SINGAPORE (Standard&Poor's) Nov. 7, 2005--Standard&Poor's Ratings Services today affirmed its 'AA' corporate credit ratings on Singapore Power Ltd. (SingPower) and its wholly owned subsidiary, SP PowerAssets Ltd. (SPPA). The outlook for both ratings is stable. "The affirmation follows SingPower's announcement that it plans to sell 49% of its Australian businesses under its subsidiary, SP AusNet (A/Stable/--), through an IPO," said Standard&Poor's credit analyst Greg Pau. SingPower's activities are focused on the operation of its electricity and gas businesses in Singapore and Australia. SPPA owns the electricity transmission and distribution assets in Singapore. SP AusNet's business consists of the electricity transmission business and one of the electricity and gas distribution businesses in the State of
