TCRLA_Public/071004.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                    L A T I N   A M E R I C A

          Thursday, October 4, 2007, Vol. 8, Issue 197

                          Headlines

A R G E N T I N A

ALITALIA SPA: Intesa-Sanpaolo Hopes for Effective Rescue Plan
ALITALIA SPA: Resumes Stake Sale Talks with AirOne SpA
ALTERNATIVA MEDICA: Proofs of Claim Verification Ends on Oct. 25
ARGENTINA ROLLFORMING: Claims Verification Deadline Is Nov. 28
DALEGOL SRL: Proofs of Claim Verification Is Until Tomorrow

INSTITUTO HISPANO: Trustee Filing Individual Reports on Feb. 11
IRON MOUNTAIN: Acquires RMS Services for US$27 Million
KONINKLIJKE AHOLD: Faces Racketeering Complaint in Illinois
KONINKLIJKE AHOLD: Reacquires Common Shares for EUR119.2 Million
LOMAS DE SAN ANTONIO: Claims Verification Deadline Is Tomorrow

MICROCOMP SA: Holding Informative Assembly on June 10, 2008
PLANETOUT INC: Reverse One-for-Ten Stock Split Takes Effect
SANATORIO EL BUEN: Proofs of Claim Verification Ends Tomorrow
SCO GROUP: Court Approves Epiq Bankruptcy as Claims Agent
SCO GROUP: Section 341(a) Creditors Meeting Set for Oct. 18

SHUMIS SA: Trustee Verifies Proofs of Claim Until Nov. 22
TOP NUT: Proofs of Claim Verification Is Until Nov. 1
VERA JUAN: Proofs of Claim Verification Deadline Is Nov. 26


B E R M U D A

FOSTER WHEELER: Bags EPC Pact for ExxonMobil's Chemical Project
SNOWBALL MULTI: Proofs of Claim Must be Filed by Oct. 5
STEINHARDT REALTY: Proofs of Claim Filing Is Until Tomorrow


B O L I V I A

* BOLIVIA: State Miner Seeking US$100-Mil. Loan for Corocoro


B R A Z I L

ALLIANCE ONE: Exchange Offer for 8-1/2% Senior Notes Expires
AMERICAN AIRLINES: Intends to Prepay US$545 Mln in Aircraft Debt
BANCO NACIONAL: President Suggests BRL100-Billion Lending Goal
BANCO NACIONAL: Supports Picker Cooperatives with BRL16.4MM Fund
GENERAL MOTORS: Lehman Bros. Maintains Equal Weight Rating

INTERNATIONAL RECTIFIER: Alex Lidow Steps Down as CEO & Director
INTERNATIONAL RECTIFIER: Discloses Key Internal Initiatives
KENDLE INTERNATIONAL: Names Ken Hintze as Vice President
NVIDIA CORP: S&P Affirms BB- Corp. Rating with Stable Outlook
REMY INT'L: Noteholders Support Prepackaged Reorganization Plan

SOLECTRON CORP: Fitch Upgrades & Withdraws Ratings
SOLECTRON CORP: Moody's Puts Ba1 Rating on US$1.75 Bln Term Loan

* BRAZIL: Companhia Vale Bids for Railway Concession
* BRAZIL: State Firm Extends Partnership with Peruvian Companies


C A Y M A N   I S L A N D S

ACACIA CDO: Proofs of Claim Filing Deadline Is Oct. 20
AL-FANAR INVESTMENT: Proofs of Claim Must be Filed by Oct. 19
ALEX LEASING: Proofs of Claim Filing Ends on Oct. 18
ASSET COLLATERALISATION: Final Shareholders Meeting Is Today
CAERUS FUND: Proofs of Claim Filing Is Until Oct. 20

CAERUS OFFSHORE: Proofs of Claim Filing Ends on Oct. 20
HARBOR 2006-2: Proofs of Claim Must be Filed Today
HARRISON CLO: Proofs of Claim Filing Deadline Is Today
MACQUARIE FINANCIAL: Proofs of Claim Filing Is Until Today
NLA II (CAYMAN): Proofs of Claim Filing Deadline Is Oct. 18

NO LOAN: Proofs of Claim Filing Ends on Oct. 18
OPPORTUNITIES JAPAN: Proofs of Claim Must be Filed by Oct. 20
PARMALAT SPA: Sees Citigroup Trial Starting in March 2008
PRINCIPAL PROTECTED: Proofs of Claim Filing Ends Today
SIRIOS OVERSEAS: Proofs of Claim Filing Deadline Is Today

STERLING EQUITY: Proofs of Claim Filing Ends Today
STONE HOLDINGS: Proofs of Claim Must be Filed Today
TRIAXX FUNDING: Proofs of Claim Filing Is Until Oct. 20
VENUS INVESTMENT: Proofs of Claim Filing Ends Today
WAVELENGTH EQUITY: Proofs of Claim Must be Filed by Oct. 19

ZEBRA US: Proofs of Claim Filing Deadline Is Today


C H I L E

IRON MOUNTAIN: Expands in South Africa with Channel Data
TECH DATA: Expands Computing Solutions with VXL Thin Clients


C O L O M B I A

PARKER DRILLING: Improved Performance Spurs S&P to Lift Ratings
SUN MICROSYSTEMS: Revamping Pact with LatAm Dev't Partners


D O M I N I C A N   R E P U B L I C

AES CORP: NY Attorney General Wants Greenhouse Risks Disclosed
FREESTAR TECHNOLOGY: Russell Bedford Raises Going Concern Doubt


E L   S A L V A D O R

EXIDE TECH: US$91.7 Million Rights Offering Expires


H O N D U R A S

LEAR CORP: Names Matthew Simoncini as Chief Financial Officer


J A M A I C A

AIR JAMAICA: Will Address Lost & Delayed Luggage by Dec. 25
SUGAR COMPANY: Jamaican Cabinet Approves Negotiating Team


M E X I C O

ACXIOM CORP: Charles Morgan to Retire from Chairmanship
COTT CORP: S&P Revises CreditWatch Implications to Negative
EL POLLO: S&P Downgrades Corporate Credit Rating to B-
FLEXTRONICS INT'L: Reports Final Results of Elections for Merger
FLEXTRONICS INT'L: Solectron Purchase Cues Fitch to Affirm Rtgs.

FLEXTRONICS INT'L: Moody's Puts Ba1 Rating on US$1.75-Bil. Loan
MUNICIPALITY OF COLIMA: Moody's Ups Global Issuer Rating to Ba2


P A N A M A

SOLO CUP: Hires Scott Advertising as Creative Agency


P E R U

* PERU: State Firms Extends Partnership with Petroleo Brasileiro


P U E R T O   R I C O

CARIBBEAN RESTAURANTS: S&P Revises Rating Outlook to Negative
MICRON TECH: Posts US$320 Million Net Loss in Year Ended Aug. 30
MYLAN LABS: Acquires Generics Business of Merck KGaA
MYLAN LABS: Appoints David A. Lillback Sr. VP & HR Global Head
MYLAN LABS: Appoints Didier Barret as President of EMEA

NUTRITIONAL SOURCING: Court OKs Mesirow Financial as Consultant
UNIVISION COMM: Promotes Cesar Conde to Executive Vice President


S T  L U C I A

AIR JAMAICA: Will Launch New York-St. Lucia Daily Flights


V E N E Z U E L A

LEAR CORP: Names Matthew J. Simoncini Chief Financial Officer
PETROLEOS DE VENEZUELA: Leading NatGas Exploration Projects
PETROLEOS DE VENEZUELA: Pay Package Falls Short of Union Demand
PETROLEOS DE VENEZUELA: To Decide on Foreign Firm Compensation

* VENEZUELA: Entry into Mercosur Put on Hold


                         - - - - -


=================
A R G E N T I N A
=================


ALITALIA SPA: Intesa-Sanpaolo Hopes for Effective Rescue Plan
-------------------------------------------------------------
Intesa-Sanpaolo S.p.A. chief executive Corrado Passera hopes
that Alitalia S.p.A.'s business plan could make it more
competitive and keep its Italian identity, Reuters reports,
citing the bank's CEO Corrado Passera.

"We hoped to see a long-term industrial project that can allow
Italy to have a successful company," Mr. Passera told Reuters.
"We think that it is in the country's interest to have a
company's decisional headquarters."

"We feel particularly engaged when we see the possibility of a
good turnaround plan, even when they are difficult ones."

Intesa-Sanpaolo was AirOne S.p.A.'s financial backer for the
latter's bid until they pulled out from the race citing lack of
relevant information.  AirOne has restarted sale talks to
acquire Italy's 49.9% stake in Alitalia.

                       About Alitalia

Headquartered in Rome, Italy, Alitalia S.p.A. --
http://www.alitalia.it/ -- provides air travel services for
passengers and air transport of cargo on national, international
and inter-continental routes.  The Italian government owns 49.9%
of Alitalia.  The company has operations in Argentina.

Despite a EUR1.4 billion state-backed restructuring in 1997,
Alitalia posted net losses of EUR256 million and EUR907 million
in 2000 and 2001 respectively.  Alitalia posted EUR93 million in
net profits in 2002 after a EUR1.4 billion capital injection.
The carrier booked annual net losses of EUR520 million in 2003,
EUR813 million in 2004, EUR168 million in 2005, and EUR625.6
million in 2006.


ALITALIA SPA: Resumes Stake Sale Talks with AirOne SpA
------------------------------------------------------
AirOne S.p.A. has restarted talks to acquire the Italian
government's 49.9% stake in Alitalia S.p.A., various reports
say.

According to Bloomberg News, AirOne has held a "technical
meeting" with Citigroup Inc., Alitalia's sale advisor.

The Financial Times notes that AirOne's AP Holding S.p.A. was
the last to pull out from failed auction to acquire Italy's
39.9% stake.

As reported on Sept. 13, 2007, Alitalia chairman Maurizio Prato
plans to complete the sale of Italy's stake in the troubled
carrier by December 2007.  Mr. Prato told Il Sole 24 Ore that
advisor Citigroup has initiated contacts with parties that had
participated in the failed auction for Italy's stake in Alitalia
and with Asian firms.

The chairman expects the first rounds of meeting to be complete
by end of September or early October, Il Sole relates.  Mr.
Prato will conduct a first selection among potential buyers by
the end of October before starting an evaluation phase.

Italian Deputy Prime Minister Francesco Rutelli expressed
support to a possible bid by AirOne, saying it was the most
sensible solution for the flag carrier, La Stampa relates.

Pierluigi Bersani, Italy's economic development minister, also
expressed support to an Italian acquisition, but noted that the
final decision lies on Alitalia's owners and prime minister
Romano Prodi, who is reportedly backing Air France-KLM, La
Stampa adds.

                       About Alitalia

Headquartered in Rome, Italy, Alitalia S.p.A. --
http://www.alitalia.it/ -- provides air travel services for
passengers and air transport of cargo on national, international
and inter-continental routes.  The Italian government owns 49.9%
of Alitalia.  The company has operations in Argentina.

Despite a EUR1.4 billion state-backed restructuring in 1997,
Alitalia posted net losses of EUR256 million and EUR907 million
in 2000 and 2001 respectively.  Alitalia posted EUR93 million in
net profits in 2002 after a EUR1.4 billion capital injection.
The carrier booked annual net losses of EUR520 million in 2003,
EUR813 million in 2004, EUR168 million in 2005, and EUR625.6
million in 2006.


ALTERNATIVA MEDICA: Proofs of Claim Verification Ends on Oct. 25
----------------------------------------------------------------
Marcela Adriana Mason, the court-appointed trustee for
Alternativa Medica SA's bankruptcy proceeding, verifies
creditors' proofs of claim until Oct. 25, 2007.

Ms. Mason will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 4 in Buenos Aires, with the assistance of Clerk
No. 8, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections
and challenges that will be raised by Alternativa Medica and its
creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Alternativa Medica's
accounting and banking records will be submitted in court.

La Nacion didn't state the reports submission deadlines.

Ms. Mason is also in charge of administering Alternativa
Medica's assets under court supervision and will take part in
their disposal to the extent established by law.

The debtor can be reached at:

       Alternativa Medica SA
       Alsina 943
       Buenos Aires, Argentina

The trustee can be reached at:

       Marcela Adriana Mason
       Viamonte 1337
       Buenos Aires, Argentina


ARGENTINA ROLLFORMING: Claims Verification Deadline Is Nov. 28
--------------------------------------------------------------
Jose Maria Colace, the court-appointed trustee for Argentina
Rollforming S.A.'s bankruptcy proceeding, verifies creditors'
proofs of claim until Nov. 28, 2007.

Mr. Colace will present the validated claims in court as
individual reports on Dec. 28, 2007.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the
trustee's opinion, and the objections and challenges that will
be raised by Argentina Rollforming and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Argentina
Rollforming's accounting and banking records will be submitted
in court on March 13, 2008.

Mr. Colace is also in charge of administering Argentina
Rollforming's assets under court supervision and will take part
in their disposal to the extent established by law.

The trustee can be reached at:

       Jose Maria Colace
       Bernardo de Irigoyen 330
       Buenos Aires, Argentina


DALEGOL SRL: Proofs of Claim Verification Is Until Tomorrow
-----------------------------------------------------------
Reinaldo Cesar Pireni, the court-appointed trustee for Dalegol
S.R.L.'s bankruptcy proceeding, verifies creditors' proofs of
claim until Oct. 5, 2007.

Mr. Pireni will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance in Buenos Aires will determine if the verified claims
are admissible, taking into account the trustee's opinion, and
the objections and challenges that will be raised by Dalegol and
its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Dalegol's accounting
and banking records will be submitted in court.

Mr. Pireni is also in charge of administering Dalegol's assets
under court supervision and will take part in their disposal to
the extent established by law.

The trustee can be reached at:

        Reinaldo Cesar Pireni
        Avenida Callao 930
        Buenos Aires, Argentina


INSTITUTO HISPANO: Trustee Filing Individual Reports on Feb. 11
---------------------------------------------------------------
Pablo Daniel Exposito, the court-appointed trustee for Instituto
Hispano Argentino S.R.L.'s bankruptcy proceeding, will present
creditors' validated claims as individual reports in the
National Commercial Court of First Instance in Buenos Aires on
Feb. 11, 2008.

The court will determine if the verified claims are admissible,
taking into account the trustee's opinion and the objections and
challenges raised by Instituto Hispano and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

Mr. Exposito verifies creditors' proofs of claim until
Nov. 23, 2007.

Mr. Exposito will also submit to court a general report
containing an audit of Instituto Hispano's accounting and
banking records on March 26, 2008.

The trustee can be reached at:

         Pablo Daniel Exposito
         Avenida Cordoba 859
         Buenos Aires, Argentina


IRON MOUNTAIN: Acquires RMS Services for US$27 Million
------------------------------------------------------
Iron Mountain Incorporated has acquired RMS Services - USA,
Inc., a US$27 million records management company and the
provider of outsourced file room solutions for hospitals. Terms
of the deal were not disclosed.

For more than 30 years, RMS' vision has been to help large
healthcare systems improve organizational performance and
operating results through comprehensive, next-generation file-
room and film-library management solutions.  RMS, like Iron
Mountain, has deployed innovative records management services
that drive operational savings and immediate customer benefits,
and that assist in the transition to an electronic environment.

"Iron Mountain and RMS have a shared passion and vision of
making electronic medical records a reality," said Mark Rempe,
vice president of Health Information Services, Iron Mountain.
"RMS' enterprise-wide file room and film library solutions
complement Iron Mountain's current health information services
solutions, and further helps to solve the evolving challenges of
healthcare providers that are transitioning to electronic health
records.  Furthermore, RMS is a proven innovator in the hospital
medical records management industry and Iron Mountain will
benefit from the addition of the Company's talented and tenured
executive team."

Iron Mountain will be retaining former RMS employees and is
committed to ensuring that customers will be supported by the
same hard-working staff that presently services their accounts.
Additionally, Ed Santangelo, former RMS president and CEO, as
well as his leadership team, will be joining Iron Mountain.  Mr.
Santangelo will become president of Health Information Services
Consulting.

"Over the past two years, RMS has experienced significant growth
and our clients have confidence in our knowledge and ability to
support their transition to electronic records management," said
Mr. Santangelo.  "Iron Mountain understands our value
proposition, as well as the healthcare market, and has the
geographic footprint and capital to finance our growth and to
support and retain our client base."

Both Iron Mountain and RMS have years of experience in
delivering comprehensive health information management solutions
that meet the unique file room and film management challenges of
healthcare providers -- such as managing both physical and
digital records simultaneously, enabling timely access to
patient records, and complying with ever-growing patient-privacy
and records-management regulations. Over the past 20 years, Iron
Mountain has served more than 45,000 healthcare accounts in
North America, including 2,000 hospitals.

                     About Iron Mountain

Headquartered in Boston, Massachusetts, Iron Mountain
Incorporated is an international provider of information storage
and protection related services.  The company offers
comprehensive records management and data protection solutions,
along with the expertise to address complex information
challenges such as rising storage costs, litigation, regulatory
compliance and disaster recovery.  Founded in 1951, Iron
Mountain has more than 90,000 corporate clients throughout North
America, Europe, Latin America, and Asia Pacific.  Revenue for
the twelve months ended Dec. 31, 2006, was approximately US$2.4
billion. Its Latin American operations are located in Argentina,
Brazil, Chile, Mexico and Peru.

As reported in the Troubled Company Reporter-Latin America on
Mar. 19, 2007, Moody's Investors Service assigned a Ba2 rating
to the proposed US$800 million senior secured credit facilities
of Iron Mountain Inc.  Concurrently, Moody's affirmed other
ratings and changed the outlook for the ratings to positive.
The positive outlook recognizes continued strength in operating
performance, including increases in the rate of growth in
storage revenues in recent quarters, and anticipates improved
covenant cushions under the proposed credit facilities.  The
positive outlook also incorporates Moody's expectation that,
given the current market position of the company, the size of
future acquisitions is likely to be smaller on a relative basis
than was the case in prior years.  Moody's expects the company
to continue to pursue an acquisitive strategy.


KONINKLIJKE AHOLD: Faces Racketeering Complaint in Illinois
-----------------------------------------------------------
Koninklijke Ahold N.V., U.S. Foodservice, Gordon Redgate and
Brady Schofield face a racketeering complaint filed
Aug. 24, 2007, in the U.S. District Court for the Eastern
District of Illinois, the CourtHouse News Service reports.

Named plaintiff Thomas & King, Inc. accuses defendants of
inflating customers' prices through shell companies, sham
transactions and phony invoice.

The suit is Thomas & King, Inc. v. Koninklijke Ahold N.V. et
al., Case No. 3:07-cv-00608-DRH-PMF, filed in the U.S. District
Court for the Eastern District of Illinois, under Judge David R.
Herndon, with referral to Judge Philip M. Frazier.

Representing the plaintiffs are:

          Richard Laurence Macon
          Karen K. Gulde
          Akin, Gump et al. - San Antonio
          300 Convent Street, Suite 1600
          San Antonio, TX 78205
          Tel: (210) 281-7222 or (210) 281-7055

          Todd M. Stenerson
          Richard L. Wyatt, Jr.
          Akin, Gump et al. - Washington
          1333 New Hampshire Avenue, N.W., Suite 400
          Washington, DC 20036
          Tel: (202) 887-4000
          Fax: (202) 887-4288

          Patricia S. Murphy
          Murphy Law Office
          Generally Admitted
          Post Office Box 220
          Energy, IL 62933-0220
          Tel: (618) 964-9640

Headquartered in Amsterdam, Koninklijke Ahold N.V. (fka Royal
Ahold) -- http://www.ahold.com/-- retails food through
supermarkets, hypermarkets and discount stores in North and
South America, Europe.  It has operations in Argentina.  The
company's chain stores include Stop & Shop, Giant, TOPS, Albert
Heijn and Bompreco.  Ahold also supplies food to restaurants,
hotels, healthcare institutions, government facilities,
universities, stadiums, and caterers.

                        *     *     *

Moody's Investors Service, in May 2007, placed the Ba1 Corporate
Family Rating and the Ba1 Senior Unsecured Long-Term Rating of
Koninklijke Ahold N.V. on review for possible upgrade.


KONINKLIJKE AHOLD: Reacquires Common Shares for EUR119.2 Million
----------------------------------------------------------------
Koninklijke Ahold N.V. has repurchased 11,702,830 of its own
common shares in the period from Sept. 10, 2007, up to and
including Sept. 14, 2007.

Shares were repurchased at an average price of EUR10.1821 per
share for a total amount of EUR119.2 million.  These repurchases
were made as part of the EUR1 billion share buyback program
announced on Aug. 30, 2007.

The total number of shares repurchased under this program to
date is 22,258,162 common shares for a total consideration of
EUR225.7 million.

Headquartered in Amsterdam, Koninklijke Ahold N.V. (fka Royal
Ahold) -- http://www.ahold.com/-- retails food through
supermarkets, hypermarkets and discount stores in North and
South America, Europe.  It has operations in Argentina.  The
company's chain stores include Stop & Shop, Giant, TOPS, Albert
Heijn and Bompreco.  Ahold also supplies food to restaurants,
hotels, healthcare institutions, government facilities,
universities, stadiums, and caterers.

                        *     *     *

Moody's Investors Service, in May 2007, placed the Ba1 Corporate
Family Rating and the Ba1 Senior Unsecured Long-Term Rating of
Koninklijke Ahold N.V. on review for possible upgrade.


LOMAS DE SAN ANTONIO: Claims Verification Deadline Is Tomorrow
--------------------------------------------------------------
Juan Carlos De La Piedra, the court-appointed trustee for Lomas
de San Antonio S.A.'s reorganization proceeding, verifies
creditors' proofs of claim on Oct. 5, 2007.

Mr. De La Piedra will present the validated claims in court as
individual reports on Nov. 16, 2007.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the
trustee's opinion, and the objections and challenges that will
be raised by Lomas de San Antonio and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Clinica Privada's
accounting and banking records will be submitted in court on
Feb. 4, 2008.

Mr. De La Piedra is also in charge of administering Lomas de San
Antonio's assets under court supervision and will take part in
their disposal to the extent established by law.

