TCRLA_Public/071011.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 11, 2007, Vol. 8, Issue 202

                          Headlines

A R G E N T I N A

ALITALIA SPA: Names Six Suitors for Italy's 49.9% Stake
ARBOS DISENOS: Proofs of Claim Verification Deadline Is Dec. 12
B&A PRODUCCIONES: Proofs of Claim Verification Ends on Dec. 11
BALL CORP: Reports Settlement Over Breach of Contract Dispute
C.G. MAR: Trustee Filing Individual Reports in Court Tomorrow

CLUB SOCIAL: Trustee Verifies Proofs of Claim Until Oct. 31
CODEPRO SA: Trustee Filing Individual Reports in Court Tomorrow
FARMINTER SA: Creditors Voting on Settlement Plan Tomorrow
GRUPO EMPRESARIO: Trustee Filing General Report Tomorrow
L AMPHITRYON: Creditors Voting on Settlement Plan Tomorrow

LPG ARGENTINA: Trustee Filing Individual Reports on Feb. 1
NOSSE BOX: Seeks for Reorganization Okay from Buenos Aires Court
PANIFICACION RIVADAVIA: Claims Verification Deadline Is Nov. 5
R.G. POLERO: Trustee Filing Individual Reports in Court Tomorrow
SOLICITAS SRL: Proofs of Claim Verification Ends on Nov. 22

TELEFONICA DE ARGENTINA: Eyes Over 1MM Broadband Users in 2008
TELEFONICA DE ARGENTINA: Inks Technology Pact with Bahia Blanca
TRANSPORTES CADAM: Trustee Filing Individual Reports Tomorrow
WORLD COVER: Proofs of Claim Verification Is Until Nov. 28

* ARGENTINA: Tomato Price Hike Results to Boycott


B A R B A D O S

HILTON HOTELS: Amends Offer for 8.000% Quarterly Interest Bonds


B E R M U D A

INTELSAT LTD: Inks National Hockey Network Transmission Pact
REFCO INC: Customers Sue Thomas Lee & Other Former Directors
SEA CONTAINERS: Wants to Allocate Funds to Two Non-Debtor Units


B O L I V I A

INT'L PAPER: Paying US$0.25 Per Share Quarterly Dividends

* BOLIVIA: Gets US$10-Million Loan to Help Education Reforms


B R A Z I L

AMERICAN AIRLINES: Inks Exclusive Opaque Deal with Priceline.com
BRASIL TELECOM: Launching Prepaid Fixed Line Service on Oct. 22
COSAN SA: Commenced Tender Offer & Consent Solicitation
EMI GROUP: Converts US$243 Million Guaranteed Bonds
FERRO CORP: Opens Solar Paste Production Facility in China

GERDAU SA: Looks for Expansion Partners in Asia
GERDAU AMERISTEEL: Announces Revision of Financial Information
HERCULES INC: Earns US$34.5 Million in Second Qtr. Ended June 30
NRG ENERGY: Earns US$149 Million in Second Quarter Ended June 30
PRIDE INTERNATIONAL: Morgan Keegan Keeps Market Perform Rating


C A Y M A N   I S L A N D S

ELYSEE LTD: Sets Final Shareholders Meeting for Nov. 1
ENSEC HOME: Holding Final Shareholders Meeting on Nov. 1
LAKEPORT INVESTMENTS: Final Shareholders Meeting Is on Nov. 1
MERCOSUR OPPORTUNITY: Sets Final Meeting for Nov. 1
MOTHERROCK ENERGY: Final Shareholders Meeting Is on Nov. 1

PINE INVESTMENTS: Will Hold Final Shareholders Meeting on Nov. 1
SAILFISH GLOBAL: Sets Final Shareholders Meeting for Nov. 1
SAILFISH GLOBAL (MASTER): Last Shareholders Meeting Is on Nov. 1
SUPER H: Will Hold Final Shareholders Meeting on Nov. 1
TATI LTD: Holding Final Shareholders Meeting on Nov. 1


C O L O M B I A

ALCATEL-LUCENT: Eyes Up To 8 LatAm Internet Protocol TV Projects
BRIGHTPOINT INC: Subsidiary Signs Distribution Pact with e2GO

* COLOMBIA: To Open Gas Pipeline with Venezuela, Minister Says


C O S T A   R I C A

U.S. AIRWAYS: Flight Attendants to Hold Rally on October 16

* COSTA RICA: CAFTA Referendum Shows Favorable Results


D O M I N I C A N   R E P U B L I C

AES CORPORATION: To Offer US$500 Million Unsecured Senior Notes


E C U A D O R

PETROECUADOR: Oil Output Is at 255,082 Barrels Per Day in August

* ECUADOR: Will Audit 1980s & 1990s Oil Contracts


E L   S A L V A D O R

AES CORP: Fitch Rates US$500 Million Senior Notes at BB/RR1
AES CORP: Moody's Puts B1 Rating on US$500 Mil. Proposed Notes
AES CORP: S&P Affirms Corporate Credit Rating at BB-


G U A T E M A L A

IMAX CORP: Will Restate Financial Records on Real Estate Leases


G U Y A N A

DIGICEL GROUP: Phone Tower May Cause Private Property Collapse


M E X I C O

ACCELLENT INC: Selects Robert Kirby as President & CEO
DURA AUTOMOTIVE: Noteholders Appeal Amendment to Backstop Deal
GRUPO MEXICO: Court Allows Cananea Strike To Continue
PRIDE INTERNATIONAL: Robert Phillips Joins Board of Directors
UNITED RENTALS: Fitch Affirms BB- Issuer Default Rating


P E R U

CUMMINS INC: Paying 25 Cents Per Share Dividend on Nov. 30

* PERU: State Firm Inks Hydrocarbons Pact with Reliance


P U E R T O   R I C O

ADVANCED MEDICAL: Names M. Lambert as Chief Financial Officer
DORAL FINANCIAL: Hires Denise Segarra Sacarello as Senior VP
FOOT LOCKER: S&P Lowers Corporate Credit Rating to BB
GENESCO INC: Declares Dividends for Quarter Ending Nov. 3
KOOSHAREM CORP: S&P Assigns B+ Rating on US$84 Mln. Bank Loan

NEWCOMM WIRELESS: Court Confirms Chapter 11 Liquidation Plan


T R I N I D A D   &   T O B A G O

DIGICEL: Court Grants Plea To Have 3 Directors in Proceedings


V E N E Z U E L A

ARVINMERITOR INC: Signs Six-Year Contract with Electronic Data
CHRYSLER LLC: UAW Strike Deadline Looms, Contract Talks Stall
PETROLEOS DE VENEZUELA: Orinoco Has 100B Barrels in Oil Reserves
SHAW GROUP: Bags Deals fron Army Corps & Dept. of Agriculture

* VENEZUELA: To Open Gas Pipeline with Colombia, Minister Says


                         - - - - -


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


ALITALIA SPA: Names Six Suitors for Italy's 49.9% Stake
-------------------------------------------------------
Maurizio Prato, chairman of Alitalia S.p.A., informed the Board
of Directors that the company has established contacts, through
the financial advisor Citi, with a significant number of
financial and industrial subjects, both European and non-
European.

Following the analysis of the industrial advisor Roland Berger,
the Board has resolved to carry out discussions to assess the
interest of:

   -- OAO Aeroflot,
   -- Air France-KLM,
   -- AP Holding S.p.A.,
   -- Cordata Baldassarre,
   -- Deutsche Lufthansa AG,
   -- TPG Capital.

Alitalia said it intends to complete such discussions in the
shortest possible timeframe.

                       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.


ARBOS DISENOS: Proofs of Claim Verification Deadline Is Dec. 12
---------------------------------------------------------------
Alejandro S. Fontenla, the court-appointed trustee for Arbos
Disenos SA's bankruptcy proceeding, verifies creditors' proofs
of claim until Dec. 12, 2007.

Mr. Fontenla will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 5 in Buenos Aires, with the assistance of Clerk
No. 9, 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 Arbos Disenos 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 Arbos Disenos'
accounting and banking records will be submitted in court.

La Nacion didn't state the reports submission deadlines.

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

The debtor can be reached at:

       Arbos Disenos SA
       Quirno 943
       Buenos Aires, Argentina

The trustee can be reached at:

       Alejandro S. Fontenla
       Alsina 1170
       Buenos Aires, Argentina


B&A PRODUCCIONES: Proofs of Claim Verification Ends on Dec. 11
--------------------------------------------------------------
Elba Nelida Staniscia, the court-appointed trustee for B&A
Producciones Servicios de Marketing S.R.L.'s bankruptcy
proceeding, verifies creditors' proofs of claim until
Dec. 11, 2007.

Ms. Staniscia 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 B&A
Producciones 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 B&A Producciones'
accounting and banking records will be submitted in court.

Infobae didn't state the reports submission deadlines.

Ms. Staniscia is also in charge of administering B&A
Producciones' assets under court supervision and will take part
in their disposal to the extent established by law.

The trustee can be reached at:

       Elba Nelida Staniscia
       Avenida Rivadavia 3320
       Buenos Aires, Argentina


BALL CORP: Reports Settlement Over Breach of Contract Dispute
-------------------------------------------------------------
Ball Corporation has announced today that Ball Metal Beverage
Container Corp. and Miller Brewing Company had settled their
dispute regarding an alleged breach of contract by Ball Metal.

Under the settlement, Ball Metal will continue to supply all of
Miller's beverage can and end requirements through 2015.  Miller
Brewing Co. is one of Ball Metal's largest customers.

Ball Metal will make a one-time payment to Miller in January
2008 of approximately US$70 million to resolve various business
issues between the parties, who have also agreed to make certain
adjustments to the provisions of Ball Metal's supply
arrangements with Miller.  Further details of the settlement are
confidential.  The overall settlement will result in a third
quarter charge to Ball of approximately US$86 million
(approximately US$52 million after tax).

"We are pleased to have this dispute behind us and that the good
faith mediation process resulted in this settlement," said R.
David Hoover, chairman, president and CEO of Ball Corporation.
"We value Miller Brewing Company's business and are proud to
have been a past recipient of numerous supplier awards from
Miller.  We look forward to performing to the same high level
that merited these awards during the remaining eight-plus years
of our contract."

Ball Corporation is a supplier of high-quality metal and plastic
packaging products for beverage, food and household customers,
and of aerospace and other technologies and services, primarily
for the U.S. government.  Ball Corporation and its subsidiaries
employ more than 15,500 people worldwide and reported 2006 sales
of US$6.6 billion.

Headquartered in Broomfield, Colorado, Ball Corp. --
http://www.ball.com/-- is a supplier of high-quality metal and
plastic packaging products.  It owns Ball Aerospace &
Technologies Corp. -- a developer of sensors, spacecraft,
systems and components for government and commercial customers.
Ball Corp. reported sales of US$5.7 billion in 2005 and the
company employs about 13,100 people worldwide, including
Argentina, Hong Kong and China.

                        *     *     *

As of July 30, 2007, the company holds Moody's Ba1 long-term
corporate family rating, bank loan debt, senior unsecured debt,
and probability of default rating.  Moody's said the outlook is
stable.

Standard & Poor's rates the company's long-term foreign and
local issuer credits at BB+ with a stable outlook.

Fitch also rates the company's bank loan debt at BB+ and long-
term issuer default rating and senior unsecured debt at BB.
Fitch said the outlook is stable.


C.G. MAR: Trustee Filing Individual Reports in Court Tomorrow
-------------------------------------------------------------
Juan Jose Rezzuto, the court-appointed trustee for C.G. Mar
S.A.'s bankruptcy proceeding, will present the validated claims
as individual reports the National Commercial Court of First
Instance in Mar del Plata, Buenos Aires, on Oct. 12, 2007.

Mr. Rezzuto verified creditors' proofs of claim on
Aug. 31, 2007.  He will submit a general report containing an
audit of C.G. Mar's accounting and banking records will be
submitted in court on Nov. 23, 2007.

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

The debtor can be reached at:

         C.G. Mar S.A.
         Belgrano 10.165, Mar del Plata
         Buenos Aires, Argentina

The trustee can be reached at:

         Juan Jose Rezzuto
         Rivadavia 3174, Mar del Plata
         Buenos Aires, Argentina


CLUB SOCIAL: Trustee Verifies Proofs of Claim Until Oct. 31
-----------------------------------------------------------
Betina Isabel Coco, the court-appointed trustee for Club Social
Defensores de Cambaceres' reorganization proceeding, verifies
creditors' proofs of claim until Oct. 31, 2007.

Ms. Coco will present the validated claims in court as
individual reports on Dec. 18, 2007.  The National Commercial
Court of First Instance in La Plata, 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 Club Social 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 Club Social's
accounting and banking records will be submitted in court on
Jan. 17, 2008.

The debtor can be reached at:

       Club Social Defensores de Cambaceres
       San Martin 715, Ensenada
       Buenos Aires, Argentina

The trustee can be reached at:

       Betina Isabel Coco
       Calle 11, Numero 467
       La Plata, Buenos Aires


CODEPRO SA: Trustee Filing Individual Reports in Court Tomorrow
---------------------------------------------------------------
Sebastian Barletta, the court-appointed trustee for Codepro
S.A.'s bankruptcy proceeding, will present the validated claims
as individual reports in the National Commercial Court of First
Instance in Buenos Aires on Oct. 12, 2007.

Mr. Barletta verified creditors' proofs of claim until
Aug. 31, 2007.  He will file a general report containing an
audit of Codepro's accounting and banking records will be
submitted in court on Nov. 23, 2007.

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

The trustee can be reached at:

          Sebastian Barletta
          Norberto de la Riestra 1209
          Buenos Aires, Argentina


FARMINTER SA: Creditors Voting on Settlement Plan Tomorrow
----------------------------------------------------------
Farminter S.A.'s creditors will vote on a settlement plan that
the company will lay on the table on Oct. 12, 2007.

Ester A. Ferraro, the court-appointed trustee for Farminter's
reorganization proceeding, verified creditors' proofs of claim
until Nov. 30, 2006.  She presented the validated claims in
court as individual reports on Feb. 15, 2007.  She also
submitted a general report containing an audit of Farminter's
accounting and banking records on March 29, 2007.

The trustee can be reached at:

          Ester A. Ferraro
          Esmeralda 960
          Buenos Aires, Argentina


GRUPO EMPRESARIO: Trustee Filing General Report Tomorrow
--------------------------------------------------------
Isabel A. Ramirez, the court-appointed trustee for Grupo
Empresario de Servicios Eventuales S.A.'s bankruptcy proceeding,
will file a general report containing an audit of Grupo
Empresario's accounting and banking records in the National
Commercial Court of First Instance in Buenos Aires on
Oct. 12, 2007.

Ms. Ramirez verified creditors' proofs of claim until
June 26, 2007.  She presented the validated claims in court as
individual reports on Aug. 31, 2007.

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

The debtor can be reached at:

          Grupo Empresario de Servicios Eventuales S.A.
          Uruguay 239
          Buenos Aires, Argentina

The trustee can be reached at:

          Isabel A. Ramirez
          Tte. Gral. Juan D. Peron 2082
          Buenos Aires, Argentina


L AMPHITRYON: Creditors Voting on Settlement Plan Tomorrow
----------------------------------------------------------
L Amphitryon S.R.L.'s creditors will vote on a settlement plan
that the company will lay on the table on Oct. 12, 2007.

Luis Di Cesare Luis, the court-appointed trustee for L
Amphitryon's reorganization proceeding, verified creditors'
proofs of claim until Nov. 30, 2006.  She presented the
validated claims in court as individual reports.  She also
submitted a general report containing an audit of L Amphitryon's
accounting and banking records.

The debtor can be reached at:

          L Amphitryon S.R.L.
          Vidal 2016
          Buenos Aires, Argentina

The trustee can be reached at:

          Luis Di Cesare Luis
          Sarmiento 2333
          Buenos Aires, Argentina


LPG ARGENTINA: Trustee Filing Individual Reports on Feb. 1
----------------------------------------------------------
Gustavo Pagliere, the court-appointed trustee for LPG Argentina
SA's bankruptcy proceeding, will present the validated claims as
individual reports in the National Commercial Court of First
Instance No. 9 in Buenos Aires on Feb. 1, 2008.

Mr. Pagliere verified creditors' proofs of claim until
Nov. 19, 2007.  He will submit in court a general report
containing an audit of LPG Argentina's accounting and banking
records on March 14, 2008.

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

The debtor can be reached at:

       LPG Argentina SA
       Paraguay 1178
       Buenos Aires, Argentina

The trustee can be reached at:

       Gustavo Pagliere
       Tucuman 1424
       Buenos Aires, Argentina


NOSSE BOX: Seeks for Reorganization Okay from Buenos Aires Court
----------------------------------------------------------------
Nosse Box S.R.L. has requested for reorganization approval after
failing to pay its liabilities.

The reorganization petition, once approved by the court, will
allow Nosse Box to negotiate a settlement with its creditors in
order to avoid a straight liquidation.

The case is pending in the National Commercial Court of First
Instance in Buenos Aires.

The debtor can be reached at:

          Nosse Box S.R.L.
          Almirante Segui 1251, Departamento 4
          Buenos Aires, Argentina


PANIFICACION RIVADAVIA: Claims Verification Deadline Is Nov. 5
--------------------------------------------------------------
Luis Alberto Ortiz, the court-appointed trustee for Panificacion
Rivadavia S.R.L.'s reorganization proceeding, verifies
creditors' proofs of claim until Nov. 5, 2007.

Mr. Ortiz will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance in San Miguel de Tucuman, Tucuman, 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 Panificacion Rivadavia 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 Panificacion
Rivadavia's accounting and banking records will be submitted in
court.

Infobae didn't state the reports submission deadlines.

The debtor can be reached at:

       Panificacion Rivadavia S.R.L.
       Rivadavia 1197, San Miguel de Tucuman
       Tucuman, Argentina

The trustee can be reached at:

       Luis Alberto Ortiz
       Benjamin Villafane 1450, San Miguel de Tucuman
       Tucuman, Argentina


R.G. POLERO: Trustee Filing Individual Reports in Court Tomorrow
----------------------------------------------------------------
Analia Fernanda Calvo, the court-appointed trustee for R.G.
Polero y Asociados S.R.L.'s bankruptcy proceeding, will present
the validated claims as individual reports in the National
Commercial Court of First Instance in Buenos Aires on
Oct. 12, 2007.

Ms. Calvo verified creditors' proofs of claim until
Aug. 31, 2007.  She will submit a general report containing an
audit of R.G. Polero's accounting and banking records will be
submitted in court on Nov. 23, 2007.

Ms. Calvo is also in charge of administering R.G. Polero's
assets under court supervision and will take part in their
disposal to the extent established by law.

The trustee can be reached at:

          Analia Fernanda Calvo
          Montevideo 589
          Buenos Aires, Argentina


SOLICITAS SRL: Proofs of Claim Verification Ends on Nov. 22
-----------------------------------------------------------
Adriana B. Benzer, the court-appointed trustee for Solicitas
SRL's bankruptcy proceeding, verifies creditors' proofs of claim
until Nov. 22, 2007.

Ms. Benzer will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 6 in Buenos Aires, with the assistance of Clerk
No. 12, 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 Solicitas 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 Solicitas' accounting
and banking records will be submitted in court.

La Nacion didn't state the reports submission deadlines.

