TCRLA_Public/150420.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, April 20, 2015, Vol. 16, No. 076


                            Headlines



A N T I G U A  &  B A R B U D A

ANTIGUA & BARBUDA: Lack of Money Slows Housing Project
ANTIGUA & BARBUDA: Housing Project Staff Cut Due to Funding


A R G E N T I N A

MEGAINVER RENTA: Moody's Assigns Caa-bf Bond Fund Rating


B R A Z I L

OAS S.A.: Chapter 15 Case Summary
OAS S.A.: Seeks U.S. Recognition of Brazilian Proceedings
OAS S.A.: Debtors Seek Joint Administration in the U.S.


C A Y M A N  I S L A N D S

ARROW SPECIAL: Commences Liquidation Proceedings
BASEL HOLDINGS: Creditors' Proofs of Debt Due May 13
CHC GROUP: S&P Cuts CCR to B on Deterioration of Credit Measures
GSA ALPHA: Creditors' Proofs of Debt Due May 14
GSA ALPHA MASTER: Creditors' Proofs of Debt Due May 14
HESS (INDONESIA-VII): Creditors' Proofs of Debt Due May 14

KIRK CAYMAN: Creditors' Proofs of Debt Due May 13
KOCH CAPITAL: Shareholder to Receive Wind-Up Report on May 5
SENRIGAN SPV: Creditors' Proofs of Debt Due May 13
TORO ABS: Creditors' Proofs of Debt Due May 13
YORK SOLUTIONS: Creditors' Proofs of Debt Due May 11

ZARIA LIMITED: Commences Liquidation Proceedings
ZURBANO FUND: Creditors' Proofs of Debt Due May 11


D O M I N I C A N   R E P U B L I C

* DOMINICAN REP: Senate OKs US$656MM Loan for 'Clean' Coal Plants
* DOMINICAN REPUBLIC: U.S. Could Ease Agricultural Ban
* DOMINICAN REPUBLIC: U.S. Ambassador Discuss Infrastructure Proj.


J A M A I C A

JAMAICA: BOJ to Cut Benchmark Interest Rates April 17


P U E R T O   R I C O

PUERTO RICO ELECTRIC: Forbearance Agreement Extended for 15 Days


X X X X X X X X X

* LATIN AMERICA: Moody's Says Weak Currencies Affects Companies
* BOND PRICING: For the Week From April 6 to April 10, 2015


                            - - - - -


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


ANTIGUA & BARBUDA: Lack of Money Slows Housing Project
------------------------------------------------------
The Daily Observer reports that a lack of money is the cause of
the dramatic slowdown of construction activity at government's
housing program, but it should not have been the case, said the
former minister of finance.

Minister of Housing and Public Works, Eustace "Teco" Lake,
confirmed to The Daily Observer that the US$40 million loan and
US$5 million grant funding earmarked for the project, from the
government of Mexico, has not yet been acquired, according to The
Daily Observer.

"The bottom line is that all the funding is not there at this
point, we haven't gotten it as yet . . . . we probably won't get
it until about June," Mr. Lake said, the report notes.

However, former finance minister Harold Lovell told The Daily
Observer the slowing of work on the multi-million dollar project
serves as a blow to Prime Minister Gaston Browne's credibility,
the report relays.

Mr. Lovell said recent events show a lack planning on the part of
government, the report discloses.

"I like the words of the contractor that spoke on record. I think
what he says was it's a lot of bluff, propaganda and nonsense and
I think we are now coming to see that," Mr. Lovell charged, the
report relays.

But Minister Lake said government started the project without the
necessary funding to satisfy the widespread demand for work in the
country, the report notes.

"The issue is that when we started the project we wanted to get
people off working, and so the demand for work was there and we
wanted to get some of the houses up so people could see what they
look like," Mr. Lovell said, the report notes.  "In order to do
that you're going to have to employ at a higher rate, get some of
the houses going and then you have to taper it off," Mr. Lovell
added.

About 30 construction workers were sent home from government's
housing project, two months after construction commenced, the
report relays.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
September 23, 2014, The Daily Observer said that Antigua & Barbuda
could soon find itself in the company of Japan, Zimbabwe, and
Greece, the countries with the highest national debts.

In the January 2014 budget presentation, the former administration
indicated that the nation's debt was 87 per cent of GDP, according
to The Daily Observer.  However, Prime Minister Gaston Browne has
disputed the figure, deeming it to be as high as 130 per cent, the
report noted.

Minister Browne said while his government's increased borrowing is
pushing up the nation's debt-to-GDP ratio, it is necessary to
solve the country's problems, the report related.


ANTIGUA & BARBUDA: Housing Project Staff Cut Due to Funding
-----------------------------------------------------------
The Daily Observer reports that Minister of Housing, Eustace Teco
Lake, has said that reduced construction activity at government's
housing project is due to a lack of funding.

Mr. Lake explained that the US$40 million loan and US$5 million
dollar grant funding from the government of Mexico has not yet
been acquired, according to The Daily Observer.

"We haven't gotten it as yet. We probably won't get it until about
June," the report quoted Mr. Lake as saying.

Mr. Lake added, however, that government started the project to
satisfy the demand for work, notes the report.

"When we started the project, we wanted to get people off working,
and so the demand for work was there.  We wanted to get some of
the houses up, so people can see what they look like.  In order to
do that you're going to probably employ at a higher rate; get some
of the houses going; and then you have to taper it off," Mr. Lake
said, the report relays.

