Ratings On HSBC Bank PLC Credit-Linked Notes Reinstated To 'AA-' From 'AA' - S&P Global Ratings’ Credit Research

Ratings On HSBC Bank PLC Credit-Linked Notes Reinstated To 'AA-' From 'AA'

Ratings On HSBC Bank PLC Credit-Linked Notes Reinstated To 'AA-' From 'AA' - S&P Global Ratings’ Credit Research
Ratings On HSBC Bank PLC Credit-Linked Notes Reinstated To 'AA-' From 'AA'
Published Aug 11, 2016
2 pages (983 words) — Published Aug 11, 2016
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

SINGAPORE (S&P Global Ratings) Aug. 11, 2016--S&P Global Ratings today said it has corrected its ratings on HSBC Bank PLC's US$40 million 4.40% credit-linked notes (CLNs) due Dec. 20, 2024, and US$50 million 4.00% CLNs due Sept. 20, 2024, by lowering them to 'AA-' from 'AA'. The error occurred on Aug. 8, 2016, when we raised the issue ratings on the CLNs to 'AA' from 'AA-', after we raised our sovereign ratings on the CLNs' reference entity--the Republic of Korea. Under our criteria, the issue ratings on CLNs reflect the lower of the issuer or reference entity rating. Therefore, the ratings on the CLNs should have remained at 'AA-', the rating on the issuer, HSBC Bank PLC.

  
Brief Excerpt:

...Primary Credit Analyst: YeeFarn Phua, Singapore (65) 6239-6341; yeefarn.phua@spglobal.com Secondary Contact: Richard Barnes, London (44) 20-7176-7227; richard.barnes@spglobal.com...

  
Report Type:

Ratings Action

Ticker
MID@LN
Issuer
HSBC Bank PLC
GICS
Diversified Banks (40101010)
Sector
Global Issuers, Public Finance, Structured Finance
Country
United Kingdom
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Ratings On HSBC Bank PLC Credit-Linked Notes Reinstated To 'AA-' From 'AA'" Aug 11, 2016. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Ratings-On-HSBC-Bank-PLC-Credit-Linked-Notes-Reinstated-To-AA-From-AA-1691280>
  
APA:
S&P Global Ratings’ Credit Research. (). Ratings On HSBC Bank PLC Credit-Linked Notes Reinstated To 'AA-' From 'AA' Aug 11, 2016. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Ratings-On-HSBC-Bank-PLC-Credit-Linked-Notes-Reinstated-To-AA-From-AA-1691280>
  
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