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

The debtor can be reached at:

       Solicitas SRL
       Boedo 529
       Buenos Aires, Argentina

The trustee can be reached at:

       Adriana B. Benzer
       Suipacha 576
       Buenos Aires, Argentina


TELEFONICA DE ARGENTINA: Eyes Over 1MM Broadband Users in 2008
--------------------------------------------------------------
Telefnica de Argentina's strategy director Ronald Uthurralt told
the press that the firm would have over one million broadband
connections next year, compared to 800,000 connections expected
this year.

Business News Americas relates that Mr. Uthurralt said at the
Expocomm 2007 event in Buenos Aires that Telefonica de Argentina
will boost investment in the broadband sector next year.
However, it is yet to define exactly how much.

Mr. Uthurralt told BNamericas, "The broadband and mobile
telephony segments both demand increasing investment across the
country."

BNamericas notes that Movistar, Telefonica de Argentina's mobile
unit, will focus much of its 2008 investment plan to the
expansion of coverage for its 3G service, which was launched in
limited areas of Buenos Aires in July 2007.

"Plans for next year include the expansion of 3G coverage in
greater Buenos Aires area. We expect to reach other cities in
the provinces in 2009 although this plan could go faster," Mr.
Uthurralt commented to BNamericas.

Mr. Uthurralt explained to BNamericas that the 3G service is
chiefly to provide mobile broadband for the corporate segment.
Telefonica de Argentina would launch mobile broadband to the
residential segment next year.

Meanwhile, Telefonica de Argentina's wholesale business director
Jos Luis Aiello told BNamericas that although Argentine
regulations disallows telcommunications firms to offer Internet
protocol television, the firm already has the required
technology to begin offering the services.

According to BNamericas, the Argentine federal broadcasting
committee Comfer's head Julio Brbaro had reminded Telefonica de
Argentina that it will encounter regulatory problems once it
tries to launch the television services this year.

"We will not launch any product [if it means going] against
local regulations," Mr. Aiello told BNamericas.

Headquartered in Buenos Aires, Argentina, Telefonica de
Argentina SA -- http://www.telefonica.com.ar/-- provides
telecommunication services, which include telephony business
both in Spain and Latin America, mobile communications
businesses, directories and guides businesses, Internet, data
and corporate services, audiovisual production and broadcasting,
broadband and Business-to-Business e-commerce activities.

                        *     *     *

As reported in the Troubled Company Reporter on Jan. 22, 2007,
Moody's Latin America changed the rating outlook to positive
from stable for Telefonica de Argentina's foreign currency
rating of B2 and for the Aa3.ar (national scale rating).  The
rating action was taken in conjunction with Moody's outlook
change to positive from stable for Argentina's B2 foreign
currency ceiling for bonds and notes on Jan. 16, 2007.
Telefonica de Argentina's foreign currency rating continues to
be constrained by Argentina's B2 ceiling.


TELEFONICA DE ARGENTINA: Inks Technology Pact with Bahia Blanca
---------------------------------------------------------------
Telefonica de Argentina said in a statement that it has signed
an accord with the Bahia Blanca state to improve information
technology implementation for educational projects.

Business News Americas relates that Telefonica de Argentina will
collaborate with Bahia Blanca to develop educational, social and
cultural projects using new technologies.

According to BNamericas, the accord stipulates that six schools
in Bahia Blanca will be provided with "interactive classrooms,"
including:

          -- personal computers,
          -- broadband connections, and
          -- training programs.

Three universities will also be supplied with wireless
broadband, BNamericas states.

Headquartered in Buenos Aires, Argentina, Telefonica de
Argentina SA -- http://www.telefonica.com.ar/-- provides
telecommunication services, which include telephony business
both in Spain and Latin America, mobile communications
businesses, directories and guides businesses, Internet, data
and corporate services, audiovisual production and broadcasting,
broadband and Business-to-Business e-commerce activities.

                        *     *     *

As reported in the Troubled Company Reporter on Jan. 22, 2007,
Moody's Latin America changed the rating outlook to positive
from stable for Telefonica de Argentina's foreign currency
rating of B2 and for the Aa3.ar (national scale rating).  The
rating action was taken in conjunction with Moody's outlook
change to positive from stable for Argentina's B2 foreign
currency ceiling for bonds and notes on Jan. 16, 2007.
Telefonica de Argentina's foreign currency rating continues to
be constrained by Argentina's B2 ceiling.


TRANSPORTES CADAM: Trustee Filing Individual Reports Tomorrow
-------------------------------------------------------------
Jorge Garcia, the court-appointed trustee for Transportes Cadam
S.A.'s bankruptcy proceeding, will present the validated claims
as individual reports in the National Commercial Court of First
Instance in Buenos Aires on Oct. 12, 2007.

Mr. Garcia verified creditors' proofs of claim Aug. 31, 2007.
He will present a general report containing an audit of
Transportes Cadam's accounting and banking records in court on
Nov. 26, 2007.

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

The trustee can be reached at:

          Jorge Garcia
          Uruguay 572
          Buenos Aires, Argentina


WORLD COVER: Proofs of Claim Verification Is Until Nov. 28
----------------------------------------------------------
Raul Alberto Sena, the court-appointed trustee for World Cover
S.R.L.'s bankruptcy proceeding, verifies creditors' proofs of
claim until Nov. 28, 2007.

Mr. Sena 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 World Cover
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 World Cover's
accounting and banking records will be submitted in court.

Infobae didn't state the reports submission deadlines.

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

The trustee can be reached at:

       Raul Alberto Sena
       Bartolome Mitre 734
       Buenos Aires, Argentina


* ARGENTINA: Tomato Price Hike Results to Boycott
-------------------------------------------------
Jude Webber at the Financial Times reports that consumer groups
in Argentina have launched week-long boycotts of tomatoes after
prices rose to almost US$6 per kilo last week.

Food prices in Argentina are rising at 22.5%, higher than any
other sector in the country, according to Fausto Spotorno at
private consultancy firm OJF, the FT relates.

Experts suspect that inflation figures in the South American
country is manipulated.  The FT says that President Nestor
Kirchner has defended figures released by the National
Statistics Institute's.  He said that the figures are "perfect,"
despite months of apparent government manipulation of data, the
FT notes.

Economists predict inflation to end the year at 15% to 20%,
twice that of what the government reports, the FT says.

Meanwhile, the consumer groups who staged the boycott succeeded
in lowering tomato prices to US$3.20 per kilo.  By Tuesday, the
salad garnish was selling at US$1.90 a kilo, the FT states,
quoting producers.

Tomato growers blamed the frost coming from Brazil's direction
for the increase in prices.  They claimed that production has
lowered considerably, driving the increase in prices.

                        *     *     *

Fitch Ratings assigned these ratings on Argentina:

                     Rating     Rating Date
                     ------     -----------
   Country Ceiling     B+      Aug. 1, 2006
   Local Currency
   Long Term Issuer    B       Aug. 1, 2006
   Short Term IDR      B       Dec. 14, 2005
   Long Term IDR       RD      Dec. 14, 2005




===============
B A R B A D O S
===============


HILTON HOTELS: Amends Offer for 8.000% Quarterly Interest Bonds
---------------------------------------------------------------
Hilton Hotels Corporation has amended further its previously
announced tender offer and consent solicitation for its 8.000%
Quarterly Interest Bonds due 2031.  Hilton has determined to
amend the terms of its tender offer and consent solicitation for
the Bonds to increase the Bonds Total Consideration offered to
holders who tender their Bonds at or prior to the Amended
Consent Payment Deadline.  The total consideration for each
US$25.00 principal amount of the Bonds validly tendered and not
validly withdrawn pursuant to the tender offer and consent
solicitation for the Bonds at or prior to the Amended Consent
Payment Deadline has been increased to US$25.25 (such price
being rounded to the nearest US$0.01).

Hilton has also extended the consent payment deadline applicable
to the tender offer and consent solicitation for the Bonds.  The
revised consent payment deadline applicable to the Bonds is 5:00
p.m., New York City time, on Oct. 16, 2007, unless extended or
terminated by Hilton in its sole discretion (as the same may be
modified, the "Amended Consent Payment Deadline").

Holders of Bonds must validly tender and not validly withdraw
their Bonds at or prior to the Amended Consent Payment Deadline
in order to be eligible to receive the Bonds Total Consideration
pursuant to the tender offer and consent solicitation for the
Bonds.  Holders of Bonds validly tendering and not validly
withdrawing their Bonds after the Amended Consent Payment
Deadline and at or prior to the Offer Expiration Date will be
eligible to receive only the Bonds tender offer consideration,
which is equal to the Bonds Total Consideration (US$25.25 per
US$25.00 principal amount of Bonds) less the consent payment
(US$1.00 per US$25.00 principal amount of Bonds).

Except as described in this press release, the other terms of
the tender offers and consent solicitations for Hilton's 7.625%
Notes due 2008, 7.200% Notes due 2009, 8.250% Notes due 2011,
7.625% Notes due 2012, 7.500% Notes due 2017, 7.430% Chilean
Inflation-Indexed Notes due 2009 and the Bonds, remain
unchanged.

The tender offer for each issue of Securities will expire at
8:00 a.m., New York City time, on Oct. 24, 2007, unless extended
or earlier terminated by Hilton in its sole discretion.  As
indicated in the Offer to Purchase, it is expected that the
Offer Expiration Date will be extended to coincide with the date
that the Merger becomes effective.

Each tender offer and consent solicitation is being made
independently of the other tender offers and consent
solicitations and Hilton reserves the right to terminate,
withdraw or amend each tender offer and consent solicitation
independently of the other tender offers and consent
solicitations at any time and from time to time.

The tender offers and consent solicitations relating to the
Securities are made upon the terms and conditions set forth in
Hilton's Offer to Purchase and Consent Solicitation Statement
dated Sept. 12, 2007, and the related Consent and Letter of
Transmittal, as previously amended and as amended hereby.  The
tender offers and consent solicitations are being conducted in
connection with the previously announced merger agreement that
provides for the acquisition of Hilton by BH Hotels LLC, an
entity controlled by investment funds affiliated with The
Blackstone Group L.P.  The tender offers and consent
solicitations are subject to the satisfaction of certain
conditions, including the Merger having occurred, or such Merger
occurring substantially concurrent with the Offer Expiration
Date.  However, the completion of the tender offers and consent
solicitations is not a condition to completion of the Merger.

Hilton has retained Bear, Stearns & Co. Inc. and UBS Investment
Bank to act as the lead Dealer Managers for the tender offers
and lead Solicitation Agents for the consent solicitations, and
they can be contacted at (877) 696-BEAR (toll-free)
((212) 272-5112 (collect)) and (888) 719-4210 (toll-free) ((203)
719-4210 (collect)), respectively.  Banc of America Securities
LLC, Deutsche Bank Securities Inc., Goldman, Sachs & Co., Lehman
Brothers Inc., Merrill Lynch, Pierce, Fenner & Smith
Incorporated and Morgan Stanley & Co. Incorporated are also
acting as Dealer Managers and Solicitation Agents in connection
with the tender offers and the consent solicitations.  Requests
for documentation may be directed to Global Bondholder Services
Corporation, the Information Agent, which can be contacted at
(212) 430-3774 (for banks and brokers only) or (866) 924-2200
(for all others toll-free).

Headquartered in Beverly Hills, California, Hilton Hotels Corp.
-- http://www.hilton.com/-- together with its subsidiaries,
engages in the ownership, management, and development of hotels,
resorts, and timeshare properties, as well as in the franchising
of lodging properties in the United States and internationally,
including Australia, Austria, Barbados, Finland, India,
Indonesia, Trinidad and Tobago, Philippines and Vietnam.

                        *     *     *

As reported on May 1, 2007, Standard & Poor's Ratings Services
said its rating and outlook on Hilton Hotels Corp.
(BB+/Stable/--) would not be affected by the company's
announcement that it has entered into an agreement with Morgan
Stanley Real Estate to sell up to 10 hotels for approximately
US$612 million in proceeds (net of property level debt
repayment, taxes, and transaction costs).  Upon the close of the
transactions, Hilton Hotels plans to use the net proceeds to
repay debt.

Standard & Poor's rating upgrade for Hilton Hotels in March 2007
incorporated the expectation that the company would sell a
meaningful level of additional assets over the near term, which
would likely lead to additional debt reduction.  Still, Standard
& Poor's is encouraged by the expected transaction multiple
related to today's announcement.  If the lodging transaction
market remains strong, enabling Hilton Hotels to generate
substantial proceeds from remaining asset sales, if these
proceeds are used for debt reduction, and if the lodging
environment remains strong, an outlook revision to positive
could be considered as 2007 progresses.  Any movement signaling
the potential for a higher rating will depend on Hilton Hotels's
commitment to maintaining credit measures aligned with higher
ratings over the lodging cycle.

In February 2007, Moody's Investors Service upgraded Hilton
Hotels Corporation's corporate family rating to Ba1 from Ba2
reflecting a reduction in leverage from a faster than expected
pace of asset sales and strong earnings during 2006.  Adjusted
debt to EBITDAR has improved to around 5.0x from 6.0x in
January 2006.




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


INTELSAT LTD: Inks National Hockey Network Transmission Pact
------------------------------------------------------------
Intelsat Ltd. has signed a contract with the National Hockey
League Network for distribution services of its new HD channel.
The NHL Network transmission agreement is for full-time Intelsat
capacity throughout the continental United States.

The NHL Network, the League's 24-hour HD sports network, will
transmit via Intelsat's Galaxy 15 satellite, located at 133
degree W.  Intelsat's Galaxy 15 satellite resides within
Intelsat's Galaxy neighborhood, and reaches thousands of cable
headends, making it ideal for this channel launch.

"Key cable distribution access is paramount for us as we begin
the launch campaign for our HD channel," said Patti Fallick, NHL
Group Vice President of Media Operations and Planning.
"Intelsat's flexible network, market access and in-orbit
redundancy helps ensure near- and long-term business growth for
our new channel."

"High Definition is truly at its tipping point and its growth
continues to be fueled by sports programming," said Ron
Rosenthal, Intelsat's Regional Vice President, Broadcast
Solutions.  "Our ability to tailor customized solutions for both
full-time and occasional use HD and SD video services is what
continues to set us apart from other operators."

The NHL Network joins a list of anchor tenants, such as FOX,
ESPN and HBO, who rely on Intelsat's Galaxy neighborhood for
transmission of their HD programming.  Globally, Intelsat
currently supports more than 26 HD channels.

Intelsat, headquartered in Bermuda, is the largest fixed
satellite service operator in the world and is owned by Apollo
Management, Apax Partners, Madison Dearborn, and Permira.

As reported in the Troubled Company Reporter-Latin America on
June 22, 2007, Moody's Investors placed the long-term debt
ratings of the Intelsat Ltd. group of companies on review for
possible downgrade.

Issuer: Intelsat (Bermuda), Ltd.

  -- Senior Unsecured Bank Credit Facility, Placed on Review for
     Possible Downgrade, currently B2

  -- Senior Unsecured Regular Bond/Debenture, Placed on Review
     for Possible Downgrade, currently Caa1

Issuer: Intelsat Corporation

  -- Senior Secured Bank Credit Facility, Placed on Review for
     Possible Downgrade, currently Ba2

  -- Senior Secured Regular Bond/Debenture, Placed on Review for
     Possible Downgrade, currently Ba2

  -- Senior Unsecured Regular Bond/Debenture, Placed on Review
     for Possible Downgrade, currently B2

Issuer: Intelsat Holding Corporation

  -- Senior Unsecured Regular Bond/Debenture, Placed on Review
     for Possible Downgrade, currently Caa1

Issuer: Intelsat Intermediate Holding Company, Ltd.

  -- Senior Unsecured Regular Bond/Debenture, Placed on Review
     for Possible Downgrade, currently B3

Issuer: Intelsat Subsidiary Holding Co. Ltd.

  -- Senior Secured Bank Credit Facility, Placed on Review for
     Possible Downgrade, currently Ba2

  -- Senior Unsecured Regular Bond/Debenture, Placed on Review
     for Possible Downgrade, currently B2

Issuer: Intelsat, Ltd.

  -- Probability of Default Rating, Placed on Review for
     Possible Downgrade, currently B2

  -- Corporate Family Rating, Placed on Review for Possible
     Downgrade, currently B2

  -- Senior Unsecured Regular Bond/Debenture, Placed on Review
     for Possible Downgrade, currently Caa1

Outlook Actions:

Issuer: Intelsat, Ltd.

  -- Outlook, Changed To Rating Under Review From Stable

As reported in the Troubled Company Reporter-Latin America on
June 22, 2007, Fitch Ratings placed these Intelsat Ltd. ratings
on Rating Watch Negative:

    -- Issuer Default Rating 'B';
    -- Senior unsecured notes 'CCC/RR6'.

Fitch also placed the ratings of Intelsat's subsidiaries on
Rating Watch Negative.

Fitch placed these ratings of Intelsat subsidiaries on Rating
Watch Negative:

Intelsat (Bermuda), Ltd.

    -- Issuer Default Rating 'B';
    -- Senior unsecured guaranteed notes 'BB-/RR2';
    -- Guaranteed Term Loan 'BB-/RR2';
    -- Senior unsecured non-guaranteed notes 'CCC+/RR6'.

Intelsat Intermediate Holding Company, Ltd. (Int Holdco)

    -- Issuer Default Rating 'B';
    -- Senior unsecured discount notes 'B-/'RR5'.

Intelsat Subsidiary Holding Company, Ltd. (Sub Holdco)

    -- Issuer Default Rating 'B';
    -- Senior secured credit facilities 'BB/RR1';
    -- Senior unsecured notes 'BB-/RR2'.

Intelsat Corporation (f/k/a PanAmSat Corporation)

    -- Issuer Default Rating (IDR) 'B';
    -- Senior secured credit facilities 'BB/RR1';
    -- Senior secured notes 'BB/RR1';
    -- Senior unsecured notes 'B/RR4'.

As reported in the Troubled Company Reporter-Latin America on
June 21, 2007, Standard & Poor's Ratings Services lowered its
ratings on Pembroke, Bermuda-based Intelsat Ltd. and affiliated
entities, including the corporate credit rating, which was
lowered to 'B+' from 'BB-'.  All ratings were immediately placed
on CreditWatch with negative implications.


REFCO INC: Customers Sue Thomas Lee & Other Former Directors
------------------------------------------------------------
The Refco Litigation Trusts disclosed that a number of large
customers of Refco Capital Markets Ltd. have filed two lawsuits
against, among others, Thomas H. Lee Partners L.P., Thomas H.
Lee personally, and several TH Lee representatives who served as
officers and directors of Refco.

The lawsuits, filed in the United States District Court for the
Southern District of New York, allege violations of federal
securities laws by TH Lee and related entities, the TH Lee
directors, as well as a number of other former officers and
directors of Refco Inc.  Violations of federal securities laws
by Grant Thornton, the former auditor of RCM and Refco, are also
alleged in one of the two lawsuits.  Pursuant to the Refco Plan
of Reorganization, the proceeds of these customer claims have
been assigned to the Refco Creditors' Trust.

Both lawsuits allege that certain Refco officers engaged in a
fraudulent scheme in which they converted securities owned by
the plaintiffs, which were supposed to have been held in the
custody of RCM on behalf of the plaintiffs.

The lawsuits allege that, without the customers' knowledge,
authorization or consent, the Refco officers directed Refco
employees to sell securities belonging to the plaintiffs.  The
proceeds from these sales were then siphoned out of RCM and used
for other purposes at Refco, allowing the defendants to create
and maintain a false and misleading appearance of financial
health and strength at Refco, which in turn enabled the
defendants to reap large cash benefits.

The lawsuits allege that the fraudulent scheme "required the
participation of, and had to have been apparent to, all of the
Defendants. . . Indeed, during the relevant period, the amounts
stolen from RCM customer accounts dwarfed Refco's total
capital."

