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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 6 d) \, O0 I9 _8 x
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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.
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& s p7 r* O9 K0 B7 C2 r7 X6 A# 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. e) ]0 e0 j, v/ p
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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.& r" K! R" i u- [
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2 V& u9 D2 Z1 I2 r y' T0 A& Y0 fHSBC also benefits from the depth of its global retail deposit franchise, S&P said.
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' T) M( _+ V- k& n# G6 u; kS&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. 2 {8 y" V! f2 L; O( Y& A+ x& [0 v
, j7 |% X% m) |! @, W, G[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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