Moody’s stabilizes Singapore Power view

Moody’s Investor Services said it revised its outlook for Singapore Power Ltd., SP PowerAssets Ltd. and SP Group Treasury Pte. Ltd. to stable from positive and affirmed their Aa1 ratings and a2 baseline credit assessment.

"The change in outlook and rating affirmation reflect our expectation that SP's rising capital spending and resultant debt requirements will lead to a moderation in the company's credit metrics over the next three to five years. As a result, we expect SP's metrics to trend towards the range consistent with a BCA of a2 and rating of Aa1 over time," said Spencer Ng, a Moody's vice president and senior credit officer, in a press release.

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