Moody's might upgrade three Hong Kong banks

Moody's Investors Service said it placed the Aa2 long-term foreign-currency deposit ratings of the Hongkong and Shanghai Banking Corp. Ltd. and Hang Seng Bank Ltd. on review for possible upgrade.

The agency also said it placed the Aa2 long-term foreign- and local-currency senior unsecured debt and issuer ratings of the Hong Kong Mortgage Corp. Ltd. on review for possible upgrade.

The reviews follow news that the agency placed on review for possible upgrade Hong Kong's Aa2 foreign-currency bank deposit ceiling and Aa2 long-term foreign- and local-currency government bond ratings.

The long-term foreign-currency deposit ratings of the companies are currently constrained by Hong Kong's foreign-currency bank deposit ceiling of Aa2, Moody's said.

A one-notch upgrade of the ceiling would lead to similar positive changes to the constrained ratings of the companies, the agency said.

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