OREANDA-NEWS. S&P Global Ratings affirmed its 'BB/B' global scale issuer credit ratings on HSBC Bank Brasil S. A. In addition, we withdrew the ratings at issuer's request. At the time of the withdrawal, the outlook was negative.

On Aug. 3, 2015, HSBC Holdings PLC (A/Negative/A-1) announced the sale of its Brazilian subsidiary to Banco Bradesco S. A. (BB/Negative/B) for $5.2 billion. We viewed HSBC Bank Brasil as a core entity of Bradesco, therefore, we equalized its ratings to those of its controlling shareholder.