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Bulletin: Impact On Ratings From U.S. Subprime Minimal For Singapore Banks Aug 07
Standard & Poors, Aug 2007
Abstract
SINGAPORE (Standard & Poor's) Aug. 14, 2007--Standard & Poor's Ratings Services said today it has reviewed the rated Singapore banks' exposure to U.S. subprime mortgage-related instruments and has determined that their exposure is negligible at this time. Standard & Poor's includes DBS Bank Ltd. (AA-/Stable/A-1+), United Overseas Bank Ltd. (UOB; A+/Stable/A-1), and Oversea-Chinese Banking Corp. Ltd. (OCBC; A+/Stable/A-1) in Group 1 of the three risk groups defined in the article 'U.S. Subprime Impact Limited On Rated Asia-Pacific Banks And Insurers,' released on Aug. 3, 2007. Standard & Poor's believes that Group 1 entities have negligible exposure. The three banks have disclosed their investments in CDOs as follows: --DBS Bank-US$850 million, of which 22% (or US$188 million) are in ABS; --UOB-Singapore...
Companies mentioned in this report are: DBS Bank Ltd.,United Overseas Bank Ltd.,Oversea-Chinese Banking Corp. 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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