The trustee can be reached at:

         Juan Carlos De La Piedra
         Avenida Juan B. Justo 5096
         Buenos Aires, Argentina


MICROCOMP SA: Holding Informative Assembly on June 10, 2008
-----------------------------------------------------------
Microcomp SA's creditors will vote on the company's completed
settlement plan during an informative assembly on
June 10, 2008.

Norma Fistzen, the court-appointed trustee for Agroimpulso
Cereales' reorganization proceeding, verified creditors' proofs
of claim until Oct. 1, 2007.  She presented the validated claims
in court as individual reports and submitted a general report
containing an audit of the company's accounting and banking
records.

The debtor can be reached at:

      Microcomp SA
      Donado 2544
      Buenos Aires, Argentina

The trustee can be reached at:

      Norma Fistzen
      Viamonte 1496
      Buenos Aires, Argentina


PLANETOUT INC: Reverse One-for-Ten Stock Split Takes Effect
-----------------------------------------------------------
PlanetOut Inc. has announced that its one-for-ten reverse stock
split previously authorized by the board of directors and the
stockholders of PlanetOut, became effective on Oct. 1 upon the
filing of an amendment to its certificate of incorporation with
the State of Delaware.

As a result of the reverse stock split, every ten shares of
common stock of PlanetOut will be combined into one share of
common stock.  The number of shares subject to PlanetOut's
outstanding options and warrants will be reduced in the same
ratio as the reduction in the outstanding shares, and the per
share exercise price of those options and warrants will be
increased in direct proportion to the reverse stock split ratio.

PlanetOut's common stock will trade on the Nasdaq Global Market
on a post-split basis beginning on Oct. 2, 2007, under the
symbol "LGBTD" until Oct. 29, 2007, and subsequently will resume
trading under the symbol "LGBT." PlanetOut's new CUSIP number is
727058 208.  No scrip or fractional certificates will be issued
in connection with the reverse stock split.  Stockholders who
would be entitled to fractional shares will receive cash in lieu
of receiving fractional shares.

Stockholders of record at end of business on Oct. 1, 2007, will
be sent a letter of transmittal from PlanetOut's transfer and
exchange agent, Wells Fargo Bank, N.A., containing instructions
for exchanging their existing stock certificates for new stock
certificates and for receiving cash in lieu of any fractional
shares resulting from the split.  Stockholders with shares held
in "street" name with a brokerage firm will have their accounts
adjusted by their respective brokers. Stockholders should not
destroy any stock certificates and should not submit any
certificates to PlanetOut or to the transfer and exchange agent
until requested to do so.

Based in San Francisco, California, PlanetOut Inc.
(Nasdaq: LGBT) -- http://www.planetoutinc.com/-- is a media and
entertainment company exclusively serving the lesbian, gay,
bisexual and transgender community.  The company provides this
audience a wide variety of products and services including
online and print media properties, a travel marketing business
and other goods and services.  PlanetOut has additional offices
in New York, Los Angeles, Minneapolis, London and Buenos Aires.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 28, 2007, the company has experienced significant net losses
and expects to continue to incur losses in the future.  As of
Mar. 31, 2007, its accumulated deficit was approximately US$45.2
million.  Although the company had positive net income in the
year ended Dec. 31, 2005, it experienced a net loss of US$3.7
million for the year ended Dec. 31, 2006 and a net loss of
US$6.9 million for the quarter ended Mar. 31, 2007, and the
company may not be able to regain or sustain profitability in
the near future, causing its financial condition to suffer and
its stock price to decline.

At March 31, 2007, the company's balance sheet showed total
assets of US$88.8 million and total liabilities of US$44.1
million, resulting in a US$44.6 million stockholders' equity.
At Dec. 31, 2006, equity was US$51.1 million.


SANATORIO EL BUEN: Proofs of Claim Verification Ends Tomorrow
--------------------------------------------------------------
Leonor Haydee Veiga, the court-appointed trustee for Sanatorio
El Buen Pastor S.A.'s bankruptcy proceeding, verifies creditors'
proofs of claim until Oct. 5, 2007.

Ms. Veiga will present the validated claims in court as
individual reports Nov. 19, 2007.  The National Commercial Court
of First Instance in Buenos Aires will determine if the verified
claims are admissible, taking into account the trustee's
opinion, and the objections and challenges that will be raised
by Sanatorio El Buen and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Sanatorio El Buen's
accounting and banking records will be submitted in court on
Feb. 5, 2008.

Ms. Veiga is also in charge of administering Sanatorio El Buen's
assets under court supervision and will take part in their
disposal to the extent established by law.

The trustee can be reached at:

       Leonor Haydee Veiga
       Bartolome Mitre 1711
       Buenos Aires, Argentina


SCO GROUP: Court Approves Epiq Bankruptcy as Claims Agent
---------------------------------------------------------
The United States Bankruptcy Court for the District of Delaware
granted SCO Group Inc. and its debtor-affiliates authority to
employ Epiq Bankruptcy Solutions LLC as their noticing, claims
and balloting agent.

As the Debtors' claims agent, Epiq is expected to:

    (1) prepare and serve required notices in these chapter 11
        cases, including:

        a) notice of the commencement of these chapter 11 cases
           and the initial meeting of creditors under section
           341(a) of the Bankruptcy Code;

        b) notice of any auction sale hearing;

        c) notice of the claims claims bar date;

        d) notice of objection to claims;

        e) notice of any hearings on a disclosure statement and
           confirmation of a plan of reorganization; and

        f) other miscellaneous notices to any entities, as the
           Debtors or the Court may deem necessary or
           appropriate for an orderly administration of these
           chapter 11 cases;

    (2) file with the clerk's office a certificate or affidavit
        of service that includes a copy of the notice involved,
        a list of persons to whom the notice was mailed and the
        date and manner of mailing, after the mailing of a
        particular notice;

    (3) maintain copies of all proofs of claim and proofs of
        interest filed;

    (4) maintain official claims registers, including, among
        other things, the following information for each proof
        of claim or proof of interest:

        a) the name and address of the claimant and any agent
           thereof, if the proof of claim or proof of interest
           was filed by an agent;

        b) the date received;

        c) the claim number assigned; and

        d) the asserted amount and classification of the claim;

    (5) assist the Debtors with administrative tasks in the
        preparation of their bankruptcy schedules and
        statements, including the creation and administration of
        a claims database based upon a review of the claims
        against the Debtors' schedules;

    (6) implement necessary security measures to ensure the
        completeness and integrty of the claims registers;

    (7) transmit to the Clerk's office a copy of the claims
        registers on a monthly basis, unless requested by the
        Clerk's office on a more or less frequent basis; or, in
        the alternative, make available the claims register
        on-line;

    (8) maintain an up-to-date mailing list for all entities
        that have filed a proof of claim, or proof of interest,
        or notice of appearance, which list shall be available
        upon request of a party in interest or the Clerk's
        office;

    (9) provide access to the public for examination of copies
        of the proofs of claim or interest without charge during
        regular business hours;

   (10) record all transfers of claims pursuant to Bankruptcy
        Rule 3001(e) and provide notice of such transfers as
        required by Bankruptcy Rule 3001(e);

   (11) comply with applicable federal, state, municipal, and
        local statutes, ordinances, rules, regulations, orders
        and other requirements;

   (12) provide temporary employees to process claims, as
        necessary;

   (13) provide balloting services in connection with the
        solicitation process for any chapter 11 plan for which a
        disclosure statement has been approved by the Court;

   (14) provide other claims processing, noticing and related
        administrative services as may be requested from time to
        time by the Debtors; and

   (15) promptly comply with further conditions and requirements
        as the Court may at any time prescribe.

Under the terms set forth in the standard bankruptcy agreement
between the Debtors and Epiq, the Debtor will pay US$25,000
retainer fee to Epiq.

Daniel C. McElhinney, the senior vice president and director of
Epiq, assures the Court that the firm does not hold any interest
adverse to the Debtors' estate and is a "disinterested person"
as defined in Section 101(14) of the Bankruptcy Code.

Headquartered in Lindon, Utah, The SCO Group Inc. (Nasdaq: SCOX)
fka Caldera International Inc. -- http://www.sco.com/--
provides software technology for distributed, embedded and
network-based systems, offering SCO OpenServer for small to
medium business and UnixWare for enterprise applications and
digital network services.  The company has office locations in
Australia, Austria, Argentina, Brazil, China, Japan, Poland,
Russia, among others.

The company and its affiliate filed for separate Chapter 11
protection on Sept. 14, 2007, (Bankr. D. Del. Case No. 07-11337
thru 07-11338).  James E. O'Neill, Esq., Laura Davis Jones,
Esq., and Rachel Lowy Werkheiser, Esq. of Pachulski, Stang,
Ziehl & Jones LLP represent the Debtors in their restructuring
efforts.  The Debtor's total assets were US$14,800,000 and its
total debts were US$7,500,000 as of Sept. 10, 2007.


SCO GROUP: Section 341(a) Creditors Meeting Set for Oct. 18
-----------------------------------------------------------
The United States Trustee for Region 3, Kelly Beaudin Stapleton,
will convene a meeting of creditors of The SCO Group Inc. and
its debtor-affiliates on Oct. 18, 2007, at 10:00 a.m., at Room
2112, 2nd Floor, J. Caleb Boggs Federal Courthouse, in
Wilmington, Delaware.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible officer of
the Debtors under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

                    About The SCO Group

Headquartered in Lindon, Utah, The SCO Group Inc. (Nasdaq: SCOX)
fka Caldera International Inc. -- http://www.sco.com/--
provides software technology for distributed, embedded and
network-based systems, offering SCO OpenServer for small to
medium business and UnixWare for enterprise applications and
digital network services.  The company has office locations in
Australia, Austria, Argentina, Brazil, China, Japan, Poland,
Russia, among others.

The company and its affiliate filed for separate Chapter 11
protection on Sept. 14, 2007, (Bankr. D. Del. Case No. 07-11337
thru 07-11338).  James E. O'Neill, Esq., Laura Davis Jones,
Esq., and Rachel Lowy Werkheiser, Esq. of Pachulski, Stang,
Ziehl & Jones LLP represent the Debtors in their restructuring
efforts.  The Debtor's total assets were US$14,800,000 and its
total debts were US$7,500,000 as of Sept. 10, 2007.


SHUMIS SA: Trustee Verifies Proofs of Claim Until Nov. 22
---------------------------------------------------------
Daniel Guillermo Contador, the court-appointed trustee for
Shumis SA's reorganization proceeding, verifies
creditors' proofs of claim until Nov. 22, 2007.

Mr. Contador will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance in Buenos Aires will determine if the verified claims
are admissible, taking into account the trustee's opinion, and
the objections and challenges that will be raised by Shumis and
its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Shumis' accounting
and banking records will be submitted in court.

Infobae didn't state the reports submission deadlines.

The informative assembly will be held on Sept. 10, 2008.
Creditors will vote to ratify the completed settlement plan
during the assembly.

The trustee can be reached at:

         Daniel Guillermo Contador
         Tucuman 1657
         Buenos Aires, Argentina


TOP NUT: Proofs of Claim Verification Is Until Nov. 1
-----------------------------------------------------
Ines Etelvina Clos, the court-appointed trustee for Top Nut
S.A.'s bankruptcy proceeding, verifies creditors' proofs of
claim until Nov. 1, 2007.

Ms. Clos will present the validated claims in court as
individual reports on Dec. 13, 2007.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the
trustee's opinion, and the objections and challenges that will
be raised by Top Nut and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Top Nut's accounting
and banking records will be submitted in court Feb. 21, 2008.

Ms. Clos is also in charge of administering Top Nut's assets
under court supervision and will take part in their disposal to
the extent established by law.

The debtor can be reached at:

       Top Nut S.A.
       Uruguay 651
       Buenos Aires, Argentina

The trustee can be reached at:

       Ines Etelvina Clos
       Sarmiento 944
       Buenos Aires, Argentina


VERA JUAN: Proofs of Claim Verification Deadline Is Nov. 26
-----------------------------------------------------------
Ignacio Victor Kaczer, the court-appointed trustee for Vera Juan
Carlos, De Nicola Jorge S.H.'s bankruptcy proceeding, verifies
creditors' proofs of claim until Nov. 26, 2007.

Mr. Kaczer will present the validated claims in court as
individual reports on Feb. 11, 2008.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the
trustee's opinion, and the objections and challenges that will
be raised by Vera Juan and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Vera Juan's
accounting and banking records will be submitted in court
April 9, 2008.

Mr. Kaczer is also in charge of administering Vera Juan's assets
under court supervision and will take part in their disposal to
the extent established by law.

The trustee can be reached at:

       Ignacio Victor Kaczer
       Avenida Callao 441
       Buenos Aires, Argentina




=============
B E R M U D A
=============


FOSTER WHEELER: Bags EPC Pact for ExxonMobil's Chemical Project
---------------------------------------------------------------
Foster Wheeler Ltd.'s subsidiaries in its Global Engineering and
Construction Group and its joint venture partner have been
awarded contracts by ExxonMobil Asia Pacific Pte. Ltd. for
project co-ordination and services and the engineering,
procurement and construction (EPC) of a number of downstream
units and associated plant infrastructure for a second
petrochemical complex in Singapore.  As announced by ExxonMobil
on Sept. 5, 2007, this project will proceed with construction.

The Foster Wheeler contract value for this project was not
disclosed and will be included in the company's third-quarter
2007 bookings.

The Foster Wheeler-led joint venture has completed the study and
front-end engineering design for substantially the entire non-
licensed technology portion of this complex, which will produce
ethylene, propylene and their derivatives, mainly for the
regional market.

The Foster Wheeler-led joint venture will now engineer, procure
and construct the modification and expansion of ExxonMobil's
existing aromatics and oxo-alcohol production facilities, and
expansion and modification of the existing product storage and
utilities, among others.

"We are delighted that, with the award of the EPC phase of this
huge project, we have the opportunity to continue the excellent
working relationship we have built with the ExxonMobil team
during the front-end phase," said Umberto Della Sala, president
& chief operating officer of Foster Wheeler Ltd.  "We are
committed to leveraging our global strength to deliver what will
be the largest single project ever undertaken by ExxonMobil
Chemical and also the largest project ever executed by Foster
Wheeler for ExxonMobil throughout our long and successful
history with this client."

Foster Wheeler Ltd. (Nasdaq: FWLT) -- http://www.fwc.com/--
offers a broad range of engineering, procurement, construction,
manufacturing, project development and management, research and
plant operation services.  Foster Wheeler serves the refining,
upstream oil and gas, LNG and gas-to-liquids, petrochemical,
chemicals, power, pharmaceuticals, biotechnology and healthcare
industries.  The corporation is based in Hamilton, Bermuda, and
its operational headquarters are in Clinton, New Jersey.

                        *     *     *

As reported in the Troubled Company Reporter on Dec. 18, 2006,
Standard & Poor's Ratings Services revised its outlook on Foster
Wheeler Ltd. to positive from stable.

At the same time, Standard & Poor's affirmed its 'B+' corporate
credit rating and other ratings on the company.  The company had
about US$217 million of total debt at Sept. 29, 2006.


SNOWBALL MULTI: Proofs of Claim Must be Filed by Oct. 5
-------------------------------------------------------
Snowball Multi Manager Fx Fund SPC's creditors are given until
Oct. 5, 2007, to prove their claims to Messrs G. James Cleaver
and Gordon MacRae, the company's liquidators, or be excluded
from receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Snowball Multi's shareholders agreed on Aug. 14, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       Gordon I. Macrae
       Attention: Hadley Chilton
       Kroll (Cayman) Limited
       4th Floor, Bermuda House
       Dr. Roy's Drive
       Grand Cayman KY1-1102
       Cayman Islands
       Telephone +1 (345) 946-0081
       Fax +1 (345) 946-0082


STEINHARDT REALTY: Proofs of Claim Filing Is Until Tomorrow
-----------------------------------------------------------
Steinhardt Realty Fund Ltd.'s creditors are given until
Oct. 5, 2007, to prove their claims to Robin J. Mayor, the
company's liquidator, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Steinhardt Realty's shareholders agreed to place the company
into voluntary liquidation under Bermuda's Companies Act 1981.

The liquidator can be reached at:

         Robin J. Mayor
         Clarendon House
         2 Church Street
         Hamilton, HM 11
         Bermuda




=============
B O L I V I A
=============


* BOLIVIA: State Miner Seeking US$100-Mil. Loan for Corocoro
------------------------------------------------------------
A Bolivian mining ministry official told Business News Americas
that state miner Comibol is seeking a US$100-million funding for
the Corocoro copper project's second stage of development.

BNamericas relates that the second stage is for the
determination of reserves at the Umacoya and Viscachani
deposits, as well as for the development of an open-pit mine to
produce 2,000 tons per month of copper cathodes.

Comibol will launch a tender on Oct. 15, 2007, for the
construction of the mine's basic structures, BNamericas says,
citing the official.

Comibol president Hugo Mirando commented to state news agency
Agencia Boliviana de Informacion, "We are drawing up a list of
specifications for plant dimensions and installations and that
will let us know what type of installation and plant will be
needed as well as the amount to be considered for the
investment."

Comibol will undertake the actual development though several
parties are interested in the project, BNamericas notes, citing
a company spokesperson.

The project has the capital needed to conduct the first stage,
which needs a US$8-million investment and consists of processing
old tailings and stripped material, the ministry official told
BNamericas.

                        *     *     *

Fitch Ratings assigned these ratings on Bolivia:

                    Rating     Rating Date
                    ------     -----------
  Country Ceiling    B-       Jun. 17, 2004
  Long Term IDR      B-       Dec. 14, 2005
  Local Currency
  Long Term Issuer
  Default Rating     B-       Dec. 14, 2005




===========
B R A Z I L
===========


ALLIANCE ONE: Exchange Offer for 8-1/2% Senior Notes Expires
------------------------------------------------------------
Alliance One International, Inc.'s exchange offer for all of its
outstanding 8-1/2 % Senior Notes due 2012 expired at 5:00 p.m.
on Oct. 1, 2007.

On Aug. 30, 2007, Alliance One offered to exchange up to
US$150,000,000 aggregate principal amount of its 8-1/2% Senior
Notes due 2012 which have been registered under the Securities
Act of 1933, as amended, for a like principal amount of its
original unregistered 8-1/2 % Senior Notes due 2012.  The terms
of the exchange securities are identical in all material
respects to the terms of the original securities for which they
are being exchanged, except that the registration rights and the
transfer restrictions, applicable to the original securities are
not applicable to the exchange securities.

The exchange offer is made only pursuant to Alliance One's
prospectus, dated Aug. 30, 2007, which has been filed with the
Securities and Exchange Commission as part of Alliance One's
Registration Statement on Form S-4.  The U.S. Securities and
Exchange Commission declared the Registration Statement
effective on Aug. 29, 2007.

Copies of the prospectus and transmittal materials governing the
exchange offer may be obtained from the Exchange Agent, Deutsche
Bank Trust Company Americas, at:

     Deutsche Bank Trust Company Americas
     DB Services Tennessee, Inc.
     Reorganization Unit
     P.O. Box 305050
     Nashville, Tennessee  37211
     Telephone (800) 735-7777
     Fax (615) 835-3701

Based in Morrisville, North Carolina, Alliance One International
Inc. (NYSE: AOI) -- http://www.aointl.com/-- is a leaf tobacco
merchant.  The company has worldwide operations in Argentina,
Bangladesh, Brazil, Bulgaria, Canada, China, France,
Philippines, Malaysia, and Singapore.

                        *     *     *

Alliance One International Inc. continues to carry Moody's
Investors Service's B2 long-term corporate family rating,
B1 bank loan debt rating, B2 senior unsecured debt rating,
Caa1 subordinated debt rating, and B2 probability-of-default
rating.  Moody's said the ratings outlook is stable.

The company also carries Standard & Poor's B+ long-term foreign
and local issuer credit ratings.  S&P said the ratings outlook
is negative.


AMERICAN AIRLINES: Intends to Prepay US$545 Mln in Aircraft Debt
----------------------------------------------------------------
American Airlines Inc. intends to prepay US$545 million in
aircraft debt in the fourth quarter of 2007 as part of its
ongoing efforts to buttress its financial foundation and
strengthen its balance sheet.

The prepayment is expected to take place toward the end of the
fourth quarter during the first available prepayment window.
The prepayment, which would be in addition to AMR's US$1.3
billion in scheduled principal payments in 2007, is expected to
initially eliminate approximately US$25 million of annual net
interest expense and release 16 aircraft used to secure the
loan, which has been outstanding since December 2002 and is
scheduled to mature in December 2012.  The company emphasized
that any final determination to prepay this debt, and any
decisions to prepay other debt, will depend on future economic
and industry conditions, the financial condition of the company,
and other factors -- many of which are beyond the company's
control.

AMR also said that its wholly owned subsidiary, American Eagle
Airlines Inc., made a US$32 million aircraft debt prepayment in
the third quarter that brought AMR's prepayment of debt on its
Canadair regional jets to US$159 million this year -- all of the
prepayments were in addition to scheduled principal payments.
The final payment in July released 10 CRJ-700 aircraft that were
used to secure the debt and which are operated by American Eagle
Airlines.

"With our improving financial performance, we have bolstered our
liquidity position and we have opportunistically strengthened
our balance sheet by reducing debt," said Thomas W. Horton,
Executive Vice President of Finance and Planning and Chief
Financial Officer of AMR.  "While we have more work to do, our
recent decisions not only improve our balance sheet, but also
reduce our interest burden going forward and give us more
financial flexibility for the future."

The plans and actions disclosed are in addition to actions taken
by the company in the first half of 2007 including debt
prepayments, bond refinancings and the lowering of the interest
rate on a credit facility.  The actions eliminated an
incremental US$27 million of annual net interest expense, in
addition to the net interest expense savings from AMR's
scheduled debt amortization.  As a result of scheduled principal
payments as well as incremental efforts to strengthen its
balance sheet, the company estimates that its net interest
expense for the nine months ended Sept. 30, 2007, will be
approximately US$130 million lower than its net interest expense
for the same period in 2006.

