Fitch affirms HSBC Bank Middle East

Fitch Ratings said it has affirmed HSBC Bank Middle East's ratings at long-term issuer default AA-, short-term issuer default rating F1+, individual B and support 1.

The outlook remains stable.

The agency said that HSBC Bank Middle East's issuer default ratings and support rating reflect the extremely high probability that the bank would be supported by its parent, HSBC Holdings plc (rated AA/F1+/stable outlook), in case of need.

The Individual rating reflects the strength of its regional franchise, its consistent profitability, sound asset quality, liquidity and capitalization, as well as the benefits of being part of the HSBC Group where HBME has access to group-wide treasury and risk management systems and expertise, Fitch noted.

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