/raid1/www/Hosts/bankrupt/TCRLA_Public/171124.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, November 24, 2017, Vol. 18, No. 233


                            Headlines



B A R B A D O S

BARBADOS: Reserves Down, Debt Up


B O L I V I A

REPSOL SA: Consortium to Invest $900MM in Natgas Block


B R A Z I L

CBC AMMO: S&P Cuts GS Corp. Ratings to 'B+', Outlook Stable
CYRELA BRAZIL: S&P Affirms 'BB'CCR, Outlook Remains Negative
TAKATA CORP: Exclusive Plan Filing Period Moved to January 21
TAKATA CORP: Seals $1.59 Billion Sale of Global Assets to KSS


D O M I N I C A N   R E P U B L I C

DOMINICAN REPUBLIC: Power Firms Will Invest if Govt. Respects Law


J A M A I C A

JAMAICA: Three Tax Related Bills Withdrawn From Parliament
JAMAICA: To Improve its Public Services With IDB Loan
JAMAICA: Positioning to Tap Into Billion-Dollar Minerals Industry


P U E R T O    R I C O

COLONIAL MEDICAL: Case Summary & 20 Largest Unsecured Creditors


                            - - - - -


===============
B A R B A D O S
===============


BARBADOS: Reserves Down, Debt Up
--------------------------------
Trinidad Express reports that the foreign reserves of Barbados
have continued to fall, according to an IMF team, which concluded
an Article IV consultation visit to Barbados.

At the end of September, the island's net international reserves
stood at US$225 million, or just over two months of import cover,
according to Trinidad Express.

In a press release at the conclusion of the staff visit, team
leader Judith Gold said Barbados's net international reserves
"continue to decline as government debt service exceeds new
funding, and private foreign inflows remain weak," the report
notes.

As reported by the Troubled Company Reporter-Latin America,
S&P Global Ratings lowered on Sept. 27, 2017, its long-term local
currency sovereign credit rating on Barbados to 'CCC' from 'CCC+'.
S&P also affirmed its long-term foreign currency sovereign rating
at 'CCC+. The outlook on both long-term ratings is negative. S&P
also affirmed the short-term ratings at 'C'. The transfer and
convertibility assessment for Barbados remains 'CCC+'.


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


REPSOL SA: Consortium to Invest $900MM in Natgas Block
------------------------------------------------------
EFE News reports that a five-company consortium led by Spain's
Repsol plans to invest $900 million to explore and develop a new
natural gas block in southern Bolivia known as Iniguazu.

The president of Bolivian energy company YPFB, Oscar Barriga,
signed the investment commitment with representatives of the
consortium, which also includes Royal Dutch Shell, Argentina's Pan
American Energy (PAE) and two YPFB units, according to EFE News.

As reported in the Troubled Company Reporter-Europe on May 3,
2016, Egan-Jones Ratings Agency downgraded the local currency and
foreign currency senior unsecured ratings on debt issued by
Repsol SA to B+ from BB- on April 29, 2016.



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


CBC AMMO: S&P Cuts GS Corp. Ratings to 'B+', Outlook Stable
-----------------------------------------------------------
S&P Global Ratings lowered its global scale corporate ratings on
CBC Ammo LLC (CBC) to 'B+' from 'BB-'. At the same time S&P has
lowered the issue level ratings on the senior unsecured notes
issued by CBC FinCo Ltd., a financial subsidiary of CBC, to 'B+'
from 'BB-'. The outlook on the corporate rating is stable.

The issue-level rating is at the same level of CBC's corporate
rating, which reflects both the holding company's full and
unconditional guarantee of the notes, and the recovery rating of
'3', with an expected meaningful recovery of 50% (rounded
estimate).

