...November 5, 2020 SYDNEY (S&P Global Ratings) Nov. 6, 2020--Australia-based Macquarie Group Ltd. (MGL; ###+/Stable/A-2) is well positioned to absorb an increase in credit and market risk impairments and a drop in business volumes as a result of COVID-19, S&P Global Ratings said today following the release of the diversified financial group's half-year results. We consider that the MGL group's financial and business profiles remain supportive of our current ratings on the group. In our view, the consolidated group's capital surplus of A$9.4 billion in September 2020 will provide a substantial buffer for extended COVID-19 volatility and may also allow capacity for business growth where opportunities arise. This is also supported by MGL's underlying profitability, after increased credit provisioning charges, asset impairments, and a dividend payment of 50% for the half year. MGL's profit attributable to ordinary shareholders for the first half of fiscal 2021 was down 23% from the second half...
