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       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, September 24, 2019, Vol. 22, No. 191

                           Headlines



A U S T R A L I A

DUCK IN: First Creditors' Meeting Set for Oct. 1
HORIZON STATE: Second Creditors' Meeting Set for Oct. 3
MERLIN DIAMONDS: Federal Court Appoints Provisional Liquidator
NORTHERN OIL: First Creditors' Meeting Set for Oct. 2
OM GVG Group: Second Creditors' Meeting Set for Oct. 4

S.M HAULAGE: First Creditors' Meeting Set for Oct. 2
SPIEL GROUP: Second Creditors' Meeting Set for Oct. 3
TEMPO HOLIDAYS: First Creditors' Meeting Set for Oct. 3


C H I N A

CHINA SCE: S&P Affirms 'B+' LT ICR on Deleveraging Visibility
JIANGSU ZHONGNAN: S&P Alters Outlook to Positive & Affirms 'B' ICR
NIO INC: Expects to Report Another Loss for Second Quarter


I N D I A

A.G. MOTOR: CRISIL Maintains 'D' Rating in Not Cooperating
ADROIT CORPORATE: CRISIL Maintains D Rating in Not Cooperating
AMARPARKASH RICE: CRISIL Maintains D Rating in Not Cooperating
BALA BALAJI: CRISIL Maintains 'D' Rating in Not Cooperating
BLUEBERRY AGRO: CRISIL Maintains 'B' Rating in Not Cooperating

BPL TECHNO: CRISIL Maintains 'D' Rating in Not Cooperating
CELARA DIAGNOSTICS: CRISIL Assigns B+ Rating to INR12cr Loan
DEWA PROJECTS: Insolvency Resolution Process Case Summary
DEWAN HOUSING: Use of Insolvency Code Will Expedite Resolution
DMR HOSPITALS: CRISIL Maintains 'D' Rating in Not Cooperating

FLYWHEEL LOGISTICS: Insolvency Resolution Process Case Summary
FORTPOINT AUTOMOTIVE: CRISIL Keeps 'B-' Rating in Not Cooperating
GAJANAN GANGAMAI: CRISIL Maintains D Rating in Not Cooperating
GARUDA INFRATECH: CRISIL Maintains 'C' Rating in Not Cooperating
GARV UDYOG: CRISIL Maintains 'D' Rating in Not Cooperating

GLOW MAC: CARE Cuts INR10cr LT Loan Rating to 'D', Not Cooperating
H M STEELS: CRISIL Maintains 'D' Rating in Not Cooperating
IL&FS: Faces INR10 Lakh SEBI Fine for Disclosure Lapses
INDEPENDENT TV: CARE Keeps 'D' Rating in Not Cooperating
INNOVATE VENTURES: Insolvency Resolution Process Case Summary

JOSAN FOODS: CRISIL Maintains 'D' Rating in Not Cooperating
KANDAGIRI SPINNING: CARE Reaffirms D Rating on INR30.85cr Loan
MAGIC INFO: Insolvency Resolution Process Case Summary
MAHESWARI FERTILIZERS: CRISIL Keeps 'B' Rating in Not Cooperating
METRO PLYWOODS: CRISIL Maintains B+ Rating in Not Cooperating

MICROTEX FASHION: CARE Keeps 'D' Rating in Not Cooperating
MILAN INFRASTRUCTURES: CRISIL Keeps D Rating in Not Cooperating
MK BUILDERS: CRISIL Maintains 'B' Rating in Not Cooperating
MULTIWAL DUPLEX: Insolvency Resolution Process Case Summary
NIJAGUNA LAND: CRISIL Keeps 'D' Rating in Not Cooperating

NTL ELECTRONICS: Insolvency Resolution Process Case Summary
PALLAVI CONSTRUCTIONS: CRISIL Keeps C Rating in Not Cooperating
PUNE TUBES: CRISIL Maintains 'D' Rating in Not Cooperating
RAJAVE TEXTILES: CRISIL Maintains D Rating in Not Cooperating
RELIANCE CAPITAL: $5 Billion Debt at Risk After D Rating

RELIANCE CAPITAL: CARE Lowers Rating on INR15,000cr Loan to D
SATISH AGRO: CARE Keeps 'D' Rating in Not Cooperating
SHEETAL AGRO: CARE Lowers Rating on INR5.0cr LT Loan to 'D'
SMT. SHAKUNTLA: CARE Lowers Rating on INR148.62cr LT Loan to D
SRI VENKATESWARA: CRISIL Maintains D Rating in Not Cooperating

SUMAN AGRITECH: Insolvency Resolution Process Case Summary


M A L A Y S I A

LONDON BISCUITS: Receives Writ of Summons from 3 Lenders


S I N G A P O R E

HYFLUX LTD: SIAS Seeks Update on Restructuring
LIBRA GROUP: Faces Another SGD1.72MM in Claims, Iras Action


X X X X X X X X

[*] BOND PRICING: For the Week Sept. 16, 2019 to Sept. 20, 2019

                           - - - - -


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

DUCK IN: First Creditors' Meeting Set for Oct. 1
------------------------------------------------
A first meeting of the creditors in the proceedings of Duck In Duck
Out Pty Ltd will be held on Oct. 1, 2019, at 10:00 a.m. at the
offices of Newpoint Advisory Pty Ltd, Suite 14.03, MLC Centre 19
Martin Place, in Sydney, NSW.

Costa Nicodemoou of Newpoint Advisory was appointed as
administrator of Duck In Duck Out on Sept. 20, 2019.

HORIZON STATE: Second Creditors' Meeting Set for Oct. 3
-------------------------------------------------------
A second meeting of creditors in the proceedings of Horizon State
Pty Ltd has been set for Oct. 3, 2019, at 11:30 a.m. at the offices
of TPH Advisory, Lower Level, at 133 Macquarie Street, in Sydney,
NSW.

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

Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by Oct. 2, 2019, at 4:00 p.m.

Tim Heesh and Amanda Lott of TPH Advisory were appointed as
administrators of Horizon State on Aug. 31, 2019.

MERLIN DIAMONDS: Federal Court Appoints Provisional Liquidator
--------------------------------------------------------------
On Sept. 20, 2019, and following a successful application by
Australian Securities and Investments Commission, the Federal Court
of Australia ordered the appointment of provisional liquidators to
ASX-listed Merlin Diamonds Limited.

The application arose from ASIC's concerns, which included:

     * Merlin advancing, since 2012, substantial funds to Axis
       Consultants Pty Ltd, a related management services company,

       without shareholder approval and that AUD13,752,124 was
       owed by Axis to Merlin as at June 30, 2018;

     * the advances to Axis having been used to fund private
       companies associated with Mr Joseph Gutnick, a current
       and former director of Merlin and Axis respectively,
       and provided no discernible benefit to Merlin;

     * the advances to Axis appearing to be unreasonable,
       uncommercial and non-arm's length;

     * no security for the advances to Axis having been provided
       by it or any third party;

     * the advances to Axis having been fully impaired by Merlin
       in each financial year;

     * Merlin's auditors being unable to obtain sufficient
       appropriate evidence to be satisfied that Axis is likely to

       be able to repay the advances;

     * Merlin receiving, in October 2016, AUD900,000 from Chabad
       Properties Pty Ltd for convertible notes and options issued

       by Merlin to Chabad—however, the ultimate source of the
       money paid by Chabad (of which Mr Gutnick is a former
       director) was, in fact, Merlin.

     * Merlin's audited accounts for the half-year ended
       Dec. 31, 2018 (due March 18, 2019) having not been
       lodged with ASIC;

     * the financial position of Merlin Diamonds as at June 30,
       2018 raising questions over the company's solvency; and

     * Merlin having no company secretary since Jan. 8, 2019.

Justice O'Bryan appointed Mr. Salvatore Algeri and Mr. Timothy
Norman, of Deloitte Financial Advisory Pty Ltd, as joint and
several provisional liquidators to Merlin. Justice O'Bryan also
ordered, among other things, that the provisional liquidators
shall, within 42 days, provide to the Court a report that
includes:

     * the identification of Merlin's assets and liabilities;

     * an opinion as to the solvency of Merlin, the value of
       its assets and whether it has kept proper financial
       records;

     * an opinion as to whether Merlin has contravened any
       provision of the Corporations Act and whether there
       have been any suspected contraventions by Merlin's
       current or former directors or officers;

     * the likely return to creditors; and

     * any other information necessary to enable the financial
       position of Merlin to be assessed.

The matter will be listed by the Court for a further hearing on a
date to be fixed.

ASIC's investigation into the affairs of Merlin is continuing.

Merlin, a Melbourne-based company listed on ASX, engages in the
exploration and development of diamond mining projects. Its
flagship project is the Merlin diamond mine in the Northern
Territory.

Merlin's shares have been suspended from trading since Oct. 1,
2018. Merlin has 3.3 billion ordinary shares issued, and last
traded at AUD0.006 per share – resulting in a market
capitalisation of approximately AUD20 million.

A provisional liquidator is appointed by the court to preserve a
company's assets until a wind-up application is decided and to
attend to any other matters as ordered. ASIC currently has before
the Federal Court an application to wind up Merlin which will be
determined at a later time.

NORTHERN OIL: First Creditors' Meeting Set for Oct. 2
-----------------------------------------------------
A first meeting of the creditors in the proceedings of:

  -- Northern Oil & Gas Australia Pty Ltd
  -- Timor Sea Oil & Gas Australia Pty Ltd
  -- TOGA Services Pty Ltd   

will be held on Oct. 2, 2019, at 11:00 a.m. at the offices of KPMG,
Level 8, at 235 St Georges Terrace, in Perth, WA.

Robyn Louise Duggan of KPMG was appointed as administrator of
Northern Oil on Sept. 20, 2019.

OM GVG Group: Second Creditors' Meeting Set for Oct. 4
------------------------------------------------------
A second meeting of creditors in the proceedings of OM GVG Group
Pty Ltd has been set for Oct. 4, 2019, at 1:00 p.m. at the offices
of SM Solvency Accountants, at 10/144 Edward 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 Oct. 3, 2019, at 4:30 p.m.

Brendan Nixon of SM Solvency Accountants was appointed as
administrator of OM GVG Group on Aug. 30, 2019.

S.M HAULAGE: First Creditors' Meeting Set for Oct. 2
----------------------------------------------------
A first meeting of the creditors in the proceedings of S.M Haulage
Pty Ltd will be held on Oct. 2, 2019, at 10:30 a.m. at the offices
of McGrathNicol Perth, Level 17, at 37 St Georges Terrace, in
Perth, WA.

Robert Michael Kirman and Robert Conry Brauer of McGrathNicol were
appointed as administrators of S.M Haulage on Sept. 19, 2019.

SPIEL GROUP: Second Creditors' Meeting Set for Oct. 3
-----------------------------------------------------
A second meeting of creditors in the proceedings of Spiel Group Pty
Ltd has been set for Oct. 3, 2019, at 11:00 a.m. at the offices of
O Brien Palmer, Level 9, at 66 Clarence Street, in Sydney, NSW.

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

Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by Oct. 2, 2019, at 4:00 p.m.

Liam Bailey & Daniel Frisken of O'Brien Palmer were appointed as
administrators of Spiel Group on Sept. 2, 2019.

TEMPO HOLIDAYS: First Creditors' Meeting Set for Oct. 3
-------------------------------------------------------
A first meeting of the creditors in the proceedings of Tempo
Holidays Pty Ltd will be held on Oct. 3, 2019, at 10:30 a.m. at the
offices of Chartered Accountants Australia & New Zealand, Level 18,
at 600 Bourke Street, in Melbourne, Victoria.

