S&P: SingPost view to stable

Standard & Poor's said it revised the outlook on Singapore Post Ltd. (SingPost) to stable from negative.

The agency also said it affirmed its AA- long-term corporate credit rating and the axAAA/axA-1+ Asean regional scale rating, along with an AA- issue rating and the axAAA Asean regional scale ratings on the company's S$300 million fixed-rate notes due April 11, 2013 and its S$200 million fixed-rate notes due March 30, 2020.

The outlook was revised to stable to reflect SingPost's business and financial risk profiles, which are unlikely to deteriorate in the next couple of years, S&P said.

The agency said it expects the company to maintain its solid business position and strong cash flow measures despite increasing competition and global changes in its industry.

The company has an excellent business risk profile and strong market position in the competitive domestic and international mail business in Singapore, S&P added.

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