HONG KONG (Standard&Poor's) Dec. 2, 2009--Standard&Poor's Ratings Services said today that its counterparty credit ratings on Singapore-based DBS Bank Ltd. (DBS; AA-/Stable/A-1+; ASEAN scale axAAA/axA-1+) were not affected by the bank's announcement of its credit exposure to the city-state of Dubai. We expect DBS' credit profile to remain well supported by its solid franchise in the core Singapore market, outstanding liquidity profile, sound capitalization, and strong financial flexibility, which has been enhanced by its parent's rights issue of Singapore dollars (S$) 4 billion earlier this year. We expect any loss in the bank's partially collateralized exposure to Dubai of S$1.8 billion, including a S$558 million loan affected by last week's standstill notice, is unlikely to significantly
