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Bulletin: The Goldman Sachs Group Inc. Rating Unaffected By Strong Second-Quarter Earnings
Standard & Poors, July 2009
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
NEW YORK (Standard & Poor's) July 14, 2009--Standard & Poor's Ratings Services said today that its rating on The Goldman Sachs Group Inc. (GS; A/Negative/A-1, holding company) is not affected by the company's just-announced very strong second-quarter earnings. GS's adjusted pretax earnings of $4.3 billion were the strongest since fourth-quarter 2007, and up 39% compared to the already-strong first-quarter 2009. As in first-quarter 2009, GS benefited from a highly favorable trading environment. However, the strength was less concentrated in fixed income, currencies, and commodities than previously. Equities trading and underwriting also produced record revenues. The second-quarter performance points up GS's preeminent competitive position in trading, but also its dependence on this business line: Trading and principal investments accounted for 78%...
Companies mentioned in this report are: Goldman Sachs Group Inc. (The)
Action: Bulletin
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