Going forward, depending on market conditions, the company's
cash position, and other considerations, the company may from
time to time refinance, redeem or repurchase its debt or take
other steps to reduce its debt or lease obligations or otherwise
improve its balance sheet.

AMR expects to end the third quarter of 2007 with approximately
US$5.7 billion in cash and short-term investments, including a
restricted balance of approximately US$450 million. That
compares to a cash and short-term investment balance of US$5.5
billion, including a restricted balance of US$464 million, at
the end of the third quarter of 2006.

The company expects to end the third quarter of 2007 with Total
Debt, which the company defines as the aggregate of its long-
term debt, capital lease obligations, the principal amount of
airport facility tax-exempt bonds and the present value of
aircraft operating lease obligations, of approximately US$16.6
billion. AMR's Total Debt was approximately US$19 billion at the
end of the third quarter of 2006 and approximately US$20.1
billion at the end of 2005.

The company expects to end the third quarter of 2007 with Net
Debt, which the Company defines as Total Debt less unrestricted
cash and short-term investments, of approximately US$11.3
billion, compared to Net Debt of approximately US$14.0 billion
at the end of the third quarter of 2006 and approximately
US$16.3 billion at the end of 2005.

                   About American Airlines Inc.

Based in Fort Worth, Texas, American Airlines Inc., a wholly
owned subsidiary of AMR Corp., operates the largest scheduled
passenger airline in the world with service throughout North
America, the Caribbean, Latin America, Europe and Asia.

American Airlines flies to Belgium, Brazil, Japan, among others.

                        *     *     *

American Airlines continues to carry Standard & Poor's Ratings
Services' B rating.


BANCO NACIONAL: President Suggests BRL100-Billion Lending Goal
--------------------------------------------------------------
Brazil's President Luiz Inacio Lula da Silva has suggested that
Banco Nacional de Desenvolvimento Economico e Social should set
a BRL100-billion lending target per year by 2010, news service
Agencia Estado reports.

Business News Americas relates that Banco Nacional head Luciano
Coutinho reportedly said that the bank would be better suited to
have a lower target within reach.

Banco Nacional will grant some BRL62.5 billion new loans in
2008, BNamericas notes, citing Mr. Coutinho.

Banco Nacional de Desenvolvimento Economico e Social is Brazil's
national development bank.  It provides financing for projects
within Brazil and plays a major role in the privatization
programs undertaken by the federal government.

                        *     *     *

As reported on Nov. 27, 2006, Standard & Poor's Ratings Services
changed the ratings outlook to Positive from Stable on Banco
Nacional de Desenvolvimento Economico e Social SA's BB Foreign
currency counterparty credit rating and BB+ Local currency
counterparty credit rating.


BANCO NACIONAL: Supports Picker Cooperatives with BRL16.4MM Fund
----------------------------------------------------------------
Banco Nacional de Desenvolvimento Economico e Social contracted
on Oct. 1, the first 24 financial support operations to pickers
of recyclable materials, for BRL16.4 million, in a ceremony with
the presence of President Luiz Inacio Lula da Silva.  The funds
will be used in physical infrastructure, acquisition of machines
and equipment, technical assistance and management training for
members of the cooperatives.  These operations, with non-
refundable funds resulting from BNDES Social Fund, will benefit
around 1.5 million members of such cooperatives, with a positive
impact on the generation of employment and income for workers.

The projects contracted are part of a list of 34 operations
already approved by BNDES to support cooperatives of recyclable
material pickers.  The organizations are distributed among 34
municipalities in 9 States, besides the Federal District.  The
total amount for projects approved is BRL22.9 million, also with
non-refundable funds, which is equivalent to operations with an
average BRL 670 thousand each.

Created as a result of a joint proposal of the Labor and
Employment, Cities and Social Development and Hunger Combat
Ministries, BNDES line of support to recyclable materials
collector cooperatives was launched last year, by President
Lula.  BNDES program relied on a strong demand on the part of
cooperatives all over the country.  In view of that, the Bank
will conduct a project recall still this year, with an aim at
contemplating other undertakings.

BNDES support to projects in the segment of recyclable materials
pickers aims at contributing with the public policies of social
and economic inclusion for the segment, upon the generation of
work and income for a significant number of individuals living
below the line of poverty.  In addition, the line of support to
the sector has a positive impact on environment, mainly in large
cities.

The support offered by BNDES to cooperatives is inserted in the
scope of the Program of Solid Residues under the Federal
Government Pluriannual Program [PPA], making pickers
beneficiaries of the Brazilian State public policy.

BNDES line will finance the following items:

   * Civil works and reforms: physical infrastructure, as
     hangars, roofings for loading and unloading of bales,
     kitchen, cloakroom, restrooms, meeting, training and
     computer rooms.

   * Machines, equipment, furniture and utensils for: packing,
     individual protection, sorting and package, storage and
     stocks of goods, external transportation, kitchen,
     dressing-room, restroom and office.

   * Technical assistance and training of cooperative members.

BNDES financing line was elaborated with basis on a study by
Movimento Nacional de Catadores de Materiais Reciclaveis [MNCR]
[National Movement of Recyclable Material Pickers], under the
coordination of Faculdade de Ciencias Economicas of Universidade
Federal da Bahia (UFBA).  This study lists the cooperatives and
associations of pickers in accordance with their level of
development, and proposes basic modules of investments for each
type of entity, aiming at the generation of new jobs and
increased efficiency.

Created in 2001, MNCR is an organization that searches social
and economic emancipation of pickers in Brazil, upon direct
actions with these pickers and preparation of public policies in
partnership with governments, private enterprises and civil
society.

Statistics disagree with respect to the total number of pickers
in Brazil.  Estimates vary from 300 thousand to one million
people.  MNCR, individually, has 35 thousand pickers registered,
joined in 330 groups of cooperatives.

The pickers collect and sell different recyclable materials
(paper, cardboard, aluminum cans, iron, copper, plastics, PET).
Such product diversity allows for risk pulverization and,
consequently, stability of picker's income.

Some recycling data in Brazil:

   * Paper -- Brazil ranks among the ten leading countries with
     higher paper recycling rate in the world (45.8% /year).
     There are about 3.3 million tons of paper recovered per
     year.

   * Plastics -- With 360 thousand tons processed per year,
     Brazil records a plastic mechanical recycling rate of 16.5%
     per year, only surpassed by Germany ( 31% ) and Austria
     (19.1%).

   * Aluminum -- Brazil is the global leader on recycling of
     aluminum cans, with 120 thousand tons processed/year,
     equivalent to 9 billion cans.

                     About Banco Nacional

Banco Nacional de Desenvolvimento Economico e Social is Brazil's
national development bank.  It provides financing for projects
within Brazil and plays a major role in the privatization
programs undertaken by the federal government.

                        *     *     *

As reported on Nov. 27, 2006, Standard & Poor's Ratings Services
changed the ratings outlook to Positive from Stable on Banco
Nacional de Desenvolvimento Economico e Social SA's BB Foreign
currency counterparty credit rating and BB+ Local currency
counterparty credit rating.


GENERAL MOTORS: Lehman Bros. Maintains Equal Weight Rating
----------------------------------------------------------
Lehman Brothers analyst Brian A. Johnson has kept his "equal
weight" rating on General Motors Corp.'s shares, Newratings.com
reports.

Newratings.com relates that the target price for General Motors'
shares was increased to US$40 from US$30.

Mr. Johnson said in a research note that the revised United Auto
Workers contract shows greater-than-anticipated unwind of the
auto entitlement economy.

Mr. Johnson told Newratings.com that the increase in the target
price is based on the significant benefits for General Motors
"over the long term on account of lower medical inflation risk
and new hires on decreased wages."

The earnings per share estimate for 2008 were decreased to
US$1.65 from US$2.55, Newratings.com states.

Headquartered in Detroit, Michigan, General Motors Corp. (NYSE:
GM) -- http://www.gm.com/-- was founded in 1908.  GM employs
about 280,000 people around the world and manufactures cars and
trucks in 33 countries, including the United Kingdom, Germany,
France, Russia, Brazil and India.  In 2006, nearly 9.1 million
GM cars and trucks were sold globally under the following
brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden,
HUMMER, Opel, Pontiac, Saab, Saturn and Vauxhall.  GM's OnStar
subsidiary is the industry leader in vehicle safety, security
and information services.

                        *     *     *

As reported in the Troubled Company Reporter on Sept. 28, 2007,
Fitch Ratings has affirmed and removed the Issuer Default Rating
and debt ratings of General Motors from Rating Watch Negative
following the announcement that GM has reached an agreement on a
new contract with the United Auto Workers.   Fitch currently
rates GM as: IDR 'B'; Senior secured 'BB/RR1'; and Senior
unsecured 'B-/RR5'.  GM's Rating Outlook is Negative.

As reported in Troubled Company Reporter on Sept. 26, 2007,
Moody's Investors Service is maintaining its current ratings of
General Motors Corporation -- B3 Corporate Family, Caa1 senior
unsecured and Ba3 senior secured, and Negative Outlook following
the announcement of a strike against the company by the United
Auto Workers Union.

Following the decision of the United Auto Workers union to go
out on strike against General Motors Corp., Fitch Ratings placed
General Motors Corporation's 'B' issuer default rating, 'BB/RR1'
senior secured debt rating; and 'B-/RR5' senior unsecured debt
rating on Rating Watch Negative.


INTERNATIONAL RECTIFIER: Alex Lidow Steps Down as CEO & Director
----------------------------------------------------------------
International Rectifier Corporation announced the resignation of
Dr. Alex Lidow as chief executive officer and as a director,
effective immediately.

Don Dancer continues as International Rectifier's acting chief
executive officer.  Mr. Dancer has served in that position since
Aug. 28, 2007.

The board of directors has engaged Korn/Ferry International
(NYSE:KFY) to conduct a search for Dr. Lidow's permanent
replacement.  The search is being led by Dr. James Plummer,
Chairman of the Corporate Governance and Nominating Committee.

Don Dancer, International Rectifier's acting chief executive
officer, said, "We want to thank Alex for his contributions to
the company. During his tenure, he led the pioneering power
MOSFET technology, which drove the adoption of power management
across broader end use applications.  His focus on power
management helped to solidify International Rectifier as a
leader in the industry.  Alex has also encouraged the next
generation of technology professionals who will continue to
create and provide our customers with innovative products."

"I have appreciated the opportunity to serve International
Rectifier as a Director and CEO the last 12 years," said Dr.
Lidow.  "International Rectifier and the power management
industry have a bright future, and I believe the company will
continue to deliver enormous value to the companies it serves
and end-users by helping to reduce global energy consumption and
improving energy efficiency."

Dr. Lidow will receive accrued salary, bonus and vacation
through the date of his departure.  He will be entitled to
exercise his vested options for an additional eighteen months,
or 90 days following the date on which the company becomes
current in its SEC financial reports, whichever is later.  The
company has agreed to vest all of Dr. Lidow's options that had
not already vested.

International Rectifier Corporation -- http://www.irf.com/--
(NYSE:IRF) is a world leader in power management technology.
IR's analog, digital, and mixed signal ICs, and other advanced
power management products, enable high performance computing and
save energy in a wide variety of business and consumer
applications.   Leading manufacturers of computers, energy
efficient appliances, lighting, automobiles, satellites,
aircraft, and defense systems rely on IR's power management
solutions to power their next generation products.  The company
has manufacturing facilities in the U.S., Mexico, United
Kingdom, Germany and Italy; and has subsidiaries in Japan and
Singapore.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Sept. 14, 2007, Standard & Poor's Ratings Services said that its
'BB' corporate credit rating on International Rectifier Corp.
remains on CreditWatch with negative implications.


INTERNATIONAL RECTIFIER: Discloses Key Internal Initiatives
-----------------------------------------------------------
International Rectifier Corporation announced these initiatives:

   -- Shifted reporting of the internal audit function to the
      Audit Committee of the board of directors and the general
      counsel.

   -- Appointed a lead independent director.

   -- Appointed a Special Committee of the board to advise and
      support the acting chief executive officer.

   -- Evaluated independent third party consulting firms to
      document and assess the design effectiveness of processes
      and controls.

   -- Revamped the company's hotline process and placed it under
      the internal audit function.

   -- Changed reporting relationships at the company's Japan
      subsidiary to improve oversight of the subsidiary.

   -- Added interim processes to help assure adherence to proper
      revenue recognition policies at the Japan subsidiary.

The company expects to continue to assess and improve its
internal controls and corporate governance environment.

Jack Vance, International Rectifier's lead independent director,
said, "During this period of transition for the company, the
Audit Committee and I are working diligently to bring the
internal accounting investigation to a resolution.  We are also
taking steps to implement meaningful changes to our internal
controls and governance policies.  Going forward, we will
continue to work with Don Dancer, International Rectifier's
acting chief executive officer, as well as our executive
leadership team and our employees to help ensure that our
company continues to create the products and deliver the level
of service our customers have come to expect of International
Rectifier."

Previously, the Board of Directors designated a Special
Committee, comprised of independent directors of the company, to
advise and support the company's acting chief executive officer.
The committee is chaired by Dr. Vance, former senior partner of
McKinsey & Co.  The other members include:

   * Mr. Robert Attiyeh, former chief financial officer of AMGEN
     Inc.;

   * Dr. Philip M. Neches, former chief technology officer of
     Teradata Corporation, NCR Corporation, and the AT&T
     Multimedia Products and Systems Group;

   * Dr. James Plummer, Dean of Engineering at Stanford
     University; and

   * Dr. Rochus Vogt, retired provost of the California
     Institute of Technology.

International Rectifier Corporation -- http://www.irf.com/--
(NYSE:IRF) is a world leader in power management technology.
IR's analog, digital, and mixed signal ICs, and other advanced
power management products, enable high performance computing and
save energy in a wide variety of business and consumer
applications.   Leading manufacturers of computers, energy
efficient appliances, lighting, automobiles, satellites,
aircraft, and defense systems rely on IR's power management
solutions to power their next generation products.  The company
has manufacturing facilities in the U.S., Mexico, United
Kingdom, Germany and Italy; and has subsidiaries in Japan and
Singapore.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Sept. 14, 2007, Standard & Poor's Ratings Services said that its
'BB' corporate credit rating on International Rectifier Corp.
remains on CreditWatch with negative implications.


KENDLE INTERNATIONAL: Names Ken Hintze as Vice President
--------------------------------------------------------
Kendle International has appointed Ken Hintze, PhD, as Vice
President, Global Clinical Safety and Pharmacovigilance.  Dr.
Hintze will lead the continued growth and development of
Kendle's global clinical safety and pharmacovigilance business,
including safety services in support of Phase I-IV trials as
well as stand- alone safety projects.  Dr. Hintze most recently
was Senior Director, Global Clinical Safety and
Pharmacovigilance and has been instrumental in advancing
Kendle's safety organization to the global resource it is today.

"Patient safety remains among our highest priorities at Kendle,"
noted Melanie Bruno, PhD, Vice President, Global Regulatory
Affairs and Quality.  "With increasingly complex safety
regulations worldwide, our global network of experts ensures
both regulatory compliance as well as patient health and
welfare.  We are very pleased to have Dr. Hintze in this
important global role and look forward to his ongoing leadership
and expertise as we focus on meeting our customers' needs for
high-quality safety services."

With more than 100 safety experts based in nine locations
worldwide, Kendle offers a globally connected network of safety
experts experienced in working within the regulatory
requirements of any country.  The company's safety organization
develops risk management plans, coordinates global
regulatory reporting -- including Suspected Unexpected Serious
Adverse Reaction reports as well as periodic reports -- and
performs endpoint adjudication utilizing a new proprietary
electronic endpoint adjudication system that increases both
speed and accuracy.  The organization is proficient in the full
spectrum of safety database systems and can maintain databases
internally or within a customer's system via secure connections.
The Safety organization works closely with Kendle's Medical
Affairs group in reviewing adverse events to provide customers
with comprehensive medical monitoring and safety services.

Dr. Hintze brings nearly 30 years of safety and regulatory
experience to this position.  He joined Kendle in 2002 following
23 years at Procter & Gamble in various safety roles involving
pharmaceutical and consumer products, including Section Manager,
Information Systems and Data Management and North America
Product Safety Surveillance; and Section Manager, Global
Corporate Toxicology and Consumer Health and Safety Affairs.
Dr. Hintze earned Doctorate and Master of Science degrees in
pharmacology/toxicology from the University of Iowa and a
Bachelor of Science in chemistry from Iowa State University.  He
is a member of numerous medical and scientific societies,
including the Society of Toxicologists.  Dr. Hintze is a widely-
published author, as well as an accomplished speaker presenting
at numerous professional conferences and symposia.  He is based
in Cincinnati and reports to Dr. Bruno.

                         About Kendle

Based in Cincinnati, Kendle International Inc. (Nasdaq: KNDL) --
http://www.kendle.com/-- is a global clinical research
organization and provides Phase II-IV clinical development
services worldwide.  The company's global clinical development
business is focused on five regions - North America, Europe,
Asia/Pacific, Africa and Latin America including Brazil.

                        *     *     *

As of July 3, 2007, the company carried Moody's B1 long-term
corporate family rating, B1 bank loan debt, and B2 probability
of default rating.  Moody's said the outlook was stable.

In addition, the company also carried Standard & Poor's B+ long-
term foreign and local issuer credits.  S&P said the outlook was
stable.


NVIDIA CORP: S&P Affirms BB- Corp. Rating with Stable Outlook
-------------------------------------------------------------
Standard & Poor's Ratings Services has revised its outlook on
Nvidia Corp. to positive from stable, following several quarters
of strong operating performance despite the acquisition of a key
competitor by Advanced Micro Devices Inc.  The corporate credit
rating is affirmed at 'BB-'.

"The ratings reflect a narrow business profile, frequent product
introductions, and challenges to expand the company's graphics
technology to new applications," said S&P's credit analyst Lucy
Patricola.  "These are offset only partially by the company's
strengthening market share and strong operating performance."
Nvidia had US$127.7 million of lease-adjusted debt outstanding
as of July 29, 2007, and no funded debt.

Nvidia competes in a small subsegment of the semiconductor
industry, designing graphics processors used in desktop and
notebook computers and handheld devices.  The components are
sold to consumers, as an add-in card, to computer OEMs, or in
partnership with Intel or AMD for an integrated chipset.

Profitability is strong and improving with increased volumes.
EBITDA margin was 23% for the July quarter, up from 18%-20%.
Profitability should be sustained in the near-to-intermediate
term, based on expectations of a continued strong share in the
high performance segment.

The company's leverage is very light for the rating, with debt
to EBITDA of less than 1.

Headquartered in Santa Clara, California, NVIDIA Corp. (Nasdaq:
NVDA) -- http://www.nvidia.com/-- creates innovative, industry-
changing products for computing, consumer electronics, and
mobile devices.  The NVIDIA(R) graphics processing unit and
media and communications processor brands include NVIDIA
GeForce(R), NVIDIA GoForce(R), NVIDIA Quadro(R), and NVIDIA
nForce(R).  These product families are transforming visually-
rich applications such as video games, film production,
broadcasting, industrial design, space exploration, and medical
imaging.  The company has offices throughout Asia, Europe, and
the Americas including Brazil and Argentina.


REMY INT'L: Noteholders Support Prepackaged Reorganization Plan
---------------------------------------------------------------
Remy International Inc. has received overwhelming acceptance of
its prepackaged plan of reorganization and will proceed to
promptly commence voluntary proceedings under Chapter 11 of the
U.S. Bankruptcy Code to seek confirmation of the plan.
Specifically, in excess of 99.9% in dollar amount and 98.1% in
number of holders of 8-5/8% Senior Notes and 100% in dollar
amount and 100% in number of holders of 9-3/8% Senior
Subordinated Notes and 11% Senior Subordinated Notes that voted
on the prepackaged plan, voted to approve the plan.

As reported in the Troubled Company Reporter on Aug. 2, 2007,
the key elements of the prepackaged plan include:

   * Repayment of the Company's secured creditors in full.

   * Raise US$85 million in preferred equity through a
     backstopped rights offering to be made to holders of the
     company's Senior Notes and Senior Subordinated Notes.

   * Total debt reduction of US$360 million through:

     -- Exchange of the company's US$145 million of existing
        8-5/8% Senior Notes for US$100 million of New Third-Lien
        Notes and US$45 million in cash (plus an amount of cash
        equal to the accrued but unpaid interest through the
        filing date (estimated to be US$10 million) and up to
        US$2 million of new preferred stock in respect of post
        petition interest).  In addition, these noteholders
        will receive a US$10 million consent fee for agreeing to
        the overall restructuring.

     -- Reduction of the company's unsecured debt obligations
        by US$315 million by converting the 9-3/8% Senior
        Subordinated Notes and 11% Senior Subordinated Notes
        into 100% of the common equity of the reorganized
        company.

     -- Cancellation of all of the company's existing equity
        interests.

"We are extremely pleased with the overwhelming support we
received from our noteholders and we are working expeditiously
to initiate our prepackaged chapter 11 filing as planned," John
Weber, President and CEO, said.

                   About Remy International Inc.

Headquartered in Anderson, Indiana, Remy International Inc. --
http://www.remyinc.com/-- manufactures, remanufactures and
distributes Delco Remy brand heavy-duty systems and Remy brand
starters and alternators, locomotive products and hybrid power
technology.  The company also provides a worldwide components
core-exchange service for automobiles, light trucks, medium and
heavy-duty trucks and other heavy-duty, off-road and industrial
applications.  Remy has operations in the United Kingdom, Brazil
and Korea.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Oct. 2, 2007, Moody's Investors Service lowered the Probability
of Default Ratings of Remy International Inc. to C/LD from
Ca/LD, and confirmed the Corporate Family Rating at Ca.


SOLECTRON CORP: Fitch Upgrades & Withdraws Ratings
--------------------------------------------------
Fitch Ratings has upgraded and withdrawn the following Solectron
Corporation ratings following its acquisition by Flextronics
International Ltd.:

-- Issuer Default Rating to 'BB+' from 'BB-';
-- Senior unsecured debt to 'BB+' from 'BB-';
-- Subordinated debt to 'BB-' from 'B+'.

The rating action resolves Solectron's Rating Watch Positive
status.

