TCRLA_Public/170804.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

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

               Friday, August 4, 2017, Vol. 18, No. 154


                            Headlines



B O L I V I A

BOLIVIA: Moody's Changes Outlook on 12 Bolivian Banks to Stable
DELAPAZ: Moody's Changes Outlook on Ba3 CFR to Stable


B R A Z I L

BRAZIL: Corporate Credit Quality to Improve, Moody's Says
CAIXA ECONOMICA: S&P Keeps 'BB/B' Ratings on CreditWatch Neg.
HAITONG BRASIL: S&P Revises Outlook on BB- Ratings to Negative


C O L O M B I A

COLOMBIA TELECOMUNICACIONES: S&P Puts 'BB' CCR on Watch Negative


C O S T A   R I C A

COSTA RICA: Will Have Trouble Paying Bills, President Says


D O M I N I C A N   R E P U B L I C

DOMINICAN REP: Housing Project Nips US$25MM From Pension Fund


J A M A I C A

JAMAICA: Laws Amended to Allow Firms on JSE to Repurchase Shares
NATIONAL COMMERCIAL BANK: Senior Management Team Member Resigns


M E X I C O

MEXICO: Expects Speedy Renegotiation of NAFTA


P U E R T O    R I C O

ERGON CARIBBEAN: Unsecureds to Recoup 3% Under Plan
JEM REST CORP: Unsecureds to Recoup 31% in 60 Months
GOODMAN AND DOMINGUEZ: Panel Hires Berger Singerman as Counsel
MINI MASTER: Burgos Buying 2006 GMC Envoy CR-91 for $700
MINI MASTER: Marrero Buying 2008GMC Yukon CR-93 for $2K

PUERTO RICO: Trustee Says Creditors' Panel Expansion Unnecessary


T R I N I D A D  &  T O B A G O

TRINIDAD & TOBAGO: Murder Rate, Handouts Hurting Real Growth


                            - - - - -


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B O L I V I A
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BOLIVIA: Moody's Changes Outlook on 12 Bolivian Banks to Stable
---------------------------------------------------------------
Moody's Latin America Agente de Calificacion de Riesgo S.A. (MLA)
has changed the outlooks to stable, from negative, on certain
ratings of 12 Bolivian banks. In addition, Moody's affirmed all of
the affected issuers' ratings and assessments. These actions
follow the change in outlook to stable, from negative, on
Bolivia's Ba3 government bond rating, on August 1, 2017.

Specifically, Moody's revised the outlooks on local currency long-
term deposit, foreign currency long-term deposit, senior unsecured
debt and/or issuer ratings of 12 Bolivian banks.

A list of the Affected Ratings is available at:

                       http://bit.ly/2uZBV3j

RATINGS RATIONALE

* Principal Methodology

The rating actions were prompted by the change in outlook to
stable, from negative, on Bolivia's sovereign bond rating, owing
to stabilizing fiscal and current account deficits which suggest
that the impact of lower hydrocarbon prices on the sovereign's
credit profile has been contained; and Moody's expectation that
Bolivia's growth, fiscal and external metrics, although weakened,
are likely to remain consistent with its Ba3 rating.

Consequently, Moody's changed the outlooks on 9 entities' local
currency long-term deposit ratings, 12 foreign currency long-term
deposit ratings, one local currency issuer rating and 3 local
currency senior unsecured debt ratings. The outlook on Banco Do
Brasil S.A. (Bolvia)'s foreign currency long-term deposit rating
was changed to stable from negative, however, its entity level
outlook remains negative (multiple) to reflect the negative
outlook on its parent bank ratings. At the same time, Moody's
affirmed all ratings whose outlooks were revised, as well as all
other ratings and baseline credit assessments (BCAs) of the
issuers including their national scale ratings.

The affirmations consider the strength of the selected issuers
notwithstanding the pressures of complying with increased
government regulations, including interest rate caps and mandated
lending requirements. In line with the schedule laid out in the
2013 banking law, by 2018 banks have to direct 60% of their loan
portfolios to priority economic sectors. This mandated lending is
also subject to interest rate caps that are below market rates, in
some cases considerably so.

While this has raised the prospects of higher asset risk as well
as lower profitability, the banks' capitalization remains more
than sufficient to absorb expected losses. Core local currency
savings and demand deposits also continue to represent the
majority of total funding, which enhances funding stability and
helps contain funding costs. The banks also report sufficient
levels of liquidity.

WHAT COULD CHANGE THE RATING -- UP/DOWN

The affected ratings could face upward pressure if Bolivia's
government bond rating is upgraded and its country ceilings
raised. Downward pressure could come from a meaningful
deterioration of bank specific financial metrics, particularly
asset risk and profitability.

