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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 5 U& m' Q& _7 M. O2 {
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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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) F# C) c b' m$ T/ S0 EThe 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.5 K% h9 D2 P. O$ D6 ~9 ~
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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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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.3 d: h. Z$ X5 Z; B& A( |8 B3 i
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HSBC also benefits from the depth of its global retail deposit franchise, S&P said. m6 ~7 ~- S( g; u7 x" v( b G
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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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