Halister News

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

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DOWNGRADES

• Automag India
  • Long-term bank facilities cut to BB+ from BBB- at Crisil
  • Cites degrowth in revenues
• Indian Peroxide
  • LT bank facilities cut to B from B+ at Crisil
  • Cites delay in commencing operations
• Spectra Motors
  • LT bank facilities cut to D from B+ at Crisil
  • Cites weak liquidity
• Sri Anjaneya Agrotech
  • LT bank facilities cut to D from B at Care
  • Cites delays in debt servicing
• Sundaram Multi Pap
  • LT bank facilities cut to D from B- at Crisil
  • Cites continuous over utilization in working capital limits
• Wadhwagroup Holdings
  • Term loan cut to BBB from BBB+ at India Ratings
  • Cites weaker sales and collections amid high repayments

UPGRADES

• Delhi MSW Solutions, Hyderabad Integrated MSW
  • LT bank facilities raised to BBB+(SO) from BBB-(SO) at Care
  • Cites credit enhancement in form of unconditional, irrevocable corporate guarantee by Ramky Enviro
• JBM Auto
  • LT bank facilities raised to A- from BBB+ at Crisil
  • Cites healthy revenue growth

Economic Release Details: {CNFAYOY Index ECOD}

Economic Release Details: {CNRSCYOY Index ECOD}

Economic Release Details: {CHVAIOY Index ECOD} --JEFF KEARNS

Economic Release Details: {CNRSCYOY Index ECOD} --JEFF KEARNS

Economic Release Details: {CNFAYOY Index ECOD} --JEFF KEARNS

(Bloomberg) -- Treasury 10-year yield may climb to 2.4%, a level it approached in July, if it breaks 2.20%, says Simon Pianfetti, senior manager in the market solutions department at SMBC Trust Bank in Tokyo.

• U.S. macro backdrop has improved since June, with Citigroup’s U.S. economic surprise index almost back to neutral
• “The North Korea news flow is almost gone, risk-on mood is strong and Treasuries were sold as a result, along with the yen”
• Important to monitor China flows in Treasuries over the short-term
  • China is preparing to sell $2b in bonds this month, WSJ reports, citing unidentified bankers in Hong Kong
  • “China’s intentions on Treasuries are not clear, but regarding FX policy and CNY, it’s obvious they want to curb yuan strength in the short term,” Pianfetti says
• Treasury 10-year yield at 2.19% after climbing 15bps in previous four days

To contact the reporter on this story: Netty Ismail in Singapore at nismail3@bloomberg.net To contact the editors responsible for this story: Tan Hwee Ann at hatan@bloomberg.net Patricia Lui

Economic Release Details: {AULFEMPC Index ECOD} --CHRIS BOURKE