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Fitch Rates HSBC USA Inc.'s Preferred Stock 'AA-'
Business Wire, April 5, 2005
NEW YORK -- Fitch Ratings has assigned a long-term rating of 'AA-' to HSBC USA Inc.'s (HUSA) issuance of preferred stock. The Rating Outlook is Stable. HUSA is issuing $450 million of floating-rate, noncumulative perpetual preferred stock. The issue will pay a dividend based on three-month LIBOR plus 0.75%, with a floor of 3.5%.
The following ratings were assigned by Fitch to HSBC USA, Inc.:
-- Preferred stock 'AA-'.
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