TCRLA_Public/071105.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

          Monday, November 5, 2007, Vol. 8, Issue 219

                          Headlines

A R G E N T I N A

ACTIVE ARGENTINA: Trustee Verifies Proofs of Claim Until Feb. 8
ALITALIA SPA: Antitrust Agency May Change Volare Ruling
ARES NASIM: Seeks for Reorganization Petition in Buenos Aires
ARIAS MELE: Proofs of Claim Verification Deadline Is Feb. 6
BUNGE LTD: Prices Public Offering of 5.125% US$750-Mil. Shares

CAMIONES SAN MARTIN: Proofs of Claim Verification Ends Nov. 20
DOMITEX SRL: Files for Reorganization Petition in Buenos Aires
EL RAPIDO: Proofs of Claim Verification Deadline Is Dec. 11
GUILLERMO V: Proofs of Claim Verification Is Until Dec. 20
KONINKLIJKE AHOLD: Posts Preliminary Third Quarter 2007 Results

KONINKLIJKE AHOLD: To Remodel 100 Giant Food Outlets
LA TRIBU: Reorganization Proceeding Concluded
LODE SA: Proofs of Claim Verification Deadline Is Nov. 30


B A H A M A S

BANK OF BARODA: Profit Up 13.47% to INR3.27 Bil. in 2nd Quarter


B E R M U D A

ASPEN INSURANCE: Board Declares US$0.15 Per Share Dividend
ASPEN INSURANCE: Third Quarter Net Income Up to US$117.2 Million
MONTPELIER RE: Hartford Unit Closes Insurance Co. Acquisition
WARNER CHILCOTT: Subsidiary Inks Licensing Pact with NexMed


B O L I V I A

ASHMORE ENERGY: Pres. Morales Accuses Transredes of Conspiracy

* BOLIVIA: President Morales Accuses Transredes of Conspiracy


B R A Z I L

ARVINMERITOR INC: Appoints Art Waldowski as VP of Purchasing
BRASKEM SA: To Produce 200,000 Ton A Year of Green Polyethylene
BR MALLS: Acquires 7.64% Ownership Interest in Fashion Mall
CA INC: Reports US$137-Mil. Net Income in Quarter Ended Sept. 30
CHEMTURA CORP: Earns US$2 Million in 2007 Third Quarter

DRESSER-RAND: UBS Maintains Neutral Rating on Firm's Shares
EMI GROUP: Terra Firma Leads Strategic Review to Recover Equity
FIDELITY NATIONAL: Earns US$245.3 Million in Third Quarter 2007
FORD MOTOR: UAW Contract Negotiations Continue
GENERAL MOTORS: Investing US$73 Mln in Shreveport Assembly Plant

FIRST DATA: Completes Check Forte Acquisition
HEXION SPECIALTY: Closes German Resins Business Acquisition
JABIL CIRCUIT: Paying US$0.07 Per Share Dividend on Dec. 3
PRIDE INT'L: Earns US$401.5 Million for Quarter Ended Sept. 30

* BRAZIL: Petrobras Inks US$1.2B P-56 Rig Deal with Shipyards


C A Y M A N   I S L A N D S

BATTERY PARK: Proofs of Claim Filing Ends on Nov. 15
CHINA EDUCATION: Proofs of Claim Filing Deadline Is Nov. 15
CRESCENT BELLE: Proofs of Claim Filing Is Until Nov. 15
CRESCENT CENTRAL: Proofs of Claim Filing Deadline Is Nov. 15
GLOBAL ADVISORS: Proofs of Claim Filing Deadline Is Nov. 15

GLOBAL COMMODITY: Proofs of Claim Filing Is Until Nov. 15
GLOBAL COMMODITY INDEX: Proofs of Claim Filing Ends on Nov. 15
LLTM LTD: Proofs of Claim Filing Deadline Is Nov. 15
PAN-ASIA PETROLEUM: Proofs of Claim Filing Is Until Nov. 15
PARMALAT SPA: Court Moves Injunction Hearing to Feb. 14

PARMALAT SPA: Allocated Shares Hike Stock Capital
PROJECT CENTRAL: Proofs of Claim Filing Deadline Is Nov. 15
SAPIC II: Proofs of Claim Filing Deadline Is Nov. 15
SAPIC II REFERENCE: Proofs of Claim Filing Ends on Nov. 15
SAPIC II REFERENCE FUND: Claims Filing Deadline Is Nov. 15

SECURITY CAPITAL: Proofs of Claim Filing Is Until Nov. 15
SOLARIS SPECTRA: Proofs of Claim Filing Is Until Nov. 15
SOUTHWEST UNDERWRITERS: Proofs of Claim Filing Ends on Nov. 15
STAR CAPTURE: Proofs of Claim Filing Is Until Nov. 15
TERTIA LTD: Proofs of Claim Filing Deadline Is Nov. 15


C H I L E

BUCYRUS INT'L: Paying US$0.05 Per Share Quarterly Dividend
FRESH DEL MONTE: Discloses 12,000,000 Ordinary Shares Offering


C O S T A   R I C A

ALCATEL-LUCENT SA: Posts EUR318 Million Net Loss in 3rd Quarter
ALCATEL-LUCENT SA: Names Hubert de Pesquidoux as CFO


D O M I N I C A N   R E P U B L I C

JETBLUE AIRWAYS: Names Noreen Courtney-Wilds as VP for Sales


E C U A D O R

PETROECUADOR: Earns US$3.34B from Crude Export in Nine Months


G U A T E M A L A

AFFILIATED COMPUTER: Cerberus Withdraws Acquisition Offer
AFFILIATED COMPUTER: Five Directors Resign on Chairman's Call


G U Y A N A

FLOWSERVE CORP: Reports US$63-Mln Net Income in Third Qtr. 2007


J A M A I C A

AIR JAMAICA: Adds Flights To Handle Traffic Increase in December
AIR JAMAICA: Pact with Virgin Atlantic Worries Mike Henry
CMS ENERGY: Closes Sale of Jamaica Private Power Co. Stake


M E X I C O

BLOCKBUSTER INC: Posts US$35 Million Third Quater Net Loss
CHALLENGER POWERBOATS: Board OKs Reverse Split on Common Stock
COLLINS & AIKMAN: Fee Examiner Files Report
EMPRESAS ICA: Earns MXN260 Million in Third Quarter 2007
KANSAS CITY: Promotes Three Officers in Operations & Info Tech

MOVIE GALLERY: Can Walk Away from 212 Unexpired Store Leases
MOVIE GALLERY: Landlords React to Auction of 508 Stores Leases
ODYSSEY RE: Third Quarter Net Income Rises to US$114.2 Million
RADIOSHACK CORP: Earns US$46.3 Mil. in Third Qtr. Ended Sept. 30
REMY WORLDWIDE: Taps Greenberg Traurig as Special Counsel

REMY WORLDWIDE: Wants to Hire Ernst & Young as Accountant
VISTEON CORP: Sept. 30 Balance Sheet Upside-Down by US$162 Mil.
WENDY'S INT'L: Banks Propose "Highly Conditional" Financing
WILLIAMS SCOTSMAN: Moody's Withdraws B1 Corporate Family Rating


N I C A R A G U A

SPECTRUM BRANDS: Closes Sale of Canadian Division Business


P A N A M A

CHIQUITA BRANDS: Shutting Down Fresh Express Greencastle Plant


P E R U

COMVERSE TECH: Hires Lance Miyamoto as Exec. VP for Global HR
IRON MOUNTAIN: To Acquire Stratify for US$158 Million in Cash


V E N E Z U E L A

CHRYSLER LLC: U.S. October 2007 Sales Down by 9 Percent
CITGO PETROLEUM: Gasoline Sales Declining, Says Distributor
PEABODY ENERGY: UBS Maintains Buy Rating on Firm's Shares
PETROLEOS DE VENEZUELA: Inks Oil Exploration with Sonatrach

* BOND PRICING: For the Week Oct. 29 to Nov. 2


                         - - - - -


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


ACTIVE ARGENTINA: Trustee Verifies Proofs of Claim Until Feb. 8
---------------------------------------------------------------
Hector Martinez, the court-appointed trustee for Active
Argentina SA's reorganization proceeding, verifies creditors'
proofs of claim until Feb. 8, 2008.

Mr. Martinez will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 17 in Buenos Aires, with the assistance of Clerk
No. 33, 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 Active Argentina 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 Active Argentina's
accounting and banking records will be submitted in court.

La Nacion didn't state the reports submission deadlines.

Creditors will vote to ratify the completed settlement plan
during the assembly on Oct. 30, 2008.

The debtor can be reached at:

       Active Argentina SA
       Piedras 77       
       Buenos Aires, Argentina

The trustee can be reached at:

       Hector Martinez
       Avenida Independencia 2251
       Buenos Aires, Argentina


ALITALIA SPA: Antitrust Agency May Change Volare Ruling
-------------------------------------------------------
Autorita Garante della Concorrenza e del Mercato, Italy's anti-
trust authority, may change its ruling on Alitalia S.p.A.'s
EUR38 million acquisition of Volare Group S.p.A., Bloomberg News
reports.

In July 2006, the regulator approved Alitalia's takeover of low-
cost carrier Volare, but pinned some conditions.  Autorita
Garante said Alitalia must:

   -- give up two Volare slots at Milan Linate Airport; and
   -- yield two of its Linate-to-Paris flight slots.

In May 2006, Autorita Garante opened a probe into national
carrier Alitalia takeover of discount airline Volare.  The
competition commission said it would look into the impact of the
acquisition on flights from Milan Linate to Bari, Brindisi,
Lamezia, Catania, Naples, and Paris.  Both Alitalia and Volare
operate flights on the routes and the anti-trust agency want to
determine Alitalia's unfair dominance in their rivalry.

Alitalia and AirOne S.p.A. have asked the competition watchdog
to review the ruling, Bloomberg News relates, citing an e-mailed
statement from the regulator.

Air One, which made the second highest bid for Volare, claims
that Alitalia is an unfair competitor and that it lacks the
conditions to buy another airline following a near-bankruptcy
miss in 2005.  Air One is reportedly eyeing the carrier's prized
slots at Milan's Linate Airport -- the closest commercial
airport to the city.  

                         About Volare

Headquartered in Milan, Italy, Volare Group S.p.A. --
http://www.volare-group.it/-- is an operative holding company   
that controls Volare Airlines S.p.A. and Air Europe since 2001.  
The company declared insolvency on Nov. 22, 2004, citing huge
debt and heavy losses.  The group then filed for extraordinary
administration, which allowed it to be protected from creditors
while resuming daily operations.  Volare emerged from
administration in spring 2006, after beating its EUR7 million
revenue forecast by around EUR3.8 million.  Volare needs fresh
capital to expand its fleet.  

                         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.


ARES NASIM: Seeks for Reorganization Petition in Buenos Aires
-------------------------------------------------------------
Ares Nasim S.R.L. has requested for reorganization approval
after failing to pay its liabilities since March 2007.

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

The case is pending in the National Commercial Court of First
Instance No. 14 in Buenos Aires.  Clerk No. 28 assists the court
in this case.

The debtor can be reached at:

          Ares Nasim S.R.L.
          Tegucigalpa 1439
          Buenos Aires, Argentina


ARIAS MELE: Proofs of Claim Verification Deadline Is Feb. 6
-----------------------------------------------------------
Magdalena De La Quintana, the court-appointed trustee for Arias
Mele & Asociados S.A.'s bankruptcy proceeding verifies
creditors' proofs of claim until Feb. 6, 2007.

Ms. De La Quintana 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 Arias Mele
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 Arias Mele's
accounting and banking records will be submitted in court.

Infobae didn't state the reports submission deadlines.

Ms. De La Quintana is also in charge of administering Arias
Mele's assets under court supervision and will take part in
their disposal to the extent established by law.

The debtor can be reached at:

         Magdalena De La Quintana
         Cerrito 1136
         Buenos Aires, Argentina


BUNGE LTD: Prices Public Offering of 5.125% US$750-Mil. Shares
--------------------------------------------------------------
Bunge Limited has priced a public offering of US$750 million of
its 5.125% cumulative mandatory convertible preference shares
with a liquidation preference of US$1,000 per share.  The annual
dividend on each mandatory convertible preference share will be
US$51.25 and will be payable quarterly, when, as and if declared
by Bunge's board of directors, on Mar. 1, June 1, Sept. 1 and
Dec. 1 of each year, commencing on Mar. 1, 2008.  Each mandatory
convertible preference share will automatically convert on
December 1, 2010, into between 8.2190 and 9.6984 common shares
of Bunge.  Holders may elect to convert each mandatory
convertible preference share at any time prior to Dec. 1, 2010
into 8.2190 common shares of Bunge.  The conversion rates are
subject to customary adjustments in certain circumstances.
    
Bunge has also granted the underwriter in the offering a 30-day
option to purchase a maximum of US$112.5 million in additional
mandatory convertible preference shares to cover over-
allotments.  Bunge expects the issuance and delivery of the
mandatory convertible preference shares to occur on
Nov. 7, 2007.  The offering is being made under Bunge's existing
shelf registration statement.
    
Bunge intends to use the estimated net proceeds from the
offering of approximately US$735 million to repay indebtedness
and for general corporate purposes.
    
Citi is serving as the sole manager for the offering.
    
                         About Bunge

Headquartered in White Plains, New York, Bunge is a global
agribusiness company with operations primarily in commodity
grain processing and fertilizer production.  It has operations
in Argentina.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Dec. 12, 2006, Moody's Investors Service confirmed the Baa2
senior unsecured ratings for Bunge Limited and guaranteed
subsidiaries.

Moody's also assigned a Ba1 rating to a new US$690 million issue
by Bunge Limited of perpetual preferred stock.

The outlook on all ratings is negative.

Ratings assigned and confirmed:

* Bunge Limited

  -- US$690 million perpetual preferred stock at Ba1

* Bunge Limited Finance Corp.

  -- Senior unsecured at Baa2 under full guarantee of Bunge Ltd

* Bunge Master Trust

  -- Senior unsecured at Baa2 under full guarantee of Bunge Ltd


CAMIONES SAN MARTIN: Proofs of Claim Verification Ends Nov. 20
--------------------------------------------------------------
Patricia Monica Narduzzi, the court-appointed trustee for
Camiones San Martin S.A.'s bankruptcy proceeding verifies
creditors' proofs of claim until Nov. 20, 2007.

Ms. Narduzzi will present the validated claims in court as
individual reports on Feb. 6, 2008.  The National Commercial
Court of First Instance in Dolores, 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 Camiones San Martin 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 Camiones San Martin's
accounting and banking records will be submitted in court on
March 19, 2008.

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

The debtor can be reached at:

         Patricia Monica Narduzzi
         Necochea 94, Dolores
         Buenos Aires, Argentina


DOMITEX SRL: Files for Reorganization Petition in Buenos Aires
--------------------------------------------------------------
Domitex S.R.L. has requested for reorganization approval after
failing to pay its liabilities since June 10, 2007.

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

The case is pending in the National Commercial Court of First
Instance No. 22 in Buenos Aires.  Clerk No. 44 assists the court
in this case.

The debtor can be reached at:

          Domitex S.R.L.
          Castanon 3647
          Buenos Aires, Argentina


EL RAPIDO: Proofs of Claim Verification Deadline Is Dec. 11
-----------------------------------------------------------
Marcelo Gabriel Dborkin, the court-appointed trustee for El
Rapido S.R.L.'s bankruptcy proceeding verifies creditors' proofs
of claim until Dec. 11, 2007.

Mr. Dborkin will present the validated claims in court as
individual reports on Feb. 27, 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 El Rapido 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 El Rapido's
accounting and banking records will be submitted in court on
April 9, 2008.

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

The debtor can be reached at:

         Marcelo Gabriel Dborkin
         Avenida Callao 295
         Buenos Aires, Argentina


GUILLERMO V: Proofs of Claim Verification Is Until Dec. 20
----------------------------------------------------------
Estudio Suez, Pustelnik y Asociados -- the court-appointed
trustee for Guillermo V. Cassano e Hijos SA's bankruptcy
proceeding -- verifies creditors' proofs of claim until
Dec. 20, 2007.

Estudio Suez will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 6 in Buenos Aires, with the assistance of Clerk
No. 12, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections
and challenges that will be raised by Guillermo V. 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 Guillermo V.'s
accounting and banking records will be submitted in court.

La Nacion didn't state the reports submission deadlines.

Estudio Suez is also in charge of administering Guillermo V.'s
assets under court supervision and will take part in their
disposal to the extent established by law.

The debtor can be reached at:

         Guillermo V. Cassano e Hijos SA
         Superi 1219
         Buenos Aires, Argentina

The trustee can be reached at:

         Estudio Suez, Pustelnik y Asociados
         Suipacha 207
         Buenos Aires, Argentina


KONINKLIJKE AHOLD: Posts Preliminary Third Quarter 2007 Results
---------------------------------------------------------------
Koninklijke Ahold N.V. (fka Royal Ahold) disclosed consolidated
net sales of EUR6.3 billion for the third quarter ended
Oct. 7, 2007.  Compared to the third quarter of 2006, net sales
increased by 1.1% and increased by 5.6% at constant exchange
rates.

In the United States, price investments related to the further
roll-out of the Value Improvement Program, launched in September
2006 at Stop & Shop and Giant-Landover, will continue to impact
margins.  At Giant-Carlisle, seasonally low sales will also be
reflected in margins.  In the Netherlands, market conditions
remained favorable.

Sales performance

   * Stop & Shop/Giant-Landover

   -- Net sales increased 0.3% to $3.7 billion.

   -- Identical sales increased 1.2% at Stop & Shop (1.0%
      excluding gasoline net sales) and decreased 1.8%
      at Giant-Landover.

   -- Comparable sales increased 1.7% at Stop & Shop and
      decreased 1.6% at Giant-Landover.

   * Giant-Carlisle

   -- Net sales increased 13.1% to $1 billion, due in part to
      the acquisition of the Clemens Markets stores in the
      fourth quarter of 2006.

   -- Identical sales increased 2.5% (2.3% excluding gasoline
      net sales).

   -- Comparable sales increased 3.7%.

   * Albert Heijn

   -- Net sales increased 12.4% to ?1.8 billion, due in part to
      the acquisition of the Konmar stores in the fourth
      quarter of 2006.

   -- Net sales at Albert Heijn supermarkets increased 12.5% to
      EUR1.6 billion.

   -- Identical sales at Albert Heijn supermarkets increased
      7.3%.

   * Albert/Hypernova (Czech Republic and Slovakia)

   -- Net sales increased 13.1% to EUR355 million (9.9% at
      constant exchange rates).

   -- Identical sales increased 7.4%.

   * Schuitema

   -- Net sales increased 1.7% to EUR728 million.

   -- Identical sales increased 0.4%.

   * Unconsolidated joint venture - ICA

   -- Net sales increased 21.1% to EUR2.2 billion, largely
      reflecting ICA's acquisition of the full ownership of
      Rimi altic AB from December 2006.  At constant exchange
      rates, net sales increased 20.9%.

On Nov. 6, 2006, Ahold announced its intention to divest U.S.
Foodservice, its retail activities in Slovakia and Poland, the
remaining Tops operations in New York and Pennsylvania, and its
stake in JMR.  Poland, Tops, U.S. Foodservice and JMR are
classified as discontinued operations.  On July 2 and
July 3, 2007, Ahold completed the sale of its Polish retail and
U.S. Foodservice operations, respectively.  On Oct. 11, 2007,
Ahold reached agreement on the sale of the remaining Tops
operations.  The sale is expected to be completed in the fourth
quarter of 2007, subject to the fulfillment of certain closing
conditions.

The net sales figures presented are preliminary and unaudited.

                         About Ahold

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

                        *     *     *

As reported on May 11, 2007, Moody's Investors Service placed
the Ba1 Corporate Family Rating and the Ba1 Senior Unsecured
Long-Term Rating of Koninklijke Ahold N.V. on review for
possible upgrade.

The action follows the company's announcement that it has
agreed to the disposal of its U.S. Foodservice business to
private equity funds for US$7.1 billion.

As reported on May 7, 2007, Fitch Ratings upgraded the Issuer
Default and senior unsecured ratings of Royal Ahold N.V. (nka
Koninklijke Ahold N.V.) to 'BB+' from 'BB'.  The Outlook on the
Issuer Default rating remains Positive.  Its Short-term rating
is affirmed at 'B'.


KONINKLIJKE AHOLD: To Remodel 100 Giant Food Outlets
----------------------------------------------------
Koninklijke Ahold N.V. disclosed its three-year investment plan
to remodel or replace around 100 Giant Food supermarkets in
Delaware, Maryland, Virginia, and Washington D.C.  The store
remodeling program, named "Project Refresh," will represent
Ahold's largest investment in the Giant Food stores since
acquiring the chain in 1998.

Jose Alvarez, President and CEO of Stop & Shop/Giant-Landover,
said: "We are very excited about what this investment will bring
to our Giant customers, employees and local communities. The
remodeling program underscores our commitment to continuing to
be the supermarket of choice in these markets."

The investment will focus on improving Giant's perishable food
sections and modernizing the stores to improve customer
convenience. Giant expects to keep its existing stores open
during the remodeling process.

Giant Food is headquartered in Landover, Maryland; operates 185
supermarkets in Virginia, Maryland, Delaware, and Washington
D.C.; and employs approximately 21,000 employees.

                         About Ahold


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

                        *     *     *

As reported on May 11, 2007, Moody's Investors Service placed
the Ba1 Corporate Family Rating and the Ba1 Senior Unsecured
Long-Term Rating of Koninklijke Ahold N.V. on review for
possible upgrade.

The action follows the company's announcement that it has
agreed to the disposal of its U.S. Foodservice business to
private equity funds for US$7.1 billion.

As reported on May 7, 2007, Fitch Ratings upgraded the Issuer
Default and senior unsecured ratings of Royal Ahold N.V. (nka
Koninklijke Ahold N.V.) to 'BB+' from 'BB'.  The Outlook on the
Issuer Default rating remains Positive.  Its Short-term rating
is affirmed at 'B'.


LA TRIBU: Reorganization Proceeding Concluded
---------------------------------------------
La Tribu S.R.L.'s reorganization proceeding has ended.  Data
published by Infobae on its Web site indicated that the process
was concluded after the National Commercial Court of First
Instance in Buenos Aires approved the debt agreement signed
between the company and its creditors.


LODE SA: Proofs of Claim Verification Deadline Is Nov. 30
---------------------------------------------------------
Abraham Elias Gutt, the court-appointed trustee for Lode S.A.'s
bankruptcy proceeding verifies creditors' proofs of claim until
Nov. 30, 2007.

Mr. Gutt 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 Lode 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 Lode's accounting and
banking records will be submitted in court.

Infobae didn't state the reports submission deadlines.

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

The debtor can be reached at:

         Abraham Elias Gutt
         Tucuman 1484
         Buenos Aires, Argentina




=============
B A H A M A S
=============


BANK OF BARODA: Profit Up 13.47% to INR3.27 Bil. in 2nd Quarter
---------------------------------------------------------------
Bank of Baroda booked a net profit of INR3.27 billion in the
quarter ended Sept. 30, 2007, up 13.47% from the INR2.88 billion
earned in the corresponding quarter last year.  Total income
rose 32.95% to INR33.34 billion, most of which is from interest
earned on advances that aggregated INR20.52 billion.

The bank's expenditures for the July-Sept. 2007 period totaled
INR26.97 billion, which include interest expense of
INR18.98 billion and operating expenses of INR7.98 billion.

A copy of the bank's unaudited financial results for the quarter
ended Sept. 30, 2007, is available for free at:

              http://ResearchArchives.com/t/s?24b1

Headquartered in Vadodara, India, Bank of Baroda --
http://www.bankofbaroda.com/-- is a provider of banking
services in India.  The company's solutions includes personal
banking, which includes deposits, retail loans, credit cards,
debit card, lockers and other services; business banking, which
comprises working capital, term finance and traders loans;
corporate banking, which includes cash management and
remittances, multi-city cheques, appraisals and merchant
banking; international business, which includes import finance,
international treasury, export finance, correspondent banking
and other solutions; treasury banking, which comprises domestic
operations and forex operations, and rural banking, which
includes retail loan, small businesses and small scale
industries.

Bank of Baroda has branches in the Bahamas, Belgium, the Fiji
Islands, Mauritius, Republic of South Africa, Seychelles,
Singapore, Sultanate of Oman, United Arab Emirates, the United
Kingdom, and the United States of America.

                        *     *     *

As reported by the Troubled Company Reporter-Asia Pacific on
July 11, 2007, Standard & Poor's assigned its 'BB' issue rating
to Bank of Baroda's US$300 million upper Tier-II subordinated
notes due in 2022.

Fitch Ratings, on May 9, 2007, assigned 'BB' ratings to Bank of
Baroda's proposed unsecured subordinated Upper Tier 2 notes
(expected size: US$250 million plus greenshoe option), as well
as the hybrid Tier 1 debt to be issued under its USD1.5 billion
medium-term notes programme.  Fitch said the outlook on all
ratings is stable.




