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Fitch affirms and withdraws HSBC Finance ratings

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Fitch affirms and withdraws HSBC Finance ratings

Fitch Ratings affirmed and withdrew HSBC Finance Corp.'s long-term issuer default rating at A+ and short-term issuer default rating at F1.

The ratings for HSBC Finance are being withdrawn with a stable outlook.

Fitch is withdrawing the ratings for commercial reasons.

The rating agency said that as an indirect wholly owned subsidiary of HSBC Holdings PLC, HSBC Finance's issuer default ratings are linked to those of HSBC Holdings and the notching reflects Fitch's view of HSBC Holdings' propensity to support HSBC Finance should the need arise.

HSBC Finance's issuer default rating is notched one level below HSBC Holdings at A+, reflecting Fitch's view that HSBC Holdings would continue to provide support for reputational considerations, even though HSBC Finance's balance sheet is currently in the final stage of winding down.