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發表於 2006-12-21 07:19 PM
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NEW YORK, Dec 20 (Reuters) - Standard & Poor's
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on Wednesday changed its outlook on HSBC Holdings Plc (HSBA.L: Quote, Profile , Research) to positive from stable, citing continuing benefits from the company's earnings diversification and global reach.
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& ~! ^0 K/ r( P# b! O1 X% g$ r7 w' }The new outlook reflects "the extraordinary diversification of the business profile, which provides a substantial earnings cushion to offset the volatility of individual business lines and geographies," S&P said in a statement.$ I1 `& X- e4 ~' M9 ~7 A
% L/ S: m: F0 V. m4 Y+ x! c4 T"The earnings mix means that HSBC is managing to produce high-quality group earnings even when individual markets suffer setbacks or hit difficult conditions," S&P said. - H: M5 e y& |& u& G2 }
n$ ?+ e4 y. g0 B+ @8 q9 S' FThe outlook change also reflects HSBC's unique blend of potentially high-growth emerging market activities with a range of more mature businesses, and a strong enterprise risk management framework, "which is remarkably integrated for such a global group," S&P said.
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HSBC also benefits from the depth of its global retail deposit franchise, S&P said.
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S&P rates HSBC's long term debt "AA-minus," its fourth highest ranking. A positive outlook indicates the ratings are likely to be raised over the next two years. ( r# x$ U, r1 g
, h8 z" L' P/ S+ e) M1 y, b4 S[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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