TCRLA_Public/180810.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 10, 2018, Vol. 19, No. 158


                            Headlines



B A R B A D O S

BARBADOS: S&P Lowers Ratings on Global Bonds Due 2019/2022 to 'D'


D O M I N I C A N   R E P U B L I C

DOMINICAN REPUBLIC: Power Generated From Oil Drops From 88% to 33%


J A M A I C A

* JAMAICA: Not Enough Local Companies to Print Labels


M E X I C O

VINTE VIVIENDAS: S&P Assigns 'BB' ICR, Outlook Stable


P A R A G U A Y

PARAGUAY: Fund to Aid Small Businesses
* PARAGUAY: Statement by IMF Director on Meeting with President


P U E R T O    R I C O

NATIONAL STORES: Hilco to Conduct GOB Sales for 74 Stores
PUERTO RICO: Deal Reached Over Sales Tax Bonds


S T.  L U C I A

* ST. LUCIA: Climate Change Could Have Devastating Consequences


V E N E Z U E L A

VENEZUELA: Gov't. Briefs US Diplomat on Nicolas Maduro Attack
VENEZUELA: Former Parliament Speaker Charged for Attack on Maduro


                            - - - - -


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


BARBADOS: S&P Lowers Ratings on Global Bonds Due 2019/2022 to 'D'
----------------------------------------------------------------
On Aug. 7, 2018, S&P Global Ratings lowered its issue-level
ratings on Barbados' global bonds due 2019 and 2022 to 'D'
(default) from 'CC'. At the same time, S&P Global Ratings lowered
its long- and short-term local currency sovereign issuer credit
ratings to 'SD' from 'CC' and 'C', respectively. S&P Global
Ratings also affirmed its 'SD/SD' (selective default) long- and
short-term foreign currency sovereign credit ratings on the
country, and its 'D' (default) ratings on the country's 6.625%
notes due 2035 and 7.25% notes due 2021. As well, S&P Global
Ratings affirmed its 'CC' local currency issue-level ratings on
debt for which Barbados remains current. Finally, S&P Global
Ratings affirmed its 'CC' transfer and convertibility assessment
on the country.

RATIONALE

On Aug. 4 and Aug. 6, 2018, Barbados missed coupon payments on its
global bonds due 2022 and 2019, and S&P does not expect the
government to make them. In accordance with S&P's criteria,
"Methodology: Timeliness Of Payments: Grace Periods, Guarantees,
And Use Of 'D' And 'SD' Ratings," S&P has lowered the issue-level
ratings to 'D' from 'CC' on these two bonds.

Overdue global coupons now include the following four issues:

-- US$190 million, 6.625% bonds due Dec. 5, 2035
-- US$150 million, 7.25% bonds due Dec. 15, 2021
-- US$200 million, 7% bonds due Aug. 4, 2022
-- US$40 million, 7.8% bonds due Aug. 6, 2019

S&P said, "Our 'SD' sovereign long- and short-term local currency
ratings reflect the government's "automatic" principal payment
rollover of its its short-term local currency treasury bills,
which we consider paramount to default in accordance with our
criteria, "Methodology: Timeliness Of Payments: Grace Periods,
Guarantees, And Use Of 'D' And 'SD' Ratings," and "S&P Global
Ratings Definitions." We do not expect the government to make
these payments in the near term. We have no local currency short-
term issue-level ratings outstanding. Our 'CC' long-term local
currency issue-level ratings reflect our view that these issues
are highly vulnerable to nonpayment and a default on these issues
is a virtual certainty.

"We expect Barbados' new government to continue its close dialogue
with the International Monetary Fund (IMF) regarding plans that
could underpin IMF financial support through a Staff-Level
Agreement. The IMF most recently visited the country from July 2-
12 following an earlier visit June 5-7. These follow the
announcement on June 1 from newly elected Prime Minister Mia
Mottley, of the Barbados Labour Party (BLP), that the government
would suspend payments on its debt owed to external commercial
creditors and ask domestic creditors to roll over principal
maturities until the government reached an agreement with its
creditors. The announcement came one week after the BLP won an
absolute majority in the country's general election. Negotiations
with both the IMF and creditors are ongoing.

