Moody's rates CB HSBC Aa2

Moody's Investors Service said it assigned Aa2 long- and Prime-1 short-term global local-currency issuer ratings to HSBC Casa de Bolsa, SA de CV as well as Aaa.mx long- and MX-1 short-term Mexican national scale ratings.

The outlook is stable.

The agency said the ratings on CB HSBC reflect the broker's very close links and integration with HSBC Mexico, SA. As part of Grupo Financiero HSBC Mexico, CB HSBC shares common infrastructure, brand staff and risk management practices with its fellow group entities.

Moody's noted that on a standalone basis, CB HSBC would most likely be rated non-investment grade because of its very limited business diversification and modest earning power.

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