TCR_Public/170309.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Thursday, March 9, 2017, Vol. 21, No. 67

                            Headlines

2260 EAST MAIN: Seeks to Hire COBE Real Estate as Broker
250 PIXLEY: Names Raymond Stilwell as Counsel
A&D PROPANE: Case Summary & 20 Largest Unsecured Creditors
AFTOKINITO RALLY: Seeks to Hire Sheehan Phinney as Legal Counsel
ALGOZINE MASONRY: Hires Rowley & Company as Accountant

AMERICAN AXLE: Fitch Assigns BB- Rating to $1.2BB Unsecured Notes
AMERICAN AXLE: Moody's Rates $1.2BB Sr. Unsecured Notes 'B2'
AMERICAN RESIDENTIAL: Moody's Assigns B1 Rating to $295MM Loan
ATLANTIC CITY, NJ: S&P Raises Rating on GO Debt to 'CCC'
AVAYA INC: Enters Into Asset Purchase Agreement with Extreme

B & B FAMILY: Hires Keepbooking as Bookkeeper
B & B FAMILY: May Use Cash Collateral Through April 30
BEATRICE COMMUNITY: Fitch Affirms BB+ on $30MM HealthCare Bonds
BEAZER HOMES: Fitch Rates $250MM Sr. Unsecured Notes at 'B-/RR4'
BEAZER HOMES: Moody's Rates $250MM Sr. Unsecured Notes B3

BEAZER HOMES: S&P Assigns 'B-' Rating on Proposed $250MM Sr. Notes
BIOSCRIP INC: Raises $5 Million from Private Placement
BLISS OF NJ: Names Leonard Rabinowitz as Accountant
BPS US HOLDINGS: Wants Exclusive Plan Filing Extended to May 29
BUMBLE BEE: S&P Lowers CCR to 'CCC' on Sharp Refinancing Risk

CALIFORNIA PROTON: Has Interim Nod to Obtain $32M in Financing
CARIBBEAN CREAMERY: Final Hearing on Plan Set for April 4
CARRINGTON FARMS: Hires William Gannon as General Counsel
CENTRAL PLATTE: Fitch Affirms BB Rating on $21.9MM GO Bonds
CHC GROUP: Bankruptcy Court Confirms Reorganization Plan

CHESAPEAKE ENERGY: Incurs $4.92 Billion Net Loss in 2016
CHS/COMMUNITY HEALTH: Fitch Assigns BB Rating to $1.75BB Notes
CHS/COMMUNITY HEALTH: Moody's Assigns Ba3 Rating to $1.75BB Notes
CHS/COMMUNITY HEALTH: S&P Assigns BB- Rating on $1.75BB Sr. Notes
COMMUNITY HOME: Edwards & Beher Drop Bid to Prohibit Cash Use

CONCORDIA INTERNATIONAL: Comments on CMA SO re: Hydrocortisone
CORPORATE CAPITAL: Fitch Affirms BB+ Long-term IDR
COSI INC: May Use Cash Collateral Through April 25
COTT HOLDINGS: S&P Assigns 'B-' Rating on New $650MM Unsec. Notes
CRESTWOOD MIDSTREAM: Moody's Assigns B1 Rating to $500MM Sr. Notes

CRESTWOOD MIDSTREAM: S&P Rates Proposed Sr. Unsecured Notes 'BB-'
CRYSTAL ENTERPRISES: Taps Ralph A. Somma as Labor Case Counsel
CUMULUS MEDIA: Director Alexis Glick Will Retire from Board
CUMULUS MEDIA: Director Alexis Glick Will Retire From Board
DAKOTA PLAINS: Closes $10.85M Sale Transaction with BioUrja

DAUFUSKIE EMBARKMENT: Case Summary & 9 Unsecured Creditors
DE-TECH COLLISION: Asks Court to Approve Additional CSM Services
DEWEY & LEBOEUF: Ex-Barclays Manager Says Scant Info Ended Pact
DEWEY & LEBOEUF: JPMorgan, et al., Willing to Lend Firm Millions
DOUBLE J FARMS: Case Summary & Unsecured Creditor

DUPONT FABROS: S&P Raises CCR to 'BB' on Better Credit Metrics
EASTERN OUTFITTERS: Hires Lincoln Partners as Investment Banker
ECLIPSE RESOURCES: Extends Bank of Montreal Credit Facility to 2020
ELDORADO RESORTS: Moody's Hikes Corporate Family Rating to B1
EM LODGINGS: U.S. Trustee Unable to Appoint Committee

ENDLESS SALES: Hires Kutner Brinen as Attorneys
EQUINIX INC: Fitch Assigns BB Rating to New Sr. Unsecured Notes
EQUINIX INC: Moody's Assigns B1 Rating to $1.1BB Unsecured Notes
EQUINIX INC: S&P Affirms 'BB+' CCR; Outlook Stable
ERICKSON INC: Begins Solicitation of Votes for Reorganization Plan

EURO BOUTIQUE: Hires Luis Flores Gonzalez as Legal Counsel
EXCO RESOURCES: Wilbur Ross Quits to Join Trump Administration
F.I.G BEACH CLUB: Case Summary & 10 Unsecured Creditors
F.I.G. BEACH COTTAGES: Case Summary & 3 Unsecured Creditors
F.I.G. DAUFUSKIE: Case Summary & 12 Unsecured Creditors

FANNIE MAE: Judge Sleet Rejects FHFA's Succession Assertions
FANSTEEL INC: Court Rejects Panel's Bid to Terminate Exclusivity
FANSTEEL INC: Seeks More Time to Confirm Plan Thru June 10
FIAC CORP: Panel Hires Higgs & Johnson as Special Counsel
FLAGLER INSTITUTE: Taps Brett Elam as Attorney

FRESH ICE CREAM: Wants To Use FICC Lender & SOS Capital's Cash
FYNDERS INC: Case Summary & 20 Largest Unsecured Creditors
GENERAL WIRELESS: RadioShack Stores Still Open for Business
GLOBAL COMMODITY: Case Summary & Unsecured Creditor
GOING VENTURES: Case Summary & 20 Largest Unsecured Creditors

GORDMANS STORES: Said to Prepare for Bankruptcy Filing
GREEKTOWN HOLDINGS: Moody's Hikes Corporate Family Rating to B2
GREEN JANE: Case Summary & 20 Largest Unsecured Creditors
GRIMMETT BROTHERS: Disclosures OK'd; Plan Hearing on April 26
HAIMARK LINE: Disclosures OK'd; Plan Hearing on April 26

HARMAC CORP: Disclosures OK'd; Plan Hearing on March 30
HCSB FINANCIAL: Posts 2016 Net Income of $20 Million
HELLO NEWMAN: Trustee Taps Togut Segal as Legal Counsel
HEXION INC: Reports $97 Million Fourth Quarter Net Loss
HILTON WORLDWIDE: Moody's Rates New $1.5BB Unsecured Notes 'Ba3'

HILTON WORLDWIDE: S&P Rates Proposed $1.5BB Unsecured Notes 'BB+'
HUB HOLDINGS: Moody's Affirms B3 Corporate Family Rating
HUB INTERNATIONAL: S&P Affirms 'B' LT CCR After Loan Add-On
HUMBLE SURGICAL: Regions Wants to Intervene in Insurance Fraud Suit
IAMGOLD CORP: S&P Raises CCR to 'B+' on Strong Credit Metrics

JIM HANKINS AIR: Taps Craig M. Geno as Legal Counsel
KAARS INC: Disclosures Conditionally OK'd; Plan Hearing on March 29
KEEPERS INC: Case Summary & 20 Largest Unsecured Creditors
KENTISH TRANSPORTATION: Seeks to Hire Mason Bearden as Accountant
KHWY INC: Cash Use Deal With Secured Creditor Approved

LENEXA HOTEL: Wants Plan Exclusivity Period Extended Thru May 30
LINEAGE LOGISTICS: Moody's Affirms B3 Corporate Family Rating
MAXUS ENERGY: Occidental Chemical Tries to Block Disclosures OK
MEMORIAL PRODUCTION: Disclosures OK'd; Plan Hearing on April 4
MF GLOBAL: Faces Off with PwC as $3-Bil. Malpractice Suit Begins

MODULAR SPACE: Completes Financial Restructuring, Exits Chapter 11
MOSAIC MANAGEMENT: Seeks March 15 Plan Exclusivity Extension
NAVISTAR INTERNATIONAL: MHR Has 16.6% Equity Stake as of March 1
NAVISTAR INTERNATIONAL: Promotes Persio Lisboa to EVP and COO
NORTHERN OIL: Incurs $293.5 Million Net Loss in 2016

PEABODY ENERGY: Agrees to Collateral for Mine Cleanup Costs
PEABODY ENERGY: Unveils Plans for U.S. Reclamation Assurances
PUERTAS DE GARAGE: April 4 Plan Confirmation Hearing
QUANTUM CORP: Signs Pact with VIEX Capital to Reconstitute Board
QUANTUM CORP: VIEX Capital Has 11% Stake as of March 2

RA HOLDING: Has $9.59M Total Income for 6 Months Ended Dec. 31
REPUBLIC AIRWAYS: Wells Fargo, ALF VI Object to Proposed Plan Order
RESOLUTE ENERGY: Will Buy Properties in Delaware Basin for $160M
SAILING EMPORIUM: Seeks to Hire Gary T. Mott as Accountant
SCIENTIFIC GAMES: Appoints Michael Winterscheidt as CAO

SCIENTIFIC GAMES: Incurs $353.7 Million Net Loss in 2016
SCIENTIFIC GAMES: May Issue 100,000 Class A Shares to COO & Pres.
SKYLINE CORP: Inks Real Estate Purchase Pact with Champion Home
SOUTHWEST CUTTERS: May Use Cash Collateral Until May 5
SPRINT CORP: S&P Affirms 'B' Corp. Credit Rating

SUNEDISON INC: Brookfield to Take Over TerraForm Companies
TERESA GIUDICE: Wants Malpractice Ruling Against Ex-Counsel Upheld
TERRAFORM POWER: Brookfield to Acquire Controlling Stake
TOLL BROTHERS: Moody's Rates $300MM Sr. Unsecured Notes 'Ba1'
TOWERSTREAM CORP: Has New Plan to Address Rising Bandwidth Demands

TRAPPERS RENDEZVOUS: Case Summary & Top Unsecured Creditors
TRIANGLE USA: Caliber Measurement, Et Al. Try to Block Plan Okay
TUSCANY ENERGY: Wants Solicitation Period Extended Thru April 14
ULURU INC: Centric Capital Reports 0.9% Stake as of Feb. 27
ULURU INC: Michael Sacks Reports 39% Equity Stake as of Feb. 27

VIGNAHARA LLC: First Western Tries to Block Plan Confirmation
VINCHEM USA: Case Summary & 3 Unsecured Creditors
VULCAN MATERIALS: Moody's Ups Sr. Unsecured Debt Ratings From Ba1
ZIONS BANCORP: Fitch to Withdraw Ratings for Commercial Reasons
ZUOAN FASHION: U.S. Shareholders Seek to Recover Investor Funds

[*] Jones Day NY Adds Richard Nugent as Partner in Tax Practice
[^] Recent Small-Dollar & Individual Chapter 11 Filings

                            *********

2260 EAST MAIN: Seeks to Hire COBE Real Estate as Broker
--------------------------------------------------------
2260 East Main Street, LLC seeks approval from the U.S. Bankruptcy
Court for the Central District of California to hire a real estate
broker.

The Debtor proposes to hire COBE Real Estate, Inc. in connection
with the sale of its 417,771 square-foot property in Mesa, Arizona.
The property is being leased to Desert Autoplex.

COBE will receive a 4% commission to be split with any buyer's
broker.

Bradley Broyles, senior advisor at COBE, disclosed in a court
filing that his firm does not hold any interest adverse to the
Debtor, and is a "disinterested person" as defined in section
101(14) of the Bankruptcy Code.

The firm can be reached through:

     Bradley Broyles
     COBE Real Estate, Inc.
     2152 South Vineyard, Suite 116
     Mesa, AZ 85210
     Phone: 480-610-2400
     Fax: 480-610-2407

The Debtor is represented by:

     Robert P. Goe, Esq.
     Marc C. Forsythe, Esq.
     Donald W. Reid, Esq.
     Charity J. Miller, Esq.
     Goe & Forsythe, LLP
     18101 Von Karman Avenue, Suite 1200
     Irvine, CA 92612
     Email: rgoe@goeforlaw.com
     Email: mforsythe@goeforlaw.com
     Email: dreid@goeforlaw.com
     Email: cmiller@goeforlaw.com
     Tel: (949) 798-2460
     Fax: (949) 955-9437

                   About 2260 East Main Street

2260 East Main Street, LLC sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. C. D. Calif. Case No. 17-10571) on
February 16, 2017.  The petition was signed by Brent McMahon,
managing member.  The case is assigned to Judge Mark S. Wallace.

At the time of the filing, the Debtor estimated its assets and
debts at $1 million to $10 million.


250 PIXLEY: Names Raymond Stilwell as Counsel
---------------------------------------------
250 Pixley Road LLC seeks authorization from the Hon. Paul R.
Warren of the U.S. Bankruptcy Court for the Western District of New
York to employ Raymond C. Stilwell as counsel.

The Debtor requires Mr. Stilwell to:

   (a) give the Debtor legal advice with regard to its powers and
       duties as Debtor-In-Possession in the continued operation
       of its business and in the management of its property;

   (b) take necessary action to avoid liens against the Debtor's
       property, remove restraints against the Debtor's property
       and such other actions to remove any encumberances or liens

       which are avoidable;

   (c) take necessary action to enjoin and stay until final  
       decree any attempts by creditors to enforce claims upon
       property of the Debtor which may be necessary to the
       Debtor's effective organization;

   (d) represent the Debtor as Debtor-In-Possession in any
       proceedings which may be instituted in the Court by
       creditors or other parties during the course of this
       proceeding;

   (e) prepare on behalf of the Debtor, necessary petitions,
       answers, orders, reports and other legal papers; and

   (f) perform all other legal services for the Debtor which may
       be necessary.

Mr. Stilwell will be paid at $250 per hour.

Mr. Stilwell will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Mr. Stilwell assured the Court that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code and does not represent any interest adverse to the Debtor and
its estate.

The counsel can be reached at:

       Raymond C. Stilwell, Esq.
       LAW OFFICES OF RAYMOND C. STILWELL
       4476 Main Street, Suite 120
       Amherst, NY 14226
       Tel: (716) 634-8307
       E-mail: rcstilwell@roadrunner.com

250 Pixley Road LLC, filed a Chapter 11 bankruptcy petition (Bankr.
W.D.N.Y. Case No. 17-20125) on February 13, 2017, disclosing under
$1 million in both assets and liabilities.  The Debtor is
represented by Raymond C. Stilwell, Esq.


A&D PROPANE: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: A&D Propane, Inc.
        440-B FM 2821 West, Unit B
        Huntsville, TX 77320

Case No.: 17-31502

Chapter 11 Petition Date: March 7, 2017

Court: United States Bankruptcy Court
       Southern District of Texas (Houston)

Judge: Hon. Jeff Bohm

Debtor's Counsel: Julie Mitchell Koenig, Esq.
                  COOPER & SCULLY, PC
                  815 Walker, Suite 1040
                  Houston, TX 77002
                  Tel: 713-236-6800
                  Fax: 713-236-6880
                  E-mail: julie.koenig@cooperscully.com

Total Assets: $883,060

Total Liabilities: $1.56 million

The petition was signed by Robert Dobyns, president.

A copy of the Debtor's list of 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/txsb17-31502.pdf


AFTOKINITO RALLY: Seeks to Hire Sheehan Phinney as Legal Counsel
----------------------------------------------------------------
Aftokinito Rally, Inc. seeks approval from the U.S. Bankruptcy
Court for the District of New Hampshire to hire legal counsel in
connection with its Chapter 11 case.

The Debtor proposes to hire Sheehan Phinney Bass & Green PA to give
legal advice regarding its duties under the Bankruptcy Code,
prepare a bankruptcy plan, advise on any potential sale of its
assets, and provide other legal services.

James LaMontagne, Esq., the attorney designated to represent the
Debtor, will charge an hourly rate of $355.  The firm will charge
$140 per hour for paralegal time.

Mr. LaMontagne disclosed in a court filing that all members of the
firm are "disinterested" as defined in section 101(14) of the
Bankruptcy Code.

The firm can be reached through:

     James S. LaMontagne, Esq.
     Sheehan Phinney Bass + Green, PA
     1000 Elm Street, P.O. Box 3701
     Manchester, NH 03105-3701
     Phone: (603) 627-8168

                     About Aftokinito Rally

Based in Nashua, New Hampshire, Aftokinito Rally, Inc. sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. D. N.H.
Case No. 17-10184) on February 16, 2017.  The petition was signed
by Stephan Condodemetraky, president.  

At the time of the filing, the Debtor estimated assets of $1
million to $10 million and liabilities of less than $1 million.


ALGOZINE MASONRY: Hires Rowley & Company as Accountant
------------------------------------------------------
Algozine Masonry Restoration, Inc. seeks authorization from the
U.S. Bankruptcy Court for the Northern District of Indiana to
employ Mark Rowley of Rowley & Company as accountant.

The Debtor requires Rowley & Company to provide accounting
assistance to prepare the monthly bankruptcy report for submission
to the Bankruptcy Court and confer with the Debtor regarding any
items not fully understood.

Rowley & Company will be paid at these hourly rates:

       Partners               $300
       Managers               $175
       Seniors                $100
       Staff                  $75

Rowley & Company will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Rowley & Company required the Debtor a $5,000 retainer.

Mark Rowley, partner at Rowley & Company, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtor and its estate.

Rowley & Company can be reached at:

       Mark Rowley
       ROWLEY & COMPANY LLP
       409 West Kieffer Road
       Michigan City, IN 46360
       Tel: (219) 874-1437
       Fax: (219) 874-1438

               About Algozine Masonry Restoration

Algozine Masonry Restoration, Inc., filed a chapter 11 petition
(Bankr. N.D. Ind. Case No. 16-23208) on Nov. 10, 2016.  The
petition was signed by David A. Algozine, vice president.  The
Debtor is represented by Allan O. Fridman, Esq., at the Law Office
of O. Allan Fridman.  The Debtor disclosed total assets at $217,951
and total liabilities at $3.11 million.


AMERICAN AXLE: Fitch Assigns BB- Rating to $1.2BB Unsecured Notes
-----------------------------------------------------------------
Fitch Ratings has assigned a rating of 'BB-/RR4' to American Axle &
Manufacturing, Inc.'s (AAM) proposed private placement of $1.2
billion in senior unsecured notes. AAM's Long-Term Issuer Default
Rating (IDR) is 'BB-' and its Rating Outlook is Stable. A list of
the ratings of AAM and American Axle & Manufacturing Holdings, Inc.
(AXL), AAM's parent, is at the end of this release.

The notes will be guaranteed on a senior unsecured basis by AXL and
AAM's U.S. subsidiaries that also guarantee AAM's secured credit
facilities and its other senior unsecured notes. Proceeds from the
proposed notes will be used, along with proceeds from AAM's new
secured credit facility and cash on hand, to fund AXL's pending
acquisition of Metaldyne Performance Group Inc. (MPG).

The Recovery Rating of 'RR4' on the proposed notes reflects Fitch's
expectation of average recovery prospects, in the 30% to 50% range,
in a distressed scenario.

KEY RATING DRIVERS

The recent downgrade of the IDRs for both AXL and AAM was the
result of the pending MPG acquisition, which is expected to close
in the first half of 2017 (1H17). Although the acquisition will
significantly enhance the customer, product and geographic
diversification of AXL's business, Fitch expects the incremental
debt needed to complete the acquisition will result in
intermediate-term leverage above a level consistent with AXL's
prior LT IDR of 'BB'. The increase in leverage is particularly
significant, given the cyclicality of the auto industry. Fitch
expects sales in North America, the largest market for both AXL's
and MPG's sales, to slow over the next several years, and although
U.S. sales are likely to plateau at historically strong levels for
at least several more years, a more pronounced decline in demand
could hinder AXL's ability to de-lever its balance sheet as
expeditiously as planned.

Over the longer term, the acquisition will significantly enhance
the diversity of AXL's book of business, a key part of the
company's post-recession strategy that Fitch expects will make it
more resilient to the effects of future downcycles. Driveline
components will make up approximately 50% of AXL's sales following
the acquisition, down from about 90%. By 2019, sales related to
General Motors Company's (GM) full-size light truck program will
likely comprise less than 30% of AXL's revenue base, down from
nearly half. Geographically, the acquisition will significantly
grow AXL's presence in Europe, while providing enhanced
opportunities to sell MPG's products in Asia, where MPG has a
relatively minor presence. Growth in product, customer and
geographic diversification could take on added importance if the
U.S. government enacts border adjustment taxes or import tariffs.

Aside from the increase in leverage, there are other
transaction-related risks that Fitch has incorporated into the
downgrade of the IDRs. In particular, merging both companies'
sizeable operations could lead to integration issues and
higher-than-expected integration costs. It could also delay the
attainment of expected synergies or reduce the size of the
transaction's potential synergies. The change in ownership, which
will result in American Securities holding the largest equity stake
in AXL, adds a further element of uncertainty about the credit
profile. Although there are mitigants to each of these issues, they
nonetheless heighten intermediate-term risk in the company's
operating and credit profiles.

Fitch expects AXL's consolidated debt to be about $4.3 billion at
the closing of the acquisition, including an estimated $40 million
in factoring at MPG, leading to pro forma leverage of 3.6x. Fitch
expects leverage to decline to the low-3x range by year-end 2018
and to the mid-2x range by year-end 2019 as the company uses FCF to
reduce debt. AXL's standalone debt at year-end 2016 was $1.4
billion and EBITDA leverage was 2.2x. Fitch expects FFO adjusted
leverage to decline from around 4x on a pro forma basis at closing
to the mid-3x range at year-end 2018 and the low-3x range by
year-end 2019.

Fitch expects AXL to produce relatively strong FCF over the
intermediate term, with FCF margins running in the mid-single digit
range over the next couple of years and potentially higher beyond
that as the company benefits from the expected cost synergies. This
includes capital spending running in an estimated range of 6% to 7%
of revenue over the next several years. Fitch expects AXL's
liquidity to remain strong over the intermediate term, with its
cash on hand augmented by an $800 million secured revolver.

KEY ASSUMPTIONS

-- AXL's acquisition of MPG is completed as planned in 1H17;

-- U.S. light vehicle sales plateau at around 17 million for the
    next several years, while global sales continue to rise
    modestly in the low-single digit range;

-- AXL's debt rises to about $4.3 billion at the transaction
    close, but the company targets all available FCF toward debt
    reduction until it hits its net leverage target (according to
    its own calculation) of 1.5x;

-- Capital spending runs at about 6% to 7% of revenue over the
    intermediate term;

-- The company keeps between $300 million and $400 million in
    cash on hand;

-- The company completes the $162.5 million acquisition of a
    subsidiary of U.S. Manufacturing Corporation in the first
    quarter of 2017;

-- The company suspends its share repurchase program while it
    focuses on debt reduction.

RATING SENSITIVITIES
Positive: Future developments that may, individually or
collectively, lead to a positive rating action include:

-- Sustained FCF margins of 4% or higher;
-- Sustained EBITDA leverage below 3x;
-- Sustained FFO adjusted leverage in the low 3x range.

Negative: Future developments that may, individually or
collectively, lead to a negative rating action include:

-- Significant disruptions or inefficiencies resulting from
    acquisition integration issues;
-- Sustained EBITDA leverage above 3.5x;
-- Sustained FFO adjusted leverage above 4x;
-- A sustained decline in the EBITDA margin to below 12%;
-- Sustained FCF margins below 2%.

Fitch rates AXL and AAM:

AXL
-- IDR 'BB-'.

AAM
-- IDR 'BB-';
-- Secured revolving credit facility rating 'BB+/RR1';
-- Secured term loan A rating 'BB+/RR1';
-- Secured term loan B rating 'BB+/RR1';
-- Senior unsecured notes rating 'BB-/RR4'.

The Rating Outlook is Stable.



AMERICAN AXLE: Moody's Rates $1.2BB Sr. Unsecured Notes 'B2'
------------------------------------------------------------
Moody's Investors Service assigned a rating of B2 to American Axle
& Manufacturing, Inc.'s proposed $1.2 billion of senior unsecured
notes. The proposed notes will be used as partial funding for
American Axle's announced transaction to acquire all outstanding
shares of Metaldyne Performance Group Inc. ("MPG") in a cash and
stock transaction valued at approximately US$1.6 billion, and repay
approximately $1.9 billion of debt at MPG.

The following rating was assigned:

American Axle & Manufacturing, Inc.:

B2 (LGD5) to the new senior unsecured notes due 2025;

B2 (LGD5) to the new senior unsecured notes due 2027.

The combined amount of the two notes is expected to be $1.2
billion.

RATINGS RATIONALE

The proposed $1.2 billion of senior unsecured notes along with
$1.65 billion of previously rated senior secured term loans (see
press release dated February 23, 2017), and cash on hand will be
used to fund American Axle's $3.6 billion acquisition of MPG.

A rating upgrade would require continued revenue and earnings
growth, resulting in strong free cash flow to support debt
reduction. Support for a positive rating action includes the
expectation of sustained EBITA/Interest coverage above 2.5x and
Debt/EBITDA at below 3.0x, while maintaining a good liquidity
profile.

A downgrade could arise if industry conditions were to deteriorate
without sufficient offsetting restructuring actions or savings by
the company. A lower rating could result if EBITA/Interest is
expected to approach 1.5x, Debt/EBITDA above 4.5x, or if liquidity
deteriorates.

The principal methodology used in this rating was Global Automotive
Supplier Industry published in June 2016.

MPG is a leading provider of highly-engineered lightweight
components for use in powertrain and suspension applications for
the global light, commercial and industrial vehicle markets. MPG
produces these components and modules using complex metal-forming
manufacturing technologies and processes for a global customer base
of vehicle OEMs and Tier I suppliers. MPG has a global footprint
spanning more than 60 locations in 13 countries. MPG reported
revenues of $2.9 billion for LTM period ending October 2, 2016.

American Axle & Manufacturing, Inc., headquartered in Detroit, MI,
manufactures, designs, engineers and validates driveline systems
and related components and modules, chassis systems for light
trucks, SUV's, CUV's, passenger cars, and commercial vehicles. The
company has locations in the USA, Mexico, Brazil, China, Germany,
India, Japan, Luxembourg, Poland, Scotland, South Korea, Sweden and
Thailand. The company reported revenues of $3.9 billion for fiscal
year 2016.


AMERICAN RESIDENTIAL: Moody's Assigns B1 Rating to $295MM Loan
--------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to American
Residential Services, L.L.C.'s amended $295 million first lien term
loan due 2022. At the same time, Moody's affirmed the company's B2
Corporate Family Rating (CFR), B2-PD Probability of Default Rating,
and B1 rating on its $50 million first lien revolving credit
facility expiring in 2021. The rating outlook is stable.

In the proposed transaction, ARS is planning to amend its first
lien and second lien term loan agreements, where first lien term
loan will be upsized by $50 million to $295 million, and the
maturities of both first lien and second lien term loans extended
by one year to June 2022 and December 2022, respectively. The
maturity on the existing revolver will remain unchanged. As a part
of this transaction, the company plans to re-set its financial
covenant level to allow for additional flexibility and increase its
incurrence leverage test as relates to permitted acquisitions by
approximately half of a turn. Additionally, the amendment is
expected to result in a 50 basis point reduction in pricing of the
first lien credit facilities. The proceeds from the $50 million of
incremental term loan will be used to fund two contemplated
acquisitions of HVAC and plumbing businesses in a new for the
company geographic region, as well as to reduce revolver
borrowings.

Taking into consideration EBITDA from the contemplated acquisitions
and the term loan add-on, pro forma debt to EBITDA (including
Moody's standard adjustments) weakens slightly from the year-end
levels to approximately 5.2x, while EBITA to interest coverage is
estimated at about 2.3x. "The rating affirmation reflects Moody's
views that over the next 12 to 18 months ARS will de-lever through
earnings growth, while continuing to grow organically and through
acquisitions and generating solid free cash flow," says Moody's
Assistant Vice President Natalia Gluschuk. "Moody's also expect the
company to maintain a disciplined approach to acquisitions, which
includes financing of many of these investments with cash flow,"
added Ms. Gluschuk.

The following rating actions were taken:

Issuer: American Residential Services, L.L.C.

Proposed amended $295 million first lien
senior secured term loan due 2022, assigned B1 (LGD3);

Corporate Family Rating, affirmed at B2;

Probability of Default Rating, affirmed at B2-PD;

$50 million first lien senior secured revolving
credit facility expiring in 2021, affirmed at B1 (LGD3);

The rating outlook remains stable.

The B1 (LGD3) rating on the company's existing $250 million first
lien term loan due 2021 is unchanged and will be withdrawn upon
close of the transaction.

RATINGS RATIONALE

ARS' B2 Corporate Family Rating reflects the company's relatively
high debt levels, intense competition in the fragmented HVAC and
plumbing services industries, the seasonal nature of the company's
businesses, exposure to variations in weather in its operating
regions, and its acquisitive growth strategy. The rating also
reflects the company's aggressive financial policies as relates to
a recent shareholder distribution as well as the long-term risks
associated with private equity ownership. The rating incorporates
Moody's expectation that in the foreseeable future ARS will
maintain a disciplined approach to its acquisition activity,
focusing on bolt-on purchases, and financing many of them through
internally generated cash flow, while maintaining credit metrics
within ranges consistent with the B2 rating category. Moody's
expects the company to continue to successfully execute on its
integration plans as well as realize organic revenue growth at
steady operating margins. Additionally, Moody's expects ARS'
ability to de-lever through earnings growth to contribute to debt
to EBITDA consistently declining comfortably below 5.0x following
any potential transactions. The rating is supported by ARS' good
market positions, moderate geographic diversity and good track
record of acquiring and integrating strategic businesses and
achieving organic growth at existing locations. The recurring
revenue stream stemming from the non-discretionary repair and
maintenance component of the company's services is another positive
rating driver.

ARS has a good liquidity position, supported by Moody's
expectations of positive free cash flow generation, ample
availability under the company's revolving credit facility,
extended debt maturity profile and sufficient room under the
amended net leverage covenant in the credit agreement. Liquidity is
constrained by the seasonality of the company's operations and
exposure to unpredictable weather conditions, which could result in
cash flow volatility.

The stable rating outlook reflects Moody's expectations that the
company will grow organically and through acquisitions, exercising
a disciplined approach, will reduce leverage through earnings
growth, and maintain good liquidity.

Ratings could be upgraded if the company generates organic revenue
growth at increasing EBITA margins and strong free cash flow. To
support a higher rating, ARS would need to sustain debt to EBITDA
comfortably below 4.0x, and maintain conservative financial
policies along with a good liquidity profile.

Ratings could be downgraded if revenues and EBITA margins decline,
if debt to EBITDA is sustained above 5.0x, or if the company
experiences a weakening in its liquidity profile. Ratings could
also be downgraded if the company accelerates its debt funded
acquisition activities, or undertakes a significant shareholder
return initiative.

The principal methodology used in these ratings was Business and
Consumer Service Industry published in October 2016.

American Residential Services, L.L.C., headquartered in Memphis,
Tennessee, is one of the largest providers of HVAC, plumbing,
sewer, drain cleaning, and energy efficiency services in the United
States. The company serves both residential and commercial
customers through a network of 68 service center locations in 22
states. Charlesbank Equity Fund VII, Limited Partnership
(Charlesbank) bought a majority of the equity interests in ARS in
April 2014. In 2016, ARS generated nearly $900 million in pro forma
revenues.



ATLANTIC CITY, NJ: S&P Raises Rating on GO Debt to 'CCC'
--------------------------------------------------------
S&P Global Ratings raised its rating on Atlantic City, N.J.'s
general obligation (GO) debt to 'CCC' from 'CC'.  The outlook is
developing.

"The upgrade reflects our opinion that the near-term likelihood of
default has diminished following increased state intervention and
control of the city's operations, as well as resolution of its
largest unfunded tax appeal," said S&P Global Ratings credit
analyst Timothy Little.  Despite S&P's opinion of an improved
operating environment, the city's recovery is tenuous in the early
stages of increased state intervention.  The current rating
recognizes the city's very weak liquidity and uncertain long-term
recovery.  The city has upcoming debt service payments of $675,000
due April 1; $1.6 million May 1; $1.5 million June 1; and
$3.5 million Aug. 1.  While current and projected cash flow
statements have not been provided, the city and state anticipate
making required debt service payments on time and in full. However,
its most sizable payments are due at the end of the year,
particularly $6.4 million due Nov. 1.

"In our opinion, Atlantic City's obligations remain vulnerable to
nonpayment and, in the event of adverse financial or economic
conditions, the city is not likely to have the capacity to meet its
financial commitment," said Mr. Little, "and due to the uncertainty
of the city's ability to meet its sizable end-of-year debt service
payments, we consider there to be at least a one-in-two likelihood
of default over the next year."  Despite the state's increased
intervention, bankruptcy remains an option for the city and, in
S&P's opinion, a consideration if timely and adequate gains are not
made to improve the city's structural imbalance.

The developing outlook reflects S&P's opinion that over the next
year, it may raise or lower the rating depending on actions that
may be taken to resolve the city's structural imbalance.  If
Atlantic City makes strides to improve liquidity on a sustainable
basis, adopt cost-containment measures, and further improve its
operating environment, S&P may raise the rating.  However,
continued liquidity pressures, unfunded liabilities, and legal
uncertainty regarding the state's intervention weigh on the rating.
These uncertainties, coupled with any adverse economic or
financial conditions, leave the city's obligations highly
vulnerable to nonpayment and may result in a lower rating.

S&P also does not consider there to be a credible plan in place to
achieve long-term fiscal stability.  Despite recommendations from a
state-appointed Emergency Manager and the state's rejection of the
city's fiscal recovery plan prepared by outside consultants, no
alternative has been put forward.  While the state is not required
to produce a recovery plan as part of its increased intervention,
the lack of an agreed-on fiscal plan to address the city's
structural imbalance negatively impacts the rating.



AVAYA INC: Enters Into Asset Purchase Agreement with Extreme
------------------------------------------------------------
Avaya Inc. on March 7, 2017, disclosed that it has entered into an
asset purchase agreement with Extreme Networks, Inc., under which
Extreme will serve as the primary bidder in a section 363 sale
under the Bankruptcy Code to acquire Avaya's Networking business
for a transaction value of approximately $100 million, subject to
adjustments.

"Several months ago, in the context of optimizing our capital
structure, we announced that we were conducting a comprehensive
assessment of the various alternatives available to us, including
expressions of interest in certain Avaya assets," said Kevin
Kennedy, president and CEO of Avaya.  "After extensive evaluation,
we believe that a sale of our Networking business is the best path
forward for all stakeholders.  It provides a clear and positive
path for our Networking customers and partners and enables the
Company to focus on its core, industry-leading Unified
Communications and Contact Center solutions.  [Tues]day's
announcement furthers our overall restructuring goals as we
position the rest of Avaya for long-term success."

Mr. Kennedy continued, "The possibility of Avaya Networking being
part of a pure-play networking company like Extreme Networks would
allow greater opportunities for its products and services to thrive
and the industry to continue to benefit from our award-winning
wired, WLAN and Fabric technology."

The sale process will be administered by the United States
Bankruptcy Court for the Southern District of New York and governed
by the United States Bankruptcy Code.  Other interested parties
will be provided the opportunity to submit bids prior to a deadline
set by the Bankruptcy Court.  If other qualified bids are
submitted, an auction process will be conducted, in which the
agreement with Extreme would set the floor value for the auction.
Approval of a final sale to either Extreme or a competing bidder is
expected to take place shortly after completion of an auction.  The
transaction is expected to close by June 30, 2017, the end of
Avaya's fiscal third quarter 2017, subject to regulatory approvals
and other customary closing conditions.

                            About Avaya

Avaya Inc., together with its affiliates, is a multinational
company that provides communications products and services,
including, telephone communications, internet telephony, wireless
data communications, real-time video collaboration, contact
centers, and customer relationship software to companies of various
sizes.  The Avaya Enterprise serves over 200,000 customers,
consisting of multinational enterprises, small- and medium-sized
businesses, and 911 services as well as government organizations
operating in a diverse range of industries.   It has approximately
9,700 employees worldwide as of Dec. 31, 2016.

Avaya sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. S.D.N.Y. Case No. 17-10089) on Jan. 19, 2017.  Seventeen
Avaya affiliates also filed separate petitions, signed by Eric S.
Koza, CFA, chief restructuring officer, on Jan. 19, 2017.  Judge
Stuart M. Bernstein presides over the cases.

