TCRLA_Public/140814.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

            Thursday, August 14, 2014, Vol. 15, No. 160


                            Headlines



A R G E N T I N A

ARGENTINA: Bonds Extend Losses as No Progress Seen in Debt Talks
TELECOM ARGENTINA: Posts P$1,836MM Net Income for 6Mo Ended 2014


B O L I V I A

BOLIVIA: Fitch Affirms 'BB-' IDR & Revises Outlook to Positive
TRANSIERRA SA: Nationalization No Impact on Moody's Ba3 Rating


B R A Z I L

MEGA ENERGIA: Moody's Downgrades Corporate Family Rating to Caa1


C A Y M A N  I S L A N D S

ARCHER OVERFLOW: Commences Liquidation Proceedings
ARCHER OVERFLOW TRADING: Commences Liquidation Proceedings
ARCHSTONE ERISA: Creditors' Proofs of Debt Due Sept. 10
B6 HOLDING: Shareholders' Final Meeting Set for Aug. 19
DB JASMINE: Creditors' Proofs of Debt Due Sept. 2

MAYA INTERNATIONAL: Shareholders' Final Meeting Set for Aug. 15
MSR CORE: Commences Liquidation Proceedings
SEMPRA ENERGY: Placed Under Voluntary Wind-Up
UNIT TRUST: Placed Under Voluntary Wind-Up
VC COMPUTER: Placed Under Provisional Liquidation


D O M I N I C A N   R E P U B L I C

* DOMINICAN REP: Employers Will Face court if They Won't Up Wages


J A M A I C A

* JAMAICA: Trade Deficit Drop 8% in First Four Months of 2014


P U E R T O   R I C O

MINI MASTER: Asks for Oct. 11 Extension of Plan Filing Deadline


                            - - - - -


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


ARGENTINA: Bonds Extend Losses as No Progress Seen in Debt Talks
----------------------------------------------------------------
Camila Russo at Bloomberg News reports that Argentine bonds fell
for a third day on concern that banks and credit holdouts are
struggling to resolve a dispute on defaulted debt.

The nation's government dollar bonds due 2033 dropped 0.82 cents
to 82.35 cents on the dollar, pushing yields up 0.13 percentage
point to 8.6 percent on Aug. 13, at 1:28 p.m., New York time,
according to Bloomberg News.  The extra yield investors demand to
own Argentine debt over U.S. Treasuries widened 0.26 percentage
point to 7.19 percentage points, the most in emerging markets,
according to JPMorgan Chase & Co.'s EMBI Global indexes, Bloomberg
News adds.

Argentine bonds are retreating from a four-year high on
speculation talks aimed at reaching a third-party solution to
Argentina's default will fail, according to Michael Roche, an
emerging-market strategist at Seaport Global Holdings LLC,
Bloomberg News discloses.

Argentina defaulted on July 30 after a U.S. court blocked a $539
million payment on foreign debt because the country didn't comply
with a ruling to also pay its defaulted bonds, Bloomberg News
relays.

"Initial enthusiasm is giving way to doubt," Mr. Roche told
Bloomberg News in a telephone interview from New York.  "The
growing doubt is like air coming out of a balloon, instead of a
pop of a balloon," Bloomberg News quoted Mr. Roche as saying.

Bloomberg News relays that a group of lenders and companies is now
exploring a way to resolve the dispute, Eduardo Eurnekian, an
Argentine billionaire who has been approached by bankers, said.
They are seeking to buy defaulted debt from the holdouts and ask
the U.S. judge to allow Argentina to pay the restructured
bondholders, according to Mr. Eurnekian, Bloomberg News reports.

Direct talks between Argentine government officials and holdouts
led by billionaire Paul Singer's Elliott Management Corp. failed
before the July 30 payment deadline, Bloomberg News recalls.


TELECOM ARGENTINA: Posts P$1,836MM Net Income for 6Mo Ended 2014
----------------------------------------------------------------
Telecom Argentina S.A. posted net income of P$1,836 million for
the six-month period ended June 30, 2014, or +24.5% when compared
to the same period last year.  Net income attributable to Telecom
Argentina amounted to P$1,805 million.

