Moody's flips Singapore Power view to positive

Moody's Investors Service said it revised the outlooks of Singapore Power Ltd. (SP), SP PowerAssets Ltd. (SPPA) and SP Group Treasury Pte. Ltd. (SPGT) to positive from stable. Concurrently the agency affirmed SP's Aa1 issuer rating, the Aa1 senior unsecured ratings of SPPA and the Aa1 backed senior unsecured ratings of SPGT.

"The positive outlook reflects our expectation for a solid improvement in SP's credit metrics and liquidity post the company's divestment of its stake in AusNet Services (Baa1 stable) because we expect that a material amount of the proceeds will be used to reduce debt and fund capital expenditure, after special dividends," said Ray Tay, a Moody's senior vice president, in a press release.

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