The Debtors have hired Kirkland & Ellis LLP as legal counsel,
Centerview Partners LLC as investment banker, Zolfo Cooper LLC as
restructuring advisor, PricewaterhouseCoopers LLP as auditor, KPMG
LLP as tax and accountancy advisor, The Siegfried Group, LLP as
financial services consultant.

William K. Harrington, the U.S. Trustee for Region 2, on Jan. 31,
2017, appointed seven creditors of Avaya Inc. to serve on the
official committee of unsecured creditors.


B & B FAMILY: Hires Keepbooking as Bookkeeper
---------------------------------------------
B & B Family, Incorporated seeks authorization from the U.S.
Bankruptcy Court for the Central District of California to employ
Nicole Dale dba Keepbooking as its bookkeeper.

The Debtor requires Keepbooking to:

   (a) review, analyze and reconcile general ledger accounts;

   (b) post daily sales activity on a bi-monthly basis;

   (c) post payroll entries to ledger;

   (d) record all income, expenses, and deposits and adjust
       entries as needed for the month;

   (e) prepare monthly financial statements for review;

   (f) prepare monthly operating reports as required by the
       bankruptcy court;

   (g) prepare sales tax returns; and

   (h) perform other necessary bookkeeping services.

Nicole Dale will be paid at $50 per hour for services rendered.

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

Nicole Dale, owner of Keepbooking, assured the Court that the firm
is a "disinterested person" as the term is defined in Section
101(14) of the Bankruptcy Code and does not represent any interest
adverse to the Debtor and its estate.

Keepbooking can be reached at:

       Nicole Dale
       KEEPBOOKING
       41599 Cherrybranch Ave
       Murrieta, CA 92562
       Tel: (714) 328-4212
       E-mail: nicole@keepbooking.org

                About B & B Family, Incorporated

B & B Family, Incorporated aka Oggi's Apple Valley aka Oggi's Apple
Valley Pizza aka B&B Family, Inc. aka Oggi's dba Oggi's Pizza &
Brewing Company aka Apple Valley Oggi's Pizza & Brewing Company
filed a Chapter 11 petition (Bankr. C.D. Cal. Case No. 16-19993),
on November 10, 2016.  The Petition was signed by Randall Richey,
secretary.  The case is assigned to Judge Mark D. Houle.  The
Debtor is represented by Todd Turoci, Esq. and Julie Philippi,
Esq., at The Turoci Firm.  The Debtor disclosed $114,662 in total
assets and $1.10 million in total liabilities.


B & B FAMILY: May Use Cash Collateral Through April 30
------------------------------------------------------
The Hon. Mark Houle of the U.S. Bankruptcy Court for the Central
District of California has entered an order continuing B & B
Family, Incorporated's use of cash collateral through April 30,
2017.

As reported by the Troubled Company Reporter on Jan. 30, 2017, the
Debtor sought permission from the Court to continue using cash
collateral from Feb. 1, 2017, through June 30, 2017, or until plan
confirmation, whichever occurs first.  The Debtor believes that the
secured creditors asserting an interest in its cash collateral are
Comerica Bank, MC, FC Partners, LP dba Pioneer Park, LLC, and
Oggi's Pizza & Brewing Company.  The Debtor said it needs to use
the cash collateral in order to operate its business.  The Debtor
contended that since all of its receivables and accounts are
security for the secured loans, the Debtor has no income that is
not cash collateral.  

                About B & B Family, Incorporated

B & B Family, Incorporated aka Oggi's Apple Valley aka Oggi's Apple
Valley Pizza aka B&B Family, Inc. aka Oggi's dba Oggi's Pizza &
Brewing Company aka Apple Valley Oggi's Pizza & Brewing Company
filed a Chapter 11 petition (Bankr. C.D. Cal. Case No. 16-19993),
on Nov. 10, 2016.  The Petition was signed by Randall Richey,
secretary.  The case is assigned to Judge Mark D. Houle.  The
Debtor is represented by Todd Turoci, Esq. and Julie Philippi,
Esq., at The Turoci Firm.  The Debtor disclosed $114,662 in total
assets and $1.10 million in total liabilities.


BEATRICE COMMUNITY: Fitch Affirms BB+ on $30MM HealthCare Bonds
---------------------------------------------------------------
Fitch Ratings has affirmed the 'BB+' rating on the following
Hospital Authority No. 1 Gage County, Nebraska bonds, issued on
behalf of Beatrice Community Hospital (BCH):

-- $30 million health care facilities revenue bonds, series
    2010B.

The Rating Outlook is Stable.

SECURITY
The bonds are secured by a pledge of gross revenues, a mortgage
lien, and a debt service reserve fund.

KEY RATING DRIVERS

SOLID OPERATING RESULTS: BCH's operating EBITDA margin decreased in
fiscal 2016 (ended September 2016) for the third consecutive year,
but still remained strong at 13.7%. The hospital's average
operating EBITDA margin of 16.9% over the past four years
comfortably surpasses the 10.5% median for the non-investment grade
rating category.

STABLE AND ADEQUATE CASH RESERVES: Consistent with the expectations
at the last review, cash remained stable in fiscal 2016 despite the
elevated capital spending for an ambulatory expansion. The project
was adequately funded with BCH's operating cash flow without
affecting liquidity reserves. The hospital reported favorable days
cash on hand (DCOH) of 154.9 days at fiscal year-end. Cash should
improve modestly in the future as BCH has no plans for capital
projects beyond modest routine capital spending. Cash-to-debt is
significantly improved to 66.8% in fiscal 2016 from 30.9% in fiscal
2013.

DEBT CONTINUES TO MODERATE: BCH's debt-to-capitalization improved
again to 46.8% in 2016 from 48.6% in 2015. Maximum annual debt
service (MADS) is still slightly elevated at 5.4% of total revenue
in fiscal 2016, but is expected to continue to improve in the
coming years as there are no additional debt plans.

CRITICAL ACCESS DESIGNATION: BCH's operating performance continues
to be bolstered by the associated supplemental revenues afforded by
its critical access hospital (CAH) designation. Further, BCH's
rural location approximately 30 miles from the nearest competing
hospital affords it a stable and leading market position, and a
very limited competitive landscape.

RATING SENSITIVITIES

SUSTAINED OPERATING IMPROVEMENT: Upward rating movement would be
considered should Beatrice Community Hospital (BCH) sustain a
financial cushion in excess of Fitch's 'BBB' category median ratios
and in line with other investment-grade critical access hospitals,
which Fitch believes is necessary to offset the risks inherent to
its small revenue base. Fitch does not expect any downward rating
pressure, based on BCH's strong financial metrics.

CREDIT PROFILE

BCH is located in Beatrice, Nebraska approximately 40 miles south
of Lincoln, Nebraska. BCH is a CAH operating 25 acute-care beds.
Other entities include two HUD housing projects for the elderly and
a 45-unit congregate living facility. BCH is also an affiliate
member of the Enhance Health Network which was founded in 2013 by a
group of healthcare providers in Nebraska to align geographically
disperse members as they transition to value-based care. Except for
one physician and one mid-level provider, BCH's small active
medical staff is all employed by the hospital.

2016 OPERATING PERFORMANCE

BCH completed the ambulatory expansion in mid-2016, on time and
under budget at $6.8 million. The project was the first expansion
for BCH's replacement hospital, which was only completed in 2012,
and was needed to accommodate space constraints in certain
departments. The Women and Children's Clinic and the Infusion
Center were relocated from the second floor of the hospital to the
new 17,500 square foot space and additional parking was added by
the new entrance. The project was fully funded with operating cash
flow, allowing BCH to maintain the liquidity improvement that it
captured in the three years prior to 2016.

BCH also funded the purchase and installation of the Epic
electronic health record for its clinics in October 2016. Due to
the conversion, billing slowed down in the first quarter of fiscal
2017 (ended December), which led to an increase in accounts
receivable days to 64.8 from 53.3 as of September 2016. Management
reports that the hospital expects to mostly resolve this issue by
the middle of the current fiscal year. Liquidity was slightly lower
at 128 DCOH as of December 2016 than in the same period in the
prior year (136.3 DCOH) due to the higher receivables. BCH's goal
is to have one patient record system throughout the hospital and is
thus negotiating a contract for the inpatient side which would most
likely be implemented in fiscal 2018.

BCH is currently completing its most recent health needs
assessment, which it does every three years with the help of a
national consulting group. As a result of the report, the hospital
is focusing more on patient-centered healthcare, palliative care,
behavioral health and considering the expansion of urgent care
hours. BCH is ultimately challenged by the population declines and
aging in its primary market of Gage County. Volumes have been
relatively flat in fiscal 2016 and the beginning of 2017, with some
modest growth in obstetrics and outpatient surgery in 2016. As a
critical access hospital with stable reimbursement streams, BCH's
operating growth is dependent on its ability to deliver sustainable
growth in clinical utilization.

BCH has begun preparing for the future needs of its aging
population and the strain on older family practitioners in the
area. BCH's longer-term goal is to recruit more mid-level
practitioners. However, recruiting medical staff and nurses to the
area continues to be a challenge with nursing shortages in the
mid-west. BCH is also currently recruiting a new CEO after the
departure of the prior CEO in January. The hospital's Chief Medical
Officer is currently serving as interim CEO.

DEBT PROFILE

Total debt was $39.6 million in fiscal 2016, which was 100%
fixed-rate with no swaps. MADS coverage was adequate at 2.6x for
the year. The hospital does not have a pension liability as it
offers a defined contribution plan for its employees.

DISCLOSURE

BCH covenants to provide audited annual financial statements 150
days after the year-end close to bondholders via the Municipal
Securities Rulemaking Board's Electronic Municipal Market Access
system (EMMA). Annual disclosure consists of a balance sheet,
income statement, medical staff, revenue sources, and utilization
statistics. Fitch views negatively the lack of a provision for
quarterly disclosure, but notes that BCH has consistently provided
voluntary quarterly disclosure to bondholders via EMMA. Disclosure
to Fitch has been timely and thorough.



BEAZER HOMES: Fitch Rates $250MM Sr. Unsecured Notes at 'B-/RR4'
----------------------------------------------------------------
Fitch Ratings has assigned a 'B-/RR4' rating to Beazer Homes USA,
Inc.'s (NYSE: BZH) offering of $250 million senior unsecured notes
due 2025. The notes will rank equally with all of the company's
other senior unsecured debt. BZH intends to use the net proceeds
from the notes issuance, together with cash on hand, to fund the
repayment of the outstanding amount of its secured term loan and
its senior unsecured notes due 2021.

BZH has commenced a cash tender offer for any and all of its $198
million 7.5% senior unsecured notes due 2021. The tender offer will
expire on March 13, 2017, unless extended or earlier terminated by
the company.

KEY RATING DRIVERS

The rating for BZH is based on the company's execution of its
business model in the current moderately recovering housing
environment, land policies, and geographic diversity. BZH's rating
is also supported by the company's improving credit metrics. Risk
factors include the cyclical nature of the homebuilding industry,
the company's high debt load and, although improving, still weak
credit metrics (particularly its high leverage), BZH's
underperformance relative to its peers in certain operational and
financial categories, and its current over-exposure to the
credit-challenged entry level market (approximately 60% of BZH's
customers are first-time home buyers).

DELEVERAGING STRATEGY

BZH reduced its total debt by almost $157 million during fiscal
year (FY) 2016 (ending Sept. 30) to $1.33 billion. The company
intends to further reduce its overall debt level by an additional
$100 million through FY18.

Fitch projects leverage will settle at or below 8.0x at the
conclusion of FY17 and net debt to capitalization will be around
65%. Fitch expects interest coverage will be 1.3x - 1.8x during the
next 12 to 18 months.

EXTENDED DEBT MATURITY SCHEDULE

BZH completed several capital markets transactions over the past
six months that extended its debt maturity profile. Proceeds from
the proposed notes offering will be used to repay its $55 million
secured term loan due March 2018 and its $200 million senior
unsecured notes due September 2021. The company has no major debt
maturities until 2019, when $321.4 million of senior unsecured
notes become due. On a pro forma basis, the next major debt
maturity will be in March 2022, when $500 million of senior notes
mature.

LIQUIDITY

The company has adequate liquidity position, including unrestricted
cash of $158.6 million as of Dec. 31, 2016. Additionally, BZH has
$142.5 million of borrowing capacity under its $180 million secured
revolving credit facility that matures in February 2019. Fitch
expects the company will remain disciplined in its land and
development spending and will generate cash flow from operations of
$50 million to $100 million during FY17.

LAND SUPPLY

BZH maintains a 4.3-year supply of lots (based on last 12 months
deliveries), 74.2% of which are owned, and the balance controlled
through options. Total lots controlled declined 8% year-over-year
and fell slightly compared with the previous quarter. Owned lots
decreased 11.9% YOY while lots controlled through options increased
5.6% compared with the same period last year. During the past
quarter, the company activated more than $40 million of land held
for future development. As of Dec. 31, 2016, BZH had 20,132 active
lots, 2,708 lots held for future development and 460 lots held for
sale.

HOUSING CONTINUES MODERATE RECOVERY

Housing activity improved modestly during 2016, with total housing
starts increasing 4.9% and single-family starts advancing 9.2% for
the year. New and existing home sales grew 12.4% and 3.8%,
respectively, during 2016.

The year 2017 could prove to be almost a mirror image of 2016.
Economic growth should be somewhat stronger in 2017, although
overall inflation should be more pronounced. Interest rates will
rise further, but demographics and employment growth should be at
least as positive in 2017. First-time buyers will continue to
gradually represent a higher portion of housing purchases as
millennials are making an entry in the home-buying market and
credit qualification standards loosen further. Land and labor costs
will inflate more rapidly than materials costs. New home prices
will continue to benefit from still-restrained levels of new home
inventory, although a greater mix toward first-time/entry-level
products will likely confine new home price appreciation to the low
single digits. Fitch expects total housing starts will increase 7%
during 2017 as single-family starts advance 10% and multi-family
starts improve almost 1%. New home sales should grow 10% while
existing home sales rise 1.7% for the year.

There has been some lessening of affordability as the upcycle in
housing has matured. U.S. home prices have been on an upward
trajectory in recent years. Mortgage rates have also risen since
the U.S. elections, and Fitch expects rates will be 40 bps-50 bps
higher, on average, during 2017 compared with 2016.

Longer-term, there are regulatory risks, including uncertainty over
the new administration's housing policies.

KEY ASSUMPTIONS

Fitch's key assumptions within the rating case for BZH include:

-- Industry single-family housing starts improve 10%, while new
    and existing home sales grow 10% and 1.7%, respectively, in
    2017;

-- BZH's homebuilding revenues increase 2% to 5% in FY17;

-- The company reduces debt by $100 million through FY18;

-- BZH generates cash flow from operations of $50 million to
    $100 million during FY17;

-- The company's debt to EBITDA settles at or below 8.0x while
    net debt to capitalization ratio will be roughly 65% at the
    end of FY17.

RATING SENSITIVITIES

Negative rating actions may occur if BZH is unable to favorably
refinance its 2019 debt maturities well ahead of their due dates,
leading to a meaningfully diminished liquidity position. Moreover,
Fitch may consider negative rating actions if the company's credit
metrics deteriorate from current levels, including debt to EBITDA
consistently above 10x and interest coverage below 1x.

BZH's ratings are constrained in the intermediate term due to weak
credit metrics and high leverage. However, positive rating actions
may be considered if the recovery in housing is maintained and is
meaningfully better than Fitch's current outlook, BZH shows
continuous improvement in credit metrics (including net debt to
capitalization below 60%, debt to EBITDA consistently below 8x and
interest coverage above 2x), and the company preserves a healthy
liquidity position.

FULL LIST OF RATING ACTIONS

Fitch currently rates Beazer Homes USA, Inc. as follows:

-- Long-Term IDR 'B-';
-- Secured revolver 'BB-/RR1;
-- Second lien secured term loan at 'BB-/RR1';
-- Senior unsecured notes 'B-/RR4'
-- Junior subordinated debt at 'CCC/RR6'.

The Rating Outlook is Stable.

The Recovery Rating (RR) of 'RR1' on BZH's secured credit revolving
credit facility and secured term loan indicates outstanding
recovery prospects for holders of these debt issues. The 'RR4' on
BZH's senior unsecured notes indicates average recovery prospects
for holders of these debt issues. BZH's exposure to claims made
pursuant to performance bonds and joint venture debt and the
possibility that part of these contingent liabilities would have a
claim against the company's assets were considered in determining
the recovery for the unsecured debtholders. The 'RR6' on the
company's junior subordinated notes indicates poor recovery
prospects for holders of these debt issues in a default scenario.
Fitch applied a going concern value analysis for these Recovery
Ratings.



BEAZER HOMES: Moody's Rates $250MM Sr. Unsecured Notes B3
---------------------------------------------------------
Moody's Investors Service assigned a B3 rating to Beazer Homes USA,
Inc.'s proposed $250 million senior unsecured notes due 2025. The
proceeds of the notes will be used to retire Beazer's $198 million
of senior unsecured notes due 2021 as well as pay down the
remaining $55 million outstanding on its senior secured Term Loan
due 2018. Beazer's B3 Corporate Family Rating and B3-PD Probability
of Default Rating remain unchanged and its outlook remains
positive.

The following rating actions were taken:

Proposed $250 million senior unsecured notes, assigned B3 (LGD4).

Ratings on the existing term loan and $198 million unsecured notes
due 2021 will be withdrawn at the close of this transaction.

RATINGS RATIONALE

The B3 Corporate Family Rating considers that while improving,
Beazer's credit metrics remain weak when compared to peers. For the
trailing twelve months ended December 31, 2016 homebuilding debt to
capitalization stood at 67.7%, homebuilding interest coverage at
1.4x, and gross margins at 17.1%. Moody's expects gross margins to
remain under pressure in 2017 due to the activation of previously
mothballed land, communities on which will generate lower than
expected margins, as well as the sale of some land parcels for
minimal margins.

At the same time, the B3 Corporate Family Rating considers the
expected improvement in the aforementioned homebuilding credit
metrics as Beazer executes on its plan to aggressively reduce debt
and achieves its 2B-10 plan goals. Moody's expects the company to
reduce debt to book capitalization below 63% by the end of fiscal
2018 (year-end September 30) through earnings retention and could
exceed these expectations if it is able to voluntarily reduce debt
through the open market purchase of its 2019 notes. The rating also
takes into consideration the company's nationally diversified
footprint and its large size. Beazer operates in 13 states across
the U.S. and Moody's projects the company to approach $2 billion in
annualized revenue in the next 18 months.

The Speculative-Grade Liquidity (SGL) Rating of SGL-2 reflects
Beazer's good liquidity profile and takes into consideration
internal liquidity, external liquidity, covenant compliance, and
alternate liquidity. Internal liquidity is supported by $159
million of cash on hand at December 31, 2016 and Moody's
expectation that the company will be modestly free cash flow
positive over the next 12 months. External liquidity is bolstered
by a $180 million secured revolving credit facility due in February
of 2019 that had no advances outstanding and $143 million of
availability at December 31, 2016 after considering letters of
credit. The company is subject to several covenants as part of its
credit facility, but Moody's expects the company to maintain
comfortable headroom under each over the next 12 months. While some
of Beazer's debt is secured, its inventory of approximately $1.6
billion at December 31, 2016 indicates that alternative sources of
liquidity are available through land sales.

The positive rating outlook reflects Moody's expectation that
Beazer's key credit metrics will improve over the next 12 to 18
months as it aggressively continues to reduce debt and executes on
its 2B-10 plan. For the Corporate Family Rating to be upgraded to
B2 from B3, Beazer needs to demonstrate consistent positive
financial performance and lower its debt over the next 12 months.

The ratings could be upgraded if Beazer's homebuilding debt to
capitalization ratio trends towards 60% on a projected basis and
its homebuilding interest coverage (defined as homebuilding EBIT to
interest incurred) trends towards 2.0x on a projected basis while
maintaining good liquidity and continuing to be profitable.

The ratings could be downgraded if Beazer's homebuilding debt to
capitalization exceeds 70% for an extended period of time and
homebuilding interest coverage (defined as homebuilding EBIT to
interest incurred) declines below 1.0x. The ratings could also be
downgraded if liquidity deteriorates.

The principal methodology used in this rating was Homebuilding And
Property Development Industry published in April 2015.

Headquartered in Atlanta, Georgia, Beazer Homes USA, Inc. has a
presence in 13 states across three geographic regions and targets
entry-level, move-up and retirement-oriented home buyers. Total
revenues and consolidated net income from continuing operations for
the last twelve month period ended December 31, 2016 were
approximately $1.8 billion and $13 million, respectively.



BEAZER HOMES: S&P Assigns 'B-' Rating on Proposed $250MM Sr. Notes
------------------------------------------------------------------
S&P Global Ratings said it assigned its 'B-' issue-level rating to
Atlanta-based homebuilder Beazer Homes USA Inc.'s proposed
$250 million senior notes due 2025.  S&P assigned a recovery rating
of '4' to the notes, reflecting its expectation for average
(30%-50%; rounded estimate: 45%) recovery to noteholders in the
event of a default scenario.  The corporate credit rating on the
company is unchanged at 'B-', and the outlook is stable.

The company will use the net proceeds from the offering, together
with cash on hand, to fund the repayment of its senior notes due
2021 and to fund the prepayment of the remaining $55 million of its
secured term loan.

In connection with the note offering S&P revised the recovery
rating on Beazer Homes' outstanding senior unsecured notes to '4'
from '3.'  The '4' recovery rating indicates S&P's expectation of
average (30% to 50%; rounded estimate: 45%) recovery in the event
of payment default.  The issue-level rating on the company's senior
unsecured notes is unchanged at 'B-', the same as the corporate
credit rating.  At the same time, S&P is withdrawing all ratings on
the secured debt because the term loan has been repaid.

S&P's corporate credit rating on Beazer reflects S&P's assessment
of the company's business risk as vulnerable, due largely to S&P's
view of the sector's cyclical nature and the company's relatively
small platform compared with most public homebuilding peers.  S&P
assess the company's financial risk as highly leveraged, because
debt to EBITDA was above 5x as of Dec. 31, 2016.

                         RECOVERY ANALYSIS

Key analytical factors

   -- The issue-level rating on the company's senior unsecured
      notes is 'B-' (same as the corporate credit rating).  S&P
      revised the recovery rating on the unsecured notes to '4'
      from '3.'  The '4' recovery rating indicates S&P's
      expectation of average (30% to 50%, rounded estimate: 45%)
      recovery in the event of payment default.

   -- The recovery rating revision occurred as a result of this
      note offering and slightly lower inventory levels since the
      last review.

   -- S&P estimates a gross recovery value of $780 million, which
      assumes a blended 48% discount to the assumed $1.6 billion
      in book value of inventory.

Simulated default and valuation assumptions

S&P's simulated default scenario contemplates a payment default in
2019.  Under this scenario, a U.S. economic recession adversely
affects the volume of new home sales and drives average selling
prices back to trough levels, at which point liquidity is
constrained and the company cannot meet its fixed-charge
obligations.

Simplified waterfall

   -- Gross recovery value: $780 million
   -- Administrative costs (5%): $40 million
   -- Net recovery value: $740 million
   -- Priority claims: $15 million*
      ---------------------------------
   -- Collateral available to secured claims: $725 million
   -- Secured claims: $120 million*
      -- Collateral available to unsecured creditors: $605 million
   -- Senior unsecured debt claims: $1315 million*
      -- Recovery expectations: 30% to 50% (rounded estimate: 45%)

*Includes six months of accrued but unpaid interest.

Ratings List

Beazer Homes USA Inc.
Corporate Credit Rating                     B-/Stable/--

New Rating

Beazer Homes USA Inc.
Senior Unsecured
  $250 mil senior notes due 2025             B-
   Recovery Rating                           4(45%)

Rating Affirmed; Recovery Rating Revised
                                      To                 From
Beazer Homes USA Inc.
Senior Unsecured                     B-                 B-
  Recovery Rating                     4(45%)             3(50%)

Rating Withdrawn

Beazer Homes USA Inc.
Senior Secured                       NR                 B+
  Recovery Rating                     NR                 1(95%)



BIOSCRIP INC: Raises $5 Million from Private Placement
------------------------------------------------------
BioScrip, Inc., entered into a Stock Purchase Agreement on March 1,
2017, for the sale of an aggregate of 3,300,000 shares of its
common stock for aggregate gross proceeds of approximately
$5,070,780 in a private placement transaction to Venor Capital
Management LP and affiliated funds.  The purchase price for each
Share was $1.5366, which was negotiated between the Company and the
Purchasers based on the volume-weighted average price of the
Company's common stock on The NASDAQ Global Market on March 1,
2017.

Proceeds from the Private Placement will be used for working
capital and general corporate purposes.

The Private Placement is exempt from the registration requirements
of the Securities Act of 1933, as amended, pursuant to the
exemption for transactions by an issuer not involving any public
offering under Section 4(a)(2) of the Securities Act.  The
securities sold and issued in the Private Placement will not be
registered under the Securities Act or any state securities laws
and may not be offered or sold in the United States absent
registration with the SEC or an applicable exemption from the
registration requirements.

In connection with the Private Placement, the Company entered into
a Registration Rights Agreement with the Purchasers.  Pursuant to
the Registration Rights Agreement, the Company agreed to prepare
and file a registration statement with the Securities and Exchange
Commission within 10 days of the date it files its annual report on
Form 10-K for the fiscal year ended Dec. 31, 2016, for purposes of
registering the resale of the Shares and any shares of common stock
issued as a dividend or other distribution with respect to the
Shares.  The Company also agreed, among other things, to indemnify
the selling holders under the registration statement from certain
liabilities and to pay all fees and expenses (excluding
underwriting discounts and selling commissions and legal fees)
incident to the Company's obligations under the Registration Rights
Agreement.

Dechert LLP is serving as legal advisor to BioScrip, and Akin Gump
Strauss Hauer & Feld LLP is serving as legal advisor to the
Purchasers.

                        About Bioscrip

Headquartered in Denver, Colo., BioScrip, Inc., is a national
provider of home infusion services.  The company's clinical
management programs and services provide access to prescription
medications for patients with chronic and acute healthcare
conditions, including gastrointestinal abnormalities, infectious
diseases, cancer, pain management, multiple sclerosis, organ
transplants, bleeding disorders, rheumatoid arthritis, immune
deficiencies and heart failure.

As of Sept. 30, 2016, Bioscrip had $595.40 million in total assets,
$550.05 million in total liabilities, $2.38 million in series A
convertible preferred stock, $67.24 million in series C convertible
preferred stock and a total stockholders' deficit of $24.28
million.

Bioscrip reported a net loss attributable to common stockholders of
$309.51 million in 2015, a net loss attributable to common
stockholders of $147.7 million in 2014, and a net loss attributable
to common stockholders of $69.65 million in 2013.

                          *    *    *

In November 2016, S&P Global Ratings lowered its corporate credit
rating on home infusion services provider BioScrip Inc. to 'CCC'
from 'CCC+' and revised the outlook to developing from stable.
"The downgrade reflects our belief that the company could face a
liquidity event within 12 months if it is unable to rapidly improve
profitability; moreover, given the company's lowered guidance, its
meaningful EBITDA shortfall in the third quarter, and its pattern
of falling short of its expectations, our confidence in the
company's ability to execute on its cost-cutting and other
strategic initiatives is limited," said credit analyst Elan Nat.

In March 2016, Moody's Investors Service downgraded BioScrip's
Corporate Family Rating to 'Caa2' from 'Caa1' and Probability of
Default Rating to 'Caa2-PD' from 'Caa1-PD'.


BLISS OF NJ: Names Leonard Rabinowitz as Accountant
---------------------------------------------------
Bliss of NJ, LLC dba J&J Auto Maintenance seeks authorization from
the U.S. Bankruptcy Court for the District of New Jersey to employ
Leonard Rabinowitz as accountant.

The Debtor requires Mr. Rabinowitz to prepare annual, quarterly and
other periodic reports and returns, and to assist filing of such
documents with the appropriate federal and state offices. Mr.
Rabinowitz will also assist the Debtor in the preparation of
monthly operating reports.

Mr. Rabinowitz will be paid a flat rate of $1,000 per month.

Mr. Rabinowitz will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Leonard Rabinowitz assured the Court that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code and does not represent any interest adverse to
the Debtor and its estate.

The accountant can be reached at:

       Leonard Rabinowitz
       5402 Rio Vista Drive
       Mahwah, NJ 07430
       Tel: (201) 746-0100

                      About Bliss of NJ

Bliss of NJ LLC, filed a Chapter 11 bankruptcy petition (Bankr.
D.N.J. Case No. 16-32723) on November 30, 2016, disclosing under $1
million in both assets and liabilities. The Debtor is represented
by John O'Boyle, Esq. at Norgaard O'Boyle.


BPS US HOLDINGS: Wants Exclusive Plan Filing Extended to May 29
---------------------------------------------------------------
BPS US Holdings Inc. and its debtor affiliates ask the Bankruptcy
Court to extend their exclusive period to file a Chapter 11 plan
through May 29, 2017, and their exclusive period to solicit
acceptances of that plan through July 27, 2017.

Absent an extension, the Debtors' Exclusive Plan Period and
Solicitation Period were slated to expire February 28, 2017 and
April 28, 2017, respectively.

The Court will convene a hearing on April 12, 2017, to consider the
Debtors' request.

The Debtors believe that they have worked diligently over the past
few months to maximize the value of their assets for all
stakeholders, and require the extension sought by the Exclusivity
Extension Motion in order to exit Chapter 11 in an orderly and
efficient manner.  

The Debtors assert that they have worked extensively with their
various constituencies and other parties in interest in the U.S.
and Canada and have achieved significant progress, culminating most
recently in Court approval, and closing, of the going-concern Sale
of their business to the Purchaser for approximately $575 million,
plus the assumption of certain liabilities.

Termination of the Exclusive Period, the Debtors maintain, would
adversely impact their efforts to preserve and maximize the value
of their estates and progress of these cases.

The Debtors are represented by Sean T. Greecher, Esq., of Young
Conaway Stargatt & Taylor LLP.

                 About Performance Sports

Exeter, N.H.-based Performance Sports Group Ltd. (NYSE: PSG) (TSX:
PSG) -- http://www.PerformanceSportsGroup.com/-- is a developer  
and manufacturer of ice hockey, roller hockey, lacrosse, baseball
and softball sports equipment, as well as related apparel and
soccer apparel. Its products are marketed under the BAUER, MISSION,
MAVERIK, CASCADE, INARIA, COMBAT and EASTON brand names and are
distributed by sales representatives and independent distributors
throughout the world. In addition, the Company distributes its
hockey products through its Burlington, Massachusetts and
Bloomington, Minnesota Own The Moment Hockey Experience retail
stores.

On Oct. 31, 2016, Performance Sports Group Ltd. and certain of its
affiliates have filed voluntary petitions under Chapter 11 of the
Bankruptcy Code in the District of Delaware and commenced
proceedings under the Companies' Creditors Arrangement Act in the
Ontario Superior Court of Justice.

The U.S. Debtors are: BPS US Holdings Inc.; Bauer Hockey, Inc.;
Easton Baseball/Softball Inc.; Bauer Hockey Retail Inc.; Bauer
Performance Sports Uniforms Inc.; Performance Lacrosse Group Inc.;
BPS Diamond Sports Inc.; and PSG Innovation Inc.

The Canadian Debtors are: Performance Sports Group Ltd.; KBAU
Holdings Canada, Inc.; Bauer Hockey Retail Corp.; Easton
Baseball/Softball Corp.; PSG Innovation Corp. Bauer Hockey Corp.;
BPS Canada Intermediate Corp.; BPS Diamond Sports Corp.; Bauer
Performance Sports Uniforms Corp.; and Performance Lacrosse Group
Corp.

The Debtors have hired Paul, Weiss, Rifkind, Wharton & Garrison LLP
as counsel; Young Conaway Stargatt & Taylor, LLP as co-counsel;
Stikeman Elliott LLP as Canadian legal counsel; Centerview LLP as
investment banker to the special committee; Alvarez & Marsal North
America, LLC, as restructuring advisor; Joele Frank, Wilkinson,
Brimmer, Katcher as communications & relations advisor; KPMG LLP as
auditors; Ernst & Young LLP as CCAA monitor; and Prime Clerk LLC as
notice, claims, solicitation and balloting agent.

Andrew R. Vara, Acting U.S. Trustee for Region 3, on Nov. 10
appointed three creditors of BPS US Holdings, Inc., parent of
Performance Sports, to serve on the official committee of unsecured
creditors. The Creditors' Committee retained by Blank Rome LLP as
counsel, Cassels Brock & Blackwell LLP as Canadian co-counsel, and
Province Inc. as financial advisor.

The U.S. Trustee appointed a committee of equity security holders.

The equity committee is represented by Natalie D. Ramsey, Esq., and
Mark A. Fink, Esq., at Montgomery, McCracken, Walker & Rhoads, LLP;
and Robert J. Stark, Esq., Steven B. Levine, Esq., James W. Stoll,
Esq., and Andrew M. Carty, Esq., at Brown Rudnick LLP.

                   *     *     *

On February 6, 2017, the Bankruptcy Court held a hearing and
approved the sale of substantially all of the Debtors' assets to
9938982 Canada Inc. or its designess for $575 million, plus the
assumption of the Debtors' ordinary course trade liabilities.
Effective as of February 27, 2017, the Debtors consummated the
sale.

The Bankruptcy Court for the District of Delaware and the Ontario
Superior Court of Justice have granted the Company approval of,
among other things, the bidding procedures and "stalking horse" bid
protections in connection with a "stalking horse" asset purchase
agreement, under which an acquisition vehicle to be co-owned by an
affiliate of Sagard Capital Partners, L.P. and Fairfax Financial
Holdings Limited, intends to acquire substantially all of the
assets of the Company and its North American subsidiaries for U.S.
$575 million in aggregate and assume related operating
liabilities.

Interested parties must submit qualified bids to acquire
substantially all of the assets of the Company no later than
January 25, 2017. The auction is set for January 30, 2017. A final
sale approval hearing is expected to take place shortly after
completion of the auction with the anticipated closing of the
successful bid to occur by the end of February 2017, subject to
receipt of applicable regulatory approvals and the satisfaction or
waiver of other customary closing conditions.


BUMBLE BEE: S&P Lowers CCR to 'CCC' on Sharp Refinancing Risk
-------------------------------------------------------------
S&P Global Ratings said that it lowered its corporate credit rating
on San Diego-based Bumble Bee Holdings Inc. to 'CCC' from 'B-'.
The outlook is negative.

At the same time, S&P lowered its issue-level rating on the
company's $605 million senior secured notes maturing in December
2017 to 'CCC' from 'B-'.  The recovery rating remains '3',
indicating S&P's expectations for meaningful (50% to 70%; rounded
estimate: 50%) recovery in the event of a payment default.  S&P
also lowered its issue-level rating on the company's $150 million
senior PIK toggle notes maturing in March 2018 to 'CC' from 'CCC'.
The recovery rating remains '6', indicating S&P's expectations for
negligible (0% to 10%; rounded estimate: 0%) recovery in the event
of a payment default.

S&P removed all the ratings from CreditWatch, where it placed them
with negative implications on Nov. 15, 2016.

Bumble Bee has not yet resolved its case with the Department of
Justice (DOJ), heightening uncertainty about the company's
financial position.

The downgrade reflects S&P's view that the three large near-term
debt maturities increase the probability of a default due to
heightened refinancing risk over the next 12 months.  The company
has been unable to extend the June 2017 maturity of its
$225 million ABL because of lender concerns over an outstanding DOJ
ruling regarding alleged price collusion in the packaged seafood
industry and the company's ability to refinance its bonds. The size
and timing of a potential DOJ ruling is unknown, including the
timing of a potential settlement schedule.  In addition, the
company's 9% senior secured notes and 9.625% PIK toggles notes are
set to mature in December 2017 and March 2018, respectively.

The company has received an amendment from its lenders removing the
debt acceleration restriction if the company were to make a
settlement payment of over $15 million, which S&P believes is
likely.  While this alleviates S&P's prior concerns over potential
debt acceleration over the very near term, the unwillingness of
lenders to extend the ABL maturity at this time signals a risk that
an extension may not be completed before maturity, especially if
the DOJ ruling uncertainty remains.

The new amendment also waives an event of default that would have
occurred due to the auditors imposing a "going concern"
qualification in the company's 2016 audit arising from the upcoming
maturities.  The lenders are compensated for the amendment by a 100
basis point increase in pricing on ABL borrowings and imposing
restrictions on borrowings or events of default if the company does
not maintain certain excess availability thresholds.  The amendment
allows for the administrative agent to impose a reserve against the
company's borrowing base at any time that excess availability under
the facility is less than the unpaid amount under a DOJ settlement
(when disclosed).  If the company does not maintain certain excess
availability thresholds and makes a payment toward the settlement,
it will constitute an event of default under the amended ABL
agreement.  This will ultimately limit the borrowing ability of the
company once a settlement amount is disclosed, if the company
enters into a settlement with the DOJ.

