S&P affirmed Macquarie Bank's A longer-term and A-1 short-term issuer credit ratings.
Macquarie Group had its long-term rating changed to BBB from A-, but S&P said the outlook remained stable. Its short-term issuer credit rating remained unchanged at A-2.
"The affirmation of Macquarie Bank's rating is an excellent outcome. Macquarie Bank is our main operating entity and funds the vast majority of our businesses. The S&P decision to keep the rating unchanged, despite challenging market conditions, validates our strong capital, funding and liquidity position," Macquarie chief financial officer Greg Ward said.
Ward said Macquarie Bank was one of the few global financial institutions to retain its ratings throughout the volatile market conditions experienced since 2008.
