HSBC Borhis Get Moody’s Rating

The first residential mortgage-backed securities (RMBS) to be issued by HSBC Mexico have been assigned a national scale rating of Aaa.mx (Class A certificates) and a global scale, local currency rating of Baa1 by ratings agency Moody’s Investors Service. The rating follows that by Standard & Poor’s, which last week assigned its national scale rating of MXAAA/MX to the two series of notes. According to S&P, 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.