Fitch Ratings has put Macquarie Group on ratings watch negative and will review its long-term issuer default rating and its viability rating.In a statement issued yesterday, Fitch said the action was prompted "in part by challenges facing financial institutions globally, in particular those that are more exposed to market oriented income."The statement said: "Fitch notes that this action is not tied to any specific earnings or capital information, as this broad review has been going on for some time."Fitch currently rates Macquarie Group at A for long-term issuer default, F1 for short-term issuer default and "a" for viability.On Tuesday, Macquarie reported that its profit for the year to March would be down about 25 per cent on its 2010/11 result. Fitch said: "Macquarie's focus is on facilitating client transactions rather than transacting on its own account, which reduces the group's exposure to market risk."Nevertheless, three of Macquarie's six divisions are market-oriented, which adds volatility to its earnings."Fitch said it would also look at what impact the subdued environment for market-oriented businesses may have on investor sentiment towards Macquarie.It will look at the extent of Macquarie's reliance on wholesale funding. It said: "Other aspects of Macquarie's financial profile, such as asset quality, capital and exposure to market risk continue to compare favourably with larger global trading and universal banks."