Laurence Fitzgerald and Michael Humphris of William Buck were
appointed as administrators of Tempo Holidays on Sept. 20, 2019.



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

CHINA SCE: S&P Affirms 'B+' LT ICR on Deleveraging Visibility
-------------------------------------------------------------
On Sept. 20, 2019, S&P Global Ratings affirmed its 'B+' long-term
issuer credit rating on China SCE Group Holdings Ltd.'s (CSCE). At
the same time, S&P affirmed its 'B' long-term issue rating on the
company's outstanding senior unsecured notes.

S&P said, "We affirmed the ratings because we believe China SCE
Group Holdings Ltd. (CSCE) will likely improve its leverage
considerably over the next 12-18 months. This is backed by its
strong contracted sales growth, a more controlled debt growth, and
contribution from joint ventures. We estimate the company's
leverage ratio--as measured by consolidated debt-to-EBITDA
ratio--will improve to 7.0x-7.5x by end-2019 and 6.0x-6.5x by
end-2020. Its rolling 12-month level was 7.9x as at mid-2019.

"The affirmation also reflects our view that CSCE will continue to
grow its operating scale with contracted sales reaching Chinese
renminbi (RMB) 70 billion and RMB100 billion in the next two years.
In our view, the company has a good record of maintaining
operational stability and achieving satisfactory sales growth even
under less favorable market conditions and tighter credit
conditions. Its strategy of building up its presence in second-tier
cities--especially in the Yangtze River Delta (YRD)--has helped the
company achieve its growth targets, given that these cities have
been more resilient in the recent slowdown. At the same time, the
company's previous expansion to higher-tier cities such as Beijing
and Shanghai also indicates strong execution capacities to counter
intense competition.

"We expect CSCE to maintain stable gross margin of 26%-28% in
2019-2020--which is reasonable, considering price restrictions in
the company's main markets and increasing contribution from
lower-tier cities. Its gross margin is still relatively healthy
thanks to lower land costs, despite deteriorating from a high of
34% in 2017-2018. In our view, the company's high gross margin at
about 34% in 2017-2018 was distorted by a few projects with high
gross margins from top-tier cities.

"We believe CSCE will continue to follow a debt-funded approach for
further expansion, but with more controlled debt growth compared
with previous years. This is because the company's land bank has
reached about 28 million square meters, which can support its
development needs for the next two to three years. We expect the
company to adopt a more disciplined land banking strategy, spending
about 50% of its contracted sales on a consolidated basis to buy
land in the second half of 2019 and 2020 compared with nearly 90%
during the first half of 2019 and 60% in 2018."

An acceleration in CSCE's revenue recognition of 25%-35% in 2019
and 2020 should help the company deleverage, considering strong
sold but unrecognized contracted sales of about RMB24 billion as of
June 30, 2019. Given the company's average post-sales recognition
cycle of 18-24 months, its revenue recognition is likely to pick up
over the next one to two years.

The ramp up of joint venture (JV) projects would weaken CSCE's
leverage in end-2019 due to a significant amount of external
guarantees and negative EBITDA contribution. S&P said, "But as
these JV projects start to produce profit, we believe they would be
one of the key drivers for deleveraging in 2020-2021. We expect
CSCE's JV projects to contribute RMB1.0 billion-RMB1.5 billion in
EBITDA compared to the proportionate share of debt of RMB9
bilion-RMB11 billion in the coming two years, indicating an
improvement in the see-through leverage to 5.5x-6.0x in 2020."

S&P said, "The stable outlook reflects our view that CSCE's revenue
recognition will materially increase to improve its heightened
leverage in the next 12 months. We also expect the company to
increase its contracted sales and maintain a stable gross margin of
26%-28% in 2019-2020. At the same time, we anticipate its debt
growth to slow compared with previous years given a more
disciplined land banking pace and tighter financing conditions for
developers.

"We could lower the rating if CSCE's debt-funded expansion is more
aggressive than we expect or if revenue and profitability
substantially decline because of price caps in the company's main
markets."

This could happen if:

-- The company's debt-to-EBITDA ratio (on a consolidated or
proportionate consolidated basis) exceeds S&P's expectation of
7.2x-7.5x as of end-2019; or

-- Its debt-to-EBITDA ratio does not improve to close to 6.0x on a
consolidated and below 6.0x on a proportionate consolidated basis
as of end-2020.

S&P said, "We expect the rating upside to be limited for the next
12 months. However, we may raise the rating if CSCE improves its
debt-to-EBITDA ratio (both on a consolidated and proportionate
consolidated basis) sustainably below 5x." This could happen if the
company controls its debt level while achieving
better-than-expected sales and revenue.

CSCE mainly develops residential properties in China. Starting in
Fujian province, the company has expanded into other cities such as
Shanghai, Beijing, and Tianjin. It has also relocated its
headquarters to Shanghai. CSCE's properties include residential
high-rise and low-rise apartments and villas, as well as other
commercial projects.

For the first six months of 2019, the company had contracted sales
of about RMB37.0 billion, representing a 78% annual growth compared
with the same period last year. The company continues to focus on
tier-2 cities and further expanded to strong tier-3 cities, with
nearly 66% of salable resources in tier-2 cities and 22% in
lower-tier cities as of June 30, 2019.

JIANGSU ZHONGNAN: S&P Alters Outlook to Positive & Affirms 'B' ICR
------------------------------------------------------------------
S&P Global Ratings revised its rating outlook on Jiangsu Zhongnan
Construction Group Co. Ltd.'s (Zhongnan) to positive from stable.
S&P affirmed its 'B' long-term issuer credit rating on the company
and its 'B-' long-term issue rating on its senior unsecured notes.

S&P said, "We revised the outlook because we believe Zhongnan's
operating scale now compares well with peers in the same rating
category. This follows the company's considerable expansion over
the past 18 months. We also expect Zhongnan's leverage to improve
rapidly over the next 12-24 months, supported by satisfactory sales
execution and more controlled spending.

"We believe Zhongnan's market position is improving on the back of
its solid sales execution and deep knowledge of its home market in
Yangtze River Delta (YRD). Its total contracted sales have grown
rapidly over the past few years. The company is also on track to
enhance its presence in higher-tier cities and reduce exposure to
volatile lower-tier cities.

"We anticipate Zhongnan's contracted sales to achieve another year
of strong growth and reach about Chinese renminbi (RMB) 180 billion
(about 67% attributable) in 2019. This will be on the back of
saleable resources that we estimate at about RMB140 billion as of
June 30, 2019. In the first eight months of 2019, Zhongnan's sales
grew by about 20% to RMB111 billion, with a cash collection rate of
about 80%. In our view, the company's sales performance is
satisfactory, considering the credit tightening in China and
slowing market conditions. It had sales of RMB143 billion in the
whole of 2018 and RMB96 billion in 2017."

Zhongnan's geographic diversity has been moderately improving over
the past two years. The company now has a presence in more than 100
cities in China, with a focus around the YRD.

S&P said, "At the same time, we see good progress in Zhongnan
reducing its reliance on lower-tier cities. Since the beginning of
2018, 50%-60% of its cash investments in lands have been in
tier-two cities such as Hangzhou and Suzhou. We believe this
transition will provide the company greater resilience against
market volatility." That's because solid demand in higher-tier
cities offsets greater regulatory constraints, such as price
controls and presale restrictions.

However, Zhongnan faces rising execution and competition risks
while penetrating higher-tier cities. These risks could hurt its
sales execution and the sustainability of deleveraging. S&P
anticipates that by 2020, Zhongnan will hold about 50% of its
saleable resources in higher-tier cities, compared with around 30%
in 2017.

S&P said, "We expect Zhongnan's moderate growth rate and
repositioning in higher-tier cities to support its deleveraging
over the next 24 months. However, while Zhongnan's leverage started
to improve in 2018, the deleveraging is still at a nascent stage,
in our view." Apart from strong sales and earnings growth, the key
to reducing leverage remains the company's commitment to control
its growth in gross debt.

Zhongnan' pace of land acquisitions is likely to be more cautious
in the next one to two years. In 2018, the company significantly
lowered its cash spending on land replenishment to about 48% of
proceeds from contracted sales, from about 83% in 2017, and 71% in
2016. S&P said, "We forecast that Zhongnan will maintain this ratio
at 40%-50% in the next 12-24 months, reflecting a more volatile
market and management's intention to lower leverage. As such, we
expect Zhongnan's debt-to-EBITDA ratio to remain high but improve
to about 6.0x by 2020, and to 5.5x-5.8x in 2021, from 7.3x in
2018."

The visibility of Zhongnan's revenue growth is supported by
unrecognized sales of about RMB110 billion as at mid-2019. However,
the company's EBITDA margin may moderately fall to 18%-20% in
2019-2020 owing to the still substantial exposure to lower-tier
cities and the lower-margin engineering and construction business.

Zhongnan's significant portion of short-term debt maturities and
exposure to nonbank alternative financing also weigh on the rating.
As of June 30, 2019, more than 80% of the company's debt maturities
are concentrated in the next 24 months. About 30% of the reported
gross debt comprises nonbank financing, primarily trust loans. The
high debt burden and moderate refinancing risk are only partly
mitigated by Zhongnan's wider funding channels following its first
issuance of U.S. dollar-denominated senior notes in June 2019.

S&P said, "The positive outlook reflects our expectation that
Zhongnan will continue to expand its operating scale while
controlling its leverage over the next 12-24 months. We expect the
company's profitability to decline moderately as it transitions
toward higher-tier cities. We anticipate its debt-to-EBITDA ratio
to sustain at below 6.0x from the end of 2020 onward.

"We may raise the rating if Zhongnan demonstrates strong sales
execution while significantly improving its financial leverage. An
indication of such improvement would be the debt-to-EBTIDA ratio
staying below 6x on a sustainable basis.

"We could revise the outlook to stable if Zhongnan's debt-funded
expansion is more aggressive than we expect or its contracted sales
drop substantially, such that its debt-to-EBITDA ratio does not
improve to below 6x.

"We could also revise the outlook if the company's liquidity
weakens. A significant drop in the ratio of liquidity sources to
uses would indicate such weakening."

NIO INC: Expects to Report Another Loss for Second Quarter
----------------------------------------------------------
Bloomberg News reports that NIO Inc. is poised to report today,
Sept. 24, that it lost another CNY2.6 billion--around US$4 million
a day--during the second quarter, according to the average of two
analyst estimates. That would bring accumulated losses at the
company, which is backed by technology giant Tencent Holdings, to
about US$5.7 billion since William Li founded the carmaker in
2014.

Cost overruns, weak sales, and major recalls have led NIO to plunge
74 per cent since its market value hit a record US$11.9 billion
about a year ago, Bloomberg relates. More broadly, the company's
reversal of fortune illustrates why concerns are mounting that
China created an electric-vehicle bubble that may be about to
burst, Bloomberg states.

"This year and the next, there's going to be a lot of
card-shuffling for these EV startups," Siyi Mi, an analyst at
BloombergNEF. "Before, venture capital chased after them, but it's
not the case any more."

Total EV sales in China, where half of the world's electric cars
are sold, fell for the first time in July after the government
scaled back subsidies, Bloomberg discloses. Deliveries dropped
again in August, raising doubts that one of the final pillars of
strength in China's broader auto market, which has fallen 14 out of
the past 15 months, is wavering.

According to Bloomberg, China has gradually scaled back subsidies
for new-energy vehicles--all-electric, fuel-celled autos and plugin
hybrids--since 2017 to help the industry stand on its own two feet
and avoid a bubble. That's undermined growth, prompting the likes
of top Chinese electric-carmaker BYD Co. to warn recently that
earnings will wane.