Leverage for the 12 months ended Oct. 1, 2016, rose to above 9x
because S&P includes the company's $22.5 million contingent legal
expense and ongoing legal expenses related to the DOJ in S&P's
EBITDA calculation.  In addition, Bumble Bee's revenues declined 5%
in the third quarter of 2016.  Revenues have been hurt by the
devaluation of the Canadian dollar versus the U.S. dollar, pressure
on pricing for key products such as albacore, and lower volumes
from continued softness in the shelf-stable seafood category.
Nevertheless, sales decline has been lower than overall industry
declines, which S&P attributes to Bumble Bee's brand strength and
product innovations (including introducing new packaging, such as
pouches instead of cans).  Although S&P expects the company's
growth prospects will be challenged as it operates in a mature
industry that is not resonating well with consumers--specifically
millennials-- S&P believes operating performance and cash flow will
improve as legal expenses decline while the top line benefits
modestly from recent innovations and channel expansion into food
service (following the Anova acquisition in 2013).

S&P's business risk assessment reflects the company's narrow focus,
with more than 90% of its total sales in the shelf-stable seafood
category (50% in tuna) and limited organic growth opportunities.
The company is the category leader with well-recognized brands,
particularly Bumble Bee in the U.S. and Cloverleaf in Canada.
However, the company's geographic diversification is limited to
North America.

The company sources seafood from all major oceans globally and
processes about 60% of its own seafood in six operating facilities.
Accordingly, the company is susceptible to fluctuations in
commodity costs, primarily tuna, skipjack, aluminum, and fuel,
which have pressured profitability in previous years.  However,
despite S&P's expectations for improvements in the U.S. economy, it
believes consumers are still price-sensitive, which will constrain
the company's ability to offset rises in commodity costs through
price increases.

Bumble Bee has increased prices to offset higher commodity costs in
the past, but done so to the detriment of volumes, which led to
lower sales.  From a customer standpoint, the company is not
concentrated and sells products through a variety of channels,
including supermarkets, mass merchant, warehouse clubs, drug and
convenience stores, and independents.  The company is also
sensitive to negative changes in environmental or fishing
regulations, as well as changes in import tariffs in North
America.

S&P assesses Bumble Bee's liquidity as weak, reflecting S&P's view
that liquidity sources do not cover liquidity uses in the next 12
months.  The company's $225 million ABL credit facility ($90.2
million outstanding as of Dec. 31, 2016, is considered a use of
liquidity) matures in June 2017 and any availability under it is
not included as a source of liquidity over the next 12 months.  In
addition, the company's $485 million of outstanding senior notes
are current as they mature in December 2017 and the $133 million
PIK toggle notes outstanding will become current on March 15, 2017.
The potential DOJ settlement amount is still unknown and can be a
future use of liquidity.  However, S&P expects the potential
settlement will be paid over time, not in one lump sum, which
should allow the company some flexibility to manage cash outflows.


Principal liquidity sources:

   -- Cash funds from operations (FFO) of at least $20 million.

Principal liquidity uses:

   -- $90.2 million of ABL borrowings outstanding as of Dec. 31,
      2016, due in June 2017. (As of Dec. 31, 2016, the company
      had roughly $196 million of borrowing base availability on
      its $225 million ABL, leaving roughly $105.8 million
      available.);

   -- $485 million debt maturity of 9% senior secured notes;

   -- $133 million debt maturity of 9.625% senior PIK toggle
      notes;

   -- Seasonal working capital uses of $25 million as the company
      builds inventory before Lent (a period in which seafood
      consumption rises in the U.S.); and

   -- Maintenance capital expenditures (capex) of $4 million.

The negative outlook reflects S&P's view that Bumble Bee could
default over the next few months if the company is unable to fully
refinance--at reasonable terms--its capital structure ahead of the
ABL maturity on June 15, 2017.  If the company is considering a
debt restructuring that does not appear to make lenders whole as
per the original terms, S&P could take an intermediate step and
lower the ratings further.

S&P could revise the outlook to stable or upgrade the company if it
refinances its entire capital structure before June 15, 2017,
thereby mitigating its near-term maturity and liquidity risk.

S&P's simulated default scenario contemplates a default within the
next 12 months because the company is unable to refinance its
upcoming ABL and note maturities, resulting in insufficient
liquidity to meet any potential legal settlement obligations and
fixed-charges.  Once additional information on the DOJ case becomes
available, S&P will evaluate its impact on recovery, if any.  Given
the company's weak liquidity, S&P believes the company would have
to seek external sources, most likely its ABL, to fund any sizable
settlements, which could affect S&P's borrowing base availability
and draw assumptions.

   -- Year of default: 2018
   -- EBITDA at emergence: $72.6 million
   -- Implied enterprise value multiple: 6x

The default EBITDA of $72.6 million roughly reflects fixed charge
requirements of about $62.7 million in interest costs (assumes
higher rate because of default and includes prepetition interest)
and $9.9 million in minimal capex assumed at default.  S&P
estimates a gross valuation of $435.6 million assuming a 6x EBITDA
multiple within the range S&P used for some of the company's
peers.

Calculation of EBITDA at emergence:

   -- Debt service assumption: $62.7 million (assumed default year

      interest plus amortization)
   -- Minimum capex assumption: $9.9 million
   -- Emergence EBITDA: $72.6 million

Simplified waterfall

   -- Emergence EBITDA: $72.6 million
   -- Multiple: 6x
   -- Gross recovery value: $435.6 million
   -- Net recovery value for waterfall after administrative
      expenses (5%): $413.8 million
   -- Obligor/nonobligor valuation split: 90%/10%
   -- Collateral value available to priority debt: $372.4 million
   -- Estimated priority claims: $138.1 million
   -- Collateral value available to secured debt: $261.2 million
   -- Estimated senior secured claims: $506.9 million
   -- Recovery range for senior secured debt: 50%-70%, rounded
      estimate: 50%

Remaining value to unsecured claims: $14.5 million

   -- Estimated unsecured debt claims: $139.4 million
   -- Recovery range for unsecured debt: 0%-10%, rounded estimate:

      0%



CALIFORNIA PROTON: Has Interim Nod to Obtain $32M in Financing
--------------------------------------------------------------
Vince Sullivan, writing for Bankruptcy Law360, reports that the
U.S. Bankruptcy Court for the District of Delaware has agreed to
grant California Proton Treatment Center, LLC, interim
authorization to obtain $32 million in debtor-in-possession
financing to be able to continue operations.

According to Law360, the Debtor's counsel was able to convince the
Court that the DIP package was absolutely necessary for the Debtor
to continue operations at its San Diego facility, where patients
are treated for cancer using proton therapy to attack solid
tumors.

Headquartered in San Diego, California, California Proton Treatment
Center, LLC, is a cancer treatment facility.

The Debtor filed for Chapter 11 bankruptcy protection (Bankr. D.
Del. Case No. 17-10477) on March 1, 2017, estimating its assets and
debts at between $100 million and $500 million.  The petition was
signed by Jette Campbell, chief restructuring officer.

Judge Selber Silverstein presides over the case.

Locke Lord LLP serves as the Debtor's general counsel.

Christopher A. Ward, Esq., at Polsinelli PC serves as co-counsel
for the Debtor.

Cain Brothers & Company, LLC, is the Debtor's investment banker.

Carl Marks Advisory Group LLC serves as the Debtor's financial
advisor.


CARIBBEAN CREAMERY: Final Hearing on Plan Set for April 4
---------------------------------------------------------
The Hon. Enrique S. Lamoutte Inclan of the U.S. Bankruptcy Court
for the District of Puerto Rico granted on Feb. 27 Caribbean
Creamery Inc.'s motion for reconsideration of the approval of the
disclosure statement to accompany the Debtor's plan of
reorganization.

A hearing on final approval of Disclosure Statement and
confirmation of Plan is scheduled for April 4, 2017, at 10:00 a.m.

As reported by the Troubled Company Reporter on Dec. 16, 2016,
Judge Inclan conditionally approved the Debtor's Disclosure
Statement to accompany its plan of reorganization, dated Dec. 1,
2016.  Judge Inclan initially scheduled the hearing for Jan. 10,
2017, at 10:00 a.m.

                    About Caribbean Creamery

Caribbean Creamery Inc. filed a Chapter 11 petition (Bankr. D.P.R.
Case No. 16-00367) on Jan. 22, 2016, and is represented by Jose M.
Prieto Carballo, Esq., at JPC Law Office.  The case is assigned to
Judge Enrique S. Lamoutte Inclan.


CARRINGTON FARMS: Hires William Gannon as General Counsel
---------------------------------------------------------
Carrington Farms Condominium Owners' Association seeks
authorization from the U.S. Bankruptcy Court for the District of
New Hampshire to employ William S. Gannon and William S. Gannon,
PLLC as general counsel.

The Debtor requires the law firm to:

   (a) advise the Debtor with respect to its powers and duties as
       debtor-in-possession and the continued management and
       operation of its businesses and properties;

   (b) attend meetings and negotiating with representatives of
       creditors and other parties in interest, respond to
       creditor inquiries, and advise and consult on the conduct
       of the case, including all of the legal and administrative
       requirements of operating in Chapter 11;

   (c) negotiate and prepare on behalf of the Debtor a plan or
       plans of reorganization, and all related documents, and
       prosecute the plan or plans through the confirmation
       process;

   (d) represent the Debtor in connection with any adversary
       proceedings or automatic stay litigation that may be
       commenced in the proceedings and any other action necessary

       to protect and preserve the Debtor's estates;

   (e) advise the Debtor in connection with any sale of assets;

   (f) represent and advise the Debtor regarding post-confirmation

       operations and consummation of a plan or plans of
       reorganization;

   (g) appear before this Court, any appellate courts, and the
       U.S. Trustee and protecting the interests of the Debtor
       before such courts and the U.S. Trustee;

   (h) prepare necessary motions, applications, answers, orders,
       reports, and papers necessary to the administration of the
       estate; and

   (i) perform all other legal services for and provide all
       other legal advice to the Debtor that may be necessary and
       proper in these proceedings, including, without limitation,

       services or legal advice relating to applicable state and
       federal laws and securities, labor, commercial, and real
       estate laws.

The firm will be paid at these hourly rates:

       William S. Gannon              $450
       Beth E. Venuti, Paralegal      $120
       Jeanne Arquette-Koehler,
       Administrative Assistant       $120

The law firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

William S. Gannon assured the Court that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code and does not represent any interest adverse to
the Debtor and its estate.

The firm can be reached at:

       William S. Gannon, Esq.
       WILLIAM S. GANNON PLLC
       889 Elm Street, 4th Flr.
       Manchester NH 03101
       Tel: (603) 621-0833

Carrington Farms Condominium Owners' Association filed a Chapter 11
bankruptcy petition (Bankr. D.N.H. Case No. 17-10137) on February
3, 2017, disclosing under $1 million in both assets and
liabilities. The Debtor is represented by William S. Gannon, Esq.


CENTRAL PLATTE: Fitch Affirms BB Rating on $21.9MM GO Bonds
-----------------------------------------------------------
Fitch Ratings has affirmed the following Central Platte Valley
Metropolitan District (CO) ratings:

-- $42.9 million general obligation (GO) bonds, series 2013A at
    'BBB-';

-- $21.9 million GO refunding bonds, series 2014 at 'BB'.

In addition, Fitch has withdrawn the Issuer Default Rating (IDR) on
the district, which was assigned with launch of revised U.S.
tax-supported rating criteria in April 2016, given the district's
limited operations.

The Rating Outlook is Stable.

SECURITY

The 2013A bonds are payable from an unlimited annual property tax
levy on all property located within the original boundaries of the
district. The 2014 bonds are payable from an unlimited annual
property tax levy on all property located within the current
boundaries of the district.

KEY RATING DRIVERS

The ratings reflect the district's favorable revenue growth
prospects and low expected revenue volatility through economic
cycles, balanced against a high liability burden. The ratings also
recognize the risk inherent in the highly concentrated tax bases
dominated by the commercial real estate sector. Fitch does not
maintain an IDR on the district because operations are limited to
financing infrastructure improvements and maintenance costs and
therefore present no significant risk to bondholders.

Economic Resource Base
The Central Platte Valley Metropolitan District is a limited
purpose special district located in lower downtown Denver. In
development since 1998, the district encompasses a major
redevelopment effort and is located adjacent to the Regional
Transportation District's (RTD) new bus and rail transit hub. Very
high tax base concentration is evident due to the high density of
large investments within a small geographic area.

Dedicated Revenue Stream Details
Pledged property tax revenues are expected to continue a rapid pace
of growth over the next several years given ongoing development.
Upon reaching full development in the medium term, assessed value
(AV) and property tax revenue gains will be dependent on biennial
reassessment gains which Fitch expects will reflect the favorable
prospects of Denver's' economy.

Long-Term Liability Burden

The overall debt burden is high in relation to the resource bases
and direct debt amortizes slowly. The district has no liabilities
for retiree benefits.

Lack of Operating Risk

The district's operating responsibilities are minimal and are
therefore not a significant credit factor.

RATING SENSITIVITIES

Reduced Liability Burden: A material reduction in the district's
long-term liability burden could result in positive rating
consideration.

CREDIT PROFILE

The district provides financing for the construction and
installation of streets, parks and recreation facilities, water,
sanitation and other infrastructure systems needed to encourage and
support existing and future development. District bonds are secured
by two distinct tax bases. The original 63-acre district secures
the 2013A GO bonds. A smaller 38-acre subset of the original, the
operating district, secures the 2014 GO bonds. The districts'
strategic downtown location is fueling rapid growth in apartments,
condominiums, retail, and commercial office buildings.

The tax base composition of the district's original taxing area is
led by commercial (53% of 2017 AV) and residential (32%). AV growth
has more than recouped a 13.7% recessionary decline with a strong
compound average annual growth rate of 23% from 2012 through 2017,
inclusive of a large 73% increase fueled mostly by reassessment
gains and additional new construction. Additional building activity
will be reflected in the 2018 AV along with potential reassessment
gains.

The large majority of recent development has taken place within the
smaller operating district as reflected in the very high AV CAGR of
36% since 2012. The operating district is comprised primarily of
commercial office buildings, accounting for a high 76% of 2017 AV.
Residential properties account for a modest 8% of AV. Recently
completed projects include several class 'A' office buildings,
apartment towers, Whole Foods, and King Soopers, the state's
leading supermarket chain. Additional projects are under
construction and only one empty parcel remains.

The primary credit weaknesses are the concentrated tax bases. The
top 10 taxpayers account for 69% and 93% of total AV for the
original taxing area and the operating district, respectively. The
smaller geographic size of the operating district results in higher
tax base concentration that is not expected to diminish even at
build-out.

Within the original tax area, top taxpayers are led by Commons 19
LLC, a large apartment and office building owner, accounting for
17% of total AV, followed by the headquarters for DaVita Inc. at
13% of the district's AV. Within the operating district, the
largest tax payer (Commons 19 LLC) accounts for 25% of 2017 AV,
followed by DaVita Inc. (20%), and an office building (16%).

Long-Term Liability Burden

The long-term liability burden for the original taxing area and the
operating district is high at 8.7% and 13.7% of market value in
2017, respectively. As primarily commercial districts with moderate
residential components, the measurement of overall debt burden
relative to personal income is of limited value. The liability
burden of each district is balanced about equally between direct
and overlapping debt [City and County of Denver (IDR of 'AAA') and
Denver School District No. 1 (IDR of 'AA+')]. No additional debt is
planned for the rapidly maturing district. Additionally, the
districts do not owe developers for any advances or reimbursements.
Payout is structured very slowly with only 27% of principal retired
in 10 years. The district has no employees or pension liability.
Fitch expects the liability burden to remain high but decline
gradually as expected AV gains should mitigate the impact of future
overlapping debt issuances.

Dedicated Revenue Stream

Debt service is paid from an annual unlimited property tax levy.
Due to numerous changes in the mill rates through the years, Fitch
uses AV as a proxy for revenues in its assessment of growth
prospects. The original taxing area's and the operating district's
AV exhibited compound annual growth of 13.9% and 18%, respectively,
for the 10-year period through 2017, rates far in excess of
inflation and U.S. GDP. Based on 2017 AV, the original tax area can
fund maximum annual debt service (MADS) with a mill levy above 2017
rates but comparable to recent rates. MADS for the operating
district-secured bonds could be funded with no increase in the mill
levy.

Fitch expects continued strong AV gains given ongoing development
activity. However, any AV gains in the districts' residential
sectors in the upcoming 2018 reassessment cycle will be affected by
the state's proposed reduction in the assessment rate for
residential properties. The constitutional requirement to limit
statewide property taxes on residential properties to a maximum of
45% of total property taxes is leading the state to reduce the
current assessment rate of 7.96% of market value to an estimated
6.65% in 2018, an 18% reduction. Due to its primarily commercial
composition, the impact on the districts will be manageable. Upon
full build-out, expected in the medium term, AV gains will be
dependent on biennial reassessment gains which Fitch expects will
reflect the favorable prospects of Denver's economy.



CHC GROUP: Bankruptcy Court Confirms Reorganization Plan
--------------------------------------------------------
CHC Group on March 6, 2017, disclosed that the U.S. Bankruptcy
Court for the Northern District of Texas has confirmed the
Company's Plan of Reorganization (the "Plan") and signed a
confirmation order to that effect.  The Company expects to complete
its financial restructuring process and emerge from Chapter 11 in
the next few weeks, after the conditions of the Plan are
satisfied.

Under the terms of the Plan, a comprehensive recapitalization of
CHC will be completed that will provide $300 million in new capital
from certain of the Company's existing creditors, as well as terms
for restructured aircraft leases and the option for additional
asset based financing commitments of $150 million from The
Milestone Aviation Group Limited and its affiliates.  In addition,
under the Plan, CHC's liabilities will be reduced and its debt
restructured.

Karl Fessenden, President and Chief Executive Officer:

"We are very pleased with the Court's approval of our Plan, which
is the final legal step in our financial restructuring process and
a key milestone toward CHC emerging as a stronger, better
capitalized company.  Completing this process and effecting our
Plan positions CHC as an economically robust and agile competitor
in the global helicopter services market and provides the Company
with a strong foundation for long-term success.  Our competitive
financial and operating structure will allow us to capitalize on
our legacy of innovation and invest in and grow CHC's business in
the years to come.  We have also been successful, by working with
our various fleet providers, to renew our fleet to the correct mix
and number of aircraft to best meet our customers' needs.  We
remain committed to maintaining a technologically advanced and
reliable fleet that helps our customers reach their goals and will
continue to raise the standard for safety, customer service and
value across the industry."

Mr. Fessenden added, "We thank our employees for their hard work
and dedication throughout this process.  We also thank our
customers, suppliers and other stakeholders for their support and
look forward to continuing to partner with them well into the
future."

CHC's Plan and Disclosure Statement as well as other information
related to the restructuring proceedings are available at
http://www.kccllc.net/chc.

Customers, suppliers and other stakeholders can find additional
information about CHC's reorganization at
http://www.chcheli.com/restructuring

                     About CHC Group Ltd.

Headquartered in Irving, Texas, CHC Group Ltd. (OTC PINK: HELIQ) is
a global commercial helicopter services company primarily servicing
the offshore oil and gas industry.  CHC maintains bases on six
continents with major operations in the North Sea, Brazil,
Australia, and several locations across Africa, Eastern Europe, and
South East Asia.  CHC maintains a fleet of 230 medium and heavy
helicopters, 67 of which are owned by it and the remainder are
leased from various third-party lessors.

CHC Group Ltd. and 42 of its wholly-owned subsidiaries each filed a
voluntary petition for relief under Chapter 11 of the Bankruptcy
Code (Bankr. N.D. Tex. Case No. 16-31854) on May 5, 2016.

The Debtors hired Weil, Gotshal & Manges LLP as counsel, Debevoise
& Plimpton LLP as special aircraft counsel, PJT Partners LP as
investment banker, Seabury Corporate Advisors LLC as financial
advisor, CDG Group, LLC, as restructuring advisor, and Kurtzman
Carson Consultants LLC as claims and noticing agent.

The Office of the U.S. Trustee on May 13, 2016, appointed five
creditors of CHC Group Ltd. to serve on the official committee of
unsecured creditors.

The Creditors Committee's attorneys are Marcus A. Helt, Esq., and
Mark C. Moore, at Gardere Wynne Sewell LLP, and Douglas H. Mannal,
Esq., Gregory A. Horowitz, Esq., and Anupama Yerramalli, Esq., at
Kramer Levin Naftalis & Frankel LLP.

Angelo, Gordon & Co. and Cross Ocean Partners, which either hold
claims or manage funds and accounts that hold claims against the
Debtors' estates arising on account of the 9.25% Senior Secured
Notes due 2020 issued under the Indenture, dated as of Oct. 4,
2010, by and among CHC Helicopter S.A., as issuer, each of the
guarantors named therein, HSBC Corporate Trustee Company (UK)
Limited, as collateral agent, and the Bank of New York Mellon, as
indenture trustee, are represented by Jones Day.


CHESAPEAKE ENERGY: Incurs $4.92 Billion Net Loss in 2016
--------------------------------------------------------
Chesapeake Energy Corporation filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K disclosing a net
loss available to common stockholders of $4.92 billion on $7.87
billion of total revenues for the year ended Dec. 31, 2016,
compared to a net loss available to common stockholders of $14.85
billion on $12.76 billion of total revenues for the year ended Dec.
31, 2015.

As of Dec. 31, 2016, Chesapeake had $13.02 billion in total assets,
$14.23 billion in total liabilities and a total deficit of $1.20
billion.

"Our ability to grow, make capital expenditures and service our
debt depends primarily upon the prices we receive for the oil,
natural gas and NGL we sell.  Substantial expenditures are required
to replace reserves, sustain production and fund our business
plans.  Historically, oil and natural gas prices have been very
volatile, and may be subject to wide fluctuations in the future.
The substantial decline in oil, natural gas and NGL prices from
2014 levels has negatively affected the amount of cash we have
available for capital expenditures and debt service.  A substantial
or extended decline in oil, natural gas and NGL prices could have a
material impact on our financial position, results of operations,
cash flows and on the quantities of reserves that we may
economically produce.  Other risks and uncertainties that could
affect our liquidity include, but are not limited to, counterparty
credit risk for our receivables, access to capital markets,
regulatory risks and our ability to meet financial ratios and
covenants in our financing agreements.

"As of December 31, 2016, we had a cash balance of $882 million
compared to $825 million as of December 31, 2015, and we had a net
working capital deficit of $1.506 billion, compared to a net
working capital deficit of $1.205 billion as of December 31, 2015.
We made significant progress in 2016 and into 2017 to reduce
near-term debt maturities, including reducing our 2017 debt
maturities by $1.878 billion, or 99%, and our 2018 debt maturities
by $815 million, or 93%.  As of February 24, 2017, we had $77
million of debt maturing or that could be put to us in 2017 and
2018.  As of December 31, 2016, we had $2.749 billion of borrowing
capacity available under our revolving credit facility, with no
outstanding borrowings and $1.036 billion utilized for various
letters of credit (including the $461 million supersedeas bond with
respect to the 2019 Notes litigation).  Based on our cash balance,
forecasted cash flows from operating activities and availability
under our revolving credit facility, we expect to be able to fund
our planned capital expenditures, meet our debt service
requirements and fund our other commitments and obligations for the
next 12 months."

A full-text copy of the Form 10-K is available for free at:

                        https://is.gd/xthQCT

                      About Chesapeake Energy

Headquartered in Oklahoma City, Chesapeake Energy Corporation's
(NYSE: CHK) operations are focused on discovering and developing
its large and geographically diverse resource base of
unconventional oil and natural gas assets onshore in the United
States.  The company also owns oil and natural gas marketing and
natural gas gathering and compression businesses.

                             *    *    *

As reported by the TCR on Jan. 25, 2017, S&P Global Ratings raised
its corporate credit rating on Oklahoma City-based exploration and
production company Chesapeake Energy Corp. to 'B-' from 'CCC+, and
removed the ratings from CreditWatch with positive implications
where S&P placed them on Dec. 6, 2016.  The rating outlook is
positive.

The TCR reported on Dec. 8, 2016, that Moody's upgraded
Chesapeake's Corporate Family Rating to Caa1 from Caa2, its second
lien secured notes rating to Caa1 from Caa2, and affirmed its
senior unsecured notes rating at Caa3.


CHS/COMMUNITY HEALTH: Fitch Assigns BB Rating to $1.75BB Notes
--------------------------------------------------------------
Fitch Ratings has assigned a 'BB/RR1' rating to CHS/Community
Health Systems Inc.'s $1.75 billion senior secured notes. Proceeds
will be used to refinance existing senior secured notes and secured
term loans. The Rating Outlook is Negative. The ratings apply to
$15.5 billion of debt outstanding at Dec. 31, 2016. A full list of
rating actions follows at the end of this release.

KEY RATING DRIVERS

Persistent Credit Profile Headwinds: The Negative Outlook reflects
CHS' high leverage, weak operating trends since the acquisition of
rival hospital operator Health Management Associates (HMA) in late
2014, and execution risk surrounding a divestiture and business
repositioning plan in some of the company's markets. Growth in
EBITDA has also been hampered by ongoing government investigations
and lawsuits.

Lingering High Leverage: Progress towards deleveraging has been
slow since the HMA acquisition; total debt/EBITDA is about 7.2x,
versus 5.2x prior to the acquisition. During 2016 CHS paid down
$1.6 billion of debt primarily with the proceeds from the spin-off
of Quorum Health Corporation (QHC) and the sale of a minority
interest in several hospitals in Las Vegas. This was the first
substantial debt repayment since the HMA acquisition.

Ongoing Divestiture Program: CHS has completed or announced further
asset sales, including divestiture of several more hospitals, some
medical office buildings and an 80% share of its home health
business. Most of these transactions are expected to close in
Q1'17, and Fitch estimates net cash proceeds from the announced
transactions of about $900 million. A recent amendment to the terms
of the credit facilities requires that asset sale proceeds are used
to repay term loan borrowings.

Lower EBITDA, More Profitable Portfolio: Fitch's $2.13 billion and
$2.16 billion EBITDA forecast for CHS for 2017 and 2018,
respectively, reflects the loss of a cumulative $3 billion in
revenue as a result of the company's portfolio pruning program. On
the Q4'16 earnings call, management said they have plans to divest
assets that contribute about 15% of 2016 revenue; this includes the
$1.8 billion in revenues represented by announced transactions
expected to close in early 2017. The divestiture program is a
central focus of an operational turn-around plan to improve same
hospital margins and sharpen focus on a subset of core markets with
better organic operating prospects.

Headwinds to Less Acute Volumes: CHS' legacy hospital portfolio is
exposed to small rural markets facing secular headwinds to lesser
acuity patient volumes. Volume trends in the company's markets are
highly susceptible to weak macro-economic conditions and seasonal
influences on flu and respiratory cases. Health insurers and
government payors have been increasing scrutiny of short stay
admissions and preventable hospital readmissions. CHS has made some
headway in turning around industry lagging volume trends, but these
challenges have proven difficult to overcome.

Repositioning Portfolio Should Help: Repositioning the portfolio
around larger, faster growing markets should help CHS' organic
volume growth by reducing exposure to these lesser acuity volumes.
Much like its peers in larger hospital markets, the company is
shifting the investment focus to building comprehensive networks of
inpatient and outpatient facilities to capture share in certain
targeted markets. This is a strategy that is aligned with secular
trends in healthcare delivery and should benefit the operating
profile. However, successful execution of this repositioning is not
without challenges from both an operational execution and capital
investment perspective and is occurring at a time when cash flow
generation is depressed relative to historical levels and
management is still grappling with HMA integration issues.

Progress in Resolution of Legal Issues: CHS has been dealing with
government investigations and lawsuits related to the issue of
short-stay hospital admissions. CHS has made good progress in
resolving the legal issues facing the legacy CHS hospitals, which
did not involve financial fines significant enough to threaten
financial flexibility and provided some comfort that the scope of
the potential HMA fines or penalties will be similarly manageable.
The timing of cash payment to settle the HMA liabilities is
uncertain.

At Dec. 31, 2016, CHS has recorded a $260 million reserve for
potential financial payment associated with these cases. Based on
the size of the financial settlement negotiated for the legacy CHS
hospitals, Fitch thinks the reserve is likely adequate to cover the
eventual penalty, although there is a tail risk scenario where the
payment is greater. The reserve also mirrors the size of the
contingent value right agreed to as part of the HMA acquisition,
which essentially establishes a floor on the payment amount.

KEY ASSUMPTIONS

Fitch's key assumptions within the rating case for CHS include:

-- Top line growth of negative 12.2% and negative 1.6% in 2017
    and 2018, respectively, reflects completed and planned
    divestitures. Underlying same hospital growth of 1%-2% is
    driven by pricing as patient volumes are assumed to be flat at

    best and slightly down in most payor classes.

-- EBITDA before associate and minority dividends of $2.13
    billion and $2.16 billion in 2017 and 2018, respectively,
    assumes that the operating EBITDA margin recovers about 100
    bps by the end of 2017, to 13.1%, versus the Dec. 31, 2016 LTM

    level of 12.1%, as the result of divesting less profitable
    hospitals.

-- FCF margin of 1.6% in 2017 (same as 2016 level) and improving
    to above 2% in 2018-2019, benefiting from lower cash interest
    expense due to debt re-payment, and higher profitability.

-- Capital intensity of 4.5% in 2017 and rising to 5% by 2019,
    reflecting an assumption of increased investment in the
    company's remaining hospital markets.

-- Total debt/ EBITDA after associate and minority dividends
    drops below 7x in 2017 due to debt repaid with divestiture
    proceeds; and there are no issues with maintaining debt
    covenant compliance during the forecast period.

RATING SENSITIVITIES

Maintenance of CHS' 'B' IDR considers total debt/EBITDA after
associate and minority dividends slowly declining to about 6.5x
over the next several years, primarily due to debt reduction in
2017 and slight growth of EBITDA due to stabilizing operating
trends in the outer years of the 2017-2020 forecast period.
Maintenance of the rating also considers that CHS will generate at
least break even FCF.

A downgrade to 'B-' could result from total debt/EBITDA after
associate and minority dividends durably above 7.0x coupled with a
cash flow deficit that requires incremental debt funding. An
expectation of total debt/EBITDA after associate and minority
dividends sustained near 5.5x and a FCF margin of 3%-4% could
result in an upgrade to 'B+'.

Risks to the operating outlook include the inability of management
to execute on operational improvements necessary to improve organic
volume growth and profitability. This could be evidenced by
difficultly completing the remaining planned divestitures and
associated debt pay-down, and/or sustained negative growth in CHS'
same hospital adjusted admissions.

LIQUIDITY

At Dec. 31, 30, 2016, sources of liquidity included $238 million of
cash on hand and $945 million of available capacity on the senior
secured credit facility cash flow revolver; the company generated
LTM FCF of $301 million. CHS' EBITDA/interest paid is solid for the
'B' rating category at 2.3x. Upcoming debt maturities include an
A/R securitization facility with $677 million outstanding at Dec
31, 2016; $250 million of the $700 million A/R funding commitment
matures November 2017 and the remaining $450 million matures
November 2018.

The 2018-2019 maturity schedule includes $2.2 billion of maturities
in 2018 and $3.5 billion in 2019. The upcoming maturities are all
secured debt with the exception of $1.9 billion of unsecured notes
maturing in 2019; the terms of the unsecured note indentures do
limit the company's ability to refinance unsecured debt with
secured debt. Fitch expects the new $1.75 billion of secured notes
will be used to refinance a portion of the 2018 secured debt
maturities.

CHS was granted an amendment to the terms of the credit agreement
by the bank lenders during Q4'16 to give near-term relief on the
financial maintenance covenant levels. There was no increase in
pricing, but the credit enhancements for the lenders strengthened
the conditions under which the company is required to use
divestiture proceeds to reduce debt, which is a near-term positive
from a credit profile perspective. Despite the forecasted decline
in EBITDA in the ratings case, Fitch expects the company to remain
in compliance with the financial maintenance covenants through the
projection period.

FULL LIST OF RATING ACTIONS

Fitch has taken the following rating actions:

Community Health Systems, Inc.:
-- Issuer Default Rating (IDR) affirmed at 'B'.

CHS/Community Health Systems, Inc.:
-- IDR affirmed at 'B';
-- Senior secured credit facility upgraded to 'BB/RR1' from
    'BB-/RR2';
-- Senior secured notes upgraded to 'BB/RR1' from 'BB-/RR2';
-- Senior unsecured notes downgraded to 'CCC+/RR6' from 'B/RR4'.

The Rating Outlook is Negative.

The 'BB/RR1' rating for CHS' secured debt (which includes the bank
term loans, revolver and senior secured notes) reflects Fitch's
expectations for 91% recovery under a hypothetical bankruptcy
scenario. The 'CCC+/RR6' rating on CHS' $6.1 billion senior
unsecured notes reflects Fitch's expectations of no recovery for
these lenders in bankruptcy.

The changes in the debt issue ratings reflect Fitch's understanding
that the equity value of non-guarantor operating subsidiaries would
be recovered by the secured debt lenders prior to any residual
value flowing to the unsecured lenders. Fitch's recovery waterfall
reflects this assumption based on terms in the credit facility
collateral and pledge agreement.

In the U.S. healthcare sector, Fitch consistently uses a
going-concern approach to valuation as opposed to assuming a
liquidation value; intrinsic value is assumed to be greater than
liquidation value for these companies, implying that the most
likely outcome post-default would be reorganization rather than
liquidation.

The going-concern cash flow (measured by EBITDA) estimate assumes
an initial deterioration that provokes a default which is somewhat
offset by corrective actions that would take place during
restructuring. Fitch assumes a 30% discount to its 2017 forecasted
EBITDA less distributions to non-controlling interests of $2.048
billion for CHS, resulting in a going concern EBITDA estimate of
$1.43 billion.

Fitch applies a 7x multiple to CHS' going concern EBITDA, resulting
in an enterprise value (EV) of $10 billion. The 7x multiple is
based on observation of both recent transactions/takeout and public
market multiples in the healthcare industry. Administrative claims
are assumed to consume 10%, or about $1 billion of EV, which is a
standard assumption in Fitch's recovery analysis. Also standard in
its analysis, Fitch assumes that CHS would fully draw the available
balances on the bank credit revolver and the A/R securitization
facility in a bankruptcy scenario and includes those amounts in the
claims waterfall.

Fitch applies a waterfall analysis to the going-concern EV based on
the relative claims of the debt in the capital structure. Fitch
estimates EV available for claims of $9 billion. Secured claims,
including the A/R securitization, the bank revolver, term loans and
senior secured notes are assumed to be $9.9 billion, leaving no
value for unsecured lenders.



CHS/COMMUNITY HEALTH: Moody's Assigns Ba3 Rating to $1.75BB Notes
-----------------------------------------------------------------
Moody's Investors Service assigned a Ba3 rating to the proposed
notes offering of CHS/Community Health Systems, Inc. Proceeds from
the proposed $1.75 billion senior secured notes offering will be
used to refinance upcoming maturities of senior secured debt. The
offering will not materially change leverage or result in a
material change in the company's ratio of secured to unsecured
debt. There are no other changes to ratings, including the B2
Corporate Family Rating or Probability of Default Rating of B2-PD.
The Ba3 ratings on the company's existing senior secured debt and
Caa1 ratings on its unsecured notes are also unchanged. The outlook
is negative and the Speculative Grade Liquidity rating remains
SGL-3 (signifying adequate liquidity).

Ratings assigned:

Senior secured notes at Ba3 (LGD 2)

RATINGS RATIONALE

Community's B2 Corporate Family Rating reflects Moody's expectation
that the company will continue to operate with very high financial
leverage over the next 12 to 18. While planned asset sales will
allow the company to repay debt, Moody's anticipates that
deleveraging will be constrained by continuing operating headwinds,
including weak admission trends. Supporting the rating is
Community's large scale and strong market presence. Scale remains
significant even after the spin-off of operations into Quorum
Health Corporation and other planned divestitures.

The successful execution of the contemplated refinancing
transaction will address near-term maturities, improving liquidity.
Further, the recent credit agreement amendment temporarily provides
the company with additional covenant cushion. The liquidity rating
of SGL-3 continues to be constrained, however, by the expiration of
a portion of the company's accounts receivables facility in
November 2017 ($250 million), relatively high required debt
amortization over the next 12 months, modest free cash flow and the
expectation that covenant cushion will decline in early 2018 once
the covenants step-down again. Also, over the next year, Community
will need to further address the maturity of its Term Loan A
(January 2019) and the expiration of its revolver (January 2019).

The negative rating outlook reflects Moody's expectation that
difficulties in improving operating results will result in debt to
EBITDA remaining well above 6.0 times.

