S&P rates HSBC notes BBB-

Standard & Poor's said that it assigned a BBB- senior debt rating to the forthcoming senior notes due 2016 of HSBC Bank Brasil SA - Banco Múltiplo (BBB-/stable/A-3).

The rating on the new notes is the same as the long-term counterparty credit rating on HSBC Brasil, reflecting the view that the notes will rank on par with other senior debt and that they will be direct, unsecured, unsubordinated and unconditional obligations of the bank.

The bank expects to use the proceeds for general corporate purposes.

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