TCRLA_Public/100323.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

              Tuesday, March 23, 2010, Vol. 11, No. 057

                            Headlines



A R G E N T I N A

ADVANCED CONSTRUCTION: Creditors' Proofs of Debt Due on June 18
BBVA BANCO: Fitch Affirms Individual Rating at 'D'
BARON BLUE: Asks for Opening of Preventive Contest
BHL EXPRESS: Creditors' Proofs of Debt Due on May 27
COMPANIA AGROPECUARIA: Creditors' Proofs of Debt Due on April 9

SALINERA GENERAL: Asks for Own Bankruptcy
* ARGENTINA: Government Says U.S. SEC Approves Debt Swap


B E R M U D A

XL CAPITAL: Executive Slams Ongoing U.S. Support for AIG


B R A Z I L

BANCO DE BRASILIA: Moody's Assigns 'E+' Bank Strength Ratings
COMPANHIA ENERGETICA: To Reveal 4Q2009 Results on March 24
COMPANHIA ENERGETICA: Submits Explanation Letter to BM&F BOVESPA
USINIMAS SIDERURGICA: Workers End 12-Day Strike in Brazil Unit
USINIMAS SIDERURGICA: Receives Unified ISO 9001 Certification

* BRAZIL: Analysts Lift 2011 CPI Outlook for Second Week


C A Y M A N  I S L A N D S

ARLO VI: S&P Withdraws 'CCC-' Rating on Floating-Rate Notes
BLACKHAWK REINSURANCE: Member to Hear Wind-Up Report on March 31
CHINA TIME: Placed Under Provisional Liquidation
COOPER MULTI-STRATEGY: Creditors' Proofs of Debt Due on March 25
COOPER MULTI-STRATEGY: Member to Hear Wind-Up Report on March 25

CREP INVESTMENT: Creditors' Proofs of Debt Due on April 1
FAIRFIELD ARECA: Members to Hear Wind-Up Report on April 8
FAIRFIELD BARON: Members to Hear Wind-Up Report on April 8
FAIRFIELD MT: Members to Hear Wind-Up Report on April 8
FAIRFIELD PARABOLIC: Members to Hear Wind-Up Report on April 8

FINIA LIMITED: Commences Liquidation Proceedings
GRAPHITE INVESTMENTS: Commences Wind-Up Proceedings
IRIS INVESTMENTS: Commences Liquidation Proceedings
JAMURI LTD: Commences Liquidation Proceedings
LADY MICHELLE: Shareholder to Hear Wind-Up Report on April 1

LEHMAN BROTHERS: Shareholder to Receive Wind-Up Report on March 31
LINCOLN FINANCIAL: Shareholders to Hear Wind-Up Report on April 1
MILLICENT LTD: Commences Liquidation Proceedings
NEBO LIMITED: Commences Liquidation Proceedings
MODERN CAPITAL: Commences Wind-Up Proceedings

MODERN CAPITAL: Commences Wind-Up Proceedings
PLATYPUS ASIAN: Members to Hear Wind-Up Report on March 29
ROBINIA INVESTMENTS: Commences Wind-Up Proceedings
RUSSIAN OPPORTUNITIES: Commences Liquidation Proceedings
SHACKLETON RE: Shareholder to Hear Wind-Up Report on March 31

SPROUT GROWTH: Shareholders to Receive Wind-Up Report on May 26
STAPLES INVESTMENTS: Commences Wind-Up Proceedings
THAMES RIVER: Members to Receive Wind-Up Report on March 26
THAMES RIVER: Members to Receive Wind-Up Report on March 26
TORMENTIL INVESTMENTS: Commences Wind-Up Proceedings

TRITONIA INVESTMENTS: Commences Wind-Up Proceedings


C H I L E

* CHILE: May Raise Mining Taxes to Fund Reconstruction


J A M A I C A

AIR JAMAICA: Lays Off 10 Pilots and 100 Flight Attendants
DOMINO'S PIZZA: Wisynco Foods to Open Outlet in Bogue
* JAMAICA: Government Debt Ballooning


M E X I C O

AGUAS DEL MUNICIPIO: Moody's Upgrades Issuer Rating to 'Ba3'
CAPMARK FINANCIAL: Wants to Sell Investments in Mexican Markets
FORD CREDIT: Moody's Raises National Scale Debt Rating From 'Ba1'
* MEXICO: Economy May Grow 4% to 5%, Carstens Says


P E R U

BANCO INTERNACIONAL: Fitch Assigns 'BB' Support Rating Floor


P U E R T O  R I C O

FIRSTBANK PUERTO RICO: Wins US$10.2MM Foreclosure Suit
* PUERTO RICO: S&P Downgrades Rating on Industrial Loan to 'BB'


V E N E Z U E L A

ELECTICIDAD DE CARACAS: To Suspend Power to 80 Businesses
PETROLEOS DE VENEZUELA: New Trucks to Improve Petroleum Supply
* VENEZUELA: To Produce 200 Million Cubic Feet of Gas in 2012


X X X X X X X X

* LATAM: FOMIN, IIC, Investors, Launch New Lending Facility
* Large Companies With Insolvent Balance Sheets




                         - - - - -


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


ADVANCED CONSTRUCTION: Creditors' Proofs of Debt Due on June 18
---------------------------------------------------------------
Juan Jose Romanelli, the court-appointed trustee for Advanced
Construction Technology SA's reorganization proceedings, will be
verifying creditors' proofs of claim until June 18, 2010.

Mr. Romanelli will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 9 in Buenos Aires, with the assistance of Clerk
No. 18, 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.

Creditors will vote to ratify the completed settlement plan
during the assembly on March 17, 2011.

The Trustee can be reached at:

         Juan Jose Romanelli
         Gandara 2700
         Argentina


BBVA BANCO: Fitch Affirms Individual Rating at 'D'
--------------------------------------------------
Fitch Ratings has affirmed BBVA Banco Frances' ratings:

  -- Long-term national rating at 'AA(arg)';
  -- Short-term national rating at 'A1+(arg)';
  -- Individual at 'D';
  -- Support '5';

The Rating Outlook is Stable.

The bank's US$300 million debt issuance programme was also
affirmed at 'AA(arg)'.

The ratings reflect Frances's solid franchise in Argentina, the
improvement of its profitability and balance sheet integrity and
its good liquidity and asset quality.  They also take into account
its ownership by Spain's Banco Bilbao Vizcaya Argentaria (BBVA;
rated 'AA-', Outlook Positive by Fitch), and its still high
exposure to the public sector and the volatile operating
environment.

In spite of the sharp slowdown of the economy and high inflation
in 2009, the performance of most argentine banks has been
resilient.  Frances's profitability has improved in the past few
years, mainly based on higher net interest and commission income
and, in 2009, significant gains from its government bonds
portfolio, which have been highly volatile in the last quarters.
Fitch expects Frances's profitability to remain adequate, based on
its sound revenue generation capacity and the expected increase in
loan demand, although its income statement will still be affected
by market volatility.

Frances's asset quality is healthy, although its non-performing
loans rose slightly in 2009.  At Dec. 31, 2009, its NPL accounted
for a low 0.98% of the total, with sound loan loss reserve
coverage of 287.2%.

Although Frances has been actively reducing its public sector
exposure, it rose in 2009 due to the higher market value of the
government bonds.  At 21.4% of total assets and 1.8 times its
equity, public sector exposure was still considerable at Dec. 31,
2009.  Argentine Central Bank securities held for liquidity
purposes accounted for 56.3% of the exposure.

Frances's liquidity is ample, backed by continued deposit growth.
Its capital adequacy has increased due to increased profits and
slower loan growth, which have compensated for dividend payments.
However, the bank's capital adequacy ratios have shown some
volatility due to the adjustments in the value of government
securities in the available for sale portfolio.

Spain's BBVA held 75.97% of Frances at year-end 2008.  Frances was
the second largest private sector bank by deposits in Argentina at
year-end 2009 and had 271 branches.


BARON BLUE: Asks for Opening of Preventive Contest
--------------------------------------------------
Baron Blue SA asked for the opening of preventive contest.

The company stopped making payments last February 22.


BHL EXPRESS: Creditors' Proofs of Debt Due on May 27
----------------------------------------------------
Vilma Vaello, the court-appointed trustee for BHL Express SA's
bankruptcy proceedings, will be verifying creditors' proofs of
claim until May 27, 2010.

Ms. Vaello will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 1 in Buenos Aires, with the assistance of Clerk
No. 2, 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.

The Trustee can be reached at:

         Vilma Vaello
         Tucuman 1455
         Argentina


COMPANIA AGROPECUARIA: Creditors' Proofs of Debt Due on April 9
---------------------------------------------------------------
Jorge Raul Mencia, the court-appointed trustee for Compania
Agropecuaria San Eduardo SRL's bankruptcy proceedings, will be
verifying creditors' proofs of claim until April 9, 2010.

Mr. Mencia will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 3 in Buenos Aires, with the assistance of Clerk
No. 6, 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.

The Trustee can be reached at:

         Jorge Raul Mencia
         Rodriguez Pena 350
         Argentina


SALINERA GENERAL: Asks for Own Bankruptcy
-----------------------------------------
Salinera General San Martin SRL asked for its own bankruptcy.


* ARGENTINA: Government Says U.S. SEC Approves Debt Swap
--------------------------------------------------------
Drew Benson at Bloomberg News reports that Argentina Finance
Secretary Hernan Lorenzino said the government has received
approval from the U.S. Securities and Exchange Commission to offer
creditors an exchange for US$20 billion in defaulted debt.  The
government plans to send the terms of the offer to the SEC and
expects to open the exchange in about two weeks, Mr. Lorenzino
told Bloomberg News in a telephone interview.

According to the report, a settlement with the investors who kept
their bonds out of a 2005 restructuring would pave the way for
Argentina to access international capital markets for the first
time since it defaulted on US$95 billion of debt in 2001.

"The process is moving forward," the report quoted Mr. Lorenzino
as saying.  Argentina will open the offer when it gets approval
from European regulators and the SEC authorizes the terms, he
added.

Bloomberg News notes that the government is in need of money to
fund a widening budget deficit that RBS Securities Inc. projects
will double this year to 1.2% of gross domestic product from
0.6% in 2009.

Meanwhile, Bloomberg News, citing Credit Suisse Group AG, says
that Argentina faces borrowing requirements of US$12.5 billion
this year, about US$6 billion of which has not yet been lined up.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
October 9, 2009, Standard & Poor's Ratings Services said that it
lowered to 'B-' from 'B' its local currency long-term issuer
credit rating on the City of Buenos Aires.  At the same time,
Standard & Poor's affirmed its 'B-' foreign currency long-term
issuer credit rating.  The outlook on the local and foreign
currency long-term issuer credit ratings is stable.


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


XL CAPITAL: Executive Slams Ongoing U.S. Support for AIG
--------------------------------------------------------
Jonathan Kent at The Royal Gazette reports that XL Capital Limited
Chief Executive Officer Mike McGavick said he's "jealous" of
American International Group's continuing support from the U.S.
government.  The report relates Mr. McGavick said that the notion
that some financial institutions were "too big to fail" notion was
flawed and would have unintended consequences for the market.

According to the report, Mr. McGavick said that the U.S.
government intervention in AIG "might have been the right reaction
at that particular period of time".  "But now I am frustrated to
know that we have a government-owned competitor -- the problem is
very, very real," the report Mr. McGavick as saying.  "I'm very
jealous of them being able to call the Treasury to refuel their
reserves -- it sets in motion a whole bunch of consequences that
the consumer will pay for when the market corrects," he added.

Mr. McGavick, the report notes, said that he was amazed that AIG
had been allowed to choose which assets to sell to repay the
government.  "It should be of grave concern to the American
taxpayer," the report quoted Mr. McGavick as saying.

The Gazette recalls that XL Capital, which recovered strongly,
last year, had to raise around US$2.9 billion through the capital
markets and received no U.S. aid.

                        About XL Capital

Headquartered in Hamilton, Bermuda, XL Capital Ltd provides
insurance and reinsurance coverages through its operating
subsidiaries to industrial, commercial and professional
service firms, insurance companies and other enterprises on a
worldwide basis.  As of December 31, 2008, XL Capital Ltd reported
total invested assets of US$34.3 billion and shareholders' equity
of US$6.6 billion.

                           *     *     *

As reported by the Troubled Company Reporter-Latin America on
Feb. 18, 2009, Moody's Investors Service affirmed XL Capital Ltd's
"Ba1" preferred stock rating.


