Cullen confident on stable rating

Mr Cullen is currently visiting Singapore and held a meeting there at the rating agency's Asian headquarters.

He says he had a good exchange of views with the agency.

"There seems to be a good understanding of the fiscal and monetary policies of the New Zealand Government.

"Standard and Poor's are visiting New Zealand in August for their regular review but on the basis of today's meeting I am confident our present rating will be confirmed."

Standard and Poor's upgraded New Zealand's credit rating in March from AA+ with a negative outlook to AA+ with a stable outlook.

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