TCRAP_Public/190521.mbx        T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

          Tuesday, May 21, 2019, Vol. 22, No. 101

                           Headlines



A U S T R A L I A

146 BELL: First Creditors' Meeting Set for May 28
BLUE SKY: Placed Into Receivership After Covenant Breach
CENTENNIAL MINING: AuStar Gold Halts Takeover Plans
FIRST CLASS: First Creditors' Meeting Set for May 29
GRAYMORE COURIERS: Second Creditors' Meeting Set for May 23

MODULAR BUILDING: Second Creditors' Meeting Set for May 24
OPORTO SURFERS: Second Creditors' Meeting Set for May 23
PLEASURE GARDEN: First Creditors' Meeting Set for May 28
TIGER ENERGY: Second Creditors' Meeting Set for May 23
TRAN SOLICITORS: First Creditors' Meeting Set for May 28

WYNNUM CAR: First Creditors' Meeting Set for May 29


C H I N A

KANGMEI PHARMACEUTICAL: Guangdong Auditor Starts Losing Clients
SEAZEN HOLDINGS: Fitch Rates $300MM Sr. Notes Final 'BB'


I N D I A

AASHIRWAD INDUSTRIES: CRISIL Moves D Rating to Not Cooperating
ALP NON-WOVEN: CARE Maintains 'D' Rating in Not Cooperating
ANIL PRINTERS: Insolvency Resolution Process Case Summary
ARUL INDUSTRIES: CRISIL Lowers Rating on INR7cr Loan to D
BALAJI LOOMTEX: CRISIL Migrates B+ Rating to Not Cooperating

BHARGAB ENGINEERING: CRISIL Reaffirms B+ Rating on INR10cr Loan
CENTENARY ARCADES: CRISIL Migrates D Rating to Not Cooperating
CHITIZ DAIRY: CRISIL Reaffirms B Rating on INR7.5cr Term Loan
CITY PRIDE: CRISIL Migrates B- Rating to Not Cooperating
CORROSION PROTECTION: Ind-Ra Moves 'BB-' Rating to Non-Cooperating

FOREST PRESS: CRISIL Assigns D Rating to INR13cr Term Loan
GURUDEVA CHARITABLE: CRISIL Hikes Rating on INR10.5cr Loan to B
IL&FS: Orix Corp Seeks to Buy Remaining Stake in Wind Assets
KRISHNA ENTERPRISES: CRISIL Moves B+ Rating from Not Cooperating
MANJEERA CONSTRUCTIONS: CRISIL Migrates INR12cr Loan Rating to B-

METALORE OVERSEAS: Insolvency Resolution Process Case Summary
MUGHAL FOUNDATION: CRISIL Migrates D Rating to Not Cooperating
N. PRAKASH: CRISIL Migrates B+ Rating from Not Cooperating
PAWAN CASTINGS: Ind-Ra Migrates 'BB' LT Rating to Non-Cooperating
PROTAC FOODS: CRISIL Migrates D Rating to Not Cooperating

SHARAN HOSPITALITY: Insolvency Resolution Process Case Summary
SHIV SHAKTI: CRISIL Assigns B+ Rating to INR10cr Cash Credit
SIDDHARTH MILK: Insolvency Resolution Process Case Summary
TAGORE EDUCATIONAL: CRISIL Cuts Rating on INR40.7cr Loan to D
UNITED CHLORO: Ind-Ra Migrates D Issuer Rating to Non-Cooperating



I N D O N E S I A

ABM INVESTAMA: Fitch Cuts LT IDR to B+, Outlook Negative


X X X X X X X X

[*] BOND PRICING: For the Week May 13, 2019 to May 17, 2019

                           - - - - -


=================
A U S T R A L I A
=================

146 BELL: First Creditors' Meeting Set for May 28
-------------------------------------------------
A first meeting of the creditors in the proceedings of 146 Bell St
Pty Ltd will be held on May 28, 2019, at 11:00 a.m. at the offices
of Courtney Jones & Associates Insolvency & Forensic Accountants,
at Level 1, Suite 5, 443 Little Collins Street, in Melbourne,
Victoria.

Mathew Gollant of Courtney Jones & Associates was appointed as
administrator of 146 Bell on May 17, 2019.

BLUE SKY: Placed Into Receivership After Covenant Breach
--------------------------------------------------------
Stephanie Palmer-Derrien at SmartCompany reports that Blue Sky has
been placed into receivership, and voluntary administrators have
been appointed, after it breached the covenant of a AUD50 million
loan facility from Oaktree Capital Management.

According to SmartCompany, Oaktree has enforced its rights under
the loan facility and appointed Mark Korda and Jarrod Villani of
KordaMentha as receivers and managers of Blue Sky.

Bradley Hellen and Nigel Markey of Pilot Partners have also been
appointed as voluntary administrators, the report says.

With AUD2.8 billion in assets under management, Blue Sky manages
real assets and private real estate, alongside its private equity
arm, which makes growth capital and venture capital investments.

The news follows Blue Sky's breach of the Oaktree loan facility,
announced earlier last month, according to SmartCompany.

SmartCompany relates that a statement from KordaMentha said it
follows a period of "significant instability" including the
possibility of class actions, turnover of senior executives, and
departure of limited partners.

"There is considerable work to be done in the near future," the
release said.

"This appointment is necessary if Blue Sky is to maintain its
investment teams, key clients, and stabilise the operations and
capital structure of the business," the statement added.

In the statement, KordaMentha partner Mark Korda said the initial
objective is to "stabilise the business as a strategic assessment
is undertaken".

Day-to-day operations will not be affected, he said, SmartCompany
relays.

"It will also allow greater flexibility for the restructure of Blue
Sky and seek to ensure the future of the business," Korda added.

In April last year, Australian VC Elaine Stead stepped down as a
board member at Blue Sky, following an attack from US short-selling
firm Glaucus.

The previous month, Glaucus had published a report suggesting Blue
Sky's investments were valued at AUD1.5 million, significantly less
than the AUD4 million the company valued them at, SmartCompany
recalls.

According to SmartCompany, ASX-listed Blue Sky commissioned an
independent review of its business processes, but since then its
share price has tumbled, from an all-time high of AUD14.99 to
AUD0.18 at last close.

One of Blue Sky's high-profile investments was customised fashion
startup Shoes of Prey, which collapsed into liquidation in March
this year, SmartCompany says. At the time, investors in the
business were tipped to lose AUD35 million.

Blue Sky Alternative Investments Limited --
https://blueskyfunds.com.au/ -- is a private equity and venture
capital firm specializing in growth capital and late stage
investments. The firm also invests in private real estate,
infrastructure, hedge funds, and water asset classes. For growth
capital the firm invests in range of sectors including food,
healthcare and education. For venture capital the firm invests in
sectors including software, healthcare, food, retail and education.
The firm seeks to invest in Australia.

CENTENNIAL MINING: AuStar Gold Halts Takeover Plans
---------------------------------------------------
miningweekly.com reports that junior AuStar Gold has paused its
takeover plans for embattled Centennial Mining, following
discussions with that company's administrators.

According to miningweekly.com, AuStar in May revealed its
intentions to make a takeover offer for Centennial, which holds the
A1 gold mine, after Centennial's administrators revealed that they
had received a number of unsolicited approaches from existing
creditors.

AuStar owns the Rose of Denmark and Morning Star mines as well as
having exploration assets around Centennial's A1 mine, and has
previously spouted the virtues of consolidation in the region.

However, the junior miner on May 17 said that after conducting due
diligence investigations, the board of AuStar had determined, based
on the current available information, not to submit a deed of
company arrangement to Centennial's creditors prior to the creditor
meeting, which was scheduled for May 17.

Richard Tucker, John Bumbak and Leanne Chesser of KordaMentha Perth
were appointed as administrators of Centennial Mining on March 21,
2019.

FIRST CLASS: First Creditors' Meeting Set for May 29
----------------------------------------------------
A first meeting of the creditors in the proceedings of First Class
Heating & Cooling Pty Ltd will be held on May 29, 2019, at 11:00
a.m. at 165 Camberwell Road, in Hawthorn East.

Nicholas Giasoumi and Shane Leslie Deane of Dye & Co. Pty Ltd were
appointed as administrators of First Class on May 20, 2019.

GRAYMORE COURIERS: Second Creditors' Meeting Set for May 23
-----------------------------------------------------------
A second meeting of creditors in the proceedings of Graymore
Couriers Pty. Ltd has been set for May 23, 2019, at 11:00 a.m. at
the offices of The Tingalpa Hotel, at 1563 Wynnum Road, in
Tingalpa, Queensland.

The purpose of the meeting is (1) to receive the report by the
Administrator about the business, property, affairs and financial
circumstances of the Company; and (2) for the creditors of the
Company to resolve whether the Company will execute a deed of
company arrangement, the administration should end, or the Company
be wound up.

Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by May 22, 2019, at 4:00 p.m.

Geoffrey Robert Davis of BCR Advisory was appointed as
administrator of Graymore Couriers on April 8, 2019.

MODULAR BUILDING: Second Creditors' Meeting Set for May 24
----------------------------------------------------------
A second meeting of creditors in the proceedings of Modular
Building Systems (Australia) Pty Ltd and Modular Construction
Consultants (Australia) Pty Ltd, trading as SIP Smart Australia,
has been set for May 24, 2019, at 11:00 a.m. at the offices of
Avior Consulting, at Level 1, 1160 Hay Street, in West Perth, WA.

The purpose of the meeting is (1) to receive the report by the
Administrator about the business, property, affairs and financial
circumstances of the Company; and (2) for the creditors of the
Company to resolve whether the Company will execute a deed of
company arrangement, the administration should end, or the Company
be wound up.

Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by May 23, 2019, at 5:00 p.m.

Dermott Joseph McVeigh of Avior Consulting was appointed as
administrator of Modular Building on April 9, 2019.

OPORTO SURFERS: Second Creditors' Meeting Set for May 23
--------------------------------------------------------
A second meeting of creditors in the proceedings of Oporto Surfers
Paradise Pty Ltd has been set for May 23, 2019, at 10:30 a.m. at
the offices of MaC Insolvency, at Level 7, 91 Phillip St,
Parramatta NSW 2150 and Regus, Ground Floor, 50 Cavill Avenue, in
Surfers Paradise, Queensland.

The purpose of the meeting is (1) to receive the report by the
Administrator about the business, property, affairs and financial
circumstances of the Company; and (2) for the creditors of the
Company to resolve whether the Company will execute a deed of
company arrangement, the administration should end, or the Company
be wound up.

Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by May 22, 2019, at 4:00 p.m.

Trent McMillen of MaC Insolvency was appointed as administrator of
Oporto Surfers on April 30, 2019.

PLEASURE GARDEN: First Creditors' Meeting Set for May 28
--------------------------------------------------------
A first meeting of the creditors in the proceedings of Pleasure
Garden Touring Pty Ltd ATF The Pleasure Garden Touring Unit Trust
will be held on May 28, 2019, at 10:30 a.m. at Level 1, 5 Everage
Street, in Moonee Ponds, Victoria.

Altan Djenab of Wild Apricot was appointed as administrator of
Pleasure Garden on May 16, 2019.

TIGER ENERGY: Second Creditors' Meeting Set for May 23
------------------------------------------------------
A second meeting of creditors in the proceedings of Tiger Energy
Limited has been set for May 23, 2019, at 10:00 a.m. at the offices
of Jones Partners Insolvency & Business Recovery, at Level 13, 189
Kent Street, in Sydney, NSW.

The purpose of the meeting is (1) to receive the report by the
Administrator about the business, property, affairs and financial
circumstances of the Company; and (2) for the creditors of the
Company to resolve whether the Company will execute a deed of
company arrangement, the administration should end, or the Company
be wound up.

Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by May 22, 2019, at 4:00 p.m.

Michael Gregory Jones & Alan Godfrey Topp of Jones Partners were
appointed as administrators of Tiger Energy on April 8, 2019.

TRAN SOLICITORS: First Creditors' Meeting Set for May 28
--------------------------------------------------------
A first meeting of the creditors in the proceedings of Tran
Solicitors & Attorneys Pty. Ltd. will be held on May 28, 2019, at
11:00 a.m. at the offices of Mackay Goodwin, at Level 2, 10 Bridge
Street, in Sydney, NSW.  

Grahame Ward of Mackay Goodwin was appointed as administrator of
Tran Solicitors on May 16, 2019.

WYNNUM CAR: First Creditors' Meeting Set for May 29
---------------------------------------------------
A first meeting of the creditors in the proceedings of Wynnum Car
Electrics Pty Ltd will be held on May 29, 2019, at 10:00 a.m. at
Level 4, 26 Wharf Street, in Brisbane, Queensland.

Travis Pullen of B&T Advisory was appointed as administrator of
Wynnum Car on May 17, 2019.



=========
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KANGMEI PHARMACEUTICAL: Guangdong Auditor Starts Losing Clients
---------------------------------------------------------------
Wang Juanjuan and Han Wei at Caixin Global report that a leading
accounting firm in Guangdong was rattled by a crisis of confidence
following a regulatory probe of its business related to allegations
of financial fabrication by one of its major clients.

According to Caixin, GP Certified Public Accountants Co. Ltd. lost
two customers this week as the companies' shareholders voted at
annual meetings to terminate contracts with GP Certified,
reflecting concerns over the accounting firm's role in a
high-profile disclosure scandal. GP Certified is the largest
auditing company in Guangdong and was 22nd biggest in China in
2017.

Caixin relates that the firm's long-time client, Shanghai-listed
traditional Chinese medicine supplier Kangmei Pharmaceutical Co.
Ltd., was targeted by regulators on suspicion of fabricating a
financial report involving a CNY29.9 billion ($4.4 billion)
overstatement of cash on hand. As the auditor of Kangmei, GP
Certified was put under investigation by the China Securities
Regulatory Commission (CSRC), Caixin learned from a source close to
the company.

GP Certified is likely to face the loss of more business as more
than 40 of its clients have yet to hold their annual shareholder
meetings to decide on accounting partners. Market information
provider WindInfo showed that GP Certified was the auditor of 92
listed companies in 2018, according to Caixin.

If authorities find that GP Certified acted unscrupulously in
Kangmei's case, it could face a fine amounting to three to four
times the amount determined to be illegal gains. The company may
also face a suspension of its business license, a Guangdong
investment banker said, Caixin relates.

Caixin says Shanghai-listed paper products producer C&S Paper Co.
decided May 14 to terminate its business with GP Certified after a
shareholders meeting. The next day, Zhongshan Public Water Supply
Co. made the same decision.

More of GP Certified's clients are expected to terminate their
contracts, the Guangdong investment banker said. GP Certified
"won't appear on brokers' recommendation lists (for listed
companies to partner with) for a while," the banker said.

Meanwhile, 20 companies that have hired GP Certified as auditor to
assist in initial public offering applications may face risks of
review suspension because of the GP Certified probe, this person
said, Caixin reports.

Kangmei's massive corrections to its financial report for 2017,
including the CNY29.9 billion overstatement in the company's cash
holdings, set a record, according to a Caixin calculation. Kangmei,
whose stock is a component of MSCI Inc.'s global indexes, has been
under investigation by the CSRC since late December for allegedly
violating information disclosure regulations, Caixin notes.

Caixin notes that GP Certified has been Kangmei's auditor since it
went public in 2001. Kangmei paid the accounting firm CNY37 million
for services over the past decade, higher than the average paid by
listed companies in the country. In 2017, GP Certified reported
revenue of CNY492 million.

Kangmei Pharmaceutical Co., Ltd. produces and sells Chinese
medicines in China. It also offers chemical medicines and food
products; and operates hospitals and Chinese medicine pharmacies.

SEAZEN HOLDINGS: Fitch Rates $300MM Sr. Notes Final 'BB'
--------------------------------------------------------
Fitch Ratings has assigned Seazen Holdings Co., Ltd.'s (BB/Stable)
USD300 million 6.5% senior notes due 2022 a final rating of 'BB'.
The notes are issued by Seazen's indirect wholly owned subsidiary,
New Metro Global Limited.

The notes are unconditionally and irrevocably guaranteed by Seazen
and rated at the same level as Seazen's senior unsecured rating
because they constitute its direct and senior unsecured
obligations. The final rating is in line with the expected rating
assigned on May 15, 2019, and follows the receipt of documents
conforming to information already received.

Seazen is a subsidiary of Future Land Development Holdings Limited
(FLDH, BB/Stable). Fitch uses a consolidated approach to rate
Seazen, based on our Parent and Subsidiary Rating Linkage criteria.
The strong strategic and operational ties between the two entities
are reflected by Seazen representing FLDH's entire exposure to the
China homebuilding business.

KEY RATING DRIVERS

Focus on Yangtze River Delta: The FLDH group's strategy to focus
resources on the Yangtze River Delta has helped drive scale
expansion and strong sales turnover, measured by consolidated
contracted sales/gross debt. The region made up more than half of
FLDH's total contracted sales during the past few years, including
its contribution of around 61% in 2018, during which contracted
sales rose by 75% to CNY221 billion. FLDH's sales turnover was
little changed at 1.7x in 2018 from 1.9x in 2017 and has averaged
1.7x annually since 2014, demonstrating the group's successful
execution of its fast-churn strategy. FLDH aims to achieve CNY270
billion in total contracted sales in 2019.

Stable Leverage, Uncertainty Remains: FLDH's leverage, including
proportionate consolidation of joint ventures (JV) and associates,
was 44% at end-2018, compared with 50% at end-1H18, 40% at end-2017
and 45% at end-2016. FLDH's leverage tended to increase during the
middle of the year due to land acquisition activities but has
remained within a reasonable range and below 45% on average during
its expansion.

Fitch thinks that FLDH's continued land replenishment, large
investment property capex and the high proportion of JV operations
will increase uncertainty over leverage. FLDH spent CNY76 billion
on attributable land acquisitions in 2018, including the
investments by FLDH and Seazen. This accounted for more than half
of its attributable sales proceeds, and the group expects to
continue to spend about 60% of its sales proceeds (CNY80 billion-90
billion) on land premiums in 2019. FLDH also plans to spend CNY22
billion-25 billion a year on expanding its mixed-use complexes,
which are included in its investment-property business.

Minority Shareholders Provide Financing: The total non-controlling
interests in FLDH's balance sheet increased by CNY13 billion to
CNY26 billion by end-2018. The minority shareholders in the
company's projects contributed CNY9 billion of the increase, which
meant that FLDH did not have to take on more debt to develop the
projects. The total non-controlling interests exceeded equity
attributable to shareholders of CNY19 billion at end-2018. However,
FLDH may seek higher shares in its projects to increase profit
attributable to shareholders, which could result in lower
contribution from minority shareholders in new projects that would
drive up FLDH's leverage.

Diversified, Sufficient Land Bank: The group had an attributable
land bank of 53.3 million sqm, or 49% of the total land bank, at
end-2018. The attributable interest is higher at around 67%,
according to management, after including project investment from
Seazen. Fitch thinks the land bank is sufficient for three to five
years of development. The group will continue to focus on the
Yangtze River Delta but has been increasing its land bank outside
the region to provide a buffer in case of regional market
uncertainties. The Yangtze River Delta accounted for 50.1% of
FLDH's total land bank by gross floor area at end-2018.

Margin Expansion: Fitch expects the group's EBITDA margin to stay
at around 25% in the next two years. FLDH's EBITDA margin, without
adding back capitalized interest to avoid distortion from
accounting policy changes, improved to 26.4% in 2018 from 24.1% in
2017. The margin expansion was mainly helped by the higher
contribution from its rental-generating shopping-mall business as
FLDH's property-development gross profit margin remained flat at
34% in 2018. Rental and property-management fees rose to 8% of
FLDH's total gross profit in 2018 from 5% in 2017 and generated a
68% gross profit margin.

Recurring Income to Support Rating: Fitch estimates the group's
recurring EBITDA will continue to increase rapidly to provide
strong support to its interest servicing in 2019. FLDH doubled its
rental and property-management fee income to CNY2 billion in 2018
from the operation of shopping malls (branded Wuyue Plaza), which
are mainly located in second- and third-tier cities. Recurring
EBITDA/interest expense paid increased to 0.4x in 2018 from 0.2x in
2017. Fitch expects FLDH to generate around CNY4 billion in rental
and management fees in 2019, and recurring EBITDA/interest expense
to rise to above 0.4x after 2019.

DERIVATION SUMMARY

Fitch uses a consolidated approach to rate FLDH and Seazen, based
on our Parent and Subsidiary Rating Linkage criteria, as Seazen was
67.5%-owned by FLDH at end-2018. Their strong strategic and
operational ties are reflected by Seazen representing FLDH's entire
exposure to the China homebuilding business, while FLDH raises
offshore capital to fund the group's business expansion. The two
entities share the same chairman.

FLDH's quick sales churn strategy contributed to the rapid
expansion of its contracted sales to a level higher than most 'BB'
category peers. FLDH's attributable sales reached CNY143 billion in
2018, larger than that of Sino-Ocean Group Holding Limited
(BBB-/Stable, standalone credit profile: bb+), CIFI Holdings
(Group) Co. Ltd. (BB/Stable), and almost double the size of China
Aoyuan Group Limited (BB-/Positive), KWG Group Holdings Limited
(BB-/Stable), and Logan Property Holdings Company Limited
(BB-/Positive). FLDH has also quickly expanded its investment
properties, which generated CNY2 billion of recurring income and a
recurring EBITDA/interest of 0.4x in 2018. FLDH's
investment-property portfolio of around CNY40 billion is much
larger than all the other 'BB' rated peers, and this contributed to
its leverage increase, resulting in higher leverage than its peers
in 2018.

FLDH's leverage, defined by net debt/adjusted inventory (after
JV/associate proportionate consolidation), of around 45% is in line
with some 'BB' rated peers, such as CIFI, but higher than
Sino-Ocean Group's leverage of around 35%. FLDH's leverage
increased in 2017-2018 due to continued land replenishment and
large capex to develop its investment-property portfolio. FLDH's
recurring EBITDA/interest of 0.4x was similar to Sino-Ocean Group's
level in 2018. However, Sino-Ocean Group has a stronger and longer
track record in investment-property operations than FLDH. This
supports Sino-Ocean Group's standalone credit profile, which is one
notch above FLDH's rating.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within Our Rating Case for the Issuer

- Total contracted sales to reach CNY270 billion and CNY300
billion in 2019 and 2020 with around 70% attributable interests

- Land premium to represent around 60% of attributable sales
proceeds in 2019 and 50% in 2020-2022

- CNY22 billion-25 billion in investment property capex in
2019-2022

- Overall EBITDA margins to remain above 25%

- FLDH maintains a controlling shareholding in Seazen and the
operational ties between FLDH and Seazen do not weaken

RATING SENSITIVITIES

FLDH:

Developments That May, Individually or Collectively, Lead to
Positive Rating Action

- Net debt/adjusted inventory (after JV proportionate
consolidation) sustained below 40%

- Recurring EBITDA/interest paid sustained above 0.4x

Developments That May, Individually or Collectively, Lead to
Negative Rating Action

- Consolidated contracted sales/total debt below 1.5x for a
sustained period

- Net debt/adjusted inventory (after JV proportionate
consolidation) above 50% for a sustained period

- EBITDA margin below 18% for a sustained period

- Weakening linkage between FLDH and Seazen
(All the ratios mentioned above are based on parent FLDH's
consolidated financial data)

Seazen:

Developments That May, Individually or Collectively, Lead to
Positive Rating Action

- Net debt/adjusted inventory (after JV proportionate
consolidation) sustained below 40%

- Recurring EBITDA/interest paid sustained above 0.4x

Developments That May, Individually or Collectively, Lead to
Negative Rating Action

- Consolidated contracted sales/total debt below 1.5x for a
sustained period

- Net debt/adjusted inventory (after JV proportionate
consolidation) above 50% for a sustained period

- EBITDA margin below 18% for a sustained period
(All the ratios mentioned above are based on parent FLDH's
consolidated financial data)

LIQUIDITY

Sufficient Liquidity: The group doubled its unrestricted cash
balance to CNY41 billion by end-2018, which is sufficient to cover
its short-term borrowings of CNY27 billion. The group repaid its
HKD2.3 billion convertible bond in early 2019.



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AASHIRWAD INDUSTRIES: CRISIL Moves D Rating to Not Cooperating
--------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Aashirwad
Industries Private Limited (AIPL) to 'CRISIL D Issuer not
cooperating'.

                     Amount
   Facilities      (INR Crore)     Ratings
   ----------      -----------     -------
   Cash Credit           10        CRISIL D (ISSUER NOT
                                   COOPERATING; Rating Migrated)

   Proposed Long Term
   Bank Loan Facility     2        CRISIL D (ISSUER NOT
                                   COOPERATING; Rating Migrated)

   Term Loan              5        CRISIL D (ISSUER NOT
                                   COOPERATING; Rating Migrated)

CRISIL has been consistently following up with AIPL for obtaining
information through letters and emails dated February 28, 2019 and
March 18, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed with
the suffix 'ISSUER NOT COOPERATING'. These ratings lack a forward
looking component as it is arrived at without any management
interaction and is based on best available or limited or dated
information on the company.

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of AIPL. Which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on AIPL is
consistent with 'Scenario 1' outlined in the 'Framework for
Assessing Consistency of Information with CRISIL BB' rating
category or lower'.

Therefore, on account of inadequate information and lack of
management cooperation, CRISIL has migrated the rating on bank
facilities of AIPL to 'CRISIL D Issuer not cooperating'.

Incorporated in June 2012, AIPL manufactures AC roofing sheets. The
company is promoted by Mr Rahul Tupe and Ms Leena Tupe. Its unit is
in the Butibori Industrial area of Nagpur (Maharashtra), and has
installed capacity of 54,000 tonne per annum.

ALP NON-WOVEN: CARE Maintains 'D' Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Alp
Non-Woven Private Limited continues to remain in the 'Issuer Not
Cooperating' category.

                     Amount
   Facilities      (INR crore)    Ratings
   ----------      -----------    -------
   Long term Bank       6.41      CARE D; Issuer not cooperating;
   Facilities                     Based on best available
                                  information

Detailed Rationale, Key Rating Drivers

CARE had, vide its press release dated February 13, 2018 placed the
ratings of Alp Non-Woven Private Limited under the 'issuer
non-cooperating' category as ANPL had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
ANPL continues to be non-cooperative despite repeated requests for
submission of information through phone calls and emails dated
April 19, 2019, April 22, 2019, April 24, 2019, April 25, 2019 and
numerous phone calls. In line with the extant SEBI guidelines, CARE
has reviewed the rating on the basis of the best available
information which however, in CARE's opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

Detailed description of the key rating drivers

At the time of last rating on February 13, 2018, the following were
the rating weaknesses:

Key Rating Weaknesses

Delay in Debt Servicing: ANPL has been irregular in servicing its
debt obligation due to weak liquidity position of the company.

