Sharechat Logo

Fletcher Building notifies Moody's rating amendment

Wednesday 5th June 2024

Text too small?

Auckland, 5 June 2024: Fletcher Building Limited (the “Company”) has been notified that credit rating agency Moody’s Ratings has amended the Company’s credit rating from Baa2 on a stable outlook to Baa3 on a negative outlook. This amendment also applies to the rating for the Company’s medium-term note (MTN) program.

 

The amended rating does not have a material impact on the Company’s cost of funding in the near-term.

 

Fletcher Building Acting CEO Nick Traber said: “The Company remains committed to the credit metrics which underpin our original rating of Baa2 on a stable outlook. We will continue to work with Moody’s with an objective of returning our rating to this level over time.”

 

#Ends

Fletcher Building notifies Moody’s rating amendment



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZX welcomes capital markets reforms
CHI - Completion of retail bookbuild
With more banks deserting New Zealand, the consumer suffers
MEL - Neal Barclay steps down in 2025, Mike Roan appointed CE
December 12th Morning Report
December 11th Morning Report
December 10th Morning Report
CHATHAM ROCK CLOSES PRIVATE PLACEMENT OF SHARES
CVT - Accounting irregularities impact prior periods
December 9th Morning Report