A full text copy of the company's financial report is available
free at:

                    http://is.gd/sc1SDx

Headquartered in Buenos Aires, Telecom Argentina S.A. --
http://www.telecom.com.ar/index-flash.html-- provides telephone-
related services, such as international long-distance service and
data transmission and Internet services, and through its
subsidiaries, wireless telecommunications services, international
wholesale services and telephone directory publishing.

As reported by the Troubled Company Reporter-Latin America on
May 16, 2014, Moody's Latin America Calificadora de Riesgo has
assigned a first time Corporate Family Rating of Caa1 on its
Global Scale and Ba1.ar on its Argentina National Scale to Telecom
Argentina S.A. (Telecom). The outlook is stable.


=============
B O L I V I A
=============


BOLIVIA: Fitch Affirms 'BB-' IDR & Revises Outlook to Positive
--------------------------------------------------------------
Fitch Ratings has affirmed Bolivia's sovereign ratings as follows:

   -- Long-term foreign and local currency Issuer Default Ratings
      (IDRs) at 'BB-';
   -- Senior unsecured foreign and local currency bonds at 'BB-'.
   -- Country Ceiling at 'BB-';
   -- Short-term foreign currency IDR at 'B'.

The Rating Outlooks for the Long-term IDRs have been revised to
Positive from Stable.

KEY RATING DRIVERS

The revision of the Outlooks on Bolivia's sovereign ratings to
Positive from Stable reflects the following factors:

Bolivia's economy grew by a record 6.8% in 2013 and could expand
by 5.2% in 2014 - 2016, above its estimated potential of 4.5% -
5%, and faster than the expected 'BB' median of 4.4%.  Rising
natural gas production, which supports government and private
consumption, and public investment underpin the positive growth
prospects.

In line with the 2009 constitution, the government advanced
reforms to the legal frameworks for hydrocarbons, investment,
mining and public enterprises in 2013 - 2014.  If pragmatically
implemented, these laws could reduce regulatory uncertainty,
nationalization risks and encourage greater private participation
in the economy with the state maintaining its predominant role.
Bolivia's domestic investment rate increased to 19% of GDP in
2013, but lagged behind the 'BB' median of 21%.

The prospects of a new hydrocarbons regime could increase
investment in exploration and smooth the declining production
curve of maturing gas fields.  The legislative assembly approved
seven new exploration contracts in 2013 - 2014 and is considering
eight more association agreements with foreign companies and
subsidiaries of the state-owned YPFB.  In the absence of new gas
reserves developments, Bolivia could face constraints to meet gas
requirements from the domestic market and export contracts with
Argentina and Brazil in 2017 - 2018.

Bolivia's 'BB-' ratings are underpinned by the following rating
factors:

Bolivia's external balance sheet strength supports confidence in
the crawling exchange rate regime, which serves as an anchor for
macroeconomic stability.  International reserves coverage at 13
months of current external payments compares favorably with the
'BB' median of four months, providing ample absorption capacity
against commodity price downturns.  Dollarization declined rapidly
in recent years reducing the vulnerability of the financial system
to currency mismatches and deposit runs.

The general government posted a fiscal surplus of 1.4% of GDP in
2013, following a positive outturn of 1.8% in 2012.  Fitch
forecasts that the budget surplus could shift to a deficit of 1%
in 2014 - 2016.  Public sector deposits, mostly held by YPFB and
local governments, rose to 27% of GDP in 1H14, one of the largest
cushions among peer commodity exporters.

General government debt fell to 31% of GDP in 2013 and could stay
below the 36% median of the 'BB' category in 2014 - 2016.
Contingent liabilities are the main driver of the recent uptick in
the debt burden.  Outstanding guarantees on central banks loans
issued to public enterprises climbed to 2.5% of GDP in 1H14,
nearly 17% of total domestic debt.  The authorities have paid 1%
of GDP in compensation to nine companies for nationalizations
since 2006.

Commodity dependence is high relative to peers in the 'BB'
category.  Hydrocarbons generated 8% of GDP, 57% of tax
collection, 54% of exports and 33% of domestic investment in 2013.
However, natural gas production is partially hedged by long-term
contracts that guarantee the purchase of minimum volumes at prices
above international benchmarks.

