SINGAPORE (Standard&Poor's CreditWire) April 6, 2000--Standard&Poor's today assigned its triple-'A' local and foreign currency ratings to Singapore Power Ltd. (SingPower) and the company's US$300 million bond issue. The outlook on the ratings is stable. The ratings on 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. Its credit standing is enhanced to some extent by its ownership by the government of Singapore (AAA/Stable/A-1+). Furthermore, the upcoming restructuring of the country's power industry will see SingPower divest its riskier power generation and supply businesses. SingPower is a vertically integrated electricity utility that commands a monopoly position in power
