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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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! C [- B8 z2 n) m5 W. M$ Don 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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+ X1 R4 R! f! j' g: H. H) U* qThe 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.
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4 l9 e; a, I7 c9 }8 V. Y9 X! HThe 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.8 p) a- ~! R% L, x) U9 R
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( i& T3 i V- m1 @7 YHSBC also benefits from the depth of its global retail deposit franchise, S&P said.0 M6 N4 A9 s3 J1 D$ Q% u
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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. ; D4 W# m, Z# Z2 Y: M% W$ W
+ {0 b9 I: Y& c9 d C( d) s[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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