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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, February 24, 2025, Vol. 26, No. 39

                           Headlines



A R G E N T I N A

ARGENTINA: Milei's Plan to Boost Farm Exports
ARGENTINA: Want US Trade Deal Despite Competition, Tariff Fears
GAUCHO GROUP: Posts $3.1MM Net Loss in 3Q 2024


B E R M U D A

NABORS INDUSTRIES: Incurs $176.1MM Net Loss in FY Ended Dec. 31
NABORS INDUSTRIES: Susquehanna and Affiliates Hold 1.7% Stake


D O M I N I C A N   R E P U B L I C

DOMINICAN REPUBLIC: S&P Assigns 'BB' Rating on US$5BB Bonds


J A M A I C A

JAMAICA: BOJ Accepts 44 Bids for its $5.5BB Certificate of Deposit


P U E R T O   R I C O

ZAGACITY TECH: Unsecured Creditors to Split $25,000 in Plan


T R I N I D A D   A N D   T O B A G O

TRINIDAD & TOBAGO: Inflation Remains Under One Per Cent


X X X X X X X X

[] BOND PRICING: For the Week from Feb. 17 to Feb. 21, 2025

                           - - - - -


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

ARGENTINA: Milei's Plan to Boost Farm Exports
---------------------------------------------
Buenos Aires Times reports that President Javier Milei is moving to
give the neglected Parana waterway its first major upgrade in
nearly two decades.  But time is running out for the fixes to be
made if Argentina is to prevent neighbouring Brazil - where
maritime infrastructure is already rapidly expanding - from
building an insurmountable lead as Latin America's agricultural
powerhouse, the report says.

"Brazil is leaving us behind, and if we delay any further we'll
inevitably lose even more competitiveness," said Antonio Sanchez,
an Argentine shipping infrastructure expert at Panama-based
consultancy firm Talasonomica, the report discloses.

The Parana is Argentina's gateway to global markets, the report
says.  Around 80 percent of all the country's crops are loaded on
its shores, the report relays.  But the shipping channel hasn't
been deepened since 2006 - even as global soy commerce has doubled
in the same period, the report notes.

The shallow waters mean that exporters in Argentina can't load a
typical Panamax ship as in rival Brazil, the report discloses.
Instead, vessels sailing out of the Parana have to anchor again at
Atlantic ports to top up their cargoes, either at Argentina's
Bahía Blanca, or at Brazil's Santos or Paranagua, the report
relays.  The detours cost hundreds of millions of dollars every
year, the report says.

The efficiency of having a shipping route run right beside prime
farm acreage spurred the world's biggest agriculture traders, like
Bunge Global SA, Cargill Inc, Louis Dreyfus Co and Viterra Inc, to
build a vast industrial complex for processing soybeans by the
riverside city of Rosario, the report notes.  The development,
which started in the 1990s, made Argentina the number one exporter
of soy meal, a livestock feed, and soy oil, used in food and
biofuels, the report discloses.

Now, the country is trying to regain the logistics advantage that
lured the traders in the first place, the report says.

"Taming the raging river to create the waterway was one of the
greatest success stories in nautical history," said Sergio Borelli,
who navigated the Parana for years as a ship pilot, the report
relays.  "But within 10 to 15 years we realised that we had too
many ships and a channel whose dimensions were too small for what
we were aspiring to do. It needs to be deeper, wider, longer," he
added.

So it was a relief late last year when Milei's government published
the terms of a new dredging deal, including a key provision to
deepen the waterway to 39 feet (11.9 metres) from 36 feet within
five years, and the possibility of digging even deeper - though
it's unclear what impact excavating so much silt will have on
cherished wetlands, the report relays.

That squares with Milei's vow to unleash the full potential of
Argentina's beleaguered farmers, the report says.  The country
depends on them for hard-currency revenue, which is vital to
achieving sustained economic growth. But they have long been
hampered by the government's habit of taxing and meddling in
exports - all while watching port expansions in Brazil keep pace
with its remarkable crop boom, the report notes.

Dredgers need to submit offers for the contract, with companies
from Belgium and Denmark circling. In the recent past, China's CCCC
Shanghai Dredging Co has also expressed interest, but Milei
officials have excluded state-controlled entities from bidding, the
report discloses.

The tender also comes after the contract to maintain the waterway
was allowed to expire a few years ago, which spawned administrative
inefficiencies that shippers are paying for with recent hikes to
river tolls, the report relays.

When Spanish colonisers started pillaging Potosí Mountain in
modern-day Bolivia in the 16th century, they sent its precious
metals out along the Parana, through expanses of rainforest and
pampas, lending the exit point near Buenos Aires its name - Río de
la Plata, or silver river estuary, the report says.

Hundreds of years later, Belgium's Jan de Nul NV carved out today's
navigation channel. That allowed seafaring tankers and bulk
carriers to sail hundreds of miles inland from the Atlantic Ocean
and the Parana became an expressway for exports, much like the
Mississippi and China's Yellow River, the report notes.  In
addition to crops, the Parana is used by steel exporters,
fertiliser importers, and in the fuel and automotive trades, the
report says.

But as the Parana turned from a prized asset into a liability,
climate change exacerbated challenges faced by mariners as
Argentina endured several droughts over the last few years.  With
its narrow passes and peculiar changes in draft, ships must waste
precious time waiting for ocean tides to swell the channel and
provide navigable water levels, the report relays.

"The waterway is old-fashioned; it's essential to bring it into the
modern era," said Alfredo Sese, a freight transportation expert at
the Rosario Board of Trade, the report notes.  "Without improvement
we run the risk of stagnant industrial production, disinvestment in
ports and soy processing, and, in turn, a reduction in dollar
inflows to the economy," he added.

To be sure, the Milei tender has come under criticism, including
from export and maritime groups who want a requirement for the
channel to go deeper than 39 feet in order to fully load Panamax
ships with soy meal, the report relays.  That, they say, would
truly help close the gap with Brazil the report notes.

"We have to go straight to 42 feet," said Guillermo Wade, head of
port group CAPyM in Rosario.  "Otherwise it'll be futile," he
added.

                            About Argentina
       
Argentina is a country located mostly in the southern half of South
America. Its capital is Buenos Aires. Javier Milei is the current
president of Argentina after winning the November 19, 2023 general
election. He succeeded Alberto Angel Fernandez in the position.
       
Argentina has the third largest economy in Latin America.  The
country's economy is an upper middle-income economy for fiscal year
2019, according to the World Bank.  Historically, however, its
economic performance has been very uneven, with high economic
growth alternating with severe recessions, income maldistribution
and in the recent decades, increasing poverty.
       
In March 2022, the International Monetary Fund (IMF) approved a new
30-month arrangement under an Extended Fund Facility for Argentina
in the amount of SDR 31.914 billion (equivalent to US$44 billion,
or 1000 percent of quota).  The IMF Executive Board's decision
allowed the authorities an immediate disbursement of an equivalent
of US$9.65 billion in March 2022.
       
