Moody's ups some HSBC USA ratings

Moody's Investors Service said it upgraded the senior debt ratings of HSBC USA Inc. to A1 from A2 and HSBC USA's provisional subordinated and preferred stock ratings and the subordinated debt rating of HSBC USA Inc.'s bank subsidiary, HSBC Bank USA, NA subordinated to Aa3 from A1.

The agency placed the ratings on review for possible upgrade on July 12. All other ratings of HSBC USA and HSBC Bank USA are unaffected by this action. The outlook is stable.

The upgrades reflect the outcome of Moody's advanced loss given failure analysis, the agency said. The agency concluded that there was enough loss-absorbing capacity issued by the two entities’ intermediate parent to warrant a one notch upgrade.

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