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P595-M Bahay bonds maintain high rating

Philippine Rating Services Corporation (PhilRatings) has maintained the issue credit rating of PRS Aa for the remaining P595-million Class A Senior Notes of National Home Mortgage and Finance Corporation’s (NHMFC) Bahay Bonds 1 Securitization Transaction (BB1). Obligations rated “PRS Aa” are of high quality and are subject to very low credit risk. The obligor’s capacity to meet its financial commitment on the obligation is very strong. PhilRatings also assigned a Rating Outlook of Stable to the credit rating of the Class A Senior Notes. A Stable Outlook means the rating is likely to be maintained or to remain unchanged in the next twelve months. The ratings firm also adjusted the issue credit rating for the P310.898 million Class B Subordinated Notes (as of collection period ended June 2015) from PRS Baa to PRS …

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China intervenes in stock market after $590-billion rout

China moved to support its sinking stock market as state-controlled funds bought equities and the securities regulator signaled a selling ban on major investors will remain beyond this week’s expiration date, according to people familiar with the matter. Government funds purchased local stocks on Tuesday after a 7 percent tumble in the CSI 300 Index on Monday triggered a market-wide trading halt, said the people, who asked not to be identified because the buying wasn’t publicly disclosed. The China Securities Regulatory Commission asked bourses verbally to tell listed companies that the six-month sales ban on major stockholders will remain valid beyond Jan. 8, the people said. The moves suggest that policy makers, who took unprecedented measures to prop up stocks during a summer rout, are stepping in once again to end a …

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Telcos, consumer stocks are most favored in 2016

Telecommunication firms and consumer-focused companies are still the most favored stocks as the local stock market enters an election year. Nisha Alicer, head analyst at DA Market Securities, said that for the first trading week of this year, telco and consumer stocks will still be a hot buy. “I prefer telcos for dividend play and defensive play, while consumer/retail continue to be a strong sector,” said Alicer. She said consumer sector will be largely supported by election spending, lower oil prices, and the country’s demographic dividends. AB Capital Securities’ Alexander Tiu also placed his bet on telco and media companies which both fall under one sector in the benchmark index. He said these sectors will directly benefit from the 2016 presidential elections. Tiu added that media companies listed in the Philippine Stock Exchange (PSE) …

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