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


BANCO DE BRASILIA: Moody's Assigns 'E+' Bank Strength Ratings
-------------------------------------------------------------
Moody's Investors Service has assigned first-time ratings to BRB -
- Banco de Brasilia S.A.: a bank financial strength rating of E+;
global local- and foreign-currency deposit ratings of Ba3 and Not
Prime, long- and short-term, respectively; and Brazilian national
scale deposit ratings of A2.br and BR-1, long- and short-term,
respectively.  All ratings have a stable outlook.

The BFSR of E+ reflects BRB's franchise as a regional retail bank
with operations concentrated in the Federal District.  The bank is
controlled by the government of the Federal District and most of
its client base is composed of public servants employed by its
main shareholder.  The rating incorporates the bank's established
and focused operation in lending and deposit-taking in its core
market, which results in solid brand name recognition and market
share within the Federal District.  The bank benefits from a
stable and loyal funding base, and from a granular loan book that
is mainly comprised of operations with individuals.

Moody's noted that BRB is also exposed to heavy competition from
the large retail banks within its regional market.  The bank also
lacks the large distribution networks and efficiency of its
competitors, which makes it difficult to expand its activities
outside its niche market.  Such limitations are also incorporated
into BRB's E+ BFSR, the rating agency said.

According to Moody's, its E+ is underpinned by the bank's
developing corporate governance and risk controls, as well as
challenges to expand BRB's retail operation.  The rating is also
constrained by BRB's exposure to potential lending decisions
driven by political interests.  In recent history, former senior
management members were associated with negative news of political
nature which affected BRB's financial metrics, and added
volatility to the bank's performance.  Moreover, Moody's noted
that ratings could be affected negatively by an abrupt increase of
operating costs or in deterioration of asset quality as a
consequence of aggressive loan growth.

The bank's Ba3 global local-currency deposit rating derives from a
baseline credit assessment of B1 which receives one notch of
uplift reflecting Moody's assessment of a certain level of support
coming from its owner, the local government.  The rating agency
believes that support would be forthcoming to assist the bank's
deposit obligations, should stress occur, because of the bank's
role as payment agent for Federal District's public servants.  At
the same time, Moody's also assumes that BRB would receive no
systemic support because of its limited market share of deposits
relative to total deposits in the Brazilian system.

BRB is headquartered in Brasilia, Brazil.  As of December 2009,
BRB had total assets of R$6.6 billion (US$3.8 billion) and
shareholders' equity of R$581 million (US$334 million).

These ratings were assigned to BRB -- Banco de Brasilia S.A.:

* Bank financial strength rating: E+, stable outlook

* Long-term global local-currency deposit rating: Ba3, stable
  outlook

* Short-term global local-currency deposit rating: Not Prime

* Long-term foreign-currency deposit rating: Ba3, stable outlook

* Short-term foreign-currency deposit rating: Not Prime

* Long-term Brazilian national scale deposit ratings: A2.br,
  stable outlook

* Short-term Brazilian national scale deposit ratings: BR-1


COMPANHIA ENERGETICA: To Reveal 4Q2009 Results on March 24
----------------------------------------------------------
Companhia Energetica de Minas Gerais will hold its fourth quarter
2009 results video webcast and conference call on March 24, 2010
at 11:00 a.m. (Brasilia Time).

The call will be led by Company Chief Executive Officer Djalma
Bastos de Morais, jointly with Company Chief Financial Officer
Luiz Fernando Rolla, and Company Investor Relation Officer
Agostinho Faria Cardoso.

Interested participants can join through this link:

     http://www.mediatown.com.br/prnewswire/player/?id=190

Companhia Energetica de Minas Gerais a.k.a. Cemig --
http://www.cemig.com.br/-- is an electric energy utility in
Brazil.  Cemig's concession area extends throughout nearly 96.7%
of Minas Gerais.  Cemig owns and operates 52 power plants, of
which six are in partnership with private enterprises, relying
on a predominantly hydroelectric energy matrix.  Electric energy
is produced to supply more than 17 million people living in the
state's 774 municipalities.  In addition to those 52 plants,
another three are currently under construction.

Cemig is also active in several other states, through ventures
for the generation or the commercialization of energy in these
Brazilian states: in Santa Catarina (generation), Rio de Janeiro
(commercialization and generation), Espirito Santo (generation)
and Rio Grande do Sul (commercialization).

                           *     *     *

As of October 19, 2009, the company continues to carry Moody's Ba1
LC currency Issuer rating.


COMPANHIA ENERGETICA: Submits Explanation Letter to BM&F BOVESPA
----------------------------------------------------------------
Companhia Energetica de Minas Gerais has sent a letter to
BM&FBovespa regarding the reports that the company is in talks to
buy a transmission company.  BM&FBovespa requested explanations on
the press report in the newspaper Valor Economico of March 15,
2010, under the headline "Cemig negotiating to buy Spanish
transmission company" which states that Cemig is ". . . at an
advanced stage in negotiations to buy 6,000km of transmission
lines" from Plena Transmissora, and that ". . . it is making an
offer for the purchase of Ampla, a distribution company that
supplies electricity to 50% of the total area of Rio de Janeiro
state".

Cemig's letter to BM&FBovespa states:

     Dear Sirs:

     "In response to your request in BM&F Bovespa Official Letter
     GAE/CREM-356/1 of March 15, 2010, in respect of the press
     material referred to, reporting possible negotiations for
     purchase of the companies Ampla and Plena Transmissora, we
     inform you that, up to the present date, no related event has
     taken place that gives rise to disclosure.  Cemig, reflecting
     its respect for its stockholders and its adherence to best
     corporate governance practices, reiterates its commitment to
     the investor market to publish any material information, when
     it arises, even if in a preliminary form.

     We also reiterate the Company's commitment to the continuous
     quest for returns and addition of value for its stockholders,
     present in all our investments, whether acquisitions or new
     projects.  Belo Horizonte, March 16, 2010."

     Yours faithfully,
     Luiz Fernando Rolla
     Chief Officer for Finance, Investor Relations and
       Control of Holdings

                      About Cemig

Companhia Energetica de Minas Gerais a.k.a. Cemig --
http://www.cemig.com.br/-- is an electric energy utility in
Brazil.  Cemig's concession area extends throughout nearly 96.7%
of Minas Gerais.  Cemig owns and operates 52 power plants, of
which six are in partnership with private enterprises, relying
on a predominantly hydroelectric energy matrix.  Electric energy
is produced to supply more than 17 million people living in the
state's 774 municipalities.  In addition to those 52 plants,
another three are currently under construction.

Cemig is also active in several other states, through ventures
for the generation or the commercialization of energy in these
Brazilian states: in Santa Catarina (generation), Rio de Janeiro
(commercialization and generation), Espirito Santo (generation)
and Rio Grande do Sul (commercialization).

                           *     *     *

As of October 19, 2009, the company continues to carry Moody's Ba1
LC currency Issuer rating.


USINIMAS SIDERURGICA: Workers End 12-Day Strike in Brazil Unit
--------------------------------------------------------------
Carlos Caminada at Bloomberg News reports that Usinas Siderurgicas
de Minas Gerais SA's workers ended a 12-day strike at the
company's Taubate unit in southeastern Brazil.  The report relates
that the workers and the company's management will resume wage
talks.

The Taubate region's steelworkers union reported the end of the
strike in an e-mailed statement obtained by the news agency.

Headquartered in Minas Gerais, Brazil, Usinas Siderurgicas do
Minas Gerais S.A. aka Usiminas -- http://www.usiminas.com.br-- is
principally engaged in the steel industry.  The company has a
production capacity of 4.7 million tons of crude steel per annum.
The company produces non-coated steel (including slabs, heavy
plates, hot- and cold-rolled sheets and coils) and galvanized
sheets and coils.  The company provides its products to the
automotive, piping, building and electrical/electronic and
agricultural and road machinery industries.  In addition to its
core business operations, it is also involved in the
commercialization, import and export of raw materials, steel
products and by-products; the provision of project development and
research services; the provision of personnel training services,
and the provision of mining, transportation, construction and
technical assistance services.  The company's products are sold in
Brazil, as well as exported to other Latin American countries, the
United States, China and South Korea, among others.

                           *     *     *

As of June 19, 2009, the company continues to carry Moody's Ba1
Subordinate Debt rating.


USINIMAS SIDERURGICA: Receives Unified ISO 9001 Certification
-------------------------------------------------------------
Usinas Siderurgicas do Minas Gerais S.A. has just received a
unique certification, ISO9001: 2008 for both plants.  The company
is the first Brazilian ironworks company to be certified, in a
united manner, by the Norwegian agency, Det Norske Veritas (DNV).

This certification spotlights the integration of the quality
management of the company, referring to corporative process
(merchandising, logistics, technical support, marketing, supplies,
etc.), that is, it means Usiminas has standardized processes, no
matter the location.  "This integration in Usiminas processes
reinforces the pursuit for quality continuous improvement by our
management.  Moreover, it is aligned with our corporate values
that prioritize our customers' satisfaction", highlights the
Quality and Technical Support superintendent, Eduardo Cortes
Sarmento.

                     About Usinas Siderurgicas

Headquartered in Minas Gerais, Brazil, Usinas Siderurgicas do
Minas Gerais S.A. aka Usiminas -- http://www.usiminas.com.br-- is
principally engaged in the steel industry.  The company has a
production capacity of 4.7 million tons of crude steel per annum.
The company produces non-coated steel (including slabs, heavy
plates, hot- and cold-rolled sheets and coils) and galvanized
sheets and coils.  The company provides its products to the
automotive, piping, building and electrical/electronic and
agricultural and road machinery industries.  In addition to its
core business operations, it is also involved in the
commercialization, import and export of raw materials, steel
products and by-products; the provision of project development and
research services; the provision of personnel training services,
and the provision of mining, transportation, construction and
technical assistance services.  The company's products are sold in
Brazil, as well as exported to other Latin American countries, the
United States, China and South Korea, among others.

                           *     *     *

As of June 19, 2009, the company continues to carry Moody's Ba1
Subordinate Debt rating.


* BRAZIL: Analysts Lift 2011 CPI Outlook for Second Week
--------------------------------------------------------
Andre Soliani and Dominic Carey at Bloomberg News report that
analysts covering Brazil's economy raised their 2011 consumer
price forecast for a second straight week after policy makers kept
the benchmark interest rate unchanged March 17.

According to the report, citing the median forecast in a March 19
central bank survey, consumer prices will rise 4.70% next year,
compared with a week-earlier call of 4.60%.  The report relates
the survey showed that inflation will quicken to 5.10% this year,
up from a week earlier forecast of 5.03%.

Bloomberg News notes that economists expect policy makers to raise
the benchmark rate to 9.25% in April, the first increase since
September 2008, to rein in prices.  The report adds that the
central bank targets inflation of 4.5 percent, plus or minus two
percentage points.

                         *     *     *

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


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


ARLO VI: S&P Withdraws 'CCC-' Rating on Floating-Rate Notes
-----------------------------------------------------------
Standard & Poor's Ratings Services withdrew its 'CCC-' credit
rating on ARLO VI Ltd.'s ?100 million secured limited-recourse
floating-rate credit-linked notes series 2006 and ?50 million
secured limited-recourse floating-rate credit-linked notes series
2006.

The withdrawals follow Barclays Capital's (the arranger) recent
notification to us that the issuer had fully repurchased the notes
in September 2009.

ARLO VI series 2006 series 2006 are synthetic corporate
investment-grade collateralized debt obligation transactions.


BLACKHAWK REINSURANCE: Member to Hear Wind-Up Report on March 31
----------------------------------------------------------------
The member of Blackhawk Reinsurance SPC will receive on March 31,
2010, at 10:30 a.m., the liquidators' report on the company's
wind-up proceedings and property disposal.

The company's liquidators are:

         Damien Austin
         Audrey Dixon
         Telephone: 949-7580
         Facsimile: 949-6021
         P.O. Box 1109, Grand Cayman, Cayman Islands
         Telephone: 949-7755
         Facsimile: 949-6021


CHINA TIME: Placed Under Provisional Liquidation
------------------------------------------------
On February 4, 2010, the Grand Court of the Cayman Islands entered
an order to place China Time Share Media Co. Ltd under provisional
liquidation.