Argentina's IMF-supported program seeks to improve public finances
and start to reduce persistent high inflation through a
multi-pronged strategy, involving a gradual elimination of monetary
financing of the fiscal deficit and enhancements in the monetary
policy framework.
       
In June 2024, the IMF Board completed an eighth review of the
Extended Arrangement under the Extended Fund Facility for
Argentina.  The IMF Board's decision enabled a disbursement of
around US$800 million to support the authorities' efforts to
entrench the disinflation process, rebuild fiscal and external
buffers, and underpin the recovery.
       
On Feb. 17, 2025, S&P Global Ratings lowered its local currency
sovereign credit ratings on Argentina to 'SD/SD' from 'CCC/C' and
its national scale rating to 'SD' from 'raB+'.  At the same time,
S&P affirmed its 'CCC/C' foreign currency sovereign credit ratings
on Argentina. The outlook on the long-term foreign currency rating
remains stable.
       
On Jan. 8, 2025, Moody's Ratings raised Argentina's local currency
ceiling to B3 from Caa1 and the foreign currency ceiling to Caa1
from Caa3.  Moody's said the decision to raise the local and
foreign currency ceilings reflects the increased predictability and
the greater consistency in economic policy that has led to a rapid
reduction in monetary and fiscal imbalances that were stoking very
high inflation.
       
On Nov. 15, 2024, Fitch Ratings upgraded Argentina's Long-Term
Foreign-Currency Issuer Default Rating (IDR) to 'CCC' from 'CC',
and its Long-Term Local-Currency IDR to 'CCC' from 'CCC-'.
Argentina's upgrade to 'CCC' from 'CC' reflects developments that
have improved Fitch's confidence in the authorities' ability to
make upcoming foreign-currency bond payments without seeking relief
of some sort.
       
DBRS, Inc. upgraded Argentina's Long-Term Foreign and Local
Currency Issuer Ratings to B (low) from CCC on November 25, 2024.
The trend on all ratings is Stable.


ARGENTINA: Want US Trade Deal Despite Competition, Tariff Fears
---------------------------------------------------------------
Buenos Aires Times reports that Argentines support President Javier
Milei's quest to negotiate a free trade agreement with the US, but
are split over competing with American firms and are very worried
about Donald Trump's looming tariffs.

About 60 percent of Argentines see a US trade deal as a "a good
idea" versus 35 percent opposed to the notion, according to LatAm
Pulse, a public opinion survey conducted by AtlasIntel for
Bloomberg News in late January, according to Buenos Aires Times.

Milei pledged in December to seek out a trade agreement with Trump,
and said in an interview with Bloomberg News that he'd be willing
to leave South American trade bloc Mercosur if necessary to get a
deal, the report notes.  It would mark a major reversal for
Argentina, which for decades was one of the world's most
protectionist economies and is now facing the prospect of Trump's
tariffs, the report says.

Argentines are less confident about the benefits of a future US
trade deal and are deeply concerned about what Trump's presidency
means for the South American nation in the near term, the report
notes.

Only 46 percent of respondents think Argentina's industries can
compete with their US counterparts, while 41 percent don't see
domestic companies winning many business battles over US corporate
titans, the survey found, the report discloses.

In the near term, more Argentines see Trump's presidency hurting
their country rather than helping it and nearly 60 percent fear the
economic impact of potential tariffs, the report says.  Those views
reinforce concerns held across Latin America that the US
president's second-term trade policies could be more painful, the
report relays.

Trump said he would implement 25 percent global tariffs on steel
and aluminium, which would affect two major Argentina firms:
Tenaris SA and Aluar Aluminio Argentino SAIC, the report discloses.
Reciprocal tariffs could also hit Argentina hard because it has
some of the highest average tariffs against US products in the
world, the report adds.

                      About Argentina

Argentina is a country located mostly in the southern half of South
America. Its capital is Buenos Aires. Javier Milei is the current
president of Argentina after winning the November 19, 2023 general
election. He succeeded Alberto Angel Fernandez in the position.

Argentina has the third largest economy in Latin America.  The
country's economy is an upper middle-income economy for fiscal year
2019, according to the World Bank.  Historically, however, its
economic performance has been very uneven, with high economic
growth alternating with severe recessions, income maldistribution
and in the recent decades, increasing poverty.

In March 2022, the International Monetary Fund (IMF) approved a new
30-month arrangement under an Extended Fund Facility for Argentina
in the amount of SDR 31.914 billion (equivalent to US$44 billion,
or 1000 percent of quota).  The IMF Executive Board's decision
allowed the authorities an immediate disbursement of an equivalent
of US$9.65 billion in March 2022.

Argentina's IMF-supported program seeks to improve public finances
and start to reduce persistent high inflation through a
multi-pronged strategy, involving a gradual elimination of monetary
financing of the fiscal deficit and enhancements in the monetary
policy framework.

In June 2024, the IMF Board completed an eighth review of the
Extended Arrangement under the Extended Fund Facility for
Argentina.  The IMF Board's decision enabled a disbursement of
around US$800 million to support the authorities' efforts to
entrench the disinflation process, rebuild fiscal and external
buffers, and underpin the recovery.

On Feb. 17, 2025, S&P Global Ratings lowered its local currency
sovereign credit ratings on Argentina to 'SD/SD' from 'CCC/C' and
its national scale rating to 'SD' from 'raB+'.  At the same time,
S&P affirmed its 'CCC/C' foreign currency sovereign credit ratings
on Argentina. The outlook on the long-term foreign currency rating
remains stable.

On Jan. 8, 2025, Moody's Ratings raised Argentina's local currency
ceiling to B3 from Caa1 and the foreign currency ceiling to Caa1
from Caa3.  Moody's said the decision to raise the local and
foreign currency ceilings reflects the increased predictability and
the greater consistency in economic policy that has led to a rapid
reduction in monetary and fiscal imbalances that were stoking very
high inflation.

On Nov. 15, 2024, Fitch Ratings upgraded Argentina's Long-Term
Foreign-Currency Issuer Default Rating (IDR) to 'CCC' from 'CC',
and its Long-Term Local-Currency IDR to 'CCC' from 'CCC-'.
Argentina's upgrade to 'CCC' from 'CC' reflects developments that
have improved Fitch's confidence in the authorities' ability to
make upcoming foreign-currency bond payments without seeking relief
of some sort.

DBRS, Inc. upgraded Argentina's Long-Term Foreign and Local
Currency Issuer Ratings to B (low) from CCC on November 25, 2024.
The trend on all ratings is Stable.


GAUCHO GROUP: Posts $3.1MM Net Loss in 3Q 2024
----------------------------------------------
Gaucho Group Holdings, Inc., reported $3,133,654 in net loss over
$69,425 in gross profit for the three months ended September 30,
2024, compared to $2,298,575 in net loss over $142,950 in gross
profit for the three months ended September 30, 2023.

