TCRLA_Public/130304.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, March 4, 2013, Vol. 14, No. 44


                            Headlines



A R G E N T I N A

* Moody's Assigns (P)B3 Rating to Buenos Aires' New Notes Issue
* ARGENTINA: Won't Pay in Full on 11 Year-Old Debt
* ARGENTINA: Moody's Notes Nominal Growth of Insurance Industry


B R A Z I L

COSAN LUXEMBOURG: S&P Assigns 'BB' Rating to 10-Yr. Sr. Notes
COSAN LUXEMBOURG: Moody's Rates New USD400MM Senior Notes 'Ba2'


C A Y M A N  I S L A N D S

AMERICAN GENERAL: Shareholders Receive Wind-Up Report
ANALYTIC TOTAL: Shareholders Receive Wind-Up Report
ASPET INVESTMENTS: Shareholder Receives Wind-Up Report
AUBISQUE INVESTMENTS: Shareholder Receives Wind-Up Report
BARCLAYS MOSELLE NO 2: Shareholder Receives Wind-Up Report

BARCLAYS MOSELLE NO 3: Shareholder Receives Wind-Up Report
BLACK DIAMOND: Shareholders Receive Wind-Up Report
CARLYLE LOAN: Shareholders Receive Wind-Up Report
CLEVER LIMITED: Members Receive Wind-Up Report
CMT GLOBAL: Shareholder Receives Wind-Up Report

COLDSTREAM ALTERNATIVE: Shareholder Receives Wind-Up Report
COLOMBIERE INVESTMENTS: Shareholder Receives Wind-Up Report
DIKER M&S CAP: Shareholder Receives Wind-Up Report
DIKER MICRO: Shareholder Receives Wind-Up Report
EMERALD LIMITED: Members Receive Wind-Up Report

FPP (GENERAL PARTNER): Shareholder Receives Wind-Up Report
FPP JAPAN: Shareholder Receives Wind-Up Report
HAUTEVILLE INVESTMENTS: Shareholder Receives Wind-Up Report
HUNTER GLOBAL: Shareholder Receives Wind-Up Report
HUNTER GLOBAL SRI: Shareholder Receives Wind-Up Report

HUTCHISON HARBOUR: Shareholder Receives Wind-Up Report
IZOARD INVESTMENTS: Shareholder Receives Wind-Up Report
JESSICA CONSULTING: Shareholders Receive Wind-Up Report
KALLISTA CREDIT: Members Receive Wind-Up Report
KALLISTA CREDIT MASTER: Members Receive Wind-Up Report

KALLISTA CREDIT OPPORTUNITIES: Members Receive Wind-Up Report
KCP II OFFSHORE: Members Receive Wind-Up Report
LARRAU INVESTMENTS: Shareholder Receives Wind-Up Report
LATTEI INVESTMENT: Members Receive Wind-Up Report
MARIAH RE: Shareholder Receives Wind-Up Report

OTIS HOLDINGS: Members Receive Wind-Up Report
PALISADE MICROCAP: Shareholders Receive Wind-Up Report
PUYDEDOME INVESTMENTS: Shareholder Receives Wind-Up Report
STURA DEAL: Shareholders Receive Wind-Up Report
VENTOUX INVESTMENTS: Shareholder Receives Wind-Up Report

WHITE MOUNTAIN: Shareholders Receive Wind-Up Report
WHITNEY JAPAN: Shareholders Receive Wind-Up Report
WHITNEY JAPAN TRADING: Shareholders Receive Wind-Up Report
WW CHINA: Shareholders Receive Wind-Up Report
YAMANA GOLD: Members Receive Wind-Up Report


C O L O M B I A

BANCOLOMBIA: To Propose Up to US$2.4 Bil. Share Sale at Meeting


C O S T A  R I C A

* COSTA RICA: S&P Affirms 'BB' Sovereign Rating; Outlook Stable


J A M A I C A

* JAMAICA: Records Reduction in Trade Deficit With Caricom


M E X I C O

* MEXICO: Creditworthiness Will Depend on Reforms, Fitch Says


P U E R T O   R I C O

PR WIRELESS: Weak Performance Prompts Moody's to Cut CFR to Caa1


X X X X X X X X

* BOND PRICING: For the Week Feb. 25 to March 1, 2013




                            - - - - -


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


* Moody's Assigns (P)B3 Rating to Buenos Aires' New Notes Issue
---------------------------------------------------------------
Moody's Latin America has assigned ratings of (P)B3 (global scale)
and A3.ar (Argentina National Scale) to the Series 3 of notes to
be issued by the City of Buenos Aires under the Local Financing
Program for up to US$100 million, payable in Argentine pesos.

Series 1 and 2 under this program were issued in 2012, adding up
US$185 million and both were rated (P)B3 (global scale) and A3.ar
(Argentina National Scale).

The new series to be issued under the program will be subscribed
and payable in Argentine pesos at the specified exchange rate and
sold in the local capital market. The assigned ratings are in line
with the city's local currency debt ratings.

Ratings Rationale:

The creation of the Financing Program has been authorized by the
Law 4315. The notes to be issued under the program constitute
direct, general, unconditional, and unsubordinated obligations of
the city, ranking at all times pari passu without any preference
among themselves. Considering the new series, the program will
reach US$285 million, which represents around 20% of the city's
net direct and indirect debt as of 2012, and only 4% of total
revenues for that year.

The city will offer a third tranche of US$100 million with a
maturity of up to five years. These notes will be subscribed and
payable in Argentine pesos at the specified exchange rate and pay
interest at a fixed rate.

