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The site section: «Trader's tools»
The page name: «The FOREX market news for November 3rd»
The document address: http://news.fxclub.com/forex/news?action=printday&day=03&month=11&year=2009&key=18d4dd92fe6847884c883c8adbe4f3a8bb54044a
Date and page printing time: November 21th 2009 04:55 GMT


Trade's Tools | The FOREX market news

DJMN: German State Governor Koch Slams GM's Move To Keep Opel
BERLIN (Dow Jones)--The governor of the German state of Hesse, where General Motors Co.'s Opel unit is headquartered, said Wednesday he is "concerned and at the same time annoyed that the months-long efforts to find a good solution for Opel have failed because of GM."
In a statement, Roland Koch, a confidant of German chancellor Angela Merkel, said that considering the "negative experience in recent years with GM's corporate policy, I'm worried a lot about the future of (Opel) and its staff."
In a surprise move, GM's board late Tuesday decided it wants to retain its core European operations after talks over a possible sale have been dragging on for months.
Koch said he expects GM to repay by Nov. 30 the bridge financing provided by the German state "so that the German tax payer doesn't get harmed."
In May, GM entered a tentative agreement with Canadian auto-parts maker Magna International Inc. (MGA) over the sale of a majority stake in Opel and its British sister brand Vauxhall, which was backed by a total of EUR4.5 billion in state aid.
The top labor representative of GM's European operations, Klaus Franz, told Dow Jones in an email that a labor deal over EUR265 million in annual cost savings isn't valid if the U.S. automaker is keeping Opel and Vauxhall after all. The labor unions' position remains unchanged, he said.
The agreed cost savings would have totaled nearly EUR1.6 billion by 2014. In return, Opel workers would have received a 10% stake as part of the planned deal with Magna.

Company Web site: www.gm.com
-By Christoph Rauwald and Nico Schmidt, Dow Jones Newswires; +49 69 29 725 512; christoph.rauwald@dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=zzvIlbd1ABWdI3%2FD8hQw4w%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires
November 03, 2009 18:59 ET (23:59 GMT)

DJMN: PRESS RELEASE: Moody's: 3 Rfmsii Rmbs Transactions: No Negative Ratings Impact Of Servicer Transfer To Green Tree Servicing, Llc And Amendments To Servicing Agreements
The following is a press release from Moody's Investors Service: New York, November 03, 2009 -- Moody's Investors Service stated on November 2, 2009 that the underlying ratings (i.e. absent consideration of the related MBIA insurance policies) on the Moody's rated securities issued in the below listed transactions were not being downgraded or withdrawn as of that date, solely as a result of (a) the transfer of servicing from Residential Funding Company LLC to Green Tree Servicing, LLC, scheduled to occur on November 2, 2009 and (b) the execution of amended and restated servicing agreements. The servicing agreement amendments included, among other things, the addition of Green Tree Servicing as a party to the agreements, and other changes made in connection with the appointment of the successor servicer. MBIA, the bond insurer in the affected transactions, requested that Moody's provide its opinion to it as to whether the underlying ratings on the Moody's-rated securities issued in the affected transactions would be downgraded or withdrawn as a result of the servicing transfer and the amendments to the servicing agreements. Moody's believed, as of the above date, that the appointment of the successor servicer and the execution of the amendments did not have an adverse effect on the underlying ratings. Moody's did not express an opinion as to whether this action had, or could have, other non credit-related effects that investors may or may not view positively. The principal methodologies used in assessing the credit impact of the servicing transfer were the rating methodologies described in "Moody's Approach to Rating Residential Mortgage Servicers" (January 2001) and "Updated Moody's Servicer Quality Rating Scale and Definitions" (May 2005), which can be found at www.moodys.com in the Credit Policy & Methodologies directory, in the Ratings Methodologies subdirectory. Other methodologies and factors that may have been considered in the process of providing this opinion can also be found on this page. Affected Transactions: RFMSII Home Equity Loan Trust 2006-HSA4 RFMSII Home Equity Loan Trust 2006-HSA5 RFMSII Home Equity Loan Trust 2007-HSA1 CREDIT RATINGS ARE MIS'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES. MIS DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT.  CREDIT RATINGS DO NOT CONSTITUTE INVESTMENT OR FINANCIAL ADVICE, AND CREDIT RATINGS ARE NOT RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES.  CREDIT RATINGS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR.  MIS ISSUES ITS CREDIT RATINGS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE. Copyright 2009, Moody's Investors Service, Inc. and/or its licensors and affiliates including Moody's Assurance Company, Inc. (together, "MOODY'S"). All rights reserved. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY COPYRIGHT LAW AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. All information contained herein is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, such information is provided "as is" without warranty of any kind and MOODY'S, in particular, makes no representation or warranty, express or implied, as to the accuracy, timeliness, completeness, merchantability or fitness for any particular purpose of any such information. Under no circumstances shall MOODY'S have any liability to any person or entity for (a) any loss or damage in whole or in part caused by, resulting from, or relating to, any error (negligent or otherwise) or other circumstance or contingency within or outside the control of MOODY'S or any of its directors, officers, employees or agents in connection with the procurement, collection, compilation, analysis, interpretation, communication, publication or delivery of any such information, or (b) any direct, indirect, special, consequential, compensatory or incidental damages whatsoever (including without limitation, lost profits), even if MOODY'S is advised in advance of the possibility of such damages, resulting from the use of or inability to use, any such information. The credit ratings and financial reporting analysis observations, if any, constituting part of the information contained herein are, and must be construed solely as, statements of opinion and not statements of fact or recommendations to purchase, sell or hold any securities. NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY SUCH RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY MOODY'S IN ANY FORM OR MANNER WHATSOEVER. Each rating or other opinion must be weighed solely as one factor in any investment decision made by or on behalf of any user of the information contained herein, and each such user must accordingly make its own study and evaluation of each security and of each issuer and guarantor of, and each provider of credit support for, each security that it may consider purchasing, holding or selling. MOODY'S hereby discloses that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MOODY'S have, prior to assignment of any rating, agreed to pay to MOODY'S for appraisal and rating services rendered by it fees ranging from $1,500 to $2,400,000. Moody's Corporation (MCO) and its wholly-owned credit rating agency subsidiary, Moody's Investors Service (MIS), also maintain policies and procedures to address the independence of MIS's ratings and rating processes. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities who hold ratings from MIS and have also publicly reported to the SEC an ownership interest in MCO of more than 5%, is posted annually on Moody's website at www.moodys.com under the heading "Shareholder Relations - Corporate Governance - Director and Shareholder Affiliation Policy." Moody's Investors Service Pty Limited does not hold an Australian financial services licence under the Corporations Act. This credit rating opinion has been prepared without taking into account any of your objectives, financial situation or needs. You should, before acting on the opinion, consider the appropriateness of the opinion having regard to your own objectives, financial situation and needs.
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=zzvIlbd1ABWdI3%2FD8hQw4w%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires
November 03, 2009 18:57 ET (23:57 GMT)

DJMN: Moody's: 3 Rfmsii Rmbs Transactions: No Negative Ratings Impact Of Servicer Transfer To Green Tree Servicing, Llc And Amendments To Servicing Agreements
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:57 ET (23:57 GMT)

DJMN: NZ Fin Min Signals Property-Tax Change - Report
WELLINGTON (Dow Jones)--New Zealand Finance Minister Bill English wants changes to taxes covering investment properties, he said on TVNZ 7 Tuesday night.
"I think the evidence that investment patterns in New Zealand could be more productive I think is pretty strong."
Under current laws, losses on investment properties can be used to write off taxes and capital gains taxes on property are not as tightly applied as in other countries.
English repeated assurances that changes would not include a capital gains tax on homes, as advocated by many commentators.
"The government has ruled out capital gains taxes on domestic property, on your own home. It hasn't really ruled out anything else," says English.
Critics argue that investment is being funneled into unproductive parts of the economy, such as investment properties. A tax working group is working on policy options for the government, which are likely to be released by the end of the year.

Web site: http://www.tvnz.co.nz/tvnz-7

-Wellington Bureau, Dow Jones Newswires; 64-4-471-5990; djnews.wellington@dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=zzvIlbd1ABWdI3%2FD8hQw4w%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires
November 03, 2009 18:55 ET (23:55 GMT)

DJMN: US Senator Baucus Seeks To Preempt EPA C02 Powers
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:54 ET (23:54 GMT)

DJMN: PRESS RELEASE: Moody's Assigns Baa2 Revenue Bond -3-
of MOODY'S or any of its directors, officers, employees or agents in connection with the procurement, collection, compilation, analysis, interpretation, communication, publication or delivery of any such information, or (b) any direct, indirect, special, consequential, compensatory or incidental damages whatsoever (including without limitation, lost profits), even if MOODY'S is advised in advance of the possibility of such damages, resulting from the use of or inability to use, any such information. The credit ratings and financial reporting analysis observations, if any, constituting part of the information contained herein are, and must be construed solely as, statements of opinion and not statements of fact or recommendations to purchase, sell or hold any securities. NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY SUCH RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY MOODY'S IN ANY FORM OR MANNER WHATSOEVER. Each rating or other opinion must be weighed solely as one factor in any investment decision made by or on behalf of any user of the information contained herein, and each such user must accordingly make its own study and evaluation of each security and of each issuer and guarantor of, and each provider of credit support for, each security that it may consider purchasing, holding or selling. MOODY'S hereby discloses that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MOODY'S have, prior to assignment of any rating, agreed to pay to MOODY'S for appraisal and rating services rendered by it fees ranging from $1,500 to $2,400,000. Moody's Corporation (MCO) and its wholly-owned credit rating agency subsidiary, Moody's Investors Service (MIS), also maintain policies and procedures to address the independence of MIS's ratings and rating processes. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities who hold ratings from MIS and have also publicly reported to the SEC an ownership interest in MCO of more than 5%, is posted annually on Moody's website at www.moodys.com under the heading "Shareholder Relations - Corporate Governance - Director and Shareholder Affiliation Policy." Moody's Investors Service Pty Limited does not hold an Australian financial services licence under the Corporations Act. This credit rating opinion has been prepared without taking into account any of your objectives, financial situation or needs. You should, before acting on the opinion, consider the appropriateness of the opinion having regard to your own objectives, financial situation and needs.
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=zzvIlbd1ABWdI3%2FD8hQw4w%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires
November 03, 2009 18:54 ET (23:54 GMT)

DJMN: US Senator Baucus Seeks Lower CO2 Target For Climate Bill
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:54 ET (23:54 GMT)

DJMN: PRESS RELEASE: Moody's Assigns Baa2 Revenue Bond -2-
a variety of issues including both one-time anomalies and more systemic problems. These included: productivity challenges; higher salary and benefits expense; higher supply costs; a number of one time operational costs associated with converting to certain new systems; a near doubling of bad debt expense; a shifting payer mix with increased exposure to Medi-Cal (17.5% of gross revenues in 2008, 15.7% in 2006); and an unusually high number of catastrophic out-of-network cases (representing $5.3 million of additional expense). Audited results for FY 2009 show impressive improvement. PPH was able to achieve a very ambitious budget which required a $17 million improvement in operating income. In all, operating performance in FY 2009 improved to $17.6 million (3.4% margin) from a loss of $610 thousand (-0.1% margin) in FY 2008, and operating cashflow improved to $44.2 million (8.4% margin) from $25.3 million (5.3% margin). Drivers of operating improvement included: the reduction of one hundred full time equivalents (implemented in July of 2008); the hiring of additional nursing staff in order to reduce overtime expense and the use of travelers; a rebasing of all expense budgets; a reorientation towards core businesses; and a comprehensive supplies inventory. In particular, collections and payer contracts were significantly improved, resulting in a 10.5% increase in operating revenue despite generally flat or declining volumes. In contrast, expenses increased by just 6.9%. PPH is committed to further controlling expenses and improving its payment cycle. Projections for the duration of the project assume modest additional operating improvements. BALANCE SHEET POSITION: INCREASE IN DEBT SUBSTANTIALLY GREATER THAN EXPECTED; BALANCE SHEET IS SIGNIFICANTLY LEVERAGED Although liquidity slightly increased, the issuance of the series 2009 revenue bonds more than doubles PPH's total outstanding debt, leaving PPH's balance sheet thinly capitalized and heavily levered. While an issue of revenue bonds in FY 2010 was expected, the sizing of the deal has itself doubled, due to a desire to increase construction fund proceeds, the funding of a capitalized interest fund, the funding of the debt service reserve fund, and a rise in expected interest costs due to the System's recent deterioration of credit quality. In all, the sizing increased from an expected $110 million of construction proceeds, to a total of $225 million inclusive of all components. PPH's debt measures on a proforma basis are extremely weak. Proforma cash to debt as of FYE 2009 (ended June 30) is an extremely low 27%, debt to cash flow is a very unfavorable 14.4 times, and peak debt service coverage is just 1.9 times. Peak debt service coverage in particular is somewhat concerning as the 1.9 times coverage is based on FY 2009's rather favorable operating results. Thus, coverage going forward will be very sensitive to operating performance. Results similar to those produced in the previous three years would result in very low coverage, and would likely cause a further weakening of PPH's already modest cash position. Unlike most of PPH's peers, its balance of unrestricted cash and investments actually increased in FY 2009, to $117.5 million, from $98.4 million. Nevertheless, PPH's total liquidity remains weak, marginally increasing to 88 days cash on hand at FYE 2009, from a somewhat weaker 79 days at FYE 2008. PPH continues to have approximately $175 million of FSA-insured auction bonds outstanding. PPH's auctions have never failed, and in the last six months rates have averaged below 2.5%. PPH does not have current plans to refund or reconfigure these bonds. The auction bonds are swapped to fixed rate using a % of LIBOR fixed payer swap. The mark to market on the swap as of June 30, 2009 was negative $16.8 million. The swap is insured by FSA, and there are no collateral posting thresholds unless FSA is downgraded. OUTLOOK: The outlook remains negative reflecting ongoing challenges facing the organization. The scope and scale of PPH's master facilities plan, and PPH's significantly leveraged balance sheet, underscore the need for management to maintain improved operating performance. Operating performance, and project execution, have little margin for negative variability. What could change the rating - Up Long-term improvement of operating performance and liquidity; realization of potential volume growth, revenue growth, and improved cash flow generation from expanded facilities; What could change the rating - Down Inability to meet operating projections; inability to keep project costs from escalating beyond the original budget; start-up and transitional issues affecting performance; issuance of additional debt KEY INDICATORS Assumptions & Adjustments: -Based on financial statements for Palomar Pomerado Health -First number reflects audit year ended June 30, 2008 -Second number reflects proforma on audit year ended June 30, 2009 inclusive of the $225 million Series 2009 revenue bonds (assumed interest rate: 6.5%) -All calculations exclude General Obligation Bonds -Investment returns are smoothed at 5%; property tax revenue to support operations has been reclassified as operating income; property tax revenue for debt service on General Obligation bonds has been excluded; bad debt and interest expense have been reclassified as operating expense *Inpatient admissions: 28,928; 27,725 *Total operating revenues: $474 million; $524 million *Moody's-adjusted net revenue available for debt service: $30.5 million; $50.4 million *Total debt outstanding: $223.3 million; $439.0 million *Maximum annual debt service (MADS): $14.2 million; $26.9 million *MADS Coverage with reported investment income: 2.3 times; 1.8 times *Moody's-adjusted MADS Coverage with normalized investment income: 2.1 times; 1.9 times *Debt-to-cash flow: 8.6 times; 14.4 times *Days cash on hand: 79 days; 86 days *Cash-to-debt: 44%; 27% *Operating margin: -0.1%; -0.1% (proforma) *Operating cash flow margin: 5.3%; 8.4% RATED REVENUE BONDS -Series 1999 Insured Fixed Rate Revenue Bonds ($41 million outstanding), rated Baa2 (insured by MBIA) -Series 2006 Certificates of Participation Auction Rate Securities ($174 million outstanding); insured by FSA currently rated Aa3 with a developing outlook; Baa2 underlying rating RATED GENERAL OBLIGATION BONDS -Series 2005A General Obligation Bonds ($67 million outstanding) -Series 2007A General Obligation Bonds ($241 million outstanding) -Series 2009 General Obligation Bonds ($115.3 outstanding) CONTACTS Issuer: Robert Hemker, Chief Financial Officer (760) 740-6385 Financial Advisor: Ellen Riley, Kaufman Hall & Associates, (310) 426-2801 Underwriter: Chad Kenan, Citigroup, (213) 486-8841 The principal methodology used in rating PPH was Moody's Rating Methodology: Not-For-Profit Hospitals and Health Systems, published in January 2008 and available on www.moodys.com in the Rating Methodologies sub-directory under the Research & Ratings tab. Other methodologies and factors that may have been considered in the process of rating PPH can also be found in the Rating Methodologies sub-directory on Moody's website. The last rating action taken with respect to PPH's revenue bond rating was on February 26, 2009, at which time Moody's downgraded PPH's rating to Baa1 from A3, and maintained the negative outlook. ANALYSTS: Brad E. Spielman, Analyst, Public Finance Group, Moody's Investors Service Mark Pascaris, Backup Analyst, Public Finance Group, Moody's Investors Service CONTACTS: Journalists: (212) 553-0376 Research Clients: (212) 553-1653 CREDIT RATINGS ARE MIS'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES. MIS DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT.  CREDIT RATINGS DO NOT CONSTITUTE INVESTMENT OR FINANCIAL ADVICE, AND CREDIT RATINGS ARE NOT RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES.  CREDIT RATINGS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR.  MIS ISSUES ITS CREDIT RATINGS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE. Copyright 2009, Moody's Investors Service, Inc. and/or its licensors and affiliates including Moody's Assurance Company, Inc. (together, "MOODY'S"). All rights reserved. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY COPYRIGHT LAW AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. All information contained herein is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, such information is provided "as is" without warranty of any kind and MOODY'S, in particular, makes no representation or warranty, express or implied, as to the accuracy, timeliness, completeness, merchantability or fitness for any particular purpose of any such information. Under no circumstances shall MOODY'S have any liability to any person or entity for (a) any loss or damage in whole or in part caused by, resulting from, or relating to, any error (negligent or otherwise) or other circumstance or contingency within or outside the control
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:54 ET (23:54 GMT)

DJMN: PRESS RELEASE: Moody's Assigns Baa2 Revenue Bond -2-
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:54 ET (23:54 GMT)

DJMN: PRESS RELEASE: Moody's Assigns Baa2 Revenue Bond Rating To Palomar Pomerado Health's (CA) Series 2009 Certificates Of Participation; Rating On Parity Debt Is Downgraded To Baa2 From Baa1; Outlook Remains Negative
The following is a press release from Moody's Investors Service: SYSTEM TO HAVE TOTAL OF $440 MILLION OF RATED REVENUE BONDS OUTSTANDING Palomar Pomerado Health, CA Health Care-Hospital California Moody's Rating Issue                                                      Rating Fixed Rate Revenue Bonds, Series 2009                        Baa2   Sale Amount          $225,000,000   Expected Sale Date   11/10/09   Rating Description   Hospital Revenue Bonds Moody's Outlook  - Negative NEW YORK, November 3, 2009 -- Moody's Investors Service has assigned Baa2 revenue bond ratings to Palomar Pomerado Health's (PPH) series 2009 certificates of participation and have downgraded to Baa2 from Baa1 the ratings on PPH's parity revenue bond debt (listed at the conclusion of this report). The downgrade reflects a substantial increase in debt that is greater than expectations, resulting in materially stressed balance sheet measures. The outlook remains negative pending the continued improvement in operations, and the successful completion and operation of the project. No additional revenue bonds are expected. As a district hospital with the ability to issue tax supported debt, PPH also has $xx million of Unlimited Tax General Obligation Bonds outstanding, backed by an unlimited property tax pledge of the district's large residential tax base. Concurrent with this financing, and in conjunction with the downgrading of the district's revenue bond rating, the district's UTGO bond rating has been downgraded to A2 from A1. USE OF PROCEEDS: The Series 2009 proceeds will be used to: (1) fund various capital projects, including a large replacement facility for Palomar Hospital; (2) fund a debt service reserve fund; (3) pay capitalized interest; and (4) pay costs of issuance. LEGAL SECURITY: Revenue bonds are secured by a pledge of gross revenues of the system and will be backed by a fully funded debt service reserve fund. In conjunction with this financing, PPH has entered into a continuing disclosure agreement, whereby it commits to making available unaudited interim financial statements on a quarterly basis. INTEREST RATE DERIVATIVES: PPH is counterparty on a LIBOR-based fixed payer swap that hedges the interest rate risk of the FSA-insured Series 2006 auction rate bonds. The mark to market on the swap as of June 30, 2009 was negative $16.8 million. Under current conditions, there are no collateral posting requirements related to the swap. In the event FSA is downgrade to A3, collateral posting would be required on valuations in excess of $10 million. If the rating on FSA is downgraded to Baa1, the collateral posting threshold is reduced to $5 million. If the rating on FSA is downgraded to Baa2 or below, the collateral posting threshold on the swap in reduced to zero. CHALLENGES *Heavy debt load, with a further doubling of outstanding revenue bonds; proforma cash to debt as of fiscal year end (FYE) 2009 (ended June 30) is an extremely low 27%, proforma debt to cash flow is a very unfavorable 14.4 times, and peak debt service coverage is just 1.9 times *Large, $983 million, multi-year capital program with the vast majority of expenditures occurring by fiscal year (FY) 2012; the primary project will cost significantly more than expected; certain other projects have been downscaled, reconfigured, or eliminated in order to limit overall cost escalations *Project completion is dependent on significant contributions from operating cashflow; failure to meet operating cashflow targets (which presume the continued improvement in operations) would likely further weaken the system's balance sheet, and could jeopardize the project's completion *Larger than average exposure to Medi-Cal; which makes up over 18% of PPH's payer mix; while funding under Medi-cal is likely to remain constant in the short term, challenges at the State, and healthcare reform, could have a material effect on reimbursement *Overall competitive and difficult operating environment with the presence of large providers in San Diego, and signs of increasing competition STRENGTHS *Significantly improved operating performance in FY2009 with operating income jumping to $17.6 million (3.4% margin) from a loss of $610 thousand (-0.1% margin) in FY 2008; operating cashflow improved to $44.2 million (8.4% margin) from $25.3 million (5.3% margin) *Conservative investment strategy, with little exposure to equities or alternative investments; PPH's balance of unrestricted cash investments grew in FY 2009 despite unfavorable investment markets *Dominant market position (55% market share) in northern San Diego County with the only inpatient facilities in the district *Strong community support as evidenced by passage of a $496 million General Obligation Bond measure in support of the system's Master Facility Plan; the master facility plan will expand capacity, significantly improve the physical plant (including the construction of a new replacement hospital), and result in full SB1953 seismic compliance *The original Palomar hospital has been deemed seismically compliant under the new HAZUS guidelines, providing the system with greater programmatic and clinical flexibility MARKET POSITION/COMPETITIVE STRATEGY: LEADING PROVIDER IN NORTH SAN DIEGO COUNTY; AMBITIOUS CAPITAL PROJECT EXPERIENCES COST ESCALATION PPH, the largest healthcare district in the state of California, enjoys a leading 55% market share in its primary service area, and is the only inpatient provider of acute care services in its district. Consisting of a 107-bed facility in Poway (Pomerado Hospital), a 324-bed facility in Escondido (Palomar Medical Center), two Skilled Nursing centers, and other ancillary healthcare facilities, PPH generates approximately 28,000 admissions annually. PPH competes with a number of other providers in San Diego county including A2-rated Scripps Health hospitals, which draws a 13% market share from PPH's primary service area, and Baa1-rated Sharp HealthCare hospital, which receives a 10% market share. We believe Scripps' and Sharp's broad market coverage and financial resources pose competitive challenges to PPH, particularly in its secondary service area which is outside the boundaries of the District. PPH is in the midst of a very significant capital program, originally expected to cost a total of $983 million through 2014. The project has several components including: the construction of a replacement hospital for Palomar Medical Center's inpatient services (originally expected to cost $773 million); the renovation of the existing Palomar Medical Center campus to accommodate non-acute care service, specialty acute services, and additional outpatient services ($21 million); a variety of projects at the Pomerado Hospital campus (originally including the construction of a new patient tower and expected to cost $176 million); and the development of satellite facilities to be located throughout the district ($13 million). In the last several months, there has been significant cost escalation of the projects, and management has significantly reconfigured project scope in order to limit overall cost increases. Remaining costs are presently expected to total nearly $700 through 2012. The expected cost of the Palomar hospital replacement facility has increased to approximately $1 billion. The construction of the new patient tower on the Pomerado campus has been cancelled, and project costs there are expected to be limited to the $68 million incurred to date. Management is committed to keeping total expenditures to the original budget of $983 million, and is contemplating a number of strategies to achieve that, including the outsourcing of the new power plant (which would save $75 million in capital investment, but would increase ongoing operating expenses over the long term) and greater utilization of the original Palomar hospital in the short term (which has been made possible through the facility's meeting of the 2030 seismic standards under the new HAZUS protocols). Management estimates that close to 95% of all remaining project costs are now under contract, and it does not expect additional cost escalation. Given the size and scope of the project, we believe that there are still risks associated with the project's execution and implementation, and believe it will be important for management to not exceed the original master facility plan budget in order to ovoid further credit deterioration. PPH is entering the peak period of project spending, with expenditures expected to total $318 million in FY 2009, $271 million in FY 2011, and $107 million in FY 2012, equating to a capital spending level of approximately 10 times depreciation expense. Total project sources include a total of $405 million of revenue bonds (producing approximately $300 in construction fund proceeds), $496 of general obligation bonds (including $65 million that have yet to be issued, and will likely require the issuance of Bond Anticipation Notes in 2011), $45 in philanthropy, and $140 million from operating cashflow. Due to the expected timing of philanthropic pledge receipts, many of which will not be received until later, we estimate that the burden on organizational resources of all capital spending for the next three years is approximately $130 million, (assuming PPH is successful in outsourcing the power plant and saves thereby $75 million). The $130 million over three years will strain the System's current rate of free cashflow generation (which reached $43 million in FY 2009, up from $27 in FY 2008). OPERATING PERFORMANCE: SIGNIFICANT OPERATING IMPOVEMENTS AFTER THREE YEARS OF DIFFICULTY The need to increase the current bond offering is related to PPH's recent history of softer performance. From 2006 through 2008, PPH consistently failed to hit its budget, and produced operating cashflow that was inconsistent with the project's assumptions. The softer performance during this time was due to
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:54 ET (23:54 GMT)

DJMN: Moody's Assigns Baa2 Revenue Bond Rating To Palomar Pomerado Health's (CA) Series 2009 Certificates Of Participation; Rating On Parity Debt Is Downgraded To Baa2 From Baa1; Outlook Remains Negative
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:54 ET (23:54 GMT)

DJMN: Vishal Retail, Lenders Agree To Restructure Debt - Report
DOW JONES NEWSWIRES

Vishal Retail Ltd. (532867.BY) has agreed the restructuring of INR7.3 billion ($155.4 million) of debt with lenders, the Press Trust of India reported Tuesday, citing Vishal Retail Group President Ambeek Khemka.
"The agreement with our lenders has been signed and the corporate debt restructuring process will begin within the first half of November," the PTI quoted Khemka as saying.
Khemka said he was optimistic the process would be completed within 100 days of its start, the Web site said. The departure of promoter Ramchandra Agarwal isn't a precondition for the debt restructuring, he added, the PTI reported.

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(END) Dow Jones Newswires
November 03, 2009 18:51 ET (23:51 GMT)

DJMN: Interbank Foreign Exchange Rates At 18:50 EST / 2350 GMT
Latest     Previous   %Chg   Daily   Daily    %Chg Dollar Rates                        2150 GMT          High    Low      12/31 USD/JPY Yen              90.38-41   90.26-31   +0.13  90.41   90.28    -0.24 EUR/USD Euro             1.4722-24  1.4733-34  -0.07  1.4732  1.4709   +5.32 GBP/USD Sterling         1.6414-18  1.6442-46  -0.17  1.6441  1.6415  +12.22 USD/CHF Swiss Franc      1.0259-64  1.0249-58  +0.10  1.0270  1.0255   -3.84 USD/CAD Canadian Dlr     1.0664-69  1.0657-62  +0.07  1.0669  1.0654  -12.34 AUD/USD Australian Dlr   0.9033-37  0.9039-42  -0.07  0.9046  0.9023  +27.71 NZD/USD New Zealand Dlr  0.7209-19  0.7212-22  -0.04  0.7227  0.7204  +23.55 Euro Rates EUR/JPY Yen              133.06-08  132.99-04  +0.05  133.18  132.86   +5.07 EUR/GBP Sterling         0.8966-69  0.8958-63  +0.09  0.8968  0.8951   -6.22 EUR/CHF Swiss Franc      1.5106-09  1.5104-07  +0.01  1.5109  1.5102   +1.17 EUR/CAD Canadian Dlr     1.5698-10  1.5700-09  -0.01  1.5707  1.5681   -7.76 EUR/AUD Australian Dlr   1.6292-01  1.6293-00  -0.01  1.6318  1.6281  -17.55 EUR/DKK Danish Krone     7.4415-21  7.4418-20  -.004  7.4419  7.4417   -0.01 EUR/NOK Norwegian Krone  8.4940-05  8.5048-96  -0.13  8.5065  8.4846  -12.51 EUR/SEK Swedish Krona    10.5021-97 10.4712-63 +0.30  10.5096 10.4616  -3.89 EUR/CZK Czech Koruna     26.2140-10 26.2240-40 -0.04  26.2390 26.2140  -2.01 EUR/HUF Hungary Forint   276.74-04  276.31-46  +0.16  276.94  276.48   +5.00 EUR/PLN Polish Zloty     4.2628-82  4.2635-63  -0.02  4.2649  4.2650   +3.59 Yen Rates AUD/JPY Australian Dlr   81.63-69   81.61-64   +0.02  81.78   81.53   +28.96 GBP/JPY Sterling         148.35-47  148.39-48  -0.03  148.58  148.22  +12.14 CAD/JPY Canadian Dlr     84.71-77   84.68-72   +0.04  84.79   84.65   +14.18 NZD/JPY New Zealand Dlr  65.16-24   65.15-18   +0.02  65.32   65.07   +24.71 Other Dollar Rates USD/CZK Czech Koruna     17.796-26  17.781-17  +0.08  17.833  17.808   -6.90 USD/HUF Hungary Forint   187.45-68  187.38-81  +0.04  188.15  187.80   -0.45 USD/DKK Danish Krone     5.0536-59  5.0508-12  +0.06  5.0595  5.0514   -5.07 USD/NOK Norwegian Krone  5.7723-78  5.7730-55  -0.01  5.7790  5.7640  -16.89 USD/PLZ Polish Zloty     2.8958-73  2.8930-49  +0.10  2.9042  2.8952   -2.20 USD/RUB Russian Ruble    29.304-09  29.294-99  +0.03  29.323  29.299   -4.00 USD/SEK Swedish Krona    7.1287-37  7.1078-63  +0.29  7.1367  7.1080   -8.73 USD/EEK Estonia Kroon    10.6265-87 10.6186-15 +0.07  10.6366 10.6218  -4.98 USD/HKD Hong Kong Dlr    7.7501-06  7.7496-09  +0.01  7.7503  7.7503  +0.003 USD/MYR Malaysian Ringt  3.4290-20  3.4290-20   0.00 *3.4300  3.4130   -0.61 USD/INR Indian Rupee     47.1200-00 47.1200-00  0.00 *47.4200 46.9600  -3.01 USD/IDR Indones Rupiah   9570-580   9570-580    0.00 *9590    9540    -11.80 USD/PHP Philippine Peso  47.500-00  47.500-00   0.00 *47.750  47.280   +0.17 USD/SGD Singapore Dlr    1.3996-02  1.3994-04  +0.01  1.4004  1.3996   -2.15 USD/KRW S. Korean Won    1190.6-2.6 1191.1-2.1 -0.04  1191.1  1192.1   -5.66 USD/TWD Taiwan Dlr       32.530-40  32.530-40   0.00 *32.610  32.468   -0.69 USD/THB Thai Baht        33.45-49   33.45-49    0.00  33.45   33.49    -3.63 USD/VND Vietnamese Dong  17841-41   17841-41    0.00 *                 +2.07 USD/ZAR S. African Rand  7.7820-70  7.8185-85  -0.47  7.8415  7.7975  -17.56 USD/BRR Brazilian Real   1.745-46   1.745-46    0.00  1.745   1.746   -24.56 USD/MXN Mexican Peso     13.250-80  13.251-58  -0.01  13.267  13.256   -2.95 USD/ARS Argentine Peso   3.8175-25  3.8175-25   0.00 *                +10.65 * Untraded today. High, low and latest are from previous trading day Source: Reuters Group PLC
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November 03, 2009 18:50 ET (23:50 GMT)

DJMN: American Lorain: Proceeds To Support Comml Campaign Promoting Pdts In Chinese Market
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)
November 03, 2009 18:49 ET (23:49 GMT)

DJMN: TAIWAN MONEY MARKET CONDITIONS - November 4
DAILY RESERVES SURPLUS (Nov 3)- NT$121.90 billion ACCUMULATED RESERVES SURPLUS IN PERIOD - NT$1.22 trillion November 4 Wednesday Inflows 1. NT$391.3 billion NCDs/CDs maturing Outflows 1. Central bank expected to issue short-term paper in money market operations November 5 Thursday Inflows 1. NT$38.65 billion NCDs/CDs maturing Outflows 1. Central bank expected to issue short-term paper in money market operations November 6 Friday Inflows 1. NT$128.7 billion NCDs/CDs maturing Outflows 1. Central bank expected to issue short-term paper in money market operations November 9 Monday Inflows 1. NT$470.48 billion NCDs/CDs maturing Outflows 1. Central bank expected to issue short-term paper in money market operations 2. Settlement of NT$25 billion worth of 91-day Treasury bills November 10 Tuesday Inflows 1. NT$8.2 billion NCDs/CDs maturing Outflows 1. Central bank expected to issue short-term paper in money market operations November 11 Wednesday Inflows 1. NT$290.7 billion NCDs/CDs maturing Outflows 1. Central bank expected to issue short-term paper in money market operations November 12 Thursday Inflows 1. NT$40.45 billion NCDs/CDs maturing Outflows 1. Central bank expected to issue short-term paper in money market operations November 13 Friday Inflows 1. NT$227.75 billion NCDs/CDs maturing Outflows 1. Central bank expected to issue short-term paper in money market operations November 16 Monday Inflows 1. NT$275.1 billion NCDs/CDs maturing Outflows 1. Central bank expected to issue short-term paper in money market operations November 17 Tuesday Inflows 1. NT$6.05 billion NCDs/CDs maturing Outflows 1. Central bank expected to issue short-term paper in money market operations November 18 Wednesday Inflows 1. NT$246.3 billion NCDs/CDs maturing Outflows 1. Central bank expected to issue short-term paper in money market operations   Sources: Central Bank of China, GreTai Securities, Ministry of Finance, International Bills Finance Corp.   -By Taipei Bureau, Dow Jones Newswires; 8862-2502-2557; djn.taipei@dowjones.com
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November 03, 2009 18:49 ET (23:49 GMT)

DJMN: American Lorain Announces Closing Of $12M Private Placement
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November 03, 2009 18:48 ET (23:48 GMT)

DJMN: 4th UPDATE: House Investor-Protection Bill Faces Key Hurdle
(Adds comments from Finra.)
   By Fawn Johnson    Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)--The House Financial Services Committee will vote Wednesday on a critical amendment to an investor-protection bill that would exempt small and mid-size companies from audits required under the Sarbanes-Oxley corporate-reform law.
The provision, sponsored by Reps. Scott Garrett (R., N.J.) and John Adler (D., N.J.), has the support of the White House.
Committee Chairman Barney Frank (D., Mass.) said White House Chief of Staff Rahm Emanuel negotiated with Adler on behalf of the White House and the Treasury Department to avoid a more damaging amendment that would have exempted firms already covered by Sarbanes-Oxley--those with market capitalization of less than $700 million.
"Mr. Adler was persuaded that it would be better public policy to do a $75 million forever carve-out," Frank told reporters at a press conference. Sarbanes-Oxley requirements already are suspended for those companies, he added.
Small companies claim that internal controls mandated by Sarbanes-Oxley are too onerous for them. But Securities and Exchange Commission Chairman Mary Schapiro wants all companies to start outside audits of their controls beginning next June.
If the amendment becomes law, that won't be possible. But Frank noted that lawmakers could address the exemption in the future. "It is permanent only to the extent that a future Congress could not repeal it," he said.
It isn't clear how the amendment will fare in the committee. Frank and Capital Markets Subcommittee Chairman Paul Kanjorski (D., Pa.) oppose it.
Kanjorski said he hoped the bill won't be "precipitously watered down," but the move to exempt smaller companies signals there could be further efforts like that as the bill moves through Congress. Several Democrats will support the exemption, and the vote will be close, he said.
Kanjorski also said further moves for exemptions could be "extremely dangerous" to the overall effort.
Barbara Roper, investor-protection director for the Consumer Federation of America, sent a letter to the committee Tuesday saying the amendment would eliminate auditing requirements for "roughly half of all public companies with market capitalizations of less than $75 million."
Proponents of the exemption say it doesn't change anything about the current system. The SEC has repeatedly extended the deadline for non-accelerated filers to begin providing audited assessments of their financial reporting internal controls, according to Garrett, "an acknowledgement of continued concern about compliance costs."
The final committee vote on the bill also is slated to take place Wednesday. It would allow the SEC to establish a harmonized fiduciary standard for stockbrokers and advisers who offer financial advice, give the SEC the ability to pay informants who provide key details in enforcement cases and empower the SEC to ban brokers from requiring customers to sign mandatory arbitration clauses.
Also on deck for a committee vote Wednesday is an amendment backed by Rep. Maxine Waters (D., Calif.) ensuring the SEC has the legal authority to impose new proxy-access rules to bolster shareholders' ability to nominate directors to corporate boards. The SEC plans to issue new proxy rules next year, but those rules are almost certain to face a court challenge.
Questions also remain over an amendment hastily approved last week that would permit the SEC to delegate investment-advisor enforcement to self-regulatory bodies like the Financial Industry Regulatory Authority, or Finra.
Kanjorski said lawmakers are discussing ways to tweak that provision, but he didn't elaborate.
A handful of investor-protection advocates sent a letter to the committee Monday on the amendment, sponsored by the committee's ranking member, Spencer Bachus (R., Ala.). The letter said the proposal would make Finra "the main arbiter of how fiduciary duty is applied to conduct by brokers." Signatories included the Consumer Federation of America, the Investment Advisor Association, and Shareowners.org.
The North American Securities Administrators Association sent a separate letter saying regulation should remain a government function.
Finra said the provision would bolster examination of investment advisors. "This part of the bill would simply allow Finra to put more boots on the ground, subject to SEC oversight, for those firms already regulated by FINRA and their associated persons," a Finra spokeswoman said.
According to Finra, only 9% of investment advisor firms are expected to be examined by the SEC next year.

