Fletcher Building has asked ratings agency Moody's to withdraw its credit rating of the company, as it reports continued pressures on its business and looks to cut debt.

The company has Moody's lowest investment grade rating of Baa3 rating, below which is considered a speculative grade and outside the limits for most institutional investment.

Generate investment specialist Greg Smith says the company's been selling assets over the past year and they're looking to simplify the business.

LISTEN ABOVE

Fletcher Building has asked ratings agency Moody's to withdraw its credit rating of the company, as it reports continued pressures on its business and looks to cut debt.
The company has Moody's lowest investment grade rating of Baa3 rating, below which is considered a speculative grade and outside the limits for most institutional investment.
Generate investment specialist Greg Smith says the company's been selling assets over the past year and they're looking to simplify the business.
LISTEN ABOVE

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Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

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Greg Smith: Generate investment specialist on Fletcher asking for credit rating to be withdrawn

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/c0be9b08-6389-4887-b6c0-b46c007bfa10/transcript