The company's liquidator is:

         Mr. Kenneth Krys
         Krys and Associates Cayman Ltd.
         Govenors Square, Building 6, 2nd Floor
         23 Lime Tree Bay Ave
         PO Box 31237, Grand Cayman KY1-1205
         Cayman Islands


COOPER MULTI-STRATEGY: Creditors' Proofs of Debt Due on March 25
----------------------------------------------------------------
The creditors of Cooper Multi-Strategy Fund Ltd. are required to
file their proofs of debt by March 25, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on January 28, 2010.

The company's liquidator is:

         Ogier
         c/o Michelle Richie
         Telephone: (345) 815 1755
         Facsimile: (345) 949-9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007, Cayman Islands


COOPER MULTI-STRATEGY: Member to Hear Wind-Up Report on March 25
----------------------------------------------------------------
The member of Cooper Multi-Strategy Fund Ltd. will receive on
March 25, 2010, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Ogier
         c/o Michelle Richie
         Telephone: (345) 815 7155
         Facsimile: (345) 949-9876


CREP INVESTMENT: Creditors' Proofs of Debt Due on April 1
---------------------------------------------------------
The creditors of Crep Investment C Cayman are required to file
their proofs of debt by April 1, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on February 8, 2010.

The company's liquidator is:

         Walkers SPV Limited
         c/o Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002, Cayman Islands


FAIRFIELD ARECA: Members to Hear Wind-Up Report on April 8
----------------------------------------------------------
The members of Fairfield Areca Asian Equity Fund Ltd will receive
on April 8, 2010, at 10:00 a.m., the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Ian Stokoe
         c/o Sarah Moxam
         Telephone: (345) 914 8634
         Facsimile: (345) 945 4237
         PO Box 258, Grand Cayman KY1-1104
         Cayman Islands


FAIRFIELD BARON: Members to Hear Wind-Up Report on April 8
----------------------------------------------------------
The members of Fairfield Baron Absolute Return Fund Ltd will
receive on April 8, 2010, at 10:15 a.m., the liquidator's report
on the company's wind-up proceedings and property disposal.

The company's liquidator is:

         Ian Stokoe
         c/o Sarah Moxam
         Telephone: (345) 914 8634
         Facsimile: (345) 945 4237
         PO Box 258, Grand Cayman KY1-1104
         Cayman Islands


FAIRFIELD MT: Members to Hear Wind-Up Report on April 8
-------------------------------------------------------
The members of Fairfield MT Japan Long-Short Fund Ltd will receive
on April 8, 2010, at 10:30 a.m., the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Ian Stokoe
         c/o Sarah Moxam
         Telephone: (345) 914 8634
         Facsimile: (345) 945 4237
         PO Box 258, Grand Cayman KY1-1104
         Cayman Islands


FAIRFIELD PARABOLIC: Members to Hear Wind-Up Report on April 8
--------------------------------------------------------------
The members of Fairfield Parabolic Partners Fund Ltd will receive
on April 8, 2010, at 10:45 a.m., the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Ian Stokoe
         c/o Sarah Moxam
         Telephone: (345) 914 8634
         Facsimile: (345) 945 4237
         PO Box 258, Grand Cayman KY1-1104
         Cayman Islands


FINIA LIMITED: Commences Liquidation Proceedings
------------------------------------------------
Finia Limited commenced liquidation proceedings on January 21,
2010.

The company's liquidator is:

         UBS Nominees Limited
         c/o Alan G. de Saram
         Telephone: 949-4544
         Facsimile: 949-8460
         Charles Adams Ritchie & Duckworth
         Zephyr House, 122 Mary Street
         PO Box 709, Grand Cayman KY1-1107
         Cayman Islands


GRAPHITE INVESTMENTS: Commences Wind-Up Proceedings
---------------------------------------------------
At an extraordinary general meeting held on January 26, 2010, the
shareholders of Graphite Investments Limited resolved to
voluntarily wind up the company's operations.

The company's liquidator is:

         Raymond E. Whittaker
         FCM Ltd.
         Governor's Square, Ground Floor
         West Bay Road, PO Box 1982
         Grand Cayman KY-1104, Cayman Islands


IRIS INVESTMENTS: Commences Liquidation Proceedings
---------------------------------------------------
Iris Investments Ltd. commenced liquidation proceedings on
January 5, 2010.

The company's liquidator is:

         UBS Nominees Ltd.
         Stephen R. Nelson
         Telephone: 949-4544
         Facsimile: 949-8460
         Charles Adams Ritchie & Duckworth
         Zephyr House, 122 Mary Street
         PO Box 709, Grand Cayman KY1-1107
         Cayman Islands


JAMURI LTD: Commences Liquidation Proceedings
---------------------------------------------
Jamuri Ltd. commenced liquidation proceedings on January 21, 2010.

The company's liquidator is:

         UBS Nominees Limited
         c/o Alan G. de Saram
         Telephone: 949-4544
         Facsimile: 949-8460
         Charles Adams Ritchie & Duckworth
         Zephyr House, 122 Mary Street
         PO Box 709, Grand Cayman KY1-1107
         Cayman Islands


LADY MICHELLE: Shareholder to Hear Wind-Up Report on April 1
------------------------------------------------------------
The shareholder of Lady Michelle Marine Limited will receive on
April 1, 2010, at 10:00 a.m., the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Miguel B. Fernandez
         121 Alhambra Plaza
         Coral Gables, Suite 1100
         FL 331345, USA
         Telephone: 305-476-5155
         Facsimile: 305-461-4999


LEHMAN BROTHERS: Shareholder to Receive Wind-Up Report on March 31
------------------------------------------------------------------
The shareholder of Lehman Brothers Global Bond Fund, (Offshore)
Ltd will receive on March 31, 2010, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Ogier
         c/o Phil Hughes
         Telephone: (345) 815 1402
         Facsimile: (345) 949-1986


LINCOLN FINANCIAL: Shareholders to Hear Wind-Up Report on April 1
-----------------------------------------------------------------
The shareholders of Lincoln Financial Co. will receive on April 1,
2010, at 10:00 a.m., the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

         Campbell Directors Limited
         Scotia Centre, 4th Floor
         PO Box 268
         Grand Cayman KY1-1104
         Cayman Islands
         Telephone: 345 949 6258
         Facsimile: 345 945 2877


MILLICENT LTD: Commences Liquidation Proceedings
------------------------------------------------
Millicent Ltd. commenced liquidation proceedings on January 21,
2010.

The company's liquidator is:

         UBS Nominees Limited
         c/o Alan G. de Saram
         Telephone: 949-4544
         Facsimile: 949-8460
         Charles Adams Ritchie & Duckworth
         Zephyr House, 122 Mary Street
         PO Box 709, Grand Cayman KY1-1107
         Cayman Islands


NEBO LIMITED: Commences Liquidation Proceedings
-----------------------------------------------
Nebo Limited commenced liquidation proceedings on January 21,
2010.

The company's liquidator is:

         UBS Nominees Limited
         c/o Alan G. de Saram
         Telephone: 949-4544
         Facsimile: 949-8460
         Charles Adams Ritchie & Duckworth
         Zephyr House, 122 Mary Street
         PO Box 709, Grand Cayman KY1-1107
         Cayman Islands


MODERN CAPITAL: Commences Wind-Up Proceedings
---------------------------------------------
Modern Capital Master Fund Ltd. commenced wind-up proceedings on
December 30, 2009.

Creditors are required to file their proofs of debt to be included
in the company's dividend distribution.

The company's liquidator is:

         Modern Capital Management LLC
         22 Petersville Road, Mt. Kisco Road
         New York 10549, USA


MODERN CAPITAL: Commences Wind-Up Proceedings
---------------------------------------------
Modern Capital Fund Ltd. commenced wind-up proceedings on
December 30, 2009.

Creditors are required to file their proofs of debt to be included
in the company's dividend distribution.

The company's liquidator is:

         Modern Capital Management LLC
         22 Petersville Road, Mt. Kisco Road
         New York 10549, USA


PLATYPUS ASIAN: Members to Hear Wind-Up Report on March 29
----------------------------------------------------------
The members of Platypus Asian Equities Fund SPC will receive on
March 29, 2010, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         CDL Company Ltd.
         P.O. Box 31106, Grand Cayman KY1-1205


ROBINIA INVESTMENTS: Commences Wind-Up Proceedings
----------------------------------------------------
At an extraordinary general meeting held on January 26, 2010, the
shareholders of Robinia Investments Limited resolved to
voluntarily wind up the company's operations.

The company's liquidator is:

         Raymond E. Whittaker
         FCM Ltd.
         Governor's Square, Ground Floor
         West Bay Road, PO Box 1982
         Grand Cayman KY-1104, Cayman Islands


RUSSIAN OPPORTUNITIES: Commences Liquidation Proceedings
--------------------------------------------------------
Russian Opportunities Fund commenced liquidation proceedings on
December 29, 2009.

Creditors are required to file their proofs of debt to be included
in the company's dividend distribution.

The company's liquidator is:

         Eric Berthelot
         c/o Maples and Calder, Attorneys-at-law
         PO Box 309, Ugland House
         Grand Cayman KY1-1104, Cayman Islands


SHACKLETON RE: Shareholder to Hear Wind-Up Report on March 31
-------------------------------------------------------------
The shareholder of Shackleton Re Limited will receive on March 31,
2010, at 10:30 a.m., the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidators are:

         Damien Austin
         Audrey Dixon
         Telephone: 949-7580
         Facsimile: 949-6021
         P.O. Box 1109, Grand Cayman, Cayman Islands
         Telephone: 949-7755
         Facsimile: 949-6021


SPROUT GROWTH: Shareholders to Receive Wind-Up Report on May 26
---------------------------------------------------------------
The shareholders of Sprout Growth, Ltd. will receive on May 26,
2010, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

         Royhaven Secretaries Limited
         c/o Hewitson Watler
         Telephone: 945-4777
         Facsimile: 945-4799
         c/o PO Box 707, Grand Cayman KY1-1107
         Telephone: 945-4777
         Facsimile: 945-4799


STAPLES INVESTMENTS: Commences Wind-Up Proceedings
--------------------------------------------------
On January 11, 2010, the sole shareholder of Staples Investments
Ltd passed a resolution that voluntarily winds up the company's
operations.

The company's liquidators are:

         Baird One Limited
         Boyne Limited
         Ansbacher House
         P.O. Box N-7768, Nassau, Bahamas


THAMES RIVER: Members to Receive Wind-Up Report on March 26
-----------------------------------------------------------
The members of Thames River 1X Currency Alpha Fund Limited will
receive on March 26, 2010, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Ian Stokoe
         c/o Sarah Moxam
         Telephone: (345) 914 8634
         Facsimile: (345) 945 4237
         PO Box 258, Grand Cayman KY1-1104
         Cayman Islands


THAMES RIVER: Members to Receive Wind-Up Report on March 26
-----------------------------------------------------------
The members of Thames River 2X Currency Alpha Fund Limited will
receive on March 26, 2010, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Ian Stokoe
         c/o Sarah Moxam
         Telephone: (345) 914 8634
         Facsimile: (345) 945 4237
         PO Box 258, Grand Cayman KY1-1104
         Cayman Islands


TORMENTIL INVESTMENTS: Commences Wind-Up Proceedings
----------------------------------------------------
At an extraordinary general meeting held on January 26, 2010, the
shareholders of Tormentil Investments Limited resolved to
voluntarily wind up the company's operations.

The company's liquidator is:

         Raymond E. Whittaker
         FCM Ltd.
         Governor's Square, Ground Floor
         West Bay Road, PO Box 1982
         Grand Cayman KY-1104, Cayman Islands


TRITONIA INVESTMENTS: Commences Wind-Up Proceedings
---------------------------------------------------
At an extraordinary general meeting held on January 26, 2010, the
shareholders of Tritonia Investments Limited resolved to
voluntarily wind up the company's operations.

The company's liquidator is:

         Raymond E. Whittaker
         FCM Ltd.
         Governor's Square, Ground Floor
         West Bay Road, PO Box 1982
         Grand Cayman KY-1104, Cayman Islands


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


* CHILE: May Raise Mining Taxes to Fund Reconstruction
------------------------------------------------------
Chile may increase taxes on mining companies to help pay for
reconstruction after last month's earthquake, Matt Craze and
Rodrigo Orihuela at Bloomberg News report, citing Deputy Finance
Minister Rodrigo Alvarez.  The report relates Mr. Alvarez told
Radio AND that the government of Sebastian Pinera is considering
changes to mining taxes among other measures such as raising debt
externally after last month's 8.8-magnitude earthquake damaged
infrastructure and buildings.

