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       T R O U B L E D   C O M P A N Y   R E P O R T E R

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

          Monday, April 15, 2019, Vol. 20, No. 75

                           Headlines



A R G E N T I N A

TOYOTA COMPANIA: Moody's Gives Ba3 Rating to ARS200MM Debt


B R A Z I L

FERTILIZANTES HERINGER: Proposes 20% Recovery to Unsec. Creditors


C A Y M A N   I S L A N D S

NETSHOES (CAYMAN): B2W and Magazine Luiza Consider Acquisition


D O M I N I C A N   R E P U B L I C

DOMINICAN REPUBLIC: Caves to Pressure Over Severance Pay


G U A T E M A L A

GUATEMALA: Fitch Alters Outlook to Neg. & Affirms Foreign Curr. IDR


M E X I C O

GRAFTECH INTERNATIONAL: S&P Hikes ICR to 'BB-'; Outlook Stable


T R I N I D A D   A N D   T O B A G O

ANGOSTURA HOLDINGS: Exodus of Executives in Nine Years
TRINIDAD & TOBAGO: World Bank May Give Funds to Support Migrants


V E N E Z U E L A

VENEZUELA: Advised to Shun Officials with US Visas as Traitors


X X X X X X X X

[*] BOND PRICING: For the Week April 8 to April 12, 2019

                           - - - - -


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

TOYOTA COMPANIA: Moody's Gives Ba3 Rating to ARS200MM Debt
-----------------------------------------------------------
Moody's Latin America Agente de Calificacion de Riesgo S.A.
assigned a Ba3 global local currency senior unsecured debt rating
and a Aaa.ar national scale local currency debt rating to Toyota
Compania Financiera de Argentina S.A.'s (TCFA) expected Class 7
short-term issuance for up to ARS200 million, which will be due in
12 months.

The global rating has a stable outlook.

The following ratings were assigned to Toyota Compania Financiera
de Argentina S.A.'s Class 7 Short Term Debt Issuance:

  Ba3 Global Local Currency Senior Unsecured Debt Rating, outlook
stable

  Aaa.ar Argentina National Scale Local Currency Senior Unsecured
Debt Rating

RATINGS RATIONALE

TCFA's debt ratings incorporate the entity's b3 Baseline Credit
Assessment (BCA) and benefits from three-notches of uplift from its
BCA to reflect Moody's assessment of very high probability of
affiliate support in the event of stress, from its shareholder
Toyota Motor Corporation, rated Aa3. The assessment of support
reflects the company's key role as the financial agent for Toyota
Motor Corporation in Argentina and its strong commercial and
strategic importance to the corporation. Thanks to parental
support, the company is one of the strongest credits in Argentina,
as evidenced by its Aaa.ar national scale rating.

TCFA's earnings have been affected by the recent slowdown in
business volumes and weak credit demand over the past quarters,
triggered by high inflation and rising unemployment rates. TCFA's
captive car financing business and its predominant wholesale
funding profile tend to pressure margins when volumes decline, a
credit negative. Nevertheless, it managed to generate net income to
tangible assets of 1.07% during 2018. About 80% of TCFA's funding
is made of domestically issued debt, interbank loans, and
institutional deposits, all of which are expensive funding sources.
In addition, the company has a contingent credit facility of $100
million from its shareholder that can be available in an event of
stress. Liquid assets accounted for just 1.14% of tangible banking
assets as of year-end 2018.

The rating also captures its good asset quality with a highly
collateralized lending book. Despite increasing to 1.8% in 2018
from 1.1% a year before, delinquencies as a percentage of gross
loans remain relatively low, reflecting conservative risk
management practices that are aligned to those of its parent and
focus on middle and high-income individuals. However, delinquency
levels will rise as Argentina's recessionary conditions persist in
the following quarters, eroding borrowers' purchasing power. In
line with this, reserve coverage has decreased to 80% of the
impaired portfolio as of year-end 2018, from an adequate 122% in
2017.

Moody's expects current high interest rates will continue
compressing margins as in the case of the rest of the banking
system, as debts and deposits reprice at higher rates raising the
entity's funding cost. Together with lower lending prospects,
capital injections for almost $10 million in 2018 helped preserve
TCFA's capitalization ratio, measured by Moody's as tangible common
equity relative to risk weighted assets, which rose to 9.5% as of
year-end 2018, from just 6.02% in 2017.

