Fitch puts Fonterra on notice over credit rating

Mon, 04 Mar 2019

By Paul McBeth March 5 (BusinessDesk) - Fitch Ratings has put Fonterra Cooperative Group on notice over its credit rating, saying its asset sale programme will be critical in getting debt under control. The international ratings agency yesterday downgraded the outlook on Fonterra's 'A' long-term issuer default rating to 'negative', from a previous 'stable' outlook. Fitch said last week's earnings downgrade indicated that Fonterra is facing structural issues that it needs to deal with if it wants to keep the defensive traits protecting it...

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