...Strengths: Weaknesses: + Well diversified businesses across different asset classes and geographies. + Stable and repeatable income strengthens business profile. + Strong risk-management capabilities to manage risk exposures. + Group balance sheet strength provides a substantial buffer and flexibility. + Capital market-facing businesses exposed to volatile markets and products. + More complex credit, market, and operational risk exposure than of local and international peers. Outlook Our stable outlook on Macquarie Group Ltd. (MGL), the non-operating holding company of the Macquarie group, reflects the group's well-diversified businesses across different asset classes and geographies; stable and repeatable income from asset management and banking activities; balance sheet strength that provides a substantial buffer against COVID-19 volatility and flexibility should opportunities arise; and strong risk-management capabilities to manage the group's more complex credit, market, and operational...
