/raid1/www/Hosts/bankrupt/TCRAP_Public/230214.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, February 14, 2023, Vol. 26, No. 33

                           Headlines



A U S T R A L I A

BIG VILLAGE: Case Summary & 30 Largest Unsecured Creditors
BIG VILLAGE: Seeks Cash Collateral Access
DECORE PTY: First Creditors' Meeting Set for Feb. 20
DRUMMOYNE GI: First Creditors' Meeting Set for Feb. 20
LIBERTY FUNDING 2023-1: Moody's Gives (P)B2 Rating to Cl. F Notes

MECRUS PTY: Second Creditors' Meeting Set for Feb. 21
MOORABOOL VALLEY: First Creditors' Meetings Set for Feb. 20
PHANTOM KITCHENS: First Creditors' Meeting Set for Feb. 20


C H I N A

CHINA VANKE: Seeks US$2.2 Billion From Private Shares Sale
RADIANCE HOLDINGS: Moody's Downgrades CFR to B3, Outlook Negative
TD HOLDINGS: Chaoliang Yang Has 7.5% Equity Stake as of Jan. 30
TD HOLDINGS: Katie Ou Has 8% Equity Stake as of Jan. 30
YUNDA HOLDING: Denies Bankruptcy, Outlet Closures Rumor



I N D I A

ADANI GREEN: Moody's Affirms 'Ba3' Rating & Alters Outlook to Neg.
ADI K C: CRISIL Assigns B+ Rating to INR4.7cr Cash Loan
ALFARA'A INFRA: CRISIL Keeps D Debt Ratings in Not Cooperating
ALIENS DEVELOPERS: CRISIL Keeps D Debt Ratings in Not Cooperating
ANTARIKSH INFRABUILD: CRISIL Reaffirms B+ Rating on INR5cr Loan

ANUPAM INDUSTRIES: CRISIL Keeps D Debt Ratings in Not Cooperating
ASCON INFRATECH: Ind-Ra Assigns 'BB+' Long Term Issuer Rating
DALAL REALITIES: CRISIL Assigns C Rating to INR15cr Bank Debt
GUHAN TEXTILE: CRISIL Lowers Rating on INR7.75cr Loan to B+
INDICO MOTORS: Ind-Ra Keeps BB Issuer Rating in Non-Cooperating

IRB INFRASTRUCTURE: Fitch Affirms BB+ LongTerm IDR, Outlook Stable
JULIET APPARELS: CRISIL Lowers Rating on INR18.25cr Loan to B-
KAYNES TECHNOLOGY: CRISIL Keeps D Debt Rating in Not Cooperating
M/S AVIGNA: Ind-Ra Withdraws 'D' Long Term Issuer Rating
MCLEOD RUSSEL: NCLT Admits Insolvency Bid Against Company

MEDNOMIC HEALTHCARE: CRISIL Reaffirms B Rating on INR12.5cr Loan
N. K. BHOJANI: CRISIL Keeps D Debt Ratings in Not Cooperating
OMKAR SPECIALITY: CRISIL Keeps D Debt Ratings in Not Cooperating
PARANI SPINNING: CRISIL Lowers Rating on INR8.50cr Loan to B+
RAI BAHADUR: CRISIL Lowers Long and Short Term Debt Rating to D

RAI BAHADUR: Ind-Ra Corrects January 30, 2023 Rating Release
RCI INDUSTRIES: Ind-Ra Affirms 'D' Long Term Issuer Rating
ROLTAS PAPER: CRISIL Lowers Long and Short Term Debt Rating to D
RR METALMAKERS: CRISIL Reaffirms B Rating on INR6.5cr Cash Loan
SD INFRA: Ind-Ra Assigns B- Long Term Issuer Rating, Outlook Stable

SUPER CROP: CRISIL Lowers Rating on INR12cr Cash Loan to D
UPL ENVIRONMENTAL: CRISIL Reaffirms B Rating on INR0.75cr Loan


M A L A Y S I A

IQZAN HOLDING: Deadline to Submit Plan Extended to March 31


N E W   Z E A L A N D

ANDRASSY LIMITED: Court to Hear Wind-Up Petition on March 31
AUCKLAND HARDSCAPES: PKF Corporate Appointed as Liquidators
ELITE LANDSCAPE: Creditors' Proofs of Debt Due on March 14
PARADISE COATINGS: Court to Hear Wind-Up Petition on Feb. 20
WJC BUILDING: Court to Hear Wind-Up Petition on Feb. 17



P A K I S T A N

PAKISTAN: Resume Talks on Unlocking Bailout Funds, Official Says


S I N G A P O R E

CONFLUX FOUNDATION: Court to Hear Wind-Up Petition on Feb. 17
DERMATOLOGY & SURGERY CLINIC: Creditors' Meetings Set for Feb. 24
DERMATOLOGY & SURGERY: Under Judicial Management
LIPPO MALLS: Moody's Lowers CFR to Caa1, Outlook Remains Negative
SHAKTI SHIPPING: Court to Hear Wind-Up Petition on Feb. 17

WING WAI: Court to Hear Wind-Up Petition on Feb. 17


S R I   L A N K A

SRILANKAN AIRLINES: Defaults on US$175 Million State-Backed Bond


T H A I L A N D

THAI AIRWAYS: CEO Foresees Early Rehabilitation Exit


X X X X X X X X

[*] BOND PRICING: For the Week Feb. 6, 2023 to Feb. 10, 2023

                           - - - - -


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

BIG VILLAGE: Case Summary & 30 Largest Unsecured Creditors
----------------------------------------------------------
Lead Debtor: Big Village Holding LLC
             980 N. Michigan Ave, Suite 1300
             Chicago, IL 60611

Business Description: The Debtors are a global advertising,
                      technology, and data company with
                      operations in the United States, European
                      Union, and Australia.  The Debtors deliver
                      their advertising and digital content across
                      multiple media channels and online
                      platforms, and facilitate the implementation
                      of targeted, data-driven advertising
                      strategies which encompass all of the
                      technology and intelligence necessary to
                      execute global advertising campaigns.

Chapter 11 Petition Date: February 8, 2023

Court: United States Bankruptcy Court
       District of Delaware

Eleven affiliates that concurrently filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code:

     Debtor                                  Case No.
     ------                                  --------
     Big Village Holding LLC (Lead Debtor)   23-10174
     Big Village Group Holdings, LLC         23-10175
     Big Village Group Inc.                  23-10176
     Big Village Insights, Inc.              23-10178
     Big Village Media LLC                   23-10179
     EMX Digital, Inc.                       23-10180
     Big Village USA Corporation, Inc.       23-10181
     Big Village Agency, LLC                 23-10182
     Balihoo, Inc.                           23-10183
     Deep Focus, Inc.                        23-10184
     Trailer Park Holdings Inc.              23-10185

Judge: Hon. Craig T. Goldblatt

Debtors' Counsel:       Michael R. Nestor, Esq.
                        Joseph M. Barry, Esq.
                        Matthew B. Lunn, Esq.
                        Joseph M. Mulvihill, Esq.
                        YOUNG CONAWAY STARGATT & TAYLOR, LLP
                        1000 North King Street
                        Rodney Square
                        Wilmington, Delaware 19801
                        Tel: (302) 571-6600
                        Fax: (302) 571-1253
                        Email: mnestor@ycst.com
                               jbarry@ycst.com
                               mlunn@ycst.com
                               jmulvihill@ycst.com

Debtors'
Claims &
Noticing Agent
and Administrative
Advisor:                KROLL RESTRUCTURING ADMINISTRATION, LLC

Debtors'
Restructuring
Advisor:                PORTAGE POINT PARTNERS, LLC
                        300 North LaSalle Street
                        Suite 1420
                        Chicago, IL 60654
                        https://portagepointpartners.com/
                        Tel: 312.781.7520

Debtors'
Investment
Banker:                 STEPHENS, INC.

Estimated Assets
(on a consolidated basis): $10 million to $50 million

Estimated Liabilities
(on a consolidated basis): $50 million to $100 million

The petitions were signed by Kasha Cacy as global chief executive
efficer and authorized person.

A full-text copy of Big Village Holding LLC's petition is available
for free at PacerMonitor.com at:

https://www.pacermonitor.com/view/7OX4SCA/Big_Village_Holding_LLC__debke-23-10174__0001.0.pdf?mcid=tGE4TAMA

List of Debtors' 30 Largest Unsecured Creditors:

   Entity                           Nature of Claim   Claim Amount

1. CPX Interactive, LLC               Litigation        $6,596,402
Mike Fleischman - CFO
1441 Broadway
18th Floor
New York, NY 10018
Phone: 646-863-8309
Email: mfleischman@cpxi.com

2. Pluto Inc.                           Trade           $4,475,522
AR team
705 N. San Vivente Blvd
Ste 900E
West Hollywood, CA 90069
Phone: 213-284-0873
Email: invoices@pluto.tv

3. Columbia REIT                     Lease/Rent         $2,810,481
Maria Blake, Elizabeth M. Brown
229 West 43rd Street
Lower Level 3
New York, NY 10036
Phone: 212-659-8467
Email: maria.blake@columbia.reit;
       ebrown@rosenbergestis.com

4. Yahoo Ad Tech LLC                   Trade            $2,782,198
Collection Department
13031 W Jefferson Blvd.
Building 900
Los Angeles, CA 90066
Phone: 800-305-7664
Email: Collections@yahooinc.om

5. Google Inc-Adwords                   Trade           
$1,681,266
Collection Department
Dept. 33654
P.O. Box 39000
San Francisco, CA 94139
Phone: 650-253-0000
Email: collections-us@google.com

6. Proper Media, LLC                   Trade            $1,175,949
Deamie Felder
4150 Mission Blvd
Suite 220
San Diego, CA 92109-5002
Phone: 484-324-2400
Email: thestaff@tvtropes.org

7. Samsung Electronics America, I      Trade            $1,146,692
Customer Service
8482 Collection Center Drive
Chicago, IL 60693-0084
Phone: 408-826-7792
Email: ads-invoices@samsung.com;
a.besaw@samsung.com

8. New Performance                  Professional          $977,586
Improvement Pa                     Services/Fees
Phalgun Yanamandra
One Enterprise Drive
Suite 430
Shelton, CT 06484
Phone: 704-290-4871
Email: pipinvoices@pipartners.com;
pyanamandra@pipartners.com

9. AppMonet                            Trade              $900,249
Invoices
199 Lafayette Street
Suite 3B
New York, NY 10012
Phone: 619-508-0262
Email: accounting@appmonet.com;
bryan.halper@appmonet.com

10. Amazon Web Services, Inc.          Trade              $891,620
Customer Service
410 Terry Avenue N
Seattle, WA 98109
Phone: 206-266-1000
Email: acmd-aws-ar@amazon.com

11. Xandr Inc. (AppNexus)              Trade              $829,720
AR team
28 West 23rd Street
4th Floor
New York, NY 10010
Phone: 646-825-6460
Email: billing@appnexus.com

12. Taboola.com Ltd                    Trade              $748,018
Omry Polakiewicz
2 Jabotinsky Street
Ramat Gan 5250501
Israel
Phone: 972-3-696-6966
Email: AR-IL@taboola.com;
omry.p@taboola.com

13. Hulu, LLC                          Trade              $737,094
HULU AR
2500 Broadway
2nd Floor
Santa Monica, CA 90404
Phone: 310-571-4700
Email: Hulu.Ar@Disney.com

14. Google Inc.                        Trade              $635,974
Collection Department
Dept 33654
P O BOX 33654
San Francisco, CA 941396
Phone: 650-253-0000
Email: collections-us@google.com

15. CBS Interactive Inc.               Trade              $602,079
Tekara Averett
24670 Network Place
Chicago, IL 60673-1246
Phone: 502-992-8032
Email: tekara.averett@cbsinteractive.com

16. Ugam Solutions Pvt. Ltd-WIRE       Trade             
$577,877
Rashmi Dave
2030 Vallejo Street
Suite 304
San Francisco, CA 94123
Phone: 91 22 6742 8300 ext 1582
Email: accounts.receivable@ugamsolutions.com

17. Ironsource Neon Ltd (TypeA Hol     Trade              $563,000
Efrat Levin
Azrieli Sarona Tower
Derech Menachem Begin 121
Tel Aviv 6701318
Israel
Phone: (+972) 052-4506856
Email: efrat.levin@typea.group

18. Consumable                         Trade              $514,984
Mark Levin - CEO
9710 Traville Gateway Drive
Suite 267
Rockville, MD 20850
Phone: 301-251-2363
Email: mark@giftconect.com

19. Gannett Co., Inc                   Trade              $441,490
Jaime Wagner
7950 Jones Branch Dr
McLean, VA 22107
Phone: 877-736-7884
Email: cashservices@usatoday.com;
jwagner2@gannett.com

20. Massandra Harbor                 Lease/Rent           $436,954
Hollywood Own
Marcela Granera
200 Pine Avenue
Suite 502
Long Beach, CA 90802
Phone: 323-540-5108
Email: mgranera@tiarna.com

21. MediaVine, Inc.                    Trade              $435,864
Eric Hochberger, Author
160 W. Camino Real
#504
Boca Raton, FL 33432
Phone: 888-705-1246
Email: eric@mediavine.com

22. Philo Inc                          Trade              $430,001
Legal Department
225 Green St
San Francisco, CA 94111
Phone: 914-523-1480
Email: adbill@philo.com

23. Vidazoo Ltd                        Trade              $394,773
Elad Friedman
114 Yigal Alon Street
Tel Aviv 6744320
Israel
Phone: (+972) 544-998253
Email: finance@vidazoo.com;
efriedman@vidazoo.com

24. Content IQ LLC (Boredom Therap     Trade              $383,784
Morgan Wagman
One World Trade Center
77th Floor Suite A
New York, NY 10007
Phone: 212-685-8000
Email: accountreceivable@contentiq.com

25. National Opinion Research Cent     Trade              $376,759
Tamara Newell
55 East Monroe Street
20th Floor
Chicago, IL 60603
Phone: 312-759-4001
Email: Newell-Tamara@norc.org

26. Vizio Services, LLC                Trade              $375,000
Sunny Bang
39 Tesla
Irvine, CA 92618
Phone: 949-777-0744
Email: VIZIO.Accounting@vizio.com

27. GumGum, Inc.                       Trade              $362,372
Kara Petrocelli
1314 7th Street
4th Floor
Santa Monica, CA 90401
Phone: 310-260-9666
Email: accounting@gumgum.com

28. K&L Gates LLP                   Professional          $351,719
Legal Department                   Services/Fees
599 Lexington Avenue
New York, NY 10022-6030
Phone: 212-536-3900
Email: AccountsReceivableSEA@klgates.com

29. NBC Universal Media LLC CFS        Trade              $350,000
Judy Swain - Director Digital Media Finance
30 Rockefeller Plaza
New York, NY 10112
Phone: 212-664-5548
Email: Judy.Swain@nbcuni.com

30. Roku, Inc.                         Trade              $348,527
Customer Service
Dept 3118
PO Box 123118
Dallas, TX 75312-3118
Phone: 408-556-9040
Email: dlaccountsreceivable@roku.com


BIG VILLAGE: Seeks Cash Collateral Access
-----------------------------------------
Big Village Holding LLC and its debtor-affiliates ask the U.S.
Bankruptcy Court for the District of Delaware for authority to use
cash collateral and provide adequate protection.

The Debtor requires the use of cash collateral to preserve and
maximize the value of their assets.

The Debtors' current secured credit facilities were originally
established in 2017. However, they were substantially amended and
restated in 2020 as part of the Debtors' efforts to combat the
effects on their operations and revenue streams from the  COVID-19
pandemic.

On November 17, 2020, Debtor Big Village Group, Inc., EMX Digital,
Inc., Big Village Insights, Inc., Big Village Group Holdings, LLC,
and certain subsidiaries party thereto as borrowers, the
prepetition lenders, and BNP Paribas as administrative agent
entered into the Amended and Restated Credit and Guaranty
Agreement, dated as of November 17, 2020.

The Prepetition Credit Agreement provided for a restructuring of
the Debtors' secured debt obligations by, among other things, (a)
amending and restating the First Lien Credit and Guaranty
Agreement, dated as of September 15, 2017, and (b) terminating that
certain Second Lien Credit and Guaranty Agreement, dated as of
September 15, 2017.

As of the Petition Date, the Prepetition Borrowers were indebted to
the Prepetition Secured Parties under the Prepetition Financing
Documents, for (a) an aggregate principal amount of $49.3 million
of 2020 Term Loans, and (b) accrued and unpaid interest, fees and
costs, expenses, charges, indemnities, and all other Obligations
incurred or accrued with respect to the foregoing pursuant to, and
in accordance with, the Prepetition Credit Agreement.

The Debtors and the Prepetition Secured Parties have reached an
agreement on the consensual use of Cash Collateral and Prepetition
Collateral to fund expenses identified in the budget.

As adequate protection for the Prepetition Secured Parties for the
Prepetition Secured Liens, the Agent, will be granted additional
and replacement valid, binding, enforceable, non-avoidable, and
perfected postpetition security interests and liens upon all
present and after-acquired property and assets of the Debtors and
their estates.

The Prepetition Secured Parties and the Agent, for the benefit of
the Prepetition Secured Parties, will be granted an allowed
administrative expense claim with super-priority over all other
administrative expenses and all other claims against the Debtors or
their estates or any kind or nature whatsoever, but in all cases
subject and subordinate to the Carve-Out and the Permitted Prior
Liens.

The Carve-Out means fees and expenses of any statutory committee of
unsecured creditors, appointed pursuant to section 1103 of the
Bankruptcy Code, and the Retained Professionals, including
professionals retained by the Committee that have been approved by
the Court, which upon the Carve-Out Trigger Date, is subject to a
cap of $750,000.

A copy of the motion is available at https://bit.ly/3Xh60Fd from
PacerMonitor.com.

                   About Big Village Holding LLC

Big Village Holding LLC and its affiliates are a global
advertising, technology, and data company with operations in the
United States, European Union, and Australia.  They deliver their
advertising and digital content across multiple media channels and
online platforms, and facilitate the implementation of targeted,
data-driven advertising strategies which encompass all of the
technology and intelligence necessary to execute global
advertising
campaigns.

Big Village Holding LLC and its affiliates sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case
No. 23-10174) on February 8, 2023. In the petition signed by Kasha
Cacy, global chief executive officer, the Debtors disclosed up to
$50 million in assets and up to $100 million in liabilities.

Judge Craig T. Goldblatt oversees the case.

The Debtors tapped Young Conaway Stargatt and Taylor, LLP as legal
counsel, Kroll Restructuring Administration, LLC as claims and
noticing agent and administrative advisor, Portage Point Partners,
LLC as restructuring advisor, and Stephens, Inc. as investment
banker.

BNP Paribas, as administrative agent under the Debtors' prepetition
credit agreement, is represented by Mayer Brown LLP's Brian Trust
and Scott Zemser; and Potter Anderson & Corroon LLP's L. Katherine
Good.


DECORE PTY: First Creditors' Meeting Set for Feb. 20
----------------------------------------------------
A first meeting of the creditors in the proceedings of Decore Pty
Ltd, trading as Decore Tiling, will be held on Feb. 20, 2023, at
3:00 p.m. at Level 12, 20 Bridge Street in Sydney and via virtual
technology.

Grahame Ward and Edwin Narayan of Mackay Goodwin were appointed as
administrators of the company on Feb. 8, 2023.


DRUMMOYNE GI: First Creditors' Meeting Set for Feb. 20
------------------------------------------------------
A first meeting of the creditors in the proceedings of Drummoyne GI
Pizza Pty Ltd will be held on Feb. 20, 2023, at 11:00 a.m. via
virtual meeting only.

Bruce Gleeson of Jones Partners Insolvency & Restructuring was
appointed as administrator of the company on Feb. 8, 2023.


LIBERTY FUNDING 2023-1: Moody's Gives (P)B2 Rating to Cl. F Notes
-----------------------------------------------------------------
Moody's Investors Service has assigned the following provisional
ratings to the notes to be issued by Liberty Funding Pty Ltd in
respect of Liberty Series 2023-1.

Issuer: Liberty Funding Pty Ltd in respect of Liberty Series
2023-1

AUD150.0 million Class A1a Notes, Assigned (P)Aaa (sf)

AUD300.0 million Class A1b Notes, Assigned (P)Aaa (sf)

AUD95.4 million Class A2 Notes, Assigned (P)Aaa (sf)

AUD21.0 million Class B Notes, Assigned (P)Aa2 (sf)

AUD7.8 million Class C Notes, Assigned (P)A2 (sf)

AUD9.0 million Class D Notes, Assigned (P)Baa2 (sf)

AUD4.8 million Class E Notes, Assigned (P)Ba2 (sf)

AUD4.2 million Class F Notes, Assigned (P)B2 (sf)

The AUD7.8 million Class G Notes are not rated by Moody's.

The transaction is a securitisation of Australian residential
mortgages loans originated and serviced by Liberty Financial Pty
Ltd (Liberty, unrated).

RATINGS RATIONALE

The provisional ratings take into account, among other factors:

Evaluation of the underlying receivables and their expected
performance;

Evaluation of the capital structure and credit enhancement
provided to the notes;

The liquidity facility in the amount of 2.0% of the notes balance
subject to a floor of AUD600,000;

The experience of Liberty as the servicer;

Presence of Perpetual Trustee Company Limited as the back-up
servicer.

Moody's MILAN credit enhancement (MILAN CE) for the collateral pool
is 9.1%, while the expected loss is 1.20%.

MILAN CE represents the loss Moody's expect the portfolio to suffer
in a severe recessionary scenario, and does not take into account
structural features of the transaction. The expected loss
represents a stressed, through-the-cycle loss relative to
Australian historical data.

A key strength of the transaction is the 25% subordination
available to Class A1a and Class A1b Notes. Moody's considers the
relatively high proportion (17%) of loans with scheduled LTV above
80% a credit challenge.

The key transactional features are as follows:

The notes benefit from a guarantee fee reserve available to cover
losses arising from the portfolio and shortfalls in interest
payments on the notes. Unfunded at closing, the reserve will build
up through the trapping of excess spread up to a maximum of
AUD1,800,000, equivalent to 0.30% of the initial invested amount of
the notes.

The notes will be initially repaid sequentially. On and after the
payment date in February 2025, all notes, excluding Class G Notes,
will receive a pro-rata share of principal payments, subject to
certain step down conditions being met. These include, among
others, Class A1a Notes being repaid and no unreimbursed
charge-offs on any notes. The principal paydown will switch back to
sequential pay once the aggregate invested amount of all notes is
less than or equal to 20.0% of the aggregate initial invested
amount of all notes on the issue date, or following the payment
date in February 2027.

The key features of the pool as at the cut-off date are as
follows:

The portfolio has a weighted-average seasoning of 10.5 months.

The portfolio has a scheduled LTV ratio of 68.1%, with a
relatively high proportion of loans with a scheduled LTV ratio
above 80.0% (17.0%) and above 90% (6.6%).

Around 46.8% of the loans in the portfolio were extended to
self-employed borrowers.

Based on Moody's classifications, 24.8% of the loans in the
portfolio were extended on an alternative documentation basis with
further 0.2% on low documentation basis.

