11 Aug '11, 9pm

US downgrade a boost for Singapore

Singapore is now rated as safer for investors than America. While the United States had its credit rating downgraded to AA+ by Standard & Poor's (S&P) late last week, Singapore has retained its higher AAA rating. S&P says that this highest means an "extremely strong capacity to meet financial commitments". Not only is Singapore as a whole ranked AAA, but local institutions and companies are rated highly by S&P too. Temasek Holdings is also ranked AAA, for example, as is Singapore Technologies Engineering. Its banks are also well regarded on a global basis. Bloomberg rated Singapore banks among the strongest in the world in June, saying that OCBC "ranks as the world's strongest bank"; DBS and UOB also placed in the top six. While US politicians are wringing their hands in anguish, and while the risk of a global economic downturn may have increased, Singapore could gain rela...

Full article: http://www.todayonline.com/Singapore/EDC110812-0000291/US...

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