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)
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