TCREUR_Public/150526.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

            Tuesday, May 26, 2015, Vol. 16, No. 102



VTB BANK: Moody's Confirms 'B3' Long-Term Deposit Rating


BANK OF CYPRUS: Fitch Affirms 'B-' Rating on EUR1-Bil. Bonds


CGG SA: Moody's Lowers CFR to 'B1', Outlook Negative
DRY MIX SOLUTIONS: Moody's Affirms 'B2' Corp. Family Rating
PAPREC HOLDING: S&P Assigns B+ Corp Credit Rating, Outlook Stable


SMART SME 2006-1: Fitch Affirms 'CCsf' Rating on Class E Notes


GREECE: Seeks Urgent Bailout Deal; Rules Out Capital Controls


HUNGARY: Fitch Revises Outlook on 'BB+' IDR to Positive


BACCHUS 2006-2: S&P Affirms 'CCC+' Rating on Class E Notes
CVC CORDATUS V: Moody's Rates EUR15.15MM Class F Notes 'B2'
CVC CORDATUS V: Fitch Assigns 'B-sf' Rating to Class F Notes
DELTA CDO 2005-1: Fitch Cuts Ratings on 8 Tranches to 'Dsf'
IRISH BANK: Quinns Can Proceed with Claims in Loan Dispute

TAURUS CMBS 2007-1: S&P Lowers Rating on Class B Notes to 'D'


ALTICE SA: Moody's Puts 'B1' CFR Under Review for Downgrade


CADOGAN SQUARE VI: Fitch Rates Two Note Classes 'B-(EXP)sf'
CAIRN CLO V: Fitch Assigns 'B(EXP)sf' Rating to Class F Notes
GBP: Wants Liquidation; Seeks Solution for Pensions Provision


PETROLEUM GEO-SERVICES: Moody's Cuts CFR to Ba3, Outlook Negative


GETIN NOBLE: Moody's Confirms 'Ba2' Long-Term Deposit Rating
INTRALOT SA: Fitch Affirms B+ Issuer Default Rating, Outlook Neg


EURASIA DRILLING: Fitch Affirms 'BB' IDR, Outlook Stable
POLYUS GOLD: S&P Affirms 'BB+' CCR, Outlook Remains Negative
SAMARA OBLAST: S&P Lowers ICR to 'BB' on Weakening Liquidity


AMPER SA: Seeks Modification of Syndicated Loan Clause
BANCO SANTANDER: Fitch Affirms 'BB' Rating on Preference Shares
CAIXA GERAL: Fitch Lowers IDR to 'BB-', Outlook Stable
CAJAS RURALES: Fitch Lowers Issuer Default Rating to 'BB-'


VISTAJET GROUP: Fitch Assigns 'B' Long-Term Issuer Default Rating

METINVEST BV: Moody's Says US$114MM Missed Payment Is Credit Neg

U N I T E D   K I N G D O M

FITNESS FIRST: Still Counting Cost of Falling Into Administration
INTERNATIONAL PERSONAL: Fitch Affirms BB+ Issuer Default Rating
MCLEOD BUILDING: In Liquidations, Cuts 30 Jobs
RANGERS FC: FIFA Insists It is the Same Amid Liquidation Woes
REDCLIFFE MAGTRONICS: Goes Into Administration

TITAN EUROPE 2007-1: S&P Lowers Rating on Class A Notes to CCC-


QISHLOQ QURILISH: Moody's Lowers LT Deposit Rating to 'B2'


* Large Companies with Insolvent Balance Sheets



VTB BANK: Moody's Confirms 'B3' Long-Term Deposit Rating
Moody's Investors Service has taken rating actions on two European
subsidiaries of VTB Group -- VTB Capital plc and VTB Bank
(Austria) AG (VTBA) -- following the implementation of Moody's new
banking methodology, particularly the introduction of its Loss
Given Failure (LGF) analysis. These actions conclude the review on
the deposit and issuer ratings initiated on March 17, 2015.
Specifically, Moody's has:

  -- confirmed both banks' Ba3 long-term deposit ratings;

  -- downgraded their standalone baseline credit assessments
     (BCAs) to b2 from b1; and

  -- assigned Counterparty Risk Assessments (CR Assessments) of
     Ba1(cr)/Not Prime(cr) to both VTB Capital and VTB Austria.

Moody's says that the confirmation of the long-term deposit
ratings derives from the introduction of the rating agency's LGF
analysis, which results in one notch of uplift incorporated in the
banks' senior ratings.

VTB Capital and VTBA are subject to the EU Bank Resolution and
Recovery Directive (BRRD), which Moody's considers to be an
Operational Resolution Regime. The rating agency's assumptions,
which are applied to these banks, assume residual tangible common
equity of 3% and losses post-failure of 13% of tangible banking
assets, a 25% run-off in junior wholesale deposits, a 10% run-off
in preferred deposits, and a 25% probability of deposits being
preferred to senior unsecured debt.

Under these assumptions, deposit are likely to face a relatively
low loss-given-failure, due to the loss absorption provided by
subordinated debt and, potentially, by senior unsecured debt
should deposits be treated preferentially in a resolution, as well
as the substantial volume of deposits themselves. This provides
one notches of uplift from the adjusted BCA.

VTB Capital:

The lowering of the BCA to b2 from b1 reflects the high likelihood
that the bank's partial exposure to the economic environment in
Russia (Ba1 negative), via its client-base, has resulted in higher
credit losses and weakening profitability. In addition, Moody's
expects that negative profitability will put pressure on the
bank's internal capital-generation capacity and heighten its
dependence on parental funding.

VTB Austria:

The lowering of the BCA to b2 from b1 reflects the pressures on
the already weak profitability and deleveraging trends that VTBA
is experiencing. In addition, Moody's expects negative asset
quality trends to exert pressure on the bank's already modest
level of internal capital generation.

The outlook on both banks' deposit ratings is negative, in line
with the rating outlook of the direct parent and support provider
Bank VTB, JSC (Ba2 FC deposits, Ba1 LC deposits, negative, BCA

Moody's considers that upward pressure on the long-term ratings of
these subsidiaries is unlikely given the negative outlook. The
supported ratings of these subsidiaries would be negatively
affected if the parent's ratings were downgraded.

The subsidiaries' standalone credit profiles -- as expressed by
their BCAs -- could come under pressure if there is any further
significant deterioration in their financial fundamentals and
loss-absorption capacity, given the challenging operating
environment and current funding conditions for these entities.

As part of the actions, Moody's has assigned Ba1(cr)/Not Prime(cr)
CR Assessments to both VTB Capital and VTB Austria.

The CR Assessment, which is not a rating, reflects an issuer's
probability of defaulting on certain bank operating liabilities,
such as derivatives, letters of credit and other contractual
commitments. In assigning the CR Assessment, Moody's evaluates the
issuer's standalone strength and the likelihood, should the need
arise, of affiliate and government support, as well as the
anticipated seniority of counterparty obligations under Moody's
Loss Given Failure framework. The CR Assessment also assumes that
authorities will likely take steps to preserve the continuity of a
bank's key operations, maintain payment flows, and avoid contagion
should the bank enter a resolution.

In most cases, the starting point for the CR Assessment is one
notch above the bank's Adjusted BCA, to which Moody's then
typically adds the same notches of government support uplift as
applied to deposit and senior unsecured debt ratings. As a result,
the CR Assessment for most Irish banks is one notch higher than
their senior unsecured debt and deposit ratings, reflecting
Moody's view that authorities are likely to honour the operating
obligations the CR Assessment refers to in order to preserve a
bank's critical functions and reduce potential for contagion.

The principal methodology used in these ratings was Banks
published in March 2015.


BANK OF CYPRUS: Fitch Affirms 'B-' Rating on EUR1-Bil. Bonds
Fitch Ratings has affirmed Bank of Cyprus Public Company Ltd's
(BoC, CCC/C, Viability Rating: ccc) EUR1 billion residential
mortgage covered bonds at 'B-', with a Stable Outlook.  The
affirmation follows a full review of the program.


The rating is based on BoC's Long-term Issuer Default Rating (IDR)
of 'CCC', an unchanged IDR uplift of 1, an unchanged Discontinuity
Cap (D-Cap) of 0 (full discontinuity) and the 95.24% asset
percentage (AP) that Fitch takes into account in its analysis,
which is in line with the 'B-' breakeven AP.  The Stable Outlook
on the covered bond rating reflects the slower pace of underlying
asset quality deterioration, despite continued economic pressure.

Fitch gives credit to the maximum AP level allowed by the Cypriot
covered bond legal framework, which corresponds to 5%
overcollateralization.  This AP is adequate to reach at least 51%
recoveries on the bonds assumed to be in default in a 'B-' rating
scenario and allowing a one-notch uplift above the 'CCC+' tested
rating on a probability of default basis.

The unchanged D-Cap of 0 is due to the weak link assessment of
liquidity gap and systemic risk component.  The agency deems that
the 12-month maturity extension of the covered bonds would not be
sufficient to successfully perform a sale of the assets once the
covered bonds' source of payment switches from the issuer to the
cover pool.

Fitch's view on the use or resolution method other than
liquidation contributes to the IDR uplift of 1, which is unchanged
since our last review, reflecting the systemic interconnectedness
of the issuer in the Cypriot economy.  Cyprus is not a covered
bonds-intensive jurisdiction and Fitch deems there is no
protection provided by senior unsecured debt because it is below
the level of 5% of total adjusted assets.

Fitch has revised some of the foreclosure frequency adjustments
and house price decline assumptions to reflect its current-to-
trough expectations.

The agency has also lengthened the recovery timing for Cypriot
residential foreclosures to eight years from six years.  This
reflects the current prolonged time to foreclosure, due to the
weak housing market and the high volume of delinquent and
defaulted loans, with resulting delays in court processes.

Fitch has updated the weighted average (WA) foreclosure frequency
and the WA recovery rates for the cover pool (as at end-March
2015) to 57.2% and 68.3%, respectively, resulting in a loss rate
of 18.1%, down from 19.5% previously.  The change in the loss rate
is driven by the updated asset assumptions.

In the absence of any interest rate hedging, the program is
exposed to interest rate and basis risk due to mismatches between
the fixed or floating rate from the mortgage loans and the
EURIBOR-yielding covered bonds.

The 95.24% 'B-' breakeven AP is driven by the stressed valuation
of the entire cover pool after an assumed covered bond default
(85.1%) due to high refinancing spreads applied (1500bps for
Cyprus), followed by the cover pool's credit loss of 22.2%, which
reflects the updated foreclosure frequency and recovery rate
assumptions.  The cash flow valuation component of -9.7% is driven
by high excess spread and limited open interest rate positions
(82% floating-rate assets vs 100% floating-rate covered bonds).


All else being equal, the 'B-' covered bonds rating would be
vulnerable to any movements of BoC's IDR.  The rating would also
be downgraded if the number of notches represented by the IDR
uplift and the D-Cap reduced to zero.

The Fitch breakeven AP for the covered bond rating will be
affected, amongst others, by the profile of the cover assets
relative to outstanding covered bonds, which can change over time,
even in the absence of new issuance.  Therefore the breakeven AP
to maintain the covered bond rating cannot be assumed to remain
stable over time.


CGG SA: Moody's Lowers CFR to 'B1', Outlook Negative
Moody's Investors Service downgraded CGG SA's corporate family
rating to B1 from Ba3 and probability of default rating to B1-PD
from Ba3-PD. Concurrently, Moody's has also downgraded to Ba1 from
Baa3 the ratings on the senior secured French revolving credit
facility and the senior secured US revolving credit facility (RCF)
issued by CGG and CGG Holding (U.S.) Inc respectively as well as
from B1 to B2 the ratings on the senior notes issued by CGG SA.
The rating outlook remains negative.

The rating action reflects Moody's expectations that the seismic
industry will remain weak for an extended period of time with
limited visibility around a potential recovery. Despite the
capacity reductions in the industry, Moody's expects the market to
remain oversupplied as oil companies scale back their exploration
spending following the sharp fall in oil prices.

Moody's expects bottom-of-cycle margins in contract seismic due to
further pricing pressures and low level of vessel active time
because of higher idle time and/or steaming time between two jobs.
In multi-client surveys, Moody's expects late sales to remain
difficult to predict as customers delay purchases while pre-
funding rate for new surveys should be in line with the company's
target level of 70% or above. The weak seismic will also take a
toll on equipment sales, notably marine equipment which will also
be impacted by vessel retirements by CGG and other market
participants. On the other hand, the subsurface imaging business
should remain resilient but external sales will be impacted by
higher level of internal activity.

As a consequence, CGG's leverage as measured by Debt EBITDA minus
multi-client amortization is not expected to improve in 2015 and
will remain weak for the B1 category with limited visibility on
deleveraging prospects in 2016. For the last twelve months ending
March 2015, CGG's leverage stood at 6.6x.

Furthermore, Moody's expects the company to continue to generate
negative free cash flow in 2015 (including restructuring costs)
and possibly in 2016 too. That being said, Moody's views the
company's liquidity profile as adequate at this stage with, as of
March 31, 2015, unrestricted cash balance of approximately USD179
million and approximately USD351 million available under its RCFs.
However, whilst the company has currently sufficient headroom
under its financial maintenance covenants with notably the
leverage covenant at 2.5x as of end of March 2015 compared to a
covenant of 3.75x, Moody's notes that this financial covenant will
step-down to 3.5x in December 2015. On the positive side, the
rating reflects that CGG has no material debt maturity over the
next couple of years.

CGG's ratings also continue to be supported by the group's
position as global leader in seismic equipment (through Sercel)
and among the largest players in marine seismic services worldwide
as well as the group's strong capabilities in sub-surface imaging
and reservoir.

The negative outlook reflects the continued softening of market
conditions combined with the lack of visibility around an eventual
recovery, while the credit metrics are weak for the rating

A downgrade of the CFR could occur in the event of limited
improvement in operating performance, resulting in Moody's
expectation that leverage will remain sustainably over 5.5x in
2016 or material deterioration in the company's liquidity position
in the coming quarters.

The outlook could be stabilized following improvement in market
conditions and operating performance. Over time, the rating could
be upgraded if leverage falls towards 4.0x on a sustained basis
and the company maintains a solid liquidity profile. Any potential
upgrade would also include an assessment of market conditions.

The principal methodology used in these ratings was Global
Oilfield Services Industry Rating Methodology published in
December 2014. Other methodologies used include Loss Given Default
for Speculative-Grade Non-Financial Companies in the U.S., Canada
and EMEA published in June 2009.

Headquartered in France, CGG ranks among the top three players in
the seismic industry, with revenues of USD3.1 billion in 2014. It
is listed on both Euronext Paris and the New York Stock Exchange.

DRY MIX SOLUTIONS: Moody's Affirms 'B2' Corp. Family Rating
Moody's Investors Service changed to positive from stable the
outlook on its ratings of Dry Mix Solutions Investissements
S.A.S., the intermediate holding company of France based dry mix
solutions specialist Parex Group. Concurrently, Moody's affirmed
the B2 corporate family rating and B1-PD probability of default
rating as well as the B2 rating on the group's seven-year EUR550
million senior secured floating rate notes (due June 2021).

"The outlook change to positive reflects the very robust
performance of Parex through fiscal year 2014 which benefitted
from a solid growth in demand across all of its business lines,
particularly driven by emerging markets, as well as financial
ratios which have improved faster than we had expected at the time
of our rating assignment in June 2014", says Goetz Grossmann,
Moody's lead analyst for Parex. "The positive outlook on Parex's
ratings, which were already strongly positioned at the outset,
indicates the possibility of a rating upgrade to B1 over the next
12 months, provided that the currently benign business environment
and market dynamics remain supportive", adds Mr. Grossmann.

Issuer: Dry Mix Solutions Investissements S.A.S.

  -- Corporate Family Rating, Affirmed B2

  -- Probability of Default Rating, Affirmed B1-PD

  -- Senior Secured Regular Bond/Debenture, Affirmed B2

Outlook Actions:

  -- Outlook, Changed To Positive From Stable

The affirmed B2 CFR and the positive outlook recognize the sound
improvement in Parex's operating performance in 2014, mainly
driven by strongly growing demand in emerging markets, fuelled by
accelerating product substitution trends towards speciality dry-
mix solutions which are increasingly replacing more labor-
intensive on-site mixed mortars in these regions. As a result,
sales generated in emerging markets of EUR394 million in fiscal
year ended December 2014 represented more than 50% of total sales
(EUR783 million), thereby surpassing sales derived from mature
markets for the first time in the group's history. Key developing
region was China where sales rose EUR33 million or 35% in 2014
over the prior year, while total reported group sales grew by
3.8%. However, excluding adverse foreign currency movements, sales
would have grown 9.4% in 2014, mainly reflecting a weaker
Argentinean peso and Brazilian real against the euro. Despite
currency effects also negatively affecting Parex's earnings by
EUR7 million in 2014, Moody's acknowledges the solid improvement
in group EBITDA (as adjusted by Parex) to about EUR117 million in
2014 from EUR105 million in the previous year (+10.9%).
Correspondingly, the group's EBITDA margin widened to 14.9% in
2014, a 0.9%-point increase versus 2013 and decently better than
Moody's had anticipated when assigning its ratings to Parex in
June 2014. On a Moody's adjusted basis, Parex's EBITDA margin
reached 15.6% in 2014 which already exceeded the trigger for an
upgrade (15%) as specified by the rating agency at that time.
Likewise, Parex's leverage ratio reduced to about 5.3x debt to
EBITDA as of 31 December 2014, which positions the group strongly
in the B2 rating category. Driven by Moody's expectation of Parex
to continue strengthening its earnings, which will support
deleveraging further to levels below 5x debt to EBITDA over the
next 12 to 18 months, this will exert upward pressure on its
ratings as reflected in the positive outlook. That said, the
agency believes that Parex will benefit from sustained favorable
dynamics in its emerging regions (especially Asia) supported by
ongoing substitution trends, whereas demand in its domestic and
largest individual market France (31% of group turnover in 2014)
where residential new-build activity has just reached a low point
should remain depressed also during this year. However, Moody's
expects Parex to profit from healthy conditions also in mature
countries other than France, including a further growing new-build
market in North America and recovering Australian new housing
market, which should partly offset the sluggish construction
activity in its home market.

Concerning cash flow generation, Parex's adjusted free cash flow
was slightly negative in 2014 (EUR-7 million), mainly due to
sizeable interest payments and other finance related costs
(together EUR47 million of which around EUR23 million related to
financing fees of the group's new debt). However, Moody's expects
the group to reasonably improve adjusted free cash flow which the
agency projects in the lower double-digit million euro range in
the current fiscal year, implicating a FCF to debt ratio in the 4-
6% band.

Moody's regards Parex's liquidity profile as good. At
December 31, 2014, the group's internal cash sources comprised
EUR102 million of cash and cash equivalents (of which around EUR6
million restricted in Argentina, even though the group was able to
transfer EUR3 million out of that country during 2014) as well as
annual funds from operations of around EUR70 million. Expected
cash needs over the next 12 to 18 months relate to working capital
consumption (intra-year swings of around EUR30 million assumed),
capital expenditures of approximately EUR33 million per annum,
minor short-term debt maturities as well as a EUR15 million
payment for the acquisition of the remaining shares in a Chinese
subsidiary in the first quarter of 2015. These liquidity needs,
together with Moody's standard assumption of c.3% of group sales
for working cash requirements, are comfortably covered by the
group's available cash sources including its committed EUR100
million super senior revolving credit facility (maturing 2021)
which was undrawn as of December 31, 2014.

The positive outlook incorporates the expectation that Parex will
maintain its strong profitability at levels achieved in 2014. It
also assumes that the group's credit profile will strengthen
further, including continued growth in earnings and gradual
deleveraging to well below 5x debt to EBITDA over the next 12-18
months. Moreover, Moody's expects Parex to achieve positive free
cash flow generation from 2015 onwards and to maintain its healthy
liquidity position.

Moody's might consider to upgrade Parex if the group were able to
(1) reduce adjusted gross debt to EBITDA below 5.0x; (2) maintain
adjusted EBITDA margins above 15%; and (3) generate meaningful
positive free cash flow in the double-digit million range on a
sustainable basis.

Negative rating pressure could arise should Parex's (1) adjusted
gross debt to EBITDA exceed 6.0x, and not only temporarily; (2)
profitability deteriorate as reflected in adjusted EBITDA margins
reducing to below 13.0%; and (3) free cash flow turn negative.
Moreover, failure to maintain an adequate liquidity profile would
exert pressure on the ratings.

The principal methodology used in these ratings was Building
Materials Industry published in September 2014. Other
methodologies used include Loss Given Default for Speculative-
Grade Non-Financial Companies in the U.S., Canada and EMEA
published in June 2009.

Headquartered in Issy-les-Moulineaux, France, Dry Mix Solutions
Investissements S.A.S. is an intermediate holding company of
ParexGroup (Parex), a global leading manufacturer and distributor
of specialty dry-mix solutions for the construction industry. The
group's product offering is divided into three business lines, (1)
Faáade Protection and Decoration; (2) Ceramic Tile Setting
Materials; and (3) Concrete Repair and Waterproofing Systems
across which Parex holds top 3 positions in its key markets. In
the fiscal year ended December 2014, Parex generated net sales of
EUR783 million and reported EBITDA of EUR117 million with about
3,700 employees worldwide. The group operates 62 manufacturing
sites and 9 R&D facilities in 20 countries. In June 2014, funds
advised by private equity firm CVC Capital Partners acquired all
shares in Parex from French industrial chemicals and building
materials group Materis.

PAPREC HOLDING: S&P Assigns B+ Corp Credit Rating, Outlook Stable
Standard & Poor's Ratings Services said that it had assigned its
'B+' long-term corporate credit rating to Paprec Holding, a
holding company for France-based recycling group Paprec.  The
outlook is stable.

At the same time, S&P assigned its 'BB-' issue rating and '2'
recovery rating to Paprec's EUR100 million super senior revolving
credit facility (RCF).  S&P also assigned its 'B+' issue rating
and '3' recovery rating to the EUR295 million senior secured
notes.  At the same time, S&P assigned its 'B-' issue rating and
'6' recovery rating to the EUR185 million senior subordinated

S&P's corporate credit rating on Paprec primarily reflects S&P's
forecast that the company will report Standard & Poor's-adjusted
debt to EBITDA in excess of 5x and funds from operations (FFO) to
debt of about 11%-13% by year-end 2015.

Paprec successfully refinanced its existing financing package
(comprising more than EUR400 million of on-balance-sheet debt and
EUR175 million of mezzanine notes) through EUR295 million of new
senior secured notes due 2022 and EUR185 million of new senior
subordinated notes due 2023.  While the overall aggregate amount
of EUR480 million new debt is in line with S&P's initial
assumptions, the EUR15 million upsize in senior secured notes was
fully compensated by a similar amount reduction in the senior
subordinated notes.  Furthermore, the company benefited from
better pricing conditions than initially anticipated, which has
translated into slightly more comfortable cash interest coverage.

Following the closing of the transaction, the company's adjusted
debt also included nearly EUR20 million of bilateral lines, just
over EUR100 million finance leases, asset-retirement obligations
estimated at EUR8 million, pension adjustments of more than EUR7
million, and guarantees and debt issuance costs in excess of EUR10

The rating on Paprec also reflects S&P's view of the company's
small absolute size in the French waste management sector.  In
2014, Paprec processed about 6 million tons of waste (out of 50
million tons in the French sector as a whole) and generated just
below EUR800 million of revenues and reported EBITDA near EUR100
million.  This leaves Paprec clearly smaller than the two other
large French players: Veolia (BBB/Stable/A-2) and Suez
Environment.  Further weighing on the company's business risk
profile is its focus on the French market, where still-sluggish
macroeconomic prospects could negatively affect industrial waste

These weaknesses are somewhat offset by the company's leading
market positions and fairly diversified recycling offering.  It
also has satisfactory coverage of the national territory with a
presence in most industrialized and urban areas, and the sector
has inherently high barriers to entry, including a demanding
process for obtaining official authorizations for new site
openings.  On the strength of the indexation mechanism and with
contracts averaging three to five years, the company has been able
to broadly maintain its EBITDA margin at a level of profitability
S&P views as average.  In S&P's view, a supportive French
regulatory framework that encourages a shift in waste processing
from landfill/incineration to recycling will further contribute to
volume growth, although at a gradual pace.

Paprec received an aggregate EUR150 million from two successive
equity injections (in November 2012 and October 2013) from the
French Public Investment Bank (BPI; Banque Publique
d'Investissement).  Of this amount, S&P treats EUR50 million as
surplus cash, as it anticipates that Paprec will allocate the
remaining portion to capital spending and further acquisitions.
S&P takes a positive view of Paprec's cash interest coverage of
about 3x and credit metrics at the better end of the range for its
"highly leveraged" financial risk profile assessment.

Although it is neutral to the rating, S&P's assessment of the
financial policy is supported by the group's family ownership,
reinforced by the recent entrance of BPI as a strategic investor.
S&P also views the company's management team as experienced with a
clear strategic growth plan.

The rating on Paprec incorporates an upward adjustment of one
notch under S&P's comparable rating analysis, reflecting its
opinion of its credit characteristics in aggregate relative to
peers; specifically owing to its leverage and interest coverage

The stable outlook reflects S&P's view that Paprec's EBITDA will
gradually improve in 2015 with further contributions from the
acquisitions Paprec undertook last year.  S&P assumes that EBITDA
margins will remain resilient at more than 12%, given the
company's initiatives over the past three to four years to
strengthen capacity and secure satisfactory national coverage.
S&P's base-case scenario assumes adjusted total debt to EBITDA
maintained at about 5x and cash interest coverage sustainably in
excess of 2.5x.

S&P could consider a negative rating action if the acquisitions
undertaken during 2014 do not translate into profitable growth.
In addition, if Paprec were to deliver materially negative free
operating cash flow as a result of acquisitions or capital
spending to further enhance its asset base, or if the EBITDA
margin were to significantly deteriorate to below average levels,
S&P could also take a negative rating action.  This could arise if
macroeconomic conditions in France were worse than anticipated,
leading to a sharp correction in the growth of waste volumes.

As S&P do not anticipate a substantial deleveraging of the
company's balance sheet over the next 12-18 months, the potential
for a positive rating action is remote.  That said, it could
materialize if EBITDA generation was greater than anticipated,
leading to total debt to EBITDA below 4x and FFO to debt
comfortably above 12%.


SMART SME 2006-1: Fitch Affirms 'CCsf' Rating on Class E Notes
Fitch Ratings has affirmed SMART SME CLO 2006-1 Ltd's EUR19.9
million class E notes (ISIN: XS0276640835) at 'CCsf' and revised
the Recovery Estimate (RE) to 40% from 25%.

The transaction is a partially funded synthetic collateralized
debt obligation (CDO) referencing a portfolio of loans, revolving
credit facilities and other payment claims to SMEs based
originally predominantly in Germany, but now mostly in Spain.  The
debt instruments were originated by Deutsche Bank AG
(A/Negative/F1) and its Spanish and Italian subsidiaries.


The affirmation reflects Fitch's view that default is probable.

At scheduled maturity in December 2013, all performing loans were
removed from the loan portfolio in line with the transaction
documentation.  The current portfolio of EUR136.7 million
consequently only contains defaulted or impaired assets. After the
removal and further liquidations the portfolio is heavily
concentrated. 43 obligor groups representing 0.5% or more of the
portfolio balance make up 88% of the pool and the top three
industries -- mainly real estate -- account for 78% of the pool.
Spanish borrowers represent 89% of the exposure.  The percentage
of assets with a Fitch equivalent rating of 'D' is 99%.

Fitch expects portfolio losses to be in excess of the still
available first loss threshold amount of EUR33.2 million, if
realized before legal final maturity.  Losses exceeding this
amount will be absorbed by the notes in reverse order, starting
with the class F notes.  Given that the work-out period is until
December 2016 we expect recoveries to still be able to partially
repay the class E notes.  The increase in the RE reflects that
liquidations on a material amount of credit events have been
undertaken and are expected to continue.

If an asset's work-out process is not completed at legal final
maturity in December 2016, then a loss of zero will be applied and
the defaulted loan will be paid back with 100%.  However, Fitch
assumes that all outstanding credit events will be settled prior
to the legal final maturity.

REs are forward-looking, taking into account Fitch's expectations
for principal repayments on distressed structured finance
securities rated 'CCCsf' or below.


After scheduled maturity, the transaction is primarily sensitive
to recoveries from defaulted agreements.


GREECE: Seeks Urgent Bailout Deal; Rules Out Capital Controls
Nektaria Stamouli at The Wall Street Journal reports that the
Greek government has the responsibility to repay its obligations
both internally and to its international creditors, but a deal
with its international creditors is needed as quick as possible.

"There is a compelling need for Greece and it is international
creditors to reach a deal," The Journal quotes Gabriel
Sakellaridis as saying.  He added that the government aims to have
a deal by the beginning of June, The Journal relates.

"To the point we are in the position to pay our obligations, we
will pay our obligations.  It's the government's responsibility to
be in a position to pay its obligations."

His comments come after Interior Minister Nikos Voutsis said on
May 24 that the government won't have the money it is due to repay
to the International Monetary Fund next month unless it strikes a
deal with international creditors over further rescue funding, The
Journal notes.

Mr. Voutsis told privately owned television station Mega that
Greece is scheduled to repay EUR1.6 billion (US$1.76 billion) to
the IMF between June 5 to 19, but the payments cannot be met, The
Journal recounts.  "This money won't be given," Mr. Voutsis, as
cited by The Journal, said. "It doesn't exist."

Mr. Sakellaridis, the spokesman, said the government isn't
considering bundling all the payments the government has to make
to the IMF in one payment at the end of the month, The Journal

According to The Journal, he added that this option hasn't been
proposed by the any of the institutions overseeing the country's
austerity program.


According to Bloomberg News' Marcus Bensasson, Greece called on
the country's creditors to compromise on demands to break an
impasse over the release of funds for its cash-strapped economy as
a deadline neared for payments due next month to the International
Monetary Fund.

A day after Prime Minister Alexis Tsipras said Greece can't absorb
any more austerity measures, Finance Minister Yanis Varoufakis
said his government has met the euro area and IMF three-quarters
of the way so it's up to creditors to cover the remainder,
Bloomberg relates.

As time runs short, the Greek government has to pay monthly
salaries and pensions by May 29 and repay about EUR300 million
(US$329 million) to the IMF a week later, Bloomberg discloses.

German Finance Minister Wolfgang Schaeuble, meanwhile, signaled
there isn't much wiggle room after Mr. Tsipras's government
committed to policy changes in return for aid in a Feb. 20
euro-area accord, Bloomberg notes.

"That is the condition for completing the current program,"
Mr. Schaeuble, as cited by Bloomberg, said in a Deutschlandfunk
radio interview aired on May 24.  "The problems are rooted in
Greece. And now Greece does have to fulfill its commitments."

                        Capital Controls

Meanwhile, Irish Examiner reports that Greece's government has
ruled out restricting access to bank accounts and the free
movement of money if there is no breakthrough soon in tortuous
talks with bailout creditors and its dwindling cash reserves dry

According to Irish Examiner, Gabriel Sakellaridis, spokesman for
the radical left-led government, said the possibility of imposing
capital controls -- part of a chain of events that could lead to
Greece leaving the euro if things take a disastrous turn --
"simply does not exist".

He spoke after a senior opposition conservative politician was
quoted as saying capital controls could be imposed this coming
long weekend -- June 1 is the Orthodox Pentecost holiday -- or
shortly after if the government is unable to make a loan repayment
due to the International Monetary Fund on June 5, Irish Examiner

Experts say Greece could eventually have to impose capital
controls to prevent a bank run, when depositors flock to bank
branches and ATMs to withdraw their savings, Irish Examiner
discloses.  An estimated EUR30 billion have already flowed out of
Greek banks since elections were called late last year, but a more
sudden surge in withdrawals would cause the banks to collapse,
Irish Examiner notes.

Such a panic could be triggered by the country -- which is already
scraping together its last cash reserves -- failing to make a
payment to the IMF, or any other creditor, or being unable to
fully pay pensions and public sector salaries, Irish Examiner


HUNGARY: Fitch Revises Outlook on 'BB+' IDR to Positive
Fitch Ratings has revised the Outlook on Hungary's Long-term
foreign and local currency Issuer Default Ratings (IDR) to
Positive from Stable and affirmed the IDRs at 'BB+' and 'BBB-'
respectively.  The issue ratings on Hungary's senior unsecured
foreign and local currency bonds have also been affirmed at 'BB+'
and 'BBB-' respectively.  The Country Ceiling has been affirmed at
'BBB' and the Short-term foreign currency IDR at 'B'.


The revision of the Outlook to Positive reflects the following key
rating drivers and their relative weights:


Hungary's external metrics have markedly improved.  Since 2010,
Hungary has recorded high current account surpluses, at 4.2% of
GDP in 2014, reflecting strong goods and services exports
following industrial expansion and lower external interest
payments linked to external debt deleveraging.  Banks' external
debt has materially reduced, at 20% of GDP at end-2014 from a peak
of 39% of GDP in 2008.  Net external debt is still high, but
declining rapidly as a result, at 56% of GDP in 2014 from 90% in

The general government deficit was 2.6% of GDP in 2014, a stronger
than expected outcome in the context of an election year.  Fitch
forecasts the deficit to remain in the range of 2.0%-2.5% in the
medium term as tax cuts are offset by cyclical improvement.  This
would support a continued slow decline in government debt from the
current high level (76.9% of GDP).  Fitch expects debt will reach
75.2% of GDP by 2016 and 66.1% by 2022.

Real GDP accelerated to 3.6% in 2014 from 1.5% in 2013, driven by
domestic demand. The decline in unemployment to 7.8% in March 2015
from 8.3% a year ago, and low inflation, supported consumption.
Investment benefited from exceptional European Union (EU) fund
disbursement.  Fitch expects growth will slow to 2.9% in 2015 and
2.3% in 2016 due to slower disbursement of EU fund as the new
2014-2020 cycle starts only gradually.

The cut in the bank tax contained in the draft budget for 2016
submitted to Parliament signals the government's intention to
achieve a gradual normalization of the banking business
environment, in line with the agreement signed with the European
Bank for Reconstruction and Development (EBRD) in early 2015.
Although regaining market credibility is going to take some time,
Fitch sees this development as potentially positive for the
rating.  Meanwhile, the conversion of the large stock of FX
mortgage loans (equivalent to 12% of GDP) has considerably reduced
households' exposure to exchange rate volatility.

Hungary's 'BB+' IDRs also reflect the following key rating

Hungary's GDP per capita and governance indicators are higher than
the 'BB' and 'BBB' medians because of its greater economic
development and integration with Western Europe.

Banks have been weakened by a high level of NPLs (impaired loans
over 90 days past due accounted for 13.3% of total loans at end-
2014 from 14.1% in 2013, 14.6% for FX loans, 11.6% for HUF loans)
and adverse policy decisions.  Total lending to the private sector
contracted by 1% in nominal terms in 2014 (+0.6% for HUF loans, -
1.7% for FX loans) and Fitch does not expect it to recover by


The main factors that could lead to an upgrade are:

   -- Greater policy stability and predictability along with an
      improved business environment, for example resulting in
      stable and predictable framework for the banking sector.

   -- Continued, sustained reduction in external indebtedness
      supported by current account surpluses.

   -- Reduction in the public debt ratio.

The rating Outlook is Positive.  Consequently, Fitch's sensitivity
analysis does not currently anticipate developments with a
material likelihood of leading to a downgrade.  However,
relaxation in the fiscal stance and/or policy missteps leading to
higher macro-financial risks, including crystallization of
contingent liabilities, would be rating negative.


Fitch assumes the Hungarian authorities will maintain fiscal
discipline, broadly in line with the targets included in the
Convergence Programme submitted to the EU in April 2015.

Fitch assumes that under severe financial stress, support for
Hungarian subsidiary banks would come first and foremost from
their foreign parent banks.


BACCHUS 2006-2: S&P Affirms 'CCC+' Rating on Class E Notes
Standard & Poor's Ratings Services raised its credit ratings on
BACCHUS 2006-2 PLC's class B and C notes.  At the same time, S&P
has affirmed its ratings on the class D and E notes.

The rating actions follow S&P's assessment of the transaction's
performance using data from the March 31, 2015 trustee report and
the application of S&P's relevant criteria.

"We subjected the capital structure to a cash flow analysis to
determine the break-even default rate (BDR) for each rated class
at each rating level.  The BDR represents our estimate of the
maximum level of gross defaults, based on our stress assumptions,
that a tranche can withstand and still fully repay the
noteholders.  In our analysis, we used the portfolio balance that
we consider to be performing (EUR83,712,422), the current and
covenanted weighted-average spreads (3.98% and 2.80%,
respectively), and the weighted-average recovery rates calculated
in line with our corporate collateralized debt obligation (CDO)
criteria.  We applied various cash flow stresses, using our
standard default patterns, in conjunction with different interest
rate stress scenarios," S&P said.

Since S&P's Aug. 13, 2014 review, the aggregate collateral balance
has decreased by 48.67% to EUR83.71 million from EUR163.09

The class A-1, A-2A, and A-2B notes have fully paid down and the
class B notes have amortized by EUR11.1 million since S&P's
previous review.  In S&P's view, this has increased the available
credit enhancement for all rated classes of notes.  The weighted-
average spread and the coverage tests have also improved, while
the concentration of defaulted assets has decreased since S&P's
previous review.

BACCHUS 2006-2's portfolio is concentrated and comprises 20
performing obligors, compared to 31 in S&P's previous review.  The
largest obligor's assets represent almost 10% of the aggregate
collateral balance and the largest five obligors comprise almost
46% of the total pool of performing assets.

Non-euro-denominated assets comprise 3.94% of the aggregate
collateral balance.  A cross-currency swap agreement hedges these
assets.  In S&P's cash flow analysis, it considered scenarios
where the hedging counterparty does not perform, and where the
transaction is therefore exposed to changes in currency rates.

Taking into account the results of its credit and cash flow
analysis and the application of its current counterparty criteria
and its non-sovereign ratings criteria, S&P considers that the
available credit enhancement for the class B and C notes is
commensurate with higher ratings than those previously assigned.
S&P has therefore raised to 'AAA (sf)' from 'A+ (sf)' its rating
on the class B notes, and to 'A+ (sf)' from 'BBB+ (sf)' its rating
on the class C notes.

S&P's ratings on the class D and E notes are constrained by the
application of the largest obligor default test, a supplemental
stress test that S&P introduced in its corporate CDO criteria.
S&P has therefore affirmed its ratings on these classes of notes.

BACCHUS 2006-2 is a cash flow collateralized loan obligation (CLO)
transaction that securitizes loans to primarily speculative-grade
corporate firms.  The transaction closed in August 2006 and its
reinvestment period ended in August 2012.  IKB Deutsche
Industriebank AG is the transaction manager.


Class       Rating             Rating
            To                 From

EUR491.21 Million Senior Secured and Deferrable Floating-Rate

Ratings Raised

B           AAA (sf)           A+ (sf)
C           A+ (sf)            BBB+ (sf)

Ratings Affirmed

D           B+ (sf)
E           CCC+ (sf)

CVC CORDATUS V: Moody's Rates EUR15.15MM Class F Notes 'B2'
Moody's Investors Service assigned the following definitive
ratings to notes issued by CVC Cordatus Loan Fund V Limited:

  -- EUR264,735,000 Class A-1 Senior Secured Floating Rate Notes
     due 2029, Definitive Rating Assigned Aaa (sf)

  -- EUR5,265,000 Class A-2 Senior Secured Fixed Rate Notes due
     2029, Definitive Rating Assigned Aaa (sf)

  -- EUR36,865,000 Class B-1 Senior Secured Floating Rate Notes
     due 2029, Definitive Rating Assigned Aa2 (sf)

  -- EUR12,635,000 Class B-2 Senior Secured Fixed Rate Notes due
     2029, Definitive Rating Assigned Aa2 (sf)

  -- EUR27,000,000 Class C Senior Secured Deferrable Floating
     Rate Notes due 2029, Definitive Rating Assigned A2 (sf)

  -- EUR25,250,000 Class D Senior Secured Deferrable Floating
     Rate Notes due 2029, Definitive Rating Assigned Baa3 (sf)

  -- EUR28,750,000 Class E Senior Secured Deferrable Floating
     Rate Notes due 2029, Definitive Rating Assigned Ba2 (sf)

  -- EUR15,150,000 Class F Senior Secured Deferrable Floating
     Rate Notes due 2029, Definitive Rating Assigned B2 (sf)

Moody's rating of the rated notes addresses the expected loss
posed to noteholders by legal final maturity of the notes in July
2029. The ratings reflect the risks due to defaults on the
underlying portfolio of loans given the characteristics and
eligibility criteria of the constituent assets, the relevant
portfolio tests and covenants as well as the transaction's capital
and legal structure. Furthermore, Moody's is of the opinion that
the collateral manager, CVC Credit Partners Group Limited ("CVC"),
has sufficient experience and operational capacity and is capable
of managing this CLO.

CVC Cordatus Loan Fund V Limited is a managed cash flow CLO. At
least 90% of the portfolio must consist of senior secured
obligations and up to 10% of the portfolio may consist of senior
unsecured obligations, second-lien loans, mezzanine obligations
and high yield bonds. The portfolio is expected to be 60-65%
ramped up as of the closing date and to be comprised predominantly
of corporate loans to obligors domiciled in Western Europe. The
remainder of the portfolio will be acquired during the six month
ramp-up period in compliance with the portfolio guidelines.

CVC will manage the CLO. It will direct the selection, acquisition
and disposition of collateral on behalf of the Issuer and may
engage in trading activity, including discretionary trading,
during the transaction's four-year reinvestment period.
Thereafter, purchases are permitted using principal proceeds from
unscheduled principal payments and proceeds from sales of credit
risk obligations or credit improved obligations, and are subject
to certain restrictions.

In addition to the eight classes of notes rated by Moody's, the
Issuer will issue EUR 47,800,000 of subordinated notes which are
not rated.

The transaction incorporates interest and par coverage tests
which, if triggered, divert interest and principal proceeds to pay
down the notes in order of seniority.

Moody's modeled the transaction using CDOEdge, a cash flow model
based on the Binomial Expansion Technique, as described in Section
2.3 of the "Moody's Global Approach to Rating Collateralized Loan
Obligations" rating methodology published in February 2014. The
cash flow model evaluates all default scenarios that are then
weighted considering the probabilities of the binomial
distribution assumed for the portfolio default rate. In each
default scenario, the corresponding loss for each class of notes
is calculated given the incoming cash flows from the assets and
the outgoing payments to third parties and noteholders. Therefore,
the expected loss or EL for each tranche is the sum product of (i)
the probability of occurrence of each default scenario and (ii)
the loss derived from the cash flow model in each default scenario
for each tranche.

Moody's used the following base-case modeling assumptions:

- Par Amount: EUR450,000,000

- Diversity Score: 35

- Weighted Average Rating Factor (WARF): 2750

- Weighted Average Spread (WAS): 4.10%

- Weighted Average Coupon (WAC): 5.50%

- Weighted Average Recovery Rate (WARR): 40.00%

- Weighted Average Life (WAL): 8 years

Together with the set of modelling assumptions above, Moody's
conducted an additional sensitivity analysis, which was an
important component in determining the definitive rating assigned
to the rated notes. This sensitivity analysis includes increased
default probability relative to the base case. Below is a summary
of the impact of an increase in default probability (expressed in
terms of WARF level) on each of the rated notes (shown in terms of
the number of notch difference versus the current model output,
whereby a negative difference corresponds to higher expected
losses), holding all other factors equal.

Percentage Change in WARF: WARF + 15% (to 3163 from 2750)

Ratings Impact in Rating Notches:

- Class A-1 Senior Secured Floating Rate Notes: 0

- Class A-2 Senior Secured Fixed Rate Notes: 0

- Class B-1 Senior Secured Floating Rate Notes: -2

- Class B-2 Senior Secured Fixed Rate Notes: -2

- Class C Senior Secured Deferrable Floating Rate Notes:-2

- Class D Senior Secured Deferrable Floating Rate Notes: -1

- Class E Senior Secured Deferrable Floating Rate Notes: -1

- Class F Senior Secured Deferrable Floating Rate Notes: 0

Percentage Change in WARF: WARF +30% (to 3575 from 2750)

- Class A-1 Senior Secured Floating Rate Notes: -1

- Class A-2 Senior Secured Fixed Rate Notes: -1

- Class B-1 Senior Secured Floating Rate Notes: -3

- Class B-2 Senior Secured Fixed Rate Notes: -3

- Class C Senior Secured Deferrable Floating Rate Notes:-4

- Class D Senior Secured Deferrable Floating Rate Notes: -2

- Class E Senior Secured Deferrable Floating Rate Notes: -2

- Class F Senior Secured Deferrable Floating Rate Notes: -2

The principal methodology used in this rating was "Moody's Global
Approach to Rating Collateralized Loan Obligations" published in
February 2014.

The rated notes' performance is subject to uncertainty. The notes'
performance is sensitive to the performance of the underlying
portfolio, which in turn depends on economic and credit conditions
that may change. CVC's investment decisions and management of the
transaction will also affect the notes' performance.

CVC CORDATUS V: Fitch Assigns 'B-sf' Rating to Class F Notes
Fitch Ratings has assigned CVC Cordatus Loan Fund V Limited notes
final ratings, as follows:

Class A-1: 'AAAsf'; Outlook Stable
Class A-1: 'AAAsf'; Outlook Stable
Class B-1: 'AAsf'; Outlook Stable
Class B-2: 'AAsf'; Outlook Stable
Class C: 'Asf'; Outlook Stable
Class D: 'BBBsf'; Outlook Stable
Class E: 'BBsf'; Outlook Stable
Class F: 'B-sf'; Outlook Stable
Subordinated notes: not rated

CVC Cordatus Loan Fund V Limited is an arbitrage cash flow
collateralized loan obligation (CLO).


Average Portfolio Credit Quality
Fitch expects the average credit quality of obligors to be in the
'B' category. Fitch has credit opinions on all obligors in the
indicative portfolio. The covenanted minimum Fitch weighted
average rating factor (WARF) for assigning expected ratings is
34.0. The WARF of the identified portfolio is 33.8.

High Recovery Expectation
At least 90% of the portfolio comprises senior secured
obligations. Fitch views the recovery prospects for these assets
as more favorable than for second-lien, unsecured and mezzanine
assets. Fitch has assigned Recovery Ratings to all of the assets
in the identified portfolio. The covenanted minimum weighted
average recovery rate (WARR) for assigning expected ratings is
66.0%. The WARR of the identified portfolio is 67.4%.

Unhedged Non-euro Assets Exposure
The transaction is allowed to invest up to 2.5% of the portfolio
in non-euro-denominated assets. Unhedged non-euro assets are
limited to a maximum exposure of 2.5% of the portfolio subject to
principal haircuts. The manager can only invest in unhedged assets
if, after the applicable haircuts, the aggregate balance of the
assets is above the reinvestment target par balance.

Partial Interest Rate Hedge
Between 0% and 10% of the portfolio can be invested in fixed rate
assets, while fixed rate liabilities account for 3.8%. Therefore,
the transaction is partially hedged against rising interest rates.


Net proceeds from the notes will be used to purchase a EUR450m
portfolio of European leveraged loans. The portfolio will be
managed by CVC Credit Partners Group Limited. The transaction will
have a four year re-investment period scheduled to end in 2019.

The transaction documents may be amended subject to rating agency
confirmation or noteholder approval. Where rating agency
confirmation relates to risk factors, Fitch will analyse the
proposed change and may provide a rating action commentary if the
change has a negative impact on the ratings. Such amendments may
delay the repayment of the notes as long as Fitch's analysis
confirms the expected repayment of principal at the legal final

If in the agency's opinion the amendment is risk-neutral from a
rating perspective Fitch may decline to comment. Noteholders
should be aware that confirmation is considered to be given if
Fitch declines to comment.

DELTA CDO 2005-1: Fitch Cuts Ratings on 8 Tranches to 'Dsf'
Fitch Ratings has downgraded eight and affirmed three tranches of
four European structured finance collateral debt obligations (SF
CDOs).  Simultaneously, the agency has withdrawn the ratings of 10

The transactions are synthetic securitizations of portfolios of
exposures to European and North American structured finance


The downgrades reflect principal writedowns on the affected
tranches.  The tranches were highly distressed prior to the
writedowns and Fitch considered a default inevitable.

Fitch is withdrawing the ratings of Delta CDO plc Series 2005-1,
Delta CDO plc Series 2005-2, and Tempo CDO I Limited as all rated
notes issued by these transactions have defaulted.  Accordingly,
Fitch will no longer provide ratings or analytical coverage for
Delta CDO plc Series 2005-1, Delta CDO plc Series 2005-2, and
Tempo CDO I Limited.


No rating sensitivity analysis was performed as the affected
tranches are already rated 'Dsf'.

The rating actions are:

Delta CDO Series plc 2005-1

Class B (ISIN XS0218111739): downgraded to 'Dsf' from 'Csf';
rating withdrawn

Class C (ISIN XS0218113198): downgraded to 'Dsf' from 'Csf';
rating withdrawn

Class D (ISIN XS0218113602): downgraded to 'Dsf' from 'Csf';
rating withdrawn

Delta CDO plc Series 2005-2

Class B-1 (ISIN US24741NAD57): downgraded to 'Dsf' from 'Csf';
rating withdrawn

Class C-1 (ISIN US24741NAE31): downgraded to 'Dsf' from 'Csf';
rating withdrawn

Class E-1 (ISIN US24741NAG88): downgraded to 'Dsf' from 'Csf';
rating withdrawn

High Tide CDO I S.A.

Class C (ISIN XS0169669248): downgraded to 'Dsf' from 'Csf'

Tempo CDO 1 Ltd

Class A (ISIN XS0179909774): downgraded to 'Dsf' from 'Csf';
rating withdrawn

Class B (ISIN XS0179909931): affirmed at 'Dsf'; rating withdrawn

Class C (ISIN XS0179910517): affirmed at 'Dsf'; rating withdrawn

Class D (ISIN XS0179910780): affirmed at 'Dsf'; rating withdrawn

IRISH BANK: Quinns Can Proceed with Claims in Loan Dispute
The Irish Times reports that a High Court judge has permitted the
family of businessman Sean Quinn to proceed with claims in their
forthcoming legal action that some EUR2.34 billion loans by Anglo
Irish Bank to various Quinn companies were made for the unlawful
purpose of propping up the bank's share price.

According to The Irish Times, Mr. Justice Robert Haughton ruled
the Quinns cannot continue to pursue those aspects of their claim
alleging the loans are unenforceable.

He was making final directions concerning management of the
hearing, due to open on June 3, of the action by Mrs. Patricia
Quinn and her five adult children aimed at avoiding liability for
the EUR2.34 billion loans, The Irish Times discloses.

The judge was told the family do not intend to appeal his ruling
last week preventing them amending their claim to include a claim
they were innocent parties to the loan transactions with the
effect, they argued, the loans could not be enforced against them,
The Irish Times relates.

The family's case, initiated in May 2011, is expected to last more
than six months and has been brought against Irish Bank Resolution
Corporation and its special liquidator Kieran Wallace, The Irish
Times notes.

The Quinns dispute the validity of share pledges and guarantees
provided as security for loans made by the former Anglo Irish Bank
to Quinn companies, The Irish Times relays.  Those loans, the
Quinns claim, were made for the unlawful purpose of propping up
the bank's plummeting share price, The Irish Times states.

On May 20, the judge refused the bank's application to have
deleted from the Quinns' claim those sections alleging the loans
were unlawfully made but he directed that those parts of the claim
alleging the loans were unenforceable could be deleted.

The bank's application arose following a Supreme Court decision
last March that, even when made for unlawful purposes, loans could
still be enforceable, The Irish Times notes.

Also on May 20, Shane Murphy SC, for IBRC, said his side intended
to bring a motion during next month's hearing against Sean Quinn
Sr. seeking judgment against him in this case, The Irish Times

                  About Irish Bank Resolution

Irish Bank Resolution Corp., the liquidation vehicle for what was
once one of Ireland's largest banks, filed a Chapter 15 petition
(Bankr. D. Del. Case No. 13-12159) on Aug. 26, 2013, to protect
U.S. assets of the former Anglo Irish Bank Corp. from being
seized by creditors.  Irish Bank Resolution sought assistance
from the U.S. court in liquidating Anglo Irish Bank Corp. and
Irish Nationwide Building Society.  The two banks failed and were
merged into IBRC in July 2011.  IBRC is tasked with winding them
down and liquidating their assets.  In February, when Irish
lawmakers adopted the Irish Bank Resolution Corp., IBRC was
placed into a special liquidation in the Irish High Court to
complete liquidation and distribution of the two banks' assets.

IBRC's principal asset as of June 2012 was a loan portfolio
valued at some EUR25 billion (US$33.5 billion). About 70 percent
of the loans were to Irish borrowers. Some 5 percent of the
portfolio was under U.S. law, according to a court filing.  Total
liabilities in June 2012 were about EUR50 billion, according
to a court filing.

Most assets in the U.S. have been sold already.  IBRC is involved
in lawsuits in the U.S.

IBRC was granted protection under Chapter 15 of the U.S.
Bankruptcy Code in December 2013.

Kieran Wallace and Eamonn Richardson of KPMG have been named the
special liquidators.

                       About Anglo Irish

Anglo Irish Bank was an Irish bank headquartered in Dublin from
1964 to 2011.  It went into wind-down mode after nationalization
in 2009.  In July 2011, Anglo Irish merged with the Irish
Nationwide Building Society, with the new company being named the
Irish Bank Resolution Corporation (IBRC).

Standard & Poor's Ratings Services said that it lowered its long-
and short-term counterparty credit ratings on Irish Bank
Resolution Corp. Ltd. (IBRC) to 'D/D' from 'B-/C'.   S&P also
lowered the senior unsecured ratings to 'D' from 'B-'.  S&P then
withdrew the counterparty credit ratings, the senior unsecured
ratings, and the preferred stock ratings on IBRC.  At the same
time, S&P affirmed its 'BBB+' issue rating on three government-
guaranteed debt issues.

The rating actions follow the Feb. 6, 2013, announcement that the
Irish government has liquidated IBRC.

The former Irish bank sought protection from creditors under
Chapter 15 of the U.S. Bankruptcy Code on Aug. 26, 2013 (Bankr.
D. Del., Case No. 13-12159).  The former bank's Foreign
Representatives are Kieran Wallace and Eamonn Richardson.  Its
U.S. bankruptcy counsel are Mark D. Collins, Esq., and Jason M.
Madron, Esq., at Richards, Layton & Finger, P.A., in Wilmington,

TAURUS CMBS 2007-1: S&P Lowers Rating on Class B Notes to 'D'
Standard & Poor's Ratings Services lowered its credit ratings on
Taurus CMBS (Pan-Europe) 2007-1 Ltd.'s class A1, A2, and B notes.
At the same time, S&P has affirmed its 'D (sf)' ratings on the
class C, D, E, and F notes.

On the May 2015 interest payment date (IPD), all classes of notes
experienced interest shortfalls.  The transaction continues to
experience cash flow disruptions, primarily due to high prior
ranking transaction costs, which, together with spread compression
between the loan and the notes, have resulted in insufficient
funds to meet all interest payments due to the notes.

S&P believes that, absent of recoveries, this transaction will
likely remain vulnerable to future interest shortfalls due to the
above described factors that reduce the issuer's ability to pay
timely interest.

S&P's ratings in Taurus CMBS (Pan-Europe) 2007-1 address the
timely payment of interest and the repayment of principal no later
than at legal final maturity in February 2020.

Following the issuer's failure to pay full interest due on the
class A1 notes on the May 2015 IPD, the creditworthiness of these
notes has deteriorated.

In line with S&P's imputed promises criteria, it has not lowered
its rating on the class A1 notes to 'D (sf)' because it believes
that the shortfall could be fully repaid from recoveries before
the legal final maturity date.  However, in line with S&P's credit
stability criteria, it has lowered to 'B (sf)' from 'BB (sf)' its
rating on the class A1 notes to reflect the risk of a payment
default if the shortfall persists over the coming quarters.

The class A2 notes have also experienced interest shortfalls.  In
accordance with S&P's imputed promises criteria, it has not
lowered its rating on this class to 'D (sf)' because S&P's
analysis shows that the shortfall could be fully repaid from
recoveries before the legal final maturity date.  However, S&P has
lowered to 'CCC (sf)' from 'B (sf)' its rating in line with its
criteria for assigning 'CCC' category ratings, to reflect the
higher risk of payment default (see "Criteria For Assigning
'CCC+', 'CCC', 'CCC-', And 'CC' Ratings," published on Oct. 1,
2012).  S&P believes that the repayment of this class of notes is
dependent upon favorable business, financial, or economic

S&P also believes this class of notes faces at least a one-in-two
likelihood of default.

The class B notes have experienced interest shortfalls, which are
likely to continue in future quarters, in S&P's opinion.
Furthermore, this class of notes is vulnerable to principal losses
in S&P's 'B' rating stress scenario.  S&P has therefore lowered to
'D (sf)' from 'CCC+ (sf)' its rating on the class B notes in line
with its "Timeliness Of Payments: Grace Periods, Guarantees, And
Use Of 'D' And 'SD' Ratings" criteria, published on Oct. 24, 2013.

S&P has also affirmed its 'D (sf)' ratings on the class C, D, E,
and F notes.  These classes of notes have experienced continued
interest shortfalls.  The class E notes have a non-accruing
interest (NAI) amount of EUR74,000 allocated to them and the class
F notes have NAI amounts fully allocated to them.

Taurus CMBS (Pan-Europe) 2007-1 is a pan-European conduit
transaction that closed in August 2007.  Initially backed by 13
loans, the transaction is now backed by three loans secured on 30
commercial properties in Germany and France.


Taurus CMBS (Pan-Europe) 2007-1 Ltd.
CHF.1 mil, EUR549.95 mil commercial mortgage-backed floating-rate

                             Rating       Rating
Class      Identifier        To           From
A1         XS0305732181      B (sf)       BB (sf)
A2         XS0309194248      CCC (sf)     B (sf)
B          XS0305744608      D (sf)       CCC+ (sf)
C          XS0305745597      D (sf)       D (sf)
D          XS0305746215      D (sf)       D (sf)
E          XS0309195567      D (sf)       D (sf)
F          XS0309195997      D (sf)       D (sf)


ALTICE SA: Moody's Puts 'B1' CFR Under Review for Downgrade
Moody's Investors Service placed the B1 Corporate Family Rating
and the B1-PD Probability of Default Rating of Altice S.A. and the
B1 CFR/B1-PD PDR ratings of Altice International S.a.r.l. its
subsidiary under review for downgrade. The B3 debt ratings of
senior notes at Altice, the B1 senior secured debt ratings at
Altice International's Altice Financing S.A. financing subsidiary
and the B3 senior notes ratings at Altice Finco S.A., another
financing vehicle of Altice International were also placed under
review for downgrade.

The rating actions follow the announcement that Altice has signed,
through its Altice US Holdings I S.a.r.l. and Altice US Holdings
II subsidiaries a binding agreement to purchase 70% of the equity
of Cequel Corporation for a purchase price that reflects an
enterprise value of around USD9 billion or around 10x the
company's LTM EBITDA. Cequel, which operates as "Suddenlink" is
the 7th largest cable operator in the US and is rated B1, under
review for downgrade by Moody's at the Cequel Communciations I LLC
intermediate holdco level. The transaction remains subject to
regulatory approval and completion is expected for the fourth
quarter of 2015. Funding for the transaction includes USD500
million in vendor financing, which Moody's regards as debt.
Initial post transaction leverage at Suddenlink will be very high
at around 8x Debt/EBITDA (as calculated by Moody's). However,
Moody's acknowledges that Altice's intention to designate
Suddenlink as an "unrestricted subsidiary" will limit, but not
completely eliminate potential support for the transaction from
within Altice's existing borrowing groups under existing

The reviews for downgrades are triggered by the continued fast
pace of Altice's acquisition activity with the Suddenlink
acquisition announcement following Altice's acquisition of French
telecoms operator SFR, completed at the end of 2014 and Portugal's
national telecom operator, Portugal Telecom, expected to close by
the end of the current quarter and the attendant management,
coordination and integration risks as well as the company's stated
appetite for further large scale acquisitions.

Against this background, Moody's review will assess (i) the
further increased business and overall financial risks from the
company's continuous acquisition activity, (ii) risks from
entering a new market with different operational characteristics
from Altice's existing operations on a large scale, (iii) the
impact of the acquisition activity on expectations of deleveraging
that are factored into Moody's current ratings and on the group's
liquidity and (iv) the potential for Altice International to
participate in the funding of the Altice group's equity
contribution to the Suddenlink transaction, for which there is
some potential under existing indentures. The review will also
consider the benefits that further scale and scope and geographic
diversification could bring to Altice's business as well as sound
execution progress within existing operations reported with the
group's results for the first quarter of 2015.

Moody's had previously stated that Altice's ratings could be
downgraded if amongst other things the company's Debt/EBITDA ratio
(as defined by Moody's) is not maintained at or below 5.5x and
those of Altice International would come under downgrade pressure
if the ratio exceeds 5.0x or as a consequence of further material
acquisitions. As the ratings for Altice and Altice International
have been placed under review for downgrade, a near-term upgrade
of the CFR is unlikely to occur. That said, over time positive
pressure on Altice's ratings could develop, if company's leverage
were to fall to well below 4.5x (on a fully-consolidated basis) on
a sustainable basis combined with visible levels of free cash flow
generation. A leverage level sustained well below 4.0x and
evidence of visible levels of free cash flow generation could lead
to upgrade pressure on Altice International.

The principal methodology used in these ratings was Global Pay
Television - Cable and Direct-to-Home Satellite Operators
published in April 2013. Other methodologies used include Loss
Given Default for Speculative-Grade Non-Financial Companies in the
U.S., Canada and EMEA published in June 2009.

Altice S.A. is a Luxembourg-based holding company, which through
its subsidiaries Numericable-SFR S.A. and Altice International
S.a.r.l. operates a multinational telecommunications and cable
business. Numericable-SFR operates in France while Altice
International currently has a presence in four regions --
Dominican Republic, Israel, Western Europe and the French Overseas
Territories. The company is controlled indirectly by French
entrepreneur Patrick Drahi.


CADOGAN SQUARE VI: Fitch Rates Two Note Classes 'B-(EXP)sf'
Fitch Ratings has assigned Cadogan Square CLO VI B.V.'s notes
expected ratings as follows:

Class A-1: 'AAA(EXP)sf'; Outlook Stable
Class A-2: 'AAA(EXP)sf'; Outlook Stable
Class A-3: 'AAA(EXP)sf'; Outlook Stable
Class B-1: 'AA(EXP)sf'; Outlook Stable
Class B-2: 'AA(EXP)sf'; Outlook Stable
Class B-3: 'AA(EXP)sf'; Outlook Stable
Class C-1: 'A(EXP)sf'; Outlook Stable
Class C-2: 'A(EXP)sf'; Outlook Stable
Class D-1: 'BBB(EXP)sf'; Outlook Stable
Class D-2: 'BBB(EXP)sf'; Outlook Stable
Class E-1: 'BB(EXP)sf'; Outlook Stable
Class E-2: 'BB(EXP)sf'; Outlook Stable
Class F-1: 'B-(EXP)sf'; Outlook Stable
Class F-2: 'B-(EXP)sf'; Outlook Stable
Class M-1: not rated
Class M-2: not rated

The assignment of the final ratings is contingent on the receipt
of final documents conforming to information already reviewed.

