Research Update: Ratings On Macquarie Group And Bank Raised On

Rationale The strengthening in the credit profile of Macquarie group and the bank reflects our view that the group's risk management capabilities have improved in the context of a wide and complex range of credit and noncredit risk exposures across various businesses and geographies. [...] In our assessment of the Macquarie group's risk management capabilities we take into account: - The Macquarie group and MBL's performance and risk management outcomes pre and post the global financial crisis. [...] We view the risk management capability of the Macquarie group as commensurate with the unique, complex nature and the broad range of the group's business activities. [...] Outlook Our outlook on MGL is stable reflecting the group's well-diversified business across different asset classes and geographies, stable and repeatable income sources from the group's asset management and banking activities, which strengthens the business profile, a strongly capitalized bank that represents the majority of the group's exposures, and strong risk management capabilities to manag. [...] S&P Parties are not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, for the results obtained from the use of the Content, or for the security or maintenance of any data input by the user.