Correction: Moody's downgrades HSBC unit on RMBS problems

Thursday, November 24, 2011

In the story titled "Moody's downgrades HSBC unit on RMBS problems," published November 18, BNamericas incorrectly reported that Moody's had downgraded HSBC Mexico's global scale local currency rating to Baa3 from Baa1 (Mex) and national scale rating to Aa3(Mex) from Aaa(Mex).

In fact, the ratings downgrade corresponded to HSBCCB 07-3 debt certificates, and not to HSBC Mexico itself.

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