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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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& n8 R9 x. n4 eon 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.9 M1 t' I) i I( n% U3 l
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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.$ `# s7 D6 O& o6 i: i
5 [. y I- c5 `# Q"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.
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% `5 V ?& b# A0 o0 zThe 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.% B9 s) L% p, D- \1 q
) |# H$ t4 ]) E$ n. i/ @- vS&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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4 V$ w7 U4 ^1 N5 I7 x[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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