Singapore Telecommunications’ (Singtel) subsidiaries have secured close to $3 billion in bank credit facilities.
Credit ratings agencies Fitch and S&P Global this year downgraded Singtel, citing weak growth prospects and the potential need for higher capital expenditure.
HOOQ Digital, a video streaming service majority owned by Singtel, last month said it was filing for liquidation while Singtel has said there is no certainty over a mooted A$2 billion sale of Australian telecom towers.