SINGAPORE (Standard&Poor's) May 17, 2013--Standard&Poor's Ratings Services said today that its ratings on Singapore Power Ltd. (SingPower: AA-/Stable/--; axAAA/--) and its fully owned subsidiary SP PowerAssets Ltd. (SPPA: AA-Stable/--; axAAA/--) are unaffected by SingPower's proposed sale of a stake in fully owned SPI (Australia) Assets Pty Ltd. (SPIAA), and 51%-owned SP AusNet Group. We believe that the reweighting of the consolidated credit profile of SingPower to SPPA's natural monopoly and highly certain revenues and cash flows mitigates the impact of lower geographic and business diversity. We also expect that SingPower will use the proceeds from the sale of its interests in the Australian businesses to support its strategy of staying in its core electricity and gas
