Dear Sir,
I refer to your article on SingTel' s sale of its Yellow Pages business on 3 June.SingTel sells Yellow Pages, see related articles below
Your article mentioned that, at our bond issue in November 2001, SingTel promised its bondholders that it will do all in its power to retain its AA- rating . This is not correct. What we did was to commit to certain medium term credit targets, specifically a net debt to EBITDA of 1.5x to 2.0x b EBITDA to net interest expense of 8x to 10x.
With our FY03 results, we delivered on these targets. Net debt to...