The Company also reported $14,092,115 in total assets, $10,854,593
in total liabilities, and $530,239 in total stockholders' equity at
September 30, 2024.

The Company's ability to continue as a going concern is contingent
upon the Company's ability to successfully reorganize its
operations under Chapter 11, among other factors. As a result of
the Chapter 11 case, the realization of assets and the satisfaction
of liabilities are subject to uncertainty. The Chapter 11 filing
also affects the Company's ability to complete the necessary
infrastructure on its real estate lots, that is required in order
to consummate the lot sales and issue property deeds, due to
constraints on capital resources.

As a result of the Company's financial condition, the defaults
under the Company's debt agreements, and the risks and
uncertainties surrounding the Company's ability or the timing to
reorganize operations under Chapter 11, substantial doubt exists
that the Company will be able to continue as a going concern. The
condensed consolidated financial statements do not include any
adjustments relating to the recoverability and classification of
asset amounts or the classification of liabilities that might be
necessary should the Company be unable to continue as a going
concern.

As of September 30, 2024, the Company had cash of approximately
$213,000 and a working capital deficit of approximately $5,000,000.
During the nine months ended September 30, 2024 and 2023, the
Company incurred net losses of approximately $8,497,000 and
$9,976,000, respectively, and used cash in operating activities of
approximately $6,865,000 and $4,984,000, respectively.

As of September 30, 2024, future cash requirements for current
liabilities include $4,602,495 for accounts payable and accrued
expenses (including cash true up obligations in connection with
convertible debt in the amount of $1,484,677), $451,550 for lot
sale obligations, $1,595,697 of principal owed in connection with
convertible debt, $1,335,613 for loans payable, $36,849 for future
payments (including interest portion) under a finance lease, and
$88,185 for other current liabilities. Further, the Company's
convertible debt matured on February 21, 2024, and the Company has
subsequently received event of default notices demanding immediate
payment of all balances owed in connection with the convertible
debt, including $287,303 of redemption premiums currently included
derivative liability on the accompanying balance sheet. Balances
owed in connection with convertible debt in default remain
outstanding as of the date of the filing of this quarterly report
on Form 10-Q. Future cash requirements for long-term liabilities
include $101,118 for future payments under a finance lease
(including interest portion) and $30,394 for accrued expenses.

On February 27, 2024, the Company's equity line of credit was
terminated.

On November 4, 2024 the Company received cash proceeds of $395,000
in connection with a promissory note.

On November 12, 2024, the Company received $150,000 in proceeds
upon the issuance of a convertible promissory note with one of its
stockholders.

Between October 11, 2024 through November 12, 2024, the Company
received cash proceeds of $616,907 upon the sale of preferred
stock.

During the period from November 29, 2024 through December 30, 2024,
the Company received $141,758 in proceeds upon the issuance of a
non-convertible promissory note with the Company's President and
CEO.

Since inception, the Company's operations have primarily been
funded through proceeds received in equity and debt financings. The
Company believes it has access to capital resources and continues
to evaluate additional financing opportunities. There is no
assurance that the Company will be able to obtain funds on
commercially acceptable terms, if at all. There is also no
assurance that the amount of funds the Company might raise will
enable the Company to complete its development initiatives or
attain profitable operations.

Based upon projected revenues and expenses, the Company believes
that it may not have sufficient funds to operate for the next
twelve months from the date these condensed consolidated financial
statements are issued. The aforementioned factors raise
substantial
doubt about the Company's ability to continue as a going concern.

A full-text copy of the Form 10-Q is available at
https://urlcurt.com/u?l=afSdsK

        About Gaucho Group Holdings, Inc.

Gaucho Group Holdings Inc operates as a holding company. The
Company, through its subsidiaries, provides luxury real estate and
consumer marketplace with collection of wine, hospitality, fashion
brands, and real estate holdings. Gaucho Group Holdings serves
customers in the United States and Argentina.

Gaucho Group Holdings Inc. sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. S.D. Fl. Case No. 24-bk-21852) on
November 12, 2024.




=============
B E R M U D A
=============

NABORS INDUSTRIES: Incurs $176.1MM Net Loss in FY Ended Dec. 31
---------------------------------------------------------------
Nabors Industries Ltd. filed with the Securities and Exchange
Commission its Annual Report on Form 10-K for the fiscal year ended
December 31, 2024, disclosing a net loss attributable to Nabors
common shareholders of $176.1 million ($22.37 loss per diluted
share) in 2024, compared to a net loss attributable to Nabors
common shareholders of $11.8 million ($5.49 loss per diluted share)
in 2023, or a $164.3 million increase in the net loss.

Operating revenues in 2024 totaled $2.9 billion, representing a
decrease of $75.9 million, or 3%, from 2023.  

As of December 31, 2024, the Company had $4.5 billion in total
assets, $3.3 billion in total liabilities, $785.09 million in
redeemable noncontrolling interest in subsidiary, and a total
equity of $421.2 million.

Anthony G. Petrello, Nabors Chairman, CEO and President, commented,
"We are looking forward to adding Parker to the Nabors portfolio.
Our integration planning reinforces the Parker attributes that we
identified earlier. We are confident that this acquisition will
advance our strategic objectives while creating value for our
stakeholders.

"The market environment in the fourth quarter provided us with some
challenges in the U.S., as operators continued to modulate their
activity levels in oil basins, mainly driven by recent mergers.
Leading edge pricing in this market remained steady, supporting our
daily margins at relatively high levels. For 2025, we are planning
for stable market activity through the early part of the year.
Given this activity level, we are responding with actions to
improve efficiency and align our cost structure.

Our international businesses continued to expand in multiple
markets, including Saudi Arabia and Argentina. Although our
international success places pressure on our capital expenditures,
these are attractive growth opportunities for multiyear contracts
with high returns. In 2025, we have startups planned in the
Kingdom, Argentina, Colombia, and Kuwait. We project these
deployments will drive this segment's margins higher through the
year.

"SANAD, our 50/50 joint venture with Saudi Aramco, is progressively
adding 50 rigs over approximately 10 years. Through 2024, SANAD has
deployed nine of these units. The rigs work under six-year initial
contracts that are structured to recover the invested capital over
five years. This term is followed by a four-year renewal mechanism,
providing at least 10 years of utilization.

"In 2025, SANAD's working newbuild fleet should approximately
double its contribution in adjusted EBITDA over 2024. SANAD's
expansion remains one of our most exciting investment
opportunities. We believe that in the next several years our joint
venture will start generating cash flow in excess of the annual
investment required for the newbuild rigs, meaningfully increasing
value for Nabors as a whole."

A full-text copy of the Company's Form 10-K is available at:

                   https://tinyurl.com/2j33tpan

                           About Nabors

Bermuda-based Nabors Industries Ltd. (NYSE: NBR) owns and operates
land-based drilling rig fleets and provides offshore platform rigs
in the United States and several international markets. Nabors also
provides directional drilling services, tubular services,
performance software, and innovative technologies for its own rig
fleet and those of third parties.

