HALISTER1: INDIA RATINGS: Bajaj Healthcare, Monte Carlo, V-Mart Raised

INDIA RATINGS: Bajaj Healthcare, Monte Carlo, V-Mart Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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UPGRADES
  • Aria Hotels
    • Long-term bank facilities raised to BB from BB- at Care
    • Cites growth in revenues due to improved operating performance
  • Bajaj Healthcare
    • LT loan facilities raised to BBB from BBB- at Crisil
    • Cites improvement in scale of operations, profitability margins
  • India Shelter Finance
    • LT bank facilities raised to A- from BBB+ at Care
    • Cites healthy growth in business volumes, improved profitability
  • Monte Carlo Fashions
    • LT fund-based facilities raised to AA- from A+ at ICRA
    • Cites improvement in liquidity
  • Pix Transmissions
    • LT bank facilities raised to BBB from BBB- at Care
    • Cites sustained healthy operating margins, comfortable liquidity position
  • V-Mart Retail
    • LT bank facilities raised to A+ from A at Care
    • Cites consistent growth in operating income, stable profit margins
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
BAJAJHEA IN (Bajaj Healthcare Ltd)
0570670D IN (India Shelter Finance Corp Ltd)
MOCF IN (Monte Carlo Fashions Ltd)
AHWL IN (Asian Hotels West Ltd)
PIX IN (PIX Transmissions Ltd)

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UUID: 7947283

HALISTER1: INSIDE THAILAND: Baht & Debt Little Changed; Trade Data Due

INSIDE THAILAND: Baht & Debt Little Changed; Trade Data Due

(Bloomberg) -- Baht was little changed after the prospects of more gradual rate hike by the Fed had sent it rallying for five days. The benchmark debt also held steady.
  • August customs trade data due today in which economists predict a wider trade surplus
    • Exports probably declined 1% y/y in Aug. and imports may have decreased 4%, leaving trade excess of $1.27b vs revised $843m surplus prior month, according to Bloomberg surveys before data due 10:30am local time
  • Investors should buy baht-denominated govt bonds maturing in Sept. 2022 at 1.90%, with target at 1.50% and stop loss at 2.15%, Standard Chartered said in Sept. 23 note
    • Purchases on the basis that 5-year bond issuance is light in 1Q17 and no supply of debt maturity shorter than 5-year notes
    • Inflation is likely to stay benign
    • Uncertainty surrounding BOJ and Fed resulted in bond sell-offs in DM, which also weighed on THB bonds while sell-off in THB securities provides tactical buying opportunities in 5-year sector
  • Former PM Yingluck should be fined about 35b baht ($1b) for overseeing program to buy rice from farmers above market rates, a state-appointed committee recommended over the weekend
  • Global investors bought net 4.4b baht in local bonds Sept. 23, taking weekly inflow to 25.8b baht, according to TBMA data; sold net $18m of local equities Sept. 23: exchange data
  • Govt to sell 5b baht of 91-day bills today
  • Baht little changed at 34.639 per dollar following 0.8% increase last week
  • Yield on 2.125% govt note due Dec. 2026 steady at 2.183%
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: People's Republic of China - DBRS Rating Report

People's Republic of China - DBRS Rating Report

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

Tickers
PRCH CH (People's Republic of China)

People
Fergus McCormick (DBRS Inc)
Rohini Malkani (DBRS Inc)

Topics
Fixed Income Research
Deposits Research
Credit Analysis Research
Credit Research
Investment Research

