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Bulletin: The Goldman Sachs Group Inc. Rating Unaffected By Very Strong Third-Quarter Earnings
Standard & Poors, Oct 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) Oct. 15, 2009--Standard & Poor's Ratings Services said today that The Goldman Sachs Group Inc.'s (GS; A/Negative/A-1, holding company) just-announced very strong third-quarter earnings do not affect the rating. GS's $5.1 billion adjusted pretax earnings were roughly level with its robust second-quarter results. Investment banking, fixed-income trading, and equities trading revenues subsided somewhat from the record levels of the second quarter, and there was weakness (partly seasonal) in GS's securities services business. However, earnings were significantly less affected by real estate-related losses, GS benefited from sizable gains on certain principal investments, and asset management results continued to improve. Performance in recent quarters underscores GS's preeminent competitive position in trading, but also its dependence on this...
Companies mentioned in this report are: Goldman Sachs Group Inc. (The)
Action: Bulletin
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