TCRAP_Public/190820.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, August 20, 2019, Vol. 22, No. 166

                           Headlines



A U S T R A L I A

CJS GROUP: First Creditors' Meeting Set for Aug. 29
COUNTRY SOLAR: Second Creditors' Meeting Set for Aug. 27
JTS GROUP: Second Creditors' Meeting Set for Aug. 26
NORNICO PTY: First Creditors' Meeting Set for Aug. 28
PARKWEST FABRICATIONS: First Creditors' Meeting Set for Aug. 23

PREMIER DEVELOPMENTS: Second Creditors' Meeting Set for Aug. 27
SPHERE HEALTHCARE: First Creditors' Meeting Set for Aug. 28
[*] Australian SMEs Worried About the Economy as Defaults Spike


C H I N A

GCL NEW: Moody's Reviews B2 CFR for Downgrade on Refinancing Risk
RONSHINE CHINA: Fitch Hikes LongTerm IDR to BB-, Outlook Stable
YANCHENG ORIENTAL: Fitch Affirms BB- LT IDRs, Outlook Stable
[*] Chinese New Bond Yield Gap Hides Debt Risks as Defaults Rise


I N D I A

CRACKERS INDIA: CRISIL Maintains 'D' Ratings in Not Cooperating
DASHMESH EDUCATIONAL: Ind-Ra Keeps BB+ Rating in Non-Cooperating
F. ROBIN POLYMERS: CRISIL Lowers Ratings on INR20cr Loans to 'D'
G3 MOTORS: CRISIL Cuts Ratings on INR50cr Loans to 'D'
GAYATRI COTTON: CRISIL Lowers Ratings on INR10cr Loans to 'D'

IL&FS: 55 of 169 Domestic Units Self-Sustainable, RP Report Says
MACROTECH DEVELOPERS: Fitch Lowers Issuer Default Rating to B-
MANGALAGIRI TEXTILE: CRISIL Keeps 'D' Ratings in Not Cooperating
N.S.K. BUILDERS: CRISIL Maintains 'D' Ratings in Not Cooperating
NEEV INFRASTRUCTURE: CRISIL Keeps 'D' Ratings in Not Cooperating

NV AUTOSPARES: CRISIL Maintains 'D' Ratings in Not Cooperating
OOSH: Fashion Entrepreneur Shuts Shops; 40 Workers to Lose Jobs
PARAS FOODS: CRISIL Keeps D on INR9cr Loans in Non-Cooperating
PC GLOBAL: CRISIL Keeps D on INR9cr Loans in Not Cooperating
PLAZA COMPUTERS: CRISIL Keeps D on INR7cr Debt in Not Cooperating

PLAZMA TECHNOLOGIES: CARE Lowers Rating on INR2.63cr Loan to D
RAGHAV COTSPIN: CRISIL Lowers Ratings on INR30cr Loans to 'D'
RAJASTHAN FASTENERS: CRISIL Keeps 'D' Ratings in Not Cooperating
ROJER MATHEW: CRISIL Keeps D on INR19cr Loans in Not Cooperating
ROMEGA FOAM: CRISIL Maintains 'D' Ratings in Not Cooperating

RUDRANEE INFRASTRUCTURE: CRISIL Keeps D Ratings in Not Cooperating
SARAL HOME: Ind-Ra Affirms 'BB+' Rating on INR43.45MM Loan
SCAN ENERGY: CRISIL Keeps D Loan Ratings in Not Cooperating
SEIRIS FLEX: Insolvency Resolution Process Case Summary
SHANKER COTGIN: CRISIL Keeps D on INR8cr Loans in Not Cooperating

SHREE BISHNU: CRISIL Keeps D on INR8.35cr Loan in Not Cooperating
SHREE DWARKADHISH: CRISIL Keeps D on INR10cr Debt in NonCooperating
SIPANI ONLINE: Insolvency Resolution Process Case Summary
SOVEREIGN DEVELOPERS: Insolvency Resolution Process Case Summary
SRI LAKSHMI: Insolvency Resolution Process Case Summary

SRI SUNFLOWER: CRISIL Keeps D on INR12cr Loan in Not Cooperating
STAR AQUA: CRISIL Keeps D Ratings on Non-Cooperating
SUBHKARAN AND SONS: CRISIL Keeps 'D' Rating in Not Cooperating
SUPER INFRATECH: CRISIL Maintains 'D' Ratings in Not Cooperating
SUPER SPINTEX: Ind-Ra Assigns BB LT Issuer Rating, Outlook Stable

SUPERWAYS ENTERPRISES: CRISIL Keeps 'D' Rating in Not Cooperating
V. M. STAR: CRISIL Keeps D on INR15cr Loan in Non-Cooperating
V.R.N. ENTERPRISES: CRISIL Keeps D Loan Rating in Not Cooperating
VINDHYABASINI RICE: CRISIL Keeps 'D' Ratings in Not Cooperating
VIZEBH AGRI: CARE Keeps D on INR11.87cr Loans in Non-Cooperating



N E W   Z E A L A N D

MAINZEAL PROPERTY: Richard Yan to Resist Bankruptcy


S I N G A P O R E

VIBRANT GROUP: Issues Disclaimer of Opinion on FY2019 Financials


X X X X X X X X

[*] BOND PRICING: For the Week Aug. 12, 2019 to Aug. 16, 2019

                           - - - - -


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

CJS GROUP: First Creditors' Meeting Set for Aug. 29
---------------------------------------------------
A first meeting of the creditors in the proceedings of CJS Group
Sydney Pty Ltd, trading as Euromarque Sydney, will be held on Aug.
29, 2019, at 11:00 a.m. at Level 7, at 151 Castlereagh Street, in
Sydney, NSW.  

Shumit Banerjee and Jason Lloyd Porter of SV Partners were
appointed as administrators of CJS Group on Aug. 19, 2019.

COUNTRY SOLAR: Second Creditors' Meeting Set for Aug. 27
--------------------------------------------------------
A second meeting of creditors in the proceedings of Country Solar
NT Pty Ltd has been set for Aug. 27, 2019, at 10:30 a.m. at
Paspalis Centrepoint, Level 1, at 48-50 Smith Street, in Darwin,
NT.

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 Aug. 26, 2019, at 5:00 p.m.

Richard Albarran, Kathleen Vouris and Cameron Shaw of Hall Chadwick
were appointed as administrators of Country Solar on July 19, 2019.

JTS GROUP: Second Creditors' Meeting Set for Aug. 26
----------------------------------------------------
A second meeting of creditors in the proceedings of JTS Group
Services Pty Limited has been set for Aug. 26, 2019, at 11:00 a.m.
at the offices of Chartered Accountants Australia and New Zealand,
Level 13, at 1 Eagle 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 Aug. 23, 2019, at 5:00 p.m.

Trajan John Kukulovski of Chan & Naylor was appointed as
administrator of JTS Group on July 22, 2019.

NORNICO PTY: First Creditors' Meeting Set for Aug. 28
-----------------------------------------------------
A first meeting of the creditors in the proceedings of Nornico Pty
Ltd will be held on Aug. 28, 2019, at 10:00 a.m. at Level 7, at 175
Eagle Street, in Brisbane, Queensland.

Anthony Norman Connelly and William James Harris of McGrathNicol
were appointed as administrators of Nornico Pty on Aug. 16, 2019.

PARKWEST FABRICATIONS: First Creditors' Meeting Set for Aug. 23
---------------------------------------------------------------
A first meeting of the creditors in the proceedings of Parkwest
Fabrications Pty Ltd will be held on Aug. 23, 2019, at 11:00 a.m.
at Room 10, Level 36 Tower Two, Collins Square, at 727 Collins
Street, in Melbourne, Victoria.

John Ross Lindholm of KPMG was appointed as administrator of
Parkwest Fabrications on
Aug. 14, 2019.

PREMIER DEVELOPMENTS: Second Creditors' Meeting Set for Aug. 27
---------------------------------------------------------------
A second meeting of creditors in the proceedings of Premier
Developments Pty. Ltd. has been set for Aug. 27, 2019, at 2:30 p.m.
at Level 12, at 460 Lonsdale Street, in Melbourne, Victoria.

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 Aug. 26, 2019, at 4:00 p.m.

Malcolm Kimbal Howell of Jirsch Sutherland was appointed as
administrator of Premier Developments on July 23, 2019.

SPHERE HEALTHCARE: First Creditors' Meeting Set for Aug. 28
-----------------------------------------------------------
A first meeting of the creditors in the proceedings of Sphere
Healthcare Pty Ltd and Tabco Pty Ltd will be held on Aug. 28, 2019,
at 12:00 p.m. at the Terrace Room 3, Level 1, Mercure Liverpool, at
424-458 Hoxton Park Road, in Prestons, NSW.

Philip Quinlan of KPMG Australia was appointed as administrator of
Sphere Healthcare on Aug. 16, 2019.


[*] Australian SMEs Worried About the Economy as Defaults Spike
---------------------------------------------------------------
Matthew Elmas at SmartCompany reports that Australian small
business owners are feeling more confident in the wake of the
federal election, but are concerned about the prospects for the
economy over the next 12 months as company defaults spike.

As talks of a possible recession swirl in the United States and
Australia's central bank continues its struggle to lift inflation,
84% of business owners feel Australia's economy is either
effectively at a standstill or is about to slow down, SmartCompany
discloses citing Sensis' August business index, released on
Aug. 19.

According to SmartCompany, the findings, drawn from a survey of
about 1,000 SME owners in late-July, reveal worries about the
economy aren't necessarily tempering confidence though, with
one-in-two respondents confident in their prospects despite
economic worries.

But that go-get-em attitude isn't shared by everyone, with the
survey finding one-in-five businesses in the hospitality and retail
sectors are "fairly or extremely worried" about the coming 12
months, the report relates.

SmartCompany says conditions have been particularly tough in both
the retail and hospitality sectors as of late, with economic
headwinds combining with broader market disruption to spell
disaster for many businesses.

Ongoing difficulty accessing finance, an increase in the price of
goods for 36% of respondents and ongoing gripes about "excessive
red tape" were cited as impediments by respondents to the August
index, the report states.

According to SmartCompany, an expansion of the instant asset
write-off, AUD2.1 billion in funding commitments for improving
access to finance for SMEs and efforts to improve dispute
resolution for small business have been billed as cornerstones of
the Coalition's SME agenda.

However, the Sensis' index, continuing to track a growing
perception among business owners that federal government policy
isn't hitting the mark, found more than a third believe those
policies are having "no impact".

A further 22.9% said government policies are actually "working
against" small business, while just over 21% said their policies
were supportive.

"Over the years, we have seen a growing perception among SMBs that
Federal Government policies do not affect them and our latest index
further cements this," Sensis chief executive John Allan said in a
statement circulated on August 19, SmartCompany relays.

SmartCompany meanwhile reports that a separate analysis of ASIC
insolvency data for the June quarter published by credit giant
Equifax on August 19 has tracked a 15% spike in company
administrations.

SmartCompany relates that the worrying findings bring annual growth
of company defaults to 5% year-on-year, with the construction and
healthcare sectors struggling in particular.

According to the report, Equifax said a deterioration in trading
conditions and firm profitability is behind the spike, with
defaults up 8% year-on-year in NSW and Victoria.

There was, however, some positive news for the retail sector, with
defaults actually decreasing for the sector in the June quarter,
down 1% year-on-year.

"While retail is doing it tough and the overall retail environment
remains subdued, five of the six retail trade categories
experienced small improvements in turnover for the June quarter,"
Equifax's Brad Walters said in a statement circulated on August 19.



=========
C H I N A
=========

GCL NEW: Moody's Reviews B2 CFR for Downgrade on Refinancing Risk
-----------------------------------------------------------------
Moody's Investors Service has placed on review for downgrade the B2
corporate family rating and B3 senior unsecured debt rating of GCL
New Energy Holdings Limited.

The outlook was changed to ratings under review from negative.

RATINGS RATIONALE

"The rating review reflects the significant refinancing risk that
GCL New Energy faces, with material debt falling due in the
remainder of 2019, and with limited visibility around committed
refinancing," says Ivy Poon, a Moody's Vice President and Senior
Analyst.

Prior to the rating action, the outlook on the ratings was
negative, reflecting these concerns.

Moody's estimates that GCL New Energy has at least RMB6.2 billion
of debt maturing through December 2019, with the majority due in
the next 1-2 months.

However, the company has not yet secured meaningful credit
facilities to address these large refinancing needs. While Moody's
understands that GCL New Energy has been in discussion with several
financial institutions, uncertainty remains over the timing and
size of any new funding to be obtained.

Moody's notes the co-operation intent agreement between GCL-Poly
Energy Holdings Limited (GCL New Energy's parent) and China Huaneng
Group Co., Ltd, which was announced in June 2019. The co-operation
intent agreement includes the potential for China Huaneng acquiring
a majority stake in GCL New Energy.

"However, there is no assurance at this stage that a transaction
will materialize in the short term," Poon says, adding "Should a
transaction materialize, there is uncertainty about its form, and
ultimate impact on GCL New Energy."

Until such time, GCL New Energy's credit profile remains
constrained by its high near-term refinancing challenges.

Moody's review will primarily focus on GCL New Energy's plan to
secure committed funding to refinance or repay the maturing debt
over August-December 2019. The review will also consider progress
made on the potential transaction with China Huaneng and its impact
on GCL New Energy.

The principal methodology used in these ratings was Unregulated
Utilities and Unregulated Power Companies published in May 2017.

GCL New Energy Holdings Limited is a privately-owned solar power
generation company in China. The company's installed capacity
totaled 7.3GW at December 31, 2018.

GCL New Energy was 62.28% owned by GCL-Poly Energy Holdings Limited
at end 2018. GCL New Energy is the sole downstream platform of its
parent company.

Founded in 1996, GCL-Poly Energy Holdings Limited is an integrated
solar photovoltaic company.

RONSHINE CHINA: Fitch Hikes LongTerm IDR to BB-, Outlook Stable
---------------------------------------------------------------
Fitch Ratings has upgraded China-based homebuilder Ronshine China
Holdings Limited's Long-Term Foreign-Currency Issuer Default
Rating, senior unsecured rating and the rating on its outstanding
US dollar senior notes to 'BB-' from 'B+'. The Outlook is Stable.

The upgrade reflects the sustained improvement in Ronshine's
financial profile since 2018; leverage, measured by net
debt/adjusted inventory, improved to 43% in 1H19, from 59% in 2017,
on slowing land acquisition and healthy margins. Fitch believes the
company has the incentive and ability to keep leverage below 45%,
supported by its quality land bank, which is sufficient for
development over the next three to four years and allows for
flexibility in land acquisition.

KEY RATING DRIVERS

Commitment to Deleveraging: Fitch expects leverage - measured by
net debt/adjusted inventory, including guarantees provided to and
net assets of joint ventures and associates -to stay below 45% over
the next two years. Fitch assumes the company will spend around 40%
of attributable sales proceeds to acquire land, as it has
sufficient land bank to support its contracted sales scale with a
moderate sales growth target. Ronshine deleveraged in 1H19 and 2018
and management says it is committed to optimising its debt
structure and lowering funding costs.

High Quality, Diversified Land Bank: Fitch expects Ronshine's
diversified land bank and focus on higher-tier cities to support
the company's sales growth over the next 12-18 months, as Fitch
believes there is still a pool of pent-up demand in these cities.
Ronshine had attributable land bank of 14.1 million square metres
(sq m) at end-1H19, up from 12.9 million sq m at end-2018. Its land
bank portfolio is well-diversified after acquiring Hailiang Group
in 2H17 and entering six new cities in 2018. Ronshine's projects
cover 44 cities across China, with a focus on tier one and two
cities, which accounted for 70% of its land bank by area as at
end-June 2019.

Moderate Sales Growth: Fitch estimates that Ronshine will achieve
10% sales growth in 2019 in light of its diversified and quality
land bank as well as sellable resources of CNY120 billion available
in 2H19. The company saw sales growth of 6.0% to CNY65.6 billion in
7M19; this followed a 11% increase in gross floor area sold, which
was offset by a 4.3% fall in the average selling price (ASP), as a
slightly larger portion of sales came from projects with lower a
ASP than in the same period last year. Fitch expects the moderate
sales growth to support Ronshine's deleveraging, as it will not
need to aggressively increase land reserves or accept unfavourable
land prices to support sales growth and maintain a healthy land
bank life.

Healthy Margin: Fitch sees Ronshine's land cost as competitive
given its high-quality land bank and believe it will maintain an
EBITDA margin of 28%-30%. Ronshine has been securing low-cost
primary and secondary co-development projects in the cities of
Zhengzhou in Henan province and Taiyuan in Shanxi province since
2016 and continues to co-operate with large developers to bid for
land in high-tier cities to limit competition and acquire land at
reasonable prices in auctions. Its EBITDA margin, after adding back
capitalised interest in cost of goods sold (COGS) and excluding the
revaluation effect of M&A, was a high 30% in 1H19. Its average land
bank cost of CNY6,356/sq m accounted for 29% of its contracted ASP
in 2018.

Improving Debt Structure and Liquidity: Ronshine has improved its
debt structure over the year by extending its debt maturity through
a swap of USD390 million in senior notes in February, the early
redemption of a CNY1.8 billion private corporate bond and the
repurchase of its USD65 million 8.25% senior notes due 2021 in
June. Debt maturing in one year fell to 31% of total debt in 1H19,
from 40% in 2018, and its cash/short-term debt ratio improved to
1.7x, from 1.0x.

DERIVATION SUMMARY

Ronshine's attributable contracted sales scale of about CNY60
billion is slightly larger than that of most 'BB-' peers of CNY40
billion-50 billion. Its diversified and quality land bank is
comparable with that of Yuzhou Properties Company Limited
(BB-/Stable). Ronshine's financial profile is also comparable with
that of 'BB-' rated peers, as its leverage has continuously
improving to below 45%.

Ronshine's business scale and asset quality is stronger than that
of 'B+' rated peers, such as Guangdong Helenbergh Real Estate Group
Co., Ltd. (B+/Stable) and Zhongliang Holdings Group Company Limited
(B+/Stable). Ronshine has stronger profitability and lower leverage
than Helenbergh and more sustainable and predictable financials
than Zhongliang.

KEY ASSUMPTIONS

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

  - Contracted sales growth of 10% in 2019 and 8% in 2020
    (1H19: 4%)

  - EBITDA margin, after adding back capitalised interest in COGS,
    of 28%-30% in 2019-2020 (1H19: 30%)

  - Land acquisitions to account for around 40% of contracted
    sales proceeds in 2019-2020 (1H19: 36%)

  - Cash collection rate of around 80% in 2019-2020 (1H19: 80%)

RATING SENSITIVITIES

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

  - Leverage, measured by net debt/adjusted inventory, including
    guaranteed debt for joint ventures and associates, sustained
    below 35% (1H19: 43%)

  - EBITDA margin, after adding back capitalised interest in
    COGS, sustained at 30% or above (1H19: 30%)

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

  - Leverage, measured by net debt/adjusted inventory, including
    guaranteed debt for joint ventures and associates, above
    45% for a sustained period

  - EBITDA margin, after adding back capitalised interest in
    COGS, below 25% for a sustained period

LIQUIDITY

Sufficient Liquidity: Ronshine had a cash balance of CNY31.9
billion at end-1H19, sufficient to cover short-term debt of CNY19.2
billion. In 2019 it issued USD600 million of 11.25% senior
unsecured notes due 2021, USD500 million of 10.5% senior notes due
2022, USD435 million 8.75% senior notes due 2022 and USD300 million
8.95% senior notes due 2023. All issuances were for refinancing
purposes.

FULL LIST OF RATING ACTIONS

Ronshine China Holdings Limited

  - Long-Term Foreign-Currency Issuer Default Rating upgraded to
    'BB-' from 'B+', Outlook Stable

  - Senior unsecured rating upgraded to 'BB-' from 'B+'

  - USD123.63 million 6.95% senior notes due 2019 upgraded to
   'BB-' from 'B+'

  - USD200.00 million 11.50% senior notes due 2020 upgraded to
   'BB-' from 'B+'

  - USD344.59 million 8.25% senior notes due 2021 upgraded to
    'BB-' from 'B+'

  - USD600.00 million 11.25% senior notes due 2021 upgraded to
    'BB-' from 'B+'

  - USD435.00 million 8.75% senior notes due 2022 upgraded to
    'BB-' from 'B+'

  - USD500.00 million 10.50% senior notes due 2022 upgraded to
    'BB-' from 'B+'

  - USD300.00 million 8.95% senior notes due 2023 upgraded to
    'BB-' from 'B+'

YANCHENG ORIENTAL: Fitch Affirms BB- LT IDRs, Outlook Stable
------------------------------------------------------------
Fitch Ratings has affirmed China-based Yancheng Oriental Investment
& Development Group Co., Ltd's Long-Term Foreign- and
Local-Currency Issuer Default Ratings at 'BB-' and removed them
from Rating Watch Negative. The Outlook is Stable.

Fitch placed the Long-Term Foreign- and Local-Currency IDRs of
Yancheng Oriental, together with a number of Chinese
government-related entities, on Rating Watches on April 10, 2019
following the publication of its new local and regional government
criteria.

The rating actions follow Fitch's re-assessment of Yancheng
Oriental's standalone profile, which did not result in an impact on
the IDRs, according to the guideline in its GRE criteria that
determines the notching between the GRE and the LRG sponsor.

Fitch's assessment of Yancheng Oriental as a GRE reflects the
municipality's full ownership and strong oversight over the
company, its record of financial support including subsidies and
capital injections, the company's functional role in the economic
development of the Yancheng Economic-Technical Development Zone
(ETDZ), and the potential implications of a default (in light of
its size relative to the government's functional GREs). These
factors indicate a strong incentive by the sponsor to provide
extraordinary support to Yancheng Oriental, if needed.

Yancheng Oriental is the flagship GRE responsible for the urban
development of the state-level Yancheng Economic-Technical
Development Zone (ETDZ), which is home to one of three Sino-Korean
industrial parks in China. The company's key businesses include
resettlement-housing construction, infrastructure construction, and
property leasing and management within the zone.

KEY RATING DRIVERS

'Strong' Status, Ownership and Control: Fitch believes the Yancheng
municipality's ultimate ownership and oversight of the company
reinforces the government's incentive to provide extraordinary
support. Yancheng Oriental is wholly owned by the ETDZ Management
Committee, a sub-department of the municipality. The management
committee has control over the company's board appointments and
monitors the company's operational and financial performance. The
less-direct shareholding and oversight constrain the attribute
strength.

'Strong' Support Record, Expectations: The government has provided
recurring support, including a combination of annual subsidies, and
capital and asset injections. Fitch believes the steady recurring
support is an indication of future support for Yancheng Oriental.
The company received sizeable annual subsidies of CNY897 million
during 2016-2018, accounting for 102% of pretax profit. Yancheng
Oriental also received CNY500 million in capital injections in
2017, with further injections of CNY3 billion in 2019.

'Moderate' Socio-Political Impact of Default: The attribute
strength reflects Yancheng Oriental's functional role in the
economic development of the ETDZ, although any disruption from a
default is likely to be limited to the zone. The ETDZ accounted for
6.3% of the municipality's gross regional product (GRP) in 2018 and
15.8% after excluding counties. In addition, Yancheng has more than
one urban developer and each is responsible for a specific area.
Hence, Yancheng Oriental's policy role can potentially be
substituted by the city's other GREs.

'Strong' Financial Implications of Default: Yancheng Oriental is
among the larger policy-driven GREs by asset size under the direct
control of the municipality. It also had CNY11.6 billion in
receivables from the management committee (or 30% of total assets)
at end-2018. Fitch believes a default of the company could
potentially damage the government's credibility, as well as the
availability and cost of financing for the city's other GREs.

'b' Category Standalone Credit Profile: Fitch has assessed that
Yancheng Oriental has a weak financial profile, the dominant driver
in its standalone profile. Fitch does not expect the company's
Standalone Credit Profile to materially improve in the absence of
further financial support from the sponsor. Fitch expects the
company's leverage to remain high under its rating case, with a net
debt to EBITDA that is likely to remain above 20x through 2021.

The company's liquidity profile has improved since end-2018, with a
Fitch-estimated combined liquidity of CNY8.4 billion (CNY2.9
billion in unrestricted cash and CNY5.5 billion in uncommitted
undrawn credit facilities) at end-June 2019. This should help
mitigate its refinancing risks in view of its debt maturities over
the next 12 months.

DERIVATION SUMMARY

Yancheng Oriental's IDR was derived from the four factors under
Fitch's GRE rating criteria and the 'b (cat)' SCP under its
Revenue-Supported Rating Criteria.

RATING SENSITIVITIES

Yancheng Oriental's ratings would be affected by a change in
Fitch's perception of Yancheng municipality's ability to provide
support.

Any changes in the municipality's strength of linkage or incentive
to provide support, including changes to the government's
shareholding and control and the company's functional role, could
result in a revision in the attributes under the GRE criteria.

A deterioration in Yancheng Oriental's standalone profile,
including its liquidity, may also have a negative impact.

See Fitch's commentary, "Fitch: China Directive Re-Emphasises
Support is Not Uniform for LGREs", published July 29, 2018.

[*] Chinese New Bond Yield Gap Hides Debt Risks as Defaults Rise
----------------------------------------------------------------
Bloomberg News reports that as China moves toward a more
market-based approach to determining the cost of money in its
economy, one metric suggests corporate debt is going in the
opposite direction.

Some 17% of company bonds in the first half were sold at yields at
least 50 basis points below rates in the secondary market,
Bloomberg discloses citing data from China Chengxin International
Credit Rating Co. That's a jump from 9.9% in the second half of
2018. Globally, only the most in-demand issuers can raise funds in
line with where their existing debt is trading; almost everyone
pays a premium.

Analysts interviewed by Bloomberg said the trend shows the
distorted credit risk pricing as cash-strapped firms turn to opaque
ways to raise funds. One phenomenon is related to a practice known
as structured issuance, where companies subscribe to their own
offerings to inflate demand. It's storing up more mispriced debt in
China's financial system, cutting against efforts to foster markets
where funding costs correspond with a company's prospects.

"A big yield divergence suggests the coupon rate of the new bond
does not reflect the fair market value it is supposed to indicate,
nor the actual risk of the debt," Bloomberg quotes Yang Hao, a
fixed-income analyst at Nanjing Securities Co., as saying in an
interview.

Regulators have been seeking to curb structured sales. Pan
Gongsheng, deputy governor of People's Bank of China, said China
should improve its credit rating and risk pricing mechanisms to
make hidden debt issuance cost more explicit, according to a Caixin
report on Aug. 9, Bloomberg relays.

The yawning gap can be seen in China Wanda Group Co. In July, the
tire maker sold a three-year note with a coupon at 6.8%, Bloomberg
reports citing bond issuance document on the Shenzhen stock
exchange. Its three-year bond due July 2021 traded at about 15.5%
that same day, showing a yield gap of more than 800 basis points,
Bloomberg-compiled prices show.

Oceanwide Holdings Co., which printed a note at 7.5% last month,
saw its similar bonds trading at a yield higher than 20%. Officers
responsible for securities information disclosure at China Wanda
and Oceanwide Holdings declined to comment when contacted by
Bloomberg.

Bloomberg says another contributor to the trend may have been
secondary market distortions caused by the collapse of Baoshang
Bank Co. The shock seizure sparked a wave of risk aversion as bond
defaults in China hit a four-month high, marring refinancing
prospects at weaker firms. The spread between three-year top and
AA- rated corporate bonds reached 263 basis points on Wednesday,
the widest level since March 12, according to data compiled by
Bloomberg.

Secondary market bond yields of some of these companies jumped
higher than their new issuance cost as investors cut their risk
tolerance, said Mei Dongya, executive director at Shanghai Maodian
Asset Management Co., according to Bloomberg. "Some institutions
were selling off bonds in need of cash after the bank seizure
triggered a liquidity crunch," Dongya, relays Bloomberg.

To be sure, structured debt issuance is just one method that
troubled companies adopt to sell debt. "Many investors buying bonds
not only pursue gains, but also out of some non-economic concerns,"
Bloomberg quotes Shen Chen, a partner at Shanghai Maoliang
Investment Management, as saying.

For Lu Lingge, an analyst at China Chengxin, such companies may
find it hard to keep financing sustainable. "To fix the distortion
not only needs a long-term debt pricing mechanism, but more
importantly the information disclosure transparency", she said,
adding that it will improve market efficiency and boost pricing
discovery, adds Bloomberg.



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

CRACKERS INDIA: CRISIL Maintains 'D' Ratings in Not Cooperating
---------------------------------------------------------------
CRISIL said the ratings on bank facilities of Crackers India
(Alloys) Limited (CIAL) continues to be 'CRISIL D/CRISIL D Issuer
not cooperating'.

                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Cash Credit           4        CRISIL C (ISSUER NOT
                                  COOPERATING)

   Proposed Long Term    3.98     CRISIL C (ISSUER NOT
   Bank Loan Facility             COOPERATING)

   Working Capital       2.02     CRISIL C (ISSUER NOT
   Term Loan                      COOPERATING)

CRISIL has been consistently following up with CIAL for obtaining
information through letters and emails dated January 23, 2019 and
July 11, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

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

Detailed Rationale

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

Based on the last available information, the ratings on bank
facilities of CIAL continues to be 'CRISIL C Issuer not
cooperating'.

Established in 2005 by Mr. Srinibash Sahoo, CIAL manufactures
sponge iron, stone chips, iron fines, fly ash bricks, and coal
fines. Since January 2016, the company has also started trading in
high speed diesel, motor spirit, and lubricants of Reliance
Industries Ltd (rated 'CRISIL AAA/Stable/CRISIL A1+').

DASHMESH EDUCATIONAL: Ind-Ra Keeps BB+ Rating in Non-Cooperating
----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has maintained Dashmesh
Educational Charitable 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:

-- INR1,383.6 bil. Term loans due on October 2023 maintained in
     non-cooperating category with IND BB+ (ISSUER NOT
     COOPERATING) rating;

-- INR150 mil. Fund-based working capital facility maintained in
     non-cooperating category with IND BB+ (ISSUER NOT
     COOPERATING) rating;

-- INR177 mil. Non-fund-based facility maintained in non-
     cooperating category with IND A4+ (ISSUER NOT COOPERATING)
     rating; and

-- INR389.40 mil. Proposed fund-based working capital facility
     maintained in non-cooperating category with Provisional IND
     BB+ (ISSUER NOT COOPERATING) rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
August 9, 2017. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.

COMPANY PROFILE

Dashmesh Educational Charitable Trust was incorporated under the
Societies Registration Act, 1860. The trust commenced operations
with Shree Guru Gobind Singh Tricentenary dental college in 2002
and went on to open a 300-bed general hospital in 2005, a medical
college in 2010 and a nursing college in 2012.

F. ROBIN POLYMERS: CRISIL Lowers Ratings on INR20cr Loans to 'D'
----------------------------------------------------------------
CRISIL has downgraded its ratings on the bank facilities of
F. Robin Polymers Private Limited (FRPPL) to 'CRISIL D/CRISIL D'
from 'CRISIL B/Stable/CRISIL A4'.

