Fitch affirms Fonterra AA- credit rating on global scale, fully-integrated model

Mon, 02 Sep 2013

Sept. 2 (BusinessDesk) - Fitch Ratings has affirmed Fonterra Cooperative Group’s credit rating, saying its dominance in export markets and fully-integrated business model underpin the dairy company. Fonterra’s long and short term default ratings were affirmed at AA- and F1+ with a stable outlook, and ratings on its senior unsecured notes, subordinated notes and commercial paper were also left untouched at AA-, A+ and F1+, Fitch said in a statement. The rating agency cited Fonterra’s ability to sell its entire annual production despite price...

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