-By Fawn Johnson, Dow Jones Newswires; 202-862-9263;  fawn.johnson@dowjones.com

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(END) Dow Jones Newswires
November 03, 2009 18:45 ET (23:45 GMT)

DJMN: 2nd UPDATE: Westpac Calls Top Of Bad Debt Cycle As Profit Falls
(Adds further management comment, analyst reaction, share price)   By Lyndal McFarland   Of DOW JONES NEWSWIRES
SYDNEY (Dow Jones)--Westpac Banking Corp. (WBK) said Wednesday that its full year earnings were lower on year, weighed down by rising bad debts and other one-time items, but the group expects that bad debts may be at their peak.
Rising bad debt charges have been one of the only major areas of weakness for Australia's big banks as they avoided the worst of the global financial crisis, weighing on profitability.
But all four of the nation's big banks--Westpac, Commonwealth Bank of Australia (CBA.AU), National Australia Bank Ltd. (NAB) and Australia and New Zealand Banking Group Ltd. (ANZBY)--are boosting market share and improving margins as they capitalize on weaker competition.
Westpac--Australia's second-largest lender by market capitalization and the 15th biggest in the world--said net profit for the year ended Sept. 30 fell to A$3.45 billion from A$3.86 billion a year earlier. The prior year's results didn't include St. George, which it acquired on Nov. 17, 2008.
The bank's impairment charges rose to A$3.24 billion from A$931 million a year earlier, with second half charges coming in at A$1.68 billion.
"We think that the position in the credit cycle is stabilizing and therefore we are around the top of this credit impairment position," the group's chief financial officer, Phil Coffey, told reporters,
"That's not to say that we're not going to see ongoing business stress, particularly in what we call the commercial segments--so smaller businesses who have got facilities between A$10 million and A$100 million and that's the area that is probably most feeling tight cash flows and subdued activity."
Westpac's second half net profit fell to A$1.27 billion from A$2.18 billion in the first half, dragged lower by a A$703 million provision for a New Zealand tax ruling, which the bank said Tuesday it will appeal.
On a proforma basis, which assumes Westpac held St George for all of the fiscal year, the group's closely-watched cash profit fell 8% to A$4.63 billion from A$5.05 billion. The proforma cash result, which strips out volatile items, was ahead of the A$4.55 billion consensus market forecast, Westpac said.
"Westpac has delivered a sound financial result during a tumultuous year," said chief executive Gail Kelly.
In line with sector trends, the group's revenue surged 42% on year to A$16.5 billion from A$11.6 billion the prior year, boosted by the St. George acquisition and a strong performance by its treasury and markets business.
Its net interest margin, on a pro forma basis, improved by 30 basis points on year to 2.32%.
The group declared a stronger than anticipated final dividend of 60 cents a share, down from 72 cents a year earlier but up from Westpac's 56 cent interim dividend.
Westpac shares rose on the back of the result. At 2330 GMT, Westpac was up 1.1% at A$25.70.
Southern Cross Equities analyst TS Lim said that the improved dividend was a good sign for investors, and the  result was strong on most measures, with the performance of the group's Australian division a standout.
On a cash basis, Westpac's retail and business banking arm recorded a 9% improvement in earnings to A$1.9 billion, boosted by a 19% increase in mortgage lending.
Earnings at its institutional arm fell 58% to A$361 million, dragged down by higher impairment charges, while earnings at St. George were down 5% on year. But the group is ahead of schedule in realizing synergies from its merger with St. George.
Its BT Financial Group arm recorded a 8% decline in cash earnings.
Like its rivals, Westpac's New Zealand business suffered from a sharp rise in impairment charges amid weak economic conditions. Earnings at the division fell 50% on year to NZ$236 million.
Southern Cross's Lim said that Westpac's outlook remains fairly solid.
"Overall, they've got multiple value levers going forward. They've got very good scale in Australia, the St. George synergies will increase the bottom line, and they have lots of flexibility," he said.
Looking ahead, Westpac said it doesn't expect to replicate in 2010 revenue earned in 2009 in its Treasury and markets operations. It expects credit growth to be above overall system credit growth, which it said should remain low.
On expenses, merger synergies from St. George should be "more prominent", while information technology expenses are set to rise.

-By Lyndal McFarland, Dow Jones Newswires;
61-3-9292-2093; lyndal.mcfarland@dowjones.com
(Ross Kelly contributed to this article)

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November 03, 2009 18:43 ET (23:43 GMT)

DJMN: Singapore Oct Electronics PMI 49.6 Vs 52.4 In Sep
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:42 ET (23:42 GMT)

DJMN: Toyota To Up Annual Sales Target To 7M Vehicles - NHK
TOKYO (Dow Jones)--Toyota Motor Corp. (7203.TO) is set to raise its global sales target for this fiscal year to 7 million vehicles from 6.5 million vehicles thanks to strong demand for its lineup of fuel-efficient cars, NHK reported Wednesday.
In a separate report, the Yomiuri Shimbun also said the Japanese auto maker plans to lift its global production for fiscal 2009 to about 7 million vehicles.
Toyota is scheduled to report its earnings for the fiscal first half Thursday.

-Tokyo Bureau, Dow Jones Newswires; 813-6895-7550

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November 03, 2009 18:42 ET (23:42 GMT)

DJMN: US Lawmakers Eye Health Bill To Shut Down Tax Break For Paper Cos
By Martin Vaughan   Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)--House lawmakers may have found an additional $24 billion to help offset the cost of their health-care bill, by blocking pulp and paper makers from using a tax credit for biofuels.
Legislation introduced this week by Rep. Chris Van Hollen, (D., Md.), would prevent such companies as International Paper Co. (IP) and Weyerhaeuser Co. (WY) from claiming a $1.01-per-gallon tax credit for the production of cellulosic biofuels.
Members of the tax-writing Ways and Means Committee are discussing whether to add the biofuels provision to health-care legislation that House leaders want to have a vote on by mid-next week, said Matthew Beck, a committee spokesman.
Paper companies already reaped billions in federal payments this year by claiming an alternative fuels credit for recycling black liquor, a by-product of the paper-making process.
The alternative fuels credit expires at the end of this year, and lawmakers have vowed to ensure that if it is renewed, it will be narrowed so that black liquor is not eligible.
But paper companies have been eyeing a separate credit, for biofuels made from cellulosic feedstocks, that industry analysts have said could yield billions over the next several years.
The provision from Van Hollen would disqualify biofuels that contained certain amounts of water and ash, designed to prevent biofuels from the pulp and paper industry from being eligible.

-By Martin Vaughan, Dow Jones Newswires; 202-862-9244; martin.vaughan@dowjones.com

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(END) Dow Jones Newswires
November 03, 2009 18:42 ET (23:42 GMT)

DJMN: Singapore Oct Purchasing Managers Index 50.2 Vs 50.6 In Sep
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:42 ET (23:42 GMT)

DJMN: Sime Darby To Finish Groundwater Infrastructure By End '12-Report
KUALA LUMPUR (Dow Jones)--Sime Darby Bhd. (4197.KU), the world's biggest listed plantation firm by hectarage, aims to complete the infrastructure for its groundwater project in Malaysia's Perak state by end-2012 and supply 500 million liters of water to Selangor by Jan. 1, 2013, the Edge Financial Daily reported Wednesday.
Citing Sime's head of water management, Azuhan Mohamed, the daily said tender for the project is expected to place in January 2010. South Korean firm Dajoo Construction Ltd., with more than 30 years experience in groundwater technology, is one of the potential bidders.
According to the daily, Sime is currently also undertaking a similar groundwater project in Labuan.

Newspaper Web site: http://www.theedgedaily.com.my

-By Kuala Lumpur Bureau, Dow Jones Newswires; 603-2026-1233; djnews.kl@dowjones.com

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(END) Dow Jones Newswires
November 03, 2009 18:40 ET (23:40 GMT)

DJMN: UPDATE: Admin Official: Need Quick Action On Fincl Regulation
(Updates with additional details, comments from Rep. Frank, congressional progress.)
  By Michael R. Crittenden   Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)--The Obama administration and congressional Democrats are pushing forward with efforts to overhaul regulation of financial markets, though significant questions remain about how the largest firms will be kept from the excesses at the heart of the financial crisis.
An administration official said Tuesday evening that Congress needs to move quickly to enact changes before attention on the need for financial regulatory changes wanes and the process becomes bogged down by the political realities of an election year.
U.S. House and Senate lawmakers are pushing forward with their efforts. House Financial Services Chairman Barney Frank (D-Mass.) told reporters that he hopes for the House to vote on wholesale regulatory changes as soon as the first week of December, and said he does not expect to have major differences with a parallel set of proposals being drafted in the Senate.
Lawmakers will enact reforms that address the weaknesses exposed last year on multiple fronts, Frank said.
"We are beyond the days of the breech-loading musket. This is the automatic rifle, the machine gun," said Frank, whose panel will take up a key measure Wednesday that deals with how the government handles the largest and most risky financial firms.
Those efforts are being matched behind the scenes in the Senate, where Sen. Christopher Dodd (D-Conn.) may be ready to circulate as early next week a draft of his proposals. Dodd is prepared to proceed with the legislation even if it does not garner any Republican support, according to people familiar with the matter, which could allow Democrats to avoid GOP attempts to water down the proposal.
The administration official acknowledged that a number of differences currently exist between the measures being considered by Congress and the proposals circulated by the White House and the Treasury Department. But the core principles being considered - giving federal regulators the tools necessary to deal with future financial panics effectively, and expanding protections for consumers - are not in question, the official said, and the parties are generally in harmony.
The official, who has been briefed on Dodd's legislation, said initial reaction to the Senate measure within the administration has been positive. Still, the administration expects both the House and Senate proposals to go through a number of iterations before they are enacted, with the current drafts acting as frameworks for a more defined product.
One area where there doesn't appear to be room for negotiation is on the administration's proposal to create an agency to regulate the financial products available to consumers. Republicans, and some Democrats, have said they are wary of such an agency, but the official said the administration wouldn't accept a weak or watered-down version of its proposal. Changes already made by the House Financial Services Committee, including an exemption for some smaller banks, are workable, the official said.
A number of other issues also need to be worked out, including how to deal with the cost of having a big financial institution fail, and how to eliminate the hazard of the government condoning "too big to fail" institutions.
Both Frank and the administration official made clear that policy makers do not want to provide aid to struggling firms as they did to the tune of billions of dollars during last year's crisis. Though Frank and the Treasury Department are at odds over when money will be recouped from industry participants to cover a large failure, financial firms will be on the hook.
"There will be no aid to any institution. Aid to the institution will be the equivalent of the last meal," Frank said.
A key sticking point could be congressional attempts to tie the hands of the Federal Reserve, which has been criticized on Capitol Hill for aggressively using its emergency powers last year to lend billions to financial firms. Frank said lawmakers plan to restrict the central bank's ability to lend to specific institutions, instead favoring a lending facility funded by the Fed that would be available to solvent institutions.
"No more Fed to AIG, no more Fed to Bear Stearns," Frank said, referring to the specific loans made to American International Group Inc. (AIG) and Bear Stearns Cos. last year.
But the official said the administration is worried that restrictions on the Fed's emergency powers could go too far because of lingering congressional anger. Officials need to the tools to address systemic problems effectively, the official said, but with the appropriate limits so those authorities are not used indiscriminately.

- By Michael R. Crittenden, Dow Jones Newswires; 202 862 9273; michael.crittenden@dowjones.com

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(END) Dow Jones Newswires
November 03, 2009 18:40 ET (23:40 GMT)

DJMN: Asia-Pacific Political, Economic Calendar - Month -5-
1330/0630/0130  INA  Oct     Trade Balance 1400/0700/0200  THA  Nov     CPI                                On Year                                    +0.4% 1630/0830/0330  HK   Oct     Retail Sales     N/A        HK           Auction of 182-day Exchange Fund bills worth HK3B     N/A        HK           Auction of 91-day Exchange Fund bills worth                             HK16.22B     N/A        PHI          Asian Development Bank - Asian Development Bank                             publishes its Asia Economic Monitor this month     N/A        PHI          Auction of 10-yr Government treasury bonds worth                             PHP6.5B Wednesday, December 2, 2009                                     Exp        Prev Local/GMT/ET 0850/2350/1850  JPN  Nov     Monetary base 1400/0700/0200  THA          Bank of Thailand - Bank of Thailand Monetary                             Policy Committee meeting 2130/1330/0830  SIN  Nov     Singapore Purchasing Managers' Index (PMI) Thursday, December 3, 2009                                      Exp        Prev Local/GMT/ET 0001/1601/1101  HK   Nov     Hong Kong Composite PMI 0600/2100/1600  SKA  Nov     International Reserves 0930/2230/1730  AUS  Nov     Australian PSI 0815/2315/1815  JPN  Nov     Japan Services PMI 0850/2350/1850  JPN  Q3      Quarterly Financial Statements Statistics of                             Corporations 1130/0030/1930  AUS  Oct     Retail Trade 1200/0100/2000  AUS  Nov     VFACTS vehicle sales 1100/0200/2100  JPN  Nov     Imported Vehicle Sales 1500/0200/2100  NZ           Auction of Government treasury bonds 1030/0230/2130  CHN  Nov     China Services PMI 1030/0500/0000  IND  Nov     India Services PMI 1330/0630/0130  INA  Dec     Bank Indonesia - Bank Indonesia Board of                             Governors meeting & decision 1200/0630/0130  IND          Weekly WPI     N/A        INA  Nov     International Reserves     N/A        PHI          Bangko Sentral ng Pilipinas - Philippine Monetary                             Policy meeting highlights IND: India, INA: Indonesia
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(END) Dow Jones Newswires
November 03, 2009 18:40 ET (23:40 GMT)

DJMN: Asia-Pacific Political, Economic Calendar - Month -4-
KRW800B     N/A        THA          Auction of 28-day Government Treasury bills worth                             THB2B     N/A        THA          Auction of 91-day Government Treasury bills worth                             THB3B     N/A        THA          Auction of 182-day Government Treasury bills                             worth THB2B     N/A        VIE  Nov     Trade Balance                                Trade deficit (US dollars)                 1.9B     N/A        VIE  Nov     CPI                                On Month                                   +0.62%                                On Year                                    +2.42% Tuesday, November 24, 2009                                      Exp        Prev Local/GMT/ET 1400/0500/0000  JPN  Oct     Supermarket sales 1400/0500/0000  JPN  Nov     Bank of Japan - Bank of Japan Monthly Report                             released 1800/1000/0500  MAL          Bank Negara Malaysia - Malaysia Monetary Policy                             Committee Meeting & Statement     N/A        HK   Oct     Tourism figures                                Vistor arrivals (on year)                  +2.5%     N/A        HK           Auction of 91-day Exchange Fund bills worth                             HK19.88B     N/A        VIE  Nov     Industrial Output                                On Year                                    +11.9% Wednesday, November 25, 2009                                    Exp        Prev Local/GMT/ET 0600/2100/1600  SKA  Nov     Business Survey Index 0850/2350/1850  JPN  Oct     Provisional Trade Statistics for the Month                                Trade Balance (value in yen)               520.6B 0850/2350/1850  JPN  Oct     Corporate Service Price Index                                On Year                                    -3.2% 1100/0000/1900  AUS  Nov     Skilled Vacancies Index                                On Month                                   +1.9% 1130/0030/1930  AUS  Q3      Construction Work Done 0900/0100/2000  PHI  Sep     External Trade Performance                                On Month                                   -10%                                On Year                                    -28% 1620/0820/0320  TAI  Oct     Money Supply                                M2 (on year)                               +8.28% 1800/1000/0500  MAL  Q3      GDP                                On Quarter                                 +4.8                                On Year                                    -3.9% 1830/1030/0530  MAL  Oct     Money Supply     N/A        JPN          Auction of 2-yr Government treasury bonds worth                             Y2.4T     N/A        THA          Auction of 10.05-yr Government Treasury bonds                             worth THB8B Thursday, November 26, 2009                                     Exp        Prev Local/GMT/ET 0800/2300/1800  SKA  Oct     Balance of payments                                Current Account (KRW)                      3.66B 0850/2350/1850  JPN  Oct     Bank of Japan - Bank of Japan Monetary Policy                             Meeting Minutes 1130/0030/1930  AUS  Q3      Private New Capital Expenditure & Expected                             Expenditure 1500/0200/2100  NZ           Auction of Government treasury bonds 1500/0200/2100  NZ   Nov     NBNZ Business Outlook                                NZ Business Confidence                     48.2% 1000/0200/2100  PHI  Q3      GDP                                On Quarter                                 +2.4%                                On Year                                    +1.5% 1300/0500/0000  SIN  Oct     Industrial Production Index                                On Year                                    -7.7%                                On Month                                   -9.1% 1200/0630/0130  IND          Weekly WPI 1630/0830/0330  HK   Oct     External Merchandise Trade Friday, November 27, 2009                                       Exp        Prev Local/GMT/ET 1045/2145/1645  NZ   Oct     Overseas Merchandise Trade                                Exports (On Year)                          -10.9%                                Imports (On Year)                          -26.6%                                Trade Balance                              -424M 0830/2330/1830  JPN  Oct     CPI (Nation), CPI ex-food (Nation)                                Japan Core CPI (on year)                   -2.3%                                Japan Overall CPI (on year)                -2.2%                                Japan Overall CPI (on month)               0% 0830/2330/1830  JPN  Nov     CPI (Tokyo), CPI ex-Food (Tokyo)                                Tokyo Core CPI (on year)                   -2.2%                                Tokyo Overall CPI (on year)                -2.4%                                Tokyo Overall CPI (on month)               -0.4% 0830/2330/1830  JPN  Oct     Household Spending                                All Household Spending (on                                year)                                      +1% 0830/2330/1830  JPN  Oct     Labour Force Survey 0850/2350/1850  JPN  Nov     Provisional Trade Statistics for 1st 10 days of                             Month 0850/2350/1850  JPN  Oct     Preliminary Retail Sales                                Overall Retail Sales (on year)             -1.4% 0930/0030/1930  JPN  Oct     Detailed Import & Export Statistics 1200/0300/2200  SKA  Oct     New deposit, loan rates 1430/0730/0230  THA          Weekly International Reserves 1600/0800/0300  TAI  Oct     Business Indicators                                Leading indicator (on mo)                  +1.7%                                Coincident Indicator                       96.6 1700/0900/0400  TAI  Q3      GDP                                On Year                                    -7.54% 1700/1130/0630  IND          Weekly foreign exchange reserves     N/A        HK           Auction of 86-day Exchange Fund bills worth                             HK600M Monday, November 30, 2009                                       Exp        Prev Local/GMT/ET 1045/2145/1645  NZ   Oct     Building Consents Issued                                On Month                                   +3.3% 1045/2145/1645  NZ   Oct     International Visitor Arrivals 0815/2315/1815  JPN  Nov     Japan Manufacturing PMI 0850/2350/1850  JPN  Oct     Preliminary Industrial Production                                Industrial Output (on month)               +1.4% 1100/0000/1900  AUS  Nov     TD Securities Monthly Inflation Gauge 1130/0030/1930  AUS  Q3      Business Indicators 1130/0030/1930  AUS  Oct     Financial Aggregates, incl Private Sector Credit 1000/0200/2100  SIN  Oct     Money Supply                                M1 (in Singapore dollars)                  91.19B 1000/0200/2100  SIN  Oct     Bank Loans                                Total Loans and advances  (S$)             275.89B 1300/0400/2300  JPN  Oct     Auto production                                Auto Production (on year)                  -21.6% 1300/0400/2300  JPN  Oct     Auto exports                                Auto Exports (on year)                     -35.7% 1330/0430/2330  JPN  Oct     Preliminary Report on Petroleum Statistics                                On Year                                    -1% 1330/0430/2330  SKA  Oct     Industrial Production Index                                On Month                                   +5.4%                                On Year                                    +11% 1330/0430/2330  SKA  Oct     Service Industry Activity Index 1400/0500/0000  JPN  Oct     Housing Starts                                On Year                                    -37% 1400/0500/0000  JPN  Oct     Construction Orders                                On Year                                    -14% 1630/0530/0030  AUS  Oct     International Reserves & Foreign Currency                             Liquidity 1200/0630/0130  IND  Q2      GDP (Year ended March 31)                                On Year                                    +6.1% 1615/0815/0315  HK   Oct     Money Supply     N/A        IND  Oct     CPI IW (Industrial Workers)     N/A        JPN  Oct     Provisional Labour Survey - Earnings, Employment                             & Hours Worked                                Survey result                              5.3%     N/A        SRI  Nov     Colombo CPI     N/A        MAL  Oct     PPI     N/A        THA  Oct     Trade statistics Tuesday, December 1, 2009                                       Exp        Prev Local/GMT/ET 0930/2230/1730  AUS  Nov     Australian PMI                                PMI                                        51.7 1130/0030/1930  AUS  Oct     Building Approvals 0900/0100/2000  CHN  Nov     CFLP China Manufacturing Purchasing Managers'                             Index (PMI) 1000/0100/2000  SKA  Nov     South Korea Manufacturing PMI 1000/0100/2000  SKA  Nov     Trade data 1000/0200/2100  TAI  Nov     Taiwan Manufacturing PMI 1030/0230/2130  CHN  Nov     HSBC China Manufacturing PMI 1430/0330/2230  AUS  Dec     Reserve Bank of Australia - Australian cash rate                             decision 1330/0430/2330  SKA  Nov     CPI 1030/0500/0000  IND  Nov     India Manufacturing PMI 1400/0500/0000  JPN  Oct     Steel Imports & Exports Statistics 1415/0515/0015  JPN  Nov     Auto sales 1630/0530/0030  AUS  Nov     Commodity Price Index 1330/0630/0130  INA  Nov     CPI
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(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:40 ET (23:40 GMT)

DJMN: Asia-Pacific Political, Economic Calendar - Month -3-
1300/0500/0000  SIN  Sep     Retail Sales                                On Month                                   -5.2% 1430/0730/0230  THA          Weekly International Reserves 1630/0830/0330  HK   Q3      GDP                                On Quarter                                 +3.3%                                On Year                                    -3.8% 1700/1130/0630  IND          Weekly foreign exchange reserves     N/A        HK           Auction of 2-yr Exchange Fund notes worth HK1.2B     N/A        JPN          U.S. President - Obama continues Asia tour in                             Japan and Singapore     N/A        NZ   Oct     Residential Market Report     N/A        NZ   Oct     REINZ Monthly Housing Price Index Saturday, November 14, 2009                                     Exp        Prev Local/GMT/ET     N/A        SIN          Asia-Pacific Economic Cooperation - U.S.                             President Obama attends APEC Economic Leaders'                             Meeting in Singapore Sunday, November 15, 2009                                       Exp        Prev Local/GMT/ET     N/A        CHN          U.S. President - Obama arrives in China     N/A        SIN          Asia-Pacific Economic Cooperation - U.S.                             President Obama attends APEC Economic Leaders'                             Meeting in Singapore, day 2 Monday, November 16, 2009                                       Exp        Prev Local/GMT/ET 0600/2100/1600  SKA  Oct     Department store sales                                On Year                                    +8.6% 1045/2145/1645  NZ   Q3      Capital Goods Price Index 1045/2145/1645  NZ   Q3      PPI                                Input PPI                                  0%                                Output PPI                                 -0.7% 0850/2350/1850  JPN  Q3      1st Preliminary Quarterly GDP Estimates 1330/0630/0130  INA  Q3      GDP                                On Quarter                                 +2.3%                                On Year                                    +4% 1600/0800/0300  HK   Oct     Hong Kong port container throughput monthly                             estimates     N/A        CHN          U.S. President - Obama in China as Asia tour                             continues     N/A        JPN          Paris Europlace - Bank of Japan Governor at Paris                             EUROPLACE International Financial Forum     N/A        SKA          Auction of 10-yr Government Treasury bonds worth                             KRW1.4Tln     N/A        THA          Auction of 91-day Government Treasury bills worth                             THB4B     N/A        THA          Auction of 28-day Government Treasury bills worth                             THB2B     N/A        THA          Auction of 182-day Government Treasury bills                             worth THB4B Tuesday, November 17, 2009                                      Exp        Prev Local/GMT/ET 0850/2350/1850  JPN  Sep     Tertiary Industry Index                                Tertiary Industry Activity (on                                month)                                     +0.3% 1130/0030/1930  AUS  Nov     Reserve Bank of Australia - Reserve Bank Board                             Monetary Policy Meeting Minutes 1300/0500/0000  SIN  Oct     Merchandise Trade                                On Year                                    -7.2% 1430/0530/0030  JPN  Oct     Tokyo area department store sales 1430/0530/0030  JPN  Oct     Nationwide department store sales 1500/0600/0100  JPN  Oct     Revised Machine Tool Orders                                On Year                                    -62.1% 1630/0830/0330  HK   Oct     Underemployment 1630/0830/0330  HK   Oct     Unemployment                                Jobless rate                               5.3%     N/A        CHN          U.S. President - Obama in China as Asia tour                             continues     N/A        CHN  Oct     FDI Foreign Direct Investment     N/A        HK           Auction of 91-day Exchange Fund bills worth                             HK18.71B     N/A        HK           Auction of 182-day Exchange Fund bills worth HK3B     N/A        HK           Auction of 33-day Exchange Fund bills worth                             HK400M     N/A        PHI          Auction of 7-yr Government treasury bonds worth                             PHP6.5B     N/A        SKA          OECD - Korean G-20 Leadership 2010 seminar                             attended by OECD Sec-Gen     N/A        TAI          Auction of 20-yr Government treasury bills worth                             of NT$30B Wednesday, November 18, 2009                                    Exp        Prev Local/GMT/ET 1100/0000/1900  AUS  Sep     Westpac-Melbourne Institute Indexes of Economic                             Activity 1130/0030/1930  AUS  Oct     International Merchandise Imports 1130/0030/1930  AUS  Q3      Labour Price Index                                Wage Price Index  (WPI) QoQ                +0.8%                                Wage Price Index  (WPI) YoY                +3.8% 0730/0200/2100  SRI  Nov     Central Bank of Sri Lanka - Central Bank of Sri                             Lanka Monetary Policy Review announcement 1200/0300/2200  SKA  Oct     Corporate Bankruptcies 1700/0900/0400  MAL  Oct     CPI                                On Month                                   +0.3%                                On Year                                    -2%     N/A        CHN          U.S. President - Obama continues Asia tour in                             China and South Korea     N/A        JPN  Sep     Final Labour Survey - Earnings, Employment &                             Hours Worked     N/A        THA          Auction of 19.60-yr Government Treasury bonds                             worth THB7B     N/A        THA          Auction of 7-yr Government Treasury bonds worth                             THB8B Thursday, November 19, 2009                                     Exp        Prev Local/GMT/ET 1045/2145/1645  NZ   Annual  National Accounts: Year ended March 2009 1130/0030/1930  AUS  Nov     RBA Bulletin 1500/0200/2100  NZ           Auction of Government treasury bonds 1330/0430/2330  JPN  Sep     All Industry Index                                All Industry Activity Index                                (on month)                                 +0.9% 1400/0500/0000  JPN  Oct     Steel Production 1400/0500/0000  JPN  Sep     Indexes of Business Conditions - Revision 1200/0630/0130  IND          Weekly WPI     N/A        JPN  Nov     Bank of Japan - Bank of Japan Monetary Policy                             meeting     N/A        JPN          Auction of 20-yr Government treasury bonds worth                             Y1.1T     N/A        SKA          U.S. President - Obama finishes Asia tour in                             South Korea Friday, November 20, 2009                                       Exp        Prev Local/GMT/ET 1500/0200/2100  NZ   Oct     Credit card statistics 1530/0630/0130  JPN  Nov     Bank of Japan - Bank of Japan governor press                             conference 1430/0730/0230  THA          Weekly International Reserves 1620/0820/0320  TAI  Q3      Balance of Payments                                Current account (US dollars)               11.82B 1630/0830/0330  HK   Oct     CPI                                On Year                                    +0.5% 1700/0900/0400  MAL  Nov     International Reserves, middle of month 1700/1130/0630  IND          Weekly foreign exchange reserves     N/A        IND  Oct     CPI UNME (Urban non-manual employees)     N/A        IND  Oct     CPI AL/RL (Agricultural/Rural Labourers)     N/A        JPN  Nov     Bank of Japan - Japan Monetary Policy Meeting                             decision     N/A        JPN  Nov     Monthly Economic Report     N/A        TAI          Auction of 273-day Government treasury bills                             worth of NT$20B Monday, November 23, 2009                                       Exp        Prev Local/GMT/ET 1045/2145/1645  NZ   Oct     International Travel and Migration                                Net migration                              1800 1130/0030/1930  AUS  Oct     New Motor Vehicle Sales 0930/0230/2130  THA  Q3      GDP                                On Quarter                                 +2.3%                                On Year                                    -4.9% 1300/0500/0000  SIN  Oct     CPI                                On Year                                    -0.4% 1600/0800/0300  TAI  Oct     Employment / Unemployment 1600/0800/0300  TAI  Oct     Industrial output                                On Year                                    +1.01% 1600/0800/0300  TAI  Oct     Export Orders                                On Year                                    -3%     N/A        PHI          Auction of 182-day Government treasury bills                             worth PHP2B     N/A        PHI          Auction of 364-day Government treasury bills                             worth PHP3.5B     N/A        PHI          Auction of 91-day Government treasury bills worth                             PHP1B     N/A        SIN          Monetary Authority of Singapore - Monetary                             Authority of Singapore's Financial Stability                             Review     N/A        SKA          Auction of 20-yr Government Treasury bonds worth
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(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:40 ET (23:40 GMT)

DJMN: Asia-Pacific Political, Economic Calendar - Month -2-
On Year                                    +10.12%     N/A        PHI          Auction of 91-day Government treasury bills worth                             PHP1B     N/A        PHI          Auction of 182-day Government treasury bills                             worth PHP2B     N/A        PHI          Auction of 364-day Government treasury bills                             worth PHP3.5B     N/A        SIN          Asia-Pacific Economic Cooperation - ABAC APEC                             Business Advisory Council Meeting     N/A        SKA          Auction of 5-yr Government Treasury bonds worth                             KRW1.93Tln     N/A        THA          Auction of 28-day Government Treasury bills worth                             THB2B     N/A        THA          Auction of 91-day Government Treasury bills worth                             THB4B     N/A        THA          Auction of 182-day Government Treasury bills                             worth THB4B Tuesday, November 10, 2009                                      Exp        Prev Local/GMT/ET 1045/2145/1645  NZ   Oct     Electronic Card Transactions 0850/2350/1850  JPN  Oct     Money Stock, Broadly-defined Liquidity                                M2 (Money Stock)                           +3% 0850/2350/1850  JPN  Oct     Bank Lending                                Bank Lending (on year)                     +1.7% 0850/2350/1850  JPN  Sep     Balance of Payments                                Current Account Balance (value                                in yen)                                    1.17T 0850/2350/1850  JPN  Oct     International Transactions in Securities 0850/2350/1850  JPN  Oct     Provisional Trade Statistics for 1st 20 days of                             Month 0000/1600/1100  MAL  Sep     Industrial Production Index                                On Month                                   -1.1%                                On Year                                    -5.7% 1130/0030/1930  AUS  Oct     NAB Business Survey                                Business confidence  (pts)                 +14                                Business conditions  (pts)                 +3 0900/0100/2000  PHI  Sep     Merchandise Export Performance                                On Year                                    -21% 1200/0300/2200  SKA  Oct     PPI                                On Month                                   +0.1%                                On Year                                    -2.6% 1200/0400/2300  MAL  Sep     Manufacturing sales                                On Month                                   -0.6%                                On Year                                    -20.1% 1330/0430/2330  JPN  Oct     Corporate Insolvencies                                On Year                                    -15.7% 1400/0500/0000  JPN  Oct     Economy Watchers Survey 1500/0600/0100  JPN  Oct     Preliminary Machine Tool Orders                                On Year                                    -61.9% 1630/0830/0330  HK   Sep     External Merchandise Trade: Volume & Price                             Statistics     N/A        HK           Auction of 91-day Exchange Fund bills worth                             HK19.34B     N/A        IND          World Economic Forum - World Economic Forum's                             India Economic Summit, final day     N/A        JPN          Auction of 40-yr Government treasury bonds worth                             Y300B     N/A        PAK  Oct     External Trade                                Exports (on year)                          -14%                                Imports (on year)                          -30%                                Trade balance (US dollars)                 -3.09B Wednesday, November 11, 2009                                    Exp        Prev Local/GMT/ET 1045/2145/1645  NZ   Oct     Food Price Index                                On Month                                   -0.9% 1045/2145/1645  NZ   Sep     Accommodation Survey                                On Year                                    -3% 1030/2330/1830  AUS  Nov     Westpac - Melbourne Institute Consumer Sentiment                             Survey                                MoM % Change                               +1.7% 0850/2350/1850  JPN  Sep     Orders Received for Machinery                                Core Machinery Orders (on                                month)                                     +0.5% 1130/0030/1930  AUS  Sep     Lending Finance 1000/0200/2100  CHN  Oct     Fixed Assets Investment                                On Year                                    +33.3% 1000/0200/2100  CHN  Oct     Industrial Output                                On Year                                    +13.9% 1000/0200/2100  CHN  Oct     Retail sales                                On Year                                    +15.5% 1000/0200/2100  CHN  Oct     CPI                                On Year                                    -0.8% 1000/0200/2100  CHN  Oct     PPI                                On Year                                    -7% 1100/0200/2100  JPN  Oct     Electric Power Output                                On Year                                    -9% 1400/0300/2200  AUS  Nov     DEEWR Leading Indicator of Employment 1200/0400/2300  CHN  Oct     Trade                                Exports (on year)                          -15.2%                                Imports (on year)                          -3.5%                                Trade balance (US dollars)                 12.93B 1330/0430/2330  SKA  Oct     Economically Active Population Survey, incl                             Unemployment                                Jobless rate                               3.6%     N/A        CHN  Oct     Broad Money M2                                On Year                                    +29.31%     N/A        HK           Auction of 364-day Exchange Fund bills worth                             HK1.3B     N/A        SIN          Asia-Pacific Economic Cooperation - APEC                             Ministerial Meeting     N/A        SIN          Asia-Pacific Economic Cooperation - Deputies'                             Meeting for APEC Finance Ministers' Meeting     N/A        THA          Auction of 5.60-yr Government Treasury bonds                             worth THB10B Thursday, November 12, 2009                                     Exp        Prev Local/GMT/ET 1045/2145/1645  NZ   Q3      Retail Trade Survey                                Monthly Real Retail Sales                  +0.1%                                Quarterly Real Retail Sales                +1.1%                                Retail Sales Ex-Autos (SA)                 -0.4%                                Real Retail Sales (SA)                     +0.4% 0850/2350/1850  JPN  Oct     Corporate Goods Price Index                                Domestic CGPI (on year)                    -7.9% 1100/0000/1900  AUS  Nov     Consumer Inflationary Expectations Survey 1130/0030/1930  AUS  Oct     Unemployment                                Unemployment Rate (Seasonally                                Adj)                                       5.7% 1130/0030/1930  AUS  Oct     Employment                                Employment (Seasonally Adj)                +40600                                Full time Employment                                (Seasonally Adj.)                          +35400                                Participation Rate (Seasonally                                Adj.)                                      65.2% 1030/0130/2030  SKA  Nov     Bank of Korea - Bank of Korea Monetary Policy                             Committee meeting & decision 1500/0200/2100  NZ           Auction of Government treasury bonds 1200/0630/0130  IND          Weekly WPI 1200/0630/0130  IND  Sep     IIP Index of Industrial Production                                On Year                                    +10.4%     N/A        JPN          U.S. President - Obama arrives in Japan for first                             leg of Asia tour     N/A        JPN          Auction of 5-yr Government treasury bonds worth                             Y2.3T     N/A        SIN          Asia-Pacific Economic Cooperation - APEC Finance                             Ministers' Meeting in Singapore     N/A        SIN          Asia-Pacific Economic Cooperation - APEC CEO                             Summit Friday, November 13, 2009                                       Exp        Prev Local/GMT/ET 0600/2100/1600  SKA  Q3      Net barter terms of trade 1500/0200/2100  NZ   Oct     NZ Government bonds held for non-residents 1200/0300/2200  SKA  Oct     Import price index                                On Month                                   -1.9%                                On Year                                    -10.8% 1200/0300/2200  SKA  Oct     Export price index                                On Month                                   -1.8%                                On Year                                    -7.2% 1330/0430/2330  JPN  Sep     Revised Industrial Production                                Revised Industrial Output (on                                month)                                     +1.6% 1330/0430/2330  JPN  Sep     Revised Retail Sales 1400/0500/0000  JPN  Oct     Consumer Confidence Survey                                On Year                                    40.5
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(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:40 ET (23:40 GMT)

DJMN: Asia-Pacific Political, Economic Calendar - Month Ahead
Wednesday, November 4, 2009                                     Exp        Prev Local/GMT/ET 0001/1601/1101  HK   Oct     Hong Kong Composite PMI 0930/2230/1730  AUS  Oct     Australian PSI                                PSI                                        49.3 0815/2315/1815  JPN  Oct     Japan Services PMI 0850/2350/1850  JPN  Oct     Monetary base 1130/0030/1930  AUS  Sep     Building Approvals                                Private Sector Building                                Approvals                                  +3.1%                                Residential Building Approvals                                (MoM)                           +2%        -0.1%                                Residential Building Approvals                                (YoY)                                      0%                                Private Sector Building                                Approvals (MoM)                            +32.6% 1130/0030/1930  AUS  Sep     Retail Trade                                Retail Sales (Seasonally Adj.)  +0.4%      +0.9% 1200/0100/2000  AUS  Oct     VFACTS vehicle sales                                On Month                                   +4.9% 1030/0230/2130  CHN  Oct     China Services PMI 1200/0400/2300  CHN          World Bank - World Bank launches East Asia &                             Pacific Update 1030/0500/0000  IND  Oct     India Services PMI 1330/0630/0130  INA  Nov     Bank Indonesia - Bank Indonesia Board of                             Governors meeting & decision 1230/0700/0200  IND          Auction of 91-day Government Treasury bills worth                             INR70B 1230/0700/0200  IND          Auction of 364-day Government Treasury bills                             worth INR20B 1801/1001/0501  MAL  Sep     External Trade                                Exports (on year)               -20.5%     -19.8%                                Imports (on year)               -17.1%     -18.6%                                Trade Balance (MYR)             10B        8B     N/A        AUS          Auction of April 2020 Government Bond worth                             A$500M     N/A        INA  Oct     International Reserves     N/A        JPN          Bank of Japan - Bank of Japan Governor Masaaki                             Shirakawa speech at the the Kisaragi-kai meeting     N/A        SKA          Office of the U.S. Trade Representative -                             Anti-Counterfeiting Trade Agreement negotiations                             commence     N/A        SKA          Economist Conferences - Business Roundtable with                             the Government of South Korea Thursday, November 5, 2009                                      Exp        Prev Local/GMT/ET 1045/2145/1645  NZ   Q3      Household Labour Force Survey                                Employment (Seasonally Adj)                                QoQ Percent Change                         -0.4%                                Employment (Seasonally Adj)                                YoY Percent Change                         -0.9%                                Participant Rate  (Seasonally                                Adj) QoQ Pct Chg                           68.4%                                Unemployment Rate (Seasonally                                Adj) QoQ Rate                              6% 0850/2350/1850  JPN  Oct     Bank of Japan - Bank of Japan Monetary Policy                             Meeting Minutes 1130/0030/1930  AUS  Sep     International Trade in Goods & Services                                Balance on Goods and Services                                - adjusted                      -2.1B      -1.52B                                Exports - adjusted                         -2%                                Imports - adjusted                         -3% 0900/0100/2000  PHI  Oct     CPI                                On Month                                   +0.2%                                On Year                                    +0.7% 1500/0200/2100  NZ           Auction of Government treasury bonds 1200/0630/0130  IND          Weekly WPI                                On Year                                    +1.51% 1600/0800/0300  PHI  Nov     Bangko Sentral ng Pilipinas - Philippine Monetary                             Policy meeting & decision 1600/0800/0300  TAI  Oct     WPI                                On Year                         -5.41%     -9.59% 1600/0800/0300  TAI  Oct     CPI                                On Year                         -1.2%      -0.86% 1620/0820/0320  TAI  Oct     International Reserves                                Reserves (US dollars)                      325.42B 1955/0855/0355  AUS          Reserve Bank of Australia - Reserve Bank of                             Australia Governor Glenn Stevens speech in                             Melbourne     N/A        JPN          Auction of 10-yr Government treasury bonds worth                             Y2.1T     N/A        SKA          Office of the U.S. Trade Representative -                             Anti-Counterfeiting Trade Agreement negotiations                             continue Friday, November 6, 2009                                        Exp        Prev Local/GMT/ET 0930/2230/1730  AUS  Oct     Australian PCI                                PCI                                        50.8 1130/0030/1930  AUS          Reserve Bank of Australia - Reserve Bank of                             Australia Quarterly Statement on Monetary Policy 1100/0200/2100  JPN  Oct     Imported Vehicle Sales 1400/0500/0000  JPN  Sep     Indexes of Business Conditions - Preliminary                             Release                                Leading Indicators              80         80                                Leading Indicators Mon Net                                Change                                     +0.8% 1630/0530/0030  AUS  Oct     Official Reserve Assets                                Reserves (US dollars)                      43B 1230/0700/0200  IND          Auction of 7.32% Government Stock 2014 worth                             INR30B 1230/0700/0200  IND          Auction of 6.35% Government Stock 2020 worth                             INR40B 1230/0700/0200  IND          Auction of 7.50% Government Stock 2034 worth                             INR20B 1430/0730/0230  THA          Weekly International Reserves 1700/0900/0400  MAL  Oct     International Reserves, end of month 1700/1130/0630  IND          Weekly foreign exchange reserves     N/A        AUS          Auction of April 2012 Government Bond worth                             A$700M     N/A        IND          Swedish EU Presidency - EU-India summit in Delhi     N/A        PHI  Oct     Gross International Reserves                                Reserves (US dollars)                      42.3B     N/A        SKA          Office of the U.S. Trade Representative -                             Anti-Counterfeiting Trade Agreement negotiations                             end     N/A        TAI          Auction of 91-day Government treasury bills worth                             of NT$25B Sunday, November 8, 2009                                        Exp        Prev Local/GMT/ET     N/A        IND          World Economic Forum - World Economic Forum's                             India Economic Summit, day 1     N/A        SIN          Asia-Pacific Economic Cooperation - APEC                             Concluding Senior Officials Meeting Monday, November 9, 2009                                        Exp        Prev Local/GMT/ET 0001/1101/0601  NZ   Oct     Residential Property Value Growth 0850/2350/1850  JPN  Oct     International Reserves / Foreign Currency                                Foreign Reserves (US dollars)              1.05T 1130/0030/1930  AUS  Sep     Housing Finance                                Housing Finance Approvals                                (SADJ)                                     -0.6%                                Value of Investment Housing                                Finance (SADJ)                             +7.6% 1130/0030/1930  AUS  Oct     ANZ Job Ads                                On Month                                   +4.4% 1200/0300/2200  SKA  Oct     Economic Trends, including household loans, money                             supply index Lf                                M2 (on year)                               +8.9%                                Household loans (KRW)                      400B 1200/0300/2200  SKA  Sep     Money Supply index L                                On Year                                    +18.5%                                In KRW                                     361T 1600/0800/0300  TAI  Oct     Merchandise trade                                Exports (on year)                          -12.7%                                Imports (on year)                          -21.1%                                Trade balance (US dollars)                 2.55B 1615/0815/0315  HK   Oct     Foreign Exchange Reserves                                Reserves (US dollars)                      3.6B 1700/0900/0400  SIN  Oct     Official Foreign Reserves                                Reserves (US dollars)                      182.04B     N/A        AUS  Oct     SEEK Employment Index     N/A        IND          World Economic Forum - World Economic Forum's                             India Economic Summit, day 2     N/A        PAK  Oct     CPI
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=zzvIlbd1ABWdI3%2FD8hQw4w%3D%3D. You can use this link on the day this article is published and the following day.