At NIO, pressure is building for it to raise more funds, Bloomberg
states. The carmaker is seeking to reduce its workforce by 14 per
cent to 7,500 by the end of the month, according to the company,
Bloomberg relays. Incidents involving batteries catching fire or
spewing smoke forced NIO to recall about 4,800 vehicles--more than
20 per cent of all the cars it's ever sold. Second-quarter
deliveries dropped from the preceding three-month period.

Bloomberg relates that the company also scrapped plans for a
manufacturing plant in Shanghai after the government opted to
provide financial support to Tesla. Instead, NIO farms out
production of its ES6 and ES8 cars to Anhui Jianghuai Automobile
Group Co.

And even though Tencent and Li each plowed US$100 million into NIO
this month, the capital-intensive nature of the automobile industry
means that "this much money won't last long," Bloomberg quotes Bill
Russo, founder and CEO at Automobility Ltd., a Shanghai-based auto
advisory firm, as saying.

Bloomberg says Mr. Li has played down his company's challenges,
saying in an interview in June that NIO's stock rout was "no big
deal" and that investors needed to understand that making new cars
costs money.

But money is in short supply for the carmaker, which is now
counting on receiving as much as CNY10 billion in funding from an
investment firm backed by the Beijing city government, Bloomberg
notes.

Another looming challenge for NIO is Tesla, which plans to start
production in China later this year, allowing the US company to cut
prices of its vehicles sold in the country, according to
Bloomberg.

"NIO didn't position itself in the right place," Bloomberg quotes
Yale Zhang, founder and CEO of AutoForesight, as saying. "I'm not
optimistic about its future in the long run."

                          About NIO Inc.

NIO Inc. (NYSE:NIO) -- https://www.nio.com/ -- designs,
manufactures, and sells electric vehicles in the People's Republic
of China, Hong Kong, the United States, the United Kingdom, and
Germany. The company offers five, six, and seven-seater electric
SUVs. It is also involved in the provision of energy and service
packages to its users; marketing, design, and technology
development activities; manufacture of e-powertrains, battery
packs, and components; and sales and after sales management
activities. In addition, the company offers charging solutions,
including Power Home, a home charging solution; Power Swap, a
battery swapping service; Power Mobile, a mobile charging service
through charging trucks; and Power Express, a 24-hour on-demand
pick-up and drop-off charging service. Further, it provides
value-added services, such as statutory and third-party liability
insurance, and vehicle damage insurance through third-party
insurers; repair and routine maintenance services; courtesy car
services during lengthy repairs and maintenance; and roadside
assistance, as well as data packages. The company has collaboration
agreements with various manufacturers for the manufacture of ES8, a
six or seven-seater high-performance electric SUV.



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

A.G. MOTOR: CRISIL Maintains 'D' Rating in Not Cooperating
----------------------------------------------------------
CRISIL said the ratings on bank facilities of A.G. Motor (AGM)
continues to be 'CRISIL D Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           1.75       CRISIL D (ISSUER NOT
                                    COOPERATING)

   Standby Line
   of Credit              .75       CRISIL D (ISSUER NOT
                                    COOPERATING)

   Term Loan             2.70       CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with AGM for obtaining
information through letters and emails dated February 26, 2019 and
August 16, 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 AGM, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on AGM 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 AGM continues to be 'CRISIL D Issuer not
cooperating'.

AGM was established in 2009 as a proprietorship firm by Mr Mohan
Singh Guleria. The firm is an authorised dealer in all two wheelers
of Honda for Mandi. It has one 3S (sales-service-spares) showroom
in the district.

ADROIT CORPORATE: CRISIL Maintains D Rating in Not Cooperating
--------------------------------------------------------------
CRISIL said the ratings on bank facilities of Adroit Corporate
Services Private Limited (ACSPL) continues to be 'CRISIL D Issuer
not cooperating'.

                    Amount
   Facilities    (INR Crore)    Ratings
   ----------    -----------    -------
   Cash Credit         6        CRISIL D (ISSUER NOT COOPERATING)
   Term Loan          18.53     CRISIL D (ISSUER NOT COOPERATING)

CRISIL has been consistently following up with ACSPL for obtaining
information through letters and emails dated February 26, 2019 and
August 16, 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 ACSPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on ACSPL 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 ACSPL continues to be 'CRISIL D Issuer not
cooperating'.

Incorporated in 1994, ACSPL provides business process outsourcing
services, primarily to the banking sector. The company is also a
R&T agent. Operations are managed by Mr Sadashiva Shetty.

AMARPARKASH RICE: CRISIL Maintains D Rating in Not Cooperating
--------------------------------------------------------------
CRISIL said the ratings on bank facilities of Amarparkash Rice
Exports Private Limited (AREPL) continues to be 'CRISIL D Issuer
not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            4.5       CRISIL D (ISSUER NOT
                                    COOPERATING)

   Term Loan              9.5       CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with AREPL for obtaining
information through letters and emails dated February 26, 2019 and
August 16, 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 AREPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on AREPL 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 AREPL continues to be 'CRISIL D Issuer not
cooperating'.

Punjab-based AREPL, incorporated in 2013, is promoted by Mr
Rupinder Pal and Mr Narinder Kumar.

BALA BALAJI: CRISIL Maintains 'D' Rating in Not Cooperating
-----------------------------------------------------------
CRISIL said the ratings on bank facilities of Bala Balaji Srinivasa
Poultries (BBSP) continues to be 'CRISIL D Issuer not
cooperating'.

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

   Long Term Loan         1.23      CRISIL D (ISSUER NOT
                                    COOPERATING)

   Proposed Long Term
   Bank Loan Facility      .50      CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with BBSP for obtaining
information through letters and emails dated February 26, 2019 and
August 16, 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 BBSP, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on BBSP 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 BBSP continues to be 'CRISIL D Issuer not
cooperating'.

Set-up in 1989 by Mr Gannamani Sree Ramarao, BBSP is engaged in
hatchery business and has capacity to breed 2 lakh layering birds.

BLUEBERRY AGRO: CRISIL Maintains 'B' Rating in Not Cooperating
--------------------------------------------------------------
CRISIL said the ratings on bank facilities of Blueberry Agro
Products Private Limited (BAPL) continues to be 'CRISIL B/Stable
Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit             2        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)

   Long Term Loan          6        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)
   Proposed Long Term
   Bank Loan Facility      0.5      CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with BAPL for obtaining
information through letters and emails dated February 26, 2019 and
August 16, 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 BAPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on BAPL 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 BAPL continues to be 'CRISIL B/Stable Issuer not
cooperating'.

BAPL was incorporated in November 2011; operations are managed by
Mr Suraj Kumar Daga and his son, Mr Gaurav Daga. The company
manufactures tea extracts and tea pre-mixes at its facility in
Wada, Maharashtra.

BPL TECHNO: CRISIL Maintains 'D' Rating in Not Cooperating
----------------------------------------------------------
CRISIL said the ratings on bank facilities of BPL Techno Vision
Private Limited (BTVPL) continues to be 'CRISIL D Issuer not
cooperating'.

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

CRISIL has been consistently following up with BTVPL for obtaining
information through letters and emails dated February 26, 2019 and
August 16, 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 BTVPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on BTVPL 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 BTVPL continues to be 'CRISIL D Issuer not
cooperating'.

BTVPL, established in 1983 in Bengaluru (Karnataka), manufactures
lanterns and home automation equipment.

CELARA DIAGNOSTICS: CRISIL Assigns B+ Rating to INR12cr Loan
------------------------------------------------------------
CRISIL has assigned its 'CRISIL B+/Stable' rating to the long-term
bank facility of Celara Diagnostics Private Limited (CDPL).


                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Term Loan              12        CRISIL B+/Stable (Assigned)

The rating reflects a modest scale of operations amid intense
competition, and a below-average financial risk profile. These
weaknesses are partially offset by the extensive experience of the
promoter in the diagnostics industry.

Key Rating Drivers & Detailed Description

Weakness:

* Modest scale of operations amid intense competition: Revenue was
modest at Rs 15.17 crore in fiscal 2019 as it was the first full
year of operation. The company has one diagnostics centre in
Bengaluru, exposing it to geographic concentration risks. Moreover,
there is intense competition in the diagnostic services industry
from numerous players offering similar services

* Below-average financial risk profile: The networth was low and
the total outside liabilities to adjusted networth ratio high, at
Rs 3.88 crore and 6.58 times, respectively, as on March 31, 2019.
Debt protection metrics were moderate, with interest coverage ratio
of 2.0 times and net cash accrual to total debt ratio at 0.04 time
in fiscal 2019.

Strength:
* Extensive industry experience: The promoter, Dr Radhesh
Srinivasan, is a radiologist with an experience of over 25 years in
the field of radiology and pathology which is will continue to
support the growth of the business.

Liquidity: Stretched
CDPL has stretched liquidity marked by tightly matched cash
accruals expected at Rs 1-1.5 crore (Rs 0.89 crore in fiscal 2019),
against debt obligation of Rs 1 crore, in fiscal 2020. The company
does not have any working capital limit.

Outlook: Stable

CRISIL believes CDPL will continue to benefit from the extensive
industry experience of its promoter.

Rating sensitivity factors

Upward factors
* Revenue growth exceeding 50% and profitability of more than 15%
per annum over the medium term
* Improvement in net cash accrual, with sufficient cushion between
accrual and debt obligations

Downward factors
* Revenue declining by 10% or profitability of less than 10%
* Deterioration in net cash accrual leading to insufficient
accruals to meet the debt obligation.

Incorporated in 2017, CDPL is promoted by Dr Radhesh Srinivasan and
is based in Bengaluru. The company provides diagnostic services.

DEWA PROJECTS: Insolvency Resolution Process Case Summary
---------------------------------------------------------
Debtor: Dewa Projects Private Limited
        TC/25/1497
        S.S. Kovil Road
        Thampanoor GPO
        Vanchiyoor Village
        Thiruvananthapuram
        Kerala 695001

Insolvency Commencement Date: September 13, 2019

Court: National Company Law Tribunal, Kochi Bench

Estimated date of closure of
insolvency resolution process: March 10, 2020
                               (180 days from commencement)

Insolvency professional: Vinod Padinhare Veettil

Interim Resolution
Professional:            Vinod Padinhare Veettil
                         Indialaw 66-1058 First Floor
                         Veekshanam Road
                         Ernakulam North 682108
                         Ernakulam, Kerala
                         E-mail: vinodpv@gmail.com

Classes of creditors:    Home Buyers (Financial Creditors)

Insolvency
Professionals
Representative of
Creditors in a class:    Mukesh K.P.
                         Rajendran P.R.
                         Balakrishnan Baburajan

Last date for
submission of claims:    September 29, 2019


DEWAN HOUSING: Use of Insolvency Code Will Expedite Resolution
--------------------------------------------------------------
Livemint.com reports that the resolution of Dewan Housing Finance
Corp. Ltd (DHFL) will get a fillip if the government takes charge
of the process under Section 227 of the Insolvency and Bankruptcy
Code (IBC), said the chief executive of a bank, part of the
lenders' consortium.

Livemint.com relates that the banker, who did not wish to be
identified, said that he has already spoken to legal experts who
suggested that use of Section 227 will be beneficial for the
lenders and well as DHFL.

"The resolution plan is being finalised and if the government takes
charge of it, we can expect all things to fall in place much
faster," he said, notes the report.

According to Livemint.com, the banker added that since some of the
bondholders of DHFL have initiated the process of moving the debt
recovery tribunal (DRT), the resolution might suffer a setback.

The Economic Times reported on Sept. 23 that the government is
looking to avoid a spillover effect in the economy that may be
caused by DHFL's troubles, Livemint.com relays.

