In the context of Scope Ratings’ strategy of focussing on the needs of institutional investors, Scope will offer its unsolicited bank and covered bond credit ratings on a subscription basis only via its credit intelligence platform.

Scope also affirmed all other existing ratings on various HSBC group entities. All ratings have a Stable Outlook.

Scope Ratings has updated its rating report on HSBC Holdings plc’s AT1 securities.

The Additional Tier 1 market reaches a landmark in 2018 as the earliest issues hit their first call dates. The investor base has grown, and terms and structures have standardised. But what lessons should be learned from developments in this market?

The clue to HSBC’s new strategic priorities lies in the theme: Return to Growth and Value Creation. The update was steady rather than radical, which is positive for credit investors.

Scope Ratings has updated its rating report on HSBC Holdings plc, rated AA with Stable Outlook.

The handbook includes an assessment of how risks in the AT1 market are evolving. Recent developments concerning Banco Popular and Bremer Landesbank demonstrate the importance of issuer fundamentals when evaluating the likelihood of incurring losses.

Scope Ratings has updated its rating report on HSBC Holdings plc’s AT1 securities.

Scope Ratings has updated its rating report on HSBC, rated AA with Stable Outlook.

Aggregate amount of Tier 2 securities rated is equivalent to nearly EUR 40bn; all rated securities were issued publicly in 2015-2016 by banks already rated by Scope and qualify as Tier 2 capital under CRD IV-CRR.