Modasa-based (Gujarat) ANPL was incorporated in 2012, by Mr
Hareshkumar Dahyabhai Patel and is currently managed by Mr
Mahendrakumar Hansarajbhai Patel and Mr Jagdish Ratilal Patel. The
company is engaged into the manufacturing of non-woven technical
fabrics with a product range from 10gsm-150 gsm, from April 2014
onwards. While the raw materials like Polypropylene (PP),
Polyethelene (PE) and Poly Vinyl Chloride (PVC) granules are
procured from the domestic market, it sells its finished products
to various states of India like Gujarat, Maharashtra, Delhi and
Tamilnadu. The fabrics manufactured by ANPL find application in the
technical textile industry for manufacturing of medical masks,
shopping bags, crop protection covers and other hygiene products.
ANPL operates from its sole manufacturing facility located in
Modasa (Gujarat) with an installed capacity of 2400 tons per annum.

ANIL PRINTERS: Insolvency Resolution Process Case Summary
---------------------------------------------------------
Debtor: M/s. Anil Printers Limited
        B-30, MIDC, Ambad, Nashik
        Maharashtra 422010

Insolvency Commencement Date: May 6, 2019

Court: National Company Law Tribunal, Mumbai Bench

Estimated date of closure of
insolvency resolution process: November 2, 2019

Insolvency professional: Shri Vishal Bidawatjika

Interim Resolution
Professional:            Shri Vishal Bidawatjika
                         307, Business Classic, 3rd Floor
                         Chincholi Bunder Road
                         Near HP Petrol Pump, Malad (West)
                         Mumbai 400064
                         Tel.: 022-28899497
                         E-mail: finvishal@yahoo.com
                                 apl.cirp@gmail.com

Last date for
submission of claims:    May 31, 2019


ARUL INDUSTRIES: CRISIL Lowers Rating on INR7cr Loan to D
---------------------------------------------------------
CRISIL has downgraded its ratings on the bank facilities of Arul
Industries (AI) to 'CRISIL D/CRISIL D' from 'CRISIL
BB-/Stable/CRISIL A4+'.

                     Amount
   Facilities      (INR Crore)     Ratings
   ----------      -----------     -------
   Cash Credit           7         CRISIL D (Downgraded from
                                   'CRISIL BB-/Stable')

   Foreign Letter
   of Credit             2         CRISIL D (Downgraded from
                                   'CRISIL BB-/Stable')

   Packing Credit        0.6       CRISIL D (Downgraded from
                                   'CRISIL A4+')

   Proposed Long Term
   Bank Loan Facility    2.4       CRISIL D (Downgraded from
                                   'CRISIL BB-/Stable')

The ratings reflects delay in the servicing of debt obligations.

The ratings also reflect the promoters' extensive experience in the
industry and AI's established dealer network. This rating strength
is partially offset by the modest scale of operations in the highly
competitive household products manufacturing segment.

Key Rating Drivers & Detailed Description

Weaknesses:

* Modest scale of operations: The modest scale of operations is
reflected in revenue of INR36 crore in fiscal 2018. Modest scale of
operations constrains the pricing power with suppliers and dealers
in the highly competitive market marked by various large and
mid-size competitors.

* Working capital intensive operations: Gross current assets days
around 102 days, on account of estimated substantial receivables
and inventory of around 36 days and 62 days, respectively, in
fiscal 2018. Working capital requirement is funded partly through
credit from suppliers (payables is around 50 days in fiscal 2018).

Strength:
* Partners' extensive experience and a strong dealer network: The
business risk profile of AI benefits from extensive experience
spanning over two decades, healthy understanding of kitchenware and
utensils market, and diverse product portfolio resulting in stable
growth in revenues. Further, established dealer network across
major cities and towns of Tamil Nadu, Andhra Pradesh, Karnataka and
Kerala is likely to benefit the firm over the medium term.

Liquidity
The bank limits have been fully utilized with instances of
overdraws in the working capital facilities for over 30 days on
account of the working capital intensive nature of operations.
Further, the company is expected to generate adequate cash accruals
against no major repayment obligations in the medium term. The
current ratio stood at 0.90 times in 2018.

Established in 1992, AI is a partnership firm that manufactures
kitchenware and utensils. Its plant is located in Tirunelveli
(Tamil Nadu); the operations are managed by its managing partner,
Mr. Jeba Suresh.

BALAJI LOOMTEX: CRISIL Migrates B+ Rating to Not Cooperating
------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Balaji Loomtex
Private Limited (BLPL) to 'CRISIL B+/Stable Issuer not
cooperating'.

                     Amount
   Facilities      (INR Crore)     Ratings
   ----------      -----------     -------
   Cash Credit            3        CRISIL B+/Stable (ISSUER NOT
                                   COOPERATING; Rating Migrated)

   Proposed Cash
   Credit Limit           10.5     CRISIL B+/Stable (ISSUER NOT
                                   COOPERATING; Rating Migrated)

   Proposed Term Loan     16.5     CRISIL B+/Stable (ISSUER NOT
                                   COOPERATING; Rating Migrated)

CRISIL has been consistently following up with BLPL for obtaining
information through letters and emails dated February 28, 2019 and
March 18, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed with
the suffix 'ISSUER NOT COOPERATING'. These ratings lack a forward
looking component as it is arrived at without any management
interaction and is based on best available or limited or dated
information on the company.

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of BLPL. Which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on BLPL is
consistent with 'Scenario 1' outlined in the 'Framework for
Assessing Consistency of Information with CRISIL BB' rating
category or lower'.

Therefore, on account of inadequate information and lack of
management cooperation, CRISIL has migrated the rating on bank
facilities of BLPL to 'CRISIL B+/Stable Issuer not cooperating'.

Incorporated in February 2017 and promoted by Mr Raghunandan Sarup
Gupta, his son Mr Uttam Gupta and daughter-in-law Mrs Shallu
Bansal, BLPL is setting up a flannel and polyester fabric textile
unit in Panipat. The company is currently engaged in trading and
semi-manufacturing of home furnishing textiles such as bed sheets
and duvets.

BHARGAB ENGINEERING: CRISIL Reaffirms B+ Rating on INR10cr Loan
---------------------------------------------------------------
CRISIL has reaffirmed its ratings on the bank facilities of Bhargab
Engineering Works (BEW) at 'CRISIL B+/Stable/CRISIL A4'.

                     Amount
   Facilities      (INR Crore)     Ratings
   ----------      -----------     -------
   Cash Credit          10         CRISIL B+/Stable (Reaffirmed)


   Foreign Bill
   Discounting           2         CRISIL B+/Stable (Reaffirmed)

   Packing Credit        6         CRISIL A4 (Reaffirmed)

   Proposed Long Term
   Bank Loan Facility    1.21      CRISIL B+/Stable (Reaffirmed)

   Term Loan              .79      CRISIL B+/Stable (Reaffirmed)

The ratings continue to reflect the working capital-intensive
nature, and modest scale, of operations, and exposure to
fluctuation in raw material prices. These weaknesses are partially
offset by the extensive experience of the partners in the
tea-blending and cleaning machinery business, and established
business relationships.

Key Rating Drivers & Detailed Description

Weaknesses:

* Working capital-intensive operations: Gross current assets were
high at around 300 days as on March 31, 2019. The same is mainly
driven by high inventory to be maintained as the manufacture
process of the machines requires assembling of different parts in
several stages and seamless transition from one stage to the other.
Operations are expected to remain working capital intensive over
the medium term.

* Modest scale of operations: Revenue was modest at around INR36
crore in fiscal 2018, and is estimated at INR20 crore in fiscal
2019 on account of operational issues during the fiscal. Though the
scale of operations is expected to increase with introduction of
manufacturing of packaging machines, it should remain modest over
the medium term.

Strengths:

* Industry experience of the partners and strong business
relationships: The partners have been in the tea-blending machinery
industry since the 1970s. The firm supplies its products in the
international and domestic markets. The partners helped diversify
supplies to 20 countries, including Sri Lanka, Vietnam, Indonesia,
and China, and have built a steady relationship of 15-20 years with
most customers. Also, a healthy relationship with suppliers ensures
favourable credit terms.

Liquidity
Liquidity remains adequate. Cash accrual of INR1.25 crore should
suffice to cover debt obligation of INR12 lakh and the cash accrual
is expected to remain sufficient against retiring debt repayment
obligation. The partners have also infused funds in the form of
unsecured loans, the balance of which was around INR1.7 crore as on
March 31, 2018. Due to working capital-intensive operations, the
bank limit has been almost fully utilised in the 12 months through
March 2019. The current ratio remained moderate at 1.20 times as on
March 31, 2018.

Outlook: Stable

CRISIL believes BEW will continue to benefit from its established
customer base and the extensive industry experience of the
partners. The outlook may be revised to 'Positive' if there is
sizeable growth in revenue and improvement in profitability or in
the working capital cycle, leading to a better financial risk
profile. The outlook may be revised to 'Negative' if the financial
risk profile weakens due to a decline in revenue or profitability,
or a stretch in the working capital cycle.

BEW was formed in 1954 by the late Mr Pranatosh Kumar Sen in
Kolkata. The firm is being managed as a partnership concern by his
sons Mr Sanjib Kumar Sen and Mr Aritra Ranjan Sen. It manufactures
tea-blending and cleaning machinery at its unit in Howrah, West
Bengal.

CENTENARY ARCADES: CRISIL Migrates D Rating to Not Cooperating
--------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Centenary
Arcades Private Limited (CAPL) to 'CRISIL D Issuer not
cooperating'.

                     Amount
   Facilities      (INR Crore)     Ratings
   ----------      -----------     -------
   Lease Rental         25.55      CRISIL D (ISSUER NOT
   Discounting Loan                COOPERATING; Rating Migrated)

CRISIL has been consistently following up with CAPL for obtaining
information through letters and emails dated February 28, 2019 and
March 18, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed with
the suffix 'ISSUER NOT COOPERATING'. These ratings lack a forward
looking component as it is arrived at without any management
interaction and is based on best available or limited or dated
information on the company.

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of CAPL. Which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on CAPL is
consistent with 'Scenario 1' outlined in the 'Framework for
Assessing Consistency of Information with CRISIL BB' rating
category or lower'.

Therefore, on account of inadequate information and lack of
management cooperation, CRISIL has migrated the rating on bank
facilities of CAPL to 'CRISIL D Issuer not cooperating'.

CAPL is promoted by Mr N L Nagendra. It has commercial space in
Mysore which has been occupied by Big Bazaar since 2008; CAPL has
signed a 15-year agreement with Big Bazaar.

CHITIZ DAIRY: CRISIL Reaffirms B Rating on INR7.5cr Term Loan
-------------------------------------------------------------
CRISIL has reaffirmed its 'CRISIL B/Stable' rating on the long-term
bank facilities of Chitiz Dairy and Agro Foods Private Limited
(CDAFPL).

                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Cash Credit         .5         CRISIL B/Stable (Reaffirmed)
   Term Loan          7.5         CRISIL B/Stable (Reaffirmed)

The rating continues to reflect exposure to project
implementation-related risks and to timely stabilisation and
commensurate ramp-up in sales during the initial phase of
operations. The rating also factors in a delay in commencement of
commercial operations by 9-12 months and an expected average
financial risk profile due to ongoing debt-funded capital
expenditure (capex). These weaknesses are partially offset by the
extensive entrepreneurial experience of and funding support from
the promoters.

Key Rating Drivers & Detailed Description

Weakness:

* Exposure to project implementation and stabilisation risks, and
ramp-up of sales: Incorporated 2015, the company is setting up a
dairy project for processing milk and manufacturing milk products;
commercial operations are set to commence in the beginning of
fiscal 2020. The products are proposed to be sold under the Go Pure
brand. Timely implementation of the project along with
stabilisation of operations and commensurate ramp-up of scale will
remain critical to achieve growth in revenue and profitability, and
hence, will be a key rating driver.

* Expected average financial risk profile driven by partly
debt-funded capex: The funding mix includes term debt of INR7.50
crore and equity capital of INR4.5 crore. The company also has a
cash credit limit of INR1.3 crore sanctioned. The gearing is likely
to remain around 1.8 times. The debt protections metrics are
expected to be moderate, with interest coverage ratio at 2-2.5
times and net cash accrual to total debt ratio around 0.1 time over
the medium term. The financial risk profile is likely to remain
average over the medium term.

Strength:
* Extensive entrepreneurial experience of and funding support from
the promoters: The promoters have over two decades of experience in
the trading industry including products such as minerals and coal.
The experience would help to establish a strong network of farmers
and distributors, which could result in uninterrupted supply of
milk for the dairy business. Further, the promoters have already
brought in the margin money and have flexibility to extend
need-based financial support.

Liquidity
The cash credit limit is yet to be disbursed; this should provide
liquidity support. The promoters are likely to extend support in
the form of equity and unsecured loans to meet working capital
requirement and repayment obligation, and have demonstrated a track
record in doing this.

Outlook: Stable

CRISIL believes CDAFPL will continue to benefit from the extensive
entrepreneurial experience of its promoters. The outlook may be
revised to 'Positive' in case of timely implementation and
stabilisation of the project, leading to adequate revenue,
profitability, and cash accrual during the initial phase of
operations. The outlook may be revised to 'Negative' if there is a
delay in implementation or stabilisation of the project, leading to
low revenue and cash accrual, or the working capital cycle is
stretched, thus weakening the financial risk profile, especially
liquidity.

Incorporated in 2015, CDAFPL is establishing a dairy project for
processing of milk and manufacture of milk products. The unit is
being set up in the Bankura district of West Bengal and commercial
operations are expected to commence in fiscal 2019.

CITY PRIDE: CRISIL Migrates B- Rating to Not Cooperating
--------------------------------------------------------
CRISIL has migrated the rating on bank facilities of City Pride
Buildcon Private Limited (City Pride) to 'CRISIL B-/Stable/CRISIL
A4 Issuer not cooperating'.

                     Amount
   Facilities      (INR Crore)     Ratings
   ----------      -----------     -------
   Bank Guarantee       11.41      CRISIL A4 (ISSUER NOT
                                   COOPERATING; Rating Migrated)

   Overdraft             1.25      CRISIL A4 (ISSUER NOT
                                   COOPERATING; Rating Migrated)

   Proposed Long Term     .22      CRISIL B-/Stable (ISSUER NOT
   Bank Loan Facility              COOPERATING; Rating Migrated)

   Term Loan              .62      CRISIL B-/Stable (ISSUER NOT
                                   COOPERATING; Rating Migrated)

CRISIL has been consistently following up with City Pride for
obtaining information through letters and emails dated February 28,
2019 and March 18, 2019 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed with
the suffix 'ISSUER NOT COOPERATING'. These ratings lack a forward
looking component as it is arrived at without any management
interaction and is based on best available or limited or dated
information on the company.

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of City Pride. Which restricts
CRISIL's ability to take a forward looking view on the entity's
credit quality. CRISIL believes information available on City Pride
is consistent with 'Scenario 1' outlined in the 'Framework for
Assessing Consistency of Information with CRISIL BB' rating
category or lower'.

Therefore, on account of inadequate information and lack of
management cooperation, CRISIL has migrated the rating on bank
facilities of City Pride to 'CRISIL B-/Stable/CRISIL A4 Issuer not
cooperating'.

City Pride Buildcon Private Limited (City Pride) was incorporated
in 2007 and is based out of New Delhi. The company operates as a
civil contractor for projects such as office buildings, schools,
and hospitals. City Pride primarily undertakes projects from
government bodies and public sector companies. The company is
promoted by Mr. Satbir Sehrawat, and his son Mr. Harish Sehrawat.

CORROSION PROTECTION: Ind-Ra Moves 'BB-' Rating to Non-Cooperating
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Corrosion
Protection Private Limited's Long-Term Issuer Rating to the
non-cooperating category. The issuer did not participate in the
rating exercise despite continuous requests and follow-ups by the
agency. Therefore, investors and other users are advised to take
appropriate caution while using these ratings. The rating will now
appear as 'IND BB- (ISSUER NOT COOPERATING)' on the agency's
website.

The instrument-wise rating actions are:

-- INR80 mil. Fund-based limits migrated to non-cooperating with

     IND BB- (ISSUER NOT COOPERATING) rating; and

-- INR15 mil. Non-fund-based limits migrated to non-cooperating
     with IND A4+ (ISSUER NOT COOPERATING) rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on May
31, 2018. Ind-Ra is unable to provide an update, as the agency does
not have adequate information to review the ratings.

COMPANY PROFILE

Incorporated in 2008, Bhubaneswar, Odisha-based Corrosion
Protection is engaged in engineering, equipment manufacturing, and
project execution.

FOREST PRESS: CRISIL Assigns D Rating to INR13cr Term Loan
----------------------------------------------------------
CRISIL has assigned its 'CRISIL D/CRISIL D' ratings to the bank
facilities of Forest Press Machineries Private Limited (FPMPL).

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Proposed Long Term
   Bank Loan Facility     1.45       CRISIL D (Assigned)

   Inland/Import
   Letter of Credit        .55       CRISIL D (Assigned)

   Cash Credit            2          CRISIL D (Assigned)

   Cash Term Loan        13          CRISIL D (Assigned)

The ratings reflects instances of delay in repayment of term loan.
The delays were due to weak liquidity driven by lower accruals
against the repayment obligations. The rating also factors in the
exposure to intense competition in the industry. However, it
benefits from its promoter's extensive experience.

Key Rating Drivers & Detailed Description

Weakness

*Delays in repayment of a term loan: Payment of the term loan
instalments in the past few months were delayed on account of weak
liquidity. That's primarily on account of lower accruals, as
against the repayment obligations of about INR0.16 crore per
month.

*Exposure to intense competition in the industry: With modest scale
of operations, the company is exposed to intense competition from
other established players in the industry. Further, the company's
revenues are susceptible to export orders and forex fluctuations.

Strengths
*Extensive entrepreneurial experience of the promoters: The main
promoter, Mr Manoj Kumar Pillay, has sound understanding of the
concrete machinery industry, and has a large network of customers.

Liquidity
Liquidity is marked by delay in repayment of term loan interest and
principal from the due date of payment, during the past 6 months
ending March 2019. Modest scale of operations have resulted in
small accruals, against its repayment obligations for fiscal 2019.

FPMPL was set up in 2015 in Bangalore. The company is engaged in
manufacture of machinery required to meet the demand of concrete
and building materials industry.

GURUDEVA CHARITABLE: CRISIL Hikes Rating on INR10.5cr Loan to B
---------------------------------------------------------------
CRISIL has upgraded its rating on bank facilities of Gurudeva
Charitable Trust (GCT) to 'CRISIL B/Stable' from 'CRISIL
B-/Stable'.

                        Amount
   Facilities         (INR Crore)    Ratings
   ----------         -----------    -------
   Proposed Long Term      4.5       CRISIL B/Stable (Upgraded
   Bank Loan Facility                from 'CRISIL B-/Stable')

   Secured Overdraft
   Facility                6.0       CRISIL B/Stable (Upgraded
                                     from 'CRISIL B-/Stable')

   Term Loan              10.5       CRISIL B/Stable (Upgraded
                                     from 'CRISIL B-/Stable')

   Working Capital
   Demand Loan             6         CRISIL B/Stable (Upgraded
                                     from 'CRISIL B-/Stable')

The rating upgrade reflects the improvement in the business risk
profile of GCT which is expected to continue over medium term. Cash
accruals improved to estimated INR10 Cr for FY19 from INR7.9 Cr for
the FY18 while sustaining the operating margins. The upgrade also
factors in the support from the promoters in form of unsecured
loan.

The rating continue to reflect GCT's small scale of operations,
geographic concentration in revenue, susceptibility to risks
related to regulatory changes, and a below-average financial risk
profile because of a weak networth. These weaknesses are partially
offset by the extensive experience of the trustees in the education
industry.

Key Rating Drivers & Detailed Description

Weaknesses

* Susceptibility to risks related to regulatory changes: The
education sector is highly regulated sector and compliance with
specific operational and infrastructure norms set by regulatory
bodies, such as the Medical Council, is essential. Thus, regular
investment in the workforce and infrastructure are needed and
approvals have to be received even to set up new courses or
increase the number of seats for any course.

* Small scale of operations and geographical concentration in
revenue: The entire revenue is derived from a medical college and
hospital in Kerala and a single course, resulting in a small scale
of operations. Revenues were estimated to be INR63 crore in fiscal
2019. Furthermore, as revenue is derived from just the one college,
the trust is exposed to geographical concentration risks.

* Below-average financial risk profile: The trust has weak net
worth as on March 31, 2019 due to the losses. However, the
promoters provide need-based fund support through unsecured loans,
the balance of which is estimated to be INR22.8 crore as on March
31, 2019.

Strength
* Extensive industry experience of the trustees: The trust is
managed by a group of professionals who have extensive experience
in the industry. This has helped to establish itself as one of the
leading institutes providing medical education.

Liquidity
The liquidity of GCT is defined by cash accruals of around INR10 Cr
which is sufficient against the maturing debt obligations. The Bank
lines have been utilized at an average of 52% for last 12 months
ended Feb 2019.

Outlook: Stable

CRISIL believes GCT will continue to benefit from the extensive
industry experience of its trustees. The outlook may be revised to
'Positive' in case of sustainable increase in the scale of
operations with higher student intake, leading to significant
improvement in liquidity. The outlook may be revised to 'Negative'
if the financial risk profile, particularly liquidity, weakens,
most likely due to sizeable debt-funded capital expenditure, an
adverse impact of any regulatory change, or deterioration in cash
flow management.

GCT, based in Ernakulam, was set up in 2003 by a group of
non-resident Indians and businessmen from Kerala. It is registered
under the Indian Trust Act, 1881. The trust comprises of a medical
college and hospital, Sree Narayana Institute of Medical Sciences,
offering the MBBS course.

IL&FS: Orix Corp Seeks to Buy Remaining Stake in Wind Assets
------------------------------------------------------------
Reuters reports that India's debt-ridden Infrastructure Leasing and
Financial Services (IL&FS) said on May 19 that Japan's Orix Corp
has expressed an interest in buying out the remaining 51% stake in
IL&FS's wind energy assets.

IL&FS said Orix Corp plans to buy the stake to exercise its right
under the terms of an existing agreement that allows Orix to match
the price offered by the highest bidder for buying a stake in the
wind power plants, Reuters relates.

In April, GAIL (India) Ltd offered INR48 billion ($683.01 million)
for IL&FS's power plant portfolio, emerging as the highest bidder
for its wind assets, Reuters says.

"GAIL Ltd's offer of about 48 billion rupees for 100% of enterprise
value contemplated no haircut to the debt of the SPVs (wind power
plants), aggregating to about INR37 billion," the group added, as
cited by Reuters, in a statement.

Infrastructure Leasing & Financial Services Limited (IL&FS)
operates as an infrastructure development and finance company in
India. It focuses on the development and commercialization of
infrastructure projects, and creation of value added financial
services. The company operates in Financial Services,
Infrastructure Services, and Others segments. Its Financial
Services segment engages in the commercialization of
infrastructure; investment banking, including corporate finance,
advisory, capital market, and other financial services; and
securities trading, venture capital, and trusteeship operations.

As reported in the Troubled Company Reporter-Asia Pacific on Oct.
3, 2018, the Indian Express said that the government on Oct. 1
stepped in to take control of crisis-ridden IL&FS by moving the
National Company Law Tribunal (NCLT) to supersede and reconstitute
the board of the firm which has defaulted on a series of its debt
payments over the last one month. This was said to be an attempt to
restore the confidence of financial markets in the credibility and
solvency of the infrastructure financing and development group.

KRISHNA ENTERPRISES: CRISIL Moves B+ Rating from Not Cooperating
----------------------------------------------------------------
Due to inadequate information CRISIL, in line with Securities and
Exchange Board of India guidelines, CRISIL had migrated its rating
on the long-term bank facilities of Krishna Enterprises - Amravati
(KE) to 'CRISIL B+/Stable; Issuer not cooperating'. KE has
subsequently provided the necessary information and CRISIL has
migrated the rating to 'CRISIL B+/Stable' from 'CRISIL B+/Stable
Issuer Not Cooperating'.

                     Amount
   Facilities      (INR Crore)     Ratings
   ----------      -----------     -------
   Cash Credit            4        CRISIL B+/Stable (Migrated
                                   from 'CRISIL B+/Stable ISSUER
                                   NOT COOPERATING')

   Proposed Cash
   Credit Limit           2.25     CRISIL B+/Stable (Migrated
                                   from 'CRISIL B+/Stable ISSUER
                                   NOT COOPERATING')

   Proposed Term Loan      .75     CRISIL B+/Stable (Migrated
                                   from 'CRISIL B+/Stable ISSUER
                                   NOT COOPERATING')

The rating continues to reflect the firm's below average financial
risk profile and large working capital requirement. These
weaknesses are partly offset by the extensive experience of the
partners in the trading business, established relationships with
principal suppliers, and low exposure to inventory risk.

Key Rating Drivers & Detailed Description

Weaknesses:

* Below average financial risk profile: Modest networth and
moderate gearing (INR2.6 crore and 2.4 times, respectively) as on
March 31, 2018 along with subdued interest coverage ratio of 1.4
times for fiscal 2018 represents below average financial risk
profile. The gearing is estimated at 2.65 times as on March 31,
2019 while interest coverage is estimated at 1.61 times for fiscal
2019.

* Large working capital requirement: Gross current assets were at
147 days as on March 31, 2018, driven by receivables of 78 days and
inventory of 62 days. The large receivables emanates from the
credit of 60-120 days offered to dealers and high year-end sales.

Strengths:
* Extensive industry experience of the partners: The partners have
experience of over 2 decades in the distribution of various
products. This has given them an understanding of the market
dynamics, and helped establish relationships with suppliers and
customers. The firm has a longstanding presence in Amravati and
nearby districts of Maharashtra.

* Established relationships with principal suppliers and low
exposure to inventory risk: The firm deals in products of various
reputed brands such as Valvoline Cummins Ltd (lubricants), Hyundai
Mobis (automotive spares), Fleetguard Filters Ltd (filters), and
Exide Industries Ltd (batteries). The partners' experience and
reputation have enabled them to add distributorships and agencies
such as Royal Enfield and Siska LED. KE will continue to benefit
from its diversified product portfolio and established
relationships with major suppliers.

Liquidity
Cash accrual is expected at INR28-39 lakh over the medium term
against debt obligation of INR22 lakh. The accrual is expected to
remain modest over the medium term. The bank limit was utilised
extensively at an average of 96% over the 12 months through
February 2019, and will continue to be extensively utilised over
the medium term due to increasing scale of operations. Current
ratio was healthy at 1.57 times as on March 31, 2018. The partners
are expected to extend unsecured loans of INR1.50 crore to fund
capex.

Outlook: Stable

CRISIL believes KE will continue to benefit from its longstanding
relationships with principal suppliers and the experience of the
management, which will help mitigate the inherent risks in the
trading business. The outlook may be revised to 'Positive' if
revenue growth sustains over the medium term and the financial risk
profile improves. The outlook may be revised to 'Negative' if
business is stagnant due to weak demand, or if a stretch in
receivables or pile up of inventory adversely affects liquidity.

Based in Amravati, KE was established in 1995 as a partnership firm
by Mr Laxmikanth Laddha and his mother Ms Padmabai Laddha. The firm
distributes products such as lubricants, garments, automotive
spares, filters, and batteries. It operates through its sales
outlets and warehouses at Amravati and Nagpur.

MANJEERA CONSTRUCTIONS: CRISIL Migrates INR12cr Loan Rating to B-
-----------------------------------------------------------------
Due to inadequate information, CRISIL, in line with SEBI
guidelines, had migrated the rating of Manjeera Constructions Ltd
(MCL) to 'CRISIL B-/Stable/CRISIL A4 Issuer not cooperating'.
CRISIL has withdrawn its ratings on bank facilities of MCL
following a request from the company and on receipt of a 'no
objection certificate' from the banker. Consequently, CRISIL is
migrating the ratings on bank facilities of MCL from 'CRISIL
B-/Stable/CRISIL A4 Issuer Not Cooperating to 'CRISIL
B-/Stable/CRISIL A4'. The rating action is in line with CRISIL's
policy on withdrawal of bank loan ratings.

                     Amount
   Facilities      (INR Crore)     Ratings
   ----------      -----------     -------
   Bank Guarantee       14.71      CRISIL A4/Issuer not
                                   cooperating (Migrated from
                                   'CRISIL A4 ISSUER NOT
                                   COOPERATING'; Rating
                                   Withdrawn)

   Cash Credit           12        CRISIL B-/Stable/Issuer not
                                   cooperating (Migrated from
                                   'CRISIL B-/Stable ISSUER NOT
                                   COOPERATING'; Rating
                                   Withdrawn)

   Working Capital
   Term Loan             13.29     CRISIL B-/Stable/Issuer not
                                   cooperating (Migrated from
                                   'CRISIL B-/Stable ISSUER NOT
                                   COOPERATING'; Rating
                                   Withdrawn)

MCL is part of the Hyderabad-based Manjeera Group of companies,
incorporated in March 1987. MCL undertakes construction and
development of residential and commercial projects in Andhra
Pradesh and Telangana region.

For the nine months ended December, 2018 MCL reported profit after
tax of INR1.31 crore on revenue of INR41.15 crore as against
INR3.64 crore and INR28.78 crore respectively in the corresponding
period of previous fiscal.

METALORE OVERSEAS: Insolvency Resolution Process Case Summary
-------------------------------------------------------------
Debtor: Metalore Overseas Private Limited
        Office No. 536, DLF Tower, Shivaji Marg
        Najafgarh Road, Moti Nagar
        Delhi 110015
        India

Insolvency Commencement Date: May 13, 2019

Court: National Company Law Tribunal, New Delhi Bench

Estimated date of closure of
insolvency resolution process: November 9, 2019
                               (180 days from commencement)

Insolvency professional: Anil Bhatia

Interim Resolution
Professional:            Anil Bhatia
                         M-17, 4th Floor, Main Market
                         Greater Kailash-2
                         New Delhi 110048
                         E-mail: anilbhatia815@gmail.com
                                 mopl.cirp@gmail.com

Last date for
submission of claims:    May 27, 2019


MUGHAL FOUNDATION: CRISIL Migrates D Rating to Not Cooperating
--------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Mughal
Foundation Mall (MFM) to 'CRISIL D Issuer not cooperating'.

                     Amount
   Facilities      (INR Crore)     Ratings
   ----------      -----------     -------
   Long Term Loan         8        CRISIL D (ISSUER NOT
                                   COOPERATING; Rating Migrated)

CRISIL has been consistently following up with MFM for obtaining
information through letters and emails dated February 28, 2019 and
March 18, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed with
the suffix 'ISSUER NOT COOPERATING'. These ratings lack a forward
looking component as it is arrived at without any management
interaction and is based on best available or limited or dated
information on the company.

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of MFM. Which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on MFM is consistent
with 'Scenario 1' outlined in the 'Framework for Assessing
Consistency of Information with CRISIL BB' rating category or
lower'.

Therefore, on account of inadequate information and lack of
management cooperation, CRISIL has migrated the rating on bank
facilities of MFM to 'CRISIL D Issuer not cooperating'.

MFM operates a 1.23 lakh square feet commercial mall in
Kodungallur. It was established in 2012 as a partnership firm by Mr
Mohamed Ali (who manages the operations) and his family.

N. PRAKASH: CRISIL Migrates B+ Rating from Not Cooperating
----------------------------------------------------------
Due to inadequate information, CRISIL, in line with SEBI
guidelines, had migrated the rating of N. Prakash to 'CRISIL
B+/Stable Issuer Not Cooperating'. However, the management has
subsequently started sharing requisite information, necessary for
carrying out comprehensive review of the rating. Consequently,
CRISIL is migrating the rating on bank facilities of N. Prakash
from 'CRISIL B+/Stable Issuer Not Cooperating' to 'CRISIL
B+/Stable'.

                     Amount
   Facilities      (INR Crore)     Ratings
   ----------      -----------     -------
   Long Term Loan        4.15      CRISIL B+/Stable (Migrated
                                   from 'CRISIL B+/Stable ISSUER
                                   NOT COOPERATING')

   Overdraft             1         CRISIL B+/Stable (Migrated
                                   from 'CRISIL B+/Stable ISSUER
                                   NOT COOPERATING')

   Proposed Long Term
   Bank Loan Facility     .85      CRISIL B+/Stable (Migrated
                                   from 'CRISIL B+/Stable ISSUER
                                   NOT COOPERATING')

The rating on the bank facilities of N. Prakash continues to
reflect healthy occupancy of the mens' hostel run by the firm,
stable profitability, and extensive experience of the proprietor.
These strengths are partly offset by the small scale of operations,
amidst intense competition and geographical concentration in
revenue.

Key Rating Drivers & Detailed Description

Weakness:

* Small scale of operations: High cost involved in expansion, and
low net worth of around INR3.14 crore as on March 31, 2018, may
continue to keep the scale of operations small, over the medium
term.

* Geographical concentration and intense competition: The firm
derives its entire revenue from Bengaluru and bulk of the tenants
are from the IT sector. Any economic downturn in the sector, and
intense competition in the paying guest (PG) segment, could
adversely affect the business risk profile in the medium term.

Strengths:
* Healthy occupancy and profitability: Occupancy was around 90%,
given the affordable terms, and should remain healthy in the medium
term, backed by sufficient demand for PG accommodation in
Bengaluru. Supported by its occupancy, operating profitability was
comfortable at around 41.5% for fiscal 2018. Profitability is
expected to remain comfortable over the medium term.

* Extensive experience of the proprietor: The decade-long
experience of the proprietor in the hospitality industry, and his
strong understanding of business dynamics, should support the
business risk profile in the medium term.

Liquidity
The firm is expected to generate accruals in the range of
INR0.7-0.8 crore over the medium term against repayment obligation
of INR0.5 crore, during the corresponding period. Liquidity is
further supported by stability in its rental business and
moderately utilized overdraft limit. Sanctioned limit of INR1
crore, was moderately utilized at around 90% during the past 12
months. The firm's liquidity continues to be supported by security
deposit in rental and unsecured loans from the proprietor.

Outlook: Stable

CRISIL believes N. Prakash will continue to benefit from the
extensive experience of its proprietor. The outlook may be revised
to 'Positive' if larger-than-expected cash accrual improves
liquidity. The outlook may be revised to 'Negative' if
substantially low occupancy leads to weak liquidity and reduce
cushion with the repayment obligations.

Established in 2008, the firm operates a PG hostel for men in
Bengaluru, with around 201 rooms. It is managed by Mr.N.Prakash.

PAWAN CASTINGS: Ind-Ra Migrates 'BB' LT Rating to Non-Cooperating
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Pawan Castings
Meghalaya Private Limited's Long-Term Issuer Rating to the
non-cooperating category. The issuer did not participate in the
rating exercise, despite continuous requests and follow-ups by the
agency. Therefore, investors and other users are advised to take
appropriate caution while using these ratings. The rating will now
appear as 'IND BB (ISSUER NOT COOPERATING)' on the agency's
website.

The instrument-wise rating actions are:

-- INR150 mil. Fund-based limits migrated to non-cooperating
     category with IND BB (ISSUER NOT COOPERATING) rating; and

-- INR10 mil. Long-term loan due on March 2022 migrated to non-
     cooperating category with IND BB (ISSUER NOT COOPERATING)
     rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on May
18, 2018. Ind-Ra is unable to provide an update, as the agency does
not have adequate information to review the ratings.

COMPANY PROFILE

Incorporated in 2001, Pawan Castings Meghalaya manufactures
thermo-mechanically treated bars at its plant located at Burnihat,
Meghalaya, which has an annual installed capacity of 54,000 metric
tons.

PROTAC FOODS: CRISIL Migrates D Rating to Not Cooperating
---------------------------------------------------------
CRISIL has migrated the rating on bank facilities of ProTAC Foods
International Private Limited (PFIPL) to 'CRISIL D Issuer not
cooperating'.

                     Amount
   Facilities      (INR Crore)     Ratings
   ----------      -----------     -------
   Cash Credit           4         CRISIL D (ISSUER NOT
                                   COOPERATING; Rating Migrated)
   Proposed Long Term
   Bank Loan Facility    2.5       CRISIL D (ISSUER NOT
                                   COOPERATING; Rating Migrated)

   Term Loan            18.5       CRISIL D (ISSUER NOT
                                   COOPERATING; Rating Migrated)

CRISIL has been consistently following up with PFIPL for obtaining
information through letters and emails dated February 28, 2019 and
March 18, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed with
the suffix 'ISSUER NOT COOPERATING'. These ratings lack a forward
looking component as it is arrived at without any management
interaction and is based on best available or limited or dated
information on the company.

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of PFIPL. Which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on PFIPL is
consistent with 'Scenario 1' outlined in the 'Framework for
Assessing Consistency of Information with CRISIL BB' rating
category or lower'.

Therefore, on account of inadequate information and lack of
management cooperation, CRISIL has migrated the rating on bank
facilities of PFIPL to 'CRISIL D Issuer not cooperating'.

Protac Foods International Pvt Ltd was promoted by Mr Tarun Kunzru
(managing director), Mr Chethan MV and Mr Abhishek Gowda M.N to
engage in chicken processing, with an integrated cold chain
preservative system and sales. The company was incorporated on
February 5, 2014. The company has commenced operations since June
2016.

SHARAN HOSPITALITY: Insolvency Resolution Process Case Summary
--------------------------------------------------------------
Debtor: Sharan Hospitality Private Limited
        Ground Floor, Gys Infinity
        Paranjpe 'B' Scheme
        Subhash Road, Vile Parle (East)
        Mumbai Mh 400057 In

Insolvency Commencement Date: May 8, 2019

Court: National Company Law Tribunal, Mumbai Bench

Estimated date of closure of
insolvency resolution process: November 3, 2019

Insolvency professional: Rakesh Kumar Tulsyan

Interim Resolution
Professional:            Rakesh Kumar Tulsyan
                         B-4, Vinay Tower
                         Kranti Nagar, Lokhandwala
                         Kandivali East
                         Mumbai 400101
                         E-mail: tulsyanrk@gmail.com

                            - and -

                         Office No. 3, 1st Floor, B Wing
                         Sukh Sagar, Akurli
                         Cross Road No. 1
                         Kandivali East
                         Mumbai 400101
                         E-mail: rp.sharanhospitality@gmail.com

Last date for
submission of claims:    May 21, 2019


SHIV SHAKTI: CRISIL Assigns B+ Rating to INR10cr Cash Credit
------------------------------------------------------------
CRISIL has assigned its 'CRISIL B+/Stable' rating to the long-term
bank facility of Shiv Shakti Khadya Private Limited (SSKPL).

                     Amount
   Facilities      (INR Crore)     Ratings
   ----------      -----------     -------
   Cash Credit           10        CRISIL B+/Stable (Assigned)

The rating reflects the company's modest scale of operations and
low operating margin due to trading business, susceptibility to
climatic conditions and to volatility in raw material prices, large
working capital requirement, and weak financial profile. These
weaknesses are partially offset by the extensive experience of the
promoters in the paddy trading business.

Key Rating Drivers & Detailed Description

Weakness:

* Modest scale of operations and low operating margin due to
trading business: The business risk profile and operating
flexibility are constrained by modest scale of operations in the
intensely competitive paddy trading business. Small initial
investment and low complexity of operations have resulted in
existence of innumerable small entities, leading to significant
fragmentation and competition, and consequently, low operation
margin for players.

* Susceptibility to climatic conditions and volatility in raw
material prices: The yield of agricultural commodities depends on
the monsoon. Thus, SSKPL is exposed to the risk of limited
availability of its key raw material, paddy, during a weak monsoon.
Also, production may be affected by pests or crop infection,
leading to higher unpredictability in production and pricing of
agricultural commodities and derived products.

* Large working capital requirement: Gross current assets were at
16-278 days over the three fiscals ended March 31, 2018. The
company's large working capital requirement is reflected in gross
current assets (GCAs) of 278 days as on March 31, 2018, against
over 108 days for some of its peers. SSKPL's large working capital
requirement in fiscal 2018 was because of piling up of inventory
due to sudden fall in sales caused by demonetization.

* Weak financial risk profile: Debt protection measures were weak
in fiscal 2018 due to high gearing and low accrual from operations.
The interest coverage and net cash accrual to total debt ratio were
at 1.46 times and 0.19 time, respectively, for fiscal 2018, but are
expected to improve over the medium term.

Strengths:
* Extensive industry experience of the promoters: The promoters
have experience of over a decade in trading in paddy. This has
given them an understanding of the dynamics of the market, and
enabled them to establish relationships with suppliers and
customers.

Liquidity
Bank limit was fully utilised over the 12 months ended March 31,
2019, and the bank limit utilisation is expected to remain high on
account of large working capital requirement. Cash accrual is
expected at INR0.3-0.5 crore against nil term debt obligation, and
will cushion liquidity. Current ratio was 1.04 times as on March
31, 2018, and is expected to improve over the medium term.

Outlook: Stable

CRISIL believes SSKPL will continue to benefit over the medium term
from its longstanding relationships with principal suppliers and
the experience of the management, which will help mitigate the
inherent risks in the trading business. The outlook may be revised
to 'Positive' if the company sustains revenue growth while
improving its financial risk profile. The outlook may be revised to
'Negative' if the business is stagnant due to weak demand, or if a
stretch in receivables or pile-up of inventory adversely affects
liquidity.

Incorporated in 2010, SSKPL trades in paddy. The company is owned
and managed by Mr Phate Bahadur Singh and Ms Punam Devi.

SIDDHARTH MILK: Insolvency Resolution Process Case Summary
----------------------------------------------------------
Debtor: Siddharth Milk And Milk Products Private Limited

        Registered office:
        Plot No. 84, Kundaim Industrial Estate
        Kundaim, South Goa
        Goa 403115

        Principal/Factory office:
        Plot No. 39A, Sector J, Phase 4
        Parvati Cooperative Industrial Estate
        Yadrav, Ichalkaranji
        Dist. Kolhapur 416146

Insolvency Commencement Date: April 26, 2019

Court: National Company Law Tribunal, Mumbai Bench

Estimated date of closure of
insolvency resolution process: October 23, 2019

Insolvency professional: Ravindra Chaturvedi

Interim Resolution
Professional:            Ravindra Chaturvedi
                         C/o Parekh Shah & Lodha
                         31E, BKC Centre
                         Laxmi Industrial Estate
                         New Link Road, Andheri (W)
                         Mumbai 400053
                         E-mail: ravinchaturvedi@hotmail.com
                                 ip1.ravinchaturvedi@gmail.com

Last date for
submission of claims:    May 10, 2019


TAGORE EDUCATIONAL: CRISIL Cuts Rating on INR40.7cr Loan to D
-------------------------------------------------------------
CRISIL has downgraded its rating on the long-term bank loan
facilities of Tagore Educational Trust (TET) to 'CRISIL D' from
'CRISIL B+/Stable'.

                     Amount
   Facilities      (INR Crore)     Ratings
   ----------      -----------     -------
   Cash Credit           6.5       CRISIL D (Downgraded from
                                   'CRISIL B+/Stable')

   Long Term Loan       40.7       CRISIL D (Downgraded from
                                   'CRISIL B+/Stable')

   Overdraft             4         CRISIL D (Downgraded from
                                   'CRISIL B+/Stable')

   Proposed Long Term
   Bank Loan Facility     2.8      CRISIL D (Downgraded from
                                   'CRISIL B+/Stable')

The downgrade reflects delays in servicing debt in the months of
January, February and March 2019.

The rating also reflects modest liquidity and vulnerability to
regulatory risks associated with educational institutions. These
weaknesses are partially offset by an established regional position
in the education sector.

Key Rating Drivers & Detailed Description

Weakness:

* Modest liquidity: The trust collects fees once a year over 3-4
months. Though the principal payment is once per annum, the Trust
has been facing liquidity crunch during the non-fee collection
period.

* Susceptibility to regulatory changes and exposure to intense
competition: The education sector is highly regulated in India. The
trust has to comply with specific operational and infrastructure
norms laid down by regulatory bodies. Further, there are various
institutions in the area, thus increasing competition.

Strength
* Established regional position: Established in 1999, the trust has
significant regional visibility, reflected in high occupancy of
over 90%. The diversified revenue profile and addition of new
courses is expected to support the business risk profile over the
medium term.

Liquidity
The Trust has delayed its debt servicing in the months of January,
February and March 2019. The trust collects fees once a year over
3-4 months. Though the principal payment is once per annum, the
Trust has been facing liquidity crunch during the non-fee
collection period.

TET is a registered trust established under the Society Act in 1997
by Prof Mala M (chairperson). It is based in Chennai where it runs
engineering, medical, arts colleges and a school.

UNITED CHLORO: Ind-Ra Migrates D Issuer Rating to Non-Cooperating
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated United Chloro
Paraffins Private Limited's Long-Term Issuer Rating to the
non-cooperating category. The issuer did not participate in the
rating exercise despite continuous requests and follow-ups by the
agency. Therefore, investors and other users are advised to take
appropriate caution while using these ratings. The rating will now
appear as 'IND D (ISSUER NOT COOPERATING)' on the agency's website.


The instrument-wise rating actions are:

-- INR117.5 mil. Fund-based limits (Long-term) migrated to non-
     cooperating category with IND D (ISSUER NOT COOPERATING)
     rating; and

-- INR182.5 mil. Non-fund-based limits (Short-term) migrated to
     non-cooperating category with IND D (ISSUER NOT COOPERATING)
     rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on May
17, 2018. Ind-Ra is unable to provide an update, as the agency does
not have adequate information to review the ratings.

COMPANY PROFILE

Incorporated in July 2003, Kolkata-based UCPPL manufactures
chlorinated paraffin wax, hydrochloric acid, and plastic
masterbatches and anti-fat compounds. Mr. Debdip Ghosh, Mr. Gobinda
Charan Ghosh, Mr. Vijay Kumar Tiwary, and Mr. Gopal Khandelwal are
the promoters.



=================
I N D O N E S I A
=================

ABM INVESTAMA: Fitch Cuts LT IDR to B+, Outlook Negative
---------------------------------------------------------
Fitch Ratings has downgraded PT ABM Investama Tbk's Long-Term
Foreign-Currency Issuer Default Rating (IDR) to 'B+' from 'BB-'.
The Outlook is Negative. The agency has also downgraded the rating
on ABM's US dollar senior notes to 'B+' with a Recovery Rating of
'RR4' from 'BB-'.

The downgrade reflects ABM's weakening business profile due to the
loss of coal mining contracts with one of its customers - Toba Bara
Sejahtra Tbk - in 1Q2019. Toba Bara, which contributed about 20% of
ABM's total revenue in 2018, terminated its three contracts with
ABM's mining services subsidiary, PT Cipta Kridatama (CK). ABM also
struggles to find a suitable acquisition target to replenish its
falling reserves at its key mine, PT Tunas Indi Abadi (TIA), which
has a reserve life of fewer than four years. This adds to ABM's
weakening business profile. The loss of revenues at CK is also
likely to weaken ABM's financial profile.

The Negative Outlook reflects the execution risks associated with
the company's plan to substitute the lost revenue and expand the
volumes for its coal contracting segment. Fitch believes ABM's
credit profile will be in line with a 'B+' rating if the company's
plan is successful. Fitch could revise the Outlook to Stable once
the company is able to demonstrate it can increase the volumes and
profitability of the coal contracting business while maintaining
its financial profile.

KEY RATING DRIVERS

Weakened Coal Contracting Business: ABM's coal mining subsidiary
CK's operating profile has weakened with the cancellation of three
key contracts by its top customer Toba Bara. This is likely to
result in lower overburden volumes and thereby lower earnings over
the next 12-24 months while CK tries to replace volumes with new
contracts. We believe the company could take a few years to regain
its market share in terms of volumes, although we expect the spare
capacity to be partially used up in 2019 as CK starts work at a new
site. Toba Bara had a signed a five-year contract with CK in 2015
and accounted for about 45% of CK's overburden removal volumes in
2018.

ABM did show a modest recovery in its coal mining services in 2018,
mainly led by higher volumes at Toba Bara, a reflection of its
efforts to improve operational efficiencies in this segment.
However, CK's recovery might be further delayed because of the lost
revenue. We recognize CK's young fleet and quality Caterpillar
equipment sourced through an affiliated company. This can aid its
efforts to obtain new customers, in Fitch's view.

Weakening Financial Profile: We expect ABM's financial profile to
weaken in light of deterioration in CK's operations. Fitch expects
ABM's funds from operations (FFO) adjusted net leverage to remain
above 3.0x and its FFO fixed-charge cover to stay below 2.5x. ABM
also plans to acquire a minority stake in another coal mining
company in 2019 for USD60 million after successfully obtaining
consent from its bondholders for waiver of certain covenants. Fitch
believes the investment will reduce ABM's cash balance (end-2018:
USD157 million) and will require the company to increase its
reliance on debt funding for any future acquisitions. Nevertheless,
we expect ABM's free cash flow before acquisitions to remain
positive in light of our moderate capex expectations.

Depleting Reserves at Key Mine: ABM plans to improve the profile of
its coal mine portfolio by acquiring a majority stake in a
mid-range calorific value (CV) mining concession. The company has
not been able to find a suitable target, but Fitch believes an
acquisition is important to replenish the company's depleting coal
reserves at TIA, ABM's key mine. TIA produces coal with a CV of
4,200kcal/kg and has only a four-year reserve life at current
production levels. ABM's second mine, PT MIFA Bersaudara, is a cost
efficient mine with higher reserves at about 220 million tons,
although the mine produces much lower CV coal of 3,100-3,400kcal/kg
resulting in lower profits compared with TIA. Fitch has not
factored any acquisition in its assessment and treats it as an
event risk.

Integrated Business Model: ABM's benefits from its integrated
business model of four businesses across the energy value chain .
The four businesses - coal mining contracting business, low-cost
coal mining, a logistics business and an engineering operation -
enable ABM to offer services across the value chain to its
customers and can provide synergies. The company also benefits from
its relationships with affiliated companies, including PT Trakindo
Utama, a long-term distributor of Caterpillar, which provides most
of the equipment, spare parts and servicing for ABM's coal
contracting business. Trakindo is also an important customer for
the ABM's logistics and engineering businesses.

Exposure to Cyclical Coal Industry: ABM is vulnerable to the
commodity cycle as around 80% of its EBITDA and cash flow is
derived from the coal industry. This risk is mitigated by its
low-cost position as a coal producer and its integrated business
model.

DERIVATION SUMMARY

ABM's rating is one-notch below PT Bukit Makmur Mandiri Utama
(BUMA, BB-/Stable), which is a coal mining contractor. BUMA has a
stronger business profile with stronger profitability and stronger
market share and is ranked as Indonesia's second-largest mining
contractor. ABM benefits from its diversified business, although
the weakening mining contractor business is likely to result in ABM
becoming more reliant on relatively more volatile coal sales.
Furthermore, BUMA's financial profile is also stronger than ABM's
financial profile.

ABM's rating among coal mining peers is comparable with PT Golden
Energy Mines Tbk (GEMS, B+/Positive), whose rating is based on the
consolidated credit profile of the Golden Energy and Resources
Limited (GEAR, B+/Positive). ABM's relatively more diversified
business is counterbalanced by GEMS' strong coal operations with
longer reserve life and low cost position, as well as the stronger
financial profile of GEMS and GEAR. The Positive Outlook on GEMS
reflects our expectations of higher production volume in the next
two years.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within Our Rating Case for the Issuer:

- Newcastle coal prices in line with the Fitch price deck at 2019:
USD89/ton, 2020: USD78/ton; 2021: USD76/ton and 2022: USD75/ton,
adjusted for calorific value

- The Overburden Volumes for the coal contracting business to be
lower by 50bcm in 2019 due to the contracts cancellations.
Thereafter assumes a 15% volume growth in 2020 and 2021.

