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4 Aug 2020 23:11
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  •   Home > News > Rural

    Fonterra's on notice to sort out its debts

    Fonterra's on notice to sort out its debts


    Fonterra
    Fonterra
    Credit ratings company Fitch has downgraded the dairy giant's outlook from stable to negative.

    And Fonterra's pledged to take measures to reduce its debt by 800 million dollars this financial year.

    Chairman John Monaghan says they're looking at selling off another asset to help improve the balance sheet.

    He says they're working through structural issues Fitch has highlighted, and undergoing a major strategy review.

    © 2020 Newstalk ZB, NZCity


     Other Rural News
     17 Jul: Rapid gains in the New Zealand dollar have seen Fonterra trim its forecast payout by five cents for the recently completed season
     26 Jun: Manawatu dairy farmer Andrew Hoggard is the new president of Federated Farmers
     26 Jun: Former Zespri chairman Peter McBride will lead the boardroom of the country's largest company
     26 Jun: Fonterra is replacing its retiring chairman John Monaghan with Tauranga dairy farmer and kiwifruit grower Peter McBride
     24 Jun: The global demand for sheep milk is growing, and Kiwi farmers are responding
     23 Jun: Fonterra farmers who produce sustainable, high quality milk will soon be eligible for a new payment of up to 10 cents per kg of milksolids
     15 Jun: Dairy farmers aren't overly optimistic that a wide ranging milk payout will be narrowed
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