Fitch keeps HSBC Germany on watch

Fitch Ratings said it maintained HSBC Trinkaus & Burkhardt AG's (HSBC Germany) AA- long-term issuer default rating on rating watch negative while affirming the bank's short-term issuer default rating at F1+.

The agency said HSBC Germany's ratings reflect a view of the extremely high likelihood that support would be provided to it by its ultimate parent HSBC Holdings plc (AA-/RWN/F1+) via its parent HSBC Bank plc (AA-/RWN/F1+), in case of need.

“This view is driven by HSBC Germany's strategic value for HSBC by providing it with access to large and medium-sized German corporate clients,” the agency said in a news release.

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