The assigned ratings are in line with the city's B3 (global scale)
and A3.ar (Argentina national scale) local currency debt ratings.
The rating level is in line with the B3 Sovereign rating. The
outlook is negative, reflecting the ongoing deterioration in
Argentina's operating environment, including a decelerating
economy and rising fiscal and foreign exchange pressures. Despite
the intrinsic financial characteristics of the City of Buenos
Aires, the lack of consistent and predictable policies at the
national level affects the institutional framework under which the
city operates and ultimately anchors its credit quality to that of
the Sovereign.

What Could Change the Rating Up/Down

Moody's does not expect upward pressures in the City of Buenos
Aires' ratings in the near to medium term. The city could be
further downgraded if the negative outlook on the sovereign rating
materializes into a rating downgrade. Furthermore, any action
taken by the central government that would negatively impact the
ability of the city to repay its financial obligations could lead
to a further downgrade. Any such actions would be viewed by
Moody's as further illustration of a deteriorating institutional
framework and an unstable policy environment.

The principal methodology used in this rating was Regional and
Local Governments published in January 2013 and Mapping Moody's
National Scale Ratings to Global Scale Ratings published in
October 2012.

Moody's National Scale Ratings (NSRs) are intended as relative
measures of creditworthiness among debt issues and issuers within
a country, enabling market participants to better differentiate
relative risks. NSRs differ from Moody's global scale ratings in
that they are not globally comparable with the full universe of
Moody's rated entities, but only with NSRs for other rated debt
issues and issuers within the same country. NSRs are designated by
an ".nn" country modifier signifying the relevant country, as in
".ar" for Argentina.

The last rating action was on December 17, 2012 when Moody's
assigned debt ratings of (P)B3/A3.ar.


* ARGENTINA: Won't Pay in Full on 11 Year-Old Debt
--------------------------------------------------
RJR News reports that Argentina has signalled to a US court that
it will resist demands by a group of investors to repay them in
full 11 years after its huge debt default.

A New York appeals court was hearing arguments after a previous
ruling that Argentina should pay US$1.3 billion dollars, according
to RJR News.

The report relates that Argentina refused to pay anything to
investors who declined to participate in a previous debt reduction
deal involving most of the nation's lenders.

The appeal comes after a Manhattan court ruled last February that
Argentina had violated its contractual obligation to treat all
creditors equally, the report says.

RJR News notes that this meant the country would have to pay the
bondholders.


* ARGENTINA: Moody's Notes Nominal Growth of Insurance Industry
---------------------------------------------------------------
The Argentine insurance industry, the third largest in Latin
America, has sustained significant nominal growth in recent years,
says Moody's Investors Service in its new report "Argentine
Insurance: Industry Scorecard."

Moody's industry scorecard is a point-in-time analysis of the
fundamental credit profile of a specific sector within the global
insurance industry. It should be read in conjunction with the
associated industry outlook, which presents the rating agency's
forward-looking view of sector trends and fundamentals.

Key attributes of the Argentine insurance sector highlighted by
Moody's include the industry's open-competitive structure, which
promotes operational efficiency, its relatively high degree of
product segmentation and development, and its strong financial
transparency and disclosure. These credit positives remain very
significantly tempered, however, by the country's high sovereign
credit risk profile (Argentine government bonds rated B3, negative
outlook) which sets the benchmark for insurers' asset quality, and
its weak Operating Environment, particularly as reflected in the
country's low scores for institutional and economic strength, as
well high susceptibility to political and economic event risks,
and modest penetration of insurance in the national economy, a
common characteristic in most developing market economies.

Notwithstanding offsetting strengths and weaknesses, the Argentine
insurance market has demonstrated consistent growth in recent
years. "Industry-wide gross premiums increased 27% in fiscal year
2012 as compared to 2011, based on Swiss Re Sigma 3/2012 report,"
said Nicolas Odella, a Moody's analyst and author of the report.
"Real growth, is considerably smaller, most likely in the single-
digit percentage range, excluding inflationary effects."

Moody's notes that expansion in the general insurance segment
remains linked to the overall performance of the domestic economy,
reflecting its commoditization and mandatory nature. Conversely,
the development and growth of long-term life insurance and
retirement savings products in Argentina are constrained by the
country's inflationary environment, the overall lack of confidence
in local institutions, the modest level of tax-deferral benefits,
and low cultural awareness regarding the importance of long-term
financial planning, says Moody's. Still, the new legal framework
passed by Congress will be credit positive for workers'
compensation insurers, who have experienced an increasingly
litigious environment in recent years as many claimants have
sought compensation beyond the intended scope of the system, says
Moody's.


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


COSAN LUXEMBOURG: S&P Assigns 'BB' Rating to 10-Yr. Sr. Notes
-------------------------------------------------------------
Standard & Poor's Ratings Services said that it assigned its 'BB'
issue-level rating to Cosan Luxembourg S.A.'s proposed 10-year
senior unsecured notes.  The rating on the issue reflects the
credit quality of Cosan Luxembourg's parent company, Cosan S.A.
Industria e Comercio (Cosan; BB/Positive/--), which will
irrevocably and unconditionally guarantee the notes.

Cosan will use the proceeds of the notes to refinance part of the
R$3.3 billion debenture proceeds, which it used to acquire
Companhia de Gas de Sao Paulo (Comgas) in November 2012.  In S&P's
view, this will help to smooth Cosan's debt amortizations and
improve its capital structure.

