Ann: CREDIT: FCG: Fonterra notifies affirmation of Credit Rating

• Release Date: 02/04/15 15:11
• Summary: CREDIT: FCG: Fonterra notifies affirmation of Credit Rating
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					FCG
02/04/2015 15:11
CREDIT
PRICE SENSITIVE
REL: 1511 HRS Fonterra Co-operative Group Limited

CREDIT: FCG: Fonterra notifies affirmation of Credit Rating

2 APRIL 2015

FONTERRA NOTIFIES AFFIRMATION OF CREDIT RATING

Fonterra Co-operative Group Ltd is pleased to advise that it has been
notified by Standard & Poor's Ratings Services that they have affirmed
Fonterra's credit rating. This affirmation follows the release of Standard &
Poor's rating criteria for agricultural co-operatives which applies to
Fonterra.

Standard & Poor's has affirmed Fonterra's long-term rating of A and
short-term rating of A-1. The outlook remains stable. Standard & Poor's has
also affirmed the issue ratings on all of Fonterra's debt, including the
subordinated notes which are rated A-.

Chief Financial Officer Lukas Paravicini welcomed Standard & Poor's
affirmation, reflecting their view of Fonterra's strong business position as
a low cost, leading global dairy co-operative with significant financial
flexibility.

-ENDS-

For further information contact:
Abhy Maharaj
Director Equity Markets
Phone: +64 21 879 458
End CA:00262708 For:FCG    Type:CREDIT     Time:2015-04-02 15:11:54