Published Date: 15 Oct 2015
The Housing and Development Board (HDB) has been assigned an Aaa issuer rating by leading credit rating agency, Moody’s Investors Service (“Moody’s”). Its S$32 billion Multi-currency Medium Term Note ("MTN") Programme was also assigned a (P)Aaa rating by Moody’s.
2 Under HDB’s MTN programme, HDB may from time to time, issue bonds (or notes) to finance its development programmes and working capital requirements, as well as to refinance the existing borrowings.
3 The principal methodology used in this rating was Government-Related Issuers published in October 2014. For more details on Moody’s rating, please refer to Moody’s press release dated 15 October 2015.
4 HDB was set up as a statutory board on 1 February 1960. HDB houses over 80% of Singapore’s resident population, with more than 9 in 10 HDB dwellers owning the flats they live in. This makes Singapore one of the countries with the highest home ownership rates in the world. As the public housing authority in Singapore, providing affordable and quality housing, creating vibrant and sustainable towns, and promoting active and cohesive communities, will remain the focus for HDB.