Fitch rates United Overseas Bank notes AA-

Fitch Ratings said it assigned United Overseas Bank's three-year Australian dollar-denominated senior notes a rating of AA-. The notes will be issued by the bank's Sydney branch under the bank's S$5 billion euro medium-term notes program.

The notes are rated at the same level as the bank's AA- long-term foreign-currency issuer default rating because they will constitute direct and unsecured obligations of the bank, Fitch said, and will rank equally with all its unsecured and unsubordinated obligations. The bank has a short-term foreign-currency issuer default rating of F1+.

The proceeds will be used for general corporate purposes in Australia.

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