TCRLA_Public/090909.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

            Wednesday, September 9, 2009, Vol. 10, No. 178

                            Headlines

A R G E N T I N A

AACHEN SACI: Proofs of Claim Verification Due on November 4
AFOREY SA: Proofs of Claim Verification Due on October 15
AR ARGENTINA: Proofs of Claim Verification Due on November 9
ARQUI + SRL: Proofs of Claim Verification Due on October 9
CARGO WAY: Proofs of Claim Verification Due on October 30

COOPERATIVA DE VIVIENDA: Creditors' Proofs of Debt Due on Oct. 13
KAYSERE SRL: Proofs of Claim Verification Due on October 20
SAVARIA SA: Creditors' Proofs of Debt Due on October 19
TRANSPORTADORA DE GAS: Discloses US$347 Million Debt Swap


B A R B A D O S

CABLE & WIRELESS: BWU Should Check Fair Trading Commission First


B E R M U D A

BFL (BERMUDA): Creditors' Proofs of Debt Due on September 16
BFL (BERMUDA): Members to Receive Wind-Up Report on October 8
CENTRAL EUROPEAN: S&P Affirms Corporate Credit Rating at 'B'
SUMMIT FINANCE: Creditors' Proofs of Debt Due on September 16
SUMMIT FINANCE: Members to Receive Wind-Up Report on October 8

VALIDUS HOLDINGS: Names New Reinsurance Business Head


B R A Z I L

CAIXA ECONOMICA: Funcef to Boost Equity Holdings to 40%
JBS SA: In Talks of Buying Out Pilgrim's Pride From Bankruptcy
TAM SA: Signs Partnership Deal With Ipiranga &  Walmart
* BRAZIL: Gets US$60 Million Payment From Suriname


C A Y M A N  I S L A N D S

BLACK RIVER: Members to Hear Wind-Up Report Today
BLUE EAGLE: Members to Hear Wind-Up Report Today
CAIRN CAPITAL: Shareholder Receives Wind-Up Report
CAIRN CAPITAL: Shareholder Receives Wind-Up Report
CONCERTO LIMITED: Members to Hear Wind-Up Report Today

SEARCH PACIFIC: Shareholder Receives Wind-Up Report
SIXTINA 2: Members to Hear Wind-Up Report Today
SIXTINA 2: Members to Hear Wind-Up Report Today
SIXTINA 5: Members to Hear Wind-Up Report Today
SIXTINA 5: Members to Hear Wind-Up Report Today

SIXTINA 6: Members to Hear Wind-Up Report Today
SIXTINA 7: Members to Hear Wind-Up Report Today
SIXTINA 7: Members to Hear Wind-Up Report Today
SIXTINA 8: Members to Hear Wind-Up Report Today
SIXTINA 9: Members to Hear Wind-Up Report Today

SIXTINA 14: Members to Hear Wind-Up Report Today
SIXTINA 10: Members to Hear Wind-Up Report Today


C O L O M B I A

BANCOLOMBIA SA: To Name New Member of Board of Directors Soon
ECOPETROL: Pacific Rubiales Reports Drilling Update at Quifa Block
ISAGEN SA: Renews Contract to Deliver Electricity to Venezuela
* COLOMBIA: To Sell COP2 Trillion of Bonds for Budget Gap


D O M I N I C A N  R E P U B L I C

* DOMINICAN REPUBLIC: To Conclude Stand-by Arrangement With IMF


J A M A I C A

CASH PLUS: More Properties Up for Sale
GRAND BAHIA: Plans to Make 172 Jobs Redundant Amid Low Occupancy
SAGICOR FINANCIAL: To Delist Shares at Jamaica Stock Exchange


M E X I C O

CEMEX SAB: Commences Global Public Offering


S U R I N A M E

* SURINAME: Pays Off US$60 Million Debt to Brazil


U R U G U A Y

URUGUAY: S&P Affirms BB- For., Local Cur. Sovereign Credit Ratings


V E N E Z U E L A

CITGO PETROLEUM: Negotiating With PDVSA on New Crude Supply Deals
GLOBOVISION: Has 8 Days to Respond to "Violence" Claims
PETROLEOS DE VENEZUELA: Citgo Negotiating on New Supply Deals
* VENEZUELA: Isagen Renews Electricity Delivery Contract


                         - - - - -


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


AACHEN SACI: Proofs of Claim Verification Due on November 4
-----------------------------------------------------------
The court-appointed trustee for Aachen S.A.C.I.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
November 4, 2009.

The trustee will present the validated claims in court as
individual reports on December 17, 2009.  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
the company and its creditors.

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

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
March 3, 2010.


AFOREY SA: Proofs of Claim Verification Due on October 15
---------------------------------------------------------
The court-appointed trustee for Aforey S.A.'s reorganization
proceedings, will be verifying creditors' proofs of claim until
October 15, 2009.

The trustee will present the validated claims in court as
individual reports on November 26, 2009.  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
the company and its creditors.

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

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
February 11, 2010.

Creditors will vote to ratify the completed settlement plan
during the assembly on July 8, 2010.


AR ARGENTINA: Proofs of Claim Verification Due on November 9
------------------------------------------------------------
The court-appointed trustee for Ar Argentina S.A.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
November 9, 2009.


ARQUI + SRL: Proofs of Claim Verification Due on October 9
----------------------------------------------------------
The court-appointed trustee for Arqui + S.R.L.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
October 9, 2009.

The trustee will present the validated claims in court as
individual reports on November 20, 2009.  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
the company and its creditors.

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

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
February 8, 2010.


CARGO WAY: Proofs of Claim Verification Due on October 30
---------------------------------------------------------
The court-appointed trustee for Cargo Way S.R.L.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
October 30, 2009.

The trustee will present the validated claims in court as
individual reports on December 15, 2009.  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
the company and its creditors.

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

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
March 4, 2010.


COOPERATIVA DE VIVIENDA: Creditors' Proofs of Debt Due on Oct. 13
-----------------------------------------------------------------
The court-appointed trustee for Cooperativa de Vivienda Credito y
Consumo Surikata Limitada's bankruptcy proceedings, will be
verifying creditors' proofs of claim until October 13, 2009.

The trustee will present the validated claims in court as
individual reports on November 24, 2009.  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
the company and its creditors.

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

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
February 5, 2010.


KAYSERE SRL: Proofs of Claim Verification Due on October 20
-----------------------------------------------------------
The court-appointed trustee for Kaysere S.R.L.'s reorganization
proceedings, will be verifying creditors' proofs of claim until
October 20, 2009.

The trustee will present the validated claims in court as
individual reports on December 1, 2009.  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
the company and its creditors.

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

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
February 16, 2010.

Creditors will vote to ratify the completed settlement plan
during the assembly on July 8, 2010.


SAVARIA SA: Creditors' Proofs of Debt Due on October 19
-------------------------------------------------------
The court-appointed trustee for Savaria S.A.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
October 19, 2009.

The trustee will present the validated claims in court as
individual reports on December 9, 2009.  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
the company and its creditors.

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

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
February 24, 2010.


TRANSPORTADORA DE GAS: Discloses US$347 Million Debt Swap
---------------------------------------------------------
Drew Benson at Bloomberg News reports that Transportadora de Gas
del Norte SA is offering investors a larger cash payout and
shorter duration bonds in a second attempt to restructure US$347
million in debt following a default.  The report relates the
company said that the new offer replaces the one announced on
April 23.

According to the report, as with the earlier offer, the
restructuring involves swap and cash payout options.  The report
relates that the company is now offering new par bonds that will
mature in 2016 as well as a cash payout of 40 cents on the dollar
for up to US$40 million from the previous par bonds due in 2021
and a payout of 25 cents on the dollar for up to US$30 million.

Bloomberg News notes that the company said it will accept offers
until Oct. 7. The company extended the previous offer at least
once.  The report recalls that TGN said Dec. 23 it will miss year-
end debt payments estimated at US$22.1 million by Fitch Ratings as
Argentina's peso weakens and fuel exports drop.

                             About TGN

Headquartered in Buenos Aires, Transportadora de Gas del Norte
SA -- http://www.tgn.com.ar/-- is one of the two largest
transporters of natural gas in Argentina, delivering approximately
40% of the country's total gas consumption and more than 50% of
Argentine total gas exports.  The northern Argentine gas pipeline
system connects major gas fields in northern and central-western
Argentina.  The company benefits from an exclusive 35-year
concession contract, ending Dec. 28, 2027, which may be extended
for an additional 10 years.  The parent company is Gasinvest S.A.,
which has a 56.35% stake and comprises five companies:
Totalfinaelf (27.2%), Transcogas Inversora S.A. (22.3%), Compania
General de Combustibles (5%), Organizacion Techint (27.2%), and
Petroliam Nasional Berhad (18.3%).  In addition, CMS Gas Argentina
holds 23.5% of Transportadora Norte's shares, while the remaining
20% is traded on the Buenos Aires stock exchange.

