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Fitch removes rating on HSBC Chile from negative watch

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Fitch removes rating on HSBC Chile from negative watch

Fitch Ratings on Dec. 23 revised the outlook on HSBC Bank (Chile)'s AAA(cl) long-term national-scale rating to stable and removed it from Rating Watch Negative.

The removal from Rating Watch Negative reflects a reduced risk of a no-deal Brexit on parent company HSBC Holdings PLC.

HSBC Bank Chile's ratings reflect the potential support it can get from its parent company. The probability that HSBC Chile gets extraordinary support from the British parent remains high due to the Chilean unit's strategic role in HSBC's operations despite its small size.