Moody's rates HSBC Bank Canada A3

Moody's Investors Service said it assigned a long-term issuer rating of A3 to HSBC Bank Canada with a stable outlook.

The bank's other ratings and assessments were unaffected by this action.

The ratings reflect the bank's nationwide banking franchise with a geographic concentration in western Canada, supported by the benefits of its close integration with HSBC group's global operations, Moody's said.

The bank's Baa3 standalone baseline credit assessment reflects its national retail lending and branch franchise, the agency said, as well as its diversified wholesale loan portfolio.

These strengths are constrained by the relative large size of the bank's commercial banking loan portfolio, which was 506% of the bank's common equity tier 1 capital, Moody's said.

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