NEW ZEALAND: Fonterra says strong credit rating underlines ability to fund growth strategy
Fonterra's very strong credit rating underlines the company's ability to fund its acquisition and joint venture strategy from the strength of its balance sheet, CFO Graham Stuart said today [Tuesday]. Stuart was commenting on Fitch Ratings assigning Fonterra a long term rating of AA- and a short-term rating of F-1+, both equivalent to last year's ratings by Standard & Poor's of AA- and A-1+ respectively, and meaning that Fonterra has very strong capacity to meet its debt obligations.
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