Credit ratings

   
Moody's
Standard & Poor's
Fitch
DBRS
    Rating Outlook Rating Outlook Rating Outlook  Rating
Europe
HSBC Holdings plc Long Term/Senior Aa2 Ratings under review A+ Stable AA Negative AA (high)
Short Term P-1   A-1   F1+   R-1 (high)
HSBC Bank plc Long Term/Senior Aa2 Ratings under review AA- Stable AA Negative not rated
Short Term P-1   A-1+   F1+   not rated
HSBC France Long Term/Senior Aa3 Ratings under review AA- Stable AA Negative not rated
Short Term P-1   A-1+   F1+   not rated
Asia (Hong Kong)
The Hongkong
and Shanghai
Banking Corporation Ltd
HK$ issues
Long Term/Senior Aa1 Ratings under review AA- Stable not rated not rated
Short Term P-1   A-1+   not rated   not rated
Non-HK$ issues
Long Term/Senior Aa1 Ratings under review AA- Stable AA Negative not rated
Short Term P-1   A-1+   F1+   not rated
USA
HSBC USA Inc. Long Term/Senior A1 Ratings under review A+ Stable AA Negative AA
Short Term P-1   A-1   F1+   R-1 (high)
HSBC Bank USA NA Long Term/Senior Aa3 Ratings under review AA- Stable AA Negative AA
Short Term P-1   A-1+   F1+   R-1 (high)
HSBC Finance Corporation Long Term/Senior A3 Ratings under review A Negative AA- Negative A
Short Term P-1   A-1   F1+   R-1 (low)
Middle East
HSBC Bank Middle East Ltd Long Term/Senior A1 Ratings under review not rated not rated AA- Negative not rated
Short Term P-1   not rated not rated F1+   not rated

Last rating change: 1 March 2012