"Amid high current account deficits and limited external inflows,
external liquidity weakened in early 2018, although it has since
improved slightly due to lower external debt service. Reserves
reached about US$222 million as of June 30, 2018. Usable reserves,
which we analyze in assessing international liquidity, are even
lower. We subtract the monetary base from international reserves
because reserve coverage of the monetary base is critical to
maintaining confidence in the exchange-rate regime."

While the new administration on June 11 introduced a series of
revised 2018-2019 budget measures as part of its economic
adjustment plan, which targets a primary surplus of 6% of GDP,
these targets are subject to change in light of the ongoing
negotiations and because of the finalized detailed package of
fiscal measures. The government will need to agree upon additional
measures to meet strict fiscal targets. Throughout this process,
the government plans to continue its talks with the Social
Partnership, a group that the new government has revived, in part
to build support for fiscal discipline across sectors.

In accordance with S&P's relevant policies and procedures, the
Rating Committee was composed of analysts that are qualified to
vote in the committee, with sufficient experience to convey the
appropriate level of knowledge and understanding of the
methodology applicable. At the onset of the committee, the chair
confirmed that the information provided to the Rating Committee by
the primary analyst had been distributed in a timely manner and
was sufficient for Committee members to make an informed decision.

After the primary analyst gave opening remarks and explained the
recommendation, the Committee discussed key rating factors and
critical issues in accordance with the relevant criteria.
Qualitative and quantitative risk factors were considered and
discussed, looking at track-record and forecasts.

The committee's assessment of the key rating factors is reflected
in the Ratings Score Snapshot above.

The chair ensured every voting member was given the opportunity to
articulate his/her opinion. The chair or designee reviewed the
draft report to ensure consistency with the Committee decision.
The views and the decision of the rating committee are summarized
in the above rationale and outlook. The weighting of all rating
factors is described in the methodology used in this rating
action.

RATINGS LIST
Downgraded
                                      To           From
Barbados
Sovereign credit rating
  Local currency                      SD/--/SD  CC/Watch Neg/C

Barbados
Senior unsecured                     D         CC/Watch Neg

Ratings Affirmed

Barbados
  Sovereign credit rating
  Foreign currency                    SD/--/SD

Transfer and convertibility assessment
  Local currency                      CC
  Senior unsecured                    D

Ratings Affirmed; CreditWatch Action
                                      To        From
Barbados
  Senior unsecured                    CC        CC/Watch Neg


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


DOMINICAN REPUBLIC: Power Generated From Oil Drops From 88% to 33%
------------------------------------------------------------------
https://dominicantoday.com/dr/economy/2018/08/07/progress-power-
generated-from-oil-drops-from-88-to-33/

Dominican Today reports that Dominican Republic has a diversified
electric power matrix, generated from wind, water, sun, biomass,
natural gas, coal and petroleum (fuel oil number 2 and number 6).
Since 2000, when generation depended on 88% of petroleum
derivatives, much progress has been made.

Now, only 33.55% of electricity generation is dependent on oil,
according to Dominican Today.

Dominican Republic's power companies (ADIE) in their Jan.-Dec.
2017 report lists for that year the share of each fuel or primary
source to generate electricity: a 34.68% with natural gas; 13.86%
coal; 33.55% by liquid fuels derived from oil (29.5% fuel number 6
and 4.1% number 2), the report relays.

Moreover, 0.31% was generated from the sun as the primary source;
0.90% with biomass, 2.47% was generated from wind and 14.24% from
hydroelectric, the report says.  "This indicates that the
generation of electricity in the country each year depends less on
petroleum products," the report notes.

It said dependency on oil could decrease because five new electric
power projects are set to start operating this year: Agua Clara
wind farm, of 50 MW, built at a cost of US$110.0 million;
Matafongo wind farm with 34 MW, at a cost of US$87.5 million, and
Montecristi Solar, of 58 MW built at a cost of US$100.0 million,
the report relays.

The ADIE also listed the Guanillo wind farm, of 50 MW at a cost of
US$100.0 million and Los Guzmancito wind farm (Poseidon) of 48.3
MW, at a cost of US$125.0 million, the report says.

"All these projects added will have an approximate investment of
US$522.5 million," the report relays.