Fitch has withdrawn all of the ratings for Solectron, including
its senior secured bank facility rating, which was previously
affirmed at 'BB+', based on the expectation that Flextronics
will redeem all outstanding obligations of Solectron following
the close of its acquisition which occurred on Oct. 1, 2007.
The final ratings for Solectron reflect the equivalent ratings
for Flextronics.

                       About Solectron

Headquartered in Milpitas, California, Solectron Corp. (NYSE:
SLR) -- http://www.solectron.com/-- provides a full range of
worldwide manufacturing and integrated supply chain services to
the world's premier high-tech electronics companies.
Solectron's offerings include new-product design and
introduction services, materials management, product
manufacturing, and product warranty and end-of-life support.
The company operates in more than 20 countries on five
continents including France, Malaysia, and Brazil, among others.
It had sales from continuing operations of US$10.6 billion in
fiscal 2006.


SOLECTRON CORP: Moody's Puts Ba1 Rating on US$1.75 Bln Term Loan
----------------------------------------------------------------
Moody's Investors Service has confirmed the ratings of
Flextronics International, Ltd. with a negative outlook and
assigned a Ba1 rating to the company's new US$1.75 billion
delayed draw unsecured term loan in response to the closing of
the Solectron acquisition.  The initial draw on the term loan
(US$1.1 billion) will finance the cash portion of the merger
consideration.  Ratings confirmed include the company's Ba1
corporate family rating and the Ba2 ratings on its senior
subordinated notes.  At the same time, Moody's upgraded
Solectron's convertible senior notes and senior subordinated
notes to Ba2 from B3 and withdrew Solectron's B1 corporate
family, B1 probability-of-default and SGL-1 speculative grade
liquidity ratings.  These rating actions conclude a review of
Flextronics' and Solectron's ratings initiated on June 4, 2007.

The Ba1 rating of the new unsecured term loan is consistent with
Moody's press release dated Sept. 19, 2007 in which a
provisional rating of (P)Ba1 was assigned to the proposed US$2.5
billion unsecured term loan pending closing of the Solectron
acquisition.  The total amount of the term loan has been reduced
to US$1.75 billion as the majority of Solectron shareholders
elected stock over cash.  The remaining US$650 million will be
drawn down and used to pay off Solectron debt over the next
several months.  The company has the option to redeem the US$150
million senior subordinated notes at the make-whole premium plus
accrued and unpaid interest in accordance with the indenture.
The holders of the US$450 million convertible notes have the
right to redeem the notes upon a change in control.  Moody's
expects the process for redeeming the Solectron senior
subordinated and convertible notes to be completed by the end of
2007.  Upon repayment of the notes in full, Moody's will
withdraw the note ratings.  To the extent that any stub notes
remain outstanding, they would likely be rated Ba2.

Flextronics' Ba1 corporate family rating reflects the company's
size and scale with combined revenue more than double that of
Jabil (its largest competitor in the North American market),
product and end market diversity, and reasonable credit metrics
with the expectation of improving cash flow generation and de-
leveraging.

The catalysts for EMS industry growth are largely attributable
to the overall increase in the electronics markets and the
outsourcing trends of OEMs, as well as the convergence of
similar capabilities of certain EMS companies with distributors
and ODM's.  Moody's believes that the acquisition of Solectron
will allow Flextronics to more effectively compete against the
major Asian providers on a global basis, most importantly Hon
Hai (Foxconn).  The combined company will not only be able to
generate significant production volumes at very low costs to
provide scalable economies for consumer markets, but also
manufacture highly-customized products in the networking,
communications, and computing markets.  In addition, Flextronics
will differentiate itself from its competitors through vertical
integration, breadth of service offerings, and geographic reach.

The rating also reflects risks associated with the volatility of
the EMS industry, exacerbated by client concentration and the
inherent challenges Flextronics will face in managing a global
business with revenue approximating US$30 billion.  Synergies
from the Solectron acquisition should be achievable given the
physical proximity of several key facilities to each other,
which provides an easier transition with facility closures, and
limited overlap between the various businesses and customers.
While it is expected that there will be a loss of some customer
accounts, due in part to customers' desire to find a second
source provider, there is limited overlap in the customer base.
Where there is overlap, there appear to be only a few business
lines where both Flextronics and Solectron provide the same type
of product or service.

The negative rating outlook for Flextronics reflects the near-
term integration and execution risks associated with the
Solectron acquisition as well as Moody's expectation that there
will continue to be pricing pressures from the OEM's.  The
ratings could be downgraded if there is a significant decline of
revenue or profitability or if the company is unable to generate
positive free cash flow on a sustained basis.

Flextronics' leverage is moderate on a reported basis with pro
forma total debt to CY 2008 EBITDA of 2.1.  Moody's makes
further adjustments to this indebtedness with the inclusion of
operating leases and securitized accounts receivables, bringing
this adjusted pro forma debt to approximately US$4.5 billion
with leverage of around 3.

Flextronics ratings assigned and confirmed:

-- New US$1.75 billion Unsecured Term Loan due 2014 (of which
    US$1.1 billion is drawn), Ba1;

-- Corporate Family Rating, Ba1;

-- Probability-of-Default Rating, Ba1;

-- US$400 million 6.25% Senior Subordinated Notes, due 2014,
    Ba2;

-- US$400 million 6.5% Senior Subordinated Notes, due 2013,
    Ba2;

-- US$8.2 million 9.875% Senior Subordinated Notes, due 2010,
    Ba2;

-- Speculative Grade Liquidity Rating of SGL-1.

Solectron ratings upgraded:

-- US$450 million 0.5% Convertible Senior Notes due 2034, Ba2;

-- US$150 million 8.0% Senior Subordinated Notes due 2016,
    Ba2.

Solectron ratings withdrawn:

-- Solectron Corporate Family Rating, B1;

-- Solectron Probability-of-Default Rating, B1;

-- Speculative Grade Liquidity Rating of SGL-1.

Headquartered in Milpitas, California, Solectron Corp. (NYSE:
SLR) -- http://www.solectron.com/-- provides a full range of
worldwide manufacturing and integrated supply chain services to
the world's premier high-tech electronics companies. Solectron's
offerings include new-product design and introduction services,
materials management, product manufacturing, and product
warranty and end-of-life support.  The company operates in more
than 20 countries on five continents including France, Malaysia,
and Brazil, among others.  It had sales from continuing
operations of US$10.6 billion in fiscal 2006.


* BRAZIL: Companhia Vale Bids for Railway Concession
----------------------------------------------------
Companhia Vale do Rio Doce participated in yesterday's bidding
process to operate a new stretch of Brazil's North-South
Railway, Jeb Blount at Bloomberg News reports.

The world's biggest iron-ore producer competed for the right to
operate a 720-kilometer railway for a minimum bid of BRL1.48
billion (US$811 million).  If successful, Companhia Vale would
have an avenue to ship more agricultural commodities and general
cargo, Bloomberg says.  Other bidders include ARG Ltda. and
Alvorada Servicos de Engenharia Ltda.

According to the same report, Cia. Vale needs additional
transport as rising global demands caused an increase in shipped
goods.  It currently runs a 225-km section of the North-South
railway since 1996.

Headquartered in Rio de Janeiro, Brazil, Companhia Vale do Rio
Doce -- http://www.cvrd.com.br/-- engages primarily in mining
and logistics businesses. It engages in iron ore mining, pellet
production, manganese ore mining, and ferroalloy production, as
well as in the production of nonferrous minerals, such as
kaolin, potash, copper, and gold.

                        *     *     *

As reported on Nov. 24, 2006, Standard & Poor's Ratings Services
revised its outlook on its long-term ratings on the Federative
Republic of Brazil to positive from stable.  Standard & Poor's
also affirmed these ratings on the Republic of Brazil:

-- 'BB' for long-term foreign currency credit rating,
-- 'BB+' for long-term local currency credit rating, and
-- 'B' for short-term currency sovereign credit rating.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 14, 2007, Fitch Ratings upgraded Brazil's long-term foreign
and local currency sovereign Issuer Default Ratings to 'BB+'
from 'BB' and the Country Ceiling to 'BBB-' from 'BB+'.  In
addition, Fitch affirmed Brazil's Short-term IDR at 'B'.  Fitch
said the rating outlook is stable.


* BRAZIL: State Firm Extends Partnership with Peruvian Companies
----------------------------------------------------------------
Brazilian state-owned oil firm Petroleo Brasileiro SA said in a
statement that it has extended its partnership with Peruvian
state-run oil company Petroperu and Peruvian state hydrocarbons
promotion agency Perupetro.

Business News Americas relates that the pact involves the study
of joint projects in Peru for one more year.

According to BNamericas, Petroleo Brasileiro wants to boost its
Peruvian exploration and production activities.  It produces
about 15,000 barrels of oil equivalent per day in Lote X in
Peru.

The partnership with Peru also includes downstream and
hydrocarbons distribution in the country, BNamericas states,
citing Petroleo Brasileiro.

                  About Petroleo Brasileiro

Headquartered in Rio de Janeiro, Brazil, Petroleo Brasileiro SA
aka Petrobras -- http://www2.petrobras.com.br/ingles/index.asp
-- was founded in 1953.  The company explores, produces,
refines, transports, markets, distributes oil and natural gas
and power to various wholesale customers and retail distributors
in Brazil. Petrobras has operations in China, India, Japan, and
Singapore.

                        *     *     *

As reported on Nov. 24, 2006, Standard & Poor's Ratings Services
revised its outlook on its long-term ratings on the Federative
Republic of Brazil to positive from stable.  Standard & Poor's
also affirmed these ratings on the Republic of Brazil:

-- 'BB' for long-term foreign currency credit rating,
-- 'BB+' for long-term local currency credit rating, and
-- 'B' for short-term currency sovereign credit rating.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 14, 2007, Fitch Ratings upgraded Brazil's long-term foreign
and local currency sovereign Issuer Default Ratings to 'BB+'
from 'BB' and the Country Ceiling to 'BBB-' from 'BB+'.  In
addition, Fitch affirmed Brazil's Short-term IDR at 'B'.  Fitch
said the rating outlook is stable.




===========================
C A Y M A N   I S L A N D S
===========================


ACACIA CDO: Proofs of Claim Filing Deadline Is Oct. 20
------------------------------------------------------
Acacia CDO Ltd.'s creditors are given until Oct. 20, 2007, to
prove their claims to John Cullinane and Derrie Boggess, the
company's liquidators, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Acacia CDO's shareholders agreed on Sept. 20, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

       John Cullinane
       Derrie Boggess
       c/o Walkers SPV Limited, Walker House
       87 Mary Street, George Town
       Grand Cayman KY1-9002
       Cayman Islands
       Telephone: (345) 914-6305


AL-FANAR INVESTMENT: Proofs of Claim Must be Filed by Oct. 19
-------------------------------------------------------------
Al-Fanar Investment Co. Ltd.'s creditors are given until
Oct. 19, 2007, to prove their claims to Mohamed Mahsoom M.
Ameen, the company's liquidator, or be excluded from receiving
any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Al-Fanar's shareholders agreed on Sept. 18, 2007, to place the
company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       Mohamed Mahsoom M. Ameen
       Attention: Scott Gibson
       Address for service:
       c/o Walkers, Walker House
       87 Mary Street, George Town
       Grand Cayman KY1-9002
       Cayman Islands
       Telephone: (971) 4363 7903
       Fax: (971) 4363 7033


ALEX LEASING: Proofs of Claim Filing Ends on Oct. 18
----------------------------------------------------
Alex Leasing Ltd.'s creditors are given until Oct. 18, 2007, to
prove their claims to John Cullinane and Derrie Boggess, the
company's liquidators, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Alex Leasing's shareholders agreed on Sept. 5, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

       John Cullinane
       Derrie Boggess
       c/o Walkers SPV Limited, Walker House
       87 Mary Street, George Town
       Grand Cayman KY1-9002
       Cayman Islands
       Telephone: (345) 914-6305


ASSET COLLATERALISATION: Final Shareholders Meeting Is Today
------------------------------------------------------------
Asset Collateralisation Of Repackaged Notes Funding No. 2 Ltd.
will hold its final shareholders meeting on Oct. 4, 2007, at:

          Boundary Hall, Cricket Square
          George Town, Grand Cayman
          Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,

   2) hearing any explanation that may be given by the
      liquidator.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

         Hugh Thompson
         Maples Finance Limited
         P.O. Box 1093
         George Town, Grand Cayman
         Cayman Islands


CAERUS FUND: Proofs of Claim Filing Is Until Oct. 20
----------------------------------------------------
Caerus Fund Ltd.'s creditors are given until Oct. 20, 2007, to
prove their claims to John Cullinane and Derrie Boggess, the
company's liquidators, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Caerus Fund's shareholders agreed on July 26, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

       John Cullinane
       Derrie Boggess
       c/o Walkers SPV Limited, Walker House
       87 Mary Street, George Town
       Grand Cayman KY1-9002
       Cayman Islands
       Telephone: (345) 914-6305


CAERUS OFFSHORE: Proofs of Claim Filing Ends on Oct. 20
-------------------------------------------------------
Caerus Offshore Fund Ltd.'s creditors are given until
Oct. 20, 2007, to prove their claims to John Cullinane and
Derrie Boggess, the company's liquidators, or be excluded from
receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Caerus Offshore's shareholders agreed on June 29, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

       John Cullinane
       Derrie Boggess
       c/o Walkers SPV Limited, Walker House
       87 Mary Street, George Town
       Grand Cayman KY1-9002
       Cayman Islands
       Telephone: (345) 914-6305


HARBOR 2006-2: Proofs of Claim Must be Filed Today
--------------------------------------------------
Harbor 2006-2 Ltd.'s creditors are given until Oct. 4, 2007, to
prove their claims to Martin Couch and Sarah Kennedy, the
company's liquidators, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Harbor 2006-2's shareholders agreed on Sept. 5, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

       Martin Couch
       Sarah Kennedy
       Maples Finance Limited
       P.O. Box 1093
       George Town, Grand Cayman
       Cayman Islands


HARRISON CLO: Proofs of Claim Filing Deadline Is Today
-------------------------------------------------------
Harrison CLO Ltd.'s creditors are given until Oct. 4, 2007, to
prove their claims to John Cullinane and Derrie Boggess, the
company's liquidators, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Harrison CLO's shareholders agreed on Sept. 3, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

       John Cullinane
       Derrie Boggess
       c/o Walkers SPV Limited
       Walker House, 87 Mary Street
       George Town, Grand Cayman KY1 9002
       Cayman Islands
       Telephone: (345) 914-6305


MACQUARIE FINANCIAL: Proofs of Claim Filing Is Until Today
----------------------------------------------------------
Macquarie Financial Infrastructure Alliance Ltd.'s creditors are
given until Oct. 4, 2007, to prove their claims to Maxine
Rawlins and Guy Major, the company's liquidators, or be excluded
from receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Macquarie Financial's shareholder agreed on Aug. 14, 2007, to
place the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       Guy Major
       Maples Finance Limited
       P.O. Box 1093
       George Town, Grand Cayman
       Cayman Islands


NLA II (CAYMAN): Proofs of Claim Filing Deadline Is Oct. 18
-----------------------------------------------------------
NLA II (Cayman) Ltd.'s creditors are given until Oct. 18, 2007,
to prove their claims to John Cullinane and Derrie Boggess, the
company's liquidators, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

NLA II's shareholders agreed on Aug. 23, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

       John Cullinane
       Derrie Boggess
       c/o Walkers SPV Limited, Walker House
       87 Mary Street, George Town
       Grand Cayman KY1-9002
       Cayman Islands
       Telephone: (345) 914-6305


NO LOAN: Proofs of Claim Filing Ends on Oct. 18
-----------------------------------------------
No Loan Asset Funding's creditors are given until Oct. 18, 2007,
to prove their claims to George Bashforth and Sarah Kennedy, the
company's liquidators, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

No Loan's shareholders agreed on Sept. 18, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

       George Bashforth
       Sarah Kennedy
       Maples Finance Limited
       P.O. Box 1093
       George Town, Grand Cayman
       Cayman Islands


OPPORTUNITIES JAPAN: Proofs of Claim Must be Filed by Oct. 20
-------------------------------------------------------------
Opportunities Japan Master Fund's creditors are given until
Oct. 20, 2007, to prove their claims to John Cullinane and
Derrie Boggess, the company's liquidators, or be excluded from
receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Opportunities Japan's shareholders agreed on Sept. 13, 2007, to
place the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

       John Cullinane
       Derrie Boggess
       c/o Walkers SPV Limited, Walker House
       87 Mary Street, George Town
       Grand Cayman KY1-9002
       Cayman Islands
       Telephone: (345) 914-6305


PARMALAT SPA: Sees Citigroup Trial Starting in March 2008
---------------------------------------------------------
The trial against Citigroup for its involvement in Parmalat
S.p.A.'s bankruptcy proceedings should start around March 2008,
unless the U.S. group's time extension request is granted,
Parmalat attorney Nicola Palmieri said during the presentation
of the group's litigation timetable to analysts, AFX News
reported.

The presentation also revealed that the trial against Bank of
America and Grant Thornton should commence by the second or
third quarter of 2008.

The U.S. class action procedure should currently maintain the
same schedule as the one set out in the multidistrict
litigations against BofA and Grant Thornton, Mr. Palmieri told
AFX News.

"The class must first meet a set of criteria to get certified
... and there is a good chance they may not get this
certification," Mr. Palmieri told analysts, according to AFX
News.

Mr. Palmieri said he expects a decline on the legal expenses,
which in the first half totaled EUR31,900,000, starting from
2008, AFX News reported.

"In 2009 there should be a completely different picture because
only Italian cases will be involved and that (the costs) are
nothing like they are in the U.S.," Mr. Palmieri further told
AFX News.

           Motion to Dismiss Foreign Plaintiffs' Claims

Parmalat S.p.A. asked the Hon. Lewis A. Kaplan of the United
States District for the Southern District of New York to
dismiss, with prejudice, the claims asserted by the Foreign
Plaintiffs in the Third Amended Consolidated Class Action
Complaint, pursuant to Rule 12(c) of the Federal Rules of Civil
Procedure.

Peter E. Calamari, Esq., at Quinn, Emanuel, Urquhart, Oliver &
Hedges, LLP, in New York, tells Judge Kaplan that the Foreign
Plaintiffs' claims against Reorganized Parmalat pursuant to the
Securities Exchange Act can only be maintained if they can
overcome the general presumption that federal statutes do not
apply "extra-territorially."

To overcome that presumption, Mr. Calamari asserts, the Foreign
Plaintiffs must show that the wrongful conduct either occurred
in the United States, or had a substantial effect in the United
States or upon its citizens.

Mr. Calamari notes that the District Court had already dismissed
the claims asserted by the Foreign Plaintiff purchasers against
Grant Thornton, Deloitte & Touche, Bank of America, Citigroup,
Credit Suisse, and BNL.  In doing so, the District Court ruled
that the transactions forming the basis of the Foreign
Plaintiffs' allegations were overwhelmingly foreign.

Mr. Calamari says the District Court's ruling applies to the
claims asserted by the Foreign Plaintiffs against Reorganized
Parmalat.  Unlike the U.S.-based banks and auditors, the Old
Parmalat was an Italian company, and by definition, could not
have committed acts essential to the alleged fraud against
foreign purchasers outside of Italy.

Mr. Calamari contends that the Complaint asserts no domestic
conduct of Old Parmalat that relates to foreign purchasers.  Any
alleged conduct in the Unites States was incidental, and
therefore did not directly cause the losses of the Foreign
Plaintiffs, he maintains.

       Smith and Pappas Want to File 3rd Amended Complaint

Gerald K. Smith and G. Peter Pappas had asked the District Court
to reconsider its August 8 Order dismissing their Second Amended
Complaints to allow them to amend their pleadings and correct
the deficiencies described in the Order.

Messrs. Smith and Pappas asserted that the District Court had
overlooked facts alleged in the Second Amended Complaints, as
well as controlling law relevant to issues addressed in the
Order.  The plaintiffs added that the Order was the District
Court's first ruling on the sufficiency of their allegations,
hence, they should be granted leave to add the lacking
information.

However, Judge Kaplan dismissed the Reconsideration Motion as
without merit, and denied Messrs. Smith and Pappas leave to
amend their motion, stating that they had "more than sufficient
opportunity file sufficient complaints."

Judge Kaplan pointed out that the problems resulting in the
dismissal of the Second Amended Complaints should have been
apparent to the plaintiffs before they had filed their original
complaints.  They had not even indicated how they will cure the
deficiencies, Judge Kaplan noted.

Consequently, Messrs. Smith and Pappas ask the District Court to
alter its judgment and grant them leave to file Third Amended
Complaints, for basically the same relief as sought in their
Reconsideration Motion.

On the plaintiffs' behalf, Leo R. Beus, Esq., at Beus Gilbert
PLLC in Scottsdale, Arizona, asserts that the District Court
made errors of fact and of law in its analyses of the
Plaintiffs' claims with respect to issues of loss causation and
damages, and abused its discretion by dismissing the claims
without leave to amend.

Messrs. Smith and Pappas also seek to file certain documents
under seal, pursuant to an August 2005 Stipulated Protective
Order.  The documents include:

  (a) motion to alter or amend the judgment and other relief
      pursuant to Rule 59 of the Federal Rules of Civil
      Procedure;

  (b) declaration of Robert T. Mills, consisting of products
      of discovery, occurring since the filing of the Second
      Amended Complaints;

  (c) proposed Third Amended Complaint in Smith v. Bank of
      America, et al.; and

  (d) proposed Third Amended Complaint in Pappas v. Bank of
      America, et al.

Messrs. Smith and Pappas intend to submit those exhibits,
representing substantial discovery supporting their Complaints,
for the consideration of their Motion to Alter the District
Court's judgment.

                       About Parmalat

Headquartered in Milan, Italy, Parmalat S.p.A. --
http://www.parmalat.net/-- sells nameplate milk products that
can be stored at room temperature for months.  It also has about
40 brand product lines, which include yogurt, cheese, butter,
cakes and cookies, breads, pizza, snack foods and vegetable
sauces, soups and juices.

