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News Update: Goldman Sachs Group Inc. Director to Leave; Federal Investi...

on March 02, 2011

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Will S&P's outlook upgrade lead to higher forex borrowing

Rating agency S&P has upped its outlook on India to stable from negative. Usually this means yields on Indian corporate bonds in the secondary market should move lower and Indian companies should be able to raise forex loans more cheaply. Will this S&P action lead to a flood of external commercial borrowings (ECBs) or forex loans? In an interview with CNBC-TV18, Anant Narayan, MD & Regional Head of Fixed Income and Currency Trading for South Asia for Stanchart and Gunit Chaddha, MD & CEO, Deutsche Bank discuss the significance of this latest upgrade in ratings. Below is a verbatim transcript of the interview. Also watch the Q: Did you see at all a fall in the yields of already trading corporate paper in the market? Narayan: The yields have been coming off over the last few days. Ever since the Budget, in fact, we have seen a contraction in the spreads and it has also been across the globe not just for India. But going forward, medium-term, this is definitely positive ne...

U.S. Equity Movers - BB&T, Eaton, Gannett, Lennar, Quicksilver:

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