                        Energy and Mines

"The generation matrix has been diversified towards clean and more
efficient energy, in an unprecedented way in the country.  The
generation base that does not depend on oil is 66.15% (if we take
into account natural gas, coal, water, wind and biomass).  At the
beginning of 2000, the generation matrix was 88% based on fossil
fuels," Diario Libre quoted the Energy and Mines Ministry as
saying in a statement, the report adds.

As reported in the Troubled Company Reporter-Latin America on
July 19, 2018, Fitch Ratings assigned a 'BB-' rating to
Dominican Republic's USD1.3 billion bonds, maturing July 2028. The
notes have a coupon of 6%.  Proceeds from the issuance will be
used for general purposes of the government, including the partial
financing of the 2018 budget.


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


* JAMAICA: Not Enough Local Companies to Print Labels
-----------------------------------------------------
RJR News reports that Jamaican manufacturers are complaining that
there are not enough local companies who can print their labels at
the quality and quantity they require.

Consequently, they are being forced to print their labels
overseas, which they claim is cheaper, according to RJR News.

"Label developments can be done locally as well as overseas, of
course we would have preferred it to be done locally.  But usually
for economies of scale, it's easier to do it overseas, because it
is local, cheaper, quicker and the quality is usually sometimes
better," said Vice president of  the Jamaica Manufacturers and
Exporters Association (JMEA) Stephen Dawkins, the report notes.

However, he said local printeries are usually the preferred
option, the report adds.

"The ideal situation is to have company's or manufacturers fully
integrated in where you have all lines of your production fully
integrated into the company.  This includes labels and so on. But
it is such a specialization, it is very difficult that very few
companies do this in Jamaica.  We have companies that do it, but
for larger companies they tend to go overseas for their labels,"
the report notes.

He admitted that he's not sure how much money is spent printing
labels overseas but added that in some instances manufacturers who
go overseas get more value for money, the report discloses.

"It's very difficult to say how much money . . . but we have to go
to markets where labels are more cost effective ," he said, the
report relays.

As reported in the Troubled Company Reporter-Latin America on
Feb. 5, 2018, Fitch Ratings affirmed Jamaica's Long-Term
Foreign-Currency Issuer Default Rating (IDR) at 'B' and has
revised the Rating Outlook to Positive from Stable.


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


VINTE VIVIENDAS: S&P Assigns 'BB' ICR, Outlook Stable
-----------------------------------------------------
S&P Global Ratings assigned its 'BB' issuer credit rating to Vinte
Viviendas Integrales, S.A.B. de C.V. (Vinte). The outlook is
stable.

S&P said, "Our rating on Vinte reflects our view of its flexible
business model that allows the company to mitigate impacts
stemming from the industry cycles. The rating also reflects the
company's solid growth trajectory, focus on profitability with
above-average and stable margins compared with those of rated
peers, and prudent financial policy towards the use of debt as
seen in net debt to EBITDA close to 2.0x for the 12 months ended
June 2018. A relatively small revenue base and limited geographic
diversification are rating constraints."

With 25 years of experience in the Mexican housing industry, Vinte
has proven its ability to adjust quickly its product offering to
the evolving market conditions, particularly during a cooling
economy, such as in 2017 during which GDP growth slowed, inflation
and interest rates rose, and to changes in the government's
housing policy. Vinte maintains a diversified product portfolio
covering the residential, middle- and low-income segments, which
respectively represented 31%, 56%, and 13% of total revenue in
2017. The company's home prices range from MXN350,000 to slightly
more than MXN3.5 million, and Vinte operates in six states in
Mexico. Vinte also maintains diversified financing solutions
schemes for its homebuyers and has historically limited its
exposure to government subsidies availability - which only
represented 4.4% of its homes sold during the first half of 2018.
S&P said, "In our view, Vinte's dynamic product offering would
allow the company to take advantage of potential growth
opportunities, amid our expectations that the housing subsidies
could increase once the new government takes office in December
2018. Moreover, although the Mexican housing industry remains
highly fragmented and competitive, we believe that the company is
well positioned to maintain its solid market share in terms of
units sold in each of the market where it operates."

