TCRLA_Public/071019.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

           Friday, October 19, 2007, Vol. 8, Issue 208

                          Headlines

A R G E N T I N A

CORAL SEA: Trustee Filing Individual Reports in Court on Monday
EASTMAN KODAK: Names Mary Jane Hellyar as Exec. Vice President
EDICIONES LATINOAMERICANAS: Claims Report Filing on Feb. 27
FENITECH SRL: Proofs of Claim Verification Deadline Is Dec. 5
ALITALIA SPA: Baldassarre Group Eyes Three-Year Restructuring

FORD MOTOR: Continues Low-Level Contract Talks with UAW
GEMIKA SA: Trustee Filing General Report in Court on Oct. 22
ITAL GRAF: Proofs of Claim Filing Deadline Is Dec. 21
KLUJ GRISOLIA: Trustee Filing General Report in Court on Oct. 22
RED HAT: S&P Affirms B+ Corp. Credit Rating w/ Positive Outlook

ROCHI FARM: Trustee Verifies Proofs of Claim Until Feb. 13
SANCHEZ CONSTRUCCIONES: Claims Verification Period Ends Nov. 15
TRANCO LARGO: Trustee Filing General Report in Court on Oct. 22

* ARGENTINA: Obtains US$230-Million Healthcare Financing


B A H A M A S

HARRAH'S ENTERTAINMENT: NJ Casino Agency Approves Apollo Merger
METROPOLITAN BANK: Lower Tier 2 Notes Twice Oversubscribed


B A R B A D O S

ANDREW CORP: Debt Refinancing Prompts S&P to Affirm Ratings


B E R M U D A

KOCH TREASURY: Holding Final Shareholders Meeting on Nov. 19
LANNER RE: Proofs of Claim Filing Deadline Is Today
LANNER RE: Sets Final Shareholders Meeting for Nov. 15
ODYSSEY TRADING: Sets Final Shareholders Meeting for Nov. 14
ROYALE RESORTS: Will Hold Final Shareholders Meeting on Nov. 14


B O L I V I A

AGILENT TECHNOLOGIES: Inks Marketing Agreement with BioTrove


B R A Z I L

BANCO NACIONAL: Okays BRL549-Million Indirect Loan for Light
BANCO NACIONAL: Funding Ethanol Program with BRL3.2-Billion Loan
BRASIL TELECOM: Concludes Telecom Italia Indirect Stake Buy
COMMSCOPE INC: S&P Affirms BB- Corporate Credit Rating
COMPANHIA PARANAENSE: Power Sales Rise 6.0% in First Nine Months

COMPANHIA SIDERURGICA: Deutsche Bank Ups Shares' Rating to Buy
FIAT SPA: Finance Unit to Repay EUR123.4 Million in Bonds
FIAT SPA: Inks Cooperation Deal with Russia's Avtovaz
GENERAL MOTORS: To Cut 767 Jobs at Hammtramck Plant in December
GERDAU AMERISTEEL: To Issue 110 Million of Common Shares

KENDLE INT'L: Names Mary Briggs Vice President for Global Sales
SCO GROUP: Terminates 16 Employees; Wants Names Filed Under Seal
SCO GROUP: Files Schedules of Assets & Liabilities

* BRAZIL: Reaches US$1-Billion Loan Deal with Angola
* BRAZIL: Petrobras Says International Oil Prices To Remain High
* BRAZIL: Commits to Increase Trade with India & South Africa
* BRAZIL: Underwater Pumping System May Raise JUB-6 Well Output


C A Y M A N   I S L A N D S

APCOA IIP: Proofs of Claim Filing Deadline Is Nov. 5
APCOA EQUITY: Proofs of Claim Filing Is Until Nov. 5
BABYLON ML: Creditors Must File Proofs of Claim by Nov. 5
CABLE & WIRELESS: Dismisses Speculation on Business Disposal
EQUITY APC: Proofs of Claim Filing Ends on Nov. 5

INVESTCORP APCOA: Proofs of Claim Filing Deadline Is Nov. 5
INVESTCORP APCOA ISLAMIC: Proofs of Claim Filing Ends on Nov. 5
KARDIO THIRD: Proofs of Claim Filing Ends on Nov. 5
PROJECT CENTRAL: Creditors Must File Proofs of Claim by Nov. 15
SECURITY CAPITAL: Creditors Must File Proofs of Claim by Nov. 15

SHORELINE GROUP: Creditors Must File Proofs of Claim by Nov. 16
SOJA CAPITAL: Creditors Must File Proofs of Claim by Nov. 18
SOLARIS SPECTRA: Creditors Must File Proofs of Claim by Nov. 15
SOUTHWEST UNDERWRITERS: Proofs of Claim Must be Filed by Nov. 15
STAR CAPTURE: Creditors Must File Proofs of Claim by Nov. 15

STONE HARBOR: Creditors Must File Proofs of Claim by Nov. 5
TECH CHAIN: Creditors Must File Proofs of Claim by Nov. 6
TERTIA LIMITED: Creditors Must File Proofs of Claim by Nov. 15
WEST 57: Proofs of Claim Filing Deadline Is Nov. 5
WEST 57 EQUITY: Proofs of Claim Filing Is Until Nov. 5

WEST 57 INVESTMENTS: Proofs of Claim Filing Ends on Nov. 5
WEST 57 EQUITY INVESTMENTS: Claims Filing Deadline Is Nov. 5


C H I L E

BELL MICROPRODUCTS: Expects US$1.015 Billion Revenue Increase
BOSTON SCIENFIFIC: To Reduce Workforce Worldwide by 2,300
SHAW GROUP: Environmental Unit Bags U.S. Navy Contract


C O L O M B I A

GMAC LLC: Fin'l Services Unit Restructures Mortgage Operations
GMAC LLC: S&P Places BB+/B-1 Credit Rating on Watch Negative
SOLUTIA INC: Treatment of Claims Under Revised Plan


C O S T A   R I C A

MITEL NETWORKS: To Use Microsoft Office Communications Server


E C U A D O R

HILTON HOTELS: Finishing Up Renovations in Two Ecuadorian Units
PETROECUADOR: Amazon Residents Hold Strike Against Firm

* ECUADOR: Nine Firms Want To Represent State Against Occidental


G U A T E M A L A

BRITISH AIRWAYS: CEO Says Iberia Deal is "Not Transformational"
GOODYEAR TIRE: Conversion Period for Conv. Notes Ends Dec. 31


H O N D U R A S

* HONDURAS: Nicaraguans Visit To Talk Bilateral Economic Issues


M E X I C O

ADVANCED MARKETING: Wants More Time to Decide on Remaining Lease
CROWN HOLDINGS: Reports 19.6% Profit Growth for Third Quarter
DOMINO'S PIZZA: Reports US$11 Million Third Quarter Net Income
DURA AUTOMOTIVE: Wants John Knappenberger Separation Pact Okayed
GLOBAL POWER: Wants Court to Approve Plan Support Agreement

GLOBAL POWER: Exclusive Plan-Filing Period Extended to Oct. 24
HOST HOTELS: Fitch Lifts Issuer Default Rating to BB+ from BB
LIBBEY INC: Paying US$0.025 Per Share Cash Dividend on Nov. 13
METROFINANCIERA SA: Issuing US$90 Million Mortgage-Backed Bonds
PARKER DRILLING: Schedules Earnings Call on November 7

RYERSON INC: Shareholders Okay Merger Deal with Platinum Equity
SPANSION INC: Posts Lower Operating Loss for Third Quarter
TIMKEN COMPANY: Investing US$6MM in Industrial Bearing Services
UNITED RENTALS: Unit Commences Cash Tender Offers for Sr. Notes


N I C A R A G U A

* NICARAGUA: Delegate Visits Honduras for Bilateral Talks


P E R U

LEVI STRAUSS: S&P Rates US$750-Million Credit Facility at BB


P U E R T O   R I C O

ADELPHIA COMMUNICATIONS: Wants to Appeal Lucent Claim Ruling
GLOBAL HOME: Files Joint Chapter 11 Plan & Disclosure Statement


V E N E Z U E L A

PETROLEOS DE VENEZUELA: To Sign Oil Accords with African PetroSA


                            - - - - -

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


CORAL SEA: Trustee Filing Individual Reports in Court on Monday
---------------------------------------------------------------
Ricardo Adrogue, the court-appointed trustee for Coral Sea
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. 22, 2007.

Mr. Adrogue verified creditors' proofs of claim until
Sept. 10, 2007.  He will submit a general report containing an
audit of Coral Sea's accounting and banking records in court on
Dec. 3, 2007.

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

The trustee can be reached at:

          Ricardo Adrogue
          Bouchard 468
          Buenos Aires, Argentina


EASTMAN KODAK: Names Mary Jane Hellyar as Exec. Vice President
--------------------------------------------------------------
Eastman Kodak Company's Board of Directors has elected Mary Jane
Hellyar as Executive Vice President and Jeffrey Hayzlett, as a
Vice President of the company, effective immediately.

Ms. Hellyar is President of Kodak's Film Products Group.  She
joined the company in 1982 as a research scientist in the Kodak
Research Laboratories and subsequently held a variety of
positions within R&D, Film Manufacturing, chemical process
development, and strategic planning functions.

In 1999, Ms. Hellyar was named general manager, Consumer Film
Business, and was elected a corporate vice president.  In
November 2004, she was named President, Display and Components
Group and in January 2005 was elected a senior vice president.
In September 2005, the company moved to four vertical businesses
and Ms. Hellyar became President, Film & Photofinishing Systems
Group, while also continuing responsibility for Kodak's Display
business.

In January 2007, Ms. Hellyar's business was renamed the Film
Products Group, reflecting its three core businesses:
Entertainment Imaging, Film Capture, and Aerial and Industrial
Markets.  At the same time she assumed the added responsibility
of President, Entertainment Imaging.

She received a BA in chemistry and mathematics from the College
of St. Catherine in St. Paul, Minnesota, MS and PhD degrees in
chemical engineering from Massachusetts Institute of Technology
(MIT) and an MBA in the Management of Technology from the Sloan
School at MIT.

Jeffrey Hayzlett is Chief Business Development Officer, a
position he assumed in September 2007.  He is responsible for
Corporate and Product Public Relations; Communications and
Public Affairs; Brand Management; Corporate Sponsorships, Market
Development and Corporate Relationships and Partnerships.

He joined Kodak in April 2006 as Chief Marketing Officer and
Vice President of the company's Graphic Communications Group
(GCG).

Prior to joining Kodak, he served as president and chief
executive officer of the Hayzlett Companies, Inc. His primary
business was Hayzlett & Associates, Inc., a business development
and public relations firm specializing in the graphic arts,
technology and communications industries.  Previously, Mr.
Hayzlett held senior management positions in strategic business
development and marketing at several companies, including
Cenveo, Webprint and Colorbus, Inc.

Mr. Hayzlett is currently a member of the board of directors of
the Business Marketing Association (BMA) and on the advisory
board of the CMO Council.  He is chairman of the Sales and
Marketing Executives International (SMEI) Foundation for
Marketing Education, and is a permanent trustee to the SMEI
Academy of Achievement Hall of Fame.  He is also a two-term past
chairman of SMEI.  Mr. Hayzlett remains a trustee of Pi Sigma
Epsilon National Education Foundation and chairman of the
Printing Industries Centres Insurance (UK), Ltd.

                     About Eastman Kodak

Headquartered in Rochester, New York, Eastman Kodak Co. (NYSE:
EK)-- http://www.kodak.com/-- develops, manufactures, and
markets digital and traditional imaging products, services, and
solutions to consumers, businesses, the graphic communications
market, the entertainment industry, professionals, healthcare
providers, and other customers.

The company has operations in Argentina, Chile, Denmark, Greece,
Jordan, Yemen, Australia, China among others.

As reported in the Troubled Company Reporter-Latin America on
Sept. 14, 2007, Standard & Poor's Ratings Services has affirmed
its 'B+' corporate credit rating on Eastman Kodak Co. and
removed the ratings from CreditWatch, where they had been placed
with negative implications on Aug. 2, 2006.  The outlook is
negative.


EDICIONES LATINOAMERICANAS: Claims Report Filing on Feb. 27
-----------------------------------------------------------
Benigno Ramon Fernandez, the court-appointed trustee for
Ediciones Latinoamericanas S.R.L.'s bankruptcy proceeding, will
present the validated claims as individual reports the National
Commercial Court of First Instance in Buenos Aires on
Feb. 27, 2008.

Mr. Fernandez verified creditors' proofs of claim on
Dec. 12, 2007.  He will submit a general report containing an
audit of Ediciones Latinoamericanas' accounting and banking
records will be submitted in court on April 9, 2008.

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

The debtor can be reached at:

         Ediciones Latinoamericanas S.R.L.
         San Juan 3928
         Buenos Aires, Argentina

The trustee can be reached at:

         Benigno Ramon Fernandez
         Vedia 1624
         Buenos Aires, Argentina


FENITECH SRL: Proofs of Claim Verification Deadline Is Dec. 5
-------------------------------------------------------------
Irma Susana Aguilera, the court-appointed trustee for Fenitech
S.R.L.'s bankruptcy proceeding, verifies creditors' proofs of
claim until Dec. 5, 2007.

Ms. Aguilera 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 Fenitech
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 Fenitech's accounting
and banking records will be submitted in court.

Infobae didn't state the reports submission deadlines.

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

The trustee can be reached at:

       Irma Susana Aguilera
       Luis Saenz Pena 1690
       Buenos Aires, Argentina


ALITALIA SPA: Baldassarre Group Eyes Three-Year Restructuring
-------------------------------------------------------------
The Antonio Baldassarre-led consortium has no plans to cut jobs
in Alitalia S.p.A. should it acquire the Italian government's
49% stake in the national carrier, Agenzia Giornalistica Italia
reports.

The consortium, composed of Engineering S.p.A., I Viaggi del
Ventaglio S.p.A., SAFNA, Aermar Srl, Mivtach shamir H Ltd. and
Reficere, plans to restore Alitalia's finances within two-to-
three years, AGI reports.

Mr. Baldassarre said the consortium, which will have a starting
capital of EUR1 billion to EUR1.5 billion, does not plan to
downscale Alitalia's operations in Milan Malpensa and Rome
Fiumicino airports, and instead increase routes, AGI adds.

Mr. Baldassare told Thomson Financial that the consortium plans
to launch long-haul routes to Africa and the Middle East as well
as maintain Alitalia's existing role, he said.  He expects
Alitalia to allow the possible buyers to perform diligence on
the company's books.

As reported in the TCR-Europe on Oct. 10, 2007, Alitalia decided
to open talks, through the financial advisor Citi and industrial
advisor Roland Berger, with:

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

                       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.


FORD MOTOR: Continues Low-Level Contract Talks with UAW
-------------------------------------------------------
Ford Motor Co. has resumed low-level talks with the United Auto
Workers union, but company sources said union leaders have not
yet set a date to resume formal negotiations on new national
contract, Bryce G. Hoffman of The Detroit News reports.

As reported in the Troubled Company Reporter on Oct. 11, 2007,
General Motors Corp. confirmed that its UAW-represented
employees have ratified the GM-UAW 2007 national labor
agreement.  On Oct. 15, 2007, the UAW Chrysler Council, which
includes local union leaders from Chrysler facilities throughout
the United States, voted overwhelmingly to recommend
ratification of a new tentative labor agreement with Chrysler
reached on Oct. 10, 2007.

Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F)
-- http://www.ford.com/-- manufactures or distributes
automobiles in 200 markets across six continents.  With about
260,000 employees and about 100 plants worldwide, the company's
core and affiliated automotive brands include Ford, Jaguar, Land
Rover, Lincoln, Mercury, Volvo, Aston Martin, and Mazda.  The
company provides financial services through Ford Motor Credit
Company.

The company has operations in Japan in the Asia Pacific region.
In Europe, the company maintains a presence in Sweden, and the
United Kingdom.  The company also distributes its brands in
various Latin American regions, including Argentina and Brazil.

                        *     *     *

As reported in the Troubled Company Reporter on July 30, 2007,
Moody's Investors Service said that the performance of Ford
Motor Company's global automotive operations for the second
quarter of 2007 was significantly stronger than the previous
year and better than street expectations.

However, Moody's explained that the company continues to face
significant competitive and financial challenges, and the rating
agency expects that Ford's credit metrics and rate of cash
consumption will likely remain consistent with no higher than a
B3 corporate family rating level into 2008.

According to the rating agency, Ford's corporate family rating
is currently a B3 with a negative outlook.  The rating is
pressured by the shift in consumer preference from high margin
trucks and SUVs, and by the need for a new 2007 UAW contract
that provides meaningful relief from high health care costs and
burdensome work rules, Moody's relates.

In June 2007, S&P raised the Issue Rating on Ford's senior
secured credit facilities to B+ from B.


GEMIKA SA: Trustee Filing General Report in Court on Oct. 22
------------------------------------------------------------
Carlos Alberto Yacovino, the court-appointed trustee for Gemika
S.A.'s reorganization proceeding, will submit a general report
containing an audit of the firm's accounting and banking records
in the National Commercial Court of First Instance in Buenos
Aires on Oct. 22, 2007.

Mr. Yacovino verified creditors' proofs of claim on
July 20, 2007.  He will present the validated claims in court as
individual reports on Sept. 5, 2007.

The informative assembly will be held on March 26, 2008.
Creditors will vote to ratify the completed settlement plan
during the assembly.

The debtor can be reached at:

         Gemika S.A.
         Diag. 79 Numero 811
         La Plata, Buenos Aires
         Argentina

The trustee can be reached at:

         Carlos Alberto Yacovino
         Diag. 74 Numero 1605 Esq. 11
         La Plata, Buenos Aires
         Argentina


ITAL GRAF: Proofs of Claim Filing Deadline Is Dec. 21
-----------------------------------------------------
Jose E. Obes, the court-appointed trustee for Ital Graf SRL's
bankruptcy proceeding, verifies creditors' proofs of claim until
Dec. 21, 2007.

Mr. Obes will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 1 in Buenos Aires, with the assistance of Clerk
No. 1, 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 Ital Graf 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 Ital Graf's
accounting and banking records will be submitted in court.

La Nacion didn't state the reports submission deadlines.

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

The debtor can be reached at:

       Ital Graf SRL
       Avenida Garay 2354
       Buenos Aires, Argentina

The trustee can be reached at:

       Jose E. Obes
       Lavalle 1619
       Buenos Aires, Argentina


KLUJ GRISOLIA: Trustee Filing General Report in Court on Oct. 22
----------------------------------------------------------------
Luis Emilio Felli, the court-appointed trustee for Kluj Grisolia
S.A.'s bankruptcy proceeding, will submit a general report
containing an audit of the firm's accounting and banking records
in the National Commercial Court of First Instance in La Plata,
Buenos Aires, on Oct. 22, 2007.

Mr. Felli verified creditors' proofs of claim until
Aug. 14, 2007.  He presented the validated claims in court as
individual reports on Sept. 20, 2007.

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

The debtor can be reached at:

          Kluj Grisolia S.A.
          Calle 511 Numero 1160, La Plata
          Buenos Aires, Argentina

The trustee can be reached at:

          Luis Emilio Felli
          Calle 49 Numero 365, La Plata
          Buenos Aires, Argentina


RED HAT: S&P Affirms B+ Corp. Credit Rating w/ Positive Outlook
---------------------------------------------------------------
Standard & Poor's Ratings Services has revised its outlook on
Red Hat Inc. to positive from stable and affirmed the ratings,
including the 'B+' corporate credit rating.  The outlook
revision reflects Red Hat's consistent growth in revenues and
operating earnings and improving financial profile.

"The ratings reflect Red Hat's narrow business profile, modest
scale relative to other rated software companies, rapid
technology evolution, and highly competitive industry
conditions," said S&P's credit analyst Molly Toll-Reed.  "These
are partially offset by some barriers to entry provided by the
large number of independent software and hardware vendors that
certify their products to work with Red Hat, and liquidity and
cash flow that are strong for the rating level."

Red Hat provides operating and middleware software and related
services predominantly to large enterprise customers.

S&P expects to see financial leverage multiples continue to
improve over the intermediate term, driven by EBITDA growth.
Total adjusted debt to EBITDA was 4.7 as of August 2007,
compared with 6 in the prior-year period. While financial
leverage is still relatively high, free cash flow as a percent
of debt is strong for the rating at more than 25%, reflecting
the up-front payment characteristics of Red Hat's subscription
model.

Headquartered in Raleigh, North Carolina Red Hat, Inc. --
http://www.redhat.com/-- is an open source and Linux provider.
Red Hat provides operating system software along with
middleware, applications and management solutions.  Red Hat also
offers support, training, and consulting services to its
customers worldwide and through top-tier partnerships.

The company has offices in Singapore, Germany, and Argentina,
among others.


ROCHI FARM: Trustee Verifies Proofs of Claim Until Feb. 13
----------------------------------------------------------
Emilio Gallego, the court-appointed trustee for Rochi Farm SRL's
reorganization proceeding, verifies creditors' proofs of claim
until Feb. 13, 2008.

Mr. Gallego will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 19 in Buenos Aires, with the assistance of Clerk
No. 37, 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 Rochi Farm 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 Rochi Farm's
accounting and banking records will be submitted in court.

La Nacion didn't state the reports submission deadlines.

The informative assembly will be held on Oct. 29, 2008.
Creditors will vote to ratify the completed settlement plan
during the assembly.

The debtor can be reached at:

       Rochi Farm SRL
       Cabildo 3111
       Buenos Aires, Argentina

The trustee can be reached at:

       Emilio Gallego
       Esmeralda 1066
       Buenos Aires, Argentina


SANCHEZ CONSTRUCCIONES: Claims Verification Period Ends Nov. 15
---------------------------------------------------------------
Juan Jose O. Castronuovo, the court-appointed trustee for
Sanchez Construcciones S.R.L.'s bankruptcy proceeding, verifies
creditors' proofs of claim until Nov. 15, 2007.

Mr. Castronuovo will present the validated claims in court as
individual reports on Feb. 4, 2008.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the
trustee's opinion, and the objections and challenges that will
be raised by Sanchez Construcciones 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 Sanchez
Construcciones' accounting and banking records will be submitted
in court on March 18, 2008.

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

The debtor can be reached at:

       Sanchez Construcciones S.R.L.
       Uruguay 390
       Buenos Aires, Argentina

The trustee can be reached at:

       Juan Jose O. Castronuovo
       Cerrito 1116
       Buenos Aires, Argentina


TRANCO LARGO: Trustee Filing General Report in Court on Oct. 22
---------------------------------------------------------------
Monica Olga Rajo, the court-appointed trustee for Tranco Largo
S.A.C.I.F.I. y A.'s bankruptcy proceeding, will submit a general
report containing an audit of the firm's accounting and banking
records in the National Commercial Court of First Instance in
Buenos Aires on Oct. 22, 2007.

Ms. Rajo verified creditors' proofs of claim until
July 11, 2007.  She will present the validated claims in court
as individual reports on Sept. 7, 2007.

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

The debtor can be reached at:

          Tranco Largo S.A.C.I.F.I. y A.
          Quinteros 909
          Buenos Aires, Argentina

The trustee can be reached at:

          Monica Olga Rajo
          Viamonte 2359
          Buenos Aires, Argentina


* ARGENTINA: Obtains US$230-Million Healthcare Financing
--------------------------------------------------------
The Inter-American Development Bank has approved a US$230
million loan to Argentina for a program to improve
implementation of its primary health care strategy.

