Fletcher Building Limited has announced that it has received an investment grade credit rating of Baa2 with a stable outlook from Moody's Investors Service.
This rating is seen as an important step in the company's long-term funding strategy and will allow for greater diversification of funding sources.
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The deal is subject to regulatory approvals and commercial conditions.
Every sector of the Australian share market has lost ground.
The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.
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