(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:40 ET (23:40 GMT)

DJMN: Magna Intl: Will Continue To Support Opel, GM In Challenges Ahead
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)
November 03, 2009 18:39 ET (23:39 GMT)

DJMN: Magna Intl Ends Deal With Opel Unit Of General Motors >MG.A
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)
November 03, 2009 18:38 ET (23:38 GMT)

DJMN: OCBC Plans US$500M Debt Issue -Report
SINGAPORE (Dow Jones)--Oversea-Chinese Banking Corp. (O39.SG) is planning to issue U.S. dollar lower Tier-2 subordinated debt, the Business Times reported Wednesday, citing an unnamed source close to the matter.
The paper said that this is going to be a benchmark issue with a minimum size of US$500 million and the fund raising is aimed at boosting the Tier-2 capital ratio only.
Credit Suisse, Morgan Stanley and Goldman Sachs have been appointed lead managers for the debt issue, the paper said.

Newspaper Web site:
http://business-times.asia1.com.sg

-Singapore Bureau, Dow Jones Newswires; 65-6415-4150; djnews.singapore.bureau@dowjones.com

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(END) Dow Jones Newswires
November 03, 2009 18:38 ET (23:38 GMT)

DJMN: Opel Sale Process Terminated >MG.A
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)
November 03, 2009 18:37 ET (23:37 GMT)

DJMN: Argentina's Oct Tax Collection +8.8% On Yr, Totals ARS26.4B
BUENOS AIRES (Dow Jones)--Argentina's government collected 8.8% more tax revenue in October than it did a year ago, a Treasury official said Tuesday.
Tax collection in October totaled 26.416 billion pesos ($6.9 billion), Treasury Secretary Juan Carlos Pezoa said.
"The result surpassed expectations," he said. "That's because of an improvement in consumption."
-Taos Turner, Dow Jones Newswires; 5411-4103-6728; taos.turner@dowjones.com

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(END) Dow Jones Newswires
November 03, 2009 18:34 ET (23:34 GMT)

DJMN: PRESS RELEASE: Moody's Places Ochsner Community Hospital's (LA) A3 Rating On Watchlist For Possible Downgrade; Bonds Guaranteed By Ochsner Clinic Foundation
The following is a press release from Moody's Investors Service: OCHSNER COMMUNITY HOSPITAL HAS A TOTAL OF $84 MILLION OF LONG-TERM BONDS OUTSTANDING Ochsner Community Hospital, LA Louisiana Public Facilities Authority Health Care-Hospital Louisiana NEW YORK, November 3, 2009 -- Moody's Investors Service has placed on Watchlist for possible downgrade the A3 long-term bond rating assigned to Ochsner Community Hospital's (OCH) $84 million of outstanding Series 2007B fixed rate bonds issued by the Louisiana Public Facilities Authority. OCH is wholly owned by Ochsner Health System, as is Ochsner Clinic Foundation (OCF). The payment of principal and interest on the bonds is unconditionally guaranteed by OCF, and the A3 bond rating is based upon this guaranty and OCF's current bond rating. The Watchlist action is attributable to a continuation of weak financial performance and balance sheet metrics for Ochsner Clinic Foundation as of second quarter ended June 30, 2009. Despite improvement in operating performance in the first six months of fiscal year 2009 to report a $3.8 million system-wide profit compared to a sizable loss the same period of the prior year, operating margin and operating cash flow margin remain low at 0.5% and 5.7%, respectively. As with many organizations, absolute liquidity is down from fiscal year end December 31, 2008 to $197 million from $217 million, and cash on hand remains weak at 47 days. Moody's will evaluate the third quarter financial performance with management when released and plans to update the Watchlist action shortly thereafter. CONTACT Obligor: Scott J. Posecai, Executive Vice President and Chief Financial Officer, Ochsner Health System (504) 842-4097 The principal methodology used in rating Ochsner Community Hospitals was Moody's Rating Methodology: Not-For-Profit Hospitals and Health Systems, published in January 2008 and available on www.moodys.com in the Rating Methodologies sub-directory under the Research & Ratings tab. Other methodologies and factors that may have been considered in the process of rating Ochsner Community Hospitals can also be found in the Rating Methodologies sub-directory on Moody's website. The last rating action was on August 2, 2007 when the rating of Ochsner Community Hospitals was assigned at A3 with a negative outlook. ANALYSTS: Kay Sifferman, Analyst, Public Finance Group, Moody's Investors Service Jae Choi, Backup Analyst, Public Finance Group, Moody's Investors Service Lisa Goldstein, Senior Credit Officer, Public Finance Group, Moody's Investors Service CONTACTS: Journalists: (212) 553-0376 Research Clients: (212) 553-1653 CREDIT RATINGS ARE MIS'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES. MIS DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT.  CREDIT RATINGS DO NOT CONSTITUTE INVESTMENT OR FINANCIAL ADVICE, AND CREDIT RATINGS ARE NOT RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES.  CREDIT RATINGS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR.  MIS ISSUES ITS CREDIT RATINGS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE. Copyright 2009, Moody's Investors Service, Inc. and/or its licensors and affiliates including Moody's Assurance Company, Inc. (together, "MOODY'S"). All rights reserved. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY COPYRIGHT LAW AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. All information contained herein is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, such information is provided "as is" without warranty of any kind and MOODY'S, in particular, makes no representation or warranty, express or implied, as to the accuracy, timeliness, completeness, merchantability or fitness for any particular purpose of any such information. Under no circumstances shall MOODY'S have any liability to any person or entity for (a) any loss or damage in whole or in part caused by, resulting from, or relating to, any error (negligent or otherwise) or other circumstance or contingency within or outside the control of MOODY'S or any of its directors, officers, employees or agents in connection with the procurement, collection, compilation, analysis, interpretation, communication, publication or delivery of any such information, or (b) any direct, indirect, special, consequential, compensatory or incidental damages whatsoever (including without limitation, lost profits), even if MOODY'S is advised in advance of the possibility of such damages, resulting from the use of or inability to use, any such information. The credit ratings and financial reporting analysis observations, if any, constituting part of the information contained herein are, and must be construed solely as, statements of opinion and not statements of fact or recommendations to purchase, sell or hold any securities. NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY SUCH RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY MOODY'S IN ANY FORM OR MANNER WHATSOEVER. Each rating or other opinion must be weighed solely as one factor in any investment decision made by or on behalf of any user of the information contained herein, and each such user must accordingly make its own study and evaluation of each security and of each issuer and guarantor of, and each provider of credit support for, each security that it may consider purchasing, holding or selling. MOODY'S hereby discloses that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MOODY'S have, prior to assignment of any rating, agreed to pay to MOODY'S for appraisal and rating services rendered by it fees ranging from $1,500 to $2,400,000. Moody's Corporation (MCO) and its wholly-owned credit rating agency subsidiary, Moody's Investors Service (MIS), also maintain policies and procedures to address the independence of MIS's ratings and rating processes. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities who hold ratings from MIS and have also publicly reported to the SEC an ownership interest in MCO of more than 5%, is posted annually on Moody's website at www.moodys.com under the heading "Shareholder Relations - Corporate Governance - Director and Shareholder Affiliation Policy." Moody's Investors Service Pty Limited does not hold an Australian financial services licence under the Corporations Act. This credit rating opinion has been prepared without taking into account any of your objectives, financial situation or needs. You should, before acting on the opinion, consider the appropriateness of the opinion having regard to your own objectives, financial situation and needs.
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(END) Dow Jones Newswires
November 03, 2009 18:33 ET (23:33 GMT)

DJMN: Moody's Places Ochsner Community Hospital's (LA) A3 Rating On Watchlist For Possible Downgrade; Bonds Guaranteed By Ochsner Clinic Foundation
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:33 ET (23:33 GMT)

DJMN: Attorney For Reserve's Bents In SEC Suit Withdraws-Reports
By Daisy Maxey   Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--The attorney representing Reserve Management Co. founder Bruce Bent Sr. in a lawsuit filed by the U.S. Securities and Exchange Commission has reportedly withdrawn.
WilmerHale LLP, which has served as legal counsel to Bent and his son, Bruce Bent II, in a lawsuit brought by the SEC relating to the Primary Fund, withdrew from the case in October, according to Law360, a newswire for business lawyers.
Judge Paul Gardephe of the U.S. District Court for the Southern District of New York, who is hearing the case, ordered the withdrawal of WilmerHale at its request in early October, Law360 reported.
Philadelphia-based Duane Morris LLP took WilmerHale's place as counsel, the Financial Times reported recently.
Reserve Management, WilmerHale and Duane Morris didn't return calls made late Tuesday seeking comment on the change of counsel.
The SEC's lawsuit alleges that Reserve Management, the Bents and others failed to provide key material information to investors, the Reserve Primary Fund's board of trustees and rating agencies after Lehman Brothers filed for bankruptcy protection last year. Reserve Primary Fund held $785 million in Lehman Brothers securities, and its net asset value fell below the $1-a-share money-market funds strive to maintain after Lehman filed for bankruptcy.
By Daisy Maxey; Dow Jones Newswires; 212 416 2237; daisy.maxey@dowjones.com

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(END) Dow Jones Newswires
November 03, 2009 18:32 ET (23:32 GMT)

DJMN: German State Governor Wants GM To Repay Opel Bridge Financing
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:32 ET (23:32 GMT)

DJMN: PRESS RELEASE: Moody's Places Ochsner Clinic Foundation's (LA) A3 Rating On Watchlist For Possible Downgrade
The following is a press release from Moody's Investors Service: OCHSNER CLINIC FOUNDATION HAS A TOTAL OF $380 MILLION OF LONG-TERM BONDS OUTSTANDING Ochsner Clinic Foundation, LA Louisiana Public Facilities Authority Health Care-Hospital Louisiana NEW YORK, November 3, 2009 -- Moody's Investors Service has placed on Watchlist for possible downgrade the A3 long-term bond rating assigned to Ochsner Clinic Foundation's (OCF) $380 million of outstanding Series 2007A fixed rate bonds issued by the Louisiana Public Facilities Authority. OCF is solely owned by Ochsner Health System, which also owns Ochsner Community Hospitals (OCH). The Watchlist action is attributable to a continuation of a weak financial performance and balance sheet metrics as of second quarter ended June 30, 2009 for Ochsner Health System. Despite improvement in operating performance in the first six months of fiscal year 2009 to report a $3.8 million system-wide profit compared to a sizable loss the same period of the prior year, operating margin and operating cash flow margin remain low at 0.5% and 5.7%, respectively. As with many organizations, absolute liquidity is down from fiscal year end December 31, 2008 to $197 million from $217 million, and cash on hand remains weak at 47 days. Moody's will evaluate the third quarter financial performance with management when released and plans to update the Watchlist action shortly thereafter. CONTACT Obligor: Scott J. Posecai, Executive Vice President and Chief Financial Officer, Ochsner Clinic Foundation (504) 842-4097 The principal methodology used in rating Ochsner Clinic Foundation was Moody's Rating Methodology: Not-For-Profit Hospitals and Health Systems, published in January 2008 and available on www.moodys.com in the Rating Methodologies sub-directory under the Research & Ratings tab. Other methodologies and factors that may have been considered in the process of rating Ochsner Clinic Foundation can also be found in the Rating Methodologies sub-directory on Moody's website. The last rating action was on August 1, 2007 when the ratings of Ochsner Clinic Foundation were affirmed at A3 with a negative outlook. ANALYSTS: Kay Sifferman, Analyst, Public Finance Group, Moody's Investors Service Jae Choi, Backup Analyst, Public Finance Group, Moody's Investors Service Lisa Goldstein, Senior Credit Officer, Public Finance Group, Moody's Investors Service CONTACTS: Journalists: (212) 553-0376 Research Clients: (212) 553-1653 CREDIT RATINGS ARE MIS'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES. MIS DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT.  CREDIT RATINGS DO NOT CONSTITUTE INVESTMENT OR FINANCIAL ADVICE, AND CREDIT RATINGS ARE NOT RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES.  CREDIT RATINGS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR.  MIS ISSUES ITS CREDIT RATINGS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE. Copyright 2009, Moody's Investors Service, Inc. and/or its licensors and affiliates including Moody's Assurance Company, Inc. (together, "MOODY'S"). All rights reserved. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY COPYRIGHT LAW AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. All information contained herein is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, such information is provided "as is" without warranty of any kind and MOODY'S, in particular, makes no representation or warranty, express or implied, as to the accuracy, timeliness, completeness, merchantability or fitness for any particular purpose of any such information. Under no circumstances shall MOODY'S have any liability to any person or entity for (a) any loss or damage in whole or in part caused by, resulting from, or relating to, any error (negligent or otherwise) or other circumstance or contingency within or outside the control of MOODY'S or any of its directors, officers, employees or agents in connection with the procurement, collection, compilation, analysis, interpretation, communication, publication or delivery of any such information, or (b) any direct, indirect, special, consequential, compensatory or incidental damages whatsoever (including without limitation, lost profits), even if MOODY'S is advised in advance of the possibility of such damages, resulting from the use of or inability to use, any such information. The credit ratings and financial reporting analysis observations, if any, constituting part of the information contained herein are, and must be construed solely as, statements of opinion and not statements of fact or recommendations to purchase, sell or hold any securities. NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY SUCH RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY MOODY'S IN ANY FORM OR MANNER WHATSOEVER. Each rating or other opinion must be weighed solely as one factor in any investment decision made by or on behalf of any user of the information contained herein, and each such user must accordingly make its own study and evaluation of each security and of each issuer and guarantor of, and each provider of credit support for, each security that it may consider purchasing, holding or selling. MOODY'S hereby discloses that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MOODY'S have, prior to assignment of any rating, agreed to pay to MOODY'S for appraisal and rating services rendered by it fees ranging from $1,500 to $2,400,000. Moody's Corporation (MCO) and its wholly-owned credit rating agency subsidiary, Moody's Investors Service (MIS), also maintain policies and procedures to address the independence of MIS's ratings and rating processes. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities who hold ratings from MIS and have also publicly reported to the SEC an ownership interest in MCO of more than 5%, is posted annually on Moody's website at www.moodys.com under the heading "Shareholder Relations - Corporate Governance - Director and Shareholder Affiliation Policy." Moody's Investors Service Pty Limited does not hold an Australian financial services licence under the Corporations Act. This credit rating opinion has been prepared without taking into account any of your objectives, financial situation or needs. You should, before acting on the opinion, consider the appropriateness of the opinion having regard to your own objectives, financial situation and needs.
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=zzvIlbd1ABWdI3%2FD8hQw4w%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires
November 03, 2009 18:32 ET (23:32 GMT)

DJMN: Moody's Places Ochsner Clinic Foundation's (LA) A3 Rating On Watchlist For Possible Downgrade
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:32 ET (23:32 GMT)

DJMN: German State Governor Fears Job Losses At Opel If GM Keeps Co
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:32 ET (23:32 GMT)

DJMN: German State Governor Koch Concerned About GM Keeping Opel
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:31 ET (23:31 GMT)

DJMN: PRESS RELEASE: DBRS Notes Name Change of TD Banknorth Inc. to TD Bank US Holding Company
DBRS® As It Happens
NOVEMBER 3, 2009 06:28 PM
Press Releases
DBRS.com <http://www.dbrs.com>
DBRS Notes Name Change of TD Banknorth Inc. to TD Bank US Holding Company
DBRS notes that TD Banknorth Inc. has changed its name to TD Bank US Holding Company. The name change was effective as of November 1, 2009. The operating bank subsidiary's name, TD Bank, N. A., remains unchanged.
Notes:
The applicable methodologies are Rating Banks and Bank Holding Companies Operating in the United States, and Enhanced Methodology for Bank Ratings - Intrinsic and Support Assessments which can be found on our website under Methodologies.
This is a Corporate (Financial Institutions) rating.
Click here for the full document. <http://www.dbrs.com/intnlweb/document?docId=230509>
Issuer Debt Rated Rating Action Rating Trend Notes Latest Event TD Bank US Holding Company Issuer & Senior Debt Co. Name Change AA (low) Stb Nov 3, 2009 TD Bank US Holding Company Subordinated Debt Co. Name Change A (high) Stb Nov 3, 2009 TD Bank US Holding Company Short-Term Instruments Co. Name Change R-1 (middle) Stb Nov 3, 2009 Michael Driscoll Vice President - U.S. Financial Institutions Group +1 212 806 3243 mdriscoll@dbrs.com Michael Schaller, CFA Assistant Vice President - U.S. Financial Institutions Group +1 212 806 3236 mschaller@dbrs.com Alan G. Reid Managing Director - Financial Institutions Group +1 212 806 3232 areid@dbrs.com ALL DBRS RATINGS ARE SUBJECT TO DISCLAIMERS AND CERTAIN LIMITATIONS. PLEASE READ THESE DISCLAIMERS AND LIMITATIONS. ADDITIONAL INFORMATION REGARDING DBRS RATINGS, INCLUDING DEFINITIONS, POLICIES AND METHODOLOGIES, ARE AVAILABLE ON WWW.DBRS.COM <http://www.dbrs.com>.
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=zzvIlbd1ABWdI3%2FD8hQw4w%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires
November 03, 2009 18:29 ET (23:29 GMT)

DJMN: Indian Government Asks Listed PSUs To Expand Equity Base - Report
DOW JONES NEWSWIRES

Profitable listed Indian public-sector undertakings are to be encouraged to go to the stock market with follow-on public offerings, and the government will consider the sale of stakes in such companies when they expand their equity bases through the issue of new shares, the Business Standard reported on its Web site Wednesday, citing a finance ministry approach paper on disinvestment.
Government policy will focus on the listing of profitable public-sector undertakings through an offer for sale of equity or the issue of new shares, the Web site reported the paper as saying.

Full story: http://www.business-standard.com/india/news/govt-asks-listed-psus-to-expand-equity-bases/375281/

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(END) Dow Jones Newswires
November 03, 2009 18:27 ET (23:27 GMT)

DJMN: National Australia Bank Drops Bond Issue Plan
SYDNEY (Dow Jones)--National Australia Bank (NAB.AU) Wednesday said it decided against an offer of term securities last week due to a lack of interest from investors, which it blamed on concerns about possible new liquidity regulations.
The Australian Prudential Regulatory Authority has issued a discussion document on strengthening the assets Australian banks can hold and class as liquid.
"We sounded out. There wasn't market interest, and the reason for that appears to be uncertainty about the APRA liquidity proposals," a NAB spokesman said.
Details on the maturities offered were not immediately available.
-By Enda Curran, Dow Jones Newswires;
61-2-8272-4687; enda.curran@dowjones.com

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(END) Dow Jones Newswires
November 03, 2009 18:24 ET (23:24 GMT)

DJMN: First Keystone Fincl To Merge With Bryn Mawr Bank Corp. >FKFS
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)
November 03, 2009 18:22 ET (23:22 GMT)

DJMN: Kraft Conserved Cash Partly To Ensure Ratings
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:21 ET (23:21 GMT)

DJMN: Imperial Oil Cuts Edmonton Par Crude By C$5 Cu. Meter
CALGARY (Dow Jones)--Imperial Oil Ltd. (IMO) reduced its purchase price for benchmark 40-degree gravity light crude oil at Edmonton by C$5 a cubic meter to C$511 a cubic meter, effective Tuesday.
In terms of barrels, the company is now offering C$81.25 a barrel, down from C$82.05. The new purchase price indicates an export price delivered to Chicago of about US$77.57 a barrel after considering transportation and import charges and foreign exchange rates.
Actual export prices are confidential but are believed to be closely related to the posted levels.
Imperial Oil is an integrated oil and gas company.
-By Tara Zachariah, Dow Jones Newswires; 416-306-2100; tara.zachariah@dowjones.com

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(END) Dow Jones Newswires
November 03, 2009 18:21 ET (23:21 GMT)

DJMN: GM Europe Labor Rep: Labor Agreement Not Valid If GM Keeps Co
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:20 ET (23:20 GMT)

DJMN: Kraft Expects To Hold Dividend Per Share Constant
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:19 ET (23:19 GMT)

DJMN: French Min: Talks Continue With France Over Dassault Fighter Bid
RIO DE JANEIRO (AFP)--Brazil and France are continuing discussions over Brasilia's stated plan to buy 36 French-made Rafale fighter jets, French Defense Minister Herve Morin said Tuesday.
Morin, speaking after a meeting with Brazilian Defense Minister Nelson Jobim, refused to say whether Brazil was going ahead with the purchase or to give a possible date for an announcement.
The Rafales, made by Dassault Aviation SA (AM.FR), are seen as frontrunners in a competition with Gripen NGs made by Sweden's Saab AB (SAAB-B.SK) and F/A-18 jets by Boeing Co. (BA).
In early September, Brazilian President Luiz Inacio Lula da Silva and French President Nicolas Sarkozy said Brazil had started talks to buy the Rafales. However, under pressure from the Brazilian military, a final decision has been left open as the bidding companies sweeten their offers.
The deal is estimated to be worth between $4 billion and $7 billion, depending on details such as armaments, maintenance and peripheral industrial involvement. Brazil could also end up buying up to another 100 jets from the supplier over the long term.
"Discussions are continuing in a climate of confidence," Morin said. "We are now awaiting the evaluation by the Brazilian armed forces and then the political decision process."
Brazil has made technology transfer the main priority in the tender, so it can end up being able to make fighter aircraft itself and boost its aviation industry. In its bid, France has offered near total access to its technology. Saab and Boeing have said they will make "key" technology available.
Brazil has a strategic relationship with France, and has already sealed other military deals with France worth around $11 billion to buy four submarines and 50 helicopters.
-Dow Jones Newswires; 212-416-2900

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(END) Dow Jones Newswires
November 03, 2009 18:19 ET (23:19 GMT)

DJMN: GM Europe Labor Rep:Labor Agreement Not Valid If GM Keeps Co
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:19 ET (23:19 GMT)

DJMN: Imperial Oil Cuts Edmonton Par Crude By C$5 Cu. Meter
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:19 ET (23:19 GMT)

DJMN: Magna's Opel Loss Could Be Shareholders' Gain >MGA
By Andy Georgiades   Of DOW JONES NEWSWIRES
TORONTO (Dow Jones)--While Magna International Inc. (MGA) may lament the breakdown of its deal to acquire a stake of General Motors Co.'s Adam Opel GmbH unit, shareholders may breathe a sigh of relief.
"We think it's positive for the stock if this (Opel deal) doesn't go through," said UBS analyst Fadi Chamoun, noting that the risk/reward for the investment isn't attractive given it falls outside its core expertise in the auto-parts business.
A Magna spokeswoman said the company had no comment on Opel but will issue a response "shortly."
As reported late Tuesday, GM's board of directors has changed its tune on Opel, deciding to restructure its European operations instead of selling them due to an "improving business environment."
Magna's share price has lagged its U.S. peers as the Opel saga has dragged on. While Magna is up about 17% in the past 12 months, Johnson Controls Inc. (JCI) is up 37%, American Axle & Manufacturing Holdings (AXL) is up 125%, and Gentex is up 67%.
In a past note on Magna's potential investment in Opel, Chamoun said that Magna's best course of action would be to "fortify" its leadership position as a Tier 1 supplier.
"The auto parts supply base has been significantly weakened during the current downturn with the bulk of Magna’s competitors having limited access to capital, effectively hampering their competitiveness," he wrote. "As a result, we believe meaningful opportunities to secure incremental market share across its current product offering, organically or via acquisition, are on Magna’s horizon."
Michael Willemse, analyst at CIBC, said Magna's Opel deal got way too much attention relative to the size of the company's actual investment - about $300 million. While his view of the company wouldn't change whether it won Opel or not, he said Magna's stock will probably go up because there will be "less distraction" for shareholders worried about the repercussions of the Opel investment.
In addition, any concerns about Magna's investment in Opel scaring away its automaker-customers concerned about intellectual-property leaks should also "go away," he said.
Company Web Site: http://www.magna.com

-By Andy Georgiades, Dow Jones Newswires; 416-306-2031; andy.georgiades@dowjones.com

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(END) Dow Jones Newswires
November 03, 2009 18:18 ET (23:18 GMT)

DJMN: Argentina Sells ARS300 In Debt To Pension Agency, Banks
BUENOS AIRES (Dow Jones)--Argentina's Planning and Infrastructure Ministry said Tuesday that it had sold 300 million pesos ($78.5 million) to the social security agency, Anses, as well to local banks and insurance companies.
The government sold 37.8% of the bonds to 46 different institutional investors, including three investment funds, the ministry said in a statement.
The remainder was bought by Anses, which has become an increasingly important source of financing for public works projects since Argentina nationalized its private pension fund system almost a year ago.
The ministry didn't provide other details and a spokesman for the ministry wasn't available for comment.
The ministry will use the funds to invest in highway and road projects around the country.
- By Taos Turner, Dow Jones Newswires; 5411-4103-6728; taos.turner@dowjones.com

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(END) Dow Jones Newswires
November 03, 2009 18:18 ET (23:18 GMT)

DJMN: 2ndUPDATE:NZ Govt 3-Mo Core Oper Deficit Better Than Forecast
(Updates with comments from finance minister and economist)   By Simon Louisson   Of DOW JONES NEWSWIRES
WELLINGTON (Dow Jones)--The New Zealand government Wednesday reported a three-month operating deficit of NZ$175 million, which was lower than what it forecast in the May budget, while the more closely watched deficit after gains and losses, known as the Obegal, was substantially higher.
The Treasury said that the core deficit--operating balance excluding gains and losses--for the three months ended Sept. 30 was NZ$175 million, lower than the NZ$598 million deficit forecast based on the government's budget.
The Obegal deficit for the quarter was NZ$2.02 billion, against the forecast of NZ$1.15 billion.
Net core government debt as of Sept. 30, at NZ$21.25 billion, was 11.8% of gross domestic product, compared with the forecast of NZ$20.87 billion, or 11.6% of GDP.
Last month, the government posted a record headline deficit of NZ$10.5 billion for the 12 months to June 30 as the global and domestic recession sharply reduced tax revenue and its impact on world markets punched a hole in government investments.
In the second quarter, the economy emerged from the worst recession since the first oil-shock slowdown in the mid-1970s.
In its May budget, the government forecast an operating deficit for the 12 months to June 30, 2010, of NZ$5.73 billion, and a deficit before gains and losses of NZ$7.74 billion, or 4.4% of GDP.
The Treasury said core tax revenue, at NZ$11.9 billion, was NZ$1.1 billion lower than forecast, following the trend reported in the fiscal-2009 financial statements published last month.
The majority of the variance to the Obegal was due to corporate tax of NZ$900 million below forecast, reflecting lower company profits and the timing of provisional tax, Treasury said.
ANZ Bank economist Philip Borkin said the lower tax take was the main area of concern in the accounts, and the tax side would likely remain under pressure from the fallout of the five-quarter-long recession that ended in the second quarter.
Treasury said a clearer picture of implications for fiscal 2010 will emerge from four months to Oct. 31 accounts due next month.
Borkin said the government has acknowledged that it needs a period of budget consolidation. He noted the Reserve Bank of New Zealand last month suggested the withdrawal of fiscal stimulus would reduce pressure on the central bank to hike interest rates next year.
Borkin said there would be greater-than-usual interest in the government's budget update next month.
Finance Minister Bill English said the accounts confirm that it will take time for the economic recovery to flow through to government revenue.
"We are seeing some welcome early signs of New Zealand moving out of recession." He said he expects the unemployment rate will not be as high as previously feared and will come down sooner that expected.
"However, the road to recovery will be quite bumpy and this is reflected in the financial statements issued today. Certainly, the impact of the recession on the government's revenue will be felt for some time."
Higher-than-forecast investment returns reported by the government-owned pension fund, NZ Superannuation Fund, and government insurance program ACC, of NZ$1.4 billion and NZ$700 million, respectively, offset the tax result, meaning the core operating balance deficit was slightly better than forecast.
Gross debt at NZ$48.5 billion was NZ$1.4 billion higher than forecast due to an increase in International Monetary Fund reserve liabilities.
Other key indicators were largely on target, Treasury said.

-By Simon Louisson, Dow Jones Newswires; 64-4-471-5990; simon.louisson@dowjones.com

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(END) Dow Jones Newswires
November 03, 2009 18:17 ET (23:17 GMT)

DJMN: Getty Realty 3Q EPS 49c >GTY
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)
November 03, 2009 18:16 ET (23:16 GMT)

DJMN: CORRECT: INTERVIEW: Imagination Tech Sees Sector Growth In 2010
("=INTERVIEW: Imagination Tech Sees Double Digit Rev Growth In'10," at 1729 GMT, misstated that the company would see double digit growth in the headline and the first paragraph. The correct version follows:)

By Elliott Ball
Of DOW JONES NEWSWIRES

LONDON (Dow Jones)--U.K. semiconductor intellectual property company Imagination Technologies Group PLC (IMG.LN) expects the semiconductor sector to see double digit growth in 2010 as licensing deals and stronger consumer spending help to lift sales, Chief Executive Hossein Yassaie told Dow Jones Newswires Tuesday.
"The key growth driver for us has been the general migration to digital systems," Yassaie said. "We're very bullish at the moment, and the outlook for the industry looks positive generally."
The company, which lists Apple Inc. (AAPL) and Intel Corp. (INTC) as two of its largest shareholders, believes consumer interest in wireless technology, especially Digital Audio Broadcasting, or DAB, and portable Internet devices will continue to grow strongly through next year, putting it in a strong position.
Yassaie added that suppliers have stopped de-stocking their inventories and consumer spending has stabilized over the course of the year.
"I think we'll also see a significant rebound in emerging markets through 2010 too. This will be driven in part by more affordable mobile handset technology and a growing range of these products," he said.
Imagination, which posted net cash position of GBP14.6 million on April 30 said it hoped to strengthen its cash position through next year to over GBP20 million if it wanted to consider making further small 'bolt on' acquisitions.
Shares closed down 12.3 pence or 5.8% at 199.6 pence, underperforming a weaker FTSE 250 index - down 1.81%.

Company Web site: www.imgtec.com

-By Elliott Ball, Dow Jones Newswires; 44-20-7842-9314; elliott.ball@dowjones.com

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(END) Dow Jones Newswires
November 03, 2009 18:15 ET (23:15 GMT)

DJMN: Bryn Mawr: First Keystone Hldrs To Get 0.6973 BMTC Shrs, $2.06 Cash Per Shr Held
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)
November 03, 2009 18:15 ET (23:15 GMT)

DJMN: Tata Motors Increases Bus Production At Dharwad - Report
DOW JONES NEWSWIRES

Tata Motors Ltd. (TTM) has increased bus production at its Dharwad facility, primarily to avoid delays in supplying low-floor buses to the Delhi Transport Corp., the Business Standard reported on its Web site Wednesday, citing Tata Motors Managing Director of India Operations, P.M. Telang.
Ashok Leyland (500477.BY) has overshot an original delivery deadline of September to supply buses to DTC, but Tata Motors is confident of meeting its February deadline, the Web site said.
"We are ramping up the Dharwad plant capacity to 700-800 light buses per month. Parallelly, we are also setting up a line for heavy buses, which will produce 200 buses every month. We are hopeful of clearing the DTC order by February," the Web site quoted Telang as saying.

