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Banco HSBC Salvadore?o S.A. 'BB-/B' Ratings Affirmed, Outlook Stable Jan 12
Standard & Poors, Jan 2012
Abstract
After HSBC Holding PLC's announcement of its sale of its subsidiary Banco HSBC Salvadore-o, we now consider this entity a non-strategic subsidiary of its parent company. We are affirming our 'BB-/B' issuer credit ratings on the bank. Banco HSBC Salvadore-o-s 'adequate' business position, capital and earnings, risk position, and liquidity, and average funding, support its stand alone credit profile (SACP). The ratings on El Salvador constrain the bank's ratings; the outlook on the ratings is therefore stable. MEXICO CITY (Standard & Poor's) Jan. 25, 2012--Standard & Poor's Ratings Services affirmed its 'BB-/B' issuer credit ratings on Banco HSBC Salvadore-o S.A. The outlook is stable. Under our new methodology, the bank's stand-alone credit profile (SACP) is 'bb'. Today's rating action is...
Companies mentioned in this report are: Banco HSBC Salvadoreno S.A.
Action: Affirmed
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.
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