If the company's liquidity weakens, either because of operational
shortfalls or adverse developments related to ongoing
investigations, or if compliance with covenants becomes less
certain, Moody's could downgrade the ratings. Further, if the
company fails to address refinancing needs well in advance of
upcoming maturities, the ratings could be downgraded. Ratings could
also be downgraded if there is further earnings deterioration, or
if Moody's does not expect Community's debt to EBITDA to decline
closer to 6.0 times.

Moody's could upgrade the ratings if operational initiatives result
in volume growth that remains on par with the peer group. Community
will also have to strengthen its liquidity and reduce and sustain
debt to EBITDA below 5.0 times prior to a ratings upgrade. Finally,
Moody's would have to gain additional certainty around the path the
company is pursuing with respect to its review of strategic
options.

CHS/Community Health Services, Inc., headquartered in Franklin,
Tennessee, is an operator of general acute care hospitals in
non-urban and mid-sized markets throughout the US. Community
recognized approximately $18.4 billion in revenue for the twelve
months ended December 31, 2016.

The principal methodology used in this rating was that for Business
and Consumer Service Industry published in October 2016.



CHS/COMMUNITY HEALTH: S&P Assigns BB- Rating on $1.75BB Sr. Notes
-----------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' rating (two notches above the
corporate credit rating) to Community Health Systems Inc.'s
proposed $1.750 billion issue of senior secured notes due 2023,
issued by subsidiary CHS/Community Health Systems Inc.  The
recovery rating is '1', indicating S&P's expectation for very high
(90%-100%, rounded estimate: 90%) recovery to debtholders in the
event of payment default.  The new debt is being issued to
refinance existing secured indebtedness, which carried the same
rating.  S&P's other ratings on Community, including the 'B'
corporate credit rating and negative outlook, are not affected.

S&P's 'B' corporate credit rating and negative rating outlook on
Community continues to reflect S&P's expectation that the company
will stabilize its operations, resulting in a smaller, more
profitable hospital portfolio that can consistently generate at
least $100 million to $200 million of recurring positive free cash
flow over time.  However, S&P's negative outlook also reflects its
view that some risk remains to the company's strategy to improve
margins and reduce the size of its portfolio by using proceeds from
asset sales to reduce debt.  S&P's ratings also incorporate its
favorable view of the company's substantial scale and diversified
hospital portfolio, tempered by significant exposure to
reimbursement risk and our view that Community's nonurban markets
are likely to experience slower volume growth relative to urban
markets.

RATINGS LIST

Community Health Systems Inc.
Corporate Credit Rating             B/Negative/--

New Rating

CHS/Community Health Systems Inc.
Senior Secured
  $1,750 Mil. Notes Due 2023         BB-
   Recovery Rating                   1 (90%)



COMMUNITY HOME: Edwards & Beher Drop Bid to Prohibit Cash Use
-------------------------------------------------------------
The Hon. Neil P. Olack of the U.S Bankruptcy Court for the Southern
District of Mississippi held a hearing on the emergency motion of
Edwards Family Partnership, LP, and Beher Holdings Trust's
emergency motion to prohibit Community Home Financial Services,
Inc.'s use of cash collateral, require the Debtor to segregate
funds belonging to joint ventures, and prohibit the Debtor from
using the joint venture funds and requiring payment of the funds to
Edwards Family and Beher Holdings.  The Debtor filed a response to
the Motion.  At the hearing, the Court was advised that the EFP and
BHT desire to withdraw the Motion.  Accordingly, the Court ruled:

   1. The Motion is withdrawn.

   2. The Debtor's response is dismissed.  

                About Community Home Financial

Community Home Financial Services, Inc., filed a Chapter 11
petition (Bankr. S.D. Miss. Case No. 12-01703) on May 23, 2012.
The petition was signed by William D. Dickson, president.

Community Home Financial is a specialty finance company located in
Jackson, Mississippi, providing contractors with financing for
their customers.  CHFS operates from one central location
providing financing through its dealer network throughout 25
states, Alabama, Delaware, and Tennessee.  The Debtor scheduled
$44.9 million in total assets and $30.3 million in total
liabilities.  Judge Edward Ellington presides over the case.

The Debtor was first represented by Roy H. Liddell, Esq., and
Jonathan Bissette, Esq., at Wells, Marble, & Hurst, PPLC as
Chapter 11 counsel.  Wells Marble was terminated Nov. 13, 2013.

The Debtor is now being represented by Derek A. Henderson, Esq.,
in Jackson, Miss.  In 2013, the Debtor sought to employ David
Mullin, Esq., at Mullin Hoard & Brown LLP, as special counsel.

On Jan. 9, 2014, Kristina M. Johnson was appointed as Chapter 11
Trustee for the Debtor.  Jones Walker LLP serves as counsel to the
Chapter 11 trustee, while Stephen Smith, C.P.A., acts as
accountant.


CONCORDIA INTERNATIONAL: Comments on CMA SO re: Hydrocortisone
--------------------------------------------------------------
Concordia International Corp. commented on the issuance by the UK
Competition and Markets Authority of a Statement of Objections to
Actavis UK (formerly Auden Mckenzie) and Concordia's International
segment in relation to the supply of 10mg hydrocortisone tablets in
the United Kingdom between 2013 and 2016.

A statement of objections (SO) is a formal statement by the CMA
that it considers that a competition infringement may have
occurred.

The Company commented: "We believe that the conduct of Amdipharm
was not in breach of competition law.  We will review the CMA's
provisional position as set out in its Statement of Objections and
then intend to respond in detail to it.  As previously disclosed,
we are cooperating fully with the CMA in this investigation.  We
believe that the supply arrangement between Auden McKenzie, which
was acquired by Actavis in 2015, and Amdipharm for full-indication
10mg hydrocortisone tablets did not infringe competition law."

The CMA commented: "As always at this stage in an investigation,
these findings are provisional and no conclusion should be drawn at
this stage that there has in fact been any breach of competition
law.  We will carefully consider any representations of the
companies under investigation before determining whether the law
has been infringed."

The SO issued includes matters that pre-date Concordia's ownership
of the International segment.  Concordia acquired the International
segment as a result of its transaction to purchase Amdipharm
Mercury Limited from Cinven and certain other sellers, which closed
on Oct. 21, 2015.

The statement of objections is additionally addressed to Cinven as
the ultimate parent company of Concordia International (Jersey)
Limited from Jan. 1, 2013, until Oct. 20, 2015, and Concordia from
Oct. 21, 2015, until June 24, 2016.

The SO constitutes the CMA's provisional view that a supply
agreement between Auden McKenzie and Amdipharm for Auden's
full-indication hydrocortisone 10mg tablets delayed the sale by
Amdipharm of its own reduced-indication formulation of
hydrocortisone 10mg tablets in the UK.

Concordia and others will now have the opportunity to respond.  The
CMA is then under a duty to carefully consider the parties'
representations in response before making a decision on this
issue.

                       About Concordia

Concordia is a diverse, international specialty pharmaceutical
company focused on generic and legacy pharmaceutical products and
orphan drugs.  The Company has an international footprint with
sales in more than 100 countries, and has a diversified portfolio
of more than 200 established, off-patent molecules that make up
more than 1,300 SKUs.  Concordia also markets orphan drugs through
its Orphan Drugs Division, consisting of Photofrin for the
treatment of certain rare forms of cancer.

Concordia operates out of facilities in Oakville, Ontario and,
through its subsidiaries, operates out of facilities in
Bridgetown, Barbados; London, England and Mumbai, India.

As of Sept. 30, 2016, Concordia had US$4.22 billion in total
assets, US$3.92 billion in total liabilities and US$301.04 million
in total shareholders' equity.

                           *    *    *

As reported by the TCR on Nov. 17, 2016, Moody's Investors Service
downgraded the ratings of Concordia International Corp. including
the Corporate Family Rating to 'Caa1' from 'B3' and the
Probability of Default Rating to 'Caa1-PD' from 'B3-PD'.  "The
downgrade follows continued weakness in the business, an uncertain
competitive environment, and an unclear and challenging path
towards deleveraging," said Jessica Gladstone, Moody's senior vice
president.


CORPORATE CAPITAL: Fitch Affirms BB+ Long-term IDR
--------------------------------------------------
Fitch Ratings has affirmed Corporate Capital Trust's (CCT)
Long-term Issuer Default Rating (IDR) and secured debt rating at
'BB+'. The Rating Outlook is Stable. Today's rating actions have
been taken as part of Fitch's periodic peer review of Business
Development Companies (BDCs), which comprises eight publicly rated
firms.

BDC INDUSTRY OUTLOOK

Fitch's outlook for the BDC sector remains negative, reflecting:
competitive underwriting conditions, unattractive supply/demand
dynamics in the middle market, earnings pressure, weakening asset
quality metrics, and limited access to growth capital. While some
firms are better positioned, given their more conservative
financial profiles, platform strength, capital market access and
portfolio characteristics, others are likely to see rating pressure
over the outlook horizon.

Underwriting conditions have been competitive for several years, as
the continuation of low interest rates around the globe has
increased the demand for higher-yielding middle market paper for a
variety of investor classes. While demand has been on the rise for
several years, supply dropped meaningfully in 2016 bringing added
pressure to middle market deal structures and pricing. Fitch
believes challenging underwriting conditions are likely to persist
in 2017, further highlighting the importance of a BDC's scale,
platform, the consistency of its risk tolerance, and its access to
meaningful deal flow, to avoid adverse selection.

Non-accrual levels for the industry have been on the rise, but
portfolio issues to date have generally been isolated to
energy-related investments and idiosyncratic portfolio issues. Core
industry-wide defaults remain below historic norms and Fitch does
not currently see a catalyst for meaningful portfolio deterioration
over the near term. However, BDC portfolios are heavily
concentrated in 2014 - 2016 vintages, which generally exhibit
higher underlying leverage levels and weaker terms and conditions.
As a result, any cracks in the economy are likely to translate into
asset quality issues more quickly, given the smaller embedded
financial cushion in most portfolio credits.

Capital market access was limited for the rated peer group in 2016,
with $78 million of public equity issuance for the year. However,
BDC share prices rallied as the year progressed, and the average
share premium was 1.8% at March. 3, 2017; however, the gap between
the strongest and weakest stocks remains relatively wide. Fitch
expects equity issuance to increase in 2017, with those having
access to the market benefiting from a competitive advantage. On
the debt front, a $600 million issuance in September 2016 was the
first public-note issuance in nearly 17 months. Fitch expects
public market access to remain challenging for some in 2017, but
debt maturities this year are considerably more manageable.

Fitch observed a modest improvement in BDC leverage in 2016, as
share repurchase activity declined with the run-up in share prices
and because portfolio repayments surpassed origination volume.
Average leverage for the rated group was 0.66x at Sept. 30, 2016,
compared with 0.71x at year-end 2015. Fitch expects BDCs with
elevated non-accruals and outsized exposure to non-debt investments
to operate with a more meaningful asset coverage cushion given the
potential for valuation volatility and/or incremental portfolio
losses.

KEY RATING DRIVERS

IDRs AND SENIOR DEBT

The rating affirmations reflect the strength of CCT's relationship
with CNL Fund Advisors Company (CNL) and KKR Credit Advisors (US)
LLC (KKR Credit), low leverage and relatively low portfolio
concentrations. CNL has demonstrated its ability to raise and
administer capital in the retail market over a long period of time,
while KKR Credit has a strong and established track record
underwriting credit and has strong access to deal flow, given its
affiliation with KKR & Co. L.P. (KKR; Long-Term IDR 'A').

Rating constraints specific to CCT include a limited operating
history as a business development company (BDC), weaker-than-peer
earnings yields, above average recent deterioration in asset
quality, a fully secured funding profile, weaker relative earnings
coverage of the dividend, and an inability to access the equity
markets for capital following the expiration of its issuing
authority. Rating constraints for the BDC sector include the
capital markets impact on leverage, given the need to fair value
the portfolio each quarter, dependence on the access to capital
markets to fund portfolio growth, and a limited ability to retain
capital due to dividend distribution requirements.

CCT's asset quality trends had been strong since inception, but
deteriorated in late 2015 and 2016, with non-accruals increasing to
approximately 6.8% of the debt portfolio, at cost, and 3.6% of the
portfolio, at value, at Sept. 30, 2016. These metrics are
well-above the peer average and occur in what Fitch considers to be
a relatively benign credit environment. The firm had nine
investments on non-accrual status, three of which were energy
investments, accounting for 49.3% of non-accruals, at fair value.
CCT also recognized meaningful unrealized portfolio depreciation in
2015, which was only partially reversed in the first three quarters
of 2016. While some valuation movement can be technical in nature,
the depreciation may also signal the potential for realized
portfolio losses over the near-term. CCT recorded $10.2 million of
net realized losses in the first nine months of 2016, but has
recognized about $90.5 million of cumulative net realized portfolio
gains since inception, which is considered strong. The firm's
ability to work through underperforming investments without
recognizing material realized losses will inform Fitch's assessment
of CCT's underwriting acumen and workout capabilities.

CCT's operating earnings continued to increase in the first nine
months of 2016 as equity proceeds were deployed into portfolio
growth. Interest income rose nearly 29.7% in the first nine months
of 2016 year-over-year, given 17.2% expansion in the portfolio and
wider debt spreads in the floating rate portfolio. However,
interest income included a $3.9 million reversal of payment-in-kind
(PIK) for an investment placed on non-accrual. Fitch believes net
investment income (NII) has the potential to grow modestly in 2017,
as CCT has leverage capacity and is poised to benefit from a
further increase in interest rates, but a continuation of
competitive market conditions, which may pressure underwriting
spreads, and incremental asset quality issues, could moderate the
degree of NII improvement.

Leverage, as measured by debt to equity, amounted to 0.59x at Sept.
30, 2016, which is below the peer average and the firm's long-term
target of 0.67x. At 3Q16, effective borrowing capacity would have
allowed the company to lever to 0.71x (assuming 33% collateral is
held against the total return swap). Subsequent to quarter-end,
subsidiary CCE SE I LLC entered into a $300 million revolving
credit facility with a maturity of November 2020 and a borrowing
rate of LIBOR plus 3%. This facility will provide the firm with
incremental borrowing capacity, adjusting for about $200 million of
2017 debt maturities. CCT's funding profile remains fully secured,
which provides less funding flexibility than higher-rated peers.

CCT's liquidity profile is considered sound with $43.9 million of
balance sheet cash, including foreign currency, and $531.6 million
of availability on various secured funding facilities, subject to
borrowing base requirements, at Sept 30, 2016. Cash flows from
investment repayments and exits remain significant, amounting to
$891.7 million in the first nine months of 2016, which was up 39.9%
from the comparable period in 2015.

Additionally, 45.7% of fixed interest rate debt investments had
prices generally available from third-party pricing services at
Sept. 30, 2016, which may indicate increased market liquidity.
NII dividend coverage has been below 100% since inception and
amounted to 85.7% through the first three quarters of 2016, which
is below the peer average. Cash earnings coverage of the dividend,
which adjusts for PIK income and total return swap spread income,
was even lower, at 83.2%. CCT's non-cash income has historically
been elevated compared to the peer group, although it did decline
in 2016, with PIK accounting for 5.8% of total investment income in
the first nine months of 2016. Fitch closely monitors non-cash
earnings as PIK is often used as a cash management tool to help
struggling companies manage through periods of liquidity stress.
This income stream may be ultimately uncollectable, as evidenced by
the recognition of $3.9 million of PIK reversals by CCT in 2016.
While CCT's total cash dividend coverage is strong when adjusting
for dividend reinvestment plan (DRIP) participation, or when
measured on a taxable income basis, Fitch would view favorably an
improvement in cash NII coverage of the dividend. This is
particularly important, as it is not clear whether DRIP
participation will decline following the expiration of the firm's
equity issuance authority.

The Stable Outlook reflects Fitch's expectations for operating
consistency, stability in asset quality, as measured by declines in
non-accrual levels without the recognition of material net realized
portfolio losses, modest leverage, sound liquidity, and improved
dividend coverage.

RATING SENSITIVITIES

IDRs AND SENIOR DEBT

Negative rating actions for CCT could be driven by an extended
increase in leverage above the targeted range of approximately
0.67x (asset coverage of 250%), resulting from increased borrowings
or material realized or unrealized depreciation, and/or a
meaningful increase in the proportion of equity holdings without a
commensurate decline in leverage. A spike in net realized losses,
inability to improve non-accruals, inability to extend the debt
maturity profile as necessary, and weaker cash income dividend
coverage would also be viewed unfavorably from a ratings
perspective.

Positive rating momentum for CCT is viewed as limited over the near
term, particularly given the challenging market backdrop, but could
develop over time with increased funding flexibility, including an
extension of the debt maturity profile, access to the public
unsecured debt markets, and the ability to issue public equity for
growth capital. Other positive rating factors could include an
improvement in net investment income yields, strong recovery of
recent asset quality issues, reduced non-cash income, and stronger
cash earnings dividend coverage.


CCT is an externally managed business development company,
organized in June 2010 and commenced investment operations in July
2011. As of Sept. 30, 2016, the company had investments in 144
portfolio companies amounting to approximately $4.1 billion.

Fitch has affirmed the following ratings:

Corporate Capital Trust
-- Long-term Issuer Default Rating at 'BB+';
-- Secured Debt Rating at 'BB+'.

The Rating Outlook is Stable.



COSI INC: May Use Cash Collateral Through April 25
--------------------------------------------------
The Hon. Melvin S. Hoffman of the U.S. Bankruptcy Court for the
District of Massachusetts has authorized Cosi, Inc., to use through
April 25, 2017, cash collateral in the ordinary course of the
Debtor's business.

A hearing to consider the continued use of the Cash Collateral will
be held on April 25, 2017, at 2:00 p.m.

The Debtors require the use of cash collateral in order to preserve
their operations and the value of their assets.

These creditors may have liens against the Debtor's personal
property, including its cash and accounts receivable: (a) Milfam II
LP, (b) AB Opportunity Fund LLC, and (c) AB Value Partners, L.P.
In addition, UCC financing statement have been filed on behalf of
First Franchise Capital Corporation, Santander Bank, and American
Express Bank, although the Debtors represent that their obligations
to these entities have been discharged.  JPMorgan Chase Bank, N.A.,
has a perfected, senior security interest in cash held in two
separate collateral accounts of Cosi Sandwich Bar, Inc., and in the
Debtors' primary operating account.  The CSB Collateral accounts
collectively hold approximately $100,000.  JPM's security interest
secures all liabilities due from the Debtors to JPM.  The
liabilities include, but are not limited to, outstanding letters of
credit issued by JPM, in an amount of approximately $288,000, plus
exposure to ACH transactions and amounts in relation to the
Debtors' corporate credit card program through JPM.

As adequate protection for the Debtor's use of Cash Collateral, the
Senior Secured Lenders are granted replacement liens in and to all
property of the kind presently securing the prepetition obligations
of the Senior Secured Lenders, including any property purchased or
acquired with the Cash Collateral and any proceeds thereof, but
excluding any causes of action under Chapter 5 of the Bankruptcy
Code (other than Section 549) or the proceeds of any claims under
or actions commenced pursuant to the powers.  The Replacement Liens
will only attach to and be enforceable against the same types of
property, to the same extent, and in the same order of priority as
existed immediately prior to the Petition Date.  The Replacement
Liens will be recognized only to the extent of any postpetition
diminution in value of the Secured Creditors' prepetition
collateral resulting from the Debtors' use of Cash Collateral
during this bankruptcy case.  The adequate protection provided in
this Order shall be in addition to, but without duplication of the
adequate protection provided to the Secured Creditors in any prior
orders authorizing use of cash collateral.

As adequate protection for the security interest of JPM, JPM is (i)
entitled to maintain an administrative hold on (x) $658,476 of cash
held in Debtors' operating account, less any amounts JPM may
release from administrative hold, and (y) all amounts held in the
CSB Collateral Accounts, and (ii) solely to the extent that any of
the amounts in (i)(x) or (i)(y) are determined to be PACA Trust
Assets and are paid to satisfy and PACA Claims, a senior, first
priority lien in the amount in the DIP Collateral.  The Debtors are
not authorized to use the JPM Cash Collateral.

A copy of the court order is available at:

           http://bankrupt.com/misc/mab16-13704-698.pdf

                         About Cosi Inc.

Cosi, Inc., is an international fast-casual restaurant company
featuring its crackly-crust flatbread and specializing in a variety
of made-to-order hot and cold sandwiches, salads, bowls, breakfast
wraps, "Squagels" (square bagels), melts, soups, flatbread pizzas,
S'mores, snacks, deserts and a large offering of handcrafted,
coffee-based, and specialty beverages.  

The company was first established in New York in 1996 and
incorporated in Delaware in 1998.  In 2002, Cosi became publicly
traded company on the Nasdaq exchange under the symbol "COSI".

Cosi and its subsidiaries filed Chapter 11 petitions (Bankr. D.
Mass. Lead Case No. 16-13704-MSH) on Sept. 28, 2016.  The cases are
assigned to Judge Melvin S. Hoffman.

Prior to the petition date, the Debtors had 72 debtor-owned
locations and 35 franchised locations and employed 1,555 people.

The Debtors tapped Joseph H. Baldiga, Esq., and Paul W. Carey,
Esq., at Mirick, O'Connell, DeMallie & Lougee, LLP, as counsel; DLA
Piper LLP (US) as special counsel; The O'Connor Group as financial
consultant; BDO USA, LLP, as auditor and accountant; and Randy
Kominsky of Alliance for Financial Growth, Inc., as chief
restructuring officer.  

The Office of the U.S. Trustee appointed an official committee of
unsecured creditors.  The committee is represented by Lee
Harrington, Esq., at Nixon Peabody LLP.  Deloitte Financial
Advisory Services LLP serves as its financial advisor.


COTT HOLDINGS: S&P Assigns 'B-' Rating on New $650MM Unsec. Notes
-----------------------------------------------------------------
S&P Global Ratings said it assigned its 'B-' issue-level rating and
'5' recovery rating to Cott Holdings Inc.'s proposed
US$650 million senior unsecured notes.  The '5' recovery indicates
S&P's expectation for modest (10%-30%; rounded estimate 25%)
recovery for lenders in the event of default.  Cott Holdings is a
subsidiary of Cott Corp. (collectively, Cott; B/Stable/--), whose
ratings are unaffected by the proposed transaction.

The proceeds from the notes, along with cash on hand, will be used
to repay the US$625 million 6.75% senior notes outstanding and pay
for fees, expenses, and a call premium of US$22 million.  The notes
will be issued by Cott Holdings and will rank pari passu to Cott's
other senior unsecured debt.  Following the redemption, S&P will
withdraw the existing issue level ratings on Cott's
US$625 million unsecured notes.

Due to higher-than-expected customer acquisition and operational
costs at DS Services and foreign exchange headwind, Cott's adjusted
EBITDA was below S&P's expectation for fiscal 2016, leading to
leverage above our threshold of 6x.  S&P believes the decline in
margin is temporary given the strong growth at DS Services; in
addition, S&P expects that full-year contribution from recent
acquisitions along with modest synergies should contribute to
higher earnings and positive free cash flows, which could be used
toward debt reduction.  Although leverage is expected to remain
elevated, S&P believes Cott has sufficient room in its EBITDA
interest coverage ratio of 2.5x-3.0x.  Nevertheless, S&P believes
Cott has to deliver stronger EBITDA growth and improve debt to
EBITDA to about 5.0x-6.0x to maintain its credit quality.

RATINGS LIST

Cott Corp.
Corporate credit rating              B/Stable/--

Ratings Assigned
Cott Holdings Inc.
US$650 mil. senior unsecured notes   B-
Recovery rating                     5 (25%)



CRESTWOOD MIDSTREAM: Moody's Assigns B1 Rating to $500MM Sr. Notes
------------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to Crestwood
Midstream Partners LP's (Crestwood) proposed $500 million Senior
Notes due 2025 (2025 Notes). Crestwood's other ratings, including
its Ba3 Corporate Family Rating (CFR), and negative outlook are
unchanged. The 2025 Notes are being offered to fund the redemption
of Crestwood's existing Senior Notes due 2020 and Senior Notes due
2022.

Issuer: Crestwood Midstream Partners LP

Assignments

$500 million Senior Unsecured Notes due 2025, Assigned B1 (LGD5)

RATINGS RATIONALE

The proposed $500 million 2025 Notes and the existing $700 million
2023 Notes are rated B1, one notch below the Ba3 Corporate Family
Rating, reflecting their effective subordination to Crestwood's
$1.5 billion senior secured revolving credit facility. There will
be $393 million of revolver borrowings outstanding, pro forma the
issuance of 2025 Notes and the redemption of 2020 Notes and 2022
Notes.

Crestwood intends to use the net proceeds from the 2025 Notes
offering and revolving credit facility borrowings to redeem the
outstanding $339 million of 2020 Notes and $436 million of 2022
Notes. Moody's views this transaction as credit neutral as the
overall debt burden of the company remains mostly unchanged.

Crestwood's Ba3 CFR is supported by the company's moderate
financial leverage as measured by the debt to EBITDA ratio, and the
expected worsening of this ratio by year-end 2017. Crestwood's 2016
EBITDA was slightly higher than Moody's projections; however,
Moody's outlook for 2017 EBITDA is slightly lower than 2016. The
decrease in 2017 EBITDA can be attributed to the joint venture of
its Northeast natural gas pipeline, and storage and transportation
business with Consolidated Edison, Inc. (ConEd, A3 stable) and the
volumes decline across Crestwood's systems.

The issuance of 2025 Notes is a leverage neutral transaction and
Moody's continues to project Crestwood's year-end 2017 debt to
EBITDA ratio to be in the 4.5x -- 5.0x range, and in the 5.0x --
5.5x range including the Crestwood Holdings LLC's (Holdings) debt.

Crestwood's Speculative Grade Liquidity (SGL) Rating of SGL-3
reflects Moody's expectation that Crestwood will have adequate
liquidity through 2017. Crestwood has a revolving credit facility
of $1.5 billion that matures in September 2020. Pro forma for the
2025 Notes issuance, approximately $393 million will be outstanding
under this revolving credit facility and the partnership will have
$694 million of available borrowing capacity considering the most
restrictive debt covenants in the credit agreement. Moody's expects
the partnership to be in compliance with its financial covenants
through 2017 and that it will be able to fund basic cash
obligations and maintenance capital expenditures and a portion of
the growth capital spending through internal sources and the
remaining growth capital spending can be funded through revolver
borrowings as needed.

The negative outlook reflects the continued uncertainty in
production volumes and potential weakening of Crestwood's EBITDA
due to weakened volumes in some of Crestwood's core operating
areas.

Crestwood's ratings could be downgraded if the volume declines are
significantly higher than expected resulting in leverage (debt to
EBITDA ratio) sustained above 5.5x or if liquidity weakens
materially. An increase of Holdings' debt could also trigger a
downgrade of Crestwood's ratings.

An upgrade of Crestwood could be considered if the volumes are
maintained across the Crestwood system resulting in Crestwood
leverage of less than 4.0x, family leverage (including Holdings
debt) of less than 5.0x and distribution coverage above 1.1x on a
sustained basis.

The principal methodology used in this rating was Global Midstream
Energy published in December 2010.

Crestwood is a wholly owned subsidiary of the master limited
partnership (MLP), Crestwood Equity Partners LP (CEQP). Crestwood
provides midstream solutions to customers in the crude oil, natural
gas liquids and natural gas sectors of the energy industry. Through
its ownership in CEQP, Holdings, a private holding company owned
primarily by a fund managed by First Reserve Corporation (First
Reserve), indirectly controls Crestwood.


CRESTWOOD MIDSTREAM: S&P Rates Proposed Sr. Unsecured Notes 'BB-'
-----------------------------------------------------------------
S&P Global Ratings said it assigned its 'BB-' issue-level rating
and '4' recovery rating to Crestwood Midstream Partners L.P.'s and
Crestwood Midstream Finance Corp.'s proposed senior unsecured note
offering due 2025.  The '4' recovery rating on the proposed notes
indicates S&P's expectation of average (30% to 50%; rounded
estimate: 30%) recovery in the event of a payment default.

The partnership intends to use net proceeds of the offering,
together with borrowings under its revolving credit facility, to
fund the tender of its existing 2020 and 2022 notes.  It expects to
use any remaining proceeds for general partnership purposes.  As of
Dec. 31, 2016, the company had about $1.5 billion of reported
debt.

Houston-based Crestwood Midstream Partners L.P. is a midstream
energy master limited partnership.  S&P's corporate credit rating
on Crestwood Midstream Partners is 'BB-', and the outlook is
negative.

Ratings List

Crestwood Midstream Partners L.P.
Corporate Credit Rating                        BB-/Negative/--

New Rating

Crestwood Midstream Partners L.P.
Crestwood Midstream Finance Corp.
Senior unsecured notes due 2025                BB-
  Recovery Rating                               4(30%)



CRYSTAL ENTERPRISES: Taps Ralph A. Somma as Labor Case Counsel
--------------------------------------------------------------
Crystal Enterprises, Inc. seeks approval from the U.S. Bankruptcy
Court for the District of Maryland to hire The Law Office of Ralph
A. Somma as its special counsel.

The firm will assist the Debtor in defending a case filed on Feb.
16 by its employee before the U.S. National Labor Relations Board.

Ralph Somma, Esq., will charge an hourly rate of $350 for his
services.  Travel time will be billed at a rate of $250 per hour.

The firm does not represent or hold any interest adverse to the
Debtor or its bankruptcy estate, according to court filings.

The firm can be reached through:

     Ralph A. Somma, Esq.
     The Law Office of Ralph A. Somma
     175 West Main Street, Suite One
     Babylon, NY 11701
     Tel: (631) 333-1239

                     About Crystal Enterprises

Crystal Enterprises, Inc. operates a food service company and is
located in Glenn Dale, Maryland.

The Debtor filed a Chapter 11 petition (Bankr. D. Md. Case No.
16-22565), on Sept. 19, 2016.  The petition was signed by Sandra
Thurman Custis, president.  The case is assigned to Judge Wendelin
I. Lipp.  At the time of filing, the Debtor disclosed total assets
of $114,844 and total liabilities of $3.36 million.  

The Debtor is represented by Rowena Nicole Nelson, Esq., at the Law
Office of Rowena N. Nelson, LLC.  

No trustee, examiner or official committee has been appointed in
the case.

On Feb. 20, 2017, the Debtor filed a disclosure statement, which
explains its proposed Chapter 11 plan of reorganization.  The plan
proposes to pay general unsecured creditors 13% of their claims.


CUMULUS MEDIA: Director Alexis Glick Will Retire from Board
-----------------------------------------------------------
The Board of Directors of Cumulus Media Inc. was advised that
Alexis Glick plans to retire from the Board at the end of her
current term and will not stand for re-election at the Company's
2017 annual meeting of stockholders.  The Board is evaluating
potential candidates to stand for election to succeed Ms. Glick,
according to a Form 8-K report filed with the Securities and
Exchange Commission.

                      About Cumulus Media

Atlanta, Georgia-based Cumulus Media Inc. --
http://www.cumulus.com/-- is a radio broadcasting company.  The
Company is also a provider of country music and lifestyle content
through its NASH brand, which serves through radio programming,
NASH Country Weekly magazine and live events.  Its product lines
include broadcast advertising, digital advertising, political
advertising and non-advertising based license fees.  Its broadcast
advertising includes the sale of commercial advertising time to
local, national and network clients.  Its digital advertising
includes the sale of advertising and promotional opportunities
across its Websites and mobile applications.  Its across the
nation platform generates content distributable through both
broadcast and digital platforms.

Cumulus Media put AR Broadcasting Holdings Inc. and three other
units to Chapter 11 protection (Bankr. D. Del. Lead Case No.
11-13674) in 2011 after struggling to pay off debt that topped
$97 million as of June 30, 2011.

Cumulus Media reported a net loss attributable to common
shareholders of $546 million on $1.16 billion of net revenue for
the year ended Dec. 31, 2015, compared to net income attributable
to common shareholders of $11.8 million on $1.26 billion of net
revenue for the year ended Dec. 31, 2014.

As of Sept. 30, 2016, Cumulus Media had $3.05 billion in total
assets, $2.99 billion in total liabilities and $51.39 million in
total stockholders' equity.

                          *     *     *

In December 2016, S&P Global Ratings lowered its corporate credit
ratings on Cumulus Media Inc. and its subsidiary Cumulus Media
Holdings Inc. to 'CC' from 'CCC'.  The rating outlook is negative.
"The downgrade follows Cumulus' announcement that it has offered
to exchange its 7.75% senior notes due 2019 for debt and common
stock in the company," said S&P Global Ratings' credit analyst
Jeanne Shoesmith.

In March 2016, Moody's Investors Service downgraded Cumulus Media
Inc.'s Corporate Family Rating to 'Caa1' from 'B3' and Probability
of Default Rating to 'Caa1-PD' from 'B3-PD'.  Cumulus' 'Caa1'
Corporate Family Rating reflects the company's excessive leverage
with debt-to-EBITDA exceeding 9.5x (including Moody's standard
adjustments) and Moody's revised expectation that debt-to-EBITDA
will remain elevated over the next 12 months due to continued
declines in network revenue and increased operating expenses more
than offsetting the benefits from an expected increase in station
group revenue and political ad sales in 2016.


CUMULUS MEDIA: Director Alexis Glick Will Retire From Board
-----------------------------------------------------------
The Board of Directors of Cumulus Media Inc. was advised that
Alexis Glick plans to retire from the Board at the end of her
current term and will not stand for re-election at the Company's
2017 annual meeting of stockholders.  The Board is evaluating
potential candidates to stand for election to succeed Ms. Glick,
according to a Form 8-K report filed with the Securities and
Exchange Commission.

                      About Cumulus Media

Atlanta, Georgia-based Cumulus Media Inc. --
http://www.cumulus.com/-- is a radio broadcasting company.  The
Company is also a provider of country music and lifestyle content
through its NASH brand, which serves through radio programming,
NASH Country Weekly magazine and live events.  Its product lines
include broadcast advertising, digital advertising, political
advertising and non-advertising based license fees.  Its broadcast
advertising includes the sale of commercial advertising time to
local, national and network clients.  Its digital advertising
includes the sale of advertising and promotional opportunities
across its Websites and mobile applications.  Its across the
nation platform generates content distributable through both
broadcast and digital platforms.

Cumulus Media put AR Broadcasting Holdings Inc. and three other
units to Chapter 11 protection (Bankr. D. Del. Lead Case No.
11-13674) in 2011 after struggling to pay off debt that topped
$97 million as of June 30, 2011.

Cumulus Media reported a net loss attributable to common
shareholders of $546 million on $1.16 billion of net revenue for
the year ended Dec. 31, 2015, compared to net income attributable
to common shareholders of $11.8 million on $1.26 billion of net
revenue for the year ended Dec. 31, 2014.

As of Sept. 30, 2016, Cumulus Media had $3.05 billion in total
assets, $2.99 billion in total liabilities and $51.39 million in
total stockholders' equity.

                          *     *     *

In December 2016, S&P Global Ratings lowered its corporate credit
ratings on Cumulus Media Inc. and its subsidiary Cumulus Media
Holdings Inc. to 'CC' from 'CCC'.  The rating outlook is negative.
"The downgrade follows Cumulus' announcement that it has offered
to exchange its 7.75% senior notes due 2019 for debt and common
stock in the company," said S&P Global Ratings' credit analyst
Jeanne Shoesmith.

In March 2016, Moody's Investors Service downgraded Cumulus Media
Inc.'s Corporate Family Rating to 'Caa1' from 'B3' and Probability
of Default Rating to 'Caa1-PD' from 'B3-PD'.  Cumulus' 'Caa1'
Corporate Family Rating reflects the company's excessive leverage
with debt-to-EBITDA exceeding 9.5x (including Moody's standard
adjustments) and Moody's revised expectation that debt-to-EBITDA
will remain elevated over the next 12 months due to continued
declines in network revenue and increased operating expenses more
than offsetting the benefits from an expected increase in station
group revenue and political ad sales in 2016.


DAKOTA PLAINS: Closes $10.85M Sale Transaction with BioUrja
-----------------------------------------------------------
The closing of the asset sale contemplated under the Asset Purchase
Agreement between Dakota Plains Holdings, Inc. and BioUrja Trading,
LLC, occurred on Feb. 28, 2017.  The Asset Sale was conducted
pursuant to the provisions of Sections 105, 363 and 365 of the
Bankruptcy Code and approved by the Court.  The Debtors received
total consideration of approximately $10.85 million, which was
substantially all cash.

As previously disclosed, the Court approved a "stalking horse"
asset purchase agreement, dated Dec. 19, 2016, and amended
Jan. 26, 2017, by and between the Debtors and BioUrja, pursuant to
which, subject to the terms and conditions of the Asset Purchase
Agreement, the Purchaser agreed to purchase substantially all of
the assets of the Debtors for a purchase price equal to
approximately $10.85 million.