The lawsuits allege that the fraudulent scheme began prior to TH
Lee's leveraged buyout of Refco in June 2004, and continued
throughout the period in which TH Lee controlled and directed
Refco and its affairs.

The lawsuits seek hundreds of millions of dollars in damages and
interest for claims relating to violation of Section 10(b) and
Section 20(a) of the Exchange Act.

Grant Thornton, one of the lawsuits filed alleges, would
undoubtedly have uncovered the frauds at Refco if the firm had
properly performed its audit function in accordance with
Generally Accepted Auditing Standards.  Instead, Grant Thornton
"compromised its independence and made the conscious decision to
conceal the massive ongoing fraud in order to keep its marquee
client happy."  The Complaint states, "This is not a case of an
auditor overlooking a few details.  Grant Thornton completely
abandoned its obligations of independence, learned first-hand of
the fraud, and then perpetrated that fraud by providing clean
audit opinions, which it knew to be false in light of Refco's
grotesque accounting manipulations."

The customers in the lawsuit against Grant Thornton relied on
the RCM and Refco financial statements, and Grant Thornton's
audit opinions with respect to those financial statements, in
determining to do business with, and entrust their securities
to, RCM.  As a result of that reliance, the defendants were able
to perpetrate their fraudulent scheme by illegally selling
customer securities without the customers' knowledge.

Marc S. Kirschner, Trustee of the Refco Litigation Trusts, said,
"The Refco Litigation Trusts, as previously announced, also
filed suit against TH Lee, Thomas H. Lee personally, several TH
Lee representatives who served as officers and directors of
Refco, and related parties, pertaining to their role in the
fraud and subsequent Chapter 11 filing by Refco.  That lawsuit
is seeking hundreds of millions of dollars in damages and
penalties from TH Lee and the related parties for common law
claims arising from breach of fiduciary duty, unjust enrichment
and receipt of illegal dividends, as well as bankruptcy claims
for fraudulent conveyances and preferences."

              About the Refco Litigation Trusts

The two Refco Litigation Trusts were created under the Refco
Plan of Liquidation, which became effective on Dec. 26, 2006.
Marc S. Kirschner, the former Chapter 11 Trustee for Refco
Capital Markets LLC, serves as Trustee for the Trusts.  The
primary purpose of the Trusts is to pursue all Refco estate
claims and claims of certain electing creditors against third
parties, with recoveries to be distributed in accordance with
the terms of the Refco Plan of Liquidation.  The Trusts have
US$25 million of funding to support their pursuit of such
claims.  In February 2007, the Trusts retained the law firms
Milbank, Tweed, Hadley, & McCloy, LLP and Quinn Emanuel Urquhart
Oliver & Hedges, LLP to assist in their work and, since then,
have been engaged in a comprehensive investigation of potential
claims against third parties.  The Trusts have filed three
lawsuits against third parties involved in the Refco frauds.

                      About Refco Inc.

Based in New York, Refco Inc. -- http://www.refco.com/-- is a
diversified financial services organization with operations in
14 countries and an extensive global institutional and retail
client base.  Refco's worldwide subsidiaries are members of
principal U.S. and international exchanges, and are among the
most active members of futures exchanges in Chicago, New York,
London and Singapore.  In addition to its futures brokerage
activities, Refco is a major broker of cash market products,
including foreign exchange, foreign exchange options, government
securities, domestic and international equities, emerging market
debt, and OTC financial and commodity products.  Refco is one of
the largest global clearing firms for derivatives.

The Company and 23 of its affiliates filed for chapter 11
protection on Oct. 17, 2005 (Bankr. S.D.N.Y. Case No. 05-60006).
J. Gregory Milmoe, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP, represent the Debtors in their restructuring efforts.  Luc
A. Despins, Esq., at Milbank, Tweed, Hadley & McCloy LLP,
represents the Official Committee of Unsecured Creditors.  Refco
reported US$16.5 billion in assets and US$16.8 billion in debts
to the Bankruptcy Court on the first day of its chapter 11
cases.

The Court confirmed the Modified Joint Chapter 11 Plan of
Refco Inc. and certain of its direct and indirect subsidiaries,
including Refco Capital Markets Ltd. and Refco F/X Associates
LLC, on Dec. 15, 2006.  That Plan became effective on
Dec. 26, 2006.

Refco Commodity's exclusive period to file a chapter 11 plan
expired on Feb. 13, 2007.  (Refco Bankruptcy News, Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/
or 215/945-7000)


SEA CONTAINERS: Wants to Allocate Funds to Two Non-Debtor Units
---------------------------------------------------------------
Sea Containers Ltd. and its debtor-affiliates ask the U.S
Bankruptcy Court for the District of Delaware for permission to
allocate:

  (a) US$300,000 of the funds remaining in the Finnjet Reserve;

  (b) US$100,000 of the funds received by SC Treasury from SC
      Opera; and

  (c) US$500,000 of the funds remaining in the Contingency
      Reserve,

to their non-debtor subsidiaries, Periandros S.A. and Pualista
Containers Maratismos Ltda.

The US$900,000 requested allocation will be used to fund
US$400,000 worth of repair and maintenance costs incurred by
Periandros and US$500,000 worth of land taxes and associated
legal costs incurred by Paulista, Sean T. Greecher, Esq., at
Young Conaway Stargatt & Taylor, in Wilmington, Delaware, says.

Mr. Greecher relates that the allocation of funds to Periandros
and Paulista will allow them to satisfy certain of their
outstanding liabilities, which in turn allow them to maintain
the operation of their businesses for a sufficient time to allow
for the marketing and maximization of the sale or disposal value
of the businesses to the ultimate benefit of the Debtors'
estates and creditors.

Headquartered in Hamilton, Bermuda, Sea Containers Ltd. --
http://www.seacontainers.com/-- provides passenger and freight
transport and marine container leasing.  Registered in Bermuda,
the company has regional operating offices in London, Genoa, New
York, Rio de Janeiro, Sydney, and Singapore.  The company is
owned almost entirely by United States shareholders and its
primary listing is on the New York Stock Exchange (SCRA and
SCRB) since 1974.  On Oct. 3, the company's common shares and
senior notes were suspended from trading on the NYSE and NYSE
Arca after the company's failure to file its 2005 annual report
on Form 10-K and its quarterly reports on Form 10-Q during 2006
with the U.S. Securities and Exchange Commission.

Through its GNER subsidiary, Sea Containers Passenger Transport
operates Britain's fastest railway, the Great North Eastern
Railway, linking England and Scotland.  It also conducts ferry
operations, serving Finland and Estonia as well as a commuter
service between New York and New Jersey in the U.S.

Sea Containers Ltd. and two subsidiaries filed for chapter 11
protection on Oct. 15, 2006 (Bankr. D. Del. Case No. 06-11156).
Edmon L. Morton, Esq., Edwin J. Harron, Esq., Robert S. Brady,
Esq., Sean Matthew Beach, Esq., and Sean T. Greecher, Esq., at
Young, Conaway, Stargatt & Taylor, represent the Debtors in
their restructuring efforts.

The Official Committee of Unsecured Creditors and the Financial
Members Sub-Committee of the Official Committee of Unsecured
Creditors of Sea Containers Ltd. is represented by William H.
Sudell, Jr., Esq., and Thomas F. Driscoll, Esq., at Morris,
Nichols, Arsht & Tunnell LLP.  Sea Containers Services, Ltd.'s
Official Committee of Unsecured Creditors is represented by
attorneys at Willkie Farr & Gallagher LLP.  In its schedules
filed with the Court, Sea Containers disclosed total assets of
US$62,400,718 and total liabilities of US$1,545,384,083.  The
Debtors' exclusive period to file a chapter 11 plan expires on
Dec 21, 2007.  (Sea Containers Bankruptcy News, Issue No. 27;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)




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


INT'L PAPER: Paying US$0.25 Per Share Quarterly Dividends
---------------------------------------------------------
International Paper has declared a regular quarterly dividend of
US$0.25 per share for the period from Oct. 1, 2007, to
Dec. 31, 2007, inclusive, on its common stock.  This dividend is
payable on Dec. 14, 2007, to holders of record at the close of
business on Nov. 16, 2007.

The company also declared a regular quarterly dividend of US$1
per share for the period from Oct. 1, 2007, to Dec. 31, 2007,
inclusive, on its preferred stock.  This dividend is also
payable on Dec. 14, 2007, to holders of record at the close of
business on Nov. 16, 2007.

                   About International Paper

Based in Stamford, Connecticut, International Paper Co. (NYSE:
IP) -- http://www.internationalpaper.com/-- is in the forest
products industry for more than 100 years.  The company is
currently transforming its operations to focus on its global
uncoated papers and packaging businesses, which operate and
serve customers in the U.S., Europe, South America and Asia.
Its South American operations include, among others, facilities
in Argentina, Brazil, Bolivia, and Venezuela.  These businesses
are complemented by an extensive North American merchant
distribution system.  International Paper is committed to
environmental, economic and social sustainability, and has a
long-standing policy of using no wood from endangered forests.

                        *     *     *

International Paper Co. carries Moody's Investors Service's Ba1
senior subordinate rating and Ba2 Preferred Stock rating.


* BOLIVIA: Gets US$10-Million Loan to Help Education Reforms
------------------------------------------------------------
The World Bank's Board of Directors has approved a US$10 million
loan to support the La Paz Municipal Government's education
strategy by increasing access to secondary education for
adolescents and young people and improving their permanence in
the education system.  The loan will also help to improve the
quality and relevance of primary and secondary education and to
strengthen the decentralized education management capacity of
the Municipality.

The Municipality of La Paz Secondary Education Transformation
Project supports the goals set out in the new administration's
National Development Plan and the Strategy of the Municipality
of La Paz for 2006-2011 as outlined in the Municipal Development
Plan.  The loan will help to increase the number of available
secondary schooling places by 19,600, representing 41 percent of
current enrollment.  It will also increase secondary completion
rates of approximately 5,130 students at risk of educational
failure -- defined as having two or more years of age/grade
distortion -- through an intervention providing direct
pedagogical support to such students.

"Bolivia has made significant progress in expanding education
access over the past few decades, having obtained a high primary
enrollment of 94 percent and completion rate of 77.8 percent in
2005", said David Tuchschneider, World Bank acting Country
Manager in Bolivia.  "However, universal coverage in basic
education remains a challenge, especially among the
disadvantaged groups where dropout and repetition rates remain
high and learning achievement and access to secondary education
are low.  Challenges in secondary education are growing", he
added.

Specifically, the loan will support the La Paz Municipal
Government's objectives by:

   -- Supporting the Municipal Office of Human Development
      (OMDH) to promote expanded coverage in secondary education
      (grades 9 through 12) and completion in the upper primary
      (grades 7 and 8) and early secondary grades.

   -- Helping the Municipality to improve the quality if basic
      education with a focus in secondary education.

   -- Strengthening management capacity at the municipal and
      school levels to facilitate actions to improve access to
      and completion and quality of secondary education.

This component will also develop a low-stakes testing system
that can provide information on student learning while
contributing to strengthening teacher's pedagogical capacities.

This US$10 million loan has a 10-year grace period with a
maturity of 35 years.

                        *     *     *

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
===========


AMERICAN AIRLINES: Inks Exclusive Opaque Deal with Priceline.com
----------------------------------------------------------------
American Airlines Inc. has an entered into an exclusive
distribution agreement with priceline.com.  Terms of the
agreement were not disclosed.

"Opaque" refers to a type of purchase, such as priceline.com's
Name Your Own Price(R), where a customer buys an airline ticket
and is provided with the name of the airline and the itinerary
information after the purchase is completed.  By being flexible
with their travel plans, priceline.com's Name Your Own Price(R)
customers can save up to 40% compared to published prices found
on other major online travel reservation sites.  American also
sells its tickets through priceline.com's Published-Price
airline ticketing service.

"Consumers recognize the quality, service and reliability of
American Airlines, and we are pleased to be named as the
exclusive opaque ticket distributor for American," said Mark
Koehler, Senior Vice President, Air for priceline.com.  "We
believe our customers will appreciate the added savings that
this partnership will deliver."

"Priceline.com has worked hard to refine its Name Your Own
Price(R) service into what we believe to be the most supplier-
friendly opaque sales environment on the Internet today," said
David Cush, Senior Vice President - Global Sales for American
Airlines.  "In recognition of that effort, American Airlines has
decided to deepen our business relationship."

                     About Priceline.com(R)

Priceline.com Incorporated (Nasdaq: PCLN) operates
priceline.com, a leading U.S. online travel service for value-
conscious leisure travelers, and Booking.com, a leading
international online hotel reservation service.

In the U.S., priceline.com gives customers more ways to save on
their airline tickets, hotel rooms, rental cars, vacation
packages and cruises than any other Internet travel service.  In
addition to getting the best published prices, leisure travelers
can narrow their searches using priceline.com's TripFilter(TM)
advanced search technology, create packages to save even more
money, and take advantage of priceline.com's famous Name Your
Own Price(R) service, which can deliver the lowest prices
available.  Booking.com operates one of Europe's fastest growing
hotel reservation services through a network of affiliated Web
sites.  Booking.com operates in 53 countries in 16 languages and
offers its customers access to over 35,000 participating hotels
worldwide.

Priceline.com also operates the following travel websites:
Travelweb.com, Lowestfare.com, RentalCars.com and BreezeNet.com.
Priceline.com also has a personal finance service that offers
home mortgages, refinancing and home equity loans through an
independent licensee.  Priceline.com licenses its business model
to independent licensees, including priceline mortgage and
certain international licensees.

                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.


BRASIL TELECOM: Launching Prepaid Fixed Line Service on Oct. 22
---------------------------------------------------------------
Published reports say that Brasil Telecom will launch a prepaid
fixed line service on Oct. 22, 2007.

Business News Americas relates that packages of 50, 100 and 200
minutes will be available for the Controle Total service at a
cost starting from BRL19.90 per month.

Controle Total can be used for calls to fixed lines of any local
firm and Brasil Telecom mobile phones.  Additional credit can
also be bought for making calls to cell phones of other
operators as well as national and international long distance
calls, BNamericas states.

Headquartered in Brasilia, Brazil, Brasil Telecom Participacoes
SA -- http://www.brasiltelecom.com.br-- is a holding company
that conducts substantially all of its operations through its
wholly owned subsidiary, Brasil Telecom SA.  The fixed-line
telecommunications services offered to the company's customers
include local services, including all calls that originate and
terminate within a single local area in the region, as well as
installation, monthly subscription, measured services, public
telephones and supplemental local services; intra-regional
long-distance services, which include intrastate and interstate
calls; interregional and international long-distance services;
network services, including interconnection and leasing; data
transmission services; wireless services, and other services.

                        *     *     *

To date, Brasil Telecom carries Moody's Investors Service's Ba1
senior unsecured and credit default swap ratings.


COSAN SA: Commenced Tender Offer & Consent Solicitation
-------------------------------------------------------
Cosan S.A. Industria e Comercio has commenced an offer to
purchase for cash any and all of its outstanding 9.00% Senior
Notes Due 2009, (Cusip Nos. 22111YAA3 and P31573AA9 and ISIN
Nos. US22111YAA38 and USP31573AA94).  In connection with the
Tender Offer, Cosan is also soliciting the consents of Holders
of the Notes to the adoption of certain amendments to the Notes.
Cosan is seeking to amend the Notes to make the covenants and
events of default in the Notes substantially consistent with the
covenants and events of default set forth in its outstanding
US$400.0 million 7.00% Notes Due 2017, which were issued in
January 2007.

The Total Consideration for each US$1,000 principal amount of
Notes validly tendered and accepted for payment pursuant to the
Tender Offer will be calculated as of 2:00 p.m., New York City
time, on Oct. 22, 2007 (Price Determination Date) and will be an
amount equal to (i) the present value on October 25, 2007
(Initial Settlement Date) of each US$1,000 principal amount of
Notes and all scheduled interest payments on the Notes from the
Initial Settlement Date up to and including the maturity date,
discounted on the basis of a yield to the maturity date equal to
the sum of (a) the bid-side yield on the reference U.S. Treasury
Security listed in the table below, as calculated by the dealer
manager in accordance with standard market practice, plus (b)
the fixed spread listed in the table below, minus accrued and
unpaid interest on the Notes from the last interest payment date
to, but not including, the Initial Settlement Date (Total
Consideration).

Reference           Reference   Fixed Spread     Consent Fee
U.S. Treasury         Source*   in basis        (per US$1,000
Security                         points)           principal
                                                    amount of
                                                      Notes)

3.375% U.S. Treasury   BBT5       +50               US$10.00
Notes due Oct. 15, 2009

* Refers to the page number on Bloomberg Government Bond
   Trader page BBT5.

Cosan is offering a Consent Fee of USUS$10.00 for every US$1,000
principal amount of Notes to holders who validly delivered
Consents to the Proposed Amendments before 5:00 p.m., New York
City time, on Oct. 22, 2007 (Consent Date).  The Tender Offer
expires at Midnight, New York City time, on Nov. 5, 2007
(Expiration Date).

Holders who participate in the Tender Offer and/or the Consent
Solicitation may either:

          (a) tender their Notes and grant the related Consents
              pursuant to the Tender Offer, or

          (b) grant Consents without tendering the related Notes
              pursuant to the Consent Solicitation.

Holders that tender Notes and grant the related Consents prior
to the Consent Date in the manner described below will be
eligible to receive the Total Consideration, plus any Accrued
Interest (as defined in the Offer to Purchase and Consent
Solicitation Statement), which, at Cosan's option, will be
payable on the Initial Settlement Date.  Holders that tender
Notes after the Consent Date but before the Expiration Date will
be eligible to receive the Tender Offer Consideration (as
defined in the Offer to Purchase and Consent Solicitation
Statement) plus any Accrued Interest, which will be payable on
Nov. 8, 2007 (Final Settlement Date).  Holders delivering only
the Consents prior to the Consent Date without tendering the
related Notes will be eligible to receive the Consent Fee, which
will be payable on the Final Settlement Date.  Holders that
tender the Notes pursuant to the Tender Offer will be deemed to
have consented to the Proposed Amendments.  Notes tendered and
Consents granted prior to the Consent Date may be withdrawn at
any time on or prior to the Consent Date.

The consummation of the Tender Offer is conditioned upon the
satisfaction or waiver of the conditions set forth in the Offer
to Purchase.

The terms and conditions of the Tender Offer and Consent
Solicitation, as well as the Proposed Amendments, are described
in the Offer to Purchase and Consent Solicitation Statement,
dated Oct. 9, 2007, and related Letter of Transmittal.  Copies
of these documents are available to holders from Global
Bondholder Services Corporation, the depositary and information
agent for the tender offers.

Neither the Offer to Purchase and Consent Solicitation Statement
nor any related document has been filed with the U.S. Securities
and Exchange Commission, nor has any such document been filed
with or reviewed by any federal or state securities commission
or regulatory authority of any country.  No authority has passed
upon the accuracy or adequacy of the Offer to Purchase or any
related documents, and it is unlawful and may be a criminal
offense to make any representation to the contrary.

Cosan reserves the right, in its sole discretion, not to accept
any tenders for any reason.  Cosan is making the Tender Offer
only in those jurisdictions where it is legal to do so.

Cosan has retained Morgan Stanley & Co. Incorporated to act as
dealer manager for the Tender Offer.  Questions regarding the
Tender Offer may be directed to Morgan Stanley at 1-800-624-1808
(toll free) or +1-212-761-5384 (collect).