                           *     *     *

As of June 8, 2009, the company continues to carry Fitch Ratings'
D long-term local and foreign currency Issuer Default Ratings.  It
also continues to carry Fitch Ratings' National Long term and
National Sr Unsecured rating at D


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


CABLE & WIRELESS: BWU Should Check Fair Trading Commission First
----------------------------------------------------------------
Barbados' Ambassador to Caricom, Denis Kellman, said that the
Barbados Workers Union has no business in the dispute dealing with
LIME Barbados (formerly Cable & Wireless Barbados), a unit of
Cable & Wireless plc, CbC.bb News reports.  The report relates Mr.
Kellman said that BWU should take up its issue with the Fair
Trading Commission.

According to the report, Mr. Kellman said that LIME went to the
FTC recently to have its rates increased and those increases would
have included provisions for salaries.  The report relates that
BWU should first deal with the FTC and then LIME.

As reported in the Troubled Company Reporter-Latin America on
August 19, 2009, CbC.bb News said that Lime Barbados will be
having another round of discussions with the Barbados Workers
Union team led by General Secretary Sir Roy in the office of the
Minister of Labor.  The report related that the meeting,
under the chairmanship of Senator Arni Walters, is an attempt to
broker an arrangement that could avoid further lay offs at the
telecoms company.  According to the report, LIME said some 140
workers are to be laid off as the company seeks to right-size its
operations.  The workers representative, however, is seeking an
alternative to th dismissals against the background of a BB$90
million declared last year, the report said.

Cable & Wireless Barbados, established in April 2002, is an
amalgamation of four Cable & Wireless companies operating in
Barbados.  In 2008 it was rebranded as Lime (Landline, Internet,
Mobile, Entertainment).  It provides voice, data and IP services
to business and residential customers, including products from
basic telephone service and internet access, to managed data
network solutions, ISDN and cellular services via an enhanced
network.

                      About Cable & Wireless

Headquartered in London, England, Cable & Wireless plc --
http://www.cw.com/-- is an international telecommunications
company.  The Company offers mobile, broadband and domestic and
international fixed line services to homes, small and medium-sized
enterprises, corporate customers and governments.  It operates in
39 countries through four major operations in the Caribbean,
Panama, Macau and Monaco & Islands.  It operates through two
businesses: International and Europe, Asia & US.  Its
International business operates full service telecommunications
companies through four major operations in the Caribbean, Panama,
Macau and Monaco and Islands.  Its Europe, Asia & US provides
enterprise and carrier solutions to the largest users of telecom
services across the United Kingdom, continental Europe, Asia and
the United States.  Its subsidiaries include Cable & Wireless UK,
Cable & Wireless Jamaica Ltd, Cable & Wireless Panama, SA, Cable &
Wireless (Barbados) Ltd and Monaco Telecom SAM.

                          *     *     *

According to Bloomberg data, Cable & Wireless plc continues to
carry Moody's "Ba3"long-term corporate family rating, "B1"senior
unsecured debt rating and "Ba3"probability of default rating with
a stable outlook.

The company continues to Standard & Poor's "BB-"long-term foreign
and local issuer credit ratings and "B" short-term foreign and
local issuer credit ratings.


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


BFL (BERMUDA): Creditors' Proofs of Debt Due on September 16
------------------------------------------------------------
The creditors of BFL (Bermuda) Ltd. are required to file their
proofs of debt by September 16, 2009, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on August 28, 2009.

The company's liquidator is:

          Robin J. Mayor
          Clarendon House, Church Street
          Hamilton, Bermuda


BFL (BERMUDA): Members to Receive Wind-Up Report on October 8
-------------------------------------------------------------
The members of BFL (Bermuda) Ltd. will receive on October 8, 2009,
at 9:30 a.m., the liquidator's report on the company's wind-up
proceedings and property disposal.

The company commenced wind-up proceedings on August 28, 2009.

The company's liquidator is:

          Robin J. Mayor
          Clarendon House, Church Street
          Hamilton, Bermuda


CENTRAL EUROPEAN: S&P Affirms Corporate Credit Rating at 'B'
------------------------------------------------------------
Standard and Poor's Ratings Services said that it affirmed its 'B'
long-term corporate credit rating on Bermuda-based emerging
markets TV broadcaster Central European Media Enterprises Ltd.
The outlook is negative.

S&P also affirmed at 'B' the debt ratings on CME's $475 million
senior convertible notes due 2013, EUR245 million notes due 2012,
and EUR150 million notes due 2014.  In addition, S&P assigned a
'B' issue rating to the EUR150 million bond issue due 2016
announced by CME, in line with the corporate credit rating.

The affirmation follows CME's launch of a EUR150 million fixed-
rate bond issue due in 2016, which the group states will mainly
contribute to the refinancing of its EUR127.5 million European
Bank for Reconstruction and development loans.  S&P understands
that the final terms for the bond are due to be set in the coming
days.

"In S&P's view, the new debt issue should further support CME's
liquidity, following the recently announced disposal of 49% of the
group's Ukrainian assets, which the group expects to finalize by
the end of the third quarter of 2009, subject to regulatory
approval," said Standard & Poor's credit analyst Manuela Gabetta.

However, the accelerating decline in CME's advertising revenues
since the beginning of 2009, the magnitude of the EBITDA shortfall
experienced in the same period, and S&P's expectation of a
deterioration in the group's leverage and cash flow generation
capacity remain negative credit factors, in S&P's view.  On
June 30, 2009, CME's reported gross consolidated debt was
$1.3 billion.

CME's debt leverage has increased heavily of late, with Standard &
Poor's fully adjusted gross debt to EBITDA reaching 8.3x on
June 30, 2009, compared with 3.7x on Dec. 31, 2008.  This increase
is due to the combination of additional drawings on credit
facilities, pressures on profitability, and the depreciation of
local currency earnings against the U.S. dollar and euro.  CME
reports in dollars and the bulk of its debt is dollar- and euro-
denominated, giving rise to a mismatch in the currency mix of its
earnings.  The group only hedges interest, not principal, on its
debt.

For full-year 2009, S&P anticipates a decline in CME's advertising
revenues of a magnitude similar to that experienced in the second
quarter (39% year on year).  As a consequence, S&P estimates that
the group's adjusted leverage could reach double-digit multiples
by year-end 2009.  Moreover, S&P is mindful that the evolution of
the group's credit measures and its highly leveraged capital
structure remain heavily dependant on currency swings.

"The negative outlook reflects S&P's view that further year-on-
year revenue and EBITDA declines in the second half of 2009, and
possibly in 2010, will likely cause further rapid and significant
increases in CME's leverage ratios, and could cause further cash
burn at its start-up operations," said Ms.  Gabetta.

Although S&P assesses positively the active steps taken by CME to
fund the cash burn it envisages at its start–up operations in
Bulgaria and Ukraine, and to partly refinance the group's short-
term maturities, S&P sees the need for some additional comfort on
the evolution of CME's liquidity profile for the next 12 months in
the context of the current tough operating environment.

The rating could come under additional pressure if S&P's
assessment of CME's liquidity position were to materially
deteriorate from its current level in the next few quarters, as a
result of higher-than-anticipated cash burn or an aggressive
financial policy.

Given the likely pressure on CME's revenues in 2009 and S&P's view
of negative year-on-year EBITDA developments in the coming
quarters, S&P sees limited potential for a positive rating action
over the next 12 months.


SUMMIT FINANCE: Creditors' Proofs of Debt Due on September 16
-------------------------------------------------------------
The creditors of Summit Finance Ltd. are required to file their
proofs of debt by September 16, 2009, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on August 28, 2009.

The company's liquidator is:

          Robin J. Mayor
          Clarendon House, Church Street
          Hamilton, Bermuda


SUMMIT FINANCE: Members to Receive Wind-Up Report on October 8
--------------------------------------------------------------
The members of Summit Finance Ltd. will receive on October 8,
2009, at 9:30 a.m., the liquidator's report on the company's wind-
up proceedings and property disposal.

The company commenced wind-up proceedings on August 28, 2009.

The company's liquidator is:

          Robin J. Mayor
          Clarendon House, Church Street
          Hamilton, Bermuda


VALIDUS HOLDINGS: Names New Reinsurance Business Head
-----------------------------------------------------
Validus Holdings, Ltd. has appointed Charles F.A. as Head of its
North American Property Catastrophe Reinsurance Underwriting of
Validus' wholly-owned subsidiary Validus Reinsurance, Ltd.,
effective immediately.

Conan Ward, Chief Executive Officer of Validus Reinsurance, Ltd.,
said, "We are excited by the addition of Charles to the Validus
team.  With over fourteen years of international underwriting
experience, Charles will be an important asset to the Company as
we build on our track record of superior underwriting performance.
I look forward to working with Charles to serve our clients and
capitalize on opportunities for growth."

