Report title: Bulletin: Ratings On Nomura Group Companies Unaffected By Planned Lehman Brothers Acquisition
from S&P Credit Research
516 word report published Sep 24, 2008

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Abstract: TOKYO (Standard&Poor's) Sept. 24, 2008--Standard&Poor's Ratings Services said today that its ratings on Nomura Holdings Inc. (A-/Stable/A-2) and its group companies would remain unchanged following Nomura's announcement that it will acquire Lehman Brothers Holdings Inc.'s (D/--/D) equities and investment banking operations in Asia, Europe, and the Middle East. Standard&Poor's takes the view that the transaction would not affect the ratings on Nomura and its group companies given the limited investment amount, as well as the fact that Nomura will not take on Lehman's trading assets or liabilities. Nomura plans to take over the employees and related business infrastructure of Lehman's equities and investment banking divisions, but not its trading assets or liabilities. Since the

Brief Excerpt: RESEARCH Ratings Definitions Bulletin: Ratings On Nomura Group Companies Unaffected By Planned Lehman Brothers Acquisition Publication date: 24-Sep-2008 Primary Credit Analyst: Yuri Yoshida, Tokyo (81) 3-4550-8581; yuri_yoshida@standardandpoors.com...

Report Type: News
Ticker: 8604@JP
Issuer: Nomura Holdings Inc.
GICS: Investment Banking & Brokerage (40203020)
Sector: Collateralized Debt Obligations, Financial Institutions, Global Issuers, Structured Finance
Country: Japan
Region: United States
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