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Singtel's outlook revised to negative, 'A/A-1 ratings' by S&P Global

Felicia Tan
Felicia Tan12/8/2020 09:33 AM GMT+08  • 3 min read
Singtel's outlook revised to negative, 'A/A-1 ratings' by S&P Global
As at 9.33am, shares in Singtel are trading 1 cent higher or 0.4% up at $2.42.
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S&P Global Ratings has revised its outlook on Singapore Telecommunications (Singtel) on Dec 7 as it feels the group has been “hit harder” than expected by the Covid-19 pandemic and weakened economic conditions.

“In our view, a significant improvement in Singtel’s performance depends, to a large extent, on the return of some normalcy in operating conditions,” it says in a Dec 7 report released via SGX on Dec 8.

That said, a recovery in the group’s operating performance could take longer than expected, resulting in “protracted weakness in financial ratios over the next 18-24 months,” it adds.

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