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Command of the Week

25th September 2018 – DRAM<GO>

Wondering what went wrong with the Indian Market on 21st September, which recorded the wildest ever move. This was led my selloff in NBFCs and Banks, especially the default by Infrastructure Leasing & Financial Services Ltd. which shocked credit markets, pushing up bond yields and spurring a selloff in banks that rely on money-market funding.

Use the Bloomberg Credit Monitor, Debt Distribution and Capital Structure tools to understand why IL&FS is having such an impact on the Indian Market. IL&FS started missing payments in late August amid surging short-term interest rates and cost overruns on projects due to delays in land acquisition and approvals. Its repayment troubles have in turn pushed up corporate borrowing costs, with the average yield on one-year BBB corporate notes topping 12 percent for the first time since 2014.

To gauge default risk:
Type “default risk monitor” in the command line and select Bloomberg Credit Monitor from autocomplete. The shortcut is DRAM.


Leave the Source amber box at All Issuers, Sector at All and Ref Date at 30 Days Ago. Click the Market Cap amber box and select. Set the Region amber box to Asia and Country to
India. Under Default Risk, right click the Chg header and choose Sort Ascending.

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