S&P has recently revised the outlook on Cosan to positive from
stable.  S&P expects that the Comgas' acquisition and Cosan's
increased cash flows derived from stable segments--such as gas and
fuel distribution and logistics--to result in more resilient and
predictable cash flows.  Stronger cash generation, which could
lower adjusted debt to EBITDA to less than 3.5x, coupled with the
maintenance of an adequate liquidity could lead to an upgrade.

RATINGS LIST

Cosan S.A. Industria e Comercio
  Corporate credit rating         BB/Positive/--

Rating Assigned

Cosan Luxembourg S.A.
  Senior unsecured notes*         BB

(Guaranteed by Cosan S.A. Industria e Comercio)


COSAN LUXEMBOURG: Moody's Rates New USD400MM Senior Notes 'Ba2'
---------------------------------------------------------------
Moody's Investors Service assigned a Ba2 foreign currency rating
to Cosan Luxembourg's proposed issuance of USD 400 million 10-year
senior unsecured notes. The Ba2/A1.br Corporate Family rating and
Ba2 existing senior notes rating are unaffected by this action.
The ratings outlook is stable. The proposed notes will be
unconditionally guaranteed by Cosan S.A. Proceeds will be used to
repay part of the company's BRL 3.3 billion debentures, used to
fund the Comgas acquisition.

Ratings Rationale:

Cosan's Ba2 ratings reflect primarily the company's diversified
portfolio of businesses, including the entire sugar-ethanol chain,
fuel and lubes distribution, land management, and commodities
transportation and logistics in Brazil. The acquisition of a 60.1%
in gas distributor Comgas (Baa3 Stable), concluded on November
5th, will further diversify the company's earnings stream and
translate into a more stable cash source over the long-term.
Moreover, Moody's expects Raizen and Comgas to distribute a
significant amount of dividends over the next several years, which
will represent the bulk of the company's cash generation.

Constraining the ratings is Cosan's acquisitive profile, which
includes, in addition to Comgas, the potential acquisition of a
5.67% stake in ALL (Ba3/Stable) amounting to BRL 897 million.
Comgas transaction pressured Cosan's credit metrics in the short-
term, leading to an increase in pro-forma adjusted gross leverage
(including Comgas but excluding Raizen) to about 5.0x in December
2012, . Moreover, Moody's views execution risks related to the
integration of such different operations to be high and could
impact financial performance and reduce management focus.

Moody's considers Cosan's current liquidity as adequate. Its
reported cash position of BRL 2.3 billion as of December 2012 is
sufficient to cover short term debt by about 1.3x. With the
incorporation of Comgas, Cosan's capital expenditures would
increase by about BRL 600 million to BRL 3.3 to 3.5 billion per
year by Moody's estimates. In Moody's view, this could reduce
liquidity in the case of a lower than expected dividend stream.
Moreover, Cosan's liquidity commitment in the joint up to USD 500
million committed facility with Shell to Raizen in case of
emergency financial needs may be an additional call on Cosan's
liquidity. Although not likely, given Raizen's strong credit
profile, Moody's estimates that Cosan could have a cash
disbursement of at least BRL 300 million as a result of this
commitment.

Cosan's notes may be subject to structural subordination depending
on the future debt and guarantee structure at its subsidiaries and
could be notched down from the CFR.

The stable outlook reflects Moody's view that Cosan will be able
to fund future capital investments with cash generation and also
from the dividends inflow from Raizen and Comgas, thus being able
to maintain leverage below 3.5x over time and profitability near
current levels. It also considers that the company will conduct
any future acquisition plans in a prudent manner, in order not to
impact its current credit metrics.

The ratings could be upgraded if Cosan proves able to integrate
its recent acquisitions, while preserving cash generation and
current credit metrics. Quantitatively, that would be the case if
leverage approaches 3.0x, CFO/Net Debt above 35% and
EBITA/interest expense higher than 4.0x.

A downgrade could result from a deterioration in liquidity and
also from the inability of keeping operating margins near current
levels. More specifically, the ratings could be downgraded if
total adjusted debt to EBITDA is sustained above 4.0x, CFO/Net
Debt less than 20% and EBITA/ interest expense below 3.5x. A large
debt funded acquisition could also put downward pressure on the
rating.

Headquartered in Sao Paulo, Cosan S.A. Industria e Comercio, is a
conglomerate with businesses in the sugar & ethanol space, fuel
and gas distribution, land management of agricultural properties,
logistics and production and commercialization of lubes. For the
LTM period ended in December, 2012 the company posted net sales of
BRL 27.3 billion and adjusted EBITDA margin of 12.7%.

The company's largest assets are Raizen (50% stake) and Comgas
(60% stake). Raizen (Baa3 Stable), formed through a 50-50 JV with
Shell, is globally one of the leading players in the growing of
sugar and ethanol business, with an installed crushing capacity of
65 million tons of sugarcane, and domestically the third largest
fuel distributor, with 4,700 service stations principally under
the Shell brand. Comgas (Baa3 Stable) is the largest distributor
of natural gas in Brazil, with a concession area that covers 27%
of country's GDP. Since Comgas' acquisition was closed in
November, 2012 only two months of financials were so far
consolidated into Cosan's results. Cosan also produces and
distributes lubes and base oils under the Mobil brand; has a 75%
stake in Rumo, a leading logistics provider for the transportation
and loading of sugar and has a 37.7% stake in Radar, a land
management company with various interests in agricultural
properties. The acquisition of a 5.7% stake in ALL, a provider of
rail and trucking logistics services with six concessions in
Brazil and Argentina, is still pending.


