HALISTER: Credit Agricole 3Q Net EU1.86b; Plans EU0.60 Div/Share for 2016

Credit Agricole 3Q Net EU1.86b; Plans EU0.60 Div/Share for 2016

(Bloomberg) -- Credit Agricole 3Q net EU1.86b compares with est. EU1.81b.
  • 3Q underlying net EU1.02b vs est. EU752m
  • Credit Agricole books 3Q EU1.25b gain from reorganization
  • Large-customers unit 3Q revenue up 38%
  • LCL unit has 3Q EU300m pretax funding charge
  • Credit Agricole plans to pay EU0.60 div/share for 2016; pledges 2017 dividend/share at least stable
  • Credit Agricole Group CET1 ratio 14.4% end Sept., up 20 bps
  • Amundi intends to file bid for Pioneer: Credit Agricole CEO
  • Credit Agricole CEO Brassac comments in call with journalists
  • Statement
  • PREVIEW here
  • Related
    • Credit Agricole is trading on 9.7x next year’s earnings vs 10.6x for the Stoxx 600 Banks index according to Bloomberg data
    • Stock is down 10% YTD vs a 18% fall in the SX7P index
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
4068781Z FP (Credit Agricole Groupe)
ACA FP (Credit Agricole SA)
AMUN FP (Amundi SA)
UCG IM (UniCredit SpA)

People
Philippe Brassac (Credit Agricole SA)

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UUID: 7947283

HALISTER1: INDIA RATINGS: Indsil Hydro Cut; Fusion Microfinance Raised

INDIA RATINGS: Indsil Hydro Cut; Fusion Microfinance 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
  • Indsil Hydro Power and Manganese
    • Long-term rating cut to BB+ from BBB at Crisil
    • Cites pressure on group’s liquidity due to lower-than- expected operating profitability and large debt obligations in FY17
  • Modicon
    • Long-term rating cut to BB- from BB+ at Crisil
    • Cites deterioration in debt protection metrics and capital structure due to weak profitability caused by volatility in silver prices
UPGRADES
  • Fusion Microfinance
    • Long-term bank facilities raised to BBB+ from BBB at CARE
    • Cites improvement in capitalization levels of company after capital infusion
  • Jaora Nayagaon Toll Road Co.
    • Long-term bank facilities raised to A+ from A- at CARE
    • Cites track record in toll generation from the project and lowering of interest cost due to refinancing
  • Utkal Alumina International
    • Long-term bank facilities raised to A+ from A- at CARE
    • Cites successful ramp up of company’s alumina refinery project and Hindalco’s aluminium smelter projects at Aditya and Mahan, low working capital related bank borrowings
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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(2) *CHINA OCTOBER RETAIL AUTO SALES RISE 20% ON YEAR: PCA

*CHINA OCTOBER RETAIL AUTO SALES RISE 20% ON YEAR: PCA

Alerts: HALISTER, HALISTER1
Source: BN (Bloomberg News)

Tickers
F US (Ford Motor Co)
600006 CH (DongFeng Automobile Co Ltd)
489 HK (Dongfeng Motor Group Co Ltd)
GM US (General Motors Co)
UG FP (Peugeot SA)

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