SingPost Retains ‘BBB’ Rating with Negative Outlook

Singapore Post (SG:S08) has released an update.

S&P Global Ratings has maintained its ‘BBB’ credit rating for Singapore Post Ltd. (SingPost), citing the company’s financial flexibility to potentially reduce its high leverage through asset sales. However, the firm’s negative outlook signals concerns over possible downgrades due to increased business risks from its strategic shift toward logistics and high debt levels from previous acquisitions. SingPost’s debt-to-EBITDA ratio is expected to improve over the next few years as it divests noncore assets and focuses on its logistics operations.

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