SINGAPORE (Standard&Poor's) Sept. 11, 2012--Standard&Poor's Ratings Services today assigned its 'AA-' issue rating to an issue of US$500 million in senior unsecured fixed rate notes by SP PowerAssets Ltd. (SPPA; AA-/Stable/--; axAAA/--). The notes will be issued under the company's Singapore dollar (S$) 8 billion global medium-term notes program. We derived the rating on the notes from the 'AA-' long-term corporate credit rating on SPPA. The corporate credit rating reflects the company's monopoly as the sole owner and maintainer of Singapore's electricity transmission and distribution assets, and as the sole electricity transmission licensee. The rating also reflects SPPA's high revenue and cash flow certainty, which is supported by a regulated tariff structure until 2013 and a
