---

       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, November 19, 2024, Vol. 27, No. 232

                           Headlines



A U S T R A L I A

BLUEPRINT PROJECTS: First Creditors' Meeting Set for Nov. 22
EMECO HOLDINGS: Fitch Affirms 'BB-' LongTerm IDR, Outlook Stable
FIRSTMAC ASSET 1: Fitch Affirms BB+ Rating on Class E Notes
INSURTECH SOLUTIONS: First Creditors' Meeting Set for Nov. 21
MORTGAGE HOUSE 2024-2: S&P Assigns Prelim. B+(sf) Rating on F Notes

OAKFORM FORMWORK: First Creditors' Meeting Set for Nov. 22
PEPPER ASSET 3: Fitch Assigns 'B(EXP)sf' Rating on Class D Notes
PIER 33: First Creditors' Meeting Set for Nov. 21
PROVIDENCE ASSET: First Creditors' Meeting Set for Nov. 22
TANGO CARAVANS: Owes AUD3.2M; Consumer Protection Body Probes Boss



C H I N A

COUNTRY GARDEN: Submits Offshore Debt Restructuring Plan
[*] CHINA: Troubled Solar Sector at 'Turning Point,' Longi Says


I N D I A

A. K. BUILDERS: CARE Keeps C Debt Rating in Not Cooperating
A.M. DISTRIBUTORS: CARE Keeps D Debt Ratings in Not Cooperating
AADHAV GREEN: Ind-Ra Moves BB+ Loan Rating to NonCooperating
AMRITLAL NARESH: CARE Keeps C Debt Rating in Not Cooperating
ANANTHA PVC: CARE Keeps D Debt Ratings in Not Cooperating Category

ARPEE ENERGY: CARE Keeps D Debt Rating in Not Cooperating
BALAJI ENGINEERING: CARE Keeps D Debt Rating in Not Cooperating
BALDEV KRISHAN: CARE Keeps D Debt Rating in Not Cooperating
BBT ELEVATED: CARE Keeps D Debt Rating in Not Cooperating Category
BHUWNESHWAR PATHAK: CARE Keeps C Debt Rating in Not Cooperating

DHURIA RICE: CARE Keeps C Debt Rating in Not Cooperating Category
GO GREEN: CARE Keeps D Debt Rating in Not Cooperating Category
HARIKISHAN TEJMAL: CARE Keeps D Debt Ratings in Not Cooperating
HBS REALTORS: ICRA Keeps D Debt Rating in Not Cooperating
JAIPRAKASH ASSOCIATES: NARCL Ups Offer For Debt to INR12,000 crore

JPM EXPORTS: CARE Keeps D Debt Ratings in Not Cooperating Category
KALYAN VAIJINATHRAO: CARE Keeps D Debt Rating in Not Cooperating
MUKTSAR COTTON: ICRA Keeps B Debt Rating in Not Cooperating
NEW BHARAT: ICRA Keeps D Debt Rating in Not Cooperating Category
NEXTRA TELESERVICES: CARE Keeps D Debt Ratings in Not Cooperating

PARIVARTAN BUILDTECH: CARE Keeps D Debt Ratings in Not Cooperating
PATIL AND COMPANY: CARE Keeps D Debt Ratings in Not Cooperating
RAJENDRA RICE: CARE Keeps C Debt Ratings in Not Cooperating
REGEN INFRASTRUCTURE: ICRA Keeps D Ratings in Not Cooperating
SHLOGAM AGRO: CARE Keeps D Debt Rating in Not Cooperating Category

SUNSHINE LIQUID: CARE Keeps C Rating in Not Cooperating Category
VAIDYA INDUSTRIES: CARE Keeps B- Debt Rating in Not Cooperating


M A L A Y S I A

BARAKAH OFFSHORE: Drafts New PN17 Regularisation Plan
FASHIONVALET SDN: Probe Expected to be Completed in Two Weeks


N E W   Z E A L A N D

CHONTICHA LIMITED: Creditors' Proofs of Debt Due on Dec. 20
FOREST & FARM: Court to Hear Wind-Up Petition on Dec. 3
HAMATA HAULAGE: Creditors' Proofs of Debt Due on Dec. 13
TINAKU LIMITED: Court to Hear Wind-Up Petition on Dec. 9
UNIQUE INTERIORS: Grant Bruce Reynolds Appointed as Liquidator



P H I L I P P I N E S

ABS-CBN: Banks Grant 'Conditional Waiver' on PHP12 Billion Loans
NECTAR NIGHTCLUB: To Shut Down on January 1, 2025


S I N G A P O R E

AVPIV HIROSHIMA: Creditors' Proofs of Debt Due on Dec. 16
IDEAL DESIGN: Court to Hear Wind-Up Petition on Nov. 29
SINGAPORE AMARAVATI: Creditors' Proofs of Debt Due on Dec. 16
SIR MONEY: Court to Hear Wind-Up Petition on Nov. 22
TACHYON ALGOTRADING: Creditors' Proofs of Debt Due on Dec. 14



S O U T H   K O R E A

TERRAFORM LABS: Wu Case Withdrawn from Mediation


X X X X X X X X

[*] BOND PRICING: For the Week Nov. 11, 2024 to Nov. 15, 2024

                           - - - - -


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

BLUEPRINT PROJECTS: First Creditors' Meeting Set for Nov. 22
------------------------------------------------------------
A first meeting of the creditors in the proceedings of Blueprint
Projects Group (ACT) Pty Ltd will be held on Nov. 22, 2024 at 11:00
a.m. via teleconference only.

Richard Albarran and John Vouris of Hall Chadwick were appointed as
administrators of the company on Nov. 12, 2024.



EMECO HOLDINGS: Fitch Affirms 'BB-' LongTerm IDR, Outlook Stable
----------------------------------------------------------------
Fitch Ratings has affirmed Australia-based Emeco Holdings Limited's
Long-Term Issuer Default Rating at 'BB-'. The Outlook is Stable. At
the same time, Fitch has affirmed the rating on the AUD250 million
6.25% senior secured notes due July 2026, issued by Emeco's wholly
owned subsidiary, Emeco Pty Ltd, at 'BB'.

The affirmation reflects Emeco's improved profitability following
the exit from its low-margin underground contract mining business
in the financial year ending June 2024 (FY24). Fitch expects this,
in combination with good revenue visibility and a defensive cost
structure, to support the company's cash flow, even in weak
commodity markets.

EBITDA net leverage declined to Emeco's long-term target of 1.0x in
FY24 and Fitch forecasts it to remain low in FY25 as the company is
assessing its options for capital allocation. Fitch does not expect
leverage to remain below 1.0x in the longer term, but believe the
company will maintain the metric below the negative sensitivity of
1.5x, as reflected in the Stable Outlook.

Key Rating Drivers

Improving Margin: Fitch expects Emeco's Fitch-adjusted EBITDA
margin to widen to 35% in FY25 (FY24: 31%). This reflects the
full-year contribution of the underground segment, which is now
focused solely on higher-margin rental after Emeco exited
lower-margin contract mining in FY24. Emeco transferred certain Pit
N Portal customer contracts, employees and non-mining fleet assets
to Macmahon Holdings Limited in exchange for in-demand surface and
underground mining equipment and preferred rental equipment
provider status.

The transaction improved the underground segment margin to 17% in
FY24 (FY23: -2.6%). Fitch believes the reformation of the
underground mining segment will enhance Emeco's profitability by
moving away from services that are not aligned with its core
competencies.

Defensive Cost Structure: Fitch believes the flexibility built into
Emeco's asset base and cost structure will allow the company to
protect its financial profile during commodity downturns. The
company's in-house rebuild and maintenance functions allow it to
control its maintenance schedule and plan for large capex. It can
reduce maintenance costs and keep capex at an appropriate level
during commodity downturns and periods of weak demand. This allows
it to remain profitable and minimise cash outflow to protect its
balance sheet.

Improved Revenue Visibility: Emeco's revenue visibility has
benefited from the increase in service revenue, as service
contracts are typically longer term and more integrated into a
miner's operation, making revenue less volatile in weaker commodity
markets. This, alongside a strong financial profile, has been a key
driver in Emeco's improved credit profile. However, the segment
remains focused on equipment hire and related services, making the
company more vulnerable than higher-rated peers that provide
integrated or full-service offerings.

Revenue visibility is also enhanced by Emeco's diversification
across its customer base and commodity exposure - in particular,
its exposure to gold at around 26% of revenue - as well as its
commodity-agnostic fleet that it can move between projects, regions
and commodities to respond to changes in demand. This was
demonstrated in late 2020, when Emeco replaced some of its lost
rental earnings by moving trucks to fill demand in Western
Australia, as coal markets on Australia's east coast faced lower
demand after coal producers cut mining activity.

Strong Financial Profile: Fitch expects Fitch-adjusted EBITDA net
leverage to continue to improve in FY25 (FY24: 0.8x, FY23: 1.0x),
supported by strong cash flow from operations and extended
suspension of dividends. Emeco plans to decide on how to use its
built up cash by FYE25. Fitch does not expect leverage to stay low
in medium term, but believe the company will maintain a
conservative balance sheet through the cycle, with net debt/EBITDA
leverage remaining close to its long-term target of below 1x.

Secured Notes Notched Up: The AUD250 million senior notes are rated
one notch above Emeco's IDR, as noteholders benefit from a
first-ranking security over all obligors - which are the issuer and
guarantor - and over the property. The obligors represent at least
90% of Emeco's consolidated total assets. The notes are considered
Category 2 first lien under Fitch's criteria. Fitch has applied a
narrower notching of a one-notch uplift from Emeco's IDR, as there
is other permitted financial debt that has prior-ranking to the
notes.

Derivation Summary

Emeco's business profile benefits from high commodity and customer
diversification, along with a defensive cost structure, with
in-house rebuild and maintenance capabilities. This somewhat
narrows the rating difference with its larger mining-services
peers, which have better revenue visibility from a focus on
long-term contracts and diversified service offerings at various
stages of production.

PT Bukit Makmur Mandiri Utama (BUMA, BB-/Stable) has a stronger
business profile as Indonesia's second-largest coal contractor.
However, it also has high customer concentration risk, with around
80% of its volume coming from three counterparties. It also has
commodity concentration risk in the highly cyclical domestic
coal-contracting industry, which has previously led to volatility
in its earnings and leverage. Emeco also has a better financial
profile and has demonstrated its commitment to maintaining a
conservative balance sheet. Fitch believes this offsets BUMA's
slightly stronger business profile, resulting in both issuers'
ratings being at the same level.

Key Assumptions

Fitch's Key Assumptions within its Rating Case for the Issuer:

- Gross utilisation rate to remain stable to FY27, at around 92%,
due to tight rental-equipment conditions, commodity fungibility of
Emeco's fleet and strong activity levels in the mining sector,
offset by its expectation of a moderation in commodity markets.

- Net capex at around 25% of revenue from FY25-FY28.

- 40% of operating net profit after tax to be returned to
shareholders from FY26.

RATING SENSITIVITIES

Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade:

- An upgrade is unlikely while Emeco maintains its exposure to the
more cyclical equipment rental and related services sub-segment and
its smaller scale than higher-rated peers.

Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade:

- A deterioration in operating performance, including a decline in
the operating utilisation rate and loss of major contracts.

- EBITDA net leverage exceeding 1.5x for a sustained period.

Liquidity and Debt Structure

Adequate Liquidity: Emeco's next significant debt maturity is in
July 2026 for the AUD250 million 6.25% senior secured notes. The
company has a committed undrawn revolving facility of AUD65 million
due in December 2025, with an option for a two-year extension at
its discretion. It also had cash on hand of AUD78 million at FYE24.
Fitch expects Emeco to continue building up cash in FY25 following
the suspension of dividends. The company also has good access to
capital markets for refinancing its approaching maturities.

Issuer Profile

Emeco, founded in 1972, is one of the leading earthmoving equipment
rental companies listed on the Australian Securities Exchange. It
has operations in all key mining regions of Australia and its
customers include mining companies and contractors across gold,
coal, copper, bauxite and iron ore.

MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS

Fitch's latest quarterly Global Corporates Macro and Sector
Forecasts data file which aggregates key data points used in its
credit analysis. Fitch's macroeconomic forecasts, commodity price
assumptions, default rate forecasts, sector key performance
indicators and sector-level forecasts are among the data items
included.

ESG Considerations

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' 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. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.

   Entity/Debt                 Rating           Prior
   -----------                 ------           -----
Emeco Holdings Limited   LT IDR BB- Affirmed    BB-  

Emeco Pty Ltd

   senior secured        LT     BB  Affirmed    BB

FIRSTMAC ASSET 1: Fitch Affirms BB+ Rating on Class E Notes
-----------------------------------------------------------
Fitch Ratings has affirmed five classes and upgraded one class of
notes from Firstmac Asset Funding Trust No. 1 Series Auto No. 2's
pass-through floating-rate notes and revised the Outlook to
Positive for all the notes except the class A notes. The
transaction is backed by a pool of first-ranking Australian
automotive loan receivables originated by Firstmac Limited. The
notes were issued by Firstmac Fiduciary Services Pty Limited as
trustee of Firstmac Asset Funding Trust No. 1 Series Auto No. 2.

The upgrade of the class D notes was driven by the build-up of
credit enhancement (CE) and the transaction's stable asset
performance. The Positive Outlook reflects the notes' sensitivity
to increased recoveries and decreased defaults against expected
increase in CE over the next 12 months.

   Entity/Debt              Rating           Prior
   -----------              ------           -----
Firstmac Asset Funding
Trust No. 1 Series
Auto No. 2

   A1 AU3FN0083036      LT AAAsf  Affirmed   AAAsf
   A2 AU3FN0083044      LT AAAsf  Affirmed   AAAsf
   B AU3FN0083051       LT AAsf   Affirmed   AAsf
   C AU3FN0083069       LT Asf    Affirmed   Asf
   D AU3FN0083077       LT BBB+sf Upgrade    BBBsf
   E AU3FN0083085       LT BB+sf  Affirmed   BB+sf

KEY RATING DRIVERS

Stable Asset Performance: Obligor default is a key input in its
quantitative analysis. The performance of the underlying assets has
been in line with its base-case expectations. The 30+ and 60+ day
arrears as of end-September 2024 were 0.9% and 0.3%, respectively,
tracking below Fitch's 2Q24 Dinkum ABS Index of 30+ and 60+ arrears
of 1.7% and 0.8%. Cumulative defaults and losses were 0.4% and
0.3%, respectively. Cumulative recoveries as of end-September 2024
were 18.9%, below Fitch's base case recovery of 50% as actual
cumulative recovery rates may be understated due to receivables
that have defaulted but have yet to receive full recoveries.

Its performance expectations reflect the stable performance since
the transaction's closing as well as the expected remaining term of
the transaction.

The assumptions used in this analysis are detailed below:

Base-case remaining default expectations (and 'AAAsf' default
multiples) for each sub-group:

Broker: 3.0% (5.5x); and

Direct Channel (LCA): 1.0% (7.5x)

Base-case recovery expectations (and 'AAAsf' recovery haircuts):
50.0%% (50.0%)

Tight Labour Market Supports Outlook: Portfolio performance is
supported by Australia's continued economic growth and tight labour
market, despite rapid interest rate hikes in 2022-2023. GDP growth
was 1.0% for the year ended June 2024 and unemployment was 4.2% in
October 2024. Fitch forecasts GDP growth of 1.1% for the full year,
rising to 1.7% in 2025, with unemployment at 4.1% and increasing to
4.5% next year. This reflects Fitch's expectation that the effects
of restrictive monetary policy and persistent inflation will
continue to hinder domestic demand.

Limited Liquidity Risk: Fitch completed full cash flow modelling
for the transaction based on data in the August 2024 collection
period to determine the ratings. Interest payment was made to the
notes in all cash-flow modelled scenarios at the respective rating
levels. The transaction is currently paying principal sequentially,
with the ability to switch to pro rata pay down when pro rata
criteria are satisfied. The CE provided to each rated note through
note subordination, along with the liquidity reserve, supports the
rating of the notes.

Low Operational and Servicing Risk: All receivables were originated
by Firstmac Limited, which demonstrated adequate capability as
originator, underwriter and servicer. Servicer disruption risk is
mitigated by back-up servicing arrangements. The nominated back-up
servicer is Perpetual Trustee Company Limited. Fitch undertook an
operational and file review and found that the operations of the
servicer were comparable with those of other auto lenders.

The key rating drivers listed in the applicable sector criteria,
but not mentioned above, are not material to this rating action.

RATING SENSITIVITIES

Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade

Transaction performance may be affected by changes in market
conditions and the economic environment. Weakening asset
performance is strongly correlated with increasing levels of
delinquencies and defaults that could reduce CE available to the
notes.

