Moody's lifts HSBC Bank Malaysia view to stable

Moody's Investors Service said it affirmed HSBC Bank Malaysia Bhd.'s long-term A1 local-currency and A3 foreign-currency deposit ratings and short-term P-1 local-currency and P-2 foreign-currency deposit ratings.

The agency also affirmed the bank's baseline credit assessment and adjusted baseline credit assessment of Baa1 and A1, along with the A1(cr)/P-1(cr) counterparty risk assessments.

The bank's outlook also was revised to stable from negative.

These actions follow the downgrade of its parent bank, the Hongkong and Shanghai Banking Corp. Ltd. on Sept. 27, 2017, Moody's said.

The parent bank's long-term senior unsecured ratings were downgraded to Aa3 from Aa2 while its adjusted baseline credit assessment was downgraded to A1 from Aa3, the agency said.

The ratings reflect the bank's solid liquidity profile, good deposit franchise and favorable funding structure with a low reliance on market sensitive funding sources, Moody's said.

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