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


ASPEN INSURANCE: Board Declares US$0.15 Per Share Dividend
----------------------------------------------------------
Aspen Insurance Holdings Limited's Board of Directors has
declared a quarterly cash dividend on its ordinary shares of
US$0.15 per ordinary share. The dividend is payable on
Nov. 26, 2007, to the holders of record as of the close of
trading on Nov. 13, 2007.

The company's Board also has declared a cash dividend on its
Perpetual Preferred Income Equity Replacement Securities of
US$0.703125 per Perpetual PIER.  The dividend is payable on
Jan. 1, 2008, to the holders of record as of the close of
business on Dec. 15, 2007.

The Board has declared a dividend on the 7.401% Perpetual Non-
Cumulative Preference Shares of US$0.462563 per Perpetual
Preference Share, payable on Jan. 1, 2008, to the holders of
record as of the close of business on Dec. 15, 2007.

Headquartered in Hamilton, Bermuda, Aspen Insurance Holdings
Limited (NYSE: AHL) (BSX: AHL BH) is the holding company of the
Aspen Group the principal operating entities of which are Aspen
Insurance UK Limited and Aspen Insurance Limited, both rated A2
for insurance financial strength.  At the end of September 2006,
Aspen Group reported net income of US$259 million and
shareholders' equity of US$2.3 billion.

                        *     *     *

As reported in the Troubled Company Reporter on Nov. 14, 2006,
Moody's Investors Service assigned a Ba1 rating to the US$200
million Perpetual Non-Cumulative Preference Shares issued by
Aspen Insurance Holdings Limited, the existing perpetual "PIERS"
of which were rated Ba1 by Moody's.


ASPEN INSURANCE: Third Quarter Net Income Up to US$117.2 Million
----------------------------------------------------------------
Aspen Insurance Holdings Limited reported net income for the
third quarter of 2007 of US$117.2 million, an increase of 28.7%
over the same quarter last year.  Diluted operating income per
share is US$1.12 compared to US$0.93 in the third quarter of
2006.  The combined ratio was 84.5%, compared to 81.0% in the
prior year period. Annualized return on equity rose to 20.2% for
the quarter and 21.2% for the year to date.  Book value per
share increased 21.0% to US$26.46.

Chris O'Kane, Chief Executive Officer, commented, "I am very
pleased with the record third quarter results Aspen today
announced, with net income up 23% to US$117 million from the
same period in 2006, year-to-date earnings per share up 44% to
US$3.67, and book value per share of US$26.46.  These strong
results reflect our ongoing focus on managing, diversifying and
leveraging our underwriting platforms and the excellent
performance of the investment portfolio.  We will continue to
manage the business to ensure that we remain appropriately
positioned for long term profitability and disciplined growth."

Third Quarter 2007 Operating Highlights:

   -- Very low catastrophe losses for the quarter of US$10
      million including US$7 million for July U.K. flood claims.

   -- US$956 million increase in total cash and investments year
      over year driven by strong operating cash flow.

   -- Continued strong results from the investment portfolio
      which delivered US$72.4 million to net income.  Funds of
      Hedge Funds produced an annualized return of 6.5% in the
      quarter and contributed US$8 million to investment income.

   -- Repurchase of US$50 million ordinary shares under share
      repurchase program.

   -- Improved tax rate of 15% versus 20% in 2006.

   -- Slight expense growth due to investment in new lines and
      offices, increased performance bonuses driven by strong
      results, and exchange rate differences from British Pound
      denominated costs.

   -- Entry into the Global Excess Casualty insurance market
      with the establishment of a dedicated underwriting team in
      Dublin.

   -- Entry into the Professional Liability insurance market
      with a focus on business in the U.K. and Australia.

   -- Aspen Re was named "Best Global Reinsurance Company for
      Specialty Lines" by Reactions Magazine.

                    About Aspen Insurance

Headquartered in Hamilton, Bermuda, Aspen Insurance Holdings
Limited (NYSE: AHL) (BSX: AHL BH) is the holding company of the
Aspen Group the principal operating entities of which are Aspen
Insurance UK Limited and Aspen Insurance Limited, both rated A2
for insurance financial strength.  At the end of September 2006,
Aspen Group reported net income of US$259 million and
shareholders' equity of US$2.3 billion.

                        *     *     *

As reported in the Troubled Company Reporter on Nov. 14, 2006,
Moody's Investors Service assigned a Ba1 rating to the USUS$200
million Perpetual Non-Cumulative Preference Shares issued by
Aspen Insurance Holdings Limited, the existing perpetual "PIERS"
of which were rated Ba1 by Moody's.


MONTPELIER RE: Hartford Unit Closes Insurance Co. Acquisition
-------------------------------------------------------------
Montpelier Re Holdings Ltd.'s Hartford-based subsidiary,
Montpelier US, had completed the purchase of a US Excess &
Surplus lines insurance company after receiving regulatory
approval from the Oklahoma Department of Insurance.

The agreement, which was first announced in July, saw Montpelier
US pay Gainsco, Inc., a Texas Corporation, a US$4.75 million
premium over book value to acquire General Agents Insurance
Company of America, Inc.

General Agents is a licensed admitted insurer in the State of
Oklahoma and is authorized as an excess and surplus lines
insurer in 37 states (38 states total).

The company will be renamed Montpelier US Insurance Company
(MUSIC) and its underwriting operations will be based in
Scottsdale, Arizona.  It will write primarily excess and surplus
line insurance in the continental US.

Dick Nenaber, President of MUSIC, said: "We are assembling an
experienced team and we look forward to serving the needs of our
insurance partners within the next few weeks."

Stan Kott, CEO of Montpelier US, said: "With the acquisition of
MUSIC we have quickly completed the initial infrastructure of
Montpelier's US operations.  We are now able to offer our
underwriting capabilities through our Lloyd's syndicate and our
own US capital based insurance company.  The teams we are
assembling now have the essential ingredients to build out our
US enterprise."

Anthony Taylor, Chairman and CEO of Montpelier Re, said: "In a
very short time we have expanded our footprint from Bermuda to
Lloyd's and to the US and Europe.  The acquisition of MUSIC adds
to our US capabilities and prepares us for a more diversified
business."

Headquartered in Bermuda, Montpelier Re Holdings Ltd., through
its operating subsidiary Montpelier Reinsurance Ltd., is a
premier provider of global property and casualty reinsurance and
insurance products.  During the year ended Dec. 31, 2005,
Montpelier underwrote US$978.7 million in gross premiums
written.  Shareholders' equity at Dec. 31, 2005, was US$1.1
billion.

                        *     *     *

As reported in the Troubled Company Reporter on Dec. 19, 2006,
A.M. Best affirms these ratings on Montpelier Re Holdings:

Montpelier Re Holdings Ltd.

   -- "bbb-" on senior unsecured debt;
   -- "bb+" on subordinated debt; and
   -- "bb" on preferred stock.

   MRH Capital Trust I and II (guaranteed by Montpelier Re
   Holdings Ltd.)

   -- "bb" on preferred securities.


WARNER CHILCOTT: Subsidiary Inks Licensing Pact with NexMed
-----------------------------------------------------------
Warner Chilcott Company Inc., a Warner Chilcott Ltd. subsidiary,
has entered into a licensing agreement for the exclusive U.S.
rights to NexMed Inc.'s topically applied alprostadil cream for
the treatment of erectile dysfunction.  NexMed submitted a New
Drug Application with the Food and Drug Administration on
Sept. 21, 2007, and is awaiting confirmation of acceptance of
its filing.

Under the terms of the agreement, Warner Chilcott has exclusive
U.S. rights to develop and market NexMed's product.  NexMed
received an initial, up- front payment and is eligible to
receive additional payments upon achievement of certain
development and regulatory approval milestones.  Further, Warner
Chilcott will pay a royalty to NexMed on sales of the product.  
Specific financial details of the agreement were not disclosed.

"This exciting collaboration allows Warner Chilcott to expand
into a complementary therapeutic area utilizing its proven sales
and marketing expertise," said Roger Boissonneault, Chief
Executive Officer of Warner Chilcott.  "We believe that the
NexMed product has the potential to be an important new
therapy."

Commenting on today's news, Vivian Liu, President and Chief
Executive Officer of NexMed, stated, "We are delighted to reach
another major milestone in the history of this product.  We look
forward to working with Warner Chilcott in completing the
remaining development including manufacturing."  Ms. Liu further
added, "I am confident in Roger and his team's ability to
establish a major presence in urology.  With their proven
success in building new markets, Warner Chilcott is a great
partner for launching this product."

                       About ED Market

According to IMS data, the U.S. ED market in 2006 was about $1.5
billion -- dominated by oral PDE5 treatments.  Despite the
availability of today's oral and other therapies, there is still
a need for new, safe and effective treatments, especially for
those patients who cannot or do not respond well to oral
medication.  Alprostadil, well recognized as a safe and
effective drug for the treatment of ED, is currently marketed as
both an injectable and intra- urethral pellet.  NexMed's topical
product provides a more patient-friendly alternative due to its
non-invasive ease of administration.

                    About Warner Chilcott

Headquartered in Hamilton, Bermuda, Warner Chilcott Ltd. --
http://www.warnerchilcott.com/-- is the holding company for a  
host of pharmaceutical makers.  Women's health care products,
including hormone therapies (femhrt and Estrace Cream) and
contraceptives (Estrostep, Loestrin, and OvCon), are the
company's largest segment.  Other products include dermatology
treatments for acne (Doryx) and psoriasis (Dovonex and
Taclonex).  US subsidiary Warner Chilcott, Inc. makes
prescription drugs for dermatology and women's health; other
subsidiaries provide services in data management systems,
pharmaceutical development, manufacturing, and chemical
development.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 21, 2007, Moody's Investors Service raised the speculative-
grade liquidity rating for Warner Chilcott Company, Inc. (a
subsidiary of Warner Chilcott Limited) to SGL-1 from SGL-2,
indicating very good liquidity.  The Corporate Family Rating is
B2, with a positive rating outlook.




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


ASHMORE ENERGY: Pres. Morales Accuses Transredes of Conspiracy
--------------------------------------------------------------
Bolivian President Evo Morales publicly accused Ashmore Energy
International's local unit, Transredes, of conspiring against
the government, the Associated Press reports.  He asked the
energy company to stop its anti-government campaigns during the
launching of the company's new US$24.6 million gas pipeline.

Without elaborating on the alleged conspiracy, President Morales
was quoted by AP as saying that he received information "that in
place of applying social policies, they have tried to conspire
against the democracy and the government."

Ashmore Energy has only acquired in May a controlling stake in
Transredes from Royal Dutch Shell.  The British firm is one of
the few multinationals to have increased its investments in the
Andean nation, the same report says.  The investment was made
despite the government's announcement that it will be taking
over control of Transredes on April 25, 2008.

Meanwhile, Transredes President Ernesto Blanco flatly denied the
Bolivian president's accusation, saying:  "We are technical
workers, and our function is the construction of pipelines.  
That is our only mission."

                      About Transredes

Transredes operates 5,900 kilometers (3,666 miles) of gas
pipelines through Bolivia.  The newly completed line will expand
delivery of the fuel to La Paz and its rapidly growing twin city
El Alto from 27 to 32 million cubic feet daily.

Ashmore Energy International Ltd. --
http://www.ashmoreenergy.com-- owns and operates a portfolio of
energy infrastructure assets in power generation, transmission,
and distribution of natural gas, gas liquids, and electric
power.  Ashmore Energy's portfolio, directly or indirectly,
consists of 19 companies in 14 countries, most of which are
located in Latin America.  The company's largest asset is
Brazilian electric distribution company, Elektro, which
represents approximately 43% of EBITDA, and 55.3% of fiscal 2006
consolidated cash flow to parent company Ashmore Energy.  The
company also operates a power plant in the Dominican Republic.

                        *     *     *

On April 2007, Standard & Poor's Ratings Services assigned its
'B+' secured debt rating and '3' recovery rating to Ashmore
Energy International's US$105 million synthetic revolving credit
facility due in 2012.  At the same time, Standard & Poor's
affirmed its 'B+' corporate credit rating on Ashmore Energy; its
'B+' senior secured debt rating and '3' recovery rating on its
US$395 million revolving credit facility due 2012, which was
reduced from US$500 million; and its 'B+' senior secured debt
rating and '3' recovery rating on Ashmore Energy's US$1 billion
term loan due in 2014.  AEI Finance Holding LLC is a co-borrower
to Ashmore Energy's bank facility.  S&P said the outlook is
stable.

On February 2007, Fitch Ratings assigned a BB Issuer Default
rating to Ashmore Energy International Ltd. and rated its US$500
million senior revolver credit facility at BB.

Also, Moody's Investors Service assigned a Ba3 rating to the
senior secured credit facilities.


* BOLIVIA: President Morales Accuses Transredes of Conspiracy
-------------------------------------------------------------
Bolivian President Evo Morales publicly accused Ashmore Energy
International's local unit, Transredes, of conspiring against
the government, the Associated Press reports.  He asked the
energy company to stop its anti-government campaigns during the
launching of the company's new US$24.6 million gas pipeline.

Without elaborating on the alleged conspiracy, President Morales
was quoted by AP as saying that he received information "that in
place of applying social policies, they have tried to conspire
against the democracy and the government."

Ashmore Energy has only acquired in May a controlling stake in
Transredes from Royal Dutch Shell.  The British firm is one of
the few multinationals to have increased its investments in the
Andean nation, the same report says.  The investment was made
despite the government's announcement that it will be taking
over control of Transredes on April 25, 2008.

Meanwhile, Transredes President Ernesto Blanco flatly denied the
Bolivian president's accusation, saying:  "We are technical
workers, and our function is the construction of pipelines.  
That is our only mission."

                       About Transredes

Transredes operates 5,900 kilometers (3,666 miles) of gas
pipelines through Bolivia.  The newly completed line will expand
delivery of the fuel to La Paz and its rapidly growing twin city
El Alto from 27 to 32 million cubic feet daily.

Ashmore Energy International Ltd. --
http://www.ashmoreenergy.com-- owns and operates a portfolio of
energy infrastructure assets in power generation, transmission,
and distribution of natural gas, gas liquids, and electric
power.  Ashmore Energy's portfolio, directly or indirectly,
consists of 19 companies in 14 countries, most of which are
located in Latin America.  The company's largest asset is
Brazilian electric distribution company, Elektro, which
represents approximately 43% of EBITDA, and 55.3% of fiscal 2006
consolidated cash flow to parent company Ashmore Energy.  The
company also operates a power plant in the Dominican Republic.

                        *     *     *

Fitch Ratings assigned these ratings on Bolivia:

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




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


ARVINMERITOR INC: Appoints Art Waldowski as VP of Purchasing
-------------------------------------------------------------
ArvinMeritor's Commercial Vehicle Systems business has announced
the appointment of Art Waldowski as Vice President of
Purchasing, effective Nov. 1, 2007
    
Mr. Waldowski will be responsible for leading the global
purchasing team and implementing the worldwide procurement
strategy for CVS.  He will also focus on driving the Direct
Material Optimization program and strengthening and diversifying
the supply base.
    
Mr. Waldowski spent the past eight years with Valeo in Auburn
Hills, Michigan, most recently as the division director for
North American Purchasing.  Prior to that, he held various
purchasing positions within ITT and General Motors.  He has more
than 20 years of purchasing experience in the automotive
industry.
    
Mr. Waldowski holds a bachelor's of science degree in Business
Administration from Oakland University in Rochester, Michigan.

                     About ArvinMeritor

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

                        *     *     *

As reported in the Troubled Company Reporter on Oct. 9, 2007,
Fitch Ratings downgraded its ratings on ArvinMeritor Inc.
including Issuer Default Rating to 'BB-' from 'BB'; Senior
secured revolver to 'BB' from 'BB+'; and Senior unsecured notes
to 'B+' from 'BB-'.  Fitch said the rating outlook is negative.

Standard & Poor's Ratings Services lowered its corporate credit
rating and related ratings on ArvinMeritor Inc. to 'B+' from
'BB-'.  S&P said the outlook is negative.

Moody's Investors Service downgraded ArvinMeritor's Corporate
Family Rating to B1 from Ba3 and maintained the outlook at
stable.  Moody's also lowered its ratings on the company's
secured bank obligations (to Ba1, LGD-1, 8% from Baa3, LGD-2,
13%) and unsecured notes (to B2, LGD-4, 63% from B1, LGD-4,
63%).  The Probability of Default is changed to B1 from Ba3,
while the company's Speculative Grade Liquidity rating remains
SGL-2.  Moody's said the outlook is stable.


BRASKEM SA: To Produce 200,000 Ton A Year of Green Polyethylene
---------------------------------------------------------------
Braskem SA has confirmed their project for the implantation of a
new production plant for polyethylene made from sugar can
ethanol, to enter into operations at the end of 2009 and with a
capacity of 200 thousand tons per annum.  The news was
officially relayed by Jose Carlos Grubisich, the Braskem Chief
Executive Officer, who is in Germany to take part in the K 2007
International Trade Fair, the largest international event for
the petrochemical and plastics sector.

The first company to produce a globally certified polyethylene
made 100% from renewable raw materials; Braskem has already
produced around 1,000 kg of the green polymer in its pilot
plant, working at full capacity, in its Center of Technology and
Innovation.  To date, Braskem has brokered pre-contract sales
orders with a variety of companies that are leaders in their
segments of the international and Brazilian market, and who are
interested in becoming partners regarding this technological
breakthrough of a project that will have positive impacts on the
environment.

Mr. Grubisich affirms, "Braskem's investment into the production
of a green polyethylene confirms our commitment to innovation
and sustainable development, opening very positive perspectives
so that our clients, producers of manufactured plastics, can
count on a competitive difference in their market positioning".  
He adds: "This project is in line with our growth strategy with
the creation of value and represents an important step toward
the vision of positioning Braskem among the top ten
petrochemical companies world-wide".

The companies interested in realizing supply contracts with
Braskem have already started to receive samples of the green
polyethylene with the aim of keeping the transformers and end
users up to date.  The production of plastics made from ethanol
is aimed at supplying the main international markets that
require products with superior quality and performance; most
notably the automobile, food packaging, cosmetics and personal
hygiene industries.  The product has the same physical
properties as traditional polyethylene and requires no
investments in new equipment for the manufacturers of plastics.

With annual turnover in the region of US$11 billion, Braskem
operates in the international market, side by side with its
strategic clients and offering the same standards of service as
local producers.  The company counts with commercial operations
and market development bases in Europe, the US and Argentina,
and is concluding a study for the setting up of an office in
China.

Braskem exports total approximately US$2.5 billion per annum and
reach over 50 countries spread over all five continents.  The
North American market accounts for the most common destination
with 36% of the total, demonstrating the company's ability to
compete.  For thermoplastics, Europe accounts for 30% of the
total and is second only to South America, which accounts for
45%.

Products with a high technological aggregate hold a significant
place in the Braskem list of exports, with the company being one
of the world's largest producers of ultra high molecular weight
polyethylene under the UTEC(R) brand, which is primarily
destined for the North American market.  Also of note is the
Braskem Idealis(R) resin, a high molecular weight polyethylene
that is in high demand in the European market.  These are
examples of the results from the Braskem Center of Technology
and Innovation, the most modern and well equipped of its kind
among petrochemical companies in Latin America, which has assets
that required investments of over US$150 million, including
eight pilot plants.

In addition to green polyethylene, Braskem is currently
developing other projects aimed at the longer term and focused
on biopolymers, such as polypropylene made from biomass.  Mr.
Grubisich affirms, "Braskem is proud to be at the forefront of a
technological breakthrough that will align the interests of the
company, our shareholders, clients and society, which is more
and more demanding regarding initiatives that contribute to the
sustainability of the planet".

Braskem (BOVESPA: BRKM5; NYSE: BAK; LATIBEX: XBRK) --
http://www.braskem.com.br/-- is a thermoplastic resins producer  
in Latin American, and is among the three largest Brazilian-
owned private industrial companies.  The company operates 13
manufacturing plants located throughout Brazil, and has an
annual production capacity of 5.8 million tons of resins and
other petrochemical products.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
March 26, 2007, Fitch Ratings has affirmed its BB+ ratings on
Braskem S.A. and Braskem International following the
announcement by Braskem, Petrobras and the Ultra Group that they
have reached an agreement to acquire the Ipiranga Group's
petrochemical, refining and fuel distribution assets.

Fitch also affirmed these ratings:

Braskem S.A.

   -- Foreign currency issuer default rating at 'BB+';
   -- Local currency issuer default rating at 'BB+';;
   -- Senior unsecured notes 2008, 2014 at 'BB+';
   -- Senior unsecured Perpetual Bonds at 'BB+';
   -- Senior unsecured notes 2017 at 'BB+';
   -- National rating at 'AA (bra)';
   -- Debentures 12th Issuance at 'AA (bra)'; and
   -- Debentures 13th Issuance at 'AA (bra)'.

Braskem International

   -- Senior unsecured notes 2015 at 'BB+'.


BR MALLS: Acquires 7.64% Ownership Interest in Fashion Mall
-----------------------------------------------------------
BR Malls Participacoes S.A., has acquired, through its
controlled subsidiaries, 7.64% of ownership interest in Fashion
Mall from Fundo de Investimento Imobiliario Fashion Mall.  
Following the aforementioned acquisition, BR MALLS holds 100% of
the Gross Leasable Area of Fashion Mall.
    
After the above-mentioned acquisition, BR MALLS increased its
owned Gross Leasable Area from 368.3 thousand square meters to
369.4 thousand square meters, holding ownership interest in 28
Shopping Malls (one is under construction), maintaining a total
Gross Leasable Area of 826.9 thousand square meters.

Fashion Mall is located in the municipality of Rio de Janeiro.  
The shopping mall has 14,108 square meters of Gross Leasable
Area, 138 satellite stores and 747 parking spaces.

                       About BR Malls

BR Malls Participacoes SA is an integrated Shopping Mall company
in Brazil.  The company has stakes in 11 Shopping Centers, 10 of
them in operation and one under construction, totalizing 505,000
square meters of Gross Commercial Area and 396,900 square meters
of Gross Leaseable Area and approximate 2.2 thousand stores.  
The company provides management, consulting and leasing services
for 37 Shopping Centers, Commercial and Business Centers,
totalizing 981,000 square meters of Gross Commercial Area, with
approximate 4,100 stores.  The company's portfolio of shopping
centers has been strategically diversified in its geographic
positioning and in its penetration of income segments.  The
company's principal subsidiaries consist of ECISA Engenharia and
ECISA Participacoes, Egec, Dacom, Sisa, Egec Par and GS, Nattca,
SPE Indianapolis, Deico and other companies.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 24, 2007, Standard & Poor's Ratings Services assigned its
'BB-' long-term corporate credit rating to BR Malls
Participacoes S.A.  S&P said the outlook is stable.  The
company's total debt amounted to US$91 million in March 2007.


CA INC: Reports US$137-Mil. Net Income in Quarter Ended Sept. 30
----------------------------------------------------------------
CA Inc. disclosed its financial results for its second quarter
fiscal year 2008, which ended Sept. 30, 2007.

The company had net income of US$137 million for the three
months ended Sept. 30, 2007, compared to net income of US$53
million for the same period in 2006.

"This marks CA's fourth consecutive quarter of solid
performance. We made another significant advancement toward our
goal of transforming CA into one of the world's leading software
providers," said John Swainson, CA's president and chief
executive officer.  "The world's largest and most sophisticated
IT users are coming to us to help them govern, manage and secure
their IT infrastructures using CA software."

"We are seeing real excitement from these customers as they see
how CA's products and services can help them manage the cost of
IT, improve its efficiency and security, and allow them to
ensure that their IT investments are aligned with their business
strategy.  We will continue to invest in software technology
that does this, even as we improve our internal processes and
sales and marketing efficiency.  All of this gives us confidence
that our Enterprise IT Management strategy is right on track,
and that we are also on track to meet our financial objectives,"
he concluded.

                    Second Quarter Results

Total revenue for the second quarter was US$1.067 billion, an
increase of 8%, or 5% in constant currency, compared to US$987
million reported in the comparable prior year period.

For the first half of fiscal 2008, total revenue was US$2.092
billion, up 8% or 5% in constant currency over the first half of
fiscal 2007.

Total North American revenue was up 5% in the second quarter
while revenue from international operations was up 12%, or 5% on
a constant currency basis, compared to the same period last
year.

Total product and services bookings in the second quarter were
US$1.007 billion, an increase of 46% over the US$690 million
reported in the comparable prior year period.  The increase in
bookings was driven primarily by an increase in the number of
large contracts, which were renewed in the quarter, as well as
an increase in contract length.  During the quarter, the Company
renewed 16 license agreements greater than US$10 million,
totaling US$334 million, compared to 6 such deals, totaling
US$113 million, in the prior year period.  The weighted average
duration of new direct bookings in the second quarter was 3.17
years, compared to 2.98 years in the prior year's second
quarter.