S&P said, "Our rating also incorporates the company's above-
average and stable profitability compared with those of industry
peers in Mexico, with an EBITDA margin level that has been
consistently above 20%. The latter is possible thanks to Vinte's
differentiated product offering consisting of integrated and
sustainable communities that generate greater value added for
homebuyers over the long run, along with higher sales prices than
the industry average. Additionally, the company maintains an
efficient operation, strict cost controls, and 12-month contracts
with suppliers of cement and concrete, allowing Vinte greater
flexibility and predictability in its financial planning. The
company also maintains a prudent land procurement strategy, with a
land bank of about 5.9 years as of the end of 2017, with a focus
on markets with favorable housing demand dynamics, such as in the
states of Mexico, Queretaro, Hidalgo, Puebla, Quintana Roo, and
Nuevo Leon for instance."

The rating constraint on Vinte is its relatively small size with
MXN3.3 billion in revenue and 4,492 units sold for the 12 months
ended June 2018 and its operations limited to Mexico with the
central part of the country accounting for more than 50% of total
sales. Therefore, if Vinte's key markets experience an economic
downturn, its business would suffer, particularly given the
industry cyclicality in terms of consumer preferences, disposable
income, and mortgage availability, among others.

S&P said, "For the next 12 months, we believe the housing demand
trends in Mexico will remain favorable, particularly in light of
the country's housing deficit that's estimated at about 9 million
units and based on the demographic trend." In S&P's view, Vinte
will maintain double-digit revenue growth amid easy access to
financing from commercial banks and public mortgage lenders such
as Infonavit (global scale: BBB+/Stable/A-2; national scale:
mxAAA/Stable/mxA-1+) and Fovissste (national scale:
mxAAA/Stable/mxA-1+). Moreover, we expect Vinte to preserve its
current profitability with EBITDA margins above 20%. We also
expect Vinte to maintain a prudent strategy towards its lands
procurement and infrastructure works, and towards the use of
debt."


===============
P A R A G U A Y
===============


PARAGUAY: Fund to Aid Small Businesses
--------------------------------------
EFE News reports that small and medium-sized businesses that have
difficulties obtaining credit and funding may receive loans
starting next month from the Guaranty Fund, Paraguay's Ministry of
Industry and Commerce said.

The Fund will start off with an initial capital of more than $8
million and the ability to offer guaranties for up to five times
that amount, Deputy Minister Victor Bernal said during an event
marking the launch of the initiative, according to EFE News.

The report notes that Mr. Bernal said the Fund will not set the
interest rates, as they will depend on "the banks that will
operate the Fund," although he noted that these rates are
currently around 12 percent.

The Fund's manager, Carlos Gimenez, said that firms from any
sector of the economy could obtain loans, although these companies
must be registered with the tax agency, the report says.

The report relays that Mr. Gimenez explained the Guarantee Fund is
not a subsidy, adding that failure to pay back the loans on time
could lead to legal actions against debtors.

Paraguay defines small and medium-sized businesses as firms with
up to 50 employees and an annual turnover of up to PYG6 billion
($1 million), a category that includes nearly 90 percent of all
companies in the South American nation, the report adds.

As reported in the Troubled Company Reporter-Latin America on
June 28, 2018, S&P Global Ratings, on June 25, 2018, affirmed its
'BB/B' long-and short-term sovereign credit ratings on Paraguay.
The outlook remains stable. At the same time, S&P affirmed its
'BB+' transfer and convertibility assessment on Paraguay.


* PARAGUAY: Statement by IMF Director on Meeting with President
---------------------------------------------------------------
Christine Lagarde, Managing Director of the International Monetary
Fund (IMF), met with Mario Abdo Benitez, President-elect of
Paraguay in Washington. At the conclusion of the meeting, the
Managing Director made the following statement:

"It was a pleasure to welcome Mario Abdo Benitez, President-elect
of Paraguay, at the IMF headquarters and to congratulate him on
his election as President of Paraguay.

"The President-elect and I had a very productive meeting. We
discussed recent global and regional economic developments. We
also talked about Paraguay's strong economic performance, the
challenges going forward, and the opportunities for boosting
potential growth. President-elect Abdo Benitez and I agreed that
it is important to capitalize on the country's achievements,
including poverty reduction, by ensuring the continuity of sound
economic policies and reforms in the context of a more challenging
external environment. I reiterated the IMF's commitment to
continue supporting Paraguay and the incoming government to ensure
strong, sustainable and inclusive growth."

