/raid1/www/Hosts/bankrupt/TCRAP

/raid1/www/Hosts/bankrupt/TCRAP_Public/221213.mbx T R O U B L E D C O M P A N Y R E P O R T E R A S I A P A C I F I C Tuesday, December 13, 2022, Vol. 25, No. 242 Headlines A U S T R A L I A AK COMMERCIAL: Second Creditors' Meeting Set for Dec. 19 AUSTRALIA: Insolvency Experts See Increase in Collapses in 2023 ELDERTON HOMES: Collapses Into Administration ELEKO PTY: Second Creditors' Meeting Set for Dec. 19 M & R FARMS: Second Creditors' Meeting Set for Dec. 15 NORTHSHORE CONCRETING: Second Creditors' Meeting Set for Dec. 16 PEPPER ASSET 2: Fitch Assigns 'Bsf' Rating on Class 5 Notes VERDIA PTY: Second Creditors' Meeting Set for Dec. 15 C H I N A SUNAC CHINA: Unveils Plan to Restructure US$9BB of Dollar Debt I N D I A ABS WHEELS: CRISIL Keeps D Debt Ratings in Not Cooperating ASHOKA DEVELOPERS: CRISIL Hikes Rating on INR75cr Loan to B+ CPR KEMPRODUCTS: CRISIL Moves B+ Debt Ratings to Not Cooperating DUGGAR FIBER: CRISIL Lowers Rating on INR5cr Debt to B ERODE SRI PALANI: CRISIL Moves B Debt Ratings to Not Cooperating GAURAV RICE: CRISIL Keeps B Debt Ratings in Not Cooperating GOLDEN JUBILEE: Lenders Seek Buyers for Hotel's INR652 crore Debt LEEWAY LOGISTICS: CRISIL Keeps D Debt Ratings in Not Cooperating MEETI DEVELOPERS: CRISIL Keeps B+ Debt Rating in Not Cooperating MONNET POWER: Jindal Steel Buys Power Plant Via Bankruptcy Court NAVEEN TIMBER: CRISIL Keeps D Debt Ratings in Not Cooperating OM SAI: CRISIL Keeps B+ Debt Ratings in Not Cooperating Category PATEL CONSTRUCTION: CARE Keeps B Debt Rating in Not Cooperating PAVANPUTRA SHEETGRAH: CARE Lowers Rating on INR5.65cr Loan to B- PINK CITY: CARE Keeps D Debt Rating in Not Cooperating Category PRANAV CONSTRUCTION: CRISIL Keeps D Ratings in Not Cooperating RAJARAMBAPU PATIL: CARE Keeps B- Debt Rating in Not Cooperating S. M. SHANKARRAO: CRISIL Upgrades Rating on LT Loan to B- S.KADIRVEL & COMPANY: Ind-Ra Assigns BB LT Issuer Rating SAMRAT GEMS: Ind-Ra Affirms BB- LongTerm Issuer Rating SATMAN AUTOMOBILES: CARE Lowers Rating on INR15cr Loan to D SHAKTI LIFESCIENCE: CRISIL Reaffirms B Rating on INR6.75cr Loan SHIVRAM SYNTHETICS: CARE Keeps B- Debt Rating in Not Cooperating SIVAKAME TRADING: CRISIL Reaffirms B Rating on INR6cr Term Loan SSV PHARMA: CRISIL Reaffirms B Rating on INR42cr Term Loan SUDHEER CERAMICS: CRISIL Moves B+ Debt Ratings to Not Cooperating SUPRINT SALES: CARE Lowers Rating on INR12.0cr LT Loan to B- TITANIUM EQUIPMENT: CRISIL Lowers Rating on INR5cr Loan to B UJAAS ENERGY: CRISIL Keeps D Debt Ratings in Not Cooperating UNIQUE SHIP: Ind-Ra Assigns B+ LongTerm Issuer Rating VEER BHADRA: CARE Keeps B- Debt Rating in Not Cooperating Category VIJAYA HOSPITAL: Ind-Ra Hikes LongTerm Issuer Rating to 'BB+' WTL GARMENTS: CARE Reaffirms B+ Rating on INR35.17cr LT Loan YAMUNA BIO: CRISIL Keeps B+ Debt Ratings in Not Cooperating I N D O N E S I A INDONESIA RE: Fitch Lowers Insurer Financial Strength Rating to 'B' M A L A Y S I A SEACERA GROUP: Deadline to Submit Plan Extended to April 24 N E W Z E A L A N D CORNISH TRUCK: Court to Hear Wind-Up Petition on Dec. 15 FORTUNE INT'L: Court to Hear Wind-Up Petition on Dec. 15 FRESH START: Creditors' Proofs of Debt Due on Jan. 6 FRETWELL & CO: Court to Hear Wind-Up Petition on Dec. 15 ONEWHERO EARLY: Creditors' Proofs of Debt Due on Jan. 13 S I N G A P O R E AIM LOGISTICS: First Creditors' Meeting Set for Dec. 23 AMBER GROUP: Axes Over 40% of Jobs; To End Chelsea FC Sponsorship KOCH FERTILIZER: Commences Wind-Up Proceedings MANSFIELD & COMPANY: Creditors' Proofs of Debt Due on Jan. 9 RETEP PTE: Commences Wind-Up Proceedings ROYAL GOALSON: First Creditors' Meeting Set for Dec. 23 S R I L A N K A SRI LANKA: Clears Budget, Securing Twice-Delayed IMF Bailout X X X X X X X X [*] BOND PRICING: For the Week Dec. 5, 2022 to Dec. 9, 2022 - - - - - ================= A U S T R A L I A ================= AK COMMERCIAL: Second Creditors' Meeting Set for Dec. 19 -------------------------------------------------------- A second meeting of creditors in the proceedings of: - AK Commercial Construction Pty Ltd; - AK Commercial Interiors Pty Ltd; - AK Commercial Construction (ACT) Pty Ltd; - AK Commercial Pty Limited; - AGKP Management Pty Limited; and - Tilton Group Pty Ltd has been set for Dec. 19, 2022, at 2:00 p.m. at Level 10, 60 Marcus Clarke Street in Canberra City and via virtual meeting technology. 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 Dec. 16, 2022, at 4:00 p.m. Frank Lo Pilato, Jonathon Colbran and Richard Stone of RSM Australia Partners were appointed as administrators of the company on Dec. 7, 2022. AUSTRALIA: Insolvency Experts See Increase in Collapses in 2023 --------------------------------------------------------------- The Sydney Morning Herald reports that business collapses are expected to nearly double next year as experts predict that mounting costs and climbing interest rates combined with a significant slowdown in consumer spending and a more aggressive tax office will push businesses over the edge. SMH relates that insolvency and company restructuring specialists are bracing for bigger workloads, with businesses poised to bear the brunt of a stinging financial hangover predicted to hit in the early months of 2023 as the end-of-year festivities give way to the stark reality of higher mortgage repayments and lower disposable income. "We are starting to see this already. We're expecting there to be more activity off a low base," advisory and restructuring firm McGrathNicol chairman Jason Preston told SMH, pointing to construction, manufacturing, and discretionary retail as sectors particularly under pressure. Construction and manufacturing companies are vulnerable as they often have fixed contracts that do not allow them to pass on higher input costs such as pricier building materials, heftier energy bills, higher labour costs or volatility in foreign currency exchange, according to SMH. Perth-based construction company Clough collapsed into administration earlier last week, threatening greater cost blowouts to major infrastructure projects including Snowy Hydro 2.0. In February, construction firm Probuild's parent company abruptly pulled its financial support for the Australian business, and it entered administration. During the COVID pandemic, insolvency figures dropped to very low levels - about 4,000-6,000 compared to 10,000-12,000 in a typical year - as companies were propped up by government stimulus like JobKeeper and by a supportive banking sector, SMH says. Near-zero interest rates also meant businesses didn't have to generate as much cash flow to service debts that the Australian Taxation Office was more lenient about chasing. "That's all changing now," SMH quotes Mr. Preston as saying. Interest rates are now at 10-year highs after the Reserve Bank on Tuesday lifted rates for the eighth consecutive month to 3.1 per cent. "The harder thing to predict is: is that just a gradual normalisation, and just reflecting the first economic slowdown that we've seen really in 12, 13 years?" "Or, the bigger risk - and this is an unknown at the moment - will we see a real decline in liquidity like we did in 2008 that actually starts to impact businesses that weren't particularly stressed but find themselves in a position where it's difficult to refinance?" "That's the harder one to answer. That will determine to some extent how difficult next year looks." Consumer spending categories considered non-essential, like fashion retail, are also expected to be under greater pressure next year, SMH says. Personalised accessories brand The Daily Edited is simultaneously in liquidation and administration. Fast fashion player Missguided collapsed in June, followed by luxury shoe retailer Sneakerboy the following month. SMH relates that the end of COVID restrictions also saw the collapse of a number of rapid grocery delivery services, including Quicko, Voly, Send, as well as Deliveroo Australia. "I think retail is a big question mark. It has held up very well," Mr. Preston, as cited by SMH, said. "There have been a couple of smaller retailers in that discretionary fashion space that have been suffering some stress in the last few months. So I expect we'll continue to see that more." The broader macroeconomic slowdown will precipitate the collapse of businesses already on the brink, according to Gareth Gammon, founder of Insolvency Australia, a search and comparison website of insolvency practitioners around the country, SMH relays. "There'll be a catch-up just on the existing businesses – we call it business recycling – that were probably going to get to that point anyway," SMH quotes Mr. Gammon as saying. "We're expecting to get back to pre-COVID [insolvency] levels next year." Insolvency practices are preparing for this uptick by hiring and upskilling existing staff and digitising their processes, he added. ELDERTON HOMES: Collapses Into Administration --------------------------------------------- 9News reports that a New South Wales builder has plunged into administration after catastrophic weather events, the pandemic and the rising costs of materials made business too costly to continue. Elderton Homes announced it had appointed Liam Bailey and Chris Palmer of O'Brien Palmer as administrators on Dec. 12, citing the impact of several different events. "This has been a difficult decision and a result of several factors, not limited to but including bushfires, floods, a global health pandemic and economic conditions," Elderton Homes said in a statement. "The impact of these events continue today. "Furthermore, the construction industry has also been subject to record levels of rainfall, substantial price increases on building materials, supply chain challenges and labour shortages." Elderton Homes started as a display home in the Hills District in 2009 and has since been involved in building "thousands of homes" in Sydney, the Central Coast and Illawarra. Elderton Homes' website stated it has over 50 team members. It also deals with other subcontractors and suppliers. ELEKO PTY: Second Creditors' Meeting Set for Dec. 19 ---------------------------------------------------- A second meeting of creditors in the proceedings of Eleko Pty Ltd has been set for Dec. 19, 2022, at 3:00 p.m. at the offices of Westburn Advisory at Level 5, 115 Pitt Street in Sydney. 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 Dec. 16, 2022, at 4:00 p.m. Shumit Banerjee of Westburn Advisory were appointed as administrators of the company on Nov. 14, 2022. M & R FARMS: Second Creditors' Meeting Set for Dec. 15 ------------------------------------------------------ A second meeting of creditors in the proceedings of M & R Farms Pty Ltd and RBPAC Pty Ltd has been set for Dec. 15, 2022, at 10:00 a.m. and 11:00 a.m. respectively, by teleconference. 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 Dec. 14, 2022, at 4:00 p.m. Dane Skinner and Daniel Moore of BCR Advisory were appointed as administrators of M & R Farms and RBPAC on Nov. 10, 2022. NORTHSHORE CONCRETING: Second Creditors' Meeting Set for Dec. 16 ---------------------------------------------------------------- A second meeting of creditors in the proceedings of Northshore Concreting Pty Limited has been set for Dec. 16, 2022, at 3:30 p.m. at the offices of A2Z Insolvency Solutions at Level 5, 154 Elizabeth Street in Sydney and via virtual meeting technology. 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 Dec. 15, 2022, at 5:00 p.m. Ahmad Zeidan of A2Z Insolvency Solutions was appointed as administrators of the company on Nov. 11, 2022. PEPPER ASSET 2: Fitch Assigns 'Bsf' Rating on Class 5 Notes ----------------------------------------------------------- Fitch Ratings has assigned final ratings to Pepper Asset Finance Revolver No. 2 Trust's pass-through floating-rate notes. The notes are backed by a pool of first-ranking Australian automotive and equipment lease and loan receivables originated by Pepper Asset Finance Pty Limited, a subsidiary of Pepper Money Limited. The notes were issued by BNY Trust Company of Australia Limited as trustee for Pepper Asset Finance Revolver No. 2 Trust. The expected rating analysis conducted by Fitch did not correctly model the swap notional amount in the additional scenario analysis, where the interest-rate swap can be over-hedged. Upon the correction of the model error, the final relevant model-implied ratings on the rated notes are the same as the expected ratings. Entity/Debt Rating Prior ----------- ------ ----- Pepper Asset Finance Revolver No. 2 Trust 1a LT NRsf New Rating NR(EXP)sf 1b LT NRsf New Rating NR(EXP)sf 2 LT Asf New Rating A(EXP)sf 3 LT BBBsf New Rating BBB(EXP)sf 4 AU3FN0073227 LT BBsf New Rating BB(EXP)sf 5 AU3FN0073235 LT Bsf New Rating B(EXP)sf 6 LT NRsf New Rating NR(EXP)sf SCN LT NRsf New Rating NR(EXP)sf KEY RATING DRIVERS Stress Commensurate with Ratings: Fitch has assigned base-case default expectations and 'AAAsf' default multiples for each risk tier classification. Its base-case gross-loss expectations are 2.5%, 5.5% and 11.0% for tier A, B and C, respectively. The 'AAAsf' default multiples are 6.25x, 5.50x and 4.75x. The recovery base case is 30.0%, with a 'AAAsf' recovery haircut of 50.0% across all risk grades. The transaction's eligibility criteria and portfolio parameters shaped the proxy portfolio used to drive the asset analysis. The proxy portfolio reflects the assumption that the portfolio's characteristics may migrate towards the limits during the revolving period, including limits on risk tiers, asset type and obligor size and concentration. The pool parameters limit risk for tier C to 11% of the pool and for tier B to 37%. The weighted-average base-case default assumption was 4.5% and the 'AAAsf' default multiple was 5.5x. Performance is supported by Australia's continued economic growth, with GDP growth of 5.9% for the year to September 2022, and a tight labour market that recorded an unemployment rate of 3.4% for October 2022. This is despite increasing interest rates. Fitch expects GDP growth to slow to 1.5% in 2023, with unemployment increasing to 4.2%, reflecting its weaker outlook for China and the global economy more generally, higher inflation and slightly faster policy tightening by the Reserve Bank of Australia. Structural Risks Addressed: The transaction includes a Senior Commission Note (SCN) facility to fund the purchase-price component related to the unamortised commission paid to introducers for the origination of the receivables. The note will not be collateralised, but will amortise in line with an amortisation schedule. The SCN's repayment limits the availability of excess spread to cover losses, as it ranks senior in the interest waterfall; above class 1 to 6 notes. A portion of the class 1 step-up interest and conduit cost of fund interest is subordinated below losses, and is not included in the rating assessment of each note. Non-payment of subordinated interest will not lead to an event of default, as outlined in the transaction documentation. The transaction features a two-year revolving period with the ability to extend. It is bound by amortisation triggers to protect and mitigate risk to the transaction from potential losses. Included, among other triggers, is a pool parameter trigger that ensures sufficient excess spread is available in the transaction. Counterparty risk is mitigated by documented structural mechanisms that ensure remedial action takes place should the ratings of the swap providers or transaction account bank fall below a certain level. Low Operational and Servicing Risk: All receivables were originated by Pepper Asset Finance, which demonstrated adequate capability as originator, underwriter and servicer. The originator is not rated by Fitch. Servicer disruption risk is mitigated by back-up servicing arrangements. The nominated back-up servicer is BNY. Fitch undertook an operational and file review and found that the operations of the originator and servicer were comparable with those of other auto and equipment lenders. No Residual Value Risk: There is no residual value exposure in this transaction. However, there is a small exposure to balloon-payment loans. RATING SENSITIVITIES Factors that could, individually or collectively, lead to negative rating action/downgrade: The transaction's performance may be affected by changes in market conditions and economic environment. Weakening asset performance is strongly correlated with increasing levels of delinquencies and defaults that could reduce credit enhancement available to the notes. Unanticipated increases in the frequency of defaults and loss severity on defaulted receivables could produce loss levels higher than Fitch's base case and are likely to result in a decline in credit enhancement and remaining loss-coverage levels available to the notes. Decreased credit enhancement may make certain note ratings susceptible to negative rating action, depending on the extent of the coverage decline. Hence, Fitch conducts sensitivity analysis by stressing a transaction's initial base-case assumptions. This section provides insight into the model-implied sensitivities the transaction faces when assumptions - weighted-average foreclosure frequency, weighted-average recovery rate or net sales proceeds - are modified, while holding others equal. The modelling process uses the modification of default, loss and sales proceeds assumptions to reflect asset performance in up and down environments. The results below should only be considered as one potential outcome, as the transaction is exposed to multiple dynamic risk factors. Fitch conducted sensitivity analysis by increasing gross default levels, decreasing recovery rates and decreasing net sales proceeds over the life of the transaction. Downgrade Sensitivity Rating Sensitivity to Increased Default Rates Note: 2 / 3 / 4 / 5 Rating: Asf / BBBsf / BBsf / Bsf Defaults increase 10%: A-sf / BBB-sf / BB-sf / less than Bsf Defaults increase 25%: BBB+sf / BB+sf / Bsf / less than Bsf Defaults increase 50%: BBBsf / BBsf / less than Bsf / less than Bsf Rating Sensitivity to Decreased Recovery Rates Note: 2 / 3 / 4 / 5 Rating: Asf / BBBsf / BBsf / Bsf Recoveries decrease 10%: Asf / BBB-sf / BB-sf / less than Bsf Recoveries decrease 25%: A-sf / BBB-sf / BB-sf / less than Bsf Recoveries decrease 50%: A-sf / BB+sf / B+sf / less than Bsf Rating Sensitivity to Combined Stresses Note: 2 / 3 / 4 / 5 Rating: Asf / BBBsf / BBsf / Bsf Defaults increase 10% and recoveries decrease 10%: A-sf / BBB-sf / B+sf / less than Bsf Defaults increase 25% and recoveries decrease 25%: BBBsf / BBsf / Bsf / less than Bsf Defaults increase 50% and recoveries decrease 50%: BB+sf / B+sf / less than Bsf / less than Bsf Factors that could, individually or collectively, lead to positive rating action/upgrade: Macroeconomic conditions, loan performance and credit losses that are better than Fitch's baseline scenario or sufficient build-up of credit enhancement that would fully compensate for the credit losses and cash flow stresses commensurate with higher rating scenarios, all else being equal. Rating Sensitivity to Reduced Defaults and Increased Recoveries Note: 2 / 3 / 4 / 5 Rating: Asf / BBBsf / BBsf / Bsf Defaults decrease 10%/recoveries increase 10%: A+sf / BBB+sf / BBsf / Bsf DATA ADEQUACY Fitch sought to receive a third-party assessment conducted on the asset portfolio information, but none was made available to Fitch for this transaction. Fitch reviewed a small targeted sample of the originator's origination files and found the information contained in the reviewed files to be adequately consistent with the originator's policies and practices and the other information provided to the agency about the asset portfolio. Overall, and together with any assumptions referred to above, Fitch's assessment of the information relied upon for the agency's rating analysis according to its applicable rating methodologies indicates that it is adequately reliable. ESG CONSIDERATIONS Unless otherwise disclosed in this section, the highest level of ESG credit relevance is a score of '3'. This means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. VERDIA PTY: Second Creditors' Meeting Set for Dec. 15 ----------------------------------------------------- A second meeting of creditors in the proceedings of Verdia Pty Ltd has been set for Dec. 15, 2022, at 11:00 a.m. at the offices via virtual meeting. 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 Dec. 14, 2022, at 12:00 p.m. Quentin James Olde and Liam Healey of Ankura Consulting were appointed as administrators of the company on Nov. 10, 2022. ========= C H I N A ========= SUNAC CHINA: Unveils Plan to Restructure US$9BB of Dollar Debt -------------------------------------------------------------- Bloomberg News reports that Sunac China Holdings Ltd. became one of the first major Chinese developers to unveil a debt restructuring plan, providing a potential roadmap for defaulted peers as they try to survive the nation's unprecedented real estate crisis. The company proposed to convert as much as $4 billion of its $9.1 billion in offshore debt into ordinary shares or equity-linked instruments, a Hong Kong stock exchange filing showed on Dec. 9, Bloomberg relays. The rest will be exchanged into new dollar bonds with maturities ranging from two to eight years. Interest payments won't be made in the first two years. According to Bloomberg, China's 10th-largest builder by contracted sales is still in discussions with an ad hoc group of creditors, and no definitive agreement has been reached. Such creditors control more than 30% of its existing debts, Sunac said. Sunac China Holdings Limited (SEHK:1918) -- http://www.sunac.com.cn/-- engages in the sales of properties in the People's Republic of China. The Company operates its business through two segments: Property Development and Property Management and Others. The Company's subsidiaries include Sunac Real Estate Investment Holdings Ltd., Qiwei Real Estate Investment Holdings Ltd. and Yingzi Real Estate Investment Holdings Ltd. As reported in the Troubled Company Reporter-Asia Pacific in October 2022, Moody's Investors Service has withdrawn Sunac China Holdings Limited's Ca corporate family rating and its C senior unsecured ratings. Prior to the withdrawal, the rating outlook was negative. Moody's has decided to withdraw the ratings because it believes it has insufficient or otherwise inadequate information to support the maintenance of the ratings. ========= I N D I A ========= ABS WHEELS: CRISIL Keeps D Debt Ratings in Not Cooperating ---------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of ABS Wheels Private Limited (ABS) continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Bank Guarantee 2.25 CRISIL D (Issuer Not Cooperating) Cash Credit 0.75 CRISIL D (Issuer Not Cooperating) Proposed Long Term 2.75 CRISIL D (Issuer Not Bank Loan Facility Cooperating) Term Loan 4.25 CRISIL D (Issuer Not Cooperating) CRISIL Ratings has been consistently following up with ABS for obtaining information through letters and emails dated August 29, 2022 and October 31, 2022 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 with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, CRISIL Ratings failed to receive any information on either the financial performance or strategic intent of ABS, which restricts CRISIL Ratings' ability to take a forward looking view on the entity's credit quality. CRISIL Ratings believes that rating action on ABS is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of ABS continues to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. Incorporated in July 2013 and promoted by Mr. Arshad Shaikh and his family members, ABS has a Volkswagen passenger car dealership and operates a 3S (sales-service-spares) showroom in Solapur, Maharashtra. The company is the sole authorised Volkswagen dealer for Solapur, Osmanabad, and Latur; Maharashtra. Commercial operations began from March 2014. ASHOKA DEVELOPERS: CRISIL Hikes Rating on INR75cr Loan to B+ ------------------------------------------------------------ CRISIL Ratings has upgraded its rating on the long-term bank facilities of Ashoka Developers & Builders Limited (ADBL) to 'CRISIL B+/Stable' from 'CRISIL C'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Lease Rental 75 CRISIL B+/Stable (Upgraded Discounting Loan from 'CRISIL C') Proposed Long Term 5 CRISIL B+/Stable (Upgraded Bank Loan Facility from 'CRISIL C') The rating upgrade factors in the track record of timely servicing of Lease rental deposit (LRD) loan for the past four months. The rating also factors in an escrow account with waterfall mechanism in place, wherein rentals will be routed through escrow account with precedence for debt servicing and the same will ensure availability of funds to meet debt obligation in a timely manner. Moreover, the company has Debt Service Reserve Account (DSRA) equivalent to interest and principal payments of 6 months. The debt service coverage ratio (DSCR) for its ongoing commercial project is expected to remain comfortable at more than 1.2 times over the medium term. Delays in completion and commencement in the ongoing project and occupancy rates upon commencement with remain key rating monitorables. The rating reflects vulnerability to cyclicality inherent in the real estate industry and regional / project concentration in revenues. These weaknesses are partially offset by promoters' extensive industry experience and moderate financial profile. Key Rating Drivers & Detailed Description Weakness: * Vulnerability to cyclicality inherent in the real estate industry: The real estate sector in India is cyclical and affected by volatile prices, opaque transactions, and a highly fragmented market structure. Hence, business risk profile will remain susceptible to risks arising from any industry slowdown. * Geographical concentration in revenue profile: ADBL's operations are concentrated in the micro-market of Hyderabad. This may impact revenue if there is any significant slowdown in demand or oversupply in the region and will, hence, remain a key rating sensitivity factor. That said, the Hyderabad market remains attractively priced and affordable compared to other metros, and is seeing good sale of residential units, due to buoyancy in the information technology and banking, financial services and insurance segments, which are major customers for the group Strengths: * Established regional presence in real estate development, supported by promoters' extensive industry experience: ADBL's business risk profile benefits from the extensive industry experience of its promoters in the real estate sector. The company is promoted by Mr. N Jaiveer Reddy and his family, who have an established track record of over two decades in the residential and commercial real estate segment in Hyderabad. ADBL has executed more than 20 residential and commercial real estate projects in the city. The promoters' extensive industry experience along with its established relationships with various stakeholders has enabled successful execution and sales of projects in Hyderabad. CRISIL Ratings believes that ADBL will continue to benefit from the extensive industry experience of its promoters in the real estate sector. * Average financial Risk Profile: The average Debt service coverage ratio (DSCR) is expected to be over 1.2 times for the tenure of the LRD loan. Timely commencement and occupancy post commencement will remain key monitorables. Liquidity: Stretched DSCR is expected to be modest around 1.24 time over the medium term. Rentals from 3 customers will be routed through escrow ensuring adequate liquidity will maintained for making debt obligation. The company will maintain DSRA of 3 months. Further, the company has INR10 crore in fixed deposit account and INR3 crore in DSRA) account as on 31st October2022. The liquidity also factors in the delays in debt servicing in past owing to non- timely payment by the company. Outlook Stable CRISIL Ratings believes will maintain its stable debt servicing coverage ratio (DSCR) over the medium term, backed by steady cash inflow. Rating Sensitivity factors Upward factors * Timely commencement, with healthy rentals and occupancy * Year on year DSCR sustained at more than 1.2 times post commencement Downward factors * Delays in commencement of ongoing project or large, debt-funded capital expenditure or delay in debt servicing. * Decline in DSCR to less than 1.05 time Incorporated in 1989, and promoted by Mr. Jaiveer Reddy and his family, Ashoka develops residential and commercial property in Hyderabad. ADBL also has "Ashoka One Mall" which is expected to be fully operational from Q4 of fiscal 2022. The company does not have any construction project as on date. Mr. Reddy manages the company's day-to-day operations. CPR KEMPRODUCTS: CRISIL Moves B+ Debt Ratings to Not Cooperating ---------------------------------------------------------------- CRISIL Ratings has migrated the rating on bank facilities of CPR Kemproducts India Private Limited (CPRKIPL) to 'CRISIL B+/Stable Issuer not cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 0.4 CRISIL B+/Stable (ISSUER NOT COOPERATING; Rating Migrated) Proposed Fund- 0.6 CRISIL B+/Stable (ISSUER NOT Based Bank Limits COOPERATING; Rating Migrated) CRISIL Ratings has been consistently following up with CPRKIPL for obtaining information through letters and emails dated September 30, 2022 and October 28, 2022 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 with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, CRISIL Ratings failed to receive any information on either the financial performance or strategic intent of CPRKIPL, which restricts CRISIL Ratings' ability to take a forward looking view on the entity's credit quality. CRISIL Ratings believes that rating action on CPRKIPL is consistent with 'Assessing Information Adequacy Risk'. Therefore, on account of inadequate information and lack of management cooperation, CRISIL Ratings has migrated the rating on bank facilities of CPRKIPL to 'CRISIL B+/Stable Issuer not cooperating'. Incorporated in 2004, CPRKIPL manufactures products related to specialty maintenance, water treatment, effluent treatment, and maintenance of the swimming pool and drain water. Daily operations are managed by the promoter, Mr R Lakshmi Narasimhan. The company has its manufacturing facility at Sriperumbudur, Tamil Nadu. DUGGAR FIBER: CRISIL Lowers Rating on INR5cr Debt to B ------------------------------------------------------ CRISIL Ratings has revised the rating on bank facilities of Duggar Fiber Private Limited (DFPL) to 'CRISIL B/Stable/CRISIL A4 Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Bank Guarantee 2.5 CRISIL A4 (ISSUER NOT COOPERATING; Revised from 'CRISIL A4+ ISSUER NOT COOPERATING') Cash Credit 4 CRISIL B/Stable (ISSUER NOT COOPERATING; Revised from 'CRISIL BB/Stable ISSUER NOT COOPERATING') Overdraft Facility 5 CRISIL B/Stable (ISSUER NOT COOPERATING; Revised from 'CRISIL BB/Stable ISSUER NOT COOPERATING') Proposed Long Term 4.15 CRISIL B/Stable (ISSUER NOT Bank Loan Facility COOPERATING; Revised from 'CRISIL BB/Stable ISSUER NOT COOPERATING') CRISIL Ratings has been consistently following up with DFPL for obtaining information through letters and emails dated 24th August 2022 and 