S&P raises Macquarie Group

S&P said it upgraded the long-term issuer credit rating on Macquarie Group Ltd. and Macquarie Financial Holdings Pty Ltd. to BBB+ from BBB and on Macquarie Bank Ltd. to A+ from A. The agency also raised the long-term issuer credit rating on MBL’s hybrid debt instruments by one notch reflecting the improvement in the bank’s stand-alone credit quality.

In addition, S&P raised Macquarie International Finance Ltd.’s long-term issuer rating to A from A-.

“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,” said S&P in a press release.

The outlook is stable.

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