|Chennai||Rs. 25020.00 (0.81%)|
|Mumbai||Rs. 25890.00 (0.98%)|
|Delhi||Rs. 25200.00 (-0.2%)|
|Kolkata||Rs. 25480.00 (1.03%)|
|Kerala||Rs. 24800.00 (0.61%)|
|Bangalore||Rs. 25000.00 (0.81%)|
|Hyderabad||Rs. 25080.00 (1.09%)|
Fitch Ratings has cut its debt rating on HSBC Holdings PLC, saying the risks attached to its expansion into higher-risk markets such as China is no longer sufficiently mitigated.
The credit ratings agency lowered HSBC's long-term issuer default rating to AA- from AA, but revised up its outlook on Europe's biggest bank from negative to stable.
Fitch added that HSBC's increasing costs of managing its diverse operations — from legal fees to compliance and governance expenses — will outweigh any previous benefits from the group's business and geographic diversification.
Last month, HSBC said it has set aside a further $1.15 billion to cover potential U.S. fines for failing to stop money-laundering in its Mexican unit and to compensate U.K. customers for mis-selling payment protection insurance.