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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 B5 }0 A3 i& R: _3 v: W
' \' o! r& n5 P: b8 VThe 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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) W6 e) Z7 c/ `, S8 q$ X/ s" a0 }"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. % B. T j0 m+ ^' X
9 t: \7 ]5 G3 ]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./ S7 {" q8 \& R: g. ^
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HSBC also benefits from the depth of its global retail deposit franchise, S&P said.# F% u1 M* A! {' G
- I) k3 y I/ _& O7 i" p% DS&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. - y2 B" `; Y+ \2 _0 {0 V6 s! P
" E8 `' M% u" O3 @* G9 X[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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