ENTITIES AFFECTED

1- Banco BISA S.A.;

2- Banco Economico S.A. (Bolivia);

3- Banco FIE S.A.;

4- Banco Ganadero S.A.;

5- Banco Nacional de Bolivia S.A.;

6- Banco Mercantil Santa Cruz S.A.;

7- Banco Union S.A. (Bolivia);

8- Banco de Credito de Bolivia S.A.;

9- Banco Solidario S.A. (Bolivia);

10- Banco do Brasil S.A. (Bolivia);

11- Banco de Desarrollo Productivo S.A.M.

12- Banco Fassil S.A.;

The principal methodology used in these ratings was Banks
published in January 2016.


DELAPAZ: Moody's Changes Outlook on Ba3 CFR to Stable
-----------------------------------------------------
Moody's Latin America Agente de Calificacion de Riesgo S.A. has
changed the rating outlook to stable and affirmed the current
ratings on its rated infrastructure companies operating in
Bolivia. The outlook change for the affected companies follows the
revision of Bolivian government's Ba3 issuer rating outlook to
stable from negative on August 1, 2017 and reflects the exposure
and linkages that these companies have to the Bolivian government
credit quality.

RATINGS RATIONALE

Moody's changed the rating outlook to stable from negative and
affirmed the current ratings on its rated infrastructure companies
operating in Bolivia. The outlook change for the affected
companies follows the outlook change of Bolivia's Ba3 issuer
rating outlook to stable from negative on August 1st., 2017 and
reflects the exposure and linkages that these companies have to
the Bolivian government credit quality.

The change in outlook for the affected issuers reflects Moody's
view that the creditworthiness of these companies cannot be
completely de-linked from the credit quality of the Bolivian
government, and thus their ratings need to closely reflect the
risk that they share with the sovereign.

Particularly, the outlook considers that the affected companies
are regulated concessions, subject to regulated tariffs and local
economic conditions.

ISSUERS AND RATINGS AFFECTED

Issuer: YPFB Transierra S.A. (Transierra)

Corporate Family Rating, Senior Unsecured Regular Bond/Debenture
2020 and Senior Unsecured Regular Bond/Debenture 2023: Ba3 global
scale and Aa2.bo national scale ratings affirmed, outlook changed
to stable from negative.

Issuer: Distribuidora de Electricidad La Paz S.A. (Delapaz)

Corporate Family Rating and Senior Unsecured Regular Bond: Ba3
global scale and Aa1.bo national scale ratings affirmed, outlook
changed to stable from negative.

The principal methodology used in rating Distribuidora de
Electricidad La Paz S.A. was Regulated Electric and Gas Utilities
published in June 2017. The principal methodology used in rating
YPFB Transierra S.A. was Natural Gas Pipelines published in
November 2012.



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B R A Z I L
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BRAZIL: Corporate Credit Quality to Improve, Moody's Says
---------------------------------------------------------
Corporate credit quality in Brazil (Ba2 negative) will modestly
improve through 2018 after its worst recession in history,
supported by a more stable economy and deleveraging initiatives
carried out by companies, says Moody's Investors Service in a new
report.

"A robust improvement, however, will depend on a sustained
recovery in both demand and corporate investment, which appears
unlikely during 2017-18," says Marcos Schmidt, a Moody's vice
president -- senior analyst and lead author of the report.

Moody's expects modest GDP growth of 0.5% in 2017 and 1.5% in 2018
as Brazil's economy slowly emerges from two years of recession.
The economy is still coping with weak consumption and employment
levels, as well as from political uncertainty and external risks
that have delayed key structural reforms.

One upside: the financial markets appear to have shrugged off the
recent charges against President Michel Temer. The real has
strengthened, stock markets have risen and bond issuances have
continued. Accordingly, investor sentiment has been holding,
despite political turmoil, favoring some large corporates' market
access.

Looking ahead, falling inflation rates should allow the central
bank to reduce interest rates towards a 4.5% target, which will
benefit government debt levels.

Smaller, lower rated companies also continue to see liquidity
risk, as their funding is restricted both locally and
internationally. Local banks, for example, reduced lending to non-
financial corporates by 8.9% in the last twelve months ended June
2017.


CAIXA ECONOMICA: S&P Keeps 'BB/B' Ratings on CreditWatch Neg.
-------------------------------------------------------------
S&P Global Ratings maintained its CreditWatch Negative listing on
its  'BB/B' foreign currency and 'brAA-/brA-1' local currency
ratings on Caixa Economica Federal (Caixa). S&P said, "The
CreditWatch listing is based on our outlook on Brazil, and we
expect the ratings on the bank to move in tandem with those on the
sovereign. The bank's stand-alone credit profile (SACP) is still
'bb', despite deterioration in the banks capitalization and still-
high levels of refinancing.

"The negative CreditWatch listing reflects the risk that we could
lower the  ratings on Caixa Economica in the next three months
amid more-stressed political and economic dynamics. A politically
weakened President Temer, a long or disruptive transition process,
or a caretaker president with diminished ability and willingness
to advance reforms would likely further delay economic recovery,
increasing the credit risk for the financial institutions
operating in the country.

