TCRLA_Public/100705.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                      L A T I N  A M E R I C A

              Monday, July 5, 2010, Vol. 11, No. 130

                            Headlines



A R G E N T I N A

BIG ONE: Creditors' Proofs of Debt Due on September 8
MARKETING AND: Creditors' Proofs of Debt Due on August 30
SERVICIOS GRAFICOS: Creditors' Proofs of Debt Due on November 8


B E R M U D A

ASIAN PROPERTY: Creditors' Proofs of Debt Due on July 2
ASIAN PROPERTY: Members' Final Meeting Set for July 23
INTELSAT LTD: Bank Debt Trades at 6% Off in Secondary Market
MATTEL FUNDING: Creditors' Proofs of Debt Due on July 2
MATTEL FUNDING: Members' Final Meeting Set for July 21

PGA ASIAN: Creditors' Proofs of Debt Due on July 2
PGA ASIAN: Members' Final Meeting Set for July 23
PROTOSTAR LTD: Lenders Object to Lowenstein, Greenberg Fees


B R A Z I L

AES ELETROPAULO: To Post BRL71-Million Gain in Second Quarter
BANCO CRUZEIRO: Moody's Assigns 'Ba2' Rating on Senior Notes
MULTIPLAN EMPREENDIMENTOS: S&P Affirms 'BB+' Corp. Credit Rating


C A Y M A N  I S L A N D S

ANALYTIC MARKET: Members to Hear Wind-Up Report on August 4
AUSTENITIC RESOURCES: Shareholders to Meet on July 23
CONOCOPHILLIPS: Shareholders to Hear Wind-Up Report on July 14
CONOCOPHILLIPS BARENTS: Members to Hear Wind-Up Report on July 14
ELEXIR FUNDS: Members' Final Meeting Set for July 22

EVOL HOLDINGS: Shareholders to Hear Wind-Up Report on July 23
ING CLARION: Shareholder to Hear Wind-Up Report on July 21
ING CLARION: Shareholder to Hear Wind-Up Report on July 21
MARATHON GTF: Shareholders' Meeting Set for July 23
MARATHON INTERNATIONAL: Shareholders' Meeting Set for July 23

PANDENA INVESTMENT: Shareholders to Hear Wind-Up Report on July 14
PHILLIPS DEEPWATER: Shareholders to Hear Wind-Up Report on July 14
PLATINUM LIBRA: Shareholder to Hear Wind-Up Report on July 22
PRISMA RISING: Shareholders to Hear Wind-Up Report on July 29
RC OPPORTUNITY: Members' Final Meeting Set for July 23

SB TB: Members to Hear Wind-Up Report on July 16
SB TRADING: Shareholders' Final Meeting Set for July 23
TE ACLLP: Shareholders to Receive Wind-Up Report on July 23
TELECOM: Shareholders to Hear Wind-Up Report on July 23
TURKISH FALCON: Shareholders to Hear Wind-Up Report on July 23


C O L O M B I A

ECOPETROL SA: BP Hands Over Cupiagua Oil Field to Firm


E C U A D O R

* ECUADOR: To Receive US$75-Million Loan From IDB
* ECUADOR: Negotiates US$1BB Loan With China Development Bank


J A M A I C A

AIR JAMAICA: Relaunches Direct Flights to Nassau
AIR JAMAICA: Divestment to Go Ahead as Planned, Jamaica PM Says


M E X I C O

BANCO INBURSA: Fitch Affirms Support Rating Floor at 'B'
CREDITO INMOBILIARIO: Moody's Affirms Global Currency Rating
INFU TRUST: S&P Affirms 'BB' Ratings on US$180 Mil. Notes


V E N E Z U E L A

PETROLEOS DE VENEZUELA: Government Seizes 11 Helmerich Oil Rigs


X X X X X X X X

* BOND PRICING: For the Week June 28, to July 2, 2010




                         - - - - -


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


BIG ONE: Creditors' Proofs of Debt Due on September 8
-----------------------------------------------------
The court-appointed trustee for Big One S.A.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
September 8, 2010.

The trustee will present the validated claims in court as
individual reports on October 25, 2010.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the trustee's
opinion, and the objections and challenges that will be raised by
the company and its creditors.

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

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
December 6, 2010.


MARKETING AND: Creditors' Proofs of Debt Due on August 30
---------------------------------------------------------
The court-appointed trustee for Marketing And Phone S.A.'s
bankruptcy proceedings, will be verifying creditors' proofs of
claim until August 30, 2010.

The trustee will present the validated claims in court as
individual reports on October 12, 2010.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the trustee's
opinion, and the objections and challenges that will be raised by
the company and its creditors.

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

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


SERVICIOS GRAFICOS: Creditors' Proofs of Debt Due on November 8
---------------------------------------------------------------
The court-appointed trustee for Marketing And Phone S.A.'s
bankruptcy proceedings, will be verifying creditors' proofs of
claim until November 8, 2010.

The trustee will present the validated claims in court as
individual reports on December 21, 2010.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the trustee's
opinion, and the objections and challenges that will be raised by
the company and its creditors.

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

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
March 4, 2011.


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B E R M U D A
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ASIAN PROPERTY: Creditors' Proofs of Debt Due on July 2
-------------------------------------------------------
The creditors of Asian Property Partners Ltd. are required to file
their proofs of debt by July 2, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on June 16, 2010.

The company's liquidator is:

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


ASIAN PROPERTY: Members' Final Meeting Set for July 23
------------------------------------------------------
The members of Asian Property Partners Ltd. will hold their final
general meeting, on July 23, 2010, at 9:30 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company commenced wind-up proceedings on June 16, 2010.

