Fonterra bonds attract A+ Standard and Poor's rating

Ratings agency Standard and Poor’s has assigned a rating of A+ for the bonds issue from Fonterra’s Australian subsidiary.

This follows yesterday’s AA- rating from Fitch Ratings.

Fonterra announced earlier this week it successfully raised AU$300 million (NZ$388.3 million) through its first ever issue of corporate bonds in Australia.

The bonds are for a five year term, maturing in July 2016. They were priced at a spread of 100 basis points over the Australian five-year swap rate.