According to the report, Chile's Mining Council, which represents
mining companies, said that the tax increase may discourage
planned investments of US$22.1 billion over the next five years.
The report relates Finance Minister Felipe Larrain said that
higher taxes will not be the "centerpiece" of reconstruction
funding and any increase would be "moderate."  The government will
also tap its US$11.3 billion copper savings fund, Mr. Larrain
added.

Mr. Larrain, the report notes, said that reconstruction costs are
estimated at US$30 billion.  Economist Paul Fontaine presented a
study to Chile's government that included proposals such as an
increase in mining royalties to 8%, from between 4 and 5%
currently, Mr. Larrain told Bloomberg News in an interview.

"The government would earn about US$500 million a year," if the
law is passed, the report quoted Mr. Fontaine as saying.  "If
mining companies agree to pay higher royalties, their contracts
would be extended until 2040, which increases business stability,"
Mr. Fontaine added.

Mr. Fontaine, the report notes, said that companies that don't
agree to pay higher taxes would have to renegotiate levies in a
few years and "may end up paying as much as three times more than
they pay now."

The council, Bloomberg News adds, said that mining companies paid
US$24.8 billion in taxes over the past five years, more than any
other industry.


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


AIR JAMAICA: Lays Off 10 Pilots and 100 Flight Attendants
---------------------------------------------------------
Dionne Rose at Jamaica Gleaner reports that Air Jamaica Limited
laid off 10 pilots and 100 flight attendants.  The report relates
that union representatives said that the cuts were expected and
not directly associated with the pending deal with Caribbean
Airlines Limited.

According to the report, Kavan Gayle, president of the Bustamante
Industrial Trade Union, said that the redundancy was linked to the
cut in routes, which was announced last month.  The report relates
Mr. Gayle said the cuts were not a surprise because they were
included in the company's business plans.

The report says that the government said it will be paying out
US$300 million (JM$27 billion), in redundancy payments as a
result.  Mr. Gayle, the report notes, said that some of the staff
is expected to be re-employed by Caribbean Airlines; and the 110
workers laid off would get their severance pay on April 12,
alongside the other staff.

Meanwhile, the report relates that Mr. Gayle is also insisting
that all outstanding payments to the National Housing Trust and
National Insurance Scheme owed by the airline be paid over to the
statutory agencies ahead of the winding up of the airline.  "We
are demanding that those payments must be brought in line. The
contributions taken from the workers and also the employer's
contribution must be brought in line before the closure," the
report quoted Mr. Gayle as saying.

As reported in the Troubled Company Reporter-Latin America on
March 5, 2010, Gleaner Power 106 said that Air Jamaica Limited's
management has indicated a proposed date for the redundancy of all
employee positions at the airline.  The report related that in a
memorandum to the staff, Airline President Bruce Nobles told the
employees that the Air Jamaica management is working with
Caribbean Airlines towards a major schedule change on April 12.

                          About Air Jamaica

Headquartered in Kingston, Jamaica, Air Jamaica Limited --
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 owned 25% of the company after it went private
in 1994.  However, in late 2004, the government assumed full
ownership of the airline after an investor group turned over its
75% stake.  The Jamaican government does not plan to own Air
Jamaica permanently.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
January 27, 2010, Moody's Investors Service changed the ratings
outlook of Air Jamaica Limited to stable.  The Corporate Family
and senior unsecured ratings of Air Jamaica are affirmed at Caa1.
The change in outlook mirrors the change of the outlook of the
foreign currency bond rating of The Government of Jamaica to
stable, which occurred on January 22, 2010.  The ratings reflect
Jamaica's unconditional and irrevocable guarantee of the rated
debt obligations of Air Jamaica.  The foreign currency bond rating
of Jamaica remains Caa1, notwithstanding the January 22, 2010
downgrade of Jamaica's local currency bond rating by Moody's to
Caa2.

As reported in the TCR-LA on November 5, 2009, Standard & Poor's
Ratings Services said that it lowered its long-term corporate
credit rating on Air Jamaica Ltd. to 'CCC' from 'CCC+'.  The
outlook is negative.


DOMINO'S PIZZA: Wisynco Foods to Open Outlet in Bogue
-----------------------------------------------------
Wisynco Foods Limited in June will open a Domino's Pizza outlet in
Bogue, Montego Bay, its ninth branch on the island, as part of its
commitment to enhancing customer service in Jamaica, Jamaica
Observer reports.  "At Wisynco Foods Limited, we are committed to
our mission of exceptional franchisees and team members on a
mission to be the best pizza delivery company in the world," the
report quoted Steven Lim, director at Partner Foods Limited, as
saying in a press release.

Wisynco, who is an operator of Domino's Pizza, earlier this year,
opened a Domino's store on Hope Road.

Founded in 1960, Ann Arbor, Michigan-based Domino's Pizza, Inc.
(NYSE: DPZ) -- http://www.dominos.com/-- is the recognized world
leader in pizza delivery.  Through its primarily locally owned and
operated franchised system, Domino's operates a network of 8,886
franchised and Company-owned stores in the United States and over
60 international markets.  The Domino's Pizza((R)) brand, named a
Megabrand by Advertising Age magazine, had global retail sales of
over US$5.5 billion in 2008, comprised of nearly US$3.1 billion
domestically and over US$2.4 billion internationally.  During the
third quarter of 2009, the Domino's Pizza((R)) brand had global
retail sales of over US$1.2 billion, comprised of over US$672
million domestically and over US$570 million internationally.

As of September 6, 2009, the Company had US$443.7 million in total
assets against US$156.9 million in total current liabilities and
US$1.636 billion in total long-term liabilities, resulting in
US$1.350 billion in stockholders' deficit.


* JAMAICA: Government Debt Ballooning
-------------------------------------
Jamaica's opposition committee said that the buildup of arrears on
the government's books has started to impair the state's
credibility in the eyes of critical creditors, Radiojamaica
reports.  The report relates Dr. Omar Davies, Spokesman on
Finance, the ballooning debt that the government is shouldering
brings into sharp focus the need for a clear plan of action to
clear outstanding arrears.

According to the report, Dr. Davies pointed out that the
government's credibility is being tarnished as its debts gallop
out of control.   "It's important because it's not good when the
state looses credibility as a debtor or a credit starts worrying
as to whether they should extend credit and it's not just the big
creditors, so there is the issue of the size of the arrears," the
report quoted Dr. Davies as saying.

Radiojamaica notes that Finance Minister Audley Shaw agreed with
his Opposition counterpart about the need to fulfil obligations to
critical debtors such as NSWMA contractors.  "What we have to do
is make sure there is adequate provision from upfront because it's
one of these inescapable recurrent items that we have to ensure is
accommodated," the report quoted Mr. Shaw as saying.

                         *     *     *

As reported in the Troubled Company Reporter-Latin America on
January 18, 2010, Moody's Investors Service disclosed that it
considers Jamaica's debt exchange proposal for domestic creditors
as an event of default.  As reflected in the nation's current
sovereign ratings of Caa1, with a negative outlook, on both
domestic and foreign currency debt, Moody's had anticipated that
Jamaica's long-standing commitment to honor its obligations in
full and on schedule might finally break this year.


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


AGUAS DEL MUNICIPIO: Moody's Upgrades Issuer Rating to 'Ba3'
------------------------------------------------------------
Moody's de Mexico upgraded the issuer rating of the water company
Aguas del Municipio de Durango to Baa1.mx (Mexico National Scale)
from Baa2.mx.  Moody's Investors Service upgraded the issuer
rating of AMD to Ba3 (Global Scale, local currency) from B1.  The
rating outlook is stable.

Moody's notes that notwithstanding a relatively rigid budgetary
structure and lingering cost pressures, AMD has recorded positive
consolidated financial results in recent years, which has reduced
borrowing requirements and supported a strengthening of the water
company's liquidity position, albeit from a low base.

Between 2004 and 2008, AMD recorded cash financing surpluses that
averaged 4.3% of total revenues, reflecting a high level of
earmarked capital transfers and comparatively robust fee
collection rates that offset operating cost pressures.

As a result of these cash financing surpluses, the stock of debt
has remained stable in recent years, while net working capital
(current assets less current liabilities) increased from -0.6% of
total revenues in 2004 to 10% in 2008, which has helped AMD face
the current challenging economic environment.

Going forward, AMD's capacity to manage its ambitious capital
program, and obtain further transfers earmarked for capital
projects, will be key to future fiscal outcomes.  Furthermore,
Moody's will monitor the evolution of AMD's multi-phase plan to
switch from a cost intensive well system to an above ground water
supply system, which would ease pressure on AMD's cost structure.
Given that this project is expected to be financed by higher
levels of government over the medium term, its completion may
potentially exert further upward pressure on AMD's ratings.

The last rating action with respect to AMD was taken on June 30,
2005, when Moody's upgraded issuer ratings to B1/Baa2.mx from
B2/Baa3.mx.


CAPMARK FINANCIAL: Wants to Sell Investments in Mexican Markets
---------------------------------------------------------------
Capmark Financial Group Inc. and its units seek the Court's
authority to sell certain transferred interests to TESEFA, S.A. de
C.V., a Sociedad Anonima de Capital Variable organized under the
laws of Mexico, or to a successful bidder, free and clear of any
and all liens, claims, encumbrances and interests.

Capmark Financial Group Inc., Capmark Finance Inc. and non-debtor
Capmark Mexico, S. de R.L. de C.V., a Sociedad de Responsabilidad
Limitada de Capital Variable organized under the laws of Mexico,
an affiliate of CFGI, have historically invested in Mexican non-
performing loans.  The Sellers' equity and debt interests in
certain special purpose entities that own Mexican non-performing
loans are the subject of the proposed sale.

Jason M. Madron, Esq., at Richards, Layton & Finger, P.A., in
Wilmington, Delaware, relates that the non-performing loan assets
held by the Sellers through the Transferred Interests are
illiquid and risky by nature.  Mr. Madron adds that the non-
performing loans have uncertain cash flows and require
significant oversight by the servicer of the assets.  He further
notes that the equity interests in the joint venture special
purpose entities are subject to transfer restrictions which
prohibit the transfer of the Seller's interest without the
consent of the joint venture partners or otherwise grant the
joint venture partners rights of first refusal to acquire the
Sellers' interests.

Given the Debtors' decision to withdraw from the Mexican market,
the depreciating value of the Transferred Interests and the
Debtors' unwillingness to devote the necessary resources to
maintain value in the Debtor-Sellers' Transferred Interests, the
Debtors do not believe the assets are viable component of their
anticipated reorganization, Mr. Madron tells the Court.  As a
result, the Debtors desire to sell the Debtor-Sellers'
Transferred Interests, and non-debtor Capmark Mexico desires to
sell its portion of the Transferred Interests, to any party or
parties offering the highest or best offer.

