/raid1/www/Hosts/bankrupt/TCRAP

/raid1/www/Hosts/bankrupt/TCRAP_Public/230711.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, July 11, 2023, Vol. 26, No. 138 Headlines A U S T R A L I A CASSEGRAIN WINES: Second Creditors' Meeting Set for July 14 COMO HOMES: Court to Decide on Possible Liquidation on July 12 DAASCON PTY: First Creditors' Meeting Set for July 14 INCLING PTY: First Creditors' Meeting Set for July 17 INTENSIVE EVENTS: Cor Cordis Appointed as Liquidators JNC CONSTRUCTION: Second Creditors' Meeting Set for July 14 REDS TRUST 2023-1: S&P Assigns Prelim BB(sf) Rating to Cl E Notes SJB NO 2: Second Creditors' Meeting Set for July 14 VIRAL VENTURES: Karen's Diner Owes Hobart Restaurant AUD6,000 C H I N A DEER INVESTMENT: Fitch Cuts Long Term IDR to 'B-'; Outlook Stable KAISA GROUP: Faces Wind Up Petition in Hong Kong SINGULATO MOTORS: To Face Bankruptcy Proceeding Procedure [*] CHINA: Banks Bear Brunt of Concerns Around Growth and Debt I N D I A AAJ KA: CRISIL Keeps D Debt Ratings in Not Cooperating Category AANANDA LAKSHMI: CRISIL Keeps D Debt Ratings in Not Cooperating CMJ BREWERIES: CRISIL Keeps D Debt Rating in Not Cooperating COCHIN BRIDGE: ICRA Keeps D Debt Rating in Not Cooperating EAST HYDERABAD: ICRA Keeps D Debt Rating in Not Cooperating FASHIONS LIMITED: CARE Keeps D Debt Ratings in Not Cooperating FIBREMARX PAPERS: CARE Keeps D Debt Ratings in Not Cooperating FUTURE CONSUMER: CARE Moves D Debt Ratings to Not Cooperating GILLCO DEVELOPERS: ICRA Keeps D Debt Ratings in Not Cooperating GLUHEND INDIA: CARE Lowers Rating on INR263cr NCD to D GO FIRST: Seeks Investor Interest as Part of Insolvency Process HIRAMAN DEVELOPERS: ICRA Keeps D Debt Rating in Not Cooperating IREO PRIVATE: ICRA Keeps D Debt Ratings in Not Cooperating KREYA INFRATECH: CARE Keeps D Debt Ratings in Not Cooperating MEGHA GRANULES: CRISIL Keeps D Debt Ratings in Not Cooperating ORIENT GREEN: ICRA Withdraws D Rating on INR26.79cr Term Loan POLO HOTELS: CRISIL Keeps D Debt Rating in Not Cooperating PTG TECHNOPAK: ICRA Keeps B+ Debt Ratings in Not Cooperating RIDDHI SIDDHI: ICRA Reaffirms B+ Rating on INR13cr LT Loan S.R INDUSTRIES: CRISIL Keeps D Debt Ratings in Not Cooperating SANGAM HEALTH: CRISIL Keeps D Debt Ratings in Not Cooperating SHAARC PROJECTS: ICRA Lowers Rating on INR8.0cr ST Loan to D SHUBHI AGRO: CRISIL Keeps D Debt Ratings in Not Cooperating SIVA SAI: CARE Assigns D Rating to INR46cr LT/ST Bank Debts SURYAVANSHI SPINNING: CRISIL Keeps D Ratings in Not Cooperating TENTIWALA METAL: CRISIL Keeps D Debt Ratings in Not Cooperating UPPER INDIA: CARE Keeps D Debt Ratings in Not Cooperating Category VS LIGNITE: ICRA Withdraws D Rating on INR203.19cr LT Loan I N D O N E S I A PERUSAHAAN PENGELOLA: Fitch Affirms 'BB+' IDRs, Outlook Stable M O N G O L I A DEVELOPMENT BANK: Fitch Affirms 'B' Long Term IDRs, Outlook Stable KHAN BANK LLC: Fitch Affirms 'B' Long Term IDR, Outlook Stable XACBANK LLC: Fitch Affirms 'B' Long Term IDR, Outlook Stable N E W Z E A L A N D BOTTOM BUS: Creditors' Proofs of Debt Due on Aug. 2 CLARKIN GOAT: Court to Hear Wind-Up Petition on Aug. 7 E1 WEB: Creditors' Proofs of Debt Due on July 31 LONGRIDGE 2016: Creditors' Proofs of Debt Due on Aug. 3 PREMIUM PLASTERBOARD: Court to Hear Wind-Up Petition on July 27 VETERINARY PROFESSIONAL: A.M. Best Affirms B (Fair) FS Rating S I N G A P O R E AIR PARTS: Creditors' Proofs of Debt Due on Aug. 7 AUSGROUP LIMITED: Court to Hear Wind-Up Petition on July 18 GLF HOTEL: Placed in Voluntary Liquidation LUCY HOLDINGS: Creditors' Meeting Set for July 25 SANANBIO SINGAPORE: Creditors' Proofs of Debt Due on Aug. 6 S R I L A N K A SRI LANKA: Fitch Cuts IDR & Local Currency Bond Issue Rating to 'C' SRI LANKA: Parliament Taps Panel to Probe Causes of Bankruptcy X X X X X X X X [*] BOND PRICING: For the Week July 3 to July 7, 2023 - - - - - ================= A U S T R A L I A ================= CASSEGRAIN WINES: Second Creditors' Meeting Set for July 14 ----------------------------------------------------------- A second meeting of creditors in the proceedings of Cassegrain Wines Pty Ltd has been set for July 14, 2023 at 10:00 a.m. via virtual meeting only. 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 July 12, 2023 at 4:00 p.m. Benjamin Ismay and Scott Newton of Shaw Gidley were appointed as administrators of the company on June 8, 2023. COMO HOMES: Court to Decide on Possible Liquidation on July 12 -------------------------------------------------------------- News.com.au reports that a building company has closed down its social media accounts and switched off its phone lines just days before a definitive court case could order it into liquidation. Como Homes is a residential builder based in Dandenong in Melbourne's southeast which has been a registered business since 2017, according to the corporate regulator. On its website - which still remains live - the building company boasts its customers are "the envy of the street" and implores anyone interested to contact them if they are "ready to discuss your dreams". But in reality this doesn't seem to be the case, news.com.au says. According to documents lodged with the Victorian Supreme Court and obtained by news.com.au, 13 creditors are chasing it for debts totalling nearly AUD1 million. The earliest debt Como Homes owes contractors dates back to July last year. For the past six months, court proceedings have been underway, with this Wednesday [July 12] set for the final decision, where it could be ordered into liquidation, news.com.au relates. Since January, Como Homes has had a daunting legal battle hanging over its head. On January 24, Flooring Xtra began winding up proceedings against the embattled construction firm after it failed to comply with a statutory demand for payment, news.com.au recalls. News.com.au relates that the flooring supplier provided invoices which showed from July and August last year, Como Homes racked up debts of AUD141,000 in those two months but never paid. Flooring Xtra suspended work with the company in August and several months later lodged documents with the Supreme Court. This lodgement sparked a pile-on for Como Homes, news.com.au states. A further 12 other applicants joined the court proceedings as supporting creditors in the following months. Judicial Registrar Gitsham is overseeing the case and is set to make a decision on July 12 after multiple delays and adjournments, news.com.au adds. DAASCON PTY: First Creditors' Meeting Set for July 14 ----------------------------------------------------- A first meeting of the creditors in the proceedings of Daascon Pty. Ltd. will be held on July 14, 2023, at 10:00 a.m. at Wesley Conference Centre, 220 Pitt Street in Sydney. Christopher John Palmer and Liam Thomas Bailey of O'Brien Palmer were appointed as administrators of the company on July 4, 2023. INCLING PTY: First Creditors' Meeting Set for July 17 ----------------------------------------------------- A first meeting of the creditors in the proceedings of Incling Pty Ltd will be held on July 17, 2023, at 11:00 a.m. via Microsoft Teams. Atle Crowe-Maxwell of DBA Advisory was appointed as administrator of the company on July 6, 2023. INTENSIVE EVENTS: Cor Cordis Appointed as Liquidators ----------------------------------------------------- Stephen Earel of restructuring advisory firm Cor Cordis was appointed as Liquidator of Intensive Events Pty Ltd, on July 5, 2023. Intensive Events Pty Ltd was placed into liquidation by the court pursuant to a creditor's winding up application. The Lunar Electric festival scheduled for September 2023, which was originally to be held in March 2023, will not proceed. The Liquidator has commenced his investigations into the Company's failure. "Cor Cordis will now assess the company's financials, realise any available company assets, and conduct investigations into any potential claims. A detailed report will be provided to creditors and stakeholders in due course. An email address for customers and other stakeholders has been set up for all enquiries," Cor Cordis said. JNC CONSTRUCTION: Second Creditors' Meeting Set for July 14 ----------------------------------------------------------- A second meeting of creditors in the proceedings of JNC Construction, JNC Fencing & Security, Linked Procurement, and Linkedhire has been set for July 14, 2023 at 10:00 a.m. via teleconference. The purpose of the meeting is (1) to receive the report by the Administrator about the business, property, affairs and financial circumstances of the Company; and (2) for the creditors of the Company to resolve whether the Company will execute a deed of company arrangement, the administration should end, or the Company be wound up. Creditors wishing to attend are advised proofs and proxies should be submitted to the Administrator by July 13, 2023 at 4:00 p.m. Mohammad Najjar of Vanguard Insolvency Australia was appointed as administrator of the company on June 8, 2023. REDS TRUST 2023-1: S&P Assigns Prelim BB(sf) Rating to Cl E Notes ----------------------------------------------------------------- S&P Global Ratings assigned its preliminary ratings to six of the seven classes of prime residential mortgage-backed securities (RMBS) to be issued by Perpetual Trustee Co. Ltd. as trustee for Series 2023-1 REDS Trust. Series 2023-1 REDS Trust is a securitization of prime residential mortgage loans originated by ME Bank (a division of Bank of Queensland Ltd.). The preliminary ratings assigned to the notes to be issued reflect: -- S&P's view of the credit risk of the underlying collateral portfolio, including the fact that this is a closed portfolio, which means no further loans will be assigned to the trust after the closing date. -- S&P's view that the credit support is sufficient to withstand the stresses it applies. Credit support for the rated notes is provided by subordination and lenders' mortgage insurance cover on 31.7% of the loan portfolio. -- S&P's expectation that the various mechanisms to support liquidity within the transaction, including principal draw function and an amortizing liquidity facility equal to 1.0% of the outstanding performing balance of the receivables, are sufficient under its stress assumptions to ensure timely payment of interest on the rated notes. -- The availability of a A$150,000 extraordinary expense reserve funded upfront by BOQ, available to meet extraordinary expenses. The reserve will be topped up with available excess spread if drawn. -- The benefit of a standby fixed- to floating-rate interest-rate swap to be provided by National Australia Bank Ltd. to hedge the mismatch between receipts from any fixed-rate mortgage loans and the variable-rate RMBS. Preliminary Ratings Assigned Series 2023-1 REDS Trust Class A1, A$460.00 million: AAA (sf) Class A2, A$19.10 million: AAA (sf) Class B, A$9.75 million: AA (sf) Class C, A$5.35 million: A (sf) Class D, A$2.80 million: BBB (sf) Class E, A$1.45 million: BB (sf) Class F, A$1.55 million: Not rated SJB NO 2: Second Creditors' Meeting Set for July 14 --------------------------------------------------- A second meeting of creditors in the proceedings of SJB No 2 Pty Ltd has been set for July 14, 2023 at 10:30 a.m. at the offices of Worrells at 195 Hume Street in Toowoomba and via virtual meeting. The purpose of the meeting is (1) to receive the report by the Administrator about the business, property, affairs and financial circumstances of the Company; and (2) for the creditors of the Company to resolve whether the Company will execute a deed of company arrangement, the administration should end, or the Company be wound up. Creditors wishing to attend are advised proofs and proxies should be submitted to the Administrator by July 13, 2023 at 5:00 p.m. Adam Francis Ward of Worrells was appointed as administrator of the company on June 9, 2023. VIRAL VENTURES: Karen's Diner Owes Hobart Restaurant AUD6,000 ------------------------------------------------------------- News.com.au reports that a Tasmanian small business owner has been left fuming over the collapse of restaurant chain Karen's Diner which has left her AUD6,000 out of pocket. News.com.au previously reported that on May 30, Viral Ventures (Australia) Pty Ltd went into voluntary liquidation, which was the company behind several Karen's Diner pop-up stores around Australia. The restaurant was centred around the gimmick of the staff pretending to act rudely towards customers as 'Karens' and first came to Australia in 2021. A liquidator's report obtained by news.com.au and filed with the corporate regulator shows that the company had racked up AUD4.3 million worth of debt by the time of its demise, including from intercompany loans, and has 56 creditors who have lodged claims for money they are owed. Megan Ma, 32, runs the popular Tasty Korea Chicken in Hobart alongside her husband and is one of the unsecured creditors caught up in the company's collapse, according to news.com.au. Representatives from Karen's Diner approached her several months ago about running a 'Karen's on Tour' Diner on tour event, where she would provide the venue and food for a ticketed event. She went ahead and ran the event, providing seating and food to 400 patrons over two days, in the belief she would be paid afterwards. But instead, just days later, Karen's Diner went bust, leaving her AUD6,000 in the hole, news.com.au relays. "This is a very big loss for us in this time," Ms. Ma told news.com.au. News.com.au relates that Ms. Ma said Karen's Diner did a 'tour' in Hobart where they approached a number of business owners, including her. They would sell tickets to the event and use their own waiters while she would provide the venue and the food, and also other back of house roles and cleaning duties. She would then invoice them for her own costs. "They didn't pay anything upfront. They paid after the event," Ms. Ma explained. Everything went smoothly the first time this went ahead, so she agreed to host a second event but this time something was different. "Usually they contacted us before the event, but this time they didn't," she recalled, notes the report. "One of the staff contacted us one day before which is not really well organised." On May 26 and 27, around 400 customers came to eat her famous Korean fried chicken, where Karen's Diner employees greeted them with insults and jibes, news.com.au recalls. Two days later, Ms. Ma sent them an invoice of AUD6,104 for her services. But the very next day, the company had appointed liquidators. Making her more angry is the fact Karen's Diner was in discussions with liquidators well before the event, the report relays. A liquidator's report revealed that the firm had a meeting with liquidators four days earlier but still allowed the event at Tasty Korea Chicken's restaurant to go ahead, news.com.au notes. ========= C H I N A ========= DEER INVESTMENT: Fitch Cuts Long Term IDR to 'B-'; Outlook Stable ----------------------------------------------------------------- Fitch Ratings has downgraded Deer Investment Holdings Limited's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'B-', from 'B'. The Outlook is Stable. The downgrade reflects elevated EBITDA leverage over the next year or two that exceeds Fitch expectations. Fitch believe the pace of deleveraging could be slow, as consumer sentiment remains weak, albeit recovering from the trough during the Covid-19 pandemic. This is weighing on Deer's recovery, as its performance is driven by market demand. Cash flow has also been affected by high interest payment amid the high rate environment. Deer's rating also incorporates an adequate business profile, characterised by long-term customer relationships with top global beauty brands, a leading position in a niche market and geographical diversification. The Stable Outlook reflects adequate liquidity, with revolving credit facilities available for drawdown to fund cash flow needs. KEY RATING DRIVERS Slower Deleveraging: Fitch expect a weak recovery and elevated interest payment to delay Deer's deleveraging and forecast EBITDA leverage of 7.8x in 2023, against our previous expectation of 5.5x. The pace of deleveraging depends on Deer's revenue generation, which is driven by market demand. Fitch expect Deer to cut capex to limit cash burn as it struggles to generate positive free cash flow amid the weak EBITDA and high interest expenses. Weaker than Expected Recovery: Deer's recovery so far has been below our expectation due to weak demand from its's top customer, Estee Lauder, and Chinese brands. Fitch forecast moderate revenue growth in 2023 from a low base in 2022, as operations normalise following the pandemic impact. However, revenue could be volatile, as a large proportion relies on the replenishment of orders, which are dependent on market conditions. Revenue growth could come from synergies with other brands owned by Deer's ultimate parent, The Carlyle Group Inc. (A-/Stable), and new orders, but this is subject to Deer's ability to win new customers and orders in a highly competitive industry. Improving Profitability: Fitch expect EBITDA to rise faster than revenue as Deer's margin improves, supported by falling raw material costs, increased efficiency - with a new production site in Huai'an, China - and a ramp up in utilisation. The ability to pass on some incremental costs to end customers also supports profitability. The negative impact from a higher contribution from overseas production plants is offset by the plants' improved efficiency. Adequate Liquidity: Fitch expect Deer's interest coverage to fall below 2x amid persistently high interest rates. Fitch assess liquidity to be adequate, given the USD75 million in revolving credit facilities on hand. This is sufficient to fund any free cash flow deficits in the next two years. Deer has limited refinancing risk, as its earliest term-loan B maturity is in 2029. Long-Term Customer Relationships: Fitch expect the long-term relationships that HCP Global Limited - Deer's only operating subsidiary - has with leading global brands with diverse portfolios, including its two largest customers - Estee Lauder and L'Oreal - to mitigate customer concentration risk. The top-10 customers account for over 60% of revenue. Customer orders depend on market demand, but HCP has retained a stable share of its key customers' business. Leader in Niche Market: HCP is the largest manufacturer of rigid packaging for beauty and skincare products in the Asia-Pacific and the second-largest globally. It holds a share of around 5% in the fragmented market, with the top-five manufacturers making up less than 20% of total market share. Fitch expect HCP's market position to be supported by high entry barriers and long-term relationships with key customers. New entrants require upfront investment to set up production facilities and need to pass a rigorous supplier qualification process before becoming global suppliers for beauty brands. DERIVATION SUMMARY Deer is smaller than higher-rated peers, such as Smurfit Kappa Group plc (BBB-/Stable), Berry Global Group, Inc. (BB+/Stable) and Silgan Holdings Inc. (BB+/Stable). Its business profile is also weaker, because of its limited product range and exposure to a more cyclical industry. In comparison with peers in the 'B' rating category, Deer is exposed to a more cyclical end-market of the beauty industry than Rimini BidCo S.p.A. (B+/Stable), which generates over 60% of revenue from food and beverages. This results in higher cash flow and profitability volatility at Deer. Deer also has higher leverage. Deer has a smaller scale and narrower addressable market than Titan Holdings II B.V. (B/Positive), a European metal food can producer. Deer also has a weaker financial profile with higher leverage, as well as lower coverage, free cash flow and liquidity. KEY ASSUMPTIONS Revenue to recover by the low-teens in 2023, moderating to low-single-digit growth in 2026 EBITDA margin of 20%-21% in 2023-2026 Capex intensity of 5.0%-5.5% in 2023-2026 No dividends in 2023-2026 RATING SENSITIVITIES Factors that could, individually or collectively, lead to positive rating action/upgrade: A clear deleveraging path, with EBITDA leverage below 7.0x on a sustained basis EBITDA interest coverage paid sustained above 1.75x Free cash flow trending toward neutral Factors that could, individually or collectively, lead to negative rating action/downgrade: Sustained negative free cash flow EBITDA interest coverage below 1.25x for a sustained period BEST/WORST CASE RATING SCENARIO International scale credit ratings of Non-Financial Corporate issuers have a best-case rating upgrade scenario (defined as the 99th percentile of rating transitions, measured in a positive direction) of three notches over a three-year rating horizon; and a worst-case rating downgrade scenario (defined as the 99th percentile of rating transitions, measured in a negative direction) of four notches over three years. The complete span of best- and worst-case scenario credit ratings for all rating categories ranges from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are based on historical performance. ISSUER PROFILE Deer is an investment vehicle set up by Carlyle to acquire HCP. The acquisition was completed in August 2022. REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING The principal sources of information used in the analysis are described in the Applicable Criteria. 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. KAISA GROUP: Faces Wind Up Petition in Hong Kong ------------------------------------------------ Reuters reports that Kaisa Group said on July 10 a winding-up petition has been filed against it in a Hong Kong court in relation to CNY170 million (US$23.50 million) non-payments on onshore bonds. Many Hong Kong-listed Chinese developers have faced winding-up petitions since the sector slipped into a debt crisis in mid-2021, Reuters says. Many property firms have defaulted and are undergoing debt restructuring. According to the report, Kaisa said the petition was filed by Broad Peak Investment Pte Advisers Ltd at the Hong Kong High Court on July 6, and the issuer of the yuan bonds is its wholly-owned subsidiary, Kaisa Group (Shenzhen) Co Ltd. Reuters relates that the Shenzhen-based company said it would seek legal measures to oppose the petition vigorously, and it would continue to proactively communicate with its offshore creditors on the restructuring plan, with the objective of announcing terms to the market as soon as practicable. The first hearing for the petition will be on Sept. 13, Reuters discloses. About Kaisa Group Kaisa Group Holdings Ltd engages in real estate development in China, including urban redevelopment projects in the GBA. As of June 30, 2021, the company's land bank comprised an aggregate gross floor area of 31.1 million square meters of saleable resources across over 50 cities in China. As reported in the Troubled Company Reporter-Asia Pacific, on Oct. 13, 2022, Moody's Investors Service has withdrawn Kaisa Group Holdings Ltd's Ca corporate family rating and its C senior unsecured ratings. Prior to the withdrawal, the rating outlook was negative. SINGULATO MOTORS: To Face Bankruptcy Proceeding Procedure --------------------------------------------------------- Aron Chen at Pingwest reports that Chinese electric vehicle startup Singulato Motors is now facing bankruptcy proceedings initiated by a group of creditors. Singulato had been exposed for widespread unpaid wages and insolvency, leading to court-ordered enforcement. Established in 2014, Singulato received investments from local governments such as Tongling in Anhui, Zhuzhou in Hunan, and Suzhou in Jiangsu. Zhou Hongyi, founder and CEO of Qihoo 360, is also a major investor in Singulato. In total, the EV startup raised a funding amount of CNY17 billion throughout its history. According to Pingwest, Singulato had planned for three production bases, and its urban showrooms were once bustling with activity. They even expanded into commercial vehicles and electric two-wheelers, spreading their operations extensively. However, despite being founded around the same time as NIO, XPeng Motors, and Li Auto, Singulato never managed to produce and deliver a single vehicle, Pingwest notes. On July 5, the Intermediate People's Court of Tongling City in Anhui Province issued a notice stating that on June 26, 2023, the court accepted the bankruptcy liquidation case of Anhui QiDian Intelligent New Energy Automobile Co., Ltd. (also known as Singulato Motors) based on the application of 10 creditors, Pingwest reports. In simple terms, Singulato has effectively gone bankrupt and closed down, the report notes. The creditors have applied to the court for bankruptcy liquidation proceedings to recover their losses. Furthermore, the court has appointed a professional accounting firm to take over the management of Singulato Motors. This indicates that the management team of Singulato Motors, including its founder Shen Haiyin, has exited the company, Pingwest relates. Singulato Motors unveiled its first model, the iS6, in 2016. This debut preceded the release of the first models by other prominent Chinese electric vehicle startups like NIO, XPeng Motors, and Li Auto, which were founded in the same year. Singulato Motors' early entry into the market garnered significant attention from investors, the media, and the public. Singulato Motors successfully completed a total of 11 funding rounds from 2015 to 2020, notable investors included Lenovo Star, their former parent company 360, Intel Capital, Oriental Fortune Capital, Itochu Corporation, Tongling Municipal Government of Anhui. [*] CHINA: Banks Bear Brunt of Concerns Around Growth and Debt -------------------------------------------------------------- Reuters reports that Chinese banks are facing increasing risks from rising non-performing loans (NPLs) and diminishing returns, making them a lightning rod for investors' worries about the world's second-largest economy. According to Reuters, concerns about their exposure to local government financing vehicles (LGFVs), the investment firms that fund mainly infrastructure projects for local governments, and the crisis-hit property sector have pummelled their shares this week, dragging them to their steepest drops in about eight years. Authorities appeared anxious to nip the selloff after Goldman Sachs' downgrade of some major lenders to "Sell" ratings caused the Hong Kong-listed banking sector index to tumble more than 10% in three sessions, Reuters relates. Reuters says Goldman's three-part series refers to banks' writing down loans to the property sector as well as the pressure on bank profits as they expand or roll over loans and other lending to LGFVs. "LGFVs' debt risk may ultimately need to be borne by the state sector, including China's state commercial banks," Reuters quotes Raymond Yeung, chief Greater China economist at ANZ, as saying. "The central government knows what's happening regarding the size of the debts and where the weak links are, so the probability of systemic risks will be greatly reduced. The possibility of defaults by a large number of LGFVs is low." Reuters notes that sell-side analysts seemed to concur that the risk of a crisis emanating from the gargantuan $13 trillion LGFV debt pile is low, but banks will still take a hit from rising non-performing loans and falling returns. "If local governments' revenues continue to worsen, then NPLs among some Chinese banks may go up. Chinese banks would have to shoulder up this cost," said Gary Ng, senior economist at Natixis Corporate & Investment Banking in Hong Kong. ========= I N D I A ========= AAJ KA: CRISIL Keeps D Debt Ratings in Not Cooperating Category --------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Aaj Ka Anand Papers Limited (AKAPL) continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Long Term Rating - CRISIL D (ISSUER NOT COOPERATING) Short Term Rating - CRISIL D (ISSUER NOT COOPERATING) CRISIL Ratings has been consistently following up with AKAPL for obtaining information through letter and email dated March 25, 2023 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 AKAPL, which restricts CRISIL Ratings' ability to take a forward looking view on the entity's credit quality. CRISIL Ratings believes that rating action on AKAPL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of AKAPL continues to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. AKAPL, based in Pune, was formed as a proprietorship firm in 1971; this firm was reconstituted as a closely held company in 1993, promoted by Mr. Shyam Agarwal. The company prints and publishes Hindi, Marathi, and English daily newspapers: Aaj ka Anand, Sandhyanand, and Life 365, respectively. It also owns a 30-room budget hotel, Citi-o-tel, at Pune. AKAPL is currently being managed by Mr. Anand Agarwal. AANANDA LAKSHMI: CRISIL Keeps D Debt Ratings in Not Cooperating --------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Aananda Lakshmi Spinning Mills Limited (ALSML) continue to be 'CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 4.29 CRISIL D (ISSUER NOT COOPERATING) Cash Credit 10 CRISIL D (ISSUER NOT COOPERATING) Long Term Loan 10.32 CRISIL D (ISSUER NOT COOPERATING) Long Term Loan 4.44 CRISIL D (ISSUER NOT COOPERATING) Long Term Loan 1.78 CRISIL D (ISSUER NOT COOPERATING) Long Term Loan 2.33 CRISIL D (ISSUER NOT COOPERATING) Proposed Long Term 4.84 CRISIL D (ISSUER NOT Bank Loan Facility COOPERATING) CRISIL Ratings has been consistently following up with ALSML for obtaining information through letter and email dated March 25, 2023 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 ALSML, which restricts CRISIL Ratings' ability to take a forward looking view on the entity's credit quality. CRISIL Ratings believes that rating action on ALSML is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of ALSML continues to be 'CRISIL D Issuer Not Cooperating'. ALSML incorporated in 2013 is engaged in manufacturing of cotton, blended polyster, polyster viscose, blended yarns etc at Bhongir with a capacity of 40112 Spindles and Production capacity of 20 tons per day. The company manufactures 50 percent of cotton yarn and 50 percent of polyester. The company is listed on the Bombay Stock Exchange. CMJ BREWERIES: CRISIL Keeps D Debt Rating in Not Cooperating ------------------------------------------------------------ CRISIL Ratings said the rating on bank facilities of CMJ Breweries Private Limited (CMCHS) continues to be 'CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Long Term Rating 230.1 CRISIL D (ISSUER NOT COOPERATING) CRISIL Ratings has been consistently following up with CMCHS for obtaining information through letter and email dated March 25, 2023 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 CMCHS, which restricts CRISIL Ratings' ability to take a forward looking view on the entity's credit quality. CRISIL Ratings believes that rating action on CMCHS is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of CMCHS continues to be 'CRISIL D Issuer Not Cooperating'. CMCHS was registered on 12th March 1912. The society is constituted under Tamil Nadu co-operative Societies Act 1983 & Rules 1988. CMCHS provides jewel loans, mortgage loans and loan against fixed deposit to the members of the society. In addition the society promotes and markets various housing schemes of government of Tamilnadu for the members. COCHIN BRIDGE: ICRA Keeps D Debt Rating in Not Cooperating ---------------------------------------------------------- ICRA has retained the Long-Term ratings of Cochin Bridge Infrastructure Company Limited in the 'Issuer Not Cooperating' category. The rating is denoted as "[ICRA]D: ISSUER NOT COOPERATING". Amount Facilities (INR crore) Ratings ---------- ----------- ------- Fund based- 9.11 [ICRA]D; ISSUER NOT COOPERATING; Term Loan Rating continues to remain under 'Issuer Not Cooperating' Category ICRA has been trying to seek information from the entity so as to monitor its performance. Further, ICRA has been sending repeated reminders to the entity for payment of surveillance fee that became due. but despite repeated requests by ICRA, the entity's management has remained non-cooperative. The current rating action has been taken by ICRA basis best available/dated/limited information on the issuers' performance. Accordingly, the lenders, investors and other market participants are advised to exercise appropriate caution while using this rating as the rating may not adequately reflect the credit risk profile of the entity. The rating action has been taken in accordance with ICRA's policy in respect of non-cooperation by a rated entity available at www.icra.in. CBICL is a Special Purpose Vehicle (SPV) incorporated in October 1999 to construct and operate a new bridge over the Matancherry channel on BOT basis in Kochi connecting Fort Kochi and Mattancherry with Willingdon Island. CBICL is a 97.66% subsidiary of Gammon Infrastructure Projects Limited (GIPL, the infrastructure holding company of the Gammon group), with the balance held by Cochin Port Trust. Construction of the bridge was completed ten months ahead of schedule. The company has no operational cash flows as the toll collection was suspended from April 2014. EAST HYDERABAD: ICRA Keeps D Debt Rating in Not Cooperating ----------------------------------------------------------- ICRA has retained the Long-Term ratings of East Hyderabad Expressway Limited in the 'Issuer Not Cooperating' category. The rating is denoted as "[ICRA]D: ISSUER NOT COOPERATING". Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long-term– 119.49 [ICRA]D; ISSUER NOT COOPERATING; Fund based Rating Continues to remain under Cash Credit 'Issuer Not Cooperating' Category ICRA has been trying to seek information from the entity so as to monitor its performance. Further, ICRA has been sending repeated reminders to the entity for payment of surveillance fee that became due. but despite repeated requests by ICRA, the entity's management has remained non-cooperative. The current rating action has been taken by ICRA basis best available/dated/limited information on the issuers' performance. Accordingly, the lenders, investors and other market participants are advised to exercise appropriate caution while using this rating as the rating may not adequately reflect the credit risk profile of the entity. The rating action has been taken in accordance with ICRA's policy in respect of non-cooperation by a rated entity available at www.icra.in. East Hyderabad Expressway Limited (EHEL) is a Special Purpose Vehicle (SPV) incorporated in July 2007 for undertaking the design, construction, development, finance, and Operation and Maintenance (O&M) of an 8-lane access-controlled expressway. The project is spread over 13 km, as part of Phase-2A of the Hyderabad Outer Ring Road (ORR) project on a BOT (annuity) basis. The project is owned by the Hyderabad Metropolitan Development Authority (HMDA, a Government of Telangana undertaking). ITNL holds 74% of EHEL's equity, while the balance is held by KMC Construction Limited (10%) and KMC Infratech Limited (16%). FASHIONS LIMITED: CARE Keeps D Debt Ratings in Not Cooperating -------------------------------------------------------------- CARE Ratings said the rating for the bank facilities of Future Lifestyle Fashions Limited (FLFL) continues to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 867.98 CARE D; ISSUER NOT COOPERATING Facilities Rating continues to remain under ISSUER NOT COOPERATING category Short Term Bank 475.00 CARE D; ISSUER NOT COOPERATING Facilities Rating continues to remain under ISSUER NOT COOPERATING category Non Convertible 350.00 CARE D; ISSUER NOT COOPERATING Debentures Rating continues to remain under ISSUER NOT COOPERATING category Detailed rationale and key rating drivers CARE Ratings Ltd. had, vide its press release dated May 3, 2022, placed the ratings of FLFL under the 'issuer non-cooperating' category as FLFL had failed to provide information for monitoring of the rating and had not paid the surveillance fees for the rating exercise as agreed to in its Rating Agreement. The company continues to be noncooperative despite repeated requests for submission of information through e-mails dated June 19, 2023, June 10, 2023, May 31, 2023 and May 21, 2023 etc. In line with the extant SEBI guidelines, CARE Ratings Ltd. has reviewed the rating on the basis of the best available information which however, in CARE Ratings Ltd.'s opinion is not sufficient to arrive at a fair rating. Users of this rating (including investors, lenders and the public at large) are hence requested to exercise caution while using the above rating(s). At the time of last rating on July 5, 2022 the following was the rating weakness (updated for the information available from stock exchange): * Delays in servicing of debt obligation: The company has failed to service its debt repayment obligation. The NCLT on May 04, 2023 has admitted FLFL for CIRP under IBC. The tribunal has appointed an IRP to take over the management of the company. Bank Of India, the lead financial creditor had moved the NCLT under the IBC after the company defaulted on payments. Future Lifestyle Fashions Limited (FLFL) is a part of the Future Group. FLFL is in the business of managing the lifestyle fashion segment of the Future Group. It has a portfolio of fashion brands that cover a range of fashion categories including formal menswear, casual wear, active or sportswear, women's ethnic wear, women's denim wear, women's casual wear, footwear and accessories and are present across various price points. The company as on March 31, 2022 operate 180 stores having a retail space of 2.50 million sq. ft. FIBREMARX PAPERS: CARE Keeps D Debt Ratings in Not Cooperating -------------------------------------------------------------- CARE Ratings said the rating for the bank facilities of Fibremarx Papers Private Limited (FPPL) continues to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 38.10 CARE D; ISSUER NOT COOPERATING Facilities Rating continues to remain under ISSUER NOT COOPERATING category Short Term Bank 2.50 CARE D; ISSUER NOT COOPERATING Facilities Rating continues to remain under ISSUER NOT COOPERATING category Rationale and Key Rating Drivers CARE Ratings Ltd. had, vide its press release dated June 13, 2022, placed the rating(s) of FPPL under the 'issuer non-cooperating' category as FPPL had failed to provide information for monitoring of the rating and had not paid the surveillance fees for the rating exercise as agreed to in its Rating Agreement. FPPL continues to be noncooperative despite repeated requests for submission of information through e-mails, phone calls and a letter/email dated April 29, 2023, May 9, 2023, May 19, 2023. In line with the extant SEBI guidelines, CARE Ratings Ltd. has reviewed the rating on the basis of the best available information which however, in CARE Ratings Ltd.'s opinion is not sufficient to arrive at a fair rating. Users of this rating (including investors, lenders and the public at large) are hence requested to exercise caution while using the above rating(s). Fibremarx Papers Private Limited was incorporated in January 2006 and commenced its commercial operations in May 2006. The company is promoted by Mr Jasdeep Singh Goraya and his brother Simrandeep Singh Goraya. It is engaged in manufacturing of writing & printing paper (WPP) paper, kraft paper and newsprint paper at its manufacturing facility located at Udham Singh Nagar, Kashipur, Uttrakhand. The main raw material used by the company is waste paper which is procured domestically and also imported. FUTURE CONSUMER: CARE Moves D Debt Ratings to Not Cooperating ------------------------------------------------------------- CARE Ratings has moved the ratings on certain bank facilities of Future Consumer Limited (FCL), as: Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 102.20 CARE D; ISSUER NOT COOPERATING Facilities Rating moved to ISSUER NOT COOPERATING category Long Term/ 305.75 CARE D/CARE D; ISSUER NOT Short Term COOPERATING; Rating moved to Bank Facilities ISSUER NOT COOPERATING category Short Term Bank 1.70 CARE D; ISSUER NOT COOPERATING; Facilities Rating moved to ISSUER NOT COOPERATING category Detailed rationale and key rating drivers CARE Ratings Ltd. had, vide its press release dated June 26, 2023, has placed the ratings of FCL under the 'issuer non-cooperating' category as FCL had failed to provide information for monitoring of the rating and had not paid the surveillance fees for the rating exercise as agreed to in its Rating Agreement. The company continues to be noncooperative despite repeated requests for submission of information through e-mails dated June 19, 2023, June 16, 2023, June 6, 2023 and May 23, 2023 etc. In line with the extant SEBI guidelines, CARE Ratings Ltd. has reviewed the rating on the basis of the best available information which however, in CARE Ratings Ltd.'s opinion is not sufficient to arrive at a fair rating. Users of this rating (including investors, lenders and the public at large) are hence requested to exercise caution while using the above rating(s). At the time of last rating on June 10, 2022 the following was the rating weakness (updated for the information available from stock exchange): * Weak financial profile: FCL reported Total Operating Income (TOI) of INR100.48 crore and net loss of INR547.25 crore in FY23. The Company has defaulted on payment of interest/repayment of principal amount on loans from banks/ financial institution and unlisted debts securities as on March 31, 2023. * Non-Implementation of Reliance-Future deal: As per the direction of the Honorable court, FCL has scheduled meeting with equity shareholders, secured creditors, and unsecured creditors for voting on the implementation of RIL-FRL Deal. However, 100% of the secured creditors voted against the deal which led to the non-implementation of composite scheme of arrangement between Future Group entities and Reliance Group entities. Future Consumer Ltd. (FCL, erstwhile known as Future Consumer Enterprise Ltd.) is a part of the Future Group and operates as a food company. The company's line of business include branding, marketing, sourcing, manufacturing, and distribution of basic foods, ready to eat meals, snacks, beverages, dairy, personal hygiene and home care products of private label brands of the Future Group (such as Premium Harvest, Golden Harvest, Ektaa, Clean mate, Caremate, Tasty Treat, Fresh & Pure, Voom etc.) and other brands like Sunkist and Sach, primarily through Future group formats and outlets in urban and rural areas across India. GILLCO DEVELOPERS: ICRA Keeps D Debt Ratings in Not Cooperating --------------------------------------------------------------- ICRA has kept the Long-Term ratings of Gillco Developers & Builders Private Limited in the 'Issuer Not Cooperating' category. The rating is denoted as "[ICRA]D; ISSUER NOT COOPERATING'. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long-term– 20.00 [ICRA]D; ISSUER NOT COOPERATING; Fund based Rating Continues to remain under Cash Credit 'Issuer Not Cooperating' Category Long-term– 42.00 [ICRA]D; ISSUER NOT COOPERATING; Fund based Rating Continues to remain under Term Loan 'Issuer Not Cooperating' Category Long-term– 3.00 [ICRA]D; ISSUER NOT COOPERATING; Fund based Rating Continues to remain under Term Loan 'Issuer Not Cooperating' Category Also, the rating outstanding on INR42.0 crore long term facilities of Gillco Developers & Builders Private Limited has been withdrawn based on the request of the company and Closure Certificate received from its Lender for withdrawal and in accordance with ICRA's policy on withdrawal. However, ICRA does not have information to suggest that the credit risk has changed since the time the rating was last reviewed. The Key Rating Drivers, Liquidity Position, Rating Sensitivities, Key financial indicators have not been captured as the rated instruments are being withdrawn. The previous detailed rating rationale is available at the following link: Click here. ICRA is unable to provide the latest Information because of noncooperation by the entity. Gillco Developers & Builders Private Limited (GDB) was incorporated in February 2011 and is involved in real estate development in the Mohali region in Punjab. The company is closely held by the Gill family based in Chandigarh, Punjab and has Mr. Ranjeet Singh Gill as its Managing Director. Mr. Gill has more than 10 years of experience in the real estate development business, having executed various residential projects in Mohali, Punjab. The company builds residential spaces in Mohali, Punjab which includes plots, flats, villas and commercial complexes. GLUHEND INDIA: CARE Lowers Rating on INR263cr NCD to D ------------------------------------------------------ CARE has revised the rating assigned to Non-convertible Debentures (NCD- ISIN INE744Z07027) of Gluhend India Private Limited (GIPL) to CARE D on account of inability of the company to repay NCD on due date. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Non Convertible 263.00 CARE D Revised from CARE C; Debentures Negative Rating sensitivities: Factors likely to lead to rating actions Positive factors * Sustainable improvement in the scale of operations while maintaining PBILDT margin of above 20% on sustained basis. * Refinancing/Redemption of NCDs' and timely interest servicing Analytical approach: Standalone Detailed description of the key rating drivers: Key weaknesses * Non-redemption nor refinancing of NCD's: The rated NCD's are due for redemption on June 30, 2023. However, the Board of Directors of the Company, pursuant to its discussions with the NCDs holders, has approved the restructuring of NCDs in terms of extension of date of redemption by 14 days i.e., from 30th June 2023 to 14th July 2023. As per discussion with management, the rated NCD's were meant to be refinanced at end of the term as company's cash flow from operation were not sufficient for redemption. The company have been exploring US markets for re-financing; however, US markets are not favorable in recent times. Extension for redemption is given by the lenders to let company explore India market for refinancing. Liquidity: Poor The company has poor liquidity characterized by low cash accruals of INR11.43 cr. and cash flow from operations of INR36.10 cr. for FY22 as against upcoming NCD redemption payments of INR263.00 cr along with deferred interest payments in June 2023. The company is exploring options for refinancing of NCDs' and timely refinancing of the NCDs' will be a key monitorable going forward. The current ratio and quick ratios of the company stood satisfactory at 1.66x and 1.15x respectively, as on March 31, 2022. The company does not have any debt obligations other than NCD's. The company is not having any capex plans in medium term. Incorporated in 2017, Gluhend India Private Limited is sponsored by New York based Private Equity firm Delos Capital Management. The company took over the business of Sage Metal Private Limited (SMPL) and is engaged in export die-cast components made of steel, copper, aluminium, zinc, and iron; which are used in electrical fittings, industrial castings, sanitary drainage fittings, automotive components, and water pump accessories and has manufacturing facilities each in Bawal (Haryana), Faridabad (Haryana) and Sahibabad (Uttar Pradesh). Further, Sage International Inc (SII), incorporated in July 1999 in the US, is a wholly owned subsidiary of GIPL (acquired by SMPL pre-acquisition) and acts as its marketing and warehousing arm in the US and Canada. Trident Components and Jayco Manufacturing, subsidiaries of SII based in USA, are engaged in manufacturing and trading of metal components (same line of business) having 2 manufacturing facilities in USA. GO FIRST: Seeks Investor Interest as Part of Insolvency Process --------------------------------------------------------------- Reuters reports that Go Airlines (India) Ltd has invited investor interest in the company through a court-appointed administrator as part of the carrier's ongoing insolvency, a newspaper advertisement showed on July 10. The process is in line with procedural requirements under Indian law. Two bankers aware of the developments told Reuters on July 10 that they expect Indian conglomerate Wadia Group - which used to own Go Airlines before it started bankruptcy proceedings - to be part of its insolvency process. The Wadias, however, have not communicated their intent directly to bankers, they said. Go Airlines and Wadia Group's Ness Wadia did not immediately respond to a Reuters request for comment. "There has always been intent and inclination from the Wadias to keep the airline afloat," said one of the bankers, who did not want to be named as he is directly involved in Go First's insolvency process, Reuters relays. "They (Wadia Group) are not disqualified by law to bid for the airline because there has technically been no default," this banker said. "There is no formal indication to banks that the Wadia Group will submit an EoI, but the likelihood is that they will," said a banker of a state-owned lender that has exposure to the airline and is a part of the committee of creditors to Go First. The banker did not wish to be identified because he was not authorised to speak to the media, notes the report. Right after the bankruptcy filing, the airline's then chief executive had told Reuters that the Wadia Group was completely committed to the company. About Go First Go First, formerly known as GoAir, was an Indian ultra-low-cost airline based in Mumbai, Maharashtra. Go First was incorporated in April 2004 as GoAir and commenced flight operations in November the following year. Its inaugural flight was from Mumbai to Ahmedabad. The airline is owned by the Wadia Group. As reported the Troubled Company Reporter-Asia Pacific on May 3, 2023, Go First filed an application for voluntary insolvency resolution proceedings before National Company Law Tribunal (NCLT) on May 2. The company said the filing with the NCLT comes after Pratt & Whitney, the exclusive engine supplier for the airline's Airbus A320neo aircraft fleet, refused to comply with an order to release engines to the airline that would have allowed it return to full operations. Go First owes INR6,521 crore to its financial creditors, Bank of Baroda, IDBI Bank, and Deutsche Bank. The airline has a total liability of about INR11,463 crore to banks, other creditors, vendors, and others. On May 10, the NCLT accepted Go First's voluntary insolvency petition. The NCLT bench appointed Abhilash Lal as the interim resolution professional to look after the affairs of Go First and also suspended its board as part of the insolvency resolution process. HIRAMAN DEVELOPERS: ICRA Keeps D Debt Rating in Not Cooperating --------------------------------------------------------------- ICRA has retained the Long-Term ratings of Hiraman Developers Private Limited in the 'Issuer Not Cooperating' category. The rating is denoted as "[ICRA]D: ISSUER NOT COOPERATING". Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long-term– 7.00 [ICRA]D; ISSUER NOT COOPERATING; Fund based Rating Continues to remain under Term Loan 'Issuer Not Cooperating' Category ICRA has been trying to seek information from the entity so as to monitor its performance. Further, ICRA has been sending repeated reminders to the entity for payment of surveillance fee that became due. but despite repeated requests by ICRA, the entity's management has remained non-cooperative. The current rating action has been taken by ICRA basis best available/dated/limited information on the issuers' performance. Accordingly, the lenders, investors and other market participants are advised to exercise appropriate caution while using this rating as the rating may not adequately reflect the credit risk profile of the entity. The rating action has been taken in accordance with ICRA's policy in respect of non-cooperation by a rated entity available at www.icra.in. Hiraman Developers Private Limited (HDPL) was incorporated in January 2008 as Mewar Future Developers Pvt. Ltd. and its name was subsequently changed to the current name in May 2011. The key promoter of HDPL is Mr. Hira Lal Jain who has been in Real Estate Business since 1982 dealing in Sale & Purchase of Land and has also executed various commercial and residential complexes in Mumbai, Navi Mumbai and Udaipur. IREO PRIVATE: ICRA Keeps D Debt Ratings in Not Cooperating ---------------------------------------------------------- ICRA has retained the Long-Term ratings of IREO Private Limited in the 'Issuer Not Cooperating' category. The rating is denoted as "[ICRA]D: ISSUER NOT COOPERATING". Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long-term– 420.69 [ICRA]D; ISSUER NOT COOPERATING; Fund based Rating Continues to remain under Term Loan 'Issuer Not Cooperating' Category Long Term- 150.00 [ICRA]D; ISSUER NOT COOPERATING; Non Fund Rating continues to remain under Based-Others 'Issuer Not Cooperating' Category Long Term 399.31 [ICRA]D; ISSUER NOT COOPERATING; Unallocated Rating continues to remain under 'Issuer Not Cooperating' Category ICRA has been trying to seek information from the entity so as to monitor its performance. Further, ICRA has been sending repeated reminders to the entity for payment of surveillance fee that became due. but despite repeated requests by ICRA, the entity's management has remained non-cooperative. The current rating action has been taken by ICRA basis best available/dated/limited information on the issuers' performance. Accordingly, the lenders, investors and other market participants are advised to exercise appropriate caution while using this rating as the rating may not adequately reflect the credit risk profile of the entity. The rating action has been taken in accordance with ICRA's policy in respect of non-cooperation by a rated entity available at www.icra.in. IPL was set up as a special purpose vehicle (SPV) to develop a mixed-use township in Gurgaon. The company (erstwhile Orange Realty Private Limited) is promoted by IREO Investment Holding III Ltd., which is registered in Mauritius. As on March 31, 2016, IREO – directly and through its intermediate holding companies – had funded the SPV to the tune of INR1,719 crore through a mix of equity, fully convertible debentures and redeemable preference shares. IREO is a foreign private equity fund established to directly invest in the Indian real estate sector. The IREO Group had raised over USD1.7 billion. It is involved in real-estate development in residential, commercial and hospitality sectors. As a business strategy the IREO Group focuses on Tier-1 cities. KREYA INFRATECH: CARE Keeps D Debt Ratings in Not Cooperating ------------------------------------------------------------- CARE Ratings said the rating for the bank facilities of Kreya Infratech Private Limited (KIPL) continues to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 3.00 CARE D; ISSUER NOT COOPERATING Facilities Rating continues to remain under ISSUER NOT COOPERATING category Long Term/ 6.00 CARE D/CARE D; ISSUER NOT Short Term COOPERATING; Rating continues Bank Facilities to remain under ISSUER NOT COOPERATING category Rationale & Key Rating Drivers CARE Ratings Ltd. had, vide its press release dated June 14, 2022, placed the rating(s) of KIPL under the 'issuer non-cooperating' category as KIPL had failed to provide information for monitoring of the rating and had not paid the surveillance fees for the rating exercise as agreed to in its Rating Agreement. KIPL continues to be non-cooperative despite repeated requests for submission of information through e-mails, phone calls and a letter/email dated April 30, 2023, May 10, 2023, May 20, 2023. In line with the extant SEBI guidelines, CARE Ratings Ltd. has reviewed the rating on the basis of the best available information which however, in CARE Ratings Ltd.'s opinion is not sufficient to arrive at a fair rating. Users of this rating (including investors, lenders and the public at large) are hence requested to exercise caution while using the above rating(s). Gurgaon based, Kreya Infratech Private Limited (KIPL) was incorporated in 2015 by Mr. S.K. Chabbra, Mr. Satish Mittal and Mr. Manu Aggarwal. The company is a turnkey contractor which provides a comprehensive range of services including architectural planning, designing, site survey & excavation, interior furnishings. MEGHA GRANULES: CRISIL Keeps D Debt Ratings in Not Cooperating -------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Megha Granules Private Limited (MGPL) continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Long Term Rating - CRISIL D (ISSUER NOT COOPERATING) Short Term Rating - CRISIL D (ISSUER NOT COOPERATING) CRISIL Ratings has been consistently following up with MGPL for obtaining information through letter and email dated March 31, 2023 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 MGPL, which restricts CRISIL Ratings' ability to take a forward looking view on the entity's credit quality. CRISIL Ratings believes that rating action on MGPL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of MGPL continues to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. Incorporated in May 2005, MGPL is promoted by Mr Trilok Agarwal and his son. The company has been manufacturing block-bottom valve bags since December 2012. Currently, it has an installed capacity of 10,000 tonne per annum at its facility in Guwahati, Assam. The promoters have various other companies engaged in the manufacturing of bulk packaging materials and ferroalloys. They have been in this line of business for the past two decades. ORIENT GREEN: ICRA Withdraws D Rating on INR26.79cr Term Loan ------------------------------------------------------------- ICRA has withdrawn the ratings assigned to the bank facilities of Orient Green Power Company Limited (OGPCL) at the request of the company, and upon receipt of no objection certificate (NOC) from the bankers, which is in accordance with ICRA's policy on withdrawal of credit rating. However, ICRA does not have information to suggest that the credit risk has changed since the time the rating was last reviewed. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Fund based– Term Loan 26.79 [ICRA]D; withdrawn The Key Rating Drivers, Liquidity Position and Rating Sensitivities have not been captured as the rated instrument is being withdrawn. OGPCL, incorporated in 2006, is into renewable power generation with focus on wind and biomass power segments. As on March 31, 2021, the company had an installed capacity of 417 MW of wind power plants across Tamil Nadu, Andhra Pradesh, Gujarat, Karnataka and Europe. OGPCL is promoted by SVL Limited (Shriram Group) and is listed on both the BSE and the NSE. POLO HOTELS: CRISIL Keeps D Debt Rating in Not Cooperating ---------------------------------------------------------- CRISIL Ratings said the rating on bank facilities of Polo Hotels Limited (PHL) continues to be 'CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Term Loan 30 CRISIL D (ISSUER NOT COOPERATING) CRISIL Ratings has been consistently following up with PHL for obtaining information through letter and email dated March 25, 2023 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 PHL, which restricts CRISIL Ratings' ability to take a forward looking view on the entity's credit quality. CRISIL Ratings believes that rating action on PHL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of PHL continues to be 'CRISIL D Issuer Not Cooperating'. PHL was established in 1984 as Polo Estates Hotels and Investments Pvt Ltd by Mr. Vikas Garg. It was reconstituted as a public limited company and was renamed PHL in 1989. It was listed on the Bombay Stock Exchange in 1992. The business, however, was taken over by its present promoter, Mr. A R Dahiya, in 1998. PHL presently owns and operates a three-star hotel named Hotel North Park in Sector 32, Panchkula (Haryana). It was previously leased out to Hot Million Food Products Pvt Ltd, a chain of fast food restaurants, from 2001 to February 28, 2015. The company is developing a new hotel in Panchkula. PTG TECHNOPAK: ICRA Keeps B+ Debt Ratings in Not Cooperating ------------------------------------------------------------ ICRA has retained the ratings for the bank facilities of Ptg Technopak Private Limited (PTG) in the Issuer Not-Cooperating category. The rating is denoted as [ICRA]B+(Stable)/[ICRA]A4 ISSUER NOT COOPERATING. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term- 5.85 [ICRA]B+ (Stable) ISSUER NOT Fund Based- COOPERATING; Rating continues Cash Credit to remain under 'Issuer Not Cooperating' category Long Term- 1.00 [ICRA]B+ (Stable) ISSUER NOT Fund Based- COOPERATING; Rating continues Term Loan to remain under 'Issuer Not Cooperating' category Short-term– (6.00) [ICRA]A4; ISSUER NOT Interchangeable COOPERATING; rating continues to be under issuer not cooperating category Unallocated 2.85 [ICRA]B+(Stable); ISSUER NOT limits COOPERATING; rating continues to be under issuer not cooperating category The rating action is based on the limited cooperation from the entity since the time it was last rated in July 2022. As part of its process and in accordance with its rating agreement with Ptg Technopak Private Limited, ICRA has been sending repeated reminders to the entity for payment of surveillance fee that became due. Despite multiple requests by ICRA, the entity's management has remained non-cooperative. The current rating action has been taken by ICRA basis best available information on the issuer's performance. In the absence of requisite cooperation and in line with SEBI's circular No.SEBI/HO/MIRSD4/CIR/2016/119, dated November 1, 2016, the company's rating remains under the Issuer Not Cooperating category. The rating action has been taken in accordance with ICRA's policy on non-cooperation by a rated entity available at www.icra.in. The [ICRA]B+(Stable) rating factors in PTG's steady revenue growth, driven by an increase in sales volumes and higher realisations. The rating also factors in an expanding customer base which includes reputed names. PTG has no major external debt other than working capital limits which are typically sparsely utilised. Additionally, the rating continues to factor in the promoter's extensive experience in the plastic rigid packaging industry and a favourable demand outlook for PTG's products (high-density polyethylene drums, barrels and containers). However, the rating remains constrained by a highly fragmented and competitive industry, which limits the pricing flexibility of the industry participants, and PTG's modest scale of operations, resulting in limited economies of scale. Moreover, the operating margins have been declining to around 4% in FY2023 from more than 5% in FY2022. The capital structure has been leveraged and the debt coverage indicators remained relatively weak. Moreover, the company's profit margins remain vulnerable to the volatility in key raw material prices and also to the adverse movement in foreign currency exchange rates. PTG Technopak Private Limited (PTG or the company), incorporated in 2016, is wholly owned by the promoter group company of the Padia Group. The company commenced commercial operations in February 2017 and manufactures high-density polyethylene (HDPE) drums/barrels and containers. PTG's manufacturing facility is in Ambala, Haryana. The key managing promoter of PTPL, Mr. Amit Padia, has ~15 years of experience in manufacturing plastic-moulded products and direct marketing of products for industrial packaging. RIDDHI SIDDHI: ICRA Reaffirms B+ Rating on INR13cr LT Loan ---------------------------------------------------------- ICRA has reaffirmed ratings on certain bank facilities of Riddhi Siddhi Cotfiber Private Limited (RSCPL), as: Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long-term Fund Based Limits 13.00 [ICRA]B+ (Stable) reaffirmed Long-term Proposed Unallocated Limits 2.85 [ICRA]B+ (Stable) reaffirmed Rationale The rating reaffirmation for RSCPL continues to take into account the modest financial risk profile of the company, characterised by low-profit margins, stretched capital structure and weak coverage indicators. The ratings are also constrained by volatility in revenues as witnessed by moderation in scale of operation of the company in FY2023 on account of unfavourable market conditions in terms of raw material prices leading to lower production and subsequent lower sales. The rating also factors in the vulnerability of the company's profitability to fluctuations in raw material prices (raw cotton), considering the inherently low value-added ginning and crushing business and the stiff competition in the cotton ginning industry. Further, it is exposed to various regulatory risks such as the minimum support price (MSP), which is set by the Government, as well as availability of cotton and related agro-climatic risks. The rating, however, continues to favourably factor in the extensive experience of the promoters in the cotton ginning industry and the proximity of the company's manufacturing unit to raw material sources. The Stable outlook on the [ICRA]B+ rating reflects ICRA's opinion that RSCPL will continue to maintain its business positioning in the cotton ginning industry. Key rating drivers and their description Credit strengths * Extensive experience of promoters in cotton ginning industry: The promoters of RSCPL have over a decade of experience in the cotton ginning industry, resulting in established relationships with customers. * Location-specific advantages: The company is based in Rajkot (Gujarat), an area of high cotton acreage and quality cotton crops. Hence, the company benefits in terms of lower transportation costs and easy access to quality raw material because of its proximity to raw material suppliers. Credit challenges * Small scale of operations; moderation witnessed in FY2023: The company's scale of operation declined significantly in FY2023 to INR 62.4 crore (provisional) in FY2023 from INR95.8 crore in FY2022 on account of unfavourable market conditions in terms of raw material prices leading to lower production and subsequent lower sales. This reflects the business volatility the company is exposed to in terms of its revenue profile. * Modest financial risk profile: The operating profitability remained subdued at 1.8% in FY2023 against 1.7% in FY2022 because of limited value addition and commoditised nature of the business. The capital structure remained leveraged, with gearing at 2.6 times as on March 31, 2023 on a provisional basis. Low profitability and high debt level resulted in weak debt protection metrics, as evident from TD/OPBITDA of 14.3 times, TOL/TNW of 2.7 times and an NCA/TD of 3.2% as on March 31, 2023, on a provisional basis. * Profitability remains vulnerable to fluctuations in raw material prices and regulatory changes: The profit margins for the company remain vulnerable to fluctuations in raw cotton prices, which depend on various factors such as seasonality, climatic conditions, global demand and supply situation, and export policy. The company also remains exposed to regulatory risks for the MSP set by the Government. * Intense competition and fragmented industry structure: The cotton ginning and crushing industry is highly fragmented with numerous small to mid-sized players in the field. Thus, the company faces stiff competition, which limits its bargaining power and exerts pressure on its margins. * Business operations remains vulnerable to availability of cotton and related agro-climatic risks: RSCPL's business is exposed to agro-climatic risks as availability of cotton is seasonal and the pricing is subject to the demand-supply scenario, with the cotton season typically running from mid-September to March. Liquidity position: Stretched The overall liquidity position remains stretched with high working capital requirements due to high inventory levels and impending debt repayments. Given the low profitability levels and volatility in topline, the debt repayments remain tightly matched with cash accruals, necessitating promoter support in case of cash flow mismatches. Rating sensitivities Positive factors – ICRA could upgrade RSCPL's rating if the company significantly scales up its operations and profitability, leading to improvement in the overall financial profile and liquidity position. Negative factors – Negative pressure on RSCPL's rating could arise if there is a substantial decline in revenues and profitability, along with any major debt-funded capex or stretch in working capital cycle further deteriorating the capital structure and liquidity position. Incorporated in 2013, Riddhi Siddhi Cotfiber Private Limited is in the business of ginning and pressing raw cotton for cotton bales and cotton seeds. It also crushes cotton seeds to produce cotton seed oil and cotton seed oil cakes. The company's manufacturing facility in Rajkot district, Gujarat, is equipped with 48 ginning machines and 18 crushing machines. S.R INDUSTRIES: CRISIL Keeps D Debt Ratings in Not Cooperating -------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of S.R Industries Limited (SRIL) continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 7.92 CRISIL D (ISSUER NOT COOPERATING) Cash Credit 10.08 CRISIL D (ISSUER NOT COOPERATING) Letter of Credit 1 CRISIL D (ISSUER NOT COOPERATING) Letter of Credit 1.35 CRISIL D (ISSUER NOT COOPERATING) Proposed Short Term 0.84 CRISIL D (ISSUER NOT Bank Loan Facility COOPERATING) Rupee Term Loan 8.73 CRISIL D (ISSUER NOT COOPERATING) Rupee Term Loan 7.13 CRISIL D (ISSUER NOT COOPERATING) Standby Letter 0.40 CRISIL D (ISSUER NOT of Credit COOPERATING) CRISIL Ratings has been consistently following up with SRIL for obtaining information through letter and email dated March 25, 2023 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 SRIL, which restricts CRISIL Ratings' ability to take a forward looking view on the entity's credit quality. CRISIL Ratings believes that rating action on SRIL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of SRIL continues to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. SRIL was set up by Mr. R C Mahajan and Mr. Yash Mahajan in 1989; it is a contract manufacturer of footwear. It sold its terry towel business in April 2012 to focus on the footwear business. SRIL also manufactures footwear under its own brands, Red Zone and Front Foot. SANGAM HEALTH: CRISIL Keeps D Debt Ratings in Not Cooperating ------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Sangam Health Care Products Limited (SHCPL) continue to be 'CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 5 CRISIL D (ISSUER NOT COOPERATING) Funded Interest 2.84 CRISIL D (ISSUER NOT Term Loan COOPERATING) Long Term Loan 5 CRISIL D (ISSUER NOT COOPERATING) Working Capital 17.16 CRISIL D (ISSUER NOT Term Loan COOPERATING) CRISIL Ratings has been consistently following up with SHCPL for obtaining information through letter and email dated March 31, 2023 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 SHCPL, which restricts CRISIL Ratings' ability to take a forward looking view on the entity's credit quality. CRISIL Ratings believes that rating action on SHCPL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of SHCPL continues to be 'CRISIL D Issuer Not Cooperating'. Established in 1993 as a private company, SHCPL is engaged in manufacturing of healthcare equipments like IV sets, disposable Syringes, etc. SHCPL is promoted by Mr. Addepalli Balagopal. SHAARC PROJECTS: ICRA Lowers Rating on INR8.0cr ST Loan to D ------------------------------------------------------------ ICRA has downgraded the ratings on certain bank facilities of Shaarc Projects Limited (SPL), as: Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long-term– 3.50 [ICRA]D; ISSUER NOT COOPERATING; Fund based Rating downgraded from Cash Credit [ICRA]B+ (Stable) and continues to remain under 'Issuer Not Cooperating' category Long-term– 2.50 [ICRA]D; ISSUER NOT COOPERATING; Fund based Rating downgraded from Term Loan [ICRA]B+ (Stable) and continues to remain under 'Issuer Not Cooperating' category Short-term– 8.00 [ICRA]D; ISSUER NOT COOPERATING; Fund based Rating downgraded from [ICRA]A4 and continues to remain under 'Issuer Not Cooperating' category * Material event: The rating downgrade reflects Delay in Debt Repayment as mentioned in the publicly available sources. * Impact of material event: The rating is based on limited information on the entity's performance since the time it was last rated in September 2022. The lenders, investors and other market participants are thus advised to exercise appropriate caution while using this rating as the rating may not adequately reflect the credit risk profile of the entity, despite the downgrade. ICRA has been trying to seek information from the entity so as to monitor its performance. Further, ICRA has been sending repeated reminders to the entity for payment of surveillance fee that became due but despite repeated requests by ICRA, the entity's management has remained non-cooperative. The current rating action has been taken by ICRA basis best available/dated/limited information on the issuers' performance. Accordingly, the lenders, investors and other market participants are advised to exercise appropriate caution while using this rating as the rating may not adequately reflect the credit risk profile of the entity. The rating action has been taken in accordance with ICRA's policy in respect of non-cooperation by a rated entity available at www.icra.in. Incorporated in 2013, Shaarc Projects Limited (SPL) is engaged in civil construction work for oil refineries, power plants, gas bottling plants, water pipeline projects, commercial and residential projects etc. The company is a AA class contractor. The key promoters, Mr. Rameshwar R. Mishra and Mr. Ajesh Kumar, have extensive experience of over two decades in the civil construction business through their association with other companies in the same line of business. SHUBHI AGRO: CRISIL Keeps D Debt Ratings in Not Cooperating ----------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Shubhi Agro Industries Limited (SAIL) continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Non Convertible 52.5 CRISIL D (ISSUER NOT Debentures COOPERATING) Bank Guarantee 1 CRISIL D (ISSUER NOT COOPERATING) Cash Credit 20 CRISIL D (ISSUER NOT COOPERATING) Proposed Long Term 53.55 CRISIL D (ISSUER NOT Bank Loan Facility COOPERATING) Term Loan 6.79 CRISIL D (ISSUER NOT COOPERATING) Term Loan 9 CRISIL D (ISSUER NOT COOPERATING) Term Loan 2.76 CRISIL D (ISSUER NOT COOPERATING) Term Loan 4.4 CRISIL D (ISSUER NOT COOPERATING) CRISIL Ratings has been consistently following up with SAIL for obtaining information through letter and email dated March 31, 2023 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 SAIL, which restricts CRISIL Ratings' ability to take a forward looking view on the entity's credit quality. CRISIL Ratings believes that rating action on SAIL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of SAIL continues to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. Incorporated in 2007 and promoted by Mr Nandkishore Attal, SAIL (formerly, Vaishno Devi Dairy Products Pvt Ltd) processes milk into milk concentrate, ghee, butter, skimmed milk powder, dairy whitener, curd, and paneer. The manufacturing facilities in Sahajpur near Pune, Maharashtra, have a milk-processing capacity of 0.7 million litre per day. SIVA SAI: CARE Assigns D Rating to INR46cr LT/ST Bank Debts ----------------------------------------------------------- CARE Ratings has assigned rating to the bank facilities of Siva Sai Marine (SSM), as: Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 13.65 CARE D Assigned Facilities Long Term/ 46.00 CARE D/CARE D; Assigned Short Term Bank Facilities Rationale and key rating drivers The ratings assigned to the bank facilities of SSM takes into account delays in payment of interest of GECL loans due to stretching of payment from debtors leading to poor liquidity position. Rating sensitivities: Factors likely to lead to rating actions Positive factors * Delays/Defaults free track record of 90 days * Infusion of capital/unsecured loans to improve liquidity position Analytical approach: Standalone Outlook: Not Applicable Detailed description of the key rating drivers: Key weaknesses * Delay in debt servicing: There has been delay in servicing of debt obligations due to poor liquidity position. Liquidity: Poor The firm has poor liquidity position marked by delays in payment of interest for GECL loans. Siva Sai Marine (SSM) was incorporated on April 20, 2019 by Mr. Narendra Reddy. The entity's business activities involve processing and export of frozen shrimps of various counts, species, and variants. primarily to the European Union, Russia and other export markets. SSM has setup its unit with an annual processing (and freezing) capacity of 2,700 Metric Tonne equipped with the latest technology of Individual Quick Freezing (IQF) at Guntur district of Andhra Pradesh. The export of frozen, IQF and Block Frozen Shrimps of various counts, species and variants The firm has a group company Siva Vaishnavi Marine Pvt Ltd, engaged in a similar business. SURYAVANSHI SPINNING: CRISIL Keeps D Ratings in Not Cooperating --------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Suryavanshi Spinning Mills Limited (SSML) continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Bank Guarantee 0.33 CRISIL D (Issuer Not Cooperating) Bank Guarantee 0.33 CRISIL D (Issuer Not Cooperating) Cash Credit 4.3 CRISIL D (Issuer Not Cooperating) Cash Credit 10.03 CRISIL D (Issuer Not Cooperating) Corporate Loan 10.43 CRISIL D (Issuer Not Cooperating) Long Term Loan 4.48 CRISIL D (Issuer Not Cooperating) Long Term Loan 2.13 CRISIL D (Issuer Not Cooperating) Long Term Loan 2.79 CRISIL D (Issuer Not Cooperating) Long Term Loan 0.35 CRISIL D (Issuer Not Cooperating) Proposed Long Term 4.83 CRISIL D (Issuer Not Bank Loan Facility Cooperating) CRISIL Ratings has been consistently following up with SSML for obtaining information through letter and email dated March 25, 2023 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 SSML, which restricts CRISIL Ratings' ability to take a forward looking view on the entity's credit quality. CRISIL Ratings believes that rating action on SSML is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of SSML continues to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. SSML was established in 1978 and had been engaged in the production of yarn and garments and has installed capacity of 1,11,584 spindles and 21 lakh pieces of garments annually spread at three facilities ' Bhongir (Telangana), Aliabad (Telangana) and Rajna (Madhya Pradesh). The company is listed on the Bombay Stock Exchange. TENTIWALA METAL: CRISIL Keeps D Debt Ratings in Not Cooperating --------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Tentiwala Metal Products Limited (TMPL) continue to be 'CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Bank Guarantee 4 CRISIL D (ISSUER NOT COOPERATING) Overdraft Facility 17.30 CRISIL D (ISSUER NOT COOPERATING) Term Loan 8.15 CRISIL D (ISSUER NOT COOPERATING) CRISIL Ratings has been consistently following up with TMPL for obtaining information through letter and email dated March 25, 2023 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 TMPL, which restricts CRISIL Ratings' ability to take a forward looking view on the entity's credit quality. CRISIL Ratings believes that rating action on TMPL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of TMPL continues to be 'CRISIL D Issuer Not Cooperating'. Incorporated in 1994, TMPL is owned and managed by Mr. Radhapad Tetiwala. It manufactures submersible copper winding wires, aluminium extrusions, and enamelled copper wires. Its plant is in Mathura, Uttar Pradesh. UPPER INDIA: CARE Keeps D Debt Ratings in Not Cooperating Category ------------------------------------------------------------------ CARE Ratings said the ratings for the bank facilities of Upper India Steel Manufacturing & Engineering Company Limited (UISMECL) continue to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 44.70 CARE D; ISSUER NOT COOPERATING Facilities Rating continues to remain under ISSUER NOT COOPERATING category Short Term Bank 19.90 CARE D; ISSUER NOT COOPERATING Facilities Rating continues to remain under ISSUER NOT COOPERATING category Rationale & Key Rating Drivers CARE Ratings Ltd. had, vide its press release dated June 14, 2022, placed the rating(s) of UISMECL under the 'issuer non-cooperating' category as UISMECL had failed to provide information for monitoring of the rating and had not paid the surveillance fees for the rating exercise as agreed to in its Rating Agreement. UISMECL continues to be non-cooperative despite repeated requests for submission of information through e-mails, phone calls and a letter/email dated April 30, 2023, May 10, 2023, May 20, 2023. In line with the extant SEBI guidelines, CARE Ratings Ltd. has reviewed the rating on the basis of the best available information which however, in CARE Ratings Ltd.'s opinion is not sufficient to arrive at a fair rating. Users of this rating (including investors, lenders and the public at large) are hence requested to exercise caution while using the above rating(s). Upper India Steel Manufacturing & Engineering Company Ltd (UISMECL) was incorporated in 1961 as a private limited company and was subsequently converted to a closely held public limited company in 1983. The company is promoted and managed by Mr. Pritpal Singh Grewal and Mr. Gursimran Singh Grewal and is engaged in the manufacturing of specialized steel products for various automotive ancillaries, Indian railways and engineering goods industry, at its manufacturing facility situated at Ludhiana, Punjab. VS LIGNITE: ICRA Withdraws D Rating on INR203.19cr LT Loan ---------------------------------------------------------- ICRA has withdrawn the Long-term and Short-term ratings assigned to VS Lignite Power Private Limited at the request of the company and based on the No Objection certificate (NOC) received from its banker. However, ICRA does not have adequate information to suggest that the credit risk has changed since the time the rating was last reviewed. The Key Rating Drivers, Liquidity Position, Rating Sensitivities, Key financial indicators have not been captured as the rated instruments are being withdrawn. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long-term– 50.00 [ICRA]D; ISSUER NOT COOPERATING; Fund based Withdrawn Cash Credit Long-term– 72.56 [ICRA]D; ISSUER NOT COOPERATING; Fund based Withdrawn Term Loan Long Term- 203.19 [ICRA]D; ISSUER NOT COOPERATING; Unallocated Withdrawn Short Term- 10.00 [ICRA]D; ISSUER NOT COOPERATING; Non-Fund Withdrawn Based Others VSLPL is a special purpose vehicle (SPV) promoted by KSK Electricity Financing India Pvt. Ltd. (KEFIPL), a power project investment arm under Hyderabad-based KSK group. VSLPL operates a lignite fired power plant with an installed capacity of 135 MW in Bikaner district of Rajasthan. The power plant commissioned in July 2010 sources fuel from a captive lignite mine. The project does not have a long-term PPA. ================= I N D O N E S I A ================= PERUSAHAAN PENGELOLA: Fitch Affirms 'BB+' IDRs, Outlook Stable -------------------------------------------------------------- Fitch Ratings has affirmed PT Perusahaan Pengelola Aset's (PPA) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BB+' and National Long-Term Rating at 'AA(idn)'. The Outlook is Stable. Concurrently, Fitch has affirmed at 'AA(idn)' PPA's IDR890.6 billion 7.0% senior unsecured notes due July 2025 and IDR791.6 billion 7.8% senior unsecured notes due July 2027. Fitch continues to assess PPA's Standalone Credit Profile (SCP) at 'b+' based on PPA's stable financial profile. 'AA(idn)' National Rating denote expectations of a very low level of default risk relative to other issuers or obligations in the same country or monetary union. The default risk inherent differs only slightly from that of the country's highest rated issuers or obligations. Fitch is withdrawing PPA's US dollar note rating of 'BB+' as the notes were cancelled. KEY RATING DRIVERS Status, Ownership and Control: 'Very Strong' Fitch's assessment reflects PPA's full state ownership and the government's scrutiny and control of its operational and financial activities. Government control remains intact following a 2022 share split, which resulted in PT. Danareksa (Persero) purchasing PPA's Series B shares, as the government retains de facto ownership, regardless of the share split. Major shareholder decisions are subject to government approval, given its Series A shares. Support Track Record: 'Very Strong' PPA has received consistent government capital injections since 2004 and there are no regulatory restrictions on the provision of government support. This supports the likelihood of additional government support, if needed. The government's capital injections aim to promote state-owned enterprise (SOE) restructuring and revitalisation by enabling PPA to provide favourable interest rates to distressed SOEs. Favourable government support, such as through high barriers to entry - PPA is the sole entity in the sector - provided PPA a stable operating environment without market competition. Socio-Political Implications of Default: 'Moderate' PPA is the only government institution mandated to manage state-owned enterprise (SOE) restructuring and non-performing loan (NPL) management of the banking sector; thus, there is no immediate substitute for SOE restructuring and NPL management. Therefore, Fitch expect that a PPA default would provide temporary disruption to the government's plan on these policy roles to some extent. However, the assessment is limited at 'Moderate' due to relatively low size of the current NPLs under its management. Financial Implications of Default: 'Moderate' PPA's market debt relative to Indonesia's GDP is smaller than that of other government-related entities (GREs) in the country. This implies that a PPA default would have only a 'Moderate' impact on the availability and cost of finance for other GREs. However, Fitch believes the government has sufficient incentive to retain PPA's access to market funding, otherwise, it would have to be funded by the government or private sector, which would be unviable under the current SOE restructuring policy. Standalone Credit Profile Revenue Defensibility 'Weaker' Fitch has changed its assessment of revenue defensibility to 'Weaker', from 'Midrange', following the 2022 disposal of PPA's majority ownership in Nindya Karya group, which comprised manufacturing and construction companies. The disposal reduced PPA's revenue diversification and increased its exposure to volatile demand from the construction services segment, which saw revenue drop by 69% to IDR0.4 trillion in 2022. As the transformation is still ongoing, Fitch expect the company to remain exposed to high volatility in demand. Revenue from NPL management soared to IDR685 billion in 2022, from IDR131 billion in 2021. Fitch expects the company to gradually increase its revenue and profitability through its main business of SOE and NPL recovery management. Following PPA's greater focus on NPL management in the coming years, Fitch expects greater diversification in revenue sources in the company's portfolio in the next five years as PPA intends to put more focus on NPL management. Operating Risk 'Midrange' Identified cost drivers, mainly interest and employee expenses, have exhibited low volatility, averaging at 20% of operating expenditure in the last two years. After the disposal of its ownership in Nindya Karya group, Fitch expect PPA's expenditure structure will change significantly, with higher contribution from core business-related, interest and employee expenses to the total operating expenditure. PPA states that its debt is entirely at fixed interest rates. This should limit cost fluctuation, which should be further supported by PPA's SOE status, especially in the domestic market. In addition, PPA's business is not capex intensive and its strong local presence, which lets it borrow at more favourable rates, should partly offset the risks from rising interest rates. Financial Profile 'Weaker' PPA's revenue fell by 69% after the disposal of its stake in Nindya Karya group. However, PPA booked a higher margin in 2022, with EBITDA/operating revenue of 10.6% (2021: 3.4%), as Nindya Karya had a relatively low margin. EBITDA stood at IDR0.2 trillion, similar to 2021, and covered interest expenses by 11.4x, against an average of 5.0x in the past four years. Fitch forecast net adjusted debt/EBITDA at 1.1x and 7.8x in 2023 and 2027, respectively. The attribute assessment is underpinned by the 'Weaker' revenue defensibility, 'Midrange' operating risk assessment and leverage forecast for 2027. Derivation Summary PPA's Long-Term Foreign-Currency IDR reflects Fitch assessment of its government linkage and support incentive, resulting in a weighted score of 30 based on Fitch GRE Rating Criteria. The rating is notched down twice from the sponsor, the Indonesian government (BBB/Stable). Fitch assess the SCP under Fitch Public Sector, Revenue-Supported Entities Rating Criteria. PPA's National-Long Term Rating is derived from its Long-Term Local-Currency IDR. National Ratings Sovereign support is reflected in the National Long-Term Rating, as PPA's credit profile is stronger on a supported basis than on a standalone basis. The support assessment underpins PPA's top-down rating. Issuer Profile PPA is Indonesia's only public-policy asset management institution. The Ministry of State-Owned Enterprises administers PPA, which manages the assets of distressed SOEs. PPA was established to continue the work of the Indonesian Bank Restructuring Agency, which was created in the aftermath of the Asian financial crisis in 1998. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade -- A multiple-notch downgrade of the Indonesian sovereign rating -- A deterioration in the linkage to the government or the government's incentive to provide support -- A downgrade of PPA's National Long-Term Rating would result in similar action on its national long-term senior unsecured issue ratings Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade -- An upgrade of the Indonesian sovereign or increased incentive for the government to provide support -- An improvement in PPA's SCP -- An upgrade of PPA's National Long-Term Rating would result in similar action on its national long-term senior unsecured issue ratings 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. =============== M O N G O L I A =============== DEVELOPMENT BANK: Fitch Affirms 'B' Long Term IDRs, Outlook Stable ------------------------------------------------------------------ Fitch Ratings has affirmed the Long-Term Issuer Default Ratings (IDRs) of Mongolia's policy bank, Development Bank of Mongolia LLC (DBM), at 'B'. The Outlook is Stable. Fitch have also affirmed DBM's Government Support Rating (GSR) at 'b'. KEY RATING DRIVERS Support-Driven Ratings: DBM's IDRs and GSR are equalised with the IDRs of the Mongolian sovereign (B/Stable), reflecting Fitch assessment that the state has a strong propensity to provide support for the bank, if required. This stems from DBM's policy role, full state ownership, and close linkages with the government. The Mongolian state remains the sole shareholder and the Ministry of Finance chairs the bank's board, overseeing DBM's operations. Policy Role to Support Economy: DBM, as the only policy financial institution in Mongolia, has a specific mandate to finance projects in important sectors that support the economy, as per the Development Bank of Mongolia Act. DBM plays an important role in financing development projects initiated under the government's New Revival Policy to improve Mongolia's transport infrastructure and enhance its energy capacity in the medium-to-long term. Fitch expect DBM to continue to perform its policy role after the issue of its refinancing of upcoming bond maturities is resolved. State Support in Bond Repayment: The DBM Act states the government's power to take measures to ensure the sustainability of DBM's finances and solvency. Fitch believe various forms of support from the government for DBM will be available if needed. The Stable Outlook of DBM's IDRs reflects Fitch expectation that the bank will honour the obligations of its debt with the state's support, if needed. Parliament has granted permission for the state to issue debt guarantees for DBM's borrowings, if necessary, for the purpose of bond refinancing. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade Any negative rating action on the sovereign's IDRs would directly prompt similar action on DBM's ratings. DBM's Long-Term IDRs and GSR may also be notched down from the sovereign rating if Fitch believe that the sovereign has lower propensity to support the bank, even if the ability to support remains unchanged. This could happen if the bank's policy role were to diminish, the state's stake in the bank were to fall significantly, or the linkages between the two were to weaken. Fitch do not expect these scenarios to occur in the foreseeable future. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade An upgrade of DBM's Long-Term IDRs and GSR is likely if Fitch were to upgrade the rating of the Mongolian sovereign, assuming no changes in the sovereign's propensity to provide support. OTHER DEBT AND ISSUER RATINGS: KEY RATING DRIVERS Fitch equalises the rating on the senior unsecured debt with DBM's Long-Term IDR as they constitute direct, unsecured and unsubordinated obligations of the bank. They rank pari passu with DBM's other unsecured and unsubordinated obligations, and they are subordinated to the secured debt of the bank and the secured obligations of its subsidiaries. Fitch believe there is a strong incentive for the state to provide support for the bank, including its obligations, if required, as the creditworthiness of DBM and the sovereign are closely linked. The Recovery Rating of 'RR4' indicates typical recovery prospects of 31%-50%. OTHER DEBT AND ISSUER RATINGS: RATING SENSITIVITIES The rating of the senior unsecured debt is sensitive to DBM's Long-Term IDR, which would be led by a change in the sovereign's IDRs or a change in Fitch's view on DBM's linkages with the government, including state ownership. The senior debt rating would be downgraded if the Long-Term IDR is downgraded on any indication that the government's propensity to provide support has diminished, which is not Fitch base-case scenario. The Recovery Rating of the debt is sensitive to Fitch's assessment of potential recoveries for creditors in the case of default or non-performance. It could be downgraded if there is a change in Fitch's assumptions on the quality or the recovery rates of the assets. BEST/WORST CASE RATING SCENARIO International scale credit ratings of Financial Institutions and Covered Bond issuers have a best-case rating upgrade scenario (defined as the 99th percentile of rating transitions, measured in a positive direction) of three notches over a three-year rating horizon; and a worst-case rating downgrade scenario (defined as the 99th percentile of rating transitions, measured in a negative direction) of four notches over three years. The complete span of best- and worst-case scenario credit ratings for all rating categories ranges from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are based on historical performance. REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING The principal sources of information used in the analysis are described in the Applicable Criteria. PUBLIC RATINGS WITH CREDIT LINKAGE TO OTHER RATINGS The bank's IDRs are driven by Fitch view of the likelihood of support from the Mongolian sovereign. 