HALISTER1: INDIA RATINGS: Gokak Textiles Cut; Spark Insulators Raised

INDIA RATINGS: Gokak Textiles Cut; Spark Insulators 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
  • Gokak Textiles
    • Long-term fund-based facilities cut to D from BB- at ICRA
    • Cites delays observed in debt servicing
UPGRADE
  • Spark Insulators
    • LT fund-based facilities raised to BB- from B+ at ICRA
    • Cites increase in order book

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
GTEX IN (Gokak Textiles Ltd)

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

UUID: 7947283

HALISTER1: Yingde’s Chances of Takeover by PAG Improve After EGM: Lucror

Yingde’s Chances of Takeover by PAG Improve After EGM: Lucror

(Bloomberg) -- With Chairman Zhao Xiangti out of the picture and the board heading for a reshuffle, the probability of a successful takeover has “significantly improved,” says Mervyn Teo, a credit analyst at Lucror Analytics.
  • PAG will now push to complete the transaction, he says
  • Lucror recommends investors hold Yingde notes
  • NOTE: Yingde Gases shareholders voted in favor to remove Zhao, He Yuanping and three others from the board in an extraordinary general meeting Wednesday, according to statement to the Hong Kong stock exchange
  • Earlier stories:
    • Yingde investors said to reject proposal to oust Sun, Strutt
    • Yingde chairman’s deal with PAG hurts auction, founder says

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
2168 HK (Yingde Gases Group Co Ltd)
APD US (Air Products & Chemicals Inc)

People
Mervyn Teo (Lucror Analytics Pte Ltd)
Zhao Xiangti (Yingde Gases Group Co Ltd)

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

UUID: 7947283

HALISTER1: Argentina Debt Attractive After Moody’s Outlook Change: BofA

Argentina Debt Attractive After Moody’s Outlook Change: BofA

(Bloomberg) -- More positive rating actions expected, BofA strategist Jane Brauer writes in note.
  • “External debt bonds have some potential to rally further if the search for yield backdrop remains and the government delivers on the fiscal and inflation consolidation”
  • BofA remains overweight on Argentine debt, especially USD 21s to 26; prefers 21s for a more defensive trade and better carry
  • Recommends lightening in local law bonds like Bonar 20 and 24, 3y and 30y global bonds
  • “We see risks tilted to lower Argentina spreads in a scenario of more gradual US rate hikes, given positive news on the economy”
  • NOTE: From March 6, Moody’s Raises Argentina Outlook to Positive

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Jane Brauer (Bank of America Corp)

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

UUID: 7947283

HALISTER1: Mother Told to Return to Mexico After 18 Years in U.S.; North Korea Warns of War With U.S. Aired 7-8p ET - Part 2

Mother Told to Return to Mexico After 18 Years in U.S.; North Korea Warns of War With U.S. Aired 7-8p ET - Part 2

Alert: HALISTER1
Source: APW (Associated Press)

Tickers
0628625D US (MetroMile Inc)

People
Donald Trump (United States of America)
George Bush (United States of America)
Kevin De Leon ((CA)Senate)

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

UUID: 7947283