Fonterra's profit warning increases importance of asset sales - Fitch

Thu, 23 May 2019

By Rebecca Howard May 24 (BusinessDesk) - Fonterra Co-operative Group's profit downgrade doesn't impact its rating but increases the importance of its asset sales, Fitch Ratings says. Fonterra yesterday cited "heightened risks" in the fourth quarter to the co-op’s previous forecast normalised earnings and lowered its guidance to 10-15 cents per share from 15-25 cents. That implies a forecast range of $161.2-241.8 million, compared to $241.8-403 million. Fitch - which had already revised its outlook to negative from stable when Fonterra...

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