For the first half of fiscal 2008, total product and services
bookings were US$1.841 billion, up 47% from the US$1.252 billion
reported in the first half of fiscal 2007.  The company expects
total product and services bookings growth for the full fiscal
year to be in the low double digits.

Total expenses, before interest and income taxes, for the second
quarter were US$823 million, a decrease of 9%, or 11% in
constant currency, compared to US$907 million in the prior year
period. The second quarter was positively affected by a decrease
in amortization of capitalized software and lower restructuring
expenses from the comparable quarter last year.  In the second
quarter, GAAP operating income was US$244 million, representing
an operating margin of 23%, a 15-percentage point improvement
from the prior year period.

Total expenses, before interest and income taxes, for the first
half were US$1.637 billion, a decrease of 9%, or 11% in constant
currency, compared to the US$1.805 billion reported in the first
half of fiscal 2007.

On a non-GAAP basis, which excludes purchased software and
intangibles amortization and restructuring and other costs, the
Company reported second quarter operating expenses of US$779
million, up 3% from the US$756 million reported in the prior
year period. Excluding the negative impact of currency,
operating expenses were flat year-over-year.  In the second
quarter, non-GAAP operating income was US$288 million,
representing a non-GAAP operating margin of 27%, a 4 percentage
point improvement from the prior year period.

For the first half of fiscal 2008, non-GAAP operating expenses
were US$1.548 billion, virtually flat and down 2% in constant
currency from the US$1.539 billion reported in the same period
in fiscal 2007.

The Company recorded GAAP income from continuing operations of
US$137 million for the second quarter, or US$0.26 per diluted
common share, compared to US$54 million, or US$0.09 per diluted
common share, in the prior year period.  This improvement is a
result of higher revenue and the decrease in amortization of
software costs described above.

For the first half of 2008, GAAP income from continuing
operations was US$266 million, or US$0.49 per diluted common
share, up from the US$89 million, or US$0.15 per diluted common
share, reported in the same period in fiscal year 2007.

The company recorded non-GAAP income from continuing operations
of US$173 million for the second quarter, or US$0.32 per diluted
common share, compared to US$153 million, or US$0.26 per diluted
common share, reported a year earlier.  For the first half of
2008, non-GAAP income from continuing operations was US$332
million, up 29% from the first half of fiscal 2007, while non-
GAAP earnings per diluted common share were US$0.61 in the first
half of fiscal 2008, an increase of US$0.17, or 39%, over the
US$0.44 reported in the same period in fiscal 2007.

For the second quarter of fiscal year 2008, CA reported cash
flow from operations of US$193 million, compared to US$6 million
in cash flow from operations in the second quarter of fiscal
year 2007.  For the first half, CA reported US$180 million in
cash flow from operations, an improvement of US$220 million from
the first half of fiscal 2007.

                     Capital Structure

The balance of cash, cash equivalents and marketable securities
at Sept. 30, 2007, was US$1.890 billion.  With US$2.578 billion
in total debt outstanding, the company has a net debt position
of US$688 million.

                  Fiscal Year 2008 Outlook

The company updated its fiscal 2008 annual outlook based on
current expectations.

   * The range for total revenue increases to US$4.15 billion to
     US$4.2 billion from the prior outlook of US$4.05 billion to
     US$4.1 billion;

   * The new outlook reaffirms the Company's original guidance
     of 3 to 4% growth in constant currency;

   * The range for GAAP earnings per share from continuing
     operations increases to US$0.87 to US$0.91 per share from
     the previous outlook of US$0.75 to US$0.81 per share and
     includes US$35 million in charges from previously disclosed
     restructuring plans;

   * The range for Non-GAAP operating earnings per share
     increases to US$1.06 to US$1.10 per share compared to the
     previous outlook of US$0.94 to US$1 per share; and,

    * The full-year cash flow from operations outlook of US$1.05
      billion to US$1.1 billion is reaffirmed.

As previously stated, the company expects a total of
approximately US$470 million in cash tax payments during the
2008 fiscal year compared to US$296 million in tax payments paid
in fiscal year 2007.  On a pre-tax basis, the company expects
cash flow from operations to be US$1.52 billion to US$1.57
billion for the full year, representing annual growth of 11 to
15% compared to pre-tax cash flow last year.

The revenue and earnings per share projections are based on
current exchange rates and assume no acquisitions.

The company anticipates approximately 514 million shares
outstanding at fiscal year-end and a weighted average diluted
share count of approximately 542 million shares for the fiscal
year.  The company also expects a full-year tax rate on non-GAAP
net income of approximately 36%.

                          About CA

Headquartered in Islandia, New York, CA Inc. (NYSE:CA) --
http://www.ca.com/-- is an information technology management  
software company that unifies and simplifies the management
ofenterprise-wide IT.  Founded in 1976, CA serves customers in
more than 140 countries.  The company has operations in Brazil,
Indonesia, Luxembourg, Philippines and Thailand.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 7, 2007, Standard & Poor's Rating Services affirmed its
'BB' corporate credit and senior unsecured debt ratings on
Islandia, New York-based CA Inc.  S&P revised the outlook to
stable from negative.

As reported in the Troubled Company Reporter-Latin America on
May 31, 2007, Fitch has affirmed these ratings for CA, Inc.:

     -- Issuer Default Rating at 'BB+';

     -- Senior unsecured revolving credit facility expiring 2008
        at 'BB+';

     -- Senior unsecured debt at 'BB+'.


CHEMTURA CORP: Earns US$2 Million in 2007 Third Quarter
-------------------------------------------------------
Chemtura Corporation reported net earnings of US$2 million for
the third quarter of 2007 and net earnings on a non-GAAP basis
of US$19 million.

Net earnings for the quarter include earnings from continuing
operations of US$4 million; and loss on the sale of discontinued
operations of US$2 million.  On a non-GAAP basis, net earnings
include income from continuing operations of US$19 million.

"Our third quarter results demonstrated revenue growth of 9%, a
17% improvement in operating income and pre-tax earnings up 38%
on a non-GAAP basis compared with the third quarter of 2006,"
said Robert L. Wood, chairman and Chief Executive Officer.

"Three of our four business units showed improvement in both
revenue and operating income.  Crop Protection and Consumer
Products demonstrated particularly strong performance.  
Performance Specialties is also delivering on revenue and
earnings growth as well as the initial benefits of the Kaufman
acquisition."

"The shortfall in our earnings expectation was driven by a
decline in gross profit margins from 24% to 22%.  The decline
was principally focused in our Polymer Additives business where
we saw lower demand from electronics end markets (which impacts
our flame retardant products line in particular), continuing
weakness in building and construction, and higher raw material
costs, served to erode margins.  Despite the weakness in these
markets, Polymer Additives revenue grew by 4% in the quarter led
by a 19% increase in PVC Additives revenues.  Looking forward to
the fourth quarter, we are encouraged by increased orders in
September and October from the electronics industry, which is
usually seasonally strong in the fourth quarter."

"Finally, we continued to make progress with our cost reduction
initiatives.  SGA&R was down 7% compared to third quarter, 2006.
SGA&R for the quarter was 12% of net sales compared to 13% of
net sales in the same quarter of 2006.  Our focus remains on
performance improvement despite headwinds related to
electronics, construction demand and continuing raw material
cost pressure.  I remain confident that our underlying
performance will continue to improve and that the second half of
2007 will be better than the same period in 2006."

The company's total debt as of Sept. 30, 2007 was US$1.0 billion
as compared with US$1,143 million at June 30, 2007.  This
decrease primarily reflects the repayment of certain of the
company's committed working capital facilities.  Cash and cash
equivalents increased from US$76 million as of June 30, 2007 to
US$114 million as of Sept. 30, 2007.

                     About Chemtura Corp.

Headquartered in Middlebury, Connecticut, Chemtura Corp.
(NYSE:CEM) -- http://www.chemtura.com/-- is a global  
manufacturer and marketer of specialty chemicals, crop
protection, and pool, spa and home care products.  The company
has approximately 6,400 employees around the world and sells its
products in more than 100 countries.  The company has facilities
in Singapore, Australia, China, Hong Kong, India, Japan, South
Korea, Taiwan, Thailand, Brazil, Belgium, France, Germany,
Mexico, and The United Kingdom.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 18, 2007, Moody's Investors Service lowered Chemtura
Corporation's ratings:

   -- Corporate Family Rating: Ba2 from Ba1

   -- Senior notes, USUSUS$500 million due 2016: Ba2 from Ba1;
      LGD4 (53%)

   -- Senior Unsecured Notes, USUSUS$150 million due 2026: Ba2
      from Ba1; LGD4 (53%)

   -- Senior Unsecured Notes, USUSUS$400 million due 2009: Ba2
      from Ba1; LGD4 (53%)


DRESSER-RAND: UBS Maintains Neutral Rating on Firm's Shares
-----------------------------------------------------------
UBS analysts have kept their "neutral" rating on Dresser-Rand
Group Inc's shares, Newratings.com reports.

Newratings.com relates that the one-year target price for
Dresser-Rand's shares was increased to US$44 from US$43.

The analysts said in a research note that Dresser-Rand had
strong third quarter 2007 results.  Its earnings per share
surpassed estimates and consensus.

The analysts told Newratings.com that Dresser-Rand's guidance
this year "points towards US$85 million in operating income, in-
line with the consensus."

According to Newratings.com, UBS said that the earnings per
share estimate for next year was increased to indicate lower
interest expense and taxes.

The earnings per share estimates for 2007 and 2008 were
increased to US$1.38 from US$1.25 and to US$2.05 from US$1.95,
respectively, Newratings.com states.

Dresser-Rand Group Inc. (NYSE: DRC) is among the largest
suppliers of rotating equipment solutions to the worldwide oil,
gas, petrochemical, and process industries.  It operates
manufacturing facilities in the United States, France, Germany,
Norway, India, and Brazil, and maintains a network of 24 service
and support centers covering 105 countries.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Sept. 7, 2007, Standard & Poor's Ratings Services assigned its
bank loan and recovery ratings to the US$500 million senior
secured revolving credit facility due 2012 of Dresser-Rand Group
Inc. (BB-/Stable/--).


EMI GROUP: Terra Firma Leads Strategic Review to Recover Equity
---------------------------------------------------------------
Terra Firma Capital Partners Ltd. confirmed on Oct. 29, 2007,
that it was leading a strategic review on EMI Group Plc, amidst
reports that it will cut its interest in the company, The
Scotsman reports.

According to the report, Terra Firma wants to bring in outside
investors to recover some of the equity placed as part of the
GBP2.4 billion deal.

EMI could face job cuts and a clamp down on costs as its private
equity owner pursues to make savings, Scotsman relates.

A spokesman for Terra Firma told the Scotsman that the review
had been launched and was due to be completed by the end of the
year.

                      About Terra Firma

Terra Firma is a leading European private equity firm, created
in 2002 as the independent successor to the Principal Finance
Group, a division of Nomura that was created in 1994.  Terra
Firma focuses on buyouts of large, asset-rich and complex
businesses in need of operational and/or strategic change.

Since its inception in 1994, Terra Firma has invested over EUR7
billion of equity and has completed transactions with an
aggregate transaction value of over EUR30 billion.  Terra Firma
has offices in London and Frankfurt.

                          About EMI

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

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

The company issued two profit warnings since January 2007.

                        *     *     *

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

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

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


FIDELITY NATIONAL: Earns US$245.3 Million in Third Quarter 2007
---------------------------------------------------------------
Fidelity National Information Services, Inc. reported financial
results for the third quarter of 2007.  Consolidated revenue
increased to US$1.2 billion and net earnings totaled US$245.3
million, compared to last year's US$1 billion consolidated
revenue and US$78.5 million net earnings.

These results include after-tax gains of US$159.4 million and
after-tax restructuring and other charges of US$12.9 million.

FIS reported revenue growth of 10.4%, adjusted EBITDA growth of
14.4%.  These results include a partial month of eFunds
operations, which the company acquired on Sept. 12, 2007.

"FIS delivered another quarter of solid operating performance in
a challenging market," FIS Executive Chairman William P. Foley,
II, stated.

"The eFunds integration is off to a good start, and we remain
confident that the additional scale and product capabilities
will generate meaningful growth opportunities," FIS President
and Chief Executive Officer Lee A. Kennedy added.  "We are also
confident that we will achieve our targeted annualized run rate
cost savings of US$65 million by the end of 2009.  Based on our
preliminary assessment, we expect eFunds to contribute
approximately US$0.05 to US$0.10 to diluted cash earnings per
share in 2008."

Transaction Processing Services' adjusted EBITDA, which includes
a partial month of eFunds, increased 18.8% over the prior-year
quarter to US$186.7 million.  The adjusted EBITDA margin was
25.9%, which is a 170 basis point increase compared to prior
year.

Lender Processing Services' adjusted EBITDA was US$150.8
million, or 6.2% above the prior year quarter.  The adjusted
EBITDA margin was 33.9%, compared to 32.4% in the second quarter
of 2007, and 34.7% in the third quarter of 2006.  The decline
from the prior year quarter is the result of strong growth in
lower margin appraisal volumes and reduced volumes in
origination and tax services.

Corporate EBITDA, as adjusted, for the third quarter of 2007
totaled US$18.3 million.  The US$2.0 million decrease compared
to the prior year quarter is attributable to lower compensation
and benefit expense.  The effective tax rate was 37.0%.

                    About Fidelity National

Based in Jacksonville, Florida, Fidelity National Information
Services, Inc. -- http://www.fidelityinfoservices.com/--   
provides core processing for financial institutions; card issuer
and transaction processing services; mortgage loan processing
and mortgage related information products; and outsourcing
services to financial institutions, retailers, mortgage lenders
and real estate professionals.  FIS has processing and
technology relationships with 35 of the top 50 global banks,
including nine of the top ten.  Nearly 50% of all US residential
mortgages are processed using FIS software.  FIS maintains a
strong global presence, serving over 7,800 financial
institutions in more than 60 countries worldwide, including
Brazil and Japan.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Oct. 29, 2007,Standard & Poor's Ratings Services has placed its
ratings, including the 'BB' corporate credit rating, on Fidelity
National Information Services Inc. on CreditWatch with negative
implications.

Moody's Investors Service has placed Fidelity
National Information Services' ratings on review for possible
downgrade:

  -- US$1.6 billion First Lien Senior Secured Term Loan B Ba1
  -- US$2.1 billion First Lien Senior Secured Term Loan A Ba1
  -- US$900 million First Lien Senior Revolving Credit Facility
     Ba1
  -- US$200 million 4.75% (Certegy) notes due September 2008 Ba1
  -- Corporate Family Rating Ba1


FORD MOTOR: UAW Contract Negotiations Continue
----------------------------------------------
Debate between Ford Motor Company and the United Auto Workers
union on union-run trust financing recommenced at 9 a.m.,
Wednesday, after it broke off at 1 a.m. Wednesday morning
following high-level contract talks that began Tuesday morning,
Jui Chakravorty and Poornima Gupta of Reuters report citing a
source familiar with the matter.

Reuters' source says the union is also seeking a favorable deal
on UAW-represented U.S. plants that the company plans to close
as part of its turnaround plan announced last year.

UAW President Ron Gettelfinger joined the negotiations on
Tuesday, indicating that both parties are nearing a settlement,
acccording to various sources.

As reported in the Troubled Company Reporter on Oct. 30, 2007,
contract talks with Ford and the union speeded up after Chrysler
LLC ratified its four-year labor contract with the union on
Oct. 27, 2007.  Ford and the UAW have reached a new set of terms
for a labor contract, cutting thousands of jobs under a buyout
program.  If Ford could bargain cost savings from the UAW under
their new contract, the carmaker is likely change its plans on
closing six plants and displacing workers.

                Ford Family Controlling Stake

Resolved differences within the Ford family botched a proposed
sale of the family's 40% controlling stake in the company,
instigating heirs of founder Henry Ford to stop talks with
investment bankers, Francesco Guerrera in New York, John Reed in
London and Bernard Simon in Toronto of the Financial Times wrote
quoting people close to the situation.

                         About Ford

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.


GENERAL MOTORS: Investing US$73 Mln in Shreveport Assembly Plant
----------------------------------------------------------------
General Motors confirmed that it will invest US$73 million into
its Shreveport, Louisiana truck assembly plant to prepare the
plant for production of the all-new HUMMER H3T.

"GM's US$73-million investment in Shreveport is further proof
that the community remains an important part of GM's
manufacturing plan," Troy Clarke, GM Group Vice President and GM
North America President, said.  "The H3T is unique for HUMMER
because it is the brand's first true pickup.  Like every HUMMER
model, the H3T delivers capabilities unparalleled in the
marketplace and will carve out a new niche in the truck market.  
I'm happy to say that the men and women of Shreveport will be a
big part of this new growth."

Cal Rapson, UAW vice president and director of the GM
Department, also voiced strong support for the project.

"This investment is a testament to the members of UAW Local 2166
for their hard work and commitment to build high quality
products," Mr. Rapson said.  "UAW members at the Shreveport
plant are an important part of the team that is bringing this
exciting new GM vehicle to the market."

Larger than a midsize truck, smaller than a full-size, the H3T
delivers attitude, versatility and capability. And more
important, with a fully functional truck bed and one of the
industry's broadest range of personalization accessories, the
H3T provides a new level of lifestyle functionality to the
HUMMER portfolio and will draw new customers into the brand.  
The H3T is scheduled to arrive in dealerships by third quarter
2008.

"I am delighted that GM has once again chosen to increase
investments in Louisiana by expanding operations in Shreveport,"
Governor Blanco said.  "Louisiana looks to partner with
companies interested in doing business in our state who will not
only positively impact the region's economy with their activity,
but will also provide quality jobs with good benefits to our
workers.  Thank you for helping us move Louisiana forward."

In the last several years, GM has invested approximately
US$1.5 billion in the Shreveport facility.  This investment
along with the plant's annual payroll of US$160 million and
annual taxes of US$4.5 million, demonstrates that GM will
continue to be an economic force in the local community and
state of Louisiana for years to come.

Shreveport Assembly has built trucks since 1981, beginning with
the Chevy S-10.  The plant presently produces the HUMMER H3 and
Chevy Colorado and GMC Canyon mid-size pickup trucks.  
Shreveport Assembly employs approximately 2,100 employees.

                      About General Motors

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. 23, 2007,
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating and other ratings on General Motors Corp. and
removed them from CreditWatch with positive implications, where
they were placed Sept. 26, 2007, following agreement on the new
labor contract.  S&P said the outlook is stable.


FIRST DATA: Completes Check Forte Acquisition
---------------------------------------------
First Data Corp. has completed the acquisition of Check Forte
Processamento de Dados Ltda., a payment transaction processing
company in Sao Paulo, Brazil.

Founded in 1997, Check Forte provides data capture, switching
and POS terminal management and network processing services to
banks for bill payment transactions.  It also provides check
verification services directly to merchants.

"This acquisition will allow First Data to build on its existing
strengths and provide an extended portfolio of products and
services to the Brazilian marketplace," said Peter Harrington,
President, Latin America and Canada, First Data.  "First Data is
well equipped and positioned to support Check Forte's clients
and deliver a compelling service proposition."

"First Data is committed to Brazil and to continuing to
strengthen its local presence in the country," said David Yates,
President, First Data International.  "We have been present in
the country since 2002 and the acquisition of Check Forte
represents our promise to continue to invest in the region."

First Data's office in Sao Paulo, Brazil provides local support
to financial institutions using its VisionPLUS(R) transaction
processing solution.  In addition to Brazil, First Data has an
extensive reach across the region with offices in Argentina,
Costa Rica, Mexico, Miami, Panama, Puerto Rico and Uruguay.

                      About First Data

First Data Corp. (NYSE: FDC) -- http://www.firstdata.com/  
-- provides  electronic commerce and payment solutions for
businesses worldwide, including those in New Zealand, the
Netherlands and Mexico.  The company's portfolio of services and
solutions includes merchant transaction processing services;
credit, debit, private-label, gift, payroll and other prepaid
card offerings; fraud protection and authentication solutions;
receivables management solutions; electronic check acceptance
services through TeleCheck; as well as Internet commerce and
mobile payment solutions.  The company's STAR Network offers
PIN-secured debit acceptance at 2 million ATM and retail
locations.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Oct. 17, 2007, Fitch Ratings has assigned a 'B-' rating to First
Data Corp.'s proposed US$2 billion senior unsecured notes due
2015 offering.

As reported in the Troubled Company Reporter-Latin America on
Sept. 19, 2007, Moody's Investors Service has assigned these
ratings:

   -- Corporate Family Rating - B2

   -- US$2 billion senior secured revolving credit facility
      (expires 2013) - Ba3, LGD2 (27%)

   -- US$13 billion senior secured Term Loan B (due 2014) - Ba3,
      LGD2 (27%).


HEXION SPECIALTY: Closes German Resins Business Acquisition
-----------------------------------------------------------
Hexion Specialty Chemicals Inc. has completed its acquisition of
the German resins and formaldehyde business of Arkema GmbH.

The business is based in the Leuna industrial park in Leuna,
Germany, employs 100 people and generated revenues of EUR101
million in 2006.  It manufactures formaldehyde and formaldehyde-
based resins including urea-formaldehyde, melamine-urea-phenol-
formaldehyde and other melamine-based resin systems.  These
resins are used to manufacture engineered wood panels such as
oriented strandboard, particleboard and medium density
fiberboard.  It also produces impregnation resins used to
laminate decorative paper surfaces to wood products.  Hexion
announced an agreement in late May to acquire the Arkema
business.

"We are pleased to welcome this business and its associates into
the Hexion organization," said Dale Plante Hexion vice
president, Forest Products - Europe.  "The Leuna operation and
its team of people will strengthen Hexion's position in the
European wood products market, particularly in the important
German marketplace."

Plante will serve as managing director of the business, which
has been renamed Hexion Specialty Chemicals Forest Products
GmbH.  It will become part of Hexion's global forest product
resins network, which serves producers of engineered wood
products around the world.

Based in Columbus, Ohio, Hexion Specialty Chemicals Inc. --
http://www.hexion.com/-- serves the global wood and industrial  
markets through a broad range of thermoset technologies,
specialty products and technical support for customers in a
diverse range of applications and industries.  Hexion Specialty
Chemicals is owned by an affiliate of Apollo Management, L.P.
The company has locations in China, Australia, Netherlands, and
Brazil. It is an Apollo Management L.P. portfolio company.
Hexion had 2006 sales of US$5.2 billion and employs more than
7,000 associates.

                        *     *     *

As reported in the Troubled Company Reporter on July 9, 2007,
Standard & Poor's Ratings Services placed its 'B' corporate
credit rating and other ratings on Columbus, Ohio-based Hexion
Specialty Chemicals Inc. on CreditWatch with negative
implications.  The ratings on related entities were also placed
on CreditWatch.


JABIL CIRCUIT: Paying US$0.07 Per Share Dividend on Dec. 3
----------------------------------------------------------
Jabil Circuit Inc.'s Board of Directors has approved payment of
a quarterly dividend to shareholders of record as of
Nov. 15, 2007.  The dividend of US$0.07 per share is payable on
Dec. 3, 2007.

The company intends to continue to pay regular quarterly
dividends; however the declaration and payment of future
dividends are discretionary and will be subject to determination
by the Board each quarter following its review of the company's
financial performance.

Jabil Circuit, Inc., headquartered in St. Petersburg, Florida
-- http://www.jabil.com/-- is an electronic product solutions  
company providing comprehensive electronics design,
manufacturing and product management services to global
electronics and technology companies.  Jabil Circuit has more
than 50,000 employees and facilities in 20 countries, including
Brazil, Mexico, United Kingdom and Japan.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Oct. 16, 2007, Fitch Ratings has downgraded and removed from
Rating Watch Negative these ratings of Jabil Circuit, Inc.:

-- Issuer Default Rating to 'BB+' from 'BBB-';
-- Senior unsecured revolving credit facility to 'BB+' from
    'BBB-';
-- Senior unsecured debt to 'BB+' from 'BBB-'


PRIDE INT'L: Earns US$401.5 Million for Quarter Ended Sept. 30
--------------------------------------------------------------
Pride International Inc. reported financial results for the
three months ended Sept. 30, 2007.  Net income for the quarter
totaled US$401.5 million, reflecting the impact of certain asset
dispositions.

During the quarter, the company sold its Latin America Land and
E&P Services segments for US$1.0 billion in cash and entered
into an agreement to sell its three tender-assist rigs for total
proceeds of US$213 million in cash.  The disposition of the
Latin America Land and E&P Services segments, which was included
in the Company's third quarter results, resulted in an after-tax
gain of US$265.0 million, or US$1.48 per diluted share.  The
sale of the three tender-assist rigs is expected to close in
early 2008, subject to the novation of drilling contracts by the
customers for each unit and other closing conditions.