This initiative will strengthen the operation of public health
service networks structured around the strategy of primary
health care.  It will develop a prevention and treatment model
for chronic diseases based in the provincial primary healthcare
systems; and it will strengthen the treatment capabilities of
the primary health care services, consolidating programs for
supply management and training of health care workers targeted
to health promotion and disease prevention.

"The program will also strengthen the stewardship role of the
federal and provincial ministries of health by introducing a
management-by-results monitoring and evaluation system for the
networks' operation," said IDB Team Leader Hugo Florez-Timoran.
"The success of these efforts depends on bringing primary care
closer to the public in its role as gateway to the system."

"Funds will be provided to finance technical assistance for the
formulation and implementation of provincial projects that
incorporate management of chronic diseases, prioritizing
hypertension and type 2 diabetes, as a proxy for strengthening
service networks structured around the primary health care
strategy," added Mr. Florez-Timoran.  "Methodological guidelines
and indicators will be strictly followed.  Each province is
expected to define the most pertinent activities to build up
their networks."

Resources will also be allocated to consolidate provision of
inputs and essential medicines and training for health
professionals in the rational use of medicines under the
Remediar program, noted for its high standards of efficiency and
transparency in assuring access to drugs at the first level of
care in the public healthcare system.  Additionally, training to
health care workers will be provided under the Community Doctors
Program to reorient their skills towards primary health care.

The Ministry of Health of Argentina will carry out the project.

The loan is for a 25-year term, with a five and a half year
grace period and an adjustable interest rate.  Local counterpart
funds total US$57.5 million.

                        *     *     *

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




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B A H A M A S
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HARRAH'S ENTERTAINMENT: NJ Casino Agency Approves Apollo Merger
---------------------------------------------------------------
Harrah's Entertainment Inc. has received approval from the New
Jersey Casino Control Commission for the proposed acquisition of
Harrah's by affiliates of Apollo Management, L.P. and TPG
Capital.  The transaction remains subject to approval by other
jurisdictions in which Harrah's subsidiaries operate and other
conditions to closing set forth in the agreement and plan of
merger entered into on Dec. 19, 2006.

"We're pleased by the review and approval of the New Jersey
Casino Control Commission for the proposed acquisition of
Harrah's Entertainment," said Gary Loveman, chairman, Chief
Executive Officer and president of Harrah's Entertainment, Inc.
"This transaction with Apollo Management and TPG Capital allows
Harrah's to continue its emphasis on growth and in providing the
best guest experience throughout our network of gaming
destinations.  The New Jersey marketplace is dynamic and vitally
important to Harrah's future success."

Headquartered in Las Vegas, Nevada, Harrah's Entertainment, Inc.
(NYSE: HET) -- http://www.harrahs.com/-- is a gaming
corporation that owns and operates casinos, hotels, and five
golf courses under several brands on four continents.  The
company's properties operate primarily under the Harrah's,
Caesars and Horseshoe brand names; Harrah's also owns the London
Clubs International family of casinos.  In January, it signed a
joint venture agreement with Baha Mar Resorts Ltd. to operate a
resort in Bahamas.

                        *     *     *

As reported in the Troubled Company Reporter on Feb. 16, 2007,
Fitch Ratings may downgrade Harrah's Entertainment Inc.'s Issuer
Default Rating into the 'B' category from its current 'BB+'
rating based on the planned capital structure for its leveraged
buyout by Apollo Management and Texas Pacific Group, which was
outlined in its preliminary proxy statement.


METROPOLITAN BANK: Lower Tier 2 Notes Twice Oversubscribed
----------------------------------------------------------
Metropolitan Bank & Trust Co.'s PHP5-billion offering of lower
Tier 2 peso-denominated notes was twice oversubscribed, ABS-CBN
News reports.

Metrobank has received applications valuing more than twice the
amount issued, the bank's executive vice president, Fernand
Antonio Tansingco, revealed.

The bank can choose to increase the issuance up to PHP10 billion
as approved by the Bangko Sentral ng Pilipinas, the report
recounts.

Metropolitan Bank and Trust Company --
http://www.metrobank.com.ph/-- is the flagship company of the
Metrobank Group.  Metrobank provides a host of deposit, savings,
and loan products as well as electronic banking services like
internet banking, mobile banking, and phone banking, as well as
its huge ATM network.  Metrobank is also the leading provider of
trade finance in the country, and its overseas branch network
has enabled it to service the fund remittances of Filipino
overseas contract workers.

The bank has 583 local branches and 35 international branches
and offices located in Taiwan, China, Japan, Korea, Guam, United
States, Hong Kong, Singapore, Bahamas, and in Europe.

                        *     *     *

As reported on Nov. 6, 2006, that Moody's Investors Service
revised the outlook of Metropolitan Bank & Trust Co.'s foreign
currency long-term deposit rating of B1 and foreign currency
subordinated debt rating of Ba3 from negative to stable.

The outlooks for Metropolitan Bank's foreign currency Not-Prime
short-term deposit rating and bank financial strength rating of
D remain stable.

On Sept. 21, 2006, Fitch Ratings upgraded Metrobank's Individual
rating to 'D' from 'D/E'.  All the bank's other ratings were
affirmed:

   * Long-term Issuer Default rating 'BB-' -- with a stable
     Outlook,

   * Short-term rating 'B,'

   * Support rating '3.

On March 3, 2006, Standard and Poor's Rating Service assigned a
CCC+ rating on Metrobank's US$125-million non-cumulative capital
securities, whereas Moody's Investors Service Rating Agency
issued a B- rating on the same capital instruments.




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


ANDREW CORP: Debt Refinancing Prompts S&P to Affirm Ratings
-----------------------------------------------------------
Standard & Poor's Ratings Services has affirmed its ratings on
CommScope Inc. and Andrew Corp. and removed them from
CreditWatch, where they were placed on June 27, 2007, with
negative implications.  S&P also affirmed the 'BB-' corporate
credit and 'B' subordinated debt ratings for both companies.
The ratings on Andrew will be withdrawn following its
acquisition and debt refinancing.  The outlook is stable.

At the same time, S&P assigned its bank loan and recovery
ratings to CommScope's US$2.5 billion first-lien credit
facilities.  The US$2.1 billion term loan and US$400 million
revolving credit facility are rated 'BB-', with a recovery
rating of '3', indicating the expectation for meaningful (50%-
70%) recovery in the event of a payment default.  Proceeds from
the term loan will be used to partially fund its US$2.6 billion
acquisition of Andrew.

"The ratings on CommScope after the acquisition reflect an
increase in leverage, a short operating track record at current
profitability levels, and integration challenges," said S&P's
credit analyst Lucy Patricola.  "These are offset partially by
solid market positions with major telecommunications providers
and good cash flow."

CommScope's market position in coaxial cable and environmentally
secure cabinets used by wireline carriers complements Andrew's
key business that provides antennae used in wireless base
stations.

CommScope's financing of the acquisition increases leverage
substantially from recent levels of about 1.5.  Based on the
following assumptions, pro forma debt to EBITDA is about 4.0,
within expectations for the rating.

Headquartered in Westchester, Illinois, Andrew Corporation
(NASDAQ: ANDW) -- http://www.andrew.com/-- designs,
manufactures and delivers and essential equipment and solutions
for the global communications infrastructure market.  The
company serves operators and original equipment manufacturers
from facilities in 35 countries including China, India, Italy,
Czech Republic, Argentina, Bahamas, Belize, Barbados, Bermuda
and Brazil.




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


KOCH TREASURY: Holding Final Shareholders Meeting on Nov. 19
------------------------------------------------------------
Koch Treasury Investments, Ltd.'s final general meeting is
scheduled on Nov. 19, 2007, at 11:00 a.m., at:

       Attride-Stirling & Woloniecki
       Crawford House, 50 Cedar Avenue
       Hamilton HM 11, Bermuda

These matters will be taken up during the meeting:

    -- receiving an account showing the manner in which the
       winding-up of the company has been conducted and its
       property disposed of and hearing any explanation that
       may be given by the liquidator;

    -- determination by resolution the manner in which the
       books, accounts and documents of the company and of the
       liquidator shall be disposed; and

    -- passing of a resolution dissolving the company.


LANNER RE: Proofs of Claim Filing Deadline Is Today
---------------------------------------------------
Lanner Re Limited's creditors are given until Oct. 19, 2007, to
prove their claims to Robin J. Mayor, the company's liquidator,
or be excluded from receiving any distribution or payment.

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

Lanner Re's shareholders agreed on Oct. 5, 2007, to place the
company into voluntary liquidation under Bermuda's Companies Act
1981.

The liquidator can be reached at:

         Robin J. Mayor
         Messrs. Conyers Dill & Pearman
         Clarendon House, 2 Church Street
         Hamilton, HM 11, Bermuda


LANNER RE: Sets Final Shareholders Meeting for Nov. 15
------------------------------------------------------
Lanner Re Limited will hold its final shareholders meeting on
Nov. 15, 2007, at 9:30 a.m., at:

         Messrs. Conyers Dill & Pearman
         Clarendon House, Church Street
         Hamilton, Bermuda

These matters will be taken up during the meeting:

    -- receiving an account showing the manner in which the
       winding-up of the company has been conducted and its
       property disposed of and hearing any explanation that
       may be given by the liquidator;

    -- determination by resolution the manner in which the
       books, accounts and documents of the company and of the
       liquidator shall be disposed; and

    -- passing of a resolution dissolving the company.


ODYSSEY TRADING: Sets Final Shareholders Meeting for Nov. 14
------------------------------------------------------------
Odyssey Trading Company Limited's final shareholders meeting is
scheduled on Nov. 14, 2007, at 9:30 a.m., at:

       Messrs. Conyers Dill & Pearman
       Clarendon House, Church Street
       Hamilton, Bermuda

These matters will be taken up during the meeting:

    -- receiving an account showing the manner in which the
       winding-up of the company has been conducted and its
       property disposed of and hearing any explanation that
       may be given by the liquidator;

    -- determination by resolution the manner in which the
       books, accounts and documents of the company and of the
       liquidator shall be disposed; and

    -- passing of a resolution dissolving the company.


ROYALE RESORTS: Will Hold Final Shareholders Meeting on Nov. 14
---------------------------------------------------------------
Royale Resorts International Limited's final shareholders
meeting is scheduled on Nov. 14, 2007, at 9:30 a.m., at:

       Messrs. Conyers Dill & Pearman
       Clarendon House, Church Street
       Hamilton, Bermuda

These matters will be taken up during the meeting:

    -- receiving an account showing the manner in which the
       winding-up of the company has been conducted and its
       property disposed of and hearing any explanation that
       may be given by the liquidator;

    -- determination by resolution the manner in which the
       books, accounts and documents of the company and of the
       liquidator shall be disposed; and

    -- passing of a resolution dissolving the company.




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


AGILENT TECHNOLOGIES: Inks Marketing Agreement with BioTrove
------------------------------------------------------------
Agilent Technologies Inc. and BioTrove Inc. have signed an
agreement to co-market the Agilent 6410 Triple Quadrupole Mass
Spectrometer with BioTrove's RapidFire high-throughput sample
preparation systems.  The two systems together provide an
integrated solution for ultra-high-throughput preparation and
analysis of in vitro biological assays in pharmaceutical drug
research.

"This relationship enables clients to integrate the fastest
sample-preparation system on the market with the strength of
leading-edge analytical mass spectrometry," said Guenter Nill,
Agilent general manager, pharmaceutical and biotech market.  "It
significantly benefits pharmaceutical companies that want to
spend less time and money discovering new leads and developing
more effective medicines."

Using innovative microfluidic technology for sample preparation
and analysis faster than eight seconds per sample, RapidFire
Mass Spectrometry eliminates bottlenecks created by traditional
mass spectrometry throughput.  It has been used by 10 of the top
15 pharmaceutical companies as an established drug-discovery
tool for more than four years.  RF-MS is routinely used in
applications including the high-throughput screening of
previously intractable drug targets, cytochrome P450 inhibition
and other pre-clinical ADME assays, as well as in directed
evolution studies.

The Agilent 6410 Triple Quadrupole LC/MS establishes a new
standard for value in a triple quadrupole mass spectrometer,
delivering outstanding sensitivity and great ease of use along
with traditional Agilent reliability.  Femtogram-level
sensitivity and rugged, reliable performance make this the
instrument of choice for drug discovery and development.

"The Agilent-BioTrove collaboration provides an improved,
integrated high-throughput screening solution, enabling
biopharmaceutical companies to better use their talent, time and
targets," said Al Luderer, Ph.D., president and CEO, BioTrove.
"BioTrove's expertise in sample preparation for high-throughput
screening and early ADME is a natural complement to Agilent's
strength in analytical mass spectrometry.  Together, we are
enabling walk-away analysis of lead compounds against valuable
targets that would be otherwise impossible to screen, helping
biopharma clients meet the challenge of accelerating drug
discovery research."

The combined solutions can be seen at the following events:

   -- Chemical and Pharmaceutical Structure Analysis Conference
      in Langhorne, Pa., on Oct. 22-25; and

   -- American Association of Pharmaceutical Scientists
      Conference in San Diego on Nov. 11-15.

                     About BioTrove Inc.

BioTrove Inc. -- http://www.biotrove.com/-- offers two
innovative technology platforms: RapidFire(TM), which enables
the acceleration of drug discovery and pipeline decisions, and
OpenArray(TM), which advances genomic research in a wide range
of life science fields, including agriculture, disease research,
bio-defense, and public health.  With more than half of the
world's ten largest pharmaceutical companies as clients, and
partnerships with prestigious research and public health centers
around the world, BioTrove's products and services ensure that
an industry committed to accuracy and speed can meet business
goals.

RapidFire(TM) Mass Spectrometry (RFMS) uses an innovative
microfluidic technology to facilitate analysis at faster than 10
seconds per sample, eliminating the bottleneck created by
traditional mass spectrometry throughput.  RFMS is routinely
used in many applications including the high-throughput
screening of previously intractable drug targets, cytochrome
P450 inhibition and other ADME assays and directed evolution
studies.

The OpenArray(TM) Platform enables genomics researchers to
generate SNP and real time qPCR data in the hundreds of
thousands of data points per day, significantly increasing the
number of samples analyzed while significantly decreasing the
time and cost required.  The flexible format and nanoliter scale
of the OpenArray(TM) system allows for easy adjustment of sample
and assay numbers, achieving economical, high-throughput
genomics.

                  About Agilent Technologies

Agilent Technologies Inc. (NYSE: A) -- http://www.agilent.com/
-- is the world's premier measurement company and a technology
leader in communications, electronics, life sciences and
chemical analysis.  The company's 19,000 employees serve
customers in more than 110 countries.

The company has operations in India, Argentina, Puerto Rico,
Bolivia, Paraguay, Venezuela, and Luxembourg, among others.

                        *     *     *

Agilent Technologies Inc. carries Moody's Investors Service
'Ba1' corporate family rating.




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


BANCO NACIONAL: Okays BRL549-Million Indirect Loan for Light
------------------------------------------------------------
Banco Nacional de Desenvolvimento Economico e Social said in a
statement that it has authorized a BRL549-million indirect loan
for power group Light SA, fka Light - Servicos de Electricidade
SA.

Business News Americas relates that Light will use the loan for
its investment plan next year, which includes the expansion and
upgrade of generation and distribution systems in Rio de
Janeiro.

Banco Nacional told BNamericas that a consortium of banks headed
by Brazil's Unibanco will borrow the money from Banco Nacional
and disburse it to Light.

According to BNamericas, the BRL549-million loan accounts for
49% of Light's 2008 investment plan.

Banco Nacional explained to BNamericas that investments will
cover:

          -- efforts to prevent energy theft,
          -- measures to prevent losses, and
          -- construction of 37-kilometer in transmission lines.

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

                        *     *     *

Banco Nacional currently carries a Ba2 foreign long-term bank
deposit rating from Moody's, and a BB+ long-term foreign issuer
credit rating from Standards and Poor's.  The ratings were
assigned in August and May 2007, respectively.


BANCO NACIONAL: Funding Ethanol Program with BRL3.2-Billion Loan
----------------------------------------------------------------
Banco Nacional de Desenvolvimento Economico e Social's vice
president Armando Mariante told Brazilian news service Agencia
Brasil that the bank's loan to the ethanol sector will increase
58% to BRL3.2 billion this year, compared to last year.

Banco Nacional finances engineering and construction of ethanol
plants, Business News Americas relates.

BNamericas notes that Banco Nacional will provide financing for
ethanol projects that need total investments of BRL11.3 billion.
Banco Nacional hasn't set any limit on amount it is willing to
loan the sector.

Mr. Mariante commented to BNamericas, "If there is demand, there
will be enough money."

Banco Nacional's infrastructure manager Ricardo Cunha da Costa
told BNamericas that the bank's loans for the biodiesel sector
will total BRL466 million in 2007.  Banco Nacional has 10
biodiesel projects in its portfolio that need BRL602 million in
total investment.

Most of the biodiesel plants funded by Banco Nacional will be
operational in 2008, BNamericas states, citing Mr. Cunha da
Costa.

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

                        *     *     *

Banco Nacional currently carries a Ba2 foreign long-term bank
deposit rating from Moody's, and a BB+ long-term foreign issuer
credit rating from Standards and Poor's.  The ratings were
assigned in August and May 2007, respectively.


BRASIL TELECOM: Concludes Telecom Italia Indirect Stake Buy
-----------------------------------------------------------
Brasil Telecom said in a statement that its key shareholders
have completed the US$515-million purchase of an indirect stake
in the group from Telecom Italia.

Business News Americas relates that Brasil Telecom's key
shareholders include:

          -- US financial giant Citigroup,
          -- Brazilian banking group Opportunity, and
          -- Brazil's three largest pension funds:

             * Previ,
             * Petros, and
             * Funcef.

According to BNamericas, the shareholders agreed to acquire
Telecom Italia's 38% stake in Brasil Telecom's parent firm
Solpart on July 19, 2007.

Techold Participacoes, one of Brasil Telecom's holding firms,
now has a 57% stake in Solpart, which in turn has a 53.6% stake
in Brasil Telecom.  Citigroup has a 55.5% stake in Techold,
BNamericas states.

                       About Citigroup

Citigroup Inc. is a diversified global financial services
holding company whose businesses provide a range of financial
services to consumer and corporate customers.  The company is a
bank holding company.  Its segments include Global Consumer
Group, Corporate and Investment Banking, Global Wealth
Management and Alternative Investments.  Citigroup has more than
200 million customer accounts and does business in more than 100
countries.

                     About Brasil Telecom

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.


COMMSCOPE INC: S&P Affirms BB- Corporate Credit Rating
------------------------------------------------------
Standard & Poor's Ratings Services has affirmed its ratings on
CommScope Inc. and Andrew Corp. and removed them from
CreditWatch, where they were placed on June 27, 2007, with
negative implications.  S&P also affirmed the 'BB-' corporate
credit and 'B' subordinated debt ratings for both companies.
The ratings on Andrew will be withdrawn following its
acquisition and debt refinancing.  The outlook is stable.

At the same time, S&P assigned its bank loan and recovery
ratings to CommScope's US$2.5 billion first-lien credit
facilities.  The US$2.1 billion term loan and US$400 million
revolving credit facility are rated 'BB-', with a recovery
rating of '3', indicating the expectation for meaningful (50%-
70%) recovery in the event of a payment default.  Proceeds from
the term loan will be used to partially fund its US$2.6 billion
acquisition of Andrew.

"The ratings on CommScope after the acquisition reflect an
increase in leverage, a short operating track record at current
profitability levels, and integration challenges," said S&P's
credit analyst Lucy Patricola.  "These are offset partially by
solid market positions with major telecommunications providers
and good cash flow."

CommScope's market position in coaxial cable and environmentally
secure cabinets used by wireline carriers complements Andrew's
key business that provides antennae used in wireless base
stations.

CommScope's financing of the acquisition increases leverage
substantially from recent levels of about 1.5.  Based on the
following assumptions, pro forma debt to EBITDA is about 4.0,
within expectations for the rating.

Based in Hickory, North Carolina, CommScope, Inc. (NYSE:CTV)
-- http://www.commscope.com/-- designs and manufactures "last
mile" cable and connectivity solutions for communication
networks.  Through its SYSTIMAX(R) Solutions(TM) and Uniprise(R)
Solutions brands CommScope is the global leader in structured
cabling systems for business enterprise applications.  It is
also the world's largest manufacturer of coaxial cable for
Hybrid Fiber Coaxial applications.  Backed by strong research
and development, CommScope combines technical expertise and
proprietary technology with global manufacturing capability to
provide customers with high-performance wired or wireless
cabling solutions.

CommScope has facilities in Brazil, Australia, China and
Ireland.


COMPANHIA PARANAENSE: Power Sales Rise 6.0% in First Nine Months
----------------------------------------------------------------
Companhia Paranaense de Energia said in a statement that its
power sales have increased 6.0% to 15.1 terra watt-hours in the
first nine months of 2007, compared to the same period last
year.

Business News Americas relates that power sales to industrial
customers rose 3.5% to 4.66 terra watt-hours.

Companhia Paranaense told BNamericas that its sales to
commercial and residential clients increased 9.3% to 2.76 terra
watt-hours and 6.8% to 3.82 terra watt-hours respectively.
Sales in rural areas grew 5.1% to 1.13 terra watt-hours.

BNamericas notes that sales to residential customers increased
due to:

          -- warmer temperatures,
          -- increased purchasing power in Parana, and
          -- a recovery in the industrial market due to
             agricultural production.

Sales to residential, industrial, commercial and rural customers
were 25.8%, 38.6%, 18.7% and 7.6% of total sales respectively,
BNamericas states.

Headquartered in Parana, Brazil, COPEL aka Companhia Paranaense
de Energia SA -- http://www.copel.com/-- transmits and
distributes electricity to more than 3 million customers in the
state of Parana and has a generating capacity of nearly 4,600
MW, primarily from hydroelectric plants.  COPEL also offers
telecommunications, natural gas, engineering, and water and
sanitation services.  The company restructured its utility
operations in 2001 into separate generation, transmission, and
distribution subsidiaries to prepare for full privatization,
which has been indefinitely postponed.  In response, COPEL is
re-evaluating its corporate structure.  The government of Parana
controls about 59% of COPEL.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Dec. 13, 2006, Moody's America Latina upgraded the corporate
family rating of Companhia Paranaense de Energia aka Copel to
Ba2 from Ba3 on its global scale and to Aa2.br from A3.br on its
Brazilian national scale.  The rating outlook was stable.  This
rating action concludes the review process initiated on
July 26, 2006.

Moody's upgraded these ratings:

   -- Corporate Family Rating: to Ba2 from Ba3 (Global Local
      Currency) and to Aa2.br from A3.br (Brazilian National
      Scale);

   -- BRL500 million Senior Unsecured Guaranteed Debentures due
      2007: to Ba2 from Ba3 (Global Local Currency) and to
      Aa2.br from A3.br (Brazilian National Scale); and

   -- BRL400 million Senior Secured Guaranteed Debentures due
      2009: to Ba1 from Ba2 (Global Local Currency) and to
      Aa1.br from A1.br (Brazilian National Scale).


COMPANHIA SIDERURGICA: Deutsche Bank Ups Shares' Rating to Buy
--------------------------------------------------------------
Deutsche Bank has raised its rating for Companhia Siderurgica
Nacional's shares to "buy" from "hold," Business News Americas
reports.

As reported in the Troubled Company Reporter-Latin America on
July 26, 2007, Deutsche Bank reaffirmed its hold rating on
Companhia Siderurgica's shares.

