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Alliance Capital Management L.P. Jan 06
Standard & Poors, Jan 2006
Abstract
Sound franchise, with strong growth potential as the company increases focus on nondomestic growth markets and services; Improved profitability, reflecting the company's ability to withstand adverse effects on its operating performance; and Sound liquidity and debt-servicing ability. Relative concentration in equity assets, which renders earnings vulnerable to equity market downturns; and Highly competitive operating environment, which is exacerbated by market volatility and increased regulatory scrutiny. The ratings on Alliance Capital Management L.P. (Alliance Capital) reflect its sound market position and franchise, which is characterized by a wide range of services offered through multiple distribution channels. The company's ongoing expansion into non-U.S. markets and products that exhibit strong potential for growth is expected to further strengthen the franchise. The ratings are...
Action: Review
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
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