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S&P upgrades SP PowerAssets
Standard & Poor's said it raised to AA from AA- the ratings on SP PowerAssets Ltd., including its long-term corporate credit rating and the long-term issue rating on the company's medium-term notes program and senior unsecured debt.
The outlook is stable.
S&P also affirmed the company's axAAA Asean regional scale ratings and the cnAAA long-term Greater China regional scale rating on some of its debt.
The upgrades follow a similar action on the company's parent, Singapore Power Ltd., the agency said.
SP PowerAssets is considered to be a core member of the Singapore Power Group as a significant contributor to the group's consolidated cash flows, S&P said.
SP PowerAssets is integral to the group's strategy, the agency said.
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