Moody's cuts HSBC Bank USA outlook to negative

Moody's Investors Service said it changed the outlook on the B- bank financial strength rating of HSBC Bank USA, NA to negative from stable.

In the same rating action, Moody's said it affirmed the deposit and debt ratings of HSBC Bank USA, NA and the debt ratings of HSBC USA, Inc., its immediate parent.

The outlook on all the affirmed deposit and debt ratings is stable.

Moody's said that the change in the outlook on the rating was prompted by HSBC USA's weakening financial fundamentals and expectations that they will remain under pressure for the foreseeable future.

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