The Company expects to file a plan of liquidation, which is
expected to be considered by the Court in May of 2017.  The Company
will now move forward with winding down and dissolving in
accordance with applicable law.  In light of the purchase price
paid, the Company expects that there will be no recovery by the
Company’s stockholders after payment to the Company's creditors.

              About Dakota Plains Holdings, Inc.

Dakota Plains Holdings, Inc. (NYSE MKT: DAKP) --
http://www.dakotaplains.com/--is an energy company operating the  

Pioneer Terminal transloading facility. The Pioneer Terminal is
centrally located in Mountrail County, North Dakota, for Bakken and
Three Forks related Energy & Production activity.

Dakota Plains Holding and six of its wholly owned subsidiaries
filed voluntary Chapter 11 petitions (Bankr. D. Minn. Lead Case No.
16-43711) on Dec. 20, 2016, initiating a process intended to
preserve value and accommodate an eventual going-concern sale of
Dakota Plains' business operations. The petitions were signed by
Marty Beskow, CFO. The cases are assigned to Judge Michael E.
Ridgway.

At the time of the filing, Dakota Plains Holdings disclosed $3.08
million in assets and $75.38 million in liabilities.

Baker & Hostetler LLP has been tapped as the Debtors' legal
counsel.  Ravich Meyer Kirkman McGrath Nauman & Tansey, A
Professional Association serves as co-counsel.  Canaccord Genuity
Inc. serves as the Debtors' financial advisor and investment
banker, Carlson Advisors as accountant, James Thornton as special
purpose counsel.

The U.S. Trustee has been unable to appoint an official unsecured
creditors committee.


DAUFUSKIE EMBARKMENT: Case Summary & 9 Unsecured Creditors
----------------------------------------------------------
Debtor: Daufuskie Embarkment, LLC
        145 South 400 East
        Salt Lake City, UT 84111

Case No.: 17-01146

Chapter 11 Petition Date: March 7, 2017

Court: United States Bankruptcy Court
       District of South Carolina (Charleston)

Debtor's Counsel: Julio E. Mendoza, Jr., Esq.
                  NEXSEN PRUET, LLC
                  PO Drawer 2426
                  Columbia, SC 29202
                  E-mail: rmendoza@nexsenpruet.com

Total Assets: $0

Total Liabilities: $32.82 million

The petition was signed by James T. Bramlette, managing member.

A copy of the Debtor's list of nine unsecured creditors is
available for free at http://bankrupt.com/misc/scb17-01146.pdf


DE-TECH COLLISION: Asks Court to Approve Additional CSM Services
----------------------------------------------------------------
De-Tech Collision, Inc. asked the U.S. Bankruptcy Court for the
Eastern District of Michigan to authorize Clayson, Schneider &
Miller PC to represent the company in a case before the Wayne
County Circuit Court.

Clayson Schneider, which currently serves as De-Tech Collision's
bankruptcy counsel, will assist the company in litigating its
claims against Nancy Sobh and Bilal Chaaban for tortious
interference with business expectancy, conversion, breach of
fiduciary duty, and other possible related claims.  

The hourly rates charged by the firm are:

     Kenneth Schneider         $390
     Timothy Miller            $370
     Kimberly Ross Clayson     $280
     Peter Schneider           $240
     David Miller              $200

The principal attorney in the case will be Kimberly Ross Clayson,
according to court filings.

                     About De-Tech Collision

De-Tech Collision, Inc. filed a chapter 11 petition (Bankr. E.D.
Mich. Case No. 16-55398) on Nov. 14, 2016. The petition was signed
by Suzanne Chaaban, corporate officer.  The Debtor disclosed total
assets of $1.07 million and total liabilities of $230,650.

The Debtor is represented by Kimberly Ross Clayson, Esq., at
Clayson, Schneider & Miller PC.  Skillman Group, PLC serves as its
accountant.


DEWEY & LEBOEUF: Ex-Barclays Manager Says Scant Info Ended Pact
---------------------------------------------------------------
Jody Godoy, writing for Bankruptcy Law360, reports that former
Barclays Bank PLC relationship manager Andrew Johnman said at the
retrial of former Dewey & LeBoeuf LLP Executive Director Stephen
DiCarmine and Chief Financial Officer Joel Sanders that the bank
terminated in 2010 its lending relationship with the Firm.

The Firm did not fulfill requests for financial information, Law360
relates, citing Mr. Johnman, who now works at Societe Generale SA.

                      About Dewey & LeBoeuf

Dewey & LeBoeuf LLP sought Chapter 11 bankruptcy (Bankr. S.D.N.Y.
Case No. 12-12321) in 2012 to complete the wind-down of its
operations.  The firm had struggled with high debt and partner
defections.  Dewey disclosed debt of $245 million and assets of
$193 million in its chapter 11 filing late evening on May 29,
2012.

Dewey & LeBoeuf LLP operated as a prestigious, New York City-
based, law firm that traced its roots to the 2007 merger of Dewey
Ballantine LLP -- originally founded in 1909 as Root, Clark & Bird
-- and LeBoeuf, Lamb, Green & MacCrae LLP originally founded in
1929.  In recent years, more than 1,400 lawyers worked at the firm
in numerous domestic and foreign offices.

At its peak, Dewey employed about 2,000 people with 1,300 lawyers
in 25 offices across the globe. When it filed for bankruptcy,
only 150 employees were left to complete the wind-down of the
business.

Dewey's offices in Hong Kong and Beijing are being wound down.  The
partners of the separate partnership in England are in process of
winding down the business in London and Paris, and administration
proceedings in England were commenced May 28.  All lawyers in the
Madrid and Brussels offices have departed.  Nearly all of the
lawyers and staff of the Frankfurt office have departed, and the
remaining personnel are preparing for the closure.  The firm's
office in Sao Paulo, Brazil, is being prepared for closure and the
liquidation of the firm's local affiliate.  The partners of the
firm in the Johannesburg office, South Africa, are planning to wind
down the practice.

The firm's ownership interest in its practice in Warsaw, Poland,
was sold to the firm of Greenberg Traurig PA on May 11 for
$6 million.  The Pension Benefit Guaranty Corp. took $2 million of
the proceeds as part of a settlement.

Judge Martin Glenn oversees the case.  Albert Togut, Esq., at
Togut, Segal & Segal LLP, represents the Debtor.  Epiq Bankruptcy
Solutions LLC serves as claims and notice agent.  The petition was
signed by Jonathan A. Mitchell, chief restructuring officer.

JPMorgan Chase Bank, N.A., as Revolver Agent on behalf of the
lenders under the Revolver Agreement, hired Kramer Levin Naftalis
& Frankel LLP.  JPMorgan, as Collateral Agent for the Revolver
Lenders and the Noteholders, hired FTI Consulting and Gulf
Atlantic Capital, as financial advisors.  The Noteholders hired
Bingham McCutchen LLP as counsel.

The U.S. Trustee formed two committees -- one to represent
unsecured creditors and the second to represent former Dewey
partners.  The creditors committee hired Brown Rudnick LLP led by
Edward S. Weisfelner, Esq., as counsel.  The Former Partners hired
Tracy L. Klestadt, Esq., and Sean C. Southard, Esq., at Klestadt &
Winters, LLP, as counsel.

FTI Consulting, Inc., was appointed secured lender trustee for the
Secured Lender Trust.  Alan Jacobs of AMJ Advisors LLC, was named
Dewey's liquidation trustee.  Scott E. Ratner, Esq., Frank A.
Oswald, Esq., David A. Paul, Esq., Steven S. Flores, Esq., at
Togut, Segal & Segal LLP, serve as counsel to the Liquidation
Trustee.

Dewey's liquidating Chapter 11 plan was approved by the bankruptcy
court in February 2013 and implemented in March.  The plan created
a trust to collect and distribute remaining assets.  The firm
estimated that midpoint recoveries for secured and unsecured
creditors under the plan would be 58.4 percent and 9.1 percent,
respectively.


DEWEY & LEBOEUF: JPMorgan, et al., Willing to Lend Firm Millions
----------------------------------------------------------------
Stewart Bishop, writing for Bankruptcy Law360, reports that jurors
in the retrial of former Dewey & LeBoeuf LLP Executive Director
Stephen DiCarmine and Chief Financial Officer Joel Sanders heard
how banks including JPMorgan Chase & Co. were still willing to let
the Firm borrow millions of dollars in its final months, even as
partners were abandoning the Firm.

                      About Dewey & LeBoeuf

Dewey & LeBoeuf LLP sought Chapter 11 bankruptcy (Bankr. S.D.N.Y.
Case No. 12-12321) in 2012 to complete the wind-down of its
operations.  The Firm had struggled with high debt and partner
defections.  Dewey disclosed debt of $245 million and assets of
$193 million in its Chapter 11 filing late evening on May 29,
2012.

Dewey & LeBoeuf LLP operated as a prestigious, New York City-
based, law firm that traced its roots to the 2007 merger of Dewey
Ballantine LLP -- originally founded in 1909 as Root, Clark & Bird
-- and LeBoeuf, Lamb, Green & MacCrae LLP originally founded in
1929.  In recent years, more than 1,400 lawyers worked at the firm
in numerous domestic and foreign offices.

At its peak, Dewey employed about 2,000 people with 1,300 lawyers
in 25 offices across the globe. When it filed for bankruptcy,
only 150 employees were left to complete the wind-down of the
business.

Dewey's offices in Hong Kong and Beijing are being wound down.  The
partners of the separate partnership in England are in process of
winding down the business in London and Paris, and administration
proceedings in England were commenced May 28.  All lawyers in the
Madrid and Brussels offices have departed.  Nearly all of the
lawyers and staff of the Frankfurt office have departed, and the
remaining personnel are preparing for the closure.  The firm's
office in Sao Paulo, Brazil, is being prepared for closure and the
liquidation of the firm's local affiliate.  The partners of the
firm in the Johannesburg office, South Africa, are planning to wind
down the practice.

The firm's ownership interest in its practice in Warsaw, Poland,
was sold to the firm of Greenberg Traurig PA on May 11 for
$6 million.  The Pension Benefit Guaranty Corp. took $2 million of
the proceeds as part of a settlement.

Judge Martin Glenn oversees the case.  Albert Togut, Esq., at
Togut, Segal & Segal LLP, represents the Debtor.  Epiq Bankruptcy
Solutions LLC serves as claims and notice agent.  The petition was
signed by Jonathan A. Mitchell, chief restructuring officer.

JPMorgan Chase Bank, N.A., as Revolver Agent on behalf of the
lenders under the Revolver Agreement, hired Kramer Levin Naftalis
& Frankel LLP.  JPMorgan, as Collateral Agent for the Revolver
Lenders and the Noteholders, hired FTI Consulting and Gulf
Atlantic Capital, as financial advisors.  The Noteholders hired
Bingham McCutchen LLP as counsel.

The U.S. Trustee formed two committees -- one to represent
unsecured creditors and the second to represent former Dewey
partners.  The creditors committee hired Brown Rudnick LLP led by
Edward S. Weisfelner, Esq., as counsel.  The Former Partners hired
Tracy L. Klestadt, Esq., and Sean C. Southard, Esq., at Klestadt &
Winters, LLP, as counsel.

FTI Consulting, Inc., was appointed secured lender trustee for the
Secured Lender Trust.  Alan Jacobs of AMJ Advisors LLC, was named
Dewey's liquidation trustee.  Scott E. Ratner, Esq., Frank A.
Oswald, Esq., David A. Paul, Esq., Steven S. Flores, Esq., at
Togut, Segal & Segal LLP, serve as counsel to the Liquidation
Trustee.

Dewey's liquidating Chapter 11 plan was approved by the bankruptcy
court in February 2013 and implemented in March.  The plan created
a trust to collect and distribute remaining assets.  The firm
estimated that midpoint recoveries for secured and unsecured
creditors under the plan would be 58.4 percent and 9.1 percent,
respectively.


DOUBLE J FARMS: Case Summary & Unsecured Creditor
-------------------------------------------------
Debtor: Double J Farms, LLC
        4272 Joyner Swamp Rd
        Galivants Ferry, SC 29544

Case No.: 17-01132

Chapter 11 Petition Date: March 7, 2017

Court: United States Bankruptcy Court
       District of South Carolina (Charleston)

Judge: Hon. John E. Waites

Debtor's Counsel: Sean P. Markham, Esq.
                  MARKHAM LAW FIRM, LLC
                  PO Box 20074
                  Charleston, SC 29413-0074
                  Tel: 843-284-3646
                  Fax: 843-636-7499
                  E-mail: smarkham@markhamlawsc.com
                          sean@markhamlawsc.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Connie Hardwick, authorized
representative.

The Debtor listed Arborone, ACA as its unsecured creditor holding a
claim of $1.49 million.

A full-text copy of the petition is available for free at:

          http://bankrupt.com/misc/scb17-01132.pdf


DUPONT FABROS: S&P Raises CCR to 'BB' on Better Credit Metrics
--------------------------------------------------------------
S&P Global Ratings raised its corporate credit rating on DuPont
Fabros Technology Inc. (DFT) to 'BB' from 'BB-'.  The outlook is
stable.  At the same time, S&P revised its issue level ratings on
the company's unsecured notes to 'BB+' from 'BB'.  The recovery
rating on the notes is '2', indicating S&P's expectations for
substantial recovery in the event of default in the 70% to 90%
range (rounded estimate: 85%).

"The rating action reflects our view that DFT's strengthened credit
metrics will be sustainable over the next few years as a result of
favorable supply and demand dynamics for data center space, the
company's projects delivery schedule and funding requirements
likely to be funded with equity proceeds under its recently set ATM
program," said S&P Global Ratings credit analyst Fernanda
Hernandez.

Credit metrics strengthened as a result of DFT's broadening NOI and
equity raised during the year.  DFT, along with other
data-center–related companies, has seen its valuation favored by
the capital markets.  Additionally, DFT sold its underperforming
data center located in New Jersey for $123.5 million, the company
used the proceeds to redeem preferred shares and fund development
spending.  This transaction also contributed to enhance DFT's
financial metrics.  As of year-end 2016 debt to EBITDA and interest
coverage were 4.5x and 3.9x compared with 5.4x and 3.5x a year
before.  S&P expects debt to EBITDA and interest coverage will
remain in the low- to mid-5.0x and high-3.0x, respectively,
depending on the proportion of development the company is able to
fund with equity.

DFT's results at year-end 2016 were strong, supported by increasing
demand for space from DFT's tenant base.  DFT's portfolio was 99%
leased, including projects recently placed into service.
Double-digit revenue growth stems from the commencement of new
leases and new projects coming on line.

S&P believes DFT will continue to benefit from positive industry
fundamentals and that it will focus development completions of its
$850 million pipeline.  Its projects under construction were 29%
pre-leased as of Dec. 31, 2016, and are expected to be delivered by
2017.  DFT's newest developments have been refined to be flexible
for customized configurations.  This should represent an enhanced
competitive position as tenants have the ability to regulate power
density and lowering their fixed costs.

The stable outlook reflects S&P Global Ratings' view that DFT's
debt to EBITDA will remain in the low- to mid-5.0x area and
interest coverage will approach 4.0x, respectively over the next
two years.  Broadening NOI from its projects coming on line in 2017
and sustained strong operating performance on its properties in
service should support sound growth.

S&P could raise its ratings on DFT by one notch if the company
continues to expand its portfolio profitably and prudently by
developing in smaller phases and employing moderate pre-leasing,
while maintaining its recently strengthened leverage and debt
coverage measures.  Further reduction of debt to EBITDA below 4.5x
could result in an upgrade.  Although less likely and in a longer
term basis, further diversification of its tenant base such that
the top 3 tenants represent below 25% of ABR, could also lead to an
upgrade.

Although S&P believes a downgrade is unlikely in the near term, it
would consider lowering its ratings on DFT if a meaningful
development stumble or more aggressive-than-anticipated debt-funded
expansion pushes its debt to EBITDA above 7.0x.  A downgrade could
also be triggered by the company's inability to re-lease space to
one of its top tenants, which could result in significant
deterioration on the company's occupancy.



EASTERN OUTFITTERS: Hires Lincoln Partners as Investment Banker
---------------------------------------------------------------
Eastern Outfitters, et al., seek authorization from the U.S.
Bankruptcy Court for the District of Delaware to employ Lincoln
Partners Advisors LLC as investment banker, nunc pro tunc to the
February 5, 2017 petition date.

Lincoln Partners will perform financial and investment banking
services for the Debtors in connection with transactions as are
customary and appropriate in transactions of type, including on the
structure, negotiation strategy, valuation analyses, financial
terms, and other financial matters, including, as the Debtors
reasonably request:

The Debtors and Lincoln Partners agreed to these terms of
compensation:

   (a) Monthly Fee. A monthly non-refundable fee of $50,000, the
       first installment of which shall be earned and payable in
       cash upon execution of the Engagement Letter with each
       subsequent monthly fee being earned and payable in cash on
       each monthly anniversary of the First Monthly Fee Date.

   (b) Sale Transaction Fee. If a Sale Transaction is consummated
       during the term hereof or the period specified, a
       transaction fee equal to $500,000. The Sale Transaction Fee

       shall be earned, due and payable in cash at the time of the

       closing of the Sale Transaction.

   (c) Restructuring Transaction Fee. A transaction fee equal to
       $500,000 if a Restructuring Transaction is consummated
       during the term hereof or the period specified. A
       Restructuring Transaction Fee shall be, in addition to the
       Monthly Fee, earned, due and payable in cash at the time of

       the closing of a Restructuring Transaction.

   (d) Any Restructuring Fee earned by Lincoln Partners will be
       reduced by 100% of any Sale Transaction Fee paid to Lincoln

       Partners provided, however, that the Restructuring
       Transaction Fee shall never be reduced below zero.

   (e) In the event the Debtor requests that Lincoln Partners
       assist in a Financing Transaction for exit financing, such
       services shall be provided for an additional Financing
       Transaction Fee to be agreed by Lincoln Partners and the
       Debtor.

   (f) In the event that a single transaction could be
       characterized as a Sale Transaction, Financing Transaction,

       or Restructuring Transaction, only one Transaction Fee is
       payable and Lincoln Partners will be entitled to the
       highest of the applicable fees.

   (g) Expenses. The Debtors will also reimburse Lincoln Partners,

       upon request from time to time, for all reasonable out-of-
       pocket expenses incurred by Lincoln Partners during the
       term hereof, provided that the expenses will not exceed
       $10,000 and in the aggregate will not exceed $25,000
       without the Debtors' prior written consent.

Alexander W. Stevenson, managing director and head of the Special
Situations Group of Lincoln Partners, assured the Court that the
firm is a "disinterested person" as the term is defined in Section
101(14) of the Bankruptcy Code and does not represent any interest
adverse to the Debtors and their estates.

Lincoln Partners can be reached at:

       Alexander W. Stevenson
       LINCOLN PARTNERS ADVISORS, LLC
       500 West Madison Street, Suite 3900
       Chicago, IL 60661
       Tel: (312) 580-8339

                     About Eastern Outfitters

Headquartered in Meriden, Connecticut, Eastern Outfitters, LLC,
is the holding company of outdoor sports apparel and equipment
retailers Bob's Stores and Eastern Mountain Sports.

Eastern Outfitters, LLC, a/k/a Subortis Retail Group, LLC, along
with affiliates, filed for Chapter 11 bankruptcy protection
(Bankr.
D. Del. Lead Case No. 17-10243) on Feb. 5, 2017.  The petitions
were signed by Mark Walsh, chief executive officer.

Judge Laurie Selber Silverstein presides over the cases.

Eastern Outfitters, Subortis IP Holdings, and Eastern Mountain
Sports each estimated its assets and liabilities at between $100
million and $500 million each.

Robert G Burns, Esq., Jennifer Feldsher, Esq., and David M Riley,
Esq., and Mark E. Dendinger, Esq., at Bracewell LLP serve as the
Debtors' restructuring counsel.

Norman L. Pernick, Esq., Marion M Quirk, Esq., and Katharina
Earle, Esq., at Cole Schotz P.C. serve as the Debtors' Delaware
counsel.

Alixpartners, LLP, is the Debtors' turnaround advisor.  Lincoln
Partners Advisors LLC is the Debtors' financial advisor.  Kurtzman
Carson Consultants is the Debtors' claims and noticing agent.


ECLIPSE RESOURCES: Extends Bank of Montreal Credit Facility to 2020
-------------------------------------------------------------------
Eclipse Resources Corporation entered into a third amendment to the
Second Amended and Restated Credit Agreement, by and among the
Company, as borrower, Bank of Montreal, as administrative agent,
and each of the lenders.

The Amendment amends the Second Amended and Restated Credit
Agreement, dated as of June 11, 2015, as amended, to, among other
things, (i) extend the maturity date thereof to Feb. 24, 2020, (ii)
increase the borrowing base thereunder to $175 million, (iii)
replace the quarterly minimum interest coverage ratio therein with
a quarterly maximum ratio of Consolidated Total Funded Net Debt to
EBITDAX (as such terms are defined in the Credit Agreement) of 4.50
to 1.00, as determined in accordance with the Credit Agreement,
(iv) increase the Applicable Margin (as defined in the Credit
Agreement) applicable to loans, letters of credit participation
fees and undrawn facility fees and (v) require that 80% of the
total value of the Proved Developed Producing Reserves (as defined
in the Credit Agreement) of the Company and its restricted
subsidiaries reflected in the most recently delivered reserve
report be mortgaged as security for the obligations thereunder.

A full-text copy of the Third Amendment to Second Amended and
Restated Credit Agreement is available for free at:

                    https://is.gd/D6ERfm

                   About Eclipse Resources

Eclipse Resources Corporation is an independent exploration and
production company engaged in the acquisition and development of
oil and natural gas properties in the Appalachian Basin.  As of
Dec. 31, 2015, the Company had assembled an acreage position
approximating 220,000 net acres in Eastern Ohio.

The Company reported a net loss of $971 million in 2015, a net loss
of $183 million in 2014 and a net loss of $43.5 million in 2013.

As of Sept. 30, 2016, Eclipse Resources had $1.20 billion in total
assets, $593.65 million in total liabilities and $609.33 million in
total stockholders' equity.

                             *    *    *

As reported by the TCR on July 11, 2016, Moody's Investors Service
upgraded Eclipse Resources Corporation's Corporate Family Rating
(CFR) to Caa1 from Caa2 and Probability of Default Rating to
Caa1-PD from Caa2-PD.  "The upgrade to Caa1 reflects Eclipse's
improved liquidity and good visibility to fund a more robust
drilling program through 2017 than we had previously anticipated,
largely the result of $123 million in proceeds raised from its
equity issuance.  With considerable cash balances and improving
cash margins on its production, Eclipse is poised to return to a
production growth trajectory that should allow for meaningful
deleveraging," noted John Thieroff, Moody's VP-Senior Analyst.

In June 2016, S&P Global Ratings raised its corporate credit rating
on State College, Pa.-based Eclipse Resources Inc. to 'CCC+' from
'CC'.  "The rating action reflects our opinion that Eclipse is
unlikely to pursue further distressed debt transactions given the
lack of bondholders' appetite for a distressed exchange--as
demonstrated by the early termination of the company's exchange
offer in February--and the increase in its bond price over the past
three months," said S&P Global Ratings credit analyst Christine
Besset.


ELDORADO RESORTS: Moody's Hikes Corporate Family Rating to B1
-------------------------------------------------------------
Moody's Investors Service upgraded Eldorado Resorts, Inc.'s
Corporate Family Rating to B1, its Probability of Default Rating to
B1-PD, its existing $375 million senior unsecured notes to B3, and
its Speculative Grade Liquidity rating to SGL-1. At the same time,
Moody's assigned to Eagle II Acquisition Company LLC (Acquisition
Co.)- a wholly owned subsidiary of ERI - a Ba3 to both the proposed
7 year $1,450 million senior secured term loan and $300 million
revolver, and a B3 to the proposed 8 year $375 million senior
unsecured notes. This concludes the review of the company's ratings
for upgrade that commenced on September 19, 2016. The outlook is
stable. The ratings are subject to final terms and conditions.

The upgrade of ERI's CFR to B1 reflects the material increase in
scale in terms of revenues and the number of properties owned and
improved geographic diversification as a result of the Isle
acquisition. Pro-forma for the acquisition, ERI largest geographic
concentration will be in Missouri at 18% of property EBITDA. This
diversification mitigates earnings volatility from supply additions
and regional economic fluctuations. The upgrade also reflects the
reasonable pro-forma leverage on a debt/EBITDA basis which Moody's
estimates at about 5.7x (including $35M of cost synergies) for the
twelve month period ended December 31, 2016, as well as the ability
of the combined entities to generate free cash flow. "Given the
material increase in scale, the combined entities should be able to
achieve near and medium term synergies as they leverage marketing
capabilities and corporate efficiencies which will improve
profitability and cash flow generation", said Moody's Senior Vice
President Peggy Holloway.

Proceeds from the new senior secured term loan, the new senior
unsecured notes, cash on hand, asset sale proceeds, and ERI equity
consideration will be used to finance the acquisition of Isle of
Capri Casinos, Inc. (Isle) and to repay its existing debt as well
as ERI's existing bank credit facility. At the close of the
acquisition, ERI will assume the obligations of Acquisition Co. as
borrower and Acquisition Co. will become guarantor, as such,
Moody's will move these ratings to ERI at that time. The new debt
will close and fund into escrow in anticipation of pending
approvals from the regulatory gaming commission boards needed to
complete the acquisition - which is expected to occur in the second
quarter of 2017. During the escrow period, ERI is required to fund
interest into the escrow account monthly in advance. If the
escrowed funds are not released in connection with the acquisition
on or prior to June 19, 2016 or September 18, 2017 if the merger
agreement is extended, ERI will be required to redeem the notes and
repay the term loan. ERI's existing $375M 7% unsecured notes due
2023 will remain outstanding subject to completion of a consent
solicitation.

Upgrades:

Issuer: Eldorado Resorts, Inc.

-- Probability of Default Rating, Upgraded to B1-PD from B2-PD

-- Speculative Grade Liquidity Rating, Upgraded to SGL-1 from
    SGL-2

-- Corporate Family Rating, Upgraded to B1 from B2

-- Senior Unsecured Regular Bond/Debenture, Upgraded to B3(LGD5)
    from Caa1(LGD5)

Assignments:

Issuer: Eagle II Acquisition Company LLC

-- Senior Secured Bank Credit Facility, Assigned Ba3(LGD3)

-- Senior Unsecured Regular Bond/Debenture, Assigned B3(LGD5)

Outlook Actions:

Issuer: Eldorado Resorts, Inc.

-- Outlook, Changed To Stable

RATINGS RATIONALE

ERI's B1 Corporate Family Rating reflects that the material
increase in the company's scale and geographic diversification with
19 properties (pro forma for the Isle acquisition and planned sale
of two properties) located in 10 different states. The B1 also
reflects ERI's reasonable pro-forma leverage and good interest
coverage with debt/EBITDA of about 5.7x and EBIT to interest
expense of about 2.0x for the twelve months period ended December
2016. Moody's estimates that ERI's pro forma leverage will improve
to about 5.3x by fiscal year end 2017, driven by earnings growth
and the expectation that the company will use excess free cash flow
towards debt reduction. The rating is supported by ERI's very good
liquidity profile and a stable demand environment. Key credit
concerns are the management and operational challenge inherent in
an acquisition of this size - revenues and the number of owned
properties will more than double - and ERI's acquisition appetite.

The stable outlook reflects Moody's expectations that ERI will
maintain reasonable leverage and good interest coverage despite the
potential for further acquisitions. The stable outlook also
reflects the stable gaming demand in most of ERI's gaming markets
and improving profitability as the cost and revenue synergies
related to recent acquisitions and projects take hold.

A ratings upgrade would require completion of the integration of
recently acquired assets, an ability and willingness to maintain
debt/EBITDA under 4.5x, EBIT/interest around 2.5x and a stable
supply and operating environment in the company's gaming markets.

ERI's ratings could be downgraded if there is a sustained
deterioration in monthly gaming revenue trends in the company
gaming markets. Ratings could be downgraded if debt/EBITDA is
sustained above 5.75x or EBIT/interest drops below 1.5x.

The principal methodology used in these ratings was Global Gaming
Industry published in June 2014.



EM LODGINGS: U.S. Trustee Unable to Appoint Committee
-----------------------------------------------------
The Office of the U.S. Trustee on March 7 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of EM Lodgings, LLC.

                    About EM Lodgings L.L.C.

EM Lodgings L.L.C. dba Fairfield Inn & Suites East Peoria filed a
Chapter 11 petition (Bankr. C.D. Ill., Case No. 17-80150), on
February 6, 2017.  The Petition was signed by Gary E. Matthews,
manager.  The case is assigned to Judge Thomas L. Perkins.  The
Debtor is represented by Sumner Bourne, Esq., at Rafool, Bourne &
Shelby, P.C.  At the time of filing, the Debtor had both assets and
liabilities estimated at $1 million to $10 million each.


ENDLESS SALES: Hires Kutner Brinen as Attorneys
-----------------------------------------------
Endless Sales, Inc. dba Discount Forklift seeks authorization from
the U.S. Bankruptcy Court for the District of Colorado to employ
Kutner Brinen, P.C. as attorneys.

The Debtor requires Kutner Brinen to:

   (a) provide the Debtor with legal advice with respect to its
       powers and duties;

   (b) aid the Debtor in the development of a plan of
       reorganization under Chapter 11;

   (c) file the necessary petitions, pleadings, reports, and
       actions that may be required in the continued
       administration of the Debtor's property under Chapter 11;

   (d) take necessary actions to enjoin and stay until a final
       decree herein the continuation of pending proceedings and
       to enjoin and stay until a final decree herein the
       commencement of lien foreclosure proceedings and all
       matters may be provided under 11 U.S.C. section 362; and

   (e) perform all other legal services for the Debtor that may be

       necessary herein.

Kutner Brinen will be paid at these hourly rates:

       Lee M. Kutner             $500
       Jeffrey S. Brinen         $430
       Jenny M. Fujii            $340
       Keri L. Riley             $280
       Law Clerk                 $175
       Paralegal                 $75

Kutner Brinen will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Jeffrey S. Brinen, shareholder of Kutner Brinen, assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtor and its estate.

Kutner Brinen can be reached at:

       Jeffrey S. Brinen, Esq.
       Keri L. Riley, Esq.
       KUTNER BRINEN, P.C.
       1660 Lincoln Street, Suite 1850
       Denver, CO 80264
       Tel: (303) 832-2400
       Fax: (303) 832-1510
       E-mail: jsb@kutnerlaw.com

                    About Endless Sales, Inc.   

Endless Sales, Inc., d/b/a Discount Forklift d/b/a Discount
Forklift Brokers d/b/a Octane Forklifts, filed a Chapter 11
petition (Bankr. D. Colo. Case No. 17-11037) on February 13, 2017.

The petition was signed by Brian Firkins, president.  The case is
assigned to Judge Elizabeth E. Brown. The Debtor is represented by
Jeffrey S. Brinen, Esq. and Keri L. Riley, Esq. at Kutner Brinen,
P.C. At the time of filing, the Debtor disclosed total assets of
approximately $2.56 million and total liabilities in the amount of
$1.78 million.

A list of the Debtor's 10 unsecured creditors is available
for free at http://bankrupt.com/misc/cob17-11037.pdf  


EQUINIX INC: Fitch Assigns BB Rating to New Sr. Unsecured Notes
---------------------------------------------------------------
Fitch Ratings has assigned a 'BB/RR4' rating to Equinix, Inc.'s
proposed issuance of benchmark-size senior unsecured notes with
anticipated maturity of 10 years. Together with the EUR1 billion
term loan issued on Jan. 6, 2017, and anticipated equity issuance,
Equinix will use the proceeds to fund the previously announced $3.6
billion acquisition of data centers from Verizon. Equinix's
Long-Term Issuer Default Rating (IDR) is 'BB' with a Stable
Outlook.

Fitch's rating actions affect approximately $10.5 billion of total
debt, including the $1.5 billion undrawn revolving credit facility
(RCF) and $1.5 billion of capital leases. Fitch's rating and Stable
Outlook consider in large part the successful completion of a $1.75
billion common stock offering to fully fund the Verizon data
centers acquisition that is expected to close by mid-2017, and that
Equinix's leverage pro forma for the acquisition financing will
remain within the expectations of the current 'BB' IDR.

Equinix projects the acquired assets to generate $450 million in
revenues in the first 12 months, and $270 million in EBITDA,
implying EBITDA margin of 60%, above the current 45%. The higher
margin reflects the maturity and higher utilization of the Verizon
data centers and exclusion of G&A expenses from the acquisition.

The acquisition would increase the following in Equinix Americas'
operating profile:

-- Revenues by 26%;
-- EBITDA by 33%;
-- Number of IBXs by 53%;
-- Gross capacity (square feet) by 42%;
-- Verizon's portfolio of 900 customers in the acquired
    facilities;
-- Business relationships in government and energy sectors.

Key concerns for the acquisition include: Elevated leverage on a
near-term basis post-acquisition. Fitch anticipates Equinix to grow
its EBITDA in 2017 and 2018, and adjusted leverage to decline to
near 4.0x within the 12 to 18 months following the acquisition.

The ratings and Outlook are supported by Equinix's leading market
position and world-class reputation in data center colocation,
geographically diverse and network-dense footprint, central
position in the emerging hybrid cloud ecosystem, secular demand
drivers for data center outsourcing, recurring revenue and stable
customer base. Rating constraints include negative free cash flow
resulting from capital intensity and required REIT dividends,
modest expected deleveraging over the rating horizon, debt-funded
acquisitions, competitive nature of the data center industry and
low unencumbered asset coverage.

KEY RATING DRIVERS

Rating strengths include:

-- Scale, network density and reputation as a world-class premium

    colocation provider;
-- Increasing interconnection revenue mix is the positive driver
    for growth, profitability, and retention;
-- Stable business model highlighted by over 90% recurring
    revenue and churn consistently in the 2.0-2.5% range;
-- Low customer concentration - the company's largest and top 10
    customers account for 3.1% and 16.9% of total revenue,
    respectively.

Rating concerns include:

-- Capital intensity from the high cost of building new capacity;

    Fitch expects capital intensity in the mid-20% range over the
    rating horizon;
-- Required REIT dividends constrain FCF and limit ability to
    delever outside of EBITDA growth;
-- Low unencumbered asset coverage due mainly to the company
    leasing the majority of its square footage.

KEY ASSUMPTIONS

Fitch's key assumptions within Fitch ratings case for the issuer
include:

-- Organic revenue growth of about 10% to 11% over the rating
    horizon excluding the Verizon acquisition; Fitch assumes
    contribution from the acquisition to start after mid-2017
    with normalized growth rate of 3% as they are operating at a
    higher utilization rate;
-- Fitch assumes the higher EBITDA margin from the acquired
    assets to provide a one-time enhancement to Equinix's
    operating profile, and normalize thereafter;
-- Recurring capex to scale with the higher revenue forecast at
    4% of revenue; expansion capex of $50,000 per cabinet
    addition. Capex/revenue ratio in the mid-20% range over the
    rating horizon;
-- Dividend payout ratio of approximately 45% to 50% of AFFO;
-- FCF negative over the rating horizon; deficit financed through

    revolver draws;
-- Balanced financing between equity and debt to fund the balance

    of Verizon data center acquisition.

RATING SENSITIVITIES

Future developments that may, individually or collectively, lead to
a negative rating action include:

-- Debt-financed acquisitions that increase leverage or dilute
    margins; financial impact will be considered in context of
    strategic rationale;

-- Fitch's expectation of leverage (rent-adjusted) sustaining
    above 5.0x; or secured leverage sustaining above 3.0x;

-- Increased liquidity risk, potentially resulting from limited
    revolver availability as debt maturities approach.

Future developments that may, individually or collectively, lead to
a positive rating action include:

-- Fitch's expectation of leverage (rent-adjusted) sustaining
    below 4.0x;

-- Unencumbered asset coverage of about 2.0x;

-- Consistent positive free cash flow generation, but still
    allowing for sufficient capital investment to maintain market
    leadership and premium offering.

LIQUIDITY

Fitch believes that negative FCF over the rating horizon will cause
Equinix to rely heavily on external funding to support its
liquidity needs. As of Dec. 31, 2016, the company had $1.45 billion
available under its $1.5 billion revolver ($50.5 million LOCs and
$0 drawn). Required REIT dividend distributions will make it
difficult for Equinix to add meaningfully to its cash balance ($752
million of cash, cash equivalents and short-term investments as of
Dec. 31, 2016). Fitch expects that Equinix will limit its revolver
borrowings by raising new debt within the next few years. Failure
to do so may result in heightened liquidity risk as debt maturities
approach, and may result in a negative rating action.