As reported in the Troubled Company Reporter-Latin America on
June 28, 2018, S&P Global Ratings, on June 25, 2018, affirmed its
'BB/B' long-and short-term sovereign credit ratings on Paraguay.
The outlook remains stable. At the same time, S&P affirmed its
'BB+' transfer and convertibility assessment on Paraguay.


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


NATIONAL STORES: Hilco to Conduct GOB Sales for 74 Stores
---------------------------------------------------------
National Stores, Inc., and its affiliated debtors have signed a
deal for Hilco Merchant Resources, LLC, to commence
going-out-of-business sales for 74 of the Debtors' stores.

The Debtors on Aug. 6, 2018, sought Chapter 11 protection and
immediately filed a motion to assume a Letter Agreement Governing
Inventory Disposition dated Aug. 5, 2018, by and between lead
debtor J & M Sales, Inc., and its affiliates on the one hand, and
Hilco, on the other.

National Stores at present operates 340 stores in 22 states and
Puerto Rico.

After attempts to develop going-concern restructuring options
proved unsuccessful, the Debtors determined, upon consultation
with their key constituents, that commencing going-out-of-business
sales for the 74 of the Debtors' stores through the sale of the
Debtors' merchandise at the closing stores and the commencement of
the Chapter 11 cases provided the best opportunity to maximize
value for the Debtors' estates, creditors and all interested
parties.

The Debtors say that the store closing sales must commence
immediately in order to, among other things, reduce the Debtors'
exposure to rent and related claims with respect to the leases of
the closing stores.

Prepetition, the Debtors and their advisors contacted three
nationally-recognized liquidators to solicit interest in bidding
on the right to conduct the store closing sales.  After multiple
discussions, the Debtors concluded that Hilco was only party with
the ability to effectuate the store closings process within the
time constraints.

The material terms of the Agreement are:

   * Sale Commencement and Termination:  The sale will commence on
or about August 9, 2018, and will conclude no later than Oct. 15,
2018.

  * Agent's Fees and Expenses.  The Agreement defines "Aggregate
Recovery Percentage" as the gross proceeds of all the sales of the
merchandise during the sale term divided by the aggregate cost
value of all the merchandise.  The Debtors will pay to Hilo an
incentive fee equal to one of the following:

     Aggregate Recovery Percentage   Incentive Fee
     -----------------------------   -------------
       Below 100%                    No Incentive Fee
       Between 100% and 110%         1% of Gross Proceeds
       Between 110% and 115%         1.25% of Gross Proceeds
       Between 115% and 120%         1.50% of Gross Proceeds

   * Additional Agent Goods.  Hilco will have the right to
supplement the merchandise with additional goods procured by Hilco
which are of like kind and no lesser quality to the merchandise at
the stores (the "Additional Agent Goods").  Proceeds from the
Additional Agent Goods will be used first to reimburse Hilco for
its cost of the Additional Agent Goods.  Thereafter, HIlco will
pay to the Debtors an amount equal to 50% of the remaining
proceeds from the sale of the Additional Agent Goods.

Pachulski, Stang, Ziehl & Jones, LLP, and Katten Muchin Rosenman
LLP are serving as legal counsel, SierraConstellation Partners,
LLC is serving as the Chief Restructuring Officer and support
staff, and Imperial Capital is serving as investment banker to the
Company.

                      About National Stores

National Stores is a 344-store chain in 22 U.S. states and Puerto
Rico.  National Stores currently does business as Fallas, Fallas
Paredes, Fallas Discount Stores, Factory 2-U, Anna's Linen's by
Fallas, and Falas (spelled with single "l" in Puerto Rico).
Fallas, which emplolys 9,800 people, is a discount retailer
offering value-priced merchandise, including apparel, bedding and
household supplies.  The brands of National Stores are located in
retail plazas, specialty centers, and downtown areas to serve the
communities its customers and staff members call home.

National Stores, Inc., and its affiliates sought Chapter 11
protection and Aug. 6, 2018, and announced that Hilco Merchant
Resources, LLC, is conducting going-out-of-business sales for 74
stores.  The lead case is In re J & M Sales Inc. (Bankr. D. Del.
Lead Case No. 18-11801).

J & M Sales estimated assets and debt of $100 million to $500
million as of the bankruptcy filing.

