Company's core importance to highly rated parent Track record of parent capital contributions Large and diverse U.S. business franchise integral to parent's strategy Sizable deposit base Weakening asset quality High exposure to credit card lending and large corporate loans Weak core earnings, compounded by recent high loan-loss provisions and trading asset write-downs The ratings on HSBC USA Inc. and its bank subsidiary, HSBC Bank USA N.A., reflect the implied and demonstrated support of their ultimate parent, HSBC Holdings PLC (AA-/Negative/A-1+). A very significant ratings factor is our belief that HSBC USA is a core, integral subsidiary of the HSBC group, which has had a longstanding strategic presence in the U.S. markets. Most important is HSBC Holding's track record of equity