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


AMERICAN GENERAL: Shareholders Receive Wind-Up Report
-----------------------------------------------------
On Jan. 18, 2013, the shareholders of American General CBO 2000-1
Ltd. received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         David Dyer
         Telephone: (345) 949-8244
         Facsimile: (345) 949-5223
         P.O. Box 1984 Grand Cayman KY1-1104
         Cayman Islands


ANALYTIC TOTAL: Shareholders Receive Wind-Up Report
---------------------------------------------------
On Jan. 17, 2013, the shareholders of Analytic Total Return
Volatility Fund, Ltd. received the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Analytic Investors, LLC
         c/o Dennis Roy
         555 West Fifth Street, 50th Floor
         Los Angeles, California 90013
         United States of America
         Telephone: + (121) 3787-9761


ASPET INVESTMENTS: Shareholder Receives Wind-Up Report
------------------------------------------------------
On Jan. 18, 2013, the shareholder of Aspet Investments Limited
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814-6847/ (345) 914-3115


AUBISQUE INVESTMENTS: Shareholder Receives Wind-Up Report
---------------------------------------------------------
On Jan. 18, 2013, the shareholder of Aubisque Investments Limited
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814-6847/ (345) 914-3115


BARCLAYS MOSELLE NO 2: Shareholder Receives Wind-Up Report
----------------------------------------------------------
On Jan. 18, 2013, the shareholder of Barclays Moselle No 2
Investments Limited received the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814-6847/ (345) 914-3115


BARCLAYS MOSELLE NO 3: Shareholder Receives Wind-Up Report
----------------------------------------------------------
On Jan. 18, 2013, the shareholder of Barclays Moselle No 3
Investments Limited received the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814-6847/ (345) 914-3115


BLACK DIAMOND: Shareholders Receive Wind-Up Report
--------------------------------------------------
On Jan. 18, 2013, the shareholders of Black Diamond CLO 2000-1
Ltd. received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         David Dyer
         Telephone: (345) 949-8244
         Facsimile: (345) 949-5223
         P.O. Box 1984
         Grand Cayman KY1-1104
         Cayman Islands


CARLYLE LOAN: Shareholders Receive Wind-Up Report
-------------------------------------------------
On Jan. 18, 2013, the shareholders of Carlyle Loan Investment Ltd
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Intertrust SPV (Cayman) Limited
         87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 914-3115


CLEVER LIMITED: Members Receive Wind-Up Report
----------------------------------------------
On Jan. 16, 2013, the members of Clever Limited received the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Eagle Holdings Ltd.
         c/o Barclays Private Bank & Trust (Cayman) Limited
         FirstCaribbean House, 4th Floor
         P.O. Box 487
         Grand Cayman KY1-1106
         Cayman Islands


CMT GLOBAL: Shareholder Receives Wind-Up Report
-----------------------------------------------
On Jan. 18, 2013, the shareholder of CMT Global Fund Limited
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814-6847/ (345) 914-3115


COLDSTREAM ALTERNATIVE: Shareholder Receives Wind-Up Report
-----------------------------------------------------------
On Jan. 18, 2013, the shareholder of Coldstream Alternative
Strategies Fund, Ltd. received the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

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


COLOMBIERE INVESTMENTS: Shareholder Receives Wind-Up Report
-----------------------------------------------------------
On Jan. 18, 2013, the shareholder of Colombiere Investments
Limited received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814-6847/ (345) 914-3115


DIKER M&S CAP: Shareholder Receives Wind-Up Report
--------------------------------------------------
On Jan. 18, 2013, the shareholder of Diker M&S Cap Master, Ltd.
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


DIKER MICRO: Shareholder Receives Wind-Up Report
------------------------------------------------
On Jan. 18, 2013, the shareholder of Diker Micro and Small Cap
Offshore Fund, Ltd. received the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

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


EMERALD LIMITED: Members Receive Wind-Up Report
-----------------------------------------------
On Jan. 22, 2013, the members of Emerald Limited received the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


FPP (GENERAL PARTNER): Shareholder Receives Wind-Up Report
----------------------------------------------------------
On Jan. 18, 2013, the shareholder of FPP (General Partner) Inc.
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


FPP JAPAN: Shareholder Receives Wind-Up Report
----------------------------------------------
On Jan. 18, 2013, the shareholder of FPP Japan Fund Inc. received
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


HAUTEVILLE INVESTMENTS: Shareholder Receives Wind-Up Report
-----------------------------------------------------------
On Jan. 18, 2013, the shareholder of Hauteville Investments
Limited received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814-6847/ (345) 914-3115


HUNTER GLOBAL: Shareholder Receives Wind-Up Report
--------------------------------------------------
On Jan. 18, 2013, the shareholder of Hunter Global Investors
Offshore Fund Ltd. received the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814-6847/ (345) 914-3115


HUNTER GLOBAL SRI: Shareholder Receives Wind-Up Report
------------------------------------------------------
On Jan. 18, 2013, the shareholder of Hunter Global Investors SRI
Fund Ltd. received the liquidator's report on the company's wind-
up proceedings and property disposal.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814-6847/ (345) 914-3115


HUTCHISON HARBOUR: Shareholder Receives Wind-Up Report
------------------------------------------------------
On Jan. 8, 2013, the shareholder of Hutchison Harbour Ring
Holdings Limited received the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