Cadogan Square CLO VI B.V. is a cash flow collateralized loan
obligation (CLO).


Unhedged FX Exposure
The manager may invest up to 10% in unhedged sterling obligations,
which are naturally hedged by 5% in sterling liabilities. It may
also invest up to 5% in unhedged and FX forward hedged non-euro
assets not denominated in sterling. The total amount of unhedged
and principal hedged obligations cannot be more than 10%. Unhedged
assets other than sterling may only be purchased if after a
haircut of 50%, the portfolio notional is still above target par.

Portfolio Credit Quality

Fitch has public ratings or credit opinions on 105 of the 109
obligors in the identified portfolio and expects the average
credit quality to be in the 'B' to 'B-' range. The weighted
average rating factor of the identified portfolio is 33.94.

High Expected Recoveries

At least 90% of the portfolio will comprise senior secured
obligations. Fitch has assigned Recovery Ratings to 105 of the 109
obligations. The weighted average recovery rating of the
identified portfolio is 71.1%.

Diversified Asset Portfolio

Unlike other post-crisis transactions, this deal contains a
covenant that limits the top 10 obligors in the portfolio to 20%
of the portfolio balance. This ensures that the asset portfolio
will not be exposed to excessive obligor concentration.


Cadogan Square CLO VI B.V. (the issuer) is a cash flow
collateralized loan obligation (CLO). Net proceeds from the
issuance of the notes will be used to purchase an equivalent
EUR400 million portfolio of either sterling- or euro-denominated
leveraged loans and bonds. The transaction features a four-year
reinvestment period and the portfolio will be managed by Credit
Suisse Asset Management Limited.

The transaction documents may be amended subject to rating agency
confirmation or noteholder approval. Where rating agency
confirmation relates to risk factors, Fitch will analyse the
proposed change and may provide a rating action commentary if the
change has a negative impact on the then current ratings. Such
amendments may delay the repayment of the notes as long as Fitch's
analysis confirms the expected repayment of principal at the legal
final maturity.

If in the agency's opinion the amendment is risk-neutral from a
rating perspective, Fitch may decline to comment. Noteholders
should be aware that the structure considers the confirmation to
be given if Fitch declines to comment.


A 25% increase in the expected obligor default probability would
lead to a downgrade of one to three notches for the rated notes.

A 25% reduction in expected recovery rates would lead to a
downgrade of one to four notches for the rated notes.

CAIRN CLO V: Fitch Assigns 'B(EXP)sf' Rating to Class F Notes
Fitch Ratings has assigned Cairn CLO V B.V. expected ratings, as:

Class A: 'AAA(EXP)sf'; Outlook Stable
Class B-1: 'AA(EXP)sf'; Outlook Stable
Class B-2: 'AA(EXP)sf'; Outlook Stable
Class C: 'A(EXP)sf'; Outlook Stable
Class D: 'BBB(EXP)sf'; Outlook Stable
Class E: 'BB(EXP)sf'; Outlook Stable
Class F: 'B(EXP)sf'; Outlook Stable
Subordinated notes: not rated

The assignment of the final ratings is contingent on the receipt
of final documents conforming to information already reviewed.

Cairn CLO V B.V. is an arbitrage cash flow collateralized loan
obligation (CLO).


'B'/'B-' Portfolio Credit Quality

Fitch places the average credit quality of obligors in the
'B'/'B-' range.  The agency has public ratings or credit opinions
on 65 of the 67 assets in the identified portfolio.  The Fitch
weighted average rating factor (WARF) of the identified portfolio
is 32.6, below the covenanted maximum for assigning the expected
ratings of 34.5.

High Recovery Expectations

The portfolio will comprise a minimum 90% of senior secured
obligations.  Fitch has assigned Recovery Ratings to 65 of the 67
assets in the identified portfolio.  The weighted average recovery
rate (WARR) of the identified portfolio is 68.6%, above the
covenanted minimum for assigning expected ratings of 68%.

Partial Interest Rate Hedge

Between 0% and 5% of the portfolio can be invested in fixed-rate
assets, while fixed-rate liabilities account for 2.3% of the
target par amount.  At closing the issuer will enter into interest
rate caps to hedge the transaction against rising interest rate.
The notional of the caps is EUR10 million, representing 3.3% of
the target par amount, and the strike rate is fixed at 4%.  The
caps will expire five years after the closing date.

Diversified Asset Portfolio

The transaction documents provide the investment manager with the
flexibility to choose different obligor concentration covenants
within the portfolio.  The covenanted maximum exposure to the top
10 obligor for assigning the expected ratings is 20% of the
portfolio balance.  This covenant ensures that the asset portfolio
will not be exposed to excessive obligor concentration.  The
manager will then have the flexibility to trade obligor
concentration in the portfolio against credit quality (WARF and
WARR covenants) and excess spread (weighted average spread and
weighted average coupon covenants).


Net proceeds from the notes issue will be used to purchase a
EUR300m portfolio of mostly European leveraged loans and bonds.
The portfolio is managed by Cairn Loan Investments LLP.  The
reinvestment period is scheduled to end in 2019.

The transaction documents may be amended subject to rating agency
confirmation or noteholder approval.  Where rating agency
confirmation relates to risk factors, Fitch will analyze the
proposed change and may provide a rating action commentary if the
change has a negative impact on the ratings.  Such amendments may
delay the repayment of the notes as long as Fitch's analysis
confirms the expected repayment of principal at the legal final

If in the agency's opinion the amendment is risk-neutral from a
rating perspective Fitch may decline to comment.  Noteholders
should be aware that confirmation is considered to be given if
Fitch declines to comment.


A 25% increase in the obligor default probability would lead to a
downgrade of up to two notches for the rated notes.  A 25%
reduction in expected recovery rates would lead to a downgrade of
up to four notches for the rated notes.

GBP: Wants Liquidation; Seeks Solution for Pensions Provision
Leen Preesman at Investment & Pensions Europe reports that GBP,
the EUR50 million industry-wide pension fund for the wholesale
flowers and plants sector in the Netherlands, has said it wants to
liquidate itself and is urgently seeking an alternative solution
for the pensions provision for its 6,500 participants.

Gerard Roest, employees' chairman, told IPE: "We are too small to
continue independently.  Our administration costs of EUR285 are
too high and still rising."

An additional problem is that the EUR424 billion asset manager APG
unilaterally cancelled its contract at the end of 2014, as it
considered GBP too small, according to Mr. Roest, the report

As a consequence, GBP has temporarily placed its assets with a
money market fund at NN Investment Partners, "where it is risk-
free, indeed, but hardly generates a return either," the chairman
said, according to IPE.

Mr. Roest said the pension fund and social partners were looking
at the options, including joining an insurer or the new pensions
vehicle PPI, the report notes.

But Mr. Roest said the pension fund preferred joining a larger
industry-wide scheme, the report discloses.

So far, negotiations with other schemes have failed to produce a
result, mainly because they assessed the risk of taking in GBP as
too high, according to the chairman, the report says.

"As we are a non-mandatory scheme," he said, "we can't guarantee
that all our affiliated employers will join a new pension fund,"
the report quoted Mr. Roset as saying.

"As we don't have much financial margin to increase our premium,
joining another industry-wide scheme with a more expensive pension
plan is difficult," Mr. Roest said, the report notes.

GBP however is financially in good shape, according to the report.

According to the chairman, the official policy funding stood at
123%, and the pension fund had been able to grant indexation every
year so far, the report adds.

GBP, established in 2007, has an individual defined contribution
plan and a contribution of approximately 14% of the pensionable


PETROLEUM GEO-SERVICES: Moody's Cuts CFR to Ba3, Outlook Negative
Moody's Investors Service downgraded Petroleum Geo-Services ASA's
corporate family rating to Ba3 from Ba2 and probability of default
rating to Ba3-PD from Ba2-PD. Concurrently, Moody's has also
downgraded the ratings on the senior notes and the senior secured
bank credit facilities to Ba3 from Ba2. The rating outlook remains

The rating action reflects Moody's expectations that the seismic
industry will remain weak for an extended period of time with
limited visibility around a potential recovery. Despite the
capacity reductions in the industry, Moody's expects the market to
remain oversupplied as oil companies scale back their exploration
spending following the sharp fall in oil prices.

Moody's expects bottom-of-cycle margins in contract seismic due to
further pricing pressures and low level of vessel active time
because of higher idle time and/or steaming time between two jobs.
In multi-client surveys, Moody's expects late sales to remain
difficult to predict as customers delay purchases while pre-
funding rate for new surveys should be in line with the company's
target level of 100% or above.

As a result, PGS's leverage as measured by Debt / EBITDA minus
multi-client amortization is expected to continue to rise in 2015
with limited visibility on deleveraging prospects in 2016. For the
last twelve months ending March 2015, PGS's leverage stood at

More positively, the Ba3 corporate family rating also incorporates
PGS's size and scale, its leading market position, its geographic
diversification, and its high quality fleet.

Additionally, PGS's rating reflects the company's strong balance
sheet and continuous prudent financial policies which have led to
a manageable debt maturity profile. PGS's liquidity profile is
adequate with, as of 31 March 2015, cash balance of approximately
USD148 million and USD410 million available under its RCF maturing
in 2018. Moody's expects the company to continue to generate
negative free cash flow in 2015 and 2016. Capital expenditures
will spike in 2016 due to the delivery of the last two Ramform
Titan-class vessels, which will be partially funded by committed
export credit facilities.

The negative outlook reflects the continued softening of market
conditions combined with the lack of visibility around an eventual

A downgrade of the CFR could occur in the event of limited
improvement in operating performance, resulting in Moody's
expectation that leverage will remain sustainably over 5.0x and/or
weakening liquidity position.

The outlook could be stabilized following improvement in market
conditions and operating performance. Over time, the rating could
be upgraded if leverage falls towards 3.0x on a sustained basis
and the company maintains a solid liquidity profile. Any potential
upgrade would also include an assessment of market conditions.

The principal methodology used in these ratings was Global
Oilfield Services Industry Rating Methodology published in
December 2014. Other methodologies used include Loss Given Default
for Speculative-Grade Non-Financial Companies in the U.S., Canada
and EMEA published in June 2009.

Headquartered in Norway, Petroleum Geo-Services ASA is a
technologically leading oilfield services company specializing in
reservoir and geophysical services, including seismic data
acquisition, processing and interpretation, and field evaluation.
PGS maintains an extensive multi-client seismic data library. For
the year ended December 31, 2014, PGS reported revenues of $1.45


GETIN NOBLE: Moody's Confirms 'Ba2' Long-Term Deposit Rating
Moody's Investors Service has concluded its rating reviews on 10
banks in Poland. The reviews, initiated on March 17, 2015,
followed the introduction of the rating agency's revised bank
rating methodology published on March 16, 2015.

In light of the revised banking methodology, Moody's rating
actions generally reflect the following considerations (1) the
"Strong -" macro profile of Poland (A2 stable); (2) the banks'
adequate core financial ratios; (3) the protection offered to
senior creditors by substantial volumes of deposits, and in some
cases also by the subordination of some bail-in-able securities,
as captured by Moody's Advanced Loss Given Failure (LGF) liability
analysis; and (4) Moody's view of a decline in the likelihood of
government support for some institutions.

Among the rating actions that Moody's has taken on the Polish
banks are the following:

-- Seven long-term bank deposit ratings upgraded, one affirmed,
    one confirmed and one downgraded

-- Four short-term bank deposit ratings upgraded, one affirmed
    and one downgraded

-- One bank senior unsecured debt rating downgraded and one

-- Three baseline credit assessments (BCAs) affirmed and two

Moody's has assigned stable outlooks to the deposit and debt
ratings of the affected banks, and changed to stable from negative
the outlook on the deposit ratings of Powszechna Kasa Oszczednosci
Bank Polski S.A.

Moody's has also assigned Counterparty Risk assessments to 11
Polish banks, in line with its revised bank rating methodology.
This includes Bank Polska Kasa Opieki S.A., whose ratings were not
on review.

A list of the affected credit ratings is available at

The new methodology includes several elements that Moody's has
developed to help accurately predict bank failures and determine
how each creditor class is likely to be treated when a bank fails
and enters resolution. These new elements capture insights gained
from the crisis and the fundamental shift in the banking industry
and its regulation.


Polish banks' operations are concentrated domestically, so they
benefit from Poland's supportive macroeconomic environment,
characterized by very high economic and institutional strength, as
well as moderate susceptibility to event risk.


The Polish banks' BCAs (average asset-weighted BCA is baa3)
reflect their adequate core financial ratios, including a moderate
level of problem loans in aggregate, good capital ratios,
satisfactory profitability and good liquidity metrics. However,
the banks' BCAs range widely from baa1 to b1, with the differences
reflecting long-term execution of each bank's business plan, which
has resulted in variations in their performance volatility and
financial fundamentals, and in the strength of their market
presence in Poland. In addition, the banks' BCAs also reflect the
different size of foreign-currency mortgage portfolios, that carry
high contingent credit risk. The latter factor also forces banks
to rely on their foreign parent banks and/or derivative and
wholesale markets for funding (see below for the analytical
considerations for the individual banks covered in this press


Under its new methodology, Moody's applies its Advanced LGF
analysis to the liability structures of banks subject to
operational resolution regimes. Moody's expects that Poland, as a
member of the European Union, will introduce bank resolution
legislation in line with the EU Bank Recovery and Resolution
Directive (BRRD). Accordingly, Moody's applies its Advanced LGF
analysis to these banks' liability structures. This analysis
results generally in "very low" loss given failure for long-term
deposits, taking into account the banks' substantial volume of
deposit funding. For senior unsecured debt, Moody's has assessed a
"low" loss given failure additionally taking into account the
amount of senior debt and securities more subordinated to it.


Deposit and senior unsecured debt ratings now range from A2 to
Ba2. The lowering of Moody's government support assumptions
reflects the reduced likelihood of support being forthcoming
within the context of the expected implementation of the new bank
recovery and resolution legislation. The negative effect on the
banks' ratings from a decline in the expectation of government
support has in most cases been counterbalanced by the low loss
assumptions under Moody's Advanced LGF framework.


Powszechna Kasa Oszczednosci Bank Polski S.A.:

The affirmation of the bank's deposit ratings at A2/Prime-1, with
a change in outlook to stable from negative, reflects the
affirmation of the bank's BCA at baa2 and the Advanced LGF
analysis that provides two notches of uplift from the bank's BCA
and offsets reduced government support assumptions. Powszechna
Kasa Oszczednosci Bank Polski benefits from a large volume of
deposits, and limited senior and subordinated debt, resulting in
very low loss given failure. However, because of the expected
implementation of resolution legislation, Moody's has lowered its
government support assumptions for the bank to "moderate", leading
to one notch of uplift from support, from "very high" and three
notches previously.

The downgrade of the bank's senior unsecured debt rating to A3
from A2 takes into account the Advanced LGF analysis and Moody's
reduced assumption regarding the likelihood of government support.
The Advanced LGF analysis, which also takes into account the
bank's volume of senior debt and the volume of securities
subordinated to it in Moody's creditor hierarchy, results in a low
loss given failure and provides one notch of uplift from the
bank's BCA of baa2. However, this does not fully offset the
decrease in government support assumptions to one notch of uplift
from three notches previously.

The affirmation of the bank's BCA at baa2 reflects the bank's
improved capitalization and asset quality, and its continued good
profitability levels. The bank's problem loan ratio decreased to
6.8% at end-March 2015 from 8.1% at end-March 2014, which is below
the Polish average of 7.5% at end-March 2015, and compares
favorably to those of its rated peers. The bank's problem loan
coverage also improved, to 62.8% at end-March 2015 from 52.5% at
end-March 2014. In addition, the bank benefits from an improvement
in capitalization (Tangible Common Equity (TCE) at 12.3% of risk-
weighted assets at end-2014). This capital ratio includes the
expectation that the bank's shareholders will confirm in the
coming weeks the full retention of the 2014 profit in line with
the recommendation received from the Polish regulator for banks
exposed to the risks of Swiss franc mortgage loans.

Bank Zachodni WBK S.A.:

The upgrade of the bank's long-term deposit rating to A3 from Baa1
is due to the Advanced LGF analysis that provides two notches of
uplift from the bank's adjusted BCA of baa2 (BCA is baa3) and
offsets reduced government support assumptions. Bank Zachodni WBK
benefits from a large volume of deposits, and limited senior and
subordinated debt, resulting in very low loss given failure.
However, because of the expected implementation of resolution
legislation, Moody's has lowered its government support
assumptions for the bank to "low", leading to no uplift from
support, from "high" and one notch previously.

mBank S.A.:

The upgrade of the bank's deposit ratings to Baa2/Prime-2 from
Baa3/Prime-3 is due to the Advanced LGF analysis that provides two
notches of uplift from the bank's adjusted BCA of ba1 (BCA is ba2)
and offsets reduced government support assumptions. mBank benefits
from a large volume of deposits, and limited senior and
subordinated debt, resulting in very low loss given failure.
However, because of the expected implementation of resolution
legislation, Moody's has lowered its government support
assumptions for the bank to "low", leading to no uplift from
support, from "high" and one notch previously.

The bank's senior unsecured debt rating was confirmed at Baa3,
with a stable outlook, and reflects the Advanced LGF analysis
which provides one notch of uplift from the bank's adjusted BCA of
ba1 and offsets the lower likelihood of government support to no
uplift from one notch previously.

ING Bank Slaski S.A.:

The upgrade of the bank's long-term deposit rating to A3 from Baa1
is due to the Advanced LGF analysis that provides two notches of
uplift from the bank's adjusted BCA of baa2 (BCA is baa3) and
offsets reduced government support assumptions. ING Bank Slaski
benefits from a large volume of deposits, resulting in very low
loss given failure. However, because of the expected
implementation of resolution legislation, Moody's has lowered its
government support assumptions for the bank to "low", leading to
no uplift from support, from "high" and one notch previously.

Getin Noble Bank S.A.:

The confirmation of the bank's long-term deposit rating of Ba2
incorporates the lowering of the BCA to b1 and the Advanced LGF
analysis that provides two notches of uplift from the bank's BCA
and offsets reduced government support assumptions. Getin Noble
Bank benefits from a large volume of deposits, and limited senior
and subordinated debt, resulting in very low loss given failure.
However, because of the expected implementation of resolution
legislation, Moody's has lowered its government support
assumptions for the bank to "low", leading to no uplift from
support, from "moderate" and one notch previously.

The lowering of the bank's BCA to b1 from ba3 reflects the bank
ongoing asset-quality and profitability challenges. In Moody's
opinion, Getin Noble Bank continues to carry significant balance-
sheet risk related to the amount of problem loans relative to
reserves and capital, which reached an historical high of 77.7% at
year-end 2014. In addition, following a recommendation from the
Polish regulator, the bank included an additional category of
loans with weak evidence of impairments in its overall non-
performing loan ratio, which reached 16% at end-March 2015 from
13.1% at end- 2014.

Bank Millennium S.A.:

The upgrade to the bank's long-term deposit rating to Ba1 from Ba2
is due to the Advanced LGF analysis that provides three notches of
uplift from the bank's BCA of b1 and offsets reduced government
support assumptions. Bank Millennium benefits from a large volume
of deposits, some senior and subordinated debt, and Moody's
assumption of higher residual Tangible Common Equity (TCE) at
failure owing to the failure risks associated with a significantly
weaker parent, Banco Comercial Portugues S.A. (deposits B1 under
review for downgrade; BCA caa2), resulting in extremely low loss
given failure. However, because of the expected implementation of
resolution legislation, Moody's has lowered its government support
assumptions for the bank to "low", leading to no uplift from
support, from "high" and two notches previously.

Bank Handlowy w Warszawie S.A.:

The upgrade of the bank's deposit ratings to A3/Prime-2 from
Baa3/Prime-3 is due to a combination of the affirmation of the BCA
at baa3, the higher adjusted BCA of baa2 from baa3 reflecting
affiliate support, as well as the Advanced LGF analysis that
provides two notches of uplift from the bank's adjusted BCA. Bank
Handlowy w Warszawie benefits from a large volume of deposits,
resulting in very low loss given failure.

The higher adjusted BCA reflects Moody's view of moderate
likelihood of extraordinary affiliate support from Citibank N.A.
(Citi; deposits A2 under review for upgrade; BCA baa2) in case of
need, given the brand association and common client base. This
results in one notch of uplift for the adjusted BCA of baa2 from
the BCA of baa3. With its ownership of 75% of the bank, Citi
considers that Poland is a growing market with a track record of
good profitability and a well-established presence in the large
corporate segment, which is in line with its business strategy.

The affirmation of the bank's BCA at baa3 reflects the bank's
consistently high capital ratios, strong profitability, and good
liquidity base. The BCA is constrained, however, by the bank's
relatively specialized corporate business profile compared to
higher rated universal peers, which presents intrinsically higher
volatility on profitability and funding.

Bank Gospodarki Zywnosciowej S.A.:

The upgrade of the bank's deposit ratings to Baa2/Prime-2 from
Baa3/Prime-3 is due to the affirmation of the bank's BCA of ba2
and the Advanced LGF analysis that provides one notch of uplift
from the bank's adjusted BCA of baa3. Moody's estimates that the
bank, after the merger with BNP Paribas Bank Polska (not rated),
benefits from a moderate volume of deposits, resulting in low loss
given failure.

The affirmation of the bank's BCA at ba2 follows the merger of the
bank with BNP Paribas Bank Polska on April 30, 2015. The banks
have complementary operations and market presence, and Moody's
says that the new combined bank (named Bank BGZ BNP Paribas S.A.)
is likely to benefit in terms of a stronger competitive position
in the market, increased business diversification and an expanded
branch network.

The affirmation of the BCA also reflects Moody's view of the new
combined bank's relatively good capital and liquidity profile, as
well as its low profitability and efficiency compared to the
average of the Polish banking sector. Moody's believes the
expected benefits from the merger, particularly in terms of cost
synergies, will become more visible between 2016 and 2017.

Bank BPH S.A.:

The downgrade of the bank's deposit ratings to Ba2/Not-Prime from
Baa3/Prime-3 is driven by the lowering of the BCA to ba3 from ba2,
a lower expectation of affiliate support further lowering the
adjusted BCA to ba2 from baa3, and the Advanced LGF analysis that
provides no uplift from the bank's adjusted BCA. Bank BPH has a
modest volume of deposits, resulting in moderate loss given

The lowering of the bank's BCA to ba3 from ba2 reflects the bank's
high contingent asset and capital risk deriving from its large
Swiss franc-denominated mortgage portfolio (over 55% of total
loans at end-March 2015), and its very weak profitability and
efficiency compared to the average of the Polish banking sector.
The BCA is supported, however, by the current level of long-term
funding commitment - until 2021 - from its parent General Electric
Capital Corporation (GECC; A1 stable).

The lower adjusted BCA of the bank reflects the bank's lower BCA
and Moody's lowered assumptions of extraordinary affiliate support
to "moderate", leading to one notch of uplift from support, from
"high" and two notches previously. This change reflects the GECC's
only shareholder (General Electric Company) announcement, in April
2015, that it plans to dispose of most of the assets of GECC over
the next three years, thus reinforcing its intention to dispose of
Bank BPH, which was already announced in October 2014.

Credit Agricole Bank Polska S.A.:

The upgrade of the bank's deposit ratings to Baa1/Prime-2 from
Baa3/Prime-3 is due to the Advanced LGF analysis that provides two
notches of uplift from the bank's adjusted BCA of baa3 (BCA is
ba2). Credit Agricole Bank Polska benefits from a large volume of
deposits, and limited senior debt, resulting in very low loss
given failure.

Moody's has also assigned CR assessments to 11 Polish banks. CR
Assessments are opinions of how counterparty obligations are
likely to be treated if a bank fails and are distinct from debt
and deposit ratings in that they (1) consider only the risk of
default rather than the likelihood of default and the expected
financial loss suffered in the event of default; and (2) apply to
counterparty obligations and contractual commitments rather than
debt or deposit instruments. The CR Assessment is an opinion of
the counterparty risk related to a bank's covered bonds,
contractual performance obligations (servicing), derivatives
(e.g., swaps), letters of credit, guarantees and liquidity

The CR assessments for the 11 Polish banks are three notches above
their adjusted BCAs, and reflect the seniority of the counterparty
obligations and the volume of liabilities subordinated to them
under Moody's Advanced LGF framework.

Upward rating momentum on the 10 banks' ratings could develop from
(1) a sustained improvement in profitability; (2) materially
stronger capital positions; and (3) a significant reduction in
Swiss franc mortgage loans for the banks that are more exposed to
this asset class.

Downward rating pressure could emerge if (1) credit underwriting
standards deteriorate noticeably; (2) current revenue and
profitability pressures intensify; (3) macroeconomic environment
deteriorates such that unemployment rises and the Polish real-
estate market weakens; and (4) the Polish zloty materially weakens
against the Swiss franc for the banks that are more exposed to
Swiss franc mortgage loans.

The principal methodology used in these ratings was Banks
published in March 2015.

INTRALOT SA: Fitch Affirms B+ Issuer Default Rating, Outlook Neg
Fitch Ratings has affirmed Intralot S.A.'s Long term issuer
Default Rating (IDR) at 'B+; with a Negative Outlook.  Fitch has
also affirmed Intralot Finance Luxembourg S.A.'s EUR325m 9.875%
senior notes due 2018 and Intralot Capital Luxembourg S.A.'s
EUR250 million 6% senior notes due 2021 at 'BB-/RR3'.  Both bonds
are guaranteed by Intralot.

The ratings reflect the large geographical spread of Intralot's
licensed operations and management contracts, which provide
visibility of revenues and EBITDA profits over the next three

However, Intralot is facing increased competition and lower
operating margins, which together with higher interest costs,
payments to minorities and capex, will leave free cash flow (FCF)
modest to negative.  This, coupled with significant negative carry
due to the cash deposits built up from a 2014 bond issue and
subsequent drawdown of the EUR120 million RCF facility, means that
funds from operations (FFO) gross leverage will remain above the
guideline for a 'B+' IDR rating, which is reflected in the
Negative Outlook.  The Outlook could be revised to Stable, subject
to a stabilization of EBITDA margin and a return to a more
efficient financial structure


Increased Risks from Overseas Expansion

Intralot has been expanding successfully in new geographies such
as Azerbaijan and increasingly becoming a licensee itself as
national gaming markets liberalize.  However, as new projects
require upfront investment, the company is increasingly becoming a
full-scale operator in new geographies.  This exposes it to
greater risks and potentially lower margins as competition
increases, particularly as governments worldwide tighten up
contract terms.

Rising Gross Leverage

Gross leverage will remain at around 6.0x in 2015 and 2016, due to
only moderate positive cash-flow generation.  Net leverage will,
however, remain around 3.0x during the same period and in line
with Fitch's guidelines.  The decision to retain as cash buffer a
EUR100 million portion of the proceeds of the EUR250 million 2021
bond issue adversely affected gross credit metrics.  This has been
exacerbated by the drawdown of EUR120 million under the RCF
facility and by placing the funds outside Greece due to the
company's concerns towards the liquidity of its Greek lending

Limited Linkage with Greece

Intralot generates less than 3% of its revenues and less than 10%
of its EBITDA in Greece.  Fitch views the recent downgrade of
Greece's sovereign ratings to 'CCC' as neutral for Intralot's
ratings given its contractual requirement to maintain large
portions of its cash outside Greek banks and its manageable
refinancing risk, with no debt maturity until 2017.  In the event
of a sovereign default including Greece's exit from the euro, the
company has contingency plans in place that they could complete
within a three-month period.

Recurring Contract EBITDA

Recurring revenues from contracts with EBITDA-weighted average
life of four to five years generate a core EUR160 million EBITDA
(around 90% of total).  Due to the high switching costs of
changing suppliers, many of the contracts should be renewed,
albeit possibly with lower margins and requiring an upfront
renewal fee.

Reputable Gaming Technology Supplier

Intralot has established itself in the international gaming sector
as a reputable provider of, among other products, systems to
manage lotteries through software platforms and hardware
terminals.  This has enabled it to win important contracts for the
supply of technology and for the management of lotteries in the US
and Greece and for sports-betting in Turkey and Greece.

Scope for Growth

The gradual liberalization of gaming markets, governments' intent
on finding ways to raise tax proceeds from gaming by eliminating
unregulated betting and an increasing supply of new games, should
all provide increasing opportunities for Intralot.  The company
should be able to leverage on its experience and reputation and
also benefit from a limited number of reputable suppliers in the

Adequate Liquidity

Liquidity has significantly strengthened with the issue in April
2014 of EUR250m 2021 senior unsecured notes and the company's
FYE14 cash balances of over EUR400m.  The improvement was
underpinned by a successful bank re-financing in May 2014,
comprising a EUR120m RCF facility and a EUR80m term loan extended
to 2017.

Low FCF Generation

Intralot will generate modest cash flow in aggregate in 2015 and
2016 as it maintains capex at 2014 levels and high minority
distributions.  Cash flow is absorbed by approximately EUR30
million of annual minority dividend distributions arising from 25%
of EBITDA linked to joint ventures but which does not belong to
Intralot (although fully consolidated).  Any debt repayment should
therefore come from cash deposits rather than cash flow.


Future developments that may, individually or collectively, lead
to a negative rating action include:

   -- Evidence that new contracts or renewals are occurring at
      materially less favorable conditions for Intralot, such as
      lower EBITDA margins of under 9%, large upfront concession
      fees or capex outlays.

   -- FFO-based net lease adjusted leverage sustainably above
      4.0x (FFO gross lease adjusted leverage above 5.0x) (2014:

   -- FFO fixed charge cover below 2.0x. (2014: 2.0x)

   -- Material reduction in liquidity without a commensurate
      reduction in gross leverage.

Future developments that may, individually or collectively, lead
to a revision of the Outlook to Stable include:

   -- Positive EBITDA growth derived from a stronger return on
      capital on existing and future contracts with limited capex

   -- FFO-based net lease adjusted leverage reducing sustainably
      below 3.5x (FFO gross lease adjusted leverage below 4.5x),
      with cash deposited predominantly at investment grade-rated

   -- FFO fixed charge cover around 3.0x, unaided by favorable
      interest carry.

   -- Evidence of sustained positive FCF generation.


In response to the Greek debt crisis and to protect its liquidity
position, Intralot fully drew on its syndicated RCF (EUR120
million) maturing May 2017, which was extended by three years in
2014. There are no bond maturities until August 2018, when the
EUR325 million unsecured notes mature.


Fitch's key assumptions within our rating case for the issuer

   -- Revenue visibility to remain steady with growth of around
      6.5% in 2015.

   -- Currency impact and margin pressure to continue with EBITDA
      margin remaining at around 9% before increasing to 9.8% by

   -- Minority dividends representing around 50% of EBITDA
      contribution deducted from FFO.

   -- Working capital modestly includes some variability for new
      contracts, which have higher costs up front.

   -- Capex for maintenance and growth, all of which includes
      renewal of license fees and machines.


EURASIA DRILLING: Fitch Affirms 'BB' IDR, Outlook Stable
Fitch Ratings has affirmed Russia-based Eurasia Drilling Company
Limited's (EDC) Long-term foreign and local currency Issuer
Default Ratings (IDR) at 'BB' with a Stable Outlook.

With a 27% market share in 2014, EDC is Russia's leading drilling
company by onshore meters drilled.  Despite competitive pressures,
we expect EDC to remain the largest on-shore driller in the
country over the medium term.  Its ratings are constrained in the
'BB' category due to high customer concentration and limited
geographical diversification.  OAO LUKOIL (BBB-/Negative)
contributed 75% to EDC's revenues in 2014, up from 66% in 2013,
while the share of OJSC OC Rosneft, EDC's second-largest customer
in 2013, fell to 6% in 2014, from 19%.

The Stable Outlook reflects Fitch's expectation that despite a
weaker rouble and onshore drilling volumes EDC will maintain solid
credit metrics in 2015-2018, ie, funds from operations (FFO)
adjusted net leverage of under 1.3x (end-14: 1.0x) and FFO
interest of cover above 8.0x (end-14: 21.4x) that are sufficient
for a mid 'BB' rating category.  The Stable Outlook also reflects
the forecast improvement in business fundamentals as Fitch expects
Russian oil & gas companies to restate drilling volumes to battle
natural oil flow declines since oil prices have recovered from
their multi-year lows in January 2015.  EDC is not subject to any
Western sanctions announced to date, and we assess the impact of
sectoral oil & gas sanctions on the company as fairly limited.


Schlumberger Deal Positive Medium-Term Synergies

On Jan. 20, 2015, Schlumberger Ltd. announced it had agreed to pay
USD1.7bn for a 45.65% stake in EDC.  EDC will be de-listed from
the London Stock Exchange and thereafter Schlumberger will become
its largest single minority shareholder, while core existing
shareholders, including the company's CEO, will control the
remaining shares.  Schlumberger has an option to purchase EDC's
remaining shares during a two-year period commencing three years
from the closing of the transaction.  EDC's existing management
will stay in place for at least three years following the deal

Fitch expects that closer cooperation with Schlumberger may
improve EDC's operations and profitability over time, through
technological, operational and financial synergies.  Since 2011,
the companies have been working in Russia under a five-year
strategic alliance agreement.

On April 30, 2015, EDC announced that together with Schlumberger
it is continuing to cooperate with the Russian authorities in
relation to the transaction and that the long-stop date for
completion of the transaction has been extended to May 31, 2015.

Volumes, Rouble Hurt Performance

In 2014, EDC's total meters drilled dropped 9.5% on 2013 to 5.67m
meters, and its horizontal meters drilled were nearly flat at
1.29m meters.  EDC's 2014 revenues from drilling and related
services were down 14.4% yoy to USD2.97 billion, and its EBITDA
fell to USD836 million, 11.1% down on 2013.  In Fitch's view, the
main factors behind the weaker performance in 2014 -- lower total
drilling volumes and a sharp rouble devaluation against the US
dollar -- will continue dragging EDC's overall performance down in
2015.  EDC improved its EBITDA margin in 2014 to 28.1% from 27% in
2013 due to a higher contribution from offshore segment and cost-
cutting measures.  Fitch expects that largely flat onshore
drilling rates in 2015 and low-double-digit domestic inflation in
Russia will lead to some deterioration of EDC's onshore EBITDA
margin and a moderately lower overall EBITDA margin in 2015.

The external negative factors are mitigated to some extent by the
contribution from the company's growing offshore segment, thanks
to US dollar-denominated offshore revenues and its high EBITDA
margins.  EDC has four jack-up rigs on the Caspian sea shelf that
are deployed across the Russian, Kazakh and Turkmen sectors under
long-term contracts with several international majors and national
oil companies.  The company also performs drilling, including
extended-reach horizontal well development, and wells completion
at Lukoil's Yuri Korchagin field platform there.  In 2014, EDC's
offshore revenues amounted to USD221 million, or 7% of the total.
Fitch expects that in 2015, the offshore segment may contribute up
to 13% of EDC's gross revenues and even greater portion of EDC's

Rosneft Out, Gazprom Neft In

Following significant activity reduction from Rosneft since the
beginning of 2014, EDC's customer concentration is increasing.  In
2014 LUKOIL and JSC Gazprom Neft (GPN, BBB-/Negative) accounted
for 63% and 22% of EDC's total metres drilled, respectively.  In
2014, EDC signed a three-year framework agreement with GPN for
well construction and sidetracking.  Fitch also expects EDC and
LUKOIL to renew their three-year framework agreement that expires
in December 2015.  These long-term agreements contribute to the
stability of EDC's rouble-denominated cash flows.  While EDC is
working on expanding its customer base in Russia, Fitch forecasts
that its clientele will remain fairly concentrated over the medium

Sector Outlook Set to Improve

In 2014, Russia's crude production including condensate was up
0.7% yoy to 526.8mt, another post-1991 record.  While in 2010-2014
Russia's oil production increased by only about 1.1% p.a., the
growth in Russia's onshore drilling volumes reached 8% p.a.  To
maintain oil production, Russian companies need to continue
investing massively in exploration and development, as the output
from the country's mature brownfields, primarily in Western
Siberia, continues declining.  Bringing new oilfields on-stream
and increasing ultimate recovery at brownfields through
sidetracking (directional drilling) and fracking requires more
complex drilling, and EDC is well-positioned to capitalize on this

Brent has rebounded from the multi-year low of USD46.7 per barrel
(bbl) reached in January 2015 to over USD65/bbl in May 2015.
Using Fitch's Brent price deck of USD55/bbl in 2015, USD65/bbl in
2016, and USD80/bbl thereafter, Fitch expects that both total and
horizontal drilling volumes will pick up starting from 2016 by
high single digits p.a. as Russian oil companies are likely to re-
focus on brownfields that are exempt from western sanctions to
meet their upstream production targets.


Fitch's key assumptions within the rating case for EDC include:

   -- Drop in onshore drilling volumes in 2015 and moderate
      increase thereafter.

   -- Increases in RUB-denominated onshore drilling tariffs in
      line with changes in Russia's producer price index.

   -- The share of offshore drilling volumes increasing from 7%
      in 2014 to 11% in 2016.

   -- Stable EBITDA margin averaging 27% in 2015-2018.

   -- Average annual USD/RUB exchange rate of RUB60 per 1USD in
      2015, RUB55/USD in 2016 and RUB47.5/USD thereafter.

   -- Capex for 2015-2018 in line with the management guidance
      adjusted for RUB/USD exchange rate forecasts.

   -- 30% dividend payout ratio of consolidated net profits.


Positive: Future developments that may, individually or
collectively, lead to positive rating action include:

   -- FFO adjusted net leverage below 1.5x and FFO interest cover
      above 8x on a sustained basis.

   -- Positive free cash flows from 2015.

   -- Onshore drilling volumes up by at least 5% yoy in 2015.

   -- Better diversified customer base.

Negative: Future developments that may, individually or
collectively, lead to negative rating action include:

   -- FFO adjusted net leverage above 2.5x on a sustained basis
      due to M&A, high dividend pay-out, or weak operating


Large Repayments Over 2015-2017

As of Dec. 31, 2014, EDC needed to repay or refinance USD511
million in 2015-2017, including payments for long-term liabilities
for fixed assets and excluding interest, or 46% of its borrowings,
of which USD126 million falls due in 2015 and another USD248
million in 2016.  It has negligible repayments from 2018 until
2020 when its USD600 million Eurobond is due.  Fitch notes that
while EDC's low leverage and strong track record mean it should be
able to refinance or repay its obligations when due, a possible
escalation of Western sanctions on Russia may hamper its
refinancing activities or make new borrowings significantly more
expensive, while Russian banks and capital markets provide only
limited liquidity options.

Currency Exposure Manageable

At end-2014, USD1,031m or 91% of EDC's borrowings were US dollar-
denominated, while about two-thirds of its USD327 million in cash
was held in roubles.  Fitch notes that predominantly rouble-
denominated revenues and dollar-denominated borrowings expose EDC
to currency risks.  Although in 2015-2017 EDC's dollar-denominated
post-capex free cash flows from offshore operations fall about
USD85 million or 16% short of total debt service costs (both
principal and interest) and repayments of long-term liabilities
under the property supply contract, Fitch believes that this
shortfall is manageable as EDC should be able to refinance it or
purchase US dollars on the open market.

EDC's short-term liquidity at Dec. 31, 2014, is supported by
USD100 million of the unused committed line from Raiffeisen Bank
International AG (BBB/Negative), which could be used for general
corporate and around USD100 million of undrawn credit facilities
available for purchase of new drilling rigs.

Additional Eurobond Guarantees

EDC's operating companies (guarantors) need to provide additional
guarantees under EDC's USD600 million Eurobond documentation
within 150 days from the date of publication of its 2014 US GAAP
financial statements to ensure that these guarantors account at
least 75% of EDC's consolidated EBITDA.

Full List of Rating Actions

Eurasia Drilling Company Limited

  Long-term foreign and local currency IDRs: affirmed at 'BB';
  Stable Outlook

  Short-term foreign and local IDRs: affirmed at 'B'

  National Long-term rating: affirmed at 'AA-(rus)', Stable

OOO Burovaya Kompaniya Eurasia

  Senior unsecured rating: affirmed at 'BB'

  National senior unsecured rating: affirmed at 'AA-(rus)'

EDC Finance Limited

  Senior unsecured rating: affirmed at 'BB'

POLYUS GOLD: S&P Affirms 'BB+' CCR, Outlook Remains Negative
Standard & Poor's Ratings Services affirmed its 'BB+' long-term
corporate credit rating on Russian gold miner Polyus Gold
International Ltd.  The outlook remains negative.

In addition, S&P affirmed its issue rating on Polyus' US$750
million senior unsecured notes at 'BB+'.  The recovery rating on
these notes is unchanged at '3', indicating S&P's expectation of
meaningful recovery prospects, in the higher half of the 50%-70%
range, in the event of a payment default.

S&P expects Polyus to show an improvement in its cash flow
generation capacity, benefiting from the devaluation of the
Russian ruble and thanks to its optimization of costs and
expenditure.  This is likely to result in an improvement of the
company's stand-alone creditworthiness, in S&P's view.  However,
this has not led to a positive rating action because the rating on
Polyus continues to be capped at the level of S&P's transfer and
convertibility (T&C) assessment of Russia, which is 'BB+'.  The
cap reflects that Polyus, whose assets are in Russia, does not
currently export its products and therefore does not have access
to a steady and secure supply of hard currency receivables.

S&P views the sharp devaluation of the ruble in late 2014 and
early 2015 as a positive for the company's competitive position
and cash flow generation capacity, supported by its cost
optimization program.  For example, Polyus' unit cash cost in the
second half of 2014 was US$524 per ounce (/oz) and S&P expects it
to be US$425/oz-US$450/oz in 2015 (below US$650/oz by the more
comprehensive "all-in sustaining cost" measure).  Under this
assumption, Polyus ranks ahead of its competitors.  While the
company has some currency hedges in 2015 that would partially
offset the improvement in the unit cash cost, S&P expects Polyus
to see the full benefit of the devalued ruble from 2016.

S&P anticipates that the company's strict control over capital
expenditure (capex) will lead to neutral free operating cash flows
(FOCF) in 2015 and positive FOCF from 2016.  In this respect, S&P
sees the company's decision to review the Natalka project, and to
minimize expenses on it, positively.  S&P previously saw material
execution risk in relation to this project.  S&P understands that
the project review will be concluded by mid-2015, and that,
separately, the company is engaged in some negotiations to add
partners brought in to the project.

Under S&P's base-case scenario, it projects that Polyus' adjusted
EBITDA will be about US$700 million in 2015 and more than US$1
billion in 2016, and Standard & Poor's-adjusted funds from
operations (FFO) to debt will be above 60% in the coming years.
As a result, S&P has revised the financial risk profile of the
company upward to "modest" from "intermediate," which has resulted
in an upward revision of its stand-alone credit profile to 'bbb-'
from 'bb+'.

S&P's base-case scenario takes in these assumptions:

   -- A gold price of $1,200/oz for the rest of 2015 and 2016,
      compared with a gold price of $1,270/oz in 2014.  In
      addition, S&P assumes that the company will see a further
      US$50/oz-US$60/oz benefit from its revenue stabilizer

   -- Total attributable production of 1.6 million-1.7 million
      ounces in 2015 and 2016.  Those figures don't include the
      contribution from the Natalka project, which S&P now sees
      as less likely to arrive in the coming 18 months.  60
      rubles per U.S. dollar in 2015 and 2016 (current spot price
      is around 50 rubles).

   -- A unit cash cost of US$425/oz-US$450/oz in 2015, increasing
      slightly in 2016.  Realization of a loss amounting to a few
      hundred million U.S. dollars under its currency derivatives
      position in 2015 (in 2014, the company recorded a
      revaluation loss of US$547 million).  (The loss could
      further increase if the ruble continues to devalue above 60
      per U.S. dollar; conversely a recovery in the ruble would
      reduce the loss.)

   -- Dividends in line with the company's recently adopted
      policy of 30% of net income.  S&P assumes that special
      dividends would be restricted to the company's cash flow
      capacity, without materially affecting the net debt

As of Dec. 31, 2014, Polyus reported a net debt position of about
US$330 million, with very comfortable maturities and about Us$1.5
billion of cash on the balance sheet.  At this stage, when the
company has currency derivatives with substantial negative values,
S&P assumes that not all of the cash is fully available.  S&P
expects the company to have neutral FOCF in 2015, followed by a
significant improvement in 2016.

S&P's rating on Polyus is capped by the T&C assessment on Russia.
This takes into account the heightened risk that Polyus, whose
assets are Russia-based and which generates all of its revenues
domestically, may have restricted access to hard currency to
service its foreign currency debt and capital expenditure
requirements in a sovereign default scenario.  The company has a
limited track record of exporting its products and maintaining
cash balances in offshore accounts.

S&P assess Polyus' liquidity as "adequate" under S&P's criteria.

S&P estimates the ratio of sources to uses of liquidity to be more
than 2.0x in 2015 and in 2016.  S&P's assessment takes into
account Polyus' material cash balance and about $750 million
available credit facility from VTB Bank.  In addition, the company
has some flexibility to curb its capex (for example, on mine
expansion) and dividends, if gold prices fall.  The liquidity
assessment also takes into account Polyus' potential exposure to
the outstanding currency derivatives position in 2015.

Under S&P's base-case scenario, it projects these liquidity
sources as of Dec. 31, 2014:

   -- US$1.4 billion of cash, excluding US$100 million of cash
      that S&P estimates is not immediately available for debt

   -- More than US$800 million available under committed
      facilities, most of which relate to the VTB and Rosbank
      long-term facilities.

   -- FFO of about US$0.5 billion for 2015 and US$0.9 billion for

   -- No lump-sum proceeds from the potential sale of the
      electricity grid under construction to the local
      electricity grid company, but ongoing rent payments
      (construction costs are about US$100 million).

S&P projects these consolidated uses of liquidity as of Dec. 31,

   -- A sizable capex program of about US$0.6 billion per year in
      2015 and 2016.  This figure should support the execution of
      the company's medium-term strategy.  In addition, it
      includes some investment in the Natalka project (S&P
      understands that the company has full flexibility to
      curtail those potential investments).

   -- Modest debt maturities of US$164 million in 2015 and $42
      million in 2016.  The company's main US$750 million
      Eurobond matures in 2020.

   -- US$184 million of declared dividends to be paid in early
      2015. Starting 2016, S&P assumes a dividend payout of 30%
      of net income, in line with the company's stated financial

   -- No material investment in working capital, as S&P expects
      flat prices and volumes.

The negative outlook reflects that on Russia, because S&P caps the
rating on Polyus at the level of the 'BB+' T&C assessment on

S&P could lower the rating on Polyus over the coming 12 months if
S&P lowered the T&C assessment of Russia.

S&P would also consider a downgrade if Polyus' adjusted ratio of
FFO to debt dropped below 45% under normal market conditions, or
below 30% at a cyclical low point a result of weaker industry
conditions, or if its discretionary cash flow became negative.
This could be triggered by a deviation from Polyus' currently
moderate financial policy, such as through a material acquisition
or dividend.

A revision of the outlook back to stable would follow a similar
revision of the outlook on Russia.

An upgrade above the T&C assessment of Russia is unlikely at this
stage, as this would require the company to switch to
predominantly exporting its products.  In addition, such a rating
action would need to be supported by Polyus maintaining the
current moderate financial policy, with FFO to debt above 60%.

SAMARA OBLAST: S&P Lowers ICR to 'BB' on Weakening Liquidity
Standard & Poor's Ratings Services lowered its long-term issuer
credit rating on Russia's Samara Oblast to 'BB' from 'BB+'.  The
outlook remains negative.  At the same time, S&P lowered the
Russia national scale rating to 'ruAA' from 'ruAA+'.


S&P has lowered its assessment of the oblast's liquidity position
to less than adequate because of the absence of the oblast's
backup committed facilities with domestic banks, despite elevated
refinancing needs.  Management plans to reduce budget deficits
very gradually, while unfavorable conditions in the Russian bond
market are pushing up the oblast's interest payments and
encouraging it to opt for short-term funding.

The ratings are constrained by S&P's view of the oblast's economy
as weak, due to only modest wealth levels, and weak financial
management.  The ratings also reflect S&P's view of Russia's
volatile and unbalanced institutional framework, which limits the
oblast's revenue and expenditure autonomy and translates into weak
budgetary flexibility.  The oblast's average budgetary performance
is neutral for its creditworthiness.  The ratings are supported by
our view of the oblast's low debt and very low contingent

The long-term rating is at the same level as Samara's 'bb' stand-
alone credit profile.

Samara Oblast is one of Russia's key industrial regions, but S&P
forecasts its gross regional product (GRP) per capita will reduce
to about $6,500 on average in 2015-2017 due to a sharp ruble
depreciation.  Moreover, the oblast's revenues remain exposed to
the volatility of the tax regime on oil production and refining
industry, which together provide about 16% of GRP, as well as the
financial strategies of a few holding companies operating in this
sector.  Tax payments, primarily corporate profit tax (CPT), from
oil production and refinancing dropped significantly in 2013-2014.
In 2013, large diversified holding companies started to pay this
tax on a consolidated basis, which reduced their contribution to
the oblast's budget, while in 2014 their profits dropped because
of foreign currency losses.

S&P expects that in 2015-2016 CPT from the largest taxpayers will
somewhat rebound if the "consolidated taxpayer regime" is amended.
Other tax revenues will likely increase only modestly on the back
of economic contraction that S&P forecasts in Russia.

Under Russia's volatile and unbalanced institutional framework,
the federal government regulates the majority of regional revenues
and expenditure responsibilities.  Samara Oblast's modifiable
revenues (mainly transport tax and nontax revenues) are low -- S&P
forecasts they will account for only 7% of the oblast's operating
revenues on average in the next three years --and don't provide
much flexibility.  Leeway is also restricted on the expenditure
side, especially due to the need to raise social spending in line
with 2012 presidential decrees.  In 2014, to alleviate pressure on
regional budgets, the federal government softened some of its
mandated spending targets for 2015-2017.  Nevertheless, Samara
Oblast will have to continue optimizing operating spending to
raise public-sector salaries and invest in social infrastructure.

S&P views Samara oblast's budgetary performance as average.  S&P
projects the oblast's five-year average operating surplus to stay
at around a moderate 3.2% of operating revenues, while the deficit
after capital accounts will slightly widen to about 8.3% of total

The Russia-wide economic slowdown and increased foreign currency
losses of large oblast taxpayers led to a significant
underperformance of the oblast's revenues in 2014.  As a result,
its operating surplus dropped to 1.4% of operating revenues in
2014 from 9% in 2013.  In S&P's base-case scenario, though, it
expects the oblast to benefit from ruble depreciation and related
CPI inflation in 2015-2017.  Rebounding revenues, primarily
corporate profit tax, may help the government stabilize operating
surplus as a percentage of operating revenues at about 1.8% on
average in 2015-2017.

Flat operating performance will likely help the region gradually
reduce its deficit after capital accounts.  In S&P's base-case
scenario it assumes that the oblast's deficit after capital
accounts will decrease to 6.5% in 2017 from 11.2% in 2014.
However, the ability of the oblast to cut capital investments,
especially in infrastructure needed for hosting games during the
football World Cup in the city of Samara in 2018, will remain
limited.  The total cost is currently estimated at about Russian
ruble (RUB) 56.4 billion (about $1.2 billion).  The oblast plans
to provide up to 50% of the needed amount and the rest will be
cofinanced from the federal budget and private investors.  The
exact funding scheme is currently being discussed, but S&P
understands that it will be a priority for the oblast's political
leadership and might undermine efforts to maintain fiscal
discipline over the medium term.

The oblast's tax-supported debt will continue to grow and will
likely reach 58.6% of consolidated operating revenues by year-end
2017.  S&P considers this debt level as still-low in an
international context.  However, in the context of the volatile
capital markets and rising interest rates in Russia, it will
likely translate into relatively high debt service for Samara

S&P includes the minor guaranteed and nonguaranteed debt of Samara
Oblast's government-related entities (GREs) into S&P's
calculations of tax-supported debt.  S&P estimates GRE payables at
about 3% of the oblast's operating revenues, and believe that its
municipal sector is relatively financially healthy.

S&P views Samara Oblast's financial management as weak in an
international context, as S&P do most Russian local and regional
governments.  This is mainly due to S&P's view of the oblast's
lack of reliable long-term financial and capital planning, and
limited visibility regarding the policy for GREs.  At the same
time, S&P believes the oblast's debt management is more
sophisticated than the Russian average.


S&P views Samara Oblast's liquidity position as less than
adequate, as defined in S&P's criteria.  S&P expects the oblast's
debt service coverage to be adequate, with free cash and committed
credit facilities covering more than 80% of debt service falling
due within the next 12 months.  S&P also applies a negative
adjustment for what S&P views as the oblast's limited access to
external liquidity, given the weaknesses of the domestic capital

S&P forecasts that, by the end of March 2015, the oblast will have
average cash -- net of the deficit after capital accounts --of
about RUB10.5 billion (about $200 million).  The cash will cover
about 60% of debt service falling due in this period.  At the same
time, the oblast may rely on regular loans from the central
government aimed at refinancing commercial debt of about RUB3
billion (about $60 million).  S&P expects that the oblast's own
cash and committee facilities combined will cover about 90% of the
oblast's debt service coming due over the next 12 months.

The interest rates in the Russian capital market remains elevated,
although decreasing.  The oblast has refrained from arranging
committed credit lines so far this year and plans to tap the
market in the second half of the year in anticipation of lower
funding costs.  This strategy may help Samara oblast reduce debt
service, but exposes it to higher refinancing risks as investor
sentiment in the domestic market remains volatile.


The negative outlook reflects S&P's view that ongoing economic
contraction and commitment to investment projects may prevent
Samara Oblast from budget consolidation in 2015-2016.  Such a
delay in consolidation would increase the oblast's debt burden and
further constrain its liquidity position.

S&P might lower the ratings within the next 12 months if, in line
with its downside scenario, the oblast's revenue decrease further
because of economic contraction, while the government fails to
implement cost-cutting measures that in turn lead to structural
deficits after capital accounts of about 10% of total revenues on
average over 2015-2017 and a debt level well exceeding 60% of
consolidated operating revenues by 2018.  Under this scenario, S&P
would likely revise its assessment of the oblast's liquidity to

S&P could revise the outlook to stable within the next 12 months
if, in line with S&P's base-case scenario, Samara Oblast's
management remained committed to cost-containing measures, and
maintained average budgetary performance and at least less than
adequate liquidity, despite expenditure pressures and turbulence
on the capital markets.

In accordance with S&P's relevant policies and procedures, the
Rating Committee was composed of analysts that are qualified to
vote in the committee, with sufficient experience to convey the
appropriate level of knowledge and understanding of the
methodology applicable.  At the onset of the committee, the chair
confirmed that the information provided to the Rating Committee by
the primary analyst had been distributed in a timely manner and
was sufficient for Committee members to make an informed decision.

After the primary analyst gave opening remarks and explained the
recommendation, the Committee discussed key rating factors and
critical issues in accordance with the relevant criteria.
Qualitative and quantitative risk factors were considered and
discussed, looking at track-record and forecasts.

The chair ensured every voting member was given the opportunity to
articulate his/her opinion.  The chair or designee reviewed the
draft report to ensure consistency with the Committee decision.
The views and the decision of the rating committee are summarized
in the above rationale and outlook.  The weighting of all rating
factors is described in the methodology used in this rating


                              To             From
Samara Oblast
Issuer credit rating
  Foreign and Local Currency   BB/Neg./--    BB+/Neg./--
  Russia National Scale        ruAA/--/--    ruAA+/--/--
Senior Unsecured
  Local Currency               BB            BB+
  Russia National Scale        ruAA          ruAA+


AMPER SA: Seeks Modification of Syndicated Loan Clause
Rodrigo Orihuela at Bloomberg News reports that Amper S.A. said in
a regulatory filing that supplier Cisco has changed its position
regarding Amper's commercial debt restructuring.

According to Bloomberg, the filing noted that Cisco's new position
is a "radical" change in its position, incompatible with the terms
of syndicated loan Amper has with financial institutions.

Amper related in the filing that it will request creditors to
modify clause in the syndicated loan so that it can conclude
existing restructuring process and capital increase.

The filing said if the clause isn't modified, the syndicated loan
won't be in effect and creditors could demand payment.

Amper SA is a Spain-based telecommunications company.

BANCO SANTANDER: Fitch Affirms 'BB' Rating on Preference Shares
Fitch Ratings has affirmed Spain-based Banco Santander, S.A.'s
(Santander) and Banco Bilbao Vizcaya Argentaria's (BBVA) Long-term
Issuer Default Ratings (IDRs) at 'A-' and Viability Ratings (VRs)
at 'a-'.  The Outlook on their Long-term IDRs is Stable.

At the same time, Fitch has affirmed these banks' Short-term IDRs
at 'F2', Support Ratings (SRs) at '5' and Support Rating Floors
(SRFs) at 'No Floor'.


The IDRs and senior debt ratings of Santander and BBVA are driven
by their stand-alone creditworthiness, as expressed by their VRs.
They are also one notch above the Spanish sovereign rating
(BBB+/Stable), supported by diversification benefits, especially
for Santander, from their solid retail franchises in a number of
European and Latin American countries and in the US.

Geographical diversification has proven key in supporting the
resilience of earnings generation and loss absorption capacity
during times of stress, enabling dividends to be up-streamed and
offering financial flexibility from the potential disposal of
stakes in subsidiaries if needed.

Despite Santander's and BBVA's international diversification,
Fitch considers that the banks' risk profiles remain correlated
with that of the Spanish sovereign and, as part of its analysis,
Fitch therefore also takes into account the standalone profile of
the Spanish legal entity to which the ratings are assigned.

In Fitch's view, this correlation is, among other factors,
reflected in the banks' domestic performance and asset quality,
which have proven sensitive to the economic environment.  Funding
access, stability and costs are also typically influenced by broad
perceptions of sovereign risk, but Fitch notes the flight to
quality from which both banks benefited during Spain's recent
financial crisis and the improvement in funding costs since Spain
began its recovery.

Santander and BBVA have a track record of strong underlying
profitability, supported by fairly wide margins and a cost
control-oriented culture.  This has enabled them to absorb higher
impairment charges over past years, especially from Spain, and yet
maintain a capacity to internally generate capital.  Santander and
BBVA generated 16% and 29%, respectively, of their attributable
profits from core banking operations in Spain in 1Q15.  Fitch
expects profitability in 2015 to continue its upward trend,
supported by a pickup in activity and lower impairments,
especially in Spain as the economy recovers.

Asset quality indicators, which weakened in recent years mainly
due to Spain's balance sheet, have improved at both banks.  This
is explained by sustained evidence of lower non-performing loan
(NPL) inflows since mid-2013.  BBVA's NPL ratio improvement is
somewhat held back by its larger share of loans in Spain.  These
banks' reported group NPL ratios were 4.9% at Santander and 5.6%
at BBVA at end-1Q15 and reserves held against these assets have
consistently been above 60%, a level that Fitch sees as adequate
for their risk profiles.

Santander's capitalization and leverage has improved, primarily
due to a EUR7.5 billion capital increase completed in January
2015. Fitch currently views the two banks' capital and leverage
measures as sound in view of their fairly low-risk business
profiles.  At end-2014, Santander's Fitch core capital
(FCC)/weighted risks ratio was 9.8%, after adjusting for the
January 2015 capital increase.  BBVA's FCC ratio was 10.9%, but
Fitch expects it to be 100 bps lower once pending corporate
transactions have been completed.  On a fully-loaded basis,
Santander's and BBVA's common equity tier 1 ratios were 9.7% and
pro-forma 9.8%, respectively, at end-1Q15.  The banks'
capitalization also benefits from adequately-capitalized

S&P views Santander's and BBVA's funding and liquidity profile as
adequate for their rating level.  The two banks are largely funded
by customer deposits in their core markets, with funding
imbalances being fairly small and met through long-term debt
instruments, mostly senior unsecured and covered bonds.

Funding also benefits from both banks' proven ready access to
local and international wholesale markets, even in turbulent
times.  The banks hold ample unencumbered assets and scheduled
repayments of borrowings are well spread.  Fitch's assessment of
the two banks' funding and liquidity profiles is also supported by
limited intercompany funding, with subsidiaries being locally
funded without recourse to the parent banks.

The Stable Outlook reflects Fitch's expectation that Santander's
and BBVA's overall credit profile is set to remain stable in the
foreseeable future and matches the outlook on Spain's sovereign
rating, which is an important driver of Fitch's assessment of the
operating environment in these banks' home market.


These banks' IDRs are primarily sensitive to changes to their VRs.
Both banks' VRs could be upgraded if the operating environment
improves, which would likely be reflected by an upgrade of the
Spanish sovereign rating linked to better macro-economic
conditions, while foreign markets remain resilient.  Fitch
believes this would ultimately contribute to further improvements
in profitability, asset quality and capitalisation of their parent

In Fitch's view, there is more upside potential for Santander's
ratings than BBVA's given the former's more pronounced
diversification towards higher-rated sovereigns.  Santander's
ratings are currently constrained by the operating environment of
Spain and may therefore also benefit most from further
improvements thereof.  Any positive rating action on the Spanish
sovereign would not automatically trigger an upgrade of these
banks' VRs (and hence IDRs).  For Santander, this would also,
among other factors, depend on trends in asset quality and
capitalization, international subsidiaries' performance and
developments regarding the fungibility of capital and liquidity
within the group.  In the case of BBVA, a VR upgrade would also be
subject to the economic conditions of the main emerging countries
in which it operates and progress with the integration of recently
acquired businesses.

While currently seen as unlikely by Fitch, both banks' ratings
could be adversely affected by a weakening of the operating
environment, possibly evidenced by a downgrade of Spain's
sovereign rating; marked asset quality deterioration, for example
due to unforeseen shocks in international subsidiaries that
translate into significant pressures on local and/or group
earnings and capital.  Evidence of an inability to sustainably
access either local or international wholesale markets would also
put pressure on these banks' ratings.


The SR and SRF reflect Fitch's view that senior creditors of
Santander and BBVA cannot rely on receiving full extraordinary
support from the sovereign in the event that they become non-
viable.  In Fitch's view, the EU's Bank Recovery and Resolution
Directive (BRRD) and Single Resolution Mechanism (SRM) are now
sufficiently progressed to provide a framework for resolving banks
that is likely to require senior creditors participating in
losses, if necessary, instead of or ahead of a bank receiving
sovereign support.

Any upgrade to the SR and upward revision to the SRF would be
contingent on a positive change in the sovereign's propensity to
support its banks.  While not impossible, this is highly unlikely
in Fitch's view.


Subordinated debt and other hybrid capital issued by Santander,
BBVA and their issuing vehicles are all notched down from their
respective VRs in accordance with Fitch's assessment of each
instrument's respective non-performance and relative loss severity
risk profiles, which vary considerably.  Their ratings are
primarily sensitive to any change in the respective VRs of
Santander and BBVA.


