Rating: New Zealand Credit Rating 2026

Rating Moody's New Zealand

Long term Rating				Short term Rating
Foreign currency		Local currency		Foreign currency		Local currency
Date	Rating(Outlook)	Date	Rating	Date	Rating	Date	Rating
2024-04-16	Aaa (Stable)
2022-04-21	Aaa (Stable)
2020-04-02	Aaa (Stable)
2018-09-21	Aaa (Stable)
2017-03-24	Aaa (Stable)
2003-11-15	(Stable)
2002-10-20	Aaa
1998-09-23	Aa2
1996-02-26	Aa1
1994-03-16	Aa2	2024-04-16	Aaa			2024-04-16	P-1
1986-09-26	P-1	2022-04-21	Aaa			2022-04-21	P-1
1984-10-17	Aa	2020-04-02	Aaa			2020-04-02	P-1
1977-06-29	Aaa	2018-09-21	Aaa			2018-09-21	P-1
1975-07-10	Aa	2017-03-24	Aaa			2017-03-24	P-1
1965-07-01	Baa	1991-09-04	Aaa			1995-10-25	P-1

Moody's: Long term Rating

Rating S&P New Zealand

Long term Rating				Short term Rating
Foreign currency		Local currency		Foreign currency		Local currency
Date	Rating(Outlook)	Date	Rating	Date	Rating	Date	Rating
2021-02-21	AA+ (Stable)
2019-01-30	(Positive)	2021-02-21	AAA
2011-09-29	AA (Stable)	2011-09-29	AA+	1986-09-18	A-1+	1995-11-02	A-1+

S&P: Long term Rating

Rating Fitch New Zealand

Long term Rating				Short term Rating
Foreign currency		Local currency		Foreign currency		Local currency
Date	Rating(Outlook)	Date	Rating	Date	Rating	Date	Rating
		2020-01-22	AA+	2020-01-22	F1+
		2019-01-30	AA+	2019-01-30	F1+
		2018-02-14	AA+	2018-02-14	F1+
		2017-02-17	AA+	2017-02-17	F1+
2022-09-09	AA+ (Stable)	2016-08-10	AA+	2016-08-10	F1+
2020-01-22	AA	2016-07-22	AA+	2016-07-22	F1+
2019-01-30	AA	2016-01-26	AA+	2016-01-26	F1+
2018-02-14	AA (Stable)	2015-07-06	AA+	2015-07-06	F1+
2017-02-17	AA (Stable)	2014-08-22	AA+	2014-08-22	F1+
2016-08-10	AA (Stable)	2014-08-13	AA+	2014-08-13	F1+
2016-07-22	AA (Stable)	2014-08-05	AA+	2014-08-05	F1+
2016-01-26	AA (Stable)	2014-07-08	AA+	2014-07-08	F1+
2015-07-06	AA	2014-07-02	AA+	2014-07-02	F1+
2014-08-22	AA	2014-05-28	AA+	2014-05-28	F1+
2014-08-13	AA	2014-04-23	AA+	2014-04-23	F1+
2014-08-05	AA	2014-04-09	AA+	2014-04-09	F1+
2014-07-08	AA	2014-04-04	AA+	2014-04-04	F1+
2014-07-02	AA (Stable)	2014-02-26	AA+	2014-02-26	F1+
2014-05-28	AA (Stable)	2014-01-23	AA+	2014-01-23	F1+
2014-04-23	AA (Stable)	2013-11-25	AA+	2013-11-25	F1+
2014-04-09	AA (Stable)	2013-11-08	AA+	2013-11-08	F1+
2014-04-04	AA (Stable)	2013-10-08	AA+	2013-10-08	F1+
2014-02-26	AA (Stable)	2013-09-30	AA+	2013-09-30	F1+
2014-01-23	AA (Stable)	2013-09-09	AA+	2013-09-09	F1+
2013-11-25	AA (Stable)	2013-07-29	AA+	2013-07-29	F1+
2013-11-08	AA (Stable)	2013-06-27	AA+	2013-06-27	F1+
2013-10-08	AA (Stable)	2013-05-14	AA+	2013-05-14	F1+
2013-09-30	AA (Stable)	2013-03-28	AA+	2013-03-28	F1+
2013-09-09	AA (Stable)	2013-02-19	AA+	2013-02-19	F1+
2013-07-29	AA (Stable)	2013-02-08	AA+	2013-02-08	F1+
2013-06-27	AA (Stable)	2012-11-21	AA+	2012-11-21	F1+
2013-05-14	AA (Stable)	2012-11-16	AA+	2012-11-16	F1+
2013-03-28	AA (Stable)	2012-10-24	AA+	2012-10-24	F1+
2013-02-19	AA (Stable)	2012-09-28	AA+	2012-09-28	F1+
2012-07-30	AA (Stable)	2012-07-30	AA+	2012-07-30	F1+
2012-06-21	AA (Stable)	2012-06-21	AA+	2012-06-21	F1+
2012-05-31	AA (Stable)	2012-05-31	AA+	2012-05-31	F1+
2012-02-14	AA (Stable)	2012-02-14	AA+	2012-02-14	F1+
2012-01-24	AA (Stable)	2012-01-24	AA+	2012-01-24	F1+
2011-11-30	AA (Stable)	2011-11-30	AA+	2011-11-30	F1+
2011-11-07	AA (Stable)	2011-11-07	AA+	2011-11-07	F1+
2011-09-29	AA (Stable)	2011-09-29	AA+	2011-09-29	F1+
2009-07-15	AA+ (Negative)	2009-07-15	AAA	2009-07-15	F1+	2020-01-22	F1+
2003-08-18	AA+ (Stable)	2003-08-18	AAA	2003-08-18	F1+	2019-01-30	F1+
2002-03-27	AA (Stable)	2002-03-27	AAA	2002-03-27	F1+	2018-02-14	F1+

Fitch: Long term Rating

Grade	Moody's	S&P	Fitch
Prime	Aaa	AAA	AAA
High grade	Aa1	AA+	AA+
	Aa2	AA	AA
	Aa3	AA-	AA-
Upper medium grade	A1	A+	A+
	A2	A	A
	A3	A-	A-
Lower medium grade	Baa1	BBB+	BBB+
	Baa2	BBB	BBB
	Baa3	BBB-	BBB-
Non-investment grade speculative	Ba1	BB+	BB+
	Ba2	BB	BB
	Ba3	BB-	BB-
Highly speculative	B1	B+	B+
	B2	B	B
	B3	B-	B-
Substantial risks	Caa1	CCC+	CCC+
	Caa2	CCC	CCC
	Caa3	CCC-	CCC-
Extremely speculative	Ca	CC	CC
Extremely speculative			C
In default with little prospect for recovery		SD	RD
In default	C	D	D
			DD
			DDD
Not rated	WR	NR

Grade	Moodys	S&P	Fitch
High grade	P-1	A-1+	F1+
Upper medium grade	P-1	A-1	F1
Lower medium grade	P-2	A-2	F2
Non-investment grade speculative	P-3	A-3	F3
Highly speculative		B	B
Extremely speculative	NP	C	C