The stable outlook on TCFA's rating is aligned with the stable
outlook on Argentina's government bond rating.

WHAT COULD CHANGE THE RATING -- UP/DOWN

An improvement in TCFA's capital, profitability or liquidity could
put upward pressure on the company's standalone assessment. Its
ratings are already at the level of the sovereign rating and would
only move if Argentina's government rating were to be upgraded.
Conversely, an erosion of the entity's capital base, a
deterioration in profitability or a significant increase in asset
risk could put downward pressure on both the global and national
scale ratings, as would an indication of decreased support from the
parent.




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

FERTILIZANTES HERINGER: Proposes 20% Recovery to Unsec. Creditors
-----------------------------------------------------------------
Reuters reports that Brazilian fertilizer company Fertilizantes
Heringer SA proposed to repay unsecured creditors 20% of amounts
owed them and to sell seven non-operating plants, as part of its
restructuring plan, according to a securities filing.

The company filed for bankruptcy protection in February, closing
nine of its plants in Brazil and laying off workers, as its
liquidity situation deteriorated, according to Reuters.




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

NETSHOES (CAYMAN): B2W and Magazine Luiza Consider Acquisition
--------------------------------------------------------------
Paula Laier at Reuters reports that Brazilian retailers B2W and
Magazine Luiza confirmed in filings they are considering the
acquisition of online shoe retailer Netshoes (Cayman) Limited.

The deal model is still unclear, according to Reuters.  When
Netshoes hired Goldman Sachs last year, the company was seeking an
investor to inject cash so it could restructure its debt, the
report notes.

Analysts at Banco Brasil Plural said in a note to clients that a
potential acquisition would be neutral for Magazine Luiza, as the
acquisition price would not strongly affect cash flow, the report
relays.

"Magazine Luiza could use the Netshoes opportunity to start selling
clothes and shoes to compete with Amazon.com in Brazil", analysts
said, the report discloses.

Netshoes has a market capitalization of $68 million, but as the
company is highly indebted, the total cost of the deal would be
higher, the report says.

Brasil Plural analysts considered an acquisition would be negative
for B2W, as its cash flow would be affected by Netshoes losses, the
report adds.



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

DOMINICAN REPUBLIC: Caves to Pressure Over Severance Pay
--------------------------------------------------------
Dominican Today reports that the Dominican government said it will
send to Congress a bill to eliminate the Dominican Social Security
Institute (IDSS), but which excludes any mention of the severance
pay.

Executive Branch legal advisor Flavio Dario Espinal said the
measure responds to "unfounded statements by some union leaders
that the Dominican Government intends to eliminate the severance
pay to the detriment of workers through the bill to dissolve the
IDSS law," according to Dominican Today

"We want to emphasize that the bill does not propose in any way the
elimination or modification of the current scheme of unemployment,
as indicated by the unions," Mr. Espinal said in a National Palace
press conference, the report relays.

As reported in the Troubled Company Reporter-Latin America on Sept.
24, 2018, Fitch Ratings affirmed Dominican Republic's Long-Term,
Foreign-Currency Issuer Default Rating (IDR) at 'BB-' with a Stable
Outlook.




=================
G U A T E M A L A
=================

GUATEMALA: Fitch Alters Outlook to Neg. & Affirms Foreign Curr. IDR
-------------------------------------------------------------------
Fitch Ratings has affirmed Guatemala's Long-Term Foreign-Currency
Issuer Default Rating at 'BB' and revised the Rating Outlook to
Negative from Stable.

KEY RATING DRIVERS

The revision of Guatemala's Outlook to Negative reflects heightened
political tension and uncertainty, and a steady erosion in the
government's already low tax collection. Presidential and
congressional elections scheduled for this year may result in a
government with a weak mandate, and are likely to lead to a
fractured congress, represented by numerous political parties,
resulting in continued political gridlock and diminishing reform
prospects. The failure to enact reforms at the tax administration
as well as pass new tax measures would lead to further erosion of
revenues.

