Hyflux woes not a sign that loans to power companies are riskier: Moody's

Singapore

HYFLUX's woes do not mean a general deterioration in the asset quality of Singapore bank loans to other large power generation companies, said Moody's Investors Service on Friday.

Hyflux shocked the market when it announced on Tuesday that it was seeking court protection to restructure some of its S$1.5 billion in outstanding debt. It also said that it planned to skip the upcoming coupon on its S$500 million perpetual securities.