The Company's U.S. operations filed for chapter 11 protection on
Feb. 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139).  Gary
Holtzer, Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal &
Manges LLP, represent the Debtors.  When the U.S. Debtors filed
for bankruptcy protection, they reported more than US$200
million in assets and debts.  The U.S. Debtors emerged from
bankruptcy on April 13, 2005.

Parmalat S.p.A. and its Italian affiliates filed separate
petitions for Extraordinary Administration before the Italian
Ministry of Productive Activities and the Civil and Criminal
District Court of the City of Parma, Italy on Dec. 24, 2003.
Dr. Enrico Bondi was appointed Extraordinary Commissioner in
each of the cases.  The Parma Court has declared the units
insolvent.

On June 22, 2004, Dr. Bondi filed a Sec. 304 Petition, Case No.
04-14268, in the United States Bankruptcy Court for the Southern
District of New York.

Parmalat has three financing arms: Dairy Holdings Ltd., Parmalat
Capital Finance Ltd., and Food Holdings Ltd.  Dairy Holdings and
Food Holdings are Cayman Island special-purpose vehicles
established by Parmalat S.p.A.  The Finance Companies are under
separate winding up petitions before the Grand Court of the
Cayman Islands.  Gordon I. MacRae and James Cleaver of Kroll
(Cayman) Ltd. serve as Joint Provisional Liquidators in the
cases.  On Jan. 20, 2004, the Liquidators filed Sec. 304
petition, Case No. 04-10362, in the United States Bankruptcy
Court for the Southern District of New York.  In May 2006, the
Cayman Island Court appointed Messrs. MacRae and Cleaver as
Joint Official Liquidators.  Gregory M. Petrick, Esq., at
Cadwalader, Wickersham & Taft LLP, and Richard I. Janvey, Esq.,
at Janvey, Gordon, Herlands Randolph, represent the Finance
Companies in the Sec. 304 case.

The Honorable Robert D. Drain presides over the Parmalat
Debtors' U.S. cases.  (Parmalat Lumber Bankruptcy News, Issue
No. 91; http://bankrupt.com/newsstand/or 215/945-7000)


PRINCIPAL PROTECTED: Proofs of Claim Filing Ends Today
------------------------------------------------------
Principal Protected Pretsl Ltd.'s creditors are given until
Oct. 4, 2007, to prove their claims to Carrie Bunton and Emile
Small, the company's liquidators, or be excluded from receiving
any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Principal Protected's shareholders agreed on Sept. 3, 2007, to
place the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       Emile Small
       Maples Finance Limited
       P.O. Box 1093
       George Town, Grand Cayman
       Cayman Islands


SIRIOS OVERSEAS: Proofs of Claim Filing Deadline Is Today
---------------------------------------------------------
Sirios Overseas Fund II, Ltd.'s creditors are given until
Oct. 4, 2007, to prove their claims to John Cullinane and Derrie
Boggess, the company's liquidators, or be excluded from
receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Sirious Overseas shareholders agreed on Aug. 24, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

       John Cullinane
       Derrie Boggess
       c/o Walkers SPV Limited
       Walker House, 87 Mary Street
       George Town, Grand Cayman KY1 9002
       Cayman Islands
       Telephone: (345) 914-6305


STERLING EQUITY: Proofs of Claim Filing Ends Today
--------------------------------------------------
Sterling Equity Offshore Fund Ltd.'s creditors are given until
Oct. 4, 2007, to prove their claims to Joshua Grant and Richard
Gordon, the company's liquidators, or be excluded from receiving
any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Sterling Equity's shareholder agreed on Aug. 8, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       Richard Gordon
       Maples Finance Limited
       P.O. Box 1093
       George Town, Grand Cayman
       Cayman Islands


STONE HOLDINGS: Proofs of Claim Must be Filed Today
---------------------------------------------------
Stone Holdings Inc.'s creditors are given until Oct. 4, 2007, to
prove their claims to Joshua Grant and Richard Gordon, the
company's liquidators, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Stone Holdings' shareholder agreed on Aug. 17, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       Joshua Grant
       Maples Finance Limited
       P.O. Box 1093
       George Town, Grand Cayman
       Cayman Islands


TRIAXX FUNDING: Proofs of Claim Filing Is Until Oct. 20
-------------------------------------------------------
Triaxx Funding Ltd.'s creditors are given until Oct. 20, 2007,
to prove their claims to John Cullinane and Derrie Boggess, the
company's liquidators, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Triaxx Funding's shareholders agreed on Sept. 20, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

       John Cullinane
       Derrie Boggess
       c/o Walkers SPV Limited, Walker House
       87 Mary Street, George Town
       Grand Cayman KY1-9002
       Cayman Islands
       Telephone: (345) 914-6305


VENUS INVESTMENT: Proofs of Claim Filing Ends Today
---------------------------------------------------
Venus Investment Fund Ltd.'s creditors are given until
Oct. 4, 2007, to prove their claims to Joshua Grant and Guy
Major, the company's liquidators, or be excluded from receiving
any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Venus Investment's shareholder agreed on Aug. 13, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

       Joshua Grant
       Guy Major
       Maples Finance Limited
       P.O. Box 1093
       George Town, Grand Cayman
       Cayman Islands


WAVELENGTH EQUITY: Proofs of Claim Must be Filed by Oct. 19
-----------------------------------------------------------
Wavelength Equity Ltd.'s creditors are given until
Oct. 19, 2007, to prove their claims to Westport Services Ltd,
the company's liquidator, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Wavelength Equity's shareholders agreed on Sept. 18, 2007, to
place the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       Westport Services Ltd.
       Attention: Evania Ebanks
       P.O. Box 1111
       Grand Cayman KY1-1102
       Cayman Islands
       Telephone: 345 949 5122
       Fax: 345 949 7920


ZEBRA US: Proofs of Claim Filing Deadline Is Today
--------------------------------------------------
Zebra US Equity Long/Short Fund (Cayman) Offshore Ltd.'s
creditors are given until Oct. 4, 2007, to prove their claims to
Dwight Dube and Richard Gordon, the company's liquidators, or be
excluded from receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Zebra US' sole shareholder decided on Aug. 24, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       Richard Gordon
       Maples Finance Limited
       P.O. Box 1093
       George Town, Grand Cayman
       Cayman Islands




=========
C H I L E
=========


IRON MOUNTAIN: Expands in South Africa with Channel Data
--------------------------------------------------------
Iron Mountain Incorporated has announced the availability of its
PC data protection and archiving software as a service solutions
in South Africa.  Through Iron Mountain Digital's in-country
distributor Channel Data and their network of reseller partners,
South African businesses now have access to the company's PC
data protection and archiving solutions including: Connected(R)
Backup for PC, DataDefense(TM), Active Archiving Service for
Email, and Continuity Service for Email in South Africa.

"Data and privacy protection statutes are new in South Africa,
but for U.S. companies operating here, laws such as Gramm-Leach-
Bliley Act, California's Security Breach Notification Act and
Sarbarnes-Oxley drive behavior, expectations and technology,"
said Jack Ward, Chief Executive Officer, Channel Data.  "As the
South African government institutes laws closely modeled after
these regulations, the need for good governance and electronic
data management and protection services is increasing.  Now,
through our partnership with Iron Mountain Digital, South
African businesses can securely protect their data with the
world's leading data protection solutions."

"In South Africa, bandwidth is expensive and therefore limited.
A key benefit of the Iron Mountain Digital solutions is their
ability to work over low-bandwidth connections.  This was a key
technical consideration when introducing these services to the
local market via Channel Data and its resellers," said David
Kubick, vice president of Worldwide Alliances, Iron Mountain
Digital, the technology arm of Iron Mountain.  "Through our
partnership, Channel Data provides a frontline understanding of
South African market conditions, the ability to support
customers locally, and knowledge of the international and
domestic statutes and regulations governing data and privacy
protection."

Iron Mountain Digital is the world's largest provider of data
backup/recovery and archiving software as a service.  The
company's solutions are currently sold in more than 70 countries
through channel partnerships and direct sales.  The company's
comprehensive data protection and archiving solutions help
thousands of corporations and tens of thousands of small and
mid-sized companies: mitigate risk related to electronic records
and information, automatically and reliably back up and recover
server and PC data, meet regulatory compliance requirements,
respond to litigation in real time and contain storage costs.

                      About Channel Data

Channel Data -- http://www.channeldata.co.za-- is a specialist
distributor headquartered in Johannesburg, South Africa.  The
company supplies IT infrastructure products including
networking, security, storage and power solutions.  Skilled and
knowledgeable resources ensure complete and effective solution
delivery to customers.

                  About Iron Mountain Digital

Iron Mountain Digital is the world's leading provider of data
backup/recovery and archiving software as a service (SaaS).  The
technology arm of Iron Mountain Incorporated offers a
comprehensive suite of data protection and e-records management
software and services to thousands of companies around the
world, directly and through a worldwide network of channel
partners. Iron Mountain Digital is based in Southborough,
Massachusets with European headquarters in Frankfurt, Germany.

                     About Iron Mountain

Headquartered in Boston, Massachusetts, Iron Mountain
Incorporated is an international provider of information storage
and protection related services.  The company offers
comprehensive records management and data protection solutions,
along with the expertise to address complex information
challenges such as rising storage costs, litigation, regulatory
compliance and disaster recovery.  Founded in 1951, Iron
Mountain has more than 90,000 corporate clients throughout North
America, Europe, Latin America, and Asia Pacific.  Revenue for
the twelve months ended December 31, 2006 was approximately
US$2.4 billion.  Its Latin American operations are located in
Argentina, Brazil, Chile, Mexico and Peru.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
March 19, 2007, Moody's Investors Service assigned a Ba2 rating
to the proposed US$800 million senior secured credit facilities
of Iron Mountain Inc.  Concurrently, Moody's affirmed other
ratings and changed the outlook for the ratings to positive.
The positive outlook recognizes continued strength in operating
performance, including increases in the rate of growth in
storage revenues in recent quarters, and anticipates improved
covenant cushions under the proposed credit facilities.  The
positive outlook also incorporates Moody's expectation that,
given the current market position of the company, the size of
future acquisitions is likely to be smaller on a relative basis
than was the case in prior years.  Moody's expects the company
to continue to pursue an acquisitive strategy.


TECH DATA: Expands Computing Solutions with VXL Thin Clients
------------------------------------------------------------
Tech Data Corporation has expanded its server-based computing
solutions offering by announcing a distribution agreement with
VXL Instruments, a leading manufacturer of thin client devices.
Through its Client Computing business unit, Tech Data will
support the entire portfolio of VXL desktop, notebook and
integrated display thin clients.

"Server-based computing and thin client solutions have
traditionally been thought of as tools for large call centers or
other corporate environments," said Leslie Malone, Tech Data's
director, Client Computing.  "As SMBs adopt increasingly robust
networking and data center technologies, new opportunities
emerge for resellers to introduce server-based computing
solutions to their small business customers.  Thin clients, like
those from VXL, enable resellers to leverage that existing IT
infrastructure to develop server-based computing solutions
delivering compelling cost savings, while ensuring users have
reliable, more secure access to critical business applications."

Server-based computing utilizing thin client devices enables
businesses to efficiently manage and deploy software
applications from the data center.  Users access all business
applications via a thin client device as if it were a standard
desktop or notebook PC.  However, unlike desktop and notebook
PCs, no data or software is permanently stored on a thin client
device.  Once a thin client is powered down or disconnected from
the network, no applications or sensitive information can be
accessed, remaining securely stored and managed from the data
center.

"Our relationship with Tech Data and its Client Computing team
will enable us to expand our reach in the SMB market
nationwide," said Eric Grayson, vice president, Americas, VXL
Instruments.  "Our extensive line of thin client solutions can
be deployed by businesses and organizations across key vertical
markets like government, healthcare and education.  That
versatility helps resellers develop a wide range of server-based
computing solutions."

"Our customers are always looking for IT solutions that save
them time and money and provide greater functionality and
security," said Bob Malpede, executive vice president, Entre
BTG.  "Server-based computing and thin clients enable us to
present compelling solutions that accomplish that.  Having
access to a broad array of server-based computing solutions
through Tech Data is a great advantage and helps us strengthen
the value we provide our customers."

                 Computing Solutions Support

VXL is the latest addition to Tech Data's extensive thin client
product offering, which includes solutions from ChipPC, Eizo
Nanao Technologies, HP, Neoware and Wyse Technology.  Earlier
this year, Tech Data also announced a distribution agreement
with Ericom Software, a leading provider of enterprise-wide
application access solutions for server-based computing.  The
Client Computing team draws from the distributor's broad client
device, data center, networking and software solutions
offerings, as well as its extensive technical expertise to
support resellers developing server-based computing solutions.

                  Client Computing Solutions

Tech Data's Client Computing business unit helps resellers and
business partners profitably capitalize on the demand for a
range of client computing solutions comprising desktop PCs,
workstations, notebooks, thin clients, PDAs, UMPCs and other
mobile computing devices and related accessories.  Tech Data's
client computing solutions support is focused on enabling
resellers to more efficiently and effectively deliver workforce
productivity solutions to small-to-midsize businesses
nationwide.

                       About Tech Data

Founded in 1974, Tech Data Corporation (NASDAQ GS: TECD) --
http://www.techdata.com/-- distributes IT products, with more
than 90,000 customers in over 100 countries.  The company's
business model enables technology solution providers,
manufacturers and publishers to cost-effectively sell to and
support end users ranging from small-to-midsize businesses to
large enterprises.  Tech Data is ranked 107th on the FORTUNE
500(R).  The company and its subsidiaries operate centers in
Latin America, including Brazil and Chile.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 6, 2007, Fitch Ratings has affirmed Tech Data Corp., as:

   -- Issuer Default Rating at 'BB+';
   -- Senior unsecured credit facility at 'BB+';
   -- 2.75% senior unsecured convertible debentures at 'BB+'.

Fitch said the rating outlook is stable.




===============
C O L O M B I A
===============


PARKER DRILLING: Improved Performance Spurs S&P to Lift Ratings
---------------------------------------------------------------
Standard & Poor's Ratings Services has raised its corporate
credit rating on oil and gas contract driller Parker Drilling
Co. to 'B+' from 'B'.  At the same time, S&P has raised the
issue ratings on Parker's senior and convertible notes to 'B+'
from 'B-'.  These consist of its US$125 million 2.125%
convertible notes due 2012, and US$225 million 9.625% senior
notes due 2013.

The outlook is stable.  As of June 30, 2007, Houston, Texas-
based Parker had about US$338 million in debt, adjusted for
operating leases.

"The upgrade is based on improved operating performance and
significantly improved credit protection measures," said S&P's
credit analyst Aniki Saha-Yannopoulos.

Further improvement in operating performance should result from
Parker's recent capital expenditure program and favorable
industry conditions.  Also, multiple international contracts
have increased contract visibility through 2010 in certain areas
of the company's business.

S&P has raised the ratings on the notes by one additional notch
because the amount of priority debt in the form of the company's
unrated credit facility will not exceed 15% of the book value of
the company's assets -- S&P's current guideline for lowering an
unsecured issue rating by one notch relative to the corporate
credit rating.

The ratings on Parker reflect its participation in a highly
competitive, cyclical industry; its active capital spending
program; and operations in international markets and areas that
can expose it to geopolitical risks.  Business segment and
geographic diversity partially mitigate these weaknesses.

                   About Parker Drilling

Headquartered in Houston, Texas, Parker Drilling Company --
http://www.parkerdrilling.com/-- provides contract drilling and
drilling-related services worldwide.  The company has rigs
located in Indonesia, New Zealand, Colombia and Mexico, among
others.


SUN MICROSYSTEMS: Revamping Pact with LatAm Dev't Partners
----------------------------------------------------------
Sun Microsystems' Latin American servers sales director
Alejandro Raffaele told Business News Americas that the firm
will revamp its pacts with Latin American channel development
partners to increase sales of its new line of servers based on
Intel Xeon chips.

BNamericas relates that Sun Microsystems and Intel had disclosed
a partnership last year.  Sun Microsystems then launched its
X4150 server using an Intel Xeon 5300 processor and the X4450
based on four of Intel's 7300 series Xeon chips.

According to BNamericas, Sun Microsystems signed distribution
accords with:

          -- US information technology products wholesaler
             Ingram Micro's Mexican unit,

          -- Brazil's Mude, and

          -- Argentina's Solutions Box.

Regional wholesaler ITC sells Sun Microsystem's new servers in
Bolivia, Paraguay and Uruguay.

Mr. Raffaele commented to BNamericas, "[Working with
wholesalers] will enable us to have the appropriate sales
network for these products, considering that our existing
network of value added resellers does do not focus on selling
such products."

BNamericas notes that Sun Microsystem will consolidate and
expand the network of partners as its first strategy to promote
its new servers.  By the end of the 2008 first quarter, Mr.
Raffaele expects to have signed enough alliances to let the firm
cover at least 90% of Latin American nations.

Sun Microsystems will then choose the industries it will target
first.  Then the firm will concentrate on constructing closer
relations with second tier resellers that will target those
industries, BNamericas states.

Headquartered in Santa Clara, California, Sun Microsystems Inc.
(NASDAQ: SUNW) -- http://www.sun.com/-- provides network
computing infrastructure solutions that include computer
systems, data management, support services and client solutions
and educational services.  It sells networking solutions,
including products and services, in most major markets worldwide
through a combination of direct and indirect channels.

Sun Microsystems conducts business in 100 countries around the
globe, including Chile, Colombia, Brazil, Argentina, Mexico and
Venezuela in Latin America.

                        *     *     *

Sun Microsystems Inc. carries Moody's "Ba1" probability of
default and long-term corporate family ratings with a stable
outlook.  The ratings were placed on Sept. 22, 2006, and
Sept. 22, 2005, respectively.

Sun Microsystems also carries Standard & Poor's "BB+" long-term
foreign and local issuer credit ratings, which were placed on
March 5, 2004, with a stable outlook.




===================================
D O M I N I C A N   R E P U B L I C
===================================


AES CORP: NY Attorney General Wants Greenhouse Risks Disclosed
--------------------------------------------------------------
Environment News Service reports that New York Attorney General
Andrew Cuomo has subpoenaed the AES Corporation, demanding that
the firm disclose the financial risks of its greenhouse gas
emissions to shareholders, specifically to the New York State
Common Retirement Fund.

Environment News relates that Mr. Cuomo also sent the subpoenas
to:

         -- Dominion Resources,
         -- Xcel Energy,
         -- Dynegy, and
         -- Peabody Energy.

Mr. Cuomo told Environment News that AES is among the US'
largest producers of greenhouse gas pollutants, including carbon
dioxide.

AES' 2006 Form 10-K filing with the U.S. Securities and Exchange
Commission failed to disclose projected emissions, nor evaluate
the effect of upcoming greenhouse gas regulations on the firm's
"financial picture," Environment News says, citing Mr. Cuomo.

Mr. Cuomo commented to Environment News, "Climate change is one
of the most pressing environmental challenges facing the world
today."  He reminded the executives that emissions from US power
plants "constitute 30% of total US carbon emissions."

"Regulation of greenhouse gas emissions on the state level
through the Regional Greenhouse Gas Initiative will begin,"
Environment News notes, citing Mr. Cuomo.

Mr. Cuomo told Environment News, "Any one of the several new or
likely regulatory initiatives for CO2 emissions from power
plants -- including state carbon controls, E.P.A.'s regulations
under the Clean Air Act, or the enactment of federal global
warming legislation -- would add a significant cost to carbon-
intensive coal generation.  Selective disclosure of favorable
information or omission of unfavorable information concerning
climate change is misleading."

                    About AES Corporation

Headquartered in Arlington, Virginia, AES Corporation (NYSE:
AES) -- http://www.aes.com/-- is a global power company.  The
company operates in South America, Europe, Africa, Asia and the
Caribbean countries.  Specifically, it also has operations in
India.  Generating 44,000 megawatts of electricity through 124
power facilities, the company delivers electricity through 15
distribution companies.  The company's Latin America business
group is comprised of generation plants and electric utilities
in Argentina, Brazil, Chile, Colombia, Dominican Republic, El
Salvador, Panama and Venezuela.

AES has been in Eastern Europe for over ten years, since it
acquired three power plants in Hungary in 1996.  Currently, AES
has two distribution companies in Ukraine, which serve 1.2
million customers and generation plants in the Czech Republic
and Hungary.  AES is also the leading company in biomass
conversion in Hungary, generating 37% of the nation's total
renewable generation in 2004.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 22, 2007, Fitch Ratings has affirmed AES Corporation's
Issuer Default Rating at 'B+', and assigned a short-term IDR of
'B'.


FREESTAR TECHNOLOGY: Russell Bedford Raises Going Concern Doubt
---------------------------------------------------------------
Russell Bedford Stefanou Mirchandani LLP expressed substantial
doubt about Freestar Technology Corp.'s ability to continue as a
going concern after auditing the company's financial statements
for the fiscal year ended June 30, 2007.  The auditing firm
pointed to the company's difficulty in generating sufficient
cash flow to meet its obligations and sustain its operations.

Freestar recorded a net loss of US$16,305,197 on US$3,780,335 of
revenue for the year ended June 30, 2007, compared with a net
loss of US$13,999,773 on US$2,097,749 of revenue for year ended
June 30, 2006.

At June 30, 2007, the company's balance sheet showed
US$8,617,035 in total assets, US$2,949,518 in total liabilities
and US$5,667,517 in total stockholders' equity.

The company's balance sheet at June 30, 2007 showed strained
liquidity with US$2,466,845 in total current assets available to
pay US$2,765,510 in total liabilities coming due within the next
12 months.

                   About FreeStar Technology

FreeStar Technology Corporation -- http://www.freestartech.com/
-- is a payment processing company.  Its wholly owned subsidiary
Rahaxi Processing Oy., based in Helsinki, is a robust Northern
European BASE24 credit card processing platform.  Rahaxi
currently processes in excess of 1 million card payments per
month for such companies as Finnair, Ikea, and Stockman.
FreeStar is focused on exploiting a first-to-market advantage
for its Enhanced Transactional Secure Software, which is a
software package that empowers consumers to consummate e-
commerce transactions with a high level of security using
credit, debit, ATM (with PIN), electronic cash or smart cards.
The company, based in Dublin, maintains satellite offices in
Helsinki, Santo Domingo, Dominican Republic, and Geneva.