The company reported the results of operations and the
associated gain on sale of both the Latin America Land and E&P
Services segments and the results of operations for the quarter
from three tender-assist units as income from discontinued
operations for the third quarter of 2007 and all comparative
periods.  Income from discontinued operations totaled US$281.2
million for the quarter.

Louis A. Raspino, President and Chief Executive Officer of Pride
International, Inc., stated, "The third quarter of 2007 was one
of the most significant quarters in the history of Pride as we
advance the transformation of the company to an offshore-focused
contract driller with an emphasis on deepwater and other high
specification rigs.  Toward this goal, numerous accomplishments
were achieved during the period, including:

  -- The execution of an agreement to sell our Latin America
     Land and E&P Services business segments for US$1 billion in
     cash and the closing of that transaction only three weeks
     later on Aug. 31, 2007,

  -- A commitment to the construction of an ultra-deepwater
     drillship,

  -- The acquisition of an ultra-deepwater drillship in the
     early stages of construction,

  -- An agreement to sell three tender-assist rigs for US$213
     million in cash, and

  -- The acquisition of the remaining nine percent interest in
     our Angolan joint venture for US$45 million in cash, giving
     us 100 percent ownership in three rigs, including two
     deepwater drillships."

"Our earnings from operations from semisubmersibles and
drillships (floaters) approached 60 percent in the third quarter
of 2007 compared to 34 percent one year ago and is expected to
continue to grow as new contracts commence at higher dayrates
reflecting the tightness in the floating rig market.  In
addition, our strong cash position, coupled with improving cash
flow from operations and the prospects for further cash proceeds
following the disposal of additional non-strategic assets,
provides us with increased flexibility as we address numerous
growth opportunities and other means to enhance shareholder
value."

                     Continuing Operations

Income from continuing operations, consisting primarily of the
company's Offshore Drilling Services segment, was US$120.3
million on revenues of US$540.4 million for the third quarter of
2007.  The results compare to income from continuing operations
of US$66.0 million on revenues of US$406.0 million during the
corresponding quarter in 2006.

During the quarter, the company completed a technical evaluation
of its entire offshore fleet.  As a result of this evaluation,
there was a change in estimates regarding useful lives and
salvage values on certain rigs in the fleet.  These changes were
primarily a result of changing market conditions, the recent
significant capital investment in certain rigs and revisions to
and standardization of maintenance practices.  As a result of
these changes, the third quarter of 2007 includes a reduction in
depreciation expense of US$14.5 million, or an after-tax benefit
of US$0.07 per diluted share.  In addition to the changes
impacting depreciation expense, net income from continuing
operations for the quarter also included a tax benefit of
US$10.2 million due to the recognition of foreign tax credits
that had been previously treated as tax deductions in prior
quarters.  This helped reduce its effective tax rate to 27% for
the period.  Realization of this additional tax benefit is based
primarily on the company's forecasts of future profitability,
along with the application of certain tax planning strategies.  
In future quarters, the company expects to continue to recognize
the benefit of these foreign tax credits.  Finally, in August
2007, the company acquired from its partner Sonangol the
remaining nine percent interest in the joint venture related to
the company's Angolan operations for US$45 million in cash,
bringing the company's ownership interest to 100% and adding
approximately US$1.6 million to the company's income from
continuing operations.

Total debt at Sept. 30, 2007, was US$1,212.4 million, while net
debt (total debt less cash and cash equivalents of US$880.6
million) was US$331.8 million.

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

                        *     *     *

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

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

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

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

Pride Ratings Affirmed:

  -- Ba1 CFR and Probability of Default Rating;

  -- USUS$500 million Senior Notes due 2014 rated Ba2 (LGD5,
     71%);

  -- USUS$500 million Senior Secured Credit Facility rated Baa2
    (LGD2, 13%);

  -- Speculative Grade Liquidity Rating -- SGL-2;

  -- Senior Unsecured Shelf rated (P)Ba2 (LGD5, 71%);

  -- Subordinated Shelf rated (P)Ba2 (LGD6, 97%);

  -- Preferred Shelf rated Ba2 (LGD6, 97%).


* BRAZIL: Petrobras Inks US$1.2B P-56 Rig Deal with Shipyards
-------------------------------------------------------------
Brazilian state-run oil firm Petroleo Brasileiro SA has entered
into a US$1.2-billion deal with Brazilian shipyards for the
construction of the P-56 semi-submersible rig for the Marlim Sul
field in the Campos basin, Business News Americas reports.

Petroleo Brasileiro said in a statement that the FSTP consortium
will build the platform.  The consortium is composed of
shipyards Keppel Fels and Technip.

BNamericas relates taht the P-56 project will be similar to the
P-51.  The FSTP is also developing P-51 for Marlim Sul.

Petroleo Brasileiro told BNamericas that similarities between P-
56 and P-51 will speed up the schedule for the start of oil
output at Marlim Sul.

P-56 will process about 100,000 barrels per day and six million
cubic meters per day of natural gas.  It will start operating in
late 2010, BNamericas states, citing Petroleo Brasileiro.

                        *     *     *

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


BATTERY PARK: Proofs of Claim Filing Ends on Nov. 15
----------------------------------------------------
Battery Park Emerging Sovereign Opportunity Offshore Fund,
Ltd.'s creditors are given until Nov. 15, 2007, to prove their
claims to Stuart K. Sybersma and Ian A. N. Wight, 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.

Battery Park's shareholder agreed on Oct. 1, 2007, to place the
company into voluntary liquidation under The Companies Law (2004
Revision) of the Cayman Islands.

The liquidators can be reached at:

             Stuart K. Sybersma
             Ian A. N. Wight
             Attention: Jessica Turnbull
             Deloitte
             P.O. Box 1787, George Town
             Grand Cayman, Cayman Islands
             Telephone: (345) 949 7500
             Fax: (345) 949 8258


CHINA EDUCATION: Proofs of Claim Filing Deadline Is Nov. 15
-----------------------------------------------------------
China Education II 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.

China Education's shareholder agreed on Oct. 2, 2007, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

             Linburgh Martin
             Jeff Arkley
             Attention: Neil Gray
             Close Brothers (Cayman) Limited
             Fourth Floor, Harbor Place
             P.O. Box 1034, George Town
             Grand Cayman, Cayman Islands
             Telephone: (345) 949 8455
             Fax: (345) 949 8499


CRESCENT BELLE: Proofs of Claim Filing Is Until Nov. 15
-------------------------------------------------------
Crescent Belle 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.

Crescent Belle's shareholder agreed on Aug. 6, 2007, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

             Linburgh Martin
             Jeff Arkley
             Attention: Neil Gray
             Close Brothers (Cayman) Limited
             Fourth Floor, Harbor Place
             P.O. Box 1034, George Town
             Grand Cayman, Cayman Islands
             Telephone: (345) 949 8455
             Fax: (345) 949 8499


CRESCENT CENTRAL: Proofs of Claim Filing Deadline Is Nov. 15
------------------------------------------------------------
Crescent Central SPV 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.

Crescent Central's shareholder agreed on Oct. 15, 2007, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

             Linburgh Martin
             Jeff Arkley
             Attention: Neil Gray
             Close Brothers (Cayman) Limited
             Fourth Floor, Harbor Place
             P.O. Box 1034, George Town
             Grand Cayman, Cayman Islands
             Telephone: (345) 949 8455
             Fax: (345) 949 8499


GLOBAL ADVISORS: Proofs of Claim Filing Deadline Is Nov. 15
-----------------------------------------------------------
Global Advisors Commodity Investment Fund Limited's creditors
are given until Nov. 15, 2007, to prove their claims to Geoffrey
Varga, 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.

Global Advisors' shareholder agreed on Oct. 2, 2007, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

             Geoffrey Varga
             Attention: Bernadette Bailey-Lewis
             Kinetic Partners Cayman LLP
             Strathvale House
             P.O. Box 10387 APO
             Grand Cayman, Cayman Islands
             Telephone: (345) 623 9903
             Fax: (345) 623 0007


GLOBAL COMMODITY: Proofs of Claim Filing Is Until Nov. 15
---------------------------------------------------------
Global Commodity Index Plus Master Limited's creditors are given
until Nov. 15, 2007, to prove their claims to Geoffrey Varga,
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.

Global Commodity's shareholder agreed on Oct. 2, 2007, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

             Geoffrey Varga
             Attention: Bernadette Bailey-Lewis
             Kinetic Partners Cayman LLP
             Strathvale House
             P.O. Box 10387 APO
             Grand Cayman, Cayman Islands
             Telephone: (345) 623 9903
             Fax: (345) 623 0007


GLOBAL COMMODITY INDEX: Proofs of Claim Filing Ends on Nov. 15
--------------------------------------------------------------
Global Commodity Index Plus Limited's creditors are given until
Nov. 15, 2007, to prove their claims to Geoffrey Varga, 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.

Global Commodity's shareholder agreed on Oct. 2, 2007, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

             Geoffrey Varga
             Attention: Bernadette Bailey-Lewis
             Kinetic Partners Cayman LLP
             Strathvale House
             P.O. Box 10387 APO
             Grand Cayman, Cayman Islands
             Telephone: (345) 623 9903
             Fax: (345) 623 0007


LLTM LTD: Proofs of Claim Filing Deadline Is Nov. 15
----------------------------------------------------
LLTM, LTD.'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.

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

The liquidators can be reached at:

             Linburgh Martin
             Jeff Arkley
             Attention: Neil Gray
             Close Brothers (Cayman) Limited
             Fourth Floor, Harbor Place
             P.O. Box 1034, George Town
             Grand Cayman, Cayman Islands
             Telephone: (345) 949 8455
             Fax: (345) 949 8499


PAN-ASIA PETROLEUM: Proofs of Claim Filing Is Until Nov. 15
-----------------------------------------------------------
Pan-Asia Petroleum And Bulk Storage Company Ltd.'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.

Pan-Asia Petroleum's shareholder agreed on Sept. 17, 2007, to
place the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

             Linburgh Martin
             Jeff Arkley
             Close Brothers (Cayman) Limited
             Fourth Floor, Harbor Place
             P.O. Box 1034, George Town
             Grand Cayman, Cayman Islands


PARMALAT SPA: Court Moves Injunction Hearing to Feb. 14
-------------------------------------------------------
The United States Bankruptcy Court for the Southern District of
New York has adjourned until Feb. 14, 2008, at 10:00 a.m., the
hearing to consider the Preliminary Injunction request of
Gordon I. MacRae and James Cleaver, as Joint Official
Liquidators of Parmalat Capital Finance Limited, Dairy Holdings
Limited, and Food Holdings Limited, on one hand, and Parmalat
Finanziaria S.p.A., and its affiliates and subsidiaries, under
the direction of Dr. Enrico Bondi, Extraordinary Administrator
of the Parmalat companies, on the other hand.

Each of the Petitioners and Parmalat reserve all rights and
arguments with respect to the proceedings under Section 304 of
the Bankruptcy Code.

In addition, U.S. Bankruptcy Judge Robert Drain extended
Parmalat's time to answer the Section 304 Petition commencing
the ancillary proceedings until March 18, unless otherwise
ordered by the Bankruptcy Court.

Judge Drain rules that the Temporary Restraining Order will
remain in effect pursuant to the Order until February 14.

Exhibit and witness lists related to any Preliminary Injunction
Hearing must be served and filed by February 8.

                       About Parmalat

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

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

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

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

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

The Honorable Robert D. Drain presides over the Parmalat
Debtors' U.S. cases.  (Parmalat Lumber Bankruptcy News, Issue
No. 93; http://bankrupt.com/newsstand/or 215/945-7000).


PARMALAT SPA: Allocated Shares Hike Stock Capital
-------------------------------------------------
Parmalat S.p.A. relates that, following the allocation of shares
to creditors of the Parmalat Group, the subscribed and fully
paid up share capital has now been increased by EUR43,002 to
EUR1,652,040,437 from EUR1,651,997,435.

The share capital increase is due to the exercise of 42,224
warrants and the assignation of 778 shares.

The latest status of the share allotment is that 34,962,957
shares representing approximately 2.1% of the share capital are
still in a deposit account c/o Parmalat S.p.A., of which:

   -- 13,481,247 or 0.8% of the share capital, registered in the
      name of individually identified commercial creditors, are  
      still deposited in the intermediary account of
      Parmalat S.p.A. managed by Monte Titoli (compared with
      13,567,303 shares as at Sept. 28, 2007);

   -- 21,481,710 or 1.3% of the share capital registered in the
      name of the Foundation, called Creditori Parmalat, of
      which:

      * 120,000 shares representing the initial share capital  
        of Parmalat S.p.A. (unchanged);

      * 21,361,710 or 1.3% of the share capital that pertain to  
        currently undisclosed creditors (compared with
        21,567,972 shares as at Sept. 28, 2007).

                       About Parmalat

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

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

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

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

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

The Honorable Robert D. Drain presides over the Parmalat
Debtors' U.S. cases.


PROJECT CENTRAL: Proofs of Claim Filing Deadline Is 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 shareholder agreed on Sept. 17, 2007, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

             Linburgh Martin
             Jeff Arkley
             Attention: Neil Gray
             Close Brothers (Cayman) Limited
             Fourth Floor, Harbor Place
             P.O. Box 1034, George Town
             Grand Cayman, Cayman Islands
             Telephone: (345) 949 8455
             Fax: (345) 949 8499


SAPIC II: Proofs of Claim Filing Deadline Is Nov. 15
----------------------------------------------------
Sapic II Reference Fund (1) Limited's creditors are given until
Nov. 15, 2007, to prove their claims to Peter D. Anderson and
Alan Milgate of Rawlinson & Hunter, 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.

Sapic II's shareholder agreed on Oct. 2, 2007, to place the
company into voluntary liquidation under The Companies Law (2004
Revision) of the Cayman Islands.

The liquidators can be reached at:

             Peter D. Anderson
             Alan Milgate
             Rawlinson & Hunter
             P.O. Box 897, Third Floor
             One Capital Place, George Town
             Grand Cayman KY1-1103, Cayman Islands
             Telephone: (345) 949 7576
             Fax: (345) 949 8295


SAPIC II REFERENCE: Proofs of Claim Filing Ends on Nov. 15
----------------------------------------------------------
Sapic II Reference Fund (6) Limited's creditors are given until
Nov. 15, 2007, to prove their claims to Peter D. Anderson and
Alan Milgate of Rawlinson & Hunter, 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.

Sapic II's shareholder agreed on Oct. 2, 2007, to place the
company into voluntary liquidation under The Companies Law (2004
Revision) of the Cayman Islands.

The liquidators can be reached at:

             Peter D. Anderson
             Alan Milgate
             Rawlinson & Hunter
             P.O. Box 897, Third Floor
             One Capital Place, George Town
             Grand Cayman KY1-1103, Cayman Islands
             Telephone: (345) 949 7576
             Fax: (345) 949 8295


SAPIC II REFERENCE FUND: Claims Filing Deadline Is Nov. 15
----------------------------------------------------------
Sapic II Reference Fund (12) Limited's creditors are given until
Nov. 15, 2007, to prove their claims to Peter D. Anderson and
Alan Milgate of Rawlinson & Hunter, 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.

Sapic II's shareholder agreed on Oct. 2, 2007, to place the
company into voluntary liquidation under The Companies Law (2004
Revision) of the Cayman Islands.

The liquidators can be reached at:

             Peter D. Anderson
             Alan Milgate
             Rawlinson & Hunter
             P.O. Box 897, Third Floor
             One Capital Place, George Town
             Grand Cayman KY1-1103, Cayman Islands
             Telephone: (345) 949 7576
             Fax: (345) 949 8295


SECURITY CAPITAL: Proofs of Claim Filing Is Until Nov. 15
---------------------------------------------------------
Security Capital Ltd.'s creditors are given until Nov. 15, 2007,
to prove their claims to Geoffrey Varga and William Cleghorn,
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 The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

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


SOLARIS SPECTRA: Proofs of Claim Filing Is Until 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 shareholder agreed on Sept. 24, 2007, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

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

Contact for inquiries:

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


SOUTHWEST UNDERWRITERS: Proofs of Claim Filing Ends on 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' shareholder agreed on Sept. 18, 2007, to
place the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

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

Contact for inquiries:

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


STAR CAPTURE: Proofs of Claim Filing Is Until 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 shareholder agreed on Sept. 24, 2007, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

           Piccadilly Cayman Limited
           c/o BNP Paribas Bank & Trust Cayman Limited
           P.O. Box 10632 APO, Grand Cayman
           Cayman Islands

Contact for inquiries:

           Ellen J. Christian
           c/o BNP Paribas Bank & Trust Cayman Limited
           3rd Floor Royal Bank House, Shedden Road
           George Town, Grand Cayman
           Telephone: 345 945 9208
           Fax: 345 945 9210


TERTIA LTD: Proofs of Claim Filing Deadline Is Nov. 15
------------------------------------------------------
Tertia Limited's creditors are given until Nov. 15, 2007, to
prove their claims to Helvetic Management Services 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.

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

The liquidator can be reached at:

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




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


BUCYRUS INT'L: Paying US$0.05 Per Share Quarterly Dividend
----------------------------------------------------------
The Board of Directors of Bucyrus International, Inc., has
declared a quarterly dividend of US$0.05 per share on Bucyrus'
Class A common stock.  The dividend is payable Dec. 3, 2007, to
Bucyrus stockholders of record on Nov. 15, 2007.  Bucyrus' Class
A common stock is quoted on the NASDAQ Global Select Market
under the symbol "BUCY."

              About Bucyrus International, Inc.

Bucyrus International -- http://www.bucyrus.com/-- is a leading  
manufacturer of electric mining shovels, walking draglines and
rotary blasthole drills and provides aftermarket replacement
parts and services for these machines.  For the 12 months ended
Sept. 30, 2006, Bucyrus had sales of US$705 million.  Bucyrus is
headquartered in South Milwaukee, Wisconsin.  DBT has eight
facilities around the world and approximately 3,200 employees.  
The company has operations in Brazil, Chile, China and Europe.

                        *     *     *

As reported in the Troubled Company Reporter-LAtin America on
June 7, 2007, Standard & Poor's Ratings Services revised its
recovery rating on Bucyrus's credit facilities.  The bank loan
rating remains 'BB-', however the recovery rating was revised to
'3' from '4', indicating S&P's expectation that these lenders
would receive meaningful recovery (50%-80%) in a payment
default.

The paydown of more than US$300 million in the term loan -- to
US$500 million from US$825 million from proceeds of a recent
equity offering -- was the primary reason for the rating change.

The corporate credit rating on Bucyrus is BB-/Positive/--


FRESH DEL MONTE: Discloses 12,000,000 Ordinary Shares Offering
--------------------------------------------------------------
Fresh Del Monte Produce Inc. has intended to offer 12,000,000
ordinary shares, of which 5,000,000 ordinary shares are expected
to be sold by Fresh Del Monte and 7,000,000 ordinary shares are
expected to be sold by IAT Group Inc., under Fresh Del Monte's
existing shelf registration statement filed with the Securities
and Exchange Commission.  Fresh Del Monte and IAT Group also
intend to grant the underwriters an option to purchase up to a
combined 1,800,000 additional ordinary shares solely to cover
over-allotments, if any.

Fresh Del Monte currently intends to use the net proceeds from
the offering for the repayment of indebtedness outstanding under
its credit facility. Fresh Del Monte will not receive any
proceeds from the sale of ordinary shares by IAT Group.

Morgan Stanley & Co. Incorporated is the sole book-running
manager, with Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Piper Jaffray & Co. and Wachovia Capital Markets,
LLC acting as co-managers of the offering.

The offering is being made only by means of a prospectus
supplement and accompanying prospectus, copies of which are
available for review at http://www.sec.gov/

Alternatively, those documents may be obtained by contacting:

        Morgan Stanley & Co. Incorporated
        Prospectus Department
        180 Varick Street, 2nd Floor
        New York, NY 10014
        Tel: 1-866-718-1649

Based in the Cayman Islands, Fresh Del Monte Produce Inc. --
http://www.freshdelmonte.com/-- is one of the world's leading  
vertically  integrated producers, marketers and distributors of
high-quality fresh and fresh-cut fruit and vegetables, as well
as a leading producer and distributor of prepared fruit and
vegetables, juices, beverages, snacks and desserts in Europe,
the Middle East and Africa.  Fresh Del Monte markets its
products worldwide under the Del Monte(R) brand, a symbol of
product quality, freshness and reliability since 1892.

Del Monte Fresh Produce Company has operations in Chile, Brazil,
France, Philippines, and Korea.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 16, 2007, Standard & Poor's Ratings Services assigned its
preliminary 'B' senior unsecured debt, preliminary 'B'
subordinated debt, and preliminary 'B-' preferred stock ratings
to Fresh Del Monte Produce Inc.'s Rule 415 universal shelf
registration for debt securities.




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


ALCATEL-LUCENT SA: Posts EUR318 Million Net Loss in 3rd Quarter
---------------------------------------------------------------
Alcatel-Lucent S.A. posted a EUR318 million net loss on
EUR4.35 billion net revenues for the third quarter 2007.  For
the quarter, the company reported a EUR345 million group net
loss, including EUR87 million in impact from purchase price
allocation entries.

Alcatel-Lucent also provided adjusted financial results to show
provide comparable information, which exclude the main non-cash
impacts from purchase price allocation entries.  

For the third quarter, Alcatel-Lucent posted EUR231 million in
adjusted net loss and EUR258 million in adjusted group net loss.

As of Sept. 30, 2007, the company's debts total EUR124 million.

"As you can see our results this quarter were essentially in
line with the update we provided on September 13, and in a few
areas a bit better; however they are still not at a level that
we are satisfied with," chief executive Patricia Russo said.

"We believe that our strategy, our product portfolio and our
expertise align with the long-term market drivers that will
underpin the industry for the next several years, as networks
migrate to all-IP based architecture.  During the first nine
months of operations as a single company, we strengthened our
position in key strategic markets and technologies such as IP
and mobile broadband required to position the company for long-
term sustained growth.

"Having said that, and in spite of the promise of this industry
and the long-term benefits of the merger, we recognize that
market conditions remain difficult, with continued pressure on
revenues and margins due to intensified competition and some
slowdown of spending in North America.  These market conditions
along with our commitment to transform the company for the long-
term lead us to put in place an aggressive three-part plan to
improve profitability and reposition the business."

The Board fully supports the plan presented, which includes:

   -- streamlining the core carrier business, accelerated
      product cost improvement with increased portfolio focus on
      IP transformation of wireline and wireless networks;

   -- enhancing growth by developing an offensive strategy on
      sectors offering a strong growth potential, namely:

      * high value added services and applications for the
        carrier markets;

      * solutions for the enterprise markets and Industry and
        Public Sector; and

   -- streamlining the company's organization into a simplified
      model with a focused management committee with clear
      accountabilities and ownership to quickly execute the
      plans.

This plan will result in an acceleration of cost structure
improvement, especially in support functions and other savings
arising from the realigned and streamlined Carrier Business
Group.  

The company expects that this plan will result in incremental
savings of EUR400 million in gross margin and comparable
operating expenses by the end of year 2009.  This implies an
acceleration of our ongoing headcount targets into 2008 with
incremental reductions of about 4,000 by 2009.

Ms. Russo added, "These are difficult but necessary decisions,
and we will manage these reductions with care. With this plan,
the company is targeting gross margins in the high 30's and
operating margins of 10% or better in the post integration phase
beginning 2010."

                           Outlook

For the fourth quarter 2007 the company expects a solid ramp up
in revenue over the third quarter 2007.  For the full year,
given some of the recent uncertainty seen in the market,
revenues are likely to be around flat at constant Euro/US$
exchange rate which is at the low end of the range previously
provided.

                     About Alcatel-Lucent

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

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

                        *     *     *

As reported on Sept. 19, 2007, that Standard & Poor's Ratings
Services revised its outlook on international equipment supplier
Alcatel-Lucent and related entity Lucent Technologies Inc. to
stable from positive.  At the same time, the 'BB-' long-term
corporate credit ratings on the group were affirmed.  The 'B'
short-term corporate credit rating on Alcatel-Lucent and 'B-1'
short-term rating on Lucent Technologies were also affirmed.

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

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


ALCATEL-LUCENT SA: Names Hubert de Pesquidoux as CFO
----------------------------------------------------
Alcatel-Lucent S.A. has appointed Hubert de Pesquidoux as Chief
Financial Officer, replacing Jean-Pascal Beaufret, who is
leaving the company to pursue other opportunities.  Mr.
Pesquidoux currently leads Alcatel-Lucent's Enterprise Group.  

"I want to thank Jean-Pascal for his considerable contributions
to this company.  He has been a valuable member of the team.  
His experience and dedication to this new company have helped us
through the difficult, early stages of this complex merger while
dealing with a challenging market," chief executive Patricia
Russo said.  

"Prior to the merger, Jean-Pascal served as CFO of Alcatel
during much of this turbulent decade in the industry, ably
helping to guide it while astutely managing the assets and
resources of the company and was instrumental in the financial
turnaround of Alcatel.  I wish him success in the next phase of
his career."

