HALISTER1: INDIA RATINGS: Bhoruka Power Cut, C&S Electric Raised

INDIA RATINGS: Bhoruka Power Cut, C&S Electric Raised

(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
DOWNGRADES
  • Bhoruka Power
    • Long-term bank facilities cut to BBB from A- at Care
    • Cites drop in generation from hydel assets, delay in commissioning of some wind and solar plants
  • Real Strips
    • LT bank facilities cut to D from C at Care
    • Cites ongoing delays in servicing debt obligations
UPGRADES
  • C&S Electric
    • LT bank facilities raised to A from A- at Care
    • Cites consistently improving financial risk profile, liquidity position
  • Hyderabad Yadgiri Tollway
    • LT bank facilities raised to A- from BBB at Care
    • Cites partial replacement of old term loan, new debt structure has lower rate of interest
  • Ramelex
    • LT bank facilities raised to BB+ from BB- at Crisil
    • Cites revenue growth, stable profitability
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
4616263Z IN (Bhoruka Power Corp Ltd)
RLST IN (Real Strips Ltd)
7178301Z IN (C&S Electric Ltd)
1065080D IN (Hyderabad Yadgiri Tollway Pvt Ltd)

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HALISTER1: PBOC, CSRC Publish Fund Flow Rules on China-H.K. Stock Connect

PBOC, CSRC Publish Fund Flow Rules on China-H.K. Stock Connect

(Bloomberg) -- China’s central bank and securities regulator seek to implement stock connect programs smoothly, according to rules posted on PBOC website.
  • China Securities Depository and Clearing and Hong Kong Securities Clearing should work with banks on liquidity management to prevent risks from settlement
  • Banks of two clearing houses should work with regulators on cross-boarder fund management to prevent money laundering, terrorism financing and tax evasion
  • Link to statement: http://tinyurl.com/gpomuw6
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
PBCZ CH (People's Bank Of China)

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UUID: 7947283

HALISTER1: USD/MYR May Extend Rally Even If BNM Holds Rates: Analysis

USD/MYR May Extend Rally Even If BNM Holds Rates: Analysis

(Bloomberg) -- USD/MYR may test its 2015 high of 4.48 in medium term even if Malaysia’s central bank keeps its policy rate unchanged, as ringgit is still vulnerable to local and overseas factors, Bloomberg strategist David Finnerty writes.
  • FX pair remains in a strong bull trend, after breaching resistance at Jan. 7 high of 4.4285 to post a fresh YTD high; its MACD is bullishly above zero and signal line
  • Ringgit is being pressured lower due to various factors:
    • U.S. yields have risen sharply since President-elect Trump’s victory given his expansionist and potentially inflationary economic policies; Fed’s Yellen also signaled the central bank is close to hiking rates
    • Political pressure on PM Najib to resign has resurfaced with thousands of Malaysians gathering in Kuala Lumpur over the weekend to demand he step down
    • Investors are likely being spooked by BNM’s attempt to clamp down on trading of offshore forwards, with central bank intervening in FX market to slow down the pace of ringgit depreciation
  • BNM will leave its overnight policy rate unchanged at 3.00%, according to all 17 economists in Bloomberg survey; decision due at 3:00pm local time Nov. 23
  • NOTE: David Finnerty is an FX strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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HALISTER1: MAJOR TECHS: USD/JPY Facing Tsunami Risk; GBP/USD Pivots 1.2500

