HALISTER: Berkshire Trying an Oncor Takeover in Texas Where Others Failed

Berkshire Trying an Oncor Takeover in Texas Where Others Failed

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
BRK/A US (Berkshire Hathaway Inc)
0771742D US (Texas Energy Future Capital Holdings LLC)

People
Warren E Buffett (Berkshire Hathaway Inc)
Jim Shanahan (Edward Jones)
Paul Patterson (Glenrock Associates LLC)

Topics
BFW U.S. Credit News

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UUID: 7947283

HALISTER: Berkshire Hathaway Energy Plans to Acquire Oncor

Berkshire Hathaway Energy Plans to Acquire Oncor

(Bloomberg) -- Co. executes definitive merger agreement with Energy Future Holdings Corp.
  • Berkshire Hathaway Energy will acquire reorganized EFH, which will ultimately result in the acquisition of Oncor, an energy delivery company serving ~10 million Texans
  • All-cash consideration for reorganized EFH is $9b implying an equity value of approx. $11.25b for Oncor and is subject to closing conditions
  • Transaction expected to be completed in 4Q of 2017
  • On closing of transaction, Bob Shapard will assume the role of executive chairman of Oncor, and Allen Nye will assume the role of Oncor CEO
  • NOTE: Berkshire Is Said to Near Oncor Deal After NextEra Failed
To contact the reporter on this story: Victoria Batchelor in Sydney at vbatchelor@bloomberg.net

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
BRK/A US (Berkshire Hathaway Inc)
TXU US (Energy Future Holdings Corp/Old)
0771742D US (Texas Energy Future Capital Holdings LLC)

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UUID: 7947283

HALISTER1: INDIA RATINGS: Adlabs Cut to D; Bhagwati Power Raised

INDIA RATINGS: Adlabs Cut to D; Bhagwati Power 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
  • Adlabs Entertainment
    • Term loan cut to D from BBB- at Care
    • Cites ongoing delays in servicing of interest on term loans
  • Infutec Healthcare
    • Long-term bank facilities cut to D from B+ at Care
    • Cites delays in servicing debt obligations due to deterioration in financial profile
  • Satra Buildcon
    • Term loan cut to BB(SO) from BBB-(SO) at Brickwork
    • Cites stretched liquidity position
UPGRADES
  • Bhagwati Power
    • LT bank facilities raised to BBB from BBB- at Crisil
    • Expects co. to maintain its improved business risk profile over the medium term
  • Clad Metal
    • LT bank facilities raised to BBB from BBB- at Crisil
    • Cites significant improvement in group’s revenue
  • Satya Surya Aluminium
    • LT bank facilities raised to B- from D at Crisil
    • Cites improvement in co.’s liquidity resulting in timely servicing of debt
  • Sri SCL Infatech
    • LT bank facilities raised to BB from B+ at Care
    • Cites improved operating profitability margins

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
ADLB IN (Adlabs Entertainment Ltd)
6591220Z IN (Bhagwati Power & Steel Ltd)
0996425D IN (Clad Metal India Pvt Ltd)

Topics
BFW Debt Capital Markets Asia
Emerging Mkts News, Analysis

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UUID: 7947283

HALISTER1: *RUSSIANS ARE SAID TO BE SUSPECTED IN HACKS ON U.S. POWER PLANTS

*RUSSIANS ARE SAID TO BE SUSPECTED IN HACKS ON U.S. POWER PLANTS

--TOM GILES

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
GXP US (Great Plains Energy Inc)
4474147Z US (Kansas Electric Power Cooperative Inc)
WR US (Westar Energy Inc)
4481739Z US (Wolf Creek Nuclear Operating Corp)

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UUID: 7947283