TCRLA_Public/120831.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

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

            Friday, August 31, 2012, Vol. 13, No. 174


                            Headlines



A R G E N T I N A

COMPANIA FINANCIERA: Moody's Rates Debt Issuances 'B2'


B E R M U D A

KINGATE EURO: Court Appoints Mackellar as Joint Liquidator
KINGATE GLOBAL: Court Appoints Mackellar as Joint Liquidator


B R A Z I L

GRUPO ACP: S&P Affirms 'BB+' Issuer Credit Rating; Outlook Pos
* BRAZIL: Extends Tax Cuts on Cars to Revive Economic Growth


C A Y M A N   I S L A N D S

21 LIMITED: Sole Member Receives Wind-Up Report
DRZ LTD: Shareholders' Final Meeting Set for Sept. 13
EIDESIS SYNTHETIC: Shareholder to Hear Wind-Up Report on Sept. 14
EXPO HEALTH: Shareholders' Final Meeting Set for Sept. 19
FCM CAT: Shareholders' Final Meeting Set for Sept. 14

FCM CAT MASTER: Shareholders' Final Meeting Set for Sept. 14
GLOBAL TRADING: Shareholders' Final Meeting Set for Sept. 14
PLAINFIELD SPECIAL: Shareholders' Final Meeting Set for Sept. 13
RW SERVICES: Shareholders' Final Meeting Set for Sept. 13
WALLACE AUSTRALIA: Shareholders' Final Meeting Set for Sept. 14


J A M A I C A

WINDALCO: UC Rusal Reports Massive Drop in Profit


P A R A G U A Y

* PARAGUAY: S&P Affirms 'BB-/B' Sovereign Credit Ratings


P U E R T O   R I C O

AES PUERTO: Fitch Cuts Rating on Senior Bonds to 'BB'


T R I N I D A D  &  T O B A G O

CARIBBEAN AIRLINES: Beefs Up With New Aircraft


                            - - - - -


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


COMPANIA FINANCIERA: Moody's Rates Debt Issuances 'B2'
------------------------------------------------------
Moody's Investors Service has assigned a B2 global local currency
senior debt rating to the seventh expected issuance of Compania
Financiera Argentina S.A. (CFA) under its multi-currency US$ 250
million MTN program. The issuance is divided into two classes:
Class 1, up to the amount of Ar$30 million which will be due in
270 days, and Class 2, up to the amount of Ar$70 million which
will be due in 18 months. At the same time, Moody's Latin America
assigned Aa3.ar national scale local currency debt ratings to both
expected issuances.

The following ratings were assigned to Compania Financiera
Argentina S.A.'s debt issuances:

Class 1: AR$30 million senior unsecured debt issuance:

  B2 Global Local Currency Debt Rating

  Aa3.ar Argentina National Scale Local Currency Debt Rating

Class 2: AR$70 million senior unsecured debt issuance:

  B2 Global Local Currency Debt Rating

  Aa3.ar Argentina National Scale Local Currency Debt Rating

Ratings Rationale

Moody's noted that the local currency senior unsecured debt rating
derives from CFA's B2 global local currency deposit rating and
that seniority was taken into consideration in the assignment of
the debt ratings.

Compania Financiera Argentina S.A. is headquartered in Buenos
Aires, Argentina, and reported AR$2.775 million of total assets
and AR$847 million of shareholders' equity as of June 30, 2012.



=============
B E R M U D A
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KINGATE EURO: Court Appoints Mackellar as Joint Liquidator
----------------------------------------------------------
On July 25, 2012, the Supreme Court of Bermuda appointed Stuart
Mackellar as joint liquidator of Kingate Euro Fund, Ltd. in place
of Richard Fogerty, to act jointly with John McKenna and William
Tacon.

The Liquidator can be reached at:

         Stuart Mackellar
         Zolfo Cooper (BVI) Limited
         Palm Grove House, 2nd Floor
         Wickhams Cay 1, Road Town
         Tortola VG 1110
         British Virgin Islands


KINGATE GLOBAL: Court Appoints Mackellar as Joint Liquidator
------------------------------------------------------------
On July 25, 2012, the Supreme Court of Bermuda appointed Stuart
Mackellar as joint liquidator of Kingate Global Fund, Ltd. in
place of Richard Fogerty, to act jointly with John McKenna and
William Tacon.

