Editor's Insight: Fitch blames housing bubble for declining credit upgrade
The agency says the biggest risk to the economy is no longer low dairy payouts but, instead, unsustainable house prices.
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A major credit rating agency, Fitch Ratings, has declined to upgrade New Zealand's credit ratings despite the economy and the government’s performance being better than expected.
Fitch was one of two agencies that downgraded New Zealand in August 2011. Most governments worldwide are rated by
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Editor's Insight: Fitch blames housing bubble for declining credit upgrade
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