The ratings on Singapore Power Ltd. (SingPower) reflect its extremely strong financial profile, the low risk in its principal ongoing business in power transmission and distribution, and a relatively supportive policy and regulatory environment. SingPower's credit standing is enhanced to some extent by its ownership by the government of Singapore (AAA/Stable/A-1+). Furthermore, through the restructuring of the country's power industry SingPower has divested its riskier power generation, and will reduce its exposure in the retail business in the near term. SingPower is a vertically integrated electricity utility that commands a monopoly position in electricity and gas transmission and distribution, and a dominant position in power supply. The company maintained an extremely strong financial profile at the end of fiscal year
