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Development Bank Of Singapore Assigned 'A+'/'A-1' Counterparty Credit Ratings; Outlook Stable Jul 99

  • ID: 2040767
  • July 1999
  • Region: Singapore
  • Standard & Poors
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LONDON (Standard & Poor's CreditWire) July 16, 1999--Standard & Poor's today assigned its single-'A'-plus long-term and 'A-1' short-term counterparty credit ratings to The Development Bank of Singapore Ltd. (DBS Bank). The outlook is stable. DBS Bank is characterized by a very strong domestic franchise, and sound funding, liquidity, capitalization, and underlying operating profitability. The government's 42% indirect ownership in DBS Bank is seen as neutral to slightly positive. Recent acquisitions, however, have increased the bank's exposure to weaker regional economies--resulting in rapid balance-sheet growth, and weakened asset quality and after-tax profitability. DBS Bank is Singapore's largest domestic bank, with a leading market share of loans and deposits, a strong retail-funding base, and a sound capital position. The bank's capital adequacy...

Companies mentioned in this report are:
- DBS Bank Ltd.

Action: New Rating

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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- DBS Bank Ltd.

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