"We could resolve the CreditWatch listing by lowering the ratings
on the bank if we reevaluate our view of the banking sector's risk
and of each bank's credit fundamentals in light of a more
difficult economic scenario that may constrain Brazil's recovery
and undermine the performance of banks' loan portfolios.

"We could remove the CreditWatch negative listing on the bank if
the same rating action is taken on Brazil and if we see political
uncertainties as short-lived, and if an administration and
economic team has sufficient support in Congress to continue
advancing corrective and timely policy measures to stanch fiscal
deterioration and strengthen GDP growth prospects."


HAITONG BRASIL: S&P Revises Outlook on BB- Ratings to Negative
--------------------------------------------------------------
S&P Global Ratings revised its outlook on Haitong Banco de
Investimento do Brasil S.A.'s (Haitong Brasil) long-term global
scale 'BB-' ratings to negative from stable. S&P said, "We're also
keeping our national scale ratings on the bank on CreditWatch
negative."

S&P said, "The revision of our outlook on Haitong Brasil's global
scale ratings to negative from stable reflects the same action on
its parent, which resulted from the prolonged challenges Haitong
Bank faces in reshaping its business model and returning to
profitability. We also consider that Haitong Brasil is taking
longer than expected to implement synergies from its integration
with its parent and to restructure its balance sheet, which would
allow business expansion."



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C O L O M B I A
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COLOMBIA TELECOMUNICACIONES: S&P Puts 'BB' CCR on Watch Negative
----------------------------------------------------------------
S&P Global Ratings placed its 'BB' long-term corporate credit and
issue-level ratings on Colombia Telecomunicaciones S.A. E.S.P.
(Coltel) on CreditWatch negative. In addition, S&P placed its 'B'
issue-level rating on the company's hybrid capital securities on
CreditWatch negative.

S&P said, "The CreditWatch listing follows a recent COP1.6
trillion (US$535 million) award that an arbitration court ordered
Coltel to pay to the government. The CreditWatch negative listing
reflects our concerns over the arbitration award's potential
impact on the company's liquidity position, which is already
struggling amid significant pressure stemming from low cash flow
generation, working capital outflows, and short-term debt
maturities."

In the 1994 concession contract, Coltel agreed to return certain
telecom infrastructure assets to the government after a 10-year
period. Certain provisions of Colombian law state that in respect
of concession agreements for telecommunications services, the
obligation to return assets to the government upon expiration
applies only to the radio electric spectrum associated with the
concession. However, the Ministry of Information Technologies and
Communications sued Coltel for the asset reversion clause in 2016.

As a result, the arbitration court announced its ruling on July,
25, 2017, according to which the company has to pay COP1.6
trillion in order to comply with the obligation established in the
asset reversion clause.

Coltel has filed for clarifications, alterations, and supplements
to the court's preliminary decision, and is currently looking for
various alternatives to pay the award to the government or defer
it. The court will respond on Aug. 4, 2017, with possible delay
until Aug. 14, 2017. S&P said, "We understand that if the court's
decision remains unchanged, Coltel would have 15 business days to
pay.

"We currently view Coltel's liquidity as less than adequate due to
high capital expenditures and Patrimonio Autonomo de Activos y
Pasivos de Telecom (Parapat) payments to the Colombian government.
(Parapat is Coltel's stand-alone trust fund that holds assets and
manages pension funds formerly owned by Colombia Telecom). It's
our understanding that Telefonica S.A. (BBB/Stable/A-2), which
holds 67.5% of Coltel's equity, and the Colombian government,
which controls the remaining stake, will inject about COP4.4
trillion ($1.47 billion) into the company to enable it to prepay
its Parapat obligations, and that capitalization will take place
this year. Moreover, the government granted an extension to Coltel
on its Parapat payments from April to October 2017. However, our
concern is that the recently announced preliminary arbitration
award to the government would impair Coltel's liquidity further."



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C O S T A   R I C A
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COSTA RICA: Will Have Trouble Paying Bills, President Says
----------------------------------------------------------
EFE News reports that President Luis Guillermo Solis said in a
nationwide address that Costa Rica "faces liquidity problems in
paying its obligations and guaranteeing the provision of
services."

"Despite all the public calls and efforts we have made since the
start of my administration to contain spending and increase
revenues, there is still a gap that we must close with fresh
resources," the president said, according to EFE News.



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


DOMINICAN REP: Housing Project Nips US$25MM From Pension Fund
-------------------------------------------------------------
Dominican Today reports that President Danilo Medina broke ground
for the low-cost housing project, Higuey City Homes, to be built
at a cost of over RD$1.2 billion (US$25.0 million) from the
Pension Fund.

Speaking in the ceremony south of Higuey on the road to San Rafael
de Yuma highway, Grupo Concremax construction company president
Yunior Antonio Taveras said the project on 110,000 square meters
will have 944 apartments, of which over 300 have already been
sold, according to Dominican Today.

The developer said the project features a swimming pool, gym,
sports facilities, aqueduct, shopping plaza, security, nursery and
an "ecological corridor," the report notes.