S&P said, "The downgrade reflects our view that the consolidated
group has shown weaker credit quality as a result of some
volatility in U.S. commercial ammunition demand. The weakness also
reflects the operating underperformance of CBC's subsidiary
Taurus, which is focused on handgun production, and which has
contributed with null EBITDA. The company's current standing is
further characterized by cash generation that was lower than we
previously expected, resulting in higher leverage, with debt to
EBITDA of 4.6x and funds from operations (FFO) to debt of 12% for
the last 12 months as of Sept. 30, 2017. It also showed weakened
liquidity, which we now view as less than adequate. The stable
outlook reflects our expectation that CBC's metrics will remain
weak over the next 12 months, despite expected improvements driven
by CBC's defense business, which will likely occur in 2018. We
believe liquidity pressures and operating underperformance remain
mostly concentrated in its subsidiary, Taurus, which has no
corporate guarantees from CBC Ammo. CBC Ammo has, further, no
cross-default or cross-acceleration provisions with Taurus in its
debt contracts. Nonetheless, potential improvements in its metrics
driven by CBC over the next 12 months are likely to be limited.We
anticipate debt to EBITDA to remain around 4.7x in 2017 and below
4.0x in 2018, while FFO to debt will be in the 11%-15% range over
the next 18 months."


CYRELA BRAZIL: S&P Affirms 'BB'CCR, Outlook Remains Negative
------------------------------------------------------------
S&P Global Ratings affirmed its long-term 'BB' global scale
corporate credit and 'brAA-' national scale corporate credit and
issue-level ratings on Cyrela Brazil Realty S.A. Empreendimentos e
Participacoes (Cyrela). The outlook remains negative, reflecting
that of the sovereign.

S&P said, "The ratings affirmation reflects our view that Cyrela
will continue to report increasing cash flow generation over the
next few quarters as the housing industry gradually recovers from
weak demand due to Brazil's economic crisis. We expect improving
consumer confidence and more active lending from banks to foster
sales and reduce cancellations."


TAKATA CORP: Exclusive Plan Filing Period Moved to January 21
-------------------------------------------------------------
The Hon. Brendan L. Shannon of the U.S. Bankruptcy Court for the
District of Delaware, at the behest of TK Holdings Inc. and its
affiliated debtors, has extended the exclusive periods during
which the Debtors have the exclusive right to file a chapter 11
plan and solicit acceptance of its plan, through January 21 and
February 27, 2018, respectively.

The Troubled Company Reporter has previously reported that the
Debtors sought for exclusivity extension asserting that Takata's
insolvency requires the coordination of multiple insolvency
proceedings across a number of jurisdictions. In addition to the
Chapter 11 Cases, Takata Corporation, the Debtors' ultimate
corporate parent, together with Takata Kyushi K.K. and Takata
Service Corporation (the "Japanese Debtors"), commenced civil
rehabilitation proceedings under the Civil Rehabilitation Act of
Japan in the 20th Department of the Civil Division of the Tokyo
District Court on the Petition Date.

The Japanese Debtors have sought recognition of the Japan
Proceedings with the Court under chapter 15 of the Bankruptcy
Code.

In addition, both the Debtors and the Japanese Debtors have also
commenced ancillary proceedings under the Companies' Creditors
Arrangement Act (Canada), in the Ontario Superior Court of Justice
(Commercial List) in Ontario, Canada. These international
proceedings require coordination and communication to ensure a
successful outcome of the Debtors' Chapter 11 Cases.

If the size and geographic reach of the Debtors were not
complicated enough, as the Court is aware, the Debtors are in the
midst of the largest recall in U.S. automotive history relating to
certain airbag inflators containing phase-stabilized ammonium
nitrate ("PSAN Inflators") manufactured by Takata that have
ruptured during deployment.

As of the Petition Date, over 60 million PSAN Inflators in the
U.S., and more than 64 million PSAN Inflators outside of the U.S.,
have been or will be subject to recalls based on announced
schedules. By December 31, 2019, all vehicles in the U.S.
containing non-desiccated PSAN Inflators will be subject to
NHTSA's recalls.

In addition to managing their ongoing day-to-day operations,
manufacturing sufficient replacement kits to ensure compliance
with their ongoing NHTSA obligations, and ensuring the safety of
end-users of those Takata airbags containing PSAN Inflators, since
the Petition Date, the Debtors have been diligently working and
negotiating with Key Safety Systems, Inc. ("Plan Sponsor") and a
group of fourteen of Takata's original equipment manufacturer
customers ("Consenting OEMs").

