S&P raises SingPost outlook to stable

Standard & Poor's said it revised its rating outlook on Singapore Post Ltd. (SingPost) to stable from negative.

At the same time, the AA- ratings on SingPost were affirmed.

The outlook was revised as the company has maintained its strong cash flow position, despite special dividend distributions paid in fiscal year 2006, the agency said.

The ratings on SingPost reflect the company's very strong market position and high operating efficiency, S&P said, noting that these factors are offset by geographical concentration.

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