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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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2 S( j7 ?" }7 Yon 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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/ R4 v- }" L% h0 n% t8 aThe 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 J3 P4 G. z+ U8 [; S* c' E
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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, I, k) ~2 v/ q
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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.9 w- B+ c& ? @% B6 W
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HSBC also benefits from the depth of its global retail deposit franchise, S&P said.
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( b1 r* Y. Q* F" L) E' pS&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. - M6 g1 N% Y) r1 G+ j) w9 }
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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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