Prime Minister Jacinda Ardern and Finance Minister Grant Robertson should be happy with yesterday's ratings upgrade. Photo / Mark MitchellOPINION:If anyone still needed proof that New Zealand's pandemic response has been the right one for the economy, then yesterday's S&P Global Ratings upgrade should suffice. The ratings upgrade will help keep a lid on government borrowing costs but it is unlikely to lower them greatly. Six local councils - Greater Wellington Regional Council, Marlborough District Council, New Plymouth District Council, Taupō District Council, Wellington City Council and Whangārei District Council - all received a specific upgrade yesterday. That reflected an "underlying credit strength" which was not shared by the other 18 New Zealand local bodies subject to S&P ratings.

Source: New Zealand Herald February 23, 2021 03:56 UTC