HONG KONG (Standard&Poor's) Oct. 15, 2010--Standard&Poor's Ratings Services said today that it had assigned its 'A' issue rating to the proposed issue of Singapore dollar 2 billion in preference shares by DBS Bank Ltd. (AA-/Stable/A-1+; ASEAN scale axAAA/axA-1+). The proposed shares are non-cumulative, non-convertible, and non-voting, and are callable after ten years. The proposed preference shares would be junior to all other creditors and senior to only equity shareholders. The two notch difference between the counterparty credit rating and the issue rating is to reflect the deep subordination features of the proposed shares and the possibility that the bank may skip the dividend payment. DBS will not pay dividends if: (1) paying them results in a