As reported in Troubled Company Reporter-Latin America on July 24,
2017, Moody's Investors Service has upgraded the Dominican
Republic's long term issuer and debt ratings to Ba3 from B1 and
changed the outlook to stable from positive, based on the
following key drivers:

(1) The Dominican Republic's continued robust growth outlook
     compared to rating peers, coupled with a reduction in
     external risks as current account deficits have declined and
     international reserves have increased.

(2) The reduction in fiscal deficits over the last four years and
     Moody's expectation that fiscal deficits will remain shy of
     3% of GDP, supported by fiscal restraint and reduced
     transfers to the electricity sector.



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J A M A I C A
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JAMAICA: Laws Amended to Allow Firms on JSE to Repurchase Shares
----------------------------------------------------------------
Caribbean360.com reports that companies listed on the Jamaica
Stock Exchange (JSE) will soon have the option to repurchase their
shares tax free.

This follows the passage of three Bills which are being amended to
allow for a tax exemption for listed companies using the share
buyback option: the Transfer Tax (Amendment) Act, the Income Tax
(Amendment) Act and the Stamp Duty (Amendment) Act, according to
Caribbean360.com.

Piloting the Bills, State Minister in the Ministry of Finance and
the Public Service, Fayval Williams explained that the share
repurchase option was introduced through an amendment to the
Companies Act in 2004, the report notes.  Section 58 of the Act
allows a company the power to redeem, purchase or otherwise
acquire shares issued by the company, the report relays.

However, Williams pointed out that there was a discrepancy between
this option and related tax laws, which made it unattractive to
shareholders, the report discloses.

"The 2004 amendments to the Companies Act did not provide for the
consequential amendments in the relevant tax legislation.  As a
result, very few companies availed themselves of this option due
to the tax implication which has been identified as a disincentive
to the effective take-up of this option in the local securities
market," she said, the report says.

The State Minister explained that currently, an ordinary
shareholder is able to sell his/her shares to a third party and
would get the full proceeds tax fee. However, if that shareholder
were to sell those same shares to his/her own company, that
individual would be subject to income tax, the report notes.

"The Ministry of Finance and the Public Service supports the
amendments (to the Bills) as a part of the continued reform
efforts, provided that the tax exempt benefit would be limited to
listed companies and in accordance with the Companies Act, amended
rules of the JSE, and the regulations and guidelines of the
Financial Services Commission," she said, the report adds..

As reported in the Troubled Company Reporter-Latin America on
Feb. 9, 2017, Fitch Ratings affirmed Jamaica's Long-Term Foreign
and Local Currency Issuer Default Ratings (IDRs) at 'B' with a
Stable Outlook. The issue ratings on Jamaica's senior unsecured
Foreign and Local Currency bonds are also affirmed at 'B'. The
Outlooks on the Long-Term IDRs are Stable. The Country Ceiling is
affirmed at 'B' and the Short-Term Foreign Currency and Local
Currency IDRs at 'B'.


NATIONAL COMMERCIAL BANK: Senior Management Team Member Resigns
---------------------------------------------------------------
RJR News reports that a member of National Commercial Bank's (NCB)
senior management team has resigned.

Senior General Manager of the Retail Banking Division, Audrey
Tugwell Henry, will leave the bank on August 31, according to RJR
News.

A brief statement from NCB says Tugwell Henry will pursue
opportunities elsewhere, the report notes.

She joined NCB on June 2, 2008.

As reported in the Troubled Company Reporter-Latin America on
March 1, 2017, Fitch Ratings has affirmed National Commercial Bank
Jamaica Limited's ratings as follows:

-- Long-term foreign and local currency IDRs at 'B';
     Outlook Stable;
-- Short-term foreign and local currency IDRs at 'B';
-- Viability Rating at 'b';
-- Support Rating at '4';
-- Support Rating Floor at 'B'.



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M E X I C O
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MEXICO: Expects Speedy Renegotiation of NAFTA
---------------------------------------------
EFE News reports that Mexico expects the process of renegotiating
the North American Free Trade Agreement (NAFTA) will be rapid and
address the key points as quickly as possible, the Aztec nation's
economy minister said at a press conference.

Ildefonso Guajardo acknowledged, however, that there would be some
thorny issues, such as the United States' trade deficit with
Mexico and the US's plans to eliminate the agreement's so-called
"global safeguard exclusion" to allow Washington to respond to a
surge in imports, according to EFE News.



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P U E R T O    R I C O
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ERGON CARIBBEAN: Unsecureds to Recoup 3% Under Plan
----------------------------------------------------
Ergon Caribbean Corp. filed with the U.S. Bankruptcy Court for the
District of Puerto Rico a disclosure statement dated July 24,
2017, referring to the Debtor's plan of reorganization.

Holders of Class 4 General Unsecured Claims will receive 3%
dividend of its allowed claim within the first year of Debtor's
Plan.  This class is impaired.

