Fitch affirms Hongkong and Shanghai Banking

Fitch Ratings said it affirmed Hongkong and Shanghai Banking Corp.'s long-term foreign-currency issuer default rating at AA and short-term foreign-currency issuer default rating at F1+.

The outlook remains negative.

The rating reflects the bank's robust underlying profitability, operational diversity, strong funding and liquidity profiles and satisfactory capitalization, Fitch said.

The ratings also consider the high likelihood of support, in the event of need, from parent HSBC Holdings plc, the agency said.

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