The ratings on Hongkong and Shanghai Banking Corp. Ltd. (HSBC Asia-Pacific) reflect the bank's status as a core entity of the HSBC group, led by HSBC Holdings PLC (HSBC Holdings; AA-/Stable/A-1+). As a result, Standard&Poor's Ratings Services incorporates one notch of uplift into the long-term rating on the bank. The ratings also reflect the bank's leading position in the domestic banking sector in Hong Kong, its extensive presence in the Asia-Pacific region, and its very strong brand name and franchise. HSBC Asia-Pacific's standalone credit profile is constrained by the modest to modestly high industry risk in the banking sectors in Hong Kong and most of the other Asian markets where the bank operates, and concentrated exposure to property.