Methodology Underlying the Rating Action:

The principal methodology used in these ratings was "Moody's
Approach to Rating RMBS Using the MILAN Framework" published in
July 2022.

Factors that would lead to an upgrade or downgrade of the ratings:

Levels of credit protection that are greater than necessary to
protect investors against current expectations of loss could lead
to an upgrade of the ratings. Moody's current expectations of loss
could be better than its original expectations because of fewer
defaults by underlying obligors or higher recoveries on defaulted
loans. The Australian job market and the housing market are primary
drivers of performance.

A factor that could lead to a downgrade of the notes is
worse-than-expected collateral performance. Other reasons for
performance worse than Moody's expects include poor servicing,
error on the part of transaction parties, a deterioration in credit
quality of transaction counterparties, fraud and lack of
transactional governance.

MECRUS PTY: Second Creditors' Meeting Set for Feb. 21
-----------------------------------------------------
A second meeting of creditors in the proceedings of Mecrus Pty.
Ltd. has been set for Feb. 21, 2023 at 10:30 a.m. at the offices of
Rodgers Reidy or via Microsoft Teams video teleconferencing.

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 Feb. 20, 2023 at 4:00 p.m.

Shane Justin Cremin of Rodgers Reidy was appointed as administrator
of the company on Jan. 21, 2023.


MOORABOOL VALLEY: First Creditors' Meetings Set for Feb. 20
-----------------------------------------------------------
A first meeting of the creditors in the proceedings of Moorabool
Valley Eggs Pty Ltd and Egg Marketing Australia Pty Ltd will be
held on Feb. 20, 2023, at 2:00 p.m. and 3:00 p.m. respectively, at
the offices of Cor Cordis at Level 29, 360 Collins Street in
Melbourne or via online video conference.

Daniel Peter Juratowitch and Bruno Secatore of Cor Cordis were
appointed as administrators of the company on Feb. 8, 2023.


PHANTOM KITCHENS: First Creditors' Meeting Set for Feb. 20
----------------------------------------------------------
A first meeting of the creditors in the proceedings of Phantom
Kitchens Pty Ltd will be held on Feb. 20, 2023, at 11:30 a.m. at
the offices of Kennedy Ryan Advisory at Level 40, 140 William
Street in Melbourne.

Richard Rohrt of Kennedy Ryan Advisory was appointed as
administrator of the company on Feb. 8, 2023.




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

CHINA VANKE: Seeks US$2.2 Billion From Private Shares Sale
----------------------------------------------------------
South China Morning Post reports that China Vanke intends to raise
up to CNY15 billion (US$2.2 billion) by issuing 1.1 billion shares
to specific investors in the Shenzhen stock market to replenish its
liquidity and fund real estate projects.

The proposal is still pending clearance by shareholders and China's
securities regulator, the report says. The shares are intended for
35 specific investors including securities companies, institutional
insurance investors, and foreign institutional investors, the
developer said in a notice to the Hong Kong stock exchange on Feb.
12.

According to the Post, the property giant, like many of its peers,
has been hit hard by a slump in home sales and Beijing's clampdown
on excessive debt which made borrowing harder for developers. Early
last year Vanke's chairman, Yu Liang, told staff they faced a
battle to survive and declared "We are on our last legs", according
to an internal document seen by the Post.

The Post relates that the announcement came after Vanke obtained
quotas for three onshore medium-term notes totalling CNY33.7
billion on February 2. It plans to issue an initial quantity of
CNY9 billion of onshore bonds and use the proceeds to repay debt
and fund property projects.

Vanke said in the notice that the proposal to issue shares
non-publicly "may increase the ownership interest of the group,
further optimise the capital structure, improve the profitability
and risk resistance of the group, and enhance its core
competitiveness and sustainability," the Post relays.

It described its current gearing ratio - a measure of debt as a
proportion of equity - as "relatively high."

The figure has stood above 77 per cent for the last four years,
peaking at 84.36 per cent in 2019. A gearing ratio of between 60
and 70 per cent is generally considered healthy.

In the first nine months of 2022, its debt amounted to CNY1.43
trillion with a gearing ratio of 77.85 per cent. Its
interest-bearing liabilities came to CNY294 billion, of which 78.7
per cent was long-term liabilities, the Post discloses.

This time, Vanke plans to spend CNY4.5 billion, almost a third of
the proceeds, to replenish its liquidity.

The rest will be used to fund 11 projects already underway in
second-tier cities such as Zhongshan and Guangzhou in southern
Guangdong province, Chongqing and Chengdu in southwestern Sichuan
province, and provincial capitals like Xian and Changchun, the
report notes. Two residential projects in Zhengzhou and Anshan will
receive CNY1.3 billion each.

The Post adds that Vanke said the new funds will help deliver these
projects on time, in the face of high land prices and construction
costs that are crimping its cash flow.

The developer's cash position is at stake. Its net cash from
operating activities fell into negative territory for the first
time in three years in 2022, according to its third quarterly
report for that year, the Post relays.

Its sales plunged in the first nine months of last year, falling in
value by 20 per cent to CNY99.38 billion year on year and by 14.4
per cent in area to 6.47 million square metres, the Post notes.

China Vanke Co., Ltd. operates real estate development businesses.
The Company provides housing renovation, housing loans, real estate
brokerage, and other businesses. China Vanke also operates
logistics, material supply, and other businesses.


RADIANCE HOLDINGS: Moody's Downgrades CFR to B3, Outlook Negative
-----------------------------------------------------------------
Moody's Investors Service has downgraded Radiance Holdings (Group)
Co. Ltd.'s corporate family rating to B3 from B2 and the company's
senior unsecured rating to Caa1 from B3.

The outlook remains negative.

"The downgrade reflects Radiance's worsening liquidity due to its
weak sales and sizable debt maturities over the next 12-18 months,"
says Alfred Hui, a Moody's Analyst.

"The negative outlook reflects uncertainty over the company's
ability to generate sufficient operating cash flow to support its
operations and address sizable debt obligations amid a challenging
operating environment," adds Hui.

RATINGS RATIONALE

Moody's expects Radiance's contracted sales to fall to around RMB35
billion in 2023. The company's high exposure to second- and
third-tier cities, where economic fundamentals and housing demand
are weaker than those in major cities, would limit the benefit of
government policies to support property sales. Declining contracted
sales will in turn strain the company's operating cash flow and
liquidity. In the first 9 months of 2022, Radiance's contracted
sales declined by 52% year-on-year to RMB35.4 billion, with
contracted sales average selling price also falling 12%
year-on-year to RMB14,914 per square meter.

Moody's assessed Radiance's liquidity will be inadequate over the
next 12-18 months, if the company is unable to raise new external
funding to meet its operating and refinancing needs.

Radiance has sizable debt maturities over the next 12-18 months,
including a USD300 million offshore bond due in March 2024.
Although the company issued an RMB1.2 billion onshore bond with a
guarantee by China Bond Insurance Co., Ltd. in late 2021, the
amount is relatively small compared to its debt maturities over the
next 12-18 months.

Radiance's reported gross margin will likely contract to around 14%
in 2023, from 17.7% in the first half (H1) of 2022 and 19.4% in
2021, as Moody's expects the company to keep prices low to support
contracted sales and cash collection.

Moody's also expects Radiance's financial metrics to deteriorate as
a result of its weakened operations. The company's debt leverage,
as measured by debt/EBITDA, will weaken to around 10x in 2023, from
an estimated 7.0x in 2022. Similarly, its interest-servicing
ability, as measured by EBIT interest coverage, will worsen to 1.4x
from 1.8x over the same period.

Radiance's Caa1 senior unsecured debt rating is one notch lower
than the company's CFR due to structural subordination risk. This
risk reflects the fact that the majority of claims are at the
operating subsidiaries and have priority over Radiance's senior
unsecured claims in a bankruptcy scenario. In addition, the holding
company lacks significant mitigating factors for structural
subordination. As a result, the expected recovery rate for claims
at the holding company will be lower.

In terms of environmental, social and governance (ESG) factors,
Moody's has considered the company's weak financial position and
limited flexibility in managing its liquidity position. Moody's has
also considered Radiance's concentrated ownership, given that its
key shareholder, Mr. Lam, and his spouse ultimately held an 84.05%
stake in the company as of the end of 2021.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

An upgrade is unlikely, given the negative outlook.

However, Moody's could revise the outlook to stable if Radiance
improves its liquidity and access to funding, and strengthens its
sales, profitability and credit metrics, with EBIT/interest
coverage above 1.5x on a sustained basis.

On the other hand, Moody's could downgrade Radiance's ratings if
the company's access to funding and liquidity deteriorate further,
and in turn, increase its refinancing risks.

The principal methodology used in these ratings was Homebuilding
and Property Development published in October 2022.

Established in 1996, Radiance Holdings (Group) Co. Ltd. is a
Chinese property developer with more than 25 years of experience in
property development. As of June 30, 2022, it had a total land bank
of 29.6 million square meters with coverage of different regions in
China.

TD HOLDINGS: Chaoliang Yang Has 7.5% Equity Stake as of Jan. 30
---------------------------------------------------------------
In a Schedule 13D filed with the Securities and Exchange
Commission, Chaoliang Yang disclosed that as of Jan. 30, 2023, he
beneficially owns 10,750,000 shares of common stock of TD Holdings,
Inc., representing 7.5% of the shares outstanding.  The percentage
was calculated on the basis of the sum of (i) 107,911,081 shares of
common stock of the Issuer issued and outstanding as of Jan. 24,
2023, and (ii) 35,000,000 shares of common stock to be issued
pursuant to the Securities Purchase Agreement.

On Jan. 9, 2023, the Reporting Person entered into that certain
securities purchase agreement with the Issuer.  Pursuant to the
Securities Purchase Agreement, Mr. Yang acquired 5,000,000 shares
of common stock, par value $0.001 per share, of the Issuer at a
purchase price of US$1.21 per share on Jan. 30, 2023.  Prior to
such purchase, the Reporting Person purchased a total of 5,750,000
shares of Common Stock of the Issuer through private placement
transactions.  As of Feb. 3, 2023 (the date of this report), the
Reporting Person holds a total of 10,750,000 shares of Common Stock
of the Issuer.

The Reporting Person used his own cash on hand for the purchase of
all of the shares.

A full-text copy of the regulatory filing is available for free
at:

https://www.sec.gov/Archives/edgar/data/1556266/000121390023007973/ea172447-13dyang_tdhold.htm

                         About TD Holdings

Headquartered in Shenzhen, Guangdong, PRC, TD Holdings, Inc. --
visit http://ir.tdglg.com--is a service provider currently
engaging in commodity trading business and supply chain service
business in China.  Its commodities trading business primarily
involves purchasing non-ferrous metal product from upstream metal
and mineral suppliers and then selling to downstream customers. Its
supply chain service business primarily has served as a
one-stop commodity supply chain service and digital intelligence
supply chain platform integrating upstream and downstream
enterprises, warehouses, logistics, information, and futures
trading.

TD Holdings reported a net loss of $940,357 for the year ended Dec.
31, 2021, a net loss of $5.95 million for the year ended Dec. 31,
2020, and a net loss of $6.94 million for the year ended Dec. 31,
2019.  As of Sept. 30, 2022, the Company had $260.98 million in
total assets, $26.51 million in total liabilities, and $234.47
million in total equity.


TD HOLDINGS: Katie Ou Has 8% Equity Stake as of Jan. 30
-------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Katie Ou disclosed that as of Jan. 30, 2023, she
beneficially owns 11,442,996 shares of common stock of TD Holdings,
Inc., representing 8 percent of the shares outstanding.  The
percentage is calculated on the basis of the sum of (i) 107,911,081
shares of common stock of the Issuer issued and outstanding as of
Jan. 24, 2023, and (ii) 35,000,000 shares of common stock to be
issued pursuant to the Securities Purchase Agreement.

On Jan. 9, 2023, Ms. Ou entered into that certain securities
purchase agreement with the Issuer.  Pursuant to the Securities
Purchase Agreement, Ms. Ou acquired 9,000,000 shares of common
stock, par value $0.001 per share, of the Issuer at a purchase
price of US$1.21 per share on Jan. 30, 2023.  Prior to such
purchase, the Reporting Person purchased a total of 2,442,996
shares of Common Stock of the Issuer through private placement
transactions.  As of Feb. 3, 2023 (the date of this report), the
Reporting Person holds a total of 11,442,996 shares of Common Stock
of the Issuer.

The Reporting Person used her own cash on hand for the purchase of
all of the shares.

A full-text copy of the regulatory filing is available for free
at:

https://www.sec.gov/Archives/edgar/data/1556266/000121390023007976/ea172448-13da2ou_tdhold.htm


                         About TD Holdings

Headquartered in Shenzhen, Guangdong, PRC, TD Holdings, Inc. --
visit http://ir.tdglg.com--is a service provider currently
engaging in commodity trading business and supply chain service
business in China.  Its commodities trading business primarily
involves purchasing non-ferrous metal product from upstream metal
and mineral suppliers and then selling to downstream customers. Its
supply chain service business primarily has served as a
one-stop commodity supply chain service and digital intelligence
supply chain platform integrating upstream and downstream
enterprises, warehouses, logistics, information, and futures
trading.

TD Holdings reported a net loss of $940,357 for the year ended Dec.
31, 2021, a net loss of $5.95 million for the year ended Dec. 31,
2020, and a net loss of $6.94 million for the year ended Dec. 31,
2019.  As of Sept. 30, 2022, the Company had $260.98 million in
total assets, $26.51 million in total liabilities, and $234.47
million in total equity.


YUNDA HOLDING: Denies Bankruptcy, Outlet Closures Rumor
-------------------------------------------------------
Yicai Global reports that Yunda Holding has refuted online rumors
claiming it closed over 2,000 outlets in China in the first half of
last year and will go bankrupt.

Yunda opened 100 new outlets in first-tier cities in the past year,
with the number of package delivery and collection terminals
increasing by over 10,000 in the period, the Shanghai-based company
said in a statement on Weibo on Feb. 13, citing the latest
statistics, Yicai Global relays.

According to the report, many people also said online that the
courier's deliveries have been abnormal since last month, and the
situation has worsened after the Spring Festival holiday. Some
claimed that their parcels are late or lost, with others being
unable to track their order.

Outlets have more parcels to deliver after the Spring Festival and
some deliverymen have not yet returned from the holiday, causing
delays in some areas, Yunda noted, adding that it has taken actions
to complete the deliveries soon, Yicai Global relates.




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

ADANI GREEN: Moody's Affirms 'Ba3' Rating & Alters Outlook to Neg.
------------------------------------------------------------------
Moody's Investors Service has affirmed the ratings on eight Adani
Group companies.

At the same time, Moody's has changed the outlook on four issuers
to negative from stable, while maintaining the stable outlook on
other four companies.

The eight companies affected are:

1. Adani Green Energy Limited (AGEL) - Ba3 ratings affirmed;
outlook changed to negative from stable

2. Adani Green Energy Restricted Group (AGEL RG-1) comprising Adani
Green Energy (UP) Limited; Parampujya Solar Energy Private Limited;
Prayatna Developers Private Limited - Ba2 ratings affirmed; outlook
changed to negative from stable

3. Adani Transmission Step-One Limited (ATSOL) - Baa3 ratings
affirmed; outlook changed to negative from stable

4. Adani Electricity Mumbai Limited (AEML) - Baa3 ratings affirmed;
outlook changed to negative from stable

5. Adani Ports and Special Economic Zone Limited (APSEZ) - Baa3
ratings affirmed; outlook remains stable

6. Adani International Container Terminal Private Ltd (AICTPL) -
Baa3 ratings affirmed; outlook remains stable

7. Adani Green Energy Restricted Group (AGEL RG-2) comprising
Wardha Solar (Maharashtra) Private Limited, Kodangal Solar Parks
Private Limited and Adani Renewable Energy (Rj) Limited - Ba1
ratings affirmed; outlook remains stable

8. Adani Transmission Restricted Group 1 (ATL RG1) comprising
Barmer Power Transmission Service Limited;
Raipur-Rajnandgaon-Warora Transmission Ltd; Sipat Transmission
Limited; Thar Power Transmission Service Limited; Hadoti Power
Transmission Service Limited; Chhattisgarh-WR Transmission Limited
- Baa3 ratings affirmed; outlook remains stable

These rating actions follow the significant and rapid decline in
the market equity values of the Adani Group companies following the
recent release of a report from a short-seller highlighting
governance concerns in the Group.

A List of Affected Credit Ratings is available at
https://bit.ly/3IlHxdS

RATINGS RATIONALE

AFFIRMATION OF RATINGS AND CHANGE IN OUTLOOK TO NEGATIVE FROM
STABLE FOR AGEL, AGEL RG-1, ATSOL and AEML

The affirmation of AGEL's senior secured bond rating reflects its
predictable cash flow backed by long-term power purchase agreements
(PPAs), its large and diversified portfolio of solar and wind
generation projects, and its very high financial leverage.

The change in the outlook to negative on AGEL considers the
company's large capital spending program and dependence on sponsor
support, potentially in the form of subordinated debt or
shareholder loans, which will likely be less certain in the current
environment. The negative outlook also factors in the company's
significant refinancing needs of around $2.7 billion in fiscal year
ending March 2025 (fiscal 2025) and limited headroom in its credit
metrics to manage any material increase in funding costs.

The affirmation of AGEL RG-1's senior secured bond rating considers
its predictable revenues from a diversified set of projects in
India, operating under long-term PPAs with fixed tariffs. The AGEL
RG-1's underlying credit quality also reflects the uneven past
performance of the restricted subsidiaries' projects, and its high
financial leverage.

The change in the outlook on AGEL RG-1 to negative factors in the
refinancing risk associated with $500 million of bonds maturing in
December 2024. Moody's recognizes that the project finance
structure of AGEL RG-1 provides protection from any contagion risk
from the broader Adani Group.

The affirmation of ATSOL's senior secured bond ratings reflects the
company's close credit linkage with its wholly-owned parent, Adani
Transmission Limited (ATL), owing to the parental guarantee
provided by ATL over the rated bonds and the event of default
provisions linked to ATL's solvency. ATL's credit profile, in turn,
reflects the predictable revenue from its diversified portfolio of
quality regulated or contracted transmission and distribution
assets, as well as the group's aggressive growth strategy and the
incremental debt required to fund its capital spending.

The change in the outlook on ATSOL to negative considers the modest
headroom in ATL's credit metrics relative to the minimum tolerance
level under Moody's base case scenario, which limits the group's
ability to withstand a material increase in funding cost or reduced
funding access.

The affirmation of AEML's senior secured bond ratings reflects the
predictable revenue from its integrated utility business in Mumbai,
all of which are regulated. At the same time, the rating
affirmation considers AEML's elevated financial leverage partly due
to its large capital spending in recent years. The change in
outlook to negative reflects the likely reduction in its funding
access and reduced ability to manage any material increase in
funding costs given the limited headroom in its credit metrics
under Moody's base case scenario.

AFFIRMATION OF RATINGS AND STABLE OUTLOOK MAINTAINED FOR APSEZ,
AICTPL, AGEL RG-2 and ATL RG1

The affirmation of APSEZ's issuer ratings considers the company's
strong market position as the largest port developer and operator
in India by cargo volume and its strong liquidity and financial
profile. The stable outlook on the ratings reflects Moody's
expectation that APSEZ would continue to generate relatively steady
cash flow over the next 12-18 months and would be able to realign
its capital spending plans in the event of a liquidity squeeze.

The affirmation of AITCPL's senior secured bond ratings considers
the company's strategic location and access to a large catchment
area that generates strong origin-destination cargo demand. It also
reflects the fully amortizing fixed-cost debt structure that helps
to improve the company's credit profile, its strong operating
history and strong and committed shareholders. The stable outlook
on the ratings reflects the project finance features of the senior
secured bonds including restrictions on debt incurrence and
distributions, and the reserving of cash which supports debt
servicing, which provide a ring fence from any contagion risk from
the broader Adani Group.

The affirmation of AGEL RG-2's ratings considers the group's
predictable revenues from a diversified set of projects in India,
operating under long-term PPAs with fixed tariffs, and the group's
dependence on sovereign-owned entities, such as Solar Energy
Corporation of India, for more than 70% of the offtake from its
power projects. The stable outlook on the ratings reflects the
project finance features of the senior secured bonds including
restrictions on debt incurrence and distributions, the absence of
growth capital spending requirement, the reserving of cash which
supports debt servicing, which provide a ring fence from any
contagion risk from the broader Adani Group.

The affirmation of ATL RG1's ratings factors in the group's
predictable revenues from a portfolio of transmission projects in
India, operating under long-term transmission service agreements
with fixed tariffs, the essential nature of the transmission grid
as part of India's decarbonization plans, and the group's moderate
financial leverage. The stable outlook reflects ATL RG1's full
amortization structure and absence of growth capital spending
requirements, which minimize the need for additional funding from
its shareholders or the capital markets. It further recognizes the
ring-fencing in place to reduce potential contagion risk from the
Adani Group.

The stable outlook on APSEZ, AICTPL, AGEL RG-2 and ATL RG1 further
assumes that there will be no material adverse effect from any
potential regulatory or legal investigations or increase in related
party transactions to provide funding support to other group
entities.

A List of Affected Credit Ratings is available at
https://bit.ly/3lv9ozb

Principal Methodologies and Models Used

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

AGEL, AGEL RG-1, ATSOL and AEML

Given the negative outlook on AGEL, AGEL RG-1, ATSOL and AEML, an
upgrade of the ratings is unlikely in the near term.

However, Moody's could change the rating outlook to stable, if the
entities can demonstrate their access to the capital markets to
meet their growth funding and refinancing requirements; and if
their management can effectively implement timely and effective
countermeasures to preserve the companies' credit metrics including
a reduction in capital spending or financial leverage with support
from the promoter. A revision in the outlook to stable is further
predicated on there being no material increase in related party
transactions to provide funding support to other group entities.
The stable outlook further assumes that there will be no material
adverse effect from any potential regulatory or legal
investigations.

For AGEL, Moody's could downgrade its rating if (1) it becomes
clear that the company is facing challenges in refinancing its
large maturing debt in a timely manner; (2) its credit profile
deteriorates, such that its cash flow from operation pre-working
capital / debt declines below 3%  or  its interest coverage falls
below 1.25x on a sustained basis, potentially because of weaker
operational performance, a delay in the commissioning of new
projects, aggressive acquisitions and capital spending beyond
Moody's expectations; and (3) support from its shareholders, Adani
Group and TotalEnergies SE  (Total, A1 stable), - weakens.

AGEL RG-1's rating could come under downward pressure if it becomes
clear that it is facing challenges in refinancing its maturing debt
in a timely manner; if its funds from operations (FFO)/debt falls
below 5% on a consistent basis; and/or if Moody's assessment of the
credit profile of the off-taker of AGEL RG-1's assets changes.

Moody's could downgrade ATSOL's or AEML's ratings if the companies
face sustained challenges in accessing funding. Moreover, the
ratings could be downgraded if the companies' credit metrics
deteriorate beyond the respective minimum rating tolerance levels,
namely FFO/net debt below 7.5% on a sustained basis for ATL, and
cash flow from operations pre working capital/debt below 9% on a
sustained basis for AEML. Such weakening could stem from
deterioration in the companies' underlying operations, or a
potential increase in related party transactions with ATSOL or AEML
providing funding support to other Adani Group entities.

