/raid1/www/Hosts/bankrupt/TCRAP_Public/190528.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 28, 2019, Vol. 22, No. 106

                           Headlines



A U S T R A L I A

ADMEDUS VACCINES: Second Creditors' Meeting Set for June 4
GOSFORD WATERFRONT: Second Creditors' Meeting Set for June 4
GREGNIK INVESTMENTS: Second Creditors' Meeting Set for June 5
J.C. JURY: Placed Into Liquidation
LAUNDRY & LINEN: Clifton Hall Appointed as Liquidators

MIDLAND Z: First Creditors' Meeting Set for June 6
RCR TOMLINSON: Banks Nervous About Solar Loans After Collapse
SILVER BASE: First Creditors' Meeting Set for June 4


I N D I A

ABHILASH CHEMICALS: Ind-Ra Migrates BB+ Rating to Non-Cooperating
ARYA FIN-TRADE: Ind-Ra Migrates 'BB-' LT Rating to Non-Cooperating
ASHWINI FROZEN: CARE Maintains 'D' Rating in Not Cooperating
BUDDHA GLOBAL: CARE Cuts Rating on INR30CR Loan to D, Not Coop.
ECO POLYMERS: CARE Lowers Rating on INR6.70cr LT Loan to B-

ETCO DENIM: CARE Migrates 'D' Rating to Not Cooperating
ETCO INDUSTRIES: CARE Migrates D Rating to Not Cooperating
GENESIS RESORTS: CARE Maintains 'D' Rating in Not Cooperating
HANUMAN DAL: CARE Maintains 'D' Rating in Not Cooperating
HEARTS MALABAR: Ind-Ra Migrates 'B' LT Rating to Non-Cooperating

IDASA INDIA: CARE Lowers Rating on INR7.90cr LT Loan to B-
IL&FS TECHNOLOGIES: CARE Lowers Rating on INR121.55cr Loan to C
J.M. HOUSING: CARE Assigns 'D' Rating to INR98.56cr LT Loan
JAYPEE INFRATECH: Creditors to Meet May 30 to Discuss NBCC Bid
JET AIRWAYS: Former Chairman, Wife Stopped at Mumbai Airport

MADURAI KRISHNA: Ind-Ra Assigns 'B' Issuer Rating, Outlook Stable
MANGLAM FOODS: CARE Assigns 'B' Rating to INR8.83cr LT Loan
ORITO POLYFAB: Ind-Ra Migrates 'BB-' LT Rating to Non-Cooperating
PROVOGUE INDIA: CARE Maintains 'D' Rating in Not Cooperating
RAMESHVAR IMPEX: Ind-Ra Migrates 'B+' LT Rating to Non-Cooperating

RAVI INDUSTRIES: Ind-Ra Migrates 'B+' LT Rating to Non-Cooperating
RUCHI SOYA: CARE Maintains 'D' Rating in Not Cooperating
RUCHI WORLDWIDE: CARE Maintains D Rating in Not Cooperating
SAI CHAYA: CARE Lowers Rating on INR11.48cr LT Loan to B
SAISUDHIR ENERGY: CARE Maintains D Rating in Not Cooperating

SHRI K.K.: Ind-Ra Maintains BB+ Issuer Rating in Non-Cooperating
SUN AGRI: CARE Maintains D Rating in Not Cooperating Category
SWASTIK CERACON: CARE Maintains D Rating in Not Cooperating
THE HEAVEN: CARE Migrates B Rating to Not Cooperating
UNO FORMULATIONS: CARE Assigns B+ Rating to INR7.55cr LT Loan

VANILLA CLEAN: Ind-Ra Downgrades Debt Facilities Rating to 'D'
ZUARI AGRO: Ind-Ra Lowers Long Term Issuer Rating to 'D'


N E W   Z E A L A N D

LOCHAR ESTATE: Liquidator's Bid for Summary Judgment Nixed


P H I L I P P I N E S

RURAL BANK OF GUIHULNGAN: Placed Under PDIC Receivership


S I N G A P O R E

HYFLUX LTD: Utico Dangles Offer of 'Part Cash Redemption'


V I E T N A M

BANK FOR INVESTMENT: S&P Withdraws 'BB-' LT Issuer Credit Rating


X X X X X X X X

[*] BOND PRICING: For the Week May 20, 2019 to May 24, 2019

                           - - - - -


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

ADMEDUS VACCINES: Second Creditors' Meeting Set for June 4
----------------------------------------------------------
A second meeting of creditors in the proceedings of Admedus
Vaccines Pty Ltd, trading as Admedus Immunotherapies, has been set
for June 4, 2019, at 10:30 a.m. at Level 4, 232 Adelaide Street, in
Brisbane, 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 June 3, 2019, at 4:30 p.m.

Peter Anthony Lucas of P A Lucas & Co was appointed as
administrator of Admedus Vaccines on April 18, 2019.

GOSFORD WATERFRONT: Second Creditors' Meeting Set for June 4
------------------------------------------------------------
A second meeting of creditors in the proceedings of Gosford
Waterfront Holdings Pty Limited has been set for June 4, 2019, at
11:30 a.m. at the offices of Condon Associates, Level 6, 87 Marsden
Street, in Parramatta, 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 June 3, 2019, at 4:00 p.m.

Schon Gregory Condon RFD of Condon Associates was appointed as
administrator of Gosford Waterfront on April 30, 2019.

GREGNIK INVESTMENTS: Second Creditors' Meeting Set for June 5
-------------------------------------------------------------
A second meeting of creditors in the proceedings of Gregnik
Investments Pty Ltd as trustee for Wood Family Trust has been set
for June 5, 2019, at 11:00 a.m. at the offices of McLeod &
Partners, at Level 9, 300 Adelaide Street, in Brisbane,
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 June 4, 2019, at 5:00 p.m.

Jonathan McLeod and Bill Karageozis of McLeod & Partners were
appointed as administrators of Gregnik Investments on April 30,
2019.

J.C. JURY: Placed Into Liquidation
----------------------------------
Simon Miller and Timothy Clifton of Clifton Hall were appointed as
Joint and Several Liquidators of J.C. Jury Pty Ltd on May 24,
2019.


LAUNDRY & LINEN: Clifton Hall Appointed as Liquidators
------------------------------------------------------
Timothy Clifton of Clifton Hall was appointed as Liquidator of
Laundry & Linen Works Pty Ltd on May 23, 2019.


MIDLAND Z: First Creditors' Meeting Set for June 6
--------------------------------------------------
A first meeting of the creditors in the proceedings of Midland Z
Pty Ltd will be held on June 6, 2019, at 2:00 p.m. at the offices
of Auxilium Partners, at Level 2, 949 Wellington Street, in West
Perth, WA.

Robert Allan Jacobs of Auxilium Partners was appointed as
administrator of Midland Z on May 26, 2019.

RCR TOMLINSON: Banks Nervous About Solar Loans After Collapse
-------------------------------------------------------------
Jenny Wiggins at Australian Financial Review reports that banks and
insurance companies are seeking reassurance that the collapse of
contractor RCR Tomlinson will not be repeated before lending money
to other companies building solar farm projects, Gransolar chief
executive Ivan Higueras said.

Gransolar, which recently finished building the Lilyvale solar farm
near Emerald in Queensland with fellow Spanish infrastructure
developer Acciona, said the company is being asked how it will
mitigate construction risks before lenders will give it money, the
report relates.

"They are basically asking, 'Can you assure me that whatever
happened on RCR's projects is not going to happen to you and how
are you going to do that?'" Mr. Higueras told The Australian
Financial Review.

RCR is now in liquidation after filing for administration in late
November following cost blow outs on its Australian solar projects,
the report notes. More than 4,000 unsecured creditors were
collectively owed AUD170 million when the company collapsed but
will not receive their money back because all proceeds from asset
sales went to secured bank lenders.

Gransolar, which has designed and built more than 100 solar plants
around the world, is not picking up any of RCR's solar projects.
But it is working for one customer that was affected by RCR's
collapse on an exclusive basis for its next project, Mr. Higueras
said.

Gransolar, which plans to announce two new solar projects soon--one
in NSW and another in Victoria--has been pitching its specialist
design and development skills to potential clients and is targeting
bigger projects with a capacity of more than 100 megawatts.

"People know how difficult solar projects are and where the risks
are, and they start to value the fact that we are specialists and
don’t do anything else," Mr. Higueras said, notes the report.

AFR says construction companies that took on solar projects often
struggled with delivering them quickly because they were used to
longer term infrastructure projects that lasted several years, he
said. "Usually big corporations are not agile."

While there was a "scarcity" of skilled people in remote locations
in Australia to build solar projects, Gransolar has been hiring
people who previously worked in the mining industry and has found
their skills transferred well to the solar industry, he said.

As reported in the Troubled Company Reporter-Asia Pacific on Nov.
26, 2018, SmartCompany said one of Australia's largest publically
listed construction companies RCR Tomlinson has collapsed just a
few months after raising over AUD100 million from investors, with
the company blaming an inability to secure additional funding as
the reason for the business' collapse.

RCR, based in Perth, is the company behind a number of major
infrastructure projects across Australia, specifically in the
mining and energy sectors. It was most recently working on two
solar farms in Queensland, for which it was required to secure the
additional AUD100 million of capital after the costs for the
projects ballooned to over AUD50 million.

SILVER BASE: First Creditors' Meeting Set for June 4
----------------------------------------------------
A first meeting of the creditors in the proceedings of Silver Base
Group Holdings Pty Ltd will be held on June 4, 2019, at 11:00 a.m.
at Suite 1903, Level 19, 31 Market Street, in Sydney, NSW.

Gavin Moss of Chifley Advisory was appointed as administrator of
Silver Base on May 23, 2019.



=========
I N D I A
=========

ABHILASH CHEMICALS: Ind-Ra Migrates BB+ Rating to Non-Cooperating
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Abhilash Chemicals
and Pharmaceuticals Pvt. Ltd.'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:

-- INR6.64 mil. Term loan due on April 2021 migrated to non-
     cooperating category with IND BB+ (ISSUER NOT COOPERATING)
     rating;

-- INR160.0 mil. Fund-based working capital limits migrated to
     non-cooperating category with IND BB+ (ISSUER NOT
     COOPERATING) / IND A4+ (ISSUER NOT COOPERATING) rating; and

-- INR52.5 mil. Non-fund-based working capital limits migrated to

     non-cooperating category with IND A4+ (ISSUER NOT
     COOPERATING) rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
June 13, 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 1989, Abhilash Chemicals and Pharmaceuticals is a
Madurai-based specialty chemical manufacturer.

ARYA FIN-TRADE: Ind-Ra Migrates 'BB-' LT Rating to Non-Cooperating
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Arya Fin-trade
Services (India) Private Limited's (AFPL) 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 action is:

-- INR 220 mil. Non-fund-based facilities migrated to non-
     cooperating category with IND A4+ (ISSUER NOT COOPERATING)
     rating.

Note: ISSUER NOT COOPERATING:  The ratings were last reviewed on
May 28, 2018. Ind-Ra is unable to provide an update, as the agency
does not have adequate information to review the ratings.

COMPANY PROFILE

AFPL is engaged in the provision of broking services and trading of
derivatives and equity on BSE Ltd (cash and currency derivatives)
and National Stock Exchange Limited (cash, futures and options and
currency derivatives).

ASHWINI FROZEN: CARE Maintains 'D' Rating in Not Cooperating
------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Ashwini
Frozen Foods (AFF) continues to remain in the 'Issuer Not
Cooperating' category.

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long-term Bank       0.15       CARE D; Issuer not cooperating;
   Facilities                      Based on best available
                                   information

   Long-term/Short      6.00       CARE D; Issuer not cooperating;
   -term Bank                      Based on best available
   Facilities                      Information

   Short-term Bank
   Facilities           0.25       CARE D; Issuer not cooperating;

                                   Based on best available
                                   Information

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated February 20, 2018, placed
the ratings of AFF under the 'issuer non-cooperating' category as
AFF had failed to provide information for monitoring of the ratings
for the rating exercise as agreed to in its Rating Agreement. AFF
continues to be non-cooperative despite repeated requests for
submission of information through phone calls and emails dated
November 13, 2018, November 20, 2018, April 4, 2019, April 15,
2019. In line with the extant SEBI guidelines, CARE has reviewed
the ratings 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 ratings.

