SINGAPORE (Standard&Poor's CreditWire) March 9, 2000-- 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 its 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. The affirmations, following DBS Bank's release of its fiscal 1999 results, are based on the bank's strong domestic franchise, good underlying operating profitability, and sound capitalization. DBS Bank's loan quality, however, continues to suffer from weakness stemming from its regional exposures outside Singapore. Boosted by the Post Office Savings Bank (POSBank) acquisition, DBS Bank currently enjoys a stable position as the largest commercial bank in Singapore, with