About 30 construction workers were sent home from government's
housing project, two months after construction commenced, the
report notes.

With only two homes completed to date, workers said they were sent
home due to shortage of material, the report relays.

The report adds that the employees said they were told they would
be recalled once the material is onsite.

                            *     *     *

As reported in the Troubled Company Reporter-Latin America on
September 23, 2014, The Daily Observer said that Antigua & Barbuda
could soon find itself in the company of Japan, Zimbabwe, and
Greece, the countries with the highest national debts.

In the January 2014 budget presentation, the former administration
indicated that the nation's debt was 87 per cent of GDP, according
to The Daily Observer.  However, Prime Minister Gaston Browne has
disputed the figure, deeming it to be as high as 130 per cent, the
report noted.

Minister Browne said while his government's increased borrowing is
pushing up the nation's debt-to-GDP ratio, it is necessary to
solve the country's problems, the report related.


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


MEGAINVER RENTA: Moody's Assigns Caa-bf Bond Fund Rating
--------------------------------------------------------
Moody's Latin America Agente de Calificacion de Riesgo assigned
initial bond fund ratings to Megainver Renta Global FCI, a new
bond fund that will be managed by Megainver SASGFCI ("Megainver")
in Argentina. The global scale and national scale ratings assigned
are as follows:

   -- Megainver Renta Global FCI; rating of Caa-bf/ Baa-bf.ar.

"The fund ratings are based on the fund's model portfolio
composition that shows over 85% of invested assets in Argentinean
government bonds with ratings of Caa-bf/Baa-bf.ar", said Moody's
analyst Carlos de Nevares. The remainder of the fund's asset
allocation is expected to be in mutual funds or corporate bonds.
Based on this portfolio composition, the fund is expected to
maintain a maturity-adjusted weighted average portfolio credit
quality consistent with a rating level of Caa-bf/Baa-bf.ar.

The fund anticipates significant growth with future investments
from institutional investors, such as local insurance companies
and high net worth individuals, who have historically been clients
of Megainver and its affiliates.

In operation for over three years, Megainver SGFCI SA, is a
medium-sized asset manager with a 2.8% share of Argentina's mutual
fund market. As of March 2015, Megainver SGFCI SA managed
approximately AR$4,044 million in assets.


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


OAS S.A.: Chapter 15 Case Summary
---------------------------------
Chapter 15 Petitioner: Renato Fermiano Tavares

Chapter 15 Debtors:

     Name                                       Case No.
     ----                                       --------
     OAS S.A. - em recuperacao judicial         15-10937
     Av. Angelica, n 2.330/2.346/2.364
     9 andar, sala 904, Consolacao
     Sao Paulo 01228-200

     Construtora OAS S.A.                       15-10938

     OAS Finance Limited                        15-10939

     OAS Investments GmbH                       15-10940

Type of Business: Infrastructure

Chapter 15 Petition Date: April 15, 2015

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Judge: Hon. Stuart M. Bernstein

Chapter 15 Petitioner's Counsel: Gregory M. Starner, Esq.

                                 Kimberly A. Haviv, Esq.
                                 WHITE & CASE LLP
                                 1155 Avenue of the Americas
                                 New York, New York 10036-2787
                                 Tel: (212) 819-8200
                                 Email: gstarner@whitecase.com
                                        khaviv@whitecase.com

                                    - and -

                                 John K. Cunningham, Esq.
                                 Richard S. Kebrdle, Esq.
                                 WHITE & CASE, LLP
                                 200 South Biscayne Boulevard
                                 Suite 4900
                                 Miami, FL 33131
                                 Tel: (305) 995-5252
                                 Fax: (305) 358-5744
                                 Email: jcunningham@whitecase.com
                                        rkebrdle@whitecase.com

Estimated Assets: More than $1 billion

Estimated Liabilities: More than $1 billion


OAS S.A.: Seeks U.S. Recognition of Brazilian Proceedings
---------------------------------------------------------
OAS S.A. and three other members of the OAS Group filed Chapter 15
petitions in a bankruptcy court in the U.S. to seek recognition of
their Brazilian bankruptcy proceedings.

Renato Fermiano Tavares, the foreign representative, explains that
on March 31, 2015, the Debtors duly commenced the Brazilian
Bankruptcy Proceedings pursuant to the Brazilian Bankruptcy Law by
filing voluntary bankruptcy petitions in the Brazilian Bankruptcy
Court and, on April 1, 2015, the Brazilian Bankruptcy Court issued
a decision and order approving the continuation of the joint
reorganization proceedings of the Debtors and certain other
members of the OAS Group. The Debtors are part of an international
engineering construction and infrastructure investment enterprise
based in Sao Paulo, Brazil.

Despite its fundamentally sound business model, the OAS Group's
financial situation was seriously impacted by a severe downturn in
Brazil's economy that began in 2013. To make matters worse, the
OAS Group recently was implicated in an alleged corruption case
involving contracts with the oil company Petrobras, which is a
state-controlled company the majority of whose shares are owned by
the Brazilian government. In November 2014, Petrobras included OAS
on a list of 23 firms blocked from obtaining further contracts
with the oil company, leading to successive and significant
downgrades of its credit ratings from the major rating agencies.

