Singapore Telecommunications Ltd announced that S&P Global Ratings, on Aug, 18 2026, upgraded the group’s long-term issuer credit rating to ‘A+’ from ‘A’ and the short-term rating to ‘A-1’.
S&P also raised the rating on Singtel’s senior unsecured notes to ‘A+’ from ‘A’, and on its guaranteed subordinated perpetual securities to ‘BBB+’ from ‘BBB’. The outlook for all ratings is stable.
According to S&P, the upgrade reflects Singtel’s strengthened balance sheet, underpinned by sizable liquid investments, regular asset monetisation and an expected recovery in earnings. The agency forecasts that Singtel’s debt-to-EBITDA ratio will remain below 2x over the next 24 months.
Singtel stated it remains committed to preserving a strong balance sheet and financial discipline while pursuing sustainable long-term growth and maintaining its strong investment-grade credit ratings.