share_log

Singtel's Australia Asset Sale Could Ease Balance Sheet Pressure -- Market Talk

Dow Jones Newswires ·  Oct 6, 2021 02:02

DJ Singtel's Australia Asset Sale Could Ease Balance Sheet Pressure -- Market Talk

0602 GMT - Singtel's sale of a 70% stake in an Australian subsidiary could reduce the pressure on its balance sheet, Fitch Ratings says. Proceeds from the A$1.9 billion deal could be reinvested in faster-growing businesses and used for deleveraging, it notes. But Fitch raises concerns about Singtel's likely moderating recovery prospects amid continued travel restrictions in Asia, which would affect roaming revenues, as well as stiff competition across its markets. "We believe a disciplined financial policy will remain a key driver for our stable outlook on Singtel's ratings," Fitch says. (yifan.wang@wsj.com)

(END) Dow Jones Newswires

October 06, 2021 02:02 ET (06:02 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment