Sydney, 17 February 2010
Macquarie Group Limited (ASX: MQG, ADR: MQBKY) today noted that Standard and Poor's (S&P) has revised its outlooks for the Macquarie group of companies to Stable from Negative.
S&P also affirmed its ratings of the Macquarie group of companies: 'A' long-term and 'A-1' short-term issuer credit ratings on Macquarie Bank Limited, 'A-' long-term and 'A-2' short-term issuer credit ratings on Macquarie Group Limited, Macquarie Financial Holdings Limited and Macquarie International Finance Limited and 'A' long-term issue credit rating on Macquarie Life Limited.
Macquarie Chief Financial Officer Greg Ward welcomed the ratings affirmation and revised outlooks which S&P noted reflected the Group's ability to maintain supportive capital and a satisfactory earnings profile, as well as manage funding and liquidity challenges, notwithstanding continued - albeit reduced - uncertainty in the environment in which the Group operates.
In addition to this, S&P noted the following:
Macquarie Group is regulated by the Australian Prudential Regulation Authority (APRA) as a holding company of an Australian bank.