HALISTER: Akzo Nobel Rejects Third Takeover Offer by PPG, Defying Pressure

Akzo Nobel Rejects Third Takeover Offer by PPG, Defying Pressure

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
AKZA NA (Akzo Nobel NV)
PPG US (PPG Industries Inc)
3881102Z US (Causeway Capital Management LLC)
978333Z LN (Elliott Advisors UK Ltd)
978325Z US (Elliott Management Corp)

People
Antony Burgmans (TNT Express NV)
Michael McGarry (PPG Industries Inc)

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UUID: 7947283

HALISTER1: INDIA RATINGS: Reliance Communications Cut; Energon Power Raised

INDIA RATINGS: Reliance Communications Cut; Energon Power Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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DOWNGRADE
  • Coastal Energy
    • Fund-based limits cut to D from BB at ICRA
    • Cites delays in servicing debt obligations
  • Relcon Infraprojects
    • Long-term loan facilities cut to BB- from BB+ at Crisil
    • Expects liquidity to remain under pressure over the medium term due to high repayments
  • Reliance Communications
    • LT fund-based limits cut to BB from BBB at ICRA
    • LT fund-based limits of Reliance Telecom and Reliance Infratel cut to BB from BBB at ICRA
    • Cites weakening outlook of revenue generation and profitability of the group
UPGRADES
  • Century 21 Town Planners
    • Fund-based limits raised to BB from B+ at ICRA
    • Cites healthy operating profile
  • Energon Power Resources
    • Term loans raised to A- from BBB+ at ICRA
    • Cites satisfactory operating track record of its wind power capacity
  • Fonroche Saaras Energy
    • Long-term bank facilities raised to A from A- at Crisil
    • Cites reduction in borrowing cost on its term loans following acquisition of the companies by Hinduja Group

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
RCOM IN (Reliance Communications Ltd)
ACCC US (ACC Corp/US)
RELC IN (Relcon Infraprojects Ltd)
0611228D IN (Coastal Energy Pvt Ltd)
0661729D SP (Equis Pte Ltd)

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UUID: 7947283