The proposed plan will be funded with income obtained from the
operations of the Debtor and collection of accounts receivables.
The Debtor also holds a tax refund with Hacienda in the amount of
$133,396.  This tax refund will be used to offset any amounts owed
to this creditor under Class 2 and 4 of the Plan of Reorganization
up to its allowed amount.  Further, additional new capital will be
obtained from the cash contribution of $35,000.00 to be made by
Juan Gabriel Pla.

On the Effective Date of the Plan, the distribution,
administration and management of the Debtor's affairs, collection
of moneys, and distribution to creditors, unless otherwise
provided herein, will be under the control and supervision of Mr.
Pla, current manager and administrator.

Mr. Pla will provide new value as a cash contribution in the
amount of $35,000 on the Effective Date.  Upon payment of the new
value to be provided new shares will be issued and all existing
shares in the name of HERPLA, Noel Hernandez and Ismael Martinez
will be cancelled.  No other existing shareholder will emerge as a
shareholder in the Reorganized Debtor, unless such other
shareholders object to this Disclosure Statement and Plan of
Reorganization and provides new value.

A copy of the Disclosure Statement is available at:

            http://bankrupt.com/misc/prb17-00366-72.pdf

                    About Ergon Caribbean Corp.

Ergon Caribbean Corp. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D.P.R. Case No. 17-00366) on Jan. 25,
2017. The petition was signed by Juan Gabriel Pla, president.

At the time of the filing, the Debtor estimated assets and
liabilities of less than $500,000.

Carmen D. Conde Torres, Esq., at C. Conde & Assoc. serves as the
Debtor's bankruptcy counsel.


JEM REST CORP: Unsecureds to Recoup 31% in 60 Months
----------------------------------------------------
Jem Rest., Corp., filed with the U.S. Bankruptcy Court for the
District of Puerto Rico a disclosure statement dated July 26,
2017, referring to the Debtor's plan of reorganization.

General unsecured creditors are classified in Class 1, and will
receive a distribution of 31% of their allowed claims, to be
distributed in 60 unequal monthly payments after the Effective
Date of the Plan, as follows: 48 monthly payments commencing on
the Effective Date of $200 in the aggregate to be paid on a pro-
rata basis, and 12 monthly payments thereafter of $10,000 in the
aggregate to be paid on a pro-rate basis.

Class 1 Claims are impaired by the Plan.  Estimated recovery is
31%.

Payments and distributions under the Plan will be funded by the
on-going operations of the Debtor.

A copy of the Disclosure Statement is available at:

          http://bankrupt.com/misc/prb16-00152-101.pdf

Headquartered in San Juan, Puerto Rico, Jem Rest., Corp., filed
for Chapter 11 bankruptcy protection (Bankr. D.P.R. Case No. 16-
00152) on Jan. 14, 2016, estimating its assets at up to $50,000
and liabilities at between $500,001 and $1 million.  Alexis
Fuentes Hernandez, Esq., at Fuentes Law Offices, LLC, serves as
the Debtor's bankruptcy counsel.


GOODMAN AND DOMINGUEZ: Panel Hires Berger Singerman as Counsel
--------------------------------------------------------------
The Official Committee of Unsecured Creditors of Goodman and
Dominguez, Inc. dba Traffic and Traffic Shoes, Traffic, Inc.,
Traffic Las Plazas, Inc., and Traffic Plaza del Norte, Inc. seeks
authorization from the U.S. Bankruptcy Court for the Southern
District of Florida to retain Christopher A. Jarvinen and the law
firm of Berger Singerman LLP as counsel to the Committee, nunc pro
tunc to July 11, 2017.

The Committee requires Berger Singerman to:

   (a) attend the meetings of the Committee;

   (b) review the financial and operational information furnished
       by the Debtors to the Committee;

   (c) analyze and negotiate the budget and the terms of the use
       of cash collateral and debtor-in-possession financing;

   (d) assist in the efforts to sell assets of the Debtors in a
       manner that maximizes value for creditors;

   (e) review and investigate the liens of purportedly secured

       parties;

   (f) review and investigate prepetition transactions in which
       the Debtors and/or their lenders were involved;

   (g) confer with the principals, counsel and advisors of the
       Debtors' lenders and equityholders;

   (h) review the Debtors' schedules, statements of financial
       affairs and business plan;

   (i) advise the Committee as to the ramifications regarding all
       of the Debtors' activities and motions before this Court;

   (j) prepare and file appropriate pleadings on behalf of the
       Committee;

   (k) review and analyze the Debtors' investment banker's work
       product and report to the Committee;

   (l) analyze and negotiate any proposed chapter 11 plan or exit
       strategy in these cases;

   (m) provide the Committee with legal advice in relation to
       these chapter 11 cases;

   (n) prepare various applications and memoranda of law submitted

       to the Court for consideration, and handle all other
       matters relating to the representation of the Committee
       that may arise;

   (o) execute its duties under section 1103 of the Bankruptcy
       Code; and

   (p) perform such other legal services for the Committee as may
       be necessary or proper in these cases.

