Moody’s Investors Service on Monday revised the outlook on HSBC Holdings’ Aa2 long-term senior debt rating to negative from stable and cut HSBC Bank’s bank financial strength rating to C+ from B. The bank’s debt and deposit ratings were also downgraded to Aa2 from Aa1. The change in outlook to negative on HSBC Holdings’ long-term debt rating reflects increasing pressures on the profitability and capital of the group as the credit crunch develops into a global phenomenon, Moody’s said.
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