Credit Agency Downgrades Caused by National Government Policy Choices.
Credit Agency Downgrades Caused by National Government Policy Choices. 𝘛𝘩𝘦 𝘵𝘩𝘳𝘦𝘦 𝘤𝘳𝘦𝘥𝘪𝘵 𝘢𝘤𝘵𝘪𝘰𝘯𝘴—𝘍𝘪𝘵𝘤𝘩 𝘢𝘯𝘥 𝘚&𝘗’𝘴 2011 𝘳𝘢𝘵𝘪𝘯𝘨 𝘥𝘰𝘸𝘯𝘨𝘳𝘢𝘥𝘦𝘴 𝘢𝘯𝘥 March 2026 𝘍𝘪𝘵𝘤𝘩 𝘱𝘭𝘶𝘴 April 2026 𝘔𝘰𝘰𝘥𝘺’𝘴 𝘯𝘦𝘨𝘢𝘵𝘪𝘷𝘦 𝘰𝘶𝘵𝘭𝘰𝘰𝘬 𝘳𝘦𝘷𝘪𝘴𝘪𝘰𝘯𝘴—𝘢𝘳𝘦 𝘪𝘯𝘩𝘦𝘳𝘦𝘯𝘵𝘭𝘺 𝘥𝘳𝘪𝘷𝘦𝘯 𝘣𝘺 𝘯𝘢𝘵𝘪𝘰𝘯𝘢𝘭 𝘨𝘰𝘷𝘦𝘳𝘯𝘮𝘦𝘯𝘵 𝘱𝘰𝘭𝘪𝘤𝘺 𝘥𝘦𝘤𝘪𝘴𝘪𝘰𝘯𝘴. 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀: Bruce Alpine . F itch and S&P’s 2011 rating downgrades, together with Fitch’s March 2026 and Moody’s April 2026 negative outlook revisions, were direct responses to how successive governments managed fiscal policy amid shocks. Sovereign agencies assess a government’s spending choices, revenue settings, and commitment to debt reduction—not external events in isolation. 2011: Christchurch Earthquakes Response Fitch (29 September) and S&P (30 September) cut New Zealand’s rating from AA+ to AA. The trigger was...