Unanticipated increases in the frequency of defaults could produce
loss levels higher than Fitch's base case and are likely to result
in a decline in CE and remaining loss-coverage levels available to
the notes. Decreased CE may make certain note ratings susceptible
to negative rating action, depending on the extent of coverage
decline. Hence, Fitch conducts sensitivity analysis by stressing a
transaction's initial base-case assumptions. Fitch stresses the
recovery rate to isolate the effect of a change in recovery
proceeds at the borrower level.

Downgrade Sensitivity

Notes: A1 / A2 / B / C / D / E

Ratings: AAAsf / AAAsf / AAsf / Asf / BBB+sf / BB+sf

Rating Sensitivity to Increased Default Rates

Increase defaults by 10%: AAAsf / AA+sf / AA-sf / Asf / BBBsf /
BB+sf

Increase defaults by 25%: AAAsf / AAsf / A+sf / BBB+sf / BBB-sf /
BBsf

Increase defaults by 50%: AAAsf / A+sf / A-sf / BBBsf / BB+sf /
B+sf

Rating Sensitivity to Decreased Recovery Rates

Recoveries decrease 10%: AAAsf / AA+sf / AAsf / Asf / BBBsf /
BB+sf

Recoveries decrease 25%: AAAsf / AA+sf / AA-sf / A-sf / BBBsf /
BBsf

Recoveries decrease 50%: AAAsf / AA+sf / A+sf / BBB+sf / BBB-sf /
BBsf

Rating Sensitivity to Combined Stresses

Defaults increase 10%/recoveries decrease 10%: AAAsf / AA+sf /
AA-sf / A-sf / BBBsf / BBsf

Defaults increase 25%/recoveries decrease 25%: AAAsf / AA-sf / Asf
/ BBBsf / BB+sf / BB-sf

Defaults increase 50%/recoveries decrease 50%: AA+sf / Asf / BBB+sf
/ BB+sf / BB-sf / less than Bsf

Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade

An upgrade could result from macroeconomic conditions, loan
performance and credit losses that are better than Fitch's baseline
scenario or sufficient build-up of CE that would fully compensate
for credit losses and cash flow stresses commensurate with higher
rating scenarios, all else being equal. The class A notes are at
'AAAsf' so upgrade sensitivities are not relevant.

Notes: B / C / D / E

Ratings: AAsf / Asf / BBB+sf / BB+sf

Reduce defaults by 10% and increase recoveries by 10%: AA+sf / A+sf
/ A-sf / BBB-sf

USE OF THIRD PARTY DUE DILIGENCE PURSUANT TO SEC RULE 17G -10

Form ABS Due Diligence-15E was not provided to, or reviewed by,
Fitch in relation to this rating action.

DATA ADEQUACY

Fitch has checked the consistency and plausibility of the
information it has received about the performance of the asset
pools and the transactions. Fitch has not reviewed the results of
any third-party assessment of the asset portfolio information as
part of its ongoing monitoring.

Prior to the transaction closing, a third-party assessment of the
asset portfolio information was performed. Fitch sought to receive
it, but it was not made available to Fitch. As part of its ongoing
monitoring, Fitch reviewed a small targeted sample of the
originator's origination files and found the information contained
in the reviewed files to be adequately consistent with the
originator's policies and practices and the other information
provided to the agency about the asset portfolio.

Overall, and together with any assumptions referred to above,
Fitch's assessment of the information relied upon for the agency's
rating analysis according to its applicable rating methodologies
indicates that it is adequately reliable.

ESG Considerations

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' 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. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.


INSURTECH SOLUTIONS: First Creditors' Meeting Set for Nov. 21
-------------------------------------------------------------
A first meeting of the creditors in the proceedings of Insurtech
Solutions Pty Ltd will be held on Nov. 21, 2024 at 11:00 a.m. at
Level 26, 25 Bligh Street in Sydney and via virtual meeting
technology.

Peter Paul Krejci and Jonathon Sherwood Keenan of BRI Ferrier were
appointed as administrators of the company on Nov. 13, 2024.



MORTGAGE HOUSE 2024-2: S&P Assigns Prelim. B+(sf) Rating on F Notes
-------------------------------------------------------------------
S&P Global Ratings assigned its preliminary ratings to eight
classes of prime residential mortgage-backed securities (RMBS) to
be issued by Perpetual Trustee Co. Ltd. as trustee for Mortgage
House Capital Mortgage Trust No.1 - Mortgage House RMBS Prime
Series 2024-2. Mortgage House RMBS Prime Series 2024-2 is a
securitization of residential mortgages originated by Mortgage
House of Australia Pty Ltd.

The preliminary ratings reflect the following factors.

S&P said, "We have assessed the credit risk of the underlying
collateral portfolio and we believe the credit support provided to
each class of notes is commensurate with the ratings assigned.
Credit support for the rated notes comprises note subordination,
lenders' mortgage insurance on 1.68% of the loans in the portfolio,
and excess spread.

"We have taken into account the servicing, underwriting standards
and centralized approval process of the seller, Mortgage House of
Australia.

"The various mechanisms to support liquidity within the
transaction, including a liquidity facility equal to 1.5% of the
outstanding balance of the notes and principal draws are sufficient
under our stress assumptions."

The transaction benefits from a fixed- to floating-rate
interest-rate swap provided by National Australia Bank Ltd. to
hedge the mismatch between receipts from any fixed-rate mortgage
loans and the variable-rate RMBS.

S&P has also factored into its ratings the legal structure of the
trust, which is established as a special-purpose entity and meets
its criteria for insolvency remoteness.

  Preliminary Ratings Assigned

  Mortgage House Capital Mortgage Trust No.1 –
  Mortgage House RMBS Prime Series 2024-2

  Class A1-S, A$115.00 million: AAA (sf)
  Class A1-L, A$335.00 million: AAA (sf)
  Class A2, A$23.50 million: AAA (sf)
  Class B, A$9.35 million: AA (sf)
  Class C, A$8.85 million: A (sf)
  Class D, A$3.05 million: BBB (sf)
  Class E, A$2.40 million: BB (sf)
  Class F, A$0.95 million: B+ (sf)
  Class G1, A$0.95 million: Not rated
  Class G2, A$0.95 million: Not rated


OAKFORM FORMWORK: First Creditors' Meeting Set for Nov. 22
----------------------------------------------------------
A first meeting of the creditors in the proceedings of Oakform
Formwork Pty Ltd will be held on Nov. 22, 2024 at 10:30 a.m. at the
offices of Rodgers Reidy and via Microsoft Teams video
teleconferencing.

Renee Sarah Di Carlo and Shane Justin Cremin of Rodgers Reidy were
appointed as administrators of the company on Nov. 12, 2024.



PEPPER ASSET 3: Fitch Assigns 'B(EXP)sf' Rating on Class D Notes
----------------------------------------------------------------
Fitch Ratings has assigned expected ratings to Pepper Asset
Securities No.3 Trust's pass-through floating-rate notes. The notes
are backed by a pool of first-ranking Australian automotive and
equipment lease and loan receivables originated by Pepper Asset
Finance Pty Limited, a subsidiary of Pepper Money Limited (Pepper).
The notes will be issued by BNY Trust Company of Australia Limited
as trustee for Pepper Asset Securities No.3 Trust.

This is a whole loan sale, where the trustee acquired all of the
seller trustee's rights, title and interest in the receivables
using funds provided by the investors under a whole loan
pass-through structure. All notes and units are held by investors.

   Entity/Debt      Rating           
   -----------      ------           
Pepper Asset
Securities
No.3 Trust

   A1-a         LT NR(EXP)sf  Expected Rating
   A1-x         LT NR(EXP)sf  Expected Rating
   B            LT BBB(EXP)sf Expected Rating
   C            LT BB(EXP)sf  Expected Rating
   D            LT B(EXP)sf   Expected Rating
   G            LT NR(EXP)sf  Expected Rating

Transaction Summary

The total collateral pool at the 30 September 2024 cut-off date was
AUD500 million and consisted of 10,182 receivables with
weighted-average (WA) seasoning of 9.5 months, WA remaining
maturity of 58.7 months and an average contract balance of
AUD49,106.

KEY RATING DRIVERS

Stress Commensurate with Ratings: Fitch has assigned base-case
default expectations and 'AAAsf' default multiples as follows:

Novated: 1.10% (7.75x)

Non-Novated Risk Tier A: 3.00% (5.50x)

Non-Novated Risk Tier B: 8.50% (4.25x)

Non-Novated Risk Tier C: 18.00% (3.00x)

The recovery base case for electric vehicles (EV) is 24.0%, with a
'AAAsf' recovery haircut of 60.0% across all risk grades, and that
for non-EVs is 35.0%, with a 'AAAsf' recovery haircut of 50.0%. The
weighted-average (WA) base-case default assumption was 4.3% and the
'AAAsf' default multiple was 4.70x.

Portfolio performance is supported by Australia's continued
economic growth and tight labour market, despite rapid interest
rate hikes in 2022-2023. GDP growth was 1.0% in the year ended June
2024 and unemployment was 4.1% in September 2024. Fitch forecasts
GDP growth of 1.1% for the full year, rising to 1.7% in 2025, with
unemployment at 4.1%, increasing to 4.5% next year. This reflects
Fitch's expectation that restrictive monetary policy and persistent
inflation will continue to hinder domestic demand.

Excess Spread Limited by Commission Note Repayment: The transaction
includes a class A1-x note to fund the purchase-price component
related to the unamortised commission paid to introducers for the
origination of the receivables and a premium. The note will not be
collateralised, but will amortise in line with an amortisation
schedule. The note's repayment limits the availability of excess
spread to cover losses, as it ranks senior in the interest
waterfall; above the class B to G notes.

The class A to G notes will receive principal repayments pro rata
upon satisfaction of stepdown criteria. Other structural features
include a reverse turbo mechanism that redirects available excess
income to repay note principal, and a loss reserve that is
initially funded by note issuance at closing and traps excess
income on or before the third payment date, which is available for
loss reimbursement. Fitch's cash flow analysis incorporates the
transaction's structural features and tests each note's robustness
by stressing default and recovery rates, prepayments, interest-rate
movements and default timing.

Counterparty Risks Addressed: Counterparty risk is mitigated by
documented structural mechanisms that ensure remedial action takes
place should the ratings of the swap providers or transaction
account bank fall below a certain level.

Low Operational and Servicing Risk: All receivables were originated
by Pepper Asset Finance, which demonstrated adequate capability as
originator, underwriter and servicer. Pepper is not rated by Fitch.
Servicer disruption risk is mitigated by backup servicing
arrangements. The nominated backup servicer is BNY Trust Company of
Australia Limited. Fitch undertook an operational and file review
and found that the operations of the originator and servicer were
comparable with those of other auto and equipment lenders.

No Residual Value Risk: There is no residual value exposure in this
transaction. However, 40.7% of the portfolio by loan value,
including all novated leases, has balloon amounts payable at
maturity.

RATING SENSITIVITIES

Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade

Transaction performance may be affected by changes in market
conditions and the economic environment. Weakening asset
performance is strongly correlated with increasing levels of
delinquencies and defaults that could reduce credit enhancement
(CE) available to the notes.

Downgrade Sensitivities

Unanticipated increases in the frequency of defaults and decreases
in recoveries on defaulted receivables could produce loss levels
higher than Fitch's base case, and are likely to result in a
decline in CE and remaining loss-coverage levels available to the
notes. Decreased CE may make certain note ratings susceptible to
negative rating action, depending on the extent of the coverage
decline. Hence, Fitch conducts sensitivity analysis by stressing a
transaction's initial base-case assumptions; these include
increasing WA defaults and decreasing the WA recovery rate.

The rating sensitivity section provides insight into the
model-implied sensitivities the transaction faces when assumptions
- defaults or recoveries - are modified, while holding others
equal. The modelling process uses the modification of default and
loss assumptions to reflect asset performance in up and down
environments. The results should only be considered as one
potential outcome, as the transaction is exposed to multiple
dynamic risk factors.

Notes: B / C / D

Expected Rating: BBBsf / BBsf / Bsf

10% defaults increase: BBB-sf / BB-sf / less than Bsf

25% defaults increase: BB+sf / B+sf / less than Bsf

50% defaults increase: BBsf / less than Bsf / less than Bsf

10% recoveries decrease: BBBsf / BBsf / less than Bsf

25% recoveries decrease: BBB-sf / BB-sf / less than Bsf

50% recoveries decrease: BBB-sf / BB-sf / less than Bsf

10% defaults increase/10% recoveries decrease: BBB-sf / BB-sf /
less than Bsf

25% defaults increase/25% recoveries decrease: BB+sf / Bsf / less
than Bsf

50% defaults increase/50% recoveries decrease: B+sf / less than Bsf
/ less than Bsf

Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade

Economic conditions, loan performance and credit losses that are
better than Fitch's baseline scenario or sufficient build-up of CE
that would fully compensate for credit losses and cash flow
stresses commensurate with higher rating scenarios, all else being
equal.

Upgrade Sensitivities

Notes: B / C / D

Expected Rating: BBBsf / BBsf / Bsf

10% defaults decrease/10% recoveries increase: BBB+sf / BB+sf /
B+sf

USE OF THIRD PARTY DUE DILIGENCE PURSUANT TO SEC RULE 17G -10

Form ABS Due Diligence-15E was not provided to, or reviewed by,
Fitch in relation to this rating action.

DATA ADEQUACY

Fitch sought to receive a third-party assessment conducted on the
asset portfolio information, but none was made available for this
transaction.

As part of its ongoing monitoring, Fitch reviewed a small targeted
sample of the originator's origination files and found the
information contained in the reviewed files to be adequately
consistent with the originator's policies and practices and the
other information provided to the agency about the asset
portfolio.

Overall, and together with any assumptions referred to above,
Fitch's assessment of the information relied upon for the agency's
rating analysis, according to its applicable rating methodologies,
indicates that it is adequately reliable.

ESG Considerations

Pepper Asset Securities No.3 Trust has an ESG Relevance Score of
'4' for Energy Management, which has a negative impact on the
credit profile, and is relevant to the ratings in conjunction with
other factors. The score is higher than the baseline ESG Relevance
Score of '2' (no impact) for this general issue in the Australian
auto sector. There is limited credit performance data for EVs, and
available market data show notable differences in recoveries
between EVs and non-EVs. Although Fitch's analytical approach for
the transaction, in which EVs form 9% of the pool, was not adjusted
purely due to the "green" nature of the underlying collateral,
Fitch referenced available market data for EVs in determining its
recovery assumptions.

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' 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. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.


PIER 33: First Creditors' Meeting Set for Nov. 21
-------------------------------------------------
A first meeting of the creditors in the proceedings of Pier 33 Pty
Ltd will be held on Nov. 21, 2024 at 10:00 a.m. at the offices of
Jirsch Sutherland at Level 9, 120 Edward Street in Brisbane.

Christopher John Baskerville of Jirsch Sutherland was appointed as
administrators of the company on Nov. 11, 2024.



PROVIDENCE ASSET: First Creditors' Meeting Set for Nov. 22
----------------------------------------------------------
A first meeting of the creditors in the proceedings of Providence
Asset Management Pty Ltd will be held on Nov. 22, 2024 at 11:00
a.m. via teleconference facilities.

Edwin Narayan and Andrew Quinn of Mackay Goodwin were appointed as
administrators of the company on Nov. 12, 2024.



TANGO CARAVANS: Owes AUD3.2M; Consumer Protection Body Probes Boss
------------------------------------------------------------------
News.com.au reports that an Australian consumer affairs body is
investigating the boss of a collapsed caravan company which owes
millions of dollars to creditors but only has three vehicles to
repay everyone.

In August, news.com.au reported that Victorian-based Tango Caravans
had plunged into liquidation, leaving 60 customers as much as
AUD90,000 out of pocket each after being "sold the fake dream".

According to news.com.au, Andrew Yeo and Lindsay Bainbridge of
insolvency firm Pitcher Partners, the appointed liquidators,
revealed in a statutory report last week that Tango owes AUD3.2
million to 85 creditors.

Empty-handed customers make up the majority of the unsecured
creditors, with the total amount they are owed exceeding AUD2
million.

And in a major blow to those 60 customers, they have been warned
they won't be receiving any money in the liquidation process.

News.com.au relates that the report, submitted to ASIC, the
corporate regulator, also revealed that Tango Caravans appears to
have been operating while it was insolvent since at least March
last year.

On top of that, customers' deposits were used to prop up the
business and keep it going, rather than being kept separate and to
pay manufacturer's fees, according to the submission.

"The company's bank statements confirmed there was no separation
between customer deposits and operating funds," the report stated.

"Customer funds were used for the company's operating expenses."

Sarah Horter, the sole director of Tango Caravans, personally
guaranteed some of her company's debts, so those creditors have the
ability to bankrupt her, the report, as cited by news.com.au,
noted.

The Melbourne caravan business had racked up a whopping AUD2.5
million of debt in the last 18 months of its operation when it was
believed to have been insolvent, news.com.au relays.

