Halister News

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.

• To get this story sent to your inbox real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery

UPGRADES

• ECL Finance
  • Long-term bank facilities raised to AA from AA- at Crisil; NCDs also upgraded to AA from AA-
  • LT bank facilities of Edelweiss Housing and Edelweiss Commodities also raised to AA from AA- at Crisil
  • Cites increase in proportion of retail, SME lending within the group’s credit book

• RA Chem Pharma
  • LT bank facilities raised to BBB from BBB- at Care
  • Cites growth in total operating income, profitability and cash accruals

(Bloomberg) -- Yields on Treasury bonds rise across the curve, with 10-year yield up 2bps at 2.56%.

• Topix of Japanese shares set for first advance in four days, gaining 0.2%; U.S. markets reopen after a three-day weekend, while London remains shut
• Markets appear to remain in a risk-on environment though there are few investors, says Kenta Inoue, a Tokyo-based senior foreign-bond strategist at Mitsubishi UFJ Morgan Stanley Securities
  • U.S. bond market has completely priced in optimism for Trump’s policies pushing up near-term economic growth
  • Expects doubt to grow, driving 10-year yields to 2.10% by March 31
• NOTE: Should his forecast turn out to be correct, an investor who buys 10-year notes today would gain 4.7%, according to Bloomberg data

Economic Release Details: {JNCPIXFF Index ECOD} --JUNKO HAYASHI

Economic Release Details: {ISBRANN Index ECOD} --MICHAEL ARNOLD

(Bloomberg) -- Absence of news, partially due to a temporary recess in Congress and Top Court, brings political relief, is enough to bolster BRL in near term amid a scenario of wide gap between local and external rates, Olavo Souza, FI trader at Mirae Corretora says in a phone interview.

• BRL fluctuating with no solid trend this Monday vs USD reflects low liquidity with holidays in global major financial centers such as New York, London
• Relief brought by absence of news is likely to end in early 2017, with Brazil political life returning and U.S. President-elect Trump preparing for his inauguration
  • Such risks may prevent BCB from speeding up further the pace of rate cuts to 75bps in January and February; rather, it’s more likely to cut Selic by 50bps

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.

• To get this story sent to your inbox real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery

UPGRADES

• GRG Cotspin
  • Long-term bank facilities raised to BBB+ from BBB at Care
  • Cites early completion of project

• Kredence Multi Trading
  • Non-fund based limits raised to A4 from D at Icra
  • Cites regularization of debt service obligations

• ONGC Tripura Power
  • LT bank facilities raised to AA- from A+ at Care
  • Cites growth in revenues, profitability and cash accruals