S&P lowers Singapore Post view to negative

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

The agency also said it affirmed its AA- long-term corporate credit rating and its axAAA/axA-1+ Asean regional scale rating.

The agency also affirmed the 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 on its S$200 million fixed-rate notes due March 30, 2020.

The agency said it revised the outlook to negative to reflect the company's more-defined growth strategy, which could undermine its modest financial risk and excellent business risk profiles.

S&P said it expects business growth to occur in more competitive and lower-margin businesses that will affect the company's profitability and increase its exposure to industry risk.

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