S&P rates Singtel notes A

S&P said it assigned its A long-term issue rating to Singtel Group Treasury Pte. Ltd.’s proposed dollar-denominated senior unsecured notes.

Singapore Telecommunications Ltd., rated A by S&P, will guarantee the notes

“We expect Singtel to use the majority of the proceeds to refinance debt maturing over the next 12 months, which in turn funds general corporate needs. Hence, the transaction is credit neutral to the company’s leverage profile,” S&P said in a press release.

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