Moody's: No change for SingTel

Moody's Investors Service said that Singapore Telecommunications Ltd.'s (SingTel) third-quarter results were generally in line with the agency's expectations and have no immediate impact on the company's Aa2 rating.

The outlook remains stable.

The company reported healthy year-over-year growth in group revenue and EBITDA, bolstered by a strengthening in the Australian dollar and improvements in associates' contribution, as well as solid underlying growth in its Singapore and Optus businesses, Moody's said.

While net profits of associates grew significantly year-over-year, cash dividends received from associates declined, about 19% for the quarter and 17% year to date, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.