HONG KONG (Standard&Poor's CreditWire) May 31, 2001--Standard&Poor's today assigned its double-'A'-minus long-term and 'A-1'-plus short-term local currency counterparty ratings, and single-'A'-plus long-term foreign currency counterparty rating to The Hongkong and Shanghai Banking Corp. Ltd. At the same time, Standard&Poor's affirmed its 'A-1' short-term foreign currency counterparty rating on the bank. The foreign currency ratings are constrained by the ratings assigned to the Hong Kong Special Administrative Region, China. Outlooks for the long-term ratings on The Hongkong and Shanghai Banking Corp. are stable. The ratings on the bank reflect its stand-alone profile, which is enhanced by the advantages of being a member of the wider HSBC Holdings PLC group (HSBC group). The Hongkong and Shanghai
