Moody's ups Hong Kong banks

Moody's Investors Service said it upgraded long-term foreign-currency deposit ratings to Aa2 from Aa3 for several Hong Kong financial institutions.

These actions follow Moody's earlier upgrade of Hong Kong's long-term foreign-currency deposits rating ceiling to Aa2 from Aa3, and its long-term foreign-currency and local-currency government bond ratings also to Aa2 from Aa3.

The ratings affected include:

Hongkong and Shanghai Banking Corp. Ltd.'s senior unsecured (foreign) Aa1, senior unsecured medium-term notes (foreign) Aa1; long-term bank deposits (foreign) Aa2 (upgraded from Aa3), long-term deposit note/CD program (domestic) Aa1, long-term bank deposits (domestic) Aa1, long-term issuer rating Aa1, bank financial strength B+, subordinate medium-term notes (foreign) Aa2, commercial paper (foreign) prime-1, short-term bank deposits (foreign) prime-1, short-term bank deposits (domestic) prime-1, other short-term (foreign) prime-1;

Hang Seng Bank Ltd.'s long-term bank deposits (foreign) Aa2 (upgraded from Aa3), long-term deposit note/CD program (domestic) Aa1, long-term bank deposits (domestic) Aa1, bank financial strength B+, subordinate (foreign) Aa2, subordinate (domestic) Aa2, short-term bank deposits (foreign) prime-1, short-term bank deposits (domestic) prime-1;

Hong Kong Mortgage Corp. Ltd.'s senior unsecured (domestic) Aaa, senior unsecured medium-term notes (foreign) Aaa (upgraded from Aa1), senior unsecured medium-term notes (domestic) Aaa, long-term issuer rating (foreign) Aa1 (positive outlook remains unchanged), long-term issuer rating (domestic) Aaa, other short-term (foreign) prime-1, other short-term (domestic) prime-1, short-term issuer rating prime-1, short-term issuer rating (domestic) prime-1;

Bank of Tokyo-Mitsubishi UFJ HK branch's long-term deposit note program (foreign) Aa2 (upgraded from Aa3);

Mitsubishi UFJ Securities (HK) Capital, Ltd.'s long-term deposit note program (foreign) Aa2 (upgraded from Aa3).

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.