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Fitch: HSBC USA to negative
Fitch Ratings said it affirmed HSBC USA Inc.'s long-term issuer default ratings of AA and viability rating of A-.
The outlook was revised to negative in conjunction with the outlook revision of HSBC Holdings plc, Fitch said.
The affirmation primarily reflects its ownership by and strategic importance to HSBC, the agency said. With that, HSBC USA's issuer default rating would move in tandem with those of HSBC Holdings.
The ratings consider the company's more focused business model as it executes on strategic initiatives, solid capital levels and robust liquidity, Fitch said.
It also takes into account the company's modest improvements in asset quality, the agency added.
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