Moody's rates HSBC Mexico notes Aa3

Moody's Investors Service said it assigned an Aa3 long-term global local-currency subordinated debt rating to the first takedown of up to Ps. 2.5 billion to be issued under HSBC Mexico, SA's Ps. 10 billion program of non-convertible subordinated notes eligible for Tier 2 capital treatment. Moody's de Mexico assigned a long-term subordinated debt rating of Aaa.mx to these notes.

The agencies also assigned an A1 global local-currency long-term subordinated debt rating and an Aaa.mx Mexican national scale long-term subordinated debt rating to the bank's up to Ps. 5 billion non-convertible subordinated notes program that is eligible for Tier 1 capital treatment.

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