Fitch affirms Singapore Telecommunication

Fitch Ratings said it affirmed Singapore Telecommunication Ltd.'s and SingTel Optus Pty Ltd.'s long-term foreign-currency issuer default ratings at A, along with the outstanding senior unsecured bonds at A.

The outlook remains stable.

The ratings reflect its dominant position in the Singapore telecommunications sector, entrenched position of its wholly-owned subsidiary Optus in the Australian telecommunications sector and its strong and diversified portfolio of regional investments, Fitch said.

But businesses are beginning to feel the impact of the ongoing economic slowdown, the agency said, with some customer segments cutting back on access lines and usage.

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