Moody's gives Oversea-Chinese Banking preferreds Aa3

Moody's Investors Service said it assigned an Aa3 rating to Oversea-Chinese Banking Corp. Ltd.'s proposed SGD class B non-cumulative non-convertible preference share issue callable in 2013.

The outlook is stable.

The rating reflects both the structure of the issue and Oversea-Chinese Banking's above-average financial strength, the agency said, adding that the rating is subject to receipt of final documentation, the terms and conditions of which have not been changed materially from the draft documents on which this rating is based.

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