Halister News

(Bloomberg) -- German co.’s revenue 11.8 bln euros vs 11.6 bln-euro estimate as it reports fourth-quarter, full-year results in statement.

• Bayer sees EBITDA before special items, core earnings per share growing by mid-single-digit percentage this year
• Bayer to take special charge in Ebitda of about 500 mln euros
• Co. confident about closing Monsanto deal this year

(Bloomberg) -- Airbus 2016 Ebit before one-offs EU4.0b, est. EU3.8b *2016 revenue EU67b, est. EU65.4b *2016 dividend EU1.35 *2016 Free cash flow ex-items EU1.4b *Outlook: Airbus sees more than 700 airliner deliveries, mid-single-digit percentage growth in adjusted Ebit, EPS in 2017 *Statement *Webcast 9:30am CET *Preview To contact the reporter on this story: Tom Lavell in Frankfurt at tlavell@bloomberg.net To contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net Tom Lavell

(Bloomberg) -- Societe Generale recommends receiving India’s 1-year non-deliverable overnight-index swaps and simultaneously paying 5-year NDOIS at a spread of 31bps, strategist Amit Agrawal writes in note Wednesday.

• Target at 61bps with stop-loss at 16bps; trade horizon 2 to 3 months
• Impact of demonetization hasn’t been reflected in inflation yet, and RBI should further ease interest rate by 25bps in 2Q despite the central bank’s shift in stance to neutral from accommodative
• If GDP growth bottoms in coming quarters, the spread between 1yr and 5yr rates should move higher
• Long end of INR yield curve likely to be driven up along with higher U.S. yields
• The lack of demand in INR fixed-income assets from foreign investors, higher oil prices and higher state-development loans add to upside to Indian yields

(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

UPGRADES

• Dhanuka Agritech
  • Fund-based limits raised to AA- from A+ at ICRA
  • Cites steady revenue growth, improvement in profitability margins

• ETA Constructions
  • Term loan raised to BBB- from BB+ at ICRA
  • Cites improved cash flows, liquidity position due to monetization of land parcels and healthy collections from residential project

• Natco Pharma
  • Term loans raised to AA from AA- at ICRA
  • Cites robust revenue growth, healthy operating margins

• Sona Koyo Steering
  • Term loans raised to AA- from A+ at ICRA
  • Expectation of stronger business and financial linkage of Sona Koyo with key shareholder and technology supplier JTEKT Corp.

• VBHC Mumbai Value Homes
  • Fund-based limits raised to BBB+ from BBB at ICRA
  • Cites healthy booking levels, low outstanding debt levels which resulted in healthy cash flow coverage indicators

Economic Release Details: {HKGDQOQ Index ECOD} --SIMON LEE

(Bloomberg) -- Singapore dollar strengthens as currencies in Asia rebound from yesterday’s selldown and stocks in the region gain.

• The island’s currency gains 0.2% to 1.4185 per U.S. dollar; USD/SGD next support at 100-DMA of 1.4172
• MSCI Asia Pacific excluding Japan Index gains 0.5%, while benchmark Singapore stock index rises
• The pullback in USD/SGD last week highlights that key initial resistance levels are holding as confirmation of a deeper recovery phase is still lacking, according to JPMorgan note
  • Resistance levels in 1.4240/70 zone includes 38.2% retracement of decline from January high
• Yield on 10-year bond yield falls 3bps to 2.25%
• Deutsche Bank favors June 2021 notes over October 2021 debt
• Six-month swap-offer rate, floating leg of SGD interest-rate swaps, rose to 1.21801% Tuesday, highest since Jan. 17