Liquidators wrote that this could lead to an insolvent trading
claim against the director. However, they said it might be
"uncommercial" to pursue Ms. Horter over this as she does not own
any property and would have no means to pay the hefty sum.

Ms. Horter is also under investigation from Consumer Affairs
Victoria, news.com.au adds.

The consumer protection agency has made "preliminary inquiries"
with the liquidators, according to the report, "and are
investigating the affairs of the company and its director
independently of my administration".

In a statement to news.com.au, a Consumer Affairs Victoria
spokesperson said that they "take reports that people have paid for
products or services that are not delivered very seriously".

Tango Caravans had minimal assets and liquidators only recovered
three vehicles.

"I have secured three caravans, two of which are owned by the
company due to customer trade-ins and one which had been sold to a
customer, with the final instalment outstanding," Mr. Yeo wrote in
the report, news.com.au relays.

"These assets are going to be auctioned in due course, and
therefore I am withholding the estimated value."

A small business loan provider called Bizcap had appointed
receivers a day after the business went into liquidation in the
hopes of recovering an unspecified debt.

But a few days later, the receiver handed control of the company
back to liquidators. None of Bizcap's debt were recovered,
news.com.au notes.




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

COUNTRY GARDEN: Submits Offshore Debt Restructuring Plan
--------------------------------------------------------
Reuters reports that Country Garden submitted the preliminary terms
of its offshore debt restructuring proposal to some creditors late
last month, said five sources familiar with the matter, as the
indebted Chinese property developer tries to avoid liquidation.

Reuters relates that the company revised its cash flow projection
in the proposal, said two sources who have direct knowledge of the
plan and another person familiar with the matter. The projection is
a standard part of a debt revamp process to show a firm's ability
to repay.

The projection shows the developer expects a weaker cash flow in
coming years compared with the estimates it had shared with some
offshore creditors earlier this year, two of the sources said,
Reuters relays.

Details of the cash flow projection were not immediately known. The
sources declined to be identified as they were not authorised to
speak to the media, Reuters notes.

After the publication of the Reuters story, a spokesperson for
Country Garden said that the company had "recently submitted a
preliminary draft" of a debt restructuring plan to major creditor
groups.

"The company is having further negotiations with its banking group
creditors and the ad hoc group of US dollar bondholders on the
terms of the restructuring plan," the spokesperson said in a
statement.

Reuters adds that Country Garden said details of the plan cannot be
disclosed due to confidentiality reasons, and added that it hoped
to reach agreements with major creditor groups as soon as
possible.

It did not comment on the revision of the cash flow outlook.

Once China's biggest developer, Country Garden defaulted on its $11
billion in offshore bonds late last year and is fighting a
liquidation petition in Hong Kong. The next court hearing has been
set for Jan. 20, 2025.

Country Garden's downward revision of the cash flow outlook comes
after the government rolled out a raft of measures over the past
year to revive the property sector, which has slumped in recent
years as developers succumbed to a mountain of debt, according to
Reuters.

                        About Country Garden

Country Garden Holdings Company Limited (HKEX:2007), an investment
holding company, invests, develops, and constructs real estate
properties primarily in Mainland China. The company operates in two
segments, Property Development and Construction. It develops
residential projects, such as townhouses and condominiums; and car
parks and retail shops. The company also develops, operates, and
manages hotels. In addition, it researches and develops robots;
sells electronic hardware and food; and provides interior
decoration, agriculture, landscape design, investment and
management consulting, cultural activity planning, and real estate
consulting services.

As reported in the Troubled Company Reporter-Asia Pacific in late
February 2024, Kingboard Holdings-backed money lender Ever Credit
on Feb. 27, 2024, filed a winding-up petition against Country
Garden to the Hong Kong High Court for non-payment of a US$205
million loan.

The TCR-AP reported in late March 2024 that Country Garden has
hired Kroll to carry out a liquidation analysis. Kroll, the New
York-headquartered financial advisory firm, is expected to conduct
an independent business review of Country Garden before projecting
a recovery rate for the developer's creditors under a liquidation
scenario, according to Reuters.

The developer defaulted on US$11 billion of offshore bonds last
year and is in the process of an offshore debt restructuring.


[*] CHINA: Troubled Solar Sector at 'Turning Point,' Longi Says
---------------------------------------------------------------
Bloomberg News reports that China's beleaguered solar industry,
wracked by a glut and fierce price war, is already on the road to
recovery, according to one of the country's largest panel
manufacturers.

"We're at a turning point," Bloomberg quotes Li Zhenguo, founder
and president of Longi Green Energy Technology Co., as saying in an
interview. "It will take two to three quarters for the product
price to rise above cost level, and we already saw bidding prices
rise somewhat from last month."

Massive overcapacity in China's world-leading solar industry has
forced some firms into bankruptcy or restructuring and resulted in
big losses at major manufacturers, Bloomberg notes. Longi, which
used to be the country's biggest panel producer before the current
crisis, has posted four straight quarterly losses and resorted to
slashing staff and costs.

According to Bloomberg, the China Photovoltaic Industry
Association, the country's main solar industry body, called in
October for rational pricing and urged companies to be more
disciplined in bidding for projects. The group also said struggling
manufacturers should exit the market as soon as possible.

"We don't think the current situation is sustainable for the
sector, and the whole industry is also doing a lot of
soul-searching on why the situation has happened," Li said from the
Peruvian capital of Lima, where he was attending the Asia-Pacific
Economic Cooperation forum. The sector should take the initiative
to "limit capacity a little to let the price return to a rational
level," he said.

Major Chinese manufacturers have been investing in and promoting
new solar technologies in an attempt to stand out from their
competitors in the weak market, Bloomberg says. Longi is betting on
back-contact, or BC, cells, while most of its rivals are focusing
on N-type cells.

The company would lift its BC capacity to 50 gigawatts by the close
of 2025 from 10 gigawatts at the end of this year, and would then
double that in another two years, Li said, Bloomberg relays. Longi
was looking to ship 25 to 30 gigawatts of BC cells next year, he
said.

Bloomberg says Chinese solar firms already face 25% tariffs in the
US, which the White House is planning to double, but could be hit
with even higher levies if President-elect Donald Trump follows
through with his pledge for a 60% import tax on all Chinese goods.
Longi, which owns 49% of a solar plant in Ohio, could also be
vulnerable to any changes to the Inflation Reduction Act or any
crackdown on Chinese investment.

"Regarding the future policy stance of the US, uncertainty is
expected," Bloomberg quotes Li as saying. "It's hard to predict and
we need to monitor the developments."




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

A. K. BUILDERS: CARE Keeps C Debt Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of A. K.
Builders (AKB) continue to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       8.00       CARE C; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

   Short Term          10.00       CARE A4; ISSUER NOT
   Bank Facilities                 COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated October 31,
2023, placed the rating(s) of AKB under the 'issuer
non-cooperating' category as AKB had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
AKB continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated September 15, 2024,
September 25, 2024 and October 5, 2024 among others.

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).

Analytical approach: Standalone

Outlook: Stable

A.K. Builders (AKB) is a proprietorship firm established in 1999 by
Mr Ashok Kumar. AKB is engaged in the civil construction work in
Punjab, Sikkim, Madhya Pradesh and Jharkhand which includes
infrastructure development, road works, construction of educational
institutes, earthworks etc. The firm is registered as a class 'A'
contractor with Public Work Department (PWD) of Punjab and Madhya
Pradesh.


A.M. DISTRIBUTORS: CARE Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of A.M.
Distributors (AD) continue to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       5.14       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Short Term Bank      0.35       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 November 2,
2023, placed the rating(s) of AD under the 'issuer non-cooperating'
category as AD had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. AD continues to be
non-cooperative despite repeated requests for submission of
information through e-mails dated September 17, 2024, September 27,
2024 and October 7, 2024 among others.

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).

Analytical approach: Standalone

A.M. Distributors (AD) was established as a partnership firm by Mr.
M. Mohammed Basheer and Mr. N. Abuty in 2005 with a profit-sharing
ratio of 50:50. Later in 2011, the partnership was reconstituted
among Mr. M. Mohammed Basheer, Mr. N. Abuty, Ms. Rajeena, Ms. C.P.
Fousiyabi and Mr. Faheem Nellamcheri with profit sharing ratio of
25:15:25:15:20 respectively. AD is working as an authorised dealer
in sale of car accessories for the supplier namely Pioneer India
Electronics (P) Ltd., Harmon International Industries, Focal etc.
The firm purchases speaker, home theatre etc. from the supplier and
sells them on wholesale basis to retail shops in Kerala. The firm
is also engaged in providing car related services like wheel
alignment, wheel balancing, nitrogen filling etc. The firm owns a
show room at Edapally in Ernakulam (Kerala) with a storage capacity
of car
accessories worth INR2.50 crore. AD has a registered office at
Palarivattom in Cochin, Kerala.

AADHAV GREEN: Ind-Ra Moves BB+ Loan Rating to NonCooperating
------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated all the ratings of
Aadhav Green Power Private Limited to the non-cooperating category
as per Ind Ra's policy on Issuer Non-Cooperation, following
non-submission of No Default Statement continuously for 3 months
despite continuous requests and follow-ups by the agency and also
IND-Ra's inability to validate timely debt servicing through other
sources it considers reliable. No Default Statement in the format
prescribed by SEBI is required to be shared by the issuer every
month as a confirmation that all financial obligations are being
serviced on time. Investors and other users are advised to take
appropriate caution while using these ratings. The rating will now
appear as 'IND BB+/Negative (ISSUER NOT COOPERATING)' on the
agency's website.

The instrument-wise rating actions are:

-- INR20 mil. Fund Based Working Capital Limit Outlook revised to

     Negative; rating migrated to non-cooperating category with
     IND BB+/Negative (ISSUER NOT COOPERATING)/IND A4+ (ISSUER NOT

     COOPERATING) rating;

-- INR330.79 mil. Proposed Term loan Outlook revised to Negative;

     rating migrated to non-cooperating category with IND
     BB+/Negative (ISSUER NOT COOPERATING) rating; and

-- INR149.21 mil. Term loan Outlook revised to Negative; rating
     migrated to non-cooperating category with IND BB+/Negative
     (ISSUER NOT COOPERATING) rating.

Note: ISSUER NOT COOPERATING: Issuer did not co-operate, based on
best available information. Ind-Ra is unable to provide an update,
as the agency does not have adequate information to review the
ratings.

Non-Cooperation by the Issuer

Ind-Ra has not received No Default Statement continuously for 3
months despite continuous requests and follow-ups by the agency.
Ind-Ra had consistently followed up with Aadhav Green Power Private
Limited over emails starting from August 30, 2024, apart from phone
calls.

Limitations regarding Information Availability

Ind-Ra has reviewed the credit ratings of Aadhav Green Power
Private Limited on the basis of best available information and is
unable to provide a forward-looking credit view. Hence, the current
outstanding rating might not reflect Aadhav Green Power Private
Limited's credit strength. If an issuer does not provide timely No
Default Statement, it indicates weak governance, particularly in
'Timely debt servicing'. The agency may also consider this as
symptomatic of a possible disruption / distress in the issuer's
credit profile. Therefore, investors and other users are advised to
take appropriate caution while using these ratings.

About the Company

Tamil Nadu-based AGPL, incorporated in June 2012, is involved in
the generation of solar power. In April 2023, the company ventured
into EPC contracts of solar projects. The company is promoted by S
Venkataramanan.

AMRITLAL NARESH: CARE Keeps C Debt Rating in Not Cooperating
------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Amritlal
Naresh Kumar (ANK) continue to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       1.50       CARE C; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Short Term          11.00       CARE A4; ISSUER NOT
   Bank Facilities                 COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated October 4,
2023, placed the rating(s) of ANK under the 'issuer
non-cooperating' category as ANK had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
ANK continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated August 19, 2024,
August 29, 2024, September 8, 2024 among others.

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).

Analytical approach: Standalone

ANK was established by Mr. Amritlal Naresh Kumar Gupta in the year
1997, as a proprietorship concern. ANK is engaged in the trading of
imported timber. It primarily imports round timber logs from
Singapore and Malaysia, which is subsequently sawn and sized into
various sizes as per the requirement of the customers. The facility
is located in Gandhidham, Kutch near Kandla port which facilitates
easy imports and transportation of the products. ANK imports
various types of timber such as Meranti, Kapur, Saal, Razzaq, Pine
wood, etc. Mr. Amritlal Naresh Kumar Gupta and his son Mr. Sushil
Kumar jointly manage the operations of ANK.

Status of non-cooperation with previous CRA: CRISIL has continued
the rating assigned to the bank facilities of ANK into Issuer Not
Cooperating category vide press release dated December 18, 2023 on
account of its inability to carry out a review in the absence of
the requisite information from the firm.


ANANTHA PVC: CARE Keeps D Debt Ratings in Not Cooperating Category
------------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Anantha
PVC Pipes Private Limited (APPPL) continue to remain in the 'Issuer
Not Cooperating' category.

                      Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       8.00       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Short Term Bank      7.00       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 October 4,
2023, placed the rating(s) of APPPL under the ‘issuer
non-cooperating’ category as APPPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. APPPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated August
19, 2024, August 29, 2024, September 8, 2024 among others.

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).

Analytical approach: Standalone

Anantha PVC Pipes Private Limited (APPPL), incorporated in 2006, is
part of Nandyal (Andhra Pradesh) based Nandi Group of companies.
Promoted by Mr. Sajjala Sreedhar Reddy, APPPL is engaged in the
business of manufacturing of rigid Polyvinyl Chloride (PVC) pipes
and fittings (installed capacity of 12,800 MTPA) at its facilities
located at Hampapuram (Andhra Pradesh). The products are widely
used in irrigation, telecommunication, potable water supplies,
electrical industry, construction industry, sewerage and drainage
etc. Besides, the company is also engaged in trading of resins and
chemicals.

Status of non-cooperation with previous CRA: ICRA has continued the
rating assigned to the bank facilities of APPPL into Issuer Not
Cooperating category vide press release dated October 12, 2023 on
account of its inability to carry out a review in the absence of
the requisite information from the company.

ARPEE ENERGY: CARE Keeps D Debt Rating in Not Cooperating
---------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Arpee
Energy Minerals Private Limited (AEMPL) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       7.00       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 October 13,
2023, placed the rating(s) of AEMPL under the 'issuer
non-cooperating' category as AEMPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. AEMPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated August
28, 2024, September 7, 2024, September 17, 2024 among others.

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).

Analytical approach: Standalone

Arpee Energy Minerals Private Limited (AEMPL) was incorporated in
March 2006 by Mr. Praveen Kumar Agarwal and Mr. Raman Mehra. The
company is engaged in the business of coal trading. The company
procures its trading material from Central coalfields limited,
Bihar foundry & castings ltd etc. and sells the same to various
industries like steel, power etc. The day-to-day affairs of the
company are looked after by Mr. Praveen Kumar Agarwal (Director)
with adequate support from other director Mr. Raman Mehra and a
team of experienced personnel.


BALAJI ENGINEERING: CARE Keeps D Debt Rating in Not Cooperating
---------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Balaji
Engineering (BE) continue to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      10.00       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 November 1,
2023, placed the rating(s) of BE under the 'issuer non-cooperating'
category as BE had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. BE continues to be
non-cooperative despite repeated requests for submission of
information through e-mails dated September 16, 2024, September 26,
2024 and October 6, 2024 among others.

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).

Analytical approach: Standalone

Established in 2003, Balaji Engineering (BE) is an Aurangabad,
Maharashtra based entity promoted by Mr. Santosh Lakhichand
Runwal. The firm is primarily engaged as an auto ancillary unit for
manufacturing of automobile components which include spare parts
and accessories for 2 wheelers, 3 wheelers and 4 wheelers.

BALDEV KRISHAN: CARE Keeps D Debt Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Baldev
Krishan Memorial Charitable Society (BKMCS) continues to remain in
the 'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       8.60       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 November 2,
2023, placed the rating(s) of BKMCS under the 'issuer
non-cooperating' category as BKMCS had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. BKMCS continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
September 17, 2024 and September 27, 2024 and October 7, 2024 among
others.

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).

Analytical approach: Standalone

The entity was established by the name of 'ISF College of Pharmacy
Managing Committee' in 1992 by Mr. Baldev Singh. Later on, after
the death of Mr. Baldev Singh, the name was changed to Baldev
Krishan Memorial Charitable Society (BKM) which got registered
under the Society registration Act-1860, in Feb-2010. The society
is currently being managed by Mr. Anoop Garg and his wife Mrs.
Rinkle Garg with an objective to provide higher education in the
field of dentistry. The trust has established BRS Institute of
Medical Sciences in 1992, affiliated to Pt. B.D.S University of
Health Science, Rohtak and offers courses of BDS (Bachelor in
Dental Surgery) and MDS (Master of Dental Surgery) under it.