Detailed description of the key rating drivers

At the time of last rating done on February 20, 2018, the following
was the rating weakness:

Key Rating Weaknesses

Ongoing delay in debt servicing: AFF has been irregular in
servicing its debt obligation as there are on-going delays in
servicing its term loan principal and interest repayments. The same
is due to weak liquidity position of the firm.

AFF was established in 1995 and is engaged in processing of sea
food which includes ribbon fish, croaker cuttlefishes, crabs etc.
which are exported to countries like Saudi Arabia, Mozambique, and
Oman etc. The firm has set up its processing facility at Mangrol,
Gujarat. The firm is currently owned and managed by Mr. Bhimji M
Khorava along with 4 other partners and has a long experience in
sea food industry. The firm also has an associate concern with the
name of Jalfish Sea Food which is engaged in the similar line of
business.

BUDDHA GLOBAL: CARE Cuts Rating on INR30CR Loan to D, Not Coop.
---------------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Buddha Global Limited. (BGL), as:

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long term Bank       8.00       CARE D; Issuer not cooperating;
   Facilities                      Revised from CARE BB+; Issuer
                                   not cooperating based on best
                                   available information

   Short term Bank     30.00       CARE D; Issuer not cooperating;
   Facilities                      Revised from CARE A4+; Issuer
                                   not cooperating based on best
                                   available information

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated January 4, 2018, placed the
rating(s) of BGL under the 'issuer non-cooperating' category as
Buddha Global Limited had failed to provide information for
monitoring of the rating as agreed to in its Rating Agreement. BGL
continues to be non-cooperative despite repeated requests for
submission of information through e-mails, phone calls and a letter
dated May 15, 2019. 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).

The revision in the ratings assigned to the bank facilities of
Buddha Global Limited takes into account delays in debt servicing
by the company.

Buddha Global Limited was incorporated on February 12, 2011. Its
commercial operations commenced in November, 2014. The company is
being currently managed by Mr. Tushar Jalan, Mr. Mool Chand
Talreja, Mr Anil Tekriwal and Mr. Deept Sarup Agarwal belonging to
Buddha group and Kamdhenu group. BGPL is primarily engaged in the
trading of rice, wheat, pulses and other related food products. The
company procures items from millers & wholesalers in Delhi, Uttar
Pradesh, Maharashtra, Chandigarh & Haryana. The company mainly
sells its products in Delhi and its nearby regions to wholesalers.
The company commenced sale of rice during FY16.

ECO POLYMERS: CARE Lowers Rating on INR6.70cr LT Loan to B-
-----------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Eco Polymers (ECP), as:

                     Amount
   Facilities      (INR crore)    Ratings
   ----------      -----------    -------
   Long term Bank       6.70      CARE B-; Issuer not cooperating;
   Facilities                     Revised from CARE B; Issuer Not
                                  Cooperating on the basis of
                                  Best available information

Detailed Rationale and key rating drivers

CARE had, vide its press release dated January 9, 2018, placed the
ratings of ECP under the 'issuer noncooperating' category as ECP
had failed to provide information for monitoring of the rating. ECP
continues to be noncooperative despite repeated requests for
submission of information through e-mails, phone calls and a letter
dated March 22, 2019, March 19, 2019 and March 15, 2019. In line
with the extant SEBI guidelines, CARE has reviewed the ratings 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 ratings.

Detailed description of the key rating drivers

The rating has been revised on account of raw material price
volatility risk, competitive and fragmented industry with low entry
barriers and partnership nature of constitution. However, the
rating derives strength from experienced partners.

Key Rating Weaknesses:

Raw material price volatility risk: The primary raw material
required by ECP is PP granules, the price of which is dependent on
crude oil prices which are highly volatile. Further, the limited
suppliers of these raw materials make it a seller's market with
limited bargaining power for buyers. Any sudden spurt in these raw
material prices might not be passed on to the end customers,
instantly, on account of highly fragmented and competitive nature
of the industry, which could lead to decline in profitability
margins.

Competitive and fragmented industry with low entry barriers:
Poly woven sacks & fabric industry is highly fragmented with the
presence of a large number of unorganized regional manufacturers
and rising imports. Furthermore, favorable government policies like
interest rate subsidy under Technology Upgradation Fund Scheme
(TUFS), concession in custom duty, etc. have led to the entry of
many new players in this industry, intensifying the competition.
The intense competition is also driven by low entry barriers in
terms of capital and technology requirements and limited product
differentiation.

Partnership nature of constitution: ECP's constitution as a
partnership firm has the inherent risk of possibility of withdrawal
of the partner's capital at the time of personal contingency and
the firm being dissolved upon the death/retirement/insolvency of
partners.

Key Rating Strengths:

Experienced partners: ECP is managed by Mr. Ashok Goyal, Mr. Vinod
Goyal, Mr. Ayush Goel and Mr. Aman Goyal. Mr. Ashok Goyal and Mr.
Vinod Goyal have total work experience of around two decades and
one and a half decades in the textile industry respectively. They
have gained this experience through their association with group
concerns namely Shree Bhawani Woolen Mills and Shri Bhawani Udyog.
Both the entities are engaged in manufacturing of woolen yarn since
1995 and 2000 respectively.

Eco Polymers (ECP) was established in May, 2016 as a partnership
firm. ECP is established with an aim to set up a manufacturing unit
at Panipat, Haryana for manufacturing of Propylene (PP) fabrics and
woven sacks.

ETCO DENIM: CARE Migrates 'D' Rating to Not Cooperating
-------------------------------------------------------
CARE Ratings has migrated the rating on bank facilities of ETCO
Denim Private Limited (EDPL) to Issuer Not Cooperating category.

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long-term/         112.99       CARE D; Issuer not cooperating;
   Short-term                      Based on best available
   Bank Facilities                 information

   Long-term          246.45       CARE D; Issuer not cooperating;

   Bank Facilities                 Based on best available
                                   information

   Short-term Bank
   Facilities          29.00       CARE D; Issuer not cooperating;

                                   Based on best available
                                   information

Detailed Rationale & Key Rating Drivers

CARE has been seeking information from EDPL to monitor the
rating(s) vide e-mail communications dated May 5, 2019, May 6, 2019
and May 16, 2019. However, despite CARE's repeated requests, the
company has not provided the requisite information for monitoring
the ratings. In the absence of minimum information required for the
purpose of rating, CARE is unable to express opinion on the rating.
Further, EDPL has not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. In line with the
extant SEBI guidelines CARE's rating on EIPL's bank facilities will
now be denoted as CARE D; ISSUER NOT COOPERATING.

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

CARE has been seeking information from Etco Denim Private
Ltd.(EDPL) to monitor the rating(s) vide e-mail communications
dated May 5, 2019, May 6, 2019 and May 16, 2019. However, despite
CARE's repeated requests, the company has not provided the
requisite information for monitoring the ratings. In line with the
extant SEBI guidelines, CARE has reviewed the rating on the basis
of the publicly available information which however, in CARE's
opinion is not sufficient to arrive at a fair rating.

Further, EDPL has not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. The rating on EDPL's
bank facilities will now be denoted as CARE D; ISSUER NOT
COOPERATING.

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 review on December 6, 2017 the following were
the rating strengths and weaknesses:

Key Rating Weaknesses:

Delays in debt servicing: The Company faced considerable strain on
liquidity mainly due to delay in completion of project and
commencement of loan repayments before ramp up of commercial
operations.

EDPL was established in the year 2005 by Mr Ramesh D Shah who is
the promoter of the company. The company is in the business of
spinning, yarn dyeing, denim fabric weaving and finishing. During
May 2013, EDPL made a capex for backward integration and
commissioned a plant for manufacturing denim from cotton bales. The
plant is located at Aliabad Industrial Area, Bijapur District,
Karnataka. The plant has a capacity of manufacturing 38.90 Mn
Metres of Denim per year. The company faced considerable strain on
liquidity mainly due to delay in completion of project and
commencement of loan repayments before ramp up of commercial
operations.

ETCO INDUSTRIES: CARE Migrates D Rating to Not Cooperating
----------------------------------------------------------
CARE Ratings has migrated the rating on bank facilities of Etco
Industries Private Ltd. (EIPL) to Issuer Not Cooperating category.


                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long term Bank      140.56      CARE D; Issuer not cooperating;
   Facilities                      Based on best available
                                   Information

   Short term Bank      12.00      CARE D; Issuer not cooperating;

   Facilities                      Based on best available
                                   Information

Detailed Rationale & Key Rating Drivers

CARE has been seeking information from EIPL to monitor the
rating(s) vide e-mail communications dated May 5, 2019, May 6, 2019
and May 16, 2019. However, despite CARE's repeated requests, the
company has not provided the requisite information for monitoring
the ratings. In the absence of minimum information required for the
purpose of rating, CARE is unable to express opinion on the rating.
Further, EIPL has not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. In line with the
extant SEBI guidelines CARE's rating on EIPL's bank facilities will
now be denoted as CARE D; ISSUER NOT COOPERATING.

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 based on complete required information
on October 17, 2016 the following were the rating strengths and
weaknesses:

Key Rating Weaknesses

Delays in debt servicing: Due to the operational issues and delay
in commissioning of expansion, EIPL was unable to generate
sufficient cash flows required for debt servicing. This led to
delays in debt servicing obligation.

EIPL is engaged in the business of manufacturing cotton yarn. In
2004, EIPL (formerly known as ETCO Spinners Pvt. Ltd.) took over
cotton spinning unit situated at MIDC area Parbhani, Maharashtra,
from the liquidators of Sahakari Soot Girni Ltd at a cost of
INR4.30 crore. EIPL replaced the old equipment and modernised the
set up by importing state of the art Plant and Machinery from
Germany, Italy and China at a cost of INR40 crore (46% funded by
the promoters). The unit commenced its operations from January 1,
2007. Currently, EIPL's installed capacity stands at 41,328
spindles as on March 31, 2016. Sales in the domestic markets
continue to be the primary revenue driver at EIPL.

GENESIS RESORTS: CARE Maintains 'D' Rating in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Genesis
Resorts Pvt Ltd. (GRPL) continues to remain in the 'Issuer Not
Cooperating' category.

                    Amount
   Facilities     (INR crore)     Ratings
   ----------     -----------     -------
   Long term bank     118.91      CARE D; Issuer not cooperating;
   facilities                     Based on best available
                                  information

   Short term bank      2.00      CARE D; Issuer not cooperating;
   facilities                     Based on best available
                                  information

Detailed Rationale & Key Rating Drivers

CARE has been seeking information from GRPL to monitor the
rating(s) vide e-mail communications dated July 5, 2018; April 1,
2019; May 6, 2019, etc. However, despite CARE's repeated requests,
the company has not provided the requisite information for
monitoring the ratings. In the absence of minimum information
required for the purpose of rating, CARE is unable to express
opinion on the rating. In line with the extant SEBI guidelines
CARE's rating on Genesis Resorts Pvt Ltd. bank facilities will
continue to be denoted as CARE D; ISSUER NOT COOPERATING.

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

The rating of Genesis Resorts Pvt Ltd. factors in delay in
servicing of bank loans by the company.

Detailed description of the key rating drivers

At the time of last rating based on complete required information
on April 20, 2016 the following were the rating strengths and
weaknesses:

Key Rating Weaknesses

Ongoing delay in debt servicing: The company continues to have
ongoing delays in servicing of its term loan facilities. The hotel
is yet to commence operations and with insufficient liquidity, the
company has not been able to service its debt repayment which has
commenced from April 30, 2014.