Requests for the Offer to Purchase and Consent Solicitation
should be directed to the Information Agent, Global Bondholder
Services Corporation, at 1-866-952-2200 (toll free) or +1 212-
430-3774.

Headquartered in Sao Paulo, Brazil, Cosan S.A. Industria e
Comercio, is the third largest sugar producer in the world.  In
2004/2005 it crushed more than 26 million tons of sugar cane in
fourteen mills located in the Central South region of Brazil,
with sugar sales of 2.3 million tons and ethanol sales of 825
million liters.

                        *     *     *

As of February 2007, Cosan carries Moody's Ba2 global local
currency and foreign currency ratings and Standard and Poor's BB
corporate credit rating.


EMI GROUP: Converts US$243 Million Guaranteed Bonds
---------------------------------------------------
EMI Group Finance (Jersey) Limited announced Oct. 8, 2007, that
all of the outstanding US$243,343,000, 5.25% guaranteed
convertible bonds due 2010 have been converted in accordance to
the terms and conditions of the bonds.

The bonds were guaranteed by EMI Group Ltd. (fka. EMI Group Plc)
and Capitol Records, Inc. and convertible into 5.25%
exchangeable redeemable preference shares of EMI Group Finance
(Jersey) Ltd., which are immediately exchangeable for ordinary
shares in EMI Group Ltd.

The bonds will be delisted from the London Stock Exchange and
there are no further bonds outstanding.

                         About EMI

Headquartered in London, United Kingdom, EMI Group PLC --
http://www.emigroup.com/-- is the world's largest independent
music company, operating directly in 50 countries and with
licensees in a further 20.  The group has operations in Brazil,
China, and Hungary.  The group employs over 6,600 people.
Revenues in 2005 were near EUR2 billion and operating profit
generated was over EUR225 million.

At March 31, 2006, EMI Group's consolidated balance sheet
revealed GBP1.817 billion in total assets, GBP2.544 billion in
total liabilities and GBP726.6 million in shareholders' deficit.

The company issued two profit warnings since January 2007.

                        *     *     *

As reported on Aug. 6, 2007, Moody's Investors Service
downgraded EMI Group plc's corporate family and senior debt
ratings to B1 (from Ba3).  All ratings remain under review for
downgrade.

Ratings downgraded to B1 (under review for further downgrade)
are:

EMI Group plc

   -- CFR and the ratings of the 8.25% GBP bonds due 2008 and
      the 8.625% Euro notes due 2013

Capitol Records Inc. (gtd. by EMI Group plc)

   -- the rating of the 8.375% guaranteed notes due 2009.

All ratings remain under review for possible downgrade.  Maltby
has not yet signaled whether any of the rated instruments are
expected to form part of EMI's capital structure to the extent
they remain outstanding under their terms.

Moody's ongoing review will now be focused on :

   (i) the new entity's capital structure and financial policies

  (ii) the relative position of the rated instruments within the
       new capital structure and their relative ranking amongst
       each other and relative to other classes of debt (to the
       extent they remain outstanding) and

(iii) the outlook for the global music markets and the
       company's operational plans.

In February 2007, Standard & Poor's Ratings Services lowered its
long-term corporate credit and senior unsecured debt ratings on
U.K.-based music group EMI Group PLC to 'BB-' from 'BB'.  The
'B' short-term rating was affirmed.

At the same time, the long-term corporate credit rating and debt
ratings were put on CreditWatch with negative implications.


FERRO CORP: Opens Solar Paste Production Facility in China
----------------------------------------------------------
Ferro Corporation will begin construction in fourth quarter 2007
on a 16,500-square-meter (177,604-square-foot) facility in
Suzhou, China, where it will produce aluminum pastes for the
Southeast Asia solar cell manufacturing market.

The new site is expected to begin production in the third
quarter of 2008 and will include expansion capacity to
accommodate expected growth of Ferro Electronic Material
Systems' business positions in China and Asia for products such
as silver pastes, surface technology products, multi-layer
materials, electronic glass, and precious metal powders.

"Ferro currently is the leading supplier of conductive pastes to
the worldwide solar industry," noted Barry Russell, Vice
President, Electronic Material Systems.  "This project positions
us to better serve the booming Southeast Asian market, where
solar cell production is forecast to grow at over 40% through
2011.  A local site will allow us to more cost-efficiently
produce and deliver our high-demand aluminum pastes to the
market.  It is yet another step in our key strategy to move
support closer to our customers."

Russell noted that this new production capability will be
complimented by Ferro's existing local applications laboratories
in Suzhou and in Tsukuba, Japan, which serve customers with
custom paste production, technical support and application
problem solving.

Ferro's new solar paste production site will adjoin other Ferro
facilities in the Suzhou Industrial Park, where the company
currently produces frits and colors used in tile and porcelain
enamel coatings and electrolytes used in the manufacture of
lithium batteries and other specialty chemical products.

Ferro Electronic Material Systems has been supplying high-value
conductive pastes to the solar industry for more than 25 years.

                    About Ferro Electronic

Ferro Electronic Material Systems produces metal pastes and
powders for solar energy applications, advanced packaging and
thick film conductors; chemical mechanical planarization
slurries for semiconductors and advanced integrated circuits;
dielectrics used in passive chip components and multilayer
ceramic capacitors; and surface finishing materials for LCD,
hard disk and ophthalmic lens polishing.  Ferro Electronic
Material Systems is based in Cleveland, and has production,
laboratory, sales, and technical support facilities around the
world, including Vista, CA; Penn Yan and Niagara Falls, NY;
South Plainfield, NJ; Haverhill, United Kingdom; Uden, The
Netherlands; Hanau, Germany; Tsukuba, Japan; and Suzhou, China.

                      About Ferro Corp.

Headquartered in Cleveland, Ohio, Ferro Corporation (NYSE: FOE)
-- http://www.ferro.com/-- is a global producer of an array of
specialty chemicals including coatings, enamels, pigments,
plastic compounds, and specialty chemicals for use in industries
ranging from construction, pharmaceuticals and
telecommunications.  Ferro operates through the following five
primary business segments: Performance Coatings, Electronic
Materials, Color and Performance Glass Materials, Polymer
Additives, and Specialty Plastics.  Revenues were US$2 billion
for the FYE ended Dec. 31, 2006.

Ferro Corp. has global locations in Argentina, Australia,
Belgium, Brazil, China, among others.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 16, 2007, Moody's Investors Service assigned a B1 corporate
family rating to Ferro Corporation.  Moody's also assigned a B1
rating to the company's US$200 million senior secured notes
(issued as unsecured notes in 2001) due in January 2009 and an
SGL-3 speculative grade liquidity rating.


GERDAU SA: Looks for Expansion Partners in Asia
-----------------------------------------------
Gerdau SA, Latin America's largest steelmaker, seeks an alliance
with Asian companies in order to increase its presence in the
region, Jeb Blount and Chris Burns at Bloomberg reports.

The steelmaker is already in partnership with SKJ Steel Plant
Ltd. in India -- a successful move that will be followed by
Gerdau in other countries, Bloomberg relates, citing Chief
Executive Officer Andre Gerdau Johannpeter.

According to the same report, Gerdau is North America's second-
largest producer of long-steel products.  The company's
expansion plans are aimed at lowering operational costs to
maintain prices.

Headquartered in Porto Alegre, Brazil, Gerdau SA --
http://www.gerdau.com.br/-- produces and distributes crude
steel and related long rolled products, drawn products, and long
specialty products.  In addition to Brazil, Gerdau operates in
Argentina, Canada, Chile, Colombia, Uruguay and the United
States.

As reported on Oct 1, 2007, Moody's Investors Service confirmed
the Ba1 corporate family ratings of Gerdau S.A. and Gerdau
Ameristeel Corporation.  The ratings agency also confirmed the
Ba1 corporate family rating of the Brazilian operations of
Gerdau, represented by Gerdau Acominas S.A., Gerdau Acos Longos
S.A., Gerdau Acos Especiais S.A., and Gerdau Comercial de Acos
S.A.  Meanwhile, the ratings for Chaparral Steel Company were
withdrawn as all its rated debt will be retired.  Moody's said
the outlook for all ratings is stable.


GERDAU AMERISTEEL: Announces Revision of Financial Information
--------------------------------------------------------------
Gerdau Ameristeel Corporation has announced the revision of the
footnote presentation of historical financial information
related to its subsidiary guarantors.  The revisions do not
affect the company's consolidated financial position or
consolidated results of operations for any of the affected
periods, nor do the revisions adversely impact its compliance
with debt covenants or ratios.  The revisions are in the
condensed consolidating financial information regarding the
Company, GUSAP Partners, the combined guarantors and the
combined non-guarantors of the company's senior notes presented
in the footnotes to the financial statements.  This data is
required under U.S. securities laws to be presented in the notes
to the company's financial statements for so long as the senior
notes are outstanding.  The previously reported financial
information did not reflect the investment in subsidiaries under
the equity method.  Additionally, a subsidiary which was a
guarantor subsidiary was incorrectly classified as a non-
guarantor subsidiary.  The company is concurrently filing
financial statements giving effect to the change as at and for
the years ended Dec. 31, 2006, and 2005 and as of Mar. 31, 2007,
and for the three months ended Mar. 31, 2007, and 2006.

The revisions for the three and six months ended June 30, 2007
were reflected in the company's financial statements for the six
months ended June 30, 2007, filed previously.  The financial
statements being filed revise the note as at and for the years
ended Dec. 31, 2006, and 2005 and as at Mar. 31, 2007, and for
the three months ended Mar. 31, 2007, and 2006.

The company has discussed the matters in this release with
Deloitte & Touche LLP, its independent registered public
accounting firm, and PriceWaterhouseCoopers LLP, its former
independent registered public accounting firm.

Headquartered in Tampa, Florida, Gerdau Ameristeel Corporation
(NYSE: GNA; TSX: GNA.TO) -- http://www.ameristeel.com/-- is a
mini-mill steel producer in North America.  Through its
vertically integrated network of 17 mini-mills, 17 scrap
recycling facilities and 52 downstream operations, Gerdau
Ameristeel serves customers throughout North America.  The
company's products are sold to steel service centers, steel
fabricators, or directly to original equipment manufactures for
use in a variety of industries, including construction, cellular
and electrical transmission, automotive, mining and equipment
manufacturing.  Gerdau Ameristeel is a unit of Brazilin firm
Gerdau SA.

                        *     *     *

As reported in the Troubled Company Reporter on Oct 1, 2007,
Moody's Investors Service confirmed these ratings on Gerdau
Ameristeel Corporation: (i) 'Ba1' probability of default rating;
(ii) 'Ba1' corporate family rating; and (iii) 'Ba1', LGD4 59%
US$405 million senior unsecured regular bond.   Moody's said the
outlook for all ratings is stable.


HERCULES INC: Earns US$34.5 Million in Second Qtr. Ended June 30
----------------------------------------------------------------
Hercules Incorporated reported net income for the quarter ended
June 30, 2007, of US$34.5 million as compared to a net loss of
US$52.3 million for the second quarter of 2006.

Net sales in the second quarter of 2007 were US$549.0 million,
an increase of 10% from the same period last year.  Net sales
for the six months ended June 30, 2007 were US$1.05 billion, an
increase of 10% from the prior year, excluding the impact of the
FiberVisions transaction.  For the second quarter, volume and
pricing increased by 7% and 1%, respectively.  Rates of exchange
increased sales by 3% during the quarter, while mix was 1%
unfavorable.

Net sales in the second quarter of 2007 increased in all major
regions of the world versus the prior year.  Sales increased 4%
in North America, 18% in Latin America, 15% in Europe, and 11%
in Asia Pacific.

Reported profit from operations in the second quarter of 2007
was US$74.5 million, an increase of 14% compared with US$65.6
million for the same period in 2006.

Cash flow from operations for the six months ended
June 30, 2007, was US$140.5 million as compared to US$64.0
million for the same period last year.  The company has now
received US$221.7 million, including US$23.2 million in July, of
a total US$240 million in expected federal and state tax
refunds.  The company also paid US$124 million in May 2007 in
connection with the Vertac litigation.

"The second quarter results demonstrate continued strong sales,
earnings and cash flow growth," said Craig A. Rogerson,
president and chief executive officer.  "Both business
franchises, Aqualon and Paper Technologies and Ventures,
continue to deliver solid performance."

Interest and debt expense was US$17.8 million in the second
quarter of 2007, an increase of US$1.1 million or 7% compared
with the second quarter of 2006, reflecting increased variable
short term rates, partially offset by lower outstanding debt
balances and improved debt mix.

Net debt was US$721.2 million at June 30, 2007, a decrease of
US$102 million from year-end 2006.  Cash and cash equivalents
were US$237.9 million at June 30, 2007, as compared to US$171.8
million at year-end 2006.

Capital spending was US$53.8 million for the first six months of
the year as compared to US$22.9 million in the same period last
year.  The increase in spending is directed toward growth and
expansion projects in our businesses globally.

                        Balance Sheet

At June 30, 2007, the company's consolidated balance sheet
showed US$2.77 billion in total assets, US$2.36 billion in total
liabilities, and US$403.5 million in total stockholders' equity.

Full-text copies of the company's consolidated financial
statements for the quarter ended June 30, 2007, are available
for free at http://researcharchives.com/t/s?241f

                      About Hercules Inc.

Headquartered in Wilmington, Delaware, Hercules Inc. (NYSE:HPC)
-- http://www.herc.com/-- manufactures and markets chemical
specialties globally for making a variety of products for home,
office and industrial markets.  The company has its regional
headquarters in China and Switzerland, and a production facility
in Brazil.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 2, 2007, Standard & Poor's Ratings Services revised its
outlook on Wilmington, Delaware-based Hercules Inc. to positive
from stable and affirmed the existing 'BB' corporate credit
rating.


NRG ENERGY: Earns US$149 Million in Second Quarter Ended June 30
----------------------------------------------------------------
NRG Energy Inc. reported net income for the three months ended
June 30, 2007, of US$149 million, as compared to net income of
US$203 million for the same period last year.  These results
include a US$35 million non-cash, pre-tax charge related to the
completion of the US$4.4 billion refinancing of the company's
Senior Credit Facility in conjunction with the company's
Comprehensive Capital Allocation Plan, while the 2006 period
benefited from US$15 million in pre-tax settlement agreements.

Quarterly operating income improved to US$436 million from
US$410 million in 2006.  Second quarter 2007 results included
US$36 million in net development costs for the RepoweringNRG
program.  Operating income for the three months ended
June 30, 2007, were favorably impacted by increased gas
generation and pricing in the Northeast region.

Net income from continuing operations for the first half of this
year was US$214 million, compared to US$217 million for the same
period last year.  Operating income for the first six months of
2007 improved to US$709 million from US$619 million in 2006.
First half results were favorably impacted by the inclusion of
an additional month for NRG Texas as this business was acquired
on Feb. 2, 2006, and higher generation and pricing in the
Northeast region.

Cash flow from operations for the first six months of 2007 was
US$459 million, after the posting of US$103 million of net
collateral outflows, versus adjusted cash flow from operations
of US$604 million, including the benefit of US$272 million of
net collateral inflows, during the same period last year.

"Through RepoweringNRG and FORNRG we have our business well
positioned for the future, while the strong execution of our
commercial and plant operations has put us in a position to
exceed the financial goals we had announced at the beginning of
the year," commented David Crane, NRG president and chief
executive officer.  "The quarter also marked the timely
completion of construction at Long Beach, our first repowering,
and demonstrates how quickly and capably we can act upon a type
of project which will become increasingly prevalent as reserve
margins tighten in all of our core markets."

                        Balance Sheet

At June 30, 2007, the company's consolidated balance sheet
showed US$18.94 billion in total assets, US$13.36 billion in
total liabilities, US$1 million in minority interest, US$247
million in 3.625% redeemable perpetual preferred stock, and
US$5.33 billion in total stockholders' equity.

Full-text copies of the company's consolidated financial
statements for the quarter ended June 30, 2007, are available
for free at http://researcharchives.com/t/s?2424

               Liquidity and Capital Resources

Liquidity at June 30, 2007, was approximately US$1.85 billion,
down US$373 million since Dec. 31, 2006, and US$123 million
since June 30, 2006.  The reduction in current liquidity is
mainly due to the US$200 million reduction in synthetic letter
of credit capacity as part of the recent restructuring of the
first lien credit facility.

                          Outlook

The company is raising 2007 adjusted EBITDA guidance to
US$2.20 billion from US$2.15 billion and cash flow from
operations to US$1.42 billion from US$1.40 billion to reflect
its strong first half performance, its fully hedged baseload
position for the balance of the year and the expected reduction
in second half operating expenses.

                      About NRG Energy

Hearquartered in Princeton, New Jersey, NRG Energy Inc. (NYSE:
NRG) -- http://www.nrgenergy.com/-- owns and operates a diverse
portfolio of power-generating facilities, primarily in Texas and
the Northeast, South Central and West regions of the U.S.  Its
operations include baseload, intermediate, peaking, and
cogeneration and thermal energy production facilities.  NRG also
has ownership interests in generating facilities in Australia,
Germany and Brazil.

                        *     *     *

Standard & Poor's Ratings Services rates NRG Energy Inc.'s
US$4.7 billion unsecured bonds at 'B'.  In addition, Standard &
Poor's rates NRG Energy Inc.'s corporate credit rating at 'B+'.
S&P said the outlook is stable.


PRIDE INTERNATIONAL: Morgan Keegan Keeps Market Perform Rating
--------------------------------------------------------------
Morgan Keegan analysts have kept their "market perform" rating
on Pride International Inc's shares, Newratings.com reports.

The analysts said in a research note that Pride International's
updated fleet status report indicates that only two of its US
Gulf jack ups are idle, as compared to five jack ups in the
previous update.

The analysts told Newratings.com that Pride International is
running its rigs at lower-than-anticipated day rates in an
attempt to improve its utilization rate.

Pride International's fleet status report indicates a marginal
increase in the shipyard/transit time across the fleet,
Newratings.com says, citing Morgan Keegan.

The earnings per share estimates for 2007 and 2008 were
decreased to US$2.76 from US$2.80, and to US$3.71 from US$3.77,
respectively, Newratings.com states.

Headquartered in Houston, Texas, Pride International Inc.
(NYSE: PDE) -- http://www.prideinternational.com/-- provides
onshore and offshore contract drilling and related services in
more than 25 countries, operating a diverse fleet of 277 rigs,
including two ultra-deepwater drillships, 12 semisubmersible
rigs, 28 jackups, 16 tender-assisted, barge and platform rigs,
and 214 land rigs.  The company maintains worldwide operations
in France, Mexico, Kazakhstan, India, and Brazil, among others.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Sept. 4, 2007, Fitch Ratings has affirmed Pride International
Inc.'s Issuer Default Rating at 'BB' in addition to affirming
the ratings on Pride International's senior secured revolving
credit facility, senior unsecured notes and their convertible
senior notes.  The Rating Outlook is Stable.  Fitch maintains
the following ratings for Pride International:

  -- Issuer Default Rating (IDR) at 'BB';
  -- Senior unsecured at 'BB';
  -- Senior secured bank facility at 'BBB-';
  -- Senior convertible notes at 'BB'.

As reported in the Troubled Company Reporter-Latin America on
Aug. 3, 2007, Moody's affirmed Pride International, Inc.'s
credit ratings following the company's announcement of the
acquisition of a newbuild drillship to be delivered in 2010.

