HSBC Bank Brasil S.A. - Banco Multiplo -- Moody's reviews down HSBC Brasil's Aaa.br deposit rating

New York, December 16, 2015 -- Moody's Investors Service has today placed on review for downgrade HSBC Bank Brasil S.A. -- Banco Múltiplo's (HSBC Brasil) long-term Brazilian national scale deposit rating (NSR) of Aaa.br. The review follows the announcement of the review for downgrade on Banco Bradesco S.A's (Bradesco) baa3 Baseline Credit Assessment (BCA) on 10 December 2015 given HSBC Holding Plc's plans to sell HSBC Brasil to Bradesco. Bradesco's review for downgrade was driven by the announcement on 9 December of a review for downgrade on Brazil's government bond rating of Baa3. HSBC Brasil's global scale deposit and debt ratings, which have been under review for downgrade since 5 August 2015 as a result of the planned sale, remain under review. The bank's short-term Brazilian national scale deposit rating of BR-1 was not affected by this rating action.

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