M/s Genesis Resorts Pvt. Ltd. (GRPL) is a private limited company
founded by the promoters of Gajalee Group, a well known
restaurateur group. GRPL was incorporated on September 10, 2012 to
construct a four star hotel in Vile Parle, Mumbai. The proposed
four-star hotel is in the vicinity of domestic and international
airports, and would comprise of 102 rooms, two specialty
restaurants, one 24 hour coffee shop, and one banquet hall, among
other facilities. The project was initially expected to commence
operation from April 2014 at an estimated cost of INR183.81 crore.
However, there has been a delay in the project completion with the
total cost of the project being revised to INR220.33 funded with a
D:E of 1.59x.

HANUMAN DAL: CARE Maintains 'D' Rating in Not Cooperating
---------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Hanuman Dal
Industries Private Limited (HDIPL) continues to remain in the
'Issuer Not Cooperating' category.

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long-Term Bank       25.00      CARE D; ISSUER NOT COOPERATING;

   Facilities                      Based on best available
   (Term Loan)                     information

   Long Term Bank       10.00      CARE D; ISSUER NOT COOPERATING;
   Facilities                      Based on best available
   (Cash Credit)                   information

Detailed Rationale & Key Rating Drivers

CARE had vide its press release dated March 21, 2018, placed the
rating(s) of HDIPL under "Issuer non-cooperating" category as
Hanuman Dal Industries Private limited has failed to provide
information for monitoring the rating and had not paid the
surveillance fees for the rating exercise as agreed in its Rating
Agreement. HDIPL continues to be non-cooperative despite repeated
request for submission of information through mail, phone calls and
a letter dated April 16, 2019. In line with the extant SEBI
guidelines CARE has reviewed the rating on the basis of 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).

The rating to the bank facilities of HDIP, factors in the delays in
debt servicing obligations due to its stressed liquidity position
and continues overdrawal for more than 30 days in cash credit
facility.

Key Rating Weaknesses

Delays in debt servicing: As per the feedback received from the
bankers of HDIPL, there are delays in debt servicing since March
2019 and on ongoing overdrawal in cash credit facility for more
than 30 days. Due to stressed liquidity the company's inability to
service its debt obligations in a timely manner.

Incorporated in the year 2015, Hanuman Dal Industries Private
Limited (HDIPL) belongs to the Bolla Group of Nagpur. The group is
promoted by the Bolla family and is currently managing eight
entities including HDIPL. HDIPL is promoted by Mr. Raman Bolla and
Mrs. Vijayalaxmi Bolla.

HEARTS MALABAR: Ind-Ra Migrates 'B' LT Rating to Non-Cooperating
----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Hearts Malabar
Clinical Solutions 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 the rating. The rating will now
appear as 'IND B (ISSUER NOT COOPERATING)' on the agency's website.


The instrument-wise rating action is:

-- INR90.3 mil. Long-term loan due on April 2027 migrated to Non-
     Cooperating Category with IND B (ISSUER NOT COOPERATING)
     rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on May
28, 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 2014, Hearts Malabar Clinical Solutions operates a
108-bed multi-specialty hospital in Kottakkal, Kerala. The
hospital, which commenced operations in April 2015, provides
cardiology, gynecology, pediatrics, and other treatment.

IDASA INDIA: CARE Lowers Rating on INR7.90cr LT Loan to B-
----------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Idasa India Limited (IIL), as:

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long term Bank       7.90       CARE B-; Stable; Issuer not
   Facilities                      cooperating; Revised from
                                   CARE B; Stable; Issuer Not
                                   Cooperating on the basis
                                   of best available information

Detailed Rationale and key rating drivers

CARE had, vide its press release dated January 3, 2018, placed the
ratings of IIL under the 'issuer non-cooperating' category as IIL
had failed to provide information for monitoring of the rating. IIL
continues to be noncooperative despite repeated requests for
submission of information through e-mails, phone calls and a letter
dated March 22, 2019, March 19, 2019 and March 15, 2019. In line
with the extant SEBI guidelines, CARE has reviewed the ratings 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 ratings.

Detailed description of the key rating drivers

The revision in rating takes into consideration decline in total
operating income, deterioration of solvency position, elongation of
operating cycle, susceptibility of margins to fluctuation in raw
material prices and competition from private dairies and
co-operatives within various geographies. The rating, however,
continues to derive strength from experienced promoters.

Key Rating Weaknesses:

Decline in total operating income: Despite being in operations for
around three decades, the company's scale of operations has
remained small marked by Total Operating Income (TOI) of INR 8.97
crore in FY18 (refers to the period April 01 to March 31) and
net-worth base of INR1.02 crore as on March 31, 2018. The small
scale of operations limits the company's financial flexibility in
times of stress and deprives it of scale benefits.

Deterioration of solvency position: The capital structure of the
company is leveraged with overall gearing ratio of 10.21x as on
March 31, 2018. The same deteriorated from 2.55x as on March 31,
2017 due to increase in the debt levels of the company coupled with
deterioration in net worth base of the company in FY18. The debt
coverage indicators of IIL also stood weak, as on March 31, 2018.

Elongation of operating cycle: The operating cycle of the company
stood elongated at 308 days for FY18 as compared to 284 days for
FY17.

Susceptibility of margins to fluctuation in raw material prices:
Raw material constituted around 80% of the total cost of production
in the past. The entities in dairy industry are susceptible to
fluctuations in raw material prices. Milk supply and its prices are
exposed to several external risks like government policies, cattle
diseases, yield etc. Any fluctuation in prices of milk will have a
direct impact on the profitability margins of the company.

Competition from private dairies and co-operatives within various
geographies: The dairy business is highly fragmented and dominated
by few large players having nationwide presence. The competition is
intense due to the presence of large number of regional and local
milk and milk product suppliers. IIL faces intense competition from
bigger private players and co-operative dairy societies with well
established brands as well as unorganized sectors comprising of
milk vendors.

Key Rating Strengths:

Experienced promoters: IIL is engaged in the business of
manufacturing of ghee and skimmed milk powder for around three
decades and is being managed by all the directors collectively. All
the directors have gained this experience through their association
with IIL and other regional entities.

Idasa India Limited (IIL) was incorporated in July,1985 as a public
limited company. The operations, however, commenced from October,
1986. The company is closely held and is currently being managed by
Sh. Suresh Kumar Aggarwal, Sh. Satish Kumar Aggarwal, Mr.
AnuragGoel, Mr. Manish Goel and Mr. Lokesh Goel collectively. IIL
is engaged in the manufacturing of ghee and skimmed milk powder
(SMP) at its manufacturing facility located in Sangrur, Punjab. The
company is also engaged in trading of milk.

IL&FS TECHNOLOGIES: CARE Lowers Rating on INR121.55cr Loan to C
---------------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
IL&FS Technologies Ltd (ITL), as:

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long-term bank       45.00      CARE C; Negative Revised from
   Facilities                      CARE BB; Negative
   (Fund-based)         
                                   

   Long-term bank      121.55      CARE C; Negative Revised from
   Facilities                      CARE BB; Negative
   (Non-fund based)    
                                   
Detailed Rationale & Key Rating Drivers

The revision in rating assigned to the bank facilities of ITL is on
account of irregularities in servicing of its debt obligations (Not
rated by CARE), apart from its continued stressed liquidity
position and moderation in operational and financial performance of
its India operations during H1FY19 (refers to the period from April
1 to September 30). The rating continues to factor in the slow
project execution leading to low operating income and
profitability, competitive industry scenario, slowdown in order
bidding process and diminishing prospects of new projects being
awarded. The rating is further constrained by the weak financial
risk profile of the parent--Infrastructure Leasing & Financial
Services Limited (IL&FS– rated CARE D) with ongoing default
(owing to the liquidity pressures) which may also adversely impact
the financial flexibility of ITL going forward. However, the
ratings continue to derive strength from its demonstrated track
record of operations, presence and expertise in diverse sectors of
infrastructure value chain and wide range of IT services.

Going forward, the ability of the company to improve its financial
profile by implementing the projects within the timelines as
envisaged with effectively managing its working capital requirement
and improvement in the capital structure will remain the key rating
sensitivities.

Outlook: Negative

The outlook is negative due to expected moderation in the financial
flexibility of the company with slowdown in India operations and
ability of the group to financially support the company, if
required, diminishing significantly. The company has also been
conservative in bidding for new projects impacting its growth plans
in the medium term. The rating may further be revised downward in
case of any further cash flow mismatches to meet the debt
obligations in a timely manner. The outlook maybe revised to stable
in case of improvement in financial risk profile of the company and
the overall group.

Detailed description of the key rating drivers

Key Rating Weaknesses

Recent delays in debt servicing: There were recent delays in
servicing of the debt obligations on the unsecured loan availed by
ITL. The company had delayed the monthly installment of INR 1.85 cr
due for month April 2019. This is on the account of the stretched
liquidity position of the company due to the slow execution of the
ongoing projects and subdued bidding of the new projects.

Weakened financial risk profile and elevated risk of default
The financial performance of ITL during H1FY19 has moderated on the
back of slow order execution and low profitability for its India
operations. The stretched receivables have also put pressure on its
working capital management with a significant portion of
receivables (around 75%) which are primarily from various state
governments remaining outstanding for a period more than 180 days
during the quarters ended September 2018 and December 2018.

Moderate financial risk profile with high gearing: The financial
profile of the company is marked by presence of large external debt
primarily on account of capital intensive nature of business that
requires upfront investment. The company has registered a modest
revenue growth of around 12% in FY18 over the previous year which
has primarily been driven by product sales and services rendered.
The debtprofile of the company comprises of term loan with respect
to the loans availed in the subsidiaries and under implementation
project besides loans taken from related parties. The total debt as
on March 31, 2018 stood at INR1,128.31 crore (as against INR
1,363.50 crore as on March 31, 2017) with an overall gearing at
1.52x (as compared to 2.19x PY). The adjusted gearing after
excluding loan availed from group company (outstanding of INR383.22
crore as on March 31, 2018 and INR454.29 crore as on March 31,
2017) from the total debt, improves to 1.00x as on March 31, 2018
(1.46x as on March 31, 2017). The loan availed from the group
entity has been repaid in full in June 2018. Furthermore, the
company has also extended surety/indemnity in favour of a foreign
bank (Asia United Bank in Philippine Peso) and Indian NBFC on
behalf of its subsidiaries in connection with sanction of a bridge
loan and credit facilities sanctioned to the subsidiaries to the
tune of INR114.42 crore (INR131.90 crore PY).

Liquidity
The liquidity position of the company continues to be stressed with
its operations being working capital intensive owing to stretched
receivables due to delay in realization of payments from state
governments (including Telangana, Odisha, Himachal Pradesh,
Rajasthan, Punjab, Tamil Nadu, Madhya Pradesh and Meghalaya) with
respect to ongoing egovernance projects. However, the incremental
working capital gap has largely been funded though unpaid creditors
due to which the current ratio has declined to 0.97x as on March
31, 2018 as compared with 1.04x as on March 31, 2017. Further, the
company has high debt repayment obligations of around INR209 crore
in the current financial year (FY20) and INR155 crore in the next
financial year (FY21). The unencumbered cash and bank balances
stood at INR 66.53 cr as on March 31, 2018. With the significant
weakening of the credit profile of the parent and its other
subsidiaries, it will not be able to support ITL, in case the
company requires any financial support going ahead.

Highly competitive industry scenario: The Infrastructure and
Communication Technology (ICT) is very competitive with presence of
numerous well established Indian companies and global IT giants.
ITL is present in most of the service offerings in e-governance
space which includes renowned and established companies like HCL,
Wipro, TCS, KPMG, Deloitte and PWC.

Besides the above, ITL also competes with 3i Infotech, Accenture,
Capgemini which have dominant position in the advisory services and
HP, Microsoft, IBM, Accenture, CMC, Wipro, Sun, Patni Computer,
Mastek which possess expertise in the project implementation.

