Fitch affirms Singtel and Optus ratings

FITCH Ratings on Tuesday affirmed Singapore Telecommunications' (Singtel) long-term foreign and local-currency issuer default ratings as well as its senior unsecured rating at "A+".

The credit rating agency also affirmed Singtel's wholly owned subsidiary (its Australian unit) Optus' long-term foreign-currency issuer default ratings and senior unsecured rating at "A".

The outlook on both issuer default ratings is "stable", Fitch said in a media statement.

Singtel's rating has "limited potential" to rise in the short to medium term, the agency added.

Singtel shares closed at S$4.27 on Tuesday, down three cents.