Singtel's reported earnings before interest, taxes, depreciation and amortisation are forecast to decline by 11 to 13 per cent to between S$3.9 billion and S$4.1 billion in fiscal 2021, S&P noted. Meanwhile, adjusted Ebitda - which includes dividends from associates - is estimated to drop 6 to 8 per cent to between S$5.1 billion and S$5.2 billion.
At the level of Singtel's Australian subsidiary Optus, S&P predicts credit metrics to"remain under pressure" through fiscal 2021, given that the operating environment remains challenging.
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