According to section 227 of IBC, the central government may, if it
considers necessary, in consultation with the appropriate financial
sector regulators, notify financial service providers or categories
of financial service providers for the purpose of their insolvency
and liquidation proceedings, which may be conducted under this
Code, in such manner as may be prescribed, Livemint.com discloses.

On August 30, DHFL had said its board approved the plan to convert
the whole or part of its debt into shares, besides allowing it to
increase the authorized share capital from INR828 crore to
INR1,090.39 crore, Livemint.com recalls. Earlier in August, DHFL
had said that its draft resolution plan, which was submitted to the
lenders, spares creditors from having to take haircuts on principal
payments.

Livemint.com adds that the lenders are now preparing the resolution
plan for DHFL under the Reserve Bank of India's new framework for
resolution of stressed assets released on June 7. According to the
central bank's circular, 75% of lenders by value of the total
outstanding credit facilities to a stressed company, and 60% by
number must agree for an inter-creditor agreement which will be
binding on all lenders, the report states.

                        About Dewan Housing

Dewan Housing Finance Corporation Limited (DHFL) operates as a
housing finance company in India. The company's deposit products
include fixed deposit products for individuals, and trusts and
institutions; and corporate, recurring, and Wealth2Health deposits
products. It also offers home loans, which include home improvement
loans, home construction loans, home extension loans, plot
loans/land loans, plot and construction loans, and balance transfer
of home loans, as well as home loans for the self-employed; small
and medium enterprise loans, including property term, plant and
machinery, medical equipment, and business loans; mortgage loans,
such as loans against property, loan for purchase of commercial
premises, and loan through lease rental discounting; and NRI home
loans.

As reported in the Troubled Company Reporter-Asia Pacific on Sept.
19, 2019, The Hindu BusinessLine said Dewan Housing Finance
Corporation Ltd (DHFL) has defaulted on principal and interest
payments on NCDs aggregating INR104.54 crore. These NCDs were
issued to a single investor. DHFL, in a stock exchange notice, said
the gross principal amount on which the above-mentioned default
occurred is INR100 crore. These 10-year secured NCDs carry a coupon
of 10.05 per cent.  Also, the housing finance company defaulted on
interest amount of INR9.43 crore on another NCD series issued to a
single investor, BusinessLine relates. The gross principal amount
on which this default occurred is INR100 crore. These 10-year
secured NCDs carry a coupon of 9.40 per cent.  Further, DHFL
defaulted on interest payments aggregating INR43 lakh on NCDs
carrying four unique international securities identification
numbers (ISINs), which were issued to 3,404 investors via a public
issue.

DMR HOSPITALS: CRISIL Maintains 'D' Rating in Not Cooperating
-------------------------------------------------------------
CRISIL said the ratings on bank facilities of DMR Hospitals Private
Limited (DMR) continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Overdraft               1        CRISIL D (ISSUER NOT
                                    COOPERATING)

   Proposed Long Term
   Bank Loan Facility      2.6      CRISIL D (ISSUER NOT
                                    COOPERATING)

   Rupee Term Loan         8.9      CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with DMR for obtaining
information through letters and emails dated February 26, 2019 and
August 16, 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 DMR, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on DMR 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 DMR continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

DMR, incorporated in 2011, runs a multi-speciality hospital in
Karnal (Haryana). The company is promoted by Dr Subhash Khanna, Mr
Dalip Singh, Mr Saurabh Juneja, and Mr Tarun Chawla.

FLYWHEEL LOGISTICS: Insolvency Resolution Process Case Summary
--------------------------------------------------------------
Debtor: Flywheel Logistics Solutions Private Limited
        F-213/E-1, OldM. B. Road
        Lado Sarai, New Delhi 110030
        IN

Insolvency Commencement Date: September 2, 2019

Court: National Company Law Tribunal, Delhi Bench

Estimated date of closure of
insolvency resolution process: March 5, 2020

Insolvency professional: CA Suresh Kumar Goyal

Interim Resolution
Professional:            CA Suresh Kumar Goyal
                         C/o SSPJ & Co., Chartered Accountants
                         Basement, 1276, Sector 21B
                         Chandigarh 160022
                         E-mail: suresh@spjca.in

Last date for
submission of claims:    September 23, 2019


FORTPOINT AUTOMOTIVE: CRISIL Keeps 'B-' Rating in Not Cooperating
-----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Fortpoint Automotive
(Cars) Private Limited (FACPL) continues to be 'CRISIL B-/Stable
Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            13        CRISIL B-/Stable (ISSUER NOT
                                    COOPERATING)

   Cash Credit/
   Overdraft facility       5       CRISIL B-/Stable (ISSUER NOT
                                    COOPERATING)

   Inventory Funding
   Facility                49.25    CRISIL B-/Stable (ISSUER NOT
                                    COOPERATING)

   Proposed Long Term
   Bank Loan Facility      16.68    CRISIL B-/Stable (ISSUER NOT
                                    COOPERATING)

   Term Loan               16.07    CRISIL B-/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with FACPL for obtaining
information through letters and emails dated February 26, 2019 and
August 16, 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 FACPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on FACPL 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 FACPL continues to be 'CRISIL B-/Stable Issuer not
cooperating'.

Incorporated in 2001, FACPL is an authorised dealer for MSIL for
sale of its passenger cars in Mumbai. FCAPL operates through two
showrooms and three service centres across Mumbai. The company is
promoted and managed by Mr. Sundeep Bafna and family.

GAJANAN GANGAMAI: CRISIL Maintains D Rating in Not Cooperating
--------------------------------------------------------------
CRISIL said the ratings on bank facilities of Gajanan Gangamai
Industries LLP (GGIL) continues to be 'CRISIL D Issuer not
cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit          124.4       CRISIL D (ISSUER NOT
                                    COOPERATING)

   Term Loan             25.6       CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with GGIL for obtaining
information through letters and emails dated February 26, 2019 and
August 16, 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 GGIL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on GGIL 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 GGIL continues to be 'CRISIL D Issuer not
cooperating'.

CRISIL has combined the financial and business risk profiles of
Gajanan Industries Limited (GIL), Gajanan Oil Pvt Ltd (GOPL),
Gajanan Solvex Ltd (GSL), GGIL, and Nirvedh Oil and Agro Products
Pvt Ltd (NOAL) since they have a common management, are present in
same line of activity, and have operational synergies. They are
referred to as the Gajanan group.

GOPL is a part of the Gajanan group and is promoted by Mr Nitin
Jadhav and his family. The company extracts soya and wash cotton
seed oil, and refines soya, cotton and palm oils. GOPL was
incorporated in December 2015 to undertake expansion of the brown
field project acquired from Bhaskar Foods Pvt Ltd of the Dainik
Bhaskar group.

GSL is a closely held public-limited company set up in 2010. It
extracts oil from cotton seeds and soya and also sells the
by-products, husk, DOC and lint to varied industries. The company
has its plant in Buldhana.

GIL is a closely held public-limited company set up in 2007. It
refines cotton and soya oil into edible oil in its facility in
Buldhana.

NOAL is a traditional oil mill that manufactures edible oil.

GGIL is a partnership concern incorporated in 2014 that extracts
oil from soya seed and sells by-product, DOC, to varied industries.
GGIL has its plant at Hingoli.

GARUDA INFRATECH: CRISIL Maintains 'C' Rating in Not Cooperating
----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Garuda Infratech
India Private Limited (GIIPL) continues to be 'CRISIL C/CRISIL A4
Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Bank Guarantee         3         CRISIL A4 (ISSUER NOT
                                    COOPERATING)

   Cash Credit            6         CRISIL C (ISSUER NOT
                                    COOPERATING)
   Proposed Long Term
   Bank Loan Facility    17         CRISIL C (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with GIIPL for obtaining
information through letters and emails dated
February 26, 2019 and August 16, 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 GIIPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on GIIPL 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 GIIPL continues to be 'CRISIL C/CRISIL A4 Issuer not
cooperating'.

Incorporated in 2010 and based in Hyderabad (Andhra Pradesh), GIIPL
undertakes civil construction work for residential projects. It is
promoted by Mr Sreenivas Babu Kode, Mr Ancha Chittaranjan, Mr Satya
Lakshmi Narayana Gottipati, Mr Raju Venkata Manthena, and Mr Satya
Sekhar Boppanna.

GARV UDYOG: CRISIL Maintains 'D' Rating in Not Cooperating
----------------------------------------------------------
CRISIL said the ratings on bank facilities of Garv Udyog (GU)
continues to be 'CRISIL D/CRISIL D Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           4.25       CRISIL D (ISSUER NOT
                                    COOPERATING)

   Letter of Credit      6.5        CRISIL D (ISSUER NOT
                                    COOPERATING)

   Term Loan             3.75       CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with GU for obtaining
information through letters and emails dated February 26, 2019 and
August 16, 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 GU, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on GU 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 GU continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

GU is a partnership firm, manufacturing copper wires, which are
used in electrical products. The firm's manufacturing facility is
located in Shiv Ganga Industrial Estate, Haridwar. Its operations
are managed by current partners Mr Mukesh Dhawan and Mr Sumit
Magan.

GLOW MAC: CARE Cuts INR10cr LT Loan Rating to 'D', Not Cooperating
------------------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Glow Mac Lighting Private Limited (GPL), as:

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long-term Bank      10.00       CARE D; Issuer Not Cooperating;
   facilities                      Revised from CARE B; Stable on
                                   the basis of best available
                                   information

Detailed Rationale & Key Rating Drivers

CARE has been seeking information from GPL to monitor the ratings
vide e-mail communications/letters dated August 14, 2019, August
13, 2019, May 29, 2019, May 13, 2019 and numerous phone calls.
However, despite CARE's repeated requests, the company has not
provided the requisite information for monitoring the ratings. In
line with the extant SEBI guidelines, CARE has reviewed the rating
on the basis of the best available information which however, in
CARE's opinion is not sufficient to arrive at a fair rating. The
rating on GPL's bank facilities will now be denoted as CARE C;
Stable; ISSUER NOT COOPERATING.

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

The rating has been revised on account of continuing losses
incurred by Glow Mac Lighting Private Limited in FY18 and FY17 and
non-availability of requisite information due to non-cooperation by
GPL with CARE'S efforts to undertake a review of the rating
outstanding. CARE views information availability risk as a key
factor in its assessment of credit risk.

Further, the rating of the company continues to be restricted by
small though growing scale of operations, weak financial risk
profile, elongated operating cycle and weak liquidity indicators.
The rating is further constrained on account of exposure to raw
material price volatility and GPL's presence in the highly
competitive industry with competition from China. The rating,
however, continue to draw comfort from experienced promoters.

Detailed description of the key rating drivers

At the time of last rating on June 25, 2018 the following were the
rating weaknesses and strength (updated with the data from
Registrar of Companies):

Key Rating Weaknesses
Losses during past financial year
The company has incurred net losses during the past financial year,
FY18 (refers to period April 1 to March 31) and FY17 due to small
scale of operations and high interest and depreciation cost.

Small though growing scale of operations
The scale of operations continues to remain small marked by a total
operating income of INR10.55 crore in FY18 as against Rs.9.08 crore
in FY17 (refers to period April 01 to March 31).Furthermore, there
was erosion of net worth base owing to net losses incurred by the
company as marked by net worth of negative INR1.11 crore as on
March 31, 2018. The small scale limits the company's financial
flexibility in times of stress and deprives it from scale benefits.
Though the risk is partially mitigated by the fact that the scale
of operations has been growing continuously for the past three
years i.e. FY16-FY18 at compounded annual growth rate of 32.82%
owing to higher quantity sold.

