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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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! e q/ y5 [) I ]# S( uon 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.; v8 Z: X- {' K# Q2 L: w- A. h
' V! `- h- F9 F' m M+ SThe 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." O; [' N. \1 l3 ]
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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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# Q0 B! @; ~. a }' K' FThe 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.4 ], I& i; n" e2 t$ N
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\$ [7 @2 [# j% aHSBC also benefits from the depth of its global retail deposit franchise, S&P said.* Z* j- A0 s7 I: J) Q$ X9 Q: Y* y
( O9 w' X$ U0 d( ^$ c& JS&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. 8 J2 T3 d" a; @: L
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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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