                      Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Cash Credit           4        CRISIL D (Downgraded from
                                  'CRISIL B/Stable')

   Long Term Loan       11        CRISIL D (Downgraded from
                                  'CRISIL B/Stable')

   Proposed Short Term   5        CRISIL D (Downgraded from
   Bank Loan Facility             'CRISIL A4')

The downgrade reflects instances of delays in the repayment of
interest and instalment on the term loan on account of small scale
and working capital intensive nature of operations, arising from
high receivables.

The ratings also reflect the company's modest scale of operations
and expected average financial risk profile. These weaknesses are
partially offset by the extensive experience of the promoters in
the polypropylene woven bags industry.

Key Rating Drivers & Detailed Description

Weaknesses

* Modest scale of operations: Operating income is expected to
remain small in fiscal 2019 because of initial phase of operation
commercial operations started in June 2018. Although revenue is
expected to increase significantly with full commercialization, the
topline is expected to remain modest in the first year,
constraining the business risk profile.

* Expected average financial risk profile: The financial risk
profile is expected to remain average because of modest networth
and high gearing, due to the nascent stages of operation.

Strength
* Extensive experience of the promoters: Experience of around a
decade though other firms engaged in similar businesses will help
the promoters gauge market potential, calibrate purchase and
stocking decisions, and build healthy relationships with suppliers
and customers.

Liquidity
The liquidity is weak as reflected in delays in the repayment of
the term loans on account of small scale and working capital
intensive nature of operations. The fund based working capital
limits have been utilised extensively, on account of the same.
FRPPL's liquidity is expected to remain weak on account of the
same.

Based in Dindigul (Tamil Nadu), FRPPL was established in 2016 and
has set up a facility to manufacture polypropylene woven bags,
which started commercial operation in June 2018.

G3 MOTORS: CRISIL Cuts Ratings on INR50cr Loans to 'D'
------------------------------------------------------
CRISIL has downgraded its ratings on the bank facilities of
G3 Motors Limited (G3) to 'CRISIL D/CRISIL D' from 'CRISIL
BB/Stable/CRISIL A4+'. The downgrade reflects overdrawing in the
cash credit facility for more than 30 days caused by weak
liquidity.

                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Cash Credit           12       CRISIL D (Downgraded from
                                  'CRISIL BB/Stable')

   Letter of Credit      20       CRISIL D (Downgraded from
                                  'CRISIL A4+')

   Proposed Working      18       CRISIL D (Downgraded from
   Capital Facility               'CRISIL BB/Stable')

The ratings continue to reflect G3's promoters' extensive industry
experience. These rating strengths are partially offset by low
profitability and overutilization in bank lines.

Key Rating Drivers & Detailed Description

Weaknesses:

* Overutilization in bank lines: The bank lines were overdrawn and
were not regularized for more than 30 days for the month of May
2019.

* Low operating profitability: G3 is engaged in automobile
dealership business and hence the value addition is minimal.
Consequently the company has reported operating margin of around
2.1 - 2.5 per cent over the past three years ended FY18.

Strengths:

* Promoters' extensive industry experience and established
relationship with M&M: The promoters of G3, Mr. Sumit Gupta and his
family have been an authorised dealer for M&M vehicles since 2007.
This has enabled them to forge a healthy relationship with the
principal, M&M. This has enabled the company to enhance its revenue
segments.

Liquidity

Bank limit has been over utilized for more than 30 days. The
liquidity is weak as reflected extensive utilization of fund based
working limits, with over utilization of over 30 days. The
company's liquidity is expected to remain weak over the medium
term.
G3, incorporated in 2007 by Mumbai based Gupta family, is an
authorized dealer of Mahindra and Mahindra Ltd (M&M) for sale of
its entire range of personal vehicles and commercial vehicles in
Navi Mumbai. The company has total 3 show rooms and 5 workshops.

GAYATRI COTTON: CRISIL Lowers Ratings on INR10cr Loans to 'D'
-------------------------------------------------------------
CRISIL has downgraded its ratings on the bank facilities of Gayatri
Cotton Mills (GCM) to 'CRISIL D Issuer Not Cooperating' from
'CRISIL BB-/Stable Issuer Not Cooperating'.

The downgrade reflects delays in debt servicing for more than 30
days, because of its stretched liquidity position.

                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Cash Credit            8       CRISIL D (ISSUER NOT
                                  COOPERATING; Downgraded from
                                  'CRISIL BB-/Stable ISSUER NOT
                                  COOPERATING')

   Proposed Long Term     2       CRISIL D (ISSUER NOT
   Bank Loan Facility             COOPERATING; Downgraded from
                                  'CRISIL BB-/Stable ISSUER NOT
                                  COOPERATING')

CRISIL has been consistently following up with GCM for obtaining
information through letters and emails dated March 30, 2019,
June 10, 2019 and June 14, 2019 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

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

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL has
not received any information on either the financial performance or
strategic intent of GSM. This restricts CRISIL's ability to take a
forward-looking view on the credit quality of the entity. CRISIL
has downgraded its ratings on the bank facilities of GCM to 'CRISIL
D Issuer Not Cooperating' from 'CRISIL BB-/Stable Issuer Not
Cooperating'.

The downgrade reflects delays in debt servicing for more than 30
days, because of its stretched liquidity position.

Set up in 2012 as a partnership firm by Mr. Innamuri Bassavaiah and
Mr. Innamuri Subrahmanyam, GCM gins raw cotton at its facility in
Guntur, Andhra Pradesh.

IL&FS: 55 of 169 Domestic Units Self-Sustainable, RP Report Says
----------------------------------------------------------------
Livemint.com reports that of the 169 domestic subsidiaries of the
bankrupt IL&FS Group, the resolution professional has classified 55
as green in its fifth progress report submitted to the National
Company Law Tribunal as none of them had any defaults, pending
overdues, or any issues with cash-flow from its operations.

These 169 entities have been classified into three categories --
green, amber and red -- based on their cash flows in the last 12
months, Livemint.com discloses citing a filing by the RP to the
tribunal on Aug. 14.

As per the filing, 13 entities are classified amber as they are not
able to meet financial obligations during the period and could only
meet operational payments obligations, Livemint.com says.

Further, 82 entities are classified as red, while 8 are going in
for liquidation and classification of 11 are currently underway, it
added.

Livemint.com relates that the IL&FS board, headed by banker Uday
Kotak, also said the 'red' entities owe INR61,375 crore, while the
'amber' entities owe INR16,372.6 crore and 'green' owe INR11,022.9
crore. And the 11 entities yet to be classified, owe a debt of
INR5,895.9 crore.

According to Livemint.com, the progress report also said assets for
which sale process has been launched so far (except certain
non-core assets) account for about INR50,000 crore of the total
outstanding fund-based debt of INR94,000 crore.

Meanwhile, the report mentioned that under manpower optimisation
measures, the total headcount has come down by 36% by June 13, 2019
resulting in 53% cost reduction, the report said without
quantifying the total number of employees or the net remaining now,
Livemint.com says.

For manpower optimisation, the board has identified redundant
roles/functions in respect of eight more verticals/ entities,
including IL&FS, ITNL,IFIN, IL&FS Energy Development Company and
IL&FS Engineering & Construction Company, says Livemint.com.

"The approach used for rationalisation of manpower in these
entities involved undertaking an assessment of viability and
continuation of projects being undertaken by these business
verticals," said the fifth progress report.

Further, the next set of four verticals have been identified, the
results of which will be released in the next few months, it
added.

The manpower optimisation implemented across the group have
cumulatively resulted in a 43% reduction in the headcount between
October 1, 2018 and June 30, 2019 leading to saving of nearly 47%
in the annual wage bill, relays Livemint.com.

The IL&FS board said it has reduced the operating cost for the year
to March 2019 by about 26.22%, Livemint.com adds.

                             About IL&FS

Infrastructure Leasing & Financial Services Limited (IL&FS) --
https://www.ilfsindia.com/ -- is an infrastructure development and
finance company based in India. It focuses on the development and
commercialization of infrastructure projects, and creation of value
added financial services. The company operates in Financial
Services, Infrastructure Services, and Others segments.

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

MACROTECH DEVELOPERS: Fitch Lowers Issuer Default Rating to B-
--------------------------------------------------------------
Fitch Ratings has downgraded India-based real-estate developer
Macrotech Developers Limited's Long-Term Issuer Default Rating to
'B-' from 'B'. Fitch has also downgraded the rating on the
company's USD325 million 12% senior unsecured bond due March 2020,
which was issued by Lodha Developers International Limited and
guaranteed by MDL and certain subsidiaries, to 'B-' with a Recovery
Rating of 'RR4' from 'B'/'RR4'. Fitch has simultaneously placed all
ratings on Rating Watch Negative.

The downgrade is due to the company's weak liquidity management.
MDL, formerly known as Lodha Developers Limited, has relied on
funding from domestic non-bank financial institutions (NBFI),
including housing-finance companies, which are now shying away from
lending to the property sector. The company's refinancing options
have therefore narrowed as the onshore funding squeeze is
coinciding with the maturity of its USD325 million bond.

The change in the domestic funding environment will present the
company with significant challenges in meeting its debt maturities
of INR16 billion in the remainder of the financial year ending
March 2020 (FY20) and INR50 billion in FY21, although it repaid
debt of INR90 billion in FY18 and INR48 billion in FY19 when
liquidity was easier. The risks are mitigated by the appetite of
some domestic banks and alternative financing providers such as
private-equity (PE) funds that continue to lend to the company due
to its strong market position, good quality projects, and large
unencumbered land bank.

The RWN reflects the near-term risk that MDL's ratings could be
downgraded by more than one notch if the company is unable to
refinance or repay the USD325 million bond due March 2020. MDL says
it is in advanced stages of negotiations to secure sufficient funds
to repay the bond and if the company is able to complete the
refinancing, Fitch would consider removing the RWN.

KEY RATING DRIVERS

High Exposure to NBFI Debt: The risks around MDL's ability to meet
domestic debt maturities of INR20 billion, INR50 billion and INR46
billion in FY20, FY21 and FY22, respectively, are rising, following
tighter liquidity among NBFIs, which have been the key funding
source for MDL and other real-estate developers. NBFIs' share of
real-estate sector loans is shrinking, following defaults by two
NBFIs in recent months, leading to tighter liquidity.

Borrowings from NBFIs accounted for 56% of MDL's outstanding
domestic debt at FYE19, and 58% of domestic debt due FY21. Fitch
believes MDL would find it challenging to repay a majority of its
debt through project cash flows as Fitch expects an onshore cash
flow from operations (CFFO) deficit of INR8.5 billion in FY21.

Narrower Funding Options: MDL had INR10.3 billion of committed
undrawn credit lines from banks as of June 30, 2019, and the
company says it secured these facilities to fund construction costs
around six-12 months in advance. The banks' continued provision of
term loans to fund the company's construction costs should help to
partly cover its upcoming funding needs, in its view.

Fitch believes MDL would need to rely on alternative sources such
as PE funds, possibly at a higher cost and under tighter conditions
such as higher collateral cover, to displace its reliance on NBFIs
in meeting its debt repayments. The company may, to a lesser
extent, also have to rely on proceeds from the planned sale of two
domestic commercial assets. MDL says it is currently negotiating a
long-term facility of INR20 billion with an existing PE lender,
which if successful would help mitigate the FY21 debt-repayment
risk.

Large Land Bank: MDL has 3,350 acres of unpledged land at Palava,
India with an enterprise value of INR334 billion, according to an
independent valuation report, implying a price of INR100 million
per acre. The company completed the sale of a parcel of the Palava
land in December 2018 to Piramal and Ivanhoe Cambridge at a similar
price per acre to that of the external valuation. However, the
tighter domestic liquidity for property developers raises the risk
that the unpledged Palava land may yield a lower value should MDL
be required to sell part of it to repay debt, or lenders may
require higher collateral cover to compensate for increased
valuation risk in light of the scarcity of available funds.

Weak Pre-Sales: Lodha sold INR72 billion of property in FY19 in
India, a 12% drop yoy. Fitch believes the lower sales were driven
by demand that was weaker than Fitch had expected and the near-term
effect of a lower goods and services tax on under-construction
properties from FY20, leading to some customers postponing their
purchases. Fitch expects domestic pre-sales to rise to INR76
billion in FY20 and INR79 billion in FY21, supported by demand
growth in the affordable segment amid a substantial housing deficit
and government initiatives. Collections in FY19 were strong at
INR92 billion (FY18: INR91 billion), but are likely to moderate on
weak FY19 domestic pre-sales of INR72 billion (FY18: INR81
billion).

Fitch has lowered its FY20 pre-sales forecast for its London
projects to INR7 billion from INR8 billion (FY19 reported: INR6
billion, FY18: INR24 billion) on heightened uncertainty over
Brexit. Fitch is maintaining its view that FY21 pre-sales in London
will improve from FY20, although its forecast is for INR11 billion
in FY21 pre-sales from an earlier estimate of INR12 billion, as the
Brexit outcome should be known by then, and the construction of the
two projects is expected to be largely completed.

High Leverage: Fitch expects MDL's leverage, measured by net
adjusted debt/adjusted inventory, to remain high at around 80% in
FY20, before improving to 76% in FY21 and 74% in FY22 as the
London-based projects are delivered to customers and cash is
collected. MDL has one of the highest leverage levels among 'B'
category property-developer peers in Asia Pacific, reflecting its
aggressive growth strategy, the construction-linked long collection
cycle of its Indian projects, and collections on its London
projects, which are due only on construction completion. The recent
slowdown in sales is exacerbating the impact on leverage.

DERIVATION SUMMARY

PT Lippo Karawaci TBK's (B-/Stable) rating reflects its strong
liquidity position after the completion of its USD787.5 million
rights issue in July 2019, which provides the Indonesia-based
company with sufficient financing flexibility to meet debt
maturities and operating expenses until end-2020 while it
implements plans to revive its weak property pre-sales at the
standalone company. Lippo's pre-sales are significantly weaker than
that of MDL. However, MDL's near-term liquidity position is
considerably weaker than that of Lippo, which is reflected in MDL's
RWN.

PT Agung Podomoro Land Tbk's (APLN; CCC-) rating reflects its high
near-term refinancing and liquidity risks as it was unable to raise
sufficient funding to meet short-term maturities and fund a
mandatory prepayment of a syndicated loan, leading the lenders to
extend the due date on the prepayment to September 30, 2019. The
risk is worsened by APLN's negative CFFO (after construction costs
and interest payments) in the next 12-24 months. MDL has lower
liquidity risk than APLN as its earliest unfunded debt maturity -
the US dollar bond - is due in March, although the company appears
to be working on securing its repayment in the next three months.
Furthermore, Fitch expects MDL to generate positive CFFO over the
next two-three years. MDL is therefore rated three notches higher
than APLN. MDL's ratings are on RWN as they can be downgraded by
more than one notch if the company fails to achieve its refinancing
plans.

PT Alam Sutera Realty Tbk's (ASRI, B/Stable) ratings are supported
by stable leverage (Fitch forecast of 43% in 2019 and 42% in 2020),
strong pre-sales in 2018 and positive CFFO, a substantial low-cost
land bank, quality assets and an established domestic franchise.
MDL has a strong market position and much larger scale than ASRI,
but its leverage is substantially higher at around 80% and its
liquidity is weaker, which justifies MDL's lower rating.

Oceanwide Holdings Co. Ltd.'s (B-/Stable) poor credit metrics
partly reflect its active investments in financial institutions and
its larger exposure to commercial-development properties with
longer cash-collection cycles. Fitch estimates China-based
Oceanwide's leverage will remain high in the 80% range for the next
few years, similar to that of MDL. However, MDL is facing tighter
liquidity than Oceanwide, which is reflected in the RWN on its 'B-'
rating.

Xinyuan Real Estate Co., Ltd. (B/Negative) is a small regional
developer in China with a need to constantly replenish its land
bank and lower EBITDA margins of around 20%-21% due to its limited
operating scale. MDL has a much stronger business profile with land
reserves of around 4,450 acres in the Mumbai metropolitan region
and EBITDA margins of around 40%, but its leverage of around 80% is
much weaker than Xinyuan's 57% and its liquidity is also tighter,
justifying MDL's lower rating.

KEY ASSUMPTIONS

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

  - Domestic pre-sales of INR76 billion in FY20 and INR79 billion
in FY21 (FY19: INR72 billion)

  - Domestic cash collection of INR90 billion in FY20 and INR88
billion in FY21 (FY19: INR92 billion)

  - Domestic construction costs of INR42 billion in FY20 and INR42
billion in FY21 (FY19: INR44 billion)

  - Domestic cash flow deficit (including debt maturities) of INR3
billion in FY20 and INR37 billion in FY21

  - London property pre-sales of INR7 billion in FY20 and INR11
billion in FY21 (FY19: INR6 billion, FY18: INR24 billion)

  - London property cash collection of INR32 billion in FY20 and
INR28 billion in FY21 (FY19: not applicable)

  - London property construction costs of INR10 billion in FY20
(FY19: INR14 billion)

Recovery Rating Assumptions:

  - The recovery analysis assumes that MDL would be liquidated in a
bankruptcy rather than continue as a going-concern because it is an
asset-trading company. Fitch has assumed a 10% administrative
claim.

  - Fitch has assumed a 75% advance rate against accounts
receivable, which include unbilled revenue that stems from the
completion of construction milestones of property projects.

  - Fitch has assumed an 82% advance rate against the book value of
MDL's consolidated adjusted inventory (including London assets)
compared with a 100% advance rate earlier. Fitch has reduced the
advance rate to reflect the need to potentially cut prices and sell
the inventory faster in a distressed scenario. However, Fitch notes
that MDL reported a gross profit margin of around 50% in recent
years, implying a high market value for its inventory.

  - All of MDL's consolidated debt in FY19, apart from the
outstanding US dollar senior notes, have been treated as
prior-ranking or secured debt, including trade payables.
Prior-ranking debt also assumes the construction loan in London
gets fully drawn down to the GBP807 million limit available.

  - After adjusting for administrative claims, the above estimates
result in a recovery of 100% of MDL's secured debt corresponding to
a 'RR1' Recovery Rating, and recovery of 100% for the senior notes
corresponding to a 'RR1' Recovery Rating. Nevertheless, Fitch has
rated the senior notes 'B-' with a Recovery Rating of 'RR4' because
under Fitch's Country-Specific Treatment of Recovery Ratings
criteria, India falls into 'Group D' of creditor friendliness.
Instrument ratings of issuers with assets in this group are subject
to a soft cap at the issuer's IDR.

RATING SENSITIVITIES

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

  - The rating may be removed from RWN once the company secures
funds to complete its USD325 million refinancing as planned.

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

  - The inability to achieve its refinancing plans may result in a
downgrade of the rating by one or more notches.

LIQUIDITY

Weak Liquidity: MDL has INR20 billion of onshore debt maturities in
FY20, a construction loan of GBP290 million (INR26 billion) due
December 21, 2020 for its project at 48 Carey Street in London, and
the USD325 million (INR23 billion) unsecured bond due March 13,
2020. Fitch expects cash collected at 48 Carey Street over the next
few months to be sufficient to meet its GBP290 million loan. MDL
has shared details of a financing package from an existing offshore
lender to repay the USD325 million bond, and Fitch expects this
facility to be finalised in the next two to three months although
execution risks remain. Fitch expects FY20 onshore debt maturities
to be mostly manageable as some domestic banks appear willing to
lend to reputable property developers with good quality projects
such as MDL.

MDL owes 58% of its INR50 billion in FY21 onshore debt maturities
to NBFIs and housing-finance companies for which Fitch believes the
company will have to seek alternative funding particularly if the
ongoing liquidity crisis among NBFIs persists. Fitch forecasts a
cash flow deficit of INR37 billion in FY21, conservatively assuming
that the company will be able to obtain bank financing to fund at
least 50% of its construction costs. MDL says it is negotiating
with an existing onshore lender for a term facility secured against
completed inventory in onshore projects, which will help the
company to meet a substantial part of the INR37 billion cash flow
deficit. The company is also in negotiations to sell two of its
commercial properties valued at INR17 billion in aggregate, which
can help cover the balance. MDL also has a GBP517 million (INR47
billion) construction loan at its project at 1 Grosvenor Square in
London due March 2021.

MANGALAGIRI TEXTILE: CRISIL Keeps 'D' Ratings in Not Cooperating
----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Mangalagiri Textile
Mills Private Limited (MTMPL) continues to be 'CRISIL D/CRISIL D
Issuer not cooperating'.


                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Cash Credit           7        CRISIL D (ISSUER NOT
                                  COOPERATING)

   Long Term Loan       14        CRISIL D (ISSUER NOT
                                  COOPERATING)

CRISIL has been consistently following up with MTMPL for obtaining
information through letters and emails dated January 23, 2019 and
July 11, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

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

Detailed Rationale

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

Based on the last available information, the ratings on bank
facilities of MTMPL continues to be 'CRISIL D Issuer not
cooperating'.

MTMPL was incorporated in 2006, promoted by Dr G Nagasaina Rao and
his family. Based in Mangalagiri, Andhra Pradesh, the company
primarily produces cotton yarn.

N.S.K. BUILDERS: CRISIL Maintains 'D' Ratings in Not Cooperating
----------------------------------------------------------------
CRISIL said the ratings on bank facilities of N.S.K. Builders
Private Limited (NBPL) continues to be 'CRISIL D/CRISIL D Issuer
not cooperating'.

                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Bank Guarantee        27       CRISIL D (ISSUER NOT
                                  COOPERATING)

   Cash Credit           15       CRISIL D (ISSUER NOT
                                  COOPERATING)

   Open Cash Credit       8       CRISIL D (ISSUER NOT
                                  COOPERATING)

CRISIL has been consistently following up with NBPL for obtaining
information through letters and emails dated February 26, 2019 and
July 30, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

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

Detailed Rationale

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

Based on the last available information, the ratings on bank
facilities of NBPL continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

Formed in 1996 as a partnership entity, and later incorporated as a
private limited company in 2010, NBPL, promoted by Mr NSK Kalairaja
and Mr NSK Karunairaja, undertakes large infrastructure projects
such as roads and building construction.

NEEV INFRASTRUCTURE: CRISIL Keeps 'D' Ratings in Not Cooperating
----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Neev Infrastructure
Private Limited (NIPL) continues to be 'CRISIL D/CRISIL D Issuer
not cooperating'.

                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Bank Guarantee        80       CRISIL D (ISSUER NOT
                                  COOPERATING)

   Cash Credit           45       CRISIL D (ISSUER NOT
                                  COOPERATING)

   Letter Of Guarantee   10       CRISIL D (ISSUER NOT
                                  COOPERATING)

CRISIL has been consistently following up with NIPL for obtaining
information through letters and emails dated January 23, 2019 and
July 11, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

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

Detailed Rationale

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

Based on the last available information, the ratings on bank
facilities of NIPL continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

Founded in 1978 as a partnership firm named Chandu Constructions by
Mr Chandulal V Jain, Jitendra C Jain, Monali J Jain, Savita C
Jainthe firm was reconstituted as a private limited company and
named Chandu Constructions Pvt Ltd in 2001. It got its present name
in 2003. The company undertakes civil infrastructure projects,
including construction of roads and installation of sewage and
water supply lines.

NV AUTOSPARES: CRISIL Maintains 'D' Ratings in Not Cooperating
--------------------------------------------------------------
CRISIL said the ratings on bank facilities of NV Autospares Private
Limited (NV) continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Cash Credit          1.5       CRISIL D (ISSUER NOT
                                  COOPERATING)

   Funded Interest      1.55      CRISIL D (ISSUER NOT
   Term Loan                      COOPERATING)

   Long Term Loan       4.2       CRISIL D (ISSUER NOT
                                  COOPERATING)

   Proposed Long Term    .52      CRISIL D (ISSUER NOT
   Bank Loan Facility             COOPERATING)

   Working Capital      4.23      CRISIL D (ISSUER NOT
   Term Loan                      COOPERATING)

CRISIL has been consistently following up with NV for obtaining
information through letters and emails dated January 23, 2019 and
July 11, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

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

Detailed Rationale

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

Based on the last available information, the ratings on bank
facilities of NV continues to be 'CRISIL D Issuer not
cooperating'.

NV, incorporated in 2005, is promoted by Mr Ahire. The company
manufactures seat frames and press parts. Its manufacturing
facility is at Nashik in Maharashtra.

OOSH: Fashion Entrepreneur Shuts Shops; 40 Workers to Lose Jobs
---------------------------------------------------------------
Stuff.co.nz reports that an entrepeneur who brought Kiwi-made
fashion and retail optimism to the New Zealand heartland for more
than a decade has called it quits.

Suzie Johnson, owner of Oosh, announced the business was folding,
via an emotional Facebook video on August 18, due to family health
problems and the difficulty of trying to compete with cheaper,
imported garments.

Oosh closed its Napier Factory on August 16, and its remaining
shops in Shannon, Napier and Cambridge would shut by the end of
August.

Stuff relates that Ms. Johnson, supported by her husband and five
children, said the family and Oosh's 40 staff were gutted by the
demise of the business she started with NZ$5 and a dream in Shannon
12 years ago.

"We'll take time to grieve the closure of this business, which has
been like my baby. Then we'll decide what to do next."

According to Stuff, Ms. Johnson said she was proud of the "beast"
Oosh had grown into and that she had kept the fashion brand
entirely Kiwi made. All the clothes it sold were made and designed
in-house at the Napier factory.

At Oosh's height, Ms. Johnson had nearly a dozen stores across the
central North Island, mostly in small towns because she wanted to
encourage people to visit the provinces, Stuff says.

Stuff relates that the brand was previously downsized in 2017, when
her Woodville shops, Oosh La La, For Frocks Sake and the Oosh
gallery were closed following the Manawatū Gorge slips. A gallery
in Shannon was also shut down.

On August 18, Ms. Johnson said family health problems and financial
pressures meant she couldn't continue with Oosh.

Her husband, Kiwi Johnson, had a heart condition and Ms. Johnson
herself had never fully recovered from a horse riding accident, she
said.

"[And] we just can't compete with imports any more with our price
points and margins. It's just getting really tough to do New
Zealand made," the report quotes Ms. Johnson as saying.

Oosh will hold a closing down sale to move the last of its clothing
over the rest of August, Stuff discloses.

Ms. Johnson was selling all its fittings and equipment, as well as
the factory and Oosh's stores in Shannon, Taihape and Woodville,
the report adds.

PARAS FOODS: CRISIL Keeps D on INR9cr Loans in Non-Cooperating
--------------------------------------------------------------
CRISIL said the ratings on bank facilities of Paras Foods (PF)
continues to be 'CRISIL D/CRISIL D Issuer not cooperating'.

                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Cash Credit           5        CRISIL D (ISSUER NOT
                                  COOPERATING)

   Term Loan             4        CRISIL D (ISSUER NOT
                                  COOPERATING)

CRISIL has been consistently following up with PF for obtaining
information through letters and emails dated January 23, 2019 and
July 11, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

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

Detailed Rationale

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

Based on the last available information, the rating on bank
facilities of PF continues to be 'CRISIL D Issuer not
cooperating'.

Established in 2003 as a partnership between Mr Ujwal Pagariya, Mr
Ulhas Pagaria, and Mr Umesh Pagaria, PF, based in Nagpur
(Maharashtra) is a wholesale trader of agricultural products.

PC GLOBAL: CRISIL Keeps D on INR9cr Loans in Not Cooperating
------------------------------------------------------------
CRISIL said the ratings on bank facilities of P C Global
Merchandising Private Limited (PCG; part of the Plaza group)
continues to be 'CRISIL D/CRISIL D Issuer not cooperating'.

                        Amount
   Facilities         (INR Crore)    Ratings
   ----------         -----------    -------
   Packing Credit         6.42       CRISIL D (ISSUER NOT
                                     COOPERATING)

   Proposed Long Term
   Bank Loan Facility     2.58       CRISIL D (ISSUER NOT
                                     COOPERATING)

CRISIL has been consistently following up with PCG for obtaining
information through letters and emails dated January 23, 2019 and
July 11, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

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

Detailed Rationale

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

Based on the last available information, the ratings on bank
facilities of PCG continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

For arriving at the ratings, CRISIL has combined the business and
financial risk profiles of PCG and Plaza Computers (PC). This is
because the two entities, together referred to as the Plaza group,
are in the same business, and have a common management team and
marketing network.

PC, set up in 1994-95 as a proprietorship firm by Mr. Sudeep Goel,
manufactures and exports women's readymade garments and its
facility is at Devli in New Delhi. Mr. Goel set up PCG in 2003. Its
manufacturing facility is in Noida, Uttar Pradesh.

PLAZA COMPUTERS: CRISIL Keeps D on INR7cr Debt in Not Cooperating
-----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Plaza Computers (PC)
continues to be 'CRISIL D/CRISIL D Issuer not cooperating'.

                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Packing Credit        7        CRISIL D (ISSUER NOT
                                  COOPERATING)

CRISIL has been consistently following up with PC for obtaining
information through letters and emails dated January 23, 2019 and
July 11, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

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

Detailed Rationale

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

Based on the last available information, the rating on bank
facility of PC continues to be 'CRISIL D Issuer not cooperating'.

PC, set up in 1994-95 as a proprietorship firm by Mr. Sudeep Goel,
manufactures and exports women's readymade garments and its
facility is at Devli in New Delhi. Mr. Goel set up PCG in 2003. Its
manufacturing facility is in Noida, Uttar Pradesh.

PLAZMA TECHNOLOGIES: CARE Lowers Rating on INR2.63cr Loan to D
--------------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Plazma Technologies Private Limited (PTPL), as:

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long term Bank      2.63        CARE D; Stable ISSUER NOT
   Facilities                      COOPERATING Revised from
                                   CARE B+; Stable Issuer not
                                   cooperating; Based on best
                                   available information

   Long term Bank      5.80        CARE D; Stable ISSUER NOT
   Facilities                      COOPERATING Revised from
                                   CARE A4; Stable Issuer not
                                   cooperating; Based on best
                                   available information

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated March 12, 2018, placed the
rating of PTPL under the 'issuer non-cooperating' category as PTPL
had failed to provide information for monitoring of the rating as
agreed to in its Rating Agreement. PTPL continues to be
non-cooperative despite repeated requests for submission of
information through email letter dated July 16, 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.

The revision in the rating takes into account the continuous delays
by the company in debt repayment obligation. The ability
of the company to repay its debt obligation in timely manner
remains the key rating sensitivity.

Detailed description of the key rating drivers

Delay in servicing of debt obligations: There have been continuous
overdrawals in the cash credit facility for more than 30 days and
the account has been classified as SMA.

Incorporated in 1990, PTPL, formerly known as Plazma Cutting
Equipment Private Limited is a Pune-based company, promoted by Mr
Hughen Thomas and Mrs Arudhati Thomas. The company is engaged in
the manufacturing of plazma cutting tools and equipment.


