HSBC Borhis Earn S&P Rating

The first residential mortgage-backed securities (RMBS) to be issued by HSBC Mexico have been assigned a national scale rating of MXAAA/MXA by Standard & Poor’s. According to the ratings agency, the issue is the largest such in the region to date. The two series of RMBS, or Borhis to use their Mexican acronym, total $225 million (2.5 billion pesos) and carry a maturity date of November 22, 2022.