S&P: United Overseas notes A+

Standard & Poor's said it assigned its A+ issue rating to a proposed issue of lower Tier 2 subordinated notes by United Overseas Bank Ltd.

The proposed issue is a drawdown from the bank's existing S$ 5 billion euro medium-term notes program. The issue will at all times rank pari passu with all other direct, subordinated and unsecured obligations of the bank.

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