RAGHAV COTSPIN: CRISIL Lowers Ratings on INR30cr Loans to 'D'
-------------------------------------------------------------
CRISIL has downgraded its ratings on the bank facilities of Raghav
Cotspin Private Limited (RCPL) to 'CRISIL D Issuer Not Cooperating'
from 'CRISIL B/Stable Issuer Not Cooperating'.  The downgrade
reflects delay by RCPL in servicing term debt repayment
obligations.

                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Cash Credit           8        CRISIL D (ISSUER NOT
                                  COOPERATING; Downgraded from
                                  'CRISIL B/Stable ISSUER NOT
                                  COOPERATING')

   Term Loan            22        CRISIL D (ISSUER NOT
                                  COOPERATING; Downgraded from
                                  'CRISIL B/Stable ISSUER NOT
                                  COOPERATING')

CRISIL has been consistently following up with RCPL for obtaining
information through letters and emails dated February 28, 2018 and
August 31, 2018 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

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

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL has
not received any information on either the financial performance or
strategic intent of RCPL. This restricts CRISIL's ability to take a
forward-looking view on the credit quality of the entity. CRISIL
has downgraded its ratings on the bank facilities of RCPL to
'CRISIL D Issuer Not Cooperating' from 'CRISIL B/Stable Issuer Not
Cooperating'.

The downgrade reflects delay by RCPL in servicing term debt
repayment obligations.

Incorporated in 2013, RCPL is promoted by the Gondal
(Gujarat)-based Gajera family. The company is setting up a unit to
spin cotton yarn of 30s count, which was expected to commence
operations in April 2016.

RAJASTHAN FASTENERS: CRISIL Keeps 'D' Ratings in Not Cooperating
----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Rajasthan Fasteners
Private Limited (RFPL) continues to be 'CRISIL D/CRISIL D Issuer
not cooperating'.

                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Bank Guarantee       .25       CRISIL D (ISSUER NOT
                                  COOPERATING)

   Cash Credit         2.00       CRISIL D (ISSUER NOT
                                  COOPERATING)
   Foreign Bill
   Purchase            3.00       CRISIL D (ISSUER NOT
                                  COOPERATING)

   Foreign Letter
   of Credit            .30       CRISIL D (ISSUER NOT
                                  COOPERATING)

   Packing Credit      8.00       CRISIL D (ISSUER NOT
                                  COOPERATING)

CRISIL has been consistently following up with RFPL for obtaining
information through letters and emails dated January 23, 2019 and
July 11, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

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

Detailed Rationale

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

Based on the last available information, the ratings on bank
facilities of RFPL continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

RFPL, incorporated on 1998 and based in Jaipur, manufactures
slotted dowell spring pins, disc springs, spiral coiled springs,
and other products used in motor vehicles and their engines. The
company's directors are Mr Neelmani Jain, Mr Prasann Mal Lodha, and
Mr Binod Kumar Jain.

ROJER MATHEW: CRISIL Keeps D on INR19cr Loans in Not Cooperating
----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Rojer Mathew and
Company (RMC) continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Bank Guarantee        7        CRISIL D (ISSUER NOT
                                  COOPERATING)

   Cash Credit          12        CRISIL D (ISSUER NOT
                                  COOPERATING)

CRISIL has been consistently following up with RMC for obtaining
information through letters and emails dated January 23, 2019 and
July 11, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

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

Detailed Rationale

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

Based on the last available information, the ratings on bank
facilities of RMC continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

Set up as a partnership firm in Kochi (Kerala), RMC executes civil
contracts for Kerala Public Works Department. Operations of the
firm are managed by key partner, Mr. Rojer Mathew.

ROMEGA FOAM: CRISIL Maintains 'D' Ratings in Not Cooperating
------------------------------------------------------------
CRISIL said the ratings on bank facilities of Romega Foam Private
Limited (RFPL) continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Cash Credit          6.5       CRISIL D (ISSUER NOT
                                  COOPERATING)

   Letter of Credit     2.5       CRISIL D (ISSUER NOT
                                  COOPERATING)

   Long Term Loan       1.0       CRISIL D (ISSUER NOT
                                  COOPERATING)

CRISIL has been consistently following up with RFPL for obtaining
information through letters and emails dated January 23, 2019 and
July 11, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

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

Detailed Rationale

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

Based on the last available information, the ratings on bank
facilities of RFPL continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

RFPL, incorporated in 1994 by Mr. Ninan Verghese and Ms. Sheeba
Ninan, manufactures polyurethane foam, convoluted sheets,
polyurethane foam rolls, bonded foam, contour sheets, antistatic
foam etc. in its manufacturing facilities in Puducherry (Tamil
Nadu). All the products manufactured are customised for customers.

RUDRANEE INFRASTRUCTURE: CRISIL Keeps D Ratings in Not Cooperating
------------------------------------------------------------------
CRISIL said the ratings on bank facilities of Rudranee
Infrastructure Limited (Rudranee) continues to be 'CRISIL D/CRISIL
D Issuer not cooperating'.

                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Bank Guarantee       40        CRISIL D (ISSUER NOT
                                  COOPERATING)

   Cash Credit         109        CRISIL D (ISSUER NOT
                                  COOPERATING)

   Proposed Cash
   Credit Limit         35        CRISIL D (ISSUER NOT
                                  COOPERATING)

   Proposed Letter      66        CRISIL D (ISSUER NOT
   of Credit & Bank               COOPERATING)
   Guarantee            
                                  
CRISIL has been consistently following up with Rudranee for
obtaining information through letters and emails dated
January 23, 2019 and July 11, 2019 among others, apart from
telephonic communication. However, the issuer has remained non
cooperative.

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

Detailed Rationale

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

Based on the last available information, the ratings on bank
facilities of Rudranee continues to be 'CRISIL D/CRISIL D Issuer
not cooperating'.

Rudranee was originally set up in 1993 as a partnership firm, which
was reconstituted as a public limited company in 2007. On June 30,
2011, Supreme Infrastructure India Ltd bought 51 per cent of
Rudranee's equity shares for Rs.180 million, thereby making
Rudranee its subsidiary. The companyexecutes projects in the roads,
irrigation, civil construction, and water management segments.

SARAL HOME: Ind-Ra Affirms 'BB+' Rating on INR43.45MM Loan
----------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed Saral Home Finance
Limited's (SHFL) bank loans as follows:

-- INR43.45 mil. (reduced from INR207.55 mil.) Bank loans
     affirmed with IND BB+/Stable rating.

KEY RATING DRIVERS

The affirmation reflects a decline in SHFL's loan book to INR169.3
million in FY19 (FY18: INR187.7 million, FY17: INR253.3 million)
with nil loan disbursements since FY17. As the competition in the
segment intensified with a spurt in new-age housing finance
companies, SHFL's management decided to run down the book to
achieve the desired operating metrics. Ind-Ra believes the
non-operation of all its six branches since FY17 would have
resulted in a significant loss of franchise. The management was
also unable to garner capital for growth over the years, thereby
further constraining the loan book.

The ratings remain constrained by SHFL's limited funding sources.
It has funding lines from two banks and as per the management, it
has not sought to increase its lines with its existing and new
lenders since FY15. Additionally, due to run down of its loan book,
it has been unable to tap into National Housing Bank's (NHB; 'IND
AAA/Stable/'IND A1+') refinancing lines since FY16.

The rating is, however, supported by SHFL's low liquidity
challenges in the face of largely equity funded balance sheet (debt
to equity ratio was low at 0.8x in FY19 against 1.2x in FY18), and
plans to expand its balance sheet while maintaining modest leverage
and funding lines, while operating in the small ticket (INR1
million and lower) affordable housing segment.

The asset-liability management (ALM) statement at FYE19 did not
have any mismatch in the short-term maturity buckets (up to one
year).

SHFL has been able to manage its asset quality, as the gross
non-performing asset (NPA) ratio stood at 3.24% as at mid-August
2019 (FY18: 3.36%; FY17: 2.71%) due to the shrinkage of loan book
(lower denominator). There were no fresh slippages over FY17-FY19.
The NPAs reduced, in absolute terms, to INR5.5 million in
mid-August 2019 (FY19: INR6.1 million, FY18: INR6.3 million, FY17:
INR6.8 million), mainly due to recoveries.

SHFL's portfolio remains concentrated in Delhi with 42%
contribution to the overall portfolio. The ratings are also
constrained by SHFL's modest systems and processes that need to
evolve as and when the company is able to grow its operations.

RATING SENSITIVITIES

Positive: The ability to significantly expand the loan book with
modest leverage while improving profitability, enlarge and expand
funding lines and maintain a healthy liquidity profile could lead
to positive rating action.

Negative: The inability to expand loan book beyond INR200 million
by FYE20, non-expansion borrowing limits or deterioration in the
asset quality with gross NPA crossing the current levels (3.24%)
can trigger a negative rating action.

COMPANY PROFILE

SHFL (formerly Vishwakriya Housing Finance Ltd.) is a housing
finance company registered and regulated by the NHB, a wholly-owned
subsidiary of the Reserve Bank of India.

SCAN ENERGY: CRISIL Keeps D Loan Ratings in Not Cooperating
-----------------------------------------------------------
CRISIL said the ratings on bank facilities of with Scan Energy and
Power Limited (SEPL) continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Cash Credit           59       CRISIL D (ISSUER NOT
                                  COOPERATING)

   Letter of Credit       7       CRISIL D (ISSUER NOT
                                  COOPERATING)

   Long Term Loan        80.83    CRISIL D (ISSUER NOT
                                  COOPERATING)

CRISIL has been consistently following up with SEPL for obtaining
information through letters and emails dated January 23, 2019 and
July 11, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

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

Detailed Rationale

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

Based on the last available information, the ratings on bank
facilities of SEPL continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

SEPL, part of the Scan group promoted by Mr G S Agarwal and his
family, was incorporated in 2007. The company has set up a steel
billet and thermo-mechanically treated bar manufacturing unit with
capacities of 450 tonne per day (tpd) and 500 tpd, respectively in
the Mahboobnagar district of Telangana, around 60 kilometre from
Hyderabad.

SEIRIS FLEX: Insolvency Resolution Process Case Summary
-------------------------------------------------------
Debtor: Seiris Flex India Private Limited
        8-2-120/77/5, 1st Floor
        Road No. 2, Banjara Hills
        Hyderabad TG 500034 IN

Insolvency Commencement Date: June 4, 2019

Court: National Company Law Tribunal, Hyderabad Bench

Estimated date of closure of
insolvency resolution process: December 1, 2019

Insolvency professional: Mr. Kedar Ramratan Laddha

Interim Resolution
Professional:            Mr. Kedar Ramratan Laddha
                         501 Shajanand Shopping Centres
                         Shahibaug, Ahmadabad
                         Gujarat 380004
                         Tel.: 9737533000
                         E-mail: ip@kpsjca.com
                                 kladdha@kpsjca.com

                            - and -

                         B-1002 – Mondeal Square
                         Nr. Prahladnagar Garden
                         SG Highway, Ahmedabad 380015
                         E-mail: ip@kpsjca.com

Last date for
submission of claims:    June 18, 2019

SHANKER COTGIN: CRISIL Keeps D on INR8cr Loans in Not Cooperating
-----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Shanker Cotgin
Industries (SCI) continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Cash Credit           6        CRISIL D (ISSUER NOT
                                  COOPERATING)

   Proposed Cash         2        CRISIL D (ISSUER NOT
   Credit Limit                   COOPERATING)

CRISIL has been consistently following up with SCI for obtaining
information through letters and emails dated January 23, 2019 and
July 11, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

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

Detailed Rationale

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

Based on the last available information, the ratings on bank
facilities of SCI continues to be 'CRISIL D Issuer not
cooperating'.

SCI is a partnership firm set up in 2005. It gins and presses
cotton, and extracts cotton oil at its unit in Sirsa (Haryana). The
firm is owned and managed by Mr Ramesh Kumar and family.

SHREE BISHNU: CRISIL Keeps D on INR8.35cr Loan in Not Cooperating
-----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Shree Bishnu Feed
Industries (SBFI) continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Cash Credit           8.35     CRISIL D (ISSUER NOT
                                  COOPERATING)

CRISIL has been consistently following up with SBFI for obtaining
information through letters and emails dated January 23, 2019 and
July 11, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

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

Detailed Rationale

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

Based on the last available information, the ratings on bank
facilities of SBFI continues to be 'CRISIL D Issuer not
cooperating'.

SBFI was established in 1995 as a proprietorship concern by Mr
Bharatji Prasad. The firm produces poultry feed, cattle feed, and
hatched chicks. It also trades in maize grain and soya bean
de-oiled cakes. Its manufacturing facility is in Howrah, West
Bengal.

SHREE DWARKADHISH: CRISIL Keeps D on INR10cr Debt in NonCooperating
-------------------------------------------------------------------
CRISIL said the ratings on bank facilities of Shree Dwarkadhish
Udyog Private Limited (SDUPL) continues to be 'CRISIL D/CRISIL D
Issuer not cooperating'.

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

CRISIL has been consistently following up with SDUPL for obtaining
information through letters and emails dated January 23, 2019 and
July 11, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

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

Detailed Rationale

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

Based on the last available information, the ratings on bank
facilities of SDUPL continues to be 'CRISIL D Issuer not
cooperating'.

SDUPL is based in Ranchi (Jharkand) and was incorporated in 2012.
The company trades in steel, cement, and other construction
materials such as electrical items and sanitary ware. It started
operations in July 2012. The company is promoted by Mr Amit Sarawgi
and Mr Gyan Prakash Sarawgi, who have experience of more than 15
years in trading of steel and cement products.

SIPANI ONLINE: Insolvency Resolution Process Case Summary
---------------------------------------------------------
Debtor: Sipani Online Private Limited
        PO Box 7611, 7th Mile
        Near Arkere Gate
        L&T South City Road
        Bannerghatta Road
        Bangalore Karnataka 560076
        India

Insolvency Commencement Date: July 18, 2019

Court: National Company Law Tribunal, Bengaluru Bench

Estimated date of closure of
insolvency resolution process: February 3, 2020
                               (180 days from commencement)

Insolvency professional: Konduru Prasanth Raju

Interim Resolution
Professional:            Konduru Prasanth Raju
                         B-804, Shriram Suhaana Apartments
                         Harohalli, Nagenahalli Gate
                         Yelahanka, Bangalore
                         Karnata 560064
                         E-mail: ipraju@gmail.com

                            - and -

                         No. 2, 2nd Floor, 14th Cross
                         Dasara Halli Main Road
                         Bhuvaneswari Nagar, Kempapura
                         Hebbal, Bangalore 560024
                         E-mail: sipaniclaims@gmail.com

                         Landmark:
                         Near More Mega Store
                         Above Ganga Bakers

Last date for
submission of claims:    August 21, 2019

SOVEREIGN DEVELOPERS: Insolvency Resolution Process Case Summary
----------------------------------------------------------------
Debtor: Sovereign Developers and Infrastructure Limited
        No. 16, 2nd Floor Jaladarshini Layout
        New BEL Road, Bangalore 560054
        Karnataka, India

Insolvency Commencement Date: July 16, 2019

Court: National Company Law Tribunal, Bengaluru Bench

Estimated date of closure of
insolvency resolution process: January 12, 2020
                               (180 days from commencement)

Insolvency professional: Guru Prasad Makam

Interim Resolution
Professional:            Guru Prasad Makam
                         Guru and Jana, Chartered Accountants
                         No. 41, Patalamma Temple Street
                         Near South End Circle
                         Basavanagudi, Bangalore 560004
                         Karnataka, India
                         E-mail: irp@gurujana.com

Last date for
submission of claims:    July 30, 2019

SRI LAKSHMI: Insolvency Resolution Process Case Summary
-------------------------------------------------------
Debtor: Sri Lakshmi Kantha Spinners Limited
        Aeon Heights, Ground Floor
        H.No. 15-31-VII, M-30
        KPHB Colony, Hyderabad
        Rangareddi, TG 500085

Insolvency Commencement Date: August 1, 2019

Court: National Company Law Tribunal, Hyderabad Bench

Estimated date of closure of
insolvency resolution process: January 28, 2020

Insolvency professional: Chinnam Poorna Chandra Rao

Interim Resolution
Professional:            Chinnam Poorna Chandra Rao
                         Flat no. 101, TVS Mahathi Apts.
                         Opp to Sampoorna Super Market
                         Behind SR Digi School
                         Lanco Hills Road, Manikonda
                         Hyderabad 500089
                         E-mail: chinnam.poorna@gmail.com
                                 cirp.slks@gmail.com

Last date for
submission of claims:    August 22, 2019

SRI SUNFLOWER: CRISIL Keeps D on INR12cr Loan in Not Cooperating
----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Sri Sunflower
Educational Society (SSES) continues to be 'CRISIL D/CRISIL D
Issuer not cooperating'.


                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Long Term Loan       12        CRISIL D (ISSUER NOT
                                  COOPERATING)

CRISIL has been consistently following up with SSES for obtaining
information through letters and emails dated January 23, 2019 and
July 11, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

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

Detailed Rationale

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

Based on the last available information, the ratings on bank
facilities of SSES continues to be 'CRISIL D Issuer not
cooperating'.

SSES was set up in 2003 by Mr. M D V S R Punnam Raju and his family
members. It operates an engineering college in Krishna (Andhra
Pradesh).

STAR AQUA: CRISIL Keeps D Ratings on Non-Cooperating
----------------------------------------------------
CRISIL said the ratings on bank facilities of Star Aqua
International Private Limited (SAIPL) continues to be 'CRISIL
D/CRISIL D Issuer not cooperating'.

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

   Long Term Loan         8.27    CRISIL D (ISSUER NOT
                                  COOPERATING)

CRISIL has been consistently following up with SAIPL for obtaining
information through letters and emails dated
January 23, 2019 and July 11, 2019 among others, apart from
telephonic communication. However, the issuer has remained non
cooperative.

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

Detailed Rationale

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

Based on the last available information, the ratings on bank
facilities of SAIPL continues to be 'CRISIL D Issuer not
cooperating'.

Set up in 2006 by Mr.Shaik Abdul Aziz, involved in end-to-end
activities for shrimp exports from Nellore (Andhra Pradesh).

SUBHKARAN AND SONS: CRISIL Keeps 'D' Rating in Not Cooperating
--------------------------------------------------------------
CRISIL said the ratings on bank facilities of Subhkaran and Sons
(SAS) continues to be 'CRISIL D/CRISIL D Issuer not cooperating'.

                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Letter of Credit       50      CRISIL D (ISSUER NOT
                                  COOPERATING)

CRISIL has been consistently following up with SAS for obtaining
information through letters and emails dated January 23, 2019 and
July 11, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

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

Detailed Rationale

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

Based on the last available information, the ratings on bank
facilities of SAS continues to be 'CRISIL D Issuer not
cooperating'.

Incorporated in 1981 by Mr Vinod Jatia and Mr Prateek Jatia, SAS
trades in iron and steel products such as hot- and cold-rolled
coils, sheets, and plates, sponge iron lumps, and fines.

SUPER INFRATECH: CRISIL Maintains 'D' Ratings in Not Cooperating
----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Super Infratech
Private Limited (SIPL) continues to be 'CRISIL D/CRISIL D Issuer
not cooperating'.

                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Bank Guarantee       8.74      CRISIL D (ISSUER NOT
                                  COOPERATING)

   Bill Discounting     4.9       CRISIL D (ISSUER NOT
                                  COOPERATING)

   Cash Credit          1.9      CRISIL D (ISSUER NOT
                                 COOPERATING)

   Term Loan             .46     CRISIL D (ISSUER NOT
                                 COOPERATING)

CRISIL has been consistently following up with SIPL for obtaining
information through letters and emails dated January 23, 2019 and
July 11, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

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

Detailed Rationale

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

Based on the last available information, the ratings on bank
facilities of SIPL continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

Incorporated in 2001, SIPL is promoted by Mr Sujit Bardole and his
wife. It is engaged in civil construction for state and central
governments. The company develops and maintains roads.

SUPER SPINTEX: Ind-Ra Assigns BB LT Issuer Rating, Outlook Stable
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has assigned Super Spintex
Private Limited (SSPL) a Long-Term Issuer Rating of 'IND BB'. The
Outlook is Stable.

The instrument-wise rating actions are:

-- INR870.0 mil. Term loan due on September 2024 assigned with
     IND BB/Stable rating;

-- INR220.0 mil. Fund-based limit assigned with IND BB/Stable/
     IND A4+ rating; and

-- INR50.0 mil. Non-fund-based limit assigned with IND A4+
     rating.

KEY RATING DRIVERS

The ratings reflect SSPL's limited track record of operations, and
modest EBITDA margins as well as credit metrics on volatile raw
material prices and the fragmented and competitive nature of the
industry it operates in. In FY19, the company's first full year of
operations, EBITDA margins came in at 11.1% (FY18: 8.1%)
benefitting from the increased realization on an increase in cotton
yarn prices. Return on capital employed turned positive at 4% in
FY19. The company's gross interest coverage (operating EBITDA/gross
interest expense) was 3.3x in FY19 (FY18: 4.4x) and net leverage
(adjusted net debt/operating EBITDA) was 5.4x (21.5x). The
improvement in the net leverage was supported by a rise in
operating EBITDA to INR241.0 million from INR65.2 million.

Liquidity is tight as reflected in the company's long net working
capital cycle of 61 days in FY19 (FY18: 84 days). The working
capital utilization was high at 95% over the 12 months ended in
July 2019. However, the cash flow from operations turned positive
at INR100 million in FY19 due to an improvement in operating EBITDA
to INR241.0 million (FY18: INR65.2 million). The fund flow from the
operation was INR218.0 million in FY19 (FY18: INR60.0 million). The
company has principal repayment obligations of INR211.25 million
for FY20 and FY21 each. The company has also availed INR225.0
million as unsecured, non-interest bearing loans from the
promoters.

The ratings are supported by a substantial improvement in revenue
to INR2,162.0 million in FY19 (FY18: INR810 million), led by an
increase in the number of orders. SSPL has a running order book of
INR209 million to be executed by end-August 2019. The company
recorded revenue of INR504.0 million in 1QFY20. The ratings also
benefit from SSPL's promoters having an extensive experience of
around three decades in the manufacturing sector.

RATING SENSITIVITIES

Positive: An improvement in the revenue and EBITDA margins, leading
to an improvement in the overall credit metrics, with the net
leverage (excluding unsecured loans) improving below 3.5x, on a
sustained basis, will lead to positive rating action.

Negative: Any decline in the revenue and EBITDA margins, leading to
deterioration in the credit metrics, with the net leverage
(excluding unsecured loans) staying above 4.5x, on a sustained
basis, will lead to negative rating action.

COMPANY PROFILE

Jamnagar-based SSPL was incorporated in January 2016 by Suresh G.
Kachadia and Atul G. Kachadia. SSPL has set up a greenfield project
for a spinning unit to manufacture cotton yarn of various counts.
The project was completed in August 2017 and commenced its
commercial operations from September 2017. Its manufacturing
facilities are located at Jamnagar with 51,072 spindles having an
installed capacity to manufacture 11,577 metric ton per annum.

SUPERWAYS ENTERPRISES: CRISIL Keeps 'D' Rating in Not Cooperating
-----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Superways Enterprises
Private Limited (SEPL) continues to be 'CRISIL D/CRISIL D Issuer
not cooperating'.

                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Letter of Credit      100      CRISIL D (ISSUER NOT
                                  COOPERATING)

CRISIL has been consistently following up with SEPL for obtaining
information through letters and emails dated January 23, 2019 and
July 11, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

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

Detailed Rationale

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

Based on the last available information, the ratings on bank
facilities of SEPL continues to be 'CRISIL D Issuer not
cooperating'.

Incorporated in 1989 by Mr Vinod Jatia and his family, SEPL trades
in iron and steel products such as hot- and cold-rolled coils,
sheets, and plates, sponge iron lumps, and fines.

V. M. STAR: CRISIL Keeps D on INR15cr Loan in Non-Cooperating
-------------------------------------------------------------
CRISIL said the ratings on bank facilities of V. M. Star (VM)
continues to be 'CRISIL D/CRISIL D Issuer not cooperating'.

                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Bill Purchase-        15       CRISIL D (ISSUER NOT
   Discounting                    COOPERATING)
   Facility               
                                  
CRISIL has been consistently following up with VM for obtaining
information through letters and emails dated January 23, 2019 and
July 11, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

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

Detailed Rationale

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

Based on the last available information, the ratings on bank
facilities of VM continues to be 'CRISIL D Issuer not
cooperating'.

Set up as a partnership firm in 1993 in Mumbai by Mr. Mahesh Adani
and Mr. Vasant Doshi, VM trades in diamonds.

V.R.N. ENTERPRISES: CRISIL Keeps D Loan Rating in Not Cooperating
-----------------------------------------------------------------
CRISIL said the ratings on bank facilities of V.R.N. Enterprises
Private Limited (VRN) continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

                     Amount
   Facilities      (INR Crore)    Ratings
   ----------      -----------    -------
   Cash Credit           20       CRISIL D (ISSUER NOT
                                  COOPERATING)

CRISIL has been consistently following up with VRN for obtaining
information through letters and emails dated January 23, 2019 and
July 11, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

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

Detailed Rationale

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

Based on the last available information, the ratings on bank
facilities of VRN continues to be 'CRISIL D Issuer not
cooperating'.

Set up in 2010, in Bengaluru Mr. Hemanth Kumar and Mr. Lalith
Kumar, - V.R.N trades in silk yarn and fabric.

VINDHYABASINI RICE: CRISIL Keeps 'D' Ratings in Not Cooperating
---------------------------------------------------------------
CRISIL said the ratings on bank facilities of Vindhyabasini Rice
Mills Cluster Private Limited (VRMCPL) continues to be 'CRISIL
D/CRISIL D Issuer not cooperating'.

                       Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Cash Credit             6        CRISIL D (ISSUER NOT
                                    COOPERATING)

   Proposed Long Term      6        CRISIL D (ISSUER NOT
   Bank Loan Facility               COOPERATING)

   Term Loan               4        CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with VRMCPL for obtaining
information through letters and emails dated
January 23, 2019 and July 11, 2019 among others, apart from
telephonic communication. However, the issuer has remained non
cooperative.

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

Detailed Rationale

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

Based on the last available information, the ratings on bank
facilities of VRMCPL continues to be 'CRISIL D Issuer not
cooperating'.

Incorporated in January 2010 and promoted by Mr. Sunil Singh,
VRMCPL mills and processes parboiled rice and also started
operating a flour milling unit from May 2015 onwards.

VIZEBH AGRI: CARE Keeps D on INR11.87cr Loans in Non-Cooperating
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Vizebh Agri
Sciences Private Limited (VASPL) continues to remain in the 'Issuer
Not Cooperating' category.

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long term Bank       11.87      CARE D; ISSUER NOT COOPERATING;
   Facilities                      Based on best available
                                   Information

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated November 20, 2018, placed
the rating(s) of VASPL under the 'issuer non-cooperating' category
as VASPL had failed to provide information for monitoring of the
rating for the rating exercise as agreed to in its Rating
Agreement. VASPL continues to be non-cooperative despite repeated
requests for submission of information through phone calls and
letter/email-s dated July 15, 2019, July 16, 2019 and July 17,
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 rating(s).

Detailed description of the key rating drivers

At the time of last rating on November 20, 2018, the following were
the rating strengths and weaknesses:

Key Rating Weaknesses

Delays in debt servicing: The rating assigned to the bank
facilities of VASPL takes into account the fact that VASPL has been
delaying in servicing its debt obligation.

Liquidity Analysis
The liquidity position remained weak owing to cash flow mismatch
from operations. Cash and bank balance remained low at INR0.45
crore as on March 31, 2017 while net cash flow from operating
activities remained negative at INR3.64 crore during FY17.

Vadodara-based (Gujarat), VASPL was incorporated during July, 2010
by two promoters namely Mr.Amrish Patel and Mr.Jinesh Patel. The
company is in the business of manufacturing of dairy products such
as milk, curd, cow ghee, butter, flavoured milk, lassi etc. and
operates with an installed capacity of 100,000 litres per day for
milk processing. The company sells its products under the brand
name "Vizee" in Gujarat, Punjab, Haryana, Jammu & Kashmir, Himachal
Pradesh etc. Milk is the primary raw material for the company which
they procure from their own milk chilling centres.



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

MAINZEAL PROPERTY: Richard Yan to Resist Bankruptcy
---------------------------------------------------
Victoria Young at BusinessDesk reports that former Mainzeal
director Richard Yan said he'll fight pressure from liquidators at
BDO after they moved to make him bankrupt.

On Aug. 12, BDO liquidators Andrew Bethell and Brian Mayo-Smith
said they had been forced to apply for bankruptcy to get Mr. Yan to
pay some $18 million awarded to them by the High Court at Auckland,
the report says.

According to BusinessDesk, Mr. Yan is appealing the NZ$36 million
awarded against him and three other former Mainzeal directors by
Justice Francis Cooke in February this year. The insurers for Jenny
Shipley, Clive Tilby and Peter Gomm, who were also held liable,
have already provided security for their half of the $36 million.

On Aug. 8, associate judge Hannah Sargisson gave permission for BDO
to serve a bankruptcy notice outside New Zealand, relates
BusinessDesk.

BusinessDesk says the associate judge set a deadline of 25 days to
comply with the demand or file an application to set aside the
notice. Her minute said Mr. Yan's lawyers have already indicated
they will do the latter.

The High Court at Auckland said it was appropriate to chase
Mr. Yan outside New Zealand because the debt owed to the
liquidators had a "real and substantial connection with New
Zealand," BusinessDesk relays.

In her minute, the judge noted that Mr. Yan's lawyers were
protesting jurisdiction on his behalf.

In a statement through his lawyers, Mr. Yan said in any event he
has offered undertakings to address concerns that he might not be
able to pay - but did not elaborate on what those undertakings
were, according to BusinessDesk.

"Mr. Yan intends to resist the use of bankruptcy procedures to
place pressure on him while his appeal is pending," the statement
from Tim Mullins, a partner at LeeSalmonLong, said, BusinessDesk
relays.

"As everyone is aware, the judgment is subject to appeal. Mr Yan
has pursued his appeal diligently. Mr Yan does not accept the
plaintiffs will suffer any prejudice from awaiting the outcome of
the appeal."

Mr. Mullins said that he could not provide further comment at this
stage, BusinessDesk adds.

Property records indicate that in Auckland, Mr. Yan part-owns
Remuera property with a ratings value of more than $10 million and
an Epsom home valued at $4 million, BusinessDesk discloses. He is
also the sole shareholder of a company which owns Campbell Park, a
32-hectare estate near Oamaru.

The next stage, which includes a cross-appeal by the liquidators,
is expected to be heard in the Court of Appeal early next year.

The director defendants deny liability, while the liquidators say
the amount to pay in damages should be higher.