The company's liquidator is:

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


INTELSAT LTD: Bank Debt Trades at 6% Off in Secondary Market
------------------------------------------------------------
Participations in a syndicated loan under which Intelsat Ltd. is a
borrower traded in the secondary market at 93.95 cents-on-the-
dollar during the week ended Friday, July 2, 2010, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents a drop of 0.97 percentage points
from the previous week, The Journal relates.  The Company pays 175
basis points above LIBOR to borrow under the facility.  The bank
loan matures on July 7, 2013, and carries Moody's B1 rating and
Standard & Poor's BB- rating.  The debt is one of the biggest
gainers and losers among 191 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

Headquartered in Pembroke, Bermuda, Intelsat Ltd., formerly
PanAmSat Corp., -- http://www.intelsat.com/-- is the largest
fixed satellite service operator in the world and is owned by
Apollo Management, Apax Partners, Madison Dearborn, and Permira.
The company has a sales office in Brazil.

Intelsat Ltd.'s balance sheet showed total assets of
US$12.05 billion, total debts of US$12.77 billion and
stockholders' deficit of US$722.3 million as of March 31, 2008.


MATTEL FUNDING: Creditors' Proofs of Debt Due on July 2
-------------------------------------------------------
The creditors of Mattel Funding Ltd. are required to file their
proofs of debt by July 2, 2010, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on June 16, 2010.

The company's liquidator is:

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


MATTEL FUNDING: Members' Final Meeting Set for July 21
------------------------------------------------------
The members of Mattel Funding Ltd. will hold their final general
meeting, on July 21, 2010, at 9:30 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company commenced wind-up proceedings on June 16, 2010.

The company's liquidator is:

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


PGA ASIAN: Creditors' Proofs of Debt Due on July 2
--------------------------------------------------
The creditors of PGA Asian Holdings Ltd. are required to file
their proofs of debt by July 2, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on June 16, 2010.

The company's liquidator is:

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


PGA ASIAN: Members' Final Meeting Set for July 23
-------------------------------------------------
The members of PGA Asian Holdings Ltd. will hold their final
general meeting, on July 23, 2010, at 9:30 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company commenced wind-up proceedings on June 16, 2010.

The company's liquidator is:

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


PROTOSTAR LTD: Lenders Object to Lowenstein, Greenberg Fees
-----------------------------------------------------------
Bankruptcy Law360 reports that lenders for ProtoStar Ltd. and its
affiliates have objected to about $1.2 million in fees and
expenses requested by unsecured creditors' advisers, including
Greenberg Traurig LLP and Lowenstein Sandler PC, which are
handling legal claims against some of the financing firms.

Secured lenders including BlackRock Financial Management Inc.,
West Face Capital Inc., Farallon Partners LLC, and Octavian
Advisors LP and debtor-in-possession financing agent Credit Suisse
lodged fee objections Thursday, according to Law360.

                       About ProtoStar Ltd.

Hamilton, HM EX, Bermuda-based ProtoStar Ltd. is a satellite
operator formed in 2005 to acquire, modify, launch and operate
high-power geostationary communication satellites for direct-to-
home satellite television and broadband internet access across the
Asia-Pacific region.

The Company and its affiliates filed for Chapter 11 on July 29,
2009 (Bankr. D. Del. Lead Case No. 09-12659).  The Debtor selected
Pachulski Stang Ziehl & Jones LLP as Delaware counsel; Law Firm of
Appleby as their Bermuda counsel; UBS Securities LLC as financial
advisor & investment banker and Kurtzman Carson Consultants LLC as
claims and noticing agent.  The Debtors have tapped UBS Securities
LLC as investment banker and financial advisor.

Also on July 29, 2009, ProtoStar and its affiliates, including
ProtoStar Development Ltd., commenced a coordinated proceeding in
the Supreme Court of Bermuda.  John C. McKenna of Finance & Risk
Services Ltd. as liquidator of the Bermuda Group.

In their Chapter 11 petition, the Debtors listed between
US$100 million and US$500 million each in assets and debts.  As of
December 31, 2008, ProtoStar's consolidated financial statements,
which include non-debtor affiliates, showed total assets of
US$463,000,000 against debts of US$528,000,000.


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B R A Z I L
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AES ELETROPAULO: To Post BRL71-Million Gain in Second Quarter
-------------------------------------------------------------
AES Eletropaulo, a subsidiary of The AES Corporation, will post a
one time gain of BRL71 million (US$39.5 million) in its second
quarter financial results, Rogerio Jelmayer at Dow Jones Newswires
reports, citing a company statement.

According to the report, the gain is due to the reversal of a
provision after the end of a legal dispute with bankrupt local
bank, Banco Santos.

AES Eletropaulo is a major Brazilian power distributor in the
state of Sao Paulo, created in the breakup of the old state-owned
power distribution company Eletropaulo that monopolized
electricity distribution in Sao Paulo from 1981 to 1999. The
similarity of the names makes most old customers call it simply
Eletropaulo.

                       About AES Corporation

The AES Corporation (NYSE:AES) -- http://www.aes.com/-- is one of
the world's largest global power companies, with 2007 revenues of
US$13.6 billion.  With operations in 29 countries on five
continents, AES's generation and distribution facilities have the
capacity to serve 100 million people worldwide.

                           *     *     *

As of March 8, 2010, the company continues to carry Moody's B1 LT
Corp Family and Senior Subordinate ratings, "Ba3" LT Corp family
rating, "B3" Preferred Stock rating, and "B1" Probability of
default rating.  The company also continues to carry Standard and
Poor's "BB-" Issuer credit ratings.


