|
|
 |
|
Viewing report
|
|
|
|
Bulletin: Ratings On Nikko Cordial Group Unaffected By Revisions To Financial Statements Dec 06
Standard & Poors, Dec 2006
Abstract
TOKYO (Standard & Poor's) Dec. 18, 2006--Standard & Poor's Ratings Services said today that its ratings on Nikko Cordial Group companies, Nikko Cordial Corp. (BBB+/Stable/A-2) and Nikko Cordial Securities Inc. (BBB+/Stable/A-2), remain unaffected by the announcement by the group that it will revise its financial statements for fiscal 2004 (ended March 31, 2005) and the first half of fiscal 2005. Nikko Cordial Group announced that it will consolidate Nikko Principal Investment Holdings (NPIH), which engages in private equity investment. As a result, the group has deemed it inappropriate to record unrealized gains on bonds issued by NPIH as these are recognized as internal transactions within the group. Nikko Cordial Group revised its net income to -35.1 billion from -46.9 billion...
Companies mentioned in this report are: Nikko Cordial Corp.,Citigroup Overseas Holdings Inc.
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.
|
|
|
|
