Outlooks On Nomura Group Companies Revised To Negative On Continuing Unfavorable Performance Oct 08

Standard & Poors, October 2008

Abstract
TOKYO (Standard & Poor's) Oct. 28, 2008-Standard & Poor's Ratings Services today revised to negative from stable the outlooks on its 'A-' long-term counterparty credit rating on Nomura Holdings Inc. and its 'A' long-term counterparty credit ratings on Nomura Securities Co. Ltd., Nomura Trust & Banking Co. Ltd., and Nomura Bank International PLC. The outlook revisions reflect concerns over the protracted slump in the operating performance of the group. This comes against the backdrop of continued losses stemming from trading asset deterioration and a stagnant earnings environment for investment banking operations and retail businesses as a result of global financial turmoil. At the same time, Standard & Poor's affirmed its long-term ratings on the four rated Nomura group companies, as...

Companies mentioned in this report are: Nomura Holdings Inc.,Nomura International PLC,Nomura Securities Co. Ltd.,Nomura Bank International PLC,Nomura Europe Finance N.V.,Nomura Trust & Banking Co. Ltd.,Nomura Global Funding plc
Action: Affirmed
Action: Outlook: Negative

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.

Nomura Holdings Inc.,Nomura International PLC,Nomura Securities Co. Ltd.,Nomura Bank International PLC,Nomura Europe Finance N.V.,Nomura Trust & Banking Co. Ltd.,Nomura Global Funding plc

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