trending Market Intelligence /marketintelligence/en/news-insights/trending/w6V8lfnDyYmczkq6QnsLPw2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

S&P acts on Turkey-based HSBC Bank

Blog

Banking Essentials Newsletter, January edition - part 2

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts


S&P acts on Turkey-based HSBC Bank

Standard & Poor's Ratings Services on April 8 loweredits long-term Turkey national scale rating on to "trAA-" from"trAA".

The agency, at the same time, affirmed the "trA-1"short-term Turkey national scale and BB/B counterparty credit ratings of thebank.

The outlook on the long-term counterparty credit rating wasrevised to negative from developing.

The ratings actions follow 's recent that it would retainand restructure its Turkish subsidiary.

The negative outlook indicates a one-in-three chance that theagency could lower the long-term counterparty rating of the unit over the next12 months. This reflects S&P's negative view of the operating environmentfor banks in Turkey and its implications for HSBC. It also reflects the bank'sweak operational performance and resulting pressure on its business andearnings stability, which S&P expects will continue in 2016.

S&P Ratings andGlobal Market Intelligence are owned by McGraw Hill Financial Inc.