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12 Dec 2019 2:26
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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.

    © 2019 Newstalk ZB, NZCity


     Other Rural News
     04 Dec: Dairy prices have fallen for the first time in three months
     20 Nov: Global dairy prices have risen 1.7 percent at Fonterra's latest overnight auction
     15 Nov: Fonterra's human resources manager has resigned after less than a year in the job
     06 Nov: Global dairy prices have risen 3.7-percent at Fonterra's latest overnight auction
     22 Oct: Good news for farmers from Fonterra this morning
     18 Oct: Trouble at Fonterra, but not of the financial kind this time
     17 Oct: Emergency services are trying to establish what caused a chemical explosion at a Fonterra plant north of Whangarei
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