Handicapped in its ability to access the credit markets to obtain
the liquidity needed to sustain its operations, the OAS Group
announced, in January 2015, that it would cease payments on its
financial debt in order to maintain operations and avoid collapse
while it began negotiating with its creditors toward a global
resolution of its financial distress. Despite these efforts, a
total of seven lawsuits have been filed against the OAS Group in
Brazil, which have resulted in orders attaching strategic assets
such as cash, certain unencumbered shares of Investimentos e
Participacoes em Infraestrutura S.A. (which is one of the OAS
Group's most valuable assets) and 49.60% of shares held by OAS in
Fonte Nova Negocios e Participacoes S.A, a concessionaire
responsible for the maintenance and operation of World Cup
stadium, Fonte Nova. The threat of an uncontrolled scramble for
assets with its detrimental consequences to going-concern value
(and thus to creditors as a whole) rendered an out-of-court
restructuring the OAS Group's liabilities impossible. Accordingly,
as the number of such suits increased, OAS and certain of its
subsidiaries were left with no alternative but to commence the
Brazilian Bankruptcy Proceedings.

OAS S.A., et al., ask the U.S. Bankruptcy Court for the Southern
District of New York to recognize the Brazilian proceedings as
"foreign main proceedings", and to stay all collection efforts in
the U.S.

Although the OAS Group's assets in the United States were limited
to New York bank accounts maintained to effect dollar-denominated
international transactions, certain alleged holders of notes
issued by OAS Finance and OAS Investments and guaranteed by OAS
and OAS Construtora have also initiated litigation in the United
States. On Feb. 4, 2014, Aurelius Investment, LLC commenced an
action against the Debtors in the Supreme Court of the State of
New York and a second New York lawsuit was launched by the Alden
Global Adfero BPI Fund, Limited and certain of its affiliates on
Feb. 18, 2014. Then, on March 5, 2015, a third lawsuit was
commenced by Huxley Capital Corporation, an affiliate of Aurelius
Investment, LLC, in the United States District Court for the
Southern District of New York alleging that the merger of OAS
Investimentos S.A. with OAS and certain asset transfers
constituted fraudulent conveyances. In view of these actions, the
fact that a major portion of the OAS Group's financial debt is
comprised of New York law-governed, U.S. dollar-denominated notes
along with the urgent need to centralize and coordinate the OAS
Group's reorganization efforts in Brazil, the Debtors determined
that the filing of the Chapter 15 cases and the concurrent request
for immediate provisional relief at this time was appropriate and
necessary.

Mr. Tavares also filed an application seeking certain provisional
relief in order to maintain the status quo pending the U.S.
Court's recognition of the Brazilian bankruptcy proceedings.

A copy of the Motion for Provisional Relief is available for free
at:

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

A copy of the Petition for Recognition is available for free at:

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

                         About OAS S.A.

The OAS Group is among the largest and most experienced
infrastructure companies in Brazil, focusing on heavy engineering
and equity investments in infrastructure projects located in and
outside Brazil and abroad for both public and private clients. The
OAS Group provides services in 22 countries in Latin America, the
Caribbean and Africa.

Based in Sao Paulo, Brazil, OAS S.A. is the holding company at the
apex of the OAS Group. Its share capital is divided between CMP
Participacoes Ltda. (owned by Mr. Cesar de Araujo Mata Pires),
which has a 90% stake, and LP Participacoes e Engenharia Ltda
(owned by Mr. Jose Adelmario Pinheiro Filho, which has a 10%
stake.

Amid an investigation into alleged corruption and money
laundering, and missed interest payments, OAS S.A. and its
affiliates Construtora OAS S.A., OAS Investments GmbH, and OAS
Finance Limited on March 31, 2015, commenced judicial
reorganization proceedings before the First Specialized Bankruptcy
Court of Sao Paulo pursuant to Federal Law No. 11.101 of February
9, 2005 of the laws of the Federative Republic of Brazil.

On April 15, 2015, OAS S.A., et al., filed Chapter 15 bankruptcy
petitions (Bankr. S.D.N.Y. Lead Case No. 15-10937) in Manhattan,
in the United States to seek U.S. recognition of the Brazilian
proceedings. Renato Fermiano Tavares, as foreign representative,
signed the petitions. The cases are assigned to Judge Stuart M.
Bernstein. White & Case, LLP, serves as counsel in the U.S. cases.

OAS S.A. listed at least US$1 billion in assets and liabilities.


OAS S.A.: Debtors Seek Joint Administration in the U.S.
-------------------------------------------------------
OAS S.A. and three other members of the OAS Group ask the U.S.
Bankruptcy Court for the Southern District of New York to enter an
order directing the joint administration, under lead Case No. 15-
10937. John K. Cunningham, Esq., at White & Case LLP, contends
that joint administration of the cases is warranted because:

* the Debtors' financial affairs and business operations are
closely related;

* the Debtors are party to a single, jointly administered
bankruptcy proceeding in Brazil; and

* the joint administration of the Chapter 15 Cases will ease the
administrative burden of the Chapter 15 Cases on the Court and
parties in interest.

                     About OAS S.A.

The OAS Group is among the largest and most experienced
infrastructure companies in Brazil, focusing on heavy engineering
and equity investments in infrastructure projects located in and
outside Brazil and abroad for both public and private clients. The
OAS Group provides services in 22 countries in Latin America, the
Caribbean and Africa.

Based in Sao Paulo, Brazil, OAS S.A. is the holding company at the
apex of the OAS Group. Its share capital is divided between CMP
Participacoes Ltda. (owned by Mr. Cesar de Araujo Mata Pires),
which has a 90% stake, and LP Participacoes e Engenharia Ltda
(owned by Mr. Jose Adelmario Pinheiro Filho, which has a 10%
stake.