=====================
E L   S A L V A D O R
=====================


EXIDE TECH: US$91.7 Million Rights Offering Expires
---------------------------------------------------
Exide Technologies announced that the US$91.7 million rights
offering launched on Aug. 31, 2007 expired effective as of 5:00
p.m., New York City time, on Sept. 28, 2007.  Based on
preliminary results, subscribers in the rights offering,
including Tontine Capital Partners L.P. and Legg Mason
Investment Trust, Inc., subscribed for greater than 75% of the
14 million shares offered in the rights offering pursuant to
their basic subscription rights.  The company expects to receive
the full US$91.7 million in proceeds as a result of shares
purchased in the rights offering and the transactions
contemplated by the standby commitment of the Standby
Purchasers.

Headquartered in Princeton, New Jersey, Exide Technologies
(NASDAQ: XIDE) -- http://www.exide.com/-- manufactures and
distributes lead acid batteries and other related electrical
energy storage products.

The company has operations in 89 countries, including,
Argentina, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica,
Ecuador, El Salvador, Guatemala, Panama, Paraguay, Peru, Uruguay
and Venezuela.

The company filed for chapter 11 protection on Apr. 14, 2002
(Bankr. Del. Case No. 02-11125).  Matthew N. Kleiman, Esq., and
Kirk A. Kennedy, Esq., at Kirkland & Ellis, represented the
Debtors in their successful restructuring.  The Court confirmed
Exide's Amended Joint Chapter 11 Plan on April 20, 2004.  The
plan took effect on May 5, 2004.

                        *     *     *

Standard & Poor's Ratings Services, on April 2007, placed its
'CCC' corporate credit rating on Exide Technologies and all
related debt issue ratings on CreditWatch with positive
implications.  The CreditWatch listing reflects Exide's
gradually improving financial results, strengthened liquidity,
and prospects for further modest improvements in financial
metrics due in part to a better pricing environment.




===============
H O N D U R A S
===============


LEAR CORP: Names Matthew Simoncini as Chief Financial Officer
-------------------------------------------------------------
Matthew J. Simoncini has been appointed as Lear Corporation's
chief financial officer, effective immediately, reporting to
Lear Vice Chairman James H. Vandenberghe.

Daniel A. Ninivaggi, Lear Executive Vice President, General
Counsel and Chief Administrative Officer, will continue to
oversee Corporate Development and Strategic Planning activities.

Most recently, Mr. Simoncini served as senior vice president of
Global Finance and chief accounting officer where he was
responsible for Lear's worldwide operational finance and
accounting.  Prior to this position, he served as vice
president, Operational Finance since 2004, during which time he
was responsible for Lear's divisional finance organization.  He
also served as the chief financial officer of Lear's Europe,
Asia and Africa operations from 2001-2004.

"Matt has done an outstanding job in a wide variety of key
finance and accounting roles, and his promotion to chief
financial officer is well deserved," said Bob Rossiter, Lear
Chairman, CEO and President.  "His business skills, operational
knowledge and broad financial experience make him the perfect
candidate to lead the Finance function.  I look forward to
working with him to further strengthen Lear's financial position
and continue to reposition our company for future success."

In addition to his qualifications with Lear, Simoncini served in
a variety of senior finance positions for United Technologies
Automotive, which Lear acquired in 1999.  He began his career in
1985 with Deloitte & Touche after earning a bachelor's degree
from Wayne State University in Detroit.  He is a Certified
Public Accountant and a member of the Michigan Association of
Certified Public Accountants.

                       About Lear Corp.

Based in Southfield, Michigan, Lear Corporation (NYSE:LEA) --
http://www.lear.com/-- supplies automotive interior systems and
components.  Lear provides complete seat systems, electronic
products and electrical distribution systems and other interior
products.  The company has more than 90,000 employees at 236
facilities in 33 countries.

Lear also operates in Latin American countries including
Argentina, Mexico, and Venezuela.  Its European operations are
located in Czech Republic, United Kingdom, France, Germany,
Honduras, Hungary, Poland, Portugal, Romania, Russia, Slovakia,
Spain, Sweden, South Africa, Morocco, Netherlands, Tunisia and
Turkey.  Its Asian facilities are in China, India, Japan,
Philippines, Singapore, South Korea, and Thailand.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Sept. 5, 2007, Moody's Investors Service affirmed Lear
Corporation's Corporate Family Rating of B2 with a stable
outlook.  Ratings on the company's term loan of B2 and on its
unsecured notes of B3 were similarly affirmed but with slight
revisions to their respective LGD point estimates.




=============
J A M A I C A
=============


AIR JAMAICA: Will Address Lost & Delayed Luggage by Dec. 25
-----------------------------------------------------------
The Jamaica Observer reports that Air Jamaica has promised to
address lost and delayed luggage in time for Christmas.

The Observer relates that it was a common occurrence for flights
to Jamaica during summer and Christmas holidays to leave over
100 bags behind due to payload restrictions.

Air Jamaica Chief Executive Officer Mike Conway told The
Observer that the airline will be getting its first set of 757
aeroplanes that can transport more cargo.  Because of this, the
airline will be able to solve its delay baggage problem.  The
new fleet of aircraft will also be used to make Air Jamaica's
debut into South America in 2008.

Mr. Conway commented to The Observer, "With the 757 we will be
able to offer a much better service because it will be
absolutely rare that we ever leave a bag behind with that
aircraft."

The 757 has 30% more non-stop range than the A321, but over 30%
more payload capability in the amount of baggage it can take,
The Observer says, citing Mr. Conway.

Mr. Conway told The Observer, "It is not so much the space but
the power thrust that you need to lift the weight and these
airplanes have much more higher thrust engines.  We will not
have that problem on the 757 and we will have twice the number
of business class seats on that airplane."

Air Jamaica is negotiating with some cities and national
carriers in South America for the formation of partnerships, The
Observer relates, citing Mr. Conway.  Meanwhile, the other major
change coming by year-end will be an across-the-island service
to be flown using A319 aircraft.  This kind of plane will be
exclusively for the Kingston to Montego Bay routes and will make
five to six trips per day.

"These five to six small trips per day with smaller gauge jet
aircraft will eliminate the need for taking our larger aircraft
and flying them 18 minutes across the island which is not a very
efficient use of these airplanes," Mr. Conway commented to The
Observer.

Headquartered in Kingston, Jamaica, Air Jamaica --
http://www.airjamaica.com/-- was founded in 1969.  It flies
passengers and cargo to almost 30 destinations in the Caribbean,
Europe, and North America.  Air Jamaica offers vacation packages
through Air Jamaica Vacations.  The company closed its intra-
island services unit, Air Jamaica Express, in October 2005.  The
Jamaican government assumed full ownership of the airline after
an investor group turned over its 75% stake in late 2004.  The
government had owned 25% of the company after it went private
in 1994.  The Jamaican government does not plan to on Air
Jamaica permanently.

                        *     *     *

On July 21, 2006, Standard & Poor's Rating Services assigned B
long-term foreign issuer credit rating on Air Jamaica Ltd.,
which is equal to the long-term foreign currency sovereign
credit rating on Jamaica, is based on the government's
unconditional guarantee of both principal and interest
payments.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 12, 2007, Moody's Investors Service assigned a rating of B1
to Air Jamaica Limited's guaranteed senior unsecured notes.


SUGAR COMPANY: Jamaican Cabinet Approves Negotiating Team
---------------------------------------------------------
The Jamaican cabinet has authorized the creation of a
negotiating team for the study of tender proposals from the
eight firms short-listed to bid for the Sugar Company's five
sugar factories, Radio Jamaica reports, citing Agriculture
Minister Christopher Tufton.

Radio Jamaica relates that the team is composed of:

      -- Sugar Cane Enterprise Team chairperson Aubyn Hill,
      -- Jamaica Boilers Group Vice Chairperson Ian Persuad,
      -- Petro Caribe Development Fund Manager Sharon Weber,
      -- Sugar Industry Authority Chairperson Derek Heaven, and
      -- Attorney-at-law John Vassell.

The Jamaican government left open the possibility of adding
other individuals to the team as the need arises, Radio Jamaica
says, citing Minister Tufton.  The eight firms short-listed
include:

      -- Trinidad and Tobago's Angostura Limited,
      -- Brazil's Coimex,
      -- India's Dhampur Sugar Mills,
      -- Jamaica's Energen Development Limited, and
      -- Jamaica's J. Wray and Nephew Limited.

Minister Tufton told Radio Jamaica that the issues involved are:

      -- long term leases of cane lands;
      -- outright sale of the land on which factory plants;
      -- machinery; and
      -- rolling stock.

The government will absorb the cost of the redundancy payments
to all employees who qualify, Radio Jamaica states, citing
Minister Tufton.

Sugar Company of Jamaica registered a net loss of almost US$1.1
billion for the financial year ended Sept. 30, 2005, 80% higher
than the US$600 million reported in the previous financial year.
Sugar Company blamed its financial deterioration to the
reduction in sugar cane production.  According to published
reports, the Jamaican government has taken responsibility for
the payment of the firm's debts.




===========
M E X I C O
===========


ACXIOM CORP: Charles Morgan to Retire from Chairmanship
-------------------------------------------------------
Charles Morgan, Acxiom(R) Corporation's Chairman and company
leader, will retire from his post upon the selection of a
successor.

"For 35 years I have had the privilege of leading Acxiom as we
have created value for our shareholders, clients and
associates," Mr. Morgan said.  "I had been considering stepping
down as the leader of Acxiom and thought the completion of our
going-private transaction would be the natural time to begin an
orderly transition.  As Acxiom will now remain public it is the
right time for a change.  While I had been planning to retire
from Acxiom, I have agreed to stay as Company Leader during this
interim period."

The board disclosed that a search committee comprised of Halsey
Wise, Mack McLarty, Ann Die Hasselmo and Morgan has been formed
and a search will begin.  The search will include both internal
and external candidates.

"Charles Morgan is an outstanding leader," William T. Dillard,
II, Lead Director said.  "The Board is pleased that he will
continue to lead the company as we search for his successor.  We
are all very appreciative of his enormous contributions to the
success of the Acxiom.  We are working toward an ongoing role
for Charles, recognizing that much of the success of the Company
is attributable to his leadership, technological vision and his
direct relationship with many of the clients of the company.
His contributions to the entire industry over the last three
decades have been recognized by the recent announcement of his
induction to the Direct Marketing Association's Hall of Fame for
2007."

Based in Little Rock, Arkansas, Acxiom(R) Corporation (Nasdaq:
ACXM) -- http://www.acxiom.com/-- integrates data, services and
technology to create and deliver customer and information
management solutions for many of the largest, most respected
companies in the world.  The core components of Acxiom's
solutions are Customer Data Integration technology, data,
database services, IT outsourcing, consulting and analytics, and
privacy leadership.  Founded in 1969, Acxiom has locations
throughout the United States, Europe, Australia and China.

Acxiom has a team of specialists with sales and business
development associates based in the largest Latin American
markets: Brazil, Argentina and Mexico.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Oct. 3, 2007, Standard & Poor's Ratings Services' 'BB' corporate
credit rating on Little Rock, Ark.-based Acxiom Corp. remains on
CreditWatch with negative implications, where it was placed on
May 17, 2007.  At the same time, S&P has also placed the 'BB'
senior secured debt ratings on CreditWatch with negative
implications.


COTT CORP: S&P Revises CreditWatch Implications to Negative
-----------------------------------------------------------
Standard & Poor's Ratings Services has revised its CreditWatch
implications on Toronto-based beverage provider Cott Corp. to
negative from developing.

The ratings were placed on CreditWatch developing on
Apr. 16, 2007, following Cott's decision to explore its possible
participation in industry consolidation.  The change in the
CreditWatch placement results from Cott having made no
significant progress in this regard, even though management
continues to consider this option.

"The CreditWatch negative placement follows Cott's announcement
that it expects substantially lower operating income in 2007
compared with 2006," said S&P's credit analyst Lori Harris.
"The effects of volume declines in key carbonated soft drink
markets and of higher raw material costs have precipitated this
revision to operating income," Ms Harris added.  Furthermore,
the company remains stressed as reflected by the weaker-than-
expected financial performance in the second quarter ended
June 30, 2007.  Despite largely flat revenues for the quarter,
reported operating income (excluding one-time charges) dropped
35% during this time compared with second-quarter 2006.
Moreover, gross margin declined to 12.0% for the second quarter,
from 14.4% for the same period in 2006, because of higher
ingredient, packaging, and plant-related costs.

S&P is concerned about the drop in 2007 operating income and the
uncertainty related to the magnitude of the decline.  S&P will
meet with Cott's senior management to discuss the company's
expected performance for 2007 as well as its ongoing business
and financial strategies.

Headquartered in Toronto, Ontario, Cott Corporation (NYSE: COT;
TSX: BCB) -- http://www.cott.com/-- is a non-alcoholic beverage
company and a retailer brand beverage supplier.  The company
commercializes its business in over 60 countries worldwide, with
its principal markets being the United States, Canada, the
United Kingdom and Mexico.  Cott markets or supplies over 200
retailer and licensed brands, and company-owned brands including
Cott, Royal Crown, Vintage, Vess and So Clear.  Its products
include carbonated soft drinks, sparkling and flavoured mineral
waters, energy drinks, juices, juice drinks and smoothies,
ready-to-drink teas, and other non-carbonated beverages.


EL POLLO: S&P Downgrades Corporate Credit Rating to B-
------------------------------------------------------
Standard & Poor's Ratings Services has lowered its ratings on
Irvine, California-based El Pollo Loco Inc., including the
corporate credit rating, to 'B-' from 'B'.  The outlook is
negative.

The downgrade is based on the company's weakening liquidity
position that could worsen depending upon the outcome of its
current legal proceedings.  On Aug. 1, 2007, a Texas jury
rendered its verdict in a trademark lawsuit filed against El
Pollo Loco and found it liable for damages of approximately
US$22 million.  Subsequently, the company filed motions that may
alter the trial judge's final verdict and it stated that it
would appeal the court's decision if the jury's verdict is
upheld.  However, throughout the appeals process, El Pollo Loco
would likely have to post a LOC in the amount of the damages,
which S&P feels would strain the company's liquidity.

"The outlook is negative," said S&P's credit analyst Charles
Pinson-Rose, "and indicates that we would lower the rating if
liquidity weakened further from an adverse court decision, a
breach of financial covenants, or a decline in operating
performance."

El Pollo Loco -- http://www.elpolloloco.com/-- pronounced "L
Po-yo Lo-co" and Spanish for "The Crazy Chicken," is the United
States' leading quick-service restaurant chain specializing in
flame-grilled chicken and Mexican-inspired entrees.  Founded in
Guasave, Mexico, in 1975, El Pollo Loco's long-term success
stems from the unique preparation of its award-winning "pollo"
-- fresh chicken marinated in a special recipe of herbs, spices
and citrus juices passed down from the founding family.


FLEXTRONICS INT'L: Reports Final Results of Elections for Merger
----------------------------------------------------------------
Flextronics International Ltd. disclosed final results for the
elections made by Solectron stockholders regarding the form of
merger consideration they will receive in the merger.  Pursuant
to the terms of the merger agreement, Solectron stockholders
were entitled to elect to receive either 0.3450 of a Flextronics
ordinary share or US$3.89 in cash for each share of Solectron
common stock, subject to proration due to minimum and maximum
limits on the amount of stock consideration and cash
consideration.  The election deadline expired at 5:00 p.m., EDT,
on Sept. 27, 2007.

As previously reported, Flextronics has completed its
acquisition of Solectron Corporation creating the most
diversified and premier global provider of advanced design and
vertically integrated electronics manufacturing services.

The exchange agent for the transaction, Computershare
Shareholders Services, Inc., has calculated that of the
918,438,865 shares of Solectron common stock outstanding as of
the effective time of the merger:

   -- 725,108,506 of the outstanding Solectron shares, or 79.0%,
      have submitted valid elections to receive Flextronics
      ordinary shares;

   -- 81,440,695 of the outstanding Solectron shares, or 8.9%,
      have submitted valid elections to receive cash; and

   -- 111,889,664 of the outstanding Solectron shares, or 12.2%,
      did not submit valid elections.

Based on the election results and the terms of the merger
agreement:

   -- Solectron stockholders who elected to receive stock
      consideration will receive Flextronics ordinary shares
      with respect to approximately 88.66% of their Solectron
      shares and cash with respect to approximately 11.34% of
      their Solectron shares;

   -- Solectron stockholders who elected to receive cash
      consideration will receive cash with respect to all of
      their Solectron shares; and

   -- Solectron stockholders that failed to submit a valid
      election will receive cash with respect to all of their
      Solectron shares.

Flextronics will pay approximately US$1.07 billion in cash and
issue approximately 221.8 million Flextronics ordinary shares
pursuant to the merger.  No fractional Flextronics ordinary
shares will be issued.  Instead, each Solectron stockholder that
would otherwise be entitled to receive Flextronics fractional
shares will receive an amount in cash based on US$11.42 per
Flextronics ordinary share, the average of the per share closing
prices of Flextronics ordinary shares reported on the NASDAQ
Global Select Market during the five consecutive trading days
ending on the trading day immediately preceding the closing date
of the merger.  Solectron stockholders with questions regarding
individual allocation results should contact Innisfree M&A
Incorporated toll free from within the United States and Canada
at 877-825-8971.

               About Flextronics International

Headquartered in Singapore, Flextronics International Ltd.
(NasdaqGS: FLEX) -- http://www.flextronics.com/-- is an
Electronics Manufacturing Services provider focused on
delivering design, engineering and manufacturing services to
automotive, computing, consumer digital, industrial,
infrastructure, medical and mobile OEMs.  Flextronics helps
customers design, build, ship, and service electronics products
through a network of facilities in over 30 countries on four
continents.

The company has operations in Brazil and Mexico.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Sept. 24, 2007, Moody's Investors Service assigned a provisional
(P)Ba1 rating to Flextronics International Ltd.'s proposed
US$2.5 billion unsecured term loan that will be used to finance
the cash consideration portion of the pending acquisition of
Solectron Corporation.  This provisional rating assumes a
corporate family rating of Ba1.

In addition, the rating for the proposed term loan reflect both
the overall probability of default of the company, to which
Moody's assumes a PDR of Ba1, and a loss given default of LGD 4.
All of the company's ratings remain under review for possible
downgrade pending consummation of the company's merger with
Solectron, which is expected to close in October 2007.  It is
likely that if the transaction closes as contemplated, the CFR
will be affirmed at Ba1.


FLEXTRONICS INT'L: Solectron Purchase Cues Fitch to Affirm Rtgs.
----------------------------------------------------------------
Fitch Ratings has completed its review of Flextronics
International Ltd. following the company's acquisition of
Solectron Corp. and resolved Flextronics' Rating Watch Negative
status by affirming these ratings:

-- Issuer Default Rating at 'BB+';
-- Senior unsecured credit facility at 'BB+'.

Fitch also rates Flextronics' new senior unsecured Term B loan
at 'BB+'.  Additionally, Fitch has downgraded the rating on
Flextronics' senior subordinated notes from 'BB' to 'BB-'.  The
Rating Outlook is Negative.

Fitch's action affects approximately US$5.4 billion of total
debt including the revolving credit facility.

The Negative Outlook reflects:

-- Integration risks inherent in an acquisition of this size,
    with the combined company expected to generate in excess of
    US$30 billion in annual revenue, particularly in an
    industry that is  dependent on seamless day-to-day
    execution.

-- The risk of customer loss following the acquisition of
    Solectron, although Fitch expects this risk to be
    manageable.

-- Historically volatile free cash flow combined with
    relatively high leverage adds risk to the expectation that
    Flextronics will be able to reduce leverage in the near
    term in line with expectations.

The ratings reflect these expectations:

-- Flextronics has significant opportunity to decrease costs
    and improve cash flow pro forma for its acquisition of
    Solectron.

-- Flextronics will continue to outgrow its North American
    peers and gain global market share.

-- Pro forma free cash flow in excess of US$500 million which
    will be utilized to repay debt over the next several years
    in addition to making small acquisitions.

-- Pro forma leverage of approximately 2.7 times, which is
    expected to decrease to 2 or below within 2 years.

-- The global competitive environment remains challenging,
    which could negatively affect profitability and free cash
    flow expectations.

Credit strengths include:

-- Flextronics' competitive advantage in its scale and scope
    of operations;

-- Strong execution track record as evidenced by the company's
    peer leading metrics including return on invested capital
    of 10.4% and cash conversion cycle days of 13.

-- High working capital nature of the business, which
    represents an additional source of liquidity in business
    downturns.

Credit concerns include:

-- Near-term integration risks;

-- Difficult competitive environment, which has pressured
    profitability across the industry;

-- Potential for future acquisitions to have a negative impact
    on the expected repayment of debt;

-- Customer concentration risk as the top 10 customers
    represent approximately 60% of total revenue.

Flextronics acquired Solectron for US$3.6 billion in total
consideration.  Approximately US$2.5 billion of that
consideration was paid in Flextronics stock with the remaining
US$1.1 billion paid in cash.  Additionally, Flextronics will
redeem Solectron's existing debt totaling approximately US$675
million.  Flextronics is utilizing a US$1.9 billion senior
unsecured term loan, which matures in 2014 to cover the cash
expense of the acquisition and debt redemption.  The downgrade
of the subordinated notes from 'BB' to 'BB-' reflects the
issuance of senior unsecured debt where previously all of
Flextronics' outstanding debt was subordinated.

Fitch estimates pro forma leverage (total debt/operating EBITDA)
to be 2.7 and interest coverage (EBITDA/interest expense) at
approximately 4.8 including the EBITDA contribution from
Solectron for its latest 12-month period ended June 1, 2007.
After adjusting for off-balance sheet debt and operating leases,
Fitch estimates pro forma adjusted leverage (total adjusted debt
/ operating EBITDAR) to be 3.8.

