HSBC Bank (China) assigned BFSR of 'D' , deposit ratings 'A2' - Moody's.

(From AFX UK (Focus))

BEIJING (XFN-ASIA) - Moody's Investors Service has assigned a bank financial strength rating (BFSR) of "D" to HSBC Bank (China) Company Limited (HSBC China).

It added it has also assigned the bank local and foreign currency deposit ratings of "A2" (long-term) and "Prime-1" (short-term)

The outlook for the long-term deposit ratings is positive and for the BFSR, stable.

The long-term deposit ratings incorporate strong implicit support from parent HSBC HK, Moody's said.

However, they are also constrained by China's A2 sovereign country ceilings, it said.

At the same time the positive outlook for HSBC China's deposit ratings reflects the positive outlook for China's sovereign ceilings, Moody's said.