Weak financial risk profile
The profitability profile of the company deteriorated as marked by
decline in PBILDT margin to 5.09% in FY18 as against 12.22% in
FY17. Also, the company suffered net losses for the past three
financial years (i.e. FY16-FY18); owing to high interest cost and
depreciation expense. The capital structure of the company stood
highly leveraged mainly on account of erosion of net worth base due
to losses in the recent past. Further, the company had taken loans
for capacity expansion & working capital requirements are mainly
funded through bank borrowings and through unsecured loans by the
promoters. Furthermore, debt coverage indicators stood weak marked
by interest coverage ratio and total debt to GCA of 0.42x and -
25.69x respectively, as on March 31, 2018 on account of high
interest expense and high reliance on external borrowings.

Elongated operating cycle
The operating cycle of the company remained high at 160 days
attributable to high inventory holding period. The company
generally maintains inventory of around 6 months in the form of raw
material for smooth production process and finished goods to meet
the immediate demand of the customers resulting in an average
inventory holding of 181 days in FY18. The company allows a credit
period of around 2-3 months to its customer due to competitive
nature of industry resulting in an average collection period of 75
days in FY18. The company generally receives a credit period of
around 3 months resulting in an average credit period of 97 days in
FY18.

Weak liquidity indicators
The liquidity indicators of the company stood weak as marked by
current and quick ratios of 0.90x and 0.33x respectively as on
March 31, 2018.

Exposure to raw material price volatility
The prices of raw material, especially metals such as aluminum &
copper and others, required for the manufacture of electric
appliances are volatile in nature. With the cost of raw materials
accounting major part of the total production cost in FY18; an
upward movement in the raw material prices will adversely affects
the profitability of the company.

Highly competitive nature of industry with competition from China
GPL operates in a highly competitive industry wherein there is
presence of a large number of players in the unorganized and
organized sectors. There are number of small and regional players
catering to the same market which has limited the bargaining power
of the company and has exerted pressure on its margins.
Additionally, the Indian electric components manufacturer remain
faced with stiff competition from low- cost imported products
especially from China.

Key Rating Strengths

Experienced promoters
The operation of GPL is currently being managed by Mr. Arun Kumar
Jain and Mr. Vibhor Jain. Mr. Arun Kumar Jain is a post graduate by
qualification and holds more than five decades of experience in the
manufacturing of electrical components through his association with
GPL and other family run business. Mr. Vibhor Jain is also a post
graduate by qualification and holds more than two decade of
experience in electrical industry through her association with GPL
and with family run business. Moreover, GPL has a well-qualified
and experienced team of projects mangers, project engineers and
dedicated purchase planning and execution department with good
experience.

Rajasthan based Glow Mac lighting Private Limited (GPL),
incorporated in February 18, 2008, and is being managed by Mr. Arun
Kumar Jain and Mr. Vibhor Jain. The company is engaged in the
manufacturing of various electrical items such as LED (Light
Emitting Diode), Non-LED fittings and fixtures with installed
capacity of 5 lac units per annum at its manufacturing facility
located in Bhiwadi (Rajasthan). The raw material for the company
includes various electrical components such as copper, aluminum
conductor etc. which the company procures mainly from various
wholesalers locally. The electrical equipment manufactured by the
company are mainly sold to electrical equipment companies and other
electronic dealers.

H M STEELS: CRISIL Maintains 'D' Rating in Not Cooperating
----------------------------------------------------------
CRISIL said the ratings on bank facilities of H M Steels Limited
(HMSL) continues to be 'CRISIL D/CRISIL D Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            26        CRISIL D (ISSUER NOT
                                    COOPERATING)

   Funded Interest
   Term Loan               5.51     CRISIL D (ISSUER NOT
                                    COOPERATING)

   Letter Of Guarantee     2        CRISIL D (ISSUER NOT
                                    COOPERATING)

   Working Capital
   Term Loan              40        CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with HMSL for obtaining
information through letters and emails dated February 26, 2019 and
August 16, 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 HMSL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on HMSL 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 HMSL continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

HMSL, incorporated in 1999, manufactures ingots, ERW pipes, MS
bars, and galvanised iron pipes at its plant in Sirmour (Himachal
Pradesh); it sells in the domestic market. It is managed by Mr.
Megh Raj Garg, Mr. Rajnish Bansal, Mr. Pankaj Bansal, and Mr. Ashok
Kumar Singla.

IL&FS: Faces INR10 Lakh SEBI Fine for Disclosure Lapses
-------------------------------------------------------
BloombergQuint reports that Securities and Exchange Board of India
(SEBI) on Sept. 18 imposed a penalty of INR10 lakh on
Infrastructure Leasing & Financial Services Ltd. for not disclosing
price sensitive information, pertaining to fund raising via rights
issue and asset disinvestment plan to the BSE.

According to BloombergQuint, SEBI found that IL&FS did not disclose
the decision of its board meeting held in July last year about
equity infusion plan by way of rights issue, amounting to INR4,500
core to the stock exchange.

Besides, the company failed to make disclosure about the board's
decision related to specific asset disinvestment plan to reduce the
overall debt by INR30,000 crore to the exchange, it noted,
BloombergQuint relays.

BloombergQuint says the company was under the obligation to
promptly inform the decisions taken in its board meetings dated
July 21, 2018 and Aug. 29, 2018 to the BSE. However, it failed to
disclose the same and violated the provision of Listing Obligations
and Disclosure Requirements Regulations.

"The failures by the noticee (IL&FS) are blameworthy and have also
occurred due to lethargic indifference and needless procrastination
as the noticee selectively chose to make disclosure to BSE on Aug.
29, 2018 about certain information but did not disclose to BSE any
of the impugned price sensitive information and those having
bearing on performance/operation of the noticee," SEBI, as cited by
BloombergQuint, said in its 17- page order.

Accordingly, SEBI has slapped a fine of INR10 lakh on (IL&FS) and
has to pay the amount within 45 days, the report says.

With regard to the rights issue plan, IL&FS contended that it did
not inform the BSE because the plan was at discussion stage in July
board meeting and was finally approved in the board meeting held on
Aug. 29, 2018 and thereon it had made disclosure to the BSE on same
date, according to BloombergQuint. However, SEBI noted that the
company had shared the information with credit rating agency on
July 23, 2018.

"If the noticee could share the important information about the
rights issue of equity shares at discussion stage, as claimed, with
CRA, then there are no justifiable reason for withholding the same
from the stock exchange," the regulator pointed out, relays
BloombergQuint.

In respect to non-disclosure of specific asset disinvestment plan',
IL&FS contended that there was no specific corporate action or
approval undertaken by its board in the meeting dated Aug. 29, 2018
in relation to this matter. Further, the same information was
disseminated on the the company's website on Aug. 29, 2018.

BloombergQuint adds that the company also contended that its right
issue of equity shares and specific asset divestment plan both did
not materialize and therefore, it did not result in any loss to the
investors or securities markets.

                           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.

INDEPENDENT TV: CARE Keeps 'D' Rating in Not Cooperating
--------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Independent
TV Ltd [ITL; erstwhile Reliance Big TV Limited]  continues to
remain in the 'Issuer Not Cooperating' category.

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long/Short Term     90.00       CARE D/CARE D; ISSUER NOT
   Bank Facilities                 COOPERATING; Based on best
                                   available information

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated April 5, 2018, placed the
rating(s) of ITL under the 'issuer non-cooperating' category as ITL
had failed to provide information for monitoring of the rating and
had not paid the surveillance fees for the rating exercise as
agreed to in its Rating Agreement. ITL continues to be
noncooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
August 22, 2019; August 19, 2019 and August 12, 2019. In line with
the extant SEBI guidelines, CARE has reviewed the rating on the
basis of the best available information which however, in CARE's
opinion is not sufficient to arrive at a fair rating.

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

Detailed description of the key rating drivers

At the time of the last rating on June 13, 2017 the following were
the rating strengths and weakness

Key Rating Weakness

Delay in servicing of debt obligation: The Company had delayed in
servicing of its debt obligations due to severe deterioration in
the financial and liquidity profile coupled with high debt service
obligations.

Liquidity - Poor

In August 2008, under the brand name Reliance Big TV (now
Independent TV Limited), Reliance Group launched the Direct-To-Home
(DTH) digital TV Business currently offering a Standard Definition,
High Definition and High Definition-DVR STBs with large channel
bouquet of 290+ channels in HD quality. In August 2008, under the
brand name Reliance Big TV (now Independent TV Limited), Reliance
Group launched the Direct-To-Home (DTH) digital TV Business
currently offering a Standard Definition, High Definition and High
Definition-DVR STBs with large channel bouquet of 290+ channels in
HD quality. Reliance Communication Limited had entered into a
definitive binding agreement with Pantel Technologies Private
Limited and Veecon Media and Television Limited (the Purchaser) for
sale of its subsidiary company, Independent TV Limited (ITVL)
(Formerly Reliance Big TV Limited having DTH Business.

INNOVATE VENTURES: Insolvency Resolution Process Case Summary
-------------------------------------------------------------
Debtor: Innovate Ventures (India) Private Limited

        Registered office:
        Durgabari, Western Compound Agartala
        Tripura, Agartala
        West Tripura 799001

           - and -

        4, Mantri Bari Road
        2nd Floor, P.O. Agartala H.O.
        P.S. - West Agartala
        Agartala 799001
        Tripura

Insolvency Commencement Date: Setember 16, 2019

Court: National Company Law Tribunal, Kolkata Bench

Estimated date of closure of
insolvency resolution process: March 14, 2020

Insolvency professional: Shashi Agarwal

Interim Resolution
Professional:            Shashi Agarwal
                         Subarna Appartment
                         (Opp. Udayan Club)
                         21N, Block-A, New Alipore
                         Kolkata 700053
                         E-mail: shashiagg@rediffmail.com
                                 inno6750@rediffmail.com

Last date for
submission of claims:    September 30, 2019


JOSAN FOODS: CRISIL Maintains 'D' Rating in Not Cooperating
-----------------------------------------------------------
CRISIL said the ratings on bank facilities of Josan Foods Private
Limited (JFPL; part of the Josan group) continues to be 'CRISIL D
Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            37        CRISIL D (ISSUER NOT
                                    COOPERATING)

   Proposed Long Term
   Bank Loan Facility      0.56     CRISIL D (ISSUER NOT
                                    COOPERATING)

   Term Loan              20        CRISIL D (ISSUER NOT
                                    COOPERATING)

   Warehouse Receipts     10        CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with JFPL for obtaining
information through letters and emails dated February 26, 2019 and
August 16, 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 JFPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on JFPL 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 JFPL continues to be 'CRISIL D Issuer not
cooperating'.

For arriving at the rating, CRISIL has combined the business and
financial risk profiles of JFPL and Ganesh Rice Mills (Partnership)
{GRM]. This is because these two entities, together referred to
herein as the Josan group, are in a similar line of business and
have a common management.

JFPL, set up in 2000 by Mr. Hukam Chand Josan and Mr. Sher Chand
Josan in Ferozepur (Punjab), mills and shells rice.

GRM, set up in 2010, mills rice. Currently, the firm is managed by
its partners, Mr. Sarvjeet Josan and Mr. Pushpinder Singh.

The Josan group has combined milling and sorting capacities of 14
tonnes per hour (tph) and 10 tph, respectively.

