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AllianceBernstein L.P. Jun 10
Standard & Poors, June 2010
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...
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: Full Analysis
AllianceBernstein L.P.,AXA Equitable Life Insurance Company,MONY Life Insurance Co.,AXA Versicherungen AG,National Mutual Life Association of Australasia Ltd. (The),AXA France IARD,AXA France Vie,AXA,AXA Insurance U.K. PLC,AXA Life and Annuity Company,MONY Life Insurance Co. of America,U.S. Financial Life Insurance Co. (Unsolicited Ratings),AXA Insurance Co.,AXA Financial Inc.,AXA Versicherung AG,AXA Art Insurance Ltd. (Unsolicited Ratings),AXA Belgium,AXA Insurance Ltd.,AXA Assurances IARD Mutuelle (Unsolicited Ratings),AXA Seguros Generales (Unsolicited Ratings),National Mutual Life Assoc. of Australasia Ltd. (The) (NZ),AXA Corporate Solutions Assurance,AXA Aurora Iberica SA (Unsolicited Ratings),AXA Lebensversicherung AG,Deutsche Aerzteversicherung AG,AXA Life Insurance Co. Ltd.,DBV Deutsche Beamtenversicherung Lebensversicherung AG,DBV Deutsche Beamten-Versicherung AG,AXA Krankenversicherung AG,Friends Life Company Ltd,Avanssur (Unsolicited Ratings),AXA Bank Europe S.A.