HALISTER1: INDIA RATINGS: Kirloskar Ebara Cut; GSR Ventures Raised

INDIA RATINGS: Kirloskar Ebara Cut; GSR Ventures Raised

(Bloomberg) -- Here’s a roundup of debt-rating changes of Indian cos. To get this story sent to your inbox in real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery. DOWNGRADES
  • Kirloskar Ebara Pumps
    • Long-term loan facilities cut to A- from A at Crisil
    • Cites challenging external environment led by lower capex in oil and gas segment
  • Shree Mandvi Vibhag Sahakari
    • LT bank facilities cut to D from BB at Care
    • Cites ongoing delay in servicing debt obligation
  • Srivatsa International
    • LT loan facilities cut to D from BB- at Crisil
    • Cites delays in servicing its term debt due to deterioration in operating performance
UPGRADES
  • GSR Ventures
    • LT loan facilities revised to B+ from B at Crisil
    • Cites revenue growth and stable profitability
  • Prince Containers
    • LT loan facilities revised to BB- from B+ at Crisil
    • Expects improved financial risk profile
  • Piyanshu Chemicals
    • LT loan facilities revised to BBB from BBB- at Crisil
    • Cites considerable improvement in operating margin
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
6361 JP (Ebara Corp)
1012500Z IN (Prince Containers Pvt Ltd)

To de-activate this alert, click here

UUID: 7947283

HALISTER1: India’s New Bond Quota May Draw Limited Foreign Demand: Schroder

India’s New Bond Quota May Draw Limited Foreign Demand: Schroder

(Bloomberg) -- India’s move to raise foreign investors limit on bond holdings may draw only limited interest as bond supply will increase in the short term and the market has already priced in a possible RBI rate cut, Rajeev de Mello, Singapore-based investment manager at Schroder Investment Management, says in interview.
  • Limited interest seen in last debt quota auction
    • Bond yields will have to rise further to attract overseas investors
  • Oil prices are turning higher
  • Rupee remains on weakening trend even after recent rallly
  • NOTE: Govt’s fiscal 2017 borrowing starts in April; April- Sept gross borrowing at 3.55t rupees
  • NOTE: Cutoff was at 3.32 bps at March 28 auction vs 4.41 bps on March 8
  • NOTE: RBI to raise foreign investment limit in govt bonds by 205b rupees ($3.1b) over next half year; limit to be raised by 105b rupees from April 4 and by 100b rupees from July 5
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Rajeev De Mello (Schroders PLC)

To de-activate this alert, click here

UUID: 7947283

HALISTER: Deutsche Bank’s Achleitner Gets Support of Investor Sheikh Hamad

Deutsche Bank’s Achleitner Gets Support of Investor Sheikh Hamad

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
DBK GR (Deutsche Bank AG)
BLK US (BlackRock Inc)

People
Paul Achleitner (Deutsche Bank AG)
Hamad Al Thani (Qatar Electricity & Water Co QSC)

Topics
Who's News - People

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283

HALISTER: The Rise and Fall of Tim Leissner, Goldman’s Big Man in Malaysia

The Rise and Fall of Tim Leissner, Goldman’s Big Man in Malaysia

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
GS US (Goldman Sachs Group Inc/The)

People
Tim Leissner (Goldman Sachs Group Inc/The)
Arul Kandasamy (1Malaysia Development Bhd)
Edward Naylor (Goldman Sachs Group Inc/The)
Gerard David (Celsius Holdings Inc)
Henry Paulson (Paulson Institute)

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283