Singtel says credit ratings still strong following Moody’s downgrade to A1

SINGAPORE (July 21): A Singapore Telecommunications (Singtel) spokesperson says its credit ratings “continue to be strong among [its] peers,” after rating agency Moody’s Investors Service on Friday cut Singtel’s senior unsecured ratings to A1, from Aa3.

Despite the downgrade, Moody’s says Singtel’s ratings outlook remains stable.

The rating cut comes just days after Singtel divested 75.01% of its stake in NetLink NBN Trust through an initial public offering (IPO), raising some $2.3 billion in the process.

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