Bulletin: Ratings On Singapore Banks Remain Unaffected By CDO Exposure Nov 07

Standard & Poors, November 2007

Abstract
SINGAPORE (Standard & Poor's) Nov. 7, 2007--Standard & Poor's Ratings Services said today it continues to believe that the impact on the ratings of Singapore banks due to their reported exposure to CDOs (including U.S. subprime mortgage-related instruments) is minimal 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 titled "U.S. Subprime Impact Limited On Rated Asia-Pacific Banks And Insurers," published on Aug. 3, 2007, on RatingsDirect, the real-time Web-based source for Standard & Poor's credit ratings, research, and risk analysis. Standard & Poor's believes that Group 1 entities have negligible exposure. The...

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.

- DBS Bank Ltd.
- United Overseas Bank Ltd.
- Oversea-Chinese Banking Corp. Ltd.

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