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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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7 o( x/ o9 J3 Y6 }9 CThe 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.& O! T9 O" N+ U8 o+ n5 ^6 y
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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. ; B( S4 L& O* E3 |5 a0 Z/ j
$ E+ F" A! o! ?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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HSBC also benefits from the depth of its global retail deposit franchise, S&P said.
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3 a; S# }- s; k" E+ FS&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. 8 P6 x: q7 K, U
$ c5 }& T* w/ T4 ]6 X; i( f+ \[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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