BBT ELEVATED: CARE Keeps D Debt Rating in Not Cooperating Category
------------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of BBT
Elevated Road Private Limited (BERPL) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      135.00      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 October 13,
2023, placed the rating(s) of BERPL under the 'issuer
non-cooperating' category as BERPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. BERPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated August
28, 2024, September 7, 2024, September 17, 2024 among others.

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).

Analytical approach: Standalone

BBT Elevated Road Private Limited (BERPL), incorporated in February
2014, promoted by Riverbank Holdings Pvt. Ltd (RHPL, 90% stake) and
Larsen & Toubro Ltd (L&T, 10% stake), as a Special Purpose Vehicle
(SPV) to undertake the construction, operation and maintenance of
an elevated road of 7.4 Km between Jinzira Bazar and Batanagar on
Budge Budge Trunk Road (BBTR) in Kolkata, West Bengal on Public
Private Partnership (PPP) model and Design, Build, Operate and
Transfer (DBFOT) - Toll basis under Jawaharlal Nehru National Urban
Renewal Mission (JnNURM). The total project cost of INR336.25 crore
is being financed at a debt equity ratio of 0.65:1. The Concession
Agreement (CA) was executed between BBT (Concessionaire) and
Kolkata Metropolitan Development Authority (KMDA) on May 28, 2014
for a concession period of 32 years from the appointed date.


BHUWNESHWAR PATHAK: CARE Keeps C Debt Rating in Not Cooperating
---------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of
Bhuwneshwar Pathak Construction Private Limited (BPCPL) continue to
remain in the 'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       0.70       CARE C; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

   Short Term Bank     15.00       CARE A4; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated September 20,
2023, placed the rating(s) of BPCPL under the 'issuer
non-cooperating' category as BPCPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. BPCPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated August
5, 2024, August 15, 2024, August 25, 2024 among others.

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).

Analytical approach: Standalone

Outlook: Stable


Bhuwneshwar Pathak Construction Private Limited (BPCPL) was
incorporated in June 2009 by the Pathak family of Patna, Bihar.
Since its inception, the company has been engaged in civil
construction, erection and maintenance activities. BPCPL is an ISO
9001:2008 certified company for its civil engineering services. The
company derives its major revenue (97.97% of total revenue of FY19)
from construction/erection & maintenance of Telecommunication
transmission lines and balance revenue from other general civil
construction activities.

Status of non-cooperation with previous CRA: CRISIL has continued
the rating assigned to the bank facilities of BPCPL into Issuer Not
Cooperating category vide press release dated October 15, 2024 on
account of its inability to carry out a review in the absence of
the requisite information from the company.


DHURIA RICE: CARE Keeps C Debt Rating in Not Cooperating Category
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Dhuria Rice
Mill (DRM) continues to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       7.50       CARE C; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated November 2,
2023, placed the rating(s) of DRM under the 'issuer
non-cooperating' category as DRM had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
DRM continues to be non-cooperative despite repeated requests for
submission of information through emails dated September 17, 2024,
September 27, 2024 and October 7, 2024 among others.

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).

Analytical approach: Standalone

Dhuria Rice Mills (DRM) was established in 1978 as a partnership
firm and is currently being managed by Mr Ashok Kumar and Mr Arun
Kumar sharing profit and losses equally. DRM is engaged in
processing of paddy at its manufacturing unit located at Fazilka,
Punjab.

Status of non-cooperation with previous CRA: ICRA has continued the
rating assigned to the bank facilities of DRM into Issuer Not
Cooperating category vide press release dated August 2, 2024 on
account of its inability to carry out a review in the absence of
requisite information.


GO GREEN: CARE Keeps D Debt Rating in Not Cooperating Category
--------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of The Go
Green Build Tech Private Limited (GBP) continue to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       9.56       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 November 6,
2023, placed the rating(s) of TGGBTPL under the 'issuer
non-cooperating' category as TGGBTPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. TGGBTPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
September 21, 2024, October 1, 2024 and October 11, 2024, among
others.

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).

Analytical approach: Standalone

The Go Green Build Tech Private Limited (TGGBTPL) was incorporated
in December 26, 2012. The company is promoted by Mr. Umesh Chand
Jain, Mr. Rishabh Jain and Mr. Nikhil Jain. TGGBTPL is a part of
the "Velveleen Group" which has interests in the manufacturing of
velvet and fabric, real estate infrastructure development,
manufacturing of concrete bricks and education. TGGBTPL is engaged
in manufacturing of civil construction materials such as fly ash
bricks at its manufacturing unit at Dadri, Uttar Pradesh.

Status of non-cooperation with previous CRA: Brickwork has
continued the rating assigned to the bank facilities of TGGBTPL
into Issuer Not Cooperating category vide press release dated July
26, 2024 on account of its inability to carry out a review in the
absence of requisite information.


HARIKISHAN TEJMAL: CARE Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Harikishan
Tejmal & Company (HTC) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term/          22.00       CARE D/CARE D; ISSUER NOT
   Short Term                      COOPERATING; Rating continues
   Bank Facilities                 to remain under ISSUER NOT
                                   COOPERATING category

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated November 3,
2023, placed the rating(s) of HTC under the 'issuer
non-cooperating' category as HTC had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
HTC continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated September 18, 2024,
September 28, 2024 and October 8, 2024 among others.

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).

Analytical approach: Standalone

Bundi (Rajasthan) based Harikishan Tejmal & Company (HTC) was
formed as a partnership concern by its key promoter Mr. Tejmal
Nyati along with his family members in 2006. Subsequently, there
was change in the partnership deep and HTC started to be owned and
managed by Mr. Rajesh Kumar Nyati along with his wife Mrs. Prerna
Nyati.


HBS REALTORS: ICRA Keeps D Debt Rating in Not Cooperating
---------------------------------------------------------
ICRA has kept the Non-Convertible Debenture of HBS Realtors Private
Limited in the 'Issuer Not Cooperating' category. The rating is
denoted as [ICRA]D; ISSUER NOT COOPERATING."

                     Amount
   Facilities     (INR crore)    Ratings
   ----------     -----------    -------  
   Bonds/NCD/LTD      53.56      [ICRA]D; ISSUER NOT COOPERATING;
                                 Rating Continues to remain under
                                 the 'Issuer Not Cooperating'
                                 Category

As part of its process and in accordance with its rating agreement
with HBS Realtors Private Limited, 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. Despite multiple
requests by ICRA, the entity's management has
remained non-cooperative. In the absence of requisite information
and in line with the aforesaid policy of ICRA, the rating has been
continued to the "Issuer Not Cooperating" category. The rating is
based on the best available information.

Incorporated in 1995, HBS Realtors Private Limited is a
Mumbai-based real estate developer involved in large scale
city-centric developments in commercial as well residential
segments. The group has a diversified product mix with a strong
presence in residential, retail, commercial, hospitality and SEZ
developments. Over the last decade, HBS has built strategic
partnership swith reputed business houses such as Phoenix Mills
Limited for the development of its 'Marketcity' projects, and with
the Mody Group of JB Chemicals and Pharmaceuticals for the
development of its pharma SEZ project. Over the years, HBS has also
attracted various financial investors like IL&FS, MPC Fund, SREI
Infrastructure Finance Ltd. and Edelweiss across its various
projects.


JAIPRAKASH ASSOCIATES: NARCL Ups Offer For Debt to INR12,000 crore
------------------------------------------------------------------
The Economic Times reports that the government-backed bad loan
aggregator National Asset Reconstruction Co (NARCL) has increased
its offer to take over the debt of Jaiprakash Associates (JAL) even
as the company's appeal against its admission into insolvency is
pending before the National Company Law Appellate Tribunal
(NCLAT).

Last month, NARCL made a fresh INR12,000 crore bid to take over the
INR54,000 crore debt, increasing its earlier INR10,000 core offer
in March, ET recalls. The offer involves an upfront cash payment
and security receipts guaranteed by the government.

Lenders are currently evaluating the offer as a potential
resolution to the long-delayed insolvency case, adds ET.

                    About Jaiprakash Associates

Jaiprakash Associates Ltd (JAL) is the flagship company of the
Jaypee group and is engaged in engineering and construction,
cement, real estate and hospitality businesses. JAL was one of the
leading cement manufacturers with an installed capacity of ~28
million tonnes per annum (mtpa) and under implementation capacity
of ~5 mtpa on a consolidated basis as on March 31, 2018. JAL is
also engaged in the construction business in the field of civil
engineering, design and construction of hydro-power, river valley
projects. JAL is also undertaking power generation, power
transmission, real estate, road BOT, healthcare and fertilizer
businesses through its various subsidiaries/SPVs.

JAL featured in Reserve Bank of India's second list of at least 26
defaulters with which it wants creditors to start the process of
debt resolution before initiating bankruptcy proceedings.

In September 2018, ICICI Bank had filed an insolvency petition
against JAL under Section 7 of IBC.

On June 3, 2024, the Allahabad bench of National Company Law
Tribunal (NCLT) admitted the insolvency plea filed by ICICI Bank.
The tribunal also appointed Bhuvan Madan as Interim Resolution
Professional of JAL after suspending the board of the company.


JPM EXPORTS: CARE Keeps D Debt Ratings in Not Cooperating Category
------------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of JPM
Exports Private Limited (JEPL) continue to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       45.00      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Short Term Bank      5.00       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 September 20,
2023, placed the rating(s) of JEPL under the 'issuer
non-cooperating' category as JEPL had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
JEPL continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated August 5, 2024,
August 15, 2024, August 25, 2024 among others.

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).

Analytical approach: Standalone

JPM Exports Private Limited (JEPL) incorporated on August 19, 2009
by Mr. Dilip Madhogaria, is engaged in manufacturing and export of
work wear and uniforms such as fire control units, hotels,
hospitals, military wear and casual wear. It is a Government of
India registered Star Export House. JEPL has expanded its
operations through Bangladesh in 2013 and has also set up a
comprehensive assembly line of production at its leased facility in
Barasat, West Bengal in 2016.


KALYAN VAIJINATHRAO: CARE Keeps D Debt Rating in Not Cooperating
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Kalyan
Vaijinathrao Kale (KVK) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       2.96       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 November 2,
2023, placed the rating(s) of KVK under the 'issuer
non-cooperating' category as KVK had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
KVK continues to be non-cooperative despite repeated requests for
submission of information through emails dated September 17, 2024,
September 27, 2024 and October 7, 2024 among others.

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).

Analytical approach: Standalone

Established in 2016, Kalyan Vaijinathrao Kale (KVK) is an
Aurangabad (Maharashtra) based firm promoted by Mr. Kalyan
Vaijinathrao Kale. The firm is engaged in sale of milk. The dairy
farm of the firm is located at Aurangabad District, Maharashtra.


MUKTSAR COTTON: ICRA Keeps B Debt Rating in Not Cooperating
-----------------------------------------------------------
ICRA has kept the Long-Term ratings of Muktsar Cotton (P) Ltd. in
the 'Issuer Not Cooperating' category. The rating is denoted as
"[ICRA]B(Stable); ISSUER NOT COOPERATING".

                     Amount
   Facilities     (INR crore)    Ratings
   ----------     -----------    -------
   Long Term-        10.00       [ICRA]B (Stable) ISSUER NOT
   Fund-Based                    COOPERATING; Rating continues  
   Cash Credit                   to remain in the 'Issuer Not
                                 Cooperating' category

As part of its process and in accordance with its rating agreement
with Muktsar Cotton (P) Ltd., 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. Despite multiple
requests by ICRA, the entity's management has remained
non-cooperative. In the absence of requisite information and in
line with the aforesaid policy of ICRA, the rating has been
continued to the "Issuer Not Cooperating" category. The rating is
based on the best available information.

MCPL was incorporated in September 1996 and is engaged in cotton
ginning to produce cotton lint and cotton seeds. The company also
crushes cotton seeds to produce cotton seed oil and cotton seed
cake, however their proportion in the company's total sales is
modest. The company has a ginning unit in Muktsar (Punjab) with 32
ginning machines and 7 expellers and an installed capacity for
ginning 750 quintals of kapas and crushing 600 quintals of cotton
seeds per day. The entire cotton produced is sold to a group
company, which is engaged in cotton yarn spinning.


NEW BHARAT: ICRA Keeps D Debt Rating in Not Cooperating Category
----------------------------------------------------------------
ICRA has kept the Long-Term ratings of New Bharat Rice Mills in the
'Issuer Not Cooperating' category. The rating is denoted as
"[ICRA]D; ISSUER NOT COOPERATING".

                     Amount
   Facilities     (INR crore)    Ratings
   ----------     -----------    -------
   Long-term-         34.00      [ICRA]D; ISSUER NOT COOPERATING;
   Fund based                    Rating Continues to remain under
   Cash Credit                   'Issuer Not Cooperating'
                                 Category


As part of its process and in accordance with its rating agreement
with New Bharat Rice Mills, 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. Despite multiple
requests by ICRA, the entity's management has remained
non-cooperative. In the absence of requisite information and in
line with the aforesaid policy of ICRA, the rating has been
continued to the "Issuer Not Cooperating" category. The rating is
based on the best available information.

Incorporated in the 1958, NRBM is a partnership firm engaged in
milling, processing and sorting of rice. The firm has its plant at
Batala (Punjab) with a milling capacity of 8 tonnes per hour. As
per the management, the average utilization remains around 80-90%.


NEXTRA TELESERVICES: CARE Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Nextra
Teleservices Private Limited (NTPL) continue to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      17.00       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Short Term Bank      0.50       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 November 10,
2023, placed the rating(s) of NTPL under the 'issuer
non-cooperating' category as NTPL had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
NTPL continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated September 25, 2024,
October 5, 2024 and October 15, 2024 among others.

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).

Analytical approach: Standalone

Nextra Teleservices Private Limited (NTPL) was incorporated in 2006
under the name Suncity Karnataka Projects Private Limited. On
August 22, 2012 the name changed to present one. The company
started its commercial operation on April 1, 2013. The company is
currently being managed by Mr. Gaurav Bansal, Mr. Nikhil Bansal and
Mr. Ankit Bansal. NTP is a broadband service provider over FTTX
Networks and Cable Networks.


PARIVARTAN BUILDTECH: CARE Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Parivartan
Buildtech Private Limited (PBPL) continue to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      10.00       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Long Term/          15.05       CARE D/CARE D; ISSUER NOT
   Short Term                      COOPERATING; Rating continues
   Bank Facilities                 to remain under ISSUER NOT
                                   COOPERATING category

   Short Term Bank      9.95       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 October 27,
2023, placed the rating(s) of PBPL under the 'issuer
non-cooperating' category as PBPL had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
PBPL continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated September 11, 2024,
September 21, 2024 and October 1, 2024 among others.

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).

Analytical approach: Standalone

PBPL was incorporated in November 2013 by Mr Parivartan and Mr Raja
Bhoj. The company has succeeded the business of an erstwhile
proprietorship firm M/s Parivartan Contractors from April 1, 2015
onwards which was managed by Mr Parivartan and established in 2008.
The company is engaged in road and civil construction work which
includes construction of roads and laying of sewage, water supply
and drainage pipeline. PBPL is registered as a Class 'I' contractor
for Road Works with Haryana Public Work Department (Building &
Road). The company operates mainly in Haryana, Rajasthan and Madhya
Pradesh.

Status of non-cooperation with previous CRA: ACUITE continues to
categorize rating assigned to the bank facilities of PBPL under
non-cooperation category vide PR dated January 18, 2024 on account
of its inability to carry out a rating surveillance in the absence
of the requisite information from the company.


PATIL AND COMPANY: CARE Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Patil and
Company (PC) continue to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       10.00      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Long Term/           7.00       CARE D/CARE D; ISSUER NOT
   Short Term                      COOPERATING; Rating continues
   Bank Facilities                 to remain under ISSUER NOT
                                   COOPERATING category

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated October 26,
2023, placed the rating(s) of PC under the 'issuer non-cooperating'
category as PC had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. PC continues to be
non-cooperative despite repeated requests for submission of
information through e-mails dated September 10, 2024, September 20,
2024 and September 30, 2024 among others.

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).

Analytical approach: Standalone

Patil and Company (PC) was established in the year 1976 as a
partnership firm and is engaged in civil construction of roads and
is registered as a Class 1-A contractor with Public Work Department
(PWD), Maharashtra, and Karnataka by virtue of which it is eligible
to undertake all types of civil works contract within the
respective states. The partners of the firm have an extensive
experience of more than four decades since the inception of the
firm.


RAJENDRA RICE: CARE Keeps C Debt Ratings in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Rajendra
Rice & General Mills (RRGM) continue to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       6.50       CARE C; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Long Term/           0.50       CARE C/CARE A4; ISSUER NOT
   Short Term                      COOPERATING; Rating continues
   Bank Facilities                 to remain under ISSUER NOT
                                   COOPERATING category

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated November 3,
2023, placed the rating(s) of RRGM under the 'issuer
non-cooperating' category as RRGM had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
RRGM continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated September 18, 2024,
September 28, 2024 and October 8, 2024 among others.