The Liquidator can be reached at:

         Stuart Mackellar
         Zolfo Cooper (BVI) Limited
         Palm Grove House, 2nd Floor
         Wickhams Cay 1, Road Town
         Tortola VG 1110
         British Virgin Islands



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


GRUPO ACP: S&P Affirms 'BB+' Issuer Credit Rating; Outlook Pos
---------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on Grupo
ACP Inversiones Y Desarrollo to positive from stable. "At the same
time, we affirmed our 'BB+' rating on the company," S&P said.

"The rating on Grupo ACP is based on its role as the nonoperating
holding company of several financial and nonfinancial companies in
Latin America, including Mibanco Banco de la Microempresa S.A.
(BBB/Positive/A-2), its core subsidiary. The rating on Grupo ACP
benefits from Mibanco's 'adequate' business position, 'strong'
capital and earnings, 'adequate' risk position, 'average' funding,
and 'adequate' liquidity. The gap between the 'BB+' rating on
Grupo ACP and the 'BBB' rating on Mibanco is mainly because of
structural subordination. Grupo ACP's debtholders are subordinate
to Mibanco's senior debtholders," S&P said.


* BRAZIL: Extends Tax Cuts on Cars to Revive Economic Growth
------------------------------------------------------------
David Biller and Arnaldo Galvao at Bloomberg News report that
Brazil's government extended for two months a tax cut on vehicles
that has helped revive sales and spur growth in the world's
second-biggest emerging market.

Finance Minister Guido Mantega said that tax cuts on new car
purchases that were scheduled to expire this month will be remain
in place until the end of October, while ones on washing machines,
stoves and other home appliances will now last until the end of
the year, according to Bloomberg News.

The report notes that President Dilma Rousseff's government
reduced the so-called IPI tax for automobiles in May, helping to
spur vehicle sales from a second-quarter low of 257,887 in April
to 364,196 in July, according to figures from the national
carmakers association known as Anfavea.

The cuts boosted furniture and appliance sales 15.8% in June from
last year, and were the second-highest contributor to a 12.3%
increase in the broad retail sales index, the national statistics
agency said earlier this month, Bloomberg News says.  Sales of
cars, motorcycles and auto parts jumped 19.8 percent in June from
last year, the report relates.

Bloomberg News discloses that the central bank's economic activity
index rose 0.75% in June, the fastest pace in 15 months, adding to
evidence that the 500 basis points in interest rate cuts over the
past year and other efforts to boost growth are starting to take
hold.

Brazil's gross domestic product likely expanded 0.5% in the second
quarter, after growing 0.2% in the January- March period,
according to the median estimate of 50 analysts surveyed by
Bloomberg ahead of an Aug. 31 report.



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


21 LIMITED: Sole Member Receives Wind-Up Report
-----------------------------------------------
On Aug. 20, 2012, the sole member of 21 Limited received the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Jacqueline Loh
         Level 13 1 Queen's Road Central
         Hong Kong


DRZ LTD: Shareholders' Final Meeting Set for Sept. 13
-----------------------------------------------------
The shareholders of DRZ Ltd. will hold their final meeting on
Sept. 13, 2012, 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:

         Stuart Sybersma
         c/o Brad Kirby
         Deloitte & Touche
         Citrus Grove Building, 4th Floor
         Goring Avenue George Town KY1-1109
         Cayman Islands
         Telephone: +1(345) 814 3471


EIDESIS SYNTHETIC: Shareholder to Hear Wind-Up Report on Sept. 14
-----------------------------------------------------------------
The shareholder of Eidesis Synthetic Opportunities Fund, Ltd. will
receive on Sept. 14, 2012, at 9:00 a.m., 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
         c/o Jennifer Chailler
         Telephone: (345) 814 6847


EXPO HEALTH: Shareholders' Final Meeting Set for Sept. 19
---------------------------------------------------------
The shareholders of Expo Health Sciences Fund, Ltd. will hold
their final meeting on Sept. 19, 2012, 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:

         Richard Finlay
         c/o Tania Dons
         Telephone: (345) 814 7766
         Facsimile: (345) 945 3902
         P.O. Box 2681 Grand Cayman KY1-1111
         Cayman Islands


FCM CAT: Shareholders' Final Meeting Set for Sept. 14
-----------------------------------------------------
The shareholders of FCM Cat Fund, Ltd. will hold their final
meeting on Sept. 14, 2012, at 9:15 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
         c/o Jennifer Chailler
         Telephone: (345) 814 6847