            Proposed Sale of the Transferred Assets

The Sellers, Buyer, and Promecap S.A. de C.V., a Sociedad Anonima
de Capital Variable organized under the laws of Mexico, Odisea
Asset Management, LLC, a Delaware limited liability company, have
entered into a purchase agreement, dated as of February 4, 2010,
whereby TESEFA has agreed to purchase from the Sellers these
assets, which comprise the Transferred Assets:

  (a) Capmark Activos I, S. de R.L. de C.V.; (i) the outstanding
      debt of Capmark Activos I issued in favor of CFI, (ii) the
      outstanding debt of Capmark Activos I issued in favor of
      Capmark Mexico, and (iii) 2 Social Parts owned by Capmark
      Mexico and CFI, together representing 100% of the
      outstanding capital stock of Capmark Activos I;

  (b) Capmark Activos III, S. de R.L. de C.V.: 1 Social Part
      owned by CFI and 1 Social Part owned by Capmark Mexico,
      together representing 100% of the outstanding capital
      stock of Capmark Activos III;

  (c) COEFACT, S.A. de C.V.: (i) 25,000 series "A" shares, (ii)
      6,975,000 series "B" shares of COEFAT owned by Capmark
      Mexico, together representing 50% of the outstanding stock
      of COEFACT; and (iii) all rights and obligation of Capmark
      Mexico under the Shareholders' Agreement dated as of March
      19, 2004, between Capmark Mexico and UBS AG;

  (d) LLM Inversiones I, S.A. de C.V.:(i) unsecured debentures
      of LLM Inversiones I issued by Lend Lease Equities, S.A.
      de C.V. and held by Capmark Mexico, and (ii) all rights
      and obligations of Capmark Mexico and CFI under the
      Assignment and Assumption of Rights and Payment Agreement,
      dated as of December 10, 2003, among Lend Lease Equities,
      S.A. de C.V., Capmark Mexico, and CFI;

  (e) LLM Inversiones II, S.A., de C.V.: (i) 50,000 series "A"
      shares of LLM Inversiones II and (ii) 924,675 series "B"
      shares owned by Capmark Mexico, together representing 50%
      of the outstanding capital stock of LLM Inversiones II,
      and (iii) all rights and obligations of Capmark Mexico
      under the Shareholders' Agreement dated as of December 15,
      2002, among ML IBK Positions Inc., Lend Lease Equities,
      S.A. de C.V., and LL Inversiones II;

  (f) Recuperadora de Deuda Hipotecaria, S. de R.L. de C.V.: 1
      Social Part of the RDH Pool owned by CFGI, representing
      40% of the outstanding capital stock of the RDH Pool, and
      (ii) all rights and obligations of CFI under the Amended
      and Restated Shareholders Agreement dated as of January
      18, 2006, among CFI, CIGPF I Corp., and UBS AG;

  (g) VPN Plus, S. de R.L. de C.V.: (i) 1 Social Part of VPN
      Plus I owned by CFGI, representing 50% of the outstanding
      capital stock of VPN Plus I, and (ii) all rights and
      obligations of CFI under the Shareholders Agreement dated
      as of September 8, 2005, among CFI and CIGPF I Corp.;

  (h) VPN Plus II, S. de R.L. de C.V.: (i) 1 Social Part of VPN
      Plus II owned by CFGI, representing 50% of the outstanding
      capital stock of VPN Plus II; and (ii) all rights and
      obligations of CFI under the Shareholders Agreement dated
      as of September 29, 2005, among CFI and CIGPF I Corp.;

  (i) The Zendere Note: (i) obligations and rights related to
      the Stock Purchase Agreement entered into by and among
      Zendere I, Corporativo Zendere I, CFGI, Capmark Mexico,
      and the Principals named in the Stock Purchase Agreement
      dated as of November 15, 2007, and (ii) the obligations
      and rights related to the Stock Pledge Agreement entered
      into by and among Zendere I and Corporativo Zendere I as
      Pledgors and Capmark as Pledgee, dated as of December 7,
      2007; and

  (j) all contracts relating to the Transferred Interests.

The principal terms of the Sale Agreement are:

Purchase Price: $17,158,555, subject to certain upward or
               downward adjustments.  Approximately $15 million
               of the proposed Purchase Price will be allocated
               to CFGI and CFI.

Break-Up Fee: Equal to the sum of:

              (a) the reasonable out-of-pocket expenses of Buyer
                  in connection with the negotiation, execution
                  and performance of the letter of intent and
                  the Sale Agreement, not to exceed $100,000
                  in the aggregate; and

              (b) 2% of the aggregate Base Purchase Price
                  allocated to the Transferred Interests sold to
                  that Successful Bidder or Successful Bidders.

In no event will the Break-Up Fee be payable to the Buyer if the
closing of the Alternative Transaction does not occur within six
months of the date of the execution of the Sale Agreement.

A full-text copy of the Sale Agreement is available for free at:

    http://bankrupt.com/misc/Capmark_RevSaleAgmtTESEFA.pdf

              Bidding Procedures and the Auction

Pursuant to court-approved bidding procedures, the Debtors will
conduct a competitive bidding process for the sale of the
Transferred Interests pursuant to the Sale Agreement, subject to
higher or better offers.

Any person interested person or entity participating in the
Auction must submit a qualifying bid on or before March 22, 2010,
at 2:00 p.m.

To participate in the bidding process and be deemed a Qualifying
Bidder, each potential bidder must submit a Qualifying Bid by the
Bid Deadline.

If an Auction is conducted where the Debtors do not permit
separate bids for the individual Transferred Interests and one
Qualifying Bidder submits the highest or best Qualifying Bid for
all of the Transferred Interests, the Qualifying Bidder with the
next highest or otherwise best Qualifying Bid for all of the
Transferred Interests will be required to serve as back-up
bidder.

The Court will hold a Sale Hearing on April 5, 2010.

A full-text copy of the Court's Bidding Procedures Order is
available for free at:

http://bankrupt.com/misc/Capmark_OrdAuctionTransferredInt.pdf

               Contracts Assumption and Assignment

To facilitate the Sale and the assumption and assignment of the
Assigned Contracts, the Debtors notified parties-in-interest on
February 26, 2010, that they intend to assume and assign certain
executory contracts in connection with the proposed sale.  The
Debtors did not provide a list of the contracts.

                        Objection Deadline

The Debtors request that objections, if any, to the Sale or an
Assumption or Cure Objection be filed on or before March 25,
2010.

            Debtors File Proposed Supplemental Order

The Debtors relate in a certification of counsel that subsequent
to the entry of the Bidding Procedures Order, they have completed
all of the service requirements except that the known nondebtor
parties to the Assigned Contracts were served with the complete
Notice of Assumption and Assignment within six, rather than five,
business days following the entry of the Bidding Procedures
Order.

Consequently, the Debtors prepared a form of supplemental order
which extends their time to complete service of Notice of
Assumption and Assignment upon all known nondebtor parties
through March 1, 2010.

Judge Sontchi signed the Supplemental Order on March 11, 2010.

                      About Capmark Financial

Based in Horsham, Pennsylvania, Capmark Financial Group Inc. --
http://www.capmark.com/-- is a diversified company that provides
a broad range of financial services to investors in commercial
real estate-related assets.  Capmark has three core businesses:
lending and mortgage banking, investments and funds management,
and servicing.  Capmark operates in North America, Europe and
Asia.  Capmark has 1,000 employees located in 37 offices
worldwide.

On October 25, 2009, Capmark Financial Group Inc. and certain of
its subsidiaries filed voluntary petitions for relief under
Chapter 11 (Bankr. D. Del. Case No. 09-13684)

Capmark's financial advisors are Lazard Freres & Co. LLC and
Loughlin Meghji + Company. Capmark's bankruptcy counsel is Dewey &
LeBoeuf LLP.  Richards, Layton & Finger, P.A. serves as local
counsel.  Beekman Advisors, Inc., is serving as strategic advisor.
KPMG LLP is tax and accounting advisor.  Epiq Bankruptcy
Solutions, LLC, is the claims and notice agent.

Capmark has total assets of US$20 billion against total debts of
US$21 billion as of June 30, 2009.

Bankruptcy Creditors' Service, Inc., publishes Capmark Financial
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Capmark Financial Group Inc. and its units.
(http://bankrupt.com/newsstand/or 215/945-7000)


FORD CREDIT: Moody's Raises National Scale Debt Rating From 'Ba1'
-----------------------------------------------------------------
Moody's de Mexico upgraded Ford Credit de Mexico S.A. de C.V.,
SOFOM E.N.R.'s long-term Mexican National Scale debt rating to
Baa2.mx, on review for possible upgrade, from Ba1.mx.  At the same
time, Moody's upgraded the short-term Mexican National Scale debt
rating to MX-3 from MX-4.

The ratings upgrade follows Moody's rating action on parent
company Ford Motor Credit Company LLC's rating -- senior unsecured
rating upgraded to B1 from B2, on review for further possible
upgrade.  For further detail on this rating action, refer to
Moody's press release "Moody's upgrades Ford Motor and Ford
Credit; both on review for further upgrade", dated March 17, 2010.

Ford Credit de Mexico's debt ratings are based on an irrevocable
and unconditional guarantee provided by Ford Motor Credit Company
LLC.

The last rating action taken on Ford Credit de Mexico was on
March 5, 2010, when Moody's de Mexico Upgraded the NSR long-term
rating to Ba1.mx, stable, from B1.mx, RUR up; and affirmed the
short-term NSR of MX-4.

The long-term Mexican National Scale rating of Baa2.mx indicates
issuers or issues with an average creditworthiness relative to
other domestic issuers.  The short-term Mexican National Scale
rating of MX-3 indicates that issuer has an average ability to
repay short-term senior unsecured debt obligations relative to
other domestic issuers.

These ratings actions were taken on Ford Credit de Mexico, S.A. de
C.V. SOFOM E.N.R.:

* Mexican National Scale long-term debt rating: Upgraded to
  Baa2.mx from Ba1.mx, on review for possible upgrade.

* Mexican National Scale short-term debt rating: Upgraded to MX-3
  from MX-4


* MEXICO: Economy May Grow 4% to 5%, Carstens Says
--------------------------------------------------
Mexico's central bank increased its 2010 growth forecast to as
much as 5% as a recovery in manufacturing fuels exports and the
economy adds more jobs, Jens Erik Gould and Andres R. Martinez at
Bloomberg News report, citing Governor Agustin Carstens.

According to the report, Deputy Finance Minister Alejandro Werner
said that Mexico's industrial production may grow 6% this year and
the increase in jobs may be 2.5%.  "We are in a strong recovery
process," the report quoted Mr. Carstens as saying.  "It's very
likely Mexico will end up growing between 4 and 5%," he added.

Bloomberg News notes that Mexico's gross domestic product shrunk
6.5% last year as oil revenue, foreign direct investment and
exports dropped because of the global financial crisis.  Finance
Minister Ernesto Cordero told Bloomberg News in an interview that
the government will probably raise its economic growth forecast
for this year from 3.9% in four to five weeks.


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


BANCO INTERNACIONAL: Fitch Assigns 'BB' Support Rating Floor
------------------------------------------------------------
Fitch Ratings has assigned these initial ratings to Banco
Internacional del Peru:

  -- Foreign Currency Long-Term Issuer Default Rating of 'BBB-';
  -- Foreign Currency Short-Term IDR of 'F3';
  -- Local Currency Long-Term IDR of 'BBB-';
  -- Local Currency Short-Term IDR of 'F3';
  -- Individual Rating of 'C';
  -- Support Rating of '3';
  -- Support Floor of 'BB'.

The Rating Outlook is Stable.

Interbank's ratings reflect its sound retail franchise, focused
strategy, very good asset quality, adequate reserves and solid
profitability through the global crisis.  They also factor in the
riskier profile of its portfolio, deposit concentration and below
average but improved capitalization.

The bank's Support Floor is indicative of its systemic importance.
Being the second largest Peruvian controlled bank, Fitch believes
that there would be a strong propensity for support from the
government, should it be required.  Peru's ability to provide such
support is deemed moderate and reflected in its 'BBB-' Sovereign
rating.

Interbank's IDRs could be upgraded by Fitch if the bank
strengthens its capital levels while continuing to grow,
maintaining an adequate performance, good asset quality, and
diversifying its funding sources.  A rapid deterioration of asset
quality that would increase provisions and stress capital and
reserves could put pressure on Interbank's ratings.

Interbank's performance in 2008 and 2009 was driven by higher loan
volumes, resilient margins and improved cross-selling.  Operating
revenues have benefited from the significant growth of the last
few years while the expanded network and larger customer base
boosted non-interest revenues but also operating costs; however,
efficiency improved.  The sound growth of the bank's corporate
lending has added welcome diversification to its assets and
revenues.  Reversing the trend of the past few years, loan loss
provisions increased since 2007 reflecting larger loan volumes,
tighter provision requirements and the impact of the economic
slowdown on asset quality.  Nevertheless, profitability has
improved, reaching historical highs with a return on average
equity (ROAE) of 37% and a return on average assets of 2.8% at
December 2009.

Deposits are wide-based albeit carrying a somewhat higher cost
than they do for its larger competitors and being more
concentrated.  Asset quality declined slightly -- driven mainly by
credit cards and personal loans -- but remains slightly better
than the industry average and is adequately covered by reserves.
Capital ratios improved from 2008 levels but remain below the
industry average; Fitch expects that the bank will sustain its
current capital levels in the medium term.

Interbank's loan portfolio growth should accelerate in 2010 as the
bank exploits the opportunities created by the positive economic
backdrop.  Loans are expected to grow 15%-20% and should
compensate for the expected increase in interest rates and ensuing
pressure on margins.  Continued expansion into retail should
underpin margins while non-interest revenues should continue
growing.  Operating costs are expected to grow at a lower pace; on
the other hand, loan loss provisions should continue pressuring
profitability that may decline from 2009's record levels but
should remain comfortably above 20% (ROAE) and 2% (ROAA).

