[4 December/ Stuff]

Fonterra has maintained its S&P Global Rating despite being ordered to pay $183 million in compensation to Danone for losses suffered after products had to be recalled following a botulism scare in 2013. S&P said Fonterra had enough liquidity to cover the payment and it believed the company had appropriately addressed its food safety monitoring processes. Forsyth Barr Analyst, James Bascand said he was not surprised at the rating, as the impact on Fonterra’s balance sheet was relatively immaterial given the size of the company.