26th Mar 2021 17:54
(Alliance News) - Moody's Investors Service on Friday assigned a provisional (P)Aaa long-term rating to the mortgage covered bonds to be issued by HSBC UK Bank PLC, a part of HSBC Holdings PLC.
The ratings agency noted that covered bonds benefit from the bank's promise to pay interest and principal.
The rating therefore reflects the credit strength of HSBC UK Bank, the legal framework, and the stressed level of market risk, which is 11% for this cover pool.
HSBC shares closed 0.3% higher in London on Friday at 422.70 pence each.
By Evelina Grecenko; [email protected]
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