Fitch puts Capital Nomura on watch

Fitch Ratings said it affirmed Capital Nomura Securities PCL’s AA(tha) rating and placed it on rating watch negative.

Capital Nomura’s rating is based on parent Nomura Holdings Inc.’s viability rating, not its issuer default rating, Fitch said.

“This is because NHI's IDR is driven by support considerations from the Japanese sovereign (A/stable) based on its systemically important status in Japan, and Fitch believes that such support may not necessarily flow through to non-core overseas subsidiaries. The CNS' national long-term rating has been placed on RWN reflecting the RWN on NHI's VR,” Fitch said in a press release.

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