APSEZ, AICTPL, AGEL RG-2 and ATL RG1

Moody's could upgrade APSEZ's rating if the sovereign rating is
upgraded; the company continues to improve its operating
performance and business mix; and it undertakes permanent leverage
reduction, with its FFO/debt above 22% on a sustained basis.

Conversely, Moody's could downgrade APSEZ's rating if the sovereign
rating is downgraded; or its cargo volumes decline, resulting in
its financial metrics deteriorating beyond the parameters of the
Baa3 rating category. In particular, Moody's would consider
downgrading APSEZ's rating if the company's FFO/debt falls below
14% on a sustained basis and cash interest coverage remains below
2.75x-3.00x. A reinstatement of related-party loans could also
strain the rating.

Moody's could upgrade AICTPL's rating if the sovereign rating is
upgraded, and the company improves its financial profile such that
its average DSCR exceeds 3.0x.

However, Moody's could downgrade AICTPL's senior secured bonds
ratings if India's sovereign rating is downgraded; the company's
average DSCR declines below 1.7x over the next 3-5 years or
FFO/debt falls below 12% on a sustained forward-looking basis; its
ability to retain sufficient cash to meet the last three years'
debt servicing is severely compromised; and/or support from its
shareholders weakens to the extent that it affects its operations.

Moody's could upgrade AGEL RG-2's rating if the sovereign rating is
upgraded and the restricted group's and AGEL's underlying credit
profiles do not significantly deteriorate.

Conversely, Moody's could downgrade AGEL RG-2's bond ratings if the
sovereign rating is downgraded, the company's DSCR deteriorates
toward 1.30x on a sustained basis, and/or Moody's view on the
off-taker credit profile of restricted group assets changes.

An upgrade of ATL RG1's bonds is unlikely in the absence of a
sovereign rating upgrade, because of the restricted subsidiaries'
domestically focused operations.

On the other hand, Moody's will downgrade ATL RG1's rating if the
sovereign rating is downgraded. Furthermore, downward pressure
could develop on the bond ratings if the RG's average DSCR remains
below 1.30x on a consistent basis or there are signs that the
essentiality of the RG's lines as part of the transmission grid has
declined.

ADI K C: CRISIL Assigns B+ Rating to INR4.7cr Cash Loan
-------------------------------------------------------
CRISIL Ratings has assigned its 'CRISIL B+/Stable' ratings to the
long term bank facilities of ADI K C Paul and Sons (ADIKCPS).

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Cash Credit            4.7       CRISIL B+/Stable (Assigned)

   Proposed Long Term
   Bank Loan Facility     1.3       CRISIL B+/Stable (Assigned)


The ratings reflect the presence of the firm in a highly fragmented
industry with limited size and working capital-intensive
operations. These weaknesses are partially offset by the extensive
industry experience of the partners and healthy capital structure.

Key Rating Drivers & Detailed Description

Weakness:

* Presence in a highly fragmented industry with limited size:
Business is susceptible to intense competition in the niche
umbrella segment. The firm faces stiff competition from the large
number of unorganised players in India and also from umbrellas
imported from China, which are priced much lower than those made in
India.

* Modest scale of operations: Business is constrained by the small
scale of operations of the firm in the intensely competitive
housewares and specialties industry.  The modest scale will
continue to limit its operating flexibility.

* Working capital intensive operations: Gross current assets (GCAs)
were sizeable at 398-854 days over the three fiscals ended 2022.
GCAs were 663 days as on March 31, 2022 driven by large debtor and
inventory levels. The firm is required to extend long credit period
to customers. Furthermore, due to business need, it holds large
work-in-process and inventory.

Strengths:

* Extensive industry experience of the partners: The partners'
experience of more than four decades in the housewares and
specialties industry, their understanding of the dynamics of the
market and healthy relationships with suppliers and customers
should support the business.

* Healthy capital structure: Capital structure has been healthy due
to modest reliance on external funds yielding low total outside
liabilities to adjusted tangible networth (TOL/ANW) ratio for the
three years through fiscal 2022.

Liquidity: Stretched

Expected modest cash accrual range of INR0.06- 0.11 crore per year
is just sufficient against term debt obligation of INR0.05 crore
over the medium term. Bank limit utilisation averaged a high 96.19%
over the twelve months through November 2022. Current ratio was
healthy at 2.54 times on March 31, 2022 and cash and bank balance
moderate at INR4.0 crore. Low gearing and moderate networth support
financial flexibility.

Outlook Stable

CRISIL Ratings believes ADIKCPS will benefit from the extensive
experience of its partners and established relationships with
clients.

Rating Sensitivity factors

Upward factors

* Increase in revenue by 30% and sustenance of operating margin,
leading to cash accrual of more than INR0.06 crore.
* Improvement in working capital cycle.

Downward factors

* Fall in profitability or stretch in working capital cycle
* Decline in scale of operations leading to fall in revenue and
profitability margin, hence resulting in lower-than INR0.01 crore
net cash accrual.
* Large debt-funded capital expenditure weakens capital structure
Increase in working capital requirements weakening its liquidity
and financial risk profiles

Established in 2018. ADIKCPS is owned and managed by Mr Debnath
Paul and Mr Anjan Paul. It manufactures umbrellas and also trades
in umbrella, raincoat, walking stick and bag. It is engaged in job
work for raincoats. Its facility is in Kolkata, West Bengal.

ALFARA'A INFRA: CRISIL Keeps D Debt Ratings in Not Cooperating
--------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Alfara'A
Infraprojects Private Limited (AIPL) continue to be 'CRISIL
D/CRISIL D Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Bank Guarantee         40        CRISIL D (Issuer Not
                                    Cooperating)

   Bank Guarantee        106.09     CRISIL D (Issuer Not
                                    Cooperating)

   Bank Guarantee        249        CRISIL D (Issuer Not
                                    Cooperating)

   Cash Credit            41        CRISIL D (Issuer Not
                                    Cooperating)

   Cash Credit            10        CRISIL D (Issuer Not
                                    Cooperating)

   Cash Credit            36.5      CRISIL D (Issuer Not
                                    Cooperating)

   Cash Credit            50.5      CRISIL D (Issuer Not
                                    Cooperating)

   Letter of Credit       75        CRISIL D (Issuer Not
                                    Cooperating)

   Letter of Credit       45        CRISIL D (Issuer Not
                                    Cooperating)

   Letter of Credit       20        CRISIL D (Issuer Not
                                    Cooperating)

   Long Term Loan         30        CRISIL D (Issuer Not
                                    Cooperating)

   Long Term Loan         5         CRISIL D (Issuer Not
                                    Cooperating)

CRISIL Ratings has been consistently following up with AIPL for
obtaining information through letters and emails dated October 21,
2022 and December 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 AIPL, which restricts CRISIL
Ratings' ability to take a forward looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on AIPL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
AIPL continues to be 'CRISIL D/CRISIL D Issuer Not Cooperating'.

AIPL, which was set up in 2011, undertakes civil construction
activities in India.   The Alfara'a group has a long track record
of operations in the civil construction industry in the UAE, having
delivered projects both for private as well as government sectors.


ALIENS DEVELOPERS: CRISIL Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Aliens
Developers Private Limited (ADPL) continue to be 'CRISIL D/CRISIL D
Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Bank Guarantee        0.8        CRISIL D (Issuer Not
                                    Cooperating)

   Cash Credit           6.3        CRISIL D (Issuer Not
                                    Cooperating)

   Proposed Long Term    0.9        CRISIL D (Issuer Not
   Bank Loan Facility               Cooperating)

CRISIL Ratings has been consistently following up with ADPL for
obtaining information through letters and emails dated October 21,
2022 and December 30, 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 ADPL, which restricts CRISIL
Ratings' ability to take a forward looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on ADPL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
ADPL continues to be 'CRISIL D/CRISIL D Issuer Not Cooperating'.

ADPL, incorporated in 2004, is a Hyderabad-based company that
undertakes residential real estate projects across the city and its
adjacent locations. Mr Hari Challa and Mr Venkata Prasanna Challa
are the promoters.


ANTARIKSH INFRABUILD: CRISIL Reaffirms B+ Rating on INR5cr Loan
---------------------------------------------------------------
CRISIL Ratings has reaffirmed its 'CRISIL B+/Stable' rating to the
bank facilities of Antariksh Infrabuild LLP (AIL).

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Cash Credit           3.5        CRISIL B+/Stable (Reaffirmed)
   Term Loan             5          CRISIL B+/Stable (Reaffirmed)

CRISIL Ratings continues to reflect AIL's modest scale of
operations and susceptibility to intense competition in the textile
industry, moderate capital structure and susceptibility to
volatility in raw material prices. These rating weaknesses are
partially offset by the extensive experience of the partners in the
textile industry, favourable location of the manufacturing unit,
and the firm's average debt protection metrics.

Analytical Approach

Unsecured loans of INR27 Lakhs as on March 31, 2022 has been
treated as debt.

Key Rating Drivers & Detailed Description

Weaknesses:

* Modest scale of operations amidst intense competition: The firm
has a modest scale of operations as highlighted by estimated
revenues of INR26 crores in fiscal 2023 (Rs 22 crores, a year ago)
Furthermore, it remains subdued because of intense competition that
limits pricing power with suppliers and customer, and limits the
benefits related to economies of scale. The modest scale of
operations will continue to limit operating flexibility.

* Moderate capital structure: The firm has a levered capital
structure due to reliance on the outside borrowings as highlighted
by gearing and TOLANW ratio of 2.23 and 2.44 times respectively as
on March 31, 2022. The capital structure of the firm is expected to
improve over the medium term backed by steady accretion to the
reserves.

* Susceptibility to volatility in raw material prices: The primary
raw material comprises yarn, the prices of which are volatile in
nature. Operating margins has remained in the range of 6% to 20%
over the past four fiscals ended through FY 2022. AIL's revenues
and profitability will remain susceptible to fluctuations in the
prices of raw materials.

Strengths:

* Extensive experience of the partners: Presence of around 18 years
in the fabric manufacturing industry, has enabled the partners to
gain strong understanding of market dynamics and maintain healthy
relationships with customers and suppliers. These factors will help
AIL scale up operations and support the business risk profile over
the medium term.

* Favorable location of the manufacturing unit: AIL has a
manufacturing unit at Bhiwandi (Maharashtra), which is a major
textile processing hub. This facilitates proximity to key raw
materials, thus minimising transit cost, and ensuring timely
execution of orders.

* Average debt protection metrics: The debt protection metrics of
the firm has been average backed by the moderate operating
profitability as highlighted by interest coverage and net cash
accruals to adjusted debt ratio of 2.14 times and 0.09 times
respectively for fiscal 2022, estimated at 3.05 times and 0.19
times respectively for fiscal 2023. Backed by moderate
profitability the debt protection metrics are expected to remain
average over the medium term.

Liquidity: Stretched

Expected cash accruals of over INR1.5 to 2 Crores in fiscal 2024
and 2025, should be sufficient against the term debt obligations of
INR1.6 Crores and INR1.52 crores respectively. Bank limits
utilization average around 92% for the last 12 months ended October
2022. Cash and bank balance stood at INR97 lakhs as on March 31,
2022

Outlook: Stable

CRISIL Ratings believes AIL would benefit over the medium term from
partners' extensive industry experience

Rating Sensitivity factors

Upward factors

* Significant growth in revenue by, and stable operating margin,
leading to higher cash accrual above INR2.5 Crores
* Improvement in financial risk profile leading to total outside
liability to adjusted net worth ratio below 2 times

Downward factors

* Decline in scale of operations and profitability, leading to net
cash accrual of below INR1.5 crore
* Substantial increase in working capital requirement or any large,
debt-funded capex, weakening financial risk profile and liquidity

AIL was formed as a partnership between Mr Laxmichand V. Rathi and
Mrs Rashmi Agarwal in 2013. The firm has a fabric manufacturing
unit in Bhiwandi, Maharashtra. Commercial operations started from
March 2019.


ANUPAM INDUSTRIES: CRISIL Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Anupam
Industries Limited (AIL) continue to be 'CRISIL D/CRISIL D Issuer
Not Cooperating'.

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Bank Guarantee        70         CRISIL D (Issuer Not
                                    Cooperating)

   Bank Guarantee        55         CRISIL D (Issuer Not
                                    Cooperating)

   Bank Guarantee        35         CRISIL D (Issuer Not
                                    Cooperating)

   Cash Credit            4         CRISIL D (Issuer Not
                                    Cooperating)

   Cash Credit           30         CRISIL D (Issuer Not
                                    Cooperating)

   Cash Credit           10         CRISIL D (Issuer Not
                                    Cooperating)

   Cash Credit           31         CRISIL D (Issuer Not
                                    Cooperating)

   Cash Credit           28         CRISIL D (Issuer Not
                                    Cooperating)

   Cash Credit            5         CRISIL D (Issuer Not
                                    Cooperating)

   Corporate Loan        10.42      CRISIL D (Issuer Not
                                    Cooperating)

   Corporate Loan        30         CRISIL D (Issuer Not
                                    Cooperating)

   Inland/Import         10         CRISIL D (Issuer Not
   Letter of Credit                 Cooperating)

   Inland/Import          9         CRISIL D (Issuer Not
   Letter of Credit                 Cooperating)

   Inland/Import         11         CRISIL D (Issuer Not  
   Letter of Credit                 Cooperating)

   Proposed Long Term    11.58      CRISIL D (Issuer Not
   Bank Loan Facility               Cooperating)

CRISIL Ratings has been consistently following up with AIL for
obtaining information through letters and emails dated October 21,
2022 and December 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 AIL, which restricts CRISIL
Ratings' ability to take a forward looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on AIL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
AIL continues to be 'CRISIL D/CRISIL D Issuer Not Cooperating'.

AIL was set up by JC Patel as a proprietorship concern in Anand
(Gujarat) in 1973; it was reconstituted as a closely public limited
company in 1998. AIL manufactures different types of cranes
(including the electric overhead, gantry, and tower variants),
which are used in the steel, power, construction, ports, and
defence segments. It is one of the largest overhead crane suppliers
in India.

ASCON INFRATECH: Ind-Ra Assigns 'BB+' Long Term Issuer Rating
-------------------------------------------------------------
India Ratings and Research (Ind-Ra) has assigned Ascon Infratech
Private Limited (AIPL) a Long-Term Issuer Rating of 'IND BB+'. The
Outlook is Stable.

The instrument-wise rating actions are:

-- INR80 mil. Working capital limits assigned with IND BB+/Stable

     /IND A4+ rating; and

-- INR420 mil. Non-fund-based limits assigned with IND A4+
     rating.

Key Rating Drivers

The ratings reflect AIPL's small scale of operations as indicated
by revenue of INR563 million in FY22 (FY21: INR407.46 million). In
FY22, the revenue improved due to execution of a higher number of
orders. In 7MFY23, AIPL achieved revenue of INR426.68 million. As
of November 2022, AIPL had an unexecuted order book of INR2,911.54
million, majority of which is likely to executed by FY24.
Historically, there have been delays in execution of projects on
account of right of way. Hence, Ind-Ra believes execution of the
current order book could stretch beyond FY24. Ind-Ra expects the
revenue to improve further in the near term on the back of
execution of orders in hand.

The ratings are also constrained by order book concentration as
AIPL executes projects in and around Madhya Pradesh.

The ratings also reflect AIPL's average EBITDA margin of 14.18% in
FY22 (FY21: 20.49%) with a return on capital employed of 12.5% in
FY22 (FY21: 12.6%). The decrease is margins was due to a higher
purchase of raw material and an increase in sub-contracting and
transport charges. Despite the revenue growth, management expects
the EBITDA margin to remain at similar levels in FY23 owing to the
similar nature of projects being executed by the company.

Liquidity Indicator – Stretched: AIPL's average maximum
utilization of the fund-based and the non-fund-based limits was
85.69% and 42.84%, respectively, during the 12 months ended January
2023. The cash flow from operations turned negative to INR76.3
million in FY22 (FY21: INR54.3 million) due to unfavorable changes
in working capital. Furthermore, the free cash flow turned negative
to INR93.9 million in FY22 (FY21: INR 24.44 million) as it incurred
capex of around INR17.6 million (INR29.86 million) for purchase of
machinery. The net working capital cycle elongated to 129 days in
FY22 (FY21: 77 days) due to an increase in the inventory holding
period to 110 days (48 days) and a decrease in the payable period
to 64 days (73 days). The cash and cash equivalents stood at
INR4.59 million at FYE22 (FYE21: INR29.45 million). Furthermore,
AIL does not have any capital market exposure and relies on banks
to meet its funding requirements. AIPL has repayment obligations of
INR34.1 million and INR28.1 million for FY23 and FY24,
respectively.

However, the ratings are supported by AIPL's comfortable credit
metrics. The gross interest coverage (operating EBITDA/gross
interest expense) improved to 3.87x in FY22 (FY21: 3.17 x) due to a
decrease in interest expense, resulting from annual repayment of
term loans. However, the net financial leverage (adjusted net
debt/operating EBITDA) increased to 2.51x in FY22 (FY21: 1.56x) due
to an increase in short-term debt. Ind-Ra expects the credit
metrics to remain comfortable in FY23 due to a likely increase in
EBITDA.

The ratings are also supported by the promoters' more than two
decades of experience in the construction business, leading to
established relationships with its customers and suppliers.

Rating Sensitivities

Negative: Any decline in the scale of operations leading to
deterioration in the credit metrics and/or pressure on the
liquidity profile, will be negative for the ratings.

Positive: An improvement in the scale of operations while
maintaining the credit metrics and an improvement in liquidity
profile and diversification of order book, all on a sustained
basis, will be positive for the ratings.

Company Profile

AIPL was established as a partnership firm in 1985 and was
converted into a private company  in March 2010. The company is
involved in the construction of roads, bridges and highways. Its
registered office is in  Chhindwara in Madhya Pradesh.


DALAL REALITIES: CRISIL Assigns C Rating to INR15cr Bank Debt
-------------------------------------------------------------
CRISIL Ratings has assigned its 'CRISIL C' rating to the long-term
bank facility of Dalal Realities (DR).

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Overdraft Facility      15       CRISIL C (Assigned)

The rating reflects significant project risk associated with its
projects, the initial stage of the project with high offtake risk
and susceptibility to cyclicality in the real estate sector. These
weaknesses are partially offset by the extensive experience of the
partners in the real estate segment.

Key Rating Drivers & Detailed Description

Weaknesses:

* Exposure to risks associated with ongoing projects: DR is a real
estate developer in Ahmedabad, Gujarat. Operating performance will
remain susceptible to flow of advances from customers.

* Planning stage of project with high offtake risk: The firm is
into real estate development in Ahmedabad. The current project is
in the initial stage i.e., under documentation and planning stage
and the management does not have a proper plan in terms of timeline
and concept of the project to be carried out. The locality mostly
consists of residential and commercial complexes. Thus, offtake
risk is expected to remain high as the project is in the planning
stage and land cost is being incurred till date.

* 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.

Strength:

* Extensive experience of the partners: Extensive experience has
enabled the partners to establish a track record of successful
project implementation. The partners have been in the real estate
business for around 10 years and completed one residential project
in Ahmedabad.

Liquidity: Poor

Liquidity is poor for funding the construction of ongoing and
upcoming projects through a mix of customer advances, unsecured
loans, and bank loans. Current project is in the planning stage and
all the sale proceeds of the previous project were completed by end
of December 2022. However, there is no fixed source of income
considering the project that the management wants to carry out.

Moreover, the bank has funded the overdraft limit to client against
the land that has been procured. However, interest servicing is
delayed by 2-25 days in few of the months through November 2022.
Although cash flow from the projects should remain sufficient to
meet term debt obligation, any unforeseen delay in construction
might result in cost overruns, thereby affecting repayment of term
debt. Further, any deferral in receipt of advances from customers
would significantly impact liquidity.

Rating Sensitivity factors

Upward factors

* Timely commencement, with healthy rentals and occupancy
* Interest cover of more than 1.5 times
Capital infusion by the partners which will in turn improve in
financial risk profile

Downward factors

* Delay in commencement of project or large, debt funded capital
expenditure or delay in debt servicing
* Non-infusion of capital by partners which will further impact
financial risk profile and liquidity

DR was set up as partnership firm in January 2016. It is involved
in real estate development such as construction and sale of
residential complexes and flats across Ahmedabad. The firm is
developing a project in Ahmedabad. Mr. Naresh Patel, Mr. Arvind
Patel, Mr. Bharatkumar Patel, Mr. Chhanalal Patel, Mr. Vijaykumar
Patel are the partners in the firm and has extensive experience of
over a 1 decade in real estate industry.


GUHAN TEXTILE: CRISIL Lowers Rating on INR7.75cr Loan to B+
-----------------------------------------------------------
CRISIL Ratings has downgraded its ratings on the bank facilities of
Guhan Textile Mills Pvt Ltd (GTMPL) to 'CRISIL B+/Stable/CRISIL A4'
from 'CRISIL BB-/Stable/CRISIL A4+'.

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Letter Of Guarantee   0.13       CRISIL A4 (Downgraded from
                                    'CRISIL A4+ ')

   Letter of Credit      3          CRISIL A4 (Downgraded from
                                    'CRISIL A4+ ')

   Open Cash Credit      7.75       CRISIL B+/Stable (Downgraded
                                    from 'CRISIL BB-/Stable')

   Term Loan             7.12       CRISIL B+/Stable (Downgraded
                                    from 'CRISIL BB-/Stable')

The downgrade in rating reflects deterioration in the financial
risk profile of the firm, in particular liquidity. The net cash
accruals of the firm were low in fiscal 2022, owing to weak
profitability and. Despite revenue growth, operating margins
decline to 3.62% in fiscal 2023 from 3.65% times in fiscal 2022,
which is attributable to decline in realization. Decline in
operating performance has also resulted in modest financial risk
profile marked by high TOLTNW of 4.80 times as on March 31, 2022.
Improvement in operating performance resulting in better liquidity
and financial profile would remain key rating monitorable over the
medium term.

The rating continues to reflect working capital intensive
operations and weak financial risk profile. These weaknesses are
partially offset by extensive experience of partners and moderate
scale of operation

Analytical Approach

For arriving at the ratings, CRISIL Ratings has combined the
business and financial risk profiles of Guhan Textile Mills Private
Limited (GTMPL) and Parani Spinning Mills Private Limited (PSM).
This is because all these entities, together referred as the Guhan
group, operate in the same industry and have operational and
financial linkages.

USL of around INR24 crore for the group, has been treated as
neither debt nor equity (NDNE) in line with CRISIL's analytical
approach

Key Rating Drivers & Detailed Description

Weaknesses:

* Working capital-intensive operations: Gross current assets were
high at 293 days as on March 31, 2022, on account of receivables
and inventory of 27 days and 263 days, respectively. However,
working capital requirement is partly supported by payables of
around 20 days, it is expected to be remains same over the medium
term

* Weak financial risk profile: Net worth was modest at INR5 crore
as on March 31, 2022, albeit gearing has been high at 2.86 times as
on March 31, 2022. Debt protection metrics remained modest, with
interest coverage and net cash accrual to total debt ratios of 2.39
times and 0.07 times, respectively as on March 31, 2022, driven by
modest operating margin.