   (k) review and analyze the Debtors' investment banker's work
       product and report to the Committee;

   (l) analyze and negotiate any proposed chapter 11 plan or exit
       strategy in these cases;

   (m) provide the Committee with legal advice in relation to
       these chapter 11 cases;

   (n) prepare various applications and memoranda of law submitted

       to the Court for consideration, and handle all other
       matters relating to the representation of the Committee
       that may arise;

   (o) execute its duties under section 1103 of the Bankruptcy
       Code; and

   (p) perform such other legal services for the Committee as may
       be necessary or proper in these cases.

Berger Singerman's services will be paid at these hourly rates:

       Christopher A. Jarvine, Partner    $625
       Attorneys                          $295-$695
       Associates and Of Counsel          $295-$525
       Legal Assistants and Paralegals    $75-$235

Berger Singerman agreed with the Committee that it will apply a
discount to any court-approved fees so that its hourly rates will
not exceed $500 per hour per time biller.

Berger Singerman will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Christopher A. Jarvinen, partner of Berger Singerman, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

Berger Singerman can be reached at:

       Christopher A. Jarvinen, Esq.
       BERGER SINGERMAN LLP
       1450 Brickell Avenue, Suite 1900
       Miami, FL 33131
       Tel: (305) 755-9500
       Fax: (305) 714-4340
       E-mail: cjarvinen@bergersingerman.com

                    About Goodman and Dominguez

Goodwin and Dominguez, Inc. and its affiliated entities own and
operate a closely-held business in the retail shoe industry and
on-line sales via e-commerce at http://www.trafficshoe.com/
The business, which started in Miami in 1989 with just one store,
strives to provide the hottest footwear to a fashion forward,
budget conscious consumer.

On Jan. 4, 2016, Goodwin and Dominguez and its affiliates
co-debtors Traffic, Inc., Traffic Las Plazas, Inc., and Traffic
Plaza Del Norte, Inc., filed voluntary petitions for relief under
chapter 11 of the Bankruptcy Code and those cases remain pending
and are jointly administered under Case No. 16-10056.

When they sought bankruptcy protection in 2016, the Debtors
operated 83 mall-based stores located in 9 states within the U.S.
and Puerto Rico and employed 608 employees.  Upon the effective
date of the reorganization plan confirmed December 2016, the
Debtors expected to continue operating 62 mall-based stores with
477 employees.

The Official Committee of Unsecured Creditors formed in the
original cases tapped Christopher A. Jarvinen and the Law Firm of
Berger Singerman LLP as counsel and KapilaMukamal as financial
advisor.

On June 9, 2017, Goodwin and Dominguez and its affiliated debtors
commenced new Chapter 11 cases (Bankr. S.D. Fla. Lead Case No.
17-17237).

Goodwin and Dominguez estimated $1 million to $10 million in
assets and liabilities.

The Hon. Robert A Mark is the case judge.

Meland Russin & Budwick, P.A., is serving as counsel to the
Debtors.  It also served as counsel to the Debtors in the original
cases.

Christopher A. Jarvinen, Esq. at Berger Singerman LLP serves as
counsel to the Debtors' Official Committee of Unsecured Creditors.


MINI MASTER: Burgos Buying 2006 GMC Envoy CR-91 for $700
--------------------------------------------------------
Mini Master Concrete Services, Inc., asks the U.S. Bankruptcy
Court for the District of Puerto Rico to authorize the private
sale of 2006 GMC Envoy CR-91, Serial/ID No. 1GKDS13S362114705, to
Jose A. Burgos for $700.

Objections, if any, must be filed within 21 days after service.

The Debtor owns the unencumbered Vehicle for which it has no use
and must be sold to maximize its estate, in line with its
Liquidating Plan, and preclude its further deterioration.

The Debtor considers Mr. Burgos' offer as reasonable and fair.
Maintaining the Vehicle, not in use by Debtor, is causing
unnecessary administrative expenses such as security, insurance
and property taxes, which are unnecessary and burdensome to its
estate.

The Debtor must sell the Vehicle as expeditiously as possible, in
order to maximize its value and avoid its deterioration,
particularly considering that it is no longer in operations.
Therefore, it is in the best interest of its estate and its
creditors that the Vehicle be sold as proposed.  Accordingly, the
Debtor asks the Court to approve the sale of the Vehicle to the
Buyer free and clear of any interest.

The Purchaser can be reached at:

          Jose A. Burgos
          Bo. Cerro Gordo
          Sector La Tosca Calle 8 #12
          Bayamon, PR 00957
          Telephone: (787) 671-1346

              About Mini Master Concrete Services

Mini Master Concrete Services, Inc. filed a Chapter 11 bankruptcy
petition (Bankr. D.P.R. Case No. 16-09956) on December 22, 2016.
Judge Mildred Caban Flores over the case.  Charles A. Cuprill, PCS
Law Offices, represents the Debtor as counsel.

The Debtor disclosed total assets of $15.78 million and total
liabilities of $5.46 million.  The petition was signed by Carmen
M. Betancourt, president.