While other REITs can often leverage unencumbered assets to address
liquidity needs, Equinix's data centers are mostly leased, limiting
sources of contingent liquidity. Its owned facilities, however, are
mainly in top global markets, which should imply a lower
capitalization rate in a sale or financing. Excluding Verizon,
Fitch estimates unencumbered asset coverage of unsecured debt of
about 1.2x, assuming a 25% discount to company-owned net operating
income (NOI) to account for ground leases on eight of its 31 owned
facilities (Equinix does not disclose NOI by facility). This figure
is subject to change, however, once there is more clarity around
pro forma owned asset composition and associated NOI. Equinix's
ability to leverage owned facilities may be limited by the
availability of mortgage capital for data centers, which is not as
deep compared with other commercial real estate property types.
Fitch believes Equinix's strong business and operating profile
characteristics described above provide key offsets to this risk.

Fitch currently rates Equinix as follow:

Equinix, Inc.
-- Long-Term IDR 'BB'; Outlook Stable;
-- $1.500 billion senior secured RCF 'BBB-/RR1';
-- Senior secured Term Loan A 'BBB-/RR1';
-- Senior secured Term Loan B 'BBB-/RR1';
-- $3,850 million of unsecured senior notes due 2020-2026
    'BB/RR4'.

Fitch rates the following:

-- New benchmark-size unsecured senior notes at 'BB/RR4'.

The Rating Outlook is Stable.



EQUINIX INC: Moody's Assigns B1 Rating to $1.1BB Unsecured Notes
----------------------------------------------------------------
Moody's Investors Service has assigned a B1 (LGD5) rating to
Equinix, Inc.'s proposed $1,125 million unsecured notes. The
proceeds will be used to fund Equinix's proposed $3.6 billion
purchase of certain data centers from Verizon Communications Inc.
or general corporate purposes. The unsecured notes offering
supplements the EUR1,000 mm term loan issuance completed in
January. Moody's does not expect Equinix's Ba3 corporate family
rating to change as a result of the Verizon transaction, primarily
because Equinix plans to raise equity to fund part of the purchase
price.

The company's plan to raise a substantial amount of new equity
helps balance what Moody's would otherwise view as a shareholder
friendly financial policy which features a high dividend payout
that results in annual cash flow deficits. Consistent use of equity
financing on a go forward basis, in conjunction with a pause in
large M&A activity, could enable Equinix to achieve a higher rating
despite its negative after-dividend cash flows. Moody's anticipates
that Equinix will complete the acquisition of assets from Verizon
by mid-2017.

Assignments:

Issuer: Equinix, Inc.

  -- Senior Unsecured Regular Bond/Debenture, Assigned B1 (LGD5)

RATINGS RATIONALE

Equinix's Ba3 Corporate Family Rating reflects its position as the
leading global independent data center operator offering
carrier-neutral data center and interconnection services to large
enterprises, content distributors and global internet companies.
The rating also incorporates the company's stable base of
contracted recurring revenues, its strategic real estate holdings
in key communications hubs and the favorable near-term growth
trends for data center services across the world. These positive
factors are offset by significant industry risks, intensifying
competition, an active M&A program and relatively high capital
intensity. The rating also reflects Moody's concerns that the
company's cash flow profile will remain under pressure due to the
high dividend associated with its REIT status such that it will
raise additional debt to finance its capital requirements for
dividends, M&A and capital investment.

Moody's could upgrade Equinix' ratings if the company is on track
to generate consistent positive free cash flow after dividends and
leverage can be sustained below 4x (Moody's Adjusted).
Alternatively, if Equinix can maintain moderate leverage and low
levels of secured debt while increasing the proportion of cash
flows generated from owned properties towards two-thirds of total
and reduce its annual cash flow deficits meaningfully, the rating
could be upgraded. As discussed above, follow on equity capital
issuance would demonstrate a balanced financial policy that is
supportive of a higher rating. The ratings could be downgraded if
leverage is sustained above 5x (Moody's adjusted) for an extended
timeframe.

The principal methodology used in this rating was Global
Communications Infrastructure Rating Methodology published in June
2011.

Headquartered in Redwood City, CA, Equinix, Inc. is the largest
publicly traded carrier-neutral data center hosting provider in the
world with operations in 41 markets across the Americas, EMEA and
Asia-Pacific.



EQUINIX INC: S&P Affirms 'BB+' CCR; Outlook Stable
--------------------------------------------------
S&P Global Ratings said it affirmed all ratings on Redwood City,
Calif.-based Equinix Inc., including the 'BB+' corporate credit
rating.  The outlook is stable.

At the same time, S&P assigned its 'BB+' issue-level rating and '3'
recovery rating to the company's proposed $1.125 billion unsecured
notes with an anticipated maturity of 10 years.  The '3' recovery
rating indicates S&P's expectation for meaningful recovery
(50%-70%; 60% rounded estimate) in a payment default scenario.

"The rating affirmation follows the company's announcement that it
will use a balanced mix of debt and equity to fund the $3.6 billion
acquisition of 29 data centers from Verizon, resulting in
S&P-adjusted debt to EBITDA remaining consistent with our
expectations for the rating in the mid-4x area in 2017 (up from
4.1x last quarter annualized)," said S&P Global Ratings credit
analyst Chris Mooney.

The stable outlook reflects S&P's expectation that debt to EBITDA
will remain in the mid-4x area in 2017, improving to the low-4x
area in 2018 as higher debt to fund capital investments,
acquisitions, and dividend distributions largely offset earnings
growth.



ERICKSON INC: Begins Solicitation of Votes for Reorganization Plan
------------------------------------------------------------------
Erickson Incorporated, a global provider of aviation services, on
March 8, 2017, disclosed that it has commenced a joint solicitation
of participation in its Rights Offering and votes on its Second
Amended Joint Plan of Reorganization.  Under the Rights Offering,
the Company will offer rights to purchase shares of reorganized
Erickson Inc. common stock and new term loans to certain eligible
holders of the Company's senior notes.

The Rights Offering will be "backstopped" by certain Investors
whereby each of the Investors has agreed, pursuant to the Backstop
Agreement, to purchase all Rights Offering Common Stock and Rights
Offering Second Lien Loans that are not purchased by other Eligible
note holders.  In exchange for the commitments under the Backstop
Agreement, the Company will pay to the Investors a nonrefundable
aggregate premium on the Plan Effective Date in additional shares
of New Common Stock.

President and CEO Jeff Roberts said, "Securing the $30 million new
capital commitment provided by the backstop agreement is a
significant development in our restructuring process.  This new
investment will enable Erickson to further invest in its operations
and prepare Erickson to emerge from Chapter 11."  He added, "The
backstop agreement is a strong endorsement from the Company's
secured creditors for the long term viability of our business and
the substantial value represented by our assets and employees."

The proposed Second Amended Plan of Reorganization, which is
currently being solicited for votes from the Company's creditors,
provides for a new, sustainable capital structure that
significantly reduces the pre-Chapter 11 filing debt levels, and
recapitalizes the Company through the backstopped rights offering.


A hearing for the Bankruptcy Court to consider confirmation of the
Plan is currently scheduled for March 21, 2017.

                         About Erickson

Founded in 1971, Erickson Incorporated --
http://www.ericksoninc.com/-- is a vertically-integrated  
manufacturer and operator of the powerful heavy-lift Erickson S-64
Aircrane helicopter, and is a leading global provider of aviation
services.

Erickson Incorporated, based in Portland, OR, and its affiliates
each filed a Chapter 11 petition (Bankr. N.D. Tex.; Erickson
Incorporated, Case No. 16-34393; Evergreen Helicopters
International, Inc., Case No. 16-34392; EAC Acquisition
Corporation, Case No. 16-34394; Erickson Helicopters, Inc., Case
No. 16-34395; Erickson Transport, Inc., Case No. 16-34396;
Evergreen Equity, Inc., Case No. 16-34397; Evergreen Unmanned
Systems, Inc., Case No. 16-34398) on Nov. 8, 2016.  The Hon.
Barbara J. Houser presides over the cases.  In its petition,
Erickson estimated $942.8 million in assets and $881.5 million in
liabilities.

The Debtors have hired Haynes and Boone, LLP as counsel; Imperial
Capital LLC, as investment banker; Alvarez & Marsal as financial
and restructuring advisor; and Kurtzman Carson Consultants as
claims and noticing agent.


EURO BOUTIQUE: Hires Luis Flores Gonzalez as Legal Counsel
----------------------------------------------------------
Euro Boutique Auto Group Inc. seeks authorization from the U.S.
Bankruptcy Court for the District of Puerto Rico to employ the Law
Offices of Luis D. Flores Gonzalez as legal counsel.

The Debtor's legal representation withdrew from this case on
November 18, 2016. The Debtor concluded that it will need a new
legal counsel in order to fully comply with its duties as Debtor
and in compliance of Order from the Court.

The Debtor requires the law firm to provide counseling and
representation in connection with the filing of the Schedules, the
Statement of Financial Affairs filed under Chapter 11, the payment
plan that will be proposed, the examination of the claims filed,
the Disclosure Statement and other matters.

The law firm will be paid at these hourly rates:

       Luis D. Flores Gonzalez     $200
       Legal Assistants            $60
       Paraprofessionals           $40

The law firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

The firm received a $3,000 retainer.

Luis D. Flores Gonzalez assured the Court that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code and does not represent any interest adverse to
the Debtor and its estate.

The law firm can be reached at:

       Luis D. Flores-Gonzalez, Esq.
       LAW OFFICES OF LUIS D. FLORES GONZALEZ
       80 Georgetti Street, Suite 202
       Rio Piedras, PR 00925
       Tel: (787) 758-3606
       E-mail: ldfglaw@yahoo.com

Euro Boutique Auto Group Inc., filed a Chapter 11 bankruptcy
petition (Bankr. D.P.R. Case No. 16-07887) on September 30, 2016,
disclosing under $1 million in both assets and liabilities. The
Debtor is represented by Luis D. Flores-Gonzalez, Esq.


EXCO RESOURCES: Wilbur Ross Quits to Join Trump Administration
--------------------------------------------------------------
EXCO Resources, Inc., announced the resignation of Wilbur L. Ross
from the Company's Board of Directors and the appointment of
Anthony R. Horton and Stephen J. Toy to the Board.

On Feb. 28, 2017, Mr. Ross delivered a letter to the Company
stating that, as a result of the confirmation by the U.S. Senate of
his appointment as Secretary of the U.S. Department of Commerce on
Feb. 27, 2017, he was required to step down from outside positions
and therefore he resigned from his positions as a member of the
Board and each of the Audit Committee, the Compensation Committee
and the Nominating and Corporate Governance Committee. The
investment funds managed by WL Ross & Co. LLC, who beneficially own
approximately 18% of the Company's outstanding common stock, will
not be required to divest their ownership in EXCO as a result of
Mr. Ross' appointment as Secretary of the U.S. Department of
Commerce or in connection with his resignation from the Board.

In order to fill the vacancy created by Mr. Ross' departure, the
Board, acting upon the recommendation of the Nominating and
Corporate Governance Committee, appointed Stephen J. Toy as a
member of the Board and each of the Audit Committee, the
Compensation Committee and the Nominating and Corporate Governance
Committee, effective March 1, 2017.  Mr. Toy currently serves as
the senior managing director and co-head of WL Ross.  He is also
Chairman of the Investment Committee of WL Ross and a member of WL
Ross' Management Committee.  Mr. Toy is one of the founding members
of WL Ross and has been involved in all phases of the firm's
development since its formation.  Over the last nineteen years, Mr.
Toy has been responsible for the execution of investments in the
automotive, media, telecommunication, banking, railcar leasing and
building materials sectors.  Mr. Toy currently serves on the board
of directors for Amalgamated Bank, Compagnie Europeenne de Wagons,
International Automotive Components Group, Permian Basin Materials
LLC and Plascar Participacoes SA.  From 1996 to 2000, he worked in
the Mergers & Acquisitions and Corporate Restructuring Group of
Rothschild Inc. and from 1994 to 1996 he worked in the Public
Finance Group at O'Brien Partners Inc.  Mr. Toy graduated summa cum
laude with a B.S. in Business Administration in 1994 from the State
University of New York at Albany.

In addition, the Board, acting upon the recommendation of the
Nominating and Corporate Governance Committee, also appointed
Anthony R. Horton as a member of the Board and each of the Audit
Committee, the Compensation Committee and the Nominating and
Corporate Governance Committee, effective March 1, 2017.  Mr.
Horton has been chief financial officer and executive vice
president of Energy Future Holdings Corp. since Oct. 3, 2016, and
has served as its treasurer and senior vice president since April
2014.  Prior to then, Mr. Horton served as senior vice president
and treasurer of Energy Future Holdings Corp. since Sept. 28, 2004,
and also served as its assistant secretary since May 2006. Mr.
Horton also currently serves as an officer of several subsidiaries
of Energy Future Holdings Corp., including serving as senior vice
president and treasurer at Energy Future Competitive Holdings
Company LLC, treasurer and assistant secretary at TXU Energy
Receivables Company LLC and senior vice president and treasurer of
Energy Future Intermediate Holding Company LLC.  In addition, Mr.
Horton has also served on the board of directors of several private
companies. Mr. Horton holds a B.B.A. in Management and Economics
from the University of Texas at Arlington and a Masters of
Professional Accounting and Finance from the University of Texas at
Arlington and Dallas.

                     About EXCO Resources

EXCO Resources, Inc. is an oil and natural gas exploration,
exploitation, development and production company headquartered in
Dallas, Texas with principal operations in Texas, North Louisiana
and the Appalachia region.

Additional information about EXCO Resources, Inc. may be obtained
by contacting Tyler Farquharson, EXCO's Vice President of Strategic
Planning, acting Chief Financial Officer and Treasurer, at EXCO's
headquarters, 12377 Merit Drive, Suite 1700, Dallas, TX 75251,
telephone number (214) 368-2084, or by visiting EXCO's Web site at
http://www.excoresources.com/         

As of Sept. 30, 2016, the Company had $685.99 million in total
assets, $1.52 billion in total liabilities and a total
shareholders' deficit of $837.59 million.

EXCO Resources reported a net loss of $1.19 billion for the year
ended Dec. 31, 2015, following net income of $120.7 million for the
year ended Dec. 31, 2014.

"We have recently experienced losses as a result of the recent
decline in oil and natural gas prices, and, as of December 31,
2015, we had negative shareholders' equity of $662.3 million, which
means that our total liabilities exceeded our total assets. We may
not be able to return to profitability in the near future, or at
all, and the continuing existence of negative shareholders' equity
may limit our ability to obtain future debt or equity financing or
to pay future dividends or other distributions.  If we are unable
to obtain financing in the future, it could have a negative effect
on our operations and our liquidity," the Company stated in its
annual report for the year ended Dec. 31, 2015.

                           *    *    *

As reported by the TCR on Oct. 19, 2016, S&P Global Ratings raised
its corporate credit rating on EXCO Resources Inc. to 'CCC+' from
'SD' (selective default).  The outlook is negative.  "The rating
action follows our review of EXCO's capital structure and liquidity
position following recent debt repurchases, and our expectations
for future restructuring actions," said S&P Global credit analyst
Christine Besset.

The TCR reported in December 2016 that Moody's Investors Service
downgraded EXCO Resources' (XCO) Corporate Family Rating to 'Ca'
from 'Caa2'.  "XCO's downgrade reflects its eroded liquidity
position which is insufficient to fully fund development
expenditures at the level required to stem ongoing production
declines," commented Andrew Brooks, Moody's vice president.
"Absent an injection of additional liquidity, the source of which
is not readily identifiable, EXCO could face going concern risk as
it confronts an unsustainable capital structure."


F.I.G BEACH CLUB: Case Summary & 10 Unsecured Creditors
-------------------------------------------------------
Debtor: F.I.G Beach Club, LLC
        145 South 400 East
        Salt Lake City, UT 84111

Case No.: 17-01145

Chapter 11 Petition Date: March 7, 2017

Court: United States Bankruptcy Court
       District of South Carolina (Charleston)

Debtor's Counsel: Julio E. Mendoza, Jr., Esq.
                  NEXSEN PRUET, LLC
                  PO Drawer 2426
                  Columbia, SC 29202
                  E-mail: rmendoza@nexsenpruet.com

Total Assets: $20,500

Total Liabilities: $31.91 million

The petition was signed by James T. Bramlette, managing member.

A copy of the Debtor's list of 10 unsecured creditors is available
for free at http://bankrupt.com/misc/scb17-01145.pdf


F.I.G. BEACH COTTAGES: Case Summary & 3 Unsecured Creditors
-----------------------------------------------------------
Debtor: F.I.G. Beach Cottages, LLC
        145 South 400 East
        Salt Lake City, UT 84111
Case No.: 17-01144

Chapter 11 Petition Date: March 7, 2017

Court: United States Bankruptcy Court
       District of South Carolina (Charleston)

Debtor's Counsel: Julio E. Mendoza, Jr., Esq.
                  NEXSEN PRUET, LLC
                  PO Drawer 2426
                  Columbia, SC 29202
                  E-mail: rmendoza@nexsenpruet.com

Total Assets: $0

Total Liabilities: $31.10 million

The petition was signed by James T. Bramlette, managing member.

A copy of the Debtor's list of three unsecured creditors is
available for free at http://bankrupt.com/misc/scb17-01144.pdf


F.I.G. DAUFUSKIE: Case Summary & 12 Unsecured Creditors
-------------------------------------------------------
Debtor: F.I.G. Daufuskie 1, LLC
        145 South East 400
        Salt Lake City, UT 84111

Case No.: 17-01143

Chapter 11 Petition Date: March 7, 2017

Court: United States Bankruptcy Court
       District of South Carolina (Charleston)

Debtor's Counsel: Julio E. Mendoza, Jr., Esq.
                  NEXSEN PRUET, LLC
                  PO Drawer 2426
                  Columbia, SC 29202
                  E-mail: rmendoza@nexsenpruet.com

Total Assets: $27,000

Total Liabilities: $34.81 million

The petition was signed by James T. Bramlette, managing member.

A copy of the Debtor's list of 12 unsecured creditors is available
for free at http://bankrupt.com/misc/scb17-01143.pdf


FANNIE MAE: Judge Sleet Rejects FHFA's Succession Assertions
------------------------------------------------------------
The Honorable Gregory M. Sleet rejected the Federal Housing Finance
Agency's assertions that it succeeded to all Fannie Mae
shareholders' rights.  Specifically, Judge Sleet ruled that a
shareholder lawsuit demanding access to the mortgage insurer's
books and records should go forward and should be handled by the
Delaware Chancery Court.  

Judge Sleet says:

   "The court is persuaded by the recent District of Columbia
   decision on sec. 4617(b)(2)(A).  Perry Capital LLC v. Mnuchin,
   No. 14-5243, 2017 WL 677589, at *24 (D.C. Cir. Feb. 21, 2017).
   That court found that sec. 4617(b)(2)(A) did not bar 'direct
   claims against and rights in the  [c]ompanies . . . during
   conservatorship.' Id. at *23.  The court does not find that
   all shareholder rights are categorically preempted by sec.
   4617(b)(2)(A).  The court also does not find that Plaintiffs
   cause of action is really one of federal law, or that
   Plaintiffs cause of action implicates a substantial federal
   issue that is an essential element of the state-law claim.  
   Thus, Plaintiff's Motion to Remand this case back to the
   Chancery Court is granted."

in Pagliara v. Fannie Mae, Civil Action No. 16-193 (D. Del.), in an
Order (Doc. 28) dated March 8, 2017.  

While this isn't an unwinding of the 2012 Net Worth Sweep imposed
by the Third Amendment to the Preferred Stock Purchase Agreement
between FHFA and the U.S. Treasury, shareholders were encouraged
that Judge Sleet sees some holes in the housing finance regulator's
interpretation of the Housing and Economic Recovery Act of 2008
that it says exempts anything it decides from judicial review.

                 About Fannie Mae and Freddie Mac

Federal National Mortgage Association (OTCQB: FNMA), commonly
known as Fannie Mae -- http://www.FannieMae.com/-- is a
government-sponsored enterprise (GSE) that was chartered by U.S.
Congress in 1938 to support liquidity, stability and affordability
in the secondary mortgage market, where existing mortgage-related
assets are purchased and sold.

A brother organization of Fannie Mae is the Federal Home Loan
Mortgage Corporation (FHLMC), better known as Freddie Mac.
Freddie
Mac (OTCBB: FMCC) -- http://www.FreddieMac.com/-- was established
by Congress in 1970 to provide liquidity, stability and
affordability to the nation's residential mortgage markets.
Freddie Mac supports communities across the nation by providing
mortgage capital to lenders.

During the time of the subprime mortgage crisis, on Sept. 6, 2008,
Fannie Mae and Freddie Mac were placed into conservatorship by the
U.S. Treasury.  The Treasury committed to invest up to $200
billion
in preferred stock and extend credit through 2009 to keep the GSEs
solvent and operating.  Both GSEs are still operating under the
conservatorship of the Federal Housing Finance Agency (FHFA).

In exchange for future support and capital investments of up to
$100 billion in each GSE, each GSE agreed to issue to the Treasury
(i) $1 billion of senior preferred stock, with a 10% coupon,
without cost to the Treasury and (ii) common stock warrants
representing an ownership stake of 79.9%, at an exercise price of
one-thousandth of a U.S. cent ($0.00001) per share, and with a
warrant duration of 20 years.


FANSTEEL INC: Court Rejects Panel's Bid to Terminate Exclusivity
----------------------------------------------------------------
Judge Anita Shoden entered a memorandum of decision in late
February 2017 in the bankruptcy case of Fansteel Inc., et al.,
rejecting a request to terminate the Debtors' exclusivity period.

The Official Committee of Unsecured Creditors filed a Motion to
Reduce Exclusivity Period and TCTM Financial, LLC, filed a joinder
to the Motion. The Debtors have objected to the request.

On deliberation, Judge Shoden concluded that the Committee failed
to meet its burden to establish cause to terminate Fansteel's
exclusivity period.

Nothing in the record suggests that Fansteel lacks good faith in
pursuing its reorganization efforts, the Court opined.

Accordingly, Fansteel's objection is sustained, and the Committee's
Motion and TCTM's Joinder are denied, the Court ordered.

                      About Fansteel

Headquartered in Creston, Iowa, Fansteel operates four business
units at four locations in the USA and one in Mexico with a
workforce of more than 600 employees.  Fansteel generated
approximately $87.4 million in revenue in 2015 on a consolidated
basis.  WDC contributes approximately 67% of Fansteel's sales.  The
rest of the sales are generated from Intercast, a division of
Fansteel, and other non-debtor subsidiaries, as disclosed in court
documents.

Fansteel, Inc., dba Fansteel Intercast, dba Fansteel Wellman
Dynamics, dba Fansteel American Sintered Technologies, Wellmand
Dynamics Corporation, and Wellman Dynamics Machinery & Assembly,
Inc., filed Chapter 11 petitions (Bankr. S.D. Iowa Lead Case No.
16-01823) on Sept. 13, 2016.  The petitions were signed by Jim
Mahoney, CEO.  The cases are assigned to Judge Anita L. Shodeen.
The Debtors disclosed total assets of $32.9 million and total debt
of $41.97 million.

The Debtors tapped Jeffrey D. Goetz, Esq. and Krystal R.
Mikkilineni, Esq., at Bradshaw, Fowler, Proctor & Fairgrave, P.C.,
as counsel; RSM US LLP as tax advisor; Jeffrey Sands and Dorset
Partners, LLC as business broker; and Mark J. Steger, Esq. at the
Clark Hill Law Firm as Environmental Counsel.

The U.S. Trustee for Region 12 on Sept. 23, 2016, appointed nine
creditors of Fansteel Inc. to serve on the official committee of
unsecured creditors.  The Official Committee has retained Morris
Anderson & Associates, Ltd., as financial advisor, and Archer &
Greiner, P.C. and Nyemaster Goode, P.C., as counsel.


FANSTEEL INC: Seeks More Time to Confirm Plan Thru June 10
----------------------------------------------------------
Fansteel Inc. and its debtor affiliates ask the Bankruptcy Court to
extend through June 10, 2017, their exclusive period to solicit
acceptances of their Chapter 11 plan.

The Debtors' current exclusive plan solicitation period will expire
on March 12, 2017.

The Debtors filed their Plans and Disclosure Statements on January
11, 2017.  They amended the Plan on February 16, 2017, upon the
receipt of plan objections.  Further objections to the Plan
documents were filed by TCTM Financial, LLC, and the Official
Committee of Unsecured Creditors.  The Debtors have reviewed those
objections and are currently finalizing Second Amended Disclosure
Statements and Plans, which they believe substantially address all
issues and concerns raised in the objections.

The Debtors thus seek the extension to enable them enough time to
solicit and gain acceptance of their respective Plans of
Reorganization.

The Debtors maintain that the extension is warranted because their
Amended Plans propose to pay General Unsecured Creditor's a 100%
Dividend, plus interest; they have moved far enough along in the
process to secure the New Senior Secured Credit Facility, that a
commitment of same can be secured before confirmation; and 510
Ocean Drive Debt Acquisition, LLC has executed an Acknowledgement
and Agreement to materially support the Debtors' Plans and provide
the New Value Equity Investment Cash prior to confirmation.

                       About Fansteel

Headquartered in Creston, Iowa, Fansteel operates four business
units at four locations in the USA and one in Mexico with a
workforce of more than 600 employees.  Fansteel generated
approximately $87.4 million in revenue in 2015 on a consolidated
basis.  WDC contributes approximately 67% of Fansteel's sales.  The
rest of the sales are generated from Intercast, a division of
Fansteel, and other non-debtor subsidiaries, as disclosed in court
documents.

Fansteel, Inc., dba Fansteel Intercast, dba Fansteel Wellman
Dynamics, dba Fansteel American Sintered Technologies, Wellmand
Dynamics Corporation, and Wellman Dynamics Machinery & Assembly,
Inc., filed Chapter 11 petitions (Bankr. S.D. Iowa Lead Case No.
16-01823) on Sept. 13, 2016.  The petitions were signed by Jim
Mahoney, CEO.  The cases are assigned to Judge Anita L. Shodeen.
The Debtors disclosed total assets of $32.9 million and total debt
of $41.97 million.

The Debtors tapped Jeffrey D. Goetz, Esq. and Krystal R.
Mikkilineni, Esq., at Bradshaw, Fowler, Proctor & Fairgrave, P.C.,
as counsel; RSM US LLP as tax advisor; Jeffrey Sands and Dorset
Partners, LLC as business broker; and Mark J. Steger, Esq. at the
Clark Hill Law Firm as Environmental Counsel.

The U.S. Trustee for Region 12 on Sept. 23, 2016, appointed nine
creditors of Fansteel Inc. to serve on the official committee of
unsecured creditors.  The Official Committee has retained Morris
Anderson & Associates, Ltd., as financial advisor, and Archer &
Greiner, P.C. and Nyemaster Goode, P.C., as counsel.


FIAC CORP: Panel Hires Higgs & Johnson as Special Counsel
---------------------------------------------------------
The Official Committee of Equity Security Holders of FIAC Corp., et
al. seeks authorization from the U.S. Bankruptcy Court for the
District of Delaware to retain Higgs & Johnson as special counsel
for the committee, nunc pro tunc to January 19, 2017.

The Committee seeks authority to retain Higgs & Johnson as its
special counsel regarding advice and representation in relation to
the Cayman Islands liquidation of Platinum Partners Funds, dealings
with the Joint Official Liquidations in the Cayman Islands and all
matters reasonably associated therewith.

Higgs & Johnson will be paid at these hourly rates:

       John M. Harris, partner         $650
       Partners                        $650
       Associates                      $575-$625
       Paralegals                      $250
       Legal Assistants                $150

Higgs & Johnson will also be reimbursed for reasonable
out-of-pocket expenses incurred.

John M. Harris, partner at Higgs & Johnson, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtor and its estate.

The Court will hold a hearing on the motion on March 21, at 1:30
p.m.  Objections were due March 2, 2017.

Higgs & Johnson can be reached at:

       John M. Harris, Esq.
       HIGGS & JOHNSON
       Willow House, 2nd Floor, Cricket Square
       P.O. Box 866
       Grand Cayman, KY1-1103 Cayman Islands
       Tel: (345) 949-7555
       Fax: (345) 949-8492
       E-mail: cayman@higgsjohnson.com

                       About FIAC Corp.

FIAC Corp. and its affiliated Debtors filed chapter 11 petitions
(Bankr. D. Del. Lead Case No. 16-12238) on October 10, 2016.  The
Debtors are represented by Matthew B. Lunn, Esq., Donald J. Bowman,
Jr., and Shane M. Reil, Esq., at Young Conaway Stargatt & Taylor,
LLP, and Paul V. Shalhoub, Esq., Jennifer J. Hardy, Esq., and Debra
C. McElligott, at Willkie Farr & Gallagher LLP.


FLAGLER INSTITUTE: Taps Brett Elam as Attorney
----------------------------------------------
Flagler Institute for Rehabilitation seeks authorization from the
U.S. Bankruptcy Court for the Southern District of Florida to
employ Brett A. Elam and The Law Offices of Brett A. Elam, P.A. as
attorney.

The Debtor requires Mr. Elam to:

   (a) advise Debtor of the requirements of the Bankruptcy Code,
       the Federal Rules of Bankruptcy Procedure, applicable local

       rules pertaining to the administration of the case and US
       Trustee Guidelines related to the daily operation of
       Debtor's business and administration of the estate;

   (b) represent Debtor in all proceedings before this Court;

   (c) negotiate with creditors, prepare and seek confirmation of
       a plan of reorganization and related documents, and assist
       Debtor with implementation of any plan; and

   (d) perform all other legal services for Debtor as may be
       necessary in connection with the case.

The law firm will be paid at these hourly rates:

       Attorneys                  $225-$375
       Assistants/Paralegals      $95-$135

The law firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Prior to the petition date, the Debtor agreed to pay and did pay a
retainer of $5,000.

Brett A. Elam assured the Court that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code and does not represent any interest adverse to the Debtor and
its estate.

Mr. Elam can be reached at:

       Brett A Elam, Esq.
       THE LAW OFFICES OF BRETT A. ELAM, P.A.
       105 S. Narcissus Avenue, Suite 802
       West Palm Beach, FL 33401
       Tel: (561) 833-1113
       Fax: (561) 833-1115
       E-mail: belam@brettelamlaw.com

Flagler Institute for Rehabilitation, Inc., based in West Palm
Beach, Fla., filed a Chapter 11 petition (Bankr. S.D. Fla. Case No.
17-11433) on February 3, 2017. The Hon. Erik P. Kimball presides
over the case.  Brett A Elam, Esq., at The Law Offices of Brett A.
Elam, P.A., as bankruptcy counsel.

In its petition, the Debtor estimated $1 million to $10 million in
both assets and liabilities. The petition was signed by Kevin
Kunkel, president.

A list of the Debtor's 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/flsb17-11433.pdf


FRESH ICE CREAM: Wants To Use FICC Lender & SOS Capital's Cash
--------------------------------------------------------------
The Fresh Ice Cream Company LLC asks the U.S. Bankruptcy Court for
the Eastern District of New York to schedule a preliminary hearing
on the Debtor's motion requesting the use of cash collateral in
which FICC Lender, LLC, and S.O.S. Capital, Inc.

The Debtor proposes to use collateral only for ordinary and
necessary limited operating expenses in connection with the
ordinary operation of the Debtor's business substantially in
accordance with the operating budget, a copy of which is available
at http://bankrupt.com/misc/nyeb17-40716-5b.pdf

The proposed 13-week budget projects $595,240 in gross revenue and
$497,406 in accounts payable.

As of the Petition Date, the Debtor was indebted to FICC as
assignee of Empire State Certified Development Corporation in the
approximate outstanding amount of $426,918.  The Debtor submits
that the value of the Debtor's assets far exceed the Debtor's
indebtedness to FICC, providing the lender a substantial "equity
cushion".

As of the Petition Date, the Debtor believes it owes SOS the
approximate sum of $112,000.

As adequate protection for the Debtor's use of FICC's and SOS's
Collateral and in consideration for the use of the Collateral, the
Debtor will grant FICC and SOS replacement liens in all of the
Debtor's pre-petition and post-petition assets and proceeds,
including the Collateral and the proceeds of the foregoing, to the
extent that FICC and SOS had valid security interests in
pre-petition assets of this kind on the Petition Date and in the
continuing order of nature, extent, validity and priority that
existed as of the Petition Date.

A copy of the Motion is available at:

           http://bankrupt.com/misc/nyeb17-40716-5.pdf

                  About Fresh Ice Cream Company

The Fresh Ice Cream Company LLC owns and operates a frozen dairy
and non-dairy product distribution company under the well-known ice
cream brand name Steve’s Ice Cream.  The Debtor distributes high
quality frozen dairy and non-dairy products to over 12 national
retailers including Whole Foods throughout the Northeast and West
Coast.

Fresh Ice Cream sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 17-40716) on Feb. 17,
2017.  The petition was signed by David Stein, managing member.
The case is assigned to Judge Elizabeth S. Stong.

At the time of the filing, the Debtor disclosed $1.32 million in
assets and $6.31 million in liabilities.

Jonathan S. Pasternak, Esq., at Erica R. Aisner, Esq., at DelBello
Donnellan Weingarten Wise & Wiederkehr, LLP, serve as the Debtor's
bankruptcy counsel.


FYNDERS INC: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Fynders, Inc.
        171 West Boylston Street
        West Boylston, MA 01583

Case No.: 17-40400

Chapter 11 Petition Date: March 7, 2017

Court: United States Bankruptcy Court
       District of Massachusetts (Worcester)

Judge: Hon. Christopher J. Panos

Debtor's Counsel: David B. Madoff, Esq.
                  MADOFF & KHOURY LLP
                  124 Washington Street - Suite 202
                  Foxborough, MA 02035
                  Tel: 508-543-0040
                  Fax: 508-543-0020
                  E-mail: madoff@mandkllp.com
                          alston@mandkllp.com

Total Assets: $139,750

Total Liabilities: $2.21 million

The petition was signed by Kathleen McCormick, president.

A copy of the Debtor's list of 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/mab17-40400.pdf


GENERAL WIRELESS: RadioShack Stores Still Open for Business
-----------------------------------------------------------
General Wireless Operations Inc., doing business as RadioShack, the
neighborhood electronics convenience store, on March 8 disclosed
that the Company filed voluntary petitions under Chapter 11 in the
United States Bankruptcy Court for the District of Delaware.

RadioShack.com, stores and dealer locations across the country are
still currently open for business and serving customers.  The
Company is closing approximately 200 stores and evaluating options
on the remaining 1,300.  The Company and its advisors are currently
exploring all available strategic alternatives to maximize value
for creditors, including the possibility of keeping stores open on
an ongoing basis.

"For nearly 100 years, RadioShack has proudly served local
communities across the United States, offering consumers unique,
high-quality products at a great value," said Dene Rogers,
RadioShack's President and Chief Executive Officer.  "Over the
course of the past two years, our talented, dedicated team has
worked relentlessly in an effort to revitalize the Company and the
RadioShack brand, while providing outstanding service to our
customers.  We greatly appreciate their hard work and dedication."

He continued, "Since emerging from bankruptcy two years ago as a
privately owned company, our team has made progress in stabilizing
operations and achieving profitability in the retail business,
while our partner Sprint managed the mobility business.  In 2016,
we reduced operating expenses by 23%, while at the same time saw
gross profit dollars increase 8%.  Over the same time, we
integrated FedEx pickup / drop-off into 140 RadioShack locations,
delivered to customers over 700,000 Hulu login pins and sold more
than a million RadioShack private brand headphones and speakers
delivering high quality, value-based audio products to consumers
across the country.  However, for a number of reasons, most notably
the surprisingly poor performance of mobility sales, especially
over recent months, we have concluded that the Chapter 11 process
represents the best path forward for the Company.  We will continue
to work with our advisors and stakeholders to preserve as many jobs
as possible while maximizing value for our creditors."

Additional information for customers, vendors and other interested
parties is available at www.radioshack.com.  Court filings and
claims information are available at a separate web site maintained
by the Company’s claims agent, Prime Clerk, www.primeclerk.com or
by calling 212-257-5450.

Pepper Hamilton LLP and Jones Day are serving as legal advisors to
General Wireless.

                    About RadioShack Corporation

Headquartered in Fort Worth, Texas, RadioShack was a retailer of
mobile technology products and services, as well as products
related to personal and home technology and power supply needs.
RadioShack's retail network includes more than 4,300
company-operated stores in the United States, 270 company-operated
stores in Mexico, and approximately 1,000 dealer and other outlets
worldwide.

RadioShack Corp. and affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No. 15-10197) on Feb. 5, 2015, disclosing
total assets of $1.2 billion, versus total debt of $1.3 billion.

