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Bulletin: Ratings On Macquarie Group Ltd. And Subsidiaries Unchanged Following Fiscal 2011 Results
Standard & Poors, May 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
MELBOURNE (Standard & Poor's) May 2, 2011--Standard & Poor's Rating Services said today that its ratings on Macquarie Group Ltd. (Macquarie Group; A-/Stable/A-2), and its subsidiaries, including its key operating subsidiary Macquarie Bank Ltd. (MBL; A/Stable/A-1) are unchanged following the company's year to March 31, 2011 results, which were in line with Standard & Poor's expectations. 'While Macquarie Group's fiscal year 2011 profitability was below fiscal 2010, the result was within Standard & Poor's expectations and causes us no concerns at the current rating level,' Standard & Poor's credit analyst Gavin Gunning said. 'Further, the quality of earnings was good, being materially less affected by asset impairments, equity-accounted gains and losses, and one-off profit or loss items that featured in...
Companies mentioned in this report are: Macquarie Group Ltd.,Macquarie Bank Ltd.
Action: Bulletin
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