BANCO CRUZEIRO: Moody's Assigns 'Ba2' Rating on Senior Notes
------------------------------------------------------------
Moody's Investors Service assigned a Ba2 long-term foreign
currency debt rating to the US$200,000,000 senior unsecured notes
issued by Banco Cruzeiro do Sul S.A.  The notes, due in July 2013,
were issued under the bank's existing US$1,000,000,000 Short-Term
Note Program rated Ba2 by Moody's.  The outlook on the rating is
stable.

Moody's stated that the Ba2 debt rating incorporates BCSul'
fundamental credit quality and all relevant country risks.  At
Ba2, the bond rating is not constrained by the country ceiling for
foreign currency bonds and notes for Brazil.

Moody's last rating action on BCSul was on June 02, 2010, when
Moody's affirmed all ratings assigned to BCSul and changed the
outlook to stable from negative.

BCSul is headquartered in Sao Paulo, Brazil, and it had total
assets of R$7,678 million (US$4,263 million) and total equity of
R$1,093 million (US$604 million) as of March 30, 2010.

This rating was assigned to the US$200 million senior unsecured
notes due 2013:

* Ba2 long-term foreign currency debt rating, stable outlook


MULTIPLAN EMPREENDIMENTOS: S&P Affirms 'BB+' Corp. Credit Rating
----------------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its 'BB+'
long-term corporate credit rating on Multiplan Empreendimentos
Imobili rios S.A.  At the same time, S&P raised its National Scale
corporate credit rating to 'brAA+' from 'brAA' and raised the
issue rating on the company's Brazilian reais (R$) 100 million
debenture due in 2011 to 'brAA+'.  The outlook is stable.

"The rating action reflects the resilience of Multiplan's cash
flows through the recent downturn, and the positive momentum of
the Brazilian economy, which should help Multiplan's assets and
strengthen its financials," said Standard & Poor's credit analyst
Piero Parolin.

S&P's ratings on Multiplan reflect the company's significant
capital requirements to sustain its growth plans, which include
the development of greenfield projects, investments in real
estate, and opportunistic acquisitions.  Although the funding for
these investments has been mostly resolved with equity issues,
S&P's rating incorporates the integration risks that are inherent
to greenfield project development and fast-paced expansion.
Multiplan's strong credit metrics, sound liquidity, increasing
cash flows, and conservative strategy to finance its expansion
partially offset the negative factors.  The company also benefits
from its favorable position in the Brazilian shopping mall
industry, strong brand recognition, and more favorable margins.

The company's revenues and cash generation improved significantly
in first-quarter 2010 as Multiplan's recently delivered expansions
and greenfield projects have matured.  Strong retail sales and
increasing occupancy have allowed for some favorable rent
renegotiation.

The stable outlook reflects S&P's expectation that Multiplan will
conclude its significant investments and fund them mainly with
internal proceeds, resulting in no significant increase in debt
leverage.  S&P could lower the ratings if the company's growth
plans hurt credit metrics or drain its liquidity beyond S&P's
expectations, exposing it to refinancing risks.  S&P could lower
the ratings if cash flow weakens, resulting in an FFO-to-total
debt ratio consistently less than 40% and a total debt-to-EBITDA
ratio of more than 2.5x.

A positive change in the ratings would depend on Multiplan
successfully completing its growth projects while sustaining
stronger cash-flow protection measures, such as a debt-to-EBITDA
ratio less than 1.0x and FFO-to-total debt ratio of more than 80%.
S&P would also expect the company to sustain positive FOCF,
adequate liquidity, and a smooth debt schedule.


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


ANALYTIC MARKET: Members to Hear Wind-Up Report on August 4
-----------------------------------------------------------
The members of Analytic Market Neutral V-6, Ltd. will hold their
final general meeting, on August 4, 2010, to receive 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


AUSTENITIC RESOURCES: Shareholders to Meet on July 23
-----------------------------------------------------
The shareholders of Austenitic Resources Ltd. will hold their
final general meeting, on July 23, 2010, at 12:45 p.m., to receive
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Walkers Corporate Services Limited
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002, Cayman Islands


CONOCOPHILLIPS: Shareholders to Hear Wind-Up Report on July 14
--------------------------------------------------------------
The shareholders of Conocophillips Libya Alliance Ltd. will hold
their final general meeting, on July 14, 2010, at 11:00 a.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Trident Liquidators (Cayman) Limited
         c/o Eva Moore
         Trident Trust Company (Cayman) Limited
         Telephone: (345) 949-0880
         Facsimile: (345) 949-0881
         P.O. Box 847, George Town
         Grand Cayman KY1-1103


CONOCOPHILLIPS BARENTS: Members to Hear Wind-Up Report on July 14
-----------------------------------------------------------------
The shareholders of Conocophillips Barents Sea Ltd. will hold
their final general meeting, on July 14, 2010, at 10:00 a.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Trident Liquidators (Cayman) Limited
         c/o Mrs. Eva Moore
         Trident Trust Company (Cayman) Limited
         Telephone: (345) 949-0880
         Facsimile: (345) 949-0881
         P.O. Box 847, George Town
         Grand Cayman KY1-1103


ELEXIR FUNDS: Members' Final Meeting Set for July 22
----------------------------------------------------
The members of Elexir Funds SPC will hold their final general
meeting, on July 22, 2010, at 4:00 p.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         DMS Corporate Services Ltd.
         c/o Bernadette Bailey-Lewis
         Telephone: (345) 946-7665
         Facsimile: (345) 946-7666
         dms House, 2nd Floor
         P.O. Box 1344, Grand Cayman KY1-1108


