Fletcher Building Limited (the “Company”) has been notified that credit rating agency Moody’s Ratings has amended the Company’s credit rating from Baa2 on a stable outlook to Baa3 on a negative outlook.
This amendment also applies to the rating for the Company’s medium-term note (MTN) program.
The amended rating does not have a material impact on the Company’s cost of funding in the near-term.
Fletcher Building Acting CEO Nick Traber said: “The Company remains committed to the credit metrics which underpin our original rating of Baa2 on a stable outlook. We will continue to work with Moody’s with an objective of returning our rating to this level over time.”
Authorised by: Haydn Wong, Company Secretary