S&P's Temasek ratings unaffected

Standard & Poor's said its rating and outlook on Singapore-based Temasek Holdings (Pte.) Ltd. (AAA/stable) are unaffected by the company's agreement to acquire an 11.55% interest in U.K.-based Standard Chartered plc (A-/positive) through wholly owned subsidiary Dover Investments. Standard Chartered plc is the holding company for Standard Chartered Bank (A/positive/A-1).

Based on estimated investment value of S$6.6 billion equivalent, S&P predicted that the purchase consideration of the acquisition can be accommodated through internally generated resources, without the need for Temasek to take on additional debt. Additionally, Temasek's financial profile remains strong despite a steadily increasing debt level in the past year to partially finance various acquisitions.

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