Mr. Beaufret will stay with the company for a period of time to
ensure a smooth transition.

"I am looking forward to working with his successor, Hubert, who
has been a key contributor to the success of our Enterprise
business," Ms. Russo added.  "Hubert has a great deal of
experience in both operational and financial roles throughout
his career."

Before his position as head of the company's Enterprise
activities, Mr. de Pesquidoux held several finance positions.    
He was Chief Financial Officer of Alcatel North America,
Corporate Treasurer of Alcatel for four years and spent four
years in investment banking, including two years in New York
City.  He also has led Alcatel's North America operations and
was a member of the Alcatel Executive Committee.  He joined
Alcatel in 1991.  

Mr. de Pesquidoux's replacement for his current position will be
named at a later date.

                     About Alcatel-Lucent

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

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

                        *     *     *

As reported on Sept. 19, 2007, that Standard & Poor's Ratings
Services revised its outlook on international equipment supplier
Alcatel-Lucent and related entity Lucent Technologies Inc. to
stable from positive.  At the same time, the 'BB-' long-term
corporate credit ratings on the group were affirmed.  The 'B'
short-term corporate credit rating on Alcatel-Lucent and 'B-1'
short-term rating on Lucent Technologies were also affirmed.

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

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




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


JETBLUE AIRWAYS: Names Noreen Courtney-Wilds as VP for Sales
------------------------------------------------------------
JetBlue Airways has appointed Noreen Courtney-Wilds to the
position of Vice President Sales, effective immediately.  In
this newly created position, Ms. Courtney-Wilds will be
responsible for the low-fare airline's sales and distribution
strategy, and will report to Chief Executive Officer Dave
Barger.

"Noreen has been a valuable member of the JetBlue team since she
joined the company more than seven years ago," said Mr. Barger.  
"In this expanded role, Noreen will lead our sales and
distribution strategy to the next level.  Creating this position
underscores JetBlue's commitment to reaching new customers and
making it as easy to buy as it is to fly JetBlue."

Ms. Courtney-Wilds joined JetBlue in July 2000 as manager of
sales, and was most recently director of sales and distribution.  
Prior to joining JetBlue, Ms. Courtney-Wilds held manager
positions at Virgin Atlantic and Aer Lingus. She lives in
Leonia, New Jersey.

                 About JetBlue Airways Corp.

Headquartered in Forest Hills, New York, JetBlue Airways Corp.
(Nasdaq: JBLU) -- http://www.jetblue.com/-- provides passenger    
air transportation services in the United States.  As of
Feb. 14, 2007, it operated approximately 502 daily flights
serving 50 destinations in 21 states, Bahamas, Bermuda,
Dominican Republic, Puerto Rico, Mexico, and the Caribbean; and
a fleet of 98 Airbus A320 aircraft and 23 EMBRAER 190 aircraft.  
The company also provides in-flight entertainment systems for
commercial aircraft, including live in-seat satellite
television, digital satellite radio, wireless aircraft data link
service, and cabin surveillance systems and Internet services,
through its wholly owned subsidiary, LiveTV LLC.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 15, 2007, Fitch Ratings affirmed the debt ratings of
JetBlue Airways Corp. as:

  -- Issuer Default Rating at 'B'

  -- Senior unsecured convertible notes at 'CCC' with a recovery
     rating of 'RR6'

The senior unsecured rating applies to US$425 million of
outstanding convertible notes.




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


PETROECUADOR: Earns US$3.34B from Crude Export in Nine Months
-------------------------------------------------------------
Ecuador's state-owned oil firm Petroecuador said in a statement
earned US$3.34 billion from the export of Oriente and Napo
crude, fuel oil, naphtha and diesel in the first nine months of
2007.

Business News Americas relates that Petroecuador's exports in
the first nine months of this year totaled 61.3 million barrels.  
Oriente and Napo crude accounted for 50.5 million barrels worth
US$2.78 billion.  Fuel oil, naphtha and diesel represented 10.8
million barrels worth US$562 million.

According to Petroecuador's statement, October 2007 was its best
month for exports.  The barrel price was at US$76.33.

Meanwhile, Petroecuador imported about 16.1 million barrels of
diesel, fuel oil and fuel oil solvent, which in total cost
US$1.37 billion, in the first nine months of 2007, BNamericas
notes.  The firm also shipped in some 622 million tons of
liquefied petroleum gas for US$444 million.

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.




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


AFFILIATED COMPUTER: Cerberus Withdraws Acquisition Offer
---------------------------------------------------------
Affiliated Computer Services, Inc., disclosed in a regulatory
filing with the U.S. Securities and Exchange Commission that on
Oct. 30, 2007, the Special Committee of its Board of Directors
receive a letter from Cerberus Capital Management, L.P., stating
that Cerberus was withdrawing its offer to acquire the company.

In the letter, Cerberus said that although it believes that the
company is an attractive investment opportunity, it had to
withdraw its offer due to the continuation of poor conditions in
the debt financing markets.

Cerberus further said that had the company's Special Committee
engaged with Cerberus and Mr. Darwin Deason, Chairman of the
Board of ACS, on the schedule proposed in the original offer
letter, the acquisition would been approved and closed months
ago.  Cerberus however stated that it market conditions change,
it may consider proposing another transaction with ACS.

                      Cerberus Offer

As reported in the Troubled Company Reporter on March 23, 2007,
the company confirmed that it received a proposal from Mr.
Deason and Cerberus to acquire, for a cash purchase price of
US$59.25 per share, all of the outstanding shares of the
company's common stock, other than certain shares and options
held by Mr. Deason and members of the company's management team
that would be rolled into equity securities of the acquiring
entity in connection with the proposed transaction.

Mr. Deason and Cerberus stated that their proposed price
represented a premium of 15.5% over the closing price of the
company's class A common stock on March 19, 2007, and an 18.3%
premium over the 90-day average closing price.

The proponents had anticipated to execute a merger agreement in
early May 2007.

In connection with their proposal, Mr. Deason and Cerberus
entered into an Exclusivity Agreement, dated March 20, 2007,
pursuant to which Mr. Deason agreed to work exclusively with
Cerberus to negotiate an acquisition of the company.

                 Citigroup Commitment Letter

In order to further support their offer, Mr. Deason and Cerberus
disclosed that they received a letter from Citigroup Global
Markets Inc. stating that it is highly confident of its ability
to raise the debt necessary to complete the transaction.

              Suspension of Exclusivity Agreement

However, as reported in the Troubled Company Reporter on
June 12, 2007, the company reached an agreement with Mr. Deason
to suspend the Exclusivity Agreement between Mr. Deason and
Cerberus.

                           Lawsuit

As reported in the Class Action Reporter on April 12, 2007, the
company disclosed in a regulatory filing that it was facing two
class actions filed in the Court of Chancery of the State of
Delaware, New Castle County against the company and certain
directors.

The lawsuits were filed by purported shareholders opposed to a
proposal to acquire the company presented by Mr. Deason and
Cerberus.  In each of the lawsuits, the plaintiff claims to be a
shareholder of the company purporting to bring the action on
behalf of all public shareholders of the company and alleges
that the proposal is "inadequate and to have resulted from an
unfair process."

               About Cerberus Capital Management

Headquartered in New York City, and established in 1992,
Cerberus Capital Management LP is one of the world's leading
private investment firms with approximately US$25 billion of
capital under management in funds and accounts.  Through its
team of investment and operations professionals, Cerberus
specializes in providing both financial resources and
operational expertise to help transform its portfolio companies
into industry leaders for long-term success and value creation.  
Cerberus has offices in Los Angeles, Chicago and Atlanta, well
as advisory offices in London, Baan, Frankfurt, Tokyo, Osaka and
Taipei.

                  About Affiliated Computer

Headquartered in Dallas, Affiliated Computer Services Inc.
(NYSE:ACS) -- http://www.AffiliatedComputer-inc.com/ --  
provides business process outsourcing and information technology
solutions to world-class commercial and government clients.  The
company has more than 58,000 employees supporting client
operations in nearly 100 countries.  The company has global
operations in Brazil, China, Dominican Republic, India,
Guatemala, Ireland, Philippines, Poland, and Singapore.

                        *     *     *

Affiliated Computer Services currently carries Fitch Ratings' BB
Issuer Default Rating.  The company also carries Moody's
Investors Service's long term rating of Ba2.


AFFILIATED COMPUTER: Five Directors Resign on Chairman's Call
-------------------------------------------------------------
Affiliated Computer Services Inc. chairman Darwin Deason has
sent a letter asking five independent directors to resign saying
that the Board of Directors has come under increasing
shareholder criticism for its failure to consummate a
transaction based on Cerberus Capital Management LP's offer.

Specifically, Mr. Deason seeks resignation of Robert B. Holland,
J. Livingston Kosberg, Dennis McCuistion, Joseph P. O'Neill, and
Frank A. Rossi.

"[T]hey clearly demonstrate that the Board has lost the trust
and support of the Company's shareholders.  It is in the
shareholders' best interests to provide the Company with new
strategic leadership," Mr. Deason argues.

Mr. Deason went on to say that the Board, despite its efforts,
has failed to produce any other bidders or superior strategic
alternatives.

Such failure to produce another bidder or superior strategic
alternative has called into question the significant time and
resources dedicated to the Board's repeat auction and extensive
meetings to consider strategic alternatives, Mr. Deason avers.

                    ACS Directors Respond

The independent directors accepted Mr. Deason's call, saying
that "the best way for us to discharge our fiduciary duties is
to resign in favor of a new majority of independent directors."

However, the five directors contended that from the outset, Mr.
Deason has attempted to subvert the acquisition process in order
to prevent superior alternatives to the Cerberus offer from
being consummated.

The directors also noted that they have engaged Mr. Deason and
Cerberus in an effort to modify the proposal in a way that would
make sense for all of the company's shareholders, including
increasing the offer price, which Mr. Deason refused.

Calling his move as "remarkable piece of bullying and thuggery,"
the directors argued that Mr. Deason have made it impossible for
them to continue to effectively serve as directors of ACS.

"We could fire you and the entire management team, but that
would not help our shareholders, customers or employees," the
directors avered.

                  About Affiliated Computer

Headquartered in Dallas, Affiliated Computer Services Inc.
(NYSE:ACS) -- http://www.AffiliatedComputer-inc.com/ --  
provides business process outsourcing and information technology
solutions to world-class commercial and government clients.  The
company has more than 58,000 employees supporting client
operations in nearly 100 countries.  The company has global
operations in Brazil, China, Dominican Republic, India,
Guatemala, Ireland, Philippines, Poland, and Singapore.

                        *     *     *

Affiliated Computer Services currently carries Fitch Ratings' BB
Issuer Default Rating.  The company also carries Moody's
Investors Service's long term rating of Ba2.




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


FLOWSERVE CORP: Reports US$63-Mln Net Income in Third Qtr. 2007
---------------------------------------------------------------
Flowserve Corp. earned US$63 million for the third quarter of
2007, compared to net income of US$29.2 million for the same
quarter in 2006.

The company announced that third quarter fully diluted EPS and
operating income growth were up 116% and 75% respectively,
outpacing strong sales growth of 19%.  Flowserve also posted
record third quarter bookings of US$1.1 billion, up 19%, led by
strength in chemical and water markets globally.  Additionally,
the company raised its 2007 sales target to a range between
US$3.6 and US$3.7 billion.  The company also reaffirmed 2007
operating margin improvement targets of between 200 and 300
basis points versus 2006.

"Flowserve Pump Division's gross margin results help illustrate
the power of mix shift between original equipment and
aftermarket.  This quarter we not only benefited from improved
pricing, fixed cost absorption and operational excellence
programs that have helped us all year, but we also saw an
increase in margins from a mix shift towards aftermarket sales,"
said Lewis M. Kling, Flowserve's President and CEO.

Pump Division gross profit increased to US$148 million, up US$39
million or 36%.  Gross margin for the third quarter of 2007
increased 280 basis points to 29.8%, reflecting significantly
stronger aftermarket sales as noted above and improved
absorption of fixed costs.

Operating income for the third quarter of 2007 increased to
US$69 million, up US$29 million or 74%, including currency
benefits of approximately US$4 million.  The significant
increase is attributed to the US$39 million increase in gross
profit driven by improved pricing, operational excellence
programs, fixed cost absorption and mix shift to aftermarket
sales, combined with a 120 basis point improvement in leverage
of divisional SG&A.  Operating margin improved from 9.9% to
13.9%.

                          2007 Outlook

"I'm extremely proud of the global team's results through the
first three quarters of 2007, and in particular the way our
management team came together in Q3 to generate some of the best
results in the company's history.  At the beginning of the year,
we set out some aggressive targets for the company for 2007 and
the team has answered the call and delivered terrific results
each quarter, with each division playing an integral role," said
Mr. Kling.  "We're very excited about the year-to-date results,
but even more excited about the future success of the company as
we drive continuous improvement on all of our key initiatives.  
Based on our year-to-date results, I am confident we will
achieve our earlier announced 2007 revenue and operating income
targets.  Accordingly, we are raising our sales target for 2007
to between US$3.6 and US$3.7 billion and reaffirming our
operating income target of 200 to 300 basis points of
improvement versus 2006.  Looking beyond 2007, we are confident
we are building a platform for future success," Mr. Kling said.

                       About Flowserve

Headquartered in Irving, Texas, Flowserve Corp. (NYSE: FLS) --
http://www.flowserve.com/-- provides fluid motion and control  
products and services.  Operating in 56 countries, the company
produces engineered and industrial pumps, seals and valves as
well as a range of related flow management services.  In Latin
America, Flowserve operates in 36 countries such as the
Dominican Republic, Guatemala, Guyana and Belize.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 20, 2007, Moody's Investors Service affirmed Flowserve
Corporation's corporate family rating at Ba3 and probability of
default at B1.  Moody's also affirmed the Ba2 rating to the
company's senior secured term loan and assigned a Ba2 rating to
Flowserve's senior secured revolving credit facility.




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


AIR JAMAICA: Adds Flights To Handle Traffic Increase in December
----------------------------------------------------------------
Air Jamaica told Caribbean Net News that it has added flights in
preparation for the busy holiday season ahead, to handle the
needs of increased travelers from Dec. 15, 2007 through
Jan. 8, 2008.

According to Caribbean Net, Air Jamaica has launched over 50
additional flights between New York JFK and Jamaica throughout
the holidays and peak season travel times.  It increased its
departures from JFK to Grenada to six weekly nonstop flights
from four weekly one-stop flights.

The report says that travelers to St. Lucia from JFK will
benefit from six weekly one-stop flights.  Daily flights from
JFK to Barbados, and daily flights through Montego Bay with
continuing service to Kingston, will continue.

Caribbean Net states that Air Jamaica also increased its
connecting flights to the Caribbean from:

          -- Atlanta,
          -- Baltimore,
          -- Chicago,
          -- Ft. Lauderdale,
          -- Miami, and
          -- Philadelphia.

Newark-Montego Bay flights will continue on to Kingston with no
change of plane, Caribbean Net reports.

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

                        *     *     *

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

                        *     *     *

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


AIR JAMAICA: Pact with Virgin Atlantic Worries Mike Henry
---------------------------------------------------------
Jamaican Transport Minister Mike Henry admitted to Radio Jamaica
that he hasn't changed his position on the Air Jamaica/Virgin
Atlantic deal and that he is still concerned about the accord
brokered by the previous administration.

According to Radio Jamaica, Minister Henry had met Wednesday
with Virgin Atlantic head Sir Richard Branson.  He agreed to
hold further discussions with Virgin Atlantic officials "to
reach an amicable settlement."

Minister Henry told Radio Jamaica, "We have begun some
discussions, myself and Sir Richard Branson, and we are
continuing the discussions to see how we can arrive at the way
forward for everyone overall and assuring everyone that binding
contracts are binding contracts but we always need to look at
these in light of what is important for all of Jamaica as a
whole."

Virgin Atlantic has an "antagonistic stance towards the
government's decision to review the sale of Air Jamaica's London
slot," Radio Jamaica says, citing Minister Henry.  Due to Virgin
Atlantic's actions, Air Jamaica decided to turn down its request
to transfer the summer slots until it offers usable slots in
exchange.

Other accords awaiting government approval have been put on
hold, Radio Jamaica states.

                    About Virgin Atlantic

Virgin Atlantic Airways is an airline in Sir Richard Branson's
Virgin Group conglomerate.  From its main hubs at London's
Heathrow and Gatwick airports, the airline serves about 30
destinations around the world with a fleet of some 35 aircraft.  
It extends its network via code-sharing relationships with
carriers such as Air China, Continental Airlines, and Australia-
based sister company Virgin Blue.  (Code-sharing allows airlines
to sell tickets on one another's flights.) Virgin Group owns 51%
of Virgin Atlantic, and Singapore Airlines owns a 49% stake.

                      About Air Jamaica

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

                        *     *     *

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

                        *     *     *

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


CMS ENERGY: Closes Sale of Jamaica Private Power Co. Stake
----------------------------------------------------------
CMS Energy told Radio Jamaica that it has concluded the sale of
its undisclosed interest in the Jamaica Private Power Company.

The sale resulted in the completion of an international
divestment plan "that has raked in US$1.5 billion," Radio
Jamaica says, citing CMS Energy.    

Proceeds from the sale will be used to lessen debt and invest in
Michigan utility Consumers Energy, CMS Energy told Radio
Jamaica.

The international sales program was a key component in the
"successful restructuring strategy," Radio Jamaica states,
citing CMS Energy President and Chief Executive Officer David
Joos.

Radio Jamaica didn't say to whom the interest in the Jamaican
company was sold.

Headquartered in Jackson, Michigan, CMS Energy Corp. (NYSE: CMS)
-- http://www.cmsenergy.com/-- is a company that has an  
electric and natural gas utility, Consumers Energy, as its
primary business and also owns and operates independent power
generation businesses.  The company has offices in Venezuela.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 8, 2007, Fitch placed the ratings of CMS Energy Corp. and
Consumers Energy Co., including CMS Energy Corp.'s 'BB-' Issuer
Default Rating and Consumer Energy Co.'s 'BB+' Issuer Default
Rating, on Rating Watch Positive.

The Rating Watch Positive reflects the continuing reduction of
business risk that resulted from the substantial completion of
the asset sale and restructuring program and the company's plan
to reduce parent debt by US$650 million using a portion of the
US$1.60 billion of proceeds from non-strategic asset sales that
closed in 2007.




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


BLOCKBUSTER INC: Posts US$35 Million Third Quater Net Loss
----------------------------------------------------------
Blockbuster Inc. has reported Total Revenues decreased 5.7% to
US$1.24 billion for the third quarter ended Sept. 30, 2007, from
US$1.31 billion for the third quarter of 2006.  For the third
quarter of 2007, net loss was US$35.0 million, or US$0.20 per
common share, as compared with a net loss of US$24.7 million, or
US$0.15 per common share, for the third quarter of 2006.  Net
loss for the third quarter of 2007 included US$9.6 million, or
US$0.05 per common share, in severance and lease termination
costs.
    
"We believe the actions we have taken over the last quarter have
better positioned Blockbuster for the future," said Jim Keyes,
Blockbuster Chairman and Chief Executive Officer.  "Going
forward, we are focused on protecting our core rental business,
developing new retail opportunities, and becoming the preferred
provider of digital entertainment.  To this end, we have
launched a series of initiatives centered around product
availability and increased emphasis on our retail business. I am
pleased with the progress we have made both strategically and
financially and believe we are on our way to transforming
Blockbuster into a company that is able to generate total
revenue growth, effectively redeploy resources and balance
investment in a manner that delivers favorable returns."
    
As part of its previously announced efforts to improve
profitability, management has completed a preliminary review of
the company's cost structure and has implemented a plan to
reduce annualized overhead costs by approximately US$45 million
through the elimination of staffing and operational redundancies
in the company's in-store and online corporate support structure
and through improvements in other operating efficiencies.   
Management continues to evaluate a number of other methods to
reduce costs, including outsourcing various corporate functions.
    
Additionally, consistent with its efforts to strike an
appropriate balance between the growth of its online
subscription service and enhanced profitability, during the
quarter the company implemented pricing modifications to the
Blockbuster Total Access offering, reduced advertising
spend and minimized promotion of the program in its stores.  
These actions significantly reduced the number of unprofitable
Blockbuster Total Access subscribers, improved profitability
across the remaining subscriber base and contributed to a
sequential improvement in the company's operating
results from the second quarter of 2007.
    
Further, in light of the company's emphasis on growing its
overall customer base -- through its stores, through the mail
and eventually through the digital delivery of content -- going
forward, the company will no longer be narrowly focused on its
online subscriber count but instead will concentrate on the
growth of, and report on, its total membership.
    
"During each month this quarter, over 20 million customers
around the world used the Blockbuster(R) brand to satisfy their
needs for media entertainment, and that customer base presents
us with a tremendous opportunity," said Mr. Keyes.  "Our goal is
to continue to increase our membership base by providing even
more ways for customers to get the entertainment they want
through our stores, through the mail and through new
technologies."

               Third Quarter Financial Results
    
Total revenues for the third quarter of 2007 decreased primarily
due to the closure and sale of 526 company-operated stores
worldwide.  This decrease was partially offset by a US$79.2
million year-over-year increase in revenues from Blockbuster's
online rental service resulting from growth in the subscriber
base, which totaled approximately 3.1 million total subscribers
at the end of the quarter.
   
Worldwide same-store rental revenues for the third quarter
increased 1.1% from the same period last year, reflecting a 2.3%
increase in domestic same-store rental revenues and a 2.8%
decline in international same-store rental revenues.  Worldwide
same-store retail revenues for the third quarter of 2007
increased 14.2% from the same period last year largely due to a
79.5% increase in international same-store game retail revenues.
    
Operating loss for the third quarter of 2007 totaled US$5.6
million, compared to operating income of US$3.3 million for the
same period last year.  Gross profit decreased US$75.7 million,
which was primarily driven by the decline in total revenues
discussed above and an approximately US$29 million impact to
rental gross profit associated with the cost of free in-store
exchanges under the Blockbuster Total Access program.  Gross
margin declined 270 basis points to 53.9% for the third quarter
of 2007.  The decrease in gross profit was partially offset by a
US$51.9 million decrease in general and administrative expenses
for the third quarter of 2007 largely due to a US$25.8 million
decline in compensation expense and a US$19.4 million decrease
in occupancy costs primarily resulting from (i) the lower
worldwide company-operated store-base and (ii) the sale of 217
GAMESTATION(R) stores in the U.K. Advertising expense for the
third quarter 2007 totaled US$27.5 million as compared to
US$33.0 million for the third quarter of 2006.
    
Cash flow used for operating activities of US$17.1 million for
the third quarter of 2007 reflected a US$168.9 million decrease
from cash provided by operating activities of US$151.8 million
in the third quarter of 2006.  Free cash flow decreased US$174.5
million to a negative US$38.6 million for the third quarter of
2007 from a positive US$135.9 million for the third quarter of
2006.  Both changes were primarily the result of changes in
working capital and rental library.
    
                      About Blockbuster

Headquartered in Dallas, Texas, Blockbuster Inc. (NYSE: BBI,
BBI.B) -- http://www.Blockbuster.com/-- provides in-home movie  
and game entertainment, with more than 9,000 stores throughout
the Americas, Europe, Asia and Australia.  The company maintains
operations in Brazil, Mexico, Denmark, Italy, Taiwan, Australia,
among others.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 8, 2007, Moody's Investors Service downgraded Blockbuster
Inc.'s corporate family rating to Caa1, its senior secured
credit facilities to B3, and speculative grade liquidity rating
to SGL-4.  In addition, Moody's affirmed the senior subordinated
notes rating at Caa2.  Moody's said the rating outlook remains
negative.


CHALLENGER POWERBOATS: Board OKs Reverse Split on Common Stock
--------------------------------------------------------------
Challenger Powerboats Inc.'s board of directors has declared a
reverse split of its common stock, at a one-for-twenty ratio,
effective Oct. 31, 2007.  After the reverse stock split, the
company's common stock will trade under a new symbol CPBI on the
OTC Bulletin Board.

Based in Washington, Missouri, Challenger Powerboats Inc.
(OTC:CPWB) - http://www.challengerpowerboats.com/-- designs and  
manufactures 'go fast' offshore racing boats, family sport
cruisers, jet boats and water ski tow boats under the brands
'Challenger Powerboats', 'Sugar Sand' and 'Gekko', which target
the recreational boating market.  The company is a design-to-
manufacturing organization, creating or licensing designs, and
creating tooling, molds, and parts necessary to assemble its
products in-house.  The company markets its products through a
dealer network comprising more than 100 dealers throughout the
United States, Canada, Mexico, Europe, Australia, the Middle
East and Japan.

At June 30, 2007, Challenger Powerboats' balance sheet showed
total assets of US$7.4 million and US$28.1 million in total
liabilities, resulting on a US$20.7 million total shareholders'
deficit.

