Singapore Exchange (SGX) today announced it has obtained first-time credit ratings from Moody’s Investors Service (Moody’s). Moody’s has assigned to SGX Aa2 long-term local and foreign currency issuer ratings with a stable outlook. The Aa2 rating is the highest credit rating assigned to any exchange group by Moody’s.
Moody’s has highlighted that SGX’s strong profitability, combined with limited financial leverage, contributed to SGX’s high creditworthiness. It also took into account the systemic importance of SGX to Singapore’s financial sector, the strong credit fundamentals of SGX’s central counterparty clearinghouses and the overall robustness of SGX’s governance framework.
Mr Loh Boon Chye, Chief Executive Officer of SGX, said, “The Aa2 rating affirms SGX’s strong market position in the securities and derivatives markets, as well as our ability to generate solid and growing profits. The strong investment grade rating also reflects the financially-disciplined approach SGX has taken and will continue to take as we scale up our multi-asset business.”
Details of Moody’s press release are appended here: https://www.moodys.com/research/Moodys-assigns-first-time-Aa2-issuer-ratings-to-Singapore-Exchange–PR_451359