Strengths:

* Extensive experience of promoters and proximity to textile hub:
Presence of over two decades in the textile spinning industry has
enabled the promoters to understand domestic market dynamics,
withstanding economic cycles, and establish strong relationship
with customers and suppliers. Moreover, manufacturing facilities
are located in Tirupur, Tamil Nadu, which is one of the major
textile manufacturing and processing hub and gives easy access to a
large clientele

Liquidity: Stretched

Average month end bank limit utilization for the last 12 months
ended on October, 2022 is modest at around 97%. Net cash accruals
are estimated at around INR3 crores in fiscal 2023 and is likely to
remain insufficient against repayment obligations of less than INR4
crore. cash accruals of INR3-4 crores are tightly matched against
the repayment obligations of INR2.5 crores in fiscal 2024 and
fiscal 2025.

Outlook Stable

CRISIL Ratings believes that GTMPL will continue to benefit over
the medium term from the extensive industry experience of its
promoters in cotton hosiery manufacturing Industry.

Rating Sensitivity factors

Upward Factors:

* Strong revenue growth while maintaining EBITDA margin of more
than 6%
* Efficient working capital management and maintenance of moderate
capital structure
* Improvement in liquidity with high cushion in bank limits and
improvement in Net cash    accrual against the Repayment
obligation

Downward Factors:

* Major decline in revenues or operating margin leading to net cash
accruals of less than INR3 crore
* Stretch in working capital cycle or significant debt funded
capex

Incorporated in 1992, Guhan Textile Mills Private Limited (GTMPL)
is engaged in the business of manufacturing of Cotton hosiery
combed and slub yarns ranging from 20s to 60s counts. The company
is promoted by Mr. Karuppusamy and family and is based out of
Tirupur, Tamil Nadu.

Parani Spinning Mills Private Limited (PSM) is engaged in the
business of manufacturing of cotton hosiery combed and melange
yarns ranging from 20s to 60s counts, and is based out of Tirupur,
Tamil Nadu.


INDICO MOTORS: Ind-Ra Keeps BB Issuer Rating in Non-Cooperating
---------------------------------------------------------------
India Ratings and Research (Ind-Ra) has maintained Indico Motors
Private Limited's Long-Term Issuer Rating of 'IND BB (ISSUER NOT
COOPERATING)' in the non-cooperating category and has
simultaneously withdrawn it.  

The instrument-wise rating actions are:

-- INR220 mil. Fund-based limits* maintained in non-cooperating
     category and withdrawn; and

-- INR20 mil. Non-fund-based limits** maintained in non-
     cooperating category and withdrawn.

*Maintained at 'IND BB (ISSUER NOT COOPERATING)' before being
withdrawn

**Maintained at 'IND A4+ (ISSUER NOT COOPERATING)' before being
withdrawn

Key Rating Drivers

The ratings have been maintained in the non-cooperating category
before being withdrawn because the issuer did not participate in
the rating exercise, despite repeated requests by the agency, and
has not provided information of the past four years audited
financials, latest bank sanction letter and utilization, business
plans and projections for the next three years, information on
corporate governance and management certificate.  

Ind-Ra is no longer required to maintain the ratings, as the agency
has received a no-objection certificate from the lender. This is
consistent with Ind-Ra's Policy on Withdrawal of Ratings.

Company Profile

Founded in 1989 by Sanjay Dubey, Indico Motors manufactures bodies
of heavy commercial vehicles, such as tippers, trailers and tip
trailers.


IRB INFRASTRUCTURE: Fitch Affirms BB+ LongTerm IDR, Outlook Stable
------------------------------------------------------------------
Fitch Ratings has affirmed the Long-Term Issuer Default Rating on
IRB Infrastructure Developers Ltd at 'BB+'. The Outlook is Stable.

Fitch has also affirmed the rating on India Toll Roads' US dollar
senior secured notes at 'BB'. The Outlook is Stable.

RATING RATIONALE

The affirmation reflects Fitch's expectation of robust traffic
performance by IRB's diverse portfolio of assets. Traffic volumes
recovered strongly over the past year and have exceeded levels
before the Covid-19 pandemic. The ratings also consider the
company's record in operating and maintaining the group's assets to
a high standard, with expertise provided by the in-house
engineering, procurement, and construction (EPC) business.

Under the Fitch rating case, the group's consolidated debt service
coverage ratio (DSCR) will average 1.47x over the financial year
ending March 2023 (FY23) to FY26.

India Toll Roads is an orphan financing vehicle with no equity or
guarantee linkage to IRB. Fitch rates the debt issued by India Toll
Roads one notch below the credit profile of IRB to account for
risks related to orphan issuance structures.

KEY RATING DRIVERS

Diversified Portfolio, Robust Fundamentals - Revenue Risk (Volume):
High Midrange

IRB wholly owns five projects, with a build-operate-transfer (BOT)
project and a toll-operate-transfer one in operation, while the
rest are under construction. It owns 51% of another
under-construction project. The roads extend nearly 500km in
Maharashtra, Gujarat, Uttar Pradesh, Himachal Pradesh and Tamil
Nadu. They are on or adjacent to key corridors in India's national
highway network. History suggests reasonably robust local and
long-distance traffic fundamentals, with a diversified mix of
users. However, commercial vehicles make up a larger share of
traffic on IRB's roads than at peers, and the roads face some
competition. Fitch assesses the toll rates as low and the wider
portfolio has limited price elasticity.

Through its ownership in IRB Infrastructure Trust (known as Private
InvIT) and IRB InvIT Fund (known as Public InvIT), IRB is also
exposed to traffic risk on 15 build-operate-transfer projects.
Fitch regards the risk profile of these projects as consistent with
IRB's fully owned assets. Most concessions under the two InvIT
funds consist of corridors that form part of the "golden
quadrilateral", the national highway network that connects India's
major industrial, agricultural and cultural centres. The projects
are geographically diversified and cater to a mix of car and
commercial traffic, but are subject to competition from free
alternative routes.

The factor has been assessed as 'High Midrange' under Fitch's
Transportation Infrastructure Rating Criteria, which analyses
volume risk on a five-point scale with six sub-factors. IRB is
assessed as 'Stronger' for strategic importance, diversification
and relative cost to end users, and 'Midrange' for the rest of the
sub-factors.

Formula-Linked Tariff Increases - Revenue Risk (Price): Midrange

IRB's wholly owned concessions permit pre-defined toll-rate
increases that are regulated by the National Highways Authority of
India (NHAI) or Maharashtra State Road Development Corporation. The
concession for the Mumbai-Pune Expressway in Maharashtra provides
for a toll increase of 18% every third year until FY24 and that for
National Highway 48 in the state provides for a 16% rise every
third year until the concession ends in 2031. Tolls under NHAI
concessions comprise base fees and an increase of 3% a year plus
40% of the rise in India's wholesale price index (WPI). We expect
tolls for roads under both authorities to track its WPI
expectations in the long run.

The central government suspended all tolls on national highways for
25 days in 2020 due to the pandemic. The NHAI extended concession
periods by 90 days to compensate toll-road operators. There have
been no other instances of legislative or political interference in
rate adjustments. NHAI's concession agreements with IRB allow the
maturity dates to be extended or shortened based on thresholds
linked to revenue, mitigating the risks of price escalation and
traffic underperformance.

Well-Developed Capital Plan - Infrastructure Development and
Renewal: Stronger

IRB has a well-developed capital and maintenance plan for each road
and undertakes in-house operation and maintenance (O&M) works for
each SPV. The captive EPC business has implemented over 15,000 lane
km of projects to date. IRB's strategy is to use its EPC
capabilities for in-house projects, and it does not bid for
third-party contracts. All EPC and O&M contracts are executed on a
fixed-price, date-certain basis. IRB has not been responsible for
any significant delays or cost overruns to date.

The concession agreements provide for periodic inspections to
monitor performance against objectives, with all assets evaluated
at least "very good" under NHAI's criteria. Capacity is above the
medium-term traffic forecasts of IRB's technical consultant and
capex requirements are met through internal accruals for all
projects. The agreements do not specifically provide for the
recovery of maintenance costs through higher rates, but incorporate
toll increases that provide some protection against rising costs.
The risk is also contractually mitigated, as many O&M agreements
cover the entire concession life.

Largely Amortising Debt - Debt Structure: Midrange

The group's secured borrowings consist of non-convertible
debentures and SPV-level term loans. All the SPV debt and some
holding-company debt are fully amortising, while IRB faces some
residual refinancing risk at the holding-company level, including
from the US dollar notes. The US dollar notes pay a fixed coupon
and the covenant package is adequate, and includes limits on
additional indebtedness and restricted payment conditions on a
consolidated group basis. The notes also benefit from a six-month
interest service reserve account and a dedicated escrow account at
the IRB level.

Structural subordination exists at the holding company as IRB
partly relies on dividends from subsidiaries to service its debt.
However, Fitch believes that the cash flow is fungible, supported
by domestic financing at the subsidiary level with lenient
restrictive covenants. The subsidiaries' domestic debt can also be
refinanced easily, if required. Moreover, the holding company's
EBITDA coverage ratio, including dividends from subsidiaries and
infrastructure investment trust, is comfortable at about 5.5x in
FY24-FY25 in Fitch's rating case. As a result, the structural
subordination does not affect the credit assessment.

PEER GROUP

IRB can be compared with Yuexiu Transportation Infrastructure
Limited (YXT, BBB/Stable), a China-based concession group with a
large portfolio of expressways, including a diverse network in
Guangdong province and central China, with few roads facing
competition. IRB has a stronger volume and price risk assessment.
YXT's price risk is weaker due to a lack of transparency and
predictability in the regulatory framework compared with IRB. IRB's
financial profile is also slightly better than that of YXT. IRB is
rated two notches below YXT as the Indian company is exposed to the
more volatile EPC contracting business.

IRB can also be compared with Vinci S.A. (A-/Stable), a French
concessions and contracting group. Vinci has a global footprint and
a more diversified portfolio of toll roads and airports with a high
level of liquidity. These factors, combined with Vinci's
demonstrated superior access to loan and bond markets, account for
the higher rating relative to IRB in spite of Vinci's higher
leverage. The Fitch rating case for Vinci projects net leverage to
average 3.3x between 2022 and 2025, while IRB's consolidated
average net leverage is forecast at 2.2x between FY23 and FY26.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

Sustained deterioration in consolidated DSCR to below 1.25x due to
an increase in costs, traffic underperformance and/or a material
change in IRB's financials and dividend policy.

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

Consolidated DSCR profile forecast to be consistently in excess of
1.5x under Fitch's rating case.

CREDIT UPDATE

Financial Update: The issuer reported improved financials for
1HFY23 compared with a year earlier period, which was affected by
the pandemic:

- Toll revenues from the Mumbai-Pune and Ahmedabad-Vadodara
projects increased by 28% yoy to INR9.98 billion. Toll collections
have exceeded pre-pandemic levels.

- Construction revenue increased by 4.2% yoy to INR24.1 billion.

- Total revenue rose by 8.2% yoy to INR34.3 billion.

- Consolidated EBITDA climbed by 26% yoy to INR18.9 billion.

Project Sale: During FY23, IRB transferred its Vadodara Kim
Expressway Project to IRB InvIT Fund at an enterprise value of
INR12.97 billion, comprising INR9.55 billion of debt and INR3.42
billion of equity value. The NHAI approved the transfer on 1
November 2022.

Arbitration Update: IRB received INR3.08 billion, the equivalent of
75% of the total compensation of INR.4.19 billion from the NHAI
that was awarded after arbitration. The compensation was for delays
and cost overruns not attributable to IRB in the Pathankot Amritsar
BOT project, which is part of the IRB InvIT Fund and for which IRB
was an EPC contractor.

FINANCIAL ANALYSIS

Fitch's base case is aligned with the sponsor's case, which
assumes, among other things, a blended average traffic growth of
7.8% (FY24-FY25) and 7.3% (FY26-FY30) on the Mumbai-Pune toll road,
the consultant's "most likely" case for the IRB Infrastructure
Trust, a 22% EBITDA margin for the EPC business, and the sponsor's
case for future EPC revenues.

Fitch's rating case incorporates further stress, including the
consultant's "conservative" case for IRB Infrastructure Trust, a
lower EBITDA margin (17%) for the EPC business, and slower traffic
growth for the Mumbai-Pune and Ahmedabad-Vadodara projects.

The Fitch rating case forecasts consolidated DSCR to average 1.72x
between FY23 and FY29, with a profile DSCR that averages 1.47x
between FY23 and FY26.

The Fitch rating-case leverage declines from a peak of 3.1x in FY23
to 1.3x in FY26.

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.

   Entity/Debt                 Rating         Prior
   -----------                 ------         -----
IRB Infrastructure
Developers Ltd          LT IDR BB+ Affirmed    BB+

India Toll Roads

   IRB Infrastructure
   Developers Ltd/
   Senior Secured
   Debt/1 LT            LT     BB  Affirmed    BB

JULIET APPARELS: CRISIL Lowers Rating on INR18.25cr Loan to B-
--------------------------------------------------------------
CRISIL Ratings has revised its ratings on the bank facilities of
Juliet Apparels Private Limited (JAPL) from 'CRISIL
B+/Stable/CRISIL A4' to 'CRISIL D/CRISIL D' and simultaneously
upgraded the ratings to 'CRISIL B-/Stable/CRISIL A4'.

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Bank Guarantee         0.1       CRISIL A4 (Revised from
                                    'CRISIL A4' to 'CRISIL D' and
                                    Simultaneously Upgraded to
                                    'CRISIL A4')

   Cash Credit           18.25      CRISIL B-/Stable (Revised
                                    from 'CRISIL B+/Stable'
                                    to 'CRISIL D' and
                                    Simultaneously Upgraded to
                                    'CRISIL B-/Stable')

   Inland/Import          2.30      CRISIL A4 (Revised from
   Letter of Credit                 'CRISIL A4' to 'CRISIL D' and
                                    Simultaneously Upgraded to
                                    'CRISIL A4')

   Proposed Fund-         0.72      CRISIL B-/Stable (Revised
   Based Bank Limits                from 'CRISIL B+/Stable'
                                    to 'CRISIL D' and
                                    Simultaneously Upgraded to
                                    'CRISIL B-/Stable')

   Term Loan               0.81     CRISIL B-/Stable (Revised
                                    from 'CRISIL B+/Stable'
                                    to 'CRISIL D' and
                                    Simultaneously Upgraded to
                                    'CRISIL B-/Stable')

   Term Loan               2.66     CRISIL B-/Stable (Revised
                                    from 'CRISIL B+/Stable'
                                    to 'CRISIL D' and
                                    Simultaneously Upgraded to
                                    'CRISIL B-/Stable')

   Term Loan               0.82     CRISIL B-/Stable (Revised
                                    from 'CRISIL B+/Stable'
                                    to 'CRISIL D' and
                                    Simultaneously Upgraded to
                                    'CRISIL B-/Stable')

   Term Loan               7.51     CRISIL B-/Stable (Revised
                                    from 'CRISIL B+/Stable'
                                    to 'CRISIL D' and
                                    Simultaneously Upgraded to
                                    'CRISIL B-/Stable')

   Term Loan               1.74     CRISIL B-/Stable (Revised
                                    from 'CRISIL B+/Stable'
                                    to 'CRISIL D' and
                                    Simultaneously Upgraded to
                                    'CRISIL B-/Stable')

   Term Loan               1.26     CRISIL B-/Stable (Revised
                                    from 'CRISIL B+/Stable'
                                    to 'CRISIL D' and
                                    Simultaneously Upgraded to
                                    'CRISIL B-/Stable')

   Term Loan               0.31     CRISIL B-/Stable (Revised
                                    from 'CRISIL B+/Stable'
                                    to 'CRISIL D' and
                                    Simultaneously Upgraded to
                                    'CRISIL B-/Stable')

   Term Loan              11.74     CRISIL B-/Stable (Revised
                                    from 'CRISIL B+/Stable'
                                    to 'CRISIL D' and
                                    Simultaneously Upgraded to
                                    'CRISIL B-/Stable')

   Term Loan               2.33     CRISIL B-/Stable (Revised
                                    from 'CRISIL B+/Stable'
                                    to 'CRISIL D' and
                                    Simultaneously Upgraded to
                                    'CRISIL B-/Stable')

   Term Loan              10.39     CRISIL B-/Stable (Revised
                                    from 'CRISIL B+/Stable'
                                    to 'CRISIL D' and
                                    Simultaneously Upgraded to
                                    'CRISIL B-/Stable')

   Term Loan               4.76     CRISIL B-/Stable (Revised
                                    from 'CRISIL B+/Stable'
                                    to 'CRISIL D' and
                                    Simultaneously Upgraded to
                                    'CRISIL B-/Stable')

   Term Loan               1.30     CRISIL B-/Stable (Revised
                                    from 'CRISIL B+/Stable'
                                    to 'CRISIL D' and
                                    Simultaneously Upgraded to
                                    'CRISIL B-/Stable')
   Working Capital
   Term Loan              13        CRISIL B-/Stable (Revised
                                    from 'CRISIL B+/Stable'
                                    to 'CRISIL D' and
                                    Simultaneously Upgraded to
                                    'CRISIL B-/Stable')

The ratings revision to CRISIL D/CRISIL D takes into account the
delay in servicing of term debt obligations during fiscal 2022.
However, the rating has been simultaneous upgrade because of timely
servicing of debt obligations for the over 90 days, however
liquidity continues to remain poor with limited cushion in net cash
accruals against debt repayments as well as high bank limit
utilisation.

The rating reflects JAPL's modest scale of operations in a highly
competitive industry, working capital-intensive operations and weak
financial profile. These weaknesses are partially offset by the
extensive experience of the promoters in the textile industry.

Analytical Approach

Unsecured loans of INR 36.98 crore as on March 31, 2022, have been
treated as debt.

Key Rating Drivers & Detailed Description

Weaknesses:

* Modest scale in a highly competitive industry: JAPL's scale of
operations is modest as reflected in revenues of over INR135 crore
in fiscal 2022. The textile industry is highly fragmented and
competitive, which limits pricing flexibility and bargaining power
of the players. Also, the threat from large integrated players in
the form of capacity additions limits growth. Significant ramp up
in the scale of operations remains a key monitorable for the medium
term.

* Working capital-intensive operations: Gross current assets (GCAs)
were 200- 235 days for the three fiscals ended March 31, 2022. GCAs
were 213 days as on March 31, 2022, driven by high debtors of 162
days and inventory of 116 days in fiscal 2022. The company is
required to extend long credit period and holds large
work-in-process and inventory. Working capital cycle is expected to
continue to remain stretched over the medium term.

* Weak financial risk profile: JAPL has a weak financial profile,
as indicated by total outside liabilities to adjusted net worth
(TOLANW) ratio of 3.98 times as on March 31, 2022. Debt protection
metrics have also been weak in the past with interest coverage and
net cash accrual to total debt ratios of 1.81 times and 0.09 times,
respectively, for fiscal 2022. Financial profile is expected to
continue to remain at similar levels because of high reliance on
external debt.

Strengths:

* Extensive industry experience of the promoters: The promoters
have experience of over four decades in the textile industry. This
has given them a strong understanding of the market dynamics and
enabled them to establish long standing relationships with
suppliers and customers. The promoters' extensive industry
experience and established relationships with customers and
suppliers should continue to support the business risk profile over
the medium term.

Liquidity: Poor

Bank limit utilization was high at 99% for the 12 months through
December 2022. Cash accrual is expected to be INR11-12 crore, which
is tightly matched against term debt obligation of INR10-11 crore
annually. Unsecured loans of INR36.98 crore, as on March 31, 2022,
are expected to stay in the business over the medium term and
should continue to support the liquidity.

Outlook: Stable

CRISIL Ratings believes JAPL will continue to benefit from the
extensive experience of its promoters and established relationships
with clients.

Rating Sensitivity factors

Upward factors

* Significant improvement in revenues and profitability increasing
the cushion between net cash accruals to repayment obligations
above 1.2 times
* Improvement in financial risk profile and liquidity

Downward factors

* Sharp decline in revenue by 20% or operating margin leading to
lower than expected net cash accruals thus deteriorating the
liquidity
* Stretch in the working capital cycle

Incorporated in 2000, JAPL manufactures ladies' undergarments,
nightwear, dresses, and western outfits. The company is promoted by
the Trevadia family and is based out of Mumbai, Maharashtra.


KAYNES TECHNOLOGY: CRISIL Keeps D Debt Rating in Not Cooperating
----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Kaynes
Technology India Private Limited (KTIPL) continue to be 'CRISIL D
Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Non Convertible        17        CRISIL D (ISSUER NOT
   Debentures                       COOPERATING)

CRISIL Ratings has been consistently following up with KTIPL for
obtaining information through letters and emails dated October 21,
2022 and December 30, 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 KTIPL, which restricts CRISIL
Ratings' ability to take a forward looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on KTIPL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
KTIPL continues to be 'CRISIL D Issuer Not Cooperating'.

KTIPL was set up as a sole proprietorship of Mr Ramesh Kanan in
1988, and reconstituted as a private limited company in 2008. The
company is primarily engaged in turnkey manufacturing of printed
circuit board (PCB) assemblies, and also offers end-to-end services
for PCBs. It has seven manufacturing facilities, one design
services facility, and two service centres.


M/S AVIGNA: Ind-Ra Withdraws 'D' Long Term Issuer Rating
--------------------------------------------------------
India Ratings and Research (Ind-Ra) has withdrawn M/s Avigna
Properties Private Limited's (APPL) Long-Term Issuer Rating of 'IND
D (ISSUER NOT COOPERATING)'.

The instrument-wise rating actions are:

-- INR200 mil. Term loan (Long-term) due on September 2022 is
     withdrawn (paid in full).

Key Rating Drivers

Ind-Ra is no longer required to maintain the ratings, as the agency
has received no dues certificate from the lender. This is
consistent with Ind-Ra's Policy on Withdrawal of Ratings. Ind-Ra
will no longer provide analytical and rating coverage for APPL.

Company Profile

Incorporated in 2013, APPL undertakes real estate projects. Its
ongoing project comprises 415 apartments and 452 villas, spread
across more than 1.2 million square feet.


MCLEOD RUSSEL: NCLT Admits Insolvency Bid Against Company
---------------------------------------------------------
Business Standard reports that the National Company Law Tribunal,
Kolkata Bench, on Feb. 10, admitted an application for initiating a
corporate insolvency resolution process (CIRP) against McLeod
Russel India, the country's largest bulk tea producer and part of
the Brij Mohan Khaitan group.

In a filing with the stock exchanges, the company informed that
NCLT, Kolkata Bench, had admitted an application filed by IL&FS
Infrastructure Debt Fund under Section 7 of the Insolvency and
Bankruptcy Code (IBC).

According to the report, McLeod Russel sources said that it would
appeal against the order in the National Company Law Appellate
Tribunal (NCLAT) and indicated that discussions with IL&FS were
also on for a settlement.

"We are engaging with IL&FS and at the same time we will go through
the normal appeal process," the sources added.

IL&FS sought to initiate CIRP against McLeod Russel in connection
with a default in payment in 2019, the report notes. The amount as
on November 12, 2019 was Rs 347.47 crore, of which the principal
amount is about Rs 252.66 crore.