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).

Analytical approach: Standalone

Tohana-based, (Haryana) Rajendra Rice & General Mills (RRGM) was
established in 1986 as partnership firm by Mr Avtar Singh and his
sons, Mr Tarsem Singh and Ms Surinder Kaur sharing profit and
losses equally. RRGM is engaged in milling and processing of
basmati and Non-Basmati rice. The firm is also engaged in trading
of basmati rice.


REGEN INFRASTRUCTURE: ICRA Keeps D Ratings in Not Cooperating
-------------------------------------------------------------
ICRA has kept the long-term and Short-Term ratings of Regen
Infrastructure and Services Private Limited in the 'Issuer Not
Cooperating' category. The rating is denoted as [ICRA]D/[ICRA]D;
ISSUER NOT COOPERATING.

                     Amount
   Facilities     (INR crore)   Ratings
   ----------     -----------   -------
   Long-term/        20.00      [ICRA]D/[ICRA]D; ISSUER NOT
   Short Term                   COOPERATING; Rating Continues to
   Non Fund Based               remain under 'Issuer Not
   Others                       Cooperating' Category

   Long-term-        20.00      [ICRA]D; ISSUER NOT COOPERATING;
   Fund based                   Rating Continues to remain under
   Cash Credit                  'Issuer Not Cooperating'
                                Category

As part of its process and in accordance with its rating agreement
with Regen Infrastructure and Services Private Limited, 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.
Despite multiple requests by ICRA, the entity's management has
remained non-cooperative. In the absence of requisite Information
and in line with the aforesaid policy of ICRA, the rating has been
continued to the "Issuer Not Cooperating" category. The rating is
based on the best available information.

Regen Infrastructure and Services Private Limited incorporated in
January 2008, is a wholly owned subsidiary of Regen Powertech
Private Limited (RPPL). This company primarily handles the
infrastructure requirements in commissioning a WTG, including
facilitation of land acquisition, and the civil works w.r.t.
erection and commissioning of WTGs supplied by RPPL. The company
also undertakes O&M services for WTGs installed by RPPL.


SHLOGAM AGRO: CARE Keeps D Debt Rating in Not Cooperating Category
------------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Shlogam
Agro Private Limited (SAPL) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Short Term Bank      30.00      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 October 18,
2023, placed the rating(s) of SAPL under the 'issuer
non-cooperating' category as SAPL had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
SAPL continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated September 2, 2024,
September 12, 2024 and September 22, 2024 among others.

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).

Analytical approach: Standalone

Shlogam Agro Private Limited (SAPL), incorporated in May 2008 is a
closely held family business engaged in trading of rice, millet,
maize, groundnut meal, soya bean meal, millet, barley and chickpeas
among other agro commodities since inception. SAPL is managed by
Mr. Rahul Bakliwal and Mr. Nikhil Bakliwal.


SUNSHINE LIQUID: CARE Keeps C Rating in Not Cooperating Category
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Sunshine
Liquid Storage Private Limited (SLSPL) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       16.50      CARE C; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated October 19,
2023, placed the rating(s) of SLSPL under the 'issuer
non-cooperating' category as SLSPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. SLSPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
September 3, 2024, September 13, 2024 and September 23, 2024 among
others.

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).

Analytical approach: Standalone

Incorporated in January 2011, Sunshine Liquid Storage Private
Limited (SLSPL) is engaged in the business of renting of liquid
storage tanks. SLSPL was incorporated in 2011 but the construction
for storage tanks commenced from May 2016 as there was delay in the
release of the tender by the Kandala port trust authorities.

VAIDYA INDUSTRIES: CARE Keeps B- Debt Rating in Not Cooperating
---------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Vaidya
Industries (VI) continues to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      13.88       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated November 1,
2023, placed the rating(s) of VI under the 'issuer non-cooperating'
category as VI had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. VI continues to be
non-cooperative despite repeated requests for submission of
information through e-mails dated September 16, 2024, September 26,
2024 and October 6, 2024 among others.

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).

Analytical approach: Standalone

Established in the year 1995, Vaidya Industries (VI) is engaged in
manufacturing and trading of wooden and steel furniture. The
manufacturing facility of the entity is located at Nagpur
(Maharashtra).

Status of non-cooperation with previous CRA: Acuite has continued
the rating assigned to the bank facilities of VI under Issuer Not
Cooperating category vide press release dated April 18, 2024 on
account of its inability to carry out a review in the absence of
the requisite information from the firm.




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

BARAKAH OFFSHORE: Drafts New PN17 Regularisation Plan
-----------------------------------------------------
John Lai at theedgemalaysia.com reports that Practice Note 17
(PN17) company Barakah Offshore Petroleum Bhd said it will need to
reformulate its regularisation plan after receiving an adjudication
sum of MYR78.8 million and updates on tendering contracts.

In a bourse filing, Barakah said it had on Nov. 15 withdrawn the
proposed regularisation plan submitted on Oct. 30 to Bursa Malaysia
Securities, and applied for an extension of time to submit a new
plan, theedgemalaysia.com relates.  

Under the previous plan, Barakah proposed a capital reduction of
MYR195 million, a three-into-one share consolidation, and an
issuance of 62.5 million new shares to executive chairman Datuk
Seri Nik Hamdan Daud to raise MYR7.5 million.

According to theedgemalaysia.com, the adjudication award was made
in September 2021 after Barakah's wholly owned unit PBJV Group Sdn
Bhd was successful in its adjudication claim against EnQuest
Petroleum Production Malaysia Lt relating to offshore works secured
under a five-year contract in 2018.

EnQuest was required to pay MYR73.57 million, by January 2022, with
an interest at a rate of 5% per year until full payment.

However, in January 2022 EnQuest filed the notice of arbitration
against PBJV for alleged losses suffered by Enquest arising from
the termination of PBJV as EnQuest's contractor.

EnQuest's attempt to appeal the verdict was dismissed at the
Federal Court in mid-August this year.

On Oct. 28, Barakah said it has entered into a preliminary
agreement to sell its pipe-laying barge, Kota Laksamana 101, to
Indonesian shipping offshore company PT Wintermar Rajawali Asia for
a cash consideration of US$9.7 million (MYR41.81 million),
theedgemalaysia.com relates.

The proceeds from the disposal were intended to be utilised solely
for the partial repayment of the US$11.06 million sum owed to
Export-Import Bank of Malaysia Bhd (EXIM Bank).

                       About Barakah Offshore

Barakah Offshore Petroleum Berhad, an investment holding company,
provides offshore and onshore pipeline services for the oil and gas
industry primarily in Malaysia.

In May 2019, Barakah Offshore Petroleum slipped into Practice Note
17 (PN17) after it failed to make instalment payments to
Export-Import Bank of Malaysia Bhd (Exim Bank) and was unable to
provide a solvency declaration to Bursa Malaysia Securities Bhd.


FASHIONVALET SDN: Probe Expected to be Completed in Two Weeks
-------------------------------------------------------------
Bernama reports that the investigation involving FashionValet Sdn
Bhd founding couple over the investment loss of Khazanah Nasional
Bhd and Permodalan Nasional Bhd (PNB) is expected to be completed
in two weeks.

According to Bernama, Chief Commissioner of the Malaysian
Anti-Corruption Commission (MACC) Tan Sri Azam Baki said he had
ordered the investigation of the case to be expedited.

"There are 14 witnesses whose statements have been recorded and we
expect to record the statements of four others," he told the media
after opening the MACC Shooting Programme with Media Practitioners
on Nov. 16.

He said the MACC has also frozen FashionValet accounts including
those from 30 Maple Sdn Bhd.

Bernama relates that investigation into the e-commerce business
platform was carried out after the MACC detected several suspicious
account transactions in its probe into investment losses of
Khazanah and PNB totalling MYR43.9 million.

Regarding the commission's investigation into the alleged existence
of a cartel in the distribution and supply of paddy fertiliser
contract linked to an organisation, Azam said the investigation is
in progress and expected to be completed in a few weeks, adds
Bernama.

Fashion Valet Sdn Bhd operates as an online fashion store. The
Company offers ready-to-wear garments for women, shoes,
accessories, and handbags. Fashion Valet serves customers in
Malaysia.




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

CHONTICHA LIMITED: Creditors' Proofs of Debt Due on Dec. 20
-----------------------------------------------------------
Creditors of Chonticha Limited are required to file their proofs of
debt by Dec. 20, 2024, to be included in the company's dividend
distribution.

The company commenced wind-up proceedings on Nov. 14, 2024.

The company's liquidator is:

          Digby John Noyce
          RES Corporate Services Limited
          PO Box 301890
          Albany
          Auckland 0752



FOREST & FARM: Court to Hear Wind-Up Petition on Dec. 3
-------------------------------------------------------
A petition to wind up the operations of Forest & Farm Services
Limited will be heard before the High Court at Rotorua on Dec. 3,
2024, at 10:00 a.m.

The Commissioner of Inland Revenue filed the petition against the
company on Oct. 15, 2024.

The Petitioner's solicitor is:

          Christina Anne Hunt
          Inland Revenue, Legal Services
          21 Home Straight
          PO Box 432
          Hamilton



HAMATA HAULAGE: Creditors' Proofs of Debt Due on Dec. 13
--------------------------------------------------------
Creditors of Hamata Haulage Limited are required to file their
proofs of debt by Dec. 13, 2024, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on Nov. 6, 2024.

The company's liquidator is:

          Simon Dalton
          Gerry Rea Partners
          PO Box 3015
          Auckland



TINAKU LIMITED: Court to Hear Wind-Up Petition on Dec. 9
--------------------------------------------------------
A petition to wind up the operations of Tinaku Limited will be
heard before the High Court at Tauranga on Dec. 9, 2024, at 10:00
a.m.

The Commissioner of Inland Revenue filed the petition against the
company on Sept. 30, 2024.

The Petitioner's solicitor is:

          Timothy Saunders
          Inland Revenue, Legal Services
          21 Home Straight
          PO Box 432
          Hamilton



UNIQUE INTERIORS: Grant Bruce Reynolds Appointed as Liquidator
--------------------------------------------------------------
Grant Bruce Reynolds of Reynolds & Associates on Nov. 11, 2024, was
appointed as liquidator of Unique Interiors Limited.

The liquidator may be reached at:

          Reynolds & Associates Limited
          PO Box 259059
          Botany
          Auckland 2163





=====================
P H I L I P P I N E S
=====================

ABS-CBN: Banks Grant 'Conditional Waiver' on PHP12 Billion Loans
----------------------------------------------------------------
Bilyonaryo.com reports that ABS-CBN Broadcasting Corp. of the Lopez
family got a big boost on its financial troubles after getting a
"conditional waiver" from creditor banks on its PHP11.8 billion
loans.

As of Oct. 30, 2024, ABS-CBN announced that it had successfully
extended its "standstill agreement" with banks until Dec. 30, 2024,
giving the company more time to meet certain loan conditions,
Bilyonaryo.com relates. In addition, the creditors agreed to waive
some financial requirements for 2024.

"The conditions for the extension and waiver are expected to be
completed by November 2024. As of September 30, 2024, ABS-CBN's
loans were classified as current. Despite this, the company
continues to service its loan obligations according to the original
schedule," ABS-CBN said.

According to Bilyonaryo.com, the standstill agreement was signed in
2021 a year after ABS-CBN lost its franchise, which was a key
requirement under its loan covenants.

The banks agreed not to declare ABS-CBN in default for three years,
giving the company time to address its financial challenges.

The original deadline for the agreement was set for June 30, 2023,
but was extended to Dec. 31, 2023, Bilyonaryo.com notes.

                           About ABS-CBN

ABS-CBN Broadcasting operated a network of TV & radio stations in
the Philippines. The Company produced entertainment and news
programs for basic and cable channels.

On May 5, 2020, the National Telecommunications Commission (NTC)
issued a cease-and-desist order (CDO) against ABS-CBN, immediately
directing it to stop broadcast operations in radio and television.
The order followed the expiration of ABS-CBN's broadcast franchise
on May 4, 2020.

On July 10, 2020, members of the House of Representatives denied
ABS-CBN's renewal franchise application, citing several issues on
the network's prior 25-year franchise.

The network has now rebranded itself as a mass content company and
produced television programs, films and other entertainment content
through partnerships with independent production companies and
broadcasters.

ABS-CBN Corp.'s net loss widened to PHP9.76 billion in 2023 from
PHP2.46 billion in 2022. The company reported a net loss of PHP5.64
billion in 2021.


NECTAR NIGHTCLUB: To Shut Down on January 1, 2025
-------------------------------------------------
Bilyonaryo.com reports that curtains are set to fall on Nectar
Nightclub, a popular party space for LGBTQIAs in Bonifacio Global
City, Taguig.

The nightclub, which began operations in 2016, announced that it
will permanently close its doors on January 1, 2025, the report
says.

"Due to The Fort's upcoming closure, our final night of operation
will be December 31st," Nectar's statement read. "It's the end of
an era, but also a moment to celebrate the unforgettable
experiences we've shared."

According to Bilyonaryo.com, Nectar is known for its drag
performances, which were topbilled by Drag Race Philippines stars
like Minty Fresh, Zymba Ding, Lady Morgana and Hana Beshie.

Ahead of its closure, Nectar said several events have been lined up
for its patrons, including a "Poison Christmas Tree Lighting" on
December 4, the sixth season of Drag Cartel on December 12, and a
MaliGAYang Pasko! Performance on Christmas Day.





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

AVPIV HIROSHIMA: Creditors' Proofs of Debt Due on Dec. 16
---------------------------------------------------------
Creditors of Avpiv Hiroshima SG Holding Pte. Ltd. and Avpiv
Katsukabe SG Holding Pte. Ltd. are required to file their proofs of
debt by Dec. 16, 2024, to be included in the company's dividend
distribution.

Avpiv Hiroshima and Avpiv Katsukabe commenced wind-up proceedings
on Nov. 7, 2024.

The company's liquidators are:

          Chek Khai Juat
          Tay Tuan Leng
          c/o Tricor Singapore
          9 Raffles Place
          #26-01 Republic Plaza
          Singapore 048619



IDEAL DESIGN: Court to Hear Wind-Up Petition on Nov. 29
-------------------------------------------------------
A petition to wind up the operations of Ideal Design Interior Pte.
Ltd. will be heard before the High Court of Singapore on Nov. 29,
2024, at 10:00 a.m.

Maybank Singapore Limited filed the petition against the company on
Nov. 8, 2024.

The Petitioner's solicitors are:

          Shook Lin & Bok LLP
          1 Robinson Road
          #18-00, AIA Tower
          Singapore 048542



SINGAPORE AMARAVATI: Creditors' Proofs of Debt Due on Dec. 16
-------------------------------------------------------------
Creditors of Singapore Amaravati Investment Holdings Pte. Ltd. are
required to file their proofs of debt by Dec. 16, 2024, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on Nov. 11, 2024.

The company's liquidators are:

          Leow Quek Shiong
          Gary Loh Weng Fatt
          Seah Roh Lin
          c/o BDO Advisory Pte. Ltd.
          600 North Bridge Road
          #23-01 Parkview Square
          Singapore 188778



SIR MONEY: Court to Hear Wind-Up Petition on Nov. 22
----------------------------------------------------
A petition to wind up the operations of Sir Money Changer Pte. Ltd.
will be heard before the High Court of Singapore on Nov. 22, 2024,
at 10:00 a.m.

Ripple Markets Apac Pte. Ltd. filed the petition against the
company on Oct. 28, 2024.

The Petitioner's solicitors are:

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



TACHYON ALGOTRADING: Creditors' Proofs of Debt Due on Dec. 14
-------------------------------------------------------------
Creditors of Tachyon Algotrading Singapore Pte. Ltd. and Tachyon
Fund Global Pte. Ltd. are required to file their proofs of debt by
Dec. 14, 2024, to be included in the company's dividend
distribution.

Tachyon Algotrading Singapore commenced wind-up proceedings on Nov.
7, 2024.

Tachyon Fund Global commenced wind-up proceedings on Nov. 8, 2024.

