Credit Profile

Our Temasek Credit Profile is a snapshot of our credit quality and financial strength.

Credit quality measures a company’s ability to repay and service its debts. It allows bond investors to determine the likelihood that they will receive their coupon payments and the return of their principal investment. Credit quality is used as an indicator of credit risk, and is a key criterion often used before deciding to invest in a bond.

For these ratios, the lower the percentage, the higher the credit quality.

(for year ended 31 March)

Key Credit Parameters (in S$ billion)

Temasek Bonds – Maturity Profile and Coupon

Footnotes:

¹ Mainly cash and cash equivalents, and sub-20% listed assets.

² Divestments, dividend income, income from investments and interest income.

³ Cash and cash equivalents, and short term investments.

⁴ As at 31 March 2023, we had S$20.2 billion of Temasek Bonds and S$1.3 billion of Euro-commercial Paper (ECP) outstanding, in equivalent Singapore dollar value. The weighted average maturity for Temasek Bonds was over 19 years, and above three months for our ECP. All Temasek Bonds are rated Aaa/AAA by Moody’s Investors Service (Moody’s) and S&P Global Ratings (S&P) respectively. Our ECP Programme has short term ratings of P-1/A-1+ by Moody’s and S&P respectively.

⁵ Exchange rates as at 31 March 2023.