Prior to his appointment at Validus Re, Mr. Cooper served as
Senior Vice President, Vice President and Underwriter of XL Re
Ltd., where he was responsible for co-managing and underwriting
the U.S. and international property business.  Prior to joining XL
Re in October 2005, Mr. Cooper held the positions of Vice
President, Assistant Vice President and Casualty Treaty
Underwriter at XL Reinsurance America, Inc.  Mr. Cooper, who is a
Bermudian citizen, received an MBA degree from Columbia University
and BA degree from the University of Colorado.

                   About Validus Holdings, Ltd.

Validus Holdings Ltd. -- http://www.validusre.bm/-- is a
provider of reinsurance and insurance, conducting its operations
worldwide through two wholly-owned subsidiaries, Validus
Reinsurance, Ltd., and Talbot Holdings Ltd.  Validus Re is a
Bermuda based reinsurer focused on short-tail lines of
reinsurance.  Talbot is the Bermuda parent of the specialty
insurance group primarily operating within the Lloyd's insurance
market through Syndicate 1183.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 16, 2009, A.M. Best Co. has placed the indicative ratings of
"bb+" on subordinated debt and "bb" on the preferred stock of
Validus Holdings, Ltd (Validus Holdings) under review with
negative implications.


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


CAIXA ECONOMICA: Funcef to Boost Equity Holdings to 40%
-------------------------------------------------------
Funcef, the pension fund for workers at state-owned Caixa
Economica Federal, plans to boost its stock holdings to take
advantage of the nation’s economic rebound and record-low interest
rates, Francisco Marcelino at Bloomberg News reports, citing
Funcef President Guilherme Lacerda.

According to the report, Mr. Lacerda said Funcef wants to raise
its equity holdings to 40% from 35%.  The report notes that Funcef
has about BRL13 billion (US$7 billion) invested in Brazilian
shares out of a total BRL37 billion in assets.

“We plan to increase our equity holdings,” Mr. Lacerda told the
news agency in a phone interview.  “We may look into companies we
already have a stake,” Mr. Lacerda added.

Bloomberg notes that Funcef also considered buying more shares of
companies such as Petroleo Brasileiro SA and JBS SA.

                       About Caixa Economica

Headquartered in Brasilia, Caixa Economica Federal --
http://www.caixa.gov.br-- is a Brazilian bank and one of the
largest government-owned financial institutions in Latin America.
Founded in Jan. 12, 1861, Caixa Economica is the second biggest
Brazilian bank, second only to Banco do Brasil, and offers
services in thousands of Brazilian towns, ranking third in Brazil
in number of branches.  The company has more than 32 million
accounts and controls more than US$170 billion.  It is responsible
for executing policies in the areas of housing and basic
sanitation, the administration of social funds and programs and
federal lotteries.

                           *     *     *

Caixa Economica Federal continues to carry a Ba2 foreign currency
deposit rating from Moody's Investors Service.  The rating was
assigned by Moody's in May 2008.


JBS SA: In Talks of Buying Out Pilgrim's Pride From Bankruptcy
--------------------------------------------------------------
JBS SA, the world's largest beef exporter, is in talks in buying
U.S.-based chicken producer Pilgrim's Pride Corporation out from
bankruptcy, the Wall Street Journal reported on September 3, 2009.
JBS, however, issued a statement on the same day saying there is
no transaction or firm commitment by the company "at this time."

The deal, valued by the Journal at US$2.5 billion, is set to be
announced in a matter of weeks, the newspaper said citing people
familiar with the talks.  Analysts opined that the deal would pull
Pilgrim's Pride out from bankruptcy and would make its presence
felt in the global meat market.  If the deal closes, it will pay
bank Pilgrim's lenders, bondholders and other unsecured creditors
in full, and still leave enough money for shareholders, the
Journal said.

At the close of trading on September 3, 2009, Pilgrim's Pride
shares closed up 27 cents, or 5.24%, at US$5.42 in Pink Sheet
trading, while JBS shares were up 14 cents, or 1.8%, at $7.87,
Reuters reported.

                   About Pilgrim's Pride

Headquartered in Pittsburgh, Texas, Pilgrim's Pride Corporation
(Pink Sheets: PGPDQ) -- http://www.pilgrimspride.com/-- employs
roughly 41,000 people and operates chicken processing plants and
prepared-foods facilities in 14 states, Puerto Rico and Mexico.
The Company's primary distribution is through retailers and
foodservice distributors.

Pilgrim's Pride Corp. and six other affiliates filed Chapter 11
petitions on December 1, 2008 (Bankr. N.D. Tex. Lead Case No.
08-45664).  The Debtors' operations in Mexico and certain
operations in the United States were not included in the filing
and continue to operate as usual outside of the Chapter 11
process.

Pilgrim's Pride has engaged Stephen A. Youngman, Esq., Martin A.
Sosland, Esq., and Gary T. Holzer, Esq., at Weil, Gotshal & Manges
LLP, as bankruptcy counsel.  The Debtors have also tapped Baker &
McKenzie LLP as special counsel.  Lazard Freres & Co., LLC, is the
company's investment bankers and William K. Snyder of CRG Partners
Group LLC as chief restructuring officer.  The Company's claims
and noticing agent is Kurtzman Carson Consulting LLC.

A nine-member committee of unsecured creditors has been appointed
in the case.

As of December 27, 2008, the Company had $3,215,103,000 in total
assets, $612,682,000 in total current liabilities, $225,991,000 in
total long-term debt and other liabilities, and $2,253,391,000 in
liabilities subject to compromise.

Bankruptcy Creditors' Service, Inc., publishes Pilgrim's Pride
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
of Pilgrim's Pride Corp. and its various affiliates.

                            About JBS SA

JBS SA is one of the world's largest beef producers with
operations in Brazil, the United States, Argentina, Australia and
Italy.  The company is the largest producer and exporter of fresh
meat and meat by-products in Brazil, Argentina and Australian and
the third largest in the USA.

                           *     *     *

As of June 17, 2009, the company continues to carry Moody's B1 LT
Corp rating and B1 Senior Unsecured Debt rating.  The company also
continues to carry Standard and Poors LT issuer Credit ratings B+.


TAM SA: Signs Partnership Deal With Ipiranga &  Walmart
-------------------------------------------------------
TAM SA, Ipiranga and Walmart, through their customer loyalty and
affiliation programs -- Km de Vantagens and Bomclube, respectively
-- are the first partners of Multiplus Fidelidade, the loyalty
program network initiative.

Through these partnerships, Multiplus Fidelidade members will have
more options for accumulating and redeeming points for products
and services that they use every day.  In addition to TAM SA's
flights and tour packages with TAM Viagens, customers can
accumulate points by purchasing products and services at Ipiranga
gas stations and by shopping at stores in the Walmart group, as
well as being able to redeem prizes at these partners' sales
outlets.

"Km de Vantagens and Bomclube enrich the customer base of
Multiplus Fidelidade, which already had more than 6 million
participants from TAM Fidelidade," said TAM's president Commander
David Barioni Neto.  The customer bases will altogether increase
the total number of members to nearly 12 million.

Multiplus Fidelidade represents the expansion of the concept of
customer loyalty programs in which, through a network of programs,
it is possible to accumulate and exchange points for products and
services of different companies, from airline tickets to everyday
purchases.  "Multiplus will be an efficient tool for establishing
customer loyalty and retaining customers at favorable costs for
the companies that are part of the partnership," said Libano
Barroso, TAM's Vice President of Finance, Management and IT.

Ipiranga's Km de Vantagens, a pioneer customer loyalty program in
the distribution sector that in five months of operation already
has more than 1.5 million members, operates throughout the entire
national territory of Brazil through accumulation of "kilometers"
on purchases of fuel, lubricants and other products and services
sold at gas stations under the brands Ipiranga (in the South and
Southeast regions), and Texaco (in the North, Northeast and
Central-West regions), at am/pm network and Jetoil stores, and
also at the websites Ipirangashop.com and KmdeVantagens.com.
Ipiranga is a member of Grupo Ultra, founded more than 70 years
ago, has more than 5 thousand gas stations and is the largest
privately held Brazilian company in the fuel-distribution
business.

"Filling up the gas tank is a recurring purchase for consumers.
The Ipiranga network sees some 30 million visits to the pump per
month.  The customer loyalty program Km de Vantagens allows for an
individualized, direct relationship with every customer and
strengthens the company's strategy of differentiation, based on a
diversified mix of products and services available at our filling
stations.  Joining the Multiplus Fidelidade program will help us
substantially expand benefits for program participants, increasing
the likelihood of more expansion and customer retention," said
Leocadio Antunes Filho, superintendent of Ipiranga/Grupo Ultra.

Bomclube is the Advantage Club of Walmart Brazil that awards
prizes to members through points accumulated on purchases at their
stores.  Present in all Northeastern states (the Bompreco and
HiperBompreco networks) and southern Brazil (BIG, Nacional and
Mercadorama), the program, which already has 4.3 million members,
is free, with registration available at any one of the network's
stores.

