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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 # r2 m& O# P! j [! w; s
^ o' k/ r* h# i( R5 con 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.% ~$ _) E. S. d$ M7 v8 k
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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.
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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. " s5 P& d: L1 J+ b6 Z3 P
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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 V# a& W1 e
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# R& C. V: E* O2 h" [; W- oHSBC also benefits from the depth of its global retail deposit franchise, S&P said.3 k6 c/ h( O: t$ \7 a/ D
/ r8 _( d# Z7 L( K7 i q* sS&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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$ o( p" }! U. d6 L1 D7 z; `1 k[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |
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