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| Abstract: | Core subsidiary of HSBC Asia Pacific The negative outlook on Hang Seng Bank (China) Ltd. (Hang Seng China) reflects our negative outlook on the sovereign credit ratings on China (AA-/Negative/A-1+; cnAAA/cnA-1+). We do not expect the bank to be rated above the sovereign. Nevertheless, we expect Hang Seng China to remain a core subsidiary of The Hongkong and Shanghai Banking Corp. Ltd. (HSBC Asia Pacific; AA-/Stable/A-1+). We could downgrade Hang Seng China if we lower the sovereign credit rating on China. In an unlikely scenario, we could also downgrade Hang Seng China if: (1) we lower the rating on Hang Seng Bank Ltd. (Hang Seng); or (2) we no longer consider Hang Seng China to be a core subsidiary of |
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| Brief Excerpt: | ...Outlook The negative outlook on Hang Seng Bank (China) Ltd. (Hang Seng China) reflects our negative outlook on the sovereign credit ratings on China (##-/Negative/A-1+; cnAAA/cnA-1+). We do not expect the bank to be rated above the sovereign. Nevertheless, we expect Hang Seng China to remain a core subsidiary of The Hongkong and Shanghai Banking Corp. Ltd. (HSBC Asia Pacific; ##-/Stable/A-1+).... |
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| Report Type: | |
| Issuer | |
| GICS | Diversified Banks (40101010) |
| Sector | Global Issuers, Public Finance, Structured Finance |
| Country | |
| Region | Europe, Middle East, Africa |
| Format: | | PDF |  |
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