Business Standard relates that the default in payment pertained to
two group companies of McLeod Russel – Babcock Borsig (Rs 150
crore) and Williamson Magor & Company (Rs 99.5 crore); McLeod had
executed a shortfall undertaking in favour of the financial
creditor.

A clause in the undertaking said on a breach by Williamson Magor
and Babcock of its obligation to maintain the required amounts in
the debt service reserve account (DSRA) under the respective
debenture trust deeds, McLeod would have an irrevocable and
unconditional obligation towards the financial creditor to meet any
shortfall.

Business Standard says the tribunal found that a financial debt
exists, which has been defaulted by the McLeod Russel and
accordingly the application of IL&FS Infrastructure Debt Fund for
initiating CIRP against McLeod Russel was admitted and an interim
resolution professional appointed.

This is not the first time that McLeod has been admitted for CIRP.

In August 2021, the NCLT, New Delhi Bench, had admitted an
application by Techno Electric & Engineering Company under Section
7 of the IBC, Business Standard recalls. However, the application
was withdrawn after a settlement.

The CIRP comes at a time when McLeod has entered into exclusive
talks with Carbon Resources for a one-time settlement of its debt
to lenders, the report says. McLeod's bank debt is understood to be
in the range of Rs 1,600 crore.

McLeod Russel India Limited (MRIL), the tea plantation company of
the Kolkata-based B.M. Khaitan Group, was originally incorporated
as Eveready Company India Private Ltd. on May 5, 1998. MRIL was
formed after the demerger of the bulktea business from Eveready
Industries India Ltd. (EIIL) with effect from April 1, 2004. MRIL
has acquired several other companies like Williamson Tea Assam in
FY2006, Doom Dooma Tea Company in FY2007 and Moran Tea in FY2008.
These acquisitions helped MRIL increase the number of tea estates
to 53 in India with 33,723 hectares (Ha) of total land under tea
cultivation.


MEDNOMIC HEALTHCARE: CRISIL Reaffirms B Rating on INR12.5cr Loan
----------------------------------------------------------------
CRISIL Ratings has reaffirmed its 'CRISIL B/Stable' rating on the
long-term bank facility of Mednomic Healthcare Private Limited
(MHPL).

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Term Loan              12.5      CRISIL B/Stable (Reaffirmed)

The rating continues to reflect the exposure to risks related to
ongoing project, leveraged capital structure and high geographical
concentration in revenue. These weaknesses are partially offset by
the extensive industry experience of the promoter.

Key Rating Drivers & Detailed Description

Weakness:

* Susceptibility to risks related to ongoing project: The company
is scheduled to commence its project in March 2023 on account of
slight delay in construction related work. Demand risk is expected
to be low due to shortage of hospital beds in Guwahati.
Furthermore, there are no major renal science centers in adjoining
districts. However, timely funding and completion and subsequent
stabilization of operations will remain key rating sensitivity
factors.

* Exposure to intense competition: The healthcare segment has many
organized and unorganized players who will continue to pose a
challenge for MHPL.

* Expected leveraged capital structure: Gearing is likely to be
weak and debt protection metrics modest. The project is
aggressively funded at a debt-equity ratio of 1.75 times.

Strengths:

* Longstanding presence of the promoter: Experience of over two
decades of the promoter, his strong understanding of market
dynamics, and healthy relations with patients should continue to
support the business. The hospital is expected to witness healthy
occupancy after commencement.

Liquidity: Stretched

Total project cost of INR22 crore is funded through term loan of
INR12.5 crore and promoter funds of about 8 Cr. Liquidity is
supported by sufficient moratorium of 12 months from the
commencement date; debt repayments commence from January 2024. Even
with 60% occupancy, the hospital will be able to generate accrual
of more than INR1.5 crore against debt repayment of INR0.15 crore
in fiscal 2024.

Outlook Stable

CRISIL Ratings believes MHPL will benefit from the extensive
experience of its promoter.

Rating Sensitivity factors

Upward factors:

* Timely completion of the project with no cost overrun
* Timely ramp-up and stabilisation of operations with revenue of
more than INR24 crore fiscal 2024 onwards and accrual of over
INR1.5 crore

Downward factors:

* Significant delay in commencement of operations with cost
overrun, thereby hampering business risk profile
* Cash accrual of less than INR1 crore, which will not be adequate
to meet debt obligation going forward affecting the liquidity
profile of the company

Established in 2016 by Dr Arup Kumar Nath, MHPL is setting up an
80-bed healthcare facility, Advanced Urology and Kidney Diseases
Hospital, which will specialise in urology, nephrology and
gynaecology.


N. K. BHOJANI: CRISIL Keeps D Debt Ratings in Not Cooperating
-------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of N. K. Bhojani
Private Limited (NKBPL) continue to be 'CRISIL D/CRISIL D Issuer
Not Cooperating'.

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Bank Guarantee        4          CRISIL D (Issuer Not
                                    Cooperating)

   Bank Guarantee        3          CRISIL D (Issuer Not
                                    Cooperating)

   Cash Credit          19.5        CRISIL D (Issuer Not
                                    Cooperating)

   Letter of Credit      0.75       CRISIL D (Issuer Not
                                    Cooperating)

   Proposed Long Term    4.89       CRISIL D (Issuer Not
   Bank Loan Facility               Cooperating)

   Term Loan             6.75       CRISIL D (Issuer Not
                                    Cooperating)

   Term Loan             0.68       CRISIL D (Issuer Not
                                    Cooperating)

   Term Loan             0.94       CRISIL D (Issuer Not
                                    Cooperating)

   Term Loan             0.11       CRISIL D (Issuer Not
                                    Cooperating)

   Term Loan             0.10       CRISIL D (Issuer Not
                                    Cooperating)

   Term Loan             0.67       CRISIL D (Issuer Not
                                    Cooperating)

   Term Loan             0.23       CRISIL D (Issuer Not
                                    Cooperating)

   Term Loan             2.82       CRISIL D (Issuer Not
                                    Cooperating)

   Term Loan             3.69       CRISIL D (Issuer Not
                                    Cooperating)

   Term Loan             0.66       CRISIL D (Issuer Not
                                    Cooperating)

   Term Loan             1.08       CRISIL D (Issuer Not
                                    Cooperating)

   Term Loan             0.04       CRISIL D (Issuer Not
                                    Cooperating)

   Term Loan             0.04       CRISIL D (Issuer Not
                                    Cooperating)

   Term Loan             0.05       CRISIL D (Issuer Not
                                    Cooperating)

CRISIL Ratings has been consistently following up with NKBPL for
obtaining information through letters and emails dated October 21,
2022 and December 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 NKBPL, which restricts CRISIL
Ratings' ability to take a forward looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on NKBPL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
NKBPL continues to be 'CRISIL D/CRISIL D Issuer Not Cooperating'.

NKBPL, incorporated in 1996, is promoted and managed by Mr N K
Bhojani. The company manufactures sponge iron, mines iron ore, and
has a dealership contract with Larsen & Toubro Ltd for sale of
spares and for service. Its manufacturing facilities are in Rugudi,
Odisha.


OMKAR SPECIALITY: CRISIL Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Omkar
Speciality Chemicals Limited (OSCL) continue to be 'CRISIL D/CRISIL
D Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Bill Discounting      10         CRISIL D (Issuer Not
                                    Cooperating)

   Cash Credit           46         CRISIL D (Issuer Not
                                    Cooperating)

   Cash Credit           25         CRISIL D (Issuer Not
                                    Cooperating)

   Corporate Loan        50         CRISIL D (Issuer Not
                                    Cooperating)

   Letter of Credit      60         CRISIL D (Issuer Not
                                    Cooperating)

CRISIL Ratings has been consistently following up with OSCL for
obtaining information through letters and emails dated October 21,
2022 and December 30, 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 OSCL, which restricts CRISIL
Ratings' ability to take a forward looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on OSCL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
OSCL continues to be 'CRISIL D/CRISIL D Issuer Not Cooperating'.

For arriving at its ratings, CRISIL Ratings has combined the
business and financial risk profiles of OSCL and its erstwhile
subsidiaries, Risichem Research Ltd. (RRL) and Desh Chemicals Pvt.
Ltd. (DCPL) till fiscal 2017. These subsidiaries have been merged
with OSCL, as per the scheme of arrangement sanctioned by National
Company Law Tribunal (NCLT).

OSCL, set up in 1983, manufactures specialty chemicals, organic and
inorganic chemicals, and inorganic intermediates such as iodine,
selenium, molybdenum and their derivatives. The pharmaceutical
industry remains the major end user segment of the company,
accounting for nearly 70-75% of its revenues, with poultry, glass
and water treatment being the other major end user segments. The
company has 6 manufacturing facilities in Badlapur, Maharashtra.


PARANI SPINNING: CRISIL Lowers Rating on INR8.50cr Loan to B+
-------------------------------------------------------------
CRISIL Ratings has downgraded its ratings on the bank facilities of
Parani Spinning Mills Pvt Ltd (GTMPL) to 'CRISIL B+/Stable/CRISIL
A4' from 'CRISIL BB-/stable/CRISIL A4+'.

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Buyer Credit          0.79       CRISIL B+/Stable (Downgraded
   Limit                            from 'CRISIL BB-/Stable')

   Inland/Import         3          CRISIL A4 (Downgraded from
   Letter of Credit                 'CRISIL A4+ ')

   Open Cash Credit      8.50       CRISIL B+/Stable (Downgraded
                                    from 'CRISIL BB-/Stable')

   Term Loan             5.71       CRISIL B+/Stable (Downgraded
                                    from 'CRISIL BB-/Stable')

The downgrade in rating reflects deterioration in the financial
risk profile of the firm, in particular liquidity. The net cash
accruals of the firm were low in fiscal 2022, owing to weak
profitability and. Despite revenue growth, operating margins
decline to 3.62% in fiscal 2023 from 3.65% times in fiscal 2022,
which is attributable to decline in realization. Decline in
operating performance has also resulted in modest financial risk
profile marked by high TOLTNW of 4.80 times as on March 31, 2022.
Improvement in operating performance resulting in better liquidity
and financial profile would remain key rating monitorable over the
medium term.

The rating continues to reflect working capital intensive
operations and weak financial risk profile. These weaknesses are
partially offset by extensive experience of partners and moderate
scale of operation

Analytical Approach

For arriving at the ratings, CRISIL Ratings has combined the
business and financial risk profiles of Guhan Textile Mills Private
Limited (GTMPL) and Parani Spinning Mills Private Limited (PSM).
This is because all these entities, together referred as the Guhan
group, operate in the same industry and have operational and
financial linkages.

USL of around INR24 crore for the group, has been treated as
neither debt nor equity (NDNE) in line with CRISIL's analytical
approach.

Key Rating Drivers & Detailed Description

Weaknesses:

* Working capital-intensive operations: Gross current assets were
high at 293 days as on March 31, 2022, on account of receivables
and inventory of 27 days and 263 days, respectively. However,
working capital requirement is partly supported by payables of
around 20 days, it is expected to be remains same over the medium
term

* Weak financial risk profile: Net worth was modest at INR5 crore
as on March 31, 2022, albeit gearing has been high at 2.86 times as
on March 31, 2022. Debt protection metrics remained modest, with
interest coverage and net cash accrual to total debt ratios of 2.39
times and 0.07 times, respectively as on March 31, 2022, driven by
modest operating margin.

Strengths:

* Extensive experience of promoters and proximity to textile hub:
Presence of over two decades in the textile spinning industry has
enabled the promoters to understand domestic market dynamics,
withstanding economic cycles, and establish strong relationship
with customers and suppliers. Moreover, manufacturing facilities
are located in Tirupur, Tamil Nadu, which is one of the major
textile manufacturing and processing hub and gives easy access to a
large clientele

Liquidity: Stretched

Average month end bank limit utilization for the last 12 months
ended on October, 2022 is modest at around 97%. Net cash accruals
are estimated at around INR3 crores in fiscal 2023 and is likely to
remain insufficient against repayment obligations of less than INR4
crore. cash accruals of INR3-4 crores are tightly matched against
the repayment obligations of INR2.5 crores in fiscal 2024 and
fiscal 2025

Outlook Stable

CRISIL Ratings believes that GTMPL will continue to benefit over
the medium term from the extensive industry experience of its
promoters in cotton hosiery manufacturing Industry.

Rating Sensitivity factors

Upward Factors:

* Strong revenue growth while maintaining EBITDA margin of more
than 6%
* Efficient working capital management and maintenance of moderate
capital structure
* Improvement in liquidity with high cushion in bank limits and
improvement in Net cash    accrual against the Repayment
obligation

Downward Factors:

* Major decline in revenues or operating margin leading to net cash
accruals of less than INR3 crore
* Stretch in working capital cycle or significant debt funded
capex

Incorporated in 1992, Guhan Textile Mills Private Limited (GTMPL)
is engaged in the business of manufacturing of Cotton hosiery
combed and slub yarns ranging from 20s to 60s counts. The company
is promoted by Mr. Karuppusamy and family and is based out of
Tirupur, Tamil Nadu.

Parani Spinning Mills Private Limited (PSM) is engaged in the
business of manufacturing of cotton hosiery combed and melange
yarns ranging from 20s to 60s counts, and is based out of Tirupur,
Tamil Nadu.


RAI BAHADUR: CRISIL Lowers Long and Short Term Debt Rating to D
---------------------------------------------------------------
CRISIL Ratings has downgraded its rating on the long-term bank
facilities of Rai Bahadur Narain Singh Sugar Mills Limited (RBNL)
to 'CRISIL D/CRISIL D Issuer Not Cooperating' from 'CRISIL C/CRISIL
A4 Issuer Not Cooperating' due to delays in servicing debt
obligation.

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Long Term Rating        -        CRISIL D (ISSUER NOT
                                    COOPERATING; Downgraded from
                                    'CRISIL C ISSUER NOT
                                    COOPERATING')

   Short Term Rating       -        CRISIL D (ISSUER NOT
                                    COOPERATING; Downgraded from
                                    'CRISIL A4 ISSUER NOT
                                    COOPERATING')

CRISIL Ratings has been consistently following up with Rai Bahadur
Narain Singh Sugar Mills Limited (RBNL) for obtaining information
through letters and emails dated May 10, 2022 and July 11, 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 RBNL, CRISIL Ratings
failed to receive any information on either the financial
performance or strategic intent of the entity; this restricts the
ability of CRISIL Ratings to take a forward-looking view on the
credit quality of RBNL. CRISIL Ratings believes that the rating
action on RBNL is consistent with 'Assessing Information Adequacy
Risk'.

Based on best-available information, CRISIL Ratings has downgraded
its rating on the long-term bank facilities of RBNL to 'CRISIL
D/CRISIL D Issuer Not Cooperating' from 'CRISIL C/CRISIL A4 Issuer
Not Cooperating' due to delays in servicing debt obligation.

RBNL was incorporated in 1932, by Shri Rai Bahadur Narain Singh and
started commercial production on 1934-35. The company has a
manufacturing capacity of 8,400 TCD of sugar with 30 MW of power
(12 MW captive usages).

Status of non cooperation with previous CRA:

RBNL did not cooperate with Credit Analysis & Research Ltd., which
classified it as 'issuer not cooperative' vide release dated
January 29, 2021. The reason provided by Credit Analysis & Research
Ltd. is non-furnishing of information for monitoring of ratings.



RAI BAHADUR: Ind-Ra Corrects January 30, 2023 Rating Release
------------------------------------------------------------
India Ratings and Research (Ind-Ra) rectified Rai Bahadur Narain
Singh Sugar Mills Limited's (RBNS) rating published on January 30,
2023 to incorporate the financial summary of the company and to
remove the no longer applicable disclosure on the provisional
ratings.

The amended version is as follows:

India Ratings and Research (Ind-Ra) has downgraded Rai Bahadur
Narain Singh Sugar Mills Limited's (RBNS) Long-Term Issuer Rating
to 'IND D' from 'IND BBB'.

The instrument-wise rating actions are:

-- INR516 mil. Term loan (Long-term) due on December 2027
     downgraded with IND D rating;

-- INR2.260 bil. Fund-based working capital limits (Long-
     term/Short-term) downgraded with IND D rating; and

-- INR244 mil. Proposed term loans (Long-term) downgraded with
     Provisional IND D rating.

The downgrade reflects RBNS' delays in debt servicing from May 2022
until August 2022, which were  regularized on August 21, 2022 as
per auditor's report.

The curing period is over and Ind-Ra is working on assessing the
ratings. The agency will reassign the ratings once the assessment
is completed.

Rating Sensitivities

Positive: Continued timely servicing of debt until the rating
assessment is completed will lead to reassignment of the ratings.

Company Profile

Incorporated in 1932, RBNS has an integrated sugar plant in
Uttarakhand having a cane crushing capacity of 8,400 tons per day,
distillery capacity of 60 kiloliters per day, and co-generation
capacity of 29.6MW. The company also has a bottling plant with a
capacity of 500 cases per day.


RCI INDUSTRIES: Ind-Ra Affirms 'D' Long Term Issuer Rating
----------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed RCI Industries &
Technologies Limited's (RCI) Long-Term Issuer Rating at 'IND D
(ISSUER NOT COOPERATING)'. The issuer did not participate in the
rating exercise despite requests and follow-ups by the agency.
Thus, the ratings are on the basis of the best available
information. Therefore, investors and other users are advised to
take appropriate caution while using these ratings. The rating will
continue to appear as 'IND D (ISSUER NOT COOPERATING)' on the
agency's website.

The instrument-wise rating actions are:

-- INR500 mil. Proposed long-term loan affirmed with IND D
     (ISSUER NOT COOPERATING) rating;

-- INR1.010 bil. Fund-based limits (long-term) affirmed with
     IND D (ISSUER NOT COOPERATING) rating;

-- INR250 mil. Proposed fund-based limits (long-term) affirmed
     with IND D (ISSUER NOT COOPERATING) rating; and

-- INR1.090 bil. Non-fund based limits (short-term) affirmed with
     IND D (ISSUER NOT COOPERATING) rating.

Note: ISSUER NOT COOPERATING: Issuer did not cooperate; based on
the best available information

Key Rating Drivers

The affirmation reflects RCI's continued delays in debt servicing.
The company has been classified as a non-performing asset by its
lenders. Ind-Ra has not been able to ascertain the reason for the
delay, as the issuer has been non-cooperative.

Rating Sensitivities

Positive: Timely debt servicing for at least three consecutive
months would lead to a positive rating action.

Company Profile

Incorporated in 1992, RCI is listed on the BSE Ltd. The company
manufactures copper wires (24,000 million tons (mt) capacity),
copper/brass strips (15,000mt capacity) and Tin solder strips/bars
(1,200mt capacity). Its items include annealed copper wire, bunched
copper wires ropes and copper ingots.


ROLTAS PAPER: CRISIL Lowers Long and Short Term Debt Rating to D
----------------------------------------------------------------
CRISIL Ratings has downgraded its ratings on the bank facilities of
Roltas Paper LLP (RPL) to 'CRISIL D/CRISIL D' from 'CRISIL
BB-/Stable/CRISIL A4+'.

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Long Term Rating        -        CRISIL D (Downgraded from
                                    'CRISIL BB-/Stable')

   Short Term Rating       -        CRISIL D (Downgraded from
                                    'CRISIL A4+')

The ratings reflect delay by RPL in servicing the equated monthly
installments (of its term loan) in the past month of December owing
to weak liquidity.

The ratings reflect the extensive experience of the partners of RPL
in the paper packaging business and their funding support, and
strategic location of plant ensuring easy access to raw material
and labour. These strengths are partially offset by average
financial risk profile and working capital-intensive operations.

Key Rating Drivers & Detailed Description

Weaknesses:

* Large working capital requirement: With 1.5 years of commercial
operations in fiscal 2022, gross current assets were sizeable at
181 days as on March 31, 2022, because of receivables of 90 days
and inventory of 70 days. This was supported by payables of 120
days as on March 31, 2022. Operations are expected to remain
working capital intensive over the medium term.

* Susceptibility of operating margin to fluctuations in raw
material prices: Operating profitability was 5.57% as on March 31,
2022. However, with stability in business operations and increase
in the prices of key raw material (paper), margin is expected to
further moderate due to partial ability to pass on variations in
raw material prices to customers. Profitability is expected to
remain range-bound over the medium term while also being a key
rating sensitivity factor.

Strengths:

* Extensive experience of the partners: Presence of over a decade
in the paper packing and other diversified businesses through group
entities has enabled the partners to understand industry dynamics
and build good relationships with customers and suppliers, thereby
continuously helping the firm in stabilizing its business
operations.

Liquidity: Poor

Bank limit utilization is high at around 92.25 percent for the past
twelve months ended November 2022. Cash accrual are expected to be
over INR1.7 crore which are insufficient against term debt
obligation of INR1.92 crore over the medium term. Current ratio are
healthy at 1.48 times on March31, 2022. The promoters are likely to
extend support in the form of equity and unsecured loans to meet
its working capital requirements and repayment obligations.

Rating Sensitivity factors

Upward factors:

* Track record of timely servicing of debt and absence of any
irregularity, for at least 3 months
* Significant improvement in liquidity.

RPL was set up in March 2020 by members of Dalsaniya, Moradiya and
Kanjiya families (Dalsaniya and Moradiya families are major
stakeholders) and started commercial operations in December 2020.
The firm manufactures kraft paper in Morbi, Gujarat.


RR METALMAKERS: CRISIL Reaffirms B Rating on INR6.5cr Cash Loan
---------------------------------------------------------------
CRISIL Ratings has reaffirmed its 'CRISIL B/Stable/CRISIL A4'
ratings on the bank facilities of RR Metalmakers India Ltd
(RRMIL).

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Cash Credit           6.5        CRISIL B/Stable (Reaffirmed)

   Inland/Import
   Letter of Credit     18.5        CRISIL A4 (Reaffirmed)

The ratings continue to reflect the company's modest scale in the
intensely competitive steel trading industry, volatile operating
margins and below-average financial risk profile. These weaknesses
are partially offset by the extensive experience of the promoters
in the steel trading business.

Analytical Approach

For arriving at its ratings, CRISIL Ratings has revised its
analytical approach and considered RRMIL on standalone basis,
earlier CRISIL Ratings has consolidated the business and financial
risk profiles of RRMIL and its subsidiary RR Life Care Pvt Ltd
(RRLCPL). The analytical approach is revised as there are no
operations in RRLCPL.

Unsecured loans from the promoters of INR 2.5 crores are treated as
debt as there is no track record of sustenance of these funds in
the business.

Key Rating Drivers & Detailed Description

Weakness:

* Intensely competitive steel trading industry and volatile
operating margins: Intense competition from a large number of
players in the steel trading business limits the bargaining power
of RRMIL, leading to modest scale of operations and volatile
operating margins as highlighted with revenue of INR 120-130 crores
and operating margin ranging between (1.35%)-5.67% over last 3
fiscals. The company has booked lower operating margins in fiscal
2022 as the operating margins have dipped from 5.67% in fiscal 2021
to 0.56% in fiscal 2022 on account of fluctuation in the raw
material prices which the company was not able to pass on to its
customers. The company has booked PAT losses.