BBVA's state-guaranteed debt has been affirmed, in line with the
affirmation of the bank's Long-term IDR. Catalunya Banc, S.A.'s
state-guaranteed debt issues have been upgraded to 'A-' from
'BBB+', in line with BBVA's Long-term IDR; and removed from Rating
Watch Positive (RWP) following completion of the acquisition of
the former's assets and liabilities by BBVA in April 2015.  State-
guaranteed debt issues are senior unsecured instruments that bear
the full guarantee of Spain.  These state-guaranteed debt ratings
are aligned with the higher of BBVA's or Spain's IDRs and are
sensitive to changes to these IDRs.

The rating actions are:


Long-term IDR: affirmed at 'A-'; Outlook Stable
Short-term IDR: affirmed at 'F2'
VR: affirmed at 'a-'
Support Rating: affirmed at '5'
Support Rating Floor: affirmed at 'No Floor'
Senior unsecured debt long-term rating and certificates of
  deposit: affirmed at 'A-'
Senior unsecured debt short-term rating, commercial paper and
  certificate of deposits: affirmed at 'F2'
Market-linked senior unsecured securities: affirmed at 'A-emr'
Subordinated debt: affirmed at 'BBB+'
Preference shares: affirmed at 'BB'
Santander International Debt, S.A. Unipersonal
Senior unsecured debt long-term rating: affirmed at 'A-'
Senior unsecured debt short-term rating: affirmed at 'F2'
Market-linked senior unsecured securities: affirmed at 'A-emr'

Santander Issuances S.A.

Subordinated debt long-term rating: 'BBB+'
Santander International Preferred, S.A. Unipersonal
Preference shares: affirmed at 'BB'
Santander Commercial Paper, S.A. Unipersonal
Commercial paper: affirmed at 'F2'
Santander Finance Capital, S.A. Unipersonal
Preference shares: affirmed at 'BB'
Santander Finance Preferred, S.A. Unipersonal
Preference shares: affirmed at 'BB'

Santander Financial Issuance Ltd.

Subordinated debt: affirmed at 'BBB+'
Santander Perpetual, S.A. Unipersonal
Upper Tier 2 debt: affirmed at 'BBB-'

Santander US Debt, S.A.U.

Senior unsecured debt long-term rating: affirmed at 'A-'

Emisora Santander Espana, S.A.U.

Senior unsecured debt long-term rating programme: affirmed at
Senior unsecured debt short-term rating programme: affirmed at

Santander International Products PLC

Senior unsecured debt long-term rating: affirmed at 'A-'


Long-term IDR: affirmed at 'A-'; Outlook Stable
Short-term IDR: affirmed at 'F2'
VR: affirmed at 'a-'
Support Rating: affirmed at '5'
Support Rating Floor: affirmed at 'No Floor'
Senior unsecured debt long-term rating: affirmed at 'A-'
Senior unsecured debt short-term rating and commercial paper:
  affirmed at 'F2'
Subordinated debt: affirmed at 'BBB+'
Upper Tier 2 debt: affirmed at 'BBB-'
Preference shares: affirmed at 'BB'
State-guaranteed debt: affirmed at 'A-'

BBVA Capital Finance, S.A. Unipersonal

Preference shares: affirmed at 'BB'

BBVA International Preferred, S.A. Unipersonal

Preference shares: affirmed at 'BB'

BBVA Senior Finance, S.A. Unipersonal

Senior unsecured debt long-term rating: affirmed at 'A-'
Senior unsecured debt short-term rating and commercial paper:
affirmed at 'F2'

BBVA U.S. Senior, S.A. Unipersonal

Senior unsecured debt long-term rating: affirmed at 'A-'
Senior unsecured debt short-term rating and commercial paper:
affirmed at 'F2'

BBVA Subordinated Capital, S.A. Unipersonal

Subordinated debt: affirmed at 'BBB+'

Banco Bilbao Vizcaya Argentaria S.A. New York Branch

Certificate of deposits debt long-term: affirmed at 'A-'

Catalunya Banc, S.A.

State guaranteed debt: upgraded to 'A-' from 'BBB+', removed from

EUR221.5m, issued in June 2010, maturing in June 2015, floating
rate, ISIN code: ES0315346090

EUR31.5m, issued in June 2010, maturing in June 2015, fixed rate
4.24%, ISIN code ES0315346082

CAIXA GERAL: Fitch Lowers IDR to 'BB-', Outlook Stable
Fitch Ratings has downgraded Caixa Geral de Depositos, S.A.'s
(CGD) Long-term Issuer Default Rating (IDR) to 'BB-' from 'BB+'.
The Outlook is Stable.  At the same time it has downgraded the
Support Rating (SR) to '4' from '3' and revised the Support Rating
Floor (SRF) to 'B' from 'BB+'.

The rating actions are in conjunction with Fitch's review of
sovereign support for banks globally, which the agency announced
in March 2014.  In line with its expectations announced in March
last year and communicated regularly since then, Fitch believes
legislative, regulatory and policy initiatives have substantially
reduced the likelihood of sovereign support for US, Swiss and
European Union commercial banks.

The downgrade of CGD's SR to '4' and the downward revision of its
SRF to 'B' reflect Fitch's downward adjustment of the probability
of extraordinary support being provided to the bank, if needed
from the bank's sole shareholder, the Portuguese state.  Fitch
believes that in the event of severe stress, there would be
significant uncertainties about the adequacy of support being made
available because of potential limitations arising from the EU
Bank Recovery and Resolution Directive (BRRD) and EU state-aid

In addition, BRRD will give resolution authorities (the Single
Resolution Mechanism (SRM) Board from 2016) a broad suite of
powers and tools to take resolution action on CGD, if necessary or
appropriate, despite full ownership by the Portuguese state and
its sizeable market positions.

As a result of the revision to the SRF, the bank's Long-term IDR
is now driven by its standalone creditworthiness, as expressed in
its Viability Rating (VR).  The VR has been affirmed today.  Fitch
has downgraded the bank's senior debt issues in line with its
Long-term IDR.

This rating action follows rating action on a number of privately-
owned Portuguese banks earlier this week, whose SRs were
downgraded to '5' and SRFs revised to 'No Floor'.

The Portuguese banking system is continuing its path towards
stabilization, particularly for asset quality indicators, and is
gradually returning to profitability, supported by improved macro-
economic trends.  Fitch expects GDP growth of 1.5% in 2015 and a
steady decline in unemployment to 13.8%.  While Fitch expects
problematic assets for the system to peak in 2015, meaningful
improvements will take time to materialize as the stock of
problematic assets is large.  Fitch expects banks' profitability
to be supported by lower funding costs, particularly for deposits,
a reduction of domestic overheads, income from international
operations and declining impairments.  However, profitability will
remain subdued due to low interest rates, asset de-risking and
declining loan spreads.


CGD's ratings reflect the bank's poor, though improving, core
profitability, and weak asset quality indicators.  The bank has
been reporting losses since 2011.  In 2014, the bank improved its
pre-impairment operating profitability to an average 0.5% of
assets, partly supported by financial market operations but this
was not enough to offset its still high impairment provisions.

Its credit at risk/loans ratio was 12.2% at end-2014, with
coverage of almost 60%.  The ratings also take into account the
bank's leading retail franchise in Portugal, and improving
funding, liquidity and capital levels.  CGD's Fitch core capital
(FCC)/weighted risks ratio improved to 9.2% at end-2014 from 8.6%
at end-2013 and, including the state's EUR900 million cocos, its
Fitch eligible capital was 10.7% at end-2014.  However, net
problematic assets represented a high 100% of capital in 2014.

The Stable Outlook on CGD reflects the stabilization of its risk
profile, particularly asset quality indicators and the ratio of
net problematic assets-to- capital, which have started to show
some improvements.


CGD's IDR and senior debt ratings are sensitive to a change in the
bank's VR.  Upward rating potential would arise from a sustained
reduction in problem assets while preserving capital as well as
enhancing core profitability.  A continued improvement of the
operating environment should support business volumes, benefit
asset quality and a reduction in impairment charges.  This would
ultimately benefit profitability and internal capital generation.
Downward rating pressure would primarily come from a further
deterioration in asset quality and sustained losses.

The bank's ratings are also sensitive to the conclusion of the
sale process of NovoBanco and potential related costs and capital
impact, if any.


The '4' SR and 'B' SRF of CGD reflect Fitch's opinion that there
remains a limited probability of extraordinary support being
provided to CGD by the Portuguese state without the bail-in of
senior creditors.  This potential support is based on full and
willing state ownership and CGD's market-leading position in the
Portuguese market.

Any upgrade to the SR and upward revision to the SRF of the bank
would be contingent on a positive change in the sovereign's
propensity to support it.  While not impossible, this is highly
unlikely in Fitch's view.


Subordinated debt and other hybrid capital issued by CGD are
notched down from the VR in accordance with Fitch's assessment of
each instrument's respective non-performance and relative loss
severity risk profiles, which vary considerably.  Their ratings
are primarily sensitive to changes in the VR.


The ratings of Caixa Banco de Investimento (Caixa - BI) are
equalized with those of its 100% parent.  Under Portugal's
corporate law, CGD is liable for the obligations of its wholly
owned subsidiaries.

The equalization is driven by the integration of Caixa - BI within
the parent bank and the benefits derived from parent support.
Fitch does not assign a VR to the institution as the agency does
not view it as independent entity.  The ratings of Caixa-BI are
sensitive to rating actions on CGD's IDR.

CGD North America Finance LLC is a financing vehicle of CGD whose
commercial paper debt ratings are aligned with CGD's because of
the guarantee in place and whose ratings are sensitive to the same
factors that might drive a change in CGD's IDR.

The rating actions are:


Long-term IDR: downgraded to 'BB-' from 'BB+'; Outlook Stable
Short-term IDR: affirmed at 'B'
Viability Rating: affirmed at 'bb-'
Support Rating: downgraded to '4' from '3'
Support Rating Floor: revised to 'B' from 'BB+'
Senior unsecured debt long-term rating downgraded to 'BB-' from
Senior unsecured debt short-term rating affirmed at 'B'
Senior unsecured certificate of deposit long-term rating
downgraded to 'BB-' from 'BB+'
Senior unsecured certificate of deposit short-term rating affirmed
at 'B'
Commercial paper programme affirmed at 'B'
Lower Tier 2 subordinated debt affirmed at 'B+'
Preference shares affirmed at 'B-'

Caixa - BI:

Long-term IDR: downgraded to 'BB-' from 'BB+'; Outlook Stable
Short-term IDR: affirmed at 'B'
Support Rating: affirmed at '3'
CGD North America Finance LLC
Commercial paper programme affirmed at 'B'

CAJAS RURALES: Fitch Lowers Issuer Default Rating to 'BB-'
Fitch Ratings has downgraded Cajas Rurales Unidas Sociedad
Cooperativa de Credito's (CRU; BB-/Stable/bb-) mortgage covered
bonds (Cedulas Hipotacarias or CH) to 'BBB' from 'BBB+' and its
public sector covered bond (Cedulas Territoriales or CT) to 'BBB-'
from 'BBB'.  The Outlook on the ratings of CRU's CH and CT is

These rating actions follow the downgrade of CRU's Long-term
Issuer Default Ratings (IDR) to 'BB-' from 'BB', in line with
Fitch's expectation of reduced likelihood of sovereign support for


CRU's CH and CT

The CH's rating is based on CRU's IDR of 'BB-', an IDR uplift of 1
and a three-notch uplift supported by our expectation of
outstanding recoveries greater than 91% in the event of CH
defaulting.  The IDR uplift reflects the exemption of CHs from
bail-in and Fitch's view that Spain is a covered bond-intensive

The CH's rating is also supported by the 115.5%
overcollateralization (OC) that Fitch takes into account in its
analysis, which provides more protection than the 44.5% breakeven
OC for the rating.

The breakeven OC is mainly driven by an asset disposal loss
component of 31.4%, attributable to high refinancing spreads of
4.8% per annum applied to estimate the cover pool liquidation
value under a stress scenario, and a stressed cover pool credit
loss rate of 28.2%.  When determining the relied-upon OC, as per
criteria, Fitch takes into account the lowest OC of the last 12
months (164.8%) and applies a 30% haircut to compensate for
potential volatility, in line with the bank's Short-term IDR of

The CT rating is driven by CRU's IDR of 'BB-', an unchanged IDR
uplift of zero and a three-notch recovery uplift.  Such recovery
uplift is supported by the expectation of recoveries in excess of
91% in the event of CT defaulting, given the 42.8% relied-upon OC
considered by Fitch in its analysis, which is the legal minimum in
Spain.  The 42.8% 'BBB-' breakeven OC is mainly driven by an asset
disposal loss component of 31.9%, and a cover pool credit loss
rate of 22.1%.

The Discontinuity Cap (D-Cap) assessment for both of CRU's covered
bond programs is zero, reflecting Fitch's 'full discontinuity'
assessment for the liquidity gap and systemic risk component.


The covered bond programs are vulnerable to a downgrade if the
bank's Long-term IDR is downgraded or if the relied-upon OC is
lower than the breakeven OC for the respective ratings.  In the
case of CRU's CH this could also occur if the IDR uplift is
reduced to '0'.  For mortgage covered bonds, if the OC that Fitch
considers in its analysis drops to the legal minimum of 25%, a
one-notch downgrade would most likely take place.


VISTAJET GROUP: Fitch Assigns 'B' Long-Term Issuer Default Rating
Fitch Ratings has assigned VistaJet Group Holding SA (VistaJet), a
global business jet owner and operator, a Long-term Issuer Default
Rating (IDR) of 'B'. The Outlook on the IDR is Stable.

At the same time we have assigned an expected senior unsecured
rating of 'B(EXP)/RR4' to a proposed USD300 million notes to be
issued by VistaJet Malta Finance P.L.C. and VistaJet Co Finance
LLC and guaranteed by VistaJet and its key subsidiaries. The final
rating of the bond is contingent upon the receipt of final
documentation conforming materially to information already

The rating reflects VistaJet's business profile as one of the
largest global business jet owner-operators, albeit in a
fragmented market, aggressive growth strategy, high profitability
levels as well as a leveraged financial profile. The Stable
Outlook reflects our expectation of continued growth in revenues
and profitability driven by fleet growth and higher fleet
utilization. Growth will be funded largely by debt, resulting in
sustained high, albeit gradually improving, leverage over the
medium term.


Largest Global Owner-Operator

VistaJet is one of the largest business jet owner-operators in the
world and the largest globally active operator. However, it
represents only a tiny fraction of total business jet ownership
worldwide due to the highly fragmented market, offering some scope
for consolidation.

Strong Customer Offering

VistaJet provides both on-demand and long-term flight solutions
for corporates and high net worth individuals. Fitch assumes that
the latter segment will grow at over 5% per year, resulting in a
broadening demand base for business jet services. Fitch believes
VistaJet's customer offering, with round-the-clock availability of
tailored flight services of a high and uniform quality, global
coverage and usage-based pricing without the asset risk of owning
an aircraft, is a competitive advantage in its market.

Solid Business Model

At the same time, the business model is highly scalable due to
some visibility in earnings from contracted revenues (typically
over 50%), a highly variable cost base and limited need for ground
assets in the form of equipment or manpower. This in part reflects
a young, single manufacturer (Bombardier, 'B+'/Negative) fleet
under long-term warranty.

In addition, fuel cost is effectively passed onto customers and
labor is not unionized. There is some customer concentration in
the contracted business, but overall revenues are well diversified
with customers prepaying in almost all instances.

The business model supports high profitability per flight and thus
strong EBITDA margins, especially compared with commercial

Debt-Funded Growth

All of VistaJet's aircraft were debt-funded and on-balance sheet
with a small equity component as at end-2014. The issue of senior
unsecured debt will result in some aircraft assets being
unencumbered by security. Given the long service life of aircraft
compared with annual earnings (asset intensity), the leverage
multiples at VistaJet are high.

Further, VistaJet has an aggressive growth strategy which will
lead to continued increase in debt at levels above internal cash
generation, even if we assume that the company will be successful
in turning the additional capacity into revenue growth.

High Leverage, Key Man Risk

High initial leverage will limit VistaJet's ability to reduce debt
in absolute terms although we expect some improvement in leverage
multiples due to growth in earnings. High leverage, external
funding needs (especially while strong growth continues) and high
annual debt amortization constrain the ratings.

"We assume that the company will continue with its zero dividend
policy. The company is subject to key man risk, since the owner of
VistaJet and its Chairman are also a key customer and manufacturer
contact. However, VistaJet has established the management and
operational capability to support the planned increase in fleet


"We view VistaJet's liquidity position as satisfactory, but in
need of continued availability of external funding. At end-2014,
VistaJet had readily available cash & cash equivalents of USD24.3
million which compared with short-term debt of USD201.3 million,
including USD178.8 million of finance lease liabilities. VistaJet
funds almost all of its aircraft assets through finance leases,
which have a regular amortisation schedule. We view the company's
interest rate and FX risk exposure as manageable."

The proposed notes' rating reflects our assumption of average
recovery prospects, supported by over USD300m of unencumbered
assets (seven aircraft) and generally strong residual values on
the fleet.


Fitch's key assumptions within our rating case for the issuer

  -- Number of aircraft in operation at the end of 2015, 2016 and
     2017 of 54, 72 and 92 respectively.
  -- Steady revenue per hour (aircraft only) compared with 2014.
  -- Continued on-balance sheet funding of new aircraft through
     finance leases and the planned unsecured bond.
  -- Variable costs such as fuel, ground handling, catering, etc.
     to grow in line with growth in total hours flown.
  -- No dividends pay out.


Negative: Future developments that could lead to negative rating
action include:

  -- Funds from operations (FFO) gross leverage sustainably above
     8.0x (2014: 8.7x), decline in FFO interest below 2.0x
    (3.8x), or reduction in the company's contracted revenues to
     below 40% of total revenues (56%).

Positive: Future developments that could lead to positive rating
action include:

-- FFO gross leverage consistently lower than 6.0x, FFO interest
    above 3.0x along with no significant deterioration in the
    company's premium profit margins and high revenue visibility.


METINVEST BV: Moody's Says US$114MM Missed Payment Is Credit Neg
Moody's Investors Service said that it views as credit negative
Metinvest B.V. (Metinvest, Caa3 negative) not repaying $114
million outstanding 10.25% notes maturing on May 20, 2015.
However, Moody's notes that this missed payment has no immediate
impact on the company's Caa3 corporate family rating (CFR), D-PD
probability of default rating (PDR), or negative outlook. Current
ratings reflect the company's continuing default on its debt

On May 20, 2015 Metinvest did not repay the outstanding principal
on its US$114 million 10.25% notes, which matured on that day.
This non-payment was anticipated following the previous consent
solicitation launched in April 2015 as the company indicated it
didn't have sufficient sources to repay its debt in due course.
There is no remedy period available for non-payment of the
principal according to the terms and conditions of 2015 notes.
Non-payment is credit negative for the company as the company's
notes maturing in 2015, 2017 and 2018 and PXF contain cross
default provisions with any indebtedness in aggregate exceeding
US$50 million. The PXF loans and the notes in aggregate comprise
the bulk of the company's outstanding indebtedness. As of
March 31, 2015 the company had about US$1.1 billion, US$1.2
billion, US$0.3 billion, US$0.4 billion and US$90 million of
outstanding principal under its PXF facilities, Eurobonds, trade
finance facilities, related-party borrowings, and seller's notes,

Prior to that, on May 7, 2015, the company announced that it had
commenced consent solicitations in respect of its outstanding
2015, 2017 and 2018 notes seeking to defer maturity of its
remaining May 2015 notes to January 31, 2016, to make certain
amendments to the terms and conditions of the 2017 and the 2018
notes and to approve the waiver of certain ongoing and potential
events of default in relation to 2015, 2017 and 2018 notes,
including the failure to pay the principal that was due and
payable on May 20, 2015. The suggested amendments will be
considered at a meeting of noteholders, which will be held on June
1, 2015.

On April 8, 2015, the company announced that it had defaulted on a
US$113 million payment due under its pre-export financing facility
(PXF) in March 2015, which triggered the downgrade of the
company's PDR rating to D-PD from Caa3-PD on April 10, 2015. A
payment default under the PXF facilities in the total amount of
approximately US$178 million is continuing currently. Further debt
repayments under the PXF facilities totaling approximately $549
million are due by Jan. 31, 2016, and Metinvest does not expect to
be able to make such payments in full. The company started
negotiating a standstill and waiver agreement with a coordinating
committee of its PXF lenders, which was set up on 5 May 2015,
targeting a combined solution for rescheduling the maturities of
the PXF facilities and the outstanding Eurobonds.

The company's liquidity profile remains very weak. As at mid-April
2015, Metinvest had unrestricted cash and cash equivalents of
about US$130 million. The company's outstanding debt as of
February 28 was about US$3.1 billion with 2015, 2016, 2017 and
2018 principal maturities of about US$1.3 billion, US$0.6 billion,
US$0.6 billion and Us$0.8 billion, respectively.

Metinvest B.V., registered in the Netherlands, is the holding
company of a vertically integrated group, Metinvest, which is one
of the largest steelmakers and iron ore producers in the
Commonwealth of Independent States (CIS). Metallurgical segment of
the company comprises three iron and steel plants with the
capacity to produce approximately 15 million tonnes (mt) of crude
steel annually, equivalent to approximately 55% of all steel cast
in Ukraine in 2014, a rolling mill and a large diameter pipe mill
in Ukraine, and also has rolling mills in Italy, Bulgaria and the
UK. Mining segment of the company comprises iron ore mines, all of
which are located in Ukraine, and coal mines located in Ukraine
and the US. The company produces finished flat- and long-steel
products, large diameter pipes and semi-finished steel products
(slabs and billets), pig iron and coke products, iron ore and
coking coal concentrate as well as pellets. In 2014, Metinvest
produced 9.2 mt (2013: 12.4 mt) of crude steel, and 34.9 mt (2013:
36.9 mt) of iron ore concentrate, and 4.1 mt (2013: 5.5 mt) of
coking coal concentrate. In 2014, Metinvest reported revenue of
$10.6 billion (2013: $12.8 billion) and EBITDA of $2.7 billion
(2013: $2.4 billion). In 2014, around 24% (2013: 29%) of the
company's external sales were in Ukraine, with the remainder
generated in Europe, the Middle East, North Africa, Southeast
Asia, the CIS (except Ukraine) and North America.

The company is privately owned: the major shareholders of the
group are a Ukrainian investment holding company, System Capital
Management (SCM), with a 71.24% share in Metinvest, and Smart
group, which owns 23.76%.

U N I T E D   K I N G D O M

FITNESS FIRST: Still Counting Cost of Falling Into Administration
Sarah Bridge at Daily Mail reports that Fitness First has just
opened one of the world's most expensive gyms, but it is still
counting the cost of rescuing the company from falling into
administration in 2012.

The 377-strong fitness chain, which is majority-owned by Oaktree
Capital Management, recorded a slight decline in turnover to
GBP469.4 million in the year to October 31, 2014, as a result of
gym closures and currency fluctuations, according to Daily Mail.

The report notes that the operating costs and GBP43.6million in
interest payments resulted in an overall pre-tax loss of

However, the pre-tax loss figure is almost half the previous
year's loss of GBP62.5 million, the report relates.  The company
said that 2014 was a 'year of investment' and it was on track with
its three-year, GBP200 million turnaround program, the reports

INTERNATIONAL PERSONAL: Fitch Affirms BB+ Issuer Default Rating
Fitch Ratings has affirmed International Personal Finance Plc's
(IPF) Long-term Issuer Default Rating (IDR) at 'BB+', Short-term
IDR at 'B' and senior unsecured debt at 'BB+'. The Outlook on the
IDR is Stable.


IPF's IDRs are driven by the group's proven track record in its
unsecured home-collected lending business over the economic cycle,
supported by its strong capitalization and modest leverage. The
ratings also reflect the risks stemming from the unsecured nature
of its lending, as well as the high credit, operational and FX
risks arising from its presence in and exposure to emerging

Furthermore the ratings factor in the group's limited funding
diversification and its modest business scale in its more recently
entered markets. Risks arising from continued regulatory scrutiny
into the high-cost credit business and heightened political focus
on consumer protection could also put negative pressure on the

IPF's performance remained sound in 2014, notwithstanding slower
revenue growth in the second half of the year. Revenues grew 13%
on a year-on-year basis at constant exchange rates, driven by
business expansion in all operating markets, but mostly by the
developing markets of Mexico (22% growth yoy), Romania and
Bulgaria (19% yoy) as well as the group's most established market,
Poland (10% yoy). Fitch expects the home-collected unsecured
businesses in IPF's longer-standing countries of operation to
remain the greatest contributors to profit before tax in the near
term, notwithstanding the groups continued efforts in market and
product diversification.

In February 2015 IPF completed the acquisition of MCB Group (MCB),
a consumer finance company that provides credit solutions under
various brands in the Baltic countries, Finland and Australia
servicing around 91 thousand retail customers. In Fitch's view,
this acquisition is neutral to the ratings as MCB's business only
accounts for around 6% of the group's receivables and the
potential benefits from geographical and product diversification
and costs savings are at this stage in part offset by integration
and execution risks.

Significant arrears are a feature of IPF's business model, but are
adequately provided for. Impairments as a proportion of revenues
have remained stable and within the group's targeted ratio of 25%-
30%. Risk appetite is high compared with high street banks but is
adequate for the group's risk profile and priced accordingly.
Despite strong receivables growth in recent years and a relaxation
of credit standards in some markets, the group has been able to
maintain its level of impaired receivables to gross revenues at
28%, reflecting robust risk controls and policies.

Funding to support IPF's business expansion remains fully reliant
on the wholesale market, as the group has no access to retail
deposits. Refinancing risk remains a key issue in the group's
financial profile, although it is somewhat mitigated by the short
duration of the lending products and the company's track record in
accessing wholesale funding at any point in the cycle in all its
operating markets. IPF took further steps in 2014 to mitigate
refinancing risk, while at the same time improving its maturity
profile. This was achieved by extending its revolving credit
facilities an additional two years, by refinancing and extending
its eurobond maturity and by completing a EUR40 million new issue
of corporate bonds to supplement the GBP102 million retail bond
already in place. IPF's liquidity is adequate as it had available
funding headroom of GBP170 million at end-2014.

At end-2014, the group reviewed its existing targeted
equity/receivables ratio of 45% and set a new target of 40%.
However, Fitch continues to view this level as comfortable.


Upside potential to the IDRs is limited in the short- to medium-
term given IPF's fairly undiversified funding structure, limited
revenue diversification and significant risks from unsecured
lending in emerging markets.

Downside pressure in the short-term is not envisaged by Fitch.
However, a meaningful deterioration in IPF's funding and liquidity
position, increased arrears volumes that negatively affect
profitability and put pressure on capital, or threats to the
business model arising from higher regulatory scrutiny could all
put downward pressure on ratings

The senior debt rating is driven by IPF's Long-term IDR and is
sensitive to any change in it.

MCLEOD BUILDING: In Liquidations, Cuts 30 Jobs
David Kerr at Press and Journal reports that GBP1 million hole has
been left in the north economy after the family-owned firm McLeod
Building, which has been trading for more than 100 years, went
into liquidation.

More than 30 jobs have been lost at Grantown-based McLeod Building
which crashed just days after unveiling plans for nearly 50 new
homes in the Speyside town, according to Press and Journal.

The report notes that Glasgow-based firm Gerber, Landa and Gee has
been appointed to handle the voluntary liquidation.

And it said the impact on the local economy would be "potentially
devastating", the report relates.

The building firm had been run by three generations of the McLeod
family, the report discloses.

Brothers Donly, Robbie, and Billy, were the directors when the
liquidators were called in.

Managing Director Robbie McLeod said he was distraught about the
loss of the company and added that he hoped a buyer could be
found, the report relates.

The firm had 35 employees, including the directors.

Gerber, Landa and Gee will hold a meeting with McLeod Building's
creditors early next month and surveyors have been asked to
examine the existing contracts held by the company, the report

Nominated liquidator Tom Hughes said it would have been
"irresponsible" for the firm to continue trading, the report

The report notes that Mr. Hughes said: "They have been a
substantial employer for the area, a family firm which has been in
business for a very long time.

"The truth is that since the economic crisis they have been
struggling to make ends meet and there has been a regular struggle
with cash flow.  We are asked to look at their position but in
reality cash is too tight to continue.  It would have been
irresponsible to continue trading," the report quoted Mr. Hughes
as saying.

The report notes that Mr. Hughes said: "I would say that it has
the potential to be devastating for the local area.  I would
estimate that it will take at least ú1million out of the local

"This has been a very sound business financially in the past but
really since 2008, it has become more and more difficult. They
have fought it for as long as they could.  Out of London and
certainly north of the border, the recession has never gone away
for building companies," Mr. Hughes added.

The firm, which is described as "no ordinary building company" on
its website, provided architectural services, as well as building
from new and renovating older properties.

RANGERS FC: FIFA Insists It is the Same Amid Liquidation Woes
Daily Record reports that FIFA have stepped into The Rangers
Football Club PLC argument by announcing that the Ibrox side is
the same club.

Following the reign of Craig Whyte, Rangers were relegated to the
bottom tier of Scottish football after the operating company's
liquidation with many Scottish football fans saying Rangers are a
new club and calling them Sevco - in reference to the name of the
company Charles Green set up to run the club, with Celtic fans
even paying for an advert in a newspaper to state that Rangers are
a new club, according to Daily Record.

But FIFA have now rejected those claims as they promote the latest
edition of their weekly magazine saying: "After their enforced
relegation in 2012, Glasgow Rangers are in the hunt for promotion
back to Scotland's top flight," the report relays.

The report notes that the statement comes a matter of months after
SPFL Chief Neil Doncaster also stated that Rangers are the same
club when he said: Doncaster said: "In terms of the question about
old club, new club, that was settled very much by the Lord Nimmo
Smith commission that was put together by the SPL to look at EBT
payments at that time.

"The decision, very clearly from the commission, was that the club
is the same, the club continues, albeit it is owned by a new
company, but the club is the same. It's the same club,
absolutely," the report quoted Mr. Doncaster as saying.

"The member club is the entity that participates in our league and
we have 42 member clubs.  Those clubs may be owned by a company,
sometimes it's a Private Limited Company, sometimes it's a PLC,
but ultimately, the company is a legal entity in its own right,
which owns a member club that participates in the league." Mr.
Doncaster said, the report relays.

"It was put to bed by the Lord Nimmo Smith commission some while
ago ? it's the same club," Mr. Doncaster added.

                  About Rangers Football Club

Rangers Football Club PLC --
-- is a United Kingdom-based company engaged in the operation of
a professional football club.  The Company has launched its own
Internet television station,  The station combines
the use of Internet television programming alongside traditional
Web-based services.  Services offered include the streaming of
home matches and on-demand streaming of domestic and European
games, which include dedicated pre-match, half-time and post-
match commentary.  The Company will produce dedicated news
magazine and feature programs, while the fans can also access a
library of classic European, Old Firm and Scottish Premier League
(SPL) action.  Its own dedicated television studio at Ibrox
provides onsite production, editing and encoding facilities to
produce content for distribution on all media platforms.

REDCLIFFE MAGTRONICS: Goes Into Administration
Machinery Market reports that Redcliffe Magtronics has gone into
administration following "a dramatic reduction in orders" due to
the drop in oil prices.

Paul Wood and Gilbert Lemon of financial services firm Smith &
Williamson were appointed as joint administrators to the
engineering support business on April 29.

At present, the Bristol-based company is continuing to trade in
order to supply key customers, and this is expected to last until
October, according to Machinery Market.  Nine members of staff
have been retained to run the business, but 16 have been made
redundant, the report relays.

The administrators are said to be in touch with customers who have
expressed an interest in hiring some of the former employees, the
report notes.

The report relays that a statement from Smith & Williamson said:
"Redcliffe Magtronics was trading profitably and successfully for
many years as a specialist high-performance engineering company.
However, in the first quarter of 2015, the company suffered a
dramatic reduction in orders. Its major customers attribute this
in part to the reduction in the oil and gas price and the knock-on
effect this has had in delaying contracts.  This severe reduction
in orders meant that Redcliffe Magtronics faced critical cash-flow
pressures that resulted in the appointment of administrators."

TITAN EUROPE 2007-1: S&P Lowers Rating on Class A Notes to CCC-
Standard & Poor's Ratings Services lowered to 'CCC- (sf)' from
'B- (sf)' its credit rating on Titan Europe 2007-1 (NHP) Ltd.'s
class A notes.  At the same time, S&P has affirmed its 'D (sf)'
ratings on the class B, C, D, and E notes.  S&P has subsequently
withdrawn its ratings on these five classes of notes due to the
lack of sufficient information required to perform its on-going
surveillance of the transaction.

In November 2014, S&P is informed that the disposal of the
borrower group had been completed in order to maximize recoveries
on the Libra loan.  Following the completion of the escrow period
and the determination of costs, expenses, and adjustments relating
to the disposal of the loan, the special servicer made a final
recovery determination of GBP459,424,232.

According to the January 2015 interest payment date (IPD) cash
manager report, the issuer applied, after senior costs, a partial
distribution of GBP200 million (GBP193.7 million principal payment
and GBP6.3 million interest payment) to the class A notes, and
withheld GBP237.5 million pending the resolution of the
application of funds due on the class A notes relative to payments
due to the forward swap provider under the priority of payments.

Furthermore, the January 2015 cash manager's report noted that the
issuer failed to meet its accrued interest payment obligations
under the class B, C, D, and E notes.

Since the January IPD, S&P has been informed, by way of a special
notice dated April 16, 2015, that a settlement, in principle, has
been reached between the swap provider, certain holders of the
class A notes, and other participants.

Under the proposed settlement, S&P understands that the final
payment to be made to the class A noteholders is GBP372.7 million
(inclusive of the GBP200.0 million distributed to the class A
noteholders on the January 2015 IPD).  On this basis, the class A
noteholders would expect to receive an additional GBP172.7
million, which is less than the outstanding principal balance on
the notes of GBP214.3 million.

S&P's ratings on Titan Europe 2007-1 (NHP)'s notes address the
timely payment of interest quarterly in arrears, and the payment
of principal no later than the legal final maturity date in
January 2017.

S&P believes that the likelihood that the class A notes will
experience principal losses has increased to at least a one-in-two
likelihood of default.

S&P has therefore lowered to 'CCC- (sf)' from 'B- (sf)' its rating
on the class A notes in accordance with its criteria assigning
'CCC' category ratings.

The class B, C, D, and E notes continue to experience interest
shortfalls.  In addition, the class D and E notes now also have
non-accruing interest amounts allocated to them.  S&P has
therefore affirmed its 'D (sf)' ratings on these classes of notes
in accordance with its "Methodology: Timeliness Of Payments: Grace
Periods, Guarantees, And Use Of 'D' And 'SD' Ratings" criteria,
published on Oct. 24, 2013.

S&P has not been provided with the cash manager report for the
April 2015 note payment date.  S&P has also been informed that no
further cash manager reports will be provided for this
transaction.  Therefore, S&P has subsequently withdrawn its
ratings on these five classes of notes due to the lack of
sufficient information of satisfactory quality required, both now
and at any future payment date, to perform its on-going
surveillance of the transaction.

Titan Europe 2007-1 (NHP) is a single loan transaction that closed
in 2007 and is secured on nursing homes in the U.K.


Titan Europe 2007-1 (NHP) Ltd.
GBP610.27 mil commercial mortgage-backed variable- and floating-
rate notes
Class     Identifier    To                   From
A         88828NAD6     CCC- (sf)            B- (sf)
B         88828NAA2     D (sf)               D (sf)
C         88828NAE4     D (sf)               D (sf)
D         88828NAB0     D (sf)               D (sf)
E         88828NAC8     D (sf)               D (sf)

Ratings Subsequently Withdrawn

Titan Europe 2007-1 (NHP) Ltd.
GBP610.27 mil commercial mortgage-backed variable- and floating-
rate notes
Class      Identifier       To        From
A          88828NAD6        NR        CCC- (sf)
B          88828NAA2        NR        D (sf)
C          88828NAE4        NR        D (sf)
D          88828NAB0        NR        D (sf)
E          88828NAC8        NR        D (sf)

NR--Not rated


QISHLOQ QURILISH: Moody's Lowers LT Deposit Rating to 'B2'
Moody's Investors Service downgraded Qishloq Qurilish Bank's
baseline credit assessment to b3 from b2 and downgraded QQB's
long-term local-currency deposit rating to B2 from B1. Moody's has
also assigned to QQB a Counterparty Risk Assessment of B1(cr)/Not

The actions reflect (1) the impact on QQB of the publication of
Moody's revised bank methodology (see link below); and (2) QQB's
weak asset quality and moderate loss-absorption capacity.

Concurrently, Moody's has confirmed QQB's long-term B2 foreign-
currency deposit rating and assigned stable outlooks to all of the
affected long-term ratings. The short-term deposit ratings of Not-
prime were unaffected.

The actions conclude the rating agency's review initiated on March
17, 2015, which followed the publication of its revised bank
rating methodology.

The conclusion of the review was prompted by the changes arising
from the implementation of Moody's updated methodology for rating
banks globally. The revised methodology contains new aspects that
Moody's has devised in order to help accurately predict bank
failures, and to determine how each creditor class is likely to be
treated when a bank fails and enters resolution. The revisions to
the methodology reflect insights gained from the 2008-09 global
financial crisis and the fundamental shift in the banking industry
and its regulation.

In terms of the application of the new methodology, Moody's rating
actions reflect (1) the "Very Weak+" macro profile for Uzbekistan
(unrated); (2) QQB's core financial ratios; and (3) Moody's
assessment of a high likelihood of government support for QQB, in
case of need.

The downgrade of QQB's ratings reflects its weak asset quality
with high share of problem loans along with the insufficient, in
Moody's view, coverage of problem loans by loan loss reserves, and
moderate loss-absorption capacity.

According to the audited IFRS report, QQB's non-performing loans
(defined as loans more than 90+ days overdue) accounted for 13% of
gross loans as of year-end 2014 (15% in 2013). These remain
largely under-provisioned, as loan loss reserves accounted for
only 2% of gross loans reflecting the secured nature of the
mortgage loans.

Moody's notes that QQB acts as a government agent in implementing
a state mortgage program in the country's rural areas. In 2014,
QQB's residential mortgage loans grew by 40% (following 69% growth
in 2013) and accounted for almost 80.5% of its total loan
portfolio. Moody's expects that further rapid growth will sustain
pressure on already-weak asset quality.

QQB's capital adequacy will also remain challenged by rapid
lending growth. In accordance with the audited IFRS report, QQB
reported Total CAR and Tier 1 ratios of 19.8% and 13.4%
respectively as at year-end 2014. These relatively high capital
ratios, though, benefit from the low risk-weighting of loans
secured by residential properties. Moody's assesses the bank's
loss absorption as moderate, as internal capital generation is
weak and provisioning levels are low; further, the ongoing
relative strength of QQB's capital position will depend on any
additional capital contribution that its shareholders might be
willing to make.

Moody's incorporates one notch of government support uplift into
QQB's deposit ratings given the rating agency's assessment of a
high probability that the government would provide support to the
bank's deposit holders, if necessary. Moody's bases this
assessment on (1) the bank's state ownership, as the government of
Uzbekistan, holds a 74.4% direct stake and an indirect stake that
raises this to 90%; (2) QQB's socially important niche franchise;
and (3) past instances of state funding and capital support. Total
government related funds accounted for around 50% of the bank's
liabilities as at year-end 2014.

What Could Change the Ratings UP/DOWN

Upward rating momentum could develop from a significant
improvement in asset quality and loss absorption capacity.

Future downward rating pressure could emerge in the event of a
substantial deterioration in its asset quality, capital levels
and/or liquidity profile.

Following the introduction of its revised bank rating methodology
and the conclusion of the review of QQB's ratings, Moody's has
also assigned CR assessments to QQB.

CR Assessments are opinions of how counterparty obligations are
likely to be treated if a bank fails and are distinct from debt
and deposit ratings in that CR Assessments (1) consider only the
risk of default rather than the likelihood of default and the
expected financial loss suffered in the event of default; and (2)
apply to counterparty obligations and contractual commitments
rather than debt or deposit instruments. The CR assessment is an
opinion of the counterparty risk related to a bank's covered
bonds, contractual performance obligations (servicing),
derivatives (e.g., swaps), letters of credit, guarantees and
liquidity facilities.

In most cases, the starting point for the CR Assessment -- which
is an assessment of the ability to avoid defaulting on its
operating obligations -- is one notch above the bank's Adjusted
BCA, to which Moody's then adds the same notches of support uplift
as applied to deposit and senior unsecured debt ratings. As a
result, the CR Assessment for QQB is one notch higher than its
local currency deposit rating, reflecting Moody's view that
authorities are likely to honor the operating obligations the CR
Assessment refers to in order to preserve a bank's critical

The principal methodology used in these ratings was Banks
published in March 2015.


* Large Companies with Insolvent Balance Sheets

                                       Shareholders        Total
                                       Equity             Assets
  Company             Ticker           (US$MM)            (US$MM)
  -------             ------           ------             ------

