Business Services Industry
USA: MOODY'S DOWNGRADES HSBC USA, INC.
IPR Strategic Business Information Database, March, 2009
Moody's Investors Service downgraded the long-term deposit and debt ratings and the bank financial strength rating of HSBC USA, Inc. and its subsidiaries. The senior unsecured rating of HSBC USA, Inc. was lowered to A1. The bank financial strength rating (BFSR) of HSBC Bank USA, N.A. was downgraded to C from C , and its long-term deposit and senior unsecured ratings, to Aa3 from Aa2.
In the same rating action, Moody's affirmed the short-term deposit and debt ratings of HSBC USA, Inc. and HSBC Bank USA, N.A. at Prime-1. Following the downgrade, the outlook on all ratings was changed to negative from stable. HSBC USA, Inc. and HSBC Bank USA, N.A. are both indirect subsidiaries of HSBC Holdings plc. HSBC USA, Inc. and its subsidiaries, including HSBC Bank...
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