TOKYO (Standard & Poor's) March 13, 2007--Standard & Poor's Ratings Services today placed its ratings on Nikko Cordial companies on CreditWatch with positive implications, following the Tokyo stock exchange's (TSE) decision not to delist Nikko Cordial Corp. shares. Following the announcement by the TSE, the 'BBB-/A-3' counterparty and 'BBB-' senior unsecured debt ratings on Nikko Cordial Corp., 'BBB/A-2' counterparty credit ratings on Nikko Cordial Securities Inc., and the 'A' long-term counterparty credit rating on NikkoCiti Trust & Banking Corp. were all placed on CreditWatch with positive implications. The 'A-1' short-term rating on NikkoCiti Trust was affirmed. The ratings on the three companies were first placed on CreditWatch with negative implications on Dec. 26, 2006, following the resignations of Nikko Cordial...
Companies mentioned in this report are:
- Nikko Cordial Corp.
- Citigroup Inc.
- NCT Trust and Banking Corp.
- Citigroup Overseas Holdings Inc.
Action: On CreditWatch:Positive
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. SHOW LESS READ MORE >