15th October 2022 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 with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non-co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward-looking component.' Detailed Rationale Despite repeated attempts to engage with the management, CRISIL Ratings failed to receive any information on either the financial performance or strategic intent of DFPL, which restricts CRISIL Ratings' ability to take a forward-looking view on the entity's credit quality. CRISIL Ratings believes that rating action on DFPL is consistent with 'Assessing Information Adequacy Risk'. Therefore, on account of inadequate information and lack of management cooperation, CRISIL Ratings has revised the rating on bank facilities of DFPL to 'CRISIL B/Stable/CRISIL A4 Issuer Not Cooperating'. Incorporated in 1980 and based in Delhi, DFPL manufactures and trades in iron and steel products, such as mild steel (MS) ingots, and has capacity of 6500 tonne per annum. The company is promoted by Mr Purshottam Kumar Gupta and Mr Ashok Chauhan. ERODE SRI PALANI: CRISIL Moves B Debt Ratings to Not Cooperating ---------------------------------------------------------------- CRISIL Ratings has migrated its rating on the long-term bank facilities of Erode Sri Palani Murugan Spinning Mills Private Limited (ESPMSMPL) to 'CRISIL B/stable Issuer Not Cooperating' from 'CRISIL B/Stable'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 7.5 CRISIL B/Stable (ISSUER NOT COOPERATING; Migrated from 'CRISIL B/Stable') Long Term Loan 6.5 CRISIL B/Stable (ISSUER NOT COOPERATING; Migrated from 'CRISIL B/Stable') CRISIL Ratings has been consistently following up with ESPMSMPL for obtaining information through letters and emails dated September 30, 2022, and October 28, 2022 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 with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non-co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, CRISIL Ratings failed to receive any information on either the financial performance or strategic intent of ESPMSMPL which restricts CRISIL Ratings' ability to take a forward-looking view on the entity's credit quality. CRISIL Ratings believes that the rating action on SPAPL is consistent with 'Assessing Information Adequacy Risk' Based on best available information, CRISIL Ratings has migrated its rating on the long-term bank facilities of ESPMSMPL to 'CRISIL B/stable Issuer Not Cooperating' from 'CRISIL B/Stable'. Incorporated in 1989 and promoted by Mr M Ramakrishna Prasad, ESPMSMPL manufactures Viscose yarn is based in Erode (Tamil Nadu). GAURAV RICE: CRISIL Keeps B Debt Ratings in Not Cooperating ----------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Gaurav Rice & Food Processing Private Limited (GRFPPL) continue to be 'CRISIL B/Stable Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 7 CRISIL B/Stable (Issuer Not Cooperating) Long Term Loan 14.71 CRISIL B/Stable (Issuer Not Cooperating) CRISIL Ratings has been consistently following up with GRFPPL for obtaining information through letters and emails dated August 24, 2022 and October 15, 2022 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 with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, CRISIL Ratings failed to receive any information on either the financial performance or strategic intent of GRFPPL, which restricts CRISIL Ratings' ability to take a forward looking view on the entity's credit quality. CRISIL Ratings believes that rating action on GRFPPL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of GRFPPL continues to be 'CRISIL B/Stable Issuer Not Cooperating'. Incorporated in 2012, Gaurav Rice & Food Processing Private Limited (GRFPPL), mills non-basmati rice at its Patna-based rice mill having a capacity of 150 TPD. The operations began in September 2015 and the daily operations are looked after by its promoters cum directors Mr Sunil Kumar, Ms Renu Devi and Mr Gaurav Gupta. GOLDEN JUBILEE: Lenders Seek Buyers for Hotel's INR652 crore Debt ----------------------------------------------------------------- The Economic Times reports that lenders of the luxury Golden Jubilee Hotel are seeking buyers for their INR652 crore principal debt due to the inordinate delay in the resolution under the bankruptcy court-monitored process. The Hyderabad National Company Law Tribunal had approved a INR584 crore offer from Blackstone in February 2020, but the plan was not implemented due to land-related disputes, according to ET. Lenders have set a reserve price of INR400 crore, implying a recovery of 61% on principal dues, the report notes. Golden Jubilee Hotels Limited builds hotel properties. The company was formerly known as Golden Jubilee Estates Limited and changed its name to Golden Jubilee Hotels Limited in December 2006. The company was incorporated in 1996 and is based in Hyderabad, India. Golden Jubilee Hotels Limited operates as a subsidiary of Core Hotels Ventures Pvt Ltd. Golden Jubilee Hotels was pushed into insolvency proceedings in 2018 after it defaulted on repayments to creditors. The company has claims of about INR1,085 crore which includes operational creditors, according to The Economic Times. LEEWAY LOGISTICS: CRISIL Keeps D Debt Ratings in Not Cooperating ---------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Leeway Logistics Limited (Leeway) continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Long Term Rating - CRISIL D (ISSUER NOT COOPERATING) Short Term Rating - CRISIL D (ISSUER NOT COOPERATING) CRISIL Ratings has been consistently following up with Leeway for obtaining information through letters and emails dated August 24, 2022 and October 15, 2022 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 with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, CRISIL Ratings failed to receive any information on either the financial performance or strategic intent of Leeway, which restricts CRISIL Ratings' ability to take a forward looking view on the entity's credit quality. CRISIL Ratings believes that rating action on Leeway is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of Leeway continues to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. Leeway, established in March 2010, and headquartered in Mumbai, is an integrated logistics solutions provider of end-to-end supply chain solutions. The company also offers people-movement solutions to corporate entities. Operations are managed by a professional management team, headed by Mr Sanjay Sinha, its promoter and managing director. MEETI DEVELOPERS: CRISIL Keeps B+ Debt Rating in Not Cooperating ---------------------------------------------------------------- CRISIL Ratings said the rating on bank facilities of Meeti Developers Private Limited (MDPL) continues to be 'CRISIL B+/Stable Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Non Convertible 45 CRISIL B+/Stable (ISSUER NOT Debentures COOPERATING) CRISIL Ratings has been consistently following up with MDPL for obtaining information through letters and emails dated August 24, 2022 and October 31, 2022 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 with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, CRISIL Ratings failed to receive any information on either the financial performance or strategic intent of MDPL, which restricts CRISIL Ratings' ability to take a forward looking view on the entity's credit quality. CRISIL Ratings believes that rating action on MDPL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of MDPL continues to be 'CRISIL B+/Stable Issuer Not Cooperating'. Incorporated in 2006, MDPL, is a part of the Meeti group promoted by Mr. Paresh Bhuta and his family. MDPL is mainly engaged in undertaking residential real estate development in Mumbai. MONNET POWER: Jindal Steel Buys Power Plant Via Bankruptcy Court ---------------------------------------------------------------- The Economic Times reports that Jindal Steel & Power Limited (JSPL) on Dec. 8 said that it has acquired Monnet Power through the bankruptcy court with a winning bid of INR410 crore. JSPL beat two other bidders, including a leading ports-to-green-energy conglomerate, to acquire the under-construction power plant, said a person aware of the matter, ET relates. Debt-laden Monnet Power had been admitted to the National Company Law Tribunal under the Insolvency and Bankruptcy Code in 2017. The 1050-megawatt thermal power plant is located near the Angul steel plant of JSPL in Odisha and the power generated will be used by the company for its captive purposes. JSPL's three coal mines are also situated nearby, helping it reduce the cost of transporting coal as well as in cutting emissions, the company said. The company expects to get the plant operational within the next one year. The steelmaker is also expanding the production capacity of its Angul plant, and the new power plant will aid in this expansion, ET adds. NAVEEN TIMBER: CRISIL Keeps D Debt Ratings in Not Cooperating ------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Naveen Timber Private Limited (NTPL) continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 10 CRISIL D (Issuer Not Cooperating) Import Letter of 18 CRISIL D (Issuer Not Credit Limit Cooperating) Standby Line of 31 CRISIL D (Issuer Not Credit Cooperating) CRISIL Ratings has been consistently following up with NTPL for obtaining information through letters and emails dated August 24, 2022 and October 15, 2022 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 with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, CRISIL Ratings failed to receive any information on either the financial performance or strategic intent of NTPL, which restricts CRISIL Ratings' ability to take a forward looking view on the entity's credit quality. CRISIL Ratings believes that rating action on NTPL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of NTPL continues to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. NTPL, incorporated in 2007 by promoters, Mr Parveen Goyal and Mr Vishal Goyal, is engaged in trading and sawing of imported timber. OM SAI: CRISIL Keeps B+ Debt Ratings in Not Cooperating Category ---------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Om Sai Cotton Industries (OSCI) continue to be 'CRISIL B+/Stable Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 9 CRISIL B+/Stable (Issuer Not Cooperating) Proposed Long Term 6 CRISIL B+/Stable (Issuer Not Bank Loan Facility Cooperating) CRISIL Ratings has been consistently following up with OSCI for obtaining information through letters and emails dated August 24, 2022 and October 15, 2022 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 with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, CRISIL Ratings failed to receive any information on either the financial performance or strategic intent of OSCI, which restricts CRISIL Ratings' ability to take a forward looking view on the entity's credit quality. CRISIL Ratings believes that rating action on OSCI is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of OSCI continues to be 'CRISIL B+/Stable Issuer Not Cooperating'. OSCI was set up in 2010 as a partnership firm by Mr B Parameswar, Mr H J Reddy, Mr H V Reddy, Mrs C Aruna, and Mrs G Swathi. The firm, based in Warangal District (Telangana), gins and presses cotton. PATEL CONSTRUCTION: CARE Keeps B Debt Rating in Not Cooperating --------------------------------------------------------------- CARE Ratings said the ratings for the bank facilities of Patel Construction (Biaora) Private Limited (PCPL) continue to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 4.00 CARE B; Stable; ISSUER NOT Facilities COOPERATING; Rating continues to remain under ISSUER NOT COOPERATING category Short Term Bank 4.50 CARE A4; ISSUER NOT Facilities COOPERATING; Rating continues to remain under ISSUER NOT COOPERATING category Detailed Rationale & Key Rating Drivers CARE Ratings Ltd. had, vide its press release dated September 24, 2021, placed the rating(s) of PCPL under the 'issuer non-cooperating' category as PCPL 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. PCPL continues to be non-cooperative despite repeated requests for submission of information through e-mails, phone calls and a letter/email dated August 10, 2022, August 20, 2022, August 30, 2022. In line with the extant SEBI guidelines, CARE Ratings Ltd. has reviewed the rating on the basis of the best available information which however, in CARE Ratings Ltd.'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). Patel Construction (Biaora) Private Limited (PCBPL) initially incorporated as Dangi Construction Private Limited in March 2000 by Mr. Goverdhan Dangi, subsequently renamed as PCBPL in October 8, 2002. PCBPL is engaged in the business of civil construction business with major focus on construction of roads and bridges for government department. PAVANPUTRA SHEETGRAH: CARE Lowers Rating on INR5.65cr Loan to B- ---------------------------------------------------------------- CARE Ratings has revised the ratings on certain bank facilities of Pavanputra Sheetgrah Private Limited (PSPL), as: Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 5.65 CARE B-; Stable; ISSUER NOT Facilities COOPERATING; Rating continues to remain under ISSUER NOT COOPERATING category and Revised from CARE B; Stable Detailed Rationale & Key Rating Drivers CARE Ratings Ltd. had, vide its press release dated September 20, 2021, placed the rating(s) of PSPL under the 'issuer non-cooperating' category as PSPL 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. PSPL continues to be non-cooperative despite repeated requests for submission of information through e-mails, phone calls and a letter/email dated August 6, 2022, August 16, 2022, August 26, 2022. In line with the extant SEBI guidelines, CARE Ratings Ltd. has reviewed the rating on the basis of the best available information which however, in CARE Ratings Ltd.'s opinion is not sufficient to arrive at a fair rating. Users of this rating (including investors, lenders and the public at large) are hence requested to exercise caution while using the above rating(s). The ratings assigned to the bank facilities of PSPL have been revised on account of non-availability of requisite information. The rating also considers a leverage capital structure on account of high overall debt vis-à-vis low new worth in FY22. Hathras, Uttar Pradesh based Pavanputra Sheetgrah Private Limited (PSPL) was incorporated in January, 2015 and started its commercial operations in February, 2016. The company is currently managed by Mr. Arvind Kumar, Mr. Anupam Kumar, Mr. Ashok Kumar, Mrs. Lata Singh and Mr. Sudhir Kumar. The company is engaged in renting of its cold storage facility for potatoes and vegetable. Bajrang Sheetgrah Private Limited is an associate concern incorporated in 2006 engaged in the same line of business. PINK CITY: CARE Keeps D Debt Rating in Not Cooperating Category --------------------------------------------------------------- CARE Ratings said the rating for the bank facilities of Pink City Expressway Private Limited (PCEPL) continues to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 1,790.55 CARE D; ISSUER NOT COOPERATING Facilities Rating continues to remain under ISSUER NOT COOPERATING category Detailed Rationale & Key Rating Drivers CARE Ratings Ltd. had, vide its press release dated September 17, 2021, placed the rating(s) of PCEPL under the 'issuer non-cooperating' category as PCEPL 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. PCEPL continues to be non-cooperative despite repeated requests for submission of information through e-mails, phone calls and a letter/email dated August 3, 2022, August 13, 2022, August 23, 2022. In line with the extant SEBI guidelines, CARE Ratings Ltd. has reviewed the rating on the basis of the best available information which however, in CARE Ratings Ltd.'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). Pink City Expressway Private Limited (PCEPL) is an SPV formed by ETA Group of Dubai and KMC Group of Hyderabad (51:49 JV). IKSHU Infrastructure Pvt Ltd was inducted in FY13 with 13% stake dilution by each of the sponsors. The company was incorporated on April 2, 2008 to undertake the improvement, operation and maintenance including strengthening and widening of the existing 4-lane road to 6-lane highway with service lane on either side from 42.7 km to 273 km (a length of 225.6 km) in states of Haryana and Rajasthan on NH-8 (Gurgaon-Kotputli-Jaipur Section) on BOT basis. CARE does not have any update on the latest developments in this regard. PRANAV CONSTRUCTION: CRISIL Keeps D Ratings in Not Cooperating -------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Pranav Construction Systems Private Limited (PCSPL) continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Long Term Rating - CRISIL D (ISSUER NOT COOPERATING) Short Term Rating - CRISIL D (ISSUER NOT COOPERATING) CRISIL Ratings has been consistently following up with PCSPL for obtaining information through letters and emails dated August 24, 2022 and October 15, 2022 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 with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, CRISIL Ratings failed to receive any information on either the financial performance or strategic intent of PCSPL, which restricts CRISIL Ratings' ability to take a forward looking view on the entity's credit quality. CRISIL Ratings believes that rating action on PCSPL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of PCSPL continues to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. Incorporated in 2003, PCSPL provides formwork, false work and scaffolding which find application in construction/infrastructure sector. The company has been set up by Mr. Sushil Sahani and its manufacturing facilities are located at Kopar-Khairane and Badlapur (both in Maharashtra). RAJARAMBAPU PATIL: CARE Keeps B- Debt Rating in Not Cooperating --------------------------------------------------------------- CARE Ratings said the rating for the bank facilities of Rajarambapu Patil Sahakari Sakhar Karkhana Limited (RPSSKL) continues to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 500.00 CARE B-; ISSUER NOT COOPERATING Facilities Rating continues to remain under ISSUER NOT COOPERATING category Detailed Rationale & Key Rating Drivers CARE Ratings Ltd. had, vide its press release dated September 13, 2021, placed the rating(s) of RPSSKL under the 'issuer non-cooperating' category as RPSSKL 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. RPSSKL continues to be non-cooperative despite repeated requests for submission of information through e-mails, phone calls and a letter/email dated July 30, 2022, August 9, 2022, August 19, 2022. In line with the extant SEBI guidelines, CARE Ratings Ltd. has reviewed the rating on the basis of the best available information which however, in CARE Ratings Ltd.'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). RPSSKL was incorporated by Late Rajarambapu Patil in 1968 under 'The Maharashtra Co-operative Societies Act 1960' as 'Walwa Taluka Sahakari Sakhar Karkhana Limited' to undertake sugar production in Sangli (Maharashtra). The name was subsequently changed to Rajarambapu Patil Sahakari Sakhar Karkhana Limited. RPSSKL is a part of the Sangli based 'Rajarambapu Group' whose diversified business profile comprises operations in sugar production, distillery, power generation, co-operative bank (Rajarambapu Sahakari Bank Limited), co-operative spinning mills, milk federation, soya bean extraction plant, educational institutes and petrol pumps. S. M. SHANKARRAO: CRISIL Upgrades Rating on LT Loan to B- --------------------------------------------------------- CRISIL Ratings has upgraded its ratings on the bank facilities of S. M. Shankarrao Mohite Patil S. S. K. Ltd (SM) to 'CRISIL B-/Stable' from 'CRISIL C', while reaffirming the short-term rating at 'CRISIL A4'. The rating action reflects SM's track record of timely servicing of debt obligations for over 90 days ending October 2022. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Long Term Rating - CRISIL B-/Stable (Upgraded from 'CRISIL C ') Short Term Rating - CRISIL A4 (Reaffirmed) The ratings continue to reflect the weak financial risk profile, large working capital requirement, and exposure to regulatory risks and cyclicality in the sugar industry. These weaknesses are partially offset by promoter's extensive experience in the sugar industry. Key Rating Drivers & Detailed Description Weaknesses: * Weak financial risk profile: The capital structure is weak as reflected in gearing and total outside liabilities to adjusted net worth (TOL/ANW) of 8.39 times and 12.54 times respectively as on March 31, 2022. Debt protection metrics is subdued marked by interest coverage of 1.22 times and net cash accruals to total debt of 0.04 times in fiscal 2022. Going forward, financial risk profile is expected to remain at similar levels over the medium term due to high reliance on outside borrowings. * Large working capital requirement: Operations are working capital intensive as the business is seasonal, gross current asset has been around 224 days as on March 31st, 2022. Crushing season starts in November-December and ends by April. The inventory is typically high at over 190 days at the end of the fiscal, because of stocking of sugar produced during the season to be sold the next year. The operations are expected to continue to remain working capital intensive over the medium term. * Exposure to regulatory changes and cyclicality in sugar industry: Regulatory mechanisms and dependence on monsoon cause cyclicality in the sugar industry. The sugar industry in India is regulated by several government policies, including sugarcane prices, export and import of sugar and the sugar release mechanism. These regulations constrain the credit quality of players in the industry. Strengths: * Promoter's extensive experience in sugar industry: The promoters' extensive experience of more than 50 years in the sugar industry has enabled deep understanding of market dynamics and established relationships with cane producers in its command area. The management has also diversified its operations into production of electricity using bagasse, and distillery for ethanol which further supports the business risk profile. Liquidity: Poor SM has poor liquidity marked by insufficient accruals of around INR15-16 crores against its term debt obligations of INR28-32 crores over fiscal 2023 and 2024. The company is dependent on bank borrowings and utilization of fund-based facilities for repayment of debt obligations. The firm has access to fund-based limits of INR334.39 crores, which are utilized around 33% over the 7 months ended October 2022. Need based promoter funding provides cushion to liquidity. Outlook Stable CRISIL Ratings believes MMINTL will continue to benefit from the extensive experience of its promoters in the sugar industry. Rating Sensitivity factors Upward Factors * Improvement in net cash accruals resulting in improving the cushion against repayment obligation to 1 time * Improvement of financial risk profile and improved working capital cycle leading to better liquidity position Downward Factors * Sharp decline in revenue or operating margin leading to lower than expected net cash accruals thus deteriorating the liquidity * Stretch in working capital cycle or higher than expected debt funded capex resulting to weakening of financial risk profile with interest coverage below 1 time SM set up in 1960 by the late Mr. Shankarrao Mohite-Patil. The society operates a manufacturing sugar factory at Akluj in Solapur (Maharashtra) with a cane crushing capacity of 7200 TCD and a co-gen plant of 30MW. The company is managed by Mr. Jaysinh Mohite-Patil and Mr. Vijaysinh Mohite-Patil. S.KADIRVEL & COMPANY: Ind-Ra Assigns BB LT Issuer Rating -------------------------------------------------------- India Ratings and Research (Ind-Ra) has assigned S.Kadirvel & Company (SKC) a Long-Term Issuer Rating of 'IND BB'. The Outlook is Stable. The instrument-wise rating actions are: -- INR130 mil. Fund-based working capital limits assigned with IND BB/Stable/IND A4+ rating; -- INR80 mil. Bank guarantee assigned with IND A4+ rating; and -- INR31 mil. Term loan due on December 2026 assigned with IND BB /Stable rating. Key Rating Drivers The ratings reflect SKC' medium scale of operations as indicated by a revenue of INR333 million in FY22 (FY21: INR596.21 million). In FY22, the revenue declined yoy due to a change in the government in Tamil Nadu, which led to a halt of projects. During 1HFY23, SKC booked a revenue of INR290 million. At end-October 2022, the company had an order book worth INR923 million, providing revenue visibility of 2.8x, to be executed by June 2023. Ind-Ra expects the company's revenue to increase to INR650 million in FY23 due to the resumption of construction projects by the new government. SKC's payment cycle and thus its revenue gets affected every four years due to the change in the Tamil Nadu government. The ratings also factor in the SKC's modest EBITDA margin even as it improved to 12.37% in FY22 (FY21: 11.23%) due to a reduction in the material cost. The return on capital employed was 11.7% (22.5%). In FY23, Ind-Ra expects the EBITDA margin to remain at similar level due to the similar nature of orders executed. The ratings also reflect SKC's moderate credit metrics with an interest coverage (operating EBITDA/gross interest expenses) of 2.25x in FY22 (FY21: 2.61x) and a net leverage (adjusted net debt/operating EBITDAR) of 4.74x (2.48x). In FY22, the credit metrics deteriorated due to an increase in the debt levels and interest obligations. In FY23, Ind-Ra expects the credit metrics to improve yoy due to the repayment of loans. Liquidity Indicator - Poor: SKC's maximum utilization of its fund-based limits was 100.62% and that of its non-fund-based limits was 52.50% during the 12 months ended October 2022. The cash flow from operations fell to INR9.68 million in FY22 (FY21: INR32.30 million) due the government's erratic payment schedule. Furthermore, the free cash flow stood at INR8.69 million (FY21: INR26.33 million). The net working capital cycle improved to 69 days in FY22 (FY21: negative 42 days) due to an increase in the debtor days. The cash and cash equivalents stood at INR0.56 million at FYE22 (FYE21: INR0.66 million). The debt repayment in INR10.7 million in FY23 and INR6.5 million in FY24. Furthermore, SKC does not have any capital market exposure and relies on banks and financial institutions to meet its funding requirements. However, the ratings are supported by the promoters' nearly two decades of experience in the construction industry. This has facilitated the company to establish strong relationships with customers as well as suppliers. Rating Sensitivities Positive: An improvement in the scale of operations, profitability and liquidity with the interest coverage increasing above 2.5x on a sustained basis will be positive for the ratings. Negative: Deterioration in the scale of operations, liquidity and credit metrics will be negative for the ratings. Company Profile Based in Coimbatore, SKC engages with the government to build houses, beautification of lake, installing light poles for the Public Works Department and housing board of Tamil Nadu government. SAMRAT GEMS: Ind-Ra Affirms BB- LongTerm Issuer Rating ------------------------------------------------------ India Ratings and Research (Ind-Ra) has affirmed Samrat Gems Impex Pvt Ltd.'s (SMGIPL) Long-Term Issuer Rating at 'IND BB-'. The Outlook is Stable. The instrument-wise rating actions are -- INR379.50 mil. (increased from INR299.5 mil.) Fund-based working capital limits affirmed with IND BB-/Stable/IND A4+ rating; and -- INR110.00 mil. (increased from INR70.00 mil.) Non-fund-based working capital limits affirmed with IND A4+ rating. Key Rating Drivers The affirmation reflects SGIPL's continued moderate credit metrics with its gross interest coverage (operating EBITDA/gross interest expense) reducing to 1.35x in FY22 (FY21: 1.38x) due to increased finance expenses. The net financial leverage (adjusted net debt/operating EBITDA), however, improved to 10.61x in FY22 (FY21: 17.05x) due to an increase in the absolute EBITDA. In FY23, Ind-Ra expects the credit metrics to remain at similar levels due to the similar level of operations and margins. The ratings also reflect SGIPL's continued medium scale of operations, despite an improvement in the revenue to INR1,313.21 million in FY22 (FY21: INR999.64 million) due to an improved execution of orders as the industry recovered after COVID-19 lockdowns. During 6MFY23, SGIPL achieved a revenue of INR556.9 million. In FY23, Ind-Ra expects the revenue to improve due to repeated orders from the existing customers and the addition of new customers. The ratings also reflect SGIPL's continued modest EBITDA margin even as it improved to 3.79% in FY22 (FY21: 2.99%) due to the sourcing of raw material at competitive prices and the cost cutting measures by the company. The return on capital employed improved to 6.3% in FY22 (FY21: 3.9%). In FY23, Ind-Ra expects the EBITDA margin to improve slightly yoy due to the cost cutting measures taken by company. Liquidity Indicator – Stretched: SGIPL's average maximum utilization of its fund-based limits was 96.38% and that of its non-fund-based limits was 93.21% during the 12 months ended October 2022 with an instance of overutilization of up to two days. SGIPL has repayments of INR41.09 million in FY23 and INR45.24 million in FY24. The cash flow from operations improved to negative INR86.48 million in FY22 (FY21: negative INR336.69 million) due to favorable changes in the working capital. The net working capital cycle remained elongated at 161 days in FY22 (FY21: 189 days) due to a reduction in the debtor days to 90 (129). The cash and cash equivalents stood at INR8.00 million at FYE22 (FYE21: INR5.3 million). However, SGIPL does not have any capital market exposure and relies on banks and financial institutions to meet its funding requirements. The ratings, however, continue to benefit from the founders' three decades of experience in manufacturing ready-made apparels for men, women and kids, and a strong customer base of international clients such as Inditex Group (brand – Pull & Bear), Fallabella SA, among others, and domestic clients such as Arvind Lifestyle Brands Limited, Morarjee Textile, among others. Rating Sensitivities Positive: An improvement in the scale of operations, leading to improved liquidity and the net leverage improving below 3.9x, on a sustained basis, will be positive for the ratings. Negative: A decline in the scale of operations and liquidity, leading to deterioration in the credit metrics, on a sustained basis, will be negative for the ratings. Company Profile SGIPL manufactures readymade garments and exports them primarily to garment retailers in Europe, the US and South Africa. The company was incorporated in 1984 and is promoted by Shyamlal Sharma and his son Rajiv Sharma. SATMAN AUTOMOBILES: CARE Lowers Rating on INR15cr Loan to D ----------------------------------------------------------- CARE Ratings has revised the ratings on certain bank facilities of Satman Automobiles Private Limited (SAPL), as: Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 15.00 CARE D; ISSUER NOT COOPERATING Facilities Rating continues to remain under ISSUER NOT COOPERATING category and Revised from CARE B-; Stable Detailed Rationale & Key Rating Drivers CARE Ratings Ltd. had, vide its press release dated September 22, 2021, placed the rating(s) of SAPL under the 'issuer non-cooperating' category as SAPL 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. SAPL continues to be non-cooperative despite repeated requests for submission of information through e-mails, phone calls and a letter/email dated August 8, 2022, August 18, 2022, August 28, 2022 and December 2, 2022. In line with the extant SEBI guidelines, CARE Ratings Ltd. has reviewed the rating on the basis of the best available information which however, in CARE Ratings Ltd.'s opinion is not sufficient to arrive at a fair rating. Users of this rating (including investors, lenders and the public at large) are hence requested to exercise caution while using the above rating(s). The ratings have been revised on account of ongoing delays in debt servicing as recognized from publicly available information i.e. CIBIL filings. SAPL was incorporated in 2012 by Ms. Meghna Haren Choksey and Mr. Konark Nanda. The company is currently being managed by Ms. Meghna Haren Choksey, Mr. Konark Nanda and Mr. Kunal Ramchandani. It is engaged in the business of automobile dealership 3S (sales, service and spares). SAPL is an authorized dealer of Skoda Auto India Private Limited (SAIPL) vehicles. The company was appointed dealer for sales and service of passenger vehicles for SAIPL in 2012 and commenced operations with single showroom in June 2012. The showroom has attached workshop facility for the post sales services of cars at Okhla, New Delhi. SHAKTI LIFESCIENCE: CRISIL Reaffirms B Rating on INR6.75cr Loan --------------------------------------------------------------- CRISIL Ratings has reaffirmed its 'CRISIL B/Stable' rating on the long-term bank facilities of Shakti Lifescience Pvt Ltd (SLPL). Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 1.90 CRISIL B/Stable (Reaffirmed) Term Loan 6.75 CRISIL B/Stable (Reaffirmed) The rating continues to reflect the initial stage of operations and below-average financial risk profile of SLPL. These weaknesses are partially offset by the extensive experience of the promoters in the bulk drugs industry and their funding support. Revenue grew to INR10.38 crore in fiscal 2022 from INR3.10 crore in the previous fiscal. Nonetheless, the company continued to incur losses amidst its initial phase of operations. Revenue is likely to double in fiscal 2023, backed by ramping up operations; improvement in profitability remains a key monitorable. Analytical Approach Unsecured loans (INR19.46 crore as on March 31, 2022) extended by the promoters have been treated as neither debt nor equity as the funds are likely to remain in the business. Key Rating Drivers & Detailed Description Weaknesses: * Initial stage and modest scale of operations Though SLPL commenced commercial operations in December 2018, it was largely in the product development, testing and approval stage. Sales started only in fiscal 2022 and thus, revenue was low at INR10.38 crore in the fiscal. Revenue may be boosted going forward as commercial sales have ramped up. Further, the company incurred operating and net level losses till 2022 due to higher fixed costs, other costs and low revenue. Improvement in profitability shall be monitored over the medium term. * Below-average financial risk profile: Financial risk profile continues to be remained below-average. Networth was negative INR0.30 crore as on March 31, 2022, and gearing negative 2.04 times. Debt protection metrics were subdued owing to losses incurred in the past. However, financial risk profile is partly supported by the timely, need-based funds extended by the promoters. Strengths: * Extensive experience of the promoters The promoters have experience of two decades in the bulk drugs industry; their strong understanding of market dynamics and healthy relationships with suppliers and customers should continue to support the business. The promoters are also likely to keep extending timely, need-based funds to aid operations. Liquidity: Stretched Liquidity is stretched, marked by expected modest cash accruals tightly matched against repayment obligations. Bank limit utilisation was 81% during December 2021 to September 2022. Liquidity is partially supported by the need-based funds extended by the promoters and the guaranteed emergency credit line of INR1.10 crore. Current ratio was healthy at 2.63 times on March 31, 2022. The promoters are likely to extend fund support in the form of equity and unsecured loans to meet its working capital requirements and repayment obligations. Outlook Stable SLPL should continue to benefit from the extensive experience of its promoters. Rating Sensitivity factors Upward factors * Substantial and sustainable increase in revenue and profitability, resulting in cash accrual to repayment obligation ratio more than 1.2 times * Significant and sustained improvement in the financial risk profile Downward factors * Higher-than-expected losses, resulting in continued suppressed cash accrual * Weakening of financial risk profile (interest coverage ratio less than 1 time on continued basis) and liquidity SLPL was set up in 2015 as a partnership between Mr Dahyabhai Patel, Mr Babubhai Patel, Mr Milind Patel, Mr Jignesh Amin and Mr Bhavin Shah. This Boisar (Maharashtra)-based firm manufactures active pharmaceutical ingredients; it commenced commercial operations from December 2018. Firm was converted into Pvt company from Dec 2021. are the promoters. SHIVRAM SYNTHETICS: CARE Keeps B- Debt Rating in Not Cooperating ---------------------------------------------------------------- CARE Ratings said the rating for the bank facilities of Shivram Synthetics Private Limited (SSPL) continues to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 10.00 CARE B-; Stable; ISSUER NOT Facilities COOPERATING; Rating continues to remain under ISSUER NOT COOPERATING category Detailed Rationale & Key Rating Drivers CARE Ratings Ltd. had, vide its press release dated September 20, 2021, placed the rating(s) of SSPL under the 'issuer non-cooperating' category as SSPL 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. SSPL continues to be non-cooperative despite repeated requests for submission of information through e-mails, phone calls and a letter/email dated August 6, 2022, August 16, 2022, August 26, 2022. In line with the extant SEBI guidelines, CARE Ratings Ltd. has reviewed the rating on the basis of the best available information which however, in CARE Ratings Ltd.'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). Bhilwara (Rajasthan) based Shivram Synthetics Private Limited (SSPL) was initially formed by Mr. Manoj Kumar Chandak and Mr. Navneet Mehta in 2008. Subsequently, there are changes in the promoters and in 2014, Mr. Prashant Surolia and Mr Pradeep Surolia took over the directorship of the company and assumed its current name. SSPL is engaged in the business of manufacturing of grey fabrics and trading of finished fabrics as well. The company outsources the processing work required for the manufacturing of finished fabrics. SIVAKAME TRADING: CRISIL Reaffirms B Rating on INR6cr Term Loan --------------------------------------------------------------- CRISIL Ratings has reaffirmed its ratings on the bank facilities of Sivakame Trading Company (STC) at 'CRISIL B/Stable'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 6 CRISIL B/Stable (Reaffirmed) Cash Term Loan 1 CRISIL B/Stable (Reaffirmed) The rating continues to reflect small scale of operations, exposure to competition and below-average financial risk profile. These weaknesses are partially offset by the extensive experience of the partners. Key Rating Drivers & Detailed Description Weaknesses: * Small scale of operations and exposure to competition: Scale of operations is moderate as reflected in revenue of INR29.60 crore, in fiscal 2022. Revenue had declined in fiscal 2021 on account of COVID induced lock down and its impact on business. The firm also operates in the highly competitive agro-commodities industry, which is marked by numerous organized and unorganized players leading to intense competition. * Below-average financial risk profile: The financial risk profile is below-average, marked by modest networth and total outside liabilities to tangible networth of INR0.81 crore and 14.04 times, as on 31 March 2022. The debt protection metrics are average marked by an interest cover of 2.48 times in fiscal 2022. Financial risk profile is expected to be at similar levels in near term. Strength: * Extensive experience of partners: The promoter, Mr. Govindaraja Perumal has an experience of more than three decades in the agro-commodities industry. This should continue to benefit STC over the medium term. Liquidity Stretched Bank limit utilisation is high at around 92 percent for the past 12 months ended 31st August 2022. The accruals are estimated in range of 0.3 -0.4 Crores in coming fiscals sufficient against the debt obligation of 0.2-0.3 Cr. Current ratio stands at 1.06 times as on March 31, 2022. Outlook Stable CRISIL Ratings believes that STC will maintain its credit profile marked by the promoter's experience in the agro-commodities business. Rating Sensitivity factors Upward factor * Sustained increase in scale of operations and profitability TOLTNW of less than 5 times Downward factors * Net cash accrual to repayment of less than 1 time * Large decline in scale of operations and profitability STC is a partnership firm established in 1986 by Mr. Govindaraja Perumal in Virudhunagar. It is an importer of green peas and pulses from countries such as USA, Canada and Ukraine. It is involved in the wholesale of these commodities. SSV PHARMA: CRISIL Reaffirms B Rating on INR42cr Term Loan ---------------------------------------------------------- CRISIL Ratings has reaffirmed its ratings on the bank facilities of SSV Pharma Private Limited (SSVPPL) at 'CRISIL B/Stable'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 6 CRISIL B/Stable (Reaffirmed) Term Loan 42 CRISIL B/Stable (Reaffirmed) The rating reflect SSVPPL's exposure to off take related risk, susceptibility to fluctuations in raw material prices, intense competition, and regulatory risks and leveraged capital structure. These weaknesses are partially offset by its extensive industry experience of the promoters. Key Rating Drivers & Detailed Description. Weakness: * Exposure to off take related risk: SSVPPL is commences its operation in April 2021. Demand risk is also expected to be moderate as the industry is highly fragmented marked by low entry barriers with small capital and technological requirements. Also, will be exposed to intense competition from other players in the segment.The project has timely completed however successful stabilization of its operations at the unit will remain a key rating sensitivity factor. * Susceptibility to fluctuations in raw material prices, intense competition, and regulatory risks: The bulk drugs industry is highly competitive due to presence of numerous domestic as well as global players, which exerts pricing pressure on individual entities. This necessitates the company to remain cost competitive to maintain profitability. * Leveraged capital structure: SSVPPL has an average financial risk profile with high gearing and moderate debt protection metrics. The project is aggressively funded Strengths: * Extensive industry experience of the promoters: The promoters have an experience of more than 20 years in real estate, infrastructure, ginning & spinning industry. This has given them an understanding of the dynamics of the market and enabled them to establish relationships with suppliers and customers Liquidity: Stretched Liquidity is stretched marked by cash accruals almost equivalent to the repayment obligations. However, Bank limit utilization is low at around 55% for the past twelve months ended October 2022. The promoters shall infuse need based unsecured loan as and when required to meet its working capital requirements and repayment obligations. Current ratio is comfortable at 1.75 times on March 31, 2022. Outlook Stable CRISIL Ratings believe SSVPPL will continue to benefit from the extensive experience of its promoter, and established relationships with clients. Rating Sensitivity factors Upward factor * Significant increase in revenue by around 25-30% and sustainable improvement in cash accruals. * Significant improvement in the financial risk profile of the company Downward factor * Steep decline in revenue or profitability leading to cash accrual lower than INR1 crore * Sizeable stretch in the working capital cycle or large, debt-funded capital expenditure weakening the financial risk profile SSVPPL was incorporated in year 2016. SSVPPL has recently set a plant to manufacture bulk drug intermediaries in Visakhapatnam- Andhra Pradesh. The company commence its commercial operation from April 2021. SSVPPL is owned & managed by Mr. Venkateswara Rao, Mrs. Subhashini, Mr. Sai Phanendra, Mr. Srinivasa Rao Talluri & Sridevi Talluri. SUDHEER CERAMICS: CRISIL Moves B+ Debt Ratings to Not Cooperating ----------------------------------------------------------------- CRISIL Ratings has migrated the rating on bank facilities of Sree Sudheer Ceramics Private Limited (MCPL) to 'CRISIL B+/Stable Issuer not cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 15 CRISIL B+/Stable (ISSUER NOT COOPERATING; Rating Migrated) Long Term Loan 1.5 CRISIL B+/Stable (ISSUER NOT COOPERATING; Rating Migrated) Long Term Loan 13.2 CRISIL B+/Stable (ISSUER NOT COOPERATING; Rating Migrated) Long Term Loan 17 CRISIL B+/Stable (ISSUER NOT COOPERATING; Rating Migrated) Long Term Loan 7.95 CRISIL B+/Stable (ISSUER NOT COOPERATING; Rating Migrated) Long Term Loan 17.93 CRISIL B+/Stable (ISSUER NOT COOPERATING; Rating Migrated) Long Term Loan 7.16 CRISIL B+/Stable (ISSUER NOT COOPERATING; Rating Migrated) CRISIL Ratings has been consistently following up with MCPL for obtaining information through letters and emails dated November 11, 2022 and November 16, 2022 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 with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, CRISIL Ratings failed to receive any information on either the financial performance or strategic intent of MCPL, which restricts CRISIL Ratings' ability to take a forward looking view on the entity's credit quality. CRISIL Ratings believes that rating action on MCPL is consistent with 'Assessing Information Adequacy Risk'. Therefore, on account of inadequate information and lack of management cooperation, CRISIL Ratings has migrated the rating on bank facilities of MCPL to 'CRISIL B+/Stable Issuer not cooperating'. MCPL was incorporated in 2017. It is engaged in manufacturing of ceramic tiles. It is promoted by Mr. NVV Seshagiri Rao and family. SUPRINT SALES: CARE Lowers Rating on INR12.0cr LT Loan to B- ------------------------------------------------------------ CARE Ratings has revised the ratings on certain bank facilities of Suprint Sales (SS), as: Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 12.00 CARE B-; Stable; ISSUER NOT Facilities COOPERATING; Rating continues to remain under ISSUER NOT COOPERATING category and Revised from CARE B; Stable Detailed Rationale & Key Rating Drivers CARE Ratings Ltd. had, vide its press release dated November 29, 2021, placed the rating(s) of SS under the 'issuer non-cooperating' category as SS 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. SS continues to be non-cooperative despite repeated requests for submission of information through e-mails, phone calls and a letter/email dated October 15, 2022, October 25, 2022, November 29, 2022. In line with the extant SEBI guidelines, CARE Ratings Ltd. has reviewed the rating on the basis of the best available information which however, in CARE Ratings Ltd.'s opinion is not sufficient to arrive at a fair rating. Users of this rating (including investors, lenders and the public at large) are hence requested to exercise caution while using the above rating(s). The ratings assigned to the bank facilities to SS have been revised on account of non-availability of requisite information. SS was formed in 2003 as a partnership concern by Mr Jasmeet Sodhi, Mr. Harinder Singh Sodhi, Mrs. Raj Sodhi, Mrs. Anita Sodhi and Mr. Pavnet Sodhi. However, the partnership of the firm has changed in April 2007 and current partners are Mr. Jasmeet Sodhi and Mrs. Anita Sodhi. Sodhi family has also promoted STJPL in 2000. SS and STJPL are engaged in manufacturing of made-ups primarily home furnishing items like bed linen, kitchen and table linen etc. TITANIUM EQUIPMENT: CRISIL Lowers Rating on INR5cr Loan to B ------------------------------------------------------------ CRISIL Ratings has revised the ratings on bank facilities of Titanium Equipment and Anode Manufacturing Company Limited (TEAM) to 'CRISIL B/Stable/CRISIL A4 Issuer Not Cooperating' from 'CRISIL BB+/Stable/CRISIL A4+ Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Bank Guarantee 20 CRISIL A4 (ISSUER NOT COOPERATING; Revised from 'CRISIL A4+ ISSUER NOT COOPERATING') Cash Credit 5 CRISIL B/Stable (ISSUER NOT COOPERATING; Revised from 'CRISIL BB+/Stable ISSUER NOT COOPERATING') Inland/Import 5 CRISIL A4 (ISSUER NOT Letter of Credit COOPERATING; Revised from 'CRISIL A4+ ISSUER NOT COOPERATING') CRISIL Ratings has been consistently following up with TEAM for obtaining information through letters and emails dated August 29, 2022 and October 31, 2022 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 with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, CRISIL Ratings failed to receive any information on either the financial performance or strategic intent of TEAM, which restricts CRISIL Ratings' ability to take a forward looking view on the entity's credit quality. CRISIL Ratings believes that rating action on TEAM is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of TEAM revised to 'CRISIL B/Stable/CRISIL A4 Issuer Not Cooperating' from 'CRISIL BB+/Stable/CRISIL A4+ Issuer Not Cooperating'. TEAM, incorporated in 1977, generates most of its revenue from design and fabrication of engineering equipment such as heat exchangers and pressure vessels. Its other business segments are ultra-filtration, and water purification and distribution. The company is based in Chennai and its operations are managed by Mr. Suresh Krishnamurthi Rao. UJAAS ENERGY: CRISIL Keeps D Debt Ratings in Not Cooperating ------------------------------------------------------------ CRISIL Ratings said the ratings on bank facilities of Ujaas Energy Limited (UEL) continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Long Term Rating - CRISIL D (ISSUER NOT COOPERATING) Short Term Rating - CRISIL D (ISSUER NOT COOPERATING) CRISIL Ratings has been consistently following up with UEL for obtaining information through letters and emails dated August 24, 2022 and October 31, 2022 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 with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, CRISIL Ratings failed to receive any information on either the financial performance or strategic intent of UEL, which restricts CRISIL Ratings' ability to take a forward looking view on the entity's credit quality. CRISIL Ratings believes that rating action on UEL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of UEL continues to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. UEL, formerly M and B Switchgears Pvt Ltd, was incorporated in 1979. The company is engaged in the sale of solar power and setting up solar projects across three segments: engineering procurement and construction, solar park, and rooftop. It also provides operations and maintenance services for these assets. The company has an installed capacity of 14 megawatt (MW) of solar power; over the years, it has set up more than 235 MW of solar power plants. UEL has also recently ventured into the electric two-wheeler industry by launching E-Spa. Mr Shyam Sunder Mundra is the promoter, and operations are managed by his sons, Mr Vikalp Mundra and Mr Anurag Mundra. UNIQUE SHIP: Ind-Ra Assigns B+ LongTerm Issuer Rating ----------------------------------------------------- India Ratings and Research (Ind-Ra) has assigned Unique Ship Breaking Corporation (USBC) a Long-Term Issuer Rating of 'IND B+'. The Outlook is Stable. The instrument-wise rating action is: -- INR450 mil. Non-fund based working capital limits assigned with IND A4 rating. Key Rating Drivers The ratings reflect USBC's small scale of operations as indicated by revenue of INR1,348.42million in FY22 (FY21: INR537.26 million). In FY22, the revenue improved as the company purchased a higher number of ships. In 1HFY23, the company has booked revenue of INR668.5 million. The company's revenue is highly dependent on the type of ships procured to dismantle, which leads to the absence of revenue visibility. Thus, for FY23, Ind-Ra expects the revenue to remain at a similar level, due to the similar nature of operations. The ratings also factor in USBC's modest and fluctuating EBITDA margins of 2.34% in FY22 (FY21: 1.42%), with a return on capital employed of 9.1% (1.7%). The company faces stiff competition in the market. Its operating margins oscillated in the range of 0.32%-2.34% over FY19-FY22, due to volatility in the prices of steel scrap as well as the purchase price of the ships. Moreover, USBC has modest credit metrics with the net interest coverage (operating EBITDA/net interest expenses) of 2.8x in FY22 (FY21: 1.31x) and the net leverage (total adjusted net debt/operating EBITDAR) of 4.87x (26.27x). In FY22, the net leverage sharply improved due to higher absolute EBITDA of INR31.58 million (FY21: INR7.61 million). For FY23, Ind-Ra expects the credit metrics to remain at a similar level, due to the similar nature of operations. Liquidity Indicator - Stretched: USBC does not have any capital market exposure and relies on banks and financial institutions to meet its funding requirements. Its net working capital cycle shortened to 64 days in FY22 (FY21: 169 days), mainly due to a decline in the inventory holding period to 45 days (145 days) owing to lower stock near year end. The cash and cash equivalents stood at INR32.96 million at FYE22 (FYE21: INR37.04 million), the cash flow from operations were INR23.37 million (INR64.92 million) and the free cash flow stood at INR22.31 million (INR63.44 million). The company's average maximum utilization of the fund-based limits was 62.83% and non-fund-based limits was 47.93% during the 12 months ended October 2022. As on 30 September 2022, the company had an outstanding letter of credit of INR262.9 million that would be due on December 23, 2022; against this, the company had a fixed deposit reserve worth INR116.2 million and inventory of INR67.15 million (790MT). However, the rating is supported by the promoters' nearly two decades of experience in the ship breaking industry, leading to established relationships with its customers and suppliers. Rating Sensitivities Positive: A substantial increase in the scale of operations, along with an improvement in the overall credit metrics and liquidity profile, all on a sustained basis, could lead to a positive rating action. Negative: A decline in the scale of operations, leading to deterioration in the overall credit metrics and/or further pressure on the liquidity position, could lead to a negative rating action. Company Profile Incorporated in 2002, USBC is engaged in ship breaking. Sajid Jaka, Sohil Lakhani and Salim Kaliwala are the company partners. Its registered office is in Bhavnagar, Gujarat. VEER BHADRA: CARE Keeps B- Debt Rating in Not Cooperating Category ------------------------------------------------------------------ CARE Ratings said the rating for the bank facilities of Veer Bhadra Enterprises (VBE) continues to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 10.00 CARE B-; Stable; ISSUER NOT Facilities COOPERATING; Rating continues to remain under ISSUER NOT COOPERATING category Detailed Rationale & Key Rating Drivers CARE Ratings Ltd. had, vide its press release dated November 16, 2021, placed the rating(s) of VBE under the 'issuer non-cooperating' category as VBE 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. VBE continues to be non-cooperative despite repeated requests for submission of information through e-mails, phone calls and a letter/email dated October 2, 2022, October 12, 2022, October 22, 2022. In line with the extant SEBI guidelines, CARE Ratings Ltd. has reviewed the rating on the basis of the best available information which however, in CARE Ratings Ltd.'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). Veer Bhadra Enterprises was constituted in 2019 as a proprietorship firm and is currently managed by Mr. Shailendra Kumar Sharma and his son Mr. Punit Kumar; both are and graduates by qualification and collectively look after the overall operations of the firm. Firm is involved in authorized wholesale of foreign liquor and beer. VIJAYA HOSPITAL: Ind-Ra Hikes LongTerm Issuer Rating to 'BB+' ------------------------------------------------------------- India Ratings and Research (Ind-Ra) has upgraded Vijaya Hospital's Long-Term Issuer Rating to 'IND BB+' from 'IND BB'. The Outlook is Stable. The instrument-wise rating actions are: -- INR20 mil. Fund-based working capital limits Long-term rating upgraded; short-term rating affirmed with IND BB+/Stable/IND A4+ rating; and -- INR271.64 mil. (reduced from INR294.04 mil.) Term loans due on March 2031 upgraded with IND BB+/Stable rating. Key Rating Drivers Vijaya's revenue surged to INR463.55 million in FY22 (FY21: INR343.62 million) on account of increased in-patient volumes following the subsiding of COVID-19 infections, along with the addition of new specialties such as dental care, nephrology, neonatology and urology. Till 1HFY23, the hospital booked revenue of INR275 million. In FY23, management expects the revenue to improve further due to the addition of 50 new beds and the newly added specialties. The scale of operations is medium. The interest coverage (operating EBITDA/gross interest expenses) improved to 3.42x in FY22 (FY21: 3.08x) and the net leverage (total adjusted net debt/operating EBITDAR) to 3.34x (3.89x), on account of an increase in the absolute EBITDA to INR118.36 million (INR100.39 million). In the medium term, Ind-Ra expects the credit metrics to improve further due to a likely increase in the top line and scheduled debt repayments. Despite the improvement, the credit metrics remain modest. Vijaya's EBITDA margin remained average and deteriorated to 25.53% in FY22 (FY21: 29.22%) due to an increase in the cost of surgical supplies. The return on capital employed was 12.9% in FY22 (FY21: 11.7%). In FY23, management expects the margin to become stable due to steady operating costs. Liquidity Indicator – Stretched: The company's cash flow from operations improved to INR67.14 million in FY22 (FY20: INR55.06 million) due to the increase in absolute EBITDA. Furthermore, its free cash flow improved to INR8.19 million (FY21: negative INR41.5 million). Vijaya had incurred capex of INR58.94 million in FY22 on renovation and to increase the capacity by 50 beds. The net working capital cycle improved to 76 days in FY22 (FY21: 125 days) due to a decline in the inventory holding period to 110 days (180 days). Vijaya's average maximum utilization of the fund-based limits was 76.4% during the 12 months ended October 2022 with no instance of overutilization. Its cash and cash equivalents stood at INR18.21 million at FYE22 (FYE21: INR5.33 million). Furthermore, Vijaya does not have any capital market exposure and relies on banks and financial institutions to meet its funding requirements. The debt repayment obligations for FY23, FY24 and FY25 amount to INR80.38 million, INR55.30 million, INR48.48 million, respectively. However, the ratings are supported by the hospital's locational advantage as it is among the few multi super-specialty hospitals in Kottarakara city in Kollam district of Kerala. The ratings also continue to benefit from the promoters' nearly two decades of experience in the healthcare industry. Rating Sensitivities Positive: An increase in the scale of operations, along with an improvement in the overall credit metrics and liquidity profile, all on a sustained basis, could lead to a positive rating action. Negative: A decline in the scale of operations, leading to deterioration in the overall credit metrics with the net leverage exceeding 3.7x on a sustained basis or a further pressure on the liquidity position, could lead to a negative rating action. Company Profile Vijaya was established in Kottarakara on May 8, 1998. It runs a hospital with a total capacity of 300 beds. Dr. VS Rajeev and Dr. AK Mini Rajeev are 50:50 partners. WTL GARMENTS: CARE Reaffirms B+ Rating on INR35.17cr LT Loan ------------------------------------------------------------ CARE Ratings reaffirmed ratings on certain bank facilities of WTL Garments Private Limited (WTL), as: Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank Facilities 35.17 CARE B+; Stable Reaffirmed Detailed rationale and key rating drivers The rating assigned to the bank facilities WTL remained constrained by the risk associated with forex fluctuation, weak financial profile, stretched liquidity profile, customer concentration risk and susceptibility of profitability margins by change in raw material pricing. The rating further remains constrained by the competitive, fragmented and cyclical nature of the industry. However, the rating derives strength from the experienced promoters, semi-integrated nature of operations situated in a favourable location. Rating sensitivities Positive factors – Factors that could lead to positive rating action/upgrade: * Profitable scale up of operations with PBILDT margins improving to above ~7% * Improvement in the overall solvency position with overall gearing ratio of below 2.5x Negative factors – Factors that could lead to negative rating action/downgrade: * Significant decline in income to below PBILDT margins below 3% * Deterioration in the solvency position with an overall gearing ratio of above 4.30x owing to increased working capital dependence Detailed description of the key rating drivers Key rating weaknesses * Weak Financial Profile: The income from operations of WGPL has decreased from 111.52 crores to 107.87 crores in FY22. Further the company has done sales of 60.95 crores in 6MFY23. The profitability margins of the company have remained low with PBILDT margins decreasing from 4.07% in FY21 to 3.32% in FY22 and PAT margins decreasing from 0.81% in FY21 to 0.22% in FY22. The GCA of WGPL has also decreased from 1.60 crores in FY21 to 1.33 crores in FY22. The deterioration in the profitability is on account of increased raw material cost, sales expenses and employee cost. The Interest coverage ratio of WGPL is 1.67x (PY- 1.48x). The DSCR for FY23, 24 and FY25 has remained close to unity on account of lower profitability margins and high debt repayment. * Customer Concentration Risk: WGPL has been engaged