S&P says that the rationale for downgrading its rating on SingPost is that the remaining core business of the company is “also facing structural decline”, following the divestment of two of its businesses.
Standard & Poor’s (S&P) has lowered its long-term issuer credit rating for Singapore Post (SingPost) to BBB- from BBB, after the divestment of its Australian logistics and freight forwarding businesses.
The credit rating company also removed its ratings on SingPost from CreditWatch, where they placed them with negative implications on Dec 5, 2024.
