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HSBC (HBC) is downgraded to AA- from AA by Fitch, which says the bank's diversity across...

HSBC (HBC) is downgraded to AA- from AA by Fitch, which says the bank's diversity across businesses and geography may no longer be a strength, and has instead been "neutralized" by the increasing cost of managing the whole operation.
Comments (2)
  • The ratings firms become increasingly absurd in their appraisals. Yes, it would be far better to have one's entire business concentrated in a single country or continent, say, Spain or Europe, or, perhaps, in a single business sector, like subprime home loans.
    7 Dec 2012, 12:28 PM Reply Like
  • I too think the ratings firms are being extreme. While certainly not perfect, HSBC is, in my opinion, one of the stronger global banks.
    7 Dec 2012, 01:35 PM Reply Like
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