Moody’s views Hongkong and Shanghai Bank negatively

Moody’s Investors Service said it changed its outlook for Hongkong and Shanghai Banking Corp. Ltd.’s issuer and senior unsecured ratings (HBAP) to negative from stable and affirmed its Aa3 ratings.

“The outlook change to negative on the bank's long-term senior unsecured rating and issuer rating reflects the outlook change on the government of Hong Kong SAR, China's (Aa3 negative) rating to negative from stable, following Moody's outlook change on the government of China's (A1 negative) rating to negative from stable,” the agency said in a press release. SAR stands for special administrative region.

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