Singtel downgraded due to intense price competition in Singapore and Australia

Singtel, the parent of Optus which in turn is AYS' network supplier has been downgraded over concerns of price competition in Singapore and Australia:

Singtel's level of leverage for that period reflects "a weakening operating and financial profile amid intensifying competition in Singtel's core markets", according to Moody's, which also said that "intense price competition in Singapore and Australia is leading to lower average revenue per user and profitability" in those two key markets.

https://www.straitstimes.com/business/companies-markets/moodys-cuts-singtel-outlook-to-negative-on-price-war-bharti-debt

Singtel are increasingly getting under pressure...