Fitch affirms HSBC

Fitch Ratings said it affirmed HSBC Holdings plc's ratings at long-term AA, short-term F1+, individual A/B and support 5.

The outlook for the long-term rating is stable.

Fitch added HSBC's subordinated debt and preferred securities have been affirmed at AA-.

"HSBC's ratings reflect the strength of its global franchises, diversified earnings, robust profitability, strong funding base and liquidity, satisfactory asset quality and adequate capitalization," said James Longsdon, Fitch senior director.

The stable outlook reflects the group's good risk management, conservative risk appetite and the scale and diversity of its operations, which have enabled it to counter or absorb weaker economic cycles, Fitch said.

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