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HSBC Hong Kong units' ratings on review for possible upgrade - Moody's


Published : Wed, 30 May 2007 08:47
By : Agencies
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HONG KONG (XFN-ASIA) - Moody's Investors Service placed the 'Aa3' long-term foreign currency deposit ratings of HSBC units Hongkong and Shanghai Banking Corp and Hang Seng Bank Ltd, on review for possible upgrade.

The move follows Moody's move earlier to place on review for possible upgrade Hong Kong's 'Aa3' ceiling for foreign currency deposits rating.

The rating agency also said that it has affirmed the 'A2' rating on ICBC (Asia), while revising its rating outlook to 'stable' from 'positive'.

It has also affirmed the 'Aa3' rating on Bank of China (Hong Kong) and revised its rating outlook to 'stable' from 'positive'.

roby.lau@xfn.com

rl/net

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