BNamericas relates that Deutsche Bank also assigned a US$90
target price for Companhia Siderurgica's shares.  Deutsche Bank
said in a report that Companhia Siderurgica is its top pick
steel stock in the Americas, as it is the biggest beneficiary of
increasing iron ore and steel prices.

Deutsche Bank told BNamericas that Companhia Siderurgica should
also benefit from expansions underway at its Casa de Pedra iron
ore mine in Minas Gerais.

"CSN's [Companhia Siderurgica] attractiveness is centered on its
market position, value-added product mix and raw material
integration.  Deutsche Bank is now forecasting increases of 25%
for benchmark iron ore and coal costs in 2008 and further
increases [of 10%] for iron ore in 2009," Deutsche Bank said in
its report.

                    About Deutsche Bank

Deutsche Bank AG offers investment, financial and related
products and services to private individuals, corporate entities
and institutional clients around the world.  It has three
divisions.  Corporate and Investment Bank comprises Corporate
Banking and Securities and Global Transaction Banking that
serves large and medium-sized corporations, financial
institutions, public sector and multinational organizations.
Private Clients and Asset Management comprises Asset and Wealth
Management and Private and Business Clients and serves retail
and small corporate, as well as affluent and wealthy clients and
provides asset management services to retail and institutional
clients.  Corporate Investments manages the majority of Deutsche
Bank's alternative assets portfolio and other debt and equity
positions.

                  About Companhia Siderurgica

Companhia Siderurgica Nacional is one of the lowest-cost steel
producers in the world, which is a result of its access to
proprietary, high-quality iron ore (at the Casa de Pedra mine);
self-sufficiency in energy; streamlined facilities; and
logistics advantages.  This is in addition to the group's strong
market position in the fairly concentrated steel industry in
Brazil.

                        *     *     *

On Jan. 26, 2006, Standard and Poor's Rating Services assigned a
'BB' corporate credit rating on Brazilian flat carbon steelmaker
Companhia Siderurgica Nacional.

The 'BB' corporate credit rating on CSN reflects the company's
exposure to volatile demand and price cycles, increasing
competition in its home and predominant market of Brazil,
aggressive dividend policy and capital investment plan, and
sizable gross-debt position.  These risks are partly offset by
CSN's privileged cost position and sound operating profile,
favorable market position in Brazil, strong export capabilities
to offset occasional domestic demand sluggishness, and
increasing business diversification.


FIAT SPA: Finance Unit to Repay EUR123.4 Million in Bonds
---------------------------------------------------------
Fiat S.p.A.'s Fiat Finance & Trade Ltd. S.A., a company
organized under the laws of Luxembourg, will repay
EUR123,400,000 equal to the first amortization installment of
the outstanding "Fiat Step Up Amortizing 2001 - 2011" bonds of
EUR617,000,000 on Nov. 7, 2007.

The repayment is in compliance with the provisions of the
instructions to the rules of the markets organized and managed
by Borsa Italiana S.p.A.

In accordance with the conditions of the bond, the repayment
will reduce by one-fifth the face value of each outstanding
bond.  As a result, the face value will then amount to EUR800
each for a total residual amount of EUR493,600,000.

Consequently, the smallest denomination of each bond will thus
be reduced from EUR1,000 to EUR800.

                        About Fiat SpA

Headquartered in Turin, Italy, Fiat S.p.A. --
http://www.fiatgroup.com/-- manufactures and sells automobiles,
commercial vehicles, and agricultural and construction
equipment.  Fiat's creditors include Banca Intesa, Banca Monte
dei Paschi di Siena, Banca Nazionale del Lavoro, Capitalia,
Sanpaolo IMI, and UniCredito Italiano.

Fiat operates in Argentina, Australia, Austria, Belgium, Brazil,
Bulgaria, China, Czech Republic, Denmark, France, Germany,
Greece, Hungary, India, Ireland, Italy, Japan, Lituania,
Netherlands, Poland, Portugal, Romania, Russia, Singapore,
Spain, among others.

                        *     *     *

As reported on Aug. 24, 2007, Moody's Investors Service upgraded
to Ba1 from Ba2 Fiat SpA's Corporate Family Rating, and the
group's other long-term senior unsecured ratings.

At the same time, the positive outlook on all long-term ratings
was maintained.  The short term Not Prime rating remains
unchanged.


FIAT SPA: Inks Cooperation Deal with Russia's Avtovaz
-----------------------------------------------------
Fiat S.p.A. and JSC Avtovaz signed a memorandum of understanding
as the basis for the establishment of cooperation initiatives
aimed at supporting the expansion of Avtovaz, in the area of
passenger cars encompassing engineering and technological
processes, development, manufacturing, product sourcing, engines
and other components.

Fiat's involvement in the development of the Fiat brand in
Russia based on prior agreements with other parties continues to
be strong and is not affected by this MoU.

Following the MoU, joint teams would be set up by the two groups
to determine the feasibility and specificity of the nature of
cooperation, both in the short and long term.  The two companies
expect to sign definitive agreements in the course of the coming
months.

"A cooperation with AUTOVAZ represents a significant step
forward in our industrial strategy of targeted alliances.  It is
our view that Autovaz will re-emerge as a strong automotive
player in a market that is showing significant growth potential.
And we are delighted to be able to assist and participate in
this process," Sergio Marchionne, Fiat Group's CEO, disclosed.

"The memorandum signed is the most important stage in the
Russian-European cooperation in the sphere of automobile
production.  Now we are entering a brand new level of relations
with the Fiat Corporation, which played the most decisive role
in the construction of VAZ in the 60s of the last century.  Fiat
helped to design the most popular car in Russia which won the
hearts and souls of our automobilists," Sergey Chemezov chairman
of AvtoVAZ board of directors.

"We hope that we shall obtain success once again, revive the
authority and glory of AUTOVAZ," Mr. Chemezov added.

                       About Fiat SpA

Headquartered in Turin, Italy, Fiat S.p.A. --
http://www.fiatgroup.com/-- manufactures and sells automobiles,
commercial vehicles, and agricultural and construction
equipment.  Fiat's creditors include Banca Intesa, Banca Monte
dei Paschi di Siena, Banca Nazionale del Lavoro, Capitalia,
Sanpaolo IMI, and UniCredito Italiano.

Fiat operates in Argentina, Australia, Austria, Belgium, Brazil,
Bulgaria, China, Czech Republic, Denmark, France, Germany,
Greece, Hungary, India, Ireland, Italy, Japan, Lituania,
Netherlands, Poland, Portugal, Romania, Russia, Singapore,
Spain, among others.

                        *     *     *

As reported on Aug. 24, 2007, Moody's Investors Service upgraded
to Ba1 from Ba2 Fiat SpA's Corporate Family Rating, and the
group's other long-term senior unsecured ratings.

At the same time, the positive outlook on all long-term ratings
was maintained.  The short term Not Prime rating remains
unchanged.


GENERAL MOTORS: To Cut 767 Jobs at Hammtramck Plant in December
---------------------------------------------------------------
General Motors Corp. will initiate at the end of the year a lay
off program at the Hamtramck assembly plant in Detroit,
Michigan, affecting 767 workers, according to various reports.

Due to the decline in sales, the assembly plant, which employs
1,847 hourly workers and manufactures Buick Lucerne and Cadillac
DTS sedans, will be fusing two shifts into one on Dec. 14, 2007.
The plant currently produces 40 cars per hour over two shifts.
After Jan. 2, 2008, the plant will manufacture 56 cars per hour
over one shift, sources report citing GM spokesman Tom Wickham.

Sales of the Cadillac DTS are down 14% this year, while sales of
the Lucerne have fallen 15%, sources disclosed referring to
Autodata Corp.

"The products are selling but the capacity is greater than the
demand," Mr. Wickham said.  "We have to make sure we don't have
too much inventory out there."

As reported in the Troubled Company Reporter on Sept. 27, 2007,
GM reached a labor deal with the United Auto Workers union,
bringing unprecedented job security with company commitments to
invest in new products for its existing U.S. facilities, as well
as a moratorium on plant closings and outsourcing of work over
the life of the agreement.  The UAW also was able to secure a
commitment to hire 3,000 temporary workers into full-time,
traditional employment.

Sources say that under the labor contract, the Hamtramck plant,
one of those who were promised jobs, will start production of a
crossover vehicle in 2009 and a midsize Chevrolet sedan in 2012.
The plant is expected to manufacture GM's planned electric
hybrid vehicle, the Chevrolet Volt, in 2010.

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

                        *     *     *

As reported in the Troubled Company Reporter on Oct. 17, 2007,
Standard & Poor's Ratings Services said that its long-term
ratings on General Motors Corp. remain on CreditWatch with
positive implications, where they were placed Sept. 26, 2007.
S&P placed the ratings on CreditWatch when GM and its main
union, the United Auto Workers, reached a tentative new labor
contract.  The UAW has since approved that contract, and GM
discussed the contract's economics.  S&P expect to resolve the
CreditWatch listing by Oct. 31, 2007.

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


GERDAU AMERISTEEL: To Issue 110 Million of Common Shares
--------------------------------------------------------
Gerdau Ameristeel has filed a preliminary prospectus with the
U.S. and Canadian securities regulatory authorities for the
issuance of 110 million common shares.

Business News Americas relates that Brazilian parent firm Gerdau
SA agreed to purchase 73 million of the common shares that
Gerdau Ameristeel will issue.  Gerdau holds a 67% stake in
Gerdau Ameristeel.

According to BNamericas, net proceeds from the offering will be
allocated for the partial payment of loans related to Gerdau
Ameristeel's acquisition of US-based Chaparral Steel in a
US$4.22-billion all-cash deal that closed in September 2007.

Gerdau Ameristeel said in a statement that the share offering
could include the issuance of another 16.5 million shares.

                       About Gerdau SA

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.

                    About Gerdau Ameristeel

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.


KENDLE INT'L: Names Mary Briggs Vice President for Global Sales
---------------------------------------------------------------
Kendle has appointed Mary Briggs, as Vice President for Global
Sales.  Ms. Briggs will lead the ongoing sales growth strategy
as well as develop the global sales organization as Kendle
continues to expand its worldwide presence.  She will report
directly to Vice President and Chief Marketing Officer Simon
Higginbotham and will work closely with senior executives from
across the company's core service brands -- Clinical
Development, Regulatory Affairs, Biometrics and Late Phase -- to
drive sales growth in each brand.

"I am delighted to welcome Mary to this new and crucial role as
Kendle continues to grow to meet the needs of both customers and
shareholders," said Mr. Higginbotham.  "She has established a
track record of outstanding sales leadership in the drug
development industry, including significant roles within large
global CROs and top biopharmaceutical companies.  Her
considerable reputation throughout the industry coupled with
extensive experience make her uniquely qualified to maintain and
grow Kendle's record sales environment, which delivered results
at triple the reported sector growth rate for Phase I- IV
clinical development services in 2006."

Ms. Briggs brings more than two decades of sales, management and
consulting experience in the biopharmaceutical industry to the
position.  She is an accomplished speaker, having served on
numerous speakers' bureaus, including ongoing speaking
engagements for the Drug Information Association, National
Pharmacists Association and several leading biopharmaceutical
companies.  Furthermore, Ms. Briggs has trained hundreds of
investigators on building their clinical trial business as well
as nontraditional approaches to patient recruitment.

Since joining Kendle in 2005 as Senior Director, Strategic
Accounts, Ms. Briggs has developed sales growth strategies that
have lead to outstanding relationships with customers and
propelled her team to best-in-class sales achievement.

                        About Kendle

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

                        *     *     *

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

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


SCO GROUP: Terminates 16 Employees; Wants Names Filed Under Seal
----------------------------------------------------------------
In a filing with the U.S. Bankruptcy Court for the District of
Delaware, SCO Group Inc. and SCO Operations Inc. disclosed that
they were terminating 16 of their 123 employees.

The Debtors, in this regard, ask the Court for authority to
continue their prepetition severance policy and payment of
severance and accrued benefits to the terminated employees.  The
Debtors say that prior to filing for bankruptcy, they had a
severance policy generally applicable to all full-time employees
terminated without cause.

At the same time, the Debtors also ask the Court that copies of
their severance policy as well as the names and specific
severance amounts to be paid to terminated employees be filed
under seal.  The Debtors contend that the information contained
in these documents consitute confidential information that is
not in the public realm.

The Debtors fear that their current employees and the identified
terminated employees may experience harrasment from other
companies in the Debtors' industry.  The Debtors further argue
that "poaching" of the remaining employees by competitors may
occur if the information is made public.

Headquartered in Lindon, Utah, The SCO Group Inc. (Nasdaq: SCOX)
fka Caldera International Inc. -- http://www.sco.com/--
provides software technology for distributed, embedded and
network-based systems, offering SCO OpenServer for small to
medium business and UnixWare for enterprise applications and
digital network services.

The company has office locations in Australia, Austria,
Argentina, Brazil, China, Japan, Poland, Russia, among others.

The company and its affiliate, SCO Operations Inc., filed for
Chapter 11 protection on Sept. 14, 2007, (Bankr. D. Del. Lead
Case No. 07-11337).  Paul Steven Singerman, Esq., and Arthur
Spector, Esq., at Berger Singerman P.A., represent the Debtors.
James O'Neill Esq., and Laura Davis Jones, Esq., at Pachulski
Stang Ziehl & Jones LLP, is the Debtors' local counsel.  Epiq
Bankruptcy Solutions, LLC, acts as the Debtors' claims and
noticing agent.  An Official Committee of Unsecured Creditors
has yet to be appointed in these cases by the Office of the
United States Trustee.  The Debtors' exclusive period to file a
chapter 11 plan expires on March 12, 2008.


SCO GROUP: Files Schedules of Assets & Liabilities
--------------------------------------------------
The SCO Group Inc. submitted to the U.S. Bankruptcy Court for
the District of Delaware its schedules of assets and
liabilities, disclosing:

     Name of Schedule                Assets      Liabilities
     ----------------              ----------    -----------
  A. Real Property
  B. Personal Property           US$4,772,875
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims
  E. Creditors Holding
     Unsecured Priority
     Claims
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                     US$2,141,258
                                   ----------    -----------
     TOTAL                       US$4,772,875   US$2,141,258

                    SCO Operations' Schedules

In a separate filing, SCO Operations Inc., a debtor-affiliate,
also filed its schedules of assets and liabilities, disclosing:

     Name of Schedule                Assets      Liabilities
     ----------------              ----------    -----------
  A. Real Property
  B. Personal Property           US$9,549,519
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims
  E. Creditors Holding
     Unsecured Priority
     Claims                                       US$484,514
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                     US$2,533,975
                                   ----------    -----------
     TOTAL                       US$9,549,519   US$3,018,489

Headquartered in Lindon, Utah, The SCO Group Inc. (Nasdaq: SCOX)
fka Caldera International Inc. -- http://www.sco.com/--
provides software technology for distributed, embedded and
network-based systems, offering SCO OpenServer for small to
medium business and UnixWare for enterprise applications and
digital network services.

The company has office locations in Australia, Austria,
Argentina, Brazil, China, Japan, Poland, Russia, among others.

The company and its affiliate, SCO Operations Inc., filed for
Chapter 11 protection on Sept. 14, 2007, (Bankr. D. Del. Lead
Case No. 07-11337).  Paul Steven Singerman, Esq., and Arthur
Spector, Esq., at Berger Singerman P.A., represent the Debtors.
James O'Neill Esq., and Laura Davis Jones, Esq., at Pachulski
Stang Ziehl & Jones LLP, is the Debtors' local counsel.  Epiq
Bankruptcy Solutions, LLC, acts as the Debtors' claims and
noticing agent.  An Official Committee of Unsecured Creditors
has yet to be appointed in these cases by the Office of the
United States Trustee.  The Debtors' exclusive period to file a
chapter 11 plan expires on March 12, 2008.


* BRAZIL: Reaches US$1-Billion Loan Deal with Angola
----------------------------------------------------
Angola Press Agency reports that Brazil and Angola are signing,
in Luanda, a US$1 billion financing deal under the memorandum of
understanding between the two countries.

The Angolan paper relates that Lucia Sousa, director of
financing programs for exportation with the Brazilian Ministry
of Development, Industry, and External Commerce, disclosed the
accord at her arrival in Luanda, on Tuesday, in the ambit of a
mission of the Committee of Financing and Guarantee to Exports
(COFIG).

COFIG includes:

   -- the Angolan Presidency Civil Office,
   -- the Planning Ministry, Budget and Management,
   -- the Chamber of External Commerce,
   -- The Brazilian Credit Insurance Company to Exports,
   -- the Foreign Ministry and
   -- Brazil Bank.

According to the report, the COFIG will prepare for, among other
tasks, the arrival of Brazilian President Lula da Silva, to
Angola.  President da Silva is in talks with the Head of State
Jose Eduardo dos Santos between both countries' delegations.

Both countries' memorandum of understanding was signed in 1995
and since then there is a financing stock for Angola for US$1.3
billion, the Agency adds.

Lucia Sousa stressed that commercial interchange between the two
countries recorded a 150% increased compared to the previous
year.

                        *     *     *

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


* BRAZIL: Petrobras Says International Oil Prices To Remain High
----------------------------------------------------------------
Brazilian state-owned oil firm Petroleo Brasileiro SA Chief
Executive Officer Jose Sergio Gabrielli told the press that
international oil prices will remain high "in the long run."

Business News Americas relates that oil prices traded at "a
record high" of over US$88 per barrel this week on international
markets.

Mr. Gabrielli commented to BNamericas, "The era of low oil
prices which allowed for the development of the world economy is
ending.  We will have to live with high oil prices and under
this scenario, alternative energy sources will become more
feasible."

Oil refining capacity is near its limit.  New oil discoveries
are in restricted areas with high exploration and production
costs.  Other industry costs are also increasing, BNamericas
states, citing Mr. Gabrielli.

                  About Petroleo Brasileiro

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

                        *     *     *

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

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

                        *     *     *

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


* BRAZIL: Commits to Increase Trade with India & South Africa
-------------------------------------------------------------
Brazil, India and South Africa have renewed their commitment to
a multi-lateral trade among them.  As part of the recently
concluded second India-Brazil-South Africa (IBSA) Heads of State
Summit, the three nations aimed to increase trade to more than
US$15 billion by 2010, the Times of India reports.

The three countries, India Times relates, have entered into new
agreements on:

   * cultural cooperation,
   * cooperation in health and medicine,
   * and Memoranda of Understanding on social issues, higher
     education, tax administration and wind resources.

The Summit was attended by Prime Minister Manmohan Singh, South
Africa President Thabo Mbeki and Brazil's President Lula da
Silva, according to the Times of India.

Times of India states that the officials have encouraged
industry players to be more ambitious and to exceed the target
of US$15 billion.

Among the pertinent issues tackled during the Summit are:

   * co-operation aimed at poverty eradication and development;

   * further enhancing political and trade relations among the
     three countries; and

   * developments with regard to the World Trade Organisation
     negotiations and the conclusion of the Doha Development
     Round.

Representatives of the various IBSA working groups, including
business, academics, Parliamentary forum, civil society forum
and the women's forum made reports to the three Heads of State,
Times of India adds.

Other published reports say that the leaders backed up the
launch of two additional working groups on Human Settlement
Development and on Environmental and Climate Change.

                        *     *     *

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


* BRAZIL: Underwater Pumping System May Raise JUB-6 Well Output
---------------------------------------------------------------
Brazilian state-run oil firm Petroleo Brasileiro SA told Bernd
Radowitz at Dow Jones Newswires that the Submarine Centrifuge
Pumping System, its new underwater pumping system, could more
than double product at the JUB-6 test well in the Jubarte field.

According to Petroleo Brasileiro's press statement, the pumping
system was deployed at the JUB-6 well.

Dow Jones relates that scientists at Petroleo Brasileiro's
Cenpes research and development center and the Espirito Santo
business unit engineers and suppliers developed the device.

The pumping system increased production at the well from 10,000
barrels a day to 24,000 barrels a day during the past 100 days,
the company's statement said.

The system will also make production from marginal deep-water
heavy oil accumulations economically viable, Dow Jones states,
citing Petroleo Brasileiro.

                  About Petroleo Brasileiro

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

                        *     *     *

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

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

                        *     *     *

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




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


APCOA IIP: Proofs of Claim Filing Deadline Is Nov. 5
----------------------------------------------------
Apcoa IIP Limited's creditors are given until Nov. 5, 2007, to
prove their claims to Westport Services Ltd., the company's
liquidator, or be excluded from receiving any distribution or
payment.

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

Apcoa IIP's shareholders agreed on Sept. 24, 2007, to place the
company into voluntary liquidation under Bermuda's Companies Act
1981.

The liquidator can be reached at:

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


APCOA EQUITY: Proofs of Claim Filing Is Until Nov. 5
----------------------------------------------------
Apcoa Equity Limited's creditors are given until Nov. 5, 2007,
to prove their claims to Westport Services Ltd., the company's
liquidator, or be excluded from receiving any distribution or
payment.

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

Apcoa Equity's shareholders agreed on Sept. 24, 2007, to place
the company into voluntary liquidation under Bermuda's Companies
Act 1981.

The liquidator can be reached at:

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


BABYLON ML: Creditors Must File Proofs of Claim by Nov. 5
---------------------------------------------------------
Bablylon ML Ltd.'s creditors are given until Nov. 5, 2007, to
prove their claims to Michael Pungello and Gabriel Mairzadeh,
the company's liquidators, or be excluded from receiving any
distribution or payment.

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

Babylon ML's shareholders agreed on Sept. 3, 2007, to place the
company into voluntary liquidation under Bermuda's Companies Act
1981.

The liquidators can be reached at:

         Gabriel Mairzadeh
         Michael Pungello
         Campbells
         4th Floor, Scotia Centre
         P.O. Box 884
         George Town
         Grand Cayman KY1-1103


CABLE & WIRELESS: Dismisses Speculation on Business Disposal
------------------------------------------------------------
Cable & Wireless plc is unlikely to sell its business, Jim
Marsh, chief executive of Europe, Asia & U.S told Reuters,
dismissing speculations.

According to Mr. Marsh, considering C&W's unique asset
capability, it might in fact be on the acquisition trail.  He
added that the telecoms group is investing significantly in
Asia.

"The question is, if you have a unique capability like we do,
why would you want to sell that?" Mr. Marsh was quoted by
Reuters as saying.  "Surely it's more likely that you'd want to
continue to build up the business you have today, by buying
things.  So it's unlikely that we will choose to sell the
business when we've got such unique asset capability."

Headquartered in London, Cable & Wireless Plc --
http://www.cw.com/new/-- provides voice, data and IP (Internet
Protocol) services to business and residential customers, as
well as services to other telecoms carriers, mobile operators
and providers of content, applications and Internet services.
The company has operations are in the United Kingdom, India,
China, the Cayman Islands and the Middle East.

                        *     *     *

In April 2007, in connection with the implementation of its new
Probability-of-Default and Loss-Given-Default rating methodology
for the corporate families in the Telecommunications, Media and
technology sector, Moody's Investors Service confirmed its Ba3
Corporate Family Rating for Cable & Wireless Plc.

Moody's also assigned a Ba3 Probability-of-Default rating to the
company.

* Issuer: Cable & Wireless Plc

                                          Projected
                        Debt     LGD      Loss-Given
Debt Issue              Rating   Rating   Default
----------              -------  -------  --------
4% Senior Unsecured
Conv./Exch.
Bond/Debenture
Due 2010                B1       LGD4     60%

GBP200 million
8.75% Senior
Unsecured Regular
Bond/Debenture
Due 2012                B1       LGD4     60%


EQUITY APC: Proofs of Claim Filing Ends on Nov. 5
-------------------------------------------------
Equity APC Limited's creditors are given until Nov. 5, 2007, to
prove their claims to Westport Services Ltd., the company's
liquidator, or be excluded from receiving any distribution or
payment.