- The coal mining volumes to grow by 1-2million tons per year.
- Deterioration in the EBITDA margins to 17%-20% (2018: 24%) due
to weakness in its coal contracting business and Fitch's coal price
assumption

- Capex of USD30 million-40 million in 2019-2022
- No dividends



===============
X X X X X X X X
===============

[*] BOND PRICING: For the Week May 13, 2019 to May 17, 2019
-----------------------------------------------------------
Issuer                   Coupon     Maturity   Currency  Price
------                   ------     --------   --------  -----


  AUSTRALIA
  ---------

ARTSONIG PTY LTD            11.50      04/01/19    USD      1.00
ARTSONIG PTY LTD            11.50      04/01/19    USD      1.00
CLIME CAPITAL LTD            6.25      11/30/21    AUD      0.99
KEYBRIDGE CAPITAL LTD        7.00      07/31/20    AUD      0.92
MIDWEST VANADIUM PTY LT     11.50      02/15/18    USD      0.08
MIDWEST VANADIUM PTY LT     11.50      02/15/18    USD      0.08


  CHINA
  -----

AKESU XINCHENG ASSET IN      6.40      04/20/22    CNY     73.06
ALAER XINXIN STATE-OWNE      6.80      06/16/22    CNY     62.00
ALAER XINXIN STATE-OWNE      6.80      06/16/22    CNY     72.63
ANHUI CHIZHOU CITY TIAN      7.40      10/23/20    CNY     40.70
ANHUI PROVINCE TONGLING      7.30      05/13/21    CNY     61.35
ANHUI PROVINCE TONGLING      7.30      05/13/21    CNY     61.91
ANHUI SHENGYUN ENVIRONM      6.98      03/23/20    CNY     45.00
ANJI COUNTY STATE-OWNED      8.30      04/24/21    CNY     61.56
ANJI COUNTY STATE-OWNED      8.30      04/24/21    CNY     61.57
ANKANG DEVELOPMENT & IN      6.35      03/06/20    CNY     40.55
ANSHUN STATE-RUN ASSETS      6.98      01/10/20    CNY     40.01
ANSHUN STATE-RUN ASSETS      6.98      01/10/20    CNY     40.17
ANYANG INVESTMENT GROUP      8.00      04/17/19    CNY     20.12
BAODING NATIONAL HI-TEC      7.33      12/24/19    CNY     20.19
BAOJI NEW HI TECH INDUS      8.25      04/21/21    CNY     61.23
BAOJI NEW HI TECH INDUS      8.25      04/21/21    CNY     61.23
BAOSHAN STATE-OWNED ASS      7.30      12/10/19    CNY     20.05
BAOTOU STATE OWNED ASSE      7.03      09/17/19    CNY     20.13
BAYAN ZHUOER HETAO WATE      8.54      03/31/22    CNY     62.79
BAYANNUR LINHE DISTRICT      7.90      11/13/20    CNY     40.72
BAZHONG STATE-OWNED ASS      8.50      04/25/21    CNY     60.00
BAZHONG STATE-OWNED ASS      8.50      04/25/21    CNY     62.74
BEIJING BIOMEDICINE IND      6.35      07/23/20    CNY     40.77
BEIJING BIOMEDICINE IND      6.35      07/23/20    CNY     40.80
BEIJING CAPITAL DEVELOP      5.95      05/29/19    CNY     20.16
BEIJING CAPITAL DEVELOP      6.50      02/27/21    CNY     61.29
BEIJING CAPITAL DEVELOP      7.19      01/15/21    CNY     61.52
BEIJING CAPITAL DEVELOP      7.19      01/15/21    CNY     61.72
BEIJING CHANGXIN CONSTR      6.74      04/22/21    CNY     61.70
BEIJING CHANGXIN CONSTR      6.74      04/22/21    CNY     61.94
BEIJING CHAOYANG STATE-      5.25      03/27/20    CNY     40.18
BEIJING CHAOYANG STATE-      5.25      03/27/20    CNY     40.30
BEIJING CONSTRUCTION EN      5.95      07/05/19    CNY     20.16
BEIJING FUTURE SCIENCE       6.28      09/22/19    CNY     25.32
BEIJING GUCAI GROUP CO       6.60      09/06/20    CNY     40.20
BEIJING GUCAI GROUP CO       6.60      09/06/20    CNY     40.21
BEIJING HAIDIAN STATE-O      5.50      08/07/20    CNY     40.56
BEIJING HAIDIAN STATE-O      5.50      08/07/20    CNY     40.70
BEIJING JINGMEI GROUP C      6.14      09/09/20    CNY     40.30
BEIJING JINGMEI GROUP C      6.14      09/09/20    CNY     40.72
BEIJING JINLIYUAN STATE      7.00      10/28/20    CNY     41.42
BEIJING SHIJINGSHAN STA      6.08      08/18/21    CNY     60.77
BEIJING SHIJINGSHAN STA      6.08      08/18/21    CNY     61.76
BEIJING XINCHENG INFRAS      7.50      04/21/21    CNY     61.70
BEIJING XINCHENG INFRAS      7.50      04/21/21    CNY     61.83
BEIJING XINGZHAN INVEST      6.48      08/31/19    CNY     20.17
BEIJING XINGZHAN INVEST      6.48      08/31/19    CNY     20.22
BEIJING XINGZHAN INVEST      6.66      04/24/21    CNY     61.20
BEIJING XINGZHAN INVEST      6.66      04/24/21    CNY     61.95
BENGHU HI NEW TECH INVE      8.70      04/17/21    CNY     61.54
BENGHU HI NEW TECH INVE      8.70      04/17/21    CNY     61.55
BIJIE KAIYUAN CONSTRUCT      7.78      02/25/21    CNY     61.23
BIJIE KAIYUAN CONSTRUCT      7.78      02/25/21    CNY     62.89
BINZHOU HI-TECH DEVELOP      8.60      01/10/21    CNY     61.16
BINZHOU HI-TECH DEVELOP      8.60      01/10/21    CNY     61.17
BORALA MONGOL AUTONOMOU      7.18      08/09/20    CNY     40.37
C&D REAL ESTATE CORP LT      6.15      04/03/20    CNY     40.49
CANGZHOU CONSTRUCTION &      6.72      01/23/20    CNY     40.30
CANGZHOU CONSTRUCTION &      6.72      01/23/20    CNY     40.57
CHANGCHUN MODERN AGRICU      7.00      07/25/21    CNY     60.75
CHANGDE ECONOMIC DEVELO      7.19      09/12/19    CNY     20.27
CHANGDE ECONOMIC DEVELO      7.19      09/12/19    CNY     20.36
CHANGDE ECONOMIC DEVELO      7.00      03/24/21    CNY     61.86
CHANGDE ECONOMIC DEVELO      7.00      03/24/21    CNY     61.87
CHANGDE URBAN CONSTRUCT      6.50      02/25/20    CNY     40.65
CHANGRUN INVESTMENT & G      6.88      09/16/20    CNY     40.24
CHANGRUN INVESTMENT & G      6.88      09/16/20    CNY     40.84
CHANGSHA CITY CONSTRUCT      6.95      04/24/19    CNY     20.13
CHANGSHA COUNTY XINGCHE      8.35      04/06/19    CNY     20.15
CHANGSHA COUNTY XINGCHE      8.35      04/06/19    CNY     20.20
CHANGSHA COUNTY XINGCHE      7.90      03/25/22    CNY     74.21
CHANGSHA COUNTY XINGCHE      7.90      03/25/22    CNY     74.67
CHANGSHA ECONOMIC & TEC      8.45      04/13/22    CNY     63.07
CHANGSHA METRO GROUP CO      6.20      04/23/23    CNY     73.01
CHANGSHA METRO GROUP CO      6.20      04/23/23    CNY     73.22
CHANGSHA PILOT INVESTME      6.70      12/10/19    CNY     20.40
CHANGSHA YUHUA URBAN CO      7.17      04/18/21    CNY     60.93
CHANGSHA YUHUA URBAN CO      7.17      04/18/21    CNY     61.76
CHANGSHU BINJIANG URBAN      6.85      04/27/19    CNY     20.09
CHANGSHU BINJIANG URBAN      6.85      04/27/19    CNY     20.09
CHANGSHU BINJIANG URBAN      6.39      09/11/21    CNY     60.23
CHANGSHU BINJIANG URBAN      6.39      09/11/21    CNY     61.38
CHANGSHU CITY OPERATION      8.00      01/16/19    CNY     20.01
CHANGSHU DEVELOPMENT IN      5.80      04/19/20    CNY     40.42
CHANGSHU TRANSPORTATION      7.00      04/29/21    CNY     61.79
CHANGXING COUNTY TRANSP      6.75      06/16/21    CNY     60.00
CHANGXING COUNTY TRANSP      6.75      06/16/21    CNY     61.10
CHANGXING COUNTY TRANSP      7.88      04/30/21    CNY     61.55
CHANGXING COUNTY TRANSP      7.88      04/30/21    CNY     62.14
CHANGXING URBAN CONSTRU      6.80      11/30/19    CNY     20.12
CHANGXING URBAN CONSTRU      6.80      11/30/19    CNY     20.33
CHANGXING URBAN CONSTRU      6.00      12/03/21    CNY     60.95
CHANGXING URBAN CONSTRU      6.00      12/03/21    CNY     61.14
CHANGZHI CITY CONSTRUCT      6.46      02/26/20    CNY     40.38
CHANGZHOU BINHU CONSTRU      8.04      12/12/20    CNY     41.90
CHANGZHOU BINHU CONSTRU      8.04      12/12/20    CNY     62.43
CHANGZHOU HI-TECH GROUP      6.18      03/21/20    CNY     40.48
CHANGZHOU HI-TECH GROUP      6.18      03/21/20    CNY     40.48
CHANGZHOU JINTAN DISTRI      8.30      03/14/19    CNY     20.05
CHANGZHOU JINTAN DISTRI      6.38      04/26/20    CNY     40.47
CHANGZHOU PUBLIC HOUSIN      6.64      07/02/21    CNY     61.74
CHANGZHOU PUBLIC HOUSIN      6.64      07/02/21    CNY     61.76
CHENGDU CITY DEVELOPMEN      6.18      01/14/20    CNY     39.50
CHENGDU CITY DEVELOPMEN      6.18      01/14/20    CNY     40.36
CHENGDU ECO &TECH DEVEL      6.90      05/30/21    CNY     61.81
CHENGDU ECO &TECH DEVEL      6.90      05/30/21    CNY     61.82
CHENGDU ECONOMIC&TECHNO      6.55      07/17/19    CNY     20.16
CHENGDU ECONOMIC&TECHNO      6.55      07/17/19    CNY     20.24
CHENGDU HI-TECH INVESTM      6.28      11/20/19    CNY     20.35
CHENGDU HI-TECH INVESTM      6.28      11/20/19    CNY     20.38
CHENGDU LONGBO INVESTME      8.10      04/24/21    CNY     57.50
CHENGDU LONGBO INVESTME      8.10      04/24/21    CNY     61.39
CHENGDU PIDU DISTRICT S      7.25      10/15/20    CNY     38.50
CHENGDU PIDU DISTRICT S      7.25      10/15/20    CNY     40.52
CHENGDU XINCHENG XICHEN      8.35      03/19/19    CNY     20.18
CHENGDU XINGCHENG INVES      6.17      01/28/20    CNY     39.10
CHENGDU XINGCHENG INVES      6.17      01/28/20    CNY     40.34
CHENGDU XINGJIN URBAN C      7.30      11/27/19    CNY     20.45
CHENGDU XINGJIN URBAN C      7.30      11/27/19    CNY     20.47
CHENGDU XINKAIYUAN URBA      7.43      08/12/21    CNY     61.77
CHENGDU XINKAIYUAN URBA      7.43      08/12/21    CNY     62.37
CHENGFA INVESTMENT GROU      6.87      04/30/21    CNY     61.36
CHENGFA INVESTMENT GROU      6.87      04/30/21    CNY     61.86
CHENZHOU BAIFU INVESTME      6.54      08/28/21    CNY     61.25
CHENZHOU BAIFU INVESTME      6.54      08/28/21    CNY     61.47
CHENZHOU XINTIAN INVEST      6.30      07/17/20    CNY     39.66
CHINA ENERGY RESERVE AN      6.25      12/21/18    USD     33.66
CHINA WANDA GROUP CO LT      5.20      09/08/21    CNY     59.50
CHINA YIXING ENVIRONMEN      7.10      10/18/20    CNY     40.26
CHINA YIXING ENVIRONMEN      7.10      10/18/20    CNY     40.73
CHONGQING BANAN ECONOMI      7.00      08/20/21    CNY     60.50
CHONGQING BANAN ECONOMI      7.00      08/20/21    CNY     61.96
CHONGQING BEICHENG CONS      7.30      10/16/20    CNY     41.00
CHONGQING BEICHENG CONS      7.30      10/16/20    CNY     41.13
CHONGQING BEIFEI INDUST      7.13      12/25/19    CNY     20.46
CHONGQING CHANGSHOU DEV      7.45      09/25/19    CNY     20.13
CHONGQING CHANGSHOU DEV      7.45      09/25/19    CNY     20.13
CHONGQING CHANGSHOU ECO      7.20      07/15/21    CNY     60.90
CHONGQING CHANGSHOU ECO      7.20      07/15/21    CNY     60.91
CHONGQING CHANGSHOU ECO      7.10      06/19/21    CNY     60.75
CHONGQING CHANGSHOU ECO      7.10      06/19/21    CNY     60.76
CHONGQING CITY CONSTRUC      5.12      05/21/20    CNY     40.10
CHONGQING CITY CONSTRUC      5.12      05/21/20    CNY     40.28
CHONGQING DASUN ASSET D      6.98      09/10/20    CNY     40.92
CHONGQING DAZU DISTRICT      6.75      04/26/20    CNY     40.20
CHONGQING DAZU DISTRICT      6.75      04/26/20    CNY     40.44
CHONGQING FULING DISTRI      8.40      03/23/19    CNY     40.16
CHONGQING FULING DISTRI      8.40      03/23/19    CNY     40.17
CHONGQING FULING DISTRI      7.89      03/20/21    CNY     61.16
CHONGQING FULING DISTRI      7.89      03/20/21    CNY     61.79
CHONGQING FULING STATE-      6.39      01/21/20    CNY     40.22
CHONGQING FULING STATE-      6.39      01/21/20    CNY     40.45
CHONGQING GAOXIN ZONE D      7.80      04/25/21    CNY     62.02
CHONGQING GAOXIN ZONE D      7.80      04/25/21    CNY     62.03
CHONGQING GARDENING IND      8.45      06/03/21    CNY     62.93
CHONGQING GARDENING IND      8.45      06/03/21    CNY     62.93
CHONGQING HAOJIANG CONS      7.99      11/22/20    CNY     40.94
CHONGQING HAOJIANG CONS      7.99      11/22/20    CNY     40.97
CHONGQING HAOJIANG CONS      8.05      03/06/21    CNY     61.13
CHONGQING HAOJIANG CONS      8.05      03/06/21    CNY     61.24
CHONGQING HECHUAN INDUS      6.19      06/17/20    CNY     40.28
CHONGQING HECHUAN INDUS      6.19      06/17/20    CNY     40.30
CHONGQING HECHUAN URBAN      7.30      07/07/21    CNY     61.51
CHONGQING HECHUAN URBAN      7.30      07/07/21    CNY     61.76
CHONGQING HONGRONG CAPI      7.20      10/16/19    CNY     20.11
CHONGQING HONGRONG CAPI      7.20      10/16/19    CNY     20.30
CHONGQING HONGYE INDUST      6.30      06/03/20    CNY     40.39
CHONGQING HONGYE INDUST      6.30      06/03/20    CNY     40.39
CHONGQING JIANGBEIZUI C      6.50      07/21/21    CNY     62.14
CHONGQING JIANGJIN HUAX      7.46      09/21/19    CNY     20.23
CHONGQING JIANGJIN HUAX      7.46      09/21/19    CNY     20.40
CHONGQING JINYUN ASSET       6.75      06/18/19    CNY     20.04
CHONGQING JINYUN ASSET       6.75      06/18/19    CNY     20.18
CHONGQING JIULONG HI-TE      6.60      08/19/21    CNY     60.00
CHONGQING JIULONG HI-TE      6.60      08/19/21    CNY     61.65
CHONGQING LAND PROPERTI      7.35      04/25/19    CNY     20.13
CHONGQING LAND PROPERTI      7.35      04/25/19    CNY     20.13
CHONGQING LAND PROPERTI      6.30      08/22/20    CNY     40.77
CHONGQING LAND PROPERTI      6.30      08/22/20    CNY     40.85
CHONGQING LIANGJIANG NE      5.88      09/16/21    CNY     61.83
CHONGQING LIANGJIANG NE      6.70      04/25/21    CNY     62.08
CHONGQING MAIRUI CITY I      6.82      08/17/19    CNY     20.31
CHONGQING NAN'AN URBAN       8.20      04/09/19    CNY     20.10
CHONGQING NANCHUAN DIST      7.35      09/06/19    CNY     20.23
CHONGQING NANCHUAN DIST      7.35      09/06/19    CNY     20.23
CHONGQING NANFA URBAN C      6.43      04/27/20    CNY     40.51
CHONGQING NANFA URBAN C      6.43      04/27/20    CNY     40.54
CHONGQING QIANJIANG CIT      8.00      03/21/21    CNY     61.70
CHONGQING QIANJIANG CIT      8.00      03/21/21    CNY     61.82
CHONGQING QIJIANG EAST       6.75      01/29/20    CNY     39.61
CHONGQING QIJIANG EAST       6.75      01/29/20    CNY     40.10
CHONGQING SHUANGFU CONS      7.49      10/23/20    CNY     40.00
CHONGQING SHUANGFU CONS      7.49      10/23/20    CNY     40.51
CHONGQING SHUANGQIAO EC      6.75      04/26/20    CNY     40.00
CHONGQING SHUANGQIAO EC      6.75      04/26/20    CNY     40.23
CHONGQING SHUANGQIAO EC      5.99      11/19/21    CNY     58.95
CHONGQING SHUANGQIAO EC      5.99      11/19/21    CNY     59.34
CHONGQING TAX FREE PORT      7.50      04/24/21    CNY     61.80
CHONGQING TAX FREE PORT      7.50      04/24/21    CNY     62.25
CHONGQING TEA GARDEN IN      7.70      05/20/21    CNY     60.86
CHONGQING THREE GORGES       6.40      01/23/19    CNY     25.01
CHONGQING WANSHENG ECO       6.39      04/17/20    CNY     40.20
CHONGQING WANSHENG ECO       6.39      04/17/20    CNY     40.29
CHONGQING WANSHENG ECO       6.95      08/25/21    CNY     60.72
CHONGQING WANSHENG ECO       6.95      08/25/21    CNY     60.73
CHONGQING WANSHENG ECO       8.19      04/08/21    CNY     61.44
CHONGQING WANSHENG ECO       8.19      04/08/21    CNY     62.01
CHONGQING WESTERN MODER      7.08      10/18/20    CNY     41.21
CHONGQING WESTERN MODER      7.08      10/18/20    CNY     41.25
CHONGQING XINGRONG HOLD      8.35      04/19/19    CNY     20.15
CHONGQING XINGRONG HOLD      8.35      04/19/19    CNY     20.26
CHONGQING XIYONG MICRO-      6.76      07/25/19    CNY     20.15
CHONGQING XIYONG MICRO-      6.76      07/25/19    CNY     20.22
CHONGQING XIYONG MICRO-      6.58      07/25/21    CNY     61.00
CHONGQING XIYONG MICRO-      6.58      07/25/21    CNY     61.66
CHONGQING YONGCHUAN HUI      7.33      10/16/19    CNY     20.32
CHONGQING YONGCHUAN HUI      7.33      10/16/19    CNY     20.45
CHONGQING YONGCHUAN HUI      7.28      05/30/21    CNY     61.45
CHONGQING YONGCHUAN HUI      7.28      05/30/21    CNY     61.49
CHONGQING YUFU HOLDING       6.50      09/04/19    CNY     20.10
CHONGQING YUFU HOLDING       6.50      09/04/19    CNY     20.33
CHONGQING YULONG ASSET       6.87      05/31/19    CNY     20.21
CHONGQING YUNAN ASSET M      7.05      06/17/21    CNY     60.87
CHONGQING YUNAN ASSET M      7.05      06/17/21    CNY     61.19
CHONGQING YUXING CONSTR      7.30      12/10/19    CNY     20.23
CHONGQING YUXING CONSTR      7.30      12/10/19    CNY     20.39
CHONGQING YUZHONG STATE      7.25      02/26/21    CNY     61.40
CHONGQING YUZHONG STATE      7.25      02/26/21    CNY     61.52
CHUXIONG AUTONOMOUS DEV      6.60      03/29/20    CNY     36.77
CHUXIONG AUTONOMOUS DEV      6.60      03/29/20    CNY     40.27
CHUZHOU CITY CONSTRUCTI      6.81      11/23/19    CNY     20.35
CHUZHOU CITY CONSTRUCTI      6.81      11/23/19    CNY     20.48
CHUZHOU CITY CONSTRUCTI      6.40      08/22/21    CNY     60.80
CHUZHOU CITY CONSTRUCTI      6.40      08/22/21    CNY     61.94
CHUZHOU TONGCHUANG CONS      7.05      01/09/20    CNY     40.47
CIXI CITY CONSTRUCTION       6.18      08/18/21    CNY     61.76
CIXI CITY CONSTRUCTION       6.18      08/18/21    CNY     61.98
CIXI STATE OWNED ASSET       6.60      09/20/19    CNY     20.28
CIXI STATE OWNED ASSET       6.60      09/20/19    CNY     20.40
DALI ECONOMIC DEVELOPME      8.80      04/24/19    CNY     20.12
DALI ECONOMIC DEVELOPME      8.30      12/11/20    CNY     41.53
DALI ECONOMIC DEVELOPME      7.90      03/04/21    CNY     60.00
DALI ECONOMIC DEVELOPME      8.30      12/11/20    CNY     60.70
DALI ECONOMIC DEVELOPME      7.90      03/04/21    CNY     61.27
DALIAN DETA HOLDING CO       6.50      11/15/19    CNY     20.29
DALIAN PUWAN ENGINEERIN      7.09      02/20/21    CNY     59.60
DALIAN RONGDA INVESTMEN      5.69      12/05/21    CNY     61.20
DALIAN RONGDA INVESTMEN      5.69      12/05/21    CNY     61.41
DALIAN RONGQIANG INVEST      8.60      03/30/19    CNY     40.31
DALIAN RONGQIANG INVEST      7.92      04/14/21    CNY     60.98
DALIAN RONGQIANG INVEST      7.92      04/14/21    CNY     60.99
DALIAN RONGQIANG INVEST      8.60      01/20/21    CNY     61.17
DALIAN RONGQIANG INVEST      8.60      01/20/21    CNY     61.18
DANGYANG XINYUAN INVEST      7.99      05/23/21    CNY     61.00
DANGYANG XINYUAN INVEST      7.99      05/23/21    CNY     61.56
DANYANG INVESTMENT GROU      8.10      03/06/19    CNY     20.07
DANYANG INVESTMENT GROU      8.10      03/06/19    CNY     20.10
DANYANG INVESTMENT GROU      6.81      10/23/19    CNY     25.24
DANYANG INVESTMENT GROU      6.81      10/23/19    CNY     25.31
DANYANG INVESTMENT GROU      6.90      10/23/20    CNY     40.92
DAQING GAOXIN STATE-OWN      6.88      12/05/19    CNY     20.14
DAQING GAOXIN STATE-OWN      6.88      12/05/19    CNY     20.15
DAYE CITY CONSTRUCTION       7.95      11/27/20    CNY     41.45
DAYE CITY CONSTRUCTION       7.30      03/03/21    CNY     61.42
DAYE CITY CONSTRUCTION       7.30      03/03/21    CNY     61.65
DAZHOU INVESTMENT CO LT      6.99      12/25/19    CNY     20.40
DAZHOU INVESTMENT CO LT      6.99      12/25/19    CNY     20.41
DEYANG ECONOMIC DEVELOP      7.90      04/28/21    CNY     61.12
DEYANG ECONOMIC DEVELOP      7.90      04/28/21    CNY     61.29
DONGTAI UBAN CONSTRUCTI      7.10      12/26/19    CNY     20.36
DONGTAI UBAN CONSTRUCTI      7.58      04/23/21    CNY     61.04
DONGTAI UBAN CONSTRUCTI      7.58      04/23/21    CNY     61.86
DONGTAI UBAN CONSTRUCTI      8.65      01/13/21    CNY     62.15
ELION CLEAN ENERGY CO L      6.42      07/19/20    CNY     64.00
ENSHI URBAN CONSTRUCTIO      7.55      10/22/19    CNY     20.32
ENSHI URBAN CONSTRUCTIO      7.50      06/03/21    CNY     60.58
ENSHI URBAN CONSTRUCTIO      7.50      06/03/21    CNY     61.44
EZHOU CITY CONSTRUCTION      7.08      06/19/19    CNY     20.16
EZHOU CITY CONSTRUCTION      7.76      05/15/21    CNY     61.18
EZHOU CITY CONSTRUCTION      7.76      05/15/21    CNY     61.19
EZHOU CITY CONSTRUCTION      6.68      09/19/21    CNY     61.52
EZHOU CITY CONSTRUCTION      6.68      09/19/21    CNY     61.97
FANGCHENGGANG CITY GANG      8.09      04/16/21    CNY     61.37
FANGCHENGGANG CITY GANG      8.09      04/16/21    CNY     64.50
FAR EAST SMARTER ENERGY      5.33      05/24/21    CNY     70.20
FUGU COUNTY STATE-OWNED      8.69      12/16/20    CNY     41.25
FUGU COUNTY STATE-OWNED      8.69      12/16/20    CNY     61.90
FUJIAN JINJIANG INDUSTR      7.08      06/27/21    CNY     60.10
FUJIAN JINJIANG INDUSTR      7.08      06/27/21    CNY     62.25
FUJIAN JINJIANG URBAN C      6.35      04/26/20    CNY     40.71
FUJIAN LONGYAN CITY CON      7.45      08/14/19    CNY     20.16
FUJIAN NANPING HIGHWAY       6.69      01/28/20    CNY     40.40
FUJIAN NANPING HIGHWAY       6.69      01/28/20    CNY     40.51
FUNING URBAN INVESTMENT      7.19      08/15/21    CNY     60.81
FUQING CITY STATE-OWNED      6.66      03/01/21    CNY     55.09
FUQING CITY STATE-OWNED      5.94      11/26/22    CNY     69.18
FUZHOU INVESTMENT DEVEL      6.78      01/16/20    CNY     40.30
FUZHOU INVESTMENT DEVEL      6.78      01/16/20    CNY     40.40
FUZHOU JIANGONG GROUP C      6.80      12/10/19    CNY     40.70
FUZHOU JIANGONG GROUP C      6.80      12/10/19    CNY     40.84
GANSU PROVINCIAL STATE-      5.40      03/06/20    CNY     70.44
GANSU PROVINCIAL STATE-      5.40      03/06/20    CNY     70.66
GANZHOU DEVELOPMENT ZON      8.15      12/31/19    CNY     25.78
GANZHOU DEVELOPMENT ZON      8.15      12/31/19    CNY     25.80
GANZHOU DEVELOPMENT ZON      7.40      02/19/20    CNY     50.78
GANZHOU DEVELOPMENT ZON      7.40      02/19/20    CNY     50.90
GANZHOU DEVELOPMENT ZON      7.43      02/19/21    CNY     61.66
GANZHOU DEVELOPMENT ZON      7.43      02/19/21    CNY     61.72
GAOMI STATE-OWNED ASSET      6.70      11/15/19    CNY     20.27
GAOMI STATE-OWNED ASSET      6.70      11/15/19    CNY     20.37
GOLMUD INVESTMENT HOLDI      8.70      12/30/20    CNY     40.62
GOLMUD INVESTMENT HOLDI      8.70      12/30/20    CNY     40.81
GOOCOO INVESTMENT CO LT      7.20      02/01/21    CNY     50.00
GREENLAND HOLDING GROUP      6.24      05/23/20    CNY     49.89
GREENLAND HOLDING GROUP      6.24      05/23/20    CNY     50.50
GUANG ZHOU PANYU COMMUN      6.30      04/12/19    CNY     25.11
GUANG ZHOU PANYU COMMUN      6.30      04/12/19    CNY     25.12
GUANGAN DEVELOPMENT AND      8.18      04/25/19    CNY     20.14
GUANGAN DEVELOPMENT AND      8.18      04/25/19    CNY     20.20
GUANGAN ECONOMIC & TECH      7.10      09/22/21    CNY     60.43
