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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 : ]: \# ~; B$ J& i
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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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9 k( a; ]' c: j, 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. X8 s+ J$ C* Y9 K' @
) [* t, E C; 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.
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( Y7 p2 ]7 |+ \2 f! m" A8 `8 S+ |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., P+ d1 _( m0 @+ t1 y
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HSBC also benefits from the depth of its global retail deposit franchise, S&P said.
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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. ; c! L) ?" a" ?" w y$ B) M
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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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