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UUID: 7947283

HALISTER1: MAJOR TECHS: NZD/USD Testing 50-DMA Support; GBP/USD Below 1.30

MAJOR TECHS: NZD/USD Testing 50-DMA Support; GBP/USD Below 1.30

(Bloomberg) -- Daily levels for GBP and Asian currency pairs:
  • USD/JPY -- Consolidating below 50-DMA
  • 3rd resistance: 104.29, 100-DMA
  • 2nd resistance: 103.36, Sept. 14 high
  • 1st resistance: 102.31, 50-DMA
  • Spot: 100.91; pivot point: 101.06
  • 1st support: 100.10, Sept. 22 low
  • 2nd support: 100.06, Aug. 26 low
  • 3rd support: 99.02, June 24 low
  • GBP/USD -- Capped below 50-DMA
  • 3rd resistance: 1.3248, Sept. 16 high
  • 2nd resistance: 1.3145, 50-DMA
  • 1st resistance: 1.3121, Sept. 22 low
  • Spot: 1.2981; pivot point: 1.2964
  • 1st support: 1.2915, Sept. 23 low
  • 2nd support: 1.2866, Aug. 15 low
  • 3rd support: 1.2851, July 11 low
  • AUD/USD -- Consolidating breach of 50-DMA resistance
  • 3rd resistance: 0.7756, Aug. 10 high
  • 2nd resistance: 0.7732, Sept. 8 high
  • 1st resistance: 0.7675, Sept. 22 high
  • Spot: 0.7611; pivot point: 0.7620
  • 1st support: 0.7583, 50-DMA
  • 2nd support: 0.7488, 100-DMA
  • 3rd support: 0.7442, Sept. 13 low
  • NZD/USD -- Testing 50-DMA support
  • 3rd resistance: 0.7564, May 14, 2015 high
  • 2nd resistance: 0.7486, Sept. 7 high
  • 1st resistance: 0.7369, Sept. 22 high
  • Spot: 0.7236; pivot point: 0.7243
  • 1st support: 0.7228, 50-DMA
  • 2nd support: 0.7205, Aug. 30 low
  • 3rd support: 0.7109, 100-DMA
  • USD/KRW -- Consolidating below 50-DMA
  • 3rd resistance: 1,132.15, July 27 low
  • 2nd resistance: 1,129.13, Aug. 22 high
  • 1st resistance: 1,117.62, 50-DMA
  • Spot: 1,1102.45 (close on Sept. 23); pivot point: 1,103.22
  • 1st support: 1,095.97, Sept. 9 low
  • 2nd support: 1,089.97, Sept. 8 low
  • 3rd support: 1,089.75, Sept. 7 low
  • USD/MYR -- Pivoting around 200-DMA
  • 3rd resistance: 4.1757, June 2 high
  • 2nd resistance: 4.1663, June 27 high
  • 1st resistance: 4.1300, Sept. 22 high
  • Spot: 4.1132 (close on Sept. 23); pivot point: 4.0981
  • 1st support: 4.0999, 200-DMA
  • 2nd support: 4.0760, Sept. 9 high
  • 3rd support: 3.9833, Aug. 16 low
  • USD/SGD -- Bouncing off 50-DMA support
  • 3rd resistance: 1.3837, May 30 high
  • 2nd resistance: 1.3723, 200-DMA
  • 1st resistance: 1.3659, Sept. 21 high
  • Spot: 1.3592; pivot point: 1.3590
  • 1st support: 1.3529, 50-DMA
  • 2nd support: 1.3441, Sept. 8 low
  • 3rd support: 1.3389, Aug. 19 low
  • USD/IDR -- Challenging September Low
  • 3rd resistance: 13,389, 200-DMA
  • 2nd resistance: 13,246, 100-DMA
  • 1st resistance: 13,146, 50-DMA
  • Spot: 13,077 (at close Sept. 23); pivot point: 13,079
  • 1st support: 13,058, Sept. 23 low
  • 2nd support: 13,033, March 18 low
  • 3rd support: 13,010, March 14 low
  • 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: Modi Magic Doesn’t Awe Moody’s Amid Biggest Bond Gain Since 2014

Modi Magic Doesn’t Awe Moody’s Amid Biggest Bond Gain Since 2014

Alert: HALISTER1
Source: BN (Bloomberg News)

People
Narendra Modi (Republic of India)
Krishna Memani (Oppenheimer Funds Inc)
Marie Diron (Moody's Investors Service)
Urjit Patel (Reserve Bank of India)

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UUID: 7947283