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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 9 M' y h) r! s" `& K, D% 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.8 E: P/ t7 ]" T
/ \) G9 b+ E# i5 LThe 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.! d9 S1 X, F5 `( Q0 s, c8 Y) k
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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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j( L7 T' _9 q w) z" dThe 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.+ K. O* W; h3 }0 X, L" y' C
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3 [, {& u& O* K( sHSBC also benefits from the depth of its global retail deposit franchise, S&P said.
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" d- s- d1 c/ mS&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. ; X1 u! Z1 F7 K, \: C6 j% J
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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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