in the garments industry for over a decade now. Further, the Managing Director has an experience of about three decades in the industry. This has enabled established relationships with the clients as well as suppliers. The company caters primarily to export clients based in UAE, USA, Brazil etc. The biggest client is Apex General Trading LLC, UAE which accounts to approximately 36% of the overall income in FY22 (PY-32%). The top 5 customers account for 71% of their total operating income in FY22 (PY-79%). Domestically, the company mainly caters to reputed clients like Aditya Birla Fashion and Retail Limited, Monte Carlo Fashions Limited etc. which have established domestic brands like Allen Solly, Van Heusen, Monte Carlo etc. * Susceptibility to raw material price volatility and foreign exchange fluctuation risk: The primary raw material for the company is cotton yarn and fibers. Being an agricultural product, its demand supply situation depends on various natural conditions and its price is highly volatile depending on the demand-supply situation in the global markets. Further, the prices of the other raw materials viz. polyester yarn and fibers also remain dependent on crude oil which has also remained volatile in the past. In a competitive scenario, the company has limited ability to pass on fluctuations to the customers. Furthermore, in FY22, the company received around 80% of its income from exports while the company did not have any imports. The company doesn't enter into derivative contacts to hedges its exposure. Hence, the company is exposed to foreign exchange fluctuation and any major appreciation of INRmay impact the profitability adversely. * Competitive, fragmented and cyclical nature of the industry: The Indian textile industry, which is the second largest employer after agriculture and accounts for a significant portion of the GDP, is inherently cyclical in nature. Any adverse changes in the global economic outlook as well as demand-supply scenario in the domestic market directly impacts demand of the textile industry. Textile industry as a whole remains vulnerable to various factors such as fluctuations in prices of crude oil, mobilization of adequate workforce and changes in government policies for overall development of the textile industry. Any significant changes in such factors will have a direct impact on the business operations of the firm. WGPL operates in a highly fragmented textile manufacturing industry where in the presence of large number of entities in the unorganized sector and established players in the organized sector limits the bargaining power with customers. Furthermore, the company is also exposed to competitive pressures from domestic players as well as from players situated in China and Bangladesh. Key rating strengths * Experienced Promoters: WGPL was initially incorporated in 2010 as a partnership firm by Mr. Rakesh Kumar Garg and his father Mr. Luddar Mal Garg. The firm was later on converted in a Private Limited Company with the partners Mr. Rakesh Garg and his wife Mrs. Manju Garg converting their capital in the firm to Equity share capital in the company and becoming the directors. Both the directors hold an industry experience of around 1.5 decades. Mr. Rakesh Garg is actively involved in the management of the company. Further, the company has professionally qualified persons for various functions viz. merchandising, production, operations, knitting and fabrics, exports etc. * Favorable location and semi-integrated nature of operations: WGPL operates in Ludhiana, which is a well-established hub of textiles. The company benefits from the location advantage in terms of easy accessibility to a large customer base located in Ludhiana. Additionally, a large number of spinners and other textile players operate in the region leading to easy and ample availability of raw materials and processing activities like dyeing etc. WGPL's manufacturing unit is semi-integrated with facilities for knitting, cutting, stitching and finishing available in-house. The company also procures dyed fabric from time to time in case of any temporary capacity mismatch. However, the proportion of this remains low. * Improvement in the capital structure: The capital structure of the company is moderate with long term debt to equity of 0.72x and overall gearing of 2.97x against 1.45x and 3.75x in FY21. This improvement is on account of repayment of loans worth 9.5 crores from the amount received as a collection from debtors in FY22. In FY21, the company has debtors of 88 crores and as on March 31, 2022 the company has debtors of 43 crores. The company had such high debtors because of ECGC export orders where the payment was stopped and the matter was in subjudice as the company has filed ECGC claims for this amount. Liquidity: Stretched The company has free cash of 21.62 lakhs and FDRs of 84.61 lakhs in FY22 against 30 lakhs of free cash and FDR of 1.50 crores in FY21. The current ratio of the company in FY22 stands at 1.24x against 1.09x in FY21. The GCA of the company has decreased to 1.33 crores on account of lower PAT in FY22. The repayments in FY23 are of 2 crores. The operating cycle of the company has increased from 145 days to 171 days in FY22 on account of increased inventory days from 30 days in FY21 to 74 days in FY22. The collection period remains high at 230 days due to long due debtors. The company has debtors of INR88cr as on March 31, 2021, which has improved to INR43cr as on March 31, 2022. The recovery from debtors is being used to repay unsecured loan and some of the creditors. However, despite of the recovery of major portion of the debtors, the collection period remained higher, thereby putting pressure on the liquidity position of the company and also leading to almost full utilization of working capital limits. Worldwide Trade links was incorporated as a partnership firm in 2010. The firm was later on converted in a Private Limited Company with the partners Mr. Rakesh Garg and his wife Mrs. Manju Garg converting their capital in the firm to Equity share capital in the company and becoming the directors of WTL Garments Private Limited. The company is engaged in the manufacturing of knitted readymade garments at its single manufacturing facility in Ludhiana, Punjab. The company is operating with an installed capacity of 15000 pieces per day as on March 31, 2020. WT sells to reputed domestic players and other Ludhiana based players. The company also exports its products and derived around 80% of the total income in FY22 from export sales. The company deals with traders and dealers in UAE, USA, Europe etc. who further sell to various garment brands. WT has been awarded the status of 'Star Export House' by the Directorate General of Foreign Trade (DGFT). The product profile of the company includes cotton-polyester blended gents T-Shirts, gents shirts, gents lowers, boys T-Shirts, ladies T-Shirts, babysuits etc. The company has Worldwide Industries Limited as its group concern which is currently defunct. YAMUNA BIO: CRISIL Keeps B+ Debt Ratings in Not Cooperating ----------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Yamuna Bio Energy Private Limited (YBEPL) continue to be 'CRISIL B+/Stable Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 4.25 CRISIL B+/Stable (Issuer Not Cooperating) Proposed Long Term 3.25 CRISIL B+/Stable (Issuer Not Bank Loan Facility Cooperating) Term Loan 2.50 CRISIL B+/Stable (Issuer Not Cooperating) CRISIL Ratings has been consistently following up with YBEPL for obtaining information through letters and emails dated August 24, 2022 and October 15, 2022 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 with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, CRISIL Ratings failed to receive any information on either the financial performance or strategic intent of YBEPL, which restricts CRISIL Ratings' ability to take a forward looking view on the entity's credit quality. CRISIL Ratings believes that rating action on YBEPL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of YBEPL continues to be 'CRISIL B+/Stable Issuer Not Cooperating'. Set up initially as a proprietorship, Yamuna Industries was reconstituted as a private limited company with the current name in 2014. It is promoted by the Vadodara (Gujarat)-based Mr. Gaurang Shah and others. The company manufactures bio-diesel. ================= I N D O N E S I A ================= INDONESIA RE: Fitch Lowers Insurer Financial Strength Rating to 'B' ------------------------------------------------------------------- Fitch Ratings has downgraded PT Reasuransi Indonesia Utama (Persero)'s (Indonesia Re) Insurer Financial Strength (IFS) Rating to 'B' (Weak) from 'BB+' (Moderately Weak). At the same time, Fitch Ratings Indonesia has downgraded the National IFS Rating to 'BBB(idn)' from 'AA-(idn)'. All the ratings have been placed on Rating Watch Negative (RWN). The downgrade reflects Fitch's view that the risk of underwriting credit insurance in Indonesia has increased, while Indonesia Re is significantly exposed to conditions that Fitch considers to be likely to lead to reserve deficiencies. At the same time, the company's regulatory capital buffer is thin. The downgrade also reflects the removal of parental support from the ratings. The RWN reflects high near-term downside risks to the ratings in light of Indonesia Re's weak capitalisation, and the company's reporting and disclosure practices that Fitch views as lagging peers. Fitch expects to resolve the RWN when the company files its regulatory financial statements for the year ended 2022. 'BBB' National IFS ratings denote an adequate capacity to meet policyholder obligations relative to all other obligations or issuers in the same country or monetary union, across all industries and obligation types. KEY RATING DRIVERS Credit Insurance's Rapid Growth: Indonesia's credit insurance sector has been expanding in the past five years as non-life insurers shifted into the segment from the property and motor lines, which have been stagnant. Gross premiums for credit insurance rose by CAGR of 88% in 2016 to 2020, compared with the overall non-life sector's 12%. However, this growth slowed to 19% yoy in 1H22, while claims increased by 89% due to weak underwriting practice and inadequate reserves. Risk of Inadequate Reserves: The rapid growth and weak underwriting of the credit insurance line raises risks that the loss reserves for this business in Indonesia are inadequate. The losses may then undermine the capital positions of insurers involved in credit insurance, such as Indonesia Re. Large Reserve Top-Ups: Indonesia Re's reserves have been volatile due to large top-ups for its long-tail life and credit insurance businesses, which account for 33% of total gross premiums as of September 2022. Credit insurance alone made up around 2% of total gross premiums. For credit life, the company uses the gross premium valuation method for premium reserves and chain ladder for incurred but not reported reserves. However, the company has not adopted the triangulation method in calculating reserves for its treaty credit insurance, which accounted for 95% of its total credit insurance business. The company uses an internal approach, namely delayed statement of account simulation. The remaining 5% of the total credit insurance business comprises facultative credit insurance, which uses the triangulation method. Declining Capitalisation: Indonesia Re's regulatory risk-based capital (RBC) ratio fell to 128% based on unaudited financials at end-September 2022, from 145% based on audited end-2021 financials, with the decline reflecting reserve top-ups and a net loss. This leaves the RBC ratio only modestly above the regulatory required 120%. Fitch expects the ratio to fall below the required minimum as Fitch believes Indonesia Re is likely to make further reserve top-ups. Fitch also estimates Indonesia Re's Fitch Prism Model score as 'Weak' based on 2021 audited financials. The score dropped from 'Adequate' at end-2020 on lower available capital due to the large loss of IDR518 billion in 2021. No Capital Injection Assumed: Fitch does not have confidence that the company will receive a timely capital injection from its parent, and have updated our rating case to not expect one. Fitch has removed the one-notch uplift for support, and Fitch now rates Indonesia Re on its updated standalone analysis. The government, which owns Indonesia Re through the Ministry of State-Owned Enterprises, has not supported the insurer's capital position in the past five years. The government has not extended capital support to other weak insurers in recent years, despite full ownership by the state. 'Less Favorable' Corporate Governance: Fitch assesses Indonesia Re's corporate governance as 'Less Favourable' relative to that of other Indonesian insurers. This is evident in Indonesia Re's quarterly financial reports to the public, which are shorter than that of peers, and, in Fitch's view, are less transparent. Weak Underwriting Performance: Indonesia Re reported underwriting losses in three of the last five years with an average combined ratio of 105% over 2019-2021. The ratio reached 111% in 2021 and 103% as of September 2022 due to high claims from the credit insurance business, which had a higher loss ratio of 146% in 2021 (2020: 62%). The company aims to reduce the credit insurance business to improve its business portfolio. Return on equity was -17% at end-2021 before turning to a slight profit of 1% by end-September 2022 because of deferred tax expenses following the loss in 2021. The company has not booked the remaining tax disputed of around IDR285 billion as of September 2022. Fitch believes this is likely to continue to weigh on the company's profitability. 'Moderate' Company Profile: Fitch lowered Indonesia Re's company profile to 'Moderate' from 'Favourable', as the business profile has weakened following growth in its exposure to the longer claim period of the credit life and credit insurance businesses, which has led to weak underwriting performance. Fitch also factored in its 'Less Favourable' corporate governance in the company profile. RATING SENSITIVITIES Factors that could, individually or collectively, lead to negative rating action/downgrade: - A downgrade would primarily be driven by further deterioration in the company's RBC ratio to well below 120% without a timely offsetting capital injection, declines in operating performance and Fitch's perception that corporate governance has deteriorated. Factors that could, individually or collectively, lead to positive rating action/upgrade: - Fitch may remove the RWN if the issuer is able to demonstrate reserve adequacy and maintenance of capital at levels more favourable than Fitch's expectations. The latter could be demonstrated by greater certainty of a near-term capital injection. ESG CONSIDERATIONS PT Reasuransi Indonesia Utama (Persero) has an ESG Relevance Score of '4' for Financial Transparency due to limited financial disclosure to public, which has a negative impact on the credit profile, and is relevant to the rating in conjunction with other factors. PT Reasuransi Indonesia Utama (Persero) has an ESG Relevance Score of '4' for Exposure to Environmental Impacts as the company sources most of its premium income from the domestic market where Indonesia is geographically widespread, and faces multiple hazards, including flooding, earthquakes, landslides, tsunamis and volcanic eruptions, which has a negative impact on the credit profile, and is relevant to the rating in conjunction with other factors. Unless otherwise disclosed in this section, the highest level of ESG credit relevance is a score of '3'. This means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Entity/Debt Rating Prior ----------- ------ ----- PT Reasuransi Indonesia Utama (Persero) Ins Fin Str B Downgrade BB+ Natl Ins Fin Str BBB(idn) Downgrade AA-(idn) =============== M A L A Y S I A =============== SEACERA GROUP: Deadline to Submit Plan Extended to April 24 ----------------------------------------------------------- theedgemarkets.com reports that Seacera Group Bhd, a Practice Note 17 (PN17) company, has until April 24 next year to submit its regularisation plan to the regulatory authorities for approval. In a bourse filing on Dec. 9, Seacera said Bursa Securities, via a letter on Dec. 8, had granted the company the further extension of time, while failure to do so will see it being delisted from the local stock exchange, theedgemarkets.com relates. Seacera Group Bhd engages in manufacturing and trading of ceramic tiles. The company operates in mainly two divisions namely, Tiles division involving the manufacturing, trading, and marketing of all kinds of ceramic tiles and related products which contributes a major part of revenue and Property development and construction division which comprises of Investing and development of properties located in Malaysia. The company operates in multiple states across Malaysia, while it has a presence in ASEAN and other countries. In April 2019, Seacera Group Bhd was classified as a Practice Note 17 (PN17) company as it has defaulted on the payment of principal and profits to AmBank Islamic Bhd and not being able to provide a solvency declaration to Bursa Malaysia Securities. The company recorded a net loss of MYR43.13 million in the financial year ended Dec. 31, 2018, from a net profit of MYR8.92 million in the previous year. ===================== N E W Z E A L A N D ===================== CORNISH TRUCK: Court to Hear Wind-Up Petition on Dec. 15 -------------------------------------------------------- A petition to wind up the operations of Cornish Truck and Van Silverdale Limited will be heard before the High Court at Auckland on Dec. 15, 2022, at 10:00 a.m. The Commissioner of Inland Revenue filed the petition against the company on Aug. 30, 2022. The Petitioner's solicitor is: Cloete Van Der Merwe Inland Revenue, Legal Services 5 Osterley Way Manukau City Auckland 2104 FORTUNE INT'L: Court to Hear Wind-Up Petition on Dec. 15 -------------------------------------------------------- A petition to wind up the operations of Fortune International Education Group Limited will be heard before the High Court at Auckland on Dec. 15, 2022, at 10:00 a.m. The Commissioner of Inland Revenue filed the petition against the company on Aug. 24, 2022. The Petitioner's solicitor is: Cloete Van Der Merwe Inland Revenue, Legal Services 5 Osterley Way Manukau City Auckland 2104 FRESH START: Creditors' Proofs of Debt Due on Jan. 6 ---------------------------------------------------- Creditors of Fresh Start Electrical Limited are required to file their proofs of debt by Jan. 6, 2023, to be included in the company's dividend distribution. The company commenced wind-up proceedings on Dec. 1, 2022. The company's liquidators are: Brenton Hunt Steven Khov Kieran Jones PO Box 13400 City East Christchurch 8141 FRETWELL & CO: Court to Hear Wind-Up Petition on Dec. 15 -------------------------------------------------------- A petition to wind up the operations of Fretwell & Co Limited will be heard before the High Court at Auckland on Dec. 15, 2022, at 10:00 a.m. The Commissioner of Inland Revenue filed the petition against the company on Sept. 28, 2022. The Petitioner's solicitor is: Cloete Van Der Merwe Inland Revenue, Legal Services 5 Osterley Way Manukau City ONEWHERO EARLY: Creditors' Proofs of Debt Due on Jan. 13 -------------------------------------------------------- Creditors of Onewhero Early Childhood Centre Incorporated are required to file their proofs of debt by Jan. 13, 2023, to be included in the company's dividend distribution. The company commenced wind-up proceedings on Jan. 24, 2020. The company's liquidators are: Bryan Edward Williams BWA Insolvency Limited PO Box 609 Kumeu 0841 ================= S I N G A P O R E ================= AIM LOGISTICS: First Creditors' Meeting Set for Dec. 23 ------------------------------------------------------- A first meeting of the creditors in the proceedings of Aim Logistics (S) Pte Ltd. will be held on Dec. 23, 2022, at 10:00 a.m. via Zoom. The company's liquidators can be reached at: Lau Chin Huat Yeo Boon Keong c/o Technic Inter-Asia Pte Ltd 50 Havelock Road #02-767 Singapore 160050 AMBER GROUP: Axes Over 40% of Jobs; To End Chelsea FC Sponsorship ----------------------------------------------------------------- Bloomberg News reports that Amber Group, one of Asia's leading crypto trading and lending platforms, is cutting jobs, scrapping retail operations and terminating a sponsorship deal with Chelsea Football Club in the latest retrenchment to hit the digital-asset sector. According to Bloomberg, the decisions are part of a major cost-cutting strategy, according to a source familiar with the matter, who asked not to be identified discussing private information. The Singapore-based crypto company, whose backers include Temasek and Sequoia China, will slash its workforce to less than 400 from about 700, the source said, adding that staff numbers earlier peaked at about 1,100, Bloomberg relays. Bloomberg says the moves by Amber are just the latest indication of the diminished outlook for virtual assets following the spectacular bankruptcy of Sam Bankman-Fried's FTX exchange and sister trading house Alameda Research a month ago. Amber will now focus on large institutions, family offices and wealthy individuals, the source said, adding that customer numbers will fall to about 100 from the hundreds of thousands, because of the exit from the retail sector. The company in recent days has rebutted online speculation that it may be the next domino to fall after a series of blow-ups in the crypto sector, which is reeling from a US$2 trillion (S$2.7 trillion) rout. A top executive tweeted on Dec. 6 that the company is conducting "business as usual". Bloomberg adds that Amber plans to move to a cheaper office space in Hong Kong, while some smaller offices in other regions will most likely be shuttered, with remaining employees allowed to work from home, the source said. Chelsea FC and Amber announced a partnership in May that included displaying the logo for Amber's WhaleFin trading platform on the sleeves of the team's jersey during the 2022 to 2023 season. The sponsorship deal was reported to be worth GBP20 million (US$33 million) a year. The source said Amber was going through the legal process of ending the agreement. Amber was launched in 2018 by a group of founders that included former Morgan Stanley traders and raised US$200 million at a US$3 billion valuation in February. Bloomberg News reported earlier this week that Amber had put fund raising for US$100 million on hold. One of the company's co-founders, Mr. Tiantian Kullander, died unexpectedly in his sleep in November at the age of 30. Amber Group - which operates cryptocurrency finance services including market making, trading and asset management, and a retail-facing exchange named WhaleFin - is backed by major venture capital firms. KOCH FERTILIZER: Commences Wind-Up Proceedings ---------------------------------------------- Members of Koch Fertilizer Asia Private Ltd on Dec. 1, 2022, passed a resolution to voluntarily wind up the company's operations. The company's creditors are required within thirty days to file their proofs to be included in the company's dividend distribution. The company's liquidator is: Teh Kwang Hwee c/o 1 Commonwealth Lane #07-32 One Commonwealth Singapore 149544 MANSFIELD & COMPANY: Creditors' Proofs of Debt Due on Jan. 9 ------------------------------------------------------------ Creditors of Mansfield & Company Pte. Ltd. are required to file their proofs of debt by Jan. 9, 2023, to be included in the company's dividend distribution. The company commenced wind-up proceedings on Dec. 7, 2022. The company's liquidators are: Leow Quek Shiong Gary Loh Weng Fatt Seah Roh Lin c/o BDO Advisory Pte. Ltd. 600 North Bridge Road #23-01 Parkview Square Singapore 188778 RETEP PTE: Commences Wind-Up Proceedings ---------------------------------------- Members of Retep Pte Ltd, on Dec. 9, 2022, passed a resolution to voluntarily wind up the company's operations. The company's liquidator is: Tan Yang Pah M/s Y P Tan & Co. 25 Keong Saik Road #03-01 Singapore 089132 ROYAL GOALSON: First Creditors' Meeting Set for Dec. 23 ------------------------------------------------------- A first meeting of the creditors in the proceedings of Royal Goalson Plastic Pte Ltd will be held on Dec. 23, 2022, at 11:00 a.m. via Zoom. The company's liquidators can be reached at: Lau Chin Huat Yeo Boon Keong c/o Technic Inter-Asia Pte Ltd 50 Havelock Road #02-767 Singapore 160050 ================= S R I L A N K A ================= SRI LANKA: Clears Budget, Securing Twice-Delayed IMF Bailout ------------------------------------------------------------ NDTV reports that crisis-hit Sri Lanka's parliament on Dec. 8 approved President Ranil Wickremesinghe's 2023 budget, vital to raising government revenue and securing a twice-delayed IMF bailout. NDTV relates that the island nation has been reeling from more than a year of severe shortages and runaway inflation, prompting protests that ousted Wickremesinghe's predecessor Gotabaya Rajapaksa in July. According to the report, Parliament voted overwhelmingly to sign off on Wickremesinghe's plan to raise overall tax revenue by nearly 70 percent and privatise loss-making state enterprises after a month-long debate. NDTV says Wickremesinghe, a six-times prime minister, has already sharply raised taxes and increased fuel, water and electricity tariffs and rationed petrol and diesel in a bid to stabilise the economy. His moves followed the government declaring bankruptcy in mid-April and defaulting on its $46-billion foreign debt for the first time since independence from Britain in 1948. But the main opposition said Wickremesinghe's first full budget was unrealistic and warned that the economic crisis could worsen next year. "This is a failed budget," NDTV quotes opposition legislator Eran Wickramaratne as saying on Dec. 8. "The numbers in the budget are unrealistic." According to the report, the budget expects a 69-percent increase in tax revenue next year and projects a narrowing of the budget deficit to 7.9 percent of GDP in 2023, down from 9.8 percent this year. The central bank had initially expected a $2.9-billion bailout from the International Monetary Fund to materialise by August. The bank later said it hoped a deal could be concluded by early December, but now say talks could drag onto early next year. An agreement with all external creditors, including China which accounts for 52 percent of Colombo's bilateral debt, is a pre-condition to drawing down any IMF support, NDTV says. Beijing has made no public statements on Colombo's pleas to "restructure," a euphemism for a debt haircut, but officials said talks are still underway. Japan and India are the other two major bilateral creditors owning 19.5 percent and 12 percent of Sri Lanka's bilateral debt respectively. Much of the foreign debt is in international sovereign bonds (ISBs) held by private investors and talks with them are also ongoing, officials said adding that a deal was yet to be struck, NDTV relays. According to NDTV, the IMF has said Sri Lanka's foreign debt must be "sustainable" to unlock any new external funding and the country should also restructure its myriad loss-making state enterprises. Wickremesinghe has proposed the sale of the country's loss-making national carrier, Sri Lankan airlines, and several other entities to raise foreign exchange and boost the country's external reserves. Official figures show that major state businesses, including Sri Lankan airlines, lost $2.38 billion in the first four months of this year alone, NDTV discloses. The World Bank has warned that the economy could shrink by 9.2 percent this year, worse than the 8.7 percent contraction the central bank of Sri Lanka had forecasted, adds NDTV. About Sri Lanka Sri Lanka, formerly known as Ceylon and officially the Democratic Socialist Republic of Sri Lanka, is an island country in South Asia. It lies in the Indian Ocean, southwest of the Bay of Bengal, and southeast of the Arabian Sea; it is separated from the Indian subcontinent by the Gulf of Mannar and the Palk Strait. Sri Lanka shares a maritime border with India and the Maldives. Sri Jayawardenepura Kotte is its legislative capital, and Colombo is its largest city and financial centre. Sri Lanka has been mired in turmoil amid surging inflation, a plummeting currency and an economic crisis that has left the country short of the hard currency it needs to import food and fuel, according to Bloomberg News. Public anger has boiled over into violent protests and led the government to announce in April 2022 it would halt payments on its NZD12.6 billion pile of foreign debt to preserve cash for essential goods. That marks the nation's first sovereign debt default since it gained independence from Britain in 1948, Bloomberg said. Its bonds are among the worst performers in the world this year and trade deep in distressed territory, with holders bracing for losses approaching 60 cents on the dollar. Sri Lanka's crisis sparked months of mass protests and eventually forced then president Gotabaya Rajapaksa to flee the country. On July 20, 2022, Ranil Wickremesinghe was elected as Sri Lanka's new head of state backed by a majority of lawmakers from ousted leader Gotabaya Rajapaksa's party. As reported in the Troubled Company Reporter-Asia Pacific on Dec. 5, 2022, Fitch Ratings has downgraded Sri Lanka's Long-Term Local-Currency Issuer Default Rating (IDR) to 'CC', from 'CCC', and has affirmed the Long-Term Foreign-Currency IDR at 'RD' (Restricted Default). Fitch typically does not assign Outlooks to ratings of 'CCC+' or below. Fitch has also removed the Long-Term Local-Currency IDR from Under Criteria Observation, on which it was placed on July 14, 2022, following the publication of the updated Sovereign Rating Criteria. =============== X X X X X X X X =============== [*] BOND PRICING: For the Week Dec. 5, 2022 to Dec. 9, 2022 ----------------------------------------------------------- Issuer Coupon Maturity Currency Price ------ ------ -------- -------- ----- AUSTRALIA --------- ACN 113 874 712 PTY LTD 13.25 02/15/18 USD 0.26 ACN 113 874 712 PTY LTD 13.25 02/15/18 USD 0.26 APA INFRASTRUCTURE LTD 1.25 03/15/33 EUR 74.00 APA INFRASTRUCTURE LTD 2.50 03/15/36 GBP 67.70 AUSNET SERVICES HOLDINGS 2.57 08/07/35 AUD 69.57 AUSNET SERVICES HOLDINGS 2.57 08/07/35 AUD 69.22 AUSNET SERVICES HOLDINGS 3.16 08/07/40 AUD 65.80 AUSTRALIA & NEW ZEALAND B 1.86 02/28/44 EUR 75.24 AUSTRALIA & NEW ZEALAND B 2.57 11/25/35 USD 73.99 AUSTRALIA & NEW ZEALAND B 2.57 11/25/35 USD 73.95 AUSTRALIA & NEW ZEALAND B 3.40 12/20/39 AUD 67.07 AUSTRALIA & NEW ZEALAND B 1.23 02/18/50 EUR 64.51 AUSTRALIA & NEW ZEALAND B 3.00 12/17/40 AUD 61.91 AUSTRALIA & NEW ZEALAND B 2.92 12/22/40 AUD 60.17 AUSTRALIA GOVERNMENT BOND 1.75 06/21/51 AUD 65.72 CLIME CAPITAL LTD/FUND 5.25 11/30/25 AUD 0.98 COMMONWEALTH BANK OF AUST 3.10 11/30/41 AUD 74.73 COMMONWEALTH BANK OF AUST 1.34 05/17/49 EUR 73.72 COMMONWEALTH BANK OF AUST 3.66 09/23/34 AUD 72.76 COMMONWEALTH BANK OF AUST 3.00 03/20/35 AUD 71.90 COMMONWEALTH BANK OF AUST 3.30 05/28/35 AUD 