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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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6 a9 ~* j/ K5 _* C9 Y* oon 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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/ `% R6 u" @3 a9 O: D& u# d4 ^ ~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.
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"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. ' j( J5 z! ]1 {' q; c
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The 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., F5 S% G" Q/ J' ^( @
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8 e/ U9 K2 j8 `; k! u( aHSBC also benefits from the depth of its global retail deposit franchise, S&P said.; u: \. s. H0 t/ A
/ z9 V) P9 B x/ G" |- zS&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.
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[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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