Moody’s: HSBC China, Hang Seng China to negative

Moody's Investors Service said it changed the outlook on the ratings for HSBC Bank (China) Co. Ltd. and Hang Seng Bank (China) Ltd. to negative from stable.

At the same time, the agency affirmed the two banks' baseline credit assessments (BCAs), adjusted BCAs, counterparty risk assessments (CR assessments), as well as all their ratings.

Moody's actions follow similar rating actions taken on the two banks' parents, Hongkong and Shanghai Banking Corp. Ltd. (Aa2 negative) and Hang Seng Bank Ltd. (Aa2 negative), and the change of Moody's Macro Profile for China's banking system to "moderate" from "moderate+."

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