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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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1 J2 m" m( I q0 J' p: lon 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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6 U: m, h7 t" e/ G2 \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.7 }% ]/ y2 k: ?- E5 C4 F3 P
" Q/ M/ u; `. i- p7 v0 n5 S1 v"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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" ] V; M/ F7 BThe 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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( E% _- r0 o' R- ?, W9 ?HSBC also benefits from the depth of its global retail deposit franchise, S&P said.
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8 n6 [4 J% P" Q9 Y2 z PS&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. , C3 n8 s6 h ^
U3 _$ e! j1 k; c[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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