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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 ' i% P+ l' l: R+ @
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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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( V/ U$ Z' F1 Q. Z( q6 iThe 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.6 }5 C1 I* a2 Q5 Z
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"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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) \+ j5 o- \1 v* F8 s" v }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.. L2 ]7 g% y) O" U: _0 _/ e
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HSBC also benefits from the depth of its global retail deposit franchise, S&P said.8 A$ i& |9 ?, s2 @0 R: ?3 n
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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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[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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