On April 28, 2017, the Debtor filed a disclosure statement, which
explains its proposed Chapter 11 plan of reorganization.


MINI MASTER: Marrero Buying 2008GMC Yukon CR-93 for $2K
-------------------------------------------------------
Mini Master Concrete Services, Inc., asks the U.S. Bankruptcy
Court for the District of Puerto Rico to authorize the private
sale of 2008GMC Yukon CR-93, Serial/ID No. 1GKFR13048J135708, to
Eneida Ortiz Marrero for $2,000.

Objections, if any, must be filed within 21 days after service.

The Debtor owns the unencumbered Vehicle for which it has no use
and must be sold to maximize its estate, in line with its
Liquidating Plan, and preclude its further deterioration.

The Debtor considers that Marrero's offer is reasonable and fair,
particularly since in addition to the $2,000 payment to the
Debtor, she is assuming the repair costs of the Vehicle and the
excise taxes that may be assessed on her by the Department of the
Treasury of Puerto Rico for due to the exempted nature of the
Vehicle in favor of the Debtor, estimated in $3,000.  Maintaining
the Vehicle, not in use by Debtor, is causing unnecessary
administrative expenses such as security, insurance and property
taxes, which are unnecessary and burdensome to its estate.

The Debtor must sell the Vehicle as expeditiously as possible, in
order to maximize its value and avoid its deterioration,
particularly considering that it is no longer in operations.
Therefore, it is in the best interest of its estate and its
creditors that the Vehicle be sold as proposed.  Accordingly, the
Debtor asks the Court to approve the sale of the Vehicle to the
Buyer free and clear of any interest.

The Purchaser can be reached at:

          Eneida Ortiz Marrero
          Bo. #243 Heracleo Rivera
          Parc. Torrecillas
          Morovis, PR 00687
          Telephone: (787) 481-3717

               About Mini Master Concrete Services

Mini Master Concrete Services, Inc., filed a Chapter 11 bankruptcy
petition (Bankr. D.P.R. Case No. 16-09956) on Dec. 22, 2016.  The
petition was signed by Carmen M. Betancourt, president.  The
Debtor disclosed total assets of $15.78 million and total
liabilities of $5.46 million.

Judge Mildred Caban Flores oversees the case.

Charles A. Cuprill, Escq., at PCS Law Offices, is serving as
counsel to the Debtor.

On April 28, 2017, the Debtor filed a disclosure statement, which
explains its proposed Chapter 11 plan of reorganization.  The plan
proposes to pay Class 4 general unsecured creditors approximately
1.75% of their claims from a $50,000 carve out to be reserved from
the proceeds generated from the sale of the Debtor's assets.


PUERTO RICO: Trustee Says Creditors' Panel Expansion Unnecessary
----------------------------------------------------------------
Rick Archer, writing for Bankruptcy Law360, reports U.S. Trustee
Guy Gebhardt asked a Puerto Rican federal court to deny requests
to expand the creditors' committees in the island's ongoing
restructuring case, saying that one request was unnecessary and
the other not allowed.

Citing the U.S. Trustee, Law360 relates that an additional
committee to represent the retirement interests of current
commonwealth employees would duplicate the work of the existing
committees, and a committee for the island's municipal governments
would run contrary to bankruptcy law.

                       About Puerto Rico

Puerto Rico is a self-governing commonwealth in association with
the United States that's facing a massive bond debt of $70
billion, a 68% debt-to-GDP ratio and negative economic growth in
nine of the last 10 years.

The Commonwealth of Puerto Rico has sought bankruptcy protection,
aiming to restructure its massive $74 billion debt-load and $49
billion in pension obligations.

The debt restructuring petition was filed by Puerto Rico's
financial oversight board in U.S. District Court in Puerto Rico
(Case No. 17-01578) on May 3, 2017, and was made under Title III
of 2016's U.S. Congressional rescue law known as the Puerto Rico
Oversight, Management, and Economic Stability Act ("PROMESA").

The Financial Oversight and Management Board later commenced Title
III cases for the Puerto Rico Sales Tax Financing Corporation
(COFINA) on May 5, 2017, and the Employees Retirement System (ERS)
and the Puerto Rico Highways and Transportation Authority (HTA) on
May 21.  On July 2, 2017, a Title III case was commenced for the
Puerto Rico Electric Power Authority ("PREPA").

U.S. Chief Justice John Roberts has appointed U.S. District Judge
Laura Taylor Swain to oversee the Title III cases.  The Honorable
Judith Dein, a United States Magistrate Judge for the District of
Massachusetts, has been designated to preside over matters that
may be referred to her by Judge Swain, including discovery
disputes, and management of other pretrial proceedings.

Joint administration of the Title III cases, under Lead Case No.
17-3283, was granted on June 29, 2017.

The Oversight Board has hired as advisors, Proskauer Rose LLP and
O'Neill & Borges LLC as legal counsel, McKinsey & Co. as strategic
consultant, Citigroup Global Markets as municipal investment
banker, and Ernst & Young, as financial advisor.