The Debtors said that they were already on the verge of executing
transaction documents with the Plan Sponsor for the sale of
substantially all of Takata's worldwide assets. The Debtors, the
Plan Sponsor, and the Consenting OEMs have agreed in principle to
this sale of the Debtors' assets to the Plan Sponsor, which, with
respect to the Debtors, will be consummated pursuant to a Chapter
11 Plan and an asset purchase agreement ("U.S. Acquisition
Agreement"), which the Debtors expect to be filed with the Court
shortly.

The Debtors told the Court that the Plan Sponsor has agreed to an
aggregate purchase price of $1.588 billion for all of Takata's
assets. Additionally, the Debtors have worked to finalize, in
support of the Plan, a restructuring support agreement among the
parties, which they anticipate filing with the Court with the Plan
and the U.S. Acquisition Agreement. The Plan and RSA, as well as
the sale through the U.S. Acquisition Agreement, will have the
support of the Consenting OEMs, which are the Debtors' largest
creditor group.

In addition to the U.S. Acquisition Agreement, which governs the
sale to the Plan Sponsor by the Debtors, certain Takata entities
and the Plan Sponsor have entered into additional acquisition
agreements for the sale of assets in Europe, Japan, and other
regions. As the Court is aware, a sale of substantially all of the
Debtors' assets must be completed by no later than February 28,
2018 in order to satisfy the payment of the remaining $850 million
restitution payment that TKJP is obligated to pay pursuant to the
Plea Agreement entered into by TKJP, the Department of Justice,
Criminal Division, Fraud Section, and the U.S. Attorney's Office
for the Eastern District of Michigan in connection with the
criminal investigation of Takata.

Accordingly, the Debtors claimed that the requested extension
fulfills the crucial purpose of providing the Debtors with an
opportunity to finalize the Global Transaction Documents,
including the Plan. The filing of the Plan is not merely possible,
but high likely, because the Debtors, the Consenting OEMs, and the
Plan Sponsor have finalized several critical Global Transaction
Documents that support the Plan. The Global Accommodation
Agreement and the RSA signify the Consenting OEMs' support and
willingness to compromise in furtherance of a executing the Global
Transaction.

With these agreements, the Debtors can diligently seek approval to
solicit acceptances and secure confirmation after filing the Plan.

                     About Takata Corp

Japan-based Takata Corporation (TYO:7312) --
http://www.takata.com/en/-- develops, manufactures and sells
safety products for automobiles.  The Company offers seatbelts,
airbags, steering wheels, child seats and trim parts.

Headquartered in Tokyo, Japan, Takata operates 56 plants in 20
countries with approximately 46,000 global employees worldwide.
The Company has subsidiaries located in Japan, the United States,
Brazil, Germany, Thailand, Philippines, Romania, Singapore, Korea,
China and other countries.

Takata Corp. filed for bankruptcy protection in Tokyo and the
U.S., amid recall costs and lawsuits over its defective airbags.
Takata and its Japanese subsidiaries commenced proceedings under
the Civil Rehabilitation Act in Japan in the Tokyo District Court
on June 25, 2017.

Takata's main U.S. subsidiary TK Holdings Inc. and 11 of its U.S.
and Mexican affiliates each filed voluntary petitions under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case
No.17-11375) on June 25, 2017.  Together with the bankruptcy
filings, Takata announced it has reached a deal to sell all its
global assets and operations to Key Safety Systems (KSS) for
US$1.588 billion.

Nagashima Ohno & Tsunematsu is Takata's counsel in the Japanese
proceedings. Weil, Gotshal & Manges LLP and Richards, Layton &
Finger, P.A., are serving as counsel in the U.S. cases.
PricewaterhouseCoopers is serving as financial advisor, and Lazard
is serving as investment banker to Takata.  Ernst & Young LLP is
tax advisor.  Prime Clerk is the claims and noticing agent.

Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal
counsel, KPMG is serving as financial advisor, Jefferies LLC is
acting as lead financial advisor.  UBS Investment Bank also
provides financial advice to KSS.

