We consider that the increased resilience of the U.K. banking industry has strengthened its ability to deal with the uncertain--and potentially turbulent--period in the run-up to the U.K.'s exit from the EU in March 2019. We consider that HSBC group's highly diversified business and risk profiles continue to underpin its creditworthiness. We are revising our outlook on HSBC Holdings PLC and certain related entities to stable from negative, and affirming our 'A/A-1' issuer credit ratings on HSBC Holdings. The stable outlook reflects our expectation that HSBC will maintain a robust balance sheet and performance level over our two-year horizon. On Nov. 15, 2017, S&P Global Ratings revised its outlook on U.K.-incorporated HSBC Holdings PLC, HSBC group's (HSBC) nonoperating holding company,
