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S&P Credit Research474 word report
published Jul 14, 2009
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S&P Credit Research
| Abstract: | NEW YORK (Standard&Poor's) July 14, 2009--Standard&Poor's Ratings Services said today that its rating on The Goldman Sachs Group Inc. (GS; A/Negative/A-1, holding company) is not affected by the company's just-announced very strong second-quarter earnings. GS's adjusted pretax earnings of $4.3 billion were the strongest since fourth-quarter 2007, and up 39% compared to the already-strong first-quarter 2009. As in first-quarter 2009, GS benefited from a highly favorable trading environment. However, the strength was less concentrated in fixed income, currencies, and commodities than previously. Equities trading and underwriting also produced record revenues. The second-quarter performance points up GS's preeminent competitive position in trading, but also its dependence on this business line: Trading and principal investments accounted for 78%
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| Brief Excerpt: | RESEARCH Ratings Definitions Bulletin: The Goldman Sachs Group Inc. Rating Unaffected By Strong Second-Quarter Earnings Publication date: 14-Jul-2009 Primary Credit Analyst: Scott Sprinzen, New York (1) 212-438-7812; scott_sprinzen@standardandpoors.com...
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| Report Type: | Bulletin
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| Ticker: | GS
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| Issuer: | Goldman Sachs Group Inc. (The)
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| GICS: | Investment Banking & Brokerage (40203020)
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| Sector: | Global Issuers, Public Finance, Structured Finance
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| Country: | United States
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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