TEXT-S&P assigns 'AA-/A-1+' ratings to UOB's CP notes program

Fri Jan 18, 2013 5:13am EST

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(The following statement was released by the rating agency)

Jan 18 - Standard & Poor's Ratings Services today assigned its 'AA-' long-term and 'A-1+' short-term issue ratings to the US$10 billion commercial paper notes program of United Overseas Bank Ltd. (UOB: AA-/Stable/A-1+; axAAA/axA-1+).

The program's notes will constitute direct, unsecured, and unsubordinated obligations of UOB and rank equally with the bank's other unsecured and unsubordinated obligations. The notes will be denominated in U.S. dollar and have a maximum maturity of 397 days.

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