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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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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.& u8 I& s. a! s8 C, ?. Z
" Q2 x3 u/ H$ A"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. 5 ]9 d% W0 A! o4 N' ^
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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.0 I5 o4 O9 @# J5 a; I( l5 A9 I: I" l
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' ^- o5 E6 s+ i2 THSBC also benefits from the depth of its global retail deposit franchise, S&P said.0 ^2 i U) ^) H; Q' b, d
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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. 7 @* ]: |) o3 A, |' U
3 t. v7 j$ X9 U! G$ R. @) n[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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