* Below-average financial risk profile: Networth is modest at
INR5.6 crore as on March 31, 2022 which is expected to remain at
similar level in fiscal 2023 due to low profitability. Modest
capital structure have kept capital structure aggressive, as
reflected in the gearing ratio of 3.61 and total outside
liabilities to adjusted networth (TOLANW) ratio of 8.41 times as on
March 31, 2022, because of high reliance on short-term borrowings.
TOLANW ratio is estimated at similar level in fiscal 2023. Debt
protection metrics remained below average on account of modest
operating margin, indicated by interest coverage ratio of 0.32
times in fiscal 2022. With no major debt funded capex plan over the
medium term, debt protection metrics is expected to improve over
the medium term with interest cover estimated at 1 to 1.2 times in
fiscal 2023

Strengths:

* Extensive experience of the promoters: Mr. Virat Shahhave an
extensive experience of over a two decade, his strong understanding
of local market dynamics, and healthy relationships with suppliers
and customers should continue to support the business.

Liquidity: Stretched

Net cash accruals are expected to be tightly matched with debt
obligation of INR1.25 and INR1.41 crore in fiscals 2024 and 2025,
respectively. Bank limit utilisation averaged 90% over the 12
months through December 2022. Cash and bank balances were moderate
at INR 5.3 crores as on March 31, 2022. Unsecured loans from the
promoters stood at INR 2.5 crores as of March 31, 2022 and they are
willing to infuse funds as unsecured loans as and when required by
the business.

Outlook Stable

CRISIL Ratings believes that the company will continue to benefit
from its the experience of the management in mitigating risks
inherent in the trading business.

Rating Sensitivity factors

Upward factors

* Increase in revenue and operating margin leading to cash accrual
higher than INR 2 crores
* Better financial risk profile

Downward factors

* Stretch in the working capital cycle weakening the liquidity with
100% limit utilisation
* Decline in revenue or operating margin leading to fall in net
cash accrual

RRMIL (earlier Shree Surgovind Tradelink Ltd) was incorporated in
1985 in Ahmedabad and was acquired by Mr Virat Shah and family in
2015. The company trades in steel and iron ore and manufactures
steel pipes.


SD INFRA: Ind-Ra Assigns B- Long Term Issuer Rating, Outlook Stable
-------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has assigned SD Infra (SDI) a
Long-Term Issuer Rating of 'IND B-'. The Outlook is Stable.

The instrument-wise rating actions are:

-- INR300 mil. Fund-based working capital limits assigned with
     IND B-/Stable/IND A4 rating;

-- INR38.50 mil. Term loans due on November 2026 assigned with
     IND B-/Stable rating; and

-- INR600 mil. Non-fund-based limits assigned with IND A4 rating.

Key Rating Drivers

Liquidity Indicator - Poor: SDI's fund-based limits were fully
utilized, with several instances of overutilization up to 18 days,
during the 12 months ended December 2022. SDI availed a temporary
overdraft to the extent of 15% of its sanctioned limits during this
period. The average utilization of the fund-based limits was 102%
and that of the non-fund-based limits was 79.25% during the 12
months ended December. The cash flow from operations remained
negative at INR43.44 million in FY22 (FY21: negative INR64.07
million). Furthermore, the free cash flow remained negative at
INR60.32 million (FY21: negative INR99.68 million), mainly because
SDI had undertaken capex of INR16.88 million for purchasing
equipment and vehicles for order execution. The net working capital
cycle remained elongated and stretched to 192 days in FY22 (FY21:
186 days) due to delay in clearing of bills by the government. The
cash and cash equivalents stood at INR9.76 million at FYE22 (FYE21:
INR6.08 million). The firm has debt payment obligations of INR74.5
million in FY23 and INR89 million in FY24. SDI does not have any
capital market exposure and relies on banks and financial
institutions to meet its funding requirements.

The ratings reflect SDI's small scale of operations, as indicated
by revenue of INR860.89 million in FY22 (FY21: INR782.27 million).
In FY22, the revenue improved due to an increase in the number of
orders executed by the company. During 8MFY23, SDI booked revenue
of INR860 million. It had an unexecuted order book of INR5,746.97
million as of October 2022, to be executed by March 2025, providing
revenue visibility of 3x until FYE24. Ind-Ra expects the revenue to
increase on a yoy basis  in FY23, backed by the unexecuted order
book.

The ratings factor in SDI's modest EBITDA margins. The margin fell
to 13.74% in FY22 (FY21: 14.05%) due to an increase in freight
charges and other administration expenses. The ROCE was 10% in FY22
(FY21: 11%). The firm achieved a higher EBITDA margin of 18% during
8MFY23. However, Ind-Ra expects the EBITDA margin to be stable on a
yoy basis in FY23.

The ratings are constrained by the geographical concentration risk,
as SDI's projects are concentrated in Tamil Nadu, Andhra Pradesh
and Karnataka.

The ratings are supported by SDI's comfortable credit metrics. The
interest coverage (operating EBITDA/gross interest expenses)
improved to 3.73x in FY22 (FY21: 3.11x), mainly due to an
improvement in the absolute EBITDA to INR118.26 million (INR109.93
million). The net leverage (total adjusted net debt/operating
EBITDAR), however, deteriorated to 3.93x in FY22 (FY21: 2.78x)
owing to an increase in term loans to INR308.99 million (INR147.14
million) towards the end of the year. In FY23, Ind-Ra expects the
credit metrics to be stable  on account of the scheduled repayment
of term loans.

The ratings also benefit from the promoter's experience of over 15
years in the civil construction business. Furthermore, the
promoter, S. Devendiran, has longstanding relationships with
clients that include state government departments and public sector
undertakings through his proprietorship concern that has been in
the civil construction business since 2000.

Rating Sensitivities

Negative: Further deterioration in the liquidity profile and/or
deterioration in the scale of operations and credit metrics will be
negative for the ratings.

Positive: Improvement in the liquidity while maintaining the scale
of operations and the credit metrics  will be positive for the
ratings.

Company Profile

Established in 2016, SDI is a partnership firm promoted by S.
Devendiran and three other partners - his brother, AS. Nethaji, and
two sons, Balaji Devendiran and Manjunath Devendiran. It is
involved in the execution of road laying works, upgradation and
maintenance of roads as per tenders issued by the National Highways
Authority of India and state highways departments in the states of
Tamil Nadu, Karnataka and Andhra Pradesh.


SUPER CROP: CRISIL Lowers Rating on INR12cr Cash Loan to D
----------------------------------------------------------
CRISIL Rating has downgraded its rating on the long term bank
facilities of Super Crop Safe Limited (SCSL) to 'CRISIL D' from
'CRISIL B/Stable'.

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

The rating downgraded reflects delays in servicing of term debt
obligations on account of weak liquidity.

The rating reflects SCSL's average financial risk profile and weak
liquidity. These weaknesses are partially offset by the extensive
industry experience of promoters.

Key Rating Drivers & Detailed Description

Weakness:

* Delays in servicing debt obligation: Weak liquidity has led to
delay in servicing of term debt obligation in past. Furthermore,
bank lines are fully utilised in January 2023.

* Average financial risk profile: The financial risk profile is
constrained by depletion in networth to INR24.73 crore as on March
31, 2022 (INR31.17 crore a year earlier) due to reporting of
losses. The total outside liabilities to tangible networth (TOLTNW)
ratio and gearing were average at 1.32 times and 0.69 times,
respectively, as on March 31, 2022 (1.06 times and 0.51 times,
respectively, a year earlier). Debt protection metrics were weak,
as indicated by negative interest coverage of 2.86 times and
negative net cash accrual to adjusted debt ratio of 0.34 time in
fiscal 2022.

Strength:

* Extensive industry experience of the promoters: The promoters
have an experience of over 3 decades in agro chemical industry.
This has given them an understanding of the dynamics of the market
and enabled them to establish relationships with suppliers and
customers. The elders of late Mr. Nitin Patel and his son remain
fully engaged in business. Also, the company has a diversified
geographical presence in 8 states with around 2250 distributors and
over 121 product licenses.

Liquidity: Poor

Liquidity is poor as reflected in irregularities in debt servicing
by the company.

Rating Sensitivity factors

Upward factors

* Timely repayment of debt obligations continuously for at least 90
days.
* Significant improvement in liquidity on back of substantial
improvement in business risk profile

Incorporated in 1987, SCSL is engaged in the business of
manufacturing agro chemicals which include Insecticides,
Bio-Fertilizers, Weedicides, Fungicides and other chemicals. The
company is promoted by Patel Family and the manufacturing facility
is based out of Ahmedabad, Gujarat. The company was listed on the
Bombay Stock Exchange (BSE) in 1995.


UPL ENVIRONMENTAL: CRISIL Reaffirms B Rating on INR0.75cr Loan
--------------------------------------------------------------
CRISIL Ratings has reaffirmed its 'CRISIL B/Stable/CRISIL A4'
ratings to the bank facilities of UPL Environmental Engineers
Limited (UPLEEL).

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Bank Guarantee         11        CRISIL A4 (Reaffirmed)

   Cash Credit             0.25     CRISIL B/Stable (Reaffirmed)

   Proposed Fund-
   Based Bank Limits       0.75     CRISIL B/Stable (Reaffirmed)

The ratings reflect the stretched working capital cycle, modest
scale of operations and moderate networth and subdued debt
protection measures. These weaknesses are partially offset by the
strong track record of successful implementation of waste
management projects.

Analytical Approach

Unsecured loans from the promoter of INR55.63 lakhs outstanding as
on March 31, 2022 has been treated as debt.

Key Rating Drivers & Detailed Description

Weaknesses:

* Large working capital requirement: Gross current assets (GCAs)
are estimated to remain high above 1000 days in fiscal 2023 (6,501
days with INR34 crores over 180 days as on 31 March 2022), led by
stretched receivables. Delays in receipt of payments from
counterparties have led to stretch in GCA days.

* Modest scale of operations: With no new projects undertaken by
the company, operations continue to remain modest as highlighted by
revenues estimated to be around INR4-5 crores in fiscal 2023 (Rs 2
crore a year ago). UPLEEL's scale of operations are expected to
remain modest given that no new major projects will be undertaken
over medium term.


* Moderate networth and subdued debt protection measures: The
networth is estimated at over INR22-24 crore as on March 31,2023
(decrease from over INR28 crore a year ago) due to operating losses
suffered. The debt protection metrics are also expected to continue
to remain subdued in fiscal 2023 due to operating losses. The
improvement in financial risk profile will remain a key monitorable
over the medium term.

Strength:

* Track record of successful implementation of waste management
projects: UPLEEL has been engaged in solid and liquid waste
management for over 20 years, mainly catering to government
entities. It also undertakes projects through associate companies.

Liquidity: Poor

Cash losses has been reported in past few years and expected to
continue. Utilisation of bank limit of INR0.25 crore is unutilised
in the 12 months through December 2022. Need-based funding support
from the management and promoters continue to support liquidity.

Outlook: Stable

UPLEEL will continue to benefit from the promoters' fund support.

Rating Sensitivity factors

Upward factors

* Sustained increase in revenue and operating margin leading to
higher net cash accrual
* Improvement in debtor days to below 180 days
Improvement in financial risk profile with interest cover above 1.5
times.

Downward factors

* Increase in outside liabilities leading to increase in Total
outside liability to total networth (TOL/TNW) to above 2 times
Reduction in fund support from promoters and group companies,
thereby leading to further weakening of liquidity profile

Incorporated in 1994, UPLEEL undertakes turnkey projects for
managing waste water and solid/liquid waste. It also offers
operations and maintenance services for waste management
facilities. Currently the company is being managed by Mr. Santosh
Nair, Mr. Dinesh Patel and Mr. Ashok Sharma.




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

IQZAN HOLDING: Deadline to Submit Plan Extended to March 31
-----------------------------------------------------------
theedgemarkets.com reports that Iqzan Holding Bhd said Bursa
Malaysia Securities has granted the PN17 company a further
extension of four months, up to March 31, to submit its
regularisation plan to the relevant authorities.

Iqzan was given the initial extension when it applied for it on
Nov. 29, 2022, the report says.

IQZAN Holding Berhad, formerly known as Ire-Tex Corp Bhd, operates
as a holding company. The Company, through its subsidiaries,
invests in business ventures such as green packaging, environmental
friendly engineering processes, and recycled industrial material
processing, and manufacturing industries. IQZAN Holding serves
customers in Malaysia, Thailand, and Indonesia.

The company slipped into PN17 status after its external auditor
Nexia SSY PLT expressed a disclaimer of opinion on the group's
financial statements for the financial year ended June 30, 2019 in
its annual report issued on Oct. 31, 2019.




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

ANDRASSY LIMITED: Court to Hear Wind-Up Petition on March 31
------------------------------------------------------------
A petition to wind up the operations of Andrassy Limited will be
heard before the High Court at Auckland on March 31, 2023, at 10:45
a.m.

Carters Building Supplies Limited filed the petition against the
company on Dec. 16, 2022.

The Petitioner's solicitor is:

          Philip John Morris
          Stace Hammond Lawyers
          KPMG Building
          Level 7, 85 Alexandra Street
          Hamilton 3240


AUCKLAND HARDSCAPES: PKF Corporate Appointed as Liquidators
-----------------------------------------------------------
Christopher Carey McCullagh and Stephen Mark Lawrence of PKF
Corporate Recovery & Insolvency on Feb. 8, 2022, were appointed as
liquidators of Auckland Hardscapes, Kerbing Limited and Jacksco
Holdings Limited.

The liquidators may be reached at:

          Christopher Carey McCullagh
          Stephen Mark Lawrence
          PKF Corporate Recover
          PO Box 3678
          Auckland 1140


ELITE LANDSCAPE: Creditors' Proofs of Debt Due on March 14
----------------------------------------------------------
Creditors of Elite Landscape and Design Limited are required to
file their proofs of debt by March 14, 2023, to be included in the
company's dividend distribution.

The High Court at Wellington appointed Wendy Somerville and Richard
Nacey of PwC as liquidators on Feb. 7, 2023.



PARADISE COATINGS: Court to Hear Wind-Up Petition on Feb. 20
------------------------------------------------------------
A petition to wind up the operations of Paradise Coatings Limited
will be heard before the High Court at Tauranga on Feb. 20, 2023,
at 10:00 a.m.

Tauranga City Council filed the petition against the company on
Dec. 12, 2022.

The Petitioner's solicitor is:

          Charlotta Harpur
          Rice Speir
          Level 14, 23 Customs Street East
          Auckland Central



WJC BUILDING: Court to Hear Wind-Up Petition on Feb. 17
-------------------------------------------------------
A petition to wind up the operations of WJC Building Limited will
be heard before the High Court at Auckland on Feb. 17, 2023, at
10:45 a.m.

The Commissioner of Inland Revenue filed the petition against the
company on Sept. 19, 2022.

The Petitioner's solicitor is:

          Cloete Van Der Merwe
          Inland Revenue, Legal Services
          5 Osterley Way
          Manukau City
          Auckland 2104




===============
P A K I S T A N
===============

PAKISTAN: Resume Talks on Unlocking Bailout Funds, Official Says
----------------------------------------------------------------
Reuters reports that talks between the International Monetary Fund
and Pakistan resumed virtually on Feb. 13, a Pakistani official
said, as the two sides look to reach a deal to unlock funding
critical to keep the cash-strapped south Asian country afloat.

According to Reuters, the two could not reach a deal last week and
a visiting IMF delegation departed Islamabad after 10 days of
talks, but said negotiations would continue. Pakistan is in dire
need of funds as it battles a wrenching economic crisis.

"Duration (of the talks) cannot be confirmed but we intend to wrap
these up at the soonest," Finance Secretary Hamed Yaqoob Sheikh
told Reuters in a text message, confirming that talks were resuming
on Feb. 13.

Reuters relates that talks centre around reaching an agreement on a
reforms agenda under the country's $6.5 billion bailout programme,
which it entered in 2019. An agreement on the ninth review of the
programme would release over $1.1 billion.

Pakistan's international bonds slipped again on Feb. 13 after
having suffered sharp falls on Feb. 10 following news that a deal
with the fund had still to be reached, the report notes.

The dollar-denominated 2025 bond saw the biggest declines, falling
nearly 2 cents in the dollar before clawing back some losses to
trade down 1.4 cents at 48.1 cents by 0900 GMT, Reuters discloses
citing Tradeweb data.

Pakistan's foreign exchange reserves held by the central bank have
fallen to $2.9 billion, barely enough to cover three weeks of
imports. A resumption of the IMF programme would also unlock other
avenues of funding for Pakistan.

An agreement, if reached, would still need to be cleared by the IMF
board, adds Reuters.

                          About Pakistan

Pakistan is a country located in South Asia. It has a coastline
along the Arabia Sea and the Gulf of Oman and is bordered by
Afghanistan, China, India, and Iran. Pakistan's capital is
Islamabad.

As reported in the Troubled Company Reporter-Asia Pacific on Dec.
27, 2022, S&P Global Ratings lowered its long-term sovereign credit
rating on Pakistan to 'CCC+' from 'B-', and the short-term rating
to 'C' from 'B'. The outlook on the long-term rating is stable. S&P
also lowered its long-term issue rating on Pakistan's senior
unsecured notes to 'CCC+' from 'B-'.

The TCR-AP reported in October 2022, Fitch Ratings has downgraded
Pakistan's Long-Term Foreign-Currency Issuer Default Rating (IDR)
to 'CCC+' from 'B-'. Fitch typically does not assign Outlooks to
sovereigns with a rating of 'CCC+' or below.




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

CONFLUX FOUNDATION: Court to Hear Wind-Up Petition on Feb. 17
-------------------------------------------------------------
A petition to wind up the operations of Conflux Foundation Ltd will
be heard before the High Court of Singapore on Feb. 17, 2023, at
10:00 a.m.

Software X Gmbh filed the petition against the company on Oct. 13,
2022.

The Petitioner's solicitors are:

          Allen & Gledhill LLP
          1 Marina Boulevard
          #28-00, One Marina Boulevard
          Singapore 018989


DERMATOLOGY & SURGERY CLINIC: Creditors' Meetings Set for Feb. 24
-----------------------------------------------------------------
Dermatology & Surgery Clinic (Shenton) Pte Ltd and Dermatology &
Surgery Clinic Pte Ltd, which are in provisional liquidation, will
hold a meeting for its creditors on Feb. 24, 2023, at 10:30 a.m.
and 11:30 a.m., respectively, via teleconference.

Agenda of the meeting includes:

   a. to receive a statement of the Company’s affairs together
      with a list of creditors and the estimated amounts of their
      claims;

   b. to resolve that Cameron Lindsay Duncan and David Dong-Won
      Kim care of KordaMentha Pte Ltd, 16 Collyer Quay, #30-01,
      Singapore 049318 be and are hereby appointed jointly and
      severally as Liquidators of the Company for the purpose of
      such winding up and that their remuneration be based on the
      normal scale rates and be paid out of the Company assets;

   c. to appoint a Committee of Inspection of not more than five
      members, if thought fit;

   d. to resolve that the Liquidators be at liberty to open,
      maintain and operate any bank account or an account for
      monies received by them as Liquidators of the Company, with
      such bank as the Liquidators deem fit;

   e. to resolve that the Liquidators be authorised to exercise
      any of the powers provided by Section 144(1)(b), (c), (d),
      (e) and (f) of the Insolvency, Restructuring and Dissolution

      Act 2018; and

   f. Any other business.


DERMATOLOGY & SURGERY: Under Judicial Management
------------------------------------------------
The High Court of Singapore entered an order on Feb. 8, 2023, to
place Dermatology & Surgery Clinic (Orchard) Pte Ltd under judicial
management.

The company's judicial manager is David Dong-Won Kim.


LIPPO MALLS: Moody's Lowers CFR to Caa1, Outlook Remains Negative
-----------------------------------------------------------------
Moody's Investors Service has downgraded the corporate family
rating of Lippo Malls Indonesia Retail Trust (LMIRT) to Caa1 from
B3.

Moody's has also downgraded the backed senior unsecured rating on
the bonds issued by LMIRT Capital Pte. Ltd., a wholly-owned
subsidiary of LMIRT, to Caa1 from B3. The bonds are guaranteed by
the trustee of LMIRT.

The outlook on all ratings remains negative.

"The downgrade reflects Moody's view that debt restructuring is
likely to take place over the next 6 -12 months as the trust has no
concrete refinancing plans for its bank loan maturities due
November 2023 and January 2024, as well as its US dollar bond that
will mature in June 2024 amid a tight funding environment," says
Rachel Chua, a Moody's Vice President and Senior Analyst.

"The downgrade also captures Moody's expectation that LMIRT will
trip its bank loan covenants and trigger a cross default on its US
dollar bonds in the event of a depreciation of the Indonesian
rupiah against the Singapore dollar which will result in its
regulatory leverage exceeding 45%," says Chua, who is also Moody's
lead analyst for LMIRT.  

RATINGS RATIONALE

LMIRT's weak liquidity and high refinancing needs with looming debt
maturities are a pertinent credit risk, especially amid rising
inflation and higher interest rates weighing on global economic
growth.

The company has a debt maturity wall of around $400 million –
SGD217.5 million of bank loans and $250 million of US dollar bonds
– coming due over the next 12-18 months, with no concrete
refinancing plans in place at this juncture.

The company's access to banking lines is limited, despite the
recent SGD67.5 million bank loan it obtained. The bank loan was a
bridge loan through to November 2023 ahead of the US dollar bond
maturity.

The Caa1 CFR also reflects the company's unsustainable capital
structure and weak financial management.

LMIRT's interest coverage will likely stay weak at around 1.5x-1.6x
through 2023-24 and will worsen if interest rates spike further.
New bank loans in the current environment will likely lead to
weaker interest coverage as well. As of September 30, 2022, only
42.2% of the trust's debt are fixed rate.

Moody's also estimates LMIRT's adjusted leverage, as measured by
adjusted net debt/EBITDA, will improve but remain weak at around
8.0x over 2023-24 as its occupancy rate increases towards 82% in
2023 and 84% in 2024. As of September 30, 2022, its portfolio
occupancy was 80.4%.

LMIRT's debt/deposited asset ratio of 44.6% as of 31 December 2022
was almost at the regulatory limit of 45%. Moody's expects LMIRT
will likely breach the regulatory limit over the next few quarters
if the Indonesian rupiah continues to weaken against the Singapore
dollar, leading to a decline in the asset value of its Indonesian
properties in Singapore dollars.

LMIRT's Caa1 ratings reflect the trust's established presence in
Indonesia, with its portfolio spread across 12 Indonesian cities
that have large catchment populations, targeting the country's
growing middle- to upper middle-income consumers. The rating also
incorporates the trust's degree of independence as a publicly
listed and regulated trust in Singapore, despite the linkages
between LMIRT and its sponsor, Lippo Karawaci Tbk (P.T.) (B3
stable).

The negative outlook reflects LMIRT's heightened refinancing risk
in a tight funding market. It also reflects the continued
uncertainty surrounding the pace of recovery from the pandemic in
an environment of inflation and slower growth.

LMIRT's liquidity is weak. The trust had cash and cash equivalents
of SGD107 million as of September 30, 2022, an undrawn and
committed credit line of SGD23 million, and annual operating cash
flows of around SGD50 million, which are insufficient to address
its capital requirements and the SGD135 million bank loans maturing
in November 2023, SGD82.5 million due in January 2024 and the $250
million US dollar bond due June 2024. The trust will also have to
rely on external funding to address these maturities.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

Given the negative outlook, an upgrade is unlikely over the next
12-18 months. Nonetheless, Moody's could return the outlook to
stable if LMIRT's credit metrics strengthen on the back of (1) an
improvement in the operating environment or a reduction in debt;
(2) it fully addresses its refinancing needs through 2024.

