HALISTER1: INDIA RATINGS: Sahyadri Cut, ASR Multimetals Raised

INDIA RATINGS: Sahyadri Cut, ASR Multimetals 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
  • Sahyadri Industries
    • Long-term bank facilities cut to BB from BB+ at Crisil
    • Cites weakening liquidity
UPGRADES
  • ASR Multimetals
    • LT bank facilities raised to BBB+ from BBB at Crisil
    • Cites improvement in cash flow adequacy
  • Harshni Textiles
    • LT bank facilities raised to BBB from B+ at Crisil
    • Cites acquisition of additional stake of company by Lakshmi Electrical Drives
  • K.T.C Foods
    • Fund-based limits raised to BB from BB- at ICRA
    • Cites healthy revenue growth
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
SAHI IN (Sahyadri Industries Ltd)
6599164Z IN (ASR Multimetals Pvt Ltd)
6588052Z IN (Harshni Textiles Ltd)

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UUID: 7947283

HALISTER: TPG Said to Exit Race for $2 Billion McDonald’s China Rights (1)

TPG Said to Exit Race for $2 Billion McDonald’s China Rights (1)

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
MCD US (McDonald's Corp)
6821Z US (Bain Capital Private Equity LP)
600429 CH (Beijing Sanyuan Foods Co Ltd)
CITIC CH (CITIC Group Corp)
CG US (Carlyle Group LP/The)

People
Ben Cavender (China Market Research Group)
Stephen Easterbrook (McDonald's Corp)

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UUID: 7947283

HALISTER: Nokia 3Q Sales Beat Ests.; Expects to Meet Networks Guidance

Nokia 3Q Sales Beat Ests.; Expects to Meet Networks Guidance

(Bloomberg) -- Nokia 3Q sales EU6b vs est. EU5.86b
  • 3Q adj. diluted EPS EU0.04 vs est. EU0.04
  • Says 4Q is expected to be soft from a topline perspective
  • Expects to meet guidance for Networks business of significant sequential sales and operating margin increase for 4Q, FY operating margin guidance of 7% to 9%
  • Earlier: CFO Timo Ihamuotila to join ABB from April 1
Statement
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
NOKIA FH (Nokia OYJ)

People
Timo Ihamuotila (Nokia OYJ)

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HALISTER1: Taiwan GDP Growth May Have Accelerated in Third Quarter: Survey

Taiwan GDP Growth May Have Accelerated in Third Quarter: Survey

(Bloomberg) -- Taiwan 3Q GDP growth may have expanded 1.8% year-on-year, the fastest pace since first quarter 2015, median estimate of a Bloomberg survey shows.
  • The survey interviewed 11 economists; forecasts range from 1.2% to 2.1%, compared with 0.7% growth in the second quarter; 3Q GDP due 8:30am Friday
  • Thanks to new iPhone demand, Taiwan 3Q growth should be boosted by better-than-expected exports, manufacturing sector and capital equipment investment, DBS economist Ma Tieying says; sees 2% growth in 3Q
    • But consumption and tourism service sectors are weak, labor market and salary growth is soft while number of China tourists are declining
    • GDP growth may decelerate in 1H next year but remain positive, as iPhone effect will retreat
    • Taiwan central bank may keep policy rate unchanged at 1.375% till end-2017
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Tieying Ma (Dbs Bank)

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UUID: 7947283