Nabors Industries reported a net loss of $11.8 million for the year
ended December 31, 2023, a net loss of $307.22 million in 2022, a
net loss $543.69 million in 2021, a net loss of $762.85 million in
2020, a net loss of $680.51 million in 2019, a net loss of $612.73
million in 2018, and a net loss of $540.63 million in 2017. As of
March 31, 2024, the Company had $4.64 billion in total assets,
$3.37 billion in total liabilities, and $522.82 million in total
stockholders' equity.

                            *    *    *

In August 2024, Fitch Ratings has assigned a 'CCC'/'RR6′ rating
to Nabors Industries, Inc.'s proposed senior guaranteed notes (PGN)
due 2031. Nabors plans to utilize the proceeds from these notes to
refinance the 7.25% PGN due 2026 held at Nabors Industries, Ltd.
(Bermuda) and for general corporate purposes. The proposed notes
will rank pari passu with Bermuda's existing PGN due 2026 and PGN
due 2028.

Nabors' existing 'B-' Long-Term Company Default Rating and Stable
Outlook reflect the softening U.S. drilling environment since the
beginning of 2023, alongside a steadily growing international
segment. Fitch's credit profile assessment is supported by the
expectation that free cash flow (FCF) will be directed toward gross
debt reduction, as well as the company's proactive management of
its maturity profile and its adequate liquidity.

However, these positive factors are partially offset by the
company's large note maturities starting in 2027, which Fitch
anticipates will likely require partial refinancing through capital
markets. Additionally, potential declines in rig activity and day
rates could negatively impact cash flow and restrict FCF and
near-term gross debt reduction. The company's complex capital
structure, combined with the current high-interest rate
environment, could also limit refinancing options and increase
interest expenses.

In March 2024, S&P Global Ratings revised its outlook to stable
from positive and affirmed its 'B-' Company credit rating on Nabors
Industries Ltd. At the same time, S&P affirmed its 'B-' issue-level
rating on the company's senior priority guaranteed notes, with a
recovery rating of '3,' and a 'CCC' issue-level rating on the
company's priority guaranteed notes, with a recovery rating of '6.'
The stable outlook reflects S&P's expectation for the company's
operating performance, industry fundamentals, near-term debt
maturity profile, and credit metrics to remain appropriate for the

'B-' Company credit rating. The outlook revision reflects S&P's
expectation of reduced free cash flow generation and lower than
anticipated debt reduction.

In July 2024, S&P Global Ratings assigned its 'CCC' issue-level
rating and '6' recovery rating to Nabors Industries Ltd.'s proposed
$550 million senior guaranteed notes due 2031. The company's
subsidiary, Nabors Industries Inc., will issue the notes. The '6'
recovery rating indicates S&P's expectation of negligible (0%-10%;
rounded estimate: 0%) recovery of principal by creditors in the
event of a payment default.

NABORS INDUSTRIES: Susquehanna and Affiliates Hold 1.7% Stake
-------------------------------------------------------------
Susquehanna Securities, LLC disclosed in a Schedule 13G filed with
the U.S. Securities and Exchange Commission that as of December 31,
2024, it and its affiliated entities -- G1 Execution Services, LLC,
SIG Brokerage, LP, Susquehanna Fundamental Investments, LLC,
Susquehanna Investment Group -- beneficially owned 182,170 shares
of Nabors Industries Ltd.'s common stock, representing 1.7% of the
10,709,103 Shares outstanding as of December 3, 2024.

The number of Shares reported as beneficially owned by Susquehanna
Securities includes options to buy 101,800 Shares and 2,083 Shares
issuable upon the exercise of warrants to purchase Shares.

Susquehanna Securities may be reached through:

     Brian Sopinsky, Secretary
     401 E. City Avenue
     Suite 220
     Bala Cynwyd Pa. 19004
     Tel: 610-617-2600

A full-text copy of Susquehanna's SEC Report is available at:

                  https://tinyurl.com/3epxjtpj

                           About Nabors

Bermuda-based Nabors Industries Ltd. (NYSE: NBR) owns and operates
land-based drilling rig fleets and provides offshore platform rigs
in the United States and several international markets. Nabors also
provides directional drilling services, tubular services,
performance software, and innovative technologies for its own rig
fleet and those of third parties.

Nabors Industries reported a net loss of $11.8 million for the year
ended December 31, 2023, a net loss of $307.22 million in 2022, a
net loss $543.69 million in 2021, a net loss of $762.85 million in
2020, a net loss of $680.51 million in 2019, a net loss of $612.73
million in 2018, and a net loss of $540.63 million in 2017. As of
March 31, 2024, the Company had $4.64 billion in total assets,
$3.37 billion in total liabilities, and $522.82 million in total
stockholders' equity.

                            *    *    *

In August 2024, Fitch Ratings has assigned a 'CCC'/'RR6′ rating
to Nabors Industries, Inc.'s proposed senior guaranteed notes (PGN)
due 2031. Nabors plans to utilize the proceeds from these notes to
refinance the 7.25% PGN due 2026 held at Nabors Industries, Ltd.
(Bermuda) and for general corporate purposes. The proposed notes
will rank pari passu with Bermuda's existing PGN due 2026 and PGN
due 2028.

Nabors' existing 'B-' Long-Term Company Default Rating and Stable
Outlook reflect the softening U.S. drilling environment since the
beginning of 2023, alongside a steadily growing international
segment. Fitch's credit profile assessment is supported by the
expectation that free cash flow (FCF) will be directed toward gross
debt reduction, as well as the company's proactive management of
its maturity profile and its adequate liquidity.

However, these positive factors are partially offset by the
company's large note maturities starting in 2027, which Fitch
anticipates will likely require partial refinancing through capital
markets. Additionally, potential declines in rig activity and day
rates could negatively impact cash flow and restrict FCF and
near-term gross debt reduction. The company's complex capital
structure, combined with the current high-interest rate
environment, could also limit refinancing options and increase
interest expenses.

In March 2024, S&P Global Ratings revised its outlook to stable
from positive and affirmed its 'B-' Company credit rating on Nabors
Industries Ltd. At the same time, S&P affirmed its 'B-' issue-level
rating on the company's senior priority guaranteed notes, with a
recovery rating of '3,' and a 'CCC' issue-level rating on the
company's priority guaranteed notes, with a recovery rating of '6.'
The stable outlook reflects S&P's expectation for the company's
operating performance, industry fundamentals, near-term debt
maturity profile, and credit metrics to remain appropriate for the
'B-' Company credit rating. The outlook revision reflects S&P's
expectation of reduced free cash flow generation and lower than
anticipated debt reduction.