                      About Mainzeal Property

Mainzeal Property and Construction Ltd is a New Zealand-based
property and construction company.  The company forms part of the
Mainzeal Group, which is owned by Richina Inc, a privately held New
Zealand-based company with a strong China focus.

On Feb. 6, 2013, Colin McCloy and David Bridgman, partners from
PricewaterhouseCoopers, were appointed receivers to Mainzeal
Property and Construction Limited and associated entities as a
result of a request made by its director to BNZ.

Mainzeal's director, Richard Yan advised that following a series of
events that had adversely affected the Company's financial position
coupled with a general decline in major commercial construction
activity, and in the absence of further shareholder support, the
Company could no longer continue trading.

On Feb. 28, 2013, BDO's Andrew Bethell and Brian Mayo-Smith were
appointed liquidators to those three companies in receivership and
nine others in the group that were not in receivership.

The companies now under the control of the liquidators are Mainzeal
Group, Mainzeal Property and Construction, Mainzeal Living, 200
Vic, Building Futures Group Holding, Building Futures Group,
Mainzeal Residential, Mainzeal Construction, Mainzeal, Mainzeal
Construction SI, MPC NZ and RGRE.

Mainzeal is estimated to owe NZ$11.3 million to the BNZ, NZ$70
million to unsecured creditors and NZ$5.2 million to employees, NZN
disclosed. Subcontractors are among the unsecured creditors, said
NZN.



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

VIBRANT GROUP: Issues Disclaimer of Opinion on FY2019 Financials
----------------------------------------------------------------
Rachel Mui at The Business Times reports that the independent
auditor for Vibrant Group has issued a disclaimer of opinion on the
firm's financial statements for FY2019.

According to the report, KPMG explained that it has not been able
to obtain sufficient and appropriate audit evidence to provide a
basis for an opinion on these financial statements.

Among other things, KPMG noted that it identified irregularities
and discrepancies in relation to certain invoices and receipts
during its audit of Blackgold Group for the financial year ended
April 30, 2018, BT relates.

Blackgold is a Chinese coal miner owned by mainboard-listed
Vibrant, the report notes.

According to a bourse filing by KPMG on August 15, "the accounting
records of Blackgold were destroyed in a fire incident" in August
last year, BT relays.

In addition, in a report by the company's investigating auditors,
KPMG noted that there were "multiple potential material
misstatements" in the financial position of Blackgold as at its
acquisition on July 13, 2017, and in Blackgold's financial results
for the period up to April 30, 2018, says BT.

Accordingly, KPMG said it was not able to complete its audit
procedures, as it was unable to obtain sufficient and appropriate
audit evidence over the account balances of Blackgold, as well as
the transactions of Blackgold from the date of its acquisition till
April 30, 2019, relays BT.

Moreover, Vibrant's management has not consolidated the balances
and transactions relating to Blackgold in the group's consolidated
financial statements for FY2018 and FY2019, KPMG said. As a result,
the auditor said it is unable to determine the extent of
adjustments necessary with regard to the group's consolidated
financial statements for the years ended April 30, 2018 and April
30, 2019.

In a separate regulatory filing on August 15, Vibrant highlighted
"certain reclassifications and material differences" between the
group's audited and unaudited financial statements for FY2019, BT
reports.

According to BT, figures from the group's audited financial
statements showed that net profit attributable to owners of the
company for the financial year ended April 30 came in at SGD7.7
million, up from SGD5.6 million previously recorded in its
unaudited financial statements, representing a difference of about
SGD2.1 million, or 37 per cent.

While revenue remained the same, share of profit from its
associates, net of tax surged to SGD11.1 million in its audited
financial statements, from just SGD270,000 in its unaudited
financial statements, BT says. Vibrant credited the variance to
fair value gain on an investment property held by its associate
Ececil. Nonetheless, this profit was partially offset by the share
of loss from China Southwest Energy Corporation, as a result of the
impairment loss on receivables, Vibrant, as cited by BT, said.

Income tax expense stood higher at SGD8.3 million in its audited
financial statements, versus SGD6 million recorded in its unaudited
statements. BT says the company attributed the SGD2.3 million
increase in expenses to "deferred tax liabilities from the
temporary differences recognised by its subsidiaries".

Furthermore, there were also differences between its audited and
unaudited financial statements due to the reclassification from
"other income" and "other operating expenses" to "impairment loss
on trade and other receivables", Vibrant noted, BT relays.

BT previously reported that Blackgold appeared to have falsified
accounts and grossly inflated sales figures since the day it was
acquired, causing Vibrant to report false financials in a possible
breach of Singapore listing rules.

Blackgold's management may also have recorded fictitious mining
fees from subcontractors prior to the acquisition by Vibrant in
July 2017, suggesting that the false accounts date back to the time
when it was still listed on the Australian Securities Exchange, BT
relates.

These findings were released in a special audit report by EY
Advisory on Jan. 24, BT says. EY commenced a probe into Blackgold's
records in August last year, after auditors from KPMG discovered
irregularities in the receipts and sales invoices arising from the
coal mining and coal trading businesses carried on by some
Blackgold units.

Subsequently in June, Vibrant said it was in discussion with
relevant parties to evaluate the disposal of Blackgold, BT adds.

Singapore-based Vibrant Group Limited provides logistics, real
estate, and financial services worldwide. It operates through three
segments: Freight and Logistics Business, Financial Services, and
Real Estate Business.



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

[*] BOND PRICING: For the Week Aug. 12, 2019 to Aug. 16, 2019
-------------------------------------------------------------
Issuer                    Coupon     Maturity   Currency  Price
------                    ------     --------   --------  -----

  AUSTRALIA
  ---------

CLIME CAPITAL LTD/FUND      6.25     11/30/21    AUD      1.00
KEYBRIDGE CAPITAL LTD       7.00     07/31/20    AUD      0.94
MIDWEST VANADIUM PTY LT    13.25     02/15/18    USD      0.15
MIDWEST VANADIUM PTY LT    13.25     02/15/18    USD      0.15


