Fitch Rating delivers a surprise ratings cut on New Zealand's credit rating to AA from AA-plus...

|By:, SA News Editor

Fitch Rating delivers a surprise ratings cut on New Zealand's credit rating to AA from AA-plus saying: "New Zealand's high level of net external debt is an outlier among rated peers - a key vulnerability that is likely to persist as the current account deficit is projected to widen again..." Kiwi down 1% vs. USD after the cut.