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

Equity APC's shareholders agreed on Sept. 24, 2007, to place the
company into voluntary liquidation under Bermuda's Companies Act
1981.

The liquidator can be reached at:

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


INVESTCORP APCOA: Proofs of Claim Filing Deadline Is Nov. 5
-----------------------------------------------------------
Investcorp Apcoa Investing Limited's creditors are given until
Nov. 5, 2007, to prove their claims to Westport Services Ltd.,
the company's liquidator, or be excluded from receiving any
distribution or payment.

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

Investcorp Apcoa's shareholders agreed on Sept. 24, 2007, to
place the company into voluntary liquidation under Bermuda's
Companies Act 1981.

The liquidator can be reached at:

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


INVESTCORP APCOA ISLAMIC: Proofs of Claim Filing Ends on Nov. 5
---------------------------------------------------------------
Investcorp Apcoa Islamic Financing Limited's creditors are given
until Nov. 5, 2007, to prove their claims to Westport Services
Ltd., the company's liquidator, or be excluded from receiving
any distribution or payment.

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

Investcorp Apcoa Islamic's shareholders agreed on
Sept. 24, 2007, to place the company into voluntary liquidation
under Bermuda's Companies Act 1981.

The liquidator can be reached at:

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


KARDIO THIRD: Proofs of Claim Filing Ends on Nov. 5
---------------------------------------------------
Kardio Third Holdings' creditors are given until Nov. 5, 2007,
to prove their claims to Ali Mudeen, the company's liquidator,
or be excluded from receiving any distribution or payment.

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

Kardio Third's shareholders agreed on Sept. 27, 2007, to place
the company into voluntary liquidation under Bermuda's Companies
Act 1981.

The liquidator can be reached at:

        Ali Mudeen
        Attention: Janeen Aljadir
        Caledonian Bank & Trust Limited
        Caledonian House, 69 Dr. Roy's Drive
        P.O. Box 1043, George Town
        Grand Cayman, Cayman Islands
        Telephone: (345) 949-4943
        Fax: (345) 814-4859


PROJECT CENTRAL: Creditors Must File Proofs of Claim by Nov. 15
---------------------------------------------------------------
Project Central Limited's creditors are given until
Nov. 15, 2007, to prove their claims to Linburgh Martin and Jeff
Arkley, the company's liquidators, or be excluded from receiving
any distribution or payment.

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

Project Central's shareholders agreed on Sept. 17, 2007, to
place the company into voluntary liquidation under Bermuda's
Companies Act 1981.

The liquidator can be reached at:

          Linburgh Martin
          Jeff Arkley
          P.O. Box 1034 George Town
          Grand Cayman, Cayman Islands

For inquiries, you may contact:

          Neil Gray
          Close Brothers (Cayman) Limited
          Fourth Floor, Harbour Place
          P.O. Box 1034 George Town
          Grand Cayman, Cayman Islands
          Tel: (345) 949 8455
          Fax: (345) 949 8499


SECURITY CAPITAL: Creditors Must File Proofs of Claim by Nov. 15
----------------------------------------------------------------
Security Capital Ltd.'s creditors are given until Nov. 15, 2007,
to prove their claims to Geoffrey Varga and William Cleghorn at
Kinetic Partners Cayman LLP, the company's liquidators, or be
excluded from receiving any distribution or payment.

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

Security Capital's shareholders agreed on Sept. 27, 2007, to
place the company into voluntary liquidation under Bermuda's
Companies Act 1981.

The liquidators can be reached at:

          Geoffrey Varga
          William Cleghorn
          Kinetic Partners Cayman LLP
          c/o Karen Price
          P.O. Box 10387
          Grand Cayman KY1-1004
          Cayman Islands
          Tel: (345) 623 9904
          Fax: (345) 623 0007


SHORELINE GROUP: Creditors Must File Proofs of Claim by Nov. 16
---------------------------------------------------------------
Shoreline Group, Ltd.'s creditors are given until Nov. 16, 2007,
to prove their claims to Peter Mackay at Global Captive
Management, Ltd., the company's liquidator, or be excluded from
receiving any distribution or payment.

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

Shoreline Group's shareholders agreed on Sept. 18, 2007, to
place the company into voluntary liquidation under Bermuda's
Companies Act 1981.

The liquidator can be reached at:

          Peter Mackay
          Global Captive Management, Ltd.
          Building 3, 2nd Floor
          Governors Square, 23 Lime Tree Bay
          P.O. Box 1363
          Grand Cayman KY1-1108, Cayman Islands
          Tel: (345) 949 7966


SOJA CAPITAL: Creditors Must File Proofs of Claim by Nov. 18
------------------------------------------------------------
Soja Capital's creditors are given until Nov. 18, 2007, to prove
their claims to Andrew Johnson at Wilmington Trust (Cayman),
Ltd., the company's liquidator, or be excluded from receiving
any distribution or payment.

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

Soja Capital's shareholders agreed on Dec. 27, 2006, to place
the company into voluntary liquidation under Bermuda's Companies
Act 1981.

The liquidator can be reached at:

          Andrew Johnson
          Wilmington Trust (Cayman), Ltd.
          4th Floor, Century Yard
          Cricket Square, Elgin Avenue
          P.O. Box 32322
          Grand Cayman KY1-1209, Cayman Islands
          Tel: (345) 814 6703


SOLARIS SPECTRA: Creditors Must File Proofs of Claim by Nov. 15
---------------------------------------------------------------
Solaris Spectra Currency Only International Ltd.'s creditors are
given until Nov. 15, 2007, to prove their claims to Avalon
Management Limited, the company's liquidator, or be excluded
from receiving any distribution or payment.

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

Solaris Spectra's shareholders agreed on Sept. 24, 2007, to
place the company into voluntary liquidation under Bermuda's
Companies Act 1981.

The liquidator can be reached at:

         Avalon Management Limited
         Third Floor, Zephyr House
         Mary Street
         P.O. Box 1180
         Grand Cayman KY1-1108
         Cayman Islands

For inquires, you may contact:

         Quin & Hampson (Ref: JAPF)
         c/o P.O. Box 1348
         Grand Cayman KY1-1108
         Cayman Islands
         Tel: (+1) 345 949 4123
         Fax: (+1) 345 949 4647


SOUTHWEST UNDERWRITERS: Proofs of Claim Must be Filed by Nov. 15
----------------------------------------------------------------
Southwest Underwriters, Inc.'s creditors are given until
Nov. 15, 2007, to prove their claims to dms Corporate Services,
Ltd., the company's liquidator, or be excluded from receiving
any distribution or payment.

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

Southwest Underwriters' shareholders agreed on Sept. 18, 2007,
to place the company into voluntary liquidation under Bermuda's
Companies Act 1981.

The liquidator can be reached at:

         dms Corporate Services, Ltd.
         Ansbacher House
         20 Genesis Close
         P.O. Box 1344
         George Town, Grand Cayman KY1-1108
         Cayman Islands

For inquiries, you may contact:

         Quin & Hampson (Ref: JAPF)
         c/o P.O. Box 1348
         Grand Cayman KY1-1108
         Cayman Islands
         Telephone: (+1) 345 949 4123
         Facsimile: (+1) 345 949 4647


STAR CAPTURE: Creditors Must File Proofs of Claim by Nov. 15
------------------------------------------------------------
Star Capture Corporation's creditors are given until
Nov. 15, 2007, to prove their claims to Piccadilly Cayman
Limited, the company's liquidator, or be excluded from receiving
any distribution or payment.

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

Star Capture's shareholders agreed on Sept. 24, 2007, to place
the company into voluntary liquidation under Bermuda's Companies
Act 1981.

The liquidator can be reached at:

         Piccadilly Cayman Limited
         c/o BNP Paribas Bank & Trust Cayman Limited
         P.O. Box 10632
         APO, Grand Cayman
         Tel: 345 945 9208
         Fax: 345 945 9210

Address for services:

         Ellen J. Christian
         c/o BNP Paribas Bank & Trust Cayman Limited
         3rd Floor Royal Bank House, Shedden Road
         George Town, Grand Cayman


STONE HARBOR: Creditors Must File Proofs of Claim by Nov. 5
-----------------------------------------------------------
Stone Harbor Offshore Fund, Ltd.'s creditors are given until
Nov. 5, 2007, to prove their claims to Mitchell Porten, the
company's liquidator, or be excluded from receiving any
distribution or payment.

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

The liquidator can be reached at:

           Mitchell Porten
           1132 Bishop Street
           Suite 1580
           Honolulu, HI 96813

For inquires, you may contact:

           Colin J. MacKay
           c/o Ogier, Queensgate House
           South Church Street
           P.O. Box 1234
           Grand Cayman KY1-1108, Cayman Islands
           Tel: (345) 949 9876
           Fax: (345) 945 8604


TECH CHAIN: Creditors Must File Proofs of Claim by Nov. 6
---------------------------------------------------------
Tech Chain Reaction Fund's creditors are given until
Nov. 6, 2007, to prove their claims to Albert King Chung-Cheng,
the company's liquidator, or be excluded from receiving any
distribution or payment.

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

The liquidator can be reached at:

          Albert King Chung-Cheng
          15F-9, No.6
          Sinyi Rd., Section 4
          Taipei 106, Taiwan


TERTIA LIMITED: Creditors Must File Proofs of Claim by Nov. 15
--------------------------------------------------------------
Tertia Limited's creditors are given until Nov. 15, 2007, to
prove their claims to Colin G. Shaw, the company's liquidator,
or be excluded from receiving any distribution or payment.

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

Tertia Limited's shareholders agreed on Sept. 21, 2007, to place
the company into voluntary liquidation under Bermuda's Companies
Act 1981.

The liquidator can be reached at:

          Colin G. Shaw
          Helvetic Management Services Limited
          Alamander Way, Grand Pavilion
          P.O. Box 31083, Grand Cayman KY1-1205
          Cayman Islands
          Tel: 945-3301
          Fax: 945-3302


WEST 57: Proofs of Claim Filing Deadline Is Nov. 5
--------------------------------------------------
West 57 Limited's creditors are given until Nov. 5, 2007, to
prove their claims to Westport Services Ltd., the company's
liquidator, or be excluded from receiving any distribution or
payment.

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

West 57's shareholders agreed on Sept. 27, 2007, to place the
company into voluntary liquidation under Bermuda's Companies Act
1981.

The liquidator can be reached at:

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


WEST 57 EQUITY: Proofs of Claim Filing Is Until Nov. 5
------------------------------------------------------
West 57 Equity Limited's creditors are given until Nov. 5, 2007,
to prove their claims to Westport Services Ltd., the company's
liquidator, or be excluded from receiving any distribution or
payment.

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

West 57 Equity's shareholders agreed on Sept. 27, 2007, to place
the company into voluntary liquidation under Bermuda's Companies
Act 1981.

The liquidator can be reached at:

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


WEST 57 INVESTMENTS: Proofs of Claim Filing Ends on Nov. 5
----------------------------------------------------------
West 57 Investments Limited's creditors are given until
Nov. 5, 2007, to prove their claims to Westport Services Ltd.,
the company's liquidator, or be excluded from receiving any
distribution or payment.

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

West 57 Investments' shareholders agreed on Sept. 27, 2007, to
place the company into voluntary liquidation under Bermuda's
Companies Act 1981.

The liquidator can be reached at:

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


WEST 57 EQUITY INVESTMENTS: Claims Filing Deadline Is Nov. 5
------------------------------------------------------------
West 57 Equity Investments Limited's creditors are given until
Nov. 5, 2007, to prove their claims to Westport Services Ltd.,
the company's liquidator, or be excluded from receiving any
distribution or payment.

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

West 57 Equity Investments' shareholders agreed on
Sept. 27, 2007, to place the company into voluntary liquidation
under Bermuda's Companies Act 1981.

The liquidator can be reached at:

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




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


BELL MICROPRODUCTS: Expects US$1.015 Billion Revenue Increase
-------------------------------------------------------------
Bell Microproducts Inc. has announced preliminary revenue for
the quarter ended Sept. 30, 2007 in a range of US$1.015 billion
to US$1.025 billion, an increase of approximately 30% from
revenue for the comparable quarter of 2006.  Without revenue
generated from ProSys Information Systems, a company acquired in
the fourth quarter of 2006, revenue increased by approximately
17% on a year-over-year basis.

The company experienced strong revenue growth from each
geography and in most strategic product categories.  Revenue for
each of the company's three major geographies consisted of:

* North American revenue increased 38% in the third quarter
   of 2007 compared to the third quarter of 2006 and comprised
   approximately 44% of total revenue for the quarter.
   Excluding the results of ProSys Information Systems which
   was acquired in October 2006, North American revenue
   increased 4% in the third quarter of 2007 compared to the
   third quarter of 2006.  In North American distribution, the
   company continued to drive revenue growth in its higher
   margin Industrial sales group.  This was partially offset
   by lower revenue growth in the U.S. commercial sales
   channel due to the focus on more profitable business
   opportunities.  Disk drives and peripherals revenue during
   the quarter was strong, with revenue increasing
   approximately 9% compared to the third quarter of 2006.
   Enterprise group revenue in North America posted solid
   revenue performance during the third quarter.  IT project
   spending increased from key telco, healthcare and financial
   services clients.

* Latin America revenues increased approximately 14% year-
   over-year and represented 14% of total revenue for the
   quarter.  Latin America revenue growth was driven by
   strength in the company's export business from Miami, and
   its in-country operations.  Solutions product revenue
   increased over 60% compared to the third quarter of last
   year as a result of the focus on growth in computer
   platforms.  Components and peripheral sales increased by 7%.

* The company's European operations posted year-over-year
   revenue growth of approximately 29% and represented
   approximately 42% of total revenue for the quarter.
   Excluding the positive impact of foreign currency
   translation, European revenue increased 18% from the third
   quarter of 2006.  Revenue growth in Europe was particularly
   strong on both a year-over-year basis, as well as
   sequentially.  This was the result of strong revenue
   performance combined with the positive impact of currency
   translations.  Components and peripherals revenue in Europe
   increased by over 40% compared to the same period last year,
   driven by disk drive and other peripherals revenue strength.
   Solutions product revenue in Europe increased by over 20%
   compared to the third quarter of 2006, driven by computer
   platforms, services, and storage systems strength.

Revenue for the major categories of products and services
consisted of:

* The Solutions category grew 45% annually to represent 52% of
   total revenue in the third quarter of 2007 compared to 47%
   in the third quarter of 2006, driven primarily by strong
   storage systems revenue and the acquisition of ProSys.

* The Components and Peripherals category grew approximately
   17% annually and represented 48% of revenue in the third
   quarter of 2007 compared to 53% in the third quarter of
   2006.  Disk drive revenue, which is included as a portion of
   Components and Peripherals revenue, increased approximately
   20% year-over-year, and represented approximately 30% of
   total revenue in the third quarter of 2007.

Commenting on the preliminary third quarter of 2007 revenue
results, W. Donald Bell, President and Chief Executive Officer
of Bell Microproducts, said, "We are pleased to report record
quarterly revenue for our company.  We generated growth across
all geographic regions and most product categories during our
third quarter this year compared to the same period a year ago.
Additionally, we grew revenue by nearly 10% sequentially from Q2
of this year.  We are pleased with the growth in our strategic
product categories, and our continued improvement in Europe.
The acquisition of ProSys has added significant strategic
elements to Bell Micro in product depth, customer reach, and
technical resources.  Given the strength in third quarter
revenue performance, we are optimistic about IT spending and our
company's ability to generate strong revenue performance again
in the fourth quarter."

The company is unable at this time to provide additional
quantitative information regarding its results for the third
quarter of 2007 until the previously announced restatement of
its financial statements for certain prior periods, and the
related audits and reviews have been completed.  The company
continues to work diligently to complete the restatement of its
historical financial statements.  As previously disclosed, the
company received waivers from its lenders into March, 2008
relating to the filing of financial reports with the SEC and the
provision of audited financial reports to the lenders.

                   About Bell Microproducts

Headquartered in San Jose, California, Bell Microproducts Inc.
(Nasdaq: BELM) -- http://www.bellmicro.com/-- is an
international, value-added distributor of high-tech products,
solutions and services, including storage systems, servers,
oftware, computer components and peripherals, as well as
maintenance and professional services.  Bell is a Fortune 1000
company that has operations in Argentina, Brazil, Chile and
Mexico.

                        *     *     *

For the quarter ended June 30, 2007, the company provided
additional information to NASDAQ to support its request for an
extension of time required to complete its required filings with
the U.S. Securities and Exchange Commission.  NASDAQ has given
the company a delisting notice on account of its failure to
timely file its quarter report.  During the quarter the company
also received waivers from its lenders through Sept. 30, 2007,
relating to the filing of financial reports with the SEC and the
provision of audited financial reports to the lenders.


BOSTON SCIENFIFIC: To Reduce Workforce Worldwide by 2,300
---------------------------------------------------------
Boston Scientific Corporation disclosed Wednesday several new
initiatives designed to enhance short- and long-term shareholder
value, including the restructuring or sale of several business
units, as well as substantial expense and head count reductions
intended to bring expenses in line with revenues.  The company
also said it is making good progress toward the execution of its
previously announced plans to sell non-strategic assets and
monetize the majority of its public and private investment
portfolio.  The company said these initiatives will help provide
better focus on core businesses and priorities, which will
strengthen Boston Scientific for the future and lead to
increased, sustainable and profitable sales growth.

The company plans to reduce its operating expenses, exclusive of
amortization and royalty expenses, against a 2007 baseline of
approximately US$4.1 billion by an estimated US$475 million to
US$525 million in 2008, representing a reduction of 12 to 13
percent, with a further reduction of an estimated US$25 million
to US$50 million in 2009.

The company plans to eliminate approximately 2,300 positions
worldwide, or approximately 13% of an 18,000-person, non-direct
labor workforce baseline as of June 30, 2007.  Eligible
employees affected by the head count reductions will be offered
severance packages, outplacement services and other appropriate
assistance and support.  The reduction activities will be
initiated this month and are expected to be substantially
completed worldwide by the end of 2008.  Reductions outside the
United States will be initiated following completion of
information sharing and consultations with required bodies.  In
addition, another approximately 2,000 employees are expected to
leave the company in connection with the previously announced
business divestitures.

The reductions will result in total pre-tax charges of
approximately US$450 million to US$475 million.  These mostly
cash charges will be recorded primarily as restructuring
expenses, with a portion recorded through other lines of the
income statement. Approximately US$275 million to US$300 million
will be recorded in the fourth quarter of 2007 with the
remainder expected to be recorded throughout 2008 and 2009.

The company plans to restructure several businesses and product
franchises in order to leverage resources, strengthen
competitive positions, and create a more simplified and
efficient business model.  Key components of the business
restructuring plan include:

   -- the Peripheral Interventions and Interventional Cardiology
      businesses will be combined under a single management
      structure to help create a more integrated business
      focused on interventional specialists, while enhancing
      technology and management efficiencies.

   -- the Electrophysiology business will be integrated with the
      Cardiac Rhythm Management business to better serve the
      needs of electrophysiologists by creating a more efficient
      organization.

   -- the Oncology business and its four franchises will be
      restructured.  Three will be integrated into other
      businesses within Boston Scientific, and the Oncology
      Venous Access franchise will be combined with the Fluid
      Management business.

   -- the company is actively seeking buyers for the combined
      Fluid Management/Oncology Venous Access business, as well
      as its Cardiac Surgery and Vascular Surgery businesses.
      The company has announced it has entered into a definitive
      agreement to sell its Auditory business.  Collectively,
      these businesses represent approximately US$550 million in
      2007 sales for Boston Scientific.

   -- the International group will be consolidated from three
      regions to two.  The existing three regions are: Europe,
      Asia Pacific/Japan, and Inter-Continental; the two new
      regions will be: Europe/Middle East/Africa, and
      Canada/Latin America/Asia Pacific/Japan.

"The expense and head count reductions we are announcing today
are intended to bring our expenses back in line with our
revenues, while preserving our ability to make investments in
quality, R&D, capital and our people that are essential to our
long-term success," said Jim Tobin, Boston Scientific president
and chief executive officer.  "While difficult, these reductions
are in the best interest of the company and will create greater
value for our customers and their patients, as well as for our
employees and shareholders.  These actions will enable us to
institute meaningful change that will create lasting benefits."

"We understand the impact these reductions will have on our
employees, and we are committed to helping ease the transition,"
said Tobin.  "We will treat everyone with respect and dignity,
and we will provide support to affected employees."

                     About Boston Scientific

Headquartered in Natick, Massachusetts, Boston Scientific
Corporation (NYSE: BSX) -- http://www.bostonscientific.com/
-- develops, manufactures and markets medical devices used in a
broad range of interventional medical specialties.  The company
has offices in Argentina, Chile, France, Germany, and Japan,
among others.

                        *     *     *

As reported in the Troubled Company Reporter on Aug. 28, 2007,
Standard & Poor's Ratings Services said that its ratings on
Boston Scientific Corp., including the 'BB+' corporate credit
rating, remain on CreditWatch with negative implications, where
they were placed Aug. 3, 2007.


SHAW GROUP: Environmental Unit Bags U.S. Navy Contract
------------------------------------------------------
The Shaw Group Inc.'s Environmental & Infrastructure Group has
been awarded a task order on an existing contract plus a new
contract from the U.S. Navy.

The work to be performed under the task order includes repair
and construction projects at Camp Lemonier in Djibouti, Africa.
The value of Shaw's contract, which has been included in the
company's previously announced backlog, was not disclosed.

Shaw, as managing partner of Atlantic Contingency Constructors
LLC, was awarded the first task order contract under the Global
Contingency Construction - Multiple Award Contract (GCC-MAC) by
the Naval Facilities Engineering Command, Atlantic Division. ACC
is a limited liability company formed by Shaw Environmental &
Infrastructure, Inc., AECOM Government Services, Inc., and PAE
Government Services.  ACC was awarded the GCC-MAC contract in
August of 2006.

Shaw was selected for a new contract award by the Naval
Facilities Engineering Service Center to perform work on
underground storage tanks on the island of Oahu, Hawaii.  Shaw
will be responsible for the cleaning, inspection and repair of
Red Hill Tank 2 and Red Hill Tank 20.  The value of Shaw's two-
year contract, which will be included in the company's fiscal
year 2008 first quarter backlog, was not disclosed.

"We are pleased to have been selected for the first task order
contract under the GCC-MAC to provide repair and construction
services," said J.M. Bernhard Jr., Shaw's chairman, president
and chief executive officer.  "This award further establishes
Shaw's international footprint and our ability to deliver a wide
range of contingency support for the U.S. Navy.

"We also are pleased to be awarded the tank repair contract by
the Naval Facilities Engineering Service Center," Mr. Bernhard
said.  "Shaw continues to build its technical expertise in the
fuels market and we look forward to delivering innovative
solutions for our clients worldwide."

                      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.




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


GMAC LLC: Fin'l Services Unit Restructures Mortgage Operations
--------------------------------------------------------------
GMAC Financial Services, a subsidiary of GMAC LLC, is
restructuring its mortgage operations, Residential Capital LLC,
as severe weakness in the housing market and mortgage industry
continues to prevail.  ResCap will streamline its operations and
revise its cost structure, which will enhance its flexibility,
allowing it to scale operations up or down more rapidly to meet
changing market conditions.

