Not even on the other side of the world can they rest assured in the face of the excessive power of the rating agencies. The latest country to receive a cut in the valuation of its sovereign debt is New Zealand, which thus closes a period of stability that lasted 13 years.
From the United States a real boxing one-two has arrived in the Pacific: first Fitch, after a few hours Standard & Poor's. Result: downgrade from AA+ to AA, in both cases with stable outlook.
The first agency pointed the finger at the growing external debt, which could delay the rate hike policy by its Central Bank. The second instead blamed the growth of government spending, especially in the wake of this year's earthquake.