FCM CAT MASTER: Shareholders' Final Meeting Set for Sept. 14
------------------------------------------------------------
The shareholders of FCM Cat Master Fund, Ltd. will hold their
final meeting on Sept. 14, 2012, at 8:45 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
         c/o Jennifer Chailler
         Telephone: (345) 814 6847


GLOBAL TRADING: Shareholders' Final Meeting Set for Sept. 14
------------------------------------------------------------
The shareholders of Global Trading Strategies (Cayman) Fund will
hold their final meeting on Sept. 14, 2012, 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:

         Walkers Corporate Services Limited
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814 6847


PLAINFIELD SPECIAL: Shareholders' Final Meeting Set for Sept. 13
----------------------------------------------------------------
The shareholders of Plainfield Special Situations Offshore Feeder
Fund II Limited will hold their final meeting on Sept. 13, 2012,
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.
         Bernadette Bailey-Lewis
         Telephone: (345) 946 7665
         Facsimile: (345) 946 7666
         dms House, 2nd Floor
         P.O. Box 1344 Grand Cayman KY1-1108
         Cayman Islands


RW SERVICES: Shareholders' Final Meeting Set for Sept. 13
---------------------------------------------------------
The shareholders of RW Services Ltd. will hold their final meeting
on Sept. 13, 2012, 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:

         Stuart Sybersma
         c/o Brad Kirby
         Deloitte & Touche
         Citrus Grove Building, 4th Floor
         Goring Avenue George Town KY1-1109
         Cayman Islands
         Telephone: +1(345) 814 3471


WALLACE AUSTRALIA: Shareholders' Final Meeting Set for Sept. 14
---------------------------------------------------------------
The shareholders of Wallace Australia Opportunities Fund will hold
their final meeting on Sept. 14, 2012, at 9:45 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
         c/o Jennifer Chailler
         Telephone: (345) 814 6847



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


WINDALCO: UC Rusal Reports Massive Drop in Profit
-------------------------------------------------
RJR News reports that Russian aluminum giant UC Rusal which has a
major stake in Jamaica's mining industry has suffered a massive
drop in profit.  UC Rusal is the parent firm of Windalco.

UC Rusal posted a net profit of US$143 million in the three months
ended June, according to RJR News.  The report relates that the
figure was well down from 502 million US dollars a year earlier.

RJR News notes that the company which has a stake in Windalco and
Alpart said lower costs and the depreciation of the trouble
against the US dollar had positively affected the results compared
with the previous quarter.

The company's earnings are highly sensitive to aluminum prices,
the report says.

RJR News says that a 10% increase in aluminum prices could nearly
double the company's 2013 earnings.

In the meantime, the report notes that UC Rusal, which is the
world's largest aluminum producer, has announced that it will cut
capacity three per cent by year end.

It said it was taking a charge on its investment in Africa, as it
grapples with weak prices and rising power costs, RJR News says.

UC Rusal has been hurt by persistently weak prices for the metal
used in drink cans, car parts, aircraft and iPads, the report
notes

RJR News relays that slack demand and overproduction have pushed
prices close to two-year lows.

RUSAL said it had net debt of US$10.9 billion at the end of June
but no short term obligations until the end of this year and it
repaid US$635 million in the first quarter, the report adds.

                         About WINDALCO

West Indies Alumina Company is situated on the island of Jamaica
in the Caribbean.  The company comprises two alumina refineries
(Ewarton Works and Kirkvine Works), a shipping port (Port
Esquivel) and also bauxite mines in Schwallenburgh (Ewarton) and
Russell Place (Kirkvine) and farms in Manchester and St. Ann.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
March 8, 2010, Jamaica Gleaner said that West Indies Alumina
Company will end its bauxite production in Jamaica and make 762
permanent jobs redundant.  The report related that the redundancy
exercise comes a year after the company suspended production at
its Kirkvine, Manchester, and Ewarton, St. Catherine, refineries
because of reduced demand for aluminium on the world market.  The
company is 93% owned by Russian entity, UC Rusal.