71.83 COMMONWEALTH BANK OF AUST 1.01 07/19/44 EUR 71.25 COMMONWEALTH BANK OF AUST 3.31 03/11/41 USD 69.79 COMMONWEALTH BANK OF AUST 3.31 03/11/41 USD 69.78 COMMONWEALTH BANK OF AUST 0.69 11/15/39 EUR 68.73 COMMONWEALTH BANK OF AUST 2.71 10/29/49 AUD 66.84 COMMONWEALTH BANK OF AUST 2.70 09/18/49 AUD 66.62 COMMONWEALTH BANK OF AUST 2.66 11/26/49 AUD 66.18 COMMONWEALTH BANK OF AUST 2.60 09/27/49 AUD 65.17 COMMONWEALTH BANK OF AUST 0.48 07/30/43 EUR 65.15 COMMONWEALTH BANK OF AUST 0.48 07/29/41 EUR 64.05 COMMONWEALTH BANK OF AUST 3.00 12/10/40 AUD 63.87 COMMONWEALTH BANK OF AUST 2.45 10/18/49 AUD 63.22 COMMONWEALTH BANK OF AUST 3.20 08/27/40 AUD 62.96 COMMONWEALTH BANK OF AUST 3.30 09/24/41 AUD 61.79 COMMONWEALTH BANK OF AUST 3.30 08/26/50 AUD 61.57 COMMONWEALTH BANK OF AUST 3.12 08/27/41 AUD 59.72 COMMONWEALTH BANK OF AUST 1.90 03/12/50 AUD 54.68 EDITH COWAN UNIVERSITY 3.40 07/15/41 AUD 69.50 EXCHANGE TRADED AUSTRALIA 1.75 06/21/51 AUD 65.41 FLAGSHIP INVESTMENTS LTD 5.50 10/01/26 AUD 2.56 GENERAL PROPERTY TRUST 2.21 12/04/35 HKD 72.77 GLENNON SMALL COS LTD 5.60 09/30/30 AUD 8.55 GLOBAL MASTERS FUND LTD/F 5.50 11/24/26 AUD 3.10 MACQUARIE BANK LTD 3.05 03/03/36 USD 73.31 MACQUARIE BANK LTD 3.05 03/03/36 USD 73.23 MACQUARIE GROUP LTD 2.67 10/27/36 USD 72.38 MACQUARIE GROUP LTD 2.60 10/08/36 USD 71.81 MACQUARIE GROUP LTD 2.50 09/24/36 USD 70.95 MACQUARIE GROUP LTD 2.22 06/26/39 SEK 54.39 MACQUARIE UNIVERSITY 3.05 05/20/40 AUD 74.33 MACQUARIE UNIVERSITY 3.10 11/22/44 AUD 69.98 MOSAIC BRANDS LTD 8.00 09/30/24 AUD 0.85 NATIONAL AUSTRALIA BANK L 3.30 06/09/35 AUD 73.94 NATIONAL AUSTRALIA BANK L 4.10 02/24/42 AUD 73.31 NATIONAL AUSTRALIA BANK L 2.76 01/21/40 AUD 73.02 NATIONAL AUSTRALIA BANK L 2.64 12/16/39 AUD 72.25 NATIONAL AUSTRALIA BANK L 2.68 01/22/40 AUD 72.23 NATIONAL AUSTRALIA BANK L 2.60 01/28/40 AUD 71.21 NATIONAL AUSTRALIA BANK L 3.71 11/25/41 AUD 70.47 NATIONAL AUSTRALIA BANK L 2.48 12/05/39 AUD 70.01 NATIONAL AUSTRALIA BANK L 3.37 05/25/46 USD 69.60 NATIONAL AUSTRALIA BANK L 3.40 06/30/40 AUD 68.22 NATIONAL AUSTRALIA BANK L 3.35 07/17/40 AUD 67.94 NATIONAL AUSTRALIA BANK L 3.35 07/24/40 AUD 64.19 NATIONAL AUSTRALIA BANK L 2.65 01/14/41 USD 62.83 NATIONAL AUSTRALIA BANK L 2.65 01/14/41 USD 62.74 NEW SOUTH WALES TREASURY 2.25 11/20/40 AUD 71.12 NEW SOUTH WALES TREASURY 2.25 05/07/41 AUD 70.63 NEW SOUTH WALES TREASURY 2.25 05/20/42 AUD 69.00 NEW SOUTH WALES TREASURY 2.45 08/24/50 AUD 65.81 NEW SOUTH WALES TREASURY 0.61 02/24/50 EUR 64.25 QUEENSLAND TREASURY CORP 2.25 04/16/40 AUD 71.97 QUEENSLAND TREASURY CORP 2.25 11/20/41 AUD 70.19 QUEENSLAND TREASURY CORP 2.25 10/28/50 AUD 63.00 QUEENSLAND TREASURY CORP 0.69 06/01/50 EUR 60.65 RIO TINTO FINANCE USA LTD 2.75 11/02/51 USD 71.22 SOUTH AUSTRALIAN GOVERNME 2.00 05/23/36 AUD 73.98 SOUTH AUSTRALIAN GOVERNME 2.25 05/24/40 AUD 70.08 STOCKLAND TRUST MANAGEMEN 2.62 03/19/36 HKD 72.98 TASMANIAN PUBLIC FINANCE 1.75 01/22/36 AUD 72.24 TASMANIAN PUBLIC FINANCE 2.35 08/23/41 AUD 69.53 TREASURY CORP OF VICTORIA 2.00 11/20/37 AUD 71.83 TREASURY CORP OF VICTORIA 2.25 11/20/40 AUD 70.55 TREASURY CORP OF VICTORIA 2.25 11/20/41 AUD 69.20 TREASURY CORP OF VICTORIA 2.25 11/20/42 AUD 68.16 TREASURY CORP OF VICTORIA 2.40 08/18/50 AUD 64.51 TREASURY CORP OF VICTORIA 0.60 02/24/50 EUR 61.66 VIRGIN AUSTRALIA HOLDINGS 7.88 10/15/21 USD 0.56 VIRGIN AUSTRALIA HOLDINGS 8.13 11/15/24 USD 0.51 VIRGIN AUSTRALIA HOLDINGS 8.13 11/15/24 USD 0.51 VIRGIN AUSTRALIA HOLDINGS 8.00 11/26/24 AUD 0.38 VIRGIN AUSTRALIA HOLDINGS 8.08 03/05/24 AUD 0.37 VIRGIN AUSTRALIA HOLDINGS 8.25 05/30/23 AUD 0.37 VIRGIN AUSTRALIA HOLDINGS 7.88 10/15/21 USD 0.27 WESTERN AUSTRALIAN TREASU 2.25 07/23/41 AUD 71.03 WESTPAC BANKING CORP 0.38 09/22/36 EUR 69.87 WESTPAC BANKING CORP 2.35 02/27/40 AUD 68.68 WESTPAC BANKING CORP 3.13 11/18/41 USD 68.59 WESTPAC BANKING CORP 2.96 11/16/40 USD 67.70 CHINA ----- AKESU DISTRICT GREEN INDU 4.09 03/11/23 CNY 20.03 AKESU DISTRICT GREEN INDU 4.09 03/11/23 CNY 19.95 AKESU TEXTILE CITY DEVELO 7.50 06/21/24 CNY 41.00 AKESU TEXTILE CITY DEVELO 7.50 06/21/24 CNY 40.99 ALETAI CITY JUJIN URBAN C 7.73 10/26/24 CNY 51.87 ALTAY PREFECTURE STATE-OW 4.85 01/22/23 CNY 20.05 ALTAY PREFECTURE STATE-OW 4.85 01/22/23 CNY 20.00 ANHUI DANGTU ECO DEVELOPM 6.00 09/11/24 CNY 40.77 ANHUI DANGTU ECO DEVELOPM 6.00 09/11/24 CNY 40.00 ANHUI HUAAN FOREIGN ECONO 7.30 07/13/21 CNY 70.01 ANHUI HUAINING URBAN & RU 5.80 08/28/24 CNY 40.77 ANHUI HUAINING URBAN & RU 5.80 08/28/24 CNY 40.00 ANHUI JIANGNAN INDUSTRIAL 4.76 07/08/23 CNY 19.93 ANHUI JIANGNAN INDUSTRIAL 4.76 07/08/23 CNY 19.91 ANHUI LANGCHUAN HOLDING G 6.13 12/11/24 CNY 41.65 ANHUI LANGCHUAN HOLDING G 6.13 12/11/24 CNY 41.21 ANHUI LEXING CITY CONSTRU 6.05 11/01/24 CNY 41.15 ANJI CONSTRUCTION INVESTM 7.20 05/02/25 CNY 63.06 ANJI CONSTRUCTION INVESTM 7.49 09/25/25 CNY 62.91 ANJI CONSTRUCTION INVESTM 7.20 05/02/25 CNY 61.85 ANJI CONSTRUCTION INVESTM 7.49 09/25/25 CNY 60.00 ANJI COUNTY INDUSTRY INVE 7.00 11/19/25 CNY 62.10 ANJI COUNTY INDUSTRY INVE 7.00 11/19/25 CNY 60.00 ANJI NORTHWEST DEVELOPMEN 5.90 07/18/23 CNY 20.12 ANJI NORTHWEST DEVELOPMEN 5.90 07/18/23 CNY 19.93 ANLU CONSTRUCTION DEVELOP 5.45 06/15/23 CNY 20.12 ANNING DEVELOPMENT INVEST 8.80 09/11/25 CNY 63.87 ANNING DEVELOPMENT INVEST 8.00 12/04/25 CNY 63.49 ANNING DEVELOPMENT INVEST 8.00 12/04/25 CNY 60.00 ANNING DEVELOPMENT INVEST 8.80 09/11/25 CNY 55.50 ANQING ECONOMIC&TECHNOLOG 4.09 03/09/23 CNY 20.01 ANQING ECONOMIC&TECHNOLOG 4.09 03/09/23 CNY 19.98 ANQING WANJIANG HIGH TECH 6.50 08/02/24 CNY 40.34 ANQING WANJIANG HIGH TECH 6.50 08/02/24 CNY 40.00 ANQIU HUAAN STATE OWNED A 7.00 09/14/24 CNY 39.81 ANQIU HUAAN STATE OWNED A 7.00 09/14/24 CNY 38.00 ANSHUN CITY CONSTRUCTION 7.30 09/15/24 CNY 41.14 ANSHUN CITY XIXIU INDUSTR 8.00 01/29/26 CNY 69.30 ANSHUN CITY XIXIU INDUSTR 8.00 01/29/26 CNY 68.00 ANSHUN CITY XIXIU INDUSTR 7.90 11/15/25 CNY 63.27 ANSHUN CITY XIXIU INDUSTR 7.90 11/15/25 CNY 50.00 ANSHUN STATE-RUN ASSETS M 4.48 07/18/23 CNY 19.96 ANSHUN STATE-RUN ASSETS M 4.48 07/18/23 CNY 19.83 ANSHUN TRANSPORTATION DEV 7.50 10/31/24 CNY 38.23 ANSHUN TRANSPORTATION DEV 7.50 10/31/24 CNY 35.50 ANSHUN XIXIU CITY INVESTM 4.70 11/22/23 CNY 19.97 ANSHUN XIXIU CITY INVESTM 4.70 11/22/23 CNY 17.54 ANYUE XINGAN CITY DEVELOP 7.50 01/30/25 CNY 61.62 ANYUE XINGAN CITY DEVELOP 7.50 01/30/25 CNY 61.61 AOYUAN CORP GROUP LTD 5.65 08/06/25 CNY 59.71 AOYUAN CORP GROUP LTD 6.60 09/03/23 CNY 38.00 AOYUAN CORP GROUP LTD 5.50 03/03/25 CNY 25.50 BAOJI INVESTMENT GROUP CO 5.05 04/18/24 CNY 40.24 BAOTOU AFFORDABLE HOUSING 5.25 07/27/24 CNY 40.80 BAOTOU AFFORDABLE HOUSING 5.31 08/10/24 CNY 40.22 BAOTOU AFFORDABLE HOUSING 5.25 07/27/24 CNY 40.18 BAOTOU QINSHAN HOUSING DE 7.90 12/26/23 CNY 45.33 BAOYING CITY CONSTRUCTION 4.50 03/24/23 CNY 20.05 BAOYING CITY CONSTRUCTION 4.50 03/24/23 CNY 19.98 BAOYING COUNTY DEVELOPMEN 5.49 10/17/24 CNY 41.70 BAOYING COUNTY DEVELOPMEN 5.49 10/17/24 CNY 40.71 BAOYING COUNTY DEVELOPMEN 5.45 08/21/24 CNY 40.60 BAZHOU GUOHUI CONSTRUCTIO 6.08 06/19/24 CNY 40.73 BAZHOU GUOHUI CONSTRUCTIO 6.08 06/19/24 CNY 40.49 BEIPIAO CITY CONSTRUCTION 6.70 03/25/23 CNY 20.11 BEIPIAO CITY CONSTRUCTION 6.70 03/25/23 CNY 20.11 BENGBU ECONOMIC DEVELOPME 6.45 07/13/24 CNY 40.34 BENGBU ECONOMIC DEVELOPME 6.45 07/13/24 CNY 40.00 BENGBU URBAN INVESTMENT H 5.80 04/13/24 CNY 40.39 BENGBU URBAN INVESTMENT H 5.80 04/13/24 CNY 40.38 BIJIE CITY ANFANG CONSTRU 7.80 01/18/26 CNY 69.00 BIJIE CONSTRUCTION INVEST 5.55 08/03/24 CNY 40.09 BIJIE CONSTRUCTION INVEST 5.78 07/06/24 CNY 38.76 BIJIE DEXI CONSTRUCTION D 4.60 11/17/23 CNY 19.64 BIJIE DEXI CONSTRUCTION D 5.10 12/05/23 CNY 19.60 BIJIE DEXI CONSTRUCTION D 4.60 11/17/23 CNY 19.52 BIJIE DEXI CONSTRUCTION D 5.10 12/05/23 CNY 19.18 BIJIE QIXINGGUAN DISTRICT 8.05 08/16/25 CNY 55.33 BIJIE QIXINGGUAN DISTRICT 7.60 09/08/24 CNY 41.22 BIJIE TIANHE URBAN CONSTR 8.05 12/03/25 CNY 63.54 BIJIE XINTAI INVESTMENT C 7.80 11/01/24 CNY 36.00 BIJIE XINTAI INVESTMENT C 7.80 11/01/24 CNY 35.49 BINZHOU ZHANHUA DISTRICT 4.93 11/29/23 CNY 20.09 BINZHOU ZHANHUA DISTRICT 4.93 11/29/23 CNY 19.83 BOZHOU URBAN CONSTRUCTION 4.78 04/14/23 CNY 20.07 BOZHOU URBAN CONSTRUCTION 4.78 04/14/23 CNY 19.98 BRILLIANCE AUTO GROUP HOL 5.80 06/17/24 CNY 60.78 BRILLIANCE AUTO GROUP HOL 5.80 11/05/23 CNY 59.80 BRILLIANCE AUTO GROUP HOL 6.30 09/14/23 CNY 56.93 BRILLIANCE AUTO GROUP HOL 5.40 09/14/23 CNY 55.80 BRILLIANCE AUTO GROUP HOL 5.80 03/20/24 CNY 54.80 CEFC SHANGHAI INTERNATION 4.98 12/10/20 CNY 61.29 CEFC SHANGHAI INTERNATION 4.08 09/09/21 CNY 60.00 CHANG DE DING LI INDUSTRY 6.10 07/20/24 CNY 40.23 CHANG DE DING LI INDUSTRY 6.10 07/20/24 CNY 40.09 CHANG DE DING LI INDUSTRY 4.30 03/10/23 CNY 20.00 CHANG DE DING LI INDUSTRY 4.30 03/10/23 CNY 19.96 CHANGDE DE YUAN SHANTY TO 5.33 09/13/23 CNY 9.81 CHANGDE DINGCHENG JIANGNA 7.58 10/19/25 CNY 61.24 CHANGDE DINGCHENG JIANGNA 7.58 10/19/25 CNY 60.00 CHANGDE URBAN CONSTRUCTIO 3.59 01/12/23 CNY 20.05 CHANGDE URBAN CONSTRUCTIO 3.59 01/12/23 CNY 20.02 CHANGGE JINCAI PUBLIC ASS 7.10 04/19/24 CNY 39.99 CHANGGE JINCAI PUBLIC ASS 7.10 04/19/24 CNY 39.77 CHANGJI URBAN CONSTRUCTIO 4.24 11/18/23 CNY 19.96 CHANGJI URBAN CONSTRUCTIO 4.24 11/18/23 CNY 19.50 CHANGLE COUNTY NEWTOWN DE 5.18 12/16/22 CNY 20.41 CHANGLE COUNTY NEWTOWN DE 5.18 12/16/22 CNY 19.99 CHANGSHA CHENGBEI INVESTM 6.95 06/06/25 CNY 64.90 CHANGSHA CHENGBEI INVESTM 6.95 06/06/25 CNY 62.22 CHANGSHA CHENGBEI INVESTM 7.00 10/26/25 CNY 60.00 CHANGSHA ECONOMIC & TECHN 4.78 03/03/24 CNY 41.26 CHANGSHA ECONOMIC & TECHN 4.78 03/03/24 CNY 40.11 CHANGSHA FURONG CITY DEVE 3.88 01/26/23 CNY 24.60 CHANGSHA FURONG CITY DEVE 3.88 01/26/23 CNY 20.00 CHANGSHA JINZHOU NEW CITY 6.60 08/24/24 CNY 40.91 CHANGSHA JINZHOU NEW CITY 6.60 08/24/24 CNY 40.00 CHANGSHA METRO GROUP CO L 4.10 12/21/25 CNY 61.47 CHANGSHA METRO GROUP CO L 4.10 12/21/25 CNY 60.55 CHANGSHA METRO GROUP CO L 5.97 04/03/25 CNY 47.56 CHANGSHA METRO GROUP CO L 5.97 04/03/25 CNY 46.41 CHANGSHA METRO GROUP CO L 5.40 07/14/25 CNY 46.31 CHANGSHA METRO GROUP CO L 5.40 07/14/25 CNY 45.00 CHANGSHA METRO GROUP CO L 6.20 04/23/23 CNY 15.11 CHANGSHA TIANXIN CITY CON 3.43 08/08/23 CNY 20.15 CHANGSHA TIANXIN CITY CON 3.43 08/08/23 CNY 19.84 CHANGSHA WANGYUAN DEVELOP 5.73 07/12/27 CNY 73.11 CHANGSHA WANGYUAN DEVELOP 5.73 07/12/27 CNY 72.15 CHANGSHA YUHUA JINGKAI DE 4.17 09/06/23 CNY 19.94 CHANGSHA YUHUA JINGKAI DE 4.17 09/06/23 CNY 19.92 CHANGSHA YUHUA URBAN CONS 3.80 01/28/23 CNY 20.15 CHANGSHA YUHUA URBAN CONS 3.80 01/28/23 CNY 19.99 CHANGXING SOUTHERN TAIHU 6.50 11/30/25 CNY 61.75 CHANGXING SOUTHERN TAIHU 6.50 11/30/25 CNY 60.00 CHANGZHOU JINTAN COMMUNIC 7.10 12/21/24 CNY 61.00 CHANGZHOU JINTAN COMMUNIC 7.10 12/21/24 CNY 60.00 CHANGZHOU JINTAN COMMUNIC 6.50 11/07/24 CNY 40.67 CHANGZHOU JINTAN COMMUNIC 6.50 11/07/24 CNY 40.00 CHANGZHOU XINGANG ECONOMI 3.42 10/20/23 CNY 19.91 CHANGZHOU XINGANG ECONOMI 3.42 10/20/23 CNY 19.82 CHANGZHOU ZHONGLOU ECONOM 3.64 10/26/23 CNY 19.94 CHANGZHOU ZHONGLOU ECONOM 3.64 10/26/23 CNY 19.85 CHAOHU URBAN TOWN CONSTRU 5.67 05/03/25 CNY 62.60 CHAOHU URBAN TOWN CONSTRU 5.67 05/03/25 CNY 61.20 CHENGDU FINANCIAL CITY IN 5.99 10/23/25 CNY 61.44 CHENGDU FINANCIAL CITY IN 5.99 10/23/25 CNY 60.00 CHENGDU GARDEN WATER CITY 8.00 06/13/25 CNY 60.00 CHENGDU GARDEN WATER CITY 8.00 06/13/25 CNY 59.19 CHENGDU GARDEN WATER CITY 7.50 09/11/24 CNY 39.73 CHENGDU GARDEN WATER CITY 7.50 09/11/24 CNY 39.47 CHENGDU GARDEN WATER CITY 6.15 05/03/23 CNY 19.95 CHENGDU GARDEN WATER CITY 6.15 05/03/23 CNY 19.84 CHENGDU LIN JIANG GARDEN 7.00 08/27/25 CNY 62.02 CHENGDU LIN JIANG GARDEN 6.75 08/02/24 CNY 39.88 CHENGDU XINGJIN ECOLOGICA 3.65 10/13/23 CNY 19.97 CHENGDU XINGJIN ECOLOGICA 3.65 10/13/23 CNY 19.83 CHENGDU XINGSHU INVESTMEN 6.78 08/21/24 CNY 40.73 CHENGDU XINGSHU INVESTMEN 6.78 08/21/24 CNY 40.00 CHENGDU XINJIN COUNTY IND 7.30 10/23/24 CNY 41.23 CHENGDU XINJIN COUNTY IND 7.30 10/23/24 CNY 40.00 CHENGDU XINJIN COUNTY STA 6.40 07/05/24 CNY 40.59 CHENGDU XINJIN COUNTY STA 6.28 08/03/24 CNY 40.57 CHENGDU XINJIN COUNTY STA 6.28 08/03/24 CNY 40.00 CHENGDU XINJIN COUNTY STA 6.40 07/05/24 CNY 39.55 CHENGDU XINKAIYUAN URBAN 5.29 04/27/23 CNY 20.03 CHENGDU XINKAIYUAN URBAN 5.29 04/27/23 CNY 19.93 CHENZHOU BAIFU INVESTMENT 4.96 03/22/26 CNY 60.00 CHENZHOU BAIFU INVESTMENT 4.96 03/22/26 CNY 55.06 CHENZHOU FUCHENG HIGH TEC 4.73 01/22/23 CNY 20.10 CHENZHOU FUCHENG HIGH TEC 4.73 01/22/23 CNY 20.00 CHENZHOU WENLV INDUSTRY C 5.34 11/28/23 CNY 19.56 CHENZHOU XINTIAN INVESTME 5.38 03/08/26 CNY 58.00 CHENZHOU XINTIAN INVESTME 5.38 03/08/26 CNY 55.22 CHENZHOU XINTIAN INVESTME 6.00 07/26/24 CNY 40.00 CHENZHOU XINTIAN INVESTME 6.00 07/26/24 CNY 38.14 CHIBI LANTIAN URBAN CONST 6.95 11/22/25 CNY 62.30 CHIBI LANTIAN URBAN CONST 6.95 11/22/25 CNY 60.00 CHIBI LANTIAN URBAN CONST 4.38 08/10/23 CNY 20.00 CHIBI LANTIAN URBAN CONST 4.38 08/10/23 CNY 19.94 CHINA COMMUNICATION TECHN 7.00 07/19/20 CNY 5.00 CHINA FORTUNE LAND DEVELO 5.00 05/30/22 CNY 68.15 CHINA FORTUNE LAND DEVELO 5.80 05/23/22 CNY 25.13 CHINA FORTUNE LAND DEVELO 5.60 09/10/21 CNY 25.13 CHINA FORTUNE LAND DEVELO 7.20 04/18/21 CNY 25.13 CHINA FORTUNE LAND DEVELO 7.40 03/24/21 CNY 25.13 CHINA GOVERNMENT INTERNAT 2.50 10/26/51 USD 72.31 CHINA GOVERNMENT INTERNAT 2.50 10/26/51 USD 72.28 CHINA GOVERNMENT INTERNAT 1.00 11/12/39 EUR 72.07 CHINA GOVERNMENT INTERNAT 2.25 10/21/50 USD 68.68 CHINA GOVERNMENT INTERNAT 2.25 10/21/50 USD 68.63 CHINA GRAND AUTOMOTIVE SE 9.13 01/30/24 USD 60.08 CHINA SECURITY CO LTD 4.45 11/11/19 CNY 31.00 CHISHUI CITY CONSTRUCTION 8.50 01/18/26 CNY 72.00 CHONGQIN BAIYAN INVESTMEN 5.75 05/03/23 CNY 20.05 CHONGQIN BAIYAN INVESTMEN 5.75 05/03/23 CNY 20.00 CHONGQIN XINLIANG INVESTM 4.76 08/26/23 CNY 19.89 CHONGQIN XINLIANG INVESTM 4.76 08/26/23 CNY 19.83 CHONGQING BAYUAN CONSTRUC 4.99 08/16/23 CNY 19.82 CHONGQING BISHAN DISTRICT 4.93 03/29/23 CNY 20.08 CHONGQING BISHAN DISTRICT 4.93 03/29/23 CNY 19.99 CHONGQING DAZU YONGSHENG 6.48 07/24/24 CNY 40.65 CHONGQING DAZU YONGSHENG 6.48 07/24/24 CNY 40.65 CHONGQING ECO&TECH DEVELO 3.95 04/13/23 CNY 20.00 CHONGQING ECO&TECH DEVELO 3.95 04/13/23 CNY 19.98 CHONGQING HECHUAN CITY CO 3.95 09/06/23 CNY 19.98 CHONGQING HECHUAN CITY CO 3.95 09/06/23 CNY 19.93 CHONGQING HONGYE INDUSTRY 6.30 08/02/24 CNY 40.59 CHONGQING HONGYE INDUSTRY 6.30 08/02/24 CNY 40.16 CHONGQING HONGYE INDUSTRY 6.45 11/27/24 CNY 40.11 CHONGQING JIANGJIN DISTRI 6.40 09/13/24 CNY 40.64 CHONGQING JIANGJIN DISTRI 6.40 09/13/24 CNY 40.00 CHONGQING JIANGLAI INDUST 7.50 10/26/25 CNY 63.30 CHONGQING JIANGLAI INDUST 7.50 10/26/25 CNY 60.00 CHONGQING JIN TONG INDUST 6.50 08/01/24 CNY 40.69 CHONGQING JIN TONG INDUST 4.44 11/16/23 CNY 19.92 CHONGQING JIN TONG INDUST 4.44 11/16/23 CNY 18.94 CHONGQING JINYUN ASSET MA 4.50 12/31/22 CNY 20.09 CHONGQING JINYUN ASSET MA 4.50 12/31/22 CNY 20.01 CHONGQING KAIQIAN INVESTM 4.64 03/21/23 CNY 19.99 CHONGQING KAIQIAN INVESTM 4.64 03/21/23 CNY 19.97 CHONGQING LAND PROPERTIES 3.36 03/21/23 CNY 19.95 CHONGQING LAND PROPERTIES 3.36 03/21/23 CNY 19.95 CHONGQING LIANGJIANG NEW 4.28 02/28/24 CNY 71.40 CHONGQING LIANGJIANG NEW 4.28 02/28/24 CNY 70.54 CHONGQING LIANGSHAN CONST 6.30 10/16/24 CNY 40.76 CHONGQING LIANGSHAN CONST 6.30 10/16/24 CNY 40.76 CHONGQING MAIRUI URBAN CO 4.95 04/21/23 CNY 20.04 CHONGQING MAIRUI URBAN CO 4.95 04/21/23 CNY 20.03 CHONGQING NANCHUAN CITY C 4.20 07/11/23 CNY 19.96 CHONGQING NANCHUAN CITY C 4.20 07/11/23 CNY 19.92 CHONGQING QIJIANG EAST NE 4.00 09/05/23 CNY 19.87 CHONGQING QIJIANG EAST NE 4.00 09/05/23 CNY 19.76 CHONGQING SHUANGFU CONSTR 6.37 10/13/24 CNY 40.09 CHONGQING SHUANGFU CONSTR 6.37 10/13/24 CNY 40.00 CHONGQING TONGLIANG JINLO 6.80 02/11/25 CNY 61.21 CHONGQING TONGLIANG JINLO 6.80 02/11/25 CNY 60.00 CHONGQING TONGNAN DISTRIC 4.99 12/31/22 CNY 19.99 CHONGQING TONGNAN DISTRIC 4.99 12/31/22 CNY 19.66 CHONGQING WANSHENG ECO & 7.50 03/27/25 CNY 62.13 CHONGQING WANSHENG ECO & 7.50 03/27/25 CNY 62.00 CHONGQING WANSHENG ECO & 7.09 05/03/25 CNY 61.78 CHONGQING WANSHENG ECO & 7.09 05/03/25 CNY 61.12 CHONGQING WANSHENG ECO DE 6.60 02/17/27 CNY 71.43 CHONGQING WULONG DISTRICT 6.80 12/28/24 CNY 60.00 CHONGQING WULONG DISTRICT 6.80 12/28/24 CNY 59.68 CHONGQING WULONG DISTRICT 6.80 09/21/24 CNY 40.94 CHONGQING WULONG DISTRICT 6.80 09/21/24 CNY 40.00 CHONGQING XINGRONG HOLDIN 4.86 03/31/23 CNY 20.00 CHONGQING XINGRONG HOLDIN 4.86 03/31/23 CNY 18.50 CHONGQING YINGDI INDUSTRI 7.00 11/07/24 CNY 40.31 CHONGQING YINGDI INDUSTRI 7.00 11/07/24 CNY 40.00 CHONGQING YUDIAN STATE-OW 8.00 11/30/25 CNY 63.05 CHONGQING YUZHONG STATE-O 6.90 02/08/25 CNY 61.64 CHONGQING YUZHONG STATE-O 6.90 02/08/25 CNY 61.00 CHONGREN URBAN CONSTRUCTI 7.00 03/08/25 CNY 61.54 CHUN'AN XINANJIANG DEVELO 3.84 11/04/23 CNY 20.02 CHUN'AN XINANJIANG DEVELO 3.84 11/04/23 CNY 19.83 CHUYING AGRO-PASTORA GROU 8.80 06/26/19 CNY 20.00 CHUZHOU CITY NANQIAO DIST 5.95 10/23/24 CNY 40.77 CHUZHOU CITY NANQIAO DIST 5.95 10/23/24 CNY 40.00 CIFI GROUP CO LTD 3.80 05/29/25 CNY 65.50 CIFI GROUP CO LTD 3.90 09/14/25 CNY 57.50 CIFI GROUP CO LTD 4.75 03/14/26 CNY 50.07 CIFI GROUP CO LTD 4.40 03/12/26 CNY 47.00 CIFI GROUP CO LTD 4.20 07/22/26 CNY 45.50 CIFI GROUP CO LTD 4.50 05/29/25 CNY 41.02 CITIC GUOAN GROUP CORP 4.49 03/08/21 CNY 18.25 CITIC GUOAN GROUP CORP 4.23 12/15/20 CNY 18.25 CITIC GUOAN GROUP CORP 5.80 12/15/19 CNY 18.25 CITIC GUOAN GROUP CORP 4.90 11/06/19 CNY 18.25 CIXI STATE OWNED ASSET IN 4.90 04/07/24 CNY 40.18 CIXI STATE OWNED ASSET IN 4.90 04/07/24 CNY 40.16 COUNTRY GARDEN REAL ESTAT 4.98 11/20/23 CNY 80.00 COUNTRY GARDEN REAL ESTAT 4.80 03/12/26 CNY 73.20 COUNTRY GARDEN REAL ESTAT 4.80 06/15/26 CNY 71.32 COUNTRY GARDEN REAL ESTAT 4.50 05/24/25 CNY 60.84 DAFANG COUNTY CONSTRUCTIO 6.00 09/26/23 CNY 20.23 DAFANG COUNTY CONSTRUCTIO 6.00 09/26/23 CNY 19.48 DALI HAIDONG DEVELOPMENT 6.01 01/25/23 CNY 20.04 DALI HAIDONG DEVELOPMENT 6.01 01/25/23 CNY 19.55 DALIAN SHITAI CITY CONSTR 4.50 02/01/23 CNY 20.00 DALIAN SHITAI CITY CONSTR 4.50 02/01/23 CNY 19.75 DANGTU COUNTY CONSTRUCTIO 7.47 09/06/25 CNY 62.85 DANGTU COUNTY CONSTRUCTIO 7.47 09/06/25 CNY 60.00 DANGYANG XINYUAN INVESTME 4.97 03/29/23 CNY 20.04 DANGYANG XINYUAN INVESTME 4.97 03/29/23 CNY 19.95 DANYANG INVESTMENT GROUP 5.49 07/18/24 CNY 40.53 DANYANG INVESTMENT GROUP 3.99 01/25/23 CNY 19.99 DASHIQIAO URBAN CONSTRUCT 7.59 08/14/24 CNY 41.16 DASHIQIAO URBAN CONSTRUCT 7.59 08/14/24 CNY 41.16 DAWA COUNTY LINGANG ECO N 5.99 10/19/24 CNY 40.55 DAYE ZHENHENG CITY DEVELO 7.20 12/03/25 CNY 67.51 DAYE ZHENHENG CITY DEVELO 7.20 12/03/25 CNY 62.59 DAYE ZHENHENG CITY DEVELO 4.50 03/28/23 CNY 19.83 DAYE ZHENHENG CITY DEVELO 4.50 03/28/23 CNY 19.77 DAYE ZHENHENG CITY DEVELO 4.05 08/31/23 CNY 19.50 DAYE ZHENHENG CITY DEVELO 4.05 08/31/23 CNY 19.42 DAZHOU INVESTMENT CO LTD 6.50 04/07/27 CNY 73.13 DAZHOU INVESTMENT CO LTD 6.50 04/07/27 CNY 72.10 DAZHOU INVESTMENT CO LTD 3.99 11/04/26 CNY 59.49 DAZHOU INVESTMENT CO LTD 3.99 11/04/26 CNY 59.20 DEQING CONSTRUCTION INVES 3.60 11/11/23 CNY 19.83 DEXING INVESTMENT HOLDING 5.99 03/21/23 CNY 25.90 DEXING INVESTMENT HOLDING 5.99 03/21/23 CNY 20.04 DINGYUAN URBAN RURAL DEVE 7.00 06/27/25 CNY 62.29 DINGYUAN URBAN RURAL DEVE 7.00 06/27/25 CNY 60.00 DINGYUAN URBAN RURAL DEVE 5.80 12/06/24 CNY 40.80 DINGYUAN URBAN RURAL DEVE 5.80 12/06/24 CNY 40.00 DONGTAI STATE-OWNED ASSET 3.04 11/16/23 CNY 20.03 DONGZHI COUNTY CITY OPERA 4.88 06/20/23 CNY 20.04 DONGZHI COUNTY CITY OPERA 4.88 06/20/23 CNY 19.98 DUJIANGYAN NEW CITY CONST 7.80 10/11/25 CNY 62.97 DUJIANGYAN NEW CITY CONST 7.80 05/02/25 CNY 62.25 DUJIANGYAN NEW CITY CONST 7.80 05/02/25 CNY 60.00 DUJIANGYAN NEW CITY CONST 7.80 10/11/25 CNY 57.50 DUJIANGYAN NEW CITY CONST 6.90 10/19/24 CNY 41.03 DUNYUN STATE-OWNED ASSETS 6.60 12/28/22 CNY 19.92 ENSHI URBAN CONSTRUCTION 3.84 11/01/23 CNY 19.74 ENSHI URBAN CONSTRUCTION 3.84 11/01/23 CNY 19.73 EVERGRANDE REAL ESTATE GR 5.80 10/19/25 CNY 70.00 EVERGRANDE REAL ESTATE GR 6.80 05/06/24 CNY 35.69 EVERGRANDE REAL ESTATE GR 5.90 05/26/23 CNY 35.00 EVERGRANDE REAL ESTATE GR 6.27 05/06/23 CNY 30.00 EVERGRANDE REAL ESTATE GR 7.00 04/27/26 CNY 27.68 EVERGRANDE REAL ESTATE GR 6.98 01/08/23 CNY 27.00 EVERGRANDE REAL ESTATE GR 6.98 01/08/23 CNY 8.38 EZHOU CITY CONSTRUCTION I 6.10 07/27/27 CNY 71.29 FANGCHENG GANGSHI WENLV G 7.95 10/11/25 CNY 62.43 FANGCHENG GANGSHI WENLV G 7.95 10/11/25 CNY 60.00 FANTASIA GROUP CHINA CO L 7.50 12/17/23 CNY 74.00 FANTASIA GROUP CHINA CO L 7.80 11/29/24 CNY 44.83 FEICHENG CITY ASSETS MANA 4.04 03/23/23 CNY 19.95 FEICHENG CITY ASSETS MANA 4.04 03/23/23 CNY 19.95 FEIXI COUNTY URBAN & RURA 4.45 06/03/23 CNY 27.50 FEIXI COUNTY URBAN & RURA 4.45 06/03/23 CNY 20.11 FENG COUNTY ECONOMIC DEVE 5.18 06/21/23 CNY 20.03 FENG COUNTY ECONOMIC DEVE 5.18 06/21/23 CNY 19.77 FENGCHENG CITY MODERN IND 5.76 12/17/22 CNY 20.00 FENGCHENG CITY MODERN IND 5.76 12/17/22 CNY 19.99 FENGDU COUNTY STATE-OWNED 6.38 09/05/24 CNY 40.36 FENGDU COUNTY STATE-OWNED 6.38 09/05/24 CNY 40.00 FENGHUANG MINGCHENG CONST 6.50 03/23/24 CNY 40.45 FENGTAI HUAXING CITY DEVE 5.60 03/13/24 CNY 40.35 FENGTAI HUAXING CITY DEVE 5.60 03/13/24 CNY 40.27 FENGYANG COUNTY ECONOMY D 6.00 11/16/24 CNY 42.00 FENGYANG COUNTY ECONOMY D 6.00 11/16/24 CNY 41.10 FENYI CITY CONSTRUCTION I 4.54 08/22/23 CNY 19.92 FENYI CITY CONSTRUCTION I 4.54 08/22/23 CNY 19.88 FUJIAN FUSHENG GROUP CO L 7.90 11/19/21 CNY 60.00 FUJIAN JINJIANG URBAN CON 3.35 08/24/23 CNY 20.05 FUJIAN ZHANGZHOU CITY INV 5.73 10/31/25 CNY 61.84 FUJIAN ZHANGZHOU CITY INV 5.73 10/31/25 CNY 60.00 FUNING URBAN INVESTMENT D 6.00 03/14/24 CNY 41.01 FUNING URBAN INVESTMENT D 6.00 03/14/24 CNY 40.49 FUYANG ANJU INVESTMENT MA 5.48 05/02/23 CNY 60.28 FUZHOU CHANGLE DISTRICT S 4.50 04/11/23 CNY 20.07 FUZHOU CHANGLE DISTRICT S 4.50 04/11/23 CNY 19.98 FUZHOU DEVELOPMENT ZONE S 3.53 08/25/23 CNY 19.90 FUZHOU DEVELOPMENT ZONE S 3.53 08/25/23 CNY 19.90 FUZHOU DONGXIANG INVESTME 6.20 03/20/24 CNY 40.52 FUZHOU DONGXIANG INVESTME 6.20 03/20/24 CNY 40.20 FUZHOU LINCHUAN URBAN CON 6.50 12/25/24 CNY 60.75 FUZHOU LINCHUAN URBAN CON 5.68 07/05/23 CNY 20.05 FUZHOU LINCHUAN URBAN CON 5.68 07/05/23 CNY 20.02 FUZHOU MUNICIPAL STATE OW 5.70 10/30/24 CNY 41.12 FUZHOU MUNICIPAL STATE OW 5.70 10/30/24 CNY 40.00 GANSU PROVINCIAL HIGHWAY 6.20 03/28/23 CNY 40.24 GANZHOU DEVELOPMENT INVES 8.10 12/11/23 CNY 40.94 GANZHOU NANKANG DISTRICT 8.00 10/29/25 CNY 63.30 GANZHOU NANKANG DISTRICT 8.00 09/27/25 CNY 60.24 GANZHOU NANKANG DISTRICT 8.00 10/29/25 CNY 60.00 GANZHOU NANKANG DISTRICT 8.00 09/27/25 CNY 60.00 GANZHOU ZHANGGONG CONSTRU 7.80 10/16/25 CNY 62.68 GANZHOU ZHANGGONG CONSTRU 7.80 10/16/25 CNY 61.60 GAOMI CITY CONSTRUCTION I 5.95 09/18/24 CNY 40.00 GAOMI CITY CONSTRUCTION I 5.95 09/18/24 CNY 39.10 GAOMI STATE-OWNED ASSETS 4.69 01/26/23 CNY 19.99 GAOMI STATE-OWNED ASSETS 4.69 01/26/23 CNY 19.89 GAOQING LU QING ASSET MAN 7.50 09/27/24 CNY 41.55 GAOQING LU QING ASSET MAN 7.50 09/27/24 CNY 39.97 GAOYOU CITY ECONOMY DEVEL 5.26 07/13/24 CNY 40.46 GAOYOU CITY ECONOMY DEVEL 3.65 09/02/23 CNY 20.00 GAOYOU CITY ECONOMY DEVEL 3.65 09/02/23 CNY 19.92 GLP CHINA HOLDINGS LTD 4.00 07/02/24 CNY 75.00 GLP CHINA HOLDINGS LTD 2.95 03/29/26 USD 71.00 GOME APPLIANCE CO LTD 7.80 12/21/24 CNY 37.00 GONG'AN COUNTY CITY CONST 4.30 08/30/23 CNY 19.92 GONG'AN COUNTY CITY CONST 4.30 08/30/23 CNY 19.85 GONGQINGCHENG FINANCIAL M 5.85 03/25/23 CNY 20.06 GONGQINGCHENG FINANCIAL M 5.85 03/25/23 CNY 20.05 GUANGAN ECONOMIC & TECHNO 5.16 04/14/23 CNY 20.01 GUANGAN ECONOMIC & TECHNO 5.16 04/14/23 CNY 19.97 GUANGAN TRANSPORTATION IN 5.39 12/01/23 CNY 20.10 GUANGAN XINHONG INVESTMEN 7.18 08/28/24 CNY 40.82 GUANGDE CITY STATE-OWNED 5.37 07/18/24 CNY 40.90 GUANGDE CITY STATE-OWNED 5.37 07/18/24 CNY 40.42 GUANGDONG HUIZHOU COMMUNI 4.95 12/27/23 CNY 40.38 GUANGDONG HUIZHOU COMMUNI 4.95 12/27/23 CNY 40.03 GUANGDONG HUIZHOU COMMUNI 4.16 05/17/23 CNY 20.06 GUANGDONG HUIZHOU COMMUNI 4.16 05/17/23 CNY 19.95 GUANGSHUI CITY DEVELOPMEN 6.19 03/01/24 CNY 40.45 GUANGSHUI CITY DEVELOPMEN 6.19 03/01/24 CNY 40.44 GUANGXI BAISE BAI DONG IN 7.90 06/29/25 CNY 62.56 GUANGXI BAISE BAI DONG IN 7.90 06/29/25 CNY 60.00 GUANGXI CHONGZUO URBAN CO 8.50 09/26/25 CNY 62.02 GUANGXI CHONGZUO URBAN CO 8.50 09/26/25 CNY 60.00 GUANGXI LIUZHOU DONGCHENG 6.50 07/24/24 CNY 46.23 GUANGXI LIUZHOU INVESTMEN 4.28 03/08/23 CNY 19.48 GUANGXI NINGMING HUINING 8.50 12/07/25 CNY 80.81 GUANGXI TIANDONG COUNTY L 7.50 06/04/27 CNY 50.00 GUANGYUAN CITY DEVELOPMEN 7.50 10/25/27 CNY 57.10 GUANGYUAN YUANQU CONSTRUC 4.48 03/10/23 CNY 19.98 GUANGYUAN YUANQU CONSTRUC 4.48 03/10/23 CNY 19.94 GUANGZHOU FINELAND REAL E 13.60 07/27/23 USD 45.00 GUANGZHOU HEJING HOLDING 6.19 11/12/25 CNY 75.00 GUANGZHOU HEJING HOLDING 6.00 10/12/25 CNY 58.00 GUANGZHOU HUANTOU NANSHA 6.38 11/18/24 CNY 30.58 GUANGZHOU HUANTOU NANSHA 6.38 11/18/24 CNY 30.35 GUANGZHOU METRO GROUP CO 6.45 04/02/24 CNY 30.65 GUANGZHOU METRO GROUP CO 6.05 06/03/24 CNY 30.45 GUANGZHOU METRO GROUP CO 6.45 04/02/24 CNY 30.00 GUANGZHOU PANYU INFORMATI 4.50 09/08/26 CNY 59.75 GUANGZHOU PANYU INFORMATI 4.50 09/08/26 CNY 59.74 GUANGZHOU R&F PROPERTIES 6.70 04/07/23 CNY 59.06 GUANGZHOU R&F PROPERTIES 6.48 05/09/24 CNY 40.00 GUANGZHOU R&F PROPERTIES 7.00 01/03/23 CNY 28.00 GUANGZHOU TIMES HOLDING G 5.24 05/27/25 CNY 28.60 GUANGZHOU TIMES HOLDING G 5.10 03/30/25 CNY 28.20 GUANGZHOU TIMES HOLDING G 5.94 07/17/25 CNY 28.20 GUANGZHOU TIMES HOLDING G 5.00 02/24/25 CNY 28.10 GUCHENG CONSTRUCTION INVE 7.88 04/27/25 CNY 62.39 GUCHENG CONSTRUCTION INVE 7.88 04/27/25 CNY 60.00 GUIXI STATE OWNED HOLDING 4.18 08/18/23 CNY 19.99 GUIXI STATE OWNED HOLDING 4.18 08/18/23 CNY 19.85 GUIYANG BAIYUN INDUSTRY D 8.30 03/21/25 CNY 60.86 GUIYANG BAIYUN INDUSTRY D 8.30 03/21/25 CNY 60.00 GUIYANG BAIYUN URBAN CONS 4.75 09/13/26 CNY 59.75 GUIYANG BAIYUN URBAN CONS 4.75 09/13/26 CNY 56.65 GUIYANG BAIYUN URBAN CONS 7.28 09/25/24 CNY 40.07 GUIYANG BAIYUN URBAN CONS 7.28 09/25/24 CNY 40.00 GUIYANG BAIYUN URBAN CONS 6.48 07/17/24 CNY 40.00 GUIYANG BAIYUN URBAN CONS 6.48 07/17/24 CNY 38.30 GUIYANG CITY CONSTRUCTION 4.37 03/25/26 CNY 57.48 GUIYANG CITY CONSTRUCTION 4.37 03/25/26 CNY 56.91 GUIYANG CITY CONSTRUCTION 4.00 11/14/26 CNY 55.41 GUIYANG CITY CONSTRUCTION 4.00 11/14/26 CNY 55.40 GUIYANG ECONOMIC DEVELOPM 7.50 04/30/26 CNY 70.40 GUIYANG ECONOMIC DEVELOPM 7.90 10/29/25 CNY 63.19 GUIYANG ECONOMIC DEVELOPM 6.35 09/21/24 CNY 38.07 GUIYANG GUANSHANHU DISTRI 6.49 06/22/24 CNY 40.60 GUIYANG GUANSHANHU DISTRI 6.49 06/22/24 CNY 38.25 GUIYANG GUANSHANHU DISTRI 4.48 03/09/23 CNY 19.98 GUIYANG GUANSHANHU DISTRI 4.87 01/28/23 CNY 19.92 GUIYANG GUANSHANHU DISTRI 4.87 01/28/23 CNY 19.90 GUIYANG GUANSHANHU DISTRI 4.48 03/09/23 CNY 19.80 GUIYANG GUANSHANHU INVEST 8.20 04/30/24 CNY 72.15 GUIYANG GUANSHANHU INVEST 7.50 12/25/22 CNY 40.03 GUIYANG INVESTMENT HOLDIN 4.46 11/17/26 CNY 55.96 GUIYANG INVESTMENT HOLDIN 4.46 11/17/26 CNY 54.19 GUIYANG URBAN CONSTRUCTIO 5.98 07/21/24 CNY 40.16 GUIYANG URBAN CONSTRUCTIO 5.98 07/21/24 CNY 40.00 GUIYANG YUNYAN GUIZHONG R 6.80 11/17/24 CNY 41.04 GUIYANG YUNYAN GUIZHONG R 6.80 11/17/24 CNY 40.00 GUIZHOU EAST LAKE CITY CO 8.00 12/07/25 CNY 63.47 GUIZHOU EAST LAKE CITY CO 8.00 12/07/25 CNY 54.26 GUIZHOU EAST LAKE CITY CO 5.18 01/06/23 CNY 19.96 GUIZHOU HONGCAI INVESTMEN 6.00 06/07/23 CNY 10.05 GUIZHOU HONGCAI INVESTMEN 6.00 06/07/23 CNY 9.64 GUIZHOU HONGGUO ECONOMIC 7.80 02/08/25 CNY 60.05 GUIZHOU HONGGUO ECONOMIC 7.80 02/08/25 CNY 53.00 GUIZHOU HONGGUO ECONOMIC 7.80 11/24/24 CNY 40.37 GUIZHOU HONGGUO ECONOMIC 7.80 11/24/24 CNY 30.00 GUIZHOU KAILI KAIYUAN CIT 7.28 08/29/24 CNY 41.09 GUIZHOU KAILI KAIYUAN CIT 7.30 05/26/24 CNY 40.85 GUIZHOU KAILI KAIYUAN CIT 7.30 05/26/24 CNY 39.95 GUIZHOU KAILI KAIYUAN CIT 7.28 08/29/24 CNY 36.20 GUIZHOU LIUPANSHUI PANDEN 7.30 07/24/24 CNY 41.07 GUIZHOU LIUPANSHUI PANDEN 7.30 07/24/24 CNY 36.01 GUIZHOU RAILWAY INVESTMEN 7.50 04/23/24 CNY 30.56 GUIZHOU SHUICHENG CITY IN 4.98 11/22/23 CNY 20.01 GUIZHOU SHUICHENG CITY IN 4.98 11/22/23 CNY 19.04 GUIZHOU SHUICHENG ECONOMI 7.50 10/26/25 CNY 62.78 GUIZHOU SHUICHENG ECONOMI 7.50 10/26/25 CNY 19.50 GUIZHOU SHUICHENG WATER I 8.00 11/27/25 CNY 52.62 GUIZHOU SHUICHENG WATER I 8.00 11/27/25 CNY 49.01 GUIZHOU XINDONGGUAN CIVIL 7.70 09/05/24 CNY 41.29 GUIZHOU ZHONGSHAN DEVELOP 6.46 11/22/27 CNY 73.13 GUIZHOU ZHONGSHAN DEVELOP 6.46 11/22/27 CNY 70.00 GULIN STATE-OWNED ASSETS 5.96 07/24/24 CNY 44.51 GULIN STATE-OWNED ASSETS 5.96 07/24/24 CNY 40.55 GULIN STATE-OWNED ASSETS 4.18 08/04/23 CNY 19.92 GULIN STATE-OWNED ASSETS 4.18 08/04/23 CNY 19.64 GUOSHENG FINANCIAL HOLDIN 6.30 12/21/22 CNY 6.70 HAIAN DEVELOPMENT ZONE CO 4.47 11/16/23 CNY 20.02 HAIAN DEVELOPMENT ZONE CO 4.47 11/16/23 CNY 19.96 HAIAN ECONOMIC TECHNOLOGY 5.45 04/13/23 CNY 20.09 HAIAN ECONOMIC TECHNOLOGY 5.45 04/13/23 CNY 20.04 HAIAN URBAN DEMOLITION & 7.74 05/02/25 CNY 61.54 HAIKOU MEILAN INTERNATION 5.25 09/06/19 USD 16.14 HAINAN AIRLINES HOLDING C 6.20 05/24/21 CNY 51.00 HAINING CITY DEVELOPMENT 5.47 11/13/25 CNY 61.47 HAINING CITY DEVELOPMENT 5.47 11/13/25 CNY 60.00 HAINING CITY JIANSHAN DIS 6.98 09/10/25 CNY 65.00 HAINING CITY JIANSHAN DIS 6.98 09/10/25 CNY 63.11 HAINING CITY JIANSHAN DIS 6.15 11/15/25 CNY 60.15 HAINING CITY JIANSHAN DIS 6.15 11/15/25 CNY 60.00 HAIYAN COUNTY STATE-OWNED 5.80 06/12/24 CNY 40.65 HAMI JIANHUI STATE-OWNED- 3.90 09/21/23 CNY 19.76 HANCHENG CITY INVESTMENT 4.69 12/05/23 CNY 19.96 HANCHENG CITY INVESTMENT 4.69 12/05/23 CNY 19.89 HANCHUAN CITY HANRONG INV 4.25 07/18/23 CNY 19.93 HANCHUAN CITY HANRONG INV 4.25 07/18/23 CNY 19.83 HANGZHOU CANAL COMPREHENS 3.40 10/17/23 CNY 20.03 HANGZHOU CANAL COMPREHENS 3.40 10/17/23 CNY 19.94 HANGZHOU FUYANG 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INDUSTRIAL 4.47 07/20/23 CNY 19.81 JIANGSU ZHUFU INDUSTRIAL 4.47 07/20/23 CNY 18.41 JIANGXI HEJI INVESTMENT C 5.09 12/17/22 CNY 20.01 JIANGXI HEJI INVESTMENT C 5.09 12/17/22 CNY 19.99 JIANGXI HUANGGANGSHAN INV 7.90 10/08/25 CNY 63.61 JIANGXI HUANGGANGSHAN INV 7.90 10/08/25 CNY 61.63 JIANGXI HUKOU SHIZHONG DE 6.80 12/01/24 CNY 41.12 JIANGXI HUKOU SHIZHONG DE 6.80 12/01/24 CNY 41.05 JIANGXI JIHU DEVELOPMENT 7.50 04/10/25 CNY 61.95 JIANGXI JIHU DEVELOPMENT 6.80 02/07/25 CNY 61.27 JIANGXI JIHU DEVELOPMENT 7.50 04/10/25 CNY 60.00 JIANGXI JIHU DEVELOPMENT 6.80 02/07/25 CNY 60.00 JIANGXI LONGHU MOUNTAIN T 4.35 03/16/23 CNY 19.98 JIANGXI LONGHU MOUNTAIN T 4.35 03/16/23 CNY 19.94 JIANGXI PINGXIANG CHANGSH 6.00 08/11/24 CNY 40.44 JIANGXI PINGXIANG CHANGSH 6.00 08/11/24 CNY 40.00 JIANGXI XIUSHUI CITY INVE 7.40 12/08/24 CNY 60.69 JIANLI FENGYUAN CITY INVE 6.78 04/28/24 CNY 40.60 JIANLI FENGYUAN CITY INVE 6.78 04/28/24 CNY 40.59 JIANYANG DEVELOPMENT HOLD 3.93 11/10/23 CNY 19.72 JIANYANG DEVELOPMENT HOLD 3.93 11/10/23 CNY 19.60 JIANYANG MODERN INDUSTRY 6.00 04/24/24 CNY 40.38 JIANYANG MODERN INDUSTRY 6.00 04/24/24 CNY 40.33 JIAXING JIAXIU DEVELOPMEN 5.60 09/25/24 CNY 41.80 JIAXING JIAXIU DEVELOPMEN 5.60 09/25/24 CNY 40.85 JIAXING XIANGJIADANG DEVE 6.40 04/19/25 CNY 61.41 JIAXING XIANGJIADANG DEVE 6.40 04/19/25 CNY 60.00 JIAXING XIANGJIADANG DEVE 4.13 07/20/23 CNY 20.06 JIAXING XIANGJIADANG DEVE 3.87 09/21/23 CNY 19.97 JIAXING XIANGJIADANG DEVE 4.13 07/20/23 CNY 19.91 JIAXING XIANGJIADANG DEVE 3.87 09/21/23 CNY 19.90 JIAXING XIUHU DEVELOPMENT 6.80 04/16/25 CNY 61.68 JIAXING XIUHU DEVELOPMENT 6.80 04/16/25 CNY 60.00 JIAYU COUNTY URBAN TOWN C 6.50 01/19/24 CNY 40.37 JIAYU COUNTY URBAN TOWN C 5.70 03/23/24 CNY 40.24 JIAYU COUNTY URBAN TOWN C 6.50 01/19/24 CNY 40.11 JIAYU COUNTY URBAN TOWN C 5.70 03/23/24 CNY 39.89 JIAYU COUNTY URBAN TOWN C 5.70 01/19/23 CNY 20.03 JIAYU COUNTY URBAN TOWN C 5.70 01/19/23 CNY 20.01 JILIN CITY CONSTRUCTION H 3.80 01/27/23 CNY 19.98 JILIN ECONOMIC AND TECHNO 6.20 04/29/23 CNY 20.10 JILIN