Ratings On Nikko Group Companies Remain On CreditWatch Positive Jan 08

Standard & Poors, January 2008

Abstract
TOKYO (Standard & Poor's) Jan. 21, 2008--Standard & Poor's Ratings Services said today that its long-term ratings on the Nikko Cordial group of companies remain on CreditWatch with positive implications, where they were placed on Oct. 3, 2007. Standard & Poor's believes it is appropriate to reassess the ratings on the companies upon obtaining as much information as possible regarding the strategy of U.S.-based Citigroup Inc. (AA-/Negative/A-1+) in the Japanese market, and further details on the planned alliance between Citigroup and the Nikko group. Standard & Poor's placed the ratings on Nikko Cordial Corp., Nikko Cordial Securities Inc., and NikkoCiti Trust & Banking Corp. on CreditWatch on Oct. 3, 2007, to reflect increased support from Citigroup following the conclusion of...

Companies mentioned in this report are:
- Nikko Cordial Corp.
- Citigroup Inc.
- NCT Trust and Banking Corp.
- Citigroup Overseas Holdings Inc.

Action: CreditWatch Update

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.

- Nikko Cordial Corp.
- Citigroup Inc.
- NCT Trust and Banking Corp.
- Citigroup Overseas Holdings Inc.

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