         Ying Hing Chiu
         Three Pacific Place, Level 28
         1 Queen's Road East
         Hong Kong
         Telephone: (852) 2980-1988
         Facsimile: (852) 2882-6700


IZOARD INVESTMENTS: Shareholder Receives Wind-Up Report
-------------------------------------------------------
On Jan. 18, 2013, the shareholder of Izoard Investments Limited
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814-6847/ (345) 914-3115


JESSICA CONSULTING: Shareholders Receive Wind-Up Report
-------------------------------------------------------
On Dec. 28, 2012, the shareholders of Jessica Consulting Ltd.
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         MBT Trustees Ltd.
         Telephone: 945-8859
         Facsimile: 949-9793/4
         P.O. Box 30622
         Grand Cayman KY1-1203
         Cayman Islands


KALLISTA CREDIT: Members Receive Wind-Up Report
-----------------------------------------------
On Jan. 7, 2013, the members of Kallista Credit Arbitrage Fund
Limited received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Hugh Dickson
         c/o Phillip Tyrrell
         10 Market Street, Box 765
         Camana Bay
         Grand Cayman KY1-9006
         Cayman Islands
         Telephone: (345) 769-7204
         Facsimile: (345) 949-7120


KALLISTA CREDIT MASTER: Members Receive Wind-Up Report
------------------------------------------------------
On Jan. 7, 2013, the members of Kallista Credit Arbitrage Master
Fund Limited received the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

         Hugh Dickson
         c/o Phillip Tyrrell
         10 Market Street, Box 765
         Camana Bay
         Grand Cayman KY1-9006
         Cayman Islands
         Telephone: (345) 769-7204
         Facsimile: (345) 949-7120


KALLISTA CREDIT OPPORTUNITIES: Members Receive Wind-Up Report
-------------------------------------------------------------
On Jan. 7, 2013, the members of Kallista Credit Opportunities Fund
Limited received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Hugh Dickson
         c/o Phillip Tyrrell
         10 Market Street, Box 765
         Camana Bay
         Grand Cayman KY1-9006
         Cayman Islands
         Telephone: (345) 769-7204
         Facsimile: (345) 949-7120


KCP II OFFSHORE: Members Receive Wind-Up Report
-----------------------------------------------
On Jan. 17, 2013, the members of KCP II Offshore Ltd. received the
liquidator's report on the company's wind-up proceedings and
property disposal.


LARRAU INVESTMENTS: Shareholder Receives Wind-Up Report
-------------------------------------------------------
On Jan. 18, 2013, the shareholder of Larrau Investments Limited
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814-6847/ (345) 914-3115


LATTEI INVESTMENT: Members Receive Wind-Up Report
-------------------------------------------------
On Dec. 28, 2012, the members of Lattei Investment Ltd. received
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         MBT Trustees Ltd.
         P.O. Box 30622 Grand Cayman KY1-1203
         Cayman Islands
         Telephone: 945-8859
         Facsimile: 949-9793/4


MARIAH RE: Shareholder Receives Wind-Up Report
----------------------------------------------
On Jan. 7, 2013, the shareholder of Mariah Re Ltd. received the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Carl Gosselin
         c/o Wilmington Trust (Cayman), Ltd.
         P.O. Box 32322
         Grand Cayman KY1-1209
         Cayman Islands
         Telephone: (345) 640-6712


OTIS HOLDINGS: Members Receive Wind-Up Report
---------------------------------------------
On Jan. 16, 2013, the members of Otis Holdings Limited received
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Eagle Holdings Ltd.
         c/o Barclays Private Bank & Trust (Cayman) Limited
         FirstCaribbean House, 4th Floor
         P.O. Box 487
         Grand Cayman KY1-1106
         Cayman Islands


PALISADE MICROCAP: Shareholders Receive Wind-Up Report
------------------------------------------------------
On Jan. 18, 2013, the shareholders of Palisade Microcap Partners
(Cayman) Ltd. received the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

         Dennison Veru
         c/o Palisade Capital Management, L.L.C.
         One Bridge Plaza
         Suite 695, Fort Lee
         New Jersey 07024
         United States of America
         Telephone: +1 (201) 585-5433


PUYDEDOME INVESTMENTS: Shareholder Receives Wind-Up Report
----------------------------------------------------------
On Jan. 18, 2013, the shareholder of Puydedome Investments Limited
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814-6847/ (345) 914-3115


STURA DEAL: Shareholders Receive Wind-Up Report
-----------------------------------------------
On Jan. 18, 2013, the shareholders of Stura Deal Limited received
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         David Dyer
         Telephone: (345) 949-8244
         Facsimile: (345) 949-5223
         P.O. Box 1984
         Grand Cayman KY1-1104
         Cayman Islands


VENTOUX INVESTMENTS: Shareholder Receives Wind-Up Report
--------------------------------------------------------
On Jan. 18, 2013, the shareholder of Ventoux Investments Limited
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814-6847/ (345) 914-3115


WHITE MOUNTAIN: Shareholders Receive Wind-Up Report
---------------------------------------------------
On Jan. 18, 2013, the shareholders of White Mountain Securities
Limited received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         David Dyer
         Telephone: (345) 949-8244
         Facsimile: (345) 949-5223
         P.O. Box 1984
         Grand Cayman KY1-1104
         Cayman Islands


WHITNEY JAPAN: Shareholders Receive Wind-Up Report
--------------------------------------------------
On Jan. 18, 2013, the shareholders of Whitney Japan Feeder I
Limited received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         David Dyer
         Telephone: (345) 949-8244
         Facsimile: (345) 949-5223
         P.O. Box 1984
         Grand Cayman KY1-1104
         Cayman Islands


WHITNEY JAPAN TRADING: Shareholders Receive Wind-Up Report
----------------------------------------------------------
On Jan. 18, 2013, the shareholders of Whitney Japan Trading
Limited received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         David Dyer
         Telephone: (345) 949-8244
         Facsimile: (345) 949-5223
         P.O. Box 1984
         Grand Cayman KY1-1104
         Cayman Islands


WW CHINA: Shareholders Receive Wind-Up Report
---------------------------------------------
On Jan. 11, 2013, the shareholders of WW China Global Connection
Fund Ltd. received the liquidator's report on the company's wind-
up proceedings and property disposal.

