...May 8, 2020 SYDNEY (S&P Global Ratings) May 8, 2020--Macquarie Group Ltd. (MGL; ###+/Stable/A-2) is well positioned to absorb a drop in business volumes and increase in credit and market risk impairments that could emerge due to the COVID-19 outbreak, S&P Global Ratings said today, after the Australia-based financial conglomerate posted solid operating results for the year ended March 31, 2020. We consider that the MGL group's financial and business profiles remain supportive of our current ratings on the group. In our view, MGL's earnings should continue to benefit from a well-diversified business position across different asset classes and geographies, and a niche market position in specialized commercial banking and investment banking in Australia and global infrastructure asset management. MGL has demonstrated a high degree of strength and stability in its earnings over a number of years compared with a number of financial institutions operating in similar business lines. We expect...
