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Bulletin: The Goldman Sachs Group's Ratings Unaffected By Third Quarter's Improved Results
Standard & Poors, Oct 2010
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. 19, 2010--Standard & Poor's Ratings Services said today that The Goldman Sachs Group Inc.'s (A/Negative/A-1, holding company) just-announced third-quarter earnings, which were relatively good and consistent with our expectations and industry trends, do not immediately affect the rating. Driving Goldman's reported pretax income of $3 billion ($1.3 billion last quarter), adjusted by our calculations, were better Investment Banking (up 22% sequentially) and Equity Trading (up 349% sequentially) results, but held back by still slow FICC; down 14% sequentially) results. While industrywide trends affected FICC, Equity trading rebounded to more normal levels. Asset management, a small but stable contributor, was marginally better (revenues up 5%) and Security Services was marginally weaker, with continued lower leverage...
Companies mentioned in this report are: Goldman Sachs Group Inc. (The)
Action: Bulletin
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