Published On: April 24th, 2024Categories:

 In this investment case we take a closer look at Macquarie (Group and Bank), for which we assign an Outperform rating. Macquarie Group Ltd. and Macquarie Bank Ltd. hold very solid balance sheets, with strong capitalization and liquidity ratios, which provide substantial capital buffer and flexibility. We are therefore comfortable with Macquarie’s credit metrics and like its bonds (both senior and subordinated), which offer an attractive discount compared to Australian (more traditional) peers.

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