April 28, 2020 / 9:17 AM / a month ago

BRIEF-S&P Says Singapore 'AAA/A-1+' Ratings Affirmed; Outlook Stable

April 28 (Reuters) -

* S&P - SINGAPORE ‘AAA/A-1+’ RATINGS AFFIRMED; OUTLOOK STABLE

* S&P - SUBSTANTIAL STIMULUS MEASURES WILL SEE SINGAPORE RECORD ITS FIRST FISCAL DEFICIT SINCE WE STARTED RATING THE SOVEREIGN

* S&P - SINGAPORE HAS BEEN HIT HARD BY THE COVID-19 OUTBREAK AND IS SET TO EXPERIENCE ITS WORST RECESSION SINCE INDEPENDENCE

* S&P - STABLE OUTLOOK REFLECTS EXPECTATION THAT SINGAPORE’S STRONG EXTERNAL AND FISCAL POSITIONS ARE LIKELY TO REMAIN INTACT

* S&P SAYS IT BELIEVES SINGAPORE’S ROBUST CREDIT METRICS CAN ABSORB TEMPORARY SHOCK.

* S&P - FORECAST SINGAPORE'S GDP TO CONTRACT BY 3.8% IN 2020 AS COVID-19 OUTBREAK CONTINUES TO DISRUPT ECONOMIC ACTIVITY Source text : bit.ly/35bdpfT

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