S&P affirms SingPower

Standard & Poor's said it affirmed the AA ratings on Singapore Power Ltd. (SingPower).

The outlook is stable.

S&P noted that the rating on SingPower is based on strengths that include the company's natural monopoly in key businesses as about 93% of SingPower's businesses are natural monopolies with stable and predictable cash flows assured by long-term licenses and given the more mature and benign regulatory environments in Singapore and Australia and the importance of steady power supply, the tariffs are unlikely to be revised substantially downward.

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