DBRS confirms Goldman Sachs

DBRS said it has confirmed the ratings for Goldman Sachs Group, Inc., including its issuer & senior debt rating of A (high) and short-term rating of R-1 (middle), following net earnings of $3.4 billion in Q2 2009.

This follows net earnings in the prior quarter of $1.8 billion and a Q4 2008 net loss of $2.1 billion, the agency said, adding that the trend on all ratings remains negative, except for the short-term Instruments rating and debt guaranteed by FDIC, which have a stable trend.

The ratings confirmation reflects the demonstrated strength of Goldman's franchise, its earnings resiliency and its consistent risk management processes that are evident in the Q2 2009 results, DBRS added.

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