AA LTD             2968492Z LN        -3387310342    2941216446
AA PLC             AAL BQ             -3387310342    2941216446
AA PLC             AA/ TQ             -3387310342    2941216446
AA PLC             AA/ IX             -3387310342    2941216446
AA PLC             AAAAL S1           -3387310342    2941216446
AA PLC             AA/ EB             -3387310342    2941216446
AA PLC             2XA GR             -3387310342    2941216446
AA PLC             AA/GBX EU          -3387310342    2941216446
AA PLC             AA/GBX EO          -3387310342    2941216446
AA PLC             AA/ LN             -3387310342    2941216446
AA PLC             1023859D SW        -3387310342    2941216446
AA PLC             AAL B3             -3387310342    2941216446
AA PLC             AAL S2             -3387310342    2941216446
AA PLC             AAL L3             -3387310342    2941216446
AA PLC             AA/EUR EU          -3387310342    2941216446
AA PLC             AA/EUR EO          -3387310342    2941216446
AA PLC-SUB SHS     1253131D LN        -3387310342    2941216446
AARDVARK TMC LTD   1768297Z LN       -1779177.627   149732584.7
ABBOTT MEAD VICK   648824Q LN         -1685905.65   168264096.2
ABF GRAIN PRODUC   1276922Z LN       -48465868.55   670357516.4
ACCIONA INMOBILI   4029797Z SM       -201626913.2    1629582757
ACEROS PARA LA     1656Z SM          -263940.0005   119468482.1
ACTUACIONES ACTI   AGR SM            -102379482.8   427577243.8
ADRIA AIRWAYS      54757Z SV         -51858436.56   134746896.3
ADRIA CABLE BV     4044453Z NA       -62348693.94   188829025.3
ADVANCE DISPLAY    ADTP PZ            -3015579018    2590008061
ADVANCE DISPLAY    ADTPEUR EO         -3015579018    2590008061
ADVANCE DISPLAY    ADTPEUR EU         -3015579018    2590008061
AEA TECHNOLO-FPR   AATF PZ             -251538429   142000079.4
AEA TECHNOLO-FPR   AATF LN             -251538429   142000079.4
AEA TECHNOLO-NPR   AATN PZ             -251538429   142000079.4
AEA TECHNOLO-NPR   AATN LN             -251538429   142000079.4
AEA TECHNOLOGY     AAT PO              -251538429   142000079.4
AEA TECHNOLOGY     AAT VX              -251538429   142000079.4
AEA TECHNOLOGY     AAT IX              -251538429   142000079.4
AEA TECHNOLOGY     EAETF US            -251538429   142000079.4
AEA TECHNOLOGY G   AATGBP EO           -251538429   142000079.4
AEA TECHNOLOGY G   1005182D GR         -251538429   142000079.4
AEA TECHNOLOGY G   AAT LN              -251538429   142000079.4
AEA TECHNOLOGY G   0884037D EO         -251538429   142000079.4
AEA TECHNOLOGY G   AEATF US            -251538429   142000079.4
AEA TECHNOLOGY G   0884036D EU         -251538429   142000079.4
AEA TECHNOLOGY G   AAT PZ              -251538429   142000079.4
AEGEK              AGEKF US          -129281233.7   283727598.7
AEGEK              AEGEK GA          -129281233.7   283727598.7
AEGEK              AEGEK EO          -129281233.7   283727598.7
AEGEK              AGK GR            -129281233.7   283727598.7
AEGEK              AEGEK PZ          -129281233.7   283727598.7
AEGEK              AEGEK EU          -129281233.7   283727598.7
AEGEK S.A.         AEGEKY B3         -129281233.7   283727598.7
AEGEK S.A.         AEGEKY L3         -129281233.7   283727598.7
AEGEK S.A.         AEGEKY S2         -129281233.7   283727598.7
AEGEK S.A. - RTS   989399Q GA        -129281233.7   283727598.7
AEGEK S.A.-RTS     AEGEPR GA         -129281233.7   283727598.7
AEGEK S.A.-RTS     AEGEKR GA         -129281233.7   283727598.7
AEGEK SA-AUCTION   AEGEKE GA         -129281233.7   283727598.7
AEGEK-PFD          2733073Q EU       -129281233.7   283727598.7
AEGEK-PFD          AEGEP GA          -129281233.7   283727598.7
AEGEK-PFD          2733077Q EO       -129281233.7   283727598.7
AEGEK-PFD          AEGEP PZ          -129281233.7   283727598.7
AEGEK-PFD AUCTIO   AEGEPE GA         -129281233.7   283727598.7
AFFINITI INTEGRA   1651064Z LN       -436307727.6   341755295.2
AFRICA OFFSHORE    AOSA NO             -280249984     357512992
AG PETZETAKIS SA   PZETF US          -110809481.9   206423169.8
AG PETZETAKIS SA   PTZ1 GR           -110809481.9   206423169.8
AG PETZETAKIS SA   PETZK EO          -110809481.9   206423169.8
AG PETZETAKIS SA   PETZK EU          -110809481.9   206423169.8
AG PETZETAKIS SA   PETZK PZ          -110809481.9   206423169.8
AG PETZETAKIS SA   PTZ GR            -110809481.9   206423169.8
AG PETZETAKIS SA   PETZK GA          -110809481.9   206423169.8
AGOR AG            NDAGF US          -482467.0522   144438127.4
AGOR AG            DOO GR            -482467.0522   144438127.4
AGOR AG            DOO EU            -482467.0522   144438127.4
AGOR AG            DOOD PZ           -482467.0522   144438127.4
AGOR AG            DOO EO            -482467.0522   144438127.4
AGOR AG            DOOG IX           -482467.0522   144438127.4
AGOR AG            DOO S1            -482467.0522   144438127.4
AGOR AG-RTS        2301918Z GR       -482467.0522   144438127.4
AGORA SHOPPING C   214766Z LN        -50701197.21   252336526.8
AGRUPACIO - RT     AGR/D SM          -102379482.8   427577243.8
AIR BERLIN PLC     AB1 S1            -139659058.8    2886844064
AIR BERLIN PLC     AB1 NQ            -139659058.8    2886844064
AIR BERLIN PLC     AIBEF US          -139659058.8    2886844064
AIR BERLIN PLC     AB1 QM            -139659058.8    2886844064
AIR BERLIN PLC     AB1 PZ            -139659058.8    2886844064
AIR BERLIN PLC     AB1D S2           -139659058.8    2886844064
AIR BERLIN PLC     AB1 BQ            -139659058.8    2886844064
AIR BERLIN PLC     AB1 EU            -139659058.8    2886844064
AIR BERLIN PLC     AB1GBX EU         -139659058.8    2886844064
AIR BERLIN PLC     AB1 EB            -139659058.8    2886844064
AIR BERLIN PLC     AB1 QT            -139659058.8    2886844064
AIR BERLIN PLC     AB1GBP EO         -139659058.8    2886844064
AIR BERLIN PLC     AB1 TH            -139659058.8    2886844064
AIR BERLIN PLC     AB1D L3           -139659058.8    2886844064
AIR BERLIN PLC     ABOG IX           -139659058.8    2886844064
AIR BERLIN PLC     AB1D B3           -139659058.8    2886844064
AIR BERLIN PLC     AB1 IX            -139659058.8    2886844064
AIR BERLIN PLC     AB1 TQ            -139659058.8    2886844064
AIR BERLIN PLC     AB1GBX EO         -139659058.8    2886844064
AIR BERLIN PLC     AB1 GR            -139659058.8    2886844064
AIR BERLIN PLC     AB1 EO            -139659058.8    2886844064
AIR BERLIN PLC     AB1 SW            -139659058.8    2886844064
AIR COMMAND SYST   4470055Z FP       -30657158.94   217998392.9
AIR FRA-KLM-ADR    AFLYY US          -764720024.1   28108299802
AIR FRA-KLM-ADR    AKH US            -764720024.1   28108299802
AIR FRA-KLM-ADR    FQZ GR            -764720024.1   28108299802
AIR FRAN-PAR ENT   2246976Z US       -764720024.1   28108299802
AIR FRANCE         AIFRF US          -764720024.1   28108299802
AIR FRANCE-ADR W   AKH-W US          -764720024.1   28108299802
AIR FRANCE-KLM     AF NQ             -764720024.1   28108299802
AIR FRANCE-KLM     AFUSD EO          -764720024.1   28108299802
AIR FRANCE-KLM     AFA NA            -764720024.1   28108299802
AIR FRANCE-KLM     AF MT             -764720024.1   28108299802
AIR FRANCE-KLM     AFR TH            -764720024.1   28108299802
AIR FRANCE-KLM     AF QM             -764720024.1   28108299802
AIR FRANCE-KLM     AIRF IX           -764720024.1   28108299802
AIR FRANCE-KLM     AFGBP EO          -764720024.1   28108299802
AIR FRANCE-KLM     AFUSD EU          -764720024.1   28108299802
AIR FRANCE-KLM     AF QX             -764720024.1   28108299802
AIR FRANCE-KLM     AFRAF US          -764720024.1   28108299802
AIR FRANCE-KLM     AFR GR            -764720024.1   28108299802
AIR FRANCE-KLM     AFCHF EO          -764720024.1   28108299802
AIR FRANCE-KLM     AIRF LI           -764720024.1   28108299802
AIR FRANCE-KLM     AFGBX EO          -764720024.1   28108299802
AIR FRANCE-KLM     AF EB             -764720024.1   28108299802
AIR FRANCE-KLM     AF EU             -764720024.1   28108299802
AIR FRANCE-KLM     AIKL IX           -764720024.1   28108299802
AIR FRANCE-KLM     AFP B3            -764720024.1   28108299802
AIR FRANCE-KLM     AF FP             -764720024.1   28108299802
AIR FRANCE-KLM     AF S1             -764720024.1   28108299802
AIR FRANCE-KLM     AF BQ             -764720024.1   28108299802
AIR FRANCE-KLM     AFNV FP           -764720024.1   28108299802
AIR FRANCE-KLM     AF VX             -764720024.1   28108299802
AIR FRANCE-KLM     AFR QT            -764720024.1   28108299802
AIR FRANCE-KLM     AF GK             -764720024.1   28108299802
AIR FRANCE-KLM     AFP L3            -764720024.1   28108299802
AIR FRANCE-KLM     AF PZ             -764720024.1   28108299802
AIR FRANCE-KLM     AF EO             -764720024.1   28108299802
AIR FRANCE-KLM     AFP S2            -764720024.1   28108299802
AIR FRANCE-KLM     AF SW             -764720024.1   28108299802
AIR FRANCE-KLM     AFGBX EU          -764720024.1   28108299802
AIR FRANCE-KLM     AF TQ             -764720024.1   28108299802
AIR FRANCE-KLM     AFCHF EU          -764720024.1   28108299802
AIR FRANCE-KLM     AF TE             -764720024.1   28108299802
AIR FRANCE-NEW     AFNN FP           -764720024.1   28108299802
AIR FRANCE-OLD     1010Q FP          -764720024.1   28108299802
AIRBUS MILITARY    4456697Z SM        -48974067.1    2049792335
AIRBUS OPERATION   4435153Z LN       -622881599.4    5619187195
AIRTOURS PLC       AIR LN              -379731744    1817560463
AIRTOURS PLC       AIR VX              -379731744    1817560463
AIRTOURS PLC       ATORF US            -379731744    1817560463
AKCIONERNOE-BRD    SOVP$ RU          -8432780.313   229071575.4
AKER BRYGGE AS     4447369Z NO       -48154701.45   699923492.2
AKER ELEKTRO AS    4389353Z NO       -35849851.01   136482190.9
AKER FLOATING PR   AKFP BY              -16100000     765200000
AKER FLOATING PR   AKFP PZ              -16100000     765200000
AKER FLOATING PR   AKFPEUR EU           -16100000     765200000
AKER FLOATING PR   AKFPEUR EO           -16100000     765200000
AKER FLOATING PR   AKNO IX              -16100000     765200000
AKER FLOATING PR   AKFP EU              -16100000     765200000
AKER FLOATING PR   AKFP EO              -16100000     765200000
AKER FLOATING PR   AKFP NO              -16100000     765200000
AKER MARINE CONT   4414377Z NO       -58718358.92     165264364
AKER STORD A/S     4498875Z NO       -216314138.2   694523053.4
AKER SUBSEA AS     4394593Z NO        -4078325.72    1050122582
AKZO NOBEL POWDE   1472346Z LN       -45561469.76   146392085.3
ALAPIS HOLDIN-RT   ALAPISR GA         -1446551773   135183840.6
ALAPIS HOLDING     3385874Q GA        -1446551773   135183840.6
ALAPIS HOLDING I   VETER GA           -1446551773   135183840.6
ALAPIS HOLDING I   FFEFD S2           -1446551773   135183840.6
ALAPIS HOLDING I   VTERF US           -1446551773   135183840.6
ALAPIS HOLDING I   FFEFD B3           -1446551773   135183840.6
ALAPIS HOLDING I   FFE GR             -1446551773   135183840.6
ALAPIS HOLDING I   V2R GR             -1446551773   135183840.6
ALAPIS HOLDING I   ALAPIS EU          -1446551773   135183840.6
ALAPIS HOLDING I   FFEFD L3           -1446551773   135183840.6
ALAPIS R-R         ALAPV10 GA         -1446551773   135183840.6
ALAPIS REPO        ALAPL10 GA         -1446551773   135183840.6
ALAPIS SA          ALAPIS PZ          -1446551773   135183840.6
ALAPIS SA          APSHF US           -1446551773   135183840.6
ALAPIS SA          FFEB GR            -1446551773   135183840.6
ALAPIS SA          FFEF GR            -1446551773   135183840.6
ALAPIS SA          ALAPI EO           -1446551773   135183840.6
ALAPIS SA          ALAPI EU           -1446551773   135183840.6
ALAPIS SA          ALAPIS GA          -1446551773   135183840.6
ALBERTO MARTINS    4488947Z PL       -25419628.18   123489526.4
ALCATEL LUCENT N   4043757Z NA       -21653637.64   116356629.5
ALCATEL-LUCENT E   3642975Z FP       -11149272.86   424795289.8
ALCATEL-LUCENT F   3647063Z FP         -794545837    4984810705
ALCHEVSKIY         ALMK UZ           -225000006.2    2842475698
ALECTRA FINANCE    4505075Z ID       -12800137.51    1082862962
ALL3MEDIA HOLDIN   4500027Z LN       -646613627.6   802966892.4
ALLDAYS PLC        317056Q LN          -120493900   252232072.9
ALLDAYS PLC        ALDYF US            -120493900   252232072.9
ALLIANCE & LEICE   1603082Z LN       -362201146.6    3707343539
ALLIANCE FILMS U   1774537Z LN       -15721068.24   102608688.7
ALLIANCE RUSSIAN   ALRT RU           -15214267.61     144581794
ALPHA CREDIT GRP   2398Z LN          -128161721.8    6765275654
ALPOS DD           APOG SV           -67350276.85   175193779.3
ALPOS DD           APOG EO           -67350276.85   175193779.3
ALPOS DD           APOG PZ           -67350276.85   175193779.3
ALPOS DD           APOG EU           -67350276.85   175193779.3
ALSTOM HYDRO ESP   4375881Z SM       -42000468.63   613243761.9
ALSTOM WIND SLU    1009322Z SM       -34872511.82   509075734.9
ALTAIR ISSY SAS    4682609Z FP       -567399.4453   270262865.7
ALTOS HORNOS VIZ   AHV SM            -115822618.8    1283089189
ALUMINIUM PECHIN   3650903Z FP       -831091697.8   722884358.5
AMARIN CORP -ADR   AMRN US              -88448000     171107008
AMARIN CORP -ADR   EH3 GR               -88448000     171107008
AMARIN CORP -ADR   EH3A GR              -88448000     171107008
AMARIN CORP -ADR   AMRND US             -88448000     171107008
AMARIN CORP -ADR   EH3A TH              -88448000     171107008
AMARIN CORP PLC    AMRNF EU             -88448000     171107008
AMARIN CORP PLC    AMRN LN              -88448000     171107008
AMARIN CORP PLC    H2E GR               -88448000     171107008
AMARIN CORP PLC    AMRJF US             -88448000     171107008
AMARIN CORP PLC    AMRN PO              -88448000     171107008
AMARIN CORP PLC    AMRNF US             -88448000     171107008
AMARIN CORP PLC    AMRN ID              -88448000     171107008
AMARIN CORP PLC    H2EA GR              -88448000     171107008
AMARIN CORP PLC    H2E PZ               -88448000     171107008
AMARIN CORP PLC    AMRNF EO             -88448000     171107008
AMER BUS SYS       ARB LN              -497126976     121439000
AMEY PLC           AMY VX            -48862569.33   931527720.5
AMEY PLC           AMY LN            -48862569.33   931527720.5
AMEY PLC           AMEYF US          -48862569.33   931527720.5
AMEY PLC-ASSENT    AMYA LN           -48862569.33   931527720.5
AMEY PLC-NEW       AMYN LN           -48862569.33   931527720.5
AMO ZIL-CLS        ZILL* RU          -237320797.3   371525868.1
AMO ZIL-CLS        ZILLG RU          -237320797.3   371525868.1
AMO ZIL-CLS        ZILL RM           -237320797.3   371525868.1
AMO ZIL-CLS        ZILL RU           -237320797.3   371525868.1
AMPER SA           AMPE S2           -118877663.7   251701787.9
AMPER SA           AMP SM            -118877663.7   251701787.9
AMPER SA           APMRF US          -118877663.7   251701787.9
AMPER SA           AMPE B3           -118877663.7   251701787.9
AMPER SA           AMP1 EU           -118877663.7   251701787.9
AMPER SA           APR GR            -118877663.7   251701787.9
AMPER SA           AMP1 EB           -118877663.7   251701787.9
AMPER SA           AMPS PZ           -118877663.7   251701787.9
AMPER SA           AMPE L3           -118877663.7   251701787.9
AMPER SA           AMP1 IX           -118877663.7   251701787.9
AMPER SA           AMP1 S1           -118877663.7   251701787.9
AMPER SA           AMP1 TQ           -118877663.7   251701787.9
AMPER SA           AMP1 EO           -118877663.7   251701787.9
AMPER SA - RTS     AMP/D SM          -118877663.7   251701787.9
AMPER SA - RTS     APRA GR           -118877663.7   251701787.9
AMPER SA - RTS     0881324D SM       -118877663.7   251701787.9
AMTEL-POVOLZ-BRD   KIRT RU           -17984240.01   104831160.6
AMTEL-POVOLZ-BRD   KIRT* RU          -17984240.01   104831160.6
ANEK LINES P-RTS   ANEPOR GA         -2285848.991   469901082.9
ANEK LINES P-RTS   ANEPR GA          -2285848.991   469901082.9
ANEK LINES PFD/I   ANEPY B3          -2285848.991   469901082.9
ANEK LINES PFD/I   ANEPY S2          -2285848.991   469901082.9
ANEK LINES PFD/I   ANEPOY B3         -2285848.991   469901082.9
ANEK LINES PFD/I   ANEPOY L3         -2285848.991   469901082.9
ANEK LINES PFD/I   ANEPOY S2         -2285848.991   469901082.9
ANEK LINES PFD/I   ANEPY L3          -2285848.991   469901082.9
ANEK LINES R-R     ANEKV10 GA        -2285848.991   469901082.9
ANEK LINES REPO    ANEKL10 GA        -2285848.991   469901082.9
ANEK LINES S-RTS   ANEKR GA          -2285848.991   469901082.9
ANEK LINES SA      ANEK PZ           -2285848.991   469901082.9
ANEK LINES SA      ANEKY B3          -2285848.991   469901082.9
ANEK LINES SA      ANEK GA           -2285848.991   469901082.9
ANEK LINES SA      AKL GR            -2285848.991   469901082.9
ANEK LINES SA      AKLP GR           -2285848.991   469901082.9
ANEK LINES SA      ANKZF US          -2285848.991   469901082.9
ANEK LINES SA      ANEK EO           -2285848.991   469901082.9
ANEK LINES SA      ANEK EU           -2285848.991   469901082.9
ANEK LINES SA      ANEKY S2          -2285848.991   469901082.9
ANEK LINES SA      ANEKY L3          -2285848.991   469901082.9
ANEK LINES SA-R    ANEKV13 GA        -2285848.991   469901082.9
ANEK LINES SA-RE   ANEKL13 GA        -2285848.991   469901082.9
ANEK LINES SA-RT   8207309Q GA       -2285848.991   469901082.9
ANEK LINES-PF RT   ANPOR GA          -2285848.991   469901082.9
ANEK LINES-PF RT   8207313Q GA       -2285848.991   469901082.9
ANEK LINES-PFD     ANEP EU           -2285848.991   469901082.9
ANEK LINES-PFD     ANEPO GA          -2285848.991   469901082.9
ANEK LINES-PFD     ANEPO EO          -2285848.991   469901082.9
ANEK LINES-PFD     ANEPO EU          -2285848.991   469901082.9
ANEK LINES-PFD     ANEP PZ           -2285848.991   469901082.9
ANEK LINES-PFD     ANEP EO           -2285848.991   469901082.9
ANEK LINES-PFD     ANEP GA           -2285848.991   469901082.9
ANKER PLC          ANK PO            -21861359.81     115463159
ANKER PLC          DW14 GR           -21861359.81     115463159
ANKER PLC          ANK LN            -21861359.81     115463159
ANKER PLC - ASSD   ANKC LN           -21861359.81     115463159
ANKER PLC - ASSD   ANKB LN           -21861359.81     115463159
ANKER PLC-ASSD     ANKA LN           -21861359.81     115463159
ANTWERP GATEWAY    496769Z BB        -73080114.22   225706170.5
APERAM STAINLESS   4783273Z FP        -5965310.53   552964689.4
APK OGO OAO        AOGO RU           -5163579.316   164058148.4
AQUIRIS SA         559158Z BB        -2420703.165   256094171.2
ARCADE PROPERTY    4461121Z ID       -271769574.6   854837506.8
ARCADIA PETROLEU   645232Z LN           -56648000     258746000
ARCELORMITTAL      PTRO RO            -61078989.5   178664384.2
ARDAGH GLASS FIN   3489820Z ID       -425707082.8    5124657810
AREMZO BV          3772972Z NA       -34197.38617   140093566.7
AREVA              CEI PZ            -296450009.3   36203201141
AREVA              AREVA BQ          -296450009.3   36203201141
AREVA              AREVAP B3         -296450009.3   36203201141
AREVA              AREVA EU          -296450009.3   36203201141
AREVA              AREVAUSD EO       -296450009.3   36203201141
AREVA              CEI EO            -296450009.3   36203201141
AREVA              AREVA IX          -296450009.3   36203201141
AREVA              CEI LI            -296450009.3   36203201141
AREVA              AREVA EB          -296450009.3   36203201141
AREVA              AREVAGBX EO       -296450009.3   36203201141
AREVA              AREVAP S2         -296450009.3   36203201141
AREVA              AREVA GK          -296450009.3   36203201141
AREVA              AREVA QM          -296450009.3   36203201141
AREVA              AREVAUSD EU       -296450009.3   36203201141
AREVA              ARVCF US          -296450009.3   36203201141
AREVA              AREVA S1          -296450009.3   36203201141
AREVA              A9RB TH           -296450009.3   36203201141
AREVA              A9RB QT           -296450009.3   36203201141
AREVA              A9RB GR           -296450009.3   36203201141
AREVA              AREVAP L3         -296450009.3   36203201141
AREVA              AREVA TQ          -296450009.3   36203201141
AREVA              AREVA FP          -296450009.3   36203201141
AREVA              AREVA QX          -296450009.3   36203201141
AREVA              AREVAGBP EO       -296450009.3   36203201141
AREVA              AREVAGBX EU       -296450009.3   36203201141
AREVA              A9R TH            -296450009.3   36203201141
AREVA - CI - RTS   8285157Q GR       -296450009.3   36203201141
AREVA - CI - RTS   CEIDS FP          -296450009.3   36203201141
AREVA CIP-UN ADR   ARVCY US          -296450009.3   36203201141
AREVA SA - PREF    CEIAP FP          -296450009.3   36203201141
AREVA-CI           A9R GR            -296450009.3   36203201141
AREVA-CI           CEIGBX EU         -296450009.3   36203201141
AREVA-CI           CEIGBX EO         -296450009.3   36203201141
AREVA-CI           CEI QM            -296450009.3   36203201141
AREVA-CI           CEI FP            -296450009.3   36203201141
AREVA-CI           CEI TQ            -296450009.3   36203201141
AREVA-CI           CEI BQ            -296450009.3   36203201141
AREVA-CI           CEPF IX           -296450009.3   36203201141
AREVA-CI           CEIGBP EO         -296450009.3   36203201141
AREVA-CI           CEI S1            -296450009.3   36203201141
AREVA-CI           CEI EU            -296450009.3   36203201141
AREVA-CI           CEI EB            -296450009.3   36203201141
AREVA-CI           CEI IX            -296450009.3   36203201141
AREVA-CI           CEIUSD EU         -296450009.3   36203201141
AREVA-CI           CEI GK            -296450009.3   36203201141
AREVA-CI           CEI NQ            -296450009.3   36203201141
AREVA-CI           CEIUSD EO         -296450009.3   36203201141
AREVA-ORDINARY     8381831Q GR       -296450009.3   36203201141
ARGEK SA-PFD RTS   989391Q GA        -129281233.7   283727598.7
ARGENTA UNDERWRI   2619614Z LN       -3429270.883     137134947
ARMAJARO TRADING   3900922Z LN       -35780000.42   948870011.7
ARNOTTS HOLDINGS   4462545Z ID       -366474765.3     152226036
ARTICON-INTE-NEW   AAG1 GR           -30518620.96   237457667.5
ARTICON-INTE-NEW   AAG3 GR           -30518620.96   237457667.5
ARTICON-INTE-RTS   AAG8 GR           -30518620.96   237457667.5
ARTICON-INTE-RTS   AAG8 NM           -30518620.96   237457667.5
ARTICON-INTEGR-N   AAG2 GR           -30518620.96   237457667.5
ARTICON-INTEGRAL   AAGN NM           -30518620.96   237457667.5
ARTICON-INTEGRAL   AAG NM            -30518620.96   237457667.5
ARTICON-INTEGRAL   AIT LI            -30518620.96   237457667.5
ARTICON-INTEGRAL   AAG GR            -30518620.96   237457667.5
ARTICON-INTEGRAL   229071Q LN        -30518620.96   237457667.5
AS ROMA SPA        RO9 GR            -111338028.6     294452725
AS ROMA SPA        ASR IM            -111338028.6     294452725
AS ROMA SPA        ASRO IX           -111338028.6     294452725
AS ROMA SPA        ASRM B3           -111338028.6     294452725
AS ROMA SPA        ASRM L3           -111338028.6     294452725
AS ROMA SPA        ASR EB            -111338028.6     294452725
AS ROMA SPA        ASR EU            -111338028.6     294452725
AS ROMA SPA        ASR IX            -111338028.6     294452725
AS ROMA SPA        ASR S1            -111338028.6     294452725
AS ROMA SPA        ASRM S2           -111338028.6     294452725
AS ROMA SPA        ASR QM            -111338028.6     294452725
AS ROMA SPA        ASRAF US          -111338028.6     294452725
AS ROMA SPA        ASR BQ            -111338028.6     294452725
AS ROMA SPA        ASR EO            -111338028.6     294452725
AS ROMA SPA        ASR TQ            -111338028.6     294452725
AS ROMA SPA        ASR PZ            -111338028.6     294452725
AS ROMA SPA RTS    ASRAZEUR EU       -111338028.6     294452725
AS ROMA SPA RTS    ASRAXM IX         -111338028.6     294452725
AS ROMA SPA RTS    ASRAZEUR EO       -111338028.6     294452725
AS ROMA SPA RTS    ASRAXM EB         -111338028.6     294452725
AS ROMA SPA RTS    ASRAZA IM         -111338028.6     294452725
AS ROMA SPA RTS    ASRAZM TQ         -111338028.6     294452725
AS ROMA SPA-RTS    ASRAA IM          -111338028.6     294452725
ASCOT RACECOURSE   1965934Z LN       -75993211.73   229117719.4
ASHWELL PROPERTY   4165857Z LN       -192048023.3   200163088.3
ASITO DIENSTENGR   743813Z NA        -2494804.851   220704023.7
ASPIS BANK SA      ASEUF US          -46224213.41    3486115450
ASPIS BANK-RIGHT   365673Q GA        -46224213.41    3486115450
ASPIS BANK-RTS     3558423Q GA       -46224213.41    3486115450
ASPIS BANK-RTS     839325Q GA        -46224213.41    3486115450
ASPIS BANK-RTS     ASPTR GA          -46224213.41    3486115450
ASPIS MORT-RTS     ASPTD GA          -46224213.41    3486115450
ASPIS PRON-PF RT   ASASPR GA         -189911036.1   896550129.3
ASPIS PRONIA -PF   ASAPR GA          -189911036.1   896550129.3
ASPIS PRONIA GE    ASASK GA          -189911036.1   896550129.3
ASPIS PRONIA GE    ASASK PZ          -189911036.1   896550129.3
ASPIS PRONIA GE    ASASK EU          -189911036.1   896550129.3
ASPIS PRONIA GE    AISQF US          -189911036.1   896550129.3
ASPIS PRONIA GE    ASASK EO          -189911036.1   896550129.3
ASPIS PRONIA-PF    APGV GR           -189911036.1   896550129.3
ASPIS PRONIA-PF    ASASP GA          -189911036.1   896550129.3
ASPIS PRONIA-RT    ASASKR GA         -189911036.1   896550129.3
ASPIS PRONOIA GE   APG GR            -189911036.1   896550129.3
ASPIS PRONOIA GE   APGG IX           -189911036.1   896550129.3
ASR VASTGOED ONT   4039981Z NA       -24447897.91   292472974.2
ASTON VILLA FOOT   1768569Z LN       -211955267.1   117946484.4
ATLANTIC COPPER    4512291Z SM       -21013583.14    1043171373
ATLANTIC SUPERMA   ATLA PZ           -76261648.16   315891294.2
ATLANTIC SUPERMA   ATLA GA           -76261648.16   315891294.2
ATLANTIC SUPERMA   ATLA1 EU          -76261648.16   315891294.2
ATLANTIC SUPERMA   ATLA1 EO          -76261648.16   315891294.2
ATOS ORIGIN INTE   4519607Z FP       -17395808.68   356910606.2
ATTI-KAT           ATTIK GA          -56530409.47   191944957.4
ATTI-KAT           XTT GR            -56530409.47   191944957.4
ATTI-KAT           ATTIK EO          -56530409.47   191944957.4
ATTI-KAT           ATTIK EU          -56530409.47   191944957.4
ATTI-KAT           ATTIK PZ          -56530409.47   191944957.4
ATTI-KAT RTS       ATTID GA          -56530409.47   191944957.4
ATTI-KAT SA-AUCT   ATIKE GA          -56530409.47   191944957.4
ATTIKAT S.A.       ATTIKY S2         -56530409.47   191944957.4
ATTIKAT S.A.       ATTIKY B3         -56530409.47   191944957.4
ATTIKAT S.A.       ATTIKY L3         -56530409.47   191944957.4
ATTIKAT-AUCTION    ATTIKE GA         -56530409.47   191944957.4
ATU AUTO-TEILE-U   3486988Z GR       -571062299.6   546297842.8
AUBURN ACQUISITI   4453705Z LN         -437104257    1605290465
AURIGACROWN CAR    3791672Z SM       -9696676.632   319021086.5
AUTO TRADER        AUTOL B3          -288837782.6   616716105.5
AUTO TRADER        AUTOEUR EO        -288837782.6   616716105.5
AUTO TRADER        AUTOEUR EU        -288837782.6   616716105.5
AUTO TRADER        AUTOL IX          -288837782.6   616716105.5
AUTO TRADER        AUTOL S2          -288837782.6   616716105.5
AUTO TRADER        AUTOL EB          -288837782.6   616716105.5
AUTO TRADER        AUTOL TQ          -288837782.6   616716105.5
AUTO TRADER        AUTOAL S1         -288837782.6   616716105.5
AUTO TRADER        AUTOL L3          -288837782.6   616716105.5
AUTO TRADER        2UA GR            -288837782.6   616716105.5
AUTO TRADER        AUTOGBX EU        -288837782.6   616716105.5
AUTO TRADER        AUTOGBX EO        -288837782.6   616716105.5
AUTO TRADER        AUTO LN           -288837782.6   616716105.5
AUTO TRADER GROU   1239634D LN       -288837782.6   616716105.5
AUTO-INDUSTRIAL    3482374Z PL       -3916462.237   125097850.1
AUTOMOBILE ASSOC   1479490Z LN       -75794419.73   215975911.6
AUTOMOBILE CO BO   0850360D US       -19015213.25   303496524.6
AUTOMOBILES CITR   3648863Z FP       -125854259.5    1955037586
AUTOMOTIVE LIGHT   3895734Z IM       -8707502.577   163886427.3
AUTOROUTES PARIS   ARRGBX EU         -89943297.24   11659772905
AUTOROUTES PARIS   ARR EO            -89943297.24   11659772905
AUTOROUTES PARIS   RK9 TH            -89943297.24   11659772905
AUTOROUTES PARIS   ARR LI            -89943297.24   11659772905
AUTOROUTES PARIS   ARR IX            -89943297.24   11659772905
AUTOROUTES PARIS   ARR1 BQ           -89943297.24   11659772905
AUTOROUTES PARIS   ARR QM            -89943297.24   11659772905
AUTOROUTES PARIS   ARR FP            -89943297.24   11659772905
AUTOROUTES PARIS   ARR S1            -89943297.24   11659772905
AUTOROUTES PARIS   ARR EU            -89943297.24   11659772905
AUTOROUTES PARIS   ARR TQ            -89943297.24   11659772905
AUTOROUTES PARIS   ARR EB            -89943297.24   11659772905
AVAST SOFTWARE B   0112793D US          -15842000     132342000
AVAST SOFTWARE N   AVST US              -15842000     132342000
AVAYA HOLDINGS L   4491803Z ID       -621072180.7     411838418
AVAYA UK           1700688Z LN       -108636476.4   372961487.6
AVIS ALQUILE UN    3753296Z SM       -21373936.47   271716792.1
AVIS BUDGET UK L   4503067Z LN       -5383949.995   452091122.6
AVIVA CENTRAL SE   4503755Z LN       -77860199.93   856462199.2
AXON SA HOLDING    AYW1 GR           -168132402.1   707983030.3
AXON SA HOLDING    AXONY S2          -168132402.1   707983030.3
AXON SA HOLDING    AXONR GA          -168132402.1   707983030.3
AXON SA HOLDING    AXON GA           -168132402.1   707983030.3
AXON SA HOLDING    AXON EU           -168132402.1   707983030.3
AXON SA HOLDING    AYW GR            -168132402.1   707983030.3
AXON SA HOLDING    AXON PZ           -168132402.1   707983030.3
AXON SA HOLDING    AXON EO           -168132402.1   707983030.3
AXON SA HOLDING    AXONY L3          -168132402.1   707983030.3
AXON SA HOLDING    AXONY B3          -168132402.1   707983030.3
AZOT CHERKASY      AZCYF US          -144125969.1   731869410.6
AZOT CHERKASY      AZOT UZ           -144125969.1   731869410.6
AZOT OPEN-GDR      A9T GR            -144125969.1   731869410.6
AZOVZAGALMASH MA   AZGM UZ           -201003976.4   323492277.6
B&M EUROPEAN       BMEL IX            -31468050.5    2018470277
B&M EUROPEAN       BME LN             -31468050.5    2018470277
B&M EUROPEAN       BMEL TQ            -31468050.5    2018470277
B&M EUROPEAN       BME1GBP EO         -31468050.5    2018470277
B&M EUROPEAN       BMEL S2            -31468050.5    2018470277
B&M EUROPEAN       BMEL B3            -31468050.5    2018470277
B&M EUROPEAN       BMEL BQ            -31468050.5    2018470277
B&M EUROPEAN       BME1EUR EU         -31468050.5    2018470277
B&M EUROPEAN       BME1GBX EU         -31468050.5    2018470277
B&M EUROPEAN       BMN GR             -31468050.5    2018470277
B&M EUROPEAN       BME1GBX EO         -31468050.5    2018470277
B&M EUROPEAN       BME1EUR EO         -31468050.5    2018470277
B&M EUROPEAN       BME1 S1            -31468050.5    2018470277
B&M EUROPEAN       BMEL L3            -31468050.5    2018470277
B&M EUROPEAN       BMRPF US           -31468050.5    2018470277
B&M EUROPEAN       BME1GBP EU         -31468050.5    2018470277
B&M EUROPEAN       BME1USD EO         -31468050.5    2018470277
B&M EUROPEAN       BMEL EB            -31468050.5    2018470277
B&M EUROPEAN       BME1USD EU         -31468050.5    2018470277
B&M EUROPEAN VAL   0994508D LN        -31468050.5    2018470277
BAAN CO NV-ASSEN   BAANA NA          -7854715.264   609871188.9
BAAN COMPANY NV    BAAN EU           -7854715.264   609871188.9
BAAN COMPANY NV    BAAN PZ           -7854715.264   609871188.9
BAAN COMPANY NV    BNCG IX           -7854715.264   609871188.9
BAAN COMPANY NV    BAAVF US          -7854715.264   609871188.9
BAAN COMPANY NV    BAAN GR           -7854715.264   609871188.9
BAAN COMPANY NV    BAAN NA           -7854715.264   609871188.9
BAAN COMPANY NV    BAAN IX           -7854715.264   609871188.9
BAAN COMPANY NV    BAAN EO           -7854715.264   609871188.9
BAAN COMPANY-NY    BAANF US          -7854715.264   609871188.9
BADEL 1862 DD      BD62REUR EO       -1388203.083     121963475
BADEL 1862 DD      BD62REUR EU       -1388203.083     121963475
BADEL 1862 DD      BD62RA CZ         -1388203.083     121963475
BADEL 1862 DD      BD62RHRK EU       -1388203.083     121963475
BADEL 1862 DD      BD62RHRK EO       -1388203.083     121963475
BAE SYSTEMS        1538746Z LN       -27870638.37   135571174.1
BAE SYSTEMS INTE   2344987Z LN       -150699245.3   591701047.7
BAE SYSTEMS MARI   1290786Z LN       -49863659.95   723768539.3
BAE SYSTEMS PROP   1151751Z LN       -80424616.73    1099382736
BAKERS AS          4527631Z NO       -21452603.39   110897168.6
BALLYMORE PROPER   162707Z ID        -811238718.9   594756063.8
BALTIYSKY ZAVOD    BALZ RU           -51839852.99   174079813.8
BALTIYSKY-$BRD     BALZ* RU          -51839852.99   174079813.8
BALTIYSKY-BRD      BALZ$ RU          -51839852.99   174079813.8
BANK OF SCOTLAND   1419810Z LN       -9546369.495   527923743.6
BANQ COLBERT       BD FP             -36259931.33    1574292181
BANQ NAT SUISS-N   BNS SW             -4267161939      5.52E+11
BARINA CONSTRUCT   3800988Z ID       -15711770.45   142567457.5
BAS HOLDING BV     3775792Z NA       -9652.300358   125821871.9
BASF PERFORMANCE   1598Z LN          -35298832.77    1084597595
BCH GROUP PLC      BCH LN            -5728447.595   187998896.2
BEGAR CONSTRUCCI   4413073Z SM       -154089924.8   215029526.1
BELGES -SERIES B   BELB SW           -893745521.6   37018974117
BEMOG HOLDING BV   3782400Z NA       -36867.13927   131874844.6
BENTLEY MOTORS L   1376666Z LN       -231095699.8   952710712.1
BERIEV AIRCR-BRD   TAKB* RU          -38474597.15   636498663.5
BERIEV AIRCR-BRD   TAKB RU           -38474597.15   636498663.5
BETFAIR LTD        83844Z LN         -78396193.01   470492129.2
BGE UK LTD         1653368Z LN       -31957706.96   460423898.3
BHFS ONE LTD       3804484Z LN       -28127755.95   259846721.7
BIOTER             BIOT1 EO             -23829660   155608222.9
BIOTER             BIOT1 EU             -23829660   155608222.9
BIOTER             BIOTG PZ             -23829660   155608222.9
BIOTER             BIOT GA              -23829660   155608222.9
BIOTER S.A.        BIOTY L3             -23829660   155608222.9
BIOTER S.A.        BIOTY B3             -23829660   155608222.9
BIOTER S.A.        BIOTY S2             -23829660   155608222.9
BIRMINGHAM MAILB   1781057Z LN       -6609169.513   116470467.1
BIRSE CIVILS LTD   1333506Z LN       -19911067.63   131366919.1
BKK VARME AS       4445833Z NO       -1073759.829   155465572.1
BL SP PROPERTIES   1255Q LN          -23486399.53   257455674.9
BL SP PROPERTIES   STPPF US          -23486399.53   257455674.9
BLACK HORSE LTD    1336426Z LN       -106973288.3    4066187621
BLENHEIM SHIPPIN   1225303Z LN       -33448690.06   323403866.7
BLUEWATER HOLDIN   3487556Z NA        -1656102998    2014770213
BMS ASSOCIATES L   4471719Z LN       -2791370.997     401417372
BMW NORGE AS       4413913Z NO       -6669664.505   124748386.4
BNB RECRUITMENT    BNB IX            -10242626.17   103637711.2
BNB RECRUITMENT    BNB LN            -10242626.17   103637711.2
BNB RECRUITMENT    BQX GR            -10242626.17   103637711.2
BNB RECRUITMENT    BNBRF US          -10242626.17   103637711.2
BNB RECRUITMENT    BNB PO            -10242626.17   103637711.2
BNP GUYANE         BNPG FP           -40559116.42   352047398.5
BOGDAN MOTORS      LUAZ UZ           -19015213.25   303496524.6
BORGELD MANAGEME   4778257Z NA       -81821.40017     246378742
BPM IRELAND PLC    4471855Z ID       -4595616.014     844447724
BRADSTOCK GROUP    BSKGF US          -1855503.819   268572388.5
BRADSTOCK GROUP    BDK LN            -1855503.819   268572388.5
BRENT WALKER GRO   754087Q LN         -1774306283   867084131.8
BRENT WALKER GRP   BWKGF US           -1774306283   867084131.8
BRIT BROADCAST     1517Z LN          -90866101.03    6000657566
BRIT TELECOM       9484 JP           -375502096.4   40097703217
BRIT TELECOM       BTE GR            -375502096.4   40097703217
BRIT TELECOM PLC   BTPWF US          -375502096.4   40097703217
BRIT TELECOM PLC   BT/A VX           -375502096.4   40097703217
BRIT TELECOM PLC   BTPLF US          -375502096.4   40097703217
BRIT TELECOM-ADR   1481Q CN          -375502096.4   40097703217
BRIT TELECOM-ADR   BTEA GR           -375502096.4   40097703217
BRIT TELECOM-RTS   BTY-R US          -375502096.4   40097703217
BRITISH TELE-FP    BT/F LN           -375502096.4   40097703217
BRITISH TELE-NP    BTPXF US          -375502096.4   40097703217
BRITISH TELE-NP    BT/N LN           -375502096.4   40097703217
BRIXTON GREAT WE   1242343Z LN       -23721760.45   160921160.6
BROKAT AG          BROFQ US          -27134800.92   143511443.1
BROKAT AG          BKISF US          -27134800.92   143511443.1
BROKAT AG          BROAF US          -27134800.92   143511443.1
BROKAT AG          BRKAF US          -27134800.92   143511443.1
BROKAT AG -NEW     BRJ1 GR           -27134800.92   143511443.1
BROKAT AG -NEW     BRJ1 NM           -27134800.92   143511443.1
BROKAT AG-ADR      BROA US           -27134800.92   143511443.1
BROKAT TECH -ADR   BROAQ US          -27134800.92   143511443.1
BROKAT TECH AG     BSA LN            -27134800.92   143511443.1
BROKAT TECH AG     BRJ NM            -27134800.92   143511443.1
BROKAT TECH AG     BRJ GR            -27134800.92   143511443.1
BROKAT TECH-ADR    BRJA GR           -27134800.92   143511443.1
BRUESA CONSTRUCC   4283093Z SM       -19748118.51   423960563.7
BSKYB LLU ASSETS   ESY LN            -13323427.13   573001458.7
BT GROUP PLC       BT/A QM           -375502096.4   40097703217
BT GROUP PLC       BT/APEN EO        -375502096.4   40097703217
BT GROUP PLC       BT/A TQ           -375502096.4   40097703217
BT GROUP PLC       BT/APEN EU        -375502096.4   40097703217
BT GROUP PLC       BT/ VX            -375502096.4   40097703217
BT GROUP PLC       BTQD S2           -375502096.4   40097703217
BT GROUP PLC       BTL S2            -375502096.4   40097703217
BT GROUP PLC       BT/A EB           -375502096.4   40097703217
BT GROUP PLC       BTQ GR            -375502096.4   40097703217
BT GROUP PLC       BT/A PO           -375502096.4   40097703217
BT GROUP PLC       BT/A BQ           -375502096.4   40097703217
BT GROUP PLC       BT IX             -375502096.4   40097703217
BT GROUP PLC       BT/A5 EO          -375502096.4   40097703217
BT GROUP PLC       BT QX             -375502096.4   40097703217
BT GROUP PLC       BT/A6 EO          -375502096.4   40097703217
BT GROUP PLC       BTQ GK            -375502096.4   40097703217
BT GROUP PLC       BT/A7 EO          -375502096.4   40097703217
BT GROUP PLC       BT/A8 EO          -375502096.4   40097703217
BT GROUP PLC       BT/A1 EO          -375502096.4   40097703217
BT GROUP PLC       BT/A S1           -375502096.4   40097703217
BT GROUP PLC       BT/AUSD EU        -375502096.4   40097703217
BT GROUP PLC       BT/AEUR EO        -375502096.4   40097703217
BT GROUP PLC       BTQ TH            -375502096.4   40097703217
BT GROUP PLC       BT/AEUR EU        -375502096.4   40097703217
BT GROUP PLC       BTGOF US          -375502096.4   40097703217
BT GROUP PLC       BT/A NQ           -375502096.4   40097703217
BT GROUP PLC       BT/A2 EO          -375502096.4   40097703217
BT GROUP PLC       BT/A9 EO          -375502096.4   40097703217
BT GROUP PLC       BTQD L3           -375502096.4   40097703217
BT GROUP PLC       BT/AUSD EO        -375502096.4   40097703217
BT GROUP PLC       BTL L3            -375502096.4   40097703217
BT GROUP PLC       BT/A EO           -375502096.4   40097703217
BT GROUP PLC       BT PZ             -375502096.4   40097703217
BT GROUP PLC       BT/A3 EO          -375502096.4   40097703217
BT GROUP PLC       BT/A EU           -375502096.4   40097703217
BT GROUP PLC       BTGOFN L3         -375502096.4   40097703217
BT GROUP PLC       BT/A LN           -375502096.4   40097703217
BT GROUP PLC       BT/A NR           -375502096.4   40097703217
BT GROUP PLC       BT/ EO            -375502096.4   40097703217
BT GROUP PLC       BTEG IX           -375502096.4   40097703217
BT GROUP PLC       BTQD B3           -375502096.4   40097703217
BT GROUP PLC       BT/AGBP EO        -375502096.4   40097703217
BT GROUP PLC       BT/A4 EO          -375502096.4   40097703217
BT GROUP PLC       BTGOFN B3         -375502096.4   40097703217
BT GROUP PLC       BTQ QT            -375502096.4   40097703217
BT GROUP PLC       BTL B3            -375502096.4   40097703217
BT GROUP PLC-ADR   BT/$ LN           -375502096.4   40097703217
BT GROUP PLC-W/I   BTWI LN           -375502096.4   40097703217
BT GROUP-ADR WI    BTY-W US          -375502096.4   40097703217
BT GROUP-CED BLK   BTYB AR           -375502096.4   40097703217
BT GROUP-CEDEAR    BTYC AR           -375502096.4   40097703217
BT GROUP-CEDEAR    BTB AR            -375502096.4   40097703217
BT GROUP-CEDEAR    BT AR             -375502096.4   40097703217
BT GROUP-CEDEAR    BTC AR            -375502096.4   40097703217
BT GROUP-CEDEAR    BTY AR            -375502096.4   40097703217
BT GROUP-CEDEAR    BTD AR            -375502096.4   40097703217
BT GROUP-CEDEAR    BTYD AR           -375502096.4   40097703217
BT GROUP-SPON AD   BTN MM            -375502096.4   40097703217
BT GROUP-SPON AD   BTQA GR           -375502096.4   40097703217
BT GROUP-SPON AD   BT US             -375502096.4   40097703217
BT GROUP-SPON AD   BTYN MM           -375502096.4   40097703217
BT GROUP-SPON AD   BT MM             -375502096.4   40097703217
BT GROUP-SPON AD   BTY US            -375502096.4   40097703217
BUMMASH OJSC-BRD   BUMM RU           -72781463.79   101116053.8
BUMMASH OJSC-BRD   BUMM* RU          -72781463.79   101116053.8
CAFIMA UK LTD      3795756Z LN       -25305047.16   327713869.7
CAISSE D'AMORTIS   211430Z FP           -1.85E+11   25139275408
CAJA ESPANA DE I   8245420Z SM        -1379128733   50004534301
CALEDONIAN ENVIR   3784Z LN          -22697076.58   118884242.3
CALSONIC KANSEI    2730264Z LN       -55236864.62   299341503.4
CALSONIC KANSEI    1541442Z LN       -13552420.65     264873165
CANARY WHARF FIN   1198063Z LN       -309900532.8    3951325073
CANTIERI DI PISA   4313125Z IM       -2612001.657   105470729.3
CAPITAL HOME LOA   3809804Z LN       -290874097.5    9582592884
CARCOOP FRANCE     4690569Z FP       -531946.3216   185619805.2
CARGONET           81784Z NO         -108989727.1   131082417.2
CARISBROOKE ANGL   3815488Z LN       -67890027.38     125400359
CARLISLE GROUP L   506819Q LN        -11904731.18   203553741.8
CARLSBERG IT A/S   4503891Z DC       -102665678.1   387242342.2
CARRERE GROUP      CRRHF US          -9829883.833   279916720.4
CARRERE GROUP      CARG FP           -9829883.833   279916720.4
CARRERE GROUP      CAR2 EO           -9829883.833   279916720.4
CARRERE GROUP      CAR2 EU           -9829883.833   279916720.4
CARRERE GROUP      XRR GR            -9829883.833   279916720.4
CARRERE GROUP      CRGP IX           -9829883.833   279916720.4
CARRERE GROUP      CARF PZ           -9829883.833   279916720.4
CARRERE GROUP SA   CAR FP            -9829883.833   279916720.4
CARRIER1 INT-AD+   CONE ES              -94729000     472360992
CARRIER1 INT-ADR   CONEE US             -94729000     472360992
CARRIER1 INT-ADR   CONEQ US             -94729000     472360992
CARRIER1 INTL      CJN NM               -94729000     472360992
CARRIER1 INTL      8133893Q GR          -94729000     472360992
CARRIER1 INTL      CJNA GR              -94729000     472360992
CARRIER1 INTL SA   CONEF US             -94729000     472360992
CARRIER1 INTL SA   1253Z SW             -94729000     472360992
CATTLES PLC        CTT LN            -599615492.2    3880885246
CATTLES PLC        CHOXF US          -599615492.2    3880885246
CATTLES PLC        CTTEUR EO         -599615492.2    3880885246
CATTLES PLC        0963776D TQ       -599615492.2    3880885246
CATTLES PLC        CTTSEK EU         -599615492.2    3880885246
CATTLES PLC        CTT NQ            -599615492.2    3880885246
CATTLES PLC        CTTUSD EU         -599615492.2    3880885246
CATTLES PLC        0915790D EB       -599615492.2    3880885246
CATTLES PLC        CTT PO            -599615492.2    3880885246
CATTLES PLC        CTTEUR EU         -599615492.2    3880885246
CATTLES PLC        CTTUSD EO         -599615492.2    3880885246
CATTLES PLC        CTTSEK EO         -599615492.2    3880885246
CATTLES PLC        CTT QM            -599615492.2    3880885246
CATTLES PLC        CTT PZ            -599615492.2    3880885246
CATTLES PLC        CTT EO            -599615492.2    3880885246
CATTLES PLC        0915787D IX       -599615492.2    3880885246
CATTLES PLC        0960894D BQ       -599615492.2    3880885246
CATTLES PLC        CTT NR            -599615492.2    3880885246
CATTLES PLC        CTTGBP EO         -599615492.2    3880885246
CATTLES PLC        CTT VX            -599615492.2    3880885246
CATTLES PLC        CZS GR            -599615492.2    3880885246
CATTLES PLC        CTT EU            -599615492.2    3880885246
CATTLES PLC-ADR    CHOXY US          -599615492.2    3880885246
CATTLES PLC-FPR    CTTF LN           -599615492.2    3880885246
CATTLES PLC-FPR    CTTF PZ           -599615492.2    3880885246
CATTLES PLC-NPR    CCTN PZ           -599615492.2    3880885246
CATTLES PLC-NPR    CTTN LN           -599615492.2    3880885246
CATTLES PLC-NPR    2843726Q EO       -599615492.2    3880885246
CATTLES PLC-NPR    CTTN PZ           -599615492.2    3880885246
CATTLES PLC-NPR    CTTN IX           -599615492.2    3880885246
CATTLES PLC-NPR    2843730Q EU       -599615492.2    3880885246
CATTLES PLC-NPR    2843734Q EO       -599615492.2    3880885246
CATTLES PLC-RFD    CTTR LN           -599615492.2    3880885246
CATTLES PLC-RFD    CTTR IX           -599615492.2    3880885246
CATTLES PLC-RFD    CTTR PZ           -599615492.2    3880885246
CB RICHARD ELLIS   1984326Z LN       -15005194.54   101088170.4
CDISCOUNT SA       4690913Z FP       -14710509.37     442569172
CEA INDUS-CIP      CDSEF US          -296450009.3   36203201141
CELAYA EMPARANZA   3642467Z SM       -46370880.14   210371904.6
CELSA MANUFACTUR   2011751Z LN       -364451.9997   509121207.7
CENTAR BANKA D.D   CEBAPHRK EO       -3853841.592   180958181.1
CENTAR BANKA D.D   CEBAPHRK EU       -3853841.592   180958181.1
CENTAR BANKA D.D   CEBAPA CZ         -3853841.592   180958181.1
CENTAR BANKA DD    CEBARHRK EO       -3853841.592   180958181.1
CENTAR BANKA DD    CEBARHRK EU       -3853841.592   180958181.1
CENTAR BANKA DD    CEBARA CZ         -3853841.592   180958181.1
CENTER PARCS EUR   235619Z NA        -6141720.638   682887891.2
CENTRAL EURO DIS   CEDC EU             -319755008    1107515008
CENTRAL EURO DIS   CEDCEUR EO          -319755008    1107515008
CENTRAL EURO DIS   CDC PW              -319755008    1107515008
CENTRAL EURO DIS   CEM GR              -319755008    1107515008
CENTRAL EURO DIS   CEDCQ US            -319755008    1107515008
CENTRAL EURO DIS   CEDC LI             -319755008    1107515008
CENTRAL EURO DIS   CEDC EO             -319755008    1107515008
CENTRAL EURO DIS   CEDCPLN EO          -319755008    1107515008
CENTRAL EURO DIS   CEDCPLN EU          -319755008    1107515008
CENTRAL EURO DIS   CDC PZ              -319755008    1107515008
CENTRAL EURO DIS   CEDCEUR EU          -319755008    1107515008
CENTRAL EURO DIS   CTL LI              -319755008    1107515008
CENTRAL EURO DIS   CEDC US             -319755008    1107515008
CENTRAL EUROPEAN   3276402Z NA       -4838847.523   186866740.9
CENTROSOLAR GR-N   C3ON GR           -16015657.93   146354372.5
CENTROSOLAR GROU   C3O EO            -16015657.93   146354372.5
CENTROSOLAR GROU   C3OAD B3          -16015657.93   146354372.5
CENTROSOLAR GROU   C3OA TH           -16015657.93   146354372.5
CENTROSOLAR GROU   C3OA BQ           -16015657.93   146354372.5
CENTROSOLAR GROU   C3OA GR           -16015657.93   146354372.5
CENTROSOLAR GROU   C3OA TQ           -16015657.93   146354372.5
CENTROSOLAR GROU   C3OAD L3          -16015657.93   146354372.5
CENTROSOLAR GROU   C3OAD S2          -16015657.93   146354372.5
CENTROSOLAR GROU   C3OUSD EO         -16015657.93   146354372.5
CENTROSOLAR GROU   C3O PZ            -16015657.93   146354372.5
CENTROSOLAR GROU   CSOG IX           -16015657.93   146354372.5
CENTROSOLAR GROU   C3O S1            -16015657.93   146354372.5
CENTROSOLAR GROU   C3O EU            -16015657.93   146354372.5
CENTROSOLAR GROU   CEOLF US          -16015657.93   146354372.5
CENTROSOLAR GROU   C3OUSD EU         -16015657.93   146354372.5
CENTROSOLAR GROU   C3O BQ            -16015657.93   146354372.5
CENTROSOLAR GROU   C3O GR            -16015657.93   146354372.5
CENTROSOLAR GROU   C3O TQ            -16015657.93   146354372.5
CENTROSOLAR GROU   C3O TH            -16015657.93   146354372.5
CENTROSOLAR GROU   C3OA QT           -16015657.93   146354372.5
CENTROSOLAR-RTS    3434314Z GR       -16015657.93   146354372.5
CEREP INVESTMENT   3638887Z SM       -70598386.38   288951995.8
CHATZIIOANNOU AV   HATZC GA          -54973436.99   102255716.8
CHATZIIONNOU HLD   HZI GR            -54973436.99   102255716.8
CHELSEA FOOTBALL   1508858Z LN       -849005432.9   522910649.8
CHEMOIL EUROPE B   3898634Z NA          -34470000     425707008
CHERNIGIVS M-GDR   CKU GR               -19979000     106551872
CHERNIGIVS MAN-M   CHIM UZ              -19979000     106551872
CHERNISHEVA        MPCH RM           -235787468.2   695367571.1
CHERNISHEVA        MPCH RU           -235787468.2   695367571.1
CHERNISHEVA        MPCH* RU          -235787468.2   695367571.1
CHRIST WATER TEC   CWT AV            -5754093.459   165990091.1
CHRIST WATER TEC   CWT EO            -5754093.459   165990091.1
CHRIST WATER TEC   CWT PZ            -5754093.459   165990091.1
CHRIST WATER TEC   CRSWF US          -5754093.459   165990091.1
CHRIST WATER TEC   8131204Q GR       -5754093.459   165990091.1
CHRIST WATER TEC   CWT EU            -5754093.459   165990091.1
CHRIST WATER TEC   CWTE IX           -5754093.459   165990091.1
CHRIST WATER-ADR   CRSWY US          -5754093.459   165990091.1
CHRYSALIS GROUP    CHSEUR EU         -16399586.02   124836284.8
CHRYSALIS GROUP    CHS PZ            -16399586.02   124836284.8
CHRYSALIS GROUP    CHS LN            -16399586.02   124836284.8
CHRYSALIS GROUP    CHS PO            -16399586.02   124836284.8
CHRYSALIS GROUP    CYGUF US          -16399586.02   124836284.8
CHRYSALIS GROUP    CHS EO            -16399586.02   124836284.8
CHRYSALIS GROUP    5CY GR            -16399586.02   124836284.8
CHRYSALIS GROUP    CHS EU            -16399586.02   124836284.8
CHRYSALIS GROUP    CHSGBP EO         -16399586.02   124836284.8
CHRYSALIS GROUP    CLYSF US          -16399586.02   124836284.8
CHRYSALIS GROUP    CHS IX            -16399586.02   124836284.8
CHRYSALIS GROUP    CHS VX            -16399586.02   124836284.8
CHRYSALIS GROUP    HR4 GR            -16399586.02   124836284.8
CHRYSALIS GROUP    CHSEUR EO         -16399586.02   124836284.8
CHRYSALIS GROUP    CHSUSD EO         -16399586.02   124836284.8
CHRYSALIS GROUP    CHSUSD EU         -16399586.02   124836284.8
CIA LA GOMERA AS   4401057Z NO       -14188999.71   111542579.2
CIMBER STERLING    CIMBE EU          -5227729.207   192575891.8
CIMBER STERLING    CIMBE EO          -5227729.207   192575891.8
CIMBER STERLING    CIMBER DC         -5227729.207   192575891.8
CIMBER STERLING    CIMBER BY         -5227729.207   192575891.8
CIRIO FINANZIARI   CRO IM            -422095936.7    1583083044
CIRIO FINANZIARI   FIY GR            -422095936.7    1583083044
CITY INN LTD       2196980Z LN       -38681609.96    1015295311
CLARANET GROUP L   4157581Z LN        -5642745.89   165416275.8
CLIFFORD CHANCE    1768609Z LN       -218753378.8   119651502.5
CLIPPER WINDPOWE   3470635Q LN         -168322000     436419008
CLIPPER WINDPOWE   CWPEUR EO           -168322000     436419008
CLIPPER WINDPOWE   CWPEUR EU           -168322000     436419008
CLIPPER WINDPOWE   C2W GR              -168322000     436419008
CLIPPER WINDPOWE   34706EUR EO         -168322000     436419008
CLIPPER WINDPOWE   34706EUR EU         -168322000     436419008
CLIPPER WINDPOWE   CWPA LN             -168322000     436419008
CLIPPER WINDPOWE   CWP EU              -168322000     436419008
CLIPPER WINDPOWE   CWP EO              -168322000     436419008
CLIPPER WINDPOWE   CWP LN              -168322000     436419008
CLIPPER WINDPOWE   CWP PG              -168322000     436419008
CLIPPER WINDPOWE   CWP IX              -168322000     436419008
CLIPPER WINDPOWE   CRPWF US            -168322000     436419008
CLIPPER WINDPOWE   CWP PZ              -168322000     436419008
CLUB CO HOLDINGS   4500035Z LN       -23743697.03   109720737.4
CMA CGM AGENCES    4746849Z FP       -10638831.52   162545865.7
CO DAS ENERGIAS    3794880Z PL       -2542665.906   115837812.1
CO-OPERATIVE PHA   3951852Z LN       -63197952.74     199515766
CODERE SA          CDRE B3             -257000149    2112958022
CODERE SA          CDRE L3             -257000149    2112958022
CODERE SA          CDR EB              -257000149    2112958022
CODERE SA          CDR IX              -257000149    2112958022
CODERE SA          CODEF US            -257000149    2112958022
CODERE SA          CDR EU              -257000149    2112958022
CODERE SA          CDR SM              -257000149    2112958022
CODERE SA          CDR TQ              -257000149    2112958022
CODERE SA          CDR S1              -257000149    2112958022
CODERE SA          CDRUSD EU           -257000149    2112958022
CODERE SA          4CD GR              -257000149    2112958022
CODERE SA          CDRUSD EO           -257000149    2112958022
CODERE SA          CDR EO              -257000149    2112958022
CODERE SA          CDRE S2             -257000149    2112958022
CODERE SA          CDRE PZ             -257000149    2112958022
COGNIS GMBH        575202Z GR        -745013993.7    3306935972
COIN SPA           GUCIF US          -154063920.1   800559778.4
COIN SPA           GC IX             -154063920.1   800559778.4
COIN SPA           965089Q GR        -154063920.1   800559778.4
COIN SPA-RTS       GCAA IM           -154063920.1   800559778.4
COIN SPA/OLD       GC IM             -154063920.1   800559778.4
COLT TELECOM BV    4511515Z NA       -15997403.43   123548994.5
COMMUNICORP GROU   1027859Z ID       -10254069.02   202942157.3
COMPAGNIA ITALIA   CGLUF US          -137731671.1   527392123.8
COMPAGNIA ITALIA   CITU IX           -137731671.1   527392123.8
COMPAGNIA ITALIA   ICT IM            -137731671.1   527392123.8
COMPASS GROU-OLD   1259Q LN          -668101173.9    2972459078
COMPASS GROUP      QOP GR            -668101173.9    2972459078
COMPASS GRP-ADR    CMSGY US          -668101173.9    2972459078
COMPASS GRP-ADR    CMSJY US          -668101173.9    2972459078
CONERGY AG         CGYGBP EO         -123446974.6   312014471.7
CONERGY AG         CGYK TQ           -123446974.6   312014471.7
CONERGY AG         CGYK BQ           -123446974.6   312014471.7
CONERGY AG         CEYHF US          -123446974.6   312014471.7
CONERGY AG         CGYK EU           -123446974.6   312014471.7
CONERGY AG         CGY PZ            -123446974.6   312014471.7
CONERGY AG         CGYKUSD EU        -123446974.6   312014471.7
CONERGY AG         CGY EB            -123446974.6   312014471.7
CONERGY AG         CGY IX            -123446974.6   312014471.7
CONERGY AG         CGY TQ            -123446974.6   312014471.7
CONERGY AG         CGY GR            -123446974.6   312014471.7
CONERGY AG         CGYK EB           -123446974.6   312014471.7
CONERGY AG         CGYK IX           -123446974.6   312014471.7
CONERGY AG         CGYGBX EO         -123446974.6   312014471.7
CONERGY AG         CGYK S1           -123446974.6   312014471.7
CONERGY AG         CGYK QM           -123446974.6   312014471.7
CONERGY AG         CGYKGBP EO        -123446974.6   312014471.7
CONERGY AG         CGY S1            -123446974.6   312014471.7
CONERGY AG         CGYUSD EU         -123446974.6   312014471.7
CONERGY AG         CGYKUSD EO        -123446974.6   312014471.7
CONERGY AG         CGY NQ            -123446974.6   312014471.7
CONERGY AG         CGYUSD EO         -123446974.6   312014471.7
CONERGY AG         CGY EU            -123446974.6   312014471.7
CONERGY AG         CGYK TH           -123446974.6   312014471.7
CONERGY AG         CGYKGBX EO        -123446974.6   312014471.7
CONERGY AG         CGY EO            -123446974.6   312014471.7
CONERGY AG         CGY BQ            -123446974.6   312014471.7
CONERGY AG         CGY TH            -123446974.6   312014471.7
CONERGY AG         CGYK PZ           -123446974.6   312014471.7
CONERGY AG         CGYK EO           -123446974.6   312014471.7
CONERGY AG         CGY QM            -123446974.6   312014471.7
CONERGY AG         CGYK GR           -123446974.6   312014471.7
CONERGY AG -RTS    CGYB GR           -123446974.6   312014471.7
CONERGY AG-ALTAK   CGY2 GR           -123446974.6   312014471.7
CONERGY AG-RTS     9274362Z GR       -123446974.6   312014471.7
CONNECT GROU-RTS   CNCF LN           -69818642.47   499012577.7
CONNECT GROU-RTS   CNCFGBX EU        -69818642.47   499012577.7
CONNECT GROU-RTS   CNCFGBX EO        -69818642.47   499012577.7
CONNECT GROUP PL   CNCTL B3          -69818642.47   499012577.7
CONNECT GROUP PL   CNCT LN           -69818642.47   499012577.7
CONNECT GROUP PL   CNCT PZ           -69818642.47   499012577.7
