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Moody's rates United Overseas Bank notes Aa2
Moody's Investors Service said it assigned an Aa2 rating to United Overseas Bank Ltd.'s proposed Singapore dollar subordinated notes under its S$5 billion euro medium-term note program.
The outlook is stable.
According to Moody's, the proposed notes represent direct, subordinated and unsecured obligations of the bank.
In addition, the agency said the notes qualify as lower tier II capital of the bank and, as such, they have the same rating as the bank's subordinated debt rating of Aa2.
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