The company's liquidators are:

          Mr. Paresh Tribhovan Jotangia
          Ms. Ho May Kee
          Grant Thornton Singapore
          8 Marina View, #40
          04/05 Asia Square Tower 1
          Singapore 018960





=====================
S O U T H   K O R E A
=====================

TERRAFORM LABS: Wu Case Withdrawn from Mediation
------------------------------------------------
Magistrate Judge Christopher J. Burke of the United States District
Court for the District of Delaware has determined that mediation is
not appropriate in the case captioned as REX WU, Appellant, v.
TERRAFORM LABS PTD, LTD, et al., Appellees, Civil Action No.
24-1080-GBW (D. Del.), and recommended that the assigned District
Judge issue an order withdrawing the matter from mediation and
setting the following appellate briefing schedule (agreed to by the
parties):

Appellant's Opening Brief: December 16, 2024
Appellees' Responsive Brief: January 30, 2025
Appellant's Reply Brief: March 3, 2025

A copy of the Court's decision dated November 4, 2024, is available
at https://urlcurt.com/u?l=RHeD2o

                       About Terraform Labs

Terraform Labs Pte. Ltd. -- https://www.terra.money/ -- is a
startup that created Terra, a blockchain protocol and payment
platform used for algorithmic stablecoins.  It was co-founded by Do
Kwon and Daniel Shin in 2018 in Seoul, South Korea.

Terraform Labs introduced its first cryptocurrency token, TerraUSD,
in 2019. Investment firms like Arrington Capital, Coinbase
Ventures, Galaxy Digital, and Lightspeed Venture Partners helped
Terraform Labs raise more than $200 million.

The collapse of the stablecoins TerraUSD (UST) and Luna in May 2022
caused the temporary suspension of the Terra network, wiping out
over $45 billion in market capitalization in a single week.

Both of Terra Form Labs' founders have encountered legal problems
as a result of the devaluation of the company's currency. In
September 2022, South Korean prosecutors filed a warrant for Do
Kwon's arrest. He was also added to Interpol's Red Notice list,
which urges other law enforcement to find and detain him.

Terraform Labs Pte. Ltd. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 24-10070) on Jan. 22,
2024. In the petition filed by Chris Amani, as chief executive
officer, the Debtor estimated assets and liabilities between $100
million and $500 million each.

The Debtor is represented by:

     Zachary I Shapiro, Esq.
     Richards, Layton & Finger, P.A.
     1 Wallich Street
     #37-01 Guoco Tower
     Singapore 078881





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

[*] BOND PRICING: For the Week Nov. 11, 2024 to Nov. 15, 2024
-------------------------------------------------------------
Issuer                  Coupon    Maturity      Currency    Price
------                  ------    --------      --------    -----


   AUSTRALIA
   ---------

ACN 113 874 712 PTY      13.25    02/15/18        USD       0.22
ACN 113 874 712 PTY      13.25    02/15/18        USD       0.22
VIRGIN AUSTRALIA HOL      7.88    10/15/21        USD       0.47
VIRGIN AUSTRALIA HOL      7.88    10/15/21        USD       0.47
VIRGIN AUSTRALIA HOL      8.25    05/30/23        AUD       0.31
VIRGIN AUSTRALIA HOL      8.08    03/05/24        AUD       0.30
VIRGIN AUSTRALIA HOL      8.00    11/26/24        AUD       0.28
VIRGIN AUSTRALIA HOL      8.13    11/15/24        USD       0.19
VIRGIN AUSTRALIA HOL      8.13    11/15/24        USD       0.19


