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DBRS ups HSBC to stable
DBRS Inc. said it changed the trends on HSBC Holdings plc and its subsidiaries HSBC Bank Canada, HSBC Finance Corp., HSBC USA Inc. and HSBC Bank USA, NA to stable from negative.
DBRS said it also confirmed HSBC Holdings' AA (high) issuer and long-term debt ratings and R-1 (high) short-term rating, HSBC Finance's A senior debt ratings and HSBC USA's AA senior debt and issuer ratings.
The trend revisions and ratings for the subsidiaries follow the trend change of parent HSBC Holdings, the agency said.
The confirmations consider HSBC Holding's resilient performance throughout the crisis, its reduced risk profile and overall strong fundamentals including robust liquidity, solid capitalization, sound internal capital generation ability and a conservative risk-appetite, DBRS said.
The revision recognizes the positive momentum evidenced across the franchise, DBRS said.
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