{"id":17153,"date":"2011-11-29T23:50:54","date_gmt":"2011-11-30T03:50:54","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=17153"},"modified":"2011-11-29T23:50:54","modified_gmt":"2011-11-30T03:50:54","slug":"hsb-preferreds-downgraded-to-a-by-s-no-effect-on-local-scale","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=17153","title":{"rendered":"HSB Preferreds Downgraded to A- by S&amp;P; No Change on Local Scale"},"content":{"rendered":"<p>Standard and Poor&#8217;s <a href=\"http:\/\/www.standardandpoors.com\/prot\/ratings\/articles\/en\/us\/?articleType=HTML&#038;assetID=1245324882104\">has announced<\/a>:<\/p>\n<blockquote>\n<ul>\n<li>Following a review under Standard &#038; Poor&#8217;s revised bank criteria (published on Nov. 9, 2011), we have lowered our long- and short-term ratings on U.K.-based HSBC Holdings PLC (HSBC or &#8220;the group&#8221;) to &#8216;A+\/A-1&#8217;  from &#8216;AA-\/A-1+&#8217; and the long-term ratings on the group&#8217;s core operating subsidiaries to &#8216;AA-&#8216; from &#8216;AA&#8217;.\n<li>Other rating actions on debt issues and subsidiaries are listed below.\n<li>The group&#8217;s &#8216;a+&#8217; stand-alone credit profile reflects our view of its very strong business position, adequate capital and earnings, strong risk position, average funding, and adequate liquidity.\n<li>The ratings also reflect its high systemic importance in the U.K.\n<li>The stable outlook on the group reflects our view that the group&#8217;s strengths should enable it to withstand any softening in global economic conditions or setbacks in the rundown of its U.S. consumer finance portfolio.<\/ul>\n<\/blockquote>\n<p>They specifically noted that the P-1(low) rating on the local scale for the preferred stock was affirmed.<\/p>\n<p>HSB has three preferred share issues outstanding: HSB.PR.C and HSB.PR.D (Straight Perpetual) and HSB.PR.E (FixedReset).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Standard and Poor&#8217;s has announced: Following a review under Standard &#038; Poor&#8217;s revised bank criteria (published on Nov. 9, 2011), we have lowered our long- and short-term ratings on U.K.-based HSBC Holdings PLC (HSBC or &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-17153","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/17153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17153"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/17153\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}