KANDAGIRI SPINNING: CARE Reaffirms D Rating on INR30.85cr Loan
--------------------------------------------------------------
CARE Ratings reaffirmed ratings on certain bank facilities of
Kandagiri Spinning Mills Limited (KSML), as:

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long term Bank
   Facilities          30.85       CARE D Reaffirmed

   Short term Bank
   Facilities           1.00       CARE D Reaffirmed

   Fixed deposit       14.01       CARE D (FD) Reaffirmed

Detailed Rationale & Key Rating Drivers

The ratings assigned to the bank facilities and fixed deposit of
KSML continue to factor in the on-going delays in repayment of debt
due to liquidity constraints.

Detailed description of the key rating drivers

Key Rating Weaknesses

Delay in servicing debt obligations: The Company has on-going
delays in servicing its debt obligations.

Moderate operational and financial performance during FY19: The
Company is involved in spinning of cotton yarn and the operating
income continues to be moderate at INR69.71 crore in FY19 albeit
increased from INR54.76 crore in FY18. The company reported loss
after tax of INR18.59 crore (PY: net loss of INR11.63 crore) in
FY19.

Key Rating Strength

KSML's long standing track record and promoter's vast experience:
KSML has been in operation since 1976 and belongs to the
'Sambandam' Group which is primarily involved in the business of
textile spinning, besides NBFC and Healthcare.  Promoters of the
group belong to a family who were traditionally yarn merchants.

Liquidity: Poor - Poor Liquidity marked by lower accruals when
compared to repayment obligations, fully utilized bank limits and
modest cash balance. This could constrain the ability of the
company to repay the debt obligations on a timely basis.

KSML was originally incorporated in 1976 in Salem, Tamil Nadu,
under the name of 'The Ammapet Sizing Mills Private Limited'. The
company took its current name in 1978 and became a public limited
company in 1995. KSML is engaged in textile spinning with an
aggregate capacity of 27,296 spindles (as on March 31, 2019).

MAGIC INFO: Insolvency Resolution Process Case Summary
------------------------------------------------------
Debtor: M/s Magic Info Solutions Private Limited
        D-13 Defence Colony
        New Delhi 110024

Insolvency Commencement Date: September 5, 2019

Court: National Company Law Tribunal, New Delhi Bench

Estimated date of closure of
insolvency resolution process: March 3, 2020

Insolvency professional: Gaurav Katiyar

Interim Resolution
Professional:            Gaurav Katiyar
                         D-32, East of Kailash
                         New Delhi 110065
                         E-mail: cagauravkatiyar@gmail.com
                                 magicinfo.cirp@gmail.com

                            - and -

                         The Insolvency and Bankruptcy Board of
                         India (IBBI)
                         7th Floor, Mayur Bhawan
                         Shankar Market, Connaught Circus
                         New Delhi 110001

Classes of creditors:    Allotee under real estate project

Insolvency
Professionals
Representative of
Creditors in a class:    Mr. Manoj Kumar Singh
                         203, 2nd Floor
                         10, Sikka Complex Community Centre
                         Preet Vihar, New Delhi
                         Delhi 110092
                         E-mail: cma.msingh@gmail.com

                         Mr. Mukul Kumar
                         D-3/1304, The Legend
                         Sushant Lok Phase 3
                         Sector 57, Gurgaon
                         Haryana 122011
                         E-mail: adv.mksingh@gmail.com

                         Mr. Shyam Arora
                         96, Aravali Apartment
                         Alaknanda, New Delhi
                         National Capital Territory of Delhi
                         110019
                         E-mail: arora.shyaam@yahoo.com

Last date for
submission of claims:    September 28, 2019

MAHESWARI FERTILIZERS: CRISIL Keeps 'B' Rating in Not Cooperating
-----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Maheswari Fertilizers
(MF) continues to be 'CRISIL B/Stable Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit             5        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with MF for obtaining
information through letters and emails dated February 26, 2019 and
August 16, 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 MF, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on MF 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 MF continues to be 'CRISIL B/Stable Issuer not
cooperating'.

MF, a partnership firm set up in September 2009, manufactures
nitrogen-phosphorous-potassium (NPK)-based fertilizers. The firm is
promoted by Mr V Rami Reddy and his associates, and its
manufacturing facility is in Kadapa, Andhra Pradesh.

METRO PLYWOODS: CRISIL Maintains B+ Rating in Not Cooperating
-------------------------------------------------------------
CRISIL said the ratings on bank facilities of Metro Plywoods (MP)
continues to be 'CRISIL B+/Stable Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit             5        CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with MP for obtaining
information through letters and emails dated February 26, 2019 and
August 16, 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 MP, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on MP 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 MP continues to be 'CRISIL B+/Stable Issuer not
cooperating'.

Set up in 1978 in Chennai as a partnership firm by Mr. Ashraf, MP
trades in plywood and timber. Operations are managed by Mr. Ashraf
and his son Mr.Mishad Ashraf.

MICROTEX FASHION: CARE Keeps 'D' Rating in Not Cooperating
----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Microtex
Fashion Industries. (MTFI) continues to remain in the 'Issuer Not
Cooperating' category.

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long term Bank       7.23       CARE D; ISSUER NOT COOPERATING;
   Facilities                      Based on best available
                                   Information

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated December 19, 2018, placed
the rating of MTFI under the 'issuer non-cooperating' category as
MTFI had failed to provide information for monitoring of the rating
for the rating exercise as agreed to in its Rating Agreement. MTFI
continues to be non-cooperative despite repeated requests for
submission of information through e-mails, phone calls and an email
dated June 24, 2019, July 03, 2019, July 16, 2019 and July 29,
2019. In line with the extant SEBI guidelines, CARE has reviewed
the rating on the basis of the best available information which
however, in CARE's opinion is not sufficient to arrive at a fair
rating.

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

Detailed description of the key rating drivers

At the time of last rating on December 19, 2018, the following were
the rating strengths and weaknesses:

Key Rating Weaknesses

Delay in debt servicing: The account of MTFI has been irregular in
debt servicing owing to weak liquidity position and ongoing delays.


Liquidity Analysis: Liquidity position of the MTFI remained weak
owing to cash flow mismatch from operations.

Valsad-based (Gujarat) MTFI was established in the year 2015 by the
proprietor Ms Beena Jayesh Gor, with an objective of manufacturing
and trading of linen fabric from flax yarn, which finds application
in the textile industry. MTFI commenced trading operations in linen
fabric from April 2015 while the manufacturing operations commenced
from September 2015 from its sole manufacturing facility located in
Valsad (Gujarat) with 48 rapier looms having an installed capacity
of about 1.75 lakh metres of linen fabric per month. MTFI procures
flax yarn domestically and sells the finished product to retailers
and wholesalers located in various cities of India like Ludhiana,
Hyderabad, Kanpur etc.

MILAN INFRASTRUCTURES: CRISIL Keeps D Rating in Not Cooperating
---------------------------------------------------------------
CRISIL said the ratings on bank facilities of Milan Infrastructures
and Developers Private Limited (MIDPL) continues to be 'CRISIL D
Issuer not cooperating'.

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

CRISIL has been consistently following up with MIDPL for obtaining
information through letters and emails dated February 26, 2019 and
August 16, 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 MIDPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on MIDPL 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 MIDPL continues to be 'CRISIL D Issuer not
cooperating'.

MIDPL, set up in 2006, is engaged in development of various
residential and commercial projects, mainly in Ghaziabad (Uttar
Pradesh). The company is promoted by Mr. Navin Tyagi and Mr. Amit
Mahajan. At present, it is undertaking a residential-cum-commercial
project at Rajnagar extension, Ghaziabad.

MK BUILDERS: CRISIL Maintains 'B' Rating in Not Cooperating
-----------------------------------------------------------
CRISIL said the ratings on bank facilities of MK Builders and
Developers (MKBD) continues to be 'CRISIL B/Stable Issuer not
cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Corporate Loan          5        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)

   Project Loan            3        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)

   Proposed Long Term
   Bank Loan Facility     40        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with MKBD for obtaining
information through letters and emails dated February 26, 2019 and
August 16, 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 MKBD, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on MKBD 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 MKBD continues to be 'CRISIL B/Stable Issuer not
cooperating'.

Established in 2002 as a partnership entity, MKBD constructs and
sells real estate projects in and around Vishakhapatnam. The firm
is promoted by Mr. M Rathniah and Mr. Ramakrishna Rao.

MULTIWAL DUPLEX: Insolvency Resolution Process Case Summary
-----------------------------------------------------------
Debtor: Multiwal Duplex Private Limited
        Bazpur Roadkashipur U S Nagar
        Uttaranchal UR 244713
        IN

Insolvency Commencement Date: September 12, 2019

Court: National Company Law Tribunal, Meerut Bench

Estimated date of closure of
insolvency resolution process: March 10, 2020

Insolvency professional: Manish Agarwal

Interim Resolution
Professional:            Manish Agarwal
                         707, Saket
                         Opp. Rohtash Sweets
                         Meerut 250001
                         Uttar Pradesh
                         Tel.: 0121-4054491
                               9412705345205
                         E-mail: manishfcs@gmail.com

                            - and -

                         2nd Floor, Rohit House
                         Tower-2, Tolstoy Marg
                         Connaught Place
                         New Delhi 01
                         Tel.: 011-41509352
                               9412705345
                         E-mail: cirp.multiwalduplex@gmail.com

Last date for
submission of claims:    September 27, 2019


NIJAGUNA LAND: CRISIL Keeps 'D' Rating in Not Cooperating
---------------------------------------------------------
CRISIL said the ratings on bank facilities of Nijaguna Land
Developers and Builders (NLDB) continues to be 'CRISIL D Issuer not
cooperating'.
                   Amount
   Facilities    (INR Crore)    Ratings
   ----------    -----------    -------
   Cash Credit         9        CRISIL D (ISSUER NOT COOPERATING)

CRISIL has been consistently following up with NLDB for obtaining
information through letters and emails dated February 26, 2019 and
August 16, 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 NLDB, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on NLDB 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 NLDB continues to be 'CRISIL D Issuer not
cooperating'.

Nijaguna Land Developers and Builders (NLDB) is a proprietorship
firm involved in civil construction works like construction of
roads, bridges and construction and maintenance for irrigation
facilities in   Karnataka. The firm is being managed by Mr Gowda.

NTL ELECTRONICS: Insolvency Resolution Process Case Summary
-----------------------------------------------------------
Debtor: NTL Electronics India Limited

        Registered office:
        305, Guru Amar DassBhawan
        78, Nehru Place, New Delhi
        Delhi 110019

Insolvency Commencement Date: August 27, 2019

Court: National Company Law Tribunal, New Delhi Bench

Estimated date of closure of
insolvency resolution process: February 22, 2020
                               (180 days from commencement)

Insolvency professional: Preeti Jaiswal

Interim Resolution
Professional:            Preeti Jaiswal
                         A-3/312 Milan Vihar Apartments
                         72, IP Extension, New Delhi
                         National Capital Territory of Delhi
                         110092
                         E-mail: capreetigoyal@gmail.com

                            - and -

                         405, Arunachal Building
                         Barakhamba Road
                         New Delhi 110001
                         E-mail: ip.capreetigoyal@gmail.com

Last date for
submission of claims:    September 28, 2019


PALLAVI CONSTRUCTIONS: CRISIL Keeps C Rating in Not Cooperating
---------------------------------------------------------------
CRISIL said the ratings on bank facilities of Pallavi
Constructions-Hyderabad (PC) continues to be 'CRISIL C/CRISIL A4
Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Bank Guarantee          7        CRISIL A4 (ISSUER NOT
                                    COOPERATING)

   Secured Overdraft       7        CRISIL C (ISSUER NOT
   Facility                         COOPERATING)

CRISIL has been consistently following up with PC for obtaining
information through letters and emails dated February 26, 2019 and
August 16, 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 ratings on bank
facilities of PC continues to be 'CRISIL C/CRISIL A4 Issuer not
cooperating'.

