...HSBC's Support Drives Ratings: HSBC Trinkaus & Burkhardt AG's (HSBC Trinkaus) Issuer Default Ratings (IDRs) are aligned with those of its ultimate parent HSBC Holdings plc (HSBC) as Fitch Ratings believes support from HSBC would be extremely likely if ever needed. Strongly Integrated: The close integration into HSBC's global network and the distribution of HSBC products to internationally active German clients determine HSBC Trinkaus's business model and represent a competitive advantage in Germany's saturated corporate banking market. HSBC Trinkaus is firmly positioned as HSBC's German arm and focuses on exploiting the growth potential in the German market as part of the group's global strategy. No VR: We do not assign a Viability Rating (VR) to HSBC Trinkaus as we believe the bank no longer intends to maintain a standalone franchise that could exist without HSBC's ownership. Reliable Profit Contributor: HSBC Trinkaus's profitability, with an operating RoAE between 11% and 16% since 2012,...