The Hon. Laurie Selber Silverstein is the case judge.

The Debtors tapped KATTEN MUCHIN ROSENMAN LLP as general
bankruptcy counsel, PACHULSKI STANG ZIEL & JONES LLP as bankruptcy
co-counsel, RETAIL CONSULTING SERVICES, INC., as real estate
advisor, IMPERIAL CAPITAL, LLC, as investment banker, and PRIME
CLERK LLC as the claims and noticing agent.  SIERRACONSTELLATION
PARTNERS, LLC, is providing personnel to serve as chief
restructuring officer and support staff.


PUERTO RICO: Deal Reached Over Sales Tax Bonds
----------------------------------------------
Karen Pierog at Reuters report that Puerto Rico has reached a deal
with bondholders and insurers of debt issued by its bankrupt sales
tax financing corporation, COFINA, the U.S. territory's governor
and federal oversight board said.

The agreement would reduce COFINA's sales-tax-backed debt by more
than 32 percent and result in about $17.5 billion in debt service
savings, officials said in statements, according to Reuters.

The report notes that the board, which was created under a federal
act known as PROMESA, said it expects the deal with senior and
junior bondholders and monoline insurance companies that guarantee
bond payments to lead to a consensual plan of adjustment for
COFINA.

Puerto Rico has been in bankruptcy court since May 2017 trying to
restructure about $120 billion of debt and pension obligations,
the report says.

"This agreement represents a significant step in restructuring
Puerto Rico's debt and reaffirms once again the credibility of our
efforts," Governor Ricardo Rossello said in a statement obtained
by the news agency.

He noted agreements have also been reached with bondholders of
Puerto Rico's Government Development Bank and more recently with
some investors in Puerto Rico Electric Power Authority debt, the
report relays.

"These agreements are an important step to recover access to
capital markets," the governor said, the report discloses.

The COFINA Senior Bondholders Coalition said in a statement that
the deal lays the groundwork for future capital access, as well as
"equitable recoveries and the resumption of restructured cash
interest for all bondholders, including a large cross-section of
local retirees and individuals," the report says.

"Importantly, the deal also reduces Puerto Rico's debt by
approximately $7 billion, preserves access to low-cost
securitizations and increases the commonwealth's FY2019 sales tax
revenue by more than $360 million," the statement said, the report
adds.

                      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, 2017.  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 on-board as attorneys.

McKinsey & Co. is the Board's strategic consultant, Ernst &
Youngis 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

Kramer Levin Naftalis & Frankel LLP and Toro, Colon, Mullet,
Rivera & Sifre, P.S.C. and serve as counsel to the Mutual Fund
Group, comprised of mutual funds managed by Oppenheimer Funds,
Inc., and the First Puerto Rico Family of Funds, which
collectively hold over $4.4 billion of GO Bonds, COFINA Bonds, and
other bonds issued by Puerto Rico and other instrumentalities.

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, and Monarch
Alternative Capital LP.

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 an official committee of retirees and an
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.


===============
S T.  L U C I A
===============


* ST. LUCIA: Climate Change Could Have Devastating Consequences
---------------------------------------------------------------
Caribbean360.com reports that the Caribbean island nation of St
Lucia is home to more than 2,000 native species -- of which nearly
200 species occur nowhere else in the world.  Though less than 616
square kilometers in area, the island is exceptionally rich in
animals and plants, according to Caribbean360.com.

St Lucia's best-known species, the endangered Amazon parrot, is
recognized by its bright green plumage, purple forehead and dusty
red-tipped feathers, the report notes.

But a major conservation organization warns that climate change
and a lack of care for the environment could have devastating
consequences for St Lucia's healthy ecosystems and rich
biodiversity, the report relays.

The report notes that Sean Southey chairs the Commission on
Education and Communication (CEC) of the International Union for
Conservation of Nature (IUCN).

He told IPS that urgent action is needed to safeguard the eastern
Caribbean island nation's biodiversity, which is under constant
threat, the report says.

Other species of conservation concern include the pencil cedar,
staghorn coral and St Lucia racer, the report discloses.  The
racer, confined to the nine-hectare island of Maria Major, is
thought to be the world's most threatened sake, the report says.
Also at risk are mangrove forests and low-lying freshwater
wetlands, Mr. Southey said, the report notes.

