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Moody's rates DBS bond Aa1
Moody's Investors Service said it assigned a provisional Aa1 rating to DBS Bank Ltd.'s RMB 500 million three-year senior unsecured bond.
The outlook is negative.
The RMB 500 million bond will represent direct, unsecured and unsubordinated obligations of the bank. As such, they are rated at Aa1, which is equal to DBS' long-term senior unsecured rating.
Mood's said the rating is underpinned by DBS' position as the largest bank in Singapore by assets, the bank's strong capital position and the very high likelihood of systemic support for DBS in the event of a crisis.
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