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. 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 2001,