Full story: http://www.business-standard.com/india/news/tata-motors-ashok-leyland-rush-to-increase-bus-supply/375287/

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=zzvIlbd1ABWdI3%2FD8hQw4w%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires
November 03, 2009 18:15 ET (23:15 GMT)

DJMN: Global Stock Indexes at 18:15 EST/2315 GMT
Latest    Change   %Change    %12/31 New York   DJ Indus        9771.91    -17.53     -0.18    +11.34    Close           Nasdaq          2057.32      8.12      0.40    +30.46    Close           NYSE Comp       6812.70     27.76      0.41    +18.34    Close           S&P 500         1045.41      2.53      0.24    +15.74    Close           Russell 2000     570.62      8.22      1.46    +14.25    Close           DJ TSM         10729.03     53.35      0.50    +18.07    Close Toronto    S&P/TSX        11025.90    147.55      1.36    +22.68    Close London     FTSE 100        5037.21    -67.29     -1.32    +13.60    Close           FTSE 250        8756.68   -161.21     -1.81    +37.67    Close Frankfurt  Xetra DAX       5353.35    -77.47     -1.43    +11.29    Close Paris      CAC40           3584.25    -55.21     -1.52    +11.38    Close Tokyo      Nikkei Stock    9802.95   -231.79     -2.31    +10.65    Nov  2           Nikkei 300       177.18     -3.10     -1.72     +1.25    Nov  2 Hong Kong  Hang Seng      21240.06   -380.13     -1.76    +47.63    Nov  3 Sydney     S&P/ASX 200     4531.50     -8.90     -0.20    +21.74    Nov  3           All Ord         4540.00     -6.30     -0.14    +24.07    Nov  3 DJ Europe  STOXX 600        234.90     -2.74     -1.15    +19.30    Close           STOXX 50        2387.99    -33.30     -1.38    +15.62    Close           EuroSTOXX50     2712.30    -50.65     -1.83    +10.64    Close Amsterdam  AEX              300.11     -2.71     -0.89    +22.03    Close Athens     ASE             2584.04    -62.20     -2.35    +44.64    Close Brussels   BEL-20          2351.09    -46.32     -1.93    +23.18    Close Copenhagen OMXC20           324.62     -1.87     -0.57    +31.04    Close Dublin     ISEQ            2811.73    -61.34     -2.14    +19.99    Close Helsinki   OMX Helsinki    5913.92    -65.44     -1.09     +9.45    Close Istanbul   IMKB-100       46335.05  -1121.06     -2.36    +72.48    Close Jo-burg    All Share      25755.60   -357.13     -1.37    +19.74    Close Lisbon     PSI General     2820.87    -29.80     -1.05    +36.04    Close Madrid     IBEX 35        11242.40   -223.40     -1.95    +22.26    Close Milan      FTSE MIB       21946.91   -351.40     -1.58    +12.78    Close           FTSE Italia    22400.66   -356.04     -1.56    +12.88    Close Oslo       OBX Stock        295.48     -4.99     -1.66    +48.39    Close           All-Share        376.00     -5.25     -1.38    +39.16    Close Prague     PX              1112.00    -18.40     -1.63    +29.57    Close Russia     RTS             1315.88     10.77      0.83   +108.25    Close Vienna     ATX             2460.10    -65.74     -2.60    +40.51    Close Zurich     Swiss Mkt       6213.35    -77.87     -1.24    +12.27    Close DJ Pacific Pan-Asia         116.88      0.04      0.03    +24.89    Close Bangkok    SET              668.48     -8.74     -1.29    +48.56    Close Mumbai     Sensitive      15404.94   -491.34     -3.09    +59.68    Close Jakarta    JSX Comp        2334.11    -37.54     -1.58    +72.21    Close Kuala L    Composite       1242.32      0.56      0.05    +41.70    Nov  3 Manila     PSE             2908.24     -0.26     -0.01    +55.28    Nov  3 Saudi Arabia  TASI         6283.31    -88.66     -1.39    +30.82    Close Seoul      Kospi           1549.92     -9.17     -0.59    +37.84    Nov  3 China      DJ CBN 600     27671.20    389.94      1.43    +87.41    Close Shanghai   Composite       3114.23     37.58      1.22    +71.04    Nov  3 Shanghai   A Share         3268.12     39.42      1.22    +70.95    Nov  3 Shanghai   B Share          215.95      2.79      1.31    +94.69    Nov  3 Shenzhen   A Share         1160.09     19.72      1.73    +99.50    Nov  3 Shenzhen   B Share          555.22      5.93      1.08   +104.67    Nov  3 Singapore  Straits T       2621.55    -23.88     -0.90    +48.82    Close Taipei     Weighted        7322.93    -12.25     -0.17    +59.50    Close Wellington NZSX-50         3151.67     -7.32     -0.23    +16.05    Intraday Buenos A   MERVAL          2204.68     59.21      2.75   +104.20    Close Caracas    General        50587.54   -204.28     -0.40    +44.84    Close Mexico C   IPC            28886.53    240.50      0.84    +29.07    Close Santiago   IPSA            3291.72      5.04      0.15    +38.52    Close Sao Paulo  BOVESPA        62643.23   1097.73      1.78    +66.82    Close Data are delayed at least 15 minutes, except the Dow Jones Industrial Average, the Dow Jones Total Stock Market, and the Dow Jones Pan-Asia index. Source:Thomson Reuters
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(END) Dow Jones Newswires
November 03, 2009 18:15 ET (23:15 GMT)

DJMN: Bryn Mawr Bank To Buy First Keystone Fincl
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)
November 03, 2009 18:14 ET (23:14 GMT)

DJMN: Bryn Mawr Bank Corp To Acquire First Keystone Fincl, Inc. >BMTC
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)
November 03, 2009 18:14 ET (23:14 GMT)

DJMN: 10-Yr Benchmark Govt Yields - Germany vs Other Nations
Current     --------------  Spread in Basis Points  -----------               Yield       Today   Prev Day   Week Ago   Month Ago   Year Ago Germany       3.284 % Australia     5.633 %      234.9      225.3      244.7       207.4      145.6 Austria       3.634 %       35.0       35.0       33.6        50.4       72.3 Belgium       3.679 %       39.5       39.5       38.2        55.4       75.4 Canada        3.428 %       14.4       14.7       19.8        13.7       -6.1 Denmark       3.698 %       41.4       41.4       42.4        40.0       61.3 France        3.588 %       30.4       30.4       27.2        37.7       43.3 Italy         3.968 %       68.4       68.4       69.0        82.6      106.4 Japan         1.385 %     -189.9     -189.9     -182.6      -183.1     -225.9 Netherlands   3.557 %       27.3       27.3       25.5        34.6       55.0 Portugal      3.792 %       50.8       50.8       55.2        71.4       93.1 Spain         3.832 %       54.8       54.8       53.0        66.2       73.0 Sweden U.K.          3.723 %       43.9       44.2       36.0        31.6       68.1 U.S.          3.469 %       18.5       18.5       16.0         9.7       -8.4 Source: Thomson Reuters
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November 03, 2009 18:10 ET (23:10 GMT)

DJMN: 2-Yr Benchmark Govt Yields - Germany vs Other Nations
Current     --------------  Spread in Basis Points  -----------               Yield       Today   Prev Day   Week Ago   Month Ago   Year Ago Germany       1.265 % Australia     4.615 %      335.0      333.5      356.5       301.0      148.5 Austria       1.017 %      -24.8      -24.8      -38.0       -27.5       39.7 Belgium       1.112 %      -15.3      -15.3      -22.8       -13.5       38.2 Canada        1.403 %       13.8       14.0       13.8        -3.2      -52.9 Denmark       2.361 %      109.6      109.6      106.8       102.9      153.0 France        1.302 %        3.7        3.7        1.5         8.2       36.9 Italy         1.499 %       23.4       39.9       21.3        29.0       95.5 Japan         0.260 %     -100.5     -100.5     -102.0       -96.3     -190.1 Netherlands   0.946 %      -31.9      -31.9      -50.9       -32.6       38.5 Portugal      1.228 %       -3.7       -3.7      -10.1         1.9       77.8 Spain         1.380 %       11.5       26.3       10.1        20.9       63.6 Sweden U.K.          0.882 %      -38.3      -38.7      -46.3       -46.3       29.8 U.S.          0.917 %      -34.8      -34.8      -35.4       -33.0     -112.3 Source: Thomson Reuters
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November 03, 2009 18:10 ET (23:10 GMT)

DJMN: 10-Yr Benchmark Govt Yields - U.S. vs Other Nations
Current     --------------  Spread in Basis Points  -----------               Yield       Today   Prev Day   Week Ago   Month Ago   Year Ago U.S.          3.469 % Australia     5.633 %      216.4      206.8      228.7       197.7      154.0 Austria       3.634 %       16.5       16.5       17.6        40.7       80.7 Belgium       3.679 %       21.0       21.0       22.2        45.7       83.8 Canada        3.428 %       -4.1       -3.8        3.8         4.0        2.2 Denmark       3.698 %       22.9       22.9       26.4        30.2       69.7 France        3.588 %       11.9       11.9       11.2        28.0       51.7 Germany       3.284 %      -18.5      -18.5      -16.0        -9.7        8.4 Italy         3.968 %       49.9       49.9       53.0        72.9      114.8 Japan         1.385 %     -208.4     -208.4     -198.6      -192.8     -217.5 Netherlands   3.557 %        8.8        8.8        9.5        24.9       63.3 Portugal      3.792 %       32.3       32.3       39.2        61.7      101.5 Spain         3.832 %       36.3       36.3       37.0        56.5       81.4 Sweden U.K.          3.723 %       25.4       25.7       20.0        21.9       76.5 Source: Thomson Reuters
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(END) Dow Jones Newswires
November 03, 2009 18:10 ET (23:10 GMT)

DJMN: 2-Yr Benchmark Govt Yields - U.S. vs Other Nations
Current     --------------  Spread in Basis Points  -----------               Yield       Today   Prev Day   Week Ago   Month Ago   Year Ago U.S.          0.917 % Australia     4.615 %      369.8      368.3      391.9       334.0      260.9 Austria       1.017 %       10.0       10.0       -2.6         5.5      152.0 Belgium       1.112 %       19.5       19.5       12.6        19.5      150.6 Canada        1.403 %       48.6       48.8       49.2        29.8       59.4 Denmark       2.361 %      144.4      144.4      142.2       135.9      265.4 France        1.302 %       38.5       38.5       36.9        41.2      149.3 Germany       1.265 %       34.8       34.8       35.4        33.0      112.3 Italy         1.499 %       58.2       74.7       56.7        61.9      207.8 Japan         0.260 %      -65.7      -65.7      -66.6       -63.3      -77.7 Netherlands   0.946 %        2.9        2.9      -15.5         0.4      150.8 Portugal      1.228 %       31.1       31.1       25.3        34.9      190.1 Spain         1.380 %       46.3       61.1       45.5        53.9      175.9 Sweden U.K.          0.882 %       -3.5       -3.9      -10.9       -13.3      142.1 Source: Thomson Reuters
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November 03, 2009 18:10 ET (23:10 GMT)

DJMN: PRESS RELEASE: Moody's Assigns Aa3 Rating To -3-
ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES. MIS DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT.  CREDIT RATINGS DO NOT CONSTITUTE INVESTMENT OR FINANCIAL ADVICE, AND CREDIT RATINGS ARE NOT RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES.  CREDIT RATINGS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR.  MIS ISSUES ITS CREDIT RATINGS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE. Copyright 2009, Moody's Investors Service, Inc. and/or its licensors and affiliates including Moody's Assurance Company, Inc. (together, "MOODY'S"). All rights reserved. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY COPYRIGHT LAW AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. All information contained herein is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, such information is provided "as is" without warranty of any kind and MOODY'S, in particular, makes no representation or warranty, express or implied, as to the accuracy, timeliness, completeness, merchantability or fitness for any particular purpose of any such information. Under no circumstances shall MOODY'S have any liability to any person or entity for (a) any loss or damage in whole or in part caused by, resulting from, or relating to, any error (negligent or otherwise) or other circumstance or contingency within or outside the control of MOODY'S or any of its directors, officers, employees or agents in connection with the procurement, collection, compilation, analysis, interpretation, communication, publication or delivery of any such information, or (b) any direct, indirect, special, consequential, compensatory or incidental damages whatsoever (including without limitation, lost profits), even if MOODY'S is advised in advance of the possibility of such damages, resulting from the use of or inability to use, any such information. The credit ratings and financial reporting analysis observations, if any, constituting part of the information contained herein are, and must be construed solely as, statements of opinion and not statements of fact or recommendations to purchase, sell or hold any securities. NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY SUCH RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY MOODY'S IN ANY FORM OR MANNER WHATSOEVER. Each rating or other opinion must be weighed solely as one factor in any investment decision made by or on behalf of any user of the information contained herein, and each such user must accordingly make its own study and evaluation of each security and of each issuer and guarantor of, and each provider of credit support for, each security that it may consider purchasing, holding or selling. MOODY'S hereby discloses that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MOODY'S have, prior to assignment of any rating, agreed to pay to MOODY'S for appraisal and rating services rendered by it fees ranging from $1,500 to $2,400,000. Moody's Corporation (MCO) and its wholly-owned credit rating agency subsidiary, Moody's Investors Service (MIS), also maintain policies and procedures to address the independence of MIS's ratings and rating processes. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities who hold ratings from MIS and have also publicly reported to the SEC an ownership interest in MCO of more than 5%, is posted annually on Moody's website at www.moodys.com under the heading "Shareholder Relations - Corporate Governance - Director and Shareholder Affiliation Policy." Moody's Investors Service Pty Limited does not hold an Australian financial services licence under the Corporations Act. This credit rating opinion has been prepared without taking into account any of your objectives, financial situation or needs. You should, before acting on the opinion, consider the appropriateness of the opinion having regard to your own objectives, financial situation and needs.
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(END) Dow Jones Newswires
November 03, 2009 18:09 ET (23:09 GMT)

DJMN: PRESS RELEASE: Moody's Assigns Aa3 Rating To -2-
to slightly increasing tuition levels for many years and then implementing large increases. For fall 2009, the annualized tuition increases are 14.3% for in-state undergraduate students and 21.3% for resident graduate programs and all non-resident students. Further, SUNY's tuition-setting authority is centralized for all campuses. Tuition levels are set by the Trustees, preventing individual campuses from setting their own tuition rates based on market conditions and their specific student population served and from potentially utilizing excess revenues. SUNY's ability to differentiate tuition setting at various campuses and implement incremental tuition increases more steadily would be a credit positive. SUNY receives significant levels of state support, with state operating appropriations representing over one-third of revenues. Although SUNY benefits from growth of state funding in FY 2005 through 2008, SUNY experienced a roughly $215 million cut in state operating support in FY 2009 (a 15% decline from FY 2008 levels received, prior to additional collective bargaining funding provided). In addition to a net $90 million reduction for FY 2010, the possibility of further cuts in state-funded university appropriations still exists. SUNY has responded to these cuts with the tuition increases mentioned above as well as across the board expenses containment at all campuses. Moody's maintains an Aa3 G.O. rating on the State of New York. For information on the state's G.O. rating, please ready Moody's report on the state published on June 1, 2009. The University operates significant-sized health care and research enterprises, including hospitals and academic medical centers located in Brooklyn (Downstate), Stony Brook, and Syracuse (Upstate). SUNY's hospitals serve a large number of Medicaid and uninsured patients, which has pressured the hospitals' operating performance. Past cash flow deficits at the hospitals resulted in roughly $200 million of borrowing from the state's short-term investment pool (STIP), which is expected to be repaid over the next few years; approximately $86 million is now outstanding. Management reports that the hospitals' operating performance has improved more recently, with an expectation that net asset levels increased at Stony Brook and Brooklyn in FY 2009, with a slight decline in net assets at the Upstate medical center. SUNY also has an extensive research portfolio, with the SUNY Research Foundation (Series 2002 bonds rated A1/VMIG1) serving as the fiscal administrator of sponsored research for SUNY. The majority of research is conducted at the University Centers and the health science centers. Although total research revenue for SUNY continues to grow, SUNY has experienced pressure on growth of federal research funding. Research expenditures were nearly $688 million in FY 2009. BALANCE SHEET POSITION: SIGNIFICANT CAPITAL NEEDS AND POTENTIAL FOR INCREASED BORROWING RESULTING IN LEVERAGE BALANCE SHEET; NET ASSETS DEPRESSED BY INVESTMENT LOSSES AND ONGOING RECOGNITION OF LARGE POSTRETIREMENT HEALTH LIABILITY Moody's believes that SUNY's balance sheet is relatively highly leveraged with $697 million of expendable financial resources (estimated at 6/30/2009) supporting $6.8 billion of pro-forma direct debt by 0.1 times. However, this pro-forma debt amount includes nearly $5.1 billion of Educational Facility Bonds, for which to-date debt service has largely been paid either directly by the state or via an appropriation from the state (see legal security described above). However, the Educational Facilities debt issued for the hospitals (approximately $200 million) is self-supporting with debt service reimbursed by the hospitals. Excluding Educational Facilities debt, SUNY's estimated expendable financial resources for FY 2009 would cover debt a stronger 0.4 times. Based on preliminary financial results for FY 2009, SUNY's financial resource base declined in FY 2009 to $1.4 billion from $2.2 billion in FY 2008 largely as a result of long-term investment losses as well as ongoing recognition of SUNY's large OPEB liability. The unfunded actuarial accrued liability was $9.56 billion as of the April 1, 2008 actuarial valuation date and will be recognized on SUNY's balance sheet over a 30-year timeframe per GASB 45 (Accounting and financial Reporting by Employers for Postemployment Benefits Other than Pensions). SUNY adopted GASB 45 in FY 2007. The $1.4 billion of total financial resources estimated in FY 2009 include resources of the fundraising foundations, research foundation and State University Construction Fund. This financial resource calculation also incorporates a $1.5 billion OPEB liability. SUNY is financing insurance premiums for its OPEB obligations on a pay-as-you-go basis and does not plan to fund the actuarial liability. SUNY's expected capital needs over the next five years are significant and will likely result in an accelerated pace of borrowing, via both Dormitory Facilities Bonds and State Personal Income Tax (PIT) Bonds sold for SUNY educational facilities and hospital capital programs. Management anticipates up to $1 billion of capital projects (including the current issuance) for the residential facilities. Issuance of debt for state operated academic and hospital facilities, under the State's PIT Bond financial program, will also likely be significant, with the 2008-2013 capital plan outlining more than $4 billion of additional capital projects. Moody's will continue to monitor SUNY's financial resources to cushion the debt as well as generation of new revenue streams to support heightened debt service responsibilities on the Dormitory Facilities Bonds. Roughly three-quarters of the facilities on the state-operated campuses are more than 30 years old. The system's age of plant calculation remains high at 12.5 years (calculated as accumulated depreciation divided by annual depreciation expense), but has improved over the past five years. Critical maintenance projects and infrastructure improvements remain a top priority of SUNY's capital investment plan. SUNY is in the midst of a comprehensive capital campaign (SUNY Challenge) with a target of raising $3 billion by 2012. Through FY 2008, the campaign had raised $2.245 billion towards this goal. In FY 2009, SUNY transferred approximately $288 million of investments from the SUNY endowment fund to the individual foundations which will oversee investment management of the funds going forward. Although this distribution marks a change in the overall investment oversight of SUNY's fund balances, we do not expect this shift to impact Moody's calculation of SUNY's total financial resource base, which also includes resources of the foundations and other component units. OUTLOOK: The stable outlook reflects our expectation that SUNY's operating cash flow (excluding non-cash expenses such as the non-cash portion of the annual OPEB expenses) will remain healthy and that the System's cash and investment balances will remain satisfactory, despite pressure on net asset values. Rapid increases in debt absent growth of investment levels and revenue to support debt service could pressure the rating longer-term. What could change the rating - UP Upgrade of the state coupled with significant growth of financial resources to better cushion anticipated debt What could change the rating - DOWN Deterioration of debt service coverage on the Dormitory Facilities Bonds; significant additional borrowing absent growth of resources or revenue to cover increased debt service; deterioration of state's credit profile and resulting pressure on state support for SUNY KEY INDICATORS (FY 2009 preliminary financial data and Fall 2009 preliminary enrollment data unless indicated): Total Full-Time Equivalent (FTE) enrollment: 193,697 (excluding community college enrollment) Fall 2008 freshmen selectivity at University Centers (Albany, Stony Brook, Binghamton, and Buffalo): 45.8% Fall 2008 freshmen matriculation at University Centers (Albany, Stony Brook, Binghamton, and Buffalo): 25.7% Total Financial Resources (including resources of fundraising foundations and other component units): $1.4 billion Total Pro-Forma Direct Debt: $6.8 billion Expendable Financial Resources-to-Pro Forma Debt: 0.1 times Expendable Financial Resources to Operations: 0.08 times Reliance on Student Charges: 22.8% Reliance on State Operating Appropriations: 37.5% RATED DEBT Dormitory Facilities Bonds: Aa3 underlying rating Educational Facility Revenue Bonds: A1 underlying rating Personal Income Tax Bonds: Aa3 underlying rating Athletic Facility Revenue Bonds: A1 underlying rating Research Foundation of SUNY Series 2002 Bonds: A1/VMIG1 (self-liquidity) CONTACTS SUNY: Daniel Esposito, SUNY Budget Office, 518-443-5171 Underwriter: John Carter, Siebert Brandford Shank & Co., LLC, 646-775-4881 or Andress Appolon, Siebert Brandford Shank & Co., LLC, 646-775-4857 METHODOLOGY The principal methodology used in rating State University of New York was Moody's Rating Methodology for Public Colleges and Universities published in November 2006 and available on www.moodys.com in the Rating Methodologies sub-directory under the Research & Ratings tab. Other methodologies and factors that may have been considered in the process of rating this issuer can also be found in the Rating Methodologies sub-directory on Moody's website. The last rating action was on September 9, 2009 when the Aa3 rating and stable outlook on SUNY's Dormitory Facilities Lease Revenue bonds were affirmed. ANALYSTS: Laura C. Sander, Analyst, Public Finance Group, Moody's Investors Service Kimberly S. Tuby, Backup Analyst, Public Finance Group, Moody's Investors Service CONTACTS: Journalists: (212) 553-0376 Research Clients: (212) 553-1653 CREDIT RATINGS ARE MIS'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:09 ET (23:09 GMT)

DJMN: PRESS RELEASE: Moody's Assigns Aa3 Rating To State University Of New York's $100 Million Of Series 2009A Dormitory Facilities Lease Revenue Bonds And Affirms Aa3 Rating On Outstanding Dormitory Facilities Bonds; Outlook Is Stable
The following is a press release from Moody's Investors Service: STATE UNIVERSITY OF NEW YORK WILL HAVE APPROXIMATELY $1.1 BILLION OF DORMITORY FACILITIES BONDS OUTSTANDING INCLUDING CURRENT OFFERING State University of New York, NY Dormitory Authority of the State of New York Higher Education New York Moody's Rating Issue                                                      Rating Series 2009A Dormitory Facilities Lease Revenue Bonds         Aa3   Sale Amount          $100,000,000   Expected Sale Date   11/10/09   Rating Description   Public University Revenue Bonds Moody's Outlook  - Stable NEW YORK, November 3, 2009 -- Moody's Investors Service has assigned a Aa3 rating to the State University of New York's (SUNY) $100 million Dormitory Facilities Lease Revenue Bonds, Series 2009A, issued through the Dormitory Authority of the State of New York (DASNY). With this issuance, SUNY will have approximately $1.0 billion of outstanding Dormitory Facilities Bonds. All series of bonds are fixed rate, except for $258.9 million of Series 2003B bonds that are in a term mode with fixed rates through 7/1/2013. The outlook on SUNY's Dormitory Facilities Bonds is stable. USE OF PROCEEDS: Bond proceeds will be used to finance new dormitory facilities or renovations to existing dormitory facilities at approximately 15 campuses, pay capitalized interest, and fund costs of issuance. LEGAL SECURITY: Security for the Dormitory Facilities Lease Revenue Bonds is provided by revenues and accumulated surpluses of the SUNY dormitory facilities that were and will be financed through DASNY, as well as all other legally available funds of the University. Thus, the obligation to pay Rentals under the Lease Agreement is essentially a general obligation of SUNY, payable from all of its legally available sources. SUNY pays all rents, fees, and charges of occupants of these residential facilities directly into a Dormitory Income Account (DIA), which is held by the State Comptroller separate from the State General Fund. Debt service payments are made from the DIA first on a gross basis. On a gross annual basis, revenues have typically provided over 5 times debt service coverage. DEBT-RELATED DERIVATIVES: None associated with the Dormitory Facilities Revenue Bonds. STRENGTHS *Large enrollment base (over 222,000 headcount enrollment and close to 194,000 full-time equivalent students estimated for fall 2009) enrolled at SUNY's 34 state-operated college and university campuses located across the state of New York; nearly 243,000 additional students (estimated for fall 2009) are enrolled at 30 community colleges which are sponsored by local counties (community college financial information is not consolidated within SUNY's audited financial statements); *Strong demand for student residential facilities (75,202 revenue-producing beds in fall 2008 with 96.7% occupancy rate), resulting in strong debt service coverage on Dormitory Facilities Bonds (room rental income has provided over five times gross coverage of annual debt service in each of the past eight fiscal years); *Large, diversified operating base (over $8 billion of annual operating revenues under Moody's methodology based on preliminary reports for FY 2009) with student charges comprising 23% of operating revenue, 15% grants and contracts, 38% state operating appropriations, and 21% health-care related revenue derived from SUNY's three medical centers in Stony Brook, Syracuse, and Brooklyn. CHALLENGES *Significant additional capital needs, including large pool of critical maintenance projects, which will likely result in accelerated borrowing over the next six years, including up to $1 billion of capital projects within the dormitory facility system (including the current issuance) as well as significant additional Educational Facilities debt for both academic facilities and hospitals; *Decline in SUNY's net asset levels as a result of investment losses sustained within the long-term investment pool during FY 2009 as well as ongoing recognition of large post-retirement health benefit liability (OPEB). SUNY's unrestricted net assets have declined in recent years and became negative in FY 2009. The unfunded actuarial accrued OPEB liability was $9.56 billion as of the April 1, 2008 valuation date and will be recognized on SUNY's balance sheet over a 30-year timeframe. *Pressure on state operating appropriations (state has a Aa3 general obligation rating), with cuts sustained in FY 2009 and 2010. In response, for spring 2009 SUNY implemented an across-the-board tuition increase for all students. For fall 2009, the annualized tuition increases are 14.3% for in-state undergraduate students and 21.3% for resident graduate programs and all non-resident students. We will continue to monitory the impact of these levels of tuition increases on in-and out-of-state student recruitment, and the potential for further cuts in state funding to weaken SUNY's overall operating performance. MARKET POSITION/COMPETITIVE STRATEGY: LARGE ENROLLMENT BASE DIVERSIFIED ACROSS MULTI-CAMPUS STATEWIDE SYSTEM Moody's expects that SUNY will maintain a stable market position as a leading provider of public higher education within New York and one of the state's largest employers. The SUNY system is relatively young compared to other public university systems in the U.S. and was established as the state's official university system in 1948. In June 2009, SUNY welcomed a new chancellor who is in the process of outlining a SUNY-wide strategic plan. SUNY enrolls nearly 465,000 students (preliminary headcount for fall 2009) across its 64 campuses. In fall 2009, an estimated over 222,000 students on a headcount basis (nearly 194,000 full-time equivalent students) were enrolled across the state-operated campuses (excluding the community colleges), which represents approximately 2% growth over the previous year. The SUNY system is comprised of a wide array of institutions which vary in size, have unique missions, and serve diverse student populations. These include four-year University Colleges, three academic medical centers, technology and community colleges, and four University Centers (Albany, Binghamton, Buffalo, and Stony Brook) which specialize in undergraduate education, research, and advanced graduate and professional degree offerings. On a consolidated basis, the University Centers are moderately selective, accepting 45.8% of freshmen applicants in fall 2008. Of those freshmen accepted at the University Centers, 25.7% chose to enroll in fall 2008, highlighting the competitive environment in which SUNY operates. The 30 SUNY community colleges are sponsored by their local counties, and the financial information for the community colleges is excluded from SUNY's consolidated audit. The SUNY statutory colleges are located on the campuses of Cornell University (rated Aa1) and Alfred University (rated Baa1). The statutory colleges receive state support and are jointly governed by SUNY and the partnering private institution. SUNY faces competition from private institutions within the state, CUNY (the City University of New York), the other public higher education system in New York, as well as the preponderance of higher education institutions in nearby northeastern states. Further, SUNY draws a significant portion of its student body from within the state (over 90% on a consolidated basis), which could present future challenges in light of demographic projections indicating a longer-term decline in the number of high school graduates in New York. SUNY has increased its focus on building its national and international visibility and attracting more students from outside of New York and internationally. OPERATING PERFORMANCE: TUITION INCREASES AND FOCUS ON EXPENSE CONTAINMENT IN RESPONSE TO RECENT CUTS IN STATE FUNDING; DEBT SERVICE COVERAGE ON DORMITORY FACILITY BONDS REMAINS STRONG Moody's anticipates that rental revenue generated by the residential facilities system will continue to provide strong gross coverage of debt service on Dormitory Facilities Bonds. The University's audited financial statements consolidate data for the universities, hospitals, the Research Foundation, and the State University Construction Fund, which administers SUNY's capital program. The audit excludes the operations of the community colleges. SUNY's revenue base continues to grow, exceeding $8.0 billion in FY 2009 based on preliminary financial results. Operations are well diversified, largely comprised of state appropriations (38%), student charges (23%), patient care revenue (21%), and grants and contracts (15%, excluding Pell grants). Although Moody's calculation of SUNY's operating performance had been close to breakeven during FY 2003-2007, the operating margin tightened in FY 2008, with a 5% operating deficit generated. Preliminary FY 2009 results indicate that the operating performance worsened in FY 2009, declining to a deficit of over negative 6%. Weakening of operating performance can be partly attributed to annual expense growth averaging nearly 8% over the past four years, including recognition of a large annual OPEB cost (between approximately $620 to $720 million in each FY 2008 and 2009). SUNY's dormitory system is large, including 75,202 revenue-producing beds in fall 2008 and generating $401 million of room rental revenue in FY 2009. Occupancy of these residential facilities has averaged over 96% during the past nine years ended FY 2008, contributing to strong debt service coverage on the Dormitory Facilities Bonds. Room rental income deposited into the Dormitory Income Account has provided over five times gross coverage of debt service. Net debt service coverage (after operating expenses of the dormitory system) has also been adequate. SUNY's combined tuition and mandatory fees remain relatively low, and unlike most other public university systems, SUNY has a history of maintaining flat
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:09 ET (23:09 GMT)

DJMN: Moody's Assigns Aa3 Rating To State University Of New York's $100 Million Of Series 2009A Dormitory Facilities Lease Revenue Bonds And Affirms Aa3 Rating On Outstanding Dormitory Facilities Bonds; Outlook Is Stable
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:09 ET (23:09 GMT)

DJMN: Officer/Dir THEODORE Surrenders 6,929 Of NYSE EURONEXT >NYX
SOURCE: Form 4 ISSUER: NYSE EURONEXT SYMBOL: NYX FILER: THEODORE JEAN FRANCOIS TITLE: Officer and Director DATE               TRANSACTION              SHARES       PRICE           VALUE 11/3/09            Surrender*                6,929      $25.50        $176,690 OWNERSHIP: 142,556 (Direct)  * - Insiders can surrender shares back to the company to pay taxes or cover      the cost of an option exercise.  The Form 4 is filed with the Securities and Exchange Commission by insiders  to report transactions in their companies' shares.  Open market purchases  and sales must be reported within two business days of the transaction. Insider Data Source: The Washington Service                     (info@washingtonservice.com or 301-913-5100)
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(END) Dow Jones Newswires
November 03, 2009 18:05 ET (23:05 GMT)

DJMN: Kraft Has Been Speaking With Hldrs, Assessing Financing
By Anjali Cordeiro   Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Kraft Foods Inc. (KFT) said it has been talking to its own and Cadbury PLC (CBY) investors and studying financing possibilities as it decides on its next move after its September takeover proposal for the U.K. confectioner.
"At this time we continue to review the opportunity by speaking with shareholders of both companies and [assessing] potential financing options," said Chief Executive Irene Rosenfeld on a conference call. Rosenfeld reiterated that her company will continue to maintain a "disciplined" approach in its bid and is well positioned "with or without Cadbury." The company faces a Nov. 9 deadline to make a formal offer for Cadbury. "As we said before, what we can afford is not relevant. What is relevant is what Cadbury is worth, and that will guide our actions going forward," Rosenfeld said.
The company said its investment in its brands is paying off and that it expects advertising related spending to be up this year. Kraft said it cut prices on some of its products, including cheese, in response to lower commodity prices.
-By Anjali Cordeiro, Dow Jones Newswires; 212-416-2200; anjali.cordeiro@dowjones.com

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November 03, 2009 18:04 ET (23:04 GMT)

DJMN: GM Unsure Whether Germany Will Recall Aid For Opel - Source
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:04 ET (23:04 GMT)

DJMN: Moody's: Approximately $2B In Cap Automotive Securities Affected
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)
November 03, 2009 18:04 ET (23:04 GMT)

DJMN: CORRECT: Discovery Communications 3Q Profit Down 25%
("Discovery Communications 3Q Profit Down 25% On Lower Margins," published at 4:15 p.m. EST, incorrectly reported ad revenue at U.S. networks fell 4.8%, in the seventh paragraph. A corrected version follows.)
  DOW JONES NEWSWIRES
Discovery Communications Inc.'s (DISCA) third-quarter profit slid a greater-than-expected 25% as the cable-television network operator posted lower margins, more than offsetting higher revenue.
Class A shares of Discovery, which raised the low end of its 2009 revenue outlook, fell 2.3% to $27.37 in after-hours trading. The stock has nearly doubled this year.
The parent of the Discovery family of channels, like many cable-TV outfits, isn't as hurt by the slowdown in advertising spending affecting most in the entertainment and media industry due to revenue from subscription fees. Discover generates about half of its revenue from cable providers' monthly fees, according to Fitch Ratings.
The company reported a profit of $101 million, or 22 cents a share, down from $134 million, or 44 cents a share, a year earlier. Revenue grew 1.1% to $854 million.
Analysts polled by Thomson Reuters projected earnings of 27 cents on revenue of $850 million.
Operating margin slid to 25.2% from 35% on higher selling and administrative costs.
Ad revenue rose 4.8% at Discovery's U.S. networks business in the latest quarter, and dropped 2.3% internationally.
Discovery Communications was formed last year as Discovery Holding Co. and Advance/Newhouse Programming Partnership combined their stakes in the cable channels, creating a new company. The lineup includes Discovery Channel, TLC and Animal Planet.

-By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com

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(END) Dow Jones Newswires
November 03, 2009 18:03 ET (23:03 GMT)

DJMN: Binani Cement Eyes Indonesia Coal Mine Buy In 2-3 Months - Report
DOW JONES NEWSWIRES

Binani Cement Ltd. (532849.BY) hopes to conclude the acquisition of a coal mine in Indonesia in the next two to three months, the Press Trust of India reported Tuesday, citing the company's managing director, Vinod Juneja.
The company is looking to acquire a mine that could provide 70%-80% of its coal requirements for a 10-20 year period, Juneja said, the PTI reported.
The company is also planning to invest INR8 billion in a 2.5 million metric tons a year plant in Gujarat, the PTI said.

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November 03, 2009 18:03 ET (23:03 GMT)

DJMN: PRESS RELEASE: Moody's Lowers Capital Automotive To Ba3; Outlook Remains Negative
The following is a press release from Moody's Investors Service: Approximately $2 billion in securities affected. New York, November 03, 2009 -- Moody's Investors Service today lowered the senior secured and corporate family rating of Capital Automotive LLC to Ba3 from Ba1, and assigned a B3 rating to the issuer's newly created subordinate debt. The ratings outlook remains negative. The rating agency acknowledges Capital Automotive's success in amending and extending its $2 billion credit agreement, particularly in the current economic climate. Nonetheless, significant challenges remain. Capital Automotive's high leverage (about 10.7x net debt/EBITDA), consisting almost entirely of secured debt, and the commensurate lack of unencumbered assets are substantial credit concerns. Moody's is also concerned that the issuer has very limited financial flexibility, with no access to public equity and senior unsecured debt. Asset sales will likely be required to meet near-term liquidity needs. Moreover, the portfolio is concentrated in speculative-grade tenants in an industry--automotive--which entails considerable uncertainty. Finally, in contrast to other types of commercial real estate, there exists little demonstrated alternative use for properties if they go dark. Moody's nonetheless believes Capital Automotive retains a number of important strengths, including consistently high occupancy (99% to 100%) and solid rent coverage (2x or better). The portfolio exhibits good diversity, in terms of brands, franchises and locations. The top tenants on Capital Automotive's roster consist of the largest dealer groups in the country, which are the most likely to survive and benefit from industry consolidation. These dealers are more focused in foreign manufacturers compared to the more troubled domestic car-makers, and they benefit from multiple income streams, divided between new and used sales, and repairs and maintenance. The issuer's pure triple-net model, with little capex and long-term leases is a strength, in Moody's view. Furthermore, state franchise and zoning laws create monopolies for store sites and use. The negative rating outlook reflects the company's highly-levered capital structure and very limited financial flexibility, as well as the financial restrictions of the refinancing and the uncertain future of the auto industry and the impact on auto dealerships. A return to a stable ratings outlook would depend upon Capital Automotive demonstrating sufficient liquidity to support operations for the next 24 months including paying down the portion of debt that was not extended as well as scheduled amortization of the credit facility. The issuer would also need to maintain steady earnings and fixed charge coverage ratios consistently above 1.3x, while reducing net debt/EBITDA to 10x. Moody's would likely lower Capital Automotive's ratings again should the company experience sustained deterioration in fixed charge coverage below 1.2x, portfolio rent coverages below 2x or a decline in leadership causing a 15% decline in EBITDA. Any unforeseen challenges arising in the automotive industry will also likely result in downward ratings pressure. The following ratings were lowered and remain on negative: Capital Automotive LLC -- Corporate family to Ba3 from Ba1; senior secured to Ba3 from Ba1. The following new rating was assigned with a negative outlook: Capital Automotive LLC -- B3 subordinated. Moody's last action with respect to Capital Automotive took place on February 2, 2009 when the ratings were affirmed with a negative outlook. Capital Automotive LLC is headquartered in McLean, Virginia and is solely focused on providing sale-leaseback capital to the automotive retail industry. The company has nearly $3.8 billion invested in over 550 automotive franchise facilities, and over 17.5 million square feet of buildings on more than 3,000 acres in 37 states and Canada. The principal methodology used in rating Capital Automotive was the Rating Methodology for REITs and Other Commercial Property Firms, published in January 2006 and available on www.moodys.com in the Rating Methodologies sub-directory under the Research & Ratings tab. Other methodologies and factors that may have been considered in the process of rating this issuer can also be found in the Rating Methodologies sub-directory on Moody's website. CREDIT RATINGS ARE MIS'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES. MIS DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT.  CREDIT RATINGS DO NOT CONSTITUTE INVESTMENT OR FINANCIAL ADVICE, AND CREDIT RATINGS ARE NOT RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES.  CREDIT RATINGS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR.  MIS ISSUES ITS CREDIT RATINGS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE. Copyright 2009, Moody's Investors Service, Inc. and/or its licensors and affiliates including Moody's Assurance Company, Inc. (together, "MOODY'S"). All rights reserved. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY COPYRIGHT LAW AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. All information contained herein is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, such information is provided "as is" without warranty of any kind and MOODY'S, in particular, makes no representation or warranty, express or implied, as to the accuracy, timeliness, completeness, merchantability or fitness for any particular purpose of any such information. Under no circumstances shall MOODY'S have any liability to any person or entity for (a) any loss or damage in whole or in part caused by, resulting from, or relating to, any error (negligent or otherwise) or other circumstance or contingency within or outside the control of MOODY'S or any of its directors, officers, employees or agents in connection with the procurement, collection, compilation, analysis, interpretation, communication, publication or delivery of any such information, or (b) any direct, indirect, special, consequential, compensatory or incidental damages whatsoever (including without limitation, lost profits), even if MOODY'S is advised in advance of the possibility of such damages, resulting from the use of or inability to use, any such information. The credit ratings and financial reporting analysis observations, if any, constituting part of the information contained herein are, and must be construed solely as, statements of opinion and not statements of fact or recommendations to purchase, sell or hold any securities. NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY SUCH RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY MOODY'S IN ANY FORM OR MANNER WHATSOEVER. Each rating or other opinion must be weighed solely as one factor in any investment decision made by or on behalf of any user of the information contained herein, and each such user must accordingly make its own study and evaluation of each security and of each issuer and guarantor of, and each provider of credit support for, each security that it may consider purchasing, holding or selling. MOODY'S hereby discloses that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MOODY'S have, prior to assignment of any rating, agreed to pay to MOODY'S for appraisal and rating services rendered by it fees ranging from $1,500 to $2,400,000. Moody's Corporation (MCO) and its wholly-owned credit rating agency subsidiary, Moody's Investors Service (MIS), also maintain policies and procedures to address the independence of MIS's ratings and rating processes. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities who hold ratings from MIS and have also publicly reported to the SEC an ownership interest in MCO of more than 5%, is posted annually on Moody's website at www.moodys.com under the heading "Shareholder Relations - Corporate Governance - Director and Shareholder Affiliation Policy." Moody's Investors Service Pty Limited does not hold an Australian financial services licence under the Corporations Act. This credit rating opinion has been prepared without taking into account any of your objectives, financial situation or needs. You should, before acting on the opinion, consider the appropriateness of the opinion having regard to your own objectives, financial situation and needs.
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(END) Dow Jones Newswires
November 03, 2009 18:03 ET (23:03 GMT)

DJMN: Moody's Lowers Capital Automotive To Ba3; Outlook Remains Negative
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:03 ET (23:03 GMT)

DJMN: 2nd UPDATE: US Chamber Backs Most Of Kerry-Graham Climate Plan
(Updates with environmentalist's comment, starting in 12th paragraph.)
  By Ian Talley   Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)--The U.S. Chamber of Commerce Tuesday said it supports most of the principles outlined in a bipartisan climate change proposal offered by Sens. John Kerry (D., Mass.) and Lindsey Graham (R., N.C.) and the organization is open to considering a federal cap on emissions as one possible legislative solution.
The comments, made in a letter to senators currently considering climate change legislation in the Environment and Public Works Committee, comes after several high-profile departures by members from the Chamber.
"This really is a game-changer," said Sen. Barbara Boxer (D., Calif.), one of the chief authors of Senate climate legislation, after reading the letter. "For them to say...they stand ready to work with us, this is a tremendous signal."
Chamber officials, however, were adamant that the principles outlined aren't a change in the organization's position, but long-stated policies.
Kerry and Graham last month penned an editorial calling for bipartisan climate change legislation that would include a market-based solution to cut greenhouse gases that would provide flexibility to emitters and without hindering competitiveness or driving jobs overseas. To bring on Republican support, the duo proposed incentives for new nuclear power, offshore oil drilling and "clean coal" technology.
In the letter to environment committee chairman Sen. Barbara Boxer, (D., Calif.) and ranking members Sen. James Inhofe, (R., Okla.), the chamber "commended" the Senator's editorial.
"The Chamber welcomes the call for a new conversation on how to address the issue and believes their editorial can serve as a solid, workable, commonsense foundation on which to craft a bill," wrote Bruce Josten, the Chamber's executive Vice President of Government Affairs, in the letter.
"Senators Kerry and Graham have set forth a positive, practical and realistic framework for legislation, one that echoes the core principles that the chamber embeds in all of its communications on climate policy," he said.
The organization came under heavy fire by environmental groups and some businesses after its officials challenged the Environmental Protection Agency's draft proposal finding greenhouse gas emissions are a threat to public health and welfare.
The Chamber says even though it believes the EPA's decision isn't founded on a full assessment of data, the organization hasn't challenged the science of climate change.
It has also drawn ire for a series of adds attacking climate legislation. Companies such as PG&E Corp. (PCG), PNM Resources Inc. (PNM) and Exelon Corp (EXC)--all of which stand to potentially benefit under climate legislation--say the Chamber hasn't been adequately representing their positions on climate change legislation. Duke Energy (DUK) which hasn't left the Chamber.
While Boxer hailed it as a change in at least posture, environmentalists were skeptical.
Pete Altman, climate campaign director for the Natural Resources Defense Council, said he interpreted the letter as an indication of the public pressure the Chamber's felt recently.
"While the Chamber's letter goes through the motions, it noticeably omits the key goal of reducing carbon emissions, and winds up with a litany of reasons why the Chamber will almost certainly stand in opposition to any actual legislation," he said.
"The true test will be whether the Chamber begins to engage in a sincere and constructive manner on this issue," Altman added.
One environmentalist, though, did express some optimism.
"We're delighted to see the Chamber recognize that there's a bipartisan path forward to a cap on emissions," said Tony Kreindler, a spokesman for the Environmental Defense Fund, one of the organizations that has been critical of the Chamber. "If they support it, that would be truly a first."
Josten, in an interview, said Kerry's and Graham's four principles, "essentially embodied all five of the chamber's principles that we have been communicating and articulating to Congress and the broader public for several years now."
For example, Josten pointed to a May 14, 2009 letter to federal lawmakers that called for "strong, sensible legislation to address global climate change that protects jobs and the economy while reducing greenhouse gas emissions." In that letter, the Chamber said it "does not, as a matter of policy, support or oppose any specific conceptual approach to address greenhouse gas emissions, including a cap-and-trade or carbon tax," but specifically warned against the EPA regulating emissions under the Clean Air Act.
Josten said the Chamber's particular concern with the House-passed climate bill was its "attempts to take a lot of fossil fuel offline, and it does very little to bring any of these alternatives or nuclears online."
Asked if his organization would consider a cap-and-trade mechanism as currently being considered, Josten said, "Absolutely."
With members who favor different solutions, "We haven't taken a position on either carbon tax or cap and trade, so we're open to that."
"I don't think that a clear consensus has evolved in the business community," he added.
The one concept the Chamber objected to in the Kerry-Graham editorial was a proposed tariff on emission-intensive imports, a measure they say could provoke major trade retaliations. It's also a provision the Obama administration has criticized for the same reason.

