Fitch Ratings to Withdraw Fonterra Ratings in July
Fitch Ratings plans to withdraw its credit ratings for Fonterra on July 1 after the dairy producer decided to end their commercial relationship. The New Zealand company will continue to be rated by S&P Global as it focuses on simplifying its business operations.
Fitch Ratings will withdraw its credit ratings for Fonterra Co-operative Group on or about July 1. The dairy producer ended its engagement with the agency to simplify its business operations. Investors will now rely on a single external rating from S&P Global Ratings to assess creditworthiness.
### Simplifying the Credit Profile Fonterra Co-operative Group announced its intention to cut ties with Fitch on May 22. The company currently maintains dual ratings from both Fitch and S&P Global Ratings. By ending this relationship, the dairy group aims to reduce administrative complexity and focus on a leaner operating model.