Key Rating Strengths

Long track record of IL&FS group in infrastructure sector: IL&FS
has long track record of operation in the infrastructure sector
with presence in the roads, ports and power sectors. Major
subsidiaries that are operational in various sectors include IL&FS
Transportation Networks Limited (ITNL) (road vertical), IL&FS
Energy Development Company Ltd (IEDCL) (power sector) and IL&FS
Financial Services Limited (IFIN) (investment banking, assets and
structured finance). IL&FS received the registration certificate as
a Non Deposit Accepting Systemically Important Core Investment
Company (Non-Deposit Taking and Systemically Important) (CIC-ND-SI)
in FY13.

Wide range of IT services: The range of IT services and solutions
provided by ITL address the technology needs of a variety of
vertical business segments including e-Governance projects, BFSI,
Power & Utilities, Manufacturing, Real Estate, Urban
Transportation, Land Records Departments, IT infrastructure
security solutions & services, GIS, etc. Whilst continuing with the
above, IL&FS, through ITL is looking to provide managed information
and communications technology (ICT) services across
various infrastructure projects.

ITL is a part of the IL&FS group which Infrastructure Leasing and
Financial Services Ltd (IL&FS) holds the majority stake (52.26% as
on June 30, 2018) in the company. ITL was incorporated on February
9, 1993, and is engaged in complete end-to-end technology solutions
offering consulting, software development, systems integration,
data digitization and management service and solutions, performance
tuning solutions and IT infrastructure management services to
global customers.

ITL works closely with various government departments (pan India
and globally) to create e-governance infrastructure. ITL, over the
years has developed significant expertise in developing and
delivering citizen centric IT projects in Public Private
Partnership (PPP) mode in both domestic and international markets.

J.M. HOUSING: CARE Assigns 'D' Rating to INR98.56cr LT Loan
-----------------------------------------------------------
CARE Ratings has assigned rating to the bank facilities of J.M.
Housing Limited (JMHL), as:

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long term Bank
   Facilities          98.56       CARE D Assigned

Detailed Rationale & Key Rating Drivers

The rating assigned to the bank facilities of JMHL takes into
consideration ongoing delays in debt servicing by the company on
account of stretched liquidity position.

Detailed description of the key rating drivers

Key Rating Weaknesses

Delays in servicing of debt obligations: On account of overall
subdued demand scenario in the real estate market, the company has
been able to garner lower amount of project collections in its
ongoing residential project named JM Florence based in Techzone-IV,
Greater Noida West. This has led to a mismatch between project
receipts vis a vis the debt repayment obligations, leading to
delays in debt servicing.

Subdued real estate scenario: With the on-going economic
conditions, the real estate industry is currently facing issues on
many fronts, including subdued demand, curtailed funding options,
rising costs, restricted supply due to delays in approvals, etc.
thereby resulting in stress on cash flows of developers. The
industry has seen low demand in the recent past, primarily due to
factors like sustained high level of inflation leading to high
interest rates and adverse impact on the buying power and
affordability for the consumers.

Key Rating Strengths

Experienced promoters with established track record of operations:
JM Group was established in the year 1990 with promoters having
more than 25 years of experience in the real estate industry.
Further the group has successfully completed various residential
projects located in Vaishali and Noida region.


Satisfactory project execution and collections: Currently, JM
Housing is executing a residential project named JM Florence based
in Techzone-IV, Greater Noida West. The project has a total
saleable area of 17.95 lsf. Out of total project cost of INR537 cr,
the company has incurred total INR440.1cr till March 31, 2019,
which is 82% of the total project cost. Further, the company has
incurred around 88% of the total construction cost till March 31,
2019, thereby reflecting satisfactory progress in project
execution. Further in the 12 months ended March 31, 2019, company
reported collections worth INR49.95cr.

Liquidity
The liquidity profile of JMHL remains weak. Due to mismatch between
project receipts vis a vis the debt repayment obligations the
liquidity of JMHL remains constrained.

J.M. Housing Limited belongs to JM Group which was incorporated in
the year 1990. JM Housing Ltd is engaged in real estate development
in Delhi & NCR. Till now the group has completed many residential
projects based in Vaishali and Noida regions such as JM Park
Sapphire, JM Royal Legacy, JM Royal Park, JM Orchid, JM Aroma.
Currently the group is building a residential project named JM
Florence based in Techzone-IV, Greater Noida having total saleable
area of 17.95lsf under J.M. Housing Limited.

JAYPEE INFRATECH: Creditors to Meet May 30 to Discuss NBCC Bid
--------------------------------------------------------------
Livemint.com reports that debt-laden Jaypee Infratech's financial
creditors, which include bankers and homebuyers, will meet on May
30 to discuss state-owned NBCC's bid to acquire the realty firm and
complete stuck housing projects.

A meeting of Committee of Creditors (CoC) has been called on May
30, sources said. As many as 13 banks and 23,000 homebuyers have
voting rights in the committee, the report notes.

Earlier this month, creditors rejected a bid by Mumbai-based
Suraksha Realty through a voting process, Livemint.com recalls.

Later, the CoC decided to put on vote the NBCC's offer even as
bankers were opposed to this move citing certain conditions in the
resolution plan submitted by the public sector firm, Livemint.com
says.

On the bankers' plea, the National Company Law Appellate Tribunal
(NCLAT) had on May 17 annulled voting by homebuyers and lenders on
NBCC's bid and allowed renegotiation on the offer by May 30. Voting
process could start from May 31, according to Livemint.com.

At present, bankers and NBCC are negotiating on the latter's bid to
acquire Jaypee Infratech, the report says.

According to Livemint.com, sources had earlier said that NBCC was
unlikely to dilute certain conditions, including exemption from
future tax liability, mentioned in its bid but the public sector
firm was open to negotiating on the offer related to unsold flats.

Livemint.com says lenders have shown reluctance to acquire up to
2,207 unsold flats worth INR1,756 crore as proposed by NBCC in its
revised offer.

In its latest offer, NBCC has proposed infusion of INR200 crore
equity capital, transfer of 950 acres of land worth INR5,000 crore
as well as Yamuna Expressway to banks and completion of flats by
July 2023 in order to settle an outstanding claim of INR23,723
crore of financial creditors, Livemint.com notes.

On this bid, lenders had reservations on certain concessions sought
by NBCC and had sought clarifications from the firm.

However, NBCC decided not to dilute the conditions of exemption
from future income tax liability as well as from taking consent of
development authorities for transfer of businesses, including land
parcels and Yamuna Expressway.

Livemint.com adds that clarifications from the NBCC were sought in
the wake of Jaypee Infratech's Interim Resolution Professional
(IRP) Anuj Jain flagging to the lenders that the state-owned firm's
bid was conditional and non-binding.

Livemint.com relates that the IRP had written to the CoC that
NBCC's revised bid was conditional as the plan would not be binding
unless key relief measures such as extinguishing of income tax
liability and exemption from seeking consent of YEIDA (Yamuna
Expressway Industrial Development Authority) for any business
transfer, were taken.

                      About Jaypee Infratech

Jaypee Infratech Limited (JIL) is engaged in the real estate
development.  The Company's business segments include Yamuna
Expressway Project and Healthcare.  The Company's Yamuna Expressway
Project is an integrated project, which inter alia includes
construction of 165 kilometers long six lane access controlled
expressway from Noida to Agra with provision for expansion to eight
lane with service roads and associated structures on build, own,
operate and transfer basis.  The Company provides operation and
maintenance of Yamuna Expressway for over 36 years, collection of
toll and the rights for development of approximately 25 million
square meters of land for residential, commercial, institutional,
amusement and industrial purposes at over five land parcels along
the expressway.  The Healthcare business segment includes
hospitals.  The Company has commenced development of its Land
Parcel-1 at Noida, Land Parcel-3 at Mirzapur and Land Parcel-5 at
Agra.

On August 8, 2017, the National Company Law Tribunal (NCLT),
Allahabad bench accepted lender IDBI Bank's plea and classified JIL
as an insolvent company.  With this, the board of directors of the
company remains suspended.

Anuj Jain was appointed as Interim Resolution Professional (IRP) to
manage the company's business.  The IRP had invited bids from
investors interested in acquiring JIL and completing the stuck real
estate projects in Noida and Greater Noida.

In September 2017, the Supreme Court of India stayed the insolvency
proceedings initiated against JIL, after various associations of
homebuyers moved a batch of petitions fearing they will lose their
apartments and not get any compensation, according to Livemint. The
stay was later revoked by the court, which directed the resolution
professional to submit an interim resolution plan that takes into
account the interest of homebuyers.

The court also directed the parent company, JAL, to deposit
INR2,000 crore to protect the interest of homebuyers.  Out of this,
only INR750 crore has been deposited so far, Livemint relayed.

JIL features in the Reserve Bank of India's first list of
non-performing assets accounts and had debt exposure of over
INR9,783 crore as of September 2017.  The parent company, JAL owes
more than INR29,000 crore to various banks, the report added.

JET AIRWAYS: Former Chairman, Wife Stopped at Mumbai Airport
------------------------------------------------------------
India Today reports that former Jet Airways Chairman Naresh Goyal
and his wife were stopped from leaving the country at Mumbai
airport on May 25 by the immigration department.

India Today relates that an immigration officer of Mumbai airport
authority said, "Naresh Goyal and wife Anita Goyal travelling to
London on EK 507 were restricted from leaving the country. The
aircraft had reached taxiway when it was recalled back and they
were taken into custody by Immigration officers."

According to India Today, sources said that a look-out-circular was
issued against Naresh Goyal, his family members, and others so that
they cannot flee the country. The SFIO (Serious Fraud Investigation
Office) and ED (Enforcement Directorate) are inquiring into Jet
Airways cases.

The ED, according to sources, is examining Etihad Airways
investment in Jet Privilege Private Limited, the report relays.

The report adds that sources also said that the agency believes
that certain and whether there were any violations of Foreign
Direct Investment may have taken place when the Emirates took a
stake in JPPL in 2014.

Commenting on the development, an Emirates spokesperson said:
"Emirates is co-operating fully with relevant authorities and we
abide by the laws of various countries we operate in."

India Today adds that A Jet Airways engineer, requesting anonymity,
said, "This is a good step, the government should set an example
that no one can escape from the country after being involved in
this type of a case. But this should not be the last step by
government now."

"The newly elected government should think something positive about
the revival of Jet Airways. People are going through a really hard
time," the engineer, as cited by India Today, added.

                         About Jet Airways

Based in Mumbai, India, Jet Airways (India) Limited provided
passenger and cargo air transportation services.  It also provided
aircraft leasing services. It operated flights to 66 destinations
in India and international countries.  

As reported in the Troubled Company Reporter-Asia Pacific on April
22, 2019, Reuters said Jet Airways Ltd on April 17 halted all
flight operations after its lenders rejected its plea for emergency
funds, potentially bringing the curtains down on what was once
India's largest private airline.

Lenders of Jet Airways led by SBI are currently in the process of
selling the airline to recover their dues of over INR8,400 crore,
The Economic Times reported.  Private equity firm TPG Capital,
Indigo Partners, National Investment and Infrastructure Fund (NIIF)
and Etihad Airways are in the race to buy a stake in the grounded
Jet Airways, ET said.

MADURAI KRISHNA: Ind-Ra Assigns 'B' Issuer Rating, Outlook Stable
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has assigned Madurai Krishna
Network Private Limited (MKNPL) a Long-Term Issuer Rating of 'IND
B'. The Outlook is Stable.

The instrument-wise rating actions are:

-- INR30 mil. Fund-based limits assigned with IND B/Stable
     rating;

-- INR30 mil. Term loan due on March 2024 assigned with IND
     B/Stable rating; and

-- INR4 mil. Non-fund-based limits assigned with IND A4 rating.

KEY RATING DRIVERS

The ratings assigned reflect MKNPL's small scale of operations, as
indicated by revenue of INR61 million in FY19 (FY18: INR51.7
million). The revenue increased on a YoY basis due to the addition
of new customers. The figures for FY19 are provisional.

The ratings also take into consideration the tight liquidity
profile, with over-utilization of the working capital limits during
the 12 months ended March 2019; the over-utilizations were
regularized within one to seven days. The cash flow from operations
remained negative at INR8.81 million during FY19 (negative INR20.01
million).

