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S&P revises HSBC Finance to stable
Standard & Poor's said it revised its outlook on HSBC Finance Corp. to stable from negative and affirmed its A rating.
"We believe that HSBC Finance Corp. has made substantial progress winding down its residential real estate portfolio and that the HSBC group will continue to provide support until all of the assets are liquidated," S&P credit analyst Stephen Lynch said in a news release.
As a result, the agency revised the outlook to stable, in line with the outlook on its parent, HSBC Holdings plc.
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