  CHINA
  -----

AKESU XINCHENG ASSET IN     6.40     04/20/22    CNY     60.00
AKESU XINCHENG ASSET IN     6.40     04/20/22    CNY     60.52
ALAER XINXIN STATE-OWNE     6.80     06/16/22    CNY     50.60
ALAER XINXIN STATE-OWNE     6.80     06/16/22    CNY     56.78
ANHUI CHIZHOU CITY TIAN     7.40     10/23/20    CNY     38.00
ANHUI CHIZHOU CITY TIAN     7.40     10/23/20    CNY     40.44
ANHUI FOREIGN ECONOMIC      5.80     07/13/21    CNY     70.01
ANHUI PROVINCE TONGLING     7.30     05/13/21    CNY     41.33
ANHUI PROVINCE TONGLING     7.30     05/13/21    CNY     47.18
ANJI COUNTY STATE-OWNED     8.30     04/24/21    CNY     41.48
ANJI COUNTY STATE-OWNED     8.30     04/24/21    CNY     44.57
ANKANG DEVELOPMENT & IN     6.35     03/06/20    CNY     20.29
ANQING URBAN CONSTRUCTI     6.01     04/27/22    CNY     60.00
ANQING URBAN CONSTRUCTI     6.01     04/27/22    CNY     61.47
ANSHUN STATE-RUN ASSETS     6.98     01/10/20    CNY     20.01
ANSHUN STATE-RUN ASSETS     6.98     01/10/20    CNY     20.03
BAODING NATIONAL HI-TEC     7.33     12/24/19    CNY     20.14
BAOJI HI-TECH INDUSTRIA     8.25     04/21/21    CNY     40.00
BAOJI HI-TECH INDUSTRIA     8.25     04/21/21    CNY     41.18
BAOTOU CITY SCIENCE EDU     6.48     03/25/22    CNY     61.40
BAOTOU STATE OWNED ASSE     7.03     09/17/19    CNY     20.05
BAYAN ZHUOER HETAO WATE     8.54     03/31/22    CNY     47.52
BAZHONG STATE-OWNED ASS     8.50     04/25/21    CNY     41.67
BEIJING BIOMEDICINE IND     6.35     07/23/20    CNY     40.23
BEIJING BIOMEDICINE IND     6.35     07/23/20    CNY     40.50
BEIJING CAPITAL DEVELOP     7.19     01/15/21    CNY     40.00
BEIJING CAPITAL DEVELOP     6.50     02/27/21    CNY     41.02
BEIJING CAPITAL DEVELOP     7.19     01/15/21    CNY     41.13
BEIJING CAPITAL DEVELOP     6.50     02/27/21    CNY     41.80
BEIJING CHANGXIN CONSTR     6.74     04/22/21    CNY     41.30
BEIJING CHANGXIN CONSTR     6.74     04/22/21    CNY     41.30
BEIJING CHAOYANG STATE-     5.25     03/27/20    CNY     20.10
BEIJING CHAOYANG STATE-     5.25     03/27/20    CNY     20.43
BEIJING CONSTRUCTION EN     5.95     07/05/19    CNY     20.00
BEIJING FUTURE SCIENCE      6.28     09/22/19    CNY     25.12
BEIJING FUTURE SCIENCE      6.28     09/22/19    CNY     25.25
BEIJING GUCAI GROUP CO      6.60     09/06/20    CNY     40.64
BEIJING GUCAI GROUP CO      6.60     09/06/20    CNY     43.68
BEIJING HAIDIAN STATE-O     5.50     08/07/20    CNY     39.80
BEIJING HAIDIAN STATE-O     5.50     08/07/20    CNY     40.45
BEIJING JINGMEI GROUP C     6.14     09/09/20    CNY     40.50
BEIJING JINGMEI GROUP C     6.14     09/09/20    CNY     40.70
BEIJING JINLIYUAN STATE     7.00     10/28/20    CNY     40.87
BEIJING JINLIYUAN STATE     7.00     10/28/20    CNY     40.98
BEIJING SHIJINGSHAN STA     6.08     08/18/21    CNY     61.31
BEIJING SHIJINGSHAN STA     6.08     08/18/21    CNY     63.87
BEIJING XINCHENG INFRAS     7.50     04/21/21    CNY     41.10
BEIJING XINCHENG INFRAS     7.50     04/21/21    CNY     41.56
BEIJING XINGZHAN INVEST     6.48     08/31/19    CNY     20.00
BEIJING XINGZHAN INVEST     6.48     08/31/19    CNY     20.07
BEIJING XINGZHAN INVEST     6.66     04/24/21    CNY     41.10
BEIJING XINGZHAN INVEST     6.66     04/24/21    CNY     41.43
BEIPIAO CITY CONSTRUCTI     6.70     03/25/23    CNY     75.07
BENGHU HI NEW TECH INVE     8.70     04/17/21    CNY     40.00
BENGHU HI NEW TECH INVE     8.70     04/17/21    CNY     41.57
BENXI URBAN CONSTRUCTIO     6.24     01/22/22    CNY     60.00
BENXI URBAN CONSTRUCTIO     6.24     01/22/22    CNY     60.10
BIJIE CONSTRUCTION INVE     6.50     01/28/22    CNY     61.66
BIJIE CONSTRUCTION INVE     6.50     01/28/22    CNY     65.65
BIJIE KAIYUAN CONSTRUCT     7.78     02/25/21    CNY     41.21
BIJIE KAIYUAN CONSTRUCT     7.78     02/25/21    CNY     50.00
BINZHOU HI-TECH DEVELOP     8.60     01/10/21    CNY     41.19
BINZHOU HI-TECH DEVELOP     8.60     01/10/21    CNY     43.40
BINZHOU ZHONGHAI VENTUR     6.65     04/13/22    CNY     60.00
BINZHOU ZHONGHAI VENTUR     6.65     04/13/22    CNY     60.95
BORALA MONGOL AUTONOMOU     7.18     08/09/20    CNY     40.00
BORALA MONGOL AUTONOMOU     7.18     08/09/20    CNY     40.43
C&D REAL ESTATE CORP LT     6.15     04/03/20    CNY     20.37
CANGZHOU CONSTRUCTION &     6.72     01/23/20    CNY     20.20
CEFC SHANGHAI INTERNATI     4.08     09/09/21    CNY     60.00
CEFC SHANGHAI INTERNATI     4.98     12/10/20    CNY     61.29
CHANGCHUN MODERN AGRICU     7.00     07/25/21    CNY     60.75
CHANGDE ECONOMIC DEVELO     7.19     09/12/19    CNY     20.09
CHANGDE ECONOMIC DEVELO     7.19     09/12/19    CNY     20.23
CHANGDE ECONOMIC DEVELO     7.00     03/24/21    CNY     41.11
CHANGDE ECONOMIC DEVELO     7.00     03/24/21    CNY     43.30
CHANGDE URBAN CONSTRUCT     6.50     02/25/20    CNY     20.31
CHANGDE URBAN CONSTRUCT     5.63     09/01/20    CNY     40.36
CHANGRUN INVESTMENT & G     6.88     09/16/20    CNY     40.43
CHANGRUN INVESTMENT & G     6.88     09/16/20    CNY     46.00
CHANGSHA COUNTY TONGTU      6.00     06/19/22    CNY     61.62
CHANGSHA COUNTY TONGTU      6.00     06/19/22    CNY     68.20
CHANGSHA COUNTY XINGCHE     7.90     03/25/22    CNY     58.52
CHANGSHA COUNTY XINGCHE     7.90     03/25/22    CNY     61.00
CHANGSHA ECONOMIC & TEC     8.45     04/13/22    CNY     46.87
CHANGSHA METRO GROUP CO     6.20     04/23/23    CNY     62.51
CHANGSHA METRO GROUP CO     6.20     04/23/23    CNY     64.02
CHANGSHA PILOT INVESTME     6.70     12/10/19    CNY     20.27
CHANGSHA YUHUA URBAN CO     7.17     04/18/21    CNY     41.45
CHANGSHA YUHUA URBAN CO     7.17     04/18/21    CNY     44.00
CHANGSHU BINJIANG URBAN     6.39     09/11/21    CNY     60.00
CHANGSHU BINJIANG URBAN     6.39     09/11/21    CNY     61.19
CHANGSHU DEVELOPMENT IN     5.80     04/19/20    CNY     20.10
CHANGSHU DEVELOPMENT IN     5.80     04/19/20    CNY     20.19
CHANGSHU DONGNAN ASSET      6.53     03/26/22    CNY     62.22
CHANGSHU DONGNAN ASSET      6.53     03/26/22    CNY     67.32
CHANGSHU TRANSPORTATION     7.00     04/29/21    CNY     41.62
CHANGSHU TRANSPORTATION     7.00     04/29/21    CNY     47.00
CHANGXING COUNTY TRANSP     6.75     06/16/21    CNY     40.86
CHANGXING COUNTY TRANSP     6.75     06/16/21    CNY     40.96
CHANGXING COUNTY TRANSP     7.88     04/30/21    CNY     41.54
CHANGXING COUNTY TRANSP     7.88     04/30/21    CNY     50.30
CHANGXING URBAN CONSTRU     6.80     11/30/19    CNY     20.00
CHANGXING URBAN CONSTRU     6.80     11/30/19    CNY     20.11
CHANGXING URBAN CONSTRU     6.00     12/03/21    CNY     59.00
CHANGXING URBAN CONSTRU     6.00     12/03/21    CNY     60.14
CHANGZHI CITY CONSTRUCT     6.46     02/26/20    CNY     20.21
CHANGZHOU BINHU CONSTRU     8.04     12/12/20    CNY     40.00
CHANGZHOU BINHU CONSTRU     8.04     12/12/20    CNY     41.52
CHANGZHOU HI-TECH GROUP     6.18     03/21/20    CNY     20.00
CHANGZHOU HI-TECH GROUP     6.18     03/21/20    CNY     20.23
CHANGZHOU JINTAN DISTRI     6.38     04/26/20    CNY     20.00
CHANGZHOU JINTAN DISTRI     6.38     04/26/20    CNY     20.38
CHANGZHOU PUBLIC HOUSIN     6.64     07/02/21    CNY     60.68
CHANGZHOU PUBLIC HOUSIN     6.64     07/02/21    CNY     61.20
CHANGZHOU TIANNING CONS     6.48     02/12/22    CNY     60.00
CHANGZHOU TIANNING CONS     6.48     02/12/22    CNY     60.69
CHAOHU URBAN TOWN CONST     6.50     04/30/22    CNY     62.28
CHENGDU CITY DEVELOPMEN     6.18     01/14/20    CNY     20.22
CHENGDU ECONOMIC & TECH     6.90     05/30/21    CNY     41.29
CHENGDU ECONOMIC & TECH     6.90     05/30/21    CNY     46.00
CHENGDU ECONOMIC&TECHNO     6.55     07/17/19    CNY     20.01
CHENGDU ECONOMIC&TECHNO     6.55     07/17/19    CNY     20.20
CHENGDU HI-TECH INVESTM     6.28     11/20/19    CNY     20.11
CHENGDU HI-TECH INVESTM     6.28     11/20/19    CNY     20.35
CHENGDU LONGBO INVESTME     8.10     04/24/21    CNY     40.84
CHENGDU PIDU DISTRICT S     7.25     10/15/20    CNY     38.50
CHENGDU PIDU DISTRICT S     7.25     10/15/20    CNY     40.67
CHENGDU PIDU DISTRICT S     6.95     04/01/22    CNY     60.95
CHENGDU PIDU DISTRICT S     6.95     04/01/22    CNY     68.83
CHENGDU SHUZHOU CITY CO     6.58     05/26/22    CNY     59.30
CHENGDU SHUZHOU CITY CO     6.58     05/26/22    CNY     60.29
CHENGDU XINGCHENG INVES     6.17     01/28/20    CNY     20.21
CHENGDU XINGCHENGJIAN I     6.00     03/20/22    CNY     60.00
CHENGDU XINGCHENGJIAN I     6.00     03/20/22    CNY     61.54
CHENGDU XINGJIN URBAN C     7.30     11/27/19    CNY     20.19
CHENGDU XINGJIN URBAN C     7.30     11/27/19    CNY     25.40
CHENGDU XINKAIYUAN URBA     7.43     08/12/21    CNY     61.22
CHENGDU XINKAIYUAN URBA     7.43     08/12/21    CNY     62.30
CHENGFA INVESTMENT GROU     6.87     04/30/21    CNY     40.00
CHENGFA INVESTMENT GROU     6.87     04/30/21    CNY     41.44
CHENZHOU BAIFU INVESTME     6.54     08/28/21    CNY     60.25
CHENZHOU BAIFU INVESTME     6.54     08/28/21    CNY     60.82
CHENZHOU HIGH-TECH KLC      6.45     01/23/22    CNY     60.61
CHENZHOU HIGH-TECH KLC      6.45     01/23/22    CNY     68.60
CHENZHOU XINTIAN INVEST     6.30     07/17/20    CNY     40.00
CHENZHOU XINTIAN INVEST     6.30     07/17/20    CNY     40.11
CHENZHOU XINTIAN INVEST     6.15     04/24/22    CNY     59.38
CHENZHOU XINTIAN INVEST     6.15     04/24/22    CNY     65.30
CHENZHOU XINTIAN INVEST     5.38     03/08/26    CNY     66.30
CHINA MEDIA GROUP           6.00     04/04/21    CNY     94.00
CHINA MINSHENG INVESTME     7.00     12/26/20    CNY     36.65
CHINA SECURITY CO LTD       4.45     11/11/19    CNY     31.00
CHINA WANDA GROUP CO LT     6.50     01/24/22    CNY     70.00
CHINA YIXING ENVIRONMEN     7.10     10/18/20    CNY     39.99
CHINA YIXING ENVIRONMEN     7.10     10/18/20    CNY     40.59
CHONGQIN XINLIANG INVES     4.76     08/26/23    CNY     74.27
CHONGQIN XINLIANG INVES     4.76     08/26/23    CNY     74.65
CHONGQING BANAN ECONOMI     7.00     08/20/21    CNY     61.00
CHONGQING BANAN ECONOMI     6.17     03/13/22    CNY     61.35
CHONGQING BANAN ECONOMI     7.00     08/20/21    CNY     61.49
CHONGQING BANAN ECONOMI     6.17     03/13/22    CNY     64.00
CHONGQING BEICHENG CONS     7.30     10/16/20    CNY     40.88
CHONGQING BEICHENG CONS     7.30     10/16/20    CNY     41.00
CHONGQING BEIFEI INDUST     7.13     12/25/19    CNY     20.18
CHONGQING CHANGSHOU DEV     7.45     09/25/19    CNY     20.10
CHONGQING CHANGSHOU DEV     7.45     09/25/19    CNY     23.10
CHONGQING CHANGSHOU ECO     7.20     07/15/21    CNY     60.00
CHONGQING CHANGSHOU ECO     7.20     07/15/21    CNY     60.94
CHONGQING CHANGSHOU ECO     7.10     06/19/21    CNY     40.00
CHONGQING CHANGSHOU ECO     7.10     06/19/21    CNY     41.38
CHONGQING CITY CONSTRUC     5.12     05/21/20    CNY     20.17
CHONGQING CITY CONSTRUC     5.12     05/21/20    CNY     22.56
CHONGQING DASUN ASSET D     6.98     09/10/20    CNY     40.76
CHONGQING DAZU DISTRICT     6.75     04/26/20    CNY     20.20
CHONGQING DAZU DISTRICT     6.75     04/26/20    CNY     20.22
CHONGQING DAZU INDUSTRI     6.30     04/28/22    CNY     60.00
CHONGQING DAZU INDUSTRI     6.30     04/28/22    CNY     60.14
CHONGQING FULING DISTRI     7.89     03/20/21    CNY     41.36
CHONGQING FULING DISTRI     7.89     03/20/21    CNY     47.33
CHONGQING FULING STATE-     6.39     01/21/20    CNY     20.17
CHONGQING FULING STATE-     6.39     01/21/20    CNY     21.20
CHONGQING FULING TRAFFI     6.68     02/03/22    CNY     60.00
CHONGQING FULING TRAFFI     6.68     02/03/22    CNY     60.95
CHONGQING GAOXIN ZONE D     7.80     04/25/21    CNY     41.86
CHONGQING GAOXIN ZONE D     7.80     04/25/21    CNY     50.80
CHONGQING GARDENING IND     8.45     06/03/21    CNY     40.00
CHONGQING GARDENING IND     8.45     06/03/21    CNY     41.25
CHONGQING HAOJIANG CONS     8.05     03/06/21    CNY     40.00
CHONGQING HAOJIANG CONS     7.99     11/22/20    CNY     40.00
CHONGQING HAOJIANG CONS     7.99     11/22/20    CNY     40.73
CHONGQING HAOJIANG CONS     8.05     03/06/21    CNY     41.00
CHONGQING HECHUAN INDUS     6.19     06/17/20    CNY     20.26
CHONGQING HECHUAN INDUS     6.19     06/17/20    CNY     20.32
CHONGQING HECHUAN URBAN     7.30     07/07/21    CNY     61.45
CHONGQING HONGRONG CAPI     7.20     10/16/19    CNY     20.12
CHONGQING HONGRONG CAPI     7.20     10/16/19    CNY     20.15
CHONGQING HONGYE INDUST     6.30     06/03/20    CNY     20.27
CHONGQING HONGYE INDUST     6.30     06/03/20    CNY     25.00
CHONGQING INTERNATIONAL     7.08     10/18/20    CNY     40.68
CHONGQING INTERNATIONAL     7.08     10/18/20    CNY     40.70
CHONGQING JIANGBEIZUI C     6.50     07/21/21    CNY     60.90
CHONGQING JIANGBEIZUI C     6.50     07/21/21    CNY     61.15
CHONGQING JIANGJIN HUAX     7.46     09/21/19    CNY     20.00
CHONGQING JIANGJIN HUAX     7.46     09/21/19    CNY     20.08
CHONGQING JIULONG HI-TE     6.60     08/19/21    CNY     59.00
CHONGQING JIULONG HI-TE     6.60     08/19/21    CNY     60.68
CHONGQING LAND PROPERTI     6.30     08/22/20    CNY     40.63
CHONGQING LAND PROPERTI     6.30     08/22/20    CNY     40.85
CHONGQING LIANGJIANG NE     6.70     04/25/21    CNY     41.46
CHONGQING LIANGJIANG NE     5.88     09/16/21    CNY     61.42
CHONGQING LIANGJIANG NE     5.88     09/16/21    CNY     61.49
CHONGQING LIANGJIANG NE     3.60     04/19/21    CNY     69.50
CHONGQING LIANGJIANG NE     3.60     04/19/21    CNY     69.56
CHONGQING LIANGJIANG NE     3.17     01/13/21    CNY     69.57
CHONGQING LIANGJIANG NE     3.17     01/13/21    CNY     69.75
CHONGQING MAIRUI CITY I     6.82     08/17/19    CNY     20.05
CHONGQING NANCHUAN DIST     7.35     09/06/19    CNY     20.00
CHONGQING NANCHUAN DIST     7.35     09/06/19    CNY     20.06
CHONGQING NANFA URBAN C     6.43     04/27/20    CNY     20.27
CHONGQING NANFA URBAN C     6.43     04/27/20    CNY     20.36
CHONGQING QIANJIANG CIT     8.00     03/21/21    CNY     40.99
CHONGQING QIANJIANG CIT     8.00     03/21/21    CNY     41.70
CHONGQING QIJIANG EAST      6.75     01/29/20    CNY     20.10
CHONGQING QIJIANG EAST      6.75     01/29/20    CNY     20.23
CHONGQING SHUANGFU CONS     7.49     10/23/20    CNY     40.00
CHONGQING SHUANGFU CONS     7.49     10/23/20    CNY     40.61
CHONGQING SHUANGQIAO EC     6.75     04/26/20    CNY     20.25
CHONGQING SHUANGQIAO EC     5.99     11/19/21    CNY     60.24
CHONGQING SHUANGQIAO EC     5.99     11/19/21    CNY     66.25
CHONGQING TAX FREE PORT     7.50     04/24/21    CNY     41.66
CHONGQING TAX FREE PORT     7.50     04/24/21    CNY     41.80
CHONGQING TEA GARDEN IN     7.70     05/20/21    CNY     40.92
CHONGQING TONGLIANG JIN     6.59     04/08/22    CNY     60.00
CHONGQING TONGLIANG JIN     6.59     04/08/22    CNY     61.18
CHONGQING WANSHENG ECO      6.39     04/17/20    CNY     20.18
CHONGQING WANSHENG ECO      6.39     04/17/20    CNY     20.20
CHONGQING WANSHENG ECO      8.19     04/08/21    CNY     41.12
CHONGQING WANSHENG ECO      8.19     04/08/21    CNY     43.90
CHONGQING WANSHENG ECO      6.95     08/25/21    CNY     60.70
CHONGQING WANSHENG ECO      6.95     08/25/21    CNY     65.00
CHONGQING XIYONG MICRO-     6.76     07/25/19    CNY     20.03
CHONGQING XIYONG MICRO-     6.58     07/25/21    CNY     61.53
CHONGQING XIYONG MICRO-     6.58     07/25/21    CNY     62.33
CHONGQING YONGCHUAN HUI     7.33     10/16/19    CNY     20.20
CHONGQING YONGCHUAN HUI     7.33     10/16/19    CNY     20.32
CHONGQING YONGCHUAN HUI     7.28     05/30/21    CNY     41.55
CHONGQING YONGCHUAN HUI     7.28     05/30/21    CNY     41.60
CHONGQING YUELAI INVEST     6.09     04/29/22    CNY     60.00
CHONGQING YUELAI INVEST     6.09     04/29/22    CNY     61.74
CHONGQING YUFU HOLDING      6.50     09/04/19    CNY     20.00
CHONGQING YUFU HOLDING      6.50     09/04/19    CNY     20.10
CHONGQING YUNAN ASSET M     7.05     06/17/21    CNY     41.18
CHONGQING YUNAN ASSET M     7.05     06/17/21    CNY     42.47
CHONGQING YUXING CONSTR     7.30     12/10/19    CNY     19.52
CHONGQING YUXING CONSTR     7.30     12/10/19    CNY     20.17
CHONGQING YUZHONG STATE     7.25     02/26/21    CNY     41.00
CHONGQING YUZHONG STATE     7.25     02/26/21    CNY     41.31
CHUN'AN XINANJIANG DEVE     6.10     03/11/22    CNY     61.28
CHUN'AN XINANJIANG DEVE     6.10     03/11/22    CNY     64.55
CHUXIONG AUTONOMOUS DEV     6.60     03/29/20    CNY     19.46
CHUXIONG AUTONOMOUS DEV     6.60     03/29/20    CNY     19.80
CHUZHOU CITY CONSTRUCTI     6.81     11/23/19    CNY     20.22
CHUZHOU CITY CONSTRUCTI     6.81     11/23/19    CNY     20.25
CHUZHOU CITY CONSTRUCTI     6.40     08/22/21    CNY     61.52
CHUZHOU TONGCHUANG CONS     7.05     01/09/20    CNY     20.00
CHUZHOU TONGCHUANG CONS     7.05     01/09/20    CNY     20.18
CITIC GUOAN GROUP CORP      4.23     12/15/20    CNY     21.74
CITIC GUOAN GROUP CORP      4.49     03/08/21    CNY     47.25
CITIC GUOAN GROUP CORP      4.90     11/06/19    CNY     47.25
CITIC GUOAN GROUP CORP      5.80     12/15/19    CNY     47.25
CIXI CITY CONSTRUCTION      6.18     08/18/21    CNY     61.28
CIXI CITY CONSTRUCTION      6.18     08/18/21    CNY     68.80
CIXI STATE OWNED ASSET      6.60     09/20/19    CNY     20.13
CIXI STATE OWNED ASSET      6.60     09/20/19    CNY     20.20
DALI ECONOMIC DEVELOPME     7.90     03/04/21    CNY     40.00
DALI ECONOMIC DEVELOPME     8.30     12/11/20    CNY     40.88
DALI ECONOMIC DEVELOPME     7.90     03/04/21    CNY     40.91
DALIAN DETA HOLDING CO      6.50     11/15/19    CNY     20.10
DALIAN PUWAN ENGINEERIN     7.09     02/20/21    CNY     39.76
DALIAN RONGDA INVESTMEN     5.69     12/05/21    CNY     60.87
DALIAN RONGDA INVESTMEN     5.69     12/05/21    CNY     60.88
DALIAN RONGQIANG INVEST     7.92     04/14/21    CNY     41.14
DALIAN RONGQIANG INVEST     7.92     04/14/21    CNY     41.15
DALIAN RONGQIANG INVEST     8.60     01/20/21    CNY     41.19
DALIAN RONGQIANG INVEST     8.60     01/20/21    CNY     41.20
DANDONG PORT GROUP CO L     5.50     01/27/21    CNY     59.00
DANGYANG XINYUAN INVEST     7.99     05/23/21    CNY     40.00
DANGYANG XINYUAN INVEST     7.99     05/23/21    CNY     41.32
DANYANG HI-TECH INDUSTR     6.40     04/24/22    CNY     58.71
DANYANG HI-TECH INDUSTR     6.40     04/24/22    CNY     60.00
DANYANG INVESTMENT GROU     6.81     10/23/19    CNY     25.13
DANYANG INVESTMENT GROU     6.81     10/23/19    CNY     25.53
DANYANG INVESTMENT GROU     6.90     10/23/20    CNY     40.00
DANYANG INVESTMENT GROU     6.90     10/23/20    CNY     40.64
DAQING GAOXIN STATE-OWN     6.88     12/05/19    CNY     20.11
DAQING GAOXIN STATE-OWN     6.88     12/05/19    CNY     20.12
DAWA COUNTY CITY CONSTR     6.29     06/12/22    CNY     57.99
DAWA COUNTY CITY CONSTR     6.29     06/12/22    CNY     62.50
DAYE ZHENHENG CITY DEVE     7.30     03/03/21    CNY     40.83
DAYE ZHENHENG CITY DEVE     7.95     11/27/20    CNY     41.00
DAYE ZHENHENG CITY DEVE     7.95     11/27/20    CNY     41.40
DAYE ZHENHENG CITY DEVE     7.30     03/03/21    CNY     43.53
DAZHOU DEVELOPMENT HOLD     6.55     01/14/22    CNY     60.00
DAZHOU DEVELOPMENT HOLD     6.55     01/14/22    CNY     61.67
DAZHOU INVESTMENT CO LT     6.99     12/25/19    CNY     20.16
DAZHOU INVESTMENT CO LT     6.99     12/25/19    CNY     20.34
DEHONGZHOU HONGKANG INV     6.68     01/23/22    CNY     60.18
DEHONGZHOU HONGKANG INV     6.68     01/23/22    CNY     61.03
DEYANG ECONOMIC DEVELOP     7.90     04/28/21    CNY     40.77
DEYANG ECONOMIC DEVELOP     7.90     04/28/21    CNY     48.26
DONGTAI UBAN CONSTRUCTI     7.10     12/26/19    CNY     20.17
DONGTAI UBAN CONSTRUCTI     7.10     12/26/19    CNY     20.30
DONGTAI UBAN CONSTRUCTI     7.58     04/23/21    CNY     41.39
DONGTAI UBAN CONSTRUCTI     8.65     01/13/21    CNY     41.48
DONGYING CITY URBAN ASS     5.57     03/31/22    CNY     60.84
DONGYING CITY URBAN ASS     5.57     03/31/22    CNY     61.26
DR PENG TELECOM & MEDIA     6.00     06/16/22    CNY     60.00
DR PENG TELECOM & MEDIA     7.00     04/25/23    CNY     70.10
DUJIANGYAN XINGYAN INVE     6.10     03/12/22    CNY     60.00
DUJIANGYAN XINGYAN INVE     6.10     03/12/22    CNY     60.45
EASTAR HOLDINGS GROUP C     7.30     10/31/20    CNY     63.00
ELION CLEAN ENERGY CO L     6.42     07/19/20    CNY     63.86
ELION CLEAN ENERGY CO L     7.30     04/23/20    CNY     68.41
ENSHI URBAN CONSTRUCTIO     7.55     10/22/19    CNY     20.21
ENSHI URBAN CONSTRUCTIO     7.50     06/03/21    CNY     41.36
ENSHI URBAN CONSTRUCTIO     7.50     06/03/21    CNY     47.54
EZHOU CITY CONSTRUCTION     7.76     05/15/21    CNY     41.72
EZHOU CITY CONSTRUCTION     7.76     05/15/21    CNY     46.50
EZHOU CITY CONSTRUCTION     6.68     09/19/21    CNY     60.53
EZHOU CITY CONSTRUCTION     6.68     09/19/21    CNY     61.00
FANGCHENGGANG CITY GANG     8.09     04/16/21    CNY     41.32
FANGCHENGGANG CITY GANG     8.09     04/16/21    CNY     42.00
FENGCHENG CITY CONSTRUC     6.49     02/10/22    CNY     64.49
FENGXIAN URBAN INVESTME     6.48     03/20/22    CNY     60.00
FENGXIAN URBAN INVESTME     6.48     03/20/22    CNY     60.84
FUGU COUNTY STATE-OWNED     8.69     12/16/20    CNY     40.00
FUGU COUNTY STATE-OWNED     8.69     12/16/20    CNY     40.82
FUGUINIAO CO LTD            6.30     04/22/20    CNY     13.00
FUJIAN JINJIANG INDUSTR     7.08     06/27/21    CNY     60.30
FUJIAN JINJIANG INDUSTR     7.08     06/27/21    CNY     61.57
FUJIAN JINJIANG URBAN C     6.35     04/26/20    CNY     20.20
FUJIAN JINJIANG URBAN C     6.35     04/26/20    CNY     20.44
FUJIAN LONGYAN CITY CON     7.45     08/14/19    CNY     20.04
FUJIAN NANPING HIGHWAY      6.69     01/28/20    CNY     20.21
FUJIAN PROVINCE LIANJIA     6.29     04/30/22    CNY     60.00
FUJIAN PROVINCE LIANJIA     6.29     04/30/22    CNY     61.92
FUNING URBAN INVESTMENT     7.19     08/15/21    CNY     60.80
FUNING URBAN INVESTMENT     7.19     08/15/21    CNY     61.15
FUQING CITY STATE-OWNED     6.66     03/01/21    CNY     39.88
FUQING CITY STATE-OWNED     5.94     11/26/22    CNY     70.31
FUXIN INFRASTRUCTURE CO     6.18     03/18/22    CNY     59.82
FUXIN INFRASTRUCTURE CO     6.18     03/18/22    CNY     62.80
FUZHOU INVESTMENT DEVEL     6.78     01/16/20    CNY     20.19
FUZHOU INVESTMENT DEVEL     6.78     01/16/20    CNY     20.36
FUZHOU JIANGONG GROUP C     6.80     12/10/19    CNY     40.40
FUZHOU URBAN AND RURAL      5.48     01/26/22    CNY     60.00
FUZHOU URBAN AND RURAL      5.48     01/26/22    CNY     60.53
GANSU PROVINCIAL STATE-     5.40     03/06/20    CNY     40.20
GANSU PROVINCIAL STATE-     5.40     03/06/20    CNY     40.46
GANZHOU CITY DEVELOPMEN     5.50     06/16/22    CNY     60.00
GANZHOU CITY DEVELOPMEN     5.50     06/16/22    CNY     61.54
GANZHOU DEVELOPMENT ZON     8.15     12/31/19    CNY     25.37
GANZHOU DEVELOPMENT ZON     7.40     02/19/20    CNY     25.41
GANZHOU DEVELOPMENT ZON     7.40     02/19/20    CNY     32.60
GANZHOU DEVELOPMENT ZON     8.15     12/31/19    CNY     33.50
GANZHOU DEVELOPMENT ZON     7.43     02/19/21    CNY     39.00
GANZHOU DEVELOPMENT ZON     7.43     02/19/21    CNY     41.18
GAOMI STATE-OWNED ASSET     6.70     11/15/19    CNY     20.12
GAOMI STATE-OWNED ASSET     6.70     11/15/19    CNY     25.00
GOLMUD INVESTMENT HOLDI     8.70     12/30/20    CNY     40.66
GOOCOO INVESTMENT CO LT     7.20     02/01/21    CNY     50.00
GREENLAND HOLDING GROUP     6.24     05/23/20    CNY     25.19
GREENLAND HOLDING GROUP     6.24     05/23/20    CNY     25.25
GUANGAN DEVELOPMENT AND     6.39     03/24/22    CNY     60.95
GUANGAN DEVELOPMENT AND     6.39     03/24/22    CNY     64.00
GUANGAN ECONOMIC & TECH     7.10     09/22/21    CNY     60.80
GUANGAN ECONOMIC & TECH     7.10     09/22/21    CNY     60.90
GUANGXI BAISE DEVELOPME     6.50     07/04/19    CNY     19.99
GUANGXI BAISE DEVELOPME     6.50     07/04/19    CNY     20.00
GUANGXI BAISE DEVELOPME     7.27     06/20/21    CNY     40.79
GUANGXI LAIBIN INDUSTRI     5.97     11/26/21    CNY     60.00
GUANGXI LAIBIN INDUSTRI     5.97     11/26/21    CNY     60.70
GUANGXI QINZHOU LINHAI      7.68     02/20/21    CNY     41.29
GUANGXI QINZHOU LINHAI      7.68     02/20/21    CNY     44.77
GUANGXI URBAN CONSTRUCT     7.59     04/14/21    CNY     41.39
GUANGXI URBAN CONSTRUCT     7.59     04/14/21    CNY     43.00
GUANGYUAN INVESTMENT HO     7.30     04/22/21    CNY     41.35
GUANGYUAN YUANQU CONSTR     8.35     08/26/21    CNY     62.05
GUANGYUAN YUANQU CONSTR     8.35     08/26/21    CNY     67.00
GUANGZHOU METRO GROUP C     6.45     04/02/24    CNY     70.00
GUANGZHOU METRO GROUP C     6.05     06/03/24    CNY     73.50
GUANGZHOU METRO GROUP C     6.05     06/03/24    CNY     74.05
GUANGZHOU METRO GROUP C     6.45     04/02/24    CNY     74.72
GUILIN CITY INVESTMENT      6.90     06/13/21    CNY     40.00
GUILIN CITY INVESTMENT      6.90     06/13/21    CNY     60.56
GUILIN ECONOMIC CONSTRU     5.60     04/22/22    CNY     60.00
GUILIN ECONOMIC CONSTRU     5.60     04/22/22    CNY     61.63
GUIRENNIAO CO LTD           7.00     12/03/19    CNY     49.50
GUIYANG BAIYUN INDUSTRY     7.30     03/27/22    CNY     61.24
GUIYANG BAIYUN INDUSTRY     7.30     03/27/22    CNY     65.00
GUIYANG HI-TECH HOLDING     6.01     12/01/19    CNY     25.02
GUIYANG URBAN CONSTRUCT     5.23     12/02/22    CNY     74.00
GUIYANG URBAN DEVELOPME     6.20     02/28/20    CNY     20.05
GUIZHOU FANJINGSHAN INV     6.95     01/28/22    CNY     60.00
GUIZHOU FANJINGSHAN INV     6.95     01/28/22    CNY     61.53
GUIZHOU GUILONG INDUSTR     7.80     04/28/22    CNY     74.25
GUIZHOU HONGCAI INVESTM     6.00     06/07/23    CNY     72.02
GUIZHOU HONGCAI INVESTM     6.00     06/07/23    CNY     73.01
GUIZHOU RAILWAY INVESTM     7.20     03/27/22    CNY     62.95
GUIZHOU RAILWAY INVESTM     7.20     03/27/22    CNY     63.04
GUIZHOU RAILWAY INVESTM     7.50     04/23/24    CNY     74.14
HAICHENG URBAN JINCAI L     8.17     04/16/21    CNY     40.00
HAICHENG URBAN JINCAI L     8.56     12/19/20    CNY     40.84
HAICHENG URBAN JINCAI L     8.17     04/16/21    CNY     41.12
HAICHENG URBAN JINCAI L     8.56     12/19/20    CNY     49.00
HAIFENG MARINE INFRASTR     6.84     04/29/22    CNY     60.00
HAIFENG MARINE INFRASTR     6.84     04/29/22    CNY     60.71
HAIMEN CITY DEVELOPMENT     6.22     04/03/22    CNY     61.93
HAIMEN CITY DEVELOPMENT     6.22     04/03/22    CNY     62.20
HAINAN HARBOR & SHIPPIN     6.80     10/18/19    CNY     40.22
HAINAN HARBOR & SHIPPIN     6.80     10/18/19    CNY     40.55
HAINAN JINHAI PULP & PA     6.10     04/15/20    CNY     37.50
HAINAN JINHAI PULP & PA     6.10     04/15/20    CNY     40.31
HAINING CITY DEVELOPMEN     5.58     10/22/21    CNY     61.15
HAINING CITY DEVELOPMEN     5.58     10/22/21    CNY     65.20
HAINING CITY JIANSHAN D     6.90     11/04/20    CNY     40.79
HAINING CITY JIANSHAN D     6.90     11/04/20    CNY     41.42
HAINING STATE-OWNED ASS     6.08     03/06/20    CNY     20.32
HAIXI STATE DEVELOPMENT     8.60     01/02/21    CNY     41.28
HAIXI STATE DEVELOPMENT     8.60     01/02/21    CNY     42.00
HAIYAN COUNTY STATE-OWN     7.00     09/04/20    CNY     40.68
HAIYAN COUNTY STATE-OWN     7.00     09/04/20    CNY     40.70
HANDAN CONSTRUCTION & I     5.48     05/27/22    CNY     61.40
HANDAN CONSTRUCTION & I     5.48     05/27/22    CNY     67.20
HANGZHOU CANAL COMPREHE     6.00     04/02/20    CNY     20.30
HANGZHOU CANAL COMPREHE     6.00     04/02/20    CNY     20.33
HANGZHOU FUYANG CITY CO     7.20     03/19/21    CNY     41.33
HANGZHOU FUYANG CITY CO     7.20     03/19/21    CNY     41.33
HANGZHOU GONGSHU DISTRI     6.90     07/21/21    CNY     60.40
HANGZHOU GONGSHU DISTRI     6.90     07/21/21    CNY     61.87
HANGZHOU HIGH-TECH INDU     6.45     01/28/20    CNY     20.22
HANGZHOU HIGH-TECH INDU     6.45     01/28/20    CNY     22.40
HANGZHOU XIAOSHAN ECO&T     6.90     05/13/21    CNY     41.10
HANGZHOU XIAOSHAN ECO&T     6.90     05/13/21    CNY     41.56
HANGZHOU YUHANG CITY CO     7.00     03/03/21    CNY     41.35
HANGZHOU YUHANG CITY CO     7.00     03/03/21    CNY     41.40
HANGZHOU YUHANG ECONOMI     7.45     03/03/21    CNY     41.17
HANGZHOU YUHANG INNOVAT     6.50     03/18/20    CNY     20.00
HANGZHOU YUHANG INNOVAT     6.50     03/18/20    CNY     20.29
HANGZHOU YUHANG TRANSPO     7.19     04/18/21    CNY     41.56
HANGZHOU YUHANG TRANSPO     7.19     04/18/21    CNY     41.85
HANJIANG STATE-OWNED-AS     7.30     11/11/20    CNY     41.19
HANJIANG STATE-OWNED-AS     7.30     11/11/20    CNY     46.60
HEBEI RONG TOU HOLDING      6.76     07/08/21    CNY     68.03
HEBI ECONOMIC CONSTRUCT     7.88     08/01/21    CNY     61.26
HEBI ECONOMIC CONSTRUCT     7.88     08/01/21    CNY     63.26
HEFEI GAOXIN DEVELOPMEN     6.90     03/12/20    CNY     40.48
HEFEI INDUSTRIAL INVEST     6.30     03/20/20    CNY     20.32
HEFEI INDUSTRIAL INVEST     6.30     03/20/20    CNY     21.12
HEGANG KAIYUAN CITY INV     6.50     07/19/19    CNY     20.05
HEILONGJIANG HECHENG CO     7.05     06/21/22    CNY     45.27
HEILONGJIANG HECHENG CO     5.60     11/11/21    CNY     59.76
HEILONGJIANG HECHENG CO     5.60     11/11/21    CNY     60.00
HEILONGJIANG POST-DISAS     7.06     11/20/20    CNY     13.17
HEILONGJIANG POST-DISAS     7.10     11/19/20    CNY     35.49
HEILONGJIANG POST-DISAS     7.06     11/20/20    CNY     49.91
HEILONGJIANG POST-DISAS     7.10     11/19/20    CNY     50.79
HENAN JIYUAN CITY CONST     7.50     09/25/19    CNY     20.12
HENGYANG BAISHAZHOU DEV     6.87     08/22/21    CNY     58.93
HENGYANG BAISHAZHOU DEV     6.87     08/22/21    CNY     64.50
HENGYANG CITY CONSTRUCT     7.06     08/13/19    CNY     20.10
HENGYANG CITY CONSTRUCT     7.06     08/13/19    CNY     20.12
HENGYANG HONGXIANG STAT     6.20     06/19/20    CNY     20.00
HENGYANG HONGXIANG STAT     6.20     06/19/20    CNY     20.15
HENGYANG XIANGJIANG WAT     7.40     04/23/21    CNY     41.10
HENGYANG XIANGJIANG WAT     7.40     04/23/21    CNY     41.35
HEYUAN CITY RUNYE INVES     6.20     12/03/21    CNY     60.62
HEYUAN CITY RUNYE INVES     6.20     12/03/21    CNY     65.88
HEZE INVESTMENT DEVELOP     7.14     03/24/21    CNY     40.00
HEZE INVESTMENT DEVELOP     7.14     03/24/21    CNY     41.17
HEZHOU URBAN CONSTRUCTI     8.16     05/16/21    CNY     41.58
HONGHEZHOU ROAD DEVELOP     6.27     05/06/20    CNY     20.00
HONGHEZHOU ROAD DEVELOP     6.27     05/06/20    CNY     20.27
HUACHEN ENERGY CO LTD       6.63     05/18/20    USD     64.60
HUAIAN CITY URBAN ASSET     6.87     12/26/19    CNY     20.20
HUAIAN CITY URBAN ASSET     6.87     12/26/19    CNY     20.30
HUAIAN CITY URBAN ASSET     5.70     04/23/22    CNY     61.70
HUAIAN CITY URBAN ASSET     5.70     04/23/22    CNY     61.85
HUAI'AN DEVELOPMENT HOL     7.20     09/06/19    CNY     20.04
HUAI'AN DEVELOPMENT HOL     7.30     03/10/21    CNY     41.27
HUAI'AN DEVELOPMENT HOL     7.30     03/10/21    CNY     47.84
HUAIAN HONGRI TRANSPORT     5.09     04/20/23    CNY     65.84
HUAI'AN NEW CITY INVEST     7.45     03/04/21    CNY     40.00
HUAI'AN NEW CITY INVEST     7.45     03/04/21    CNY     41.25
HUAI'AN NEW CITY INVEST     6.95     07/28/21    CNY     61.24
HUAI'AN NEW CITY INVEST     6.95     07/28/21    CNY     67.50
HUAIAN QINGHE NEW AREA      6.68     01/24/20    CNY     20.19
HUAIAN QINGHE NEW AREA      6.68     01/24/20    CNY     24.14
HUAIHUA CITY INDUSTRIAL     7.70     10/29/20    CNY     40.20
HUAIHUA CITY INDUSTRIAL     7.70     10/29/20    CNY     40.27
HUAIHUA ECONOMIC DEVELO     6.80     03/26/22    CNY     60.00
HUAIHUA ECONOMIC DEVELO     6.80     03/26/22    CNY     60.52
HUAINAN URBAN CONSTRUCT     6.79     07/09/21    CNY     61.16
HUAINAN URBAN CONSTRUCT     6.79     07/09/21    CNY     61.65
HUANGGANG CITY CONSTRUC     7.45     03/04/21    CNY     41.10
HUANGGANG CITY CONSTRUC     7.45     03/04/21    CNY     41.69
HUANGGANG CITY CONSTRUC     8.60     12/25/20    CNY     41.78
HUANGGANG CITY CONSTRUC     8.60     12/25/20    CNY     43.50
HUANGSHAN CHENGTOU GROU     5.95     05/06/22    CNY     60.65
HUANGSHAN CHENGTOU GROU     5.95     05/06/22    CNY     61.48
HUANGSHI CIHU HIGH-TECH     8.70     12/05/20    CNY     41.33
HUANGSHI CIHU HIGH-TECH     9.30     01/21/21    CNY     41.73
HUANGSHI URBAN CONSTRUC     6.96     10/25/19    CNY     20.17
HUANGSHI URBAN CONSTRUC     5.99     04/29/22    CNY     60.00
HUANGSHI URBAN CONSTRUC     5.99     04/29/22    CNY     61.26