Interbank is a medium-sized Peruvian bank, fourth in a highly
concentrated market with a market share of about 11.2% by assets.
A universal bank with a clear bias toward retail banking,
Interbank is a top contender in each retail segment and boasts the
country's largest ATM network.  Interbank is controlled by a well-
regarded local group.


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


FIRSTBANK PUERTO RICO: Wins US$10.2MM Foreclosure Suit
------------------------------------------------------
FirstBank Puerto Rico won a US$10.2 million foreclosure judgment
on March 15 against Verona Park LLC, South Florida Business
Journal reports, citing Miami-Dade County Circuit Court records.

According to the report, Miami-based Development International
Group Equity Corp. manages the developer.

The report notes that the uncompleted 19-unit condo, at 107
Mendoza Ave., is scheduled for auction May 17 on the county's Web
site.

The report recalls that after buying the property for US$2.6
million in 2005, Verona Park obtained a US$1.6 million mortgage
from FirstBank.  The report relates that future advances increased
the mortgage to US$7.7 million in June 2008.  The bank filed for
foreclosure in March 2009.

                  About FirstBank Puerto Rico

FirstBank Puerto Rico is a full-service bank.  The bak accepts
deposits, make loans and provides other servies for the public.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
November 5, 2009, Moody's Investors Service downgraded the bank
financial strength and long term debt and deposit ratings of
FirstBank Puerto Rico (bank financial strength to D- from D+,
long-term deposits to Ba3 from Ba1).  Following the downgrade, the
rating outlook is negative.


* PUERTO RICO: S&P Downgrades Rating on Industrial Loan to 'BB'
---------------------------------------------------------------
Standard & Poor's Ratings Services lowered its rating to 'BB' from
'BB+' on Puerto Rico Industrial, Medical, and Higher Education and
Environmental Pollution Control Facilities Finance Authority's
$11.3 million series 1996 bonds, issued for Ryder Memorial
Hospital, P.R.

The downgrade reflects continued operating and excess losses in
fiscal 2009 (unaudited and hospital only), despite some slight
improvement in admissions, contributing to weak coverage of
maximum annual debt service at 1.0x.

Factors supporting the rating are Ryder's dominant market
position, highlighted by 67% market share within the primary
service area; successful recruitment of two new surgeons and two
cardiologists, which could bode well for the slightly improving
admissions trend; and liquidity, though generally weak and
slightly down in fiscal 2009, is still adequate for the rating
level.

In December 2008, Standard & Poor's lowered its long-term rating
to 'BB+' from 'BBB-' to reflect an unexpected operating loss for
the 10 months of 2008 ended Oct. 31.  At that time, management
indicated it was implementing initiatives to improve operations
for fiscal 2009 and budgeting for a slight operating gain of
$400,000.  However, continued pressure on labor and staffing
expenses, coupled with some physician turnover, contributed to the
continued deficit.

"The stable outlook reflects management's success in recruiting
new physicians, which could lead to incremental volume and revenue
growth in fiscal 2010," said Standard & Poor's credit analyst
Stephen Infranco.  "Furthermore, the last year of the government-
mandated nursing salary increase was fiscal 2009, so expense
pressure may ease a bit in fiscal 2010," said Mr. Infranco.

Management has also indicated that they are reviewing staffing
levels and expect further cost savings for fiscal 2010.  For Ryder
to achieve a positive outlook or higher rating, it must achieve
its operational target of positive operations in fiscal 2010 and
sustain the improved level over time, thereby improving its
balance sheet and income statement metrics.  Conversely, Standard
& Poor's would base a lower rating on continued decreases in
operating results or further balance sheet erosion.

A pledge of Ryder's gross receipts, a 155-staffed-bed hospital in
Humacao, secures the bonds.


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


ELECTICIDAD DE CARACAS: To Suspend Power to 80 Businesses
---------------------------------------------------------
Daniel Cancel at Bloomberg News reports that Electricidad de
Caracas CA will suspend power to 80 businesses today, March 23,
2010, for 24 hours.  The report relates that the businesses failed
to reduce electricity consumption by 20% or more as ordered by
President Hugo Chavez.

According to the report, citing Ultimas Noticias newspaper,
President Hugo Chavez issued the decree to avoid a collapse of the
power grid as a severe drought shrinks hydroelectric production
that provides more than 66% of Venezuela's electricity.  The
report relates that those losing supply mostly include restaurants
in Caracas along with the Caraballeda Yacht Club, several hotels
and the state-run Fondo Unico Social, which handles financing for
Chavez's social programs.

The report notes that the businesses may lose power for as long as
three days or face an indefinite cut if they fail to reduce power
consumption in coming weeks.  "We have to cut power to a group of
nearly 100 high consumers," the report quoted President Chavez as
saying.  "Others are on a waiting list because they continue to
waste electricity. If they continue like this they'll lose power
indefinitely," he added.

                   About Electricidad de Caracas

Electricidad de Caracas generates, markets, and distributes
electricity, and offers related services.  The Company is based in
Venezuela and serves the metropolitan area of Caracas, Guarenas,
Guatire, and San Felipe.

                          *     *     *

As of March 22, 2010, the company continues to carry Standard and
poor's "B+" LT Issuer credit ratings.  The company also continues
to carry Fitch rating's "B+" LT Issuer credit ratings and Senior
Unsecured debt ratings.


PETROLEOS DE VENEZUELA: New Trucks to Improve Petroleum Supply
--------------------------------------------------------------
With the addition of 20 18-wheelers to PDVSA Communal Gas's
primary transport fleet, it improves the supply of petroleum
liquefied gas in the Barquisimeto, Ciudad Ojeda and Guatire
Plants.  These units are responsible for transporting the fuel
from the refineries to the company's different gas filling plants.

Hector Perera, General Manager of Operations, said that the
vehicles have already been distributed, "There are ten in
Guarenas, five in Barquisimeto, and the rest in Ciudad Ojeda.
This distribution was made according to seniority."  He also
expressed that with this acquisition the product reaches the
plants in a timely manner.

GLP (petroleum liquefied gas) is transported across the country
through 180 tankers arriving to fill the 39 PDVSA Gas Communal
filling plants, and once on site, the process is carried out to
stationary tanks ready for storage, once in place, the trained and
certified staff in accordance with existing national and
international standards, proceeds to the filling of the cylinders.
These containers that combine different technologies, are
transported for distribution in units of owned by the company to
the various communities that require it.

The acquisition of these new primary transport units are part of
the plan of strengthening the existing infrastructure for GLP
(petroleum liquefied gas) supply, aimed at securing energy supply
to the Venezuelan people.


                            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 of March 8, 2010, the company continues to carry Moody's "Ba1"
LC Curr Issuer rating.  The company also continues to carry
Standard and Poor's "B+" LT Issuer credit ratings.


* VENEZUELA: To Produce 200 Million Cubic Feet of Gas in 2012
-------------------------------------------------------------
The president of the Bolivarian Republic of Venezuela and the
president of the Republic of Belarus confirmed the shipment of 80
thousand barrels per day (b / d) on May first, and disclosed that
for 2012 there will be a production of 200 million cubic feet
(pc / g) from the 40 thousand produced today by the company
Bielovenezolana (Venezuela and Belarus) and a total of 22
scientific, trade and technology agreements were signed.

Among the agreements, an agreement to develop training programs in
the areas of gas, logistic planning, and distribution of liquefied
petroleum gas and natural gas as well as training in the use of
associated and non associated gas were signed, in order to avoid
flaring and venting of hydrocarbon.  As an example of this joint
effort, ten rustic units were converted to gas that same day.

The president, Hugo Chavez and his counterpart Alexander
Lukashenko also witnessed the signing of agreements by senior
diplomats and ministers of both nations in the Miraflores Palace
in Caracas.

President Hugo Chavez stated that this is a historic event because
for the first time a Venezuelan crude cargo will arrive directly
to Central Europe, which will enter through the port of Odessa in
the Republic of Ukraine to be taken for process at the two
refineries in the Republic of Belarus: "For a multipolar world in
the search of balance and peace for the continent's future in the
framework of socialism," said the Head of State.

The Belarusian leader emphasized the dynamism in bilateral
relations over the past two years and confirmed the commitment of
his country with Venezuela: "We have come to you as your friends
and brothers, not only will we get natural gas and oil with you,
but will build cities, villages, basically we want to work with
our Venezuelan friends."

For his part, the People's Minister for Energy and Petroleum and
PDVSA President Rafael Ramirez stressed out the strategic and
geopolitical strength represented in Venezuela's Orinoco Oil Belt.
It also highlighted the high technical capacity of the Republic of
Belarus and stressed that the scientific and technical cooperation
agreements the nation have signed are attached to the existing
laws governing those matters in Venezuela, unlike the pillage the
transnational companies did in the past.

During the agreements signing ceremony got in touch via satellite
with the states of Anzoategui and Barinas, where several bilateral
projects are conducted. From the Soto, Mapire and La Ceiba fields,
located in Freites, south of Anzoategui in the east of the
country, the joint goals were announced by the Vice President of
Exploration and Production of Petroleos de Venezuela SA (PDVSA)
and president of the Corporacion Venezolana del Petroleo (CVP),
Eulogio Del Pino, together with the Anzoategui governor Tarek
William Saab, directors of the Bielovenezolana joint venture and
PDVSA Gas.

Likewise in the west side of the country, specifically in the
neighborhood of La Cinque¤a III, Barinas State, the governor Adan
Chavez, the Barinas people who are the direct beneficiaries and
technical advisers in gasification from Belarus, testified on the
Gasification Plan which will make massive this public service and
announced that by 2016 it aims to have 70 thousand kilometers of
gas pipelines.

During the live broadcast that linked the east, west, and center
of the country, there was a view of the geological seismic trucks
being assembled in the country. There is an aim that in the future
it will be build a Bielovenezolana plant that will produces such
vehicles, tractors, dump trucks and also tools for the area that
will be marketed in the region.

The Belarusian-Venezuelan alliance, in addition to securing a
number of agreements on commercial, residential, agricultural, oil
and gas, industrial matters, will push for rehabilitation of
wells, will materialize technology transfer and strengthen the
education and training of technical staff.

                          *     *     *

According to Moody's Investors Service, Venezuela continues to
carry a B2 foreign currency rating and a B1 local currency rating
with stable outlook.


===============
X X X X X X X X
===============


* LATAM: FOMIN, IIC, Investors, Launch New Lending Facility
-----------------------------------------------------------
The Inter-American Development Bank's Multilateral Investment
Fund, the Inter-American Investment Corporation, the Corporacion
Andina de Fomento (CAF), and private investors signed documents
launching the Microfinance Growth Fund (MIGRoF), a new lending
facility for microfinance institutions in Latin America and the
Caribbean.

The new facility is expected to provide up to US$250 million in
medium- and long-term loans to microfinance institutions
throughout the region, offering financing in local currency and in
U.S. dollars.  A US$125 million loan from the U.S. Overseas
Private Investment Corporation (OPIC), pledged at the signing
ceremony today, will allow MIGRoF to initiate its lending
operations in coming weeks.

Banamex, Mexico's largest private bank and a subsidiary of U.S.-
based Citibank, recently joined MIGRoF as an investor and partner
who is expected to play a major role in its corporate governance.

The creation of MIGRoF was first announced by U.S. President
Barack Obama in April 2009.  Speaking at the Fifth Summit of the
Americas in Port of Spain, Trinidad, he advanced that OPIC would
partner with FOMIN and the IIC to launch a new source of funding
for microfinance institutions in response to the reduction in
their lending capacity due to the global credit crisis.

FOMIN and the IIC took a leading role in structuring MIGROF and
defining its lending strategy.  They also engineered the
competitive process by which Swiss investment management company
BlueOrchard Finance S.A. became the new facility's manager.

"This new facility will not only help restore the lending capacity
of microfinance institutions after the impact they felt when they
were hit by the global financial crisis", said IDB President and
IIC Chairman Luis Alberto Moreno.  "MIGRoF will also fuel the
engine of growth in microfinance, boosting economic growth and
increasing employment in many countries of the region".

FOMIN is providing US$10 million in equity to the new facility,
the IIC will contribute up to US$5 million, and CAF will invest up
to US$10 million.  The private partners and investors in MIGROF,
besides Banamex, are the Norwegian Microfinance Initiative (NMI),
ACCION International, and BlueOrchard.


