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Fitch rates DBS Group securities BBB
Fitch Ratings said it assigned Singapore-based DBS Group Holdings Ltd.'s S$805 million 4.7% basel III-compliant non-cumulative nonconvertible perpetual capital securities a final rating of BBB.
This follows the completion of the securities issue, as well as the receipt of final documents conforming to information previously received.
The securities are rated five notches below DBS Group's aa- viability rating, comprising two notches for loss severity and three notches for non-performance risk, in accordance with Fitch's criteria.
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