"Walmart has plans to expand its Advantage Club to every region of
the country. I have no doubt that the partnership with TAM will
strengthen the process," says Marcelo Vienna, Commercial Vice
President of Walmart Brazil.

In signing the partnership, the three companies -- TAM, Ipiranga
and Walmart -- will see a strengthening of their brands, which
will be part of the largest partnership coalition network in the
market.

Purchases at Ipiranga and Walmart sales outlets are already
accumulating points for their programs, which can be exchanged for
Multiplus Fidelidade points starting in November.  TAM, Ipiranga
and Walmart will soon notify their customers about the rules and
the exact date for the start of benefits.

                          About TAM SA

Based in Sao Paulo, Brazil, TAM S.A. -- http://www.tam.com.br/--
has business agreements with the regional airlines Pantanal,
Passaredo, Total and Trip.  As of Jan. 14, the daily flight on the
Corumba -- Campo Grande route in Mato Grosso do Sul began to be
operated by a partnership with Trip.  With the expansion of the
agreement with NHT, TAM will now be serving 82 destinations in
Brazil, 45 of which with its own flights.  In addition, the
company is strengthening its presence in Rio Grande do Sul and
Santa Catarina.

                           *     *     *

As of June 17, 2009, the company continues to carry Fitch
Ratings' 'BB' Foreign and Local Currency Issuer Default Ratings.
The company also continues to carry Moody's B1 LT Corp Family
Rating and Senior Unsecured Debt Ratings.


* BRAZIL: Gets US$60 Million Payment From Suriname
--------------------------------------------------
The government of Suriname paid off its longstanding debt to
Brazil on August 26, Ivan Cairo at Caribbean Net News reports,
citing the Ministry of Finance.  The report relates the initial
debt of US$60 million, which consisted of loans dating back from
the 1980s, over the years increased to a US$118 million, due to
arrears in backpayment.

According to the report, after intensive negotiations, Suriname
successfully reached a debt settlement agreeing to pay US$74
million in one single installment while the Brazilian government
will write off the remaining US$44 million.  The report relates
that Suriname has also agreed to invest the debt reduction of
US$44 million in the rehabilitation of the runway of the country's
international airport and co-financing of the Southdrain Road
connecting Suriname and Guyana.

Caribbean Net News notes that to complete the deal Suriname signed
an agreement with the Netherlands in July to utilize the remaining
development aid it was receiving from that country to pay off the
debt.

                           *     *     *

Brazil continues to carry Moody's Rating Agency's "Ba1" local and
foreign currency ratings.

As reported in the Troubled Company Reporter-Latin America on
July 15, 2008, Fitch Ratings affirmed the Issuer Default Ratings
and other outstanding ratings for Suriname as:

  -- Foreign currency issuer default rating at 'B';
  -- Local currency issuer default rating at 'B+';
  -- Country ceiling at 'B'.

The rating outlook is stable for both ratings.


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


BLACK RIVER: Members to Hear Wind-Up Report Today
-------------------------------------------------
The members of Black River CFO I Ltd. will hear today, Sept. 9,
2009, at 10:00 a.m., the liquidators' report on the company's
wind-up proceedings and property disposal.

The company's liquidators are:

          Victor Murray
          Jess Shakespeare
          c/o Maples Finance Limited
          PO Box 1093, Boundary Hall
          Grand Cayman KY1-1102, Cayman Islands


BLUE EAGLE: Members to Hear Wind-Up Report Today
------------------------------------------------
The members of Blue Eagle Portfolios Asian Opportunities Fund will
hear today, Sept. 9, 2009, at 10:30 a.m., the liquidators' report
on the company's wind-up proceedings and property disposal.

The company's liquidators are:

          Victor Murray
          Jess Shakespeare
          c/o Maples Finance Limited
          PO Box 1093, Boundary Hall
          Grand Cayman KY1-1102, Cayman Islands


CAIRN CAPITAL: Shareholder Receives Wind-Up Report
--------------------------------------------------
On September 7, 2009, the sole shareholder Cairn Capital Short-
Biased Credit Fund Limited received the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

          Keith Blake
          c/o Dorra Mohammed
          Telephone: 345-914-4475
          Facsimile: 345-949-7164
          P.O. Box 493, Grand Cayman KY1-1106
          Cayman Islands
          Telephone: 345-949-4800
          Facsimile: 345-949-7164


CAIRN CAPITAL: Shareholder Receives Wind-Up Report
--------------------------------------------------
On September 7, 2009, the sole shareholder Cairn Capital Short-
Biased Credit Master Fund Limited received the liquidator's report
on the company's wind-up proceedings and property disposal.

The company's liquidator is:

          Keith Blake
          c/o Dorra Mohammed
          Telephone: 345-914-4475
          Facsimile: 345-949-7164
          P.O. Box 493, Grand Cayman KY1-1106
          Cayman Islands
          Telephone: 345-949-4800
          Facsimile: 345-949-7164


CONCERTO LIMITED: Members to Hear Wind-Up Report Today
------------------------------------------------------
The members of Concerto Limited will hear today, Sept. 9, 2009, at
10:30 a.m., the liquidators' report on the company's wind-up
proceedings and property disposal.

The company's liquidators are:

          Victor Murray
          Jess Shakespeare
          c/o Maples Finance Limited
          PO Box 1093, Boundary Hall
          Grand Cayman KY1-1102, Cayman Islands


SEARCH PACIFIC: Shareholder Receives Wind-Up Report
--------------------------------------------------
On September 7, 2009, the shareholders Search Pacific Limited
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

          Wong, Mo Wah Gordon
          5701, 57/F Cheung Kong Center
          2 Queen's Road Central, Hong Kong
          Telephone: +852 2525 1211
          Facsimile: +852 2826 9418


SIXTINA 2: Members to Hear Wind-Up Report Today
-----------------------------------------------
The members of Sixtina 2 Invicta Japan Master Fund Limited will
hear today, Sept. 9, 2009, at 9:15 a.m., the liquidators' report
on the company's wind-up proceedings and property disposal.

The company's liquidators are:

          Victor Murray
          Jess Shakespeare
          c/o Maples Finance Limited
          PO Box 1093, Boundary Hall
          Grand Cayman KY1-1102, Cayman Islands


SIXTINA 2: Members to Hear Wind-Up Report Today
-----------------------------------------------
The members of Sixtina 2 Invicta Japan Fund Limited will hear
today, Sept. 9, 2009, at 9:00 a.m., the liquidators' report on the
company's wind-up proceedings and property disposal.

The company's liquidators are:

          Victor Murray
          Jess Shakespeare
          c/o Maples Finance Limited
          PO Box 1093, Boundary Hall
          Grand Cayman KY1-1102, Cayman Islands


SIXTINA 5: Members to Hear Wind-Up Report Today
-----------------------------------------------
The members of Sixtina 5 MQ Asia Master Fund Limited will hear
today, Sept. 9, 2009, at 9:30 a.m., the liquidators' report on the
company's wind-up proceedings and property disposal.

The company's liquidators are:

          Victor Murray
          Jess Shakespeare
          c/o Maples Finance Limited
          PO Box 1093, Boundary Hall
          Grand Cayman KY1-1102, Cayman Islands


SIXTINA 5: Members to Hear Wind-Up Report Today
-----------------------------------------------
The members of Sixtina 5 MQ Asia Fund Limited will hear today,
Sept. 9, 2009, at 9:45 a.m., the liquidators' report on the
company's wind-up proceedings and property disposal.

The company's liquidators are:

          Victor Murray
          Jess Shakespeare
          c/o Maples Finance Limited
          PO Box 1093, Boundary Hall
          Grand Cayman KY1-1102, Cayman Islands


SIXTINA 6: Members to Hear Wind-Up Report Today
-----------------------------------------------
The members of Sixtina 6 Fortitude Pacific Fund Limited will hear
today, Sept. 9, 2009, at 10:00 a.m., the liquidators' report on
the company's wind-up proceedings and property disposal.

The company's liquidators are:

          Victor Murray
          Jess Shakespeare
          c/o Maples Finance Limited
          PO Box 1093, Boundary Hall
          Grand Cayman KY1-1102, Cayman Islands


SIXTINA 7: Members to Hear Wind-Up Report Today
-----------------------------------------------
The members of Sixtina 7 Monterrey Pacific Master Fund Limited
will hear today, Sept. 9, 2009, at 10:15 a.m., the liquidators'
report on the company's wind-up proceedings and property disposal.

The company's liquidators are:

          Victor Murray
          Jess Shakespeare
          c/o Maples Finance Limited
          PO Box 1093, Boundary Hall
          Grand Cayman KY1-1102, Cayman Islands


SIXTINA 7: Members to Hear Wind-Up Report Today
-----------------------------------------------
The members of Sixtina 7 Monterrey Pacific Fund Limited will hear
today, Sept. 9, 2009, at 11:15 a.m., the liquidators' report on
the company's wind-up proceedings and property disposal.