HUBEI FUXING SCIENCE AN     7.60     06/15/21    CNY     59.70
HUBEI PROVINCE CHANGJIA     6.15     04/03/22    CNY     62.17
HUBEI PROVINCE CHANGJIA     6.15     04/03/22    CNY     62.40
HUBEI QUANZHOU YANGTZE      6.50     04/02/20    CNY     40.22
HUBEI QUANZHOU YANGTZE      6.50     04/02/20    CNY     40.32
HUIAN STATE ASSETS INVE     7.50     10/15/19    CNY     20.03
HUIAN STATE ASSETS INVE     7.50     10/15/19    CNY     20.03
HULUDAO INVESTMENT GROU     7.05     10/18/20    CNY     40.52
HULUDAO INVESTMENT GROU     7.05     10/18/20    CNY     40.65
HULUDAO INVESTMENT GROU     7.50     10/18/23    CNY     67.70
HULUDAO INVESTMENT GROU     7.50     10/18/23    CNY     72.69
HULUNBEIER INVESTMENT C     6.31     04/30/22    CNY     60.00
HULUNBEIER INVESTMENT C     6.31     04/30/22    CNY     60.73
HUNAN CHANGDE DEYUAN IN     6.50     06/16/21    CNY     41.20
HUNAN CHANGDE DEYUAN IN     6.50     06/16/21    CNY     42.25
HUNAN LOUDI ECONOMIC &      6.36     03/13/22    CNY     57.20
HUNAN LOUDI ECONOMIC &      6.36     03/13/22    CNY     67.00
HUNAN LOUDI ECONOMIC &      4.89     03/30/23    CNY     73.95
HUNAN LOUDI ECONOMIC &      4.89     03/30/23    CNY     74.33
HUNAN TIER GROUP CO LTD     7.10     03/03/21    CNY     41.10
HUNAN TIER GROUP CO LTD     8.00     12/23/20    CNY     41.26
HUNAN TIER GROUP CO LTD     7.10     03/03/21    CNY     41.78
HUNAN TIER GROUP CO LTD     8.00     12/23/20    CNY     42.72
HUNAN TIER GROUP CO LTD     4.20     03/17/23    CNY     74.00
HUNAN XIANGJIANG NEW AR     7.36     03/17/21    CNY     40.00
HUNAN XIANGJIANG NEW AR     7.36     03/17/21    CNY     41.50
HUNNAN JINYANG INVESTME     5.70     11/27/21    CNY     58.60
HUNNAN JINYANG INVESTME     5.70     11/27/21    CNY     59.82
HUZHOU CITY INVESTMENT      6.70     12/14/19    CNY     20.13
HUZHOU URBAN CONSTRUCTI     6.48     08/28/21    CNY     61.11
HUZHOU URBAN CONSTRUCTI     6.48     08/28/21    CNY     62.38
HUZHOU WUXING NANTAIHU      8.79     01/16/21    CNY     40.80
HUZHOU WUXING NANTAIHU      8.79     01/16/21    CNY     41.27
HUZHOU XISAISHAN DEVELO     7.80     04/29/21    CNY     40.00
HUZHOU XISAISHAN DEVELO     7.80     04/29/21    CNY     41.68
INNER MONGOLIA KE'ERQIN     7.75     09/24/19    CNY     20.00
INNER MONGOLIA KE'ERQIN     7.75     09/24/19    CNY     20.08
INNER MONGOLIA KE'ERQIN     6.50     03/11/22    CNY     50.49
INNER MONGOLIA KE'ERQIN     6.50     03/11/22    CNY     60.00
INNER MONGOLIA KE'ERQIN     6.45     04/30/22    CNY     60.00
INNER MONGOLIA KE'ERQIN     6.45     04/30/22    CNY     60.16
INNER MONGOLIA SHENGXIA     8.18     08/21/21    CNY     60.91
INNER MONGOLIA SHENGXIA     8.18     08/21/21    CNY     64.00
INNER MONGOLIA ZHUNGEER     6.54     12/31/21    CNY     60.82
INNER MONGOLIA ZHUNGEER     6.54     12/31/21    CNY     62.01
JIAN CITY JINGANGSHAN D     7.99     06/03/21    CNY     41.00
JIANAN INVESTMENT HOLDI     7.68     09/04/19    CNY     20.16
JIANAN INVESTMENT HOLDI     6.85     05/23/21    CNY     41.41
JIANAN INVESTMENT HOLDI     6.85     05/23/21    CNY     46.50
JIANGDONG HOLDING GROUP     7.14     04/24/21    CNY     41.69
JIANGMEN BINJIANG CONST     6.60     02/28/20    CNY     20.38
JIANGMEN BINJIANG CONST     6.60     02/28/20    CNY     20.41
JIANGMEN NEW HI-TECH IN     7.39     11/04/20    CNY     40.85
JIANGMEN NEW HI-TECH IN     7.39     11/04/20    CNY     40.90
JIANGMEN NEW HI-TECH IN     6.03     04/22/22    CNY     61.39
JIANGSU FURU DONGHAI DE     7.09     09/13/20    CNY     40.00
JIANGSU FURU DONGHAI DE     7.09     09/13/20    CNY     40.37
JIANGSU HAIZHOUWAN DEVE     5.37     03/29/23    CNY     59.50
JIANGSU HENGYUAN INVEST     8.60     01/09/21    CNY     41.49
JIANGSU HENGYUAN INVEST     8.60     01/09/21    CNY     49.30
JIANGSU HUAJING ASSETS      6.00     05/16/20    CNY     20.16
JIANGSU HUAJING ASSETS      6.00     05/16/20    CNY     20.30
JIANGSU JINGUAN INVESTM     7.90     04/08/21    CNY     40.00
JIANGSU JINGUAN INVESTM     7.90     04/08/21    CNY     41.12
JIANGSU JINTAN GUOFA IN     6.85     05/30/21    CNY     40.00
JIANGSU JINTAN GUOFA IN     6.85     05/30/21    CNY     40.83
JIANGSU JURONG FUDI BIO     7.70     03/21/21    CNY     71.00
JIANGSU JURONG FUDI BIO     7.70     03/21/21    CNY     72.25
JIANGSU NANTONG NO2 CON     8.10     07/10/21    CNY     60.07
JIANGSU NEWHEADLINE DEV     7.00     08/27/20    CNY     40.38
JIANGSU NEWHEADLINE DEV     7.00     08/27/20    CNY     44.90
JIANGSU SUHAI INVESTMEN     7.20     11/07/19    CNY     20.13
JIANGSU SUHAI INVESTMEN     7.20     11/07/19    CNY     20.25
JIANGSU SUHAI INVESTMEN     7.28     05/29/21    CNY     41.31
JIANGSU SUHAI INVESTMEN     7.28     05/29/21    CNY     45.00
JIANGSU TAICANG PORT DE     7.40     04/28/21    CNY     40.00
JIANGSU TAICANG PORT DE     7.40     04/28/21    CNY     41.50
JIANGSU WANGTAO INVESTM     6.82     09/15/20    CNY     50.82
JIANGSU WANGTAO INVESTM     6.82     09/15/20    CNY     51.10
JIANGSU WUZHONG ECONOMI     5.49     11/19/21    CNY     60.32
JIANGSU WUZHONG ECONOMI     5.49     11/19/21    CNY     61.25
JIANGSU XISHAN ECONOMIC     6.99     11/01/19    CNY     20.14
JIANGSU XISHAN ECONOMIC     6.99     11/01/19    CNY     31.00
JIANGSU YANGKOU PORT CO     6.23     04/10/22    CNY     60.93
JIANGSU YANGKOU PORT CO     6.23     04/10/22    CNY     67.50
JIANGSU YIXING ECONOMIC     7.69     04/18/21    CNY     41.14
JIANGSU YIXING ECONOMIC     7.69     04/18/21    CNY     50.19
JIANGSU ZHANGJIAGANG EC     6.98     11/16/19    CNY     20.17
JIANGSU ZHANGJIAGANG EC     6.98     11/16/19    CNY     20.25
JIANGSU ZHUFU INDUSTRIA     4.93     12/29/20    CNY     69.88
JIANGXI HEJI INVESTMENT     8.00     09/04/19    CNY     20.06
JIANGXI HEJI INVESTMENT     8.00     09/04/19    CNY     20.07
JIANGXI PINGXIANG CHANG     8.18     05/22/21    CNY     40.98
JIANGXI PINGXIANG CHANG     8.18     05/22/21    CNY     49.34
JIANGXI PROVINCE SITONG     8.20     04/18/21    CNY     41.05
JIANGXI PROVINCE SITONG     8.20     04/18/21    CNY     41.09
JIANGYIN GAOXIN DISTRIC     6.60     02/27/20    CNY     20.27
JIANGYIN LINGANG NEW CI     7.10     11/07/20    CNY     40.40
JIANGYIN LINGANG NEW CI     7.10     11/07/20    CNY     41.00
JIANHU COUNTY DEVELOPME     7.29     09/25/21    CNY     60.78
JIANHU COUNTY DEVELOPME     7.29     09/25/21    CNY     62.75
JIANHU URBAN CONSTRUCTI     6.50     02/22/20    CNY     20.19
JIANHU URBAN CONSTRUCTI     6.50     02/22/20    CNY     21.50
JIANHU URBAN CONSTRUCTI     6.30     06/01/22    CNY     60.95
JIANHU URBAN CONSTRUCTI     6.30     06/01/22    CNY     62.86
JIASHAN ECONOMIC DEVELO     7.05     12/03/19    CNY     20.28
JIASHAN ECONOMIC DEVELO     7.05     12/03/19    CNY     24.43
JIAXING ECONOMIC&TECHNO     7.89     03/05/21    CNY     41.79
JIAXING ECONOMIC&TECHNO     7.89     03/05/21    CNY     45.17
JIAXING NANHU INVESTMEN     7.45     02/26/21    CNY     41.27
JIAYUGUAN CITY INFRASTR     7.83     09/23/21    CNY     60.00
JIAYUGUAN CITY INFRASTR     7.83     09/23/21    CNY     60.92
JIEYANGSHI CHENGSHI TOU     6.55     08/27/21    CNY     61.29
JILIN CITY CONSTRUCTION     6.34     02/26/20    CNY     20.14
JILIN CITY CONSTRUCTION     6.34     02/26/20    CNY     25.00
JILIN LIYUAN PRECISION      7.00     09/22/19    CNY     16.00
JILIN RAILWAY INVESTMEN     7.18     03/04/21    CNY     40.84
JINAN CITY CONSTRUCTION     6.80     03/20/21    CNY     41.25
JINAN CITY CONSTRUCTION     6.80     03/20/21    CNY     41.41
JINAN CITY LICHENG DIST     5.00     06/23/22    CNY     60.01
JINAN HI-TECH HOLDING G     6.38     06/19/21    CNY     41.12
JINAN XIAOQINGHE DEVELO     7.15     09/05/19    CNY     20.08
JINCHENG CITY STATE OWN     4.99     11/11/21    CNY     59.00
JINCHENG CITY STATE OWN     4.99     11/11/21    CNY     60.60
JINGDEZHEN STATE-OWNED      6.59     06/25/20    CNY     40.45
JINGHONG STATE-OWNED AS     8.08     05/23/21    CNY     39.00
JINGHONG STATE-OWNED AS     8.08     05/23/21    CNY     40.65
JINGJIANG HARBOUR GROUP     7.30     08/05/21    CNY     60.75
JINGJIANG HARBOUR GROUP     7.30     08/05/21    CNY     68.68
JINGMEN CITY CONSTRUCTI     7.00     10/17/20    CNY     40.77
JINGMEN CITY CONSTRUCTI     6.85     07/09/22    CNY     61.81
JINGMEN CITY CONSTRUCTI     6.85     07/09/22    CNY     62.00
JINGZHOU ECONOMIC TECHN     8.20     12/09/20    CNY     41.19
JINGZHOU ECONOMIC TECHN     8.20     12/09/20    CNY     41.80
JINHU COUNTY STATE-OWNE     7.75     08/25/21    CNY     61.43
JINHU COUNTY STATE-OWNE     7.75     08/25/21    CNY     66.95
JINING CITY SHIZHONG DI     6.39     01/29/22    CNY     61.42
JINING CITY SHIZHONG DI     6.39     01/29/22    CNY     64.44
JINING HI-TECH TOWN CON     6.09     04/30/22    CNY     61.50
JINING HI-TECH TOWN CON     6.09     04/30/22    CNY     61.76
JINSHAN STATE-OWNED ASS     6.65     11/27/19    CNY     20.16
JINZHONG CITY PUBLIC IN     6.50     03/18/20    CNY     20.00
JINZHONG CITY PUBLIC IN     6.50     03/18/20    CNY     20.16
JINZHOU CITY INVESTMENT     8.50     12/27/20    CNY     41.27
JINZHOU CITY INVESTMENT     8.50     12/27/20    CNY     41.95
JINZHOU CITY INVESTMENT     6.44     08/18/21    CNY     60.57
JINZHOU CITY INVESTMENT     6.44     08/18/21    CNY     64.91
JINZHOU HUAXING INVESTM     8.38     02/25/21    CNY     41.10
JINZHOU HUAXING INVESTM     9.10     01/21/21    CNY     41.45
JISHOU HUATAI STATE OWN     7.18     02/09/22    CNY     60.65
JISHOU HUATAI STATE OWN     7.18     02/09/22    CNY     62.82
JIUJIANG CITY CONSTRUCT     5.50     05/22/22    CNY     59.55
JIUJIANG CITY CONSTRUCT     5.50     05/22/22    CNY     61.34
JIUJIANG LAND INVESTMEN     6.20     03/23/22    CNY     60.36
JIUJIANG LAND INVESTMEN     6.20     03/23/22    CNY     61.82
JIUJIANG STATE-OWNED AS     6.68     03/07/20    CNY     20.29
JIUJIANG STATE-OWNED AS     6.68     03/07/20    CNY     20.30
JIUQUAN ECONOMIC DEVELO     7.40     02/26/21    CNY     41.19
JIXI STATE OWN ASSET MA     6.87     01/19/22    CNY     48.50
JIXI STATE OWN ASSET MA     6.87     01/19/22    CNY     60.85
KAIFENG DEVELOPMENT INV     6.47     07/11/19    CNY     20.02
KAIFENG NEW DISTRICT IN     6.35     03/23/22    CNY     60.00
KAIFENG NEW DISTRICT IN     6.35     03/23/22    CNY     60.11
KANGDE XIN COMPOSITE MA     5.50     01/15/19    CNY     55.00
KANGDE XIN COMPOSITE MA     5.50     02/15/22    CNY     55.00
KANGMEI PHARMACEUTICAL      5.29     08/16/22    CNY     10.52
KANGMEI PHARMACEUTICAL      5.20     07/17/22    CNY     11.77
KANGMEI PHARMACEUTICAL      5.47     09/15/22    CNY     12.16
KANGMEI PHARMACEUTICAL      7.00     09/03/19    CNY     14.00
KANGMEI PHARMACEUTICAL      6.80     06/28/21    CNY     14.00
KANGMEI PHARMACEUTICAL      7.00     06/21/21    CNY     14.00
KANGMEI PHARMACEUTICAL      6.28     03/20/21    CNY     14.76
KANGMEI PHARMACEUTICAL      6.10     03/28/21    CNY     14.82
KANGMEI PHARMACEUTICAL      5.50     04/20/21    CNY     15.31
KANGMEI PHARMACEUTICAL      5.33     01/27/22    CNY     36.69
KASHGAR SHENKA INVESTME     7.08     07/07/20    CNY     49.75
KASHGAR SHENKA INVESTME     7.08     07/07/20    CNY     50.63
KUERLE CITY CONSTRUCTIO     6.99     05/20/20    CNY     25.49
KUERLE CITY CONSTRUCTIO     6.99     05/20/20    CNY     25.52
KUNMING DIANCHI INVESTM     6.50     02/01/20    CNY     20.21
KUNMING DIANCHI INVESTM     6.50     02/01/20    CNY     20.22
KUNMING DONGJUN REAL ES     4.50     11/02/21    CNY     73.91
KUNMING EXPRESSWAY CONS     7.50     01/21/20    CNY     20.23
KUNMING INDUSTRIAL DEVE     6.46     10/23/19    CNY     20.13
KUNMING INDUSTRIAL DEVE     6.46     10/23/19    CNY     23.01
KUNSHAN CHUANGYE HOLDIN     6.28     11/07/19    CNY     20.11
KUNSHAN COMMUNICATION D     6.95     05/22/21    CNY     41.62
KUNSHAN COMMUNICATION D     6.95     05/22/21    CNY     45.45
KUNSHAN HIGH TECHNOLOGY     7.10     03/26/21    CNY     41.25
LAIWU CITY ECONOMIC DEV     7.08     02/28/21    CNY     41.34
LAIWU CITY ECONOMIC DEV     7.08     02/28/21    CNY     41.40
LANZHOU NATIONAL CAPITA     6.32     09/10/21    CNY     54.90
LANZHOU NATIONAL CAPITA     6.32     09/10/21    CNY     59.87
LEIYANG CITY AND RURAL      7.80     04/10/22    CNY     57.50
LEIYANG CITY AND RURAL      7.80     04/10/22    CNY     65.00
LEQING CITY STATE OWNED     6.50     06/29/19    CNY     20.02
LEQING CITY STATE OWNED     6.50     06/29/19    CNY     20.02
LEQING CITY STATE OWNED     5.99     10/20/21    CNY     60.85
LEQING CITY STATE OWNED     5.99     10/20/21    CNY     61.14
LESHAN STATE-OWNED ASSE     5.68     10/22/21    CNY     60.79
LESHAN STATE-OWNED ASSE     5.68     10/22/21    CNY     65.60
LIANYUNGANG TRANSPORT G     5.47     11/17/21    CNY     60.39
LIANYUNGANG TRANSPORT G     5.47     11/17/21    CNY     65.00
LIAONING COASTAL ECONOM     8.90     04/01/21    CNY      7.27
LIAONING COASTAL ECONOM     8.90     04/01/21    CNY     11.57
LILING LUJIANG INVESTME     8.10     05/22/21    CNY     41.16
LILING LUJIANG INVESTME     8.10     05/22/21    CNY     43.00
LILING LUJIANG INVESTME     7.18     09/05/21    CNY     61.02
LILING LUJIANG INVESTME     7.18     09/05/21    CNY     65.23
LINCANG STATE-OWNED ASS     6.58     04/11/20    CNY     20.32
LINFEN CITY INVESTMENT      6.20     05/23/20    CNY     20.23
LINFEN CITY INVESTMENT      6.20     05/23/20    CNY     20.25
LINFEN YAODU DISTRICT I     6.99     09/27/20    CNY     40.00
LINFEN YAODU DISTRICT I     6.99     09/27/20    CNY     40.24
LINFEN YAODU DISTRICT I     7.19     03/13/22    CNY     60.30
LINFEN YAODU DISTRICT I     7.19     03/13/22    CNY     60.37
LINHAI CITY INFRASTRUCT     6.30     03/21/20    CNY     20.06
LINHAI CITY INFRASTRUCT     6.30     03/21/20    CNY     20.50
LINYI ECONOMIC DEVELOPM     8.26     09/24/19    CNY     20.15
LINZHOU ECONOMIC & TECH     8.30     04/25/20    CNY     25.00
LINZHOU ECONOMIC & TECH     8.30     04/25/20    CNY     25.48
LISHUI CITY CONSTRUCTIO     6.00     05/23/20    CNY     20.10
LISHUI CITY CONSTRUCTIO     6.00     05/23/20    CNY     20.14
LIUYANG URBAN CONSTRUCT     6.98     08/22/21    CNY     61.71
LIUZHOU CITY INVESTMENT     7.18     12/31/22    CNY     62.19
LIUZHOU DONGCHENG INVES     7.40     10/29/20    CNY     40.91
LIUZHOU DONGCHENG INVES     7.40     10/29/20    CNY     41.00
LIUZHOU INVESTMENT HOLD     6.98     08/15/19    CNY     20.06
LIUZHOU LONGJIAN INVEST     8.28     04/30/24    CNY     74.62
LIYANG CITY CONSTRUCTIO     6.20     03/08/20    CNY     20.10
LIYANG CITY CONSTRUCTIO     6.20     03/08/20    CNY     20.18
LIYANG KUNLUN URBAN CON     5.90     10/24/21    CNY     58.00
LIYANG KUNLUN URBAN CON     5.90     10/24/21    CNY     60.84
LONGHAI STATE-OWNED ASS     6.58     08/15/21    CNY     60.85
LOUDI CITY CONSTRUCTION     7.95     04/15/21    CNY     41.61
LOUDI CITY CONSTRUCTION     7.95     04/15/21    CNY     50.31
LOUDI TIDU INVESTMENT D     7.18     08/27/21    CNY     60.00
LOUDI TIDU INVESTMENT D     7.18     08/27/21    CNY     61.43
LUJIANG CITY CONSTRUCTI     6.70     04/16/22    CNY     60.00
LUJIANG CITY CONSTRUCTI     6.70     04/16/22    CNY     60.67
LUOHE CITY CONSTRUCTION     6.99     10/30/19    CNY     20.13
LUOHE CITY CONSTRUCTION     5.25     09/11/20    CNY     70.43
MA'ANSHAN CIHU HIGH TEC     6.85     09/09/21    CNY     61.54
MA'ANSHAN CIHU HIGH TEC     6.85     09/09/21    CNY     63.00
MAANSHAN ECONOMIC TECHN     7.10     12/20/19    CNY     20.22
MAANSHAN ECONOMIC TECHN     7.10     12/20/19    CNY     21.13
MAANSHAN ECONOMIC TECHN     6.49     03/06/22    CNY     60.98
MAANSHAN ECONOMIC TECHN     6.49     03/06/22    CNY     64.99
MAANSHAN HUASHAN DISTRI     6.07     04/20/22    CNY     60.99
MAANSHAN HUASHAN DISTRI     6.07     04/20/22    CNY     61.94
MACROLINK HOLDING CO LT     6.98     03/06/20    CNY     67.98
MEISHAN CITY ASSET OPER     7.84     02/26/21    CNY     41.38
MEISHAN HONGDA CONSTRUC     6.56     06/19/20    CNY     40.40
MEIZHOU CITY XIN JIN YE     6.02     04/22/22    CNY     61.21
MEIZHOU CITY XIN JIN YE     6.02     04/22/22    CNY     65.32
MEIZHOU KANGDA HIGHWAY      6.95     09/10/20    CNY     40.43
MEIZHOU KANGDA HIGHWAY      6.95     09/10/20    CNY     40.68
MUDANJIANG STATE-OWNED      7.70     04/14/21    CNY     40.90
MUDANJIANG STATE-OWNED      7.70     04/14/21    CNY     40.90
NANCHANG CITY CONSTRUCT     6.19     02/20/20    CNY     20.34
NANCHANG CITY CONSTRUCT     6.19     02/20/20    CNY     20.36
NANCHANG COUNTY URBAN C     6.50     07/17/19    CNY     25.03
NANCHANG COUNTY URBAN C     6.50     07/17/19    CNY     25.15
NANCHANG ECONOMY TECHNO     6.88     01/09/20    CNY     20.21
NANCHANG MUNICIPAL PUBL     5.88     02/25/20    CNY     20.20
NANCHANG MUNICIPAL PUBL     5.88     02/25/20    CNY     20.45
NANCHANG WATER CONSERVA     6.28     06/21/20    CNY     20.36
NANCHANG WATER CONSERVA     6.28     06/21/20    CNY     20.37
NANCHONG AIRPORT INVEST     6.80     01/26/22    CNY     60.80
NANCHONG AIRPORT INVEST     6.80     01/26/22    CNY     61.37
NANCHONG ECONOMIC DEVEL     8.28     04/21/21    CNY     41.18
NANCHONG ECONOMIC DEVEL     8.28     04/21/21    CNY     51.20
NANJING HEXI NEW TOWN A     3.47     06/17/21    CNY     69.50
NANJING JIANGBEI NEW AR     6.94     09/07/19    CNY     20.09
NANJING JIANGBEI NEW AR     6.94     09/07/19    CNY     22.52
NANJING LISHUI ECONOMIC     6.27     09/22/21    CNY     61.46
NANJING LISHUI ECONOMIC     6.27     09/22/21    CNY     62.10
NANJING LISHUI URBAN CO     5.80     05/29/20    CNY     20.27
NANJING LISHUI URBAN CO     5.80     05/29/20    CNY     20.50
NANJING PUKOU ECONOMIC      7.10     10/08/19    CNY     20.00
NANJING PUKOU ECONOMIC      7.10     10/08/19    CNY     20.13
NANJING STATE OWNED ASS     5.40     03/06/20    CNY     20.21
NANJING STATE OWNED ASS     5.60     03/06/23    CNY     62.22
NANJING TANGSHAN CONSTR     6.80     06/30/21    CNY     61.26
NANJING TANGSHAN CONSTR     6.80     06/30/21    CNY     66.80
NANJING XINGANG DEVELOP     6.80     01/08/20    CNY     20.10
NANNING LVGANG CONSTRUC     7.30     06/27/21    CNY     61.45
NANNING LVGANG CONSTRUC     7.30     06/27/21    CNY     64.80
NANPING CITY WUYI NEW D     6.70     08/06/20    CNY     40.46
NANPING CITY WUYI NEW D     6.70     08/06/20    CNY     40.83
NANTONG CHONGCHUAN URBA     7.15     04/18/21    CNY     41.44
NANTONG CHONGCHUAN URBA     7.15     04/18/21    CNY     45.40
NANTONG CITY GANGZHA DI     7.15     01/09/20    CNY     20.24
NANTONG CITY GANGZHA DI     7.15     01/09/20    CNY     24.00
NANTONG ECONOMIC & TECH     5.80     05/17/20    CNY     20.25
NANTONG ECONOMIC & TECH     5.80     05/17/20    CNY     20.28
NANTONG SUTONG SCIENCE      6.20     03/18/22    CNY     60.00
NANTONG SUTONG SCIENCE      6.20     03/18/22    CNY     61.22
NANYANG INVESTMENT GROU     7.05     10/24/20    CNY     40.91
NEIJIANG INVESTMENT HOL     7.99     04/24/21    CNY     41.66
NEIJIANG INVESTMENT HOL     7.99     04/24/21    CNY     48.53
NEOGLORY HOLDING GROUP      8.00     10/22/20    CNY     56.00
NEOGLORY HOLDING GROUP      8.00     09/25/20    CNY     60.00
NEOGLORY HOLDING GROUP      8.10     11/23/18    CNY     72.00
NINGBO CITY HAISHU GUAN     7.75     03/06/21    CNY     41.55
NINGBO CITY HAISHU GUAN     7.75     03/06/21    CNY     46.30
NINGBO CITY ZHENHAI INV     5.85     12/04/21    CNY     61.18
NINGBO CITY ZHENHAI INV     5.85     12/04/21    CNY     61.49
NINGBO EASTERN NEW TOWN     6.45     01/21/20    CNY     20.29
NINGBO EASTERN NEW TOWN     6.45     01/21/20    CNY     20.32
NINGBO ECONOMIC & TECHN     7.09     04/21/21    CNY     41.54
NINGBO ECONOMIC & TECHN     7.09     04/21/21    CNY     49.00
NINGBO MEISHAN ISLAND D     6.27     03/23/22    CNY     61.84
NINGBO MEISHAN ISLAND D     6.27     03/23/22    CNY     68.29
NINGBO SHUNNONG GROUP C     7.20     10/16/19    CNY     20.14
NINGBO YINCHENG GROUP C     6.50     03/18/20    CNY     20.40
NINGBO YINCHENG GROUP C     6.50     03/18/20    CNY     20.41
NINGGUO CITY STATE OWNE     8.70     04/28/21    CNY     40.00
NINGGUO CITY STATE OWNE     8.70     04/28/21    CNY     41.66
NINGHAI COUNTY URBAN IN     8.00     01/02/21    CNY     41.24
NINGHAI COUNTY URBAN IN     7.99     04/16/21    CNY     41.50
NINGHAI COUNTY URBAN IN     7.99     04/16/21    CNY     41.51
NINGHAI COUNTY URBAN IN     8.00     01/02/21    CNY     45.00
NINGXIANG CITY CONSTRUC     6.70     01/20/22    CNY     60.20
NINGXIANG CITY CONSTRUC     6.70     01/20/22    CNY     61.88
NINGXIANG ECONOMIC TECH     8.20     04/16/21    CNY     41.59
NINGXIANG ECONOMIC TECH     8.20     04/16/21    CNY     42.70
PANJIN CITY SHUANGTAIZI     7.25     01/22/22    CNY     60.54
PANJIN CITY SHUANGTAIZI     7.25     01/22/22    CNY     61.40
PANSHAN COUNTY STATE-OW     7.48     01/21/22    CNY     60.00
PANSHAN COUNTY STATE-OW     7.48     01/21/22    CNY     61.96
PANZHIHUA STATE OWNED A     5.41     07/29/20    CNY     39.30
PANZHIHUA STATE OWNED A     7.60     03/05/21    CNY     40.32
PANZHIHUA STATE OWNED A     7.60     03/05/21    CNY     41.35
PANZHIHUA STATE OWNED A     8.18     03/13/22    CNY     62.88
PEIXIAN STATE-OWNED ASS     7.20     12/06/19    CNY     20.18
PINGHU CITY INVESTMENT      7.20     09/18/19    CNY     20.09
PINGHU CITY INVESTMENT      7.20     09/18/19    CNY     20.10
PINGHU ECONOMIC DEVELOP     7.99     04/17/21    CNY     41.39
PINGHU ECONOMIC DEVELOP     7.99     04/17/21    CNY     43.00
PINGLIANG CHENGXIANG CO     7.10     09/17/20    CNY     40.65
PINGTAN COMPOSITE EXPER     6.58     03/15/20    CNY     20.20
PINGTAN COMPOSITE EXPER     6.58     03/15/20    CNY     20.21
PINGXIANG HUIFENG INVES     6.60     01/26/22    CNY     60.00
PINGXIANG HUIFENG INVES     6.60     01/26/22    CNY     60.74
PINGXIANG URBAN CONSTRU     6.89     12/10/19    CNY     20.12
PINGXIANG URBAN CONSTRU     6.89     12/10/19    CNY     20.14
PIZHOU CITY HENGRUN INV     6.46     12/05/21    CNY     61.17
PIZHOU CITY HENGRUN INV     6.46     12/05/21    CNY     62.46
PIZHOU RUNCHENG ASSET O     7.55     09/25/19    CNY     20.08
PIZHOU RUNCHENG ASSET O     7.55     09/25/19    CNY     20.13
PIZHOU RUNCHENG ASSET O     7.88     04/16/21    CNY     41.96
PIZHOU RUNCHENG ASSET O     7.88     04/16/21    CNY     48.80
PUTIAN HIGH TECHNOLOGY      5.90     05/03/22    CNY     75.29
PUYANG INVESTMENT GROUP     8.00     12/11/20    CNY     40.00
PUYANG INVESTMENT GROUP     8.00     12/11/20    CNY     40.95
QIANAN URBAN CONSTRUCTI     8.88     01/23/21    CNY     40.00
QIANAN URBAN CONSTRUCTI     8.88     01/23/21    CNY     41.79
QIANAN URBAN CONSTRUCTI     7.19     08/11/21    CNY     60.00
QIANAN URBAN CONSTRUCTI     7.19     08/11/21    CNY     61.64
QIANAN XINGYUAN WATER I     6.25     04/22/22    CNY     61.49
QIANAN XINGYUAN WATER I     6.25     04/22/22    CNY     66.90
QIANDONGNAN TRANSPORTAT     5.79     12/21/22    CNY     73.96
QIANDONGNANZHOU KAIHONG     7.80     10/30/19    CNY     19.92
QIANJIANG URBAN CONSTRU     8.38     04/22/21    CNY     41.00
QIANJIANG URBAN CONSTRU     8.38     04/22/21    CNY     41.47
QIANNANZHOU INVESTMENT      6.43     03/09/22    CNY     59.88
QIANNANZHOU INVESTMENT      6.43     03/09/22    CNY     66.80
QIANXI NANZHOU HONGSHEN     6.99     11/22/19    CNY     19.99
QIANXI NANZHOU HONGSHEN     6.99     11/22/19    CNY     20.06
QIDONG STATE-OWNED ASSE     7.30     11/20/22    CNY     62.46
QIDONG URBAN CONSTRUCTI     7.90     04/28/21    CNY     41.50
QIDONG URBAN CONSTRUCTI     7.90     04/28/21    CNY     41.66
QIDONG URBAN CONSTRUCTI     8.20     04/04/21    CNY     41.78
QINGDAO CONSON DEVELOPM     6.40     12/12/22    CNY     62.38
QINGDAO CONSON DEVELOPM     6.40     12/12/22    CNY     62.98
QINGDAO HICREAT DEVELOP     6.88     04/25/21    CNY     41.13
QINGDAO HICREAT DEVELOP     6.88     04/25/21    CNY     41.51
QINGDAO JIAOZHOU CITY D     6.59     01/25/20    CNY     20.27
QINGDAO JIAOZHOUWAN DEV     6.33     09/18/21    CNY     61.37
QINGDAO JIAOZHOUWAN DEV     6.33     09/18/21    CNY     61.50
QINGDAO JIMO CITY TOURI     5.47     11/17/21    CNY     60.80
QINGDAO JIMO CITY TOURI     5.47     11/17/21    CNY     61.05
QINGDAO JIMO CITY URBAN     8.10     12/17/19    CNY     25.39
QINGDAO JIMO CITY URBAN     8.10     12/17/19    CNY     25.90
QINGDAO LAIXI CITY ASSE     7.50     03/06/21    CNY     40.62
QINGDAO LAIXI CITY ASSE     7.50     03/06/21    CNY     48.79
QINGHAI PROVINCIAL INVE     6.40     07/10/21    USD     74.80
QINGYANG CITY ECONOMIC      7.98     04/16/21    CNY     41.06
QINGYUAN TRANSPORTATION     8.20     12/19/20    CNY     41.57
QINGZHOU HONGYUAN PUBLI     7.35     10/19/19    CNY     20.00
QINGZHOU HONGYUAN PUBLI     7.35     10/19/19    CNY     20.15
QINGZHOU HONGYUAN PUBLI     7.59     05/29/21    CNY     41.83
QINHUANGDAO DEVELOPMENT     8.00     12/17/20    CNY     40.00
QINHUANGDAO DEVELOPMENT     8.00     12/17/20    CNY     40.78
QINHUANGDAO DEVELOPMENT     8.45     04/18/21    CNY     41.57
QINHUANGDAO DEVELOPMENT     8.45     04/18/21    CNY     44.61
QINZHOU BINHAI NEW CITY     7.00     08/27/20    CNY     40.55
QINZHOU BINHAI NEW CITY     7.00     08/27/20    CNY     41.50
QINZHOU BINHAI NEW CITY     6.99     07/07/21    CNY     60.00
QINZHOU BINHAI NEW CITY     6.99     07/07/21    CNY     60.80
QINZHOU CITY DEVELOPMEN     7.10     10/16/19    CNY     40.10
QINZHOU CITY DEVELOPMEN     7.10     10/16/19    CNY     40.24
QIONGLAI CITY CONSTRUCT     6.98     03/25/22    CNY     60.62
QIONGLAI CITY CONSTRUCT     6.98     03/25/22    CNY     64.90
QUJING DEVELOPMENT INVE     7.25     09/06/19    CNY     20.07
QUJING DEVELOPMENT INVE     7.25     09/06/19    CNY     22.00
QUJING DEVELOPMENT INVE     7.48     04/28/21    CNY     41.47
QUJING DEVELOPMENT INVE     7.48     04/28/21    CNY     42.55
QUJING ECO TECH DEVELOP     7.48     07/21/21    CNY     60.55
QUZHOU STATE OWNED ASSE     7.20     04/21/21    CNY     41.61
RENHUAI CITY DEVELOPMEN     8.09     05/16/21    CNY     41.81
RENHUAI CITY DEVELOPMEN     8.09     05/16/21    CNY     41.81
REWARD SCIENCE AND TECH     5.53     07/05/21    CNY     29.10
REWARD SCIENCE AND TECH     6.40     03/03/22    CNY     70.00
RIGHT WAY REAL ESTATE D     7.30     07/15/21    CNY     40.20
RIZHAO CITY CONSTRUCTIO     5.80     06/06/20    CNY     20.18
RUCHENG COUNTY HYDROPOW     6.65     04/25/20    CNY     40.48
RUDONG COUNTY DONGTAI S     7.45     09/24/19    CNY     19.50
RUDONG COUNTY DONGTAI S     7.45     09/24/19    CNY     20.15
RUDONG COUNTY DONGTAI S     6.99     06/20/21    CNY     41.25
RUDONG COUNTY DONGTAI S     6.99     06/20/21    CNY     45.90
RUDONG COUNTY JINXIN TR     8.08     03/03/21    CNY     41.10
RUDONG COUNTY JINXIN TR     8.08     03/03/21    CNY     44.03
RUGAO CITY ECONOMIC TRA     8.30     01/22/21    CNY     41.82
RUGAO CITY ECONOMIC TRA     8.30     01/22/21    CNY     49.00
RUGAO COMMUNICATIONS CO     6.70     02/01/20    CNY     20.31
RUGAO COMMUNICATIONS CO     6.70     02/01/20    CNY     20.81
RUGAO YANJIANG DEVELOPM     8.60     01/24/21    CNY     41.71
RUGAO YANJIANG DEVELOPM     8.60     01/24/21    CNY     42.43
RUIAN STATE OWNED ASSET     6.93     11/26/19    CNY     20.26
RUIAN STATE OWNED ASSET     6.93     11/26/19    CNY     20.40
RUICHANG CITY INVESTMEN     5.68     03/25/23    CNY     68.68
RUNHUA GROUP CO LTD         7.80     08/27/21    CNY     74.96
RUZHOU CITY XINYUAN INV     6.30     09/16/21    CNY     74.57
SANMEN COUNTY STATE-OWN     6.80     03/18/22    CNY     59.91
SANMEN COUNTY STATE-OWN     6.80     03/18/22    CNY     60.00
SANMEN COUNTY STATE-OWN     6.85     10/29/21    CNY     60.00
SANMEN COUNTY STATE-OWN     6.85     10/29/21    CNY     60.93
SHAANXI ANKANG HIGH TEC     8.78     09/17/21    CNY     61.91
SHAANXI ANKANG HIGH TEC     8.78     09/17/21    CNY     67.00
SHAANXI PROVINCIAL EXPR     5.99     06/18/20    CNY     61.37
SHAANXI XIXIAN NEW AREA     6.85     08/15/21    CNY     60.10
SHAANXI XIXIAN NEW AREA     6.85     08/15/21    CNY     65.50
SHAANXI XIXIAN NEW AREA     6.89     01/05/22    CNY     61.36
SHAANXI XIXIAN NEW AREA     6.89     01/05/22    CNY     63.10
SHANDONG BOXING COUNTY      8.00     12/22/21    CNY     62.41
SHANDONG BOXING COUNTY      8.00     12/22/21    CNY     62.82
SHANDONG CENTURY SUNSHI     8.19     07/21/21    CNY     62.01
SHANDONG CENTURY SUNSHI     8.19     07/21/21    CNY     62.15
SHANDONG FUYU CHEMICAL      7.70     09/18/22    CNY     70.00
SHANDONG GAOCHUANG CONS     6.05     06/18/22    CNY     60.72
SHANDONG GAOCHUANG CONS     6.05     06/18/22    CNY     62.45
SHANDONG HONGHE HOLDING     8.50     06/23/21    CNY     41.17
SHANDONG HONGHE HOLDING     8.50     06/23/21    CNY     44.00
SHANDONG JINMAO TEXTILE     6.97     04/01/21    CNY     20.70
SHANDONG JINMAO TEXTILE     8.00     09/25/20    CNY     35.84
SHANDONG PUBLIC HOLDING     7.18     01/22/20    CNY     20.18
SHANDONG RENCHENG RONGX     7.30     10/18/20    CNY     40.46
SHANDONG RENCHENG RONGX     7.30     10/18/20    CNY     43.40
SHANDONG SANXING GROUP      7.50     10/16/20    CNY     69.90
SHANDONG SNTON GROUP CO     5.18     09/08/21    CNY      8.52
SHANDONG SNTON GROUP CO     6.20     05/30/21    CNY      9.50
SHANDONG TAIFENG HOLDIN     5.80     03/12/20    CNY     20.17
SHANDONG TAIYANG INDUST     5.97     03/02/21    CNY     71.43
SHANDONG TENGJIAN INVES     6.00     06/08/22    CNY     60.00
SHANDONG TENGJIAN INVES     6.00     06/08/22    CNY     60.24
SHANDONG WANTONG PETROL     5.97     11/29/21    CNY     33.95
SHANDONG WEISHANHU MINI     6.15     03/13/20    CNY     39.10
SHANDONG WEISHANHU MINI     6.15     03/13/20    CNY     39.55
SHANGHAI BUND GROUP DEV     6.35     04/24/20    CNY     18.50
SHANGHAI BUND GROUP DEV     6.35     04/24/20    CNY     20.35
SHANGHAI CAOHEJING HI-T     7.24     04/09/21    CNY     40.96
SHANGHAI CAOHEJING HI-T     7.24     04/09/21    CNY     40.97
SHANGHAI CHENJIAZHEN CO     7.18     11/06/19    CNY     25.22
SHANGHAI CHONGMING CONS     6.40     06/13/20    CNY     25.50
SHANGHAI CHONGMING CONS     6.40     06/13/20    CNY     25.59
SHANGHAI FENGXIAN NANQI     6.25     03/05/20    CNY     20.32
SHANGHAI FENGXIAN NANQI     6.25     03/05/20    CNY     20.40
SHANGHAI JIADING ROAD C     6.80     04/23/21    CNY     41.30
SHANGHAI JIADING ROAD C     6.80     04/23/21    CNY     41.32
SHANGHAI JINSHAN URBAN      6.60     12/21/19    CNY     20.16
SHANGHAI LAKE DIANSHAN      5.95     01/30/21    CNY     51.13
SHANGHAI LAKE DIANSHAN      5.95     01/30/21    CNY     51.28
SHANGHAI MINHANG URBAN      6.48     10/23/19    CNY     20.20
SHANGHAI MINHANG URBAN      5.63     04/20/22    CNY     60.79
SHANGHAI MINHANG URBAN      5.63     04/20/22    CNY     61.90
SHANGHAI MUNICIPAL INVE     4.63     07/30/19    CNY     20.02
SHANGHAI NANFANG GROUP      6.70     09/09/19    CNY     25.09
SHANGHAI NANFANG GROUP      6.70     09/09/19    CNY     25.50
SHANGHAI NANHUI URBAN C     6.04     08/20/21    CNY     61.36
SHANGHAI PUTAILAI NEW E     5.30     05/18/20    CNY     66.67
SHANGHAI URBAN CONSTRUC     5.25     11/30/19    CNY     20.15
SHANGHAI YONGYE ENTERPR     6.84     05/21/20    CNY     25.56
SHANGLUO CITY CONSTRUCT     6.75     09/09/19    CNY     25.13
SHANGLUO CITY CONSTRUCT     7.05     09/09/20    CNY     40.75
SHANGLUO CITY CONSTRUCT     7.05     09/09/20    CNY     45.40
SHANGQIU DEVELOPMENT IN     6.60     01/15/20    CNY     20.19
SHANTOU CITY CONSTRUCTI     8.57     03/23/22    CNY     48.25
SHAOGUAN JINYE DEVELOPM     7.30     10/18/19    CNY     20.20
SHAOGUAN JINYE DEVELOPM     7.30     10/18/19    CNY     20.20
SHAOXING CHENGBEI XINCH     6.13     04/30/22    CNY     61.43
SHAOXING CHENGBEI XINCH     6.13     04/30/22    CNY     68.29
SHAOXING CHENGZHONGCUN      6.50     01/24/20    CNY     20.08
SHAOXING CHENGZHONGCUN      6.50     01/24/20    CNY     20.30
SHAOXING CHENGZHONGCUN      6.09     04/27/22    CNY     60.00
SHAOXING CHENGZHONGCUN      6.09     04/27/22    CNY     61.53
SHAOXING CITY INVESTMEN     6.40     11/09/19    CNY     20.10
SHAOXING CITY INVESTMEN     6.40     11/09/19    CNY     20.15
SHAOXING CITY INVESTMEN     5.75     04/17/22    CNY     62.03
SHAOXING CITY INVESTMEN     5.75     04/17/22    CNY     68.00
SHAOXING CITY KEQIAO DI     6.40     08/20/21    CNY     61.30
SHAOXING CITY KEQIAO DI     6.40     08/20/21    CNY     65.26
SHAOXING COUNTY KEYAN C     6.28     03/24/22    CNY     60.00
SHAOXING COUNTY KEYAN C     6.28     03/24/22    CNY     61.67
SHAOXING KEQIAO ECONOMI     7.00     12/10/21    CNY     60.00
