HONG KONG (Standard&Poor's CreditWire) Feb. 14, 2001--Standard&Poor's today affirmed its single-'A'-plus long-term and 'A-1' short-term counterparty credit ratings on Development Bank of Singapore Ltd. (DBS) and its single-'A'-minus issue credit rating on both of DBS's subordinated note issues (due August 2009 and April 2010). The outlook on the ratings remains stable. The affirmations follow DBS's announced bid to acquire a stake of up to 59.47% in one of Singapore's largest stock brokerages, Vickers Ballas Holdings Ltd. for an estimated Singapore dollar (S$) 450 million. The relative size of the acquisition, less than 1% in terms of total asset size, implies that the near-term impact on DBS's financial profile will not be material. DBS's strong capitalization will
