Fitch Assigns ABS Seller/Servicer Rtgs to HSBC Finance Corp.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has assigned HSBC Finance
HSBC Finance Corporation is a financial services company and a member of the HSBC Group. Corp. (HSBC Finance) an 'ABPS/S 2+' ABS seller/servicer rating for both private label cards and co-brand/affinity cards. HSBC Finance is a wholly-owned indirect subsidiary of HSBC HSBC Hongkong and Shanghai Banking Corporation HSBC Humane Society of Broward County (Florida) HSBC Humane Society of Bay County (Bay County, Michigan) North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. Holdings Inc. which is in turn a wholly-owned subsidiary of HSBC Holdings plc (NYSE NYSE See: New York Stock Exchange : HBC HBC a definition for medical records to denote 'hit by car'. ). The ratings for the origination and servicing of credit cards are based on a highly experienced management team and staff, a financially strong parent, HSBC (rated 'AA-' by Fitch), and comprehensive MIS and quality control programs. HSBC Finance (formerly called Household Finance Corporation) was initially incorporated in 1925. HSBC Bank Nevada, National Association, the issuer of credit cards for HSBC Finance, is the sixth largest general purpose card issuer and the third largest private label credit card issuer in the US. HSBC Finance's retail division, started in 1971, manages a national private label portfolio with the total receivables outstanding in excess of $18 billion as of March 31, 2005. HSBC Finance is the servicer for the three Fitch-rated ABS series currently outstanding under its Household Private Label Credit Card Master Note Trust I program. As of June 15, 2005, the total invested amount of the program is $1.9 billion. The card services division was started in 1981; the division manages outstanding receivables of $22 billion as of March 31, 2005. HSBC Finance is the servicer for the total of six Fitch-rated ABS series currently outstanding under its Household Credit Card Master Note Trust I program and Household Affinity Credit Card Master Note Trust I programs. The total invested amount of these series, as of June 15, 2005, is $2.8 billion and $2.3 billion, respectively. Fitch rates ABS seller/servicers on a scale of 1 to 5, with 1 (no '1+') being the highest rating. Within each of these rating levels, Fitch further differentiates ratings by plus (+) and minus (-) as well as the flat rating. For further information about Fitch ABS seller/servicer ratings, refer to the report titled 'ABS Seller/Servicer Rating: Credit Where Credit Is Due,' dated Sept. 14, 2004 and 'ABS Seller/Servicer Rating: Credit Card Addendum,' dated Dec. 4, 2004, both of which available on the Fitch Ratings web site www.fitchratings.com. Fitch's rating definitions are available on the agency's public web site, www.fitchratings.com. Published ratings, criteria and methodologies and relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from this site, at all times. This document will remain on the public site for seven days. |
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