After witnessing an EBITDA loss of INR13.64 million in FY18, MKNPL
reported an operating profit of INR13.23 million in FY19 due to a
fall in administration costs. The company's EBITDA margins are
modest as it operates in the service industry.  In FY19, the
margins stood at 21.53% and the RoCE was 5%.

The ratings are supported by the company's moderate credit metrics,
with interest coverage (operating EBITDA/gross interest expense) of
2.76x and net financial leverage (total adjusted net debt/operating
EBITDAR) of 2.02x in FY19.

The ratings also derive comfort from the director's experience of
two decades in the media business.

RATING SENSITIVITIES

Negative: A decline in the revenue, leading to deterioration in the
entire credit metrics, and or liquidity, will be negative for the
ratings.

Positive: Further growth in revenue along with an improvement in
the liquidity position will be positive for the ratings.

COMPANY PROFILE

MKNPL is engaged in the distribution of cable networks and has
three satellite channels. The company has recently started
distribution of direct-to-home connections well.

MANGLAM FOODS: CARE Assigns 'B' Rating to INR8.83cr LT Loan
-----------------------------------------------------------
CARE Ratings has assigned rating to the bank facilities of Manglam
Foods (MF), as:

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long-term Bank
   Facilities           8.83       CARE B; Stable Assigned

Detailed Rationale & Key rating Drivers

The rating assigned to the bank facilities of MF is primarily
constrained on account of its modest scale of operations in the
highly competitive and seasonal nature of the industry coupled with
weak financial risk profile marked by thin profitability margins,
leveraged capital structure and moderate liquidity position. The
rating is, further, constrained on account of constitution as
proprietorship concern and project implementation risk associated
with it. The rating, however, favorably takes into account
experienced management.

Improvement in the scale of operations while sustaining
profitability margins in light of volatile raw material prices
along with improvement in the liquidity position and successful
completion of debt funded project would be key rating
sensitivities.

Detailed description of the key rating drivers

Key Rating Weakness

Modest scale of operation: The firm has witnessed continuous growth
in Total Operating Income (excluding rental income and other
income) during last three financial years ended FY18 however stood
modest at INR26.63 crore. Till December 2018, the firm has achieved
TOI of INR 23 crore.  Apart from the revenue from MGF, the
proprietorship firm has also generated income from renting of two
warehouses to Madhya Pradesh Warehousing and Logistics Corporation
(MPWLC) on renewal nature basis on every year.

Financial risk profile marked by thin profitability, leveraged
capital structure and moderate liquidity position: Being presence
in trading of agro commodity, the profitability of the firm stood
thin marked by PBILDT and PAT margin of 3.18% and 1.09%
respectively in FY18. Further, with small scale of operation and
low operating margin, PAT level and GCA level stood thin at INR0.29
crore and INR0.33 crore respectively. Further, owing to low
(standalone) net worth base of INR0.66 crore, the capital structure
of the firm stood highly leveraged with an overall gearing of 9.68
times as on March 31, 2018. The debt service coverage indicators of
the firm stood weak with total debt to GCA of 19.28 times as on
March 31, 2018 and interest coverage ratio stood 1.63 times in
FY18.

The operating cycle of the firm stood at moderate at 64 days in
FY18 owing to higher inventory level due to seasonality associated
with the industry. The firm fully utilizes its released working
capital bank borrowing in seasonal period ended December 2018. The
current ratio and quick ratio of the firm stood at 2.35times and
1.26 times respectively as on March 31, 2018.

Project implementation risk: In June 2018, the firm undertook a
project for setting up of processing plant of parboiled rice having
overall capacity of 100 Tonne Per Day. The firm has envisaged total
cost of INR3.01 crore which is to be funded through term loan of
INR2.00 crore and remaining from promoters fund in the form of
capital and unsecured loan. Hence, there would be risk related to
completion of project within envisaged time and cost along with
project stabilization risks.

Seasonality associated with agro commodities in highly fragmented
and government regulated industry: As the firm is engaged in the
business of trading and processing of agriculture commodities, the
prices of agriculture commodities remained fluctuating and depend
on production yield, demand of the commodities and vagaries of
weather. Hence, profitability of the firm is exposed to
vulnerability in prices of agriculture commodities.

The rice milling industry is characterized by limited value
addition, highly fragmented and competitive in nature as evident by
the presence of numerous unorganized and few organized players.
Further, the industry is characterized by high degree of government
control both in procurement and sales for rice.

Constitution as a proprietorship concern: The low net worth base
makes its operations highly susceptible to any business shock,
thereby limiting its ability to absorb losses or financial
exigencies. Further, its constitution as a proprietorship concern
led to risk of withdrawal of capital.

Key Rating Strengths

Experienced management: Mrs. Sapna Agrawal, Proprietor has vast
experience of more than three decade in the agro commodity industry
through family business. Further, the overall affairs of the firm
are managed by her sons Mr. Rahul Agrawal and Mr. Shiv Hari Agrawal
who also associated with this firm since inception.

Jabalpur (Madhya Pradesh) based Manglam Foods (MGF) was formed in
2013 as a proprietorship concern by Mrs. Sapna Agrawal. Earlier MGF
was mainly engaged in the processing of rice for government
department on job work basis and was also engaged in trading of
agricultural commodities such as rahar, urad, wheat, murgi dana
etc.

ORITO POLYFAB: Ind-Ra Migrates 'BB-' LT Rating to Non-Cooperating
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Orito Polyfab
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:

-- INR400 mil. Long-term loans due on December 2025 migrated To
     non-cooperating category with IND BB- (ISSUER NOT
     COOPERATING) rating;

-- INR72.5 mil. Fund-based limits migrated To non-cooperating
     category with IND BB- (ISSUER NOT COOPERATING) / IND A4+
     (ISUER NOT COOPERATING) rating; and

-- INR27.5 mil. Non-fund-based limits migrated To non-cooperating

     category 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

Established in 2014, Orito Polyfab manufactures cotton yarn. The
company exports 60% of the yarn to Australia, Germany, Turkey,
China, and Bangladesh, and sells the remaining 40% in Ahmedabad and
Maharashtra.

PROVOGUE INDIA: CARE Maintains 'D' Rating in Not Cooperating
------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Provogue
India Limited (PIL) continues to remain in the 'Issuer Not
Cooperating' category.

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long-term Bank      218.68      CARE D; Issuer not cooperating;
   Facilities                      Based on best available
                                   information

   Short-term Bank      30.47      CARE D; Issuer not cooperating;
   Facilities                      Based on best available
                                   information

Detailed Rationale & Key Rating Drivers

CARE has been seeking information from PIL to monitor the rating(s)
vide e-mail communications dated May 6, 2019, May 15, 2019 and May
16, 2019. However, despite CARE's repeated requests, the company
has not provided the requisite information for monitoring the
ratings. In line with the extant SEBI guidelines, CARE has reviewed
the ratings on the basis of the publicly available information
which however, in CARE's opinion is not sufficient to arrive at a
fair rating. The ratings on Provogue India Limited's bank
facilities will continue to be denoted as CARE D; ISSUER NOT
COOPERATING.

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

The rating takes into account delay in servicing of bank loans by
the company. The company has been admitted under the Corporate
Insolvency Resolution Process as per the Insolvency and Bankruptcy
Code, 2016.

Detailed description of the key rating drivers

At the time of last rating based on complete required information
on October 30, 2015 the following were the rating strengths and
weaknesses (updated for the information available on stock exchange
and company website):

Key Rating Weaknesses

Ongoing liquidity stress: There are ongoing delays in servicing of
debt obligations by the company on the back of substantial
deterioration in operational and financial performance of the
company which has impacted the liquidity position of the company.

Deterioration in financial performance: The company continued to
report net losses in FY18 at INR155.48 crore (vis-à-vis loss of
INR 179.81 crore in FY17). Further, the total operating income
declined to INR97.59 crore against INR216.14 crore in FY17.

Provogue (India) Limited (PIL), founded in 1997, is engaged in the
manufacture, sale and retail of the fashion apparel products and
accessories for men and women under its well-known brand
'Provogue'. PIL operates in the lifestyle retail segment through
more than 150 stores spread across 80 locations across India.
Furthermore, the company has garment manufacturing plants at two
locations, namely, Daman (Gujarat) and Baddi (Himachal Pradesh).
Also, the company is engaged in the export of fabrics and garments
to African countries.

PIL reported a total operating income of INR97.59 crore and net
loss of INR155.48 crore in FY18 compared to INR216.14 crore and net
loss of INR179.81 crore in FY17 on standalone basis.

RAMESHVAR IMPEX: Ind-Ra Migrates 'B+' LT Rating to Non-Cooperating
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Rameshvar Impex'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 B+ (ISSUER NOT
COOPERATING)' on the agency's website.

The instrument-wise rating actions are:

-- INR70 mil. Fund-based limits migrated to non-cooperating
     category with IND B+ (ISSUER NOT COOPERATING) / IND A4 (ISUER

     NOT COOPERATING) rating; and

-- INR8.75 mil. Non-fund-based limits migrated to non-cooperating

     category with IND A4 (ISSUER NOT COOPERATING) rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
June 7, 2018. Ind-Ra is unable to provide an update, as the agency
does not have adequate information to review the ratings.

COMPANY PROFILE

Rameshvar Impex was formed in 2011 by Hareshbhai Jethabhai Miyani,
Mukeshbhai Arjanbhai Vaghani, and Hirenbhai Pravinbhai Kevadiya.
The firm is engaged in the cutting and polishing of diamonds.

RAVI INDUSTRIES: Ind-Ra Migrates 'B+' LT Rating to Non-Cooperating
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Ravi Industries'
IND B+' Long-Term Issuer Rating to the non-cooperating category.
The Outlook was Stable. 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 B+ (ISSUER NOT COOPERATING)' on the agency's
website.

The instrument-wise rating actions are:

-- INR0.786 mil. Term loan due on February 2019 migrated to non-
     cooperating category with IND B+ (ISSUER NOT COOPERATING)
     rating; and

-- INR60.0 mil. Fund-based facilities migrated to non-cooperating

     category with IND B+ (ISSUER NOT COOPERATING)/ IND A4 (ISSUER

     NOT COOPERATING) rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
June 13, 2018. Ind-Ra is unable to provide an update, as the agency
does not have adequate information to review the ratings.

COMPANY PROFILE

Ravi Industries is a partnership firm engaged in expelling cotton
oil cake (82% of total production) and oil (12%) from cotton seeds.


RUCHI SOYA: CARE Maintains 'D' Rating in Not Cooperating
--------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Ruchi Soya
Industries Limited (RSIL) continues to remain in the 'Issuer Not
Cooperating' category.

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long Term Bank     3,424.24     CARE D; ISSUER NOT COOPERATING;

   Facilities                      Based on best available
                                   information

   Long Term/Short    6,490.95     CARE D; ISSUER NOT COOPERATING;
   Term Bank                       Based on best available
   Facilities                      information

Detailed Rationale & Key Rating Drivers

CARE had, vide press release dated February 20, 2018, placed the
ratings of RSIL under the 'Issuer Non-cooperating' category as RSIL
had failed to provide information for monitoring of the rating, had
not submitted the No Default Statement for the period from July
2017 to February 2018 and had not paid the surveillance
fees for the rating exercise as agreed to in its Rating Agreement.
RSIL continues to be non-cooperative despite repeated requests for
submission of information through e-mails, phone calls and e-mails
dated May 10, 2019, May 13, 2019 and May 15, 2019. In line with the
extant SEBI guidelines, CARE has reviewed the ratings 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 these ratings (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above ratings.

The ratings of RSIL take into account ongoing delays in servicing
of debt obligations on account of its stressed liquidity.

Detailed description of the key rating drivers

At the time of last rating on February 20, 2018, the following were
the rating strengths and weaknesses (updated for the information
available from BSE filings, lenders feedback and publicly available
information).