The company's liquidator is:

         Gene Dacosta
         Telephone: (345) 814-7765
         Facsimile: (345) 945-3902
         PO Box 2681
         Grand Cayman KY1-1111
         Cayman Islands


YAMANA GOLD: Members Receive Wind-Up Report
-------------------------------------------
On Jan. 8, 2013, the members of Yamana Gold Holdings (Cayman) II
Ltd. received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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



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


BANCOLOMBIA: To Propose Up to US$2.4 Bil. Share Sale at Meeting
---------------------------------------------------------------
Christine Jenkins at Bloomberg News reports that Bancolombia SA
will propose a preferred stock sale of up to US$2.4 billion at its
March 4 shareholders meeting.

Bloomberg News relates that the board of directors seeks
shareholder approval to sell up to 148.2 million of preferred
shares, to be issued in one or several tranches, according to the
proposal on the bank's Web site.  The board may decide to sell the
shares in the local market or abroad, according to the statement,
which wasn't dated, notes the report.

Bloomberg News notes that Bancolombia SA agreed to pay $2.1
billion for HSBC Holdings Plc's Panama unit in its biggest-ever
acquisition, it said on Feb. 19.

Chief Executive Officer Carlos Yepes said in a Feb. 26 radio
interview that the bank was considering a share sale to meet new
global banking regulations and for its future expansion plans,
Bloomberg News adds.

As reported in the Troubled Company Reporter-Latin America on
Feb. 7, 2013, Moody's Investors Service downgraded the long term
foreign currency subordinated debt ratings of Bancolombia S.A.,
Bancolombia S.A.: Long term foreign currency subordinated debt
ratings to Ba1, from Baa3, with a stable outlook.


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


* COSTA RICA: S&P Affirms 'BB' Sovereign Rating; Outlook Stable
---------------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its
'BB/B' long- and short-term sovereign credit ratings on Costa
Rica.  The outlook remains stable.  S&P's 'BBB-' transfer and
convertibility (T&C) assessment is unchanged.

"The ratings on the Republic of Costa Rica balance the country's
limited monetary and exchange rate flexibility and persistent
fiscal pressures with good prospects for long-term GDP growth, a
stable political system, relatively high social development, and
modest current account deficits largely funded by net foreign
direct investment," said Standard & Poor's credit analyst Joydeep
Mukherji.

"We expect real GDP per capita to expand 2.7% in 2013, sustained
by an increasingly diverse base of both manufacturing and service
exports.  Recent growth in the export of commercial services,
along with electronic products, and medical devices, augurs well
for long-term GDP and export growth.  Foreign exchange reserves,
which have covered about 2.5 months of current account payments in
recent years, are likely to increase to more than three months
this year, boosting external liquidity.  Nevertheless, rigid
spending commitments will contribute to a fiscal deficit of 4%-5%
of GDP this year, leading to a modest rise in Costa Rica's net
general government burden to just above 30% of GDP," S&P said.

The stable outlook reflects S&P's expectation that the government
will undertake minor steps to boost tax revenues in order to
contain its fiscal deficit at levels that imply an only modest
increase in the general government debt burden.  Good economic
prospects, along with high levels of foreign direct investment
that largely fund the country's current account deficit (perhaps
around 5%-6% of GDP in 2013), contain the risk of a sudden loss of
external liquidity.

Failure to strengthen fiscal revenues after the 2014 national
elections could result in prolonged fiscal deficits that lead to a
gradual rise in the country's debt burden.  Moreover, the
combination of heavy government borrowing and central bank losses
could complicate the management of monetary policy.  In addition,
lack of tax reform could continue to limit public-sector
investment to its currently low level, reducing the country's
long-term growth prospects.  The resulting erosion of external and
fiscal profiles could lead S&P to lower the sovereign rating.

Conversely, the combination of good GDP growth and tax reform that
helps stabilize the government's debt burden, along with progress
toward greater monetary and exchange rate flexibility, could
strengthen the country's economic resilience, leading S&P to raise
the rating.


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


* JAMAICA: Records Reduction in Trade Deficit With Caricom
----------------------------------------------------------
RJR News reports that Jamaica has recorded a reduction in its
trade deficit with Caribbean Community (Caricom).

Data released show the gap between imports and exports during
January to November last year amounted to US$743.5 million,
according to RJR News.  The report relates that this represented a
decline of US$157 million or 17.5% below the US$900 million
deficit recorded in the previous year.

Goods imported from Caricom fell 15% or US$143 million to US$820
million due largely to reduced spending on fuels, RJR News notes.

At the same time, exports were up 22.7% or US$14 million to
US$76.8 billion, RJR News adds.


