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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.
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5 ]* P6 x1 N6 u4 oThe 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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& G- ] E1 _- \ M5 p3 }& e"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. ( ^$ w# I+ E( N( ?
. |0 P5 O: o& r j! n% OThe 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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0 P4 N5 b$ Y& L% F- K4 [HSBC also benefits from the depth of its global retail deposit franchise, S&P said.3 M+ H6 v: r* o/ F7 {* j+ y( P) z
: }' @/ N1 B W; Z4 C e; W; G' `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. " c. J) p" p6 Y# v# a0 J- n
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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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