The ratings affirmed include the Ba1 corporate family rating,
the Ba2 rating on Pride's US$500 million senior notes due 2014,
the Baa2 rating on its US$500 million senior secured credit
facility and speculative grade liquidity rating of SGL-2.
Moody's said the outlook is stable.

Pride Ratings Affirmed:

  -- Ba1 CFR and Probability of Default Rating;
  -- US$500 million Senior Notes due 2014 rated Ba2 (LGD5, 71%);
  -- US$500 million Senior Secured Credit Facility rated Baa2
     (LGD2, 13%);
  -- Speculative Grade Liquidity Rating -- SGL-2;
  -- Senior Unsecured Shelf rated (P)Ba2 (LGD5, 71%);
  -- Subordinated Shelf rated (P)Ba2 (LGD6, 97%);
  -- Preferred Shelf rated Ba2 (LGD6, 97%)




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


ELYSEE LTD: Sets Final Shareholders Meeting for Nov. 1
------------------------------------------------------
Elysee Limited will hold its final shareholders meeting on
Nov. 1, 2007 at:

         Citco Fund Services (Cayman Islands) Limited
         Regatta Office Park, West Bay Road
         Grand Cayman, Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the winding-up process and how the property
      has been disposed of to the date of the final winding-up
      on Nov. 1, 2007; and

   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:

         Buchanan Limited
         P.O. Box 1170, Grand Cayman KY1-1102
         Cayman Islands


ENSEC HOME: Holding Final Shareholders Meeting on Nov. 1
--------------------------------------------------------
Ensec Home Finance Pool I, Ltd., will hold its final
shareholders meeting on Nov. 1, 2007 at:

         Maples Finance Limited
         Boundary Hall, Cricket Square
         George Town, Grand Cayman
         Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the winding-up process and how the property
      has been disposed of to the date of the final winding-up
      on Nov. 1, 2007; and

   2) authorizing the liquidator of the company to retain the
      records of the company for a period of five years from the
      dissolution of the company, after which they may be
      destroyed.

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:

         Jan Neveril
         Maples Finance Limited
         P.O. Box 1093, George Town
         Grand Cayman, Cayman Islands


LAKEPORT INVESTMENTS: Final Shareholders Meeting Is on Nov. 1
-------------------------------------------------------------
Lakeport Investments Limited will hold its final shareholders
meeting on Nov. 1, 2007 at:

         Citco Fund Services (Cayman Islands) Limited
         Regatta Office Park, West Bay Road
         Grand Cayman, Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the winding-up process and how the property
      has been disposed of to the date of the final winding-up
      on Nov. 1, 2007; and

   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:

         Buchanan Limited
         P.O. Box 1170, Grand Cayman KY1-1102
         Cayman Islands


MERCOSUR OPPORTUNITY: Sets Final Meeting for Nov. 1
---------------------------------------------------
Mercosur Opportunity Fund will hold its final shareholders
meeting on Nov. 1, 2007 at 10:00 a.m., at:

         Citco Fund Services (Cayman Islands) Limited
         Regatta Office Park, West Bay Road
         Grand Cayman, Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the winding-up process and how the property
      has been disposed of to the date of the final winding-up;
      and

   2) authorizing the liquidator of the company to retain the
      records of the company for a period of five years from the
      dissolution of the company, after which they may be
      destroyed.

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:

         Paulo Belluschi
         Attention: Nick Robinson
         P.O. Box 265, George Town
         Grand Cayman, Cayman Islands
         Telephone: (345) 914 4216
         Fax: (345) 814 8216


MOTHERROCK ENERGY: Final Shareholders Meeting Is on Nov. 1
----------------------------------------------------------
Motherrock Energy Intermediate Fund Limited will hold its final
shareholders meeting on Nov. 1, 2007, at 12:00 p.m. at:

         Deloitte
         Fourth Floor, Citrus Grove
         P.O. Box 1787, George Town
         Grand Cayman, Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the winding-up process and how the property
      has been disposed of to the date of the final winding-up
      on Nov. 1, 2007; and

   2) authorizing the liquidator of the company to retain the
      records of the company for a period of five years from the
      dissolution of the company, after which they may be
      destroyed.

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:

         Stuart Sybersma
         Attention: Mervin Solas
         Deloitte
         P.O. Box 1787, George Town
         Grand Cayman, Cayman Islands
         Telephone: (345) 949-7500
         Fax: (345) 949-8258


PINE INVESTMENTS: Will Hold Final Shareholders Meeting on Nov. 1
----------------------------------------------------------------
Pine Investments Limited will hold its final shareholders
meeting on Nov. 1, 2007 at:

         Citco Fund Services (Cayman Islands) Limited
         Regatta Office Park, West Bay Road
         Grand Cayman, Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the winding-up process and how the property
      has been disposed of to the date of the final winding-up
      on Nov. 1, 2007; and

   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:

         Buchanan Limited
         P.O. Box 1170, Grand Cayman KY1-1102
         Cayman Islands


SAILFISH GLOBAL: Sets Final Shareholders Meeting for Nov. 1
-----------------------------------------------------------
Sailfish Global Equity Fund (G3), Ltd., will hold its final
shareholders meeting on Nov. 1, 2007 at:

         Maples Finance Limited
         Boundary Hall, Cricket Square
         George Town, Grand Cayman
         Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the winding-up process and how the property
      has been disposed of to the date of the final winding-up;
      and

   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:

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


SAILFISH GLOBAL (MASTER): Last Shareholders Meeting Is on Nov. 1
----------------------------------------------------------------
Sailfish Global Equity Master Fund (G3), Ltd., will hold its
final shareholders meeting on Nov. 1, 2007 at:

         Maples Finance Limited
         Boundary Hall, Cricket Square
         George Town, Grand Cayman
         Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the winding-up process and how the property
      has been disposed of to the date of the final winding-up
      on Nov. 1, 2007; and

   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:

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


SUPER H: Will Hold Final Shareholders Meeting on Nov. 1
-------------------------------------------------------
Super H. Limited will hold its final shareholders meeting on
Nov. 1, 2007 at:

         Citco Fund Services (Cayman Islands) Limited
         Regatta Office Park, West Bay Road
         Grand Cayman, Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the winding-up process and how the property
      has been disposed of to the date of the final winding-up
      on Nov. 1, 2007; and

   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:

         Buchanan Limited
         P.O. Box 1170, Grand Cayman KY1-1102
         Cayman Islands


TATI LTD: Holding Final Shareholders Meeting on Nov. 1
------------------------------------------------------
Tati Ltd. will hold its final shareholders meeting on
Nov. 1, 2007 at:

         Citco Fund Services (Cayman Islands) Limited
         Regatta Office Park, West Bay Road
         Grand Cayman, Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the winding-up process and how the property
      has been disposed of to the date of the final winding-up
      on Nov. 1, 2007; and

   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:

         Buchanan Limited
         P.O. Box 1170, Grand Cayman KY1-1102
         Cayman Islands




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


ALCATEL-LUCENT: Eyes Up To 8 LatAm Internet Protocol TV Projects
----------------------------------------------------------------
Alcatel-Lucent's3G/WiMax sales manager for Latin America and the
Caribbean, Carlos Fernando Weinschenk, told Business News
Americas that the firm would work on up to eight Internet
protocol television projects across Latin America next year.

Mr. Weinschenk commented to BNamericas that implementation of
the service is fastest in Mexico, Brazil, and Colombia.

Argentina and Chile would be demanding commercial Internet
protocol television networks in 2008, BNamericas says, citing
Mr. Weinschenk.

BNamericas notes that Mr. Weinschenk said on the sidelines of
Expocomm in Buenos Aires, "We expect to deploy one or two
networks in each of these countries."

Mr. Weinschenk told BNamericas that in some nations like
Argentina, regulations prevent the launching of the service.

Alcatel-Lucent will also concentrate on WiMax projects next year
since there are many telecoms operators that are keen on
investing in this technology, BNamericas states, citing Mr.
Weinschenk.

Headquartered in Paris, France, Alcatel-Lucent S.A. --
http://www.alcatel-lucent.com/-- provides solutions that enable
service providers, enterprises and governments worldwide to
deliver voice, data and video communication services to end
users.

Alcatel-Lucent maintains operations in 130 countries, including,
Austria, Germany, Hungary, Italy, Netherlands, Ireland, Canada,
United States, Costa Rica, Dominican Republic, El Salvador,
Guatemala, Peru, Venezuela, Indonesia, Australia, Brunei and
Cambodia.

                        *     *     *

As reported on April 13, 2007, Fitch Ratings affirmed Alcatel-
Lucent's ratings at Issuer Default 'BB' with a Stable Outlook,
senior unsecured 'BB' and Short-term 'F2' and simultaneously
withdrawn them.

As of Feb. 7, 2007, Moody's Investor Services put a Ba2 rating
on Alcatel's Corporate Family and Senior Debt rating.  Lucent
carries Moody's B1 Senior Debt rating and B2 Subordinated debt &
trust preferred rating.

Alcatel-Lucent's Long-Term Corporate Credit rating and Senior
Unsecured Debt carry Standard & Poor's Ratings Services' BB
rating.  Its Short-Term Corporate Credit rating stands at B.


BRIGHTPOINT INC: Subsidiary Signs Distribution Pact with e2GO
-------------------------------------------------------------
Brightpoint Inc.'s subsidiary, Brightpoint Middle East FZE has
entered into a distribution agreement with e2GO Limited.
Pursuant to this agreement, Brightpoint will provide e2GO with
distribution services for e2GO products to be distributed in the
Middle East, Africa and CIS.

                       About e2GO Limited

e2GO Limited -- http://www.e2golimited.com/-- is an
independently owned technology company specializing in portable
battery power.  Its flagship product, the eGO Emergency Mobile
Phone Battery, has received a very positive response from a
number of different markets.  Launched in 2006, e2GO Limited has
head offices in both Australia and New Zealand with numerous
trademarks for future products across a wide variety of markets.
These markets include portable battery power for Mobile Phones,
Laptops, Digital Music Players, Gaming Consoles, Cameras and
other emerging electronic markets.

                       About Brightpoint

Headquartered in Plainfield, Indiana, Brightpoint, Inc. --
http://www.brightpoint.com/-- distributes wireless devices and
accessories, as well as provision of customized logistic
services to the wireless industry.  The company primarily
operates in Australia, Colombia, Finland, Germany, India, New
Zealand, Norway, the Philippines, the Slovak Republic, Sweden,
United Arab Emirates and the United States.  The company's
customers include mobile operators, mobile virtual network
operators, resellers, retailers and wireless equipment
manufacturers.  Brightpoint was incorporated in 1989 under the
name Wholesale Cellular USA, Inc. and changed its name to
Brightpoint Inc. in 1995.

                        *     *     *

On April 12, 2006, Standard & Poor's placed Brightpoint's long-
term local and foreign issuer credit ratings at BB- with a
stable outlook.


* COLOMBIA: To Open Gas Pipeline with Venezuela, Minister Says
--------------------------------------------------------------
Colombian President Alvaro Uribe and his Venezuelan counterpart,
Hugo Chavez, will launch a gas pipeline linking the two
countries, Inside Costa Rica reports, citing Foreign Minister
Fernando Araujo.

According to Mr. Araujo, a meeting for the presidents to open
the bi-national gas pipeline has been planned.  Details about
the meeting place were not disclosed.

Inside Costa Rica relates that 177-km pipeline cost US$335
million and connects the Colombian region of Punta Ballenas in
the northern province of Guajira and the Venezuelan city of
Maracaibo.

The foreign minister told Inside Costa Rica that they have
invited Ecuador's Rafael Correa since the pipeline is reaching
Ecuador and possibly Peru and Bolivia.

Report shows that Colombia will deliver 200 million cubic feet
of gas to Venezuela during the pipeline's first phase.  Later,
Venezuela will use the same pipeline to supply gas to Colombia
and Panama.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 15, 2007, Standard & Poor's Ratings Services assigned its
'BB+' long-term senior unsecured rating to the Republic of
Colombia's proposed 2027 Global Titulos de Tesoreria bond, a
bond denominated in Colombian pesos but payable in US dollars.




===================
C O S T A   R I C A
===================


U.S. AIRWAYS: Flight Attendants to Hold Rally on October 16
-----------------------------------------------------------
Flight attendants of US Airways Group Inc., America West
Airlines Inc. and Mesa Air Group Inc., both in the middle of
negotiations, will rally at the Phoenix Sky Harbor International
Airport on Oct. 16, 2007, 12:00 p.m. to 2:00 p.m. to demand
contract improvements.  With the support of hundreds of fellow
flight attendants from 20 carriers, all represented by the
Association of Flight Attendants-CWA, US Airways, America West
and Mesa Air flight attendants will send a strong, resounding
message to the airlines' management that it is time to move
negotiations forward and agree to fair contracts.

After years of concessionary agreements and stalling by
management, flight attendants across the industry have had
enough and are ready to fight back.  Now they are coming
together in a show of unity and strength.

Due to Mesa's poverty level wages, flight attendant turnover at
the airline is skyrocketing, only adding to the airline's
operational problems.  However, while management should be
focused on retaining employees and providing them with a living
wage, Mesa management is taking company profits and sending them
to China where they are in the process of building a new foreign
airline.  For over a year, while the company has been making
money, management continues to try and force the flight
attendants into accepting a concessionary agreement similar to
those seen during the bankruptcy process.

At the newly merged US Airways, flight attendants are demanding
contract improvements.  Flight attendants from America West (US
Airways West) have not seen a pay increase in over four years.
US Airways flight attendants continue to work under a
concessionary agreement put in place during the last bankruptcy,
which eroded pay scales, terminated pensions and slashed
benefits.  Passengers have been exposed to poor operations,
short staffing, delays, and merger related system failures.  Yet
while employee and passenger relations continue to decline, US
Airways management has reaped millions in bonuses.

In addition to Mesa and US Airways flight attendants, there will
be over 200 flight attendants from carriers across the country,
as well as local political and labor officials.

                        About US Airways

Based in Tempe, Arizona, US Airways Group Inc.'s (NYSE: LCC) -
http://www.usairways.com/-- primary business activity is the
ownership of the common stock of US Airways, Inc., Allegheny
Airlines, Inc., Piedmont Airlines, Inc., PSA Airlines, Inc.,
MidAtlantic Airways, Inc., US Airways Leasing and Sales, Inc.,
Material Services Company, Inc., and Airways Assurance Limited,
LLC.

US Airways has operations in Japan, Australia, China, Costa
Rica, Philippines, and Spain, among others.

Under a Chapter 11 plan declared effective on March 31, 2003,
USAir emerged from bankruptcy with the Retirement Systems of
Alabama taking a 40% equity stake in the deleveraged carrier in
exchange for US$240 million infusion of new capital.

US Airways and its subsidiaries filed another chapter 11
petition on Sept. 12, 2004 (Bankr. E.D. Va. Case No. 04-13820).
Brian P. Leitch, Esq., Daniel M. Lewis, Esq., and Michael J.
Canning, Esq., at Arnold & Porter LLP, and Lawrence E. Rifken,
Esq., and Douglas M. Foley, Esq., at McGuireWoods LLP, represent
the Debtors in their restructuring efforts.  In the Company's
second bankruptcy filing, it lists US$8,805,972,000 in total
assets and US$8,702,437,000 in total debts.

The Debtors' Chapter 11 plan for its second bankruptcy filing
became effective on Sept. 27, 2005.  The Debtors completed their
merger with America West on the same date.

                        *     *     *

US Airways Group Inc.'s $1.6 billion secured credit facility due
2014, currently being syndicated, carries Standard & Poor's
Ratings Services 'B' rating.  That rating was assigned in March
2007.


* COSTA RICA: CAFTA Referendum Shows Favorable Results
------------------------------------------------------
In a referendum held Sunday, majority of the votes showed that
Costa Ricans are largely in favor of a free trade agreement with
the United States.

According to published reports, about 51.6% of the votes were in
favor of the Central America Free Trade Agreement, a pact that
will guarantee zero tariffs for almost all of Costa Rica's
products exported to the U.S.

The Financial Times says that Costa Rica is the only one left of
the seven signatories of the CAFTA to ratify the agreement.  The
country's National Assembly has yet to approve 13 pieces of
legislation before March 1 to bring national law in line with
the treaty.  The FT says that 38 out of the 57 necessary votes
were already secured for the ratification of the pact.

Meanwhile, Latin Business Chronicle suggests that the CAFTA will
draw major investments from big companies.  It will also pave
the way for talks with the European Union, which favors trade
negotiations with trade blocs rather than individual countries.

"We view DR-CAFTA ratification as very good news for the credit
and expect the positive referendum outcome to elicit a favorable
near-term market response," Bear Stearns analyst Franco Uccelli
was quoted by Latin Business as saying.

Despite vehement protests from anti-CAFTA groups in both
countries, Costa Ricans have taken heed of President Oscar
Arias' warning that rejecting the treaty would isolate the
nation and "transform it from the Switzerland of Central America
to the Central American Albania," John Lyons writes for the Wall
Street Journal.

As reported on Oct. 10, 2007, Standard & Poor's Ratings Services
affirmed its 'BB' foreign and 'BB+' local currency long-term
credit ratings on the Republic of Costa Rica.  At the same time,
S&P has affirmed its 'B' short-term local and foreign currency
ratings on the Republic.  S&P said the outlook on the long-term
ratings is stable.

The affirmation resulted from the approval of the treaty, which
"sends a positive signal to the market," S&P credit analyst
Joydeep Mukherji said.




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


AES CORPORATION: To Offer US$500 Million Unsecured Senior Notes
---------------------------------------------------------------
The AES Corporation has intended to offer approximately US$500
million aggregate principal amount of senior unsecured notes due
2017 in a private placement.

The senior notes will not be registered under the Securities Act
of 1933, or any state securities laws.  Therefore, the senior
notes may not be offered or sold in the United States absent
registration or an applicable exemption from the registration
requirements of the Securities Act of 1933 and any applicable
securities laws.  This announcement is neither an offer to sell
nor a solicitation of an offer to buy the senior notes.

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.

                        *     *     *

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'.




=============
E C U A D O R
=============


PETROECUADOR: Oil Output Is at 255,082 Barrels Per Day in August
----------------------------------------------------------------
Ecuadorian state-run oil firm Petroecuador's average oil
production was 255,082 barrels per day in the first eight months
of 2007, excluding production with foreign oil firms, Dow Jones
Newswires reports.

Ecuador's average oil output decreased by 7% to 507,000 barrels
per day in the first eight months of 2007, from 544,000 barrels
per day in the same period last year, Dow Jones relates, citing
the Ecuadorian Central Bank.

Dow Jones notes that private firms' oil output was 251,918
barrels per day in the eight-month period.

According to Dow Jones, the Petroecuador data include oil
production of 90,000 barrels per day from:

          -- block 15,
          -- Enden-Yuturi, and
          -- Limoncocha oil fields.

Petroecuador, according to published reports, is faced with
cash-problems.  The state-oil firm has no funds for maintenance,
has no funds to repair pumps in diesel, gasoline and natural gas
refineries, and has no capacity to pay suppliers and vendors.
The government refused to give the much-needed cash alleging
inefficiency and non-transparency in Petroecuador's dealings.


* ECUADOR: Will Audit 1980s & 1990s Oil Contracts
-------------------------------------------------
Ecuadorian mines and oil minister Galo Chiriboga told Business
News Americas that the government will launch an audit for
current oil contracts signed in the 1980s and 1990s.

Minister Chiriboga said in a statement that the ministry's
hydrocarbons department will conduct the audits.

BNamericas relates that Ecuadorian President Rafael Correa
signed last week a decree that increases the state's take of
extraordinary oil firm profits to 99% from 50%.