In July 2024, S&P Global Ratings assigned its 'CCC' issue-level
rating and '6' recovery rating to Nabors Industries Ltd.'s proposed
$550 million senior guaranteed notes due 2031. The company's
subsidiary, Nabors Industries Inc., will issue the notes. The '6'
recovery rating indicates S&P's expectation of negligible (0%-10%;
rounded estimate: 0%) recovery of principal by creditors in the
event of a payment default.



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

DOMINICAN REPUBLIC: S&P Assigns 'BB' Rating on US$5BB Bonds
-----------------------------------------------------------
S&P Global Ratings assigned its 'BB' issue ratings to the Dominican
Republic's bonds totaling an equivalent of around US$5 billion:

-- The equivalent of around US$2 billion on an external bond in
local currency (Dominican pesos) due in 2037 at a 10.50% interest
rate;

-- A US$2.0 billion bond due in 2037 at a 6.95% interest rate;
and

-- A US$1.0 billion bond due in 2055 at a 7.15% interest rate.

The ratings on the bonds are the same as the long-term foreign
currency sovereign credit rating on the Dominican Republic
(BB/Stable/B). The country used about 50% of the proceeds to roll
over bonds maturing in 2026, and will use the rest of the proceeds
for general budgetary purposes.

S&P said, "Our 'BB' long-term ratings on the Dominican Republic
reflect the country's fast-growing economy, which, despite its
vulnerability to external shocks, has proven to recover quickly in
the aftermath. The ratings also incorporate the Dominican
Republic's historical challenges in passing structural reforms to
reduce fiscal deficits, coupled with the decision to withdraw a
proposed fiscal reform in October 2024. The rating weaknesses are
relatively moderate debt (around 55% of GDP in net terms), a hefty
interest burden (20% of government revenue), and limited monetary
policy flexibility.

"The stable outlook reflects our expectation that the very dynamic
economy and policy continuity in the next 12-18 months will
mitigate the risks of moderate fiscal deficits and limited
budgetary flexibility."




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

JAMAICA: BOJ Accepts 44 Bids for its $5.5BB Certificate of Deposit
------------------------------------------------------------------
RJR News reports that the Bank of Jamaica says 227 bids were
submitted totaling $28.28 billion for the $5.5 billion dollar,
6.25% per annum certificate of deposit it floated.

The BOJ floated the instrument as part of efforts to help stabilize
the dollar at between J$158 and J$160 to US$1, according to RJR
News.

But the bank accepted only 44 bids for the $5.5 billion it offered
to the public, the report notes.

The average yield for successful bids was 5.77% per annum; the
highest bid was 9% per annum for $500 million and the lowest bid
was 5.50% per annum for $1.62 billion, the report adds.

                       About Jamaica

Jamaica is an island country situated in the Caribbean Sea. Jamaica
is an upper-middle income country with an economy heavily dependent
on tourism.  Other major sectors of the Jamaican economy include
agriculture, mining, manufacturing, petroleum refining, financial
and insurance services.

In October 2023, Moody's upgraded the Government of Jamaica's
long-term issuer and senior unsecured ratings to B1 from B2, and
senior unsecured shelf rating to (P)B1 from (P)B2. The outlook has
been changed to positive from stable.  In September 2023, S&P
Global Ratings raised its long-term foreign and local currency
sovereign credit ratings on Jamaica to 'BB-' from 'B+', and
affirmed its short-term foreign and local currency sovereign credit
ratings at 'B', with a stable outlook.  In September 2024, S&P
affirmed 'BB-/B' sovereign ratings on Jamaica and revised outlook
to positive.  In March 2022, Fitch Ratings affirmed Jamaica's
Long-Term Foreign Currency Issuer Default Rating (IDR) at 'B+'.
The Rating Outlook is Stable.




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

ZAGACITY TECH: Unsecured Creditors to Split $25,000 in Plan
-----------------------------------------------------------
Zagacity Tech LLC filed with the U.S. Bankruptcy Court for the
District of Puerto Rico an Amended Disclosure Statement describing
Amended Plan of Reorganization dated February 7, 2025.

The Debtor is a limited liability company organized in the
Commonwealth of Puerto Rico since December 12, 2015. In 2016, Zaga
started business operations to sell electronic merchandise and
household appliances wholesale to various stores, including
smalltown furniture stores.

Mr. Nestor Cardona is the Debtor President and remains the 100%
shareholder of the Debtor.

Upon filing its voluntary petition for relief under Chapter 11 of
the Bankruptcy Code on November 17, 2023, the Debtor has continued
to operate its business and manage its properties as debtor in
possession pursuant to Sections 1107(a) and 1108 of the Bankruptcy
Code. Since the date of filing, Debtor acts as Debtor in-possession
and focuses all its efforts in developing all available means to
fund its Reorganization Plan to provide for payments to creditors
in such plan. No trustee, examiner, or statutory committee has been
appointed in this Chapter 11 Case.

After demonstrating progress in its reorganization efforts, the
Court granted an extension of the exclusivity period for filing the
Disclosure Statement and Plan until October 27, 2024. In parallel
with these developments, the Debtor has successfully negotiated
post-petition financing ("DIP Financing") with Parliament Funding
in the amount of $1,000,000 and the same was approved by the
Bankruptcy Court on November 14, 2024. This critical financial
support will enable the Debtor to restore its sales volume through
the acquisition of new inventory and provide essential working
capital to support and restart the operations.

The approval of the DIP Financing was crucial for the estate and
its creditors, as it provides the necessary feasibility for
confirming a viable Chapter 11 Plan of Reorganization. Without this
financing, the estate would have faced significant challenges in
confirming a viable Plan, potentially forcing creditors to pursue
their remedies in state court. The implementation of the DIP
Financing represents a critical step in the Debtor's reorganization
strategy, providing the liquidity necessary to support ongoing
operations and ensure the successful execution of the Plan.

Class 4 consists of all allowed general unsecured claims against
the Debtor. The General Unsecured claims approximately amount to a
total of $3,375,690 and the allowed amount of $2,780,644.00. The
Debtor's plan provides for a lump sum payment of $25,000.00 on a
pro-rata basis payable at the effective date. This Class is
impaired.

Class 5 consists of Insider and Equity Security Holders,
specifically including the claim of Nestor Cardona in the amount of
$55,000.00. The Debtor's plan proposes a 0% distribution to the
Insiders and Equity Security Holders.  

The Plan will be funded through a combination of DIP financing and
income generated from the Debtor's ongoing business operations. The
Debtor has secured post-petition financing from Parliament Funding
in the amount of $1,000,000 that has been approved by the
Bankruptcy Court, which will provide necessary working capital to
support operations and Plan payments.

This DIP financing, combined with revenue from continued business
operations and any proceeds of lawsuits and/or adversary
proceeding, will enable the Debtor to make all payments required
under the Plan.

A full-text copy of the Amended Disclosure Statement dated February
7, 2025 is available at https://urlcurt.com/u?l=CIjmha
fromPacerMonitor.com at no charge.

