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Bulletin: Ratings On Macquarie Entities Unchanged Following Operational Briefing Feb 12
Standard & Poors, Feb 2012
Abstract
MELBOURNE (Standard & Poor's) Feb. 9, 2012--Standard & Poor's Ratings Services said today that its 'BBB/A-2' ratings on Macquarie Group Ltd. (Macquarie) and 'A/A-1' ratings on Macquarie Bank Ltd. (MBL) were unchanged following Macquarie's operational briefing to analysts and investors on Feb. 7, 2012. Our outlook for both entities remains stable. In its operational briefing Macquarie: Flagged its expectations that 2012 profitability would be 25% lower than in 2011; Outlined a potential buyback of up to 10% of its ordinary shares in fiscal 2013; and Provided an operational update of and outlook for its major business units. Despite expectations for lower profitability for fiscal 2012 and the potential for a capital buyback, our opinion is that Macquarie's capitalization and earnings...
Companies mentioned in this report are: Macquarie Group Ltd.,Macquarie Bank Ltd.
Action: Bulletin
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.
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