According to BNamericas, the ministry was scheduled to meet with
several oil firms earlier this week to discuss the migration to
service provider contracts from participation contracts.
However, the companies didn't show up for the meeting.

BNamericas notes that the government wants to convert
participation contracts into service provider contracts, where
the firms would be paid a production fee and be reimbursed for
investment costs.

The firms are currently analyzing what course of action they
will take, BNamericas states.

                        *     *     *

As reported in the Troubled Company Reporter on Jan. 25, 2007,
Fitch Ratings downgraded the long-term foreign currency Issuer
Default Rating of Ecuador to 'CCC' from 'B-', indicating that
default is a real possibility in the near term.

In addition, these ratings were downgraded:

  -- Uncollateralized foreign currency bonds to
     'CCC/RR4' from 'B-/RR4';

  -- Collateralized foreign currency Par and Discount
     Brady bonds to 'CCC+/RR3' from 'B/RR3'; and

  -- Short-term foreign currency IDR to 'C' from 'B'.

Fitch also affirmed the Country ceiling rating at 'B-'.




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


AES CORP: Fitch Rates US$500 Million Senior Notes at BB/RR1
-----------------------------------------------------------
Fitch Ratings has assigned a 'BB/RR1' rating to AES Corp.'s
US$500 million issue of senior unsecured notes due 2017.  AES
Corp' long-term Issuer Default Rating is rated 'B+' by Fitch.
The Rating Outlook is Stable.  Fitch views this transaction as
the pre-funding of growth capital spending and debt refinancing.
For high-yield issuers, Fitch believes that pre-funding can be
prudent during times of uncertain capital market access.
Fitch's rating is based on its expectation that AES will use the
proceeds during the next two quarters to pay down debt and/or to
invest in several different generation projects.  The company
has US$415 million of debt maturing in 2008, and will complete
several new projects that should create sufficient cash flows to
offset the additional debt and interest expense and allow the
company to maintain relatively stable credit metrics.

The ratings of AES Corp reflect the high degree of parent-
company recourse debt, the structural subordination of that debt
to project level debt, and the reliance on distributions from
its subsidiaries for parent-company debt service.  Offsetting,
in part, the company's financial risk is the solid base of
utility and contracted generation as well as the diversity of
cash flow sources.  The current Stable Rating Outlook reflects
Fitch's expectation that credit metrics will stay within
parameters for the current rating.

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 CORP: Moody's Puts B1 Rating on US$500 Mil. Proposed Notes
--------------------------------------------------------------
Moody's Investors Service has assigned a B1 senior unsecured
rating to The AES Corporation's proposed issuance of US$500
million senior unsecured notes due 2017.  In addition, Moody's
has affirmed the ratings of AES Corp, including the company's
Corporate Family Rating at B1, its Probability of Default Rating
at B1, its senior secured credit facilities at Ba1, its second
priority senior secured notes at Ba3, its senior unsecured notes
at B1 and its trust preferred securities at B3.  The rating
outlook for AES is stable.

The rating affirmation reflects an expectation that AES will use
proceeds from the proposed offering to fund new investment
opportunities that are expected to provide appropriate returns.
Furthermore, the rating affirmation acknowledges the company's
success in restructuring existing businesses and investing in
new electric generation projects that, in the near-term, are
expected to generate incremental cash flows.  These efforts,
which include the restructuring of AES's businesses in Brazil,
the elimination of a cash trap at its Brazilian holding company
plus the construction and commercial operation of approximately
350 megawatts of United States-based wind generation, have been
funded without incremental recourse debt.

As a result of the above, and in combination with increased
distribution from several existing subsidiaries, the aggregate
amount of subsidiary distributions to AES in 2008 is expected to
exceed the approximate US$1 billion received in each of 2005 and
2006.  Moody's notes that the historical results include
distributions from C.A. La Electricidad De Caracas, which AES
recently sold to Petroleos de Venezuela S.A.  Furthermore, the
expected commercial operation of various generating stations
currently under construction beginning 2009/2010 should further
improve the level of subsidiary distributions.

That being said, the proposed senior unsecured offering will
constrain upward movement in AES's current rating levels over
the near-to-intermediate term.  The ratings could be pressured
should the expected increase in subsidiary distributions not
materialize.

Rating assigned:

The AES Corporation

-- US$500 million of new senior unsecured notes, B1 (LGD4,
    57%)

Ratings affirmed/LGD assessments revised:

The AES Corporation

-- Corporate Family Rating -- B1

-- Probability of Default Rating -- B1

-- Senior secured credit facilities -- Ba1 (LGD1, 3%) from
    (LGD, 2%)

-- Second priority senior secured notes -- Ba3 (LGD3, 41%)
    from (LGD3, 40%)

-- Senior unsecured notes -- B1 (LGD4, 57%) from (LGD4, 55%)

AES Trust III and AES Trust VII

-- Convertible trust preferred securities -- B3 (LGD6, 94%)
    from (LGD6, 93%)

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 CORP: S&P Affirms Corporate Credit Rating at BB-
----------------------------------------------------
Standard & Poor's Ratings Services has affirmed its 'BB-'
corporate credit rating on the diversified energy company, AES
Corp., following its annual review of the company.  The outlook
is stable.  S&P also assigned its 'B' rating to the company's
US$500 million senior unsecured notes due 2017.

At the same time, S&P raised the rating on AES' US$1.8 billion
second-lien senior secured debt to 'BB+' from 'BB-', two notches
above the corporate credit rating.  S&P also assigned a recovery
rating of '1' to the second-lien senior secured debt, indicating
the expectation of very high (90%-100%) recovery in a payment
default scenario.  The first-lien senior secured debt is
unrated. All other debt ratings were affirmed.

As of June 30, 2007, AES had about US$4.7 billion of recourse
debt and trust-preferred securities, reflecting its reliance on
substantive distributions from jurisdictions with considerable
regulatory and operating uncertainties and its exposure to
merchant power markets, most notably through its AES Eastern
Energy L.P. (BB+/Stable/--) subsidiary.

The ratings on AES reflect the need for large expenditures for
growth, which are partly serviced by residual distributions from
project investments and dividends from operating subsidiaries,
and the continuing need for financing that should be funded in a
credit-neutral manner.  We believe that the significant
investment requirements, which will likely entail leverage, will
slow the favorable credit momentum of the past two years.
Partly mitigating these weaknesses are benefits of regional and
operational diversification, which help to reduce the company's
exposure to any one regulatory regime or commodity.

The stable outlook on AES reflects S&P's expectation of
consistent performance over the next 18 months to 24 months.

"We believe that as a result of large investment needs, the
positive credit momentum has eased and further debt reduction is
unlikely," noted S&P's credit analyst Aneesh Prabhu.  "We could
revise the outlook to negative if cash flow distributions
deteriorate as a result of substantial investments that do not
generate expected distributions, or if project-level financing
results in lower distributions," he continued.  Substantial loss
of distributions from major contributors could also affect
credit quality.

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.




=================
G U A T E M A L A
=================


IMAX CORP: Will Restate Financial Records on Real Estate Leases
---------------------------------------------------------------
IMAX Corporation plans to file a Form 10-K/A for fiscal
2006 to amend its Annual Report on Form 10-K for 2006, which was
filed on July 20, 2007.  The Form 10- K/A will restate financial
statements relating to the company's accounting for certain
terms of 7 real estate leases for its owned and operated
theatres and corporate facilities, with most of the income
statement impact being from 1997 to 2002.

The company plans to file a Form 10-Q/A to amend its Form 10-Q
filings for the first and second quarters of 2007 for the same
reason.

Previously, the company had recorded rent reductions received in
connection with certain real property leases in the years such
reductions were received, rather than on a straight-line basis
over the remaining lease term.  These reductions included rent
holidays and abatements.  In addition, the company did not
properly record certain leasehold improvements funded by
landlord construction allowances.

The aggregate amount of the charge at issue is approximately
US$5.5 to US$6.5 million, with approximately US$5 million
relating to the 1997 to 2002 period.  The US$5.5 to US$6.5
million deferred rent credit will be amortized into income over
the remaining terms of the applicable real estate leases.  The
company emphasized that this restatement is not expected to
impact its cash or liquidity or relate to revenue recognition in
connection with theatre system or film revenue.

Because of the error, management and the Audit Committee have
cautioned that the company's prior-filed financial statements on
Forms 10-K and 10-Q should not be relied upon until the
financial statements are restated, which the company expects to
occur within 35 days.

In addition, the company's Forms 10-K/A and 10-Q/A will include
certain additional and enhanced narrative disclosure in response
to comments received by the company from the U.S. Securities and
Exchange Commission.

                   About IMAX Corporation

Based in New York City and Toronto, Canada, IMAX Corporation
(NASDAQ:IMAX) -- http://www.imax.com/-- is an entertainment
technology company, with emphasis on film and digital imaging
technologies including 3D, post-production and digital
projection.  IMAX is a fully-integrated, out-of-home
entertainment enterprise with activities ranging from the
design, leasing, marketing, maintenance, and operation of
IMAX(R) theatre systems to film development, production, post-
production and distribution of large-format films.  IMAX also
designs and manufactures cameras, projectors and consistently
commits significant funding to ongoing research and development.
IMAX has locations in Guatemala, India, Italy, among others.

At June 30, 2007, the company's balance sheet showed total
assets of US$220.2 million and total liabilities of US$284
million, resulting to a total shareholders' deficit of US$63.8
million.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 27, 2007, Standard & Poor's Ratings Services affirmed its
ratings, including the 'CCC+' corporate credit rating, on IMAX
Corp. and removed them from CreditWatch.

The ratings were originally placed on CreditWatch with negative
implications on Apr. 2, 2007, with a revision to developing
implications occurring on July 5, 2007.  The rating action
follows the company's filing of its SEC Form 10-Q for the first
quarter of 2007 and its 2006 Form 10-K, which should put the
company in compliance with its filing requirement under its bond
indenture and alleviate the risk of a near-term acceleration.




===========
G U Y A N A
===========


DIGICEL GROUP: Phone Tower May Cause Private Property Collapse
--------------------------------------------------------------
Shabna Ullah at Stabroek News reports that Canefield, East
Canje, resident Pradeep Kuma feared that his concrete house
would collapse due to the construction of a Digicel telephone
tower.

Stabroek News relates that Mr. Kuma's house has cracked while
sections of his yard have started "sinking."  He said that the
vibrations during construction caused the tiles in his bathroom
to loosen and his windows to break.  According to him, the left
side of his house is 16 feet away from Digicel's fence.  Digicel
dug a base of up to 20 feet below and drove about six piles,
causing the house to crack.

"A tower of that magnitude should have been assembled in a big,
open space," Stabroek News says, citing Mr. Kuma.  He wondered
who had authorized the tower's construction in a residential
area.

Mr. Kuma told Stabroek News that he brought officials from the
Canefield/Adelphi Neighbourhood Democratic Council to have a
look while the piles were being driven.  According to him, he
was told that Digicel would repair the place.  He then wrote a
letter to the council but got no answer.  He had also raised the
problems to Digicel's engineers when they visited during the
construction.

Stabroek News relates that the engineers examined the affected
sections on two occasions, promising to return to the area to
paste the cracks and to offer compensation.  Mr. Kuma was also
given a telephone number for a construction engineer he should
call to arrange a time to visit him in Georgetown.  However, he
has not heard from the engineers again.

A Digicel official explained to Stabroek News that the engineers
that Mr. Kuma would have spoken to during the construction phase
are now outside Guyana.

"The management team was unaware of the problem and now that we
are aware of it we have taken immediate steps to have it
corrected," the official commented to Stabroek News.

Digicel Group Limited -- http://www.digicelgroup.com/-- is a
wireless services provider in the Caribbean region.  The company
is a newly created Bermuda incorporated company formed by Mr.
Denis O'Brien, who previously owned 78% of the shares of Digicel
Limited on a fully diluted basis.  The company started
operations in Jamaica in April 2001 and now offers GSM mobile
services in 22 markets primarily in the Caribbean including
Jamaica, St. Lucia, St. Vincent, Aruba, Grenada, Barbados,
Cayman, Curacao, Martinique, Guadeloupe, Trinidad and Tobago and
Haiti among others.

As reported in the Troubled Company Reporter-Latin America on
Feb. 20, 2007, Fitch Ratings took these rating actions for
Digicel Group Ltd., Digicel Ltd. and Digicel International
Finance Ltd.:

Digicel Group Ltd.

   -- US$1.4 billion senior subordinated notes due 2015
      assigned 'CCC+/RR5'

Digicel Ltd.

   -- Foreign currency Issuer Default Rating downgraded
      to 'B-' from 'B'; and

   -- US$450 million senior notes due 2012 downgraded
      to 'B-/RR4' from'B/RR4'.

Digicel International Finance Ltd.

   --US$850 million senior secured credit facility
     assigned 'B/RR3'.

Fitch said the outlook on all ratings is stable.




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


ACCELLENT INC: Selects Robert Kirby as President & CEO
------------------------------------------------------
Accellent Inc. has named Robert E. Kirby as its President and
Chief Executive Officer effective Oct. 29, 2007.  Kenneth W.
Freeman will continue as Executive Chairman.

"Bob brings a breadth of experience and a track record of
accomplishment to Accellent," said Mr. Freeman.  "He has a
reputation for dramatically improving performance and leading
highly effective teams."

Mr. Kirby, 51, has thirty years of operating experience, most
recently at Handleman Company, where he was President and Chief
Operating Officer.  Prior to Handleman, Mr. Kirby served in a
number of leadership roles with Johnson & Johnson including
President, Personal Products Company; Vice President, Global
Supply Chain and Vice President, North American Operations -
Consumer and Personal Care Group; and Vice President, Research
and Development - Consumer Products Group.

Mr. Kirby began his career at Procter & Gamble as a scientist
and has also held leadership positions in research and
development, engineering and manufacturing at Kimberly-Clark
Corporation and James River/Fort James Corporation.

Mr. Kirby received a bachelor's degree in chemical engineering
from the University of New Hampshire in 1978.  He will relocate
to the Wilmington, Massachusetts area.

Accellent Inc., headquartered in Wilmington, Massachusetts,
-- http://www.accellent.com/--provides fully integrated
outsourced manufacturing and engineering services to the medical
device industry in the cardiology, endoscopy and orthopaedic
markets.  Accellent has broad capabilities in design &
engineering services, precision component fabrication, finished
device assembly and complete supply chain management.  These
capabilities enhance customers' speed to market and return on
investment by allowing companies to refocus internal resources
more efficiently.  The company generated revenues of US$487
million for the twelve months ended Sept. 30, 2006.  The company
has offices in Mexico.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 3, 2007, Standard & Poor's Ratings Services lowered its
corporate credit rating on Accellent Inc. to 'B' from 'B+'; the
outlook is stable.  This action reflects expectations of subpar
performance in the company's cardiovascular and orthopedics
divisions for the remainder of the year, reflecting weak end
markets and delayed product introductions in cardiovascular and
orthopedics, respectively.


DURA AUTOMOTIVE: Noteholders Appeal Amendment to Backstop Deal
--------------------------------------------------------------
Certain beneficial holders of senior subordinated notes due
May 2009, issued by Dura Operating Corp., took an appeal to the
U.S. District Court for Delaware from Bankruptcy Judge Kevin J.
Carey's order approving an amendment to the Amended Backstop
Rights Purchase Agreement, dated as of Aug. 13, 2007, between
DURA Automotive Systems, Inc., and Pacificor LLC.

The amendment provides that Pacificor's commitment to buy unsold
shares of reorganized DURA common stock is conditioned upon DURA
emerging as a private company once it exits Chapter 11.

Pacificor has committed to buy the unsold portion of the 39.3%
to 42.6% of DURA shares to be offered to holders of 8.625%
senior unsecured notes due April 2012.  As a substantial holder
of the senior notes, Pacificor will get a share of the 57.4% to
60.7% of the reorganized company allotted to that class of debt
under DURA's Joint Plan of Reorganization.

The 9% Noteholders, which will be paid nothing under the Plan,
have already appealed the first version of the Backstop
Agreement.  The Agreement and the rights offering, which is
expected to raise US$140,000,000 to US$160,000,000, are
incorporated in the Plan which will be sent for approval to
senior noteholders and certain general unsecured claimants until
Nov. 15, 2007.  The 9% Noteholders and owners of existing common
stock of DURA, which will also receive 0% recovery on their
interests, will not be entitled to vote on the Plan.

Should the District Court overturn the Bankruptcy Court's order
on the Backstop Agreement, the Debtors may not be able to
achieve its target of emerging from bankruptcy by the end of
2007.  DURA said that absent the Backstop Deal, the Plan will be
rendered infeasible.  DURA had also said that each month of
delay in its exit from Chapter 11 results in significant lost
new business awards.

Rochester Hills, Mich.-based DURA Automotive Systems Inc.
(Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent
designer and manufacturer of driver control systems, seating
control systems, glass systems, engineered assemblies,
structural door modules and exterior trim systems for the global
automotive industry.  The company is also a supplier of similar
products to the recreation vehicle and specialty vehicle
industries.  DURA sells its automotive products to North
American, Japanese and European original equipment manufacturers
and other automotive suppliers.

The Debtors filed for chapter 11 petition on Oct. 30, 2006
(Bankr. D. Del. Case No. 06-11202).  Richard M. Cieri, Esq.,
Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan
Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel
for the Debtors' bankruptcy proceedings.  Mark D. Collins, Esq.,
Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of
Richards Layton & Finger, P.A. Attorneys are the Debtors' co-
counsel.  Baker & McKenzie acts as the Debtors' special counsel.
Togut, Segal & Segal LLP is the Debtors' conflicts counsel.
Miller Buckfire & Co., LLC is the Debtors' investment banker.
Glass & Associates Inc., gives financial advice to the Debtor.
Kurtzman Carson Consultants LLC handles the notice, claims and
balloting for the Debtors and Brunswick Group LLC acts as their
Corporate Communications Consultants for the Debtors.  As of
July 2, 2006, the Debtor had US$1,993,178,000 in total assets
and US$1,730,758,000 in total liabilities.

The Debtors' exclusive plan-filing period expired on
Sept. 30, 2007.   (Dura Automotive Bankruptcy News, Issue No. 31
Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


GRUPO MEXICO: Court Allows Cananea Strike To Continue
-----------------------------------------------------
Grupo Mexico's legal representative Cristina Rocha told Reuters
that a Mexican court has ruled to allow a strike at the firm's
Cananea copper mine to continue for the time being.

As reported in the Troubled Company Reporter-Latin America on
Aug. 2, 2007, Grupo Mexico closed down its Cananea copper mine
after workers walked off the job in a conflict over contracts
and safety.  Grupo Mexico said it expects the Mexican government
to declare the strike illegal.

According to Reuters, Grupo Mexico would likely appeal the court
ruling.

Grupo Mexico claims to lose about US$2.8 million per day since
the Cananea strike started two months ago, cutting off 50% the
firm's Mexican copper output, Reuters states.

Grupo Mexico SA de C.V. -- http://www.grupomexico.com/--
through its ownership of Asarco and the Southern Peru Copper
Company, Grupo Mexico is the world's third largest copper
producer, fourth largest silver producer and fifth largest
producer of zinc and molybdenum.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Dec. 29, 2006, Fitch upgraded the local and foreign currency
Issuer Default Rating assigned to Grupo Mexico, S.A. de C. V. to
'BB+' from 'BB'.  Fitch said the rating outlook is stable.


PRIDE INTERNATIONAL: Robert Phillips Joins Board of Directors
-------------------------------------------------------------
Pride International Inc. has appointed Robert G. Phillips to the
company's board of directors.

