HALISTER1: INDIA RATINGS: Shilpi Cable, International Fresh Farm Cut

INDIA RATINGS: Shilpi Cable, International Fresh Farm Cut

(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
  • International Fresh Farm Products
    • Long-term rating cut to D from B+
    • Cites delays in debt servicing due to stretched liquidity position
  • Shilpi Cable Technologies
    • Long-term rating cut to BB from BBB+ at ICRA
    • Cites petition filed by an overseas creditor under Insolvency and Bankruptcy Code

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
1117Z IN (Haldia Petrochemicals Ltd)
0526713D IN (Kejriwal Industries Ltd)

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283

HALISTER1: Macau Stocks Price Targets Raised at Bernstein, Outlook Positive

Macau Stocks Price Targets Raised at Bernstein, Outlook Positive

(Bloomberg) -- Macau gross gaming revenue is expected to grow more than 16% in the second quarter and 10 percent for all of 2017 from a year ago, Bernstein analysts led by Vitaly Umansky write in a note Monday.
  • Target prices raised for five out of six Macau operators based on changes to forecasts and model rolling forward.
  • Top picks in the sector are:
    • Wynn Macau, PT raised to HK$19.50 from HK$16.50 on May 5
    • Melco Resorts & Entertainment, PT raised to $24.50 from $21.50
  • Market-Perform ratings maintained on:
    • Galaxy, PT raised to HK$44.50 from HK$39.50
    • MGM China, PT raised to HK$18 from HK$16
    • Sands China, PT raised to HK$34 from HK$33
    • SJM, PT raised to HK$6.50 from HK$6
  • Positive outlook on Macau gaming industry maintained; valuations have largely caught up with near and medium-term prospects, in light of continued risks the sector faces tied to China policy, regulatory impact on Macau and unsustainable drivers that have revitalized VIP
  • BI Macau (China) Gaming Market Index up 17% this year, Melco Resorts & Entertainment +39% on year, Wynn Macau +30%, Galaxy Entertainment +20%, SJM +18%, MGM China +4.7%, Sands China +2.4%
  • NOTE: Macau’s New ATM Rules Suggest Gaming Vulnerability: JPMorgan
To contact the reporter on this story: Daniela Wei in Hong Kong at jwei74@bloomberg.net To contact the editors responsible for this story: K. Oanh Ha at oha3@bloomberg.net Divya Balji

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
2282 HK (MGM China Holdings Ltd)
MLCO US (Melco Resorts & Entertainment Ltd)
880 HK (SJM Holdings Ltd)
1928 HK (Sands China Ltd)
1128 HK (Wynn Macau Ltd)

People
Vitaly Umansky (Sanford C Bernstein & Co Inc)

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283