Moody's lowers Nomura view to negative

Moody's Investors Service said it affirmed the Baa1 long-term issuer and senior unsecured debt ratings of Nomura Holdings, Inc., along with the Baa1 backed senior unsecured debt ratings of Nomura America Finance, LLC and the A3 issuer ratings of Nomura Securities Co., Ltd.

Moody's also said it changed the outlook to negative from stable.

Moody's then said it withdrew the outlooks on long-term issuer rating and long-term debt ratings for business reasons.

The ratings incorporate a three-notch uplift from the group's Baa3 standalone assessment, reflecting the very high likelihood of government support for the company in times of stress, the agency said.

Nomura is the largest capital markets company in Japan, Moody's explained.

The company has adequate liquidity and funding profiles, weak – but stable – profit backed by a strong domestic franchise and a moderate risk appetite, the agency said.

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