On Oct. 15, 2007, a restructuring plan was approved that will
include ResCap reducing its current worldwide workforce of
12,000 associates by approximately 25 percent, or by
approximately 3,000 associates, with the majority of reductions
occurring in the fourth quarter of 2007.

The reduction in workforce is in addition to the measures
undertaken in the first half of 2007 in which 2,000 positions
were eliminated.

"We deeply respect and value all of our associates.  While
workforce reductions are very difficult, we will treat our
departing associates with sensitivity in keeping with our
values," said Jim Jones, ResCap chief executive officer.
The reduction in ResCap's workforce was influenced by sharp
downturns in the U.S. residential real estate markets and the
global dislocation of the mortgage finance and credit markets.
The mortgage industry continues to experience lower overall
origination volumes; illiquidity in the secondary market; and
adverse trends in home price appreciation.

As a result of the actions, ResCap will incur restructuring
charges, which are expected to range from US$90 to US$110
million, which will include costs related to severance and other
employee-related costs of approximately US$55 to US$65 million
and the closure of facilities of approximately US$35 to US$45
million.  The majority of the charges will be incurred in the
fourth quarter of 2007.  Consolidated charges are expected to
result in future cash expenditures of approximately US$85 to
US$95 million.

The workforce reductions will include a range of administrative
and managerial positions.  Business units most affected by lower
mortgage market origination volumes will incur the most
reductions.  All eligible associates affected by the workforce
reduction will be provided severance packages and outplacement
assistance.

ResCap said it will continue to modify its product offerings
based on market conditions, and has sharply reduced its exposure
to nonprime and prime non-conforming loans this year.
Nevertheless, ResCap added it will continue to offer a broad and
competitive menu of high quality products and will pursue growth
plans opportunistically in areas where the company maintains a
competitive advantage. In addition, ResCap will continue to
leverage its relationship with GMAC Bank and its efficient,
dependable sources of funding.

                  About Residential Capital, LLC

Residential Capital LLC -- https://www.rescapholdings.com/ -- is
a real estate finance company, focused primarily on the
residential real estate market in the United States, Canada,
Europe, Latin America and Australia.  The company's diversified
businesses cover the spectrum of the U.S. residential finance
industry, from origination and servicing of mortgage loans
through their securitization in the secondary market.  It also
provides capital to other originators of mortgage loans,
residential real estate developers, and resort and timeshare
developers.

                           About GMAC

GMAC LLC -- http://www.gmacfs.com/-- formerly General Motors
Acceptance Corporation, is a global, diversified financial
services company that operates in approximately 40 countries in
automotive finance, real estate finance, insurance and other
commercial businesses.  GMAC was established in 1919
and currently employs about 31,000 people worldwide.  Its Latin
American operations are located in Argentina, Brazil, Chile,
Colombia, Mexico and Venezuela.  At Dec. 31, 2006, GMAC held
more than US$287 billion in assets and earned net income for
2006 of US$2.1 billion on net revenue of US$18.2 billion.


GMAC LLC: S&P Places BB+/B-1 Credit Rating on Watch Negative
------------------------------------------------------------
Standard & Poor's Ratings Services has placed its ratings on
GMAC LLC, including its 'BB+/B-1' counterparty credit rating, on
CreditWatch with negative implications.

"The CreditWatch action follows the announcement of GMAC's 100%
owned subsidiary, Residential Capital LLC (BBB-/Watch Neg/A-3),
of a significant downsizing of its operations," said S&P's
credit analyst John K. Bartko.  "The plan includes an employee
reduction of approximately 3,000 or 25% of the total headcount.
Additionally, the cost of the reduction, which will be reflected
as a fourth-quarter 2007 charge on Residential Capital LLC's
books, will be approximately US$100 million."

Residential Capital LLC has historically been a significant
contributor to GMAC's operating performance.  However, recent
market conditions have increasingly pressured operations at
Residential Capital LLC, which has reported sizable losses in
each of the previous three quarters.

Though Residential Capital LLC's downsizing of its business may
represent a prudent move over the longer term, the decision to
contract the business and S&P's concerns about the near and
longer term prospects for Residential Capital LLC prompted the
placement of GMAC's and Residential Capital LLC's ratings on
CreditWatch.  In the near term, S&P's concerns have grown
regarding the reduced probability of improvement in third-
quarter results versus those of the second quarter for
Residential Capital LLC.  This concern is driven by results to
date of other lenders in the mortgage business, which has
reflected both credit- and market-related charges and marks.
S&P also considered S&P's expectations of continued weakness in
the housing and mortgage markets through the rest of 2007 and
into 2008, and hence ongoing pressure on Residential Capital LLC
business over the intermediate term.

Finally, S&P is concerned about increasing uncertainty
surrounding Residential Capital LLC's downsized business model,
as it would be challenging for Residential Capital LLC to earn a
satisfactory return by increasing its focus on higher quality,
lower yielding asset types with funding dependence on the
collateralized capital markets.

"Resolution of the CreditWatch listing will be driven by third-
quarter results and company expectations for future results,"
Mr. Bartko said.

GMAC LLC -- http://www.gmacfs.com/formerly General Motors
Acceptance Corporation, is a global, diversified financial
services company that operates in approximately 40 countries in
automotive finance, real estate finance, insurance and other
commercial businesses.  GMAC was established in 1919 and
currently employs about 31,000 people worldwide.  Its Latin
American operations are located in Argentina, Brazil, Chile,
Colombia, Mexico and Venezuela.  At Dec. 31, 2006, GMAC has more
than US$287 billion in assets and net income for 2006 of US$2.1
billion on net revenue of US$18.2 billion.


SOLUTIA INC: Treatment of Claims Under Revised Plan
---------------------------------------------------
Under the Consensual Plan filed by Solutia Inc. and its debtor-
affiliates with the U.S. Bankruptcy Court for the Southern
District of New York on Oct. 15, 2007, all Claims and Equity
Interests, except Administrative Expense Claims and Priority Tax
Claims, are classified in 20 classes for purposes of voting and
future distributions.

According to Jeffry N. Quinn, chairman, president and chief
executive officer of Solutia, Inc., the proposed recoveries are
"projected" recoveries and may change based on certain
adjustments in Allowed Claims and available proceeds.  The
recovery calculations, he explained, are based on these
assumptions:

  (i) a midpoint implied equity value for Reorganized Solutia
      of approximately US$1,200,000,000;

(ii) a General Unsecured Claims pool of US$342,000,000 -- the
      midpoint of Solutia's estimated range for the ultimate
      aggregate amount of Allowed General Unsecured Claims;

(iii) an exercise price in the Rights Offering at a 33.33%
      discount to Solutia's Valuation;

(iv) full subscription to the Rights Offering by participating
      parties;

  (v) full subscription by the Backstop Group to the Backstop
      Pool; and

(vi) that all recoveries are calculated net of the cost to
      acquire rights.

The Classes of Claims are:

                                            Estimated  Estimated
                                           Aggregated Percentage
Class  Designation     Treatment            Amount     Recovery
-----  -----------     ---------           ---------  ---------
1      Priority
        Non-Tax Claims  Unimpaired;        US$2,200,000   100%
                        deemed to accept

2      Secured Claims  Unimpaired;          40,000,000   100%
                                                 to
                                             50,000,000

3      Senior Secured  Impaired;            209,900,000  100%
        Note Claims     entitled to vote

4      Convenience     Unimpaired;          1,000,000    100%
        Claims          deemed to accept        to
                                             2,500,000

5      CPFilms Claims  Impaired;            8,400,000    100%
                        entitled to vote

6      NRD Claims      Unimpaired;             N/A        -
                        deemed to accept

7      Insured Claims  Unimpaired;             N/A        -
                        deemed to accept

8      Tort Claims     Unimpaired;             N/A        -
                        deemed to accept

9      Legacy Site     Unimpaired;             N/A        -
        Claims          deemed to accept

10    Equity           Unimpaired;             N/A       N/A
       Interests in     deemed to accept
       all Debtors
       other than
       Solutia

11    Monsanto Claim   Impaired;               -            -
                        entitled to vote

12    Noteholder       Impaired;          455,400,000    88.4%
       Claims           entitled to vote

13    General          Impaired;          317,000,000    83.1%
       Unsecured        entitled to            to
       Claims           vote               367,000,000

14    Retiree Claim    Impaired;           35,000,000    69.8%
                        entitled to vote

15    Pharmacia        Impaired;               N/A        N/A
       Claims           entitled to vote


16    Non-Debtor       Impaired;          108,000,000      40%
       Intercompany     entitled to vote
       Claims

17    Debtor           Impaired;        2,440,000,000       0%
       Intercompany     entitled to vote
       Claims

18    Axio Claims      Impaired;               N/A          0%
                        deemed to reject

19    Security Claims  Impaired;         Pro Rata Share      -
                        entitled to vote

20    Equity           Impaired;
       Interests in     entitled to vote     0.01/share       -
       Solutia

Pursuant to Section III.B.7 of the Consensual Plan, the NRD
Claims will be reinstated and paid in accordance with the terms
of the Consensual Plan and the Monsanto Settlement Agreement.
Section III.B.8, on the other hand, provides that the Tort
Claims will be unaffected by Solutia's Chapter 11 cases and will
be resolved in the ordinary course of business.

Monsanto is taking financial responsibility for the Legacy Site
Claims under the Consensual Plan.

Pursuant to the Consensual Plan and the Monsanto Settlement
Agreement, Pharmacia will receive a limited indemnity from
reorganized Solutia and a limited release from the Debtors,
Reorganized Solutia and their estates for claims arising before
the Petition Date; Holders of Claims or Equity Interests; and
the Retirees Committee.

Holders of Security Claims will receive their Pro Rata share of
the Distribution provided to Holders of Equity Interests in
Class 20.

Solely for purposes of tabulating votes to accept or reject the
Plan in accordance with Section 1126(d) of the bankruptcy Code,
each share of Solutia's common stock will be deemed to be worth
US$0.01.

Mr. Quinn states that the Plan Distributions will be made only
to Holders of Allowed Claims and certain Holders of common stock
in Solutia.  Holders of disputed claims will receive no
distributions unless and until their claims become Allowed.  He
adds that a condition to the Effective Date is that Solutia
establish a "Disputed General Unsecured Claims Reserve."

According to Mr. Quinn, the reserve cannot be established and
initial distributions to Holders of Allowed General Unsecured
Claims and 2027/2037 Notes Claims cannot be made until all
relevant unliquidated and disputed claims are estimated or fixed
for distribution purposes.  There are currently 15 unliquidated
claims classified as General Unsecured Claims, excluding claims
that Solutia believes are Tort Claims, Legacy Site Claims,
Retiree Claims or Claims in other Classes that are not subject
to the Disputed General Unsecured Claims Reserve.

In addition, Mr. Quinn notes, there are 62 General Unsecured
Claims in the asserted amount of US$634,170,000, which Solutia
opposes for various reasons.  The number excludes claims that
Solutia believes are Tort Claims, Legacy Site Claims, Retiree
Claims or Claims in other Classes that are not subject to the
Disputed General Unsecured Claims Reserve.

While it is in the process of attempting to resolve each of
these Claims, Solutia projects that if the Effective Date occurs
on Dec. 31, 2007, the amount it would need to reserve for the
Claims is US$40,460,000, comprised of approximately
US$20,000,000 on account of Unliquidated Claims and
approximately US$20,000,000 for other disputed General Unsecured
Claims.

Mr. Quinn says the estimate does not include the additional
General Unsecured Claims related to the "Dickerson Plaintiffs"
or the Senior Secured Notes, if any.  The Dickerson Claim, which
was asserted for US$290,000,000, was estimated by Solutia at
US$0.

The Unimpaired Classes 1, 2, 4, 6, 7, 8, 9, and 10 will be paid
in cash, in full, on the Effective Date, will be reinstated or
will otherwise not be impaired by the terms of the Amended Plan.
Holders of Claims in those Classes are deemed to accept the
Amended Plan.  Claims in Class 16 will receive a distribution
under the Amended Plan, and its holders are deemed to accept the
Amended Plan.  Claims in Class 17 will not receive a
distribution and its holders are deemed to accept the Amended
Plan.

The Impaired Classes 3, 5, 11, 12, 13, 14, 15, 19, and 20 are
entitled to vote on the Amended Plan.  Claims in Class 3 will be
satisfied, as determined by the Court, on the Effective Date,
but are deemed impaired for voting purposes.  Class 5 Claims
will be paid in cash in full on the Effective Date, but are
deemed impaired for voting purposes.

Claims in Classes 11, 12, 13, 14, 15, and 19 will receive
distribution of shares of New Common Stock or other
distributions under the terms of the Amended Plan.  Eligible
holders of Solutia common stock will receive distributions of
shares of New Common Stock, warrants, Equity Purchase Rights or
Claim Transfer Rights.

                      About Solutia Inc.

Headquartered in St. Louis, Missouri, Solutia Inc. (OTCBB:SOLUQ)
-- http://www.solutia.com/-- and its subsidiaries, engage in
the manufacture and sale of chemical-based materials, which are
used in consumer and industrial applications worldwide.
Solutia has operations in Malaysia, China, Singapore, Belgium,
and Colombia. The company and 15 debtor-affiliates filed for
chapter 11 protection on Dec. 17, 2003 (Bankr. S.D.N.Y. Case No.
03-17949).  When the Debtors filed for protection from their
creditors, they listed US$2,854,000,000 in assets and
US$3,223,000,000 in debts.

Solutia is represented by Allen E. Grimes, III, Esq., at
Dinsmore & Shohl, LLP and Conor D. Reilly, Esq., at Gibson,
Dunn & Crutcher, LLP.  Trumbull Group LLC is the Debtor's claims
and noticing agent.  Daniel H. Golden, Esq., Ira S. Dizengoff,
Esq., and Russel J. Reid, Esq., at Akin Gump Strauss Hauer &
Feld LLP represent the Official Committee of Unsecured
Creditors, and Derron S. Slonecker at Houlihan Lokey Howard &
Zukin Capital provides the Creditors' Committee with financial
advice.

On Feb. 14, 2006, the Debtors filed their Reorganization Plan &
Disclosure Statement.  On May 15, 2007, they filed an Amended
Reorganization Plan and on July 9, 2007, filed a 2nd Amended
Reorganization Plan.  The Disclosure Statement hearing began on
July 10, 2007, and is continued to Oct. 19, 2007.  (Solutia
Bankruptcy News, Issue No. 101; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)




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


MITEL NETWORKS: To Use Microsoft Office Communications Server
--------------------------------------------------------------
Mitel Networks will use the Microsoft Office Communications
Server 2007 platform including its call management capabilities
for a future generation of solutions.  Mitel optimizes Office
Communications Server 2007 to deliver a rich unified
communications experience to businesses.  Mitel is building
solutions today on Office Communications Server 2007 to focus
both on specific vertical markets and small and medium
businesses, a historical stronghold for Mitel.

Mitel has a long-standing commitment to build on the Microsoft
platform and is extending that with Office Communications Server
2007.  Microsoft and Mitel share a long-term vision of software-
powered communications.  With the announced availability of
Office Communications Server 2007, Mitel will feature its
unified communications solutions with Microsoft to provide new
and existing customers, including over 100,000 users already
addressed by the Mitel unified communications solution that
integrates with the Microsoft software, a paced, easy and
rewarding migration roadmap with a seamless software upgrade.

Mitel's vision that mission critical voice communications-based
applications must seamlessly integrate with other business
solutions to enhance the user experience and the effectiveness
of "in the moment" interactions has underpinned its relationship
with Microsoft.  Together, the companies are facilitating the
rapid integration of solutions that enable customers to evolve
their communications environment and solve common business
challenges such as dispersed teams, disjointed communications,
and complicated collaboration efforts in a global environment.

"Mitel was early to the unified communications table, first with
real-time collaboration and continues as one of Microsoft's
partners with Office Communications Server 2007," said Gurdeep
Singh Pal, corporate vice president, Unified Communications
Group, at Microsoft.  "Together, we will continue to demonstrate
the value of Mitel's solutions that integrate with Microsoft's
solutions to help customers streamline communications between
people and organizations, regardless of medium, modality,
platform, device or location."

Multimate, a large multi-state law firm in the U.S., are two of
the many Mitel customers who have benefited from the easy
integration of the Mitel 3300 IP Communications Platform (ICP),
Mitel Live Business Gateway and Microsoft to unify their
communications and improve employee productivity.

"In the competitive 'Do It Yourself' retail market, being
innovative and reliable in automation sets us apart from
competition towards our franchisers," said Jerry Otto, IT and
communications infrastructure manager, Multimate Head Office.
"The combined Microsoft Office Communications Server 2007,
Microsoft Exchange Server 2007 and Mitel IP communications with
Mitel Mobile Extension not only adds value to our centralized IT
and communications services offering, it enables co-workers from
the head office to work and communicate in a standardized way in
any of our 75 franchise outlets."

The 3300 ICP, operating as a gateway and using industry-standard
protocols, allows for a customers' legacy voice infrastructure
to benefit from the integrated unified communications solutions
of Mitel and Microsoft.  Mitel's Live Business Gateway currently
allows for the full benefits of the Microsoft Office
Communications Server 2007 to be extended to such Mitel
applications as Mobile Extension, Contact Center, Attendant
Console, Mitel 5300 Intelligent Directory and Mitel IP Phones.
These solutions are available today and are featured at
Microsoft Technology Centers.

"Mitel has been unwavering in its commitment to providing
customers with the ability to lever their Microsoft
infrastructure as a platform for enhanced office collaboration,"
said Paul Butcher, president and chief operating officer, Mitel.
"We add value to Microsoft's core applications and collaboration
suite by providing a comprehensive unified communications
solution to knowledge workers, office workgroups, and beyond,
while reaching to the specialized communications needs of
employees in vertical markets who operate away from the PC."

Mitel will be joining Microsoft for the Office Communications
2007 launch events in various locations throughout the world.

Mitel Networks Corp. -- http://www.mitel.com/-- provides
unified communications solutions and services for business
customers. Mitel's voice-centric IP-based communications
solutions consist of a combination of telephony hardware and
software that integrate voice, video and data communications
with business applications and processes.  Mitel is
headquartered in Ottawa, Canada, with offices, partners and
resellers worldwide.

The company has Latin America operations in Argentina, Brazil,
Bolivia, Chile, Costa Rica, Ecuador, El Salvador, Guatemala,
Mexico, Nicaragua, Panama, Paraguay, Peru, Puerto Rico, Uruguay
and Venezuela.

It has also operations in the United Kingdom and Indonesia.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 2, 2007, Standard & Poor's Ratings Services revised its
bank loan and recovery ratings on Ottawa, Ontario-based business
communications solutions provider Mitel Networks Corp.'s
proposed US$460 million senior secured credit facility.  The
bank loan rating on Mitel's proposed US$330 million first-lien
credit facility has been revised to 'B+', with a recovery rating
of '2', from 'BB-', with a recovery rating of '1'.




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


HILTON HOTELS: Finishing Up Renovations in Two Ecuadorian Units
---------------------------------------------------------------
Hotel information Web site HotelChatter reports that Hilton
Hotels is finishing up major renovations in its two Ecuadorian
subsidiaries.

A representative for Hilton Hotels' two units told HotelChatter
that renovation of Hilton Colon Guayaquil's 255 rooms and 39
suites cost US$3 million.  Works for the conversion of Hilton
Colon Quito's 92 of the La Pinta tower rooms into 42 suites and
the construction of a separate private lounge in the tower cost
US$2 million.

According to HotelChatter, the hotels will have these new
features:

          -- Hilton Serenity Bed,
          -- new furniture,
          -- Cuisinart coffee makers, and
          -- flat screen televisions.

Hilton Guayaquil renovations have been completed.  The Colon
Quito works should be concluded by Oct. 31, 2007, HotelChatter
states.

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.

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.


PETROECUADOR: Amazon Residents Hold Strike Against Firm
-------------------------------------------------------
Ecuadorian state-run oil firm Petroecuador told Reuters that
Amazon residents have launched a protest against the company.

Petroecuador admitted to Reuters that it has lost some 4,000
barrels of crude due to the strike.  A company spokesperson said
that dozens of villagers in Shushufindi, Sucumbios, blocked
roads leading to Petroecuador oil facilities, demanding more
jobs.  Protesters are blocking oil workers and necessary fuels
from reaching oil fields, particularly the 45,000-barrels-per-
day Shushufindi oil field and the 90,000-per-day oil Block 15.
The strike could really bring down output if it isn't resolved
soon.

The Shushufindi protesters demands weren't "viable," Ecuadorian
Energy Minister Galo Chiriboga told Reuters.

Regional demonstrations for more benefits from the government
also threaten other communities, Reuters notes, citing
Petroecuador.

The Orellana Province "prefect" Guadalupe Llori told Reuters
that residents will launch a regional strike to demand a bigger
share of the oil wealth from the state.  Part of the revenue
from a recent increase in a windfall royalty charged to foreign
oil firms must go to the province's poor communities.

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: Nine Firms Want To Represent State Against Occidental
----------------------------------------------------------------
Business News Americas reports that nine international law firms
have offered to represent the government in its lawsuit with the
U.S. oil company Occidental Petroleum in the International
Center for Settlement of Investment Disputes.

According to BNamericas, Occidental filed with the International
Center for Settlement a complaint against the Ecuadorian
government when it was stripped off of its right in block 15 in
May 2006 as a result of an unauthorized 40% transfer of its
rights and obligations to Canadian firm EnCana.  Under the
Ecuadorian law, the company's action was enough ground to
terminate its operating contract.

The attorney general said in a statement that it received bids
from these international firms:

          -- Baach, Robinson & Lewis, Weil;
          -- Gotshal & Manges;
          -- Clifford Chance;
          -- Weissberg, Gaetjens, Ziegenfeuter & Associates;
          -- Thompson Hine;
          -- Squire, Sanders & Dempsey;
          -- Heenan Blaikie;
          -- Lalive; and
          -- Shearman & Sterling.

The attorney general would disclose a winner in 20 days,
BNamericas states.

                   About Occidental Petroleum

Headquartered in Los Angeles, California, Occidental Petroleum
Corporation operates in two segments: oil and gas, and chemical.
The oil and gas segment explores for, develops, produces and
markets crude oil and natural gas.  The chemical segment
(OxyChem) manufactures and markets basic chemicals, vinyls and
performance chemicals.  The company's domestic oil and gas
operations are located at the Permian Basin in west Texas and
New Mexico, Elk Hills and other locations in California, the
Hugoton field in Kansas and Oklahoma, the Gulf of Mexico and
western Colorado.  International operations are located in
Argentina, Bolivia, Colombia, Libya, Oman, Pakistan, Qatar,
Russia (sold in January 2007), the United Arab Emirates (UAE)
and Yemen.  OxyChem manufactures and markets basic chemicals,
vinyls, chlorinated organics and performance chemicals.

                        *     *     *

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-'.




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


BRITISH AIRWAYS: CEO Says Iberia Deal is "Not Transformational"
---------------------------------------------------------------
Willie Walsh, chief executive of British Airways plc, has ruled
out further capital investment into a bid for Spanish airline
Iberia Lineas Aereas de Espana SA, the Daily Telegraph reports.

"Iberia is very interesting to us but the deal is not
transformational," Mr. Walsh was quoted by the Daily Telegraph
as saying.  "It would be beneficial but would it be wise to
spend EUR4 billion (GBP2.8 billion) acquiring Iberia when there
may be other things that come available?"

According to Mr. Walsh, British Air is eyeing a tie-up with a US
airline, although any transatlantic deal depends on the
relaxation of regulatory obstacles.

