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-/Stable'). The most 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, as well as HSBC Holding's track record of equity contributions to HSBC USA. Capitalizing on the group's brand name, HSBC USA is a key U.S platform for the group, mainly because of its sizable U.S. deposit base and its diverse U.S. lending businesses. The ratings also consider HSBC USA's standalone creditworthiness, which is somewhat aided by its business profile, but which
