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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 ( T# o: D7 {/ ?& Y& {5 ^$ e( l& t& W
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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./ T( U+ C6 P, 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.
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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. 9 E) S- @ v+ w- {5 P; L
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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.3 x/ k( ]6 _8 C q/ p
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HSBC also benefits from the depth of its global retail deposit franchise, S&P said.3 h& ?+ z0 X" 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. 7 ?; }( D M4 l4 E! @1 x) |
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[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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