Amid an investigation into alleged corruption and money
laundering, and missed interest payments, OAS S.A. and its
affiliates Construtora OAS S.A., OAS Investments GmbH, and OAS
Finance Limited on March 31, 2015, commenced judicial
reorganization proceedings before the First Specialized Bankruptcy
Court of Sao Paulo pursuant to Federal Law No. 11.101 of
February 9, 2005 of the laws of the Federative Republic of Brazil.

On April 15, 2015, OAS S.A., et al., filed Chapter 15 bankruptcy
petitions (Bankr. S.D.N.Y. Lead Case No. 15-10937) in Manhattan,
in the United States to seek U.S. recognition of the Brazilian
proceedings. Renato Fermiano Tavares, as foreign representative,
signed the petitions. The cases are assigned to Judge Stuart M.
Bernstein. White & Case, LLP, serves as counsel in the U.S. cases.

OAS S.A. listed at least US$1 billion in assets and liabilities.


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


ARROW SPECIAL: Commences Liquidation Proceedings
------------------------------------------------
On March 26, 2015, the sole shareholder of Arrow Special
Opportunities Fund Inc. 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:

          Robert Maxwell
          Arrow Capital Management Inc.
          36 Toronto Street, Suite 750
          Toronto, Ontario M5C 2C5
          Canada
          Telephone: +1 (416) 323 0477


BASEL HOLDINGS: Creditors' Proofs of Debt Due May 13
----------------------------------------------------
The creditors of Basel Holdings Distressed Value Ltd are required
to file their proofs of debt by May 13, 2015, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on March 27, 2015.

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


CHC GROUP: S&P Cuts CCR to B on Deterioration of Credit Measures
----------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its long-term
corporate credit rating on Cayman Islands-based CHC Group Ltd. to
'B' from 'B+'. The outlook is stable.

At the same time, Standard & Poor's lowered its issue-level rating
on subsidiary CHC Helicopter S.A.'s super senior revolving credit
facility to 'BB-' from 'BB'. The '1' issue rating is unchanged and
indicates very high (90%-100%) recovery in a default scenario.
Standard & Poor's also lowered its issue-level ratings on the
subsidiary's senior secured notes to 'B' from 'B+', and that on
the senior unsecured notes to 'B-' from 'B'. The recovery ratings
on the senior secured and unsecured notes are unchanged at average
(30%-50%; at the higher end of the scale) and modest (10%-30%; at
the lower end of the scale) recovery, respectively.

"The downgrade reflects our expectation that CHC's credit measures
will be weaker than we had expected," said Standard & Poor's
credit analyst Aniki Saha-Yannopoulos.

S&P said, "With the recent material drop in commodity prices,
exploration and production (E&P) companies have reduced their
capital budgets considerably, postponing projects and demanding
price concessions from oilfield service providers. Although we
acknowledge that CHC's EBITDA will not face as much pressure as
other oilfield service companies, we expect the EBITDA to drop as
E&P companies reduce flight hours associated with exploration
projects and focus on operating efficiency. We expect CHC to exit
fiscal 2016 (year ended April 30) with debt-to-EBITDA about 6.5x,
which is weaker than our previously forecast debt-to-EBITDA of
about 5.0x. We are removing our positive comparable ratings
analysis modifier because we do not expect the company's credit
measures to exhibit an improving trend in the next 12 months."

CHC Helicopter, which operates a fleet of 233 helicopters in
approximately 30 countries, is one of the two largest global
helicopter service providers. It offers personnel and light cargo
transportation services, primarily for oil and gas E&P companies
(about 80% of its revenues), as well as search and rescue
activities and emergency medical services, through its helicopter
services segment. In addition, the company's Heli-One division
provides helicopter support services.

The stable outlook on CHC Group reflects S&P's expectation that,
under its base-case scenario, the company's liquidity will remain
adequate in fiscal 2016. CHC has significant cushion under its
financial covenants, and S&P expects the company will look at
various options to finance its new helicopter commitments as they
come due.

S&P could consider a negative action if CHC's credit measures
worsen such that its FFO-to-debt falls and stays below 5% or
EBITDA-to-interest coverage falls below 2x with no expectation of
material improvement. Although it does not expect it in the short
term, S&P may also consider a negative action if the company's
liquidity deteriorates such it has difficulty in financing its
commitments, including capital expenditure, or is close to
breaching its financial covenants.

"We do not expect an upgrade in the next 12 months due to CHC's
highly leveraged balance sheet. The company's principal ownership
by private equity investors also constrains the ratings at the
current level, as per our criteria. However, a positive action
might be possible if CHC can demonstrate that its owners will
manage its balance sheet to a sustained adjusted debt-to-EBITDA
ratio of below 5x or if financial sponsor ownership reduces
below 40%," said S&P.


GSA ALPHA: Creditors' Proofs of Debt Due May 14
-----------------------------------------------
The creditors of GSA Alpha Capture Fund Limited are required to
file their proofs of debt by May 14, 2015, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on March 23, 2015.

The company's liquidator is:

          Stuart Sybersma
          c/o Yvonne Lorimer
          Deloitte & Touche
          Citrus Grove Building, 4th Floor
          Goring Avenue, George Town KY1-1109
          Cayman Islands
          Telephone: +1 (345) 814 2214
          Facsimile: +1 (345) 949 8258


GSA ALPHA MASTER: Creditors' Proofs of Debt Due May 14
------------------------------------------------------
The creditors of GSA Alpha Capture Master Fund Limited are
required to file their proofs of debt by May 14, 2015, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on March 23, 2015.

