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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 + g) `3 u- ]7 {$ f" A
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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.: r. H$ C: W' R$ Q
[. Q$ T( I7 F" lThe 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." e% z1 J( g; @; @" }0 R1 _$ X
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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.
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2 k8 r7 h9 j, H. }0 T, {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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1 J- E( j: F! e7 G1 w9 |HSBC also benefits from the depth of its global retail deposit franchise, S&P said.9 d2 u# A& t: ~1 O
. C, i& p3 x( S) x) b9 n, l4 dS&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. ( y! l8 Y; O" E. d1 B* v
' G% ~2 n9 `7 R% r3 I2 K2 T[ Last edited by 新經濟學巨人 on 2006-12-21 at 07:20 PM ] |
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