David G. Heiman, Esq., Greg M. Gordon, Esq., Amanda M. Suzuki,
Esq., Jonathan M. Fisher, Esq., Thomas A. Howley, Esq., and Paul M.
Green, Esq., at Jones Day served as the Debtors' bankruptcy
counsel.  David M. Fournier, Esq., Evelyn J. Meltzer, Esq., and
John H. Schanne, II, Esq., at Pepper Hamilton LLP served as
co-counsel.

Carlin Adrianopoli at FTI Consulting, Inc., is the Debtors'
restructuring advisor.  Maeva Group, LLC, is the Debtors'
turnaround advisor.  Lazard Freres & Co. LLC is the Debtors'
investment banker.  A&G Realty Partners is the Debtors' real estate
advisor.  Prime Clerk is the Debtors' claims and noticing
agent.

The Official Committee of Unsecured Creditors tapped Quinn Emanuel
Urquhart & Sullivan, LLP, and Cooley LLP as co-counsel, and
Houlihan Lokey Capital, Inc., as financial advisor and investment
banker.  

                           *     *     *

After an auction in March 2015, the Debtors sold most of the assets
to General Wireless, Inc., an entity formed by Standard General,
L.P., for $150 million.  The Debtors also sold Mexican assets to
Office Depot de Mexico, S.A. de C.V., for $31.8 million plus the
assumption of debt.  Regal Forest Holding Co. Ltd. bought the
Debtors' intellectual property assets in Latin America for a
purchase price of $5 million.

In June 2015, the Debtors changed their name to RS Legacy
Corporation, et al., following the sale of the Company's brand name
and customer data to General Wireless.

The bankruptcy judge on Oct. 2, 2015, issued an order confirming
the first amended joint plan of liquidation of the Debtors.  The
centerpiece of the Plan is the resolution of various disputes
among the Debtors, the Creditors' Committee and the SCP Secured
Parties.

The Plan was declared effective on Oct. 7, 2015.


GLOBAL COMMODITY: Case Summary & Unsecured Creditor
---------------------------------------------------
Debtor: Global Commodity Group Inc.
        Hacienda La Monserrate
        Calle Principal 119
        Manati, PR 00674

Case No.: 17-01589

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: March 8, 2017

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

Judge: Hon. Brian K. Tester

Debtor's Counsel: Maria Soledad Lozada Figueroa, Esq.
                  MS LOZADA LAW OFFICE
                  PO Box 9023888
                  San Juan, PR 00902
                  Tel: 787 533 1400
                  E-mail: msl@lozadalaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Ramon Nunez Freytes, president.

The Debtor listed CRIM as its unsecured creditor holding a claim of
$3,200,000.

A full-text copy of the petition is available for free at:

          http://bankrupt.com/misc/prb17-01589.pdf


GOING VENTURES: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Going Ventures, LLC
          d/b/a Going Aire, LLC
        5 Barracuda Lane
        Key Largo, FL 33037

Case No.: 17-12747

Chapter 11 Petition Date: March 7, 2017

Court: United States Bankruptcy Court
       Southern District of Florida (Miami)

Judge: Hon. Laurel M Isicoff

Debtor's Counsel: David R. Softness, Esq.
                  DAVID R. SOFTNESS, P.A.
                  201 S Biscayne Blvd #2740
                  Miami, FL 33131
                  Tel: 305.341.3111
                  E-mail: david@softnesslaw.com

Total Assets: $72,900

Total Liabilities: $1.01 million

The petition was signed by Carl Bradley Copeland, manager.

A copy of the Debtor's list of 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/flsb17-12747.pdf


GORDMANS STORES: Said to Prepare for Bankruptcy Filing
------------------------------------------------------
Lauren Coleman-Lochner and Jodi Xu Klein, writing for Bloomberg
News, reported that Gordmans Stores Inc., a Midwestern
department-store chain founded more than a century ago, is
preparing to file for bankruptcy, according to people familiar with
the matter.

According to the report, citing the people, the filing could come
as soon as this month.  Shares of the Omaha, Nebraska-based company
have fallen more than 75 percent in the past year, battered by
losses in five of the last six quarters, the report noted.

Gordmans would become the latest victim in a retail industry
suffering from sluggish mall traffic and a move by apparel shoppers
to the internet, the report pointed out.  The shift has been
especially rough on department stores, including regional chains
that once enjoyed strong customer loyalty, the report said.  Larger
competitors such as J.C. Penney Co., Macy's Inc. and Sears Holdings
Corp. also are closing hundreds of locations to cope with the
slump, the report related.

The growth of Gordmans, which traces its roots to 1915, when
Russian immigrant Sam Richman opened a clothing shop in Omaha, and
later teamed up with a former Bloomingdale's executive, Dan
Gordman, slowed in 2014, and losses began to mount, the report
further related.  The retailer has about $85 million in debt, with
much of it due in 2020, the report said.

The stock fell as much as 42 percent to 34 cents on March 6 after
Bloomberg reported on the possible bankruptcy filing.

Same-stores sales -- a closely watched benchmark -- fell more than
9 percent in the most recently reported quarter, the report said.
The company also announced job cuts in January, citing the
"sluggish retail environment," the report added.


GREEKTOWN HOLDINGS: Moody's Hikes Corporate Family Rating to B2
---------------------------------------------------------------
Moody's Investors Service upgraded the Corporate Family Rating of
Greektown Holdings LLC to B2 and the Probability of Default Rating
to B2-PD. Moody's also assigned a B2 rating to both the company's
proposed 5 year $50 million revolver and 7 year $375 million term
loan. The rating outlook is stable. The proceeds of the new bank
facility, cash on hand, and issuance of a $50M perpetual PIK
preferred note will be used to repay the company's existing senior
secured notes and related transaction expenses. As a result, there
will be an approximate $45 million net reduction in debt. The B3
rating on the company existing secured notes which will be
withdrawn upon closing of the proposed new bank facilities. The
ratings are subject to final terms and conditions.

"The upgrade of Greektown's CFR reflects the material improvement
in interest coverage to 2.3x from 1.0x due to the reduction in debt
and cash interest expense, a decline in adjusted debt/EBITDA to
5.1x from 5.6x combined with the demonstrated stability of the
Detroit gaming market," said Moody's Senior Vice President, Peggy
Holloway.

The term loan and revolver will be secured by all assets and will
be guaranteed by all domestic subsidiaries. The term loan will not
be subject to financial covenants; however the revolving credit
facility will be subject to a first lien net leverage ratio if
utilization exceeds 30%. Pursuant to the terms of the new credit
facilities, Greektown can obtain an incremental term loan in an
amount equal to $50 million plus an additional amount up to the
level that allows the company to maintain compliance with its net
debt/EBITDA covenants, as defined. These terms would allow
Greektown to repay the PIK preferred before the bank facilities
mature while preserving its pro-forma credit profile.

Upgrades:

Issuer: Greektown Holdings, LLC

-- Probability of Default Rating, Upgraded to B2-PD from B3-PD

-- Corporate Family Rating, Upgraded to B2 from B3

Assignments:

Issuer: Greektown Holdings, LLC

-- Senior Secured Bank Credit Facility, Assigned B2(LGD4)

Outlook Actions:

Issuer: Greektown Holdings, LLC

-- Outlook, Changed To Stable From Positive

RATINGS RATIONALE

Greektown's B2 Corporate Family Rating considers the company's
reliance on one gaming property, small scale in terms of revenues
and earnings relative to gaming peers. Additionally, Greektown's
two direct competitors -- MGM Grand Detroit and MotorCity have
consistently outperformed Greektown in the Detroit market in terms
of market share.

Ratings consider Greektown's reasonable leverage, and good interest
coverage -- about 5.1x and 2.3x, respectively, Detroit's stable
gaming market relative to other US regional markets, barriers to
entry as state law limits the number of casinos in the city to
three, and strong sponsorship. Greektown is indirectly
majority-owned by Dan Gilbert, chairman and founder of Quicken
Loans, and Jack Entertainment, LLC, another affiliate, provides
advisory services to the property. Jack Entertainment LLC also
manages three gaming facilities in Ohio owned by Mr. Gilbert.

The stable outlook reflects a benign supply environment, flat to
slightly higher gaming revenues and the company's ability to
generate positive free cash flow for debt reduction.

Upward rating action is limited given the company's single asset
profile and geographic concentration. A higher rating is possible
over the longer-term and would require that the company demonstrate
the ability and willingness to maintain debt/EBITDA below 4.0 times
in the context of a stable outlook for gaming demand. Ratings could
be lowered if monthly gaming revenues in Detroit exhibit sustained
declines or if debt/EBITDA increases above 6.0x.

Greektown Holdings, LLC (Greektown) owns and operates the Greektown
Casino-Hotel located in downtown Detroit, Michigan. The Greektown
Casino-Hotel is one of only three commercial casinos licensed to
operate in the State of Michigan and is majority-owned by Dan
Gilbert, the founder of Quicken Loans. For the LTM period ended
September 30, 2016, Greektown generated net revenues of
approximately $319 million.

The principal methodology used in these ratings was Global Gaming
Industry published in June 2014.



GREEN JANE: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Green Jane Inc.
          aka Growth Innovations Inc
          aka Cannabis Growth Innovations Inc
        13763 Fiji Way
        Marina Del Rey, CA 90292

Case No.: 17-12677

Type of Business: Leases cannabis-production facilities to
                  licensed cannabis growers, and provides business

                  services for marijuana entrepreneurs

Chapter 11 Petition Date: March 6, 2017

Court: United States Bankruptcy Court
       Central District of California (Los Angeles)

Judge: Hon. Ernest M. Robles

Debtor's Counsel: Philip H Stillman, Esq.
                  STILLMAN & ASSOCIATES
                  508 Meadowmist Ct Ste B
                  Olivehain, CA 92024
                  Tel: 888-235-4279
                  Fax: 888-235-4279
                  E-mail: pstillman@stillmanassociates.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million

The petition was signed by Michael B. Citron, chief executive
officer.

Debtor's List of 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Geoff Myernick (Coldstream Green        Note             $50,000
LLC)
7081 Stonington
Rd, Cincinnati, OH 45230
Tel: (513) 520-3121

George Cretella                         Note            $100,000

Elizabeth Fifer                         Note             $50,000

Matthew McNallan                        Note             $50,000

Baker & Hostetler LLP               Professional         $60,000
                                      Services

Ty Seufer                            Judgment             $90,000

Carmen Lopez                       Professional          $100,000
                                     services

James Wong                         Professional          $100,000
                                     services

Andrew Obermueller                 Professional          $100,000
                                     services

Elizabeth Pearce                   Professional          $100,000
                                     services

Richard Costanzo                      Note &             $300,000
1800 Alma Ave #407                 Professional
Walnut Creek CA 94596                services

William Beetz                      Professional          $100,000  
   
                                    services

Kris Dehnert                       Professional          $150,000
                                    services &
                                      Note

NuView (Helen Pachynsky)              Note               $100,000

Maria Kent                            Note                $30,000

Gomez Family Trust                    Note &             $200,000
                                  Professional
                                    services

Paula Garlinge Trust                  Note               $200,000

HRBenefix Co LLC                    Agreement            $250,000
720 S. Colorado Blvd Ste 40
Denver, CO 80246

BizBlueprint, Inc.                 Professional          $450,000
29455 Gulf Blvd Suite 5              services
Indian Shores, FL 33785

Green CO2 IP, LLC                    License          $20,734,780
204 N Link Lane Unit 2              Agreement &
Fort Collins, CO 80524                 Note


GRIMMETT BROTHERS: Disclosures OK'd; Plan Hearing on April 26
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas has
approved Grimmett Brothers, Inc.'s disclosure statement referring
to the Debtor's plan of reorganization.

A hearing to consider the confirmation of the Plan will be held on
April 26, 2017, at 1:30 p.m.  

Objections to the confirmation of the Plan must be filed by April
17, 2017, which is also the deadline for the ballots to be received
by the Debtor's counsel.

The deadline for the Debtor's attorney to mail Plan Package to
Matrix is March 6, 2017.

As reported by the Troubled Company Reporter on Feb. 2, 2017, the
Debtor filed the Plan on Jan. 26.  The Plan proposes to pay Class 6
unsecured creditors 100% of their allowed claims over a 10-year
period.

                     About Grimmett Brothers

Grimmett Brothers, Inc., was formed in 1944.  It is a family owned
Texas corporation that operates as a service company to the
oilfield, providing dirt, mud, gravel and caliche to oil drilling
sites.  The Debtor builds oil field location sites, roads, and
pits, among others, in preparation for the drilling.  The primary
facility is located at 1312 Avenue R, Snyder, Texas 79549.  The
Debtor also has two other locations in Andrews, Texas and Sterling
City, Texas.

Grimmett Brother's filed a Chapter 11 petition (Bankr. N.D. Tex.
Case No. 16-50183) on Aug. 26, 2016.  The petition was signed by
Billy Grimmett, president.  The Debtor is represented by Max Ralph
Tarbox, Esq., at Tarbox Law, P.C.  Judge Robert L. Jones presides
over the case.  The Debtor estimated $10 million to $50 million in
assets and $1 million to $10 million in liabilities at the time of
the filing.

Secured creditor West Texas State Bank is represented by Dax D.
Voss, Esq., at Field, Manning, Stone, Hawthorne & Aycock, P.C.


HAIMARK LINE: Disclosures OK'd; Plan Hearing on April 26
--------------------------------------------------------
The Hon. Joseph G. Rosania, Jr., of the U.S. Bankruptcy Court for
the District of Colorado has approved Haimark Line Ltd.'s second
amended disclosure statement, subject to the additional
disclosures, referring to the Debtor's first amended plan of
liquidation.

The Debtor will file the revised disclosure statement and plan by
March 10, 2017.

A hearing for consideration of confirmation of the Plan will be
held on April 26, 2017, at 10:00 a.m.  Objections to the
confirmation of the Plan must be filed by April 7, 2017.

By March 10, 2017, the Debtor will transmit to all creditors and
other parties-in-interest, a copy of (1) the court order, (2) the
Plan and approved Disclosure Statement, and (3) a Ballot for Voting
on the Plan.

The plan proponent will file with the Court by March 24, 2017, a
certificate of mailing reflecting service of the court order, the
Plan and approved Disclosure Statement, and the Ballot.

Voting ballot acceptances or rejections of the Plan must be
submitted by April 7, 2017, to the Debtor's counsel.

                       About Haimark Line

Haimark Line Ltd. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Colo. Case No. 15-22180) in Denver on
Oct. 30, 2015.  The petition was signed by Marcus Leskovar,
managing partner.  

The case is assigned to Judge Sidney B. Brooks.  The Debtor is
represented by Brownstein Hyatt Farber Schreck, LLP.

The Debtor estimated both assets and liabilities in the range of $1
million to $10 million.

On Dec. 20, 2016, the Debtor filed a Chapter 11 plan of
liquidation, which proposes to pay general unsecured creditors 40%
to 60% of the total amount of their claims allowed by the Court.


HARMAC CORP: Disclosures OK'd; Plan Hearing on March 30
-------------------------------------------------------
The Hon. Vincent F. Papalia of the U.S. Bankruptcy Court for the
District of New Jersey has approved HarMac Corp., et al.'s
disclosure statement dated Feb. 27, 2017, referring to the Debtors'
plan of reorganization.

A hearing to consider the confirmation of the Plan will be held on
March 30, 2017, at 11:00 a.m.  Objections to the Plan must be filed
by March 23, 2017.

March 23 is also the last day for filing written acceptances or
rejections of the Plan.

                        About HarMac Corp.

Headquartered in New Jersey, HarMac Corp., et al., are engaged in
the rental business owning four residential rooming houses
(specifically for low income individuals) with 69 units and
commercial office building located in Union County. The units
consist of studios and shared living spaces, and most rents are
subsidized.

HarMac Corp., Mary Street Housing, LLC, 111 Cherry Street, Inc.,
137 West 5th Associates, LLC and 301 3rd Street, LLC, each filed a
voluntary petition under Chapter 11 of the Bankruptcy Code (Bankr.
D.N.J. Lead Case No. 16-29568) on Oct. 13, 2016.  The Chapter 11
cases are jointly administered and are assigned to Judge Vincent F.
Papalia.

The Debtors are represented by Robert S. Roglieri, Esq., and
Richard D. Trenk, Esq., at Trenk, Dipasquale, Dellafera & Sodona,
P.C., in West Orange, New Jersey.  Bulin Associates, Inc. serves as
property manager.


HCSB FINANCIAL: Posts 2016 Net Income of $20 Million
----------------------------------------------------
HCSB Financial Corporation filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K reporting net
income available to common shareholders of $20.02 million on $12.36
million of total interest income for the year ended
Dec. 31, 2016, compared to a net loss available to common
shareholders of $1.75 million on $13.72 million of total interest
income for the year ended Dec. 31, 2015.

As of Dec. 31, 2016, HCSB Financial had $375.93 million in total
assets, $340.60 million in total liabilities and $35.32 million in
total shareholders' equity.

The Bank has unused availability at the Federal Home Loan Bank of
$52.3 million and an unsecured line of credit with a correspondent
bank available for overnight borrowing totaling $9.0 million;
however, the Bank's greatest source of liquidity resides in its
unpledged securities portfolio.  The book and market values of
unpledged securities available-for-sale totaled $66.0 million and
$64.0 million, respectively, at Dec. 31, 2016.  This source of
liquidity may be adversely impacted by changing market conditions,
reduced access to borrowing lines, or increased collateral pledge
requirements imposed by lenders.  The Bank has implemented a plan
to address these risks and strengthen its liquidity position.  To
accomplish the goals of this liquidity plan, the Bank will maintain
cash liquidity at a minimum of 4% of total outstanding deposits and
borrowings.  In addition to cash liquidity, the Bank will also
maintain a minimum of 15% off balance sheet liquidity.  These
objectives have been established by extensive contingency funding
stress testing and analytics that indicate these target minimum
levels of liquidity to be appropriate and prudent.

"The Company and the Bank operate in a highly-regulated industry
and must plan for the liquidity needs of each entity separately.  A
variety of sources of liquidity have historically been available to
the Bank to meet its short-term and long-term funding needs.
Although several these sources have been limited following
execution of the Consent Order (which was terminated on October 26,
2016), management has prepared forecasts of these sources of funds
and the Bank's projected uses of funds during 2017 in an effort to
ensure that the sources available are sufficient to meet the Bank's
projected liquidity needs for this period.

"Prior to the most recent economic downturn, the Company, if
needed, would have relied on dividends from the Bank as its primary
source of liquidity.  The Company is a legal entity separate and
distinct from the Bank.  However, various legal limitations
restrict the Bank from lending or otherwise supplying funds to the
Company to meet its obligations, including paying dividends.  In
addition, regulatory restrictions remaining following the
termination of the Consent Order further limit the Bank's ability
to pay dividends to the Company to satisfy its funding needs.

"We believe its liquidity sources are adequate to meet its needs
for at least the next 12 months."

A full-text copy of the Form 10-K is available for free at:

                     https://is.gd/TiIb1h

                     About HCSB Financial

Loris, South Carolina-based HCSB Financial Corporation was
incorporated on June 10, 1999, to become a holding company for
Horry County State Bank.  The Bank is a state chartered bank which
commenced operations on Jan. 4, 1988.  From its 13 branch
locations, the Bank offers a full range of deposit services,
including checking accounts, savings accounts, certificates of
deposit, money market accounts, and IRAs, as well as a broad range
of non-deposit investment services.  During the third quarter of
2011, the Bank closed its Covenant Towers branch located at Myrtle
Beach.  All deposits were transferred to the Bank's Myrtle Beach
branch and the Bank does not expect any disruption of service in
that market for its customers.

                           *   *    *

This concludes the Troubled Company Reporter's coverage of HCSB
Financial until facts and circumstances, if any, emerge that
demonstrate financial or operational strain or difficulty at a
level sufficient to warrant renewed coverage.


HELLO NEWMAN: Trustee Taps Togut Segal as Legal Counsel
-------------------------------------------------------
The Chapter 11 trustee for Hello Newman Inc. seeks approval from
the U.S. Bankruptcy Court for the Southern District of New York to
hire his own firm as legal counsel.

Albert Togut, the bankruptcy trustee, proposes to hire Togut, Segal
& Segal LLP to give legal advice regarding his duties under the
Bankruptcy Code, investigate the Debtor's financial affairs, assist
in any sale of property, and provide other legal services.

The hourly rates charged by the firm range from $695 to $990 for
partners, $630 to $730 for counsel, $320 to $570 for associates,
and $195 to $335 for paralegals and law clerks.

Togut Segal is a "disinterested person" as defined in section
101(14) of the Bankruptcy Code, according to court filings.

The firm can be reached through:

     Neil Berger, Esq.
     Albert Togut, Esq.
     Togut, Segal & Segal LLP
     One Penn Plaza, Suite 3335
     New York, NY 10119
     Phone: (212) 594-5000

                        About Hello Newman

Hello Newman Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 16-12910) on October 17,
2016.  The petition was signed by Philip Hartman, secretary.  At
the time of the filing, the Debtor $14 million in assets and $4.69
million in liabilities.

The case is assigned to Judge Shelley C. Chapman.  The Debtor hired
Rosenberg, Musso & Weiner, LLP as its legal counsel.

The Office of the U.S. Trustee appointed Albert Togut as Chapter 11
trustee for the Debtor.


HEXION INC: Reports $97 Million Fourth Quarter Net Loss
-------------------------------------------------------
Hexion Inc. reported a net loss of $97 million for the three months
ended Dec. 31, 2016, compared to a net loss of $10 million for the
three months ended Dec. 31, 2015.  Net sales for the quarter ended
Dec. 31, 2016, were $758 million, a decrease of 17% compared with
$909 million in the prior year period.  The decline in reported net
sales was primarily driven by the impact of recent divestitures and
pass through of lower priced oil-driven feedstocks.  Net sales
declined 9% when adjusted for such recent divestitures, which
consisted of our Performance Adhesives, Powder Coatings, Additives
& Acrylic Coatings and Monomers business and interest in the
HA-International, LLC, a joint venture.

For the year ended Dec. 31, 2016, Hexion recognized a net loss of
$38 million compared to a net loss of $39 million for the year
ended Dec. 31, 2015.  Net sales for the year ended Dec. 31, 2016,
were $3.4 billion, a decrease of 17% compared with $4.1 billion in
the prior year period.  The decline in reported net sales was
primarily driven by the impact of recent divestitures, the
strengthening of the U.S. dollar against most other currencies and
the pass through of lower priced oil-driven feedstocks.  Net sales
declined 14% when adjusted for divestitures.

As of Dec. 31, 2016, Hexion had $2.05 billion in total assets,
$4.59 billion in total liabilities and a total deficit of $2.53
billion.

"We are pleased to report solid fourth quarter fundamental business
performance in-line with our previously announced preliminary
results," said Craig O. Morrison, chairman, president and CEO.  "In
particular, we continue to see solid growth in our Forest Products
Resins Division and are encouraged by the sequential improvements
we are seeing in our oilfield proppants business from trough
conditions in the second quarter.  Going forward, we remain focused
on accelerating the growth of our specialty product portfolio
through strategic capital investments, executing against structural
cost reduction initiatives and deleveraging Hexion's balance
sheet."

In mid-2016, the Company completed the closure of its Norco,
Louisiana facility and began sourcing epichlorohydrin under
long-term external supply agreements.  In total, the Company
expects to achieve $20 million of annualized savings from this
strategic initiative and realized $13 million as of year-end 2016.

In addition to the Norco closure, the Company has $9 million of
incremental, in-process cost savings related to manufacturing cost
reductions and $9 million in selling, general and administrative
cost savings.  As of Dec. 31, 2016, Hexion had $25 million of total
in-process cost savings, the majority of which it expects to be
achieved in 2017.

At Dec. 31, 2016, Hexion had total debt of approximately $3.5
billion compared to $3.8 billion at Dec. 31, 2015.  In addition, at
Dec. 31, 2016, the Company had $511 million in liquidity comprised
of $179 million of unrestricted cash and cash equivalents, $299
million of borrowings available under the Company's asset-backed
loan facility and $33 million of time drafts and availability under
credit facilities at certain international subsidiaries.  Hexion
expects to have adequate liquidity to fund its ongoing operations
for the next twelve months from cash on its balance sheet, cash
flows provided by operating activities and amounts available for
borrowings under its credit facilities.

In February 2017, Hexion issued $485 million aggregate principal
amount of 10.375% First Priority Senior Secured Notes due 2022 and
$225 million aggregate principal amount of 13.75% Senior Secured
Notes due 2022.  Upon closing of these offerings, Hexion satisfied
and discharged its obligations under the 8.875% Senior Secured
Notes due 2018 by irrevocably depositing the net proceeds from
these offerings, together with cash from its balance sheet, with
the trustee for the Old Senior Secured Notes for the purpose of
redeeming all of its outstanding Old Senior Secured Notes.  The Old
Senior Secured Notes will be redeemed on March 10, 2017.  In
addition, as part of the Senior Notes Offering, the Company
received extended revolving facility commitments under the ABL
facility in aggregate principal amount of $350 million with a
maturity in December 2021 and reduced the size of the ABL Facility
from $400 million to $350 million.

A full-text copy of the press release is available for free at:

                     https://is.gd/esLrKX

                       About Hexion Inc.

Hexion Inc., formerly known as Momentive Specialty Chemicals, Inc.,
headquartered in Columbus, Ohio, is a producer of thermoset resins
(epoxy, formaldehyde and acrylic).  The Company is also a supplier
of specialty resins for inks and specialty coatings sold to a
diverse customer base as well as a producer of commodities such as
formaldehyde, bisphenol A, epichlorohydrin, versatic acid and
related derivatives.

Hexion reported a net loss attributable to the Company of $40
million on $4.14 billion of net sales for the year ended Dec. 31,
2015, compared to a net loss attributable to the Company of $223
million on $5.13 billion of net sales for the year ended Dec. 31,
2014.

                          *     *     *

The TCR reported on Oct. 3, 2014, that Standard & Poor's Ratings
Services lowered its corporate credit rating on Momentive Specialty
by one notch to 'CCC+' from 'B-'.  "The downgrade follows MSC's
significant use of cash in the first half of 2014 and our
expectation that lackluster cash flow from operations and elevated
capital spending will cause free operating cash flow to be
significantly negative in 2014 and 2015," said Standard & Poor's
credit analyst Cynthia Werneth.

As reported by the TCR on Jan. 24, 2017, Moody's Investors Service
lowered the Corporate Family Rating (CFR) of Hexion Inc. to Caa2.
Hexion's Caa2 CFR reflects its elevated leverage of over 9 times,
weak cash flow from operations and negative free cash flow.


HILTON WORLDWIDE: Moody's Rates New $1.5BB Unsecured Notes 'Ba3'
----------------------------------------------------------------
Moody's Investors Service assigned a Ba3 rating to Hilton Worldwide
Finance, LLC's proposed $1.5 billion senior unsecured notes
offering. Hilton's Ba2 Corporate Family Rating, Ba2-PD Probability
of Default Rating, Ba1 Bank Credit Facilities rating, and Ba3
senior unsecured notes rating are unchanged. The rating outlook
remains stable.

Proceeds from the offering will be used to repay existing debt,
including Hilton's 5.625% senior notes due 2021 or its existing
TLB-1 tranche. Moody's views the transaction as a credit positive
as it will push out the maturity of a portion of its existing debt.
The redemption will also reduce Hilton's interest expense by
approximately $15 million annually.

The following ratings were assigned:

Proposed $1.5 billion GTD SR GLOBAL NOTES at Ba3 (LGD 5)

RATINGS RATIONALE

Hilton's Ba2 Corporate Family Rating ("CFR") reflects its large
scale (with over 800,000 rooms), its well-recognized brands, and
good diversification by geography and industry segment. The rating
also acknowledges its moderate leverage and good interest coverage.
Pro-forma for the spin-off of the real estate and timeshare
businesses, debt to EBITDA was 4.5x at December 31, 2016. Moody's
calculates debt to EBITDA as debt plus 5 x rent expense plus
under-funded pension liability plus 20% of performance guarantees
over EBITDA plus rent expense. Pro-forma EBITA to interest expense
is about 3.0 times. Also considered is that Hilton's remaining
business will be concentrated in the hotel management and franchise
business segment which Moody's views as being less exposed to
cyclical downturns given the low capital intensity, high operating
margins and level of base management fees of this business segment.
The rating is supported by Hilton's very good liquidity as provided
by its sizable free cash flow and $1 billion revolving credit
facility.

The stable outlook acknowledges that Moody's expects Hilton to
maintain a balanced financial policy and good liquidity. It also
acknowledges that Hilton has put in place a modest dividend and
will likely use free cash flow towards share repurchases.

Ratings could be upgraded should Hilton achieve and maintain
debt/EBITDA (Moody's adjusted basis) below 4.25 times and
EBITA/interest expense of at least 4.0 times. An upgrade would also
require Hilton maintaining a financial policy that supports credit
metrics remaining within these levels.

Ratings could be lowered should debt/EBITDA likely being sustained
above 4.75 times or EBITA to interest expense likely to remain
below 3.0 times.

Hilton Worldwide Holdings Inc. is a leading hospitality company
with over 4,900 managed, franchised, owned and leased hotels,
resorts and timeshare properties comprising over 800,000 rooms in
104 countries and territories. Affiliates of The Blackstone Group
L.P. own approximately 45.8% of Hilton. Hilton has announced a
transaction, expected to close this quarter, in which HNA will
acquire a 25% stake from Blackstone. Annual net revenues pro-forma
for the spin-offs are $3.3 billion.

The principal methodology used in this rating was Business and
Consumer Service Industry published in October 2016.



HILTON WORLDWIDE: S&P Rates Proposed $1.5BB Unsecured Notes 'BB+'
-----------------------------------------------------------------
S&P Global Ratings assigned a 'BB+' issue-level rating and '4'
recovery rating to Hilton Worldwide Holdings Inc.'s subsidiary
co-borrowers Hilton Worldwide Finance LLC and Hilton Worldwide
Finance Corp.'s proposed $1.5 billion aggregate unsecured notes due
2025 and 2027.  S&P expects that the proceeds from the proposed
transaction will be used to refinance the company's existing $1.5
billion senior notes due 2021, and recovery prospects for senior
noteholders are unchanged.  The '4' recovery rating on the
unsecured notes reflects S&P's expectation for average (30%-50%;
rounded estimate: 30%) recovery for lenders in the event of a
simulated payment default.

RATINGS LIST

Hilton Worldwide Holdings Inc.
Corporate Credit Rating                BB+/Positive/--

New Rating

Hilton Worldwide Finance LLC
Hilton Worldwide Finance Corp.
Notes due 2025
Senior Unsecured                       BB+
  Recovery Rating                       4 (30%)
Notes due 2027
Senior Unsecured                       BB+
  Recovery Rating                       4 (30%)



HUB HOLDINGS: Moody's Affirms B3 Corporate Family Rating
--------------------------------------------------------
Moody's Investors Service has affirmed the B3 corporate family
rating of Hub Holdings, LLC (Hub Holdings, and together with its
subsidiaries, Hub) following the announcement that Hub
International Limited (Hub International) will increase its senior
secured term loan by $375 million, mainly to refinance existing
borrowings. Net proceeds will be used to repay $300 million of
second-lien secured notes and approximately $60 million of
revolving credit borrowings, and pay related fees and expenses. The
rating agency changed Hub's rating outlook to stable from negative
based on the company's EBITDA growth and reduced financial leverage
over the past year, and expectations that the company will continue
to reduce leverage in the year ahead.

The pending refinancing changes Hub's overall funding mix,
resulting in a one-notch downgrade of Hub International's senior
secured term loan to B1 from Ba3. Moody's has affirmed the Caa2
ratings on the senior unsecured notes of Hub International and Hub
Holdings, and has assigned B1 ratings to group's US and Canadian
revolving credit facilities, which are being amended and extended.
Upon closing of the transaction, the rating agency will withdraw
the ratings from Hub's second-lien secured notes and its existing
revolving credit facilities, as these notes/facilities will be
repaid/terminated.

RATINGS RATIONALE

Hub's ratings reflect its solid market position in North American
insurance brokerage, good diversification across products and
geographic areas, and consistently strong EBITDA margins. These
strengths are tempered by the company's aggressive financial
leverage and limited fixed charge coverage. Moody's expects that
Hub will continue to pursue a combination of organic growth and
acquisitions, the latter giving rise to integration and contingent
risks (e.g., exposure to errors and omissions), although Hub has a
favorable track record in absorbing small and mid-sized brokers.

Moody's estimates that Hub's pro forma debt-to-EBITDA ratio, giving
effect to the proposed refinancing, standard accounting adjustments
and run-rate EBITDA from completed acquisitions, will be just under
8x, with (EBITDA - capex) interest coverage in the range of
1.5x-1.8x. The rating agency expects that Hub will gradually reduce
its leverage through EBITDA growth in 2017.

Factors that could lead to an upgrade of Hub's ratings include: (i)
debt-to-EBITDA ratio below 6x, (ii) (EBITDA - capex) coverage of
interest exceeding 2x, and (iii) free-cash-flow-to-debt ratio
exceeding 5%.

Factors that could lead to a rating downgrade include: (i)
debt-to-EBITDA ratio above 8x, (ii) (EBITDA - capex) coverage of
interest below 1.2x, or (iii) free-cash-flow-to-debt ratio below
2%.

Moody's has affirmed the following ratings (and loss given default
(LGD) assessments):

Hub Holdings, LLC:

Corporate family rating at B3;

Probability of default rating at B3-PD;

$380 million senior unsecured notes due July 2019 at
Caa2 (LGD6). (Hub Holdings Finance, Inc. is a co-issuer
of these notes with no other material activities.)

Hub International Limited:

$1.2 billion senior unsecured notes due October 2021 at Caa2
(LGD5).

Moody's has downgraded the following rating:

Hub International Limited:

$2.3 billion (including $375 million increase) senior secured term
loan maturing October 2020 to B1 (LGD2) from Ba3 (LGD2).

Moody's has assigned the following ratings:

Hub International Limited:

$250 million five-year senior secured revolving credit
facility (with springing maturity three months inside
senior secured term loan) at B1 (LGD2).

Hub International Canada West ULC:

C$15 million five-year senior secured revolving credit
facility (with springing maturity three months inside
Hub International senior secured term loan),
guaranteed by Hub International, at B1 (LGD2).

When the refinancing closes, Moody's will withdraw the ratings from
Hub's second-lien secured notes and its existing revolving credit
facilities, as these notes/facilities will be repaid/terminated.

The rating outlook for these entities is stable.

The principal methodology used in these ratings was Insurance
Brokers and Service Companies published in December 2015.

Based in Chicago, Illinois, Hub is a major North American insurance
brokerage firm providing property and casualty, life and health,
employee benefits, investment and risk management products and
services through offices located in the US, Canada and Puerto Rico.
The company generated total revenue of $1.6 billion for the 12
months through September 2016.



HUB INTERNATIONAL: S&P Affirms 'B' LT CCR After Loan Add-On
-----------------------------------------------------------
S&P Global Ratings said it affirmed its 'B' long-term corporate
credit rating on HUB International Ltd.  The outlook is stable.  At
the same time, S&P affirmed its 'B+' issue-level ratings on the
company's first-lien credit facilities (including a $250 million
revolver and $2.3 billion first-lien term loan) with a '2' recovery
rating.

"We are affirming our corporate credit rating on HUB because its
business fundamentals remain sound and we don't expect its
financial risk profile to be hurt by the add-on," said S&P Global
ratings credit analyst Joseph Marinucci.  S&P expects HUB to use
proceeds from the add-on to refinance $300 million in outstanding
9.25% second-lien secured notes due 2021 and repay $60 million in
estimated borrowings on the revolver.  HUB also amended and
extended its existing revolving facilities five years to February
2022 (subject to acceleration if term loan is not refinanced by
July 2020).  S&P assess the deal to be financial leverage neutral
and modestly beneficial to HUB's debt service capacity and
liquidity profile.  But its debt-intensive capital structure will
consist of a higher proportion of first-lien secured debt following
the add-on, modestly lowering recovery prospects on its first-lien
credit facilities in the event of default.

HUB's fair business profile reflects its participation and narrow
focus in the highly competitive, fragmented, and cyclical
middle-market insurance brokerage industry.  Its favorable market
position relative to peers, good product and geographic
diversification in its U.S. and Canadian markets, and successful
acquisition track record somewhat offset these risks.  Its highly
levered financial risk profile reflects its debt-intensive capital
structure and private-equity ownership.  While S&P expects HUB to
modestly deleverage in connection with cash flow from its
well-established and growing business platform, S&P believes its
financial policy will result in credit measures showing a highly
levered financial profile.

The stable outlook on HUB reflects S&P's expectation that the
company's established presence and acquisition-supported growth
strategy will drive sustained earnings and improved cash flow with
organic revenue growth in the low- to mid-single digits and
adjusted EBITDA margins above 30%.  S&P expects HUB's financial
profile to remain highly leveraged with debt to EBITDA of 7x-8x,
funds from operations to debt of 6%-8%, and EBITDA coverage of
2x-3x through year-end 2017.