   CHINA
   -----

ALETAI CITY JUJIN UR      7.73    10/26/24        CNY      25.06
ANHUI PINGTIANHU INV      7.50    08/13/26        CNY      42.29
ANHUI PINGTIANHU INV      7.50    08/13/26        CNY      40.00
ANLU CONSTRUCTION DE      7.80    11/28/26        CNY      64.48
ANLU CONSTRUCTION DE      7.80    11/28/26        CNY      60.00
ANNING DEVELOPMENT I      8.00    12/04/25        CNY      21.45
ANNING DEVELOPMENT I      8.00    12/04/25        CNY      21.03
ANNING DEVELOPMENT I      8.80    09/11/25        CNY      20.95
ANSHANG WANGTONG CON      7.50    05/06/26        CNY      41.96
ANSHANG WANGTONG CON      7.50    05/06/26        CNY      41.80
ANSHUN CITY XIXIU IN      8.00    01/29/26        CNY      41.58
ANSHUN CITY XIXIU IN      7.90    11/15/25        CNY      41.15
ANSHUN CITY XIXIU IN      7.90    11/15/25        CNY      40.00
ANSHUN TRANSPORTATIO      7.50    10/31/24        CNY      20.05
ANSHUN TRANSPORTATIO      7.50    10/31/24        CNY      20.03
ANYUE XINGAN CITY DE      7.50    05/06/26        CNY      41.86
ANYUE XINGAN CITY DE      7.50    01/30/25        CNY      20.29
ANYUE XINGAN CITY DE      7.50    01/30/25        CNY      20.27
BIJIE CITY ANFANG CO      7.80    01/18/26        CNY      41.63
BIJIE CITY ANFANG CO      7.80    01/18/26        CNY      41.60
BIJIE QIXINGGUAN DIS      8.05    08/16/25        CNY      20.86
BIJIE QIXINGGUAN DIS      8.05    08/16/25        CNY      20.00
BIJIE TIANHE URBAN C      8.05    12/03/25        CNY      41.29
BIJIE TIANHE URBAN C      8.05    12/03/25        CNY      41.00
BIJIE XINTAI INVESTM      7.80    11/01/24        CNY      20.06
BIJIE XINTAI INVESTM      7.80    11/01/24        CNY      20.04
CAOXIAN SHANG DU INV      7.80    10/28/26        CNY      63.12
CAOXIAN SHANG DU INV      7.80    10/28/26        CNY      63.07
CHANGDE DEYUAN INVES      7.70    06/11/25        CNY      20.70
CHANGDE DEYUAN INVES      7.70    06/11/25        CNY      20.69
CHANGDE DINGCHENG JI      7.58    10/19/25        CNY      40.99
CHANGDE DINGCHENG JI      7.58    10/19/25        CNY      40.96
CHENGDU GARDEN WATER      8.00    06/13/25        CNY      20.69
CHENGDU GARDEN WATER      8.00    06/13/25        CNY      20.00
CHISHUI CITY CONSTRU      8.50    01/18/26        CNY      41.66
CHISHUI CITY CONSTRU      8.50    01/18/26        CNY      41.61
CHONGQING HONGYE IND      7.50    12/24/26        CNY      63.37
CHONGQING JIANGLAI I      7.50    10/26/25        CNY      40.98
CHONGQING JIANGLAI I      7.50    10/26/25        CNY      40.00
CHONGQING NANCHUAN C      7.80    08/06/26        CNY      42.54
CHONGQING SHUANGFU C      7.50    09/09/26        CNY      42.77
CHONGQING THREE GORG      7.80    03/01/26        CNY      41.82
CHONGQING THREE GORG      7.80    03/01/26        CNY      40.00
CHONGQING TONGRUI AG      7.50    09/18/26        CNY      42.73
CHONGQING TONGRUI AG      7.50    09/18/26        CNY      40.00
CHONGQING WANSHENG E      7.50    03/27/25        CNY      20.73
CHONGQING WANSHENG E      7.50    03/27/25        CNY      20.46
CHONGQING YUDIAN STA      8.00    11/30/25        CNY      41.29
CHUYING AGRO-PASTORA      8.80    06/26/19        CNY       2.00
DALI URBAN DEVELOPME      8.00    12/25/25        CNY      41.87
DALI URBAN DEVELOPME      8.00    12/25/25        CNY      41.46
DAWA COUNTY CITY CON      7.80    01/30/26        CNY      41.54
DAWA COUNTY CITY CON      7.80    01/30/26        CNY      38.80
DAWU COUNTY URBAN CO      7.50    09/20/26        CNY      42.79
DAWU COUNTY URBAN CO      7.50    09/20/26        CNY      40.00
DING NAN CITY CONSTR      7.80    04/08/26        CNY      41.74
DING NAN CITY CONSTR      7.80    04/08/26        CNY      40.00
DUJIANGYAN NEW CITY       7.80    10/11/25        CNY      41.44
DUJIANGYAN NEW CITY       7.80    10/11/25        CNY      40.94
DUJIANGYAN NEW CITY       7.80    05/02/25        CNY      20.55
DUJIANGYAN NEW CITY       7.80    05/02/25        CNY      20.00
DUJIANGYAN XINGYAN I      7.50    11/01/26        CNY      62.99
FANGCHENG GANGSHI WE      7.93    12/25/25        CNY      41.37
FANGCHENG GANGSHI WE      7.95    10/11/25        CNY      41.03
FANGCHENG GANGSHI WE      7.93    12/25/25        CNY      40.00
FANGCHENG GANGSHI WE      7.95    10/11/25        CNY      40.00
FANTASIA GROUP CHINA      7.50    06/30/28        CNY      73.70
FANTASIA GROUP CHINA      7.80    06/30/28        CNY      44.53
FUJIAN FUSHENG GROUP      7.90    12/17/21        CNY      70.99
FUJIAN FUSHENG GROUP      7.90    11/19/21        CNY      60.00
FUZHOU LINCHUAN URBA      8.00    02/26/26        CNY      42.00
GANZHOU NANKANG DIST      8.00    01/23/26        CNY      41.65
GANZHOU NANKANG DIST      8.00    10/29/25        CNY      41.17
GANZHOU NANKANG DIST      8.00    09/27/25        CNY      41.09
GANZHOU NANKANG DIST      8.00    01/23/26        CNY      40.00
GANZHOU NANKANG DIST      8.00    10/29/25        CNY      40.00
GANZHOU NANKANG DIST      8.00    09/27/25        CNY      20.00
GANZHOU ZHANGGONG CO      7.80    10/16/25        CNY      42.68
GANZHOU ZHANGGONG CO      7.80    10/16/25        CNY      41.10
GOME APPLIANCE CO LT      7.80    12/21/24        CNY      37.00
GUANGAN XINHONG INVE      7.50    06/03/26        CNY      43.09
GUANGAN XINHONG INVE      7.50    06/03/26        CNY      42.01
GUANGDONG PEARL RIVE      7.50    10/26/26        CNY      19.23
GUANGXI BAISE EXPERI      7.59    01/08/26        CNY      41.36
GUANGXI BAISE EXPERI      7.60    12/24/25        CNY      41.21
GUANGXI BAISE EXPERI      7.60    12/24/25        CNY      40.00
GUANGXI BAISE EXPERI      7.59    01/08/26        CNY      39.39
GUANGXI CHONGZUO URB      8.50    09/26/25        CNY      21.12
GUANGXI CHONGZUO URB      8.50    09/26/25        CNY      21.09
GUANGXI NINGMING HUI      8.50    11/05/26        CNY      63.52
GUANGXI NINGMING HUI      8.50    11/05/26        CNY      62.76
GUANGXI NINGMING HUI      8.50    12/07/25        CNY      41.34
GUANGXI TIANDONG COU      7.50    06/04/27        CNY      40.00
GUANGYUAN CITY DEVEL      7.50    10/25/27        CNY      37.14
GUANGYUAN YUANQU CHU      7.50    07/15/26        CNY      74.42
GUANGYUAN YUANQU CON      7.50    12/23/26        CNY      63.21
GUANGYUAN YUANQU CON      7.50    10/30/26        CNY      62.18
GUANGYUAN YUANQU CON      7.50    12/23/26        CNY      60.00
GUANGYUAN YUANQU CON      7.50    10/30/26        CNY      60.00
GUANGZHOU FINELAND R     13.60    07/27/23        USD       0.37
GUCHENG CONSTRUCTION      7.88    04/27/25        CNY      20.63
GUCHENG CONSTRUCTION      7.88    04/27/25        CNY      20.00
GUIXI STATE OWNED HO      7.50    09/17/26        CNY      43.42
GUIXI STATE OWNED HO      7.50    09/17/26        CNY      42.53
GUIYANG BAIYUN INDUS      7.50    03/06/26        CNY      41.65
GUIYANG BAIYUN INDUS      8.30    03/21/25        CNY      20.51
GUIYANG BAIYUN INDUS      8.30    03/21/25        CNY      20.46
GUIYANG ECONOMIC DEV      7.50    04/30/26        CNY      41.89
GUIYANG ECONOMIC DEV      7.90    10/29/25        CNY      41.10
GUIYANG ECONOMIC DEV      7.90    10/29/25        CNY      40.90
GUIYANG ECONOMIC TEC      7.80    04/30/26        CNY      42.01
GUIYANG ECONOMIC TEC      7.80    04/30/26        CNY      41.96
GUIYANG HI-TECH HOLD      8.00    11/25/26        CNY      62.34
GUIYANG HI-TECH HOLD      8.00    11/25/26        CNY      60.27
GUIZHOU CHANGSHUN CO      8.50    03/19/26        CNY      42.10
GUIZHOU CHANGSHUN CO      8.50    03/19/26        CNY      40.00
GUIZHOU EAST LAKE CI      8.00    12/07/25        CNY      41.33
GUIZHOU EAST LAKE CI      8.00    12/07/25        CNY      40.93
GUIZHOU GUIAN DEVELO      7.50    01/14/25        CNY      15.25
GUIZHOU HONGGUO ECON      7.80    02/08/25        CNY      20.32
GUIZHOU HONGGUO ECON      7.80    11/24/24        CNY      20.12
GUIZHOU HONGGUO ECON      7.80    11/24/24        CNY      10.50
GUIZHOU JINFENGHUANG      7.60    08/19/26        CNY      42.53
GUIZHOU SHUANGLONG A      7.50    04/20/30        CNY      60.00
GUIZHOU SHUICHENG EC      7.50    10/26/25        CNY      40.97
GUIZHOU SHUICHENG EC      7.50    10/26/25        CNY      19.50
GUIZHOU SHUICHENG WA      8.00    11/27/25        CNY      41.08
GUIZHOU SHUICHENG WA      8.00    11/27/25        CNY      41.04
GUIZHOU ZHONGSHAN DE      8.00    03/18/29        CNY      70.00
HAIAN URBAN DEMOLITI      8.00    12/21/25        CNY      41.43
HAIAN URBAN DEMOLITI      7.74    05/02/25        CNY      20.55
HENGYANG CITY AND UR      7.80    12/14/24        CNY      20.20
HENGYANG CITY AND UR      7.80    12/14/24        CNY      20.18
HONGAN URBAN DEVELOP      7.50    12/04/24        CNY      20.14
HONGAN URBAN DEVELOP      7.50    12/04/24        CNY      20.00
HUAINAN SHAN NAN DEV      7.94    04/01/26        CNY      42.50
HUAINAN SHAN NAN DEV      7.94    04/01/26        CNY      40.00
HUAINAN URBAN CONSTR      7.58    02/12/26        CNY      41.79
HUAINAN URBAN CONSTR      7.50    03/20/25        CNY      20.42
HUAINAN URBAN CONSTR      7.50    03/20/25        CNY      20.00
HUBEI DAYE LAKE HIGH      7.50    04/01/26        CNY      41.76
HUBEI DAYE LAKE HIGH      7.50    04/01/26        CNY      40.75
HUBEI JIAKANG CONSTR      7.80    12/19/25        CNY      41.18
HUBEI YILING ECONOMI      7.50    03/28/26        CNY      41.80
HUBEI YILING ECONOMI      7.50    03/28/26        CNY      40.00
HUNAN CHUZHISHENG HO      7.50    03/27/26        CNY      41.94
HUNAN CHUZHISHENG HO      7.50    03/27/26        CNY      40.00
HUNAN MEISHAN RESOUR      8.00    03/21/26        CNY      41.98
HUNAN MEISHAN RESOUR      8.00    03/21/26        CNY      40.00
HUNAN TIANYI RONGTON      8.00    10/24/25        CNY      41.18
HUNAN TIANYI RONGTON      8.00    10/24/25        CNY      41.14
HUNAN TIANYI RONGTON      7.50    09/17/25        CNY      20.91
HUNAN XUANDA CONSTRU      7.50    01/24/26        CNY      41.49
HUNAN XUANDA CONSTRU      7.50    01/23/26        CNY      41.49
HUNAN XUANDA CONSTRU      7.50    01/24/26        CNY      40.00
HUNAN XUANDA CONSTRU      7.50    01/23/26        CNY      40.00
HUZHOU NEW CITY INVE      7.50    11/23/24        CNY      20.09
HUZHOU NEW CITY INVE      7.50    11/23/24        CNY      20.00
HUZHOU WUXING NANTAI      7.90    09/20/25        CNY      21.00
JIA COUNTY DEVELOPME      7.50    01/21/27        CNY      63.29
JIA COUNTY DEVELOPME      7.50    01/21/27        CNY      58.00
JIAHE ZHUDU DEVELOPM      7.50    03/13/25        CNY      20.40
JIAHE ZHUDU DEVELOPM      7.50    03/13/25        CNY      20.00
JIANGSU YANGKOU PORT      7.60    08/17/25        CNY      22.50
JIANGSU YANGKOU PORT      7.60    08/17/25        CNY      20.77
JIANGSU ZHONGNAN CON      7.80    03/17/29        CNY      44.19
JIANGXI HUANGGANGSHA      7.90    01/25/26        CNY      41.27
JIANGXI HUANGGANGSHA      7.90    10/08/25        CNY      41.01
JIANGXI HUANGGANGSHA      7.90    10/08/25        CNY      40.90
JIANGXI JIHU DEVELOP      7.50    04/10/25        CNY      20.46
JIANGXI JIHU DEVELOP      7.50    04/10/25        CNY      20.00
JIANGXI TONGGU CITY       7.50    04/21/27        CNY      64.23
JIANGYOU XINGYI PARK      7.50    05/07/26        CNY      52.33
JIANGYOU XINGYI PARK      7.80    12/17/25        CNY      51.56
JIANLI FENGYUAN CITY      7.50    01/14/26        CNY      41.35
JIANLI FENGYUAN CITY      7.50    01/14/26        CNY      40.00
JILIN ECONOMY TECHNO      8.00    03/26/28        CNY      62.97
JILIN ECONOMY TECHNO      8.00    03/26/28        CNY      59.21
JINING NEW CITY DEVE      7.60    03/23/25        CNY      20.42
JINING NEW CITY DEVE      7.60    03/23/25        CNY      20.00
JINXIANG COUNTY CITY      7.50    03/20/26        CNY      41.76
JINXIANG COUNTY CITY      7.50    03/20/26        CNY      40.92
JINZHOU CIHANG GROUP      9.00    04/05/20        CNY      33.63
KAILI GUIZHOU TOWN C      7.98    03/30/27        CNY      64.47
KAILI GUIZHOU TOWN C      7.98    03/30/27        CNY      64.42
KAIYUAN CITY XINGYUA      7.50    09/22/27        CNY      65.11
LAOTING INVESTMENT G      7.50    04/11/26        CNY      41.86
LAOTING INVESTMENT G      7.50    04/11/26        CNY      39.80
LIJIN CITY CONSTRUCT      7.50    04/26/26        CNY      41.94
LIJIN CITY CONSTRUCT      7.50    12/20/25        CNY      41.30
LIJIN CITY CONSTRUCT      7.50    04/26/26        CNY      40.00
LIJIN CITY CONSTRUCT      7.50    12/20/25        CNY      40.00
LINFEN YAODU DISTRIC      7.50    09/19/25        CNY      20.87
LINYI COUNTY CITY DE      7.78    03/21/25        CNY      20.44
LINYI COUNTY CITY DE      7.78    03/21/25        CNY      20.00
LINYI ZHENDONG CONST      7.50    11/26/25        CNY      41.43
LINYI ZHENDONG CONST      7.50    12/06/25        CNY      41.17
LINYI ZHENDONG CONST      7.50    11/26/25        CNY      41.01
LINYI ZHENDONG CONST      7.50    12/06/25        CNY      40.63
LIUPANSHUI AGRICULTU      8.00    04/26/27        CNY      59.74
LIUPANSHUI AGRICULTU      8.00    04/26/27        CNY      59.69
LONGNAN ECO&TECH DEV      7.50    07/26/26        CNY      42.30
LUANCHUAN COUNTY TIA      8.50    01/23/26        CNY      41.69
LUANCHUAN COUNTY TIA      8.50    01/23/26        CNY      40.00
LUOHE ECONOMIC DEVEL      7.50    12/18/25        CNY      41.32
LUOHE ECONOMIC DEVEL      7.50    12/18/25        CNY      41.26
LUOYANG XIYUAN STATE      7.80    01/29/26        CNY      41.50
LUOYANG XIYUAN STATE      7.80    01/29/26        CNY      41.40
LUOYANG XIYUAN STATE      7.50    11/15/25        CNY      41.39
LUOYANG XIYUAN STATE      7.50    11/15/25        CNY      40.96
MAANSHAN NINGBO INVE      7.50    04/18/26        CNY      41.80
MAANSHAN NINGBO INVE      7.80    11/29/25        CNY      41.38
MAANSHAN NINGBO INVE      7.80    11/29/25        CNY      41.23
MAANSHAN NINGBO INVE      7.50    04/18/26        CNY      16.00
MEISHAN CITY DONGPO       8.00    01/03/26        CNY      41.48
MEISHAN CITY DONGPO       8.00    01/03/26        CNY      40.00
MEISHAN CITY DONGPO       8.08    08/16/25        CNY      20.89
MEISHAN CITY DONGPO       8.08    08/16/25        CNY      20.00
MEISHAN HONGSHUN PAR      7.50    12/10/25        CNY      51.60
MENGZHOU INVESTMENT       8.00    11/06/25        CNY      41.13
MENGZHOU INVESTMENT       8.00    11/06/25        CNY      40.00
MENGZHOU INVESTMENT       8.00    09/03/25        CNY      20.90
MENGZHOU INVESTMENT       8.00    09/03/25        CNY      20.00
MENGZI CITY DEVELOPM      8.00    03/25/26        CNY      41.88
MIAN YANG ECONOMIC D      8.00    09/29/26        CNY      42.67
MIAN YANG ECONOMIC D      8.20    03/15/26        CNY      41.75
MIAN YANG ECONOMIC D      8.00    09/29/26        CNY      40.00
MIAN YANG ECONOMIC D      8.20    03/15/26        CNY      40.00
MIANYANG ANZHOU INVE      7.90    11/25/26        CNY      63.32
MIANYANG ANZHOU INVE      7.90    11/25/26        CNY      60.00
MIANYANG ANZHOU INVE      8.10    11/22/25        CNY      41.27
MIANYANG ANZHOU INVE      8.10    11/22/25        CNY      40.00
MIANYANG ANZHOU INVE      8.10    05/04/25        CNY      20.60
MIANYANG ANZHOU INVE      8.10    05/04/25        CNY      20.25
MIANYANG HUIDONG INV      8.10    04/28/25        CNY      20.57
MIANYANG HUIDONG INV      8.10    02/10/25        CNY      20.40
MIANZHU CITY JINSHEN      7.87    12/18/25        CNY      41.37
MIANZHU CITY JINSHEN      7.87    12/18/25        CNY      41.29
MILE AGRICULTURAL IN      7.60    02/27/26        CNY      41.60
MILE AGRICULTURAL IN      8.00    10/25/25        CNY      41.01
MILE AGRICULTURAL IN      7.60    02/27/26        CNY      41.00
MUDANJIANG LONGSHENG      7.50    09/27/25        CNY      20.89
NANCHONG JIALING DEV      7.98    05/23/25        CNY      20.65
NANCHONG JIALING DEV      7.80    12/12/24        CNY      20.20
NANCHONG JIALING DEV      7.80    12/12/24        CNY      20.18
NANCHONG JIALING DEV      7.98    05/23/25        CNY      20.00
NINGXIA SHENG YAN IN      7.50    09/27/28        CNY      42.45
PANJIN CITY SHUANGTA      8.50    01/29/26        CNY      41.76
PANJIN CITY SHUANGTA      8.50    01/29/26        CNY      41.72
PANJIN CITY SHUANGTA      8.70    12/20/25        CNY      41.60
PANJIN CITY SHUANGTA      8.70    12/20/25        CNY      41.56
PANJIN LIAODONGWAN Z      7.50    12/28/26        CNY      63.31
PEIXIAN ECONOMIC DEV      7.51    11/04/26        CNY      63.00
PEIXIAN ECONOMIC DEV      7.51    11/04/26        CNY      60.00
PENGSHAN DEVELOPMENT      7.98    05/03/25        CNY      21.59
PENGSHAN DEVELOPMENT      7.98    05/03/25        CNY      20.58
PENGZE CITY DEVELOPM      7.60    08/31/25        CNY      20.91
PENGZE CITY DEVELOPM      7.60    08/31/25        CNY      20.85
PINGLIANG CHENGXIANG      7.80    03/29/26        CNY      41.86
PINGLIANG CHENGXIANG      7.80    03/29/26        CNY      41.67
PUDING YELANG STATE-      8.00    03/13/25        CNY      20.45
PUDING YELANG STATE-      7.79    11/13/24        CNY      20.08
PUDING YELANG STATE-      7.79    11/13/24        CNY      20.00
PUER CITY SI MAO GUO      7.50    03/14/26        CNY      41.91
PUER CITY SI MAO GUO      7.50    03/14/26        CNY      41.63
QIANDONGNAN TRANSPOR      8.00    01/15/27        CNY      63.81
QIANDONGNAN TRANSPOR      8.00    01/15/27        CNY      63.76
QIANNANZHOU INVESTME      8.00    01/02/26        CNY      41.44
QIANNANZHOU INVESTME      8.00    01/02/26        CNY      40.80
QIANXINAN AUTONOMOUS      8.00    06/22/27        CNY      63.70
QIANXINAN AUTONOMOUS      8.00    06/22/27        CNY      63.43
QIANXINAN PREFECTURE      7.99    06/10/27        CNY      64.96
QIANXINAN PREFECTURE      7.99    06/10/27        CNY      60.00
QIANXINAN WATER RESO      7.50    09/25/27        CNY      65.33
QIANXINAN WATER RESO      7.50    09/25/27        CNY      65.28
QINGHAI PROVINCIAL I      7.88    03/22/21        USD       1.50
QINGZHEN CITY CONSTR      7.50    03/18/26        CNY      41.74
QINGZHEN CITY CONSTR      7.50    03/18/26        CNY      41.74
QINGZHOU HONGYUAN PU      7.60    06/17/27        CNY      48.35
QINZHOU BINHAI NEW C      7.70    08/15/26        CNY      42.65
QINZHOU BINHAI NEW C      7.70    08/15/26        CNY      42.61
QUJING CITY QILIN DI      8.50    01/21/26        CNY      41.70
QUJING CITY QILIN DI      8.50    01/21/26        CNY      40.00
RENHUAI WATER INVEST      8.00    12/26/25        CNY      40.68
RENHUAI WATER INVEST      7.98    07/26/25        CNY      20.79
RENHUAI WATER INVEST      7.98    02/24/25        CNY      20.22
RUCHENG SHUNXING INV      7.50    01/07/26        CNY      41.41
RUCHENG SHUNXING INV      7.50    01/07/26        CNY      40.00
RUDONG NEW WORLD INV      7.50    12/06/26        CNY      63.33
RUDONG NEW WORLD INV      7.50    12/06/26        CNY      60.00
RUILI RENLONG INVEST      8.00    09/20/26        CNY      42.79
RUILI RENLONG INVEST      8.00    09/20/26        CNY      41.65
SHAANXI XIYUE HUASHA      7.50    12/27/26        CNY      63.21
SHAANXI XIYUE HUASHA      7.50    12/27/26        CNY      62.80
SHANDONG HONGHE HOLD      7.50    01/29/26        CNY      41.42
SHANDONG OCEAN CULTU      7.50    04/25/26        CNY      41.75
SHANDONG OCEAN CULTU      7.50    03/28/26        CNY      41.70
SHANDONG RENCHENG RO      7.50    01/23/26        CNY      41.40
SHANDONG RUYI TECHNO      7.90    09/18/23        CNY      52.10
SHANDONG SANXING GRO      7.90    08/30/27        CNY      58.00
SHANDONG URBAN CAPIT      7.50    04/12/26        CNY      41.73
SHANDONG URBAN CAPIT      7.50    04/12/26        CNY      40.00
SHANGLI INVESTMENT C      7.80    01/22/26        CNY      41.35
SHANGLI INVESTMENT C      7.80    01/22/26        CNY      40.49
SHANGLI INVESTMENT C      7.50    06/01/25        CNY      20.63
SHANGLI INVESTMENT C      7.50    06/01/25        CNY      20.58
SHANGRAO GUANGXIN UR      7.95    07/24/25        CNY      20.68
SHANGRAO GUANGXIN UR      7.95    07/24/25        CNY      20.67
SHANXI JINZHONG STAT      7.50    05/05/26        CNY      41.95
SHAOYANG SAISHUANGQI      8.00    11/28/25        CNY      41.26
SHAOYANG SAISHUANGQI      8.00    11/28/25        CNY      40.00
SHEHONG STATE OWNED       7.60    10/25/25        CNY      41.00
SHEHONG STATE OWNED       7.60    10/25/25        CNY      40.00
SHEHONG STATE OWNED       7.60    10/22/25        CNY      40.00
SHEHONG STATE OWNED       7.60    10/22/25        CNY      20.95
SHEHONG STATE OWNED       7.50    08/22/25        CNY      20.79
SHEHONG STATE OWNED       7.50    08/22/25        CNY      20.00
SHENWU ENVIRONMENTAL      9.00    03/14/19        CNY      12.00
SHEYANG URBAN CONSTR      7.80    11/27/24        CNY      20.13
SHEYANG URBAN CONSTR      7.80    11/27/24        CNY      20.11
SHIFANG CITY NATIONA      8.00    12/05/25        CNY      41.28
SHIFANG CITY NATIONA      8.00    12/05/25        CNY      40.00
SHIYAN CITY CHENGTOU      7.80    02/13/26        CNY      45.07
SHUANGYASHAN DADI CI      8.50    12/16/26        CNY      63.93
SHUANGYASHAN DADI CI      8.50    12/16/26        CNY      63.87
SHUANGYASHAN DADI CI      8.50    08/26/26        CNY      43.04
SHUANGYASHAN DADI CI      8.50    08/26/26        CNY      43.01
SHUANGYASHAN DADI CI      8.50    04/30/26        CNY      42.34
SHUANGYASHAN DADI CI      8.50    04/30/26        CNY      42.31
SHUOZHOU INVESTMENT       7.50    10/23/25        CNY      41.60
SHUOZHOU INVESTMENT       7.80    12/25/25        CNY      41.49
SHUOZHOU INVESTMENT       7.80    12/25/25        CNY      41.45
SHUOZHOU INVESTMENT       7.50    10/23/25        CNY      40.91
SICHUAN CHENG'A DEVE      7.50    11/29/24        CNY      20.12
SICHUAN CHENG'A DEVE      7.50    11/06/24        CNY      20.06
SICHUAN CHENG'A DEVE      7.50    11/29/24        CNY      20.00
SICHUAN CHENG'A DEVE      7.50    11/06/24        CNY      20.00
SICHUAN COAL INDUSTR      7.70    01/09/18        CNY      45.00
SICHUAN LANGUANG DEV      7.50    07/23/22        CNY      42.00
SICHUAN LANGUANG DEV      7.50    08/12/21        CNY      12.63
SICHUAN LANGUANG DEV      7.50    07/11/21        CNY      12.63
SIYANG JIADING INDUS      7.50    12/14/25        CNY      41.86
SIYANG JIADING INDUS      7.50    12/14/25        CNY      41.28
SIYANG JIADING INDUS      7.50    04/27/25        CNY      20.53
SIYANG JIADING INDUS      7.50    04/27/25        CNY      20.51
TAHOE GROUP CO LTD        7.50    09/19/21        CNY       2.20
TAHOE GROUP CO LTD        8.50    08/02/21        CNY       2.20
TAHOE GROUP CO LTD        7.50    10/10/20        CNY       2.20
TAHOE GROUP CO LTD        7.50    08/15/20        CNY       1.90
TAIXING CITY CHENGXI      7.60    04/24/26        CNY      42.02
TAIXING CITY CHENGXI      7.80    03/05/26        CNY      41.83
TAIXING CITY CHENGXI      7.60    04/04/26        CNY      41.81
TAIXING CITY CHENGXI      7.60    04/24/26        CNY      40.00
TAIXING CITY CHENGXI      7.60    04/04/26        CNY      40.00
TAIXING CITY CHENGXI      7.80    03/05/26        CNY      40.00
TAIXING XINGHUANG IN      8.50    11/15/25        CNY      41.06
TAIXING XINGHUANG IN      8.50    11/15/25        CNY      39.59
TAIZHOU FENGCHENGHE       7.90    12/29/24        CNY      20.21
TAIZHOU FENGCHENGHE       7.90    12/29/24        CNY      20.00
TAIZHOU HUACHENG MED      8.50    12/26/25        CNY      41.64
TAIZHOU HUACHENG MED      8.50    12/26/25        CNY      40.00
TANCHENG COUNTY CITY      7.50    04/09/26        CNY      41.77
TANCHENG COUNTY CITY      7.50    04/09/26        CNY      40.00
TANGSHAN HOLDING DEV      7.60    05/16/25        CNY      20.45
TAOYUAN COUNTY CONST      8.00    10/17/26        CNY      63.14
TAOYUAN COUNTY CONST      8.00    10/17/26        CNY      60.00
TAOYUAN COUNTY CONST      7.50    09/11/26        CNY      42.42
TAOYUAN COUNTY ECONO      8.20    09/06/25        CNY      21.25
TAOYUAN COUNTY ECONO      8.20    09/06/25        CNY      20.97
TEMPUS GROUP CO LTD       7.50    06/07/20        CNY       2.00
TENGCHONG SHIXINGBAN      7.50    05/05/26        CNY      52.79
TIANJIN REAL ESTATE       7.70    03/16/21        CNY      21.49
TONGCHENG CITY CONST      7.50    07/23/25        CNY      20.75
TONGCHENG CITY CONST      7.50    07/23/25        CNY      20.00
TONGHUA FENGYUAN INV      7.80    04/30/26        CNY      42.05
TONGHUA FENGYUAN INV      7.80    04/30/26        CNY      41.70
TONGHUA FENGYUAN INV      8.00    12/18/25        CNY      41.40
TONGHUA FENGYUAN INV      8.00    12/18/25        CNY      40.00
TONGREN WATER GROUP       8.00    11/29/28        CNY      74.75
TONGXIANG CHONGDE IN      7.88    11/29/25        CNY      41.70
TONGXIANG CHONGDE IN      7.88    11/29/25        CNY      41.21
TUNGHSU GROUP CO LTD      8.18    10/25/21        CNY      22.00
URUMQI ECO TECH DEVE      7.50    10/19/25        CNY      40.87
URUMQI ECO TECH DEVE      7.50    10/19/25        CNY      40.00
WEIHAI LANCHUANG CON      7.70    10/11/25        CNY      40.90
WEIHAI LANCHUANG CON      7.70    10/11/25        CNY      40.85
WEIHAI WENDENG URBAN      7.70    05/02/28        CNY      64.57
WEINAN CITY INDUSTRI      7.50    06/30/27        CNY      64.26
WEINAN CITY INDUSTRI      7.50    06/30/27        CNY      60.00
WEINAN CITY INDUSTRI      7.50    04/28/26        CNY      41.78
WEINAN CITY INDUSTRI      7.50    04/28/26        CNY      40.00
WINTIME ENERGY GROUP      7.50    04/04/21        CNY      43.63
WINTIME ENERGY GROUP      7.90    03/29/21        CNY      43.63
WINTIME ENERGY GROUP      7.90    12/22/20        CNY      43.63
WINTIME ENERGY GROUP      7.50    12/06/20        CNY      43.63
WINTIME ENERGY GROUP      7.50    11/16/20        CNY      43.63
WINTIME ENERGY GROUP      7.70    11/15/20        CNY      43.63
WUSU CITY XINGRONG C      7.50    10/25/25        CNY      41.04
WUSU CITY XINGRONG C      7.50    10/25/25        CNY      40.00
WUXUE URBAN CONSTRUC      7.50    04/12/26        CNY      41.78
WUXUE URBAN CONSTRUC      7.50    04/12/26        CNY      40.00
WUZHOU CANGHAI CONST      8.00    05/31/28        CNY      65.23
WUZHOU CITY CONSTRUC      7.90    03/26/29        CNY      73.20
XIAN LINTONG URBAN I      7.69    04/22/26        CNY      41.84
XIAN LINTONG URBAN I      7.69    04/22/26        CNY      40.00
XIFENG COUNTY URBAN       8.00    03/14/26        CNY      41.15
XINFENG COUNTY URBAN      7.80    04/16/26        CNY      42.12
XINFENG COUNTY URBAN      7.80    04/16/26        CNY      41.88
XINFENG COUNTY URBAN      7.80    12/05/25        CNY      41.35
XINFENG COUNTY URBAN      7.80    12/05/25        CNY      40.00
XINGYI XINHENG URBAN      8.00    11/21/25        CNY      41.17
XINGYI XINHENG URBAN      7.90    01/31/25        CNY      20.28
XINGYI XINHENG URBAN      7.90    01/31/25        CNY      20.00
XINPING URBAN DEVELO      7.70    01/24/26        CNY      41.51
XINYU CITY YUSHUI DI      7.50    09/24/26        CNY      42.77
XIPING COUNTY INDUST      7.50    12/26/24        CNY      20.20
XIPING COUNTY INDUST      7.50    12/26/24        CNY      20.00
XIUSHAN HUAXING ENTE      7.50    09/25/25        CNY      20.93
XIUSHAN HUAXING ENTE      7.50    09/25/25        CNY      20.91
XUZHOU CITY JIAWANG       7.98    05/06/26        CNY      42.11
XUZHOU CITY JIAWANG       7.88    01/28/26        CNY      40.65
XUZHOU CITY JIAWANG       7.88    01/28/26        CNY      40.58
XUZHOU CITY JIAWANG       7.98    05/06/26        CNY      40.50
YANCHENG URBANIZATIO      7.50    03/04/27        CNY      64.03
YANGLING URBAN RURAL      7.80    06/19/26        CNY      42.35
YANGLING URBAN RURAL      7.80    02/20/26        CNY      41.68
YANGLING URBAN RURAL      7.80    06/19/26        CNY      40.00
YANGLING URBAN RURAL      7.80    02/20/26        CNY      40.00
YIBIN NANXI CAIYUAN       8.10    11/28/25        CNY      41.49
YIBIN NANXI CAIYUAN       8.10    11/28/25        CNY      41.33
YIBIN NANXI CAIYUAN       8.10    07/24/25        CNY      20.77
YIBIN NANXI CAIYUAN       8.10    07/24/25        CNY      20.00
YICHANG CHUANGYUAN H      7.80    11/06/25        CNY      41.06
YINGKOU BEIHAI NEW C      7.98    01/25/25        CNY      20.33
YINGKOU BEIHAI NEW C      7.98    01/25/25        CNY      20.31
YINGTAN JUNENG INVES      8.00    05/06/26        CNY      42.24
YINGTAN JUNENG INVES      8.00    05/06/26        CNY      40.00
YIYANG COUNTY CITY C      7.90    11/05/25        CNY      42.01
YIYANG COUNTY CITY C      7.90    11/05/25        CNY      41.12
YIYANG COUNTY CITY C      7.50    06/07/25        CNY      20.56
YIYANG COUNTY CITY C      7.50    06/07/25        CNY      20.00
YIYANG LONGLING CONS      7.60    01/23/26        CNY      41.37
YIYANG LONGLING CONS      7.60    01/23/26        CNY      40.30
YIYUAN HONGDING ASSE      7.50    08/17/25        CNY      21.15
YIYUAN HONGDING ASSE      7.50    08/17/25        CNY      20.73
YONGAN STATE-OWNED A      8.50    11/26/25        CNY      41.27
YONGAN STATE-OWNED A      8.50    11/26/25        CNY      40.00
YONGCHENG COAL & ELE      7.50    02/02/21        CNY      39.88
YONGXIU CITY CONSTRU      7.80    08/27/25        CNY      20.80
YONGXIU CITY CONSTRU      7.50    05/02/25        CNY      20.44
YONGXIU CITY CONSTRU      7.80    08/27/25        CNY      20.00
YONGXIU CITY CONSTRU      7.50    05/02/25        CNY      20.00
YOUYANG COUNTY TAOHU      7.50    09/28/25        CNY      21.15
YOUYANG COUNTY TAOHU      7.50    09/28/25        CNY      20.89
YUANJIANG CITY CONST      7.50    01/18/26        CNY      41.47
YUANJIANG CITY CONST      7.50    01/18/26        CNY      41.43
YUDU ZHENXING INVEST      7.50    05/03/25        CNY      20.53
YUDU ZHENXING INVEST      7.50    05/03/25        CNY      20.49
YUEYANG CITY JUNSHAN      7.96    03/13/27        CNY      64.14
YUEYANG CITY JUNSHAN      7.96    03/13/27        CNY      60.51
YUEYANG CITY JUNSHAN      7.96    04/23/26        CNY      41.88
YUEYANG CITY JUNSHAN      7.96    04/23/26        CNY      40.00
YUEYANG HUILIN INVES      7.50    12/23/26        CNY      63.23
YUEYANG HUILIN INVES      7.50    12/23/26        CNY      60.00
YUSHEN ENERGY DEVELO      7.50    05/07/27        CNY      64.28
YUSHEN ENERGY DEVELO      7.50    05/07/27        CNY      60.00
YUTAI XINDA ECONOMIC      7.50    04/10/26        CNY      41.78
ZHANGJIAJIE LOULI TO      7.50    03/26/26        CNY      41.78
ZHANGJIAJIE LOULI TO      7.50    03/26/26        CNY      41.78
ZHANGZI NATIONAL OWN      7.50    10/18/26        CNY      62.73
ZHANGZI NATIONAL OWN      7.50    10/18/26        CNY      60.00
ZHEJIANG CHANGXING H      7.50    05/16/26        CNY      41.93
ZHEJIANG CHANGXING H      7.50    05/16/26        CNY      41.60
ZHEJIANG CHANGXING H      7.50    12/26/25        CNY      41.26
ZHEJIANG CHANGXING H      7.50    12/26/25        CNY      40.00
ZHEJIANG HUZHOU NANX      7.80    08/21/25        CNY      21.88
ZHEJIANG WUYI CITY C      8.00    12/21/25        CNY      41.44
ZHEJIANG WUYI CITY C      8.00    12/21/25        CNY      41.41
ZHEJIANG WUYI CITY C      8.00    08/10/25        CNY      20.89
ZHEJIANG WUYI CITY C      8.00    08/10/25        CNY      20.00
ZHONGHONG HOLDING CO      8.00    07/04/19        CNY       2.75
ZHONGTIAN FINANCIAL       8.50    08/16/27        CNY      31.04
ZHONGXIANG CITY CONS      7.50    07/05/26        CNY      42.36
ZHONGXIANG CITY CONS      7.50    07/05/26        CNY      40.00
ZHOUSHAN ISLANDS NEW      7.50    01/30/27        CNY      59.38
ZHOUSHAN ISLANDS NEW      7.50    01/30/27        CNY      55.00
ZHUZHOU HI-TECH AUTO      8.00    08/14/25        CNY      26.05
ZIGUI COUNTY CHUYUAN      7.80    02/12/28        CNY      65.11
ZIGUI COUNTY CHUYUAN      7.80    02/12/28        CNY      60.00
ZIYANG KAILI INVESTM      8.00    02/14/26        CNY      41.64
ZUNYI BOZHOU URBAN C      7.85    10/24/24        CNY      20.06
ZUNYI BOZHOU URBAN C      7.85    10/24/24        CNY      20.04
ZUNYI ROAD & BRIDGE       8.00    05/08/29        CNY      71.60


