Halister News

--CHRISTIAN WIENBERG

--WOUT VERGAUWEN

--SHAJI MATHEW

(Bloomberg) -- Here’s a roundup of Indian company debt-rating changes.

• To get this story sent to your inbox real-time, run NI INRATINGS, click on Display & Edit, then Set Alert Delivery

UPGRADES

• GHCL
  • Long-term bank facilities raised to A from A- at Care
  • Cites healthy operating performance of its soda ash division
• The Ramaraju Surgical Cotton Mills
  • LT bank facilities raised to BBB from BBB- at Crisil
  • Cites healthy revenue growth

DOWNGRADE

• Datta Agro
  • LT bank facilities cut to D from B at Care
  • Cites ongoing delay in servicing of debt obligations

(Bloomberg) -- Malaysian government bonds dropped Thursday on seasonal year-end weakness and the market will struggle to rally from here amid limited demand from investors, says Jennifer Kusuma, a senior Asia rates strategist at Australia & New Zealand Banking Group Ltd.

• “While domestic investors are broad and deep enough to absorb net issuance, they have been buying more year-to-date compared to past years, so any incremental demand from them would be defensive in nature,” says Singapore-based Kusuma
• In absence of foreign purchases, Malaysian bonds would find it hard to rally
• Still, there’s unlikely to be excessive divergence with U.S. Treasuries as the worst of outflows from Malaysian bonds is probably over
• NOTE: 10-year govt yield rises 8bps to 3.98%; fell 16 bps in past three days

To contact the reporter on this story: Liau Y-Sing in Kuala Lumpur at yliau@bloomberg.net To contact the editors responsible for this story: Tan Hwee Ann at hatan@bloomberg.net Patricia Lui