Aug 27, 2011 - Standard & Poor's Ratings Services today affirmed its 'AAA' long-term and 'A-1+' short-term sovereign credit ratings on the Republic of Singapore. The outlook remains stable. The transfer and convertibility (T&C) assessment remains at 'AAA'.

At the same time, we affirmed the long-term ASEAN scale credit rating on Singapore at 'axAAA', and the short-term ASEAN scale credit rating at 'axA-1+'.

The ratings on Singapore are underpinned by the sovereign's extensive fiscal and external strengths, and its solid record of prudent macroeconomic management. At the same time, the ratings take into account the challenges the country faces as a small and open economy.

Read full report