Moody's: 3 Singapore banks' view to stable

Moody's Investors Service said it revised to stable from negative the outlooks for the Aa1 long-term deposit ratings of three Singapore banks - DBS Bank Ltd., Oversea-Chinese Banking Corp. Ltd. and United Overseas Bank Ltd.

The agency also said it revised to stable from negative their bank financial strength ratings of B and other long-term debt ratings. The banks' short-term deposit and commercial paper ratings of prime-1 are not affected and those outlooks remain stable.

DBS Bank's also has a foreign-currency subordinated debt rating of Aa2, local-currency and foreign-currency junior subordinated ratings of A1, local-currency and foreign-currency preference share ratings of A3.

Oversea-Chinese Banking also has a local-currency and foreign-currency subordinated debt ratings of Aa2, local-currency and foreign-currency junior subordinated ratings of A1, local-currency and foreign-currency preference share ratings of A3.

United Overseas Bank also has a local-currency and foreign-currency junior subordinated ratings of A1, local-currency and foreign-currency preference share ratings of A3.

The outlooks address potential ratings pressure over the next 12 to 18 months, Moody's said.

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