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New Zealand Credit Ratings

New Zealand
Moody'sS&PFitchDBRSScope Ratings
RatingOutlookRatingOutlookRatingOutlookRatingOutlookRatingOutlook
AaaStableAA+StableAAPositiveNR-NR-

Credit Rating History

Rating Agency
Date
Previous Rating
Previous Outlook
New Rating
New Outlook
S&P
Feb 21, 2021AAPositiveAA+Stable
Fitch
Jan 22, 2020AAStableAAPositive
S&P
Jan 30, 2019AAStableAAPositive
Fitch
Jan 26, 2016AAPositiveAAStable
Fitch
Jul 8, 2014AAStableAAPositive
Fitch
Sep 29, 2011AA+NegativeAAStable
S&P
Sep 29, 2011AA+NegativeAAStable
S&P
Nov 21, 2010AA+StableAA+Negative
Fitch
Jul 15, 2009AA+StableAA+Negative
S&P
May 27, 2009AA+NegativeAA+Stable
S&P
Jan 12, 2009AA+StableAA+Negative
Fitch
Aug 18, 2003AAStableAA+Stable
Moody's
Oct 20, 2002Aa2StableAaaStable
Fitch
Mar 27, 2002AAStable
S&P
Mar 6, 2001AA+NegativeAA+Stable
Moody's
Sep 23, 1998Aa1Negative WatchAa2Stable
S&P
Sep 9, 1998AA+StableAA+Negative
Moody's
Jun 4, 1998Aa1StableAa1Negative Watch
Moody's
Feb 26, 1996Aa2Positive WatchAa1Stable
S&P
Jan 31, 1996AAStableAA+Stable

Table Key

Grade
Moody'sS&PFitchDBRSScope Ratings
Prime
AaaAAAAAAAAAAAA
High Grade
Aa1AA+AA+AA (high)AA+
Aa2AAAAAAAA
Aa3AA-AA-AA (low)AA-
Upper Medium Grade
A1A+A+A (high)A+
A2AAAA
A3A-A-A (low)A-
Lower Medium Grade
Baa1BBB+BBB+BBB (high)BBB+
Baa2BBBBBBBBBBBB
Baa3BBB-BBB-BBB (low)BBB-
Non-investment Grade Speculative
Ba1BB+BB+BB (high)BB+
Ba2BBBBBBBB
Ba3BB-BB-BB (low)BB-
Highly Speculative
B1B+B+B (high)B+
B2BBBB
B3B-B-B (low)B-
Substantial Risks
Caa1CCC+CCC+CCC
Caa2CCCCCCCCCCCC
Caa3CCC-CCC-CCC
Extremely Speculative
CaCCCCCCCCC
CCCCC
In Default with Little Prospect for Recovery
CDRDRD
In Default
SDSD
CDDDD
DDDD
DDDDDD
Not Rated
NRNRNRNRNR

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