TEXT-S&P Rates DBS Bank's Proposed Subordinated Nts Due 2023 'A+'

(The following was released by the rating agency)

Aug. 6, 2012--Standard & Poor's Ratings Services today

assigned its 'A+' issue rating to the proposed issue of

subordinated notes due 2023 by DBS Bank Ltd. (AA-/Stable/A-1+;

axAAA/axA-1+). The issue would be a drawdown under the bank's

US$15 billion global medium-term notes program.

The issue rating on the notes is one notch below the

long-term issuer credit rating on DBS Bank, reflecting the

subordinated position of the notes. The Singapore

dollar-denominated notes will constitute direct, unsecured, and

subordinated obligations of the bank. The bank has the option to

redeem early.

RELATED RESEARCH AND CRITERIA

-- Banks: Rating Methodology And Assumptions, Nov. 9, 2011

-- Bank Hybrid Capital Methodology And Assumptions, Nov. 1,

2011

Source: http://news.yahoo.com/text-p-rates-dbs-banks-proposed-subordinated-nts-030626139--sector.html

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