The company's liquidator is:

          Stuart Sybersma
          c/o Yvonne Lorimer
          Deloitte & Touche
          Citrus Grove Building, 4th Floor
          Goring Avenue, George Town KY1-1109
          Cayman Islands
          Telephone: +1 (345) 814 2214
          Facsimile: +1 (345) 949 8258


HESS (INDONESIA-VII): Creditors' Proofs of Debt Due May 14
----------------------------------------------------------
The creditors of Hess (Indonesia-VII) Limited are required to file
their proofs of debt by May 14, 2015, to be included in the
company's dividend distribution.

The company's liquidator is:

          Mr. George C. Barry
          1185 Avenue of the Americas
          New York, N.Y. 10036
          United States of America


KIRK CAYMAN: Creditors' Proofs of Debt Due May 13
-------------------------------------------------
The creditors of Kirk Cayman Limited are required to file their
proofs of debt by May 13, 2015, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on March 24, 2015.

The company's liquidator is:

          Stuart Sybersma
          c/o Marcin Czarnocki
          Deloitte & Touche
          Citrus Grove Building, 4th Floor
          Goring Avenue George Town KY1-1109
          Cayman Islands
          Telephone: +1 (345) 814 2228
          Facsimile: +1 (345) 949 8258


KOCH CAPITAL: Shareholder to Receive Wind-Up Report on May 5
------------------------------------------------------------
The shareholder of Koch Capital Finance Company (Cayman) Ltd. will
receive on May 5, 2015, at 9:00 a.m., the liquidator's report on
the company's wind-up proceedings and property disposal.

The company commenced liquidation proceedings on March 27, 2015.

Only creditors who were able to file their proofs of debt by
May 4, 2015, will be included in the company's dividend
distribution.

The company's liquidator is:

          Stuarts Walker Hersant
          P.O. Box 2510 Grand Cayman KY1-1104
          Cayman Islands
          Telephone: (345) 949 3344
          Facsimile: (345) 949 2888


SENRIGAN SPV: Creditors' Proofs of Debt Due May 13
--------------------------------------------------
The creditors of Senrigan SPV Feeder Fund Limited are required to
file their proofs of debt by May 13, 2015, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on March 23, 2015.

The company's liquidator is:

          Highwater Limited
          c/o Nicole Gagliano
          Telephone: (345) 943 2295
          Facsimile: (345) 943 2294
          Grand Pavilion Commercial Centre, 1st Floor
          802 West Bay Road
          P.O. Box 31855 Grand Cayman KY1-1207
          Cayman Islands


TORO ABS: Creditors' Proofs of Debt Due May 13
----------------------------------------------
The creditors of Toro ABS CDO II, Ltd. are required to file their
proofs of debt by May 13, 2015, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on March 30, 2015.

The company's liquidator is:

          Intertrust SPV (Cayman) Limited
          190 Elgin Avenue, George Town
          Grand Cayman KY1-9005
          Cayman Islands
          c/o Jennifer Chailler
          Telephone: (345) 943-3100


YORK SOLUTIONS: Creditors' Proofs of Debt Due May 11
----------------------------------------------------
The creditors of York Solutions Cayman Fund Limited are required
to file their proofs of debt by May 11, 2015, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on March 30, 2015.

The company's liquidator is:

          Claire Loebell
          c/o Steve Bull
          Ernst & Young Ltd
          62 Forum Lane, Camana Bay
          P.O. Box 510 Grand Cayman KY1-1106
          Cayman Islands
          Telephone: (345) 814 9060
          Facsimile: (345) 814 8529


ZARIA LIMITED: Commences Liquidation Proceedings
------------------------------------------------
On March 26, 2015, the sole shareholder of Zaria Limited 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:

          Eagle Holdings Ltd.
          c/o PO Box 487 Grand Cayman
          Cayman Islands
          Telephone: +1 (345) 914 6365


ZURBANO FUND: Creditors' Proofs of Debt Due May 11
--------------------------------------------------
The creditors of Zurbano Fund Limited are required to file their
proofs of debt by May 11, 2015, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on March 30, 2015.

The company's liquidator is:

          Claire Loebell
          c/o Steve Bull
          Ernst & Young Ltd
          62 Forum Lane, Camana Bay
          P.O. Box 510 Grand Cayman KY1-1106
          Cayman Islands
          Telephone: (345) 814 9060
          Facsimile: (345) 814 8529


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


* DOMINICAN REP: Senate OKs US$656MM Loan for 'Clean' Coal Plants
-----------------------------------------------------------------
Dominican Today reports that the Senate approved a loan of more
than US$656.0 million to build two 'clean' coal-fired power plants
Punta Catalina, Peravia province (south).

The loan from Brazil's BNDES bank and the construction company
Odebrecht, to be executed by the Dominican State-owned Electric
Utility (CDEEE), according to Dominican Today.

The report notes that the Finance Committee rendered a favorable
report hours after hearing from a delegation of experts including
the CEO of the CDEEE Ruben Jimenez Bichara, among others.

The Punta Catalina project consists of two power plants of 360 MW
megawatts each that will operate with clean pulverized coal, the
report adds.