   HONG KONG
   ---------

CHINA SOUTH CITY HOL      9.00    04/12/24        USD      28.58
CHINA SOUTH CITY HOL      9.00    06/26/24        USD      28.25
CHINA SOUTH CITY HOL      9.00    12/11/24        USD      27.72
CHINA SOUTH CITY HOL      9.00    10/09/24        USD      27.72
HAINAN AIRLINES HONG     12.00    10/29/21        USD       1.92
HONGKONG IDEAL INVES     14.75    10/08/22        USD       1.83
YANGO JUSTICE INTERN      8.25    11/25/23        USD       0.52
YANGO JUSTICE INTERN     10.25    09/15/22        USD       0.45
YANGO JUSTICE INTERN      7.50    04/15/24        USD       0.36
YANGO JUSTICE INTERN      9.25    04/15/23        USD       0.16
YANGO JUSTICE INTERN      7.50    02/17/25        USD       0.16
YANGO JUSTICE INTERN     10.00    02/12/23        USD       0.14
YANGO JUSTICE INTERN      7.88    09/04/24        USD       0.11
YANGO JUSTICE INTERN     10.25    03/18/22        USD       0.01
ZENSUN ENTERPRISES L     12.50    04/23/24        USD       5.51
ZENSUN ENTERPRISES L     12.50    09/13/23        USD       4.69


   INDONESIA
   ---------

WIJAYA KARYA PERSERO      9.10    03/03/26        IDR      73.94
WIJAYA KARYA PERSERO      9.10    03/03/26        IDR      73.65
WIJAYA KARYA PERSERO      8.50    03/03/26        IDR      73.18
WIJAYA KARYA PERSERO      8.50    03/03/26        IDR      73.18
WIJAYA KARYA PERSERO      8.55    09/08/26        IDR      68.45
WIJAYA KARYA PERSERO      8.55    09/08/26        IDR      68.17
WIJAYA KARYA PERSERO     10.90    11/03/29        IDR      67.77
WIJAYA KARYA PERSERO     10.90    11/03/29        IDR      67.77
WIJAYA KARYA PERSERO     10.50    11/03/27        IDR      66.67
WIJAYA KARYA PERSERO     10.50    11/03/27        IDR      66.67
WIJAYA KARYA PERSERO      9.75    03/03/28        IDR      64.62
WIJAYA KARYA PERSERO      9.75    03/03/28        IDR      64.43
WIJAYA KARYA PERSERO      9.85    12/18/27        IDR      64.36
WIJAYA KARYA PERSERO      7.75    02/18/27        IDR      64.30
WIJAYA KARYA PERSERO      9.85    12/18/27        IDR      64.00
WIJAYA KARYA PERSERO      7.75    02/18/27        IDR      63.92
WIJAYA KARYA PERSERO      9.25    09/08/28        IDR      62.73
WIJAYA KARYA PERSERO      9.25    09/08/28        IDR      62.67
WIJAYA KARYA PERSERO      8.30    02/18/29        IDR      60.15
WIJAYA KARYA PERSERO      8.30    02/18/29        IDR      60.09
WIJAYA KARYA PERSERO      8.60    12/18/25        IDR      51.27


   INDIA
   -----

AVANTI FINANCE PVT L      9.25    08/29/25        INR      57.69
BHARAT SANCHAR NIGAM      7.55    03/20/34        INR      69.53
EARLYSALARY SERVICES     11.75    03/18/25        INR      68.97
IIFL SAMASTA FINANCE     10.75    02/24/25        INR      25.14
IKF FINANCE LTD          10.60    03/27/25        INR      37.52
MAHANAGAR TELEPHONE       7.51    03/06/34        INR      51.40
PIRAMAL CAPITAL & HO      8.50    04/18/23        INR      34.25
SHRIRAM FINANCE LTD       8.55    04/28/28        INR      62.71


   MALAYSIA
   --------

CAPITAL A BHD             8.00    12/29/28        MYR       0.89


   PHILIPPINES
   -----------

BAYAN TELECOMMUNICAT     15.00    07/15/06        USD      15.22
BAYAN TELECOMMUNICAT     15.00    07/15/06        USD      15.22


   SINGAPORE
   ---------

BAKRIE TELECOM PTE L     11.50    05/07/15        USD       0.68
BLD INVESTMENTS PTE       8.63    03/23/15        USD       6.75
DAVOMAS INTERNATIONA     11.00    05/09/11        USD       0.33
DAVOMAS INTERNATIONA     11.00    05/09/11        USD       0.33
DAVOMAS INTERNATIONA     11.00    12/08/14        USD       0.33
DAVOMAS INTERNATIONA     11.00    12/08/14        USD       0.33
ENERCOAL RESOURCES P      9.25    08/05/14        USD      45.75
ITNL OFFSHORE PTE LT      7.50    01/18/21        CNY      21.47
MICLYN EXPRESS OFFSH      8.75    11/25/18        USD       0.83
NOMURA INTERNATIONAL      7.65    10/04/37        AUD      66.09
NOMURA INTERNATIONAL     19.50    08/28/28        TRY      64.78
ORO NEGRO DRILLING P      7.50    01/24/24        USD       0.51
RICKMERS MARITIME         8.45    05/15/17        SGD       5.00
SWIBER HOLDINGS LTD       7.75    09/18/17        CNY       6.13


   SOUTH KOREA
   -----------

SAMPYO CEMENT CO LTD      8.10    06/26/15        KRW      70.00
SAMPYO CEMENT CO LTD      8.10    04/12/15        KRW      70.00
SAMPYO CEMENT CO LTD      8.30    09/10/14        KRW      70.00
SAMPYO CEMENT CO LTD      7.50    07/20/14        KRW      70.00
SAMPYO CEMENT CO LTD      8.30    04/20/14        KRW      70.00


   SRI LANKA
   ---------

SRI LANKA GOVERNMENT      9.00    06/01/43        LKR      72.83
SRI LANKA GOVERNMENT     12.40    05/15/31        LKR      72.22
SRI LANKA GOVERNMENT     12.40    06/15/32        LKR      68.77
SRI LANKA GOVERNMENT      7.50    01/15/33        LKR      65.12
SRI LANKA GOVERNMENT      7.50    02/15/34        LKR      61.96
SRI LANKA GOVERNMENT      7.50    03/15/35        LKR      59.45
SRI LANKA GOVERNMENT      7.85    03/14/29        USD      58.28
SRI LANKA GOVERNMENT      7.85    03/14/29        USD      58.27
SRI LANKA GOVERNMENT      7.55    03/28/30        USD      57.85
SRI LANKA GOVERNMENT      7.55    03/28/30        USD      57.80
SRI LANKA GOVERNMENT     12.40    04/15/36        LKR      57.54
SRI LANKA GOVERNMENT     12.40    05/15/37        LKR      56.24
SRI LANKA GOVERNMENT     12.40    06/15/38        LKR      55.20



                           *********


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 2024.  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 ***