On June 28, 2017, TK Holdings, as the foreign representative of
the Chapter 11 Debtors, obtained an order of the Ontario Superior
Court of Justice (Commercial List) granting, among other things, a
stay of proceedings against the Chapter 11 Debtors pursuant to
Part IV of the Companies' Creditors Arrangement Act.  The Canadian
Court appointed FTI Consulting Canada Inc. as information officer.
TK Holdings, as the foreign representative, is represented by
McCarthy Tetrault LLP.

The U.S. Trustee has appointed an Official Committee of Unsecured
Trade Creditors and a separate Official Committee of Tort
Claimants.

The Official Committee of Unsecured Creditors has selected
Christopher M. Samis, Esq., L. Katherine Good, Esq., and Kevin F.
Shaw, Esq., at Whiteford, Taylor & Preston LLC, in Wilmington,
Delaware; Dennis F. Dunne, Esq., Abhilash M. Raval, Esq., and
Tyson
Lomazow, Esq., at Milbank Tweed Hadley & McCloy LLP, in New York;
and Andrew M. Leblanc, Esq., at Milbank, Tweed, Hadley & McCloy
LLP, in Washington, D.C., as its bankruptcy counsel.  The
Committee has also tapped Chuo Sogo Law Office PC as Japan
counsel.

The Official Committee of Tort Claimants selected Pachulski Stang
Ziehl & Jones LLP as counsel.  Gilbert LLP will evaluate of the
insurance policies.  Sakura Kyodo Law Offices will serve as
special counsel.

Roger Frankel, the legal representative for future personal injury
claimants of TK Holdings Inc., et al., tapped Frankel Wyron LLP
and Ashby & Geddes PA to serve as co-counsel.

Takata Corporation ("TKJP") and affiliates Takata Kyushu
Corporation and Takata Services Corporation commenced Chapter 15
cases (Bankr. D. Del. Case Nos. 17-11713 to 17-11715) on Aug. 9,
2017, to seek U.S. recognition of the civil rehabilitation
proceedings in Japan.  The Hon. Brendan Linehan Shannon oversees
the Chapter 15 cases.  Young, Conaway, Stargatt & Taylor, LLP,
serves as Takata's counsel in the Chapter 15 cases.


TAKATA CORP: Seals $1.59 Billion Sale of Global Assets to KSS
-------------------------------------------------------------
Key Safety Systems, a global leader in mobility safety
headquartered in Sterling Heights, Michigan, USA, and Takata
Corporation ("Takata"), a leading global supplier of automotive
safety systems such as seat belts, airbags and child seats, based
in Tokyo, Japan, on Nov. 21, 2017, disclosed that they have signed
a definitive agreement under which KSS will acquire substantially
all of Takata's global assets and operations for an aggregate
purchase price of $1.588 Billion (approximately JPY175 billion)*.

The definitive purchase agreement announced on Nov. 21 is
consistent with the memorandum of understanding announced by KSS
and Takata on June 26, 2017.  Specifically, under the agreement,
KSS will acquire substantially all of Takata's assets, except for
certain assets and operations related to Takata's manufacturing
and sale of phase-stabilized ammonium nitrate (PSAN) airbag
inflators.

Takata's PSAN-related operations will be run by reorganized Takata
following the transaction closing and eventually will be wound
down.

The transaction will position KSS to become a global leader in the
automotive safety business with pro forma combined sales of
approximately $7 Billion (JPY771 billion)* and roughly 60,000
employees in 23 countries.  KSS plans to continue to support and
utilize Takata's presence in Japan, and looks forward to working
with all the Takata employees and manufacturing facilities in
Japan and around the world.

Yuxin Tang, President of KSS, said: "The acquisition of Takata
fits perfectly with KSS's century-long commitment to the
automotive business.  The combined company will enhance our
ability to serve customers globally and provide superior products
and innovation in the rapidly evolving auto safety industry.  We
enter this transaction in a spirit of partnership and anticipate
executives and employees from both KSS and Takata together will
play important roles -- from initial integration through strategic
execution.  We look forward to completing the transaction and
advancing the next phase of growth for the new combined company."

