HALISTER1: INDIA RATINGS: Ardent Steel, Zicom Cut; Symphony Vyapaar Raised

INDIA RATINGS: Ardent Steel, Zicom Cut; Symphony Vyapaar 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
  • Ardent Steel
    • Long-term bank facilities cut to D from BBB- at Care
    • Cites ongoing delays/defaults in debt servicing
  • Zicom Saas
    • LT bank facilities cut to BB+(SO) from BBB+(SO) at Care
    • Cites revision in rating of guarantor Zicom Electronic
UPGRADES
  • K.C.P. Sugar
    • LT bank facilities raised to A from A- at Care
    • Cites improvement in financial performance
  • Sawan Engineers
    • LT loan facilities raised to BB- from B+ at Crisil
    • Cites improvement in revenues, operating profitability
  • Symphony Vyapaar
    • LT bank facilities raised to A- from BBB+ at Care
    • Cites satisfactory performance of power plant since inception
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
ZSS IN (Zicom Electronic Security Systems Ltd)
0997243D IN (Ardent Steel Ltd)

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UUID: 7947283

HALISTER1: TAIWAN PREVIEW: Weak Exports May See USD/TWD NDF Rise to 100-DMA

TAIWAN PREVIEW: Weak Exports May See USD/TWD NDF Rise to 100-DMA

(Bloomberg) -- Bigger-than-expected fall in June exports could be trigger for USD/TWD 1-mo. NDF to climb to 100-DMA resistance for first time in four months near term, Bloomberg strategist Andrew Robinson writes.
  • Exports likely fell 3.1% y/y vs 9.6% drop in May, according to median est. in Bloomberg survey; ests. range from -6.8% to +1.8%; data due 4pm local time tomorrow
    • Exports have been worse than median est. on eight occasions in last 12 months
  • June imports forecast -3.5% y/y and trade surplus down to $2b from $3.5b, other surveys show
  • 1-mo. NDF down 0.2% at 32.268; 100-DMA at 32.490
    • Hasn’t closed above 100-DMA since March 2
  • 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: US Punishing North Korean Leader for Human Rights Abuses

US Punishing North Korean Leader for Human Rights Abuses

Alert: HALISTER1
Source: APW (Associated Press)

People
Kim Jong-Un (Democratic People's Republic of Korea)
Alexander Lukashenko (Republic of Belarus)
Bashar Al-Assad (Syrian Arab Republic)
John Kirby (United States Bureau of Public Affairs)
Kim Jong-Il (Democratic People's Republic of Korea)

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UUID: 7947283

HALISTER: Danone Said to Near $10b Deal for WhiteWave Foods: FT

Danone Said to Near $10b Deal for WhiteWave Foods: FT

(Bloomberg) -- Danone nearing agreement to buy WhiteWave Foods in deal likely to value WhiteWave at ~$10b, FT reports, citing two unidentified people informed about the talks.
  • Deal may be announced as early as Thursday
    • Timing of announcement could slip; transaction still being finalized
  • WhiteWave Foods, Danone didn’t immediately respond to request for comment: FT
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
BN FP (Danone SA)
WWAV US (WhiteWave Foods Co/The)

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UUID: 7947283