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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 & P& H9 E; {8 j( h+ m0 p" H
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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., \' \+ z3 R/ Q5 q5 Y8 C
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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.& i2 k5 F% z9 C, n
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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. 1 l- P! ]. C u4 e
& B1 Z |4 m! y7 l6 uThe 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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( _' H& e% t' s2 |" JHSBC also benefits from the depth of its global retail deposit franchise, S&P said.' L% m/ @; t' W5 S( `4 L- V, y6 `
E" ]3 v: }0 B D: x9 h7 \. g2 O- cS&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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* b$ S+ Z; @2 q; D[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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