CONNECT GROUP PL   CNCTGBP EU        -69818642.47   499012577.7
CONNECT GROUP PL   CNCT TQ           -69818642.47   499012577.7
CONNECT GROUP PL   CNCT S1           -69818642.47   499012577.7
CONNECT GROUP PL   NWS S1            -69818642.47   499012577.7
CONNECT GROUP PL   NWS1 BQ           -69818642.47   499012577.7
CONNECT GROUP PL   NWS EB            -69818642.47   499012577.7
CONNECT GROUP PL   CNCTL S2          -69818642.47   499012577.7
CONNECT GROUP PL   NWS2 TQ           -69818642.47   499012577.7
CONNECT GROUP PL   CNCT EB           -69818642.47   499012577.7
CONNECT GROUP PL   CNCTGBP EO        -69818642.47   499012577.7
CONNECT GROUP PL   NWS PO            -69818642.47   499012577.7
CONNECT GROUP PL   CNCTEUR EO        -69818642.47   499012577.7
CONNECT GROUP PL   CNCT1GBP EO       -69818642.47   499012577.7
CONNECT GROUP PL   CNCT IX           -69818642.47   499012577.7
CONNECT GROUP PL   CNCTL L3          -69818642.47   499012577.7
CONNECT GROUP PL   CNCTEUR EU        -69818642.47   499012577.7
CONNECT GROUP PL   CNCT BQ           -69818642.47   499012577.7
CONNECT UTILITIE   2112683Z LN       -8340151.746   137723814.6
CONOCOPHILLIPS I   4526671Z ID       -216839004.8   609834013.3
CONOCOPHILLIPS W   3894318Z ID         -230298000     528524992
CONS NEWEN ENT     CWETF US            -347363008     314752992
CONS NEWEN ENT     CWE/T CN            -347363008     314752992
CONSTELLIUM HOLD   0777811D US       -44770001.41    3644520115
CONSTELLIUM HOLD   0616528D FP       -44770001.41    3644520115
CONSTELLIUM NV-A   CSTMUSD EU        -44770001.41    3644520115
CONSTELLIUM NV-A   CSTMUSD EO        -44770001.41    3644520115
CONSTELLIUM NV-A   CSTMEUR EO        -44770001.41    3644520115
CONSTELLIUM NV-A   CSTMP S2          -44770001.41    3644520115
CONSTELLIUM NV-A   CSTM US           -44770001.41    3644520115
CONSTELLIUM NV-A   CSTMP L3          -44770001.41    3644520115
CONSTELLIUM NV-A   C9O GR            -44770001.41    3644520115
CONSTELLIUM NV-A   CSTMP B3          -44770001.41    3644520115
CONSTELLIUM NV-A   CSTMEUR EU        -44770001.41    3644520115
CONSTELLIUM NV-A   CSTM FP           -44770001.41    3644520115
CONSTELLIUM NV-B   1222203D US       -44770001.41    3644520115
CONTENTFILM INTE   2532058Z LN        -9300904.46   126058510.9
CONVENIENCE FOOD   1555794Z LN       -134874451.3   765640046.7
COOPERATIE VOEDI   4378105Z NA       -142026.7053     639612430
COPERFIL GROUP     704457Z SM        -3700821.321   403822614.4
CORAL ESTATES LT   1077210Z LN       -3811477.291   130784942.2
CORAM INTERNATIO   3819084Z NA       -10476.88259   106710835.6
CORUS TUBES BV     4044829Z NA       -15669781.68   108585334.6
COSMOS SHIPPING    4174421Z NA       -1136567.873     304070874
CP - COMBOIOS DE   1005Z PL           -4195211526    1509194227
CPI MORTARS LTD    1751696Z LN       -30390399.86   115400452.3
CPP GROUP - ADR    CPGPY US          -45713644.72   135877096.4
CPP GROUP PLC      4CVD L3           -45713644.72   135877096.4
CPP GROUP PLC      CPPL L3           -45713644.72   135877096.4
CPP GROUP PLC      CPP LN            -45713644.72   135877096.4
CPP GROUP PLC      4CVD B3           -45713644.72   135877096.4
CPP GROUP PLC      CPPL B3           -45713644.72   135877096.4
CPP GROUP PLC      CPPEUR EU         -45713644.72   135877096.4
CPP GROUP PLC      CPPEUR EO         -45713644.72   135877096.4
CPP GROUP PLC      CPP EB            -45713644.72   135877096.4
CPP GROUP PLC      CPP IX            -45713644.72   135877096.4
CPP GROUP PLC      CPP TQ            -45713644.72   135877096.4
CPP GROUP PLC      CPP PZ            -45713644.72   135877096.4
CPP GROUP PLC      CPP QM            -45713644.72   135877096.4
CPP GROUP PLC      CPP EO            -45713644.72   135877096.4
CPP GROUP PLC      CPP NR            -45713644.72   135877096.4
CPP GROUP PLC      CPP EU            -45713644.72   135877096.4
CPP GROUP PLC      CPPGBP EO         -45713644.72   135877096.4
CPP GROUP PLC      4CV GK            -45713644.72   135877096.4
CPP GROUP PLC      CPP S1            -45713644.72   135877096.4
CPP GROUP PLC      CPP BQ            -45713644.72   135877096.4
CPP GROUP PLC      CPGPF US          -45713644.72   135877096.4
CPP GROUP PLC      4CV GR            -45713644.72   135877096.4
CPP GROUP PLC      CPPL S2           -45713644.72   135877096.4
CPP GROUP PLC      4CVD S2           -45713644.72   135877096.4
CRAEGMOOR LTD      1652880Z LN       -13908471.04   565526373.2
CREDITO FOND-RTS   CRFSA IM          -200209050.3    4213063202
CREDITO FONDIARI   CRF IM            -200209050.3    4213063202
CRESPI SPA         CRE1 IX           -42072998.36   291988991.4
CRESPI SPA         CRE EB            -42072998.36   291988991.4
CRESPI SPA         CRE1 TQ           -42072998.36   291988991.4
CRESPI SPA         CRE1 EO           -42072998.36   291988991.4
CRESPI SPA         CRE IM            -42072998.36   291988991.4
CRESPI SPA         GVCIF US          -42072998.36   291988991.4
CRESPI SPA         CRE BQ            -42072998.36   291988991.4
CRESPI SPA         LG5 GR            -42072998.36   291988991.4
CRESPI SPA         CRE1 PZ           -42072998.36   291988991.4
CRESPI SPA         CRE1 EU           -42072998.36   291988991.4
CSC COMPUTER SCI   3894278Z LN       -153050119.7    2920396956
CUCINA LUX INVES   4503083Z LN       -978222246.1    3210325190
D/S TORM           3424559Q IX         -163995008    1384248960
D/S TORM           TORDF US            -163995008    1384248960
D/S TORM           ADSSF US            -163995008    1384248960
D/S TORM           TORM NR             -163995008    1384248960
DANA PETROLEUM N   ENER NO           -49442800.46   261409223.6
DANIILIDIS PA-RT   DANILR GA         -101793528.3   620604212.3
DANIILIDIS PANAG   DANIL GA          -101793528.3   620604212.3
DANKA BUS SYSTEM   3205283Q EO         -497126976     121439000
DANKA BUS SYSTEM   3205287Q EU         -497126976     121439000
DANKA BUS SYSTEM   DNK VX              -497126976     121439000
DANKA BUS SYSTEM   DNK IX              -497126976     121439000
DANKA BUS SYSTEM   DNK LN              -497126976     121439000
DANKA BUS SYSTEM   DANKF US            -497126976     121439000
DANKA BUS SYSTEM   3205291Q EO         -497126976     121439000
DANKA BUS SYSTEM   DNK PZ              -497126976     121439000
DANKA BUS SYSTEM   DNK PO              -497126976     121439000
DANKA BUS-$US CE   DANKD AR            -497126976     121439000
DANKA BUS-ADR      DB6 GR              -497126976     121439000
DANKA BUS-ADR      AP39 LI             -497126976     121439000
DANKA BUS-ADR      DANKY US            -497126976     121439000
DANKA BUS-ADR      DANKE US            -497126976     121439000
DANKA BUS-BLK CE   DANKB AR            -497126976     121439000
DANKA BUS-C/E CE   DANKC AR            -497126976     121439000
DANKA BUS-CEDEAR   DANK AR             -497126976     121439000
DANNEMORA MI-NEW   DMABBTA1 SS        -44638010.5   159769983.1
DANNEMORA MI-RTS   DMABTRB SS         -44638010.5   159769983.1
DANNEMORA MINE-A   0122312D SS        -44638010.5   159769983.1
DANNEMORA MINERA   DMABB EU           -44638010.5   159769983.1
DANNEMORA MINERA   DMABNOK SS         -44638010.5   159769983.1
DANNEMORA MINERA   DMABBO S2          -44638010.5   159769983.1
DANNEMORA MINERA   DMABB EO           -44638010.5   159769983.1
DANNEMORA MINERA   DMABBNOK EO        -44638010.5   159769983.1
DANNEMORA MINERA   DMABBO B3          -44638010.5   159769983.1
DANNEMORA MINERA   DMAB SS            -44638010.5   159769983.1
DANNEMORA MINERA   DMABB NO           -44638010.5   159769983.1
DANNEMORA MINERA   59P GR             -44638010.5   159769983.1
DANNEMORA MINERA   DMABBO L3          -44638010.5   159769983.1
DANNEMORA MINERA   DMABBNOK EU        -44638010.5   159769983.1
DANNEMORA MINERA   DMABB PZ           -44638010.5   159769983.1
DANNEMORA MINERA   DMABB SS           -44638010.5   159769983.1
DANNEMORA MINERA   DMABBNOK BY        -44638010.5   159769983.1
DANNEMORA MINERA   DMABB BY           -44638010.5   159769983.1
DARTY PLC          KE4 GK            -418911342.6    1563994117
DARTY PLC          DRTY1 IX          -418911342.6    1563994117
DARTY PLC          KESA2 EO          -418911342.6    1563994117
DARTY PLC          DRTY EB           -418911342.6    1563994117
DARTY PLC          KESA4 EO          -418911342.6    1563994117
DARTY PLC          DRTY EU           -418911342.6    1563994117
DARTY PLC          KESAF US          -418911342.6    1563994117
DARTY PLC          KESA TQ           -418911342.6    1563994117
DARTY PLC          DRTY IX           -418911342.6    1563994117
DARTY PLC          DRTYEUR EU        -418911342.6    1563994117
DARTY PLC          DRTYL B3          -418911342.6    1563994117
DARTY PLC          DRTYI GR          -418911342.6    1563994117
DARTY PLC          KESA9 EO          -418911342.6    1563994117
DARTY PLC          KESA5 EO          -418911342.6    1563994117
DARTY PLC          KESA3 EO          -418911342.6    1563994117
DARTY PLC          DRTYP L3          -418911342.6    1563994117
DARTY PLC          KSA FP            -418911342.6    1563994117
DARTY PLC          KESA NR           -418911342.6    1563994117
DARTY PLC          DRTY QM           -418911342.6    1563994117
DARTY PLC          KESA QM           -418911342.6    1563994117
DARTY PLC          DRTYUSD EO        -418911342.6    1563994117
DARTY PLC          KESA EB           -418911342.6    1563994117
DARTY PLC          KESA8 EO          -418911342.6    1563994117
DARTY PLC          DRTY1 EB          -418911342.6    1563994117
DARTY PLC          DRTY TQ           -418911342.6    1563994117
DARTY PLC          KESA6 EO          -418911342.6    1563994117
DARTY PLC          KESAFN B3         -418911342.6    1563994117
DARTY PLC          KESA BQ           -418911342.6    1563994117
DARTY PLC          DRTYP B3          -418911342.6    1563994117
DARTY PLC          DRTYL S2          -418911342.6    1563994117
DARTY PLC          KESAFN L3         -418911342.6    1563994117
DARTY PLC          DRTY FP           -418911342.6    1563994117
DARTY PLC          KESA EO           -418911342.6    1563994117
DARTY PLC          DRTYUSD EU        -418911342.6    1563994117
DARTY PLC          DRTY1 TQ          -418911342.6    1563994117
DARTY PLC          DRTYEUR EO        -418911342.6    1563994117
DARTY PLC          DRTYL L3          -418911342.6    1563994117
DARTY PLC          DRTYGBP EO        -418911342.6    1563994117
DARTY PLC          DRTYP S2          -418911342.6    1563994117
DARTY PLC          KESA IX           -418911342.6    1563994117
DARTY PLC          KESA NQ           -418911342.6    1563994117
DARTY PLC          KE4 GR            -418911342.6    1563994117
DARTY PLC          DRTY EO           -418911342.6    1563994117
DARTY PLC          KES1 EO           -418911342.6    1563994117
DARTY PLC          KESA S1           -418911342.6    1563994117
DARTY PLC          KESA7 EO          -418911342.6    1563994117
DARTY PLC          DRTY LN           -418911342.6    1563994117
DARTY PLC          KESA PO           -418911342.6    1563994117
DAVENHAM GROUP P   DAV PG            -57318753.57   114702989.3
DAVENHAM GROUP P   DAV EO            -57318753.57   114702989.3
DAVENHAM GROUP P   DAH TH            -57318753.57   114702989.3
DAVENHAM GROUP P   DAVEUR EU         -57318753.57   114702989.3
DAVENHAM GROUP P   DAV PZ            -57318753.57   114702989.3
DAVENHAM GROUP P   DAH GR            -57318753.57   114702989.3
DAVENHAM GROUP P   DAV EU            -57318753.57   114702989.3
DAVENHAM GROUP P   DAVEUR EO         -57318753.57   114702989.3
DAVENHAM GROUP P   DAV LN            -57318753.57   114702989.3
DE LA RUE PLC      DLAR IX           -191504970.4   754649781.4
DE LA RUE PLC      DLAR QX           -191504970.4   754649781.4
DE LA RUE PLC      DLARL S2          -191504970.4   754649781.4
DE LA RUE PLC      DLAR3 EO          -191504970.4   754649781.4
DE LA RUE PLC      DLAR7 EO          -191504970.4   754649781.4
DE LA RUE PLC      DLA EO            -191504970.4   754649781.4
DE LA RUE PLC      DLAR4 EO          -191504970.4   754649781.4
DE LA RUE PLC      DLAR EO           -191504970.4   754649781.4
DE LA RUE PLC      DLAR NR           -191504970.4   754649781.4
DE LA RUE PLC      DLAR1 EO          -191504970.4   754649781.4
DE LA RUE PLC      DLAR PZ           -191504970.4   754649781.4
DE LA RUE PLC      DLAREUR EU        -191504970.4   754649781.4
DE LA RUE PLC      DLARCHF EU        -191504970.4   754649781.4
DE LA RUE PLC      DLAR VX           -191504970.4   754649781.4
DE LA RUE PLC      DL1B GR           -191504970.4   754649781.4
DE LA RUE PLC      DLARF US          -191504970.4   754649781.4
DE LA RUE PLC      DLAR LN           -191504970.4   754649781.4
DE LA RUE PLC      DLAR2 EO          -191504970.4   754649781.4
DE LA RUE PLC      DLAR5 EO          -191504970.4   754649781.4
DE LA RUE PLC      DLAR6 EO          -191504970.4   754649781.4
DE LA RUE PLC      DLAR PO           -191504970.4   754649781.4
DE LA RUE PLC      DLARUSD EO        -191504970.4   754649781.4
DE LA RUE PLC      DL1C GR           -191504970.4   754649781.4
DE LA RUE PLC      DLAR QM           -191504970.4   754649781.4
DE LA RUE PLC      DLARUSD EU        -191504970.4   754649781.4
DE LA RUE PLC      DL1 GR            -191504970.4   754649781.4
DE LA RUE PLC      DELRF US          -191504970.4   754649781.4
DE LA RUE PLC      DL1C GK           -191504970.4   754649781.4
DE LA RUE PLC      DLAR S1           -191504970.4   754649781.4
DE LA RUE PLC      DLAR TQ           -191504970.4   754649781.4
DE LA RUE PLC      DLARCHF EO        -191504970.4   754649781.4
DE LA RUE PLC      DLAR BQ           -191504970.4   754649781.4
DE LA RUE PLC      DLARL B3          -191504970.4   754649781.4
DE LA RUE PLC      DL1A GR           -191504970.4   754649781.4
DE LA RUE PLC      DLAR EB           -191504970.4   754649781.4
DE LA RUE PLC      DLAR NQ           -191504970.4   754649781.4
DE LA RUE PLC      DLAR EU           -191504970.4   754649781.4
DE LA RUE PLC      DLAR8 EO          -191504970.4   754649781.4
DE LA RUE PLC      DLARL L3          -191504970.4   754649781.4
DE LA RUE PLC      DLRUF US          -191504970.4   754649781.4
DE LA RUE PLC      DLARGBP EO        -191504970.4   754649781.4
DE LA RUE PLC      DLAREUR EO        -191504970.4   754649781.4
DE LA RUE PLC      DLAR9 EO          -191504970.4   754649781.4
DE LA RUE-ADR      DLUEY US          -191504970.4   754649781.4
DE LA RUE-ADR      DERUY US          -191504970.4   754649781.4
DE LA RUE-PREF     DLAP PZ           -191504970.4   754649781.4
DE LA RUE-PREF     DLAP LN           -191504970.4   754649781.4
DE LA RUE-PREF     3115438Q EU       -191504970.4   754649781.4
DE STEFANO INVES   3814768Z LN        -1732230.02     173800412
DESMET BALLESTRA   2850262Z BB       -53278497.25   285006991.6
DEVELICA DEUTSCH   DDE PG            -79827494.88    1139643575
DEVELICA DEUTSCH   DDE LN            -79827494.88    1139643575
DEVELICA DEUTSCH   DDE PZ            -79827494.88    1139643575
DEVELICA DEUTSCH   D4B GR            -79827494.88    1139643575
DEVELICA DEUTSCH   DDE IX            -79827494.88    1139643575
DF DEUTSCHE FORF   DE6 EU            -1623242.145   115119022.6
DF DEUTSCHE FORF   DE6D L3           -1623242.145   115119022.6
DF DEUTSCHE FORF   DE6 S1            -1623242.145   115119022.6
DF DEUTSCHE FORF   DE6 EO            -1623242.145   115119022.6
DF DEUTSCHE FORF   DE6D B3           -1623242.145   115119022.6
DF DEUTSCHE FORF   DE6D S2           -1623242.145   115119022.6
DF DEUTSCHE FORF   DE6 TH            -1623242.145   115119022.6
DF DEUTSCHE FORF   DE6 QT            -1623242.145   115119022.6
DF DEUTSCHE FORF   DE6 TQ            -1623242.145   115119022.6
DF DEUTSCHE FORF   DE6G IX           -1623242.145   115119022.6
DF DEUTSCHE FORF   DE6 PZ            -1623242.145   115119022.6
DF DEUTSCHE FORF   DE6 GR            -1623242.145   115119022.6
DFS FURNITURE      DF0 GR            -125918322.6    1112727423
DFS FURNITURE      DFSGBX EO         -125918322.6    1112727423
DFS FURNITURE      DFSGBX EU         -125918322.6    1112727423
DFS FURNITURE      DFS LN            -125918322.6    1112727423
DFS FURNITURE      DFSL TQ           -125918322.6    1112727423
DFS FURNITURE      DFSL EB           -125918322.6    1112727423
DFS FURNITURE      DFSL IX           -125918322.6    1112727423
DFS FURNITURE LT   1236466D LN       -125918322.6    1112727423
DIAMOND RESORT H   1710824Z LN       -59240015.95   230240894.2
DIAS AQUA-R REPO   DIFFV11 GA        -122191812.7   122791821.7
DIAS AQUACU-REPO   DIFFL11 GA        -122191812.7   122791821.7
DIAS AQUACULTURE   DIFF EU           -122191812.7   122791821.7
DIAS AQUACULTURE   DIFF GA           -122191812.7   122791821.7
DIAS AQUACULTURE   DIFFY B3          -122191812.7   122791821.7
DIAS AQUACULTURE   DIFFY S2          -122191812.7   122791821.7
DIAS AQUACULTURE   DIFFY L3          -122191812.7   122791821.7
DIAS AQUACULTURE   DIFF PZ           -122191812.7   122791821.7
DIAS AQUACULTURE   DIFF EO           -122191812.7   122791821.7
DIBAQ DIPROTEG     937530Z SM        -6314112.019   147817872.4
DIGNITY PLC        DTYL S1           -143874501.3   936661888.4
DIGNITY PLC        DTY VX            -143874501.3   936661888.4
DIGNITY PLC        DTY9 EO           -143874501.3   936661888.4
DIGNITY PLC        DTY NR            -143874501.3   936661888.4
DIGNITY PLC        DTY1 EO           -143874501.3   936661888.4
DIGNITY PLC        DTYEUR EU         -143874501.3   936661888.4
DIGNITY PLC        DTYL S2           -143874501.3   936661888.4
DIGNITY PLC        DTY10 EO          -143874501.3   936661888.4
DIGNITY PLC        DTY PZ            -143874501.3   936661888.4
DIGNITY PLC        DTYL L3           -143874501.3   936661888.4
DIGNITY PLC        DTY5 EO           -143874501.3   936661888.4
DIGNITY PLC        DTYEUR EO         -143874501.3   936661888.4
DIGNITY PLC        DTY QM            -143874501.3   936661888.4
DIGNITY PLC        DN8A GK           -143874501.3   936661888.4
DIGNITY PLC        DTY8 EO           -143874501.3   936661888.4
DIGNITY PLC        DTY6 EO           -143874501.3   936661888.4
DIGNITY PLC        DTY EB            -143874501.3   936661888.4
DIGNITY PLC        DTYGBP EO         -143874501.3   936661888.4
DIGNITY PLC        DTY EU            -143874501.3   936661888.4
DIGNITY PLC        DN8B GR           -143874501.3   936661888.4
DIGNITY PLC        DTY NQ            -143874501.3   936661888.4
DIGNITY PLC        DN8 GR            -143874501.3   936661888.4
DIGNITY PLC        DTYUSD EU         -143874501.3   936661888.4
DIGNITY PLC        DTYL B3           -143874501.3   936661888.4
DIGNITY PLC        DTY3 EO           -143874501.3   936661888.4
DIGNITY PLC        DGNYF US          -143874501.3   936661888.4
DIGNITY PLC        DN8E GR           -143874501.3   936661888.4
DIGNITY PLC        DN8D GR           -143874501.3   936661888.4
DIGNITY PLC        DTY S1            -143874501.3   936661888.4
DIGNITY PLC        DTY IX            -143874501.3   936661888.4
DIGNITY PLC        DTY LN            -143874501.3   936661888.4
DIGNITY PLC        DTY7 EO           -143874501.3   936661888.4
DIGNITY PLC        DTY PO            -143874501.3   936661888.4
DIGNITY PLC        DTY TQ            -143874501.3   936661888.4
DIGNITY PLC        DTY BQ            -143874501.3   936661888.4
DIGNITY PLC        DTY EO            -143874501.3   936661888.4
DIGNITY PLC        DTY2 EO           -143874501.3   936661888.4
DIGNITY PLC        DTYUSD EO         -143874501.3   936661888.4
DIGNITY PLC        DTY4 EO           -143874501.3   936661888.4
DIGNITY PLC        DN8A GR           -143874501.3   936661888.4
DIGNITY-UNSP ADR   DGNTY US          -143874501.3   936661888.4
DIMA COSTRUZIONI   4526911Z IM        -14681477.1   426157772.4
DIMAFIN SPA        2727163Z IM       -63237310.55   270853808.6
DIOKI DD           DIOKRHRK EU       -38207781.04   346383251.3
DIOKI DD           DIOKRA CZ         -38207781.04   346383251.3
DIOKI DD           DIOKRHRK EO       -38207781.04   346383251.3
DISENOS URBANOS    4367969Z SM       -2536463.405   337554175.8
DLJ UK HOLDING     1774497Z LN         -105638000    4363095040
DNEPROPETROVSK     DMZP UZ             -135620115   517236634.7
DNIPROVSKY IRON    DMKD UZ             -377295526    1251619779
DONCASTERS GROUP   996146Z LN        -432538259.6    1612203119
DOUX SA            3102738Z FP       -158236168.9   870523700.3
DRIVE ASSIST HOL   3641135Z LN       -526668613.4   370637648.1
DTZ DEBENHAM TIE   1637608Z LN       -127198668.5   136733329.8
DUFERCO LA LOUVI   4169149Z BB       -102578634.2   322222513.5
DYNAMOBEL          828524Z SM        -6654013.893   118562072.6
EAST LONDON BUS    4453289Z LN       -25646993.29   493649937.7
EAST-SIBERIA-BRD   VSNK RU           -92283731.58   299863617.2
EAST-SIBERIA-BRD   VSNK* RU          -92283731.58   299863617.2
EAST-SIBERIAN-BD   VSNK$ RU          -92283731.58   299863617.2
EASYDIS SAS        4470559Z FP       -7560619.382   256995570.2
EASYNET GROUP      ESY PO            -13323427.13   573001458.7
EASYNET GROUP      EZNGF US          -13323427.13   573001458.7
EASYNET GROUP      EAY GR            -13323427.13   573001458.7
EASYNET GROUP      ESY VX            -13323427.13   573001458.7
EASYNET GROUP-CV   91009Z LN         -13323427.13   573001458.7
EATON ELECTRIC B   2017671Z NA       -1841796.041     130595897
EATON ELECTRIC L   2342667Z LN       -54667.79995   196611914.2
ECONOMIST NEWSPA   6888Z LN           -17266078.7   388318853.7
ECS COMPUTER SYS   ECS FP            -109890400.7   681800759.1
EDENRED            EDEN QM            -1597200050    4990040157
EDENRED            EDEN S1            -1597200050    4990040157
EDENRED            EDENP S2           -1597200050    4990040157
EDENRED            EDEN EO            -1597200050    4990040157
EDENRED            EDNMF US           -1597200050    4990040157
EDENRED            EDEN IX            -1597200050    4990040157
EDENRED            EDENP B3           -1597200050    4990040157
EDENRED            EDEN EU            -1597200050    4990040157
EDENRED            EDEN EB            -1597200050    4990040157
EDENRED            EDENUSD EU         -1597200050    4990040157
EDENRED            QSV GR             -1597200050    4990040157
EDENRED            EDEN PZ            -1597200050    4990040157
EDENRED            EDEN QX            -1597200050    4990040157
EDENRED            QSV QT             -1597200050    4990040157
EDENRED            EDEN TQ            -1597200050    4990040157
EDENRED            EDEN FP            -1597200050    4990040157
EDENRED            QSV TH             -1597200050    4990040157
EDENRED            EDENP L3           -1597200050    4990040157
EDENRED            EDEN BQ            -1597200050    4990040157
EDENRED            EDEN LI            -1597200050    4990040157
EDENRED            EDENUSD EO         -1597200050    4990040157
EDENRED - NEW      EDENV EU           -1597200050    4990040157
EDENRED - NEW      EDENVEUR EO        -1597200050    4990040157
EDENRED - NEW      EDENV FP           -1597200050    4990040157
EDENRED - NEW      0931985D FP        -1597200050    4990040157
EDENRED - NEW      09317EUR EU        -1597200050    4990040157
EDENRED - NEW      09317EUR EO        -1597200050    4990040157
EDENRED SA-ADR     EDNMY US           -1597200050    4990040157
EDENRED-NEW        0931986D FP        -1597200050    4990040157
EDENRED-NEW        0675161D FP        -1597200050    4990040157
EDF EN OUTRE MER   4679713Z FP       -10380130.59     110553300
EDRASIS C. PSALL   EDRAR GA          -114527235.1   168611130.1
EDRASIS PSALIDAS   EDRA GA           -114527235.1   168611130.1
EDRASIS PSALIDAS   EPP GR            -114527235.1   168611130.1
EDRASIS PSALIDAS   EDRA PZ           -114527235.1   168611130.1
EDRASIS PSALIDAS   EDRA EO           -114527235.1   168611130.1
EDRASIS PSALIDAS   EDRA EU           -114527235.1   168611130.1
EDRASIS-AUCTION    EDRAE GA          -114527235.1   168611130.1
EIRCOM LTD         EIRCF US          -641146517.4    2926124913
EIRCOM LTD         378739Q VX        -641146517.4    2926124913
EIRCOM LTD         91174Q GR         -641146517.4    2926124913
EIRCOM LTD OLD     EIR ID            -641146517.4    2926124913
EIRCOM LTD-ADR     3327279Q US       -641146517.4    2926124913
EIRCOM LTD/OLD     314787Q LN        -641146517.4    2926124913
EITZEN CHEMI-ADR   EITZY US            -295420992     742657024
EITZEN CHEMICAL    ECHEM NO            -295420992     742657024
EITZEN CHEMICAL    ECHEMO L3           -295420992     742657024
EITZEN CHEMICAL    ECHEM EO            -295420992     742657024
EITZEN CHEMICAL    ECHEMO S2           -295420992     742657024
EITZEN CHEMICAL    ECHEM EU            -295420992     742657024
EITZEN CHEMICAL    ECHM IX             -295420992     742657024
EITZEN CHEMICAL    ECHEM SS            -295420992     742657024
EITZEN CHEMICAL    ECHEMEUR EU         -295420992     742657024
EITZEN CHEMICAL    1235289D NO         -295420992     742657024
EITZEN CHEMICAL    E8H GR              -295420992     742657024
EITZEN CHEMICAL    ECHEMO B3           -295420992     742657024
EITZEN CHEMICAL    ECHEM TQ            -295420992     742657024
EITZEN CHEMICAL    ECHEM BY            -295420992     742657024
EITZEN CHEMICAL    ECHEM PZ            -295420992     742657024
EITZEN CHEMICAL    ECHEMEUR EO         -295420992     742657024
EITZEN CHEMICAL    CHEM NO             -295420992     742657024
EITZEN CHEMICAL    EITZF US            -295420992     742657024
ELECTRABEL CUSTO   4469455Z AV       -24033524.65    3127573353
ELECTRAWINDS S-B   0699494D GR       -99949570.21   504294062.4
ELECTRAWINDS SE    EWID S2           -99949570.21   504294062.4
ELECTRAWINDS SE    EWID B3           -99949570.21   504294062.4
ELECTRAWINDS SE    EWI GR            -99949570.21   504294062.4
ELECTRAWINDS SE    EWID L3           -99949570.21   504294062.4
ELECTRAWINDS SE    ECT2 EU           -99949570.21   504294062.4
ELECTRAWINDS SE    EPNTF US          -99949570.21   504294062.4
ELECTRAWINDS SE    ECT2 EO           -99949570.21   504294062.4
ELITE HOTELS ROT   3818480Z LN       -14885480.51     169830462
ELITE SHIPPING     ELSP DC           -27715992.18   100892901.9
ELLERSTON GEMS O   4781417Z ID        -4056745.81   195867216.9
EM.TV & MERC-NEW   ETV1 NM           -22067243.56   849175624.7
EM.TV & MERC-NEW   ETV1 GR           -22067243.56   849175624.7
EM.TV & MERC-RTS   ETV8 GR           -22067243.56   849175624.7
EM.TV & MERC-RTS   ETV8 NM           -22067243.56   849175624.7
EM.TV & MERCHAND   EMTVF US          -22067243.56   849175624.7
EM.TV & MERCHAND   ETV NM            -22067243.56   849175624.7
EM.TV & MERCHAND   ETV VX            -22067243.56   849175624.7
EM.TV & MERCHAND   985403Q GR        -22067243.56   849175624.7
EM.TV & MERCHAND   ETV LN            -22067243.56   849175624.7
EM.TV & MERCHAND   0881480D US       -22067243.56   849175624.7
EMCOR GROUP UK P   376717Z LN        -6538600.194     173540446
EMI GROUP -ASSD    EMIA LN            -2265973885    2950096964
EMI GROUP LTD      EMI LN             -2265973885    2950096964
EMI GROUP PLC      EMI IX             -2265973885    2950096964
EMI GROUP PLC      EMI PO             -2265973885    2950096964
EMI GROUP PLC      3020138Q GR        -2265973885    2950096964
EMI GROUP PLC      EMI VX             -2265973885    2950096964
EMI GROUP PLC      EMIPF US           -2265973885    2950096964
EMI GROUP PLC-B    1019425Q LN        -2265973885    2950096964
EMI GROUP-ADR      EMI$ LN            -2265973885    2950096964
EMI GROUP-ADR      38IS LN            -2265973885    2950096964
EMI GROUP-ADR      EMIPY US           -2265973885    2950096964
EMPEDOS SA         EMPEDEUR EU       -33637669.62   174742646.9
EMPEDOS SA         EMPEDEUR EO       -33637669.62   174742646.9
EMPEDOS SA         EMPED GA          -33637669.62   174742646.9
EMPEDOS SA-RTS     EMPEDR GA         -33637669.62   174742646.9
EMPRESA DE DESEN   3635623Z PL       -474057586.2   908088594.2
ENER PETROLEUM A   ENEPF US          -49442800.46   261409223.6
ENERGY POWER RES   510443Z LN        -33955843.59   146607640.8
EQUANT NV          815090Q GR        -161280537.3   766114863.8
EQUANT NV          EQT LN            -161280537.3   766114863.8
EQUANT NV          178235Z FP        -161280537.3   766114863.8
EQUANT NV          ENTTF US          -161280537.3   766114863.8
EQUANT NV          EQATF US          -161280537.3   766114863.8
EQUANT NV          EQU FP            -161280537.3   766114863.8
EQUANT NV          EQU VX            -161280537.3   766114863.8
EQUANT NV-EX DIS   ENT-W US          -161280537.3   766114863.8
EQUANT NV-NY SHR   688153Q US        -161280537.3   766114863.8
EQUANT NV-NY SHR   EQUR GR           -161280537.3   766114863.8
EQUITY INSURANCE   1675200Z LN       -111525678.8   387274841.6
ERM GROUP HOLDIN   3125976Z LN         -175924992     616248000
ESTALEIROS NAVAI   4507307Z PL         -182902840     188576452
ETEM -RTS          ETEMR GA           -7598573.75   160361172.3
ETEM-LIGHT METAL   ETEM GA            -7598573.75   160361172.3
ETEM-LIGHT METAL   ETEM PZ            -7598573.75   160361172.3
ETEM-LIGHT METAL   ETEM EO            -7598573.75   160361172.3
ETEM-LIGHT METAL   ETEM EU            -7598573.75   160361172.3
ETHEL AUSTIN INV   1089202Z LN       -38259689.04   225745160.1
ETHICAL HLDG-ADR   ETHCY US             -88448000     171107008
EUPHONY HOLDINGS   4449041Z LN       -22471921.86   112865190.8
EURCO FINANCE      3799980Z ID       -48644964.48   679151283.8
EURO -RTS TBA      1234161D FP         -250559359    2728116488
EURO DISNEY SCA    EDLB BB             -250559359    2728116488
EURO DISNEY SCA    EDIS CN             -250559359    2728116488
EURO DISNEY SCA    EUDI LI             -250559359    2728116488
EURO DISNEY SCA    EDIS BB             -250559359    2728116488
EURO DISNEY SCA    1234160D FP         -250559359    2728116488
EURO DISNEY SCA    1234159D FP         -250559359    2728116488
EURO DISNEY-ADR    1800P US            -250559359    2728116488
EURO DISNEY-NEW    EDLN FP             -250559359    2728116488
EURO DISNEY-NONR   ERDBF US            -250559359    2728116488
EURO DISNEY-NONR   3663498Q PZ         -250559359    2728116488
EURO DISNEY-NONR   EDIG IX             -250559359    2728116488
EURO DISNEY-NONR   EDLY IX             -250559359    2728116488
EURO DISNEY-NONR   2862682Q EO         -250559359    2728116488
EURO DISNEY-NONR   2862678Q EU         -250559359    2728116488
EURO DISNEY-NONR   EDLNR FP            -250559359    2728116488
EURO DISNEY-NONR   EDI GR              -250559359    2728116488
EURO DISNEY-NP     EUDN LN             -250559359    2728116488
EURO DISNEY-OLD    EURD BB             -250559359    2728116488
EURO DISNEY-RCPT   EUD LN              -250559359    2728116488
EURO DISNEY-RCPT   ERDDF US            -250559359    2728116488
EURO DISNEY-RCPT   EUD VX              -250559359    2728116488
EURO DISNEY-RCPT   EUD PO              -250559359    2728116488
EURO DISNEY-REGR   EDL FP              -250559359    2728116488
EURO DISNEY-REGR   EDLP IX             -250559359    2728116488
EURO DISNEY-REGR   EDL EU              -250559359    2728116488
EURO DISNEY-REGR   EDL BQ              -250559359    2728116488
EURO DISNEY-REGR   EDLP L3             -250559359    2728116488
EURO DISNEY-REGR   EDL EB              -250559359    2728116488
EURO DISNEY-REGR   EDLP PZ             -250559359    2728116488
EURO DISNEY-REGR   EDIA TH             -250559359    2728116488
EURO DISNEY-REGR   EDLP B3             -250559359    2728116488
EURO DISNEY-REGR   EDL1 TH             -250559359    2728116488
EURO DISNEY-REGR   EDL TQ              -250559359    2728116488
EURO DISNEY-REGR   EDL S1              -250559359    2728116488
EURO DISNEY-REGR   EDL IX              -250559359    2728116488
EURO DISNEY-REGR   EDL EO              -250559359    2728116488
EURO DISNEY-REGR   EUDSF US            -250559359    2728116488
EURO DISNEY-REGR   EDL QM              -250559359    2728116488
EURO DISNEY-REGR   EDIA GR             -250559359    2728116488
EURO DISNEY-REGR   EDLP S2             -250559359    2728116488
EURO DISNEY-RGT    EDI1 GR             -250559359    2728116488
EURO DISNEY-RGT    1229818D FP         -250559359    2728116488
EURO DISNEY-RTS    EDLDSP EB           -250559359    2728116488
EURO DISNEY-RTS    EDISS5 BB           -250559359    2728116488
EURO DISNEY-RTS    EDLDS FP            -250559359    2728116488
EURO DISNEY-RTS    EDLDSEUR EU         -250559359    2728116488
EURO DISNEY-RTS    ERDYF US            -250559359    2728116488
EURO DISNEY-RTS    2761245Q FP         -250559359    2728116488
EURO DISNEY-RTS    EDLDSP IX           -250559359    2728116488
EURO DISNEY-RTS    EDLDSP TQ           -250559359    2728116488
EURO DISNEY-RTS    EDLDSEUR EO         -250559359    2728116488
EUROCOMMERCE HOL   4174085Z NA       -1476.300001    1442043983
EURODEP            4680905Z FP       -20980092.52   199599003.5
EUROMEDICA         EUMED GA          -168132402.1   707983030.3
EUROMEDICA SA      DNX GR            -101793528.3   620604212.3
EUROMEDICA SA      EUROM EU          -101793528.3   620604212.3
EUROMEDICA SA      EUROM PZ          -101793528.3   620604212.3
EUROMEDICA SA      EUMDF US          -168132402.1   707983030.3
EUROMEDICA SA      EUROM GA          -101793528.3   620604212.3
EUROMEDICA SA      DNXA GR           -101793528.3   620604212.3
EUROMEDICA SA      EUROMY L3         -101793528.3   620604212.3
EUROMEDICA SA      EUROMY B3         -101793528.3   620604212.3
EUROMEDICA SA      EUROMY S2         -101793528.3   620604212.3
EUROMEDICA SA      EUROM EO          -101793528.3   620604212.3
EUROPEAN HOME      EHR4 EO           -14328734.27   110864074.5
EUROPEAN HOME      EHR PO            -14328734.27   110864074.5
EUROPEAN HOME      EHREUR EO         -14328734.27   110864074.5
EUROPEAN HOME      EHR7 EO           -14328734.27   110864074.5
EUROPEAN HOME      FPAKF US          -14328734.27   110864074.5
EUROPEAN HOME      EHR1 EO           -14328734.27   110864074.5
EUROPEAN HOME      EHR PZ            -14328734.27   110864074.5
EUROPEAN HOME      EHR8 EO           -14328734.27   110864074.5
EUROPEAN HOME      EHR EU            -14328734.27   110864074.5
EUROPEAN HOME      EHR VX            -14328734.27   110864074.5
EUROPEAN HOME      KLZ VX            -14328734.27   110864074.5
EUROPEAN HOME      EHR LN            -14328734.27   110864074.5
EUROPEAN HOME      EHR EO            -14328734.27   110864074.5
EUROPEAN HOME      EHRGBP EO         -14328734.27   110864074.5
EUROPEAN HOME      EHR6 EO           -14328734.27   110864074.5
EUROPEAN HOME      EHREUR EU         -14328734.27   110864074.5
EUROPEAN HOME      EHR5 EO           -14328734.27   110864074.5
EUROPEAN HOME      EHR10 EO          -14328734.27   110864074.5
EUROPEAN HOME      KLZ PO            -14328734.27   110864074.5
EUROPEAN HOME      EHR2 EO           -14328734.27   110864074.5
EUROPEAN HOME      EHR9 EO           -14328734.27   110864074.5
EUROPEAN HOME      EHR3 EO           -14328734.27   110864074.5
EUROPEAN MARITIM   4523543Z NA       -34804363.97   347312502.4
EXPERT NORGE AS    4444681Z NO       -7915470.255     138176736
EXPLORER NV        4289181Z BB       -38833909.74   237288467.6
EXXONMOBIL MARIN   1196527Z LN       -12472541.39   165900206.8
FACEO FM           4690137Z FP       -1109089.079   243429434.2
FACONNABLE SA      226782Z FP        -135489494.6   114660790.1
FAR EASTERN GENE   DVGC RU           -287701852.5    1300213857
FAR EASTERN-GDR    317864Z LX            -1000000    1286000000
FAREPAK PLC        FPK LN            -14328734.27   110864074.5
FAT FACE GROUP L   8249218Z LN       -15588250.47   338887017.5
FBEX PROMO INMOB   3745024Z SM       -820030.3857    1142978438
FENERBAHCE         FEBHF US          -145873996.4     151220524
FENERBAHCE FUTBO   FENER TI          -145873996.4     151220524
FERDINAND STINGE   4040837Z NA       -197824.2002    1420305383
FERGO AISA -RTS    AISA/D SM         -102379482.8   427577243.8
FERGO AISA SA      AISA SM           -102379482.8   427577243.8
FERGO AISA SA      AISA PZ           -102379482.8   427577243.8
FERGO AISA SA      AISA TQ           -102379482.8   427577243.8
FERGO AISA SA      AISA EO           -102379482.8   427577243.8
FERGO AISA SA      AISA EU           -102379482.8   427577243.8
FESCO              FESKF US              -1000000    1286000000
FESCO              FESH$ RU              -1000000    1286000000
FESCO-CLS          FESH* RU              -1000000    1286000000
FESCO-CLS          FESHG RU              -1000000    1286000000
FESCO-CLS          FESH RU               -1000000    1286000000
FESCO-CLS          FESH RM               -1000000    1286000000
FESCO-RDC          FESHRDC BH            -1000000    1286000000
FESCO-RDC 144A     FESHA LX              -1000000    1286000000
FESCO-RDC REG S    FESHR LX              -1000000    1286000000
FINAN ST FIACRE    STFI FP           -1274873.644   111191494.1
FINANCIAL LEASIN   FLKO RU           -223005888.9   203003201.1
FINANCIAL LEASIN   FLKO RM           -223005888.9   203003201.1
FINANCIAL LEASIN   137282Z RU        -223005888.9   203003201.1
FINANCIAL LEASIN   FLKO* RU          -223005888.9   203003201.1
FINANCIAL SERVIC   2630281Z LN       -105700509.6   414966448.4
FINANCIETOREN NV   3729210Z BB       -79646965.76   731800789.5
FINANSIERINGSSEL   3977156Z DC       -2410330.413   110737438.4
FINMATICA SPA      FIN NM            -126386016.2   281256000.7
FINMATICA SPA      FIN IM            -126386016.2   281256000.7
FINMATICA SPA      FMTAF US          -126386016.2   281256000.7
FINMATICA SPA      0882440D GR       -126386016.2   281256000.7
FIRST CHOICE HOL   1098394Z LN       -599861682.6   608849393.2
FIRST HYDRO HOLD   3640695Z LN       -138234986.9   787284226.6
FIRST MILK CHEES   2747070Z LN       -2831489.514   219885072.7
FLAMEL TECH-ADR    FLML US               -9512000     116252000
FLAMEL TECH-ADR    FL3 GR                -9512000     116252000
FLAMEL TECH-ADR    FLMLY US              -9512000     116252000
FLAMEL TECH-ADR+   FLML ES               -9512000     116252000
FLAMEL TECHNOLOG   223386Z FP            -9512000     116252000
FLECTAT LTD        1160967Z LN       -46022004.56    2832302323
FLOWTECH FLUIDPO   FLOL L3           -21847240.78   106259293.7
FLOWTECH FLUIDPO   FLO LN            -21847240.78   106259293.7
FLOWTECH FLUIDPO   FLOGBX EO         -21847240.78   106259293.7
FLOWTECH FLUIDPO   FLOGBX EU         -21847240.78   106259293.7
FLOWTECH FLUIDPO   0984685D LN       -21847240.78   106259293.7
FLOWTECH FLUIDPO   FLOL S2           -21847240.78   106259293.7
FLOWTECH FLUIDPO   FLOL B3           -21847240.78   106259293.7
FLOWTECH LTD       499847Z LN        -21615316.78   106259293.7
FNAC PARIS SA      4517559Z FP       -17638041.28   142283698.6
FOL INTERNATIONA   4513251Z ID       -73407123.12   337876005.2
FORD MOTOR CO LT   1291306Z LN       -926039399.1    5261361595
FORTHNET R-R       FORTV10 GA        -129513405.2   730028940.1
FORTHNET REPO      FORTL10 GA        -129513405.2   730028940.1
FORTHNET SA        FORTHY B3         -129513405.2   730028940.1
FORTHNET SA        FORTH EO          -129513405.2   730028940.1
FORTHNET SA        FN6 GR            -129513405.2   730028940.1
FORTHNET SA        FORTH PZ          -129513405.2   730028940.1
FORTHNET SA        FNETF US          -129513405.2   730028940.1
FORTHNET SA        FRHNF US          -129513405.2   730028940.1
FORTHNET SA        FORTH EU          -129513405.2   730028940.1
FORTHNET SA        FORTHY S2         -129513405.2   730028940.1
FORTHNET SA        FORTHY L3         -129513405.2   730028940.1
FORTHNET SA        FN61 GR           -129513405.2   730028940.1
FORTHNET SA        FORTH GA          -129513405.2   730028940.1
FORTHNET SA- RTS   FORTHEUR EU       -129513405.2   730028940.1
FORTHNET SA- RTS   FORTHEUR EO       -129513405.2   730028940.1
FORTHNET SA- RTS   FORTHR GA         -129513405.2   730028940.1
FORTHNET SA-RT     2905043Q GA       -129513405.2   730028940.1
FORTHNET SA-RTS    0918102D GA       -129513405.2   730028940.1
FORTHNET-AUCTION   FORTHE GA         -129513405.2   730028940.1
FOTOVISTA          666680Z FP        -164906523.7   144423244.8
FOUR SEASONS HEA   1865450Z LN       -70922359.13   339298185.3
FRANCE TEL-CVG     WFA US            -161280537.3   766114863.8
FREE RECORD SHOP   FRSHN NA          -1845202.816   135750172.5
FREE RECORD SHOP   776709Q US        -1845202.816   135750172.5
FREE RECORD-NEW    2922Q US          -1845202.816   135750172.5
FREE RECORD-STK    FREES NA          -1845202.816   135750172.5
FRENCH CONNECTIO   1092170Z LN       -56979412.48   126916995.8
FRESHWATER FINAN   699575Z ID        -356859861.6    2117171097
FRUIT OF THE LOO   4459361Z ID       -148264849.1   362413542.6
FUGRO-GEOTEAM AS   4777049Z NO       -26835943.96   280819059.2
FUJITSU SIEMENS    2332Z NA          -3856160.021    2920765776
FUND FOR ORDERED   3451402Z SM        -2411855924   12405762920
FW FARNSWORTH LT   1293386Z LN       -65739932.28   107240946.6
G4S SECURE SOL     1383954Z LN       -98910616.11   439870371.2
GALATASARAY SPOR   GSY GR            -39424162.03   339166438.3
GALATASARAY SPOR   GSRAY TI          -39424162.03   339166438.3
GALATASARAY SPOR   1092028D TI       -39424162.03   339166438.3
GALATASARAY SPOR   1092030D TI       -39424162.03   339166438.3
GALATASARAY SPOR   1092031D TI       -39424162.03   339166438.3
GALATASARAY SPOR   GALA IX           -39424162.03   339166438.3
GALATASARAY SPOR   GSRAYR TI         -39424162.03   339166438.3
GALATASARAY SPOR   GATSF US          -39424162.03   339166438.3
GALATASARAY-NEW    GSRAYY TI         -39424162.03   339166438.3
GALIFORM CORPORA   1478794Z LN        -42240607.6   356838258.9
GALLAGHER UK LTD   4422897Z LN       -8986482.825   196569821.2
GARTLAND WHALLEY   GWB LN            -10987103.36   145356463.2
GAZ-FINANS OOO     GAZF RU           -56134.51002   232319894.6
GE POWER CONTROL   3744144Z SM        -96711575.3   106573693.4
GENERAL MOTORS     1062338Z LN        -1050450006    1467250566
GEOBAN UK LTD      1207967Z LN       -151608.7187   126736022.7
GERIMEX BV         3820372Z NA       -944079.0697   121833289.5
GESTESA DESARROL   3797476Z SM        -17369623.2   398147084.9
GFI SOFTWARE S.A   GFIS US             -102039000     369868992
GFI SOFTWARE S.A   GFIX US             -102039000     369868992
GFI SOFTWARE S.A   0620577D US         -102039000     369868992
GGT GROUP PLC      500970Q LN          -156372272   408211200.9
GGT GROUP-ADR      GGTRY US            -156372272   408211200.9
GLAXOSMITHKLINE    1426Z LN          -4969083.544   12826999154
GLENCORE ESPANA    3752336Z SM       -113656.5233   446394459.3
GLOBAL CROSSING    3629883Z LN       -629418516.5   429046146.8
GONDOLA GROUP LT   4499995Z LN         -617655808    1510184565
GRANDE PAROISSE    GDPA FP           -927267926.9     629287290
GRANDE PAROISSE    GDPXF US          -927267926.9     629287290
GRANDE PAROISSE    GAPA FP           -927267926.9     629287290
GRANDES ALMACENE   4376721Z SM       -6342478.213   162039364.8
GRANDS MOU PARIS   2034Q FP          -6439463.239   201491758.9
GRAZHDANSKIE SAM   GSSU RU             -398069984    2511169024
GREAT EASTERN HO   1708272Z LN       -5065882.795   153629770.7
GREEN WIND ENERG   GW EU             -11320362.36     176234024
GREEN WIND ENERG   G7W1 GR           -11320362.36     176234024
GREEN WIND ENERG   GW BY             -11320362.36     176234024
GREEN WIND ENERG   GW EO             -11320362.36     176234024
GREEN WIND ENERG   GW PZ             -11320362.36     176234024
GREEN WIND ENERG   GWEUR EO          -11320362.36     176234024
GREEN WIND ENERG   GW DC             -11320362.36     176234024
GREEN WIND ENERG   GWEUR EU          -11320362.36     176234024
GROUPE PROGRES S   4734137Z FP       -145582524.5   135577203.6
GRUPO EMPRESARIA   GSJ EO            -69520552.19    2910350172
GRUPO EMPRESARIA   GSJ PZ            -69520552.19    2910350172
GRUPO EMPRESARIA   GSJ EU            -69520552.19    2910350172
GRUPO EMPRESARIA   GSJ SM            -69520552.19    2910350172
GRUPO EMPRESARIA   GSJE L3           -69520552.19    2910350172
GRUPO EMPRESARIA   GSJ IX            -69520552.19    2910350172
GRUPO EMPRESARIA   GSJ S1            -69520552.19    2910350172
GRUPO EMPRESARIA   GSJ EB            -69520552.19    2910350172
GRUPO EMPRESARIA   GSJE S2           -69520552.19    2910350172
GRUPO EMPRESARIA   GSJ TQ            -69520552.19    2910350172
GRUPO EMPRESARIA   GSJE B3           -69520552.19    2910350172
GRUPO TAVEX SA     TVXAF US          -10622070.67     655950832
GRUPO TAVEX SA     TVX SM            -10622070.67     655950832
GRUPO TAVEX SA     TVX S1            -10622070.67     655950832
GRUPO TAVEX SA     TVX EB            -10622070.67     655950832
GRUPO TAVEX SA     TVXE S2           -10622070.67     655950832
GRUPO TAVEX SA     TVX EO            -10622070.67     655950832
GRUPO TAVEX SA     TV3 GR            -10622070.67     655950832
GRUPO TAVEX SA     TVX EU            -10622070.67     655950832
GRUPO TAVEX SA     TVXE L3           -10622070.67     655950832
GRUPO TAVEX SA     TVX IX            -10622070.67     655950832
GRUPO TAVEX SA     TVX TQ            -10622070.67     655950832
GRUPO TAVEX SA     TVXE B3           -10622070.67     655950832
GS MULTI-CURRENC   4780921Z ID       -218031502.7    1766463253
GUENTHER & SOHN    0876248D PZ       -9612095.264     130075209
GUENTHER & SOHN    GUS GR            -9612095.264     130075209
GUENTHER & SOHN    GUS EU            -9612095.264     130075209
GUENTHER & SOHN    GUS EO            -9612095.264     130075209
GUERRINO PIVATO    4292565Z IM       -41218066.44   397216267.9
GUKOVUGOL          GUUG RU           -57835249.92   143665227.2
GUKOVUGOL          GUUG* RU          -57835249.92   143665227.2
GUKOVUGOL-PFD      GUUGP* RU         -57835249.92   143665227.2
GUKOVUGOL-PFD      GUUGP RU          -57835249.92   143665227.2
GURIEVSKY-BRD      GUMZ RU           -34332884.78   165760790.1
GURIEVSKY-BRD      GUMZ* RU          -34332884.78   165760790.1
HALCROW HOLDINGS   3892894Z LN       -483549930.1   279175214.8
HALS-DEVEL- GDR    86PN LI           -874213546.6    3351127450
HALS-DEVEL- GDR    86PN LN           -874213546.6    3351127450
HALS-DEVELOPMENT   HALSG RU          -874213546.6    3351127450
HALS-DEVELOPMENT   HALSUSD EO        -874213546.6    3351127450
HALS-DEVELOPMENT   SYR GR            -874213546.6    3351127450
HALS-DEVELOPMENT   HALS EB           -874213546.6    3351127450
HALS-DEVELOPMENT   HALSM RU          -874213546.6    3351127450
HALS-DEVELOPMENT   HALS RM           -874213546.6    3351127450
HALS-DEVELOPMENT   HALS* RU          -874213546.6    3351127450
HALS-DEVELOPMENT   HALS LI           -874213546.6    3351127450
HALS-DEVELOPMENT   HALSL L3          -874213546.6    3351127450
HALS-DEVELOPMENT   HALS TQ           -874213546.6    3351127450
HALS-DEVELOPMENT   HALSL BQ          -874213546.6    3351127450
HALS-DEVELOPMENT   HALSL S2          -874213546.6    3351127450
HALS-DEVELOPMENT   HALS RU           -874213546.6    3351127450
HALS-DEVELOPMENT   HALSL B3          -874213546.6    3351127450
HARMSWORTH PRINT   1552314Z LN       -5997756.143   101541044.1
HARMSWORTH QUAYS   1552378Z LN       -98887198.25   199544701.9
HARVEY NORMAN HO   4781809Z ID         -119046067   111163663.4
HATZIOANNOU        HATZK PZ          -54973436.99   102255716.8
HATZIOANNOU        HZI1 GR           -54973436.99   102255716.8
HATZIOANNOU        HATZK GA          -54973436.99   102255716.8
HATZIOANNOU        HATZK EO          -54973436.99   102255716.8
HATZIOANNOU        HATZK EU          -54973436.99   102255716.8
HATZIOANNOU ANON   HATZP EU          -54973436.99   102255716.8
HATZIOANNOU ANON   HATZP PZ          -54973436.99   102255716.8
HATZIOANNOU ANON   HATZP EO          -54973436.99   102255716.8
HATZIOANNOU ANON   HATZP GA          -54973436.99   102255716.8
HATZIOANNOU-RTS    HATZKR GA         -54973436.99   102255716.8
HAYMARKET GROUP    4158941Z LN        -72068008.6   252361040.7
HBPOLSKA           HBPEUR EO         -239476687.5   175703330.6
HBPOLSKA           HBWL PZ           -239476687.5   175703330.6
HBPOLSKA           HBP PW            -239476687.5   175703330.6
HBPOLSKA           HBP EU            -239476687.5   175703330.6
HBPOLSKA           HBW PW            -239476687.5   175703330.6
HBPOLSKA           HBP LI            -239476687.5   175703330.6
HBPOLSKA           HBPEUR EU         -239476687.5   175703330.6
HBPOLSKA           HBP EO            -239476687.5   175703330.6
HBPOLSKA-PD-ALLT   HBPA PW           -239476687.5   175703330.6
HEEGH AUTOLINERS   4389209Z NO       -812350.1488   537484504.9
HELI-ONE NORWAY    4632761Z NO       -79370156.68     663779418
HELLAS ONLIN-RTS   HOLR GA           -16749909.57   344522957.8
HELLAS ONLINE SA   HOLY B3           -16749909.57   344522957.8
HELLAS ONLINE SA   HOL GA            -16749909.57   344522957.8
HELLAS ONLINE SA   UN5 GR            -16749909.57   344522957.8
HELLAS ONLINE SA   BRAIN EU          -16749909.57   344522957.8
HELLAS ONLINE SA   BRAIN PZ          -16749909.57   344522957.8
HELLAS ONLINE SA   BRAIN EO          -16749909.57   344522957.8
HELLAS ONLINE SA   0394471Q GA       -16749909.57   344522957.8
HELLAS ONLINE SA   BRAIN GA          -16749909.57   344522957.8
HELLAS ONLINE SA   HOLY L3           -16749909.57   344522957.8
HELLAS ONLINE SA   HOLY S2           -16749909.57   344522957.8
HELLENIC FAB-RTS   ELYFD GA          -38109769.06   118721472.5
HELLENIC FABRICS   ELYF GA           -38109769.06   118721472.5
HELLENIC FABRICS   ELYF PZ           -38109769.06   118721472.5
HELLENIC FABRICS   ELYFY S2          -38109769.06   118721472.5
HELLENIC FABRICS   ELYF EO           -38109769.06   118721472.5
HELLENIC FABRICS   ELYFY L3          -38109769.06   118721472.5
HELLENIC FABRICS   ELYF EU           -38109769.06   118721472.5
HELLENIC FABRICS   ELYFY B3          -38109769.06   118721472.5
HELLENIC S-AUCT    HSIE GA           -8831314.748   320019241.9
HELLENIC SUGAR     HE7 GR            -8831314.748   320019241.9
HELLENIC SUGAR     HSI EU            -8831314.748   320019241.9
HELLENIC SUGAR     HSI GA            -8831314.748   320019241.9
HELLENIC SUGAR     HSI EO            -8831314.748   320019241.9
HELLENIC SUGAR     HIS GA            -8831314.748   320019241.9
HELLENIC SUGAR     HSI1 PZ           -8831314.748   320019241.9
HELLENIC SUGAR I   HSIY L3           -8831314.748   320019241.9
HELLENIC SUGAR I   HSIY B3           -8831314.748   320019241.9
HELLENIC SUGAR I   HSIY S2           -8831314.748   320019241.9
HERSAL-INVESTIME   4764577Z PL       -25242472.01   595266653.4
HESS INDONESIA P   1705776Z LN          -22193000     816726976
HEWLETT-PACKARD    4470239Z FP       -244195175.5    1053527540
HEWLETT-PACKARD    1963382Z LN       -909454604.5    4585176328
HIBU PLC           YELL5 EO           -2257521127    2120614224
HIBU PLC           YELL7 EO           -2257521127    2120614224
HIBU PLC           YELL8 EO           -2257521127    2120614224
HIBU PLC           YELL2 EO           -2257521127    2120614224
HIBU PLC           YELL6 EO           -2257521127    2120614224
HIBU PLC           YELL4 EO           -2257521127    2120614224
HIBU PLC           HIBU1 EO           -2257521127    2120614224
HIBU PLC           YELL9 EO           -2257521127    2120614224
HIBU PLC           HIBUI GR           -2257521127    2120614224
HIBU PLC           YELL3 EO           -2257521127    2120614224
HIBU PLC           YELL1 EO           -2257521127    2120614224
HIBU PLC           HIBU BQ            -2257521127    2120614224
HIBU PLC           HIBUGBP EO         -2257521127    2120614224
HIBU PLC           YELLGBP EO         -2257521127    2120614224
HIBU PLC           YELL EO            -2257521127    2120614224
HIBU PLC           YELL IX            -2257521127    2120614224
HIBU PLC           YELL BQ            -2257521127    2120614224
HIBU PLC           YELL EB            -2257521127    2120614224
HIBU PLC           YELL QM            -2257521127    2120614224
HIBU PLC           YELL TQ            -2257521127    2120614224
HIBU PLC           YE1 GR             -2257521127    2120614224
HIBU PLC           HIBUEUR EU         -2257521127    2120614224
HIBU PLC           HIBU PZ            -2257521127    2120614224
HIBU PLC           HIBU TQ            -2257521127    2120614224
HIBU PLC           YELL NR            -2257521127    2120614224
HIBU PLC           HIBU EB            -2257521127    2120614224
HIBU PLC           YELGF US           -2257521127    2120614224
HIBU PLC           HIBUUSD EU         -2257521127    2120614224
HIBU PLC           YELLUSD EO         -2257521127    2120614224
HIBU PLC           YELL S1            -2257521127    2120614224
HIBU PLC           YELLUSD EU         -2257521127    2120614224
HIBU PLC           YELLEUR EU         -2257521127    2120614224
HIBU PLC           HIBU IX            -2257521127    2120614224
HIBU PLC           YELL EU            -2257521127    2120614224
HIBU PLC           YEL EO             -2257521127    2120614224
HIBU PLC           HIBU EO            -2257521127    2120614224
HIBU PLC           YELLEUR EO         -2257521127    2120614224
HIBU PLC           HIBU QM            -2257521127    2120614224
HIBU PLC           YE1 GK             -2257521127    2120614224
HIBU PLC           HIBU EU            -2257521127    2120614224
HIBU PLC           HIBU LN            -2257521127    2120614224
HIBU PLC-ADR       YELGY US           -2257521127    2120614224
HIDRODATA SA       3635591Z SM       -51941488.18   216193613.3
HIGHLANDS & ISLA   3965324Z LN        -17267598.2   151175056.7
HIPPO GESTION ET   4732841Z FP       -11276215.78   121769659.7
HISPAVIC IBERICA   4369473Z SM       -7466862.615   129050823.9
HMV GROUP -GDR     29362Z US         -218494079.6   415854059.2
HMV GROUP -GDR     276960Q GR        -218494079.6   415854059.2
HMV GROUP PLC      HMV PZ            -218494079.6   415854059.2
HMV GROUP PLC      HMV EO            -218494079.6   415854059.2
HMV GROUP PLC      HMV EU            -218494079.6   415854059.2
HMV GROUP PLC      HMV S1            -218494079.6   415854059.2
HMV GROUP PLC      HMV NQ            -218494079.6   415854059.2
HMV GROUP PLC      HMV PO            -218494079.6   415854059.2
HMV GROUP PLC      HMVEUR EO         -218494079.6   415854059.2
HMV GROUP PLC      HMVUSD EO         -218494079.6   415854059.2
HMV GROUP PLC      HMVMF US          -218494079.6   415854059.2
HMV GROUP PLC      HMV LN            -218494079.6   415854059.2
HMV GROUP PLC      HMV EB            -218494079.6   415854059.2
HMV GROUP PLC      HMV BQ            -218494079.6   415854059.2
HMV GROUP PLC      HMV TQ            -218494079.6   415854059.2
HMV GROUP PLC      HMV IX            -218494079.6   415854059.2
HMV GROUP PLC      HMV VX            -218494079.6   415854059.2
HMV GROUP PLC      HMV10 EO          -218494079.6   415854059.2
HMV GROUP PLC      HMV1 EO           -218494079.6   415854059.2
HMV GROUP PLC      HMV6 EO           -218494079.6   415854059.2
HMV GROUP PLC      HMV8 EO           -218494079.6   415854059.2
HMV GROUP PLC      HMV4 EO           -218494079.6   415854059.2
HMV GROUP PLC      HMVGBP EO         -218494079.6   415854059.2
HMV GROUP PLC      HMVUSD EU         -218494079.6   415854059.2
HMV GROUP PLC      HMVEUR EU         -218494079.6   415854059.2
HMV GROUP PLC      HMV NR            -218494079.6   415854059.2
HMV GROUP PLC      HMV7 EO           -218494079.6   415854059.2
HMV GROUP PLC      HM4 GK            -218494079.6   415854059.2
HMV GROUP PLC      HMV3 EO           -218494079.6   415854059.2
HMV GROUP PLC      HM4 GR            -218494079.6   415854059.2
HMV GROUP PLC      HMV9 EO           -218494079.6   415854059.2
HMV GROUP PLC      HMV5 EO           -218494079.6   415854059.2
HMV GROUP PLC      HMV2 EO           -218494079.6   415854059.2
HMV GROUP PLC      HMV QM            -218494079.6   415854059.2
HOEGH AUTOLINERS   4288645Z NO        -79685780.8    1940832344
HOGG ROBINSON GR   HRG9 EO           -43466918.99   713635983.5
HOGG ROBINSON GR   HRG2 EO           -43466918.99   713635983.5
HOGG ROBINSON GR   HRG S1            -43466918.99   713635983.5
HOGG ROBINSON GR   HRG PZ            -43466918.99   713635983.5
HOGG ROBINSON GR   HRG4 EO           -43466918.99   713635983.5
HOGG ROBINSON GR   HRGEUR EO         -43466918.99   713635983.5
HOGG ROBINSON GR   HOGGF US          -43466918.99   713635983.5
HOGG ROBINSON GR   HRG3 EO           -43466918.99   713635983.5
HOGG ROBINSON GR   HRG10 EO          -43466918.99   713635983.5
HOGG ROBINSON GR   HRGEUR EU         -43466918.99   713635983.5
HOGG ROBINSON GR   HRGGBP EO         -43466918.99   713635983.5
HOGG ROBINSON GR   HRG EO            -43466918.99   713635983.5
HOGG ROBINSON GR   HRG EU            -43466918.99   713635983.5
HOGG ROBINSON GR   HRG IX            -43466918.99   713635983.5
HOGG ROBINSON GR   HRG VX            -43466918.99   713635983.5
HOGG ROBINSON GR   HRG11 EO          -43466918.99   713635983.5
HOGG ROBINSON GR   HRG6 EO           -43466918.99   713635983.5
HOGG ROBINSON GR   HRGL B3           -43466918.99   713635983.5
HOGG ROBINSON GR   HRG7 EO           -43466918.99   713635983.5
HOGG ROBINSON GR   HRGL L3           -43466918.99   713635983.5
HOGG ROBINSON GR   HRG5 EO           -43466918.99   713635983.5
HOGG ROBINSON GR   HRGL S2           -43466918.99   713635983.5
HOGG ROBINSON GR   HRG8 EO           -43466918.99   713635983.5
HOGG ROBINSON GR   HRG LN            -43466918.99   713635983.5
HOGG ROBINSON GR   DQX GR            -43466918.99   713635983.5
HOLCIM ARIDOS SL   4371033Z SM       -11196144.03   158669280.5
HOLDINGSELSKABET   BODIL DC          -11320362.36     176234024
