S&P affirms SP PowerAssets

Standard & Poor's said it affirmed its AA corporate credit rating on SP PowerAssets Ltd., a wholly owned subsidiary of Singapore Power Ltd. (AA/stable).

The outlook is stable.

The agency noted that the rating affirmation on SP reflects its continued business stability and its credit quality is strengthened by a very high degree of revenue and cash flow certainty.

In addition, the rating on the company is supported by the utility's natural monopoly, its adequate financial profile and an element of support from SingPower's parent.

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