Fonterra Notifies Affirmation of Credit Rating

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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.

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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.

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