EVOL HOLDINGS: Shareholders to Hear Wind-Up Report on July 23
-------------------------------------------------------------
The shareholders of Evol Holdings, Ltd will hold their final
general meeting, on July 23, 2010, at 12:15 noon, to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Walkers SPV Limited
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002, Cayman Islands


ING CLARION: Shareholder to Hear Wind-Up Report on July 21
----------------------------------------------------------
The shareholder of ING Clarion U.S., Ltd will receive, on July 21,
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:

         Ogier
         c/o Madeleine Welham
         Telephone: (345) 815-1750
         Facsimile: (345) 949-9876


ING CLARION: Shareholder to Hear Wind-Up Report on July 21
----------------------------------------------------------
The shareholder of ING Clarion Europe, Ltd will receive, on
July 21, 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:

         Ogier
         c/o Madeleine Welham
         Telephone: (345) 815-1750
         Facsimile: (345) 949-9876


MARATHON GTF: Shareholders' Meeting Set for July 23
---------------------------------------------------
The shareholders of Marathon GTF Holdings Limited will hold their
final general meeting, on July 23, 2010, at 10:00 a.m., to receive
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Yvonne R. Kunetka
         Marathon Oil Company
         5555 San Felipe Street
         Houston Texas 77056-2799
         United States of America


MARATHON INTERNATIONAL: Shareholders' Meeting Set for July 23
-------------------------------------------------------------
The shareholders of Marathon International Petroleum Mercury
Limited will hold their final general meeting, on July 23, 2010,
at 10:00 a.m., to receive the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

         Yvonne R. Kunetka
         Marathon Oil Company
         5555 San Felipe Street
         Houston Texas 77056-2799
         United States of America


PANDENA INVESTMENT: Shareholders to Hear Wind-Up Report on July 14
------------------------------------------------------------------
The shareholders of Pandena Investment Limited. will hold their
final general meeting, on July 14, 2010, at 10:00 a.m., to receive
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Charles Hotton
         c/o Mrs. Eva Moore
         Trident Trust Company (Cayman) Limited
         Telephone: (345) 949-0880
         Facsimile: (345) 949-0881
         P.O. Box 847, George Town
         Grand Cayman KY1-1103


PHILLIPS DEEPWATER: Shareholders to Hear Wind-Up Report on July 14
------------------------------------------------------------------
The shareholders of Phillips Deepwater Africa Exploration Ltd.
will hold their final general meeting, on July 14, 2010, at
10:30 a.m., to receive the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

         Trident Liquidators (Cayman) Limited
         c/o Mrs. Eva Moore
         Trident Trust Company (Cayman) Limited
         Telephone: (345) 949-0880
         Facsimile: (345) 949-0881
         P.O. Box 847, George Town
         Grand Cayman KY1-1103


PLATINUM LIBRA: Shareholder to Hear Wind-Up Report on July 22
-------------------------------------------------------------
The shareholder of Platinum Libra Fund Limited will receive, on
July 22, 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:

         Ogier
         c/o Jo-Anne Maher
         Telephone: (345) 815-1762
         Facsimile: (345) 949-9877


PRISMA RISING: Shareholders to Hear Wind-Up Report on July 29
-------------------------------------------------------------
The shareholders of Prisma Rising Sun Fund Ltd. will hold their
final general meeting, on July 29, 2010, at 9:30 a.m., to receive
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Linburgh Martin
         Close Brothers (Cayman) Limited
         Harbour Place, Fourth Floor
         P.O. Box 1034, Grand Cayman KYI-1102


RC OPPORTUNITY: Members' Final Meeting Set for July 23
------------------------------------------------------
The members of RC Opportunity Fund Ltd will hold their final
general meeting, on July 23, 2010, at 4:00 p.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         DMS Corporate Services Ltd.
         c/o Bernadette Bailey-Lewis
         Telephone: (345) 946-7665
         Facsimile: (345) 946-7666
         dms House, 2nd Floor
         P.O. Box 1344, Grand Cayman KY1-1108


SB TB: Members to Hear Wind-Up Report on July 16
------------------------------------------------
The members of SB TB Holding Limited will hold their final general
meeting, on July 16, 2010, at 9:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Richard Finlay
         c/o Krysten Lumsden
         Telephone: (345) 814-7366
         Facsimile: (345) 945-3902
         P.O. Box 2681, Grand Cayman KY1-1111
         Cayman Islands


SB TRADING: Shareholders' Final Meeting Set for July 23
-------------------------------------------------------
The shareholders of SB Trading Co. II SPC will hold their final
general meeting, on July 23, 2010, at 11:45 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Walkers Corporate Services Limited
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002, Cayman Islands


TE ACLLP: Shareholders to Receive Wind-Up Report on July 23
-----------------------------------------------------------
The shareholders of TE ACLLP Portfolio, Ltd. will hold their final
general meeting, on July 23, 2010, at 1:00 p.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Walkers Corporate Services Limited
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002, Cayman Islands


TELECOM: Shareholders to Hear Wind-Up Report on July 23
-------------------------------------------------------
The shareholders of Telecom Infrastructure, Ltd. will hold their
final general meeting, on July 23, 2010, at 12:00 noon, to receive
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Walkers Corporate Services Limited
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002, Cayman Islands


TURKISH FALCON: Shareholders to Hear Wind-Up Report on July 23
--------------------------------------------------------------
The shareholders of Turkish Falcon 1, Ltd. will hold their final
general meeting, on July 23, 2010, at 12:30 noon, to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Walkers SPV Limited
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002, Cayman Islands


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


ECOPETROL SA: BP Hands Over Cupiagua Oil Field to Firm
------------------------------------------------------
After 28 years of joint administration, BP PLC handed over the
operation of the Cupiagua field in Colombia to its partner, state-
controlled oil firm Ecopetrol SA, Inti Landauro at Dow Jones
Newswires reports.  The report relates that the handover had been
planned.  BP had operated the field and had a 31% stake in the
venture, while Ecopetrol had 50% and French Total SA (TOT) held
the remaining 19%.