HOLDINGSELSKABET   BOHC IX           -11320362.36     176234024
HOMEFIELD PVT UK   4501835Z LN       -137159188.5   565018471.7
HOOGE RAEDT GROE   4173317Z NA       -19843.75064   208161796.3
HOOVER LTD         4380321Z LN       -155286370.7   182855507.8
HOSPITAL DE FARO   3789880Z PL       -39940408.05   525339055.1
HOSPITAL DISTRIT   3778128Z PL       -10535872.48   108186725.8
HOSPITAL DO DIVI   3789932Z PL       -194376369.9   195688884.2
HUISVUILCENTRALE   4777713Z NA       -96523.00358    1420935808
HUNE PLATAFORMAS   4284309Z SM       -34729091.55   417373379.8
HUNGARIAN TELEPH   HUC EX              -187076880    1192440960
HUNGARIAN TELEPH   HUGC IX             -187076880    1192440960
HUTCHISON 3G UK    265923Z LN         -2558478023   10215382954
HYDREX HOLDINGS    4156949Z LN       -150851800.9   145586068.7
HZIAM OAO          HZAM UZ             -541300032     170562496
I VIAGGI DEL VEN   VVE EU            -209432168.7     202700610
I VIAGGI DEL VEN   IVGIF US          -209432168.7     202700610
I VIAGGI DEL VEN   VVE IM            -209432168.7     202700610
I VIAGGI DEL VEN   VVE IX            -209432168.7     202700610
I VIAGGI DEL VEN   VVE EO            -209432168.7     202700610
I VIAGGI DEL VEN   VVE TQ            -209432168.7     202700610
I VIAGGI DEL VEN   VVE PZ            -209432168.7     202700610
I VIAGGI DEL VEN   IV7 GR            -209432168.7     202700610
I VIAGGI-RTS       VVEAA IM          -209432168.7     202700610
ICA NORGE AS       4511499Z NO       -10597581.14   609028093.3
IDEAL STANDARD I   0288212Z LX        -1505758856    1697563897
IDEAL STANDARD I   4492755Z BB       -676586892.7    1579994753
IG GROUP LTD       IGI LN             -1338038148   453218507.9
IG GROUP PLC       IGGPF US           -1338038148   453218507.9
IG GROUP-ASSD      IGIA LN            -1338038148   453218507.9
IKON OFFICE SOLU   ERHI LN           -5243204.755   130041029.9
INCISIVE MED-ASD   INMA LN           -86381452.08   110502446.1
INCISIVE MEDIA     2292912Q VX       -86381452.08   110502446.1
INCISIVE MEDIA     INM IX            -86381452.08   110502446.1
INCISIVE MEDIA     2290657Q LN       -86381452.08   110502446.1
INCISIVE MEDIA     4030Z LN          -86381452.08   110502446.1
INCISIVE MEDIA     INM PO            -86381452.08   110502446.1
INCISIVE MEDIA     997071Q GR        -86381452.08   110502446.1
INCISIVE MEDIA     2290661Q PZ       -86381452.08   110502446.1
INDEP NEWS & MED   IPD GR            -53119001.67   310849009.8
INDEP NEWS & MED   INWS IX           -53119001.67   310849009.8
INDEP NEWS & MED   INM EB            -53119001.67   310849009.8
INDEP NEWS & MED   INM LN            -53119001.67   310849009.8
INDEP NEWS & MED   INM1 EO           -53119001.67   310849009.8
INDEP NEWS & MED   INM1GBX EO        -53119001.67   310849009.8
INDEP NEWS & MED   IPDC QX           -53119001.67   310849009.8
INDEP NEWS & MED   INM1 IX           -53119001.67   310849009.8
INDEP NEWS & MED   INWS ID           -53119001.67   310849009.8
INDEP NEWS & MED   INWS PO           -53119001.67   310849009.8
INDEP NEWS & MED   INM1 TQ           -53119001.67   310849009.8
INDEP NEWS & MED   INM ID            -53119001.67   310849009.8
INDEP NEWS & MED   INNS VX           -53119001.67   310849009.8
INDEP NEWS & MED   INM1 EU           -53119001.67   310849009.8
INDEP NEWS & MED   INM VX            -53119001.67   310849009.8
INDEP NEWS & MED   IPDC GK           -53119001.67   310849009.8
INDEP NEWS & MED   INP NZ            -53119001.67   310849009.8
INDEP NEWS & MED   IPD PO            -53119001.67   310849009.8
INDEP NEWS & MED   IPDC GR           -53119001.67   310849009.8
INDEP NEWS & MED   INNZF US          -53119001.67   310849009.8
INDEP NEWS & MED   INM1 EB           -53119001.67   310849009.8
INDEP NEWS & MED   INM1 NQ           -53119001.67   310849009.8
INDEP NEWS & MED   INM S1            -53119001.67   310849009.8
INDEP NEWS & MED   INM PZ            -53119001.67   310849009.8
INDEP NEWS & MED   INWS LN           -53119001.67   310849009.8
INDEP NEWS & MED   INM1 NR           -53119001.67   310849009.8
INDEP NEWS & MED   IPD PZ            -53119001.67   310849009.8
INDEP NEWS & MED   INM1GBX EU        -53119001.67   310849009.8
INDEP NEWS &-F/P   INWF LN           -53119001.67   310849009.8
INDEP NEWS &-F/P   IPDC ID           -53119001.67   310849009.8
INDEP NEWS &-N/P   INWN LN           -53119001.67   310849009.8
INDEP NEWS &-N/P   INDB ID           -53119001.67   310849009.8
INDEP NEWS &-NEW   INWN ID           -53119001.67   310849009.8
INDEP NEWS &-NEW   IPDA GR           -53119001.67   310849009.8
INDEP NEWS-ADR     INNZY US          -53119001.67   310849009.8
INDEP NEWSPAPERS   QQIAF US          -53119001.67   310849009.8
INDEP NEWSPAPERS   IPNWF US          -53119001.67   310849009.8
INDEPENDENT NEWS   IPDCI S2          -53119001.67   310849009.8
INDEPENDENT NEWS   INML S2           -53119001.67   310849009.8
INDEPENDENT NEWS   INML B3           -53119001.67   310849009.8
INDEPENDENT NEWS   IPDCI B3          -53119001.67   310849009.8
INDEPENDENT NEWS   IPDCI L3          -53119001.67   310849009.8
INDEPENDENT NEWS   INML L3           -53119001.67   310849009.8
INDEPENDENT-FPR    INMF LN           -53119001.67   310849009.8
INDEPENDENT-FPR    INMF PZ           -53119001.67   310849009.8
INDEPENDENT-FPR    INMF ID           -53119001.67   310849009.8
INDEPENDENT-NPR    INMN ID           -53119001.67   310849009.8
INDEPENDENT-NPR    INMN LN           -53119001.67   310849009.8
INDEPENDENT-NPR    INMN PZ           -53119001.67   310849009.8
INDIVIOR PLC       2IV TH            -475000018.1   747000000.5
INDIVIOR PLC       2IV QT            -475000018.1   747000000.5
INDIVIOR PLC       INDVL L3          -475000018.1   747000000.5
INDIVIOR PLC       2IVD L3           -475000018.1   747000000.5
INDIVIOR PLC       INDV LN           -475000018.1   747000000.5
INDIVIOR PLC       INDVEUR EU        -475000018.1   747000000.5
INDIVIOR PLC       INDVEUR EO        -475000018.1   747000000.5
INDIVIOR PLC       INDVL B3          -475000018.1   747000000.5
INDIVIOR PLC       2IVD B3           -475000018.1   747000000.5
INDIVIOR PLC       INDVUSD EU        -475000018.1   747000000.5
INDIVIOR PLC       INDVUSD EO        -475000018.1   747000000.5
INDIVIOR PLC       IZQVF US          -475000018.1   747000000.5
INDIVIOR PLC       INDVL EB          -475000018.1   747000000.5
INDIVIOR PLC       INDVL IX          -475000018.1   747000000.5
INDIVIOR PLC       INDVL QX          -475000018.1   747000000.5
INDIVIOR PLC       INDVGBX EU        -475000018.1   747000000.5
INDIVIOR PLC       INDVGBX EO        -475000018.1   747000000.5
INDIVIOR PLC       INDVL TQ          -475000018.1   747000000.5
INDIVIOR PLC       2IV GR            -475000018.1   747000000.5
INDIVIOR PLC       0678492D LN       -475000018.1   747000000.5
INDIVIOR PLC       1186494D GR       -475000018.1   747000000.5
INDIVIOR PLC-ADR   INVVY US          -475000018.1   747000000.5
INDIVIOR PLC-ADR   2IVA GR           -475000018.1   747000000.5
INDUSTRIBO-B       INBOB DC          -49485067.68   159639319.3
INDUSTRIBO-B       FRMHB DC          -49485067.68   159639319.3
INDUSTRIE FINCUO   4270053Z IM       -15676157.12   111118283.9
INFRAESTRUCTURAS   3639039Z SM       -14511951.75   257249100.4
INFRASERV GMBH &   3999Z GR          -1643026.503    1298455493
INFRATEK ENTREPR   4402489Z NO       -8851664.805   122555001.7
ING LEASE FRANCE   4699881Z FP       -40970505.14   342324424.9
ING RE DORTMUND/   3819456Z NA       -89466987.51     138523135
ING REIM DEVELOP   3811140Z NA       -224924377.7     373174398
INTEGRALIS AG      AAGN PZ           -30518620.96   237457667.5
INTEGRALIS AG      AAGN IX           -30518620.96   237457667.5
INTEGRALIS AG      AAGN TH           -30518620.96   237457667.5
INTEGRALIS AG      ACIRF US          -30518620.96   237457667.5
INTEGRALIS-NEW     AAGM EU           -30518620.96   237457667.5
INTEGRALIS-NEW     AAGM GR           -30518620.96   237457667.5
INTEGRALIS-NEW     AAGM EO           -30518620.96   237457667.5
INTELSAT GLOBAL    0440101D US         -742566976   16469354496
INTELSAT SA        IJSA GR             -742566976   16469354496
INTELSAT SA        I US                -742566976   16469354496
INTERCONTIN-ADR    IHGA LN             -717000000    2817999872
INTERCONTIN-ADR    IC1C GR             -717000000    2817999872
INTERCONTIN-ADR    IHG US              -717000000    2817999872
INTERCONTIN-ADR    IHG-W US            -717000000    2817999872
INTERCONTIN-ADR    IC1E GR             -717000000    2817999872
INTERCONTINENTAL   IHGEUR EO           -717000000    2817999872
INTERCONTINENTAL   IHGL L3             -717000000    2817999872
INTERCONTINENTAL   IHGOF US            -717000000    2817999872
INTERCONTINENTAL   IHGL S2             -717000000    2817999872
INTERCONTINENTAL   IHG5 EO             -717000000    2817999872
INTERCONTINENTAL   IHGL B3             -717000000    2817999872
INTERCONTINENTAL   0616112D NR         -717000000    2817999872
INTERCONTINENTAL   IHG IX              -717000000    2817999872
INTERCONTINENTAL   IHG9 EO             -717000000    2817999872
INTERCONTINENTAL   IHG3 EO             -717000000    2817999872
INTERCONTINENTAL   988082Q GR          -717000000    2817999872
INTERCONTINENTAL   IHG7 EO             -717000000    2817999872
INTERCONTINENTAL   ICHGFN L3           -717000000    2817999872
INTERCONTINENTAL   IHG EU              -717000000    2817999872
INTERCONTINENTAL   ICHGFN B3           -717000000    2817999872
INTERCONTINENTAL   IHG QM              -717000000    2817999872
INTERCONTINENTAL   IHG EO              -717000000    2817999872
INTERCONTINENTAL   IHGUSD EO           -717000000    2817999872
INTERCONTINENTAL   0615615D GR         -717000000    2817999872
INTERCONTINENTAL   IHGCHF EU           -717000000    2817999872
INTERCONTINENTAL   IHG8 EO             -717000000    2817999872
INTERCONTINENTAL   IHG6 EO             -717000000    2817999872
INTERCONTINENTAL   IHG NQ              -717000000    2817999872
INTERCONTINENTAL   IHG EB              -717000000    2817999872
INTERCONTINENTAL   IC1 GR              -717000000    2817999872
INTERCONTINENTAL   IHG VX              -717000000    2817999872
INTERCONTINENTAL   IHGCHF EO           -717000000    2817999872
INTERCONTINENTAL   IHGEUR EU           -717000000    2817999872
INTERCONTINENTAL   IHG PO              -717000000    2817999872
INTERCONTINENTAL   IHGPEN EO           -717000000    2817999872
INTERCONTINENTAL   IHGUSD EU           -717000000    2817999872
INTERCONTINENTAL   IHGPEN EU           -717000000    2817999872
INTERCONTINENTAL   IHG10 EO            -717000000    2817999872
INTERCONTINENTAL   ICHGF US            -717000000    2817999872
INTERCONTINENTAL   IHGGBP EO           -717000000    2817999872
INTERCONTINENTAL   IHG11 EO            -717000000    2817999872
INTERCONTINENTAL   IHG2 EO             -717000000    2817999872
INTERCONTINENTAL   IHG BQ              -717000000    2817999872
INTERCONTINENTAL   IC1B GR             -717000000    2817999872
INTERCONTINENTAL   IHG TQ              -717000000    2817999872
INTERCONTINENTAL   IHG4 EO             -717000000    2817999872
INTERCONTINENTAL   IHG PZ              -717000000    2817999872
INTERCONTINENTAL   IHG QX              -717000000    2817999872
INTERCONTINENTAL   ICHGD US            -717000000    2817999872
INTERCONTINENTAL   IHG NR              -717000000    2817999872
INTERCONTINENTAL   IC1A GR             -717000000    2817999872
INTERCONTINENTAL   IHG S1              -717000000    2817999872
INTERCONTINENTAL   IC1D GR             -717000000    2817999872
INTERCONTINENTAL   IC1A GK             -717000000    2817999872
INTERCONTINENTAL   IHG LN              -717000000    2817999872
INTERCONTINENTAL   INCNF US            -717000000    2817999872
INTU METROCENTRE   1203663Z LN       -302495159.7   419782439.6
INVITEL HOLD-ADR   0IN GR              -187076880    1192440960
INVITEL HOLD-ADR   IHO US              -187076880    1192440960
INVITEL HOLD-ADR   INVHY US            -187076880    1192440960
INVITEL HOLDINGS   3212873Z HB         -187076880    1192440960
IRANIAN OIL CO U   1380570Z LN       -202472920.8   279941193.8
IRISH NATIONWIDE   1020Z ID          -24459779.01   16215363311
IRUS ZWEIBRUCKEN   3738979Z BB       -241717.0423   109895201.2
ISTRABENZ          ITBG EU           -60693574.46   254428884.6
ISTRABENZ          ITBGT B3          -60693574.46   254428884.6
ISTRABENZ          ITBGT S2          -60693574.46   254428884.6
ISTRABENZ          ITBG EO           -60693574.46   254428884.6
ISTRABENZ          ITBG SV           -60693574.46   254428884.6
ISTRABENZ          ITBG PZ           -60693574.46   254428884.6
ISTRABENZ          ITBGT L3          -60693574.46   254428884.6
ITM ALIMENTAIRE    4171373Z BB       -5770953.189   103462599.4
ITM REGION PARIS   4681817Z FP       -49661385.76   124319348.6
IZHAVTO OAO        IZAV RU           -94100821.69   443610350.5
JACOBS UK HOLDIN   3638823Z LN       -21104249.79   705658066.8
JAMES HARDIE -CD   JHXCD AU            -224400000    2015200000
JAMES HARDIE IND   600241Q GR          -224400000    2015200000
JAMES HARDIE IND   HAH NZ              -224400000    2015200000
JAMES HARDIE IND   HAH AU              -224400000    2015200000
JAMES HARDIE IND   726824Z NA          -224400000    2015200000
JAMES HARDIE NV    JHXCC AU            -224400000    2015200000
JAMES HARDIE-ADR   JHINY US            -224400000    2015200000
JAMES HARDIE-ADR   JHX US              -224400000    2015200000
JAMES HARDIE-ADR   JHX SP              -224400000    2015200000
JAMES HARDIE-CDI   JHA TH              -224400000    2015200000
JAMES HARDIE-CDI   JHX AU              -224400000    2015200000
JAMES HARDIE-CDI   JHXEUR EO           -224400000    2015200000
JAMES HARDIE-CDI   JHXEUR EU           -224400000    2015200000
JAMES HARDIE-CDI   JHIUF US            -224400000    2015200000
JAMES HARDIE-CDI   JHA GR              -224400000    2015200000
JARVIS PLC         JRVS7 EO          -64738078.31   130947476.6
JARVIS PLC         JVSPF US          -64738078.31   130947476.6
JARVIS PLC         JRVS EU           -64738078.31   130947476.6
JARVIS PLC         JRVSGBP EO        -64738078.31   130947476.6
JARVIS PLC         JRVS2 EO          -64738078.31   130947476.6
JARVIS PLC         JRVS8 EO          -64738078.31   130947476.6
JARVIS PLC         JRVS3 EO          -64738078.31   130947476.6
JARVIS PLC         JRVS EO           -64738078.31   130947476.6
JARVIS PLC         JRVS4 EO          -64738078.31   130947476.6
JARVIS PLC         JRVS5 EO          -64738078.31   130947476.6
JARVIS PLC         JRVS IX           -64738078.31   130947476.6
JARVIS PLC         JRV EO            -64738078.31   130947476.6
JARVIS PLC         JRVSEUR EU        -64738078.31   130947476.6
JARVIS PLC         JRVS1 EO          -64738078.31   130947476.6
JARVIS PLC         JRVS LN           -64738078.31   130947476.6
JARVIS PLC         JRVS PZ           -64738078.31   130947476.6
JARVIS PLC         JVR GR            -64738078.31   130947476.6
JARVIS PLC         JRVSEUR EO        -64738078.31   130947476.6
JARVIS PLC         JRVS6 EO          -64738078.31   130947476.6
JARVIS PLC         JRVS9 EO          -64738078.31   130947476.6
JARVIS PLC         JRVS PO           -64738078.31   130947476.6
JARVIS PLC         JRVS VX           -64738078.31   130947476.6
JDR ENTERPRISES    3947788Z LN       -62221895.94   150357985.7
JESSOPS PLC        JSP PO            -42703065.53   112966830.6
JESSOPS PLC        JSP EO            -42703065.53   112966830.6
JESSOPS PLC        JSP IX            -42703065.53   112966830.6
JESSOPS PLC        JS4 GR            -42703065.53   112966830.6
JESSOPS PLC        JSPEUR EU         -42703065.53   112966830.6
JESSOPS PLC        JSPEUR EO         -42703065.53   112966830.6
JESSOPS PLC        JSP VX            -42703065.53   112966830.6
JESSOPS PLC        JSP PZ            -42703065.53   112966830.6
JESSOPS PLC        JSP LN            -42703065.53   112966830.6
JESSOPS PLC        JSP EU            -42703065.53   112966830.6
JESSOPS PLC        JSPGBP EO         -42703065.53   112966830.6
JEUDAN III A/S     3986972Z DC       -80338193.89   277838976.7
JP MCDOUGALL & C   1293298Z LN       -59332025.51   108780794.1
JPMORGAN CAZENOV   1076890Z LN       -3273441.597   147502007.3
JULIE LH BVBA      3739923Z BB       -65462971.58   119397670.6
JVC EUROPE LTD     2667041Z LN       -2824796.147   131998340.5
KABEL DEUT-ASST    KD8V GR            -1901940864    3182972434
KABEL DEUTS-CW10   DB7KWG GR          -1901940864    3182972434
KABEL DEUTSC-ADR   KBDHY US           -1901940864    3182972434
KABEL DEUTSC-NEW   KD8VEUR EO         -1901940864    3182972434
KABEL DEUTSC-NEW   KD8VEUR EU         -1901940864    3182972434
KABEL DEUTSCHLAN   KD8USD EO          -1901940864    3182972434
KABEL DEUTSCHLAN   KD8 S1             -1901940864    3182972434
KABEL DEUTSCHLAN   KD8 TQ             -1901940864    3182972434
KABEL DEUTSCHLAN   KD8 EO             -1901940864    3182972434
KABEL DEUTSCHLAN   KD8 QX             -1901940864    3182972434
KABEL DEUTSCHLAN   KD8D S2            -1901940864    3182972434
KABEL DEUTSCHLAN   KD8 EU             -1901940864    3182972434
KABEL DEUTSCHLAN   KD8D L3            -1901940864    3182972434
KABEL DEUTSCHLAN   KD8 IX             -1901940864    3182972434
KABEL DEUTSCHLAN   KD8 QM             -1901940864    3182972434
KABEL DEUTSCHLAN   KD8USD EU          -1901940864    3182972434
KABEL DEUTSCHLAN   KD8 GR             -1901940864    3182972434
KABEL DEUTSCHLAN   KD8D B3            -1901940864    3182972434
KABEL DEUTSCHLAN   KD8 EB             -1901940864    3182972434
KABEL DEUTSCHLAN   KD8 LI             -1901940864    3182972434
KABEL DEUTSCHLAN   KD8 SW             -1901940864    3182972434
KABEL DEUTSCHLAN   KBDHF US           -1901940864    3182972434
KABEL DEUTSCHLAN   KD8 NR             -1901940864    3182972434
KABEL DEUTSCHLAN   KD8CHF EU          -1901940864    3182972434
KABEL DEUTSCHLAN   KD8CHF EO          -1901940864    3182972434
KABEL DEUTSCHLAN   KD8 PZ             -1901940864    3182972434
KABEL DEUTSCHLAN   KD8 QT             -1901940864    3182972434
KABEL DEUTSCHLAN   KD8 BQ             -1901940864    3182972434
KABEL DEUTSCHLAN   KD8 TH             -1901940864    3182972434
KABEL DEUTSCHLAN   KD8GBP EO          -1901940864    3182972434
KARENI BV          3140496Z NA       -22200.29082   127062363.4
KAUFRING AG        KFR EU            -19296489.56   150995473.8
KAUFRING AG        KFR PZ            -19296489.56   150995473.8
KAUFRING AG        KFR GR            -19296489.56   150995473.8
KAUFRING AG        KAUG IX           -19296489.56   150995473.8
KAUFRING AG        KFR EO            -19296489.56   150995473.8
KCA DEUTAG DRILL   2173132Z LN       -40951514.04   214072287.9
KEREVITAS GIDA     KVTGF US          -7228939.141     195026590
KEREVITAS GIDA     KERVT TI          -7228939.141     195026590
KERLING PLC        3537299Z LN       -110412955.5    2082150198
KESA ELECTRI-ADR   KESAY US          -418911342.6    1563994117
KESA ELECTRICALS   KESA LN           -418911342.6    1563994117
KESA ELECTRICALS   KESAEUR EO        -418911342.6    1563994117
KESA ELECTRICALS   KESA PZ           -418911342.6    1563994117
KESA ELECTRICALS   KESAI IX          -418911342.6    1563994117
KESA ELECTRICALS   KESA VX           -418911342.6    1563994117
KESA ELECTRICALS   KESAUSD EU        -418911342.6    1563994117
KESA ELECTRICALS   KESAEUR EU        -418911342.6    1563994117
KESA ELECTRICALS   KES EO            -418911342.6    1563994117
KESA ELECTRICALS   KESA EU           -418911342.6    1563994117
KESA ELECTRICALS   KESAGBP EO        -418911342.6    1563994117
KESA ELECTRICALS   KESAUSD EO        -418911342.6    1563994117
KESTREL HOLDINGS   4499515Z LN       -406756176.3   507174141.5
KILMARTIN HOLDIN   3589161Z LN       -32468603.82   576745598.9
KIMBERLY - CLARK   1298434Z LN       -97807698.98   891995975.8
KIROV TIRE PLANT   KIRT$ RU          -17984240.01   104831160.6
KLEENEZE PLC       KLZ LN            -14328734.27   110864074.5
KME FRANCE SAS     4714545Z FP        -996944.737   143591756.8
KOMBINAT ALUMINI   KAPG ME           -258860211.3   263843440.7
KON VOLKER WESS    KVW GR            -395744.3147    4036389300
KONINKLIJKE BOON   4173173Z NA       -22200.29082   129620421.6
KONINKLIJKE HASK   4037221Z NA       -69259.20141   230145390.9
KRONOS EUROPE SA   3643983Z BB       -6946196.597   143876670.7
KROSNO             KRS1EUR EU        -2241576.868   111836250.4
KROSNO             KRS LI            -2241576.868   111836250.4
KROSNO             KRS1EUR EO        -2241576.868   111836250.4
KROSNO             1169011D PW       -2241576.868   111836250.4
KROSNO             KROS IX           -2241576.868   111836250.4
KROSNO SA          KRS1 EO           -2241576.868   111836250.4
KROSNO SA          KRNFF US          -2241576.868   111836250.4
KROSNO SA          KROSNO PW         -2241576.868   111836250.4
KROSNO SA          KRS PZ            -2241576.868   111836250.4
KROSNO SA          KRS1 EU           -2241576.868   111836250.4
KROSNO SA-RTS      KRSP PW           -2241576.868   111836250.4
KROSNO-PDA-ALLT    KRSA PW           -2241576.868   111836250.4
KRUINENBORGH BEH   4377225Z NA       -614989.4228   234051736.9
KUIPER GROEP BV    3821988Z NA       -3688.420875   101931401.5
KUZNETSOV-BRD      MTSTP* RU          -8309982.19   365876569.3
KUZNETSOV-BRD      MTST RU            -8309982.19   365876569.3
KUZNETSOV-BRD      MTSTP RU           -8309982.19   365876569.3
KUZNETSOV-BRD      MTST* RU           -8309982.19   365876569.3
LA GIOVANNI-RTS    CREAXA IM         -42072998.36   291988991.4
LA HALLE SA        4681697Z FP       -9779394.712   506881489.8
LA SEDA DE -CW09   0001692W SM       -739717245.2   686984724.9
LA SEDA DE -CW09   0002108W SM       -739717245.2   686984724.9
LA SEDA DE -CW09   0003348W SM       -739717245.2   686984724.9
LA SEDA DE -CW09   0002109W SM       -739717245.2   686984724.9
LA SEDA DE -CW09   0000508W SM       -739717245.2   686984724.9
LA SEDA DE -CW09   0000507W SM       -739717245.2   686984724.9
LA SEDA DE -CW09   0005210W SM       -739717245.2   686984724.9
LA SEDA DE -CW09   0000663W SM       -739717245.2   686984724.9
LA SEDA DE -CW09   0000662W SM       -739717245.2   686984724.9
LA SEDA DE -CW09   0005211W SM       -739717245.2   686984724.9
LA SEDA DE -CW09   0001691W SM       -739717245.2   686984724.9
LA SEDA DE B-RTS   SED/B SM          -739717245.2   686984724.9
LA SEDA DE BA-RT   1015153Q SM       -739717245.2   686984724.9
LA SEDA DE BARCE   3687081Q SM       -739717245.2   686984724.9
LA SEDA DE BARCE   SEDE S2           -739717245.2   686984724.9
LA SEDA DE BARCE   SEDE B3           -739717245.2   686984724.9
LA SEDA DE BARCE   1039767Z SM       -739717245.2   686984724.9
LA SEDA DE BARCE   SED/D SM          -739717245.2   686984724.9
LA SEDA DE BARCE   SEDE L3           -739717245.2   686984724.9
LA SEDA DE BARCE   0543025D SM       -739717245.2   686984724.9
LAB DOLISOS        LADL FP           -27753198.79   110489533.6
LAB DOLISOS        DOLI FP           -27753198.79   110489533.6
LABORDE GESTION    4518583Z FP       -12402807.46   177436814.5
LAMBRAKIS PR -RT   DOLD GA           -98128969.86   188912550.2
LAMBRAKIS PRESS    LA3A GR           -98128969.86   188912550.2
LAMBRAKIS PRESS    LA3 GR            -98128969.86   188912550.2
LAMBRAKIS PRESS    DOL EO            -98128969.86   188912550.2
LAMBRAKIS PRESS    DOLR GA           -98128969.86   188912550.2
LAMBRAKIS PRESS    DOL GA            -98128969.86   188912550.2
LAMBRAKIS PRESS    LMBKF US          -98128969.86   188912550.2
LAMBRAKIS PRESS    DOL EU            -98128969.86   188912550.2
LAMBRAKIS PRESS    DOL PZ            -98128969.86   188912550.2
LAMBRAKIS R-R      DOLV10 GA         -98128969.86   188912550.2
LAMBRAKIS REPO     DOLL10 GA         -98128969.86   188912550.2
LAMBRAKIS-AUC      DOLE GA           -98128969.86   188912550.2
LANCASTER INVEST   1575538Z LN       -87465972.36   102198480.6
LANCELOT LAND BV   4044589Z NA        -97554863.6   159989870.7
LAND VAN HOP NV    3727898Z BB       -4232246.124   117433048.7
LAPSENT LTD        203678Z LN        -52500640.36   290374473.6
LAST MINUTE NETW   1180895Z LN       -428588925.2   301782821.7
LASTAS A/S-A       0122306D DC       -49485067.68   159639319.3
LASTAS A/S-B SHS   LASTB EU          -49485067.68   159639319.3
LASTAS A/S-B SHS   LASTB DC          -49485067.68   159639319.3
LASTAS A/S-B SHS   LASTBEUR EU       -49485067.68   159639319.3
LASTAS A/S-B SHS   INBO IX           -49485067.68   159639319.3
LASTAS A/S-B SHS   LAST/B PZ         -49485067.68   159639319.3
LASTAS A/S-B SHS   LASTBEUR EO       -49485067.68   159639319.3
LASTAS A/S-B SHS   LASTB EO          -49485067.68   159639319.3
LASTAS A/S-B SHS   LASTB BY          -49485067.68   159639319.3
LATIMER GROUP LT   4089809Z LN       -879564577.7   791552405.4
LAVIPHARM S.A.     LAVIY L3          -51677867.79   109024893.7
LAVIPHARM S.A.     LAVIY S2          -51677867.79   109024893.7
LAVIPHARM S.A.     LAVIY B3          -51677867.79   109024893.7
LAVIPHARM SA       LVIXF US          -51677867.79   109024893.7
LAVIPHARM SA       LAVI EU           -51677867.79   109024893.7
LAVIPHARM SA       LAVI PZ           -51677867.79   109024893.7
LAVIPHARM SA       LVP GR            -51677867.79   109024893.7
LAVIPHARM SA       LAVI GA           -51677867.79   109024893.7
LAVIPHARM SA       BXA GR            -51677867.79   109024893.7
LAVIPHARM SA       LAVI EO           -51677867.79   109024893.7
LAVIPHARM SA-RTS   LAVID GA          -51677867.79   109024893.7
LAVIPHARM SA-RTS   LAVIR GA          -51677867.79   109024893.7
LAVIPHARM-AUC      LAVIE GA          -51677867.79   109024893.7
LEEDS SPORTING     LEDPF US           -73166148.8   143762193.7
LEEDS SPORTING     LES LN             -73166148.8   143762193.7
LEEDS UNITED PLC   LUFC LN            -73166148.8   143762193.7
LEEDS UNITED PLC   889687Q GR         -73166148.8   143762193.7
LEEDS UNITED PLC   LDSUF US           -73166148.8   143762193.7
LENOVO BELGIUM S   3740171Z BB       -104525176.2    1113548956
LIBERTY GL EU-A    UPC NA             -5505478850    5112616630
LIBRA GROUP PLC    LHG EO            -39648682.41   209021322.6
LIBRA GROUP PLC    LHGCYP EU         -39648682.41   209021322.6
LIBRA GROUP PLC    LHGCYP EO         -39648682.41   209021322.6
LIBRA GROUP PLC    LHG EU            -39648682.41   209021322.6
LIBRA GROUP PLC    LHG CY            -39648682.41   209021322.6
LIBRA HOLIDA-RTS   LBR CY            -39648682.41   209021322.6
LIBRA HOLIDA-RTS   LGWR CY           -39648682.41   209021322.6
LIBRA HOLIDAY-RT   3167808Z CY       -39648682.41   209021322.6
LIBRA HOLIDAYS     LHGR CY           -39648682.41   209021322.6
LIBRA HOLIDAYS G   LHG PZ            -39648682.41   209021322.6
LIBRA HOLIDAYS-P   LBHG PZ           -39648682.41   209021322.6
LIBRA HOLIDAYS-P   LBHG CY           -39648682.41   209021322.6
LIBRO AG           LB6 GR            -110486313.8     174004185
LIBRO AG           LIBR AV           -110486313.8     174004185
LIBRO AG           LIB AV            -110486313.8     174004185
LIBRO AG           LBROF US          -110486313.8     174004185
LIGHT METALS IND   ETEMY L3           -7598573.75   160361172.3
LIGHT METALS IND   ETEMY B3           -7598573.75   160361172.3
LIGHT METALS IND   ETEMY S2           -7598573.75   160361172.3
LINO MANAGEMENT    3774416Z NA       -394579184.5   685321652.6
LIONCOVER INSURA   1120431Z LN       -221634.5078   741448932.8
LIVERPOOL FOOTBA   1273434Z LN       -67663901.97   349487574.1
LKAB NORGE AS      4401353Z NO       -460925.3937   430135628.2
LLOYDS BANK EQUI   1214495Z LN       -661502.0787   334567903.1
LLOYDS BANK EQUI   1238423Z LN       -1919497.182   270431461.4
LOEWE AG           LOE BQ            -2861100.078   140584053.8
LOEWE AG           LOE TQ            -2861100.078   140584053.8
LOEWE AG           LOE GR            -2861100.078   140584053.8
LOEWE AG           LOEK TQ           -2861100.078   140584053.8
LOEWE AG           LOE TH            -2861100.078   140584053.8
LOEWE AG           LOE PZ            -2861100.078   140584053.8
LOEWE AG           LOE EO            -2861100.078   140584053.8
LOEWE AG           LOE EU            -2861100.078   140584053.8
LOEWE AG           LOEG IX           -2861100.078   140584053.8
LOEWE AG           LOEK QT           -2861100.078   140584053.8
LOEWE AG           LOEK GR           -2861100.078   140584053.8
LOEWE AG           LOEK BQ           -2861100.078   140584053.8
LOEWE AG           LOE S1            -2861100.078   140584053.8
LOEWE AG           LOEEF US          -2861100.078   140584053.8
LOFTUS ROAD PLC    LFURF US          -193935862.6   120047585.7
LOMBARD CORPORAT   1162975Z LN       -7309362.404   198951662.4
LONDON TOWN PLC    LTWEUR EU         -21897636.36   175672299.2
LONDON TOWN PLC    LOU GR            -21897636.36   175672299.2
LONDON TOWN PLC    LTWEUR EO         -21897636.36   175672299.2
LONDON TOWN PLC    LTW EU            -21897636.36   175672299.2
LONDON TOWN PLC    LTW IX            -21897636.36   175672299.2
LONDON TOWN PLC    LTW PO            -21897636.36   175672299.2
LONDON TOWN PLC    LTW LN            -21897636.36   175672299.2
LONDON TOWN PLC    LTW PG            -21897636.36   175672299.2
LONDON TOWN PLC    LTWR LN           -21897636.36   175672299.2
LONDON TOWN PLC    LTW PZ            -21897636.36   175672299.2
LONDON TOWN PLC    LTW EO            -21897636.36   175672299.2
LONDON TOWN PLC    LTWX LN           -21897636.36   175672299.2
LTR FINANCE NO 8   3816616Z ID       -5725709.873   192004847.4
LUGANSKOBLENERGO   LOEN UZ           -15333824.91   193193520.1
M 2003 PLC         MTWOF US           -2203513803    7204891602
M 2003 PLC         203055Q LN         -2203513803    7204891602
M 2003 PLC-ADR     MTWOE US           -2203513803    7204891602
M 2003 PLC-ADR     MTWOY US           -2203513803    7204891602
M-INDUSTRIYA       SOMI RU           -1939922.304   224642713.4
MAGMA DD           MGMAREUR EU        -14866764.5   104029160.5
MAGMA DD           MGMARA CZ          -14866764.5   104029160.5
MAGMA DD           MGMARHRK EO        -14866764.5   104029160.5
MAGMA DD           MGMARHRK EU        -14866764.5   104029160.5
MAGMA DD           MGMAREUR EO        -14866764.5   104029160.5
MAGNETI MARELLI    3643903Z SM       -249160.3447   256260168.7
MAINAU FUNDING L   4460161Z ID       -210886395.2    1273830985
MAKRO CASH & CAR   4281845Z PL       -5353005.422   208082462.7
MAKRO SELF SERVI   1373618Z LN       -60067907.22   319992553.1
MAN LAST OG BUSS   4521719Z NO       -670202.3737   175532977.5
MAN VEHICULOS IN   3634127Z SM       -6234511.698   332429019.1
MANIA TECHNOLOGI   MNIG IX           -35060806.41   107465704.6
MANIA TECHNOLOGI   MNI GR            -35060806.41   107465704.6
MANIA TECHNOLOGI   MNI1 EU           -35060806.41   107465704.6
MANIA TECHNOLOGI   MIAVF US          -35060806.41   107465704.6
MANIA TECHNOLOGI   MNI NM            -35060806.41   107465704.6
MANIA TECHNOLOGI   MNI S1            -35060806.41   107465704.6
MANIA TECHNOLOGI   2260970Z GR       -35060806.41   107465704.6
MANIA TECHNOLOGI   MNI TH            -35060806.41   107465704.6
MANIA TECHNOLOGI   MNI1 EO           -35060806.41   107465704.6
MANIA TECHNOLOGI   MNI PZ            -35060806.41   107465704.6
MAPELEY STEPS CO   1914846Z LN       -65795182.14   128959683.5
MARCONI PLC        MNI LN             -2203513803    7204891602
MARCONI PLC        MRCQF US           -2203513803    7204891602
MARCONI PLC        MONI BB            -2203513803    7204891602
MARCONI PLC        MNI BB             -2203513803    7204891602
MARCONI PLC        MY2 GR             -2203513803    7204891602
MARCONI PLC        203083Q VX         -2203513803    7204891602
MARCONI PLC-ADR    MONIY US           -2203513803    7204891602
MARCONI PLC-ADR    MONIE US           -2203513803    7204891602
MARCONI PLC-ADR    MCONY US           -2203513803    7204891602
MARCONI PLC-ADR    MRCQY US           -2203513803    7204891602
MARCONI PLC-ADR    MCBA GR            -2203513803    7204891602
MARCONI PLC-ADR    QUQMON AU          -2203513803    7204891602
MARCONI PLC-ADR    MY2A GR            -2203513803    7204891602
MARCONI PLC-ADR    MONI US            -2203513803    7204891602
MARINE SUBSEA AS   MSAS NO             -280249984     357512992
MARINOTEIS-SOCIE   4753761Z PL       -14953194.76   133756219.5
MARTINSA FADESA    MTF EU             -5570172023    2895244415
MARTINSA FADESA    MTF SM             -5570172023    2895244415
MARTINSA FADESA    MTF1 LI            -5570172023    2895244415
MARTINSA FADESA    MTF EO             -5570172023    2895244415
MARTINSA FADESA    MFAD PZ            -5570172023    2895244415
MARTINSA FADESA    4PU GR             -5570172023    2895244415
MARTINSA-FADESA    MTF NR             -5570172023    2895244415
MATERNUS KLINI-N   MAK1 GR           -44477800.05   168038275.8
MATERNUS-KLINIKE   MAKD S2           -44477800.05   168038275.8
MATERNUS-KLINIKE   MAK EU            -44477800.05   168038275.8
MATERNUS-KLINIKE   MAK PZ            -44477800.05   168038275.8
MATERNUS-KLINIKE   MNUKF US          -44477800.05   168038275.8
MATERNUS-KLINIKE   MAK QT            -44477800.05   168038275.8
MATERNUS-KLINIKE   MAKD L3           -44477800.05   168038275.8
MATERNUS-KLINIKE   MAK GR            -44477800.05   168038275.8
MATERNUS-KLINIKE   MAK TH            -44477800.05   168038275.8
MATERNUS-KLINIKE   MAKD B3           -44477800.05   168038275.8
MATERNUS-KLINIKE   MAKG IX           -44477800.05   168038275.8
MATERNUS-KLINIKE   MAK S1            -44477800.05   168038275.8
MATERNUS-KLINIKE   MAK EO            -44477800.05   168038275.8
MATUSSIERE & FOR   MTUSF US          -77899559.39   293879179.1
MATUSSIERE & FOR   1007765Q FP       -77899559.39   293879179.1
MAYBOURNE HOTELS   1824362Z LN       -10154957.99   465282588.7
MCGRAW-HILL INTE   1275642Z LN       -397583.9996   122720927.9
MCINERNEY -RT FP   MCIF LN           -137972148.5   304108432.2
MCINERNEY -RT FP   MCIF ID           -137972148.5   304108432.2
MCINERNEY -RT NP   MCIN LN           -137972148.5   304108432.2
MCINERNEY -RT NP   MCIN ID           -137972148.5   304108432.2
MCINERNEY HLDGS    MCIGBX EU         -137972148.5   304108432.2
MCINERNEY HLDGS    MNEYF US          -137972148.5   304108432.2
MCINERNEY HLDGS    MCII IX           -137972148.5   304108432.2
MCINERNEY HLDGS    MCIGBX EO         -137972148.5   304108432.2
MCINERNEY HLDGS    MCI LN            -137972148.5   304108432.2
MCINERNEY HLDGS    MCI EO            -137972148.5   304108432.2
MCINERNEY HLDGS    MK9 PO            -137972148.5   304108432.2
MCINERNEY HLDGS    MCI EU            -137972148.5   304108432.2
MCINERNEY HLDGS    MK9 GR            -137972148.5   304108432.2
MCINERNEY HLDGS    MCI VX            -137972148.5   304108432.2
MCINERNEY HLDGS    MCI IX            -137972148.5   304108432.2
MCINERNEY HLDGS    MK9C PZ           -137972148.5   304108432.2
MCINERNEY HLDGS    MCI ID            -137972148.5   304108432.2
MCINERNEY HLDGS    MCI PO            -137972148.5   304108432.2
MCINERNEY HLDGS    MCIGBP EO         -137972148.5   304108432.2
MCINERNEY PROP-A   MYP ID            -137972148.5   304108432.2
MCINERNEY PROP-A   MCIYF US          -137972148.5   304108432.2
MCINERNEY PROP-A   MYP LN            -137972148.5   304108432.2
MCINERNEY-ADR      MNEYY US          -137972148.5   304108432.2
MEADOWHALL FINAN   3560793Z LN       -18209829.52    1185929065
MECHANGROEP BV     4501491Z NA       -154404.9003     124805349
MECHEL             MTLRG RU            -221372976   11383539712
MECHEL             MTLR RM             -221372976   11383539712
MECHEL             MTLR* RU            -221372976   11383539712
MECHEL             MTLR2 RM            -221372976   11383539712
MECHEL             MTLR0 RM            -221372976   11383539712
MECHEL             MTLR RU             -221372976   11383539712
MECHEL OAO-ADR     SAM LI              -221372976   11383539712
MECHEL-ADR         FQF GR              -221372976   11383539712
MECHEL-PFD         MTLRPG RU           -221372976   11383539712
MECHEL-PFD         MTLRP0 RM           -221372976   11383539712
MECHEL-PFD         MTLRP* RU           -221372976   11383539712
MECHEL-PFD         MTLRP RU            -221372976   11383539712
MECHEL-PFD         MTLRP2 RM           -221372976   11383539712
MECHEL-PREF        MTLRP RM            -221372976   11383539712
MECHEL-PREF ADR    MHSE GR             -221372976   11383539712
MECHEL-PREF ADR    MTL/P US            -221372976   11383539712
MECHEL-SP GDR      MTLR LI             -221372976   11383539712
MECHEL-SPON ADR    MHSA GR             -221372976   11383539712
MECHEL-SPON ADR    MTL US              -221372976   11383539712
MECHEL-SPON ADR    MTLUSD EU           -221372976   11383539712
MECHEL-SPON ADR    MTLUSD EO           -221372976   11383539712
MECHEL-SPON ADR    FQFG IX             -221372976   11383539712
MEDIMMUNE LTD      1596402Z LN        -1136873211   581445076.9
MERIDIANA SPA      1163Z IM          -4509241.938   181803591.5
METALLURGIC-BRD    METZ* RU          -25115600.28   358960368.2
METALLURGIC-BRD    METZ RU           -25115600.28   358960368.2
METALLURGIC-PFD    METZP* RU         -25115600.28   358960368.2
METALLURGIC-PFD    METZP RU          -25115600.28   358960368.2
METRIS ENGINEERI   3737699Z BB       -18042204.26   229878853.9
METRO DO PORTO S   4473963Z PL        -1539365046    3027538897
METROPOLITANO DE   1009Z PL          -626361531.4    6624482591
MICRO FOCUS INTL   M7Q2 GR               -2795000     571790976
MICRO FOCUS INTL   MCROGBP EO            -2795000     571790976
MICRO FOCUS INTL   MCROL BQ              -2795000     571790976
MICRO FOCUS INTL   M7Q GK                -2795000     571790976
MICRO FOCUS INTL   MCRO9 EO              -2795000     571790976
MICRO FOCUS INTL   MCROEUR EU            -2795000     571790976
MICRO FOCUS INTL   MCRO QM               -2795000     571790976
MICRO FOCUS INTL   MCRO LN               -2795000     571790976
MICRO FOCUS INTL   MCRO5 EO              -2795000     571790976
MICRO FOCUS INTL   MCRO QX               -2795000     571790976
MICRO FOCUS INTL   MCROUSD EO            -2795000     571790976
MICRO FOCUS INTL   MCROUSD EU            -2795000     571790976
MICRO FOCUS INTL   MCROPEN EO            -2795000     571790976
MICRO FOCUS INTL   MCROEUR EO            -2795000     571790976
MICRO FOCUS INTL   MCRO7 EO              -2795000     571790976
MICRO FOCUS INTL   MCRO8 EO              -2795000     571790976
MICRO FOCUS INTL   MCROL L3              -2795000     571790976
MICRO FOCUS INTL   MCRO EO               -2795000     571790976
MICRO FOCUS INTL   MCRO IX               -2795000     571790976
MICRO FOCUS INTL   MCROL S2              -2795000     571790976
MICRO FOCUS INTL   MCRO1 EO              -2795000     571790976
MICRO FOCUS INTL   MCRO TQ               -2795000     571790976
MICRO FOCUS INTL   MCROPEN EU            -2795000     571790976
MICRO FOCUS INTL   M7Q1 GR               -2795000     571790976
MICRO FOCUS INTL   MCROL S1              -2795000     571790976
MICRO FOCUS INTL   MCRO2 EO              -2795000     571790976
MICRO FOCUS INTL   MCRO6 EO              -2795000     571790976
MICRO FOCUS INTL   MCRO3 EO              -2795000     571790976
MICRO FOCUS INTL   MCFUF US              -2795000     571790976
MICRO FOCUS INTL   MCRO4 EO              -2795000     571790976
MICRO FOCUS INTL   MCRO NQ               -2795000     571790976
MICRO FOCUS INTL   MCRO VX               -2795000     571790976
MICRO FOCUS INTL   MCRO NR               -2795000     571790976
MICRO FOCUS INTL   MCRO BQ               -2795000     571790976
MICRO FOCUS INTL   MCRO S1               -2795000     571790976
MICRO FOCUS INTL   MCRO EU               -2795000     571790976
MICRO FOCUS INTL   MCRO EB               -2795000     571790976
MICRO FOCUS INTL   M7Q3 GR               -2795000     571790976
MICRO FOCUS INTL   MCR2 EO               -2795000     571790976
MICRO FOCUS INTL   M7Q GR                -2795000     571790976
MICRO FOCUS INTL   MCROL B3              -2795000     571790976
MICRO FOCUS INTL   MCFUD US              -2795000     571790976
MICRO FOCUS INTL   MCRO PO               -2795000     571790976
MICRO FOCUS INTL   MCRO PZ               -2795000     571790976
MICRO FOCUS-ADR    1120744D GR           -2795000     571790976
MICRO FOCUS-ADR    MCFUY US              -2795000     571790976
MIDLAND EXPRESSW   583730Z LN        -286663046.8    1047022514
MILLENNIUM STADI   1727672Z LN        -35927709.3   143590875.7
MILLIMAGES         8131905Q FP        -1006036.19   113452793.4
MILLIMAGES         MIL1 EO            -1006036.19   113452793.4
MILLIMAGES         MILI FP            -1006036.19   113452793.4
MILLIMAGES         MIL1 EU            -1006036.19   113452793.4
MILLIMAGES         MLIGF US           -1006036.19   113452793.4
MILLIMAGES         MILF PZ            -1006036.19   113452793.4
MILLIMAGES         MILT FP            -1006036.19   113452793.4
MILLIMAGES         MG6 GR             -1006036.19   113452793.4
MILLIMAGES         MIL1 PZ            -1006036.19   113452793.4
MILLIMAGES         MIL S1             -1006036.19   113452793.4
MILLIMAGES         MLMG IX            -1006036.19   113452793.4
MILLIMAGES - RTS   0134468D FP        -1006036.19   113452793.4
MILLIMAGES -NREG   MILNREUR EO        -1006036.19   113452793.4
MILLIMAGES -NREG   MILNREUR EU        -1006036.19   113452793.4
MILLIMAGES -NREG   MILNR FP           -1006036.19   113452793.4
MILLIMAGES -REGR   MIL TQ             -1006036.19   113452793.4
MILLIMAGES -REGR   MIL EB             -1006036.19   113452793.4
MILLIMAGES -REGR   MIL FP             -1006036.19   113452793.4
MILLIMAGES -REGR   MIL1EUR EO         -1006036.19   113452793.4
MILLIMAGES -REGR   MIL IX             -1006036.19   113452793.4
MILLIMAGES -REGR   MIL1EUR EU         -1006036.19   113452793.4
MILLIMAGES NR -    MILNRP B3          -1006036.19   113452793.4
MILLIMAGES NR -    MILNRP L3          -1006036.19   113452793.4
MILLIMAGES NR -    MILP S2            -1006036.19   113452793.4
MILLIMAGES NR -    MILNRP S2          -1006036.19   113452793.4
MILLIMAGES NR -    MILP B3            -1006036.19   113452793.4
MILLIMAGES NR -    MILP L3            -1006036.19   113452793.4
MILLIMAGES-RTS     MILDS FP           -1006036.19   113452793.4
MILLIMAGES-RTS     760037Q FP         -1006036.19   113452793.4
MILLIPORE UK LT    1924526Z LN       -30970136.97   253254381.4
MOBILE TELESYSTE   4115696Z LX         -348018999   808519791.7
MONARCH HOLDINGS   4502027Z LN       -249731094.1   658980214.4
MONTE MARE GRADO   4359985Z IM       -535795.2118   100538343.7
MOSPROMSTROY-BRD   MPSM RU           -50614422.93   250831050.5
MOSPROMSTROY-BRD   MPSM* RU          -50614422.93   250831050.5
MOSPROMSTROY-PFD   MPSMP RU          -50614422.93   250831050.5
MOSPROMSTROY-PFD   MPSMP* RU         -50614422.93   250831050.5
MOSTOBUD           MTBD UZ           -56429248.17   122386286.9
MOTO HOSPITALITY   1344378Z LN         -139041358    1143143841
MOUCHEL GROUP PL   MCHL NR           -62838511.24   491368809.7
MOUCHEL GROUP PL   MCHL LN           -62838511.24   491368809.7
MOUCHEL GROUP PL   MCHL IX           -62838511.24   491368809.7
MOUCHEL GROUP PL   MCHLEUR EO        -62838511.24   491368809.7
MOUCHEL GROUP PL   MCHL EO           -62838511.24   491368809.7
MOUCHEL GROUP PL   MCHLEUR EU        -62838511.24   491368809.7
MOUCHEL GROUP PL   MCHL BQ           -62838511.24   491368809.7
MOUCHEL GROUP PL   MCHLGBP EO        -62838511.24   491368809.7
MOUCHEL GROUP PL   MCHL S1           -62838511.24   491368809.7
MOUCHEL GROUP PL   MCHL EB           -62838511.24   491368809.7
MOUCHEL GROUP PL   MCHL QM           -62838511.24   491368809.7
MOUCHEL GROUP PL   MCHL PZ           -62838511.24   491368809.7
MOUCHEL GROUP PL   MCHL TQ           -62838511.24   491368809.7
MOUCHEL GROUP PL   MCHL EU           -62838511.24   491368809.7
MOUCHEL GROUP PL   MCHL NQ           -62838511.24   491368809.7
MOUCHEL GROUP PL   MO6 GR            -62838511.24   491368809.7
MOUCHEL GROUP PL   MOUCF US          -62838511.24   491368809.7
MOUCHEL GROUP PL   MCHL VX           -62838511.24   491368809.7
MOUCHEL PARKMAN    MCHL PO           -62838511.24   491368809.7
MSREF ELBA BV      4043045Z NA       -87419.09909   568916342.9
MVCI HOLIDAYS FR   4524959Z FP       -121090126.7   181621467.2
MYRMIDON CMBS PR   3819292Z ID       -106451277.7   274185088.8
MYTRAVEL GROUP     ARO2 GR             -379731744    1817560463
MYTRAVEL GROUP     MT/S LN             -379731744    1817560463
MYTRAVEL GROUP     3544280Q IX         -379731744    1817560463
MYTRAVEL GROUP     MT/S PO             -379731744    1817560463
MYTRAVEL GROUP     MT/S VX             -379731744    1817560463
MYTRAVEL GROUP     MYTPF US            -379731744    1817560463
MYTRAVEL GROUP P   MT/ LN              -379731744    1817560463
MYTRAVEL GROUP P   1018144Q GR         -379731744    1817560463
MYTRAVEL GROUP P   MT/ VX              -379731744    1817560463
MYTRAVEL GROUP P   MYTGF US            -379731744    1817560463
MYTRAVEL GROUP-A   2281919Q GR         -379731744    1817560463
MYTRAVEL GROUP-A   MYTVF US            -379731744    1817560463
MYTRAVEL TOUR OP   1190295Z LN        -2772041051   706177528.1
NAFTOKHIMIK PRIC   NAFP UZ           -15122638.98   167861356.9
NAFTOKHIMIK-GDR    N3ZA GR           -15122638.98   167861356.9
NAOUSSA SPIN -RT   NAOYD GA          -163112562.6   286535432.7
NAOUSSA SPIN-AUC   NAOYKE GA         -163112562.6   286535432.7
NAOUSSA SPIN-RTS   NAOYKR GA         -163112562.6   286535432.7
NAOUSSA SPINNING   NML GR            -163112562.6   286535432.7
NATURGAS ENERGIA   4365797Z SM       -14710105.75     418158346
NCC CONSTRUCTION   4389745Z NO       -7109783.015   480936679.5
NCC ROADS AS       4401305Z NO       -15956764.57   169875159.1
NDS GROUP HOLDIN   0112196D US         -720982016     649305984
NDS GROUP HOLDIN   NDSG US             -720982016     649305984
NEORION HOLDINGS   NEORS PZ          -221551.2364   429186289.2
NEORION HOLDINGS   NEORS EU          -221551.2364   429186289.2
NEORION HOLDINGS   NEORS GA          -221551.2364   429186289.2
NEORION HOLDINGS   NEORS EO          -221551.2364   429186289.2
NEORION NEW SA     NRNSF US          -221551.2364   429186289.2
NEORION NEW-AUC    NEORSE GA         -221551.2364   429186289.2
NERVACERO SA       4469951Z SM       -128546578.4   628042068.6
NESTLE UK LTD      1274562Z LN       -365280299.7    4383623775
NEW LOOK GROUP     648227Q LN        -651436258.7    2033386885
NEW LOOK GRP       NWLOF US          -651436258.7    2033386885
NEW LOOK GRP-ASD   NEWA LN           -651436258.7    2033386885
NEW LOOK RETAIL    2711544Z LN       -585235291.1    2073906244
NEW STAR ASSET     3226447Q EO       -397728016.9   292980082.9
NEW STAR ASSET     NSAM IX           -397728016.9   292980082.9
NEW STAR ASSET     NSAM TQ           -397728016.9   292980082.9
NEW STAR ASSET     3226443Q EO       -397728016.9   292980082.9
NEW STAR ASSET     3226431Q EU       -397728016.9   292980082.9
NEW STAR ASSET     3226439Q EU       -397728016.9   292980082.9
NEW STAR ASSET     N6S GR            -397728016.9   292980082.9
NEW STAR ASSET     NSAA LN           -397728016.9   292980082.9
NEW STAR ASSET     NSAM PO           -397728016.9   292980082.9
NEW STAR ASSET     NSAM PZ           -397728016.9   292980082.9
NEW STAR ASSET     NWSAF US          -397728016.9   292980082.9
NEW STAR ASSET     3226435Q EO       -397728016.9   292980082.9
NEW STAR ASSET M   NSAM LN           -397728016.9   292980082.9
NEW WORLD R-A SH   NWR PW            -193440286.1   705668382.6
NEW WORLD R-A SH   NWRUKK S2         -193440286.1   705668382.6
NEW WORLD R-A SH   NWRUK TQ          -193440286.1   705668382.6
NEW WORLD R-A SH   NWR PZ            -193440286.1   705668382.6
NEW WORLD R-A SH   NW5D L3           -193440286.1   705668382.6
NEW WORLD R-A SH   NWRW B3           -193440286.1   705668382.6
NEW WORLD R-A SH   NWR EO            -193440286.1   705668382.6
NEW WORLD R-A SH   NWR NR            -193440286.1   705668382.6
NEW WORLD R-A SH   NWR BQ            -193440286.1   705668382.6
NEW WORLD R-A SH   NW5D S2           -193440286.1   705668382.6
NEW WORLD R-A SH   NWRW L3           -193440286.1   705668382.6
NEW WORLD R-A SH   NWR QM            -193440286.1   705668382.6
NEW WORLD R-A SH   NWRUKK L3         -193440286.1   705668382.6
NEW WORLD R-A SH   NWRL L3           -193440286.1   705668382.6
NEW WORLD R-A SH   NWR S1            -193440286.1   705668382.6
NEW WORLD R-A SH   NWR LN            -193440286.1   705668382.6
NEW WORLD R-A SH   NWR TQ            -193440286.1   705668382.6
NEW WORLD R-A SH   NWRW S2           -193440286.1   705668382.6
NEW WORLD R-A SH   NWR EU            -193440286.1   705668382.6
NEW WORLD R-A SH   NWRL S2           -193440286.1   705668382.6
NEW WORLD R-A SH   NWR CP            -193440286.1   705668382.6
NEW WORLD R-A SH   NW5D B3           -193440286.1   705668382.6
NEW WORLD R-A SH   NWR IX            -193440286.1   705668382.6
NEW WORLD R-A SH   NW5 GR            -193440286.1   705668382.6
NEW WORLD R-A SH   NWRUKK B3         -193440286.1   705668382.6
NEW WORLD R-A SH   NWR EB            -193440286.1   705668382.6
NEW WORLD R-A SH   NWRL B3           -193440286.1   705668382.6
NEW WORLD R-A SH   NWR1 TQ           -193440286.1   705668382.6
NEW WORLD R-B      0743168D LN       -193440286.1   705668382.6
NEW WORLD R-RTS    NWRP PW           -193440286.1   705668382.6
NEW WORLD R-RTSF   NWRFGBX EU        -193440286.1   705668382.6
NEW WORLD R-RTSF   NWRF LN           -193440286.1   705668382.6
NEW WORLD R-RTSF   NWRFGBX EO        -193440286.1   705668382.6
NEW WORLD R-RTSN   NWRNCZK EO        -193440286.1   705668382.6
NEW WORLD R-RTSN   NWRNGBX EU        -193440286.1   705668382.6
NEW WORLD R-RTSN   NWRN LN           -193440286.1   705668382.6
NEW WORLD R-RTSN   NWRNCZK EU        -193440286.1   705668382.6
NEW WORLD R-RTSN   NWRNGBX EO        -193440286.1   705668382.6
NEW WORLD RESO-A   A37 QM            -250414347.9   647734819.8
NEW WORLD RESO-A   NWRN1PLN EU       -250414347.9   647734819.8
NEW WORLD RESO-A   A37 BQ            -250414347.9   647734819.8
NEW WORLD RESO-A   NWRSI IX          -250414347.9   647734819.8
NEW WORLD RESO-A   A37PLN EU         -250414347.9   647734819.8
NEW WORLD RESO-A   NWRN1USD EU       -250414347.9   647734819.8
NEW WORLD RESO-A   NWRN1 NR          -250414347.9   647734819.8
NEW WORLD RESO-A   A37CZK EO         -250414347.9   647734819.8
NEW WORLD RESO-A   A37GBP EO         -250414347.9   647734819.8
NEW WORLD RESO-A   A37GBX EO         -250414347.9   647734819.8
NEW WORLD RESO-A   NWRN1GBP EO       -250414347.9   647734819.8
NEW WORLD RESO-A   NWN CP            -250414347.9   647734819.8
NEW WORLD RESO-A   NWRN1CZK EU       -250414347.9   647734819.8
NEW WORLD RESO-A   NWRN PZ           -250414347.9   647734819.8
NEW WORLD RESO-A   NWRN1USD EO       -250414347.9   647734819.8
NEW WORLD RESO-A   A37 EU            -250414347.9   647734819.8
NEW WORLD RESO-A   0882467D TQ       -250414347.9   647734819.8
NEW WORLD RESO-A   A37USD EU         -250414347.9   647734819.8
NEW WORLD RESO-A   A37CZK EU         -250414347.9   647734819.8
NEW WORLD RESO-A   NWRN1PLN EO       -250414347.9   647734819.8
NEW WORLD RESO-A   NWRN1 QM          -250414347.9   647734819.8
NEW WORLD RESO-A   A37GBX EU         -250414347.9   647734819.8
NEW WORLD RESO-A   NWRN1 TQ          -250414347.9   647734819.8
NEW WORLD RESO-A   A37 TQ            -250414347.9   647734819.8
NEW WORLD RESO-A   NWCSF US          -250414347.9   647734819.8
NEW WORLD RESO-A   NWRN1 EO          -250414347.9   647734819.8
NEW WORLD RESO-A   A37USD EO         -250414347.9   647734819.8
NEW WORLD RESO-A   NWRN1 EU          -250414347.9   647734819.8
NEW WORLD RESO-A   NWRN1 BQ          -250414347.9   647734819.8
NEW WORLD RESO-A   A37 NR            -250414347.9   647734819.8
NEW WORLD RESO-A   1062172D LN       -250414347.9   647734819.8
NEW WORLD RESO-A   2777648Z LX       -250414347.9   647734819.8
NEW WORLD RESO-A   NWRN1GBX EU       -250414347.9   647734819.8
NEW WORLD RESO-A   A37 EO            -250414347.9   647734819.8
NEW WORLD RESO-A   NWRS IX           -250414347.9   647734819.8
NEW WORLD RESO-A   1083235D GR       -250414347.9   647734819.8
NEW WORLD RESO-A   A37 NQ            -250414347.9   647734819.8
NEW WORLD RESO-A   NWRN1GBX EO       -250414347.9   647734819.8
NEW WORLD RESO-A   A37PLN EO         -250414347.9   647734819.8
NEW WORLD RESO-A   NWRN1CZK EO       -250414347.9   647734819.8
NEW WORLD RESO-B   0746517D NA       -250414347.9   647734819.8
NEW WORLD RESOUR   973960Z NA        -250414347.9   647734819.8
NEW WORLD RESOUR   NWN PW            -250414347.9   647734819.8
NEW WORLD RESOUR   1064273D LN       -193440286.1   705668382.6
NEW WORLD-RTS      NWRSR CP          -193440286.1   705668382.6
NEWCASTLE UNITED   4380361Z LN       -33690958.84   234612813.1
NEWCASTLE UNITED   1060322Z LN       -49091585.54   238073462.4
NEWEN ENTERPRISE   NEP CN              -347363008     314752992
NEXANS COPPER FR   4744809Z FP       -22661844.26   308623822.2
NEXTIRAONE         500526Z FP        -25568491.37     235050215
NIEUWE BORG REAL   3781672Z NA       -1980.869704     208630571
NIZHMASHZAVO-BRD   NMSZ RU           -35825130.99     507871146
NIZHMASHZAVO-BRD   NMSZ* RU          -35825130.99     507871146
NIZHMASHZAVO-PFD   NMSZP* RU         -35825130.99     507871146
NIZHMASHZAVO-PFD   NMSZP RU          -35825130.99     507871146
NIZHMASHZAVOD-BD   NMSZ$ RU          -35825130.99     507871146
NORBAIN GROUP LT   4007676Z LN       -18880913.74   122682534.9
NORDAG AG          DOO1 GR           -482467.0522   144438127.4
NORDAG AG-PFD      DOO3 GR           -482467.0522   144438127.4
NORDAG AG-RTS      DOO8 GR           -482467.0522   144438127.4
NORDENIA INTERNA   NOD GR            -74469671.73   729606340.7
NORDENIA INTL AG   NOD8 GR           -74469671.73   729606340.7
NORDICOM A/S       NRDCC S2          -23092661.41     416012644
NORDICOM A/S       NRDCC B3          -23092661.41     416012644
NORDICOM A/S       NRDCC L3          -23092661.41     416012644
NORDICOM A/S-RTS   NRDCT DC          -23092661.41     416012644
NORDICOM AS        NRDC BY           -23092661.41     416012644
NORDICOM AS        NRDC IX           -23092661.41     416012644
NORDICOM AS        NRDCEUR EO        -23092661.41     416012644
NORDICOM AS        NRDC EO           -23092661.41     416012644
NORDICOM AS        NRDC EU           -23092661.41     416012644
NORDICOM AS        NRDCC EB          -23092661.41     416012644
NORDICOM AS        CEPH DC           -23092661.41     416012644
NORDICOM AS        NRDC DC           -23092661.41     416012644
NORDICOM AS        NRDCEUR EU        -23092661.41     416012644
NORDICOM AS        NRDC TQ           -23092661.41     416012644
NORDICOM AS        NRDC PZ           -23092661.41     416012644
NORDICOM AS-NEW    NORN DC           -23092661.41     416012644
NORDSEE AG         533061Q GR         -8200576.76   194617530.6
NORDSEE GMBH       3988724Z GR       -81591772.37   201788718.4
NORFOLK HOLDINGS   779151Z NA         -192035.398   782945491.9
NORSK STEIN AS     4394889Z NO       -1237127.989   254760725.7
NORTH AMERICAN     NAUHF US            -347363008     314752992
NORTHCLIFFE MEDI   1294954Z LN       -231086140.5   141497063.7
NORTHERN FO-ASSD   NFDA LN           -70166768.88   924680805.3
NORTHERN FOO-NEW   NFDN LN           -70166768.88   924680805.3
NORTHERN FOO-RFD   650060Q LN        -70166768.88   924680805.3
NORTHERN FOODS     NFDS EO           -70166768.88   924680805.3
NORTHERN FOODS     NFDS EU           -70166768.88   924680805.3
NORTHERN FOODS     NFDS BQ           -70166768.88   924680805.3
NORTHERN FOODS     NFDS QM           -70166768.88   924680805.3
NORTHERN FOODS     NFO GK            -70166768.88   924680805.3
NORTHERN FOODS     NFDS IX           -70166768.88   924680805.3
NORTHERN FOODS     NFDS EB           -70166768.88   924680805.3
NORTHERN FOODS     NFDS NR           -70166768.88   924680805.3
NORTHERN FOODS     NFDS VX           -70166768.88   924680805.3
NORTHERN FOODS     NFDSUSD EO        -70166768.88   924680805.3
NORTHERN FOODS     NTFOF US          -70166768.88   924680805.3
NORTHERN FOODS     NFDSGBP EO        -70166768.88   924680805.3
NORTHERN FOODS     NFDS S1           -70166768.88   924680805.3
NORTHERN FOODS     NFDS TQ           -70166768.88   924680805.3
NORTHERN FOODS     NFDS PO           -70166768.88   924680805.3
NORTHERN FOODS     NFDSEUR EO        -70166768.88   924680805.3
NORTHERN FOODS     1168905D GR       -70166768.88   924680805.3
NORTHERN FOODS     NFDSEUR EU        -70166768.88   924680805.3
NORTHERN FOODS     NFDS PZ           -70166768.88   924680805.3
NORTHERN FOODS     NFDS NQ           -70166768.88   924680805.3
NORTHERN FOODS     NFDSUSD EU        -70166768.88   924680805.3
NORTHERN FOODS L   NFDS LN           -70166768.88   924680805.3
NORTHERN FOODS P   NFDR LN           -70166768.88   924680805.3
NORTHLAND RE-RES   0192753D NO         -347363008     314752992
NORTHLAND RE-RES   NRIR NO             -347363008     314752992
NORTHLAND RE-RES   1009610Q NO         -347363008     314752992
NORTHLAND RESOUR   NAUUSD EU           -347363008     314752992
NORTHLAND RESOUR   NPK GR              -347363008     314752992
NORTHLAND RESOUR   NAUNOK EO           -347363008     314752992
NORTHLAND RESOUR   NAUR SS             -347363008     314752992
NORTHLAND RESOUR   NAUEUR EU           -347363008     314752992
NORTHLAND RESOUR   NPK TH              -347363008     314752992
NORTHLAND RESOUR   NAUNOK EU           -347363008     314752992
NORTHLAND RESOUR   NPKD L3             -347363008     314752992