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. KHAN BANK LLC: Fitch Affirms 'B' Long Term IDR, Outlook Stable -------------------------------------------------------------- Fitch Ratings has affirmed Mongolia-based Khan Bank LLC's Long-Term Issuer Default Ratings (IDRs) at 'B' and Viability Rating (VR) at 'b'. The Outlook is Stable. Fitch also affirmed the Government Support Rating (GSR) at 'b'. KEY RATING DRIVERS IDRs Reflect VR and GSR: Khan Bank's Long-Term IDRs are at the same level as its VR and GSR, which are in line with Mongolia's sovereign rating (B/Stable). The sovereign risks are incorporated into Khan Bank's VR through the operating environment (OE) score and the level of government support. Fitch expect Khan Bank to maintain its intrinsic credit profile while maintaining its stable financial profile, alongside Mongolia's economic growth in the medium term. Growth Prospects Support OE: Fitch expects Mongolian banks to benefit from the medium-term growth prospects in Mongolia's economy, supported by mining and infrastructure projects (e.g. Oyu-Tolgoi underground mining). Trade disruptions have eased with commodity exports to China rebounding after the border restrictions lifted. Fitch expect the banking sector's stability to remain a key priority of the authorities, which includes the implementation of international standards to strengthen banks' capital assessment and management. Substantial Domestic Franchise: Fitch's 'b+' assessment of Khan Bank's business profile score is a notch higher than the OE score, benefitting from its substantial franchise in Mongolia with market share by assets of around 33% at end-2022. The benefits are visible in Khan Bank's higher-than-peer operating income and overall better performance than that of other Mongolian banks, mitigating some of the OE challenges to the bank's business model, such as changes in the economic environment, regulatory framework and the state's policies. Loan Growth to Pick Up: Fitch expect Khan Bank's loan growth to rise in 2023, given the recovery in business momentum after border restrictions by China ended, although growth is not likely to reach 2021 levels. Loan growth slowed to 14% in 2022, from the 33% in 2021, when government implemented a support loan programme. Fitch expect Khan Bank to maintain its appetite for lending to historically high-risk sectors, such as construction and mining, while the bank is likely to be cautious in lending to trade-related sectors due to continued geopolitical tensions. Manageable Asset-Quality Risk: Fitch expect Khan Bank to manage its asset quality risks well despite downside risks from high inflation and geopolitical tension. Its impaired-loan ratio was stable at 5.3% at end-2022 and was lower that of the system and its peers. The loan loss allowance, including those Khan Bank provided for stage 2 loans, rose to about 134.7% of impaired loans in 2022 (2021: 115.7%). Steady Profitability: Fitch expect the outlook for the bank's earnings and profitability score to be stable, supported by strong medium-term economic growth. The net interest margin is likely to come under pressure in the near term as funding costs are picking up due to higher policy rates as well as increasing competition. Fitch believe the potential near-term increase in credit costs to be manageable for Khan Bank. Operating profit/risk-weighted assets rose to 6.8% in 2022 from 5.1% in 2021 on higher net interest income driven by solid loan growth. Capitalisation to Improve: Khan Bank's Fitch Core Capital (FCC) ratio increased to 17.0% in 2022, from 16.1% end-2021, while its Tier 1 capital ratio rose to 16.7% from 15.6%, both due to improved earnings and manageable operating costs. Fitch expect the ratios to improve further given the bank's strong internal capital generation capacity and high level of loan loss allowance to mitigate asset-quality risks. The proceeds from its IPO are likely to offset dividend payouts in 2023. Fitch believe high dividend payouts will be a risk if they significantly deplete capital levels amid strong loan growth. Domestic Franchise Supports Funding: Fitch expects the funding and liquidity profile to remain adequate, anchored by the bank's substantial domestic franchise. The bank accounted for over 35% of system deposits at end-2022. Term funding from international financial institutions comprised 10% of the bank's total funding at end-2022 (2021: 6.7%). Fitch reassessed the funding and liquidity score to 'b', at the same level of sovereign rating, from 'b+' to capture the bank's material exposures to the state. State Favours Support: Fitch equalised the GSR with the sovereign rating, reflecting Fitch assessment that the sovereign - for its given ability to provide support - has a higher propensity to provide extraordinary support to Khan Bank than to other domestic systemically important banks. The equalisation with the sovereign rating is largely based on the bank's systemic importance due to its size and large share of customer deposits. Mongolia's re-capitalisation law provides grounds for sovereign support as well as for a bail-in, should any domestic systemically important bank need it. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade IDRS and VR Khan Bank's Long-Term IDRs could be downgraded if both its VR and the GSR are downgraded. A sovereign rating downgrade is highly likely to lead to a corresponding downgrade in Khan Bank's GSR, Long-Term IDRs and VR, given the bank's substantial direct and indirect exposure to sovereign credit. Khan Bank's VR could also be downgraded if its business profile were to be compromised by a structural weakening of its franchise and higher risk appetite, and a weaker economic environment that leads to deterioration in a combination of the following metrics: -- impaired loans/gross loans increasing above 10% for a sustained period (four-year average to 2022: 5.9%); -- operating profit/risk-weighted assets falling below 2% for a sustained period (four-year average to 2022: 4.9%); and -- the FCC ratio falling below 16%, while maintaining a high dividend payout, without a credible path to return the ratio above this level (end-2022: 17%). The GSR could be downgraded if Fitch assess that the sovereign's ability to provide support has weakened, which could be indicated by a sovereign downgrade. A downgrade could also be driven by Fitch view that the state's propensity to provide support has diminished, which could be driven by a significant decline in the bank's systemic importance and deposit market share, although this is not Fitch base case. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade IDRS and VR Khan Bank's Long-Term IDRs would be upgraded if its VR or GSR, or both, were upgraded. Khan Bank's VR is sensitive to developments in Mongolia's OE. A sovereign rating upgrade, combined with steady and significant progress towards a stronger legal and regulatory framework, could open up the possibility of a VR upgrade. The VR upgrade would then be more dependent on a sustained improvement in asset quality, with an impaired-loan ratio consistently below 5%, and the maintenance of the FCC ratio above 20%. The GSR is equalised with the sovereign rating. It can be upgraded only if the sovereign rating is upgraded and Fitch believe that the propensity of sovereign support has not diminished. BEST/WORST CASE RATING SCENARIO International scale credit ratings of Financial Institutions and Covered Bond issuers have a best-case rating upgrade scenario (defined as the 99th percentile of rating transitions, measured in a positive direction) of three notches over a three-year rating horizon; and a worst-case rating downgrade scenario (defined as the 99th percentile of rating transitions, measured in a negative direction) of four notches over three years. The complete span of best- and worst-case scenario credit ratings for all rating categories ranges from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are based on historical performance. REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING The principal sources of information used in the analysis are described in the Applicable Criteria. PUBLIC RATINGS WITH CREDIT LINKAGE TO OTHER RATINGS The bank's GSR is driven by Fitch view of the likelihood of support from the Mongolian sovereign. 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. XACBANK LLC: Fitch Affirms 'B' Long Term IDR, Outlook Stable ------------------------------------------------------------ Fitch Ratings has affirmed Mongolia-based XacBank LLC's Long-Term Issuer Default Ratings (IDRs) at 'B' and Viability Rating (VR) at 'b'. The Outlook is Stable. Fitch have also affirmed the Government Support Rating (GSR) at 'b-'. KEY RATING DRIVERS Intrinsic Profile Drives Ratings: XacBank's IDRs are driven by its standalone credit strength, which is represented by its VR. The VR considers the 'b' operating environment (OE) to reflect Mongolia's economic volatility and capture the risks of the sovereign. Fitch expects the bank to maintain its intrinsic credit profile in line with Mongolia's economic growth in the medium term. Growth Prospects Support OE: Fitch expects Mongolian banks to benefit from the medium-term growth prospects of Mongolia's economy, supported by mining and infrastructure projects such as the Oyu-Tolgoi underground mine. Trade disruptions have eased with commodity exports to China rebounding after pandemic-related border restrictions were lifted. Fitch expect the banking sector's stability to remain a key priority of the authorities, including the implementation of international standards to strengthen the banks' capital assessment and management. Significant Domestic Franchise: Fitch's assessment of XacBank's business profile score of 'b' reflects its significant franchise in Mongolia, with total asset market share of around 9% at end-2022. Fitch believe XacBank's business profile also benefits from the governance and oversight provided by the most diverse shareholding structure among local banks. However, the bank's business model is sensitive to key aspects of the OE, such as changes in the economic environment, regulatory framework and the state's policies. Steady Growth: Fitch expect the bank to maintain robust loan growth in the medium term as the country's economic growth gains momentum. XacBank's loans rose by 11% in 2022, slower than the 24% in 2021, mainly due to the scaling down of loans related to the government's support programme. Its capital ratio is the highest among close peers, which provides capacity for growth. Fitch expect the bank's loan expansion to accelerate in the near term as the economy is very sensitive to the lifting of China's border restrictions. Manageable Asset-Quality Risk: Fitch expect XacBank's asset-quality risk to be manageable despite the continuation of downside risks from high inflation and geopolitical tension. Its impaired-loan ratio fell to 4% by end-2022, from 4.6% at end-2021, and was lower than that of the system. The bank's loan-loss allowance coverage under the IFRS standard was stable at 90% at end-2022 (end-2021: 89%). Fitch have revised the asset-quality score to 'b' from 'b-' as the bank has sustained its impaired-loan ratio at a low level. Stable Profitability Outlook: Fitch expect the outlook on XacBank's earnings and profitability to be stable, supported by strong economic growth in the medium term. However, there is near-term pressure on the net interest margin as funding costs are picking up amid the higher policy rate as well as intensifying competition. XacBank's operating profit/risk-weighted assets jumped to 7.5% by end-2022 from 5.7% at end-2021 due to a solid improvement in net interest income. The strong profitability should enhance the bank's capacity to absorb potentially higher credit costs from asset-quality pressure. Higher-Than-Peer Capital Buffer: Better earnings in 2022 continued to support the bank's capital buffer, with the Fitch Core Capital (FCC) ratio rising to 23.0% by end-2022 from 20.0% at end-2021 and the Tier 1 capital ratio increasing to 20% from 17.1%. Fitch expect XacBank's capital ratio to decline gradually as Fitch expect its robust loan growth to consume the capital buffer, although Fitch expect XacBank to preserve a sufficient buffer. Nonetheless, excessively high loan growth and dividend payouts pose downside risks to the capital and leverage score if they lead to capital consumption that well exceeds Fitch expectations. The capitalisation and leverage score of 'b' is below the 'bb' category implied score, capturing Fitch view that the bank's business model is prone to risks and performance swings due to a volatile OE in Mongolia. Stable Deposit Franchise: Fitch expect XacBank's funding and liquidity profile to remain adequate for the current score, with a steady domestic franchise. Funding from international financial institutions formed 22% of the bank's total funding at end-2022. Its customer deposits rose by about 8% in 2022, maintaining the contribution of deposits to total funding at 73%. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade A sovereign rating downgrade is highly likely to lead to a corresponding downgrade in XacBank's Long-Term IDRs and VR, given the bank's substantial exposure to the sovereign's credits directly or indirectly. XacBank's ratings could also be downgraded if the VR is downgraded as its business profile is compromised by a structural weakening of its franchise and higher risk appetite. A downgrade could also come from a weaker economic environment that leads to deterioration through a combination of the following financial metrics: -- impaired loans/gross loans increasing and sustained above 10% (four-year average to 2022: 5.1%); -- operating profit/risk-weighted assets falling and sustained below 2% (four-year average to 2022: 4.2%); and/or -- the FCC ratio declining below 16% without a credible path to return above this level (end-2022: 23%). Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade XacBank's IDRs are driven by its VR, which is sensitive to developments in Mongolia's OE. A sovereign rating upgrade, combined with steady and significant progress towards a stronger legal and regulatory framework, could open up the possibility of positive rating action for XacBank, provided this is accompanied by sustained profitability, with operating profit/risk-weighted assets above 3.5%, and capitalisation, with its FCC ratio consistently above 20%, while loan quality is maintained at the current level. Limited Government Ability to Support: The GSR of 'b-' is a notch below the sovereign rating, reflecting Fitch's view that while there is government propensity to provide extraordinary support based on the bank's status as one of the country's domestic systemically important banks (D-SIBs), it cannot be relied upon because of the significant uncertainties over the ability of the state to support XacBank. Mongolia's re-capitalisation law provides grounds for sovereign support as well as for a bail-in should any D-SIB need it, while XacBank is relatively small among the five D-SIBs. The bank's GSR is sensitive to changes in the sovereign rating or Fitch assumptions of the sovereign's propensity to provide support, which could be triggered by a change in the bank's systemic importance. VR ADJUSTMENTS The capitalisation and leverage score of 'b' has been assigned below the 'bb' category implied score due to the following adjustment: risk profile and business model (negative). BEST/WORST CASE RATING SCENARIO International scale credit ratings of Financial Institutions and Covered Bond issuers have a best-case rating upgrade scenario (defined as the 99th percentile of rating transitions, measured in a positive direction) of three notches over a three-year rating horizon; and a worst-case rating downgrade scenario (defined as the 99th percentile of rating transitions, measured in a negative direction) of four notches over three years. The complete span of best- and worst-case scenario credit ratings for all rating categories ranges from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are based on historical performance. REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING The principal sources of information used in the analysis are described in the Applicable Criteria. PUBLIC RATINGS WITH CREDIT LINKAGE TO OTHER RATINGS The bank's GSR is driven by Fitch view of the likelihood of support from the Mongolian sovereign. 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. ===================== N E W Z E A L A N D ===================== BOTTOM BUS: Creditors' Proofs of Debt Due on Aug. 2 --------------------------------------------------- Creditors of Bottom Bus Limited are required to file their proofs of debt by Aug. 2, 2023, to be included in the company's dividend distribution. The company commenced wind-up proceedings on July 2, 2023. The company's liquidator is: Brenton Hunt PO Box 13400 City East Christchurch 8141 CLARKIN GOAT: Court to Hear Wind-Up Petition on Aug. 7 ------------------------------------------------------ A petition to wind up the operations of Clarkin Goat Company Limited will be heard before the High Court at Hamilton on Aug. 7, 2023, at 10:45 a.m. Dairy Goat Co-Operative (N.Z.) Limited filed the petition against the company on June 12, 2023. The Petitioner's solicitor is: Thomas Jarman Norris Ward McKinnon 711 Victoria Street Hamilton 3204 E1 WEB: Creditors' Proofs of Debt Due on July 31 ------------------------------------------------ Creditors of E1 Web and Mobile Marketing Solutions Limited and Aotearoa Digital Limited are required to file their proofs of debt by July 31, 2023, to be included in the company's dividend distribution. The companies commenced wind-up proceedings on June 27, 2023. The company's liquidators are: Adam Botterill Damien Grant Waterstone Insolvency PO Box 352 Auckland 1140 LONGRIDGE 2016: Creditors' Proofs of Debt Due on Aug. 3 ------------------------------------------------------- Creditors of Longridge 2016 Limited are required to file their proofs of debt by Aug. 3, 2023, to be included in the company's dividend distribution. The company commenced wind-up proceedings on July 3, 2023. The company's liquidator is: Brenton Hunt PO Box 13400 City East Christchurch 8141 PREMIUM PLASTERBOARD: Court to Hear Wind-Up Petition on July 27 --------------------------------------------------------------- A petition to wind up the operations of Premium Plasterboard Services Limited will be heard before the High Court at Dunedin on July 27, 2023, at 10:45 a.m. The Commissioner of Inland Revenue filed the petition against the company on May 9, 2023. The Petitioner's solicitor is: David Tasker Inland Revenue, Legal Services PO Box 1782 Christchurch 8140 VETERINARY PROFESSIONAL: A.M. Best Affirms B (Fair) FS Rating ------------------------------------------------------------- AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of "bb+" (Fair) of Veterinary Professional Insurance Society Incorporated (VPIS) (New Zealand). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect VPIS' balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. VPIS' balance sheet strength assessment is underpinned by its risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), which is at the strongest level. Despite this, the organization's regulatory solvency is expected to weaken to a marginal level above the requirement as of September 30, 2023, compared with 30 September 2022. This has been driven by a significant increase in VPIS' regulatory solvency requirement due to the loss of its regulatory small insurer status. Other offsetting balance sheet strength considerations include limited financial flexibility and a small absolute capital base (NZD 3.3 million as of September 30, 2023), which increase the sensitivity of the organization's capital adequacy to stress scenarios. Whilst VPIS’ reinsurance programme protects the organization against large single losses and aggregate exposure, the organization is viewed to have high reliance on reinsurance. AM Best views VPIS' operating performance to be adequate, with a five-year average return-on-equity ratio of 5.1% (fiscal years 2018-2022). The organization typically recorded an elevated combined ratio, which is reflective of its pricing strategy as a not-for-profit members' society. VPIS' expense ratio is heightened when compared with the industry average as a result of its size and investment in technology in recent years. Investment income remains a key driver of the organization's operating performance, with a five-year average net investment yield (including gains/losses) of 4.0% (fiscal years 2018-2022). VPIS is a not-for-profit organization that provides predominantly professional indemnity insurance to veterinarians in New Zealand. The organization's business profile assessment of limited reflects its small-scale operations, niche product focus and high geographic concentration. However, VPIS has a dominant market position in its targeted segment, supported by its highly specialized knowledge and experience in New Zealand's veterinary industry. ================= S I N G A P O R E ================= AIR PARTS: Creditors' Proofs of Debt Due on Aug. 7 -------------------------------------------------- Creditors of Air Parts Centre Pte. Ltd. are required to file their proofs of debt by Aug. 7, 2023, to be included in the company's dividend distribution. The company commenced wind-up proceedings on June 30, 2023. The company's liquidator is: Farooq Ahmad Mann c/o Mann & Associates PAC 3 Shenton Way #03-06C Shenton House Singapore 068805 AUSGROUP LIMITED: Court to Hear Wind-Up Petition on July 18 ----------------------------------------------------------- A petition to wind up the operations of AusGroup Limited will be heard before the High Court of Singapore on July 18, 2023, at 10:00 a.m. The Petitioner's solicitors are: Rev Law LLC 1D Duxton Hill Singapore 089587 GLF HOTEL: Placed in Voluntary Liquidation ------------------------------------------ Eunice Hooi Lai Fann of Boardroom Corporate & Advisory Services on June 28, 2023, was appointed as liquidator of Glf Hotel Management Holding Pte. Ltd. LUCY HOLDINGS: Creditors' Meeting Set for July 25 ------------------------------------------------- Lucy Holdings Pte Ltd will hold a meeting for its creditors on July 25, 2023, at 4:00 p.m., via video conferencing (Microsoft Teams or Zoom) Agenda of the meeting includes: a. to lay before the creditors a full statement of the affairs of the Companies, showing the assets and liabilities of the Companies; b. to confirm the appointment of Mr. Chan Yee Hong of CLA Global TS Risk Advisory Pte. Ltd., as Liquidator of the Company; c. to appoint a Committee of Inspection if deemed necessary; and d. Any other business. Mr. Chan Yee Hong was appointed as provisional liquidator of the company on June 21, 2023. SANANBIO SINGAPORE: Creditors' Proofs of Debt Due on Aug. 6 ----------------------------------------------------------- Creditors of Sananbio Singapore Pte. Ltd. are required to file their proofs of debt by Aug. 6, 2023, to be included in the company's dividend distribution. The company commenced wind-up proceedings on June 29, 2023. The company's liquidators are: Tan Wei Cheong Lim Loo Khoon 6 Shenton Way OUE Downtown 2, #33-00 Singapore 068809 ================= S R I L A N K A ================= SRI LANKA: Fitch Cuts IDR & Local Currency Bond Issue Rating to 'C' ------------------------------------------------------------------- Fitch Ratings has downgraded Sri Lanka's Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) to 'C' from 'CC'. The issue ratings on local-currency bonds have also been downgraded to 'C' from 'CC'. The Long-Term Foreign-Currency (LTFC) IDR has been affirmed at 'RD' (Restricted Default) and the Country Ceiling at 'B-'. Fitch typically does not assign Outlooks to ratings of 'CCC+' or below. KEY RATING DRIVERS Domestic Debt Restructuring Proposal Announced: The downgrade of Sri Lanka's LTLC IDR reflects Fitch's view that a sovereign local-currency debt restructuring process has begun, as parliament approved the government's domestic debt restructuring plan on July 1. On July 4, the authorities launched a formal exchange offer to bondholders for those bonds that are eligible for the restructuring. Restructuring Plan Outlined: The debt restructuring announcement outlines a domestic debt optimisation (DDO) strategy, which includes treatment of Sri Lanka's domestic debt as well as domestically issued foreign-currency debt. The key elements of the DDO includ: conversion of CBSL's T-bills and provisional advances to the government into treasury bonds (T-bonds); exchange of superannuation funds' T-bonds into longer maturity T-bonds; exchange of outstanding Sri Lanka development bonds (SLDBs), which are US-dollar denominated but governed by local law, into new US dollar or Sri Lankan rupee instruments; and, restructuring of local-law foreign-currency denominated bank loans of the government. The debt restructuring excludes banks' holdings of Sri Lankan rupee-denominated treasury securities, but bank holdings of SLDBs will be affected. DDO Qualifies as DDE: In Fitch's view, the proposed DDO will qualify as a distressed debt exchange (DDE) under Fitch criteria, as it entails a material reduction in terms and is needed to avoid a traditional payment default. Fitch will downgrade the LTLC IDR to 'RD' upon closing of the exchange offer and following confirmation that the exchange will be executed. The government plans to complete the exchange within July. Foreign Currency IDR in Default: The sovereign remains in default on foreign-currency obligations and has initiated a debt restructuring arrangement with official and private external creditors. The Ministry of Finance had issued a statement on April 12, 2022 that it had suspended normal debt servicing of several categories of external debt, including bonds issued in international capital markets, foreign currency-denominated loan agreements and credit facilities with commercial banks and institutional lenders. ESG - Governance: Sri Lanka has an ESG Relevance Score of '5' for Political Stability and Rights as well as for the Rule of Law, Institutional and Regulatory Quality and Control of Corruption. These scores reflect the high weight that the World Bank Governance Indicators (WBGI) have in Fitch proprietary Sovereign Rating Model (SRM). Sri Lanka has a medium WBGI ranking in the 45th percentile, reflecting a recent record of peaceful political transitions, a moderate level of rights for participation in the political process, moderate institutional capacity, established rule of law and a moderate level of corruption. ESG - Creditor Rights: Sri Lanka has an ESG Relevance Score of '5' for Creditor Rights, as willingness to service and repay debt is highly relevant to the rating and is a key rating driver with a high weight. The affirmation of Sri Lanka's LTFC IDR at 'RD' reflects a default event. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade The LTLC IDR will be further downgraded once the government executes its domestic debt restructuring. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade Following completion of the DDE, the sovereign LTLC IDR will likely be lifted out of 'RD' to a rating that appropriately reflects its prospects. For the LTFC IDR, completion of the foreign-currency commercial debt restructuring that Fitch judges to have normalised relationship with private-sector creditors may result in an upgrade. SOVEREIGN RATING MODEL (SRM) AND QUALITATIVE OVERLAY (QO) In accordance with the rating criteria for ratings in the 'CCC' range and below, Fitch's sovereign rating committee has not used the SRM and QO to explain the ratings, which are instead guided by the rating definitions. Fitch's SRM is the agency's proprietary multiple regression rating model that employs 18 variables based on three-year centred averages, including one year of forecasts, to produce a score equivalent to a LTFC IDR. Fitch's QO is a forward-looking qualitative framework designed to allow for adjustment to the SRM output to assign the LTFC IDR, reflecting factors within Fitch criteria that are not fully quantifiable and/or not fully reflected in the SRM. BEST/WORST CASE RATING SCENARIO International scale credit ratings of Sovereigns, Public Finance and Infrastructure issuers have a best-case rating upgrade scenario (defined as the 99th percentile of rating transitions, measured in a positive direction) of three notches over a three-year rating horizon; and a worst-case rating downgrade scenario (defined as the 99th percentile of rating transitions, measured in a negative direction) of three notches over three years. The complete span of best- and worst-case scenario credit ratings for all rating categories ranges from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are based on historical performance. REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING The principal sources of information used in the analysis are described in the Applicable Criteria. ESG CONSIDERATIONS Sri Lanka has an ESG Relevance Score of '5' for Political Stability and Rights as WBGI have the highest weight in Fitch's SRM and are highly relevant to the rating and a key rating driver with a high weight. As Sri Lanka has a percentile rank below 50, for the respective governance indicator, this has a negative impact on the credit profile. Sri Lanka has an ESG Relevance Score of '5' for Rule of Law, Institutional & Regulatory Quality and Control of Corruption as WBGI have the highest weight in Fitch's SRM and are therefore highly relevant to the rating and are a key rating driver with a high weight. As Sri Lanka has a percentile rank below 50 for the respective governance indicators, this has a negative impact on the credit profile. Sri Lanka has an ESG Relevance Score of '4' for Human Rights and Political Freedoms, as the Voice and Accountability pillar of the WBGI is relevant to the rating and a rating driver. As Sri Lanka has a percentile rank below 50 for the respective governance indicator, this has a negative impact on the credit profile. Sri Lanka has an ESG Relevance Score of '5' for Creditor Rights as willingness to service and repay debt is highly relevant to the rating and is a key rating driver with a high weight. Sri Lanka's LTFC IDR is 'RD' as the sovereign is in default on its foreign-currency debt obligations. Except for the matters discussed above, the highest level of ESG credit relevance, if present, is a score of 3. This means ESG issues are credit-neutral or have only a minimal credit impact on the entity(ies), either due to their nature or to the way in which they are being managed by the entity(ies). SRI LANKA: Parliament Taps Panel to Probe Causes of Bankruptcy -------------------------------------------------------------- Siasat Daily reports that Sri Lanka's Parliament has said that it has appointed a committee to probe into the country's financial bankruptcy and submit recommendations on the matter. Speaker Mahinda Yapa Abeywardena announced in Parliament on July 6 that the committee would be chaired by lawmaker of Sri Lanka Podujana Peramuna (SLPP) Sagara Kariyawasam, Xinhua news agency reported. Siasat Daily relates that Abeywardena said there are many allegations about the cause of Sri Lanka's bankruptcy in 2022, and the committee is entrusted with investigating these allegations. Sri Lanka, formerly known as Ceylon and officially the Democratic Socialist Republic of Sri Lanka, is an island country in South Asia. It lies in the Indian Ocean, southwest of the Bay of Bengal, and southeast of the Arabian Sea; it is separated from the Indian subcontinent by the Gulf of Mannar and the Palk Strait. Sri Lanka shares a maritime border with India and the Maldives. Sri Jayawardenepura Kotte is its legislative capital, and Colombo is its largest city and financial centre. The island nation defaulted on its foreign debt for the first time in its history in April last year as the worst financial crisis since independence from Britain in 1948 crushed its economy. As reported in the Troubled Company Reporter-Asia Pacific, S&P Global Ratings, on April 26, 2023, affirmed its long-term and short-term foreign currency sovereign credit ratings on Sri Lanka at 'SD/SD'. At the same time, S&P affirmed its 'CCC-' long-term and 'C' short-term local currency sovereign ratings. The outlook on the long-term local currency rating remains negative. S&P also retained its transfer and convertibility assessment at 'CC'. The negative outlook on the long-term local currency rating reflects a high risk to commercial debt repayments over the next six months in the context of Sri Lanka's economic, external, and fiscal pressures. =============== X X X X X X X X =============== [*] BOND PRICING: For the Week July 3 to July 7, 2023 ----------------------------------------------------- Issuer Coupon