Standard and Poor's recently changed HSBC's rating to:

HSBC's rating being changed to "Negative" by Standard and Poor's indicates a downgrade in HSBC's creditworthiness. This change suggests that there may be concerns about HSBC's financial stability and ability to meet its financial obligations in the future. It could be due to factors such as declining profitability, increased risk exposure, or other negative developments in the bank's operations. This change in rating may impact HSBC's borrowing costs and investor confidence in the bank.