AllianceBernstein L.P. Jun 10
Standard & Poors, June 2010
Abstract
Strong global franchise, underpinned by diversification in distribution Sound cash flow generation, contributing to solid liquidity Absence of long-term debt leverage Profitability dynamics are largely influenced by relative equity bias; and Weak, though stabilizing, investment performance Continued net outflows due to weak investment performance in 2007 and 2008 Standard & Poor's Ratings Services' ratings on AllianceBernstein L.P. reflect the company's strong global franchise, geographic diversity, and multiple distribution channels. This has helped the firm to generate sound cash flow from operations. In our opinion, AllianceBernstein has the breadth and depth in its global platform to withstand the current difficult operating conditions without substantial detriment to its financial profile. However, with approximately 50% of the company's assets under management (AUM) in...
Action: Review
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Research Type: Full Analysis
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