ECONOMIC AND TECHNO 6.20 04/29/23 CNY 20.10 JIN HUA RONG SHENG INVEST 6.85 12/27/24 CNY 61.16 JIN HUA RONG SHENG INVEST 6.85 12/27/24 CNY 60.00 JINGDEZHEN CERAMIC CULTUR 7.50 08/27/25 CNY 62.44 JINGDEZHEN CERAMIC CULTUR 7.50 08/27/25 CNY 61.65 JINGJIANG BINJIANG XINCHE 5.37 07/25/24 CNY 40.41 JINGJIANG BINJIANG XINCHE 5.37 07/25/24 CNY 40.00 JINGMEN DONGBAO DISTRICT 7.30 03/23/25 CNY 62.12 JINGMEN DONGBAO DISTRICT 7.30 03/23/25 CNY 60.00 JINGMEN HIGH-TECH DEVELOP 4.15 07/28/23 CNY 19.85 JINGMEN HIGH-TECH DEVELOP 4.15 07/28/23 CNY 19.85 JINGSHAN JINGCHENG INVEST 7.00 02/07/25 CNY 61.74 JINGSHAN JINGCHENG INVEST 7.00 02/07/25 CNY 60.00 JINGSHAN JINGCHENG INVEST 4.38 08/29/23 CNY 20.01 JINGSHAN JINGCHENG INVEST 4.38 08/29/23 CNY 19.87 JINGXIAN STATED-OWNED ASS 6.80 02/09/25 CNY 60.99 JINGXIAN STATED-OWNED ASS 6.80 02/09/25 CNY 60.00 JINGZHOU DEVELOPMENT ZONE 4.87 09/23/26 CNY 57.98 JINGZHOU DEVELOPMENT ZONE 4.87 09/23/26 CNY 57.62 JINGZHOU URBAN CONSTRUCTI 5.68 07/20/24 CNY 41.70 JINGZHOU URBAN CONSTRUCTI 5.68 07/20/24 CNY 40.48 JINGZHOU URBAN CONSTRUCTI 3.97 03/10/23 CNY 20.03 JINGZHOU URBAN CONSTRUCTI 3.97 03/10/23 CNY 19.97 JINING CITY SHIZHONG DIST 3.52 09/14/23 CNY 19.89 JINING CITY SHIZHONG DIST 3.52 09/14/23 CNY 19.80 JINING HIGH TECH URBAN CO 5.88 04/25/23 CNY 40.27 JINING NEW CITY DEVELOPME 7.60 03/23/25 CNY 60.00 JINING NEW CITY DEVELOPME 7.60 03/23/25 CNY 59.92 JINING PORT & SHIPPING LI 7.00 06/01/25 CNY 67.93 JINING PORT & SHIPPING LI 7.00 11/27/24 CNY 41.17 JINKE PROPERTIES GROUP CO 6.30 02/20/25 CNY 33.00 JINKE PROPERTIES GROUP CO 6.30 06/24/25 CNY 31.00 JINKE PROPERTIES GROUP CO 6.30 03/04/25 CNY 31.00 JINKE PROPERTIES GROUP CO 6.20 01/28/25 CNY 30.50 JINKE PROPERTIES GROUP CO 5.00 05/28/24 CNY 30.00 JINKE PROPERTIES GROUP CO 6.00 07/08/23 CNY 29.10 JINKE PROPERTIES GROUP CO 6.85 05/28/24 USD 17.00 JINSHA COUNTY CONSTRUCTIO 6.01 09/05/23 CNY 20.16 JINSHA COUNTY CONSTRUCTIO 6.01 09/05/23 CNY 19.52 JINTANG MODERN AGRICULTUR 5.49 07/14/23 CNY 20.09 JINTANG MODERN AGRICULTUR 5.49 07/14/23 CNY 20.09 JINXIAN COUNTY CITY CONST 6.20 07/24/24 CNY 40.49 JINZHAI URBAN DEVELOPMENT 5.90 04/25/23 CNY 20.06 JINZHAI URBAN DEVELOPMENT 5.90 04/25/23 CNY 20.06 JINZHOU CIHANG GROUP CO L 9.00 04/05/20 CNY 33.63 JISHOU HUATAI STATE OWNED 6.50 06/21/24 CNY 40.82 JISHOU HUATAI STATE OWNED 6.50 06/21/24 CNY 40.80 JISHOU HUATAI STATE OWNED 6.45 09/11/24 CNY 40.22 JISHOU HUATAI STATE OWNED 6.45 09/11/24 CNY 40.00 JIUJIANG LIANXI DISTRICT 4.58 03/30/23 CNY 20.03 JIUJIANG LIANXI DISTRICT 4.58 03/30/23 CNY 19.98 JUNAN COUNTY URBAN CONSTR 7.50 09/26/24 CNY 41.27 JUNAN COUNTY URBAN CONSTR 7.50 09/26/24 CNY 38.00 JURONG URBAN CONSTRUCTION 6.89 09/18/24 CNY 44.84 JURONG URBAN CONSTRUCTION 6.89 09/18/24 CNY 41.00 JURONG URBAN CONSTRUCTION 6.80 11/06/24 CNY 40.95 JURONG URBAN CONSTRUCTION 6.80 11/06/24 CNY 40.00 KAIDI ECOLOGICAL AND ENVI 8.50 11/21/18 CNY 72.46 KAIDI ECOLOGICAL AND ENVI 7.00 12/15/19 CNY 10.00 KAIDI ECOLOGICAL AND ENVI 6.10 09/07/19 CNY 2.92 KAIFENG DEVELOPMENT INVES 6.10 09/08/27 CNY 72.20 KAIFENG DEVELOPMENT INVES 6.10 09/08/27 CNY 70.00 KAIFU CITY DEVELOPMENT CO 4.20 01/21/23 CNY 20.18 KAIFU CITY DEVELOPMENT CO 4.20 01/21/23 CNY 19.99 KAIFU CITY DEVELOPMENT CO 3.73 08/22/23 CNY 19.94 KAIFU CITY DEVELOPMENT CO 3.73 08/22/23 CNY 19.84 KAILI GUIZHOU TOWN CONSTR 5.29 12/17/22 CNY 20.00 KAILI GUIZHOU TOWN CONSTR 5.29 12/17/22 CNY 19.99 KAILI GUIZHOU TOWN CONSTR 4.20 10/13/23 CNY 19.44 KAILI GUIZHOU TOWN CONSTR 4.20 10/13/23 CNY 18.87 KANGMEI PHARMACEUTICAL CO 6.33 01/27/22 CNY 36.69 KANGMEI PHARMACEUTICAL CO 5.47 09/15/22 CNY 20.50 KANGMEI PHARMACEUTICAL CO 5.29 08/16/22 CNY 20.50 KANGMEI PHARMACEUTICAL CO 5.20 07/17/22 CNY 20.50 KANGMEI PHARMACEUTICAL CO 6.80 06/28/21 CNY 20.50 KANGMEI PHARMACEUTICAL CO 7.00 06/21/21 CNY 20.50 KANGMEI PHARMACEUTICAL CO 5.50 04/20/21 CNY 20.50 KANGMEI PHARMACEUTICAL CO 6.10 03/28/21 CNY 20.50 KANGMEI PHARMACEUTICAL CO 6.28 03/20/21 CNY 20.50 KUNMING DIANCHI INVESTMEN 5.75 07/24/24 CNY 37.50 KUNMING DIANCHI INVESTMEN 5.75 07/24/24 CNY 35.32 KUNSHAN CITY CONSTRUCTION 5.70 04/24/25 CNY 61.21 KUNSHAN YINQIAO HOLDING G 5.50 10/18/24 CNY 44.10 KUNSHAN YINQIAO HOLDING G 5.50 10/18/24 CNY 41.08 LAI AN URBAN INFRASTRUCTU 6.50 04/18/25 CNY 61.59 LAOHEKOU CITY CONSTRUCTIO 6.49 08/16/24 CNY 40.00 LAOHEKOU CITY CONSTRUCTIO 6.49 08/16/24 CNY 39.83 LEPING STATE-OWNED ASSETS 3.70 10/20/23 CNY 19.99 LEPING STATE-OWNED ASSETS 3.70 10/20/23 CNY 19.86 LEQING CITY STATE OWNED I 6.79 12/14/24 CNY 61.49 LEQING CITY STATE OWNED I 6.79 12/14/24 CNY 60.00 LIANYUNGANG HENGCHI INDUS 7.40 10/27/24 CNY 40.00 LIANYUNGANG HENGCHI INDUS 7.45 09/22/24 CNY 39.70 LIANYUNGANG HENGCHI INDUS 7.45 09/22/24 CNY 39.41 LIANYUNGANG HENGCHI INDUS 7.40 10/27/24 CNY 39.41 LIAOCHENG ANTAI URBAN RUR 5.16 04/11/23 CNY 20.01 LIAOCHENG ANTAI URBAN RUR 4.58 04/11/23 CNY 19.98 LIAOCHENG ANTAI URBAN RUR 4.58 04/11/23 CNY 19.98 LIAOCHENG ANTAI URBAN RUR 5.16 04/11/23 CNY 19.82 LIAOCHENG XINGYE HOLDINGS 5.20 04/13/23 CNY 19.76 LIAOCHENG XINGYE HOLDINGS 5.20 04/13/23 CNY 19.76 LIAONING GUANLONG CONSTRU 4.70 11/10/23 CNY 19.98 LIAONING GUANLONG CONSTRU 4.70 11/10/23 CNY 19.78 LILING HIGH-TECH INDUSTRI 4.93 01/19/23 CNY 19.98 LINFEN YAODU DISTRICT INV 7.50 09/19/25 CNY 63.13 LINQU YISHAN INDUSTRIAL C 7.20 11/23/24 CNY 40.07 LINQU YISHAN INDUSTRIAL C 7.20 11/23/24 CNY 40.00 LINWU SHUNFA URBAN CONSTR 7.00 08/23/24 CNY 40.18 LINWU SHUNFA URBAN CONSTR 7.00 08/23/24 CNY 40.00 LINYI CITY DEVELOPMENT GR 3.85 11/22/23 CNY 20.10 LINYI CITY DEVELOPMENT GR 3.85 11/22/23 CNY 19.83 LINYI COUNTY CITY DEVELOP 7.78 03/21/25 CNY 61.40 LINYI COUNTY CITY DEVELOP 7.78 03/21/25 CNY 60.00 LINYI ZHENDONG CONSTRUCTI 7.50 12/06/25 CNY 62.92 LINYI ZHENDONG CONSTRUCTI 7.50 12/06/25 CNY 60.00 LINYI ZHENDONG CONSTRUCTI 7.50 11/26/25 CNY 60.00 LINYI ZHENDONG CONSTRUCTI 7.50 11/26/25 CNY 59.24 LIUPANSHUI CITY TRAFFIC I 5.98 05/02/24 CNY 39.50 LIUPANSHUI DEVELOPMENT IN 3.74 01/20/23 CNY 20.00 LIUPANSHUI DEVELOPMENT IN 3.74 01/20/23 CNY 19.97 LIUPANSHUI MINSHENG INVES 5.08 01/29/23 CNY 19.76 LIUYANG MODERN MANUFACTUR 5.88 08/10/24 CNY 42.26 LIUYANG MODERN MANUFACTUR 5.88 08/10/24 CNY 40.69 LIUYANG MODERN MANUFACTUR 5.75 05/02/24 CNY 40.50 LIUYANG MODERN MANUFACTUR 5.75 05/02/24 CNY 40.39 LIUYANG MODERN MANUFACTUR 4.72 01/19/23 CNY 19.99 LIUYANG MODERN MANUFACTUR 4.72 01/19/23 CNY 19.98 LIUYANG URBAN CONSTRUCTIO 4.45 05/24/23 CNY 20.11 LIUYANG URBAN CONSTRUCTIO 4.45 05/24/23 CNY 19.97 LIUZHI SPECIAL DISTRICT W 7.00 11/16/24 CNY 41.12 LIUZHI SPECIAL DISTRICT W 7.00 11/16/24 CNY 40.00 LIUZHOU CITY INVESTMENT C 7.18 12/31/22 CNY 15.02 LIUZHOU CITY INVESTMENT C 7.18 12/31/22 CNY 14.90 LIUZHOU DONGTONG INVESTME 4.45 07/22/23 CNY 19.39 LIUZHOU DONGTONG INVESTME 4.45 07/22/23 CNY 19.19 LIUZHOU LONGJIAN INVESTME 7.00 09/21/27 CNY 70.00 LIUZHOU LONGJIAN INVESTME 7.00 09/21/27 CNY 62.96 LIUZHOU LONGJIAN INVESTME 8.28 04/30/24 CNY 29.86 LIUZHOU LONGJIAN INVESTME 8.28 04/30/24 CNY 28.80 LONGCHANG DEVELOPMENT CON 7.09 10/31/24 CNY 40.64 LONGCHANG DEVELOPMENT CON 7.09 10/31/24 CNY 40.00 LONGYAN RAILWAY CONSTRUCT 4.98 04/13/23 CNY 20.00 LONGYAN RAILWAY CONSTRUCT 4.98 04/13/23 CNY 19.99 LOUDI TIDU INVESTMENT DEV 4.83 01/20/23 CNY 20.00 LOUDI TIDU INVESTMENT DEV 4.83 01/20/23 CNY 19.99 LOUDI WANBAO NEW DISTRICT 5.13 02/01/23 CNY 20.00 LOUDI WANBAO NEW DISTRICT 4.42 08/01/23 CNY 19.95 LOUDI WANBAO NEW DISTRICT 4.42 08/01/23 CNY 19.94 LOUDI WANBAO NEW DISTRICT 5.13 02/01/23 CNY 19.94 LU'AN JIN'AN DISTRICT URB 5.95 07/24/24 CNY 40.51 LUJIANG CITY CONSTRUCTION 5.89 05/02/25 CNY 61.34 LUOYANG CITY COUNTRY CONS 4.28 04/26/23 CNY 20.10 LUOYANG CITY COUNTRY CONS 4.28 04/26/23 CNY 20.00 LUOYANG XIYUAN STATE-OWNE 7.50 11/15/25 CNY 66.50 LUOYANG XIYUAN STATE-OWNE 7.50 11/15/25 CNY 59.62 LUXI URBAN CONSTRUCTION I 6.80 10/27/24 CNY 40.33 LUXI URBAN CONSTRUCTION I 6.80 10/27/24 CNY 40.00 LUZHOU FUYANG INVESTMENT 5.00 08/11/23 CNY 19.98 LUZHOU FUYANG INVESTMENT 5.00 08/11/23 CNY 19.97 LUZHOU HUIXING INVESTMENT 6.28 10/19/24 CNY 41.16 LUZHOU HUIXING INVESTMENT 6.28 10/19/24 CNY 40.24 LUZHOU INDUSTRIAL DEVELOP 7.20 04/12/25 CNY 60.51 LUZHOU INDUSTRIAL DEVELOP 7.20 04/12/25 CNY 60.00 LUZHOU LIN GANG INVESTMEN 7.10 02/07/25 CNY 61.35 LUZHOU LIN GANG INVESTMEN 7.10 02/07/25 CNY 60.30 LUZHOU LIN GANG INVESTMEN 7.00 12/01/24 CNY 41.13 LUZHOU LIN GANG INVESTMEN 7.00 12/01/24 CNY 40.00 LUZHOU XINGLU INVESTMENT 6.41 04/23/25 CNY 46.20 LUZHOU XINGLU INVESTMENT 6.41 04/23/25 CNY 45.00 LUZHOU XINGYANG INVESTMEN 4.87 01/28/23 CNY 20.00 LUZHOU XINGYANG INVESTMEN 4.87 01/28/23 CNY 19.99 MA'ANSHAN CIHU HIGH TECHN 3.90 11/28/23 CNY 20.04 MAANSHAN NINGBO INVESTMEN 7.80 11/29/25 CNY 63.21 MAANSHAN NINGBO INVESTMEN 7.80 11/29/25 CNY 60.00 MAANSHAN NINGBO INVESTMEN 7.50 04/18/26 CNY 32.00 MAANSHAN SOUTHERN INDUSTR 4.53 07/25/23 CNY 19.98 MAANSHAN SOUTHERN INDUSTR 4.43 09/02/23 CNY 19.96 MAANSHAN SOUTHERN INDUSTR 4.53 07/25/23 CNY 19.96 MAANSHAN SOUTHERN INDUSTR 4.43 09/02/23 CNY 19.94 MAANSHAN YUSHAN CITY DEVE 5.85 09/22/24 CNY 40.46 MAANSHAN YUSHAN CITY DEVE 5.85 09/22/24 CNY 40.46 MAANSHAN YUSHAN CITY DEVE 5.62 07/31/24 CNY 40.30 MAANSHAN YUSHAN CITY DEVE 5.62 07/31/24 CNY 40.30 MA'ANSHAN ZHENGPU HARBOR 6.80 03/19/25 CNY 61.65 MA'ANSHAN ZHENGPU HARBOR 6.80 03/19/25 CNY 60.00 MA'ANSHAN ZHENGPU HARBOR 6.00 10/13/24 CNY 44.26 MA'ANSHAN ZHENGPU HARBOR 6.00 10/13/24 CNY 40.75 MEISHAN CITY DONGPO DEVEL 8.08 08/16/25 CNY 62.98 MEISHAN CITY DONGPO DEVEL 8.08 08/16/25 CNY 60.00 MEISHAN CITY DONGPO DEVEL 5.90 06/30/23 CNY 20.10 MEISHAN CITY DONGPO DEVEL 5.90 06/30/23 CNY 20.02 MEISHAN HONGDA CONSTRUCTI 4.18 03/28/23 CNY 19.91 MEISHAN HONGDA CONSTRUCTI 4.18 03/28/23 CNY 19.90 MEISHAN MINDONG DEVELOPME 6.78 08/08/24 CNY 40.17 MEISHAN MINDONG DEVELOPME 6.78 08/08/24 CNY 40.17 MEIZHOU MEI COUNTY DISTRI 5.00 12/30/22 CNY 20.01 MEIZHOU MEI COUNTY DISTRI 5.00 12/30/22 CNY 20.00 MENGCHENG COUNTY URBAN DE 5.60 09/21/24 CNY 40.51 MENGZHOU INVESTMENT AND D 8.00 11/06/25 CNY 63.35 MENGZHOU INVESTMENT AND D 8.00 09/03/25 CNY 63.01 MENGZHOU INVESTMENT AND D 8.00 11/06/25 CNY 60.00 MENGZHOU INVESTMENT AND D 8.00 09/03/25 CNY 60.00 MENGZI CITY DEVELOPMENT I 7.65 09/25/24 CNY 41.31 MENGZI CITY DEVELOPMENT I 7.65 09/25/24 CNY 41.31 MIANYANG ANZHOU INVESTMEN 8.10 05/04/25 CNY 62.52 MIANYANG ANZHOU INVESTMEN 8.10 11/22/25 CNY 62.42 MIANYANG ANZHOU INVESTMEN 8.10 11/22/25 CNY 60.00 MIANYANG ANZHOU INVESTMEN 8.10 05/04/25 CNY 59.00 MIANYANG HONGDA ASSET INV 7.20 09/29/24 CNY 41.16 MIANYANG HONGDA ASSET INV 7.20 09/29/24 CNY 40.00 MIANYANG HUIDONG INVESTME 8.10 04/28/25 CNY 62.91 MIANYANG HUIDONG INVESTME 8.10 02/10/25 CNY 61.65 MILE AGRICULTURAL INVESTM 8.00 10/25/25 CNY 59.88 MILE AGRICULTURAL INVESTM 8.00 10/25/25 CNY 59.00 MINGGUANG YUELONG INVESTM 6.54 05/03/25 CNY 61.28 MUDANJIANG LONGSHENG INVE 7.50 09/27/25 CNY 62.65 MUNICIPALITY OF SHENZHEN 3.31 01/14/27 CNY 75.00 MUNICIPALITY OF SHENZHEN 3.31 01/14/27 CNY 75.00 MUNICIPALITY OF SHENZHEN 2.80 05/19/27 CNY 74.69 MUNICIPALITY OF SHENZHEN 2.80 05/19/27 CNY 74.00 MUNICIPALITY OF SHENZHEN 2.80 05/19/27 CNY 74.00 MUNICIPALITY OF SHENZHEN 3.37 03/29/26 CNY 71.90 MUNICIPALITY OF SHENZHEN 3.50 06/18/29 CNY 71.26 MUNICIPALITY OF SHENZHEN 3.37 03/29/26 CNY 71.17 MUNICIPALITY OF SHENZHEN 3.37 03/29/26 CNY 71.17 MUNICIPALITY OF SHENZHEN 3.50 06/18/29 CNY 70.00 MUNICIPALITY OF SHENZHEN 3.50 06/18/29 CNY 70.00 MUNICIPALITY OF SHENZHEN 3.34 06/18/24 CNY 67.10 MUNICIPALITY OF SHENZHEN 3.34 06/18/24 CNY 66.66 MUNICIPALITY OF SHENZHEN 3.34 06/18/24 CNY 66.66 MUNICIPALITY OF SHENZHEN 3.27 03/29/24 CNY 65.28 MUNICIPALITY OF SHENZHEN 3.27 03/29/24 CNY 65.00 MUNICIPALITY OF SHENZHEN 3.27 03/29/24 CNY 65.00 MUNICIPALITY OF SHENZHEN 3.15 01/14/25 CNY 62.67 MUNICIPALITY OF SHENZHEN 3.15 01/14/25 CNY 62.50 MUNICIPALITY OF SHENZHEN 3.15 01/14/25 CNY 62.50 MUNICIPALITY OF SHENZHEN 3.37 03/29/26 CNY 55.20 MUNICIPALITY OF SHENZHEN 3.37 03/29/26 CNY 54.49 MUNICIPALITY OF SHENZHEN 3.37 03/29/26 CNY 54.49 MUNICIPALITY OF SHENZHEN 3.37 03/29/26 CNY 50.43 MUNICIPALITY OF SHENZHEN 3.37 03/29/26 CNY 50.00 MUNICIPALITY OF SHENZHEN 3.37 03/29/26 CNY 50.00 NANCHANG CITY CONSTRUCTIO 3.58 09/12/26 CNY 70.90 NANCHANG CITY CONSTRUCTIO 3.58 09/12/26 CNY 69.94 NANCHANG ECONOMY TECHNOLO 3.83 09/22/23 CNY 19.95 NANCHANG ECONOMY TECHNOLO 3.83 09/22/23 CNY 19.90 NANCHONG JIALING DEVELOPM 7.98 05/23/25 CNY 62.53 NANCHONG JIALING DEVELOPM 7.98 05/23/25 CNY 60.00 NANCHONG JIALING DEVELOPM 7.80 12/12/24 CNY 41.68 NANCHONG JIALING DEVELOPM 7.80 12/12/24 CNY 40.00 NANJING BAIXIA STATE-OWNE 3.98 03/29/23 CNY 20.03 NANJING BAIXIA STATE-OWNE 3.98 03/29/23 CNY 19.98 NANJING BINJIANG INVESTME 5.77 11/30/25 CNY 61.42 NANJING BINJIANG INVESTME 5.77 11/30/25 CNY 60.00 NANJING JIANGBEI NEW DIST 6.90 06/15/25 CNY 65.88 NANJING JIANGBEI NEW DIST 6.90 06/15/25 CNY 62.56 NANJING JIANGBEI NEW DIST 6.00 12/06/24 CNY 41.03 NANJING JIANGBEI NEW DIST 6.00 12/06/24 CNY 40.00 NANJING JIANGBEI NEW TOWN 5.59 09/26/24 CNY 42.50 NANJING JIANGBEI NEW TOWN 5.59 09/26/24 CNY 40.49 NANJING JIANGNING ECONOMI 7.94 04/14/24 CNY 31.24 NANJING JIANGNING URBAN C 3.48 11/11/23 CNY 19.88 NANJING JIANGNING URBAN C 3.48 11/11/23 CNY 19.81 NANJING JIANYE SCIENCE & 4.37 06/24/23 CNY 20.12 NANJING JIANYE SCIENCE & 4.37 06/24/23 CNY 19.99 NANJING LISHUI ECONOMIC A 3.41 11/09/23 CNY 19.85 NANJING LISHUI URBAN CONS 5.40 07/31/25 CNY 63.87 NANJING LISHUI URBAN CONS 5.40 07/31/25 CNY 60.55 NANJING LISHUI URBAN CONS 4.97 04/28/23 CNY 20.05 NANJING LISHUI URBAN CONS 4.97 04/28/23 CNY 20.02 NANJING METRO GROUP CO LT 4.22 11/28/23 CNY 40.63 NANJING METRO GROUP CO LT 4.22 11/28/23 CNY 40.30 NANJING METRO GROUP CO LT 3.29 08/29/23 CNY 20.03 NANJING METRO GROUP CO LT 3.29 08/29/23 CNY 20.00 NANJING PUKOU COMMUNICATI 5.46 07/19/24 CNY 40.42 NANJING QIXIA STATE-OWNED 4.10 06/24/23 CNY 19.99 NANJING QIXIA STATE-OWNED 4.10 06/24/23 CNY 19.94 NANJING STATE OWNED ASSET 5.60 03/06/23 CNY 15.04 NANLING COUNTY CONSTRUCTI 6.20 09/06/24 CNY 40.10 NANLING COUNTY CONSTRUCTI 6.20 09/06/24 CNY 40.00 NANNING HI-TECH INDUSTRIA 4.28 03/25/23 CNY 20.00 NANNING HI-TECH INDUSTRIA 3.82 10/20/23 CNY 19.83 NANNING HI-TECH INDUSTRIA 3.82 10/20/23 CNY 19.80 NANNING HI-TECH INDUSTRIA 4.28 03/25/23 CNY 15.20 NANTONG CITY TONGZHOU DIS 4.88 04/10/24 CNY 40.48 NANTONG CITY TONGZHOU DIS 3.75 07/07/23 CNY 19.95 NANTONG KAIYUAN INVESTMEN 7.25 11/29/24 CNY 40.92 NANTONG KAIYUAN INVESTMEN 7.25 11/29/24 CNY 40.90 NANTONG SHIBEI HI-TECH DE 5.98 08/07/24 CNY 40.54 NANTONG SHIBEI HI-TECH DE 5.98 08/07/24 CNY 40.44 NANTONG YUNTONG PORT DEVE 6.13 08/10/24 CNY 41.00 NANTONG YUNTONG PORT DEVE 6.13 08/10/24 CNY 40.68 NANYANG HI-TECH DEVELOPME 6.45 04/29/23 CNY 20.13 NANYANG HI-TECH DEVELOPME 6.45 04/29/23 CNY 20.04 NANZHANG COUNTY CONSTRUCT 6.00 01/20/24 CNY 40.36 NANZHANG COUNTY CONSTRUCT 6.58 10/25/24 CNY 40.00 NANZHANG COUNTY CONSTRUCT 6.00 01/20/24 CNY 39.99 NANZHANG COUNTY CONSTRUCT 6.58 10/25/24 CNY 39.90 NEIJIANG CITY XINGYUAN IN 4.28 08/16/23 CNY 19.93 NEIJIANG CITY XINGYUAN IN 4.28 08/16/23 CNY 19.92 NEIJIANG STATE-OWNED ASSE 6.20 04/12/23 CNY 20.12 NEIJIANG STATE-OWNED ASSE 6.20 04/12/23 CNY 20.01 NEIJINAG CONSTRUCTION ENG 5.03 12/25/22 CNY 20.00 NEIJINAG CONSTRUCTION ENG 5.03 12/25/22 CNY 16.36 NEOGLORY HOLDING GROUP CO 8.10 11/23/18 CNY 72.00 NEOGLORY HOLDING GROUP CO 8.00 09/25/20 CNY 60.00 NEOGLORY HOLDING GROUP CO 8.00 10/22/20 CNY 56.00 NINGGUO CITY STATE OWNED 7.14 08/07/24 CNY 40.80 NINGGUO CITY STATE OWNED 7.14 08/07/24 CNY 40.62 NINGXIA SHENG YAN INDUSTR 7.50 09/27/23 CNY 42.45 NINGXIANG CITY CONSTRUCTI 6.00 06/02/26 CNY 60.86 NINGXIANG ECONOMIC TECHNO 3.87 01/27/23 CNY 19.97 NINGXIANG STATE-OWNED ASS 4.89 06/03/23 CNY 20.03 NINGXIANG STATE-OWNED ASS 4.89 06/03/23 CNY 20.00 NINGXIANG STATE-OWNED ASS 3.88 11/02/23 CNY 19.90 NINGXIANG STATE-OWNED ASS 3.88 11/02/23 CNY 19.84 ONE BELT ONE ROAD JIANGSU 4.70 07/15/23 CNY 20.07 ONE BELT ONE ROAD JIANGSU 4.70 07/15/23 CNY 20.07 PANJIN WATER GROUP CO LTD 5.18 10/28/23 CNY 19.32 PEIXIAN ECONOMIC DEVELOPM 6.20 10/24/25 CNY 62.78 PEIXIAN STATE-OWNED ASSET 5.98 07/19/24 CNY 41.34 PEIXIAN STATE-OWNED ASSET 5.98 07/19/24 CNY 40.00 PEKING UNIVERSITY FOUNDER 6.30 03/04/24 CNY 11.00 PEKING UNIVERSITY FOUNDER 6.50 11/16/23 CNY 11.00 PEKING UNIVERSITY FOUNDER 6.68 08/09/23 CNY 11.00 PEKING UNIVERSITY FOUNDER 5.80 01/28/22 CNY 11.00 PEKING UNIVERSITY FOUNDER 5.99 11/02/21 CNY 11.00 PEKING UNIVERSITY FOUNDER 6.10 08/22/21 CNY 11.00 PEKING UNIVERSITY FOUNDER 4.80 07/26/21 CNY 11.00 PEKING UNIVERSITY FOUNDER 6.30 09/12/20 CNY 11.00 PEKING UNIVERSITY FOUNDER 6.15 07/23/20 CNY 11.00 PEKING UNIVERSITY FOUNDER 6.20 05/31/20 CNY 11.00 PENGSHAN DEVELOPMENT HOLD 7.98 05/03/25 CNY 62.83 PENGSHAN DEVELOPMENT HOLD 7.98 05/03/25 CNY 61.59 PENGSHAN DEVELOPMENT HOLD 7.00 09/05/24 CNY 40.60 PENGSHAN DEVELOPMENT HOLD 7.00 09/05/24 CNY 40.00 PENGZE CITY DEVELOPMENT I 7.60 08/31/25 CNY 62.61 PENGZE CITY DEVELOPMENT I 7.00 04/19/25 CNY 61.59 PENGZE CITY DEVELOPMENT I 7.60 08/31/25 CNY 61.34 PENGZE CITY DEVELOPMENT I 7.00 04/19/25 CNY 60.00 PENGZHOU STATE-PENGZHOU S 3.95 10/20/23 CNY 19.54 PINGDU STATE-OWNED ASSET 6.05 07/11/25 CNY 63.40 PINGDU STATE-OWNED ASSET 6.05 07/11/25 CNY 61.43 PINGHU CITY INVESTMENT DE 5.13 04/29/23 CNY 20.08 PINGHU CITY INVESTMENT DE 5.13 04/29/23 CNY 20.01 PINGJIANG COUNTY WATER SU 6.64 06/27/26 CNY 59.02 PINGXIANG CHANGXING INVES 5.26 04/11/23 CNY 20.02 PINGXIANG CHANGXING INVES 5.26 04/11/23 CNY 19.89 PINGXIANG HUIFENG INVESTM 5.79 09/21/24 CNY 40.48 PINGXIANG HUIFENG INVESTM 5.79 09/21/24 CNY 40.41 PINGYANG STATE-OWNED ASSE 6.90 08/24/27 CNY 74.08 PINGYANG STATE-OWNED ASSE 6.90 08/24/27 CNY 70.00 PINGYANG STATE-OWNED ASSE 4.97 01/08/23 CNY 20.00 PINGYANG STATE-OWNED ASSE 4.97 01/08/23 CNY 20.00 PIZHOU ECONOMIC DEVELOPME 6.66 09/19/24 CNY 47.00 PIZHOU ECONOMIC DEVELOPME 6.66 09/19/24 CNY 40.56 POYANG INVESTMENT & DEVEL 6.53 08/08/24 CNY 40.32 POYANG INVESTMENT & DEVEL 6.53 08/08/24 CNY 40.00 PROVINCE OF HEBEI CHINA 3.22 09/19/24 CNY 70.50 PROVINCE OF HEBEI CHINA 3.22 09/19/24 CNY 70.50 PROVINCE OF HEBEI CHINA 3.17 08/22/24 CNY 70.43 PROVINCE OF HEBEI CHINA 3.17 08/22/24 CNY 70.43 PROVINCE OF HEBEI CHINA 3.17 08/22/24 CNY 70.43 PROVINCE OF HEBEI CHINA 3.17 08/22/24 CNY 70.43 PROVINCE OF HEBEI CHINA 3.22 09/19/24 CNY 70.00 PROVINCE OF HEBEI CHINA 3.22 09/19/24 CNY 70.00 PROVINCE OF HEBEI CHINA 3.22 09/19/24 CNY 70.00 PROVINCE OF HEBEI CHINA 3.22 09/19/24 CNY 70.00 PROVINCE OF HEBEI CHINA 3.17 08/22/24 CNY 70.00 PROVINCE OF HEBEI CHINA 3.17 08/22/24 CNY 70.00 PROVINCE OF HEBEI CHINA 3.17 08/22/24 CNY 70.00 PROVINCE OF HEBEI CHINA 3.17 08/22/24 CNY 70.00 PROVINCE OF HEBEI CHINA 3.17 08/22/24 CNY 70.00 PROVINCE OF HEBEI CHINA 3.17 08/22/24 CNY 70.00 PROVINCE OF HEBEI CHINA 3.17 08/22/24 CNY 70.00 PROVINCE OF HEBEI CHINA 3.17 08/22/24 CNY 70.00 PUCHENG INVESTMENT DEVELO 6.57 08/10/24 CNY 40.61 PUCHENG INVESTMENT DEVELO 6.57 08/10/24 CNY 40.00 PUDING YELANG STATE-OWNED 8.00 03/13/25 CNY 65.00 PUDING YELANG STATE-OWNED 8.00 03/13/25 CNY 55.87 PUDING YELANG 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INVESTMENT 4.36 05/12/23 CNY 20.06 QINGDAO OCEAN INVESTMENT 4.36 05/12/23 CNY 19.95 QINGDAO SHAOHAI INVESTMEN 6.47 10/31/24 CNY 61.08 QINGDAO SHAOHAI INVESTMEN 6.47 10/31/24 CNY 40.82 QINGHAI PROVINCIAL INVEST 7.25 02/22/20 USD 28.90 QINGHAI PROVINCIAL INVEST 7.88 03/22/21 USD 20.02 QINGHAI PROVINCIAL INVEST 6.40 07/10/21 USD 20.02 QINGZHOU CITY CONSTRUCTIO 6.40 07/10/24 CNY 40.00 QINGZHOU CITY CONSTRUCTIO 6.80 08/25/24 CNY 38.94 QINGZHOU CITY CONSTRUCTIO 6.40 07/10/24 CNY 38.45 QINGZHOU CITY CONSTRUCTIO 6.80 08/25/24 CNY 38.00 QINHUANGDAO CITY DEVELOPM 4.69 04/14/23 CNY 20.08 QINHUANGDAO CITY DEVELOPM 4.69 04/14/23 CNY 19.97 QINHUANGDAO DEVELOPMENT Z 4.07 08/26/23 CNY 19.90 QINHUANGDAO DEVELOPMENT Z 4.07 08/26/23 CNY 19.89 QUANJIAO URBAN INFRASTRUC 5.10 05/18/23 CNY 20.06 QUANJIAO URBAN INFRASTRUC 5.10 05/18/23 CNY 20.04 QUJING ECO TECH DEVELOPME 5.75 06/01/23 CNY 20.08 QUJING ECO TECH DEVELOPME 5.75 06/01/23 CNY 20.08 RED STAR MACALLINE HOLDIN 6.50 11/07/24 CNY 29.05 RENHUAI CITY DEVELOPMENT 5.12 04/14/23 CNY 20.04 RENHUAI CITY DEVELOPMENT 5.12 04/14/23 CNY 19.79 RENHUAI WATER INVESTMENT 7.98 07/26/25 CNY 62.75 RENHUAI WATER INVESTMENT 7.98 02/24/25 CNY 58.82 RENSHOU DEVELOPMENT OF IN 6.42 12/22/22 CNY 20.01 RENSHOU DEVELOPMENT OF IN 6.42 12/22/22 CNY 20.00 REWARD SCIENCE AND TECHNO 6.40 03/03/22 CNY 70.00 REWARD SCIENCE AND TECHNO 5.53 07/05/21 CNY 29.10 RONGCHENG ECONOMIC DEVELO 5.75 04/24/25 CNY 62.79 RONGCHENG ECONOMIC DEVELO 5.75 04/24/25 CNY 61.10 RONGQIAO GROUP CO LTD 6.50 06/03/23 CNY 64.00 RONGXIN FUJIAN INVESTMENT 6.78 07/03/24 CNY 72.80 RONGXIN FUJIAN INVESTMENT 6.45 07/03/23 CNY 67.50 RONGXIN FUJIAN INVESTMENT 5.60 07/27/23 CNY 33.00 RONGXIN FUJIAN INVESTMENT 5.42 08/19/24 CNY 31.00 RUCHENG COUNTY URBAN CONS 5.69 02/23/24 CNY 50.44 RUCHENG COUNTY URBAN CONS 5.69 02/23/24 CNY 50.43 RUDONG COUNTY JINXIN TRAN 3.80 07/26/23 CNY 20.00 RUDONG COUNTY JINXIN TRAN 4.57 07/26/23 CNY 19.98 RUDONG COUNTY JINXIN TRAN 3.80 07/26/23 CNY 19.94 RUDONG COUNTY JINXIN TRAN 4.57 07/26/23 CNY 19.92 RUDONG COUNTY KAITAI CITY 4.57 01/08/23 CNY 20.01 RUDONG NEW WORLD INVESTME 4.37 07/18/23 CNY 19.99 RUDONG NEW WORLD INVESTME 4.37 07/18/23 CNY 19.88 RUGAO ECONOMIC & TRADE DE 3.95 03/24/23 CNY 20.04 RUGAO ECONOMIC & TRADE DE 3.95 03/24/23 CNY 19.97 RUGAO TRAFFIC INDUSTRY GR 3.74 03/23/23 CNY 20.00 RUGAO TRAFFIC INDUSTRY GR 3.74 03/23/23 CNY 19.98 RUIAN STATE OWNED ASSET I 4.56 01/27/23 CNY 20.00 RUIAN STATE OWNED ASSET I 4.56 01/27/23 CNY 19.99 RUICHANG CITY INVESTMENT 5.50 06/17/23 CNY 20.06 RUICHANG CITY INVESTMENT 5.68 03/25/23 CNY 20.02 RUIJIN URBAN DEVELOPMENT 4.13 09/06/23 CNY 19.99 RUIJIN URBAN DEVELOPMENT 4.13 09/06/23 CNY 19.79 RUSHAN INDUSTRIAL INVESTM 7.40 06/07/25 CNY 64.24 RUSHAN INDUSTRIAL INVESTM 7.40 06/07/25 CNY 62.36 RUZHOU CITY XINYUAN INVES 4.43 09/26/23 CNY 19.94 RUZHOU CITY XINYUAN INVES 4.43 09/26/23 CNY 19.34 SANMING INVESTMENT DEVELO 5.10 04/17/24 CNY 41.00 SANMING INVESTMENT DEVELO 5.10 04/17/24 CNY 40.26 SANMING TRANSPORTATION CO 3.68 03/29/23 CNY 19.95 SHAANXI XIXIAN NEW AREA A 5.10 06/06/23 CNY 19.91 SHAANXI XIXIAN NEW AREA A 5.10 06/06/23 CNY 19.86 SHAANXI XIXIAN NEW AREA F 7.10 08/23/24 CNY 40.98 SHAANXI XIXIAN NEW AREA F 7.10 08/23/24 CNY 39.79 SHAANXI XIXIAN NEW AREA J 6.67 08/23/24 CNY 43.20 SHAANXI XIXIAN NEW AREA J 6.67 08/23/24 CNY 40.79 SHANDONG RUYI TECHNOLOGY 7.90 09/18/23 CNY 52.10 SHANGHAI MUNICIPAL INVEST 4.80 11/05/24 CNY 30.49 SHANGHAI MUNICIPAL INVEST 4.80 11/05/24 CNY 30.00 SHANGHAI POWERLONG INDUST 6.60 01/11/26 CNY 43.00 SHANGHAI POWERLONG INDUST 6.50 08/27/23 CNY 34.00 SHANGHAI SHIMAO CO LTD 3.70 04/26/23 CNY 60.00 SHANGHAI SHIMAO CO LTD 4.15 05/22/23 CNY 47.70 SHANGHAI SHIMAO CO LTD 3.76 07/07/24 CNY 34.16 SHANGHAI SHIMAO CO LTD 4.24 10/21/23 CNY 34.00 SHANGHAI SHIMAO CO LTD 3.60 03/05/23 CNY 31.07 SHANGHAI SHIMAO CO LTD 3.99 09/01/24 CNY 28.56 SHANGHAI SHIMAO CO LTD 5.50 05/06/23 CNY 26.50 SHANGHAI SHIMAO CO LTD 5.15 03/16/23 CNY 26.50 SHANGHAI SHIMAO CO LTD 4.12 01/09/23 CNY 26.50 SHANGHAI SHIMAO CO LTD 3.94 09/24/24 CNY 24.00 SHANGHAI SHIMAO JIANSHE C 4.30 09/19/24 CNY 29.99 SHANGHAI SHIMAO JIANSHE C 3.20 05/11/25 CNY 26.30 SHANGHAI SHIMAO JIANSHE C 3.23 03/25/25 CNY 26.00 SHANGHAI SHIMAO JIANSHE C 3.90 03/25/27 CNY 21.91 SHANGHAI SHIMAO JIANSHE C 3.90 08/27/25 CNY 21.59 SHANGHAI SHIMAO JIANSHE C 4.30 11/11/24 CNY 17.00 SHANGHAI SHIMAO JIANSHE C 4.15 10/16/24 CNY 15.95 SHANGHAI SHIMAO JIANSHE C 4.80 11/11/26 CNY 14.50 SHANGHAI URBAN CONSTRUCTI 3.50 01/06/23 CNY 20.07 SHANGHAI URBAN CONSTRUCTI 3.50 01/06/23 CNY 20.00 SHANGLI INVESTMENT CO 7.50 06/01/25 CNY 62.14 SHANGLI INVESTMENT CO 7.50 06/01/25 CNY 59.72 SHANGRAO CITY STATE-OWNED 4.65 01/29/23 CNY 20.03 SHANGRAO CITY STATE-OWNED 4.65 01/29/23 CNY 19.99 SHANGRAO GUANGXIN URBAN C 7.95 07/24/25 CNY 60.96 SHANGRAO GUANGXIN URBAN C 7.95 07/24/25 CNY 60.83 SHANTOU INVESTMENT HOLDIN 7.99 03/04/24 CNY 31.10 SHANTOU INVESTMENT HOLDIN 7.99 03/04/24 CNY 30.73 SHANWEI INVESTMENT HOLDIN 5.68 11/09/24 CNY 42.15 SHANWEI INVESTMENT HOLDIN 5.68 11/09/24 CNY 40.71 SHAODONG NEW AREA DEVELOP 7.10 04/19/24 CNY 40.72 SHAODONG NEW AREA DEVELOP 7.10 04/19/24 CNY 40.72 SHAOGUAN URBAN INVESTMENT 3.67 10/25/24 CNY 39.47 SHAOGUAN URBAN INVESTMENT 3.67 10/25/24 CNY 39.45 SHAOSHAN HI-TECH CONSTRUC 8.00 05/02/25 CNY 61.04 SHAOSHAN HI-TECH CONSTRUC 8.00 05/02/25 CNY 60.86 SHAOXING KEQIAO CITY CONS 5.74 08/03/24 CNY 40.54 SHAOXING KEQIAO CITY CONS 5.74 08/03/24 CNY 40.00 SHAOXING KEQIAO CITY CONS 3.64 09/19/23 CNY 20.05 SHAOXING KEQIAO CITY CONS 3.64 09/19/23 CNY 19.85 SHAOXING KEYAN CONSTRUCTI 5.88 12/04/25 CNY 65.00 SHAOXING KEYAN CONSTRUCTI 5.88 12/04/25 CNY 61.95 SHAOXING SHANGYU ECONOMIC 4.76 04/11/23 CNY 20.07 SHAOXING SHANGYU ECONOMIC 4.76 04/11/23 CNY 20.04 SHAOYANG BAOQING INDUSTRI 5.78 07/04/26 CNY 54.23 SHAOYANG CITY CONSTRUCTIO 5.98 09/01/24 CNY 40.58 SHAOYANG CITY CONSTRUCTIO 5.98 09/01/24 CNY 40.00 SHAOYANG DULIANG INVESTME 5.50 04/13/23 CNY 20.04 SHAOYANG DULIANG INVESTME 5.50 04/13/23 CNY 19.87 SHAOYANG SAISHUANGQING CO 8.00 11/28/25 CNY 63.51 SHAOYANG SAISHUANGQING CO 7.20 03/26/25 CNY 60.96 SHAOYANG SAISHUANGQING CO 8.00 11/28/25 CNY 60.00 SHAOYANG SAISHUANGQING CO 7.20 03/26/25 CNY 60.00 SHEHONG STATE OWNED ASSET 7.50 08/22/25 CNY 62.97 SHEHONG STATE OWNED ASSET 7.60 10/25/25 CNY 61.90 SHEHONG STATE OWNED ASSET 7.30 12/14/24 CNY 61.69 SHEHONG STATE OWNED ASSET 7.60 10/22/25 CNY 60.12 SHEHONG STATE OWNED ASSET 7.60 10/25/25 CNY 60.00 SHEHONG STATE OWNED ASSET 7.60 10/22/25 CNY 60.00 SHEHONG STATE OWNED ASSET 7.50 08/22/25 CNY 60.00 SHEHONG STATE OWNED ASSET 7.30 12/14/24 CNY 60.00 SHENGZHOU INVESTMENT HOLD 5.35 07/20/24 CNY 40.41 SHENWU ENVIRONMENTAL TECH 9.00 03/14/19 CNY 1.50 SHENZHEN LOGAN HOLDINGS C 5.50 06/19/23 CNY 29.00 SHENZHEN LOGAN HOLDINGS C 4.90 03/25/25 CNY 21.07 SHENZHEN LOGAN HOLDINGS C 4.69 07/24/25 CNY 20.50 SHENZHEN LOGAN HOLDINGS C 4.80 06/24/25 CNY 19.90 SHENZHEN LOGAN HOLDINGS C 4.70 08/23/25 CNY 19.50 SHENZHEN LOGAN HOLDINGS C 4.80 09/14/25 CNY 19.00 SHENZHEN LOGAN HOLDINGS C 5.09 11/18/24 CNY 19.00 SHENZHEN LOGAN HOLDINGS C 4.80 01/08/25 CNY 18.50 SHENZHEN METRO GROUP CO L 6.75 01/24/24 CNY 30.42 SHENZHEN METRO GROUP CO L 5.40 03/25/23 CNY 15.05 SHENZHEN METRO GROUP CO L 5.40 03/25/23 CNY 15.00 SHEYANG URBAN CONSTRUCTIO 7.80 11/27/24 CNY 41.61 SHEYANG URBAN CONSTRUCTIO 7.80 11/27/24 CNY 40.44 SHIFANG CITY NATIONAL OWN 8.00 12/05/25 CNY 63.44 SHIFANG CITY NATIONAL OWN 8.00 12/05/25 CNY 60.00 SHIJIAZHUANG HUTUO NEW DI 5.28 12/24/25 CNY 45.61 SHIJIAZHUANG HUTUO NEW DI 5.28 12/24/25 CNY 45.00 SHINSUN REAL ESTATE GROUP 7.70 03/02/23 CNY 55.03 SHISHOU BOYA CITY CONSTRU 6.98 06/15/24 CNY 40.78 SHIYAN ECO DEVELOPMENT ZO 3.98 08/05/23 CNY 19.90 SHIYAN ECO DEVELOPMENT ZO 3.98 08/05/23 CNY 19.84 SHIYAN HANJIANG STAR CONS 6.40 07/10/24 CNY 40.52 SHIYAN STATE-OWNED CAPITA 4.88 01/11/26 CNY 60.24 SHIYAN STATE-OWNED CAPITA 4.88 01/11/26 CNY 60.13 SHIZHU TUJIA HONGSHENG EC 7.00 11/13/24 CNY 41.15 SHIZHU TUJIA HONGSHENG EC 7.00 11/13/24 CNY 32.00 SHOU COUNTY STATE-OWNED A 6.20 10/13/24 CNY 40.23 SHOU COUNTY STATE-OWNED A 6.20 10/13/24 CNY 40.00 SHOUGUANG HUINONG NEW RUR 6.50 10/16/27 CNY 75.45 SHUCHENG COUNTY URBAN CON 5.50 04/29/23 CNY 20.11 SHUCHENG COUNTY URBAN CON 5.50 04/29/23 CNY 20.09 SHUOZHOU INVESTMENT CONST 7.50 10/23/25 CNY 82.81 SHUOZHOU INVESTMENT CONST 7.50 10/23/25 CNY 62.75 SICHUAN CHENG'A DEVELOPME 7.25 01/28/24 CNY 70.37 SICHUAN CHENG'A DEVELOPME 7.50 11/29/24 CNY 41.57 SICHUAN CHENG'A DEVELOPME 7.50 11/06/24 CNY 41.54 SICHUAN CHENG'A DEVELOPME 7.50 11/29/24 CNY 40.00 SICHUAN CHENG'A DEVELOPME 7.50 11/06/24 CNY 40.00 SICHUAN COAL GASIFICATION 7.00 04/18/23 CNY 20.14 SICHUAN COAL INDUSTRY GRO 7.70 01/09/18 CNY 45.00 SICHUAN JINCAI JINXIN INV 7.08 07/31/24 CNY 40.92 SICHUAN JINCAI JINXIN INV 7.08 07/31/24 CNY 40.92 SICHUAN LANGUANG DEVELOPM 7.50 07/23/22 CNY 42.00 SICHUAN LANGUANG DEVELOPM 7.40 09/14/21 CNY 30.45 SICHUAN LANGUANG DEVELOPM 7.15 03/16/23 CNY 24.00 SICHUAN LANGUANG DEVELOPM 7.20 05/11/23 CNY 12.63 SICHUAN LANGUANG DEVELOPM 7.20 03/11/23 CNY 12.63 SICHUAN LANGUANG DEVELOPM 7.00 10/26/22 CNY 12.63 SICHUAN LANGUANG DEVELOPM 7.00 09/29/22 CNY 12.63 SICHUAN LANGUANG DEVELOPM 7.50 08/12/21 CNY 12.63 SICHUAN LANGUANG DEVELOPM 6.50 07/29/21 CNY 12.63 SICHUAN LANGUANG DEVELOPM 7.50 07/11/21 CNY 12.63 SICHUAN LANGZHONG FAMOUS 5.60 04/19/23 CNY 20.05 SICHUAN LANGZHONG FAMOUS 5.60 04/19/23 CNY 19.98 SICHUAN LONGYANG TIANFU N 5.45 05/27/23 CNY 20.08 SICHUAN LONGYANG TIANFU N 5.45 05/27/23 CNY 19.98 SICHUAN NAXING INDUSTRIAL 4.68 03/31/23 CNY 20.03 SICHUAN NAXING INDUSTRIAL 4.68 03/31/23 CNY 19.82 SICHUAN QINBA NEWCITY INV 6.91 07/25/24 CNY 40.84 SICHUAN QINBA NEWCITY INV 6.68 07/07/24 CNY 40.00 SICHUAN QINBA NEWCITY INV 6.91 07/25/24 CNY 39.80 SICHUAN QINBA NEWCITY INV 6.68 07/07/24 CNY 39.41 SICHUAN RENSHOU XINLONG W 7.00 06/27/24 CNY 40.84 SIHUI STATE OWNED ASSETS 4.59 01/14/23 CNY 20.00 SIHUI STATE OWNED ASSETS 4.59 01/14/23 CNY 19.99 SINO-OCEAN CAPITAL 5.30 09/09/23 CNY 45.00 SINO-OCEAN CAPITAL 5.30 06/10/24 CNY 30.00 SINO-OCEAN HOLDING GROUP 4.60 01/21/24 CNY 64.80 SINO-OCEAN HOLDING GROUP 4.59 03/20/26 CNY 62.05 SINO-OCEAN HOLDING GROUP 4.20 05/12/26 CNY 60.00 SINO-OCEAN HOLDING GROUP 4.76 10/19/25 CNY 53.10 SINO-OCEAN HOLDING GROUP 4.06 09/27/26 CNY 52.77 SINO-OCEAN HOLDING GROUP 5.00 08/19/25 CNY 52.00 SIXIAN CITY CONSCTRUCTION 6.50 04/16/25 CNY 61.59 SIXIAN CITY CONSCTRUCTION 6.50 04/16/25 CNY 60.00 SIYANG COUNTY MINKANG RUR 7.40 07/31/24 CNY 41.08 SIYANG COUNTY MINKANG RUR 7.40 07/31/24 CNY 41.07 SIYANG COUNTY MINKANG RUR 4.94 01/21/23 CNY 20.56 SIYANG COUNTY MINKANG RUR 4.94 01/21/23 CNY 20.01 SIYANG JIADING INDUSTRIAL 7.50 04/27/25 CNY 62.03 SIYANG JIADING INDUSTRIAL 7.50 04/27/25 CNY 62.02 SUINING COUNTY RUNQI INVE 6.78 11/02/24 CNY 41.30 SUINING COUNTY RUNQI INVE 6.78 11/02/24 CNY 41.07 SUINING FUYUAN INDUSTRY C 5.34 12/02/23 CNY 20.09 SUINING FUYUAN INDUSTRY C 5.34 12/02/23 CNY 19.59 SUINING KAIDA INVESTMENT 4.89 04/08/23 CNY 19.80 SUINING KAIDA INVESTMENT 4.89 04/08/23 CNY 19.78 SUINING ROUGANG INVESTMEN 6.80 08/02/24 CNY 40.76 SUINING ROUGANG INVESTMEN 6.80 08/02/24 CNY 40.76 SUINING ROUGANG INVESTMEN 5.65 01/24/24 CNY 40.14 SUINING TIANTAI INDUSTRIA 6.80 11/01/24 CNY 51.24 SUINING TIANTAI INDUSTRIA 6.80 11/01/24 CNY 50.00 SUINING TIANTAI INDUSTRIA 5.98 03/28/24 CNY 40.30 SUINING TIANTAI INDUSTRIA 5.98 03/28/24 CNY 40.29 SUIZHOU DEVELOPMENT INVES 5.97 09/15/24 CNY 41.02 SUIZHOU DEVELOPMENT INVES 5.70 04/07/24 CNY 40.80 SUIZHOU DEVELOPMENT INVES 5.70 04/07/24 CNY 40.22 SUIZHOU DEVELOPMENT INVES 5.97 09/15/24 CNY 40.00 SUIZHOU HIGH-TECH INDUSTR 4.47 03/25/23 CNY 19.98 SUIZHOU HIGH-TECH INDUSTR 4.47 03/25/23 CNY 19.95 SUNAC REAL ESTATE GROUP C 4.78 09/30/23 CNY 35.55 SUNAC REAL ESTATE GROUP C 6.80 08/16/24 CNY 28.00 SUNAC REAL ESTATE GROUP C 6.48 09/11/23 CNY 15.33 SUNAC REAL ESTATE GROUP C 5.60 05/27/25 CNY 15.02 SUNAC REAL ESTATE GROUP C 6.80 01/19/25 CNY 15.00 SUNAC REAL ESTATE GROUP C 7.00 04/02/25 CNY 14.97 SUNING APPLIANCE GROUP CO 7.30 05/10/23 CNY 49.31 SUNING APPLIANCE GROUP CO 7.30 01/29/23 CNY 48.43 SUNING APPLIANCE GROUP CO 7.30 06/16/23 CNY 43.36 SUNING APPLIANCE GROUP CO 7.30 06/28/23 CNY 21.60 SUNSHINE KAIDI NEW ENERGY 6.80 06/02/21 CNY 1.00 SUQIAN CITY CONSTRUCTION 6.44 12/26/24 CNY 61.17 SUQIAN CITY CONSTRUCTION 6.44 12/26/24 CNY 61.14 SUQIAN CITY CONSTRUCTION 5.30 07/11/24 CNY 40.32 SUQIAN CITY CONSTRUCTION 5.30 07/11/24 CNY 40.32 SUQIAN ECONOMIC DEVELOPME 5.40 04/20/24 CNY 41.88 SUQIAN ECONOMIC DEVELOPME 5.40 04/20/24 CNY 40.43 SUQIAN HI-TECH DEVELOPMEN 6.49 