Fitch affirms New Zealand at "AA+"; revises outlook to negative; "The Outlook revision reflects our view that a substantial debt reduction is becoming more difficult to envisage"; adds "Iran war poses some risks to the economy"

"The Iran war poses some risks to the economy, given its substantial dependence on energy imports. Direct trade linkages to the Middle East are small, but inflationary effects and a broader global weakening could have a negative impact."