Moody’s Investors Service has upgraded the senior unsecured debt ratings for Goldman Sachs Group Inc. to Aa3 from A1 after a three-month review. In a press statement accompanying the rating action on Friday, Moody’s described Goldman as having “excellent and defendable franchises in mergers and acquisitions, primary and secondary equities, and prime brokerage.”
The agency also upgraded the Goldman debt ratings, including the long-term issuer ratings, to Aa3 from A1. Moody’s also upgraded the backed senior unsecured debt of Goldman’s Spear Leeds & Kellogg trading unit, to Aa3 from A1.