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


* MEXICO: Creditworthiness Will Depend on Reforms, Fitch Says
-------------------------------------------------------------
Mexico's credit trajectory will be influenced by the progress the
new administration makes on reforms to boost competitiveness,
productivity, economic growth and fiscal flexibility, according to
a new Fitch Ratings report published February 28, 2013. Improving
domestic demand dynamics would be essential for Mexico to maintain
a healthy growth trajectory, given the sluggish U.S. economy.

'The labor and education reforms passed in December are steps in
the right direction to boost formal jobs, improve education
standards and engender faster productivity growth in the medium
term,' said Shelly Shetty, Head of Fitch's Latin America Sovereign
Group.

'However, while the initial progress on reforms is encouraging,
complicated political negotiations lie ahead with regard to
pending reforms. The content and scope of future reforms is still
uncertain making it difficult to decisively assess the impact of
future reforms on Mexico's creditworthiness,' said Shetty.

Delays are already evident for the much-needed energy reform, and
political resistance and opposition by the Pemex union may
ultimately undermine the scope of this reform. Similarly, other
pending reforms may be susceptible to delays and dilution as
vested interests lobby against material changes.

High on the priority list are fiscal reforms. Revenue-enhancing
measures to reduce the current reliance on oil income and address
the high levels of tax evasion, mainly caused by significant labor
informality, would allow the government to increase expenditures
without compromising fiscal responsibility.

The new administration also intends to submit reform proposals
that establish fiscal rules for states' budget balances to control
debt at the local level, which has been steadily increasing. The
government also plans to promote financial intermediation and
expand the scope of development banks.


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


PR WIRELESS: Weak Performance Prompts Moody's to Cut CFR to Caa1
----------------------------------------------------------------
Moody's Investors Service downgraded PR Wireless, Inc.'s corporate
family rating to Caa1 from B3 and probability of default rating to
Caa1-PD from B3-PD. Moody's also downgraded to Caa1 from B3 the
ratings on the company's senior secured bank credit facilities.
The ratings outlook is negative.

Ratings Rationale:

The ratings downgrades were based on PR Wireless' weaker than
expected operating performance, which has impacted the company's
liquidity position and credit metrics. While the announced sale of
10 MHz of spectrum for USD 35 million will provide for some debt
reduction and liquidity relief in the short term, the limited
prospects for a sharp operating turnaround suggest that weak
EBITDA generation will continue to pressure the company's credit
metrics and liquidity position for some time. Moody's estimates
that, as of December 2012, PR Wireless may not be in compliance
with its maximum leverage and minimum interest coverage financial
covenants under the banking credit agreements, which were amended
during the first half of 2012. Moody's estimates that, in 2013, PR
Wireless' adjusted debt leverage will be above 5 times. Moody's
adjusted debt reflects capitalized leases and 25% debt attributed
to preferred stock.

PR Wireless' Caa1 ratings are principally based on its weak
operating performance and tight liquidity position. Ratings are
also based on the company's small revenue size relative to its
peers, which include AT&T and America Movil, as well as its small
market share, estimated by the company at 11%. During 2012,
Moody's believes that PR Wireless' subscriber base decreased and
operating margins fell as a result of competitive pressures;
higher handset subsidies and other operating costs; and the weak
economic environment in Puerto Rico. Moody's expects competition
to remain intense or increase even further, especially as major
carriers work to expand their service offerings in the country.

PR Wireless' liquidity position is weak, although it could improve
if the company manages to reach a reasonable amendment to the bank
credit agreements. Moody's base case scenario assumes that a lower
debt burden and a more comfortable repayment schedule coupled with
the company's expected EBITDA for the remainder of 2013 and most
of 2014 should be sufficient to cover cash outflows during the
period, which include taxes, interest payments, upcoming debt
amortizations, working capital and limited capex. Moody's also
assumes that, going forward, the company would have no access to
the undrawn portion of the revolving credit line.

The negative outlook reflects the challenges the company faces to
revert the negative operating trend, which would impact the
company's liquidity position and ability to invest for growth.

Further rating downgrades would be merited if PR Wireless'
liquidity situation deteriorates further; if its near-term debt
maturity is not promptly addressed; or if it is not able to post
increasing revenues and margins, at least marginally. In addition,
shareholder payouts or debt-funded business expansion that depress
free cash flow would adversely impact the ratings.

Considering PR Wireless' tight liquidity situation and the highly
competitive environment where it operates, a ratings upgrade is
unlikely in the near term. Over the medium to longer term,
positive pressure could result if the company is able to increase
revenues and improve margins so that adjusted debt/EBITDA leverage
trends down towards 4 times and simultaneously grow free cash
flow.

PR Wireless (brand name Open Mobile) is a wireless service
provider in Puerto Rico. It is owned by the holding company PR
Wireless, LLC (incorporated in Delaware, U.S.), which in turn, is
owned by M/C Venture Partners (35%), Columbia Capital (35%) and
Leap Wireless (18%), among others. PR Wireless began operations in
June 2007 after the bankruptcy and reorganization of its
predecessor entity, MoviStar, Inc. With approximately 11%
subscriber market share as of December 2012, the company generated
revenues of USD 181 million and adjusted EBITDA of USD 59 million
in the last twelve months ended September 30, 2012.


