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DBS Bank Ratings Affirmed On Plan To Buy 19.7% of Philippine Bank Shares

Published Dec 23, 1999

592 words — Published Dec 23, 1999

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Abstract:

SINGAPORE (Standard&Poor's CreditWire) Dec. 23, 1999-- Standard&Poor's today affirmed its single-'A'-plus long-term and 'A-1' short-term counterparty credit ratings on The Development Bank of Singapore Ltd. (DBS Bank) and single-'A'-minus rating on DBS Bank's US$750 million subordinated note issue, due 2009. The outlook on the long-term rating remains stable. At the same time, the double-'Bpi' local currency ratings on the Bank of the Philippine Islands (BPI) and Far East Bank&Trust Co. (FEB) of the Philippines, which are anticipated to merge by March 2000, are affirmed. The affirmations follow DBS Bank's announcement today that it will acquire a 19.7% stake in the merged BPI-FEB entity for a total consideration of US$720 million. DBS Bank's strong business

Brief Excerpt:

RESEARCH DBS Bank Ratings Affirmed On Plan To Buy 19.7% of Philippine Bank Shares Publication date: 23-Dec-1999 SINGAPORE (Standard & Poor's CreditWire) Dec. 23, 1999-- Standard & Poor's today affirmed its single-'A'-plus long-term and...

Report Type:

Ratings Action

Ticker

1471Z@SP

Issuer

DBS Bank Ltd.

GICS

Diversified Banks (40101010)

Sector

Global Issuers, Structured Finance

Country

Singapore

Region

Latin America

Format:

PDF

DBS Bank Ratings Affirmed On Sound Fundamentals; Outlook Still Stable – 2000/03/08 – US$ 150.00

S&PCORRECT: DBS Bank's Second Issue Subordinated Notes Rated 'A-' – 2000/04/06 – US$ 150.00

Development Bank of Singapore Ratings Affirmed Following Vickers Bid – 2001/02/13 – US$ 150.00

S&PCORRECT: DBS Bank on CreditWatch Neg, Dao Heng Bank on Watch Pos After Majority Stake Bid – 2001/04/15 – US$ 150.00

S&PCORRECT: DBS Bank's Proposed $850 Million Subordinated Notes Rated 'A-'; On Watch Negative – 2001/05/11 – US$ 150.00

Development Bank of Singapore Medium Term Subordinated Notes Rated 'A-' – 1999/07/29 – US$ 150.00

Development Bank Of Singapore Assigned 'A+'/'A-1' Counterparty Credit Ratings; Outlook Stable – 1999/07/16 – US$ 150.00

S&P Affirms Api Rating on DBS Bank – 1998/12/21 – US$ 150.00

S&P Downgrades Rating On Devt. Bank Of Singapore – 1998/08/27 – US$ 150.00

S&P Affirms AApi Rating on DBS Bank – 1998/07/27 – US$ 150.00

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MLA:	S&P Global Ratings’ Credit Research. "DBS Bank Ratings Affirmed On Plan To Buy 19.7% of Philippine Bank Shares" Dec 23, 1999. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/DBS-Bank-Ratings-Affirmed-On-Plan-To-Buy-19-7-of-Philippine-Bank-Shares-136002>

APA:	S&P Global Ratings’ Credit Research. (). DBS Bank Ratings Affirmed On Plan To Buy 19.7% of Philippine Bank Shares Dec 23, 1999. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/DBS-Bank-Ratings-Affirmed-On-Plan-To-Buy-19-7-of-Philippine-Bank-Shares-136002>

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