Zagacity Tech, LLC, is represented by:

      Javier Vilarino, Esq.
      Vilarino & Associates, LLC
      P.O. Box 9022515
      San Juan, PR 00902-2515
      Telephone: (787) 565-9894
      Email: jvilarino@vilarinolaw.com

                       About Zagacity Tech

Zagacity Tech LLC distributes and sells technological products,
home appliances, audio and TV, in the home and commercial lines.

Zagacity Tech LLC filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D.P.R. Case No. 23-03787)
on Nov. 17, 2023. The petition was signed by Nestor G. Cardona as
president. At the time of filing, the Debtor estimated $1 million
to $10 million in both assets and liabilities.

The Debtor tapped Javier Vilarino, Esq., at Vilarino & Associates
LLC as counsel and Albert Tamarez Vasquez, CPA, at Tamarez CPA,
LLC, as accountant.




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

TRINIDAD & TOBAGO: Inflation Remains Under One Per Cent
-------------------------------------------------------
Roberto Codallo at Trinidad and Tobago Newsday reports that the
Central Statistical Office (CSO) reported that the rate of
inflation in T&T for January 2025 was 0.7 per cent.

In a news release, the CSO said the inflation rate for the
comparative period (January 2024/January 2023) was 0.3 per cent,
according to Trinidad and Tobago Newsday.

The statistical body said the 0.7 per cent inflation rate for
January 2025 represents an increase from the previous period
(December 2024/December 2023) of 0.5 per cent, the report notes.

The CSO explained that the current inflation rate measures the
percentage change in the all items index for the month of January
2025 over January 2024, the report relays.

The all items index calculated from the prices collected for the
month of January 2025 was 124.9, representing an increase of 0.2
points or 0.2 per cent above the All Items Index for December 2024,
the report notes.

The index for food and non-alcoholic beverages increased from 152.4
in December 2024 to 153.2 in January 2025, reflecting an increase
of 0.5 per cent, said the CSO, the report says.

"Contributing significantly to this increase was the general upward
movement in the prices of cucumber, fresh carite, ochroes, pumpkin,
pimento, garlic, fresh king fish, frozen whole chicken, soya bean
oil and cabbage, the report discloses, the report relays.

"However, the full impact of these price increases was offset by
the general decreases in the prices of tomatoes, fresh whole
chicken, Irish potatoes, oranges, carrots, green sweet peppers,
eggs, ice cream, onions and celery, the report notes.

"A further review of the data for January 2025 compared with
December 2024 reflected increases in the sub-indices for alcohol
and tobacco of 0.3 per cent, clothing and footwear of 0.3 per cent,
health of 0.1 per cent, transport of 0.1 per cent, recreation and
culture of 0.3 per cent, hotels, cafés and restaurants of 0.1 per
cent and miscellaneous good and services of 0.4 per cent," said the
CSO, the report says.

This period also showed a decrease in the sub-index for
furnishings, household equipment and routine maintenance of the
house of -0.4 per cent. All other sections remained unchanged, the
report notes.

The government statistical agency indicated that rate of increase
in the prices of food and non-alcoholic prices between January 2024
and January 2025 was 3.93 per cent, with the index increasing from
147.4 in January 2024 to 153.2 in January 2025, the report
discloses.

In the December monetary police announcement, the Central Bank
said, "Headline inflation remained very low, and was recorded at
0.5 per cent in November, up from 0.2 per cent in the previous
month. Core inflation, which excludes food prices, was unchanged at
-0.3 per cent while food inflation rose to 3.1 per cent from 2.4
per cent over the two-month period," the report adds.