But he said it was not too late to take action. He urged St Lucia
and its Caribbean neighbors to take advantage of their small size,
the report adds.


=================
V E N E Z U E L A
=================


VENEZUELA: Gov't. Briefs US Diplomat on Nicolas Maduro Attack
-------------------------------------------------------------
Financial Express reports that Venezuela's Foreign Minister has
met the top US diplomat in the country to present evidence linking
a Venezuelan living in the US with the failed attempt on the life
of President Nicolas Maduro.  Jorge Arreaza said after the meeting
that he had delivered the US charge d'affaires James Story "a
preliminary report" that details the involvement of Venezuelan
national Osman Delgado in the attack with explosives against
Maduro, Efe news reported, according to Financial Express.

"Venezuela will request the extradition of this citizen and we
will carry out the request through the official channels," Mr.
Arreaza told reporters.  The minister also said that Story had
expressed "his concern regarding the events" as well as the
willingness of the US "to cooperate" in the investigation, the
report notes.

"For many years, the US has considered the fight against terrorism
as one of its main goals.  We want to see this in practice by
means of cooperation with Venezuela," the foreign minister added,
the report relays.  Also present for the meeting was Attorney
General Tarek Saab, who told Globovision television that the
conversation was "very cordial," the report discloses.

Mr. Saab said that his office had already started the procedures
to request the extradition of Delgado, who he associated with the
theft of hundreds of firearms and several grenade launchers from a
military headquarters last year, the report relays.

As reported in the Troubled Company Reporter-Latin America on
June 1, 2018, S&P Global Ratings, on May 29, 2018, removed its
long- and short-term local currency sovereign credit ratings on
Venezuela from CreditWatch with negative implications and affirmed
them at 'CCC- /C'. The outlook on the long-term local currency
rating is negative. At the same time, S&P affirmed its 'SD/D'
long- and short-term foreign currency sovereign credit ratings on
Venezuela. S&P's transfer and convertibility assessment remains at
'CC'.


VENEZUELA: Former Parliament Speaker Charged for Attack on Maduro
-----------------------------------------------------------------
Business Standard reports that Venezuela's Supreme Court has
ordered the arrest of opposition leader and former congressional
speaker Julio Borges in connection with the failed attempt on the
life of President Nicolas Maduro.

Business Standard, citing Efe News, relates that the court said
Mr. Borges is also responsible for the attempted homicide of seven
army officers who were injured in the attacks.  The lawmaker was
also charged with "terrorism, funding terrorism, and conspiracy to
commit crimes."

The report relays that Mr. Borges, who remains a member of
congress, is currently in neighboring Colombia.

The order to arrest Borges comes as the National Constituent
Assembly debates lifting the immunity of various legislators
accused of links to the attack on the president, the report says.

The report relays that President Maduro was presiding over a
military ceremony when attackers launched two drones carrying
explosives toward the president, his wife and other dignitaries.

Electronic counter-measures diverted one drone and the second hit
an apartment building several blocks away, the report relays.

The ceremony was being aired live on television and viewers could
see images of President Maduro and the first lady looking upward
before security officers gathered around the president to shield
him, the report discloses.

Six alleged perpetrators are in custody, the report relays.

President Maduro accused Mr. Borges and another lawmaker, Juan
Requesens, of being involved in the attack, says the report.

Primero Justicia, the party to which both lawmakers belong,
denounced that Requesens was arrested in his home by the Sebin
intelligence service, the report relates.

Mr. Borges condemned the arrest of his colleague, says the report.

"You are the only person who is responsible for the tragedy in the
country," Mr. Borges wrote on Twitter from Colombia, addressing
President President Maduro, the report adds.

As reported in the Troubled Company Reporter-Latin America on
June 1, 2018, S&P Global Ratings, on May 29, 2018, removed its
long- and short-term local currency sovereign credit ratings on
Venezuela from CreditWatch with negative implications and affirmed
them at 'CCC- /C'. The outlook on the long-term local currency
rating is negative. At the same time, S&P affirmed its 'SD/D'
long- and short-term foreign currency sovereign credit ratings on
Venezuela. S&P's transfer and convertibility assessment remains at
'CC'.


                            ***********


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 2018.  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.
.


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