MAJOR TECHS: USD/JPY Facing Tsunami Risk; GBP/USD Pivots 1.2500

(Bloomberg) -- Daily levels for GBP and Asian currency pairs:
  • USD/JPY -- Consolidating below November high
  • 3rd resistance: 113.69, March 28 high
  • 2nd resistance: 111.91, April 25 high
  • 1st resistance: 111.45, May 30 high
  • Spot: 110.70; pivot point: 110.88
  • 1st support: 110.34, 5-DMA
  • 2nd support: 108.85, 10-DMA
  • 3rd support: 106.41, 200-DMA
  • GBP/USD -- Capped below 55-DMA
  • 3rd resistance: 1.2771, Oct. 5 high
  • 2nd resistance: 1.2674, Nov. 11 high
  • 1st resistance: 1.2618, 55-DMA
  • Spot: 1.2498; pivot point: 1.2439
  • 1st support: 1.2382, 21-DMA
  • 2nd support: 1.2221, Nov. 2 low
  • 3rd support: 1.2090, Oct. 11 low
  • AUD/USD -- Momentum studies oversold
  • 3rd resistance: 0.7517, 200-DMA
  • 2nd resistance: 0.7487, 10-DMA
  • 1st resistance: 0.7393, 5-DMA
  • Spot: 0.7373; pivot point: 0.7354
  • 1st support: 0.7306, June 24 low
  • 2nd support: 0.7286, June 16 low
  • 3rd support: 0.7202, June 2 low
  • NZD/USD -- Pivoting around 200-DMA
  • 3rd resistance: 0.7213, 55-DMA
  • 2nd resistance: 0.7176, 21-DMA
  • 1st resistance: 0.7108, 10-DMA
  • Spot: 0.7077; pivot point: 0.7043
  • 1st support: 0.6957, July 25 low
  • 2nd support: 0.6952, July 21 low
  • 3rd support: 0.6801, June 3 low
  • USD/SGD -- Consolidating below November high
  • 3rd resistance: 1.4527, 7-year high
  • 2nd resistance: 1.4444, Jan. 11 and YTD high
  • 1st resistance: 1.4289, Nov. 18 high
  • Spot: 1.4230; pivot point: 1.4247
  • 1st support: 1.4161, 10-DMA
  • 2nd support: 1.4017, 21-DMA
  • 3rd support: 1.3851, Nov. 9 low
  • USD/KRW -- Approaching five-month high
  • 3rd resistance: 1,217.15, March 9 high
  • 2nd resistance: 1,198.05, May 31 high
  • 1st resistance: 1,188.50, June 27 high
  • Spot: 1,186.63 (close on Nov. 21); pivot point: 1,184.61
  • 1st support: 1,165.52, 10-DMA
  • 2nd support: 1,152.46, 21-DMA
  • 3rd support: 1,128.58, 55-DMA
  • USD/MYR -- Approaching October 2015 high
  • 3rd resistance: 4.4800, Sept. 29, 2015 high
  • 2nd resistance: 4.4767, Sept. 30, 2015 high
  • 1st resistance: 4.4520, October 2015 high
  • Spot: 4.4198 (close on Nov. 21); pivot point: 4.4225
  • 1st support: 4.3525, Nov. 17 low
  • 2nd support: 4.3251, 10-DMA
  • 3rd support: 4.2520, 21-DMA
  • USD/IDR -- Consolidating below November high
  • 3rd resistance: 13,698, June 2 high
  • 2nd resistance: 13,589, June 3 low (breakaway gap)
  • 1st resistance: 13,545, Nov. 11 high
  • Spot: 13,423 (close on Nov. 21); pivot point: 13,432
  • 1st support: 13,294, 10-DMA
  • 2nd support: 13,228, 200-DMA
  • 3rd support: 13,163, 21-DMA
  • NOTE: Mark Cranfield is an FX strategist who writes for First Word. The observations he makes are his own and are not intended as investment advice.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: U.S. Structured Finance Newsletter - Credit Scoring Models Evolve with Changing Consumer Payment Behaviors

U.S. Structured Finance Newsletter - Credit Scoring Models Evolve with Changing Consumer Payment Behaviors

Alert: HALISTER1
Source: DBR (Dominion Bond Rating Service)

People
Charles Weilamann (DBRS Inc)
Chris Donofrio (Dbrs Inc)
Chris O'Connell (DBRS Inc)
Christopher D'Onofrio (DBRS Inc)
Claire Mezzanotte (DBRS Inc)

Topics
Fixed Income Research
Industry & Sector Research
Credit Research
Credit Analysis Research
Investment Research

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UUID: 7947283