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Moody's downgrades HSBC U.S. banks
Moody's Investors Service said it downgraded the supported debt ratings of HSBC Holdings plc's U.S. subsidiaries, including HSBC USA Inc., HSBC Bank USA, NA and HSBC Finance Corp.
Moody's said these downgrades follow the downgrade of HSBC's senior debt rating to Aa3 from Aa2.
The actions reflect the potential adverse effects of HSBC's lower capacity to support its U.S. subsidiaries, reflected by the downgrade of the HSBC group's intrinsic financial strength to A1 from Aa3, the agency said.
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