SHAOXING KEQIAO ECONOMI     7.00     12/10/21    CNY     61.66
SHAOXING PAOJIANG INDUS     6.90     10/31/19    CNY     20.12
SHAOXING PAOJIANG INDUS     6.90     10/31/19    CNY     20.37
SHAOXING PAOJIANG INDUS     6.98     05/29/21    CNY     41.15
SHAOXING PAOJIANG INDUS     6.98     05/29/21    CNY     43.90
SHAOXING SHANGYU COMMUN     6.70     09/11/19    CNY     20.07
SHAOXING SHANGYU HANGZH     6.95     10/11/20    CNY     40.72
SHAOXING SHANGYU URBAN      6.80     08/07/21    CNY     61.60
SHAOYANG CITY CONSTRUCT     8.58     01/17/21    CNY     41.21
SHAOYANG CITY CONSTRUCT     8.58     01/17/21    CNY     41.41
SHAOYANG DULIANG INVEST     5.50     04/13/23    CNY     74.19
SHAOYANG DULIANG INVEST     5.50     04/13/23    CNY     74.47
SHENGZHOU INVESTMENT HO     7.60     07/17/21    CNY     61.86
SHENGZHOU INVESTMENT HO     7.60     07/17/21    CNY     62.30
SHENMU CITY STATE-OWNED     7.28     06/23/21    CNY     41.00
SHENMU CITY STATE-OWNED     7.28     06/23/21    CNY     41.48
SHENYANG DADONG STATE-O     6.05     03/20/22    CNY     60.00
SHENYANG DADONG STATE-O     6.05     03/20/22    CNY     61.08
SHENYANG ECONOMIC AFFOR     7.17     04/29/22    CNY     59.77
SHENYANG ECONOMIC AFFOR     7.17     04/29/22    CNY     61.26
SHENYANG SUJIATUN DISTR     6.40     06/20/20    CNY     20.00
SHENYANG SUJIATUN DISTR     6.40     06/20/20    CNY     20.30
SHENYANG TIEXI STATE-OW     6.00     01/14/22    CNY     60.79
SHENYANG TIEXI STATE-OW     6.00     01/14/22    CNY     67.50
SHENZHEN METRO GROUP CO     5.40     03/25/23    CNY     61.60
SHENZHEN METRO GROUP CO     5.40     03/25/23    CNY     61.65
SHENZHEN METRO GROUP CO     6.75     01/24/24    CNY     74.40
SHENZHEN METRO GROUP CO     6.75     01/24/24    CNY     74.63
SHIJIAZHUANG HUTUO NEW      5.28     12/24/25    CNY     71.07
SHIJIAZHUANG HUTUO NEW      5.28     12/24/25    CNY     75.00
SHIJIAZHUANG REAL ESTAT     5.65     05/15/20    CNY     20.23
SHIJIAZHUANG REAL ESTAT     5.65     05/15/20    CNY     20.29
SHIJIAZHUANG STATE-OWNE     5.75     04/09/22    CNY     61.35
SHIJIAZHUANG STATE-OWNE     5.75     04/09/22    CNY     67.20
SHISHI CITY CONSTRUCTIO     6.10     05/04/22    CNY     60.00
SHISHI CITY CONSTRUCTIO     6.10     05/04/22    CNY     61.59
SHIYAN CITY INFRASTRUCT     6.88     10/11/20    CNY     40.68
SHIYAN CITY INFRASTRUCT     6.88     10/11/20    CNY     40.68
SHIYAN CITY INFRASTRUCT     6.58     08/20/21    CNY     60.00
SHIYAN CITY INFRASTRUCT     6.58     08/20/21    CNY     61.40
SHOUGUANG CITY CONSTRUC     7.10     10/18/20    CNY     40.55
SHOUGUANG CITY CONSTRUC     7.10     10/18/20    CNY     42.87
SHUANGLIU COUNTY WATER      7.40     02/26/20    CNY     25.39
SHUANGLIU COUNTY WATER      7.40     02/26/20    CNY     25.42
SHUANGLIU COUNTY WATER      6.92     07/30/20    CNY     50.59
SHUYANG JINGYUAN ASSET      6.50     12/03/19    CNY     20.10
SHUYANG JINGYUAN ASSET      6.50     12/03/19    CNY     22.00
SHUYANG JINGYUAN ASSET      7.39     04/14/21    CNY     40.00
SHUYANG JINGYUAN ASSET      7.39     04/14/21    CNY     41.25
SICHUAN CHENGDU ABA DEV     7.18     09/12/20    CNY     40.29
SICHUAN CHENGDU ABA DEV     7.18     09/12/20    CNY     40.31
SICHUAN COAL INDUSTRY G     7.70     01/09/18    CNY     45.00
SICHUAN NAXING INDUSTRI     7.17     09/11/21    CNY     60.71
SICHUAN TIANYIN INDUSTR     6.79     03/25/22    CNY     61.10
SICHUAN TIANYIN INDUSTR     6.79     03/25/22    CNY     68.00
SIHONG COUNTY HONG YUAN     6.15     03/16/22    CNY     60.00
SIHONG COUNTY HONG YUAN     6.15     03/16/22    CNY     61.66
SLENDER WEST LAKE TOURI     6.80     06/25/21    CNY     41.12
SLENDER WEST LAKE TOURI     6.80     06/25/21    CNY     60.00
SONGYUAN URBAN DEVELOPM     5.79     12/04/21    CNY     59.82
SONGYUAN URBAN DEVELOPM     5.79     12/04/21    CNY     61.10
SUINING CITY HEDONG DEV     8.36     04/17/21    CNY     41.20
SUINING CITY HEDONG DEV     8.36     04/17/21    CNY     47.82
SUINING COUNTY RUNQI IN     7.10     06/25/21    CNY     40.79
SUINING COUNTY RUNQI IN     7.10     06/25/21    CNY     60.65
SUINING DEVELOPMENT INV     6.62     04/25/20    CNY     20.20
SUINING DEVELOPMENT INV     6.62     04/25/20    CNY     20.23
SUINING FUYUAN INDUSTRY     6.39     03/17/22    CNY     55.01
SUINING FUYUAN INDUSTRY     6.39     03/17/22    CNY     64.18
SUINING KAIDA INVESTMEN     8.69     04/21/21    CNY     40.00
SUINING KAIDA INVESTMEN     8.69     04/21/21    CNY     40.34
SUIZHOU CITY URBAN CONS     7.18     09/02/21    CNY     61.20
SUIZHOU CITY URBAN CONS     7.18     09/02/21    CNY     61.29
SUIZHOU DEVELOPMENT INV     7.50     08/22/19    CNY     16.61
SUIZHOU DEVELOPMENT INV     7.50     08/22/19    CNY     20.11
SUIZHOU DEVELOPMENT INV     8.50     12/20/20    CNY     41.38
SUIZHOU DEVELOPMENT INV     8.50     12/20/20    CNY     41.83
SUIZHOU DEVELOPMENT INV     8.40     04/30/21    CNY     41.91
SUIZHOU DEVELOPMENT INV     8.40     04/30/21    CNY     42.02
SUNSHINE KAIDI NEW ENER     6.12     08/23/20    CNY     59.01
SUNSHINE KAIDI NEW ENER     6.12     08/23/20    CNY     70.39
SUQIAN CITY CONSTRUCTIO     6.88     10/29/20    CNY     40.71
SUQIAN WATER GROUP CO       6.55     12/04/19    CNY     20.22
SUZHOU CITY CONSTRUCTIO     6.40     04/17/20    CNY     20.28
SUZHOU CITY CONSTRUCTIO     6.40     04/17/20    CNY     24.80
SUZHOU FENHU INVESTMENT     7.49     02/28/21    CNY     41.00
SUZHOU NEW DISTRICT ECO     6.20     07/22/21    CNY     61.37
SUZHOU URBAN CONSTRUCTI     5.79     10/25/19    CNY     20.00
SUZHOU URBAN CONSTRUCTI     5.79     10/25/19    CNY     20.14
SUZHOU WUJIANG COMMUNIC     6.80     10/31/20    CNY     40.97
SUZHOU XIANGCHENG URBAN     6.95     09/03/19    CNY     20.09
SUZHOU XIANGCHENG URBAN     6.95     09/03/19    CNY     24.50
SUZHOU XIANGCHENG URBAN     6.95     03/19/21    CNY     41.30
SUZHOU XIANGCHENG URBAN     6.95     03/19/21    CNY     42.60
TAHOE GROUP CO LTD          7.50     09/08/20    CNY     73.80
TAIAN TAISHAN INVESTMEN     6.76     01/25/20    CNY     20.24
TAIAN TAISHAN INVESTMEN     6.76     01/25/20    CNY     20.41
TAICANG ASSETS MANAGEME     7.00     02/27/21    CNY     41.40
TAICANG HENGTONG INVEST     7.45     10/30/19    CNY     20.25
TAICANG URBAN CONSTRUCT     6.75     01/11/20    CNY     20.30
TAICANG URBAN CONSTRUCT     6.75     01/11/20    CNY     20.31
TAIXING CITY CHENGXING      8.30     12/12/20    CNY     40.94
TAIXING CITY CHENGXING      8.30     12/12/20    CNY     43.14
TAIYUAN ECONOMIC TECHNO     7.43     04/24/21    CNY     40.00
TAIYUAN ECONOMIC TECHNO     7.43     04/24/21    CNY     41.58
TAIYUAN HIGH-SPEED RAIL     6.50     10/30/20    CNY     40.95
TAIYUAN HIGH-SPEED RAIL     5.18     09/06/20    CNY     70.65
TAIYUAN STATE-OWNED INV     7.20     03/19/21    CNY     41.43
TAIYUAN STATE-OWNED INV     7.20     03/19/21    CNY     46.50
TAIZHOU CITY CONSTRUCTI     6.92     10/16/23    CNY     72.70
TAIZHOU CITY CONSTRUCTI     6.92     10/16/23    CNY     74.29
TAIZHOU CITY CONSTRUCTI     6.53     07/11/21    CNY     61.00
TAIZHOU CITY CONSTRUCTI     6.53     07/11/21    CNY     61.46
TAIZHOU CITY JIANGYAN D     8.50     04/23/20    CNY     25.10
TAIZHOU CITY JIANGYAN D     8.50     04/23/20    CNY     25.73
TAIZHOU CITY JIANGYAN U     7.10     09/03/20    CNY     40.40
TAIZHOU CITY JIANGYAN U     7.10     09/03/20    CNY     40.60
TAIZHOU CITY NEW BINJIA     7.60     03/05/21    CNY     40.85
TAIZHOU CITY NEW BINJIA     7.60     03/05/21    CNY     41.10
TAIZHOU JIANGYAN STATE      6.85     12/03/19    CNY     19.80
TAIZHOU JIANGYAN STATE      6.85     12/03/19    CNY     20.14
TAIZHOU JIAOJIANG STATE     7.46     09/13/20    CNY     41.13
TAIZHOU JIAOJIANG STATE     7.46     09/13/20    CNY     41.20
TAIZHOU TRAFFIC INDUSTR     6.15     03/11/20    CNY     20.24
TAIZHOU TRAFFIC INDUSTR     6.15     03/11/20    CNY     20.33
TANGSHAN CAOFEIDIAN DEV     7.50     10/15/20    CNY     40.18
TIANJIN BAOXING INDUSTR     7.10     10/17/20    CNY     40.49
TIANJIN BAOXING INDUSTR     7.10     10/17/20    CNY     42.62
TIANJIN BEICHEN DISTRIC     7.00     04/21/21    CNY     40.67
TIANJIN BEICHEN DISTRIC     7.00     04/21/21    CNY     47.15
TIANJIN BEICHEN TECHNOL     6.87     08/20/21    CNY     60.22
TIANJIN BEICHEN TECHNOL     6.87     08/20/21    CNY     67.00
TIANJIN BINHAI NEW AREA     5.19     03/13/20    CNY     20.13
TIANJIN BINHAI NEW AREA     5.19     03/13/20    CNY     20.25
TIANJIN BINHAI NEW AREA     6.10     11/23/21    CNY     61.90
TIANJIN DONGFANG CAIXIN     5.19     01/29/22    CNY     59.59
TIANJIN DONGFANG CAIXIN     5.19     01/29/22    CNY     60.67
TIANJIN DONGLI CITY INF     6.05     06/19/20    CNY     20.00
TIANJIN ECO-CITY INVEST     6.76     08/14/19    CNY     20.05
TIANJIN ECO-CITY INVEST     6.76     08/14/19    CNY     20.07
TIANJIN ECONOMIC TECHNO     6.20     12/03/19    CNY     20.17
TIANJIN ECONOMIC TECHNO     6.20     12/03/19    CNY     22.00
TIANJIN ECONOMIC TECHNO     6.50     12/03/22    CNY     60.00
TIANJIN ECONOMIC TECHNO     6.50     12/03/22    CNY     61.38
TIANJIN GUANGCHENG INVE     6.97     02/22/23    CNY     56.65
TIANJIN GUANGCHENG INVE     6.97     02/22/23    CNY     58.58
TIANJIN GUANGCHENG INVE     7.45     07/24/21    CNY     59.78
TIANJIN GUANGCHENG INVE     7.45     07/24/21    CNY     69.00
TIANJIN HARBOR CONSTRUC     8.00     04/01/21    CNY     71.96
TIANJIN HARBOR CONSTRUC     8.80     01/24/21    CNY     72.28
TIANJIN HI-TECH INDUSTR     6.65     09/12/21    CNY     60.63
TIANJIN HOPETONE CO LTD     7.50     07/25/21    CNY     69.76
TIANJIN HUANCHENG URBAN     7.20     03/21/21    CNY     40.35
TIANJIN HUANCHENG URBAN     7.20     03/21/21    CNY     41.33
TIANJIN HUANCHENG URBAN     5.75     04/27/22    CNY     60.24
TIANJIN HUANCHENG URBAN     5.75     04/27/22    CNY     61.70
TIANJIN INFRASTRUCTURE      5.70     02/26/23    CNY     60.85
TIANJIN INFRASTRUCTURE      5.70     02/26/23    CNY     61.48
TIANJIN JINNAN CITY CON     6.50     06/03/21    CNY     41.02
TIANJIN LINGANG INVESTM     7.75     02/26/21    CNY     41.00
TIANJIN LINGANG INVESTM     7.75     02/26/21    CNY     41.31
TIANJIN NINGHE DISTRICT     7.00     05/30/21    CNY     40.94
TIANJIN NINGHE DISTRICT     7.00     05/30/21    CNY     47.50
TIANJIN REAL ESTATE TRU     8.59     03/13/21    CNY     37.00
TIANJIN REAL ESTATE TRU     8.59     03/13/21    CNY     40.99
TIANJIN RESIDENTIAL CON     8.00     12/19/20    CNY     40.64
TIANJIN TEDA CONSTRUCTI     6.89     04/27/20    CNY     20.31
TIANJIN WATER INVESTMEN     8.40     01/15/21    CNY     50.51
TIANJIN WATER INVESTMEN     6.60     07/28/21    CNY     57.83
TIANJIN WATER INVESTMEN     6.60     07/28/21    CNY     61.80
TIANJIN WUQING STATE-OW     7.18     03/19/21    CNY     41.00
TIANJIN WUQING STATE-OW     7.18     03/19/21    CNY     41.21
TIANJIN WUQING STATE-OW     8.00     12/17/20    CNY     41.33
TIANJIN WUQING STATE-OW     8.00     12/17/20    CNY     41.80
TIANMEN CITY CONSTRUCTI     8.20     08/28/21    CNY     62.03
TIANMEN CITY CONSTRUCTI     8.20     08/28/21    CNY     65.16
TONGLING CONSTRUCTION I     6.98     08/26/20    CNY     40.54
TONGLING CONSTRUCTION I     6.98     08/26/20    CNY     42.50
TONGLING DAJIANG INVEST     6.50     01/19/22    CNY     61.36
TONGLING DAJIANG INVEST     6.50     01/19/22    CNY     68.00
TONGLU STATE-OWNED ASSE     8.09     04/18/21    CNY     40.98
TONGLU STATE-OWNED ASSE     8.09     04/18/21    CNY     41.48
TONGXIANG CITY CONSTRUC     6.10     05/16/20    CNY     20.30
TONGXIANG CITY CONSTRUC     6.10     05/16/20    CNY     20.37
TULUFAN DISTRICT STATE-     7.20     08/09/19    CNY     25.08
TULUFAN DISTRICT STATE-     7.20     08/09/19    CNY     26.70
TULUFAN DISTRICT STATE-     6.20     03/19/22    CNY     60.97
TULUFAN DISTRICT STATE-     6.20     03/19/22    CNY     62.50
URUMQI CITY CONSTRUCTIO     6.35     07/09/19    CNY     20.01
URUMQI CITY CONSTRUCTIO     6.35     07/09/19    CNY     20.08
URUMQI ECO&TECH DEVELOP     6.40     04/13/22    CNY     60.00
URUMQI ECO&TECH DEVELOP     6.40     04/13/22    CNY     62.10
URUMQI GAOXIN INVESTMEN     6.18     03/05/20    CNY     20.20
URUMQI GAOXIN INVESTMEN     6.18     03/05/20    CNY     20.21
WAFANGDIAN COASTAL PROJ     3.98     02/01/23    CNY     73.08
WANGCHENG ECONOMIC DEVE     6.57     01/22/22    CNY     61.43
WANGCHENG ECONOMIC DEVE     6.57     01/22/22    CNY     68.81
WEIFANG BINHAI INVESTME     6.16     04/16/21    CNY     40.55
WEIFANG DONGXIN CONSTRU     6.88     11/20/19    CNY     20.15
WEIFANG DONGXIN CONSTRU     6.88     11/20/19    CNY     24.30
WEINAN CITY INVESTMENT      6.09     03/11/22    CNY     60.00
WEINAN CITY INVESTMENT      6.09     03/11/22    CNY     61.52
WENLING CITY STATE OWNE     7.18     09/18/19    CNY     20.10
WENLING CITY STATE OWNE     7.18     09/18/19    CNY     21.20
WENZHOU ECONOMIC-TECHNO     6.49     01/15/20    CNY     20.20
WENZHOU ECONOMIC-TECHNO     6.49     01/15/20    CNY     20.51
WENZHOU HIGH-TECH INDUS     7.30     05/30/21    CNY     41.00
WENZHOU HIGH-TECH INDUS     7.30     05/30/21    CNY     41.35
WENZHOU HIGH-TECH INDUS     7.95     03/21/21    CNY     41.68
WENZHOU LUCHENG CITY DE     5.58     11/03/21    CNY     60.89
WENZHOU LUCHENG CITY DE     5.58     11/03/21    CNY     63.00
WINTIME ENERGY CO LTD       7.50     05/19/19    CNY     36.00
WINTIME ENERGY CO LTD       7.50     11/16/20    CNY     43.63
WINTIME ENERGY CO LTD       7.50     04/04/21    CNY     43.63
WINTIME ENERGY CO LTD       7.30     08/06/18    CNY     43.63
WINTIME ENERGY CO LTD       7.00     12/15/18    CNY     43.63
WINTIME ENERGY CO LTD       7.00     07/05/18    CNY     43.63
WINTIME ENERGY CO LTD       7.50     12/06/20    CNY     43.63
WINTIME ENERGY CO LTD       7.00     08/25/18    CNY     43.63
WINTIME ENERGY CO LTD       7.00     04/26/19    CNY     43.63
WINTIME ENERGY CO LTD       6.78     10/23/18    CNY     43.63
WINTIME ENERGY CO LTD       7.00     03/19/19    CNY     43.63
WINTIME ENERGY CO LTD       7.90     03/29/21    CNY     43.63
WINTIME ENERGY CO LTD       7.70     11/15/20    CNY     43.63
WINTIME ENERGY CO LTD       7.90     12/22/20    CNY     43.63
WINTIME ENERGY CO LTD       7.50     07/07/19    CNY     54.28
WUHAI CITY CONSTRUCTION     8.19     04/21/21    CNY     41.81
WUHAN CHEDU CORP LTD        7.18     02/27/21    CNY     41.37
WUHAN CHEDU CORP LTD        7.18     02/27/21    CNY     44.36
WUHAN CITY HUANPI DISTR     6.43     09/17/21    CNY     61.51
WUHAN CITY HUANPI DISTR     6.43     09/17/21    CNY     63.02
WUHAN JIANGXIA URBAN CO     8.99     01/20/21    CNY     42.03
WUHAN METRO GROUP CO LT     5.70     02/04/20    CNY     20.21
WUHAN METRO GROUP CO LT     5.70     02/04/20    CNY     20.21
WUHAN METRO GROUP CO LT     5.25     04/14/22    CNY     61.40
WUHAN URBAN CONSTRUCTIO     5.60     03/08/20    CNY     20.29
WUHU COUNTY CONSTRUCTIO     6.60     12/08/21    CNY     61.49
WUHU COUNTY CONSTRUCTIO     6.60     12/08/21    CNY     66.35
WUHU JINGHU CONSTRUCTIO     6.68     05/16/20    CNY     20.34
WUHU JIUJIANG CONSTRUCT     8.49     04/14/21    CNY     40.00
WUHU JIUJIANG CONSTRUCT     8.49     04/14/21    CNY     41.92
WUHU YIJU INVESTMENT GR     6.45     08/11/21    CNY     61.45
WUHU YIJU INVESTMENT GR     6.45     08/11/21    CNY     61.54
WUJIANG ECONOMIC TECHNO     6.88     12/27/19    CNY     20.21
WUJIANG ECONOMIC TECHNO     6.88     12/27/19    CNY     20.46
WUWEI CITY ECONOMY DEVE     8.20     12/09/20    CNY     40.76
WUWEI CITY ECONOMY DEVE     8.20     04/24/21    CNY     41.09
WUWEI CITY ECONOMY DEVE     8.20     12/09/20    CNY     42.53
WUXI CONSTRUCTION AND D     6.60     09/17/19    CNY     20.09
WUXI CONSTRUCTION AND D     6.60     09/17/19    CNY     20.10
WUXI HUNING METRO HUISH     4.38     06/08/21    CNY     69.94
WUXI HUNING METRO HUISH     4.38     06/08/21    CNY     73.00
WUXI MUNICIPAL DEVELOPM     6.10     10/11/20    CNY     40.73
WUXI MUNICIPAL DEVELOPM     6.10     10/11/20    CNY     40.77
WUXI TAIHU INTERNATIONA     7.60     09/17/19    CNY     20.12
WUXI TAIHU INTERNATIONA     7.60     09/17/19    CNY     21.40
WUXI XIDONG NEW TOWN CO     6.65     01/28/20    CNY     20.00
WUXI XIDONG NEW TOWN CO     6.65     01/28/20    CNY     20.17
WUYANG CONSTRUCTION GRO     7.80     09/11/20    CNY     32.48
WUZHONG URBAN RURAL CON     7.18     10/12/20    CNY     40.38
WUZHONG URBAN RURAL CON     7.18     10/12/20    CNY     40.39
WUZHOU DONGTAI STATE-OW     7.40     09/03/19    CNY     20.09
XIAMEN TORCH GROUP CO L     7.49     04/21/21    CNY     41.27
XIAMEN TORCH GROUP CO L     7.49     04/21/21    CNY     44.88
XIAMEN XINGLIN CONSTRUC     6.60     02/22/20    CNY     20.24
XIAMEN XINGLIN CONSTRUC     6.60     02/22/20    CNY     21.80
XI'AN AEROSPACE CITY IN     6.96     11/08/19    CNY     20.16
XIAN CHANBAHE DEVELOPME     6.89     08/03/19    CNY     20.06
XI'AN INTERNATIONAL HOR     6.20     10/21/21    CNY     59.83
XI'AN INTERNATIONAL HOR     6.20     10/21/21    CNY     61.46
XIAN QUJIANG DAMING PAL     6.39     03/21/20    CNY     50.75
XIANGTAN HI-TECH GROUP      6.90     01/15/20    CNY     20.00
XIANGTAN HI-TECH GROUP      6.90     01/15/20    CNY     20.01
XIANGTAN HI-TECH GROUP      8.16     02/25/21    CNY     40.77
XIANGTAN HI-TECH GROUP      8.16     02/25/21    CNY     48.99
XIANGTAN JIUHUA ECONOMI     7.15     10/15/20    CNY     39.88
XIANGTAN JIUHUA ECONOMI     6.59     01/21/22    CNY     57.85
XIANGTAN LIANGXING SOCI     7.89     04/23/21    CNY     41.43
XIANGTAN WANLOU XINCHEN     6.90     01/14/22    CNY     55.49
XIANGTAN WANLOU XINCHEN     6.90     01/14/22    CNY     58.56
XIANGTAN ZHENXIANG STAT     6.60     08/07/20    CNY     39.97
XIANGTAN ZHENXIANG STAT     6.60     08/07/20    CNY     40.00
XIANGYANG HIGH TECH STA     7.00     05/29/21    CNY     41.07
XIANGYANG HIGH TECH STA     7.00     05/29/21    CNY     43.38
XIANNING HIGH-TECH INVE     5.80     06/05/20    CNY     20.21
XIANNING HIGH-TECH INVE     6.29     02/10/22    CNY     61.19
XIANNING HIGH-TECH INVE     6.29     02/10/22    CNY     65.00
XIANTAO CITY CONSTRUCTI     8.15     02/24/21    CNY     41.80
XIANTAO CITY CONSTRUCTI     8.15     02/24/21    CNY     41.96
XIAOGAN GAOCHUANG INVES     7.43     06/23/21    CNY     41.64
XIAOGAN GAOCHUANG INVES     7.43     06/23/21    CNY     52.72
XIAOGAN GAOCHUANG INVES     6.87     09/22/21    CNY     61.71
XIAOGAN GAOCHUANG INVES     6.87     09/22/21    CNY     66.69
XIAOGAN URBAN CONSTRUCT     6.89     05/29/21    CNY     41.35
XINGHUA CITY ECONOMIC D     5.28     06/13/22    CNY     74.17
XINGHUA CITY ECONOMIC D     5.28     06/13/22    CNY     74.20
XINGHUA URBAN CONSTRUCT     7.36     07/15/20    CNY     50.00
XINGHUA URBAN CONSTRUCT     7.36     07/15/20    CNY     50.29
XINING ECONOMIC DEVELOP     5.90     06/04/20    CNY     20.05
XINJIANG HUIFENG URBAN      6.10     05/23/20    CNY     17.88
XINJIANG HUIFENG URBAN      6.10     05/23/20    CNY     20.15
XINJIANG KAIDI INVESTME     7.80     04/22/21    CNY     41.50
XINJIANG RUNSHENG INVES     7.15     07/10/20    CNY     50.27
XINJIANG RUNSHENG INVES     7.15     07/10/20    CNY     50.43
XINJIANG WUJIAQU CAIJIA     7.50     05/21/21    CNY     40.88
XINJIANG XINYE STATE-OW     6.20     08/15/19    CNY     50.55
XINTAI CITY COORDINATIN     6.35     03/23/22    CNY     60.75
XINTAI CITY COORDINATIN     6.35     03/23/22    CNY     61.31
XINXIANG INVESTMENT GRO     5.85     04/15/20    CNY     20.16
XINYANG HONGCHANG PIPE      6.49     06/20/20    CNY     72.87
XINYANG HUAXIN INVESTME     7.55     04/15/21    CNY     41.32
XINYANG HUAXIN INVESTME     7.55     04/15/21    CNY     46.30
XINYI CITY INVESTMENT &     7.39     10/15/20    CNY     40.50
XINYI CITY INVESTMENT &     7.39     10/15/20    CNY     40.87
XINYI URBAN TRANSPORTAT     6.14     02/06/22    CNY     61.70
XINYI URBAN TRANSPORTAT     6.14     02/06/22    CNY     61.83
XINYU CHENGDONG CONSTRU     8.48     05/27/21    CNY     40.88
XINYU CITY SHANTYTOWN Z     6.42     12/09/20    CNY     70.81
XINYU CITY YUSHUI DISTR     7.70     06/24/22    CNY     61.48
XINYU URBAN CONSTRUCTIO     7.08     12/13/19    CNY     20.20
XINZHENG NEW DISTRICT D     6.52     06/28/19    CNY     24.90
XINZHENG NEW DISTRICT D     6.52     06/28/19    CNY     25.01
XINZHENG NEW DISTRICT D     6.60     01/29/21    CNY     50.00
XINZHENG NEW DISTRICT D     6.40     01/29/21    CNY     50.00
XINZHENG NEW DISTRICT D     6.40     01/29/21    CNY     51.18
XINZHENG NEW DISTRICT D     6.60     01/29/21    CNY     51.36
XINZHOU ASSET MANAGEMEN     8.50     12/18/20    CNY     40.00
XINZHOU ASSET MANAGEMEN     7.90     02/21/21    CNY     41.42
XINZHOU ASSET MANAGEMEN     8.50     12/18/20    CNY     41.46
XINZHOU ASSET MANAGEMEN     7.90     02/21/21    CNY     43.41
XUANCHENG CITY ECONOMY      7.95     09/22/21    CNY     61.37
XUANCHENG CITY ECONOMY      7.95     09/22/21    CNY     66.00
XUANCHENG STATE-OWNED A     7.95     03/27/21    CNY     41.73
XUANCHENG STATE-OWNED A     7.95     03/27/21    CNY     46.00
XUZHOU CITY TONGSHAN DI     6.60     08/08/20    CNY     40.38
XUZHOU CITY TONGSHAN DI     6.60     08/08/20    CNY     40.66
XUZHOU ECONOMIC TECHNOL     7.35     04/21/21    CNY     40.46
XUZHOU ECONOMIC TECHNOL     7.35     04/21/21    CNY     41.50
XUZHOU HI-TECH INDUSTRI     7.86     04/22/21    CNY     41.57
XUZHOU HI-TECH INDUSTRI     7.86     04/22/21    CNY     51.50
XUZHOU TRANSPORTATION H     7.09     05/15/21    CNY     41.00
XUZHOU TRANSPORTATION H     7.09     05/15/21    CNY     41.62
YA'AN DEVELOPMENT INVES     7.00     09/13/20    CNY     37.00
YA'AN DEVELOPMENT INVES     7.00     09/13/20    CNY     41.34
YAAN STATE-OWNED ASSET      7.39     07/04/19    CNY     20.01
YANCHENG CITY DAFENG DI     7.08     12/13/19    CNY     20.00
YANCHENG CITY DAFENG DI     7.08     12/13/19    CNY     20.18
YANCHENG CITY DAFENG DI     8.70     01/24/21    CNY     41.30
YANCHENG CITY DAFENG DI     8.70     01/24/21    CNY     41.76
YANCHENG CITY DAFENG DI     8.50     12/30/20    CNY     41.89
YANCHENG CITY TINGHU DI     7.95     11/15/20    CNY     38.30
YANCHENG CITY TINGHU DI     7.95     11/15/20    CNY     40.79
YANCHENG ORIENTAL INVES     6.99     10/26/19    CNY     20.12
YANCHENG ORIENTAL INVES     6.48     09/15/21    CNY     59.70
YANCHENG ORIENTAL INVES     6.48     09/15/21    CNY     60.59
YANCHENG SOUTH DISTRICT     6.93     10/26/19    CNY     20.15
YANCHENG SOUTH DISTRICT     6.70     07/30/21    CNY     61.00
YANCHENG SOUTH DISTRICT     6.70     07/30/21    CNY     61.65
YANGJIANG HENGCAI CITY      6.85     09/09/20    CNY     40.70
YANGJIANG HENGCAI CITY      6.85     09/09/20    CNY     40.75
YANGJIANG HENGCAI CITY      6.24     04/14/22    CNY     60.00
YANGJIANG HENGCAI CITY      6.24     04/14/22    CNY     61.44
YANGZHOU CHEMICAL INDUS     8.58     01/24/21    CNY     41.10
YANGZHOU CHEMICAL INDUS     8.58     01/24/21    CNY     46.00
YANGZHOU ECONOMIC & TEC     7.40     03/05/21    CNY     70.00
YANGZHOU ECONOMIC & TEC     7.40     03/05/21    CNY     72.44
YANGZHOU HANJIANG URBAN     6.20     03/12/20    CNY     20.18
YANGZHOU HANJIANG URBAN     6.20     03/12/20    CNY     20.44
YANGZHOU HANJIANG URBAN     5.88     06/15/22    CNY     66.63
YANGZHOU JIANGDU YANJIA     7.48     07/29/20    CNY     50.55
YANGZHOU JIANGDU YANJIA     7.48     07/29/20    CNY     50.64
YANGZHOU URBAN CONSTRUC     6.30     07/26/19    CNY     20.02
YANGZHOU URBAN CONSTRUC     6.30     07/26/19    CNY     20.03
YICHANG URBAN CONSTRUCT     6.85     11/08/19    CNY     20.11
YICHANG URBAN CONSTRUCT     6.85     11/08/19    CNY     20.40
YICHUN URBAN CONSTRUCTI     7.09     05/15/21    CNY     41.42
YICHUN URBAN CONSTRUCTI     7.09     05/15/21    CNY     43.47
YICHUN VENTURE CAPITAL      6.70     03/23/22    CNY     60.36
YICHUN VENTURE CAPITAL      6.70     03/23/22    CNY     65.00
YIHUA ENTERPRISE GROUP      6.50     05/02/22    CNY     29.06
YIHUA ENTERPRISE GROUP      5.99     11/26/20    CNY     66.00
YIHUA ENTERPRISE GROUP      3.80     10/20/21    CNY     71.00
YIHUA LIFESTYLE TECHNOL     6.88     07/16/20    CNY     45.00
YILI KAZAKH AUTONOMOUS      7.68     02/28/21    CNY     41.55
YILI KAZAKH AUTONOMOUS      7.68     02/28/21    CNY     41.90
YINCHUAN URBAN CONSTRUC     6.88     05/12/21    CNY     41.32
YINGKOU COASTAL DEVELOP     6.45     01/26/22    CNY     58.71
YINGKOU COASTAL DEVELOP     6.45     01/26/22    CNY     60.29
YINGTAN INVESTMENT CO       7.50     12/12/22    CNY     62.92
YINGTAN INVESTMENT CO       7.50     12/12/22    CNY     62.93
YINGTAN LONGGANG ASSET      6.75     07/31/22    CNY     60.38
YINING CITY STATE OWNED     8.90     01/23/21    CNY     41.81
YINING CITY STATE OWNED     8.90     01/23/21    CNY     49.95
YINYI CO LTD                7.03     06/21/21    CNY     72.00
YIWU URBAN & RURAL NEW      4.25     11/24/21    CNY     74.13
YIXING CITY CONSTRUCTIO     6.16     03/30/22    CNY     60.00
YIXING CITY CONSTRUCTIO     6.16     03/30/22    CNY     61.89
YIXING CITY DEVELOPMENT     6.90     10/10/19    CNY     20.10
YIXING CITY DEVELOPMENT     6.90     10/10/19    CNY     20.18
YIXING TUOYE INDUSTRIAL     7.60     05/28/21    CNY     41.50
YIXING TUOYE INDUSTRIAL     7.60     05/28/21    CNY     43.50
YIYANG CITY CONSTRUCTIO     7.36     08/24/19    CNY     20.07
YIYANG GAOXIN TECHNOLOG     7.00     03/30/22    CNY     60.63
YIYANG GAOXIN TECHNOLOG     7.00     03/30/22    CNY     68.00
YONG ZHOU CITY CONSTRUC     7.30     10/23/20    CNY     40.82
YONG ZHOU CITY CONSTRUC     7.30     10/23/20    CNY     42.80
YONGJIA INVESTMENT GROU     6.50     11/12/21    CNY     60.00
YONGJIA INVESTMENT GROU     6.50     11/12/21    CNY     60.77
YONGXING YINDU CONSTRUC     5.60     03/24/23    CNY     73.27
YUEYANG CITY DONGTING N     6.15     03/20/22    CNY     60.25
YUEYANG CITY DONGTING N     6.15     03/20/22    CNY     60.29
YUEYANG HUILIN INVESTME     5.50     11/03/21    CNY     60.06
YUEYANG HUILIN INVESTME     5.50     11/03/21    CNY     62.00
YUEYANG URBAN CONSTRUCT     6.05     07/12/20    CNY     40.26
YUHUAN CITY COMMUNICATI     7.15     10/12/19    CNY     20.17
YUHUAN CITY COMMUNICATI     7.15     10/12/19    CNY     20.40
YUHUAN CITY COMMUNICATI     5.65     11/03/21    CNY     60.86
YUHUAN CITY COMMUNICATI     6.18     03/20/22    CNY     61.55
YUHUAN CITY COMMUNICATI     6.18     03/20/22    CNY     64.47
YUHUAN CITY COMMUNICATI     5.65     11/03/21    CNY     64.50
YULIN URBAN CONSTRUCTIO     6.88     11/26/19    CNY     20.15
YUNCHENG URBAN CONSTRUC     7.48     10/15/19    CNY     20.16
YUNNAN METROPOLITAN CON     6.77     05/23/21    CNY     41.13
YUYAO CITY CONSTRUCTION     7.09     05/19/21    CNY     41.69
YUYAO CITY CONSTRUCTION     7.09     05/19/21    CNY     48.16
YUYAO ECONOMIC DEVELOPM     6.75     03/04/20    CNY     20.20
YUYAO ECONOMIC DEVELOPM     6.75     03/04/20    CNY     20.40
ZHANGJIAGANG FREE TRADE     7.10     08/23/20    CNY     40.76
ZHANGJIAGANG FREE TRADE     7.10     08/23/20    CNY     46.04
ZHANGJIAGANG JINCHENG I     6.88     04/28/21    CNY     40.90
ZHANGJIAGANG JINCHENG I     6.88     04/28/21    CNY     41.45
ZHANGJIAGANG MUNICIPAL      6.43     11/27/19    CNY     20.17
ZHANGJIAGANG MUNICIPAL      6.43     11/27/19    CNY     20.30
ZHANGJIAJIE ECONOMIC DE     7.40     10/18/19    CNY     20.10
ZHANGJIAJIE ECONOMIC DE     7.80     04/17/21    CNY     41.39
ZHANGYE CITY INVESTMENT     6.92     09/22/21    CNY     58.00
ZHANGYE CITY INVESTMENT     6.92     09/22/21    CNY     60.83
ZHANGZHOU CITY CONSTRUC     6.60     03/26/20    CNY     20.28
ZHANGZHOU ECONOMIC DEVE     6.17     04/27/22    CNY     60.00
ZHANGZHOU ECONOMIC DEVE     6.17     04/27/22    CNY     61.69
ZHANGZHOU JIULONGJIANG      6.48     06/20/21    CNY     61.60
ZHANJIANG INFRASTRUCTUR     6.93     10/21/20    CNY     40.65
ZHANJIANG INFRASTRUCTUR     6.93     10/21/20    CNY     40.85
ZHAOQING GAOYAO DISTRIC     6.68     04/14/22    CNY     60.00
ZHAOQING GAOYAO DISTRIC     6.68     04/14/22    CNY     60.69
ZHAOYUAN STATE-OWNED AS     6.64     12/31/19    CNY     20.14
ZHEJIANG CHANGXING VIA      7.99     03/03/21    CNY     41.14
ZHEJIANG CHANGXING VIA      7.99     03/03/21    CNY     50.00
ZHEJIANG FUCHUN SHANJU      7.70     04/28/21    CNY     41.62
ZHEJIANG FUCHUN SHANJU      7.70     04/28/21    CNY     49.00
ZHEJIANG GUOXING INVEST     6.94     08/01/21    CNY     61.24
ZHEJIANG GUOXING INVEST     6.94     08/01/21    CNY     68.50
ZHEJIANG HUZHOU HUANTAI     6.70     11/28/19    CNY     20.08
ZHEJIANG HUZHOU HUANTAI     6.70     11/28/19    CNY     20.20
ZHEJIANG OUHAI CONSTRUC     6.45     04/23/22    CNY     60.00
ZHEJIANG OUHAI CONSTRUC     6.45     04/23/22    CNY     60.98
ZHEJIANG PROVINCE DEQIN     6.40     02/22/20    CNY     20.12
ZHEJIANG PROVINCE DEQIN     6.40     02/22/20    CNY     20.23
ZHEJIANG PROVINCE XINCH     6.60     04/24/20    CNY     20.29
ZHEJIANG PROVINCE XINCH     6.60     04/24/20    CNY     22.90
ZHEJIANG PROVINCE XINCH     5.88     10/30/21    CNY     60.15
ZHEJIANG PROVINCE XINCH     6.95     12/31/21    CNY     61.00
ZHEJIANG PROVINCE XINCH     6.95     12/31/21    CNY     61.34
ZHEJIANG PROVINCE XINCH     5.88     10/30/21    CNY     64.99
ZHENGZHOU MOUZHONG DEVE     7.48     12/11/21    CNY     61.48
ZHENGZHOU MOUZHONG DEVE     7.48     12/11/21    CNY     66.20
ZHENGZHOU PUBLIC HOUSIN     5.98     07/17/20    CNY     40.34
ZHENGZHOU PUBLIC HOUSIN     5.98     07/17/20    CNY     40.38
ZHENJIANG CITY CONSTRUC     7.90     12/18/20    CNY     40.96
ZHENJIANG CITY CONSTRUC     8.20     01/13/21    CNY     41.42
ZHENJIANG CITY CONSTRUC     8.20     01/13/21    CNY     48.49
ZHENJIANG CITY CONSTRUC     7.90     12/18/20    CNY     52.27
ZHENJIANG CULTURE TOURI     6.60     01/30/20    CNY     20.08
ZHENJIANG DANTU DISTRIC     5.89     11/03/21    CNY     59.60
ZHENJIANG DANTU DISTRIC     5.89     11/03/21    CNY     59.66
ZHENJIANG NEW AREA URBA     8.35     02/26/21    CNY     41.10
ZHENJIANG NEW AREA URBA     8.99     01/16/21    CNY     41.25
ZHONGMINTOU LEASING HOL     7.55     09/21/21    CNY     49.49
ZHONGRONG XINDA GROUP C     7.10     01/22/21    CNY     33.70
ZHONGSHAN TRANSPORTATIO     5.25     11/26/21    CNY     60.00
ZHONGSHAN TRANSPORTATIO     5.25     11/26/21    CNY     61.00
ZHONGTIAN FINANCIAL GRO     7.00     10/15/20    CNY     74.53
ZHOUKOU INVESTMENT GROU     7.49     04/21/21    CNY     41.07
ZHOUSHAN DINGHAI STATE-     7.25     08/31/20    CNY     40.85
ZHOUSHAN DINGHAI STATE-     7.25     08/31/20    CNY     41.65
ZHOUSHAN DINGHAI STATE-     7.13     08/04/21    CNY     61.57
ZHOUSHAN DINGHAI STATE-     7.13     08/04/21    CNY     65.00
ZHOUSHAN ISLANDS NEW DI     6.98     10/22/22    CNY     71.36
ZHOUSHAN ISLANDS NEW DI     6.98     10/22/22    CNY     73.44
ZHOUSHAN PUTUO DISTRICT     7.18     06/20/22    CNY     60.01
ZHOUSHAN PUTUO DISTRICT     7.18     06/20/22    CNY     72.41
ZHUHAI HUIHUA INFRASTRU     7.15     09/17/20    CNY     40.75
ZHUJI CITY YUEDU INVEST     8.20     12/12/20    CNY     41.17
ZHUJI CITY YUEDU INVEST     8.20     12/12/20    CNY     44.50
ZHUJI CITY YUEDU INVEST     6.38     04/07/22    CNY     60.00
ZHUJI CITY YUEDU INVEST     6.38     04/07/22    CNY     61.51
ZHUJI URBAN & RURAL INV     6.92     12/19/19    CNY     20.30
ZHUJI URBAN & RURAL INV     6.92     12/19/19    CNY     20.33
ZHUZHOU CITY CONSTRUCTI     6.95     10/16/20    CNY     40.78
ZHUZHOU CITY CONSTRUCTI     8.36     11/10/21    CNY     62.50
ZHUZHOU GECKOR GROUP CO     7.50     09/10/19    CNY     20.04
ZHUZHOU GECKOR GROUP CO     7.50     09/10/19    CNY     20.10
ZHUZHOU GECKOR GROUP CO     6.38     04/17/22    CNY     60.00
ZHUZHOU GECKOR GROUP CO     6.38     04/17/22    CNY     60.86
ZHUZHOU GECKOR GROUP CO     6.95     08/11/21    CNY     61.18
ZHUZHOU GECKOR GROUP CO     6.95     08/11/21    CNY     61.19
ZHUZHOU REAL ESTATE GRO     6.25     03/25/22    CNY     61.43
ZHUZHOU REAL ESTATE GRO     6.25     03/25/22    CNY     68.53
ZHUZHOU RECYCLING ECONO     4.38     03/24/23    CNY     74.64
ZHUZHOU YUNLONG DEVELOP     6.78     11/19/19    CNY     20.11
ZHUZHOU YUNLONG DEVELOP     6.78     11/19/19    CNY     20.50
ZIYANG WATER INVESTMENT     7.40     10/21/20    CNY     40.89
ZJ HZ QINGSHAN LAKE SCI     7.90     04/23/21    CNY     41.41
ZJ HZ QINGSHAN LAKE SCI     7.90     04/23/21    CNY     44.00
ZUNYI ROAD & BRIDGE CON     6.10     04/27/23    CNY     70.22
ZUNYI ROAD & BRIDGE CON     6.10     04/27/23    CNY     72.96