Maturity Currency Price ------ ------ -------- -------- ----- AUSTRALIA --------- ACN 113 874 712 PTY LT 13.25 02/15/18 USD 0.20 ACN 113 874 712 PTY LT 13.25 02/15/18 USD 0.20 APA INFRASTRUCTURE LTD 2.50 03/15/36 GBP 67.93 APA INFRASTRUCTURE LTD 1.25 03/15/33 EUR 73.36 AUSNET SERVICES HOLDIN 3.16 08/07/40 AUD 69.17 AUSNET SERVICES HOLDIN 2.57 08/07/35 AUD 71.37 AUSNET SERVICES HOLDIN 2.57 08/07/35 AUD 71.74 AUSTRALIA & NEW ZEALAN 1.23 02/18/50 EUR 57.40 AUSTRALIA & NEW ZEALAN 2.92 12/22/40 AUD 57.52 AUSTRALIA & NEW ZEALAN 3.00 12/17/40 AUD 58.93 AUSTRALIA & NEW ZEALAN 3.40 12/20/39 AUD 65.53 AUSTRALIA & NEW ZEALAN 1.86 02/28/44 EUR 69.63 AUSTRALIA & NEW ZEALAN 1.92 03/18/44 EUR 70.47 AUSTRALIA & NEW ZEALAN 3.74 09/26/47 USD 71.13 AUSTRALIA & NEW ZEALAN 2.20 12/21/48 EUR 72.57 AUSTRALIA & NEW ZEALAN 1.65 07/21/31 USD 74.69 AUSTRALIA GOVERNMENT B 1.75 06/21/51 AUD 63.18 CLIME CAPITAL LTD/FUND 5.25 11/30/25 AUD 0.97 COMMONWEALTH BANK OF A 1.90 03/12/50 AUD 46.13 COMMONWEALTH BANK OF A 3.30 08/26/50 AUD 50.23 COMMONWEALTH BANK OF A 2.45 10/18/49 AUD 54.24 COMMONWEALTH BANK OF A 2.60 09/27/49 AUD 56.14 COMMONWEALTH BANK OF A 0.48 07/30/43 EUR 56.90 COMMONWEALTH BANK OF A 2.66 11/26/49 AUD 57.00 COMMONWEALTH BANK OF A 3.12 08/27/41 AUD 57.18 COMMONWEALTH BANK OF A 2.70 09/18/49 AUD 57.51 COMMONWEALTH BANK OF A 2.71 10/29/49 AUD 57.66 COMMONWEALTH BANK OF A 0.48 07/29/41 EUR 58.90 COMMONWEALTH BANK OF A 3.30 09/24/41 AUD 58.91 COMMONWEALTH BANK OF A 3.00 12/10/40 AUD 60.59 COMMONWEALTH BANK OF A 3.20 08/27/40 AUD 61.63 COMMONWEALTH BANK OF A 1.01 07/19/44 EUR 62.71 COMMONWEALTH BANK OF A 0.69 11/15/39 EUR 64.07 COMMONWEALTH BANK OF A 1.34 05/17/49 EUR 64.49 COMMONWEALTH BANK OF A 3.10 11/30/41 AUD 69.82 COMMONWEALTH BANK OF A 3.31 03/11/41 USD 70.41 COMMONWEALTH BANK OF A 3.31 03/11/41 USD 70.43 COMMONWEALTH BANK OF A 1.92 03/07/44 EUR 70.75 COMMONWEALTH BANK OF A 1.52 02/15/44 EUR 70.75 COMMONWEALTH BANK OF A 1.20 05/16/39 EUR 70.88 COMMONWEALTH BANK OF A 2.05 07/24/48 EUR 71.09 COMMONWEALTH BANK OF A 3.00 03/20/35 AUD 72.08 COMMONWEALTH BANK OF A 1.00 07/27/36 EUR 72.33 COMMONWEALTH BANK OF A 3.30 05/28/35 AUD 72.72 COMMONWEALTH BANK OF A 1.60 03/28/43 EUR 72.80 COMMONWEALTH BANK OF A 2.26 04/26/48 EUR 73.19 COMMONWEALTH BANK OF A 1.80 02/28/39 EUR 73.44 COMMONWEALTH BANK OF A 1.41 03/14/39 EUR 73.61 COMMONWEALTH BANK OF A 2.09 08/03/48 EUR 73.89 COMMONWEALTH BANK OF A 3.66 09/23/34 AUD 73.89 EDITH COWAN UNIVERSITY 3.40 07/15/41 AUD 70.68 EXCHANGE TRADED AUSTRA 1.75 06/21/51 AUD 63.50 FLAGSHIP INVESTMENTS L 5.50 10/01/26 AUD 2.60 GLENNON SMALL COS LTD 5.60 09/30/30 AUD 9.50 GLOBAL MASTERS FUND LT 5.50 11/24/26 AUD 2.91 MACQUARIE GROUP LTD 2.22 06/26/39 SEK 51.84 MACQUARIE GROUP LTD 2.50 09/24/36 USD 64.80 MACQUARIE GROUP LTD 2.60 10/08/36 USD 65.62 MACQUARIE GROUP LTD 2.67 10/27/36 USD 66.12 MACQUARIE UNIVERSITY 3.10 11/22/44 AUD 69.98 MOSAIC BRANDS LTD 8.00 09/30/24 AUD 0.96 NATIONAL AUSTRALIA BAN 3.35 07/24/40 AUD 62.43 NATIONAL AUSTRALIA BAN 2.65 01/14/41 USD 63.95 NATIONAL AUSTRALIA BAN 2.65 01/14/41 USD 63.99 NATIONAL AUSTRALIA BAN 2.48 12/05/39 AUD 66.00 NATIONAL AUSTRALIA BAN 3.40 06/30/40 AUD 66.71 NATIONAL AUSTRALIA BAN 3.35 07/17/40 AUD 66.86 NATIONAL AUSTRALIA BAN 2.60 01/28/40 AUD 67.06 NATIONAL AUSTRALIA BAN 3.71 11/25/41 AUD 67.33 NATIONAL AUSTRALIA BAN 2.68 01/22/40 AUD 68.07 NATIONAL AUSTRALIA BAN 2.64 12/16/39 AUD 68.14 NATIONAL AUSTRALIA BAN 2.76 01/21/40 AUD 68.84 NATIONAL AUSTRALIA BAN 3.37 05/25/46 USD 70.51 NATIONAL AUSTRALIA BAN 4.10 02/24/42 AUD 71.24 NEW SOUTH WALES TREASU 0.61 02/24/50 EUR 58.03 NEW SOUTH WALES TREASU 2.45 08/24/50 AUD 62.60 NEW SOUTH WALES TREASU 2.25 05/20/42 AUD 66.95 NEW SOUTH WALES TREASU 2.25 05/07/41 AUD 68.67 NEW SOUTH WALES TREASU 2.25 11/20/40 AUD 69.47 QUEENSLAND TREASURY CO 0.69 06/01/50 EUR 52.29 QUEENSLAND TREASURY CO 2.25 10/28/50 AUD 60.00 QUEENSLAND TREASURY CO 2.25 11/20/41 AUD 68.42 QUEENSLAND TREASURY CO 2.25 04/16/40 AUD 70.45 RIO TINTO FINANCE USA 2.75 11/02/51 USD 68.62 SOUTH AUSTRALIAN GOVER 2.25 05/24/40 AUD 68.70 TASMANIAN PUBLIC FINAN 2.35 08/23/41 AUD 68.22 TASMANIAN PUBLIC FINAN 1.75 01/22/36 AUD 73.71 TREASURY CORP OF VICTO 0.60 02/24/50 EUR 53.21 TREASURY CORP OF VICTO 2.40 08/18/50 AUD 61.95 TREASURY CORP OF VICTO 2.25 11/20/42 AUD 66.35 TREASURY CORP OF VICTO 2.25 11/20/41 AUD 66.88 TREASURY CORP OF VICTO 2.25 11/20/40 AUD 68.92 TREASURY CORP OF VICTO 2.00 11/20/37 AUD 72.73 TRUSTEE FOR APMF POOLE 6.50 09/30/26 AUD 74.01 VIRGIN AUSTRALIA HOLDI 8.00 11/26/24 AUD 0.37 VIRGIN AUSTRALIA HOLDI 8.08 03/05/24 AUD 0.41 VIRGIN AUSTRALIA HOLDI 8.13 11/15/24 USD 0.46 VIRGIN AUSTRALIA HOLDI 8.13 11/15/24 USD 0.46 VIRGIN AUSTRALIA HOLDI 7.88 10/15/21 USD 0.48 VIRGIN AUSTRALIA HOLDI 7.88 10/15/21 USD 0.48 VIRGIN AUSTRALIA HOLDI 8.25 05/30/23 AUD 1.29 WESFARMERS LTD 0.95 10/21/33 EUR 74.15 WESTERN AUSTRALIAN TRE 2.25 07/23/41 AUD 69.45 WESTPAC BANKING CORP 2.35 02/27/40 AUD 63.71 WESTPAC BANKING CORP 0.38 09/22/36 EUR 65.98 WESTPAC BANKING CORP 2.96 11/16/40 USD 67.51 WESTPAC BANKING CORP 3.13 11/18/41 USD 68.73 WESTPAC BANKING CORP 5.00 03/02/48 AUD 70.66 WESTPAC BANKING CORP 1.25 04/05/39 EUR 71.98 CHINA ----- AKESU TEXTILE CITY DEV 7.50 06/21/24 CNY 40.23 AKESU TEXTILE CITY DEV 7.50 06/21/24 CNY 40.24 ALETAI CITY JUJIN URBA 7.73 10/26/24 CNY 51.53 ANHUI DANGTU ECO DEVEL 6.00 09/11/24 CNY 40.00 ANHUI DANGTU ECO DEVEL 6.00 09/11/24 CNY 40.91 ANHUI HUAAN FOREIGN EC 7.30 07/13/21 CNY 70.01 ANHUI HUAINING URBAN & 5.80 08/28/24 CNY 40.00 ANHUI HUAINING URBAN & 5.80 08/28/24 CNY 40.43 ANHUI JIANGNAN INDUSTR 4.76 07/08/23 CNY 19.97 ANHUI JIANGNAN INDUSTR 4.76 07/08/23 CNY 20.01 ANHUI LANGCHUAN HOLDIN 6.13 12/11/24 CNY 40.60 ANHUI LANGCHUAN HOLDIN 6.13 12/11/24 CNY 41.21 ANHUI LEXING CITY CONS 6.05 11/01/24 CNY 40.98 ANJI COUNTY INDUSTRY I 7.00 11/19/25 CNY 60.00 ANJI COUNTY INDUSTRY I 7.00 11/19/25 CNY 62.58 ANJI COUNTY URBAN DEVE 7.49 09/25/25 CNY 60.00 ANJI COUNTY URBAN DEVE 7.20 05/02/25 CNY 61.76 ANJI COUNTY URBAN DEVE 7.49 09/25/25 CNY 62.62 ANJI COUNTY URBAN DEVE 7.20 05/02/25 CNY 63.06 ANJI NORTHWEST DEVELOP 5.90 07/18/23 CNY 20.07 ANJI NORTHWEST DEVELOP 5.90 07/18/23 CNY 20.09 ANLU CONSTRUCTION DEVE 5.45 06/15/23 CNY 20.04 ANNING DEVELOPMENT INV 8.80 09/11/25 CNY 56.50 ANNING DEVELOPMENT INV 8.00 12/04/25 CNY 56.64 ANNING DEVELOPMENT INV 8.00 12/04/25 CNY 60.00 ANNING DEVELOPMENT INV 8.80 09/11/25 CNY 63.32 ANQING WANJIANG HIGH T 6.50 08/02/24 CNY 40.00 ANQING WANJIANG HIGH T 6.50 08/02/24 CNY 40.14 ANQIU HUAAN STATE OWNE 7.00 09/14/24 CNY 37.52 ANQIU HUAAN STATE OWNE 7.00 09/14/24 CNY 40.18 ANSHUN CITY CONSTRUCTI 7.30 09/15/24 CNY 37.80 ANSHUN CITY CONSTRUCTI 7.30 09/15/24 CNY 40.93 ANSHUN CITY XIXIU INDU 7.90 11/15/25 CNY 50.00 ANSHUN CITY XIXIU INDU 8.00 01/29/26 CNY 53.10 ANSHUN CITY XIXIU INDU 8.00 01/29/26 CNY 56.84 ANSHUN CITY XIXIU INDU 7.90 11/15/25 CNY 62.93 ANSHUN STATE-RUN ASSET 4.48 07/18/23 CNY 19.99 ANSHUN STATE-RUN ASSET 4.48 07/18/23 CNY 20.00 ANSHUN TRANSPORTATION 7.50 10/31/24 CNY 40.17 ANSHUN XIXIU CITY INVE 4.70 11/22/23 CNY 19.06 ANSHUN XIXIU CITY INVE 4.70 11/22/23 CNY 19.16 ANYUE XINGAN CITY DEVE 7.50 01/30/25 CNY 41.37 ANYUE XINGAN CITY DEVE 7.50 01/30/25 CNY 41.37 AOYUAN CORP GROUP LTD 5.50 03/03/25 CNY 25.50 AOYUAN CORP GROUP LTD 6.60 09/03/23 CNY 38.00 AOYUAN CORP GROUP LTD 5.65 08/06/25 CNY 59.71 BAOJI INVESTMENT GROUP 5.05 04/18/24 CNY 40.34 BAOTOU AFFORDABLE HOUS 5.25 07/27/24 CNY 40.46 BAOTOU AFFORDABLE HOUS 5.31 08/10/24 CNY 40.51 BAOTOU AFFORDABLE HOUS 5.31 08/10/24 CNY 40.60 BAOTOU QINSHAN HOUSING 7.90 12/26/23 CNY 10.23 BAOYING COUNTY DEVELOP 5.45 08/21/24 CNY 40.65 BAOYING COUNTY DEVELOP 5.49 10/17/24 CNY 40.79 BAZHOU GUOHUI CONSTRUC 6.08 06/19/24 CNY 40.54 BAZHOU GUOHUI CONSTRUC 6.08 06/19/24 CNY 40.66 BENGBU ECONOMIC DEVELO 6.45 07/13/24 CNY 40.00 BENGBU ECONOMIC DEVELO 6.45 07/13/24 CNY 40.20 BENGBU URBAN INVESTMEN 5.80 04/13/24 CNY 20.41 BENGBU URBAN INVESTMEN 5.80 04/13/24 CNY 20.42 BIJIE CITY ANFANG CONS 7.80 01/18/26 CNY 53.50 BIJIE CITY ANFANG CONS 7.80 01/18/26 CNY 58.09 BIJIE CONSTRUCTION INV 5.55 08/03/24 CNY 39.30 BIJIE CONSTRUCTION INV 5.78 07/06/24 CNY 39.40 BIJIE CONSTRUCTION INV 5.78 07/06/24 CNY 40.15 BIJIE CONSTRUCTION INV 5.55 08/03/24 CNY 40.24 BIJIE DEXI CONSTRUCTIO 5.10 12/05/23 CNY 19.27 BIJIE DEXI CONSTRUCTIO 4.60 11/17/23 CNY 19.97 BIJIE DEXI CONSTRUCTIO 4.60 11/17/23 CNY 19.98 BIJIE DEXI CONSTRUCTIO 5.10 12/05/23 CNY 20.03 BIJIE QIXINGGUAN DISTR 7.60 09/08/24 CNY 37.90 BIJIE QIXINGGUAN DISTR 7.60 09/08/24 CNY 40.98 BIJIE QIXINGGUAN DISTR 8.05 08/16/25 CNY 55.00 BIJIE QIXINGGUAN DISTR 8.05 08/16/25 CNY 56.44 BIJIE TIANHE URBAN CON 8.05 12/03/25 CNY 54.40 BIJIE TIANHE URBAN CON 8.05 12/03/25 CNY 63.14 BIJIE XINTAI INVESTMEN 7.80 11/01/24 CNY 41.26 BINZHOU ZHANHUA DISTRI 4.93 11/29/23 CNY 19.98 BINZHOU ZHANHUA DISTRI 4.93 11/29/23 CNY 20.14 BRILLIANCE AUTO GROUP 5.80 03/20/24 CNY 54.80 BRILLIANCE AUTO GROUP 5.40 09/14/23 CNY 55.80 BRILLIANCE AUTO GROUP 6.30 09/14/23 CNY 56.93 BRILLIANCE AUTO GROUP 5.80 11/05/23 CNY 59.80 BRILLIANCE AUTO GROUP 5.80 06/17/24 CNY 60.78 CEFC SHANGHAI INTERNAT 4.08 09/09/21 CNY 60.00 CEFC SHANGHAI INTERNAT 4.98 12/10/20 CNY 61.29 CHANG DE DING LI INDUS 6.10 07/20/24 CNY 40.17 CHANG DE DING LI INDUS 6.10 07/20/24 CNY 40.23 CHANGDE DE YUAN SHANTY 5.33 09/13/23 CNY 9.97 CHANGDE DINGCHENG JIAN 7.58 10/19/25 CNY 60.00 CHANGDE DINGCHENG JIAN 6.98 01/22/26 CNY 60.50 CHANGDE DINGCHENG JIAN 6.98 01/22/26 CNY 61.77 CHANGDE DINGCHENG JIAN 7.58 10/19/25 CNY 62.50 CHANGGE JINCAI PUBLIC 7.10 04/19/24 CNY 39.95 CHANGGE JINCAI PUBLIC 7.10 04/19/24 CNY 40.49 CHANGJI URBAN CONSTRUC 4.24 11/18/23 CNY 19.91 CHANGJI URBAN CONSTRUC 4.24 11/18/23 CNY 20.06 CHANGSHA CHENGBEI INVE 7.00 10/26/25 CNY 60.00 CHANGSHA CHENGBEI INVE 6.95 06/06/25 CNY 62.00 CHANGSHA CHENGBEI INVE 6.95 06/06/25 CNY 62.29 CHANGSHA ECONOMIC & TE 4.78 03/03/24 CNY 20.22 CHANGSHA ECONOMIC & TE 4.78 03/03/24 CNY 21.26 CHANGSHA JINXIA NEW CI 7.00 02/14/26 CNY 61.02 CHANGSHA JINXIA NEW CI 7.00 02/14/26 CNY 62.68 CHANGSHA JINZHOU NEW C 6.60 08/24/24 CNY 40.00 CHANGSHA JINZHOU NEW C 6.60 08/24/24 CNY 40.90 CHANGSHA METRO GROUP C 6.20 04/23/23 CNY 15.00 CHANGSHA METRO GROUP C 6.20 04/23/23 CNY 15.01 CHANGSHA METRO GROUP C 5.97 04/03/25 CNY 31.18 CHANGSHA METRO GROUP C 5.40 07/14/25 CNY 45.00 CHANGSHA METRO GROUP C 4.10 12/21/25 CNY 45.72 CHANGSHA METRO GROUP C 5.40 07/14/25 CNY 46.21 CHANGSHA METRO GROUP C 4.10 12/21/25 CNY 46.47 CHANGSHA TIANXIN CITY 3.43 08/08/23 CNY 20.03 CHANGSHA TIANXIN CITY 3.43 08/08/23 CNY 20.15 CHANGSHA WANGYUAN DEVE 5.73 07/12/27 CNY 73.16 CHANGSHA YUHUA JINGKAI 4.17 09/06/23 CNY 20.00 CHANGSHA YUHUA JINGKAI 4.17 09/06/23 CNY 20.07 CHANGXING SOUTHERN TAI 6.50 11/30/25 CNY 60.00 CHANGXING SOUTHERN TAI 6.50 11/30/25 CNY 61.60 CHANGZHOU JINTAN COMMU 6.50 11/07/24 CNY 40.00 CHANGZHOU JINTAN COMMU 7.10 12/21/24 CNY 40.00 CHANGZHOU JINTAN COMMU 6.50 11/07/24 CNY 40.58 CHANGZHOU JINTAN COMMU 7.10 12/21/24 CNY 40.84 CHANGZHOU XINGANG ECON 3.42 10/20/23 CNY 19.90 CHANGZHOU XINGANG ECON 3.42 10/20/23 CNY 20.02 CHANGZHOU ZHONGLOU ECO 3.64 10/26/23 CNY 20.01 CHANGZHOU ZHONGLOU ECO 3.64 10/26/23 CNY 20.07 CHAOHU URBAN TOWN CONS 5.67 05/03/25 CNY 60.70 CHAOHU URBAN TOWN CONS 5.67 05/03/25 CNY 61.26 CHENGDU ECONOMIC&TECHN 7.49 01/15/25 CNY 51.92 CHENGDU GARDEN WATER C 6.15 05/03/23 CNY 20.00 CHENGDU GARDEN WATER C 6.15 05/03/23 CNY 20.01 CHENGDU GARDEN WATER C 7.50 09/11/24 CNY 39.45 CHENGDU GARDEN WATER C 7.50 09/11/24 CNY 40.96 CHENGDU GARDEN WATER C 8.00 06/13/25 CNY 58.85 CHENGDU GARDEN WATER C 8.00 06/13/25 CNY 60.00 CHENGDU JIAOZI PARK FI 5.99 10/23/25 CNY 60.00 CHENGDU JIAOZI PARK FI 5.99 10/23/25 CNY 61.29 CHENGDU LIN JIANG GARD 6.75 08/02/24 CNY 40.40 CHENGDU LIN JIANG GARD 7.00 08/27/25 CNY 61.81 CHENGDU XINGCHENGJIAN 5.15 12/18/24 CNY 60.94 CHENGDU XINGJIN ECOLOG 3.65 10/13/23 CNY 19.92 CHENGDU XINGJIN ECOLOG 3.65 10/13/23 CNY 20.06 CHENGDU XINGSHU INVEST 6.78 08/21/24 CNY 40.54 CHENGDU XINGSHU INVEST 6.78 08/21/24 CNY 41.32 CHENGDU XINJIN COUNTY 7.30 10/23/24 CNY 40.00 CHENGDU XINJIN COUNTY 7.30 10/23/24 CNY 41.04 CHENGDU XINJIN COUNTY 6.28 08/03/24 CNY 39.79 CHENGDU XINJIN COUNTY 6.28 08/03/24 CNY 40.00 CHENGDU XINJIN COUNTY 6.40 07/05/24 CNY 40.08 CHENGDU XINJIN COUNTY 6.40 07/05/24 CNY 40.49 CHENGDU XINKAIYUAN URB 5.29 04/27/23 CNY 20.00 CHENGDU XINKAIYUAN URB 5.29 04/27/23 CNY 20.01 CHENZHOU BAIFU INVESTM 4.96 03/22/26 CNY 43.55 CHENZHOU BAIFU INVESTM 4.96 03/22/26 CNY 45.21 CHENZHOU WENLV INDUSTR 5.34 11/28/23 CNY 19.98 CHENZHOU XINTIAN INVES 6.00 07/26/24 CNY 38.71 CHENZHOU XINTIAN INVES 6.00 07/26/24 CNY 40.00 CHENZHOU XINTIAN INVES 5.38 03/08/26 CNY 43.77 CHENZHOU XINTIAN INVES 5.38 03/08/26 CNY 44.74 CHIBI LANTIAN URBAN CO 4.38 08/10/23 CNY 19.97 CHIBI LANTIAN URBAN CO 4.38 08/10/23 CNY 20.04 CHIBI LANTIAN URBAN CO 6.95 11/22/25 CNY 60.00 CHIBI LANTIAN URBAN CO 6.95 11/22/25 CNY 62.70 CHINA COMMUNICATION TE 7.00 07/19/20 CNY 5.00 CHINA FORTUNE LAND DEV 7.40 03/24/21 CNY 25.13 CHINA FORTUNE LAND DEV 7.20 04/18/21 CNY 25.13 CHINA FORTUNE LAND DEV 5.60 09/10/21 CNY 25.13 CHINA FORTUNE LAND DEV 5.80 05/23/22 CNY 25.13 CHINA FORTUNE LAND DEV 5.00 05/30/22 CNY 68.15 CHINA GOVERNMENT INTER 2.25 10/21/50 USD 67.18 CHINA GOVERNMENT INTER 2.25 10/21/50 USD 67.21 CHINA GOVERNMENT INTER 1.00 11/12/39 EUR 68.50 CHINA GOVERNMENT INTER 0.63 11/25/35 EUR 69.72 CHINA GOVERNMENT INTER 2.50 10/26/51 USD 70.19 CHINA GOVERNMENT INTER 2.50 10/26/51 USD 70.31 CHINA GOVERNMENT INTER 0.63 11/17/33 EUR 74.02 CHINA SECURITY CO LTD 4.45 11/11/19 CNY 31.00 CHISHUI CITY CONSTRUCT 8.50 01/18/26 CNY 63.84 CHONGQIN BAIYAN INVEST 5.75 05/03/23 CNY 20.01 CHONGQIN BAIYAN INVEST 5.75 05/03/23 CNY 20.02 CHONGQIN XINLIANG INVE 4.76 08/26/23 CNY 19.94 CHONGQIN XINLIANG INVE 4.76 08/26/23 CNY 20.00 CHONGQING BAYUAN CONST 4.99 08/16/23 CNY 19.95 CHONGQING DAZU YONGSHE 6.48 07/24/24 CNY 40.54 CHONGQING DAZU YONGSHE 6.48 07/24/24 CNY 40.54 CHONGQING HECHUAN CITY 3.95 09/06/23 CNY 19.99 CHONGQING HECHUAN CITY 3.95 09/06/23 CNY 20.01 CHONGQING HONGYE INDUS 6.30 08/02/24 CNY 40.44 CHONGQING HONGYE INDUS 6.30 08/02/24 CNY 40.49 CHONGQING HONGYE INDUS 6.45 11/27/24 CNY 40.68 CHONGQING JIANGJIN DIS 6.40 09/13/24 CNY 40.00 CHONGQING JIANGJIN DIS 6.40 09/13/24 CNY 40.73 CHONGQING JIANGLAI IND 7.50 10/26/25 CNY 60.00 CHONGQING JIANGLAI IND 7.50 10/26/25 CNY 63.42 CHONGQING JIN TONG IND 4.44 11/16/23 CNY 19.89 CHONGQING JIN TONG IND 4.44 11/16/23 CNY 19.99 CHONGQING JIN TONG IND 6.50 08/01/24 CNY 38.80 CHONGQING JIN TONG IND 6.50 08/01/24 CNY 40.57 CHONGQING LIANGJIANG N 4.28 02/28/24 CNY 40.40 CHONGQING LIANGJIANG N 4.28 02/28/24 CNY 40.46 CHONGQING LIANGJIANG N 3.93 12/13/24 CNY 70.40 CHONGQING LIANGJIANG N 3.93 12/13/24 CNY 70.74 CHONGQING LIANGSHAN CO 6.30 10/16/24 CNY 40.66 CHONGQING LIANGSHAN CO 6.30 10/16/24 CNY 40.88 CHONGQING MAIRUI URBAN 4.95 04/21/23 CNY 20.00 CHONGQING MAIRUI URBAN 4.95 04/21/23 CNY 20.00 CHONGQING NANCHUAN CIT 4.20 07/11/23 CNY 19.96 CHONGQING NANCHUAN CIT 4.20 07/11/23 CNY 20.00 CHONGQING QIJIANG EAST 4.00 09/05/23 CNY 19.87 CHONGQING QIJIANG EAST 4.00 09/05/23 CNY 19.95 CHONGQING SHUANGFU CON 6.37 10/13/24 CNY 40.00 CHONGQING SHUANGFU CON 6.37 10/13/24 CNY 40.55 CHONGQING THREE GORGES 7.80 03/01/26 CNY 60.00 CHONGQING THREE GORGES 7.80 03/01/26 CNY 63.34 CHONGQING TONGLIANG JI 6.80 02/11/25 CNY 40.00 CHONGQING TONGLIANG JI 6.80 02/11/25 CNY 41.08 CHONGQING WANSHENG ECO 7.50 03/27/25 CNY 42.00 CHONGQING WANSHENG ECO 7.50 03/27/25 CNY 42.11 CHONGQING WANSHENG ECO 7.09 05/03/25 CNY 61.12 CHONGQING WANSHENG ECO 7.09 05/03/25 CNY 62.06 CHONGQING WANSHENG ECO 6.60 02/17/27 CNY 61.01 CHONGQING WULONG DISTR 6.80 09/21/24 CNY 39.79 CHONGQING WULONG DISTR 6.80 09/21/24 CNY 39.90 CHONGQING WULONG DISTR 6.80 12/28/24 CNY 40.00 CHONGQING WULONG DISTR 6.80 12/28/24 CNY 40.32 CHONGQING YINGDI INDUS 7.00 11/07/24 CNY 40.00 CHONGQING YINGDI INDUS 7.00 11/07/24 CNY 40.02 CHONGQING YUDIAN STATE 8.00 11/30/25 CNY 60.69 CHONGQING YUZHONG STAT 6.90 02/08/25 CNY 41.84 CHONGQING YUZHONG STAT 5.43 04/17/26 CNY 61.97 CHONGREN URBAN CONSTRU 7.00 03/08/25 CNY 41.29 CHUN'AN XINANJIANG DEV 3.84 11/04/23 CNY 19.93 CHUN'AN XINANJIANG DEV 3.84 11/04/23 CNY 20.05 CHUYING AGRO-PASTORA G 8.80 06/26/19 CNY 2.40 CHUZHOU CITY NANQIAO D 5.95 10/23/24 CNY 40.00 CHUZHOU CITY NANQIAO D 5.95 10/23/24 CNY 41.05 CIFI GROUP CO LTD 4.50 05/29/25 CNY 27.01 CIFI GROUP CO LTD 4.20 07/22/26 CNY 28.00 CIFI GROUP CO LTD 4.40 03/12/26 CNY 29.91 CIFI GROUP CO LTD 4.23 10/26/25 CNY 30.21 CIFI GROUP CO LTD 3.90 09/14/25 CNY 30.80 CIFI GROUP CO LTD 5.50 06/27/26 CNY 31.00 CIFI GROUP CO LTD 3.80 05/29/25 CNY 37.00 CITIC GUOAN GROUP CORP 4.90 11/06/19 CNY 18.25 CITIC GUOAN GROUP CORP 5.80 12/15/19 CNY 18.25 CITIC GUOAN GROUP CORP 4.23 12/15/20 CNY 18.25 CITIC GUOAN GROUP CORP 4.49 03/08/21 CNY 18.25 CIXI STATE OWNED ASSET 4.90 04/07/24 CNY 20.27 CIXI STATE OWNED ASSET 4.90 04/07/24 CNY 20.27 DAFANG COUNTY CONSTRUC 6.00 09/26/23 CNY 20.13 DAFANG COUNTY CONSTRUC 6.00 09/26/23 CNY 20.20 DALI URBAN DEVELOPMENT 8.00 12/25/25 CNY 60.00 DALI URBAN DEVELOPMENT 8.00 12/25/25 CNY 61.20 DANGTU COUNTY CONSTRUC 7.47 09/06/25 CNY 60.00 DANGTU COUNTY CONSTRUC 7.47 09/06/25 CNY 62.89 DANYANG INVESTMENT GRO 5.49 07/18/24 CNY 40.67 DASHIQIAO URBAN CONSTR 7.59 08/14/24 CNY 40.92 DASHIQIAO URBAN CONSTR 7.59 08/14/24 CNY 40.92 DAWA COUNTY CITY CONST 7.80 01/30/26 CNY 58.80 DAWA COUNTY CITY CONST 7.80 01/30/26 CNY 63.23 DAWA COUNTY LINGANG EC 5.99 10/19/24 CNY 40.51 DAWA COUNTY LINGANG EC 5.99 10/19/24 CNY 40.51 DAYE ZHENHENG CITY DEV 4.05 08/31/23 CNY 19.78 DAYE ZHENHENG CITY DEV 4.05 08/31/23 CNY 19.82 DAYE ZHENHENG CITY DEV 7.20 12/03/25 CNY 61.33 DAYE ZHENHENG CITY DEV 7.20 12/03/25 CNY 67.51 DAZHOU INVESTMENT CO L 3.99 11/04/26 CNY 59.61 DAZHOU INVESTMENT CO L 3.99 11/04/26 CNY 59.96 DAZHOU INVESTMENT CO L 6.50 04/07/27 CNY 62.71 DAZHOU INVESTMENT CO L 6.50 04/07/27 CNY 63.58 DEQING CONSTRUCTION IN 3.60 11/11/23 CNY 19.90 DEQING CONSTRUCTION IN 3.60 11/11/23 CNY 19.99 DING NAN CITY CONSTRUC 7.80 04/08/26 CNY 60.00 DING NAN CITY CONSTRUC 7.80 04/08/26 CNY 62.82 DINGYUAN URBAN RURAL D 5.80 12/06/24 CNY 40.00 DINGYUAN URBAN RURAL D 5.80 12/06/24 CNY 40.96 DINGYUAN URBAN RURAL D 7.00 06/27/25 CNY 60.00 DINGYUAN URBAN RURAL D 7.00 06/27/25 CNY 62.35 DONGTAI HUIMIN URBAN C 5.37 03/08/26 CNY 61.01 DONGTAI HUIMIN URBAN C 5.37 03/08/26 CNY 61.65 DONGTAI STATE-OWNED AS 3.04 11/16/23 CNY 20.07 DONGZHI COUNTY CITY OP 4.88 06/20/23 CNY 20.01 DONGZHI COUNTY CITY OP 4.88 06/20/23 CNY 20.02 DUJIANGYAN NEW CITY CO 6.90 10/19/24 CNY 39.20 DUJIANGYAN NEW CITY CO 6.90 10/19/24 CNY 40.86 DUJIANGYAN NEW CITY CO 7.80 10/11/25 CNY 58.00 DUJIANGYAN NEW CITY CO 7.80 05/02/25 CNY 60.00 DUJIANGYAN NEW CITY CO 7.80 05/02/25 CNY 61.85 DUJIANGYAN NEW CITY CO 7.80 10/11/25 CNY 62.62 EMEISHAN HUIYUAN PARKI 6.50 03/28/27 CNY 71.65 ENSHI URBAN CONSTRUCTI 3.84 11/01/23 CNY 19.91 ENSHI URBAN CONSTRUCTI 3.84 11/01/23 CNY 19.95 EVERGRANDE REAL ESTATE 6.98 07/08/23 CNY 27.00 EVERGRANDE REAL ESTATE 7.00 04/27/26 CNY 27.68 EVERGRANDE REAL ESTATE 6.27 05/06/23 CNY 30.00 EVERGRANDE REAL ESTATE 5.90 05/26/23 CNY 35.00 EVERGRANDE REAL ESTATE 6.80 05/06/24 CNY 35.69 EVERGRANDE REAL ESTATE 5.80 10/19/25 CNY 70.00 EZHOU CITY CONSTRUCTIO 6.10 07/27/27 CNY 72.51 FANGCHENG GANGSHI WENL 7.95 10/11/25 CNY 60.00 FANGCHENG GANGSHI WENL 7.93 12/25/25 CNY 60.00 FANGCHENG GANGSHI WENL 7.93 12/25/25 CNY 62.65 FANGCHENG GANGSHI WENL 7.95 10/11/25 CNY 62.81 FANTASIA GROUP CHINA C 7.80 11/29/24 CNY 44.83 FANTASIA GROUP CHINA C 7.50 12/17/23 CNY 74.00 FEIXI COUNTY URBAN & R 4.45 06/03/23 CNY 20.04 FEIXI COUNTY URBAN & R 4.45 06/03/23 CNY 27.50 FENG COUNTY ECONOMIC D 5.18 06/21/23 CNY 19.98 FENG COUNTY ECONOMIC D 5.18 06/21/23 CNY 20.02 FENGDU COUNTY STATE-OW 6.38 09/05/24 CNY 40.00 FENGDU COUNTY STATE-OW 6.38 09/05/24 CNY 40.42 FENGHUANG MINGCHENG CO 6.50 03/23/24 CNY 20.16 FENGTAI HUAXING CITY D 5.60 03/13/24 CNY 20.34 FENGTAI HUAXING CITY D 5.60 03/13/24 CNY 20.38 FENGYANG COUNTY ECONOM 6.00 11/16/24 CNY 41.13 FENGYANG COUNTY ECONOM 6.00 11/16/24 CNY 42.00 FENYI CITY CONSTRUCTIO 4.54 08/22/23 CNY 19.98 FENYI CITY CONSTRUCTIO 4.54 08/22/23 CNY 19.99 FUJIAN FUSHENG GROUP C 7.90 11/19/21 CNY 60.00 FUJIAN FUSHENG GROUP C 7.90 12/17/21 CNY 70.99 FUJIAN JINJIANG INDUST 4.00 02/19/25 CNY 69.90 FUJIAN JINJIANG INDUST 4.00 02/19/25 CNY 70.22 FUJIAN JINJIANG URBAN 3.35 08/24/23 CNY 19.01 FUJIAN JINJIANG URBAN 3.35 08/24/23 CNY 19.96 FUJIAN ZHANGZHOU CITY 5.73 10/31/25 CNY 60.00 FUJIAN ZHANGZHOU CITY 5.73 10/31/25 CNY 62.23 FUNING URBAN INVESTMEN 6.00 03/14/24 CNY 20.48 FUNING URBAN INVESTMEN 6.00 03/14/24 CNY 20.49 FUYANG ANJU INVESTMENT 5.48 05/02/23 CNY 60.05 FUZHOU CITY CONSTRUCTI 5.65 03/22/28 CNY 71.50 FUZHOU DEVELOPMENT ZON 3.53 08/25/23 CNY 20.00 FUZHOU DEVELOPMENT ZON 3.53 08/25/23 CNY 20.00 FUZHOU DONGXIANG INVES 6.20 03/20/24 CNY 20.45 FUZHOU DONGXIANG INVES 6.20 03/20/24 CNY 20.48 FUZHOU LINCHUAN URBAN 5.68 07/05/23 CNY 20.04 FUZHOU LINCHUAN URBAN 5.68 07/05/23 CNY 20.05 FUZHOU LINCHUAN URBAN 6.50 12/25/24 CNY 40.55 FUZHOU LINCHUAN URBAN 8.00 02/26/26 CNY 62.16 FUZHOU MUNICIPAL STATE 5.70 10/30/24 CNY 40.00 FUZHOU MUNICIPAL STATE 5.70 10/30/24 CNY 40.84 GANZHOU DEVELOPMENT IN 8.10 12/11/23 CNY 20.67 GANZHOU NANKANG DISTRI 8.00 09/27/25 CNY 60.00 GANZHOU NANKANG DISTRI 8.00 10/29/25 CNY 60.00 GANZHOU NANKANG DISTRI 8.00 01/23/26 CNY 60.00 GANZHOU NANKANG DISTRI 8.00 01/23/26 CNY 60.34 GANZHOU NANKANG DISTRI 8.00 09/27/25 CNY 60.78 GANZHOU NANKANG DISTRI 8.00 10/29/25 CNY 62.93 GANZHOU ZHANGGONG CONS 7.80 10/16/25 CNY 61.47 GANZHOU ZHANGGONG CONS 7.80 10/16/25 CNY 62.68 GAOMI CITY CONSTRUCTIO 5.95 09/18/24 CNY 38.40 GAOMI CITY CONSTRUCTIO 5.95 09/18/24 CNY 38.93 GAOQING LU QING ASSET 7.50 09/27/24 CNY 40.39 GAOQING LU QING ASSET 7.50 09/27/24 CNY 41.44 GAOYOU CITY ECONOMY DE 3.65 09/02/23 CNY 20.00 GAOYOU CITY ECONOMY DE 3.65 09/02/23 CNY 20.05 GAOYOU CITY ECONOMY DE 5.26 07/13/24 CNY 40.51 GLP CHINA HOLDINGS LTD 2.95 03/29/26 USD 72.94 GOME APPLIANCE CO LTD 7.80 12/21/24 CNY 37.00 GONG'AN COUNTY CITY CO 4.30 08/30/23 CNY 19.98 GONG'AN COUNTY CITY CO 4.30 08/30/23 CNY 20.04 GUANGAN TRANSPORTATION 5.39 12/01/23 CNY 20.10 GUANGAN XINHONG INVEST 7.18 08/28/24 CNY 40.00 GUANGAN XINHONG INVEST 7.18 08/28/24 CNY 40.72 GUANGDE CITY STATE-OWN 5.37 07/18/24 CNY 40.27 GUANGDONG HUIZHOU COMM 4.16 05/17/23 CNY 20.00 GUANGDONG HUIZHOU COMM 4.16 05/17/23 CNY 20.01 GUANGDONG HUIZHOU COMM 4.95 12/27/23 CNY 20.07 GUANGDONG HUIZHOU COMM 4.95 12/27/23 CNY 20.17 GUANGSHUI CITY DEVELOP 6.19 03/01/24 CNY 20.42 GUANGSHUI CITY DEVELOP 6.19 03/01/24 CNY 20.42 GUANGXI BAISE BAI DONG 7.90 06/29/25 CNY 60.00 GUANGXI BAISE BAI DONG 7.60 12/24/25 CNY 60.00 GUANGXI BAISE BAI DONG 7.60 12/24/25 CNY 60.16 GUANGXI BAISE BAI DONG 7.90 06/29/25 CNY 60.62 GUANGXI BAISE BAI DONG 7.59 01/08/26 CNY 61.30 GUANGXI BAISE BAI DONG 7.59 01/08/26 CNY 62.91 GUANGXI CHONGZUO URBAN 8.50 09/26/25 CNY 60.00 GUANGXI CHONGZUO URBAN 8.50 09/26/25 CNY 61.83 GUANGXI LIUZHOU DONGCH 6.50 07/24/24 CNY 47.83 GUANGXI LIUZHOU DONGCH 6.50 07/24/24 CNY 48.26 GUANGXI NINGMING HUINI 8.50 12/07/25 CNY 60.30 GUANGXI TIANDONG COUNT 7.50 06/04/27 CNY 50.00 GUANGYUAN CITY DEVELOP 7.50 10/25/27 CNY 55.87 GUANGZHOU FINELAND REA 13.60 07/27/23 USD 15.62 GUANGZHOU HEJING HOLDI 6.00 10/12/25 CNY 58.00 GUANGZHOU HEJING HOLDI 6.19 11/12/25 CNY 75.00 GUANGZHOU HUANTOU NANS 6.38 11/18/24 CNY 30.59 GUANGZHOU HUANTOU NANS 6.38 11/18/24 CNY 30.85 GUANGZHOU METRO GROUP 6.45 04/02/24 CNY 15.00 GUANGZHOU METRO GROUP 6.45 04/02/24 CNY 15.39 GUANGZHOU METRO GROUP 6.05 06/03/24 CNY 30.44 GUANGZHOU METRO GROUP 6.05 06/03/24 CNY 30.60 GUANGZHOU PANYU INFORM 4.50 09/08/26 CNY 59.78 GUANGZHOU PANYU INFORM 4.50 09/08/26 CNY 60.27 GUANGZHOU R&F PROPERTI 7.00 09/16/26 CNY 28.00 GUANGZHOU R&F PROPERTI 7.00 09/16/26 CNY 30.80 GUANGZHOU R&F PROPERTI 6.70 09/16/25 CNY 40.00 GUANGZHOU R&F PROPERTI 6.70 09/16/25 CNY 59.06 GUANGZHOU TIANJIAN REA 6.60 03/28/26 CNY 61.00 GUANGZHOU TIMES HOLDIN 5.94 07/17/25 CNY 34.64 GUANGZHOU TIMES HOLDIN 5.10 03/30/25 CNY 34.78 GUANGZHOU TIMES HOLDIN 5.24 05/27/25 CNY 34.86 GUANGZHOU TIMES HOLDIN 5.00 02/24/25 CNY 35.55 GUCHENG CONSTRUCTION I 7.88 04/27/25 CNY 58.28 GUCHENG CONSTRUCTION I 7.88 04/27/25 CNY 61.97 GUIXI STATE OWNED HOLD 4.18 08/18/23 CNY 19.93 GUIXI STATE OWNED HOLD 4.18 08/18/23 CNY 19.96 GUIYANG BAIYUN INDUSTR 8.30 03/21/25 CNY 40.00 GUIYANG BAIYUN INDUSTR 8.30 03/21/25 CNY 41.82 GUIYANG BAIYUN INDUSTR 7.50 03/06/26 CNY 60.00 GUIYANG BAIYUN INDUSTR 7.50 03/06/26 CNY 63.07 GUIYANG BAIYUN URBAN C 6.48 07/17/24 CNY 40.00 GUIYANG BAIYUN URBAN C 7.28 09/25/24 CNY 40.00 GUIYANG BAIYUN URBAN C 6.48 07/17/24 CNY 40.51 GUIYANG BAIYUN URBAN C 7.28 09/25/24 CNY 40.93 GUIYANG BAIYUN URBAN C 4.75 09/13/26 CNY 60.00 GUIYANG BAIYUN URBAN C 4.75 09/13/26 CNY 60.01 GUIYANG CITY CONSTRUCT 4.37 03/25/26 CNY 42.86 GUIYANG CITY CONSTRUCT 4.37 03/25/26 CNY 43.15 GUIYANG CITY CONSTRUCT 4.00 11/14/26 CNY 56.77 GUIYANG CITY CONSTRUCT 4.00 11/14/26 CNY 56.87 GUIYANG ECONOMIC DEVEL 6.35 09/21/24 CNY 38.63 GUIYANG ECONOMIC DEVEL 7.90 10/29/25 CNY 62.83 GUIYANG ECONOMIC DEVEL 7.50 04/30/26 CNY 74.40 GUIYANG GUANSHANHU DIS 6.49 06/22/24 CNY 39.72 GUIYANG GUANSHANHU DIS 6.49 06/22/24 CNY 39.73 GUIYANG GUANSHANHU INV 8.20 04/30/24 CNY 71.54 GUIYANG INVESTMENT HOL 4.46 11/17/26 CNY 55.58 GUIYANG INVESTMENT HOL 4.46 11/17/26 CNY 56.51 GUIYANG URBAN CONSTRUC 5.98 07/21/24 CNY 40.00 GUIYANG URBAN CONSTRUC 5.98 07/21/24 CNY 40.36 GUIYANG YUNYAN GUIZHON 6.80 11/17/24 CNY 40.00 GUIYANG YUNYAN GUIZHON 6.80 11/17/24 CNY 40.47 GUIZHOU CHANGSHUN COUN 8.50 03/19/26 CNY 60.00 GUIZHOU CHANGSHUN COUN 8.50 03/19/26 CNY 64.25 GUIZHOU EAST LAKE CITY 8.00 12/07/25 CNY 58.52 GUIZHOU EAST LAKE CITY 8.00 12/07/25 CNY 63.14 GUIZHOU HONGCAI INVEST 6.00 06/07/23 CNY 9.97 GUIZHOU HONGCAI INVEST 6.00 06/07/23 CNY 10.02 GUIZHOU HONGCAI INVEST 7.30 06/03/26 CNY 72.67 GUIZHOU HONGCAI INVEST 7.30 06/03/26 CNY 73.50 GUIZHOU HONGGUO ECONOM 7.80 11/24/24 CNY 30.00 GUIZHOU HONGGUO ECONOM 7.80 02/08/25 CNY 38.00 GUIZHOU HONGGUO ECONOM 7.80 02/08/25 CNY 40.05 GUIZHOU HONGGUO ECONOM 7.80 11/24/24 CNY 40.96 GUIZHOU KAILI KAIYUAN 7.30 05/26/24 CNY 40.40 GUIZHOU KAILI KAIYUAN 7.30 05/26/24 CNY 40.63 GUIZHOU KAILI KAIYUAN 7.28 08/29/24 CNY 40.88 GUIZHOU LIUPANSHUI PAN 7.30 07/24/24 CNY 38.00 GUIZHOU LIUPANSHUI PAN 7.30 07/24/24 CNY 39.77 GUIZHOU RAILWAY INVEST 7.50 04/23/24 CNY 29.90 GUIZHOU RAILWAY INVEST 7.50 04/23/24 CNY 30.42 GUIZHOU SHUICHENG CITY 4.98 11/22/23 CNY 19.95 GUIZHOU SHUICHENG CITY 4.98 11/22/23 CNY 20.05 GUIZHOU SHUICHENG ECON 7.50 10/26/25 CNY 19.50 GUIZHOU SHUICHENG ECON 7.50 10/26/25 CNY 62.49 GUIZHOU SHUICHENG WATE 8.00 11/27/25 CNY 54.60 GUIZHOU SHUICHENG WATE 8.00 11/27/25 CNY 59.20 GUIZHOU XINDONGGUAN CI 7.70 09/05/24 CNY 36.55 GUIZHOU XINDONGGUAN CI 7.70 09/05/24 CNY 41.03 GUIZHOU ZHONGSHAN DEVE 6.46 11/22/27 CNY 66.39 GUIZHOU ZHONGSHAN DEVE 6.46 11/22/27 CNY 70.00 GULIN STATE-OWNED ASSE 4.18 08/04/23 CNY 19.94 GULIN STATE-OWNED ASSE 4.18 08/04/23 CNY 19.98 GULIN STATE-OWNED ASSE 5.96 07/24/24 CNY 40.44 GULIN STATE-OWNED ASSE 5.96 07/24/24 CNY 44.51 HAIAN DEVELOPMENT ZONE 4.47 11/16/23 CNY 20.01 HAIAN DEVELOPMENT ZONE 4.47 11/16/23 CNY 20.01 HAIAN URBAN DEMOLITION 5.37 12/21/25 CNY 61.56 HAIAN URBAN DEMOLITION 7.74 05/02/25 CNY 61.71 HAIAN URBAN DEMOLITION 8.00 12/21/25 CNY 63.17 HAIKOU MEILAN INTERNAT 5.25 09/06/19 USD 16.24 HAINAN AIRLINES HOLDIN 6.20 05/24/21 CNY 51.00 HAINING ASSET MANAGEME 3.40 08/16/23 CNY 40.07 HAINING CITY DEVELOPME 5.47 11/13/25 CNY 60.00 HAINING CITY DEVELOPME 5.47 11/13/25 CNY 62.08 HAINING CITY JIANSHAN 6.15 11/15/25 CNY 60.00 HAINING CITY JIANSHAN 6.98 09/10/25 CNY 61.50 HAINING CITY JIANSHAN 6.15 11/15/25 CNY 62.35 HAINING CITY JIANSHAN 6.98 09/10/25 CNY 62.76 HAIYAN COUNTY STATE-OW 5.80 06/12/24 CNY 40.60 HAMI JIANHUI STATE-OWN 3.90 09/21/23 CNY 19.92 HANCHENG CITY INVESTME 4.69 12/05/23 CNY 19.80 HANCHENG CITY INVESTME 4.69 12/05/23 CNY 20.02 HANCHUAN CITY HANRONG 4.25 07/18/23 CNY 19.98 HANCHUAN CITY HANRONG 4.25 07/18/23 CNY 19.99 HANGZHOU CANAL COMPREH 3.40 10/17/23 CNY 19.95 HANGZHOU CANAL COMPREH 3.40 10/17/23 CNY 19.97 HANGZHOU LIANGZHU CULT 6.30 08/23/25 CNY 62.49 HANGZHOU LINPING TOURI 5.57 10/31/25 CNY 61.73 HANGZHOU LINPING TOURI 5.57 10/31/25 CNY 61.73 HANGZHOU METRO GROUP C 5.97 09/17/24 CNY 30.72 HANGZHOU QIANJIANG CBD 5.64 03/19/25 CNY 41.45 HANGZHOU QIANJIANG CBD 5.64 03/19/25 CNY 41.55 HANGZHOU WEST LAKE INV 4.30 04/25/23 CNY 20.00 HANGZHOU WEST LAKE INV 4.30 04/25/23 CNY 20.01 HANJIANG STATE-OWNED-A 5.40 04/21/24 CNY 40.36 HANJIANG STATE-OWNED-A 5.40 04/21/24 CNY 40.36 HANJIANG STATE-OWNED-A 5.38 04/10/26 CNY 61.30 HANJIANG STATE-OWNED-A 5.38 04/10/26 CNY 82.34 HANSHAN CITY CONSTRUCT 6.20 08/30/24 CNY 40.00 HANSHAN CITY CONSTRUCT 6.20 08/30/24 CNY 40.63 HARBIN CITY CONSTRUCTI 6.04 03/19/25 CNY 40.00 HARBIN CITY CONSTRUCTI 6.04 03/19/25 CNY 40.81 HARBIN HELI INVESTMENT 5.49 12/10/25 CNY 61.27 HARBIN HELI INVESTMENT 5.49 12/10/25 CNY 61.79 HECHI STATE-OWNED CAPI 4.37 11/04/23 CNY 20.06 HECHI STATE-OWNED CAPI 4.37 11/04/23 CNY 20.06 HEFEI CONSTRUCTION INV 7.20 04/29/24 CNY 30.57 HEFEI CONSTRUCTION INV 7.20 04/29/24 CNY 30.70 HEFEI XINCHENG STATE-O 4.13 07/15/23 CNY 20.01 HEFEI XINCHENG STATE-O 4.13 07/15/23 CNY 20.06 HEGANG URBAN CONSTRUCT 6.90 12/18/24 CNY 41.04 HEGANG URBAN CONSTRUCT 6.90 12/18/24 CNY 41.04 HENAN AIRPORT INVESTME 4.27 07/20/26 CNY 38.87 HENAN AIRPORT INVESTME 4.27 07/20/26 CNY 40.22 HENGDONG URBAN & RURAL 6.60 12/27/23 CNY 20.29 HENGDONG URBAN & RURAL 6.60 12/27/23 CNY 20.29 HENGYANG BINJIANG NEW 5.47 07/27/24 CNY 40.50 HENGYANG CITY AND URBA 7.50 09/22/24 CNY 40.70 HENGYANG CITY AND URBA 7.50 09/22/24 CNY 41.02 HENGYANG CITY AND URBA 7.80 12/14/24 CNY 41.39 HENGYANG CITY AND URBA 7.80 12/14/24 CNY 41.39 HESHAN PUBLIC ASSET MA 4.08 09/28/23 CNY 19.96 HESHAN PUBLIC ASSET MA 4.08 09/28/23 CNY 20.07 HESHAN PUBLIC ASSET MA 5.08 12/07/23 CNY 20.17 HESHAN PUBLIC ASSET MA 5.08 12/07/23 CNY 20.23 HONGAN URBAN DEVELOPME 7.50 12/04/24 CNY 40.00 HONGAN URBAN DEVELOPME 7.50 12/04/24 CNY 41.05 HONGHEZHOU DEVELOPMENT 5.90 07/12/24 CNY 39.45 HONGHEZHOU DEVELOPMENT 5.90 07/12/24 CNY 40.64 HONGHU CITY HONGRUI IN 6.30 10/13/24 CNY 41.00 HONGHU CITY HONGRUI IN 6.30 10/13/24 CNY 41.00 HUACHEN ENERGY CO LTD 4.65 12/29/26 USD 47.92 HUAIAN CITY HUAIAN DIS 4.63 05/03/23 CNY 19.93 HUAIAN CITY HUAIAN DIS 4.63 05/03/23 CNY 20.01 HUAIAN HONGRI TRANSPOR 5.09 04/20/23 CNY 19.99 HUAIAN HONGRI TRANSPOR 5.09 04/20/23 CNY 20.01 HUAIAN HONGZE DISTRICT 4.37 07/18/23 CNY 19.98 HUAIAN HONGZE DISTRICT 4.37 07/18/23 CNY 20.01 HUAI'AN INVESTMENT HOL 5.28 08/11/24 CNY 40.00 HUAI'AN INVESTMENT HOL 5.28 08/11/24 CNY 40.63 HUAIAN JINHU TRAFFIC I 7.38 08/10/25 CNY 61.87 HUAIAN JINHU TRAFFIC I 7.38 08/10/25 CNY 72.00 HUAI'AN NEW CITY INVES 5.22 09/20/24 CNY 40.69 HUAIAN NEW URBANIZATIO 5.98 12/20/24 CNY 71.36 HUAIAN QINGPU CITY CON 6.75 09/29/24 CNY 40.24 HUAIAN QINGPU CITY CON 6.75 09/29/24 CNY 40.76 HUAIHUA CITY CONSTRUCT 4.18 08/31/23 CNY 19.90 HUAIHUA CITY CONSTRUCT 4.18 08/31/23 CNY 19.97 HUAIHUA ECONOMIC DEVEL 5.77 08/07/24 CNY 40.30 HUAIHUA ECONOMIC DEVEL 5.77 08/07/24 CNY 40.42 HUAINAN INDUSTRY DEVEL 5.69 10/25/24 CNY 40.87 HUAINAN INDUSTRY DEVEL 5.69 10/25/24 CNY 41.78 HUAINAN SHAN NAN DEVEL 6.53 08/24/24 CNY 40.21 HUAINAN SHAN NAN DEVEL 6.53 08/24/24 CNY 40.36 HUAINAN SHAN NAN DEVEL 7.94 04/01/26 CNY 60.00 HUAINAN URBAN CONSTRUC 7.50 03/20/25 CNY 40.00 HUAINAN URBAN CONSTRUC 5.74 09/04/24 CNY 40.73 HUAINAN URBAN CONSTRUC 5.74 09/04/24 CNY 40.92 HUAINAN URBAN CONSTRUC 7.50 03/20/25 CNY 42.05 HUAINAN URBAN CONSTRUC 7.02 03/22/26 CNY 62.86 HUAINAN URBAN CONSTRUC 7.58 02/12/26 CNY 63.64 HUAIYUAN URBAN INVESTM 5.17 01/23/26 CNY 61.47 HUANGMEI COUNTY URBAN 6.80 10/09/24 CNY 40.00 HUANGMEI COUNTY URBAN 6.68 10/18/24 CNY 40.00 HUANGMEI COUNTY URBAN 6.80 10/09/24 CNY 40.61 HUANGMEI COUNTY URBAN 6.68 10/18/24 CNY 40.72 HUANGSHAN CHENGTOU GRO 6.74 04/27/25 CNY 60.00 HUANGSHAN CHENGTOU GRO 6.74 04/27/25 CNY 61.85 HUANGSHI CIHU HIGH-TEC 4.50 06/08/23 CNY 19.98 HUANGSHI CIHU HIGH-TEC 4.97 06/08/23 CNY 20.01 HUANGSHI CIHU HIGH-TEC 4.97 06/08/23 CNY 20.01 HUANGSHI CIHU HIGH-TEC 4.50 06/08/23 CNY 20.02 HUANGSHI ZHONGBANG CIT 5.95 06/02/24 CNY 40.51 HUANGSHI ZHONGBANG CIT 5.95 06/02/24 CNY 41.50 HUBEI DAYE LAKE HIGH-T 7.50 04/01/26 CNY 59.35 HUBEI DAYE LAKE HIGH-T 6.98 01/30/26 CNY 60.00 HUBEI DAYE LAKE HIGH-T 6.98 01/30/26 CNY 60.39 HUBEI DAYE LAKE HIGH-T 7.50 04/01/26 CNY 68.00 HUBEI JIAKANG CONSTRUC 7.80 12/19/25 CNY 62.98 HUBEI PROVINCIAL COMMU 