SINGAPORE (Standard&Poor's) June 9, 2006--Standard&Poor's Ratings Services said today it assigned its 'A' rating to Singapore's DBS Bank Ltd.'s (AA-/Stable/A-1+) proposed subordinated notes issue due 2021. The notes are callable with step-up in 2016. The exact amount of the issue will be determined at placement. The proposed subordinated notes will rank: --Junior to the claims of senior creditors, including depositors, but will rank senior to all share capital of DBS Bank and other Tier 1 capital securities permissible under local regulatory definitions. --Pari passu with DBS Bank's existing and with all and future subordinated debt issued that qualify as upper Tier 2 capital, as approved by the Monetary Authority of Singapore (MAS; the local regulator). The