Key Rating Weaknesses

Delays in debt servicing: RSIL witnessed delays in servicing of
debt obligations on account of its stressed liquidity, on the back
of huge loss posted in FY16 (FY refers to the period April 1 to
March 31) and subdued operating performance in H1FY17. Liquidity of
the company continues to remain stressed on account of huge cash
losses posted by RSIL in FY17 and FY18.

Initiation of Corporate Insolvency Resolution Process (CIRP): CIRP
has been initiated against RSIL in December 2017 under the
Insolvency and Bankruptcy Code (IBC).

Incorporated in January 1986, RSIL is engaged in crushing of oil
seeds and extraction/refining of edible oil along with
manufacturing of related products such as soya meal, soya lecithin,
vanaspati and textured proteins. It is also engaged in
import/export as well as domestic trading of various
agri-commodities. RSIL has crushing capacity of 3.72 million tonnes
at 10 locations across the country.

It is the flagship entity of the Indore, Madhya Pradesh, based
Ruchi Group, which has business interests spread across various
sectors various sectors including edible oil, agri-commodity
trading, liquid and dry storage warehousing for agriproducts and
real estate.

RUCHI WORLDWIDE: CARE Maintains D Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Ruchi
Worldwide Limited (RWL) continues to remain in the 'Issuer Not
Cooperating' category.

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long Term/          835.00      CARE D/CARE D; ISSUER NOT
   Short Term                      COOPERATING; Based on best
   Bank Facilities                 Available information

Detailed Rationale & Key Rating Drivers

CARE had, vide press release dated February 13, 2018, placed the
ratings of RWL under the 'Issuer Non-cooperating' category as RWL
had failed to provide information for monitoring of the rating and
had not paid the surveillance fees for the rating exercise as
agreed to in its Rating Agreement. RWL continues to be
noncooperative despite repeated requests for submission of
information through e-mails, phone calls and e-mail dated May 10,
2019, May 13, 2019 and May 15, 2019. 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 these ratings (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above ratings.

The ratings of RWL take into account ongoing delays in servicing of
debt obligations on account of its stressed liquidity.

Detailed description of the key rating drivers

At the time of last rating on February 13, 2018, the following were
the rating strengths and weaknesses (updated for publicly available
information).

Key Rating Weaknesses

On-going delays in debt servicing: There are on-going delays in
servicing of debt obligations by RWL on account of stress on its
liquidity.

RWL is a subsidiary of Ruchi Soya Industries Ltd. (RSIL; rated CARE
D; ISSUER NOT CO-OPERATING) and a part of the Indore, Madhya
Pradesh based Ruchi Group. RWL is an international trading arm of
the group and is involved in trading of various agri-commodities
including edible oil, raw cotton, castor seeds and oil, coffee,
grain and pulses. As on March 31, 2018, RSIL held 52.48% equity in
RWL and the balance was with the Shahra family, the promoters of
RSIL.

SAI CHAYA: CARE Lowers Rating on INR11.48cr LT Loan to B
--------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Sai Chaya Autolink Private Limited (SCAPL), as:

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long-term Bank       11.48      CARE B; Stable, Issuer not
   Facilities                      cooperating; Revised from
                                   CARE B+; Stable, Issuer Not
                                   Cooperating; on the basis of
                                   Best available information

Detailed Rationale, Key Rating Drivers and Detailed description of
the key rating drivers

CARE had, vide its press release dated May 13 2018, placed the
rating(s) of SCAPL under the 'issuer non-cooperating' category as
SCAPL had failed to provide information for monitoring of the
rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. SCAPL continues to
be non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter dated May10,
2019. 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 March 8, 2017, the following were the
rating strengths and weaknesses

Key Rating Weakness

Modest scale of operations with thin profitability in a highly
competitive industry: The scale of operations of the company stood
modest with Total Operating Income (TOI) of INR63.47 crore and PAT
of INR0.07 crore in FY17 (refers to the period April 1 to March 31)
in a highly competitive industry. During FY17, TOI of the company
increased by 40.57% over FY16 and registered TOI of INR63.47 crore.
PBILDT margin remained stable at 2.02% in FY17. However, PAT margin
decreased by 11 bps on account of higher interest expenses. The
market is characterized by aggressive competition on account of
established presence of authorized dealers of other automobile
manufacturers.

Highly leveraged capital structure, weak debt coverage indicators
and stressed liquidity position: The capital structure remained
leveraged with overall gearing of 5.16 times as on March 31, 2017
as against 4.65 times as on March 31, 2016 increased on account of
higher debt. Further the total debt to GCA remained weak at 22.25
times in FY17 declined from 18.26 times in FY16 mainly due to
increase in debt level and decline in GCA level. The liquidity
position of the company remained weak as reflected by elongated
operating cycle of 82 days in FY17, improved marginally from 86
days in FY16. The current and quick ratio of the company stood
below unity as on March 31, 2017.

Limited bargaining power with principal automobile manufacturers:
SCAPL business model is purely in the nature of trading wherein
profitability margins are very thin. Moreover, in this business a
dealer has very less bargaining power over principal manufactures.
The margin on products is set at a particular level by the
principal manufacturer thereby restricting the company to earn
incremental income.

Key Rating Strengths

Experienced and qualified promoters with long track record of
operations in the industry: Mr. Jai Moolchandani, the key promoter,
has an extensive experience in this domain of around 15 years and
looks after the overall management of the company. The top
management is assisted by Mr. Satya Prakash Sharma, General
Manager, who looks after finance function of the company.

Authorized dealer of Ford India Private Limited (FIPL) for
passenger cars: SCAPL is the authorized dealer of FIPL for
passenger cars in Bhopal that includes all type of passenger
vehicles. It also provides authorized after sales service and deals
in accessories & spare parts apart from selling cars. This is
supported by requisite infrastructure in terms of showroom and
workshop to carry out business of sales and service of FIPL's
passenger cars.

Bhopal-based SCAPL was incorporated in 2003 by Mr. Jai Moolchandani
along with Mr. Krishna Moolchandani, Mr. Deepak Rajpal and Mrs
Neelam Rajpal. SCAPL is an authorized dealer of FIPL and operates
two showrooms cum service outlet and a small sales outlet in
Bhopal, Madhya Pradesh. It is the only Ford dealer in Bhopal and is
one of the five dealers in Madhya Pradesh. The Moolchandani family
has also promoted R.M. Autolink Private Limited which has Honda
bikes & scooter dealership in Madhya Pradesh.

SAISUDHIR ENERGY: CARE Maintains D Rating in Not Cooperating
------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Saisudhir
Energy Limited (SEL) continues to remain in the 'Issuer Not
Cooperating' category.

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long term Bank      146.87      CARE D; Issuer not cooperating;
   Facilities                      Based on best available
                                   information

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated December 1, 2017 placed the
rating of SEL under the 'issuer non-cooperating' category as SEL
had failed to provide information for monitoring of the rating SEL
continues to be non-cooperative despite repeated requests for
submission of information through e-mails, phone calls and a letter
& email dated May 10, 2019. 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 December 1, 2017, the following were the
rating strengths and weaknesses (updated for the information
available from Registrar of Companies):

Key Rating Weaknesses

Continued delays in debt servicing owing to cash flow mismatches:
As per the due diligence undertaken by CARE and the audit report
for FY18, there are continued delays in debt servicing. Delays are
on account of cash flow mismatches.

Saisudhir Energy Ltd. (SEL) was incorporated in 2010 by Mr. D.
Sreedhar Reddy to set up solar power plants in the Ananthpur
District in state of Andhra Pradesh. The company is a 100%
subsidiary of Saisudhir Infrastructures Limited (SSIL). SEL has
successfully commissioned two solar photovoltaic power plants of 5
MW and 20 MW respectively in Ananthpur district of Andhra Pradesh.
The 5 MW project was commissioned on January 5, 2012 within
stipulated timelines. There was a delay in commissioning of 20 MW
project. As per the Power Purchase agreement (PPA), Scheduled
Commercial Operation Date (SCOD) was 23 February 2013 however; the
project was commissioned on July 24, 2013 with a delay of five
months. The company has entered into long term PPA with NTPC Vidyut
Vyapar Nigam Limited for entire 25 MW capacity.

SHRI K.K.: Ind-Ra Maintains BB+ Issuer Rating in Non-Cooperating
----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has maintained Shri K. K. Jain
Educational Trust's bank facilities in 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 the ratings. The ratings will
continue to appear as 'IND BB+ (ISSUER NOT COOPERATING)' on the
agency's website.

The instrument-wise rating actions are:

-- INR120.4 mil. Term loan maintained in non-cooperating category

     with IND BB+ (ISSUER NOT COOPERATING) rating; and

-- INR100 mil. Working capital facility maintained in non-
     cooperating category with IND BB+ (ISSUER NOT COOPERATING)
     rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on May
25, 2016. Ind-Ra is unable to provide an update, as the agency does
not have adequate information to review the ratings.

COMPANY PROFILE

Established in 1998, Shri K. K. Jain Educational Trust operates
three schools in collaboration with Delhi Public School Society.

SUN AGRI: CARE Maintains D Rating in Not Cooperating Category
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Sun Agri
fresh Industries Private Limited (SAIPL) continues to remain in the
'Issuer Not Cooperating' category.

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long term Bank       43.28      CARE D; Issuer not cooperating;

   Facilities                      Based on best available
                                   information

   Long term Bank       14.22      CARE D; Issuer not cooperating;
   Facilities                      Based on best available
   (Proposed)                      information

   Long term/            2.50      CARE D/CARE D; Issuer not
   Short term                      cooperating; Based on best
   Bank Facilities                 available information     
   (Proposed)            

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated January 15, 2018, placed the
rating of SAIPL under the 'issuer non-cooperating' category as Sun
Agri fresh Industries Private Limited had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. SAIPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails, phone calls
and a letter dated May 16, 2018. 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

The ratings take into consideration ongoing delays in debt
servicing and the account has been classified as NPA as per
feedback from the banker.

New Delhi-based, Sun Agrifresh Industries Private Limited (SAIPL)
was incorporated in 2007 and is currently being managed by Mr
Nilesh Singh and Mr Ritesh Singh Pundir. SAIPL is engaged in the
agriculture and retail industry which involves agricultural
farming, dairy farming and retailing of fast moving consumer goods.
SAIPL cultivates vegetables, fruits, wheat, paddy, etc. and sells
the final products to villagers in same region. Wheat and paddy is
processed at processing units located in Delhi and Jhansi (Madhya
Pradesh) and final products like flour, rice, maida, etc. are
subsequently sold through the network of distributors and retailers
in Delhi and NCR. The company maintains animal farm at Uttar
Pradesh with flock of 150 cattle and supplies raw milk to milk
processing units. The company also sells its various processed
products through a dealer base of around 125 dealers and also
through its own four retail stores (Sun Mart). Furthermore, the
company is operating around 15 super bazars (chain of departmental
stores in Delhi managed by Super Bazaar Cooperative Society under
the aegis of government) in Delhi NCR region. SAIPL procures the
raw material i.e. seeds, wheat, paddy, fertilizers for its various
division from Delhi, Uttar Pradesh, and Rajasthan.

SWASTIK CERACON: CARE Maintains D Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Swastik
Ceracon Limited (SCL) continues to remain in the 'Issuer Not
Cooperating' category.

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long term Bank      76.62       CARE D; Issuer Not Cooperating;
   Facilities                      based on best available
                                   information

   Short term Bank     15.50       CARE D; Issuer Not Cooperating;
   Facilities                      based on best available
                                   information

   Long term/Short      2.50       CARE D/CARE D; Issuer Not
   term Bank                       Cooperating; based on best
   Facilities                      Available information

Detailed Rationale & Key Rating Drivers

CARE had, vide press release dated March 20, 2017, placed the
rating of SCL under the 'Issuer non-cooperating' category as the
company had failed to provide information for monitoring of the
rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. Furthermore, CARE
had revised the rating to CARE D; Issuer non-cooperating vide its
press release dated June 7, 2018.