Over the past 26 years, Mr. Phillips has served in numerous
senior management positions in the oil and gas industry, most
recently until June 2007 as president and chief executive
officer and a director of the general partner of Enterprise Oil
Products Partners L.P., a publicly traded North American
provider of midstream energy services to producers and consumers
of natural gas, natural gas liquids and crude oil.  Mr. Phillips
also served as chief executive officer of the general partner of
GulfTerra Energy Partners, L.P. from 1999 to 2004 prior to its
acquisition by Enterprise, and held numerous management
positions with El Paso Corporation and its affiliated companies,
including president of El Paso Field Services Company from 1996
to 2004.  From 1981 to 1995, Mr. Phillips served as chairman,
president and chief executive officer of Eastex Energy, Inc.

Mr. Phillips is a member of the executive committee for the
Texas Oil and Gas Association and is on the advisory council of
the McCombs School of Business at the University of Texas at
Austin.  He is also active in Houston civic affairs, serving on
the board of directors of Boys & Girls Country of Houston and
Junior Achievement of Southeast Texas, Inc.

Headquartered in Houston, Texas, Pride International Inc.
(NYSE: PDE) -- http://www.prideinternational.com/-- provides
onshore and offshore contract drilling and related services in
more than 25 countries, operating a diverse fleet of 277 rigs,
including two ultra-deepwater drillships, 12 semisubmersible
rigs, 28 jackups, 16 tender-assisted, barge and platform rigs,
and 214 land rigs.  The company maintains worldwide operations
in France, Mexico, Kazakhstan, India, and Brazil, among others.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Sept. 4, 2007, Fitch Ratings has affirmed Pride International
Inc.'s Issuer Default Rating at 'BB' in addition to affirming
the ratings on Pride International's senior secured revolving
credit facility, senior unsecured notes and their convertible
senior notes.  The Rating Outlook is Stable.  Fitch maintains
the following ratings for Pride International:

  -- Issuer Default Rating (IDR) at 'BB';
  -- Senior unsecured at 'BB';
  -- Senior secured bank facility at 'BBB-';
  -- Senior convertible notes at 'BB'.

As reported in the Troubled Company Reporter-Latin America on
Aug. 3, 2007, Moody's affirmed Pride International, Inc.'s
credit ratings following the company's announcement of the
acquisition of a newbuild drillship to be delivered in 2010.

The ratings affirmed include the Ba1 corporate family rating,
the Ba2 rating on Pride's US$500 million senior notes due 2014,
the Baa2 rating on its US$500 million senior secured credit
facility and speculative grade liquidity rating of SGL-2.
Moody's said the outlook is stable.

Pride Ratings Affirmed:

  -- Ba1 CFR and Probability of Default Rating;
  -- US$500 million Senior Notes due 2014 rated Ba2 (LGD5, 71%);
  -- US$500 million Senior Secured Credit Facility rated Baa2
    (LGD2, 13%);
  -- Speculative Grade Liquidity Rating -- SGL-2;
  -- Senior Unsecured Shelf rated (P)Ba2 (LGD5, 71%);
  -- Subordinated Shelf rated (P)Ba2 (LGD6, 97%);
  -- Preferred Shelf rated Ba2 (LGD6, 97%).


UNITED RENTALS: Fitch Affirms BB- Issuer Default Rating
-------------------------------------------------------
Fitch Ratings has affirmed the long-term Issuer Default Rating
at 'BB-' for United Rentals, Inc and United Rentals (North
America), Inc.  Fitch has removed all ratings from Rating Watch
Negative.  The Rating Outlook is Stable.  Approximately US$2.6
billion in debt was affected by this action.

The affirmation reflects Fitch's view that the proposed sale of
United Rentals Inc. to an affiliate of Cerberus Capital
Management, L.P. will not materially alter the long-term credit
profile of the company.  The affirmation removes prior concerns
articulated by Fitch regarding potential rating downgrades as a
result of the sale.  In the event the sale does not proceed as
planned, Fitch anticipates no further changes to the IDR.

As part of the US$7.0 billion transaction, substantially all
outstanding debt will be repaid.  New debt issuances are
expected to reside at United Rentals (North America) and Fitch
expects to assign specific debt level ratings at the closing of
the transaction.  While the acquisition will likely result in
higher leverage and reduced fixed charge coverage in the short
term, Fitch's rating includes the expectation that efficiencies
will improve and leverage will moderate in a manner consistent
with the assigned rating levels.  Going forward, Fitch will
evaluate the company's progress in creating operational
efficiencies to improve cash flow and reduce debt.

Positive rating drivers include the company's leadership
position in the equipment rental industry, strong retail
franchise, and favorable free cash flow trends.  Fitch also
feels post-acquisition liquidity is adequate for the rating.
Fitch's rating concerns center on the company's exposure to
seasonal and cyclical factors impacting the equipment rental
segment.  Fitch acknowledges that a greater than expected
slowdown in economic growth or demand for rental equipment could
impair the company's ability to reach its performance targets.
Also, in the event that leverage is not reduced in line with
Fitch's expectations, negative rating action could result.
Additionally, Fitch will monitor the impact resulting from the
execution of potential strategic changes under new ownership.

The Rating Outlook is Stable.

Fitch affirmed these ratings and removed them from Rating Watch
Negative:

  United Rentals, Inc.

   -- Long-term Issuer Default Rating 'BB-';

  United Rentals, (North America)

   -- Long-Term IDR 'BB-'.

Fitch expects to assign these ratings at transaction close:

  United Rentals, (North America)

   -- Long-term IDR 'BB-';
   -- Senior unsecured debt 'B+';
   -- First lien secured credit facility 'BB+';
   -- Second lien secured notes 'BB-'.

Fitch expects to withdraw these ratings at transaction closing:

  United Rentals, (North America)

   -- Subordinated debt 'B'.

Greenwich, Conn.-based United Rentals Inc. (NYSE: URI) --
http://unitedrentals.com/-- is an equipment rental company with
an integrated network of over 690 rental locations in 48 states,
10 Canadian provinces and Mexico.  The company's more than
12,000 employees serve construction and industrial customers,
utilities, municipalities, homeowners and others.  The company
offers for rent over 20,000 classes of rental equipment with a
total original cost of US$4.0 billion.  United
Rentals is a member of the Standard & Poor's MidCap 400 Index
and the Russell 2000 Index(R).




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


CUMMINS INC: Paying 25 Cents Per Share Dividend on Nov. 30
----------------------------------------------------------
Cummins Inc.'s Board of Directors has declared a quarterly
common stock cash dividend of 25 cents per share, payable
Nov. 30, 2007 to shareholders of record on Nov. 16, 2007.  The
dividend reflects a 39 percent increase from the same period in
2006, as a result of the Company's decision in July 2007 to
raise the dividend to its current level.

                        About Cummins

Headquartered in Columbus, Indiana, Cummins Inc. (NYSE: CMI)
-- http://www.cummins.com/-- designs, manufactures, distributes
and services engines and related technologies, including fuel
systems, controls, air handling, filtration, emission solutions
and electrical power generation systems.

Cummins has Latin-American operations, particularly in
Venezuela, Brazil, Peru, Colombia, and Argentina.  Its
operations in the Asia-Pacific are found in China, Japan and
Korea.  Its also has facilities in Europe, particularly in the
United Kingdom.

                        *     *     *

Cummins' Junior Convertible Subordinated Debentures carry
Fitch's 'BB' rating with a stable outlook.

Moody's Investors Service raised Cummins' convertible preferred
stock rating to Ba1 from Ba2 and withdrew the company's SGL-1
Speculative Grade Liquidity rating and its Ba1 Corporate Family
Rating.


* PERU: State Firm Inks Hydrocarbons Pact with Reliance
-------------------------------------------------------
Peruvian state-run oil firm Petroperu has signed a memorandum of
understanding for hydrocarbons exploration and production and
fuel commercialization with Indian group Reliance Industries,
Business News Americas reports.

State news agency Andina relates that the pact will promote:

          -- commercial cooperation,
          -- technical cooperation,
          -- scientific cooperation, and
          -- technological cooperation, particularly in the
             refining.

                        *     *     *

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
=====================


ADVANCED MEDICAL: Names M. Lambert as Chief Financial Officer
-------------------------------------------------------------
Advanced Medical Optics Inc. has selected Michael J. Lambert as
its chief financial officer effective Oct. 15.

Mr. Lambert is a seasoned executive who brings to Advanced
Medical approximately 20 years of experience and a diverse
financial background.  Most recently, he was senior vice
president and chief financial officer of Quest Software, Inc.
where he drove productivity gains and controlled costs, improved
cash flow performance, integrated multiple acquisitions, and
improved resource allocation processes.

Prior to joining Quest in November 2004, Mr. Lambert was chief
financial officer at Quantum Corporation, and Nervewire, Inc., a
pre-IPO Internet services firm.  He was also chief financial
officer for a division of Lucent Technologies.  Mr. Lambert
holds a master's degree from Harvard Graduate School of Business
Administration and a bachelor's degree from Stonehill College.

"Michael is an outstanding addition to our executive leadership
team," said Jim Mazzo, AMO chairman, president and chief
executive officer.  "He is an experienced leader with an
excellent reputation and a deep understanding of the financial
requirements of a public company with a global presence.  I
expect Michael to play an integral role in advancing our
strategy to achieve sustained, profitable growth through
innovative vision technologies that enhance the quality of life
for people of all ages.  I am pleased to welcome Michael to
AMO."

At AMO, Mr. Lambert will oversee the company's finance,
accounting, tax, treasury and information technology functions
and report directly to Mr. Mazzo.

Before Mr. Lambert's appointment, Richard (Randy) A. Meier, held
positions of chief financial officer and chief operating officer
at AMO.  Mr. Meier will continue as AMO's chief operating
officer and assume additional responsibility for management of
the company's cataract/implant business and global customer
services function, while maintaining his existing management
responsibilities for AMO's eye care business and the company's
global manufacturing and supply chain operations.  C. Russell
Trenary, III, 50, who was previously president of the company's
cataract/implant business, has been named executive vice
president of global public policy and medical education
encompassing all of AMO's businesses and product lines.  Both
executives will continue to report directly to Mr. Mazzo.

Headquartered in Santa Ana, California, Advanced Medical Optics
-- http://www.amo-inc.com/-- develops, manufactures and markets
ophthalmic surgical and contact lens care products.  Sales for
the twelve months ended June 24, 2005 were approximately US$921
million.  The company has operations in Germany, Japan, Ireland,
Puerto Rico and Brazil.

As reported in the Troubled Company Reporter-Latin America on
Sept. 5, 2007, Standard & Poor's Ratings Services lowered its
corporate credit rating on Advanced Medical Optics Inc. to 'B+'
from 'BB-'; the ratings have been removed from CreditWatch with
negative implications, where they were placed on Aug. 6, 2007.


DORAL FINANCIAL: Hires Denise Segarra Sacarello as Senior VP
------------------------------------------------------------
Doral Financial Corporation has appointed local mortgage leader
Denise Segarra Sacarello as its Senior Vice President, Mortgage
Group Director.  As announced by its CEO Glen Wakeman, Ms.
Segarra Sacarello will report to Calixto Garcia-Velez, president
of Doral Bank.  Ms. Segarra Sacarello, who has extensive
experience in the mortgage and banking industry, was recently
named Banker of the Year by the Landlords Association of Puerto
Rico (Asociacion de Arrendadores de Bienes Inmuebles de Puerto
Rico).

"The high caliber of leaders that continue to join Doral is key
as we move forward in implementing our growth plan and
transformation into a community bank.  Denise's deep
understanding of both retail and mortgage banking brings Doral
the depth needed to lead our mortgage business as we develop new
innovative programs to serve our clients," said Glen Wakeman,
Doral Financial Corp. Chief Executive Officer.

Prior to her appointment, Ms. Segarra Sacarello was President of
First Mortgage, Puerto Rico, a subsidiary of FirstBank,
responsible for the residential and commercial mortgage
servicing portfolio.  Prior to that, she was FirstBank's Sales &
Distribution Senior Vice President for Retail Banking.  She also
served as Vice President and General Manager at Casiano
Communications, Puerto Rico, responsible for its telemarketing
subsidiary, Direct ResponSource.

Ms. Segarra Sacarello graduated from Sacred Heart University of
Puerto Rico with a bachelor's degree in marketing management.
She is also licensed in the Real Estate industry.

Based in New York City, Doral Financial Corp. (NYSE: DRL) --
http://www.doralfinancial.com/-- is a diversified financial
services company engaged in mortgage banking, banking,
investment banking activities, institutional securities and
insurance agency operations.  Its activities are principally
conducted in Puerto Rico and in the New York City metropolitan
area.  Doral is the parent company of Doral Bank, a Puerto Rico
based commercial bank, Doral Securities, a Puerto Rico based
investment banking and institutional brokerage firm, Doral
Insurance Agency Inc. and Doral Bank FSB, a federal savings bank
based in New York City.

                        *     *     *

As reported in the Troubled Company Reporter on Aug. 2, 2007,
Fitch Ratings has placed Doral Financial Corporation's ratings
on Positive Outlook:

  Doral Financial Corporation

    -- Long-term Issuer Default Rating 'CCC';
    -- Senior debt to 'CCC/RR4'';
    -- Preferred stock to 'C/RR6';
    -- Short-term Issuer Default Rating 'C';
    -- Support '5';
    -- Support Floor 'NF';
    -- Individual 'E'.

  Doral Bank

    -- Long-term Issuer Default Rating 'B';
    -- Long-term deposits B+;
    -- Support '5';
    -- Support Floor 'NF';
    -- Individual 'D';
    -- Short-term Issuer 'B';
    -- Short-term deposit obligations 'B'.

As reported in the Troubled Company Reporter-Latin America on
July 23, 2007, Moody's Investors Service confirmed the B2 senior
debt rating of Doral Financial Corporation.  The rating had been
on review for possible downgrade since Jan. 5, 2007.  Moody's
said the rating outlook is stable.


FOOT LOCKER: S&P Lowers Corporate Credit Rating to BB
-----------------------------------------------------
Standard & Poor's Ratings Services has lowered its corporate
credit and senior unsecured ratings on New York City-based Foot
Locker Inc. to 'BB' from 'BB+'.  S&P has removed the ratings
from CreditWatch, where they were placed with negative
implications on Aug. 18, 2006.  The outlook is negative.

"The downgrade reflects recent poor operating performance,"
explained S&P's credit analyst David Kuntz, "and our expectation
that these trends may not soon reverse."  He also noted the
likelihood that Foot Locker will not meet its fixed-charge
covenant in the second half of 2007.

"We expect operating performance to remain weak through the
remainder of 2007 and into early 2008," said Mr. Kuntz.  The
company has taken significant markdowns to clear out inventory,
which should position its balance sheet well going forward.
"However," he added, "we remain concerned over the length and
severity of the downturn in the athletic shoe segment."

Headquartered in New York, Foot Locker, Inc. (NYSE: FL) ---
http://www.footlocker-inc.com/-- is a retailer of athletic
footwear and apparel, operated 3,942 primarily mall-based stores
in the United States, Canada, Puerto Rico, Europe, Australia,
and New Zealand as of Feb. 3, 2007.


GENESCO INC: Declares Dividends for Quarter Ending Nov. 3
---------------------------------------------------------
The board of directors of Genesco Inc. has declared dividends on
the various classes of its preferred stock for the quarter
ending Nov. 3, 2007, payable on Oct. 30, 2007, to shareholders
of record on Oct. 15, 2007.

    The rates are:

-- Subordinated serial preferred stock:

      Series 1            US$0.575 per share
      Series 3            US$1.1875 per share
      Series 4            US$1.1875 per share

-- Subordinated cumulative preferred stock: US$0.375 per share

                      About Genesco Inc.

Based in Nashville, Tennessee, Genesco Inc. (NYSE: GCO) --
http://www.genesco.com/-- is a specialty retailer of footwear,
headwear and accessories in more than 1,900 retail stores in the
U.S. and Canada, principally under the names Journeys, Journeys
Kidz, Shi by Journeys, Johnston & Murphy, Underground Station,
Hatworld, Lids, Hat Zone, Cap Factory, Head Quarters and Cap
Connection.  The company also sells footwear at wholesale under
its Johnston & Murphy brand and under the licensed Dockers.

Genesco has operations in Puerto Rico.

                        *     *     *

As reported in the Troubled Company Reporter on June 4, 2007,
Standard & Poor's Ratings Services said that its ratings on
specialty Genesco Inc. remain on CreditWatch with developing
implications, following the announcement that it has rejected
Foot Locker Inc.'s conditional bid to acquire Genesco for
approximately US$1.3 billion (US$51.00 per share) in cash.

In April 2007, S&P placed its ratings, including the 'BB-'
corporate credit rating, on Genesco Inc. on CreditWatch with
developing implications after Foot Locker launched its bid for
Genesco.

The Foot Locker deal also prompted Moody's Investors Service to
place the ratings of Genesco on review for possible downgrade.
Affected ratings include the company's "Ba3" corporate family
rating.


KOOSHAREM CORP: S&P Assigns B+ Rating on US$84 Mln. Bank Loan
-------------------------------------------------------------
Standard & Poor's Ratings Services has assigned its 'B+' bank
loan and '2' recovery ratings to staffing company Koosharem
Corp.'s (B/Stable/--) US$84 million first-lien term loan due
2014.

Proceeds have been used to fund the October 2007 acquisition of
Tandem Staffing Solutions Inc., which will lower the
contribution from California to below half of revenues.

Pro forma for the US$84 million accordion facility, the first-
lien facilities consist of a US$50 million revolving credit
facility due 2012 and US$334 million of term loans due 2014.
The first-lien bank loan facilities retain the rating of 'B+',
one notch above the corporate credit rating on Koosharem, with a
recovery rating of '2', indicating S&P's expectation of
substantial (70%-90%) recovery of principal in the event of a
payment default.  The company's US$100 million second-lien term
loan due 2014 is rated CCC+, with a recovery rating of '6',
indicating S&P's expectation of negligible (0%-10%) recovery of
principal in the event of a payment default.

Koosharem (dba Select), headquartered in Santa Barbara,
California, is a privately-held staffing services business with
a network of more than 250 offices in 34 states.  Select offers
temporary, temp-to-hire, and direct placement positions and
derives most of its revenues from the placement of light
industrial and clerical staff.  Revenues for the year ended
Dec. 31, 2006, were US$857 million.   The combined company
expects to provide its services in 35 states, Puerto Rico and
Canada, through a network of 220 offices.


NEWCOMM WIRELESS: Court Confirms Chapter 11 Liquidation Plan
------------------------------------------------------------
The United States Bankruptcy Court for the District of Puerto
Rico confirmed Newcomm Wireless Services Inc.'s Chapter 11 Plan
of Liquidation.

As reported in the Troubled Company Reporter on Sept. 6, 2007,
the Plan provides for the orderly distribution of the proceeds
from the sale of its assets to PRWireless Inc. for
US$158,636,874.  Newcomm received proofs of claim totaling
US$250 million.

A fundamental component of the Plan is the Telefonica Settlement
Agreement, which resolves several inter-related complex
litigations.  Each group of claimants will receive distribution
under the plan.

                Treatment of Claims and Interests

Under the Debtor's plan, US$1.7 million of allowed
administrative and US$1 million of priority claims will be paid
in full.  Tax claims will be satisfied in accordance with
Section 507(a)(8) of the Bankruptcy Code.

Secured claims amounting to US$100,000 will be unimpaired,
meaning, holders will be paid in full.

