Macquarie Group Limited: Update following rating action - Moody's Global Credit Research

Macquarie Group Limited: Update following rating action

Macquarie Group Limited: Update following rating action - Moody's Global Credit Research
Macquarie Group Limited: Update following rating action
Published Apr 26, 2024
10 pages (5143 words) — Published Apr 26, 2024
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Brief Excerpt:

...Macquarie Group Limited's (MGL) A1 senior unsecured and long-term issuer ratings are two- notches above Macquarie Bank Limited's (MBL) a3 Baseline Credit Assessment, reflecting our Advanced Loss Given Failure (LGF) analysis, with the holding company's senior ratings benefitting from loss absorption of more junior securities. MGL's strong overall credit profile is characterised by very strong profitability resulting from its highly diversified business mix, very strong capital adequacy and a conservative liquidity profile. The strength of the group's capital and liquidity provides a counterbalance to the group's trading and investment banking activities which can raise non-lending asset risks. Moody's also maintains ratings for the group's banking subsidiary, Macquarie Bank Limited (MBL, Aa2 stable, a3), and MBL's non-extended licenced entities, Macquarie International Finance Limited (MIFL, A2 stable) and the group's non-banking businesses Macquarie Financial Holdings Pty Limited (A2 stable)....

  
Report Type:

Credit Opinion

Company:
Issuer
Macquarie Group Limited
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Macquarie Group Limited: Update following rating action - Credit Opinion – 2023/07/31 – US$ 250.00 – ...The long-term rating of Macquarie Group Limited (MGL, A2 stable) reflects its strong overall credit profile, characterised by very strong profitability resulting from its highly diversified business mix, very strong capital adequacy and a conservative liquidity profile. The strength of the group's capital and liquidity provides a counterbalance to the group's trading and investment banking activities which can raise non-lending asset risks. The rating also includes two notches of uplift to reflect our view that depositors and senior bondholders would benefit from systemic support, if needed. Moody's also maintains ratings for the group's banking subsidiary, Macquarie Bank Limited (MBL, A1/A1 stable, a3), and MBL's non-extended licenced entities, Macquarie International Finance Limited (MIFL, A2 stable) and the group's non-banking businesses Macquarie Financial Holdings Pty Limited (A2 stable). In particular we note: + MGL maintains a solid balance sheet position, with high levels of capital...

Macquarie Group Limited: Key facts and statistics - FYE March 2022 - Issuer Profile – 2022/08/03 – US$ 200.00 – ...Macquarie Group Limited (MGL) is the non-operating holding company of the Macquarie Group that provides asset management, finance, banking, advisory, risk and capital solutions across 33 markets worldwide. As of 31 March 2022, the group reported consolidated assets of AUD399.2 billion ($300.0 billion). MGL was formed in 2007 when Macquarie Bank Limited (MBL, established as Hill Samuel Australia Limited in 1969, renamed MBL in 1985 and listed in 1996) was re-organised under a holding company structure. Since 2007, MGL's shares have been listed on the Australian Securities Exchange (Ticker: MQG). As of 31 March 2022, its largest registered holder was HSBC Custody Nominees (Australia) Limited, which held 27.3% of its total ordinary shares....

Macquarie Group Limited: Update following rating affirmation, outlook changed to positive - Credit Opinion – 2022/03/07 – US$ 250.00 – ...+ A diversified business profile, constrained by exposure to non-lending risks. + Conservative risk management is key to MGL's credit profile. + Capital levels remain supportive; future positioning is a key credit consideration. + Strong liquidity profile....

Macquarie Group Limited: Key Facts and Statistics - FYE March 2021 - Issuer Profile – 2021/09/28 – US$ 200.00 – ...Macquarie Group Limited (MGL) is the non-operating holding company of the Macquarie Group. It provides asset management, finance, banking, advisory, risk and capital solutions across 32 countries as a global financial services provider. As of 31 March 2021, the group reported consolidated assets of AUD245.7 billion ($187.2 billion). MGL was formed in 2007 when Macquarie Bank Limited (MBL, established as Hill Samuel Australia Limited in 1969, renamed MBL in 1985, and listed in 1996) was re-organised under a holding company structure. MGL's shares have been listed on the Australian Securities Exchange since 2007. (Ticker: MQG). As of 31 March 2021, its largest registered shareholder was HSBC Custody Nominees (Australia) Limited, which holds, on behalf of beneficial owners, 27.2% of its total share capital....

Macquarie Group Limited: Update to credit analysis - Credit Opinion – 2021/08/11 – US$ 250.00 – ...+ A diversified business profile, constrained by exposure to non-lending risks. + Conservative risk management is key to MGL's credit profile. + Capital levels remain supportive; future positioning is a key credit consideration. + Strong liquidity profile....

More from Moody's Global Credit Research

Moody's Global Credit Research—Moody's Investors Service, a leading global credit rating, research and risk analysis firm, publishes credit opinions, research, and ratings on fixed-income securities, issuers of securities and other credit obligations. Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Ratings also create efficiencies in fixed-income markets and similar obligations, such as insurance and derivatives, by providing reliable, credible, and independent assessments of credit risk. For issuers, Moody's services increase market liquidity and may reduce transaction costs.

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Cite this Report

  
MLA:
Moody's Global Credit Research. "Macquarie Group Limited: Update following rating action" Apr 26, 2024. Alacra Store. May 06, 2024. <http://www.alacrastore.com/moodys-credit-research/Macquarie-Group-Limited-Update-following-rating-action-PBC_1390665>
  
APA:
Moody's Global Credit Research. (). Macquarie Group Limited: Update following rating action Apr 26, 2024. New York, NY: Alacra Store. Retrieved May 06, 2024 from <http://www.alacrastore.com/moodys-credit-research/Macquarie-Group-Limited-Update-following-rating-action-PBC_1390665>
  
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