SCL continues to be non-cooperative despite requests for submission
of periodic Default, if any, statement and other information
through e-mails, phone calls and letter/e-mail dated May 7, 2019.
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).

The rating assigned to the bank facilities of Swastik Ceracon
Limited (SCL) takes into account on-going delays in servicing of
its debt obligations, as per interaction with its lenders.

Detailed description of the key rating drivers

Key Rating Weakness

Delays in debt servicing obligations: As per recent telephonic
interaction with lenders of SCL, the lenders have confirmed that
there are delay/ irregularities in serving of debt obligations by
the company and the account has been treated as NPA.

Incorporated in 2003, SCL is promoted by Mr. Girish Patel & Mr.
Pankaj Patel and Mr. Jigar Patel. SCL manufactures different
varieties of vitrified tiles. SCL has four manufacturing units,
which are located in the state of Gujarat near Himmatnagar,
Mehsana, Palaj and Nandasan having a combined installed capacity of
32,000 square meters per day (SMPD) as on September 30, 2015.

THE HEAVEN: CARE Migrates B Rating to Not Cooperating
-----------------------------------------------------
CARE Ratings has migrated the rating on bank facilities of The
Heaven (HVN) to Issuer Not Cooperating category.

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long term Bank       7.50       CARE B; Stable; Issuer not
   Facilities                      cooperating; Based on best
                                   available information

Detailed Rationale & Key Rating Drivers

CARE has been seeking No Default Statement from HVN to monitor the
ratings vide e-mail communications dated February 1, 2019, February
5, 2019, February 15, 2019, February 28, 2019, March 1, 2019, March
5, 2019, March 15, 2019, March 30, 2019, April 1, 2019, April 4,
2019, April 10, 2019, April 16, 2019, April 19, 2019, April 30,
2019 and numerous phone calls. However, despite CARE's repeated
requests, the firm has not provided no default statement for
monitoring the ratings. In line with the extant SEBI guidelines,
CARE has reviewed the rating on the basis of the publicly available
information which however, in CARE's opinion is not sufficient to
arrive at a fair rating. The ratings on HVN's bank facilities will
now be denoted as CARE B; Stable; ISSUER NOT COOPERATING.

UNO FORMULATIONS: CARE Assigns B+ Rating to INR7.55cr LT Loan
-------------------------------------------------------------
CARE Ratings has assigned rating to the bank facilities of Uno
Formulations (UNO), as:

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long-term Bank
   Facilities           7.55       CARE B+; Stable Assigned

Detailed Rationale & Key Rating Drivers

The rating assigned to the bank facilities of UNO is primarily
constrained on account of its small and fluctuating scale of
operations with moderate profitability, moderate debt coverage
indicators, moderate liquidity and project implementation and
stabilization risk associated with ongoing debt funded capex.
Furthermore, rating is also constrained on account of its
partnership nature of constitution, its presence in highly
competitive and fragmented chemical industry and susceptibility of
profit margins to raw material price fluctuations.

The rating, however, benefits from healthy experience of the
partners, reputed clientele and comfortable capital structure.

The ability of UNO to increase its scale of operations with
improvement in profitability and debt coverage indicators along
with better working capital management will be the key rating
sensitivity. Further, successful completion of on-going capex also
remains key rating sensitivities.

Detailed description of the key rating drivers

Key Rating Weaknesses

Small and fluctuating scale of operations with moderate
profitability: UNO is engaged in contract manufacturing of aerosol
based products and has reported fluctuating trend in its Total
Operating Income (TOI). During FY18, TOI of UNO has declined by
42.23% stood small at Rs.1.54 crore during FY18 as against Rs. 2.69
crore during FY17 (which was increased from Rs.1.65 crore in
FY16).

Profit margins remained moderate marked by PBILDT and PAT Margin
remained at 8.03% and 3.51% respectively during FY18 as against
13.64% and 12.06% respectively during FY17.

Moderate debt coverage indicators: On account of moderate
profitability with low debt level, debt coverage indicators
remained moderate marked by total debt to gross cash accruals ratio
of 7.52 times as on March 31, 2018 as against 0.16 times as on
March 31, 2017 and interest coverage ratio of 3.23 times in FY18 as
against 18.96 times during FY17.

Partnership nature of constitution: UNO being a partnership firm is
exposed to inherent risk of the partners’ capital being withdrawn
at the time of contingency and also limits the ability to raise the
capital.

Moderate liquidity: As on March 31, 2018, liquidity remained
moderate marked by current ratio and quick ratio stood at 2.58x and
2.21x respectively as against 2.05x and 1.78x respectively as on
March 31, 2017. During FY18, operating cycle stood moderate at 45
days as against 5 days during FY17. Cash flow from operating
activities (CFO) has turned negative and stood at Rs.0.74 crore in
FY18 as against positive Rs.0.24 crore in FY17. Cash and bank
balance stood low at Rs.0.01 crore as on March 31, 2018.

Project implementation and stabilization risk: UNO is implementing
a project by setting up a new plant in Dadra Nagar Haveli. UNO will
manufacture aerosol based products and also they will start a new
product line for manufacturing of cosmetic lotions like sunscreen
lotion, shaving creams and etc. Total cost of the project was Rs.
9.90 crore which will be funded through debt-equity mix of 2.14x.
Till December 27, 2018, 19.70% cost has been incurred towards land
and building which has been funded through debt/equity mix of 1.05
times. UNO is expecting to start operations of the said product
line by September 2019, this exposes it to project implementation
risk within envisaged time and cost parameters; along with
stabilization risk.

Operating margins are susceptible to changes in raw material
prices: The primary raw materials required for manufacturing of
aerosol based products are propylene, dimethyl, butane, and
packaging material likes aluminum based cans, caps, valve and other
chemicals and etc. They also required LPG gas to pressurize liquid
into cans. The prices of the said materials are volatile in nature
and any adverse fluctuation in these raw materials prices is likely
to impact the profit margins of UNO. Furthermore, the market is
seller dominated which restricts the bargaining power of the
buyers.

Presence in highly competitive and fragmented industry: The Indian
Chemical Industry is characterized by high fragmentation and
competitive intensity, resulting from low capital intensity and
technical complexity along with lower product differentiation. The
industry is dominated by players operating in the small and medium
scale sector, resulting in high fragmentation and intense
competition. These players mainly cater to regional demand and
enjoy the benefits of lower cost in terms of proximity to customers
and raw material suppliers.

Key Rating Strengths

Experienced of promoters: UNO was incorporated as a partnership
firm and currently it has been managed by three active partners
named Mr. Siddharth Dave, Mr. Shail Mavani and Ms. Rupali Mavani.
Promoters have vast experience in chemical industry.

Comfortable capital structure: As on March 31, 2018, capital
structure of UNO remained comfortable marked by overall gearing
ratio of 0.98x as against 0.08x as on March 31, 2017 mainly due to
lower debt outstanding on account of absence of external bank
borrowings.

Reputed clientele: UNO holds reputed clientele base in its customer
portfolio that belong to various industries like oil and chemicals,
having a sound credit profile. The top five customers contributed
about 90% of total operating income during FY18.

Mumbai-(Gujarat) based UNO Formulations (UNO) was incorporated as a
partnership firm in 2012. UNO has started its operations from
August 2014. Currently the firm is managed by Mr. Siddharth Dave,
Mr. Shail Mavani, Ms. Rupali Mavani and Ms. Pravina Dave.

UNO is engaged in contract manufacturing of aerosol based products.
The product manufactured by UNO is catering demands to the various
segments like Industrial, Automotive, MRO, Insecticide, Shoe Care,
Household and Personal Care. UNO has a manufacturing facility in
Dombivali area, Mumbai and currently they are establishing a new
plant in Dadra Nagar Haveli. Currently UNO is operating from its
manufacturing facility in Mumbai (Maharashtra) having installed
capacity of 3 lakh cans per month as on March 31, 2018. UNO also
has an associate concern named Chemotech Solutions engages into
same line of business of since 2008 and catering to the demands of
only one client Pidilight.

VANILLA CLEAN: Ind-Ra Downgrades Debt Facilities Rating to 'D'
--------------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded the ratings on
Vanilla Clean Power Private Limited's (VCPPL) debt facilities to
'IND D' from 'IND B-'. The Outlook on the earlier rating was
Negative.

The detailed rating actions are:

-- INR2.3 bil. Term loan (Long-term) due on June 30, 2030
     downgraded with IND D rating; and

-- INR210 mil. Overdraft (Long-term) downgraded with IND D
     rating.

KEY RATING DRIVERS

The downgrade reflects VCPPL's delays in debt servicing in April
2019, the continued strained liquidity of the sponsor, non-creation
of the stipulated debt service reserve as per the financing
documents, and unavailability of surplus cash flows from the
holding company (Leap Green Energy Pvt. Ltd).

RATING SENSITIVITIES

Positive:  Timely debt servicing for three consecutive months will
be positive for the rating.

COMPANY PROFILE

Vanilla Clean Power is a special purpose vehicle formed by Leap
Green Energy to operate two wind farms in Jaisalmer, Rajasthan.
These plants were acquired from Inox Renewables (Jaisalmer) Limited
on a slump sale basis in August 2017.

ZUARI AGRO: Ind-Ra Lowers Long Term Issuer Rating to 'D'
--------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded Zuari Agro
Chemicals Limited's (ZACL) Long-Term Issuer Rating to 'IND D' from
'IND BB+'.

The instrument-wise rating actions are:

-- INR1.30 bil. Long-term loan due on November 2023 downgraded
     with IND D rating.

Analytical Approach: Ind-Ra continues to take a consolidated view
of ZACL, its subsidiaries - Mangalore Chemicals and Fertilizers
Limited (MCFL) and Adventz Trading DMCC, and its joint ventures -
Zuari Maroc Phosphates Private Limited and MCA Phosphates Pte
Limited, while arriving at the ratings. The consolidation has been
done through the addition of the share of profit from these joint
venture partners to the consolidated profit before tax of ZACL.
ZACL holds 53.03% share in MCFL and 100% in Adventz Trading DMCC.
Furthermore, both MCFL and ZACL are in a similar line of business
and have several operational and financial linkages.

The downgrade reflects ZACL's overutilization of its cash credit
limits for more than 30 days owing to the devolvement of a series
of letters of credit (LC) during April 2019 and May 2019. These
were attributed to high subsidy receivables and a significant
decline in ZACL's operating performance during 3QFY19-4QFY19,
leading to deterioration in its liquidity position.

KEY RATING DRIVERS

Delays in Subsidy Receipts Impacts Credit Profile: Consolidated
subsidy receivables increased to INR28.15 billion at FYE19 (FYE18:
INR25.0 billion) owing to an increase in the average pooled gas
prices by about 35% YoY to USD12.3/mmbtu. The delay in receipt of
subsidy has been an industry-wide phenomenon with cumulative
subsidy outstanding estimated at INR300 billion at FYE19.

The increase in subsidy receivables led to additional borrowings by
ZACL, leading to a rise in the consolidated gross debt to INR50.7
billion at FYE19 (FYE18: INR45.1 billion). The increased working
capital borrowings also led to a rise in the interest expenses to
INR4.9 billion in FY19 (FY18: INR4.0 billion). Consequently, the
consolidated net leverage (total adjusted net debt/operating
EBITDA), adjusted for subsidy receivables, deteriorated to 5.9x in
FY19 (FY18: 3.3x) and the consolidated gross interest coverage
(operating EBITDA/interest expense) to 0.8x (1.6x).

Subdued Performance in FY19: Despite the increase in consolidated
revenue to INR81.0 billion in FY19 (FY18: INR72.6 billion), the
consolidated EBITDA declined to INR3.7 billion (INR5.7 billion)
because of an increase in raw material cost, primarily phosphoric
acid and ammonia. ZACL's key markets Maharashtra, Karnataka, and
Andhra Pradesh, which contribute around 80% of its sales, witnessed
low or no rainfall in 2018, leading to the drought-like situation
in several districts. As a result, ZACL was unable to pass on the
increase in the raw material cost to the end-consumers, leading to
margin compression in FY19. ZACL's profitability was also impacted
because of the closure of its ammonia and urea plants in Goa for
nearly 53 days in October-November 2018 for annual maintenance
activities.