GUANGAN ECONOMIC & TECH      7.10      09/22/21    CNY     61.48
GUANGXI BAISE DEVELOPME      6.50      07/04/19    CNY     20.04
GUANGXI BAISE DEVELOPME      6.50      07/04/19    CNY     20.18
GUANGXI BAISE DEVELOPME      7.27      06/20/21    CNY     61.91
GUANGXI LAIBIN INDUSTRI      5.97      11/26/21    CNY     60.23
GUANGXI LAIBIN INDUSTRI      5.97      11/26/21    CNY     60.57
GUANGXI LAIBIN URBAN CO      8.36      03/14/19    CNY     40.24
GUANGXI QINZHOU LINHAI       7.68      02/20/21    CNY     60.66
GUANGXI QINZHOU LINHAI       7.68      02/20/21    CNY     60.67
GUANGXI URBAN CONSTRUCT      7.59      04/14/21    CNY     62.41
GUANGXI URBAN CONSTRUCT      7.59      04/14/21    CNY     63.00
GUANGYUAN INVESTMENT HO      7.30      04/22/21    CNY     61.49
GUANGYUAN INVESTMENT HO      7.30      04/22/21    CNY     61.94
GUANGYUAN YUANQU CONSTR      8.35      08/26/21    CNY     62.02
GUANGYUAN YUANQU CONSTR      8.35      08/26/21    CNY     63.06
GUILIN CITY INVESTMENT       6.90      06/13/21    CNY     60.61
GUILIN CITY INVESTMENT       6.90      06/13/21    CNY     60.62
GUIYANG HI-TECH HOLDING      6.01      12/01/19    CNY     24.90
GUIYANG URBAN CONSTRUCT      5.23      12/02/22    CNY     88.00
GUIYANG URBAN DEVELOPME      6.20      02/28/20    CNY     37.56
HAICHENG URBAN JINCAI L      8.56      12/19/20    CNY     40.76
HAICHENG URBAN JINCAI L      8.17      04/16/21    CNY     61.43
HAICHENG URBAN JINCAI L      8.56      12/19/20    CNY     69.00
HAINAN HARBOR & SHIPPIN      6.80      10/18/19    CNY     40.66
HAINAN HARBOR & SHIPPIN      6.80      10/18/19    CNY     70.57
HAINAN JINHAI PULP & PA      6.10      04/15/20    CNY     70.51
HAINAN JINHAI PULP & PA      6.10      04/15/20    CNY     70.54
HAINING CITY DEVELOPMEN      5.58      10/22/21    CNY     60.74
HAINING CITY DEVELOPMEN      5.58      10/22/21    CNY     61.47
HAINING CITY JIANSHAN D      6.90      11/04/20    CNY     41.00
HAINING CITY JIANSHAN D      6.90      11/04/20    CNY     41.24
HAINING STATE-OWNED ASS      6.08      03/06/20    CNY     40.45
HAIXI STATE DEVELOPMENT      8.60      01/02/21    CNY     41.39
HAIXI STATE DEVELOPMENT      8.60      01/02/21    CNY     41.43
HAIYAN COUNTY STATE-OWN      7.00      09/04/20    CNY     41.10
HANGZHOU CANAL COMPREHE      6.00      04/02/20    CNY     40.35
HANGZHOU CANAL COMPREHE      6.00      04/02/20    CNY     40.53
HANGZHOU FUYANG CITY CO      7.20      03/19/21    CNY     61.79
HANGZHOU FUYANG CITY CO      7.20      03/19/21    CNY     61.81
HANGZHOU GONGSHU DISTRI      6.90      07/21/21    CNY     61.68
HANGZHOU GONGSHU DISTRI      6.90      07/21/21    CNY     62.00
HANGZHOU HIGH-TECH INDU      6.45      01/28/20    CNY     39.50
HANGZHOU HIGH-TECH INDU      6.45      01/28/20    CNY     40.34
HANGZHOU XIAOSHAN ECO&T      6.90      05/13/21    CNY     61.72
HANGZHOU XIAOSHAN ECO&T      6.90      05/13/21    CNY     61.89
HANGZHOU YUHANG CITY CO      7.55      03/29/19    CNY     20.15
HANGZHOU YUHANG CITY CO      7.00      03/03/21    CNY     61.90
HANGZHOU YUHANG CITY CO      7.00      03/03/21    CNY     61.95
HANGZHOU YUHANG ECONOMI      7.45      03/03/21    CNY     61.60
HANGZHOU YUHANG ECONOMI      7.45      03/03/21    CNY     62.01
HANGZHOU YUHANG INNOVAT      6.50      03/18/20    CNY     40.00
HANGZHOU YUHANG INNOVAT      6.50      03/18/20    CNY     40.62
HANGZHOU YUHANG TRANSPO      7.19      04/18/21    CNY     61.54
HANGZHOU YUHANG TRANSPO      7.19      04/18/21    CNY     62.23
HANJIANG STATE-OWNED-AS      8.12      01/12/19    CNY     20.00
HANJIANG STATE-OWNED-AS      8.12      01/12/19    CNY     20.01
HANJIANG STATE-OWNED-AS      7.30      11/11/20    CNY     41.40
HANJIANG STATE-OWNED-AS      7.30      11/11/20    CNY     41.55
HEBI ECONOMIC CONSTRUCT      7.88      08/01/21    CNY     61.51
HEBI ECONOMIC CONSTRUCT      7.88      08/01/21    CNY     61.97
HEFEI BINHU NEW ZONE CO      6.35      06/13/19    CNY     40.24
HEFEI BINHU NEW ZONE CO      6.35      06/13/19    CNY     40.40
HEFEI GAOXIN DEVELOPMEN      7.98      03/22/19    CNY     40.13
HEFEI GAOXIN DEVELOPMEN      7.98      03/22/19    CNY     40.14
HEFEI GAOXIN DEVELOPMEN      6.90      03/12/20    CNY     71.05
HEFEI HAIHENG INVESTMEN      7.30      06/12/19    CNY     20.15
HEFEI INDUSTRIAL INVEST      6.30      03/20/20    CNY     40.41
HEFEI INDUSTRIAL INVEST      6.30      03/20/20    CNY     40.54
HEFEI XINCHENG STATE-OW      7.88      04/23/19    CNY     20.13
HEGANG KAIYUAN CITY INV      6.50      07/19/19    CNY     20.16
HEIHE CITY CONSTRUCTION      8.48      03/23/19    CNY     40.28
HEILONGJIANG HECHENG CO      5.60      11/11/21    CNY     58.84
HEILONGJIANG HECHENG CO      5.60      11/11/21    CNY     58.87
HEILONGJIANG HECHENG CO      7.05      06/21/22    CNY     59.89
HEILONGJIANG HECHENG CO      7.05      06/21/22    CNY     60.43
HEILONGJIANG POST-DISAS      7.06      11/20/20    CNY     49.84
HEILONGJIANG POST-DISAS      7.10      11/19/20    CNY     51.01
HEILONGJIANG POST-DISAS      7.10      11/19/20    CNY     51.20
HEILONGJIANG POST-DISAS      7.06      11/20/20    CNY     74.60
HENAN JIYUAN CITY CONST      7.50      09/25/19    CNY     20.31
HENGYANG BAISHAZHOU DEV      6.87      08/22/21    CNY     58.77
HENGYANG BAISHAZHOU DEV      6.87      08/22/21    CNY     60.06
HENGYANG CITY CONSTRUCT      7.06      08/13/19    CNY     20.22
HENGYANG CITY CONSTRUCT      7.06      08/13/19    CNY     20.25
HENGYANG HONGXIANG STAT      6.20      06/19/20    CNY     40.41
HENGYANG HONGXIANG STAT      6.20      06/19/20    CNY     40.58
HENGYANG XIANGJIANG WAT      7.40      04/23/21    CNY     61.91
HENGYANG XIANGJIANG WAT      7.40      04/23/21    CNY     61.96
HEYUAN CITY RUNYE INVES      6.20      12/03/21    CNY     60.07
HEYUAN CITY RUNYE INVES      6.20      12/03/21    CNY     61.14
HEZE INVESTMENT DEVELOP      7.14      03/24/21    CNY     62.07
HEZHOU URBAN CONSTRUCTI      8.16      05/16/21    CNY     61.50
HONGHEZHOU ROAD DEVELOP      6.27      05/06/20    CNY     40.56
HUACHEN ENERGY CO LTD        6.63      05/18/20    USD     53.32
HUAIAN CITY URBAN ASSET      6.87      12/26/19    CNY     20.54
HUAIAN CITY URBAN ASSET      6.87      12/26/19    CNY     39.30
HUAIAN CITY WATER HOLDI      8.25      03/08/19    CNY     20.14
HUAIAN CITY WATER HOLDI      8.25      03/08/19    CNY     20.20
HUAI'AN DEVELOPMENT HOL      7.20      09/06/19    CNY     20.05
HUAI'AN DEVELOPMENT HOL      7.30      03/10/21    CNY     61.67
HUAI'AN DEVELOPMENT HOL      7.30      03/10/21    CNY     61.85
HUAI'AN NEW CITY INVEST      6.95      07/28/21    CNY     61.08
HUAI'AN NEW CITY INVEST      7.45      03/04/21    CNY     61.27
HUAI'AN NEW CITY INVEST      7.45      03/04/21    CNY     61.38
HUAI'AN NEW CITY INVEST      6.95      07/28/21    CNY     61.49
HUAIAN QINGHE NEW AREA       6.68      01/24/20    CNY     40.15
HUAIAN QINGHE NEW AREA       6.68      01/24/20    CNY     40.21
HUAIHUA CITY INDUSTRIAL      7.70      10/29/20    CNY     40.44
HUAINAN URBAN CONSTRUCT      6.79      07/09/21    CNY     60.54
HUAINAN URBAN CONSTRUCT      6.79      07/09/21    CNY     60.55
HUANGGANG CITY CONSTRUC      8.60      12/25/20    CNY     42.25
HUANGGANG CITY CONSTRUC      8.60      12/25/20    CNY     42.47
HUANGGANG CITY CONSTRUC      7.45      03/04/21    CNY     61.81
HUANGGANG CITY CONSTRUC      7.45      03/04/21    CNY     62.00
HUANGSHI CIHU HIGH-TECH      8.70      12/05/20    CNY     42.09
HUANGSHI CIHU HIGH-TECH      9.30      01/21/21    CNY     62.12
HUANGSHI URBAN CONSTRUC      6.96      10/25/19    CNY     20.28
HUBEI QUANZHOU YANGTZE       6.50      04/02/20    CNY     70.25
HUBEI QUANZHOU YANGTZE       6.50      04/02/20    CNY     70.92
HUIAN STATE ASSETS INVE      7.50      10/15/19    CNY     20.13
HUIAN STATE ASSETS INVE      7.50      10/15/19    CNY     20.16
HULUDAO INVESTMENT GROU      7.05      10/18/20    CNY     40.44
HULUDAO INVESTMENT GROU      7.05      10/18/20    CNY     40.89
HULUDAO INVESTMENT GROU      7.50      10/18/23    CNY     72.19
HUNAN CHANGDE DEYUAN IN      6.50      06/16/21    CNY     61.16
HUNAN CHANGDE DEYUAN IN      6.50      06/16/21    CNY     61.37
HUNAN TIER GROUP CO LTD      8.00      12/23/20    CNY     41.78
HUNAN TIER GROUP CO LTD      7.10      03/03/21    CNY     61.52
HUNAN TIER GROUP CO LTD      7.10      03/03/21    CNY     61.80
HUNAN TIER GROUP CO LTD      8.00      12/23/20    CNY     62.72
HUNAN XIANGJIANG NEW AR      7.36      03/17/21    CNY     62.39
HUNAN XIANGJIANG NEW AR      7.36      03/17/21    CNY     62.64
HUNNAN JINYANG INVESTME      5.70      11/27/21    CNY     60.63
HUNNAN JINYANG INVESTME      5.70      11/27/21    CNY     78.60
HUZHOU CITY INVESTMENT       6.70      12/14/19    CNY     20.35
HUZHOU NANXUN STATE-OWN      8.15      03/31/19    CNY     20.12
HUZHOU URBAN CONSTRUCTI      6.48      08/28/21    CNY     60.31
HUZHOU URBAN CONSTRUCTI      6.48      08/28/21    CNY     61.92
HUZHOU WUXING NANTAIHU       8.79      01/16/21    CNY     61.72
HUZHOU XISAISHAN DEVELO      7.80      04/29/21    CNY     61.22
HUZHOU XISAISHAN DEVELO      7.80      04/29/21    CNY     62.02
INNER MONGOLIA KE'ERQIN      7.75      09/24/19    CNY     20.21
INNER MONGOLIA SHENGXIA      8.18      08/21/21    CNY     58.91
INNER MONGOLIA SHENGXIA      8.18      08/21/21    CNY     60.31
INNER MONGOLIA ZHUNGEER      6.54      12/31/21    CNY     62.12
INNER MONGOLIA ZHUNGEER      6.54      12/31/21    CNY     62.49
JIAN CITY CONSTRUCTION       7.80      04/20/19    CNY     20.09
JIAN CITY CONSTRUCTION       7.80      04/20/19    CNY     20.14
JIAN CITY JINGANGSHAN D      7.99      06/03/21    CNY     61.00
JIAN CITY JINGANGSHAN D      7.99      06/03/21    CNY     61.27
JIANAN INVESTMENT HOLDI      7.68      09/04/19    CNY     20.32
JIANAN INVESTMENT HOLDI      7.68      09/04/19    CNY     40.00
JIANAN INVESTMENT HOLDI      6.85      05/23/21    CNY     61.95
JIANAN INVESTMENT HOLDI      6.85      05/23/21    CNY     62.26
JIANGDONG HOLDING GROUP      6.90      03/27/19    CNY     20.12
JIANGDONG HOLDING GROUP      7.14      04/24/21    CNY     61.54
JIANGDONG HOLDING GROUP      7.14      04/24/21    CNY     61.59
JIANGMEN BINJIANG CONST      6.60      02/28/20    CNY     37.93
JIANGMEN BINJIANG CONST      6.60      02/28/20    CNY     40.50
JIANGMEN NEW HI-TECH IN      7.39      11/04/20    CNY     41.40
JIANGSU FURUDONGHAI DEV      7.09      09/13/20    CNY     40.00
JIANGSU FURUDONGHAI DEV      7.09      09/13/20    CNY     40.88
JIANGSU HANRUI INVESTME      8.16      03/01/19    CNY     19.99
JIANGSU HUAJING ASSETS       6.00      05/16/20    CNY     40.30
JIANGSU HUAJING ASSETS       6.00      05/16/20    CNY     40.35
JIANGSU JINGUAN INVESTM      6.40      01/28/19    CNY     25.00
JIANGSU JINGUAN INVESTM      6.40      01/28/19    CNY     25.02
JIANGSU JINGUAN INVESTM      7.90      04/08/21    CNY     60.00
JIANGSU JINGUAN INVESTM      7.90      04/08/21    CNY     61.18
JIANGSU JINTAN GUOFA IN      6.85      05/30/21    CNY     61.87
JIANGSU JINTAN GUOFA IN      6.85      05/30/21    CNY     62.03
JIANGSU JURONG FUDI BIO      8.70      04/26/19    CNY     40.29
JIANGSU LIANYUN DEVELOP      6.10      06/19/19    CNY     20.02
JIANGSU LIANYUN DEVELOP      6.10      06/19/19    CNY     20.05
JIANGSU NANTONG NO2 CON      8.10      07/10/21    CNY     59.64
JIANGSU NEWHEADLINE DEV      7.00      08/27/20    CNY     40.48
JIANGSU NEWHEADLINE DEV      7.00      08/27/20    CNY     40.51
JIANGSU SUHAI INVESTMEN      7.20      11/07/19    CNY     20.20
JIANGSU SUHAI INVESTMEN      7.20      11/07/19    CNY     20.34
JIANGSU SUHAI INVESTMEN      7.28      05/29/21    CNY     60.88
JIANGSU SUHAI INVESTMEN      7.28      05/29/21    CNY     61.64
JIANGSU TAICANG PORT DE      7.66      05/16/19    CNY     20.25
JIANGSU TAICANG PORT DE      7.40      04/28/21    CNY     60.73
JIANGSU TAICANG PORT DE      7.40      04/28/21    CNY     61.92
JIANGSU WANGTAO INVESTM      6.82      09/15/20    CNY     51.10
JIANGSU WANGTAO INVESTM      6.82      09/15/20    CNY     51.17
JIANGSU WUZHONG ECONOMI      5.49      11/19/21    CNY     61.06
JIANGSU WUZHONG ECONOMI      5.49      11/19/21    CNY     61.12
JIANGSU XISHAN ECONOMIC      6.99      11/01/19    CNY     20.14
JIANGSU XISHAN ECONOMIC      6.99      11/01/19    CNY     20.14
JIANGSU YIXING ECONOMIC      7.69      04/18/21    CNY     60.74
JIANGSU YIXING ECONOMIC      7.69      04/18/21    CNY     61.04
JIANGSU ZHANGJIAGANG EC      6.98      11/16/19    CNY     20.50
JIANGSU ZHUFU INDUSTRIA      4.93      12/29/20    CNY     69.27
JIANGXI HEJI INVESTMENT      8.00      09/04/19    CNY     20.16
JIANGXI HEJI INVESTMENT      8.00      09/04/19    CNY     20.34
JIANGXI PINGXIANG CHANG      8.18      05/22/21    CNY     61.59
JIANGXI PINGXIANG CHANG      8.18      05/22/21    CNY     62.63
JIANGXI PROVINCE SITONG      8.20      04/18/21    CNY     60.43
JIANGXI PROVINCE SITONG      8.20      04/18/21    CNY     61.17
JIANGYIN CITY CONSTRUCT      7.20      06/11/19    CNY     20.19
JIANGYIN GAOXIN DISTRIC      6.60      02/27/20    CNY     40.27
JIANGYIN LINGANG NEW CI      7.10      11/07/20    CNY     40.80
JIANGYIN LINGANG NEW CI      7.10      11/07/20    CNY     40.88
JIANHU COUNTY DEVELOPME      7.29      09/25/21    CNY     61.17
JIANHU COUNTY DEVELOPME      7.29      09/25/21    CNY     61.42
JIANHU URBAN CONSTRUCTI      6.50      02/22/20    CNY     40.44
JIASHAN ECONOMIC DEVELO      7.05      12/03/19    CNY     20.39
JIASHAN ECONOMIC DEVELO      7.05      12/03/19    CNY     20.40
JIASHAN STATE-OWNED ASS      6.80      06/06/19    CNY     20.16
JIAXING CITY CULTURE MI      8.16      03/08/19    CNY     20.11
JIAXING ECONOMIC&TECHNO      6.78      06/14/19    CNY     20.15
JIAXING ECONOMIC&TECHNO      6.78      06/14/19    CNY     20.18
JIAXING ECONOMIC&TECHNO      7.89      03/05/21    CNY     60.87
JIAXING ECONOMIC&TECHNO      7.89      03/05/21    CNY     62.15
JIAXING NANHU INVESTMEN      7.45      02/26/21    CNY     61.91
JIAYUGUAN CITY INFRASTR      7.83      09/23/21    CNY     61.89
JIAYUGUAN CITY INFRASTR      7.83      09/23/21    CNY     61.92
JIEYANGSHI CHENGSHI TOU      6.55      08/27/21    CNY     62.04
JILIN CITY CONSTRUCTION      6.34      02/26/20    CNY     40.01
JILIN CITY CONSTRUCTION      6.34      02/26/20    CNY     40.23
JILIN LIYUAN PRECISION       7.00      09/22/19    CNY     16.00
JILIN RAILWAY INVESTMEN      7.18      03/04/21    CNY     61.22
JINAN CITY CONSTRUCTION      6.80      03/20/21    CNY     61.90
JINAN CITY CONSTRUCTION      6.80      03/20/21    CNY     62.06
JINAN HI-TECH HOLDING G      6.38      06/19/21    CNY     62.08
JINAN XIAOQINGHE DEVELO      7.15      09/05/19    CNY     20.27
JINCHANG CONSTRUCTION I      6.79      12/21/22    CNY     53.67
JINCHENG CITY STATE OWN      4.99      11/11/21    CNY     58.10
JINCHENG CITY STATE OWN      4.99      11/11/21    CNY     60.50
JINGDEZHEN STATE-OWNED       6.59      06/25/20    CNY     40.39
JINGDEZHEN STATE-OWNED       6.59      06/25/20    CNY     40.53
JINGHONG STATE-OWNED AS      8.08      05/23/21    CNY     55.80
JINGHONG STATE-OWNED AS      8.08      05/23/21    CNY     60.57
JINGJIANG HARBOUR GROUP      7.30      08/05/21    CNY     61.28
JINGJIANG HARBOUR GROUP      7.30      08/05/21    CNY     61.77
JINGMEN CITY CONSTRUCTI      7.00      10/17/20    CNY     41.29
JINGMEN CITY CONSTRUCTI      6.85      07/09/22    CNY     60.95
JINGMEN CITY CONSTRUCTI      6.85      07/09/22    CNY     62.73
JINGZHOU ECONOMIC TECHN      8.20      12/09/20    CNY     41.08
JINGZHOU ECONOMIC TECHN      8.20      12/09/20    CNY     41.17
JINGZHOU URBAN CONSTRUC      7.98      04/24/19    CNY     20.24
JINHU COUNTY STATE-OWNE      7.75      08/25/21    CNY     61.51
JINHU COUNTY STATE-OWNE      7.75      08/25/21    CNY     62.77
JINSHAN STATE-OWNED ASS      6.65      11/27/19    CNY     20.47
JINZHONG CITY PUBLIC IN      6.50      03/18/20    CNY     40.10
JINZHONG CITY PUBLIC IN      6.50      03/18/20    CNY     40.52
JINZHOU CITY INVESTMENT      7.08      06/13/19    CNY     20.07
JINZHOU CITY INVESTMENT      7.08      06/13/19    CNY     20.09
JINZHOU CITY INVESTMENT      8.50      12/27/20    CNY     41.48
JINZHOU CITY INVESTMENT      6.44      08/18/21    CNY     60.28
JINZHOU CITY INVESTMENT      6.44      08/18/21    CNY     61.35
JINZHOU CITY INVESTMENT      8.50      12/27/20    CNY     61.95
JINZHOU HUAXING INVESTM      8.38      02/25/21    CNY     61.57
JINZHOU HUAXING INVESTM      9.10      01/21/21    CNY     61.75
JIUJIANG CITY CONSTRUCT      8.49      02/23/19    CNY     20.09
JIUJIANG STATE-OWNED AS      6.68      03/07/20    CNY     40.65
JIUQUAN ECONOMIC DEVELO      7.40      02/26/21    CNY     60.96
KAIFENG DEVELOPMENT INV      6.47      07/11/19    CNY     20.03
KANGMEI PHARMACEUTICAL       5.47      09/15/22    CNY     49.55
KANGMEI PHARMACEUTICAL       5.29      08/16/22    CNY     59.62
KANGMEI PHARMACEUTICAL       5.20      07/17/22    CNY     64.82
KANGMEI PHARMACEUTICAL       6.10      03/28/21    CNY     74.81
KASHGAR SHENKA INVESTME      7.08      07/07/20    CNY     50.10
KASHGAR SHENKA INVESTME      7.08      07/07/20    CNY     50.77
KASHI URBAN CONSTRUCTIO      7.18      11/27/19    CNY     20.28
KASHI URBAN CONSTRUCTIO      7.18      11/27/19    CNY     40.15
KUERLE CITY CONSTRUCTIO      6.99      05/20/20    CNY     50.88
KUNMING DIANCHI INVESTM      6.50      02/01/20    CNY     40.21
KUNMING DIANCHI INVESTM      6.50      02/01/20    CNY     40.35
KUNMING DONGJUN REAL ES      4.50      11/02/21    CNY     73.36
KUNMING EXPRESSWAY CONS      7.50      01/21/20    CNY     70.42
KUNMING INDUSTRIAL DEVE      6.46      10/23/19    CNY     20.18
KUNMING INDUSTRIAL DEVE      6.46      10/23/19    CNY     20.19
KUNSHAN CHUANGYE HOLDIN      6.28      11/07/19    CNY     20.10
KUNSHAN CHUANGYE HOLDIN      6.28      11/07/19    CNY     20.38
KUNSHAN COMMUNICATION D      6.95      05/22/21    CNY     61.99
KUNSHAN COMMUNICATION D      6.95      05/22/21    CNY     62.97
KUNSHAN HIGH TECHNOLOGY      7.10      03/26/21    CNY     60.99
KUNSHAN HIGH TECHNOLOGY      7.10      03/26/21    CNY     62.20
LAIWU CITY ECONOMIC DEV      7.08      02/28/21    CNY     61.63
LAIWU CITY ECONOMIC DEV      7.08      02/28/21    CNY     61.79
LANZHOU NATIONAL CAPITA      6.32      09/10/21    CNY     59.41
LANZHOU NATIONAL CAPITA      6.32      09/10/21    CNY     59.42
LEIYANG CITY AND RURAL       7.80      04/10/22    CNY     74.32
LEQING CITY STATE OWNED      6.50      06/29/19    CNY     20.10
LEQING CITY STATE OWNED      6.50      06/29/19    CNY     20.21
LEQING CITY STATE OWNED      5.99      10/20/21    CNY     60.00
LEQING CITY STATE OWNED      5.99      10/20/21    CNY     61.38
LESHAN STATE-OWNED ASSE      5.68      10/22/21    CNY     60.64
LESHAN STATE-OWNED ASSE      5.68      10/22/21    CNY     61.20
LIANYUNGANG TRANSPORT G      5.47      11/17/21    CNY     59.57
LIANYUNGANG TRANSPORT G      5.47      11/17/21    CNY     60.08
LIAONING COASTAL ECONOM      8.90      04/01/21    CNY     11.65
LIAONING COASTAL ECONOM      8.90      04/01/21    CNY     11.73
LIAOYUAN STATE-OWNED AS      8.17      03/13/19    CNY     20.00
LIAOYUAN STATE-OWNED AS      8.17      03/13/19    CNY     20.03
LILING LUJIANG INVESTME      7.18      09/05/21    CNY     60.85
LILING LUJIANG INVESTME      7.18      09/05/21    CNY     61.08
LILING LUJIANG INVESTME      8.10      05/22/21    CNY     61.33
LINCANG STATE-OWNED ASS      6.58      04/11/20    CNY     40.27
LINFEN CITY INVESTMENT       6.20      05/23/20    CNY     40.35
LINFEN CITY INVESTMENT       6.20      05/23/20    CNY     40.52
LINFEN CITY INVESTMENT       7.23      02/22/19    CNY     50.12
LINFEN CITY INVESTMENT       7.23      02/22/19    CNY     50.13
LINFEN YAODU DISTRICT I      6.99      09/27/20    CNY     40.00
LINFEN YAODU DISTRICT I      6.99      09/27/20    CNY     40.20
LINHAI CITY INFRASTRUCT      6.30      03/21/20    CNY     40.12
LINHAI CITY INFRASTRUCT      6.30      03/21/20    CNY     40.26
LINYI ECONOMIC DEVELOPM      8.26      09/24/19    CNY     20.34
LINZHOU ECONOMIC & TECH      8.30      04/25/20    CNY     51.01
LINZHOU ECONOMIC & TECH      8.30      04/25/20    CNY     51.03
LISHUI CITY CONSTRUCTIO      6.00      05/23/20    CNY     40.24
LISHUI CITY CONSTRUCTIO      6.00      05/23/20    CNY     40.30
LIUYANG URBAN CONSTRUCT      6.98      08/22/21    CNY     61.63
LIUYANG URBAN CONSTRUCT      6.98      08/22/21    CNY     62.16
LIUZHOU CITY INVESTMENT      7.18      12/31/22    CNY     61.90
LIUZHOU CITY INVESTMENT      7.18      12/31/22    CNY     62.57
LIUZHOU DONGCHENG INVES      8.30      02/15/19    CNY     20.06
LIUZHOU DONGCHENG INVES      8.30      02/15/19    CNY     20.20
LIUZHOU DONGCHENG INVES      7.40      10/29/20    CNY     41.29
LIUZHOU DONGCHENG INVES      7.40      10/29/20    CNY     41.37
LIUZHOU INVESTMENT HOLD      6.98      08/15/19    CNY     20.30
LIYANG CITY CONSTRUCTIO      6.20      03/08/20    CNY     40.29
LIYANG KUNLUN URBAN CON      5.90      10/24/21    CNY     61.08
LIYANG KUNLUN URBAN CON      5.90      10/24/21    CNY     61.18
LONGHAI STATE-OWNED ASS      6.58      08/15/21    CNY     61.19
LOUDI CITY CONSTRUCTION      7.95      04/15/21    CNY     62.19
LOUDI CITY CONSTRUCTION      7.95      04/15/21    CNY     62.30
LOUDI TIDU INVESTMENT D      7.18      08/27/21    CNY     61.41
LUOHE CITY CONSTRUCTION      6.99      10/30/19    CNY     20.36
LUOHE CITY CONSTRUCTION      6.99      10/30/19    CNY     40.38
LUOHE CITY CONSTRUCTION      5.25      09/11/20    CNY     70.41
MA'ANSHAN CIHU HIGH TEC      6.85      09/09/21    CNY     60.78
MA'ANSHAN CIHU HIGH TEC      6.85      09/09/21    CNY     61.96
MAANSHAN ECONOMIC TECHN      7.10      12/20/19    CNY     20.30