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


* PARAGUAY: S&P Affirms 'BB-/B' Sovereign Credit Ratings
--------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB-/B' foreign
and local currency sovereign credit ratings on the Republic of
Paraguay. "At the same time, we removed the ratings from
CreditWatch, where we placed them with negative implications on
June 25, 2012. The outlook is stable," S&P said.

"We removed the ratings from CreditWatch because, in our view, the
rapid impeachment of former president Fernando Lugo on June 22 and
the subsequent suspension of Paraguay from South American
political and free trade associations UNASUR and MERCOSUR have
had--and will likely continue to have--a limited impact on the
Paraguayan economy," said Standard & Poor's credit analyst Richard
Francis. "We expect that Paraguay will be reinstated to these
organizations after the April 2013 presidential election. Also,
economic sanctions were not imposed on Paraguay by the
Organization of American States in an Aug. 22, 2012, vote. In
addition, we expect the economy to rebound strongly in 2013 with a
bumper soya crop, driven by the end of the local drought and
record-high soya prices."

"We believe that the government has room to meet its projected
2012 and 2013 financing requirements of 2.1% of GDP and 1% of GDP,
respectively, through a combination of local debt issuance and the
use of general government deposits that total more than 10% of
GDP. The government also has the ability to reduce government
expenditures, if needed, if financing constraints become an issue.
Although we expect external financing to decline, the projected
current account deficits of $529 million in 2012 and $209 million
in 2013 can be partially financed through the use of the country's
international reserves, which total $4.8 billion, if needed," S&P
said.

"The stable outlook balances the country's narrow economy and
substantial infrastructure needs against the government's
improving fiscal underpinnings and low debt," said Mr. Francis.
"We could raise the ratings if important investment projects are
undertaken, which would further boost growth prospects and
external indicators. Additional reform measures in the areas of
debt management, financial supervision, and the recapitalization
of the central bank, a precursor to inflation targeting, would
also improve rating prospects."

"On the other hand, rapid credit growth that impairs external and
fiscal flexibility or leads to financial sector problems could
lead to a downgrade. We could also consider lowering the ratings
if the political and economic isolation of Paraguay is more severe
or lasts longer than we currently expect," S&P said.



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


AES PUERTO: Fitch Cuts Rating on Senior Bonds to 'BB'
-----------------------------------------------------
Fitch Ratings has downgraded AES Puerto Rico L.P.'s (AES-PR)
$161.87 million tax-exempt senior cogeneration facility revenue
bonds due 2026, and $33.1 million taxable senior cogeneration
facility revenue bonds due 2022 to 'BB' from 'BB+'.  The Rating
Outlook is revised to Stable from Negative.

The downgrade to 'BB' reflects sustained performance issues
despite management's efforts, increased operating costs related to
corrective maintenance and repairs to address forced outages, and
an inability to establish long-term, contracted ash management
arrangements.  The Stable Outlook reflects Fitch's expectation
that the project will be able to continue performing at levels
consistent with the revised rating.

Key Rating Drivers

  -- Revenue Stability: The 25-year tolling-style power purchase
     agreement (PPA) with an investment-grade counterparty
     effectively mitigates energy and fuel price risk through the
     debt term.  AES-PR has recently executed an additional sales
     agreement with the off-taker for up to 14 megawatts.
     Management believes that this will result in approximately
     $4 million in additional revenue annually.  However, failure
     to consistently meet PPA availability requirements has
     reduced fixed capacity payments.

  -- Operational Challenges: AES-PR has been susceptible to forced
     outages that have reduced availability and capacity payments.
     Management has taken a proactive approach to limiting future
     forced outages by planning for and making corrective repairs
     and establishing on-going monitoring and testing.  However,
     outages have persisted and it remains unclear whether
     completed and scheduled repairs will be sufficient to achieve
     targeted availability levels on a consistent basis.

  -- Higher Operating Cost Profile: The project's operating costs
     continue to exceed original projections due to corrective and
     preventative maintenance and repairs, as well as increased
     coal prices beginning in 2013.  Fitch notes that the
     project's heat rate has consistently exceeded the PPA
     contracted heat rate for fuel recovery, but the planned use
     of an alternative type of coal under a new supply arrangement
     is expected to improve the fuel cost recovery gap.