Pro forma for the close of the transaction, liquidity is
expected to be solid with approximately US$1.4 billion in cash
and a fully available US$2 billion senior unsecured revolving
credit facility, which matures in 2012.  Additionally,
Flextronics utilizes a US$750 million accounts receivable
securitization program which provides additional liquidity, of
which US$538 million was outstanding on June 29, 2007, for which
the company received US$416 million of cash proceeds with the
remaining balance representing Flextronics' investment
participation in the program.

Total debt, pro forma for the close of the acquisition, is
expected to be approximately US$3.4 billion, consisting of
US$1.9 billion in a senior unsecured term loan B which matures
in 2014, US$195 million in 0% junior subordinated convertible
notes which mature in 2009, US$500 million in 1% convertible
subordinated notes, which mature in 2010, US$400 million in 6.5%
senior subordinated notes which mature in 2013, and US$400
million in 6.25% senior subordinated notes which mature in 2014.
In addition to the US$416 million in cash proceeds from
outstanding receivables under Flextronics' US$750 million
accounts receivable securitization facility, which Fitch
includes in its calculation of adjusted debt, Flextronics also
utilizes one-time sales of accounts receivable which, as of
June 29, 2007, represented an additional US$443 million in off-
balance-sheet debt.

               About Flextronics International

Headquartered in Singapore, Flextronics International Ltd.
(NasdaqGS: FLEX) -- http://www.flextronics.com/-- is an
Electronics Manufacturing Services provider focused on
delivering design, engineering and manufacturing services to
automotive, computing, consumer digital, industrial,
infrastructure, medical and mobile OEMs.  Flextronics helps
customers design, build, ship, and service electronics products
through a network of facilities in over 30 countries on four
continents.

The company has operations in Brazil and Mexico.


FLEXTRONICS INT'L: Moody's Puts Ba1 Rating on US$1.75-Bil. Loan
---------------------------------------------------------------
Moody's Investors Service has confirmed the ratings of
Flextronics International, Ltd. with a negative outlook and
assigned a Ba1 rating to the company's new US$1.75 billion
delayed draw unsecured term loan in response to the closing of
the Solectron acquisition.  The initial draw on the term loan
(US$1.1 billion) will finance the cash portion of the merger
consideration.  Ratings confirmed include the company's Ba1
corporate family rating and the Ba2 ratings on its senior
subordinated notes.  At the same time, Moody's upgraded
Solectron's convertible senior notes and senior subordinated
notes to Ba2 from B3 and withdrew Solectron's B1 corporate
family, B1 probability-of-default and SGL-1 speculative grade
liquidity ratings.  These rating actions conclude a review of
Flextronics' and Solectron's ratings initiated on June 4, 2007.

The Ba1 rating of the new unsecured term loan is consistent with
Moody's press release dated Sept. 19, 2007, in which a
provisional rating of (P)Ba1 was assigned to the proposed US$2.5
billion unsecured term loan pending closing of the Solectron
acquisition.  The total amount of the term loan has been reduced
to US$1.75 billion as the majority of Solectron shareholders
elected stock over cash.  The remaining US$650 million will be
drawn down and used to pay off Solectron debt over the next
several months.  The company has the option to redeem the US$150
million senior subordinated notes at the make-whole premium plus
accrued and unpaid interest in accordance with the indenture.
The holders of the US$450 million convertible notes have the
right to redeem the notes upon a change in control.  Moody's
expects the process for redeeming the Solectron senior
subordinated and convertible notes to be completed by the end of
2007.  Upon repayment of the notes in full, Moody's will
withdraw the note ratings.  To the extent that any stub notes
remain outstanding, they would likely be rated Ba2.

Flextronics' Ba1 corporate family rating reflects the company's
size and scale with combined revenue more than double that of
Jabil (its largest competitor in the North American market),
product and end market diversity, and reasonable credit metrics
with the expectation of improving cash flow generation and de-
leveraging.

The catalysts for EMS industry growth are largely attributable
to the overall increase in the electronics markets and the
outsourcing trends of OEMs, as well as the convergence of
similar capabilities of certain EMS companies with distributors
and ODM's.  Moody's believes that the acquisition of Solectron
will allow Flextronics to more effectively compete against the
major Asian providers on a global basis, most importantly Hon
Hai (Foxconn).  The combined company will not only be able to
generate significant production volumes at very low costs to
provide scalable economies for consumer markets, but also
manufacture highly-customized products in the networking,
communications, and computing markets.  In addition, Flextronics
will differentiate itself from its competitors through vertical
integration, breadth of service offerings, and geographic reach.

The rating also reflects risks associated with the volatility of
the EMS industry, exacerbated by client concentration and the
inherent challenges Flextronics will face in managing a global
business with revenue approximating US$30 billion.  Synergies
from the Solectron acquisition should be achievable given the
physical proximity of several key facilities to each other,
which provides an easier transition with facility closures, and
limited overlap between the various businesses and customers.
While it is expected that there will be a loss of some customer
accounts, due in part to customers' desire to find a second
source provider, there is limited overlap in the customer base.
Where there is overlap, there appear to be only a few business
lines where both Flextronics and Solectron provide the same type
of product or service.

The negative rating outlook for Flextronics reflects the near-
term integration and execution risks associated with the
Solectron acquisition as well as Moody's expectation that there
will continue to be pricing pressures from the OEM's.  The
ratings could be downgraded if there is a significant decline of
revenue or profitability or if the company is unable to generate
positive free cash flow on a sustained basis.

Flextronics' leverage is moderate on a reported basis with pro
forma total debt to CY 2008 EBITDA of 2.1.  Moody's makes
further adjustments to this indebtedness with the inclusion of
operating leases and securitized accounts receivables, bringing
this adjusted pro forma debt to approximately US$4.5 billion
with leverage of around 3.

Flextronics ratings assigned and confirmed:

-- New US$1.75 billion Unsecured Term Loan due 2014 (of which
    US$1.1 billion is drawn), Ba1;

-- Corporate Family Rating, Ba1;

-- Probability-of-Default Rating, Ba1;

-- US$400 million 6.25% Senior Subordinated Notes, due 2014,
    Ba2;

-- US$400 million 6.5% Senior Subordinated Notes, due 2013,
    Ba2;

-- US$8.2 million 9.875% Senior Subordinated Notes, due 2010,
    Ba2;

-- Speculative Grade Liquidity Rating of SGL-1.

Solectron ratings upgraded:

-- US$450 million 0.5% Convertible Senior Notes due 2034, Ba2;

-- US$150 million 8.0% Senior Subordinated Notes due 2016,
    Ba2.

Solectron ratings withdrawn:

-- Solectron Corporate Family Rating, B1;

-- Solectron Probability-of-Default Rating, B1;

-- Speculative Grade Liquidity Rating of SGL-1.

Headquartered in Singapore, Flextronics International Ltd.
(NasdaqGS: FLEX) -- http://www.flextronics.com/-- is an
Electronics Manufacturing Services provider focused on
delivering design, engineering and manufacturing services to
automotive, computing, consumer digital, industrial,
infrastructure, medical and mobile OEMs.  Flextronics helps
customers design, build, ship, and service electronics products
through a network of facilities in over 30 countries on four
continents.

The company has operations in Brazil and Mexico.


MUNICIPALITY OF COLIMA: Moody's Ups Global Issuer Rating to Ba2
---------------------------------------------------------------
Moody's has raised the issuer ratings of the Municipality of
Colima to A2.mx (Mexican National Scale) and Ba2 (Global Scale,
local currency) from A3.mx/Ba3, respectively.  The rating
outlook is stable.  The rating action was taken in recognition
of the municipality's more disciplined approach to fiscal
management in recent years, as demonstrated by its generation of
balanced financial results in 2005 and 2006 and its improving
liquidity.  In addition, the ratings take into account the
city's position as state capital, with economic stability
afforded by the important role played here by education and
government sector employment.

Colima generated balanced financial results in 2005 and 2006.
Recent years' stable financial operations stand in contrast to
the immediately preceding years when operations produced
persistent financing deficits, that is, an excess of
expenditures (before debt principal payments) over revenues.
Finances improved beginning in 2005 when municipal officials,
recognizing the need to stabilize financial operations, took
steps to improve revenue collections and exercise greater
spending control.

As a result of the better fiscal performance achieved in 2005
and 2006, the municipality's liquidity position improved from a
negative MXN3.6 million at the end of 2004 (1.4% of that year's
revenue) to a positive MXN1.9 million at the end of 2006 (2.0%
of revenue).  This improvement was achieved even as the
municipality paid off all of its direct debt (MXN13.5 million)
in 2006.

Colima is now debt-free.  Although the budget for 2007 includes
authorization for a MXN5 million borrowing, municipal officials
reported in early October that they did not expect to use this
authorization.

In recent years the municipality's borrowings have been modest
-- MXN22 million borrowed in 2004 and MXN10 million in 2005
-- but with short loan repayment periods that resulted in debt
service which absorbed a higher share of revenue than what
Moody's observes in other Mexican municipalities with similar
ratings.

Reflecting the application of Moody's Joint Default Analysis
methodology for regional and local government ratings, Colima's
ratings rely on two principal inputs:  a baseline credit
assessment of 12 on a scale of 1 to 21 (in which 1 represents
the lowest credit risk) and a low probability (in the range of
0% -30%) that the Colima state government would act to prevent
an imminent default by the municipality.  This low likelihood
reflects the absence of a clear policy stance on the part of
Mexico's state governments favoring such action and no record of
timely interventions by states for this purpose in recent
history, offset by a tendency of state governments to advance
liquidity to their municipalities in times of need.




===========
P A N A M A
===========


SOLO CUP: Hires Scott Advertising as Creative Agency
----------------------------------------------------
Solo Cup Company has appointed Scott Advertising as its creative
agency of record for its foodservice marketing and advertising
following an extensive agency review.

"Solo is stepping up its efforts to support its products and
brand with a full complement of marketing tools," said Malcolm
Simmonds, Solo's senior vice president of foodservice sales and
marketing.  "Scott Advertising has an impressive track record in
foodservice and we look forward to a successful collaboration."

As Solo's foodservice marketing agency of record, Scott will be
responsible for developing integrated marketing programs across
various media.  The agency will focus primarily on leveraging
Solo's unique value proposition and on supporting the company's
distribution and foodservice operating partners.

Founded in 1940, Milwaukee-based Scott Advertising is a full-
service advertising agency with clients ranging from foodservice
to sporting goods to business and industry.

Headquartered in Highland Park, Illinois, Solo Cup Company
-- http://www.solocup.com/-- manufactures disposable
foodservice products for the consumer and retail, foodservice,
packaging, and international markets.  Solo Cup has broad
expertise in plastic, paper, and foam disposables and creates
brand name products under the Solo, Sweetheart, Fonda, and
Hoffmaster names.  The company was established in 1936 and has a
global presence with facilities in Asia, Canada, Europe, Mexico,
Panama and the United States.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Sept. 7, 2007, Fitch Ratings has affirmed the ratings for Solo
Cup Company as:

  -- Issuer default rating (IDR) 'B-';
  -- Senior secured first lien term loan 'B+/RR2';
  -- Senior secured revolving credit facility 'B+/RR2';
  -- Senior subordinated notes 'CCC/RR6'.




=======
P E R U
=======


* PERU: State Firms Extends Partnership with Petroleo Brasileiro
----------------------------------------------------------------
Peruvian state-run oil company Petroperu, Peruvian state
hydrocarbons promotion agency Perupetro and Brazilian state-
owned oil firm Petroleo Brasileiro SA have extended their
partnership, according to a statement by Petroleo Brasileiro.

Business News Americas relates that the pact involves the study
of joint projects in Peru for one more year.

BNamericas notes that Petroleo Brasileiro wants to boost its
Peruvian exploration and production activities.  It produces
about 15,000 barrels of oil equivalent per day in Lote X in
Peru.

The partnership with Peru also includes downstream and
hydrocarbons distribution in the country, BNamericas states,
citing Petroleo Brasileiro.

                  About Petroleo Brasileiro

Headquartered in Rio de Janeiro, Brazil, Petroleo Brasileiro SA
aka Petrobras -- http://www2.petrobras.com.br/ingles/index.asp
-- was founded in 1953.  The company explores, produces,
refines, transports, markets, distributes oil and natural gas
and power to various wholesale customers and retail distributors
in Brazil. Petrobras has operations in China, India, Japan, and
Singapore.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
March 2, 2007, Standard & Poor's Ratings Services assigned its
'BB+' foreign currency credit rating to the Republic of Peru's
(BB+/Stable/B foreign, BBB-/Stable/A-3 local currency sovereign
credit ratings) US$1.24 billion global bond due in 2037 issued
as part of a new liability management operation.




=====================
P U E R T O   R I C O
=====================


CARIBBEAN RESTAURANTS: S&P Revises Rating Outlook to Negative
-------------------------------------------------------------
Standard & Poor's Ratings Services has revised its ratings
outlook on San Juan, Puerto Rico-based Caribbean Restaurants LLC
to negative from stable.

"The outlook revision reflects the continued weakness in the
Puerto Rican economy," said S&P's credit analyst Charles Pinson-
Rose, "causing lower sales and decreased operating efficiency."
He added that the negative outlook indicates that we would lower
the rating if poor economic conditions in Puerto Rico further
strain CRI's sales and operating performance.

Caribbean Restaurants LLC operates 163 BURGER KING(R)
restaurants in Puerto Rico and has continued to grow the brand
since opening its first restaurant in 1963.


MICRON TECH: Posts US$320 Million Net Loss in Year Ended Aug. 30
----------------------------------------------------------------
Micron Technology Inc. reported results of operations for its
2007 fiscal year and fourth quarter, which ended Aug. 30, 2007.

For the fourth quarter of fiscal 2007, the company incurred a
net loss of US$158 million on net sales of US$1.4 billion, which
compares to a net loss of US$225 million on net sales of US$1.3
billion for the third quarter.  For the 2007 fiscal year, the
company incurred a net loss of US$320 million on net sales of
US$5.7 billion, which compares to net income of US$408 million
on net sales of US$5.3 billion for the prior fiscal year.

The company's fourth quarter and fiscal year 2007 results were
heavily influenced by industry supply/demand dynamics that
depressed average selling prices for memory products.  The
company's net sales for the fourth quarter of fiscal 2007
increased 11 percent compared to the third quarter primarily as
a result of higher megabit sales of memory products.  Compared
to the prior quarter, fourth quarter megabit sales increased
approximately 25 percent and 60 percent for DRAM and NAND Flash
memory products, respectively, while average selling prices for
both DRAM and NAND Flash memory products decreased approximately
15 percent.  Sales of NAND Flash include sales from the
company's consolidated NAND Flash manufacturing joint venture
(IM Flash) to the company's joint venture partner at long-term
negotiated prices approximating cost.  The results for the
fourth quarter include a charge of US$20 million to write down
the carrying value of work in process and finished goods
inventories of memory products to their estimated fair market
values.

Sales of CMOS image sensors in the fourth quarter of fiscal 2007
increased approximately five percent compared to the third
quarter primarily as a result of higher average selling prices
reflecting the company's shift in mix to higher megapixel
products.

The company's manufacturing operations achieved noticeable scale
improvements in 2007, with wafer production increasing in excess
of 20 percent over fiscal 2006.  The company's cost of goods
sold per megabit decreased in the fourth quarter of fiscal 2007
compared to the third quarter by approximately 10 percent and 40
percent for DRAM and NAND Flash memory products, respectively.
These cost reductions were achieved through improved
manufacturing efficiencies and the production of significantly
more NAND Flash wafers.

During the fourth quarter of fiscal 2007, the company began
executing initiatives to drive greater cost efficiency and
revenue growth.  The company recorded a restructure charge in
the fourth quarter of US$19 million comprised primarily of
employee severance and related costs resulting from a reduction
in the company's workforce in the quarter.  The company
continues to pursue opportunities to lower its overhead costs
through the utilization of partnerships and other outside
relationships.  Selling, general and administrative expenses in
the fourth quarter include increased costs associated with the
company's outstanding legal matters.

The company had capital expenditures of approximately US$850
million and US$4 billion, including expenditures by its joint
ventures during the fourth quarter and 2007 fiscal year,
respectively, and ended the fiscal year with cash and investment
balances of US$2.6 billion.

Micron Technology Inc. -- http://www.micron.com/-- (NYSE:MU)
provides advanced semiconductor solutions.  Through its
worldwide operations, Micron manufactures and markets DRAMs,
NAND Flash memory, CMOS image sensors, other semiconductor
components and memory modules for use in leading-edge computing,
consumer, networking and mobile products.  The company is
headquartered in Boise, Idaho, and has manufacturing facilities
in Italy, Scotland, Japan, Puerto Rico and Singapore.

As reported in the Troubled Company Reporter-Latin America on
May 21, 2007, Standard & Poor's Ratings Services affirmed its
BB-/Stable/-- corporate credit rating on Boise, Idaho-based
Micron Technology Inc.  S&P also assigned its 'BB-' rating to
the company's USUS$1.1 billion convertible senior notes due
2014.


MYLAN LABS: Acquires Generics Business of Merck KGaA
----------------------------------------------------
Mylan Labs has completed its acquisition of Merck KGaA's
generics business (Merck Generics) to become one of the largest
quality generics and specialty pharmaceuticals companies in the
world.  Mylan and Merck KGaA initially announced the signing of
a definitive agreement under which Mylan would acquire Merck
Generics for EUR4.9 billion (US$6.8 billion) in an all-cash
transaction on May 12, 2007.

Robert J. Coury, Mylan's Vice Chairman and Chief Executive
Officer said, "The new Mylan now has all of the critical
attributes we need to ensure future success and deliver powerful
growth.  We have enhanced scale and stability, a truly global
reach, vertical and horizontal integration, and breadth and
depth in our management team.  Most importantly, we have a
common purpose and dedication to executing on our strategy and
delivering superior shareholder returns."

The new Mylan is the third largest generic company worldwide
that employs more than 11,000 people and has a global presence
in more than 90 countries.  Mylan's broad product offering now
includes more than 570 products and the world's second largest
portfolio of active pharmaceutical ingredients with 126 U.S.
drug master files.  Mylan has a powerful global pipeline with
more than 255 applications or dossiers pending regulatory
approval.  The new Mylan will benefit from substantial
operational efficiencies and economies of scale from increased
sales volumes and its vertically and horizontally integrated
platform.  Dey, Mylan's specialty pharmaceuticals business,
brings additional exciting and diversified opportunities through
its existing strengths in the respiratory arena.

Mr. Coury continued, "The scale of the new Mylan is evident in
every area of our business: we have scale in our geographic
reach, scale in R&D, scale in manufacturing, scale in API, scale
in our combined product portfolio, and scale in our global
commercial footprint.  We will leverage this scale to drive
operational efficiencies and extract synergies from our combined
company, while attracting exciting new opportunities.  We have
also created an extremely well balanced and diversified company,
with significantly reduced risks related to any one particular
market or product.  Importantly, we will also ensure that we
retain the qualities that customers around the world have come
to expect from both Mylan and Merck Generics.

"The Merck Generics business is even stronger than we expected
and, through the integration planning, we have confirmed that we
truly share a common culture and values centered on quality,
integrity, reliability and service.  I am thrilled to welcome
Merck Generics nearly 5,000 employees to the new and expanded
Mylan family.  After months of careful preparation, we have hit
the ground running with the integration of our businesses and I
am delighted that we will be operating as a single, integrated
company from day one."

Mylan also announced that the company will change its name from
Mylan Laboratories Inc. to Mylan Inc. to better reflect the
broader scope of its business.  The company also confirmed that
it has changed its financial year to begin reporting on a
calendar year basis.

                  About Mylan Laboratories

Mylan Laboratories Inc. (NYSE: MYL) -- http://www.mylan.com/--
is a global pharmaceutical company with market leading positions
in generic pharmaceuticals, transdermal technology and unit dose
packaged products.  Mylan operates through three principal
subsidiaries: Mylan Pharmaceuticals, a world leader in generic
pharmaceuticals; Mylan Technologies, the largest producer of
generic and branded transdermal patches for the U.S. market; and
UDL Laboratories, the top U.S.-supplier
of unit dose pharmaceuticals.

Mylan also owns a controlling interest in Matrix Laboratories,
one of the world's premier suppliers of active pharmaceutical
ingredients.  Mylan also has a European platform through
Docpharma, a Matrix subsidiary, which is a marketer of branded
generics in Europe.  The company also has a production facility
in Puerto Rico.

                        *     *     *

Moody's Investor Services placed Mylan Laboratories Inc.'s
probability of default and long-term corporate family ratings at
"Ba1" in May 2007.


MYLAN LABS: Appoints David A. Lillback Sr. VP & HR Global Head
--------------------------------------------------------------
Mylan Laboratories Inc. has appointed David A. Lillback as
Senior Vice President and Global Head of Human Resources,
effective Oct. 22, 2007.  Mr. Lillback brings to Mylan more than
25 years of HR experience.  He joins from Sanofi-Aventis where
he served as Vice President of Human Resources, U.S., with
responsibility for HR leadership for more than 16,000 employees.
Prior to joining Sanofi-Aventis, Mr. Lillback held executive HR
positions with LaRoche Industries and Kaiser Chemicals.

Mr. Lillback has extensive experience in establishing global HR
operations, processes and policies; creating and implementing
effective HR business strategies for successful and sustainable
growth; and implementing improved benefit programs aligned with
pharmaceutical industry trends.  He also has demonstrated
expertise in the recruitment and training of large
sales teams and implementing HR information systems to ensure
efficient management of talent, performance and compensation.

Mylan Vice Chairman and Chief Executive Officer Robert J. Coury
commented:  "As I've stated many times, we are clearly focused
on building the management team at Mylan with the best and the
brightest talent, and I am therefore pleased to welcome David to
the Mylan family.  With Mylan's significant global expansion, it
becomes even more critical that we have in place the tools to
identify, grow and develop talent around the world.  David will
ensure that our human resources activities are closely aligned
with the fast-evolving needs of our business and that Mylan is
the first choice for high potential candidates in the
pharmaceutical sector.  David will also ensure that we continue
to provide the highest level of HR services and support for our
existing employees around the world.  Mylan's employees have
always been our greatest asset and ensuring that they have the
resources they need remains one of our greatest priorities."

