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Fitch downgrades ratings for Singtel and Optus

Downgrade reflects weaker-than-expected growth prospects as well as capex pressure resulting in higher leverage than previously anticipated

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Growth prospects for Singtel and Optus will remain challenging over the next 12 to 24 months in the light of "intense" competition in Singapore and Australia, as well as cautious business sentiment affecting corporate spending, says Fitch.

Singapore 

FITCH Ratings has downgraded Singtel's long-term foreign- and local-currency issuer default ratings (IDR) and foreign-currency senior unsecured rating to A from A+.

The agency also lowered the long-term foreign-currency IDR and senior unsecured rating of the telco's...

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