Analysts are divided over whether ratings agencies will upgrade New Zealand's creditworthiness soon, despite a stronger economic performance and projected government surpluses.
In 2011, international ratings agencies Standard & Poor's and Fitch downgraded the country's rating one notch from AA+ to AA.
Singapore-based economic forecaster TD Securities says New Zealand's accelerating economy should persuade the agencies to lift that rating, perhaps after May's budget.
But the director of fixed income at Harbour Asset Management, Christian Hawkesby, says while the Government's books are healthier, private-sector debt is still very high.
Mr Hawkesby says ratings agencies are likely to require further signs of improvement before acting.
