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S&P Credit Research876 word report
published Oct 15, 2009
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S&P Credit Research
| Abstract: | NEW YORK (Standard&Poor's) Oct. 15, 2009--Standard&Poor's Ratings Services said today that The Goldman Sachs Group Inc.'s (GS; A/Negative/A-1, holding company) just-announced very strong third-quarter earnings do not affect the rating. GS's $5.1 billion adjusted pretax earnings were roughly level with its robust second-quarter results. Investment banking, fixed-income trading, and equities trading revenues subsided somewhat from the record levels of the second quarter, and there was weakness (partly seasonal) in GS's securities services business. However, earnings were significantly less affected by real estate-related losses, GS benefited from sizable gains on certain principal investments, and asset management results continued to improve. Performance in recent quarters underscores GS's preeminent competitive position in trading, but also its dependence on this
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| Brief Excerpt: | RESEARCH Ratings Definitions Bulletin: The Goldman Sachs Group Inc. Rating Unaffected By Very Strong Third-Quarter Earnings Publication date: 15-Oct-2009 Primary Credit Analyst: Scott Sprinzen, New York (1) 212-438-7812; scott_sprinzen@standardandpoors....
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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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