From now on it will run the field, which produces 26,000 barrels a
day, Ecopetrol SA said in a statement obtained by the news agency.
Cupiagua is in Colombia's central Casanare province.

According to the report, the increase of Ecopetrol SA's share of
the field's output was already factored into the company's target
of production for this year.  The report relates that the company
expects its total output to surpass 600,000 barrels of oil
equivalent a day by December 31, 2010.

Ecopetrol SA, the report notes, plans to invest US$28 million this
year in Cupiagua.

BP currently operates other fields in Casanare in partnership with
Ecopetrol SA and has long been scheduled to hand over those
operations to the state firm between 2016 and 2020, Dow Jones
Newswires says.

                      About Ecopetrol S.A.

Ecopetrol S.A. -- http://www.ecopetrol.com.co/-- is the largest
company in Colombia as measured by revenue, profit, assets and
shareholders' equity.  The company is Colombia's only vertically
integrated crude oil and natural gas Company with operations in
Colombia and overseas.  Ecopetrol is one of the 40 largest
petroleum companies in the world and one of the four principal
petroleum companies in Latin America.  It is majority owned by the
Republic of Colombia and its shares trade on the Bolsa de Valores
de Colombia S.A. under the symbol ECOPETROL. Colombia owns 90% of
Ecopetrol.  The company divides its operations into four business
segments that include exploration and production; transportation;
refining; and marketing of crude oil, natural gas and refined
products.

                           *     *     *

As of May 20, 2010, the company continues to carry Standard and
Poor's "BB+" LT Issuer Credit ratings. The company also continues
to carry Fitch Ratings' "BB+" LT FC Issuer Default ratings and
"BB+" Senior Unsecured Debt rating.


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


* ECUADOR: To Receive US$75-Million Loan From IDB
-------------------------------------------------
The Inter-American Development Bank has approved a US$75 million
loan for a project to expand and improve the coverage of
educational in outlying and remote areas of Ecuador.

The program will incorporate 40,000 new students into the
Ecuadorian educational system over the next three years.  The
students will be chosen from municipalities where unsatisfied
basic needs are high and educational offer is poor.  Rural,
frontier, and marginal urban areas will be preferred, as well as
those with higher presence of indigenous and/or afro-descedent
populations.

The program will support the implementation of full educational
curricula, from the initial stages through high school, in 45
zones relected in accordance with the educational decentralization
process approved by Ecuador.

The program will encourage the voluntary retirement of teachers,
as a way of renewing the teaching roster.  It is estimated that
1,750 teachers and technicians will take advantage of this
incentive and retire during the implementation of the program.
The retirees will be replaced and at least 1,300 new positions are
expected to be added, bringing the number of new teachers to a
total 3,050 in the selected areas.  The new positions will be
filled using a merit process and the new teachers will be
monitored for two years through a mentorship system.

The program also seeks to increase the inclusion in the school
system of children and youth of afro and indigenous descent,
especially those registering for early education and high school.

                          *     *     *

As of June 28, 2010, the country continues to carry Moody's "Caa2"
CC LT foreign bank deposit ratings, and "Caa3" foreign currency
issuer rating and foreign currency LT debt rating.


* ECUADOR: Negotiates US$1BB Loan With China Development Bank
-------------------------------------------------------------
Ecuador is negotiating with China Development Bank Corp. for a
US$1 billion loan to be repaid by the sale of oil or fuel oil from
state-run Petroecuador to China's state-owned PetroChina
International Co., Dow Jones Newswires reports.

According to the report, Ecuador is turning to China for financing
after a market-unfriendly sovereign debt buyback last year and
after relations soured with multilateral lenders such as the World
Bank and the International Monetary Fund, which badly hampered the
country's access to overseas private capital.  The report notes
that Ecuador is facing a budget deficit of more than US$4 billion
this year and needs the funding for public works projects to keep
an already sputtering economy from stalling.

Dow Jones Newswires says that Petroecuador will supply PetroChina
with 36,000 barrels of its Oriente and Napo crudes or fuel oil per
day until all amounts under the loan have been paid.

Last year, the report recalls, Ecuador and China suspended a
similar negotiation for a US$1 billion loan after Ecuador said the
conditions that China wanted on the credit "were unacceptable."

The report notes that a loan tranche of US$200 million will be
used for financing investment projects in Ecuador and the
remaining US$800 million will be available to the finance
ministry.  The report relates that the loan will have a fixed
interest rate of 6.5% and is expected to be paid off within four
years.

Petroecuador, Dow Jones Newswires says, will open an interest-
bearing account with China Development Bank in China.  The report
relates that the funds will accrue interest at an agreed upon rate
based on market conditions.  The account will be used to receive
payments for oil from PetroChina, the report adds.

                          *     *     *

As of June 28, 2010, the country continues to carry Moody's "Caa2"
CC LT foreign bank deposit ratings, and "Caa3" foreign currency
issuer rating and foreign currency LT debt rating.


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


AIR JAMAICA: Relaunches Direct Flights to Nassau
------------------------------------------------
Air Jamaica Limited relaunched direct flights between Nassau,
Kingston and Montego Bay following a re-organization of the
airline in the wake of a merger with Trinidad's Caribbean
Airlines, The Tribune reports.

According to the report, flights operating three times a week
between Nassau and Jamaica were suspended when Caribbean Airlines
took over operations on May 1.