Martin J. Bienenstock, Esq., Scott K. Rutsky, Esq., and Philip M.
Abelson, Esq., of Proskauer Rose; and Hermann D. Bauer, Esq., at
O'Neill & Borges are onboard as attorneys.

McKinsey & Co. is the Board's strategic consultant, Ernst & Young
is the Board's financial advisor, and Citigroup Global Markets
Inc. is the Board's municipal investment banker.

Prime Clerk LLC is the claims and noticing agent.  Prime Clerk
maintains a case web site at:

           https://cases.primeclerk.com/puertorico

Epiq Bankruptcy Solutions LLC is the service agent for ERS, HTA,
and PREPA.

O'Melveny & Myers LLP is counsel to the Commonwealth's Puerto Rico
Fiscal Agency and Financial Advisory Authority (AAFAF), the agency
responsible for negotiations with bondholders.

The Oversight Board named Professor Nancy B. Rapoport as fee
examiner and to chair a committee to review professionals' fees.

                      Bondholders' Attorneys

Toro, Colon, Mullet, Rivera & Sifre, P.S.C. and Kramer Levin
Naftalis & Frankel LLP serve as counsel to the Mutual Fund Group,
comprised of mutual funds managed by Oppenheimer Funds, Inc.,
Franklin Advisers, Inc., and the First Puerto Rico Family of
Funds,
which collectively hold over $3.5 billion in COFINA Bonds and over
$2.9 billion in other bonds issued by Puerto Rico and other
instrumentalities, including over $1.8 billion of Puerto Rico
general obligation bonds ("GO Bonds").

White & Case LLP and Lopez Sanchez & Pirillo LLC represent the UBS
Family of Funds and the Puerto Rico Family of Funds, which hold
$613.3 million in COFINA bonds.

Paul, Weiss, Rifkind, Wharton & Garrison LLP, Robbins, Russell,
Englert, Orseck, Untereiner & Sauber LLP, and Jimenez, Graffam &
Lausell are co-counsel to the ad hoc group of General Obligation
Bondholders, comprised of Aurelius Capital Management, LP,
Autonomy Capital (Jersey) LP, FCO Advisors LP, Franklin Mutual
Advisers LLC, Monarch Alternative Capital LP, Senator Investment
Group LP, and Stone Lion Capital Partners L.P.

Quinn Emanuel Urquhart & Sullivan, LLP and Reichard & Escalera are
co-counsel to the ad hoc coalition of holders of senior bonds
issued by COFINA, comprised of at least 30 institutional holders,
including Canyon Capital Advisors LLC and Varde Investment
Partners, L.P.

Correa Acevedo & Abesada Law Offices, P.S.C., is counsel to Canyon
Capital Advisors, LLC, River Canyon Fund Management, LLC, Davidson
Kempner Capital Management LP, OZ Management, LP, and OZ
Management II LP (the QTCB Noteholder Group).

                            Committees

The U.S. Trustee formed a nine-member Official Committee of
Retirees and a seven-member Official Committee of Unsecured
Creditors of the Commonwealth.  The Retiree Committee tapped
Jenner & Block LLP and Bennazar, Garcia & Milian, C.S.P., as its
attorneys.   The Creditors Committee tapped Paul Hastings LLP and
O'Neill & Gilmore LLC as counsel.



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


TRINIDAD & TOBAGO: Murder Rate, Handouts Hurting Real Growth
------------------------------------------------------------
Trinidad Express reports that the Trinidad and Tobago economy will
improve in this half of 2017, spike in 2018, then begin to slide
again after 2020, a senior economics lecturer at The University of
the West Indies (The UWI) has projected.

Dr. Roger Hosein's medium term economic outlook, emailed to
Express Business, coincided with the International Monetary Fund's
(IMF's) Article IV consultation with Government and other
stakeholders, according to Trinidad Express.

The report notes that the Central Bank of T&T's latest monetary
policy announcement (MPA), which also gives a snapshot of the
economy, was also released and was consistent with Hosein's
forecast.

The Central Bank said: "Economic activity in Trinidad and Tobago
remained subdued in the first quarter of 2017. Energy sector
output has not yet begun to recover strongly, in particular oil
and natural gas production.  However, exploratory activity was up,
with higher rig days and depth drilled being reported, and this is
expected to boost energy sector going forward," the report relays.

The report notes that Mr. Hosein said BP's Juniper gas field,
which was on schedule to come on stream last month, would
undoubtedly boost production.

"However even with Juniper and other smaller projects in the
energy sector, total natural gas output would increase until 2020,
and thereafter, start to taper off again," Mr. Hosein added.


                            ***********


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, Julie Anne L. Toledo, Ivy B. Magdadaro, and Peter A.
Chapman, Editors.

Copyright 2017.  All rights reserved.  ISSN 1529-2746.

This material is copyrighted and any commercial use, resale or
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Information contained herein is obtained from sources believed to
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