The development, says S&P in its Dec 24 note, "casts uncertainty over the company's future."
S&P Global Ratings is keeping its "negative" view on SingPost's credit risks after the company terminated three of its top executives over the weekend.
The three men fired were CEO Vincent Phang, CFO Vincent Yik and Li Yu, who runs the international operations unit. They were found to have mishandled whistle-blower reports.
