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Bulletin: No Likely Impact On Ratings On DBS Bank From Exposure To CDOs Aug 07
Standard & Poors, Aug 2007
Abstract
SINGAPORE (Standard & Poor's) Aug. 31, 2007--Standard & Poor's Ratings Services said today that it has reviewed DBS Bank Ltd.'s (DBS; AA-/Stable/A-1+) exposure to CDOs and believes that it is unlikely to adversely impact the ratings on the bank. DBS' Singapore dollar (S$) 2.4 billion exposure to CDOs makes up only 1% of the bank's total assets and 12% of the bank's shareholders' equity as of June 30, 2007. This exposure comes in two forms: direct CDO investments and a likely credit exposure to ABCP conduit called Red Orchid Secured Assets Ltd. (ROSA). DBS' exposure to ROSA, in the form of liquidity support, exposed the bank primarily to additional credit risk from this conduit, to the extent that the underlying...
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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