-By Ian Talley, Dow Jones Newswires; 202-862-9285; ian.talley@dowjones.com

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(END) Dow Jones Newswires
November 03, 2009 18:01 ET (23:01 GMT)

DJMN: Fitch Affirms 2 CIT Equipment Collateral Securitizations; Revises Outlooks
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:00 ET (23:00 GMT)

DJMN: PRESS RELEASE: Fitch Affirms 2 CIT Equipment Collateral Securitizations; Revises Outlooks
The following is a press release from Fitch Ratings:
Fitch Ratings-New York-03 November 2009: Fitch Ratings has affirmed and revised the Rating Outlook on two classes of CIT Equipment Collateral 2008-VT1. In addition, Fitch affirms 7 classes of two CIT Equipment Collateral securitizations.
Fitch has affirmed the following ratings:
CIT EC 2006-VT2
--Class A-4 at 'AAA'; Outlook Stable;
--Class B at 'AAA'; Outlook Stable;
--Class C at 'AA'; Outlook Stable;
--Class D at 'A';  Outlook Stable;
CIT EC 2008-VT1
--Classes A-2a, A-2b, and A-3 at 'AAA'; Outlook Stable;
--Class B at 'AA'; Outlook Stable;
--Class C at 'A'; Outlook to Negative from Stable;
--Class D at 'BBB'; Outlook to Negative from Stable.
The affirmations reflect increasing levels of credit enhancement available to all classes due to the deleveraging of the transactions. Based on Fitch's review, current credit support remains sufficient for the notes at the current rating levels, despite a continued steady pace of delinquencies and losses. As of the October 2009 reporting period, total delinquencies represented 5.98% and 4.98% of the 2006-VT2 and 2008-VT1 transactions, respectively. Cumulative net losses total 2.16% and 1.76%, respectively.
The Outlook revisions on the class C and D notes in the 2008-VT1 transaction reflect the higher than expected loss pace relative to prior transactions and Fitch's initial base case expectation. Additionally, Fitch believes the potential exists for further asset deterioration following the bankruptcy filing of CIT Group, Inc., and CIT Group Funding Company of Delaware, LLC, on Nov. 1, 2009. CIT Financial USA, an operating subsidiary of CIT Group, Inc., is the issuer and current servicer on the transactions, and was not included as part of the filing. Although Fitch believes the servicing of transactions will be minimally affected, delinquencies and losses could increase following the bankruptcy filing which may affect available credit support, and ultimately, the outstanding ratings on the more subordinate notes. Fitch has been in communication with the trustee and the servicer, and will continue to keep corresponding with the associated parties to assess the current situation and potential impact on the transactions.
Fitch will continue to closely monitor these transactions and may take additional rating action in the event of changes in performance and credit enhancement measures.
These ratings reflect the application of Fitch's current criteria which are available on Fitch's web site at 'www.fitchratings.com' and specifically include:
--'Rating Criteria for U.S. Equipment Lease and Loan Securitizations' dated June 16, 2008;
--'Global Structured Finance Rating Criteria' dated Sept. 30, 2009.
Contact: Juveria Mozaffar +1-312-606-2335, or Du Trieu +1-312-368-2091, Chicago.
Media Relations: Sandro Scenga, New York, Tel: +1 212-908-0278, Email: sandro.scenga@fitchratings.com.
Additional information is available at 'www.fitchratings.com'.
ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS.  PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS.  IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'.  PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES.  FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.
 
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November 03, 2009 18:00 ET (23:00 GMT)

DJMN: Calendar of Junk Debt: NCL Corp $450M Sr Sec 7-Year Notes
===========Confirmed Pending High-Yield Issues===========
NCL Corporation Ltd - $450 million senior secured notes due 2016. Via Deutsche Bank, Barclays Capital, Citigroup and JPMorgan Chase & Co. Pricing expected: Nov. 2 week.

Virgin Media Finance - $500 million senior 10-year notes. Via Deutsche Bank. Pricing expected: Nov. 4.

General Maritime - $300 million in senior notes due 2017. Via JPMorgan Chase & Co. Pricing expected: Nov. 5.

Viasystems Inc. - $220 million senior secured notes due 2015. Via Goldman Sachs. Pricing expected: N/A.
=========High-Yield Debt On The Horizon============
Tenneco Inc. - filed a universal shelf registration covering both debt and stock that gives the company the ability to issue new shares and bonds in the future. Pricing expected: N/A.

Altra Inc. - $130 million in senior secured 144A notes due 2018. Pricing expected: N/A.

General Moly - $540 million in notes. Pricing expected: N/A.

-By Michael Aneiro, Dow Jones Newswires; 212-416-2203; michael.aneiro@dowjones.com

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(END) Dow Jones Newswires
November 03, 2009 18:00 ET (23:00 GMT)

DJMN: Calendar Of Investment-Grade Debt: Agency Bills
==========High-Grade Debt Week Of November 2===============
Fannie Mae: Three- and six-month benchmark bills are auctioned on a weekly basis. One-year bills are auctioned once a month. Every Monday, an announcement is made and on Wednesday the auctions are held. Settlement usually scheduled for Wednesday or Thursday.

Freddie Mac: Three- and six-month benchmark bills are auctioned on a weekly basis. One-year bills are auctioned once a month. Every Friday, an announcement is made and on Monday the auctions are held.
=========Investment-Grade Debt On The Horizon============
There are no issues firmly scheduled.
=========Upcoming Agency Bill Pricings=================== NOVEMBER ISSUES: Freddie Mac  Nov 9 Fannie Mae   Nov 12 Freddie Mac  Nov 16 Fannie Mae   Nov 18 Freddie Mac  Nov 23 Fannie Mae   Nov 25 Freddie Mac  Nov 30 DECEMBER ISSUES: Fannie Mae   Dec 2 Freddie Mac  Dec 7 Fannie Mae   Dec 9 Freddie Mac  Dec 14 Fannie Mae   Dec 16 Freddie Mac  Dec 21 Fannie Mae   Dec 23 Freddie Mac  Dec 28 Fannie Mae   Dec 30
-By Romy Varghese, Dow Jones Newswires; 215-656-8263; romy.varghese@dowjones.com

(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 18:00 ET (23:00 GMT)

DJMN: PRESS RELEASE: TRIS Affirms Thai Union Frozen Products At A+
Following is the press release from TRIS Rating.

BANGKOK, November 4--TRIS Rating Co., Ltd. has affirmed the company and issue ratings of Thai Union Frozen Products PLC (TUF) at "A+" with "stable" outlook.
The ratings reflect a strong market position as one of the world's leading tuna processors, product and geographic diversity, and solid valuable "Chicken of the Sea" canned tuna brand.
The ratings also take into consideration TUF's proven track record in the seafood business and conservative business expansion policy.
These factors are partially offset by maturity of the canned tuna industry in the US, high exposure to tuna price fluctuations, and threats from manufacturers in low-cost countries, as well as the implementation of import trade barriers by major trading countries, and Thai baht fluctuations.
The "stable" outlook reflects TRIS Rating's view that TUF will continue to maintain its competitive strength through economies of scale and production efficiency. The company is expected to take a conservative approach in expanding its business operations.
TRIS Rating reported that TUF is Thailand's leading processor and exporter of canned and frozen seafood products with revenue in 2008 at Bt69,048 million. As of November 2009, TUF's canned tuna production capacity was 400,000 tonnes per annum, making it one of the top tuna processors in the world.
Its supply chain has been strengthened through the integration of packaging and distribution networks. The company product portfolio is highly diverse.
For the first nine months of 2009, canned tuna generated the largest revenue, about 44% of total sales in US dollar terms, followed by frozen shrimp at 19%, canned seafood at 9%, and canned pet food at 9%. The company primarily exports to the US (50%), Europe (13%), and Japan (11%).
Management has an experience of over two decades in the seafood processing industry. The company has a solid canned tuna brand, "Chicken of the Sea", as the third-largest brand of canned tuna in the US. The full acquisition of the brand in 2001 almost doubled the company's revenue base, as well as facilitated production and distribution efficiency.
The brand strength also enables the company to capitalize on and introduce value-added products. TRIS Rating said that TUF's financial profile for the first nine months of 2009 improved from the past two years.
Falling and more stabilized tuna prices have alleviated pressures on operating margins and cash flow generations.
For the first nine months of 2009, operating margin was 7.6%, up from 5.6% in 2008. Debt to capitalization ratio as of September 2009 was 44.7%, improved from 52.0% in 2008.
Liquidity measures remain strong. Earnings before interest, tax, depreciation, and amortization (EBITDA) interest coverage for the first nine months of 2009 was 9.3 times. TUF's financial performance should continue to face challenges in tuna prices and baht fluctuations for some times.
However, cash flow is not expected to be severely impacted given a broad diversification and inexpensive product offerings, said TRIS Rating.
Thai Union Frozen Products PLC (TUF) Company Rating: Affirmed at A+ Issue Ratings: TUF10NA: THB1.5B senior bonds due 2010: Affirmed at A+ TUF116A: THB3.2B senior bonds due 2011: Affirmed at A+ TUF13NA: THB500M senior bonds due 2013: Affirmed at A+ Rating Outlook: Stable
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(END) Dow Jones Newswires
November 03, 2009 18:00 ET (23:00 GMT)

DJMN: News Highlights: Top Economic Stories Of The Day
TOP STORIES BUFFETT BETS ON US ECONOMY WITH BURLINGTON NORTHERN
Warren Buffett will buy the 77% of railroad he doesn't already own in a cash and stock deal that values the company at about $34 billion. Berkshire plans 50-for-1 split of its Class B stock to go along with its biggest deal ever. See full coverage.
US GOVT ANNOUNCES INVESTMENT IN TOXIC-ASSET PROGRAM
The U.S. Treasury Department announced that another investment fund has met the necessary requirements and is prepared to partner with the federal government to purchase soured real-estate related assets.
FORD BONDS SEEN PRICING WITH 4%-4.5% COUPON
Ford Motor is expected to price $2 billion of seven-year convertible bonds, according to two people familiar with the matter. If there is sufficient demand for the issue, the company will upsize the deal to $2.3 billion.
OBAMA FACES GRIM DATA THIS WEEK
A grim picture is likely to emerge this Friday when the federal government releases unemployment data. The White House will be asked why the unemployment rate is marching to 10% despite the seeping $787 billion stimulus program.
DEFAULT SWAPS CONTRACTS TRIGGERED BY CIT
Committee of derivatives experts says default protection contracts have been triggered by bankruptcy filing of CIT Group. According to data from DTCC, settlement targets 6,638 contracts outstanding as of Oct. 23, worth a net $3.1 billion.
G-20 EXPECTED TO DISCUSS GLOBAL REBALANCING
Discussions at the Group of 20 are expected to include crisis exit strategies, financial sector regulatory reform and macroeconomic developments, as well as lay a foundation for rebalancing the world's economy.
US STOCKS END MIXED, BUT TRANSPORTS RALLY
A buyout by Warren Buffett's Berkshire Hathaway has Burlington Northern and a bevy of other transport stocks rallying although analyst-induced declines for Intel, SanDisk and other chip stocks keeps any market gains muted.
UBS DISAPPOINTS AMID RIVALS' STRONG RESULTS
Swiss banking giant UBS reports disappointing 3Q figures, as its key private-banking division fails to show signs of a turnaround and management signals that it won't soon stem an outflow of its wealthy clients' assets.
US FACTORY ORDERS RISE MORE THAN EXPECTED
U.S. factory goods orders rise 0.9% in September, more than Wall Street had expected. Non-defense capital goods orders excluding aircraft rise 1.8% during September. The orders are seen as a barometer of capital spending.
IBM LAUNCHES $2 BLN IN 2-PART NOTES
International Business Machines launches $2 billion in notes, according to sources. The $750 million two-year floating-rate note was launched at 4 basis points over three-month Libor.
  ======== DOW JONES NEWSWIRES ANALYSIS AND COMMENTARY ======== BUFFETT BETS ON US ECONOMY
Paul Vigna and Madeleine Lim discuss Berkshire Hathaway's purchase of the remaining interest it didn't yet own in Burlington Northern. They also discuss Johnson & Johnson job cuts, and 3Q figures from UBS.
Emerging Market Debt EMERGING MARKET DEBT SLIPS
Emerging market bonds decline as risk appetite subsides with slumping U.S. stock markets. Volatile markets over the last couple of weeks have undermined support for developing-world debt.
Rate Futures Report HEDGING BETS IF FED SIGNALS BIG CHANGE
An unusually large number of options trades are signaling that market participants are either hoping to profit from, or reduce potential losses in case the Fed indicates that rate hikes will come at a quicker-than-expected pace.
Heard on the Street BUFFETT'S UNUSUAL TRAIN OF THOUGHT
For a septuagenarian, Warren Buffett still throws a wicked curve ball. The Berkshire CEO is known for seeking out unloved gems, but Burlington Northern has largely kept pace with the market rally since March's lows, Liam Denning writes.
 ============ MARKETS ACTION ============ LONGER-DATED TREASURYS PRICES DOWN BEFORE SUPPLY DETAILS, FOMC
Longer-dated Treasurys fall before supply details, FOMC outcome.
US STOCKS HELPED BY RALLYING TRANSPORTS
Shares end mixed, but Burlington Northern and other transport stocks rally.
DOLLAR STRONGER AS US STOCKS DIP
Dollar is stronger, holding onto gains vs. euro, on weakness in U.S. equities.
NY GOLD HITS RECORD HIGH AFTER RBI PURCHASE
Gold hits record high after RBI purchase.

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(END) Dow Jones Newswires
November 03, 2009 18:00 ET (23:00 GMT)

DJMN: DOW JONES GLOBAL INDEXES - N. AMERICAN GROUPS
(Index values based on U.S. dollars; based on ICB universe)                 World    Net    Pct  Americas   Net    Pct                 Index    Chg    Chg  Index      Chg    Chg BASIC MATRLS    267.58   0.78   0.29   288.57   8.28   2.95 Chemicals       246.76  -0.92  -0.37   236.82   2.17   0.92 Commodity Chm  219.51  -1.04  -0.47   159.08   0.86   0.54 Specialty Chm  248.66  -0.74  -0.30   374.36   4.73   1.28 Forest & Paper   84.25  -0.53  -0.63   106.66   0.79   0.75 Forestry        80.78  -0.17  -0.21   127.71   0.47   0.37 Paper           83.75  -0.56  -0.66   101.86   0.84   0.83 Indus Metals    225.84   0.57   0.25   361.32   9.16   2.60 Aluminum       144.94  -1.09  -0.75   138.34   2.02   1.48 N-Ferrous Mtl  321.47   0.55   0.17   418.60   8.19   2.00 Steel          207.31   0.77   0.37   476.30  14.04   3.04 Mining          468.25   4.81   1.04   357.12  20.20   6.00 Coal           425.34   0.76   0.18   387.36  11.10   2.95 Diamnd & Gems   22.41   1.18   5.56    23.50   1.24   5.57 Genrl Mining   625.09  -5.47  -0.87   693.66  29.68   4.47 Gold Mining    346.68  16.28   4.93   260.68  16.45   6.74 Plt & PcsMtls  208.54   3.73   1.82   174.64  14.22   8.86 CONSUMER GOODS  256.59  -2.22  -0.86   274.91  -0.64  -0.23 Auto & Parts    224.98  -2.17  -0.96   129.40  -0.14  -0.11 Auto           248.73  -3.13  -1.24    88.39  -1.34  -1.49 Auto Parts     165.17  -0.20  -0.12   156.49   0.99   0.64 Tires          211.57  -2.17  -1.02    47.66   1.56   3.38 Beverages       293.47  -3.02  -1.02   361.20  -2.91  -0.80 Brewers        380.54  -4.24  -1.10   775.54   0.20   0.03 Distillers     118.18  -1.37  -1.15    84.76  -0.45  -0.53 Soft Drinks    295.09  -2.78  -0.93   315.44  -2.88  -0.90 Food Producers  230.72  -2.61  -1.12   195.74   0.50   0.26 Farm & Fish    265.12  -1.77  -0.66   106.43  -0.53  -0.50 Food Products  236.68  -2.79  -1.17   210.98   0.84   0.40 Househld Goods  232.80  -0.65  -0.28   321.53   0.61   0.19 Durable        107.25   2.40   2.29    98.57   6.17   6.68 Nondurable     426.31  -3.84  -0.89   433.40  -3.75  -0.86 Furnishings    110.10   1.37   1.26   134.52   3.56   2.72 Home Constr     86.55  -0.31  -0.36   308.74   3.67   1.20 Leisure Goods   123.09  -0.22  -0.18   158.32   0.74   0.47 Consumer Elec  113.18  -0.43  -0.38   182.19   2.10   1.17 Recrtnl Prods  121.00   0.16   0.13    79.77   0.92   1.17 Toys           149.76   0.03   0.02   235.24   0.28   0.12 Personal Goods  225.13  -2.15  -0.95   246.81  -1.12  -0.45 Cloth & Accs   118.12  -1.27  -1.06   129.17   0.85   0.66 Footwear       418.45   1.84   0.44   317.17   1.68   0.53 Personl Prods  395.54  -4.76  -1.19   342.23  -3.60  -1.04 Tobacco         373.57  -3.16  -0.84   389.33  -2.61  -0.67 CONSUMER SVCS   187.99  -0.22  -0.12   261.69   0.61   0.23 Food Drug Rtl   272.05  -0.52  -0.19   313.94  -0.19  -0.06 Drug Retailer  341.08  -0.85  -0.25   447.76  -0.96  -0.21 Food Rtl&Whl   242.02  -0.38  -0.16   219.80   0.50   0.23 Genrl Retailer  231.13  -0.34  -0.15   309.80  -0.20  -0.06 Apparel Rtlrs  329.51  -0.17  -0.05   348.64   1.88   0.54 Braodln Rtlrs  221.61  -0.70  -0.31   354.49  -1.84  -0.52 Hom Imp Rtlrs   67.38  -0.39  -0.58    62.25  -0.24  -0.38 Consumer Svc   293.76   0.14   0.05   447.16   0.31   0.07 Special Rtlrs  253.75   1.09   0.43   351.65   2.18   0.62 Media           199.02  -0.53  -0.27   230.69   1.07   0.47 Broad&Entmnt   215.44  -0.59  -0.27   281.12   1.00   0.36 Media Agency   207.02  -0.49  -0.24   247.19   2.67   1.09 Publishing     197.08  -0.53  -0.27   171.59   1.50   0.88 Trvl & Leisure  160.73   0.22   0.14   269.91   2.55   0.95 Airlines        74.74   0.15   0.20    58.22   0.85   1.48 Gambling       252.17   1.54   0.61   318.55  10.11   3.28 Hotels         184.26   0.38   0.21   353.80   8.04   2.33 Rec Services    57.09  -0.34  -0.59    49.26  -0.22  -0.44 Restaurants    298.33   0.22   0.07   420.64   1.27   0.30 Trvl & Toursm  100.39   0.11   0.11    98.62   1.25   1.28 FINANCIAL       169.20  -1.96  -1.15   295.08   2.30   0.79 Banks           145.36  -2.30  -1.56   284.87   2.56   0.91 Nonlife Ins     170.82  -1.75  -1.01   207.37   1.01   0.49 Full Line Ins  122.98  -2.60  -2.07    36.11   1.96   5.74 Ins Brokers    101.50  -0.51  -0.50    92.38  -0.27  -0.29 Prop & Cs Ins  219.40  -0.60  -0.27   263.88   0.17   0.06 Reinsurance    110.74  -1.06  -0.95    97.37   0.64   0.66 Life Insurance  261.52  -1.48  -0.56   473.62   7.41   1.59 Real Estate       0.00   0.00   0.00     0.00   0.00   0.00 Real Est Dev     0.00   0.00   0.00     0.00   0.00   0.00 REITs            0.00   0.00   0.00     0.00   0.00   0.00 Genrl Finance   231.73  -0.96  -0.41   400.16   0.62   0.16 Asset Manager  108.29  -0.60  -0.55   109.17  -0.36  -0.33 ConsmrFinance   52.77  -0.06  -0.11    63.10   0.04   0.06 Spec Finance    93.58  -0.47  -0.50   109.47   2.10   1.96 Invest Svcs    224.12  -0.77  -0.34   540.53   0.56   0.10 Mortg Finance    4.29  -0.09  -2.05     3.95   0.06   1.54 HEALTHCARE      294.67  -1.01  -0.34   286.67   0.22   0.08 Hlth EquipSvcs  374.75   1.26   0.34   355.92   1.55   0.44 Health Prvd    461.93   7.02   1.54   448.25   6.86   1.55 Medical Equip  365.54  -1.50  -0.41   388.86  -1.22  -0.31 Medic Suppls   396.91  -1.48  -0.37   368.98  -1.22  -0.33 Pharm & Biotch  272.00  -1.62  -0.59   261.92  -0.33  -0.13 Biotechnology  471.82   6.80   1.46   493.44   8.69   1.79 Pharmaceutcls  254.57  -2.36  -0.92   222.94  -1.62  -0.72 INDUSTRIAL      175.58   0.07   0.04   234.01   3.53   1.53 Const & Matrls  134.01  -1.35  -1.00   230.83   1.88   0.82 Blg Material   156.12  -1.29  -0.82   195.99   1.26   0.65 Hvy Construct  108.59  -1.29  -1.17   320.87   3.34   1.05 Aero & Defense  378.89  -0.10  -0.03   417.53   1.25   0.30 Aerospace      401.86   0.82   0.20   449.33   2.46   0.55 Defense        108.17  -0.37  -0.34   105.24  -0.09  -0.09 Genrl Indus     172.09  -1.15  -0.66   214.93  -0.30  -0.14 Contnrs & Pkg  110.83   1.08   0.98   147.95   3.34   2.31 Dvrsfd Indus   180.18  -1.66  -0.91   214.25  -1.09  -0.51 E & E Equip     168.30  -0.08  -0.05   128.89   1.64   1.29 Elec Componts  123.83  -0.38  -0.31   115.74   1.75   1.54 Electrc Equip  255.70   0.86   0.34   146.92   1.58   1.09 Indus Engineer  187.99  -0.26  -0.14   671.64  15.50   2.36 Comm V & T     344.46   1.12   0.33   764.78  17.25   2.31 Indus Machine   95.66  -0.38  -0.40   195.67   4.63   2.42 Indus Transp    193.54   4.82   2.55   392.01  20.86   5.62 Delivery Svcs  408.13   0.75   0.18   444.00   3.65   0.83 Marine Transp  167.64  -1.49  -0.88   135.48   0.06   0.04 Railroads      261.68  22.18   9.26   570.06  49.76   9.56 Transp Svcs    229.83  -1.19  -0.52   136.76   3.63   2.73 Trucking       151.15   1.80   1.21   362.67   6.94   1.95 Support Svcs    143.03   0.17   0.12   138.85   1.03   0.75 BussSupp Svcs  154.60   0.05   0.03   166.08   1.80   1.10 Buss Training   85.19  -0.20  -0.23    81.90   0.35   0.43 Financl Admin  108.03   0.86   0.80   107.07   0.92   0.87 Indus Supply   125.00   0.02   0.02   120.82   1.11   0.93 WsteDisp Svcs  106.09  -0.11  -0.10    97.14  -0.08  -0.08 OIL & GAS       429.78  -0.37  -0.09   562.21   7.17   1.29 Oil & Gas Prod  434.13  -1.65  -0.38   576.22   5.63   0.99 Explr & Prod   550.97   3.60   0.66   742.30  15.70   2.16 Int Oil & Gas  427.90  -3.59  -0.83   504.27   1.12   0.22 Oil EqSvc&Dist  422.79   7.21   1.73   488.22  11.74   2.46 Oil EquipServ  406.90   7.50   1.88   503.44  13.44   2.74 Pipelines      527.03   4.94   0.95   432.38   4.92   1.15 TECHNOLOGY      363.25  -0.80  -0.22   513.32  -0.22  -0.04 Soft Comp Svcs  565.46  -1.68  -0.30   639.40   0.05   0.01 Computer Svcs   87.07   0.03   0.03    85.90   0.80   0.94 Internet Svcs  255.71  -0.04  -0.02   374.60   1.52   0.41 Software       531.32  -3.12  -0.58   583.61  -3.33  -0.57 Tech Hrd Equip  309.80  -0.52  -0.17   441.67  -0.37  -0.08 Computer Hard  414.31  -0.86  -0.21   617.29  -1.92  -0.31 ElecOff Equip  282.32   0.52   0.18   151.61   1.17   0.78 Semiconductor  707.33  -5.36  -0.75   907.03 -12.57  -1.37 Telecom Equip  211.07   1.00   0.48   431.91   5.06   1.19 TELECOMM        206.96  -2.64  -1.26   145.96  -0.27  -0.18 Fixed Ln Comm   165.24  -2.41  -1.44   140.28  -0.81  -0.57 Mobile Comm     448.83  -4.44  -0.98   245.60   3.94   1.63 UTILITIES       184.28  -1.40  -0.75   151.26   0.09   0.06 Electricity     174.95  -0.97  -0.55   155.54  -0.07  -0.04 GasWtr & Multi  205.58  -2.22  -1.07   138.66   0.48   0.35 Gas Distrib    174.62  -0.17  -0.10   126.88   1.04   0.83 Multiutility   132.11  -2.20  -1.64    92.43  -0.17  -0.18 Water          244.36  -0.89  -0.36   481.34   5.06   1.06 Source: Dow Jones Indexes
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(END) Dow Jones Newswires
November 03, 2009 17:56 ET (22:56 GMT)

DJMN: DOW JONES GLOBAL INDEXES - LAGGERS
Lagging Industry Groups            and Weakest Stocks in Each Group (Index values based on U.S. dollars; based on ICB universe; all stock prices are in local currency)                                 Index/       Net   Percent                              Stk Price    Change    Change Full Line Insurance              122.98     -2.60     -2.07  WienerStad(AT)                  37.30     -2.70     -6.75  UnipolAss pf(IT)                 0.63     -0.02     -3.08  AXA(FR)                         16.40     -0.49     -2.90 Mortgage Finance                   4.29     -0.09     -2.05  FidNatTitle(US)                 13.65     -0.02     -0.15  HmCApGrpB(CA)                   38.68      1.19      3.17  MGIC Inv(US)                     4.26      0.33      8.40 Multiutilities                   132.11     -2.20     -1.64  GallantVen(SG)                   0.29     -0.02     -6.45  Hera(IT)                         1.50     -0.04     -2.60  EVN(AS)                         12.51     -0.28     -2.19 Banks                            145.36     -2.30     -1.56  AlliedIrishBks(IR)               1.45     -0.23    -13.69  GovernorBkIre(IR)                1.41     -0.19    -11.88  RoyalBnkofScot(UK)               0.36     -0.03     -7.69 Fixed Line Telecommunications    165.24     -2.41     -1.44  TIME dotCom(MA)                  0.42     -0.02     -4.55  TelAustria(AS)                  11.32     -0.46     -3.90  TelcomItRnc(IT)                  0.75     -0.03     -3.85 Automobiles                      248.73     -3.13     -1.24  BayMotorn(GR)                   21.28     -1.46     -6.42  BMW(GR)                         31.50     -2.11     -6.28  DaimlerChrys(GR)                31.58     -1.46     -4.42 Personal Products                395.54     -4.76     -1.19  UnilevIndo(IN)               10300.00   -400.00     -3.74  OceanGrp(SG)                     0.34     -0.01     -2.86  NaturalBea(HK)                   1.29     -0.03     -2.27 Heavy Construction               108.59     -1.29     -1.17  StrabagSE(AT)                   19.19     -1.26     -6.16  TaeYoungCorp(SK)              4505.00   -295.00     -6.15  Highwealth(TW)                  40.15     -2.00     -4.74 Food Products                    236.68     -2.79     -1.17  IllovoSugar(SA)                 33.40     -2.31     -6.47  JGSummit(PH)                     6.10     -0.30     -4.69  IndoAgri(SG)                     1.65     -0.08     -4.62 Distillers & Vintners            118.18     -1.37     -1.15  BrownFormn A(US)                51.05     -0.67     -1.30  PernodRicrd(FR)                 57.14     -0.70     -1.21  BrownForman B(US)               48.58     -0.55     -1.12
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(END) Dow Jones Newswires
November 03, 2009 17:56 ET (22:56 GMT)

DJMN: DOW JONES GLOBAL INDEXES - LEADERS
Leading Industry Groups           and Strongest Stocks in Each Group (Index values based on U.S. dollars; based on ICB universe; all stock prices are in local currency)                                 Index/       Net   Percent                              Stk Price    Change    Change Railroads                        261.68     22.18      9.26  BurlNthSF(US)                   97.00     20.93     27.51  AmerLatLog(BZ)                   2.17      0.17      8.50  UnPacific(US)                   59.41      4.35      7.90 Diamonds & Gemstones              22.41      1.18      5.56  HarryWinstDiamCo(CA)             9.72      0.46      4.97 Gold Mining                      346.68     16.28      4.93  SeabrGold(CA)                   25.00      2.81     12.66  IAMGOLD(CA)                     16.12      1.81     12.65  NovaGldRes(CA)                   5.31      0.58     12.26 Durable Household Products       107.25      2.40      2.29  BlackDeck(US)                   62.00     14.66     30.97  StanleyWks(US)                  49.69      4.54     10.06  TechTronic(HK)                   6.72      0.44      7.01 Oil Equipment & Services         406.90      7.50      1.88  HerculesOff(US)                  5.12      0.32      6.67  SuperiorEngy(US)                23.15      1.43      6.58  RowanCos(US)                    24.83      1.46      6.25 Platinum & Precious Metals       208.54      3.73      1.82  HeclaMin(US)                     4.85      0.74     18.00  SilverWheaton(CA)               14.81      1.19      8.74  Aquiline(CA)                     6.39      0.47      7.94 Health Care Providers            461.93      7.02      1.54  BrkdleSenior                    18.58      1.39      8.09  FresniusNew(GR)                 41.99      2.66      6.76  HealthNet(US)                   16.09      0.86      5.65 Biotechnology                    471.82      6.80      1.46  HumanGenome(US)                 28.07      3.66     14.99  InterMune(US)                   14.16      1.45     11.41  IncyteCorp(US)                   6.70      0.42      6.69 Furnishings                      110.10      1.37      1.26  MohawkInd(US)                   42.72      2.22      5.48  HNI(US)                         27.75      1.09      4.09  Samson(HK)                       1.32      0.04      3.13 Trucking                         151.15      1.80      1.21  HuntJB(US)                      31.82      1.70      5.64  OldDomFrght(US)                 25.60      0.60      2.40  LandstarSys(US)                 35.65      0.76      2.18
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(END) Dow Jones Newswires
November 03, 2009 17:55 ET (22:55 GMT)

DJMN: DOW JONES GLOBAL INDEXES -2-
(All index values based on U.S. dollars unless noted)                             12-Mo    12-Mo   12-Mo    Pct                    Index     High      Low     Chg    Chg World              213.13   226.92   130.29   26.15  13.99 World (ex. U.S.)   189.62   203.31   111.80   32.83  20.94 Americas           276.14   292.13   172.41   23.42   9.27 Latin America      715.32   773.66   308.40  275.23  62.54 Europe             250.36   271.65   144.46   31.93  14.62 Euro Zone          254.82   282.78   145.25   32.85  14.80 Europe (ex. U.K.)  287.35   315.01   164.59   38.93  15.67 Pacific            116.84   123.90    73.76   23.07  24.61 Pacific (ex. Jpn)  289.04   312.70   150.77   92.96  47.41 Dollar        12-Mo    12-Mo  12-Mo    Pct --Since 12/31-- Index          High      Low    Chg    Chg     Chg    Pct Brazil      1794.40   619.01 720.55  77.44  865.74 110.24 Canada       434.16   224.44  66.94  20.15  120.53  43.26 Chile        472.67   249.96 150.03  49.48  180.21  66.01 Mexico       488.39   230.04  84.46  23.55  108.60  32.46 U.S.         272.15   165.36  14.36   5.89   38.60  17.57 Venezuela      0.00     0.00   0.00   0.00    0.00   0.00 Austria      293.25   119.56  63.05  32.94   93.92  58.49 Belgium      340.24   168.99  68.67  29.12   91.50  42.95 Denmark      455.73   241.28  64.47  17.79  119.16  38.72 Finland      909.21   480.34 -33.37  -4.03   61.90   8.45 France       295.65   160.07  30.74  12.99   44.54  19.99 Germany      272.64   147.77  23.58  10.68   30.09  14.05 Greece       226.40    90.94  43.62  28.60   70.12  55.65 Ireland      264.67   121.97   4.72   2.32   41.13  24.61 Italy        182.17    81.53  11.43   7.66   25.24  18.65 Netherlands  294.23   144.83  51.42  24.18   65.27  32.82 Norway       336.64   136.68  76.90  34.29  125.71  71.64 Portugal     226.10   126.74  46.92  29.09   52.03  33.32 Spain        390.27   186.81  81.83  29.22   79.83  28.30 Sweden       419.65   196.21 111.65  39.40  144.19  57.49 Switzerland  519.44   299.22  48.12  10.90   72.73  17.45 U.K.         198.97   109.92  20.75  12.44   45.09  31.66 S. Africa    317.64   149.27  94.27  50.13   76.72  37.31 Australia    400.59   175.44 103.24  39.61  134.97  58.96 Hong Kong    411.85   211.26 149.23  61.09  140.15  55.32 Indonesia    155.04    49.42  67.18  95.34   71.33 107.57 Japan         86.21    58.59   5.49   7.33    2.81   3.63 Malaysia     190.72   112.27  53.62  41.45   55.76  43.82 New Zealand  182.10    96.14  33.52  24.62   44.95  36.05 Philippines  160.73    86.95  50.32  48.59   56.43  57.91 Singapore    251.24   119.26  84.22  53.58   87.32  56.68 South Korea  234.69   101.03  69.33  47.94   71.06  49.73 Taiwan       149.34    75.45  44.79  47.15   52.65  60.42 Thailand      99.65    47.24  30.71  54.00   30.97  54.71
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(END) Dow Jones Newswires
November 03, 2009 17:55 ET (22:55 GMT)

DJMN: DOW JONES GLOBAL INDEXES FOR TUESDAY, NOVEMBER 3, 2009
(All index values based on U.S. dollars unless noted)                                  Net   Percent                      Index    Change    Change World                213.13     -1.03     -0.48 World (ex. U.S.)     189.62     -2.11     -1.10 Americas             276.14      1.79      0.65 Latin America        715.32     13.99      1.99 Europe               250.36     -5.34     -2.09 Euro Zone            254.82     -6.51     -2.49 Europe (ex. U.K.)    287.35     -7.28     -2.47 Pacific              116.84     -0.76     -0.65 Pacific (ex. Japan)  289.04     -3.70     -1.26     Local Currency    Net    Pct    Dollar    Net    Pct              Index    Chg    Chg     Index    Chg    Chg Brazil      7323055 144715   2.02   1651.05  45.20   2.81 Canada       369.38   5.11   1.40    399.13   7.66   1.96 Chile        642.18  -0.04  -0.01    453.23  -2.73  -0.60 Mexico      1915.44  20.65   1.09    443.16  -0.73  -0.16 U.S.         258.26   1.11   0.43    258.26   1.11   0.43 Venezuela      0.00   0.00   0.00      0.00   0.00   0.00 Austria      222.61  -6.25  -2.73    254.50  -9.64  -3.65 Belgium      266.23  -4.66  -1.72    304.52  -8.29  -2.65 Denmark      365.84  -1.44  -0.39    426.94  -5.75  -1.33 Finland      777.33  -7.33  -0.93    794.80 -15.15  -1.87 France       230.78  -3.38  -1.44    267.41  -6.51  -2.38 Germany      214.37  -3.06  -1.41    244.31  -5.84  -2.33 Greece       232.40  -6.26  -2.62    196.11  -7.20  -3.54 Ireland      186.45  -4.39  -2.30    208.23  -6.94  -3.23 Italy        170.97  -2.86  -1.65    160.59  -4.24  -2.57 Netherlands  231.64  -2.57  -1.10    264.12  -5.49  -2.04 Norway       291.44  -4.68  -1.58    301.18  -8.74  -2.82 Portugal     209.76  -2.35  -1.11    208.19  -4.34  -2.04 Spain        421.13  -9.16  -2.13    361.88 -11.39  -3.05 Sweden       477.60  -6.78  -1.40    395.03 -13.40  -3.28 Switzerland  371.61  -4.34  -1.15    489.61 -11.08  -2.21 U.K.         213.86  -2.92  -1.35    187.53  -2.39  -1.26 S. Africa    808.24  -8.89  -1.09    282.33  -3.43  -1.20 Australia    306.59  -0.52  -0.17    363.87  -2.78  -0.76 Hong Kong    392.13  -4.16  -1.05    393.50  -4.17  -1.05 Indonesia    661.61 -13.12  -1.94    137.65  -2.94  -2.09 Japan         58.20   0.00   0.00     80.40   0.15   0.19 Malaysia     230.72  -0.18  -0.08    183.01  -0.35  -0.19 New Zealand  127.66  -0.79  -0.62    169.65  -1.62  -0.95 Philippines  282.70   0.30   0.11    153.87  -0.18  -0.12 Singapore    208.77  -1.55  -0.74    241.39  -2.58  -1.06 South Korea  333.47  -1.85  -0.55    213.94  -1.04  -0.48 Taiwan       176.61  -0.39  -0.22    139.78  -0.40  -0.29 Thailand     124.34  -1.86  -1.47     87.58  -1.44  -1.62
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 17:55 ET (22:55 GMT)

