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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 % e: q9 ^$ O) G1 B# ^# o5 \+ I+ x
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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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# p9 q# _ V/ a0 Z8 A$ |3 [# qThe 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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0 y: ?5 R: T( ~6 ]* ?+ t- l3 C# Z"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. + X. g6 a6 [- r
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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.9 r1 |# P" f, [. a! p
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HSBC also benefits from the depth of its global retail deposit franchise, S&P said.$ x1 M- O8 m( L+ C9 h2 g- n
. Q! ]' A! I+ T& ]4 LS&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. ) v9 r. r6 ]: o8 v, q F; t5 d( r
; M4 j9 [$ B* z5 v' V& t4 g[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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