General unsecured creditors, holding an aggregate US$10 million
in claims, will receive cash in satisfaction of whatever part of
their claims will be deemed "allowed."

The Debtor's equity holders will receive a share on the sale
proceeds up to US$17.5 million in accordance with the terms of
the Telefonica Settlement Agreement.

               Telefonica Settlement Agreement

On May 7, the Debtor reached a compromise with the Telefonica
Group in full settlement of its claims against Newcomm.

As part of the compromise and settlement, pursuant to the terms
of the Plan and subject to the occurrence of the Effective Date:

    i) all claims filed by the Telefonica Group in the
       Chapter 11 case will be voluntarily subordinated to the
       Allowed Claims of the Debtor's other unsecured creditors;

   ii) the unsecured claim filed by ClearComm will be disallowed
       for all purposes;

  iii) the Equity Group Equity Interests will share in
       US$17,500,000 after payment of:

       a) Allowed Secured Claims
       b) Allowed Claims of Holders of Administrative Claims;
       c) Allowed Priority Tax Claims;
       d) Allowed Priority Non-Tax Claims;
       e) Allowed Non-DIP Facility Secured Claims; and
       f) all Allowed General Unsecured Claims (with the
          exception of the claims filed by the Telefonica Group
          and ClearComm); and

   iv) the balance of the Residual Amount -- estimated at
       US$12,500,000 -- will be distributed to the Holders of
       the Telefonica Group Equity Interests in full
       satisfaction of all Claims voluntarily subordinated as
       well as all Interests held by any member of the
       Telefonica Group.

Based in Guaynabo, Puerto Rico, NewComm Wireless Services Inc.
is a PCS company that provides wireless service to the Puerto
Rico market.  The company is a joint venture between ClearComm,
L.P. and Telefonica Larga Distancia.  The company filed for
chapter 11 protection on Nov. 28, 2006 (Bankr. D. P.R. Case No.
06-04755).  Carmen D. Conde Torres, Esq., at C. Conde & Assoc.
and Peter D. Wolfston, Esq., at Sonnenschein Nath & Rosenthal
LLP represent the Debtor in its restructuring efforts.  Mark J.
Wolfson, Esq. at Foley & Lardner LLP and Sergio A. Ramirez de
Arellano, Esq., at Sergio Ramirez de Arrelano Law Office
represent the Official Committee of Unsecured Creditors.  In its
schedules, the Debtor disclosed total assets of US$111,652,190
and total debts of US$190,695,559.




=================================
T R I N I D A D   &   T O B A G O
=================================


DIGICEL: Court Grants Plea To Have 3 Directors in Proceedings
-------------------------------------------------------------
The Trinidad Express reports that the Trinidad and Tobago's High
Court has granted Digicel leave to have three foreign-based
directors working with Cable and Wireless served with the
proceedings, in relation with the contempt of court proceedings
it filed against Trinidad state-run Telecommunications Services
of Trinidad and Tobago Limited in August 2007.

According to the Trinidad Express, Digicel claimed that the
state firm failed breached an order from High Court Judge Nolan
Bereaux of the Port of Spain Sixth Civil Court at the Hall of
Justice to provide Digicel with adequate circuits to permit
interconnection.

As reported in the Troubled Company Reporter-Latin America on
April 23, 2007, Digicel accused Telecommunications Services of
deliberately blocking its calls on its cellular network.
Telecommunications Services was ordered to allow Digicel calls
to flow freely through its network, to both land and mobile
customers, by repairing its equipment and removing any
restrictions that blocked Digicel's calls, and that the company
add circuits to their network to accommodate the increased
traffic to its mobile and land lines and to also allow a Digicel
representative limited access to Telecommunications Services'
database to search for evidence to substantiate its claims of
sabotage.

The Trinidad Express notes that Digicel's attorney Andre LeBlanc
and Telecommunications Services' attorney Ria Bholai appeared
before the High Court for leave to have these directors served:

           -- Mark MacFee, who lives in the Cayman Islands;
           -- Leonardo De Barros, who lives in Jamaica; and
           -- Christopher Hetherington, who lives in Barbados.

The contempt motion will be heard on Oct. 15, the Trinidad
Express states.

Digicel Ltd. is a wireless services provider in the Caribbean
region founded in 2000, and controlled by Denis O'Brien.  The
company started operations in Jamaica in April 2001 and now
offers GSM mobile services in Caribbean countries including
Jamaica, St. Lucia, St. Vincent, Aruba, Grenada, Barbados,
Bermuda, Cayman, and Curacao among others.  Digicel finished
FY2005 with 1.722 million total subscribers -- 97% pre-paid --
estimated market share of 67% and revenues and EBITDA of US$478
million and US$155 million, respectively.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Feb. 20, 2007, Fitch Ratings took these rating actions for
Digicel Group Ltd., Digicel Ltd. and Digicel International
Finance Ltd.:

Digicel Group Ltd.

   -- Proposed US$1.4 billion senior subordinated notes
      due 2015 assigned 'CCC+/RR5'

Digicel Ltd.

   -- Foreign currency Issuer Default Rating downgraded
      to 'B-' from 'B'; and

   -- US$450 million senior notes due 2012 downgraded
      to 'B-/RR4' from'B/RR4'.

Digicel International Finance Ltd.

   --US$850 million senior secured credit facility
     assigned 'B/RR3'.

Fitch said the outlook on all ratings is stable.




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


ARVINMERITOR INC: Signs Six-Year Contract with Electronic Data
--------------------------------------------------------------
ArvinMeritor and Electronic Data Systems Corp. has recently
signed a new, six-year agreement for EDS to manage the tier-one
automotive supplier's U.S. and Canadian Information Systems
infrastructure services.  EDS will help enable enhanced
capabilities, promote predictability in the system and speed
ArvinMeritor's ability to change with the evolving business
climate.

"As we continue our transformation, we look to EDS as a partner
that has extensive IS and industry experience," said Jay McLean,
vice president of service delivery, Information Systems, for
ArvinMeritor.  "Together, we will enhance our IS infrastructure
to one that is optimized for scale and reliability as we face
the challenges of today's marketplace."

With the agreement, EDS will assume responsibility for
ArvinMeritor's IS infrastructure, which includes consolidating
and hosting its midrange servers and mainframe computers in EDS
data centers.  EDS will provide support for the manufacturer's
data and voice networks, desktop and other end-user computing
services, electronic messaging, and provide global call center
services.

This enhanced IS infrastructure will standardize and modernize
tools and processes to increase quality and reduce
ArvinMeritor's total cost of ownership for its IS environment.

"As we launch this new contract, we are committed to
establishing a strong relationship," said Jeff Kelly, executive
vice president and manufacturing leader at EDS.  "Our goal is to
transform ArvinMeritor's IS environment in support of its
strategic initiatives with a secure, reliable global platform
essential for long-term sustainable growth."

EDS Agility Alliance partners Sun Microsystems and EMC will
provide products and services to ArvinMeritor related to the
consolidation of its midrange and data storage environments.
The EDS Agility Alliance is a coalition of companies globally
recognized for their quality, products and value to clients.
Its mission is to innovate, develop and deliver the EDS Agile
Enterprise Platform - EDS' next-generation global delivery
system.  Together, EDS and its Agility Alliance partners
collaborate to design, build and run a market-leading services
platform and develop technology-based services to deliver
tangible client results.  EDS Agility Alliance partners include
Cisco, EMC, Microsoft, Oracle, SAP, Sun Microsystems and Xerox.

EDS has significant industry-based knowledge in the automotive,
aerospace and defense, high tech and industrial manufacturing
segments, with more than 30 years of experience working with
manufacturers.  More than 20,000 EDS employees serve over 220
manufacturing clients in 40 countries.

                     About Electronic Data

Electronic Data Systems Corp. -- http://www.eds.com-- (NYSE:
EDS) is a leading global technology services company delivering
business solutions to its clients.  EDS founded the information
technology outsourcing industry 45 years ago.  Today, EDS
delivers a broad portfolio of information technology and
business process outsourcing services to clients in the
manufacturing, financial services, healthcare, communications,
energy, transportation, and consumer and retail industries and
to governments around the world.

                     About ArvinMeritor

Headquartered in Troy, Michigan, ArvinMeritor, Inc. (NYSE: ARM)
-- http://www.arvinmeritor.com/-- supplies integrated systems,
modules and components to the motor vehicle industry.  The
company serves light vehicle, commercial truck, trailer and
specialty original equipment manufacturers and certain
aftermarkets.  ArvinMeritor employs about 29,000 people at more
than 120 manufacturing facilities in 25 countries.  These
countries are: China, India, Japan, Singapore, Thailand,
Australia, Venezuela, Brazil, Argentina, Belgium, Czech
Republic, France, Germany, Hungary, Italy, Netherlands, Spain,
Sweden, Switzerland, United Kingdom, among others.

                        *     *     *

As reported in the Troubled Company Reporter on Oct. 09, 2007,
Fitch Ratings has downgraded its ratings on ArvinMeritor as:

  -- Issuer Default Rating to 'BB-' from 'BB';
  -- Senior secured revolver to 'BB' from 'BB+'.
  -- Senior unsecured notes to 'B+' from 'BB-'.

Fitch said the rating outlook is negative.  Including the
undrawn portion of the secured revolver, approximately US$2.2
billion of debt is affected by these actions.


CHRYSLER LLC: UAW Strike Deadline Looms, Contract Talks Stall
-------------------------------------------------------------
The United Auto Workers union's deadline to rally against
Chrysler LLC draws near as contract negotiations between the
parties stall on over wages, health care and other issues,
various papers report citing sources familiar with the matter.

As reported in yesterday's Troubled Company Reporter, Chrysler
has until 11 a.m. today, Wednesday, Oct. 10, 2007, to close its
contract negotiations with the UAW, otherwise 49,000 union
members will hold a strike against the company.

Chrysler employees, sources say, are wary of the track record of
new owner Cerberus Capital Management LP, who have less
experience with the UAW.

As previously reported, Cerberus Capital doesn't want to be
burdened with the cost of transferring retiree health care
administration to the UAW.

Chrysler indicated that it opts to use more convertible bonds,
and less cash in a union-administered fund, the Wall Street
Journal relates.  The company is also reluctant to agree to a
deal preventing outsourcing jobs to UAW workers and committing
product lines beyond the next contract.

Various papers report that the carmaker is likely to displace
1,500 non-union workers, probably through early retirement or
buyout offers.  The lay-offs add to the 11,000 hourly and 2,000
salaried jobs Chrysler had planned to cut over three years,
before it was bought by private-equity firm Cerberus Capital
Management LP from DaimlerChrysler AG nka Daimler AG.

In February 2007, DaimlerChrysler intended to cut 10,000 factory
jobs and shut down at least two plants at Chrysler Group to
return the U.S.-based division to profitability, Reuters reports
citing the Detroit News as its source.  According to the report,
a hidden restructuring plan called "Project X" aims to transform
Chrysler into a smaller, more efficient automaker.

                     About Chrysler LLC

Headquartered in Auburn Hills, Michigan, Chrysler LLC --
http://www.chrysler.com/-- offers cars and minivans, pick-up
trucks, sport utility vehicles, and vans under the Chrysler,
Jeep, and Dodge brand names.  It also sells parts and
accessories under the MOPAR brand.

The company has dealers worldwide, including Canada, Mexico,
U.S., Germany, France, U.K., Argentina, Brazil, Venezuela,
China, Japan and Australia.

                        *     *     *

On Oct. 1, 2007, Standard & Poor's Ratings Services placed its
corporate credit ratings on Chrysler LLC and DaimlerChrysler
Financial Services Americas LLC on CreditWatch with positive
implications.

As reported in the Troubled Company Reporter on Aug. 8, 2007,
Standard & Poor's Ratings Services revised its loan and recovery
ratings on Chrysler LLC's (B/Negative/--) US$10 billion senior
secured first-lien term loan facility due 2013, following
various changes to terms and conditions prior to closing.  The
US$10 billion first-lien term loan now consists of a US$5
billion "first-out" tranche and a US$5 billion "second-out"
tranche, so the aggregate amount of first-lien debt remains
unchanged.

Accordingly, S&P assigned a 'BB-' rating to the US$5 billion
"first-out" first-lien term loan tranche.  This rating, two
notches above the corporate credit rating of 'B' on Chrysler
LLC, and the '1' recovery rating indicate S&P's expectation for
very high recovery in the event of payment default.  S&P also
assigned a 'B' rating to the US$5 billion "second-out" first-
lien term loan tranche.  This rating, the same as the corporate
credit rating, and the '3' recovery rating indicate S&P's
expectation for a meaningful recovery in the event of payment
default.

Moody's Investors Service has affirmed Chrysler Automotive LLC's
B3 Corporate Family Rating, and the Caa1 rating of the company's
US$2 billion senior secured, second lien term loan in connection
with Monday's closing of DaimlerChrysler AG's sale of a majority
interest of Chrysler Group to Cerberus Capital Management LLC.


PETROLEOS DE VENEZUELA: Orinoco Has 100B Barrels in Oil Reserves
----------------------------------------------------------------
Venezuelan state-run oil firm Petroleos de Venezuela SA said in
a statement that the Orinoco heavy crude oil belt has about 100
billion barrels in proven oil reserves.

Business News Americas relates that the energy and oil ministry
ratified certification documents of Petroleos de Venezuela unit
CVP that added 20.1 billion barrels of proven oil reserves from
these blocks:

          -- Carabobo 2,
          -- Carabobo 3, and
          -- Carabobo 4.

According to BNamericas, the ministry disclosed an additional
7.6 billion barrels of proven oil reserves from the Carabobo 1
block in 2006.

Petroleos de Venezuela said in a statement, "With the
certification of these reserves, Venezuela has taken a giant
step towards becoming the country with the largest reserves of
liquid hydrocarbons in the world."

An industry source commented to BNamericas that the
certification was "political."  According to him,
"[International certification firm] Ryder Scott certified the
original oil in place [OOIP], but not the recoverable oil [which
the government says is 100 billion barrels].  In a proper
certification process, the reserve engineers would certify the
amount of oil in the ground and then the amount that can be
brought to the surface.  In Venezuela's certification, however,
the government is assuming the last part."

The source told BNamericas that recovery factors have usually
been up to 8% in the Orinoco belt.  The government's
100-billion-barrel estimate "assumes a 20% recovery factor.
Companies with heavy oil expertise know the certifications are
unrealistic."

"This inflated figure means Venezuela can claim the largest
reserves in the world and potentially gives them more
negotiating power within OPEC, where they have been arguing for
a long time that quotas should be based on reserves rather than
production capacity," BNamericas states, citing the source.

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.


SHAW GROUP: Bags Deals fron Army Corps & Dept. of Agriculture
-------------------------------------------------------------
Shaw Awarded Contracts by Army Corps of Engineers and the
Department of Agriculture

The Shaw Group Inc.'s Environmental & Infrastructure Group has
been awarded a Multiple Award Task Order Contract (MATOC) by the
U.S. Army Corps of Engineers, and two design and build contracts
by the Forest Service agency of the U.S. Department of
Agriculture.

Shaw was selected for the MATOC to complete task orders in
support of the Savannah District's on-going military missions
and to support requirements related to the Army's
Transformation, Base Realignment and Closure and Global
Reposition of Soldiers Programs as needed.  Shaw is one of four
contractors selected for the vehicle maintenance complex
contract, which has a three-year term.  The value of Shaw's
contract, which has already been included in the company's
backlog, was not disclosed.

As for the two Forest Service agency contracts, Shaw will
provide construction of four buildings totaling 23,000 square
feet, which includes an office building, warehouse, fire station
and crew quarters at the Lost Lodge Ranger Station in
Cloudcroft, N.M. Shaw also will be responsible for site work,
utilities, parking lot and hazmat building pad construction. The
value of Shaw's contract, which has already been included in the
company's backlog, was not disclosed.  The New Mexico projects
are expected to be completed by July 2008.

Shaw's second Forest Service agency contract includes demolition
of existing buildings, utilities, site features and construction
of three buildings totaling 21,650 square feet at the Verde
Ranger Station in Camp Verde, Ariz.  Shaw also will be
responsible for site improvements and utilities construction.
The value of Shaw's contract, which will be included in the
company's first quarter fiscal year 2008 backlog, was not
disclosed.  The work is expected to be completed by October
2008.

Both Forest Service agency contracts require that the facilities
be designed and constructed to comply with applicable codes,
standards, and principles of sustainability and obtain a
Leadership in Energy and Environmental Design certification at
the Silver level, as well as achieve an Energy Star rating for
all buildings.

"Shaw is pleased to have been selected to provide these critical
design and construction capabilities to support the Army's
mission," said J.M. Bernhard Jr., Shaw's chairman, president and
chief executive officer.  "We've worked successfully with the
Savannah District for more than 10 years and we are committed to
providing timely, cost effective, and quality services and
products for the vehicle maintenance facility complexes
throughout the Corps' South Atlantic Division area of
operations.

"We also are pleased to be the first contractor to work with the
Forest Service Region Three on these design-build contracts,"
said Bernhard.  "With the significant emphasis by many federal
agencies and private companies to build 'green' and deliver
LEED-certified projects, this type of project further
strengthens our position in the sustainable design and
construction marketplace."

                      About Shaw Group

Based in Baton Rouge, Louisiana, The Shaw Group Inc. (NYSE: SGR)
-- http://www.shawgrp.com/-- provides services to the
environmental, infrastructure and homeland security markets,
including consulting, engineering, construction, remediation and
facilities management services to governmental and commercial
customers.  It is also a vertically integrated provider of
engineering, procurement, pipe fabrication, construction and
maintenance services to the power and process industries.  The
company segregates its business activities into four operating
segments: Environmental & Infrastructure; Energy & Chemicals;
Maintenance, and Fabrication, Manufacturing & Distribution.  In
January 2005, the company sold substantially all of the assets
of its Shaw Power Technologies, Inc. and Shaw Power Technologies
International, Ltd. units to Siemens Power Transmission and
Distribution Inc., a unit of Siemens AG.

The company has operations in Chile, China, Malaysia, the United
Kingdom and, Venezuela, among others.

                        *     *     *

Standard & Poor's Ratings Services affirmed its 'BB' corporate
credit rating on The Shaw Group Inc. and removed it from
CreditWatch, where it was placed with negative implications in
October 2006.  S&P said the outlook is stable.

In addition, 'BB' senior secured debt rating was affirmed after
the US$100 million increase to the company's revolving credit
facility.


* VENEZUELA: To Open Gas Pipeline with Colombia, Minister Says
--------------------------------------------------------------
Colombian President Alvaro Uribe and his Venezuelan counterpart
Hugo Chavez would launch a gas pipeline linking the two
countries, Inside Costa Rica reports, citing Foreign Minister
Fernando Araujo.

According to Mr. Araujo, a meeting for the presidents to open
the bi-national gas pipeline has been planned.  Details about
the meeting place were not disclosed.

Inside Costa Rica relates that 177-km pipeline cost US$335
million and connects the Colombian region of Punta Ballenas in
the northern province of Guajira and the Venezuelan city of
Maracaibo.

The Foreign Minister told Inside Costa Rica that they have
invited Ecuador's Rafael Correa since the pipeline is reaching
Ecuador and possibly Peru and Bolivia.

Report shows that Colombia will deliver 200 million cubic feet
of gas to Venezuela during the pipeline's first phase.  Later,
Venezuela will use the same pipeline to supply gas to Colombia
and Panama.

                        *     *     *

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, 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
240/629-3300.


           * * * End of Transmission * * *