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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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. A2 F& W/ S9 {1 jon 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. y/ ]2 M: Y3 P3 z7 E
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The 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.# D! k, Q2 c' ?" e
: Z \; P5 k$ a4 z( @1 g"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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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.$ H3 T: M% z" f% G! a
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$ H8 q/ a% z5 E' W, v8 h5 AHSBC also benefits from the depth of its global retail deposit franchise, S&P said.( `! y. S! s T' k, i8 ~
- i$ S5 p8 j2 E, o& x8 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.
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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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