Fonterra credit ratings remain the same

By NZPA

Tuesday 8th October 2002

Credit agency Standard & Poor's has kept dairy giant Fonterra's corporate and capital note ratings at the same level as last year.

It kept the long-term corporate rating at double A-minus and its capital notes issue at single A-plus.

Fonterra chief executive Craig Norgate said the ratings reflected the ongoing financial strength of the group.

"This means we are considered a conservatively geared business with an above average business profile and a very strong capacity to pay our bills."

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