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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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7 y2 @& e2 C3 }( R7 hon 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.- r* f7 |; Q; i8 E7 D1 f0 U
) m; F7 _0 B8 Y# e) U; I) yThe 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.( R. z; b- l) X% ^# W
" n6 M6 R. n' M, v: l6 M"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. : d2 c. c4 D& o! G
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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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& X4 {% K' t5 | C' V2 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.
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! y. ]. [" F$ ?. z9 h p5 g[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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