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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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) @% P% F; v7 O" A: o5 ]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.% t5 I8 a; Y0 u+ q: L
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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.: j9 d) C. e! }) ]
# m% }3 a6 l2 r0 x0 D! \: i& Y"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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6 D4 a3 z! H# q1 f4 `$ d6 Z3 b% V, DThe 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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* x- t6 X9 J( g; e: [$ x/ n( D+ fHSBC also benefits from the depth of its global retail deposit franchise, S&P said.
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; \: k$ Y4 s0 J6 ^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. 7 Y# d! j, a) a' [' D& [
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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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