Tighter monetary policy, administrative measures and price
controls contained inflation at 6.5% by end-2013 and 7.3% by 1H14,
although higher than the respective central bank's mid-point
targets of 4.8% and 5.5%.  Higher electoral spending and public
investment are the main downside risks to the inflation outlook in
2014 - 2016.

Recently introduced mandatory credit quotas and interest rate
controls are likely to adversely affect financial institutions'
profitability and capitalization.  The recent change in Fitch's
Macro Prudential Indicator for Bolivia to '3' from '2', signals an
increase in the risk of systemic financial stress in the banking
sector, reflecting rapid credit growth and real exchange
appreciation.  Nevertheless, Fitch expects real credit growth to
ease and notes that equity and real estate prices do not indicate
the existence of bubbles.

Low governance indicators, political risks and a poor business
environment remain key credit constraints.  Per capita income
tripled since 2005 but is yet to overcome the gap with similarly
rated sovereigns.  Capacity constraints in local governments and
public enterprises weigh on the execution of the government's
ambitious public investment and industrialization agenda.

RATING SENSITIVITIES

The Positive Outlook reflects the following risk factors that may,
individually or collectively, result in an upgrade:

   -- Sustained growth momentum that would allow for improvements
      in GDP per capita with broad macroeconomic stability;

   -- Implementation of structural reforms that improve the
      business environment and increase our confidence in
      investment prospects and the medium-term sustainability of
      natural gas reserves;

   -- Strengthening of the budgetary and fiscal frameworks.

The Outlook is Positive.  Consequently, Fitch's sensitivity
analysis does not currently anticipate developments with a
material likelihood, individually or collectively, of leading to a
downgrade.  However, future developments that may, individually or
collectively, lead to a revision of the Outlook to Stable include:

   -- Hydrocarbons production shocks or a severe fall in export
      prices resulting in a material deterioration in external and
      fiscal solvency ratios;

   -- Failure to contain inflation pressures and policy changes
      that affect the stability of the financial system;

   -- Sustained fiscal slippage and materialization of contingent
      liabilities leading to adverse debt dynamics and the erosion
      of fiscal buffers.

KEY ASSUMPTIONS

The ratings and Outlooks are sensitive to a number of assumptions.

   -- The growth, fiscal and external forecasts assume that
      Bolivia maintains natural gas production at present levels
      and is able to meet the gas requirements from the local
      market and the export contracts with Argentina and Brazil in
      2014-2016. International oil prices, a benchmark for
      Bolivia's energy contracts, will gradually weaken to
      USD95p/bl in 2016.

   -- Public spending, political polarization and regional
      tensions could intensify in the run-up to the October 2014
      general and April 2015 local elections but are not likely to
      jeopardize overall macroeconomic and political stability.

   -- The risk of ad hoc nationalizations that do not severely
      impair economic activity and the sovereign's external and
      fiscal balance sheets are incorporated at the present rating
      level.


TRANSIERRA SA: Nationalization No Impact on Moody's Ba3 Rating
--------------------------------------------------------------
Moody's Latin America said that the Ba3/Aa1.bo ratings of
Transierra S.A. remain unchanged following the recently announced
nationalization.

On August 5, 2014 Transierra announced that Petrobras Bolivia
Inversiones y Servicios S.A. (Petrobras) and Total E&P Bolivie --
Sucursal Bolivia (Total) had transferred their interest in the
company to YPFB (Yacimientos Petroliferos Fiscales Bolivianos),
within the Ley de Empresa PĀ£blica (Public Companies Law
Framework).

The virtual nationalization of the company was completed by the
transfer of 44.5% of the shares previously belonging to Petrobras
and 11% belonging to Total (adding up to a 55.5% interest) to
YPFB, the Bolivian state-owned oil and gas company. YPFB Andina
will keep its 44.5% interest. Consequently, the Bolivian
government will indirectly own 78% of Transierra through YPFB. The
transaction price amounted to U$S 133 million.

This transaction has no impact on Transierra' Ba3/Aa1.bo ratings
because its credit profile will continue to be supported by the
company's sound business model, stable cash flows from capacity
payments and strong credit metrics. In addition, the ratings will
continue to be supported by the strategic importance of the
pipeline to transport Bolivian gas to Brazil as outlined under the
Bolivian-Brazilian bi-lateral gas supply agreement (GSA).

