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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 4 E: D' A* z) J: W: f* y+ S
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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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7 l. g1 @+ |& h7 z" g8 TThe 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.+ Q6 o4 t" Y( | m
7 r" C' Z) P5 T6 v/ h9 m. j' O7 X"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.
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& q" q/ l3 Z4 F9 V5 uHSBC also benefits from the depth of its global retail deposit franchise, S&P said.9 K3 d1 o$ A) s6 O% S
- P, P* z- ^7 F! K8 ]0 ?. ?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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- y( [6 e5 u: \6 _ f[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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