SINGAPORE: Ratings
agency Standard & Poor's (S&P) has affirmed Singapore's triple A (AAA)
long-term sovereign credit ratings and said that the outlook remains stable.
S&P added that the ratings reflect Singapore's
fiscal and external strengths, solid record of prudent macroeconomic
management, and political stability.
Singapore remains the only Southeast Asian country to
receive the 'AAA' long-term and 'A-1+' short-term sovereign credit ratings.
Elsewhere in Asia, Hong Kong also received AAA ratings
from the ratings agency.
S&P also affirmed the 'axAAA' long-term and
'axA-1+' short-term ASEAN scale rating for Singapore in its latest report.
The rating agency said in a statement that Singapore
has a strong sovereign net external position underpinned by the absence of
external public sector debt.
It added that Singapore's large budget surpluses and
flexible policy responses by the government will also enable the Republic to
meet potential challenges from external shocks.
In June this year, Moody's also assigned an Aaa
sovereign rating and a "stable" outlook for Singapore.
- CNA/ms
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