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Article: Goldman Sachs Ratings Affirmed by Fitch IBCA Following IPO - Fitch IBCA -.
- Article from:
- PR Newswire
- Article date:
- May 4, 1999
CopyrightCOPYRIGHT 1999 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, May 4 /PRNewswire/ -- Fitch IBCA affirms the ratings of The Goldman Sachs Group, Inc. (Goldman Sachs), the successor firm (as of May 7, 1999) to The Goldman Sachs Group, L.P., and its subsidiaries following the firm's conversion to public ownership through an initial public offering (IPO). The affirmed ratings are listed below.
Approximately 15% of Goldman Sachs' common equity was offered to public shareholders under the IPO, with the balance held by former partners of the firm, employees, and two institutional investors (Sumitomo Capital Markets, Inc. and Kamehameha Activities Association). While the structural change will present challenges to the ...