The company's liquidators are:

          Victor Murray
          Jess Shakespeare
          c/o Maples Finance Limited
          PO Box 1093, Boundary Hall
          Grand Cayman KY1-1102, Cayman Islands


SIXTINA 8: Members to Hear Wind-Up Report Today
-----------------------------------------------
The members of Sixtina 8 JLC Asia Fund Limited will hear today,
Sept. 9, 2009, at 10:30 a.m., the liquidators' report on the
company's wind-up proceedings and property disposal.

The company's liquidators are:

          Victor Murray
          Jess Shakespeare
          c/o Maples Finance Limited
          PO Box 1093, Boundary Hall
          Grand Cayman KY1-1102, Cayman Islands


SIXTINA 9: Members to Hear Wind-Up Report Today
-----------------------------------------------
The members of Sixtina 9 Hindsight Asia Fund Limited will hear
today, Sept. 9, 2009, at 10:45 a.m., the liquidators' report on
the company's wind-up proceedings and property disposal.

The company's liquidators are:

          Victor Murray
          Jess Shakespeare
          c/o Maples Finance Limited
          PO Box 1093, Boundary Hall
          Grand Cayman KY1-1102, Cayman Islands


SIXTINA 14: Members to Hear Wind-Up Report Today
------------------------------------------------
The members of Sixtina 14 Oojoo Asia Fund Limited will hear today,
Sept. 9, 2009, at 11:30 a.m., the liquidators' report on the
company's wind-up proceedings and property disposal.

The company's liquidators are:

          Victor Murray
          Jess Shakespeare
          c/o Maples Finance Limited
          PO Box 1093, Boundary Hall
          Grand Cayman KY1-1102, Cayman Islands


SIXTINA 10: Members to Hear Wind-Up Report Today
------------------------------------------------
The members of Sixtina 10 Sparx Japan Fund Limited will hear
today, Sept. 9, 2009, at 11:00 a.m., the liquidators' report on
the company's wind-up proceedings and property disposal.

The company's liquidators are:

          Victor Murray
          Jess Shakespeare
          c/o Maples Finance Limited
          PO Box 1093, Boundary Hall
          Grand Cayman KY1-1102, Cayman Islands


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


BANCOLOMBIA SA: To Name New Member of Board of Directors Soon
-------------------------------------------------------------
Bancolombia S.A. will name a new member for its Board of
Directors, to replace Moreno Jaramillo, who passed away on
September 7, 2009.

The replacement will be designated at the General Shareholders'
Meeting.

Bancolombia S.A. is Colombia's largest full-service financial
institution, formed by a merger of three leading Colombian
financial institutions.  Bancolombia's market capitalization is
over US$5.5 billion, with US$13.8 billion asset base and
US$1.4 billion in shareholders' equity as of Sept. 30, 2006.
Bancolombia is the only Colombian company with an ADR level III
program in the New York Stock Exchange.

                           *     *     *

In May 2009, Moody's Investors Service upgraded from D to D+,
Bancolombia S.A.'s financial strength rating.  The outlook on the
BFSR was changed to "stable", from "positive".  Bancolombia's
long-term and short-term local currency deposit ratings of "Baa2"
and "Prime- 3", as well as the long-term and short-term foreign
currency deposit ratings of "Ba2" and "Not Prime" were affirmed by
Moody's.  Bancolombia's foreign currency subordinated debt rating
of"Baa3" was also affirmed with a stable outlook by the rating
firm.

Fitch Ratings affirmed on June 2009 Bancolombia's long- and short-
term Issuer Default Ratings and outstanding debt ratings as
follows: Long-term foreign currency IDR at 'BB+'; Short-term
foreign currency IDR at 'B'; Long-term local currency IDR at
'BB+'; Short-term local currency IDR at 'B'; Individual at 'C/D';
Support at '3'; Support Floor at 'BB-'.  At the same time the
rating for Bancolombia's subordinated debt maturing May 2017 was
affirmed at 'BB'. The Rating Outlook is Stable.


ECOPETROL: Pacific Rubiales Reports Drilling Update at Quifa Block
------------------------------------------------------------------
Pacific Rubiales Energy Corp. disclosed a new oil discovery at its
Quifa-7 well, located in Prospect "H" within the Quifa Block, the
Llanos Basin of Colombia.  The company also provided an update on
the operational activity in the block.

The Quifa-7 exploratory well found the top of the reservoir, the
Carbonera basal sands, at 2,857 feet measured depth (MD), or 2,206
feet true vertical depth below sea level (TVDSS) and the oil water
contact (OWC) at 2,896 feet MD or 2,245 feet TVDSS for a total oil
column of 39 feet from the OWC to the crest of the structure.
Preliminary petrophysical evaluation of the data from the well
indicates a net pay zone of 24 feet and 30% average porosity.
This result, along with the pressure and production regime
measured at the Quifa-5 and Quifa-8 wells recently drilled at
Prospect "E", suggests that prospects "H" and "E" are possibly
connected as a single oil reservoir.  The company is now planning
to test the well and to complete it as a vertical oil producer.

                      Operational Update

The Quifa-8 well, recently drilled as an appraisal well to the
Quifa 5b discovery in Prospect "E", was perforated for commingled
production-testing of two pay zones in the Carbonera basal sands
at 3,048 - 3,056 and 2,978 – 2,958 feet MD.  After the first four
days of testing, the well showed an average production of 100
barrels per day of 13.7 degrees API oil, slightly lighter than the
12.5 degrees API oil produced in the contiguous Rubiales field.
This production level is similar to those reported from other
vertical oil producer wells at the Rubiales field.

Well I-9ST2, drilled in Prospect "I" in the southwest part of the
Quifa Block, has a mechanical problem, and will initiate its
production test after a work over, scheduled for next month.

The Quifa Block is an Association Contract with Ecopetrol, S.A. in
which Meta Petroleum (a wholly-owned subsidiary of Pacific
Rubiales) holds a 60% working interest and Ecopetrol S.A. holds a
40% working interest.  Pacific Rubiales, a Canadian-based company
and producer of natural gas and heavy crude oil, owns 100 percent
of Meta Petroleum Corp., a Colombian oil operator which operates
the Quifa block in the Llanos Basin in association with Ecopetrol
S.A., the Colombian national oil company.

                        About Ecopetrol S.A.

Ecopetrol S.A. -- http://www.ecopetrol.com.co.-- is the largest
company in Colombia as measured by revenue, profit, assets and
shareholders' equity.  The company is Colombia's only vertically
integrated crude oil and natural gas company with operations in
Colombia and overseas.  Ecopetrol is one of the 40 largest
petroleum companies in the world and one of the four principal
petroleum companies in Latin America.  It is majority owned by the
Republic of Colombia and its shares trade on the Bolsa de Valores
de Colombia S.A. under the symbol ECOPETROL.  The company
divides its operations into four business segments that include
exploration and production; transportation; refining; and
marketing of crude oil, natural gas and refined-products.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 15, 2009, Fitch Ratings assigned a 'BB+' rating to Ecopetrol
S.A.'s proposed issuance of at least US$1 billion senior unsecured
notes due 2019.  Proceeds will be used for investments and general
corporate purposes.


ISAGEN SA: Renews Contract to Deliver Electricity to Venezuela
--------------------------------------------------------------
Isagen SA renewed a contract to deliver US$36 million worth of
electricity to Venezuela a year, Inti Landauro at Dow Jones
Newswires reports, citing Colombian Mines and Energy Minister
Hernan Martinez.

According to the report, Mr. Martinez said that Isagen will
deliver about 85 megawatts a day to Venezuela.  The report notes
that Isagen SA's net profit for the first half of this year almost
doubled to COP231 billion (US$114 million).

Isagen SA is a Colombia-based company primarily engaged in the
energy sector. Its activities comprise the electric power
generation and distribution, as well as the operation of coal,
steam and gas distribution networks.  The company has a total
installed capacity of 2,131 megawatts and its facilities include
four hydroelectric plants: Central San Carlos, Central Jaguas,
Central Calderas and Central Miel I, and one combined-cycle
thermal power station: Central Termocentro.  The company is also
involved in such expansion projects as Proyecto Guarino, Proyecto
Manso, Proyecto Hidroelectrico del Rio Amoya and Proyecto
Hidroelectrico Sogamoso.  Additionally, the Company holds a
minority interests in Gensa SA ESP and Electricaribe SA ESP.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 1, 2009, Fitch Ratings has downgraded ISAGEN's local currency
Issuer Default Rating to 'BB+' from 'BBB-' and has affirmed the
company's foreign currency IDR at 'BB+'.  The Rating Outlook is
Stable.


