HALISTER1: PHILIPPINES PREVIEW: CPI Seen Below Target Range for 10th Month

PHILIPPINES PREVIEW: CPI Seen Below Target Range for 10th Month

(Bloomberg) -- Impact of El Nino on food prices could keep consumer prices steady in Feb., economists forecasts suggest.
  • Consumer prices probably rose 1.3% y/y, matching rise in Jan., median est. in Bloomberg survey shows; range of ests. from 0.2% to 1.9%; data due 9am local time tomorrow
  • Feb. inflation may be 0.9% to 1.7%, BSP Governor Tetangco said on Feb. 26; will take measures in step with price stability
  • El Nino effect and new round of excise tax could push inflation to 1.4% in Feb., Finance Undersecretary Beltran said on same day, according to Philippine Star
  • Inflation rate seen at 1.5% in 1Q, holding below lower limit of central bank’s 2%-4% target band, another Bloomberg survey shows
  • Total farm losses due to El Nino estimated at 4.8b pesos ($102m) at end-Feb., Agriculture Dept. said yesterday
  • Inflation matched est. in Jan., data released Feb. 5 showed; USD/PHP fell 0.2% to 47.660 that day
  • USD/PHP down 0.4% today to 47.095
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: INDIA RATINGS: Britex Cotton, Global Infonet Cut; Qubix Raised

INDIA RATINGS: Britex Cotton, Global Infonet Cut; Qubix Raised

(Bloomberg) -- 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:
  • Britex Cotton International
    • Long-term loan facilities cut to D from BB at Crisil
    • Cites instances of co’s cash credit account being overdrawn for more than 30 days
  • Gujarat Hy-Spin
    • LT bank facilities cut to BB- from B+ at Care Ratings
    • Cites improvement in capital structure and debt coverage indicators
  • Global Infonet Distribution
    • LT loan facilities cut to BBB from BBB+ at Crisil
    • Cites reduced turnover from Samsung business and subsequent pressure on profitability
  • Mentha and Allied Products
    • LT loan facilities cut to BB+ from BBB- at Crisil
    • Expects group’s business profiles to remain constrained due to weak scenario in the mentha industry
  • M.P. Associates
    • LT loan facilities cut to D from B+ at Crisil
    • Cites delays in servicing term loans because of weak liquidity
  • Raebareilly Allahabad Highway
    • Senior debt cut to D from BB at Care Ratings
    • Cites delays in servicing interest during construction due to delays in fund infusion by promoters
  • Technofab Engineering
    • LT loan facilities cut to BBB+ from A- at Crisil
    • Cites decline in operating margin, stretch in liquidity due to large working capital requirement
UPGRADES:
  • Qubix Business Park
    • LT loan facilities revised to A- from BBB+ at Crisil
    • Expects debt protection metrics to strengthen over the medium term
  • SRG Housing Finance
    • LT bank facilities raised to BB+ from BB at Care Ratings
    • Cites growth in scale of operations in FY15
  • Vedic Resorts
    • LT bank facilities revised to BB+ from BB at Care Ratings
    • Cites timely completion of project, growth in total operating income
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
BX US (Blackstone Group LP/The)
9843614Z IN (Britex Cotton International Ltd)
0565943D IN (Global Infonet Distribution Pvt Ltd)
7564300Z IN (Mentha & Allied Products Ltd)
0811363D IN (Raebareilly Allahabad Highway Pvt Ltd)

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UUID: 7947283

HALISTER: Goldman Said Poised to Drop Russia Bond Bid Amid U.S. Pressure

Goldman Said Poised to Drop Russia Bond Bid Amid U.S. Pressure

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
GS US (Goldman Sachs Group Inc/The)
BAC US (Bank of America Corp)
C US (Citigroup Inc)
JPM US (JPMorgan Chase & Co)
MS US (Morgan Stanley)

People
Sergey Storchak (Russian Federation)

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UUID: 7947283

HALISTER1: USD/TWD Trims Decline After Hitting Two-Month Low

USD/TWD Trims Decline After Hitting Two-Month Low

(Bloomberg) -- USD/TWD now down 0.7%, most since Oct. 15, to 33.130; touched 32.954 earlier, weakest since Jan. 4.
  • Pair has been below 10-DMA, now at 33.455, since Jan. 22
  • TWD forwards are second most active today on DTCC, accounting for 25.8% of total volume
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: INSIDE ASIA: Yen Falls as BOJ Kuroda Says Won’t Hesitate to Act

INSIDE ASIA: Yen Falls as BOJ Kuroda Says Won’t Hesitate to Act

(Bloomberg) -- Yen weakens against dollar as Bank of Japan Governor Kuroda says central bank will examine risks and won’t hesitate to act if needed. Won maintains 5-day winning streak even after report North Korea fires short-range missiles into East Sea.
  • Japan’s 20-year govt bonds extend gains; BOJ deputy governor Nakaso says negative rate strategy will accelerate process to end deflation
    • Japanese top FX official Masatsugu Asakawa told Jiji Press yday yen wasn’t discussed at G-20 gathering last month; nation’s investors bought net 933.8b yen ($8.2b) overseas debt last week: Ministry of Finance
  • Won strengthens; South Korea’s consumer prices increased 1.3% in February from year earlier, versus est. 0.9% gain; nation to closely monitor possible impact from North Korea’s reckless provocations while impact on economy limited so far, Finance Minister Yoo says; Chinese visitors to South Korea increased 10% on year in Feb.
  • Aussie rises versus dollar; Australia posted trade deficit of A$2.94b in January, less than estimate A$3.2b shortfall; services index rose to 51.8 in February from 48.4 prior month
  • Kiwi gains; NZ commodity prices increased for the first time in four month in Feb. with 0.4% advance
  • Yuan strengthens; Caixin China February services PMI came in at 51.2 vs 52.4 in Jan.; country has sufficient policy tools to ensure medium-to-high-speed economic growth, China Securities Journal says
  • Ringgit advances most among Asian currencies; former Malaysian premier Mahathir will lead a people’s movement to force current Prime Minister Najib to step down, Malaysian Insider news website says
  • U.S. Treasuries little changed, with yield on 10-year bonds at 1.846%; Jan. factory orders due today, est. 2.1% m/m vs prev. -2.9%: Bloomberg survey
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
8301 JP (Bank of Japan)

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UUID: 7947283

HALISTER: New York Said to Investigate Insurers Over Hepatitis C Drugs

New York Said to Investigate Insurers Over Hepatitis C Drugs

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
AET US (Aetna Inc)
ANTM US (Anthem Inc)
0220072D US (EmblemHealth Inc)
ABBV US (AbbVie Inc)

People
Eric Schneiderman (State of New York Office of the Attorney General)
Leslie Moran (New York Health Plan)

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UUID: 7947283