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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 Y0 l* j6 f! W7 ~! z' u- {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.( l# z- d# v6 R, K1 M
' R4 q. ?4 |) u/ [% h4 }"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. & G5 B! r. x" c2 K+ s( m- N o
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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.- P7 X6 {& o$ T) T; L
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0 h$ p# x2 x. b' F" QHSBC also benefits from the depth of its global retail deposit franchise, S&P said.' m4 Y* o& z8 N: K m+ [& r2 p
/ }) H2 W8 u3 G$ [3 g, FS&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. a& a" w/ g1 Y! h+ V
' r, p! e( n! h1 }* N[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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