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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 ; h7 ? d) c. d: I) Y- u; ]7 {
: H @% x# W aon 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.5 ^1 e: [" S( K6 K% k# K; x
% r! t) |4 `. l: E7 ]+ g"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. + c" Z. e, g7 X9 E3 T5 w1 I t
1 b" M6 m* I0 e! c* W* m6 [3 kThe 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 r( D: E! a7 p2 m7 ~
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HSBC also benefits from the depth of its global retail deposit franchise, S&P said.5 I0 J7 f+ F- o8 J1 T% [
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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. / T* r- U& ?! p% L
) r3 t+ `; L: \[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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