HALISTER1: INDIA RATINGS: IDBI Bank Cut; Eicher Motors, TRN Energy Raised

INDIA RATINGS: IDBI Bank Cut; Eicher Motors, TRN Energy 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
DOWNGRADE
  • IDBI Bank
    • Basel III Tier 1 cut to BBB+ from A- at Crisil; Tier 2, infrastructure bonds reduced to A+ from AA-
    • Cites significant and more-than-expected deterioration in the bank’s asset quality and earnings
UPGRADES
  • Eastern Treads
    • Long-term bank facilities raised to BB from BB- at Crisil
    • Cites steady revenue growth, better-than-expected profitability
  • Eicher Motors
    • Fund-based facilities raised to AAA from AA+ at ICRA
    • Cites continued strong operational performance
  • Exult Logistics
    • LT bank facilities raised to BBB- from BB+ at Crisil
    • Expects group’s working capital management to continue to improve over the medium term
  • TRN Energy
    • Senior debt raised to BBB+(SO) from BB+ at Care
    • Cites letter of comfort provided by promoter ACB India to the lenders ensuring that the company will comply and meet its obligations

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
EIM IN (Eicher Motors Ltd)
IDBI IN (IDBI Bank Ltd)
ETR IN (Eastern Treads Ltd)
0966079D IN (TRN Energy Pvt Ltd)

Topics
Emerging Mkts News, Analysis

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UUID: 7947283

HALISTER: SoftBank Said to Take $4 Billion Stake in U.S. Chipmaker Nvidia

SoftBank Said to Take $4 Billion Stake in U.S. Chipmaker Nvidia

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
NVDA US (NVIDIA Corp)
9984 JP (SoftBank Group Corp)

People
Donald Trump (United States of America)
Jen-Hsun Huang (NVIDIA Corp)
Masayoshi Son (SoftBank Group Corp)

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UUID: 7947283

HALISTER: Moody’s Overestimated China’s Economic Difficulties: Ministry

Moody’s Overestimated China’s Economic Difficulties: Ministry

(Bloomberg) -- Moody’s also underestimated capability of Chinese government on deepening supply-side reform and boosting demand, according to a statement on Ministry of Finance website.
  • MOF sees no major changes in government debt risk indicators in 2018-2020 from 2016
  • GDP growth, reform and restriction on government borrowing will help curb local government debt risks
  • NOTE: China Downgraded to A1 by Moody’s on Worsening Debt Outlook Link
Link to Statement:Link

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
MCO US (Moody's Corp)
MOFZ CH (People's Republic of China Ministry of Finance)

Topics
Emerging Mkts News, Analysis

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UUID: 7947283

HALISTER1: Forbes: Former FC Barcelona President Arrested Following Raids In Spain

Forbes: Former FC Barcelona President Arrested Following Raids In Spain

Alert: HALISTER1
Source: FOR (Forbes)

People
Sandro Rosell (Fc Barcelona)
Alexis Sanchez (Fc Barcelona)
Javier Mascherano (Fc Barcelona)
Josep Bartomeu (Fc Barcelona)
Lionel Messi (Fc Barcelona)

Topics
European Football, Excluding Statistics
FC Barcelona
Spain Football
Latin America Football
Soccer

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UUID: 7947283

HALISTER1: *CHINA CUT TO A1 FROM Aa3 BY MOODY'S, OUTLOOK TO STABLE

*CHINA CUT TO A1 FROM Aa3 BY MOODY'S, OUTLOOK TO STABLE

Alert: HALISTER1
Source: BN (Bloomberg News)

Tickers
PRCH CH (People's Republic of China)

People
Atsi Sheth (Moody's Investors Service Inc)
Marie Diron (Moody's Investors Service)

Topics
Credit Research
Issuer Focused Research

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UUID: 7947283

HALISTER1: SoFi Professional Loan Program 2017-C LLC - DBRS Rating Report

SoFi Professional Loan Program 2017-C LLC - DBRS Rating Report

Alert: HALISTER1
Source: DBR (Dominion Bond Rating Service)

People
William Ford (United States House of Representatives)

Topics
Credit Analysis Research
Credit Research
Fixed Income Research
Investment Research
Reports

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UUID: 7947283