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Bulletin: DBS Bank Ltd. Ratings Unaffected By Proposed Rights Issue Dec 08
Standard & Poors, Dec 2008
Abstract
HONG KONG (Standard & Poor's) Dec. 23, 2008--Standard & Poor's Ratings Services said today that its ratings on DBS Bank Ltd. (AA-/Stable/A-1+) were not affected by the bank's announcement of its proposed rights issue of Singapore dollar 4 billion. Standard & Poor's recognizes that this rights issue will strengthen DBS' capitalization, by improving its ratio of adjusted total equity to adjusted assets by about 1.5%, from 7.59% at the end of September 2008. This capital raising would mitigate, to a certain extent, the higher asset provisioning that is expected to arise from the recessionary conditions in its two key markets of Singapore and Hong Kong in 2009. We expect a rise in corporate and small to medium-sized enterprise defaults to...
Companies mentioned in this report are: DBS Bank Ltd.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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