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Bulletin: The Goldman Sachs Group Inc. Fourth-Quarter Earnings Do Not Affect Ratings
Standard & Poors, Jan 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
NEW YORK (Standard & Poor's) Jan. 19, 2011--Standard & Poor's Ratings Services said today that The Goldman Sachs Group Inc.'s (A/Negative/A-1, holding company) just-announced fourth-quarter earnings do not immediately affect our ratings. Analysis this quarter includes new reporting standards, which we view as positive due to somewhat greater disclosure. The addition of a new reporting segment--Investing and Lending--will, in our opinion, offer more insight into Goldman's principal and currently permitted proprietary activities. Goldman's reported pretax income of $3.5 billion in the fourth quarter was sequentially better than the $2.8 billion last quarter but lower than $7.4 billion last year. Investment Banking's revenues increased 30% sequentially but dropped 10.3% year over year. Sequential improvements were due to better advisory and equity...
Companies mentioned in this report are: Goldman Sachs Group Inc. (The)
Action: Bulletin
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