Press Release

Macquarie Group ratings confirmed

Sydney, 16 November 2007

Following the implementation of the Macquarie Group restructure, the rating agencies have released definitive ratings for entities within the restructured Macquarie Group. These are unchanged from the previously advised provisional ratings.

Following the restructure, the two primary external funding vehicles are Macquarie Group Limited and Macquarie Bank Limited.

Macquarie Bank will be rated A1/Positive/P-1 by Moody's Investors Service, A/Stable/A-1 by Standard & Poor's and A+ /Stable/F-1 by Fitch Ratings.

Moody's noted that the Bank's positive outlook reflected the improvement in the bank's funding profile as a result of the restructuring, as well as the anticipated decrease in its exposure to some large credit concentrations.

Macquarie Group Limited will be rated A2/Stable/P-1 by Moody's Investors Service, A-/Stable/A-2 by Standard & Poor's and A/Stable/F-1 by Fitch Ratings

As previously advised, there will be no increase in the net debt of the Macquarie Group as a result of the restructure.

All existing borrowings in the name of Macquarie Bank Limited will be unaffected by the proposed restructure and will continue to remain outstanding in the name of Macquarie Bank Limited.

 

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