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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.0 m2 u& L8 J0 X. \8 |
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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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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.5 d5 b5 ?6 U6 w* H1 q2 Q$ k
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/ A5 T. Y6 q( a( T$ {* ~3 U6 e/ eHSBC also benefits from the depth of its global retail deposit franchise, S&P said.! R: Y1 v2 b1 s
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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. 4 T1 K4 M: A' O5 v! y# b3 T& |
* N* v# ^1 L, \1 @2 r7 l3 r# P[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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