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.


AIR JAMAICA: Divestment to Go Ahead as Planned, Jamaica PM Says
---------------------------------------------------------------
Alicia Roache at Jamaica Observer reports that Prime Minister
Bruce Golding said that he expected that the divestment of Air
Jamaica Limited will continue as planned despite a review of the
process by the new Trinidad and Tobago government led by Kamla
Persad Bissessar.

As reported in the Troubled Company Reporter-Latin America on
June 23, 2010, Jamaica Gleaner said that Trinidad and Tobago's new
Finance Minister Winston Dookeran has appointed a three-member
committee to probe the merger deal between Caribbean Airlines
Limited and Air Jamaica.  According to the report, the transaction
cost Trinidad and Tobago US$50 million to acquire and operate six
Air Jamaica aircraft and eight of its routes.  Jamaica got a 16%
stake in the merged operation, with CAL owning 84%.

                      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.


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


BANCO INBURSA: Fitch Affirms Support Rating Floor at 'B'
--------------------------------------------------------
Fitch Ratings has affirmed Banco Inbursa's ratings:

Inbursa:

  -- Long-term Issuer Default Rating at 'BBB';
  -- Short-term IDR at 'F2';
  -- Long-term local currency IDR at 'BBB';
  -- Short-term local currency IDR at 'F2';
  -- Individual rating at 'C';
  -- Support at '4';
  -- Support Rating Floor at 'B';
  -- National-scale long-term rating at 'AA+(mex)';
  -- National-scale short-term rating at 'F1+(mex)'.

The Rating Outlook is Stable.

Inbursa's ratings are driven by its outstanding loss absorption
capacity in the form of capital and loan loss reserves, improved
and more stable core earnings, a sound track record in credit risk
management in its key market of corporate lending, a gradually
growing franchise, and good liquidity.  Large borrower and
economic sector concentrations, ample market risk appetite, the
challenges associated to hefty recent loan growth, and the
potential for improving its overall business and funding mix, are
also factored in.  Inbursa has been actively seeking to improve
the business and risk profile on both sides of the balance sheet
and Fitch considers that recent strategic actions are positive and
supportive of a gradually enhancing credit profile.  However, most
of these changes, if proved successful and sustainable, would only
have a positive effect on the bank's ratings over a medium-term
horizon.

Upside potential on Inbursa's individual rating and/or IDRs is
contingent upon the gradual consolidation of recent positive
trends on the aforementioned key rating fundamentals.  Chief among
these is the bank's ability to sustain loan growth, revenue
improvements and asset quality, following sizable growth amid a
high risk aversion environment in the recent past.  Further
improvements in the bank's funding mix, and risk and revenue
diversification, could also enhance its overall credit profile.
In turn, downward pressure for the ratings would stem from a
significant decrease in its loss absorption capacity, and/or a
material increase in borrower concentrations or market risk
appetite, although Fitch considers this scenario is unlikely at
present.

Inbursa is one of the few banks whose performance has improved
recently.  Given the ample loan growth (2008: 71%; 2009: 9%), the
drivers of core earnings were enhanced, with wider margins and a
larger fee base, although the sustainability of these is still to
be tested under a gradually normalizing competitive environment.
Trading results continue adding some volatility to earnings, but
their relative contribution has somewhat decreased.  Sound
efficiency levels and a proven capacity to sustain sizable
impairment charges as a prudential credit risk management
strategy, are additional sources of comfort regarding the bank's
core profitability.  Inbursa has maintained throughout the cycle a
strong track record of credit losses in its core corporate lending
sector, although other sources of credit risk are significant in
the form of large obligor concentrations and/or relatively higher
exposure to more sensitive economic sectors.  In turn, market risk
is typically ample through its securities and derivatives
portfolio.  The equity/assets and regulatory capital ratios are
likely to remain around the 20% level.  Coupled with ample loan
loss reserves, Inbursa enjoys one of the strongest loss absorption
capacities among major Mexican banks.  Improving its funding mix
remains a key challenge over the medium term (loans/deposits
ratio: 121.4% as of 1Q'10), while it maintains an adequate level
of liquid assets.

Inbursa was Mexico's sixth largest bank at 1Q'10 by loans,
although it was the third largest player in commercial and
corporate lending, with roughly 15% of the system's loans in this
sector.  It belongs to a financial group named Grupo Financiero
Inbursa where the Slim family has a controlling stake, although
this was somewhat diluted in late 2008, when Spain's 'La Caixa'
acquired 20% of GFInbursa through a combination of capital
subscription and a secondary tender offer.


CREDITO INMOBILIARIO: Moody's Affirms Global Currency Rating
------------------------------------------------------------
Moody's de Mexico affirmed the ratings of Credito Inmobiliario,
S.A. de C.V. (national scale issuer rating at A3.mx, global local
currency rating at Ba3 and national scale short-term rating at MX-
2, global local currency short-term rating at Not Prime) and
revised the outlook to negative, from stable.

The outlook revision to negative reflects deterioration in Credito
Inmobiliario's portfolio quality, with a delinquent loan portfolio
above 20% (mostly for construction loans).  This trend has
resulted in weakening credit metrics, particularly fixed charge
coverage which is currently less than 1x.  Pressure on its credit
metrics will remain as economic indicators such as the
unemployment rate in Mexico are expected to remain weak, with only
modest improvement in 2010.  Moody's notes that the company's
reserves are sufficient to cover 100% of its current delinquent
portfolio.  Credito Inmobiliario is expected to receive
$2.4 billion Mx pesos to continue funding previously stalled
construction projects.  Moody's will closely monitor the company's
progress in addressing its high delinquent loan portfolio over the
next twelve to eighteen months.