* DOMINICAN REPUBLIC: U.S. Could Ease Agricultural Ban
------------------------------------------------------
Dominican Republic reports that U.S. ambassador James Brewster
revealed that Washington evaluates a partial lifting of the ban on
Dominican fruit and vegetables affected by the med-fly and how his
government can collaborate in infrastructure projects in the
Dominican Republic.

"The country has received several American technicians who are
working to eradicate this situation and I understand that we're
very close to doing so," Mr. Brewster said in a statement from the
embassy, according to Dominican Republic.  "We can therefore
expect to lift several products from the ban soon," Mr. Brewster
added.


* DOMINICAN REPUBLIC: U.S. Ambassador Discuss Infrastructure Proj.
------------------------------------------------------------------
Dominican Republic reports that U.S. ambassador James Brewster
met with government officials and business leaders to discuss
infrastructure projects in the Dominican Republic and how the US
can collaborate and provide support.

Participants spoke with Mr. Brewster on the current status of the
infrastructure works throughout the Dominican Republic including
roads, houses, ports, airports among others, the report relates.

Mr. Brewster stressed the importance of continuing to bolster US-
Dominican Republic trade, which can be supplemented by developing
joint projects of national importance, the report notes.

The breakfast meeting was held in the US Ambassador's residence,
where Brewster invited those present to join the Dominican
delegation he will lead to the Discover Global Markets Forum from
May 12 to 14 in Miami, Florida, the report relays.


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


JAMAICA: BOJ to Cut Benchmark Interest Rates April 17
-----------------------------------------------------
RJR News reports that the Bank of Jamaica will cut its benchmark
30 day interest rates on April 17; the first time in two years.

The reduction, which paves the way for lending institutions to cut
rates across the board, is the first one since February 25, 2013,
according to RJR News.

With the reduction, the yield on the BoJ's 30 day Certificates of
Deposit moves from 5.75 per cent to 5.5 per cent, the report
notes.

The Central Bank, in notes accompanying the announcement, said the
rate cut is due to its expectation that inflation in the current
fiscal year will remain low, the report relates.

Earlier, the Statistical Institute of Jamaica reported that
inflation in the 2014/15 fiscal year was four per cent, the report
notes.  That was the lowest inflation has been in 48 years, as oil
prices fell and the government's hold on spending sapped demand,
the report says.

Responding to the announcement of the interest rate reduction, Dr.
Adrian Stokes, Vice President for Strategy Business Analysis at
Scotiabank, said it was not surprising, given "the fact that
inflation is tapering off and growth is actually slowing in the
economy," the report discloses

Against that background, Dr. Stokes said, the central bank cutting
interest rate "is the right thing to do," the report relays.

The report says that Dr. Stokes suggested that the move will not
have a significant impact on lending rates, however, as "the
market had already gone ahead and of the central bank, and rates
have generally been coming down in the market."

The central bank has been "trailing the market" in that regard,
Dr. Stokes said, the report adds.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Feb. 23, 2015, Fitch Ratings has affirmed Jamaica's long-term
foreign and local currency Issuer Default Ratings (IDRs) at 'B-'.
The issue ratings on Jamaica's senior unsecured foreign and local
currency bonds are also affirmed at 'B-'.  The Rating Outlooks on
the long-term IDRs are revised to Positive from Stable.  The
Country Ceiling is affirmed at 'B' and the short-term foreign
currency IDR at 'B'.


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


PUERTO RICO ELECTRIC: Forbearance Agreement Extended for 15 Days
----------------------------------------------------------------
The Puerto Rico Electric Power Authority (PREPA) bondholders
agreed to extend their forbearance agreement for 15 additional
days to provide the framework for a collaborative dialogue that
will contribute to PREPA's transformation through a comprehensive
plan.  During the new forbearance period, PREPA will have the
opportunity to provide information to its creditors and meet on a
timely basis to discuss all the elements of a plan that will
improve PREPA.  PREPA has offered to provide a formal response to
the bondholder's revitalization plan by April 24, an informative
session between the authority's rate consultant and creditors'
advisors by May 4 and the presentation of a formal comprehensive
plan by early June.

                         *     *     *

The Troubled Company Reporter on Feb. 4, 2015 reported that
Standard & Poor's Ratings Services said that it maintained its
'CCC' rating on the Puerto Rico Electric Power Authority's (PREPA)
power revenue bonds on CreditWatch with negative implications.
S&P originally placed the rating on CreditWatch on June 18, 2014.

On Dec. 15, 2014, TCRLA reported that Fitch is maintaining the
$8.6 billion of Puerto Rico Electric Power Authority (PREPA) power
revenue bonds on Negative Rating Watch.  The bonds are currently
rated 'CC'.

As reported in the Troubled Company Reporter on Sept. 19, 2014,
Moody's Investors Service has downgraded the rating for Puerto
Rico Electric Power Authority's (PREPA) $8.8 billion of Power
Revenue Bonds to Caa3 from Caa2.  This rating action concludes the
rating review that Moody's initiated on July 1, 2014.  PREPA's
rating outlook is negative.


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


* LATIN AMERICA: Moody's Says Weak Currencies Affects Companies
---------------------------------------------------------------
The weakening of Latin American currencies against the US dollar
through 2015 and into 2016 will affect the cash-flow of companies
with significant dollar-denominated debt maturing this year,
Moody's Investors Service says in a new report. At the same time,
it offers considerable cost advantages to export-based businesses
and those that spend mainly in their local currency.

