Fitch gives DBS notes A+

Fitch Ratings said it assigned DBS Bank Ltd.'s proposed dollar-denominated subordinated notes an expected rating of A+(exp).

The notes are rated one notch below DBS' AA- long-term foreign-currency issuer default rating to reflect its subordinated status and the absence of any going-concern loss-absorption mechanism. This is in accordance with Fitch's criteria on rating bank regulatory capital and similar securities.

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