Moody's does note that Credito Inmobiliario's liquidity position
is good, with $300 million Mexican pesos available in cash as well
as $750 million Mexican pesos in equity funding already received
from its parent company, Caja de Ahorros del Mediterraneo, this
year.  In addition, as part of a large Spanish financial
institution, Credito Inmobiliario benefits from larger loan-loss
reserves, which brings its capitalization rate well above Sociedad
Hipotecaria Federal's current standards of 12.5%, as of the end of
May the company's capitalization rate was approximately 23%.  The
ratings also incorporate the company's experienced management
team, good operating margins, loan processing and servicing
efficiencies, and technology systems, as well as its good
corporate infrastructure, which includes separation of duties
across business functions.

A return to stable would be predicated on improvement in the
delinquent loan portfolio to below 15% of total loans on a
sustained basis as well as fixed charge coverage above 1.1x
without any significant shifts in its current portfolio mix of
construction and individual mortgage loans.  A downgrade would
result should delinquent loans represent more than 20% of the
total on- and off-balance sheet portfolio on a sustained basis,
fixed charge coverage under 1x on a sustained basis or an adverse
shift in governmental housing policy.  Downward ratings pressure
would also result from construction loans as a percentage of total
loans growing to 70% of the aggregate loan book or operating
margins (as measured by EBITDA/Revenues) falling below 70%.

These ratings were affirmed with a negative outlook:

* Credito Inmobiliario, S.A. de C.V. -- national scale senior
  unsecured debt rating at A3.mx (global scale local currency
  senior unsecured debt rating at Ba3); national scale issuer
  rating at A3.mx (global scale local currency rating at Ba3);
  national scale short-term rating at MX-2 (global scale local
  currency rating at Not Prime)

The last rating action with respect to Credito Inmobiliario was on
June 18, 2009, when Moody's upgraded its national scale issuer
rating to A3.mx from Baa1.mx (global scale local currency issuer
rating to Ba3 from B1) and affirmed its MX-2 national scale short-
term rating (Not Prime global local currency short-term rating).
This action concluded the rating review started in April 2009.
The outlook was placed on stable.

Credito Inmobiliario is a non-bank financial institution (Sofom
Mortgage Company).  It is the fourth largest independent mortgage
originator of this kind in Mexico and its main activities consist
of extending mortgage loans financed by monies from SHF to low-
income individuals and providing construction financing to low-
income housing developers.  The firm reported total assets of
$15.4 billion Mx pesos and total equity of $1.0 billion Mx pesos
at March 31, 2010.

Credito Inmobiliario's ratings were assigned by evaluating factors
Moody's believe are relevant to the credit profile of the issuer,
such as i) the business risk and competitive position of the
company versus others within its industry, ii) the capital
structure and financial risk of the company, iii) the projected
performance of the company over the near to intermediate term, and
iv) management's track record and tolerance for risk.  These
attributes were compared against other issuers both within and
outside of Credito Inmobiliario's core industry and the company's
ratings are believed to be comparable to those of other issuers of
similar credit risk.


INFU TRUST: S&P Affirms 'BB' Ratings on US$180 Mil. Notes
---------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB' ratings on
Infu Trust's US$180 million 7.135% fixed-rate notes series 2005
due December 2013 and Mexican Unidades De Inversion 190.2 million
(MXN838.78 million equivalent; one UDI equals MXN4.41) 5.80%
fixed-rate notes series 2005 due December 2013.

The rating affirmations follow the July 1, 2010, amendments to
the transactions' indentures, which included changes on how
collected past-due leases will flow through the waterfall
during the third quarter of 2010.  Based on these amendments,
if the transactions' expenses and debt services are paid, the
performance triggers are cured, and excess cash is available,
Inmobiliaria Fumisa, S.A. De C.V. will be paid up to US$4 million
in cash and then US$2.3 million will go toward paying down the
notes.  Another amendment will require Fumisa to obtain consent
from the transactions' controlling parties before engaging in
activities with its affiliates or a major tenant and any other
activity that will have a material adverse impact on the
transactions.  In S&P's view, these amendments will not materially
affect the transactions' performance.

The transactions' current debt service coverage ratios are 1.19x.
S&P will continue to surveil the ratings on these transactions,
and S&P will revise them as necessary to reflect any future
changes in their underlying credit quality.

Fumisa is a Mexican-based company that Mexico City International
Airport contracted to operate and sublease commercial areas of the
airport.  The transaction benefits from U.S. dollar- and Mexican
peso-denominated cash flows derived from the assets sold to the
trust, overcollateralization, a reserve account, and a trigger
reserve account, as well as several trigger and early amortization
events designed to mitigate adverse events affecting the revenue
stream.


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


PETROLEOS DE VENEZUELA: Government Seizes 11 Helmerich Oil Rigs
---------------------------------------------------------------
Daniel Cancel at Bloomberg News reports that Venezuelan President
Hugo Chavez decreed the seizure of 11 Helmerich & Payne Inc. oil
rigs after the company idled its equipment because of a payment
dispute, Bloomberg News reports, citing a resolution published in
the Official Gazette.

According to the report, Petroleos de Venezuela SA President and
Oil Minister Rafael Ramirez traveled to Anaco, Anzoategui state,
to take control of the rigs and all gear associated with their
operation.  The report relates that some 600 rig workers, whom Mr.
Ramirez exhorted to look after the equipment when the planned
seizure was first announced last month, become PDVSA employees.
"We're here to comply with our revolutionary laws and to safeguard
our national interests," the report quoted Mr. Ramirez as saying.
"My recognition goes out to workers who watched over the rigs and
didn't allow the company to take them out of the country," he
added.

