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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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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.2 A! m% E9 S- Y
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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.
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* b6 Z5 ], O# o' F9 E: @5 q0 D"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. % m9 Q! B( `( C3 L$ U4 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.( }! I. N6 @6 }, L2 E3 s. [1 q
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! B- n7 d6 T4 V7 fHSBC 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. 4 ^+ p6 T/ |4 O
2 I1 g: X1 F- _4 J* m; K6 O[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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