Established in 1996 as a partnership firm, Pallavi Constructions
(PC) in engaged in civil construction activities mainly
construction of railway over bridges (ROB) and excavation work
related activities. Based in Hyderabad, Telangana, the firm is
promoted by Mr. P Chandrashekhra Reddy, Mr. K Madhusudhan Reddy,
Mr. K Ashok Reddy, Ms.P Yamuna, Mr. P Pavan Kumar Reddy and Ms.P
Pallavi.

PUNE TUBES: CRISIL Maintains 'D' Rating in Not Cooperating
----------------------------------------------------------
CRISIL said the ratings on bank facilities of Pune Tubes
Manufacturing Private Limited (PTMPL) continues to be 'CRISIL D
Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            4.5       CRISIL D (ISSUER NOT
                                    COOPERATING)

   Proposed Cash
   Credit Limit            7.25     CRISIL D (ISSUER NOT
                                    COOPERATING)

   Term Loan               8.25     CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with PTMPL for obtaining
information through letters and emails dated
February 26, 2019 and August 16, 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 PTMPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on PTMPL 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 PTMPL continues to be 'CRISIL D Issuer not
cooperating'.

Established in 2011, PTMPL, promoted by Mr Prakash Saxsena, Mr Atul
Dudhe, Mr Nitin Sathe, and Mr NM Parande, was set up a plant for
manufacturing ERW pipes in Pimpari Saandas near Pune (Maharashtra).
Commercial operations began October 2016. Its registered office is
in Pune.

RAJAVE TEXTILES: CRISIL Maintains D Rating in Not Cooperating
-------------------------------------------------------------
CRISIL said the ratings on bank facilities of Rajave Textiles
Private Limited (RTPL) continues to be 'CRISIL D/CRISIL D Issuer
not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Bank Guarantee        1.05       CRISIL D (ISSUER NOT
                                    COOPERATING)

   Cash Credit          50          CRISIL D (ISSUER NOT
                                    COOPERATING)

   Letter of Credit      8          CRISIL D (ISSUER NOT
                                    COOPERATING)

   Long Term Loan       12.29       CRISIL D (ISSUER NOT
                                    COOPERATING)

   Proposed Long Term
   Bank Loan Facility   10.1        CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with RTPL for obtaining
information through letters and emails dated February 26, 2019 and
August 16, 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 RTPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on RTPL 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 RTPL continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

Incorporated in 1995 and promoted by Mr. S Ravindran, RTPL
manufactures cotton yarn of counts ranging from 18s to 40s. The
company's spinning mill is in Coimbatore (Tamil Nadu).

RELIANCE CAPITAL: $5 Billion Debt at Risk After D Rating
--------------------------------------------------------
Rahul Satija at Bloomberg News reports that Reliance Capital Ltd.'s
downgrade to default grade at Care Ratings Ltd. places the debt of
embattled tycoon Anil Ambani's conglomerate at risk, reigniting
India's credit scare.

Mumbai-based Care cut Reliance Capital's bonds by eight notches to
D from BB, citing a delay in coupon payments on several of the
lender's non-convertible debentures, the rating company said in a
Sept. 20 statement, Bloomberg relays. Reliance Capital group's debt
stood at about $5 billion as of September, according to a company's
spokesman.

The delay in coupon payments was caused by a "technical glitch in
bank servers," Reliance Capital said on Sept. 21 in an exchange
filing, adding that the ratings company did not give the lender the
opportunity to provide comments on the downgrade, according to
Bloomberg. Payment went through on the next working day after the
delay, the shadow lender said.

The downgrade "will precipitate a chain sequence of events that
will gravely harm the interests of millions of retail and
institutional investors having direct or indirect exposure to the
securities of the company," Reliance Capital said.

According to Bloomberg, the debt of the Reliance ADAG Group
ballooned to about INR939 billion at four of its biggest units as
of March.

Bloomberg says the default rating is set to exacerbate a yearlong
credit crunch among India's shadow lenders, which started with the
collapse of IL&FS Group last year. Mumbai-based Reliance Capital
has been trying to sell off assets to raise funds while its shares
tumbled more than 90% over the past year amid the cash squeeze, the
report notes.

The liquidity profile of the group remains under stress due to
delays in fundraising from asset monetization plan and upcoming
debt repayments, Care Ratings said, Bloomberg adds.

RELIANCE CAPITAL: CARE Lowers Rating on INR15,000cr Loan to D
-------------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Reliance Capital Ltd. (RCL), as:

                     Amount
  Facilities       (INR crore)     Ratings
  ----------       -----------     -------
  Long Term debt       15,000      'CARE D' Revised from 'CARE BB;
  Programme                        Stable'

  Subordinated Debt     1,500      'CARE D' Revised from 'CARE BB;

                                   Stable'

  Market Linked           500      'CARE PP-MLD D' Revised from
  Debenture                        'CARE PP-MLD BB; Stable'

Detailed Rationale & Key Rating Drivers

The rating revision takes into account the recent instance of delay
in servicing of coupon on several non-convertible debentures by the
company. The coupon was subsequently serviced with a delay of one
working day.

The liquidity profile of the group continues to be under stress on
account of delay in raising funds from the asset monetization plan
and impending debt payments.

Detailed description of the key rating drivers

Key Rating Weaknesses

Delay in servicing of debt obligations: Coupon payments of certain
Non-Convertible Debentures (NCDs) of RCL were due on September 9,
2019. The Debenture Trustee for these NCDs has informed CARE (via
its email dated September 11, 2019) that RCL has delayed the
payment of coupon on these NCDs by one working day and paid the
same on September 11, 2019. This constitutes an event of default as
per CARE's default recognition policy.

Liquidity - Poor

RCL's cash and bank balance (including liquid investments) reduced
to INR19 crore as on July 31, 2019 from INR2,941 on March 31, 2018.
Apart from this, RCL does not have any liquid investments or
unutilized committed lines. Thus, RCL's liquidity is critically
dependent on monetization of its sale of group assets/investments
within the given timelines, given that there are scheduled
repayments of standalone debt worth INR1,642 crore from August 2019
to December 2019. RCL has also further extended fresh corporate
guarantees towards various group entities' debt.

The default by the subsidiary reflects RCL's inability as a parent
to support its subsidiaries due to liquidity constraints at its
level. Further, promoter and promoter group owned 41.71% stake in
RCL as on June 30, 2019 out of which 96.50% of shares are pledged
indicating stressed liquidity position.

RCL's resource profile mainly comprises NCDs which have repayments
spread across the period from FY19 to FY28 in the range of INR2,000
crore to INR3,000 crore per year. As on July 31, 2019, the total
borrowing stands at INR17,949 crore mainly comprising NCDs.

Industry Prospects
Over the last few years, the NBFC sector has gained systemic
importance with increase in share of NBFC credit vis-a-vis total
bank credit. The same has resulted in the Reserve Bank of India
(RBI) taking various policy actions resulting in NBFCs attracting
higher support and regulatory scrutiny. The RBI revised the
regulatory framework for NBFCs in 2014 which broadly focused on
strengthening the structural profile of NBFC sector, thereby
safeguarding depositors' money and regulating NBFCs which have
increased their asset-size over time and gained systemic
importance. On the asset quality front, despite the gradual change
in the NPA recognition norms from 180 days previously to 90 days by
March, 2018, the asset quality has remained largely stable for the
sector and far superior to banks. The sector is in the midst of a
liquidity stress scenario, with disruptions in the short-term
commercial paper market, sharp correction in stock prices of NBFCs
and cautious approach taken by the banks towards lending to the
sector. Asset quality, liquidity and profitability will be the key
monitorables for the sector going forward.

                       About Reliance Capital

Reliance Capital Ltd. (RCL) is the company of Reliance Group in the
financial services space. It is one of India's leading private
sector financial services companies and ranks amongst the top
private sector financial services companies in terms of net worth.
RCL is converted into a 'Core Investment Company' subject to
necessary approvals from RBI on September 7, 2018. Reliance Capital
has interests in asset management and mutual funds; life and
general insurance; commercial and home finance; equities &
commodities broking; investment banking; wealth management
services; distribution of financial products; private equity; asset
reconstruction; proprietary investments and other activities in
financial services. On a standalone basis, RCL's net worth stands
at INR8,868 crore as on March 31, 2019.

SATISH AGRO: CARE Keeps 'D' Rating in Not Cooperating
-----------------------------------------------------
CARE Ratings said the rating for the bank facilities of Satish Agro
Industries (SAI) continues to remain in the 'Issuer Not
Cooperating' category.

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long-term Bank       6.00       CARE D; Issuer Not Cooperating;
   facilities                      based on best available
                                   information

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated January 16, 2019 placed the
rating of SAI under the 'issuer noncooperating' category as had
failed to provide information for monitoring of the rating and had
not paid the surveillance fees for the rating exercise as agreed to
in its Rating Agreement. SAI continues to be non-cooperative
despite repeated requests for submission of information through
e-mails, phone calls and a letter dated August 26, 2019. In line
with the extant SEBI guidelines, CARE has reviewed the rating on
the basis of the best available information which however, in
CARE's opinion is not sufficient to arrive at a fair rating.

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

Detailed description of the key rating drivers
At the time of last rating on January 16 2019, the following were
the rating strengths and weaknesses.

Key Rating Weaknesses

Delay in the debt servicing
There was delay in Debt servicing in past.

Indore (Madhya Pradesh) based Satish Agro Industries (SAI) was
formed as a proprietorship concern by Mr. Satish Jain in 1998. SAI
is engaged in manufacturing of agricultural spray pumps, power
sprayers and other machinery parts. The firm supplies its product
to government departments, private sector unit and direct counter
sale to farmers.

SHEETAL AGRO: CARE Lowers Rating on INR5.0cr LT Loan to 'D'
-----------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Sheetal Agro Food Park Private Limited, as:

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long-term Bank      5.00        CARE D; Issuer Not Cooperating;
   facilities                      Revised from CARE B; Stable;
                                   on the basis of best available
                                   information

Detailed Rationale & Key Rating Drivers

CARE has been seeking no default statement from Sheetal Agro Food
Park Private Limited to monitor the ratings vide email
communications dated August 28, 2019, August 27, 2019, August 22,
2019 and numerous phone calls. However, despite CARE's repeated
requests, the company has not provided no default statement for
monitoring the ratings. In line with the extant SEBI guidelines,
CARE has reviewed the rating on the basis of the publicly available
information which however, in CARE's opinion is not sufficient to
arrive at a fair rating. The ratings of Sheetal Agro Food Park
Private Limited bank facilities will now be denoted as CARE D;
ISSUER NOT COOPERATING.

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

The rating takes into account the ongoing delays in the servicing
of interest obligations due to stressed liquidity position.

Detailed description of the key rating drivers

Key Rating Weaknesses

Ongoing delay in debt servicing due to tight liquidity position
As per the banker feedback, there have been ongoing delays in
servicing of the term debt obligation due to tight liquidity
position.

Kanpur (U.P) based Sheetal Agro Food Park Private Limited was
incorporated in January, 2010 and is currently being managed by
Mohd Altamash and Mohd Arshad. The company is engaged in renting of
its cold storage facility for potatoes to the local farmers in
Kanpur, Uttar Pradesh having storage capacity of 5000 metric tonnes
as on March 31, 2019. The company has inaugurated integrated cold
chain unit on January 31, 2019 that involves processing of frozen
fruits and vegetables but the operations are yet to star.