5.29 06/05/25 CNY 61.38 HUBEI SONGZI JINSONG I 6.60 06/21/24 CNY 40.30 HUBEI SONGZI JINSONG I 6.60 06/21/24 CNY 40.43 HUBEI SUPPLY AND MARKE 6.70 08/23/24 CNY 40.41 HUBEI SUPPLY AND MARKE 6.70 08/23/24 CNY 40.67 HUBEI YILING ECONOMIC 6.45 09/05/24 CNY 40.00 HUBEI YILING ECONOMIC 6.45 09/05/24 CNY 40.40 HUBEI YILING ECONOMIC 7.50 03/28/26 CNY 60.00 HUBEI YILING ECONOMIC 7.50 03/28/26 CNY 61.67 HULUDAO INVESTMENT GRO 7.50 10/18/23 CNY 15.07 HUNAN CHUZHISHENG HOLD 7.50 03/27/26 CNY 60.00 HUNAN CHUZHISHENG HOLD 7.50 03/27/26 CNY 64.32 HUNAN DESHAN CONSTRUCT 6.46 09/14/24 CNY 39.67 HUNAN DESHAN CONSTRUCT 6.46 09/14/24 CNY 40.63 HUNAN LINGANG DEVELOPM 3.94 10/26/23 CNY 19.80 HUNAN LINGANG DEVELOPM 3.94 10/26/23 CNY 19.93 HUNAN LINGANG DEVELOPM 4.24 07/21/23 CNY 19.96 HUNAN LINGANG DEVELOPM 4.24 07/21/23 CNY 19.97 HUNAN MEISHAN RESOURCE 8.00 03/21/26 CNY 60.00 HUNAN MEISHAN RESOURCE 8.00 03/21/26 CNY 64.54 HUNAN PROVINCIAL RAILW 6.09 04/30/25 CNY 45.00 HUNAN PROVINCIAL RAILW 6.09 04/30/25 CNY 46.13 HUNAN SENTE INDUSTRIAL 6.90 11/28/24 CNY 20.00 HUNAN SENTE INDUSTRIAL 6.90 11/28/24 CNY 40.94 HUNAN SHAODONG ECO-IND 6.58 12/13/23 CNY 20.24 HUNAN SHAODONG ECO-IND 6.58 12/13/23 CNY 20.27 HUNAN TIANYI RONGTONG 7.50 09/17/25 CNY 60.00 HUNAN TIANYI RONGTONG 7.50 09/17/25 CNY 62.27 HUNAN TIANYI RONGTONG 8.00 10/24/25 CNY 62.29 HUNAN TIANYI RONGTONG 8.00 10/24/25 CNY 62.87 HUNAN XUANDA CONSTRUCT 7.50 01/23/26 CNY 60.00 HUNAN XUANDA CONSTRUCT 7.50 01/24/26 CNY 60.00 HUNAN XUANDA CONSTRUCT 7.50 01/23/26 CNY 61.25 HUNAN XUANDA CONSTRUCT 7.50 01/24/26 CNY 61.97 HUNAN YOUZHOU INVESTME 4.80 07/07/23 CNY 20.01 HUNAN YOUZHOU INVESTME 4.80 07/07/23 CNY 20.01 HUNAN ZHIGU INVESTMENT 5.80 07/28/24 CNY 40.00 HUNAN ZHIGU INVESTMENT 5.80 07/28/24 CNY 40.65 HUZHOU CITY INVESTMENT 6.39 09/25/25 CNY 62.80 HUZHOU NEW CITY INVEST 6.00 03/26/24 CNY 38.85 HUZHOU NEW CITY INVEST 7.50 11/23/24 CNY 41.24 HUZHOU NEW CITY INVEST 7.50 11/23/24 CNY 41.50 HUZHOU NEW CITY INVEST 6.60 05/28/23 CNY 70.20 HUZHOU WUXING NANTAIHU 7.90 09/20/25 CNY 62.20 JIAHE ZHUDU DEVELOPMEN 7.50 03/13/25 CNY 40.00 JIAHE ZHUDU DEVELOPMEN 6.50 05/25/24 CNY 40.34 JIAHE ZHUDU DEVELOPMEN 6.50 05/25/24 CNY 40.45 JIAHE ZHUDU DEVELOPMEN 7.50 03/13/25 CNY 41.50 JIANAN INVESTMENT HOLD 3.50 09/05/23 CNY 19.97 JIANAN INVESTMENT HOLD 3.85 09/05/23 CNY 19.97 JIANAN INVESTMENT HOLD 3.50 09/05/23 CNY 20.02 JIANAN INVESTMENT HOLD 3.85 09/05/23 CNY 20.02 JIANDE CITY CONSTRUCTI 7.43 01/03/26 CNY 62.65 JIANDE CITY CONSTRUCTI 7.43 01/03/26 CNY 62.86 JIANDE STATE-OWNED ASS 6.69 11/20/24 CNY 41.40 JIANGSU BEIGU INDUSTRI 5.80 06/20/23 CNY 20.07 JIANGSU BEIGU INDUSTRI 5.80 06/20/23 CNY 20.09 JIANGSU DAHANG LINGANG 5.18 09/22/23 CNY 19.99 JIANGSU DAHANG LINGANG 5.18 09/22/23 CNY 20.06 JIANGSU GAOCHUN ECONOM 3.67 09/23/23 CNY 19.97 JIANGSU GAOCHUN ECONOM 3.92 11/23/23 CNY 20.01 JIANGSU GAOCHUN ECONOM 3.67 09/23/23 CNY 20.05 JIANGSU GAOCHUN ECONOM 3.92 11/23/23 CNY 20.09 JIANGSU GAOCHUN ECONOM 6.08 08/14/24 CNY 39.57 JIANGSU GAOCHUN ECONOM 5.66 06/26/24 CNY 40.47 JIANGSU GAOCHUN ECONOM 5.66 06/26/24 CNY 40.52 JIANGSU GAOCHUN ECONOM 6.08 08/14/24 CNY 40.69 JIANGSU HAIRUN CITY DE 5.20 04/02/26 CNY 60.50 JIANGSU HAIRUN CITY DE 5.20 04/02/26 CNY 61.64 JIANGSU HAIYI HOLDING 5.98 09/11/25 CNY 61.93 JIANGSU HAIYI HOLDING 5.98 09/11/25 CNY 66.48 JIANGSU HAIZHOU DEVELO 4.67 06/06/23 CNY 19.81 JIANGSU HAIZHOU DEVELO 4.67 06/06/23 CNY 20.02 JIANGSU HAIZHOUWAN DEV 7.30 02/15/26 CNY 58.70 JIANGSU HAIZHOUWAN DEV 5.18 12/13/25 CNY 61.40 JIANGSU HAIZHOUWAN DEV 7.30 02/15/26 CNY 62.79 JIANGSU HANRUI INVESTM 5.00 08/31/23 CNY 20.00 JIANGSU HANRUI INVESTM 5.00 08/31/23 CNY 20.03 JIANGSU HONGZE LAKE SH 6.50 08/01/24 CNY 40.22 JIANGSU JINHUI GROUP C 5.16 07/14/24 CNY 40.47 JIANGSU JINHUI GROUP C 5.16 07/14/24 CNY 40.64 JIANGSU JINTAN GUOFA I 4.60 08/22/23 CNY 20.02 JIANGSU JINTAN GUOFA I 4.60 08/22/23 CNY 20.09 JIANGSU KAIYUAN INVEST 7.08 08/03/24 CNY 38.62 JIANGSU KAIYUAN INVEST 7.08 08/03/24 CNY 40.75 JIANGSU LIYANG HIGH-TE 5.70 08/30/24 CNY 40.74 JIANGSU LIYANG HIGH-TE 5.70 08/30/24 CNY 41.60 JIANGSU RUNCHENG ASSET 5.65 04/19/24 CNY 40.46 JIANGSU RUNCHENG ASSET 5.65 04/19/24 CNY 40.56 JIANGSU TAODU URBAN DE 5.99 04/13/25 CNY 41.56 JIANGSU WUZHONG ECONOM 5.26 12/25/25 CNY 60.00 JIANGSU WUZHONG ECONOM 5.26 12/25/25 CNY 61.61 JIANGSU XIANXING CONST 5.37 12/20/25 CNY 60.74 JIANGSU XIANXING CONST 5.37 12/20/25 CNY 61.58 JIANGSU YANGKOU PORT C 7.38 04/03/25 CNY 41.76 JIANGSU YANGKOU PORT C 7.38 04/03/25 CNY 42.50 JIANGSU YANGKOU PORT C 7.60 08/17/25 CNY 62.50 JIANGSU YANGKOU PORT C 7.60 08/17/25 CNY 63.05 JIANGSU YINGZHOU DEVEL 4.33 09/21/23 CNY 19.81 JIANGSU YINGZHOU DEVEL 4.33 09/21/23 CNY 19.85 JIANGSU YIXING ENVIRON 4.08 09/14/23 CNY 19.96 JIANGSU YIXING ENVIRON 4.08 09/14/23 CNY 20.09 JIANGSU ZHONGAN CONSTR 5.65 03/24/24 CNY 20.18 JIANGSU ZHONGAN CONSTR 5.65 03/24/24 CNY 20.48 JIANGSU ZHONGNAN CONST 7.30 03/17/25 CNY 71.98 JIANGSU ZHUFU INDUSTRI 4.47 07/20/23 CNY 18.41 JIANGSU ZHUFU INDUSTRI 4.47 07/20/23 CNY 20.04 JIANGXI HUANGGANGSHAN 7.90 10/08/25 CNY 60.67 JIANGXI HUANGGANGSHAN 7.48 04/12/26 CNY 62.59 JIANGXI HUANGGANGSHAN 7.90 10/08/25 CNY 63.66 JIANGXI HUANGGANGSHAN 7.90 01/25/26 CNY 63.92 JIANGXI HUKOU SHIZHONG 6.80 12/01/24 CNY 40.97 JIANGXI HUKOU SHIZHONG 6.80 12/01/24 CNY 41.05 JIANGXI JIHU DEVELOPME 6.80 02/07/25 CNY 40.00 JIANGXI JIHU DEVELOPME 7.50 04/10/25 CNY 40.00 JIANGXI JIHU DEVELOPME 6.80 02/07/25 CNY 41.10 JIANGXI JIHU DEVELOPME 7.50 04/10/25 CNY 41.28 JIANGXI PINGXIANG CHAN 6.00 08/11/24 CNY 40.00 JIANGXI PINGXIANG CHAN 6.00 08/11/24 CNY 40.30 JIANGXI XIUSHUI CITY I 7.40 12/08/24 CNY 40.68 JIANLI FENGYUAN CITY I 6.78 04/28/24 CNY 40.38 JIANLI FENGYUAN CITY I 6.78 04/28/24 CNY 40.44 JIANLI FENGYUAN CITY I 7.50 01/14/26 CNY 60.00 JIANLI FENGYUAN CITY I 7.50 01/14/26 CNY 61.75 JIANYANG DEVELOPMENT H 3.93 11/10/23 CNY 19.82 JIANYANG DEVELOPMENT H 3.93 11/10/23 CNY 19.84 JIANYANG DEVELOPMENT H 6.17 03/12/26 CNY 62.03 JIANYANG DEVELOPMENT H 6.17 03/12/26 CNY 63.50 JIANYANG MODERN INDUST 6.00 04/24/24 CNY 40.22 JIANYANG MODERN INDUST 6.00 04/24/24 CNY 40.23 JIAXING JIAXIU DEVELOP 5.60 09/25/24 CNY 40.83 JIAXING JIAXIU DEVELOP 5.60 09/25/24 CNY 41.80 JIAXING XIANGJIADANG D 3.87 09/21/23 CNY 19.94 JIAXING XIANGJIADANG D 4.13 07/20/23 CNY 19.99 JIAXING XIANGJIADANG D 3.87 09/21/23 CNY 19.99 JIAXING XIANGJIADANG D 4.13 07/20/23 CNY 20.01 JIAXING XIANGJIADANG D 6.40 04/19/25 CNY 60.00 JIAXING XIANGJIADANG D 6.40 04/19/25 CNY 61.40 JIAXING XIUHU DEVELOPM 6.80 04/16/25 CNY 41.23 JIAXING XIUHU DEVELOPM 6.80 04/16/25 CNY 60.00 JIAYU COUNTY URBAN TOW 5.70 03/23/24 CNY 20.16 JIAYU COUNTY URBAN TOW 5.70 03/23/24 CNY 20.21 JIAYU COUNTY URBAN TOW 6.50 01/19/24 CNY 20.29 JIAYU COUNTY URBAN TOW 6.50 01/19/24 CNY 20.31 JILIN ECONOMIC AND TEC 6.20 04/29/23 CNY 20.01 JILIN ECONOMIC AND TEC 6.20 04/29/23 CNY 20.01 JIN HUA RONG SHENG INV 6.85 12/27/24 CNY 40.00 JIN HUA RONG SHENG INV 6.85 12/27/24 CNY 41.39 JINGDEZHEN CERAMIC CUL 7.50 08/27/25 CNY 61.06 JINGDEZHEN CERAMIC CUL 7.50 08/27/25 CNY 62.16 JINGDEZHEN CITY CONSTR 7.49 01/08/26 CNY 60.00 JINGDEZHEN CITY CONSTR 7.49 01/08/26 CNY 60.23 JINGGANGSHAN STATE-OWN 7.00 04/01/26 CNY 60.00 JINGGANGSHAN STATE-OWN 7.00 04/01/26 CNY 60.94 JINGJIANG BINJIANG XIN 5.37 07/25/24 CNY 40.14 JINGJIANG BINJIANG XIN 5.37 07/25/24 CNY 40.52 JINGMEN DONGBAO DISTRI 7.30 03/23/25 CNY 40.00 JINGMEN DONGBAO DISTRI 7.30 03/23/25 CNY 41.68 JINGMEN HIGH-TECH DEVE 4.15 07/28/23 CNY 19.98 JINGMEN HIGH-TECH DEVE 4.15 07/28/23 CNY 20.03 JINGSHAN JINGCHENG INV 4.38 08/29/23 CNY 19.96 JINGSHAN JINGCHENG INV 4.38 08/29/23 CNY 20.06 JINGSHAN JINGCHENG INV 7.00 02/07/25 CNY 40.00 JINGSHAN JINGCHENG INV 7.00 02/07/25 CNY 40.63 JINGXIAN STATED-OWNED 6.80 02/09/25 CNY 40.00 JINGXIAN STATED-OWNED 6.80 02/09/25 CNY 41.00 JINGZHOU DEVELOPMENT Z 4.87 09/23/26 CNY 58.37 JINGZHOU DEVELOPMENT Z 4.87 09/23/26 CNY 58.67 JINGZHOU JINGZHOU DIST 7.20 02/01/26 CNY 61.87 JINGZHOU JINGZHOU DIST 7.20 02/01/26 CNY 62.50 JINGZHOU URBAN CONSTRU 5.68 07/20/24 CNY 40.75 JINGZHOU URBAN CONSTRU 5.68 07/20/24 CNY 41.70 JINING CITY SHIZHONG D 3.52 09/14/23 CNY 19.95 JINING HIGH TECH URBAN 5.88 04/25/23 CNY 40.01 JINING NEW CITY DEVELO 7.60 03/23/25 CNY 40.00 JINING NEW CITY DEVELO 7.60 03/23/25 CNY 41.41 JINING PORT & SHIPPING 7.00 11/27/24 CNY 41.00 JINING PORT & SHIPPING 7.00 06/01/25 CNY 67.68 JINKE PROPERTIES GROUP 6.30 03/04/25 CNY 10.00 JINKE PROPERTIES GROUP 6.85 05/28/24 USD 14.59 JINKE PROPERTIES GROUP 5.48 08/25/23 CNY 14.76 JINKE PROPERTIES GROUP 5.00 05/28/24 CNY 30.00 JINKE PROPERTIES GROUP 6.00 07/08/23 CNY 30.77 JINKE PROPERTIES GROUP 6.20 01/28/25 CNY 31.90 JINKE PROPERTIES GROUP 6.30 06/24/25 CNY 32.40 JINKE PROPERTIES GROUP 6.30 02/20/25 CNY 35.00 JINSHA COUNTY CONSTRUC 6.01 09/05/23 CNY 19.97 JINSHA COUNTY CONSTRUC 6.01 09/05/23 CNY 20.11 JINTANG MODERN AGRICUL 5.49 07/14/23 CNY 19.97 JINTANG MODERN AGRICUL 5.49 07/14/23 CNY 20.05 JINXIAN COUNTY CITY CO 6.20 07/24/24 CNY 40.74 JINXIANG COUNTY CITY C 7.50 03/20/26 CNY 56.54 JINXIANG COUNTY CITY C 7.50 03/20/26 CNY 63.22 JINZHAI URBAN DEVELOPM 5.90 04/25/23 CNY 20.01 JINZHAI URBAN DEVELOPM 5.90 04/25/23 CNY 20.01 JINZHOU CIHANG GROUP C 9.00 04/05/20 CNY 33.63 JISHOU HUATAI STATE OW 6.45 09/11/24 CNY 40.00 JISHOU HUATAI STATE OW 6.50 06/21/24 CNY 40.15 JISHOU HUATAI STATE OW 6.45 09/11/24 CNY 40.71 JISHOU HUATAI STATE OW 6.50 06/21/24 CNY 40.76 JUNAN COUNTY URBAN CON 7.50 09/26/24 CNY 39.85 JUNAN COUNTY URBAN CON 7.50 09/26/24 CNY 41.03 JURONG URBAN CONSTRUCT 6.80 11/06/24 CNY 40.00 JURONG URBAN CONSTRUCT 6.89 09/18/24 CNY 40.77 JURONG URBAN CONSTRUCT 6.80 11/06/24 CNY 40.82 JURONG URBAN CONSTRUCT 6.89 09/18/24 CNY 44.84 KAIDI ECOLOGICAL AND E 6.10 09/07/19 CNY 2.92 KAIDI ECOLOGICAL AND E 7.00 12/15/19 CNY 10.00 KAIDI ECOLOGICAL AND E 8.50 11/21/18 CNY 72.46 KAIFENG DEVELOPMENT IN 6.10 09/08/27 CNY 70.00 KAIFENG DEVELOPMENT IN 6.10 09/08/27 CNY 72.30 KAIFU CITY DEVELOPMENT 3.73 08/22/23 CNY 19.97 KAIFU CITY DEVELOPMENT 3.73 08/22/23 CNY 20.01 KAILI GUIZHOU TOWN CON 4.20 10/13/23 CNY 19.72 KAILI GUIZHOU TOWN CON 4.20 10/13/23 CNY 19.86 KANGMEI PHARMACEUTICAL 6.28 03/20/21 CNY 20.50 KANGMEI PHARMACEUTICAL 6.10 03/28/21 CNY 20.50 KANGMEI PHARMACEUTICAL 5.50 04/20/21 CNY 20.50 KANGMEI PHARMACEUTICAL 7.00 06/21/21 CNY 20.50 KANGMEI PHARMACEUTICAL 6.80 06/28/21 CNY 20.50 KANGMEI PHARMACEUTICAL 5.20 07/17/22 CNY 20.50 KANGMEI PHARMACEUTICAL 5.29 08/16/22 CNY 20.50 KANGMEI PHARMACEUTICAL 5.47 09/15/22 CNY 20.50 KANGMEI PHARMACEUTICAL 6.33 01/27/22 CNY 36.69 KUNMING AIRPORT INVEST 7.50 01/28/26 CNY 60.00 KUNMING DIANCHI INVEST 5.75 07/24/24 CNY 38.14 KUNMING DIANCHI INVEST 5.75 07/24/24 CNY 38.67 KUNSHAN CITY CONSTRUCT 5.70 04/24/25 CNY 61.50 KUNSHAN YINQIAO HOLDIN 5.50 10/18/24 CNY 40.92 KUNSHAN YINQIAO HOLDIN 5.50 10/18/24 CNY 44.10 LAI AN URBAN INFRASTRU 6.50 04/18/25 CNY 61.12 LAI AN URBAN INFRASTRU 6.50 04/18/25 CNY 61.60 LANLING COUNTY STATE-O 7.45 03/28/26 CNY 60.00 LANLING COUNTY STATE-O 7.45 03/28/26 CNY 61.96 LAOHEKOU CITY CONSTRUC 6.49 08/16/24 CNY 39.58 LAOHEKOU CITY CONSTRUC 6.49 08/16/24 CNY 40.00 LEPING STATE-OWNED ASS 3.70 10/20/23 CNY 19.96 LEPING STATE-OWNED ASS 3.70 10/20/23 CNY 20.03 LEQING CITY STATE OWNE 6.79 12/14/24 CNY 41.58 LETING INVESTMENT GROU 7.50 04/11/26 CNY 56.45 LETING INVESTMENT GROU 7.50 04/11/26 CNY 61.38 LIANYUNGANG HENGCHI IN 7.45 09/22/24 CNY 39.66 LIANYUNGANG HENGCHI IN 7.45 09/22/24 CNY 39.80 LIANYUNGANG HENGCHI IN 7.40 10/27/24 CNY 40.00 LIANYUNGANG HENGCHI IN 7.40 10/27/24 CNY 40.44 LIANYUNGANG XIANGYUN I 7.03 03/04/26 CNY 59.33 LIANYUNGANG XIANGYUN I 7.03 03/04/26 CNY 60.00 LIAONING GUANLONG CONS 4.70 11/10/23 CNY 20.00 LIAONING GUANLONG CONS 4.70 11/10/23 CNY 20.02 LIJIN CITY CONSTRUCTIO 7.50 12/20/25 CNY 60.00 LIJIN CITY CONSTRUCTIO 7.50 12/20/25 CNY 61.22 LINFEN YAODU DISTRICT 7.50 09/19/25 CNY 63.20 LINQU YISHAN INDUSTRIA 7.20 11/23/24 CNY 37.70 LINQU YISHAN INDUSTRIA 7.20 11/23/24 CNY 40.97 LINWU SHUNFA URBAN CON 7.00 08/23/24 CNY 40.00 LINWU SHUNFA URBAN CON 7.00 08/23/24 CNY 40.44 LINYI CITY DEVELOPMENT 3.85 11/22/23 CNY 19.94 LINYI CITY DEVELOPMENT 3.85 11/22/23 CNY 19.97 LINYI COUNTY CITY DEVE 7.78 03/21/25 CNY 40.00 LINYI COUNTY CITY DEVE 7.78 03/21/25 CNY 41.27 LINYI ZHENDONG CONSTRU 7.50 11/26/25 CNY 60.00 LINYI ZHENDONG CONSTRU 7.50 11/26/25 CNY 60.00 LINYI ZHENDONG CONSTRU 7.50 12/06/25 CNY 60.00 LINYI ZHENDONG CONSTRU 7.50 12/06/25 CNY 62.64 LIUPANSHUI CITY TRAFFI 5.98 05/02/24 CNY 39.53 LIUPANSHUI CITY TRAFFI 5.98 05/02/24 CNY 39.72 LIUYANG MODERN MANUFAC 5.75 05/02/24 CNY 40.31 LIUYANG MODERN MANUFAC 5.75 05/02/24 CNY 40.40 LIUYANG MODERN MANUFAC 5.88 08/10/24 CNY 40.60 LIUYANG MODERN MANUFAC 5.88 08/10/24 CNY 40.70 LIUYANG URBAN CONSTRUC 4.45 05/24/23 CNY 20.00 LIUYANG URBAN CONSTRUC 4.45 05/24/23 CNY 20.01 LIUZHI SPECIAL DISTRIC 7.00 11/16/24 CNY 39.76 LIUZHI SPECIAL DISTRIC 7.00 11/16/24 CNY 40.00 LIUZHOU DONGTONG INVES 4.45 07/22/23 CNY 19.73 LIUZHOU DONGTONG INVES 4.45 07/22/23 CNY 19.89 LIUZHOU LONGJIAN INVES 8.28 04/30/24 CNY 29.88 LIUZHOU LONGJIAN INVES 8.28 04/30/24 CNY 29.97 LIUZHOU LONGJIAN INVES 7.00 09/21/27 CNY 61.50 LIUZHOU LONGJIAN INVES 7.00 09/21/27 CNY 64.34 LONGCHANG DEVELOPMENT 7.09 10/31/24 CNY 40.00 LONGCHANG DEVELOPMENT 7.09 10/31/24 CNY 41.13 LOUDI WANBAO NEW DISTR 4.42 08/01/23 CNY 19.99 LOUDI WANBAO NEW DISTR 4.42 08/01/23 CNY 19.99 LU'AN JIN'AN DISTRICT 5.95 07/24/24 CNY 40.80 LUANCHUAN COUNTY TIANY 8.50 01/23/26 CNY 60.00 LUANCHUAN COUNTY TIANY 8.50 01/23/26 CNY 61.91 LUJIANG CITY CONSTRUCT 5.89 05/02/25 CNY 60.00 LUJIANG CITY CONSTRUCT 5.89 05/02/25 CNY 60.74 LUOHE ECONOMIC DEVELOP 7.50 12/18/25 CNY 62.66 LUOHE ECONOMIC DEVELOP 7.50 12/18/25 CNY 62.66 LUOYANG CITY COUNTRY C 4.28 04/26/23 CNY 20.01 LUOYANG CITY COUNTRY C 4.28 04/26/23 CNY 20.07 LUOYANG SHENGSHI URBAN 7.06 04/11/26 CNY 60.00 LUOYANG SHENGSHI URBAN 7.06 04/11/26 CNY 62.72 LUOYANG XIYUAN STATE-O 7.50 11/15/25 CNY 61.51 LUOYANG XIYUAN STATE-O 7.80 01/29/26 CNY 61.94 LUOYANG XIYUAN STATE-O 7.50 11/15/25 CNY 66.50 LUXI URBAN CONSTRUCTIO 6.80 10/27/24 CNY 40.00 LUXI URBAN CONSTRUCTIO 6.80 10/27/24 CNY 40.50 LUZHOU FUYANG INVESTME 5.00 08/11/23 CNY 19.97 LUZHOU FUYANG INVESTME 5.00 08/11/23 CNY 20.09 LUZHOU HUIXING INVESTM 6.28 10/19/24 CNY 40.53 LUZHOU HUIXING INVESTM 6.28 10/19/24 CNY 41.16 LUZHOU INDUSTRIAL DEVE 7.20 04/12/25 CNY 40.00 LUZHOU INDUSTRIAL DEVE 7.20 04/12/25 CNY 40.30 LUZHOU LIN GANG INVEST 7.00 12/01/24 CNY 40.00 LUZHOU LIN GANG INVEST 7.00 12/01/24 CNY 40.55 LUZHOU LIN GANG INVEST 7.10 02/07/25 CNY 40.84 LUZHOU LIN GANG INVEST 7.10 02/07/25 CNY 41.15 LUZHOU XINGLU INVESTME 6.41 04/23/25 CNY 45.00 LUZHOU XINGLU INVESTME 6.41 04/23/25 CNY 46.44 MA'ANSHAN CIHU HIGH TE 3.90 11/28/23 CNY 20.00 MA'ANSHAN CIHU HIGH TE 3.90 11/28/23 CNY 20.02 MAANSHAN NINGBO INVEST 7.50 04/18/26 CNY 32.00 MAANSHAN NINGBO INVEST 7.80 11/29/25 CNY 60.00 MAANSHAN NINGBO INVEST 7.80 11/29/25 CNY 62.88 MAANSHAN SOUTHERN INDU 4.43 09/02/23 CNY 19.96 MAANSHAN SOUTHERN INDU 4.53 07/25/23 CNY 20.00 MAANSHAN SOUTHERN INDU 4.43 09/02/23 CNY 20.03 MAANSHAN SOUTHERN INDU 4.53 07/25/23 CNY 20.04 MAANSHAN YUSHAN CITY D 5.62 07/31/24 CNY 40.29 MAANSHAN YUSHAN CITY D 5.62 07/31/24 CNY 40.30 MAANSHAN YUSHAN CITY D 5.85 09/22/24 CNY 40.43 MAANSHAN YUSHAN CITY D 5.85 09/22/24 CNY 40.43 MA'ANSHAN ZHENGPU HARB 6.80 03/19/25 CNY 40.00 MA'ANSHAN ZHENGPU HARB 6.00 10/13/24 CNY 40.50 MA'ANSHAN ZHENGPU HARB 6.80 03/19/25 CNY 41.72 MA'ANSHAN ZHENGPU HARB 6.00 10/13/24 CNY 44.26 MEISHAN CITY DONGPO DE 5.90 06/30/23 CNY 20.03 MEISHAN CITY DONGPO DE 5.90 06/30/23 CNY 20.04 MEISHAN CITY DONGPO DE 8.08 08/16/25 CNY 60.00 MEISHAN CITY DONGPO DE 8.00 01/03/26 CNY 60.00 MEISHAN CITY DONGPO DE 8.08 08/16/25 CNY 62.58 MEISHAN CITY DONGPO DE 8.00 01/03/26 CNY 63.25 MEISHAN MINDONG DEVELO 6.78 08/08/24 CNY 40.21 MEISHAN MINDONG DEVELO 6.78 08/08/24 CNY 40.22 MENGCHENG COUNTY URBAN 5.60 09/21/24 CNY 40.63 MENGZHOU INVESTMENT AN 8.00 09/03/25 CNY 60.00 MENGZHOU INVESTMENT AN 8.00 11/06/25 CNY 60.00 MENGZHOU INVESTMENT AN 8.00 09/03/25 CNY 62.61 MENGZHOU INVESTMENT AN 8.00 11/06/25 CNY 62.96 MENGZI CITY DEVELOPMEN 7.65 09/25/24 CNY 41.07 MENGZI CITY DEVELOPMEN 7.65 09/25/24 CNY 41.07 MENGZI CITY DEVELOPMEN 8.00 03/25/26 CNY 57.90 MENGZI CITY DEVELOPMEN 8.00 03/25/26 CNY 63.69 MIAN YANG ECONOMIC DEV 8.20 03/15/26 CNY 60.00 MIAN YANG ECONOMIC DEV 8.20 03/15/26 CNY 62.60 MIANYANG ANZHOU INVEST 8.10 05/04/25 CNY 60.00 MIANYANG ANZHOU INVEST 8.10 11/22/25 CNY 60.00 MIANYANG ANZHOU INVEST 8.10 05/04/25 CNY 60.80 MIANYANG ANZHOU INVEST 8.10 11/22/25 CNY 63.00 MIANYANG HONGDA ASSET 7.20 09/29/24 CNY 40.00 MIANYANG HONGDA ASSET 7.20 09/29/24 CNY 40.95 MIANYANG HUIDONG INVES 8.10 02/10/25 CNY 40.82 MIANYANG HUIDONG INVES 8.10 04/28/25 CNY 62.96 MIANZHU CITY JINSHEN I 7.87 12/18/25 CNY 61.57 MIANZHU CITY JINSHEN I 7.87 12/18/25 CNY 63.07 MILE AGRICULTURAL INVE 7.60 02/27/26 CNY 55.82 MILE AGRICULTURAL INVE 8.00 10/25/25 CNY 59.00 MILE AGRICULTURAL INVE 8.00 10/25/25 CNY 60.60 MILE AGRICULTURAL INVE 7.60 02/27/26 CNY 63.11 MINGGUANG YUELONG INVE 6.54 05/03/25 CNY 61.13 MUDANJIANG LONGSHENG I 7.50 09/27/25 CNY 62.36 MUNICIPALITY OF SHENZH 3.27 03/29/24 CNY 30.00 MUNICIPALITY OF SHENZH 3.27 03/29/24 CNY 30.00 MUNICIPALITY OF SHENZH 3.27 03/29/24 CNY 30.22 MUNICIPALITY OF SHENZH 3.15 01/14/25 CNY 33.33 MUNICIPALITY OF SHENZH 3.15 01/14/25 CNY 33.33 MUNICIPALITY OF SHENZH 3.15 01/14/25 CNY 33.56 MUNICIPALITY OF SHENZH 3.37 03/29/26 CNY 37.50 MUNICIPALITY OF SHENZH 3.37 03/29/26 CNY 37.50 MUNICIPALITY OF SHENZH 3.37 03/29/26 CNY 37.90 MUNICIPALITY OF SHENZH 3.37 03/29/26 CNY 39.32 MUNICIPALITY OF SHENZH 3.37 03/29/26 CNY 39.32 MUNICIPALITY OF SHENZH 3.37 03/29/26 CNY 39.74 MUNICIPALITY OF SHENZH 3.31 01/14/27 CNY 50.00 MUNICIPALITY OF SHENZH 3.31 01/14/27 CNY 50.00 MUNICIPALITY OF SHENZH 3.37 03/29/26 CNY 50.42 MUNICIPALITY OF SHENZH 3.37 03/29/26 CNY 50.42 MUNICIPALITY OF SHENZH 3.31 01/14/27 CNY 50.61 MUNICIPALITY OF SHENZH 3.37 03/29/26 CNY 50.97 MUNICIPALITY OF SHENZH 3.37 03/29/26 CNY 60.00 MUNICIPALITY OF SHENZH 3.37 03/29/26 CNY 60.00 MUNICIPALITY OF SHENZH 3.37 03/29/26 CNY 60.74 MUNICIPALITY OF SHENZH 3.34 06/18/24 CNY 66.66 MUNICIPALITY OF SHENZH 3.34 06/18/24 CNY 66.66 MUNICIPALITY OF SHENZH 3.34 06/18/24 CNY 67.04 MUNICIPALITY OF SHENZH 2.84 04/03/30 CNY 69.61 MUNICIPALITY OF SHENZH 3.50 06/18/29 CNY 70.00 MUNICIPALITY OF SHENZH 3.50 06/18/29 CNY 70.00 MUNICIPALITY OF SHENZH 3.37 01/14/30 CNY 70.00 MUNICIPALITY OF SHENZH 3.37 01/14/30 CNY 70.00 MUNICIPALITY OF SHENZH 2.84 04/03/30 CNY 70.00 MUNICIPALITY OF SHENZH 2.84 04/03/30 CNY 70.00 MUNICIPALITY OF SHENZH 3.37 01/14/30 CNY 71.23 MUNICIPALITY OF SHENZH 3.50 06/18/29 CNY 71.24 MUNICIPALITY OF SHENZH 2.80 05/19/27 CNY 74.00 MUNICIPALITY OF SHENZH 2.80 05/19/27 CNY 74.00 MUNICIPALITY OF SHENZH 2.80 05/19/27 CNY 74.03 NANCHANG CITY CONSTRUC 3.58 09/12/26 CNY 70.50 NANCHANG CITY CONSTRUC 3.58 09/12/26 CNY 70.62 NANCHANG ECONOMY TECHN 3.83 09/22/23 CNY 19.99 NANCHANG ECONOMY TECHN 3.83 09/22/23 CNY 20.02 NANCHONG JIALING DEVEL 7.80 12/12/24 CNY 40.00 NANCHONG JIALING DEVEL 7.80 12/12/24 CNY 41.17 NANCHONG JIALING DEVEL 7.98 05/23/25 CNY 60.00 NANCHONG JIALING DEVEL 7.98 05/23/25 CNY 60.50 NANJING BINJIANG INVES 5.77 11/30/25 CNY 60.00 NANJING BINJIANG INVES 5.77 11/30/25 CNY 62.07 NANJING JIANGBEI NEW D 6.00 12/06/24 CNY 40.00 NANJING JIANGBEI NEW D 6.00 12/06/24 CNY 41.26 NANJING JIANGBEI NEW D 6.90 06/15/25 CNY 62.35 NANJING JIANGBEI NEW D 6.90 06/15/25 CNY 65.88 NANJING JIANGBEI NEW T 5.59 09/26/24 CNY 40.84 NANJING JIANGBEI NEW T 5.59 09/26/24 CNY 42.50 NANJING JIANGNING ECON 7.94 04/14/24 CNY 30.73 NANJING JIANGNING URBA 3.48 11/11/23 CNY 19.98 NANJING JIANGNING URBA 3.48 11/11/23 CNY 20.07 NANJING JIANYE SCIENCE 4.37 06/24/23 CNY 20.02 NANJING JIANYE SCIENCE 4.37 06/24/23 CNY 20.07 NANJING LISHUI ECONOMI 3.41 11/09/23 CNY 19.96 NANJING LISHUI URBAN C 4.97 04/28/23 CNY 20.00 NANJING LISHUI URBAN C 4.97 04/28/23 CNY 20.00 NANJING LISHUI URBAN C 5.40 07/31/25 CNY 60.96 NANJING LISHUI URBAN C 5.40 07/31/25 CNY 63.87 NANJING METRO GROUP CO 3.29 08/29/23 CNY 20.05 NANJING METRO GROUP CO 3.29 08/29/23 CNY 20.05 NANJING METRO GROUP CO 4.22 11/28/23 CNY 40.30 NANJING METRO GROUP CO 4.22 11/28/23 CNY 40.36 NANJING PUKOU COMMUNIC 5.46 07/19/24 CNY 40.68 NANJING QIXIA STATE-OW 4.10 06/24/23 CNY 20.01 NANJING QIXIA STATE-OW 4.10 06/24/23 CNY 20.05 NANLING COUNTY CONSTRU 6.20 09/06/24 CNY 40.00 NANLING COUNTY CONSTRU 6.20 09/06/24 CNY 40.35 NANNING HI-TECH INDUST 3.82 10/20/23 CNY 19.88 NANNING HI-TECH INDUST 3.82 10/20/23 CNY 19.89 NANPING CITY WUYI NEW 7.19 03/21/26 CNY 61.10 NANPING CITY WUYI NEW 7.19 03/21/26 CNY 62.59 NANTONG CITY TONGZHOU 4.88 04/10/24 CNY 19.80 NANTONG CITY TONGZHOU 3.75 07/07/23 CNY 20.03 NANTONG CITY TONGZHOU 3.75 07/07/23 CNY 20.06 NANTONG CITY TONGZHOU 4.88 04/10/24 CNY 20.30 NANTONG KAIYUAN INVEST 7.25 11/29/24 CNY 41.06 NANTONG KAIYUAN INVEST 7.25 11/29/24 CNY 41.18 NANTONG SHIBEI HI-TECH 5.98 08/07/24 CNY 40.53 NANTONG SHIBEI HI-TECH 5.98 08/07/24 CNY 40.73 NANTONG YUNTONG PORT D 6.13 08/10/24 CNY 40.52 NANYANG HI-TECH DEVELO 6.45 04/29/23 CNY 20.00 NANYANG HI-TECH DEVELO 6.45 04/29/23 CNY 20.01 NANZHANG COUNTY CONSTR 6.00 01/20/24 CNY 20.32 NANZHANG COUNTY CONSTR 6.00 01/20/24 CNY 20.36 NANZHANG COUNTY CONSTR 6.58 10/25/24 CNY 40.00 NANZHANG COUNTY CONSTR 6.58 10/25/24 CNY 40.87 NEIJIANG XINGYUAN INDU 4.28 08/16/23 CNY 19.98 NEIJIANG XINGYUAN INDU 4.28 08/16/23 CNY 19.99 NEOGLORY HOLDING GROUP 8.00 10/22/20 CNY 56.00 NEOGLORY HOLDING GROUP 8.00 09/25/20 CNY 60.00 NEOGLORY HOLDING GROUP 8.10 11/23/18 CNY 72.00 NINGGUO CITY STATE OWN 7.14 08/07/24 CNY 40.80 NINGGUO CITY STATE OWN 7.14 08/07/24 CNY 40.83 NINGXIA SHENG YAN INDU 7.50 09/27/23 CNY 42.45 NINGXIANG CITY CONSTRU 6.00 06/02/26 CNY 62.18 NINGXIANG STATE-OWNED 3.88 11/02/23 CNY 19.93 NINGXIANG STATE-OWNED 4.89 06/03/23 CNY 20.00 NINGXIANG STATE-OWNED 3.88 11/02/23 CNY 20.03 NINGXIANG STATE-OWNED 4.89 06/03/23 CNY 20.04 ONE BELT ONE ROAD JIAN 4.70 07/15/23 CNY 20.03 ONE BELT ONE ROAD JIAN 4.70 07/15/23 CNY 20.06 PANJIN CITY SHUANGTAIZ 8.50 01/29/26 CNY 63.84 PANJIN CITY SHUANGTAIZ 8.50 01/29/26 CNY 63.84 PANJIN CITY SHUANGTAIZ 8.70 12/20/25 CNY 63.85 PANJIN CITY SHUANGTAIZ 8.70 12/20/25 CNY 63.86 PANJIN WATER GROUP CO 5.18 10/28/23 CNY 19.49 PEIXIAN ECONOMIC DEVEL 6.20 10/24/25 CNY 61.76 PEIXIAN ECONOMIC DEVEL 6.20 10/24/25 CNY 62.29 PEIXIAN STATE-OWNED AS 5.98 07/19/24 CNY 40.00 PEIXIAN STATE-OWNED AS 5.98 07/19/24 CNY 40.44 PEKING UNIVERSITY FOUN 6.20 05/31/20 CNY 11.00 PEKING UNIVERSITY FOUN 6.15 07/23/20 CNY 11.00 PEKING UNIVERSITY FOUN 6.30 09/12/20 CNY 11.00 PEKING UNIVERSITY FOUN 4.80 07/26/21 CNY 11.00 PEKING UNIVERSITY FOUN 6.10 08/22/21 CNY 11.00 PEKING UNIVERSITY FOUN 5.99 11/02/21 CNY 11.00 PEKING UNIVERSITY FOUN 5.80 01/28/22 CNY 11.00 PEKING UNIVERSITY FOUN 6.68 08/09/23 CNY 11.00 PEKING UNIVERSITY FOUN 6.50 11/16/23 CNY 11.00 PEKING UNIVERSITY FOUN 6.30 03/04/24 CNY 11.00 PENGSHAN DEVELOPMENT H 7.00 09/05/24 CNY 40.00 PENGSHAN DEVELOPMENT H 7.00 09/05/24 CNY 40.53 PENGSHAN DEVELOPMENT H 7.98 05/03/25 CNY 58.31 PENGSHAN DEVELOPMENT H 7.98 05/03/25 CNY 61.57 PENGZE CITY DEVELOPMEN 7.00 04/19/25 CNY 60.00 PENGZE CITY DEVELOPMEN 7.00 04/19/25 CNY 61.29 PENGZE CITY DEVELOPMEN 7.60 08/31/25 CNY 61.36 PENGZE CITY DEVELOPMEN 7.60 08/31/25 CNY 62.21 PENGZHOU INDUSTRY INVE 3.95 10/20/23 CNY 19.76 PINGDU STATE-OWNED ASS 6.05 07/11/25 CNY 60.00 PINGDU STATE-OWNED ASS 6.05 07/11/25 CNY 61.66 PINGHU CITY INVESTMENT 5.13 04/29/23 CNY 20.00 PINGHU CITY INVESTMENT 5.13 04/29/23 CNY 20.00 PINGJIANG COUNTY WATER 6.64 06/27/26 CNY 59.10 PINGLIANG CHENGXIANG C 7.80 03/29/26 CNY 59.27 PINGLIANG CHENGXIANG C 7.80 03/29/26 CNY 63.51 PINGXIANG HUIFENG INVE 5.79 09/21/24 CNY 40.41 PINGXIANG HUIFENG INVE 5.79 09/21/24 CNY 40.48 PINGYANG STATE-OWNED A 6.90 08/24/27 CNY 70.00 PINGYANG STATE-OWNED A 6.90 08/24/27 CNY 74.15 PIZHOU ECONOMIC DEVELO 6.66 09/19/24 CNY 40.44 PIZHOU ECONOMIC DEVELO 6.66 09/19/24 CNY 47.00 POYANG INVESTMENT & DE 6.53 08/08/24 CNY 40.00 POYANG INVESTMENT & DE 6.53 08/08/24 CNY 40.35 PROVINCE OF HEBEI CHIN 3.17 08/22/24 CNY 70.00 PROVINCE OF HEBEI CHIN 3.17 08/22/24 CNY 70.00 PROVINCE OF HEBEI CHIN 3.17 08/22/24 CNY 70.00 PROVINCE OF HEBEI CHIN 3.17 08/22/24 CNY 70.00 PROVINCE OF HEBEI CHIN 3.17 08/22/24 CNY 70.00 PROVINCE OF HEBEI CHIN 3.17 08/22/24 CNY 70.00 PROVINCE OF HEBEI CHIN 3.17 08/22/24 CNY 70.00 PROVINCE OF HEBEI CHIN 3.17 08/22/24 CNY 70.00 PROVINCE OF HEBEI CHIN 3.22 09/19/24 CNY 70.00 PROVINCE OF HEBEI CHIN 3.22 09/19/24 CNY 70.00 PROVINCE OF HEBEI CHIN 3.22 09/19/24 CNY 70.00 PROVINCE OF HEBEI CHIN 3.22 09/19/24 CNY 70.00 PROVINCE OF HEBEI CHIN 3.17 01/10/25 CNY 70.00 PROVINCE OF HEBEI CHIN 3.17 01/10/25 CNY 70.00 PROVINCE OF HEBEI CHIN 3.17 01/10/25 CNY 70.00 PROVINCE OF HEBEI CHIN 3.17 01/10/25 CNY 70.00 PROVINCE OF HEBEI CHIN 3.17 01/10/25 CNY 70.00 PROVINCE OF HEBEI CHIN 3.17 01/10/25 CNY 70.00 PROVINCE OF HEBEI CHIN 3.17 01/10/25 CNY 70.00 PROVINCE OF HEBEI CHIN 3.17 01/10/25 CNY 70.00 PROVINCE OF HEBEI CHIN 2.84 03/04/25 CNY 70.00 PROVINCE OF HEBEI CHIN 2.84 03/04/25 CNY 70.00 PROVINCE OF HEBEI CHIN 2.84 03/04/25 CNY 70.00 PROVINCE OF HEBEI CHIN 2.84 03/04/25 CNY 70.00 PROVINCE OF HEBEI CHIN 2.66 04/01/25 CNY 70.00 PROVINCE OF HEBEI CHIN 2.66 04/01/25 CNY 70.00 PROVINCE OF HEBEI CHIN 2.66 04/01/25 CNY 70.07 PROVINCE OF HEBEI CHIN 2.84 03/04/25 CNY 70.26 PROVINCE OF HEBEI CHIN 2.84 03/04/25 CNY 70.29 PROVINCE OF HEBEI CHIN 3.17 08/22/24 CNY 70.42 PROVINCE OF HEBEI CHIN 3.17 08/22/24 CNY 70.42 PROVINCE OF HEBEI CHIN 3.17 08/22/24 CNY 70.42 PROVINCE OF HEBEI CHIN 3.17 08/22/24 CNY 70.42 PROVINCE OF HEBEI CHIN 3.22 09/19/24 CNY 70.48 PROVINCE OF HEBEI CHIN 3.22 09/19/24 CNY 70.48 PROVINCE OF HEBEI CHIN 3.17 01/10/25 CNY 70.56 PROVINCE OF HEBEI CHIN 3.17 01/10/25 CNY 70.56 PROVINCE OF HEBEI CHIN 3.17 01/10/25 CNY 70.56 PROVINCE OF HEBEI CHIN 3.17 01/10/25 CNY 70.66 PUCHENG INVESTMENT DEV 6.57 08/10/24 CNY 40.00 PUCHENG INVESTMENT DEV 6.57 08/10/24 CNY 40.45 PUDING YELANG STATE-OW 7.79 11/13/24 CNY 41.71 PUDING YELANG STATE-OW 8.00 03/13/25 CNY 41.81 PUDING YELANG STATE-OW 8.00 03/13/25 CNY 45.00 PUER CITY SI MAO GUO T 7.50 03/14/26 CNY 60.00 PUER CITY SI MAO GUO T 7.50 03/14/26 CNY 63.08 PUYANG INVESTMENT GROU 5.18 08/17/24 CNY 40.51 PUYANG INVESTMENT GROU 5.18 08/17/24 CNY 40.51 QIANDONGNANZHOU KAIHON 5.30 09/22/26 CNY 58.20 QIANDONGNANZHOU KAIHON 5.30 09/22/26 CNY 58.90 QIANJIANG URBAN CONSTR 5.67 01/16/26 CNY 61.60 QIANJIANG URBAN CONSTR 5.67 01/16/26 CNY 61.86 QIANNAN AUTONOMOUS PRE 6.99 04/19/24 CNY 40.46 QIANNAN AUTONOMOUS PRE 6.99 04/19/24 CNY 40.46 QIANNAN AUTONOMOUS PRE 6.98 07/06/24 CNY 40.64 QIANNAN AUTONOMOUS PRE 6.98 07/06/24 CNY 40.64 QIANNANZHOU INVESTMENT 6.77 07/28/24 CNY 38.00 QIANNANZHOU INVESTMENT 6.77 07/28/24 CNY 40.63 QIANNANZHOU INVESTMENT 8.00 01/02/26 CNY 53.50 QIANNANZHOU INVESTMENT 8.00 01/02/26 CNY 63.28 QIANSHAN CITY QIANRUN 6.98 01/19/25 CNY 40.00 QIANSHAN CITY QIANRUN 6.98 01/19/25 CNY 41.65 QIANXINAN AUTONOMOUS R 5.90 06/22/23 CNY 20.01 QIANXINAN AUTONOMOUS R 5.90 06/22/23 CNY 20.05 QICHUN COUNTY CONSTRUC 4.96 10/18/23 CNY 20.11 QICHUN COUNTY CONSTRUC 4.96 10/18/23 CNY 20.12 QIDONG URBAN CONSTRUCT 5.25 08/16/24 CNY 39.50 QIDONG URBAN CONSTRUCT 5.25 08/16/24 CNY 40.63 QINGDAO CHANGYANG INVE 3.73 09/12/23 CNY 19.88 QINGDAO CHANGYANG INVE 3.73 09/12/23 CNY 19.89 QINGDAO CHINA PROSPERI 6.08 11/05/25 CNY 62.25 QINGDAO HAIFA STATE-OW 4.26 06/06/23 CNY 20.01 QINGDAO HAIFA STATE-OW 4.26 06/06/23 CNY 20.03 QINGDAO HAIFA STATE-OW 6.28 04/04/25 CNY 41.45 QINGDAO HAIFA STATE-OW 6.28 04/04/25 CNY 45.25 QINGDAO JIMO DISTRICT 5.35 07/10/24 CNY 40.42 QINGDAO JIMO DISTRICT 5.35 07/10/24 CNY 40.45 QINGDAO JIMO DISTRICT 6.27 10/15/25 CNY 60.00 QINGDAO JIMO DISTRICT 6.27 10/15/25 CNY 61.46 QINGDAO OCEAN INVESTME 4.36 05/12/23 CNY 20.00 QINGDAO OCEAN INVESTME 4.36 05/12/23 CNY 20.02 QINGDAO SHAOHAI INVEST 6.47 10/31/24 CNY 40.28 QINGDAO SHAOHAI INVEST 6.47 10/31/24 CNY 40.72 QINGHAI PROVINCIAL INV 6.40 07/10/21 USD 20.00 QINGHAI PROVINCIAL INV 7.25 02/22/20 USD 20.55 QINGHAI PROVINCIAL INV 7.88 03/22/21 USD 20.66 QINGZHEN CITY CONSTRUC 7.50 03/18/26 CNY 61.26 QINGZHEN CITY CONSTRUC 7.50 03/18/26 CNY 63.02 QINGZHOU CITY CONSTRUC 6.80 08/25/24 CNY 38.50 QINGZHOU CITY CONSTRUC 6.40 07/10/24 CNY 39.24 QINGZHOU CITY CONSTRUC 6.40 07/10/24 CNY 40.00 QINGZHOU CITY CONSTRUC 6.80 08/25/24 CNY 40.60 QINGZHOU HONGYUAN PUBL 7.60 06/17/27 CNY 74.95 QINHUANGDAO DEVELOPMEN 4.07 08/26/23 CNY 19.97 QINHUANGDAO DEVELOPMEN 4.07 08/26/23 CNY 19.97 QUANJIAO URBAN INFRAST 5.10 05/18/23 CNY 20.01 QUANJIAO URBAN INFRAST 5.10 05/18/23 CNY 20.02 QUJING CITY QILIN DIST 8.50 01/21/26 CNY 56.42 QUJING CITY QILIN DIST 8.50 01/21/26 CNY 60.00 QUJING ECO TECH DEVELO 5.75 06/01/23 CNY 19.97 QUJING ECO TECH DEVELO 5.75 06/01/23 CNY 20.03 RED STAR MACALLINE HOL 6.50 11/07/23 CNY 29.05 RED STAR MACALLINE HOL 7.00 12/23/25 CNY 52.75 RENHUAI WATER INVESTME 7.98 02/24/25 CNY 40.73 RENHUAI WATER INVESTME 8.00 12/26/25 CNY 58.01 RENHUAI WATER INVESTME 7.98 07/26/25 CNY 62.38 REWARD SCIENCE AND TEC 5.53 07/05/21 CNY 29.10 REWARD SCIENCE AND TEC 6.40 03/03/22 CNY 70.00 RONGCHENG ECONOMIC DEV 5.75 04/24/25 CNY 60.50 RONGCHENG ECONOMIC DEV 5.75 04/24/25 CNY 61.47 RONGQIAO GROUP CO LTD 6.50 06/03/23 CNY 64.00 RONGXIN FUJIAN INVESTM 6.50 07/06/26 CNY 24.00 RONGXIN FUJIAN INVESTM 5.42 08/19/24 CNY 31.00 RONGXIN FUJIAN INVESTM 5.60 07/27/23 CNY 33.00 RONGXIN FUJIAN INVESTM 6.45 07/03/23 CNY 67.50 RONGXIN FUJIAN INVESTM 6.78 07/03/24 CNY 72.80 RUCHENG COUNTY URBAN C 5.69 02/23/24 CNY 25.45 RUCHENG COUNTY URBAN C 5.69 02/23/24 CNY 25.45 RUCHENG SHUNXING INVES 7.50 01/07/26 CNY 60.00 RUCHENG SHUNXING INVES 7.50 01/07/26 CNY 63.54 RUDONG COUNTY JINXIN T 4.57 07/26/23 CNY 20.00 RUDONG COUNTY JINXIN T 3.80 07/26/23 CNY 20.02 RUDONG COUNTY JINXIN T 3.80 07/26/23 CNY 20.03 RUDONG COUNTY JINXIN T 4.57 07/26/23 CNY 20.05 RUDONG NEW WORLD INVES 4.37 07/18/23 CNY 20.00 RUDONG NEW WORLD INVES 4.37 07/18/23 CNY 20.05 RUICHANG CITY INVESTME 5.50 06/17/23 CNY 19.98 RUIJIN URBAN DEVELOPME 4.13 09/06/23 CNY 19.95 RUIJIN URBAN DEVELOPME 4.13 09/06/23 CNY 19.95 RUILI RENLONG INVESTME 8.00 09/20/26 CNY 74.80 RUSHAN INDUSTRIAL INVE 7.40 06/07/25 CNY 61.21 RUSHAN INDUSTRIAL INVE 7.40 06/07/25 CNY 64.24 RUZHOU CITY XINYUAN IN 4.43 09/26/23 CNY 19.75 RUZHOU CITY XINYUAN IN 4.43 09/26/23 CNY 20.00 SANMING INVESTMENT DEV 5.10 04/17/24 CNY 20.29 SANMING INVESTMENT DEV 5.10 04/17/24 CNY 40.30 SHAANXI ANKANG HIGH TE 6.85 03/28/26 CNY 60.00 SHAANXI ANKANG HIGH TE 6.85 03/28/26 CNY 62.45 SHAANXI XIXIAN NEW ARE 5.10 06/06/23 CNY 20.00 SHAANXI XIXIAN NEW ARE 5.10 06/06/23 CNY 20.04 SHAANXI XIXIAN NEW ARE 7.10 08/23/24 CNY 40.36 SHAANXI XIXIAN NEW ARE 7.10 08/23/24 CNY 40.79 SHAANXI XIXIAN NEW ARE 6.67 08/23/24 CNY 40.00 SHAANXI XIXIAN NEW ARE 6.67 08/23/24 CNY 40.66 SHANDONG HONGHE HOLDIN 7.50 01/29/26 CNY 62.10 SHANDONG OCEAN CULTURE 7.50 03/28/26 CNY 63.12 SHANDONG RENCHENG RONG 7.50 01/23/26 CNY 59.08 SHANDONG RUYI TECHNOLO 7.90 09/18/23 CNY 52.10 SHANDONG TAIFENG HOLDI 7.99 12/16/23 CNY 50.08 SHANDONG URBAN CAPITAL 7.50 04/12/26 CNY 54.58 SHANDONG URBAN CAPITAL 7.50 04/12/26 CNY 61.90 SHANGHAI MUNICIPAL INV 4.80 11/05/24 CNY 30.31 SHANGHAI MUNICIPAL INV 4.80 11/05/24 CNY 30.39 SHANGHAI POWERLONG IND 6.50 08/27/23 CNY 58.05 SHANGHAI POWERLONG IND 6.60 01/11/24 CNY 59.08 SHANGHAI POWERLONG IND 6.50 08/07/23 CNY 63.50 SHANGHAI POWERLONG IND 5.70 06/10/26 CNY 65.00 SHANGHAI SHIMAO CO LTD 5.15 03/16/24 CNY 19.49 SHANGHAI SHIMAO CO LTD 3.94 12/28/26 CNY 24.00 SHANGHAI SHIMAO CO LTD 5.50 05/06/23 CNY 26.50 SHANGHAI SHIMAO CO LTD 4.24 10/21/23 CNY 26.50 SHANGHAI SHIMAO CO LTD 4.12 01/09/24 CNY 26.50 SHANGHAI SHIMAO CO LTD 3.99 12/28/26 CNY 28.56 SHANGHAI SHIMAO CO LTD 3.60 12/28/26 CNY 31.07 SHANGHAI SHIMAO CO LTD 3.76 12/28/26 CNY 34.16 SHANGHAI SHIMAO CO LTD 4.15 12/28/26 CNY 47.70 SHANGHAI SHIMAO JIANSH 4.80 11/11/26 CNY 14.50 SHANGHAI SHIMAO JIANSH 4.15 10/16/24 CNY 15.95 SHANGHAI SHIMAO JIANSH 4.30 11/11/24 CNY 17.00 SHANGHAI SHIMAO JIANSH 3.90 08/27/25 CNY 21.59 SHANGHAI SHIMAO JIANSH 3.90 03/25/27 CNY 26.00 SHANGHAI SHIMAO JIANSH 3.20 05/11/25 CNY 26.27 SHANGHAI SHIMAO JIANSH 3.23 03/25/25 CNY 28.00 SHANGHAI SHIMAO JIANSH 4.30 09/19/24 CNY 29.99 SHANGLI INVESTMENT CO 7.50 06/01/25 CNY 60.07 SHANGLI INVESTMENT CO 7.80 01/22/26 CNY 60.49 SHANGLI INVESTMENT CO 7.80 01/22/26 CNY 61.53 SHANGLI INVESTMENT CO 7.50 06/01/25 CNY 61.83 SHANGQIU GUCHENG PROTE 5.08 05/22/23 CNY 40.03 SHANGRAO CITY CONSTRUC 5.45 12/26/25 