SingPost Ratings Remain on CreditWatch Negative After Management Removals, S&P Says -- Market Talk

Dow Jones12-24

0818 GMT - SingPost's termination of three executives casts uncertainty over the company's future, S&P Global Ratings says. "Given SingPost's record of frequent turnover in management, the latest departures increase the company's credit risks," it says in a note. S&P says it will assess the management and governance issue after having placed SingPost on CreditWatch negative. S&P placed SingPost's BBB long-term issuer credit rating and BB+ issue rating on subordinated perpetual securities on CreditWatch with negative implications on Dec. 5. That reflected a heightened probability that it might lower ratings one notch after the company's intention to reset its strategy and sell its Australia business. "We aim to resolve the CreditWatch placement when the company unveils details of the strategy, which we expect in the first half of fiscal 2026 (ending March 31, 2026)." (fabiana.negrinochoa@wsj.com)

(END) Dow Jones Newswires

December 24, 2024 03:18 ET (08:18 GMT)

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