Shigehisa Takada, Chairman & CEO of Takata, said: "We are very
pleased to have reached this agreement with KSS, which is an
important step toward the consummation of our sale and achieving
the objectives we identified at the outset of this process.  Our
top priorities continue to be providing a steady supply of
products to our valued customers, including replacement parts for
recalls, and a stable home for our exceptional employees.  We
believe that the combined business will be well positioned for
long-term success in the global automotive industry."

KSS will finance the deal using a combination of debt and equity.

The closing of this transaction, which is expected in the first
quarter of 2018, is subject to certain conditions, including
bankruptcy court approval in both Japan and the United States,
consenting OEM agreements and customer documentation, receipt of
regulatory approvals and other customary closing conditions.

Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal
counsel, KPMG is serving as financial advisor, and Jefferies LLC
is
acting as lead financial advisor to KSS.

The Skadden team was led by Corporate Restructuring partner Ron
Meisler (Chicago) and M&A partner Steven Daniels (Wilmington).
The
team also included M&A partner Matthias Horbach (Frankfurt),
Corporate Restructuring partner Felicia Gerber Perlman (Chicago),
Banking partners Seth Jacobson (Chicago) and Clive Wells (London),
Tax partner Stuart Finkelstein (New York), Litigation partners
Albert Hogan III (Chicago) and Amy Van Gelder (Chicago), and
Antitrust and Competition partners John Lyons (Washington, D.C.)
and Ingrid Vandenborre (Brussels).

Nagashima Ohno & Tsunematsu and Weil, Gotshal & Manges LLP are
serving as legal counsel to Takata.  PricewaterhouseCoopers is
serving as financial advisor, and Lazard is serving as investment
banker to Takata.

*Exchange rate of US$1.00 = JPJPY110.2 used throughout

                    About Key Safety Systems

Japan-based Takata Corporation (TYO:7312) --
http://www.takata.com/en/-- develops, manufactures and sells
safety products for automobiles.  The Company offers seatbelts,
airbags, steering wheels, child seats and trim parts.

Headquartered in Tokyo, Japan, Takata operates 56 plants in 20
countries with approximately 46,000 global employees worldwide.
The Company has subsidiaries located in Japan, the United States,
Brazil, Germany, Thailand, Philippines, Romania, Singapore, Korea,
China and other countries.

Takata Corp. filed for bankruptcy protection in Tokyo and the
U.S., amid recall costs and lawsuits over its defective airbags.
Takata and its Japanese subsidiaries commenced proceedings under
the Civil Rehabilitation Act in Japan in the Tokyo District Court
on June 25, 2017.

Takata's main U.S. subsidiary TK Holdings Inc. and 11 of its U.S.
and Mexican affiliates each filed voluntary petitions under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case
No. 17-11375) on June 25, 2017.  Together with the bankruptcy
filings, Takata announced it has reached a deal to sell all its
global assets and operations to Key Safety Systems (KSS) for
US$1.588 billion.

Nagashima Ohno & Tsunematsu is Takata's counsel in the Japanese
proceedings.  Weil, Gotshal & Manges LLP and Richards, Layton &
Finger, P.A., are serving as counsel in the U.S. cases.
PricewaterhouseCoopers is serving as financial advisor, and Lazard
is serving as investment banker to Takata.  Ernst & Young LLP is
tax advisor.  Prime Clerk is the claims and noticing agent.

Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal
counsel, KPMG is serving as financial advisor, Jefferies LLC is
acting as lead financial advisor.  UBS Investment Bank also
provides financial advice to KSS.

On June 28, 2017, TK Holdings, as the foreign representative of
the Chapter 11 Debtors, obtained an order of the Ontario Superior
Court of Justice (Commercial List) granting, among other things, a
stay of proceedings against the Chapter 11 Debtors pursuant to
Part IV of the Companies' Creditors Arrangement Act.  The Canadian
Court appointed FTI Consulting Canada Inc. as information officer.
TK Holdings, as the foreign representative, is represented by
McCarthy Tetrault LLP.

