latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/fitch-revises-hsbc-bank-canada-s-ratings-outlook-on-coronavirus-related-risks-57968609 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Fitch revises HSBC Bank Canada's ratings outlook on coronavirus-related risks

Key Credit Risk Factors When Assessing Banks In The Context Of COVID-19

Street Talk Episode 61 - Investors debate if U.S. banks have enough capital in post COVID world

You Down With PPP? Consider The Risks

Street Talk Episode 60 - You Down With PPP? Consider The Risks


Fitch revises HSBC Bank Canada's ratings outlook on coronavirus-related risks

Fitch Ratings revised HSBC Bank Canada's ratings outlook to negative from stable, following the recent outlook change on the company's ultimate parent, HSBC Holdings PLC.

The rating agency noted that HSBC Bank Canada's long- and short-term issuer default ratings are linked to those of HSBC.

Additionally, Fitch affirmed HSBC Bank Canada's viability rating at "a+" and revised the outlooks for operating environment, asset quality and earnings and profitability to negative from stable. The agency cited the disruption caused by the coronavirus outbreak both in Canada and globally in changing the outlook. This follows the recent outlook revision on seven Canadian banks on coronavirus-related risks.

Fitch believes that higher unemployment, alongside a softer housing market, lower business volumes and weaker capital markets revenues could pressure earnings of Canadian banks, including HSBC Bank Canada, and increase credit losses.

READ MORE: Sign up for our weekly coronavirus newsletter here, and read our latest coverage on the crisis here.