SMT. SHAKUNTLA: CARE Lowers Rating on INR148.62cr LT Loan to D
--------------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Shakuntla Educational & Welfare Society (SSEWS), as:

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long-term Bank     148.62       CARE D; Issuer Not Cooperating;
   facilities                      Revised from CARE B+; Stable;
                                   Issuer Not Cooperating

   Short term Bank     50.00       CARE D; Issuer Not Cooperating;
   Facilities                      Revised from CARE A4; Issuer
                                   Not Cooperating

Detailed Rationale & Key Rating Drivers

CARE has revised the ratings of SSEWS to CARE D; Issuer Not
Cooperating/ CARE D; Issuer Not Cooperating from CARE B+; Stable;
Issuer Not Cooperating/CARE A4; Issuer Not Cooperating based on
best available information on account of irregularities in the bank
facilities as per publicly available information.

The ratings continue to be under Issuer Not Cooperating category
pending receipt of the surveillance fee for the rating exercise
agreed to in its rating agreement with Smt. Shakuntla Educational &
Welfare Society (SSEWS), in line with the extant SEBI guidelines.
CARE has reviewed the ratings on the basis of the publicly
available information which however, in CARE's opinion is not
sufficient to arrive at a fair rating.  The ratings on SSEWS's bank
facilities will be denoted as CARE D; Issuer Not Cooperating/ CARE
D; Issuer Not Cooperating.

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

Smt. Shakuntla Educational & Welfare Society (SSEWS) was formed in
the year 1998 with the Registrar of Society under the society
registration act 1860 with the main objective of providing
education. The society is promoted by Mr. Suneel Galgotia, an
educationist from Uttar Pradesh with experience of more than three
decades in the education industry. SSEWS is currently operating two
management colleges and one engineering college in Noida (Uttar
Pradesh). Apart from these, the society is also operating one
educational university named "Galgotia University" which came into
existence after passing of Galgotias University Act in 2011 by
Government of Uttar Pradesh.

SRI VENKATESWARA: CRISIL Maintains D Rating in Not Cooperating
--------------------------------------------------------------
CRISIL said the ratings on bank facilities of Sri Venkateswara
Granites & Exports Limited (DGL) continues to be 'CRISIL D/CRISIL D
Issuer not cooperating'.

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

   Letter of Credit       2         CRISIL D (ISSUER NOT
                                    COOPERATING)

   Long Term Loan        15         CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with DGL for obtaining
information through letters and emails dated February 26, 2019 and
August 16, 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 DGL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on DGL 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 DGL continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

Incorporated in 2011, DGL is engaged in granite processing. DGL was
promoted by Mr. Ramadugu Mahender Rao, Mr. M Ramadugu Manohar Rao
and Mr. Gorukanti Naveen Kumar. DGL has commenced its commercial
operations during November, 2013.

SUMAN AGRITECH: Insolvency Resolution Process Case Summary
----------------------------------------------------------
Debtor: Suman Agritech Limited
        Room No. 4, Anna Bhuvan
        3rd Floor, 87C
        Deviji Ratansi Marg
        Dana Bunder
        Mumbai 400009

Insolvency Commencement Date: August 27, 2019

Court: National Company Law Tribunal, Indore Bench

Estimated date of closure of
insolvency resolution process: February 23, 2020
                               (180 days from commencement)

Insolvency professional: Mr. Navin Khandelwal

Interim Resolution
Professional:            Mr. Navin Khandelwal
                         206, Navneet Plaza
                         5/2 Old Palasia
                         Indore 452001
                         E-mail: navink25@yahoo.com
                                 irpsuman121@gmail.com

Last date for
submission of claims:    September 28, 2019




===============
M A L A Y S I A
===============

LONDON BISCUITS: Receives Writ of Summons from 3 Lenders
--------------------------------------------------------
The Edge Financial Daily reports that London Biscuits Bhd said it
received a writ of summons and statement of claim from Malaysian
Trustees Bhd (MTB), Alliance Bank Malaysia Bhd (ABMB) and Bangkok
Bank Bhd (BBB).

According to the report, BBB claimed a total judgement sum of
RM64.2 million under several different banking facilities
(overdraft facility, term loan 1, term loan 2, revolving loan
facility and combines trade facilities) along with continuing
interest calculated on monthly rest until the date of full
settlement.

The Edge says ABMB claimed a total judgement sum of RM7.9 million
under several different banking facilities (overdraft facility,
term loan facility, omnibus trade line facility and Visa Infinite
Business Card facility) along with continuing interest calculated
on daily rest until the date of full settlement.

MTB claimed a total of RM96.7 million together with interest which
shall accrue daily and be calculated monthly, the report adds.

The Edge says the company is currently seeking solicitor's advice
on the necessary course of action.

Based in Ulu Tiram, Malaysia, London Biscuits Berhad, together with
its subsidiaries, manufactures and trades in confectionary and
other related foodstuffs in Malaysia, Singapore, Hong Kong,
Vietnam, and internationally. It offers cake confectioneries, such
as roll cakes, pie cakes, layer cakes, and novelty shaped cakes.
The company also provides potato chips; and snack confectioneries,
such as corn snacks, jellies and puddings, and chocolate dip
biscuits under the London, Hiro, Mizu, Kinos Potato Bites, CaCa,
Sumi, NiNi, and BOBO brand names. It sells its products through
wholesale and retail channels. The company exports its products to
approximately 35 countries.

London Biscuits Bhd slipped into Practice Note 17 (PN17) status in
July 2019, following its payment default amounting to MYR9.83
million to Bank of Nova Scotia Bhd.



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

HYFLUX LTD: SIAS Seeks Update on Restructuring
----------------------------------------------
The Business Times reports that the Securities Investors
Association (Singapore) (SIAS) is seeking an update on debt-ridden
water firm Hyflux's restructuring.

In his latest media statement on Sept. 21, SIAS chief David Gerald
said the investors' rights advocacy group is "fully supportive" of
the company's request for a two-month extension to facilitate
negotiations with potential white knight Utico with a view to
finalise and execute the proposed restructuring agreement, BT
relates.

On Sept. 19, Hyflux and three of its subsidiaries applied to the
court to extend their debt moratorium by another two months until
November. The applications will be heard in court on Sept. 30, when
the previous extension expires, BT notes.

In August, Hyflux said that a definitive agreement for the rescue
deal had not been entered into with Utico, pending resolution on
"certain final outstanding issues" in the draft definitive
agreements, the report recalls.

According to the report, Utico had earlier agreed to take an 88 per
cent stake in Hyflux through a S$300 million equity injection and a
S$100 million shareholder loan.

BT relates that Mr. Gerald said on Sept. 21 that should a deal with
Utico not be reached, the further two-month extension on the
moratorium will also allow Hyflux to pursue discussions with the
other interested investors.

The creditors are still able to apply for leave to bring an end to
the debt moratorium if they are not satisfied with the progress of
negotiations, the report says. "SIAS agrees that there will be no
prejudice caused to the creditors," noted Mr. Gerald, who has
written several open letters and opinion pieces on the drama
unfolding at the former market darling, BT relays.

At a Sept. 16 meeting, Hyflux directors updated SIAS on the efforts
undertaken by the company to secure an investor, BT reports. SIAS
is "encouraged" by Hyflux's efforts in its negotiations with
potential investors and the progress achieved with Utico, Mr.
Gerald said.

During that meeting, Hyflux also informed SIAS of the reasons why
the company would not be applying for leave to convene a scheme
meeting this week as previously intended. Instead, Hyflux applied
for the two-month extension on its debt moratorium.

"SIAS did impress upon Hyflux's board to do their best to arrive at
a satisfactory resolution for Hyflux's stakeholders," Mr Gerald
said in his statement on Sept. 21, adds BT.

Shares in Hyflux have been suspended from trading since May last
year, the report notes.

                            About Hyflux

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

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

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

LIBRA GROUP: Faces Another SGD1.72MM in Claims, Iras Action
-----------------------------------------------------------
Sharanya Pillai at The Business Times reports that Libra Group is
facing another SGD1.72 million in claims from its creditors and a
lawsuit from an insurer, while owing the Inland Revenue Authority
of Singapore (Iras) SGD82,488 in unpaid taxes.

BT relates that the company previously disclosed on Sept. 18 that
it had received four letters of demand from creditors collectively
seeking about SGD9.3 million in repayments, as well as its
mortgaged property at Sungei Kadut.

In a bourse filing on Sept. 20, Libra said that the company and its
unit Cyber Builders are being sued by insurer Great American
Insurance over a claim of SGD180,000.

Separately, Libra and some of its subsidiaries have received five
letters of demand, namely, from Maybank Singapore over some
SGD800,000, P2P platform Funding Societies for over SGD450,000,
Ethoz Capital for over SGD185,000 and Rockwool Building Materials
for over SGD91,000, BT reports.

Adding to Libra's woes, Iras has appointed an agent over unpaid
taxes of over SGD82,000 due from the company's unit, Libra
Engineering, according to BT. Libra has also received a notice of
consultation from the Small Claims Tribunals over a claim by FMB
Trading and Engineering for the sum of over SGD5,500 for
laser-cutting services.

According to BT, Libra and several of its units received a letter
of set-off from HSBC in relation to the use of amounts in the
company's term deposit account towards satisfying outstanding
amounts it owed to the bank.

In another Sept. 20 filing, Libra announced that the High Court has
set a pre-trial conference for Sept. 24 over its application for a
debt moratorium, BT reports.

Libra shares have been suspended from trading. They last closed at
3.5 Singapore cents on Aug. 22, the report notes.

Libra Group Limited (SGX:5TR) is engaged in the business of
providing integrated M&E services as a sub-contractor. The
Company's services include the contracting and installation of ACMV
systems, fire alarms and fire protection systems, electrical
systems as well as sanitary and plumbing services. Libra also
manufactures and sells ACMV related products.



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

[*] BOND PRICING: For the Week Sept. 16, 2019 to Sept. 20, 2019
---------------------------------------------------------------
Issuer                   Coupon     Maturity   Currency  Price
------                   ------     --------   --------  -----


  AUSTRALIA
  ---------

CLIME CAPITAL LTD/FUND      6.25     11/30/21    AUD      1.01
KEYBRIDGE CAPITAL LTD       7.00     07/31/20    AUD      0.94
MIDWEST VANADIUM PTY LT    13.25     02/15/18    USD      0.19
MIDWEST VANADIUM PTY LT    13.25     02/15/18    USD      0.19


  CHINA
  -----

AKESU XINCHENG ASSET IN     6.40     04/20/22    CNY     60.00
AKESU XINCHENG ASSET IN     6.40     04/20/22    CNY     59.63
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
---------

HNA GROUP INTERNATIONAL     6.25     10/05/21    USD     69.36


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      0.38
DAVOMAS INTERNATIONAL F    11.00     05/09/11    USD      0.38
DAVOMAS INTERNATIONAL F    11.00     12/08/14    USD      0.38
DAVOMAS INTERNATIONAL F    11.00     12/08/14    USD      0.38


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      2.01
TKJP CORP                   0.85     03/06/19    JPY      2.01
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      1.26


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

BAYAN TELECOMMUNICATION    15.00     07/15/06    USD     22.75


SINGAPORE
---------

ASL MARINE HOLDINGS LTD     3.00     03/28/25    SGD     51.37
ASL MARINE HOLDINGS LTD     3.00     10/01/26    SGD     51.37
BAKRIE TELECOM PTE LTD     11.50     05/07/15    USD      0.42
BAKRIE TELECOM PTE LTD     11.50     05/07/15    USD      0.42
BERAU CAPITAL RESOURCES    12.50     07/08/15    USD     46.00
BERAU CAPITAL RESOURCES    12.50     07/08/15    USD     46.00
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     74.25
DEBT AND ASSET TRADING      1.00     10/10/25    USD     74.36


                           *********


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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