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Prospect News home > News index > List of issuers O > Headlines for Oversea-Chinese Banking Corp. Ltd. > News item |
Moody's: Oversea-Chinese Banking shares A3
Moody's Investors Service said it assigned an A3 (hyb) rating to Oversea-Chinese Banking Corp. Ltd.'s proposed SGD Class M non-cumulative non-convertible preference share issue.
The outlook is stable.
The agency said the Class M preference shares are perpetual securities with no maturity date and a coupon skip mechanism.
Those distinctions, as well as these preferred securities' ranking in liquidation that is senior only to common equity, are reflected in the three-notch rating difference from the company's aa3 baseline credit assessment, the agency said.
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