DJMN: PRESS RELEASE: Moody's Upgrades Alixpartners' Cfr To Ba3; Outlook Stable
The following is a press release from Moody's Investors Service: Approximately $421 Million of Long-Term Debt Securities Affected New York, November 03, 2009 -- Moody's Investors Service upgraded AlixPartners LLP's ("AlixPartners") corporate family rating and senior secured credit facilities to Ba3 from B1. The probability-of-default rating was upgraded to B1 from B2. The upgrade reflects the company's positive organic sales/earnings growth trends that have translated into ongoing improvements in credit metrics since its acquisition by Hellman & Friedman LLC in 2006. The upgrade is also supported by Moody's expectations for improved cash flows as well as a good liquidity profile that is supported by a large cash balance and significant flexibility under the financial covenants governing the credit facilities. The ratings outlook is stable. The following ratings were upgraded: Corporate family rating to Ba3 from B1; Probability-of-default rating to B1 from B2; $50 million senior secured revolving credit facility due 2012 to Ba3 (LGD32%) from B1 (LGD3, 33%); $371 million first lien senior secured term loan due 2013 to Ba3 (LGD32%) from B1 (LGD3, 33%). For more information, please refer to AlixPartners' Credit Opinion on Moodys.com. The last rating action was on September 14, 2006 when Moody's assigned a B1 rating to AlixPartners then proposed senior secured credit facilities, a B1 corporate family rating, and a B2 probability-of-default rating. The principal methodology used in rating AlixPartners was Moody's Global Business & Consumer Services Industry, published in August 2007 and available on www.moodys.com in the Rating Methodologies sub-directory under the Research & Ratings tab. Other methodologies and factors that may have been considered in the process of rating this issuer can also be found in the Rating Methodologies sub-directory on Moody's website. Founded in 1981, AlixPartners LLP ("AlixPartners") is a global provider of a broad range of consulting services. CREDIT RATINGS ARE MIS'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES. MIS DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT.  CREDIT RATINGS DO NOT CONSTITUTE INVESTMENT OR FINANCIAL ADVICE, AND CREDIT RATINGS ARE NOT RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES.  CREDIT RATINGS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR.  MIS ISSUES ITS CREDIT RATINGS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE. Copyright 2009, Moody's Investors Service, Inc. and/or its licensors and affiliates including Moody's Assurance Company, Inc. (together, "MOODY'S"). All rights reserved. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY COPYRIGHT LAW AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. All information contained herein is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, such information is provided "as is" without warranty of any kind and MOODY'S, in particular, makes no representation or warranty, express or implied, as to the accuracy, timeliness, completeness, merchantability or fitness for any particular purpose of any such information. Under no circumstances shall MOODY'S have any liability to any person or entity for (a) any loss or damage in whole or in part caused by, resulting from, or relating to, any error (negligent or otherwise) or other circumstance or contingency within or outside the control of MOODY'S or any of its directors, officers, employees or agents in connection with the procurement, collection, compilation, analysis, interpretation, communication, publication or delivery of any such information, or (b) any direct, indirect, special, consequential, compensatory or incidental damages whatsoever (including without limitation, lost profits), even if MOODY'S is advised in advance of the possibility of such damages, resulting from the use of or inability to use, any such information. The credit ratings and financial reporting analysis observations, if any, constituting part of the information contained herein are, and must be construed solely as, statements of opinion and not statements of fact or recommendations to purchase, sell or hold any securities. NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY SUCH RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY MOODY'S IN ANY FORM OR MANNER WHATSOEVER. Each rating or other opinion must be weighed solely as one factor in any investment decision made by or on behalf of any user of the information contained herein, and each such user must accordingly make its own study and evaluation of each security and of each issuer and guarantor of, and each provider of credit support for, each security that it may consider purchasing, holding or selling. MOODY'S hereby discloses that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MOODY'S have, prior to assignment of any rating, agreed to pay to MOODY'S for appraisal and rating services rendered by it fees ranging from $1,500 to $2,400,000. Moody's Corporation (MCO) and its wholly-owned credit rating agency subsidiary, Moody's Investors Service (MIS), also maintain policies and procedures to address the independence of MIS's ratings and rating processes. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities who hold ratings from MIS and have also publicly reported to the SEC an ownership interest in MCO of more than 5%, is posted annually on Moody's website at www.moodys.com under the heading "Shareholder Relations - Corporate Governance - Director and Shareholder Affiliation Policy." Moody's Investors Service Pty Limited does not hold an Australian financial services licence under the Corporations Act. This credit rating opinion has been prepared without taking into account any of your objectives, financial situation or needs. You should, before acting on the opinion, consider the appropriateness of the opinion having regard to your own objectives, financial situation and needs.
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=zzvIlbd1ABWdI3%2FD8hQw4w%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires
November 03, 2009 17:54 ET (22:54 GMT)

DJMN: Moody's Upgrades Alixpartners' Cfr To Ba3; Outlook Stable
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 17:54 ET (22:54 GMT)

DJMN: 2nd UPDATE: ICE, CME Set To Battle Over Argus Crude Futures
(Updates with additional explanation of oil pricing mechanisms.)
   By Jacob Bunge and Brian Baskin    Of DOW JONES NEWSWIRES
CHICAGO (Dow Jones)--Saudi Arabia's jump to a different U.S. oil price benchmark is setting up a battle between the two leading commodities exchanges, each hoping to corner a potentially lucrative new market.
IntercontinentalExchange Inc. (ICE) said Tuesday it will launch a crude oil futures contract based on the Argus Sour Crude Index, putting the exchange operator in direct competition with rival CME Group Inc. (CME), which announced similar plans last week.
The index, created in May by London-based energy market information service Argus Media, is based off of lower-quality oil produced in the Gulf of Mexico. Saudi Arabia had previously used an assessment of West Texas Intermediate, or WTI, high-quality crude delivered in Cushing, Okla., put out by Platts, a unit of McGraw-Hill Cos. (MHP).
The exchange operators are quickly rolling out the new derivatives to hold onto Saudi Arabia's U.S. customers, who use futures to lock in their purchase price in advance, reducing the risk from fluctuating prices. Futures tied to high-quality oil at Cushing would not provide the same protection for low-quality oil priced with the Argus index, and companies would likely have sought out custom, over-the-counter derivatives had the exchanges not acted. CME and ICE each earn 6% to 8% of their revenue from futures linked to WTI, according to Fox-Pitt Kelton.
Saudi Arabia currently supplies about 5% of U.S. oil demand. Venezuela, which exports slightly more on average to the U.S., is also considering a shift away from WTI, the country's oil minister said in an interview Tuesday.
The stakes are high from the start for ICE and CME. Traders are generally wary of holding positions in new contracts, as their low volume tends to leave them more vulnerable to wild price swings. The volume hurdle could be overcome if state oil company Saudi Aramco's customers begin using Argus-linked futures - but companies often flock to the exchange that can offer a critical mass of activity.
Both exchange operators are hoping to gain an early edge by attracting companies looking to bet on the difference in prices between the new contract and established benchmarks.
ICE, which controls the lion's share of activity in Brent, the London-based oil price benchmark, would need a strong Brent-Argus spread trade to emerge in order to dominate the new market. CME, which operates the leading Cushing-based futures contract, is angling for a thriving WTI-Argus market to develop.
Brent has grown into a leading benchmark outside North America, and is used to price oil exported from Africa to the U.S. But WTI remains the dominant benchmark in the U.S., where most of the early adopters of the Argus contract will be based.
"I would expect Nymex should win this one, if there's one to win," said Andy Lebow, senior vice president for energy at MF Global in New York.
Phil Flynn, an energy analyst with PFG Best in Chicago, predicted a tough fight for the market with CME holding the edge in WTI.
"At least initially, this is a contract that will increase volumes," Flynn said, adding that speculative commodity traders facing tougher position limits from Washington may be able to use an Argus contract as an alternative to WTI or Brent.
Executives at ICE said they anticipated an "incremental" increase in overall volume with the addition of an Argus contract, while a CME spokeswoman said that to whatever extent that CME's Argus contract is adopted by the oil industry, it would spur demand for Nymex's existing sour crude futures markets.
Observers noted that the perceived competition between the two dominant global energy exchange operators could amount to little if the contract fails to draw interest from commercial hedgers and speculators.
Craig Pirrong, director of the Global Energy Management Institute at the University of Houston, noted past attempt to introduce sour crude contracts in competition with WTI have fizzled, though crude grades around the world are becoming more dominated by sour varieties.
"Both Brent and WTI have become progressively less representative of crude grades in different locations over time, but nonetheless have continued to thrive, and nobody else really has been able to break that stranglehold," he said.

-By Jacob Bunge, Dow Jones Newswires; 312-750-4117; jacob.bunge@dowjones.com and Brian Baskin, Dow Jones Newswires; 212-416-2453; brian.baskin@dowjones.com
(Dan Molinski in Porlamar, Venezuela contributed to this article.)

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(END) Dow Jones Newswires
November 03, 2009 17:53 ET (22:53 GMT)

DJMN: Obama Welcomes Ratification Of EU's Lisbon Treaty
WASHINGTON (AFP)--U.S. President Barack Obama Tuesday welcomed the ratification of the European Union's Lisbon Treaty, saying it would boost ties between the U.S. and E.U.
"I congratulated them on the conclusion of the Lisbon Treaty, which will further move Europe in the direction of integration not only on economic policy but also on a number of security issues," Obama said after a White House meeting with E.U. leaders. "I believe that a strengthened and renewed E.U. will be an even better transatlantic partner with the United States."
Obama met with European Commission chief Jose Manuel Barroso, E.U. foreign policy chief Javier Solana and Swedish Prime Minister Fredrik Reinfeldt, whose country currenly holds the rotating E.U. presidency.
The last holdout on the reform treaty, Czech President Vaclav Klaus, signed the document Tuesday, paving the way for the treaty to take effect.
-Dow Jones Newswires; 212-416-2900

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(END) Dow Jones Newswires
November 03, 2009 17:52 ET (22:52 GMT)

DJMN: UPDATE: MasTec To Pay $150M For Precision Pipeline >MTZ
(Adds notes offering, updates stock quote.)
  DOW JONES NEWSWIRES
MasTec Inc. (MTZ) has agreed to pay $150 million for Precision Pipeline LLC, a pipeline infrastructure services provider.
The deal depends on financing availability on terms and conditions acceptable to MasTec, a specialty contractor, and there is no break-up fee. MasTec Chief Financial Officer Bob Campbell said the company must obtain at least $75 million in financing.
Later Tuesday, Mastec said it plans to sell $100 million in senior convertible notes in a private placement and will use the proceeds to fund the purchase and for general corporate purposes.
Mastec's shares dropped 4.5% to $11.80 in after-hours trading. The stock has climbed 46% in the past year.
The five-year notes will be sold to qualified institutional investors and are expected to be guaranteed by Mastec's units, which guarantee its existing notes.
Precision, which specializes in the construction and maintenance of large-diameter pipelines, is expected to add to MasTec's energy infrastructure service offerings, which include natural gas-gathering systems, processing plants and compression stations, and mid-stream pipelines.
"With the acquisition of Precision, we will significantly expand our capabilities in the natural gas, crude oil and refined petroleum product pipeline industries," said MasTec Chief Executive Jose Mas. "This acquisition complements our recent growth in renewables, electric transmission line construction and wireless infrastructure services."
MasTec does contracting work in a range of industries, but lately it has been seen by many on Wall Street as a "green" play because of its presence in the alternative-energy field. In December, MasTec acquired wind-farm builder Wanzek Construction Inc.
The company had been reporting solid growth, but last week posted largely flat results for the third quarter. President and Chief Executive Jose Mas called it "an excellent quarter in spite of a difficult economic environment."

- By Kathy Shwiff, Dow Jones Newswires; 212-416-2357; Kathy.Shwiff@dowjones.com

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(END) Dow Jones Newswires
November 03, 2009 17:51 ET (22:51 GMT)

DJMN: DJ NYSE Most Active Issues
VOLUME ACTIVES COMPANY            SYMBOL         VOLUME        LAST   CHANGE     PERCENT -------            ------         ------      ------  -------      ------ Citigroup               C    506,208,445        4.04     0.05        1.25 FordMotor               F    193,307,087        7.44    -0.14       -1.85 BankAm                BAC    187,897,113       14.80     0.17        1.16 ScheringPl            SGP     90,949,331       28.15    -0.25       -0.88 GenElec                GE     76,955,873       14.32    -0.15       -1.04 Merck                 MRK     67,903,106       30.67    -0.59       -1.89 Motorola              MOT     58,355,033        9.08     0.05        0.55 BurlNthSF             BNI     57,427,454       97.00    20.93       27.51 Pfizer                PFE     52,690,389       16.89    -0.06       -0.35 BosSci                BSX     44,680,557        7.99    -0.22       -2.68 FannieMae             FNM     43,787,895        1.15     0.12       11.65 SprintNextel            S     42,204,807        2.94     0.07        2.44 MicronTch              MU     39,976,382        6.65     0.07        1.06 AmIntlGp              AIG     38,767,103       39.22     4.91       14.31 LasVegasSands         LVS     38,374,064       15.14     0.85        5.95 WellsFargo            WFC     37,816,408       27.74     0.13        0.47 MGM Mirage            MGM     36,662,325        9.65     0.62        6.87 RegionsFin             RF     34,697,980        4.84     0.06        1.26 Alcoa                  AA     33,572,083       12.66     0.18        1.44 YamanaGld             AUY     30,334,195       11.68     0.87        8.05 Source: WSJ Market Data Group
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(END) Dow Jones Newswires
November 03, 2009 17:51 ET (22:51 GMT)

DJMN: DJ NASD Most Active Issues
VOLUME ACTIVES COMPANY            SYMBOL         VOLUME        LAST   CHANGE     PERCENT -------            ------         ------      ------  -------      ------ Intel                INTC    101,554,834       18.50    -0.51       -2.68 PwrShrs QQQ          QQQQ     95,061,248       41.26     0.13        0.32 E Trade              ETFC     57,976,769        1.45     0.06        4.32 Microsoft            MSFT     50,256,474       27.53    -0.35       -1.26 CiscoSys             CSCO     46,342,737       22.91    -0.09       -0.39 YRC Worldwide        YRCW     32,202,234        1.23    -0.09       -6.82 ApldMatl             AMAT     30,756,435       11.89    -0.41       -3.33 RschInMotn           RIMM     30,679,245       59.61     3.87        6.94 HumanGenom           HGSI     29,855,504       28.07     2.79       11.02 ActivisionBliz       ATVI     28,803,188       10.62     0.25        2.41 HuntgBcsh            HBAN     28,630,007        3.82     0.21        5.82 SiriusXM             SIRI     28,297,570        0.60     0.01        1.82 Comcast A           CMCSA     26,407,613       14.51        0           0 ON Semi              ONNN     21,964,403        6.53    -0.14       -2.10 NVIDIA               NVDA     21,911,752       12.01    -0.06       -0.50 OracleCp             ORCL     20,641,048       20.89    -0.20       -0.95 NewsCp A             NWSA     19,993,398       11.44    -0.08       -0.69 Qualcomm             QCOM     18,755,796       42.22     0.41        0.98 AppleInc             AAPL     18,540,179      188.75    -0.56       -0.30 Dell                 DELL     17,490,750       14.59     0.15        1.04 Source: WSJ Market Data Group
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(END) Dow Jones Newswires
November 03, 2009 17:51 ET (22:51 GMT)

DJMN: DJ NYSE Amex Most Active Issues
VOLUME ACTIVES COMPANY            SYMBOL         VOLUME        LAST   CHANGE     PERCENT -------            ------         ------      ------  -------      ------ CelSci                CVM      9,981,186        1.10     0.18       19.57 Hemispherx            HEB      8,735,806        1.13    -0.20      -15.04 TasekoMine            TGB      6,870,438        3.25     0.22        7.17 GtBasinGld A          GBG      5,874,099        1.61     0.09        5.92 EnterpriseAcq         EST      5,416,602        9.17    -0.58       -5.96 GldnStar              GSS      5,107,815        3.67     0.40       12.23 NorthgateMin          NXG      4,415,362        2.81     0.19        7.25 NovaGoldRes            NG      4,241,135        4.97     0.58       13.21 DuneEngy              DNE      4,090,057        0.11        0       -2.73 ApolloGld             AGT      3,466,868        0.50     0.04        8.72 NewGold               NGD      3,258,936        4.09     0.34        9.07 OilsandsQuest         BQI      2,700,709        1.23     0.04        3.36 CntlFdCan             CEF      2,299,904       14.02     0.71        5.33 ParamntGldSlv         PZG      2,132,286        1.20     0.04        3.45 Rentech               RTK      1,886,066        1.35     0.14       11.57 GoldenPondHlth        GPH      1,810,100        7.89     0.02        0.25 CrystllxInt           KRY      1,666,208        0.23     0.02        9.52 SilvercorpMtls        SVM      1,664,037        5.50     0.37        7.21 US GoldCp             UXG      1,656,418        2.97     0.30       11.24 SinovacBio            SVA      1,528,835        7.91     0.27        3.53 Source: WSJ Market Data Group
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November 03, 2009 17:51 ET (22:51 GMT)

DJMN: Tata Consultancy Svcs, Cardiff Council Sign Outsourcing Deal - Report
DOW JONES NEWSWIRES

Tata Consultancy Services Ltd. (532540.BY) has signed a 15-year IT-infrastructure outsourcing deal with Cardiff Council, the Press Trust of India reported Tuesday, citing a statement by Cardiff Council.
The size of the deal wasn't disclosed, the PTI said.

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November 03, 2009 17:50 ET (22:50 GMT)

DJMN: Interbank Foreign Exchange Rates At 17:50 EST / 2250 GMT
Latest     Previous   %Chg   Daily   Daily    %Chg Dollar Rates                        2150 GMT          High    Low      12/31 USD/JPY Yen              90.32-34   90.26-31   +0.07  90.36   90.29    -0.31 EUR/USD Euro             1.4712-15  1.4733-34  -0.14  1.4729  1.4712   +5.25 GBP/USD Sterling         1.6421-25  1.6442-46  -0.13  1.6441  1.6423  +12.27 USD/CHF Swiss Franc      1.0265-77  1.0249-58  +0.16  1.0266  1.0256   -3.79 USD/CAD Canadian Dlr     1.0665-68  1.0657-62  +0.08  1.0669  1.0654  -12.33 AUD/USD Australian Dlr   0.9026-30  0.9039-42  -0.14  0.9037  0.9023  +27.61 NZD/USD New Zealand Dlr  0.7210-20  0.7212-22  -0.03  0.7223  0.7204  +23.56 Euro Rates EUR/JPY Yen              132.88-93  132.99-04  -0.08  133.04  132.89   +4.93 EUR/GBP Sterling         0.8957-60  0.8958-63  -0.01  0.8961  0.8951   -6.32 EUR/CHF Swiss Franc      1.5102-07  1.5104-07  -0.01  1.5109  1.5103   +1.14 EUR/CAD Canadian Dlr     1.5689-99  1.5700-09  -0.07  1.5703  1.5681   -7.81 EUR/AUD Australian Dlr   1.6291-04  1.6293-00  -0.01  1.6318  1.6289  -17.56 EUR/DKK Danish Krone     7.4418-20  7.4418-20   0.00  7.4419  7.4419   -0.01 EUR/NOK Norwegian Krone  8.4965-14  8.5048-96  -0.10  8.5065  8.4846  -12.49 EUR/SEK Swedish Krona    10.4607-62 10.4712-63 -0.10  10.4857 10.4658  -4.26 EUR/CZK Czech Koruna     26.1960-60 26.2240-40 -0.11  26.2390 26.2160  -2.08 EUR/HUF Hungary Forint   276.74-04  276.31-46  +0.16  276.94  276.48   +5.00 EUR/PLN Polish Zloty     4.2627-84  4.2635-63  -0.02  4.2640  4.2650   +3.59 Yen Rates AUD/JPY Australian Dlr   81.52-57   81.61-64   -0.11  81.62   81.53   +28.78 GBP/JPY Sterling         148.28-41  148.39-48  -0.07  148.50  148.32  +12.09 CAD/JPY Canadian Dlr     84.64-72   84.68-72   -0.05  84.79   84.70   +14.09 NZD/JPY New Zealand Dlr  65.11-23   65.15-18   -0.06  65.22   65.07   +24.61 Other Dollar Rates USD/CZK Czech Koruna     17.822-63  17.781-17  +0.23  17.832  17.808   -6.76 USD/HUF Hungary Forint   187.55-82  187.38-81  +0.09  188.15  187.80   -0.40 USD/DKK Danish Krone     5.0574-84  5.0508-12  +0.13  5.0584  5.0526   -5.00 USD/NOK Norwegian Krone  5.7680-30  5.7730-55  -0.09  5.7790  5.7640  -16.95 USD/PLZ Polish Zloty     2.8978-88  2.8930-49  +0.17  2.9042  2.8958   -2.13 USD/RUB Russian Ruble    29.318-24  29.294-99  +0.08  29.321  29.302   -3.95 USD/SEK Swedish Krona    7.1150-70  7.1078-63  +0.10  7.1251  7.1080   -8.90 USD/EEK Estonia Kroon    10.6316-45 10.6186-15 +0.12  10.6338 10.6218  -4.93 USD/HKD Hong Kong Dlr    7.7499-06  7.7496-09  +.004  7.7502  7.7503    0.00 USD/MYR Malaysian Ringt  3.4290-20  3.4290-20   0.00 *3.4300  3.4130   -0.61 USD/INR Indian Rupee     47.1200-00 47.1200-00  0.00 *47.4200 46.9600  -3.01 USD/IDR Indones Rupiah   9570-580   9570-580    0.00 *9590    9540    -11.80 USD/PHP Philippine Peso  47.500-00  47.500-00   0.00 *47.750  47.280   +0.17 USD/SGD Singapore Dlr    1.3990-03  1.3994-04  -0.03  1.4004  1.4000   -2.19 USD/KRW S. Korean Won    1190.6-2.6 1191.1-2.1 -0.04  1191.1  1192.1   -5.66 USD/TWD Taiwan Dlr       32.530-40  32.530-40   0.00 *32.610  32.468   -0.69 USD/THB Thai Baht        33.45-49   33.45-49    0.00 *33.49   33.35    -3.63 USD/VND Vietnamese Dong  17841-41   17841-41    0.00 *                 +2.07 USD/ZAR S. African Rand  7.8100-00  7.8185-85  -0.11  7.8415  7.8170  -17.27 USD/BRR Brazilian Real   1.745-46   1.745-46    0.00 *1.780   1.736   -24.56 USD/MXN Mexican Peso     13.250-89  13.251-58  -0.01  13.267  13.256   -2.95 USD/ARS Argentine Peso   3.8175-25  3.8175-25   0.00 *                +10.65 * Untraded today. High, low and latest are from previous trading day Source: Reuters Group PLC
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November 03, 2009 17:50 ET (22:50 GMT)

DJMN: Vice Chairman Of Portugal's BCP Seeks Suspension Of Mandate
DOW JONES NEWSWIRES
Portugal's Banco Comercial Portugues SA (BCP.LB) said late Tuesday its supervisory board has received a request from Armando Vara "to suspend, with immediate effect, his mandate as vice chairman and member of the executive board of directors of the bank."
In a filing to the Portuguese stock market regulator, the bank said Vara's request will be discussed at the supervisory board's next meeting on Nov. 11.
The company didn't offer further details on the reason for the executive's request.
Vara is one of the 14 people under investigation for their alleged involvement in economic crimes, according to Portuguese press reports.

Regulator Web site: www.cmvm.pt

-By Enza Tedesco, Dow Jones Newswires; enza.tedesco@dowjones.com

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November 03, 2009 17:50 ET (22:50 GMT)

DJMN: US Admin Official:Need Quick Action On Fincl Regulation Changes
By Michael R. Crittenden
Of DOW JONES NEWSWIRES

WASHINGTON (Dow Jones)--The Obama administration will continue to press Congress to move quickly on overhauling regulation of the financial system, eager to put in place structures that will help in future panics, an administration official said Tuesday.
The official said the administration still believes that moving legislation sooner will ensure that better measures are enacted. Waiting too long will allow public attention on problems laid bare by last year's financial crisis to wane, and allow political opponents of an overhaul to water it down so it is ineffective, the official said.
Key to that effort will be the legislation currently moving through the House and soon to be introduced in the Senate. Though a number of differences exist between the two chambers and the administration's proposals, the official said the core principles being considered by the parties are generally in harmony.
That assessment includes legislation soon to be introduced by Sen. Christopher Dodd, D-Conn., who chairs the Senate Banking Committee and is expected to circulate a draft of his overhaul proposals as early as next week. The official, who had been briefed on the Dodd legislation, said the central provisions on systemic risk and consumer protection are a positive place for the Senate to start.
That doesn't mean that enacting wholesale reforms will be easy. The administration's expectation is that the legislation currently winding its way through Congress will undergo a number of changes before it reaches its final form and that it could move away from the administration's proposals, the official said.
One area where there doesn't appear to be room for negotiation is on the administration's proposal to create an agency to regulate the financial products available to consumers. Republicans, and some Democrats, have said they are wary of such an agency, but the official said the administration wouldn't accept a weak or watered-down version of its proposal. Changes already made by the House Financial Services Committee, including an exemption for some smaller banks, are workable, the official said.

-By Michael R. Crittenden, Dow Jones Newswires; 202 862 9273; michael.crittenden@dowjones.com

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November 03, 2009 17:48 ET (22:48 GMT)

DJMN: Nymex Natural Gas Settlement Prices
LIFETIME         OPEN          OPEN     HIGH      LOW   SETTLE     CHG     HIGH      LOW        INT DEC 09   4.830    4.940    4.761    4.922   +.098   12.750    4.340    145,313 JAN 10   5.156    5.266    5.093    5.248   +.086   12.920    4.677    115,163 FEB 10   5.210    5.313    5.145    5.296   +.079   12.820    4.730     43,139 MAR 10   5.236    5.293    5.142    5.283   +.078   12.590    4.733     59,923 APR 10   5.216    5.287    5.151    5.276   +.073   10.800    4.775     46,464 MAY 10   5.250    5.344    5.215    5.333   +.070   10.430    4.869     29,740 JUN 10   5.363    5.435    5.307    5.424   +.066   10.681    4.971     17,690 JLY 10   5.410    5.532    5.410    5.527   +.064   10.720    4.800     14,729 AUG 10   5.530    5.630    5.500    5.614   +.066   10.659    5.211     13,767 SEP 10   5.615    5.668    5.572    5.673   +.062   10.810    5.275     12,808 OCT 10   5.760    5.813    5.705    5.813   +.055   10.800    4.750     29,415 NOV 10   6.120    6.204    6.120    6.218   +.050   11.150    5.900      7,320 DEC 10   6.510    6.608    6.493    6.598   +.045   11.620    5.370     14,976 JAN 11   6.749    6.841    6.730    6.833   +.045   11.750    6.540     11,326 FEB 11   6.750    6.810    6.742    6.828   +.045   11.700    6.560      5,896 MAR 11   6.585    6.595    6.575    6.658   +.045   11.610    6.370     16,693 APR 11   6.130    6.210    6.115    6.188   +.045   10.184    5.850      9,173 JLY 11   6.295    6.295    6.285    6.288   +.045   10.287    5.995      2,762 AUG 11   6.289    6.300    6.289    6.353   +.045   10.160    6.140      3,721 SEP 11   6.288    6.288    6.288    6.383   +.045   10.510    6.140      3,310 OCT 11   6.405    6.510    6.400    6.503   +.045   10.533    6.230      5,885 NOV 11   6.801    6.801    6.801    6.798   +.045   10.030    6.470      2,591 DEC 11   7.110    7.110    7.110    7.098   +.045   11.330    6.725      9,112 JAN 12   7.310    7.310    7.310    7.303   +.045   11.543    6.930      3,774 FEB 12   7.300    7.300    7.300    7.293   +.045   11.410    6.930      1,363 APR 12   6.500    6.500    6.500    6.498   +.045   10.260    6.075      3,191 OCT 12   6.770    6.770    6.770    6.763   +.045   10.250    6.300      1,809 MAR 13   7.250    7.250    7.250    7.278   +.040   11.350    6.960      1,577 MAY 16   7.175    7.200    7.175    7.248   +.045    7.200    7.175          1 AUG 17   7.510    7.510    7.510    7.663   +.045    7.797    7.510          1 Est vol n.a. vol Mon 188,450 open int 687,201 -4,244
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November 03, 2009 17:48 ET (22:48 GMT)

DJMN: Nymex Harbor RBOB Gasoline Settlement Prices
LIFETIME         OPEN          OPEN     HIGH      LOW   SETTLE     CHG     HIGH      LOW        INT DEC 09  1.9929   2.0108   1.9379   2.0004  +.0101   3.4800   1.0890     99,839 JAN 10  2.0055   2.0345   1.9614   2.0250  +.0130   2.7100   1.1525     55,428 FEB 10  2.0278   2.0597   1.9905   2.0505  +.0143   2.1342   1.2304     22,632 MAR 10  2.0517   2.0838   2.0243   2.0766  +.0157   2.1549   1.2176     22,062 APR 10  2.1719   2.2026   2.1465   2.2005  +.0193   2.2715   1.4475     12,220 MAY 10  2.1927   2.2030   2.1927   2.2058  +.0206   3.1200   1.4650      7,219 JUN 10  2.1950   2.2109   2.1627   2.2103  +.0231   2.2730   1.5130      7,073 NOV 10  2.0644   2.1050   2.0644   2.1003  +.0375   2.1050   2.0360        673 DEC 10  2.0791   2.1128   2.0791   2.1103  +.0370   3.1450   1.2967      5,417 Est vol n.a. vol Mon 85,346 open int 245,351 +4,087
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November 03, 2009 17:48 ET (22:48 GMT)

DJMN: GM Bd Decides To Retain Opel
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)
November 03, 2009 17:48 ET (22:48 GMT)

DJMN: Nymex Heating Oil Settlement Prices
LIFETIME         OPEN          OPEN     HIGH      LOW   SETTLE     CHG     HIGH      LOW        INT DEC 09  2.0465   2.0785   2.0030   2.0733  +.0273   4.1862   1.3291     91,169 JAN 10  2.0857   2.1124   2.0356   2.1072  +.0289   4.1847   1.3640     56,816 FEB 10  2.0797   2.1400   2.0643   2.1354  +.0303   3.5570   1.3816     29,534 MAR 10  2.0913   2.1547   2.0834   2.1534  +.0325   3.5280   1.3800     21,304 APR 10  2.0975   2.1615   2.0884   2.1606  +.0333   3.4750   1.3939     12,305 MAY 10  2.1125   2.1604   2.0985   2.1680  +.0334   3.4240   1.3933     11,921 JUN 10  2.1500   2.1822   2.1114   2.1779  +.0333   3.6100   1.3825     23,996 JLY 10  2.1288   2.1876   2.1288   2.1955  +.0324   3.3940   1.4160      7,138 AUG 10  2.1845   2.2104   2.1845   2.2190  +.0314   3.3990   1.4525      3,356 SEP 10  2.2091   2.2479   2.2091   2.2440  +.0309   3.4065   1.4750      6,009 OCT 10  2.2350   2.2596   2.2350   2.2680  +.0314   3.4165   1.5000      2,944 NOV 10  2.2828   2.2828   2.2828   2.2913  +.0317   3.4260   1.5250      5,523 DEC 10  2.2900   2.3155   2.2540   2.3138  +.0317   3.8342   1.5175     19,017 JLY 11  2.2995   2.3325   2.2995   2.3323  +.0312   2.3325   1.5450        244 AUG 11  2.3075   2.3450   2.3075   2.3478  +.0317   2.3700   1.6000        743 SEP 11  2.3100   2.3625   2.3100   2.3633  +.0322   2.3840   1.6800        327 OCT 11  2.3350   2.3350   2.3350   2.3798  +.0327   2.4000   1.7300        173 NOV 11  2.3425   2.3425   2.3425   2.3958  +.0332   2.4155   1.6900        755 DEC 11  2.3500   2.3850   2.3500   2.4113  +.0337   2.4185   1.6500      5,060 APR 12  2.3875   2.4150   2.3875   2.4168  +.0337   2.4150   1.9600         67 Est vol n.a. vol Mon 83,307 open int 315,494 +7,600
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November 03, 2009 17:48 ET (22:48 GMT)

DJMN: Transfield Services Expects Flat-Modest Net Profit Growth FY10
SYDNEY (Dow Jones)--Transfield Services Ltd. (TSE.AU) said Wednesday that there are opportunities for future growth in liquefied natural gas and coal seam gas developments in Australia and in North America and the Middle East and is well positioned to take advantage of those opportunities.
The company also reiterated its earnings guidance for the fiscal year that started July 1.
"We are seeing opportunities for future growth in liquefied natural gas and coal seam methane developments in Australia; in oil and gas and infrastructure in North America and the Middle East; in economic and social infrastructure in Australia and New Zealand; and in renewable energy in Australia," Chairman Tony Shepherd said at the company's annual meeting.
Transfield Services expects to deliver flat to modest growth in net profit "and continuing strong cash generation during fiscal 2010," he said.
-By Iain McDonald, Dow Jones Newswires; 61-2-8272-4681; iain.mcdonald@dowjones.com

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November 03, 2009 17:48 ET (22:48 GMT)

DJMN: Nymex Crude Oil Settlement Prices
LIFETIME         OPEN          OPEN     HIGH      LOW   SETTLE     CHG     HIGH      LOW        INT DEC 09   78.09    79.77    76.55    79.60   +1.47   146.86    22.50    314,254 JAN 10   78.75    80.42    77.22    80.26   +1.44   139.00    47.31    166,786 FEB 10   79.46    81.04    77.91    80.92   +1.41   117.00    47.60     70,117 MAR 10   80.16    81.60    78.57    81.54   +1.42   141.30    48.78     56,946 APR 10   79.79    82.08    79.10    82.11   +1.45   116.70    51.00     21,112 MAY 10   81.17    82.62    79.92    82.64   +1.47   132.95    52.95     19,222 JUN 10   81.60    83.12    80.18    83.11   +1.49   142.00    50.66     94,021 JLY 10   80.96    83.43    80.52    83.45   +1.49   116.80    51.44     29,594 AUG 10   82.69    83.72    82.66    83.75   +1.48   132.70    54.69     11,188 SEP 10   82.27    84.06    81.58    84.07   +1.47   132.65    54.11     24,097 DEC 10   83.72    85.12    82.30    85.12   +1.38   145.07    27.15    110,821 JUN 11   85.89    85.98    85.83    86.24   +1.20   142.37    56.55     18,195 DEC 11   86.20    86.98    85.02    87.23   +1.06   143.54    36.10     41,928 DEC 12   87.10    88.00    86.50    88.65   +0.80   143.13    59.00     51,799 DEC 13   88.80    88.80    88.80    90.20   +0.64   142.00    64.00     20,502 DEC 14   90.40    91.80    90.40    91.96   +0.50   141.66    64.56     13,237 DEC 15   92.90    92.90    92.90    93.94   +0.48   142.70    66.04     18,367 DEC 16   95.00    95.00    95.00    96.16   +0.48   145.60    67.80      5,027 Est vol n.a. vol Mon 555,171 open int 1,194,475 -12,248
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=zzvIlbd1ABWdI3%2FD8hQw4w%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires
November 03, 2009 17:48 ET (22:48 GMT)

DJMN: Hiland Holdings Says Hamm To Lend Co $1.5M
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)
November 03, 2009 17:47 ET (22:47 GMT)

DJMN: Harold Hamm Raises Bid To $10/Shr
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November 03, 2009 17:47 ET (22:47 GMT)

DJMN: UPDATE: El Paso 3Q Net Down 85% On Price Slump, Hedging
(Adds details throughout.)

NEW YORK (Dow Jones)--El Paso Corp.'s (EP) third-quarter profit sank 85% on slumping natural gas prices and lower hedging gains compared to last year.
Shares fell 4.5% after-hours, to $9.36, as revenue was well short of analysts' expectations. The stock through the close was up 25% this year.
El Paso reported third-quarter earnings of $67 million, or 8 cents a share, down from $445 million, or 58 cents a share, a year earlier. Excluding derivative and other impacts, earnings fell to 23 cents from 35 cents.
Revenue fell 39%, to $981 million.
Analysts polled by Thomson Reuters had most recently forecast earnings of 22 cents on $1.12 billion in sales.
El Paso's exploration and production business was hard-hit by lower gas prices, with earnings before income and taxes in that segment down 84%, compared to the third quarter of last year. Average daily output fell 7.7%. But earnings in the company's pipeline group rose 17% as new transportation and storage projects boosted revenues.
El Paso said Tuesday that it plans to sell an additional $300 to $500 million of assets in 2010 to improve liquidity and increase long-term returns to shareholders. The company also said it would reduce its divided from 5 cents to a penny per share and has identified $150 million of additional cost savings.
"Our actions to make significant reductions in our ongoing cost structure, streamline our organization and reduce the dividend are designed to improve the long term returns to our shareholders," said Doug Foshee, El Paso's chairman, president and chief executive, in a press release.
Gas companies have been hurt amid a glut of U.S. output and slack demand, especially from industrial users. Natural-gas prices also have been on the skids, dropping to multi-year lows during the quarter before rebounding slightly in recent weeks.
In October, El Paso said it would reenter the natural-gas gathering and processing business five years after mounting debt forced the company to stop. El Paso said it would form a new segment that will acquire and possibly build gathering and processing facilities to treat and transport gas.

