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'BB' Rating On HSBC Bank Brasil S.A. Affirmed
Standard & Poors, Feb 2007
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
SAO PAULO (Standard & Poor's) Feb. 14, 2007-Standard & Poor's Ratings Services said today that it affirmed its 'BB/B' counterparty credit rating on HSBC Bank Brasil S.A. (HSBC Brasil). The outlook is positive. 'The rating reflects the bank's focus on the consumer finance and middle-market segments, and its higher exposure to credit risk; the challenge to boost its profitability in a very competitive environment; and the inherent risk of operating in the volatile Brazilian economy. These risk factors are partially tempered by the benefit of being fully owned and potentially supported by HSBC Holdings PLC (HSBC; AA-/Positive/A-1+), HSBC Brasil's established market position in the consumer finance segment, and good liquidity to face unexpected losses or volatility,' said Standard & Poor's...
Companies mentioned in this report are: HSBC Bank Brasil S.A.
Action: Affirmed
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