CNY 60.48 SHANGRAO GUANGXIN URBA 7.95 07/24/25 CNY 61.38 SHANGRAO GUANGXIN URBA 7.95 07/24/25 CNY 61.44 SHANTOU INVESTMENT HOL 7.99 03/04/24 CNY 15.50 SHANTOU INVESTMENT HOL 7.99 03/04/24 CNY 15.54 SHANWEI INVESTMENT HOL 5.68 11/09/24 CNY 40.85 SHANWEI INVESTMENT HOL 5.68 11/09/24 CNY 40.97 SHAODONG NEW AREA DEVE 7.10 04/19/24 CNY 40.49 SHAODONG NEW AREA DEVE 7.10 04/19/24 CNY 40.49 SHAOGUAN URBAN INVESTM 3.67 10/25/24 CNY 40.10 SHAOGUAN URBAN INVESTM 3.67 10/25/24 CNY 40.13 SHAOSHAN HI-TECH CONST 8.00 05/02/25 CNY 60.86 SHAOSHAN HI-TECH CONST 8.00 05/02/25 CNY 60.91 SHAOXING KEQIAO CITY C 3.64 09/19/23 CNY 19.97 SHAOXING KEQIAO CITY C 3.64 09/19/23 CNY 19.98 SHAOXING KEQIAO CITY C 5.74 08/03/24 CNY 40.00 SHAOXING KEQIAO CITY C 5.74 08/03/24 CNY 40.71 SHAOXING KEYAN CONSTRU 5.88 12/04/25 CNY 61.99 SHAOYANG BAOQING INDUS 5.78 07/04/26 CNY 56.50 SHAOYANG CITY CONSTRUC 5.98 09/01/24 CNY 40.00 SHAOYANG CITY CONSTRUC 5.98 09/01/24 CNY 40.36 SHAOYANG SAISHUANGQING 7.20 03/26/25 CNY 40.00 SHAOYANG SAISHUANGQING 7.20 03/26/25 CNY 41.60 SHAOYANG SAISHUANGQING 8.00 11/28/25 CNY 60.00 SHAOYANG SAISHUANGQING 8.00 11/28/25 CNY 63.99 SHEHONG STATE OWNED AS 7.30 12/14/24 CNY 40.00 SHEHONG STATE OWNED AS 7.30 12/14/24 CNY 41.45 SHEHONG STATE OWNED AS 7.60 10/22/25 CNY 43.08 SHEHONG STATE OWNED AS 7.50 08/22/25 CNY 60.00 SHEHONG STATE OWNED AS 7.60 10/22/25 CNY 60.00 SHEHONG STATE OWNED AS 7.60 10/25/25 CNY 60.00 SHEHONG STATE OWNED AS 7.60 10/25/25 CNY 62.99 SHEHONG STATE OWNED AS 7.50 08/22/25 CNY 63.01 SHENGZHOU INVESTMENT H 5.35 07/20/24 CNY 40.56 SHENGZHOU INVESTMENT H 5.35 07/20/24 CNY 40.74 SHENWU ENVIRONMENTAL T 9.00 03/14/19 CNY 1.50 SHENZHEN LOGAN HOLDING 4.80 11/10/26 CNY 18.50 SHENZHEN LOGAN HOLDING 4.80 11/10/26 CNY 19.00 SHENZHEN LOGAN HOLDING 5.09 11/10/26 CNY 19.00 SHENZHEN LOGAN HOLDING 4.70 11/10/26 CNY 19.50 SHENZHEN LOGAN HOLDING 4.80 11/10/26 CNY 19.90 SHENZHEN LOGAN HOLDING 4.69 11/10/26 CNY 20.50 SHENZHEN LOGAN HOLDING 4.90 03/25/25 CNY 25.75 SHENZHEN LOGAN HOLDING 4.50 08/05/23 CNY 26.00 SHENZHEN LOGAN HOLDING 4.60 11/20/22 CNY 28.26 SHENZHEN LOGAN HOLDING 5.50 06/19/23 CNY 35.50 SHENZHEN METRO GROUP C 6.75 01/24/24 CNY 15.37 SHENZHEN METRO GROUP C 6.75 01/24/24 CNY 15.40 SHEYANG URBAN CONSTRUC 7.80 11/27/24 CNY 40.80 SHEYANG URBAN CONSTRUC 7.80 11/27/24 CNY 41.04 SHEYANG URBAN INVESTME 5.33 03/14/26 CNY 58.85 SHEYANG URBAN INVESTME 5.33 03/14/26 CNY 61.71 SHEYANG URBAN INVESTME 7.39 04/12/26 CNY 62.00 SHEYANG URBAN INVESTME 7.39 04/12/26 CNY 63.13 SHIFANG CITY NATIONAL 8.00 12/05/25 CNY 57.39 SHIFANG CITY NATIONAL 8.00 12/05/25 CNY 63.11 SHIJIAZHUANG HUTUO NEW 5.28 12/24/25 CNY 35.35 SHIJIAZHUANG HUTUO NEW 5.28 12/24/25 CNY 35.95 SHISHOU BOYA CITY CONS 6.98 06/15/24 CNY 40.59 SHIYAN CITY CHENGTOU P 7.80 02/13/26 CNY 58.53 SHIYAN ECO DEVELOPMENT 3.98 08/05/23 CNY 19.94 SHIYAN ECO DEVELOPMENT 3.98 08/05/23 CNY 19.94 SHIYAN HANJIANG STAR C 6.40 07/10/24 CNY 40.36 SHIYAN STATE-OWNED CAP 4.88 01/11/26 CNY 45.60 SHIYAN STATE-OWNED CAP 4.88 01/11/26 CNY 45.62 SHIZHU TUJIA HONGSHENG 7.00 11/13/24 CNY 32.00 SHIZHU TUJIA HONGSHENG 7.00 11/13/24 CNY 40.97 SHOU COUNTY STATE-OWNE 6.20 10/13/24 CNY 40.00 SHOU COUNTY STATE-OWNE 6.20 10/13/24 CNY 40.44 SHUCHENG COUNTY URBAN 5.50 04/29/23 CNY 20.01 SHUCHENG COUNTY URBAN 5.50 04/29/23 CNY 20.01 SHUOZHOU INVESTMENT CO 7.50 10/23/25 CNY 61.23 SHUOZHOU INVESTMENT CO 7.80 12/25/25 CNY 61.58 SHUOZHOU INVESTMENT CO 7.50 10/23/25 CNY 61.60 SHUOZHOU INVESTMENT CO 7.80 12/25/25 CNY 62.00 SICHUAN CHENG'A DEVELO 7.50 11/06/24 CNY 40.00 SICHUAN CHENG'A DEVELO 7.50 11/29/24 CNY 40.00 SICHUAN CHENG'A DEVELO 7.25 01/28/24 CNY 41.00 SICHUAN CHENG'A DEVELO 7.50 11/06/24 CNY 41.46 SICHUAN CHENG'A DEVELO 7.50 11/29/24 CNY 41.52 SICHUAN COAL GASIFICAT 7.00 04/18/23 CNY 20.00 SICHUAN COAL INDUSTRY 7.70 01/09/18 CNY 45.00 SICHUAN JINCAI JINXIN 7.08 07/31/24 CNY 40.74 SICHUAN JINCAI JINXIN 7.08 07/31/24 CNY 40.74 SICHUAN LANGUANG DEVEL 7.50 07/11/21 CNY 12.63 SICHUAN LANGUANG DEVEL 6.50 07/29/21 CNY 12.63 SICHUAN LANGUANG DEVEL 7.50 08/12/21 CNY 12.63 SICHUAN LANGUANG DEVEL 7.00 09/29/22 CNY 12.63 SICHUAN LANGUANG DEVEL 7.00 10/26/22 CNY 12.63 SICHUAN LANGUANG DEVEL 7.20 03/11/23 CNY 12.63 SICHUAN LANGUANG DEVEL 7.20 05/11/23 CNY 12.63 SICHUAN LANGUANG DEVEL 7.15 03/16/23 CNY 24.00 SICHUAN LANGUANG DEVEL 7.40 09/14/21 CNY 30.45 SICHUAN LANGUANG DEVEL 7.50 07/23/22 CNY 42.00 SICHUAN LANGZHONG FAMO 5.60 04/19/23 CNY 20.00 SICHUAN LANGZHONG FAMO 5.60 04/19/23 CNY 20.00 SICHUAN LONGYANG TIANF 5.45 05/27/23 CNY 20.00 SICHUAN LONGYANG TIANF 5.45 05/27/23 CNY 20.01 SICHUAN QINBA NEWCITY 6.68 07/07/24 CNY 39.61 SICHUAN QINBA NEWCITY 6.91 07/25/24 CNY 39.80 SICHUAN QINBA NEWCITY 6.91 07/25/24 CNY 39.81 SICHUAN QINBA NEWCITY 6.68 07/07/24 CNY 40.00 SICHUAN RENSHOU XINLON 7.00 06/27/24 CNY 40.64 SINO-OCEAN CAPITAL 5.30 06/10/24 CNY 35.00 SINO-OCEAN CAPITAL 5.30 09/09/23 CNY 40.00 SINO-OCEAN HOLDING GRO 4.76 10/19/25 CNY 49.50 SINO-OCEAN HOLDING GRO 5.00 08/19/25 CNY 51.00 SINO-OCEAN HOLDING GRO 4.06 09/27/26 CNY 58.00 SINO-OCEAN HOLDING GRO 5.32 03/18/25 CNY 59.94 SINO-OCEAN HOLDING GRO 4.20 05/12/26 CNY 64.30 SINO-OCEAN HOLDING GRO 4.59 03/20/26 CNY 68.80 SINO-OCEAN HOLDING GRO 4.60 01/21/24 CNY 70.20 SINO-OCEAN HOLDING GRO 5.50 03/20/24 CNY 72.11 SIXIAN CITY CONSCTRUCT 6.50 04/16/25 CNY 41.64 SIXIAN CITY CONSCTRUCT 6.50 04/16/25 CNY 60.00 SIYANG COUNTY MINKANG 7.40 07/31/24 CNY 40.83 SIYANG COUNTY MINKANG 7.40 07/31/24 CNY 40.83 SIYANG JIADING INDUSTR 7.50 12/14/25 CNY 60.80 SIYANG JIADING INDUSTR 7.50 04/27/25 CNY 61.66 SIYANG JIADING INDUSTR 7.50 04/27/25 CNY 61.66 SIYANG JIADING INDUSTR 7.50 12/14/25 CNY 62.65 SUINING COUNTY RUNQI I 6.78 11/02/24 CNY 40.38 SUINING COUNTY RUNQI I 6.78 11/02/24 CNY 41.30 SUINING FUYUAN INDUSTR 5.34 12/02/23 CNY 19.76 SUINING FUYUAN INDUSTR 5.34 12/02/23 CNY 20.01 SUINING ROUGANG INVEST 5.65 01/24/24 CNY 20.15 SUINING ROUGANG INVEST 5.65 01/24/24 CNY 20.15 SUINING ROUGANG INVEST 6.80 08/02/24 CNY 40.62 SUINING ROUGANG INVEST 6.80 08/02/24 CNY 40.62 SUINING TIANTAI INDUST 5.98 03/28/24 CNY 20.26 SUINING TIANTAI INDUST 5.98 03/28/24 CNY 20.26 SUINING TIANTAI INDUST 6.80 11/01/24 CNY 50.00 SUINING TIANTAI INDUST 6.80 11/01/24 CNY 51.07 SUIZHOU DEVELOPMENT IN 5.70 04/07/24 CNY 20.21 SUIZHOU DEVELOPMENT IN 5.70 04/07/24 CNY 20.28 SUIZHOU DEVELOPMENT IN 5.97 09/15/24 CNY 40.00 SUIZHOU DEVELOPMENT IN 5.97 09/15/24 CNY 40.36 SUNAC REAL ESTATE GROU 5.60 12/09/26 CNY 15.02 SUNAC REAL ESTATE GROU 7.00 12/09/26 CNY 19.28 SUNAC REAL ESTATE GROU 6.80 12/09/25 CNY 28.00 SUNAC REAL ESTATE GROU 6.48 12/09/25 CNY 29.75 SUNAC REAL ESTATE GROU 4.78 12/09/25 CNY 35.55 SUNAC REAL ESTATE GROU 6.80 01/19/25 CNY 50.00 SUNING APPLIANCE GROUP 7.30 06/28/23 CNY 21.60 SUNING APPLIANCE GROUP 7.30 06/16/23 CNY 43.36 SUNING APPLIANCE GROUP 7.30 05/10/23 CNY 49.31 SUNSHINE KAIDI NEW ENE 6.80 06/02/21 CNY 1.00 SUQIAN CITY CONSTRUCTI 5.30 07/11/24 CNY 40.42 SUQIAN CITY CONSTRUCTI 5.30 07/11/24 CNY 40.42 SUQIAN CITY CONSTRUCTI 6.44 12/26/24 CNY 41.21 SUQIAN CITY CONSTRUCTI 6.44 12/26/24 CNY 41.22 SUQIAN ECONOMIC DEVELO 5.40 04/20/24 CNY 40.39 SUQIAN ECONOMIC DEVELO 5.40 04/20/24 CNY 41.88 SUQIAN HI-TECH DEVELOP 6.97 07/20/25 CNY 60.00 SUQIAN HI-TECH DEVELOP 6.49 10/17/25 CNY 60.00 SUQIAN HI-TECH DEVELOP 6.49 10/17/25 CNY 62.40 SUQIAN HUBIN XINCHENG 6.93 08/25/24 CNY 38.10 SUQIAN HUBIN XINCHENG 6.85 08/02/24 CNY 39.75 SUQIAN HUBIN XINCHENG 6.85 08/02/24 CNY 40.67 SUQIAN HUBIN XINCHENG 6.93 08/25/24 CNY 40.75 SUQIAN YUFENG INDUSTRI 5.50 04/21/24 CNY 40.24 SUQIAN YUFENG INDUSTRI 5.50 04/21/24 CNY 44.26 SUZHOU GAOXIN TOURISM 5.20 10/27/23 CNY 50.30 SUZHOU GAOXIN TOURISM 5.20 04/11/24 CNY 50.35 SUZHOU MAANSHAN INVEST 6.10 08/03/24 CNY 40.62 SUZHOU MAANSHAN INVEST 6.10 08/03/24 CNY 40.77 SUZHOU MUDU URBAN RURA 4.94 04/16/24 CNY 40.57 SUZHOU MUDU URBAN RURA 4.94 04/16/24 CNY 70.30 SUZHOU NEW AREA CONSTR 5.98 08/04/24 CNY 40.00 SUZHOU NEW AREA CONSTR 5.98 08/04/24 CNY 40.58 SUZHOU WUJIANG COMMUNI 3.75 05/26/23 CNY 30.00 SUZHOU WUZHONG CITY CO 5.90 11/06/24 CNY 40.00 SUZHOU WUZHONG CITY CO 6.50 02/01/25 CNY 40.00 SUZHOU WUZHONG CITY CO 5.90 11/06/24 CNY 40.83 SUZHOU WUZHONG CITY CO 6.50 02/01/25 CNY 41.53 SUZHOU WUZHONG GUOTAI 6.40 08/23/27 CNY 70.00 SUZHOU WUZHONG GUOTAI 6.40 08/23/27 CNY 74.79 TAHOE GROUP CO LTD 7.20 05/25/21 CNY 3.00 TAHOE GROUP CO LTD 8.50 08/02/21 CNY 3.00 TAHOE GROUP CO LTD 6.00 05/25/21 CNY 10.00 TAHOE GROUP CO LTD 7.50 08/15/20 CNY 27.50 TAHOE GROUP CO LTD 7.50 10/10/20 CNY 29.60 TAIAN TAISHAN HOLDINGS 5.50 04/26/23 CNY 20.00 TAIAN TAISHAN HOLDINGS 5.50 04/26/23 CNY 20.01 TAIHE STATE OWN ASSET 5.87 08/07/24 CNY 40.75 TAIHE STATE OWN ASSET 5.87 08/07/24 CNY 43.35 TAIXING CITY CHENGXING 7.80 03/05/26 CNY 60.00 TAIXING CITY CHENGXING 7.60 04/04/26 CNY 60.00 TAIXING CITY CHENGXING 7.60 04/04/26 CNY 61.89 TAIXING CITY CHENGXING 7.80 03/05/26 CNY 62.40 TAIXING XINGHUANG INVE 8.50 11/15/25 CNY 59.59 TAIXING XINGHUANG INVE 8.50 11/15/25 CNY 63.48 TAIZHOU CITY CONSTRUCT 6.92 10/16/23 CNY 15.27 TAIZHOU CITY CONSTRUCT 6.92 10/16/23 CNY 15.35 TAIZHOU CITY HUANGYAN 6.10 08/01/24 CNY 40.69 TAIZHOU CITY HUANGYAN 6.10 08/01/24 CNY 40.76 TAIZHOU CITY HUANGYAN 6.22 09/14/24 CNY 40.86 TAIZHOU CITY HUANGYAN 6.22 09/14/24 CNY 40.94 TAIZHOU EAST NEW CITY 5.28 01/03/26 CNY 61.59 TAIZHOU EAST NEW CITY 5.28 01/03/26 CNY 63.90 TAIZHOU FENGCHENGHE CO 7.90 12/29/24 CNY 40.00 TAIZHOU FENGCHENGHE CO 7.90 12/29/24 CNY 41.98 TAIZHOU FENGCHENGHE CO 5.48 11/07/25 CNY 61.95 TAIZHOU FENGCHENGHE CO 6.58 03/28/26 CNY 63.03 TAIZHOU FENGCHENGHE CO 6.58 03/28/26 CNY 66.00 TAIZHOU GAOGANG HI-TEC 5.54 06/22/24 CNY 40.42 TAIZHOU GAOGANG HI-TEC 5.54 06/22/24 CNY 40.53 TAIZHOU HUACHENG MEDIC 8.50 12/26/25 CNY 60.00 TAIZHOU HUACHENG MEDIC 8.50 12/26/25 CNY 64.47 TAIZHOU JINDONG URBAN 5.10 06/02/23 CNY 20.03 TAIZHOU JINDONG URBAN 5.10 06/02/23 CNY 20.03 TAIZHOU XINBINJIANG DE 5.34 12/21/25 CNY 61.56 TANCHENG COUNTY CITY S 7.50 04/09/26 CNY 60.00 TANCHENG COUNTY CITY S 7.50 04/09/26 CNY 63.23 TANGSHAN HOLDING DEVEL 7.60 05/16/25 CNY 58.59 TANGSHAN HOLDING DEVEL 7.60 05/16/25 CNY 60.56 TAOYUAN COUNTY ECONOMI 7.00 12/08/24 CNY 40.00 TAOYUAN COUNTY ECONOMI 7.00 12/08/24 CNY 41.37 TAOYUAN COUNTY ECONOMI 8.20 09/06/25 CNY 60.00 TAOYUAN COUNTY ECONOMI 8.20 09/06/25 CNY 63.67 TEMPUS GROUP CO LTD 7.50 06/07/20 CNY 19.67 TIANGUANG ZHONGMAO CO 6.00 10/27/21 CNY 14.00 TIANJIN BOHAI STATE-OW 3.82 04/18/23 CNY 20.00 TIANJIN BOHAI STATE-OW 3.82 04/18/23 CNY 20.00 TIANJIN BOHAI STATE-OW 4.10 04/18/26 CNY 56.00 TIANJIN BOHAI STATE-OW 4.10 04/18/26 CNY 60.25 TIANJIN DONGFANG CAIXI 6.00 07/09/25 CNY 61.26 TIANJIN METRO GROUP CO 4.27 10/16/25 CNY 45.36 TIANJIN METRO GROUP CO 4.27 10/16/25 CNY 49.00 TIANJIN NINGHE INVESTM 5.50 04/22/23 CNY 19.99 TIANJIN NINGHE INVESTM 5.50 04/22/23 CNY 20.00 TIANJIN RAILWAY CONSTR 5.58 04/13/25 CNY 29.89 TIANJIN RAILWAY CONSTR 5.58 04/13/25 CNY 30.12 TIANJIN REAL ESTATE GR 7.70 03/16/21 CNY 21.49 TIANJIN REAL ESTATE GR 4.50 09/29/20 USD 73.82 TIANJIN STATE-OWNED CA 1.60 12/17/39 USD 18.17 TIANJIN STATE-OWNED CA 0.15 12/17/26 USD 23.91 TIANJIN STATE-OWNED CA 1.55 12/17/29 USD 25.33 TIANMEN CITY CONSTRUCT 3.98 11/15/23 CNY 19.97 TIANMEN CITY CONSTRUCT 3.98 11/15/23 CNY 20.04 TONGCHENG CITY CONSTRU 6.60 12/18/24 CNY 40.00 TONGCHENG CITY CONSTRU 6.60 12/18/24 CNY 40.38 TONGCHENG CITY CONSTRU 7.50 07/23/25 CNY 60.00 TONGCHENG CITY CONSTRU 7.50 07/23/25 CNY 61.99 TONGHUA FENGYUAN INVES 8.00 12/18/25 CNY 60.00 TONGHUA FENGYUAN INVES 8.00 12/18/25 CNY 63.17 TONGLING CONSTRUCTION 5.77 07/31/24 CNY 40.00 TONGLING CONSTRUCTION 5.80 08/16/24 CNY 40.64 TONGLING CONSTRUCTION 5.77 07/31/24 CNY 40.70 TONGLING CONSTRUCTION 5.80 08/16/24 CNY 42.07 TONGLING STATE-OWNED C 7.00 11/14/24 CNY 71.14 TONGXIANG CHONGDE INVE 7.88 11/29/25 CNY 60.80 TONGXIANG CHONGDE INVE 7.88 11/29/25 CNY 62.99 TONGXIANG INDUSTRY DEV 5.38 03/14/26 CNY 60.80 TONGXIANG INDUSTRY DEV 5.38 03/14/26 CNY 61.68 TSINGHUA UNIGROUP CO L 5.85 03/27/22 CNY 16.88 TSINGHUA UNIGROUP CO L 5.20 12/10/23 CNY 16.88 TSINGHUA UNIGROUP CO L 5.11 01/25/24 CNY 16.88 TSINGHUA UNIGROUP CO L 5.60 11/15/20 CNY 25.50 TSINGHUA UNIGROUP CO L 6.20 03/16/21 CNY 25.50 TSINGHUA UNIGROUP CO L 6.15 12/26/21 CNY 25.50 TSINGHUA UNIGROUP CO L 6.00 08/14/22 CNY 25.50 TUNGHSU GROUP CO LTD 7.85 03/23/21 CNY 0.00 TUNGHSU GROUP CO LTD 7.00 09/28/20 CNY 1.70 TUNGHSU GROUP CO LTD 8.18 10/25/21 CNY 22.00 TUNGHSU OPTOELECTRONIC 6.80 05/19/20 CNY 15.20 URUMQI ECO TECH DEVELO 7.50 10/19/25 CNY 60.00 URUMQI ECO TECH DEVELO 7.50 10/19/25 CNY 61.04 URUMQI ECO&TECH DEVELO 5.32 03/15/26 CNY 60.00 URUMQI ECO&TECH DEVELO 5.32 03/15/26 CNY 61.62 WANGCHENG ECONOMIC DEV 3.75 07/13/23 CNY 20.03 WANGCHENG ECONOMIC DEV 3.75 07/13/23 CNY 20.06 WANZAI COUNTY STATE OW 6.30 03/26/27 CNY 72.43 WEICHI HOLDING GROUP C 6.18 07/24/24 CNY 40.00 WEICHI HOLDING GROUP C 7.20 04/13/25 CNY 40.00 WEICHI HOLDING GROUP C 6.18 07/24/24 CNY 40.45 WEICHI HOLDING GROUP C 7.20 04/13/25 CNY 41.75 WEIFANG BINHAI INVESTM 6.85 12/20/25 CNY 55.98 WEIFANG BINHAI INVESTM 7.00 09/12/26 CNY 70.23 WEIFANG BINHAI INVESTM 6.50 04/26/26 CNY 70.52 WEIFANG GONGXIN STATE- 5.00 07/13/26 CNY 58.30 WEIFANG GONGXIN STATE- 5.00 07/13/26 CNY 58.37 WEIHAI CENTRAL CITY ST 6.05 11/02/24 CNY 39.71 WEIHAI CENTRAL CITY ST 6.05 11/02/24 CNY 40.00 WEIHAI CITY SHUANGDAO 5.32 04/28/24 CNY 40.41 WEIHAI ECONOMIC TECHNO 5.80 08/23/24 CNY 40.00 WEIHAI ECONOMIC TECHNO 5.80 08/23/24 CNY 40.56 WEIHAI LANCHUANG CONST 7.70 10/11/25 CNY 58.00 WEIHAI WENDENG DISTRIC 3.64 10/26/23 CNY 19.78 WEIHAI WENDENG DISTRIC 3.64 10/26/23 CNY 19.92 WEIHAI WENDENG URBAN P 4.80 05/26/23 CNY 19.95 WEIHAI WENDENG URBAN P 4.80 05/26/23 CNY 20.00 WEIHAI WENDENG URBAN P 7.70 05/02/28 CNY 75.21 WENLING CITY STATE OWN 5.73 04/19/25 CNY 61.37 WENLING CITY STATE OWN 5.43 11/12/25 CNY 61.40 WENLING CITY STATE OWN 5.73 04/19/25 CNY 61.53 WENLING CITY STATE OWN 5.43 11/12/25 CNY 62.03 WENSHAN URBAN CONSTRUC 4.50 09/13/23 CNY 19.47 WENSHAN URBAN CONSTRUC 4.50 09/13/23 CNY 20.00 WENZHOU CITY CONSTRUCT 5.00 04/26/23 CNY 20.00 WENZHOU CITY CONSTRUCT 5.00 04/26/23 CNY 20.02 WENZHOU HIGH-TECH INDU 5.90 09/18/24 CNY 40.50 WENZHOU HIGH-TECH INDU 5.90 09/18/24 CNY 40.77 WENZHOU MINKE INDUSTRI 6.44 07/18/24 CNY 40.00 WENZHOU MINKE INDUSTRI 6.44 07/18/24 CNY 40.49 WENZHOU OUHAI ECONOMIC 5.45 03/11/26 CNY 60.50 WENZHOU OUHAI ECONOMIC 5.45 03/11/26 CNY 61.82 WENZHOU OUHAI NEW CITY 3.98 10/26/23 CNY 19.94 WENZHOU OUHAI NEW CITY 3.98 10/26/23 CNY 20.10 WINTIME ENERGY GROUP C 7.00 07/05/18 CNY 43.63 WINTIME ENERGY GROUP C 7.30 08/06/18 CNY 43.63 WINTIME ENERGY GROUP C 7.00 08/25/18 CNY 43.63 WINTIME ENERGY GROUP C 6.78 10/23/18 CNY 43.63 WINTIME ENERGY GROUP C 7.00 12/15/18 CNY 43.63 WINTIME ENERGY GROUP C 7.00 03/19/19 CNY 43.63 WINTIME ENERGY GROUP C 7.00 04/26/19 CNY 43.63 WINTIME ENERGY GROUP C 7.70 11/15/20 CNY 43.63 WINTIME ENERGY GROUP C 7.50 11/16/20 CNY 43.63 WINTIME ENERGY GROUP C 7.50 12/06/20 CNY 43.63 WINTIME ENERGY GROUP C 7.90 12/22/20 CNY 43.63 WINTIME ENERGY GROUP C 7.90 03/29/21 CNY 43.63 WINTIME ENERGY GROUP C 7.50 04/04/21 CNY 43.63 WINTIME ENERGY GROUP C 4.75 07/07/22 CNY 43.63 WUHAN CITY HUANPI DIST 5.48 04/19/24 CNY 40.44 WUHAN CITY HUANPI DIST 5.48 04/19/24 CNY 40.58 WUHAN HIGH-TECH HOLDIN 5.60 09/14/27 CNY 72.85 WUHAN HIGH-TECH HOLDIN 5.60 09/14/27 CNY 74.08 WUHAN HONGSHAN CITY CO 5.68 08/10/24 CNY 40.68 WUHAN HONGSHAN CITY CO 5.68 08/10/24 CNY 40.73 WUHAN HONGSHAN CITY CO 5.68 10/12/24 CNY 40.78 WUHAN HONGSHAN CITY CO 5.68 10/12/24 CNY 40.81 WUHAN QIAOKOU STATE OW 3.48 08/29/23 CNY 20.02 WUHAN QIAOKOU STATE OW 3.48 08/29/23 CNY 20.04 WUHAN URBAN CONSTRUCTI 4.99 06/15/24 CNY 50.00 WUHU COMMUNICATIONS IN 3.58 09/23/23 CNY 19.92 WUHU COMMUNICATIONS IN 4.50 04/28/23 CNY 20.00 WUHU COMMUNICATIONS IN 4.50 04/28/23 CNY 20.00 WUHU COMMUNICATIONS IN 3.58 09/23/23 CNY 20.06 WUHU JINGHU CONSTRUCTI 4.37 07/20/23 CNY 20.02 WUHU JINGHU CONSTRUCTI 4.37 07/20/23 CNY 20.07 WUSHENG CITY INVESTMEN 7.05 11/03/24 CNY 39.31 WUSHENG CITY INVESTMEN 7.05 11/03/24 CNY 40.95 WUSU CITY XINGRONG CON 7.50 10/25/25 CNY 60.00 WUSU CITY XINGRONG CON 7.50 10/25/25 CNY 63.35 WUXI EAST SCIENCE & TE 5.73 09/14/24 CNY 40.00 WUXI EAST SCIENCE & TE 5.73 09/14/24 CNY 40.77 WUXI FOOD SCIENCE PARK 5.70 09/28/24 CNY 40.77 WUXI FOOD SCIENCE PARK 5.70 09/28/24 CNY 41.30 WUXI HUIJI INDUSTRY DE 5.27 12/07/25 CNY 61.68 WUXI TAIHU NEW CITY DE 3.47 08/29/23 CNY 19.98 WUXI TAIHU NEW CITY DE 4.49 05/03/23 CNY 20.01 WUXI TAIHU NEW CITY DE 3.47 08/29/23 CNY 20.05 WUXI XIDONG NEW TOWN C 3.92 11/09/23 CNY 20.09 WUXI XIDONG NEW TOWN C 3.92 11/09/23 CNY 20.10 WUXUE URBAN CONSTRUCTI 7.50 04/12/26 CNY 60.00 WUXUE URBAN CONSTRUCTI 7.50 04/12/26 CNY 63.12 WUYANG CONSTRUCTION GR 7.80 09/11/20 CNY 32.48 XIAN HIGH-TECH ZONE CA 6.49 04/25/25 CNY 61.00 XIAN HIGH-TECH ZONE CA 6.49 04/25/25 CNY 61.67 XI'AN HI-TECH HOLDING 6.12 12/27/24 CNY 40.82 XI'AN HI-TECH HOLDING 6.12 12/27/24 CNY 40.87 XI'AN HI-TECH HOLDING 5.87 06/26/25 CNY 60.91 XI'AN PIONEERING PARK 6.20 05/02/24 CNY 40.53 XI'AN PIONEERING PARK 6.20 05/02/24 CNY 40.53 XIANGCHENG LINGWU URBA 7.45 11/10/24 CNY 40.00 XIANGCHENG LINGWU URBA 7.45 11/10/24 CNY 40.47 XIANGTAN CITY INFRASTR 3.60 08/04/23 CNY 19.88 XIANGTAN CITY INFRASTR 3.60 08/04/23 CNY 19.95 XIANGTAN CITY INFRASTR 3.95 08/04/23 CNY 19.97 XIANGTAN CITY INFRASTR 3.95 08/04/23 CNY 19.97 XIANGTAN JIUHUA ECONOM 5.00 07/25/26 CNY 57.46 XIANGTAN JIUHUA ECONOM 5.00 07/25/26 CNY 60.29 XIANGXIANG CITY DONGSH 6.20 08/03/24 CNY 40.32 XIANGXIANG CITY DONGSH 6.20 08/03/24 CNY 40.32 XIANGXIANG ECONOMIC DI 5.28 09/09/23 CNY 19.99 XIANGXIANG ECONOMIC DI 5.28 09/09/23 CNY 20.00 XIANGXIANG URBAN CONST 5.84 05/18/23 CNY 20.02 XIANGXIANG URBAN CONST 5.84 05/18/23 CNY 20.02 XIANGXIANG URBAN CONST 7.50 10/27/24 CNY 40.00 XIANGXIANG URBAN CONST 7.50 10/27/24 CNY 41.53 XIANGYANG CITY HOUSING 6.10 12/15/24 CNY 41.00 XIANGYANG CITY HOUSING 6.10 12/15/24 CNY 41.05 XIANGYANG CITY XIANGZH 5.18 04/28/23 CNY 19.99 XIANGYANG CITY XIANGZH 5.18 04/28/23 CNY 20.00 XIANGYANG HIGH TECH ST 6.25 06/12/24 CNY 40.60 XIANGYANG HIGH TECH ST 6.25 06/12/24 CNY 40.77 XIANGYANG STATE-OWNED 6.10 07/19/24 CNY 40.00 XIANGYANG STATE-OWNED 6.10 07/19/24 CNY 40.49 XIANNING CITY CONSTRUC 5.99 07/27/27 CNY 70.00 XIANNING CITY CONSTRUC 5.99 07/27/27 CNY 72.34 XIANNING HIGH-TECH INV 6.60 06/01/27 CNY 56.09 XIANNING HIGH-TECH INV 6.60 06/01/27 CNY 56.38 XIANTAO CITY CONSTRUCT 4.59 04/18/23 CNY 20.00 XIANTAO CITY CONSTRUCT 4.59 04/18/23 CNY 20.00 XIAOCHANG SHUNHE DEVEL 4.15 10/17/23 CNY 19.94 XIAOGAN URBAN CONSTRUC 6.35 11/10/27 CNY 70.00 XIAOGAN URBAN CONSTRUC 6.35 11/10/27 CNY 73.95 XIAOXIAN COUNTY DEVELO 4.85 06/22/23 CNY 20.03 XIAOXIAN COUNTY 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04/24/24 CNY 40.29 XINYI URBAN TRANSPORTA 5.35 04/24/24 CNY 43.70 XIPING COUNTY INDUSTRI 7.50 12/26/24 CNY 40.00 XIPING COUNTY INDUSTRI 7.50 12/26/24 CNY 40.71 XISHUI COUNTY FENGZHU 6.52 07/28/24 CNY 40.52 XISHUI COUNTY FENGZHU 6.52 07/28/24 CNY 42.50 XIUSHAN HUAXING ENTERP 7.50 09/25/25 CNY 62.36 XIUSHAN HUAXING ENTERP 7.50 09/25/25 CNY 62.36 XIWANG GROUP CO LTD 7.80 12/03/22 CNY 49.94 XIXIAN NEW DISTRICT HO 6.99 12/31/25 CNY 58.94 XUCHANG GENERAL INVEST 5.74 08/17/24 CNY 40.39 XUZHOU CITY JIAWANG CI 7.88 01/28/26 CNY 60.28 XUZHOU CITY JIAWANG CI 7.88 01/28/26 CNY 60.58 YAN'AN NEW CITY CONSTR 5.60 04/21/24 CNY 40.28 YAN'AN NEW CITY CONSTR 5.60 04/21/24 CNY 40.35 YANCHENG GUANDONG ECON 6.42 05/16/24 CNY 40.64 YANCHENG SOUTH DISTRIC 6.00 03/19/25 CNY 41.34 YANCHENG SOUTH DISTRIC 6.00 03/19/25 CNY 41.60 YANGLING URBAN RURAL I 7.80 02/20/26 CNY 60.00 YANGLING URBAN RURAL I 7.80 02/20/26 CNY 61.73 YANGO GROUP CO LTD 7.30 07/12/25 CNY 11.17 YANGO GROUP CO LTD 6.67 10/14/25 CNY 17.11 YANGO 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20.01 YIBIN CUIPING DISTRICT 5.17 03/28/26 CNY 61.93 YIBIN NANXI CAIYUAN ST 8.10 07/24/25 CNY 60.00 YIBIN NANXI CAIYUAN ST 8.10 11/28/25 CNY 60.00 YIBIN NANXI CAIYUAN ST 8.10 07/24/25 CNY 61.59 YIBIN NANXI CAIYUAN ST 8.10 11/28/25 CNY 62.01 YICHANG CHUANGYUAN HOL 7.80 11/06/25 CNY 61.46 YICHANG HIGH-TECH INVE 3.74 07/21/23 CNY 19.97 YICHANG HIGH-TECH INVE 3.74 07/21/23 CNY 20.04 YICHANG HIGH-TECH INVE 6.10 05/18/24 CNY 40.35 YICHANG HIGH-TECH INVE 6.10 05/18/24 CNY 40.49 YICHANG WUJIA NEW CITY 6.50 04/20/24 CNY 40.28 YICHANG WUJIA NEW CITY 6.50 04/20/24 CNY 40.38 YICHUN YUANZHOU STATE- 7.20 03/08/26 CNY 60.00 YICHUN YUANZHOU STATE- 7.20 03/08/26 CNY 61.88 YIDU GUOTONG INVESTMEN 7.00 01/17/26 CNY 61.11 YIDU GUOTONG INVESTMEN 7.00 01/17/26 CNY 62.00 YIHUA LIFESTYLE TECHNO 6.88 07/23/20 CNY 35.00 YIHUA LIFESTYLE TECHNO 6.88 07/16/20 CNY 35.90 YINGCHENG CITY PUYANG 6.50 04/14/24 CNY 20.38 YINGCHENG CITY PUYANG 6.50 04/14/24 CNY 40.28 YINGKOU BEIHAI NEW CIT 7.98 01/25/25 CNY 40.00 YINGKOU BEIHAI NEW CIT 7.19 07/12/24 CNY 40.50 YINGKOU BEIHAI NEW CIT 7.19 07/12/24 CNY 40.71 YINGKOU BEIHAI NEW CIT 7.98 01/25/25 CNY 41.61 YINGKOU ECO & TECH DEV 5.20 08/05/23 CNY 19.81 YINGKOU ECO & TECH DEV 5.20 08/05/23 CNY 20.04 YINGKOU ECO & TECH DEV 6.98 04/19/24 CNY 40.43 YINGKOU ECO & TECH DEV 6.98 04/19/24 CNY 40.47 YIWU CITY CONSTRUCTION 5.48 08/18/24 CNY 40.00 YIWU CITY CONSTRUCTION 5.48 08/18/24 CNY 40.76 YIYANG COUNTY CITY CON 7.50 06/07/25 CNY 60.00 YIYANG COUNTY CITY CON 7.50 06/07/25 CNY 61.18 YIYANG COUNTY CITY CON 7.90 11/05/25 CNY 61.88 YIYANG COUNTY CITY CON 7.90 11/05/25 CNY 62.01 YIYANG LONGLING CONSTR 7.60 01/23/26 CNY 59.14 YIYANG LONGLING CONSTR 7.60 01/23/26 CNY 60.30 YIYANG PROVINCE AREA I 5.16 11/23/23 CNY 19.66 YIYANG PROVINCE AREA I 4.95 10/13/23 CNY 19.84 YIYANG PROVINCE AREA I 4.95 10/13/23 CNY 20.08 YIYANG PROVINCE AREA I 5.16 11/23/23 CNY 20.13 YIYANG URBAN CONSTRUCT 6.43 04/24/25 CNY 61.28 YIYANG URBAN CONSTRUCT 6.43 04/24/25 CNY 61.67 YIYUAN HONGDING ASSET 7.50 08/17/25 CNY 57.49 YIYUAN HONGDING ASSET 7.50 08/17/25 CNY 62.35 YIZHANG XINGYI CONSTRU 5.49 09/02/24 CNY 40.32 YIZHANG XINGYI CONSTRU 5.49 09/02/24 CNY 40.32 YIZHENG ECONOMY DEVELO 6.77 08/22/24 CNY 40.66 YIZHENG ZHONGXIN CONST 5.38 12/20/25 CNY 61.45 YIZHENG ZHONGXIN CONST 5.38 12/20/25 CNY 61.62 YONG ZHOU CITY DEVELOP 5.30 07/13/24 CNY 39.80 YONG ZHOU CITY DEVELOP 5.30 07/13/24 CNY 40.48 YONGAN STATE-OWNED ASS 8.50 11/26/25 CNY 60.00 YONGAN STATE-OWNED ASS 8.50 11/26/25 CNY 62.19 YONGCHENG COAL & ELECT 7.50 02/02/21 CNY 39.88 YONGXING YINDU INVESTM 6.50 08/14/24 CNY 38.60 YONGXING YINDU INVESTM 6.93 07/07/24 CNY 40.00 YONGXING YINDU INVESTM 6.50 08/14/24 CNY 40.51 YONGXING YINDU INVESTM 6.93 07/07/24 CNY 40.61 YONGXIU CITY CONSTRUCT 7.50 05/02/25 CNY 60.00 YONGXIU CITY CONSTRUCT 7.80 08/27/25 CNY 61.28 YONGXIU CITY CONSTRUCT 7.80 08/27/25 CNY 61.53 YONGXIU CITY CONSTRUCT 7.50 05/02/25 CNY 61.72 YOUYANG COUNTY TAOHUAY 7.50 09/28/25 CNY 59.00 YOUYANG COUNTY TAOHUAY 7.50 09/28/25 CNY 62.36 YUANAN COUNTY QIFENG C 5.50 05/27/23 CNY 20.02 YUANAN COUNTY QIFENG C 5.50 05/27/23 CNY 20.02 YUANJIANG CITY CONSTRU 7.50 01/18/26 CNY 62.85 YUANJIANG CITY CONSTRU 7.50 01/18/26 CNY 62.85 YUANLING CHENZHOU INVE 6.50 09/20/24 CNY 40.00 YUANLING CHENZHOU INVE 6.50 11/30/24 CNY 40.00 YUANLING CHENZHOU INVE 6.50 11/30/24 CNY 40.50 YUANLING CHENZHOU INVE 6.50 09/20/24 CNY 40.66 YUDU ZHENXING INVESTME 7.50 05/03/25 CNY 60.49 YUDU ZHENXING INVESTME 7.50 05/03/25 CNY 60.97 YUEYANG HUIHUA URBAN I 5.78 04/18/24 CNY 40.23 YUEYANG HUIHUA URBAN I 5.78 04/18/24 CNY 40.25 YUEYANG HUIHUA URBAN I 5.96 07/26/24 CNY 40.45 YUEYANG HUIHUA URBAN I 5.96 07/26/24 CNY 40.46 YUEYANG URBAN CONSTRUC 4.80 01/27/26 CNY 45.84 YUEYANG URBAN CONSTRUC 4.80 01/27/26 CNY 46.01 YUEYANG YUNXI CITY CON 5.18 11/21/23 CNY 19.92 YUEYANG YUNXI CITY CON 6.00 07/08/23 CNY 20.00 YUHUAN CITY CONSTRUCTI 3.72 10/21/23 CNY 19.96 YUHUAN CITY CONSTRUCTI 5.10 05/03/23 CNY 20.00 YUHUAN CITY CONSTRUCTI 5.10 05/03/23 CNY 20.01 YUHUAN CITY CONSTRUCTI 3.72 10/21/23 CNY 20.03 YUHUAN COUNTY STATE-OW 6.45 11/23/25 CNY 62.28 YUNCHENG SHUIHU CITY C 4.54 11/21/23 CNY 19.61 YUNCHENG SHUIHU CITY C 4.54 11/21/23 CNY 19.99 YUNCHENG URBAN CONSTRU 6.30 08/29/24 CNY 39.04 YUNCHENG URBAN CONSTRU 6.30 08/29/24 CNY 40.11 YUNYANG RENHE INVESTME 7.49 05/04/25 CNY 60.91 YUNYANG RENHE INVESTME 7.49 05/04/25 CNY 62.37 YUTAI XINDA ECONOMIC D 7.50 04/10/26 CNY 58.80 YUTAI XINDA ECONOMIC D 7.50 04/10/26 CNY 64.06 ZHANGJIAGANG ECONOMY D 5.27 12/13/25 CNY 61.98 ZHANGJIAJIE ECONOMIC D 6.47 07/24/27 CNY 62.50 ZHANGJIAJIE ECONOMIC D 6.47 07/24/27 CNY 68.59 ZHANGJIAJIE LOULI TOWN 7.50 03/26/26 CNY 63.14 ZHANGJIAJIE LOULI TOWN 7.50 03/26/26 CNY 63.14 ZHANGQIU STATE OWNED A 3.69 08/09/23 CNY 19.98 ZHANGQIU STATE OWNED A 3.69 08/09/23 CNY 19.99 ZHANGSHU STATE-OWNED A 4.80 06/22/23 CNY 20.05 ZHANGSHU STATE-OWNED A 4.80 06/22/23 CNY 23.70 ZHANGZHOU LONGHAI STAT 7.35 01/28/26 CNY 62.44 ZHANGZHOU LONGHAI STAT 7.35 01/28/26 CNY 62.51 ZHAODONG DONGSHENG CON 6.50 01/20/24 CNY 20.31 ZHAODONG DONGSHENG CON 6.50 01/20/24 CNY 20.31 ZHAOQING HI-TECH ZONE 3.97 08/26/23 CNY 19.96 ZHAOQING HI-TECH ZONE 3.97 08/26/23 CNY 20.03 ZHEJIANG CHANGXING HUA 7.50 12/26/25 CNY 60.00 ZHEJIANG CHANGXING HUA 7.50 12/26/25 CNY 61.44 ZHEJIANG HANGZHOU QING 5.99 06/30/24 CNY 40.69 ZHEJIANG HANGZHOU QING 5.99 06/30/24 CNY 40.69 ZHEJIANG HUISHENG INVE 4.49 03/15/24 CNY 24.99 ZHEJIANG HUISHENG INVE 4.49 03/15/24 CNY 25.00 ZHEJIANG HUZHOU NANXUN 7.40 03/12/26 CNY 60.00 ZHEJIANG HUZHOU NANXUN 7.80 08/21/25 CNY 61.40 ZHEJIANG TIANTAI STATE 6.50 11/22/24 CNY 40.00 ZHEJIANG TIANTAI STATE 6.50 11/22/24 CNY 41.17 ZHEJIANG WUYI CITY CON 8.00 08/10/25 CNY 60.00 ZHEJIANG WUYI CITY CON 8.00 12/21/25 CNY 60.00 ZHEJIANG WUYI CITY CON 8.00 08/10/25 CNY 61.71 ZHEJIANG WUYI CITY CON 8.00 12/21/25 CNY 61.99 ZHENGZHOU GENERAL AVIA 5.98 06/27/24 CNY 40.00 ZHENGZHOU GENERAL AVIA 5.80 10/18/24 CNY 40.00 ZHENGZHOU GENERAL AVIA 5.98 06/27/24 CNY 40.73 ZHENGZHOU GENERAL AVIA 5.80 10/18/24 CNY 40.90 ZHENGZHOU MOUZHONG DEV 4.59 04/18/23 CNY 20.00 ZHENGZHOU MOUZHONG DEV 4.59 04/18/23 CNY 20.00 ZHENJIANG DANTU DISTRI 5.98 11/06/24 CNY 41.06 ZHENJIANG NEW AREA URB 5.31 07/14/23 CNY 20.06 ZHENJIANG NEW AREA URB 5.31 07/14/23 CNY 20.06 ZHENRO REAL ESTATE HOL 5.45 09/14/24 CNY 25.40 ZHIJIANG WANYUN COMMUN 7.00 08/29/24 CNY 45.93 ZHONGSHAN TORCH DEVELO 5.79 03/23/24 CNY 20.49 ZHONGXIANG CITY CONSTR 6.50 09/01/24 CNY 40.69 ZHONGXIANG CITY CONSTR 6.50 09/01/24 CNY 40.89 ZHOUSHAN CITY INVESTME 6.33 04/04/25 CNY 41.00 ZHOUSHAN CITY INVESTME 6.33 04/04/25 CNY 41.80 ZHOUSHAN CITY INVESTME 5.94 10/22/25 CNY 62.00 ZHOUSHAN CITY INVESTME 5.94 10/22/25 CNY 62.29 ZHOUSHAN ISLANDS NEW D 7.00 09/25/26 CNY 70.00 ZHOUSHAN ISLANDS NEW D 7.50 01/30/27 CNY 70.00 ZHOUSHAN ISLANDS NEW D 7.00 09/25/26 CNY 73.38 ZHOUSHAN PUTUO DISTRIC 6.60 01/25/27 CNY 70.00 ZHOUSHAN PUTUO DISTRIC 6.30 03/21/27 CNY 70.00 ZHOUSHAN PUTUO DISTRIC 6.60 01/25/27 CNY 74.00 ZHOUSHAN PUTUO DISTRIC 6.30 03/21/27 CNY 74.13 ZHUCHENG ECONOMIC DEVE 5.37 07/12/24 CNY 40.00 ZHUCHENG ECONOMIC DEVE 5.37 07/12/24 CNY 40.17 ZHUHAI HUIHUA INFRASTR 4.70 06/27/23 CNY 20.01 ZHUHAI HUIHUA INFRASTR 4.70 06/27/23 CNY 20.02 ZHUJI CITY EAST NEW TO 3.89 08/26/23 CNY 19.99 ZHUJI CITY EAST NEW TO 3.89 08/26/23 CNY 20.03 ZHUJI STATE-OWNED ASSE 5.34 06/28/24 CNY 40.49 ZHUJI STATE-OWNED ASSE 5.23 07/18/24 CNY 40.51 ZHUJI STATE-OWNED ASSE 5.34 06/28/24 CNY 42.50 ZHUZHOU GECKOR GROUP C 3.78 09/28/23 CNY 19.92 ZHUZHOU GECKOR GROUP C 3.78 09/28/23 CNY 19.93 ZHUZHOU HI-TECH AUTO E 4.47 11/03/23 CNY 24.68 ZHUZHOU LUSONG STATE O 7.00 01/30/25 CNY 41.55 ZHUZHOU LVXIANG INVEST 7.09 08/16/24 CNY 38.78 ZHUZHOU LVXIANG INVEST 7.09 08/16/24 CNY 40.42 ZHUZHOU RAILWAY INDUST 7.50 09/25/24 CNY 40.77 ZHUZHOU XIANGJIAN INVE 6.40 08/09/24 CNY 40.00 ZHUZHOU XIANGJIAN INVE 6.40 08/09/24 CNY 40.37 ZIBO BOSHAN STATE OWNE 5.63 03/29/24 CNY 20.09 ZIBO BOSHAN STATE OWNE 5.63 03/29/24 CNY 20.17 ZIBO HIGH TECH CITY IN 5.28 08/10/24 CNY 40.59 ZIBO HIGH TECH CITY IN 5.28 08/10/24 CNY 44.80 ZIBO HIGH TECH CITY IN 5.03 04/03/26 CNY 62.00 ZIGUI COUNTY CHUYUAN H 7.08 08/14/27 CNY 70.00 ZIGUI COUNTY CHUYUAN H 7.80 02/12/28 CNY 70.00 ZIGUI COUNTY CHUYUAN H 7.80 02/12/28 CNY 73.19 ZIGUI COUNTY CHUYUAN H 7.08 08/14/27 CNY 73.78 ZIXING CHENGCHENG INVE 6.20 03/16/24 CNY 20.26 ZIXING CHENGCHENG INVE 6.20 03/16/24 CNY 20.37 ZIXING CHENGCHENG INVE 6.18 08/09/24 CNY 40.00 ZIXING CHENGCHENG INVE 6.18 08/09/24 CNY 40.51 ZIXING CITY DEVELOPMEN 6.30 09/26/24 CNY 40.00 ZIXING CITY DEVELOPMEN 6.00 05/03/24 CNY 40.28 ZIXING CITY DEVELOPMEN 6.00 05/03/24 CNY 40.28 ZIXING CITY DEVELOPMEN 6.30 09/26/24 CNY 40.43 ZIYANG KAILI INVESTMEN 8.00 02/14/26 CNY 54.58 ZONGYANG INVESTMENT DE 5.85 04/25/24 CNY 40.00 ZONGYANG INVESTMENT DE 5.85 04/25/24 CNY 40.49 ZOUCHENG CITY LONGCHEN 7.50 01/16/29 CNY 71.01 ZUNYI BOZHOU URBAN CON 6.60 07/06/24 CNY 40.54 ZUNYI BOZHOU URBAN CON 6.60 07/06/24 CNY 40.54 ZUNYI BOZHOU URBAN CON 7.85 10/24/24 CNY 40.72 ZUNYI CITY XIANGJIANG 6.99 09/25/24 CNY 40.84 ZUNYI ECONOMIC DEVELOP 7.48 08/17/24 CNY 37.80 ZUNYI ECONOMIC DEVELOP 7.48 08/17/24 CNY 40.91 ZUNYI HONGHUAGANG DIST 5.05 06/27/23 CNY 19.74 ZUNYI HONGHUAGANG DIST 5.05 06/27/23 CNY 20.02 ZUNYI HONGHUAGANG DIST 6.98 07/25/24 CNY 40.69 ZUNYI HONGHUAGANG DIST 6.98 07/25/24 CNY 40.69 ZUNYI NEW DISTRICT DEV 5.99 04/07/26 CNY 28.72 ZUNYI NEW DISTRICT DEV 5.99 04/07/26 CNY 30.40 ZUNYI ROAD & BRIDGE CO 6.10 04/27/23 CNY 24.97 ZUNYI ROAD & BRIDGE CO 6.10 04/27/23 CNY 24.99 ZUNYI TRAFFIC TRAVEL I 7.70 09/27/27 CNY 53.00 ZUNYI TRAFFIC TRAVEL I 7.70 09/27/27 CNY 63.31 ZUNYI TRAFFIC TRAVEL I 7.90 06/06/29 CNY 71.93 ZUNYI URBAN CONSTRUCTI 7.50 05/20/24 CNY 70.44 HONG KONG --------- AIRPORT AUTHORITY 2.63 02/04/51 USD 69.15 AIRPORT AUTHORITY 2.63 02/04/51 USD 69.57 CNAC HK FINBRIDGE CO L 3.70 09/22/50 USD 64.29 DR PENG HOLDING HONGKO 2.50 12/01/25 USD 41.10 HAINAN AIRLINES HONG K 12.00 10/29/21 USD 2.75 HKCG FINANCE LTD 2.57 06/29/50 HKD 67.96 HKCG FINANCE LTD 2.57 05/26/50 HKD 68.01 HKCG FINANCE LTD 2.94 10/18/49 HKD 73.98 HKCG FINANCE LTD 2.94 10/28/49 HKD 74.15 HNA GROUP INTERNATIONA 6.25 10/05/21 USD 5.00 HONG KONG GOVERNMENT I 1.00 11/24/41 EUR 62.20 HONG KONG GOVERNMENT I 2.38 02/02/51 USD 67.41 HONG KONG GOVERNMENT I 2.38 02/02/51 USD 67.61 HONG KONG MORTGAGE COR 2.65 07/26/49 HKD 72.25 HONGKONG IDEAL INVESTM 14.75 10/08/22 USD 5.14 MTR CORP LTD 2.88 07/27/46 USD 68.91 MTR CORP LTD 2.55 06/24/55 HKD 71.76 XIAOMI BEST TIME INTER 4.10 07/14/51 USD 60.78 XIAOMI BEST TIME INTER 4.10 07/14/51 USD 60.83 ZENSUN ENTERPRISES LTD 12.50 04/23/24 USD 36.35 ZENSUN ENTERPRISES LTD 12.50 09/13/23 USD 36.38 INDONESIA --------- BERAU COAL ENERGY TBK 2.00 10/15/28 USD 25.00 BERAU COAL ENERGY TBK 2.00 10/15/28 USD 25.00 DAVOMAS INTERNATIONAL 11.00 12/08/14 USD 1.75 DAVOMAS INTERNATIONAL 11.00 12/08/14 USD 1.75 DAVOMAS INTERNATIONAL 11.00 05/09/11 USD 1.75 DAVOMAS INTERNATIONAL 11.00 05/09/11 USD 1.75 DELTA MERLIN DUNIA TEK 2.50 06/26/28 USD 27.61 INDOFOOD CBP SUKSES MA 4.81 04/27/52 USD 75.38 INDOFOOD CBP SUKSES MA 4.75 06/09/51 USD 75.46 INDONESIA GOVERNMENT I 3.35 03/12/71 USD 69.30 INDONESIA GOVERNMENT I 3.20 09/23/61 USD 69.64 INDONESIA GOVERNMENT I 1.30 03/23/34 EUR 73.41 INDONESIA GOVERNMENT I 1.10 03/12/33 EUR 74.06 INDONESIA GOVERNMENT I 3.05 03/12/51 USD 74.78 KAWASAN INDUSTRI JABAB 7.00 12/15/27 USD 68.85 KAWASAN INDUSTRI JABAB 7.00 12/15/27 USD 69.00 PERUSAHAAN PERSEROAN P 4.00 06/30/50 USD 73.96 PERUSAHAAN PERSEROAN P 4.00 06/30/50 USD 74.02 PERUSAHAAN PERSEROAN P 1.88 11/05/31 EUR 74.69 SRI REJEKI ISMAN TBK P 7.25 01/16/25 USD 3.29 SRI REJEKI ISMAN TBK P 7.25 01/16/25 USD 3.45 INDIA ----- ACME RANGA REDDY SOLAR 0.01 08/31/46 INR 15.75 ACME RANGA REDDY SOLAR 0.01 01/26/46 INR 16.56 ADANI ELECTRICITY MUMB 3.87 07/22/31 USD 69.95 ADANI ELECTRICITY MUMB 3.87 07/22/31 USD 70.22 ADANI ELECTRICITY MUMB 3.95 02/12/30 USD 71.84 ADANI ELECTRICITY MUMB 3.95 02/12/30 USD 72.38 ADANI INTERNATIONAL CO 3.00 02/16/31 USD 74.30 ADANI INTERNATIONAL CO 3.00 02/16/31 USD 74.69 ADANI PORTS & SPECIAL 5.00 08/02/41 USD 62.45 ADANI PORTS & SPECIAL 5.00 08/02/41 USD 63.06 ADANI PORTS & SPECIAL 3.10 02/02/31 USD 65.09 ADANI PORTS & SPECIAL 3.10 02/02/31 USD 65.18 ADANI PORTS & SPECIAL 3.83 02/02/32 USD 65.28 ADANI PORTS & SPECIAL 3.83 02/02/32 USD 65.32 ADANI RENEWABLE ENERGY 4.63 10/15/39 USD 70.76 ADANI RENEWABLE ENERGY 4.63 10/15/39 USD 71.08 ADANI TRANSMISSION STE 4.25 05/21/36 USD 70.66 ADANI TRANSMISSION STE 4.25 05/21/36 USD 70.75 ALANKRIT ESTATES LTD 0.01 10/20/32 INR 45.95 AMPSOLAR SOLUTION PVT 0.01 11/03/37 INR 31.14 AMPSOLAR SOLUTION PVT 0.01 10/27/37 INR 31.19 AMTEK AUTO LTD 0.10 12/07/28 INR 59.25 ANSR GLOBAL CORP PVT L 4.00 02/12/30 INR 71.62 APG HABITAT PVT LTD 1.00 09/09/28 INR 