The U.S. Trustee has appointed an Official Committee of Unsecured
Trade Creditors and a separate Official Committee of Tort
Claimants.

The Official Committee of Unsecured Creditors has selected
Christopher M. Samis, Esq., L. Katherine Good, Esq., and Kevin F.
Shaw, Esq., at Whiteford, Taylor & Preston LLC, in Wilmington,
Delaware; Dennis F. Dunne, Esq., Abhilash M. Raval, Esq., and
Tyson Lomazow, Esq., at Milbank Tweed Hadley & McCloy LLP, in New
York; and Andrew M. Leblanc, Esq., at Milbank, Tweed, Hadley &
McCloy LLP, in Washington, D.C., as its bankruptcy counsel.  The
Committee has also tapped Chuo Sogo Law Office PC as Japan
counsel.

The Official Committee of Tort Claimants selected Pachulski Stang
Ziehl & Jones LLP as counsel.  Gilbert LLP will evaluate of the
insurance policies.  Sakura Kyodo Law Offices will serve as
special counsel.

Roger Frankel, the legal representative for future personal injury
claimants of TK Holdings Inc., et al., tapped Frankel Wyron LLP
and Ashby & Geddes PA to serve as co-counsel.

Takata Corporation ("TKJP") and affiliates Takata Kyushu
Corporation and Takata Services Corporation commenced Chapter 15
cases (Bankr. D. Del. Case Nos. 17-11713 to 17-11715) on Aug. 9,
2017, to seek U.S. recognition of the civil rehabilitation
proceedings in Japan.  The Hon. Brendan Linehan Shannon oversees
the Chapter 15 cases.  Young, Conaway, Stargatt & Taylor, LLP,
serves as Takata's counsel in the Chapter 15 cases.


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


DOMINICAN REPUBLIC: Power Firms Will Invest if Govt. Respects Law
-----------------------------------------------------------------
Dominican Today reports that the executive vice-president of
Dominican Republic's power companies grouped in ADIE reaffirmed
its commitment to continue at the forefront in technological
innovation of the private electricity sector, making the necessary
investments to continue its development of an efficient supply of
energy for the economy.

During the breakfast hosted by the American Chamber of Commerce
"Expansion and sustainability of the national electricity sector;
realities and challenges," Manuel Cabral stressed that the private
sector has invested in 2.9 megawatts of new power and repowering,
as well as in the production of clean energy, becoming a pioneer
in the country of non-conventional renewables, according to
Dominican Today.

"The private electricity industry has managed to vary the sources
of generation in such a way that we have the most diversified
matrix in Central America and the Caribbean, and we are one of the
few countries that generates with natural gas," the report quoted
Mr. Cabral as saying.

The business leader said to continue with the investments that
guarantees sustainable development on electricity generation,
clear rules are needed to promote equal conditions for all market
players and strict compliance with the General Electricity Law,
the report notes.

The ADIE executive acknowledged the government's efforts to make
short-term tenders and stressed the need for long-term energy
procurement, as established by Law, the report relays.  "This
guarantees stability in prices and encourages investment in the
sector," he added.

As reported in the Troubled Company Reporter-Latin America on
Nov. 20, 2017, Fitch Ratings has affirmed Dominican Republic's
Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BB-'
with a Stable Outlook.



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


JAMAICA: Three Tax Related Bills Withdrawn From Parliament
----------------------------------------------------------
RJR News reports that Jamaica Finance Minister Audley Shaw has
withdrawn three tax related bills which were before the House of
Representatives.

During the sitting of the House, Mr. Shaw withdrew the bills to
amend the Tax Collection Act, Property Tax Act and the Land
Valuation Act, explaining that they had been tabled without
adequate scrutiny, according to RJR News.

Mr. Shaw explained that the bills had been tabled during the time
of the previous government led by the People's National Party (now
in opposition) and were re-tabled after the change of
administration, but according to him, this was done "without
adequate scrutiny," the report notes.