* COLOMBIA: To Sell COP2 Trillion of Bonds for Budget Gap
---------------------------------------------------------
Colombia will sell an extra COP2 trillion (US$999 million) of
domestic bonds this year to address a budget shortfall stemming
from lower tax revenue and the deferral of proceeds from the
planned sale of a state company, Helen Murphy and Alexander
Cuadros at Bloomberg News report, citing Finance Minister Oscar
Ivan Zuluaga.

According to the report, Mr. Zuluaga said the country plans to
sell its 58% stake in power company Isagen SA by the end of this
year to finance the 2010 budget instead of this year’s budget as
previously planned, creating a gap of COP3 trillion in 2009.  The
government also expects COP1.4 trillion less in tax income this
year, leaving the budget COP4.4 trillion short, Mr. Zuluaga added.

Bloomberg News notes that Mr. Zuluaga raised the consolidated
budget deficit target to 2.6% of gross domestic product from 2.4%
previously, and the central government budget deficit to 4% from
3.7%.  COP4 trillion of financing previously earmarked for 2010
will now be used for the 2009 budget, Mr. Zuluaga added.  The
report, citing William Ortiz, head of local debt sales at the
Finance Ministry, relates that of that amount, the government has
already sold COP3.4 trillion.

Mr. Zuluaga, Bloomberg News notes, said that the government plans
to auction a total of COP11.5 trillion of bonds this year, with
COP1.7 trillion of that amount remains to be sold at auction.  The
report relates that Mr. Zuluaga maintained plans to sell COP26.2
trillion of bonds in 2010.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
September 7, 2009, Fitch Ratings affirmed Colombia's sovereign
ratings:

  -- Long-term foreign currency Issuer Default Rating at 'BB+';
  -- Short-term foreign currency IDR at 'B';
  -- Long-term local currency IDR at 'BBB-';
  -- Outstanding senior unsecured debt at 'BB+';
  -- Country ceiling at 'BBB-'.


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


* DOMINICAN REPUBLIC: To Conclude Stand-by Arrangement With IMF
---------------------------------------------------------------
Dominican Republic's government and the International Monetary
Fund team want to conclude a new Stand-by arrangement by the end
of this week, Dr1 News reports.  The report relates that the
ongoing talks center round how to improve tax collections, given
that the government feels it would be politically unacceptable to
raise taxes.

According to the report, Hacienda Minister Vicente Bengoa
emphasized that the country is asking the IMF for financing to
cover this year's budget due to the deficit to a shortfall in
income.  The government was expecting a RD$21 billion gap between
budgeted income and collections by year's end, Mr. Bengoa added.

Planning, Economy and Development Minister Temistocles Montas, the
report notes, said that the IMF could provide up to US$1.22
billion in quick disbursements.  Of this money, US$500 million
would come from the World Bank and another US$500 million would
come from the Inter-American Development Bank (IDB), the report
adds.

Dr1 News, citing economy expert former Central Bank governor
Guillermo Caram, the funds from an IMF agreement would be enough
to reactivate the local economy and eliminate the need to issue
sovereign bonds.

                           *     *     *

The country continues to carry Moody's B2 currency ratings.


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


CASH PLUS: More Properties Up for Sale
--------------------------------------
Cash Plus Limited and its subsidiaries have stepped up the sale of
assets formerly owned by the collapsed investment scheme,
RadioJamaica reports.  The report relates that three more
properties have been placed on the auction block as liquidator
Hugh Wildman tries to raise funds in an effort to repay former
Cash Plus creditors.

According to the report, these company assets were advertised:

   -- lands in Jacks Hill and Norbrook Heights,
   -- a townhouse situated in Waterworks, St. Andrew
   -- office space in New Kingston, and
   -- a warehouse on Marcus Garvey Drive.

The report notes that efforts are being made to raise more than
JM$200 million from the sale of properties now under the
liquidator's control.

                         About Cash Plus

Cash Plus Limited is an investment club in Jamaica.  It
collapsed in 2007 after the Financial Services Commission moved
to regulate its operations.  The company is a financial arm of
the Cash Plus Group of Companies, a business conglomerate
established in 2002 by mortgage banker Carlos Hill.  The company
offers its participants the opportunity to participate in the
group's ventures which include mergers and numerous acquisitions.

In April 2008, the Supreme Court of Jamaica placed Cash Plus in
receivership.  Cash Plus admitted that it wouldn't be able to pay
its lenders until April 14, 2008.  The firm has 40,000 lenders
with loans totaling J$4 billion.  Cash Plus was unable to repay
its investors.  The Financial Services Commission said it was
informed by the attorney acting on behalf of Cash Plus that the
investment club lacked the funds to start the repayment of the
principal and interest owing to its investors.

PricewaterhouseCoopers' accountant Kevin Bandoian was appointed as
joint receiver-manager for Cash Plus.


GRAND BAHIA: Plans to Make 172 Jobs Redundant Amid Low Occupancy
----------------------------------------------------------------
Spanish-owned Grand Bahia Principe Hotel said it will be cutting
staff, RadioJamaica reports.  The report relates that the 1,900
room Grand Bahia Principe Hotel has cited low occupancy
projections as the reason it had to reduce its staff count.

According to the report, in a memo to its staff, the hotel did not
say how many members of its team would be sent off but RJR News
sources said as many as 172 workers could go, excluding the
several Spanish nationals employed in varying capacities.  The
report relates that the hotel has already met with several
departments to discuss the planned staff cuts.

RadioJamaica recalls that the massive hotel opened last year
amidst controversy including a run in with environmental agencies
and a wall collapsing, killing two people.


SAGICOR FINANCIAL: To Delist Shares at Jamaica Stock Exchange
-------------------------------------------------------------
Sagicor Financial Corporation has given notice to the Jamaica
Stock Exchange that it will be de-listing its shares from the
board of the JSE, effective September 16, 2009.

The main reason for the decision is the insignificant trading
activity in the Company’s shares which did not justify the
operational cost of maintaining this listing.

SFC’s experience with the JSE has been a positive one.  The
company expresses gratitude to the Board, Management and Staff of
both the JSE and the Jamaica Central Securities Depository for
their assistance and cooperation over the period of listing.  The
company remains supportive of the Jamaican market and look forward
to having SFC shares traded through the Caribbean Exchange Network
in the future.

Shareholders whose shares are deposited in the Jamaica Central
Securities Depository are requested to contact their Broker to
arrange to have their shares transferred either to:

   -- The Barbados Central Securities Depository to facilitate
      trading on the Barbados Exchange, or

   -- The Trinidad and Tobago Central Depository to facilitate
      trading on the Trinidad and Tobago Stock Exchange, or

   -- The Depositary Interest Register maintained to facilitate
      trading in CREST on the London Stock Exchange.

                    About Sagicor Financial

Sagicor Financial Corporation -- http://www.sagicor.com/-- is
synonymous with world-class financial services in the Caribbean.
This dynamic, indigenous company, with a proud history dating back
to 1840, has been redefining financial services in the Caribbean,
and has built a strong base from which to expand internationally.
Sagicor operates in 22 countries in the Caribbean, Latin America,
the UK and the US.


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


CEMEX SAB: Commences Global Public Offering
-------------------------------------------
CEMEX, S.A.B. de C.V. commenced a global public offering of 1,200
million of its Ordinary Participation Certificates, directly or in
the form of American Depositary Shares, plus up to an additional
180 million CPOs, directly or in the form of ADSs, to cover over-
allotments.  Included in the offering are 595 million CPOs that
will be sold on CEMEX’s behalf by three of its subsidiaries.  Of
the 1,200 million CPOs being offered, it is expected that 900
million CPOs will be offered in the United States and in other
countries outside Mexico and approximately 300 million CPOs will
be offered in a concurrent public offering in Mexico.  The
transaction is subject to market and other conditions.

J.P. Morgan, Citi, Santander Investment, and BBVA will act as
global coordinators for the global offering. J.P. Morgan, Citi,
Santander Investment, BBVA, BNP Paribas, HSBC, and RBS will act as
joint bookrunning managers on the international offering.
Acciones y Valores Banamex Casa de Bolsa, J.P. Morgan Casa de
Bolsa, Casa de Bolsa BBVA Bancomer, Santander Casa de Bolsa, and
HSBC Casa de Bolsa will act as bookrunning managers for the
Mexican offering.

CEMEX intends to use the net proceeds from the global offering to
pay down debt as required by the financing agreement recently
entered into with its creditors.

