HALISTER1: INDIA RATINGS: Bhavnagar Energy, JMT Auto Cut; Belstar Raised

INDIA RATINGS: Bhavnagar Energy, JMT Auto Cut; Belstar 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
  • Bhavnagar Energy
    • Long-term bank facilities cut to BBB- from BBB+ at Care
    • Cites delay in project execution
  • Canter Engineers
    • LT loan facilities cut to BB+ from BBB- at Crisil
    • Cites weakening liquidity
  • JBF Industries
    • LT bank facilities cut to BBB+ from A- at Care
    • Cites decline in operating margins
  • JMT Auto
    • LT loan facilities cut to BB from BB+ at Crisil
    • Cites deterioration in financial risk profile post acquisition of REGE Holding GmbH and Amtek Components Sweden
UPGRADES
  • Belstar Investment
    • LT bank facilities raised to A from BBB- at Care
    • Cites change in parentage wherein Muthoot Finance has acquired major stake
  • Topsun Energy
    • LT bank facilities raised to BBB- from BB+ at Care
    • Cites significant improvement in liquidity profile
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
JMT IN (JMT Auto Ltd)
JBF IN (JBF Industries Ltd)
3624918Z IN (Belstar Investment and Finance Pvt Ltd)
1435211D IN (Bhavnagar Energy Co Ltd)
1247357D IN (Topsun Energy Ltd)

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UUID: 7947283

HALISTER1: USD/TWD NDFs May Be Capped by 50-DMA on Imports Surge: Analysis

USD/TWD NDFs May Be Capped by 50-DMA on Imports Surge: Analysis

(Bloomberg) -- USD/TWD 1-mo. NDF could retreat further from 50-DMA resistance if Taiwan imports rise as much as economists predict, Bloomberg strategist Andrew Robinson writes.
  • Imports surge could imply a boost in exports in coming months
  • Median est. in Bloomberg survey is for imports to rise 8.0% y/y in Sept. vs -0.8% previous month; would be first positive reading since Nov. 2014 and biggest growth since Aug. that year
    • Ests. range from -4.0% to +13.0%
  • Taiwan’s trade surplus probably narrowed to $3.92b from $3.99b in Aug. thanks to imports growth, another Bloomberg survey show
  • Exports forecast to rise 2.8% y/y vs 1.0% increase in Aug.
  • All data due 4pm local time tomorrow
  • Improvement in Taiwan data may be short-lived, HSBC writes in note today
  • 1-mo. NDF down 0.2% at 31.361
    • Touched one-week high of 31.461 yesterday
    • 50-DMA is 31.431
  • NOTE: Andrew Robinson 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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UUID: 7947283

HALISTER1: NAVMT II 2016-1 - DBRS Rating Report

NAVMT II 2016-1 - DBRS Rating Report

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

People
Chris O'Connell (DBRS Inc)
Ciaran Gorman (Barclays PLC)
David Windisch (Trenchant Ltd)
Michael Babick (DBRS Inc)

Topics
Fixed Income Research
Reports
Credit Analysis Research
Credit Research
Investment Research

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UUID: 7947283

HALISTER1: Treasury 2-Year Yield Breaching 2016 Downtrend: Charts

Treasury 2-Year Yield Breaching 2016 Downtrend: Charts

(Bloomberg) -- Declining path for 2-year Treasury yields since late December is being challenged as investors consider implications of strong ISM data and a live Fed meeting in November, Bloomberg strategist Mark Cranfield writes.
  • Yield above 200-DMA and breaking out of this year’s consolidation pattern marked with downtrend line at 0.81%; click here for chart
  • Momentum studies turning higher
    • MACD above signal and zero lines
    • Slow stochastics %K at 68; Williams %R -16
  • 2-year yield closed yesterday up 1 bp at 0.836%
  • Fed’s Fischer sees reasons to worry about ultra-low rates; story here
  • 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

(2) *GOLDMAN EMPLOYEES SAID TO PULL $300 MLN FROM COOPERMAN'S OMEGA

*GOLDMAN EMPLOYEES SAID TO PULL $300 MLN FROM COOPERMAN'S OMEGA

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

Tickers
5729Z US (Omega Advisors Inc)
GS US (Goldman Sachs Group Inc/The)

People
Leon Cooperman (Omega Advisors Inc)

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UUID: 7947283

HALISTER1: Safe Trust and Sound Trust - Transaction 69 Summary

Safe Trust and Sound Trust - Transaction 69 Summary

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

People
Jamie Feehely (DBRS Ltd)
Justin Tsang (DBRS Inc)
King Lam (DBRS Ltd)
Tim O'Neil (DBRS Ltd)

Topics
Fixed Income Research
Reports
Credit Analysis Research
Credit Research
Investment Research

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UUID: 7947283