Halister News

--LYNN THOMASSON

(Bloomberg) -- Envision Healthcare and an entity controlled by funds affiliated with KKR have entered a definitive agreement under which KKR’s portfolio company, Air Medical Group Holdings (AMGH), and Envision’s medical transportation subsidiary, American Medical Response (AMR), will combine to create a new industry leading medical transportation company. * Transaction will be structured as a cash acquisition of AMR from Envision valued at $2.4 billion. * Following closing of deal, AMR and AMGH will continue to support operations from two key leadership locations in Greenwood Village, CO, and Lewisville, TX * Fred Buttrell will continue as President and Chief Executive Officer of the Air Medical division. * Edward Van Horne will continue as President and Chief Executive Officer of the AMR division Link to Statement: Envision Healthcare to Sell American Medical Response To contact the reporter on this story: Robert Lavelle in New York at rlavelle@bloomberg.net

(Bloomberg) -- Shares climb as much 3% in Hong Kong to head for largest advance since July 20 after Goldman Sachs upgrades stock’s rating to buy from neutral.

• PT also raised to HK$23 from HK$13, a 16% premium from Monday’s close
• Goldman cites co.’s overseas push such as contract win at CK Hutchison and VimpelCom, its Nubia spinoff and a new consumer segment strategy, analysts Tina Hou and Donald Lu write in note dated Monday
• NOTE: July 28, ZTE Rises as Nubia Sale Seen Positive at Credit Suisse
• NOTE: December 22, ZTE Wins Deal to Merge Hutchison, VimpelCom Italy Networks

To contact Bloomberg News staff for this story: Ryan Lovdahl in Shanghai at rlovdahl@bloomberg.net To contact the editors responsible for this story: Robin Ganguly at rganguly1@bloomberg.net Ron Harui

(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

• J.R.D. International
  • Long-term bank facilities cut to B- from BB at Crisil
  • Cites stretched liquidity
• Vijay Textiles
  • Term loans cut to D from B+ at India Ratings
  • Cites continuous delays in debt repayments over 12 months ended July

UPGRADES

• Anand Engineering
  • LT bank facilities raised to BB from B+ at Crisil
  • Cites increase in cash accrual
• GVV Constructions
  • LT bank facilities raised to BBB from BBB- at Crisil
  • Cites scaling up of operations
• Prayagh Nutri
  • LT bank facilities raised to BBB from BBB- at Crisil
  • Cites increase in revenue, stable profitability
• TVS Credit
  • NCDs raised to AA- from A+ at Crisil
  • Cites increase in scale and diversity of operations, improvement in profitability

(Bloomberg) -- Outlook for Philippine gaming sector has turned “markedly better" in near term, defying concerns over new supply with entry of Okada Manila, Aaron Salvador, analyst at Deutsche Bank, writes in Aug. 8 report.

• “Not only has supply (capacity) growth been hit but gaming revenue is expanding faster than expected," allowing some operators to benefit disproportionately from the misfortunes or missteps of competitors
  • Delay in Okada Manila’s timetable has led to more gradual and modest impact on industry capacity while top-level management changes in co. may lead to delays in major strategic decision
  • Arson/robbery incident in Travellers’ Resort World Manila will result in reduced capacity near term and could have implications for its expansion plan
• Gaming revenue growth ex-Okada Manila accelerated to 37% in 1Q, aided by improved access to Entertainment City and better China-Philippine relations
  • Industry gross gaming revenue to grow 22%/25% for 2017/2018 from 19%/12% previously
• Raises Bloomberry to buy from hold; PT to 12.50 pesos from 6.90 pesos
  • Raised Melco Resorts Philippines to buy from sell; PT to 10.60 pesos from 3.10 pesos
  • Cuts Travellers to sell from hold, PT to 2.70 pesos from 2.90 pesos, citing potential lingering impact of its robbery/arson incident

To contact the reporter on this story: Ian Sayson in Manila at isayson@bloomberg.net To contact the editors responsible for this story: Divya Balji at dbalji1@bloomberg.net Margo Towie