MEISHAN CITY ASSET OPER      7.84      02/26/21    CNY     61.90
MEISHAN HONGDA CONSTRUC      6.56      06/19/20    CNY     40.54
MEIZHOU KANGDA HIGHWAY       6.95      09/10/20    CNY     40.70
MEIZHOU KANGDA HIGHWAY       6.95      09/10/20    CNY     41.13
MIANYANG INVESTMENT HOL      7.70      03/26/19    CNY     40.21
MIANYANG INVESTMENT HOL      7.70      03/26/19    CNY     40.22
MIANYANG SCIENCE TECHNO      7.16      05/15/19    CNY     20.07
MUDANJIANG STATE-OWNED       7.70      04/14/21    CNY     61.11
MUDANJIANG STATE-OWNED       7.70      04/14/21    CNY     61.12
NANCHANG CITY CONSTRUCT      6.19      02/20/20    CNY     40.40
NANCHANG CITY CONSTRUCT      6.19      02/20/20    CNY     40.48
NANCHANG COUNTY URBAN C      6.50      07/17/19    CNY     25.15
NANCHANG COUNTY URBAN C      6.50      07/17/19    CNY     25.20
NANCHANG ECONOMY TECHNO      6.88      01/09/20    CNY     40.35
NANCHANG MUNICIPAL PUBL      5.88      02/25/20    CNY     40.43
NANCHANG MUNICIPAL PUBL      5.88      02/25/20    CNY     40.49
NANCHANG WATER CONSERVA      6.28      06/21/20    CNY     40.70
NANCHANG WATER CONSERVA      6.28      06/21/20    CNY     40.81
NANCHONG ECONOMIC DEVEL      8.16      04/26/19    CNY     20.11
NANCHONG ECONOMIC DEVEL      8.28      04/21/21    CNY     61.53
NANCHONG ECONOMIC DEVEL      8.28      04/21/21    CNY     61.55
NANJING JIANGBEI NEW AR      6.94      09/07/19    CNY     20.26
NANJING JIANGBEI NEW AR      6.94      09/07/19    CNY     20.30
NANJING JIANGNING SCIEN      7.29      04/28/19    CNY     20.11
NANJING LISHUI ECONOMIC      6.27      09/22/21    CNY     61.94
NANJING LISHUI ECONOMIC      6.27      09/22/21    CNY     61.99
NANJING LISHUI URBAN CO      5.80      05/29/20    CNY     40.37
NANJING PUKOU ECONOMIC       7.10      10/08/19    CNY     20.30
NANJING PUKOU ECONOMIC       7.10      10/08/19    CNY     20.36
NANJING STATE OWNED ASS      5.40      03/06/20    CNY     40.20
NANJING STATE OWNED ASS      5.40      03/06/20    CNY     40.38
NANJING STATE OWNED ASS      5.60      03/06/23    CNY     72.12
NANJING STATE OWNED ASS      5.60      03/06/23    CNY     72.32
NANJING TANGSHAN CONSTR      6.80      06/30/21    CNY     61.25
NANJING TANGSHAN CONSTR      6.80      06/30/21    CNY     61.93
NANJING XINGANG DEVELOP      6.80      01/08/20    CNY     40.50
NANJING XINGANG DEVELOP      6.80      01/08/20    CNY     40.53
NANNING LVGANG CONSTRUC      7.30      06/27/21    CNY     60.86
NANNING LVGANG CONSTRUC      7.30      06/27/21    CNY     61.93
NANPING CITY WUYI NEW D      6.70      08/06/20    CNY     40.90
NANTONG CHONGCHUAN URBA      7.15      04/18/21    CNY     61.29
NANTONG CHONGCHUAN URBA      7.15      04/18/21    CNY     61.76
NANTONG CITY GANGZHA DI      7.15      01/09/20    CNY     39.80
NANTONG CITY GANGZHA DI      7.15      01/09/20    CNY     40.59
NANTONG CITY TONGZHOU D      6.80      05/28/19    CNY     20.09
NANTONG CITY TONGZHOU D      6.80      05/28/19    CNY     20.09
NANTONG ECONOMIC & TECH      5.80      05/17/20    CNY     40.25
NANTONG ECONOMIC & TECH      5.80      05/17/20    CNY     40.46
NANYANG INVESTMENT GROU      7.05      10/24/20    CNY     40.90
NANYANG INVESTMENT GROU      7.05      10/24/20    CNY     41.49
NEIJIANG INVESTMENT HOL      7.99      04/24/21    CNY     61.89
NEIJIANG INVESTMENT HOL      7.99      04/24/21    CNY     61.97
NINGBO CITY HAISHU GUAN      7.75      03/06/21    CNY     62.34
NINGBO CITY HAISHU GUAN      7.75      03/06/21    CNY     62.35
NINGBO CITY ZHENHAI INV      5.85      12/04/21    CNY     61.37
NINGBO CITY ZHENHAI INV      5.85      12/04/21    CNY     61.64
NINGBO EASTERN NEW TOWN      6.45      01/21/20    CNY     40.44
NINGBO ECONOMIC & TECHN      7.09      04/21/21    CNY     61.32
NINGBO ECONOMIC & TECHN      7.09      04/21/21    CNY     61.33
NINGBO SHUNNONG GROUP C      7.20      10/16/19    CNY     20.27
NINGBO YINCHENG GROUP C      6.50      03/18/20    CNY     40.50
NINGBO YINCHENG GROUP C      6.50      03/18/20    CNY     40.59
NINGGUO CITY STATE OWNE      8.70      04/28/21    CNY     61.84
NINGGUO CITY STATE OWNE      8.70      04/28/21    CNY     62.69
NINGHAI COUNTY URBAN IN      8.00      01/02/21    CNY     40.81
NINGHAI COUNTY URBAN IN      8.00      01/02/21    CNY     41.77
NINGHAI COUNTY URBAN IN      7.99      04/16/21    CNY     61.10
NINGHAI COUNTY URBAN IN      7.99      04/16/21    CNY     62.12
NINGXIANG ECONOMIC TECH      8.20      04/16/21    CNY     62.29
NINGXIANG ECONOMIC TECH      8.20      04/16/21    CNY     62.70
PANZHIHUA STATE OWNED A      7.60      03/05/21    CNY     60.68
PANZHIHUA STATE OWNED A      7.60      03/05/21    CNY     62.19
PEIXIAN STATE-OWNED ASS      7.20      12/06/19    CNY     20.28
PEIXIAN STATE-OWNED ASS      7.20      12/06/19    CNY     20.29
PINGDINGSHAN DEVELOPMEN      7.86      05/08/19    CNY     20.00
PINGDINGSHAN DEVELOPMEN      7.86      05/08/19    CNY     20.18
PINGHU CITY INVESTMENT       7.20      09/18/19    CNY     20.28
PINGHU ECONOMIC DEVELOP      7.99      04/17/21    CNY     61.02
PINGHU ECONOMIC DEVELOP      7.99      04/17/21    CNY     61.04
PINGLIANG CHENGXIANG CO      7.10      09/17/20    CNY     41.08
PINGTAN COMPOSITE EXPER      6.58      03/15/20    CNY     40.44
PINGTAN COMPOSITE EXPER      6.58      03/15/20    CNY     40.62
PINGXIANG URBAN CONSTRU      6.89      12/10/19    CNY     19.99
PINGXIANG URBAN CONSTRU      6.89      12/10/19    CNY     40.12
PIZHOU CITY HENGRUN INV      6.46      12/05/21    CNY     61.12
PIZHOU CITY HENGRUN INV      6.46      12/05/21    CNY     61.72
PIZHOU RUNCHENG ASSET O      7.55      09/25/19    CNY     20.35
PIZHOU RUNCHENG ASSET O      7.88      04/16/21    CNY     61.98
PIZHOU RUNCHENG ASSET O      7.88      04/16/21    CNY     62.09
PUER CITY STATE OWNED A      7.38      06/20/19    CNY     20.11
PUYANG INVESTMENT GROUP      8.00      12/11/20    CNY     41.01
PUYANG INVESTMENT GROUP      8.00      12/11/20    CNY     41.02
QIANAN URBAN CONSTRUCTI      7.19      08/11/21    CNY     62.10
QIANAN URBAN CONSTRUCTI      7.19      08/11/21    CNY     62.11
QIANAN URBAN CONSTRUCTI      8.88      01/23/21    CNY     62.44
QIANAN URBAN CONSTRUCTI      8.88      01/23/21    CNY     62.45
QIANDONG NANZHOU DEVELO      8.80      04/27/19    CNY     20.09
QIANDONGNAN TRANSPORTAT      5.79      12/21/22    CNY     74.31
QIANDONGNANZHOU KAIHONG      7.80      10/30/19    CNY     19.68
QIANJIANG URBAN CONSTRU      8.38      04/22/21    CNY     61.00
QIANJIANG URBAN CONSTRU      8.38      04/22/21    CNY     61.25
QIANXI NANZHOU HONGSHEN      6.99      11/22/19    CNY     20.14
QIDONG STATE-OWNED ASSE      7.30      11/20/22    CNY     62.24
QIDONG STATE-OWNED ASSE      7.30      11/20/22    CNY     62.60
QIDONG URBAN CONSTRUCTI      7.90      04/28/21    CNY     62.32
QIDONG URBAN CONSTRUCTI      8.20      04/04/21    CNY     62.39
QINGDAO CHINA PROSPERIT      7.30      04/18/19    CNY     20.11
QINGDAO CITY CONSTRUCTI      6.89      02/16/19    CNY     20.05
QINGDAO CITY CONSTRUCTI      6.89      02/16/19    CNY     20.07
QINGDAO CONSON DEVELOPM      6.40      12/12/22    CNY     62.72
QINGDAO HICREAT DEVELOP      6.88      04/25/21    CNY     61.77
QINGDAO HICREAT DEVELOP      6.88      04/25/21    CNY     61.95
QINGDAO JIAOZHOU CITY D      6.59      01/25/20    CNY     40.61
QINGDAO JIAOZHOU CITY D      6.20      08/21/21    CNY     61.07
QINGDAO JIAOZHOU CITY D      6.20      08/21/21    CNY     61.08
QINGDAO JIAOZHOUWAN DEV      6.33      09/18/21    CNY     61.69
QINGDAO JIAOZHOUWAN DEV      6.33      09/18/21    CNY     62.00
QINGDAO JIMO CITY TOURI      5.47      11/17/21    CNY     61.05
QINGDAO JIMO CITY TOURI      5.47      11/17/21    CNY     61.22
QINGDAO JIMO CITY URBAN      8.10      12/17/19    CNY     25.86
QINGDAO JIMO CITY URBAN      8.10      12/17/19    CNY     25.87
QINGDAO LAIXI CITY ASSE      7.50      03/06/21    CNY     61.13
QINGDAO LAIXI CITY ASSE      7.50      03/06/21    CNY     62.75
QINGYANG CITY ECONOMIC       7.98      04/16/21    CNY     61.03
QINGYUAN TRANSPORTATION      8.20      12/19/20    CNY     41.75
QINGZHOU HONGYUAN PUBLI      6.50      05/22/19    CNY      9.98
QINGZHOU HONGYUAN PUBLI      6.50      05/22/19    CNY     10.01
QINGZHOU HONGYUAN PUBLI      7.35      10/19/19    CNY     20.27
QINGZHOU HONGYUAN PUBLI      7.35      10/19/19    CNY     20.33
QINGZHOU HONGYUAN PUBLI      7.59      05/29/21    CNY     62.26
QINHUANGDAO DEVELOPMENT      8.00      12/17/20    CNY     41.01
QINHUANGDAO DEVELOPMENT      8.00      12/17/20    CNY     41.02
QINHUANGDAO DEVELOPMENT      8.45      04/18/21    CNY     61.65
QINHUANGDAO DEVELOPMENT      8.45      04/18/21    CNY     61.66
QINZHOU BINHAI NEW CITY      7.00      08/27/20    CNY     41.06
QINZHOU BINHAI NEW CITY      6.99      07/07/21    CNY     60.92
QINZHOU BINHAI NEW CITY      6.99      07/07/21    CNY     62.01
QINZHOU CITY DEVELOPMEN      7.10      10/16/19    CNY     40.50
QINZHOU CITY DEVELOPMEN      7.10      10/16/19    CNY     40.71
QUJING DEVELOPMENT INVE      7.25      09/06/19    CNY     20.24
QUJING DEVELOPMENT INVE      7.25      09/06/19    CNY     20.26
QUJING DEVELOPMENT INVE      7.48      04/28/21    CNY     61.70
QUJING DEVELOPMENT INVE      7.48      04/28/21    CNY     61.96
QUJING ECO TECH DEVELOP      7.48      07/21/21    CNY     60.48
QUZHOU STATE OWNED ASSE      7.20      04/21/21    CNY     62.24
QUZHOU STATE OWNED ASSE      7.20      04/21/21    CNY     62.27
RENHUAI CITY DEVELOPMEN      8.09      05/16/21    CNY     62.33
RENHUAI CITY DEVELOPMEN      8.09      05/16/21    CNY     62.34
RIGHT WAY REAL ESTATE D      7.30      07/15/21    CNY     69.00
RIZHAO CITY CONSTRUCTIO      5.80      06/06/20    CNY     40.40
RUCHENG COUNTY HYDROPOW      6.65      04/25/20    CNY     70.83
RUDONG COUNTY DONGTAI S      7.45      09/24/19    CNY     20.32
RUDONG COUNTY DONGTAI S      7.45      09/24/19    CNY     20.35
RUDONG COUNTY DONGTAI S      6.99      06/20/21    CNY     61.54
RUDONG COUNTY DONGTAI S      6.99      06/20/21    CNY     61.94
RUDONG COUNTY JINXIN TR      8.08      03/03/21    CNY     61.76
RUDONG COUNTY JINXIN TR      8.08      03/03/21    CNY     61.77
RUGAO CITY ECONOMIC TRA      8.30      01/22/21    CNY     62.09
RUGAO COMMUNICATIONS CO      8.51      01/26/19    CNY     25.04
RUGAO COMMUNICATIONS CO      6.70      02/01/20    CNY     40.19
RUGAO COMMUNICATIONS CO      6.70      02/01/20    CNY     40.45
RUGAO YANJIANG DEVELOPM      8.60      01/24/21    CNY     61.83
RUGAO YANJIANG DEVELOPM      8.60      01/24/21    CNY     62.31
RUIAN STATE OWNED ASSET      6.93      11/26/19    CNY     20.08
RUIAN STATE OWNED ASSET      6.93      11/26/19    CNY     20.08
RUZHOU CITY XINYUAN INV      6.30      09/16/21    CNY     74.77
SANMEN COUNTY STATE-OWN      6.85      10/29/21    CNY     60.30
SANMEN COUNTY STATE-OWN      6.85      10/29/21    CNY     60.51
SHAANXI ANKANG HIGH TEC      8.78      09/17/21    CNY     61.95
SHAANXI ANKANG HIGH TEC      8.78      09/17/21    CNY     63.06
SHAANXI XIXIAN NEW AREA      6.85      08/15/21    CNY     60.82
SHAANXI XIXIAN NEW AREA      6.89      01/05/22    CNY     61.21
SHANDONG BOXING COUNTY       8.00      12/22/21    CNY     62.23
SHANDONG BOXING COUNTY       8.00      12/22/21    CNY     62.88
SHANDONG CENTURY SUNSHI      8.19      07/21/21    CNY     61.65
SHANDONG CENTURY SUNSHI      8.19      07/21/21    CNY     62.66
SHANDONG HONGHE HOLDING      8.50      06/23/21    CNY     57.27
SHANDONG HONGHE HOLDING      8.50      06/23/21    CNY     62.39
SHANDONG PUBLIC HOLDING      7.18      01/22/20    CNY     40.39
SHANDONG RENCHENG RONGX      7.30      10/18/20    CNY     41.16
SHANDONG RENCHENG RONGX      7.30      10/18/20    CNY     41.25
SHANDONG SNTON GROUP CO      5.18      09/08/21    CNY     45.00
SHANDONG TAIFENG HOLDIN      5.80      03/12/20    CNY     39.00
SHANDONG TAIFENG HOLDIN      5.80      03/12/20    CNY     40.04
SHANDONG WEISHANHU MINI      6.15      03/13/20    CNY     68.95
SHANDONG YUHUANG CHEMIC      6.00      11/21/21    CNY     71.00
SHANGHAI BUND GROUP DEV      6.35      04/24/20    CNY     40.50
SHANGHAI BUND GROUP DEV      6.35      04/24/20    CNY     40.68
SHANGHAI CAOHEJING HI-T      7.24      04/09/21    CNY     62.23
SHANGHAI CAOHEJING HI-T      7.24      04/09/21    CNY     62.25
SHANGHAI CHENJIAZHEN CO      7.18      11/06/19    CNY     25.54
SHANGHAI CHONGMING CONS      6.40      06/13/20    CNY     50.90
SHANGHAI CHONGMING CONS      6.40      06/13/20    CNY     51.01
SHANGHAI FENGXIAN NANQI      6.25      03/05/20    CNY     40.50
SHANGHAI JIADING ROAD C      6.80      04/23/21    CNY     61.30
SHANGHAI JIADING ROAD C      6.80      04/23/21    CNY     61.82
SHANGHAI JINSHAN URBAN       6.60      12/21/19    CNY     20.36
SHANGHAI JINSHAN URBAN       6.60      12/21/19    CNY     20.39
SHANGHAI LUJIAZUI DEVEL      5.79      02/25/19    CNY     40.06
SHANGHAI LUJIAZUI DEVEL      5.79      02/25/19    CNY     40.08
SHANGHAI LUJIAZUI DEVEL      5.98      03/11/19    CNY     40.08
SHANGHAI LUJIAZUI DEVEL      5.98      03/11/19    CNY     40.20
SHANGHAI MINHANG URBAN       6.48      10/23/19    CNY     20.21
SHANGHAI MINHANG URBAN       6.48      10/23/19    CNY     20.38
SHANGHAI MUNICIPAL INVE      4.63      07/30/19    CNY     20.10
SHANGHAI NANFANG GROUP       6.70      09/09/19    CNY     25.23
SHANGHAI NANFANG GROUP       6.70      09/09/19    CNY     25.29
SHANGHAI NANHUI URBAN C      6.04      08/20/21    CNY     61.70
SHANGHAI URBAN CONSTRUC      5.25      11/30/19    CNY     20.23
SHANGHAI YONGYE ENTERPR      6.84      05/21/20    CNY     51.06
SHANGLUO CITY CONSTRUCT      6.75      09/09/19    CNY     25.00
SHANGLUO CITY CONSTRUCT      6.75      09/09/19    CNY     25.29
SHANGLUO CITY CONSTRUCT      7.05      09/09/20    CNY     40.39
SHANGLUO CITY CONSTRUCT      7.05      09/09/20    CNY     41.00
SHANGQIU DEVELOPMENT IN      6.60      01/15/20    CNY     40.35
SHANTOU CITY CONSTRUCTI      8.57      03/23/22    CNY     63.33
SHANTOU CITY CONSTRUCTI      8.57      03/23/22    CNY     63.48
SHANTOU GARDEN GROUP CO      5.30      09/29/21    CNY     69.31
SHAOGUAN JINYE DEVELOPM      7.30      10/18/19    CNY     20.39
SHAOXING CHENGZHONGCUN       6.50      01/24/20    CNY     40.08
SHAOXING CITY INVESTMEN      6.40      11/09/19    CNY     20.21
SHAOXING CITY INVESTMEN      6.40      11/09/19    CNY     20.32
SHAOXING CITY KEQIAO DI      6.40      08/20/21    CNY     61.58
SHAOXING CITY KEQIAO DI      6.40      08/20/21    CNY     61.65
SHAOXING KEQIAO DISTRIC      6.30      02/26/19    CNY     25.08
SHAOXING KEQIAO ECONOMI      7.00      12/10/21    CNY     60.85
SHAOXING KEQIAO ECONOMI      7.00      12/10/21    CNY     62.02
SHAOXING PAOJIANG INDUS      6.90      10/31/19    CNY     20.25
SHAOXING PAOJIANG INDUS      6.98      05/29/21    CNY     61.20
SHAOXING PAOJIANG INDUS      6.98      05/29/21    CNY     61.57
SHAOXING SHANGYU COMMUN      6.70      09/11/19    CNY     20.26
SHAOXING SHANGYU HANGZH      6.95      10/11/20    CNY     41.09
SHAOXING SHANGYU URBAN       6.80      08/07/21    CNY     62.20
SHAOXING SHANGYU URBAN       6.80      08/07/21    CNY     62.64
SHAOYANG CITY CONSTRUCT      8.58      01/17/21    CNY     60.86
SHAOYANG CITY CONSTRUCT      6.12      08/27/20    CNY     69.90
SHENGZHOU INVESTMENT HO      7.60      07/17/21    CNY     62.94
SHENMU CITY STATE-OWNED      7.28      06/23/21    CNY     60.95
SHENMU CITY STATE-OWNED      7.28      06/23/21    CNY     61.02
SHENYANG SUJIATUN DISTR      6.40      06/20/20    CNY     38.72
SHENYANG SUJIATUN DISTR      6.40      06/20/20    CNY     40.52
SHENZHEN METRO GROUP CO      5.40      03/25/23    CNY     71.08
SHENZHEN METRO GROUP CO      5.40      03/25/23    CNY     71.90
SHIJIAZHUANG HUTUO NEW       5.28      12/24/25    CNY     70.78
SHIJIAZHUANG HUTUO NEW       5.28      12/24/25    CNY     72.09
SHIJIAZHUANG REAL ESTAT      5.65      05/15/20    CNY     40.33
SHIJIAZHUANG REAL ESTAT      5.65      05/15/20    CNY     40.47
SHIYAN CITY INFRASTRUCT      7.98      04/20/19    CNY     20.23
SHIYAN CITY INFRASTRUCT      6.88      10/11/20    CNY     41.05
SHIYAN CITY INFRASTRUCT      6.88      10/11/20    CNY     41.15
SHIYAN CITY INFRASTRUCT      6.58      08/20/21    CNY     60.75
SHIYAN CITY INFRASTRUCT      6.58      08/20/21    CNY     61.54
SHOUGUANG CITY CONSTRUC      7.10      10/18/20    CNY     40.47
SHOUGUANG CITY CONSTRUC      7.10      10/18/20    CNY     41.13
SHUANGLIU COUNTY WATER       7.40      02/26/20    CNY     50.30
SHUANGLIU COUNTY WATER       6.92      07/30/20    CNY     50.30
SHUANGLIU COUNTY WATER       7.40      02/26/20    CNY     50.74
SHUANGLIU COUNTY WATER       6.92      07/30/20    CNY     51.12
SHUANGLIU SHINE CHINE C      8.40      03/16/19    CNY     40.26
SHUANGLIU SHINE CHINE C      8.48      03/16/19    CNY     40.30
SHUANGLIU SHINE CHINE C      8.40      03/16/19    CNY     40.51
SHUANGYASHAN DADI CITY       6.55      12/25/19    CNY     20.35
SHUYANG JINGYUAN ASSET       6.50      12/03/19    CNY     20.29
SHUYANG JINGYUAN ASSET       6.50      12/03/19    CNY     20.29
SHUYANG JINGYUAN ASSET       7.39      04/14/21    CNY     61.57
SHUYANG JINGYUAN ASSET       7.39      04/14/21    CNY     61.85
SICHUAN CHENGDU ABA DEV      7.18      09/12/20    CNY     40.00
SICHUAN COAL INDUSTRY G      7.70      01/09/18    CNY     45.00
SICHUAN NAXING INDUSTRI      7.17      09/11/21    CNY     58.96
SIPING SITONG CITY INFR      7.25      04/29/19    CNY     70.49
SLENDER WEST LAKE TOURI      6.80      06/25/21    CNY     61.64
SLENDER WEST LAKE TOURI      6.80      06/25/21    CNY     61.95
SONGYUAN URBAN DEVELOPM      5.79      12/04/21    CNY     59.18
SONGYUAN URBAN DEVELOPM      5.79      12/04/21    CNY     59.44
SUINING CITY HEDONG DEV      8.36      04/17/21    CNY     61.55
SUINING CITY HEDONG DEV      8.36      04/17/21    CNY     61.57
SUINING COUNTY RUNQI IN      7.10      06/25/21    CNY     60.45
SUINING DEVELOPMENT INV      6.62      04/25/20    CNY     39.50
SUINING DEVELOPMENT INV      6.62      04/25/20    CNY     40.42
SUINING FUYUAN INDUSTRY      6.39      03/17/22    CNY     73.71
SUINING KAIDA INVESTMEN      8.69      04/21/21    CNY     61.56
SUIZHOU CITY URBAN CONS      7.18      09/02/21    CNY     60.50
SUIZHOU CITY URBAN CONS      7.18      09/02/21    CNY     61.09
SUIZHOU DEVELOPMENT INV      7.50      08/22/19    CNY     20.30
SUIZHOU DEVELOPMENT INV      7.50      08/22/19    CNY     20.34
SUIZHOU DEVELOPMENT INV      8.50      12/20/20    CNY     42.10
SUIZHOU DEVELOPMENT INV      8.50      12/20/20    CNY     42.11
SUIZHOU DEVELOPMENT INV      8.40      04/30/21    CNY     61.91
SUIZHOU DEVELOPMENT INV      8.40      04/30/21    CNY     62.73
SUNSHINE KAIDI NEW ENER      6.12      08/23/20    CNY     62.66
SUNSHINE KAIDI NEW ENER      6.12      08/23/20    CNY     70.40
SUQIAN CITY CONSTRUCTIO      6.88      10/29/20    CNY     40.90
SUQIAN CITY CONSTRUCTIO      6.88      10/29/20    CNY     40.97
SUQIAN ECONOMIC DEVELOP      7.50      03/26/19    CNY     20.15
SUQIAN WATER GROUP CO        6.55      12/04/19    CNY     20.34
SUZHOU CITY CONSTRUCTIO      7.45      03/12/19    CNY     20.09
SUZHOU CITY CONSTRUCTIO      6.40      04/17/20    CNY     40.54
SUZHOU CITY CONSTRUCTIO      6.40      04/17/20    CNY     40.62
SUZHOU FENHU INVESTMENT      7.49      02/28/21    CNY     61.45
SUZHOU FENHU INVESTMENT      7.49      02/28/21    CNY     61.47
SUZHOU INDUSTRIAL PARK       5.79      05/30/19    CNY     20.12
SUZHOU INDUSTRIAL PARK       5.79      05/30/19    CNY     20.19
SUZHOU NEW DISTRICT ECO      6.20      07/22/21    CNY     61.70
SUZHOU NEW DISTRICT ECO      6.20      07/22/21    CNY     61.70
SUZHOU URBAN CONSTRUCTI      5.79      10/25/19    CNY     20.24
SUZHOU URBAN CONSTRUCTI      5.79      10/25/19    CNY     20.24
SUZHOU WUJIANG COMMUNIC      6.80      10/31/20    CNY     41.25
SUZHOU WUJIANG COMMUNIC      6.80      10/31/20    CNY     41.47
SUZHOU XIANGCHENG URBAN      6.95      09/03/19    CNY     20.12
SUZHOU XIANGCHENG URBAN      6.95      09/03/19    CNY     20.31
SUZHOU XIANGCHENG URBAN      6.95      03/19/21    CNY     61.47
SUZHOU XIANGCHENG URBAN      6.95      03/19/21    CNY     61.78
TAIAN TAISHAN INVESTMEN      6.76      01/25/20    CNY     40.37
TAIAN TAISHAN INVESTMEN      6.76      01/25/20    CNY     40.45
TAICANG ASSETS MANAGEME      7.00      02/27/21    CNY     60.44
TAICANG HENGTONG INVEST      7.45      10/30/19    CNY     20.24
TAICANG URBAN CONSTRUCT      6.75      01/11/20    CNY     40.43
TAIXING CITY CHENGXING       8.30      12/12/20    CNY     41.55
TAIXING CITY CHENGXING       8.30      12/12/20    CNY     41.78
TAIYUAN ECONOMIC TECHNO      7.43      04/24/21    CNY     62.20
TAIYUAN ECONOMIC TECHNO      7.43      04/24/21    CNY     62.46
TAIYUAN HIGH-SPEED RAIL      6.50      10/30/20    CNY     41.23
TAIYUAN HIGH-SPEED RAIL      5.18      09/06/20    CNY     70.60
TAIYUAN LONGCHENG DEVEL      6.50      09/25/19    CNY     20.31
TAIYUAN LONGCHENG DEVEL      6.50      09/25/19    CNY     20.33
TAIYUAN STATE-OWNED INV      7.20      03/19/21    CNY     62.08
TAIYUAN STATE-OWNED INV      7.20      03/19/21    CNY     62.09
TAIZHOU CITY CONSTRUCTI      6.92      10/16/23    CNY     72.50
TAIZHOU CITY JIANGYAN D      8.50      04/23/20    CNY     50.86
TAIZHOU CITY JIANGYAN D      8.50      04/23/20    CNY     50.98
TAIZHOU CITY JIANGYAN U      7.10      09/03/20    CNY     40.26
TAIZHOU CITY JIANGYAN U      7.10      09/03/20    CNY     40.60
TAIZHOU CITY NEW BINJIA      7.60      03/05/21    CNY     61.05
TAIZHOU CITY NEW BINJIA      7.60      03/05/21    CNY     61.10
TAIZHOU HAILING ASSETS       8.52      03/21/19    CNY     20.11
TAIZHOU HAILING ASSETS       8.52      03/21/19    CNY     20.15