RATING SENSITIVITIES

Positive: Timely debt servicing for three consecutive months would
be positive for the ratings.

COMPANY PROFILE

Originally founded in 1967, ZACL was formed in 2012, following the
demerger of Zuari Industries Limited into ZACL and Zuari Global
Limited. ZACL is now the flagship company of Adventz Group
(formerly KK Birla Group) and an agricultural conglomerate. The
company is mainly present in the fertilizer sector in Maharashtra,
operating in both urea and NPK segments. Its products are branded
under the name Jai Kisaan, which has strong brand recall among
farmers.

A part of the Adventz Group and a direct subsidiary of ZACL, MCFL
manufactures both urea and complex fertilizers in Karnataka. MCFL
has the annual capacity to manufacture 0.2 million mt ammonia,
0.38mt urea, 0.28mt phosphatic fertilizers (DAP and NPKS
20:20:00:13), among others.



=====================
N E W   Z E A L A N D
=====================

LOCHAR ESTATE: Liquidator's Bid for Summary Judgment Nixed
----------------------------------------------------------
Simon Hartley at Otago Daily Times reports that the long-running
liquidation of winery Lochar Estate in Central Otago may yet be
headed to the High Court, following dismissal of an application for
a summary judgement over an alleged NZ$400,000 debt.

At the centre of the dispute is the definitions behind the
transaction of the NZ$400,000, at times labelled "problematic" and
"arguable" through to "shambolic" record keeping.

Lochar Estate had defaulted on interest payments on a loan from
Nelson-based FICO Finance, which was owed NZ$639,526.

A receiver was appointed in September 2014 and its liquidation was
overseen by Robert W. Walker Chartered Accountant, of Wellington,
starting December 2014, ODT notes.

Lochar was incorporated under the name Bannock Brae Vineyards Ltd
in December 2009, and one of its directors and shareholders was
Jamie Donaldson.

According to the report, a May 16 decision from the High Court at
Wellington has just been released, in which Lochar liquidator
Robert Walker sought to sue Mr. Donaldson to recover an alleged
debt of NZ$400,000, which was a payment made to purchase 420 shares
in Lochar Estate.

In Mr. Walker's latest six-monthly report on the liquidation, he
noted in April he had "initiated legal action" against a
shareholder, over "a debt due and payable to the company
[Lochar]".

ODT relates that Mr. Walker said while the summary judgement had
been dismissed, his options now were "to either go to full trial or
seek [out of court] settlement discussions".

In his decision, associate Judge Kenneth Johnston said Mr.
Donaldson and another shareholder had share capital of 1000
shares.

The company was incorporated to establish a vineyard in order to
sell wine into Asia, and it was "envisioned from the outset" that
would attract foreign investors.

According to ODT, Judge Johnstone said Lochar purchased an 18ha
vineyard from John and Anne Cook for NZ$950,000-NZ$550,000 cash and
the balance being 420 of the 1000 original shares, transferred to
the Cooks.

There was a shareholder agreement in place, the report notes.

ODT says any time in the next three years Lochar's other
shareholders could buy back the Cook's shares at an agreed price--a
"call option".

After those three years the Cooks were entitled to buy the other
shareholders' stakes at an agreed price--a "put option".

"There are two equally arguable, if equally problematic,
interpretations of the put transaction," ODT quotes Judge Johnston
as saying.

However, just before the end of the three years, overseas investors
owned 24.9% of Lochar, but Lochar's performance as a company was
not as shareholders "might have hoped", the judge, as cited by ODT,
said.

Mr. Donaldson corresponded with overseas shareholders, looking to
repurchase the Cooks' shareholding for NZ$400,000.

There ensued a complicated process to raise offshore funds, largely
from Hong Kong, and ultimately the Cooks paid NZ$380,000, not
NZ$400,000, and their shares went to Mr Donaldson.

"That summary of facts brings me to the heart of the case, the
proper characterisation of the various transactions," Judge
Johnston said, ODT relays. "To be blunt, the way in which the
original transaction and the exercise of the put option were
recorded in Lochar's financial records was shambolic."

He noted neither Mr. Walker nor Mr. Donaldson contended the
financial records reflected the situation "accurately", ODT
relays.

There were loan terms to be considered, what was meant by "vendor
loans" and "shareholder loans" and issues of where payments lay in
trust, he said.

In my judgement, this is not a case that can be resolved on
affidavit evidence."

He dismissed Mr. Donaldson's application for a summary judgement.

The company's assets at point of liquidation were stock bulk and
bottled wines, and after receivership costs, about NZ$600,000 was
handed to the liquidator. In April 2014 all assets were NZ$1.22
million, less all liabilities of NZ$1.99 million, leaving a loss of
NZ$768,449, ODT discloses.



=====================
P H I L I P P I N E S
=====================

RURAL BANK OF GUIHULNGAN: Placed Under PDIC Receivership
--------------------------------------------------------
The Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP)
prohibited Rural Bank of Guihulngan (Negros Oriental), Inc. from
doing business in the Philippines through MB Resolution No. 754.A
dated May 23, 2019 which also directed the Philippine Deposit
Insurance Corporation (PDIC) as Receiver to proceed with the
takeover and liquidation of Rural Bank of Guihulngan. PDIC took
over the bank on May 24, 2019.

Rural Bank of Guihulngan is a single-unit rural bank located at
Sikatuna St., Poblacion, City of Guihulngan, Negros Oriental.

Latest available records show that as of March 31, 2019, Rural Bank
of Guihulngan has 933 deposit accounts with total deposit
liabilities of PhP5.95 million, of which 99.85% or PhP5.94 million
are insured deposits.

PDIC assured depositors that all valid deposits and claims shall be
paid up to the maximum deposit insurance coverage of PhP500,000.00.
Individual account holders of valid deposits with balances of
PhP100,000.00 and below do not need to file deposit insurance
claims, provided they have no outstanding obligations or have not
acted as co-makers of obligations with Rural Bank of Guihulngan.
These individual depositors must ensure that they have complete and
updated addresses with the bank. PDIC representatives will be
distributing Mailing Address Update Forms at the bank premises and
depositors may submit the forms until May 29, 2019.

For business entities and all other depositors who are required to
file claims for deposit insurance, the schedule for filing of
claims will be announced through posters in the bank premises and
in other public places, the PDIC website www.pdic.gov.ph, and
PDIC’s official Facebook account.

PDIC also reminded borrowers to continue paying their loan
obligations with the closed Rural Bank of Guihulngan and to
transact only with designated PDIC representatives at the bank
premises.

For more information on the requirements and procedures for filing
of claims for deposit insurance and settlement of loan obligations,
all depositors and borrowers of the bank are enjoined to attend the
Depositors-Borrowers’ Forum on June 4, 2019. Details will be
posted in the bank premises and in other public places.

Pursuant to Section 13 of R.A. 3591, as amended, PDIC shall
likewise accept Letters of Intent from interested banks and
non-bank institutions for possible Purchase of Assets and
Assumption of Liabilities (P&A) as a mode of liquidating Rural Bank
of Guihulngan within sixty (60) days from PDIC takeover subject to
compliance with the requirements prescribed under the Guidelines in
Pre-qualifying Proponents and Evaluating the Proposals for Purchase
of Assets and Assumption of Liabilities Mode of Liquidating Closed
Banks posted in the PDIC website.



=================
S I N G A P O R E
=================

HYFLUX LTD: Utico Dangles Offer of 'Part Cash Redemption'
---------------------------------------------------------
Grace Leong at The Straits Times reports that United Arab
Emirates-based utility Utico is offering some reprieve to the
beleaguered 34,000 retail perpetual securities and preference (PNP)
shareholders now trying to recover around SGD900 million they
invested in Hyflux.

According to the report, Utico chief executive Richard Menezes said
in a statement on May 26 that the firm was offering "part cash
redemption and also a hope for full redemption with a plan and exit
option".

"Full details can only be revealed later, but . . . small investors
of up to SGD2,000 to SGD3,000 could get 50 per cent cash redemption
along with full redemption opportunity, while the rest of the
investors could get a similar, but staggered and cascade deal."

The Straits Times relates that Mr. Menezes said he made this offer
at a meeting last week with the Securities Investors Association
(Singapore) (Sias), Utico advisers White & Case, Emirates NBD
Capital and Hyflux financial and legal advisers, among others.

Utico also said a townhall meeting for perpetual and preference
shareholders will be planned with Sias.

But Mr Menezes said this meeting is "predicated on Hyflux signing a
binding agreement, and subject to the High Court granting a
moratorium to complete a desirable restructuring in time," the
report relays.

He added that the company was "working towards investing in Hyflux
as a going concern and not as a bankrupt organisation. This can be
possible only by retaining the goodwill of all stakeholders," adds
The Straits Times.

This offer comes three days before a High Court hearing on May 29
on whether debt-ridden Hyflux will get a further reprieve from
creditors, the report notes.

According to the report, Justice Aedit Abdullah had stated in a
court hearing earlier this month that "the moratorium is not likely
to be as long as it used to be and I may attach conditions".

These include "disclosure of running costs of the company,
including all of its restructuring efforts, and a timeline given to
me of the expected completion of restructuring effort . . . leading
up to a possible scheme application and some assurance of
continuing engagement with various creditors".

The Straits Times adds Mr. Menezes said "all investors will have an
opportunity to get their money back . . . if they support the
deal".

He added that this offer is made only to the junior creditors and
not senior creditors as "they took an active business risk with
ringside view, whereas PNP investors took a passive blind faith
risk".

"Neither coupon nor principal was guaranteed in the offer
prospectus and while trading at SGX, and morally, there remains
some responsibility from Hyflux for the PNP predicament," he said.

Mr. Menezes said that if Utico gets PNP support for the deal, it
could consider listing in Singapore and "put some skin in the
game," The Strait Times reports.

                           About Hyflux

Singapore-based Hyflux Ltd -- https://www.hyflux.com/ -- provides
various solutions in water and energy areas worldwide. The company
operates through two segments, Municipal and Industrial. The
Municipal segment supplies a range of infrastructure solutions,
including water, power, and waste-to-energy to municipalities and
governments. The Industrial segment supplies infrastructure
solutions for water to industrial customers.  It employs 2,300
people worldwide and has business operations across Asia, Middle
East and Africa.

As reported in the Troubled Company Reporter-Asia Pacific on May
24, 2018, Hyflux Ltd. said that the Company and five of its
subsidiaries, namely Hydrochem (S) Pte Ltd, Hyflux Engineering Pte
Ltd, Hyflux Membrane Manufacturing (S) Pte. Ltd., Hyflux Innovation
Centre Pte. Ltd. and Tuaspring Pte. Ltd. have applied to the High
Court of the Republic of Singapore pursuant to Section 211B(1) of
the Singapore Companies Act to commence a court supervised process
to reorganize their liabilities and businesses.

The Company said it is taking this step in order to protect the
value of its businesses while it reorganises its liabilities.

The Company has engaged WongPartnership LLP as legal advisors and
Ernst & Young Solutions LLP as financial advisors in this process.



=============
V I E T N A M
=============

BANK FOR INVESTMENT: S&P Withdraws 'BB-' LT Issuer Credit Rating
----------------------------------------------------------------
S&P Global Ratings said that it had withdrawn its 'BB-' long-term
and 'B' short-term issuer credit ratings on Joint Stock Commercial
Bank for Investment and Development of Vietnam (BIDV) at the
issuer's request.

The outlook on the long-term rating was stable at the time of the
withdrawal.

The ratings on BIDV reflected the bank's strong franchise, and
satisfactory profitability and asset quality relative to that of
peers in Vietnam. The rating benefited from two notches of
government support, given the bank's size, government ownership,
and systemic importance to Vietnam's banking system.




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

[*] BOND PRICING: For the Week May 20, 2019 to May 24, 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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