Transierra's Ba3 rating is at the same level of the sovereign and
therefore ownership from YPFB, fully owned by the government, has
no impact on current ratings.


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


MEGA ENERGIA: Moody's Downgrades Corporate Family Rating to Caa1
----------------------------------------------------------------
Moody's America Latina downgraded Mega Energia's corporate family
ratings to Caa1 from B2 on its global scale and to Caa1.br from
Baa3.br on its national scale. The company's BRL70 million senior
unsecured debentures were downgraded to Caa2/Caa2.br from
B3/Ba2.br. The ratings outlook is negative.

Ratings downgraded:

Issuer: Mega Energia Locacao e Administracao de Bens S.A.

- Corporate Family Rating: to Caa1 from B2 (global scale); to
Caa1.br from Baa3.br (national scale)

- BRL 70 million senior unsecured debentures due 2018: to Caa2
from B3 (global scale); to Caa2.br from Ba2.br (national scale)

Ratings Rationale

Mega Energia's downgrade reflect the sudden deterioration in the
company's operating performance and liquidity position that
resulted in much weaker debt protection ratios. The severe
deterioration in operational performance, as a result of lower
than anticipated utilization rates in the cranes segment, and
steep decline in revenues in the company's truck business in 2Q14
has diminished the company's cash flow generation ability and
squeezed Mega Energia's liquidity. Trucks and cranes together
accounted for 82% of Mega Energia's revenues in 2013.

The Caa1/Caa1.br CFR incorporates the challenges Mega Energia
faces to reduce fixed costs and improve earnings and margins. Most
importantly, the ratings and the negative outlook reflect
uncertainties regarding the future operations and the ability to
obtain waivers for covenant breach under its debentures and meet
existing financial obligations.

A ratings upgrade is unlikely near term but positive pressure
could arise if Mega Energia is able to maintain adequate
liquidity, and its interest coverage as measured by Adjusted
EBITDA to interest expense (considering Moody's standard
accounting adjustments) is above 2.0x and if Adjusted Retained
Cash Flow to debt remains above 12.5% on a sustained basis.

Further downward pressure on the ratings would arise from a
deterioration in the company's liquidity position leading to a
default in interest payment or debt amortization. Quantitatively,
the ratings would be downgraded if the company's leverage,
measured by Adjusted Debt to Ebitda increases above 6.5x or if
interest coverage (as measured by Adjusted Ebitda to Interest
Expense) declines to levels below 1.0x without prospects of
recovery.

The principal methodology used in this rating was the Global
Equipment and Automobile Rental Industry published in December
2010. Please see the Credit Policy page on www.moodys.com.br for a
copy of this methodology.

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
a ".nn" country modifier signifying the relevant country, as in
".mx" for Mexico. For further information on Moody's approach to
national scale ratings, please refer to Moody's Rating Methodology
published in June 2014 entitled "Mapping Moody's National Scale
Ratings to Global Scale Ratings".

Headquartered in Rio de Janeiro, Brazil, Mega Energia is a local
provider of equipment rental, including crane, heavy vehicles,
natural gas compressors and energy generators. The company
operates mainly in the city of Rio de Janeiro (Baa2, stable),
where it generates approximately 64% of revenues, and in the North
and Northeast regions of Brazil (31% and 5% of revenues,
respectively). In 2013, Mega Energia reported net revenues of BRL
122 million and adjusted Ebitda margin of 32%.


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


ARCHER OVERFLOW: Commences Liquidation Proceedings
--------------------------------------------------
On July 21, 2014, the sole shareholder of Archer Overflow SPV,
Ltd. resolved to voluntarily liquidate the company's business.

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

The company's liquidator is:

          Neil Wiesenberg
          Archer Capital Management
          570 Lexington Avenue
          40th Floor, New York
          NY 10022
          United States of America
          Telephone: +1 (212) 319 2775


ARCHER OVERFLOW TRADING: Commences Liquidation Proceedings
----------------------------------------------------------
On July 21, 2014, the sole shareholder of Archer Overflow Trading
SPV, Ltd. resolved to voluntarily liquidate the company's
business.