Mr. Ramirez, the report notes, said that Helmerich will be
compensated for the rigs.  But he didn't specify how much the
equipment is worth.

As reported in the Troubled Company Reporter-Latin America on
June 25, 2010, Bloomberg News said that Petroleos de
Venezuela SA is seeking the nationalization of 11 oil drilling
rigs owned by Helmerich & Payne Inc., which it accuses of trying
to slow oil production in Venezuela.  PDVSA will seek National
Assembly approval to seize the 11 rigs in Anzoategui state after a
long payment battle with Helmerich & Payne, Rafael Ramirez, oil
minister and president of PDVSA, said in an e-mailed statement
obtained by the news agency.  According to the report, Helmerich &
Payne idled its drilling rigs last year after PDVSA fell behind
with payments to service suppliers amid a drop in oil output and
revenue.

                            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"
local currency issuer rating.  The company also continues to carry
Standard and Poor's "B+" LT Issuer credit ratings.


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


* BOND PRICING: For the Week June 28, to July 2, 2010
-----------------------------------------------------

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


ARGENT- DIS              5.83   12/31/2033   ARS             94.8
ARGENT-$DIS              8.28   12/31/2033   USD           66.375
ARGENT-$DIS              8.28   12/31/2033   USD               60
ARGENT-$DIS              8.28   12/31/2033   USD             65.5
ARGENT-PAR               1.18   12/31/2038   ARS               54
ARGENT-?DIS              7.82   12/31/2033   EUR            56.75
ARGENT-?DIS              7.82   12/31/2033   EUR            56.75
ARGNT-BOCON PR13            2   3/15/2024    ARS             69.8
BANCO MACRO SA          10.75   6/7/2012     USD         67.87239
BUENOS AIRE PROV        9.375   9/14/2018    USD         72.71491
BUENOS AIRE PROV        9.625   4/18/2028    USD         71.28976
BUENOS AIRE PROV        9.375   9/14/2018    USD           72.643
MENDOZA PROVINCE          5.5   9/4/2018     USD          77.1576


BRAZIL

BNDES PARTICIP              6   1/15/2012    BRL               38
CESP                     9.75   1/15/2015    BRL         71.42242


CAYMAN ISLAND

BANIF FIN LTD               3   12/31/2019   EUR           72.413
BARION FUNDING           1.44   12/20/2056   GBP         31.69761
BARION FUNDING           0.63   12/20/2056   GBP         18.02957
BCP FINANCE CO          5.543                EUR         61.77929
BCP FINANCE CO          4.239                EUR         60.45833
BES FINANCE LTD         6.984   2/7/2035     EUR         64.18588
BES FINANCE LTD          5.58                EUR           64.077
CHINA MED TECH              4   8/15/2013    USD            67.25
CHINA SUNERGY            4.75   6/15/2013    USD           72.897
DUBAI HLDNG COMM            6   2/1/2017     GBP           71.151
EFG ORA FUNDING           1.7   10/29/2014   EUR         59.18294
ESFG INTERNATION        5.753                EUR         64.16667
FERTINITRO FIN           8.29   4/1/2020     USD             69.5
MAZARIN FDG LTD          1.44   9/20/2068    GBP         29.03879
PUBMASTER FIN           6.962   6/30/2028    GBP         70.85157
SHINSEI FIN CAYM        6.418                USD         63.82958
SHINSEI FIN CAYM        6.418                USD             62.8
SHINSEI FINANCE          7.16                USD               65
SOLARFUN POWER H          3.5   1/15/2018    USD             61.5
SUNTECH POWER               3   3/15/2013    USD            74.25
AGUAS NUEVAS              3.4   5/15/2012    CLP           0.5928


   PUERTO RICO


PUERTO RICO CONS          6.2   5/1/2017     USD               48
PUERTO RICO CONS          6.5   4/1/2016     USD               57

VENEZUELA

PETROLEOS DE VEN        5.125   10/28/2016   USD         50.51602
PETROLEOS DE VEN         5.25   4/12/2017    USD         53.04211
PETROLEOS DE VEN        5.375   4/12/2027    USD         44.12154
PETROLEOS DE VEN          5.5   4/12/2037    USD         43.14382
PETROLEOS DE VEN          4.9   10/28/2014   USD         56.57008
PETROLEOS DE VEN            5   10/28/2015   USD         52.28085
SIDETUR FINANCE            10   4/20/2016    USD               71
VENEZUELA                   7   12/1/2018    USD             57.5
VENEZUELA                7.75   10/13/2019   USD               58
VENEZUELA                   6   12/9/2020    USD             51.5
VENEZUELA                   9   5/7/2023     USD               61
VENEZUELA                8.25   10/13/2024   USD               56
VENEZUELA                9.25   9/15/2027    USD           65.975
VENEZUELA                7.65   4/21/2025    USD            53.75
VENEZUELA                9.25   5/7/2028     USD               61
VENEZUELA                5.75   2/26/2016    USD             61.5
VENEZUELA                9.25   9/15/2027    USD          63.9008
VENEZUELA                   7   3/31/2038    USD         50.44541
VENEZUELA                   7   3/31/2038    USD             51.5
VENZOD - 189000         9.375   1/13/2034    USD               61


                            ***********

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

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

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

                            ***********


S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter - Latin America is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick,
Maryland USA, Marites O. Claro, Joy A. Agravente, Rousel Elaine C.
Tumanda, Valerie C. Udtuhan, Frauline S. Abangan, and Peter A.
Chapman, Editors.


Copyright 2010.  All rights reserved.  ISSN 1529-2746.

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