-By Nathan Becker and Christine Buurma, Dow Jones Newswires; 212-416-2855; nathan.becker@dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=zzvIlbd1ABWdI3%2FD8hQw4w%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires
November 03, 2009 17:47 ET (22:47 GMT)

DJMN: PRESS RELEASE: Moody's Abcp Rating Actions Ending November 2, 2009
The following is a press release from Moody's Investors Service: New York, November 03, 2009 -- Moody's ABCP rating actions for the seven-day period ended November 2, 2009 THE RATINGS OF THE FOLLOWING ABCP PROGRAMS WERE WITHDRAWN DURING THE PERIOD OCTOBER 27, 2009 THROUGH NOVEMBER 2, 2009: FIVE ABCP PROGRAMS WITHDRAW RATING At the issuer's request, Moody's has withdrawn the Prime-1 ratings assigned to the commercial paper issued by five asset-backed commercial paper programs (each an ABCP program) established in November 2008 as the Money Market Investor Funding Facility. The programs are called Antoninus Funding Co., LLC, Aurelius Funding Co., LLC, Hadrian Funding Co., LLC, Nerva Funding Co., LLC, and Trajan Funding Co., LLC. Each ABCP program is a partially supported, multiseller program administered by Global Securitization Services, LLC, (GSS, unrated). As of October 30, 2009, all outstanding ABCP had been repaid in full and no further ABCP will be issued. Moody's policies regarding the withdrawal of ratings are described in "Moody's Guidelines for the Withdrawal of Ratings". The principal methodology used in rating and monitoring the above-referenced ABCP programs is described in "The Fundamentals of Asset-Backed Commercial Paper" (February 2003), which is available on www.moodys.com in the Rating Methodologies sub-directory under the Research & Ratings tab. Other methodologies and factors that may have been considered in the rating process can also be found in the Rating Methodologies sub-directory on Moody's website. Moody's monitors and analyzes ABCP programs on an ongoing basis. The rating actions apply to the CP issued by the ABCP programs and not the individual transaction in the programs' portfolio. A detailed description of each program is published in the ABCP Program Review. Some ABCP programs have monthly updated performance information, which is published in the Performance Overviews. All publications are available on Moody's website. In addition, Moody's publishes a weekly summary of structured finance credit, ratings and methodologies, available to all registered users of our website, at www.moodys.com/SFQuickCheck. CREDIT RATINGS ARE MIS'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES. MIS DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT.  CREDIT RATINGS DO NOT CONSTITUTE INVESTMENT OR FINANCIAL ADVICE, AND CREDIT RATINGS ARE NOT RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES.  CREDIT RATINGS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR.  MIS ISSUES ITS CREDIT RATINGS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE. Copyright 2009, Moody's Investors Service, Inc. and/or its licensors and affiliates including Moody's Assurance Company, Inc. (together, "MOODY'S"). All rights reserved. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY COPYRIGHT LAW AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. All information contained herein is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, such information is provided "as is" without warranty of any kind and MOODY'S, in particular, makes no representation or warranty, express or implied, as to the accuracy, timeliness, completeness, merchantability or fitness for any particular purpose of any such information. Under no circumstances shall MOODY'S have any liability to any person or entity for (a) any loss or damage in whole or in part caused by, resulting from, or relating to, any error (negligent or otherwise) or other circumstance or contingency within or outside the control of MOODY'S or any of its directors, officers, employees or agents in connection with the procurement, collection, compilation, analysis, interpretation, communication, publication or delivery of any such information, or (b) any direct, indirect, special, consequential, compensatory or incidental damages whatsoever (including without limitation, lost profits), even if MOODY'S is advised in advance of the possibility of such damages, resulting from the use of or inability to use, any such information. The credit ratings and financial reporting analysis observations, if any, constituting part of the information contained herein are, and must be construed solely as, statements of opinion and not statements of fact or recommendations to purchase, sell or hold any securities. NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY SUCH RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY MOODY'S IN ANY FORM OR MANNER WHATSOEVER. Each rating or other opinion must be weighed solely as one factor in any investment decision made by or on behalf of any user of the information contained herein, and each such user must accordingly make its own study and evaluation of each security and of each issuer and guarantor of, and each provider of credit support for, each security that it may consider purchasing, holding or selling. MOODY'S hereby discloses that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MOODY'S have, prior to assignment of any rating, agreed to pay to MOODY'S for appraisal and rating services rendered by it fees ranging from $1,500 to $2,400,000. Moody's Corporation (MCO) and its wholly-owned credit rating agency subsidiary, Moody's Investors Service (MIS), also maintain policies and procedures to address the independence of MIS's ratings and rating processes. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities who hold ratings from MIS and have also publicly reported to the SEC an ownership interest in MCO of more than 5%, is posted annually on Moody's website at www.moodys.com under the heading "Shareholder Relations - Corporate Governance - Director and Shareholder Affiliation Policy." Moody's Investors Service Pty Limited does not hold an Australian financial services licence under the Corporations Act. This credit rating opinion has been prepared without taking into account any of your objectives, financial situation or needs. You should, before acting on the opinion, consider the appropriateness of the opinion having regard to your own objectives, financial situation and needs.
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=zzvIlbd1ABWdI3%2FD8hQw4w%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires
November 03, 2009 17:47 ET (22:47 GMT)

DJMN: Moody's Abcp Rating Actions Ending November 2, 2009
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 17:47 ET (22:47 GMT)

DJMN: Harold Hamm Raises Bid For Hiland Partners, Hiland Hldgs
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)
November 03, 2009 17:47 ET (22:47 GMT)

DJMN: Woodside Petroleum To Issue US$700M In Corporate bonds
SYDNEY (Dow Jones)-- Woodside Petroleum Ltd. (WPL.AU) said Wednesday that it has agreed to issue US$700 million of corporate bonds in the U.S. as it continues to source funds for the development of its massive Pluto liquefied natural gas project.
Woodside said the five-year bonds will have a coupon of 4.5%.
It follows Woodside this week saying it has sold its 51.55% share of the Otway gas project offshore Victoria state for A$721.5 million to Origin Energy Ltd. (ORG.AU).
-By Ross Kelly, Dow Jones Newswires; 61-2-8235-2957; ross.kelly@dowjones.com

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(END) Dow Jones Newswires
November 03, 2009 17:46 ET (22:46 GMT)

DJMN: Telstra Expects Continued Growth, Will Keep Investing
SYDNEY (Dow Jones)--Telstra Corp. (TLS) said Wednesday it expects continued top and bottom line growth and will keep investing in all core platforms.
Chief Executive David Thodey told the company's annual shareholder meeting the telecommunications company expects free cash flow of A$6 billion this financial year.
Thodey said the group's top line growth guidance has come under pressure from the strength of the Australian dollar.
"While this is something of a wash at the profit line, we would expect it to have some impact on our top line revenue growth," he said.

-By Rebecca Thurlow, Dow Jones Newswires; 61-2-8235-2959; rebecca.thurlow@dowjones.com

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(END) Dow Jones Newswires
November 03, 2009 17:46 ET (22:46 GMT)

DJMN: PRESS RELEASE: Moody's Affirms Cp Rating Assigned To Cofco Capital Corp.'s Uscp Program
The following is a press release from Moody's Investors Service: New York, November 03, 2009 -- COFCO CAPITAL CORP. AMENDS EXISTING USCP PROGRAM COFCO Capital Corp. amended its existing U.S. commercial paper program supported by an letter of credit provided by Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank Nederland), New York Branch (Aaa/Prime-1/B+). The amendments include (i) renewing the letter of credit by extending the expiration date to October 20, 2010 and (ii) reducing the size of the letter of credit to $114.5 million. Rabobank's irrevocable, direct-pay letter of credit ensures the timely and complete payment of commercial paper upon maturity. Moody's rating on the commercial paper issued through this program is based primarily on the Rabobank's Prime-1 rating. U.S. Bank National Association. (Aa1/Prime-1/B+), acting as depositary, will draw on the letter of credit to pay maturing commercial paper. The program is authorized to issue up to $114.5 million of commercial paper. METHODOLOGY: The rating methodology used for the above-referenced USCP program is described in "LOC-Backed CP Programs: Structure is Key" (August 2000), which is available on www.moodys.com in the Rating Methodologies sub-directory under the Research & Ratings tab. Other methodologies and factors that may have been considered in the process of rating this issue can also be found in under the Credit Policy & Methodologies directory. Moody's publishes a weekly summary of structured finance credit, ratings and methodologies, available to all registered users of our website, at www.moodys.com/SFQuickCheck. CREDIT RATINGS ARE MIS'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES. MIS DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT.  CREDIT RATINGS DO NOT CONSTITUTE INVESTMENT OR FINANCIAL ADVICE, AND CREDIT RATINGS ARE NOT RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES.  CREDIT RATINGS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR.  MIS ISSUES ITS CREDIT RATINGS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE. Copyright 2009, Moody's Investors Service, Inc. and/or its licensors and affiliates including Moody's Assurance Company, Inc. (together, "MOODY'S"). All rights reserved. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY COPYRIGHT LAW AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. All information contained herein is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, such information is provided "as is" without warranty of any kind and MOODY'S, in particular, makes no representation or warranty, express or implied, as to the accuracy, timeliness, completeness, merchantability or fitness for any particular purpose of any such information. Under no circumstances shall MOODY'S have any liability to any person or entity for (a) any loss or damage in whole or in part caused by, resulting from, or relating to, any error (negligent or otherwise) or other circumstance or contingency within or outside the control of MOODY'S or any of its directors, officers, employees or agents in connection with the procurement, collection, compilation, analysis, interpretation, communication, publication or delivery of any such information, or (b) any direct, indirect, special, consequential, compensatory or incidental damages whatsoever (including without limitation, lost profits), even if MOODY'S is advised in advance of the possibility of such damages, resulting from the use of or inability to use, any such information. The credit ratings and financial reporting analysis observations, if any, constituting part of the information contained herein are, and must be construed solely as, statements of opinion and not statements of fact or recommendations to purchase, sell or hold any securities. NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY SUCH RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY MOODY'S IN ANY FORM OR MANNER WHATSOEVER. Each rating or other opinion must be weighed solely as one factor in any investment decision made by or on behalf of any user of the information contained herein, and each such user must accordingly make its own study and evaluation of each security and of each issuer and guarantor of, and each provider of credit support for, each security that it may consider purchasing, holding or selling. MOODY'S hereby discloses that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MOODY'S have, prior to assignment of any rating, agreed to pay to MOODY'S for appraisal and rating services rendered by it fees ranging from $1,500 to $2,400,000. Moody's Corporation (MCO) and its wholly-owned credit rating agency subsidiary, Moody's Investors Service (MIS), also maintain policies and procedures to address the independence of MIS's ratings and rating processes. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities who hold ratings from MIS and have also publicly reported to the SEC an ownership interest in MCO of more than 5%, is posted annually on Moody's website at www.moodys.com under the heading "Shareholder Relations - Corporate Governance - Director and Shareholder Affiliation Policy." Moody's Investors Service Pty Limited does not hold an Australian financial services licence under the Corporations Act. This credit rating opinion has been prepared without taking into account any of your objectives, financial situation or needs. You should, before acting on the opinion, consider the appropriateness of the opinion having regard to your own objectives, financial situation and needs.
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=zzvIlbd1ABWdI3%2FD8hQw4w%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires
November 03, 2009 17:46 ET (22:46 GMT)

DJMN: Moody's Affirms Cp Rating Assigned To Cofco Capital Corp.'s Uscp Program
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 17:46 ET (22:46 GMT)

DJMN: FTC Proposing Rules To Rein In Debt Settlement Industry
By Jessica Holzer   Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)--The Federal Trade Commission is drafting rules to rein in the debt-settlement industry, which is under fire for charging consumers steep upfront fees before delivering results.
The FTC is proposing to bar such companies from receiving any fees until they can verify that creditors have agreed to reduce or alter debts.
It also is seeking to beef up disclosures, requiring all debt-settlement providers to tell consumers upfront how long it will take to settle their debts and to inform them that creditors may continue to try to collect on the debt in the interim.
Consumer advocates applauded the FTC's moves.
"These amendments are crucial to protecting consumers from deception and ensuring that they do not pay for false promises rather than real results," a coalition of consumer groups wrote in joint comments to the agency.
The debt-settlement industry, however, warned that the changes will ravage companies. The upfront fee ban will "put many debt settlement companies out of business," The Association of Settlement Companies, or TASC, said in formal comments to the FTC.
Debt-settlement companies typically charge upfront fees for negotiating with creditors on behalf of borrowers seeking to pay back only a portion of their debts. They often appeal to people who can't afford to pay back their debts in full under a debt-management plan.
Achieving a settlement can take years. Additional debt and late fees can pile up as borrowers attempt to accumulate enough money to pay off creditors in a lump sum. Many providers require thousands of dollars to be paid upfront before any settlements are completed.
The FTC's moves come as states are cracking down on the industry. New York Attorney General Andrew Cuomo filed suit against two debt-settlement companies, Credit Solutions of America Inc. and Nationwide Asset Services Inc., earlier this year for false advertising and false business practices. Cuomo claimed the companies reaped millions of dollars from consumers but seldom delivered on their promises.
The FTC has received more than 220 comments on its proposed rules since it unveiled them in August. The agency on Wednesday will hold a public forum to discuss feedback on the proposals. It is unclear when the FTC will issue final rules, an agency spokeswoman said.
The debt-settlement industry argues that the FTC is ramming through the rule without giving it sufficient time to respond. It also contends the FTC is basing its actions on false claims from industry critics that a large share of debt-settlement companies don't provide any true service or benefit to consumers.
"The debt settlement industry should not be placed in the position of disproving the unfounded assertion that its services are not sufficiently valuable in order to avoid ruinous price regulation," TASC wrote in its comments to the agency.
Mike Croxson, president of CareOne Debt Relief Services Inc., argues the rules don't go far enough because they don't cover non-profit credit-counseling agencies. Such organizations, which account for a large portion of all debt-relief providers, are beginning to expand beyond traditional counseling and debt-management services into debt settlement, Croxson will testify at FTC Wednesday. Currently, the FTC has no authority over such non-profit organizations, which are overseen by the Internal Revenue Service and the states.
Croxson, whose says his company provides debt-settlement services but doesn't charge high upfront fees, supports the FTC's proposed ban on collecting fees before debts are settled. "This is an appropriate step to provide protection to consumers but there's a huge loophole," he said in an interview.

-By Jessica Holzer, Dow Jones Newswires; 202-862-9228; jessica.holzer@dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=zzvIlbd1ABWdI3%2FD8hQw4w%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires
November 03, 2009 17:43 ET (22:43 GMT)

DJMN: Fitch Assigns Initial 'BBB' IDR On Digital Realty Trust; Outlook Stable
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)
November 03, 2009 17:43 ET (22:43 GMT)

DJMN: PRESS RELEASE: Fitch Assigns Initial 'BBB' IDR on -2-
Contact: Sean Pattap +1-212-908-0642 or Steven Marks +1-212-908-9161, New York.
Media Relations: Sandro Scenga, New York, Tel: +1 212-908-0278, Email: sandro.scenga@fitchratings.com.
Additional information is available at 'www.fitchratings.com'. The ratings above have been initiated by Fitch as a service to investors.
ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS.  PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS.  IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'.  PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES.  FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.
 
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=zzvIlbd1ABWdI3%2FD8hQw4w%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires
November 03, 2009 17:43 ET (22:43 GMT)

DJMN: PRESS RELEASE: Fitch Assigns Initial 'BBB' IDR on Digital Realty Trust; Outlook Stable
The following is a press release from Fitch Ratings:
Fitch Ratings-New York-03 November 2009: Fitch Ratings has assigned initial credit ratings to Digital Realty Trust, Inc. (NYSE: DLR) and its operating partnership, Digital Realty Trust, L.P. (collectively, 'Digital Realty') as follows:
Digital Realty Trust, Inc.
--Issuer Default Rating (IDR) 'BBB';
--$159.8 million redeemable preferred stock 'BBB-';
--$502.5 million convertible preferred stock 'BBB-'.
Digital Realty Trust, L.P.
--IDR 'BBB';
--$750 million unsecured revolving credit facility 'BBB';
--$83 million senior unsecured notes 'BBB';
--$438.9 million senior unsecured exchangeable debentures 'BBB'.
The Rating Outlook is Stable.
In Fitch's opinion, Digital Realty, a real estate investment trust (REIT) that owns a diversified portfolio of datacenters and other technology real estate, has a credit profile consistent with a 'BBB' IDR due to three factors: the size of its unencumbered property pool and unencumbered cash flow, leverage levels as measured by net debt to recurring operating EBITDA, and demonstrated access to various sources of capital providing financial flexibility.
Digital Realty's unencumbered property pool is sizable and unencumbered cash flows are robust due to rising demand for datacenter space specifically in a challenging environment for commercial real estate generally. As of Sept. 30, 2009, the unencumbered pool consisted of 59 properties, which provides a solid foundation for unsecured lenders considering that the overall portfolio consists of 108 buildings comprising 79 properties. These properties include Internet gateways and corporate datacenter properties providing Turn-Key and Powered Base Building solutions, and to a lesser extent, technology manufacturing and office properties.
This diversified unencumbered pool covered unsecured debt by 3.3 times (x) as of Sept. 30, 2009 based on the methodology employed in the company's credit agreement, which utilizes a weighted average cap rate of approximately 8% on unencumbered net operating income. Fitch views the company's unencumbered asset coverage ratio as strong for a 'BBB' IDR. In addition, the company's unencumbered property cash flow was strong with unencumbered asset net operating income (NOI) to unsecured interest expense of 5.1x for 2009 year-to-date.
The company employs a conservative amount of leverage, and has reduced leverage over the past several years. As of Sept. 30, 2009, the company's net debt to recurring operating EBITDA ratio was 4.0x, compared with 4.3x as of Dec. 31, 2008 and 6.0x as of Dec. 31, 2007. The strength of this ratio is mitigated by the relatively limited history of datacenter property earnings relative to the earnings of other REITs. However, in Fitch's view, Digital Realty has a track record of improving earnings through redevelopment as demonstrated by same-store NOI growth of 18.1% in 2008 and a weighted average of 26.7% for the year-to-date period ended Sept. 30, 2009. Given this track record, Fitch believes that net debt to recurring operating EBITDA is not likely to increase above 5.0x in the near term.
The 'BBB' IDR and senior unsecured debt ratings further reflect Digital Realty's proven access to various forms of capital, including unsecured revolving credit, privately held senior unsecured notes, senior unsecured exchangeable notes, redeemable preferred stock, convertible preferred stock and common stock. This access provides a flexible capital structure with which to fund acquisitions and development and address maturing indebtedness. Recent financing activities include a $30 million commitment from Morgan Stanley under Digital Realty's revolving credit facility, bringing the total commitment size to $750 million, as well as mortgage financings on three European properties. Given the company's stock performance, common stock offerings also remain attractive to the company while providing additional cushion to unsecured lenders and positioning the company away from financial covenant limitations in its credit agreements. In Fitch's view, Digital Realty's covenants do not restrict the company's financial flexibility.
The ratings take into consideration certain offsetting factors including tenant concentration and tenant credit risk, the company's secured debt borrowing base, and Fitch's expectation that fixed charge coverage may moderate in the event that the company executes a public unsecured bond offering.
The company's top two tenants, SAVVIS, Inc. and Equinix, Inc., constituted 9.6% and 5.0% of Digital Realty's annualized rental revenue in third-quarter 2009, indicating that while tenant concentration has declined over the past several years, the company's exposure to its top two tenants remains material. However, the company's overall tenant roster remains highly granular with approximately 330 tenants, and includes managed service and network companies, colocation providers, and corporate enterprise users.
As a result of the exchangeable debenture transaction that Digital Realty completed in April, the company's secured debt borrowing base became a smaller component of the company's overall borrowing base. Secured debt as a percentage of undepreciated book capital and as a percentage of total debt was 25.5% and 58.5%, respectively, as of Sept. 30, 2009, compared with 31.6% and 74.1%, respectively, as of Dec. 31, 2008. Though the company's secured debt borrowing base as of Sept. 30, 2009 remains somewhat high for the 'BBB' rating level, Fitch anticipates that the company's secured debt as a percentage of total debt and as a percentage of undepreciated book capital will improve pro forma for an unsecured bond transaction.
Digital Realty's operating performance is driven by adjusted gross lease rents on Turn-Key datacenters in which energy costs are passed through to customers and triple net lease rents on Powered Base Building space. Leases typically include 3% annual rent bumps and terms of approximately 10 years, and Digital Realty recently demonstrated 10%-15% lease rollover rates. As such, the company's fixed charge coverage ratio (defined as recurring EBITDA less recurring capital expenditures less straight line rent adjustments divided by interest expense, capitalized interest and preferred dividends) is solid at 2.2x for the trailing 12 months ended Sept. 30, 2009. Fitch anticipates that fixed charge coverage will remain approximately 2.5x in a base case that assumes contractual lease bumps of approximately 3% for non-expiring leases and lease rollover rates of approximately 10% for expiring leases. However, fixed charge coverage could fall below 2.0x in a stressed environment that Fitch does not anticipate if leasing were to come under pressure or major tenants were to vacate (Fitch's stress case is derived from 'Updated Criteria for U.S. Equity REIT Risk-Adjusted Earnings,' dated Aug. 10, 2009 and available on the Fitch web site at 'www.fitchratings.com', in which the average annual same-store NOI decline for office and industrial properties is 8%).
The one-notch differential between Digital Realty's IDR and the 'BBB-' rating of the company's preferred stock is consistent with Fitch's criteria for corporate entities with an IDR of 'BBB'. Based on Fitch's criteria report on 'Equity Credit for Hybrids & Other Capital Securities,' dated June 25, 2008, also available at 'www.fitchratings.com', the company's preferred stock is 75% equity-like and 25% debt-like, since it is perpetual and has no covenants but has a cumulative deferral option or conversion feature. Net debt plus 25% of preferred stock to recurring operating EBITDA and debt plus 25% of preferred stock to undepreciated book capital were 4.5x and 48.1%, respectively, as of Sept. 30, 2009.
The Stable Rating Outlook takes into account the company's liquidity position and Digital Realty's management team. For Sept. 30, 2009 to Dec. 31, 2011, the company's sources of liquidity (cash, availability under the company's revolving credit facility and expected retained cash flows from operating activities) covered uses of liquidity (expected debt payments and maturities and recurring capital expenditures) by 2.8x, providing stability to Digital Realty's ability to fund acquisitions, development, and capital expenditures and address maturing indebtedness.
Fitch believes that Digital Realty's creditworthiness will continue to be supported by the company's management team with respect to real estate investment management, financial strategy, and technical expertise. For example, the management team's design of its POD Architecture modular datacenter configuration provides cost savings to tenants and cash flow stability. In addition, the company's pursuit of Leadership in Energy and Environmental Design (LEED) certifications by the U.S. Green Building Council, including the LEED Platinum Certification awarded for a recently completed datacenter in Santa Clara, CA demonstrates management's goals of energy efficiency and corporate responsibility.
The following factors may have a positive impact on the ratings:
--Fixed charge coverage remaining above 3.0x;
--Net debt to recurring operating EBITDA remaining below 4.0x;
--Further tenant diversification;
--Growth in the unencumbered portfolio.
The following factors may have a negative impact on the ratings:
--Fixed charge coverage remaining below 2.0x;
--Net debt to recurring operating EBITDA remaining above 6.0x;
--A liquidity shortfall;
--Unencumbered asset coverage of unsecured debt falling below 2.0x based on calculations under the company's credit agreements.
Digital Realty is an equity REIT headquartered in San Francisco, CA with $4 billion in undepreciated book assets and a total market capitalization of $6 billion as of Sept. 30, 2009. As of Sept. 30, 2009, Digital Realty's portfolio consisted of 79 properties, including one property held as an investment in an unconsolidated joint venture, located throughout North America and Europe comprising 13.8 million square feet.
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November 03, 2009 17:42 ET (22:42 GMT)

DJMN: Fitch Assigns Initial 'BBB' IDR on Digital Realty Trust; Outlook Stable
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November 03, 2009 17:42 ET (22:42 GMT)

DJMN: India Government May Allow ONGC To Auction Marginal Fields - Report
DOW JONES NEWSWIRES

The Indian government could allow Oil and Natural Gas Corp. (500312.BY) to auction 21 small and marginal fields that it hasn't found economical to develop through an international bidding process, the Press Trust of India reported Tuesday, citing unnamed company sources.
The fields comprise five oilfields, 14 gas fields and two offshore oil and gas fields with estimated cumulative crude reserves of 0.4969 million tons and gas reserves of 1.519 billion cubic meters, the PTI said.
The Petroleum Ministry is likely to seek approval from the Cabinet Committee on Economic Affairs soon for the new Marginal Field Policy which would allow ONGC and Oil India Ltd. (533106.BY) to auction marginal fields for development, the PTI reported the sources as saying.

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November 03, 2009 17:41 ET (22:41 GMT)

DJMN: NZ Fin Min: Govt Accounts Highlight Lagged Effect Of Recovery
WELLINGTON (Dow Jones)--New Zealand Finance Minister Bill English said Wednesday the government accounts for the quarter ended Sept. 30 confirm it will take time for the economic recovery to flow through to government revenue.
Earlier Wednesday, the Treasury said the core deficit--operating balance excluding gains and losses--for the three-months ended Sept. 30 was NZ$175 million, lower than the NZ$598 million forecast deficit based on the government's budget.
But the more closely watched operating balance before gains and losses, the Obegal, showed a quarterly deficit of NZ$2.02 billion against the forecast of NZ$1.15 billion.
"We are seeing some welcome early signs of New Zealand moving out of recession and we expect this will see unemployment peaking next year lower and sooner than previously forecast," English said.
"However, the road to recovery will be quite bumpy and this is reflected in the financial statements issued today. Certainly, the impact of the recession on the government's revenue will be felt for some time."
-By Simon Louisson, Dow Jones Newswires; 64-4-471-5990; simon.louisson@dowjones.com

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November 03, 2009 17:41 ET (22:41 GMT)

DJMN: Moody's Cuts BofA Covered-Bond Program Rtg To Aa2 Frmo Aa1 >BAC
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November 03, 2009 17:39 ET (22:39 GMT)

DJMN: Woodside Petroleum: 5-Year Bonds Have 4.5% Coupon
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November 03, 2009 17:39 ET (22:39 GMT)

DJMN: PRESS RELEASE: Moody's Upgrades Exco Resources' -2-
it fees ranging from $1,500 to $2,400,000. Moody's Corporation (MCO) and its wholly-owned credit rating agency subsidiary, Moody's Investors Service (MIS), also maintain policies and procedures to address the independence of MIS's ratings and rating processes. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities who hold ratings from MIS and have also publicly reported to the SEC an ownership interest in MCO of more than 5%, is posted annually on Moody's website at www.moodys.com under the heading "Shareholder Relations - Corporate Governance - Director and Shareholder Affiliation Policy." Moody's Investors Service Pty Limited does not hold an Australian financial services licence under the Corporations Act. This credit rating opinion has been prepared without taking into account any of your objectives, financial situation or needs. You should, before acting on the opinion, consider the appropriateness of the opinion having regard to your own objectives, financial situation and needs.
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November 03, 2009 17:39 ET (22:39 GMT)

DJMN: PRESS RELEASE: Moody's Upgrades Exco Resources' Cfr Rating To B1, Positive Outlook
The following is a press release from Moody's Investors Service: Approximately $445 Million of Debt Securities Affected New York, November 03, 2009 -- Moody's Investors Service upgraded EXCO Resources, Inc.'s (EXCO) Corporate Family Rating (CFR) to B1 from B2, Probability of Default Rating (PDR) to B1 from B2, and senior unsecured note rating to B3 (LGD 5; 84%) from Caa1 (LGD 5; 84%). The rating outlook is positive. The ratings had been under review for upgrade since July 17, 2009. These rating actions reflect EXCO's completion of its major de-leveraging program, yielding approximately $2 billion in debt reduction this year. The executed plan involved major asset sales whereas the original plan at the time of EXCO's 2005-2008 leveraged acquisitions had involved a major equity issuance through an initial public offering of master limited partnership (MLP) units EXCO had envisioned it would form to hold its acquired natural gas reserves. As a result, EXCO is smaller and somewhat less diversified than envisioned. On the other hand, we do view its continued organization as a C Corporation to be more credit friendly than if it had formed an MLP. The positive outlook reflects our view that EXCO's management strength, reinvestment productivity, production and cost trends, and leverage policy could warrant an upgrade in twelve to eighteen months, or sooner should clear strong production growth through high capital reinvestment efficiency, lower leverage on reserves and production, and outlook at the time are supportive. The ratings reflect EXCO's portfolio scale and diversification after asset sales, reduced leverage, final repayment of short-dated bullet debt that had been incurred to fund a third quarter 2008 acquisition, sound liquidity, modestly rising production trend achieved through capital spending largely within cash flow, strong 2009 and 2010 price hedging protection, and drilling and development risk and capital spending cost sharing achieved by forming its Haynesville Shale drilling and development and midstream joint venture with BG Group PLC. EXCO's pro-forma core acreage is in the East Texas/North Louisiana region (66% of reserves), the West Texas Permian Basin (8.3%), including Haynesville Shale properties that have been robust to date, and the Appalachian Basin (25%), including EXCO's emerging Marcellus Shale acreage. . The ratings are restrained by still substantial leverage, a need to gauge reserve and production replacement capital efficiency by observing production trends relative to capital outlays (gross of the BG capital spending carry), production relative to debt trends; reviewing year-end FAS 69 data; the particularly high capital intensity associated with sustaining and growing gas shale production; and caution on the long-term average natural gas prices. We believe it will not be until natural gas demand recovers, and a longer track record of aggressive sector drilling of highly productive but extremely capital intensive gas shales is observed, that a clearer picture of supportable long-term average natural gas prices would be at hand. The emergence of EXCO's Marcellus Shale play as a cost-effective growth engine would be important added drillbit diversification in support of EXCO's aggressive growth plans. EXCO's Haynesville Shale 50/50 drilling and development joint venture (JV) with BG, its $360 million sale of East Texas and MidContinent reserves to Encore Acquisition, pending $540 million sale of Oklahoma and shallow Appalachian reserves to Sheridan Holding Company, and pending $145 million sale of shallow Appalachian reserves to Enervest have restored EXCO's financial flexibility during the current downturn and ability to pursue opportunistic property transactions. BG paid EXCO $655 million for 50% of EXCO's Haynesville and related East Texas/North Louisiana upstream producing and non-producing upstream properties, $249 million for 50% of its associated midstream pipeline infrastructure, and will fund $400 million of EXCO's capital spending in the JV by covering 75% of EXCO's share of JV capital spending until the $400 million obligation is satisfied. EXCO remains well hedged through 2010, with EXCO estimating that it will be hedged on approximately two-thirds of its 2010 production at over $8/mcfe. Currently, it is far less hedged for 2011. Given uncertain long-term gas prices, we believe leverage should continue to decline to be compatible with the next higher rating. An upgrade would require comfort that leverage will be reduced further before the hedge portfolio rolls over into lower prices, and that production, cash flow coverage, and the price outlook are also supportive of a higher rating. EXCO's liquidity appears sound. Its hedging program and the BG capital spending carry indicate that EXCO may generate significant free cash flow in 2010. We estimate that BG will fund approximately $240 million of EXCO capex in 2010 and $160 million in 2011. Furthermore, borrowings under the parent's borrowing base revolver should be in the $80 million to $100 million range after the sales to Sheridan and Enervest close., with less than $490 million borrowed under the subsidiary revolver. The parent borrowing base after these sales will be $450 million. The subsidiary's borrowing base is $850 million. The emergence of EXCO's Haynesville Shale properties as an important long-term holding and as a partial monetization candidate contributed to both retaining the ratings pending execution of the leverage reduction plan and supporting the rating upgrade. The last rating action was on July 17, 2009 when EXCO was moved to a review for upgrade. The principal methodology used in rating EXCO was the Independent Exploration and Production (E&P) Industry rating methodology which can be found at www.moodys.com in the Credit Policy & Methodologies directory, in the Ratings Methodologies subdirectory. EXCO Resources, Inc. is headquartered in Dallas, Texas. CREDIT RATINGS ARE MIS'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES. MIS DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. 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ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY COPYRIGHT LAW AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. All information contained herein is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, such information is provided "as is" without warranty of any kind and MOODY'S, in particular, makes no representation or warranty, express or implied, as to the accuracy, timeliness, completeness, merchantability or fitness for any particular purpose of any such information. Under no circumstances shall MOODY'S have any liability to any person or entity for (a) any loss or damage in whole or in part caused by, resulting from, or relating to, any error (negligent or otherwise) or other circumstance or contingency within or outside the control of MOODY'S or any of its directors, officers, employees or agents in connection with the procurement, collection, compilation, analysis, interpretation, communication, publication or delivery of any such information, or (b) any direct, indirect, special, consequential, compensatory or incidental damages whatsoever (including without limitation, lost profits), even if MOODY'S is advised in advance of the possibility of such damages, resulting from the use of or inability to use, any such information. The credit ratings and financial reporting analysis observations, if any, constituting part of the information contained herein are, and must be construed solely as, statements of opinion and not statements of fact or recommendations to purchase, sell or hold any securities. NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY SUCH RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY MOODY'S IN ANY FORM OR MANNER WHATSOEVER. Each rating or other opinion must be weighed solely as one factor in any investment decision made by or on behalf of any user of the information contained herein, and each such user must accordingly make its own study and evaluation of each security and of each issuer and guarantor of, and each provider of credit support for, each security that it may consider purchasing, holding or selling. 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November 03, 2009 17:39 ET (22:39 GMT)

DJMN: Moody's Upgrades Exco Resources' Cfr Rating To B1, Positive Outlook
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November 03, 2009 17:39 ET (22:39 GMT)

DJMN: Woodside Petroleum: To Issue US$700M In Corporate bonds
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November 03, 2009 17:39 ET (22:39 GMT)

DJMN: Moody's: Covered Bond Rtg Closely Linked To Rtg Of Sponsor >BAC
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November 03, 2009 17:39 ET (22:39 GMT)

DJMN: Mizuho Corporate Bank Among Failed CIT Group's Creditors -Nikkei
NEW YORK (Nikkei)--Mizuho Corporate Bank has outstanding loans to U.S. lender CIT Group Inc., which filed for Chapter 11 bankruptcy protection in the U.S. on Sunday, the Nikkei reported in its Wednesday morning edition.
According to documents submitted by CIT to bankruptcy court, Mizuho Financial Group Inc. (8411.TO) unit Mizuho Corporate Bank is a creditor holding roughly $323 million in lending.
But, according to Mizuho Corporate Bank, the actual figure is much smaller.
Furthermore, because the bank has taken steps to secure its loans CIT, there will be no impact on its earnings, says an official involved with Mizuho Corporate Bank's U.S. operations.

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(END) Dow Jones Newswires
November 03, 2009 17:38 ET (22:38 GMT)

DJMN: UPDATE:Australia's PM Pledges Hardline Stance On Fiji Regime
By Enda Curran   Of DOW JONES NEWSWIRES
SYDNEY (Dow Jones)--Australian Prime Minister Kevin Rudd Wednesday pledged to maintain a hardline stance in relations with Fiji's ruling military government and flagged a "menu" of options to consider in response to Fiji's expulsion of Australia's high commissioner.
Marking a new low in relations, Fiji military leader Voreqe Bainimarama Tuesday ordered both the Australian and New Zealand high commissioners to leave the country within 24 hours, and also recalled its own high commissioner - the equivalent of an ambassador in relations between Commonwealth nations - in Canberra.
Australia already imposes sanctions on the Pacific Island nation, including travel restrictions on key figures in the Fijian ruling military government, which took power in a December 2006 coup.
"We will maintain a hard line in relation to this regime," Rudd told Australian Broadcasting Corp. radio.
The Prime Minister plans to speak with foreign minister Stephen Smith later to discuss the situation but didn't give details on any likely response.
"There is a menu of possibilities, but I should emphasize the nature of the sanctions we already have imposed, which of course has caused the Fijian regime to react with some anger towards Australian actions," Rudd said.
"We are not about to legitimize a regime which obtained power through military force, and we do not want that culture to spread anywhere else in the South Pacific."
On the Australian economy, Rudd told ABC radio that monetary policy remains expansionary and fiscal stimulus will be gradually unwound as outlined at the May budget.
"It (fiscal stimulus) is already coming off. That is the way we designed it," Rudd said. "Managing the recovery will be a challenging task for policy makers in Australia."

-By Enda Curran, Dow Jones Newswires;
61-2-8272-4687; enda.curran@dowjones.com

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November 03, 2009 17:38 ET (22:38 GMT)

DJMN: Moody's: EUR5.5B, $2B Of Bank Of Amer Securities Affected
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November 03, 2009 17:38 ET (22:38 GMT)

DJMN: PRESS RELEASE: Moody's Downgrades Bank Of America Covered Bond Program
The following is a press release from Moody's Investors Service: EUR 5.5 Billion and USD 2 Billion of securities affected. New York, November 03, 2009 -- Moody's Investors Service downgraded the ratings of the covered bonds issued by BA Covered Bond Program to Aa2 from Aa1, on review direction uncertain. The rating action follows a series of downgrades of Bank of America, the sponsor of the covered bond program, to Aa3 from Aaa between January 8, 2009 and March 25, 2009, and the bank's decision not to increase the amount of committed overcollateralization from its current level of approximately 4% to a level consistent with a Aa1 rating. The rating action reflects Moody's view that the rating of a covered bond with a high degree of exposure to market value risk (i.e. high refinancing risk) is closely linked to the rating of its sponsor, absent a significant amount of committed overcollateralization. Moody's considers this program to be particularly subject to market value risk. In the unlikely event that the sponsor bank defaults, the entire cover pool may need to be liquidated in a short period of time (see press releases for the BA Covered Bond Program, dated April 3, 2009 and July 10, 2009, in which we discuss this issue). Moody's considers overcollateralization to be committed when the sponsor is legally bound to maintain it and, in our opinion, it cannot be withdrawn in the future under stressful circumstances. The amount of overcollateralization in the program we consider to be committed is approximately 4%, which is the minimum amount of overcollaterization required under the program documents (corresponding to the asset percentage ceiling of 96%). The complete rating action is as follows: Issuer: BA Covered Bond Program Series 2007-1, Downgraded to Aa2; previously on July 10, 2009 Downgraded to Aa1 and Placed Under Review Direction Uncertain Series 2007-2, Downgraded to Aa2; previously on July 10, 2009 Downgraded to Aa1 and Placed Under Review Direction Uncertain Series 2007-3, Downgraded to Aa2; previously on July 10, 2009 Downgraded to Aa1 and Placed Under Review Direction Uncertain Series 2007-4, Downgraded to Aa2; previously on July 10, 2009 Downgraded to Aa1 and Placed Under Review Direction Uncertain The last prior rating action on these bonds was taken on July 10, 2009 when the Aaa ratings were downgraded to Aa1, and were maintained on review with direction uncertain. The principal methodologies used in rating this transactions were " Moody's Rating Approach to European Covered Bonds" (June 2005), " Timely Payment in Covered Bonds following Sponsor Bank Default" (March 2008) and "Assessing Swaps as Hedges in the Covered Bond Market" (September 2008), which can be found at www.moodys.com in the Credit Policy & Methodologies directory, in the Ratings Methodologies subdirectory. Other methodologies and factors that may have been considered in the process of rating this issuer can also be found in the Credit Policy & Methodologies directory. See also Moody's special report "Moody's Credit Rating Perspective on US Covered Bonds: Frequently Asked Questions" (October 2008), which can be found at www.moodys.com. Further information on Moody's analysis of this transaction is available on www.moodys.com. In addition, Moody's publishes a weekly summary of structured finance credit, ratings and methodologies, available to all registered users of our website, at www.moodys.com/SFQuickCheck. CREDIT RATINGS ARE MIS'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES. MIS DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT.  CREDIT RATINGS DO NOT CONSTITUTE INVESTMENT OR FINANCIAL ADVICE, AND CREDIT RATINGS ARE NOT RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES.  CREDIT RATINGS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR.  MIS ISSUES ITS CREDIT RATINGS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE. Copyright 2009, Moody's Investors Service, Inc. and/or its licensors and affiliates including Moody's Assurance Company, Inc. (together, "MOODY'S"). All rights reserved. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY COPYRIGHT LAW AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. All information contained herein is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, such information is provided "as is" without warranty of any kind and MOODY'S, in particular, makes no representation or warranty, express or implied, as to the accuracy, timeliness, completeness, merchantability or fitness for any particular purpose of any such information. Under no circumstances shall MOODY'S have any liability to any person or entity for (a) any loss or damage in whole or in part caused by, resulting from, or relating to, any error (negligent or otherwise) or other circumstance or contingency within or outside the control of MOODY'S or any of its directors, officers, employees or agents in connection with the procurement, collection, compilation, analysis, interpretation, communication, publication or delivery of any such information, or (b) any direct, indirect, special, consequential, compensatory or incidental damages whatsoever (including without limitation, lost profits), even if MOODY'S is advised in advance of the possibility of such damages, resulting from the use of or inability to use, any such information. The credit ratings and financial reporting analysis observations, if any, constituting part of the information contained herein are, and must be construed solely as, statements of opinion and not statements of fact or recommendations to purchase, sell or hold any securities. NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY SUCH RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY MOODY'S IN ANY FORM OR MANNER WHATSOEVER. Each rating or other opinion must be weighed solely as one factor in any investment decision made by or on behalf of any user of the information contained herein, and each such user must accordingly make its own study and evaluation of each security and of each issuer and guarantor of, and each provider of credit support for, each security that it may consider purchasing, holding or selling. MOODY'S hereby discloses that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MOODY'S have, prior to assignment of any rating, agreed to pay to MOODY'S for appraisal and rating services rendered by it fees ranging from $1,500 to $2,400,000. Moody's Corporation (MCO) and its wholly-owned credit rating agency subsidiary, Moody's Investors Service (MIS), also maintain policies and procedures to address the independence of MIS's ratings and rating processes. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities who hold ratings from MIS and have also publicly reported to the SEC an ownership interest in MCO of more than 5%, is posted annually on Moody's website at www.moodys.com under the heading "Shareholder Relations - Corporate Governance - Director and Shareholder Affiliation Policy." Moody's Investors Service Pty Limited does not hold an Australian financial services licence under the Corporations Act. This credit rating opinion has been prepared without taking into account any of your objectives, financial situation or needs. You should, before acting on the opinion, consider the appropriateness of the opinion having regard to your own objectives, financial situation and needs.
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=zzvIlbd1ABWdI3%2FD8hQw4w%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires
November 03, 2009 17:38 ET (22:38 GMT)

