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Fletcher Building Reduces Net Debt; Plans to Withdraw Credit Rating at Moody's

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Fletcher Building (ASX:FBU, NZE:FBU) is moving to withdraw its credit rating at Moody's as the company has made progress in its transition to a more stable capital structure, according to a Wednesday filing with the Australian and New Zealand bourses.

Following the divestment of its construction division and other property sales, Fletcher expects to be at the midpoint of its NZ$400 million to NZ$900 million net debt target range as of June 30.

The company said it expects fiscal 2026 earnings before interest and taxes of NZ$375 million to NZ$380 million, excluding discontinued items and including roughly NZ$40 million of property-related earnings.

Additionally, Fletcher said six recent divestments and property sales are expected to contribute around NZ$450 million of net cash proceeds in the second half of fiscal 2026.

The company's Kiwi shares were down 1% in recent Wednesday trade.

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