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

[] BOND PRICING: For the Week from Feb. 17 to Feb. 21, 2025
-----------------------------------------------------------
Issuer Name          Cpn   Price  Maturity        Cntry  Curr
-----------          ---   -----  --------        -----  ----
Aeropuerto Internacional 5.13  71.62   8/11/2061    PA    USD
Aeropuerto Internacional 4  75.41   8/11/2041    PA    USD
Aeropuerto Internacional 5.13  71.7    8/11/2061    PA    USD
Aeropuerto Internacional 4  75.33   8/11/2041    PA    USD
Aguas Do Rio 1 Spe SA  7.69   0.96   9/15/2042    BR    BRL
Aguas Do Rio 1 Spe SA  7.36   0.99   9/15/2034    BR    BRL
Aguas Do Rio 1 Spe SA  6.9   9.82   1/15/2034    BR    BRL
Aguas Do Rio 1 Spe SA  7.2   8.81   1/15/2042    BR    BRL
Alfa Desarrollo SpA  4.55  74.7  9/27/2051    CL    USD
Alfa Desarrollo SpA  4.55  74.66   9/27/2051    CL    USD
Alibaba Group Holding    3.15  66.06   2/9/2051     KY    USD
Alibaba Group Holding    2.7  69.08   2/9/2041     KY    USD
Alibaba Group Holding    3.25  63.14   2/9/2061     KY    USD
AMTD IDEA Group          1.5   7.5               KY    USD
AMTD IDEA Group          4.5  56.39               KY    SGD
Argentina Bonar Bonds  1  67.91   7/9/2029     AR    USD
Argentina Treasury Bond  3.3     45.8    4/30/2024    AR    USD
Argentine Int'l Bond  0.13  72.92   7/9/2030     AR    EUR
Ascent Finance Ltd  3.78  62.13   6/28/2047    KY    AUD
Ascent Finance Ltd  3.4  62.17   2/6/2043     KY    AUD
Ascent Finance Ltd  1.19  59.9  7/12/2047    KY    EUR
Astra Cumulative         1.5  66.73  11/1/2029     KY    USD
At Home Cayman         11.5  70.06   5/12/2028    KY    USD
At Home Cayman         11.5  66.6  5/12/2028    KY    USD
Athon Geracao            7.33   0.97   9/15/2041    BR    BRL
Athon Geracao            7.33   0.98   9/15/2041    BR    BRL
AYC Finance Ltd          3.9  63.25               KY    USD
Banco de Chile          3.12  70.88   2/21/2040    CL    AUD
Banco de Chile          2.8  67.53   3/13/2040    CL    AUD
Banco Santander          3.05  69.55   2/28/2039    CL    AUD
Banda de Couro S/A  7.96  38.14   1/15/2027    BR    BRL
Baraunas II              7.96   9.72   1/15/2027    BR    BRL
Bishopsgate Ltd          4.81  67.29   8/14/2044    KY    GBP
Bolivian Int'l Bond  4.5  62.65   3/20/2028    BO    USD
Bolivian Int'l Bond  7.5  63   3/2/2030    BO    USD
Bolivian Int'l Bond  4.5  62.56   3/20/2028    BO    USD
Bolivian Int'l Bond  7.5  63.07   3/2/2030     BO    USD
Brasol Participacoes    13.15   1.03   6/27/2027    BR    BRL
Brazilian Int'l Bond  4.8  70.53   1/14/2050    BR    USD
BRQ Solucoes EM         13.15  42.02   3/18/2025    BR    BRL
Caja de Ahorros          3.65  72.06  12/22/2031    PA    USD
CFLD Cayman Investment   2.5   4.1  1/31/2031    KY    USD
CFLD Cayman Investment   2.5   4.84   1/31/2031    KY    USD
CFLD Cayman Investment   2.5   3.07   1/31/2031    KY    USD
CFLD Cayman Investment   2.5   4.1  1/31/2031    KY    USD
CFLD Cayman Investment   2.5   4.91   1/31/2031    KY    USD
CFLD Cayman Investment   2.5   4.91   1/31/2031    KY    USD
CFLD Cayman Investment   2.5   4.14   1/31/2031    KY    USD
CFLD Cayman Investment   2.5   3.07   1/31/2031    KY    USD
CFLD Cayman Investment   2.5   3.07   1/31/2031    KY    USD
Chile Int'l Bond  3.5  69.98   1/25/2050    CL    USD
Chile Int'l Bond  4  75.74   1/31/2052    CL    USD
Chile Int'l Bond  3.25  59.92   9/21/2071    CL    USD
Chile Int'l Bond  3.86  75.66   6/21/2047    CL    USD
Chile Int'l Bond  3.1  72.57   5/7/2041     CL    USD
Chile Int'l Bond  3.1  59.8  1/22/2061    CL    USD
Chile Int'l Bond  3.5  68.64   4/15/2053    CL    USD
Chile Int'l Bond  1.25  70.14   1/29/2040    CL    EUR
Chile Int'l Bond  1.25  56.4  1/22/2051    CL    EUR
CK Hutchison             3.38  72.54   9/6/2049     KY    USD
CK Hutchison 19 II Ltd  3.38  72.71   9/6/2049     KY    USD
CK Hutchison 20 Ltd  3.38  72.46   5/8/2050     KY    USD
CK Hutchison 20 Ltd  3.38  72.37   5/8/2050     KY    USD
Colombia Int'l Bond  5  69.42   6/15/2045    CO    USD
Colombia Int'l Bond  3.88  54.03   2/15/2061    CO    USD
Colombia Int'l Bond  4.13  58.78   5/15/2051    CO    USD
Colombia Int'l Bond  5.2  69.16   5/15/2049    CO    USD
Colombia Int'l Bond  5.63  75.39   2/26/2044    CO    USD
Colombia Int'l Bond  4.13  64.74   2/22/2042    CO    USD
Colombia Int'l Bond  7.25  59.83  10/26/2050    CO    COP
Colombia Int'l Bond  6.25  65.57   7/9/2036     CO    COP
Colombia Int'l Bond  6.25  65.57   7/9/2036     CO    COP
Colombia Int'l Bond  7.25  59.83  10/26/2050    CO    COP
Colombian TES          6.3  65.21   7/9/2036     CO    COP
Colombian TES          7.3  59.62  10/26/2050    CO    COP
CODELCO                  3.15  60.47   1/15/2051    CL    USD
CODELCO                  3.15  60.43   1/15/2051    CL    USD
CODELCO                  3.7  66.98   1/30/2050    CL    USD
CODELCO                  3.7  66.96   1/30/2050    CL    USD
CODELCO                  3.58  74.6  7/22/2039    CL    AUD
Eco Securitizadora   5   0  7/15/2025    BR    BRL
Ecopetrol SA          5.9  71.27   5/28/2045    CO    USD
Ecopetrol SA          5.88  68.44  11/2/2051     CO    USD
eHi Car Services Ltd    12  67.92   9/26/2027    KY    USD
eHi Car Services Ltd  7  70.39   9/21/2026    KY    USD
El Salvador Int'l Bond  0.25   1.99   4/17/2030    SV    USD
El Salvador Int'l Bond  0.25   1.97   4/17/2030    SV    USD
Elektra Noreste SA  3.87  72.89   7/15/2036    PA    USD
Elektra Noreste SA  3.87  72.89   7/15/2036    PA    USD
Embotelladora Andina SA  3.95  74.85   1/21/2050    CL    USD
Embotelladora Andina SA  3.95  74.98   1/21/2050    CL    USD
Embotelladora Andina SA  6.5  14.43   6/1/2026     CL    CLP
EFE                  3.07  58.52   8/18/2050    CL    USD
EFE                  3.83  64.05   9/14/2061    CL    USD
EFE                  3.07  58.59   8/18/2050    CL    USD
EFE                  6.5  5.59  1/1/2026     CL    CLP
EFE                  3.83  64.02   9/14/2061    CL    USD
ETESA                  5.13  72.51   5/2/2049     PA    USD
ETESA                  5.13  72.98   5/2/2049     PA    USD
Metro                    3.69  64.73   9/13/2061    CL    USD
Metro                    3.69  64.81   9/13/2061    CL    USD
Metro                    5.5  36.07   7/15/2027    CL    CLP
ENA Master Trust  4  74.24   5/19/2048    PA    USD
ENA Master Trust  4  74.29   5/19/2048    PA    USD
Enel Generacion Chile    6.2  24.11  10/15/2028    CL    CLP
Equatorial Goias        13.62   1.07  10/15/2029    BR    BRL
Equatorial Para         13.86   1.04   5/15/2028    BR    BRL
Esval SA          3.5   6.74   2/15/2026    CL    CLP