"Over the past decade Latin America attracted substantial
international debt financing due to its economic strength," says
Vice President-Senior Analyst, Barbara Mattos. "But more recently,
as local currencies lost ground to the US dollar and other strong
currencies, borrowers' interest payments and other costs have
risen."

While currency depreciation varies by country, companies that use
mainly foreign financing but draw most of their revenues at home
are the most vulnerable and face immediate strain, Mattos says in
"Weak Currencies Help Exporters, Hurt Airlines, Oil, Consumer
Goods Sectors." Weak currencies also raise domestic production
costs that companies can't always pass on to their customers.

"Oil giants Petrobras and PEMEX face more costly dollar-
denominated interest payments and capital investments than most
other Latin American integrated oil companies," says Mattos.
"Significant foreign-denominated debt or costs also raise risks
for regionally focused retailers, including InRetail Consumer,
Maestro Peru, Gloria Foods, SMU and Automotores Gildemeister."

Currency depreciation will have less overall effect on the
building materials, heavy construction, steel, sugar-ethanol and
telecom sectors. Brazil's Votorantim Cimentos has more foreign
debt than other building materials companies, as it generates
around 30% of its revenues in foreign currency through
international operations in four continents, while construction
companies can pass some higher costs on to customers. For
Brazilian sugar-ethanol producers Ra¡zen and Biosev low dollar-
denominated sugar prices are offset by the steep depreciation of
the real, and companies including Telefonica Brasil and Oi limit
their foreign-exchange risk through hedging.

Meanwhile, export-dependent producers of chemicals, metals, paper
and forest products and protein will benefit from weaker local
currencies, Moody's new report says. Among companies, Mexican
chemical makers Alpek, Mexichem and Consolidated Energy Finance
face little risk from the depreciation of the peso, while
Brazilian chemical company Braskem benefits from the weak real.
Currency depreciation favors Brazil's Vale more than its mining
peers in Peru or Chile. And Fibria Celulose, Suzano Papel e
Celulose, Empresas CMPC and Celulosa Arauco y Constitucion all
stand to gain from both more competitive exports and higher
production volumes.


* BOND PRICING: For the Week From April 6 to April 10, 2015
-----------------------------------------------------------

Issuer Name     Cpn   Bid Price Maturity Date Country   Curr
-----------     ---   --------- ------------- -------   ----
PDVSA            8.5     56.25   11/2/2017      VE       USD
PDVSA            8.5     66.7    11/2/2017      VE       USD
PDVSA            5.25    42.09   4/12/2017      VE       USD
Venezuela
Int'l Bond       12.75   44.7    8/23/2022      VE       USD
Transocean Inc    6.8    73.8    3/15/2038      KY       USD
PDVSA            12.75   47.52   2/17/2022      VE       USD
Venezuela



Int'l Bond       11.95   41.95    8/5/2031      VE       USD
CSN Islands

XII Corp          7      70.25                  BR       USD
Banco Mercantil
do Brasil SA      9.62    45.5    7/16/2020     BR       USD
Banco do
Brasil SA/Cayman  6.25    68.5                  KY       USD
Transocean Inc    3.8     73.8    10/15/2022    KY       USD
MIE Holdings
Corp              7.5     60.12    4/25/2019    HK       USD
PDVSA             9       39.5    11/17/2021    VE       USD
Anton Oilfield    7.5     68.85   11/6/2018     CN       USD
PDVSA             5.37    31.84    4/12/2027    VE       USD
PDVSA             6       33.15    5/16/2024    VE       USD
PDVSA             6       32.24   11/15/2026    VE       USD
PDVSA             9.75    38.25    5/17/2035    VE       USD
Schahin II
Finance Co
SPV Ltd           5.87    60.5     9/25/2022    KY       USD
Odebrecht Oil
& Gas
Finance Ltd       7       54.5                  KY       USD
Kaisa Group
Holdings Ltd     10.25    57       1/8/2020     CN       USD
Venezuela
Int'l Bond       11.75    41.75   10/21/2026    VE       USD
Offshore Group
Investment Ltd    7.5     57.27   11/1/2019     KY       USD
PDVSA             5.5     31.5     4/12/2037    VE       USD
PDVSA             5.12    60.25   10/28/2016    VE       USD
Kaisa Group
Holdings Ltd      9       51.5     6/6/2019     CN       USD
Cimento Tupi SA   9.75    40       5/11/2018    BR       USD
Kaisa Group
Holdings Ltd      6.87    52.12    4/22/2016    CN       CNY
Honghua
Group Ltd         7.45    53.75    9/25/2019    CN       USD
Venezuela
Int'l Bond        7.75    36.75   10/13/2019    VE       USD
Venezuela
Int'l Bond        9.37    37.9     1/13/2034    VE       USD
Venezuela
Int'l Bond        6       34.75    12/9/2020    VE       USD
Automotores
Gildemeister SA   8.25    40.25     5/24/2021   CL       USD
Tonon
Bioenergia SA     9.25    29.75     1/24/2020   BR       USD
Gol Finance       8.75    68.4                  BR       USD
MIE Holdings
Corp              6.87    68        2/6/2018    HK       USD
Venezuela
Int'l Bond        9       37.1      5/7/2023    VE       USD
Venezuela
Int'l Bond        7       40.95    12/1/2018    VE       USD
Mongolian
Mining Corp       8.87    70        3/29/2017   MN       USD
USJ Acucar
e Alcool SA       9.875   45        11/9/2019   BR       USD
Venezuela
Int'l Bond        9.25    37.4       5/7/2028   VE       USD
Automotores
Gildemeister SA   6.75    34         1/15/2023  CL       USD
Offshore Group
Investment Ltd    7.12    53.95      4/1/2023   KY       USD
CA La
Electricidad
de Caracas        8.5     37         4/10/2018  VE       USD
Kaisa Group
Holdings Ltd      8       66.2      12/20/2015  CN       CNY
Venezuela
Int'l Bond       13.62    68         8/15/2018  VE       USD
Inversiones
Alsacia SA        8       67.03     12/31/2018  CL       USD
Polarcus Ltd      2.87    51.40      4/27/2016  AE       USD
China Precious
Metal Resources
Holdings          7.25     49.83      2/4/2018  HK       HKD
SMU SA            7.75     71.8       2/8/2020  CL       USD
NQ Mobile Inc     4        65        10/15/2018 CN       USD
Glorious
Property
Holdings Ltd      13.25    63.37      3/4/2018  HK       USD
Schahin II
Finance Co
SPV Ltd           5.87     60.715     9/25/2022 KY       USD
BA-CA Finance
Cayman Ltd        1.21     61.625               KY       EUR
Odebrecht
Finance Ltd       8.25     74.35      4/25/2018 KY       BRL
BCP Finance Co    2.10     56.375               KY       EUR
Polarcus Ltd      8        25.5       6/7/2018  AE       USD
Newland
International
Properties Corp   9.5      38.5       7/3/2017  PA       USD
PSOS Finance
Ltd              11.75     73.25      4/23/2018 KY       USD
BA-CA Finance
Cayman 2 Ltd      0.69     60.5                 KY       EUR
Polarcus Ltd      8.73     25         7/8/2019  AE       NOK
Inversora de
Electrica
de Buenos
Aires SA IEBA     6.5      44.5       9/26/2017 AR       USD
Tonon
Bioenergia SA     9.25     30.35      1/24/2020 BR       USD
PDVSA             8.5      66.6      11/2/2017  VE       USD
MIE Holdings
Corp              7.5      69.5       4/25/2019 HK       USD


