SINGAPORE (Standard&Poor's) July 31, 2013--Standard&Poor's Ratings Services said today that it had affirmed its counterparty credit ratings and ASEAN regional scale ratings on three Singapore banks: DBS Bank Ltd. (AA-/Stable/A-1+; axAAA/axA-1+)), United Overseas Bank Ltd. (AA-/Stable/A-1+; axAAA/axA-1+), and Oversea-Chinese Banking Corp. Ltd. (AA-/Stable/A-1+; axAAA/axA-1+). "The affirmations reflect our expectations that the banks' strong financial profiles and prudent management strategies will provide buffers against any possible pressure on asset quality from high property prices and a potential turn in the interest-rate cycle," said Standard&Poor's credit analyst Ivan Tan. Our overall assessment of the Singapore banks we rate incorporates the following key points: We have already factored in an elevated risk of economic imbalances from high
