Macquarie Group (ASX:MQG) announces S&P ratings upgrade

Company News

by Anna Napoli

S&P Global Ratings have upgraded the long-term issuer credit ratings for Macquarie Group (ASX:MQG), Macquarie Bank  (ASX:MBL)  and other Macquarie entities.

S&P says the ratings upgrade reflects the view “the group and bank’s risk management capabilities have strengthened over time”.

Following the upgrades, S&P ratings of Macquarie Bank Limited is A+ long term (from A) / A-1 short term (affirmed) and Macquarie Group is BBB+ long term (from BBB) / A-2 short term (affirmed).

The Outlook for the long-term rating for Macquarie Bank and Macquarie Group is Stable.

S&P does not assign an outlook on short term ratings. Prior to yesterdays upgrade, Macquarie Bank Limited’s long-term rating had been unchanged for 28 years.

Shares in Macquarie Group (ASX:MQG) closed 0.09 per cent higher to $135.50 yesterday.