Fitch Affirms Fortescue Credit Ratings

In its update, Fitch noted that the rating affirmation, despite declines in market prices, “reflects the company’s strong progress in cost reductions,” and further noted their expectation for “Fortescue’s cost reductions to be sustainable.” Chief Financial Officer Stephen Pearce noted that “it is pleasing that Fitch has recognised Fortescue’s ability to generate positive free cash flow and maintai