DBRS: HSBC Finance on negative review

DBRS said it placed the A (low) senior debt ratings of HSBC Finance Corp. under review with negative implications.

The negative review follows a similar review placed on the ratings of HSBC Holdings plc, HSBC Finance’s ultimate parent, the agency said.

The review was placed on the senior debt and deposit ratings of a number of banking groups in Europe, including HSBC Holdings, which benefit from some uplift for systemic support, DBRS said.

The agency said that recent developments in European regulation and legislation mean that there is less certainty about the likelihood of timely systemic support for these systemically important banks.

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