MIL OSI – Fonterra Notifies Affirmation of Credit Rating

Fonterra Co-operative Group Ltd is pleased to advise that it has been notified by Standard & Poor’s Ratings Services that they have affirmed Fonterra’s credit rating. This affirmation follows the release of Standard & Poor’s rating criteria for agricultural co-operatives which applies to Fonterra.

Standard & Poor’s has affirmed Fonterra’s long-term rating of A and short-term rating of A-1. The outlook remains stable. Standard & Poor’s has also affirmed the issue ratings on all of Fonterra’s debt, including the subordinated notes which are rated A-.

Chief Financial Officer Lukas Paravicini welcomed Standard & Poor’s affirmation, reflecting their view of Fonterra’s strong business position as a low cost, leading global dairy co-operative with significant financial flexibility.

Selwyn Manning, BCS (Hons.) MCS (Hons.) is an investigative political journalist with 23 years media experience. He specializes in reportage and analysis of socioeconomics, politics, foreign affairs, and security/intelligence issues. Selwyn has extensive experience as a commentator and has provided live political analysis to a wide range of television and radio organizations broadcasting in New Zealand, Australia and globally including the BBC (Five Live, London) and BBC (World Service). He is currently a correspondent to Australia's FiveAA radio, and is a regular live-on-air panelist on Radio New Zealand's The Panel with broadcaster Jim Mora.