Moody’s assigns Aa3 to DBS Bank’s proposed preference shares
Moody’s Investors Service has assigned an Aa3 rating to DBS Capital Funding II Corporation’s proposed perpetual, non-cumulative, non-convertible, non-voting guaranteed preference shares callable with step-up in 2018. The outlook for the ratings is stable.
The corporation is DBS Bank Ltd’s wholly-owned special purpose vehicle.
The rating reflects both the structure of the issue and DBS Bank’s above-average financial strength.
– www.theasianbanker.com (May 16 2008)–