TEXT: S&P Rates UOB's Medium-Term Notes Drawdown 'AA-'
(The following was released by the rating agency)
SINGAPORE (Standard & Poor's) Feb. 29, 2012--Standard & Poor's Ratings Services today assigned its 'AA-' rating to senior unsecured notes to be issued by United Overseas Bank Ltd. (AA-/Stable/A-1+; axAAA/--/axA-1+) as part of its existing Singapore dollar (S$) 5 billion medium-term notes program. The notes shall at all times rank pari passu with all other unsecured obligations of the bank.
RELATED CRITERIA AND RESEARCH
-- Banks: Rating Methodology And Assumptions, Nov. 9, 2011
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