Fitch downgrades ratings for Singtel and Optus

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 wholly-owned Australian subsidiary Singtel Optus to A- from A.

Fitch has a stable outlook on the IDRs for both Singtel and Optus.

The ratings downgrade reflects weaker-than-expected growth prospects as well …

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