  -- Partial Ash Management Solution: AES-PR continues to actively
     manage its ash inventory via the sale of its AGREMAX product
     and raw, dry ash for the construction of rural roads,
     landfill covers, and waste water stabilization.  Currently,
     the majority of sales are on a project-by-project basis, but
     management indicated that there has been strong interest from
     waste management companies for long-term dry ash supply
     contracts.  Fitch believes that AES-PR's efforts have helped
     to offset near-term concerns, but cash flow uncertainty is
     increased without a permanent solution.

What Could Trigger A Rating Action:

  -- Operational Performance: Demonstrated ability or inability to
     improve and sustain equivalent availability factors above 90%
     or heat rate excursions for fuel cost recovery;

  -- Operating Costs: Consistently higher or lower cost profile
     from incremental maintenance, ash management, and fuel
     expenses/savings resulting in a material change in the
     financial cushion forecasted in the Fitch rating case.

SECURITY:

All project revenues, controlled bank accounts, and security
interest in the contract rights of AES-PR.

CREDIT SUMMARY:

The 12-month rolling average equivalent availability factor (EAF)
has generally been slightly below or at the 90% PPA requirement
for full capacity payments over the past year.  Fitch believes
that management's emphasis on forward-looking initiatives to
reduce forced outages should help improve the project's time
offline, but the long-term improvement and stabilization of the
EAF above the PPA requirements remains uncertain.  Favorably, the
project is expected to remain the lowest cost and largest
generator in Puerto Rico, maintaining its important role serving a
dedicated island system.

The Fitch rating case forecasts average debt service coverage
ratios (DSCRs) of over 1.2x during the next five years, consistent
with the assigned rating category, based on stressed levels of
availability, costs, heat rates, and interest rates.  However, the
DSCR profile becomes considerably weaker after 2020 when the
contractual capacity payment is reduced, resulting in coverage of
approximately 1.10x.  Fitch notes that this coincides with the
principal amortization period of the senior bonds and exposes
bondholders to longer term operational risks.

AES-PR is a special purpose entity that is an indirect wholly
owned facility of AES Corporation (rated 'BB-', Stable Outlook by
Fitch).  The project was formed in 1994 to own and operate a net
454.3 megawatt coal-fired circulating fluidized bed combustion
power plant in Guayama, Puerto Rico.  The project's main revenue
sources are capacity and energy sales to Puerto Rico Electric
Power Authority (rated 'BBB+', Negative Outlook) under the terms
of a 25-year PPA, which is a modified tolling agreement that
reimburses fuel (subject to heat rate requirements) and certain
other operating costs.



===============================
T R I N I D A D  &  T O B A G O
===============================


CARIBBEAN AIRLINES: Beefs Up With New Aircraft
----------------------------------------------
RJR News reports that Caribbean Airlines Limited said it will be
looking to meet competitors head on with the deployment of two new
aircraft.

The airline accepted delivery of one of the aircraft and said the
other, should be received soon, according to RJR News.

The report notes that Caribbean Airlines said with the new
aircraft, it will look to grow market share on its London, New
York and Toronto routes.

Caribbean Airlines had been wet leasing aircraft on the routes at
considerable cost, though it did not disclose how much the leasing
arrangements cost the airline, RJR News says.

It however said it expects to save on the cost, RJR News adds.

Caribbean Airlines Limited -- http://http://www.caribbean-
airlines.com/ -- provides passenger airline services.  It also
specializes in the shipment of fresh cut flowers and packaged
meats, hatching eggs, chocolates, fruits and vegetables, frozen
and chilled fish, vaccines, newspapers, and magazines within the
Caribbean, as well as to North America and Europe.

                          *     *     *

As reported in the Troubled Company Reporter on March 21, 2012,
RJR News said that Caribbean Airlines Limited owes nearly
US$30 million to Trinidad and Tobago's fuel provider National
Petroleum.  Trinidad Express said CAL enjoys a seven-day credit
facility for aviation fuel from the company, according to RJR
News.  However, the report related that the airline has not been
able to pay the full amount when invoiced and instead has been
issuing partial payments to sustain the account.  RJR News notes
that Trinidad Express reported that the arrears were built up
over the last six weeks as no payments have been made despite an
attractive fuel subsidy which the airline has enjoyed since it
began operations in January 2007.


                            ***********


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. Agravante, Rousel Elaine T.
Fernandez, Valerie U. Pascual, Ivy B. Magdadaro, Frauline S.
Abangan, and Peter A. Chapman, Editors.

Copyright 2012.  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 Peter Chapman at 240/629-3300.


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