S&P maintains 'negative' view on SingPost's credit risks following CEO, CFO's termination

The Edge Singapore 12-24

S&P expects SingPost to announce its new strategy when it reports its 1HFY2026 earnings for the six months ending March 2025S&P Global Ratings is keeping its "negative" view on SingPost's credit risks...

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They were found to have mishandled whistle-blower reports.\nThe development, says S&P in its Dec 24 note, \"casts uncertainty over the company's future.\"\n\"Given SingPost's record of frequent turnover in management, the latest departures increase the company's credit risks,\" says S&P.\nThe ratings agency had on Dec 5 put its 'BBB' long-term issuer credit rating on SingPost and its 'BB+' issue rating on the subordinated perpetual securities that the company guarantees on CreditWatch with negative implications. \n\"We did this to reflect a heightened probability that we might lower our ratings one notch following the company's intention to reset its strategy and sell its Australia business,\" reiterates S&P, referring to the proposal on Dec 2 by SingPost to sell FMH for an enterprise value of A$1.02 billion.\nS&P expects SingPost to announce its new strategy when it reports its 1HFY2026 earnings for the six months ending March 2025.\nSingPost shares ended Dec 24 at 52 cents, up 3% for the day.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"executive","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2494055486"}