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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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$ Z% b! m! L2 F% O. ~, pon 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.& G) n4 z$ N- M
% v( i0 y7 p* C* V2 }- ]& UThe 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 h; f+ |5 `! {! ]- g
% `/ z& L( I- I% A, C* `- U, {2 }"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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+ @2 Z" S" {4 ?* IThe 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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HSBC also benefits from the depth of its global retail deposit franchise, S&P said.% a0 I; I% w" d/ ]5 b2 x
$ l$ D. n4 o/ I9 A! sS&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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