Fonterra ratings on review at S&P in face of high debt levels, low global prices

Thu, 13 Aug 2015

By Jonathan Underhill Aug. 13 (BusinessDesk) - Fonterra Cooperative Group's credit ratings were put on CreditWatch with negative implications by Standard & Poor's, which said there was a risk of weakness in the dairy exporter's financial metrics given its high debt levels at a low point in the global price cycle. The Auckland-based company has 'A' long-term and 'A-1' short-term ratings with S&P, which were put on CreditWatch following its announcement of a lower forecast milk price due to weak demand and surplus supply in the global dairy...

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