HONG KONG
---------

DR PENG HOLDING HONGKON     5.05     06/01/20    USD     74.09


INDONESIA
---------

BERAU COAL ENERGY TBK P     7.25     03/13/17    USD     46.00
BERAU COAL ENERGY TBK P     7.25     03/13/17    USD     46.00
DAVOMAS INTERNATIONAL F    11.00     05/09/11    USD      0.06
DAVOMAS INTERNATIONAL F    11.00     05/09/11    USD      0.06
DAVOMAS INTERNATIONAL F    11.00     12/08/14    USD      0.10
DAVOMAS INTERNATIONAL F    11.00     12/08/14    USD      0.10


INDIA
-----


3I INFOTECH LTD             2.50     03/31/25    USD     10.75
ACME FAZILKA POWER PVT      0.01     09/07/46    INR     10.38
AMPSOLAR SOLUTION PVT L     0.01     11/03/37    INR     20.50
AMPSOLAR SOLUTION PVT L     0.01     10/27/37    INR     20.53
APG HABITAT PVT LTD         1.00     09/09/28    INR     50.55
APG INTELLI HOMES PVT L     1.25     02/04/35    INR     34.14
APG INTELLI HOMES PVT L     1.25     02/04/35    INR     36.95
AUTOMOTIVE EXCHANGE PVT     4.00     06/01/30    INR     57.12
AUTOMOTIVE EXCHANGE PVT     4.00     10/11/30    INR     57.17
BENGAL AEROTROPOLIS PRO     5.00     12/01/29    INR     67.46
BENGAL AEROTROPOLIS PRO     5.00     12/01/28    INR     69.23
BENGAL AEROTROPOLIS PRO     5.00     12/01/27    INR     71.30
BENGAL AEROTROPOLIS PRO     5.00     12/01/26    INR     73.60
BLUE DART EXPRESS LTD       9.50     11/20/19    INR     10.04
BOTHE WINDFARM DEVELOPM    10.00     11/28/32    INR     69.52
BRIGHT BUILDTECH PVT LT     1.00     09/01/23    INR     70.01
BRIGHT BUILDTECH PVT LT     1.00     09/01/23    INR     70.01
CORE EDUCATION & TECHNO     7.00     05/07/49    USD      0.24
CUMULUS TRADING CO PVT      0.01     05/21/32    INR     31.29
CUMULUS TRADING CO PVT      0.01     12/29/29    INR     38.36
CUMULUS TRADING CO PVT      0.01     01/23/30    INR     52.27
DAYAKARA SOLAR POWER PV     0.10     04/05/26    INR     54.20
DEWAN HOUSING FINANCE C     8.50     04/18/23    INR     35.00
EDELWEISS ASSET RECONST     2.00     01/15/29    INR     53.68
EDELWEISS ASSET RECONST     2.00     10/07/28    INR     54.43
EDELWEISS ASSET RECONST     2.00     11/20/27    INR     57.04
EDELWEISS ASSET RECONST     2.00     03/28/27    INR     58.76
GREEN URJA PVT LTD          0.01     02/14/30    INR     39.07
GTL INFRASTRUCTURE LTD      6.73     10/26/22    USD      4.59
HIMGIRI ENERGY VENTURES     1.00     09/30/22    INR     73.90
HINDUSTAN CONSTRUCTION      0.01     01/05/27    INR     48.63
HITODI INFRASTRUCTURE L     0.01     06/30/27    INR     44.98
JAIPRAKASH ASSOCIATES L     5.75     09/08/17    USD     55.13
JAIPRAKASH POWER VENTUR     7.00     05/15/17    USD      5.00
JASPER AUTO SERVICES PV     0.01     02/11/23    INR     72.27
JCT LTD                     2.50     04/08/11    USD     25.75
JSM CORP PVT LTD            0.01     08/31/36    INR     22.17
JTPM ATSALI LTD             0.01     08/29/48    INR      6.82
KANAKADURGA FINANCE LTD     0.01     04/15/36    INR     20.85
KVK ENERGY & INFRASTRUC     0.01     01/25/24    INR     65.26
LIC HOUSING FINANCE LTD     7.81     04/27/20    INR      6.08
MARIS POWER SUPPLY CO P     2.00     04/18/28    INR     58.15
MYAASHIANA MANAGEMENT S     0.25     02/02/23    INR     72.53
MYTRAH AADHYA POWER PVT     0.01     07/05/35    INR     24.87
MYTRAH ADVAITH POWER PV     0.01     07/13/36    INR     22.97
MYTRAH AKSHAYA ENERGY P     0.01     07/13/36    INR     22.97
ORIGAMI CELLULO PVT LTD     0.01     11/14/36    INR     21.99
PRAKASH INDUSTRIES LTD      5.25     04/30/15    USD     22.63
PUNJAB INFRASTRUCTURE D     0.40     10/15/33    INR     37.80
PUNJAB INFRASTRUCTURE D     0.40     10/15/32    INR     40.29
PUNJAB INFRASTRUCTURE D     0.40     10/15/31    INR     43.02
PUNJAB INFRASTRUCTURE D     0.40     10/15/30    INR     45.96
PUNJAB INFRASTRUCTURE D     0.40     10/15/29    INR     49.16
PUNJAB INFRASTRUCTURE D     0.40     10/15/28    INR     52.63
PUNJAB INFRASTRUCTURE D     0.40     10/15/27    INR     56.41
PUNJAB INFRASTRUCTURE D     0.40     10/15/26    INR     60.51
PUNJAB INFRASTRUCTURE D     0.40     10/15/25    INR     64.95
PUNJAB INFRASTRUCTURE D     0.40     10/15/24    INR     69.74
PYRAMID SAIMIRA THEATRE     1.75     07/04/12    USD      1.00
R L FINE CHEM PVT LTD       0.10     08/19/36    INR     22.65
REDKITE CAPITAL PVT LTD     2.50     03/30/29    INR     57.80
REDKITE CAPITAL PVT LTD     2.50     01/15/28    INR     61.24
REI AGRO LTD                5.50     11/13/14    USD      0.01
REI AGRO LTD                5.50     11/13/14    USD      0.01
RELIANCE COMMUNICATIONS     6.50     11/06/20    USD     24.80
SURBHI INVESTMENTS & TR     2.50     10/21/28    INR     59.22
SVOGL OIL GAS & ENERGY      5.00     08/17/15    USD      0.82
TN URJA PVT LTD             0.10     02/22/36    INR     25.36
VIDEOCON INDUSTRIES LTD     2.80     12/31/20    USD     33.38
WATSUN INFRABUILD PVT L     4.00     10/16/37    INR     51.87
WS T&D LTD                  0.10     03/24/29    INR     42.57


JAPAN
-----

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


KOREA
-----

DB METAL CO LTD             2.00     04/03/20    KRW     10.11
HEUNGKUK FIRE & MARINE      5.70     12/29/46    KRW     50.16
KIBO ABS SPECIALTY CO L     5.00     02/26/21    KRW     66.03
KIBO ABS SPECIALTY CO L     5.00     08/28/21    KRW     69.54
KIBO ABS SPECIALTY CO L     5.00     02/28/20    KRW     69.83
KIBO ABS SPECIALTY CO L     5.00     12/25/19    KRW     73.84
KIBO ABS SPECIALTY CO L     5.00     08/29/19    KRW     74.84
SAMPYO CEMENT CO LTD        8.10     04/12/15    KRW     70.00
SAMPYO CEMENT CO LTD        8.30     09/10/14    KRW     70.00
SAMPYO CEMENT CO LTD        8.10     06/26/15    KRW     70.00
SAMPYO CEMENT CO LTD        8.30     04/20/14    KRW     70.00
SAMPYO CEMENT CO LTD        7.50     07/20/14    KRW     70.00
SINBO SECURITIZATION SP     5.00     12/21/20    KRW     65.51
SINBO SECURITIZATION SP     5.00     03/21/21    KRW     65.74
SINBO SECURITIZATION SP     5.00     08/31/21    KRW     67.02
SINBO SECURITIZATION SP     5.00     07/26/21    KRW     67.03
SINBO SECURITIZATION SP     5.00     02/23/22    KRW     68.16
SINBO SECURITIZATION SP     5.00     01/26/22    KRW     68.44
SINBO SECURITIZATION SP     5.00     08/31/22    KRW     68.91
SINBO SECURITIZATION SP     5.00     07/26/22    KRW     69.08
SINBO SECURITIZATION SP     5.00     06/29/21    KRW     69.77
SINBO SECURITIZATION SP     5.00     06/29/22    KRW     70.13
SINBO SECURITIZATION SP     5.00     09/27/21    KRW     72.20
SINBO SECURITIZATION SP     5.00     08/25/21    KRW     72.46
SINBO SECURITIZATION SP     5.00     06/23/20    KRW     72.51
SINBO SECURITIZATION SP     5.00     07/27/21    KRW     72.67
SINBO SECURITIZATION SP     5.00     03/15/20    KRW     73.24
SINBO SECURITIZATION SP     5.00     02/28/21    KRW     73.85
SINBO SECURITIZATION SP     5.00     01/27/21    KRW     74.10
SINBO SECURITIZATION SP     5.00     12/22/20    KRW     74.38
SINBO SECURITIZATION SP     5.00     06/24/19    KRW     74.81
SINBO SECURITIZATION SP     5.00     09/23/20    KRW     75.08


MALAYSIA
--------

AEON CREDIT SERVICE M B     3.50     09/15/20    MYR      1.50
ASIAN PAC HOLDINGS BHD      3.00     05/25/22    MYR      0.68
BERJAYA CORP BHD            5.00     04/22/22    MYR      0.32
ELK-DESA RESOURCES BHD      3.25     04/14/22    MYR      1.23
HIAP TECK VENTURE BHD       5.00     06/23/21    MYR      0.27
HUME INDUSTRIES BHD         5.00     05/29/24    MYR      1.62
I-BHD                       3.00     10/09/19    MYR      0.28
MALAYAN FLOUR MILLS BHD     5.00     01/24/24    MYR      1.39
PERODUA GLOBAL MANUFACT     0.50     12/17/25    MYR     74.69
PMB TECHNOLOGY BHD          3.00     07/12/23    MYR      3.07
REDTONE INTERNATIONAL B     2.75     03/04/20    MYR      0.12
SENAI-DESARU EXPRESSWAY     1.35     06/30/31    MYR     65.23
SENAI-DESARU EXPRESSWAY     1.35     12/31/30    MYR     66.26
SENAI-DESARU EXPRESSWAY     1.35     06/28/30    MYR     67.31
SENAI-DESARU EXPRESSWAY     1.35     12/31/29    MYR     68.30
SENAI-DESARU EXPRESSWAY     1.35     12/29/28    MYR     70.57
SENAI-DESARU EXPRESSWAY     1.35     06/30/28    MYR     71.83
SENAI-DESARU EXPRESSWAY     1.35     12/31/27    MYR     73.06
SOUTHERN STEEL BHD          5.00     01/24/20    MYR      0.80
THONG GUAN INDUSTRIES B     5.00     10/10/19    MYR      2.45
VIZIONE HOLDINGS BHD        3.00     08/08/21    MYR      0.07
YTL LAND & DEVELOPMENT      6.00     10/31/21    MYR      0.31


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

PRECINCT PROPERTIES NEW     4.80     09/27/21    NZD      1.17


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

BAYAN TELECOMMUNICATION    15.00     07/15/06    USD     22.75


SINGAPORE
---------

ASL MARINE HOLDINGS LTD     3.00     03/28/25    SGD     51.38
ASL MARINE HOLDINGS LTD     3.00     10/01/26    SGD     51.38
BAKRIE TELECOM PTE LTD     11.50     05/07/15    USD      0.09
BAKRIE TELECOM PTE LTD     11.50     05/07/15    USD      0.09
BERAU CAPITAL RESOURCES    12.50     07/08/15    USD     46.01
BERAU CAPITAL RESOURCES    12.50     07/08/15    USD     46.01
BLD INVESTMENTS PTE LTD     8.63     03/23/15    USD      4.88
BLUE OCEAN RESOURCES PT     4.00     12/31/21    USD     34.65
BLUE OCEAN RESOURCES PT     4.00     12/31/21    USD     34.65
BLUE OCEAN RESOURCES PT     4.00     12/31/21    USD     34.65
ENERCOAL RESOURCES PTE      9.25     08/05/14    USD     44.50
EZION HOLDINGS LTD          0.25     11/20/27    SGD     67.86
EZRA HOLDINGS LTD           4.88     04/24/18    SGD      5.00
HYFLUX LTD                  4.20     08/29/19    SGD     39.88
HYFLUX LTD                  4.25     09/07/18    SGD     39.88
HYFLUX LTD                  4.60     09/23/19    SGD     39.88
INDO INFRASTRUCTURE GRO     2.00     07/30/10    USD      1.00
INNOVATE CAPITAL PTE LT     6.00     12/11/24    USD     57.00
ITNL OFFSHORE PTE LTD       7.50     01/18/21    CNY     36.15
MICLYN EXPRESS OFFSHORE     8.75     11/25/18    USD     30.00
NEPTUNE ORIENT LINES LT     4.40     06/22/21    SGD     73.91
ORO NEGRO DRILLING PTE      7.50     01/24/19    USD     46.00
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
SWIBER CAPITAL PTE LTD      6.50     08/02/18    SGD      4.20
SWIBER CAPITAL PTE LTD      6.25     10/30/17    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


THAILAND
--------

G STEEL PCL                 3.00     10/04/15    USD      0.55
MDX PCL                     4.75     09/17/03    USD     30.00


VIETNAM
-------

DEBT AND ASSET TRADING      1.00     10/10/25    USD     74.01
DEBT AND ASSET TRADING      1.00     10/10/25    USD     74.56


                           *********


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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