Guatemala's ratings are supported by a track record of
macroeconomic stability and conservative policies, low public debt
to GDP and sound external liquidity. These strengths are
counterbalanced by a narrow tax base that constrains policy
flexibility and limits debt tolerance, as well as weak governance,
investment levels and human development indicators.

In early 2019, President Jimmy Morales decided to unilaterally
terminate the mandate of the UN-backed International Commission
Against Impunity in Guatemala CICIG, but his attempt has so far
been blocked by the constitutional court. CICIG's two-year mandate
expires in September 2019; it has been investigating corruption
cases within the country since 2007. Campaign financing
investigations against President Morales and members of congress,
coupled with a fragmented congress, have led to political paralysis
for the majority of the administration's term, undermining public
and private investment and preventing the passage of the budget in
2018.

General elections - electing the president, local government and
the unicameral legislature - are scheduled to be held in June 2019,
and are likely to proceed to a second round run-off in August.
Latest surveys place former First Lady Sandra Torres in the lead,
followed by former Attorney-General Thelma Aldana and Zury Rios -
daughter of former ruler Efrain Rios Montt. Several presidential
candidates, including the three front-runners, face legal
challenges that could weaken their candidacy and may disqualify
them.

Ongoing criminal investigations into presidential candidates and
mud-slinging between candidates could weaken the credibility and
legitimacy of the election process and undermine the political
mandate of the next administration. An atomized congress, a likely
scenario given the wide array of political parties, would further
decrease the likelihood of reforms promoting economic and social
development and addressing the weak tax collection.

Low government revenues remain a key credit weakness. Growth in
government revenue has continuously lagged economic growth. As a
result, total government revenue fell to 10.6% of GDP from 11.0% in
2016, among the lowest in Fitch's rating universe. Low revenue
levels and continuous weak performance reflect institutional
challenges at the tax authority, high levels of tax evasion and
weak control of corruption. Administrative measures tackling tax
evasion (e.g. broad usage of electronic billing) could improve VAT
collection in 2019; however, Fitch expects such measures will have
a moderate impact.

Fitch expects the central government deficit will reach 2.2% of GDP
in 2019, below the 2.4% of GDP target in the 2019 budget.
Expenditure execution improved in 2018 but is likely to persist.
The higher deficit is intended to tackle infrastructure and human
capital gaps, but mostly reflects an increase of 0.7pp of GDP in
current expenditure (goods and services) relative to 2018, while
capital expenditure increases only 0.2 pp of GDP. The central
government deficit reached 1.8% of GDP in 2018, above the 1.3% of
GDP in 2017, due to improved capital expenditure execution. The
2018 budget failed to pass the Congress and the 2017 budget
remained in effect. Guatemala's general government deficit is below
the 'BB' median of 2.7% of GDP, but interest to revenues at 13.6%
is double the 'BB' median of 6.3%.

Fitch forecasts a relatively stable government debt burden. Central
government debt has remained steady at around 24% of GDP since
2010. General government debt to GDP of 22% (net of social security
government debt holdings) is one of the lowest in the 'BB'
category. Nevertheless, Guatemala's general government debt to
revenues rose to 212% in 2018 from 199% in 2017 due to weak revenue
performance. This ratio is significantly weaker than the 'BB'
median of 154% and signals Guatemala's lower debt tolerance
relative to peers.

External finances continue to be a key credit strength. Foreign
reserves cover more than seven months of imports, resulting in one
of the highest liquidity ratios among rating peers. Fitch expects
current account surpluses for 2019 and 2020 albeit on a declining
trend. The current account has shown surpluses over the last three
years as remittance inflows more than offset large trade deficits.
Remittances reached 12% of GDP in 2018 following four years of
growth averaging 14%. However, foreign direct investment has been
on declining trend since 2013.

Fitch expects growth at 3.2% in 2019 driven by a recovery of the
export sector, a looser fiscal stance and positive construction
performance. Remittances will continue to support private
consumption. Growth picked up slightly to 3.1% in 2018 from 2.8% in
2017, due to private consumption growth funded by large remittances
inflows. The construction sector showed improved activity in the
second half of the year owing to easing of bureaucratic procedures.
Low public and private investment will continue to restrain
medium-term growth prospects. Weak infrastructure quality continues
to undermine productivity and competitiveness vis-a-vis regional
peers.

