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Banco HSBC Salvadore?o S.A. Dec 10
Standard & Poors, Dec 2010
Abstract
Status as a strategically important subsidiary of HSBC Diversified loan portfolio, with lower exposure to real estate loans than at peers Rank as the No. 4 bank in El Salvador, by assets and portfolio Weak reserve coverage Operation in the small Salvadorian economy, bringing low prospects for growth Standard & Poor's Ratings Services' ratings on Banco HSBC Salvadore-o S.A. are constrained by the bank's vulnerable asset quality and low reserve coverage of nonperforming assets (NPAs). The ratings are also constrained by the relatively small size and limited diversification of El Salvador's economy, and strong competition in the banking system. The ratings are supported by the strategically important status of HSBC Salvadore-o to parent HSBC Holdings PLC (AA-/Stable/A-1+), HSBC Salvadore-o's diversified...
Action: Review
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: Full Analysis
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