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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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# f6 [- Z0 |/ v/ }8 F0 \4 Y8 ton 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.( q8 e/ r5 z2 [
3 j9 E5 n( s3 V nThe 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.
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& N }. k, ]. Q! O \0 N- u. ]5 w"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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$ d0 \ Q1 \- y- k* `HSBC also benefits from the depth of its global retail deposit franchise, S&P said. p5 F' R0 ]" `
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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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! Y0 u! n+ I7 O% K" E[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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