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


* BOND PRICING: For the Week Feb. 25 to March 1, 2013
-----------------------------------------------------

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

ARGENTINA
---------

ARGENT-USDDIS         8.28    12/31/2033    USD        59.65
ARGENT-USDDIS         8.28    12/31/2033    USD        60.75
ARGENT-USDDIS         8.28    12/31/2033    USD        61.63
ARGENT-USDDIS         8.28    12/31/2033    USD        61.63
ARGENT-USDDIS         8.28    12/31/2033    USD        63.25
ARGENT-PAR            1.18    12/31/2038    ARS        42.04
ARGENT-EURDIS         7.82    12/31/2033    EUR        45
ARGENT-EURDIS         7.82    12/31/2033    EUR        60
ARGENT-EURDIS         7.82    12/31/2033    EUR        60.5
ARGENT-JPYDIS         4.33    12/31/2033    JPY        35.5
ARGENT-JPYDIS         4.33    12/31/2033    JPY        36
ARGENT-JPYPAR&GDP     0.45    12/31/2038    JPY        8
ARGNT-BOCON PRE9      2        3/15/2014    ARS        50
BANCO MACRO SA        9.75    12/18/2036    USD        72.5
BANCO MACRO SA        9.75    12/18/2036    USD        71.88
BANCO MACRO SA        9.75    12/18/2036    USD        71.88
CAPEX SA             10        3/10/2018    USD        75
CAPEX SA             10        3/10/2018    USD        73.25
CIA LATINO AMER       9.5     12/15/2016    USD        70
EMP DISTRIB NORT      9.75    10/25/2022    USD        46.05
EMP DISTRIB NORT      10.5    10/9/2017     USD        36.85
EMP DISTRIB NORT      9.75    10/25/2022    USD        44.5
METROGAS SA           8.875   12/31/2018    USD        66.75
METROGAS SA           8.875   12/31/2018    USD        66.75
METROGAS SA           8.875   12/31/2018    USD        66.75
METROGAS SA           8.875   12/31/2018    USD        66.75
METROGAS SA           8.875   12/31/2018    USD        67
METROGAS SA           8.875   12/31/2018    USD        69.13
PROV BUENOS AIRE      9.625    4/18/2028    USD        65.87
PROV BUENOS AIRE      9.625    4/18/2028    USD        65.88
PROV BUENOS AIRE      9.375    9/14/2018    USD        70.91
PROV BUENOS AIRE      9.375    9/14/2018    USD         70.7
PROV BUENOS AIRE     10.875    1/26/2021    USD         72.7
PROV BUENOS AIRE     10.875    1/26/2021    USD        72.31
PROV DE FORMOSA       5        2/27/2022    USD        62.63
PROV DE MENDOZA       5.5      9/4/2018     USD        73.78
PROV DEL CHACO        4       12/4/2026     USD        27.75
PROV DEL CHACO        4       11/4/2023     USD        55.13
TRANSENER             9.75     8/15/2021    USD        39
TRANSENER             9.75     8/15/2021    USD        38.75
TRANSENER             8.875   12/15/2016    USD        41.01


BRAZIL
------

CESP                 9.75   1/15/2015      BRL        74.7


CAYMAN ISLAND
-------------


BANCO BPI (CI)        4.15    11/14/2035    EUR        59.5
BANCO BPI (CI)        4.15    11/14/2035    EUR        65.13
BCP FINANCE CO        4.239                 EUR        42
BCP FINANCE CO        5.543                 EUR        43
BES FINANCE LTD       4.5                   EUR        64.83
BES FINANCE LTD       5.58                  EUR        67.5
CAM GLOBAL FIN        6.08    12/22/2030    EUR        61
CHINA FORESTRY       10.25    11/17/2015    USD        53
CHINA FORESTRY       10.25    11/17/2015    USD        53.13
CHINA SUNERGY         4.75     6/15/2013    USD        57.87
ERB HELLAS CAYMA      9        3/8/2019     EUR        50.75
ESFG INTERNATION      5.753                 EUR        53.19
GOL FINANCE           8.75                  USD        77.25
GOL FINANCE           8.75                  USD        74.88
JINKOSOLAR HOLD       4        5/15/2016    USD        60
LUPATECH FINANCE      9.875                 USD        45
LUPATECH FINANCE      9.875                 USD        43.5
PUBMASTER FIN         6.962    6/30/2028    GBP        62.76
PUBMASTER FIN         8.44     6/30/2025    GBP        64
SUNTECH POWER         3        3/15/2013    USD        49.5
SUNTECH POWER         3        3/15/2013    USD        50.4


BRAZIL
------

CESP                 9.75   1/15/2015      BRL        74.7


CHILE
-----

ALMENDRAL TEL            3.5 12/15/2014     CLP       42.34
CHILE                    3    1/1/2042      CLP       65.9
CHILE                    3    1/1/2042      CLP       65.9
CHILE                    3    1/1/2040      CLP       67.41
CHILE                    3    1/1/2040      CLP       67.41
COLBUN SA              3.2    5/1/2013      CLP       24.86


PUERTO RICO
-----------

PUERTO RICO CONS       6.2    5/1/2017      USD       58.5
PUERTO RICO CONS       6.5    4/1/2016      USD       69.48


VENEZUELA
---------

PETROLEOS DE VEN       5.5    4/12/2037     USD       69
PETROLEOS DE VEN       5.375  4/12/2027     USD       72.25


                            ***********


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., Washington, D.C.,
USA, Marites O. Claro, Joy A. Agravante, Rousel Elaine T.
Fernandez, Valerie U. Pascual, Julie Anne L. Toledo, Frauline S.
Abangan, and Peter A. Chapman, Editors.

Copyright 2013.  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$775 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 A. Chapman at 215-945-7000 or Nina Novak at
202-241-8200.


                   * * * End of Transmission * * *