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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 E$ u( h& ~; ]& u8 }0 c2 |
/ Q9 |7 @4 X4 I* \9 @- g' fon 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.
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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. * _ |. Z/ B1 d5 f) n. M3 d
( _ x) p8 c0 i: o6 H AThe 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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2 I. Z& B: D! D, g: ^& ~$ THSBC also benefits from the depth of its global retail deposit franchise, S&P said.; Y g Z9 ? Q& j1 V( V; X# Z1 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. ! Z. M+ X4 ]/ @% n: U, N& A- J& F( Q
2 ~* H& N8 u2 k8 m. V' l" \[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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