10/17/25 CNY 62.16 SUQIAN HI-TECH DEVELOPMEN 6.49 10/17/25 CNY 60.00 SUQIAN HI-TECH DEVELOPMEN 6.97 07/20/25 CNY 60.00 SUQIAN HUBIN XINCHENG INV 6.93 08/25/24 CNY 40.91 SUQIAN HUBIN XINCHENG INV 6.85 08/02/24 CNY 40.82 SUQIAN YUFENG ASSET MANAG 5.50 04/21/24 CNY 44.26 SUQIAN YUFENG ASSET MANAG 5.50 04/21/24 CNY 40.19 SUZHOU CITY CONSTRUCTION 3.89 03/24/23 CNY 20.01 SUZHOU CITY CONSTRUCTION 3.89 03/24/23 CNY 19.96 SUZHOU CITY HENGCHENG CON 4.40 03/01/23 CNY 20.01 SUZHOU CITY HENGCHENG CON 4.40 03/01/23 CNY 19.97 SUZHOU GAOXIN TOURISM IND 5.20 10/27/23 CNY 50.99 SUZHOU MAANSHAN INVESTMEN 6.10 08/03/24 CNY 40.75 SUZHOU MAANSHAN INVESTMEN 6.10 08/03/24 CNY 40.48 SUZHOU MUDU URBAN RURAL I 4.94 04/16/24 CNY 71.70 SUZHOU MUDU URBAN RURAL I 4.94 04/16/24 CNY 70.56 SUZHOU NEW & HIGH-TECH IN 4.18 03/23/23 CNY 19.96 SUZHOU NEW & HIGH-TECH IN 4.18 03/23/23 CNY 19.95 SUZHOU NEW AREA CONSTRUCT 5.98 08/04/24 CNY 40.33 SUZHOU NEW AREA CONSTRUCT 5.98 08/04/24 CNY 40.00 SUZHOU WUZHONG CITY CONST 6.50 02/01/25 CNY 61.15 SUZHOU WUZHONG CITY CONST 6.50 02/01/25 CNY 60.00 SUZHOU WUZHONG CITY CONST 5.90 11/06/24 CNY 40.68 SUZHOU WUZHONG CITY CONST 5.90 11/06/24 CNY 40.00 SUZHOU WUZHONG GUOTAI DEV 6.40 08/23/27 CNY 74.13 SUZHOU WUZHONG GUOTAI DEV 6.40 08/23/27 CNY 70.00 TAHOE GROUP CO LTD 7.50 10/10/20 CNY 29.60 TAHOE GROUP CO LTD 7.50 08/15/20 CNY 29.00 TAHOE GROUP CO LTD 8.50 08/02/21 CNY 25.00 TAHOE GROUP CO LTD 6.00 05/25/21 CNY 10.00 TAHOE GROUP CO LTD 7.20 05/25/21 CNY 5.00 TAIAN TAISHAN HOLDINGS CO 5.50 04/26/23 CNY 20.05 TAIAN TAISHAN HOLDINGS CO 5.50 04/26/23 CNY 20.05 TAIHE STATE OWN ASSET INV 5.87 08/07/24 CNY 43.35 TAIHE STATE OWN ASSET INV 5.87 08/07/24 CNY 40.81 TAIXING XINGHUANG INVESTM 8.50 11/15/25 CNY 63.96 TAIXING XINGHUANG INVESTM 8.50 11/15/25 CNY 61.08 TAIZHOU CITY CONSTRUCTION 6.92 10/16/23 CNY 15.34 TAIZHOU CITY HUANGYAN DIS 6.22 09/14/24 CNY 41.50 TAIZHOU CITY HUANGYAN DIS 6.10 08/01/24 CNY 41.13 TAIZHOU CITY HUANGYAN DIS 6.22 09/14/24 CNY 41.07 TAIZHOU CITY HUANGYAN DIS 6.10 08/01/24 CNY 41.02 TAIZHOU FENGCHENGHE CONST 5.48 11/07/25 CNY 63.20 TAIZHOU FENGCHENGHE CONST 7.90 12/29/24 CNY 61.93 TAIZHOU FENGCHENGHE CONST 5.48 11/07/25 CNY 61.23 TAIZHOU FENGCHENGHE CONST 7.90 12/29/24 CNY 60.00 TAIZHOU GAOGANG HI-TECH D 5.54 06/22/24 CNY 40.54 TAIZHOU HAILING CITY DEVE 4.60 12/14/22 CNY 20.17 TAIZHOU HAILING CITY DEVE 4.60 12/14/22 CNY 20.01 TAIZHOU JINDONG URBAN CON 5.10 06/02/23 CNY 20.04 TAIZHOU JINDONG URBAN CON 5.10 06/02/23 CNY 19.96 TAIZHOU XINTAI GROUP CO L 4.07 03/23/23 CNY 20.02 TAIZHOU XINTAI GROUP CO L 4.07 03/23/23 CNY 19.95 TANGSHAN FINANCIAL HOLDIN 7.60 05/16/25 CNY 56.72 TAOYUAN COUNTY ECONOMIC D 8.20 09/06/25 CNY 63.65 TAOYUAN COUNTY ECONOMIC D 8.20 09/06/25 CNY 60.00 TAOYUAN COUNTY ECONOMIC D 7.00 12/08/24 CNY 40.43 TAOYUAN COUNTY ECONOMIC D 7.00 12/08/24 CNY 40.00 TEMPUS GROUP CO LTD 7.50 06/07/20 CNY 12.00 TIANGUANG ZHONGMAO CO LTD 6.00 10/27/21 CNY 16.88 TIANJIN BOHAI STATE-OWNED 4.10 04/18/26 CNY 59.56 TIANJIN BOHAI STATE-OWNED 3.82 04/18/23 CNY 19.96 TIANJIN BOHAI STATE-OWNED 3.82 04/18/23 CNY 19.70 TIANJIN DONGFANG CAIXIN I 6.00 07/09/25 CNY 61.38 TIANJIN INFRASTRUCTURE CO 5.70 02/26/23 CNY 15.04 TIANJIN INFRASTRUCTURE CO 5.70 02/26/23 CNY 15.00 TIANJIN METRO GROUP CO LT 4.27 10/16/25 CNY 49.00 TIANJIN METRO GROUP CO LT 4.27 10/16/25 CNY 44.83 TIANJIN NINGHE INVESTMENT 5.50 04/22/23 CNY 20.05 TIANJIN NINGHE INVESTMENT 5.50 04/22/23 CNY 19.89 TIANJIN RAILWAY CONSTRUCT 5.58 04/13/25 CNY 44.77 TIANJIN REAL ESTATE GROUP 4.50 09/29/20 USD 73.82 TIANJIN REAL ESTATE GROUP 7.70 03/16/21 CNY 21.49 TIANJIN STATE-OWNED CAPIT 0.15 12/17/26 USD 22.04 TIANJIN STATE-OWNED CAPIT 1.60 12/17/39 USD 21.08 TIANJIN STATE-OWNED CAPIT 1.55 12/17/29 USD 20.00 TIANMEN CITY CONSTRUCTION 3.98 11/15/23 CNY 19.84 TIANMEN CITY CONSTRUCTION 3.98 11/15/23 CNY 19.66 TONGCHENG CITY CONSTRUCTI 7.50 07/23/25 CNY 62.38 TONGCHENG CITY CONSTRUCTI 6.60 12/18/24 CNY 60.34 TONGCHENG CITY CONSTRUCTI 7.50 07/23/25 CNY 60.00 TONGCHENG CITY CONSTRUCTI 6.60 12/18/24 CNY 60.00 TONGLING CONSTRUCTION INV 5.80 08/16/24 CNY 42.07 TONGLING CONSTRUCTION INV 5.77 07/31/24 CNY 40.91 TONGLING CONSTRUCTION INV 5.80 08/16/24 CNY 40.70 TONGLING CONSTRUCTION INV 5.77 07/31/24 CNY 40.00 TONGLING CONSTRUCTION INV 4.12 03/14/23 CNY 20.03 TONGLING CONSTRUCTION INV 4.12 03/14/23 CNY 20.00 TONGLING STATE-OWNED CAPI 7.00 11/14/24 CNY 70.82 TONGXIANG CHONGDE INVESTM 7.88 11/29/25 CNY 63.35 TONGXIANG CHONGDE INVESTM 7.88 11/29/25 CNY 60.00 TSINGHUA UNIGROUP CO LTD 6.00 08/14/22 CNY 25.50 TSINGHUA UNIGROUP CO LTD 6.15 12/26/21 CNY 25.50 TSINGHUA UNIGROUP CO LTD 6.20 03/16/21 CNY 25.50 TSINGHUA UNIGROUP CO LTD 5.60 11/15/20 CNY 25.50 TSINGHUA UNIGROUP CO LTD 5.11 01/25/24 CNY 16.88 TSINGHUA UNIGROUP CO LTD 5.20 12/10/23 CNY 16.88 TSINGHUA UNIGROUP CO LTD 5.85 03/27/22 CNY 16.88 TUNGHSU GROUP CO LTD 8.18 10/25/21 CNY 22.00 TUNGHSU OPTOELECTRONIC TE 6.80 05/19/20 CNY 15.00 URUMQI ECO TECH DEVELOPME 7.50 10/19/25 CNY 60.88 URUMQI ECO TECH DEVELOPME 7.50 10/19/25 CNY 60.00 WANGCHENG ECONOMIC DEVELO 3.75 07/13/23 CNY 20.23 WANGCHENG ECONOMIC DEVELO 3.75 07/13/23 CNY 19.91 WEICHI HOLDING GROUP CO L 7.20 04/13/25 CNY 61.69 WEICHI HOLDING GROUP CO L 7.20 04/13/25 CNY 60.00 WEICHI HOLDING GROUP CO L 6.18 07/24/24 CNY 40.49 WEICHI HOLDING GROUP CO L 6.18 07/24/24 CNY 40.00 WEIFANG BINHAI INVESTMENT 6.50 04/26/26 CNY 64.70 WEIFANG BINHAI INVESTMENT 7.00 09/12/26 CNY 64.18 WEIFANG 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7.90 03/29/21 CNY 43.63 WINTIME ENERGY CO LTD 7.90 12/22/20 CNY 43.63 WINTIME ENERGY CO LTD 7.50 12/06/20 CNY 43.63 WINTIME ENERGY CO LTD 7.50 11/16/20 CNY 43.63 WINTIME ENERGY CO LTD 7.70 11/15/20 CNY 43.63 WINTIME ENERGY CO LTD 7.00 04/26/19 CNY 43.63 WINTIME ENERGY CO LTD 7.00 03/19/19 CNY 43.63 WINTIME ENERGY CO LTD 7.00 12/15/18 CNY 43.63 WINTIME ENERGY CO LTD 6.78 10/23/18 CNY 43.63 WINTIME ENERGY CO LTD 7.00 08/25/18 CNY 43.63 WINTIME ENERGY CO LTD 7.30 08/06/18 CNY 43.63 WINTIME ENERGY CO LTD 7.00 07/05/18 CNY 43.63 WUHAN CITY HUANPI DISTRIC 5.48 04/19/24 CNY 41.26 WUHAN CITY HUANPI DISTRIC 5.48 04/19/24 CNY 40.52 WUHAN HIGH-TECH HOLDING G 5.60 09/14/27 CNY 72.79 WUHAN HIGH-TECH HOLDING G 5.60 09/14/27 CNY 71.89 WUHAN HONGSHAN CITY CONST 5.68 10/12/24 CNY 40.73 WUHAN HONGSHAN CITY CONST 5.68 08/10/24 CNY 40.66 WUHAN HONGSHAN CITY CONST 5.68 10/12/24 CNY 40.63 WUHAN HONGSHAN CITY CONST 5.68 08/10/24 CNY 40.59 WUHAN QIAOKOU STATE OWNED 3.48 08/29/23 CNY 19.90 WUHAN URBAN 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GUANJIANG HOLDI 4.98 12/24/22 CNY 19.80 XIANGTAN CITY INFRASTRCTU 3.60 08/04/23 CNY 19.90 XIANGTAN CITY INFRASTRCTU 3.95 08/04/23 CNY 19.89 XIANGTAN CITY INFRASTRCTU 3.95 08/04/23 CNY 19.89 XIANGTAN JIUHUA ECONOMIC 5.00 07/25/26 CNY 60.07 XIANGTAN JIUHUA ECONOMIC 5.00 07/25/26 CNY 52.06 XIANGXIANG CITY DONGSHAN 6.20 08/03/24 CNY 40.57 XIANGXIANG CITY DONGSHAN 6.20 08/03/24 CNY 40.33 XIANGXIANG ECONOMIC DISTR 5.28 09/09/23 CNY 19.34 XIANGXIANG ECONOMIC DISTR 5.28 09/09/23 CNY 19.25 XIANGXIANG URBAN CONSTRUC 7.50 10/27/24 CNY 41.60 XIANGXIANG URBAN CONSTRUC 7.50 10/27/24 CNY 40.00 XIANGXIANG URBAN CONSTRUC 5.84 05/18/23 CNY 20.06 XIANGXIANG URBAN CONSTRUC 5.84 05/18/23 CNY 19.95 XIANGYANG CITY HOUSING IN 6.10 12/15/24 CNY 61.33 XIANGYANG CITY HOUSING IN 6.10 12/15/24 CNY 61.00 XIANGYANG CITY XIANGZHOU 5.18 04/28/23 CNY 20.04 XIANGYANG CITY XIANGZHOU 5.18 04/28/23 CNY 20.02 XIANGYANG HIGH TECH STATE 6.25 06/12/24 CNY 40.78 XIANGYANG HIGH TECH STATE 6.25 06/12/24 CNY 40.72 XIANGYANG 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COUNTY URBAN CONST 5.48 08/03/23 CNY 19.77 XINGAN LEAGUE URBAN DEVEL 6.18 12/21/22 CNY 14.17 XINGAN LEAGUE URBAN DEVEL 6.18 12/21/22 CNY 14.14 XINGYI XINHENG URBAN CONS 8.00 11/21/25 CNY 63.44 XINGYI XINHENG URBAN CONS 7.90 01/31/25 CNY 61.92 XINGYI XINHENG URBAN CONS 7.90 01/31/25 CNY 60.00 XINGYI XINHENG URBAN CONS 8.00 11/21/25 CNY 57.92 XINGYI XINHENG URBAN CONS 5.40 12/16/22 CNY 19.98 XINJIANG UYGUR AR HAMI CI 6.55 10/27/24 CNY 41.30 XINJIANG UYGUR AR HAMI CI 6.55 10/27/24 CNY 40.00 XINMI CAIYUAN CITY CONSTR 4.35 02/28/23 CNY 19.98 XINMI CAIYUAN CITY CONSTR 4.35 02/28/23 CNY 19.97 XINYI CITY INVESTMENT & D 4.30 01/19/23 CNY 20.00 XINYI CITY INVESTMENT & D 4.30 01/19/23 CNY 19.96 XINYI ECONOMIC DEVELOPMEN 6.66 09/27/24 CNY 39.54 XINYI ECONOMIC DEVELOPMEN 6.66 09/27/24 CNY 34.50 XINYI URBAN TRANSPORTATIO 5.35 04/24/24 CNY 42.57 XINYI URBAN TRANSPORTATIO 5.35 04/24/24 CNY 40.69 XIPING COUNTY INDUSTRIAL 7.50 12/26/24 CNY 60.71 XIPING COUNTY INDUSTRIAL 7.50 12/26/24 CNY 60.00 XISHUI COUNTY FENGZHU INV 6.52 07/28/24 CNY 42.50 XISHUI COUNTY FENGZHU INV 6.52 07/28/24 CNY 40.20 XIUSHAN HUAXING ENTERPRIS 7.50 09/25/25 CNY 62.66 XIUSHAN HUAXING ENTERPRIS 7.50 09/25/25 CNY 62.66 XIWANG GROUP CO LTD 7.80 12/03/22 CNY 49.94 XUANCHENG STATE-OWNED ASS 4.12 04/07/23 CNY 20.07 XUANCHENG STATE-OWNED ASS 4.12 04/07/23 CNY 19.98 XUCHANG GENERAL INVESTMEN 5.74 08/17/24 CNY 40.16 XUZHOU CITY JIAWANG CONST 4.00 03/23/23 CNY 20.39 XUZHOU CITY JIAWANG CONST 4.00 03/23/23 CNY 20.02 XUZHOU HI-TECH INDUSTRIAL 3.78 11/11/23 CNY 19.89 XUZHOU HI-TECH INDUSTRIAL 3.78 11/11/23 CNY 19.83 YAN'AN NEW CITY CONSTRUCT 5.60 04/21/24 CNY 40.30 YAN'AN NEW CITY CONSTRUCT 5.60 04/21/24 CNY 40.21 YANCHENG GUANDONG ECONOMI 6.42 05/16/24 CNY 40.80 YANCHENG GUANDONG ECONOMI 6.42 05/16/24 CNY 40.73 YANCHENG HIGH-TECH ZONE I 3.90 12/14/22 CNY 20.00 YANCHENG HIGH-TECH ZONE I 3.90 12/14/22 CNY 20.00 YANCHENG SOUTH DISTRICT D 6.00 03/19/25 CNY 61.22 YANCHENG YANDU DISTRICT S 3.67 03/17/23 CNY 19.91 YANCHENG YANDU DISTRICT S 3.67 03/17/23 CNY 19.18 YANGO GROUP CO LTD 7.30 04/24/25 CNY 24.19 YANGO GROUP CO LTD 7.00 08/24/24 CNY 18.00 YANGO GROUP CO LTD 6.90 01/22/26 CNY 17.99 YANGO GROUP CO LTD 6.95 04/24/24 CNY 17.99 YANGO GROUP CO LTD 6.67 10/14/25 CNY 17.95 YANGO JUSTICE INTERNATION 5.30 01/11/22 USD 3.55 YANGO JUSTICE INTERNATION 10.25 03/18/22 USD 3.18 YANGO JUSTICE INTERNATION 7.88 09/04/24 USD 2.79 YANGO JUSTICE INTERNATION 9.25 04/15/23 USD 1.55 YANGO JUSTICE INTERNATION 10.00 02/12/23 USD 1.55 YANGO JUSTICE INTERNATION 7.50 02/17/25 USD 1.47 YANGO JUSTICE INTERNATION 7.50 04/15/24 USD 1.47 YANGO JUSTICE INTERNATION 10.25 09/15/22 USD 1.33 YANGO JUSTICE INTERNATION 8.25 11/25/23 USD 1.28 YANGXIN TOWN CONSTRUCTION 6.50 04/26/24 CNY 40.67 YANGXIN TOWN CONSTRUCTION 6.50 04/26/24 CNY 40.36 YANGZHONG TRANSPORTATION 4.98 04/07/23 CNY 20.04 YANGZHONG TRANSPORTATION 4.98 04/07/23 CNY 20.02 YANGZHONG TRANSPORTATION 4.95 04/07/23 CNY 19.98 YANGZHONG TRANSPORTATION 4.95 04/07/23 CNY 19.93 YANGZHOU ECONOMIC & TECHN 5.28 07/06/24 CNY 42.40 YANGZHOU ECONOMIC & TECHN 5.28 07/06/24 CNY 40.34 YANGZHOU GUANGLING NEW CI 3.62 09/07/23 CNY 24.50 YANGZHOU GUANGLING NEW CI 3.62 09/07/23 CNY 19.95 YANGZHOU NEW MATERIAL INV 6.80 10/09/24 CNY 40.95 YANGZHOU NEW MATERIAL INV 6.80 10/09/24 CNY 40.00 YI CHENG CONSTRUCTION INV 5.44 04/27/23 CNY 20.04 YI ZHENG CITY DEVELOPMENT 4.63 01/08/23 CNY 20.00 YI ZHENG CITY DEVELOPMENT 4.63 01/08/23 CNY 19.99 YIBIN NANXI CAIYUAN STATE 8.10 07/24/25 CNY 62.02 YIBIN NANXI CAIYUAN STATE 8.10 11/28/25 CNY 61.36 YIBIN NANXI CAIYUAN STATE 8.10 11/28/25 CNY 60.00 YIBIN NANXI CAIYUAN STATE 8.10 07/24/25 CNY 60.00 YICHANG CHUANGYUAN HOLDIN 7.80 11/06/25 CNY 62.72 YICHANG HIGH-TECH INVESTM 6.10 05/18/24 CNY 40.56 YICHANG HIGH-TECH INVESTM 6.10 05/18/24 CNY 40.44 YICHANG HIGH-TECH INVESTM 4.80 12/15/22 CNY 20.01 YICHANG HIGH-TECH INVESTM 4.80 12/15/22 CNY 20.00 YICHANG HIGH-TECH INVESTM 3.74 07/21/23 CNY 19.98 YICHANG HIGH-TECH INVESTM 3.74 07/21/23 CNY 19.86 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YIXING TUOYE INDUSTRIAL C 5.99 04/13/25 CNY 61.19 YIYANG COUNTY CITY CONSTR 7.50 06/07/25 CNY 62.62 YIYANG COUNTY CITY CONSTR 7.90 11/05/25 CNY 62.01 YIYANG COUNTY CITY CONSTR 7.90 11/05/25 CNY 61.96 YIYANG COUNTY CITY CONSTR 7.50 06/07/25 CNY 60.00 YIYANG PROVINCE AREA INNO 5.16 11/23/23 CNY 19.82 YIYANG PROVINCE AREA INNO 4.95 10/13/23 CNY 19.69 YIYANG PROVINCE AREA INNO 4.95 10/13/23 CNY 19.61 YIYANG PROVINCE AREA INNO 5.16 11/23/23 CNY 19.60 YIYANG URBAN CONSTRUCTION 6.43 04/24/25 CNY 61.58 YIYANG URBAN CONSTRUCTION 6.43 04/24/25 CNY 61.28 YIYUAN HONGDING ASSET OPE 7.50 08/17/25 CNY 61.83 YIYUAN HONGDING ASSET OPE 7.50 08/17/25 CNY 61.49 YIZHANG XINGYI CONSTRUCTI 5.49 09/02/24 CNY 40.30 YIZHANG XINGYI CONSTRUCTI 5.49 09/02/24 CNY 40.30 YIZHENG SHI'ERWEI NEW ARE 6.77 08/22/24 CNY 40.47 YONG ZHOU CITY DEVELOPMEN 5.30 07/13/24 CNY 40.38 YONG ZHOU CITY DEVELOPMEN 5.30 07/13/24 CNY 39.78 YONGAN STATE-OWNED ASSET 8.50 11/26/25 CNY 61.97 YONGAN STATE-OWNED ASSET 8.50 11/26/25 CNY 60.00 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GENERAL INVESTMENT 4.68 01/19/23 CNY 20.00 YUZHOU GENERAL INVESTMENT 4.68 01/19/23 CNY 20.00 ZAOYANG CITY CONSTRUCTION 5.50 03/22/23 CNY 20.09 ZAOYANG CITY CONSTRUCTION 5.50 03/22/23 CNY 20.00 ZHANGJIAGANG ECONOMY DEVE 3.95 03/22/23 CNY 20.03 ZHANGJIAGANG ECONOMY DEVE 3.95 03/22/23 CNY 20.00 ZHANGJIAJIE ECONOMIC DEVE 6.47 07/24/27 CNY 64.07 ZHANGJIAJIE ECONOMIC DEVE 6.47 07/24/27 CNY 62.50 ZHANGQIU STATE OWNED ASSE 3.69 08/09/23 CNY 19.86 ZHANGQIU STATE OWNED ASSE 3.69 08/09/23 CNY 19.85 ZHANGSHU STATE-OWNED ASSE 4.80 06/22/23 CNY 22.67 ZHANGSHU STATE-OWNED ASSE 4.80 06/22/23 CNY 20.04 ZHAODONG DONGSHENG CONSTR 6.50 01/20/24 CNY 40.39 ZHAODONG DONGSHENG CONSTR 6.50 01/20/24 CNY 39.80 ZHAOQING HI-TECH ZONE CON 3.97 08/26/23 CNY 40.25 ZHAOQING HI-TECH ZONE CON 3.97 08/26/23 CNY 19.88 ZHEJIANG BINHAI NEW AREA 4.65 12/23/22 CNY 20.30 ZHEJIANG BINHAI NEW AREA 4.65 12/23/22 CNY 20.01 ZHEJIANG HANGZHOU QINGSHA 5.99 06/30/24 CNY 40.64 ZHEJIANG HANGZHOU QINGSHA 5.99 06/30/24 CNY 40.63 ZHEJIANG HUISHENG INVESTM 4.49 03/15/24 CNY 39.93 ZHEJIANG HUISHENG INVESTM 4.49 03/15/24 CNY 39.88 ZHEJIANG HUZHOU NANXUN EC 7.80 08/21/25 CNY 67.00 ZHEJIANG OUHAI CONSTRUCTI 4.83 01/21/23 CNY 20.00 ZHEJIANG TIANTAI STATE-OW 6.50 11/22/24 CNY 62.54 ZHEJIANG TIANTAI STATE-OW 6.50 11/22/24 CNY 40.00 ZHEJIANG WUYI CITY CONSTR 8.00 08/10/25 CNY 62.81 ZHEJIANG WUYI CITY CONSTR 8.00 08/10/25 CNY 60.00 ZHENGZHOU GENERAL AVIATIO 5.98 06/27/24 CNY 41.14 ZHENGZHOU GENERAL AVIATIO 5.80 10/18/24 CNY 40.64 ZHENGZHOU GENERAL AVIATIO 5.80 10/18/24 CNY 40.00 ZHENGZHOU GENERAL AVIATIO 5.98 06/27/24 CNY 40.00 ZHENGZHOU MOUZHONG DEVELO 4.59 04/18/23 CNY 20.00 ZHENGZHOU MOUZHONG DEVELO 4.59 04/18/23 CNY 19.99 ZHENJIANG DANTU DISTRICT 5.98 11/06/24 CNY 42.50 ZHENJIANG DANTU DISTRICT 5.98 11/06/24 CNY 41.11 ZHENJIANG NEW AREA URBAN 5.31 07/14/23 CNY 19.95 ZHENJIANG NEW AREA URBAN 5.31 07/14/23 CNY 19.95 ZHENRO REAL ESTATE HOLDIN 5.45 09/14/24 CNY 25.40 ZHIJIANG STATE-OWNED ASSE 4.78 01/11/23 CNY 20.01 ZHIJIANG STATE-OWNED ASSE 4.78 01/11/23 CNY 20.00 ZHIJIANG STATE-OWNED ASSE 4.38 03/28/23 CNY 19.99 ZHIJIANG WANYUN COMMUNICA 7.00 08/29/24 CNY 46.13 ZHONGSHAN TORCH DEVELOPME 5.79 03/23/24 CNY 40.37 ZHONGXIANG CITY CONSTRUCT 6.50 09/01/24 CNY 40.88 ZHONGXIANG CITY CONSTRUCT 6.50 09/01/24 CNY 40.47 ZHOUSHAN CITY INVESTMENT 5.94 10/22/25 CNY 65.32 ZHOUSHAN CITY INVESTMENT 6.33 04/04/25 CNY 63.20 ZHOUSHAN CITY INVESTMENT 5.94 10/22/25 CNY 62.00 ZHOUSHAN CITY INVESTMENT 6.33 04/04/25 CNY 61.75 ZHOUSHAN ISLANDS NEW DIST 7.00 09/25/26 CNY 73.16 ZHOUSHAN ISLANDS NEW DIST 7.00 09/25/26 CNY 70.00 ZHUCHENG ECONOMIC DEVELOP 5.37 07/12/24 CNY 40.46 ZHUCHENG ECONOMIC DEVELOP 5.37 07/12/24 CNY 40.18 ZHUHAI HUIHUA INFRASTRUCT 4.70 06/27/23 CNY 20.05 ZHUHAI HUIHUA INFRASTRUCT 4.70 06/27/23 CNY 19.99 ZHUJI CITY EAST NEW TOWN 3.89 08/26/23 CNY 20.02 ZHUJI CITY EAST NEW TOWN 3.89 08/26/23 CNY 19.89 ZHUJI STATE-OWNED ASSETS 5.34 06/28/24 CNY 42.50 ZHUJI STATE-OWNED ASSETS 5.23 07/18/24 CNY 40.88 ZHUJI STATE-OWNED ASSETS 5.34 06/28/24 CNY 40.46 ZHUZHOU GECKOR GROUP CO L 3.78 09/28/23 CNY 19.76 ZHUZHOU GECKOR GROUP CO L 3.78 09/28/23 CNY 19.66 ZHUZHOU HI-TECH AUTO EXPO 4.47 11/03/23 CNY 24.25 ZHUZHOU LUSONG STATE OWNE 7.00 01/30/25 CNY 61.56 ZHUZHOU LVXIANG INVESTMEN 7.09 08/16/24 CNY 40.19 ZHUZHOU RAILWAY INDUSTRY 7.50 09/25/24 CNY 40.36 ZHUZHOU RECYCLING ECONOMI 4.38 03/24/23 CNY 19.97 ZHUZHOU RECYCLING ECONOMI 4.38 03/24/23 CNY 19.63 ZHUZHOU XIANGJIAN INVESTM 6.40 08/09/24 CNY 40.16 ZHUZHOU XIANGJIAN INVESTM 6.40 08/09/24 CNY 40.00 ZIBO BOSHAN STATE OWNED A 5.63 03/29/24 CNY 39.89 ZIBO BOSHAN STATE OWNED A 5.63 03/29/24 CNY 39.88 ZIBO HIGH TECH CITY INVES 5.28 08/10/24 CNY 44.80 ZIBO HIGH TECH CITY INVES 5.28 08/10/24 CNY 40.78 ZIGUI COUNTY CHUYUAN HOLD 7.08 08/14/27 CNY 73.88 ZIGUI COUNTY CHUYUAN HOLD 7.08 08/14/27 CNY 70.00 ZIXING CHENGCHENG INVESTM 6.20 03/16/24 CNY 40.50 ZIXING CHENGCHENG INVESTM 6.18 08/09/24 CNY 40.28 ZIXING CHENGCHENG INVESTM 6.20 03/16/24 CNY 40.05 ZIXING CHENGCHENG INVESTM 6.18 08/09/24 CNY 40.00 ZIXING CITY DEVELOPMENT I 6.30 09/26/24 CNY 40.56 ZIXING CITY DEVELOPMENT I 6.00 05/03/24 CNY 40.36 ZIXING CITY DEVELOPMENT I 6.00 05/03/24 CNY 40.26 ZIXING CITY DEVELOPMENT I 6.30 09/26/24 CNY 40.00 ZIYANG KAILI INVESTMENT C 8.00 02/14/26 CNY 71.01 ZIYANG WATER INVESTMENT C 3.97 03/17/23 CNY 19.74 ZIYANG WATER INVESTMENT C 3.97 03/17/23 CNY 19.71 ZIZHONG COUNTY XINGZI INV 5.97 01/18/23 CNY 20.03 ZIZHONG COUNTY XINGZI INV 5.97 01/18/23 CNY 19.68 ZONGYANG INVESTMENT DEVEL 5.85 04/25/24 CNY 40.62 ZONGYANG INVESTMENT DEVEL 5.85 04/25/24 CNY 40.00 ZUNYI BOZHOU URBAN CONSTR 6.60 07/06/24 CNY 40.67 ZUNYI BOZHOU URBAN CONSTR 6.60 07/06/24 CNY 40.66 ZUNYI BOZHOU URBAN CONSTR 7.85 10/24/24 CNY 39.76 ZUNYI CITY XIANGJIANG INV 6.99 09/25/24 CNY 41.00 ZUNYI CITY XIANGJIANG INV 6.99 09/25/24 CNY 35.00 ZUNYI ECONOMIC DEVELOPMEN 7.48 08/17/24 CNY 41.15 ZUNYI ECONOMIC DEVELOPMEN 4.87 01/22/23 CNY 20.00 ZUNYI ECONOMIC DEVELOPMEN 4.87 01/22/23 CNY 18.10 ZUNYI HONGHUAGANG DISTRIC 6.98 07/25/24 CNY 37.08 ZUNYI HONGHUAGANG DISTRIC 6.98 07/25/24 CNY 37.07 ZUNYI HONGHUAGANG DISTRIC 5.05 06/27/23 CNY 19.75 ZUNYI HONGHUAGANG DISTRIC 5.05 06/27/23 CNY 19.01 ZUNYI NEW DISTRICT DEVELO 5.99 04/07/26 CNY 39.73 ZUNYI NEW DISTRICT DEVELO 5.99 04/07/26 CNY 35.00 ZUNYI ROAD & BRIDGE CONST 6.10 04/27/23 CNY 25.10 ZUNYI ROAD & BRIDGE CONST 6.10 04/27/23 CNY 22.20 ZUNYI TRAFFIC TRAVEL INVE 7.70 09/27/27 CNY 54.62 ZUNYI TRAFFIC TRAVEL INVE 7.70 09/27/27 CNY 53.00 ZUNYI URBAN CONSTRUCTION 7.50 05/20/24 CNY 67.80 HONG KONG --------- AIA GROUP LTD 3.20 09/16/40 USD 74.16 AIA GROUP LTD 3.20 09/16/40 USD 74.14 AIRPORT AUTHORITY 2.63 02/04/51 USD 68.22 AIRPORT AUTHORITY 2.63 02/04/51 USD 67.45 CHINA SOUTH CITY HOLDINGS 9.00 10/09/24 USD 59.25 CHINA SOUTH CITY HOLDINGS 9.00 12/11/24 USD 58.92 CHINA SOUTH CITY HOLDINGS 9.00 04/12/24 USD 53.72 CHINA SOUTH CITY HOLDINGS 9.00 07/20/24 USD 31.20 CHINA SOUTH CITY HOLDINGS 9.00 06/26/24 USD 28.00 CNAC HK FINBRIDGE CO LTD 3.70 09/22/50 USD 65.01 DR PENG HOLDING HONGKONG 2.50 12/01/25 USD 43.31 HAINAN AIRLINES HONG KONG 12.00 10/29/21 USD 2.51 HKCG FINANCE LTD 2.94 10/18/49 HKD 67.64 HKCG FINANCE LTD 2.94 10/28/49 HKD 67.59 HKCG FINANCE LTD 2.57 05/26/50 HKD 61.83 HKCG FINANCE LTD 2.57 06/29/50 HKD 61.77 HNA GROUP INTERNATIONAL C 6.25 10/05/21 USD 5.00 HONG KONG GOVERNMENT INTE 2.38 02/02/51 USD 66.46 HONG KONG GOVERNMENT INTE 2.38 02/02/51 USD 66.31 HONG KONG GOVERNMENT INTE 1.00 11/24/41 EUR 63.87 HONG KONG MORTGAGE CORP L 3.15 03/19/49 HKD 74.40 HONG KONG MORTGAGE CORP L 2.98 04/02/49 HKD 71.87 HONG KONG MORTGAGE CORP L 2.65 07/26/49 HKD 67.53 HONGKONG IDEAL INVESTMENT 14.75 10/08/22 USD 3.66 LAI SUN MTN LTD 5.00 07/28/26 USD 64.68 MTR CORP LTD 2.88 07/27/46 USD 69.18 MTR CORP LTD 2.55 06/24/55 HKD 66.53 PINGAN REAL ESTATE CAPITA 3.45 07/29/26 USD 65.78 WESTWOOD GROUP HOLDINGS L 3.80 01/20/31 USD 63.91 XIAOMI BEST TIME INTERNAT 2.88 07/14/31 USD 73.13 XIAOMI BEST TIME INTERNAT 2.88 07/14/31 USD 72.64 XIAOMI BEST TIME INTERNAT 4.10 07/14/51 USD 60.64 XIAOMI BEST TIME INTERNAT 4.10 07/14/51 USD 60.32 ZENSUN ENTERPRISES LTD 12.50 09/13/23 USD 55.03 ZENSUN ENTERPRISES LTD 12.50 04/23/24 USD 55.02 INDONESIA --------- ALAM SUTERA REALTY TBK PT 11.00 11/02/25 USD 65.38 BERAU COAL ENERGY TBK PT 2.00 10/15/28 USD 25.00 BERAU COAL ENERGY TBK PT 2.00 10/15/28 USD 25.00 DAVOMAS INTERNATIONAL FIN 11.00 12/08/14 USD 0.84 DAVOMAS INTERNATIONAL FIN 11.00 12/08/14 USD 0.84 DAVOMAS INTERNATIONAL FIN 11.00 05/09/11 USD 0.84 DAVOMAS INTERNATIONAL FIN 11.00 05/09/11 USD 0.84 DELTA MERLIN DUNIA TEKSTI 2.50 06/26/28 USD 27.90 INDOFOOD CBP SUKSES MAKMU 4.75 06/09/51 USD 74.81 INDOFOOD CBP SUKSES MAKMU 4.81 04/27/52 USD 74.03 INDONESIA GOVERNMENT INTE 1.10 03/12/33 EUR 73.57 INDONESIA GOVERNMENT INTE 1.30 03/23/34 EUR 72.76 INDONESIA GOVERNMENT INTE 3.05 03/12/51 USD 72.74 INDONESIA GOVERNMENT INTE 3.20 09/23/61 USD 69.95 INDONESIA GOVERNMENT INTE 3.35 03/12/71 USD 68.92 PERTAMINA PERSERO PT 4.15 02/25/60 USD 73.65 PERTAMINA PERSERO PT 4.15 02/25/60 USD 73.60 PERUSAHAAN PERSEROAN PERS 4.38 02/05/50 USD 74.98 PERUSAHAAN PERSEROAN PERS 4.38 02/05/50 USD 74.77 PERUSAHAAN PERSEROAN PERS 1.88 11/05/31 EUR 72.45 PERUSAHAAN PERSEROAN PERS 4.00 06/30/50 USD 72.43 PERUSAHAAN PERSEROAN PERS 4.00 06/30/50 USD 72.26 PERUSAHAAN PERSEROAN PERS 1.88 11/05/31 EUR 72.13 SRI REJEKI ISMAN TBK PT 7.25 01/16/25 USD 4.13 SRI REJEKI ISMAN TBK PT 7.25 01/16/25 USD 1.92 INDIA ----- ACME RANGA REDDY SOLAR PO 0.01 01/26/46 INR 17.48 ACME RANGA REDDY SOLAR PO 0.01 08/31/46 INR 16.69 ADANI ELECTRICITY MUMBAI 3.87 07/22/31 USD 72.22 ADANI ELECTRICITY MUMBAI 3.87 07/22/31 USD 72.09 ADANI PORTS & SPECIAL ECO 3.10 02/02/31 USD 74.36 ADANI PORTS & SPECIAL ECO 3.10 02/02/31 USD 74.34 ADANI PORTS & SPECIAL ECO 5.00 08/02/41 USD 74.08 ADANI PORTS & SPECIAL ECO 5.00 08/02/41 USD 74.01 ADANI RENEWABLE ENERGY RJ 4.63 10/15/39 USD 74.82 ADANI RENEWABLE ENERGY RJ 4.63 10/15/39 USD 74.75 ALANKRIT ESTATES LTD 0.01 10/20/32 INR 46.62 AMPSOLAR SOLUTION PVT LTD 0.01 10/27/37 INR 31.29 AMPSOLAR SOLUTION PVT LTD 0.01 11/03/37 INR 31.25 AMTEK AUTO LTD 0.10 12/07/28 INR 58.26 ANSR GLOBAL CORP PVT LTD 4.00 02/12/30 INR 73.25 APG HABITAT PVT LTD 1.00 09/09/28 INR 65.89 APG INTELLI HOMES PVT LTD 1.25 02/04/35 INR 47.50 APG INTELLI HOMES PVT LTD 1.25 02/04/35 INR 46.89 ASSETS CARE & RECONSTRUCT 2.00 03/30/29 INR 68.37 ASSETS CARE & RECONSTRUCT 2.00 03/30/29 INR 68.37 ASSETS CARE & RECONSTRUCT 2.00 03/31/30 INR 65.08 ASSETS CARE & RECONSTRUCT 1.00 03/30/29 INR 63.54 ASSETS CARE & RECONSTRUCT 2.05 04/30/31 INR 62.16 AUTHBRIDGE RESEARCH SERVI 0.10 10/14/31 INR 44.80 AUTHBRIDGE RESEARCH SERVI 0.10 12/03/31 INR 44.33 AUTOMOTIVE EXCHANGE PVT L 4.00 06/01/30 INR 61.99 AUTOMOTIVE EXCHANGE PVT L 4.00 10/11/30 INR 61.57 BIG SHOT INFRA FACILITIES 0.01 04/20/27 INR 67.15 BIG SHOT INFRA FACILITIES 0.01 05/20/27 INR 66.68 BIG SHOT INFRA FACILITIES 0.01 07/18/27 INR 65.77 BODY CUPID PVT LTD 0.01 03/31/31 INR 51.85 BREEZE CONSTRUCTIONS PVT 0.01 06/29/30 INR 52.15 BRITANNIA INDUSTRIES LTD 5.50 06/03/24 INR 28.24 BROIL SOLAR ENERGY PVT LT 0.01 09/05/31 INR 48.94 CHANDRAJYOTI ESTATE DEVEL 0.01 07/06/30 INR 53.46 CONVERGIA DIGITAL EDUCATI 0.10 09/29/31 INR 56.52 CROPIN TECHNOLOGY SOLUTIO 0.01 02/27/27 INR 73.35 CROPIN TECHNOLOGY SOLUTIO 0.01 09/25/27 INR 70.87 CROPIN TECHNOLOGY SOLUTIO 0.01 12/20/30 INR 59.80 CROPIN TECHNOLOGY SOLUTIO 0.01 01/12/31 INR 59.62 CUMULUS TRADING CO PVT LT 0.01 01/23/30 INR 72.95 CUMULUS TRADING CO PVT LT 0.01 05/21/32 INR 45.21 DLF ASPINWAL HOTELS PVT L 0.01 10/15/30 INR 49.23 DLF HOME DEVELOPERS LTD 0.01 06/29/30 INR 56.33 DLF HOMES PANCHKULA PVT L 0.01 06/29/30 INR 52.16 DLF HOMES SERVICES PVT LT 0.01 06/29/30 INR 52.15 DLF LANDS INDIA PVT LTD 0.01 09/29/31 INR 48.15 DLF MIDTOWN PVT LTD 0.01 12/11/27 INR 66.47 DLF PROPERTY DEVELOPERS L 0.01 06/29/30 INR 53.90 DLF PROPERTY DEVELOPERS L 0.01 08/12/30 INR 53.40 DLF REAL ESTATE BUILDERS 0.01 06/23/30 INR 53.53 DLF RECREATIONAL FOUNDATI 0.01 10/15/30 INR 49.23 DLF RESIDENTIAL BUILDERS 0.01 06/23/30 INR 52.24 DLF RESIDENTIAL DEVELOPER 0.01 06/28/30 INR 54.01 DLF RESIDENTIAL DEVELOPER 0.01 06/28/30 INR 54.01 DLF SOUTHERN TOWNS PVT LT 0.01 07/09/30 INR 57.26 DLF URBAN PVT LTD 0.01 12/11/27 INR 67.37 DOMUS REAL ESTATE PVT LTD 0.01 07/11/30 INR 53.50 EDEL LAND LTD 0.01 03/26/31 INR 52.45 EDEL LAND LTD 0.01 12/28/31 INR 49.55 EDEL LAND LTD 0.01 03/30/32 INR 48.62 EDELWEISS ASSET RECONSTRU 2.00 11/20/27 INR 74.99 EDELWEISS ASSET RECONSTRU 2.00 10/07/28 INR 71.52 EDELWEISS ASSET RECONSTRU 2.00 01/15/29 INR 70.50 EDELWEISS ASSET RECONSTRU 2.00 03/28/29 INR 69.79 EDELWEISS ASSET RECONSTRU 2.00 07/22/29 INR 68.67 EDELWEISS INVESTMENT ADVI 0.01 05/31/29 INR 58.29 EDELWEISS RURAL & CORPORA 0.01 03/25/31 INR 53.32 ELP SOLAR ONE PVT LTD 0.25 02/27/31 INR 52.07 ESSAR POWER TRANSMISSION 3.00 03/31/43 INR 47.99 ESSAR POWER TRANSMISSION 3.00 03/31/43 INR 47.99 FUTURE RETAIL LTD 5.60 01/22/25 USD 1.54 FUTURE RETAIL LTD 5.60 01/22/25 USD 1.49 GALLERIA PROPERTY MANAGEM 0.01 12/30/31 INR 47.80 GAMMA GAANA LTD 0.01 07/31/31 INR 48.77 GOLD PLUS GLASS INDUSTRY 0.10 03/03/29 INR 59.89 GOLD PLUS GLASS INDUSTRY 0.10 03/03/29 INR 59.89 GREEN URJA PVT LTD 0.01 02/14/30 INR 55.24 HCL INFOTECH LTD 0.10 03/31/36 INR 35.44 HITODI INFRASTRUCTURE LTD 0.01 06/30/27 INR 65.93 IBROX AVIATION AND TRADIN 0.01 12/15/27 INR 62.66 INDIABULLS HOUSING FINANC 4.50 09/28/26 USD 72.00 JAIPRAKASH ASSOCIATES LTD 5.75 09/08/17 USD 55.13 JAIPRAKASH POWER VENTURES 7.00 05/15/17 USD 6.19 JCT LTD 2.50 04/08/11 USD 25.75 JSM CORP PVT LTD 0.01 08/31/36 INR 33.00 JTPM ATSALI LTD 0.01 12/28/28 INR 61.45 JTPM ATSALI LTD 0.01 08/29/48 INR 13.93 JUNO MONETA TECHNOLOGIES 0.01 05/18/26 INR 74.45 KANAKADURGA FINANCE LTD 0.01 04/15/36 INR 31.67 KIRTIMAAN BUILDERS LTD 0.01 10/20/32 INR 46.62 KUSHALS RETAIL PVT LTD 1.00 05/13/29 INR 59.83 L&T FINANCE LTD 6.25 12/03/24 INR 68.80 LITMUS WORLD MARKETING TE 0.01 03/31/28 INR 68.76 LOCON SOLUTIONS PVT LTD 0.01 07/22/30 INR 51.32 LOK SUVIDHA FINANCE LTD 0.01 11/30/31 INR 44.58 MAHATVA PLASTIC PRODUCTS 0.01 03/29/27 INR 68.93 MAHATVA PLASTIC PRODUCTS 0.01 05/03/27 INR 68.38 MAHATVA PLASTIC PRODUCTS 0.01 05/19/27 INR 68.14 MAKAAN.COM PVT LTD 0.01 07/22/30 INR 51.84 MANJRI DEVELOPERS PVT LTD 0.01 08/05/39 INR 25.66 MARIS POWER SUPPLY CO PVT 2.00 04/18/28 INR 72.89 MAXIMUS ARC LTD 0.01 04/08/26 INR 73.32 MAXIMUS ARC LTD 0.01 10/07/26 INR 70.15 MELOSA BUILDERS & DEVELOP 0.01 06/29/30 INR 52.15 MENS BUILDCON PVT LTD 0.01 06/29/30 INR 52.15 METALITE FUEL INDUSTRIES 0.01 03/31/35 INR 37.90 METALITE FUEL INDUSTRIES 0.01 06/18/36 INR 34.52 MUDIT CEMENT PVT LTD 0.01 03/28/27 INR 67.90 MYTRAH AADHYA POWER PVT L 0.01 07/05/35 INR 36.55 MYTRAH ADVAITH POWER PVT 0.01 07/13/36 INR 33.82 MYTRAH AKSHAYA ENERGY PVT 0.01 07/13/36 INR 33.82 NANI VIRANI WIND ENERGY P 2.00 06/30/39 INR 45.57 NEEMUCH SOLAR POWER PVT L 0.01 01/26/46 INR 17.75 NEEMUCH SOLAR POWER PVT L 0.01 08/29/46 INR 16.96 NHAVA SHEVA INTERNATIONAL 0.01 04/14/27 INR 69.57 NSL KRISHNAVENI SUGARS LT 0.01 12/23/31 INR 45.39 ORIGAMI CELLULO PVT LTD 0.01 11/14/36 INR 32.91 PALIWAL REAL ESTATE LTD 0.01 09/09/31 INR 47.55 PIRAMAL CAPITAL & HOUSING 8.50 04/18/23 INR 34.25 PRAKASH INDUSTRIES LTD 5.25 04/30/15 USD 22.63 PRIDHVI ASSET RECONSTRUCT 0.01 06/07/26 INR 73.55 PRUDENT ARC LTD 0.01 09/02/31 INR 48.60 PRUDENT ARC LTD 0.01 10/04/31 INR 48.02 PRUDENT ARC LTD 0.01 03/30/32 INR 46.27 PUNJAB INFRASTRUCTURE DEV 0.40 10/15/27 INR 71.84 PUNJAB INFRASTRUCTURE DEV 0.40 10/15/28 INR 66.95 PUNJAB INFRASTRUCTURE DEV 0.40 10/15/29 INR 62.42 PUNJAB INFRASTRUCTURE DEV 0.40 10/15/30 INR 58.19 PUNJAB INFRASTRUCTURE DEV 0.40 10/15/31 INR 54.27 PUNJAB INFRASTRUCTURE DEV 0.40 10/15/32 INR 50.61 PUNJAB INFRASTRUCTURE DEV 0.40 10/15/33 INR 47.22 PURVANCHAL SOLAR POWER PV 0.01 01/26/46 INR 17.75 PURVANCHAL SOLAR POWER PV 0.01 08/29/46 INR 16.96 PYRAMID SAIMIRA THEATRE L 1.75 07/04/12 USD 0.26 R L FINE CHEM PVT LTD 0.10 08/19/36 INR 33.36 RAMANI ICECREAM CO LTD 0.01 12/29/35 INR 35.72 RANKGURU TECHNOLOGY SOLUT 0.01 02/11/27 INR 66.91 RANKGURU TECHNOLOGY SOLUT 0.01 03/31/27 INR 66.15 REDKITE CAPITAL PVT LTD 2.50 03/30/29 INR 72.20 REI AGRO LTD 5.50 11/13/14 USD 0.83 REI AGRO LTD 5.50 11/13/14 USD 0.83 RELIANCE COMMUNICATIONS L 6.50 11/06/20 USD 3.63 RELIANCE INDUSTRIES LTD 3.63 01/12/52 USD 70.23 RELIANCE INDUSTRIES LTD 3.63 01/12/52 USD 69.97 RELIANCE INDUSTRIES LTD 3.75 01/12/62 USD 68.85 RELIANCE INDUSTRIES LTD 3.75 01/12/62 USD 68.71 RENEW FAZILKA SOLAR POWER 0.01 01/26/46 INR 17.48 RENEW MEDAK POWER PVT LTD 0.01 01/26/46 INR 17.75 RENEW MEDAK POWER PVT LTD 0.01 08/29/46 INR 16.96 REWANCHAL SOLAR POWER PVT 0.01 01/26/46 INR 17.75 REWANCHAL SOLAR POWER PVT 0.01 08/29/46 INR 16.96 RIVERIA COMMERCIAL DEVELO 0.01 07/08/31 INR 47.54 RMZ ONE PARAMOUNT PVT LTD 0.10 03/24/29 INR 57.99 SAHIB FINLEASE LTD 1.00 10/29/29 INR 61.39 SAKET HOLIDAYS RESORTS PV 0.01 06/29/30 INR 53.37 SANJWIN CONSULTING SOLUTI 0.01 06/01/28 INR 61.55 SHERISHA ROOFTOP SOLAR SP 0.01 08/12/31 INR 47.42 SHIVAJI MARG MAINTENANCE 0.01 06/28/30 INR 52.99 SHREE UTTAM STEEL & POWER 0.10 07/12/32 INR 46.02 SINTEX INDUSTRIES LTD 3.50 05/25/22 USD 25.38 SKIPPER PLASTICS LTD 1.00 08/16/32 INR 51.41 STPL HORTICULTURE PVT LTD 0.01 03/31/31 INR 58.84 SUNWORLD SOLAR POWER PVT 0.01 01/26/46 INR 17.75 SUNWORLD SOLAR POWER PVT 0.01 08/31/46 INR 16.96 SURBHI INVESTMENTS & TRAD 2.50 10/21/28 INR 73.16 SUTARA ROADS & INFRA LTD 0.01 08/31/30 INR 58.76 SUZLON ENERGY LTD 0.01 06/26/30 INR 48.75 SUZLON ENERGY LTD 5.75 07/16/19 USD 20.81 SUZLON ENERGY LTD 5.75 07/16/19 USD 20.81 SVOGL OIL GAS & ENERGY LT 5.00 08/17/15 USD 0.61 TATA SMARTFOODZ LTD 0.01 04/18/26 INR 74.98 TATA SMARTFOODZ LTD 0.01 06/28/26 INR 73.78 TATA SMARTFOODZ LTD 0.01 08/19/26 INR 72.91 TN URJA PVT LTD 0.10 02/22/36 INR 36.58 UJAGAR ESTATES LTD 0.01 10/20/32 INR 46.62 VENTO ENERGY INFRA PVT LT 0.01 09/20/39 INR 26.36 VIKRANT FORGE PVT LTD 2.00 03/25/33 INR 57.50 WATSUN INFRABUILD PVT LTD 4.00 10/16/37 INR 65.98 YBRANT ENGINEERING & CONS 0.01 05/07/31 INR 51.02 YOGINDERA POWERS LTD 0.01 01/24/42 INR 39.18 JAPAN ----- AVANSTRATE INC 0.25 10/29/32 JPY 9.75 CITY OF KOBE JAPAN 0.30 06/18/49 JPY 74.64 DEVELOPMENT BANK OF JAPAN 0.56 11/14/34 EUR 73.71 DEVELOPMENT BANK OF JAPAN 0.57 06/24/60 JPY 73.18 DEVELOPMENT BANK OF JAPAN 0.95 04/15/71 JPY 71.04 DEVELOPMENT BANK OF JAPAN 0.48 12/16/59 JPY 70.80 DEVELOPMENT BANK OF JAPAN 0.89 07/16/70 JPY 68.83 EAST JAPAN RAILWAY CO 0.49 07/23/49 JPY 74.76 EAST JAPAN RAILWAY CO 0.90 07/20/60 JPY 74.61 EAST JAPAN RAILWAY CO 0.77 09/15/34 EUR 74.34 EAST JAPAN RAILWAY CO 1.21 07/15/71 JPY 74.08 EAST JAPAN RAILWAY CO 0.83 04/22/60 JPY 72.94 EAST JAPAN RAILWAY CO 1.18 12/17/71 JPY 72.93 EAST JAPAN RAILWAY CO 1.15 12/18/70 JPY 72.68 EAST JAPAN RAILWAY CO 1.14 04/15/71 JPY 72.17 EAST JAPAN RAILWAY CO 0.77 12/23/59 JPY 71.56 EAST JAPAN RAILWAY CO 1.10 09/15/39 EUR 70.40 EAST JAPAN RAILWAY CO 0.99 04/22/70 JPY 68.22 EAST JAPAN RAILWAY CO 0.50 07/28/56 JPY 67.47 EAST JAPAN RAILWAY CO 0.81 07/23/69 JPY 63.21 HIS CO LTD 0.58 02/19/27 JPY 63.46 JAPAN EXPRESSWAY HOLDING 0.45 09/17/49 JPY 74.88 JAPAN EXPRESSWAY HOLDING 0.94 03/17/56 JPY 74.69 JAPAN EXPRESSWAY HOLDING 0.18 06/20/46 JPY 74.69 JAPAN EXPRESSWAY HOLDING 0.78 03/19/53 JPY 74.54 JAPAN EXPRESSWAY HOLDING 1.02 03/19/58 JPY 74.01 JAPAN EXPRESSWAY HOLDING 0.96 03/19/57 JPY 73.69 JAPAN EXPRESSWAY HOLDING 0.65 03/17/56 JPY 73.42 JAPAN EXPRESSWAY HOLDING 0.84 03/19/55 JPY 73.20 JAPAN EXPRESSWAY HOLDING 0.57 08/31/60 JPY 73.17 JAPAN EXPRESSWAY HOLDING 0.48 08/31/56 JPY 73.08 JAPAN EXPRESSWAY HOLDING 0.97 03/19/60 JPY 72.80 JAPAN EXPRESSWAY HOLDING 0.54 06/30/60 JPY 72.24 JAPAN EXPRESSWAY HOLDING 0.71 03/19/54 JPY 71.98 JAPAN EXPRESSWAY HOLDING 0.29 06/18/49 JPY 71.71 JAPAN EXPRESSWAY HOLDING 0.75 03/19/54 JPY 71.20 JAPAN EXPRESSWAY HOLDING 0.94 03/19/60 JPY 70.76 JAPAN EXPRESSWAY HOLDING 0.44 