| Abstract: | Standard&Poor's Ratings Services' ratings on the Goldman Sachs Group Inc. (GS) and related entities reflect a combination of extraordinary external support from the U.S. government for highly systemically important financial institutions and the company's own credit characteristics. Specifically, the long-term counterparty credit rating reflects a two-notch uplift from GS' stand-alone credit profile, taking account of GS' high systemic importance and the likelihood that additional support would be extended if, contrary to our current expectations, this were needed. GS' credit profile benefits from the company's leading market positions in securities trading, investment banking, merchant banking, institutional asset management, and prime brokerage. Within securities-related businesses, revenue streams are well diversified by business line, product, and geography. In its investment banking
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