Moody’s rates Singapore Exchange notes Aa2

Moody’s Investors Service said it assigned Singapore Exchange Ltd.’s planned U.S. dollar-denominated notes an Aa2 foreign-currency senior unsecured debt rating. The notes will be a drawdown from the exchange’s S$1.5 billion multicurrency debt issuance program, rated (P) Aa2.

“The program and drawdown ratings reflect the exchange's strong position in domestic and regional markets, adequate scale, high and stable profitability, and low financial leverage. SGX's issuer ratings incorporate a two-notch uplift due to public support, driven by SGX's systemic importance in Singapore,” Moody’s said in a press release.

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