Halister News

(Bloomberg) -- Hong Kong’s latest measures to tighten property lending will have some impact on banks’ margins, Hang Seng Bank Chairman Raymond Ch’ien says in interview with Bloomberg Television.

• Hang Seng Bank not looking at mortgage rates in the near future: Ch’ien
  • NOTE: Fresh Property Loan Curbs Herald End to Hong Kong Mortgage War
• On Moody’s downgrade of China, Ch’ien says Aa3 is still an “excellent grade”; cautiously optimistic that a re- rating will come: Ch’ien
  • NOTE: China Hit by First Moody’s Downgrade Since 1989 on Debt Risk
• No problem with Hong Kong banks as the banking system has been prudent: Ch’ien

To contact the reporter on this story: Alfred Liu in Hong Kong at aliu226@bloomberg.net To contact the editors responsible for this story: Marcus Wright at mwright115@bloomberg.net Andy Sharp

(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

• ACT Infraport
  • Long-term bank facilities cut to BB+ from BBB- at Crisil
  • Expects operating profitability to remain low over the medium term

• Khosla International
  • Working capital limits cut to D from B at ICRA
  • Cites over-utilization of cash credit limits

• New Bharat Rice Mills
  • Working capital limits cut to D from B at ICRA
  • Cites over utilization of cash credit limits

UPGRADES

• Ludhiana Steel Rolling
  • LT bank facilities raised to BB+ from BB- at Crisil
  • Cites increase in operating income, profitability due to higher sales

• Maxop Engineering
  • LT bank facilities raised to BBB- from BB at Crisil
  • Cites better business risk profile due to diversification in industry, geographical and customer bases

• Mehta Tubes
  • LT bank facilities raised to BBB- from BB+ at Crisil
  • Cites improvement in business and financial risk profile post completion of capex for new plant

• Sundaram Multi Pap
  • LT bank facilities raised to B- from D at Crisil
  • Cites regularization of working capital limit, timely payment of debt obligation over the past four month period through April

• Super Gold Suitings
  • LT bank facilities raised to BBB- from BB at Crisil
  • Expects sustained improvement in business risk profile due to ramp-up of denim plant

--MICHAEL PATTERSON