OREANDA-NEWS. March 31, 2016. Fitch Ratings has assigned New Zealand's forthcoming New Zealand dollar-denominated bonds maturing in April 2025 an expected rating of 'AA+(EXP)'.

KEY RATING DRIVERS
The expected rating is in line with New Zealand's Long-Term Local-Currency Issuer Default Rating (IDR) of 'AA+' with Stable Outlook.

RATING SENSITIVITIES
The rating would be sensitive to any changes in New Zealand's Long-Term Local-Currency IDR. Fitch affirmed New Zealand's Long-Term Local-Currency IDR at 'AA+' on 26 January 2016 and revised the Outlook to Stable from Positive. The Long-Term Foreign-Currency IDR is 'AA' with Stable Outlook.