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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 3 L' a; q1 O$ n, O8 N- C( A
0 p. \6 c! W% y% N% F8 _: C5 Oon 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.& n* u- C* N) m. v) Z1 o
6 k$ `$ y$ c+ iThe 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 R1 w5 k3 }9 a: }/ \
6 M, a4 {. m, }! P$ R"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. 7 N) W( K( G8 z: X' `# n- f9 y
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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.
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HSBC also benefits from the depth of its global retail deposit franchise, S&P said.) c; ?6 Z5 Q) Y. D' I% h
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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.
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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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