“This is despite a weakened business position, which stems from the company's shifting earnings mix,” she adds.
S&P Global Ratings primary credit analyst Ong Hwee Yee has kept her “BBB” rating on Singapore Post (SGX:S08
) (SingPost) as she believes the group has the “flexibility” to reduce its debt. Ong has also kept her “BB+” issue rating on the $250 million senior perpetual securities that the group guarantees.
“We affirmed our ratings on SingPost because we believe the company has credible options to reduce its indebtedness,” writes Ong in her June 4 report, which is supported by her team of secondary contacts Minh Hoang and Pauline Tang.
