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BULLETIN: DBS Group Holdings Raising S$2.1 Billion in Equity Nov 01
Standard & Poors, Nov 2001
Abstract
The announcement by DBS Group Holdings Ltd. (DBSH), the listed holding company of Development Bank of Singapore (DBS Bank; A+/Stable/A-1) that it will be issuing Singapore dollar (S$) 2.1 billion (US$1.17 billion) worth of common ordinary shares, will not have an impact on the ratings on DBS Bank. In the event that DBSH elects to inject the entire S$2.1 billion capital funds into the bank, DBS Bank's capitalization (as measured by adjusted common equity to adjusted assets based on pro forma figures as of end June 2001) is likely to reach about 5.3%. Standard & Poor's computes adjusted common equity and adjusted total equity after deducting all goodwill....
Companies mentioned in this report are: DBS Bank Ltd.
Action: S&P Event
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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