Original article by Peter Ker
The Australian Financial Review – Page: 15 : 14-Sep-16

Pure-play iron ore producer Fortescue Metals Group will repay $US700m ($A925m) worth of debt that is scheduled to mature in 2019. This will cut its debt obligations for 2019 to just $US2.88bn. Fortescue repaid $US2.9bn of debt in 2015-16, and the latest move will reduce its interest costs by $US26 a year. Peter O’Connor of Shaw & Partners expects Fortescue to further reduce its debt in the current financial year. Fortescue’s credit rating remains below investment grade, and Matthew Moore of Moody’s has ruled out a re-rating at present.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, SHAW AND PARTNERS LIMITED, MOODY’S INVESTORS SERVICE INCORPORATED, STANDARD AND POOR’S CORPORATION, RBC CAPITAL MARKETS