Banco do Brasil
SA/Cayman         6.25     67.25                KY       USD
General
Exploration
Partners Inc      11.5     73.5      11/13/2018 CA       USD
PDVSA              6       32         5/16/2024 VE       USD
ESFG
International Ltd  5.75     0.326               KY       EUR
USJ Acucar
e Alcool SA        9.87    46        11/9/2019  BR       USD
Odebrecht Oil
& Gas Finance
Ltd                7       54                   KY       USD
PDVSA             12.75    53.25     2/17/2022  VE       USD
Automotores
Gildemeister SA    6.75    34.5      1/15/2023  CL       USD
Mongolian
Mining Corp        8.87    70.25     3/29/2017  MN       USD
Automotores
Gildemeister SA    8.25    36.31     5/24/2021  CL       USD
PDVSA              9       37.12    11/17/2021  VE       USD
Venezuela
Government
Int'l Bond         13.62   61.88     8/15/2018  VE       USD
Anton Oilfield
Services
Group/Hong Kong     7.5    70       11/6/2018   CN       USD
EDNAR              10.5    84.5     10/9/2017   AR       USD
Cimento Tupi SA     9.75   48        5/11/2018  BR       USD
Honghua Group Ltd   7.45   54.75     9/25/2019  CN       USD
Banco Mercantil
do Brasil SA        9.625  42.625    7/16/2020  BR       USD
PDVSA               9.75   38.7      5/17/2035  VE       USD
EDNAR               9.75   74       10/25/2022  AR       USD
Greenfields
Petroleum Corp      9      25.05     5/31/2017  US       CAD
CSN Islands
XII Corp            7      70.47                BR       USD
Gol Finance         8.75   65.875               BR       USD
Argentina Bocon    21.875  73.73      1/4/2016  AR       ARS
Newland
International
Properties Corp      9.5   37.75      7/3/2017  PA       USD
Venezuela
Government
TICC Bond            5.25  55.36     3/21/2019  VE       USD
SMU SA               7.75  72.44     2/8/2020   CL       USD
Provincia
de Tucuman
Argentina            0.40   42.7     9/5/2015   AR       USD
Ruta del Bosque
Sociedad
Concesionaria
SA                   6.3     65.67   3/15/2021  CL       CLP
Cia Cervecerias
Unidas SA            4       53.32  12/1/2024   CL       CLP
Cia Sud
Americana
de Vapores SA        6.4     54.31  10/1/2022   CL       CLP
Provincia
del Chaco            4       68.01  12/4/2026   AR       USD
Talca Chillan
Sociedad
Concesionaria SA     2.75    48.77  12/15/2019  CL       CLP
Venezuela
Government
Int'l Bond           7.65    34.5    4/21/2025  VE       USD
Venezuela
Government
Int'l Bond           7       35      3/31/2038   VE      USD
Decimo Primer
Fideicomiso
de Bonos de
Pres                 4.54    66.5   10/25/2041   PA      USD
Venezuela
Government
Int'l Bond          13.62    66.12   8/15/2018   VE      USD
Venezuela
Government
Int'l Bond           8.25    35.4   10/13/2024   VE      USD
Venezuela
Government
Int'l Bond           9.25    40.25   9/15/2027   VE      USD
Empresa de
los Ferrocarriles
del Estado           6.5     71.4    1/1/2026    CL      CLP


                            ***********


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 2015.  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
202-362-8552.


                   * * * End of Transmission * * *