TAIZHOU INFRASTRUCTURE       6.53      07/11/21    CNY     61.40
TAIZHOU INFRASTRUCTURE       6.53      07/11/21    CNY     62.03
TAIZHOU JIANGYAN STATE       6.85      12/03/19    CNY     19.80
TAIZHOU JIANGYAN STATE       6.85      12/03/19    CNY     20.20
TAIZHOU JIAOJIANG STATE      7.46      09/13/20    CNY     41.51
TAIZHOU TRAFFIC INDUSTR      6.15      03/11/20    CNY     40.02
TAIZHOU TRAFFIC INDUSTR      6.15      03/11/20    CNY     40.47
TANGSHAN CAOFEIDIAN DEV      7.50      10/15/20    CNY     39.98
TIANJIN BAOXING INDUSTR      7.10      10/17/20    CNY     40.80
TIANJIN BAOXING INDUSTR      7.10      10/17/20    CNY     41.09
TIANJIN BEICHEN DISTRIC      7.00      04/21/21    CNY     61.20
TIANJIN BEICHEN DISTRIC      7.00      04/21/21    CNY     61.63
TIANJIN BEICHEN TECHNOL      6.87      08/20/21    CNY     61.01
TIANJIN BEICHEN TECHNOL      6.87      08/20/21    CNY     61.02
TIANJIN BINHAI NEW AREA      5.19      03/13/20    CNY     40.29
TIANJIN DONGLI CITY INF      6.05      06/19/20    CNY     40.07
TIANJIN ECO-CITY INVEST      6.76      08/14/19    CNY     20.13
TIANJIN ECONOMIC TECHNO      6.20      12/03/19    CNY     20.20
TIANJIN ECONOMIC TECHNO      6.20      12/03/19    CNY     20.20
TIANJIN ECONOMIC TECHNO      6.50      12/03/22    CNY     62.14
TIANJIN ECONOMIC TECHNO      6.50      12/03/22    CNY     62.44
TIANJIN GUANGCHENG INVE      7.45      07/24/21    CNY     59.81
TIANJIN GUANGCHENG INVE      7.45      07/24/21    CNY     59.92
TIANJIN GUANGCHENG INVE      6.97      02/22/23    CNY     68.92
TIANJIN GUANGCHENG INVE      6.97      02/22/23    CNY     68.94
TIANJIN HI-TECH INDUSTR      7.80      03/27/19    CNY     19.98
TIANJIN HI-TECH INDUSTR      7.80      03/27/19    CNY     20.09
TIANJIN HI-TECH INDUSTR      6.65      09/12/21    CNY     60.89
TIANJIN HUANCHENG URBAN      7.20      03/21/21    CNY     61.89
TIANJIN INFRASTRUCTURE       5.70      02/26/23    CNY     72.08
TIANJIN JINNAN CITY CON      6.95      06/18/19    CNY     20.13
TIANJIN JINNAN CITY CON      6.95      06/18/19    CNY     20.14
TIANJIN JINNAN CITY CON      6.50      06/03/21    CNY     61.49
TIANJIN LINGANG INVESTM      7.75      02/26/21    CNY     61.90
TIANJIN LINGANG INVESTM      7.75      02/26/21    CNY     62.04
TIANJIN NINGHE DISTRICT      7.00      05/30/21    CNY     60.65
TIANJIN NINGHE DISTRICT      7.00      05/30/21    CNY     62.04
TIANJIN REAL ESTATE TRU      8.59      03/13/21    CNY     60.37
TIANJIN REAL ESTATE TRU      8.59      03/13/21    CNY     61.31
TIANJIN RESIDENTIAL CON      8.00      12/19/20    CNY     40.72
TIANJIN TEDA CONSTRUCTI      6.89      04/27/20    CNY     40.63
TIANJIN WATER INVESTMEN      6.60      07/28/21    CNY     57.50
TIANJIN WATER INVESTMEN      6.60      07/28/21    CNY     59.39
TIANJIN WUQING STATE-OW      8.00      12/17/20    CNY     41.84
TIANJIN WUQING STATE-OW      8.00      12/17/20    CNY     41.87
TIANJIN WUQING STATE-OW      7.18      03/19/21    CNY     60.00
TIANJIN WUQING STATE-OW      7.18      03/19/21    CNY     61.76
TIANMEN CITY CONSTRUCTI      8.20      08/28/21    CNY     63.18
TIANMEN CITY CONSTRUCTI      8.20      08/28/21    CNY     63.19
TIANRUI GROUP CEMENT CO      8.00      02/04/21    CNY     74.61
TONGLING CONSTRUCTION I      6.98      08/26/20    CNY     40.34
TONGLING CONSTRUCTION I      6.98      08/26/20    CNY     40.74
TONGLU STATE-OWNED ASSE      8.09      04/18/21    CNY     61.54
TONGLU STATE-OWNED ASSE      8.09      04/18/21    CNY     62.39
TONGXIANG CITY CONSTRUC      6.10      05/16/20    CNY     40.43
TONGXIANG CITY CONSTRUC      6.10      05/16/20    CNY     40.59
TULUFAN DISTRICT STATE-      7.20      08/09/19    CNY     25.08
TULUFAN DISTRICT STATE-      7.20      08/09/19    CNY     25.29
URUMQI CITY CONSTRUCTIO      6.35      07/09/19    CNY     20.11
URUMQI CITY CONSTRUCTIO      6.35      07/09/19    CNY     20.14
URUMQI GAOXIN INVESTMEN      6.18      03/05/20    CNY     40.20
URUMQI GAOXIN INVESTMEN      6.18      03/05/20    CNY     40.53
VANZIP INVESTMENT GROUP      7.92      02/04/19    CNY     24.76
WAFANGDIAN STATE-OWNED       8.55      04/19/19    CNY     20.20
WEIFANG BINHAI INVESTME      6.16      04/16/21    CNY     55.35
WEIFANG DONGXIN CONSTRU      6.88      11/20/19    CNY     20.33
WEIFANG DONGXIN CONSTRU      6.88      11/20/19    CNY     20.48
WENLING CITY STATE OWNE      7.18      09/18/19    CNY     20.29
WENLING CITY STATE OWNE      7.18      09/18/19    CNY     20.35
WENZHOU ANJUFANG CITY D      7.65      04/24/19    CNY     20.20
WENZHOU ECONOMIC-TECHNO      6.49      01/15/20    CNY     40.37
WENZHOU ECONOMIC-TECHNO      6.49      01/15/20    CNY     40.41
WENZHOU HIGH-TECH INDUS      7.30      05/30/21    CNY     61.30
WENZHOU HIGH-TECH INDUS      7.95      03/21/21    CNY     61.70
WENZHOU HIGH-TECH INDUS      7.95      03/21/21    CNY     62.24
WENZHOU HIGH-TECH INDUS      7.30      05/30/21    CNY     62.62
WENZHOU LUCHENG CITY DE      5.58      11/03/21    CNY     59.38
WENZHOU LUCHENG CITY DE      5.58      11/03/21    CNY     59.39
WINTIME ENERGY CO LTD        7.50      03/30/19    CNY     35.00
WINTIME ENERGY CO LTD        7.50      07/07/19    CNY     35.50
WINTIME ENERGY CO LTD        7.50      05/19/19    CNY     36.00
WUHAI CITY CONSTRUCTION      8.19      04/21/21    CNY     62.42
WUHAN CHEDU CORP LTD         7.18      02/27/21    CNY     61.96
WUHAN CHEDU CORP LTD         7.18      02/27/21    CNY     61.97
WUHAN HUANPO DISTRICT U      6.43      09/17/21    CNY     61.72
WUHAN HUANPO DISTRICT U      6.43      09/17/21    CNY     62.06
WUHAN JIANGXIA URBAN CO      8.99      01/20/21    CNY     62.29
WUHAN METRO GROUP CO LT      5.70      02/04/20    CNY     40.00
WUHAN METRO GROUP CO LT      5.70      02/04/20    CNY     40.35
WUHAN REAL ESTATE DEVEL      5.90      03/22/19    CNY     25.10
WUHAN REAL ESTATE DEVEL      5.90      03/22/19    CNY     25.14
WUHAN URBAN CONSTRUCTIO      5.60      03/08/20    CNY     40.36
WUHU COUNTY CONSTRUCTIO      6.60      12/08/21    CNY     60.57
WUHU COUNTY CONSTRUCTIO      6.60      12/08/21    CNY     61.64
WUHU JINGHU CONSTRUCTIO      6.68      05/16/20    CNY     40.03
WUHU JIUJIANG CONSTRUCT      8.49      04/14/21    CNY     62.39
WUHU JIUJIANG CONSTRUCT      8.49      04/14/21    CNY     63.01
WUHU YIJU INVESTMENT GR      6.45      08/11/21    CNY     61.45
WUHU YIJU INVESTMENT GR      6.45      08/11/21    CNY     61.76
WUJIANG ECONOMIC TECHNO      6.88      12/27/19    CNY     20.52
WUJIANG ECONOMIC TECHNO      6.88      12/27/19    CNY     40.45
WUWEI CITY ECONOMY DEVE      8.20      12/09/20    CNY     40.91
WUWEI CITY ECONOMY DEVE      8.20      12/09/20    CNY     41.08
WUWEI CITY ECONOMY DEVE      8.20      04/24/21    CNY     58.72
WUWEI CITY ECONOMY DEVE      8.20      04/24/21    CNY     60.91
WUXI CONSTRUCTION AND D      6.60      09/17/19    CNY     20.25
WUXI CONSTRUCTION AND D      6.60      09/17/19    CNY     20.37
WUXI HUISHAN ECONOMIC D      6.03      04/22/19    CNY     25.13
WUXI MUNICIPAL DEVELOPM      6.10      10/11/20    CNY     41.01
WUXI TAIHU INTERNATIONA      7.60      09/17/19    CNY     20.30
WUXI TAIHU INTERNATIONA      7.60      09/17/19    CNY     20.39
WUXI XIDONG NEW TOWN CO      6.65      01/28/20    CNY     40.40
WUXI XIDONG NEW TOWN CO      6.65      01/28/20    CNY     40.41
WUZHONG URBAN RURAL CON      7.18      10/12/20    CNY     40.49
WUZHONG URBAN RURAL CON      7.18      10/12/20    CNY     40.50
WUZHOU DONGTAI STATE-OW      7.40      09/03/19    CNY     20.32
XIAMEN TORCH GROUP CO L      7.49      04/21/21    CNY     61.76
XIAMEN TORCH GROUP CO L      7.49      04/21/21    CNY     61.93
XIAMEN XINGLIN CONSTRUC      6.60      02/22/20    CNY     40.10
XIAMEN XINGLIN CONSTRUC      6.60      02/22/20    CNY     40.50
XI'AN AEROSPACE CITY IN      6.96      11/08/19    CNY     20.46
XIAN CHANBAHE DEVELOPME      6.89      08/03/19    CNY     20.19
XI'AN HI-TECH HOLDING C      5.70      02/26/19    CNY     25.03
XI'AN HI-TECH HOLDING C      5.70      02/26/19    CNY     25.06
XI'AN INTERNATIONAL HOR      6.20      10/21/21    CNY     59.72
XI'AN INTERNATIONAL HOR      6.20      10/21/21    CNY     59.94
XI'AN URBAN INDEMNIFICA      7.31      03/18/19    CNY     40.21
XI'AN URBAN INDEMNIFICA      7.31      03/18/19    CNY     40.22
XI'AN URBAN INDEMNIFICA      7.31      04/18/19    CNY     40.29
XI'AN URBAN INDEMNIFICA      7.31      04/18/19    CNY     40.30
XIANGSHAN COUNTRY STATE      7.95      04/25/21    CNY     62.50
XIANGSHAN COUNTRY STATE      7.95      04/25/21    CNY     62.60
XIANGTAN HI-TECH GROUP       6.90      01/15/20    CNY     40.04
XIANGTAN HI-TECH GROUP       6.90      01/15/20    CNY     40.24
XIANGTAN HI-TECH GROUP       8.16      02/25/21    CNY     60.53
XIANGTAN HI-TECH GROUP       8.16      02/25/21    CNY     61.28
XIANGTAN JIUHUA ECONOMI      7.15      10/15/20    CNY     39.49
XIANGTAN LIANGXING SOCI      7.89      04/23/21    CNY     62.10
XIANGTAN ZHENXIANG STAT      6.60      08/07/20    CNY     40.05
XIANGTAN ZHENXIANG STAT      6.60      08/07/20    CNY     40.65
XIANGYANG HIGH TECH STA      7.00      05/29/21    CNY     61.47
XIANGYANG HIGH TECH STA      7.00      05/29/21    CNY     61.59
XIANNING HIGH-TECH INVE      5.80      06/05/20    CNY     40.24
XIANNING HIGH-TECH INVE      5.80      06/05/20    CNY     40.38
XIANTAO CITY CONSTRUCTI      8.15      02/24/21    CNY     61.00
XIAOGAN GAOCHUANG INVES      7.43      06/23/21    CNY     61.21
XIAOGAN GAOCHUANG INVES      6.87      09/22/21    CNY     61.41
XIAOGAN GAOCHUANG INVES      6.87      09/22/21    CNY     61.67
XIAOGAN GAOCHUANG INVES      7.43      06/23/21    CNY     62.03
XIAOGAN URBAN CONSTRUCT      8.12      03/26/19    CNY     20.15
XIAOGAN URBAN CONSTRUCT      6.89      05/29/21    CNY     61.93
XINGHUA URBAN CONSTRUCT      7.36      07/15/20    CNY     50.66
XINGHUA URBAN CONSTRUCT      7.36      07/15/20    CNY     51.01
XINING CITY INVESTMENT       7.70      04/27/19    CNY     20.20
XINING ECONOMIC DEVELOP      5.90      06/04/20    CNY     40.41
XINJIANG HUIFENG URBAN       6.10      05/23/20    CNY     40.35
XINJIANG HUIFENG URBAN       6.10      05/23/20    CNY     40.41
XINJIANG KAIDI INVESTME      7.80      04/22/21    CNY     61.96
XINJIANG KAIDI INVESTME      7.80      04/22/21    CNY     62.03
XINJIANG RUNSHENG INVES      7.15      07/10/20    CNY     50.27
XINJIANG RUNSHENG INVES      7.15      07/10/20    CNY     50.28
XINJIANG WUJIAQU CAIJIA      7.50      05/21/21    CNY     60.80
XINXIANG INVESTMENT GRO      5.85      04/15/20    CNY     39.90
XINXIANG INVESTMENT GRO      5.85      04/15/20    CNY     40.42
XINYANG HUAXIN INVESTME      6.95      06/14/19    CNY     20.09
XINYANG HUAXIN INVESTME      6.95      06/14/19    CNY     20.15
XINYANG HUAXIN INVESTME      7.55      04/15/21    CNY     61.73
XINYANG HUAXIN INVESTME      7.55      04/15/21    CNY     62.23
XINYI CITY INVESTMENT &      7.39      10/15/20    CNY     41.32
XINYI CITY INVESTMENT &      7.39      10/15/20    CNY     60.50
XINYU CHENGDONG CONSTRU      8.48      05/27/21    CNY     60.52
XINYU CITY SHANTYTOWN Z      6.42      12/09/20    CNY     71.19
XINYU URBAN CONSTRUCTIO      7.08      12/13/19    CNY     20.32
XINZHENG NEW DISTRICT D      6.52      06/28/19    CNY     24.90
XINZHENG NEW DISTRICT D      6.52      06/28/19    CNY     25.22
XINZHOU ASSET MANAGEMEN      8.50      12/18/20    CNY     41.27
XINZHOU ASSET MANAGEMEN      8.50      12/18/20    CNY     42.04
XINZHOU ASSET MANAGEMEN      7.90      02/21/21    CNY     61.12
XINZHOU ASSET MANAGEMEN      7.90      02/21/21    CNY     62.03
XUANCHENG CITY ECONOMY       7.95      09/22/21    CNY     63.08
XUANCHENG CITY ECONOMY       7.95      09/22/21    CNY     63.08
XUANCHENG STATE-OWNED A      7.99      03/20/19    CNY     30.17
XUANCHENG STATE-OWNED A      7.95      03/27/21    CNY     61.97
XUANCHENG STATE-OWNED A      7.95      03/27/21    CNY     62.40
XUZHOU CITY TONGSHAN DI      6.60      08/08/20    CNY     40.66
XUZHOU CITY TONGSHAN DI      6.60      08/08/20    CNY     40.72
XUZHOU ECONOMIC TECHNOL      8.20      03/07/19    CNY     20.05
XUZHOU ECONOMIC TECHNOL      8.20      03/07/19    CNY     20.08
XUZHOU ECONOMIC TECHNOL      7.35      04/21/21    CNY     62.00
XUZHOU HIGH SPEED RAILW      7.09      05/15/21    CNY     62.37
XUZHOU HI-TECH INDUSTRI      7.86      04/22/21    CNY     61.23
XUZHOU HI-TECH INDUSTRI      7.86      04/22/21    CNY     62.14
YA'AN DEVELOPMENT INVES      7.00      09/13/20    CNY     40.78
YAAN STATE-OWNED ASSET       7.39      07/04/19    CNY     20.14
YANCHENG CITY DAFENG DI      7.08      12/13/19    CNY     20.36
YANCHENG CITY DAFENG DI      7.08      12/13/19    CNY     40.00
YANCHENG CITY DAFENG DI      8.50      12/30/20    CNY     42.08
YANCHENG CITY DAFENG DI      8.50      12/30/20    CNY     62.00
YANCHENG CITY DAFENG DI      8.70      01/24/21    CNY     62.34
YANCHENG CITY TINGHU DI      7.95      11/15/20    CNY     40.84
YANCHENG CITY TINGHU DI      7.95      11/15/20    CNY     58.30
YANCHENG ORIENTAL INVES      6.99      10/26/19    CNY     20.14
YANCHENG ORIENTAL INVES      6.48      09/15/21    CNY     59.70
YANCHENG ORIENTAL INVES      6.48      09/15/21    CNY     60.69
YANCHENG SOUTH DISTRICT      6.93      10/26/19    CNY     20.31
YANCHENG SOUTH DISTRICT      6.70      07/30/21    CNY     62.14
YANGJIANG HENGCAI CITY       6.85      09/09/20    CNY     40.80
YANGJIANG HENGCAI CITY       6.85      09/09/20    CNY     40.87
YANGZHOU CHEMICAL INDUS      8.58      01/24/21    CNY     61.15
YANGZHOU CHEMICAL INDUS      8.58      01/24/21    CNY     61.15
YANGZHOU HANJIANG URBAN      6.20      03/12/20    CNY     40.32
YANGZHOU HANJIANG URBAN      6.20      03/12/20    CNY     40.44
YANGZHOU JIANGDU YANJIA      7.48      07/29/20    CNY     50.74
YANGZHOU JIANGDU YANJIA      7.48      07/29/20    CNY     51.21
YANGZHOU LONGCHUAN HOLD      8.10      03/23/19    CNY     20.07
YANGZHOU LONGCHUAN HOLD      8.10      03/23/19    CNY     20.11
YANGZHOU URBAN CONSTRUC      6.30      07/26/19    CNY     20.22
YICHANG URBAN CONSTRUCT      6.85      11/08/19    CNY     20.34
YICHANG URBAN CONSTRUCT      6.85      11/08/19    CNY     20.40
YICHUN URBAN CONSTRUCTI      7.09      05/15/21    CNY     60.72
YICHUN URBAN CONSTRUCTI      7.09      05/15/21    CNY     61.86
YILI KAZAKH AUTONOMOUS       7.68      02/28/21    CNY     61.00
YILI KAZAKH AUTONOMOUS       7.68      02/28/21    CNY     62.07
YINCHUAN URBAN CONSTRUC      6.88      05/12/21    CNY     61.86
YINGTAN INVESTMENT CO        7.50      12/12/22    CNY     63.77
YINGTAN INVESTMENT CO        7.50      12/12/22    CNY     64.00
YINING CITY STATE OWNED      8.90      01/23/21    CNY     62.41
YINING CITY STATE OWNED      8.90      01/23/21    CNY     62.46
YINYI CO LTD                 7.03      06/21/21    CNY     72.00
YIWU URBAN & RURAL NEW       4.25      11/24/21    CNY     74.22
YIXING CITY DEVELOPMENT      6.90      10/10/19    CNY     20.25
YIXING CITY DEVELOPMENT      6.90      10/10/19    CNY     20.37
YIXING TUOYE INDUSTRIAL      7.60      05/28/21    CNY     61.69
YIXING TUOYE INDUSTRIAL      7.60      05/28/21    CNY     62.02
YIYANG CITY CONSTRUCTIO      7.36      08/24/19    CNY     20.25
YIYANG CITY CONSTRUCTIO      7.36      08/24/19    CNY     20.50
YIZHENG CITY CONSTRUCTI      7.78      06/14/19    CNY     20.19
YIZHENG CITY CONSTRUCTI      7.78      06/14/19    CNY     20.21
YIZHENG CITY CONSTRUCTI      8.60      01/09/21    CNY     61.41
YIZHENG CITY CONSTRUCTI      8.60      01/09/21    CNY     62.16
YONGJIA INVESTMENT GROU      6.50      11/12/21    CNY     60.94
YONGJIA INVESTMENT GROU      6.50      11/12/21    CNY     60.95
YONGZHOU CITY CONSTRUCT      7.30      10/23/20    CNY     40.57
YONGZHOU CITY CONSTRUCT      7.30      10/23/20    CNY     41.20
YUEYANG HUILIN INVESTME      5.50      11/03/21    CNY     59.73
YUEYANG HUILIN INVESTME      5.50      11/03/21    CNY     60.20
YUEYANG URBAN CONSTRUCT      6.05      07/12/20    CNY     40.54
YUEYANG URBAN CONSTRUCT      6.05      07/12/20    CNY     40.72
YUHUAN CITY COMMUNICATI      7.15      10/12/19    CNY     20.20
YUHUAN CITY COMMUNICATI      7.15      10/12/19    CNY     20.35
YUHUAN CITY COMMUNICATI      5.65      11/03/21    CNY     59.48
YUHUAN CITY COMMUNICATI      5.65      11/03/21    CNY     60.88
YULIN URBAN CONSTRUCTIO      6.88      11/26/19    CNY     20.27
YULIN URBAN CONSTRUCTIO      6.88      11/26/19    CNY     40.00
YUNCHENG URBAN CONSTRUC      7.48      10/15/19    CNY     20.32
YUNNAN METROPOLITAN CON      6.77      05/23/21    CNY     60.50
YUNNAN METROPOLITAN CON      6.77      05/23/21    CNY     61.39
YUYAO CITY CONSTRUCTION      7.09      05/19/21    CNY     61.40
YUYAO CITY CONSTRUCTION      7.09      05/19/21    CNY     62.20
YUYAO ECONOMIC DEVELOPM      6.75      03/04/20    CNY     40.39
YUYAO ECONOMIC DEVELOPM      6.75      03/04/20    CNY     40.40
ZHANGJIAGANG FREE TRADE      7.10      08/23/20    CNY     41.02
ZHANGJIAGANG FREE TRADE      7.10      08/23/20    CNY     41.10
ZHANGJIAGANG JINCHENG I      6.88      04/28/21    CNY     61.69
ZHANGJIAGANG JINCHENG I      6.88      04/28/21    CNY     62.06
ZHANGJIAGANG MUNICIPAL       6.43      11/27/19    CNY     20.32
ZHANGJIAGANG MUNICIPAL       6.43      11/27/19    CNY     20.40
ZHANGJIAJIE ECONOMIC DE      7.40      10/18/19    CNY     20.48
ZHANGJIAJIE ECONOMIC DE      7.80      04/17/21    CNY     61.77
ZHANGYE CITY INVESTMENT      6.92      09/22/21    CNY     60.54
ZHANGYE CITY INVESTMENT      6.92      09/22/21    CNY     60.55
ZHANGZHOU CITY CONSTRUC      6.60      03/26/20    CNY     40.68
ZHANGZHOU JIULONGJIANG       6.48      06/20/21    CNY     61.50
ZHANGZHOU JIULONGJIANG       6.48      06/20/21    CNY     61.85
ZHANJIANG INFRASTRUCTUR      6.93      10/21/20    CNY     41.30
ZHAOYUAN STATE-OWNED AS      6.64      12/31/19    CNY     20.12
ZHEJIANG CHANGXING VIA       7.99      03/03/21    CNY     60.98
ZHEJIANG CHANGXING VIA       7.99      03/03/21    CNY     70.00
ZHEJIANG FUCHUN SHANJU       7.70      04/28/21    CNY     61.69
ZHEJIANG FUCHUN SHANJU       7.70      04/28/21    CNY     61.75
ZHEJIANG GUOXING INVEST      6.94      08/01/21    CNY     61.85
ZHEJIANG GUOXING INVEST      6.94      08/01/21    CNY     62.39
ZHEJIANG HUZHOU HUANTAI      6.70      11/28/19    CNY     20.33
ZHEJIANG PROVINCE DEQIN      6.40      02/22/20    CNY     40.15
ZHEJIANG PROVINCE XINCH      6.60      04/24/20    CNY     40.31
ZHEJIANG PROVINCE XINCH      6.60      04/24/20    CNY     40.37
ZHEJIANG PROVINCE XINCH      5.88      10/30/21    CNY     60.04
ZHEJIANG PROVINCE XINCH      6.95      12/31/21    CNY     61.09
ZHEJIANG PROVINCE XINCH      5.88      10/30/21    CNY     61.11
ZHEJIANG PROVINCE XINCH      6.95      12/31/21    CNY     62.38
ZHENGZHOU MOUZHONG DEVE      7.48      12/11/21    CNY     61.73
ZHENGZHOU MOUZHONG DEVE      7.48      12/11/21    CNY     62.29
ZHENGZHOU PUBLIC HOUSIN      5.98      07/17/20    CNY     40.34
ZHENGZHOU PUBLIC HOUSIN      5.98      07/17/20    CNY     40.40
ZHENJIANG CITY CONSTRUC      7.90      12/18/20    CNY     41.54
ZHENJIANG CITY CONSTRUC      7.90      12/18/20    CNY     41.65
ZHENJIANG CITY CONSTRUC      8.20      01/13/21    CNY     61.89
ZHENJIANG CITY CONSTRUC      8.20      01/13/21    CNY     71.00
ZHENJIANG CULTURE TOURI      6.60      01/30/20    CNY     40.32
ZHENJIANG DANTU DISTRIC      5.89      11/03/21    CNY     59.25
ZHENJIANG NEW AREA URBA      8.35      02/26/21    CNY     61.33
ZHENJIANG NEW AREA URBA      8.99      01/16/21    CNY     61.55
ZHENJIANG TRANSPORTATIO      7.29      05/08/19    CNY     20.00
ZHONGSHAN TRANSPORTATIO      5.25      11/26/21    CNY     59.08
ZHONGSHAN TRANSPORTATIO      5.25      11/26/21    CNY     59.85
ZHOUKOU INVESTMENT GROU      7.49      04/21/21    CNY     61.73
ZHOUSHAN DINGHAI STATE-      7.25      08/31/20    CNY     40.55
ZHOUSHAN DINGHAI STATE-      7.25      08/31/20    CNY     41.33
ZHOUSHAN DINGHAI STATE-      7.13      08/04/21    CNY     60.57
ZHOUSHAN DINGHAI STATE-      7.13      08/04/21    CNY     61.15
ZHOUSHAN ISLANDS NEW DI      6.98      10/22/22    CNY     72.33
ZHOUSHAN ISLANDS NEW DI      6.98      10/22/22    CNY     72.44
ZHOUSHAN PUTUO DISTRICT      7.18      06/20/22    CNY     72.44
ZHOUSHAN PUTUO DISTRICT      7.18      06/20/22    CNY     72.53
ZHUHAI HUAFA GROUP CO L      5.50      06/05/19    CNY     25.14
ZHUHAI HUAFA GROUP CO L      5.50      06/05/19    CNY     25.15
ZHUHAI HUIHUA INFRASTRU      7.15      09/17/20    CNY     40.84
ZHUHAI HUIHUA INFRASTRU      7.15      09/17/20    CNY     41.15
ZHUJI CITY CONSTRUCTION      6.92      12/19/19    CNY     20.52
ZHUJI CITY YUEDU INVEST      8.20      12/12/20    CNY     41.30
ZHUJI CITY YUEDU INVEST      8.20      12/12/20    CNY     41.44
ZHUZHOU CITY CONSTRUCTI      6.95      10/16/20    CNY     40.90
ZHUZHOU CITY CONSTRUCTI      6.95      10/16/20    CNY     41.18
ZHUZHOU CITY CONSTRUCTI      8.36      11/10/21    CNY     63.37
ZHUZHOU GECKOR GROUP CO      7.50      09/10/19    CNY     20.18
ZHUZHOU GECKOR GROUP CO      7.50      09/10/19    CNY     20.20
ZHUZHOU GECKOR GROUP CO      6.95      08/11/21    CNY     61.18
ZHUZHOU GECKOR GROUP CO      6.95      08/11/21    CNY     61.31
ZHUZHOU YUNLONG DEVELOP      6.78      11/19/19    CNY     20.28
ZHUZHOU YUNLONG DEVELOP      6.78      11/19/19    CNY     20.29
ZIBO CITY PROPERTY CO L      5.45      04/27/19    CNY     11.99
ZIYANG CITY CONSTRUCTIO      7.58      01/09/19    CNY     24.99
ZIYANG WATER INVESTMENT      7.40      10/21/20    CNY     41.30
ZJ HZ QINGSHAN LAKE SCI      7.90      04/23/21    CNY     60.97
ZJ HZ QINGSHAN LAKE SCI      7.90      04/23/21    CNY     61.48
ZUNYI CITY HUICHUAN DIS      6.75      04/24/19    CNY     25.04