                     Going Concern Doubt

Jaspers + Hall PC expressed substantial doubt about Challenger
Powerboats Inc.'s ability to continue as a going concern after
auditing the company's financial statements as of Dec. 31, 2006,
and 2005.  The auditing firm pointed to the company's recurring
losses from operations and its difficulties in generating
sufficient cash flow to meet its obligation and sustain its
operations.


COLLINS & AIKMAN: Fee Examiner Files Report
-------------------------------------------
Judy A. O'Neill, the fee examiner appointed in Collins & Aikman
Corp. and its debtor-affiliates Chapter 11 cases, filed with the
U.S. Bankruptcy Court for the Eastern District of Michigan a
report, prepared in collaboration with her business consultant,
Fred Caruso of Development Specialists, Inc., on the results of
her investigation of the fees and expenses incurred by
professionals retained in the Chapter 11 cases.

As of June 30, 2007, approximately US$123,000,000 in fees and
expenses has been incurred by the 25 professionals whose fees
ares subject to Sections 327 and 328 of the Bankruptcy Code,
Ms. O'Neill relates.

The fee examiner conducted informal interviews and examinations
of key parties and professionals, rather than formal
depositions.  Ms. O'Neill worked with the Debtors, the Official
Committee of Unsecured Creditors, and JPMorgan Chase Bank, N.A.,
the pre- and postpetition agent of lenders, to obtain entry of a
protective order, as amended, to protect parties from the
disclosure of sensitive confidential information on certain
terms.

Ms. O'Neill concludes that the substantial operational,
managerial and financial issues in the Debtors' Plastics
division and the effect of the issues on the achievability of
management's business plan goals should have been discovered
earlier.  She says that from the outset of the Debtors' Chapter
11 cases, the "key constituents, namely the Debtors' major
customers, the bank group -- subset of prepetition lenders,
which acted as a steering committee for the prepetition lenders,
together with the Prepetition Agent -- the Agent, and the
Creditors Committee were aware of the substantial operational,
managerial and financial issues in Plastics.

Due in large part to the Plastics issues, until the approval of
certain October 2005 customer agreements in December 2005, the
Debtors could not formulate a reliable business plan, Ms.
O'Neill notes.  With respect to the summer of 2006, she
concludes that based on the Debtors' performance in March, April
and May of 2006, the Debtors should have known that:

   -- the aggressive US$179,000,000 2006 EBITDA projection in
      that certain 4+8 plan was unachievable considering the
      Plastics issues in June 2006; and

   -- the projected 2006 EBITDA at that time should have more
      realistically resembled the US$105,500,000 projected in
      that certain 6+6 plan subsequently issued in August 2006.

Ms. O'Neill does not believe that the delay in the discovery of
the impact of the Plastics issues on the Debtors' business plan
resulted in material unnecessary losses or reductions in
creditor recoveries, except with respect to the Prepetition
Lenders who funded professionals' fees and likely unnecessarily
funded two months of fees as a result of the delay, and the
Customers, to the extent they made business decisions during the
delay that increased their costs upon liquidation.

If the Court concludes that the business plan should have been
more conservative when initially issued in January 2006, the
Prepetition Lenders and the Customers likely suffered losses or
reductions in recoveries, Ms. O'Neill adds.

To the question of whether the key assumptions underlying
management's business plan, the nature and substance of the
Debtors' operating challenges in their Plastics Division and
substantive developments and changes in the Debtors' views on
future operating performance were adequately and timely
disclosed to the Debtors' principal creditor constituencies, Ms.
O'Neill affirms that the Debtors did.

According to Ms. O'Neill, because the Debtors' inability to
timely achieve the business plan improvements resulted in a
failure to increase value rather than a true decrease in value,
the substantial diminution of the Debtors' estates is not
relevant to the inquiry, and therefore, the relevant initial
inquiry is whether any particular work was no longer reasonably
necessary after reorganization became unlikely.

Ms. O'Neill states that the probability of any reorganization
substantially decreased in June 2006, when the Debtors'
projected 2006 adjusted EBITDA fell substantially below
US$179,000,000, and that reorganization at the lower EBITDA
level became necessarily contingent upon additional third-party
concessions, i.e. Extraordinary Customer relief, which the fee
examiner concludes was not likely to be obtained.

Given the delay, Ms. O'Neill concludes that the decision to
liquidate could have occurred approximately two months earlier.  
Therefore, she tells the Court, the Chapter 11 cases and the
attendant fees were unnecessarily extended by approximately two
months.  Moreover, less significant work may have been
reasonably unnecessary under the circumstances.

A full copy of Ms. O'Neill's report is available for free at
http://bankrupt.com/misc/Collins_FeeExaminer'sReport.pdf

                        *     *     *

Prior to the filing of the report, the Court approve the
stipulation among the Debtors, United States Trustee, Ms.
O'Neill, the Creditors Committee, for, among other things, the
the immediate delivery of O'Neil's  complete and unredacted
draft report, including any attachments, to the U.S. Trustee.

                   About Collins & Aikman

Headquartered in Troy, Mich., Collins & Aikman Corporation --
http://www.collinsaikman.com/-- is a global leader in cockpit        
modules and automotive floor and acoustic systems and is a
leading supplier of instrument panels, automotive fabric,
plastic-based trim, and convertible top systems.  The Company
has a workforce of approximately 23,000 and a network of more
than 100 technical centers, sales offices and manufacturing
sites in 17 countries throughout the world.  The Company
operates in Latin America through its facilities in Mexico.  The
Company and its debtor-affiliates filed for chapter 11
protection on May 17, 2005 (Bankr. E.D. Mich. Case No.
05-55927).  Richard M. Cieri, Esq., at Kirkland & Ellis LLP,
represents C&A in its restructuring.  Lazard Freres & Co., LLC,
provides the Debtors with investment banking services.   Michael
S. Stammer, Esq., at Akin Gump Strauss Hauer & Feld LLP,
represents the Official Committee of Unsecured Creditors
Committee.  When the Debtors filed for protection from their
creditors, they listed US$3,196,700,000 in total assets and
US$2,856,600,000 in total debts.

On Aug. 30, 2006, the Debtors filed a Joint Chapter 11 Plan and
a Disclosure Statement explaining that plan.  On Dec. 22, 2006,
they filed an Amended Plan and on Jan. 22, 2007, filed a
modified Amended Plan.  On Jan. 25, 2007, the Court approved the
adequacy of the Disclosure Statement.  On July 18, 2007, the
Court confirmed the Debtors' Liquidation Plan which became
effective on Oct. 12, 2007.  The Debtors' cases are set to be
closed on Feb. 28, 2008.  (Collins & Aikman Bankruptcy News,
Issue No. 78; Bankruptcy Creditors' Service Inc.;
http://bankrupt.com/newsstand/or 215/945-7000)


EMPRESAS ICA: Earns MXN260 Million in Third Quarter 2007
--------------------------------------------------------
Empresas ICA told Business News Americas that its consolidated
net profits net increased 27.4% to MXN260 million in the third
quarter 2007, from the same quarter in 2006.

According to BNamericas, Empresas ICA's revenues dropped 4.1% to
MXN5.10 billion.  However, the firm lessened its costs by 8.6%
to MXN4.16 billion, increasing its operating profits by 21.3% to
MXN444 million.

BNamericas notes that Empresas ICA's construction backlog as of
September 2007 was MXN30.8 billion, equivalent to 24 months of
work based on the third quarter 2007 construction revenues.

Empresas ICA told BNamericas that some of the principal new
projects in the backlog included:

          -- the MXN2.74-billion Nuevo Necaxa-Tihuatlan
             concessioned highway,

          -- the MXN2.62-billion Rio Verde-Ciudad Valles
             concessioned highway, and

          -- the MXN1.46-billion Aqueduct II water supply
             concession in Queretaro.

Empresas ICA said in a statement that it conducted an initial
public offering in September and October, raising net proceeds
of US$520 million, of which 60% went to payment of the first
federal highway concession package for MXN3.12 billion.

"ICA's business strategy is to grow and diversify in the
infrastructure and housing sectors, which ICA believes offers
opportunity for higher growth, higher margins, and reduced
cyclicality.  The goal is to generate up to 40% of total
revenues from infrastructure and housing by 2010, as compared to
23% at present," Empresas ICA said in a press statement.

Empresas ICA -- http://www.ica.com.mx/-- the largest  
engineering, construction, and procurement company in Mexico,
was founded in 1947.  ICA has completed construction and
engineering projects in 21 countries.  ICA's principal business
units include civil construction and industrial construction.

Through its subsidiaries, ICA also develops housing, manages
airports, and operates tunnels, highways, and municipal services
under government concession contracts and/or partial sale of
long-term contract rights.

As reported in the Troubled Company Reporter-Latin America on
Sept. 20, 2007, Standard & Poor's Ratings Services affirmed its
'BB-' long-term corporate credit rating on Empresas ICA S.A.B.
de C.V.  S&P said the outlook is stable.


KANSAS CITY: Promotes Three Officers in Operations & Info Tech
--------------------------------------------------------------
Kansas City Southern and its subsidiaries have promoted:

   * Jeff M. Crandall from assistant vice president
     international engineering to vice president transportation
     for The Kansas City Southern Railway Company (KCSR);

   * Carl Harrison from assistant vice president technology and
     business solutions to vice president information technology
     and telecommunications; and

   * James Koelper from director to assistant vice president
     telecommunications.

Mr. Crandall has nearly 30 years of railroading experience. He
joined KCS in November 2006 to lead the planning and scheduling
area of the international engineering department.  Prior to
that, he spent 28 years with Union Pacific in a variety of
engineering, mechanical and transportation roles.  Mr. Crandall
holds a bachelor of science in business management from Iowa
State University.  He is based in Shreveport, La. and reports to
Scott Arvidson, KCSR executive vice president and chief
operating officer.

"With a diverse background in all areas of railroad operations,
Jeff is well-positioned to lead the U.S. transportation team
toward continued operational improvements," said Mr. Arvidson.

Mr. Harrison joined KCS in 2003 and has managed a variety of
technical areas for the company.  He has also provided
information technology consulting and held management positions
at Exxon, BNSF Railway, DST, H&R Block and Sprint PCS.  A native
of the United Kingdom, Mr. Harrison worked for IBM and KPMG
before moving to the U.S. in 1992.  Mr. Harrison holds a master
of business administration from Rockhurst University and a
bachelor of science with joint honors in mathematics and
computer science from Manchester University.  He is based in
Kansas City and reports to Mr. Arvidson.

"Carl's most recent assignment has been in Monterrey, where he
has been working to further develop the companies' near shore IT
development center in Mexico," said Mr. Arvidson.  "He will
continue that work from Kansas City, in addition to overseeing
the ongoing operations of the information technology
organization to ensure the best overall value proposition."

Mr. Koelper has 29 years of railroad telecommunications
experience, including eight years with KCSR and 17 years with
Santa Fe.  During the privatization of the Mexican railroads in
1997, he served as a consultant in the effort to modernize the
telecommunications infrastructure of TFM, which is now Kansas
City Southern de Mexico, S.A. de C.V.  Mr. Koelper holds a
bachelor of science in electrical engineering from the
University of Illinois. He is based in Kansas City and reports
to Mr. Harrison.

"Our plans include substantial investments in
telecommunications," said Mr. Arvidson. "Jim will provide
essential leadership to ensure the success of these endeavors."

Headquartered in Kansas City, Mo., KCS is a transportation
holding company that has railroad investments in the US,
Mexico and Panama.  Its primary U.S. holding includes KCSR,
serving the central and south central U.S.  Its international
holdings include Kansas City Southern de Mexico, serving
northeastern and central Mexico and the port cities of Lazaro
Cardenas, Tampico and Veracruz, and a 50% interest in
Panama Canal Railway Company, providing ocean-to-ocean freight
and passenger service along the Panama Canal.  KCS' North
American rail holdings and strategic alliances are primary
components of a NAFTA Railway system, linking the commercial and
industrial centers of the U.S., Canada and Mexico.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 17, 2007, Fitch Ratings assigned a 'B+' foreign currency
rating and a Recovery Rating of 'RR4' to the US$165 million
senior notes due 2014 to be issued by Kansas City Southern de
Mexico, S.A. de C.V.  The new notes rank pari passu with KCSM's
existing senior unsecured obligations.

Fitch also maintained 'B+' foreign currency ratings and 'RR4'
recovery ratings on KCSM's other outstanding notes:

    -- US$178 million 12.50% senior notes due 2012;
    -- US$460 million 9.375% senior notes due 2012;
    -- US$175 million 7.625% senior notes due 2013.

The proceeds of the proposed new issuance will be used primarily
to pay off the company's outstanding US$178 million 12.50% notes
due 2012.

Fitch also maintained a 'B+' foreign and local currency Issuer
Default Rating for KCSM.  Fitch said the rating outlook for
these ratings is stable.


MOVIE GALLERY: Can Walk Away from 212 Unexpired Store Leases
------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Virginia
gave authority to Movie Gallery, Inc. and its debtor-affiliates
to reject 212 unexpired store leases and subleases, and several
executory contracts related to the leases or their store
operations subject to those leases, nunc pro tunc to the date of
bankruptcy filing.

The Debtors either ceased or are in the process of ceasing
operations at a number of store locations as part of their
restructuring efforts.

According to Michael A. Condyles, Esq., at Kutak Rock LLP, in
Richmond, Virginia, the Leases and the Executory Contracts are
not a source of potential value for the Debtors' future
operations, creditors or interest holders.  Even if certain of
the Vacant Store Leases constitute below-market leases, the
Debtors' obligations to pay postpetition rent, real estate
taxes, utilities, insurance and other related charges diminishes
any potential value received from an assignment or sublease,
specifically given the relatively short term remaining in each
Lease.  The Executory Contracts provide no further benefit to
the Debtors.

The terms of the Vacant Store Leases range from one month to
nine years, excluding option periods, and generally the lease
payments for the Vacant Store Leases range from US$14,400 to
US$235,000 per year.  In considering their options with respect
to the Vacant Store Leases prior to the Petition Date, Mr.
Condyles said the Debtors evaluated the possibility of one or
more assignments or subleases of the Vacant Store Leases.  The
Debtors determined that the transactional costs and postpetition
occupancy costs associated with marketing the Vacant Store
Leases exceeds any marginal benefit received from potential
assignments or subleases.

In addition to their obligation to pay rent under the Vacant
Store Leases, the Debtors also are obligated to pay for certain
real estate taxes, utilities, insurance and other related
charges associated with the leases.  The Debtors examined the
costs associated with their obligation to pay rent under the
Vacant Store Leases and estimate that the annual net cost to
them is roughly US$15,400,000 per year.

Section 365(a) of the Bankruptcy Code provides that a debtor
"subject to the court's approval, may . . . reject any executory
contract or unexpired lease of the debtor."  Mr. Condyles noted
that the standard courts apply to determine whether the
rejection of an executory contract or unexpired lease should be
authorized is the "business judgment" standard.

Mr. Condyles pointed the Court to:

   -- In re Orion Pictures Corp., 4 F.3d 1095, 1098-99 (2d Cir.
      1993);

   -- In re Lawson, 146 B.R. 663, 664-65 (Bankr. E.D. Va. 1992)
      ("[t]he Fourth Circuit adopted the 'business judgment'
      test as the appropriate standard in determining whether to
      permit a debtor to reject an executory contract . . .
      [and a] court will defer to a debtor's determination that
      rejection of a contract would be advantageous [to the
      estate] unless that decision is clearly erroneous")
      (citation omitted), aff'd in part, rev'd in part 14 F.3d
      595 (4th Cir. 1993) (unpublished opinion);

   -- NLRB v. Bildisco & Bildisco, 465 U.S. 513, 523 (1984)
      (recognizing the "business judgment" standard used to
      approve rejection of executory contracts); and

   -- In re Klein Sleep Prods., Inc., 78 F.3d 18, 25 (2d Cir.
      1996).

The business judgment standard requires a court to approve a
debtor's business decision unless that decision is the product
of bad faith, whim or caprice, Mr. Condyles said, citing In re
Lubrizon Enters., Inc. v. Richmond Metal Finishers, Inc., 756
F.2d 1043, 1047 (4th Cir. 1985), cert. denied sub nom., Lubrizol
Enters., Inc. v. Canfield, 475 U.S. 1057 (1986).

According to Mr. Condyles, the Leases and the Executory
Contracts constitute an unnecessary drain on the Debtors'
resources.

In granting the Debtors' request, Judge Tice said each
counterparty to a Lease or Executory Contract may object to the
rejection of its Lease or Executory Contract until
Oct. 27, 2007.  The Court may vacate the Rejection Order, modify
it or make it final.  If no timely Objection is filed -- or is
filed and subsequently withdrawn -- the Rejection Order will
become final at the conclusion of the objection period without
further Court order.

At the hearing on Oct. 16, 2007, counsel to Aronov Realty
Management, Centro Properties Group, Federal Realty Investment
Trust, Developers Diversified Realty Corp., General Growth
Management, Inc. and Levin Management Corp.; and Foundation
Fulton LLC objected to the Debtors' request.

Judge Tice held that any objection will only affect the finality
of the Rejection Order with respect to a particular Lease or
Executory Contract.  The Order will be final for all other
purposes.

A schedule of the 212 Unexpired Leases is available at no charge
at http://researcharchives.com/t/s?24b3

A schedule of the Executory Contracts is available at no charge
at http://researcharchives.com/t/s?24b4

                     About Movie Gallery

Based in Dothan, Alabama, Movie Gallery Inc. --
http://www.moviegallery.com/-- is a home entertainment  
specialty retailer.  It operates over 4,600 stores in the United
States, Canada, and Mexico under the Movie Gallery, Hollywood
Entertainment, Game Crazy, and VHQ banners.

The company and its debtor-affiliates filed for Chapter 11
protection on Oct. 16, 2007 (Bankr. E.D. Va. Case Nos. 07-33849
to 07-33853.  Anup Sathy, Esq., Marc J. Carmel, Esq., and
Richard M. Cieri, Esq., at Kirkland & Ellis LLP, represent the
Debtors. Michael A. Condyles, Esq., and Peter J. Barrett, Esq.,
at Kutak Rock LLP, serve as the Debtors' local counsel.  The
Debtors' claims & balloting agent is Kutzman Carson Consultants
LLC.  The U.S. Trustee for Region 4 appointed an Official
Committee of Unsecured Creditors in the Debtors' bankruptcy
proceedings on Oct. 18, 2007.

When the Debtors' filed for protection from their creditors,
they listed total assets of US$891,993,000 and total liabilities
of US$1,419,215,000.  (Movie Gallery Bankruptcy News, Issue
No. 3; Bankruptcy Creditors' Service Inc.;
http://bankrupt.com/newsstand/or 215/945-7000)


MOVIE GALLERY: Landlords React to Auction of 508 Stores Leases
--------------------------------------------------------------
A number of managing agents for landlords of Movie Gallery, Inc.
and its debtor-affiliates' stores object to an order from the
U.S. Bankruptcy Court for the Eastern District of Virginia
authorizing the Debtors to auction off 508 store leases and
lease designation rights associated with those leases.

As reported in the Troubled Company Reporter on Oct. 26, 2007,
aside from approving the auction, the Court also approved
competitive bidding procedures for the disposition of the
Debtors' interests in the leases.

The Debtors had announced the closure of roughly 520 store
locations.  They have examined the costs associated with their
obligation to pay rent at the Phase 1 Locations, and estimate
that the annual rental cost of the Phase 1 Locations is roughly  
US$69,400,000 per year.  In their reasonable business judgment,
the Debtors determined that the costs, with the concomitant
costs of operating the locations, constitute an unnecessary
drain on their resources.

The Debtors will hold the auction Nov. 15, 2007.  The Court will
also convene a hearing Nov. 28, 2007, at 10:00 a.m. (prevailing
Eastern Time), to consider approval of any sale agreements, the
sale of designation rights, or any lease termination agreements.  
Objections, if any, are due Nov. 26, 2007.

                    Inland Entities React

The Inland Management entities ask the Court to reconsider and
vacate its order authorizing Movie Gallery, Inc., and its debtor
affiliates to auction off 508 store leases and their associated
lease designation rights, and approving competitive bidding
procedures for the disposition of the Debtors' interests in the
leases.

The six Inland entities -- Inland Southwest Management, LLC;
Inland American Retail Management, LLC; Inland US Management,
LLC; Inland Pacific Property Services, LLC; Inland Continental
Property Management, Corp.; and Inland Commercial Property
Management, Inc. -- are managing agents for landlords who are
parties to certain unexpired non-residential property leases
with the Debtors.

A schedule of the leased properties is available at no charge
at:

               http://researcharchives.com/t/s?24b2

Craig B. Young, Esq., at Connolly, Bove, Lodge & Hutz, LLP, in
Washington, D.C., argues that, among other things, the approved
bid procedures:

   (i) are deficient and unreasonable;

  (ii) are not properly granted with respect to the Petition
       Date and are improper in context; and

(iii) authorize the marketing and auction of certain leases
       that will expire before the proposed auction can be
       scheduled.

Mr. Young further relates that although 508 leases are affected
by the Debtors' request for bid procedures, only the top 30
creditors received the Debtors' notice.

The Bidding Procedures provide that "landlords will be provided
with adequate assurance of future performance information for
any proposed assignee of their leases within two days of the
conclusion of the auction."  Inland maintains that this
timetable is not acceptable, because:

   (a) it will only effect three days to evaluate assurance
       information in light of the holidays; and

   (b) it offers an insufficient time for Inland to determine
       their objections to a proposed assignee or a proposed use
       of a leased premise, and to find if an assignment of the
       Lease to a potential assignee will:

          -- violate any use provisions;

          -- violate the provisions of other tenants' leases
             located in shopping centers or any applicable
             restrictive easement assignments; and

          -- disrupt the tenant mix at the shopping center.

Mr. Young further argues that the Bid Procedures do not require
the Debtors to file with the Court a notice of proposed cure
amounts to be made available to all landlords and serve the
notices on the landlords' counsel.

Mr. Young also contends that the provision for the termination
of any Debtor-Guarantor's obligations under a lease "upon the
execution of such sale agreement or lease termination agreement
for that lease becoming effective" is inappropriate, and must be
removed from the Bid Procedures, because:

   (a) no factual basis or legal authority is presented for
       the invalidation of the lease guarantees upon the sale or
       assumption and assignment of the tenant's rights under
       the lease;

   (b) the Debtors' estates have not been substantively
       consolidated, such that debtor guarantees of this kind
       may be terminated; and

   (c) pursuant to Section 365 of the Bankruptcy Code, a
       guaranty is not an unexpired lease or executory contract
       that may be rejected.

                     More Objections

The Strip Delaware LLC and Wal-Mart Stores, Inc. and Wal-Mart
Real Estate Business Trust also ask the Court to reconsider and
vacate an earlier order authorizing the Debtors to auction off
certain leases and lease designation rights.  Strip Delaware and
Wal-Mart support the arguments raised by Inland Southwest
Management LLC, et al.

Strip Delaware leases store premises in Jackson Township, Ohio,
to Hollywood Entertainment Corporation.  On Oct. 5, 2007,
Strip Delaware obtained a temporary restraining order in the
Court of Common Pleas, in Stark County, Ohio, enjoining
Hollywood Entertainment from conducting going out of business
sales in violation of the parties' 1996 lease agreement.

Wal-Mart leases to the Debtors certain premises located in
Wal-Mart stores in Kentucky, Tennessee, Texas, Florida, West
Virginia, and California.

                       About Movie Gallery

Based in Dothan, Alabama, Movie Gallery Inc. --
http://www.moviegallery.com/-- is a home entertainment  
specialty retailer.  It operates over 4,600 stores in the United
States, Canada, and Mexico under the Movie Gallery, Hollywood
Entertainment, Game Crazy, and VHQ banners.

The company and its debtor-affiliates filed for Chapter 11
protection on Oct. 16, 2007 (Bankr. E.D. Va. Case Nos. 07-33849
to 07-33853.  Anup Sathy, Esq., Marc J. Carmel, Esq., and
Richard M. Cieri, Esq., at Kirkland & Ellis LLP, represent the
Debtors.  Michael A. Condyles, Esq., and Peter J. Barrett, Esq.,
at Kutak Rock LLP, serve as the Debtors' local counsel.  The
Debtors' claims & balloting agent is Kutzman Carson Consultants
LLC.  The U.S. Trustee for Region 4 appointed an Official
Committee of Unsecured Creditors in the Debtors' bankruptcy
proceedings on Oct. 18, 2007.

When the Debtors' filed for protection from their creditors,
they listed total assets of US$891,993,000 and total liabilities
of US$1,419,215,000.  (Movie Gallery Bankruptcy News, Issue
No. 3; Bankruptcy Creditors' Service Inc.;
http://bankrupt.com/newsstand/or 215/945-7000)


ODYSSEY RE: Third Quarter Net Income Rises to US$114.2 Million
--------------------------------------------------------------
Odyssey Re Holdings Corp. recorded net income of US$114.2
million for the three months ended Sept. 30, 2007, compared to
net income of US$60 million for the same period in 2006.