DJMN: Moody's Downgrades Bank Of America Covered Bond Program
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 17:38 ET (22:38 GMT)

DJMN: Moody's Affirms BNSF Short Term P-2 Rating >BNI
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)
November 03, 2009 17:36 ET (22:36 GMT)

DJMN: Moody's Review Of BNSF Rtgs Affects $10B Of Debt Securities
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)
November 03, 2009 17:34 ET (22:34 GMT)

DJMN: Japan Outlook: Cabinet Meeting; Mitsui, Nissan Earnings
TOKYO (Dow Jones)--Here are the major economic events scheduled in Japan on Wednesday. All times refer to GMT.
INDICATORS   No major indicators are scheduled for release Wednesday. - EVENTS N/A   News conferences after morning Cabinet meeting:      -Finance Minister Hirohisa Fujii      -Deputy Prime Minister Naoto Kan      -Banking Minister Shizuka Kamei      -Chief Cabinet Secretary Hirofumi Hirano      -Minister of Economy, Trade and Industry Minister       Masayuki Naoshima 0330   Bank of Japan Governor Masaaki Shirakawa will make a speech in Tokyo. - CORPORATE EVENTS
The following companies to report earnings:
0400   Oji Paper Co. (3861.TO) 0500   Mitsui & Co. (8031.TO) 0500   Mitsubishi Chemicals (4183.TO) 0600   Sumitmo Heavy Industries (6302.TO) 0600   Idemitsu Kosan Co. (5019.TO) 0600   Inpex Corp. (1605.TO) 0600   Tokyo Broadcast System Holdings (9401.TO) 0630   Orix Corp. (8591.TO) 0630   Cosmo Oil Co. (5007.TO) 0725   Nissan Motor Co. (7201.TO)
-Tokyo Bureau; Dow Jones Newswires; +813-6895-7550

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(END) Dow Jones Newswires
November 03, 2009 17:34 ET (22:34 GMT)

DJMN: PRESS RELEASE: Moody's Reviews Ratings Of Bnsf For Possible Upgrade
The following is a press release from Moody's Investors Service: Approximately $10 billion of debt securities affected New York, November 03, 2009 -- Moody's Investors Service placed its ratings for Burlington Northern Santa Fe Corporation's ("BNSF"), senior unsecured at Baa1 under review for possible upgrade. At the same time, Moody's affirmed the company's short term P-2 rating. This review was prompted by today's announcement of Berkshire Hathaway, Inc.'s ('Berkshire') plan to acquire the remaining 77.4% of the shares of BNSF that it does not already own in a transaction valued at about $44 billion, including existing BNSF debt. Because the transaction will be funded with a combination of cash and Berkshire stock, with no explicit upstream support provided by BNSF, it is not expected to have any material adverse implications for the financial profile of BNSF. At the same time, Moody's does not anticipate that Berkshire will guarantee or provide any other explicit support for the obligations of BNSF. In its review, Moody's will assess the future financial policies and liquidity profile of BNSF under its new ownership structure, and the degree to which BNSF would have greater potential to direct its free cash flow toward investing in its business as a wholly owned subsidiary of Berkshire. If Berkshire's stated goals and financial policies for BNSF permit greater re-investment in the business and exclude any greater levels of distributions or return of capital to shareholders, Moody's believes the ratings could be raised, but that the increase would be unlikely to exceed one rating notch. The Baa1 rating of BNSF, and the A3 senior unsecured rating of its principal operating subsidiary, the BNSF Railway Company have historically reflected a strong operating profile, with good cash flow and debt coverage metrics through both strong and weak periods in the economic cycle. However, the ratings for BNSF have been constrained by its propensity to return a substantial portion of free cash flow to shareholders by means of aggressive share repurchases. With the acquisition by Berkshire Hathaway, Moody's believes that this concern could be substantially reduced for BNSF. The potential for BNSF to increase investments in its business while maintaining its debt capacity could result in a considerable competitive advantage for the company over other North American railroads. The last rating action was on September 21, 2009, when a Baa1 rating was assigned to a senior unsecured notes offering. The principal methodology used in rating BNSF was Moody's Global Freight Railroad Methodology, published in March 2009 and available on www.moodys.com in the Rating Methodologies sub-directory under the Research & Ratings tab. Other methodologies and factors that may have been considered in the process of rating this issuer can also be found in the Rating Methodologies sub-directory on Moody's website. On Review for Possible Upgrade: ..Issuer: Atchison, Topeka and Santa Fe Railway Company ....Senior Secured Equipment Trust, currently Aa2 ..Issuer: BNSF Funding Trust I ....Preferred Stock Preferred Stock, currently Baa3 ..Issuer: BNSF Railway Company ....Senior Secured Equipment Trust, currently a range of A1 to Aa2 ....Senior Secured Pass-Through, currently Aa2 ....Senior Secured Regular Bond/Debenture, currently A2 ..Issuer: Burlington Northern Santa Fe Corporation ....Issuer Rating, currently Baa1 ....Senior Unsecured Regular Bond/Debenture, currently Baa1 ....Senior Unsecured Shelf, currently (P)Baa1 ..Issuer: Burlington Northern, Inc. ....Senior Unsecured Regular Bond/Debenture, currently A3 ..Issuer: Northern Pacific Railway Company ....Senior Secured Regular Bond/Debenture, currently A2 Outlook Actions: ..Issuer: Atchison, Topeka and Santa Fe Railway Company ....Outlook, Changed To Rating Under Review From Stable ..Issuer: BNSF Funding Trust I ....Outlook, Changed To Rating Under Review From Stable ..Issuer: BNSF Railway Company ....Outlook, Changed To Rating Under Review From Stable ..Issuer: Burlington Northern Santa Fe Corporation ....Outlook, Changed To Rating Under Review From Stable ..Issuer: Burlington Northern, Inc. ....Outlook, Changed To Rating Under Review From Stable ..Issuer: Northern Pacific Railway Company ....Outlook, Changed To Rating Under Review From Stable Burlington Northern Santa Fe Corporation ("BNSF") owns the BNSF Railway Company, the 2nd largest Class I railroad. BNSF Railway operates over 32,000 route miles of track in the western U.S. CREDIT RATINGS ARE MIS'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES. MIS DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT.  CREDIT RATINGS DO NOT CONSTITUTE INVESTMENT OR FINANCIAL ADVICE, AND CREDIT RATINGS ARE NOT RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES.  CREDIT RATINGS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR.  MIS ISSUES ITS CREDIT RATINGS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE. Copyright 2009, Moody's Investors Service, Inc. and/or its licensors and affiliates including Moody's Assurance Company, Inc. (together, "MOODY'S"). All rights reserved. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY COPYRIGHT LAW AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. All information contained herein is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, such information is provided "as is" without warranty of any kind and MOODY'S, in particular, makes no representation or warranty, express or implied, as to the accuracy, timeliness, completeness, merchantability or fitness for any particular purpose of any such information. Under no circumstances shall MOODY'S have any liability to any person or entity for (a) any loss or damage in whole or in part caused by, resulting from, or relating to, any error (negligent or otherwise) or other circumstance or contingency within or outside the control of MOODY'S or any of its directors, officers, employees or agents in connection with the procurement, collection, compilation, analysis, interpretation, communication, publication or delivery of any such information, or (b) any direct, indirect, special, consequential, compensatory or incidental damages whatsoever (including without limitation, lost profits), even if MOODY'S is advised in advance of the possibility of such damages, resulting from the use of or inability to use, any such information. The credit ratings and financial reporting analysis observations, if any, constituting part of the information contained herein are, and must be construed solely as, statements of opinion and not statements of fact or recommendations to purchase, sell or hold any securities. NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY SUCH RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY MOODY'S IN ANY FORM OR MANNER WHATSOEVER. Each rating or other opinion must be weighed solely as one factor in any investment decision made by or on behalf of any user of the information contained herein, and each such user must accordingly make its own study and evaluation of each security and of each issuer and guarantor of, and each provider of credit support for, each security that it may consider purchasing, holding or selling. MOODY'S hereby discloses that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MOODY'S have, prior to assignment of any rating, agreed to pay to MOODY'S for appraisal and rating services rendered by it fees ranging from $1,500 to $2,400,000. Moody's Corporation (MCO) and its wholly-owned credit rating agency subsidiary, Moody's Investors Service (MIS), also maintain policies and procedures to address the independence of MIS's ratings and rating processes. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities who hold ratings from MIS and have also publicly reported to the SEC an ownership interest in MCO of more than 5%, is posted annually on Moody's website at www.moodys.com under the heading "Shareholder Relations - Corporate Governance - Director and Shareholder Affiliation Policy." Moody's Investors Service Pty Limited does not hold an Australian financial services licence under the Corporations Act. This credit rating opinion has been prepared without taking into account any of your objectives, financial situation or needs. You should, before acting on the opinion, consider the appropriateness of the opinion having regard to your own objectives, financial situation and needs.
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=zzvIlbd1ABWdI3%2FD8hQw4w%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires
November 03, 2009 17:33 ET (22:33 GMT)

DJMN: Moody's Reviews Ratings Of Bnsf For Possible Upgrade
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 17:33 ET (22:33 GMT)

DJMN: Investors Near Settlement Of Skype Dispute, Closing Of Deal
By Scott Morrison and Geoffrey A. Fowler
SAN FRANCISCO (Dow Jones)--A messy legal dispute that has cast a cloud over eBay Inc.'s (EBAY) pending sale of Internet telephony unit Skype could soon be resolved, with a key member of the investor group being dropped, people familiar with the situation said.
An agreement to end litigation involving Skype could be announced as early as this week, the people said.
"The probability of the deal getting done is very, very high," said one of the people, who asked not to be named.
The proposed settlement would be between the investor group that agreed to buy 65% of Skype from eBay for $2 billion and the Internet telephony service's founders, who have sued in an effort to block the deal. Integral to the proposed settlement would be dropping a key figure from the investor group and adding Skype co-founders Niklas Zennstrom and Janus Friis.
Dropped from the group would be London-based Index Ventures Management S.A., home to partner Mike Volpi. Previously, Volpi served as chief executive of Joost NV, an online video company created by Zennstrom and Friis.
Volpi was the driving force behind the investor group's bid for Skype, but quickly found himself at the center of controversy after Zennstrom and Friis alleged in legal filings that he had breached his fiduciary duty while CEO of Joost by using confidential information to broker the group's bid for Skype.
Under the proposed agreement, Zennstrom and Friis would receive an undisclosed stake in Skype and at least one seat on the company's board. They would also end a separate intellectual property dispute against eBay. It was not immediately clear whether they would drop their suit against Volpi and Index.
The legal tussle stems from an agreement struck in September by eBay to sell a majority stake in Skype to a group of investors. In addition to Index Ventures, the group includes private-equity firm Silver Lake, venture-capital firm Andreessen Horowitz and the Canada Pension Plan Investment Board.
Zennstrom and Friis had themselves been interested in buying Skype from eBay before the investor group stepped in.
One person familiar with the situation said Zennstrom and Friis let it be known they would be willing to negotiate an end to their dispute over Skype.
Representatives of Index Ventures and Silver Lake did not immediately respond to requests for comment. Andreesen Horowitz was not available for comment.
EBay CEO John Donahoe has said the deal would close this month.

-By Scott Morrison; Dow Jones Newswires; 415-765-6118;scott.morrison@dowjones.com; and Geoffrey A. Fowler; Wall Street Journal; 415-765-8258; geoffrey.fowler@wsj.com

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(END) Dow Jones Newswires
November 03, 2009 17:32 ET (22:32 GMT)

DJMN: CBOT Financials Close, Part 2 - Nov 3
Contract    Open       High      Low     Prev   Settle      Chg 5 Year Interest Rate Swap (e-cbot) Dec  '09  105'23.5 105'26.0 105'11.0 105'20.0 105'13.0  -0'07.0 Mar  '10  105'13.0 105'13.0 105'13.0 105'20.0 105'13.0  -0'07.0 Jun  '10  105'13.0 105'13.0 105'13.0 105'20.0 105'13.0  -0'07.0 Sep  '10  105'13.0 105'13.0 105'13.0 105'20.0 105'13.0  -0'07.0 10 Year Interest Rate Swap (e-cbot) Dec  '09  103'01.0 103'02.0 102'11.0 102'27.0 102'13.0  -0'14.0 Mar  '10  102'13.0 102'13.0 102'13.0 102'27.0 102'13.0  -0'14.0 Jun  '10  102'13.0 102'13.0 102'13.0 102'27.0 102'13.0  -0'14.0 Sep  '10  102'13.0 102'13.0 102'13.0 102'27.0 102'13.0  -0'14.0 30 Year Interest Rate Swap (e-cbot) Dec  '09   95'13.0  95'13.0  95'13.0  96'17.0  95'13.0  -1'04.0 Mar  '10   95'13.0  95'13.0  95'13.0  96'17.0  95'13.0  -1'04.0 Jun  '10   95'13.0  95'13.0  95'13.0  96'17.0  95'13.0  -1'04.0 Sep  '10   95'13.0  95'13.0  95'13.0  96'17.0  95'13.0  -1'04.0 mini-sized Eurodollar (e-cbot) Mar  '11    98.035   98.035   98.035   98.060   98.035   -0.025 Jun  '11    97.675   97.675   97.675   97.705   97.675   -0.030 NOTE: It is possible for a settlement price to fall outside the daily high and low due to an exchange's specific rules on how a settlement price is determined.
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(END) Dow Jones Newswires
November 03, 2009 17:31 ET (22:31 GMT)

DJMN: Chmn MOGLIA Sells 26,000 Of TD AMERITRADE HOLDING CORP >AMTD
SOURCE: Form 4 ISSUER: TD AMERITRADE HOLDING CORP SYMBOL: AMTD FILER: MOGLIA JOSEPH H TITLE: Chairman of the Board DATE               TRANSACTION              SHARES       PRICE           VALUE 10/30/09-11/3/09   Exercise*                26,000       $3.90        $101,400 10/30/09-11/3/09   Sale                     26,000      $19.23        $500,001 (10b5-1 Plan Indicated)** OWNERSHIP: 588,210 (Direct)  6,683 (Indirect)  * - 17,000 shares exercised 3 years, 3 months before expiration.      9,000 shares exercised 3 years, 4 months before expiration. ** - A 10b5-1 plan enables an insider to establish a program to make trans-      actions according to an advance plan.  Such a program allows an insider      to continue with planned transactions even if he or she comes into      possession of material non-public information.  The Form 4 is filed with the Securities and Exchange Commission by insiders  to report transactions in their companies' shares.  Open market purchases  and sales must be reported within two business days of the transaction. Insider Data Source: The Washington Service                     (info@washingtonservice.com or 301-913-5100)
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(END) Dow Jones Newswires
November 03, 2009 17:31 ET (22:31 GMT)

DJMN: Colombia Stocks Fall 1.4% Pulled By Ecopetrol; Peso Stronger
BOGOTA (Dow Jones)--The Colombian IGBC stock index fell 1.4% Tuesday, dragged down by shares of state-controlled oil company Ecopetrol SA (EC, ECOPETROL.BO).
The IGBC stock index fell to 10,536.74 points, its lowest level since Sept. 14, when it ended at 10,493.95 points.
Ecopetrol lost 2.6% to close at 2,485 Colombian pesos ($1.25) as crude futures on the New York Mercantile Exchange were lower during Colombia's session.
"The oil price later recovered, but the market here had already closed," said Jaime Rodriguez, a market analyst with local brokerage Asesores en Valores. The Colombian market closes at 1800 GMT.
Preferred shares of the country's largest bank, Bancolombia SA (CIB, BCOLOMBIA.BO), fell 1% to COP19,500.
The Colombian peso strengthened to 1,988.5 to the dollar from COP1,994.1 on Friday. The Colombian markets were closed on Monday to celebrate All Saints' Day.
The yield on the Colombian benchmark 2020 peso treasury bond fell to 8.329% from 8.400% on Friday.

-By Inti Landauro, Dow Jones Newswires; 57-1-610-70 44 Ext 1131; colombia@dowjones.com

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(END) Dow Jones Newswires
November 03, 2009 17:31 ET (22:31 GMT)

DJMN: PRESS RELEASE: S&P Lowers, Then Withdraws CAF ABS Investment LLC Ratings
The following is a press release from Standard & Poor's: OVERVIEW     -- We lowered our ratings on the class A-1A, A-1B, and A-2 notes issued by CAF ABS Investment LLC (CAFI), a medium-term note program, to 'B' from 'BBB' and removed them from CreditWatch with negative implications.     -- We subsequently withdrew our ratings on these notes.     -- The downgrades and subsequent rating withdrawals reflect CAFI's purchase of a portfolio of 24 CLOs, CDOs, credit card ABS, and RMBS, as well as changes in CAFI's operational framework. NEW YORK (Standard & Poor's) Nov. 3, 2009--Standard & Poor's Ratings Services today lowered its ratings on the class A-1A, A-1B, and A-2 medium-term notes issued by CAF ABS Investment LLC (CAFI) to 'B' from 'BBB' and removed them from CreditWatch with negative implications. We subsequently withdrew the ratings on these notes (see list).     The downgrades follow CAFI's purchase of a portfolio of 24 collateralized loan obligations (CLOs), collateralized debt obligations (CDOs), credit card asset-backed securities (ABS), and residential mortgage-backed securities (RMBS) with ratings ranging from 'AAA' to 'CCC' and with maturity dates ranging from May 20, 2013, to Nov. 5, 2041 (according to the Oct. 15, 2009, servicer report provided by the manager, Chicago Asset Funding LLC). The maturity dates for all 24 of these securities exceed the final maturity date of the class A-1 notes (Jan. 16, 2012), and the maturity dates for eight of the securities exceed the final maturity date of the class A-2 notes (Jan. 15, 2021). Given the maturity date mismatch, we believe it is likely that the manager will have to liquidate the CAFI portfolio in order to repay the class A-1 notes by their final maturity date. Furthermore, the manager has indicated a desire to continue to opportunistically sell securities in the CAFI portfolio and purchase new securities.     We withdrew our ratings on the notes because the current operational framework of CAFI--which exposes the holders of the notes to market-value risks associated with the ongoing purchase and sale of portfolio securities--is no longer consistent with the framework under which we initially assigned our ratings. Furthermore, the current program documents do not, in our view, provide a sufficient basis upon which to maintain our ratings given the changes in the operational framework. In addition, the manager has submitted a request for the ratings to be withdrawn.     We initially assigned 'AAA' ratings to the CAFI notes on Feb. 7, 2006, based on the 'AAA' rating on a single underlying ABS, which CAFI purchased at issuance on a match-funded basis (that is, the maturity date and interim interest payment dates of the CAFI notes mirrored those of the underlying 'AAA' ABS). The 'AAA' rating on the underlying ABS reflected a surety bond provided by Financial Guaranty Insurance Co. (FGIC), which was rated 'AAA' at the time. We subsequently lowered our ratings on the CAFI notes several times following rating actions on FGIC: to 'AA/Watch Dev' on Feb. 21, 2008; to 'A/Watch Dev' on Feb. 26, 2008; to 'A/Watch Neg' on March 24, 2008; and to 'BBB' (Standard & Poor's underlying rating, or SPUR) on March 31, 2008.     CAFI sold the underlying ABS in October 2008, and we learned in August 2009 that it had used the proceeds from the sale, which it initially had invested in short-term high-quality eligible investments, to purchase the portfolio of CLOs, CDOs, credit card ABS, and RMBS. On Aug. 21, 2009, we placed our ratings on the notes on CreditWatch negative after learning from the manager that it had used the proceeds to purchase the CLOs, CDOs, credit card ABS, and RMBS. RELATED RESEARCH     -- "Ratings On CAF ABS Investment LLC's Medium-Term Notes Placed On CreditWatch Negative," published Aug. 21, 2009.     -- "Rating Methodology And Process For U.S. Asset-Backed Medium-Term Notes," published Jan. 23, 2007.     -- "CDO Spotlight: Criteria For Rating Market Value CDO Transactions," published Sept. 15, 2005. RATING ACTION CAF ABS Investment LLC                       Rating Class     To           Interim       From A-1A      NR           B             BBB/Watch Neg A-1B      NR           B             BBB/Watch Neg A-2       NR           B             BBB/Watch Neg NR-Not rated. Primary Credit Analyst: Thomas Dunn, New York (1) 212-438-1623;                        thomas_dunn@standardandpoors.com Secondary Credit Analyst: M. Scott Sehnert, New York (1) 212-438-2603;                          m_scott_sehnert@standardandpoors.com Analytic services provided by Standard & Poor's Ratings Services (" Ratings Services ") are the result of separate activities designed to preserve the independence and objectivity of ratings opinions. The credit ratings and observations contained herein are solely statements of opinion and not statements of fact or recommendations to purchase, hold, or sell any securities or make any other investment decisions. Accordingly, any user of the information contained herein should not rely on any credit rating or other opinion contained herein in making any investment decision. Ratings are based on information received by Ratings Services. Other divisions of Standard & Poor's may have information that is not available to Ratings Services. Standard & Poor's has established policies and procedures to maintain the confidentiality of non-public information received during the ratings process. Ratings Services receives compensation for its ratings. Such compensation is normally paid either by the issuers of such securities or third parties participating in marketing the securities. While Standard & Poor's reserves the right to disseminate the rating, it receives no payment for doing so, except for subscriptions to its publications. Additional information about our ratings fees is available at www.standardandpoors.com/usratingsfees. Copyright (c) 2009, Standard & Poor's Financial Services LLC, a subsidiary of The McGraw-Hill Companies, Inc.
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(END) Dow Jones Newswires
November 03, 2009 17:31 ET (22:31 GMT)

DJMN: S&P Lowers, Then Withdraws CAF ABS Investment LLC Ratings
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 17:31 ET (22:31 GMT)

DJMN: Chevron Exec: Venezuela Relations All Business, No Politics
By Dan Molinski
Of DOW JONES NEWSWIRES

CARACAS (Dow Jones)--Chevron Corp.'S (CVX) chief for Latin America and Africa says the company aims to keep business and politics separate as it views a possible multibillion dollar, decades-long investment to drill for oil in Venezuela.
In an interview Tuesday with Dow Jones Newswires on the sidelines of an oil conference, Ali Moshiri expressed few concerns about any of the political risks often attributed to Venezuela's populist-socialist leader Hugo Chavez. "Our relationship with Venezuela is business-to-business," he said.
Moshiri, who heads exploration and production for Latin America and Africa, also indicated that since the U.S. government maintains diplomatic relations with Chavez, the potential for doing good business in Venezuela still exists.
"As long as there is a government-to-government relationship, we think we have the right to participate," the Chevron executive said.
"The day that (government relationship) doesn't happen, that's a different story."
Chevron is one of the largest private oil companies in Venezuela, operating with Venezuela's state oil company PdVSA on exploration and production projects. It has onshore and offshore operations, and total 2008 daily production averaged 268,000 barrels in liquids.
Chevron is one of nearly 20 companies bidding for the right to produce heavy oil in the eastern Orinoco as part of the Carabobo drilling tender. The bidding for the first several blocks was due to take place earlier this year, but has been pushed back to early 2010 as the government and companies discuss modifications to royalties and taxes and other issues.
Winning bidders would be obligated to enter joint ventures with PdVSA, which would have majority control. The areas drilled could produce 400,000 barrels a day, and total costs could be $10 billion to $20 billion.
There are immense proven reserves in the fields where the Carabobo drilling would take place, but the oil is a heavy and extra-heavy, tar-like grade, which makes the refining process expensive.
Moshiri acknowledged those challenges, but suggested Carabobo could be a good opportunity to fill a gap between supply and demand that could be coming several years from now.
"Heavy oil is a long-term project," he said. "The cost of finding it is usually zero but the cost of getting it out of the ground is normally high."
Venezuela's government has already told oil companies they will have to pay the lion's share for needed upgraders to change the heavy crude into marketable oil.
But Moshiri suggested Chevron could be willing to shoulder that burden to get its hands on Venezuela's Orinoco heavy crude.
"Heavy and extra heavy oil has got to fill that gap" between supply and demand that will be coming, he said. He added: "It's hard to turn your back on resources."
Regarding concerns about the Chavez government, which has nationalized several foreign oil companies in recent years, and forced changes to contracts of others, he said Chevron doesn't necessarily contest such changes, either by Chavez or other governments around the globe.
"In terms of changes proposed by governments...if it adds value to us and our shareholders we accept it and move on," he said.

-By Dan Molinski, Dow Jones Newswires; (58) 414 120 5738; dan.molinski@dowjones.com

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(END) Dow Jones Newswires
November 03, 2009 17:30 ET (22:30 GMT)

DJMN: DJ Standard & Poor's Closing Stock Indexes
High     Low     Close    Change                 ------   ------   -----    ------ MidCap 400       670.43   655.67   670.03     7.87 SmallCap 600     302.67   296.22   302.67     3.98 500 Stocks      1046.36  1033.94  1045.41     2.53 100 Stocks       485.47   480.66   484.90    -0.25 Source: WSJ Market Data Group
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(END) Dow Jones Newswires
November 03, 2009 17:30 ET (22:30 GMT)

DJMN: DJ NYSE Composite Market Diary
Today     Previous               -----     -------- Advanced        1876     1634 Declined        1171     1402 Unchanged         97      129 Total Issues    3144     3165 New Highs         35       26 New Lows          10       13 Source: WSJ Market Data Group
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(END) Dow Jones Newswires
November 03, 2009 17:30 ET (22:30 GMT)

DJMN: Peru's Closing Stock Prices
Close      Change    % Change Backus Johnston                     3.90  Not Traded Buenaventura                      108.00       +8.00       +8.00 Cementos Lima                       3.20        Unch        Unch Cerro Verde                        23.00       -0.20       -0.86 Credicorp                          70.50       +0.67       +0.96 Southern Copper                    32.80       +1.18       +3.73 Volcan                              3.40       -0.01       -0.29 Prices in Peruvian Nuevos Soles Source: Thomson Reuters
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(END) Dow Jones Newswires
November 03, 2009 17:30 ET (22:30 GMT)

DJMN: NZ Fin Min: Road To Econ Recovery Will Be "Bumpy"
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 17:29 ET (22:29 GMT)

DJMN: New York Harbor F.O.B. Fuel Oil And Gasoline Barge Prices
Tuesday     Monday Fuel oil no. 2          2.0308      2.0100 Gasoline, premium         n/a       2.1453 Gasoline, unleaded      2.0067      2.0016
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(END) Dow Jones Newswires
November 03, 2009 17:29 ET (22:29 GMT)

DJMN: NZ Fin Min:Unemployment Will Peak Lower, Sooner Than Expected
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 17:28 ET (22:28 GMT)

DJMN: TCS, Wipro Eye $300M-$400M Target Outsourcing Deal - Report
DOW JONES NEWSWIRES

Tata Consultancy Services Ltd. (532540.BY) and Wipro Ltd. (507685.BY) are among companies pursuing a deal involving U.S. company Target's captive technology center, which could be bundled with a $300 million-$400 million outsourcing contract, the Economic Times reported on its Web site, citing unnamed sources.
"We have been in discussions with them for the past few months...there is no conclusion yet about how this transaction can be structured, and it's very early days," the Web site quoted a senior executive at one of the companies exploring the transaction as saying.
Officials at Target didn't reply to an email query, while TCS, Infosys and Wipro declined to comment, the Web site said.

Full story: http://economictimes.indiatimes.com/infotech/ites/TCS-Wipro-eye-400-mn-Target-outsourcing-deal/articleshow/5194473.cms

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(END) Dow Jones Newswires
November 03, 2009 17:28 ET (22:28 GMT)

DJMN: NZ Fin Min: Govt Accounts Highlight Lagged Effect Of Recovery
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2009 17:28 ET (22:28 GMT)

DJMN: Chicago Currency Settlement Prices
LIFETIME         OPEN          OPEN     HIGH      LOW   SETTLE     CHG     HIGH      LOW        INT Japan Yen DEC 09  1.1067   1.1130   1.1042   1.1073  +.0007   1.1368    .9446    107,599 MAR 10  1.1076   1.1134   1.1051   1.1080  +.0007   1.1373   1.0276        280 Est vol 74,284 vol Mon 98,090 open int 107,914 -1,590 Canadian Dollar DEC 09   .9280    .9385    .9213    .9367  +.0098    .9937    .7712     80,484 MAR 10   .9261    .9384    .9215    .9367  +.0098    .9794    .7731      2,732 JUN 10   .9236    .9380    .9216    .9366  +.0098    .9770    .7875        383 SEP 10   .9255    .9376    .9232    .9361  +.0099    .9745    .8548        420 DEC 10   .9258    .9371    .9226    .9359  +.0101    .9736    .8680        210 MAR 11   .9370    .9370    .9370    .9357  +.0103    .9736    .9244          2 Est vol 84,202 vol Mon 84,173 open int 84,231 -1,739 British Pound DEC 09  1.6397   1.6453   1.6258   1.6398  +.0015   1.9396   1.3620     95,498 MAR 10  1.6361   1.6444   1.6258   1.6391  +.0015   1.8054   1.4160        403 Est vol 128,410 vol Mon 130,322 open int 96,041 -1,208 Swiss Franc DEC 09   .9787    .9811    .9675    .9737  -.0037    .9984    .8473     50,527 MAR 10   .9731    .9813    .9683    .9744  -.0036    .9971    .8969        255 Est vol 70,826 vol Mon 63,126 open int 50,788 +1,251
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(END) Dow Jones Newswires
November 03, 2009 17:27 ET (22:27 GMT)

DJMN: CME Financial Futures Prices, Volumes, Open Interest
LIFETIME         OPEN          OPEN     HIGH      LOW   SETTLE     CHG     HIGH      LOW        INT 1 Month Libor (CME) NOV 09 99.7500  99.7550  99.7500  99.7525     ...  99.7800  97.8300      6,578 DEC 09 99.7350  99.7350  99.7350  99.7350  -.0050  99.7450  98.5025      8,866 JAN 10 99.7025  99.7150  99.7025  99.7025  +.0050  99.7150  98.5400      5,820 FEB 10 99.7100  99.7100  99.6975  99.6975     ...  99.7125  98.5525     10,029 MAR 10 99.6350  99.6375  99.6250  99.6350  +.0025  99.6375  98.5125      2,257 APR 10 99.5525  99.5550  99.5525  99.5500  -.0025  99.5550  98.3500      5,203 AUG 10 99.1725  99.1725  99.1725  99.1725     ...  99.1750  98.6250      4,367 OCT 10 98.8775  98.8825  98.8775  98.8825  +.0050  98.8975  98.6725        474 Est vol 494 vol Mon 689 open int 48,487 +141 Eurodollar (CME) NOV 09 99.7050  99.7125  99.7050  99.7075     ...  99.7125  98.7050     62,211 DEC 09 99.6850  99.6850  99.6750  99.6800     ...  99.6900  91.1600  1,035,761 JAN 10 99.6250  99.6300  99.6150  99.6200     ...  99.6300  99.0600     15,311 FEB 10 99.5750  99.5750  99.5650  99.5600  -.0100  99.5800  99.2300      3,235 MAR 10 99.5000  99.5150  99.4800  99.4900  -.0050  99.5150  91.4850  1,073,006 JUN 10 99.2000  99.2300  99.1800  99.1900  -.0050  99.2300  92.0000    947,886 SEP 10 98.8300  98.8800  98.8100  98.8200  -.0100  98.8800  92.0800    695,617 DEC 10 98.4300  98.4900  98.4000  98.4100  -.0200  98.4900  91.0100    828,521 MAR 11 98.0600  98.1250  98.0250  98.0350  -.0250  98.1400  91.0600    541,712 JUN 11 97.6950  97.7750  97.6650  97.6750  -.0300  97.9350  92.1300    511,889 SEP 11 97.3900  97.4600  97.3450  97.3550  -.0400  97.8450  92.1000    429,722 DEC 11 97.0850  97.1700  97.0450  97.0550  -.0450  97.7650  92.2900    240,525 MAR 12 96.8600  96.9250  96.8050  96.8150  -.0500  97.7500  92.5200    185,749 JUN 12 96.6450  96.7000  96.5700  96.5850  -.0550  97.7250  92.6350    161,267 SEP 12 96.4650  96.5050  96.3700  96.3850  -.0650  97.6850  92.6250     93,521 DEC 12 96.2800  96.3150  96.1750  96.1900  -.0700  97.6300  92.6000     58,234 MAR 13 96.1550  96.1750  96.0400  96.0550  -.0700  97.6150  92.5650     53,543 JUN 13 96.0200  96.0350  95.9050  95.9200  -.0700  97.5700  92.5450     46,032 SEP 13 95.8850  95.9050  95.7750  95.7900  -.0700  97.5000  92.6250     52,619 DEC 13 95.7450  95.7600  95.6350  95.6500  -.0750  97.4100  92.6900     31,401 MAR 14 95.6550  95.6650  95.5400  95.5550  -.0800  97.4400  92.7800     28,618 JUN 14 95.5550  95.5650  95.4400  95.4500  -.0850  97.3450  93.1250     28,245 SEP 14 95.4500  95.4750  95.3400  95.3550  -.0850  97.2900  93.5600     16,203 DEC 14 95.3350  95.3350  95.2400  95.2500  -.0850  97.2050  93.6450      6,987 MAR 15 95.2300  95.2650  95.1900  95.1950  -.0850  97.1800  93.6550      7,599 JUN 15 95.1900  95.1900  95.1150  95.1250  -.0800  97.1500  93.6400      5,597 SEP 15 95.1250  95.1250  95.0500  95.0600  -.0800  97.1200  93.6200      5,381 DEC 15 95.0100  95.0550  94.9600  94.9700  -.0800  97.0650  93.5900      8,496 MAR 16 94.9950  94.9950  94.9200  94.9300  -.0800  97.1300  93.5700      8,767 JUN 16 94.9450  94.9450  94.8700  94.8850  -.0750  97.0600  93.5450      2,471 SEP 16 94.9000  94.9000  94.8250  94.8450  -.0700  97.0500  93.5250      1,897 DEC 16 94.8450  94.8550  94.7550  94.7750  -.0700  97.0150  93.4950     11,131 MAR 17 94.7850  94.7850  94.7300  94.7500  -.0700  97.0300  93.4800      3,099 JUN 17 94.7500  94.7500  94.6950  94.7150  -.0700  97.0300  93.5800      1,398 SEP 17 94.7250  94.7250  94.6700  94.6900  -.0700  97.0350  93.6050        821 DEC 17 94.7050  94.7150  94.6150  94.6350  -.0700  97.0300  93.5650      1,529 MAR 18 94.6600  94.6600  94.6100  94.6300  -.0700  97.0450  93.8650      1,647 JUN 18 94.6350  94.6350  94.5850  94.6050  -.0700  97.0450  93.8450        275 SEP 18 94.6150  94.6150  94.5650  94.5850  -.0700  97.0500  93.8350        395 DEC 18 94.6300  94.6300  94.5250  94.5450  -.0700  97.0450  93.9800        762 MAR 19 94.5800  94.5800  94.5300  94.5500  -.0700  96.1800  93.9900        419 JUN 19 94.5650  94.5650  94.5150  94.5350  -.0700  95.1150  93.9800        189 SEP 19 94.5400  94.5400  94.5000  94.5200  -.0700  95.1000  94.4300        599 Est vol 1,892,201 vol Mon 1,742,452 open int 7,210,372 -675 Euroyen (CME) DEC 09  99.490   99.490   99.490   99.490     ...   99.545   98.350      2,221 Est vol 375 vol Mon  open int 3,135 unch
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(END) Dow Jones Newswires
November 03, 2009 17:27 ET (22:27 GMT)

DJMN: G7 Political, Economic Calendar - Week Ahead -2-
2350  JPN  Oct     Intl Reserves / Foreign Currency                      Foreign Reserves (US dollars)              1.05T Monday, November 9, 2009                              Exp        Prev GMT 0700  GER  Sep     Foreign Trade 0930  UK   Oct     BoE narrow money 1100  GER  Sep     Industrial Production Index 1100  FRA  Sep     OECD Standardized Unemployment Rates 1315  CAN  Oct     Housing Starts 1500  US   Oct     Conference Board Employment Trends Index                      US Employment Trends Index                      (ETI)                                      88.5                      US Employment Trends Index                      (ETI) MoM Change                           +0.3% 2350  JPN  Sep     Balance of Payments                      Current Account Balance (value                      in yen)                                    1.17T 2350  JPN  Oct     International Transactions in Securities 2350  JPN  Oct     Provisional Trade Statistics for 1st 20 days of Month 2350  JPN  Oct     Money Stock, Broadly-defined Liquidity                      M2 (Money Stock)                           +3% 2350  JPN  Oct     Bank Lending                      Bank Lending (on year)                     +1.7% Tuesday, November 10, 2009                            Exp        Prev GMT 0001  UK   Oct     RICS UK Housing Market Survey 0001  UK   Oct     BRC-KPMG Retail Sales Monitor 0430  JPN  Oct     Corporate Insolvencies                      On Year                                    -15.7% 0500  JPN  Oct     Economy Watchers Survey 0500  UK   Oct     European Monster Employment Index 0600  JPN  Oct     Preliminary Machine Tool Orders                      On Year                                    -61.9% 0700  GER  Oct     CPI 0700  GER  Sep     Manufacturing turnover 0745  FRA  Sep     Industrial production index 0750  FRA  Oct     Industrial investment survey 0900  ITA  Sep     Industrial Production 0930  UK   Sep     DCLG House Price Index 0930  UK   Sep     Trade 1000  GER  Nov     ZEW Indicator of Economic Sentiment 1230  US   Oct     NFIB Small Business Optimism Index                      Small Business Optimism Index              88.8 1245  US   Nov 7   ICSC/Goldman Sachs Chain Store Sales                      Chain Store Sales Index - WoW              +0.1%                      Chain Store Sales Index - YoY              +1.9% 1355  US   Nov 7   Redbook Index                      MoM % Change                               +1.9%                      12MonChgPct                                +0.7%                      52WkChgPct                                 +0.9% 1415  US           Atlanta Fed Pres Lockhart speaks on ' Emerging Trends In                   Real Estate'  in Atlanta 1500  US           San Francisco Fed Pres Yellen speaks on residential and                   commercial real estate in Phoenix 2130  US   Nov 6   API Oil Industry Report                      Crude Stocks (Net Change)                  -3.28M                      Gasoline Stocks (Net Change)               +501K                      Distillate Stocks (Net Change)             +1.79M                      Refinery Runs                              80.5% 2200  US   Nov 8   ABC/Washington Post Consumer Confidence Index                      ABC News Consumer Confidence                      Index                                      -49 2350  JPN  Sep     Orders Received for Machinery                      Core Machinery Orders (on                      month)                                     +0.5% N/A   EU           EU finance ministers at ECOFIN meeting N/A   JPN          Auction of 40-yr Government treasury bonds worth Y300B
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(END) Dow Jones Newswires
November 03, 2009 17:26 ET (22:26 GMT)

DJMN: G7 Political, Economic Calendar - Week Ahead
All dates are in GMT. Tuesday, November 3, 2009                             Exp        Prev GMT 2315  JPN  Oct     Svcs PMI 2350  JPN  Oct     Monetary base Wednesday, November 4, 2009                           Exp        Prev GMT 0001  UK   Oct     Shop Price Index 0001  UK   Oct     Nationwide Consumer Confidence Index 0001  UK   Oct     REC & KPMG Report on Jobs 0845  ITA  Oct     Svcs PMI                      PMI Services                    49.1       48.5 0850  FRA  Oct     Svcs PMI                      PMI Services                    57.8       53.2 0855  GER  Oct     Svcs PMI                      PMI Services                    50.9   &