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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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$ X$ A* H; c0 Eon 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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' J ]2 E& C' G0 Z% ^2 U( vThe 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. 1 G4 Y( h p' P6 e- F
: G- i. H6 i# q% UThe 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./ {5 J9 p% S$ @9 f. j
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HSBC also benefits from the depth of its global retail deposit franchise, S&P said.$ j* f4 Y+ C O7 `/ B
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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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6 i; i; e l. e4 Y+ o1 S[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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