Upon closure scrutiny, subsequent to that re-tabling, he said, it
had come to his attention that there were some troubling
provisions, "including the seizure of property within three
years," the report relays.

The seizure of property was not a policy that this government was
in agreement with, he declared, the report notes.

"We must put in adequate measures, adequate redress, adequate
opportunity for the tax paying public to be able to have
opportunities to have correction of whatever problems they have,"
he declared, the report says.

Accordingly, he said, the bills had been withdrawn to be replaced
with appropriately worded substitute bills, the report adds.

As reported in the Troubled Company Reporter-Latin America,
S&P Global Ratings affirmed on Sept. 25, 2017, its 'B' long- and
short-term foreign and local currency sovereign credit ratings on
Jamaica. The outlook on the long-term rating remains stable. At
the same time, S&P Global Ratings affirmed its 'B+' transfer and
convertibility assessment on the country.


JAMAICA: To Improve its Public Services With IDB Loan
-----------------------------------------------------
Caribbean360.com reports that Jamaica is taking steps to improve
the quality and efficiency of transactional public services with a
US$160 million loan program approved by the Inter-American
Development Bank (IDB).  The program consists of a US$110 million
policy-based loan and a US$50 million investment loan, according
to Caribbean360.com.

In support of the Jamaican Government's Public Sector
Transformation (PST) Program, the loan package is expected to
result in an improvement in service delivery in prioritized
ministries, departments and agencies as evidenced by a reduction
in waiting times and transaction costs as well as a better
adaptation of the public sector workforce to citizen needs, the
IDB said, the report notes.

It is also expected that the efficiency measures supported by the
program will create space for growth enhancing capital spending in
the country, the report relays.

"The policy measures and the activities under the PST Program,
especially in the implementation of online services, support
innovation and are critical to the development of Jamaica's
digital government-related activities," the Bank noted, the report
discloses.

In terms of its competitive performance, Jamaica is ranked at 70
out of 137 economies in the World Economic Forum's 2017-2018
Global Competitiveness Index, with inefficient government
bureaucracy ranked as the most problematic factor for doing
business in the Caribbean country, the report discloses.

"This loan program is an important next step for Jamaica as the
Government focuses on accelerating economic growth while
strengthening fiscal policy," said Therese Turner-Jones, General
Manager for the IDB's Caribbean Country Department, the report
says.

"A more efficient public sector will reduce red tape, facilitate
investment, economic growth, and job creation.  The IDB is very
happy to support the government in the transformation of the
public sector, which will ultimately serve to improve lives by
creating vibrant sustainable economies where people are safe,
productive, and happy," Mr. Turner-Jones added.

The loan package builds on the IDB's experience in numerous
projects and related analytical work to improve public service
delivery, public sector efficiency, human resources management in
the public sector, and the improvement of the fiscal
sustainability of pensions systems, the report relays.

As reported in the Troubled Company Reporter-Latin America,
S&P Global Ratings affirmed on Sept. 25, 2017, its 'B' long- and
short-term foreign and local currency sovereign credit ratings on
Jamaica. The outlook on the long-term rating remains stable. At
the same time, S&P Global Ratings affirmed its 'B+' transfer and
convertibility assessment on the country.


JAMAICA: Positioning to Tap Into Billion-Dollar Minerals Industry
-----------------------------------------------------------------
Caribbean360.com reports that Jamaica wants to tap into potential
opportunities from the billion-dollar global minerals industry.
And the government will be using a National Minerals Policy (NMP)
to position itself to do just that.

"The sector has a current value of just over US$1 billion, and
under the new minerals policy, every effort will be made to
integrate it into the wider society, so that the ripple effect
will trickle down to the community level," Minister of Transport
and Mining Michael Henry said at the National Minerals Week
Investment Forum, according to Caribbean360.com.

Mr. Henry said Cabinet is to receive a submission shortly on the
first draft of the NMP, which provides for the management and
development of Jamaica's mineral resources, the report notes.

The report discloses that it places emphasis on partnership
between the public and the private sectors and outlines the
possible benefits of the structured development of the minerals
sector to the Jamaican people, as well as the mix of policy
measures, objectives and strategies to be pursued in order to
realize the sector's continued transformation and optimal
development.