DERIVATION SUMMARY

SOVEREIGN RATING MODEL (SRM) and QUALITATIVE OVERLAY (QO)

Fitch's proprietary SRM assigns Guatemala a score equivalent to a
rating of 'BB+' on the Long-Term Foreign-Currency (LT FC) IDR
scale.

Fitch's sovereign rating committee adjusted the output from the SRM
to arrive at the final LT FC IDR by applying its QO, relative to
rated peers, as follows:

  -- Structural: -1 notch, to reflect heightened political tension
and congressional gridlock that limits the government's ability to
pass reforms.

Fitch's SRM is the agency's proprietary multiple regression rating
model that employs 18 variables based on three-year centred
averages, including one year of forecasts, to produce a score
equivalent to a LT FC IDR. Fitch's QO is a forward-looking
qualitative framework designed to allow for adjustment to the SRM
output to assign the final rating, reflecting factors within
Fitch's criteria that are not fully quantifiable and/or not fully
reflected in the SRM.

KEY ASSUMPTIONS

  -- Fitch forecasts that Guatemala's economy and balance of
payments will continue to benefit from strong remittance inflows
from the US.

  -- The global economy performs largely in line with Fitch's
Global Economic Outlook (March 2019).

RATING SENSITIVITIES

Factors that could lead to a downgrade:

  -- A slowdown in growth, for example due to a disruption of
remittances, social unrest and/or governability challenges;

  -- Continued erosion of the revenue base that undermines fiscal
flexibility;

  -- Political gridlock that constrains government financing
flexibility and effective policy making.

Factors that could lead to a stabilization of the Outlook:

  -- Improvements in tax collection that enhance fiscal policy
flexibility;

  -- Higher investment and growth prospects;

  -- Improvements in governance and human development indicators
relative to peers.




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

GRAFTECH INTERNATIONAL: S&P Hikes ICR to 'BB-'; Outlook Stable
--------------------------------------------------------------
S&P Global Ratings raised its issuer credit rating and secured term
loan rating on U.S.-based graphite electrode manufacturer GrafTech
International Ltd. to 'BB-'from 'B+'. The '3' recovery
rating is unchanged.

GrafTech prepaid $100 million in debt in the first quarter of 2019,
and has $112.5 million in annual term loan amortization payments.
The company also signed new long-term agreements (LTAs) at
favorable prices in the first quarter of 2019.  These new
contracts, for 40,000 metrics tons (mt) of graphite electrode,
combined with existing contracts, should help lock in about $700
million in EBITDA per year through 2021, according to S&P.

"Our upgrade primarily reflects our expectation for better earnings
visibility and for debt leverage to remain no higher than the
company's target maximum of 2x-2.5x as it balances out debt
repayments and shareholder returns," S&P said. The rating agency
also expects higher needle coke costs limiting capacity additions
and low import risk to support favorable graphite electrode market
conditions, as evidenced by the terms of GrafTech's take-or-pay
contracts through 2023.

The stable outlook reflects S&P's expectation that GrafTech's
credit metrics will remain steady as the company benefits from
favorable take-or-pay contracts and maintains a more conservative
financial policy. The rating agency expects stable operating
performance to lead to adjusted debt to EBITDA in the 2x area over
the next 12 months.

"We could lower our ratings if the company were to pursue
additional debt-financed shareholder-friendly activities or if
graphite electrode market conditions deteriorate. In this scenario,
debt leverage could move well beyond 3x while contract renewals put
operating margins at risk through lower realized prices," S&P
said.

"While unlikely, we could raise our ratings if Brookfield were to
significantly reduce its ownership and GrafTech maintained strong
cash flow and modest debt leverage. In this scenario, we would
expect the financial sponsor's equity stake to be less than 40% and
the company's adjusted debt to EBITDA to remain at less than 2x,"
the rating agency said.

GrafTech researches, develops, manufactures, and sells
graphite-based products worldwide. It offers ultra-high power (UHP)
graphite electrodes, which are key components of the conductive
power systems used to produce EAF steel. The company operates three
graphite electrode facilities in Europe and Mexico with total
capacity of 202,000 mt in 2018. GrafTech also operates a vertically
integrated petroleum needle coke facility in Texas. The company was
founded in 1886 and is headquartered in Brooklyn Heights, Ohio.