Mr. Lillback earned an MBA and a bachelor's of science degree
from Lake Erie College in Painesville, Ohio.  He also has
completed the International Executive Program at INSEAD business
school in France.

                  About Mylan Laboratories

Mylan Laboratories Inc. (NYSE: MYL) -- http://www.mylan.com/--
is a global pharmaceutical company with market leading positions
in generic pharmaceuticals, transdermal technology and unit dose
packaged products.  Mylan operates through three principal
subsidiaries: Mylan Pharmaceuticals, a world leader in generic
pharmaceuticals; Mylan Technologies, the largest producer of
generic and branded transdermal patches for the U.S. market; and
UDL Laboratories, the top U.S.-supplier of unit dose
pharmaceuticals.

Mylan also owns a controlling interest in Matrix Laboratories,
one of the world's premier suppliers of active pharmaceutical
ingredients.  Mylan also has a European platform through
Docpharma, a Matrix subsidiary, which is a marketer of branded
generics in Europe.  The company also has a production facility
in Puerto Rico.

                        *     *     *

Moody's Investor Services placed Mylan Laboratories Inc.'s
probability of default and long-term corporate family ratings at
"Ba1" in May 2007.


MYLAN LABS: Appoints Didier Barret as President of EMEA
-------------------------------------------------------
Mylan Inc. has appointed Didier Barret to the position of
President, EMEA (Europe, Middle East and Africa) following the
completion of Mylan's acquisition of Merck's Generics Group.

At Merck Generics, Mr. Barret most recently served as Region
Director, EMEA, reporting to the Chief Executive Officer.  He
was promoted to that position in 2004 following his role as Area
Director for Southern Europe, where he was responsible for
France, Belgium, Italy, Spain and Portugal.  He established
Merck Generics' first operations in France in 1995, growing the
business to exceed euro 341 million in sales by 2006.  Prior to
this, Mr. Barret held several positions within Merck's branded
division, including sales and marketing in the UK and France.

Mylan Vice Chairman and CEO Robert J. Coury commented:  "We are
very pleased to welcome Didier to the senior leadership team at
Mylan.  He is a phenomenal operator and leader, having created
Merck Generic's business in France literally from nothing to
becoming the strong and growing business it is today.  Under his
leadership of the EMEA region since 2004, growth from operations
in these territories has been extremely impressive, at around
12% annual compound growth.  As we take our place as a global
leader in the generics and specialty pharmaceutical industry,
Didier will play a key role in ensuring that we maximize our
many opportunities for growth and success moving forward in the
EMEA region."

Mr. Barret said:  "I am very excited to be part of the new
Mylan.  There is a real cultural fit between our organizations
and the new management team under Robert is very much operating
with a unified vision.  Together, our combined company is truly
a world leader in our industry, with the depth and scale in
terms of product portfolio and pipeline, as well as
manufacturing and R&D, to provide our customers, and ultimately
patients, with the best quality products and service available.
I look forward to being a part of Mylan's future success.  I
also want to take the opportunity to thank my teams in EMEA for
their hard work and the contributions each has made to the
success of our business to date and for their commitment to
making the new Mylan even more successful in the future."

                  About Mylan Laboratories

Mylan Laboratories Inc. (NYSE: MYL) -- http://www.mylan.com/--
is a global pharmaceutical company with market leading positions
in generic pharmaceuticals, transdermal technology and unit dose
packaged products.  Mylan operates through three principal
subsidiaries: Mylan Pharmaceuticals, a world leader in generic
pharmaceuticals; Mylan Technologies, the largest producer of
generic and branded transdermal patches for the U.S. market; and
UDL Laboratories, the top U.S.-supplier
of unit dose pharmaceuticals.

Mylan also owns a controlling interest in Matrix Laboratories,
one of the world's premier suppliers of active pharmaceutical
ingredients.  Mylan also has a European platform through
Docpharma, a Matrix subsidiary, which is a marketer of branded
generics in Europe.  The company also has a production facility
in Puerto Rico.

                        *     *     *

Moody's Investor Services placed Mylan Laboratories Inc.'s
probability of default and long-term corporate family ratings at
"Ba1" in May 2007.


NUTRITIONAL SOURCING: Court OKs Mesirow Financial as Consultant
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware gave
Nutritional Sourcing Corp. and its debtor-affiliates, permission
to employ Mesirow Financial Consulting LLC, as their consultant,
nunc pro tunc to Aug. 13, 2007.

As reported in the Troubled Company Reporter on Sept. 20, 2007,
the Debtors related to the Court that because their resources
and personnel are focused on consummating a sale of their
assets, they need additional assistance to compile, analyze and
prepare the financial reports and schedules required by the
Bankruptcy Code.

Mesirow will assist the Debtors in the preparation and review of
the reports and filings, including schedule of assets and
liabilities and statements of financial affairs.

The Debtors will pay Mesirow a fixed monthly fee of US$35,000
for the services of one senior vice president, plus
reimbursement of out-of-pocket expenses.

To the best of the Debtors' knowledge, Mesirow is a
"disinterested person" within the meaning of section 101(14) of
the Code, as modified by section 1107(b) of the Code.

The firm can be reached at:

       Thomas J. Allison
       Sr. Managing Director
       Mesirow Financial Consulting, LLC
       350 North Clark Street
       Chicago, IL 60610
       Tel: (800) 453-0600
       http://www.mesirowfinancial.com/

Based in Pompano, Florida, Nutritional Sourcing Corp., fdba
Pueblo Xtra International, Inc. -- http://www.puebloxtra.com/
-- owns and operates supermarkets and video rental shops in
Puerto Rico and the US Virgin Islands.  The company and two
affiliates, Pueblo International, L.L.C., and F.L.B.N., L.L.C.,
filed for chapter 11 protection on Aug. 3, 2007 (Bankr. D. Del.
Case Nos. 07-11038 through 07-11040).  Kay Scholer LLC
represents the Debtors in their restructuring efforts.  Pepper
Hamilton LLP serves as their Delaware counsel.  Skadden, Arps,
Slate, Meagher & Flom LLP represent the Official Committee of
Unsecured Creditors.  When the Debtors filed for protection from
their creditors, they listed estimated assets and debts between
US$1 million and US$100 million.


UNIVISION COMM: Promotes Cesar Conde to Executive Vice President
----------------------------------------------------------------
Univision Communications Inc. has promoted Cesar Conde to
Executive Vice President, Chief Strategy Officer, effective
immediately.  Mr. Conde will report to Joe Uva, Chief Executive
Officer of Univision.

In this position, Mr. Conde will work closely with the CEO and
the management team to identify new strategic growth
opportunities for the Company while continuing to implement
Univision's corporate priorities.  He will work to identify new
business initiatives and alternative revenue streams across the
Company's television, radio and Internet platforms and
coordinate with all units in support of these new efforts.  In
addition, he will have direct oversight of Univision's Community
Affairs, Government Relations, and Corporate Business
Development teams.

"I have worked very closely with Cesar over the last several
months and he has consistently shown that he is a creative
thinker and a motivational leader with keen strategic insights.
His significant tenure with Univision, deep experience across
several divisions of the Company and vast industry knowledge
give him a unique ability to help us further grow and define
Univision's role within the rapidly evolving U.S. media
industry," said Mr. Uva.  "Cesar is the ideal person for this
position and I look forward to continuing to work with him to
drive the Company's growth and development."

Mr. Conde commented, "I am honored to be given this opportunity
and am thrilled to have the ability to work with our management
team and the talented individuals across this organization to
take the Company to the next level.  Univision is one of the
most unique media entities in this country and has tremendous
opportunities to continue to grow, evolve and further deepen the
Company's commitment to the Hispanic community.  I look forward
to contributing to the bright future ahead for us."

Mr. Conde most recently served as the Special Assistant to Mr.
Uva, Chief Executive Officer of Univision.  Prior to this
position, Mr. Conde served as the Vice President and Operating
Manager of the Galavisión Network, where he was responsible for
all of its functions, including programming, promotions,
operations, talent relations and original productions. Mr. Conde
has also served as the Vice President of Corporate Development
for the three Univision Networks, and as Vice President of
Business Development at the Univision Network.

Aside from his tenure with Univision, Mr. Conde was one of
twelve 2002-2003 White House Fellows appointed by President
George W. Bush.  In that capacity, he served as the White House
Fellow for Secretary of State Colin L. Powell.  Before joining
Univision, Mr. Conde was Vice President of Business Development
at StarMedia Network, the first Internet company focused on
Spanish and Portuguese-speaking audiences globally.  Prior to
StarMedia, he was an investment banker in the mergers and
acquisitions group at Salomon Smith Barney.

He holds a B.A. with honors from Harvard University and an
M.B.A. from the Wharton School at the University of
Pennsylvania.  He is a Term Member at the Council on Foreign
Relations and a Henry Crown Fellow at the Aspen Institute.
Additionally, Mr. Conde is very active in the development of
educational opportunities for the Hispanic community.  He is the
Chairman and Co-Founder of the Futuro Program, a non-profit
organization that provides role models and educational workshops
to Hispanic high school students.

Headquartered in Los Angeles, Calif., Univision Communications
Inc., (NYSE: UVN) -- http://www.univision.net/-- owns and
operates more than 60 television stations in the U.S. and Puerto
Rico offering a variety of news, sports, and entertainment
programming.  The company had about US$2.6 billion in debt at
Dec. 31, 2006.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 16, 2007, Fitch Ratings downgrades these ratings:

   -- US$7.7 billion senior secured bank loans due 2014
      'B+/RR3';

   -- 3.50% senior secured notes due 2007 to 'B+/RR3' from 'BB';

   -- 3.875% senior secured notes due 2008 to 'B+/RR3' from
      'BB';
   -- 7.85% senior secured notes due 2011 to 'B+/RR3' from 'BB';

   -- US$500 million second lien term loan due 2009 'B-/RR5';

   -- US$1.5 billion 9.75%/10.50% senior unsecured notes due
      2015 'CCC+/RR6'.




==============
S T  L U C I A
==============


AIR JAMAICA: Will Launch New York-St. Lucia Daily Flights
---------------------------------------------------------
Air Jamaica's sales vice president George de Mercado told Radio
Jamaica that the airline will launch daily services into St.
Lucia from New York in December 2007, until mid-January 2008.

Air Jamaica will launch additional St. Lucia flights after a
profitable summer, Radio Jamaica notes, citing Mr. de Mercado.
Loads for the Eastern Caribbean -- Grenada and Barbados -- had
generally realized steady growth.

Air Jamaica was also profitable in its Grenadan and Barbadan
operations.  The airline will also launch additional services to
these two nations in December, Mr. de Mercado told Radio
Jamaica.

Headquartered in Kingston, Jamaica, Air Jamaica --
http://www.airjamaica.com/-- was founded in 1969.  It flies
passengers and cargo to almost 30 destinations in the Caribbean,
Europe, and North America.  Air Jamaica offers vacation packages
through Air Jamaica Vacations.  The company closed its intra-
island services unit, Air Jamaica Express, in October 2005.  The
Jamaican government assumed full ownership of the airline after
an investor group turned over its 75% stake in late 2004.  The
government had owned 25% of the company after it went private
in 1994.  The Jamaican government does not plan to on Air
Jamaica permanently.

                        *     *     *

On July 21, 2006, Standard & Poor's Rating Services assigned B
long-term foreign issuer credit rating on Air Jamaica Ltd.,
which is equal to the long-term foreign currency sovereign
credit rating on Jamaica, is based on the government's
unconditional guarantee of both principal and interest
payments.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 12, 2007, Moody's Investors Service assigned a rating of B1
to Air Jamaica Limited's guaranteed senior unsecured notes.




=================
V E N E Z U E L A
=================


LEAR CORP: Names Matthew J. Simoncini Chief Financial Officer
-------------------------------------------------------------
Lear Corporation has named Matthew J. Simoncini as chief
financial officer, effective immediately, reporting to Vice
Chairman James H. Vandenberghe.

Daniel A. Ninivaggi, Lear Executive Vice President, General
Counsel and Chief Administrative Officer, will continue to
oversee Corporate Development and Strategic Planning activities.

Most recently, Mr. Simoncini served as senior vice president of
Global Finance and chief accounting officer where he was
responsible for Lear's worldwide operational finance and
accounting.  Prior to this position, he served as vice
president, Operational Finance since 2004, during which time he
was responsible for Lear's divisional finance organization.  He
also served as the chief financial officer of Lear's Europe,
Asia and Africa operations from 2001-2004.

"Matt has done an outstanding job in a wide variety of key
finance and accounting roles, and his promotion to chief
financial officer is well deserved," said Bob Rossiter, Lear
Chairman, CEO and President.  "His business skills, operational
knowledge and broad financial experience make him the perfect
candidate to lead the Finance function.  I look forward to
working with him to further strengthen Lear's financial position
and continue to reposition our company for future success."

In addition to his qualifications with Lear, Mr. Simoncini
served in a variety of senior finance positions for United
Technologies Automotive, which Lear acquired in 1999. He began
his career in 1985 with Deloitte & Touche after earning a
bachelor's degree from Wayne State University in Detroit.  He is
a Certified Public Accountant and a member of the Michigan
Association of Certified Public Accountants.

Based in Southfield, Michigan, Lear Corporation (NYSE:LEA) --
http://www.lear.com/-- supplies automotive interior systems and
components.  Lear provides complete seat systems, electronic
products and electrical distribution systems and other interior
products.  The company has more than 90,000 employees at 236
facilities in 33 countries.

Lear also operates in Latin American countries including
Argentina, Mexico, and Venezuela.  Its European operations are
located in Czech Republic, United Kingdom, France, Germany,
Honduras, Hungary, Poland, Portugal, Romania, Russia, Slovakia,
Spain, Sweden, South Africa, Morocco, Netherlands, Tunisia and
Turkey.  Its Asian facilities are in Singapore, China, India,
Japan, Philippines, South Korea, and Thailand.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Sept. 5, 2007, Moody's Investors Service affirmed Lear
Corporation's Corporate Family Rating of B2 with a stable
outlook.  Ratings on the company's term loan of B2 and on its
unsecured notes of B3 were similarly affirmed but with slight
revisions to their respective LGD point estimates.  The
company's liquidity rating of SGL-2, designating good liquidity,
was also affirmed.

Ratings affirmed with revised LGD point estimates:

-- Corporate Family Rating, B2

-- Probability of Default, B2

-- Senior Secured Term Loan, B2 (LGD-3, 47%) from B2 (LGD-4,
    50%)

-- Senior Unsecured Notes to B3 (LGD-4, 58%) from B3 (LGD-4,
    61%)

-- Shelf ratings for senior unsecured, subordinated and
    preferred, (P)B3 (LGD-4, 58%), (P)Caa1(LGD-6, 97%), and
    (P)Caa1 (LGD-6, 97%) respectively from (P)B3 (LGD-4, 61%),
    (P)Caa1 (LGD-6, 97%), and (P)Caa1 (LGD-6, 97%)
    respectively.

-- Speculative Grade Liquidity Rating, SGL-2


PETROLEOS DE VENEZUELA: Leading NatGas Exploration Projects
-----------------------------------------------------------
Venezuelan state-run oil firm Petroleos de Venezuela SA's
executive director Orlando Chacin said during the Fourth
International Gas Conference in Puerto La Cruz that the company
will lead most of the new exploration of onshore natural gas
projects, Business News Americas reports.

Mr. Chacin commented to BNamericas, "JV [joint venture]
companies operating in Venezuela will need special approval from
the energy ministry to participate in any new onshore projects."

Petroleos de Venezuela will continue to tender offshore blocks
to mixed joint venture firms in Venezuela, BNamericas says,
citing Mr. Chacin.

BNamericas notes that Petroleos de Venezuela wants to take more
control over seismic offshore exploration.  The firm will also
boost work with nearby Trinidad & Tobago, while some blocks will
be jointly held by the two nations.  The firm is continuing
natural gas projects in Cuba, Bolivia, Argentina, Gambia and
Vietnam.

About US$8.248 billion will be invested in natural gas projects
throughout the next 15 to 20 years, Mr. Chacin told BNamericas.

Petroleos de Venezuela SA -- http://www.pdv.com/-- is
Venezuela's state oil company in charge of the development of
the petroleum, petrochemical and coal industry, as well as
planning, coordinating, supervising and controlling the
operational activities of its divisions, both in Venezuela and
abroad.  The company has a commercial office in China.

As reported on March 28, 2007, Standard & Poor's Ratings
Services assigned its 'BB-' senior unsecured long-term credit
rating to Petroleos de Venezuela S.A.'s US$2 billion notes due
2017, US$2 billion notes due 2027, and US$1 billion notes due
2037.


PETROLEOS DE VENEZUELA: Pay Package Falls Short of Union Demand
---------------------------------------------------------------
Jeremy Morgan Vheadline.com reports that Venezuelan state-owned
oil firm Petroleos de Venezuela SA's pay package fell short of
what the unions had demanded.

According to Vheadline.com, the focus of the negotiations seemed
to have been on tackling better terms on social benefits and
payments due to retired workers.

The Caracas Daily Journal relates that Petroleos de Venezuela
and labor unions "went into a bid to break the deadlock in a pay
dispute" that led to a demonstration where a worker was shot and
wounded by police.

Vheadline.com notes that Petroleos de Venezuela agreed to
backdate the accord to June 21, 2007, when the deal was supposed
to have been sealed and signed.  The firm and the unions agreed
on a VEB12,000 pay raise per day with immediate effect, followed
by a further VEB1,000 next year.  The deal is now worth an extra
VEB44,000 a day.  This will be spread over the years up to and
including 2009.  Petroleos de Venezuela initially wanted to
extend the collective bargaining agreement by an extra year.
The package boosts health benefits to VEB150,000 a month from
VEB120,000.  Other details are still to be agreed later this
week.

According to the report, Petroleos de Venezuela seemed to stick
to a final offer of just VEB9,000 per day.  It reportedly
planned to cut food vouchers.  The value of food vouchers paid
to workers as an integral part of their wages goes up to
VEB950,000 a month from VEB750,000, which will be indexed to the
inflation index at the Venezuelan Central Bank.

The food voucher concession will be extended to pensioners, and
on their death, their relatives, union spokespersons told
Vheadline.com.

Petroleos de Venezuela SA -- http://www.pdv.com/-- is
Venezuela's state oil company in charge of the development of
the petroleum, petrochemical and coal industry, as well as
planning, coordinating, supervising and controlling the
operational activities of its divisions, both in Venezuela and
abroad.  The company has a commercial office in China.

As reported on March 28, 2007, Standard & Poor's Ratings
Services assigned its 'BB-' senior unsecured long-term credit
rating to Petroleos de Venezuela S.A.'s US$2 billion notes due
2017, US$2 billion notes due 2027, and US$1 billion notes due
2037.


PETROLEOS DE VENEZUELA: To Decide on Foreign Firm Compensation
--------------------------------------------------------------
Venezuelan state-owned oil firm Petroleos de Venezuela's CP
division head Eulogio del Pino told Business News Americas that
the company will still decide on how it will compensate firms
for nationalized assets in Orinoco.

According to BNamericas, Mr. del Pino said that Petroleos de
Venezuela is open to all forms of payment.

Mr. del Pino told the press that negotiations over compensation
continue.

Petroleos de Venezuela will pay the book value of the
nationalized assets, BNamericas states, citing Mr. del Pino.

Petroleos de Venezuela SA -- http://www.pdv.com/-- is
Venezuela's state oil company in charge of the development of
the petroleum, petrochemical and coal industry, as well as
planning, coordinating, supervising and controlling the
operational activities of its divisions, both in Venezuela and
abroad.  The company has a commercial office in China.

As reported on March 28, 2007, Standard & Poor's Ratings
Services assigned its 'BB-' senior unsecured long-term credit
rating to Petroleos de Venezuela S.A.'s US$2 billion notes due
2017, US$2 billion notes due 2027, and US$1 billion notes due
2037.


* VENEZUELA: Entry into Mercosur Put on Hold
--------------------------------------------
The Brazilian congress has postponed Venezuela's Mercosur
membership, Mercopress reports.

Mercopress relates that Venezuela's membership is yet to be
approved by the legislatives of Brazil and Paraguay.  Argentine
and Uruguayan congresses already authorized Venezuela's
incorporation to Mercosur.

The Mercosur's vote on Venezuela's membership was delayed after
an exchange between the nation and Brazil in June 2007 when
Venezuelan President Hugo Chavez called Brazilian Senators
"Washington parrots and oligarchs" for asking him to renew the
license of his country's television station Radio Caracas
Television, which was closed down for allegedly siding with the
opposition, Mercopress says.  The Brazilian congress then said
it would delay consideration of the documents, while President
Chavez warned that his nation wouldn't beg to be a Mercosur
member and set a deadline for the approval of the incorporation
documents, which is in December.

According to Mercopress, the Brazilian Congress Lower House
started considering the Venezuelan Mercosur Incorporation
Protocol last week but suspended discussions for three weeks,
due to "technical flaws" in the document.

The Brazilian executive is positive that Venezuela will become a
full member of Mercosur, Mercopress notes, citing Brazilian
Foreign Affairs Minister Celso Amorim.  Venezuela's
incorporation in the Mercosur favors Brazil, South American
integration and Venezuela itself.

Minister Amorim told Mercopress that it was made clear to the
Brazilian congress that Venezuela's Mercosur incorporation is
"very important" for Brazil.

                        *     *     *

As reported in the Troubled Company Reporter on Nov. 20, 2006,
Fitch Ratings affirmed Venezuela's long-term foreign and local
currency Issuer Default Ratings at 'BB-'.  At the same time, the
agency also affirmed the short-term foreign currency IDR at 'B'
and the Country Ceiling at 'BB-'.  Fitch said the ratings'
outlook remains stable.


                        ***********


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 - Latin America is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick,
Maryland USA.  Marjorie C. Sabijon, Sheryl Joy P. Olano, Rizande
de los Santos, Christian Toledo, and Pamella Rita K. Jala,
Editors.

Copyright 2007.  All rights reserved.  ISSN 1529-2746.

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 Latin America subscription rate is US$625 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 Christopher Beard at
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