NORTHLAND RESOUR   NAURO L3            -347363008     314752992
NORTHLAND RESOUR   NPKD S2             -347363008     314752992
NORTHLAND RESOUR   NAURO S2            -347363008     314752992
NORTHLAND RESOUR   NPKD B3             -347363008     314752992
NORTHLAND RESOUR   NAURO B3            -347363008     314752992
NORTHLAND RESOUR   NAUR TQ             -347363008     314752992
NORTHLAND RESOUR   NAU EO              -347363008     314752992
NORTHLAND RESOUR   NAU EU              -347363008     314752992
NORTHLAND RESOUR   NBS GR              -347363008     314752992
NORTHLAND RESOUR   NAUEUR EO           -347363008     314752992
NORTHLAND RESOUR   NAUGBX EO           -347363008     314752992
NORTHLAND RESOUR   NAUUSD EO           -347363008     314752992
NORTHLAND RESOUR   NRSRF US            -347363008     314752992
NORTHLAND RESOUR   NAUR PZ             -347363008     314752992
NORTHLAND RESOUR   NAU CN              -347363008     314752992
NORTHLAND RESOUR   NAUR1 TH            -347363008     314752992
NORTHLAND RESOUR   NAUR NO             -347363008     314752992
NORTHLAND RESOUR   NAUR IX             -347363008     314752992
NORTHLAND RESOUR   NAUGBX EU           -347363008     314752992
NORTHLAND RESOUR   NAU BY              -347363008     314752992
NORTHLAND-NEW      NAURR NO            -347363008     314752992
NORWEGIAN -A SRS   NORENOK EO          -107236815   485303327.5
NORWEGIAN -A SRS   NORENOK EU          -107236815   485303327.5
NORWEGIAN -A SRS   NORE NO             -107236815   485303327.5
NORWEGIAN ENERGY   NOR IX              -107236815   485303327.5
NORWEGIAN ENERGY   NOR1GBP EO          -107236815   485303327.5
NORWEGIAN ENERGY   NRWEF US            -107236815   485303327.5
NORWEGIAN ENERGY   NOR1EUR EO          -107236815   485303327.5
NORWEGIAN ENERGY   NORO L3             -107236815   485303327.5
NORWEGIAN ENERGY   NOR1 EO             -107236815   485303327.5
NORWEGIAN ENERGY   NORO S2             -107236815   485303327.5
NORWEGIAN ENERGY   NORN PZ             -107236815   485303327.5
NORWEGIAN ENERGY   NORC NO             -107236815   485303327.5
NORWEGIAN ENERGY   NOR1USD EO          -107236815   485303327.5
NORWEGIAN ENERGY   CJ1 GR              -107236815   485303327.5
NORWEGIAN ENERGY   NOR1USD EU          -107236815   485303327.5
NORWEGIAN ENERGY   1250511D NO         -107236815   485303327.5
NORWEGIAN ENERGY   NOR1EUR EU          -107236815   485303327.5
NORWEGIAN ENERGY   NORECO NO           -107236815   485303327.5
NORWEGIAN ENERGY   NOR TQ              -107236815   485303327.5
NORWEGIAN ENERGY   NORO B3             -107236815   485303327.5
NORWEGIAN ENERGY   NOR SS              -107236815   485303327.5
NORWEGIAN ENERGY   NOR1 BY             -107236815   485303327.5
NORWEGIAN ENERGY   NOR NO              -107236815   485303327.5
NORWEGIAN ENERGY   NOR1 EU             -107236815   485303327.5
NOVAR ED&S LTD     1286578Z LN       -34675951.17   139038437.9
NOVELIS FOIL FRA   4678593Z FP       -49448141.87   103051804.1
NOVOSIBIRSK-BRD    NVMZ RU           -34853954.29   109085860.9
NOVOSIBIRSK-BRD    NVMZ$ RU          -34853954.29   109085860.9
NOVOSIBIRSK-BRD    NVMZ* RU          -34853954.29   109085860.9
NPIL HOLDCO LTD    3641071Z LN       -174439226.7   865153864.4
NPOWER GAS LTD     1689816Z LN       -343438041.9   469041453.8
NRJ 12             4681713Z FP       -7657615.259   104653825.6
NTT COM SECURITY   AAGN S1           -30518620.96   237457667.5
NTT COM SECURITY   AAGN EO           -30518620.96   237457667.5
NTT COM SECURITY   AAGN TQ           -30518620.96   237457667.5
NTT COM SECURITY   AAGN GR           -30518620.96   237457667.5
NTT COM SECURITY   AAGND L3          -30518620.96   237457667.5
NTT COM SECURITY   AAGN QT           -30518620.96   237457667.5
NTT COM SECURITY   AAGND S1          -30518620.96   237457667.5
NTT COM SECURITY   AAGND B3          -30518620.96   237457667.5
NTT COM SECURITY   AAGN EU           -30518620.96   237457667.5
NTT COM SECURITY   AAGND S2          -30518620.96   237457667.5
NUERNB HYPO-RTS    NUE8 GR            -2104112446      5.86E+11
NUERNB HYPOTHEK    0478131D GR        -2104112446      5.86E+11
NUTRIBIO SAS       4508451Z FP       -1696894.018   126986380.2
NYESA VALORES CO   BES SM              -214694075   627801852.2
NYESA VALORES CO   BES EU              -214694075   627801852.2
NYESA VALORES CO   NYE EU              -214694075   627801852.2
NYESA VALORES CO   NYE TQ              -214694075   627801852.2
NYESA VALORES CO   7NY GR              -214694075   627801852.2
NYESA VALORES CO   NYE SM              -214694075   627801852.2
NYESA VALORES CO   NYE EO              -214694075   627801852.2
NYESA VALORES CO   BES EO              -214694075   627801852.2
NYESA VALORES CO   BES TQ              -214694075   627801852.2
NYESA VALORES CO   BESS PZ             -214694075   627801852.2
O'KANE & DEVINE    3803556Z LN       -4358107.011   464658271.9
O-I MANUFACTURIN   1320610Z LN       -30670292.37   112801207.1
OAO MECHEL         SGML* RU            -221372976   11383539712
OAO MECHEL         SGML RU             -221372976   11383539712
OBTEC              OBTEC DC          -11519017.57   141247923.9
OBTEC              OBT DC            -11519017.57   141247923.9
OBTEC-NEW SHARES   OBTECN DC         -11519017.57   141247923.9
OBTEC-OLD          OBTN DC           -11519017.57   141247923.9
ODEON & UCI CINE   3489372Z LN       -154729256.4    1093971473
ODESSA OIL REFIN   ONPZ UZ           -421646489.4   125957890.9
OESIA NETWORKS S   4369433Z SM       -23680696.85   179103096.4
OKI EUROPE LTD     3912252Z LN       -391269747.1   204284621.3
OLCESE SPA         O IM              -12846689.89   179691572.8
OLCESE SPA-RTS     OAA IM            -12846689.89   179691572.8
OLCESE VENEZIANO   OLVE IM           -12846689.89   179691572.8
OLTCHIM RM VALCE   OLTCF US          -750833972.5   397742354.3
OLTCHIM SA RM VA   OLT RO            -750833972.5   397742354.3
OLTCHIM SA RM VA   OLTEUR EO         -750833972.5   397742354.3
OLTCHIM SA RM VA   OLT PZ            -750833972.5   397742354.3
OLTCHIM SA RM VA   OLT EU            -750833972.5   397742354.3
OLTCHIM SA RM VA   OLTF L3           -750833972.5   397742354.3
OLTCHIM SA RM VA   OLTF B3           -750833972.5   397742354.3
OLTCHIM SA RM VA   OLT EO            -750833972.5   397742354.3
OLTCHIM SA RM VA   OLTF S2           -750833972.5   397742354.3
OLTCHIM SA RM VA   OLTEUR EU         -750833972.5   397742354.3
OMRON EUROPE BV/   4489339Z NA       -360581.2603   627156346.6
ONNECT GROUP-RTS   CNCNGBX EU        -69818642.47   499012577.7
ONNECT GROUP-RTS   CNCNGBX EO        -69818642.47   499012577.7
ONNECT GROUP-RTS   CNCN LN           -69818642.47   499012577.7
OPTIMUM CARE LTD   3951796Z LN       -33380376.38   106846682.7
ORACLE FRANCE SA   4525191Z FP       -21054449.83   742726569.4
ORANGE LTD         951641Q LN        -593935104.1    2902299502
ORANGE PLC         ORNGF US          -593935104.1    2902299502
ORANGE PLC         1460Q GR          -593935104.1    2902299502
ORANGE PLC-ADR     ORNGY US          -593935104.1    2902299502
ORANGE PLC-ADR     ORA$ LN           -593935104.1    2902299502
ORANGE PLC-ADR     0212530D GR       -593935104.1    2902299502
ORBIS PLC          OBS PZ              -4168493.8   127701679.5
ORBIS PLC          RLP GR              -4168493.8   127701679.5
ORBIS PLC          ORBSF US            -4168493.8   127701679.5
ORBIS PLC          OBS LN              -4168493.8   127701679.5
ORBIS PLC          OBS IX              -4168493.8   127701679.5
ORBIS PLC          OBG PO              -4168493.8   127701679.5
ORBIS PLC          OBS PO              -4168493.8   127701679.5
OROSDI             OROSP S2          -51388258.12   181261665.1
OROSDI             OROS FP           -51388258.12   181261665.1
OROSDI             OROS IX           -51388258.12   181261665.1
OROSDI             OROS EB           -51388258.12   181261665.1
OROSDI             OROS S1           -51388258.12   181261665.1
OROSDI             OROS EU           -51388258.12   181261665.1
OROSDI             OROSP L3          -51388258.12   181261665.1
OROSDI             OROS PZ           -51388258.12   181261665.1
OROSDI             OROSP B3          -51388258.12   181261665.1
OROSDI             OROS EO           -51388258.12   181261665.1
OROSDI-BACK        ORBA FP           -51388258.12   181261665.1
OROSDI-BACK        BACK IX           -51388258.12   181261665.1
OROSDI-RTS         ORODS FP          -51388258.12   181261665.1
OUTDOOR GROUP LT   1318338Z LN       -31904183.63   118196315.8
OXEA SARL          3682535Z LX       -24721940.15   956415604.2
OXEA SARL          3682535Z GR       -24721940.15   956415604.2
PA RE-B SHS-NEW1   0697596D SS       -103717946.2   456538442.2
PA RE-B SHS-NEW2   0697597D SS       -103717946.2   456538442.2
PA RESOURC-B SHS   0674616D SS       -103717946.2   456538442.2
PA RESOURCE-B SH   0702744D SS       -103717946.2   456538442.2
PA RESOURCES       PAR QM            -103717946.2   456538442.2
PA RESOURCES       PARGBX EO         -103717946.2   456538442.2
PA RESOURCES       PARNOK BY         -103717946.2   456538442.2
PA RESOURCES       PAR EB            -103717946.2   456538442.2
PA RESOURCES       PAREUR EO         -103717946.2   456538442.2
PA RESOURCES       PAR IX            -103717946.2   456538442.2
PA RESOURCES       PARGBX EU         -103717946.2   456538442.2
PA RESOURCES       PARNOK EB         -103717946.2   456538442.2
PA RESOURCES       PAR BQ            -103717946.2   456538442.2
PA RESOURCES       0862433D PZ       -103717946.2   456538442.2
PA RESOURCES       PAR TQ            -103717946.2   456538442.2
PA RESOURCES       PAR1 S1           -103717946.2   456538442.2
PA RESOURCES       PARNOK EU         -103717946.2   456538442.2
PA RESOURCES       PARNOK EO         -103717946.2   456538442.2
PA RESOURCES       PARS B3           -103717946.2   456538442.2
PA RESOURCES       PAR EU            -103717946.2   456538442.2
PA RESOURCES       PAREUR EU         -103717946.2   456538442.2
PA RESOURCES       PARS S2           -103717946.2   456538442.2
PA RESOURCES       PARS NQ           -103717946.2   456538442.2
PA RESOURCES       PAR NR            -103717946.2   456538442.2
PA RESOURCES       PRSAF US          -103717946.2   456538442.2
PA RESOURCES       P3RA GR           -103717946.2   456538442.2
PA RESOURCES       P3R GR            -103717946.2   456538442.2
PA RESOURCES       PARS IX           -103717946.2   456538442.2
PA RESOURCES       PAR BY            -103717946.2   456538442.2
PA RESOURCES       PAR EO            -103717946.2   456538442.2
PA RESOURCES       PAR SS            -103717946.2   456538442.2
PA RESOURCES       PARS L3           -103717946.2   456538442.2
PA RESOURCES       PARNOK SS         -103717946.2   456538442.2
PA RESOURCES       PAR NO            -103717946.2   456538442.2
PA RESOURCES A-A   1223616D SS       -103717946.2   456538442.2
PA RESOURCES AB    PARE SS           -103717946.2   456538442.2
PA RESOURCES AB    3349079Q IX       -103717946.2   456538442.2
PA RESOURCES-B     PAREB SS          -103717946.2   456538442.2
PA RESOURCES-BTA   PARBTA SS         -103717946.2   456538442.2
PA RESOURCES-NEW   PARBTAA SS        -103717946.2   456538442.2
PA RESOURCES-NEW   PARSEKBT SS       -103717946.2   456538442.2
PA RESOURCES-NEW   PARBTAA BY        -103717946.2   456538442.2
PA RESOURCES-NEW   3326863Z SS       -103717946.2   456538442.2
PA RESOURCES-NEW   3133378Z SS       -103717946.2   456538442.2
PA RESOURCES-RTS   PARUR SS          -103717946.2   456538442.2
PA RESOURCES-RTS   PARUR NO          -103717946.2   456538442.2
PA RESOURCES-RTS   PARTRA SS         -103717946.2   456538442.2
PA RESOURCES-RTS   0675179D SS       -103717946.2   456538442.2
PA RESOURCES-RTS   PARTRB SS         -103717946.2   456538442.2
PA RESOURCES-RTS   PARTRB BY         -103717946.2   456538442.2
PA RESOURCES-RTS   PRZSF US          -103717946.2   456538442.2
PA RESOURCES-RTS   PART1 BY          -103717946.2   456538442.2
PA RESOURCES-RTS   3128903Z SS       -103717946.2   456538442.2
PA RESOURCES-RTS   PARTRA BY         -103717946.2   456538442.2
PA RESOURCES-RTS   PART NO           -103717946.2   456538442.2
PA RESOURCES-RTS   PARTR SS          -103717946.2   456538442.2
PA RESOURCES-RTS   PARSEKTR SS       -103717946.2   456538442.2
PAGESJAUNES GRP    PAJ FP             -1736520389   862279100.1
PAGESJAUNES GRP    PAJ NQ             -1736520389   862279100.1
PAGESJAUNES GRP    PAJP IX            -1736520389   862279100.1
PAGESJAUNES GRP    PAJ LI             -1736520389   862279100.1
PAGESJAUNES GRP    PGJUF US           -1736520389   862279100.1
PAGESJAUNES GRP    PAJ PZ             -1736520389   862279100.1
PAGESJAUNES GRP    PAJ VX             -1736520389   862279100.1
PANAXIA AB         PAXAEUR EO        -13977243.64   102375892.6
PANAXIA AB         PAXA BY           -13977243.64   102375892.6
PANAXIA AB         PAXA EU           -13977243.64   102375892.6
PANAXIA AB         PAXAEUR EU        -13977243.64   102375892.6
PANAXIA AB         PAXA PZ           -13977243.64   102375892.6
PANAXIA AB         PAXA EO           -13977243.64   102375892.6
PANAXIA AB         PAXA SS           -13977243.64   102375892.6
PANAXIA AB-NEW     PAXABT BY         -13977243.64   102375892.6
PANAXIA AB-NEW     PAXABT SS         -13977243.64   102375892.6
PANAXIA AB-RTS     PAXATR BY         -13977243.64   102375892.6
PANAXIA AB-RTS     PAXATR SS         -13977243.64   102375892.6
PANAXIA-NEW        8292193Q SS       -13977243.64   102375892.6
PANAXIA-RTS        8292189Q SS       -13977243.64   102375892.6
PARAGON HOTELS L   4452665Z LN       -7888444.897     116666914
PARAGON MORTGAGE   2002551Z LN       -750891.1819   737656750.8
PARK FOOD GROUP    PKFD LN           -16392542.92     317271192
PARK GROUP PLC     PKG LN            -16392542.92     317271192
PARK GROUP PLC     PKGL B3           -16392542.92     317271192
PARK GROUP PLC     PKG PZ            -16392542.92     317271192
PARK GROUP PLC     PKG VX            -16392542.92     317271192
PARK GROUP PLC     PKG PO            -16392542.92     317271192
PARK GROUP PLC     PKG EU            -16392542.92     317271192
PARK GROUP PLC     PRKG IX           -16392542.92     317271192
PARK GROUP PLC     PRKGF US          -16392542.92     317271192
PARK GROUP PLC     PKGGBP EO         -16392542.92     317271192
PARK GROUP PLC     PKGL L3           -16392542.92     317271192
PARK GROUP PLC     PKGL S2           -16392542.92     317271192
PARK GROUP PLC     PKG EO            -16392542.92     317271192
PARMALAT FINA-RT   PRFR AV           -18420075679    4120839723
PARMALAT FINANZI   PARAF US          -18420075679    4120839723
PARMALAT FINANZI   FICN AV           -18420075679    4120839723
PARMALAT FINANZI   PRF IM            -18420075679    4120839723
PARMALAT FINANZI   PMT LI            -18420075679    4120839723
PARMALAT FINANZI   PMLFF US          -18420075679    4120839723
PARMALAT FINANZI   PAF GR            -18420075679    4120839723
PARMALAT FINANZI   1085755D IM       -18420075679    4120839723
PARMALAT FINANZI   PRFI VX           -18420075679    4120839723
PARQUES REUN-RTS   PQR/D SM          -36793493.63    2314365176
PARQUES REUNIDOS   PQR GR            -36793493.63    2314365176
PARQUES REUNIDOS   PQR SM            -36793493.63    2314365176
PATIENTLINE PLC    2928903Q EU       -54678675.23   124951423.6
PATIENTLINE PLC    PTL PZ            -54678675.23   124951423.6
PATIENTLINE PLC    PTL IX            -54678675.23   124951423.6
PATIENTLINE PLC    2928907Q EO       -54678675.23   124951423.6
PATIENTLINE PLC    2928899Q EO       -54678675.23   124951423.6
PATIENTLINE PLC    PTL PO            -54678675.23   124951423.6
PATIENTLINE PLC    PTL VX            -54678675.23   124951423.6
PATIENTLINE PLC    PTL LN            -54678675.23   124951423.6
PAYZONE PLC        PAYZ EO           -138034037.7     510021617
PAYZONE PLC        PAYZ PG           -138034037.7     510021617
PAYZONE PLC        PAYZ IX           -138034037.7     510021617
PAYZONE PLC        PAYZ EU           -138034037.7     510021617
PAYZONE PLC        4P6 GR            -138034037.7     510021617
PAYZONE PLC        PAYZ LN           -138034037.7     510021617
PAYZONE PLC        PAYZ PZ           -138034037.7     510021617
PBG                PBGW B3           -227616629.7   658773629.9
PBG                PBG PW            -227616629.7   658773629.9
PBG                PBGW L3           -227616629.7   658773629.9
PBG                PBG1EUR EO        -227616629.7   658773629.9
PBG                PBG1 EU           -227616629.7   658773629.9
PBG                PBG PZ            -227616629.7   658773629.9
PBG                PBGW S2           -227616629.7   658773629.9
PBG                PBG1EUR EU        -227616629.7   658773629.9
PBG                PBG LI            -227616629.7   658773629.9
PBG                PBG1 EO           -227616629.7   658773629.9
PBG                PBG1USD EO        -227616629.7   658773629.9
PBG                PBGZF US          -227616629.7   658773629.9
PBG                PBG1USD EU        -227616629.7   658773629.9
PBG S.A.           887076Q PW        -227616629.7   658773629.9
PBG SA             PBGG IX           -227616629.7   658773629.9
PBG SA - ADR       PBGZY US          -227616629.7   658773629.9
PBG SA - CERT A    899644Z PW        -227616629.7   658773629.9
PBG SA -CERT A     PBGA PW           -227616629.7   658773629.9
PBG SA-A           0122073D PW       -227616629.7   658773629.9
PBG SA-ALLOT CE    903059Q PW        -227616629.7   658773629.9
PBG SA-ALLOT CER   685728Q PW        -227616629.7   658773629.9
PBG SA-RTS         PBGP PW           -227616629.7   658773629.9
PD PORT SERVICES   1407442Z LN       -97346785.71   148595363.3
PD PORTCO LTD      3233785Z LN         -286512126    1076498649
PEGASUS PUB-RTS    PEGASR GA         -97784972.57   143402304.5
PEGASUS PUBLISHI   PEGAS GA          -97784972.57   143402304.5
PEGASUS PUBLISHI   JE5 GR            -97784972.57   143402304.5
PEGASUS PUBLISHI   PEGA1 EU          -97784972.57   143402304.5
PEGASUS PUBLISHI   PEGASY L3         -97784972.57   143402304.5
PEGASUS PUBLISHI   PEGA1 EO          -97784972.57   143402304.5
PEGASUS PUBLISHI   PGPBF US          -97784972.57   143402304.5
PEGASUS PUBLISHI   PEGASY S2         -97784972.57   143402304.5
PEGASUS PUBLISHI   PEGASY B3         -97784972.57   143402304.5
PEGASUS PUBLISHI   PEGAS PZ          -97784972.57   143402304.5
PEGUFORM IBERICA   4512107Z SM       -25951900.55   189870518.2
PENOPLEX-FINANS    PNPF RU           -776342.4125     143683074
PERSTORP HOLDING   3464123Z SS       -134615381.3    1819743529
PESCANOVA          PNV GR             -1962474395    3604665666
PESCANOVA          PVA TQ             -1962474395    3604665666
PESCANOVA          PVA S1             -1962474395    3604665666
PESCANOVA          PVA EU             -1962474395    3604665666
PESCANOVA          PVA EO             -1962474395    3604665666
PESCANOVA          PVA EB             -1962474395    3604665666
PESCANOVA          PVA IX             -1962474395    3604665666
PESCANOVA          PVA SM             -1962474395    3604665666
PESCANOVA          PVA PZ             -1962474395    3604665666
PESCANOVA          PVA QM             -1962474395    3604665666
PESCANOVA          PVA NR             -1962474395    3604665666
PESCANOVA          PNVAF US           -1962474395    3604665666
PESCANOVA SA       PCV/P SM           -1962474395    3604665666
PESCANOVA SA       PVAE S2            -1962474395    3604665666
PESCANOVA SA       PVAE B3            -1962474395    3604665666
PESCANOVA SA       0572074D SM        -1962474395    3604665666
PESCANOVA SA       PVAE L3            -1962474395    3604665666
PESCANOVA SA-RTS   3414736Q SM        -1962474395    3604665666
PESCANOVA SA-RTS   0561516D SM        -1962474395    3604665666
PESCANOVA SA-RTS   PVA/D SM           -1962474395    3604665666
PESCANOVA-OLD RT   1004Q SM           -1962474395    3604665666
PETRO GEO-SERV     265143Q NO        -18066142.02   399710319.4
PETRO GEO-SERV     PGS VX            -18066142.02   399710319.4
PETRO GEO-SERV     PGS GR            -18066142.02   399710319.4
PETRO GEO-SERV-N   PGSN NO           -18066142.02   399710319.4
PETRO GEO-SV-ADR   PGSA GR           -18066142.02   399710319.4
PETRO GEO-SV-ADR   PGOGY US          -18066142.02   399710319.4
PETROJACK AS       JACK EU              -54932000     191586000
PETROJACK AS       JACK PZ              -54932000     191586000
PETROJACK AS       JACK BY              -54932000     191586000
PETROJACK AS       JACKEUR EU           -54932000     191586000
PETROJACK AS       P3J GR               -54932000     191586000
PETROJACK AS       JACKEUR EO           -54932000     191586000
PETROJACK AS       JACO IX              -54932000     191586000
PETROJACK AS       POJKF US             -54932000     191586000
PETROJACK AS       JACK NO              -54932000     191586000
PETROJACK AS       JACK EO              -54932000     191586000
PETROMARINE SA     3652071Z FP       -23734181.65   320658299.5
PETZET - PFD-RTS   PETZPD GA         -110809481.9   206423169.8
PETZETAKIS - RTS   PETZKD GA         -110809481.9   206423169.8
PETZETAKIS-AUC     PETZKE GA         -110809481.9   206423169.8
PETZETAKIS-PFD     PETZP GA          -110809481.9   206423169.8
PETZETAKIS-PFD     PTZ3 GR           -110809481.9   206423169.8
PEUGEOT CITROEN    3652807Z FP        -4551892651   19003426706
PEUGEOT CITROEN    1974702Z LN       -79437283.13   750487827.5
PEUGEOT CITROEN    3637183Z FP       -387705605.4   308658679.1
PHILIPS GMBH       2645Z GR            -967234526    2127723302
PHS GROUP HOLDIN   3173182Z LN       -451952499.8    1982894328
PLACES FOR PEOPL   1914158Z LN       -89782697.51   596233572.7
PLANES E INVERSI   3795524Z SM       -167827051.7   107554336.1
PLANNED MAINTENA   1344714Z LN       -171366986.8   101450183.9
PLANTASJEN NORGE   4398073Z NO       -940365.3882   110815351.7
POST OFFICE LTD    1542650Z LN       -196775599.5    1694809196
POSTNL NV          PNL2GBP EO        -713900022.5    2997170017
POSTNL NV          PNLA B3           -713900022.5    2997170017
POSTNL NV          TNTFFN L3         -713900022.5    2997170017
POSTNL NV          PNL2USD EO        -713900022.5    2997170017
POSTNL NV          PNL1 S1           -713900022.5    2997170017
POSTNL NV          PNL2CHF EO        -713900022.5    2997170017
POSTNL NV          PNLA S2           -713900022.5    2997170017
POSTNL NV          PNL BQ            -713900022.5    2997170017
POSTNL NV          PNL QM            -713900022.5    2997170017
POSTNL NV          PNLA L3           -713900022.5    2997170017
POSTNL NV          PNL2PLN EU        -713900022.5    2997170017
POSTNL NV          PNL MT            -713900022.5    2997170017
POSTNL NV          PNL QX            -713900022.5    2997170017
POSTNL NV          PNL2PLN EO        -713900022.5    2997170017
POSTNL NV          PNL2NOK EO        -713900022.5    2997170017
POSTNL NV          PNL GK            -713900022.5    2997170017
POSTNL NV          PNL2USD EU        -713900022.5    2997170017
POSTNL NV          PNL1 IX           -713900022.5    2997170017
POSTNL NV          PNL2CHF EU        -713900022.5    2997170017
POSTNL NV          TNTFF US          -713900022.5    2997170017
POSTNL NV          PNL TQ            -713900022.5    2997170017
POSTNL NV          PNL2 EO           -713900022.5    2997170017
POSTNL NV          TNTC TH           -713900022.5    2997170017
POSTNL NV          PNL2GBX EO        -713900022.5    2997170017
POSTNL NV          TNTC GR           -713900022.5    2997170017
POSTNL NV          PNL NA            -713900022.5    2997170017
POSTNL NV          TNT LI            -713900022.5    2997170017
POSTNL NV          TNTFFN B3         -713900022.5    2997170017
POSTNL NV          PNL2NOK EU        -713900022.5    2997170017
POSTNL NV          PNL2GBX EU        -713900022.5    2997170017
POSTNL NV          TNTC QT           -713900022.5    2997170017
POSTNL NV          TNT PZ            -713900022.5    2997170017
POSTNL NV          PNL2AUD EU        -713900022.5    2997170017
POSTNL NV          PNL EB            -713900022.5    2997170017
POSTNL NV          PNL2 EU           -713900022.5    2997170017
POSTNL NV          PNL SW            -713900022.5    2997170017
POSTNL NV          PNL2AUD EO        -713900022.5    2997170017
POSTNL NV-ADR      PNLYY US          -713900022.5    2997170017
POSTNL NV-ADR      TNTTY US          -713900022.5    2997170017
POWER LEISURE BO   1855610Z LN       -68610434.68   204457598.3
POWERCORP INTERN   4449033Z LN       -9367275.229   129789167.8
PPG METRO 500 LT   2224564Z LN       -15545472.43   116336000.6
PRAMAC SPA         PRA2 EU           -87225984.26   314937083.3
PRAMAC SPA         PRAM IX           -87225984.26   314937083.3
PRAMAC SPA         PRA IM            -87225984.26   314937083.3
PRAMAC SPA         PRA2 EO           -87225984.26   314937083.3
PRAMAC SPA         6PA GR            -87225984.26   314937083.3
PRAMAC SPA         PRAM PZ           -87225984.26   314937083.3
PREMIER PROPERTY   4006740Z LN       -383762892.9   196967668.2
PRESTBURY HOTELS   397501Z LN        -140719863.3   732561072.1
PRESTBURY WENTWO   3814856Z LN       -113574624.2     682578779
PRIMETEL PLC       PTLY B3            -2050531.93   101722361.3
PRIMETEL PLC       PTL EU             -2050531.93   101722361.3
PRIMETEL PLC       PTLY S2            -2050531.93   101722361.3
PRIMETEL PLC       PTL CY             -2050531.93   101722361.3
PRIMETEL PLC       PTL EO             -2050531.93   101722361.3
PRIMETEL PLC       PTLY L3            -2050531.93   101722361.3
PRISA              PRS NR            -780193119.9    6162139632
PRISA              PRS2 VX           -780193119.9    6162139632
PRISA              0557149D LN       -780193119.9    6162139632
PRISA - A          PRSUSD EO         -780193119.9    6162139632
PRISA - A          PRS2 IX           -780193119.9    6162139632
PRISA - A          PRS1 EB           -780193119.9    6162139632
PRISA - A          PRS1 S1           -780193119.9    6162139632
PRISA - A          PRS SM            -780193119.9    6162139632
PRISA - A          PRSS PZ           -780193119.9    6162139632
PRISA - A          PZ4 GR            -780193119.9    6162139632
PRISA - A          PRSGBX EU         -780193119.9    6162139632
PRISA - A          PRSGBP EO         -780193119.9    6162139632
PRISA - A          GPOPF US          -780193119.9    6162139632
PRISA - A          PRSUSD EU         -780193119.9    6162139632
PRISA - A          PRS TQ            -780193119.9    6162139632
PRISA - A          PRSE L3           -780193119.9    6162139632
PRISA - A          PRS EO            -780193119.9    6162139632
PRISA - A          PRSE S1           -780193119.9    6162139632
PRISA - A          PRSE B3           -780193119.9    6162139632
PRISA - A          PRSE S2           -780193119.9    6162139632
PRISA - A          PRS EU            -780193119.9    6162139632
PRISA - A          PRSGBX EO         -780193119.9    6162139632
PRISA - B          PRS/P SM          -780193119.9    6162139632
PRISA - B          PRSP EB           -780193119.9    6162139632
PRISA - B          PRSP IX           -780193119.9    6162139632
PRISA - B          PRS/P EO          -780193119.9    6162139632
PRISA - B          PRS/P TQ          -780193119.9    6162139632
PRISA A-ADR        PRISY US          -780193119.9    6162139632
PRISA A-ADR        PRIS US           -780193119.9    6162139632
PRISA B-ADR        PRIS/B US         -780193119.9    6162139632
PRISA B-RTS        PRS/EEUR EU       -780193119.9    6162139632
PRISA B-RTS        PRS/EEUR EO       -780193119.9    6162139632
PRISA B-RTS        PRS/E SM          -780193119.9    6162139632
PRISA-A RTS        PRSD TQ           -780193119.9    6162139632
PRISA-A RTS        PRS/DEUR EU       -780193119.9    6162139632
PRISA-A RTS        PRS/DEUR EO       -780193119.9    6162139632
PRISA-A RTS        PRS/D SM          -780193119.9    6162139632
PRISA-UNSP ADR     GPOPY US          -780193119.9    6162139632
PRITCHARD GROUP    3805716Z LN       -40198600.41   187982923.5
PROCTER & GAMBLE   4525303Z FP       -65885750.72   335937615.8
PRODRIVE HOLDING   3776836Z NA       -286440.2865   111639311.2
PROMOTORA DE INF   0852003D SM       -780193119.9    6162139632
PROMOTORA DE INF   1003328D SM       -780193119.9    6162139632
PROMOTORA DE-ADR   PRIS-W US         -780193119.9    6162139632
PROMOTORA DE-ADR   PRIS/B-W US       -780193119.9    6162139632
PROMOTORA DE-ADR   PTRSV US          -780193119.9    6162139632
PROMOTORA DE-NEW   0096859D SM       -780193119.9    6162139632
PROMTRACTOR-FINA   PTRF RU           -57517044.18     208661031
PROSTRAKAN GROUP   PKNGF US          -9666420.197   134082602.7
PROSTRAKAN GROUP   PSK VX            -9666420.197   134082602.7
PROSTRAKAN GROUP   PSK PO            -9666420.197   134082602.7
PROSTRAKAN GROUP   PSK PZ            -9666420.197   134082602.7
PROSTRAKAN GROUP   PSK IX            -9666420.197   134082602.7
PROSTRAKAN GROUP   PSKEUR EU         -9666420.197   134082602.7
PROSTRAKAN GROUP   PSK EU            -9666420.197   134082602.7
PROSTRAKAN GROUP   PSKEUR EO         -9666420.197   134082602.7
PROSTRAKAN GROUP   PSK S1            -9666420.197   134082602.7
PROSTRAKAN GROUP   PSK LN            -9666420.197   134082602.7
PROSTRAKAN GROUP   PSKGBP EO         -9666420.197   134082602.7
PROSTRAKAN GROUP   PSK EO            -9666420.197   134082602.7
PULLMANTUR SA      301590Z SM        -120068945.6   200674891.5
Q-PARK LTD         1471762Z LN        -34604975.8   162938616.9
QMH LTD            QMOT LN           -39143219.67   831590393.1
QPR HOLDINGS LTD   LFT LN            -193935862.6   120047585.7
QUANTUM PHARMACE   QPL B3            -6377862.543   123809536.5
QUANTUM PHARMACE   QPL L3            -6377862.543   123809536.5
QUANTUM PHARMACE   0265252D LN       -6377862.543   123809536.5
QUANTUM PHARMACE   QP/GBX EO         -6377862.543   123809536.5
QUANTUM PHARMACE   QP/EUR EO         -6377862.543   123809536.5
QUANTUM PHARMACE   QP/EUR EU         -6377862.543   123809536.5
QUANTUM PHARMACE   QP/ LN            -6377862.543   123809536.5
QUANTUM PHARMACE   0QT GR            -6377862.543   123809536.5
QUANTUM PHARMACE   QP/GBX EU         -6377862.543   123809536.5
QUEENS MOAT HSES   QMTHF US          -39143219.67   831590393.1
QUINN BUILDING P   3949900Z LN       -51051442.15   243405907.6
QUINN GROUP LTD    166771Z ID        -228834929.2    2504377123
R&R ICE CREAM LT   3624280Z LN       -251926110.3    1642215376
RADIO E TELEVISA   1227Z PL          -109978276.6   477215725.6
RADIO KORASS-RTS   KORAR GA          -100972173.9   244951680.3
RADIO KORASSI-RT   KORAD GA          -100972173.9   244951680.3
RADIO KORASSIDIS   RAKOF US          -100972173.9   244951680.3
RADIO KORASSIDIS   RKC GR            -100972173.9   244951680.3
RADIO KORASSIDIS   KORAEUR EU        -100972173.9   244951680.3
RADIO KORASSIDIS   KORA GA           -100972173.9   244951680.3
RADIO KORASSIDIS   KORAEUR EO        -100972173.9   244951680.3
RAG ABWICKL-REG    RSTHF US          -1744186.284   217783877.8
RAG ABWICKL-REG    ROS GR            -1744186.284   217783877.8
RAG ABWICKL-REG    ROSG PZ           -1744186.284   217783877.8
RAG ABWICKL-REG    ROS1 EU           -1744186.284   217783877.8
RAG ABWICKL-REG    ROS S1            -1744186.284   217783877.8
RAG ABWICKL-REG    ROS1 EO           -1744186.284   217783877.8
RAMBO A LTD        4501843Z LN        -2076739509   891693401.1
RANDSTAD EMPLOYM   1585810Z LN       -33905632.17   105871649.3
RBS MEZZANINE LT   2198564Z LN       -111641535.2   344709233.7
RDB SPA            RDBI IX           -143727976.4   142633893.2
RDB SPA            RDB IM            -143727976.4   142633893.2
RDB SPA            RDB TQ            -143727976.4   142633893.2
RDB SPA            AZN GR            -143727976.4   142633893.2
RDB SPA            RDB PZ            -143727976.4   142633893.2
RDB SPA            RDB BQ            -143727976.4   142633893.2
RDB SPA            RDB EO            -143727976.4   142633893.2
RDB SPA            RDB EU            -143727976.4   142633893.2
REAL ESTATE OP-O   REO EU             -1109587250    1668412128
REAL ESTATE OP-O   REOGBP EO          -1109587250    1668412128
REAL ESTATE OP-O   REO LN             -1109587250    1668412128
REAL ESTATE OP-O   REO EO             -1109587250    1668412128
REAL ESTATE OP-O   REO VX             -1109587250    1668412128
REAL ESTATE OP-O   REO ID             -1109587250    1668412128
REAL ESTATE OP-O   REO PZ             -1109587250    1668412128
REAL ESTATE OP-O   REO IX             -1109587250    1668412128
REAL ESTATE OP-O   REA GR             -1109587250    1668412128
REAL ZARAGOZA SA   4285533Z SM       -5133826.629   154809006.4
REDE FERROVIARIA   1250Z PL           -2728365683    7426061504
REGARD HOLDINGS    4157517Z LN        -9685751.94   141817579.3
REGUS LTD          273187Q LN        -46111832.15     367181111
REGUS PLC          2296Z LN          -46111832.15     367181111
REGUS PLC          273195Q VX        -46111832.15     367181111
REGUS PLC          REGSF US          -46111832.15     367181111
REGUS PLC          RGU GR            -46111832.15     367181111
REGUS PLC-ADS      REGSV US          -46111832.15     367181111
REGUS PLC-ADS      RGUA GR           -46111832.15     367181111
REGUS PLC-ADS      REGS US           -46111832.15     367181111
REGUS PLC-ADS      REGSY US          -46111832.15     367181111
REPSOL POLIMEROS   3637351Z PL       -295866414.2   385214857.4
RETAIL GROUP       RTGR UZ           -23003278.31   253608504.1
REXAM BEVERAGE C   1120903Z LN       -22213349.38   126325689.5
REYAL URBIS SA     REY EB             -3738797123    1628405893
REYAL URBIS SA     REYU PZ            -3738797123    1628405893
REYAL URBIS SA     REY S1             -3738797123    1628405893
REYAL URBIS SA     REY1 EO            -3738797123    1628405893
REYAL URBIS SA     REY1 IX            -3738797123    1628405893
REYAL URBIS SA     REY1 EU            -3738797123    1628405893
REYAL URBIS SA     REY SM             -3738797123    1628405893
REYAL URBIS SA     REY1 TQ            -3738797123    1628405893
RHODIA SA          RHA FP            -72549998.76    7951479864
RHODIA SA          RHA TQ            -72549998.76    7951479864
RHODIA SA          RHA VX            -72549998.76    7951479864
RHODIA SA          RHD GR            -72549998.76    7951479864
RHODIA SA          RHANR PZ          -72549998.76    7951479864
RHODIA SA          RHA EB            -72549998.76    7951479864
RHODIA SA          3218857Q IX       -72549998.76    7951479864
RHODIA SA          RHA EO            -72549998.76    7951479864
RHODIA SA          RHA QM            -72549998.76    7951479864
RHODIA SA          RHA S1            -72549998.76    7951479864
RHODIA SA          RHAGBP EO         -72549998.76    7951479864
RHODIA SA          RHA PZ            -72549998.76    7951479864
RHODIA SA          RHA EU            -72549998.76    7951479864
RHODIA SA          RHA BQ            -72549998.76    7951479864
RHODIA SA          RHAY IX           -72549998.76    7951479864
RHODIA SA          RHADF US          -72549998.76    7951479864
RHODIA SA          RHDAF US          -72549998.76    7951479864
RHODIA SA          RHAGBX EO         -72549998.76    7951479864
RHODIA SA          RHA NQ            -72549998.76    7951479864
RHODIA SA          2324011Q EU       -72549998.76    7951479864
RHODIA SA          RHAGBX EU         -72549998.76    7951479864
RHODIA SA          RHAUSD EO         -72549998.76    7951479864
RHODIA SA          2324015Q EO       -72549998.76    7951479864
RHODIA SA          RHDI GR           -72549998.76    7951479864
RHODIA SA          RHAUSD EU         -72549998.76    7951479864
RHODIA SA          RHA GK            -72549998.76    7951479864
RHODIA SA          RHA IX            -72549998.76    7951479864
RHODIA SA          RHDI TH           -72549998.76    7951479864
RHODIA SA - NEW    3506266Q FP       -72549998.76    7951479864
RHODIA SA - NEW    8125782Q FP       -72549998.76    7951479864
RHODIA SA - NEW    2335921Q FP       -72549998.76    7951479864
RHODIA SA - NEW    3156011Q FP       -72549998.76    7951479864
RHODIA SA - NEW    RHANV FP          -72549998.76    7951479864
RHODIA SA-ADR      RHAYY US          -72549998.76    7951479864
RHODIA SA-NON RE   RHANR FP          -72549998.76    7951479864
RHODIA SA-RIGHTS   653447Q FP        -72549998.76    7951479864
RHODIA SA-RIGHTS   RHADS FP          -72549998.76    7951479864
RIOFISA            RFS PZ            -249543667.9   269548749.9
RIOFISA            RFSMF US          -249543667.9   269548749.9
RIOFISA            2306764Q EO       -249543667.9   269548749.9
RIOFISA            2306760Q EU       -249543667.9   269548749.9
RIOFISA SAU        RFS SM            -249543667.9   269548749.9
RITZ HOTEL LTD/T   1274338Z LN       -28035315.97   274954318.9
RIVNEAZOT          RAZT UZ           -144037013.2   625895879.8
ROAD MGMT CONS     1239Z LN          -24814.39972   315566259.7
ROBINS & DAY LTD   1280922Z LN       -6856667.394   134759440.1
ROCAMAT            ROCAP S2          -1664703.949   111569389.6
ROCAMAT            ROCA TQ           -1664703.949   111569389.6
ROCAMAT            ROCA EO           -1664703.949   111569389.6
ROCAMAT            R4C GR            -1664703.949   111569389.6
ROCAMAT            ROCAP L3          -1664703.949   111569389.6
ROCAMAT            ROCA FP           -1664703.949   111569389.6
ROCAMAT            ROCA PZ           -1664703.949   111569389.6
ROCAMAT            ROCA EU           -1664703.949   111569389.6
ROCAMAT            ROCA IX           -1664703.949   111569389.6
ROCAMAT            ROCA EB           -1664703.949   111569389.6
ROCAMAT            ROCA S1           -1664703.949   111569389.6
ROCAMAT            ROCAP B3          -1664703.949   111569389.6
ROCAMAT - RTS      ROCDS FP          -1664703.949   111569389.6
ROCAMAT-NEW        ROCN FP           -1664703.949   111569389.6
RONNECT GROU-ADR   SMWPY US          -69818642.47   499012577.7
ROSENTHAL AG       2644179Q GR       -1744186.284   217783877.8
ROSENTHAL AG-ACC   ROS4 GR           -1744186.284   217783877.8
ROSENTHAL AG-ADR   RSTHY US          -1744186.284   217783877.8
ROSENTHAL AG-REG   ROSG IX           -1744186.284   217783877.8
ROSYTH ROYAL DOC   2184524Z LN       -85968869.67     166294557
ROTTERDAM LEISUR   3822680Z NA       -121031.0998   120401466.1
RUSSIAN TEXT-CLS   ALRT* RU          -15214267.61     144581794
RUSSIAN TEXT-CLS   ALRTG RU          -15214267.61     144581794
S&T SYSTEM I-ADR   STSQY US          -38840367.34   182827447.9
S&T SYSTEM INTEG   SNTA PZ           -38840367.34   182827447.9
S&T SYSTEM INTEG   SNTS ES           -38840367.34   182827447.9
S&T SYSTEM INTEG   SYAG IX           -38840367.34   182827447.9
S&T SYSTEM INTEG   SNT EU            -38840367.34   182827447.9
S&T SYSTEM INTEG   SYA EX            -38840367.34   182827447.9
S&T SYSTEM INTEG   STSQF US          -38840367.34   182827447.9
S&T SYSTEM INTEG   0960262D GR       -38840367.34   182827447.9
S&T SYSTEM INTEG   SNT AV            -38840367.34   182827447.9
S&T SYSTEM INTEG   SLSYF US          -38840367.34   182827447.9
S&T SYSTEM INTEG   SNT EO            -38840367.34   182827447.9
S&T SYSTEM INTEG   SNTS IX           -38840367.34   182827447.9
SA DE SUPERMERCA   4373489Z SM       -24371663.66   162581700.7
SABENA SA          SABA BB           -85494497.66    2215341060
SAPPI EUROPE SA    3732894Z BB       -122111348.6   156331971.4
SAVA               SAVA EU           -25683460.81   345447770.3
SAVA               SAVA EO           -25683460.81   345447770.3
SAVA               SAVAT S2          -25683460.81   345447770.3
SAVA               SAVA SV           -25683460.81   345447770.3
SAVA               SAVAT L3          -25683460.81   345447770.3
SAVA               SAVAT B3          -25683460.81   345447770.3
SAVA               SAVA PZ           -25683460.81   345447770.3
SCANDINAVIAN BRA   SBS1 BY           -11519017.57   141247923.9
SCANDINAVIAN BRA   SBSD PZ           -11519017.57   141247923.9
SCANDINAVIAN BRA   SBSC B3           -11519017.57   141247923.9
SCANDINAVIAN BRA   SBS1 EO           -11519017.57   141247923.9
SCANDINAVIAN BRA   SBSC IX           -11519017.57   141247923.9
SCANDINAVIAN BRA   SBS1EUR EO        -11519017.57   141247923.9
SCANDINAVIAN BRA   SBS1EUR EU        -11519017.57   141247923.9
SCANDINAVIAN BRA   SBSC EB           -11519017.57   141247923.9
SCANDINAVIAN BRA   SBS1 EU           -11519017.57   141247923.9
SCANDINAVIAN BRA   SBS DC            -11519017.57   141247923.9
SCANDINAVIAN BRA   SBSC S2           -11519017.57   141247923.9
SCANDINAVIAN BRA   SBS1 TQ           -11519017.57   141247923.9
SCANDINAVIAN BRA   SBSC L3           -11519017.57   141247923.9
SCHWEIZ NATB-REG   SNBN SW            -4267161939      5.52E+11
SCHWEIZ NATB-REG   SNBN EU            -4267161939      5.52E+11
SCHWEIZ NATB-REG   SNBNZ S2           -4267161939      5.52E+11
SCHWEIZ NATB-REG   SNBN EB            -4267161939      5.52E+11
SCHWEIZ NATB-REG   SNBN IX            -4267161939      5.52E+11
SCHWEIZ NATB-REG   SNBNEUR EU         -4267161939      5.52E+11
SCHWEIZ NATB-REG   SWZNF US           -4267161939      5.52E+11
SCHWEIZ NATB-REG   SNBNZ L3           -4267161939      5.52E+11
SCHWEIZ NATB-REG   SNBNZ B3           -4267161939      5.52E+11
SCHWEIZ NATB-REG   SNBN EO            -4267161939      5.52E+11
SCHWEIZ NATB-REG   SNBNEUR EO         -4267161939      5.52E+11
SCHWEIZ NATB-REG   SNBN TQ            -4267161939      5.52E+11
SDR CENTREST       117241Q FP          -132420129   252176016.3
SDR PICARDIE       44428Q FP         -135351884.3   413398133.1
SEABIRD EXPLORAT   SBDXF US             -40921000     140986000
SEABIRD EXPLORAT   E36 GR               -40921000     140986000
SEABIRD EXPLORAT   SBX EU               -40921000     140986000
SEABIRD EXPLORAT   SBX NO               -40921000     140986000
SEABIRD EXPLORAT   SBX TQ               -40921000     140986000
SEABIRD EXPLORAT   SBX SS               -40921000     140986000
SEABIRD EXPLORAT   SBXGBX EO            -40921000     140986000
SEABIRD EXPLORAT   SBX BY               -40921000     140986000
SEABIRD EXPLORAT   SBDOF US             -40921000     140986000
SEABIRD EXPLORAT   SBXGBX EU            -40921000     140986000
SEABIRD EXPLORAT   SBX PZ               -40921000     140986000
SEABIRD EXPLORAT   S1D GR               -40921000     140986000
SEABIRD EXPLORAT   SBX IX               -40921000     140986000
SEABIRD EXPLORAT   SBXEUR EU            -40921000     140986000
SEABIRD EXPLORAT   E36D L3              -40921000     140986000
SEABIRD EXPLORAT   SBXO L3              -40921000     140986000
SEABIRD EXPLORAT   E36D B3              -40921000     140986000
SEABIRD EXPLORAT   SBXO S2              -40921000     140986000
SEABIRD EXPLORAT   SBXO B3              -40921000     140986000
SEABIRD EXPLORAT   SBXEUR EO            -40921000     140986000
SEABIRD EXPLORAT   E36D S2              -40921000     140986000
SEABIRD EXPLORAT   SBX EO               -40921000     140986000
SEABIRD-PREF       SBXP NO              -40921000     140986000
SEAFRANCE SA       1707464Z FP       -1015369.615   247030885.4
SEAT PAGINE        PG1 NQ             -1813769456   913050185.5
SEAT PAGINE        PG1USD EU          -1813769456   913050185.5
SEAT PAGINE        PGM S2             -1813769456   913050185.5
SEAT PAGINE        PG1USD EO          -1813769456   913050185.5
SEAT PAGINE        PG1 QM             -1813769456   913050185.5
SEAT PAGINE        PG1GBP EO          -1813769456   913050185.5
SEAT PAGINE        SPGMF US           -1813769456   913050185.5
SEAT PAGINE        PGM S1             -1813769456   913050185.5
SEAT PAGINE        PG1 TQ             -1813769456   913050185.5
SEAT PAGINE        PG BQ              -1813769456   913050185.5
SEAT PAGINE        SP7A GR            -1813769456   913050185.5
SEAT PAGINE        PGM B3             -1813769456   913050185.5
SEAT PAGINE        PG VX              -1813769456   913050185.5
SEAT PAGINE        SP7B GR            -1813769456   913050185.5
SEAT PAGINE        PG1 EO             -1813769456   913050185.5
SEAT PAGINE        PG1 NR             -1813769456   913050185.5
SEAT PAGINE        PG1 EB             -1813769456   913050185.5
SEAT PAGINE        SP7 GR             -1813769456   913050185.5
SEAT PAGINE        PGM BQ             -1813769456   913050185.5
SEAT PAGINE        PG S1              -1813769456   913050185.5
SEAT PAGINE        PGI1 IX            -1813769456   913050185.5
SEAT PAGINE        283147Q IM         -1813769456   913050185.5
SEAT PAGINE        PGM TQ             -1813769456   913050185.5
SEAT PAGINE        PG1GBX EO          -1813769456   913050185.5
SEAT PAGINE        SEEA LN            -1813769456   913050185.5
SEAT PAGINE        PG1 EU             -1813769456   913050185.5
SEAT PAGINE        PG IM              -1813769456   913050185.5
SEAT PAGINE        PG PZ              -1813769456   913050185.5
SEAT PAGINE        PGM L3             -1813769456   913050185.5
SEAT PAGINE-ADR    SPGMY US           -1813769456   913050185.5
SEAT PAGINE-RSP    SPGBF US           -1813769456   913050185.5
SEAT PAGINE-RSP    PGR EO             -1813769456   913050185.5
SEAT PAGINE-RSP    0746311D PZ        -1813769456   913050185.5
SEAT PAGINE-RSP    PGR IM             -1813769456   913050185.5
SEAT PAGINE-RSP    PGRM S2            -1813769456   913050185.5
SEAT PAGINE-RSP    PGRM L3            -1813769456   913050185.5
SEAT PAGINE-RSP    PGR EU             -1813769456   913050185.5
SEAT PAGINE-RSP    PGRM B3            -1813769456   913050185.5
SEAT PAGINE-RSP    PGR TQ             -1813769456   913050185.5
SEAT PAGINE-RSP    PGR IX             -1813769456   913050185.5
SEAT PAGINE-RSP    PGRM TQ            -1813769456   913050185.5
SEAT-PAGINE GIAL   SPG FP            -26146890.82   390114892.6
SEAT-PAGINE GIAL   PGAP GR           -26146890.82   390114892.6
SEAT-PAGINE GIAL   SPG IM            -26146890.82   390114892.6
SEAT-PAGINE GIAL   SGLSF US          -26146890.82   390114892.6
SEAT-PAGINE-RNC    SPGR IM           -26146890.82   390114892.6
SEATPG AXA         PGAXA IM           -1813769456   913050185.5
SECURE INCOME RE   0991780D LN       -182956902.1    2427346370
SECURE INCOME RE   SIRL B3           -182956902.1    2427346370
SECURE INCOME RE   SIRGBX EO         -182956902.1    2427346370
SECURE INCOME RE   SIR LN            -182956902.1    2427346370
SECURE INCOME RE   SIRGBX EU         -182956902.1    2427346370
SECURE INCOME RE   SIRL S2           -182956902.1    2427346370
SECURE INCOME RE   SIRL L3           -182956902.1    2427346370
SEDA DE BARCEL     SED EU            -739717245.2   686984724.9
SEDA DE BARCEL     SEDGBX EU         -739717245.2   686984724.9
SEDA DE BARCEL     SED S1            -739717245.2   686984724.9
SEDA DE BARCEL     SED EB            -739717245.2   686984724.9
SEDA DE BARCEL     SED EO            -739717245.2   686984724.9
SEDA DE BARCEL     SED TQ            -739717245.2   686984724.9
SEDA DE BARCEL     SEDGBP EO         -739717245.2   686984724.9
SEDA DE BARCEL     SDY1 GR           -739717245.2   686984724.9
SEDA DE BARCEL     SEDGBX EO         -739717245.2   686984724.9
SEDA DE BARCEL     SED SM            -739717245.2   686984724.9
SEDA DE BARCEL     SED IX            -739717245.2   686984724.9
SEDA DE BARCEL-A   SDB SM            -739717245.2   686984724.9
SEDA DE BARCEL-B   SDY GR            -739717245.2   686984724.9
SEDA DE BARCEL-B   LSDBF US          -739717245.2   686984724.9
SEDA DE BARCEL-B   SED NR            -739717245.2   686984724.9
SEDA DE BARCEL-B   SEDS PZ           -739717245.2   686984724.9
SEDA DE BARCEL-B   0882460D TQ       -739717245.2   686984724.9
SEGECE SCS         4518143Z FP       -14208162.69   209083011.9
SELONDA AQU-AUCT   SELOE GA           -62852188.8   246251293.9
SELONDA AQUACULT   SELOY L3           -62852188.8   246251293.9
SELONDA AQUACULT   SELO PZ            -62852188.8   246251293.9
SELONDA AQUACULT   SELOY S2           -62852188.8   246251293.9
SELONDA AQUACULT   SELO EO            -62852188.8   246251293.9
SELONDA AQUACULT   SELO EU            -62852188.8   246251293.9
SELONDA AQUACULT   SELOY B3           -62852188.8   246251293.9
SELONDA AQUACULT   SELO GA            -62852188.8   246251293.9
SELONDA FISHERIE   SELOR GA           -62852188.8   246251293.9
SERCO GROUP        SRP5 EO             -103146219    3465058407
SERCO GROUP        SRP S1              -103146219    3465058407
SERCO GROUP        SEO GK              -103146219    3465058407
SERCO GROUP        SRPL L3             -103146219    3465058407
SERCO GROUP        SRP BQ              -103146219    3465058407
SERCO GROUP        SRP PZ              -103146219    3465058407
SERCO GROUP        SRP1 EO             -103146219    3465058407
SERCO GROUP        SRP IX              -103146219    3465058407
SERCO GROUP        SEO GR              -103146219    3465058407
SERCO GROUP        SRP NQ              -103146219    3465058407
SERCO GROUP        SECCFN L3           -103146219    3465058407
SERCO GROUP        SECCF US            -103146219    3465058407
SERCO GROUP        SRPPEN EU           -103146219    3465058407
SERCO GROUP        SRPPEN EO           -103146219    3465058407
SERCO GROUP        SECCFN B3           -103146219    3465058407
SERCO GROUP        SRP6 EO             -103146219    3465058407
SERCO GROUP        SRPUSD EU           -103146219    3465058407
SERCO GROUP        SRP VX              -103146219    3465058407
SERCO GROUP        SEOG IX             -103146219    3465058407
SERCO GROUP        SRPEUR EU           -103146219    3465058407
SERCO GROUP        SRP NR              -103146219    3465058407
SERCO GROUP        SRP QX              -103146219    3465058407
SERCO GROUP        SRP PO              -103146219    3465058407
SERCO GROUP        SRPL S2             -103146219    3465058407
SERCO GROUP        SRP4 EO             -103146219    3465058407
SERCO GROUP        SRP EB              -103146219    3465058407
SERCO GROUP        SRP3 EO             -103146219    3465058407
SERCO GROUP        SRP TQ              -103146219    3465058407
SERCO GROUP        SRP EU              -103146219    3465058407
SERCO GROUP        SRPUSD EO           -103146219    3465058407
SERCO GROUP        SRP2 EO             -103146219    3465058407
SERCO GROUP        SEO TH              -103146219    3465058407
SERCO GROUP        SRP10 EO            -103146219    3465058407
SERCO GROUP        SRP EO              -103146219    3465058407
SERCO GROUP        SRPCHF EU           -103146219    3465058407
SERCO GROUP        SRCPF US            -103146219    3465058407
SERCO GROUP        SRPL B3             -103146219    3465058407
SERCO GROUP        SRPCHF EO           -103146219    3465058407
SERCO GROUP        SRP LN              -103146219    3465058407
SERCO GROUP        SRP QM              -103146219    3465058407
SERCO GROUP        SRPGBP EO           -103146219    3465058407
SERCO GROUP        SEO QT              -103146219    3465058407
SERCO GROUP        SRP SW              -103146219    3465058407
SERCO GROUP        SRP8 EO             -103146219    3465058407
SERCO GROUP        SRP7 EO             -103146219    3465058407
SERCO GROUP        SRP9 EO             -103146219    3465058407
SERCO GROUP        SRPEUR EO           -103146219    3465058407
SERCO GROUP-ADR    SECCY US            -103146219    3465058407
SERCO GROUP-F RT   SRPF LN             -103146219    3465058407
SERCO GROUP-F RT   SRPFGBX EO          -103146219    3465058407
SERCO GROUP-F RT   SRPFGBX EU          -103146219    3465058407
SERCO GROUP-N RT   SRPNL L3            -103146219    3465058407
SERCO GROUP-N RT   SRPNL B3            -103146219    3465058407
SERCO GROUP-N RT   SRPNL S2            -103146219    3465058407
SERCO GROUP-N RT   SRPNGBX EO          -103146219    3465058407
SERCO GROUP-N RT   SRPN LN             -103146219    3465058407
SERCO GROUP-N RT   SEOA GR             -103146219    3465058407
SERCO GROUP-N RT   SRPNEUR EO          -103146219    3465058407
SERCO GROUP-N RT   SRPNEUR EU          -103146219    3465058407
SERCO GROUP-N RT   SRPNGBX EU          -103146219    3465058407
SERVICO DE SAUDE   3790200Z PL       -226815997.5   542214475.7
SETON HEALTHCARE   2290Z LN          -10585505.26   156827663.2
SETUZA AS          2994767Q EO       -61453559.45   138581811.9
SETUZA AS          SZA GR            -61453559.45   138581811.9
SETUZA AS          2994759Q EO       -61453559.45   138581811.9
SETUZA AS          SETUZA CP         -61453559.45   138581811.9
SETUZA AS          SETUZA PZ         -61453559.45   138581811.9
SETUZA AS          2994763Q EU       -61453559.45   138581811.9
SETUZA AS          SZA EX            -61453559.45   138581811.9
SETUZA AS          2994755Q EU       -61453559.45   138581811.9
SETUZA AS          SETU IX           -61453559.45   138581811.9
SEVERNAYA KAZNA    SVKB RU           -65841683.17   279147737.1
SEVERNAYA KAZNA    SVKB* RU          -65841683.17   279147737.1
SEVKABEL-FINANS    SVKF RU           -83036.45789   102680368.9
SFAKIANAKIS SA     SFA GA            -53476191.92   410827753.5
SFAKIANAKIS SA     SFAY B3           -53476191.92   410827753.5
SFAKIANAKIS SA     SFA EO            -53476191.92   410827753.5
SFAKIANAKIS SA     SFA EU            -53476191.92   410827753.5
SFAKIANAKIS SA     SFAG PZ           -53476191.92   410827753.5
SFAKIANAKIS SA     SFAY S2           -53476191.92   410827753.5
SFAKIANAKIS SA     SFAY L3           -53476191.92   410827753.5
SFAKIANAKIS-AUC    SFAE GA           -53476191.92   410827753.5
SFI GROUP PLC      SUF LN            -108070418.7   177652965.6
SFI GROUP PLC      SUYFF US          -108070418.7   177652965.6
SGAL-SOCIEDADE G   4473915Z PL       -282250118.1   388608981.2
SHELL ESPANA SA    4514247Z SM       -293761250.9   183588746.2
SHELMAN            SELMK PZ          -8106820.918   269503085.6
SHELMAN            SELMK EO          -8106820.918   269503085.6
SHELMAN            SWH GR            -8106820.918   269503085.6
SHELMAN            SELMK EU          -8106820.918   269503085.6
SHELMAN            SELMK GA          -8106820.918   269503085.6
SHELMAN            3001167Q GR       -8106820.918   269503085.6
SHELMAN -RTS       4466796Q GA       -8106820.918   269503085.6
SHELMAN HELLENIC   SELMKY B3         -8106820.918   269503085.6
SHELMAN HELLENIC   SELMKY S2         -8106820.918   269503085.6
SHELMAN HELLENIC   SELMKY L3         -8106820.918   269503085.6
SHELMAN-PFD        SWH3 GR           -8106820.918   269503085.6
SHELMAN-PFD        SELMP GA          -8106820.918   269503085.6
SHELMAN-RTS        SELMKR GA         -8106820.918   269503085.6
SIDMA SA           SIDMAY L3         -13944614.65   160288368.6
SIDMA SA           SIDMA EO          -13944614.65   160288368.6
SIDMA SA           SIDMA GA          -13944614.65   160288368.6
SIDMA SA           SIDMA PZ          -13944614.65   160288368.6
SIDMA SA           SIDMAY B3         -13944614.65   160288368.6
SIDMA SA           SIDMA EU          -13944614.65   160288368.6
SIDMA SA           SIDMAY S2         -13944614.65   160288368.6
SIEMENS TRANSMIS   4678865Z FP       -30490786.14   344619846.7
SIFAS              SIFAS TI          -15438691.22   130603844.8
SIMED HEALTH CAR   3775544Z NA       -34197.38617   130252722.2
SINNLEFFERS AG     WHG GR            -4491635.615   453887060.1
SIS INTL           SK DC             -31099624.83   338785645.1
SIS INTL           SIS DC            -31099624.83   338785645.1
SIS INTL-NEW       SKN DC            -31099624.83   338785645.1
SISAL GROUP SPA    0775998D IM       -65279300.73    2012802495
SISTEMA HALS-GDR   HALS IX           -874213546.6    3351127450
SISTEMA-GDR 144A   SEMAL US          -874213546.6    3351127450
SITROL CONC-ADR    SVX EX            -119433664.7   940394639.1
SITROL CONC-ADR    STRLY US          -119433664.7   940394639.1
SKANDIA LIFE BUS   1451642Z LN       -1717894.198   162775859.3
SKYEUROPE          SKY PW            -89483677.73     159082240
SKYEUROPE          SKYP PW           -89483677.73     159082240
SKYEUROPE HLDG     SKY EU            -89483677.73     159082240
SKYEUROPE HLDG     SKYPLN EO         -89483677.73     159082240
SKYEUROPE HLDG     SKY AV            -89483677.73     159082240
SKYEUROPE HLDG     SKYPLN EU         -89483677.73     159082240
SKYEUROPE HLDG     SKY EO            -89483677.73     159082240
SKYEUROPE HLDG     0619064D GR       -89483677.73     159082240
SKYEUROPE HLDG     SKURF US          -89483677.73     159082240
SKYEUROPE HLDG     SKYA PZ           -89483677.73     159082240
SKYEUROPE HLDG     SKYV IX           -89483677.73     159082240
SKYEUROPE HLDG     SKY LI            -89483677.73     159082240
SKYEUROPE HOL-RT   SK1 AV            -89483677.73     159082240
SLOVENSKE ENERGE   SES02 EU           -55548542.3   145855993.5
SLOVENSKE ENERGE   1SES01A PZ         -55548542.3   145855993.5
SLOVENSKE ENERGE   SES EU             -55548542.3   145855993.5
SLOVENSKE ENERGE   SES02 SK           -55548542.3   145855993.5
SLOVENSKE ENERGE   SES02 EO           -55548542.3   145855993.5
SLOVENSKE ENERGE   1SES2T B3          -55548542.3   145855993.5
SLOVENSKE ENERGE   SES EO             -55548542.3   145855993.5
SLOVENSKE ENERGE   1SES1T S2          -55548542.3   145855993.5
SLOVENSKE ENERGE   1SES1T B3          -55548542.3   145855993.5
SLOVENSKE ENERGE   1SES2T L3          -55548542.3   145855993.5
SLOVENSKE ENERGE   1SES1T L3          -55548542.3   145855993.5
SLOVENSKE ENERGE   1SES2T S2          -55548542.3   145855993.5
SLOVENSKE ENERGE   SES SK             -55548542.3   145855993.5
SMITHS HEIMANN S   4513283Z FP       -19134635.11   123528857.5
SMITHS NEWS PLC    NWS12 EO          -69818642.47   499012577.7
SMITHS NEWS PLC    NWS6 EO           -69818642.47   499012577.7