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

ANGOSTURA HOLDINGS: Exodus of Executives in Nine Years
------------------------------------------------------
Asha Javeed at Trinidad Express reports that in less than nine
years, the publicly traded rum and bitters company Angostura
Holdings Ltd has changed three chief executives, five chairmen and
a suite of executives.

Genevieve Jodhan, the last chief executive, resigned after an
agreed settlement, according to Trinidad Express.  Jodhan's
high-profile exit from Angostura was the latest in a series of
high-profile executive exits from the company, the report notes.


TRINIDAD & TOBAGO: World Bank May Give Funds to Support Migrants
----------------------------------------------------------------
Trinidad Express reports that Trinidad and Tobago may qualify for
grant funding from the World Bank to treat with the large influx of
migrants from Venezuela into Trinidad Express, the international
financial institution suggested in a statement.

The Washington DC-based global development lender announced in a
statement that the Global Concessional Financing Facility (GCFF)
would make a US$31.5 million grant to Colombia as budget support
for the South American country's efforts to facilitate access to
jobs and basic social services for Venezuelan migrants and
refugees, as well as the communities that are hosting them,
according to Trinidad Express.




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

VENEZUELA: Advised to Shun Officials with US Visas as Traitors
--------------------------------------------------------------
Carlos Camacho at The Latin American Herald reports that there are
"traitors" in the embattled Nicolas Maduro administration, Prison
Minister Iris Varela warned Venezuela's de facto leader.  She added
that Maduro would do wisely in shunning officials of his regime
that still hold valid U.S. visas, according to The Latin American
Herald.

The report notes that the bunker mentality that has descended on
Chavismo has certainly taken a turn for the worst over the years,
particularly after National Assembly President Juan Guaido claimed
the title of interim President on January 23rd and the U.S.
strengthened and multiplied sanctions against regime officials
which started being implemented in 2008.

Hundreds of Maduro officials and their family members with the
regime have had their US visas annulled since but most intensely
since Donald Trump, an avid Maduro critic, became president in
early 2017, the report relays.

"I ask the president (Maduro) to be careful around those that still
have U.S. visas, a person that this late in the game still has a US
visa is not to be trusted to be by the side of commander Nicolas
Maduro," Ms. Varela said during an appearance in VTV, the state
television network.  "That's what I do ask always . . . of the
president of the Republic, take care of yourself . . . . there are
traitors still around, there are people who have a price," she
added.

As a result of U.S. pressure combined with Guaido's offers of
amnesty to officials (including police and military) that abandon
Maduro, some 1,500 individuals have broken ranks with the regime
since February 23, the report relays.  Some high ranking defections
started even before that, with Attorney General Luisa Ortega
turning her back on Maduro in early 2017, during a live TV
broadcast, the report adds.

As reported in the Troubled Company Reporter-Latin America, S&P
Global Ratings in May 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'.




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

[*] BOND PRICING: For the Week April 8 to April 12, 2019
--------------------------------------------------------
  Issuer Name              Cpn     Price   Maturity  Country  Curr
  -----------              ---     -----   --------  -------   ---

