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Fonterra Notifies Affirmation of Credit Rating
Fonterra Notifies Affirmation of Credit Rating
Fonterra Co-operative Group Ltd is pleased to advise
that it has been notified by Standard & Poor’s Ratings
Services that they have affirmed Fonterra’s credit rating.
This affirmation follows the release of Standard & Poor’s
rating criteria for agricultural co-operatives which applies
to Fonterra.
Standard & Poor’s has affirmed Fonterra’s long-term rating of A and short-term rating of A-1. The outlook remains stable. Standard & Poor’s has also affirmed the issue ratings on all of Fonterra’s debt, including the subordinated notes which are rated A-.
Chief Financial Officer Lukas Paravicini welcomed Standard & Poor’s affirmation, reflecting their view of Fonterra’s strong business position as a low cost, leading global dairy co-operative with significant financial flexibility.
-ENDS-
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