Moody’s changes HSBC France view downward

Moody’s Investors Service said it affirmed the Aa3 long-term senior unsecured debt ratings of HSBC France. Concurrently, Moody’s changed the outlook on the long-term senior unsecured ratings to negative from stable.

This action follows Moody’s affirmation of HSBC Holdings plc’s A2 senior unsecured long-term debt ratings and change in outlook to negative from stable. This change in outlook reflects additional risks and costs attached in the short-term to a material repositioning of HSBC bank in Europe, including France, and in the group’s businesses in the U.S., details of which should be unveiled in February 2020.

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