Fitch affirms three Singapore banks

Fitch Ratings said it affirmed the ratings of DBS Bank, Oversea-Chinese Banking Corp. and United Overseas Bank.

The agency said it believes that authorities continue to have a high ability and propensity to provide timely support to local banks in the event of need.

DBS Bank's long-term foreign-currency issuer default rating is affirmed at AA- with a stable outlook, short-term foreign-currency issuer default rating at F1+ and the ratings on tier-2 and hybrid tier-1 program at A+.

United Overseas Bank's long-term foreign-currency issuer default rating is affirmed at AA- with a stable outlook, short-term foreign-currency issuer default rating at F1+ and the ratings on tier-2 and hybrid tier-1 program at A+.

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