Moody’s gives Singtel securities A3

Moody’s Investors Service said it gave an A3 rating to the proposed Singapore dollar-denominated subordinated unsecured perpetual securities to be issued by Singtel Group Treasury Pte. Ltd. Singapore Telecommunications Ltd. will guarantee the securities.

“The rating assigned to the proposed perpetual securities is two notches below Singtel’s BCA of a3, reflecting the subordinated nature of the hybrid securities. We also incorporate two notches of uplift for the rating on the perpetual securities due to support that Temasek is likely to provide in a distressed situation,” said Nidhi Dhruv, a Moody’s vice president and senior analyst, in a press release.

The outlook is stable.

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