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

The company's liquidator is:

          Neil Wiesenberg
          Archer Capital Management
          570 Lexington Avenue
          40th Floor, New York
          NY 10022
          United States of America
          Telephone: +1 (212) 319 2775


ARCHSTONE ERISA: Creditors' Proofs of Debt Due Sept. 10
-------------------------------------------------------
The creditors of Archstone Erisa Fund, Ltd. are required to file
their proofs of debt by Sept. 10, 2014, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on July 22, 2014.

The company's liquidator is:

          DMS Corporate Services Ltd
          c/o Nicola Cowan
          Telephone: (345) 946 7665
          Facsimile: (345) 949 2877
          dms House, 2nd Floor
          P.O. Box 1344 Grand Cayman KY1-1108
          Cayman Islands


B6 HOLDING: Shareholders' Final Meeting Set for Aug. 19
-------------------------------------------------------
The shareholders of B6 Holding will hold their final meeting on
Aug. 19, 2014, 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 Fear
          Name: Daniel Woolston
          Telephone: (345) 814 7782
          Facsimile: (345) 945 3902
          P.O. Box 2681 Grand Cayman KY1-1111
          Cayman Islands


DB JASMINE: Creditors' Proofs of Debt Due Sept. 2
-------------------------------------------------
The creditors of DB Jasmine (Cayman) Limited are required to file
their proofs of debt by Sept. 2, 2014, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on July 16, 2014.

The company's liquidator is:

          John David Thomas Milsom
          KPMG LLP
          8 Salisbury Square
          London, EC4Y 8BB
          United Kingdom
          c/o Becky Hewett
          Telephone: +44 (0) 20 7311 8229
          Facsimile: +44 (0) 20 7694 3533


MAYA INTERNATIONAL: Shareholders' Final Meeting Set for Aug. 15
---------------------------------------------------------------
The shareholders of Maya International Ltd. will hold their final
meeting on Aug. 15, 2014, 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:

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


MSR CORE: Commences Liquidation Proceedings
-------------------------------------------
On July 16, 2014, the shareholders of MSR Core Holdings Ltd.
resolved to voluntarily liquidate the company's business.

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

The company's liquidator is:

          Stephen Nelson
          Telephone: (345) 949.4544
          Facsimile: (345) 949.8460
          Charles Adams Ritchie & Duckworth
          P.O. Box 709 122 Mary Street
          Grand Cayman KY1-1107
          Cayman Islands


SEMPRA ENERGY: Placed Under Voluntary Wind-Up
---------------------------------------------
On July 23, 2014, the sole shareholder of Sempra Energy
International (Cayman) CEP resolved to voluntarily wind up the
company's operations.

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

The company's liquidator is:

          Randall L. Clark
          c/o Campbells Corporate Services Limited
          P.O. Box 268, Willow House
          Cricket Square
          Grand Cayman KY1-1104
          Cayman Islands
          Telephone: +1 (345) 949 2648
          Facsimile: +1 (345) 949 8613


UNIT TRUST: Placed Under Voluntary Wind-Up
------------------------------------------
On June 24, 2014, the sole shareholder of Unit Trust Corporation
(Cayman) SPC Limited resolved to voluntarily wind up the company's
operations.

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

The company's liquidator is:

          Nigel Edwards
          c/o United Trust Corporation
          UTC Financial Centre
          82 Independence Square
          Port of Spain Trinidad
          Telephone: +1 (868) 624 8648
          Facsimile: +1 (868) 624 5207


VC COMPUTER: Placed Under Provisional Liquidation
-------------------------------------------------
On July 17, 2014, the Grand Court of the Cayman Islands placed VC
Computer Holdings Limited under provisional liquidation.

The company's liquidators are:

          K. Beighton
          A. Lawson of KPMG
          P.O. Box 493, Century Yard
          Cricket Square, Grand Cayman KY1-1106
          Cayman Islands


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


* DOMINICAN REP: Employers Will Face court if They Won't Up Wages
-----------------------------------------------------------------
Dominican Today reports that the President of the national unions
grouped in the CNUS warned employers that if they fail to raise
wages this year, as agreed to on July 2013, they'll be taken to
court.

The report notes that Rafael (Pepe) Abreu said thus, far the
private sector has yet to respond to the proposal submitted to the
National Wages Committee, in which the unions demand a 30% raise.