A registration statement relating to these securities has been
filed with the U.S. Securities and Exchange Commission and is
effective.  A Spanish language prospectus has been filed with
Comision Nacional Bancaria y de Valores (Mexican securities
The offering is made solely by means of prospectuses.  Copies of
the international prospectus may be obtained from the prospectus
departments of:

     J.P. Morgan Securities Inc.
     Prospectus Library
     4 Chase Metrotech Center
     CS Level, Brooklyn, NY 11245
     Tel: (718) 242-8002

     Citigroup Global Markets Inc.
     Brooklyn Army Terminal,
     140 58th Street, 8th floor
     Brooklyn NY 11220
     Tel: (718) 765-6732

     Santander Investment
     Equity Capital Markets
     Elias Ehrlich
     45 East 53rd Street, 12th floor,
     New York, NY 10022
     Tel: (212) 407-0963

     Banco Bilbao Vizcaya Argentaria, S.A
     ECM Department
     Via de los Poblados s/n, 28033 Madrid
     Tel: (34 91) 537-9337

     BNP Paribas Equity Syndicate
     16 avenue de Matignon, 75008
     Paris, France

     HSBC
     Prospectus Dept.
     452 Fifth Avenue
     New York, NY 10018
     Tel: (866) 811-8049

     RBS Securities Inc.
     Prospectus Library
     600 Washington Blvd.
     Stamford, CT 06901
     Tel: (203) 897-9874

Copies of the Mexican prospectus may be obtained from the
prospectus departments of:

     Acciones y Valores Banamex
     Casa de Bolsa Paseo de la Reforma
     398 – 4th piso, Col. Juarez
     06600 Mexico, D.F.
     J Antonio Espindola / Santiago Guzman
     Equity Capital Markets

     J.P. Morgan Casa de Bolsa
     Av Paseo de las Palmas 405
     Col Lomas de Chapultepec
     piso 16, Mexico City 11000
     Mexico
     Ricardo Carvallo
     Tel: 52 (55) 5540-9361

     Casa de Bolsa BBVA Bancomer
     Montes Urales 620 2nd floor
     Col. Lomas de Chapultepec 11000
     Mexico D.F.
     Banca de Inversion/ECM Mexico
     Tel: 52 (55) 5201-2069

     Santander Casa de Bolsa
     Equity Capital Markets
     Prol. Paseo de la Reforma
     #500 Modulo 109 Col.
     Lomas de Santa Fe
     Alvaro Obregon
     01219, Mexico DF
     Roberto Baena
     Tel: 52 (55) 5269-1819

     HSBC Casa de Bolsa
     Luis A Hernandez
     Tesoreria HSBC
     Av Paseo de la Reforma 347 Piso 15
     Col Cuauhtemoc C.P 06500, Mexico D.F

                         About CEMEX SAB

CEMEX, S.A.B. de C.V. is a Mexican corporation, a holding company
of entities which main activities are oriented to the construction
industry, through the production, marketing, distribution and sale
of cement, ready-mix concrete, aggregates and other construction
materials.  CEMEX is a public stock corporation with variable
capital (S.A.B. de C.V.) organized under the laws of the United
Mexican States, or Mexico.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
August 19, 2009, Fitch Ratings has affirmed these ratings of
Cemex, S.A.B. de C.V.:

  -- Foreign currency Issuer Default Rating at 'B';

  -- Local currency IDR at 'B';

  -- Long-term national scale rating at 'BB-(mex)';

  -- MXN5 billion Certificados Bursatiles program at 'BB- (mex)';

  -- MXN30 billion Programa Dual Revolvente de Certificados
     Bursatiles program at 'BB-(mex)';

  -- Senior unsecured debt obligations at 'B+/RR3';

  -- Unsecured debt issued through the Certificados Bursatiles
     program at 'BB-(mex)';

  -- Short-term national scale rating at 'B (mex)';

  -- MXN2.5 billion short-term portion of Programa Dual Revolvente
     de Certificados Bursatiles program at 'B (mex)'.


===============
S U R I N A M E
===============


* SURINAME: Pays Off US$60 Million Debt to Brazil
-------------------------------------------------
The government of Suriname paid off its longstanding debt to
Brazil on August 26, Ivan Cairo at Caribbean Net News reports,
citing the Ministry of Finance.  The report relates the initial
debt of US$60 million, which consisted of loans dating back from
the 1980s, over the years increased to a US$118 million, due to
arrears in backpayment.

According to the report, after intensive negotiations, Suriname
successfully reached a debt settlement agreeing to pay US$74
million in one single installment while the Brazilian government
will write off the remaining US$44 million.  The report relates
that Suriname has also agreed to invest the debt reduction of
US$44 million in the rehabilitation of the runway of the country's
international airport and co-financing of the Southdrain Road
connecting Suriname and Guyana.

Caribbean Net News notes that to complete the deal Suriname signed
an agreement with the Netherlands in July to utilize the remaining
development aid it was receiving from that country to pay off the
debt.

                           *     *     *

Brazil continues to carry Moody's Rating Agency's "Ba1" local and
foreign currency ratings.

As reported in the Troubled Company Reporter-Latin America on
July 15, 2008, Fitch Ratings affirmed the Issuer Default Ratings
and other outstanding ratings for Suriname as:

  -- Foreign currency issuer default rating at 'B';
  -- Local currency issuer default rating at 'B+';
  -- Country ceiling at 'B'.

The rating outlook is stable for both ratings.


=============
U R U G U A Y
=============


URUGUAY: S&P Affirms BB- For., Local Cur. Sovereign Credit Ratings
------------------------------------------------------------------
On Sept. 7, 2009, Standard & Poor's Ratings Services affirmed its
'BB-' foreign and local currency sovereign credit ratings on the
Oriental Republic of Uruguay.  In addition, the 'B' short-term
ratings on Uruguay were also affirmed.  At the same time, Standard
& Poor's affirmed the '2' recovery rating on Uruguay.  The
transfer and convertibility assessment remains at 'BB+'.  The
outlook remains stable.

In S&P's opinion, a growing track record of prudent macroeconomic
management, recently tested by the severe global financial and
economic crisis, and improvements in the medium-term economic
outlook based on significant levels of green-field foreign direct
investment continue to be constrained at the current rating level
by still-high government debt, dollarization, and vulnerability to
regional developments.

Standard & Poor's expects a smooth transition into the new
Administration -- to be elected in October 2009 -- given Uruguay's
solid political institutional framework.  The growing track record
of prudent economic policies is expected to continue after the
election, irrespective of the result.  While in S&P's view the
electoral process will certainly heighten the debate on
microeconomic issues, the ratings on Uruguay assume a relatively
solid level of consensus on macroeconomic restrictions, as well as
on the key role that private investment will play in improving
Uruguay's medium-term economic prospects.

Recent policies have significantly reduced the general government
debt level to an estimated 45% of GDP (in net terms using Standard
& Poor's methodology) expected for year-end 2009 (from about a
100% in 2003), improved the government's debt amortization profile
by pre-financing most of the financing needs over the next 18
months, strengthened the banking system, and have led to a
reduction in Uruguay's net external debt level after a strong
process of international reserves accumulation.

Improving economic conditions, combined with Uruguay's strong
institutional framework, have attracted and continue to attract
green-field FDI, led by the pulp and paper industry.  FDI levels
averaged 6% of GDP over the last four years, and, although
expected to decline from these very high levels, will remain
strong over the medium term.  S&P believes that strong FDI flows
are assisting in the reversal of one of Uruguay's greatest
economic weaknesses: a very low level of investment.

Despite recent declines, S&P considers that a still-high
government debt level remains an important credit weakness in
Uruguay.  Government debt remains highly vulnerable to exchange
rate fluctuations, with 65% of the debt denominated in foreign
currency.  In addition, high levels of dollarization (85% of
deposits) that undermine monetary policy implementation, and a
rigid fiscal structure, which diminishes fiscal room to maneuver,
restrict the flexibility of economic policy implementation.

The ratings on Uruguay will continue to be constrained by its
vulnerability to both commodity prices and regional performance.
In addition, S&P believes that the uncertain prospects for the
Argentine economy could hinder Uruguay's own economic performance,
even though recent policies in Uruguay have moderated some of the
historical channels of contagion, such as the financial one.
The stable outlook at the current rating level balances prudent
economic policies with Uruguay's credit weaknesses described
above.  Going forward, the continuation of a proactive economic
policy agenda -- with the new administration -- that modernizes
Uruguay's economic structure, enhancing the country's medium-term
economic prospects, as well as making economic performance less
vulnerable to external shocks, could create the basis for a
positive change to the outlook.  On the contrary, weaker
commitment to macroeconomic prudence -- reflected for example in
fiscal deficits that could increase in the medium term and could
lead to a reversal in the declining debt trends seen in the recent
past -- could put future pressure on the rating if it were to
persist.

                         Ratings Affirmed

                  Uruguay (Oriental Republic of)

       Sovereign Credit Rating                BB-/Stable/B
       Transfer & Convertibility Assessment   BB+

        N.B. -- This does not include all ratings affected.


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


CITGO PETROLEUM: Negotiating With PDVSA on New Crude Supply Deals
-----------------------------------------------------------------
Citgo Petroleum Corp. is negotiating with its Venezuela parent,
Petroleos de Venezuela, on new crude supply contracts that will
eliminate the "discount" the company had been receiving for its
purchases, Petroleumworld.com reports.  The report relates that
Citgo Petroleum buys about 40% of its crude needs from its parent
and holds long-term supply contracts for its refineries.

