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Did any Treasury officials raise any risks to the Minister or her office following recent credit rating agencies' downgrades of New Zealand's outlook, and if so, what were these risks?

Answered Question 17088 (2026)
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Asked by

Chlöe Swarbrick

Member for Auckland Central · Green Party

Question

  • Did any Treasury officials raise any risks to the Minister or her office following recent credit rating agencies' downgrades of New Zealand's outlook, and if so, what were these risks?

Answered by

Hon Nicola Willis

List MP · National Party · Minister of Finance

Answer

Officials highlighted to me the risk that a deterioration in the fiscal outlook could be viewed unfavourably by the credit rating agencies and may be perceived as showing a weaker commitment to fiscal discipline. Ahead of Moody’s ratings review, officials also highlighted to me that Moody’s may place New Zealand on negative outlook.