The report relays that Mr. Abreu, interviewed on Teleradio America
Channel 45, said the requested increase now aims to bring the
minimum wage to RD$14,000, and RD$7,300 to medium-sized
businesses.

"Regardless, the revision of salaries every two years is by Law,
which means that in the same way the Committee must convene (the
parts) and they must attend, because it's automatic which means
that employers are also obliged to attend it on July 2015, to
discuss a wage increase," added Mr. Abreu, the report discloses.


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


* JAMAICA: Trade Deficit Drop 8% in First Four Months of 2014
-------------------------------------------------------------
Jamaica Observer reports that Jamaica's trade deficit declined by
eight per cent during the first four months of 2014.  The report
relates that exports were less during the period but imports fell
more dramatically, mainly due to a lower oil bill.

At US$650 million ($73.4 billion), mineral fuels accounted for 35
per cent of all imports from January to April 2014, according to
Jamaica Observer.  However, it was still US$90 million less than
year-earlier levels, the report notes.

Overall, imports were down by US$200 million for the review
period, the report relays.  Importers brought in US$240 million
less raw material and intermediate goods, which in part reflected
lower consumption of ethanol products, reports Jamaica Observer.

On the other hand, consumer goods climbed from US$480 million in
the comparative period last year to US$518 million during the
first four months of 2014, the report discloses.  The cost of
imported food was the largest contributor to that category.

Imports of capital goods also rose; particularly, machinery and
equipment, valued at US$21 million, which was brought into the
island during the four-month period, compared to US$16.5 million
spent during the corresponding period in 2013, the report relays.

Traditional exports fell marginally -- from US$276 million to
US$268 million. Coffee and bauxite earnings declined by US$1.5
million and US$500,000, respectively.  However, alumina exports
rose by US$2.6 million.

Non-traditional exports fell by US$66 million.

Overall, the total deficit on external trade fell from US$1.46
billion during the first four months of 2013 to US$1.34 billion
during the review period, the report says.

However, the Jamaica Observer discloses that Jamaica's trade
deficit with Caricom increased by US$34 million, or by 15.2 per
cent to US$258 million.

Jamaica's exports to the regional bloc increased by 69 per cent to
US$38 million, the report notes.  But imports from the region
jumped by 20 per cent, or nearly US$50 million, primarily
reflecting higher oil imports from Trinidad, the report adds.


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


MINI MASTER: Asks for Oct. 11 Extension of Plan Filing Deadline
---------------------------------------------------------------
Mini Master Concrete Services Inc. asks the U.S. Bankruptcy Court
for the District of Puerto Rico to extend the time to file a
Chapter 11 plan of reorganization and disclosure statement
explaining that plan until Oct. 11, 2014.

The Debtor tells the Court that it is analyzing these
alternatives:

  a) The opening of new locations at Aguadilla and Arecibo, Puerto
     Rico, in order to increase its sales.

  b) The sale or surrender of assets to secured creditors.

  c) A joint venture with another company to re-establish its
     manufacturing plant in Toa Baja, Puerto Rico.

The Debtor says it needs more time to complete the aforementioned
analysis, evaluate its alternatives, and increase its revenues in
order to file a feasible plan.

Master Aggregates Toa Baja Corporation filed a Chapter 11 petition
(Bankr. D.P.R. Case No. 13-10305) in Old San Juan, Puerto Rico on
Dec. 11, 2013.  Charles Alfred Cuprill, Esq., at Charles A
Cuprill, PSC Law Office, in San Juan, serves as counsel.  The
Debtor disclosed $11,125,939 in assets and $10,148,437 in
liabilities.

Mini Master Concrete aka Mini Master aka Empresas Master filed a
Chapter 11 petition (Bankr. D. P.R. Case No. 13-10302) on Dec. 11,
2013, in Old San Juan, District of Puerto Rico.  Charles A
Cuprill, PSC Law Office, also serves as counsel to Mini Master
Concrete.  The petition was signed by Carmen Betancourt,
president.


                            ***********


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.

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, and Peter A.
Chapman, Editors.

Copyright 2014.  All rights reserved.  ISSN 1529-2746.

This material is copyrighted and any commercial use, resale or
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