SMITHS NEWS PLC    NWS LN            -69818642.47   499012577.7
SMITHS NEWS PLC    NWS IX            -69818642.47   499012577.7
SMITHS NEWS PLC    NWS9 EO           -69818642.47   499012577.7
SMITHS NEWS PLC    NWS2EUR EO        -69818642.47   499012577.7
SMITHS NEWS PLC    NWS2GBP EO        -69818642.47   499012577.7
SMITHS NEWS PLC    NWS5 EO           -69818642.47   499012577.7
SMITHS NEWS PLC    NWS1 EO           -69818642.47   499012577.7
SMITHS NEWS PLC    NWS2EUR EU        -69818642.47   499012577.7
SMITHS NEWS PLC    SMWPF US          -69818642.47   499012577.7
SMITHS NEWS PLC    NWS1 EU           -69818642.47   499012577.7
SMITHS NEWS PLC    NWS PZ            -69818642.47   499012577.7
SMITHS NEWS PLC    NWS11 EO          -69818642.47   499012577.7
SMITHS NEWS PLC    NWS1GBP EO        -69818642.47   499012577.7
SMITHS NEWS PLC    NWS13 EO          -69818642.47   499012577.7
SMITHS NEWS PLC    NWS VX            -69818642.47   499012577.7
SMITHS NEWS PLC    NWS8 EO           -69818642.47   499012577.7
SMITHS NEWS PLC    NWS2 EO           -69818642.47   499012577.7
SMITHS NEWS PLC    NWS4 EO           -69818642.47   499012577.7
SMITHS NEWS PLC    NWS7 EO           -69818642.47   499012577.7
SMITHS NEWS PLC    NWS10 EO          -69818642.47   499012577.7
SNCB HOLDING       SNCBPD BB         -893745521.6   37018974117
SNCB HOLDING       SNCVP BB          -893745521.6   37018974117
SNCB HOLDING       SNCVPEUR EO       -893745521.6   37018974117
SNCB HOLDING       SNCVPEUR EU       -893745521.6   37018974117
SNCB HOLDING-1     0742715D BB       -893745521.6   37018974117
SNCB HOLDING-2     0742716D BB       -893745521.6   37018974117
SNCB HOLDING-DVD   0742717D BB       -893745521.6   37018974117
SNCB HOLDING-INF   1223604D BB       -893745521.6   37018974117
SNCB HOLDING-ORD   0742718D BB       -893745521.6   37018974117
SNCB-JOUISSANCE    146453Z BB        -893745521.6   37018974117
SNCB-PRIV HOLLAN   SNCBPB BB         -893745521.6   37018974117
SNCB-PRIV SUISSE   SNCBPA BB         -893745521.6   37018974117
SNCF RESEAU        224063Z FP         -1502193646   75168386409
SNIA BPD           SN GR             -141935918.3   150447396.9
SNIA BPD-ADR       SBPDY US          -141935918.3   150447396.9
SNIA SPA           SIAI IX           -141935918.3   150447396.9
SNIA SPA           SNIB GR           -141935918.3   150447396.9
SNIA SPA           SN TQ             -141935918.3   150447396.9
SNIA SPA           SN IM             -141935918.3   150447396.9
SNIA SPA           SBPDF US          -141935918.3   150447396.9
SNIA SPA           SIAI PZ           -141935918.3   150447396.9
SNIA SPA           SN EO             -141935918.3   150447396.9
SNIA SPA           SNIXF US          -141935918.3   150447396.9
SNIA SPA           SNIA GR           -141935918.3   150447396.9
SNIA SPA           SSMLF US          -141935918.3   150447396.9
SNIA SPA           SN EU             -141935918.3   150447396.9
SNIA SPA - RTS     SNAAW IM          -141935918.3   150447396.9
SNIA SPA- RTS      SNAXW IM          -141935918.3   150447396.9
SNIA SPA-2003 SH   SN03 IM           -141935918.3   150447396.9
SNIA SPA-CONV SA   SPBDF US          -141935918.3   150447396.9
SNIA SPA-DRC       SNR00 IM          -141935918.3   150447396.9
SNIA SPA-NEW       SN00 IM           -141935918.3   150447396.9
SNIA SPA-NON CON   SPBNF US          -141935918.3   150447396.9
SNIA SPA-RCV       SNIVF US          -141935918.3   150447396.9
SNIA SPA-RCV       SNR IM            -141935918.3   150447396.9
SNIA SPA-RIGHTS    SNAW IM           -141935918.3   150447396.9
SNIA SPA-RNC       SNRNC IM          -141935918.3   150447396.9
SNIA SPA-RNC       SNIWF US          -141935918.3   150447396.9
SNIA SPA-RTS       SNSO IM           -141935918.3   150447396.9
SNIA SPA-RTS       SNAA IM           -141935918.3   150447396.9
SNIACE             SNC IX            -56012111.77   119545583.8
SNIACE             SNC1 TQ           -56012111.77   119545583.8
SNIACE             SNC1 EU           -56012111.77   119545583.8
SNIACE             SSD GR            -56012111.77   119545583.8
SNIACE             SNC1 EB           -56012111.77   119545583.8
SNIACE             SNC SM            -56012111.77   119545583.8
SNIACE             SNCEF US          -56012111.77   119545583.8
SNIACE             SNC1 S1           -56012111.77   119545583.8
SNIACE             SNC1 EO           -56012111.77   119545583.8
SNIACE             SNC PZ            -56012111.77   119545583.8
SNIACE-NEW         SNC/N SM          -56012111.77   119545583.8
SNIACE-RT          SNC/D SM          -56012111.77   119545583.8
SOC DES NOUVEAUX   4738657Z FP       -8776125.203   115226381.8
SOCIEDADE DE CON   3903002Z PL       -18190940.15   130209277.6
SOCIEDADE DE TRA   1253Z PL          -583270000.3   125409558.7
SOCIETE COMMERCI   4516647Z FP       -135557391.6    1345764531
SOCIETE COOPERAT   4634081Z FP       -2483569.477   277148267.8
SOCIETE D'AGENCE   4741441Z FP       -67358903.47   256750902.7
SOCIETE DE CHAUF   4722937Z FP       -45398224.11   123033096.2
SOCIETE DES AUTO   ARR1 VX           -89943297.24   11659772905
SOCIETE DES AUTO   ARR BQ            -89943297.24   11659772905
SOCIETE DES AUTO   ARR1 PZ           -89943297.24   11659772905
SOCIETE DES AUTO   RK9 GR            -89943297.24   11659772905
SOCIETE DES AUTO   ARRGBX EO         -89943297.24   11659772905
SOCIETE DES AUTO   SEAUF US          -89943297.24   11659772905
SOCIETE DES AUTO   ARRGBP EO         -89943297.24   11659772905
SOCIETE DES CENT   4713729Z FP       -2191007.373   109500824.8
SOCIETE DES EAUX   4721033Z FP       -67025242.75   257538795.2
SOCIETE DES-ADR    SEAUY US          -89943297.24   11659772905
SOCIETE FINANCIE   SFAL FP           -304909149.1    6618643415
SODERAG            SDRA FP           -2861533.316   404179878.4
SODERAG-NEW        SDRN FP           -2861533.316   404179878.4
SOGAPAL-SOCIEDAD   4769185Z PL       -17877575.67     137194157
SOGARA FRANCE      4674897Z FP       -112661311.2   297852595.4
SOLOCAL GROU-RTS   LOCDSEUR EU        -1736520389   862279100.1
SOLOCAL GROU-RTS   LOCDSEUR EO        -1736520389   862279100.1
SOLOCAL GROU-RTS   LOCDS FP           -1736520389   862279100.1
SOLOCAL GROU-RTS   LOCDS TQ           -1736520389   862279100.1
SOLOCAL GROUP      PAJCHF EO          -1736520389   862279100.1
SOLOCAL GROUP      PAJGBX EU          -1736520389   862279100.1
SOLOCAL GROUP      LOCAL EB           -1736520389   862279100.1
SOLOCAL GROUP      PAJ QM             -1736520389   862279100.1
SOLOCAL GROUP      PAJUSD EO          -1736520389   862279100.1
SOLOCAL GROUP      QS3 GR             -1736520389   862279100.1
SOLOCAL GROUP      PAJ S1             -1736520389   862279100.1
SOLOCAL GROUP      LOCALP B3          -1736520389   862279100.1
SOLOCAL GROUP      PAJ GK             -1736520389   862279100.1
SOLOCAL GROUP      PAJ EO             -1736520389   862279100.1
SOLOCAL GROUP      LOCAL QX           -1736520389   862279100.1
SOLOCAL GROUP      PAJGBP EO          -1736520389   862279100.1
SOLOCAL GROUP      LOCAL IX           -1736520389   862279100.1
SOLOCAL GROUP      PAJ BQ             -1736520389   862279100.1
SOLOCAL GROUP      PAJ TQ             -1736520389   862279100.1
SOLOCAL GROUP      PAJ1CHF EO         -1736520389   862279100.1
SOLOCAL GROUP      QS3 TH             -1736520389   862279100.1
SOLOCAL GROUP      LOCALP S2          -1736520389   862279100.1
SOLOCAL GROUP      LOCALP L3          -1736520389   862279100.1
SOLOCAL GROUP      LOCAL FP           -1736520389   862279100.1
SOLOCAL GROUP      PAJGBX EO          -1736520389   862279100.1
SOLOCAL GROUP      PAJ1CHF EU         -1736520389   862279100.1
SOLOCAL GROUP      PAJUSD EU          -1736520389   862279100.1
SOLOCAL GROUP      LOCAL EU           -1736520389   862279100.1
SOLOCAL GROUP      PAJ IX             -1736520389   862279100.1
SOLOCAL GROUP      PAJ EB             -1736520389   862279100.1
SOLOCAL GROUP      PAJ EU             -1736520389   862279100.1
SOLOCAL GROUP      LOCAL TQ           -1736520389   862279100.1
SOLOCAL GROUP      LOCAL SW           -1736520389   862279100.1
SOLON AG FU-MEW    532564Q GR        -138663225.9   627116116.4
SOLON AG FUE-NEW   SOO3 GR           -138663225.9   627116116.4
SOLON AG FUE-NEW   SOO4 GR           -138663225.9   627116116.4
SOLON AG FUE-NEW   SOOJ GR           -138663225.9   627116116.4
SOLON AG FUE-RTS   2292896Z GR       -138663225.9   627116116.4
SOLON AG FUER SO   SOOG IX           -138663225.9   627116116.4
SOLON AG FUER SO   SOO GR            -138663225.9   627116116.4
SOLON SE           SGFRF US          -138663225.9   627116116.4
SOLON SE           SOO1 EO           -138663225.9   627116116.4
SOLON SE           SOO1 TQ           -138663225.9   627116116.4
SOLON SE           SOO1 TH           -138663225.9   627116116.4
SOLON SE           SOO1 EU           -138663225.9   627116116.4
SOLON SE           SOO1 BQ           -138663225.9   627116116.4
SOLON SE           SOO1 GR           -138663225.9   627116116.4
SOLON SE           SOO1 S1           -138663225.9   627116116.4
SOLON SE           SOO1 PZ           -138663225.9   627116116.4
SOLON SE           SNBZF US          -138663225.9   627116116.4
SOLON SE           SOO1USD EU        -138663225.9   627116116.4
SOLON SE           SOON EO           -138663225.9   627116116.4
SOLON SE           SOO1USD EO        -138663225.9   627116116.4
SOLON SE           SOON EU           -138663225.9   627116116.4
SOLON SE           SOON GR           -138663225.9   627116116.4
SOLON SE-RTS       3664247Z GR       -138663225.9   627116116.4
SOLVAY PORTUGAL-   4775353Z PL       -26828982.51   133606876.8
SOMERSTON HOTELS   1167535Z LN       -189322116.8   379519378.5
SOMERSTON HOTELS   1231735Z LN       -41262222.44   103352288.9
SONET INVESTMENT   1692672Z LN       -5145399.595   362238782.1
SONY COMPUTER EN   3893902Z LN       -484038262.1    1249348085
SONY EUROPE LTD    1591658Z LN        -2116271762    1654745164
SOPAF SPA          SPF TQ               -24220244   153759286.6
SOPAF SPA          SPF EB               -24220244   153759286.6
SOPAF SPA          SPF IM               -24220244   153759286.6
SOPAF SPA          SPFI IX              -24220244   153759286.6
SOPAF SPA          SPF BQ               -24220244   153759286.6
SOPAF SPA          SPF EU               -24220244   153759286.6
SOPAF SPA          SPF PZ               -24220244   153759286.6
SOPAF SPA          SPF QM               -24220244   153759286.6
SOPAF SPA          SSZ HK               -24220244   153759286.6
SOPAF SPA          SOPAF US             -24220244   153759286.6
SOPAF SPA          SPF EO               -24220244   153759286.6
SOPAF SPA          SOCAF US             -24220244   153759286.6
SOPAF SPA-NEW 97   SPF97 IM             -24220244   153759286.6
SOPAF SPA-RNC      SPFN IM              -24220244   153759286.6
SOPAF SPA-RNC      SOPCF US             -24220244   153759286.6
SOPAF SPA-RT       SPFOB IM             -24220244   153759286.6
SOUTHERN CROSS     SCHEEUR EO        -456945463.9     226544692
SOUTHERN CROSS     SCH5 EO           -456945463.9     226544692
SOUTHERN CROSS     SCHEUSD EU        -456945463.9     226544692
SOUTHERN CROSS     F2Z GR            -456945463.9     226544692
SOUTHERN CROSS     SOCHF US          -456945463.9     226544692
SOUTHERN CROSS     SCHE LN           -456945463.9     226544692
SOUTHERN CROSS     SCHE TQ           -456945463.9     226544692
SOUTHERN CROSS     SCHE EO           -456945463.9     226544692
SOUTHERN CROSS     SCHE VX           -456945463.9     226544692
SOUTHERN CROSS     SCH4 EO           -456945463.9     226544692
SOUTHERN CROSS     F2Z TH            -456945463.9     226544692
SOUTHERN CROSS     SCHE QM           -456945463.9     226544692
SOUTHERN CROSS     SCHEEUR EU        -456945463.9     226544692
SOUTHERN CROSS     SCHE4 EO          -456945463.9     226544692
SOUTHERN CROSS     SCHE BQ           -456945463.9     226544692
SOUTHERN CROSS     SCHE3 EO          -456945463.9     226544692
SOUTHERN CROSS     SCHE5 EO          -456945463.9     226544692
SOUTHERN CROSS     SCHE2 EO          -456945463.9     226544692
SOUTHERN CROSS     SCHE PZ           -456945463.9     226544692
SOUTHERN CROSS     SCHE EB           -456945463.9     226544692
SOUTHERN CROSS     SCHE NQ           -456945463.9     226544692
SOUTHERN CROSS     SCHE NR           -456945463.9     226544692
SOUTHERN CROSS     SCHE7 EO          -456945463.9     226544692
SOUTHERN CROSS     SCHE6 EO          -456945463.9     226544692
SOUTHERN CROSS     SCHE EU           -456945463.9     226544692
SOUTHERN CROSS     SCHE S1           -456945463.9     226544692
SOUTHERN CROSS     SCHE8 EO          -456945463.9     226544692
SOUTHERN CROSS     SCH3 EO           -456945463.9     226544692
SOUTHERN CROSS     SCHEGBP EO        -456945463.9     226544692
SOUTHERN CROSS     SCHE IX           -456945463.9     226544692
SOUTHERN CROSS     SCHEUSD EO        -456945463.9     226544692
SOUTHERN CROSS     SCHE PO           -456945463.9     226544692
SOUTHERN ELE-ADR   SOELY US          -315604519.9    1586196236
SOUTHERN ELEC      619136Q LN        -315604519.9    1586196236
SOUTHERN ELEC-B    SELB LN           -315604519.9    1586196236
SPANAIR            1174Z SM          -224908325.6   350100970.3
SPAR HAND-PFD NV   SPA3 GR           -442426239.7    1433020961
SPAR HANDELS-AG    773844Q GR        -442426239.7    1433020961
SPAR HANDELS-AG    SPHFF US          -442426239.7    1433020961
SPENCER DOCK DEV   3813908Z ID          -87906519     773958702
SPIE BATIGNOLLES   1083363D FP       -15843540.88    5280931385
SPIRE HEALTHCARE   1444034Z LN       -423214914.8    2678924382
SPRINGER SCIENCE   648808Z GR        -664638301.8    3767996594
SQUARE ENIX LTD    1826770Z LN       -332218913.1   298496661.4
ST FIACRE (FIN)    132143Q FP        -1274873.644   111191494.1
ST GOBAIN SEKURI   3737571Z BB       -71323279.72   142248917.8
STAGECOACH SERVI   1584258Z LN       -13660380.53   207868606.7
STALNAYA GRUPPA    SGML$ RU            -221372976   11383539712
STAPLES UK RETAI   1592994Z LN       -80237154.66     170116799
START FUNDING NO   3816392Z ID       -49647004.37   505142087.3
STE FRANCAISE D'   4639273Z FP       -12030114.22   468842299.4
STEMCOR HOLDINGS   532183Z LN        -120313888.1    2404159063
STEMCOR UK LTD     1071106Z LN         -139791008     244452000
STIROL CONC -ADR   SVXF IX           -119433664.7   940394639.1
STIROL CONC -ADR   SVX GR            -119433664.7   940394639.1
STIROL CONC -ADR   STIR009 RU        -119433664.7   940394639.1
STIROL CONC -ADR   SRLLY US          -119433664.7   940394639.1
STIROL CONCERN     STRLF US          -119433664.7   940394639.1
STIROL CONCERN     SRLLF US          -119433664.7   940394639.1
STIROL CONCERN     STIR UZ           -119433664.7   940394639.1
STJAMES'S PLACE    4451825Z LN       -69492713.34   762546232.1
STOREBRAND EIEND   4288341Z NO        -1122201535    3712340671
SUN CHEMICAL LTD   2569274Z LN       -13584119.99   227447866.6
SUN VALLEY FOODS   2346003Z LN       -10931349.79   194740084.6
SUNDERLAND ASSOC   1274418Z LN       -55274632.43   153207257.5
SUSQUEHANNA EURO   4459081Z ID        -1526322048    6118562816
SUZLON WIND ENER   3985532Z DC       -50030921.82   151671945.3
SUZLON WIND ENER   3809140Z SM       -4604655.096   154658232.2
SWISS NATIONBANK   SN SW              -4267161939      5.52E+11
T BANK             TBANK EU          -46224213.41    3486115450
T BANK             TBANK GA          -46224213.41    3486115450
T BANK             ASPT GA           -46224213.41    3486115450
T BANK             ASPT EU           -46224213.41    3486115450
T BANK             TBANK EO          -46224213.41    3486115450
T BANK             ASPT PZ           -46224213.41    3486115450
T BANK             ASPT EO           -46224213.41    3486115450
TA TRIUMPH-A-RTS   1018916Z GR       -124531131.9   313411495.3
TA TRIUMPH-ACQ     TWNA GR           -124531131.9   313411495.3
TA TRIUMPH-ACQ     TWNA EU           -124531131.9   313411495.3
TA TRIUMPH-ADLER   0292922D GR       -124531131.9   313411495.3
TA TRIUMPH-ADLER   TWNG IX           -124531131.9   313411495.3
TA TRIUMPH-ADLER   TWN EU            -124531131.9   313411495.3
TA TRIUMPH-ADLER   TWN EO            -124531131.9   313411495.3
TA TRIUMPH-ADLER   TTZAF US          -124531131.9   313411495.3
TA TRIUMPH-ADLER   TWN PZ            -124531131.9   313411495.3
TA TRIUMPH-NEW     TWN1 GR           -124531131.9   313411495.3
TA TRIUMPH-RT      TWN8 GR           -124531131.9   313411495.3
TA TRIUMPH-RTS     3158577Q GR       -124531131.9   313411495.3
TABASA INFRAESTR   3747640Z SM         -174949990   118045845.5
TABLEROS DE FI-N   TFI/N SM          -86643526.68   212704268.2
TABLEROS DE FI-R   TFI/D SM          -86643526.68   212704268.2
TABLEROS DE FIBR   TRFSF US          -86643526.68   212704268.2
TAFISA             TFIEUR EU         -86643526.68   212704268.2
TAFISA             TFIEUR EO         -86643526.68   212704268.2
TAFISA             TFI SM            -86643526.68   212704268.2
TAKEDA PHARMA IR   4460049Z ID       -553964898.1   178556098.5
TAKKER EUROPA AP   3972332Z DC       -83653640.05   206327420.9
TALISMAN ENERGY    3641763Z NO       -331083562.7    2451136755
TALVIVAARA MI-DI   TALVUSD EU        -396381388.6   859487684.4
TALVIVAARA MI-DI   TALV QM           -396381388.6   859487684.4
TALVIVAARA MI-DI   TM7 GR            -396381388.6   859487684.4
TALVIVAARA MI-DI   TALV NR           -396381388.6   859487684.4
TALVIVAARA MI-DI   TLV1V TQ          -396381388.6   859487684.4
TALVIVAARA MI-DI   TALV IX           -396381388.6   859487684.4
TALVIVAARA MI-DI   TM7 GK            -396381388.6   859487684.4
TALVIVAARA MI-DI   TALV EU           -396381388.6   859487684.4
TALVIVAARA MI-DI   TALVUSD EO        -396381388.6   859487684.4
TALVIVAARA MI-DI   TLV1V BQ          -396381388.6   859487684.4
TALVIVAARA MI-DI   TALV PZ           -396381388.6   859487684.4
TALVIVAARA MI-DI   TALV LN           -396381388.6   859487684.4
TALVIVAARA MI-DI   TALVL S2          -396381388.6   859487684.4
TALVIVAARA MI-DI   TALVEUR EU        -396381388.6   859487684.4
TALVIVAARA MI-DI   TALVGBP EO        -396381388.6   859487684.4
TALVIVAARA MI-DI   TALV S1           -396381388.6   859487684.4
TALVIVAARA MI-DI   TALV BQ           -396381388.6   859487684.4
TALVIVAARA MI-DI   TALV TQ           -396381388.6   859487684.4
TALVIVAARA MI-DI   TLV1V FH          -396381388.6   859487684.4
TALVIVAARA MI-DI   TALVEUR EO        -396381388.6   859487684.4
TALVIVAARA MI-DI   TM7 TH            -396381388.6   859487684.4
TALVIVAARA MI-DI   TALV EB           -396381388.6   859487684.4
TALVIVAARA MI-DI   TLV1V BY          -396381388.6   859487684.4
TALVIVAARA MI-DI   TLV1VH S2         -396381388.6   859487684.4
TALVIVAARA MI-DI   TALVL B3          -396381388.6   859487684.4
TALVIVAARA MI-DI   TLV1V IX          -396381388.6   859487684.4
TALVIVAARA MI-DI   TALVEUR QM        -396381388.6   859487684.4
TALVIVAARA MI-DI   TLV1V EB          -396381388.6   859487684.4
TALVIVAARA MI-DI   TALVL L3          -396381388.6   859487684.4
TALVIVAARA MI-DI   TALV EO           -396381388.6   859487684.4
TALVIVAARA MI-RT   0745741D LN       -396381388.6   859487684.4
TALVIVAARA MI-RT   TALS EO           -396381388.6   859487684.4
TALVIVAARA MI-RT   TLV1VU13 FH       -396381388.6   859487684.4
TALVIVAARA MI-RT   TALS LN           -396381388.6   859487684.4
TALVIVAARA MININ   TALI LN           -396381388.6   859487684.4
TALVIVAARA MININ   TLV1VN13 FH       -396381388.6   859487684.4
TALVIVAARA MININ   TLV1VEUR NQ       -396381388.6   859487684.4
TALVIVAARA MININ   0745755D LN       -396381388.6   859487684.4
TALVIVAARA MININ   TLV1V NQ          -396381388.6   859487684.4
TALVIVAARA MININ   TALV NQ           -396381388.6   859487684.4
TALVIVAARA MININ   0746817D FH       -396381388.6   859487684.4
TAP SGPS           TAP PL            -514759935.9    2337485245
TATA CHEMICALS     1626874Z LN       -6488265.073   183288170.1
TATA CMMNCTNS UK   2534722Z LN          -79448664     149100896
TATA STEEL EUROP   4287165Z LN       -470404199.8   11926915209
TAVEX - RTS        ASA/D SM          -10622070.67     655950832
TAVEX ALGODO-RTS   613781Q SM        -10622070.67     655950832
TAVEX ALGODO-RTS   2773473Q SM       -10622070.67     655950832
TAVEX ALGODON-NE   ASA/N SM          -10622070.67     655950832
TAVEX ALGODONERA   ASA PZ            -10622070.67     655950832
TAVEX ALGODONERA   ASA SM            -10622070.67     655950832
TAVEX ALGODONERA   ASA EU            -10622070.67     655950832
TAVEX ALGODONERA   ASA EO            -10622070.67     655950832
TEAM PARTNER-RTS   633323Q FP        -13557467.93     129831049
TEAM PARTNER-RTS   2841653Q FP       -13557467.93     129831049
TEAM PARTNERS      TPTRF US          -13557467.93     129831049
TEAM PARTNERS      TIP FP            -13557467.93     129831049
TEAM PARTNERS      TPGY IX           -13557467.93     129831049
TEAM PARTNERS      2347985Q EO       -13557467.93     129831049
TEAM PARTNERS      TIP PZ            -13557467.93     129831049
TEAM PARTNERS      2347981Q EU       -13557467.93     129831049
TEAM PARTNERS GR   TIPDS FP          -13557467.93     129831049
TEAM PARTNERS GR   TPGP PZ           -13557467.93     129831049
TEAM PARTNERS GR   TIPA EO           -13557467.93     129831049
TEAM PARTNERS GR   TIPA EU           -13557467.93     129831049
TEAM PARTNERS GR   TPGP IX           -13557467.93     129831049
TEAM PARTNERS GR   TIPNV FP          -13557467.93     129831049
TEAM PARTNERS GR   TIPA FP           -13557467.93     129831049
TEAM PARTNERS-N    TIPN FP           -13557467.93     129831049
TECNODIFF ITALIA   TDI IM            -89894162.82   152045757.5
TECNODIFF ITALIA   TDI NM            -89894162.82   152045757.5
TECNODIFF ITALIA   TDIFF US          -89894162.82   152045757.5
TECNODIFF ITALIA   0965585D GR       -89894162.82   152045757.5
TECNODIFF-RTS      TDIAOW NM         -89894162.82   152045757.5
TECNODIFFUSIONE    TDIAAW IM         -89894162.82   152045757.5
TEEUWISSEN HOLDI   3804012Z NA        -459173.717   366182065.4
TEL IT MEDIA-RTS   TMERAA IM         -26146890.82   390114892.6
TELE COLUMBUS AG   TC1 TH            -84850614.65   960322563.6
TELE COLUMBUS AG   TC1 LI            -84850614.65   960322563.6
TELE COLUMBUS AG   TC1 QT            -84850614.65   960322563.6
TELE COLUMBUS AG   TC1EUR EO         -84850614.65   960322563.6
TELE COLUMBUS AG   TC1EUR EU         -84850614.65   960322563.6
TELE COLUMBUS AG   TC1D S1           -84850614.65   960322563.6
TELE COLUMBUS AG   TC1D IX           -84850614.65   960322563.6
TELE COLUMBUS AG   TC1D TQ           -84850614.65   960322563.6
TELE COLUMBUS AG   TC1D EB           -84850614.65   960322563.6
TELE COLUMBUS AG   3215720Z GR       -84850614.65   960322563.6
TELE COLUMBUS AG   TC1 GR            -84850614.65   960322563.6
TELECOM IT-RTS     TMEAA IM          -26146890.82   390114892.6
TELECOM ITAL RSP   TMERM B3          -26146890.82   390114892.6
TELECOM ITAL RSP   TMERM L3          -26146890.82   390114892.6
TELECOM ITAL RSP   TMER PZ           -26146890.82   390114892.6
TELECOM ITAL RSP   TMER EO           -26146890.82   390114892.6
TELECOM ITAL RSP   TMERM S2          -26146890.82   390114892.6
TELECOM ITAL RSP   TMER EU           -26146890.82   390114892.6
TELECOM ITAL RSP   TIAZF US          -26146890.82   390114892.6
TELECOM ITAL RSP   TMER TQ           -26146890.82   390114892.6
TELECOM ITAL RSP   TCMN IX           -26146890.82   390114892.6
TELECOM ITAL RSP   TMER IM           -26146890.82   390114892.6
TELECOM ITAL-ADR   TIAMY US          -26146890.82   390114892.6
TELECOM ITAL-RTS   TMIDS FP          -26146890.82   390114892.6
TELECOM ITALIA M   TCLM LN           -26146890.82   390114892.6
TELECOM ITALIA M   PGA2 GR           -26146890.82   390114892.6
TELECOM ITALIA M   TMEAZA IM         -26146890.82   390114892.6
TELECOM ITALIA M   TIAMF US          -26146890.82   390114892.6
TELECOM ITALIA M   TMEM L3           -26146890.82   390114892.6
TELECOM ITALIA M   TME TQ            -26146890.82   390114892.6
TELECOM ITALIA M   TMEM S2           -26146890.82   390114892.6
TELECOM ITALIA M   TME NQ            -26146890.82   390114892.6
TELECOM ITALIA M   TME EU            -26146890.82   390114892.6
TELECOM ITALIA M   TMI FP            -26146890.82   390114892.6
TELECOM ITALIA M   TME NR            -26146890.82   390114892.6
TELECOM ITALIA M   TMEM B3           -26146890.82   390114892.6
TELECOM ITALIA M   TME BQ            -26146890.82   390114892.6
TELECOM ITALIA M   TCM IX            -26146890.82   390114892.6
TELECOM ITALIA M   TME IM            -26146890.82   390114892.6
TELECOM ITALIA M   PGA VX            -26146890.82   390114892.6
TELECOM ITALIA M   TME EO            -26146890.82   390114892.6
TELECOM ITALIA M   TME EB            -26146890.82   390114892.6
TELECOM ITALIA M   TME PZ            -26146890.82   390114892.6
TELECOM ITALIA M   TME IX            -26146890.82   390114892.6
TELECOM ITALIA M   TMEGBX EO         -26146890.82   390114892.6
TELECOM ITALIA M   TME S1            -26146890.82   390114892.6
TELECOM ITALIA M   TME QM            -26146890.82   390114892.6
TELECOM ITALIA M   PGA GR            -26146890.82   390114892.6
TELECOM ITALIA M   PGA1 GR           -26146890.82   390114892.6
TELEFONICA CABLE   4374649Z SM       -13714272.04   108786240.3
TELENET GROUP HO   972951Z BB         -1648383091    4125011169
TELENET GROUP HO   972991Z BB         -1648383091    4125011169
TELENET GRP HLDG   TNET PZ            -1648383091    4125011169
TELENET GRP HLDG   TNET LI            -1648383091    4125011169
TELENET GRP HLDG   TNET EO            -1648383091    4125011169
TELENET GRP HLDG   TNET EB            -1648383091    4125011169
TELENET GRP HLDG   TLGHF US           -1648383091    4125011169
TELENET GRP HLDG   TNET NQ            -1648383091    4125011169
TELENET GRP HLDG   TNET QM            -1648383091    4125011169
TELENET GRP HLDG   TNETB S2           -1648383091    4125011169
TELENET GRP HLDG   TNETGBX EU         -1648383091    4125011169
TELENET GRP HLDG   TNETUSD EO         -1648383091    4125011169
TELENET GRP HLDG   TNETB B3           -1648383091    4125011169
TELENET GRP HLDG   T4I GR             -1648383091    4125011169
TELENET GRP HLDG   TNET QX            -1648383091    4125011169
TELENET GRP HLDG   T4I QT             -1648383091    4125011169
TELENET GRP HLDG   TNETB L3           -1648383091    4125011169
TELENET GRP HLDG   TNET SW            -1648383091    4125011169
TELENET GRP HLDG   TNET EU            -1648383091    4125011169
TELENET GRP HLDG   TNET MT            -1648383091    4125011169
TELENET GRP HLDG   T4I TH             -1648383091    4125011169
TELENET GRP HLDG   TLGHFN L3          -1648383091    4125011169
TELENET GRP HLDG   TNETGBP EO         -1648383091    4125011169
TELENET GRP HLDG   TNET IX            -1648383091    4125011169
TELENET GRP HLDG   TNET S1            -1648383091    4125011169
TELENET GRP HLDG   TLGHFN B3          -1648383091    4125011169
TELENET GRP HLDG   TNETGBX EO         -1648383091    4125011169
TELENET GRP HLDG   TNET BB            -1648383091    4125011169
TELENET GRP HLDG   TNET BQ            -1648383091    4125011169
TELENET GRP HLDG   TNET TQ            -1648383091    4125011169
TELENET GRP HLDG   TNETUSD EU         -1648383091    4125011169
TELENET GRP HLDG   3218105Q IX        -1648383091    4125011169
TELENET GRP HLDG   TNET GK            -1648383091    4125011169
TELENET-STRP       TNETS BB           -1648383091    4125011169
TELENET-UNS ADR    TLGHY US           -1648383091    4125011169
TELEWEST COM-ADR   TWSTY US           -3702338522    7581233764
TELEWEST COM-ADR   TWT$ LN            -3702338522    7581233764
TELEWEST COM-ADR   940767Q GR         -3702338522    7581233764
TELEWEST COM-ADR   TWSTD US           -3702338522    7581233764
TELEWEST COMM      TWSTF US           -3702338522    7581233764
TELEWEST COMM      TWT VX             -3702338522    7581233764
TELEWEST COMM      604296Q GR         -3702338522    7581233764
TELEWEST COMMUNI   2188148Z LN       -67233110.94     202555795
TELEWEST COMMUNI   1646328Z LN       -70647363.53    1206793393
TEMENOS UK LTD     1510258Z LN       -45594601.76   174643741.6
TF1 VIDEO SASU     4516855Z FP       -18656465.65   113026097.4
THALES AVIONICS    3636463Z FP       -12162547.91   167485138.3
THALES RAIL SIGN   2812334Z LN       -53304418.15   127892833.1
THALES SECURITY    4701729Z FP       -426153529.7   822653430.4
THALES TRANSPORT   1163839Z LN       -70122221.34     197834485
THARISA PLC        THA SJ               -90755000     361040992
THEMELIODOMI       THEME GA          -55751173.78   232036822.6
THEMELIODOMI-AUC   THEMEE GA         -55751173.78   232036822.6
THEMELIODOMI-RTS   THEMED GA         -55751173.78   232036822.6
THEMELIODOMI-RTS   THEMER GA         -55751173.78   232036822.6
THOMSON REUTERS    4777193Z NO       -130942490.2   119378624.6
THOMSON TELECOM    4516815Z FP       -5134206.103   321303435.7
THORN EMI PLC      THNE FP            -2265973885    2950096964
THORN EMI-ADR      THN$ LN            -2265973885    2950096964
THORN EMI-ADR      TORNY US           -2265973885    2950096964
THORN EMI-CDR      THN NA             -2265973885    2950096964
THORN EMI-REGD     1772Q GR           -2265973885    2950096964
TISCALI - RTS      TIQA GR           -204369006.4   251559007.9
TISCALI - RTS      TISAAW IM         -204369006.4   251559007.9
TISCALI SPA        TISM L3           -204369006.4   251559007.9
TISCALI SPA        TIS IM            -204369006.4   251559007.9
TISCALI SPA        TIS TQ            -204369006.4   251559007.9
TISCALI SPA        TISN FP           -204369006.4   251559007.9
TISCALI SPA        TIS NR            -204369006.4   251559007.9
TISCALI SPA        TIS EO            -204369006.4   251559007.9
TISCALI SPA        TISM IX           -204369006.4   251559007.9
TISCALI SPA        TIS EU            -204369006.4   251559007.9
TISCALI SPA        TISGBX EU         -204369006.4   251559007.9
TISCALI SPA        TIS IX            -204369006.4   251559007.9
TISCALI SPA        TIS VX            -204369006.4   251559007.9
TISCALI SPA        TIS1 S1           -204369006.4   251559007.9
TISCALI SPA        TISGBP EO         -204369006.4   251559007.9
TISCALI SPA        TSCXF US          -204369006.4   251559007.9
TISCALI SPA        TIS NQ            -204369006.4   251559007.9
TISCALI SPA        TISM S2           -204369006.4   251559007.9
TISCALI SPA        TIS QM            -204369006.4   251559007.9
TISCALI SPA        TIQ GR            -204369006.4   251559007.9
TISCALI SPA        TIS BQ            -204369006.4   251559007.9
TISCALI SPA        TIS EB            -204369006.4   251559007.9
TISCALI SPA        TIQ1 GR           -204369006.4   251559007.9
TISCALI SPA        TISGBX EO         -204369006.4   251559007.9
TISCALI SPA        TIS NA            -204369006.4   251559007.9
TISCALI SPA        TISN IX           -204369006.4   251559007.9
TISCALI SPA        TIS FP            -204369006.4   251559007.9
TISCALI SPA        TISN NA           -204369006.4   251559007.9
TISCALI SPA        TISN IM           -204369006.4   251559007.9
TISCALI SPA        TIS PZ            -204369006.4   251559007.9
TISCALI SPA        TISN VX           -204369006.4   251559007.9
TISCALI SPA        TIQG IX           -204369006.4   251559007.9
TISCALI SPA        TISM B3           -204369006.4   251559007.9
TISCALI SPA- RTS   TISAXA IM         -204369006.4   251559007.9
TISCALI SPA- RTS   3391621Q GR       -204369006.4   251559007.9
TITAN CABLE PLC    715382Q LN         -3702338522    7581233764
TIUTA PLC          3814936Z LN       -56307814.14   182365274.9
TNT NV             TPG LI            -713900022.5    2997170017
TNT NV             TNT EO            -713900022.5    2997170017
TNT NV             TNT GK            -713900022.5    2997170017
TNT NV             TNTUSD EU         -713900022.5    2997170017
TNT NV             TNTNOK EU         -713900022.5    2997170017
TNT NV             TNT NQ            -713900022.5    2997170017
TNT NV             TNTCHF EU         -713900022.5    2997170017
TNT NV             TNT GR            -713900022.5    2997170017
TNT NV             TNT S1            -713900022.5    2997170017
TNT NV             TNTAUD EO         -713900022.5    2997170017
TNT NV             TNTNOK EO         -713900022.5    2997170017
TNT NV             TPG LN            -713900022.5    2997170017
TNT NV             TPGNF US          -713900022.5    2997170017
TNT NV             TNTPLN EO         -713900022.5    2997170017
TNT NV             TNT TQ            -713900022.5    2997170017
TNT NV             TNTPLN EU         -713900022.5    2997170017
TNT NV             TNT NA            -713900022.5    2997170017
TNT NV             TPG NA            -713900022.5    2997170017
TNT NV             TNT BQ            -713900022.5    2997170017
TNT NV             TNTUSD EO         -713900022.5    2997170017
TNT NV             TNTGBX EU         -713900022.5    2997170017
TNT NV             TNT EB            -713900022.5    2997170017
TNT NV             TNTP IX           -713900022.5    2997170017
TNT NV             TNT VX            -713900022.5    2997170017
TNT NV             TNTGBP EO         -713900022.5    2997170017
TNT NV             TPG VX            -713900022.5    2997170017
TNT NV             TNTAUD EU         -713900022.5    2997170017
TNT NV             TNT QM            -713900022.5    2997170017
TNT NV             TNTCHF EO         -713900022.5    2997170017
TNT NV             TPG GR            -713900022.5    2997170017
TNT NV             TNTGBX EO         -713900022.5    2997170017
TNT NV             TNT EU            -713900022.5    2997170017
TNT NV-ADR         TNT US            -713900022.5    2997170017
TNT NV-ADR         TPGA GR           -713900022.5    2997170017
TNT NV-ADR         TP US             -713900022.5    2997170017
TNT POST GRP-STK   TPGS NA           -713900022.5    2997170017
TOORA              2916661Q EO       -288811.9236     147001663
TOORA              2916665Q EU       -288811.9236     147001663
TOORA              TOR PZ            -288811.9236     147001663
TOORA              1056312D PW       -288811.9236     147001663
TOORA-ALLOT CERT   1025366D PW       -288811.9236     147001663
TOPAZ ENERGY GRO   4508643Z ID       -61682466.52   512166489.3
TOPLAND PORTFOLI   1939134Z LN       -70350009.57   188623384.4
TORM A/S           TORMCHF EU          -163995008    1384248960
TORM A/S           1108066D DC         -163995008    1384248960
TORM A/S           TORMEUR EO          -163995008    1384248960
TORM A/S           TORM TQ             -163995008    1384248960
TORM A/S           TORMC S2            -163995008    1384248960
TORM A/S           TORMC L3            -163995008    1384248960
TORM A/S           TORM EO             -163995008    1384248960
TORM A/S           TORM BQ             -163995008    1384248960
TORM A/S           TORM EB             -163995008    1384248960
TORM A/S           TORMC B3            -163995008    1384248960
TORM A/S           TORM NQ             -163995008    1384248960
TORM A/S           TORM PZ             -163995008    1384248960
TORM A/S           TORMUSD EO          -163995008    1384248960
TORM A/S           TORM QM             -163995008    1384248960
TORM A/S           TORMGBP EO          -163995008    1384248960
TORM A/S           D8D GR              -163995008    1384248960
TORM A/S           TORM EU             -163995008    1384248960
TORM A/S           DSKBF US            -163995008    1384248960
TORM A/S           TORM S1             -163995008    1384248960
TORM A/S           TORMUSD EU          -163995008    1384248960
TORM A/S           TORMEUR EU          -163995008    1384248960
TORM A/S           TORMCHF EO          -163995008    1384248960
TORM A/S           TORM IX             -163995008    1384248960
TORM A/S           TORM DC             -163995008    1384248960
TORM A/S           TORM BY             -163995008    1384248960
TORM A/S-ADR       D8DA GR             -163995008    1384248960
TORM A/S-ADR       D8DB GR             -163995008    1384248960
TORM A/S-ADR       TRMD US             -163995008    1384248960
TOUGHER'S OIL DI   3807844Z ID          -36877649   104267886.6
TOWER GROUP A/S    TOWER BY          -31099624.83   338785645.1
TOWER GROUP A/S    SICC IX           -31099624.83   338785645.1
TOWER GROUP A/S    TOWEREUR EU       -31099624.83   338785645.1
TOWER GROUP A/S    TOWER EO          -31099624.83   338785645.1
TOWER GROUP A/S    TOWER DC          -31099624.83   338785645.1
TOWER GROUP A/S    TOWER PZ          -31099624.83   338785645.1
TOWER GROUP A/S    TOWER EU          -31099624.83   338785645.1
TOWER GROUP A/S    TOWEREUR EO       -31099624.83   338785645.1
TOWER GROUP-NEW    TOWERN DC         -31099624.83   338785645.1
TOWER GROUP-RTS    3536132Q DC       -31099624.83   338785645.1
TOWER GROUP-RTS    TOWERT DC         -31099624.83   338785645.1
TOYOTA MOTOR MAN   4512043Z FP        -46821010.2   743895134.9
TPG NV             TNT LN            -713900022.5    2997170017
TRABZONSPOR        TSO GR            -34128608.69   128273145.7
TRABZONSPOR        TBZYF US          -34128608.69   128273145.7
TRABZONSPOR        TSPOR TI          -34128608.69   128273145.7
TRABZONSPOR SPOR   TSPORM TI         -34128608.69   128273145.7
TRABZONSPOR- RTS   TSPORR TI         -34128608.69   128273145.7
TRADER MEDIA COR   1809857Z LN       -68377500.77    1067600712
TRANSPORT D-NEW    TNLN FP           -6937246.157   107314275.4
TRANSPORT D-RTS    TNLR FP           -6937246.157   107314275.4
TRAVELEX HOLDING   2917958Z LN        -1601950541    2190537985
TRAVELPORT WORLD   1TW TH              -338000000    2892000000
TRAVELPORT WORLD   TVPTEUR EU          -338000000    2892000000
TRAVELPORT WORLD   TVPTEUR EO          -338000000    2892000000
TRAVELPORT WORLD   1TW GR              -338000000    2892000000
TRAVELPORT WORLD   TVPT US             -338000000    2892000000
TRAVELPORT WORLD   1005045D US         -338000000    2892000000
TRINITY MIRROR P   1511258Z LN         -131856186   562771692.5
TROUVAY CAUVIN     ETEC FP           -396977.8818   133986439.7
TROUVAY CAUVIN     TVYCF US          -396977.8818   133986439.7
TUBE LINES FINAN   1241207Z LN       -2914999.962    2408518672
TUI UK LTD         1653824Z LN         -207142395    3158921524
TUILERIES FINANC   4701769Z FP       -3956981.588   125941142.6
TUTUNBANK          TUT TI            -948074542.1   622746433.4
TVER ENERGY RET    TVSBG RU          -24410938.13     161377178
TVER ENERGY RET    0633645D RU       -24410938.13     161377178
TVER ENERGY RET    TVSB RM           -24410938.13     161377178
TVER ENERGY RET    TVSB* RU          -24410938.13     161377178
TVER ENERGY RET    TVSB RU           -24410938.13     161377178
TVER ENERGY-PFD    TVSBP* RU         -24410938.13     161377178
TVER ENERGY-PFD    TVSBP RM          -24410938.13     161377178
TVER ENERGY-PFD    TVSBPG RU         -24410938.13     161377178
TVER ENERGY-PFD    TVSBP RU          -24410938.13     161377178
TVER ENERGY-PFD    0633659D RU       -24410938.13     161377178
UKRAINIAN INNOVA   UIFC UZ           -4433976.899   132567951.3
ULSTERBUS LTD      3820392Z LN       -10764138.12   304076265.4
UMBRO INTERNATIO   UMBROZ HK         -23446865.21   108386366.5
UNEDIC             220055Z FP        -13751596343    9133559737
UNILEVER UK CENT   1273034Z LN        -2677661868   15838747390
UNITEC UNION TIE   3801344Z SM       -23208240.29   131217999.9
UNITED PAN -ADR    UPEA GR            -5505478850    5112616630
UNITED PAN-A ADR   UPCOY US           -5505478850    5112616630
UNITED PAN-EUR-A   UPC LN             -5505478850    5112616630
UNITED PAN-EUR-A   UPC LI             -5505478850    5112616630
UNITED PAN-EUROP   UPC VX             -5505478850    5112616630
UNITED PAN-EUROP   UPCOF US           -5505478850    5112616630
UNITED PAN-EUROP   UPCEF US           -5505478850    5112616630
UNITED PAN-EUROP   UPE1 GR            -5505478850    5112616630
UNITED TEXTILES    NAOYK GA          -163112562.6   286535432.7
UNITED TEXTILES    NAOSF US          -163112562.6   286535432.7
UNITED TEXTILES    NML1 GR           -163112562.6   286535432.7
UNITED TEXTILES    UTEX GA           -163112562.6   286535432.7
UNITED TEXTILES    UTEX EU           -163112562.6   286535432.7
UNITED TEXTILES    UTEX EO           -163112562.6   286535432.7
UNITED TEXTILES    UTEX PZ           -163112562.6   286535432.7
UNIVERSAL LEASIN   2581586Z LN       -28689717.99   155124932.2
UPC HOLDING BV     3590264Z NA       -14319465148   14013219901
UPP NOTTINGHAM L   1958934Z LN       -41006312.76   172101149.9
URBAN SPLASH GRO   4286109Z LN       -54469749.91     294837811
URBAS GRUPO FINA   UBSE S2           -58419335.21   112685124.5
URBAS GRUPO FINA   UBS EO            -58419335.21   112685124.5
URBAS GRUPO FINA   UZY GR            -58419335.21   112685124.5
URBAS GRUPO FINA   UBS NR            -58419335.21   112685124.5
URBAS GRUPO FINA   UBS S1            -58419335.21   112685124.5
URBAS GRUPO FINA   UBS EU            -58419335.21   112685124.5
URBAS GRUPO FINA   UBS SM            -58419335.21   112685124.5
URBAS GRUPO FINA   UBSE L3           -58419335.21   112685124.5
URBAS GRUPO FINA   UBS TQ            -58419335.21   112685124.5
URBAS GRUPO FINA   UBS IX            -58419335.21   112685124.5
URBAS GRUPO FINA   UBS EB            -58419335.21   112685124.5
URBAS GRUPO FINA   UBSE B3           -58419335.21   112685124.5
URBAS GUADAHERMO   URBZF US          -58419335.21   112685124.5
URBAS GUADAHERMO   UBSS PZ           -58419335.21   112685124.5
URBAS SA - RT      UBS/D SM          -58419335.21   112685124.5
US JUNCTION LTD    4448681Z LN       -34382425.75   143550635.9
USINES CHAUSSO-B   USCH FP           -23067631.26   249374198.4
USINES CHAUSSON    USCS FP           -23067631.26   249374198.4
UTC GROUP          UGR LN            -11904731.18   203553741.8
UTKILEN SHIPPING   4446161Z NO       -1914233.387   153603650.5
VALE DO LOBO - R   4764257Z PL       -77564257.57   440086474.5
VALEO SYSTEMES D   4518495Z FP       -154469722.8   354757514.5
VECTURA AS         4414505Z NO       -7960396.671   246417342.6
VEOLIA ES LANDFI   1377362Z LN       -21590467.78   361889226.2
VEOLIA TRANSPORT   4684377Z FP       -4105979.639   216367398.9
VEOLIA TRANSPORT   4030437Z NA       -12976610.13   100639002.5
VERNEUIL PARTICI   VRNL FP           -6937246.157   107314275.4
VERNEUIL PARTICI   VRNL EU           -6937246.157   107314275.4
VERNEUIL PARTICI   VRNL TQ           -6937246.157   107314275.4
VERNEUIL PARTICI   VRNL PZ           -6937246.157   107314275.4
VERNEUIL PARTICI   VRNLP L3          -6937246.157   107314275.4
VERNEUIL PARTICI   VRNLP S2          -6937246.157   107314275.4
VERNEUIL PARTICI   VRNL S1           -6937246.157   107314275.4
VERNEUIL PARTICI   VRNL EB           -6937246.157   107314275.4
VERNEUIL PARTICI   VRNL IX           -6937246.157   107314275.4
VERNEUIL PARTICI   TCNP IX           -6937246.157   107314275.4
VERNEUIL PARTICI   VRNLP B3          -6937246.157   107314275.4
VERNEUIL PARTICI   VRNL EO           -6937246.157   107314275.4
VERNEUIL PARTICI   VEPA FP           -6937246.157   107314275.4
VESTAS TECHNOLOG   1665752Z LN       -7519307.393   126222980.3
VETERIN - RIGHTS   VETR GA            -1446551773   135183840.6
VIA CAVOUR SRL     3997892Z IM        -1947582.88   168856438.8
VIALTIS            4730449Z FP       -2969942.626   141404113.3
VIMPEL SHIP-BRD    SOVP* RU          -8432780.313   229071575.4
VIMPEL SHIP-BRD    SOVP RU           -8432780.313   229071575.4
VINCENZO ZUCCHI    ZUCXAW IM         -1962546.592   214098163.1
VINK HOLDINGS LT   4380233Z LN       -13477512.44   132006628.3
VION FOOD GROUP    661873Z NA        -34576140.07    2937603388
VIOTER             VIOTF US             -23829660   155608222.9
VIOTER S.A.-RTS    BIOTR GA             -23829660   155608222.9
VIOTER SA-AUCTIO   BIOTE GA             -23829660   155608222.9
VIRGIN HOTELS GR   4288389Z LN        -30191617.1   109996972.6
VIRGIN MOB-ASSD    VMOC LN           -392176531.7   166074713.7
VIRGIN MOB-ASSD    VMOA LN           -392176531.7   166074713.7
VIRGIN MOBILE      VMOB PO           -392176531.7   166074713.7
VIRGIN MOBILE      UEM GR            -392176531.7   166074713.7
VIRGIN MOBILE      VGMHF US          -392176531.7   166074713.7
VIRGIN MOBILE      VMOB VX           -392176531.7   166074713.7
VIRGIN MOBILE HO   VMOB LN           -392176531.7   166074713.7
VIRIDOR WASTE EX   1428546Z LN       -22087452.25   120614872.4
VISTEON SYSTEMES   4699177Z FP       -21405018.49   207862872.9
VNG NORGE AS       4513147Z NO       -87651824.24   256963958.9
VOLGABURMASH-BRD   VBUM* RU          -5816650.701     163044289
VOLGABURMASH-BRD   VBUM RU           -5816650.701     163044289
VOLGOGAZ-BRD       VLGG RU           -24509870.89   105172892.8
VOLGOGAZ-BRD       VLGG* RU          -24509870.89   105172892.8
VOLGOGRAD - PFD    VGSBP* RU          -29565028.8   369623522.9
VOLGOGRAD - PFD    VGSBP RU           -29565028.8   369623522.9
VOLGOGRAD - PFD    VGSBPG RU          -29565028.8   369623522.9
VOLGOGRAD - PFD    VGSBP RM           -29565028.8   369623522.9
VOLGOGRAD ENERGO   VGSB RM            -29565028.8   369623522.9
VOLGOGRAD ENERGO   VGSBG RU           -29565028.8   369623522.9
VOLGOGRAD ENERGO   VGSB* RU           -29565028.8   369623522.9
VOLGOGRAD ENERGO   VGSB RU            -29565028.8   369623522.9
VOLGOGRAD KHIM     VHIM* RU          -126558518.8   153595253.5
VOLGOGRAD KHIM     VHIM RU           -126558518.8   153595253.5
VOLKER WESSE-CVA   VWSTC VX          -395744.3147    4036389300
VOLKER WESSE-CVA   VSTNC NA          -395744.3147    4036389300
VOLKER WESSE-CVA   KKJKF US          -395744.3147    4036389300
VOLKER WESSEL-N    VSTNN NA          -395744.3147    4036389300
VOLKER WESSEL-ST   VSTS NA           -395744.3147    4036389300
VOLKER WESSELS-D   VWSS NA           -395744.3147    4036389300
VOLKER WESSELS-D   69467Q NA         -395744.3147    4036389300
VOLKERWESSELS BO   4062101Z NA       -51019.30189     164200797
VOLUTION GROUP     FANEUR EO         -20561799.02   327437694.9
VOLUTION GROUP     FAN LN            -20561799.02   327437694.9
VOLUTION GROUP     FANEUR EU         -20561799.02   327437694.9
VOLUTION GROUP     FANL S2           -20561799.02   327437694.9
VOLUTION GROUP     FANL B3           -20561799.02   327437694.9
VOLUTION GROUP     FANL L3           -20561799.02   327437694.9
VOLUTION GROUP     FANGBX EO         -20561799.02   327437694.9
VOLUTION GROUP     FANGBX EU         -20561799.02   327437694.9
VOLUTION GROUP     FANL IX           -20561799.02   327437694.9
VOLUTION GROUP     FANL EB           -20561799.02   327437694.9
VOLUTION GROUP     FANL S1           -20561799.02   327437694.9
VOLUTION GROUP     VO1 GR            -20561799.02   327437694.9
VOLUTION GROUP     FANL BQ           -20561799.02   327437694.9
VOLUTION GROUP P   4453393Z LN       -20561799.02   327437694.9
VORWERK & CO KG    VORW GR           -1423024.853    5009284697
VOYAGE GROUP LTD   4168725Z LN       -89544630.84   572211682.5
VT SUPPORT SERVI   1761897Z LN       -3791466.085   345328841.8
VUE ENTERTAINMEN   4514631Z LN         -116156914   894935082.8
W2005 W2007 CARN   3824100Z NA       -90774192.62   313655754.3
WARNER CHILCOT-A   G3LA TH             -427000000    3832000000
WARNER CHILCOT-A   G3LA GR             -427000000    3832000000
WARNER CHILCOT-A   G3L GR              -427000000    3832000000
WARNER CHILCOT-A   WCRX US             -427000000    3832000000
WARNER CHILCOT-A   WCRXEUR EO          -427000000    3832000000
WARNER CHILCOT-A   WCRXEUR EU          -427000000    3832000000
WARNER MUSIC GRO   3809048Z ID       -104416.9967   209719016.9
WATERFORD - RTS    WWWA ID           -505729895.2     820803256
WATERFORD - RTS    WWWB ID           -505729895.2     820803256
WATERFORD - RTS    WWWA GR           -505729895.2     820803256
WATERFORD - RTS    WWWB GR           -505729895.2     820803256
WATERFORD - RTS    508523Q LN        -505729895.2     820803256
WATERFORD - RTS    508519Q LN        -505729895.2     820803256
WATERFORD CRYSTA   4459209Z ID       -150437387.1   114109583.5
WATERFORD W-ADR    WATWY US          -505729895.2     820803256
WATERFORD WDGEWD   WATFF US          -505729895.2     820803256
WATERFORD WDGEWD   WATWF US          -505729895.2     820803256
WATERFORD WE-RTS   WTFN LN           -505729895.2     820803256
WATERFORD WE-RTS   WTFN ID           -505729895.2     820803256
WATERFORD WE-RTS   WTFN VX           -505729895.2     820803256
WATERFORD WE-RTS   WTFF ID           -505729895.2     820803256
WATERFORD WE-RTS   WTFF LN           -505729895.2     820803256
WATERFORD WED-RT   586552Q LN        -505729895.2     820803256
WATERFORD WED-RT   586556Q LN        -505729895.2     820803256
WATERFORD WED-RT   WWWD GR           -505729895.2     820803256
WATERFORD WED-RT   WTFR LN           -505729895.2     820803256
WATERFORD WED-RT   WWWC GR           -505729895.2     820803256
WATERFORD WED-RT   WWWC ID           -505729895.2     820803256
WATERFORD WED-RT   WWWD ID           -505729895.2     820803256
WATERFORD WED-UT   WTFUGBX EO        -505729895.2     820803256
WATERFORD WED-UT   WTFUGBX EU        -505729895.2     820803256
WATERFORD WED-UT   WTFU ID           -505729895.2     820803256
WATERFORD WED-UT   WTFU LN           -505729895.2     820803256
WATERFORD WED-UT   WTFU EU           -505729895.2     820803256
WATERFORD WED-UT   WTFU PO           -505729895.2     820803256
WATERFORD WED-UT   WTFU EO           -505729895.2     820803256
WATERFORD WED-UT   WWWD PZ           -505729895.2     820803256
WATERFORD WED-UT   WTFU VX           -505729895.2     820803256
WATERFORD WED-UT   WTFU IX           -505729895.2     820803256
WATERFORD WED-UT   WWW PO            -505729895.2     820803256
WATERFORD WED-UT   WWW GR            -505729895.2     820803256
WATERFORD-ADR UT   WATFZ US          -505729895.2     820803256
WATERFORD-ADR UT   WFWA GR           -505729895.2     820803256
WATERFORD-SUB      3001875Z ID       -505729895.2     820803256
WATSON & PHILIP    WTSN LN             -120493900   252232072.9
WEATHERFORD FRAN   3633107Z FP       -7947479.354     100318950
WESCOT TOPCO LTD   4007020Z LN       -24133448.87   109740838.3
WEST HAM UNITED    1275834Z LN       -180012199.9   135176063.9
WESTA INTERNATIO   WESW B3              -58977000     246108992
WESTA INTERNATIO   WESW L3              -58977000     246108992
WESTA INTERNATIO   WESW S2              -58977000     246108992
WESTAISIC          WESPLN EO            -58977000     246108992
WESTAISIC          WES PW               -58977000     246108992
WESTAISIC          WESPLN EU            -58977000     246108992
WHELCO HOLDINGS    2741744Z LN       -1295294.241   100785295.7
WHITE HART LANE    2004631Z LN       -1123372.612   151053464.8
WILLIAM HILL CRE   1068754Z LN       -1946504.998   266028437.2
WILLIAM HILL-W/I   605547Q US        -59180694.37    1343662688
WILLIAM HILL-W/I   101001Q LN        -59180694.37    1343662688
WINCANTON PL-ADR   WNCNY US          -434506999.9   685414924.1
WINCANTON PLC      WIN1 BQ           -434506999.9   685414924.1
WINCANTON PLC      WIN1 TQ           -434506999.9   685414924.1
WINCANTON PLC      WIN1 QM           -434506999.9   685414924.1
WINCANTON PLC      WIN1GBP EO        -434506999.9   685414924.1
WINCANTON PLC      WIN1 EB           -434506999.9   685414924.1
WINCANTON PLC      WINL S2           -434506999.9   685414924.1
WINCANTON PLC      WIN1 S1           -434506999.9   685414924.1
WINCANTON PLC      WINL B3           -434506999.9   685414924.1
WINCANTON PLC      WIN1EUR EU        -434506999.9   685414924.1
WINCANTON PLC      WIN PZ            -434506999.9   685414924.1
WINCANTON PLC      WIN1USD EU        -434506999.9   685414924.1
WINCANTON PLC      WNCNF US          -434506999.9   685414924.1
WINCANTON PLC      WIN1EUR EO        -434506999.9   685414924.1
WINCANTON PLC      WINL L3           -434506999.9   685414924.1
WINCANTON PLC      WIN1USD EO        -434506999.9   685414924.1
WINCANTON PLC      WIN10 EO          -434506999.9   685414924.1
WINCANTON PLC      WIN13 EO          -434506999.9   685414924.1
WINCANTON PLC      WIN1 NQ           -434506999.9   685414924.1
WINCANTON PLC      WIN7 EO           -434506999.9   685414924.1
WINCANTON PLC      WIN LN            -434506999.9   685414924.1
WINCANTON PLC      WIN PO            -434506999.9   685414924.1
WINCANTON PLC      WIN11 EO          -434506999.9   685414924.1
WINCANTON PLC      WIN6 EO           -434506999.9   685414924.1
WINCANTON PLC      WIN4 EO           -434506999.9   685414924.1
WINCANTON PLC      WIN8 EO           -434506999.9   685414924.1
WINCANTON PLC      WIN1 EU           -434506999.9   685414924.1
WINCANTON PLC      WIN12 EO          -434506999.9   685414924.1
WINCANTON PLC      WIN9 EO           -434506999.9   685414924.1
WINCANTON PLC      WIN IX            -434506999.9   685414924.1
WINCANTON PLC      WIN5 EO           -434506999.9   685414924.1
WINCANTON PLC      WIN VX            -434506999.9   685414924.1
WINCANTON PLC      WIN1 EO           -434506999.9   685414924.1
WINDSOR TELEVISI   1475394Z LN       -284777809.5   341907343.5
WOLSELEY FRANCE    4736457Z FP       -7709175.401     626902917
XCHANGING UK LTD   1814130Z LN       -63394768.74   447098103.7
XFERA MOVILE SA    1236Z SM          -163864345.4    1641307422
XSTRATA SERVICES   1975918Z LN       -2581782.821   151944610.4
YANG MING UK LTD   1756777Z LN       -82951196.78   273789409.4
YASARBANK          YABNK TI          -948074542.1   622746433.4
YELL GROUP PLC     YELL VX            -2257521127    2120614224
YELL GROUP PLC     YELL PO            -2257521127    2120614224
YELL GROUP PLC     YELL NQ            -2257521127    2120614224
YELL GROUP PLC     YELL LN            -2257521127    2120614224
YELL GROUP PLC     YELL PZ            -2257521127    2120614224
YELL GROUP- SUB    3449192Z LN        -2257521127    2120614224
YELL LTD           1941670Z LN        -1194529772   559974497.4
YORK REFRIGERATI   1846666Z LN       -33510192.51    1093012767
YPSO FRANCE SAS    711227Z FP        -636950566.9    3718583352
YUASA BATTERY UK   1449090Z LN       -7606058.565   109145700.5
ZAPORIZHFERO-GDR   621176Z LX        -13433738.24   273876108.6
ZAPORIZHFERO-GDR   0697025D GR       -13433738.24   273876108.6
ZAPORIZHFEROSPLA   ZFER UZ           -13433738.24   273876108.6
ZERNOVAYA KOMPAN   ONAST RU          -37454792.73   659984505.1
ZIL AUTO PLANT     ZILL$ RU          -237320797.3   371525868.1
ZIL AUTO PLANT-P   ZILLP RM          -237320797.3   371525868.1
ZIL AUTO PLANT-P   ZILLP RU          -237320797.3   371525868.1
ZIL AUTO PLANT-P   ZILLP* RU         -237320797.3   371525868.1
ZINVEST FASHION    3775412Z NA       -296493.9562   180637333.9
ZKD-BRD            ZKRD RU           -21363755.99   173276357.4
ZKD-BRD            ZKRD* RU          -21363755.99   173276357.4
ZUCCHI - RTS       ZUCAZEUR EU       -1962546.592   214098163.1
ZUCCHI - RTS       ZUCAZEUR EO       -1962546.592   214098163.1
ZUCCHI - RTS       ZUCAZA IM         -1962546.592   214098163.1
ZUCCHI,VINC- RSP   ZUCR TQ           -1962546.592   214098163.1
ZUCCHI,VINC- RSP   ZUCRM L3          -1962546.592   214098163.1
ZUCCHI,VINC- RSP   ZUCRM B3          -1962546.592   214098163.1
ZUCCHI,VINC- RSP   ZUCR IM           -1962546.592   214098163.1
ZUCCHI,VINC- RSP   ZUCN IX           -1962546.592   214098163.1
ZUCCHI,VINC- RSP   ZUCR EO           -1962546.592   214098163.1
ZUCCHI,VINC- RSP   ZUCRM S2          -1962546.592   214098163.1
ZUCCHI,VINC- RSP   ZUCR EU           -1962546.592   214098163.1
ZUCCHI,VINC- RSP   ZUCR PZ           -1962546.592   214098163.1
ZUCCHI,VINC- RSP   ZUCS IM           -1962546.592   214098163.1
ZUCCHI,VINCENZO    ZUCM S2           -1962546.592   214098163.1
ZUCCHI,VINCENZO    ZUC EU            -1962546.592   214098163.1
ZUCCHI,VINCENZO    ZUCI IX           -1962546.592   214098163.1
ZUCCHI,VINCENZO    ZUC EB            -1962546.592   214098163.1
ZUCCHI,VINCENZO    ZUC IX            -1962546.592   214098163.1
ZUCCHI,VINCENZO    ZUC EO            -1962546.592   214098163.1
ZUCCHI,VINCENZO    ZUC PZ            -1962546.592   214098163.1
ZUCCHI,VINCENZO    ZUCM L3           -1962546.592   214098163.1
ZUCCHI,VINCENZO    ZUCM B3           -1962546.592   214098163.1
ZUCCHI,VINCENZO    ZUC S1            -1962546.592   214098163.1
ZUCCHI,VINCENZO    ZUC TQ            -1962546.592   214098163.1
ZUCCHI,VINCENZO    ZUC BQ            -1962546.592   214098163.1
ZUCCHI,VINCENZO    ZUC QM            -1962546.592   214098163.1
ZUCCHI,VINCENZO    ZUC IM            -1962546.592   214098163.1
ZUCCHI,VINCENZO    VIZUF US          -1962546.592   214098163.1
ZURICH EMPLOYMEN   1292298Z LN         -571647918   152143800.5
ZVON ENA HOLDING   ZVHR PZ           -304033160.5   774883403.9
ZVON ENA HOLDING   ZVHR EU           -304033160.5   774883403.9
ZVON ENA HOLDING   ZVHR SV           -304033160.5   774883403.9
ZVON ENA HOLDING   ZVHR EO           -304033160.5   774883403.9
ZWINGER OPCO 6 B   3821644Z NA       -103722296.7   611138495.1


Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than US$3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through  Go to order any title today.


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-Europe is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Valerie U. Pascual, Marites O. Claro, Rousel Elaine T. Fernandez,
Joy A. Agravante, Ivy B. Magdadaro, and Peter A. Chapman, Editors.

Copyright 2015.  All rights reserved.  ISSN 1529-2754.

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.

The TCR Europe subscription rate is US$775 per half-year,
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 or Nina Novak at

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