Mr. Walsh has revealed that US rules restricting foreign
carriers to only minority stakes in US airlines could be
liberalized by 2010 as a condition of the EU-US "open skies"
deal, the Daily Telegraph relates.

"A link between a European and a US carrier is
transformational," Mr. Walsh said.  "If that were possible it
would definitely be something worth chasing."

The executive insisted to keep British Air's participation in
the Iberia bid to a minority role, Alistair Osborne writes for
the Daily Telegraph.

                          Iberia Bid

British Air, which holds a 10% stake in Iberia, has joined in
May 2007 with TPG Capital, Vista Capital, Inversiones Ibersuizas
and Quercus Equity to investigate a possible consortium offer
for the Spanish carrier.

As previously reported, British Air and its private equity
partner, Texas Pacific Group, are set to cut their indicative
offer of EUR3.60 per share for Spanish airline Iberia in a move
that could derail the bid.

The consortium anticipates cost of debt amid current credit
market turmoil and the prospect of falling air fares to drag
down its original offer price to a significantly lower figure.

The consortium believes that an offer of closer to EUR3.2 per
share would be more realistic while Iberia management thinks the
Spanish carrier is worth significantly more than EUR3.60 a
share.  However, it is still uncertain whether a formal bid will
be made.

Headquartered in West Drayton, United Kingdom, British Airways
Plc -- http://www.ba.com/-- operates of international and
domestic scheduled and charter air services for the carriage of
passengers, freight and mail, and provides of ancillary
services.  The British Airways group consists of British Airways
Plc and a number of subsidiary companies including in particular

British Airways Holidays Ltd. and British Airways Travel
Shops Ltd.  BA has offices in India and Guatemala.

                        *     *     *

As reported on Aug. 16, 2007, Moody's Investors Service upgraded
the senior unsecured rating of British Airways plc to Ba1, one
notch lower than the Corporate Family Rating (upgraded to Baa3,
stable outlook), reflecting the subordination of unsecured debt
to a substantial portion of secured debt.

The debt instruments affected by the rating action are:

   -- GBP100 million 10.875% senior unsecured notes due 2008 to
      Ba1 from Ba2;

   -- GBP250 million 7.25% senior unsecured notes due 2016 to
      Ba1 from Ba2;

   -- US$115 million 5.25% and US$85 million 7.625% senior
      unsecured industrial revenue notes due 2032 to Ba1 from
      Ba2;

   -- EUR300 million 6.75% perpetual guaranteed preferred
      securities to Ba2 from Ba3 issued by British Airways
      Finance (Jersey) L.P.


GOODYEAR TIRE: Conversion Period for Conv. Notes Ends Dec. 31
-------------------------------------------------------------
The Goodyear Tire & Rubber Company's 4% Convertible Senior Notes
due June 15, 2034 are now convertible at the option of the
holders and will remain convertible through Dec. 31, 2007, the
last business day of the current fiscal quarter.

The notes became convertible because the last reported sale
price of the company's common stock for at least 20 trading days
during the 30 consecutive trading-day period ending on
Oct. 15, 2007 (the 11th trading day of the current fiscal
quarter), was greater than 120% of the conversion price in
effect on such day.  The notes have been convertible in previous
fiscal quarters.

The company will deliver shares of its common stock or pay
cash upon conversion of any notes surrendered on or prior to
Dec. 31, 2007.  If shares are delivered, cash will be paid in
lieu of fractional shares only.  Issued in June 2004, the notes
are currently convertible at a rate of 83.0703 shares of common
stock per US$1,000 principal amount of notes, which is equal to
a conversion price of US$12.04 per share.

There is approximately US$350 million in aggregate principal
amount of notes outstanding.

If all outstanding notes are surrendered for conversion, the
aggregate number of shares of common stock issued would be
approximately 29 million.  The notes could be convertible after
Dec. 31, 2007, if the sale price condition is met in any future
fiscal quarter or if any of the other conditions to conversion
set forth in the indenture governing the notes are met.

                        About Goodyear

Headquartered in Akron, Ohio, The Goodyear Tire & Rubber Company
(NYSE: GT) -- http://www.goodyear.com/-- is the world's largest
tire company.  The company manufactures tires, engineered rubber
products and chemicals in more than 90 facilities in 28
countries.  Goodyear Tire has marketing operations in almost
every country around the world including Chile, Colombia,
Guatemala, Jamaica and Peru in Latin America.  Goodyear employs
more than 80,000 people worldwide.

                        *     *     *

As reported in the Troubled Company Reporter on June 4, 2007,
Standard & Poor's Ratings Services raised its ratings on
Goodyear Tire & Rubber Co., including its corporate credit
rating to 'BB-' from 'B+'.  In addition, the ratings were
removed from CreditWatch where they were placed with positive
implications on May 10, 2007.




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


* HONDURAS: Nicaraguans Visit To Talk Bilateral Economic Issues
---------------------------------------------------------------
President Daniel Ortega of Nicaragua, together with
entrepreneurs, visits Honduran President Manuel Zelaya to
discuss bilateral interest issues, Inside Costa Rica relates.

According to published reports, the Nicaraguan president is
expected to sign economic and political agreements following the
arrival in Tegucigalpa.

The two presidents met in the Nicaraguan city of Ocotal, near
Managua, after the International Court in The Hague set the
maritime limits between the two countries on Oct. 7, Inside
Costa Rica adds.  The dispute began in the 1980s that involved
armed confrontations.  The international court's ruling gave
Nicaragua nearly 10,800 square miles from the 11,500 it was
demanding, and it gave Honduras sovereignty over four keys:
Bobel, Savanna, Port Royal and South.

                        *     *     *

Moody's Investor Service assigned these ratings on Honduras:

                     Rating     Rating Date

   Senior Unsecured    B2       Sept. 29, 1998
   Long Term IDR       B2       Sept. 29, 1998




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


ADVANCED MARKETING: Wants More Time to Decide on Remaining Lease
----------------------------------------------------------------
Advanced Marketing Services Inc., Publishers Group Incorporated,
and Publishers Group West Incorporated ask the U.S. Bankruptcy
Court for the District of Delaware to extend the time by which
they may assume or reject their sole remaining unexpired lease
of a non-residential real property, located in Indianapolis,
Indiana, with The Prudential Company of America as landlord.

The Debtors seek extension of the Lease Decision Period through
and including Oct. 31, 2007, without prejudice to their right to
seek further extensions.

Mark D. Collins, Esq., at Richards, Layton & Finger, P.A., in
Wilmington, Delaware, relates that the Court previously approved
the Debtors' assumption and assignment to Perseus Books LLC of
the leases for space in Berkeley and New York.  He also notes
that the Debtors have expressed intention to consummate that
assignment before September 30.

Under Section 365(d)(4)(B)(ii) of the Bankruptcy Code, the Court
may grant a subsequent extension "only upon prior written
consent of the lessor in each instance."

In the Debtors' cases, Mr. Collins points out, they have
obtained prior written consent of the lessor of the Indianapolis
Lease to the requested October 31 extension.

The Court will convene a hearing on October 26 at 11:00 a.m., to
consider the Debtors' request.  Pursuant to Del.Bankr.LR 9006-2,
the Debtors' Lease Decision Period with respect to the
Indianapolis Lease is automatically extended until the
conclusion of that hearing.

                   About Advanced Marketing

Based in San Diego, Calif., Advanced Marketing Services, Inc.
-- http://www.advmkt.com/-- provides customized merchandising,
wholesaling, distribution and publishing services, currently
primarily to the book industry.  The company has operations in
the U.S., Mexico, the United Kingdom and Australia and employs
approximately 1,200 people Worldwide.

The company and its two affiliates, Publishers Group
Incorporated and Publishers Group West Incorporated filed for
chapter 11 protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos.
06-11480 through 06-11482).  Suzzanne S. Uhland, Esq., Austin K.
Barron, Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers,
LLP, represent the Debtors as Lead Counsel.  Chun I. Jang, Esq.,
Mark D. Collins, Esq., and Paul Noble Heath, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors as Local Counsel.
Lowenstein Sandler PC represents the Official Committee of
Unsecured Creditors.  In schedules filed with the Court,
Advanced Marketing disclosed total assets of US$213,384,791 and
total debts of US$216,608,357.  Publishers Group West disclosed
total assets of US$39,699,451 and total debts of US$83,272,493.
Publishers Group Inc. disclosed zero assets but US$41,514,348 in
liabilities.

On Aug. 24, 2007, the Debtors' exclusive period to file a
chapter 11 plan expired.  On the same date, the Debtors and
Creditors Committee filed a Plan & Disclosure Statement.  On
September 26, the Court approved the adequacy of the Disclosure
Statement explaining the Second Amended Plan.  The hearing to
consider confirmation of the Plan is set on Nov. 15, 2007.
(Advanced Marketing Bankruptcy News, Issue No. 21; Bankruptcy
Creditors' Service Inc.; http://bankrupt.com/newsstand/or
215/945-7000)


CROWN HOLDINGS: Reports 19.6% Profit Growth for Third Quarter
-------------------------------------------------------------
Crown Holdings, Inc.'s net sales rose to US$2,153 million, up
7.6% for the third quarter and nine months ended Sept. 30, 2007.

                    Third Quarter Results

Net sales in the third quarter rose to US$2,153 million, up 7.6%
over the US$2,001 million in the third quarter of 2006.  The
increase was primarily driven by higher sales unit volumes, the
pass-through of higher raw material costs and favorable foreign
currency translation.

Third quarter gross profit grew 19.6% to US$311 million over the
US$260 million in the 2006 third quarter.  As a percentage of
net sales, gross profit expanded to 14.4% in the third quarter
from 13.0% in the third quarter last year.  Stronger sales unit
volumes, increased operating efficiencies and greater
productivity drove the improvements.

Selling and administrative expense in the third quarter was
US$97 million compared to US$77 million in last year's third
quarter.  The increase is attributable to a higher accrual for
incentive compensation costs, foreign currency translation and
general inflationary increases.

Segment income grew to US$214 million in the third quarter, up
16.9% over the US$183 million in the 2006 third quarter.
Segment income as a percentage of net sales expanded to 9.9% in
the third quarter over the 9.1% in the third quarter last year.

Commenting on the results, John W. Conway, Chairman and Chief
Executive Officer, stated, "Our improved third quarter
demonstrates the strength of Crown's diverse range of products,
customers and worldwide markets.  The results were fueled by
improved performance in virtually all of our businesses.  Global
volumes were firm reflecting the growing contribution of
emerging markets to our portfolio.  Importantly, we also gained
traction among brand managers who are actively looking for
unique and sustainable packaging solutions to distinguish their
products while increasing their ease of use for consumers.  Our
proprietary can shaping technologies, PealSeam(TM) ends and
enhanced finishes are setting industry standards for Brand-
Building Packaging(TM)."

Interest expense in the third quarter was US$79 million compared
to US$73 million in the third quarter of 2006. The increase
reflects the impact of higher average short-term borrowing rates
and foreign currency translation.

Net income from continuing operations in the third quarter was
US$92 million, or US$0.56 per diluted share, compared to US$86
million, or US$0.51 per diluted share in the third quarter of
2006.

Included within net income from continuing operations, the
company recorded a net charge of US$5 million, or US$0.03 per
diluted share, which reflects a net charge of US$8 million
related to restructuring actions offset by a net gain of US$3
million related to gains on sales of assets.  The net charge of
US$8 million for restructuring relates primarily to a net US$7
million charge for the closure and exit of operations of the
company's crown (bottle cap) operations in Indonesia.  Within
the US$7 million charge, 6 million is attributable to a non-cash
reclassification of cumulative translation adjustments to income
from a separate component of shareholders' equity.

The company repurchased 4,828,883 shares of common stock for
US$118 million during the third quarter, including 4,088,068
shares through a previously announced accelerated share
repurchase program which is expected to be completed in
November.  The number of common shares outstanding as of
Sept. 30, 2007, was 159,611,833, which is approximately 3% lower
than as at June 30, 2007.

Net debt increased by US$18 million from June 30, primarily as
the result of the repurchase of US$118 million of common stock
and US$55 million from foreign currency translation offset by
US$152 million of free cash flow in the third quarter.

                     Nine-Month Results

For the first nine months of 2007, net sales grew 10.4% to
US$5.9 billion over the US$5.3 billion in the first nine months
of 2006.  The increase reflects higher sales unit volumes, the
pass-through of higher raw material costs and foreign currency
translation.

Gross profit for the nine-month period improved 16.8% to US$807
million, or 13.8% of net sales, over the US$691 million, or
13.0% of net sales in the first nine months of 2006.  The
increase was driven by stronger sales unit volumes and increased
operating efficiencies and productivity gains.

Segment income in the first nine months of 2007 increased 13.7%
to US$522 million over the US$459 million in the first nine
months of 2006.  Segment income as a percentage of net sales
improved to 8.9% in the first nine months of 2007 compared to
8.7% for the same period last year.

For the first nine months of 2007, interest expense was US$232
million compared to US$210 million for the same period last
year.  The increase reflects higher short-term borrowing rates
and foreign currency translation in the first nine months of
2007 compared to the first nine months of 2006.

The company reported net income from continuing operations of
US$196 million, or US$1.18 per diluted share, for the nine month
period ended Sept. 30, 2007 over net income from continuing
operations of US$172 million, or US$1.01 per diluted share for
the same period in 2006.

In the first nine months of 2007, the company recorded a net
charge of US$1 million, or US$0.01 per diluted share, reflecting
a net charge of US$12 million related to restructuring actions
offset by a net gain of US$11 million related to gains on sales
of assets.  For the first nine months of 2006, the company
recorded a net charge to net income from continuing operations
of US$4 million, or US$0.02 per diluted share, related to
restructuring charges offset by a gain on sale of assets and
financial foreign exchange gains.

                       Non-GAAP Measures

Segment income, free cash flow and net debt are not defined
terms under U.S. generally accepted accounting principles (non-
GAAP measures).  Non-GAAP measures should not be considered in
isolation or as a substitute for net income, cash flow and net
debt data prepared in accordance with GAAP and may not be
comparable to calculations of similarly titled measures by other
companies.

The company views segment income and free cash flow as the
principal measures of performance of its operations and for the
allocation of resources.  The company believes net debt is a
useful measure of the company's debt levels.  Segment income,
free cash flow and net debt are derived from the company's
Consolidated Statements of Operations, Cash Flows and
Consolidated Balance Sheets, respectively, and reconciliations
to segment income and free cash flow can be found within this
release.

                     About Crown Holdings

Philadelphia-based Crown Holdings Inc. (NYSE: CCK) --
http://www.crowncork.com/-- through its affiliated companies,
supplies packaging products to consumer marketing companies
around the world.  In Latin America, the company has operations
in Mexico, and in South and Central America.   The company also
maintains operations in Europe, particularly in the United
Kingdom and France.  In the Asia-Pacific region, the company has
an office in Singapore.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 10, 2007, Fitch Ratings has affirmed the ratings for Crown
Holdings, Inc., and its subsidiaries Crown Cork & Seal Company,
Inc., Crown Americas, LLC, and Crown European Holdings, SA as:

Crown:

  -- Issuer Default Rating 'B+'.

Crown Cork:

  -- IDR 'B+';
  -- Senior unsecured notes 'B/Recovery Rating (RR) of RR5'.

Crown Americas:

  -- IDR 'B+';
  -- Senior secured dollar term facility 'BB+/RR1';
  -- Senior secured dollar-revolving facility 'BB+/RR1';
  -- Senior unsecured notes 'B+/RR4';

Crown European:

  -- IDR 'B+';
  -- Senior secured euro term facility 'BB+/RR1';
  -- Senior secured euro-revolving facility 'BB+/RR1';
  -- Senior secured euro 1st priority notes 'BB+/RR1';

Approximately US$3.5 billion of debt is covered by the ratings.
Fitch said the ratings outlook is stable.


DOMINO'S PIZZA: Reports US$11 Million Third Quarter Net Income
--------------------------------------------------------------
Domino's Pizza, Inc. reported US$11.0 million net income for the
third quarter ended Sept. 9, 2007.  Net income was negatively
impacted versus the prior year by increased interest expense as
a result of higher borrowings under the company's new debt
facility and a continued challenging domestic environment.  The
International same store sales growth of 8.3% during the
quarter, its highest in nearly three years, marked the 55th
consecutive quarter of International same store sales growth.

David A. Brandon, Domino's Chairman and Chief Executive Officer,
said:  "Unprecedented cost pressures and a weak consumer
environment negatively impacted our domestic results in the
quarter, which made striking the right balance between
increasing prices, while operating in a period of declining
traffic, very difficult.  Our Team USA stores did the best job
of managing this challenge, and we continue to share our results
and tactics with our franchise organization to assist and
support them.  We are not standing idly by while we face these
challenges, as our recently announced management changes and
selection of a new creative agency demonstrate.  The elevation
of Patrick Doyle to President of Domino's U.S.A. is a great help
to me as we bring intense focus to our domestic sales
challenges.  We're also very excited that our new creative
agency, Crispin Porter + Bogusky, will bring some fresh
advertising and unique perspective to our brand message going
forward."

Mr. Brandon continued:  "We are proud of our International
division for leading the way with tremendous results and their
best sales showing since the first quarter of 2005.  We are
clearly navigating through a very challenging period for our
company.  However, I believe the inherent strength of our
highly- resilient business model; our new leadership structure;
our new advertising agency; our strong international growth and
expansion; and our culture of perseverance and doing what it
takes to WIN will bode well for the future growth and success of
our company."

The company reported that its Board of Directors has approved
moving forward on a three-year employment agreement for Mr. Dave
Brandon through 2010 at its October 11th meeting.  The company
and Mr. Brandon are in the process of negotiating the terms of
that agreement.

                      Share Repurchases

As previously communicated, the Board of Directors approved an
open market share repurchase program for up to US$200 million of
the company's common stock.  During the third quarter of 2007,
the company repurchased and retired approximately 1.1 million
shares of its common stock under the open market share
repurchase program for approximately US$18.0 million, or an
average price of US$17.08 per share.

                 Items Affecting Comparability

The company's reported financial results for the first three
quarters of 2007 as well as the third quarter and first three
quarters of 2006, included several items that affect the
comparability to the reported financial results in the same
periods in the prior year, including:

(i)   the impact of the company's re-capitalization, which was
       completed in April 2007,

(ii)  the 2007 impact of the reserve recorded in the second
       quarter in connection with legal matters in California,
       and

(iii) the 2006 impact of the sale of company-owned France and
       Netherlands operations.

                            Liquidity

As of September 9, 2007, the company had:

-- US$1.7 billion in total debt,

-- US$114.9 million of cash and cash equivalents,

-- no borrowings under its US$150.0 million revolving credit
    facility and,

-- letters of credit issued under its revolving credit
    facility of US$30.7 million.

The company's cash borrowing rate for the third quarter of 2007
was 6.1%.  The company incurred US$12.7 million in capital
expenditures during the first three quarters of 2007 versus
US$14.8 million in the first three quarters of the prior year.

                  Comments on Regulation G

In addition to the GAAP financial measures set forth in this
press release, the company has included a non-GAAP financial
measure within the meaning of Regulation G due to items
affecting comparability between fiscal quarters.  Additionally,
the company has included metrics commonly used in the quick-
service restaurant industry that are important to understanding
company performance.

The company uses "Diluted EPS, as adjusted," which is calculated
as reported Diluted EPS less the items that affect comparability
to the prior year periods discussed above.  The most directly
comparable financial measure calculated and presented in
accordance with GAAP is Diluted EPS.  The company's management
believes that the Diluted EPS, as adjusted measure is important
and useful to investors and other interested persons and that
such persons benefit from having a consistent basis for
comparison between reporting periods.

The company uses "Global retail sales" to refer to total
worldwide retail sales at company-owned and franchise stores.
Management believes global retail sales information is useful in
analyzing revenues, because franchisees pay royalties that are
based on a percentage of franchise retail sales.  Management
reviews comparable industry global retail sales information to
assess business trends and to track the growth of the Domino's
Pizza(R) brand.  In addition, distribution revenues are directly
impacted by changes in domestic franchise retail sales.  Retail
sales for franchise stores are reported to the company by its
franchisees and are not included in company revenues.

The company uses "Same store sales growth," calculated including
only sales from stores that also had sales in the comparable
period of the prior year.  International same store sales growth
is calculated similarly to domestic same store sales growth.
Changes in international same store sales are reported on a
constant dollar basis, which reflects changes in international
local currency sales.

                     About Domino's Pizza

Headquartered in Ann Arbor, Michigan, Domino's Pizza Inc. (NYSE:
DPZ) -- http://www.dominos.com/-- through its primarily
franchised system, operates a network of 8,190 franchised and
company-owned stores in the U.S. and more than 50 countries.
Founded in 1960, the company has more than 500 stores in Mexico.
The Domino's Pizza(R) brand, named a Megabrand by Advertising
Age magazine, had global retail sales of nearly US$5 billion in
2005, comprised of US$3.3 billion domestically and US$1.7
billion internationally.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 8, 2007, Domino's Pizza Inc.'s balance sheet as of
June 17, 2007, showed total assets of US$474.1 million, total
liabilities of US$1.9 billion, and total stockholders' deficit
of US$1.4 billion.

As of June 17, 2007, the company had US$1.7 billion of debt, of
which US$300,000 was classified as a current liability.
Additionally, as of June 17, 2007, the company had borrowings of
US$114.3 million available under its US$150 million revolving
credit facility, net of letters of credit issued of US$30.7
million and US$5 million of borrowings on the variable funding
notes.  The letters of credit are primarily related to the
company's casualty insurance programs and distribution center
leases.


DURA AUTOMOTIVE: Wants John Knappenberger Separation Pact Okayed
----------------------------------------------------------------
DURA Automotive Systems Inc. and its debtor-affiliates ask the
U.S. Bankruptcy Court for the District of Delaware to approve a
separation agreement between Dura Automotive Systems, Inc., and
former Vice President of Administration, Quality and Materials
John J. Knappenberger.

Mr. Knappenberger joined the company approximately 14 years ago.
Since December 1995, Mr. Knappenberger has served as the Vice
President of Administration and the Vice President of Quality
and Materials of Dura.  Mr. Knappenberger also assumed
responsibility for the administration of the Debtors'
purchasing, sales and marketing operations in June 1997.

Mr. Knappenberger also managed the Debtors' information
technology operations in March 1999, including the Debtors'
Enterprise Resource Planning and QAD Implementation Initiative
-- a software program designed to centralize and streamline the
Debtors' administrative functions and to unify the Debtors'
time-worked tracking and attendance system and the Debtors'
manufacturing tracking system.  This, by centralizing and
streamlining many of the Debtors' administrative functions,
enables the Debtors to more closely track projected expenses and
manufacturing activities.

The Debtors and Mr. Knappenberger recently agreed to end his
employment with the Debtors, and agreed to a Separation
Agreement.  Its pertinent terms are:

  (a) Effective Date: November 1, 2007.

  (b) Consideration:

        (i) The Debtors agreed to pay Mr. Knappenberger,
            pursuant to their general policy, an amount equal to
            the accrued, but unused, vacation time earned during
            his employment with the Debtors, to the extent
            permitted by applicable bankruptcy and
            non-bankruptcy law; and

       (ii) The Debtors agreed to pay Mr. Knappenberger an
            additional US$125,000 in exchange for the
            performance of his various Non-Competition, Non-
            Solicitation, Non-Disclosure and Non-Disparagement
            obligations.

  (c) Non-Compete, Non-Solicitation, Non-Disclosure, and Non-
      Disparagement Obligations.