Further improvement in the ratings would require the trust to
demonstrate a tenable capital structure including interest coverage
of at least 1.5x-2.0x.

On the other hand, Moody's could downgrade LMIRT's ratings if the
trust is unable to meet its interest payments or it fails to
refinance its debt maturing through 2024. An increase in secured
borrowings that result in legal subordination risk for its US
dollar bond holders will also result in a downgrade of the bond
ratings.

The principal methodology used in these ratings was REITs and Other
Commercial Real Estate Firms published in September 2022.

Lippo Malls Indonesia Retail Trust (LMIRT) is a real estate
investment trust that has been listed on the Singapore Stock
Exchange since November 2007. As of September 30, 2022, it had a
portfolio of 22 retail malls and seven retail spaces across major
cities in Indonesia, with a total appraised value of around SGD1.78
billion.

SHAKTI SHIPPING: Court to Hear Wind-Up Petition on Feb. 17
----------------------------------------------------------
A petition to wind up the operations of Shakti Shipping and Trading
Pte Ltd will be heard before the High Court of Singapore on Feb.
17, 2023, at 10:00 a.m.

Jade Alliance Pte Ltd filed the petition against the company on
Jan. 25, 2023.

The Petitioner's solicitors are:

          Messrs DennisMathiew
          7500A Beach Road
          #14-324 The Plaza
          Singapore 199591


WING WAI: Court to Hear Wind-Up Petition on Feb. 17
---------------------------------------------------
A petition to wind up the operations of Wing Wai Global Pte Ltd
will be heard before the High Court of Singapore on Feb. 17, 2023,
at 10:00 a.m.



=================
S R I   L A N K A
=================

SRILANKAN AIRLINES: Defaults on US$175 Million State-Backed Bond
----------------------------------------------------------------
Reuters reports that state-owned SriLankan Airlines has defaulted
on a $175 million bond as it was unable to meet a $6 million
interest payment due in December, its chairperson told Reuters on
Feb. 9, as the country struggles with its worst economic crisis in
decades.

The country of 22 million itself defaulted on loans last year and
is seeking $2.9 billion urgently from the International Monetary
Fund to tide over a severe shortage of dollars to buy essentials,
Reuters says.

"We will follow treasury guidelines on this. We are also engaging
with bondholders," Reuters quotes SriLankan Airlines Chairperson
Ashok Pathirage as saying.

The government-guaranteed unsecured notes are due in 2024.

According to Reuters, President Ranil Wickremesinghe told
parliament on Feb. 8 that Sri Lanka's economy was expected to grow
again from the end of this year and hoped the country would emerge
from the economic crisis by 2026.

                      About SriLankan Airlines

SriLankan Airlines is the flag carrier of Sri Lanka and a member of
the Oneworld airline alliance. It is currently the largest airline
in Sri Lanka by number of aircraft and destinations and was
launched in 1979 as Air Lanka following the termination of
operations of the original Sri Lankan flag carrier Air Ceylon.

As reported in the Troubled Company Reporter-Asia Pacific on May
31, 2022, Fitch Ratings has affirmed the rating on SriLankan
Airlines Limited's (SLA) USD175 million government-guaranteed 7%
unsecured bonds due June 25, 2024 at 'C'. The affirmation follows
the May 19, 2022 downgrade of Sri Lanka's Long-Term
Foreign-Currency Issuer Default Rating (IDR) to 'RD' from 'C', and
the downgrade of its foreign-currency bonds issued in international
markets to 'D' from 'C'.




===============
T H A I L A N D
===============

THAI AIRWAYS: CEO Foresees Early Rehabilitation Exit
----------------------------------------------------
Bangkok Post reports that Thai Airways International (THAI) will
exit rehabilitation earlier than planned and resume trading on the
Stock Exchange of Thailand in two years as operating revenue is
rising, said its new chief executive officer.

According to the report, Chai Eamsiri said on Feb. 9 that the cash
flow of the airline had risen to about THB30 billion, compared with
just THB6 billion in 2021, and it was expanding its fleet to meet
the ongoing travel recovery.

"THAI is in the position of continuously increasing its operating
revenue because the volume of air passengers is picking up," the
report quotes Mr. Chai as saying at his first news conference since
being appointed CEO on Feb. 1. With 37 years of experience in the
aviation industry, he previously served as THAI's chief financial
officer.

Revenue will grow by at least 40% this year, he said.

The national carrier entered bankruptcy protection last year to
restructure some THB400 billion worth of debt. It has since
undertaken painful cost cuts, including halving its workforce and
downsizing its fleet by about 40%.

"THAI has followed its recovery plan by reducing expenses and costs
and selling unused assets," Bangkok Post quotes Mr. Chai as saying.
"THAI's crisis has passed and it is entering an era of steadily
generating revenue for sustainable growth."

The airline has resumed flights on 65% of its pre-Covid routes and
its cabin factor was a healthy 85% last year, he added, Bangkok
Post relays.

The airline started to make an operating profit last May, and its
cash flow is at a very good level of about THB30 billion, according
to Bangkok Post.

Given the healthy cash flow, THAI will not need to borrow another
25 billion baht as earlier set out in its recovery plan, he said.

The airline would definitely exit rehabilitation sooner than late
next year as earlier planned, and could resume trading on the SET
in 2025, Mr. Chai said.

The focus now, he said, is firmly on revenue generation and better
returns from cash in hand, the report relays.

He estimated the airline earned about THB90 billion in revenue last
year and believed the figure would rise by 40% this year.

"Thai Airways' earnings will enjoy another year of excellent
growth, with the return of Chinese travellers adding to an already
hot market for air travel," Mr. Chai said, notes the report. "We
have met most conditions in the debt plan quite quickly, and now
begins our long-term growth programme that includes new plane
procurement and fleet modernisation."

THAI currently has 49 planes and aims to expand its fleet to meet
rising air transport demand, Bangkok Post says. It will take
delivery of six rented Airbus A350 jets in April and discuss
leasing three more wide-body planes within this year or early next
year, Mr. Chai said.

Bangkok Post adds that the company is also in talks with plane
makers including Boeing for "long-term" acquisitions of new
aircraft to modernise its fleet, the report added.

THAI is seeking to add about 20 twin-aisle passenger jets,
Bloomberg News reported in December. The talks with Boeing focus on
the 787-9 wide-body aircraft.

                        About Thai Airways

Thai Airways International PCL (BAK:THAI) --
http://www.thaiairways.co.th/-- is the national carrier of
Thailand.  The company provides air transportation, freight and
mail services on domestic and international routes including Asia,
Europe, North America, Africa and South West Pacific. The Company
is a state enterprise which is controlled by the government and
partly owned by the public.

As reported in Troubled Company Reporter-Asia Pacific in May 2020,
Thailand's cabinet approved a plan to restructure troubled Thai
Airways International Pcl's finances through a bankruptcy court,
the Southeast Asian country's prime minister said on May 19, 2020.

The plan for a court-led restructuring of the national carrier
replaces a previous proposal of a government-backed rescue package
that was heavily criticised in the country.

Thai Airways on May 27, 2020 said it appointed board members as
rehabilitation planners in a bankruptcy court submission.

On Sept. 14, 2020, Thailand's Central Bankruptcy Court approved
Thai Airways debt restructuring.

Thai Airways posted losses every year after 2012, except in 2016.
In 2019, it reported losses of THB12.04 billion.

The company's shareholders' equity turned negative at minus THB18.1
billion ($580 million) as of June. While its total liabilities
ballooned to THB332.1 billion, a 36.7% increase from the end of
2019, its cash and cash equivalents fell by 35.5% to THB13.9
billion, according to the Nikkei Asia.




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

[*] BOND PRICING: For the Week Feb. 6, 2023 to Feb. 10, 2023
------------------------------------------------------------