The Company recognized an after-tax loss of US$13.8 million, or
US$0.19 per diluted share, during the third quarter of 2007 in
connection with its previously disclosed settlement of
litigation.  The third quarter 2007 net income available to
common shareholders includes after-tax net realized capital
gains of US$56.9 million compared to after-tax net realized
capital gains of US$1.3 million for the third quarter of 2006,
which included realized capital gains of an equity investee that
were included in net investment income for that quarter.

The combined ratio for the third quarter of 2007 was 97.8%,
compared to 95.8% for the third quarter of 2006.  Included in
the underwriting results for the quarter ended Sept. 30, 2007 is
a pre-tax loss of US$21.2 million, or 3.9 combined ratio points,
related to the settlement of litigation, which resulted in the
commutation of the reinsurance treaties at issue.

Net investment income totalled US$86.5 million for the third
quarter of 2007, compared to US$82.6 million for the third
quarter of 2006.  Net pre-tax realized capital gains were
US$87.6 million for the third quarter of 2007, compared to
US$2.0 million for the third quarter of 2006. For the three
months ended Sept. 30, 2007, net cash flow from operations was
US$41.9 million, compared to US$281.7 million for the three
months ended Sept. 30, 2006.

At September 30, 2007, total investments and cash were US$7.8
billion, an increase of US$712.4 million, or 10.1%, compared to
Dec. 31, 2006.  Net unrealized gains, after tax, at
Sept. 30, 2007 and Dec. 31, 2006 were US$37.0 million and
US$23.4 million, respectively.  In the third quarter of 2007,
OdysseyRe paid a cash dividend of US$0.0625 per common share on
Sept. 28, 2007 to common shareholders of record as of
Sept. 14, 2007.

Odyssey Re Holdings Corp. (NYSE: ORH) is an underwriter of
property and casualty treaty and facultative reinsurance, as
well as specialty insurance.  Odyssey Re operates through its
subsidiaries, Odyssey America Reinsurance Corp., Hudson
Insurance Co., Hudson Specialty Insurance Co.  Clearwater
Insurance Co., Newline Underwriting Management Limited and
Newline Insurance Co. Ltd.  The Company underwrites through
offices in the United States, London, Paris, Singapore, Toronto
and Mexico City.  Odyssey Re Holdings Corp. is listed on the New
York Stock Exchange under the symbol ORH.

                        *     *     *

As reported in the Troubled Company Reporter on Nov. 15, 2006,
Standard & Poor's affirmed its 'BBB-' counterparty credit and
'BB' preferred stock ratings on Odyssey Re Holdings Corp. and
removed them from CreditWatch negative.


RADIOSHACK CORP: Earns US$46.3 Mil. in Third Qtr. Ended Sept. 30
----------------------------------------------------------------
RadioShack Corporation reported net income of US$46.3 million
for the third quarter of 2007.  In the third quarter of 2006 the
company reported a net loss of US$16.3 million.

Third quarter 2007 comparable store sales declined by 8.6%,
while total sales declined 9.4%.  The main drivers of the sales
decline were the continuing negative sales trend in the Sprint
post-paid wireless and related wireless accessory businesses
partially offset by strong performance in both prepaid wireless
phones and global positioning systems.  Despite these sales
declines, the company reported an increase in gross profit
dollars and a reduction in both SG&A rate and dollars.  The
company also reported a significant increase in cash balances.

"We are pleased to announce the continuation of improved
financial results in the third quarter," said Julian C. Day,
Chairman and Chief Executive Officer.  "We continue to face
challenges at the top line in our business, mainly as a result
of well publicized developments in post-paid wireless related to
Sprint.  We are addressing those challenges energetically and
hope that having configured the business for increased
profitability, we will now prove successful in configuring it
for growth."

During the quarter ended Sept. 30, 2007 the company repurchased
US$162 million of its shares, which essentially completed the
existing authorized share repurchase program.  These
repurchases, coupled with the repurchases during the first half
of 2007, brought the total repurchases for the year to US$209
million or 8.7 million shares.

Cash balances increased to US$417 million at the end of the
third quarter of 2007, an increase of US$141 million over third
quarter of 2006.  The 2007 improved cash balance was reduced by
the pay down of US$150 million of 10 year bonds during the third
quarter and the US$209 million of share repurchases noted above.  
The US$500 million (net of these items) of cash generation
during the past year was mainly driven by the growth in net
income and the continued improvements in inventory management.  
RadioShack's net inventory position (inventory minus accounts
payable) improved US$190 million from this time last year.

The gross margin rate for the third quarter increased 490 basis
points over last year, from 46.1% to 51.0%.  This increase was a
result of improved inventory management and a more profitable
product mix.

SG&A expenses declined by US$57.4 million or 13% for the third
quarter of 2007.  This decrease reflects a continuing effort to
improve our return on expense dollars, most notably in payroll
and professional fees.

"As a result of adverse developments in the economy, we
anticipate that the trading environment in the fourth quarter
will be challenging in terms of both absolute demand as well as
the competitive landscape.  Despite this, we currently expect to
produce an improvement in net income this fourth quarter when
compared to the fourth quarter of 2006," said Jim Gooch, Chief
Financial Officer.

                 About RadioShack Corporation

RadioShack Corporation (NYSE: RSH) -- http://radioshack.com/  
-- retails consumer electronics specialty products through amost
6,000 company-operated stores and dealer outlets in the United
States, over 100 RadioShack locations in Mexico and nearly 800
wireless phone kiosks.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 25, 2007, Fitch Ratings has downgraded these ratings for
RadioShack Corporation:

   -- Issuer Default Rating (IDR) to 'BB' from 'BB+';
   -- Bank credit facility to 'BB' from 'BB+';
   -- Senior unsecured notes to 'BB' from 'BB+'.

Fitch affirmed the short-term IDR at 'B'.


REMY WORLDWIDE: Taps Greenberg Traurig as Special Counsel
---------------------------------------------------------
Remy Worldwide Holdings Inc. and its debtor-affiliates ask
authority from the U.S. Bankruptcy Court for the District of
Delaware to employ Greenbert Traurig, LLP, as their special
corporate advisory and litigation counsel nunc pro tunc
Oct. 8, 2007.

Kerry A. Shiba, senior vice president and chief financial
officer of Remy Worldwide Holdings, Inc., relates that the
Debtors currently do not employ an experienced attorney who
serves in the role of "general counsel."  That void, he notes,
is filled by Greenberg Traurig, who, since 2006, has serviced
the Debtors in connection with corporate advisory and litigation
matters.  As a result, Greenberg Traurig, has become familiar
with the Debtors' business affairs.

The Debtors, thus, believe that Greenberg Traurig's continued
representation of them is essential to a successful Chapter 11
reorganization and will provide a substantial benefit to their
bankrupt estates.

Specifically, the Debtors have asked Greenberg Traurig to
continue to render services in connection with:

   -- advising and counseling them in connection with corporate
      advisory matters, including, but not limited to,
      corporate, securities, financing, transactional,
      intellectual property, environmental, and insurance
      matters unrelated to the administration of the Chapter 11
      cases;

   -- handling all aspects of non-bankruptcy litigation, as
      requested by the Debtors, including any pending
      prepetition litigation that would proceed in various
      forums postpetition; and

   -- any other corporate advisory or litigation services as
      requested by the Debtors.

To note, the Debtors have chosen Shearman & Sterling LLP and
Young Conaway Stargatt & Taylor LLP to provide them general
bankruptcy services.  Shearman & Sterling will chiefly be
responsible for providing general bankruptcy and reorganization
advice to the Debtors and Young Conaway will serve as the
Debtors' local Delaware counsel, while Greenberg will generally
focus on corporate advisory and litigation matters, Mr. Shiba
relates.  The Debtors assure the Court that they will undertake
efforts to minimize duplication of the professionals' work.  

The Debtors will pay for Greenberg Traurig's services on an
hourly basis in accordance with the firm's customary rates:

            Attorneys             US$235 to US$750
            Paraprofessionals     US$65 to US$230

The Debtors will also reimburse Greenberg Traurig for all the  
necessary cost and expenses the firm incurs in connection with
the contemplated services.  

Quinn P. Williams, Esq., a Greenberg Traurig professional,
assures the Court that his firm does not hold or represent any
interests adverse to the Debtors or their estates, in matters
upon which it is to be engaged.

Greenberg Traurig relates that it will conduct an ongoing review
to ensure that it continues neither to hold nor represent any
interests adverse to the Debtors or their estates.  If the firm
becomes aware of material information or relationships that it
determines require further disclosure, it will promptly disclose
that information to the Court on notice to the parties-in-
interest and the U.S. Trustee.

                    About Remy Worldwide

Based in Anderson, Indiana, Remy Worldwide Holdings Inc. acts as
a holding company of all the outstanding capital stock of Remy
International Inc.  Remy International --http://www.remyinc.com/
-- manufactures, remanufactures and distributes Delco Remy brand
heavy-duty systems and Remy brand starters and alternators,
locomotive products and hybrid power technology.  The company
also provides a worldwide component core-exchange service for
automobiles, light trucks, medium and heavy-duty trucks and
other heavy-duty, off-road and industrial applications.  Remy
has operations in the United Kingdom, Mexico and Korea, among
others.

The company and its debtor-affiliates filed for Chapter 11
protection on Oct. 8, 2007 (Bankr. D. Del. Cases No. 07-11481 to
07-11509).  Douglas P. Bartner, Esq., Fredric Sosnick, Esq., and
Michael H. Torkin, Esq., at Shearman & Sterling LLP, represent
the Debtors' in their restructuring efforts.  Pauline K. Morgan,
Esq., Edmon L. Morton, Esq., and Kenneth J. Enos, Esq., at Young
Conaway Stargatt & Taylor, LLP, serve as co-counsels to the
Debtors.  The Debtors' claims agent is Kurtzman Carson
Consultants LLC and their restructuring advisor is AlixPartners,
LLC.

At Sept. 30, 2006, Remy Worldwide's balance sheet showed total
assets of US$919,736,000 and total liabilities of
US$1,265,648,000.  (Remy Bankruptcy News; Issue No. 5,
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


REMY WORLDWIDE: Wants to Hire Ernst & Young as Accountant
---------------------------------------------------------
Remy Worldwide Holdings Inc. and its debtor-affiliates ask
permission from the U.S. Bankruptcy Court for the District of
Delaware to employ Ernst & Young LLP as their accountant,
auditor and tax services provider, nunc pro tunc Oct. 8, 2007.

Remy Worldwide Holdings, Inc. Senior Vice President and Chief
Financial Officer Kerry A. Shiba relates that the Debtors
require the services of a seasoned accountant, auditor and tax
services provider that is familiar with their businesses and the
Chapter 11 process.  In the course of performing services for
the Debtors over the past years, Ernst & Young has developed a
reserve of institutional knowledge related to the Debtors'
business, finances, operations, systems, and capital structure,
Mr. Shiba points out.

Thus, Mr. Shiba relates, the services of Ernst & Young are
necessary for the Debtors to maximize the value of their estates
and to reorganize successfully.  

As the Debtors' accountant, Ernst & Young will:

   -- audit and report on the Debtors' consolidated financial
      statements for the year ended December 31, 2007;

   -- review the Debtors' unaudited interim condensed
      consolidated financial statements; and

   -- periodically perform research and consultations for the
      Debtors regarding financial accounting and auditing
      matters and participate in all scheduled meetings of the
      Debtors' Audit Committee, as requested.

Ernst & Young will also perform various tax services on a
project by project basis as authorized by the Debtors.  The
projects may include assistance with tax issues, transactional
issues, or the Debtors' dealings with tax authorities.  Specific
tasks that may be required of Ernst & Young in connection with
the Tax Services include:

   -- participation in meetings and telephone calls with the
      Debtors;

   -- participation in meetings and telephone calls with taxing
      authorities and other third parties; and

   -- review of transactional documentation, research of
      technical issues, and the preparation of technical
      memoranda, letters, e-mails, and other written
      documentation.

The Debtors will pay for Ernst & Young's services on an hourly
basis:

     Professionals                  Hourly Rate
     -------------                  -----------
     Partners and Principals      US$530 to US$800
     Senior Managers              US$435 to US$540
     Managers                     US$275 to US$340
     Seniors                      US$195 to US$270
     Staff                        US$105 to US$170

The Debtors will also reimburse the firm for any direct and
reasonable out-of-pocket expenses it incurs in connection its
retention with the Debtors.

Mr. Shiba notes that as of Oct. 8, 2007, the Debtors don't owe
Ernst & Young any outstanding balance with respect to services
the firm provided prior to the Petition Date.  The Debtors tell
the Court that during the 90 days immediately preceding the
Petition Date, they paid to Ernst & Young fees totaling
US$490,713.

Ernst & Young has advised the Debtors that it will coordinate
with the other retained professionals in the Debtors' bankruptcy
cases to eliminate unnecessary duplication or overlap of work.

Thomas R. Ertel, a partner of Ernst & Young, assures the Court
that his firm is a "disinterested person" as the term is defined
in Section 101(14) of the Bankruptcy Code.  The firm do not have
an interest materially adverse to the Debtors' estates,
according to Mr. Ertel.  

None of the services Ernst & Young rendered to other entities
are related to the firm's contemplated services with the Debtors
and their Chapter 11 cases, Mr. Ertel adds.

                    About Remy Worldwide

Based in Anderson, Indiana, Remy Worldwide Holdings Inc. acts as
a holding company of all the outstanding capital stock of Remy
International Inc.  Remy International --http://www.remyinc.com/
-- manufactures, remanufactures and distributes Delco Remy brand
heavy-duty systems and Remy brand starters and alternators,
locomotive products and hybrid power technology.  The company
also provides a worldwide component core-exchange service for
automobiles, light trucks, medium and heavy-duty trucks and
other heavy-duty, off-road and industrial applications.  Remy
has operations in the United Kingdom, Mexico and Korea, among
others.

The company and its debtor-affiliates filed for Chapter 11
protection on Oct. 8, 2007 (Bankr. D. Del. Cases No. 07-11481 to
07-11509).  Douglas P. Bartner, Esq., Fredric Sosnick, Esq., and
Michael H. Torkin, Esq., at Shearman & Sterling LLP, represent
the Debtors' in their restructuring efforts.  Pauline K. Morgan,
Esq., Edmon L. Morton, Esq., and Kenneth J. Enos, Esq., at Young
Conaway Stargatt & Taylor, LLP, serve as co-counsels to the
Debtors.  The Debtors' claims agent is Kurtzman Carson
Consultants LLC and their restructuring advisor is AlixPartners,
LLC.

At Sept. 30, 2006, Remy Worldwide's balance sheet showed total
assets of US$919,736,000 and total liabilities of
US$1,265,648,000.  (Remy Bankruptcy News; Issue No. 5,
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


VISTEON CORP: Sept. 30 Balance Sheet Upside-Down by US$162 Mil.
---------------------------------------------------------------
Visteon Corporation disclosed Wednesday third quarter 2007
results.  

The company's consolidated balance sheet at Sept. 30, 2007,
showed US$7.119 billion in total assets, US$6.993 billion in
total liabilities, and US$288 million in minority interests in
consolidated subsidiaries, resulting in a US$162 million total
shareholders' deficit.

Third quarter 2007 net loss of US$109 million was reduced by
US$68 million compared to the third quarter 2006 net loss of
US$177 million.  Third quarter 2007 results include US$14
million of non-cash asset impairments.  EBIT-R of negative US$33
million was an improvement of US$94 million over the negative
US$127 million EBIT-R reported in the third quarter 2006.  These
improvements were primarily driven by favorable cost performance
resulting from the company's ongoing restructuring and cost-
reduction efforts.

EBIT-R represents net loss before net interest expense,
provision for income taxes and extraordinary item and excludes
impairment of long-lived assets and net unreimbursed
restructuring charges.

For the third quarter 2007, total sales were US$2.55 billion,
including favorable foreign currency of approximately
US$100 million.  Sales from continuing operations for the third
quarter 2006 were US$2.58 billion.  Product sales to Ford Motor
Co. declined 15%, or US$163 million, to US$893 million,
primarily reflecting divestitures, sourcing actions and product
mix.  Product sales to other customers increased 9%, or US$126
million, to US$1.52 billion and represented 63% of total product
sales.

"Our third quarter results show the fundamental improvement we
have achieved across our business," said Michael F. Johnston,
chairman and chief executive officer.  "We are making progress
in every aspect of our improvement plan by implementing our
restructuring actions as planned and continuing to improve and
grow our operations to position Visteon for long-term success."

                       Restructuring

Visteon has completed 17 of the 30 previously identified
restructuring activities under its three-year improvement plan
and has disclosed three additional actions.  During the third
quarter 2007, Visteon completed the sale of its non-core
powertrain operation located in Chennai, India for cash proceeds
of US$30 million.  Visteon made progress implementing the
previously disclosed closures of its Connersville and Bedford,
Ind., facilities.  During the third quarter of 2007, the company
reached an agreement with the local labor union at Bedford to
cease operations by mid-2008.  The company remains on track to
cease production at Connersville in December of this year.  

On Oct. 18, 2007, Visteon disclosed that it had entered into a
non-binding memorandum of understanding for the sale its non-
core chassis facility located in Swansea, Wales, United Kingdom.  
The completion of the transaction is subject to customary
agreements and approvals and is expected to close by the end of
2007.

Upon the completion of the Bedford, Connersville and Swansea
actions, 20 of the 30 facilities actions included in the
company's restructuring plan will have been addressed.

"Our continued success in winning new business from customers
around the world speaks to the strength of Visteon's product
capability and global engineering and manufacturing footprints,"
said Donald J. Stebbins, president and chief operating officer.

                    Nine Month 2007 Results

For the first nine months of 2007, sales from continuing
operations were US$8.41 billion including favorable foreign
currency of approximately US$400 million.  Sales from continuing
operations for the same period in 2006 were US$8.45 billion.  
During 2007, product sales to Ford declined 14%, or US$525
million, to US$3.15 billion, reflecting lower North American
production volumes, divestitures, sourcing actions and product
mix.  Sales to other customers increased 11%, or US$494 million,
to US$4.85 billion and represented 61% of total product sales.

Visteon reported a net loss of US$329 million for the first nine
months of 2007 compared with a net loss of US$124 million for
the same period a year ago.  2007 results include US$77 million
of non-cash asset impairments compared with US$22 million in the
same period a year ago.  EBIT-R of negative US$64 million for
the first nine months of 2007 was lower by US$128 million when
compared to positive US$64 million in the same period of 2006.  
Lower 2007 EBIT-R primarily reflects the non-recurrence of 2006
benefits attributable to the settlement of various post-
retirement benefit obligations and customer commercial
negotiations, 2007 costs associated with the company's
restructuring activities and lower customer volumes and product
mix, principally in North America. These factors were partially
offset by cost performance and benefits from restructuring
actions.

                  Cash Flow and Liquidity

Cash used by operating activities totaled US$53 million for the
third quarter 2007 compared with US$34 million a year ago.  The
increase in cash used by operating activities is primarily a
result of an approximately US$70 million reduction in receivable
sales under the company's European securitization facility.  
Free cash flow was negative US$141 million for third quarter
2007 compared with negative US$116 million for the same period
in 2006.  Visteon used US$38 million of cash from operations for
the first nine months of 2007 compared with US$42 million of
cash provided by operations for the first nine months of 2006.  
For the first nine months of 2007, free cash flow was a use of
US$270 million, compared with a use of US$223 million for the
same period a year ago.

As of Sept. 30, 2007, Visteon had cash balances totaling
US$1.4 billion and total debt of US$2.7 billion.  Additionally,
no amounts were drawn on the company's US$350 million asset-
based U.S. revolving credit facility, and the company had
availability under its US$325 million European receivables
securitization facility of about US$140 million.

                   About Visteon Corporation
    
Based in Van Buren Township, Michigan, Visteon Corp. (NYSE: VC)
-- http://www.visteon.com/-- is a global automotive supplier  
that designs, engineers and manufactures innovative climate,
interior, electronic, and lighting products for vehicle
manufacturers, and also provides a range of products and
services to aftermarket customers.  The company has more than
170 facilities in 24 countries and employs around 50,000 people.

With corporate offices in the Michigan (U.S.); Shanghai, China;
and Kerpen, Germany; the company has more than 170 facilities in
24 countries, including Mexico and India, and employs
approximately 50,000 people.

                        *     *     *

Fitch Ratings affirmed its CCC issuer default rating and B
senior secured bank facility rating on Visteon Corp. on April
2007.  At the same time, Fitch downgraded its CCC- senior
unsecured rating to CC.


WENDY'S INT'L: Banks Propose "Highly Conditional" Financing
-----------------------------------------------------------
Sale of Wendy's International Inc. could be affected by a
financing package its lenders -- J.P. Morgan Chase & Co. and
Lehman Brothers Holdings Inc. -- recently disclosed, Janet Adamy
of The Wall Street Journal reports, citing a person familiar
with the matter.

According to WSJ's source, the package, which is anchored by a
securitization of the royalty fees franchisees pay Wendy's,
allows the lenders to back out should financing conditions
worsen.

Calling the financing as "highly conditional," WSJ's source
believes such term could lower bids or make bidders think twice
about proceeding.

The Troubled Company Reporter earlier said that among the
entities interested in buying the company is Cedar Enterprises
Inc., a Columbus, Ohio-based franchisee, which owns 134 Wendy's
restaurants.

A group formed by Fidelity National Financial Inc., Thomas H.
Lee Partners LP, Oaktree Capital Management LP, and Ares
Management LLC also joined to bid for the company, which group,
WSJ says, is expected to rely on the banks' financing package.

Further in the list is Mr. Nelson Peltz, the chairman of Triarc
Companies Inc., who said Triarc's offer could range from
US$37.00 to US$41.00 per share, and which could increase further
depending on due diligence results.

Wendy's decided to sell the business in June 2007 to "minimize
disruption to the company and its operations."  

                About Wendy's International

Headquartered in Dublin, Ohio, Wendy's International Inc. (NYSE:
WEN) -- http://www.wendysintl.com/-- and its subsidiaries  
operate, develop, and franchise a system of quick service and
fast casual restaurants in the United States, Canada, Mexico,
Argentina, among others.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 21, 2007, Moody's Investors Service lowered all ratings of
Wendy's International, Inc. and placed all ratings on review for
further possible downgrade.  Affected ratings include the
company's Ba2 corporate family rating which was lowered to Ba3
and its (P)B1 preferred stock shelf rating which was lowered to
(P)B2.

Additionally, Standard & Poor's Ratings Services lowered its
corporate credit and senior unsecured debt ratings on Wendy's
International Inc. to 'BB-' from 'BB+'.  All ratings remain on
CreditWatch with negative implications, where they were placed
on April 26, 2007.


WILLIAMS SCOTSMAN: Moody's Withdraws B1 Corporate Family Rating
---------------------------------------------------------------
Moody's Investors Service withdrew all ratings on Williams
Scotsman, Inc. upon the announcement of the completion of the
merger of a subsidiary of Ristretto Group S.a.r.l. with and into
Williams Scotsman International Inc.  As a part of the
transaction, the company has fully redeemed the US$450 million
8.5% Senior Notes due 2015.  In addition, the company's US$650
million senior secured bank credit facility will be paid-off and
terminated.  As noted in the Moody's press release dated
July 19, 2007, a potential outcome of the review was a
withdrawal of all ratings if all of the rated debt at the
company was redeemed as a result of the merger.

These ratings were withdrawn:

Williams Scotsman Inc.

   -- Corporate Family (previously rated B1)
   -- Senior Secured Credit Facility (previously rated B1)
   -- Senior Unsecured Notes (previously rated B2)

Headquartered in Baltimore, Maryland, Williams Scotsman
International, Inc. (NASDAQ:WLSC) the parent company of Williams
Scotsman, Inc., provides mobile and modular space solutions for
the construction, education, commercial, healthcare and
government markets.  The company serves over 25,000 customers,
operating a fleet of over 100,000 modular space and storage
units that are leased through a network of 86 locations
throughout North America.  Williams Scotsman provides delivery,
installation, and other services, and sells new and used mobile
office products.  Williams Scotsman also manages large modular
building projects from concept to completion.  Williams Scotsman
has operations in the United States, Canada, Mexico, and Spain.




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


SPECTRUM BRANDS: Closes Sale of Canadian Division Business
----------------------------------------------------------
Spectrum Brands has completed the sale of the Canadian division
of its Home & Garden business segment, which operates under the
name Nu-Gro.  Net proceeds from the sale will be utilized to
reduce Spectrum Brands' outstanding debt balance.  The company
currently estimates that its FY 2008 peak seasonal borrowing
needs will be reduced by approximately US$45 million as a result
of cash proceeds from the transaction and the elimination of the
working capital requirement for the Canadian Home & Garden
business in the 2008 lawn and garden selling season.  In
addition, the company reiterated its commitment to further
reducing outstanding indebtedness and leverage through the sale
of assets.

