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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.& R8 v. [* \' E/ I9 g7 \2 W! v
, }; ^* u5 y& f# D; _# _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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"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. ; M B1 k& e: e
: ? Y( i, C2 a% v7 a$ B- |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.' ? ]+ m' h( Q( d+ R
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' j4 [* z; S, f; ^, b' L6 WHSBC also benefits from the depth of its global retail deposit franchise, S&P said.
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) t6 j" T1 W4 `6 ?, T4 N' U4 v; e1 lS&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. # v3 |- b* P, S% l2 O4 ]+ P
& F/ |" Q7 N! y; ^) ?+ F2 y[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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