HONG KONG
---------

CHINA SOUTH CITY HOLDIN      7.25      11/20/22    USD     70.09
CHINA SOUTH CITY HOLDIN      6.75      09/13/21    USD     73.44
DR PENG HOLDING HONGKON      5.05      06/01/20    USD     74.35


INDONESIA
---------

BERAU COAL ENERGY TBK P      7.25      03/13/17    USD     48.00
BERAU COAL ENERGY TBK P      7.25      03/13/17    USD     48.00
DAVOMAS INTERNATIONAL F     11.00      12/08/14    USD      0.44
DAVOMAS INTERNATIONAL F     11.00      12/08/14    USD      0.44
DAVOMAS INTERNATIONAL F     11.00      05/09/11    USD      0.44
DAVOMAS INTERNATIONAL F     11.00      05/09/11    USD      0.44
EXPRESS TRANSINDO UTAMA     12.25      06/24/19    IDR     30.50
PERUSAHAAN PENERBIT SBS      6.10      02/15/37    IDR     73.20


INDIA
-----

3I INFOTECH LTD              2.50      03/31/25    USD     10.36
ACME FAZILKA POWER PVT       0.01      09/07/46    INR      8.82
AMPSOLAR SOLUTION PVT L      0.01      11/03/37    INR     18.25
AMPSOLAR SOLUTION PVT L      0.01      10/27/37    INR     18.28
APG INTELLI HOMES PVT L      1.25      02/04/35    INR     31.35
APG INTELLI HOMES PVT L      1.25      02/04/35    INR     34.74
ASHOKA HIGHWAYS BHANDAR      2.00      09/19/22    INR     72.98
AUTOMOTIVE EXCHANGE PVT      4.00      06/01/30    INR     54.90
AUTOMOTIVE EXCHANGE PVT      4.00      10/11/30    INR     55.06
BENGAL AEROTROPOLIS PRO      5.00      12/01/29    INR     65.89
BENGAL AEROTROPOLIS PRO      5.00      12/01/28    INR     67.55
BENGAL AEROTROPOLIS PRO      5.00      12/01/27    INR     69.44
BENGAL AEROTROPOLIS PRO      5.00      12/01/26    INR     71.55
BRIGHT BUILDTECH PVT LT      1.00      09/01/23    INR     65.42
BRIGHT BUILDTECH PVT LT      1.00      09/01/23    INR     65.42
CORE EDUCATION & TECHNO      7.00      05/07/49    USD      0.28
CUMULUS TRADING CO PVT       0.01      05/21/32    INR     29.31
CUMULUS TRADING CO PVT       0.01      12/29/29    INR     35.93
CUMULUS TRADING CO PVT       0.01      01/23/30    INR     49.32
DAYAKARA SOLAR POWER PV      0.10      04/05/26    INR     49.93
EDELWEISS ASSET RECONST      2.00      10/07/28    INR     49.27
EDELWEISS ASSET RECONST      2.00      11/20/27    INR     51.96
EDELWEISS ASSET RECONST      2.00      03/28/27    INR     53.66
GREEN URJA PVT LTD           0.01      02/14/30    INR     35.94
GTL INFRASTRUCTURE LTD       6.73      10/26/22    USD      4.00
HIMGIRI ENERGY VENTURES      1.00      09/30/22    INR     69.13
HINDUSTAN CONSTRUCTION       0.01      01/05/27    INR     46.20
HITODI INFRASTRUCTURE L      0.01      06/30/27    INR     41.97
IL&FS PARADIP REFINERY       1.50      08/29/22    INR     74.90
JAIPRAKASH ASSOCIATES L      5.75      09/08/17    USD     55.13
JAIPRAKASH POWER VENTUR      7.00      02/13/49    USD      5.00
JASPER AUTO SERVICES PV      0.01      02/11/23    INR     67.54
JCT LTD                      2.50      04/08/11    USD     25.75
JSM CORP PVT LTD             0.01      08/31/36    INR     20.14
KANAKADURGA FINANCE LTD      0.01      04/15/36    INR     18.78
KVK ENERGY & INFRASTRUC      0.01      01/25/24    INR     60.37
MARIS POWER SUPPLY CO P      2.00      04/18/28    INR     54.70
MYAASHIANA MANAGEMENT S      0.25      02/02/23    INR     67.89
MYTRAH AADHYA POWER PVT      0.01      07/05/35    INR     22.75
MYTRAH ADVAITH POWER PV      0.01      07/13/36    INR     20.76
MYTRAH AKSHAYA ENERGY P      0.01      07/13/36    INR     20.76
ORIGAMI CELLULO PVT LTD      0.01      11/14/36    INR     19.71
PAN INDIA INFRAPROJECTS      0.10      01/25/24    INR     58.63
PRAKASH INDUSTRIES LTD       5.25      04/30/15    USD     22.63
PUNJAB INFRASTRUCTURE D      0.40      10/15/33    INR     32.87
PUNJAB INFRASTRUCTURE D      0.40      10/15/32    INR     35.33
PUNJAB INFRASTRUCTURE D      0.40      10/15/31    INR     38.06
PUNJAB INFRASTRUCTURE D      0.40      10/15/30    INR     41.05
PUNJAB INFRASTRUCTURE D      0.40      10/15/29    INR     44.32
PUNJAB INFRASTRUCTURE D      0.40      10/15/28    INR     47.87
PUNJAB INFRASTRUCTURE D      0.40      10/15/27    INR     51.74
PUNJAB INFRASTRUCTURE D      0.40      10/15/26    INR     55.92
PUNJAB INFRASTRUCTURE D      0.40      10/15/25    INR     60.44
PUNJAB INFRASTRUCTURE D      0.40      10/15/24    INR     65.32
PYRAMID SAIMIRA THEATRE      1.75      07/04/12    USD      1.00
R L FINE CHEM PVT LTD        0.10      08/19/36    INR     20.48
REDKITE CAPITAL PVT LTD      2.50      01/15/28    INR     60.21
REI AGRO LTD                 5.50      11/13/14    USD      0.32
REI AGRO LTD                 5.50      11/13/14    USD      0.32
RELIANCE COMMUNICATIONS      6.50      11/06/20    USD     25.48
SURBHI INVESTMENTS & TR      2.50      10/21/28    INR     55.79
SVOGL OIL GAS & ENERGY       5.00      08/17/15    USD      1.55
TN URJA PVT LTD              0.10      02/22/36    INR     23.53
VIDEOCON INDUSTRIES LTD      2.80      12/31/20    USD     29.75
WATSUN INFRABUILD PVT L      4.00      10/16/37    INR     49.31


JAPAN
-----

AVANSTRATE INC               0.05      10/29/32    JPY      9.75
TKJP CORP                    1.02      12/15/17    JPY      0.50
TKJP CORP                    0.85      03/06/19    JPY      2.02
TKJP CORP                    0.58      03/26/21    JPY      2.02


KOREA
-----

HEUNGKUK FIRE & MARINE       5.70      12/29/46    KRW     50.43
INDUSTRIAL BANK OF KORE      3.84      03/10/45    KRW     40.22
KIBO ABS SPECIALTY CO L      5.00      02/26/21    KRW     66.89
KIBO ABS SPECIALTY CO L      5.00      12/25/19    KRW     72.53
KIBO ABS SPECIALTY CO L      5.00      08/29/19    KRW     73.44
KIBO ABS SPECIALTY CO L      5.00      02/26/19    KRW     74.76
KIBO ABS SPECIALTY CO L      5.00      02/25/19    KRW     75.05
SAMPYO CEMENT CO LTD         7.50      04/20/14    KRW     70.00
SAMPYO CEMENT CO LTD         7.50      07/20/14    KRW     70.00
SAMPYO CEMENT CO LTD         7.50      09/10/14    KRW     70.00
SAMPYO CEMENT CO LTD         7.30      04/12/15    KRW     70.00
SAMPYO CEMENT CO LTD         7.30      06/26/15    KRW     70.00
SINBO SECURITIZATION SP      5.00      12/21/20    KRW     65.80
SINBO SECURITIZATION SP      5.00      03/21/21    KRW     66.82
SINBO SECURITIZATION SP      5.00      02/23/22    KRW     68.79
SINBO SECURITIZATION SP      5.00      01/26/22    KRW     68.93
SINBO SECURITIZATION SP      5.00      09/27/21    KRW     70.72
SINBO SECURITIZATION SP      5.00      08/25/21    KRW     70.98
SINBO SECURITIZATION SP      5.00      06/23/20    KRW     71.19
SINBO SECURITIZATION SP      5.00      07/27/21    KRW     71.20
SINBO SECURITIZATION SP      5.00      03/15/20    KRW     71.93
SINBO SECURITIZATION SP      5.00      02/28/21    KRW     72.38
SINBO SECURITIZATION SP      5.00      01/27/21    KRW     72.64
SINBO SECURITIZATION SP      5.00      12/22/20    KRW     72.91
SINBO SECURITIZATION SP      5.00      09/23/20    KRW     73.65
SINBO SECURITIZATION SP      5.00      08/26/20    KRW     73.88
SINBO SECURITIZATION SP      5.00      06/24/19    KRW     73.95
SINBO SECURITIZATION SP      5.00      07/28/20    KRW     74.10
SINBO SECURITIZATION SP      5.00      03/13/19    KRW     74.82


MALAYSIA
--------

AEON CREDIT SERVICE M B      3.50      09/15/20    MYR      1.33
ASIAN PAC HOLDINGS BHD       3.00      05/25/22    MYR      0.58
BERJAYA CORP BHD             2.00      05/29/26    MYR      0.31
BERJAYA CORP BHD             5.00      04/22/22    MYR      0.33
BRIGHT FOCUS BHD             2.50      01/22/31    MYR     62.55
ELK-DESA RESOURCES BHD       3.25      04/14/22    MYR      0.85
HIAP TECK VENTURE BHD        5.00      06/23/21    MYR      0.29
I-BHD                        3.00      10/09/19    MYR      0.29
IRE-TEX CORP BHD             1.00      06/10/19    MYR      0.01
PERODUA GLOBAL MANUFACT      0.50      12/17/25    MYR     70.46
PMB TECHNOLOGY BHD           3.00      07/12/23    MYR      3.25
PUC BHD                      4.00      02/15/19    MYR      0.05
REDTONE INTERNATIONAL B      2.75      03/04/20    MYR      0.07
SENAI-DESARU EXPRESSWAY      1.35      06/30/31    MYR     60.56
SENAI-DESARU EXPRESSWAY      1.35      12/31/30    MYR     61.73
SENAI-DESARU EXPRESSWAY      1.35      06/28/30    MYR     62.91
SENAI-DESARU EXPRESSWAY      1.35      12/31/29    MYR     64.08
SENAI-DESARU EXPRESSWAY      1.35      12/29/28    MYR     66.48
SENAI-DESARU EXPRESSWAY      1.35      06/30/28    MYR     67.79
SENAI-DESARU EXPRESSWAY      1.35      12/31/27    MYR     69.11
SENAI-DESARU EXPRESSWAY      1.35      06/30/27    MYR     70.41
SENAI-DESARU EXPRESSWAY      1.35      06/30/26    MYR     73.17
SENAI-DESARU EXPRESSWAY      1.15      06/30/25    MYR     75.01
SOUTHERN STEEL BHD           5.00      01/24/20    MYR      0.82
THONG GUAN INDUSTRIES B      5.00      10/10/19    MYR      2.17
VIZIONE HOLDINGS BHD         3.00      08/08/21    MYR      0.07
YTL LAND & DEVELOPMENT       3.00      10/31/21    MYR      0.35


NEW ZEALAND
-----------

PRECINCT PROPERTIES NEW      4.80      09/27/21    NZD      1.03


PHILIPPINES
-----------

BAYAN TELECOMMUNICATION     13.50      07/15/06    USD     22.75
BAYAN TELECOMMUNICATION     13.50      07/15/06    USD     22.75
PHILIPPINE GOVERNMENT B      3.63      03/21/33    PHP     68.00
PHILIPPINE GOVERNMENT B      4.63      09/09/40    PHP     70.57


SINGAPORE
---------

APL REALTY HOLDINGS PTE      5.95      06/02/24    USD     69.05
ASL MARINE HOLDINGS LTD      6.00      03/28/20    SGD     51.38
ASL MARINE HOLDINGS LTD      6.35      10/01/21    SGD     51.38
BAKRIE TELECOM PTE LTD      11.50      05/07/15    USD      0.76
BAKRIE TELECOM PTE LTD      11.50      05/07/15    USD      0.76
BERAU CAPITAL RESOURCES     12.50      07/08/15    USD     47.01
BERAU CAPITAL RESOURCES     12.50      07/08/15    USD     47.02
BLD INVESTMENTS PTE LTD      8.63      03/23/15    USD      4.88
BLUE OCEAN RESOURCES PT      4.00      12/31/21    USD     38.52
BLUE OCEAN RESOURCES PT      4.00      12/31/21    USD     38.52
BLUE OCEAN RESOURCES PT      4.00      12/31/21    USD     38.52
ENERCOAL RESOURCES PTE       9.25      08/05/14    USD     44.50
EZION HOLDINGS LTD           0.25      11/20/27    SGD     60.55
EZRA HOLDINGS LTD            4.88      04/24/18    SGD      5.00
HYFLUX LTD                   4.60      09/23/19    SGD     45.01
HYFLUX LTD                   4.25      09/07/18    SGD     45.38
HYFLUX LTD                   4.20      08/29/19    SGD     45.79
INDO INFRASTRUCTURE GRO      2.00      07/30/10    USD      1.00
INNOVATE CAPITAL PTE LT      6.00      12/11/24    USD     61.21
ITNL OFFSHORE PTE LTD        7.50      01/18/21    CNY     48.08
ORO NEGRO DRILLING PTE       7.50      01/24/19    USD     45.32
OSA GOLIATH PTE LTD         12.00      10/09/19    USD     62.63
PACIFIC RADIANCE LTD         4.30      09/30/19    SGD     10.00
RICKMERS MARITIME            8.45      05/15/17    SGD      5.00
SOECHI CAPITAL PTE LTD       8.38      01/31/23    USD     69.05
SOECHI CAPITAL PTE LTD       8.38      01/31/23    USD     69.20
SWIBER CAPITAL PTE LTD       6.25      10/30/17    SGD      4.20
SWIBER CAPITAL PTE LTD       6.50      08/02/18    SGD      4.20
SWIBER HOLDINGS LTD          7.13      04/18/17    SGD      7.75
SWIBER HOLDINGS LTD          7.75      09/18/17    CNY      7.75
SWIBER HOLDINGS LTD          5.55      10/10/16    SGD     12.25
THETA CAPITAL PTE LTD        6.75      10/31/26    USD     68.24
THETA CAPITAL PTE LTD        7.00      04/11/22    USD     74.21
TRIKOMSEL PTE LTD            5.25      05/10/16    SGD     16.00
TRIKOMSEL PTE LTD            7.88      06/05/17    SGD     16.00


SRI LANKA
---------

SRI LANKA GOVERNMENT BO      5.35      03/01/26    LKR     69.96
SRI LANKA GOVERNMENT BO      8.00      01/01/32    LKR     74.02


THAILAND
--------

G STEEL PCL                  3.00      10/04/15    USD      0.56
MDX PCL                      4.75      09/17/03    USD     30.00


VIETNAM
-------

DEBT AND ASSET TRADING       1.00      10/10/25    USD     68.14
DEBT AND ASSET TRADING       1.00      10/10/25    USD     68.81


                           *********


S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter-Asia Pacific is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Marites O. Claro, Joy A. Agravante, Rousel Elaine T. Fernandez,
Julie Anne L. Toledo, Ivy B. Magdadaro and Peter A. Chapman,
Editors.

Copyright 2019.  All rights reserved.  ISSN: 1520-9482.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding,
electronic re-mailing and photocopying) is strictly prohibited
without prior written permission of the publishers.
Information contained herein is obtained from sources believed
to be reliable, but is not guaranteed.

TCR-AP subscription rate is US$775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance
thereof are US$25 each.  For subscription information, contact
Peter Chapman at 215-945-7000.



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