Headquartered in Atlanta, Georgia, Spectrum Brands (NYSE: SPC)
-- http://www.spectrumbrands.com/-- is a consumer products  
company and a supplier of batteries and portable lighting, lawn
and garden care products, specialty pet supplies, shaving and
grooming and personal care products, and household insecticides.
Spectrum Brands' products are sold by the world's top 25
retailers and are available in more than one million stores in
120 countries around the world.  The company has manufacturing
and distribution facilities in China, Australia and New Zealand,
and sales offices in Melbourne, Shanghai, and Singapore.

The company operates in 13 Latin American nations including El
Salvador, Guatemala, Costa Rica, Colombia and Nicaragua.

                        *     *     *

As reported on the Troubled Company Reporter-Latin America on
Oct. 3, 2007, Fitch Ratings has assigned a 'B/RR1' rating to
Spectrum Brand's new four-year, US$225 million senior secured
asset-backed loan facility priced at LIBOR +225 basis points.
The new facility will replace the US$200 million LIBOR Term Loan
B II that is encompassed within the US$1.6 billion six-year
Credit Agreement.

Fitch has also affirmed these ratings:

  -- Issuer Default Rating at 'CCC';

  -- US$1 billion term loan B at 'B/RR1';
  -- EUR350 million term loan at 'B/RR1';

  -- US$700 million 7.4% senior subordinated notes at 'CCC-
     /RR5';

  -- US$2.9 million 8.5% senior subordinated notes at 'CCC-
     /RR5';

  -- US$347 million 11.25% variable rate toggle senior
    subordinated notes at 'CCC-/RR5'.

Fitch said the rating outlook is negative.




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


CHIQUITA BRANDS: Shutting Down Fresh Express Greencastle Plant
--------------------------------------------------------------
Chiquita Brands International will be closing subsidiary Fresh
Express' Greencastle plant by March 2008, Lauren McLane at The
Record Herald reports.

According to The Record, about 40 employees would be laid off at
the Greencastle distribution center.

The closure would be in the next couple of months, wrapping up
by the end of March 2008, The Record says, citing Fresh Express
media relations spokesperson Michael Mitchell.

Mr. Mitchell told The Record, "We acquired a farm in Harrisburg,
so we were able to look at the entire supply chain and decided
to close the distribution center in Greencastle."

The work currently done in Greencastle will chiefly be done in
Harrisburg.  Greencastle employees will be given chance to apply
for jobs in Harrisburg, or they will be offered a severance
package, The Record notes, citing Mr. Mitchell.

Chiquita Brands said in a press statement that shutting down the
facility in Greencastle, as well as one in Carrollton, will
lessen operating costs while further improving the freshness of
products it supplies to clients.

Greencastle-Antrim Chamber of Commerce director Bill Gour
commented to The Record, "Hopefully, the impact locally will be
short-lived.  Fortunately, there are a number of employers in
the area looking for employees, and Fresh Express's parent
company will be working with current employees to find places
for some within the organization.  Fresh Express has had a
visible presence in the community.  It is a long-time member in
good standing of the chamber.  It is going to be missed by the
community and by the chamber."

Franklin County Area Development Corp. head L. Michael Ross told
The Record, "It's always disappointing news when we hear a
company is looking to downsize in Franklin County.  Fresh
Express was a victim of corporate restructuring.  Like they say
in gangster movies, 'It's nothing personal, it's just
business.'"

FCADC had failed to "establish the type of working relationship
with Fresh Express that it has with other businesses in the
county," The Record says, citing Mr. Ross.  However, he said
that the resources of FCADC will still be available for Fresh
Express and its employees.

"Our services will be available to Chiquita, including our rapid
response team," Mr. Ross commented to The Record.  The response
team helps coordinate with the state Department of Labor and
Industry to make arrangements for laid off workers.  The FCADC
will offer to help find another tenant for the facility.

"Obviously, it's designed to be a food processing plant, but
there is enough flexibility in the design that it could be
retro-fitted for other purposes.  Its location is perfect and
the utilities are there, which is huge," Mr. Ross told The
Record.

Chiquita Brands may not sell or lease the building right away,
The Record states, citing Mr. Ross.  The company has more
resources compared to most firms.

                    About Fresh Express

Fresh Express is the No. 1 brand of value-added salads, with a
total U.S. market share of approximately 47 percent.  Through
this acquisition of Verdelli Farms' modern manufacturing
capabilities and efficient distribution capacity, Fresh Express
will be able to expand its share in the Northeast from
approximately 30% today and gain an effective platform for
growth in this important region.  In addition, the acquisition
will allow Fresh Express to gain networkwide cost synergies in
distribution and logistics costs while achieving up to a two-day
improvement in the freshness of salads it delivers to customers
and consumers in the Northeast.

Harrisburg, Pa.-based Verdelli Farms is a third-generation,
family-owned business founded in 1924.  The company employs
approximately 400 people and has annual revenues of
approximately US$80 million.  In 2006, the company produced more
than 8 million cases of fresh salads, vegetables and fruit
snacks for more than 80 customers in 10 states from
Massachusetts to Virginia.

Fresh Express, a wholly owned subsidiary of Chiquita Brands
International, Inc., is the world's largest producer of fresh
salads.  With a rich history that traces its roots back to 1926
and the beginnings of the fresh produce industry in Salinas,
Calif., where the company is headquartered, Fresh Express is
recognized as a leader in food safety and as the creator of the
ready-to-eat fresh salad category.  Fresh Express is responsible
for a number of other important "firsts" in the fresh salad
category, including the first complete salad kit and the first
salad blend with multiple varieties of lettuces and greens.

                       About Chiquita

Cincinnati, Ohio-based Chiquita Brands International, Inc.
(NYSE: CQB) -- http://www.chiquita.com/-- markets and  
distributes fresh food products including bananas and nutritious
blends of green salads.  The company markets its products under
the Chiquita(R) and Fresh Express(R) premium brands and other
related trademarks.  Chiquita employs approximately 25,000
people operating in more than 70 countries worldwide including
Belgium, Columbia, Germany, Panama, Philippines, among others.

                        *     *     *

As reported in the Troubled Company Reporter on May 16, 2007,
Moody's Investors Service Ratings affirmed these ratings on
Chiquita Brands International Inc.: (i) corporate family rating
at B3; (ii) probability of default rating at B3; (iii) US$250
million 7.5% senior unsecured notes due 2014 at Caa2 (LGD5,
89%); and (iv)  US$225 million 8.875% senior unsecured notes due
2015 at Caa2 (LGD5, 89%).  Moody's changed the rating outlook
for Chiquita Brands to negative from stable.

Troubled Company Reporter reported on May 4, 2007, that Standard
& Poor's Ratings Services placed its 'B' corporate credit and
other ratings on Cincinnati, Ohio-based Chiquita Brands
International Inc. on CreditWatch with negative implications,
meaning that the ratings could be lowered or affirmed following
the completion of their review.  Total debt outstanding at the
company was about US$1.3 billion as of March 31, 2007.




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P E R U
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COMVERSE TECH: Hires Lance Miyamoto as Exec. VP for Global HR
-------------------------------------------------------------
Comverse Technology Inc. has appointed Lance Miyamoto as its
Executive Vice President, Global Human Resources.  Mr. Miyamoto
will report to the company's President and Chief Executive
Officer, Andre Dahan.  In his new role, Mr. Miyamoto also will
be responsible for the human resources function at Comverse,
Inc.

Mr. Dahan said, "Lance is an experienced, proven senior
executive, who has successfully led the human resources efforts
at large global enterprises.  He will be a valuable member of
our management team as we pursue our strategic objectives and
build a new Framework for Profitable Growth.  We welcome Lance
to the Comverse team."

Mr. Miyamoto has more than 25 years of experience in human
resources, having worked for high technology companies in North
America, Europe, Asia and Latin America.  He was recently
Executive Vice President, Human Resources at AOL, where he was
responsible for all aspects of HR for the company, including
talent acquisition and retention, compensation strategy,
organizational development, and leadership development.  Prior
to that, Mr. Miyamoto led the HR efforts for LexisNexis Group.  
He also served as Vice President, Corporate Human Resources at
Honeywell International, Senior Vice President, Human Resources
and Performance Development at Dun & Bradstreet, and in a number
of senior HR positions at AT&T Bell Laboratories, among other
firms.  Mr. Miyamoto has an MBA from the Wharton School of the
University of Pennsylvania.  He earned his undergraduate degree
from Harvard University, where he was a recipient of the Ames
Memorial Award for leadership.

                 About Comverse Technology

Comverse Technology, Inc., -- http://www.cmvt.com/-- (Pink  
Sheets: CMVT.PK) through its Comverse, Inc. subsidiary, provides
software and systems enabling network-based multimedia enhanced
communication and billing services.  The company's Total
Communication portfolio includes value-added messaging,
personalized data and content-based services, and real-time
converged billing solutions.  Over 500 communication and content
service providers in more than 130 countries use Comverse
products to generate revenues, strengthen customer loyalty and
improve operational efficiency.  Other Comverse Technology
subsidiaries include: Verint Systems (VRNT.PK), which provides
analytic software-based solutions for communications
interception, networked video security and business
intelligence; and Ulticom (ULCM.PK), which provides service
enabling signaling software for wireline, wireless and Internet
communications.

In Latin America, Comverse has operations in Argentina, Brazil,
Mexico and Peru.

                        *     *     *

As reported in the Troubled Company Reporter on Feb. 5, 2007,
Standard & Poor's Ratings Services kept its 'BB-' corporate
credit and senior unsecured debt ratings on New York-based
Comverse Technology Inc. on CreditWatch with negative
implications, where they were placed on March 15, 2006.


IRON MOUNTAIN: To Acquire Stratify for US$158 Million in Cash
-------------------------------------------------------------
Iron Mountain Incorporated has signed a definitive agreement to
acquire Stratify Inc. for approximately US$158 million in cash.

With this acquisition, Iron Mountain augments its eDiscovery
services, providing businesses with a complete, end-to-end
Discovery Services solution that manages paper and digital
information for discovery and data investigations, compliance
and associated records management, and litigation matters.
    
"With increased litigation and regulatory investigations,
businesses are facing significant pains associated with the
growing cost and complexity of discovery across tremendous
volumes of discoverable information," said John Clancy,
president of Iron Mountain Digital, the technology arm of Iron
Mountain.  "In order to help meet our customers' needs in this
area, we began an exhaustive search for the leading provider of
electronic discovery and investigation services.  We formed a
partnership with Stratify that has since evolved into a natural
extension of the Iron Mountain Digital portfolio."
    
"Stratify provides the most intuitive, advanced and efficient
electronic discovery and data investigation services on the
market today," Mr. Clancy continued.  "By combining Stratify's
advanced electronic discovery and investigation capabilities
with Iron Mountain's data protection and records management
solutions, we're providing our customers with the ability to
meet their discovery requirements better, faster and more cost-
effectively."
    
As the risks and volume of litigation and regulatory
investigations continue to grow, so do the complexities
associated with managing the exponential growth of information.
In acquiring Stratify, Iron Mountain expands its core data
protection and management capabilities by integrating Stratify's
service offerings that address discovery issues for both paper
and digital records.  

The acquisition enables Iron Mountain to help businesses
minimize the risks of eDiscovery by simplifying the electronic
discovery process to facilitate a secure chain of custody,
increasing the accuracy and consistency of review, and enabling
attorneys to identify and protect privileged documents during
review.
    
"The electronic discovery process puts a tremendous strain on
organizations, particularly for legal, compliance and IT
departments, due to the huge volumes of information that must be
searched and the demanding deadlines of the legal system," Brian
Babineau, senior analyst of Enterprise Strategy Group, noted.  
"This acquisition is a logical step for Iron Mountain, a service
provider already known for cost-efficient information
storage and management solutions."

"Our research shows that nearly 40% of North American corporate
counsels expect electronic discovery spending to remain flat
next year," Mr. Babineau continued.  "The only way this is
feasible is for organizations to work with partners like Iron
Mountain that provide a single point of control that increases
the speed at which data is retrieved, restored, organized,
indexed and ready for review."
    
As a division of Iron Mountain Digital, Stratify will provide
its electronic discovery services and software to AmLaw 200,
Fortune 500 and other firms for investigative, regulatory and
litigation matters, augmented by Iron Mountain's scale and
distribution.  

In addition, Iron Mountain customers will now be able to
maximize their investment in Iron Mountain Digital's storage and
data protection solutions by leveraging the capabilities of
Stratify's solution integrated as a value-added service.
    
The Stratify Legal Discovery service provides attorneys a single
review application for scanned paper and native electronic
documents, securely managing documents through the entire
discovery lifecycle.

Stratify's complete feature support for European and complex,
multi-byte languages such as Chinese, Japanese and Korean
removes all barriers to in-depth eDiscovery for corporations
active in the expanding economy.
    
"Joining the Iron Mountain Digital family represents the next
evolutionary development for Stratify's electronic discovery and
information management solutions and business," Ramana Venkata,
CEO and founder of Stratify, said.  

"Integrating our advanced electronic discovery and data
investigation capabilities with the industry leading data
protection and records management provider is critically
important to cater to the critical needs of customers who face
increasing regulatory and legal discovery obligations and
rapidly rising costs," Mr. Venkata added.

"With Stratify, Iron Mountain is now the only company that can
collect, protect and store an organization's information,
consolidate matter- specific information from external parties,
and deliver high-productivity results through people, process
and unique underlying technology to handle investigations and
discovery requirements quickly and cost-effectively," stated Mr.
Venkata.
    
The acquisition is subject to regulatory review and customary
closing conditions and is expected to close by the end of the
year.

                     About Stratify Inc.
    
Headquartered in Mountain View, California, Stratify Inc.
-- http://www.stratify.com/-- is one of the electronic  
discovery solution providers and serves many of the AmLaw 200
and Fortune 500 corporations.  Founded in September 1999,
Stratify is a privately held company that has received funding
from Mobius Venture Capital and In-Q-Tel, the strategic
investment firm of the U.S. Intelligence Community.
   
                    About Iron Mountain
    
Based in Boston, Massachusetts, Iron Mountain Incorporated
(NYSE:IRM) - http://www.ironmountain.com/-- is an international  
provider of information storage and protection related services.  
The company offers comprehensive records management and data
protection solutions, along with the expertise to address
complex information challenges such as rising storage costs,
litigation, regulatory compliance and disaster recovery.  
Founded in 1951, Iron Mountain has more than 90,000 corporate
clients throughout North America, Europe, Latin America, and
Asia Pacific.  Revenue for the twelve months ended Dec. 31,
2006, was approximately US$2.4 billion. Its Latin American
operations are located in Argentina, Brazil, Chile, Mexico and
Peru.

                        *     *     *

Moody's Investor Service placed Iron Mountain Inc.'s probability
of default rating at 'B2' in September 2006.  The rating still
holds to date with a stable outlook.




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


CHRYSLER LLC: U.S. October 2007 Sales Down by 9 Percent
-------------------------------------------------------
Chrysler LLC has reported United States sales for October 2007
of 145,316 units; down 9 percent compared to October 2006 with
159,586 units sold.  All sales figures are reported as
unadjusted.
    
"Growing concerns about the housing slump are showing up in
consumers' expectations about future economic conditions as auto
sales for the month of October continue below trend levels,"
said Darryl Jackson, Vice President - U.S. Sales.  "Today's
company announcement on product changes reflects our customer-
driven philosophy and current market conditions."
    
Chrysler brand car sales were led by Sebring Sedan, which posted
sales of 5,015 units, up 86 percent versus 2006 and Sebring
Convertible which finished the month with sales of 1,856 units,
up 837 percent versus October 2006.  Chrysler Town & Country
sales rose 26 percent to 12,177 units versus October 2006 with
9,668 units.
    
Jeep(R) brand sales were down 21 percent year-over-year, driven
by planned fleet reductions.  Jeep Wrangler and Wrangler
Unlimited posted sales of 9,354 units, up 8 percent versus
October 2006.
    
Dodge brand car sales increased 18 percent over last year aided
by steady sales of the Dodge Avenger with 6,268 units delivered.
    
"Given the competitive market, our approach is to provide
substantial value to our consumers by offering consumer cash and
lease cash on the majority of our 2008 models in November," said
Michael Keegan, Vice President - Volume Planning and Sales
Operations.  "We will also introduce 0% APR for 36 months on
2008 models through the end of the month."

                     About Chrysler LLC

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

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

                        *     *     *

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

As reported in the Troubled Company Reporter on Aug. 8, 2007,
Standard & Poor's Ratings Services revised its loan and recovery
ratings on Chrysler LLC (B/Negative/--), including a 'BB-'
rating to the US$5 billion "first-out" first-lien term loan
tranche.  This rating, two notches above the corporate credit
rating of 'B' on Chrysler LLC, and the '1' recovery rating
indicate S&P's expectation for very high recovery in the event
of payment default.  S&P also assigned a 'B' rating to the US$5
billion "second-out" first-lien term loan tranche.  This rating,
the same as the corporate credit rating, and the '3' recovery
rating indicate S&P's expectation for a meaningful recovery in
the event of payment default.

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


CITGO PETROLEUM: Gasoline Sales Declining, Says Distributor
-----------------------------------------------------------
Don Bowers, who heads gasoline operations for Superior Petroleum
of Ross, told Rick Stouffer at the Pittsburgh Tribune, that
motorists seem to be purchasing less gasoline from the Citgo
Petroleum Corporation.

According to The Tribune, Mr. Bowers said that he is
distributing "a couple hundred thousand gallons less" to Citgo
Petroleum gas stations and convenience stores.

Venezuelan President Hugo Chavez's anti-George W. Bush antics
may be hurting the oil-rich South American nation at the
gasoline pump, The Tribune says, citing Mr. Bowers.  Petroleos
de Venezuela SA depends on Citgo Petroleum to distribute
gasoline in the U.S.  Citgo Petroleum supplies gasoline to over
60 stations and convenience stores in Western Pennsylvania.

Mr. Bowers commented to The Tribune, "I don't know why people
now are beginning to not buy.  It didn't bother them before,
when Chavez was banging his shoe on the podium."

Meanwhile, oil industry experts told The Tribune that there was
no "nationwide shunning" of Citgo Petroleum gasoline.

Energy economist and WTRG Economics president Jim Williams
commented to The Tribune, "Maybe (Bowers') sales are just down,
he's probably seeing weaker demand due to a weaker economy."

"Nationwide, gasoline sales have been tepid, essentially
unchanged from one year ago," The Tribune notes, citing Mr.
Williams.  According to data from the US Energy Information
Administration, gasoline sales for the first seven months of
2007 were below the same month in 2006.

"There are two explanations for a very unusual situation.  The
first is high gasoline prices and the second is the economy, and
I'm betting on the economy," Mr. Williams told The Tribune.

"I'm hoping there's no impact on our business.  People aren't
dealing with Venezuela, they're dealing with local people," Mark
Tyke who with brothers Tony and Bob own Tyke's Citgo Petroleum
unit in Monroeville, commented to The Tribune.

Headquartered in Houston, Texas, Citgo Petroleum Corp. --
http://www.citgo.com/-- is owned by PDV America, an indirect,  
wholly owned subsidiary of Petroleos de Venezuela SA, the state-
owned oil company of Venezuela.

Petroleos de Venezuela 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.

                        *     *     *

Standard and Poor's Ratings Services assigned a 'BB' rating on
Citgo Petroleum Corp. in Feb. 14, 2006.

Citgo Petroleum carries Fitch's BB- Issuer Default Rating.  
Fitch also rates the company's US$1.15 billion senior secured
revolving credit facility maturing in 2010 at 'BB+', its US$700
million secured term-loan B maturing in 2012 at 'BB+', and its
senior secured notes at 'BB+'.


PEABODY ENERGY: UBS Maintains Buy Rating on Firm's Shares
---------------------------------------------------------
UBS analysts have kept their "buy" rating on Peabody Energy's
shares, Newratings.com reports.

Newratings.com relates that the target price for Peabody
Energy's shares was decreased to US$57 from US$60.

The analysts said in a research note that Peabody Energy
completed its spin-off of Patriot Coal.

The analysts told Newratings.com that the "prospects for the
coal sector" are still bright.

The earnings per share estimates for 2007 and 2008 were
decreased to US$1.80 from US$1.85 and to US$2.73 from US$3.69,
respectively, Newratings.com states.

Headquartered in St. Louis, Missouri, Peabody Energy Corporation
(NYSE: BTU) -- http://www.peabodyenergy.com/-- is the world's  
largest private-sector coal company, with 2005 sales of 240
million tons of coal and US$4.6 billion in revenues.  Its coal
products fuel 10% of all U.S. and 3% of worldwide electricity.
The company has coal operations in Australia and Venezuela.

                        *     *     *

As reported in the Troubled Company Reporter on March 9, 2007,
Moody's Investors Service reported that, after the adoption of
final guidelines for preferred stock and hybrid securities
notching, it downgraded Peabody Energy Corporation's hybrid
instrument to Ba3.  Moody's placed the instrument on review for
downgrade.


PETROLEOS DE VENEZUELA: Inks Oil Exploration with Sonatrach
-----------------------------------------------------------
Echoroukonline.com reports that Venezuelan state-run Petroleos
de Venezuela SA has signed an accord with its Algerian
counterpart Sonatrach to explore and produce crude oil in the
two nations.

According to Echoroukonline.com, the Venezuelan government
entered into seven bilateral accords with Algeria to strengthen
cooperation in fields that include:

          -- energy,
          -- trade,
          -- technology,
          -- agriculture,
          -- politics,
          -- industry,
          -- education, and
          -- culture.

Echoroukonline.com relates that the bilateral agreement also
provides for special training courses for 420 Venezuelan
technicians in Algeria.

Venezuela also signed an agreement with Algeria to promote
regular consultations and exchanges of information in certifying
products, Echoroukonline.com states.

                      About Sonatrach

Sonatrach seeks to stay on track as one of the world's top
energy players.  Arguably the largest company in all of Africa,
state-owned Sonatrach oversees Algeria's oil and gas
exploration, production, and marketing activities.  In addition
to its exploration, refining, and pipeline operations, the
company also invests in electrical power and in desalination
projects.  Sonatrach may soon lose its power as a monopoly.
Legislation passed by Algeria's parliament in 2005 allows more
foreign players in Algeria's energy sector.  Sonatrach also has
exploration and production activities in other countries,
including Libya, Mali, Niger, and Peru.

                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.


* BOND PRICING: For the Week Oct. 29 to Nov. 2
----------------------------------------------

Issuer                 Coupon   Maturity   Currency   Price
------                 ------   --------   --------   -----

ARGENTINA
---------
Argnt-Bocon PR11        2.000    12/3/10     ARS      65.06
Argnt-Bocon PR13        2.000    3/15/24     ARS      71.18
Arg Boden               2.000    9/30/08     ARS      27.99
Argent-Par              0.630   12/31/38     ARS      44.26

CAYMAN ISLANDS
--------------
Vontobel Cayman         7.450   02/22/08     CHF      69.10
Vontobel Cayman         8.300   11/15/07     EUR      74.70
Vontobel Cayman        10.250   12/28/07     CHF      70.50
Vontobel Cayman        10.400   12/28/07     CHF      45.80
Vontobel Cayman        10.800   12/03/07     EUR      62.75
Vontobel Cayman        10.700   12/28/07     CHF      56.00
Vontobel Cayman        11.400   12/28/07     CHF      62.55
Vontobel Cayman        11.400   12/28/07     CHF      73.30
Vontobel Cayman        11.450   12/28/07     CHF      69.50
Vontobel Cayman        11.650   12/28/07     CHF      73.90
Vontobel Cayman        11.850   12/28/07     CHF      48.60
Vontobel Cayman        13.050   12/28/07     CHF      58.35
Vontobel Cayman        13.350   12/28/07     CHF      54.60
Vontobel Cayman        13.450   12/28/07     CHF      67.55
Vontobel Cayman        13.500   02/22/08     CHF      59.60
Vontobel Cayman        14.900   12/28/07     CHF      19.10
Vontobel Cayman        15.900   12/28/07     CHF      55.20
Vontobel Cayman        16.000   12/28/07     EUR      56.35
Vontobel Cayman        16.450   12/28/07     EUR      64.15
Vontobel Cayman        16.800   12/28/07     CHF       4.85
Vontobel Cayman        22.850   12/28/07     CHF       9.55

COLOMBIA
--------
Colombia Rep of         9.850   06/28/27     COP       9.64

JAMAICA
-------
Jamaica Govt. LRS       7.500   10/06/12     JMD      73.17

PUERTO RICO
-----------
Puerto Rico Cons.       6.300   11/01/33     USD      74.00

VENEZUELA
---------
Petroleos de Ven        5.375    4/12/27     US       65.35
Petroleos de Ven        5.500    4/12/37     US       63.30


                        ***********


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

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subscription or balance thereof are US$25 each.  For
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               * * * End of Transmission * * *