Fitch rates DBS Bank notes AA-

Fitch Ratings said it assigned a long-term rating of AA- to DBS Bank Ltd.’s $10 million 30-year zero-coupon callable notes due April 2045.

The notes were issued under the bank’s $5 billion structured note program.

The bank has a long-term issuer default rating of AA-, short-term issuer default rating of F1+ and viability rating of AA-.

The notes constitute direct, unsubordinated and unsecured obligations of the bank, the agency said, and rank equally with all its other unsecured and unsubordinated obligations.

The rating on the notes is sensitive to changes in the bank’s issuer default rating, which is driven by its viability rating of AA-, Fitch said.

© 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.