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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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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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+ k. A# m: A9 D O3 gThe 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.( Q- _) ~7 R, B
3 o$ J9 f7 [. W+ D i0 `) Y"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. , R! {, A/ E9 c7 I
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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.8 M" ^4 j0 A% r/ T
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, H# \/ A. [( X) \5 x! QHSBC also benefits from the depth of its global retail deposit franchise, S&P said.+ M# [; d1 r0 j7 V3 z
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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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7 x9 P: R7 {! ?/ w! C7 K6 k[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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