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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.
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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.( y+ v$ o9 q- L% `, G
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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.
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; Z" a) @7 s+ W* ]: {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.& g' K7 J! m' ?6 S/ I- o9 o* E5 i
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HSBC also benefits from the depth of its global retail deposit franchise, S&P said.
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2 u5 Q5 L1 n$ mS&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. $ F: p; g5 q2 J5 \% \
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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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