S&P is expecting the company funds from operations to debt – or leverage – to fall below 40% over the next 18 to 24 months as dividends from associates decline.
SINGAPORE (Aug 1): In yet another blow to Singapore’s biggest telco, S&P Global Ratings has cut Singapore Telecommunications’ outlook to “negative”, citing more intense regional competition and increasing cash needs for capital expenditure and dividend payout.
S&P’s downgrade for Singtel comes after Moody’s Investors Service and Fitch Ratings cut their outlook to “negative” in March.
