HALISTER1: INDIA RATINGS: Hindustan Organic Cut to D; India Infoline Raised

INDIA RATINGS: Hindustan Organic Cut to D; India Infoline 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
  • Bertling Logistics
    • Long-term loan facilities cut to B from BB- at Crisil
    • Cites intense competition, delays in project execution
  • Hindustan Organic
    • NCDs cut to D from AAA (SO) at Care
    • Cites failure to fund designated account by co./govt on due date leading to delay in interest payment to bondholders
  • Shree Infra
    • Cash credit cut to B+ from BB- at ICRA
    • Cites zero booking, no advance inflow from customers in project
UPGRADES
  • India Infoline Finance
    • Subordinated debt raised to AA from AA- at Crisil
    • NCDs of India Infoline Housing also revised to AA from AA- at Crisil
    • Cites group’s improved capital position, well- diversified business risk profile
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
HOC IN (Hindustan Organic Chemicals Ltd)
IIFL IN (IIFL Holdings Ltd)
0554222D IN (Bertling Logistics India Pvt Ltd)

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UUID: 7947283

HALISTER1: Smaller Jump in Thai CPI May Push USD/THB Above 21-DMA: Analysis

Smaller Jump in Thai CPI May Push USD/THB Above 21-DMA: Analysis

(Bloomberg) -- Smaller-than-expected increase in Aug. inflation rate could trigger an acceleration in USD/THB’s rally, Bloomberg strategist Andrew Robinson writes.
  • Consumer prices probably rose 0.43% y/y following 0.10% increase in July, median est. in Bloomberg survey shows; ests. range from +0.10% to +0.90%; data due 10:30am local time tomorrow
    • Would be first increase in CPI in three months
  • Inflation likely picked up on higher domestic retail fuel prices and partly a recovery in domestic spending, Standard Chartered writes in note today; forecasts +0.41%
  • USD/THB could overcome 21-DMA resistance at 34.728 and advance to 50-DMA of 34.925 in near term
    • Slow stochastics and 14-day RSI both rising, which are bullish signals
  • USD/THB up 0.2% at 34.633; FX pair hasn’t traded above 50- DMA since June 29
  • 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: Mega Financial Holding Chairman Shiu Resigns

Mega Financial Holding Chairman Shiu Resigns

(Bloomberg) -- Shiu Kuang-si also resigns his chairman position at subsidiary Mega Bank, Mega Financial says in statement to Taiwan stock exchange.
  • NOTE: Mega Fined $180m by N.Y. Over Anti-Money Laundering Law Link
Link to Statement:Link
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
2886 TT (Mega Financial Holding Co Ltd)

People
Shiu Kuang-Si (Hua Nan Financial Holdings Co Ltd)

Topics
Management Changes
Financial Firm Departures
Who's News - People

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UUID: 7947283

HALISTER1: 3 Men in Line for Brazilian Presidency Accused of Corruption

3 Men in Line for Brazilian Presidency Accused of Corruption

Alert: HALISTER1
Source: APW (Associated Press)

Tickers
PETR4 BZ (Petroleo Brasileiro SA)

People
Dilma Rousseff (Federative Republic of Brazil)
Eduardo Cunha (Federative Republic of Brazil)
Michel Temer (Federative Republic of Brazil)
Renan Calheiros (Federative Republic of Brazil)
Sergio MacHado (Petrobras Transporte SA)

Topics
Criminal Practice & Procedure

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UUID: 7947283