S&P CONFIRMS AAA RATING AS TEMASEK UPSIZES GLOBAL NOTES TO US$15 BILLION

SINGAPORE - Standard & Poor's today affirmed its 'AAA' rating on the guaranteed global medium-term notes (MTN) programme of Temasek Financial (I) Limited. At the same time, it affirmed the 'AAA' rating on notes issued under the programme. Temasek Holdings (Private) Limited (Temasek; AAA/Stable/A-1+) unconditionally and irrevocably guarantees the programme. S&P says Temasek has increased the size of its MTN programme to US$15 billion from US$10 billion, and that, combined, about US$9.1 billion is outstanding under the programme.