Moody's may up HSBC Malaysia

Moody's Investors Service said it placed HSBC Bank Malaysia Bhd's D+ bank financial strength rating on review for possible upgrade.

HSBC Malaysia's deposit ratings are unaffected, and their outlooks remain stable. The bank's A3 long-term deposit rating, which incorporates support from its parent, HSBC Holdings Plc, is constrained by Malaysia's foreign currency ceiling.

Moody's says the review was prompted by the bank's better-than-expected profitability in 2004 and declining bad loans.

In the rating agency's opinion, the trends in HSBC Malaysia's profitability and asset quality metrics to date compare favorably with its higher rated peers.

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