* Large Companies With Insolvent Balance Sheets
-----------------------------------------------

                                                           Total
                                         Total      Shareholders
                                         Assets           Equity
Company             Ticker               (US$MM)          (US$MM)
-------             ------           ------------         -------


ARGENTINA

SOC COMERCIAL PL      SCDPF US        113091441.2     -254639574
SNIAFA SA-B           SDAGF US        11229696.22    -2670544.88
AUTOPISTAS SOL        APDSF US        351681166.9     -2858782.1
SOC COMERCIAL PL      CAD IX          113091441.2     -254639574
SOC COMERCIAL PL      CVVIF US        113091441.2     -254639574
SOC COMERCIAL PL      CADN EO         113091441.2     -254639574
COMERCIAL PL-ADR      SCPDS LI        113091441.2     -254639574
SOC COMERCIAL PL      COME AR         113091441.2     -254639574
SOC COMERCIAL PL      CADN SW         113091441.2     -254639574
COMERCIAL PLA-BL      COMEB AR        113091441.2     -254639574
COMERCIAL PL-C/E      COMEC AR        113091441.2     -254639574
COMERCIAL PLAT-$      COMED AR        113091441.2     -254639574
SNIAFA SA             SNIA AR         11229696.22    -2670544.88
SNIAFA SA-B           SNIA5 AR        11229696.22    -2670544.88
AUTOPISTAS SOL        AUSO AR         351681166.9     -2858782.1
IMPSAT FIBER NET      IMPTQ US          535007008      -17165000
IMPSAT FIBER NET      330902Q GR        535007008      -17165000
IMPSAT FIBER NET      XIMPT SM          535007008      -17165000
IMPSAT FIBER-CED      IMPT AR           535007008      -17165000
IMPSAT FIBER-C/E      IMPTC AR          535007008      -17165000
IMPSAT FIBER-$US      IMPTD AR          535007008      -17165000
IMPSAT FIBER-BLK      IMPTB AR          535007008      -17165000

