Fitch assigns ‘A+’ rating to DBS’ preference shares
Fitch Ratings has assigned a Long-term rating of ‘A+’ to Singapore-based DBS Bank Ltd’s (DBS) proposed issue of Singapore dollar non-cumulative non-convertible non-voting Guaranteed Preference Shares, callable with step-up in 2018 (Preference Shares).
(more…)
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.
(more…)
Moody’s: Philippine bank reliance on remittances double edged
Moody’s Investors Service says the reliance of Philippines banks on remittances from the country’s overseas workforce provides enhancements to earnings stability and credit quality over the near and medium term.
“In addition, the combination of rising remittance flows and the renewed interest of banks in building consumer financial services has helped revive domestically retail banking products, which have grown faster than other types of loans,” says Richard Lung, a Moody’s VP/Senior Analyst.
(more…)
Moody’s changes Barclays Bank’s debt and deposit ratings
Moody’s Investors Service has changed the outlook for Barclays Bank’s debt and deposit ratings (Senior at Aa1) from stable to negative, and downgraded the bank’s Bank Financial Strength Rating (BFSR) to B from B+. The outlook on the BFSR remains negative.
(more…)
AsiaNet Daily Summary - Press Releases for Thursday May 15, 2008
THOMSON REUTERS DONATION… NEW YORK - Thomson Reuters (NYSE: TRI; TSX: TRI; LSE: TRIL; Nasdaq: TRIN), the world’s leading source of intelligent information for businesses and professionals, today announced that Thomson Reuters and its Foundation will support disaster relief efforts in Myanmar with a donation totaling $300,000.
(more…)
TRIS Rating Assigns “A+/Posiitve” Ratings for New Senior Debentures of “BAY”
TRIS Rating Co., Ltd. has assigned the “A+” ratings for the proposed issues of Bt15,000 million and Bt5,000 million in senior debentures of Bank of Ayudhya PLC (BAY). At the same time, TRIS Rating has affirmed the company rating of BAY at “A+” and has also affirmed the rating of BAY’s subordinated debentures (BAY13NA) at “A”.
(more…)
Fitch Rates Bank of Ayudhya’s THB 20bn debenture program
Fitch Ratings (Thailand) Limited has today assigned National Long-term ratings of ‘A+(tha)’ to two tranches of Bank of Ayudhya Public Company Limited’s (BAY) unsecured and unsubordinated debentures of up to THB20 billion, due 2010 and 2011. The Outlook on the bank is Positive.
The rating reflects the bank’s strong capital position and franchise, together with the operational and financial support of GE Capital International Holdings Corporation (GECIH) which now holds 35% of total shares in the bank.
(more…)
Fitch Rates Bank of Ayudhya’s THB20bn debenture program ‘A+(tha)’
Fitch Ratings (Thailand) Limited has today assigned National Long-term ratings of ‘A+(tha)’ to two tranches of Bank of Ayudhya Public Company Limited’s (BAY) unsecured and unsubordinated debentures of up to THB20 billion, due 2010 and 2011. The Outlook on the bank is Positive.
The rating reflects the bank’s strong capital position and franchise, together with the operational and financial support of GE Capital International Holdings Corporation (GECIH) which now holds 35% of total shares in the bank.
(more…)
Photo Release: TISCO Asset Management’s Annual Meeting
TISCO Asset Management Co.,ltd. led by Araya Thirakomen, Deputy Managing Director and Head of Provident Fund Business (3rd from left) recently held the Annual General Meeting and the provident fund committee meeting of Ruamtun 1, 2 and Ruamtun Mankong, provident funds under management of the company, to report the performance and investment policy of each fund and to give an economic review.
(more…)
INTERMACH 2008 and SUBCON THAILAND 2008 starting now
The Ministry of Industry expects INTERMACH 2008 and SUBCON THAILAND 2008 to help stimulate the current economy as the authority is prepared to support increased capabilities on the part of the Thai manufacturers. The Board of Investment (BOI) is also positive that SUBCON THAILAND 2008 will enable small Thai subcontractors to meet directly with large buyers through the matchmaking program that should promote up to 1,500 business transactions worth over 2 billion baht in value.
Meanwhile, the INTERMACH 2008 prepares to showcase over 3,500 items of technological machinery including the laser and waterjet technology used in processing metal sheets.