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Alliance Capital Management L.P. May 02
Standard & Poors, May 2002
Abstract
The ratings on Alliance Capital Management L.P. are based on the company's strong market position afforded by its full breath of product offerings distributed through multiple client channels, including retail, institutional, and high net worth. Alliance's operating performance has benefited from good growth in assets under management during recent years. With the growth in assets under management, revenues and cash flow have continued their upward trend, even with more volatile securities markets. The growth in assets under management during the past three years is attributed to a combination of net sales, market appreciation, joint ventures, and acquisitions. Although recent market volatility has caused some market depreciation in Alliance's assets under management, net inflows into mutual funds and institutional and private-client...
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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