03/19/54 JPY 70.73 JAPAN EXPRESSWAY HOLDING 0.46 06/30/59 JPY 70.65 JAPAN EXPRESSWAY HOLDING 0.63 03/19/59 JPY 70.34 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FINANCE ORGANIZATIO 1.88 10/15/35 AUD 65.14 JAPAN GOVERNMENT FORTY YE 0.50 03/20/59 JPY 73.00 JAPAN GOVERNMENT FORTY YE 0.50 03/20/60 JPY 72.49 JAPAN GOVERNMENT FORTY YE 0.40 03/20/56 JPY 72.33 JAPAN HOUSING FINANCE AGE 0.77 03/19/60 JPY 74.36 KYOTO PREFECTURE 0.30 06/18/49 JPY 74.64 MITSUBISHI ESTATE CO LTD 0.79 06/27/56 JPY 70.95 MITSUBISHI ESTATE CO LTD 1.13 04/18/69 JPY 70.33 MITSUI FUDOSAN CO LTD 1.03 03/17/70 JPY 66.00 MIZUHO SECURITIES CO LTD 2.16 02/01/36 USD 69.02 MIZUHO SECURITIES CO LTD 2.05 12/21/35 USD 68.26 MIZUHO SECURITIES CO LTD 2.02 12/10/35 USD 68.04 NIPPON PROLOGIS REIT INC 1.00 04/15/50 JPY 73.53 OSAKA GAS CO LTD 0.82 06/06/59 JPY 73.05 OSAKA GAS CO LTD 0.40 09/03/49 JPY 72.61 OSAKA GAS CO LTD 0.55 09/05/58 JPY 66.48 OSAKA GAS CO LTD 0.70 09/05/69 JPY 59.55 SOFTBANK GROUP CORP 3.38 07/06/29 EUR 74.44 SOFTBANK GROUP CORP 3.88 07/06/32 EUR 68.49 SUMITOMO MITSUI FINANCIAL 3.05 01/14/42 USD 73.27 SUMITOMO MITSUI FINANCIAL 2.93 09/17/41 USD 69.73 SUMITOMO MITSUI FINANCIAL 2.30 01/12/41 USD 65.84 TAKEDA PHARMACEUTICAL CO 3.18 07/09/50 USD 73.51 TAKEDA PHARMACEUTICAL CO 3.38 07/09/60 USD 72.40 TKJP CORP 0.58 03/26/21 JPY 2.02 TKJP CORP 0.85 03/06/19 JPY 2.02 TKJP CORP 1.02 12/15/17 JPY 0.50 TOHO GAS CO LTD 0.86 04/18/59 JPY 74.33 TOKYO GAS CO LTD 0.88 05/23/59 JPY 74.82 TOKYO GAS CO LTD 0.83 05/28/60 JPY 73.31 TOKYO GAS CO LTD 0.69 12/25/57 JPY 71.17 TOKYO GAS CO LTD 1.09 09/10/70 JPY 70.92 TOKYO GAS CO LTD 0.99 05/28/70 JPY 68.27 TOKYO GAS CO LTD 0.53 09/12/59 JPY 65.25 TOKYO METRO CO LTD 0.91 09/17/60 JPY 74.64 TOKYO METRO CO LTD 0.77 06/27/59 JPY 71.94 TOKYO METRO CO LTD 1.13 01/22/71 JPY 71.87 TOKYO METRO CO LTD 1.09 06/12/70 JPY 70.92 TOKYO METRO CO LTD 1.07 09/18/70 JPY 70.31 TOKYO METRO CO LTD 0.94 01/31/70 JPY 66.63 UNIZO HOLDINGS CO LTD 0.85 05/26/23 JPY 41.17 UNIZO HOLDINGS CO LTD 0.80 11/29/23 JPY 38.45 UNIZO HOLDINGS CO LTD 0.89 05/29/24 JPY 31.04 UNIZO HOLDINGS CO LTD 1.10 11/28/24 JPY 29.03 UNIZO HOLDINGS CO LTD 0.99 11/27/26 JPY 26.99 UNIZO HOLDINGS CO LTD 1.20 05/28/27 JPY 23.71 UNIZO HOLDINGS CO LTD 1.50 11/26/27 JPY 23.58 URBAN RENAISSANCE AGENCY 0.75 03/19/60 JPY 74.01 URBAN RENAISSANCE AGENCY 0.32 06/18/49 JPY 73.36 URBAN RENAISSANCE AGENCY 0.69 03/19/59 JPY 72.42 URBAN RENAISSANCE AGENCY 1.00 06/19/71 JPY 72.26 URBAN RENAISSANCE AGENCY 0.68 03/19/59 JPY 72.15 URBAN RENAISSANCE AGENCY 0.43 03/19/59 JPY 65.49 WEST JAPAN RAILWAY CO 0.86 05/21/60 JPY 73.63 WEST JAPAN RAILWAY CO 0.40 08/27/49 JPY 72.75 WEST JAPAN RAILWAY CO 1.13 04/22/71 JPY 71.80 WEST JAPAN RAILWAY CO 1.10 08/27/70 JPY 71.28 WEST JAPAN RAILWAY CO 1.03 05/21/70 JPY 69.27 KOREA ----- BUSAN PORT AUTHORITY 1.65 09/06/36 KRW 72.95 BUSAN PORT AUTHORITY 1.85 03/20/40 KRW 70.99 BUSAN PORT AUTHORITY 2.40 10/15/51 KRW 70.39 BUSAN PORT AUTHORITY 2.39 10/08/51 KRW 70.24 BUSAN PORT AUTHORITY 1.65 08/21/40 KRW 68.19 CITIBANK KOREA INC 2.33 08/01/36 KRW 63.05 CJ CGV CO LTD 1.00 06/08/51 KRW 27.11 CJ CGV CO LTD 0.50 07/21/52 KRW 26.04 EXPORT-IMPORT BANK OF KOR 4.73 10/18/32 KRW 73.95 EXPORT-IMPORT BANK OF KOR 2.63 04/25/52 EUR 73.95 EXPORT-IMPORT BANK OF KOR 2.50 06/29/41 USD 73.11 EXPORT-IMPORT BANK OF KOR 2.65 04/07/36 AUD 72.71 EXPORT-IMPORT BANK OF KOR 2.70 12/22/36 AUD 70.91 EXPORT-IMPORT BANK OF KOR 2.51 12/06/49 AUD 56.09 GS CALTEX CORP 2.26 03/03/36 KRW 73.28 HANA BANK 1.86 08/23/39 KRW 75.05 HANA BANK 1.80 08/26/40 KRW 74.29 HANA BANK 1.78 08/23/39 KRW 74.19 HEUNGKUK FIRE & MARINE IN 5.70 12/29/46 KRW 35.74 KOREA DEVELOPMENT BANK/TH 2.55 02/27/49 KRW 76.27 KOREA DEVELOPMENT BANK/TH 1.71 08/09/39 KRW 75.70 KOREA DEVELOPMENT BANK/TH 1.85 09/15/40 KRW 75.41 KOREA DEVELOPMENT BANK/TH 2.50 03/19/49 KRW 75.27 KOREA DEVELOPMENT BANK/TH 2.57 04/01/36 AUD 74.89 KOREA DEVELOPMENT BANK/TH 2.97 10/21/51 KRW 74.49 KOREA DEVELOPMENT BANK/TH 3.24 11/30/41 AUD 73.61 KOREA DEVELOPMENT BANK/TH 2.42 02/15/49 KRW 73.54 KOREA DEVELOPMENT BANK/TH 2.55 09/30/36 AUD 73.48 KOREA DEVELOPMENT BANK/TH 2.75 10/07/51 KRW 73.26 KOREA DEVELOPMENT BANK/TH 3.19 11/26/41 AUD 73.02 KOREA DEVELOPMENT BANK/TH 2.42 05/20/49 KRW 72.78 KOREA DEVELOPMENT BANK/TH 2.40 05/20/49 KRW 71.09 KOREA DEVELOPMENT BANK/TH 2.30 10/11/46 KRW 70.81 KOREA DEVELOPMENT BANK/TH 2.63 07/02/51 KRW 70.41 KOREA DEVELOPMENT BANK/TH 2.78 10/18/41 AUD 69.03 KOREA DEVELOPMENT BANK/TH 2.37 09/29/46 KRW 68.66 KOREA DEVELOPMENT BANK/TH 2.12 06/21/49 KRW 67.35 KOREA DEVELOPMENT BANK/TH 2.30 08/30/51 KRW 67.26 KOREA DEVELOPMENT BANK/TH 2.30 08/30/51 KRW 67.26 KOREA DEVELOPMENT BANK/TH 2.14 06/21/49 KRW 67.23 KOREA DEVELOPMENT BANK/TH 2.55 09/28/41 AUD 66.06 KOREA DEVELOPMENT BANK/TH 2.50 09/28/41 AUD 65.57 KOREA DEVELOPMENT BANK/TH 1.91 09/18/50 KRW 65.43 KOREA DEVELOPMENT BANK/TH 1.86 10/19/50 KRW 64.47 KOREA DEVELOPMENT BANK/TH 2.00 07/31/49 KRW 64.25 KOREA DEVELOPMENT BANK/TH 2.00 08/01/49 KRW 64.05 KOREA DEVELOPMENT BANK/TH 2.00 08/01/49 KRW 64.05 KOREA DEVELOPMENT BANK/TH 1.85 09/24/49 KRW 63.78 KOREA DISTRICT HEATING CO 1.98 04/26/39 KRW 73.35 KOREA DISTRICT HEATING CO 1.88 11/06/39 KRW 71.60 KOREA EAST-WEST POWER CO 2.62 11/03/41 KRW 70.36 KOREA EAST-WEST POWER CO 2.30 11/05/38 KRW 69.88 KOREA EAST-WEST POWER CO 2.56 11/22/41 KRW 69.37 KOREA EAST-WEST POWER CO 2.18 03/07/39 KRW 67.88 KOREA EAST-WEST POWER CO 2.52 11/22/51 KRW 61.45 KOREA EAST-WEST POWER CO 1.78 11/24/40 KRW 61.19 KOREA EAST-WEST POWER CO 1.70 07/16/40 KRW 60.89 KOREA EAST-WEST POWER CO 1.47 10/07/39 KRW 59.45 KOREA EAST-WEST POWER CO 2.23 11/05/48 KRW 59.36 KOREA EAST-WEST POWER CO 2.16 03/07/49 KRW 57.95 KOREA EAST-WEST POWER CO 1.70 07/16/50 KRW 50.30 KOREA EAST-WEST POWER CO 1.42 10/07/49 KRW 46.91 KOREA ELECTRIC POWER CORP 2.30 10/29/48 KRW 68.16 KOREA ELECTRIC POWER CORP 1.71 10/24/49 KRW 58.37 KOREA EXPRESSWAY CORP 2.58 01/21/52 KRW 74.34 KOREA EXPRESSWAY CORP 2.54 12/08/47 KRW 74.04 KOREA EXPRESSWAY CORP 2.15 03/26/41 KRW 73.86 KOREA EXPRESSWAY CORP 2.59 10/28/51 KRW 73.83 KOREA EXPRESSWAY CORP 2.15 04/15/41 KRW 73.62 KOREA EXPRESSWAY CORP 2.07 07/23/41 KRW 72.78 KOREA EXPRESSWAY CORP 2.35 03/17/47 KRW 72.37 KOREA EXPRESSWAY CORP 1.54 07/20/36 KRW 72.35 KOREA EXPRESSWAY CORP 2.31 06/21/47 KRW 72.05 KOREA EXPRESSWAY CORP 2.35 09/21/47 KRW 71.88 KOREA EXPRESSWAY CORP 2.30 02/17/47 KRW 71.81 KOREA EXPRESSWAY CORP 2.43 11/19/51 KRW 70.94 KOREA EXPRESSWAY CORP 2.30 09/14/48 KRW 70.89 KOREA EXPRESSWAY CORP 2.35 12/16/51 KRW 70.68 KOREA EXPRESSWAY CORP 2.40 11/11/51 KRW 70.55 KOREA EXPRESSWAY CORP 2.39 10/14/51 KRW 70.52 KOREA EXPRESSWAY CORP 1.78 04/02/40 KRW 70.15 KOREA EXPRESSWAY CORP 1.73 04/24/40 KRW 69.31 KOREA EXPRESSWAY CORP 2.28 04/08/51 KRW 69.03 KOREA EXPRESSWAY CORP 1.73 11/05/40 KRW 68.84 KOREA EXPRESSWAY CORP 2.30 12/03/51 KRW 68.77 KOREA EXPRESSWAY CORP 2.20 11/22/48 KRW 68.56 KOREA EXPRESSWAY CORP 1.63 06/18/40 KRW 68.49 KOREA EXPRESSWAY CORP 2.20 06/17/51 KRW 68.26 KOREA EXPRESSWAY CORP 2.15 02/22/49 KRW 68.22 KOREA EXPRESSWAY CORP 2.14 03/08/49 KRW 68.04 KOREA EXPRESSWAY CORP 2.13 03/19/49 KRW 67.77 KOREA EXPRESSWAY CORP 2.18 03/11/51 KRW 67.61 KOREA EXPRESSWAY CORP 2.01 05/25/46 KRW 67.55 KOREA EXPRESSWAY CORP 1.58 05/21/40 KRW 67.26 KOREA EXPRESSWAY CORP 2.14 07/09/51 KRW 67.15 KOREA EXPRESSWAY CORP 2.10 09/09/51 KRW 65.83 KOREA EXPRESSWAY CORP 1.90 11/10/46 KRW 65.54 KOREA EXPRESSWAY CORP 2.00 12/07/48 KRW 65.47 KOREA EXPRESSWAY CORP 1.98 04/25/49 KRW 65.14 KOREA EXPRESSWAY CORP 2.04 08/13/51 KRW 65.07 KOREA EXPRESSWAY CORP 1.96 04/11/49 KRW 64.99 KOREA EXPRESSWAY CORP 1.85 10/24/46 KRW 64.97 KOREA EXPRESSWAY CORP 1.86 12/23/50 KRW 62.69 KOREA EXPRESSWAY CORP 1.79 05/30/49 KRW 61.81 KOREA EXPRESSWAY CORP 1.57 08/26/46 KRW 61.28 KOREA EXPRESSWAY CORP 1.81 11/12/50 KRW 61.23 KOREA EXPRESSWAY CORP 1.71 04/09/50 KRW 60.26 KOREA EXPRESSWAY CORP 1.71 10/29/50 KRW 59.65 KOREA EXPRESSWAY CORP 1.52 03/12/50 KRW 57.61 KOREA EXPRESSWAY CORP 1.47 09/25/49 KRW 56.71 KOREA EXPRESSWAY CORP 1.32 08/22/49 KRW 54.65 KOREA GAS CORP 1.77 06/22/36 KRW 74.29 KOREA GAS CORP 1.80 08/22/44 KRW 70.41 KOREA GAS CORP 1.70 11/28/39 KRW 69.19 KOREA GAS CORP 1.66 02/20/40 KRW 68.40 KOREA GAS CORP 1.60 10/17/39 KRW 68.19 KOREA HYDRO & NUCLEAR POW 2.60 11/03/41 KRW 71.05 KOREA HYDRO & NUCLEAR POW 2.49 10/14/41 KRW 69.86 KOREA HYDRO & NUCLEAR POW 2.88 05/11/48 KRW 69.74 KOREA HYDRO & NUCLEAR POW 3.02 03/11/52 KRW 69.61 KOREA HYDRO & NUCLEAR POW 2.97 02/17/52 KRW 69.06 KOREA HYDRO & NUCLEAR POW 2.81 06/05/48 KRW 68.49 KOREA HYDRO & NUCLEAR POW 2.31 06/29/41 KRW 68.06 KOREA HYDRO & NUCLEAR POW 2.47 10/17/47 KRW 64.54 KOREA HYDRO & NUCLEAR POW 1.81 06/05/39 KRW 64.30 KOREA HYDRO & NUCLEAR POW 2.41 09/18/47 KRW 63.90 KOREA HYDRO & NUCLEAR POW 2.59 11/03/51 KRW 63.49 KOREA HYDRO & NUCLEAR POW 1.80 04/02/40 KRW 63.44 KOREA HYDRO & NUCLEAR POW 1.81 04/28/40 KRW 63.34 KOREA HYDRO & NUCLEAR POW 1.76 11/27/39 KRW 63.14 KOREA HYDRO & NUCLEAR POW 1.80 11/23/40 KRW 62.33 KOREA HYDRO & NUCLEAR POW 1.59 10/16/39 KRW 61.61 KOREA HYDRO & NUCLEAR POW 2.45 10/14/51 KRW 61.57 KOREA HYDRO & NUCLEAR POW 1.63 06/15/40 KRW 61.20 KOREA HYDRO & NUCLEAR POW 2.25 10/26/48 KRW 60.48 KOREA HYDRO & NUCLEAR POW 1.57 05/25/40 KRW 60.30 KOREA HYDRO & NUCLEAR POW 2.31 06/29/51 KRW 59.68 KOREA HYDRO & NUCLEAR POW 1.82 06/05/49 KRW 53.47 KOREA HYDRO & NUCLEAR POW 1.83 04/28/50 KRW 53.14 KOREA HYDRO & NUCLEAR POW 1.80 04/02/50 KRW 52.87 KOREA HYDRO & NUCLEAR POW 1.78 11/23/50 KRW 51.78 KOREA HYDRO & NUCLEAR POW 1.70 11/27/49 KRW 51.44 KOREA HYDRO & NUCLEAR POW 1.66 06/15/50 KRW 50.66 KOREA HYDRO & NUCLEAR POW 1.58 10/16/49 KRW 49.90 KOREA HYDRO & NUCLEAR POW 1.59 05/25/50 KRW 49.32 KOREA LAND & HOUSING CORP 3.00 11/04/51 KRW 73.85 KOREA LAND & HOUSING CORP 2.36 01/26/46 KRW 73.65 KOREA LAND & HOUSING CORP 2.45 08/29/48 KRW 73.12 KOREA LAND & HOUSING CORP 2.08 02/23/41 KRW 73.02 KOREA LAND & HOUSING CORP 1.60 09/28/36 KRW 72.25 KOREA LAND & HOUSING CORP 2.32 06/16/47 KRW 72.03 KOREA LAND & HOUSING CORP 2.31 01/18/47 KRW 72.01 KOREA LAND & HOUSING CORP 1.57 09/08/36 KRW 71.74 KOREA LAND & HOUSING CORP 2.29 06/22/47 KRW 71.60 KOREA LAND & HOUSING CORP 1.89 01/22/41 KRW 70.81 KOREA LAND & HOUSING CORP 2.37 10/20/51 KRW 70.18 KOREA LAND & HOUSING CORP 2.33 05/25/51 KRW 69.49 KOREA LAND & HOUSING CORP 1.68 07/02/40 KRW 68.69 KOREA LAND & HOUSING CORP 1.66 08/27/40 KRW 68.10 KOREA LAND & HOUSING CORP 1.61 06/10/40 KRW 67.48 KOREA LAND & HOUSING CORP 2.15 03/05/51 KRW 67.11 KOREA LAND & HOUSING CORP 2.15 09/15/51 KRW 66.74 KOREA LAND & HOUSING CORP 1.83 10/19/46 KRW 64.45 KOREA LAND & HOUSING CORP 1.97 01/29/51 KRW 64.37 KOREA LAND & HOUSING CORP 1.87 05/24/49 KRW 63.13 KOREA LAND & HOUSING CORP 1.61 07/19/46 KRW 62.05 KOREA LAND & HOUSING CORP 1.62 07/27/46 KRW 62.04 KOREA LAND & HOUSING CORP 1.74 01/22/50 KRW 61.52 KOREA LAND & HOUSING CORP 1.78 04/08/50 KRW 61.48 KOREA LAND & HOUSING CORP 1.78 04/29/50 KRW 61.29 KOREA LAND & HOUSING CORP 2.17 10/30/68 KRW 60.56 KOREA LAND & HOUSING CORP 1.70 06/13/49 KRW 60.44 KOREA LAND & HOUSING CORP 1.67 07/07/50 KRW 59.87 KOREA LAND & HOUSING CORP 1.66 09/18/50 KRW 59.31 KOREA LAND & HOUSING CORP 1.65 08/27/50 KRW 59.28 KOREA LAND & HOUSING CORP 1.54 03/09/50 KRW 57.89 KOREA LAND & HOUSING CORP 1.57 05/27/50 KRW 57.62 KOREA LAND & HOUSING CORP 1.28 08/23/49 KRW 54.01 KOREA MIDLAND POWER CO LT 2.70 07/09/38 KRW 74.81 KOREA MIDLAND POWER CO LT 2.47 08/03/37 KRW 73.21 KOREA MIDLAND POWER CO LT 2.83 01/17/42 KRW 72.78 KOREA MIDLAND POWER CO LT 2.30 09/10/38 KRW 69.81 KOREA MIDLAND POWER CO LT 2.24 10/31/38 KRW 69.27 KOREA MIDLAND POWER CO LT 3.01 02/17/52 KRW 68.83 KOREA MIDLAND POWER CO LT 2.19 02/08/39 KRW 68.31 KOREA MIDLAND POWER CO LT 2.87 01/24/52 KRW 66.89 KOREA MIDLAND POWER CO LT 1.96 05/21/39 KRW 65.27 KOREA MIDLAND POWER CO LT 1.92 10/30/39 KRW 64.36 KOREA MIDLAND POWER CO LT 1.75 06/18/39 KRW 63.15 KOREA MIDLAND POWER CO LT 1.66 06/18/40 KRW 60.65 KOREA MIDLAND POWER CO LT 1.59 03/18/40 KRW 60.27 KOREA MIDLAND POWER CO LT 1.64 07/21/40 KRW 60.11 KOREA MIDLAND POWER CO LT 1.66 08/25/40 KRW 60.10 KOREA MIDLAND POWER CO LT 2.26 09/10/48 KRW 59.68 KOREA MIDLAND POWER CO LT 1.53 02/25/40 KRW 59.35 KOREA MIDLAND POWER CO LT 2.17 10/31/48 KRW 58.56 KOREA MIDLAND POWER CO LT 2.17 02/08/49 KRW 58.21 KOREA MIDLAND POWER CO LT 1.99 03/26/49 KRW 55.83 KOREA MIDLAND POWER CO LT 1.95 05/21/49 KRW 54.74 KOREA MIDLAND POWER CO LT 1.86 11/13/49 KRW 53.04 KOREA MIDLAND POWER CO LT 1.72 06/18/49 KRW 51.61 KOREA MIDLAND POWER CO LT 1.69 06/18/50 KRW 50.36 KOREA MIDLAND POWER CO LT 1.53 02/25/50 KRW 47.91 KOREA MINE REHABILITATION 2.06 04/03/40 KRW 72.23 KOREA MINE REHABILITATION 3.20 07/15/40 USD 70.87 KOREA MINE REHABILITATION 1.90 07/13/40 KRW 69.95 KOREA MINE REHABILITATION 3.01 02/26/40 AUD 65.91 KOREA MINE REHABILITATION 2.07 01/06/51 KRW 64.00 KOREA MINE REHABILITATION 1.93 07/15/50 KRW 62.02 KOREA OCEAN BUSINESS CORP 2.01 03/28/49 KRW 65.84 KOREA OCEAN BUSINESS CORP 1.70 04/16/50 KRW 60.12 KOREA OCEAN BUSINESS CORP 1.67 06/16/50 KRW 59.67 KOREA OCEAN BUSINESS CORP 1.69 10/27/50 KRW 59.42 KOREA OCEAN BUSINESS CORP 1.63 12/11/49 KRW 59.20 KOREA OCEAN BUSINESS CORP 1.59 05/22/50 KRW 58.15 KOREA OCEAN BUSINESS CORP 1.50 09/27/49 KRW 57.37 KOREA OVERSEAS INFRASTRUC 1.76 10/28/50 KRW 60.27 KOREA RAIL NETWORK AUTHOR 2.52 05/19/47 KRW 74.18 KOREA RAIL NETWORK AUTHOR 2.42 08/07/47 KRW 73.38 KOREA RAIL NETWORK AUTHOR 2.56 10/26/51 KRW 73.34 KOREA RAIL NETWORK AUTHOR 2.43 04/06/47 KRW 73.16 KOREA RAIL NETWORK AUTHOR 2.55 11/04/51 KRW 73.11 KOREA RAIL NETWORK AUTHOR 2.43 04/20/47 KRW 73.09 KOREA RAIL NETWORK AUTHOR 2.41 06/08/47 KRW 72.39 KOREA RAIL NETWORK AUTHOR 2.35 03/20/47 KRW 72.20 KOREA RAIL NETWORK AUTHOR 2.31 02/14/47 KRW 71.93 KOREA RAIL NETWORK AUTHOR 2.41 11/17/51 KRW 70.61 KOREA RAIL NETWORK AUTHOR 2.28 09/12/48 KRW 70.43 KOREA RAIL NETWORK AUTHOR 2.36 10/08/51 KRW 70.42 KOREA RAIL NETWORK AUTHOR 2.13 04/04/46 KRW 69.66 KOREA RAIL NETWORK AUTHOR 2.20 11/13/48 KRW 68.70 KOREA RAIL NETWORK AUTHOR 1.65 06/24/40 KRW 68.65 KOREA RAIL NETWORK AUTHOR 2.15 07/13/51 KRW 67.41 KOREA RAIL NETWORK AUTHOR 2.10 03/25/51 KRW 66.29 KOREA RAIL NETWORK AUTHOR 1.90 06/13/46 KRW 65.77 KOREA RAIL NETWORK AUTHOR 2.03 08/06/51 KRW 65.18 KOREA RAIL NETWORK AUTHOR 1.93 05/16/49 KRW 64.17 KOREA RAIL NETWORK AUTHOR 1.72 06/28/46 KRW 63.94 KOREA RAIL NETWORK AUTHOR 1.85 11/05/49 KRW 62.82 KOREA RAIL NETWORK AUTHOR 1.75 11/20/49 KRW 61.22 KOREA RAIL NETWORK AUTHOR 1.76 04/23/50 KRW 61.07 KOREA RAIL NETWORK AUTHOR 1.65 02/03/50 KRW 60.06 KOREA RAIL NETWORK AUTHOR 1.64 02/19/50 KRW 59.72 KOREA RAIL NETWORK AUTHOR 1.59 05/21/50 KRW 58.16 KOREA RAIL NETWORK AUTHOR 1.51 10/11/49 KRW 57.50 KOREA RAIL NETWORK AUTHOR 1.46 09/27/49 KRW 56.80 KOREA RAILROAD CORP 2.49 04/12/47 KRW 73.84 KOREA RAILROAD CORP 2.43 03/07/47 KRW 73.55 KOREA RAILROAD CORP 2.40 03/03/47 KRW 72.97 KOREA RAILROAD CORP 2.40 03/21/47 KRW 72.74 KOREA RAILROAD CORP 2.38 07/20/47 KRW 72.58 KOREA RAILROAD CORP 2.39 11/23/46 KRW 72.43 KOREA RAILROAD CORP 1.57 08/09/36 KRW 72.28 KOREA RAILROAD CORP 2.38 09/19/47 KRW 72.27 KOREA RAILROAD CORP 2.38 09/12/47 KRW 72.15 KOREA RAILROAD CORP 2.51 11/05/51 KRW 72.06 KOREA RAILROAD CORP 1.56 08/26/36 KRW 72.02 KOREA RAILROAD CORP 2.35 12/06/46 KRW 71.85 KOREA RAILROAD CORP 2.13 03/13/49 KRW 67.49 KOREA RAILROAD CORP 2.19 04/14/51 KRW 67.21 KOREA RAILROAD CORP 1.94 11/03/46 KRW 66.10 KOREA RAILROAD CORP 2.00 04/05/49 KRW 65.30 KOREA RAILROAD CORP 2.01 04/24/49 KRW 65.26 KOREA RAILROAD CORP 2.04 07/22/51 KRW 65.11 KOREA RAILROAD CORP 1.88 10/27/46 KRW 65.11 KOREA RAILROAD CORP 1.67 04/14/50 KRW 59.52 KOREA RAILROAD CORP 1.59 07/18/49 KRW 59.03 KOREA RAILROAD CORP 1.61 08/12/50 KRW 58.27 KOREA RAILROAD CORP 1.56 03/18/50 KRW 57.94 KOREA RAILROAD CORP 1.47 09/19/49 KRW 56.60 KOREA RAILROAD CORP 1.44 07/26/49 KRW 56.48 KOREA RAILROAD CORP 1.31 08/29/49 KRW 54.24 KOREA SMES AND STARTUPS A 1.84 11/14/39 KRW 71.21 KOREA SMES AND STARTUPS A 1.78 03/20/40 KRW 70.27 KOREA SMES AND STARTUPS A 1.76 09/03/40 KRW 69.21 KOREA SMES AND STARTUPS A 1.64 10/16/40 KRW 67.83 KOREA SMES AND STARTUPS A 1.31 08/09/39 KRW 65.14 KOREA SMES AND STARTUPS A 1.87 03/24/50 KRW 63.32 KOREA SOUTH-EAST POWER CO 2.64 07/26/38 KRW 73.95 KOREA SOUTH-EAST POWER CO 3.13 03/28/52 KRW 71.00 KOREA SOUTH-EAST POWER CO 2.32 11/09/38 KRW 70.02 KOREA SOUTH-EAST POWER CO 2.77 04/12/48 KRW 67.72 KOREA SOUTH-EAST POWER CO 2.60 07/26/48 KRW 65.02 KOREA SOUTH-EAST POWER CO 1.97 01/26/41 KRW 63.35 KOREA SOUTH-EAST POWER CO 1.68 06/26/39 KRW 62.32 KOREA SOUTH-EAST POWER CO 2.47 11/09/51 KRW 60.80 KOREA SOUTH-EAST POWER CO 1.63 06/11/40 KRW 59.96 KOREA SOUTH-EAST POWER CO 2.19 11/09/48 KRW 58.77 KOREA SOUTH-EAST POWER CO 1.96 01/26/51 KRW 53.73 KOREA SOUTH-EAST POWER CO 1.69 06/26/49 KRW 51.15 KOREA SOUTH-EAST POWER CO 1.65 06/11/50 KRW 49.31 KOREA SOUTHERN POWER CO L 2.57 07/07/37 KRW 74.44 KOREA SOUTHERN POWER CO L 2.50 06/16/37 KRW 73.91 KOREA SOUTHERN POWER CO L 2.60 06/03/41 KRW 71.76 KOREA SOUTHERN POWER CO L 2.66 11/04/41 KRW 70.73 KOREA SOUTHERN POWER CO L 2.38 07/28/41 KRW 67.58 KOREA SOUTHERN POWER CO L 1.84 11/20/39 KRW 63.32 KOREA SOUTHERN POWER CO L 2.59 11/04/51 KRW 62.67 KOREA SOUTHERN POWER CO L 2.43 09/28/48 KRW 62.65 KOREA SOUTHERN POWER CO L 1.67 12/19/39 KRW 61.48 KOREA SOUTHERN POWER CO L 1.66 06/18/40 KRW 60.65 KOREA SOUTHERN POWER CO L 1.66 06/25/40 KRW 60.65 KOREA SOUTHERN POWER CO L 1.33 08/13/39 KRW 57.96 KOREA SOUTHERN POWER CO L 1.80 11/20/49 KRW 52.19 KOREA SOUTHERN POWER CO L 1.68 06/25/50 KRW 50.11 KOREA SOUTHERN POWER CO L 1.63 12/19/49 KRW 49.88 KOREA SOUTHERN POWER CO L 1.29 08/13/49 KRW 44.93 KOREA STUDENT AID FOUNDAT 1.69 10/25/36 KRW 73.17 KOREA STUDENT AID FOUNDAT 1.63 09/22/36 KRW 72.88 KOREA STUDENT AID FOUNDAT 1.52 08/25/36 KRW 71.96 KOREA STUDENT AID FOUNDAT 1.52 08/24/36 KRW 71.95 KOREA STUDENT AID FOUNDAT 1.54 09/28/36 KRW 71.81 KOREA STUDENT AID FOUNDAT 1.88 03/25/40 KRW 71.70 KOREA STUDENT AID FOUNDAT 1.41 09/06/39 KRW 66.59 KOREA TREASURY BOND 1.50 09/10/40 KRW 74.36 KOREA TREASURY BOND 1.88 03/10/51 KRW 70.92 KOREA TREASURY BOND 1.13 09/10/39 KRW 70.47 KOREA TREASURY BOND 2.00 09/10/68 KRW 67.07 KOREA TREASURY BOND 1.50 03/10/50 KRW 65.85 KOREA TREASURY BOND 1.63 09/10/70 KRW 57.60 KOREA TREASURY BOND 1.50 09/10/66 KRW 56.37 KOREA WATER RESOURCES COR 2.37 12/18/43 KRW 75.00 KOREA WATER RESOURCES COR 1.76 10/18/36 KRW 73.79 KOREA WATER RESOURCES COR 1.56 08/24/35 KRW 73.52 KOREA WATER RESOURCES COR 2.39 03/24/47 KRW 73.14 KOREA WATER RESOURCES COR 2.41 12/13/46 KRW 72.98 KOREA WATER RESOURCES COR 2.30 02/09/47 KRW 72.05 KOREA WATER RESOURCES COR 1.74 06/14/39 KRW 70.96 KOREA WATER RESOURCES COR 2.94 03/13/48 KRW 70.49 KOREA WATER RESOURCES COR 2.56 05/26/51 KRW 67.75 KOREA WATER RESOURCES COR 1.97 12/20/48 KRW 66.08 KOREA WATER RESOURCES COR 1.83 06/24/46 KRW 65.89 KOREA WATER RESOURCES COR 1.82 06/22/46 KRW 65.67 KOREA WATER RESOURCES COR 1.71 01/10/50 KRW 61.19 KOREA WATER RESOURCES COR 1.68 07/01/49 KRW 60.88 KOREA WATER RESOURCES COR 1.63 07/16/49 KRW 60.13 KOREA WATER RESOURCES COR 1.63 10/21/49 KRW 59.39 KOREA WATER RESOURCES COR 1.54 03/13/50 KRW 57.99 KOREA WESTERN POWER CO LT 2.47 06/23/37 KRW 73.54 KOREA WESTERN POWER CO LT 2.47 07/21/37 KRW 73.28 KOREA WESTERN POWER CO LT 2.51 09/05/37 KRW 73.27 KOREA WESTERN POWER CO LT 2.78 01/24/42 KRW 72.24 KOREA WESTERN POWER CO LT 3.20 03/28/52 KRW 72.08 KOREA WESTERN POWER CO LT 2.27 09/14/38 KRW 70.05 KOREA WESTERN POWER CO LT 2.25 11/01/38 KRW 69.33 KOREA WESTERN POWER CO LT 2.50 11/10/41 KRW 68.82 KOREA WESTERN POWER CO LT 2.81 04/20/48 KRW 68.25 KOREA WESTERN POWER CO LT 2.46 09/28/47 KRW 63.83 KOREA WESTERN POWER CO LT 1.69 06/23/40 KRW 61.02 KOREA WESTERN POWER CO LT 1.68 08/27/40 KRW 60.33 KOREA WESTERN POWER CO LT 2.25 09/14/48 KRW 60.04 KOREA WESTERN POWER CO LT 1.59 05/28/40 KRW 59.61 KOREA WESTERN POWER CO LT 2.20 11/01/48 KRW 58.99 KOREA WESTERN POWER CO LT 1.88 12/22/50 KRW 52.74 KOREA WESTERN POWER CO LT 1.76 11/05/50 KRW 50.77 KOREA WESTERN POWER CO LT 1.68 08/27/50 KRW 49.70 KOREA WESTERN POWER CO LT 1.62 05/28/50 KRW 48.93 KT CORP 2.21 01/14/39 KRW 69.84 KT CORP 1.98 01/25/41 KRW 64.49 KT CORP 1.67 10/11/39 KRW 62.74 KT CORP 1.71 06/15/40 KRW 62.36 LG CHEM LTD 2.22 02/19/36 KRW 73.26 LG ELECTRONICS INC 2.22 02/25/35 KRW 73.82 LG ELECTRONICS INC 2.83 02/09/41 KRW 71.15 LG ELECTRONICS INC 2.66 07/06/40 KRW 68.85 LG UPLUS CORP 2.14 07/02/34 KRW 74.33 LG UPLUS CORP 3.01 01/26/42 KRW 74.04 LG UPLUS CORP 2.94 11/01/41 KRW 73.39 LG UPLUS CORP 2.06 01/21/35 KRW 72.53 LG UPLUS CORP 2.10 02/02/36 KRW 71.16 SAMPYO CEMENT CO LTD 8.10 06/26/15 KRW 70.00 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 7.50 07/20/14 KRW 70.00 SAMPYO CEMENT CO LTD 8.30 04/20/14 KRW 70.00 SANUPKIBAN SINBO SECURITI 3.40 02/16/51 KRW 75.28 SANUPKIBANSINBO BUSAN-GIM 1.81 10/01/34 KRW 72.21 SANUPKIBANSINBO BUSAN-GIM 1.83 10/01/36 KRW 68.95 SANUPKIBANSINBO BUSAN-GIM 1.85 10/01/38 KRW 66.01 SANUPKIBANSINBO BUSAN-GIM 1.87 10/01/40 KRW 63.38 SANUPKIBANSINBO BUSAN-GIM 1.89 09/17/41 KRW 62.39 SEOUL METROPOLITAN CITY B 1.85 10/30/49 KRW 70.88 SEOUL METROPOLITAN CITY B 1.69 11/22/49 KRW 67.93 SHINHAN BANK CO LTD 1.80 08/29/39 KRW 70.77 SINBO SECURITIZATION SPEC 5.00 01/29/23 KRW 75.00 SK HYNIX INC 2.38 01/19/31 USD 74.55 SK HYNIX INC 2.38 01/19/31 USD 73.96 SK TELECOM CO LTD 2.24 03/04/36 KRW 73.21 SK TELECOM CO LTD 2.44 09/17/38 KRW 72.43 SK TELECOM CO LTD 2.68 10/28/41 KRW 71.69 SK TELECOM CO LTD 2.23 03/06/39 KRW 69.07 SK TELECOM CO LTD 1.87 01/14/40 KRW 64.08 SK TELECOM CO LTD 1.81 10/22/39 KRW 63.72 SK TELECOM CO LTD 1.89 01/15/41 KRW 63.10 SK TELECOM CO LTD 1.76 10/19/40 KRW 61.80 SK TELECOM CO LTD 1.52 07/29/39 KRW 60.78 SK TELECOM CO LTD 1.56 07/29/49 KRW 49.64 SRI LANKA --------- SRI LANKA GOVERNMENT BOND 18.00 05/01/27 LKR 74.91 SRI LANKA GOVERNMENT BOND 18.00 01/15/28 LKR 72.42 SRI LANKA GOVERNMENT BOND 10.25 03/15/25 LKR 71.68 SRI LANKA GOVERNMENT BOND 6.00 12/01/24 LKR 69.14 SRI LANKA GOVERNMENT BOND 11.00 08/01/25 LKR 68.89 SRI LANKA GOVERNMENT BOND 9.00 05/01/25 LKR 68.45 SRI LANKA GOVERNMENT BOND 18.00 05/15/31 LKR 68.21 SRI LANKA GOVERNMENT BOND 10.35 10/15/25 LKR 66.86 SRI LANKA GOVERNMENT BOND 18.00 07/01/32 LKR 65.85 SRI LANKA GOVERNMENT BOND 11.00 06/01/26 LKR 63.61 SRI LANKA GOVERNMENT BOND 11.50 08/01/26 LKR 63.16 SRI LANKA GOVERNMENT BOND 9.00 02/01/26 LKR 61.82 SRI LANKA GOVERNMENT BOND 11.40 01/15/27 LKR 61.57 SRI LANKA GOVERNMENT BOND 11.75 06/15/27 LKR 60.55 SRI LANKA GOVERNMENT BOND 13.50 01/01/44 LKR 60.22 SRI LANKA GOVERNMENT BOND 13.50 06/01/44 LKR 60.18 SRI LANKA GOVERNMENT BOND 13.00 01/01/29 LKR 59.48 SRI LANKA GOVERNMENT BOND 13.00 05/01/29 LKR 58.70 SRI LANKA GOVERNMENT BOND 6.75 01/15/26 LKR 57.79 SRI LANKA GOVERNMENT BOND 11.25 12/15/27 LKR 57.08 SRI LANKA GOVERNMENT BOND 11.50 09/01/28 LKR 56.54 SRI LANKA GOVERNMENT BOND 10.75 03/15/28 LKR 56.16 SRI LANKA GOVERNMENT BOND 12.50 03/01/45 LKR 56.07 SRI LANKA GOVERNMENT BOND 10.30 10/15/27 LKR 55.31 SRI LANKA GOVERNMENT BOND 12.00 01/01/41 LKR 54.13 SRI LANKA GOVERNMENT BOND 5.35 03/01/26 LKR 53.70 SRI LANKA GOVERNMENT BOND 13.25 01/01/34 LKR 52.46 SRI LANKA GOVERNMENT BOND 13.25 07/01/33 LKR 51.65 SRI LANKA GOVERNMENT BOND 11.00 05/15/30 LKR 50.89 SRI LANKA GOVERNMENT BOND 9.00 05/01/28 LKR 50.76 SRI LANKA GOVERNMENT BOND 12.00 12/01/31 LKR 50.39 SRI LANKA GOVERNMENT BOND 11.25 03/15/31 LKR 50.26 SRI LANKA GOVERNMENT BOND 9.00 07/01/28 LKR 49.87 SRI LANKA GOVERNMENT BOND 7.80 08/15/27 LKR 49.73 SRI LANKA GOVERNMENT BOND 11.50 03/15/35 LKR 47.42 SRI LANKA GOVERNMENT BOND 11.20 01/15/33 LKR 45.19 SRILANKAN AIRLINES LTD 7.00 06/25/24 USD 44.79 SRI LANKA GOVERNMENT BOND 10.50 08/15/39 LKR 41.88 SRI LANKA GOVERNMENT BOND 10.25 09/15/34 LKR 41.68 SRI LANKA GOVERNMENT BOND 9.00 06/01/43 LKR 40.62 SRI LANKA GOVERNMENT BOND 9.00 10/01/32 LKR 38.87 SRI LANKA GOVERNMENT BOND 9.00 06/01/33 LKR 37.25 SRI LANKA GOVERNMENT BOND 9.00 11/01/33 LKR 36.98 SRI LANKA GOVERNMENT BOND 8.00 01/01/32 LKR 36.64 SRI LANKA GOVERNMENT INTE 6.13 06/03/25 USD 30.97 SRI LANKA GOVERNMENT INTE 6.13 06/03/25 USD 30.96 SRI LANKA GOVERNMENT INTE 6.85 11/03/25 USD 30.21 SRI LANKA GOVERNMENT INTE 6.85 11/03/25 USD 30.19 SRI LANKA GOVERNMENT INTE 5.88 07/25/22 USD 30.08 SRI LANKA GOVERNMENT INTE 6.83 07/18/26 USD 30.06 SRI LANKA GOVERNMENT INTE 6.83 07/18/26 USD 30.05 SRI LANKA GOVERNMENT INTE 5.88 07/25/22 USD 30.04 SRI LANKA GOVERNMENT INTE 5.75 04/18/23 USD 29.82 SRI LANKA GOVERNMENT INTE 5.75 04/18/23 USD 29.45 SRI LANKA GOVERNMENT INTE 6.75 04/18/28 USD 29.33 SRI LANKA GOVERNMENT INTE 6.85 03/14/24 USD 29.32 SRI LANKA GOVERNMENT INTE 6.20 05/11/27 USD 29.30 SRI LANKA GOVERNMENT INTE 6.35 06/28/24 USD 29.29 SRI LANKA GOVERNMENT INTE 7.55 03/28/30 USD 29.29 SRI LANKA GOVERNMENT INTE 6.35 06/28/24 USD 29.21 SRI LANKA GOVERNMENT INTE 7.85 03/14/29 USD 29.21 SRI LANKA GOVERNMENT INTE 6.85 03/14/24 USD 29.20 SRI LANKA GOVERNMENT INTE 7.55 03/28/30 USD 29.12 SRI LANKA GOVERNMENT INTE 6.75 04/18/28 USD 29.11 SRI LANKA GOVERNMENT INTE 6.20 05/11/27 USD 29.11 SRI LANKA GOVERNMENT INTE 7.85 03/14/29 USD 29.04 MALAYSIA -------- AXIATA SPV5 LABUAN LTD 3.06 08/19/50 USD 69.49 BERJAYA CORP BHD 2.00 05/29/26 MYR 0.23 CAPITAL A BHD 8.00 12/29/28 MYR 0.67 HUME CEMENT INDUSTRIES BH 5.00 05/29/24 MYR 1.27 MALAYAN FLOUR MILLS BHD 5.00 01/24/24 MYR 1.66 MEX I CAPITAL BHD 2.60 01/23/34 MYR 74.25 MEX I CAPITAL BHD 2.60 01/22/35 MYR 71.29 MEX I CAPITAL BHD 2.60 01/21/36 MYR 69.28 MEX I CAPITAL BHD 2.60 01/21/37 MYR 69.05 MEX I CAPITAL BHD 2.60 01/21/39 MYR 65.88 MEX I CAPITAL BHD 2.60 01/21/38 MYR 65.32 MEX I CAPITAL BHD 2.60 01/23/40 MYR 61.55 MEX I CAPITAL BHD 0.10 07/21/42 MYR 30.32 PENGURUSAN AIR SPV BHD 1.00 09/28/35 MYR 62.61 PENGURUSAN AIR SPV BHD 1.00 11/05/35 MYR 62.33 PENGURUSAN AIR SPV BHD 1.00 02/05/36 MYR 62.11 PENGURUSAN AIR SPV BHD 1.00 11/11/36 MYR 59.87 PETRONAS CAPITAL LTD 3.40 04/28/61 USD 74.01 PETRONAS CAPITAL LTD 3.40 04/28/61 USD 73.71 PMB TECHNOLOGY BHD 3.00 07/12/23 MYR 19.80 SCANWOLF CORP BHD 3.00 08/04/26 MYR 0.28 SD INTERNATIONAL SUKUK II 7.00 03/12/25 USD 1.89 SD INTERNATIONAL SUKUK LT 6.30 05/09/22 USD 5.15 YB VENTURES BHD 0.10 09/05/26 MYR 0.04 NEW ZEALAND ----------- AUCKLAND COUNCIL 2.95 09/28/50 NZD 58.95 HOUSING NEW ZEALAND LTD 1.53 09/10/35 NZD 69.05 NEW ZEALAND GOVERNMENT BO 1.75 05/15/41 NZD 67.38 NEW ZEALAND LOCAL GOVERNM 2.00 04/15/37 NZD 68.17 PHILIPPINES ----------- BAYAN TELECOMMUNICATIONS 15.00 07/15/06 USD 17.25 GLOBE TELECOM INC 3.00 07/23/35 USD 70.45 PHILIPPINE GOVERNMENT BON 4.63 09/09/40 PHP 73.78 PHILIPPINE GOVERNMENT INT 2.95 05/05/45 USD 73.25 PHILIPPINE GOVERNMENT INT 2.65 12/10/45 USD 68.83 PHILIPPINE GOVERNMENT INT 1.75 04/28/41 EUR 68.58 PLDT INC 3.45 06/23/50 USD 66.66 SINGAPORE --------- APL REALTY HOLDINGS PTE L 5.95 06/02/24 USD 45.09 ASL MARINE HOLDINGS LTD 3.00 10/01/26 SGD 41.50 ASL MARINE HOLDINGS LTD 3.00 03/28/25 SGD 41.50 BAKRIE TELECOM PTE LTD 11.50 05/07/15 USD 0.29 BAKRIE TELECOM PTE LTD 11.50 05/07/15 USD 0.29 BLD INVESTMENTS PTE LTD 8.63 03/23/15 USD 6.75 DBS BANK LTD 1.83 04/12/49 EUR 72.05 DBS BANK LTD 1.55 06/07/49 EUR 71.04 DBS BANK LTD 1.42 06/28/49 EUR 66.74 DBS BANK LTD 2.95 10/28/51 AUD 66.22 DBS BANK LTD 1.41 01/23/50 EUR 65.45 DBS BANK LTD 1.15 01/22/50 EUR 63.33 DBS BANK LTD 1.22 02/18/50 EUR 62.90 ENERCOAL RESOURCES PTE LT 9.25 08/05/14 USD 45.75 EZRA HOLDINGS LTD 4.88 04/24/18 SGD 5.00 GOLDEN LEGACY PTE LTD 6.88 03/27/24 USD 2.17 GOLDEN LEGACY PTE LTD 6.88 03/27/24 USD 1.95 HOUSING & DEVELOPMENT BOA 1.30 12/03/35 SGD 74.54 INDO INFRASTRUCTURE GROUP 2.00 07/30/10 USD 1.00 ITNL OFFSHORE PTE LTD 7.50 01/18/21 CNY 18.76 JGC VENTURES PTE LTD 3.00 06/30/25 USD 41.22 LMIRT CAPITAL PTE LTD 7.25 06/19/24 USD 69.72 LMIRT CAPITAL PTE LTD 7.50 02/09/26 USD 59.84 MICLYN EXPRESS OFFSHORE P 8.75 11/25/18 USD 0.68 MODERNLAND OVERSEAS PTE L 3.00 04/30/27 USD 43.00 MODERNLAND OVERSEAS PTE L 3.00 04/30/27 USD 41.69 NATIONAL ENVIRONMENT AGEN 2.50 09/15/51 SGD 70.57 NOMURA INTERNATIONAL FUND 1.82 05/29/35 EUR 74.62 NOMURA INTERNATIONAL FUND 3.74 04/20/40 USD 74.42 NOMURA INTERNATIONAL FUND 2.45 03/02/31 AUD 74.14 NOMURA INTERNATIONAL FUND 6.25 04/21/37 USD 71.58 NOMURA INTERNATIONAL FUND 6.02 07/20/37 USD 69.35 NOMURA INTERNATIONAL FUND 3.65 06/18/39 AUD 69.05 NOMURA INTERNATIONAL FUND 2.60 06/14/39 KRW 68.17 NOMURA INTERNATIONAL FUND 5.65 11/28/36 USD 67.67 NOMURA INTERNATIONAL FUND 19.50 08/28/28 TRY 67.40 NOMURA INTERNATIONAL FUND 2.31 01/06/36 AUD 63.69 NOMURA INTERNATIONAL FUND 2.31 12/03/35 AUD 63.50 NOMURA INTERNATIONAL FUND 7.65 10/04/37 AUD 62.81 NOMURA INTERNATIONAL FUND 3.17 10/30/44 AUD 60.78 NOMURA INTERNATIONAL FUND 1.38 07/31/44 EUR 60.47 NOMURA INTERNATIONAL FUND 3.90 06/18/50 USD 60.27 NOMURA INTERNATIONAL FUND 2.60 06/14/44 KRW 59.70 NT RIG HOLDCO PTE LTD 7.50 12/31/23 USD 0.25 ORO NEGRO DRILLING PTE LT 7.50 01/24/19 USD 0.41 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 5.55 10/10/16 SGD 12.25 SWIBER HOLDINGS LTD 7.75 09/18/17 CNY 6.13 SWIBER HOLDINGS LTD 7.13 04/18/17 SGD 6.13 TEMASEK FINANCIAL I LTD 2.38 08/02/41 USD 74.86 TEMASEK FINANCIAL I LTD 2.38 08/02/41 USD 74.19 TEMASEK FINANCIAL I LTD 1.25 11/20/49 EUR 73.12 TEMASEK FINANCIAL I LTD 2.75 08/02/61 USD 70.95 TEMASEK FINANCIAL I LTD 2.75 08/02/61 USD 70.92 TEMASEK FINANCIAL I LTD 2.80 08/17/71 SGD 68.86 TEMASEK FINANCIAL I LTD 2.25 04/06/51 USD 67.32 TEMASEK FINANCIAL I LTD 2.25 04/06/51 USD 66.29 TEMASEK FINANCIAL I LTD 2.50 10/06/70 USD 65.15 TEMASEK FINANCIAL I LTD 2.50 10/06/70 USD 64.68 THETA CAPITAL PTE LTD 6.75 10/31/26 USD 64.95 THAILAND -------- G STEEL PCL 3.00 10/04/15 USD 0.80 GC TREASURY CENTER CO LTD 4.30 03/18/51 USD 73.03 GC TREASURY CENTER CO LTD 4.30 03/18/51 USD 73.00 MDX PCL 4.75 09/17/03 USD 22.88 PTT TREASURY CENTER CO LT 3.70 07/16/70 USD 65.59 PTT TREASURY CENTER CO LT 3.70 07/16/70 USD 65.48 PTTEP TREASURY CENTER CO 3.90 12/06/59 USD 70.89 PTTEP TREASURY CENTER CO 3.90 12/06/59 USD 70.78 THAILAND GOVERNMENT BOND 1.88 06/17/49 THB 67.76 THAILAND GOVERNMENT BOND 2.50 06/17/71 THB 63.45 THAIOIL TREASURY CENTER C 3.75 06/18/50 USD 66.50 THAIOIL TREASURY CENTER C 3.75 06/18/50 USD 66.32 THAIOIL TREASURY CENTER C 3.50 10/17/49 USD 64.04 THAIOIL TREASURY CENTER C 3.50 10/17/49 USD 63.76 TAIWAN ------ TAIWAN GOVERNMENT BOND 0.38 11/27/50 TWD 72.63 TAIWAN SEMICONDUCTOR MANU 3.10 09/23/51 USD 74.03 TAIWAN SEMICONDUCTOR MANU 2.70 09/22/60 USD 63.06 VIETNAM ------- BIM LAND JSC 7.38 05/07/26 USD 59.30 NO VA LAND INVESTMENT GRO 5.25 07/16/26 USD 42.59 VIETNAM BANK FOR SOCIAL P 2.50 07/13/36 VND 74.39 VIETNAM BANK FOR SOCIAL P 2.50 08/10/36 VND 74.28 VIETNAM BANK FOR SOCIAL P 2.50 08/17/36 VND 74.26 VIETNAM GOVERNMENT BOND 2.40 01/14/36 VND 74.28 VIETNAM GOVERNMENT BOND 2.50 04/15/36 VND 74.04 VIETNAM GOVERNMENT BOND 2.40 06/10/36 VND 73.73 VIETNAM GOVERNMENT BOND 2.50 05/12/37 VND 73.28 VIETNAM GOVERNMENT BOND 2.30 08/12/36 VND 72.46 VIETNAM GOVERNMENT BOND 2.30 11/25/36 VND 72.07 VIETNAM GOVERNMENT BOND 2.20 09/09/36 VND 72.01 VIETNAM GOVERNMENT BOND 2.30 01/06/37 VND 71.86 VIETNAM GOVERNMENT BOND 2.80 01/14/41 VND 71.52 VIETNAM GOVERNMENT BOND 2.70 11/25/41 VND 69.24 VIETNAM GOVERNMENT BOND 2.70 01/06/42 VND 69.12 VIETNAM GOVERNMENT BOND 3.20 10/15/50 VND 67.58 VIETNAM GOVERNMENT BOND 3.10 01/14/51 VND 67.54 VIETNAM GOVERNMENT BOND 2.90 08/26/51 VND 64.28 VIETNAM GOVERNMENT BOND 2.90 01/13/52 VND 63.62 VINPEARL JSC 3.25 09/21/26 USD 73.43 ********* 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 2022. 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. *** End of Transmission ***