According to the report, those supply agreements are all netback
based, similar to a crude supply contract state oil company PDVSA
altered with Lyondell last year.  The report notes that Lyondell's
new contract uses posted Venezuela official selling prices based
on Platts assessments.

Citgo Petroleum CEO Alejandro Granado , the report relates, said
that the company is currently "revisiting" supply deals with PDVSA
for Venezuelan crude to make the relationship between the
companies more transparent.  "The price should be a market price,
not a discount," the report quoted Mr. Granado as saying.  "We're
eliminating those contracts with a discount because we should not
get a preferential decision.  It's not healthy to one side or the
other," Mr. Granado added.

Petroleumworld.com says the Lyondell agreement was the beginning
of a move to a new monthly OSP system by Venezuela.  The report,
citing securities filings, relates it included "publicly announced
formula[s] for deliveries of oil destined for ports in the US Gulf
Coast and the Caribbean."

                       About Citgo Petroleum

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 S.A., the
state-owned oil company of Venezuela.

                           *     *     *

As reported in the Troubled Company Reporter on June 5, 2009,
Fitch Ratings affirmed the current ratings of CITGO Petroleum
Corporation but revised the company's Outlook to Negative from
Stable.

Fitch affirmed these ratings for CITGO:

  -- Issuer Default Rating at 'BB-';
  -- Senior Secured Credit Facility at 'BBB-';
  -- Secured Term Loan at 'BBB-';
  -- Fixed-Rate Industrial Revenue Bonds at 'BBB-'.

                          About PDVSA

Petroleos de Venezuela -- http://www.pdvsa.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.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 3, 2009, Fitch Ratings assigned a 'B+/RR4' rating to
Petroleos de Venezuela S.A.'s proposed US$3 billion zero coupon
notes due in 2011.  These notes will be registered at Euroclear
or Clearstream.  Proceeds from the issuance are expected to be
used to fund capital expenditures and for other general corporate
purposes.  Fitch also has these ratings on PDVSA:

  -- Foreign currency Issuer Default Rating 'B+'
  -- Local currency IDR 'B+'
  -- US$3 billion outstanding senior notes (due 2017) 'B+/RR4'
  -- US$3.5 billion outstanding senior notes (due 2027) 'B+/RR4'
  -- US$1.5 billion outstanding senior notes (due 2037) 'B+/RR4'


GLOBOVISION: Has 8 Days to Respond to "Violence" Claims
-------------------------------------------------------
Daniel Cancel at Bloomberg Newa reports that Globovision has eight
days to prepare its defense against the accusations of Venezuela
telecommunications regulator, Conatel, that the television is
inciting violence in its broadcasts.

As reported in the Troubled Company Reporter-Latin America on
September 7, 2009, The Associated Press said that Venezuela
Telecommunications Chief Diosdado Cabello said there is
a new probe into a television station opposed to President Hugo
Chavez's government.  The report related that Mr. Cabello said the
recent investigation into Globovision was opened because the
channel allegedly broadcast a  ticker strip of text messages from
viewers calling for a coup.  The report said that the series of
investigations into Globovision, the only fiercely anti-Chavez
channel remaining on the open airwaves, could lead to its closure.

“Those messages are filtered by the channel and there must be
consequences if a channel is calling for the assassination of the
president or a coup,” Bloomberg quoted Mr. Cabello as saying.

According to Bloomberg News, citing the legal representative of
Globovision Ana Cristina Nunez, the charge against Globovision
could lead to a 72-hour suspension of broadcasts or the complete
revoking of its license.


PETROLEOS DE VENEZUELA: Citgo Negotiating on New Supply Deals
-------------------------------------------------------------
Citgo Petroleum Corp. is negotiating with its Venezuela parent,
Petroleos de Venezuela, on new crude supply contracts that will
eliminate the "discount" the company had been receiving for its
purchases, Petroleumworld.com reports.  The report relates that
Citgo Petroleum buys about 40% of its crude needs from its parent
and holds long-term supply contracts for its refineries.

According to the report, those supply agreements are all netback
based, similar to a crude supply contract state oil company PDVSA
altered with Lyondell last year.  The report notes that Lyondell's
new contract uses posted Venezuela official selling prices based
on Platts assessments.

Citgo Petroleum CEO Alejandro Granado , the report relates, said
that the company is currently "revisiting" supply deals with PDVSA
for Venezuelan crude to make the relationship between the
companies more transparent.  "The price should be a market price,
not a discount," the report quoted Mr. Granado as saying.  "We're
eliminating those contracts with a discount because we should not
get a preferential decision.  It's not healthy to one side or the
other," Mr. Granado added.

Petroleumworld.com says the Lyondell agreement was the beginning
of a move to a new monthly OSP system by Venezuela.  The report,
citing securities filings, relates it included "publicly announced
formula[s] for deliveries of oil destined for ports in the US Gulf
Coast and the Caribbean."

                       About Citgo Petroleum

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 S.A., the
state-owned oil company of Venezuela.

                           *     *     *

As reported in the Troubled Company Reporter on June 5, 2009,
Fitch Ratings affirmed the current ratings of CITGO Petroleum
Corporation but revised the company's Outlook to Negative from
Stable.

Fitch affirmed these ratings for CITGO:

  -- Issuer Default Rating at 'BB-';
  -- Senior Secured Credit Facility at 'BBB-';
  -- Secured Term Loan at 'BBB-';
  -- Fixed-Rate Industrial Revenue Bonds at 'BBB-'.

                          About PDVSA

Petroleos de Venezuela -- http://www.pdvsa.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.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 3, 2009, Fitch Ratings assigned a 'B+/RR4' rating to
Petroleos de Venezuela S.A.'s proposed US$3 billion zero coupon
notes due in 2011.  These notes will be registered at Euroclear
or Clearstream.  Proceeds from the issuance are expected to be
used to fund capital expenditures and for other general corporate
purposes.  Fitch also has these ratings on PDVSA:

  -- Foreign currency Issuer Default Rating 'B+'
  -- Local currency IDR 'B+'
  -- US$3 billion outstanding senior notes (due 2017) 'B+/RR4'
  -- US$3.5 billion outstanding senior notes (due 2027) 'B+/RR4'
  -- US$1.5 billion outstanding senior notes (due 2037) 'B+/RR4'


* VENEZUELA: Isagen Renews Electricity Delivery Contract
--------------------------------------------------------
Isagen SA renewed a contract to deliver US$36 million worth of
electricity to Venezuela a year, Inti Landauro at Dow Jones
Newswires reports, citing Colombian Mines and Energy Minister
Hernan Martinez.

According to the report, Mr. Martinez said that Isagen will
deliver about 85 megawatts a day to Venezuela.  The report notes
that Isagen SA's net profit for the first half of this year almost
doubled to COP231 billion (US$114 million).

Isagen SA is a Colombia-based company primarily engaged in the
energy sector. Its activities comprise the electric power
generation and distribution, as well as the operation of coal,
steam and gas distribution networks.  The company has a total
installed capacity of 2,131 megawatts and its facilities include
four hydroelectric plants: Central San Carlos, Central Jaguas,
Central Calderas and Central Miel I, and one combined-cycle
thermal power station: Central Termocentro.  The company is also
involved in such expansion projects as Proyecto Guarino, Proyecto
Manso, Proyecto Hidroelectrico del Rio Amoya and Proyecto
Hidroelectrico Sogamoso.  Additionally, the Company holds a
minority interests in Gensa SA ESP and Electricaribe SA ESP.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 1, 2009, Fitch Ratings has downgraded ISAGEN's local currency
Issuer Default Rating to 'BB+' from 'BBB-' and has affirmed the
company's foreign currency IDR at 'BB+'.  The Rating Outlook is
Stable.


                            ***********

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

Tuesday's edition of the TCR-LA features a list of companies
with insolvent balance sheets obtained by our editors based on
the latest balance sheets publicly available a day prior to
publication.  At first glance, this list may look like the
definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical
cost net of depreciation may understate the true value of a
firm's assets.  A company may establish reserves on its balance
sheet for liabilities that may never materialize.  The prices at
which equity securities trade in public market are determined by
more than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Thursday's edition of the TCR-LA. Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com

                            ***********


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, Marites O. Claro, Joy A. Agravente, Rousel Elaine C.
Tumanda, Valerie C. Udtuhan, Frauline S. Abangan, and Peter A.
Chapman, Editors.


Copyright 2009.  All rights reserved.  ISSN 1529-2746.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.

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

The TCR Latin America subscription rate is US$625 per half-year,
delivered via e-mail.  Additional e-mail subscriptions for members
of the same firm for the term of the initial subscription or
balance thereof are US$25 each.  For subscription information,
contact Christopher Beard at 240/629-3300.


           * * * End of Transmission * * *