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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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0 v. o) m5 U6 z6 I- Z; j' [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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3 d8 _0 d# c! l* c8 x; n& V4 J# cThe 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.3 \& R1 b$ d8 g$ t1 d
3 ?5 | `" B4 x9 y- {! z/ U0 b"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.
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HSBC also benefits from the depth of its global retail deposit franchise, S&P said.
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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.
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* J# ^8 |9 G5 Z[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |
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