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Bulletin: Ratings On Nomura Group Firms Unaffected By Monoline Provision-Related Losses Apr 08
Standard & Poors, April 2008
Abstract
TOKYO (Standard & Poor's) April 25, 2008--Standard & Poor's Ratings Services said today that its ratings on the Nomura Group companies would not be affected by today's announcement that the group recorded a -153.9 billion loss for the fourth quarter of fiscal 2007 (ended March 31, 2008), as well as a -67.8 billion loss for the full fiscal year. The losses were mainly attributed to a decline in the market value of Nomura's securities portfolio and an increase in loan-loss provisions amid a deterioration in the credit quality of monoline insurers. Standard & Poor's is not considering lowering the relevant ratings or revising the relevant outlooks downward upon today's announcement, given that the volatility of revenues at brokerages is relatively...
Companies mentioned in this report are: Nomura Holdings Inc.,Nomura Securities Co. Ltd.,Nomura Bank International PLC,Nomura Trust & Banking Co. Ltd.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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