        (i) Mr. Knappenberger agreed, separately, to abide by
            the Non-Competition, Non-Disparagement,
            Non-Solicitation and Non-Disclosure provisions of
            the Separation Agreement, through November 1, 2008.
            Specifically,

            (A) Non-Competition -- Mr. Knappenberger will not,
                directly or indirectly,

                (1) become employed by, consult for, provide or
                    arrange financing for, or own any interest
                    in, any company that is in the same business
                    or substantially the same business as the
                    Company and its affiliates and is a direct
                    competitor of the Company or its affiliates;
                    provided, however, that Mr. Knappenberger
                    may own not more than five percent of any
                    class of publicly traded securities of any
                    legal entity engaged in a Competing
                    Business; or

                (2) participate in any manner in the Chapter 11
                    bankruptcy cases involving the company;
                    provided, however, that, consistent with his
                    confidentiality obligations under the
                    agreement, Mr. Knappenberger may be employed
                    by parties with an interest in the company's
                    Chapter 11 cases so long as his duties do
                    not involve the company; provided further
                    that the prospective employer affirmatively
                    screens him from any and all matters
                    involving the company or its Chapter 11
                    cases during the duration.

            (B) Non-Solicitation -- For the Duration,
                Mr. Knappenberger will not directly or
                indirectly through another person or entity,
                other than in the ordinary course of his
                employment with the company or any of its
                affiliates:

                (1) induce or attempt to induce any employee of
                    the company or any affiliate to leave the
                    employ of the company or the affiliate, or
                    in any way interfere with the relationship
                    between the company or any affiliate and any
                    employee thereof, or

                (2) any affiliate at any time during the 12-
                    month period immediately preceding the date
                    of the intended hire or

                (3) induce or attempt to induce any customer,
                    supplier, licensee, licensor or other
                    business relation of the company or any
                    affiliate to cease doing business with the
                    company or the affiliate, or in any way
                    interfere with the relationship between any
                    such customer, supplier, licensee, licensor
                    or other business relation and the Company
                    or any affiliate; including, without
                    limitation, making any negative or
                    disparaging statements or communications
                    regarding the company or its affiliates.

            (C) Non-Disparagement -- For the Duration,

                (1) Mr. Knappenberger will not make any oral or
                    written statement or publication with
                    respect to the company or its affiliates or
                    any stockholders, directors,officers,
                    employees, lenders or their respective
                    affiliates, which disparages or denigrates,
                    or could reasonably be interpreted as,
                    disparaging or denigrating, the company or
                    any of its affiliates or any stockholders,
                    directors, officers, employees, lenders or
                    their respective affiliates.

                (2) the company's officers will not directly or
                    indirectly, make any oral or written
                    statement or publication with respect to the
                    Employee, which disparages or denigrates, or
                    could reasonably be interpreted as,
                    disparaging or denigrating, the Employee.

            (D) Non-Disclosure -- Mr. Knappenberger will keep in
                strict confidence, and will not, at any time,
                disclose, furnish, disseminate, make available,
                use or suffer to be used in any manner, any
                confidential information of the company;
                provided, however,  that he will not be
                precluded from disclosing Confidential
                Information pursuant to, or as required by, law,
                subpoena, judicial process or to any
                governmental agency in connection with any
                investigation or proceeding of the agency.

            (E) Upon the Effective Date, Mr. Knappenberger will
                deliver to the company all memoranda, notes,
                plans, records, reports, computer files, disks
                and tapes, printouts and software and other
                documents and data, and their copies embodying
                or relating to Confidential Information or the
                business of the company or any affiliates which
                Mr. Knappenberger may then possess or have under
                his control.

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 company has three locations in Asia -- China, Japan
and Korea.  It has locations in Europe and Latin America,
particularly in Mexico, Germany and the United Kingdom.

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.  On Aug. 22, 2007, the Debtors' filed their Plan
of Reorganization and the Disclosure Statement explaining that
Plan was approved on Oct. 3, 2007.  The hearing to consider
confirmation of the plan is set for Nov. 26, 2007.  (Dura
Automotive Bankruptcy News, Issue No. 34 Bankruptcy Creditors'
Service Inc., http://bankrupt.com/newsstand/or 215/945-7000)


GLOBAL POWER: Wants Court to Approve Plan Support Agreement
-----------------------------------------------------------
Global Power Equipment Group Inc. and its debtor-affiliates ask
the U.S. Bankruptcy Court for the District of Delaware to
approve an agreement in support of the Debtors' Joint Chapter 11
plan of Reorganization.  The agreement was entered into by the
Debtors, the Official Committee of Unsecured Creditors, the
Official Committee of Equity Security Holders, and holders of
100% of Global Power's 4.25% Convertible Senior Subordinated
Notes.

The Debtors relate that the Plan Support Agreement contemplates
and provides the basis for the Parties' support for confirmation
and consummation of the Plan and is based on a rights offering
on private placement of up to US$90 million.  The proceeds of
which, the Debtors say, will be used to fund the Plan.  The
rights offering and private placement will be memorialized in a
Backstop Stock Purchase Agreement, the Debtors add.

The Court has set a hearing for October 24 to consider the
Debtors' request.

                       About Global Power

Headquartered in Oklahoma, Global Power Equipment Group Inc.
(Pink Sheets: GEGQQ) -- http://www.globalpower.com/-- is a
design, engineering and manufacturing firm providing an array of
equipment and services to the energy, power infrastructure and
process industries.  The company designs, engineers and
manufactures a comprehensive portfolio of equipment for gas
turbine power plants and power-related equipment for industrial
operations, and has over 40 years of power generation industry
experience.  The company's equipment is installed in power
plants and in industrial operations in more than 40 countries on
six continents.  In addition, the company provides routine and
specialty maintenance services to nuclear, coal-fired, fossil,
and hydroelectric power plants and other industrial operations.

The company has facilities in Plymouth, Minnesota; Tulsa,
Oklahoma; Auburn, Massachusetts; Atlanta, Georgia; Monterrey,
Mexico; Shanghai, China; Nanjing, China; and Heerleen, The
Netherlands.

The company filed for chapter 11 protection on Sept. 28, 2006
(Bankr. D. Del. Case No. 06-11045).  Thomas E. Lauria, Esq.,
Matthew C. Brown, Esq., Gerard Uzzi, Esq., John Cunningham,
Esq., and Frank Eaton, Esq., at White & Case LLP; and Jeffrey M.
Schlerf, Esq., Eric M. Sutty, Esq., and Mary E. Augustine, Esq.,
at The Bayard Firm, represent the Debtors.  Kurtzman Carson
Consultants LLC acts as the Debtors' noticing and claims agent.
At Oct. 31, 2006, Global Power's balance sheet showed total
assets of US$177,758,000 and total debts of US$99,017,000

Jeffrey S. Sabin, Esq., and David M. Hillman, Esq., at Schulte
Roth & Zabel LLP; and Adam G. Landis, Esq., and Kerri K.
Mumford, Esq., at Landis Rath & Cobb LLP, represent the Official
Committee of Unsecured Creditors.  Howard L. Siegel, Esq., and
Steven D. Pohl, Esq., at Brown Rudnick Berlack Israels LLP
represent the Official Committee of Equity Security Holders.


GLOBAL POWER: Exclusive Plan-Filing Period Extended to Oct. 24
--------------------------------------------------------------
The Hon. Brendan Linehan Shannon of the U.S. Bankruptcy Court
for the District of Delaware issued a sixth bridge order
extending Global Power Equipment Group Inc. and its debtor-
affiliates' exclusive period to file a chapter 11 plan of
reorganization to Oct. 24, 2007.  Judge Shannon also extended
the Debtors' exclusive period to solicit acceptances of that
plan to Dec. 24, 2007.

Headquartered in Oklahoma, Global Power Equipment Group Inc.
(Pink Sheets: GEGQQ) -- http://www.globalpower.com/-- is a
design, engineering and manufacturing firm providing an array of
equipment and services to the energy, power infrastructure and
process industries.  The company designs, engineers and
manufactures a comprehensive portfolio of equipment for gas
turbine power plants and power-related equipment for industrial
operations, and has over 40 years of power generation industry
experience.  The company's equipment is installed in power
plants and in industrial operations in more than 40 countries on
six continents.  In addition, the company provides routine and
specialty maintenance services to nuclear, coal-fired, fossil,
and hydroelectric power plants and other industrial operations.

The company has facilities in Plymouth, Minnesota; Tulsa,
Oklahoma; Auburn, Massachusetts; Atlanta, Georgia; Monterrey,
Mexico; Shanghai, China; Nanjing, China; and Heerleen, The
Netherlands.

The company filed for chapter 11 protection on Sept. 28, 2006
(Bankr. D. Del. Case No. 06-11045).  Thomas E. Lauria, Esq.,
Matthew C. Brown, Esq., Gerard Uzzi, Esq., John Cunningham,
Esq., and Frank Eaton, Esq., at White & Case LLP; and Jeffrey M.
Schlerf, Esq., Eric M. Sutty, Esq., and Mary E. Augustine, Esq.,
at The Bayard Firm, represent the Debtors.  Kurtzman Carson
Consultants LLC acts as the Debtors' noticing and claims agent.
At Oct. 31, 2006, Global Power's balance sheet showed total
assets of US$177,758,000 and total debts of US$99,017,000

Jeffrey S. Sabin, Esq., and David M. Hillman, Esq., at Schulte
Roth & Zabel LLP; and Adam G. Landis, Esq., and Kerri K.
Mumford, Esq., at Landis Rath & Cobb LLP, represent the Official
Committee of Unsecured Creditors.  Howard L. Siegel, Esq., and
Steven D. Pohl, Esq., at Brown Rudnick Berlack Israels LLP,
represent the Official Committee of Equity Security Holders.


HOST HOTELS: Fitch Lifts Issuer Default Rating to BB+ from BB
-------------------------------------------------------------
Fitch Ratings has upgraded these ratings of Host Hotels &
Resorts, Inc. and its principal operating subsidiary, Host
Hotels & Resorts, L.P.:

Host Hotels & Resorts, Inc.

-- Issuer Default Rating to 'BB+' from 'BB';
-- Preferred Stock to 'BB' from 'B+'.

Host Hotels & Resorts, L.P.

-- IDR to 'BB+' from 'BB';
-- Bank credit facility to 'BB+' from 'BB';
-- Senior unsecured notes to 'BB+' from 'BB';
-- Exchangeable senior unsecured debentures to 'BB+' from 'BB'.

Fitch's rating action affects approximately US$4.2 billion of
securities.  The Rating Outlook is Stable.

Fitch's upgrades center on substantial improvements in Host's
credit metrics over the past year. Host's debt-to-recurring
EBITDA ratio has decreased due to a variety of factors including
the consideration offered in connection with the April 2006
Starwood Hotels & Resorts Worldwide, Inc. asset transaction,
common stock offerings in March and July 2007, and increases in
EBITDA in 2007 resulting from revenue per available room and
average daily rate growth. Fitch debt-to-recurring EBITDA for
the twelve months ending Sept. 7, 2007 was 4.0 times, a level
appropriate for the 'BB+' senior unsecured debt rating.

Host's credit profile has also improved with respect to debt
service coverage ratios.  The company's fixed charge coverage
ratio was 2.5 for the twelve months period ended Sept. 7, 2007,
due to solid operating performance in multiple regions such as
the mid-Atlantic (including Philadelphia and New York City) and
the Mountain region (including Denver).  In recent quarters,
healthy demand among both transient business travelers and
leisure travelers has contributed to positive operating results
for Host.  For all operating hotels, RevPAR was up 6.8% for the
year-to-date-period ended Sept. 7, 2007 when compared to the
same period one year prior, while ADR was up 6.4% during that
period on a year-over-year basis.  Additionally, rising food and
beverage revenues and lower operating expenses have strengthened
the company's ability to cover its fixed charges.

Furthermore, Host's liquidity position has improved in 2007.
Fitch views favorably the fact that Host prepaid mortgage debt
on several properties in April 2007 and defeased a commercial
mortgage-backed securities loan secured by eight properties in
May 2007.  Fitch estimates that Host's unencumbered asset
coverage of unsecured debt was 2.7 as of Sept. 7, 2007,
appropriate for a 'BB+' rated lodging Real Estate Investment
Trust.  Moreover, as of Sept. 7, 2007, the company had full
capacity under its US$600 million bank facility and US$559
million of cash on hand.

While Fitch's upgrades point to several of Host's credit
strengths, Fitch acknowledges several offsetting factors.
Namely, by definition, Host's business is focused on a
historically volatile property type relative to other commercial
real estate asset classes.  In addition, the company's sizeable
capital expenditure program may temper fixed charge coverage
ratios in the near term. Finally, Fitch notes the company's
brand concentration with respect to revenues from Marriott brand
hotels, as well as a relatively short operating history with
assets acquired from Starwood.

The one-notch difference between Host L.P.'s senior debt rating
and Host's preferred stock rating is supported by the fact that
Host's preferred stock (US$100 million as of Sept. 7, 2007) is a
relatively small component of undepreciated book capital.
Therefore, differences between subordination levels of senior
unsecured debt and preferred stock are quite low, and Fitch
believes that probability of default on Host L.P.'s senior debt
is slightly lower than probability of default on Host's
preferred stock.

The Stable Rating Outlook reflects Fitch's favorable industry
supply/demand outlook for at least the next 18-24 months, which
should bode well for Host to continue to achieve solid RevPAR
growth.

As Host moves up the credit curve, Fitch will look for Host to
perform well to the extent that hotel demand continues to be
robust and to the extent that the hotel operating environment
remains favorable.  In addition, during the coming reporting
periods, Fitch will look for Host to manage unencumbered asset
coverage of unsecured debt to levels recently demonstrated.
Finally, Fitch will closely monitor whether Host continues to
maintain healthy liquidity from its credit facility and cash on
hand.  The encumbering of operating properties or a material
incurrence of on-balance sheet secured debt would likely hinder
the company's ability to become investment-grade.  In addition,
Host's credit ratings may come under pressure if the company
initiates a sizeable debt-funded share repurchase program that
increases leverage.

Host Hotels & Resorts, Inc. -- http://www.hosthotels.com/--
(NYSE:HST) is a lodging real estate investment trust and owns
luxury and upper upscale hotels.  The company currently owns 121
properties with approximately 64,000 rooms, and also holds a
minority interest in a joint venture that owns seven hotels in
Europe with approximately 2,700 rooms.  Guided by a disciplined
approach to capital allocation and aggressive asset management,
the company partners with premium brands such as Marriott(R),
Ritz-Carlton(R), Westin(R), Sheraton(R), W(R), St. Regis(R), The
Luxury Collection(R), Hyatt(R), Fairmont(R), Four Seasons(R),
Hilton(R) and Swissotel(R) in the operation of properties in
over 50 major markets worldwide, including Mexico and Italy.


LIBBEY INC: Paying US$0.025 Per Share Cash Dividend on Nov. 13
--------------------------------------------------------------
Libbey Inc.'s Board of Directors has declared the company's
quarterly cash dividend of US$0.025 cents per share.  The
dividend will be paid on Nov. 13, 2007, to shareholders of
record as of Oct. 29, 2007.  As of Oct. 12, 2007, Libbey had
14,396,319 shares outstanding.

Based in Toledo, Ohio, Libbey Inc. -- http://www.libbey.com/
-- operates glass tableware manufacturing plants in the United
States in Louisiana and Ohio, in Mexico, Portugal and the
Netherlands.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Oct. 3, 2006, In connection with Moody's Investors Service's
implementation of its new Probability-of-Default and Loss-Given-
Default rating methodology for the U.S. Consumer Products
sector, the rating agency confirmed its B2 Corporate Family
Rating for Libbey Glass Inc., and its B2 rating on the company's
US$306 million senior secured notes due 2011.  Additionally,
Moody's assigned an LGD3 rating to the notes, suggesting
noteholders will experience a 49% loss in the event of a
default.


METROFINANCIERA SA: Issuing US$90 Million Mortgage-Backed Bonds
---------------------------------------------------------------
Metrofinanciera will issue US$90 million of mortgage-backed
bonds that should be priced in November 2007, Business News
Americas reports, citing a source familiar with the transaction.

The source told BNamericas that the transaction was originally
set for October 2007.  However, it was postponed to November.

BNamericas relates that the securities will be offered on the
local and international markets.  Mexico City-based IXE will be
the sole placement agent for the offering in Mexico.  Deutsche
Bank will be Metrofinanciera's placement agent for the
international offering.

According to BNamericas, home loans backing the bonds carry
mortgage insurance from:

          -- US Genworth,
          -- United Guaranty, and
          -- Mexico's SHF.

The privately held Metrofinanciera is Mexico's fourth largest
specialized housing lending company, with a portfolio of MXN13.3
billion (USUS$1.25billion) under administration at the end of
2005.  Founded in 1996 by local businessmen, the Monterrey-based
lender has developed a network of six regional offices and 50
branches that operates nationwide.

As reported in the Troubled Company Reporter-Latin America on
July 30, 2007, Standard & Poor's Ratings Services affirmed its
'B+' long-term counterparty credit rating on Metrofinanciera
S.A. de C.V. SOFOM E.N.R.  At the same time, S&P affirmed its
'CCC+' rating on Metrofinanciera's perpetual noncumulative
subordinated step-up securities.  S&P said the outlook is
negative.


PARKER DRILLING: Schedules Earnings Call on November 7
------------------------------------------------------
Parker Drilling Company will host a conference call on Nov. 7 at
10:00 a.m. CT to discuss its third quarter 2007 financial
results.  The company will release its earnings report that
morning prior to the call.

The call will be available via dial in or webcast from the
company's site. A replay can be accessed from November 7 through
November 14 by dial-in.  It will also be archived on the
company's site for twelve months.

Parker Drilling employs around 3,000 people worldwide and has 46
marketed rigs.

                    About Parker Drilling

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

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Oct. 4, 2007, Standard & Poor's Ratings Services has raised its
corporate credit rating on oil and gas contract driller Parker
Drilling Co. to 'B+' from 'B'.  At the same time, S&P has raised
the issue ratings on Parker's senior and convertible notes to
'B+' from 'B-'.  These consist of its US$125 million 2.125%
convertible notes due 2012, and US$225 million 9.625% senior
notes due 2013.


RYERSON INC: Shareholders Okay Merger Deal with Platinum Equity
---------------------------------------------------------------
Ryerson Inc. stockholders has approved the merger agreement
providing for the acquisition of the company by affiliates of
Platinum Equity, LLC, at a special stockholders' meeting held on
Oct. 17.

Ryerson also announced that the Canadian Competition Bureau has
provided clearance of the proposed acquisition.  The Canadian
Competition Bureau's clearance was received on Oct. 15, 2007.

Subject to the satisfaction or waiver of the remaining closing
conditions, Ryerson expects the transaction to close on or about
Oct. 19, 2007.  Upon the closing of the transaction, Ryerson
will become a wholly owned subsidiary of Rhombus Holding
Corporation, and the Company's common stock will no longer be
listed on the New York Stock Exchange.  Rhombus Holding
Corporation is owned by a private investment fund or funds
affiliated with Platinum Equity, LLC. In connection with the
closing, Ryerson expects that its shares of common stock will
cease trading on the New York Stock Exchange effective as of the
close of the market on Oct. 18, 2007.

                       About Ryerson Inc.

Headquartered in Chicago, Illinois, Ryerson Inc. (NYSE: RYI)
-- http://www.ryerson.com/-- is a distributor and processor of
metals in North America.  The company services customers through
a network of service centers across the United States and in
Canada, Mexico, India, and China.

                         *     *     *

As reported in the Troubled Company Reporter on Sept. 28, 2007,
Standard & Poor's Ratings Services affirmed its ratings on
Ryerson Inc., including its 'B+' corporate credit rating.  S&P
removed all ratings from CreditWatch, where they had been placed
with negative implications on July 24, 2007, after the company
after it has agreed to be acquired by Platinum Equity for around
US$2 billion.


SPANSION INC: Posts Lower Operating Loss for Third Quarter
----------------------------------------------------------
Spansion Inc. reported net sales of US$611 million for the
quarter ended Sept. 30, 2007, compared to net sales of US$609
million in the second quarter of 2007.

Gross margin for the third quarter of 2007 rose slightly
sequentially to 18 percent.  Spansion reduced its operating loss
to US$59 million in the third quarter, a reduction of 9 percent
compared to the second quarter of 2007.  Net loss for the third
quarter of 2007 was US$72 million, or US$0.53 per share,
compared with a net loss of US$67 million, or US$0.50 per share,
in the second quarter of 2007, which included a one-time gain on
the sale of real estate.

"ASPs have stabilized, reversing the steep decline we saw in the
first half of the year and our book to bill is extremely strong
at 1.3, driven by the wireless division," said Bertrand Cambou,
president and Chief Executive Officer, Spansion Inc.  "The
strong backlog is the result of the continued share gains of our
90nm MirrorBit(R) Flash memory solutions."

The company's Consumer, Set Top Box and Industrial Division
achieved record sales of US$294 million, up from US$272 million
in net sales in the second quarter of 2007, resulting in further
share gains.  For the first time since the third quarter of
2006, the CSID division experienced a firming ASP per bit due to
a more balanced supply and demand environment.  Shipments of
high-density MirrorBit solutions increased again in the quarter.

In the Wireless Solutions Division, net sales for the third
quarter declined sequentially from US$338 million to US$317
million due to a prior inventory build up in the Japanese
handset market, resulting in a US$40 million impact.  Revenue in
the WSD business outside Japan grew significantly, up by US$20
million sequentially due to increased sales at the top five
handset OEMs. Outside Japan, ASP per bit was firming.  Worldwide
unit shipments increased from 82 million to 96 million units in
the third quarter.  The company expects its wireless business to
capitalize on the strong seasonal trends typical in the fourth
quarter of the year.

                    Additional Highlights

-- Spansion announced that it has started production of
    MirrorBit technology at 65nm on 300mm wafers at its
    Spansion 1 facility in Japan, with plans to ship 65nm
    products to customers by the end of the year.

-- The company announced that its MirrorBit NOR Flash memory
    was pre-qualified on MediaTek's reference design platforms
    for mainstream handsets in China.

-- Spansion announced it has signed a definitive merger
    agreement to acquire Saifun Semiconductors Ltd to
    consolidate all MirrorBit IP, design and manufacturing
    expertise into a single company.  The combination will
    enable Spansion to expand operating margins, diversify
    its product portfolio and drive the company's entry into
    new markets.  Upon closing, Saifun will operate as a wholly
    owned subsidiary, responsible for driving the new IP
    licensing and royalty business for Spansion.

                       Current Outlook

Spansion's outlook for the fourth quarter of 2007 is based on
current expectations.  The following statements are forward-
looking, and actual results could differ materially depending on
market conditions and other factors, including those set forth
in the Cautionary Statement below.

-- The company expects net sales for the fourth quarter of
    2007 to be in the range of US$640 million to US$700 million
    with growth in all major business segments.

-- Gross margin for the fourth quarter 2007 is forecast to be
    approximately flat.  Improving business performance will be
    offset by costs related to the accelerated production ramp
    of Spansion's 300mm, Spansion 1 facility, starting in the
    fourth quarter.

                        About Spansion

Spansion Inc. -- http://www.spansion.com/-- (Nasdaq: SPSN),
headquartered in Sunnyvale, California, and parent of Spansion
LLC, is a leading provider of flash memory semiconductors that's
after its initial public offering in December 2005, is owned
approximately 38% by Advanced Micro Devices and 25% by Fujitsu
Limited.