MIE Holdings Corp          7.5    56.2    4/25/2019    HK     USD
Cia Latinoamericana de     9.5    73.9    7/20/2023    AR     USD
China Huiyuan Juice Gr     6.5    46.6    8/16/2020    CN     USD
Yida China Holdings Lt     7.0    74.3    4/19/2020    CN     USD
Noble Holding Internat     5.3    60.5    3/15/2042    KY     USD
YPF SA                    16.5    67.3     5/9/2022    AR     ARS
Noble Holding Internat     6.2    62.2     8/1/2040    KY     USD
Odebrecht Finance Ltd      7.0    17.0    4/21/2020    KY     USD
Banco Macro SA            17.5    65.2     5/8/2022    AR     ARS
KrisEnergy Ltd             4.0    40.4     6/9/2022    SG     SGD
Noble Holding Internat     6.1    62.0     3/1/2041    KY     USD
USJ Acucar e Alcool SA     9.9    74.0    11/9/2019    BR     USD
Avadel Finance Cayman      4.5    55.0     2/1/2023    US     USD
Odebrecht Finance Ltd      6.0    16.4     4/5/2023    KY     USD
Argentine Republic Gov     6.9    75.2    1/11/2048    AR     USD
Polarcus Ltd               5.6    71.8     7/1/2022    AE     USD
Argentine Republic Gov     8.3    74.5   12/31/2033    AR     USD
MIE Holdings Corp          7.5    56.4    4/25/2019    HK     USD
Automotores Gildemeist     8.3    54.2    5/24/2021    CL     USD
YPF SA                    16.5    67.3     5/9/2022    AR     ARS
Provincia del Chubut A     4.5    2208    3/30/2021    AR     USD
Argentine Republic Gov     4.3    70.0   12/31/2033    AR     JPY
Automotores Gildemeist     6.8    54.9    1/15/2023    CL     USD
Cia Latinoamericana de     9.5    74.3    7/20/2023    AR     USD
Enel Americas SA           5.8    32.7    6/15/2022    CL     CLP
Banco Macro SA            17.5    65.2     5/8/2022    AR     ARS
Provincia de Rio Negro     7.8    70.3    12/7/2025    AR     USD
Odebrecht Finance Ltd      6.0    16.4     4/5/2023    KY     USD
Province of Santa Fe       6.9    75.2    11/1/2027    AR     USD
Odebrecht Finance Ltd      7.0    16.5    4/21/2020    KY     USD
Province of Santa Fe       6.9    74.7    11/1/2027    AR     USD
Embotelladora Andina S     3.5    37.9    8/16/2020    CL     CLP
USJ Acucar e Alcool SA     9.9    74.0    11/9/2019    BR     USD
Argentine Republic Gov     8.3    72.9   12/31/2033    AR     USD
Empresa Provincial de     12.5     0.0    1/29/2020    AR     USD
Cia Energetica de Pern     6.2     1.1    1/15/2022    BR     BRL
Provincia de Buenos Ai     7.9    75.3    6/15/2027    AR     USD
AES Tiete Energia SA       6.8     1.2    4/15/2024    BR     BRL
Provincia de Rio Negro     7.8    70.4    12/7/2025    AR     USD
Argentine Republic Gov     0.5    27.6   12/31/2038    AR     JPY
Plaza SA                   3.5    38.3    8/15/2020    CL     CLP
Banco Security SA          3.0     5.6     7/1/2019    CL     CLP
Argentina Bonar Bonds      5.8    75.2    4/18/2025    AR     USD
Corp Universidad de Co     5.9    64.2   11/10/2021    CL     CLP
City of Cordoba Argent     7.9    73.1    9/29/2024    AR     USD
Automotores Gildemeist     8.3    54.2    5/24/2021    CL     USD
Provincia de Cordoba       7.1    72.7     8/1/2027    AR     USD
Argentine Republic Gov     6.3    74.1    11/9/2047    AR     EUR
Provincia del Chaco Ar     4.0     0.0    12/4/2026    AR     USD
Fospar S/A                 6.5     1.2    5/15/2026    BR     BRL
Empresa de Transporte      4.3    30.9    7/15/2020    CL     CLP
Argentina Bonar Bonds      7.6    74.4    4/18/2037    AR     USD
Automotores Gildemeist     6.8    54.9    1/15/2023    CL     USD
SACI Falabella             2.3    50.6    7/15/2020    CL     CLP
Sylph Ltd                  2.4    65.1    9/25/2036    KY     USD
Banco Security SA          3.0    27.4     6/1/2021    CL     CLP
Empresa Electrica de l     2.5    63.8    5/15/2021    CL     CLP
Sociedad Austral de El     3.0    17.0    9/20/2019    CL     CLP
Provincia del Chaco Ar     9.4    74.8    8/18/2024    AR     USD
Argentine Republic Gov     7.1    75.7    6/28/2117    AR     USD
Provincia de Cordoba       7.1    74.7     8/1/2027    AR     USD
Metrogas SA/Chile          6.0    41.6     8/1/2024    CL     CLP
Esval SA                   3.5    49.9    2/15/2026    CL     CLP



                           *********


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 2019.  All rights reserved.  ISSN 1529-2746.

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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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