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 DEVELOPME   4.76      01/27/23      CNY      20.05
HANGZHOU FUYANG DEVELOPME   4.76      01/27/23      CNY      20.04
HANGZHOU GONGSHU DISTRICT   3.80      03/14/23      CNY      19.99
HANGZHOU GONGSHU DISTRICT   3.80      03/14/23      CNY      19.97
HANGZHOU LIANGZHU CULTURA   6.30      08/23/25      CNY      62.00
HANGZHOU LIANGZHU CULTURA   6.30      08/23/25      CNY      61.98
HANGZHOU LINPING TOURISM    5.57      10/31/25      CNY      61.25
HANGZHOU LINPING TOURISM    5.57      10/31/25      CNY      61.24
HANGZHOU METRO GROUP CO L   5.97      09/17/24      CNY      30.89
HANGZHOU QIANJIANG CBD IN   5.64      03/19/25      CNY      62.56
HANGZHOU QIANJIANG CBD IN   5.64      03/19/25      CNY      61.33
HANGZHOU WEST LAKE INVEST   4.30      04/25/23      CNY      20.03
HANGZHOU WEST LAKE INVEST   4.30      04/25/23      CNY      20.00
HANGZHOU XIAOSHAN QIANJIA   4.00      03/22/23      CNY      20.02
HANGZHOU XIAOSHAN QIANJIA   4.00      03/22/23      CNY      19.99
HANJIANG STATE-OWNED-ASSE   5.40      04/21/24      CNY      40.79
HANJIANG STATE-OWNED-ASSE   5.40      04/21/24      CNY      40.50
HANSHAN CITY CONSTRUCTION   6.20      08/30/24      CNY      40.66
HANSHAN CITY CONSTRUCTION   6.20      08/30/24      CNY      40.00
HARBIN CITY CONSTRUCTION    6.04      03/19/25      CNY      60.88
HARBIN CITY CONSTRUCTION    6.04      03/19/25      CNY      60.00
HARBIN HELI INVESTMENT HO   5.49      12/10/25      CNY      61.15
HECHI STATE-OWNED CAPITAL   4.37      11/04/23      CNY      19.98
HECHI STATE-OWNED CAPITAL   4.37      11/04/23      CNY      19.98
HEFEI CONSTRUCTION INVEST   7.20      04/29/24      CNY      31.20
HEFEI CONSTRUCTION INVEST   7.20      04/29/24      CNY      30.87
HEFEI XINCHENG STATE-OWNE   4.13      07/15/23      CNY      20.01
HEFEI XINCHENG STATE-OWNE   4.13      07/15/23      CNY      19.93
HEGANG URBAN CONSTRUCTION   6.90      12/18/24      CNY      61.20
HEGANG URBAN CONSTRUCTION   6.90      12/18/24      CNY      61.19
HENAN AIRPORT INVESTMENT    4.27      07/20/26      CNY      39.98
HENAN AIRPORT INVESTMENT    4.27      07/20/26      CNY      39.96
HENGDONG URBAN & RURAL CO   6.60      12/27/23      CNY      40.33
HENGDONG URBAN & RURAL CO   6.60      12/27/23      CNY      40.19
HENGYANG BINJIANG NEW DIS   5.47      07/27/24      CNY      41.22
HENGYANG BINJIANG NEW DIS   5.47      07/27/24      CNY      40.68
HENGYANG CITY AND URBAN C   7.80      12/14/24      CNY      60.17
HENGYANG CITY AND URBAN C   7.80      12/14/24      CNY      60.16
HENGYANG CITY AND URBAN C   7.50      09/22/24      CNY      40.02
HENGYANG CITY AND URBAN C   7.50      09/22/24      CNY      40.01
HENGYANG COMMUNICATION CO   6.98      02/02/23      CNY      50.21
HENGYANG COMMUNICATION CO   4.28      01/21/23      CNY      20.01
HENGYANG COMMUNICATION CO   4.28      01/21/23      CNY      20.00
HESHAN PUBLIC ASSET MANAG   5.08      12/07/23      CNY      40.31
HESHAN PUBLIC ASSET MANAG   5.08      12/07/23      CNY      20.08
HESHAN PUBLIC ASSET MANAG   4.08      09/28/23      CNY      20.08
HESHAN PUBLIC ASSET MANAG   4.08      09/28/23      CNY      19.88
HETIAN YUXIN STATE-OWNED    4.65      03/28/23      CNY      19.99
HETIAN YUXIN STATE-OWNED    4.65      03/28/23      CNY      19.97
HONGAN URBAN DEVELOPMENT    7.50      12/04/24      CNY      62.16
HONGAN URBAN DEVELOPMENT    7.50      12/04/24      CNY      40.00
HONGHEZHOU DEVELOPMENT IN   5.90      07/12/24      CNY      40.53
HONGHEZHOU DEVELOPMENT IN   5.90      07/12/24      CNY      38.30
HONGHU CITY HONGRUI INVES   6.30      10/13/24      CNY      40.94
HONGHU CITY HONGRUI INVES   6.30      10/13/24      CNY      40.93
HUACHEN ENERGY CO LTD       4.65      12/29/26      USD      48.13
HUAIAN CITY HUAIAN DISTRI   4.63      05/03/23      CNY      20.17
HUAIAN CITY HUAIAN DISTRI   4.63      05/03/23      CNY      20.03
HUAIAN CITY XUYI URBAN AS   5.10      04/15/23      CNY      20.01
HUAIAN CITY XUYI URBAN AS   5.10      04/15/23      CNY      19.97
HUAIAN HONGRI TRANSPORTAT   5.09      04/20/23      CNY      20.01
HUAIAN HONGRI TRANSPORTAT   5.09      04/20/23      CNY      19.94
HUAIAN HONGZE DISTRICT UR   4.37      07/18/23      CNY      19.90
HUAIAN HONGZE DISTRICT UR   4.37      07/18/23      CNY      19.83
HUAI'AN INVESTMENT HOLDIN   5.28      08/11/24      CNY      40.33
HUAI'AN INVESTMENT HOLDIN   5.28      08/11/24      CNY      40.00
HUAIAN JINHU TRAFFIC INVE   7.38      08/10/25      CNY      72.00
HUAIAN JINHU TRAFFIC INVE   7.38      08/10/25      CNY      62.37
HUAI'AN NEW CITY INVESTME   5.22      09/20/24      CNY      41.45
HUAI'AN NEW CITY INVESTME   5.22      09/20/24      CNY      40.48
HUAIAN QINGPU CITY CONSTR   6.75      09/29/24      CNY      40.90
HUAIAN QINGPU CITY CONSTR   6.75      09/29/24      CNY      39.55
HUAIHUA CITY CONSTRUCTION   4.18      08/31/23      CNY      19.78
HUAIHUA CITY CONSTRUCTION   4.18      08/31/23      CNY      19.76
HUAIHUA ECONOMIC DEVELOPM   5.77      08/07/24      CNY      40.34
HUAIHUA ECONOMIC DEVELOPM   5.77      08/07/24      CNY      39.99
HUAIHUA TRANSPORTATION CO   4.96      04/12/23      CNY      19.98
HUAIHUA TRANSPORTATION CO   4.96      04/12/23      CNY      19.94
HUAINAN INDUSTRY DEVELOPM   5.69      10/25/24      CNY      41.78
HUAINAN INDUSTRY DEVELOPM   5.69      10/25/24      CNY      40.66
HUAINAN SHAN NAN DEVELOPM   6.53      08/24/24      CNY      40.60
HUAINAN SHAN NAN DEVELOPM   6.53      08/24/24      CNY      40.00
HUAINAN URBAN CONSTRUCTIO   7.50      03/20/25      CNY      62.44
HUAINAN URBAN CONSTRUCTIO   7.50      03/20/25      CNY      60.00
HUAINAN URBAN CONSTRUCTIO   5.74      09/04/24      CNY      40.92
HUAINAN URBAN CONSTRUCTIO   5.74      09/04/24      CNY      40.68
HUANGGANG CITY CONSTRUCTI   4.08      01/18/23      CNY      20.18
HUANGGANG CITY CONSTRUCTI   4.08      01/18/23      CNY      20.03
HUANGMEI COUNTY URBAN DEV   6.68      10/18/24      CNY      40.55
HUANGMEI COUNTY URBAN DEV   6.80      10/09/24      CNY      40.06
HUANGMEI COUNTY URBAN DEV   6.68      10/18/24      CNY      40.00
HUANGMEI COUNTY URBAN DEV   6.80      10/09/24      CNY      40.00
HUANGSHAN CHENGTOU GROUP    6.74      04/27/25      CNY      61.68
HUANGSHAN CHENGTOU GROUP    6.74      04/27/25      CNY      60.00
HUANGSHI CIHU HIGH-TECH D   4.50      06/08/23      CNY      23.00
HUANGSHI CIHU HIGH-TECH D   4.97      06/08/23      CNY      20.01
HUANGSHI CIHU HIGH-TECH D   4.50      06/08/23      CNY      19.96
HUANGSHI CIHU HIGH-TECH D   4.97      06/08/23      CNY      19.94
HUANGSHI ZHONGBANG CITY R   5.95      06/02/24      CNY      41.67
HUANGSHI ZHONGBANG CITY R   5.95      06/02/24      CNY      40.43
HUBEI PROVINCIAL COMMUNIC   5.29      06/05/25      CNY      60.81
HUBEI SONGZI JINSONG INVE   6.60      06/21/24      CNY      40.64
HUBEI SONGZI JINSONG INVE   6.60      06/21/24      CNY      40.63
HUBEI SUPPLY AND MARKETIN   6.70      08/23/24      CNY      40.80
HUBEI SUPPLY AND MARKETIN   6.70      08/23/24      CNY      39.88
HUBEI YILING ECONOMIC DEV   6.45      09/05/24      CNY      40.37
HUBEI YILING ECONOMIC DEV   6.45      09/05/24      CNY      40.00
HULUDAO INVESTMENT GROUP    7.50      10/18/23      CNY      15.24
HULUDAO INVESTMENT GROUP    7.50      10/18/23      CNY      15.19
HUNAN CHUZHISHENG HOLDING   5.60      12/18/22      CNY      20.00
HUNAN CHUZHISHENG HOLDING   5.60      12/18/22      CNY      20.00
HUNAN DESHAN CONSTRUCTION   6.46      09/14/24      CNY      40.73
HUNAN DESHAN CONSTRUCTION   6.46      09/14/24      CNY      39.56
HUNAN JINYANG INVESTMENT    4.39      04/06/23      CNY      20.02
HUNAN JINYANG INVESTMENT    4.37      01/19/23      CNY      20.01
HUNAN JINYANG INVESTMENT    4.37      01/19/23      CNY      19.98
HUNAN JINYANG INVESTMENT    4.39      04/06/23      CNY      19.93
HUNAN LINGANG DEVELOPMENT   4.24      07/21/23      CNY      19.83
HUNAN LINGANG DEVELOPMENT   4.24      07/21/23      CNY      19.80
HUNAN LINGANG DEVELOPMENT   3.94      10/26/23      CNY      19.74
HUNAN LINGANG DEVELOPMENT   3.94      10/26/23      CNY      19.69
HUNAN LOUDI ECONOMIC & TE   4.89      03/30/23      CNY      20.00
HUNAN LOUDI ECONOMIC & TE   4.89      03/30/23      CNY      19.74
HUNAN PROVINCIAL RAILWAY    6.09      04/30/25      CNY      46.49
HUNAN PROVINCIAL RAILWAY    6.09      04/30/25      CNY      45.00
HUNAN SENTE INDUSTRIAL IN   6.90      11/28/24      CNY      41.09
HUNAN SENTE INDUSTRIAL IN   6.90      11/28/24      CNY      20.00
HUNAN SHAODONG ECO-INDUST   6.58      12/13/23      CNY      40.33
HUNAN SHAODONG ECO-INDUST   6.58      12/13/23      CNY      20.30
HUNAN TIANYI RONGTONG CHU   8.00      10/24/25      CNY      64.60
HUNAN TIANYI RONGTONG CHU   8.00      10/24/25      CNY      63.23
HUNAN TIANYI RONGTONG CHU   7.50      09/17/25      CNY      62.54
HUNAN TIANYI RONGTONG CHU   7.50      09/17/25      CNY      60.00
HUNAN TIER GROUP CO LTD     4.20      03/17/23      CNY      19.72
HUNAN TIER GROUP CO LTD     4.20      03/17/23      CNY      19.69
HUNAN YOUZHOU INVESTMENT    4.80      07/07/23      CNY      20.00
HUNAN YOUZHOU INVESTMENT    4.80      07/07/23      CNY      20.00
HUNAN ZHIGU INVESTMENT DE   5.80      07/28/24      CNY      40.34
HUNAN ZHIGU INVESTMENT DE   5.80      07/28/24      CNY      40.00
HUZHOU CITY INVESTMENT DE   6.39      09/25/25      CNY      62.63
HUZHOU NEW CITY INVESTMEN   6.60      05/28/23      CNY      71.11
HUZHOU NEW CITY INVESTMEN   7.20      01/21/23      CNY      71.06
HUZHOU NEW CITY INVESTMEN   7.50      11/23/24      CNY      41.69
HUZHOU NEW CITY INVESTMEN   7.50      11/23/24      CNY      40.50
HUZHOU WUXING NANTAIHU CO   7.90      09/20/25      CNY      61.94
JIAHE ZHUDU DEVELOPMENT G   7.50      03/13/25      CNY      61.28
JIAHE ZHUDU DEVELOPMENT G   7.50      03/13/25      CNY      60.00
JIAHE ZHUDU DEVELOPMENT G   6.50      05/25/24      CNY      40.60
JIAHE ZHUDU DEVELOPMENT G   6.50      05/25/24      CNY      40.40
JIAN CITY JINGANGSHAN DEV   4.87      01/27/23      CNY      20.00
JIAN CITY JINGANGSHAN DEV   4.87      01/27/23      CNY      19.94
JIANAN INVESTMENT HOLDING   3.50      09/05/23      CNY      20.10
JIANAN INVESTMENT HOLDING   3.85      09/05/23      CNY      20.07
JIANAN INVESTMENT HOLDING   4.30      03/08/23      CNY      20.04
JIANAN INVESTMENT HOLDING   4.30      03/08/23      CNY      19.97
JIANAN INVESTMENT HOLDING   3.85      09/05/23      CNY      19.92
JIANAN INVESTMENT HOLDING   3.50      09/05/23      CNY      19.86
JIANDE STATE-OWNED ASSETS   6.69      11/20/24      CNY      41.00
JIANGSU BEIGU INDUSTRIAL    5.80      06/20/23      CNY      20.09
JIANGSU BEIGU INDUSTRIAL    5.80      06/20/23      CNY      20.07
JIANGSU DAHANG LINGANG IN   5.18      09/22/23      CNY      20.06
JIANGSU DAHANG LINGANG IN   5.18      09/22/23      CNY      20.05
JIANGSU GAOCHUN ECONOMIC    5.66      06/26/24      CNY      40.53
JIANGSU GAOCHUN ECONOMIC    6.08      08/14/24      CNY      40.48
JIANGSU GAOCHUN ECONOMIC    5.66      06/26/24      CNY      40.42
JIANGSU GAOCHUN ECONOMIC    6.08      08/14/24      CNY      39.57
JIANGSU GAOCHUN ECONOMIC    3.67      09/23/23      CNY      20.02
JIANGSU GAOCHUN ECONOMIC    3.92      11/23/23      CNY      19.99
JIANGSU GAOCHUN ECONOMIC    3.67      09/23/23      CNY      19.89
JIANGSU GAOCHUN ECONOMIC    3.92      11/23/23      CNY      19.88
JIANGSU HAIYI HOLDING GRO   5.98      09/11/25      CNY      66.48
JIANGSU HAIYI HOLDING GRO   5.98      09/11/25      CNY      61.07
JIANGSU HAIZHOU DEVELOPME   4.67      06/06/23      CNY      19.89
JIANGSU HAIZHOU DEVELOPME   4.67      06/06/23      CNY      19.80
JIANGSU HAIZHOUWAN DEVELO   4.89      03/29/23      CNY      15.00
JIANGSU HANRUI INVESTMENT   4.63      04/15/23      CNY      20.02
JIANGSU HANRUI INVESTMENT   4.63      04/15/23      CNY      20.00
JIANGSU HANRUI INVESTMENT   5.00      08/31/23      CNY      19.88
JIANGSU HANRUI INVESTMENT   5.00      08/31/23      CNY      19.87
JIANGSU HONGZE LAKE SHENZ   6.50      08/01/24      CNY      40.04
JIANGSU JINHUI GROUP CO L   5.16      07/14/24      CNY      41.50
JIANGSU JINHUI GROUP CO L   5.16      07/14/24      CNY      40.54
JIANGSU JINTAN GUOFA INTE   4.60      08/22/23      CNY      19.98
JIANGSU JINTAN GUOFA INTE   4.60      08/22/23      CNY      19.93
JIANGSU KAIYUAN INVESTMEN   7.08      08/03/24      CNY      40.93
JIANGSU KAIYUAN INVESTMEN   7.08      08/03/24      CNY      38.62
JIANGSU LIYANG HIGH-TECH    5.70      08/30/24      CNY      41.60
JIANGSU LIYANG HIGH-TECH    5.70      08/30/24      CNY      40.46
JIANGSU QISHENG GROUP CO    4.00      03/18/23      CNY      19.99
JIANGSU RUNCHENG ASSET OP   5.65      04/19/24      CNY      40.46
JIANGSU YANGKOU PORT CONS   7.60      08/17/25      CNY      62.85
JIANGSU YANGKOU PORT CONS   7.60      08/17/25      CNY      62.50
JIANGSU YANGKOU PORT CONS   7.38      04/03/25      CNY      62.50
JIANGSU YANGKOU PORT CONS   7.38      04/03/25      CNY      62.21
JIANGSU YINGZHOU DEVELOPM   4.33      09/21/23      CNY      19.77
JIANGSU YINGZHOU DEVELOPM   4.33      09/21/23      CNY      19.52
JIANGSU YIXING ENVIRONMEN   4.08      09/14/23      CNY      20.02
JIANGSU YIXING ENVIRONMEN   4.08      09/14/23      CNY      19.89
JIANGSU ZHONGAN CONSTRUCT   5.65      03/24/24      CNY      41.70
JIANGSU ZHONGAN CONSTRUCT   5.65      03/24/24      CNY      40.61
JIANGSU ZHUFU 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 STATE-OWNED   7.79      11/13/24      CNY      41.36
PUYANG INVESTMENT GROUP C   5.18      08/17/24      CNY      40.36
PUYANG INVESTMENT GROUP C   5.18      08/17/24      CNY      40.36
QIANDONGNAN TRANSPORTATIO   5.79      12/21/22      CNY      20.00
QIANDONGNAN TRANSPORTATIO   5.79      12/21/22      CNY      19.97
QIANDONGNANZHOU KAIHONG C   5.30      09/22/26      CNY      48.86
QIANDONGNANZHOU KAIHONG C   5.30      09/22/26      CNY      47.12
QIANJIANG URBAN CONSTRUCT   5.19      12/21/22      CNY      20.01
QIANJIANG URBAN CONSTRUCT   5.19      12/21/22      CNY      20.00
QIANNAN AUTONOMOUS PREFEC   6.99      04/19/24      CNY      38.89
QIANNAN AUTONOMOUS PREFEC   6.99      04/19/24      CNY      38.89
QIANNAN AUTONOMOUS PREFEC   6.98      07/06/24      CNY      38.66
QIANNAN AUTONOMOUS PREFEC   6.98      07/06/24      CNY      38.65
QIANNANZHOU INVESTMENT CO   8.00      01/02/26      CNY      69.80
QIANNANZHOU INVESTMENT CO   6.77      07/28/24      CNY      40.77
QIANSHAN CITY QIANRUN INV   6.98      01/19/25      CNY      61.66
QIANSHAN CITY QIANRUN INV   6.98      01/19/25      CNY      60.00
QIANXINAN AUTONOMOUS REGI   5.90      06/22/23      CNY      20.10
QIANXINAN AUTONOMOUS REGI   5.90      06/22/23      CNY      19.82
QICHUN COUNTY CONSTRUCTIO   4.96      10/18/23      CNY      20.08
QICHUN COUNTY CONSTRUCTIO   4.96      10/18/23      CNY      19.97
QIDONG STATE-OWNED ASSET    4.00      03/09/23      CNY      20.19
QIDONG STATE-OWNED ASSET    4.00      03/09/23      CNY      19.98
QIDONG URBAN CONSTRUCTION   5.25      08/16/24      CNY      41.00
QIDONG URBAN CONSTRUCTION   5.25      08/16/24      CNY      40.48
QIHE CITY OPERATION CONST   5.10      03/07/23      CNY      20.01
QIHE CITY OPERATION CONST   5.10      03/07/23      CNY      19.83
QINGDAO CHANGYANG INVESTM   3.73      09/12/23      CNY      19.79
QINGDAO CHANGYANG INVESTM   3.73      09/12/23      CNY      19.70
QINGDAO CHINA PROSPERITY    6.08      11/05/25      CNY      61.72
QINGDAO CONSON DEVELOPMEN   6.40      12/12/22      CNY      15.07
QINGDAO CONSON DEVELOPMEN   6.40      12/12/22      CNY      15.00
QINGDAO HAIFA STATE-OWNED   6.28      04/04/25      CNY      65.25
QINGDAO HAIFA STATE-OWNED   6.28      04/04/25      CNY      61.41
QINGDAO HAIFA STATE-OWNED   4.26      06/06/23      CNY      20.09
QINGDAO HAIFA STATE-OWNED   4.26      06/06/23      CNY      19.95
QINGDAO JIMO DISTRICT URB   6.27      10/15/25      CNY      61.68
QINGDAO JIMO DISTRICT URB   6.27      10/15/25      CNY      60.00
QINGDAO JIMO DISTRICT URB   5.35      07/10/24      CNY      41.20
QINGDAO JIMO DISTRICT URB   5.35      07/10/24      CNY      40.34
QINGDAO OCEAN 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 GONGXIN STATE-OWN   5.00      07/13/26      CNY      58.44
WEIFANG GONGXIN STATE-OWN   5.00      07/13/26      CNY      57.87
WEIHAI CENTRAL CITY STATE   6.05      11/02/24      CNY      40.00
WEIHAI CENTRAL CITY STATE   6.05      11/02/24      CNY      39.98
WEIHAI CITY SHUANGDAO BAY   5.32      04/28/24      CNY      40.38
WEIHAI ECONOMIC TECHNOLOG   5.80      08/23/24      CNY      40.44
WEIHAI ECONOMIC TECHNOLOG   5.80      08/23/24      CNY      40.00
WEIHAI LANCHUANG CONSTRUC   7.70      10/11/25      CNY      58.00
WEIHAI LANCHUANG CONSTRUC   4.80      12/17/22      CNY      19.99
WEIHAI LANCHUANG CONSTRUC   4.80      12/17/22      CNY      19.39
WEIHAI URBAN CONSTRUCTION   3.33      03/02/23      CNY      20.05
WEIHAI URBAN CONSTRUCTION   3.33      03/02/23      CNY      19.95
WEIHAI WENDENG DISTRICT B   3.64      10/26/23      CNY      19.82
WEIHAI WENDENG DISTRICT B   3.64      10/26/23      CNY      19.63
WEIHAI WENDENG URBAN PROP   7.70      05/02/28      CNY      74.43
WEIHAI WENDENG URBAN PROP   4.80      05/26/23      CNY      19.99
WEIHAI WENDENG URBAN PROP   4.80      05/26/23      CNY      19.60
WENDENG GOLDEN BEACH INVE   3.97      03/21/23      CNY      19.94
WENDENG GOLDEN BEACH INVE   3.97      03/21/23      CNY      19.87
WENLING CITY STATE OWNED    5.43      11/12/25      CNY      63.20
WENLING CITY STATE OWNED    5.73      04/19/25      CNY      62.80
WENLING CITY STATE OWNED    5.43      11/12/25      CNY      61.29
WENLING CITY STATE OWNED    5.73      04/19/25      CNY      61.03
WENS FOODSTUFFS GROUP CO    3.26      10/29/30      USD      71.31
WENSHAN URBAN CONSTRUCTIO   4.50      09/13/23      CNY      19.95
WENSHAN URBAN CONSTRUCTIO   4.50      09/13/23      CNY      19.14
WENZHOU CITY CONSTRUCTION   5.00      04/26/23      CNY      20.17
WENZHOU CITY CONSTRUCTION   5.00      04/26/23      CNY      20.03
WENZHOU CITY CONSTRUCTION   4.05      01/25/23      CNY      20.02
WENZHOU CITY CONSTRUCTION   4.05      01/25/23      CNY      19.99
WENZHOU GANGCHENG DEVELOP   5.19      03/29/23      CNY      20.06
WENZHOU GANGCHENG DEVELOP   5.19      03/29/23      CNY      20.00
WENZHOU HIGH-TECH INDUSTR   5.90      09/18/24      CNY      41.50
WENZHOU HIGH-TECH INDUSTR   5.90      09/18/24      CNY      40.42
WENZHOU MINKE INDUSTRIAL    6.44      07/18/24      CNY      40.47
WENZHOU MINKE INDUSTRIAL    6.44      07/18/24      CNY      40.00
WENZHOU OUHAI NEW CITY CO   3.98      10/26/23      CNY      19.89
WENZHOU OUHAI NEW CITY CO   3.98      10/26/23      CNY      19.82
WINTIME ENERGY CO LTD       4.75      07/07/22      CNY      43.63
WINTIME ENERGY CO LTD       7.50      04/04/21      CNY      43.63
WINTIME ENERGY CO LTD       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 CONSTRUCTION    4.99      06/15/24      CNY      50.00
WUHU COMMUNICATIONS INVES   4.50      04/28/23      CNY      20.07
WUHU COMMUNICATIONS INVES   3.58      09/23/23      CNY      20.05
WUHU COMMUNICATIONS INVES   4.50      04/28/23      CNY      19.98
WUHU COMMUNICATIONS INVES   3.58      09/23/23      CNY      19.82
WUHU JINGHU CONSTRUCTION    4.37      07/20/23      CNY      20.07
WUHU JINGHU CONSTRUCTION    4.37      07/20/23      CNY      19.95
WUHU JIUJIANG CONSTRUCTIO   3.96      03/21/23      CNY      20.17
WUHU JIUJIANG CONSTRUCTIO   3.96      03/21/23      CNY      19.96
WUSHENG CITY INVESTMENT C   7.05      11/03/24      CNY      41.12
WUSHENG CITY INVESTMENT C   7.05      11/03/24      CNY      40.00
WUSU CITY XINGRONG CONSTR   7.50      10/25/25      CNY      63.47
WUSU CITY XINGRONG CONSTR   7.50      10/25/25      CNY      60.00
WUXI EAST SCIENCE & TECHN   5.73      09/14/24      CNY      40.75
WUXI EAST SCIENCE & TECHN   5.73      09/14/24      CNY      40.00
WUXI FOOD SCIENCE PARK DE   5.70      09/28/24      CNY      41.30
WUXI FOOD SCIENCE PARK DE   5.70      09/28/24      CNY      40.66
WUXI HUIJI INDUSTRY DEVEL   5.27      12/07/25      CNY      63.05
WUXI HUIJI INDUSTRY DEVEL   5.27      12/07/25      CNY      60.98
WUXI HUIKAI ECONOMIC DEVE   4.16      04/08/23      CNY      19.95
WUXI HUIKAI ECONOMIC DEVE   4.16      04/08/23      CNY      19.83
WUXI TAIHU NEW CITY DEVEL   3.47      08/29/23      CNY      23.00
WUXI TAIHU NEW CITY DEVEL   4.49      05/03/23      CNY      20.10
WUXI TAIHU NEW CITY DEVEL   3.47      08/29/23      CNY      19.89
WUXI XIDONG NEW TOWN CONS   3.92      11/09/23      CNY      20.04
WUXI XIDONG NEW TOWN CONS   3.92      11/09/23      CNY      19.88
WUYANG CONSTRUCTION GROUP   7.80      09/11/20      CNY      32.48
XIAMEN ZHONGJUN INDUSTRIA   5.50      07/01/24      CNY      65.00
XIAN FENGDONG DEVELOPMENT   4.67      01/08/23      CNY      20.01
XIAN FENGDONG DEVELOPMENT   4.67      01/08/23      CNY      19.99
XIAN HIGH-TECH ZONE CAOTA   6.49      04/25/25      CNY      61.69
XI'AN HI-TECH HOLDING CO    5.87      06/26/25      CNY      62.50
XI'AN HI-TECH HOLDING CO    6.12      12/27/24      CNY      60.59
XI'AN HI-TECH HOLDING CO    5.87      06/26/25      CNY      60.55
XI'AN HI-TECH HOLDING CO    6.12      12/27/24      CNY      60.45
XI'AN PIONEERING PARK DEV   6.20      05/02/24      CNY      40.50
XI'AN PIONEERING PARK DEV   6.20      05/02/24      CNY      40.49
XIANGCHENG LINGWU URBAN D   7.45      11/10/24      CNY      40.34
XIANGCHENG LINGWU URBAN D   7.45      11/10/24      CNY      40.00
XIANGSHUI GUANJIANG HOLDI   4.98      12/24/22      CNY      19.99
XIANGSHUI 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 STATE-OWNED CAP   6.10      07/19/24      CNY      40.34
XIANGYANG STATE-OWNED CAP   6.10      07/19/24      CNY      40.00
XIANGYANG STATE-OWNED CAP   4.62      01/25/23      CNY      19.98
XIANGYANG STATE-OWNED CAP   4.62      01/25/23      CNY      19.98
XIANNING CITY CONSTRUCTIO   5.99      07/27/27      CNY      71.84
XIANNING CITY CONSTRUCTIO   5.99      07/27/27      CNY      70.00
XIANNING HIGH-TECH INVEST   6.60      06/01/27      CNY      56.57
XIANNING HIGH-TECH INVEST   6.60      06/01/27      CNY      56.56
XIANTAO CITY CONSTRUCTION   4.59      04/18/23      CNY      20.10
XIANTAO CITY CONSTRUCTION   4.59      04/18/23      CNY      19.99
XIAOCHANG SHUNHE DEVELOPM   4.15      10/17/23      CNY      19.78
XIAOGAN URBAN CONSTRUCTIO   6.35      11/10/27      CNY      73.70
XIAOGAN URBAN CONSTRUCTIO   6.35      11/10/27      CNY      70.00
XIAOXIAN COUNTY DEVELOPME   4.85      06/22/23      CNY      20.10
XIAOXIAN COUNTY DEVELOPME   4.85      06/22/23      CNY      19.99
XINDONGGANG HOLDING GROUP   5.53      04/27/23      CNY      20.04
XINDONGGANG HOLDING GROUP   5.53      04/27/23      CNY      20.00
XINFENG COUNTY URBAN CONS   7.80      12/05/25      CNY      61.21
XINFENG COUNTY URBAN CONS   7.80      12/05/25      CNY      60.00
XINGAN COUNTY URBAN CONST   5.48      08/03/23      CNY      20.08
XINGAN 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
YICHANG WUJIA NEW CITY IN   6.50      04/20/24      CNY      40.53
YICHANG WUJIA NEW CITY IN   6.50      04/20/24      CNY      40.47
YIHUA LIFESTYLE TECHNOLOG   6.88      07/16/20      CNY      35.90
YIHUA LIFESTYLE TECHNOLOG   6.88      07/23/20      CNY      35.00
YINGCHENG CITY PUYANG DEV   6.50      04/14/24      CNY      40.51
YINGCHENG CITY PUYANG DEV   6.50      04/14/24      CNY      40.28
YINGKOU BEIHAI NEW CITY D   7.98      01/25/25      CNY      61.92
YINGKOU BEIHAI NEW CITY D   7.98      01/25/25      CNY      60.00
YINGKOU BEIHAI NEW CITY D   7.19      07/12/24      CNY      40.89
YINGKOU BEIHAI NEW CITY D   7.19      07/12/24      CNY      40.11
YINGKOU ECO & TECH DEVELO   6.98      04/19/24      CNY      40.42
YINGKOU ECO & TECH DEVELO   6.98      04/19/24      CNY      40.41
YINGKOU ECO & TECH DEVELO   5.20      08/05/23      CNY      19.95
YINGKOU ECO & TECH DEVELO   5.20      08/05/23      CNY      19.92
YINGKOU LAOBIAN CITY CONS   4.98      03/11/23      CNY      20.00
YINGKOU LAOBIAN CITY CONS   4.98      03/11/23      CNY      20.00
YINGTAN STATE-OWNED ASSET   7.50      12/12/22      CNY      15.00
YINGTAN STATE-OWNED ASSET   7.50      12/12/22      CNY      15.00
YIWU CITY CONSTRUCTION IN   5.48      08/18/24      CNY      40.80
YIWU CITY CONSTRUCTION IN   5.48      08/18/24      CNY      40.00
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
YONGCHENG COAL & ELECTRIC   7.50      02/02/21      CNY      39.88
YONGXING YINDU INVESTMENT   6.93      07/07/24      CNY      40.64
YONGXING YINDU INVESTMENT   6.50      08/14/24      CNY      40.04
YONGXING YINDU INVESTMENT   6.93      07/07/24      CNY      40.00
YONGXING YINDU INVESTMENT   6.50      08/14/24      CNY      38.60
YONGXING YINDU INVESTMENT   5.60      03/24/23      CNY      20.03
YONGXING YINDU INVESTMENT   5.60      03/24/23      CNY      20.02
YONGXIU CITY CONSTRUCTION   7.50      05/02/25      CNY      62.04
YONGXIU CITY CONSTRUCTION   7.80      08/27/25      CNY      61.53
YONGXIU CITY CONSTRUCTION   7.80      08/27/25      CNY      61.09
YONGXIU CITY CONSTRUCTION   7.50      05/02/25      CNY      60.00
YOUYANG COUNTY TAOHUAYUAN   7.50      09/28/25      CNY      62.66
YOUYANG COUNTY TAOHUAYUAN   7.50      09/28/25      CNY      57.00
YUANAN COUNTY QIFENG CITY   5.50      05/27/23      CNY      20.10
YUANAN COUNTY QIFENG CITY   5.50      05/27/23      CNY      20.10
YUANLING CHENZHOU INVESTM   6.50      11/30/24      CNY      40.89
YUANLING CHENZHOU INVESTM   6.50      09/20/24      CNY      40.76
YUANLING CHENZHOU INVESTM   6.50      11/30/24      CNY      40.00
YUANLING CHENZHOU INVESTM   6.50      09/20/24      CNY      40.00
YUDU ZHENXING INVESTMENT    7.50      05/03/25      CNY      60.95
YUDU ZHENXING INVESTMENT    7.50      05/03/25      CNY      60.49
YUEYANG HUIHUA URBAN INVE   5.96      07/26/24      CNY      40.55
YUEYANG HUIHUA URBAN INVE   5.96      07/26/24      CNY      40.26
YUEYANG HUIHUA URBAN INVE   5.78      04/18/24      CNY      40.17
YUEYANG HUIHUA URBAN INVE   5.78      04/18/24      CNY      40.11
YUEYANG URBAN CONSTRUCTIO   4.80      01/27/26      CNY      60.90
YUEYANG URBAN CONSTRUCTIO   4.80      01/27/26      CNY      60.57
YUEYANG YUNXI CITY CONSTR   6.00      07/08/23      CNY      19.84
YUEYANG YUNXI CITY CONSTR   5.18      11/21/23      CNY      19.49
YUHUAN CITY CONSTRUCTION    5.10      05/03/23      CNY      20.02
YUHUAN CITY CONSTRUCTION    5.10      05/03/23      CNY      20.01
YUHUAN CITY CONSTRUCTION    3.72      10/21/23      CNY      19.89
YUHUAN CITY CONSTRUCTION    3.72      10/21/23      CNY      19.79
YUHUAN COUNTY STATE-OWNED   6.45      11/23/25      CNY      63.34
YUNCHENG SHUIHU CITY CONS   4.54      11/21/23      CNY      19.94
YUNCHENG SHUIHU CITY CONS   4.54      11/21/23      CNY      19.18
YUNCHENG URBAN CONSTRUCTI   6.30      08/29/24      CNY      40.15
YUNCHENG URBAN CONSTRUCTI   6.30      08/29/24      CNY      39.04
YUNYANG RENHE INVESTMENT    7.49      05/04/25      CNY      62.46
YUNYANG RENHE INVESTMENT    7.49      05/04/25      CNY      60.62
YUZHOU 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
JAPAN EXPRESSWAY HOLDING    0.84      03/19/58      JPY      70.23
JAPAN EXPRESSWAY HOLDING    0.88      03/19/59      JPY      70.20
JAPAN EXPRESSWAY HOLDING    0.44      10/31/59      JPY      69.92
JAPAN EXPRESSWAY HOLDING    0.43      02/27/60      JPY      69.43
JAPAN EXPRESSWAY HOLDING    0.30      06/30/56      JPY      68.39
JAPAN EXPRESSWAY HOLDING    0.83      03/19/59      JPY      67.74
JAPAN EXPRESSWAY HOLDING    0.35      08/29/59      JPY      67.42
JAPAN FINANCE ORGANIZATIO   0.50      05/29/51      JPY      74.67
JAPAN FINANCE ORGANIZATIO   0.75      09/28/60      JPY      74.14
JAPAN FINANCE ORGANIZATIO   0.54      10/31/53      JPY      73.31
JAPAN FINANCE ORGANIZATIO   0.53      10/28/53      JPY      73.04
JAPAN FINANCE ORGANIZATIO   0.53      10/24/53      JPY      73.03
JAPAN FINANCE ORGANIZATIO   0.58      03/26/55      JPY      72.89
JAPAN FINANCE ORGANIZATIO   0.65      01/28/60      JPY      71.55
JAPAN FINANCE ORGANIZATIO   0.63      04/28/60      JPY      70.75
JAPAN FINANCE ORGANIZATIO   0.63      04/23/60      JPY      70.74
JAPAN FINANCE ORGANIZATIO   0.63      04/30/60      JPY      70.69
JAPAN FINANCE ORGANIZATIO   0.63      04/28/60      JPY      70.62
JAPAN FINANCE ORGANIZATIO   0.49      07/28/56      JPY      69.52
JAPAN FINANCE ORGANIZATIO   2.00      11/27/35      AUD      66.06
JAPAN 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



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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 2023.  All rights reserved.  ISSN: 1520-9482.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding,
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Information contained herein is obtained from sources believed
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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
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