The company has European operations in France, Asia-Pacific
facilities in Japan, China, Malaysia and Thailand, as well as
sales offices in Latin American countries including Brazil and
Mexico.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 18, 2007, Fitch Ratings has assigned a rating of 'B+/RR2' to
Spansion Inc.'s US$550 million senior secured floating- rate
notes due 2013 issued pursuant to Rule 144A, the net proceeds
from which will be used to repay the outstanding obligations
under the company's US$500 million senior secured term loan
facility due 2012.  The remainder of net proceeds will be used
for general corporate purposes, including capital expenditures
and working capital.

Fitch has withdrawn the 'BB-/RR1' rating of the approximately
US$500 million senior secured term loan facility in anticipation
of Spansion's repayment of this tranche of debt.  Additionally,
Fitch has downgraded the US$175 million senior secured revolving
credit facility due 2010 to 'B+/RR2' from 'BB-/RR1.'  In
conjunction with the refinancing, Fitch has affirmed these
ratings:

    -- Issuer Default Rating of 'B-';

    -- US$250 million of 11.75% senior unsecured notes due 2016
       at 'CCC+/RR5'; and

    -- US$207 million of 2.25% convertible senior subordinated
       debentures due 2016 at 'CCC/RR6'.

Fitch said the rating outlook remains negative.  Approximately
US$1.1 billion of total debt is affected by Fitch's actions.


TIMKEN COMPANY: Investing US$6MM in Industrial Bearing Services
---------------------------------------------------------------
The Timken Company has expanded its industrial bearing services
capacity in response to the strong long-term outlook for demand
and to extend the company's heavy-industrial customer base.
Timken will invest nearly US$6 million in this project, which
includes the opening of a new service center in Union, S.C., and
the expansion of the company's existing industrial bearing
services facility in South Bend, Ind.

This investment will enable Timken's Indiana facility to respond
more quickly to customer needs.  The South Carolina service
location, which is currently housed within a Timken bearing
manufacturing plant, will relocate to a facility solely
dedicated to providing industrial bearing services.  The new
center will open in mid-year 2008. When it is fully operational
in early 2009, the new center will have additional capacity to
remanufacture bearing types and brands within the 18- to 51-inch
size range.

"This investment supports Timken's global services strategy of
providing integrated maintenance services for our customers'
power transmission systems," said Joseph W. Wonsettler, global
operations manager for industrial services.  "This expansion
will allow us to increase bearing repair capacity and improve
on-time delivery requirements for customers."

Through its industrial bearing services, Timken provides
customers with an integrated maintenance program that covers the
total lifecycle of bearings.  Services include mill maintenance
management programs, bearing remanufacturing, chock bearing
maintenance and roll and chock repair.

                       About Timken Co.

Headquartered in Canton, Ohio, The Timken Company (NYSE: TKR) --
http://www.timken.com/-- is a manufacturer of highly engineered
bearings and alloy steels.  It also provides related components
and services such as bearing refurbishment for the aerospace,
medical, industrial and railroad industries.  The company has
operations in Argentina, Australia, Belgium, Brazil, Canada,
China, Czech Republic, England, France, Germany, Hungary, India,
Italy, Japan, Korea, Mexico, Netherlands, Poland, Romania,
Russia, Singapore, South America, Spain, Taiwan, Turkey, United
States, and Venezuela and employs 27,000 employees.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 15, 2007, Moody's Investors Service affirmed Timken's Ba1
corporate family rating and the Ba1 rating on Timken's US$300
million Medium Term Notes, Series A.


UNITED RENTALS: Unit Commences Cash Tender Offers for Sr. Notes
---------------------------------------------------------------
United Rentals Inc.'s wholly owned subsidiary, United Rentals
(North America) Inc., commenced cash tender offers and consent
solicitations for all of its outstanding 6-1/2% Senior Notes due
2012, 7-3/4% Senior Subordinated Notes due 2013 and 7% Senior
Subordinated Notes due 2014.

The notes are comprised of:

   i. US$1 billion principal amount of 6% Notes issued under an
      indenture dated as of Feb. 17, 2004, as supplemented by a
      supplemental indenture dated as of Sept. 19, 2005.

  ii. US$525 million principal amount of 7_% Notes issued under
      an indenture dated as of Nov. 12, 2003, as supplemented
      by a supplemental indenture dated as of Sept. 19, 2005
      and

iii. US$375 million principal amount of 7% Notes issued under
      an indenture dated as of Jan. 28, 2004, as supplemented by
      a supplemental indenture dated as of Sept. 19, 2005.

The tender offers and consent solicitations are being conducted
in connection with the anticipated merger of RAM Acquisition
Corp., an entity indirectly controlled by affiliates of Cerberus
Capital Management L.P., with and into the company. The tender
offers and consent solicitations are being made pursuant to
URNA's offer to purchase and consent solicitation statement,
dated Oct. 16, 2007, which more fully sets forth the terms and
conditions of the tender offers and consent solicitations.

The tender offers and consent solicitations are made upon the
terms and conditions in the offer to purchase and consent
solicitation statement and related consent and letter of
transmittal, dated Oct. 16, 2007.

The tender offers will expire at 12:00 midnight, New York City
time, on Nov. 13, 2007, unless extended or earlier terminated.
URNA reserves the right to terminate, withdraw or amend the
tender offers and consent solicitations at any time, subject to
applicable law.  The consent solicitations will expire at 5:00
p.m., New York City time, on Oct. 29, 2007, unless extended.

Under the terms of the tender offers, the total consideration
for each US$1,000 principal amount of Notes tendered will be
determined on Oct. 29, 2007 or at URNA's discretion a date not
later than the tenth business day before the expiration date.
The total consideration for each US$1,000 principal amount of
notes validly tendered and accepted for purchase pursuant to the
tender offers will be determined as specified in the offer to
purchase and consent solicitation statement, dated
Oct. 16, 2007, on the basis of a yield to the first redemption
date of such notes equal to 50 basis points over a yield
calculated with reference to U.S. Treasury Securities.

In conjunction with the tender offers, URNA is also soliciting
the consent of holders of the notes to eliminate substantially
all of the restrictive covenants and certain events of default
under the indentures for the notes, and to make certain other
amendments to such indentures. Holders cannot tender their Notes
without delivering the related consents and cannot deliver
consents without tendering their notes.

In order for the proposed amendments to the indenture governing
a particular series of notes to be adopted, URNA must receive
consents from holders of notes representing a majority in
principal amount of such series of notes.  Any notes tendered
before the consent date may be withdrawn at any time on or prior
to 5:00 p.m., New York City time, on the consent date, but not
thereafter.  Any notes tendered after the consent date may not
be withdrawn.

URNA will pay a consent payment, which is included in the total
consideration paid on the notes in respect of the tender offers,
of US$30 per US$1,000 principal amount of notes validly tendered
on or prior to the consent date if such notes are accepted for
purchase pursuant to the tender offers.  Holders who tender
their notes after the consent date will not receive the consent
payment.

URNA reserves the right, at any time following the consent date
but prior to the expiration date, to accept for purchase all
notes validly tendered prior to the early acceptance time.  If
URNA elects to exercise this option, it will pay the total
consideration and the tender offer consideration, which is the
total consideration less the consent payment, with respect to
such notes on a date designated by URNA promptly following the
early acceptance time, subject to the terms and conditions of
the tender offers.

The closing of the tender offers is subject to certain
conditions, including, among others:

   i. the closing of new credit facilities providing for up to
      US$2.5 billion of senior secured financing,

  ii. receipt of gross proceeds of up to US$4 billion from
      additional debt financing,

iii. the consummation of the Merger and

  iv. receipt of the required consents from holders of notes to
      amend the indentures for the notes.

However, pursuant to the terms of the agreement and plan of
merger, dated as of July 22, 2007, the consummation of the
merger is not subject to any debt financing condition or the
closing of the tender offers.

URNA has retained Credit Suisse Securities (USA) LLC, Banc of
America Securities LLC, Morgan Stanley & Co. Incorporated and
Lehman Brothers Inc. to serve as the dealer managers and
solicitation agents for the tender offers and consent
solicitations.

                     About United Rentals

Greenwich, Connecticut-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).

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Oct. 11, 2007, Fitch Ratings affirmed the long-term Issuer
Default Rating at 'BB-' for United Rentals Inc. and United
Rentals (North America), Inc.  Fitch removed all ratings from
Rating Watch negative.  Fitch said the rating outlook is stable.
About US$2.6 billion in debt was affected by the action.




=================
N I C A R A G U A
=================


* NICARAGUA: Delegate Visits Honduras for Bilateral Talks
---------------------------------------------------------
President Daniel Ortega of Nicaragua, together with
entrepreneurs, visits Honduran President Manuel Zelaya to
discuss bilateral interest issues, Inside Costa Rica relates.

According to published reports, the Nicaraguan president is
expected to sign economic and political agreements following the
arrival in Tegucigalpa.

The two presidents met in the Nicaraguan city of Ocotal, near
Managua, after the International Court in The Hague set the
maritime limits between the two countries on Oct. 7, Inside
Costa Rica adds.  The dispute began in the 1980s that involved
armed confrontations.  The international court's ruling gave
Nicaragua nearly 10,800 square miles from the 11,500 it was
demanding, and it gave Honduras sovereignty over four keys:
Bobel, Savanna, Port Royal and South.

                        *     *     *

Moody's Investor Service assigned these ratings to Nicaragua:

                   Rating     Rating Date
                   ------     -----------
Long Term          Caa1     June 30, 2003
Senior Unsecured
Debt                B3      June 30, 2003




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


LEVI STRAUSS: S&P Rates US$750-Million Credit Facility at BB
------------------------------------------------------------
Standard & Poor's Ratings Services has assigned its bank loan
and recovery ratings to Levi Strauss & Co.'s US$750 million
asset-based revolving credit facility due 2012.  The facility is
rated 'BB' with a recovery rating of '1', indicating the
expectation for very high (90-100%) recovery in the event of a
payment default.

"The 'BB' issue rating reflects the incorporation of recovery in
the secured issue-level rating as well as the increase in the
size of the facility," said S&P's credit analyst Susan Ding.
The rating is based on preliminary offering statements and is
subject to review upon final documentation.

Founded in 1853 by Bavarian immigrant Levi Strauss, Levi Strauss
& Co. -- http://www.levistrauss.com/-- is one of the world's
largest brand-name apparel marketers with sales in more than 110
countries.  The company market-leading apparel products are sold
under the Levi's(R), Dockers(R) and Levi Strauss Signature(R)
brands.

Levi Strauss & Co. is privately held by descendants of the
family of Levi Strauss.  Shares of company stock are not
publicly traded.  Shares of Levi Strauss Japan K.K., the
company's Japanese affiliate, are publicly traded in Japan.

The company employs a staff of approximately 10,000 worldwide,
including approximately 1,010 at the company's San Francisco,
California headquarters.  Levi Strauss Europe is headquartered
in Brussels, Belgium, while Levi's Asia Pacific division is
based in Singapore.  Levi's has operations in Brazil, Mexico,
Chile and Peru.




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


ADELPHIA COMMUNICATIONS: Wants to Appeal Lucent Claim Ruling
------------------------------------------------------------
Adelphia Communications Corp. asks the U.S. Bankruptcy Court for
the Southern District of New York for permission to appeal a
decision by Judge Cecilia G. Morris, which denied its request to
disallow Lucent Technologies Inc.'s general unsecured claim,
Bankruptcy Law360 reports.

The Court held that Adelphia's request citing that material
issues of fact exist as to whether the conduct of ACOM would
support a reasonable belief that ACOM was a general partner of
Devon Mobile Communications L.P.

At the heart of the parties' dispute, the Court noted, is ACOM's
contention that, under Section 17-303(a) of Delaware's Revised
Uniform Limited Partnership Act, Lucent's actual knowledge of
ACOM's limited partnership status with Devon automatically
defeats Lucent's claim of de facto general partnership
liability.

The Court has determined that for the purposes of Section 17-
303(a), only the limited partner's conduct is relevant because
the statute specifically directs, in determining a third party's
reasonable belief, that the analysis must be "based upon the
limited partner's conduct."  ACOM, the Court pointed out, failed
to note that under Section 17-303(a), "reasonable belief" is to
be "based upon the limited partner's conduct."  Thus, Section
17-303(a) requires the Court to determine Lucent's reasonable
belief based on ACOM's conduct, not Lucent's.

Regardless of how the limited partner may be designated in the
partnership agreement and certificate, and regardless of whether
the third party is aware of that designation, if the limited
partner's actual conduct would support a reasonable belief that
the limited partner is a de facto general partner, that conduct
will render the limited partner liable to third parties,
regardless of the limited partner's prophylactic declaration in
public filings that it is merely a limited partner, the Court
elaborated.  "When a limited partner looks, walks, and talks
like a general partner, such conduct, when it amounts to
participation in control of the business, renders the limited
partner liable as a general partner," the Court noted.

Many of Lucent's objections are based upon Adelphia's failure to
provide citation to evidence, which would be admissible as
required by Local Bankruptcy Rule 7056-1(e), the Court noted.
It appears to the Court that Lucent had actual knowledge of
ACOM's status as a limited partner of Devon.  Thus, the Court
assumes that Lucent did have actual knowledge.

By and large, Adelphia has not indicated which portions of
Lucent's statement of undisputed facts are disputed; instead
Adelphia contended that because Lucent had actual knowledge that
ACC was the limited partner of Devon, Lucent's additional
factual contentions are irrelevant, the Court pointed out.  The
Court believes that many of Lucent's factual contentions will be
relevant at trial.

The Court rejected Adelphia's argument that the Lucent Claim is
barred by the New York statute of frauds.  Lucent's equitable
claims against Adelphia are not necessarily restricted to the
factual scenario contemplated by the New York General
Obligations Law, the Court maintained.  Furthermore, the Court
found nothing in Section 17-303 that would preclude Lucent's
recourse to equitable remedies, including veil piercing, against
a limited partner in appropriate circumstances.

                        About Adelphia

Based in Coudersport, Pennsylvania, Adelphia Communications
Corporation (OTC: ADELQ) -- http://www.adelphia.com/-- is a
cable television company.  Adelphia serves customers in 30
states and Puerto Rico, and offers analog and digital video
services, Internet access and other advanced services over its
broadband networks.  The company and its more than 200
affiliates filed for Chapter 11 protection on June 25, 2002
(Bankr. S.D.N.Y. Lead Case No. 02-41729).  Willkie Farr &
Gallagher represents the Debtors in their restructuring efforts.
PricewaterhouseCoopers serves as the Debtors' financial advisor.
Kasowitz, Benson, Torres & Friedman, LLP, and Klee, Tuchin,
Bogdanoff & Stern LLP represent the Official Committee of
Unsecured Creditors.

On Jan. 5, 2007, the Court entered a written confirmation order
for Adelphia Communication's Modified 5th Amended Chapter 11
Plan.  The Plan became effective on Feb. 13, 2007.

Century Communications Corporation, Adelphia's wholly owned
indirect subsidiary, filed for Chapter 11 protection on
June 10, 2002.  Century's case has been jointly administered to
Adelphia Communications proceedings.  Century operates cable
television services in Colorado, California and Puerto Rico.
Lawyers at Willkie, Farr & Gallagher represent Century.

Century/ML Cable Venture, a New York joint venture of Century
Communications and ML Media Partners, LP, filed for Chapter 11
protection on Sept. 30, 2002.  Century/ML is a holder of the
cable franchise in Leviton, Puerto Rico.  Lawyers at Willkie,
Farr & Gallagher represent Century/ML.  On Sept. 7, 2005, the
Court confirmed Century/ML's Plan.

Devon Mobile Communications, L.P., which is 49% owned by
Adelphia Communications, filed for Chapter 11 protection on
Aug. 19, 2002 (Bankr. D. Del. Case No. 02-12431).  Saul Ewing,
LLP, is represents Devon.

Adelphia Business Solutions, Inc., and its debtor-affiliates
filed for Chapter 11 protection petitions on March 27, 2002.
These debtors' restructurings are jointly administered under
case number 02-11388 and these debtors are represented by
lawyers at Weil, Gotshal & Manges.  Adelphia Business is a 2001
spin-out from Adelphia Communications Corporation.  In March
2003, ABIZ began doing business as TelCove.  The Court confirmed
their 3rd Amended Plan on Dec. 19, 2003 and Adelphia Business
emerged from chapter 11 on April 7, 2004.

Adelphia Cablevision Associates of Radnor, L.P., and 20 of its
affiliates, collectively known as Rigas Manged Entities, are
entities that were previously held or controlled by members of
the Rigas family.  In March 2006, the rights and titles to these
entities were transferred to certain subsidiaries of Adelphia
Cablevision, LLC.  The RME Debtors filed for chapter 11
protection on March 31, 2006 (Bankr. S.D.N.Y. Case Nos. 06-10622
through 06-10642).  Their cases are jointly administered under
Adelphia Communications and its debtor-affiliates chapter 11
cases.


GLOBAL HOME: Files Joint Chapter 11 Plan & Disclosure Statement
---------------------------------------------------------------
Global Home Products LLC and its debtor-affiliates filed with
the U.S. Bankruptcy Court for the District of Delaware their
Joint Chapter 11 Plan of Reorganization and an accompanying
Disclosure Statement explaining that Plan.

The Debtor tells the Court that the Plan is the product of
extensive negotiations with their key creditor constituencies,
including the Official Committee of Unsecured Creditors.

The Plan, the Debtors say, is predicated on the contribution of:

    * cash by Global Home Products Investors, LLC, the entity
      that holds 97.75% of the equity security interests of
      Global Home Products, LLC, for distribution to creditors;
      and

    * cash held by the Reorganized Debtors that constitutes
      collateral for Madeleine's Secured Claim on the effective
      date of the Plan.

The cash contributed by GHPI and cash held by the Reorganized
Debtors will constitute the cash at the effective date of the
plan.

The Debtors tell the Court that GHPI will contribute
US$8,5000,000 on the effective date for pro rata distributions.
Of this amount, US$1,000,000 will be distributed for general
unsecured creditors while US$3,500,000 will be for 503(b)(9)
claims.  The remaining US$4,000,000 will be used to satisfy
Administrative Claims and Priority Claims.

                       Treatment of Claims

Under the plan, Administrative Claims, Professional Fee Claims,
Priority Tax Claims, and Non-Tax Priority Claims will be paid in
full.

The Secured Claim of Madeleine LLC, estimated at US$301,824,678,
will remain secured by substantial all of the Reorganized
Debtors' assets to the same extent and validity as existed prior
to the effective date of the plan pursuant to the Madeleine Loan
Agreement.

Holders of 503(b)(9) Claims will receive a pro rata share of
US$3,500,000 of the effective date cash.  Court records show
that 503(b)(9) Claims amount to US$10,000,000.

General Unsecured Creditors, with claims estimated between
US$80,000,000 and US$100,000,000, will receive their:

    (a) pro rata share of remaining proceeds from the US$1
        million of effective date cash; and

    (b) pro rata share of 18% of any Net Chapter 5 Claims
        Recoveries recovered by the Reorganized Debtors.

The Debtors estimate general unsecured creditors to recover
between 1 to 1.5% of their claims.

GHPI Equity Interests will not be altered under the plan.  Non-
GHPI Equity Interests however will be offered the right to
subscribe to a rights offering to purchase and retain their
existing Non-GHPI Equity Interests.  The Holders of Subsidiary
Equity Interests will retain their rights.

Holders of Cancelled Options and Warrants will not receive
anything under the Plan.

                     About Global Home

Headquartered in Westerville, Ohio, Global Home Products LLC
-- http://www.anchorhocking.com/and http://www.burnesgroup.com/
-- sells houseware and home products and manufactures high
quality glass products for consumers and the food services
industry.  The company also designs and markets photo frames,
photo albums and related home decor products.  The company and
16 of its affiliates, including Burnes Puerto Rico, Inc., and
Mirro Puerto Rico, Inc., filed for Chapter 11 protection on
April 10, 2006 (Bankr. D. Del. Case No. Lead 06-10340).

Laura Davis Jones, Esq., David Bertenthal, Esq., Bruce Grohsgal,
Esq., and Joshua Fried, Esq, at Pachulski Stang Ziehl & Jones
LLP, represent the Debtors.  Attorneys at Dinsmore & Shohl, LLP,
and Frost Brown Todd LCC are the Debtors' special counsel.  Epiq
Bankruptcy Solutions, LLC acts as the Debtors' claims agent.

Ronald F. Stengel, Conway Del Genio Gries & Co., LLC, is the
Debtors' chief restructuring officer.  Plante & Moran is the
Debtors' 401(k) plan auditors.  PricewaterhouseCoopers LLP and
Deloitte Tax LLP provide tax services.  Houlihan Lokey Howard &
Zukin Capital is Debtors' the investment bankers while Johnson
Associates Inc. is the special compensation advisor

Sharon Levine, Esq., and Bruce Buechler, Esq., at Lowenstein
Sandler PC; and David M. Fournier, Esq., at Pepper Hamilton LLP,
represent the Official Committee of Unsecured Creditors.
Attorneys at Basham, Ringer y Correa, SC is the Committee's
special counsel.  Huron Consulting Services LLC acts as the
Committee's financial advisors.

Jesse H. Austin, III, Esq., at Paul, Hastings, Janofsky & Walker
LLP, and Robert J. Dehney, Esq., at Morris, Nichols, Arsht &
Tunnell LLP, represent Medeleine LLC.  Global Home Products
Investors LLC, Cerberus Partners, LP, and Cerberus Capital
Management, LP, is represented in these bankruptcy proceedings
by Lawrence V. Gelber, Esq., and Sophie S. Kim, Esq., at Schulte
Roth & Zabel LLP; and Adam G. Landis, Esq., and Kerri Mumford,
Esq., at Landis Rath & Cobb LLP.




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


PETROLEOS DE VENEZUELA: To Sign Oil Accords with African PetroSA
----------------------------------------------------------------
Venezuelan state-run oil firm Petroleos de Venezuela SA's
research branch Intervep told Business News Americas that it has
held a preliminary meeting with South African counterpart
PetroSA on possible oil projects.

According to Petroleos de Venezuela's statement, PetroSA
proposed various technological products and could cooperate with
Venezuela in offshore natural gas projects, liquefied natural
gas and heavy crude exploration and production in Orinoco.

PetroSA official Walter Poquioma said in a statement, "We could
contribute with our knowledge of gas-to-liquid [GTL] technology,
as we are pioneers in that area.  We also have more than 20
years operating offshore, and we could help PDVSA [Petroleos de
Venezuela] in that area developing projects including the
Mariscal Sucre offshore plan."

An Intervep spokesperson commented to BNamericas, "They are
holding conversations that are now fairly advanced."

PetroSA new ventures vice-president Everton September told
BNamericas, "I can confirm that we have discussed our
involvement in a wide-range of projects, including offshore
natural gas projects, liquefied natural gas and GTL technology.
We also discussed the exploration and production of heavy crude
oil in the Orinoco belt of Venezuela.  We are expecting to sign
the memorandum of understanding underlining our cooperation
soon."

                         About PetroSA

PetroSA is South Africa's state-owned oil company.  It has
exploration and production assets in South Africa, Gabon,
Nigeria and Sudan.  It owns the largest refinery in the world
that uses GTL technology.

                 About Petroleos de Venezuela

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.


                         ***********


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 Ritah 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
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Information contained herein is obtained from sources believed
to be reliable, but is not guaranteed.

The TCR Latin America subscription rate is US$625 per half-year,
delivered via e-mail.  Additional e-mail subscriptions for
members of the same firm for the term of the initial
subscription or balance thereof are US$25 each.  For
subscription information, contact Christopher Beard at
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              * * * End of Transmission * * *