Fitch gives Investsmart AAA(ind)

Fitch Ratings said it has assigned Investsmart Financial Services Ltd. a national long-term rating of AAA(ind) and a national short-term rating of F1+(ind).

At the same time, the agency said it has assigned the company's five billion rupee long-term debt program a national long-term rating of AAA(ind) and its 10 billion rupee short-term debt/commercial paper program a national short-term rating of F1+(ind).

The outlook on the long-term rating is stable.

According to Fitch, the ratings reflect the support and strong linkages between Investsmart and its ultimate parent, HSBC Holdings plc (long-term foreign currency issuer default rating AA, individual rating B, support 5, no support rating floor, outlook stable).

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