SINGAPORE (Standard&Poor's) Aug. 31, 2010--Standard&Poor's Ratings Services today assigned its 'AA-' issue rating and 'axAAA' ASEAN scale rating to the proposed issue of Singapore dollar (S$) 100 million in senior unsecured notes by SP PowerAssets Ltd. (SPPA; AA-/Stable/--; ASEAN scale axAAA/--). The proposed notes will be issued under the company's S$8 billion global medium-term notes program. The rating on the proposed notes is derived 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 (T&D) assets, and as the sole electricity transmission licensee. It also reflects SPPA's high revenue and cash flow certainty. This is supported by
