S&P affirms HSBC Asia Pacific

S&P said it affirmed its AA- long-term issuer credit rating on the Hongkong and Shanghai Banking Corp. Ltd. (HSBC Asia Pacific). The outlook is stable.

At the same time, S&P affirmed its A-1+ short-term issuer credit rating on the bank and also affirmed all the ratings on the bank's outstanding notes.

“HSBC Asia Pacific's capital remains strong, in our view, notwithstanding higher-than-expected credit growth in the first half of 2017. The buffer is also sufficient to cover a potential worsening of economic risk in Hong Kong brought about by the ongoing surge in property prices and flow on effects from elevated credit growth in China.

“We forecast the bank's risk-adjusted capital (RAC) ratio to stay in the range of 11%-12% over the next 18-24 months,” S&P said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.