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'AA-' Rating Assigned to DBS Bank's S$100 Million Credit-Linked Notes to Retail Investors Dec 05
Standard & Poors, Dec 2005
Abstract
MELBOURNE (Standard & Poor's) Dec. 9, 2005--Standard & Poor's Ratings Services today said it had assigned its 'AA-' rating to the S$100 million portfolio credit-linked notes (CLNs) to be issued by DBS Bank Ltd. (DBS). Noteholders are effectively buying credit risk on a senior tranche of a reference portfolio comprising corporates, financial institutions, and sovereigns. The reference portfolio is diversified by geography and industry. DBS Asset Management Ltd. has been appointed to manage the reference portfolio. The proceeds of the notes will be retained by DBS, and as such, the rating of the notes is capped at the long-term credit rating of DBS. The scheduled term for maturity on the notes is five years....
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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