Minister Henry said the time had come for players in the sector to
organize their operations to maximize returns and go for the
growth that beckons, the report relays.

Minister Henry argued that there was no way to improve the sector
"without taking steps to diversify it and take advantage of the
value-added components that have seemingly eluded us over the
years," the report discloses.

Minister Henry also said assured that efforts would be redoubled
to ensure the sustainability of the sector, adding that more
emphasis would be placed on the environment and the people, the
report relays.

As such, he said, operations will be more stringently policed and
operators will have to adhere to the regulations that govern the
sector, the report notes.

Also, Prime Minister Andrew Holness disclosed in Parliament that
the Mining Act and any existing mining licenses would be amended
to prevent mining in an area to be designated a protected area --
include existing forest reserves, significant hydrological and
ecological features and cultural and heritage sites -- in Cockpit
Country, the report relays.

Cockpit Country, which covers approximately 74,726 hectares,
provides 51 per cent of the island's closed broad leaf forest
cover, is the source of 40 per cent of western Jamaica's water
resources, and is home to the island's Accompong Maroons, the
report says.  Its boundaries run through parts of the parishes of
Manchester, St Elizabeth, St James, Trelawny and St Ann, the
report notes.

"The Government is of the view that this area is too valuable, in
terms of its ecological and hydrological importance and
uniqueness, to allow mining, which may result in permanent and
irreversible harm and deprive future generations of the benefit of
this national asset," he said, the report discloses.

The report notes that Mr. Holness noted that while the country
forgoes the exploitation of millions of tonnes of high-grade
bauxite and limestone with potential earnings of billions of
dollars, "we cannot put a price tag on the loss to our water
resources and biodiversity".

Meantime, Minister Henry also mentioned plans for the
establishment of a National Minerals Institute for the training
and development of human resources for the sector, the report
relays.

"I am aiming to see the development of a training program for
young people in the industry," he said, noting that the minerals
school will provide an opportunity to "hone new skills and improve
on what we have," he added.

"As we move forward, I have given instructions for this to be
fast-tracked," he said, the report relays.

The Transport and Mining said the National Minerals Institute will
have support from the Minerals Development Council and the
National Mineral-Bearing Lands Management Committee, the report
notes.

"I want to see a modernization of the framework for sustainable
mineral use.  I want to see improved competitiveness, improved
efficiency of operations, and, most importantly, improved
occupational health among the workforce as we expose them to
developing and new technologies," he pointed out, the report adds.

As reported in the Troubled Company Reporter-Latin America,
S&P Global Ratings affirmed on Sept. 25, 2017, its 'B' long- and
short-term foreign and local currency sovereign credit ratings on
Jamaica. The outlook on the long-term rating remains stable. At
the same time, S&P Global Ratings affirmed its 'B+' transfer and
convertibility assessment on the country.


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


COLONIAL MEDICAL: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Colonial Medical Management Corp
        PO Box 1716
        Anasco, PR 00610

Business Description: Colonial Medical Management Corp is an
                      ambulatory health care clinic located in
                      Anasco, Puerto Rico.  Colonial Medical
                      Management Corp's practice location is
                      listed as Carretera 402 Km 1.8 Bo. Marias
                      Anasco, PR 00610.  The company previously
                      sought bankruptcy protection on March 13,
                      2014 (Bankr. D. P.R. Case No. 14-01922).

Chapter 11 Petition Date: November 21, 2017

Case No.: 17-06925

Court: United States Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Judge: Hon. Brian K. Tester

Debtor's Counsel: Ada M Conde, Esq.
                  1611 LAW AND JUSTICE FOR ALL, INC.
                  PO Box 11674
                  San Juan, PR 00910
                  Tel: 787-721-0401
                  Email: 1611lawandjustice@gmail.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Luis Jorge Lugo Velez, president.

A full-text copy of the petition containing, among other items,
a list of the Debtor's 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/prb17-06925.pdf


                            ***********


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
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 Joseph Cardillo at
856-381-8268.


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