66.53 APG INTELLI HOMES PVT 1.25 02/04/35 INR 47.16 APG INTELLI HOMES PVT 1.25 02/04/35 INR 47.53 ARCHEAN CHEMICAL INDUS 0.01 11/22/28 INR 61.28 ARVIND SMARTHOMES PVT 3.00 02/22/33 INR 69.43 ASSETS CARE & RECONSTR 2.05 04/30/31 INR 64.58 ASSETS CARE & RECONSTR 1.00 03/30/29 INR 66.50 ASSETS CARE & RECONSTR 2.00 03/31/30 INR 67.71 ASSETS CARE & RECONSTR 2.00 03/30/29 INR 71.18 ASSETS CARE & RECONSTR 2.00 03/30/29 INR 71.18 AUTHBRIDGE RESEARCH SE 0.10 12/03/31 INR 44.82 AUTHBRIDGE RESEARCH SE 0.10 10/14/31 INR 45.31 AUTOMOTIVE EXCHANGE PV 4.00 10/11/30 INR 60.90 AUTOMOTIVE EXCHANGE PV 4.00 06/01/30 INR 61.42 BHAGERIA & JAJODIA PHA 0.01 12/01/32 INR 45.72 BIG SHOT INFRA FACILIT 0.01 02/23/28 INR 65.21 BIG SHOT INFRA FACILIT 0.01 07/18/27 INR 68.53 BIG SHOT INFRA FACILIT 0.01 06/30/27 INR 68.82 BIG SHOT INFRA FACILIT 0.01 05/20/27 INR 69.46 BIG SHOT INFRA FACILIT 0.01 04/20/27 INR 69.94 BODY CUPID PVT LTD 0.01 03/31/31 INR 52.43 BREEZE CONSTRUCTIONS P 0.01 06/29/30 INR 52.86 BRITANNIA INDUSTRIES L 5.50 06/03/24 INR 28.31 BROIL SOLAR ENERGY PVT 0.01 09/05/31 INR 49.32 CASTEX TECHNOLOGIES LT 1.00 11/02/29 INR 62.84 CHANDRAJYOTI ESTATE DE 0.01 07/06/30 INR 54.08 CONVERGIA DIGITAL EDUC 0.10 09/29/31 INR 56.77 CROPIN TECHNOLOGY SOLU 0.01 01/12/31 INR 59.81 CROPIN TECHNOLOGY SOLU 0.01 12/20/30 INR 60.00 CROPIN TECHNOLOGY SOLU 0.01 09/25/27 INR 71.60 CROPIN TECHNOLOGY SOLU 0.01 02/27/27 INR 74.19 CUMULUS TRADING CO PVT 0.01 05/21/32 INR 46.08 CUMULUS TRADING CO PVT 0.01 01/23/30 INR 75.02 DLF ASPINWAL HOTELS PV 0.01 10/15/30 INR 49.73 DLF HOME DEVELOPERS LT 0.01 06/29/30 INR 52.30 DLF HOMES PANCHKULA PV 0.01 06/29/30 INR 52.86 DLF HOMES SERVICES PVT 0.01 06/29/30 INR 52.86 DLF LANDS INDIA PVT LT 0.01 09/29/31 INR 48.57 DLF MIDTOWN PVT LTD 0.01 12/11/27 INR 67.59 DLF PROPERTY DEVELOPER 0.01 08/12/30 INR 53.74 DLF PROPERTY DEVELOPER 0.01 06/29/30 INR 54.25 DLF REAL ESTATE BUILDE 0.01 06/23/30 INR 53.97 DLF RECREATIONAL FOUND 0.01 10/15/30 INR 49.73 DLF RESIDENTIAL BUILDE 0.01 06/23/30 INR 52.86 DLF RESIDENTIAL DEVELO 0.01 06/28/30 INR 55.57 DLF RESIDENTIAL DEVELO 0.01 06/28/30 INR 55.57 DLF RESIDENTIAL PARTNE 0.01 11/16/32 INR 45.85 DLF SOUTHERN TOWNS PVT 0.01 07/09/30 INR 57.97 DLF URBAN PVT LTD 0.01 12/11/27 INR 68.49 DOMUS REAL ESTATE PVT 0.01 07/11/30 INR 54.12 ECAP EQUITIES LTD 0.01 03/30/32 INR 49.87 ECAP EQUITIES LTD 0.01 12/28/31 INR 50.85 ECAP EQUITIES LTD 0.01 03/26/31 INR 53.88 EDELWEISS ASSET RECONS 2.00 07/22/29 INR 68.95 EDELWEISS ASSET RECONS 2.00 03/28/29 INR 70.12 EDELWEISS ASSET RECONS 2.00 01/15/29 INR 70.86 EDELWEISS ASSET RECONS 2.00 10/07/28 INR 71.91 EDELWEISS INVESTMENT A 0.01 05/31/29 INR 59.62 EDELWEISS RURAL & CORP 0.01 03/25/31 INR 53.01 ELP SOLAR ONE PVT LTD 0.25 02/27/31 INR 52.61 ENGENDER DEVELOPERS PV 0.01 03/30/41 INR 21.85 ENGENDER DEVELOPERS PV 0.01 02/29/32 INR 46.15 ESSAR POWER TRANSMISSI 3.00 03/31/43 INR 45.40 ESSAR POWER TRANSMISSI 3.00 03/31/43 INR 45.40 EVAAN HOLDINGS PVT LTD 1.00 02/14/33 INR 51.08 EVIE REAL ESTATE PVT L 0.01 01/26/28 INR 69.67 EVIE REAL ESTATE PVT L 1.00 03/27/27 INR 74.20 FUTURE RETAIL LTD 5.60 01/22/25 USD 0.58 FUTURE RETAIL LTD 5.60 01/22/25 USD 0.82 GALFAR ENGINEERING & C 0.01 12/12/34 INR 35.32 GALLERIA PROPERTY MANA 0.01 12/30/31 INR 48.58 GAMMA GAANA LTD 0.01 07/31/31 INR 49.31 GOLD PLUS GLASS INDUST 0.10 03/03/29 INR 60.78 GOLD PLUS GLASS INDUST 0.10 03/03/29 INR 60.78 GREEN URJA PVT LTD 0.01 02/14/30 INR 55.96 HCL INFOTECH LTD 0.10 03/31/36 INR 35.58 HITODI INFRASTRUCTURE 0.01 06/30/27 INR 66.73 IBROX AVIATION AND TRA 0.01 12/15/27 INR 63.54 INDIABULLS HOUSING FIN 4.50 09/28/26 USD 71.79 INDIADOTCOM DIGITAL PV 0.01 03/01/32 INR 67.00 JAIPRAKASH ASSOCIATES 5.75 09/08/17 USD 55.13 JAIPRAKASH POWER VENTU 7.00 05/15/17 USD 6.25 JCT LTD 2.50 04/08/11 USD 25.75 JSM CORP PVT LTD 0.01 08/31/36 INR 33.02 JTPM ATSALI LTD 0.01 08/29/48 INR 13.28 JTPM ATSALI LTD 0.01 12/28/28 INR 62.47 KANAKADURGA FINANCE LT 0.01 04/15/36 INR 31.66 KARMALA ROAD PROJECT P 0.01 12/09/32 INR 45.00 KIRTIMAAN BUILDERS LTD 0.01 10/20/32 INR 45.95 KUSHALS RETAIL PVT LTD 1.00 05/13/29 INR 60.30 L&T FINANCE LTD 6.25 12/03/24 INR 67.98 LITMUS WORLD MARKETING 0.01 03/31/28 INR 69.50 LOCON SOLUTIONS PVT LT 0.01 07/22/30 INR 49.53 LOK SUVIDHA FINANCE LT 0.01 11/30/31 INR 44.91 MAHATVA PLASTIC PRODUC 0.01 01/24/28 INR 66.79 MAHATVA PLASTIC PRODUC 0.01 11/21/27 INR 67.74 MAHATVA PLASTIC PRODUC 0.01 05/19/27 INR 70.58 MAHATVA PLASTIC PRODUC 0.01 05/03/27 INR 70.83 MAHATVA PLASTIC PRODUC 0.01 03/29/27 INR 71.38 MAKAAN.COM PVT LTD 0.01 07/22/30 INR 49.89 MANJRI DEVELOPERS PVT 0.01 08/05/39 INR 25.41 MARGO NETWORKS PVT LTD 0.01 03/24/32 INR 56.51 MARIS POWER SUPPLY CO 2.00 04/18/28 INR 74.01 MAXIMUS ARC LTD 0.01 10/07/26 INR 71.36 MAXIMUS ARC LTD 0.01 04/08/26 INR 74.68 MELOSA BUILDERS & DEVE 0.01 06/29/30 INR 52.86 MENS BUILDCON PVT LTD 0.01 06/29/30 INR 52.86 METALITE FUEL INDUSTRI 0.01 06/18/36 INR 34.55 METALITE FUEL INDUSTRI 0.01 03/31/35 INR 38.03 MUDIT CEMENT PVT LTD 0.01 03/28/27 INR 69.29 MYTRAH AADHYA POWER PV 0.01 07/05/35 INR 36.72 MYTRAH ADVAITH POWER P 0.01 07/13/36 INR 33.76 MYTRAH AKSHAYA ENERGY 0.01 07/13/36 INR 33.76 NANI VIRANI WIND ENERG 2.00 06/30/39 INR 44.92 NEEMUCH SOLAR POWER PV 0.01 08/29/46 INR 16.02 NEEMUCH SOLAR POWER PV 0.01 01/26/46 INR 16.83 NHAVA SHEVA INTERNATIO 0.01 04/14/27 INR 70.32 NSL KRISHNAVENI SUGARS 0.01 12/23/31 INR 45.84 ORIGAMI CELLULO PVT LT 0.01 11/14/36 INR 32.96 PALIWAL REAL ESTATE LT 0.01 09/09/31 INR 47.95 PIRAMAL CAPITAL & HOUS 8.50 04/18/23 INR 34.25 PRAKASH INDUSTRIES LTD 5.25 04/30/15 USD 22.63 PRIDHVI ASSET RECONSTR 0.01 06/07/26 INR 74.83 PRUDENT ARC LTD 0.01 03/30/32 INR 46.84 PRUDENT ARC LTD 0.01 10/04/31 INR 48.63 PRUDENT ARC LTD 0.01 09/02/31 INR 49.21 PUNJAB INFRASTRUCTURE 0.40 10/15/33 INR 48.11 PUNJAB INFRASTRUCTURE 0.40 10/15/32 INR 51.67 PUNJAB INFRASTRUCTURE 0.40 10/15/31 INR 55.50 PUNJAB INFRASTRUCTURE 0.40 10/15/30 INR 59.58 PUNJAB INFRASTRUCTURE 0.40 10/15/29 INR 63.94 PUNJAB INFRASTRUCTURE 0.40 10/15/28 INR 68.59 PUNJAB INFRASTRUCTURE 0.40 10/15/27 INR 73.56 PURVANCHAL SOLAR POWER 0.01 08/29/46 INR 16.02 PURVANCHAL SOLAR POWER 0.01 01/26/46 INR 16.83 PYRAMID SAIMIRA THEATR 1.75 07/04/12 USD 0.26 R L FINE CHEM PVT LTD 0.10 08/19/36 INR 33.32 RAMANI ICECREAM CO LTD 0.01 12/29/35 INR 35.75 RANKGURU TECHNOLOGY SO 0.01 03/31/27 INR 66.46 RANKGURU TECHNOLOGY SO 0.01 02/11/27 INR 67.26 REDKITE CAPITAL PVT LT 2.50 03/30/29 INR 72.07 REI AGRO LTD 5.50 11/13/14 USD 0.50 REI AGRO LTD 5.50 11/13/14 USD 0.50 RELIANCE COMMUNICATION 6.50 11/06/20 USD 2.18 RELIANCE INDUSTRIES LT 3.75 01/12/62 USD 69.80 RELIANCE INDUSTRIES LT 3.75 01/12/62 USD 69.80 RELIANCE INDUSTRIES LT 3.63 01/12/52 USD 70.49 RELIANCE INDUSTRIES LT 3.63 01/12/52 USD 70.55 RENEW FAZILKA SOLAR PO 0.01 01/26/46 INR 16.57 RENEW MEDAK POWER PVT 0.01 08/29/46 INR 16.02 RENEW MEDAK POWER PVT 0.01 01/26/46 INR 16.83 REWANCHAL SOLAR POWER 0.01 08/29/46 INR 16.02 REWANCHAL SOLAR POWER 0.01 01/26/46 INR 16.83 RIVERIA COMMERCIAL DEV 0.01 07/08/31 INR 48.07 RMZ ONE PARAMOUNT PVT 0.10 03/24/29 INR 58.92 RRB ENERGY LTD 3.50 11/08/32 INR 66.54 SAHIB FINLEASE LTD 1.00 10/29/29 INR 62.00 SAKET HOLIDAYS RESORTS 0.01 06/29/30 INR 53.93 SANJWIN CONSULTING SOL 0.01 06/01/28 INR 62.63 SBSR POWER CLEANTECH E 0.01 06/15/42 INR 20.82 SHERISHA ROOFTOP SOLAR 0.01 08/12/31 INR 47.83 SHIVAJI MARG MAINTENAN 0.01 06/28/30 INR 53.65 SHREE UTTAM STEEL & PO 0.10 07/12/32 INR 46.46 SINTEX INDUSTRIES LTD 3.50 05/25/22 USD 1.00 SKIPPER PLASTICS LTD 1.00 08/16/32 INR 51.53 STPL HORTICULTURE PVT 0.01 03/31/31 INR 59.19 SUNWORLD SOLAR POWER P 0.01 08/31/46 INR 16.01 SUNWORLD SOLAR POWER P 0.01 01/26/46 INR 16.83 SURBHI INVESTMENTS & T 2.50 10/21/28 INR 73.56 SUTARA ROADS & INFRA L 0.01 08/31/30 INR 59.15 SUZLON ENERGY LTD 5.75 07/16/19 USD 20.76 SUZLON ENERGY LTD 5.75 07/16/19 USD 20.76 SUZLON ENERGY LTD 0.01 06/26/30 INR 49.22 SVOGL OIL GAS & ENERGY 5.00 08/17/15 USD 0.61 TATA SMARTFOODZ LTD 0.01 08/19/26 INR 73.86 TATA SMARTFOODZ LTD 0.01 06/28/26 INR 74.76 TN URJA PVT LTD 0.10 02/22/36 INR 36.66 UJAGAR ESTATES LTD 0.01 10/20/32 INR 45.95 UPAKARMA AYURVEDA PVT 0.10 10/27/32 INR 55.73 VENTO ENERGY INFRA PVT 0.01 09/20/39 INR 26.03 VIKRANT FORGE PVT LTD 2.00 03/25/33 INR 57.43 WATSUN INFRABUILD PVT 4.00 10/16/37 INR 65.04 YBRANT ENGINEERING & C 0.01 05/07/31 INR 51.58 YOGINDERA POWERS LTD 0.01 01/24/42 INR 38.95 JAPAN ----- AVANSTRATE INC 0.25 10/29/32 JPY 9.75 DEVELOPMENT BANK OF JA 1.65 05/07/49 EUR 68.00 DEVELOPMENT BANK OF JA 0.56 11/14/34 EUR 69.99 DEVELOPMENT BANK OF JA 0.89 07/16/70 JPY 72.50 DEVELOPMENT BANK OF JA 0.48 12/16/59 JPY 73.22 EAST JAPAN RAILWAY CO 0.81 07/23/69 JPY 63.92 EAST JAPAN RAILWAY CO 1.10 09/15/39 EUR 66.18 EAST JAPAN RAILWAY CO 0.50 07/28/56 JPY 68.27 EAST JAPAN RAILWAY CO 0.99 04/22/70 JPY 69.07 EAST JAPAN RAILWAY CO 0.77 09/15/34 EUR 71.99 EAST JAPAN RAILWAY CO 0.77 12/23/59 JPY 72.55 EAST JAPAN RAILWAY CO 1.14 04/15/71 JPY 73.20 EAST JAPAN RAILWAY CO 1.15 12/18/70 JPY 73.65 EAST JAPAN RAILWAY CO 0.83 04/22/60 JPY 73.96 EAST JAPAN RAILWAY CO 1.18 12/17/71 JPY 74.07 EAST JAPAN RAILWAY CO 1.21 07/15/71 JPY 75.15 HIS CO LTD 0.58 02/19/27 JPY 63.74 JAPAN EXPRESSWAY HOLDI 0.35 08/29/59 JPY 69.81 JAPAN EXPRESSWAY HOLDI 0.83 03/19/59 JPY 69.96 JAPAN EXPRESSWAY HOLDI 0.30 06/30/56 JPY 70.76 JAPAN EXPRESSWAY HOLDI 0.84 03/19/58 JPY 71.77 JAPAN EXPRESSWAY HOLDI 0.43 02/27/60 JPY 71.84 JAPAN EXPRESSWAY HOLDI 0.44 03/19/54 JPY 72.26 JAPAN EXPRESSWAY HOLDI 0.44 10/31/59 JPY 72.32 JAPAN EXPRESSWAY HOLDI 0.88 03/19/59 JPY 72.57 JAPAN EXPRESSWAY HOLDI 0.63 03/19/59 JPY 72.90 JAPAN EXPRESSWAY HOLDI 0.46 06/30/59 JPY 73.12 JAPAN EXPRESSWAY HOLDI 0.75 03/19/54 JPY 73.46 JAPAN EXPRESSWAY HOLDI 0.71 03/19/54 JPY 73.50 JAPAN EXPRESSWAY HOLDI 0.29 06/18/49 JPY 73.54 JAPAN EXPRESSWAY HOLDI 0.94 03/19/60 JPY 73.60 JAPAN EXPRESSWAY HOLDI 0.97 03/19/60 JPY 74.34 JAPAN EXPRESSWAY HOLDI 0.54 06/30/60 JPY 74.66 JAPAN EXPRESSWAY HOLDI 0.84 03/19/55 JPY 74.68 JAPAN EXPRESSWAY HOLDI 0.94 03/17/56 JPY 75.36 JAPAN EXPRESSWAY HOLDI 0.48 08/31/56 JPY 75.49 JAPAN EXPRESSWAY HOLDI 0.57 08/31/60 JPY 75.49 JAPAN FINANCE ORGANIZA 1.88 10/15/35 AUD 64.73 JAPAN FINANCE ORGANIZA 2.00 11/27/35 AUD 65.61 JAPAN FINANCE ORGANIZA 0.49 07/28/56 JPY 72.01 JAPAN FINANCE ORGANIZA 0.63 04/28/60 JPY 73.20 JAPAN FINANCE ORGANIZA 0.63 04/30/60 JPY 73.28 JAPAN FINANCE ORGANIZA 0.63 04/23/60 JPY 73.33 JAPAN FINANCE ORGANIZA 0.63 04/28/60 JPY 73.34 JAPAN FINANCE ORGANIZA 1.49 12/09/30 AUD 73.49 JAPAN FINANCE ORGANIZA 1.49 11/27/30 AUD 73.68 JAPAN FINANCE ORGANIZA 0.65 01/28/60 JPY 74.17 JAPAN GOVERNMENT FORTY 0.40 03/20/56 JPY 74.53 MITSUBISHI ESTATE CO L 1.13 04/18/69 JPY 73.08 MITSUBISHI ESTATE CO L 0.79 06/27/56 JPY 74.17 MITSUI FUDOSAN CO LTD 1.03 03/17/70 JPY 70.33 MIZUHO BANK LTD 3.92 06/13/46 USD 73.83 MIZUHO FINANCIAL GROUP 0.84 04/12/33 EUR 72.59 MIZUHO SECURITIES CO L 2.02 12/10/35 USD 66.51 MIZUHO SECURITIES CO L 2.05 12/21/35 USD 66.71 MIZUHO SECURITIES CO L 2.16 02/01/36 USD 67.44 NIPPON PROLOGIS REIT I 1.00 04/15/50 JPY 71.98 OSAKA GAS CO LTD 0.70 09/05/69 JPY 60.73 OSAKA GAS CO LTD 0.55 09/05/58 JPY 67.33 OSAKA GAS CO LTD 0.40 09/03/49 JPY 72.98 OSAKA GAS CO LTD 0.82 06/06/59 JPY 73.94 RAKUTEN GROUP INC 0.90 06/23/34 JPY 64.61 RAKUTEN GROUP INC 1.50 12/02/36 JPY 65.18 RAKUTEN GROUP INC 1.30 12/02/33 JPY 70.19 RAKUTEN GROUP INC 1.05 12/02/31 JPY 72.47 SOFTBANK GROUP CORP 3.88 07/06/32 EUR 73.52 SUMITOMO MITSUI FINANC 2.30 01/12/41 USD 65.60 SUMITOMO MITSUI FINANC 2.93 09/17/41 USD 70.43 SUMITOMO MITSUI FINANC 3.05 01/14/42 USD 72.84 TAKEDA PHARMACEUTICAL 3.38 07/09/60 USD 69.33 TAKEDA PHARMACEUTICAL 3.18 07/09/50 USD 70.71 TAKEDA PHARMACEUTICAL 2.00 07/09/40 EUR 72.14 TKJP CORP 1.02 12/15/17 JPY 0.50 TKJP CORP 0.85 03/06/19 JPY 2.02 TKJP CORP 0.58 03/26/21 JPY 2.02 TOHO GAS CO LTD 0.86 04/18/59 JPY 73.27 TOKYO GAS CO LTD 0.53 09/12/59 JPY 66.04 TOKYO GAS CO LTD 0.99 05/28/70 JPY 69.06 TOKYO GAS CO LTD 1.09 09/10/70 JPY 71.90 TOKYO GAS CO LTD 0.69 12/25/57 JPY 72.02 TOKYO GAS CO LTD 0.83 05/28/60 JPY 73.81 TOKYO METRO CO LTD 0.94 01/31/70 JPY 67.89 TOKYO METRO CO LTD 1.07 09/18/70 JPY 71.63 TOKYO METRO CO LTD 1.09 06/12/70 JPY 72.30 TOKYO METRO CO LTD 0.77 06/27/59 JPY 73.11 TOKYO METRO CO LTD 1.13 01/22/71 JPY 73.22 UNIZO HOLDINGS CO LTD 1.20 05/28/27 JPY 20.37 UNIZO HOLDINGS CO LTD 1.50 11/26/27 JPY 20.99 UNIZO HOLDINGS CO LTD 0.99 11/27/26 JPY 23.67 UNIZO HOLDINGS CO LTD 1.10 11/28/24 JPY 26.90 UNIZO HOLDINGS CO LTD 0.89 05/29/24 JPY 30.42 UNIZO HOLDINGS CO LTD 0.85 05/26/23 JPY 35.03 UNIZO HOLDINGS CO LTD 0.80 11/29/23 JPY 37.09 URBAN RENAISSANCE AGEN 0.43 03/19/59 JPY 67.65 URBAN RENAISSANCE AGEN 0.68 03/19/59 JPY 74.35 URBAN RENAISSANCE AGEN 0.69 03/19/59 JPY 74.63 URBAN RENAISSANCE AGEN 0.32 06/18/49 JPY 74.97 WEST JAPAN RAILWAY CO 1.03 05/21/70 JPY 70.20 WEST JAPAN RAILWAY CO 1.10 08/27/70 JPY 72.28 WEST JAPAN RAILWAY CO 1.13 04/22/71 JPY 72.91 WEST JAPAN RAILWAY CO 0.40 08/27/49 JPY 73.49 WEST JAPAN RAILWAY CO 0.86 05/21/60 JPY 74.63 MALAYSIA -------- AXIATA SPV5 LABUAN LTD 3.06 08/19/50 USD 72.10 BERJAYA CORP BHD 2.00 05/29/26 MYR 0.26 CAPITAL A BHD 8.00 12/29/28 MYR 0.77 EASTERN & ORIENTAL BHD 3.80 03/15/28 MYR 0.36 HUME CEMENT INDUSTRIES 5.00 05/29/24 MYR 1.36 MALAYAN FLOUR MILLS BH 5.00 01/24/24 MYR 1.50 MEX I CAPITAL BHD 0.10 07/21/42 MYR 31.63 PENGURUSAN AIR SPV BHD 1.00 11/11/36 MYR 63.04 PENGURUSAN AIR SPV BHD 1.00 02/05/36 MYR 65.22 PENGURUSAN AIR SPV BHD 1.00 11/05/35 MYR 65.47 PENGURUSAN AIR SPV BHD 1.00 09/28/35 MYR 65.76 PETRONAS CAPITAL LTD 3.40 04/28/61 USD 72.77 PETRONAS CAPITAL LTD 3.40 04/28/61 USD 72.83 SCANWOLF CORP BHD 3.00 08/04/26 MYR 0.27 SD INTERNATIONAL SUKUK 7.00 03/12/25 USD 3.23 SD INTERNATIONAL SUKUK 6.30 05/09/22 USD 5.25 TRIPLC VENTURES SDN BH 5.59 10/10/23 MYR 1.00 YB VENTURES BHD 0.10 09/05/26 MYR 0.04 NEW ZEALAND ----------- AUCKLAND COUNCIL 2.95 09/28/50 NZD 58.87 NEW ZEALAND GOVERNMENT 1.75 05/15/41 NZD 67.89 NEW ZEALAND LOCAL GOVE 2.00 04/15/37 NZD 68.07 HOUSING NEW ZEALAND LT 1.53 09/10/35 NZD 68.86 PHILIPPINES ----------- BAYAN TELECOMMUNICATIO 15.00 07/15/06 USD 17.25 GLOBE TELECOM INC 3.00 07/23/35 USD 73.63 PHILIPPINE GOVERNMENT 1.75 04/28/41 EUR 64.26 PHILIPPINE GOVERNMENT 2.65 12/10/45 USD 70.02 PHILIPPINE GOVERNMENT 2.95 05/05/45 USD 73.58 PHILIPPINE GOVERNMENT 1.20 04/28/33 EUR 74.60 PLDT INC 3.45 06/23/50 USD 67.73 SINGAPORE --------- APL REALTY HOLDINGS PT 5.95 06/02/24 USD 51.66 ASL MARINE HOLDINGS LT 3.00 03/28/25 SGD 41.50 ASL MARINE HOLDINGS LT 3.00 10/01/26 SGD 41.50 BAKRIE TELECOM PTE LTD 11.50 05/07/15 USD 0.70 BAKRIE TELECOM PTE LTD 11.50 05/07/15 USD 0.70 BLD INVESTMENTS PTE LT 8.63 03/23/15 USD 6.75 DBS BANK LTD 1.15 01/22/50 EUR 53.04 DBS BANK LTD 1.22 02/18/50 EUR 54.23 DBS BANK LTD 1.41 01/23/50 EUR 56.81 DBS BANK LTD 1.42 06/28/49 EUR 57.76 DBS BANK LTD 1.55 06/07/49 EUR 59.92 DBS BANK LTD 1.83 04/12/49 EUR 63.79 DBS BANK LTD 2.95 10/28/51 AUD 69.93 ENERCOAL RESOURCES PTE 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 2.24 GOLDEN LEGACY PTE LTD 6.88 03/27/24 USD 2.73 INDO INFRASTRUCTURE GR 2.00 07/30/10 USD 1.00 ITNL OFFSHORE PTE LTD 7.50 01/18/21 CNY 16.90 JGC VENTURES PTE LTD 3.00 06/30/25 USD 34.28 LMIRT CAPITAL PTE LTD 7.50 02/09/26 USD 59.61 LMIRT CAPITAL PTE LTD 7.25 06/19/24 USD 65.35 MICLYN EXPRESS OFFSHOR 8.75 11/25/18 USD 0.78 MODERNLAND OVERSEAS PT 3.00 04/30/27 USD 42.00 MODERNLAND OVERSEAS PT 3.00 04/30/27 USD 42.04 NATIONAL ENVIRONMENT A 2.50 09/15/51 SGD 73.86 NOMURA INTERNATIONAL F 3.17 10/30/44 AUD 53.61 NOMURA INTERNATIONAL F 1.38 07/31/44 EUR 57.42 NOMURA INTERNATIONAL F 3.90 06/18/50 USD 58.97 NOMURA INTERNATIONAL F 19.50 08/28/28 TRY 60.33 NOMURA INTERNATIONAL F 2.31 01/06/36 AUD 61.66 NOMURA INTERNATIONAL F 2.31 12/03/35 AUD 61.70 NOMURA INTERNATIONAL F 7.65 10/04/37 AUD 62.38 NOMURA INTERNATIONAL F 3.65 06/18/39 AUD 64.91 NOMURA INTERNATIONAL F 5.65 11/28/36 USD 68.51 NOMURA INTERNATIONAL F 6.02 07/20/37 USD 70.40 NOMURA INTERNATIONAL F 3.74 04/20/40 USD 70.85 NOMURA INTERNATIONAL F 2.60 06/14/44 KRW 71.24 NOMURA INTERNATIONAL F 6.25 04/21/37 USD 72.31 NOMURA INTERNATIONAL F 6.00 02/16/32 USD 74.11 ORO NEGRO DRILLING PTE 7.50 01/24/24 USD 0.30 RICKMERS MARITIME 8.45 05/15/17 SGD 5.00 SWIBER CAPITAL PTE LTD 6.25 10/30/17 SGD 4.20 SWIBER CAPITAL PTE LTD 6.50 08/02/18 SGD 4.20 SWIBER HOLDINGS LTD 7.13 04/18/17 SGD 6.13 SWIBER HOLDINGS LTD 7.75 09/18/17 CNY 6.13 SWIBER HOLDINGS LTD 5.55 10/10/16 SGD 12.25 TEMASEK FINANCIAL I LT 1.25 11/20/49 EUR 62.31 TEMASEK FINANCIAL I LT 2.50 10/06/70 USD 62.44 TEMASEK FINANCIAL I LT 2.50 10/06/70 USD 62.48 TEMASEK FINANCIAL I LT 2.25 04/06/51 USD 65.92 TEMASEK FINANCIAL I LT 2.25 04/06/51 USD 68.35 TEMASEK FINANCIAL I LT 2.75 08/02/61 USD 69.60 TEMASEK FINANCIAL I LT 2.75 08/02/61 USD 69.77 TEMASEK FINANCIAL I LT 2.80 08/17/71 SGD 73.78 THETA CAPITAL PTE LTD 6.75 10/31/26 USD 70.99 SOUTH KOREA ----------- BUSAN PORT AUTHORITY 1.65 08/21/40 KRW 74.42 CITIBANK KOREA INC 2.33 08/01/36 KRW 69.99 CJ CGV CO LTD 0.50 07/21/52 KRW 18.83 CJ CGV CO LTD 1.00 06/08/51 KRW 21.32 EXPORT-IMPORT BANK OF 2.51 12/06/49 AUD 54.82 EXPORT-IMPORT BANK OF 2.70 12/22/36 AUD 70.89 EXPORT-IMPORT BANK OF 2.65 04/07/36 AUD 72.91 EXPORT-IMPORT BANK OF 2.50 06/29/41 USD 73.76 HEUNGKUK FIRE & MARINE 5.70 12/29/46 KRW 30.16 KOREA DEVELOPMENT BANK 2.50 09/28/41 AUD 64.86 KOREA DEVELOPMENT BANK 2.55 09/28/41 AUD 65.37 KOREA DEVELOPMENT BANK 1.85 09/24/49 KRW 66.16 KOREA DEVELOPMENT BANK 2.00 07/31/49 KRW 66.78 KOREA DEVELOPMENT BANK 2.00 08/01/49 KRW 66.84 KOREA DEVELOPMENT BANK 2.00 08/01/49 KRW 66.84 KOREA DEVELOPMENT BANK 2.78 10/18/41 AUD 68.14 KOREA DEVELOPMENT BANK 1.91 09/18/50 KRW 68.61 KOREA DEVELOPMENT BANK 1.86 10/19/50 KRW 69.43 KOREA DEVELOPMENT BANK 2.14 06/21/49 KRW 70.00 KOREA DEVELOPMENT BANK 2.37 09/29/46 KRW 70.37 KOREA DEVELOPMENT BANK 2.30 08/30/51 KRW 72.14 KOREA DEVELOPMENT BANK 2.30 08/30/51 KRW 72.14 KOREA DEVELOPMENT BANK 3.19 11/26/41 AUD 72.27 KOREA DEVELOPMENT BANK 3.24 11/30/41 AUD 72.85 KOREA DEVELOPMENT BANK 2.30 10/11/46 KRW 73.22 KOREA DEVELOPMENT BANK 2.12 06/21/49 KRW 74.16 KOREA EAST-WEST POWER 1.42 10/07/49 KRW 49.48 KOREA EAST-WEST POWER 1.70 07/16/50 KRW 52.92 KOREA EAST-WEST POWER 2.16 03/07/49 KRW 61.27 KOREA EAST-WEST POWER 1.47 10/07/39 KRW 62.61 KOREA EAST-WEST POWER 2.23 11/05/48 KRW 62.72 KOREA EAST-WEST POWER 1.70 07/16/40 KRW 64.00 KOREA EAST-WEST POWER 1.78 11/24/40 KRW 64.70 KOREA EAST-WEST POWER 2.52 11/22/51 KRW 64.89 KOREA EAST-WEST POWER 2.18 03/07/39 KRW 71.66 KOREA EAST-WEST POWER 2.56 11/22/41 KRW 73.11 KOREA EAST-WEST POWER 2.30 11/05/38 KRW 73.72 KOREA EAST-WEST POWER 2.62 11/03/41 KRW 74.13 KOREA ELECTRIC POWER C 1.71 10/24/49 KRW 65.48 KOREA EXPRESSWAY CORP 1.32 08/22/49 KRW 60.67 KOREA EXPRESSWAY CORP 1.47 09/25/49 KRW 62.94 KOREA EXPRESSWAY CORP 1.52 03/12/50 KRW 63.58 KOREA EXPRESSWAY CORP 1.71 10/29/50 KRW 66.52 KOREA EXPRESSWAY CORP 1.71 04/09/50 KRW 66.53 KOREA EXPRESSWAY CORP 1.57 08/26/46 KRW 67.68 KOREA EXPRESSWAY CORP 1.81 11/12/50 KRW 68.24 KOREA EXPRESSWAY CORP 1.86 12/23/50 KRW 68.82 KOREA EXPRESSWAY CORP 1.79 05/30/49 KRW 69.20 KOREA EXPRESSWAY CORP 2.04 08/13/51 KRW 71.54 KOREA EXPRESSWAY CORP 1.96 04/11/49 KRW 71.63 KOREA EXPRESSWAY CORP 2.10 09/09/51 KRW 72.40 KOREA EXPRESSWAY CORP 1.85 10/24/46 KRW 72.59 KOREA EXPRESSWAY CORP 1.98 04/25/49 KRW 72.73 KOREA EXPRESSWAY CORP 1.90 11/10/46 KRW 73.21 KOREA EXPRESSWAY CORP 2.14 07/09/51 KRW 73.64 KOREA EXPRESSWAY CORP 2.18 03/11/51 KRW 74.26 KOREA EXPRESSWAY CORP 2.00 12/07/48 KRW 74.30 KOREA EXPRESSWAY CORP 2.13 03/19/49 KRW 74.56 KOREA EXPRESSWAY CORP 1.58 05/21/40 KRW 74.64 KOREA GAS CORP 1.80 08/22/44 KRW 67.75 KOREA HYDRO & NUCLEAR 1.59 05/25/50 KRW 52.79 KOREA HYDRO & NUCLEAR 1.58 10/16/49 KRW 53.01 KOREA HYDRO & NUCLEAR 1.66 06/15/50 KRW 53.76 KOREA HYDRO & NUCLEAR 1.70 11/27/49 KRW 54.98 KOREA HYDRO & NUCLEAR 1.78 11/23/50 KRW 55.49 KOREA HYDRO & NUCLEAR 1.80 04/02/50 KRW 56.01 KOREA HYDRO & NUCLEAR 1.83 04/28/50 KRW 56.76 KOREA HYDRO & NUCLEAR 1.82 06/05/49 KRW 57.13 KOREA HYDRO & NUCLEAR 2.31 06/29/51 KRW 63.02 KOREA HYDRO & NUCLEAR 1.57 05/25/40 KRW 64.30 KOREA HYDRO & NUCLEAR 2.25 10/26/48 KRW 64.41 KOREA HYDRO & NUCLEAR 1.63 06/15/40 KRW 64.81 KOREA HYDRO & NUCLEAR 2.45 10/14/51 KRW 64.92 KOREA HYDRO & NUCLEAR 1.59 10/16/39 KRW 65.27 KOREA HYDRO & NUCLEAR 1.80 11/23/40 KRW 66.57 KOREA HYDRO & NUCLEAR 1.80 04/02/40 KRW 67.08 KOREA HYDRO & NUCLEAR 1.76 11/27/39 KRW 67.24 KOREA HYDRO & NUCLEAR 2.41 09/18/47 KRW 67.33 KOREA HYDRO & NUCLEAR 1.81 04/28/40 KRW 67.44 KOREA HYDRO & NUCLEAR 2.59 11/03/51 KRW 67.56 KOREA HYDRO & NUCLEAR 2.47 10/17/47 KRW 68.02 KOREA HYDRO & NUCLEAR 1.81 06/05/39 KRW 68.46 KOREA HYDRO & NUCLEAR 2.31 06/29/41 KRW 71.69 KOREA HYDRO & NUCLEAR 2.81 06/05/48 KRW 72.76 KOREA HYDRO & NUCLEAR 2.97 02/17/52 KRW 73.37 KOREA HYDRO & NUCLEAR 2.49 10/14/41 KRW 73.50 KOREA HYDRO & NUCLEAR 3.02 03/11/52 KRW 73.97 KOREA HYDRO & NUCLEAR 2.88 05/11/48 KRW 74.05 KOREA LAND & HOUSING C 1.28 08/23/49 KRW 60.06 KOREA LAND & HOUSING C 1.54 03/09/50 KRW 64.05 KOREA LAND & HOUSING C 1.57 05/27/50 KRW 64.67 KOREA LAND & HOUSING C 1.65 08/27/50 KRW 65.59 KOREA LAND & HOUSING C 1.66 09/18/50 KRW 65.64 KOREA LAND & HOUSING C 1.67 07/07/50 KRW 65.78 KOREA LAND & HOUSING C 2.17 10/30/68 KRW 67.41 KOREA LAND & HOUSING C 1.70 06/13/49 KRW 67.76 KOREA LAND & HOUSING C 1.74 01/22/50 KRW 67.89 KOREA LAND & HOUSING C 1.78 04/08/50 KRW 67.92 KOREA LAND & HOUSING C 1.78 04/29/50 KRW 68.64 KOREA LAND & HOUSING C 1.62 07/27/46 KRW 68.72 KOREA LAND & HOUSING C 1.61 07/19/46 KRW 68.78 KOREA LAND & HOUSING C 1.87 05/24/49 KRW 70.20 KOREA LAND & HOUSING C 1.97 01/29/51 KRW 70.96 KOREA LAND & HOUSING C 1.83 10/19/46 KRW 72.33 KOREA LAND & HOUSING C 2.15 09/15/51 KRW 73.43 KOREA LAND & HOUSING C 2.15 03/05/51 KRW 73.81 KOREA LAND & HOUSING C 1.61 06/10/40 KRW 74.52 KOREA MIDLAND POWER CO 1.53 02/25/50 KRW 50.88 KOREA MIDLAND POWER CO 1.69 06/18/50 KRW 52.99 KOREA MIDLAND POWER CO 1.72 06/18/49 KRW 54.27 KOREA MIDLAND POWER CO 1.86 11/13/49 KRW 56.19 KOREA MIDLAND POWER CO 1.95 05/21/49 KRW 57.93 KOREA MIDLAND POWER CO 1.99 03/26/49 KRW 58.57 KOREA MIDLAND POWER CO 2.17 02/08/49 KRW 61.53 KOREA MIDLAND POWER CO 2.17 10/31/48 KRW 61.90 KOREA MIDLAND POWER CO 1.53 02/25/40 KRW 62.84 KOREA MIDLAND POWER CO 2.26 09/10/48 KRW 63.06 KOREA MIDLAND POWER CO 1.59 03/18/40 KRW 63.38 KOREA MIDLAND POWER CO 1.66 08/25/40 KRW 63.63 KOREA MIDLAND POWER CO 1.64 07/21/40 KRW 63.63 KOREA MIDLAND POWER CO 1.66 06/18/40 KRW 63.77 KOREA MIDLAND POWER CO 1.75 06/18/39 KRW 66.33 KOREA MIDLAND POWER CO 1.92 10/30/39 KRW 68.00 KOREA MIDLAND POWER CO 1.96 05/21/39 KRW 68.97 KOREA MIDLAND POWER CO 2.87 01/24/52 KRW 70.51 KOREA MIDLAND POWER CO 2.19 02/08/39 KRW 72.10 KOREA MIDLAND POWER CO 3.01 02/17/52 KRW 72.53 KOREA MIDLAND POWER CO 2.24 10/31/38 KRW 73.09 KOREA MIDLAND POWER CO 2.30 09/10/38 KRW 73.65 KOREA MINE REHABILITAT 3.01 02/26/40 AUD 64.59 KOREA MINE REHABILITAT 1.93 07/15/50 KRW 67.84 KOREA MINE REHABILITAT 2.07 01/06/51 KRW 70.17 KOREA MINE REHABILITAT 3.20 07/15/40 USD 72.17 KOREA OCEAN BUSINESS C 1.50 09/27/49 KRW 63.12 KOREA OCEAN BUSINESS C 1.59 05/22/50 KRW 64.29 KOREA OCEAN BUSINESS C 1.63 12/11/49 KRW 65.36 KOREA OCEAN BUSINESS C 1.67 06/16/50 KRW 65.51 KOREA OCEAN BUSINESS C 1.69 10/27/50 KRW 65.73 KOREA OCEAN BUSINESS C 1.70 04/16/50 KRW 65.98 KOREA OCEAN BUSINESS C 2.01 03/28/49 KRW 72.16 KOREA OVERSEAS INFRAST 1.76 10/28/50 KRW 66.64 KOREA RAIL NETWORK AUT 1.46 09/27/49 KRW 62.58 KOREA RAIL NETWORK AUT 1.51 10/11/49 KRW 63.32 KOREA RAIL NETWORK AUT 1.59 05/21/50 KRW 64.71 KOREA RAIL NETWORK AUT 1.64 02/19/50 KRW 65.46 KOREA RAIL NETWORK AUT 1.65 02/03/50 KRW 65.82 KOREA RAIL NETWORK AUT 1.76 04/23/50 KRW 67.89 KOREA RAIL NETWORK AUT 1.75 11/20/49 KRW 67.96 KOREA RAIL NETWORK AUT 1.85 11/05/49 KRW 69.76 KOREA RAIL NETWORK AUT 1.72 06/28/46 KRW 70.20 KOREA RAIL NETWORK AUT 2.03 08/06/51 KRW 71.12 KOREA RAIL NETWORK AUT 1.93 05/16/49 KRW 71.42 KOREA RAIL NETWORK AUT 2.10 03/25/51 KRW 72.35 KOREA RAIL NETWORK AUT 1.90 06/13/46 KRW 73.15 KOREA RAIL NETWORK AUT 2.15 07/13/51 KRW 73.51 KOREA RAILROAD CORP 1.31 08/29/49 KRW 60.05 KOREA RAILROAD CORP 1.44 07/26/49 KRW 62.40 KOREA RAILROAD CORP 1.47 09/19/49 KRW 62.58 KOREA RAILROAD CORP 1.56 03/18/50 KRW 63.82 KOREA RAILROAD CORP 1.61 08/12/50 KRW 64.27 KOREA RAILROAD CORP 1.59 07/18/49 KRW 65.13 KOREA RAILROAD CORP 1.67 04/14/50 KRW 65.51 KOREA RAILROAD CORP 2.04 07/22/51 KRW 71.30 KOREA RAILROAD CORP 2.00 04/05/49 KRW 71.79 KOREA RAILROAD CORP 1.88 10/27/46 KRW 72.58 KOREA RAILROAD CORP 2.01 04/24/49 KRW 72.76 KOREA RAILROAD CORP 1.41 04/11/39 EUR 72.83 KOREA RAILROAD CORP 1.94 11/03/46 KRW 73.64 KOREA RAILROAD CORP 2.13 03/13/49 KRW 74.12 KOREA SMES AND STARTUP 1.87 03/24/50 KRW 69.37 KOREA SMES AND STARTUP 1.31 08/09/39 KRW 71.72 KOREA SMES AND STARTUP 1.64 10/16/40 KRW 74.25 KOREA SOUTH-EAST POWER 1.65 06/11/50 KRW 52.34 KOREA SOUTH-EAST POWER 1.69 06/26/49 KRW 53.80 KOREA SOUTH-EAST POWER 1.96 01/26/51 KRW 56.92 KOREA SOUTH-EAST POWER 2.19 11/09/48 KRW 62.12 KOREA SOUTH-EAST POWER 1.63 06/11/40 KRW 63.48 KOREA SOUTH-EAST POWER 2.47 11/09/51 KRW 64.22 KOREA SOUTH-EAST POWER 1.68 06/26/39 KRW 65.50 KOREA SOUTH-EAST POWER 1.97 01/26/41 KRW 66.93 KOREA SOUTH-EAST POWER 2.60 07/26/48 KRW 68.57 KOREA SOUTH-EAST POWER 2.77 04/12/48 KRW 70.67 KOREA SOUTH-EAST POWER 2.32 11/09/38 KRW 73.85 KOREA SOUTH-EAST POWER 3.13 03/28/52 KRW 73.96 KOREA SOUTHERN POWER C 1.29 08/13/49 KRW 47.80 KOREA SOUTHERN POWER C 1.63 12/19/49 KRW 52.49 KOREA SOUTHERN POWER C 1.68 06/25/50 KRW 52.74 KOREA SOUTHERN POWER C 1.80 11/20/49 KRW 55.30 KOREA SOUTHERN POWER C 1.33 08/13/39 KRW 61.48 KOREA SOUTHERN POWER C 1.66 06/18/40 KRW 63.77 KOREA SOUTHERN POWER C 1.66 06/25/40 KRW 63.77 KOREA SOUTHERN POWER C 1.67 12/19/39 KRW 64.62 KOREA SOUTHERN POWER C 2.43 09/28/48 KRW 65.50 KOREA SOUTHERN POWER C 2.59 11/04/51 KRW 66.16 KOREA SOUTHERN POWER C 1.84 11/20/39 KRW 66.94 KOREA SOUTHERN POWER C 2.38 07/28/41 KRW 71.93 KOREA SOUTHERN POWER C 2.66 11/04/41 KRW 74.50 KOREA STUDENT AID FOUN 1.41 09/06/39 KRW 73.10 KOREA TREASURY BOND 1.50 09/10/66 KRW 59.56 KOREA TREASURY BOND 1.63 09/10/70 KRW 60.98 KOREA TREASURY BOND 1.50 03/10/50 KRW 68.79 KOREA TREASURY BOND 2.00 09/10/68 KRW 70.61 KOREA TREASURY BOND 1.13 09/10/39 KRW 73.29 KOREA WATER RESOURCES 1.54 03/13/50 KRW 63.75 KOREA WATER RESOURCES 1.63 07/16/49 KRW 66.14 KOREA WATER RESOURCES 1.63 10/21/49 KRW 66.23 KOREA WATER RESOURCES 1.68 07/01/49 KRW 66.93 KOREA WATER RESOURCES 1.71 01/10/50 KRW 67.28 KOREA WATER RESOURCES 1.82 06/22/46 KRW 71.94 KOREA WATER RESOURCES 1.83 06/24/46 KRW 72.15 KOREA WATER RESOURCES 1.97 12/20/48 KRW 72.38 KOREA WESTERN POWER CO 1.62 05/28/50 KRW 51.95 KOREA WESTERN POWER CO 1.68 08/27/50 KRW 52.75 KOREA WESTERN POWER CO 1.76 11/05/50 KRW 53.86 KOREA WESTERN POWER CO 1.88 12/22/50 KRW 55.42 KOREA WESTERN POWER CO 2.20 11/01/48 KRW 62.32 KOREA WESTERN POWER CO 2.25 09/14/48 KRW 62.87 KOREA WESTERN POWER CO 1.59 05/28/40 KRW 63.12 KOREA WESTERN POWER CO 1.68 08/27/40 KRW 63.85 KOREA WESTERN POWER CO 1.69 06/23/40 KRW 64.14 KOREA WESTERN POWER CO 2.46 09/28/47 KRW 66.70 KOREA WESTERN POWER CO 2.81 04/20/48 KRW 71.91 KOREA WESTERN POWER CO 2.50 11/10/41 KRW 72.53 KOREA WESTERN POWER CO 2.25 11/01/38 KRW 73.15 KOREA WESTERN POWER CO 2.27 09/14/38 KRW 73.31 KT CORP 1.71 06/15/40 KRW 65.86 KT CORP 1.67 10/11/39 KRW 66.34 KT CORP 1.98 01/25/41 KRW 68.47 KT CORP 2.21 01/14/39 KRW 73.51 LG ELECTRONICS INC 2.66 07/06/40 KRW 72.82 LG ELECTRONICS INC 2.83 02/09/41 KRW 74.41 SAMPYO CEMENT CO LTD 8.30 04/20/14 KRW 70.00 SAMPYO CEMENT CO LTD 7.50 07/20/14 KRW 70.00 SAMPYO CEMENT CO LTD 8.30 09/10/14 KRW 70.00 SAMPYO CEMENT CO LTD 8.10 04/12/15 KRW 70.00 SAMPYO CEMENT CO LTD 8.10 06/26/15 KRW 70.00 SANUPKIBANSINBO BUSAN- 1.89 09/17/41 KRW 66.56 SANUPKIBANSINBO BUSAN- 1.87 10/01/40 KRW 67.65 SANUPKIBANSINBO BUSAN- 1.85 10/01/38 KRW 70.08 SANUPKIBANSINBO BUSAN- 1.83 10/01/36 KRW 72.79 SEOUL METROPOLITAN CIT 1.69 11/22/49 KRW 70.97 SEOUL METROPOLITAN CIT 1.85 10/30/49 KRW 73.48 SK HYNIX INC 2.38 01/19/31 USD 73.86 SK HYNIX INC 2.38 01/19/31 USD 74.17 SK TELECOM CO LTD 1.56 07/29/49 KRW 53.08 SK TELECOM CO LTD 1.52 07/29/39 KRW 64.99 SK TELECOM CO LTD 1.76 10/19/40 KRW 65.98 SK TELECOM CO LTD 1.89 01/15/41 KRW 66.82 SK TELECOM CO LTD 1.87 01/14/40 KRW 67.90 SK TELECOM CO LTD 1.81 10/22/39 KRW 68.00 SK TELECOM CO LTD 2.23 03/06/39 KRW 73.54 SRI LANKA --------- SRI LANKA GOVERNMENT I 6.20 05/11/27 USD 33.72 SRI LANKA GOVERNMENT I 7.85 03/14/29 USD 33.77 SRI LANKA GOVERNMENT I 6.75 04/18/28 USD 33.80 SRI LANKA GOVERNMENT I 7.55 03/28/30 USD 33.82 SRI LANKA GOVERNMENT I 6.35 06/28/24 USD 33.84 SRI LANKA GOVERNMENT I 6.85 03/14/24 USD 33.85 SRI LANKA GOVERNMENT I 6.20 05/11/27 USD 33.87 SRI LANKA GOVERNMENT I 7.85 03/14/29 USD 33.95 SRI LANKA GOVERNMENT I 7.55 03/28/30 USD 33.95 SRI LANKA GOVERNMENT I 6.75 04/18/28 USD 33.99 SRI LANKA GOVERNMENT I 6.35 06/28/24 USD 34.06 SRI LANKA GOVERNMENT I 6.85 03/14/24 USD 34.13 SRI LANKA GOVERNMENT I 5.75 04/18/23 USD 34.28 SRI LANKA GOVERNMENT I 5.75 04/18/23 USD 34.29 SRI LANKA GOVERNMENT I 6.85 11/03/25 USD 35.10 SRI LANKA GOVERNMENT I 6.83 07/18/26 USD 35.25 SRI LANKA GOVERNMENT I 6.85 11/03/25 USD 35.38 SRI LANKA GOVERNMENT I 6.83 07/18/26 USD 35.39 SRI LANKA GOVERNMENT I 6.13 06/03/25 USD 35.49 SRI LANKA GOVERNMENT I 6.13 06/03/25 USD 35.70 SRI LANKA GOVERNMENT I 5.88 07/25/22 USD 37.72 SRI LANKA GOVERNMENT I 5.88 07/25/22 USD 38.04 SRI LANKA GOVERNMENT B 8.00 01/01/32 LKR 41.96 SRI LANKA GOVERNMENT B 9.00 11/01/33 LKR 42.16 SRI LANKA GOVERNMENT B 9.00 06/01/43 LKR 43.05 SRI LANKA GOVERNMENT B 9.00 06/01/33 LKR 43.98 SRI LANKA GOVERNMENT B 9.00 10/01/32 LKR 44.71 SRI LANKA GOVERNMENT B 10.25 09/15/34 LKR 45.84 SRI LANKA GOVERNMENT B 10.50 08/15/39 LKR 45.98 SRI LANKA GOVERNMENT B 11.50 03/15/35 LKR 51.09 SRI LANKA GOVERNMENT B 11.20 01/15/33 LKR 52.97 SRI LANKA GOVERNMENT B 11.25 03/15/31 LKR 53.98 SRI LANKA GOVERNMENT B 7.80 08/15/27 LKR 54.24 SRI LANKA GOVERNMENT B 9.00 07/01/28 LKR 54.39 SRILANKAN AIRLINES LTD 7.00 06/25/24 USD 54.77 SRI LANKA GOVERNMENT B 11.00 05/15/30 LKR 55.43 SRI LANKA GOVERNMENT B 9.00 05/01/28 LKR 55.44 SRI LANKA GOVERNMENT B 12.00 12/01/31 LKR 55.62 SRI LANKA GOVERNMENT B 12.00 01/01/41 LKR 57.39 SRI LANKA GOVERNMENT B 13.25 01/01/34 LKR 57.86 SRI LANKA GOVERNMENT B 12.50 03/01/45 LKR 58.79 SRI LANKA GOVERNMENT B 10.30 10/15/27 LKR 59.84 SRI LANKA GOVERNMENT B 13.25 07/01/33 LKR 59.96 SRI LANKA GOVERNMENT B 5.35 03/01/26 LKR 60.32 SRI LANKA GOVERNMENT B 10.75 03/15/28 LKR 61.20 SRI LANKA GOVERNMENT B 11.50 09/01/28 LKR 61.26 SRI LANKA GOVERNMENT B 11.25 12/15/27 LKR 61.30 SRI LANKA GOVERNMENT B 13.00 05/01/29 LKR 63.21 SRI LANKA GOVERNMENT B 13.50 06/01/44 LKR 63.52 SRI LANKA GOVERNMENT B 13.50 01/01/44 LKR 63.60 SRI LANKA GOVERNMENT B 13.00 01/01/29 LKR 63.88 SRI LANKA GOVERNMENT B 6.75 01/15/26 LKR 64.10 SRI LANKA GOVERNMENT B 11.75 06/15/27 LKR 64.91 SRI LANKA GOVERNMENT B 11.40 01/15/27 LKR 66.16 SRI LANKA GOVERNMENT B 9.00 02/01/26 LKR 67.92 SRI LANKA GOVERNMENT B 11.50 08/01/26 LKR 69.08 SRI LANKA GOVERNMENT B 11.00 06/01/26 LKR 69.68 SRI LANKA GOVERNMENT B 10.35 10/15/25 LKR 71.76 SRI LANKA GOVERNMENT B 9.00 05/01/25 LKR 73.65 SRI LANKA GOVERNMENT B 11.00 08/01/25 LKR 73.89 SRI LANKA GOVERNMENT B 6.00 12/01/24 LKR 74.24 THAILAND -------- G STEEL PCL 3.00 10/04/15 USD 0.80 GC TREASURY CENTER CO 4.30 03/18/51 USD 73.95 GC TREASURY CENTER CO 4.30 03/18/51 USD 73.98 MDX PCL 4.75 09/17/03 USD 22.88 PTT TREASURY CENTER CO 3.70 07/16/70 USD 67.17 PTT TREASURY CENTER CO 3.70 07/16/70 USD 67.39 PTTEP TREASURY CENTER 3.90 12/06/59 USD 70.94 PTTEP TREASURY CENTER 3.90 12/06/59 USD 70.96 THAIOIL TREASURY CENTE 3.50 10/17/49 USD 62.91 THAIOIL TREASURY CENTE 3.50 10/17/49 USD 62.93 THAIOIL TREASURY CENTE 3.75 06/18/50 USD 65.68 THAIOIL TREASURY CENTE 3.75 06/18/50 USD 66.03 TAIWAN ------ TAIWAN SEMICONDUCTOR M 2.70 09/22/60 USD 63.25 TAIWAN GOVERNMENT BOND 0.38 11/27/50 TWD 73.01 TAIWAN SEMICONDUCTOR M 3.10 09/23/51 USD 73.69 VIETNAM ------- BIM LAND JSC 7.38 05/07/26 USD 48.07 NO VA LAND INVESTMENT 5.25 07/16/26 USD 24.58 VINPEARL JSC 3.25 09/21/26 USD 74.01 ********* 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, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. TCR-AP subscription rate is US$775 for 6 months delivered via e- mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are US$25 each. For subscription information, contact Peter Chapman at 215-945-7000. *** End of Transmission ***