China’s Bright Dairy looking better after Fonterra’s food safety stumble, Moody’s says

Mon, 12 Aug 2013

By Paul McBeth Aug 13 (BusinessDesk) - China’s Bright Food Group, a cornerstone stake in local processor Synlait Milk, is likely to get a boost from Fonterra Cooperative Group’s food scare and might get a credit rating upgrade from Moody’s Investors Service. Fonterra is the biggest milk powder supplier into China with about 60 percent market share, and last week's food safety scare is seen as credit positive for Bright Food’s Baa3 credit rating with a stable outlook, Moody’s said in a statement. The New Zealand dairy exporter discovered bac...

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