BRAZIL

DOC IMBITUBA-RTC      IMBI1 BZ        114896167.4    -16783228.4
DOC IMBITUBA-RTP      IMBI2 BZ        114896167.4    -16783228.4
TELECOMUNICA-ADR      81370Z BZ       248609064.5    -9345005.13
FABRICA TECID-RT      FTRX1 BZ        66779266.69    -50394386.1
PROMAN                PRMN3B BZ       13403496.63    -173711.308
TEKA-ADR              TEKAY US        237436193.6     -360484910
BOMBRIL               BMBBF US          300229620     -120551090
TELEBRAS-PF RCPT      CBRZF US        248609064.5    -9345005.13
TEKA                  TKTQF US        237436193.6     -360484910
TEKA-PREF             TKTPF US        237436193.6     -360484910
REII INC              REIC US            16631180       -1448544
PET MANG-RIGHTS       RPMG1 BZ        97015785.16     -251755220
PET MANG-RIGHTS       RPMG2 BZ        97015785.16     -251755220
PET MANG-RECEIPT      RPMG9 BZ        97015785.16     -251755220
PET MANG-RECEIPT      RPMG10 BZ       97015785.16     -251755220
MMX MINERACAO         TRES3 BZ         1018389001     -160218401
MMX MINERACA-GDR      MMXMY US         1018389001     -160218401
SANESALTO             SNST3 BZ        27381496.74     -870175.96
B&D FOOD CORP         BDFCE US           16631180       -1448544
BOMBRIL-RGTS PRE      BOBR2 BZ          300229620     -120551090
BOMBRIL-RIGHTS        BOBR1 BZ          300229620     -120551090
MMX MINERACA-GDR      XMM CN           1018389001     -160218401
TELEBRAS/W-I-ADR      TBH-W US        248609064.5    -9345005.13
MMX MINERACA-GDR      3M11 GR          1018389001     -160218401
LAEP-BDR              MILK11 BZ       446499199.2    -70952298.9
LAEP INVESTMENTS      LEAP LX         446499199.2    -70952298.9
MMX MINERACAO         MMXCF US         1018389001     -160218401
BALADARE              BLDR3 BZ        144928980.8    -33970462.8
TEXTEIS RENAU-RT      TXRX1 BZ        58969047.84    -91550951.9
TEXTEIS RENAU-RT      TXRX2 BZ        58969047.84    -91550951.9
TEXTEIS RENA-RCT      TXRX9 BZ        58969047.84    -91550951.9
TEXTEIS RENA-RCT      TXRX10 BZ       58969047.84    -91550951.9
TELEBRAS SA-RT        TELB9 BZ        248609064.5    -9345005.13
GASCOIGNE EMP-PF      GASC4 BZ         1123596482     -536003486
ALL MALHA PAULIS      GASC3 BZ         1123596482     -536003486
CIA PETROLIF-PRF      MRLM4 BZ        377602195.2    -3014291.72
CIA PETROLIFERA       MRLM3 BZ        377602195.2    -3014291.72
NOVA AMERICA SA       NOVA3 BZ           21287489     -183535527
NOVA AMERICA-PRF      NOVA4 BZ           21287489     -183535527
PROMAN                PRMN3 BZ        13403496.63    -173711.308
B&D FOOD CORP         BDFC US            16631180       -1448544
MMX MINERACAO-RT      MMXM1 BZ         1018389001     -160218401
MMX MINERACA-RCT      MMXM9 BZ         1018389001     -160218401
TELEBRAS SA           TELB3 BZ        248609064.5    -9345005.13
TELEBRAS SA           TLBRON BZ       248609064.5    -9345005.13
TELEBRAS SA           TBASF US        248609064.5    -9345005.13
TELEBRAS SA-PREF      TELB4 BZ        248609064.5    -9345005.13
TELEBRAS SA-PREF      TLBRPN BZ       248609064.5    -9345005.13
TELEBRAS-ADR          TBAPY US        248609064.5    -9345005.13
TELEBRAS-ADR          TBRAY GR        248609064.5    -9345005.13
TELEBRAS-CEDE PF      RCTB4 AR        248609064.5    -9345005.13
TELEBRAS-CED C/E      RCT4C AR        248609064.5    -9345005.13
TELEBRAS-CEDEA $      RCT4D AR        248609064.5    -9345005.13
TELEBRAS-CEDE BL      RCT4B AR        248609064.5    -9345005.13
TELEBRAS-ADR          TBH US          248609064.5    -9345005.13
TELEBRAS-ADR          TBX GR          248609064.5    -9345005.13
TELEBRAS-ADR          RTB US          248609064.5    -9345005.13
TELEBRAS-ADR          TBASY US        248609064.5    -9345005.13
TELEBRAS-RCT PRF      TELB10 BZ       248609064.5    -9345005.13
TELEBRAS-RTS CMN      RCTB1 BZ        248609064.5    -9345005.13
TELEBRAS-RTS PRF      RCTB2 BZ        248609064.5    -9345005.13
TELEBRAS-RTS CMN      TCLP1 BZ        248609064.5    -9345005.13
TELEBRAS-RTS PRF      TLCP2 BZ        248609064.5    -9345005.13
TELEBRAS-COM RT       TELB1 BZ        248609064.5    -9345005.13
TELEBRAS-CM RCPT      RCTB31 BZ       248609064.5    -9345005.13
TELEBRAS-CM RCPT      TELE31 BZ       248609064.5    -9345005.13
TELEBRAS-RCT          RCTB33 BZ       248609064.5    -9345005.13
TELEBRAS-CM RCPT      TBRTF US        248609064.5    -9345005.13
TELEBRAS-CM RCPT      RCTB32 BZ       248609064.5    -9345005.13
TELEBRAS-PF RCPT      RCTB41 BZ       248609064.5    -9345005.13
TELEBRAS-PF RCPT      TELE41 BZ       248609064.5    -9345005.13
TELEBRAS-PF RCPT      RCTB42 BZ       248609064.5    -9345005.13
TELEBRAS-CEDE PF      TELB4 AR        248609064.5    -9345005.13
TELEBRAS-CED C/E      TEL4C AR        248609064.5    -9345005.13
TELEBRAS-CM RCPT      RCTB30 BZ       248609064.5    -9345005.13
TELEBRAS-PF RCPT      RCTB40 BZ       248609064.5    -9345005.13
TELEBRAS-PF RCPT      TBAPF US        248609064.5    -9345005.13
TELEBRAS-RECEIPT      TLBRUO BZ       248609064.5    -9345005.13
TELEBRAS-PF RCPT      TLBRUP BZ       248609064.5    -9345005.13
TELEBRAS-BLOCK        TELB30 BZ       248609064.5    -9345005.13
TELEBRAS-PF BLCK      TELB40 BZ       248609064.5    -9345005.13
TELEBRAS-CEDEA $      TEL4D AR        248609064.5    -9345005.13
ARTHUR LANGE          ARLA3 BZ        11642255.92    -17154461.9
ARTHUR LANGE SA       ALICON BZ       11642255.92    -17154461.9
ARTHUR LANGE-PRF      ARLA4 BZ        11642255.92    -17154461.9
ARTHUR LANGE-PRF      ALICPN BZ       11642255.92    -17154461.9
ARTHUR LANG-RT C      ARLA1 BZ        11642255.92    -17154461.9
ARTHUR LANG-RT P      ARLA2 BZ        11642255.92    -17154461.9
ARTHUR LANG-RC C      ARLA9 BZ        11642255.92    -17154461.9
ARTHUR LANG-RC P      ARLA10 BZ       11642255.92    -17154461.9
ARTHUR LAN-DVD C      ARLA11 BZ       11642255.92    -17154461.9
ARTHUR LAN-DVD P      ARLA12 BZ       11642255.92    -17154461.9
BOMBRIL               BOBR3 BZ          300229620     -120551090
BOMBRIL CIRIO SA      BOBRON BZ         300229620     -120551090
BOMBRIL-PREF          BOBR4 BZ          300229620     -120551090
BOMBRIL CIRIO-PF      BOBRPN BZ         300229620     -120551090
BOMBRIL SA-ADR        BMBPY US          300229620     -120551090
BOMBRIL SA-ADR        BMBBY US          300229620     -120551090
BUETTNER              BUET3 BZ         97710630.4    -46681943.4
BUETTNER SA           BUETON BZ        97710630.4    -46681943.4
BUETTNER-PREF         BUET4 BZ         97710630.4    -46681943.4
BUETTNER SA-PRF       BUETPN BZ        97710630.4    -46681943.4
BUETTNER SA-RTS       BUET1 BZ         97710630.4    -46681943.4
BUETTNER SA-RT P      BUET2 BZ         97710630.4    -46681943.4
CAF BRASILIA          CAFE3 BZ        20168618.46     -728730286
CAFE BRASILIA SA      CSBRON BZ       20168618.46     -728730286
CAF BRASILIA-PRF      CAFE4 BZ        20168618.46     -728730286
CAFE BRASILIA-PR      CSBRPN BZ       20168618.46     -728730286
CAMBUCI SA            CAMB3 BZ        91527757.19      -26705143
CAMBUCI SA            CAMBON BZ       91527757.19      -26705143
CAMBUCI SA-PREF       CAMB4 BZ        91527757.19      -26705143
CAMBUCI SA-PREF       CAMBPN BZ       91527757.19      -26705143
CAMBUCI SA-PREF       CXDOF US        91527757.19      -26705143
CHIARELLI SA          CCHI3 BZ        22274026.77    -44537138.2
CHIARELLI SA          CCHON BZ        22274026.77    -44537138.2
CHIARELLI SA-PRF      CCHI4 BZ        22274026.77    -44537138.2
CHIARELLI SA-PRF      CCHPN BZ        22274026.77    -44537138.2
DOC IMBITUBA          IMBI3 BZ        114896167.4    -16783228.4
DOCAS IMBITUBA        IMBION BZ       114896167.4    -16783228.4
DOC IMBITUB-PREF      IMBI4 BZ        114896167.4    -16783228.4
DOCAS IMBITUB-PR      IMBIPN BZ       114896167.4    -16783228.4
SCHLOSSER             SCLO3 BZ        11745600.44    -75930514.2
SCHLOSSER SA          SCHON BZ        11745600.44    -75930514.2
SCHLOSSER-PREF        SCLO4 BZ        11745600.44    -75930514.2
SCHLOSSER SA-PRF      SCHPN BZ        11745600.44    -75930514.2
CONST A LINDEN        CALI3 BZ        11147512.97      -15979177
CONST A LINDEN        LINDON BZ       11147512.97      -15979177
CONST A LIND-PRF      CALI4 BZ        11147512.97      -15979177
CONST A LIND-PRF      LINDPN BZ       11147512.97      -15979177
D H B                 DHBI3 BZ        124060999.4     -405125353
DHB IND E COM         DHBON BZ        124060999.4     -405125353
D H B-PREF            DHBI4 BZ        124060999.4     -405125353
DHB IND E COM-PR      DHBPN BZ        124060999.4     -405125353
DOCA INVESTIMENT      DOCA3 BZ        88417960.92    -18059127.9
DOCAS SA              DOCAON BZ       88417960.92    -18059127.9
DOCA INVESTI-PFD      DOCA4 BZ        88417960.92    -18059127.9
DOCAS SA-PREF         DOCAPN BZ       88417960.92    -18059127.9
DOCAS SA-RTS PRF      DOCA2 BZ        88417960.92    -18059127.9
ACO ALTONA            EALT3 BZ        84614947.94    -14270921.5
ACO ALTONA SA         EAAON BZ        84614947.94    -14270921.5
ACO ALTONA-PREF       EALT4 BZ        84614947.94    -14270921.5
ACO ALTONA-PREF       EAAPN BZ        84614947.94    -14270921.5
FABRICA RENAUX        FTRX3 BZ        66779266.69    -50394386.1
FABRICA RENAUX        FRNXON BZ       66779266.69    -50394386.1
FABRICA RENAUX-P      FTRX4 BZ        66779266.69    -50394386.1
FABRICA RENAUX-P      FRNXPN BZ       66779266.69    -50394386.1
HAGA                  HAGA3 BZ        16483114.08      -62923102
FERRAGENS HAGA        HAGAON BZ       16483114.08      -62923102
FER HAGA-PREF         HAGA4 BZ        16483114.08      -62923102
FERRAGENS HAGA-P      HAGAPN BZ       16483114.08      -62923102
TECEL S JOSE          SJOS3 BZ        17924946.14    -18569451.2
TECEL S JOSE          FTSJON BZ       17924946.14    -18569451.2
TECEL S JOSE-PRF      SJOS4 BZ        17924946.14    -18569451.2
TECEL S JOSE-PRF      FTSJPN BZ       17924946.14    -18569451.2
CIMOB PARTIC SA       GAFP3 BZ        36817394.78    -33083086.5
CIMOB PARTIC SA       GAFON BZ        36817394.78    -33083086.5
CIMOB PART-PREF       GAFP4 BZ        36817394.78    -33083086.5
CIMOB PART-PREF       GAFPN BZ        36817394.78    -33083086.5
GAZOLA                GAZO3 BZ        12452143.07    -40298506.3
GAZOLA SA             GAZON BZ        12452143.07    -40298506.3
GAZOLA-PREF           GAZO4 BZ        12452143.07    -40298506.3
GAZOLA SA-PREF        GAZPN BZ        12452143.07    -40298506.3
GAZOLA-RCPTS CMN      GAZO9 BZ        12452143.07    -40298506.3
GAZOLA-RCPT PREF      GAZO10 BZ       12452143.07    -40298506.3
GAZOLA SA-DVD CM      GAZO11 BZ       12452143.07    -40298506.3
GAZOLA SA-DVD PF      GAZO12 BZ       12452143.07    -40298506.3
IGB ELETRONICA        IGBR3 BZ        145256033.3     -273857292
GRADIENTE ELETR       IGBON BZ        145256033.3     -273857292
GRADIENTE-PREF A      IGBR5 BZ        145256033.3     -273857292
GRADIENTE EL-PRA      IGBAN BZ        145256033.3     -273857292
GRADIENTE-PREF B      IGBR6 BZ        145256033.3     -273857292
GRADIENTE EL-PRB      IGBBN BZ        145256033.3     -273857292
GRADIENTE-PREF C      IGBR7 BZ        145256033.3     -273857292
GRADIENTE EL-PRC      IGBCN BZ        145256033.3     -273857292
HERCULES              HETA3 BZ         11597351.7     -168514681
HERCULES SA           HERTON BZ        11597351.7     -168514681
HERCULES-PREF         HETA4 BZ         11597351.7     -168514681
HERCULES SA-PREF      HERTPN BZ        11597351.7     -168514681
RENAUXVIEW SA         TXRX3 BZ        58969047.84    -91550951.9
TEXTEIS RENAUX        RENXON BZ       58969047.84    -91550951.9
RENAUXVIEW SA-PF      TXRX4 BZ        58969047.84    -91550951.9
TEXTEIS RENAUX        RENXPN BZ       58969047.84    -91550951.9
PARMALAT              LCSA3 BZ        388720052.3     -213641144
PARMALAT BRASIL       LCSAON BZ       388720052.3     -213641144
PARMALAT-PREF         LCSA4 BZ        388720052.3     -213641144
PARMALAT BRAS-PF      LCSAPN BZ       388720052.3     -213641144
PARMALAT BR-RT C      LCSA5 BZ        388720052.3     -213641144
PARMALAT BR-RT P      LCSA6 BZ        388720052.3     -213641144
ESTRELA SA            ESTR3 BZ        61011893.59    -54580283.6
ESTRELA SA            ESTRON BZ       61011893.59    -54580283.6
ESTRELA SA-PREF       ESTR4 BZ        61011893.59    -54580283.6
ESTRELA SA-PREF       ESTRPN BZ       61011893.59    -54580283.6
RIOSULENSE SA         RSUL3 BZ        61902901.69    -11292932.5
RIOSULENSE SA         RSULON BZ       61902901.69    -11292932.5
RIOSULENSE SA-PR      RSUL4 BZ        61902901.69    -11292932.5
RIOSULENSE SA-PR      RSULPN BZ       61902901.69    -11292932.5
WETZEL SA             MWET3 BZ        79756128.35    -6350930.69
WETZEL SA             MWELON BZ       79756128.35    -6350930.69
WETZEL SA-PREF        MWET4 BZ        79756128.35    -6350930.69
WETZEL SA-PREF        MWELPN BZ       79756128.35    -6350930.69
MINUPAR               MNPR3 BZ        64999715.99     -103795048
MINUPAR SA            MNPRON BZ       64999715.99     -103795048
MINUPAR-PREF          MNPR4 BZ        64999715.99     -103795048
MINUPAR SA-PREF       MNPRPN BZ       64999715.99     -103795048
NORDON MET            NORD3 BZ        15498217.36    -20133536.7
NORDON METAL          NORDON BZ       15498217.36    -20133536.7
NORDON MET-RTS        NORD1 BZ        15498217.36    -20133536.7
NOVA AMERICA SA       NOVA3B BZ          21287489     -183535527
NOVA AMERICA SA       NOVAON BZ          21287489     -183535527
NOVA AMERICA-PRF      NOVA4B BZ          21287489     -183535527
NOVA AMERICA-PRF      NOVAPN BZ          21287489     -183535527
NOVA AMERICA-PRF      1NOVPN BZ          21287489     -183535527
NOVA AMERICA SA       1NOVON BZ          21287489     -183535527
PETRO MANGUINHOS      RPMG3 BZ        97015785.16     -251755220
PETRO MANGUINHOS      MANGON BZ       97015785.16     -251755220
PET MANGUINH-PRF      RPMG4 BZ        97015785.16     -251755220
PETRO MANGUIN-PF      MANGPN BZ       97015785.16     -251755220
RIMET                 REEM3 BZ        63757621.65     -107162240
RIMET                 REEMON BZ       63757621.65     -107162240
RIMET-PREF            REEM4 BZ        63757621.65     -107162240
RIMET-PREF            REEMPN BZ       63757621.65     -107162240
SANSUY                SNSY3 BZ        100279114.9    -45812488.8
SANSUY SA             SNSYON BZ       100279114.9    -45812488.8
SANSUY-PREF A         SNSY5 BZ        100279114.9    -45812488.8
SANSUY SA-PREF A      SNSYAN BZ       100279114.9    -45812488.8
SANSUY-PREF B         SNSY6 BZ        100279114.9    -45812488.8
SANSUY SA-PREF B      SNSYBN BZ       100279114.9    -45812488.8
BOTUCATU TEXTIL       STRP3 BZ        35101566.77    -13482713.5
STAROUP SA            STARON BZ       35101566.77    -13482713.5
BOTUCATU-PREF         STRP4 BZ        35101566.77    -13482713.5
STAROUP SA-PREF       STARPN BZ       35101566.77    -13482713.5
TEKA                  TEKA3 BZ        237436193.6     -360484910
TEKA                  TEKAON BZ       237436193.6     -360484910
TEKA-PREF             TEKA4 BZ        237436193.6     -360484910
TEKA-PREF             TEKAPN BZ       237436193.6     -360484910
TEKA-ADR              TKTPY US        237436193.6     -360484910
TEKA-ADR              TKTQY US        237436193.6     -360484910
VARIG SA              VAGV3 BZ        966298025.5    -4695211316
VARIG SA              VARGON BZ       966298025.5    -4695211316
VARIG SA-PREF         VAGV4 BZ        966298025.5    -4695211316
VARIG SA-PREF         VARGPN BZ       966298025.5    -4695211316
WIEST                 WISA3 BZ        39838113.86    -93371563.1
WIEST SA              WISAON BZ       39838113.86    -93371563.1
WIEST-PREF            WISA4 BZ        39838113.86    -93371563.1
WIEST SA-PREF         WISAPN BZ       39838113.86    -93371563.1
FER C ATLANT          VSPT3 BZ         1212489621    -38389781.7
FER C ATLANT-PRF      VSPT4 BZ         1212489621    -38389781.7
FERROVIA CEN-DVD      VSPT11 BZ        1212489621    -38389781.7
FERROVIA CEN-DVD      VSPT12 BZ        1212489621    -38389781.7
FER C ATL-RCT CM      VSPT9 BZ         1212489621    -38389781.7
FER C ATL-RCT PF      VSPT10 BZ        1212489621    -38389781.7
HOPI HARI SA          PQTM3 BZ        62168844.09    -55189836.7
HOPI HARI-PREF        PQTM4 BZ        62168844.09    -55189836.7
PARQUE TEM-DV CM      PQT5 BZ         62168844.09    -55189836.7
PARQUE TEM-DV PF      PQT6 BZ         62168844.09    -55189836.7
PARQUE TEM-RT CM      PQTM1 BZ        62168844.09    -55189836.7
PARQUE TEM-RT PF      PQTM2 BZ        62168844.09    -55189836.7
PARQUE TEM-RCT C      PQTM9 BZ        62168844.09    -55189836.7
PARQUE TEM-RCT P      PQTM10 BZ       62168844.09    -55189836.7
MMX MINERACAO         MMXM3 BZ         1018389001     -160218401
TRESSEM PART SA       1TSSON BZ        1018389001     -160218401
ALL MALHA PAULIS      GASC3B BZ        1123596482     -536003486
GASCOIGNE EMP-PF      GASC4B BZ        1123596482     -536003486
GASCOIGNE EMPREE      1GASON BZ        1123596482     -536003486
GASCOIGNE EMP-PF      1GASPN BZ        1123596482     -536003486
CIA PETROLIFERA       MRLM3B BZ       377602195.2    -3014291.72
CIA PETROLIF-PRF      MRLM4B BZ       377602195.2    -3014291.72
CIA PETROLIFERA       1CPMON BZ       377602195.2    -3014291.72
CIA PETROLIF-PRF      1CPMPN BZ       377602195.2    -3014291.72
LATTENO FOOD COR      LATF US            16631180       -1448544
VARIG PART EM TR      VPTA3 BZ        49432124.18     -399290426
VARIG PART EM-PR      VPTA4 BZ        49432124.18     -399290426
VARIG PART EM SE      VPSC3 BZ        84848504.58     -430964848
VARIG PART EM-PR      VPSC4 BZ        84848504.58     -430964848


CHILE

CHILESAT CO-ADR       TL US           506644998.8    -60450603.1
CHILESAT CORP SA      TELEX CI        506644998.8    -60450603.1
CHILESAT CO-RTS       CHISATOS CI     506644998.8    -60450603.1
TELMEX CORP SA        CHILESAT CI     506644998.8    -60450603.1
TELEX-A               TELEXA CI       506644998.8    -60450603.1
TELMEX CORP-ADR       CSAOY US        506644998.8    -60450603.1
TELEX-RTS             TELEXO CI       506644998.8    -60450603.1


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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

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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 2010.  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.


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