Exata Participacoes16  1.3          8/15/2028    BR    BRL
Exata Participacoes16  1.3          8/15/2028    BR    BRL
Fospar S/A          6.53   1  5/15/2026    BR    BRL
Generacion Mediterranea  6.5   0.01   7/28/2026    AR    ARS
General Shopping        10  63.57        KY    USD
General Shopping        10  64               KY    USD
Genneia SA          2  73.3  7/14/2028    AR    USD
Greenland HK            10.21  15.14               KY    USD
Grupo Casas Bahia       13.94   1.03  11/28/2030    BR    BRL
Grupo Casas Bahia       13.95   1.04  11/28/2029    BR    BRL
Grupo Casas Bahia       13.94   1.03  11/28/2030    BR    BRL
Herbalife Ltd          4.25  70.75   6/15/2028    KY    USD
ICBC DO Brasil           3.3  60.07               BR    USD
Kanastra-1 Co           14.65   1.05  10/11/2027    BR    BRL
Lani Finance Ltd  3.14  63.49  10/19/2048    KY    AUD
Lani Finance Ltd  1.7  67.18   3/14/2049    KY    EUR
Lani Finance Ltd  1.85  69.57   9/20/2048    KY    EUR
Lani Finance Ltd  1.92  70.62  10/19/2048    KY    EUR
Lani Finance Ltd  2.87  61.86   4/23/2048    KY    AUD
Light Servicos           4.21  45 12/19/2032    BR    USD
Link Finance Cayman      2.18  74.38  10/27/2038    KY    HKD
LIPSA Srl          2.99  0.01    8/23/2025    AR    USD
Logan Group Co Ltd  7  4.01               KY    USD
Longfor Group Holdings   3.85  70.09   1/13/2032    KY    USD
Luminis III Ltd          2.32  48.21   9/22/2048    KY    USD
Luminis III Ltd          2.42  52.99   9/22/2048    KY    AUD
Luminis IV Ltd          3.15  68.91   1/22/2042    KY    AUD
Luminis Ltd          2.31  52.44   9/22/2048    KY    AUD
Lunar Funding I Ltd  1.66  65.52   8/11/2056    KY    GBP
Marfrig Global Foods    14.07   0.91  11/7/2028     BR    BRL
Mizuho Markets Cayman   18.21  35.03   1/22/2026    KY    USD
MTR Corp CI Ltd          3.38  75.38   6/2/2046     KY    USD
MTR Corp CI Ltd          3.38  75.36   6/15/2046    KY    USD
New World China Land     4.8  63.23   1/23/2027    KY    USD
NIO Inc                  3.88  74.03  10/15/2029    KY    USD
NIO Inc                  4.63  72.75  10/15/2030    KY    USD
Panama Gov't Int'l Bond  3.87  55.26   7/23/2060    PA    USD
Panama Gov't Int'l Bond  4.5  62.65   4/1/2056     PA    USD
Panama Gov't Int'l Bond  4.5  64.69   4/16/2050    PA    USD
Panama Gov't Int'l Bond  2.25  72.66   9/29/2032    PA    USD
Panama Gov't Int'l Bond  4.5  61.42   1/19/2063    PA    USD
Panama Gov't Int'l Bond  4.3  62.36   4/29/2053    PA    USD
Panama Gov't Int'l Bond  4.5  66.9  5/15/2047    PA    USD
Peruvian Int'l Bond  2.78  54.49  12/1/2060     PE    USD
Peruvian Int'l Bond  3.55  68.81   3/10/2051    PE    USD
Peruvian Int'l Bond  3.3  73.3  3/11/2041    PE    USD
Peruvian Int'l Bond  3.23  54.23   7/28/2121    PE    USD
Peruvian Int'l Bond  3.6  62.26   1/15/2072    PE    USD
Petroleos del Peru SA  5.63  65.05   6/19/2047    PE    USD
Petroleos del Peru SA  5.63  65.01   6/19/2047    PE    USD
Petrolera Energia SA  5.5   0.01   1/23/2026    AR    USD
Provincia de Cordoba  7.13  24.79  10/27/2026    AR    USD
Provincia de la Rioja  7.5  57.26   7/20/2032    AR    USD
Provincia del Chaco      4   0.01  12/4/2026     AR    USD
Prumo Logistica SA  6.97   1.07   1/15/2026    BR    BRL
Prumo Logistica SA  6.97   1.04   1/15/2032    BR    BRL
Prumo Logistica SA  6.97   1.07   1/15/2028    BR    BRL
QNB Finance Ltd          2.85  74.46  12/4/2035     KY    AUD
QNB Finance Ltd          3.36  70.53  10/21/2039    KY    AUD
Rech Agricola S/A 14.15   1.     1/1/2030     BR    BRL
Silk Road Investments    2.85  66.55   1/23/2042    KY    AUD
Skylark Ltd          1.77  58.95   4/4/2039     KY    GBP
Autopista Central  5.3  25.55  12/15/2026    CL    CLP
Vespucio Norte Express   5.3  40.88  12/15/2028    CL    CLP
SQM                  3.5  65.59   9/10/2051    CL    USD
SQM                      3.5  65.78  9/10/2051    CL    USD
Southern Water           3  68.55  5/28/2037    KY    GBP
SPE Saneamento Rio 4 SA  7.69   0.96  9/15/2042    BR    BRL
SPE Saneamento Rio 4 SA  6.9   9.88  1/15/2034    BR    BRL
SPE Saneamento Rio 4 SA  7.36   0.99  9/15/2034    BR    BRL
SPE Saneamento Rio 4 SA  7.2   9.21  1/15/2042    BR    BRL
Special Grains SA        3.8   0.01 11/5/2025     AR    USD
Sylph Ltd          2.66  67.67   3/25/2036    KY    USD
Sylph Ltd          2.37  63.19   9/25/2036    KY    USD
Telefonica del Peru      7.4  55.96   4/10/2027    PE    PEN
Telefonica del Peru      7.38  55.96   4/10/2027    PE    PEN
Tencent Holdings  3.29  63.87   6/3/2060     KY    USD
Tencent Holdings  3.24  67.32   6/3/2050     KY    USD
Tencent Holdings  3.84  74.93   4/22/2051    KY    USD
Tencent Holdings  3.94  73.45   4/22/2061    KY    USD
Tencent Holdings  3.84  75.06   4/22/2051    KY    USD
Tencent Holdings  3.24  67.46   6/3/2050     KY    USD
Tencent Holdings  3.29  63.92   6/3/2060     KY    USD
Tencent Holdings  3.94  73.42   4/22/2061    KY    USD
Three Gorges Finance     3.2  73.94  10/16/2049    KY    USD
Travessia               13.29  35 10/7/2030     BR    BRL
Travessia         13.15   1.01   4/27/2029    BR    BRL
Travessia         13.15   1.01   4/27/2029    BR    BRL
Travessia         13.15   1.03   4/27/2029    BR    BRL
Travessia         13.15   0.18   4/27/2029    BR    BRL
Travessia de Creditos    9   1.61   1/20/2032    BR    BRL
True Securitizadora     13.15  70.25   3/25/2030    BR    BRL
Uruguay Notas del        2.45  68.83   1/27/2037    UY    UYU
Uruguay Notas del        1.8  70.16   8/29/2033    UY    UYU
Uruguay Notas del        2.2  57.11   5/13/2040    UY    UYU
Uruguay Notas del        2.25  68.73   7/20/2036    UY    UYU
Uruguay Notas del        2  47.77   9/1/2047     UY    UYU
Vert                    13.32  22.88   4/16/2029    BR    BRL
Virgo Cia De             6.97   0.93   6/5/2038     BR    BRL
Virgo Cia De            14.39   1.66   6/5/2038     BR    BRL
Virgo Cia De            14.39   1.66   6/5/2038     BR    BRL
Vortex Opco LLC          8  33.73   4/30/2030    KY    USD
Vortex Opco LLC          8  33.97   4/30/2030    KY    USD
Zhongliang Holdings      5   6.82   7/1/2027     KY    USD
Zhongliang Holdings      5   6.62   7/1/2027     KY    USD
Zhongliang Holdings      5   6.62   7/1/2027     KY    USD



                           *********


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 2025.  All rights reserved.  ISSN 1529-2746.

This material is copyrighted and any commercial use, resale or
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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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