S&P boosts DBS Bank

Standard & Poor's said it raised its local currency counterparty credit ratings on DBS Bank Ltd. to AA-/A-1+ from A+/A-1.

The outlook is stable.

At the same time, S&P said it assigned its B bank fundamental strength rating to the bank.

The A+/A-1 foreign currency counterparty credit ratings were affirmed. The outlook is positive.

S&P said the foreign currency ratings are constrained by the foreign currency rating on the Hong Kong Special Administrative Region (foreign currency: A+/positive/A-1; local currency: AA-/Stable/A-1+).

The actions reflect the bank's status as a core subsidiary of DBS Bank Ltd. (AA-/stable/A-1+) and the sound stand-alone financial profile, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.