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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 . q! r8 T% O( O7 n0 ]4 `! T
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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.+ @( y/ k+ ~6 {6 s9 J7 E( S! |
" I3 I6 b; u4 B+ m9 {7 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.6 ?/ H$ O. G' E# f' B/ u
% e% N# j/ l9 [* v6 ?3 I4 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. ) o, X7 _8 f+ q y. I8 n4 p G
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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.7 z1 E2 H& _ L
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HSBC also benefits from the depth of its global retail deposit franchise, S&P said.7 X& C: T7 K7 B$ i; G9 d0 Q( H
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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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9 a# @9 }. L; C. h0 n1 k[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |

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