Fitch assigns DBS Bank notes AA-(emr)

Fitch Ratings said it assigned DBS Bank Ltd.'s $20 million 15-year callable range accrual notes due March 31, 2030 a rating of AA-(emr).

The notes were issued on March 31 under DBS' structured note program.

The (emr) suffix indicates that the rating only reflects the counterparty credit risk of DBS, and excludes the embedded market risk that may vary the size of the coupon payments on the notes.

The notes are rated at the same level as DBS' AA- Long-term issuer default rating as they constitute direct, unsecured and unsubordinated obligations of DBS and rank equally with all its other unsecured, unsubordinated obligations.

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