S&P may lower its ratings within the next 12 months if organic
growth or cash flow generation deteriorates meaningfully,
indicating strained strategic execution and an increased risk of an
unfavorable combination of higher-than-expected financial leverage
and weaker-than-expected EBITDA coverage, such as financial
leverage above 8.5x and EBITDA coverage below 2.0x.

S&P may raise its ratings if HUB improves its competitive position
due to enhanced scale, scope, and diversity relative to peers, or
if its financial profile reflects a more-conservative and
sustainable posture of financial leverage of less than 6.5x and
EBITDA coverage of 3.0x-4.0x.



HUMBLE SURGICAL: Regions Wants to Intervene in Insurance Fraud Suit
-------------------------------------------------------------------
Ryan Boysen, writing for Law360, reports that Regions Bank Inc. has
asked a Texas federal court to let it intervene in an insurance
fraud suit between Aetna Inc. and Humble Surgical Hospital LLC.

According to Law360, Regions Bank said that its secured claim on
roughly $3.6 million owed by the hospital supersedes Aetna's
December $51 million judgment award.  Law360 recalls that Aetna
successfully upended the automatic stay and garnished the
Hospital's bank account -- reportedly leaving it with a balance of
negative $53 million -- to satisfy a judgment.

Headquartered in Houston, Texas, Humble Surgical Hospital, LLC,
operates as a multi-specialty surgical hospital.  It offers
surgical services in the areas of ENT, orthopedics, ophthalmology,
podiatry, plastics, pain management, chiropractics, spine, and
gastroenterology.  The company was founded in 2009 and is based in
Humble, Texas.

Humble Surgical Hospital, LLC (Bankr. S.D. Tex. Case No. 17-31078),
Humble Surgical Holdings, LLC (Bankr. S.D. Tex. Case No. 17-31079),
K & S Consulting ASC, LP (Bankr. S.D. Tex. Case No. 17-31080) and
K&S Consulting Management, LLC (Bankr. S.D. Tex. Case No. 17-31081)
filed separate Chapter 11 bankruptcy petitions on Feb. 24, 2017.
The petitions were signed by Jeffrey M. Anapolsky, chief
restructuring officer.

Humble Surgical Hospital estimated its assets at between $10
million and $50 million and its liabilities at between $50 million
and $100 million.

Humble Surgical Holdings estimated its assets at up to $50,000 and
liabilities at between $1 million and $10 million.

Judge David R Jones presides over the case.

Melissa Anne Haselden, Esq., and Edward L Rothberg, Esq., at Hoover
Slovacek LLP serve as the Debtors' bankruptcy counsel.

BVA Group Restructuring And Advisory LLC is the Debtors' financial
advisor.


IAMGOLD CORP: S&P Raises CCR to 'B+' on Strong Credit Metrics
-------------------------------------------------------------
S&P Global Ratings said it raised its long-term corporate credit
rating on Toronto-based gold producer IAMGOLD Corp. to 'B+' from
'B'.  The outlook is stable.

At the same time, S&P Global Ratings assigned its 'B+' issue-level
and '3' recovery ratings to the company's proposed US$500 million
of senior unsecured notes.  The '3' recovery rating on the senior
unsecured notes represents meaningful (50%-70%; rounded estimate
65%) recovery in the event of default.

"The upgrade primarily reflects the improvement in IAMGOLD's
recently reported financial results for 2016 and our view that the
company will maintain relatively stable credit measures in 2017,"
said S&P Global Ratings credit analyst Jarrett Bilous.

IAMGOLD's adjusted debt-to-EBITDA ratio was 2.3x at year-end 2016,
which was stronger than expected.  S&P estimates this ratio to
remain below 3x at least through 2017--consistent with its previous
upgrade trigger--and for the company to maintain strong liquidity.
S&P believes IAMGOLD is better positioned to manage gold price
volatility and the risks related to growth-related expenditures
following net debt reduction last year, and improvement in its cost
structure.

S&P revised its financial risk assessment on the company to
aggressive from highly leveraged based primarily on the prospective
improvement in IAMGOLD's core credit measures.  S&P expects the
company's debt position to be relatively stable, as the proposed
refinancing replaces existing notes.  S&P has also modestly
increased our earnings and cash flow estimates for 2017; IAMGOLD's
cash costs (including joint ventures) in 2016 were US$739 per
ounce--well below US$835 per ounce in 2015--and S&P expects them to
remain below US$800 per ounce, even when considering the high
proportion of rock hardness at the company's Rosebel (Suriname) and
Essakane (Burkina Faso) mines.  S&P continues to view IAMGOLD's
credit ratios as highly sensitive to gold margin fluctuations and
expect short-term price volatility to persist.  However, S&P
believes the company could generate core credit ratios that remain
commensurate with its ratings, including adjusted debt-to-EBITDA
below 4x, even if gold prices were to average US$1,100 per ounce in
2017.  

S&P believes IAMGOLD will maintain strong liquidity regardless of
whether it proceeds with the expansion of its Sadiola mine (41%
owned).  The expansion is contingent on Malian government approval,
and the company's share of initial capital costs is expected at
about US$200 million.  The company ended the year with US$652
million of cash, excluding US$111 million of restricted cash, and
S&P estimates it will generate close to breakeven free cash flow
this year.  As such, S&P believes IAMGOLD will have more than
sufficient funds to complete the proposed development and maintain
a large cash position.  Furthermore, the lack of debt maturities
for several years provides additional financial flexibility.  While
acquisitions remain a possibility, S&P believes IAMGOLD is
committed to maintaining relatively stable debt levels and a strong
cash position, and likely not averse to issuing equity (as
evidenced last year) if deemed necessary.

The stable outlook reflects S&P's expectation that the company will
generate an adjusted debt-to-EBITDA ratio below 3x over the next 12
months, and maintain strong liquidity despite a likely increase in
growth-related capital expenditures.

A negative rating action could result from higher-than-expected
cost pressure or lower average gold prices that lead to adjusted
debt-to-EBITDA above 4x that, combined with S&P's volatility
assessment, would commensurate with a highly leveraged financial
risk profile.  In addition, S&P would expect to downgrade the
company should there be significant deterioration in IAMGOLD's
liquidity position such that S&P no longer views it as strong.

Although unlikely over the next 12 months, S&P would consider an
upgrade if the company generated and sustained an adjusted
debt-to-EBITDA ratio below 2x.  In this scenario, S&P would expect
stable or lower debt levels combined with higher production at cash
costs below S&P's current estimates.  An improvement in the
company's business risk profile, likely from increased operating
breadth or sustainably lower cash costs relative to peers, could
also lead to an upgrade.



JIM HANKINS AIR: Taps Craig M. Geno as Legal Counsel
----------------------------------------------------
Jim Hankins Air Service, Inc. seeks approval from the U.S.
Bankruptcy Court for the Southern District of Mississippi to hire
legal counsel in connection with its Chapter 11 case.

The Debtor proposes to hire the Law Offices of Craig M. Geno, PLLC
to give legal advice regarding contract negotiations, evaluate
claims of creditors, advise the Debtor on any proposed bankruptcy
plan, and provide other legal services.

The hourly rates charged by the firm are:

     Craig Geno     $400
     Associates     $250
     Paralegals     $175

Mr. Geno disclosed in a court filing that his firm does not
represent any interest adverse to the Debtor or its bankruptcy
estate.

The firm can be reached through:

     Craig M. Geno, Esq.
     Jarret P. Nichols, Esq.     
     Law Offices of Craig M. Geno, PLLC
     587 Highland Colony Parkway
     P.O. Box 3380
     Ridgeland, MS 39158-3380
     Phone: 601-427-0048
     Fax: 601-427-0050
     Email: cmgeno@cmgenolaw.com
     Email: jnichols@cmgenolaw.com
     
                  About Jim Hankins Air Service

Jim Hankins Air Service, Inc. sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. S.D. Miss. Case No. 17-00678) on
February 24, 2017.  The petition was signed by Bruce Moss,
vice-president.  At the time of the filing, the Debtor estimated
assets of less than $1 million and liabilities of less than
$50,000.


KAARS INC: Disclosures Conditionally OK'd; Plan Hearing on March 29
-------------------------------------------------------------------
The Hon. Kathryn C. Ferguson of the U.S. Bankruptcy Court for the
District of New Jersey has conditionally approved Kaars Inc.'s
disclosure statement dated Feb. 22, 2017, referring to the Debtor's
small business plan dated Feb. 22, 2017.

A hearing will be held on March 29, 2017, at 3:00 p.m. to consider
the final approval of the Disclosure Statement and confirmation of
the Plan.

Objections to the Disclosure Statement must be filed by March 22,
2017, which is also the last day for filing written acceptances or
rejections of the Plan.

                     About Kaars Incorporation

Kaars Incorporation aka Quality Auto, based in Trenton, N.J., filed
a Chapter 11 petition (Bankr. D.N.J. Case No. 16-22015) on June 21,
2016.   Scott Eric Kaplan, Esq., at Scott E. Kaplan, LLC, serves as
bankruptcy counsel.

In its petition, the Debtor declared $72,300 in total assets and
$1.93 million in total liabilities.  The petition was signed by
Isam Abuhumoud, vice president.  A list of the Debtor's eight
largest unsecured creditors is available for free at
http://bankrupt.com/misc/njb16-22015.pdf


KEEPERS INC: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Keepers, Inc.
        171 West Boylston Street
        West Boylston, MA 01583

Case No.: 17-40401

Chapter 11 Petition Date: March 7, 2017

Court: United States Bankruptcy Court
       District of Massachusetts (Worcester)

Judge: Hon. Christopher J. Panos

Debtor's Counsel: David B. Madoff, Esq.
                  MADOFF & KHOURY LLP
                  124 Washington Street - Suite 202
                  Foxborough, MA 02035
                  Tel: 508-543-0040
                  Fax: 508-543-0020
                  E-mail: madoff@mandkllp.com
                          alston@mandkllp.com

Total Assets: $20,200

Total Liabilities: $1.67 million

The petition was signed by Kathleen McCormick, president.

A copy of the Debtor's list of 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/mab17-40401.pdf


KENTISH TRANSPORTATION: Seeks to Hire Mason Bearden as Accountant
-----------------------------------------------------------------
Kentish Transportation, Inc. seeks approval from the U.S.
Bankruptcy Court for the Northern District of Alabama to hire an
accountant.

The Debtor proposes to hire Mason, Bearden & Diehl, Inc. to prepare
its financial statements and tax returns, and provide other
accounting services related to its Chapter 11 case.

The rates charged by the firm for these services are:

     Corporate Income Tax Return        $1,100
     Monthly Bookkeeping                  $250
     Monthly Payroll                      $140
     Quarterly Payroll Tax Returns        $100
     Other Services                  $100/Hour

Joseph Bearden, principal of Mason, disclosed in a court filing
that no member of his firm holds or represents any interest adverse
to the Debtor's bankruptcy estate, and that each member is a
"disinterested person" as defined in section 101(14) of the
Bankruptcy Code.

The firm can be reached through:

     Joseph Bearden
     Mason, Bearden & Diehl, Inc.
     4100 Bob Wallace Avenue
     Huntsville, AL 35805
     Phone: 256-533-0806
     Fax: 256-533-7742

                  About Kentish Transportation

Kentish Transportation, Inc. fka KTI Express Courier, based in
Huntsville, Ala., filed a Chapter 11 petition (Bankr. N.D. Ala.
Case No. 17-80242) on January 25, 2017.  The Hon. Clifton R. Jessup
Jr. presides over the case.  Stuart M Maples, Esq., at Maples Law
Firm, PC, as bankruptcy counsel.

In its petition, the Debtor declared $99,948 in total assets and
$1.11 million in total liabilities.  The petition was signed by
Cecilio Kentish, Jr., president/CEO.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/alnb17-80242.pdf


KHWY INC: Cash Use Deal With Secured Creditor Approved
------------------------------------------------------
The Hon. Bruce T. Beesley of the U.S. Bankruptcy Court for the
District of Nevada has approved the stipulation for KHWY Inc.'s
cash collateral use and adequate protection.

A final hearing on the Stipulation will be held on March 7, 2017,
at 9:30 a.m.

As reported by the Troubled Company Reporter on Feb. 20, 2017, the
Debtor requested the Court to approve its Stipulation with its
secured creditor, What's On Las Vegas, LLC, for the use of Cash
Collateral.  The Debtor and WOLV stipulate and agree that the
Debtor is authorized to use the revenue generated by the operation
of its Radio Stations to maintain the Debtor's operations and to
operate in the ordinary course of business pursuant to the proposed
Budget.  In addition to the amounts set forth in the Budget, the
Debtor is authorized to use cash collateral to pay to the Repp Law
Firm, as special FCC counsel to the Debtor, up to $5,500 for the
preparation of documents required to be filed with the FCC.  The
Debtor grants WOLV a postpetition replacement lien to the extent of
its use of cash collateral and other prepetition collateral and the
diminution in value of prepetition collateral as of the Petition
Date, in the same priority as existed prepetition, upon all
property of the Debtor and the Debtor's estate.  Additionally, WOLV
will have an allowed superpriority, administrative expense claim
with priority over all administrative expenses and unsecured claims
against the Debtor and its estate in the amount of the use of Cash
Collateral and the diminution in the value of its Pre-petition
Collateral as of the Petition Date.

The Debtor is indebted to WOLV in the amount of not less than
$544,266 as of Oct. 30, 2016.  The indebtedness is evidenced by,
among other things, a Secured Grid Note in the original amount of
$191,893, which is secured by a lien in substantially all of the
Debtor's assets and proceeds.

                            About KHWY

KHWY Inc., based in Las Vegas, NV, filed a Chapter 11 petition
(Bankr. D. Nev. Case No. 17-10530) on Feb. 7, 2017.  The petition
was signed by Kirk Anderson, managing member.  The case is assigned
to Judge Mike K. Nakagawa.  The Debtor is represented by Matthew L.
Johnson, Esq., at Johnson & Gubler, P.C.  In its petition, the
Debtor disclosed $645,000 in assets and $1.79 million in
liabilities.

The Debtor hired Repp Law Firm as special counsel; Spectrum Media,
LLC, as sales broker; and Aronson Professional Services, Inc., as
accountant.


LENEXA HOTEL: Wants Plan Exclusivity Period Extended Thru May 30
----------------------------------------------------------------
Lenexa Hotel LP asks the Bankruptcy Court to extend the time by
which it has the exclusive right to file a bankruptcy plan through
May 30, 2017, and the time by which it has the exclusive right to
solicit acceptances for that plan through July 31, 2017.

The Debtor contends that cause exists to allow the requested
extensions on size and complexity of issues involved in its case.
One of the Debtor's significant assets is a litigation claim
involving Holiday Hospitality Franchising LLC. The Debtor is
awaiting a ruling from the Kansas Federal District Court that will
shed light on the value of the Claim. In addition, the Debtor has a
mediation scheduled for the Claim.

The Debtor believes it has reasonable prospects for filing a viable
plan of reorganization and believes additional time will aid and
assist in developing and negotiating a comprehensive and beneficial
plan, as the additional time will allow it to make progress with
respect to the Claim.

                     About Lenexa Hotel

Lenexa Hotel, LP filed a Chapter 11 bankruptcy petition (Bankr.
D.Kans. Case No. 16-22172) on November 1, 2016.  In its petition,
the Debtor estimated $1 million to $10 million in assets and $10
million to $50 million in liabilities. The petition was signed by
Stephen J. Craig, president.

Lentz Clark Deines PA represents the Debtor as counsel. Brennan
Fagan and Fagan Emert & Davis, LLC and the Skepnek Law Firm have
been tapped as special counsel. Michele C. Hammann, SS&C Solutions,
Inc and Summers, Spencer & Company, P.A., serve as accountants.


LINEAGE LOGISTICS: Moody's Affirms B3 Corporate Family Rating
-------------------------------------------------------------
Moody's Investors Service affirmed its ratings for Lineage
Logistics, LLC., including the company's B3 Corporate Family Rating
(CFR) and its B3-PD Probability of Default rating. Moody's also
affirmed the B3 rating on Lineage's senior secured term loan due
2021. The rating outlook was changed to stable from negative.

RATINGS RATIONALE

The stable outlook incorporates improvements in Lineage's operating
results during 2016 along with the expectation that operating
performance and earnings growth will continue their positive
trajectory over the coming quarters. The stable outlook also
reflects the benefits of recent equity contributions and on-going
asset sales, proceeds of which, will be used to pay-down debt and
improve the company's highly leveraged balance sheet.

The B3 corporate family rating considers Lineage's strong market
position in a stable non-discretionary industry against the
company's highly leveraged balance sheet and adequate liquidity
profile that is weighed down by an aggressive investment strategy.
Lineage is the second largest provider of refrigerated storage
services in North America (footprint of almost 700 million cubic
feet) and operates in an industry with clear economies of scale
serving its large-sized but well-diversified customer base. Moody's
acknowledges Lineage's good competitive standing and steady demand
profile which provides considerable visibility and permits a more
leveraged capital structure than otherwise might be expected for
the rating. That said, the company's highly leveraged balance sheet
(pro forma Moody's adjusted Debt-to-EBITDA of around 7.5x) is very
much at the weaker end of the rating category and is seen as
curtailing near-term financial flexibility. Furthermore, Lineage's
aggressive growth-oriented strategy which involves significant
investments, well beyond the bounds of internally generated funds,
continues to result in an adequate liquidity profile characterized
by negative free cash flow and a reliance on external sources of
financing. Lineage's on-going efforts to improve operational
efficiency and execution, along with a greater focus on pricing and
new business wins have yielded positive results over the last few
quarters. The company's ability to sustain this momentum while
reducing leverage and moving towards an improved liquidity profile
will be important rating considerations going forward.

The ratings could be upgraded if Lineage were to strengthen its
balance sheet such that Moody's adjusted Debt-to-EBITDA was
expected to remain below 6.5x. An improved liquidity profile and
expectations of a prudent financial policy would be prerequisites
to any upgrade. The ratings could be downgraded if Moody's adjusted
Debt-to-EBITDA was expected to be sustained above 8.5x. Reversals
of recent operational improvements, the loss of a major customer,
or a sustained weakening of profitability such that EBITDA margins
were expected to remain in the low-20% range could also result in a
downgrade. A deterioration in the company's liquidity would also
place downward pressure on the rating.

The following summarizes rating action:

Issuer: Lineage Logistics, LLC.

Outlook changed:

Rating Outlook, to Stable from Negative

Ratings affirmed:

Corporate Family Rating, affirmed at B3

Probability of Default Rating, affirmed at B3-PD

Senior Secured Term Loan due 2021, affirmed at B3 (LGD 4, from LGD
3)

Lineage Logistics, LLC, headquartered in Irvine, CA, is one of the
largest providers of refrigerated storage services in North
America. Lineage is owned and managed by Bay Grove, a principal
investment firm. For the twelve months ended December 2016, the
company generated revenues of approximately $850 million.

The principal methodology used in these ratings was Business and
Consumer Service Industry published in October 2016.



MAXUS ENERGY: Occidental Chemical Tries to Block Disclosures OK
---------------------------------------------------------------
Occidental Chemical Corporation filed with the U.S. Bankruptcy
Court for the District of Delaware an objection to Maxus Energy
Corporation, et al.'s motion for approval of the disclosure
statement referring to the Debtors' plan of reorganization.

Occidental Chemical says that it joins in and independently adopts
the Committee of Unsecured Creditors' objection to the Debtors'
request for approval of the Disclosure Statement.  "For all the
reasons set forth in the Committee's Objection, the Court should
reject the solicitation and voting procedures set out in the
Disclosure Statement Motion and refuse any solicitation of the
Debtors' Plan on that basis," Occidental Chemical States.  

Occidental Chemical is particularly concerned by the confusion
surrounding the Debtors' proposed notice and tabulation procedures,
which could be constructed as depriving creditors holding disputed
claims of any right to vote on the Debtors' Plan, and grants the
Debtors and YPF undue influence on the voting process under Section
1126(c) of the Bankruptcy Code.  

According to Occidental Chemical, Exhibit 3 to the proposed
Disclosure Statement court order (Notice of Non-Voting Status to
Holders of Claims or Equity Interests For Which An Objection Has
Been Filed By The Debtors) states in relevant part: please take
further notice that you are receiving this notice because you are
the Holder of an Equity Interest or a Claim in a Voting Class that
has timely filed a Proof of Claim (or an untimely Proof of Claim
that has been allowed as timely by the Bankruptcy Court under
applicable law on or before the Voting Record Date), which is
subject, in whole or in part, to an objection filed by the Debtors.
As a result, you are not entitled to vote on the Plan for any
purpose and you have not been sent a Solicitation Package or
Ballot.

Taken at face value, if the Debtors decide to object to even the
smallest portion of a creditors' claim -- which the Debtors have
the broadest right to do under the Bankruptcy Code and the proposed
Disclosure Statement Order -- the creditor would be deprived of the
right to vote on the Debtors' Plan for any part of its claim.  The
text of the notice is furthermore in direct contradiction with the
tabulation procedures set out in the Disclosure Statement Motion
and the proposed Disclosure Statement Order, which state that "[i]f
the Debtors file an objection to a portion of a Claim, the
undisputed portion of such Claim shall be temporarily allowed for
voting purposes only and not for the purposes of allowance or
distribution []."  

The proposed tabulation procedures, according to Occidental
Chemical, also unduly restrict the vote for contingent and
unliquidated claims, in what appears to constitute a thinly-veiled
attempt to give the Debtors' parent, YPF Holdings, Inc., an
unwarranted blocking position over Class 4 (General Unsecured
Claims).  The tabulation procedures provide that, if a claim for
which a proof of claim has been filed is contingent or unliquidated
or does not otherwise specify a liquidated amount, the claim will
be allowed to vote for a value of $1.00 only.  If a claim is
liquidated and non-contingent in part, it shall be allowed for
voting purposes for the liquidated and non-contingent part only.
The same provisions also grant the Debtors the power to allege that
a claim is, in their view, contingent or unliquidated and treat it
accordingly.

Occidental Chemical claims that the tailor-made provisions have far
reaching consequences.  Due to the potentially enormous
environmental liabilities of the Debtors, approximately 95% of the
total claims pool in these cases is contingent or unliquidated.  In
addition, contingent or unliquidated claims that have been
scheduled by the Debtors are not subject to the voting limitation
(and, unsurprisingly, the Debtors listed mainly zero-value claims
and intercompany claims in their schedules, with by far the most
important scheduled claim being a $193 million claim by YPF
Holdings, Inc. (Claim No. 295)).  Taken together, those two
elements put the Debtors in a position to disregard, in their sole
discretion, more than 95% of the claims pool when calculating
whether the amount requirement of Section 1126(c) of the Bankruptcy
Code is met (2/3 of the claims in amount must vote in favor of the
plan) and, consequently, to give YPF Holdings, Inc., a blocking
position over the class of general unsecured creditors.  This is
totally unwarranted in light of the $13 billion of asserted general
unsecured claims in these Cases and the insider status of YPF
Holdings, Inc.

Occidental Chemical objects to the form of ballots for the holders
of Class 4 General Unsecured Claims, inasmuch they lack the
possibility for the holders to indicate their preference regarding
the YPF Settlement Agreement.  

A copy of the Objection is available at:

           http://bankrupt.com/misc/deb16-11501-974.pdf

Occidental Chemical is represented by:

     RICHARDS, LAYTON & FINGER, P.A.  
     Mark D. Collins, Esq.
     Michael J. Merchant, Esq.
     Brendan J. Schlauch, Esq.
     One Rodney Square 920 North King Street, Suite 200
     Wilmington, DE 19801
     Tel: (302) 651-7700
     Fax: (302) 651-7701
     E-mail: collins@RLF.com
             merchant@RLF.com
             schlauch@RLF.com

          -- and --

     WHITE & CASE LLP
     J. Christopher Shore, Esq.
     Harrison L. Denman, Esq.
     1155 Avenue of the Americas
     New York, NY 10036
     Tel: (212) 819-8200
     Fax: (212) 354-8113
     E-mail: cshore@whitecase.com
             hdenman@whitecase.com

          -- and --

     Thomas E. Lauria, Esq.
     Southeast Financial Center, Suite 4900
     200 South Biscayne Boulevard
     Miami, FL 33131
     Tel: (305) 371-2700
     Fax: (305) 358-5744
     E-mail: tlauria@whitecase.com

As reported by the Troubled Company Reporter on Jan. 4, 2017, Maxus
Energy filed with the Court a Chapter 11 plan of liquidation and
accompanying disclosure statement dated Dec. 29, 2016.  General
Unsecured Claims (Class 4) are impaired under the Plan and
are expected to recover 0% to 25%.  Retiree Claims (Class 5) and
Government Environmental Claims (Class 6) are also impaired and
their expected recovery is unknown at the time of filing of the
Plan.

                 About Maxus Energy Corporation

Maxus Energy Corporation and four of its subsidiaries filed
voluntary petitions for reorganization under Chapter 11 (Bankr. D.
Del., Case No. 16-11501) on June 17, 2016.  The Debtors intend to
use the breathing spell afforded by the Bankruptcy Code to decide
whether their existing environmental remediation operations and oil
and gas operations can be restructured as a sustainable,
stand-alone enterprise.

The Debtors have engaged Young Conaway Stargatt & Taylor, LLP as
local counsel, Morrison & Foerster LLP as general bankruptcy
counsel, Zolfo Cooper, LLC as financial advisor and Prime Clerk LLC
as claims and noticing agent, all are subject to the Bankruptcy
Court's approval.

The Debtors hired Keen-Summit Capital Partners LLC as real estate
broker. The Debtors also engaged Hilco Steambank to market and sell
their internet protocol numbers and other internet number
resources, and EnergyNet.com to market and sell the Debtors'
rights, title, and interest in and to the oil and gas properties.

On July 7, 2016, the United States Trustee for the District of
Delaware filed Notice of Appointment of Committee of Unsecured
Creditors. The Committee selected Schulte Roth & Zabell LLP as
counsel, and Cole Schotz as Delaware co-counsel. Berkeley Research
Group, LLC, serves as financial advisor for the Committee.

Andrew Vara, acting U.S. Trustee for Region 3, appointed the
following to a committee of retirees: John Leslie Jackson, Sr.,
Gerald G. Carlton, and Robert E. Garbesi.  The Retirees Committee
retained Akin Gump Strauss Hauer & Feld LLP as counsel and Ashby &
Geddes, P.A., as co-counsel.


MEMORIAL PRODUCTION: Disclosures OK'd; Plan Hearing on April 4
--------------------------------------------------------------
The Hon. Marvin Isgur of the U.S. Bankruptcy Court for the Southern
District of Texas has approved Memorial Production Partners LP and
its debtor-affiliates' disclosure statement referring to the
Debtors' plan of reorganization.

The plan confirmation hearing is set for April 4, 2017, at 10:00
a.m. (Central Time).  Objections to the Plan must be filed by March
27, 2017, at 4:00 p.m. (Central Time).  Responses to the Plan must
be filed by March 31, 2017, at 4:00 p.m. (Central Time).

The plan supplement deadline is March 24, 2017.

The voting deadline is March 27, 2017, at 4:00 p.m. (Central
Time).

A copy of the court order is available at:

          http://bankrupt.com/misc/txsb17-30262-245.pdf

As reported by the Troubled Company Reporter on Feb. 17, 2017, the
proposed joint plan of reorganization provides for, among other
things, an unsecured-debt-for-equity exchange and an amendment to
the Debtors' secured credit facility that together would
substantially deleverage the Debtors' balance sheet.

            About Memorial Production Partners LP

Memorial Production Partners LP -- http://www.memorialpp.com/-- is
a publicly traded partnership engaged in the acquisition,
production and development of oil and natural gas properties in the
United States.  MEMP's properties consist of mature, legacy oil and
natural gas fields.  MEMP is headquartered in Houston, Texas.

Memorial Production Partners LP, Memorial Production Finance
Corporation and their debtor-affiliates filed a Chapter 11 petition
(Bankr. S.D. Tex. Lead Case No. 17-30262) on January 16, 2017.  The
cases are assigned before the Hon. Marvin Isgur.

The Debtors are represented by Alfredo R. Perez, Esq., at Weil,
Gotshal & Manges LLP, in Houston, Texas; and Gary T. Holtzer, Esq.,
and Joseph H. Smolinsky, Esq., at Weil, Gotshal & Manges LLP, New
York.  The Debtors' financial advisor is Perella Weinberg Partners
LP.  The Debtors' Restructuring Advisor is Alixpartners, LLP.  The
Debtors' claims, noticing, and solicitation agent is Rust
Consulting/Omni Bankruptcy.

At the time of filing, the Debtors had estimated assets of $1
billion to $10 billion and estimated debts of $1 billion to $10
billion.


MF GLOBAL: Faces Off with PwC as $3-Bil. Malpractice Suit Begins
----------------------------------------------------------------
Michael Rapoport and Andrew Scurria, writing for The Wall Street
Journal Pro Bankruptcy, reported that PricewaterhouseCoopers LLP's
"botched" auditing helped cause the collapse of commodities
brokerage MF Global Holdings Ltd., and the accounting firm should
pay billions of dollars in damages as a result, a lawyer said on
March 7, 2017, at the start of a trial in federal court in New
York.

"PwC failed to do its job, with disastrous consequences," said
Daniel Fetterman, an attorney for MF Global's bankruptcy
administrator, in his opening statement in the brokerage's $3
billion malpractice lawsuit against PwC, the Journal related.

MF Global took $6.3 billion in European-bond investments off its
books based on incorrect advice from PwC, Mr. Fetterman told
jurors, the Journal further related.

That later helped lead to confusion and concern among investors and
ratings firms, he said, contributing to MF Global's bankruptcy in
October 2011, the report said.

But James Cusick, a lawyer for PwC, told the jurors that advice the
firm gave MF Global was correct, and that MF Global is blaming PwC
for the consequences of its own bad business decision to bet
heavily on risky European sovereign debt, the report further
related.

"MF Global is responsible for its own problems," said Mr. Cusick,
the report cited.  PwC "did not manage MF Global's business, it was
not hired to advise MF Global on what business strategy to follow,"
the report further cited Mr. Cusick as saying.  PwC is "not to
blame, not one bit," he said.

The trial, which is expected to last about five weeks, represents
the latest challenge for PwC after its error at the recent Academy
Awards that led to the wrong film being announced as the winner of
the Best Picture award, the report noted.

Lynn Turner, a former Securities and Exchange Commission chief
accountant, was testifying as an expert witness for MF Global, the
report said.

Jon Corzine, the former New Jersey governor and former U.S. senator
who was MF Global's chief executive when it collapsed, also is
expected to testify, the report added, citing a spokesman for the
MF Global administrator.

                         About MF Global

New York-based MF Global -- http://www.mfglobal.com/-- was one of

the world's leading brokers of commodities and listed derivatives.

MF Global provides access to more than 70 exchanges around the
world.  The firm also was one of 22 primary dealers authorized to
trade U.S. government securities with the Federal Reserve Bank of
New York.  MF Global's roots go back nearly 230 years to a sugar
brokerage on the banks of the Thames River in London.

On Oct. 31, 2011, MF Global Holdings Ltd. and MF Global Finance
USA Inc. filed voluntary Chapter 11 petitions (Bankr. S.D.N.Y.
Case Nos. 11-15059 and 11-5058), after a planned sale to
Interactive Brokers Group collapsed.  As of Sept. 30, 2011, MF
Global had $41,046,594,000 in total assets and $39,683,915,000 in
total liabilities.

On Nov. 7, 2011, the United States Trustee appointed the statutory
creditors' committee in the Debtors' cases.  At the behest of the
Statutory Creditor's Committee, the Court directed the U.S.
Trustee to appoint a chapter 11 trustee.  On Nov. 28, 2011, the
Bankruptcy Court entered an order approving the appointment of
Louis J. Freeh, Esq., of Freeh Group International Solutions, LLC,
as Chapter 11 trustee.

On Dec. 19, 2011, MF Global Capital LLC, MF Global Market Services
LLC and MF Global FX Clear LLC filed voluntary Chapter 11
petitions (Bankr. S.D.N.Y. Case Nos. 11-15808, 11-15809 and
11-15810).  On Dec. 27, the Court entered an order installing Mr.
Freeh as Chapter 11 Trustee of the New Debtors.

On March 2, 2012, MF Global Holdings USA Inc. filed a voluntary
Chapter 11 petition (Bankr. S.D.N.Y. Case No. 12-10863), and Mr.
Freeh also was installed as its Chapter 11 Trustee.

Judge Honorable Martin Glenn presides over the Chapter 11 case.
J. Gregory Milmoe, Esq., Kenneth S. Ziman, Esq., and J. Eric
Ivester, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, serve
as bankruptcy counsel.  The Garden City Group, Inc., serves as
claims and noticing agent.  The petition was signed by Bradley I.
Abelow, Executive Vice President and Chief Executive Officer of MF
Global Finance USA Inc.

The Chapter 11 Trustee has tapped (i) Freeh Sporkin & Sullivan
LLP, as investigative counsel; (ii) FTI Consulting Inc., as
restructuring advisors; (iii) Morrison & Foerster LLP, as
bankruptcy counsel; and (iv) Pepper Hamilton as special counsel.

The Official Committee of Unsecured Creditors has retained
Capstone Advisory Group LLC as financial advisor, while lawyers at
Proskauer Rose LLP serve as counsel.

The Securities Investor Protection Corporation commenced
liquidation proceedings against MF Global Inc. to protect
customers.  James W. Giddens was appointed as trustee pursuant to
the Securities Investor Protection Act.  He is a partner at Hughes
Hubbard & Reed LLP in New York.

Jon Corzine, the former New Jersey governor and co-CEO of
Goldman Sachs Group Inc., stepped down as chairman and chief
executive officer of MF Global just days after the bankruptcy
filing.

In April 2013, the Bankruptcy Court approved MF Global Holdings'
plan to liquidate its assets.  Bloomberg News reported that the
court-approved disclosure statement initially told
creditors with $1.134 billion in unsecured claims against the
parent holding company why they could expect a recovery of 13.4%
to 39.1% from the plan.  As a consequence of a settlement with
JPMorgan, supplemental materials informed unsecured creditors
their recovery was reduced to the range of 11.4% to 34.4%.  Bank
lenders will have the same recovery on their $1.174 billion claim
against the holding company.  As a consequence of the settlement,
the predicted recovery became 18% to 41.5% for holders of $1.19
billion in unsecured claims against the finance subsidiary,
one of the companies under the umbrella of the holding company
trustee.  Previously, the predicted recovery was 14.7% to 34% on
bank lenders' claims against the finance subsidiary.


MODULAR SPACE: Completes Financial Restructuring, Exits Chapter 11
------------------------------------------------------------------
Modular Space Corporation on March 6, 2017, disclosed it has
successfully exited its pre-packaged chapter 11 bankruptcy with a
$90 million equity investment, a new $640 million asset-backed
credit facility and the elimination of more than $400 million of
debt.

"This is great news for all of our stakeholders. ModSpace's
financial condition is strong.  Our commitment to providing
industry-leading customer service and innovating with new products
and services has never been firmer.  And our appreciation of our
vendors who help us deliver the world-class customer experience
that our clients expect has never been deeper," said President and
CEO Charles Paquin.

"I'm especially proud of our employees across North America.
Throughout this process, they never lost sight of our customers and
vendors.  With the strength of our employees and our post-emergence
financial position, ModSpace is well-positioned for greater success
in the industry," added Mr. Paquin.

                       About Modular Space

Modular Space Corporation (ModSpace), based in Berwyn, Pa. --
http://Blog.ModSpace.com/-- is the largest U.S.-owned provider of
office trailers, portable storage units and modular buildings for
temporary or permanent space needs.  Building on nearly 50 years of
experience, ModSpace serves a diverse set of customers and markets
including commercial, construction, education, government,
healthcare, industrial, energy, disaster relief, franchise and
special events through an extensive branch network across the
United States and Canada.

On Dec. 21 2016, Modular Space Holdings, Inc., and six affiliates
filed voluntary petitions for relief under Chapter 11 of the United
States Bankruptcy Code (Bankr. D. Del. Case No. 16-12825 to
16-12831) to pursue a prepackaged plan of reorganization.  The
cases are pending joint administration under Lead Case No. 16-12825
before the Honorable Kevin J. Carey.

ModSpace estimated $1 billion to $10 billion in assets and
liabilities.

Cleary Gottlieb Steen & Hamilton LLP is acting as legal counsel for
the Company; Lazard Middle Market LLC and Lazard Freres & Co. LLC
are acting as the Company's investment bankers and Zolfo Cooper is
the Company's financial advisor.  Kurtzman Carson Consultants is
the claims and noticing agent.

Dechert LLP is acting as legal counsel, and Moelis & Company LLC is
acting as financial advisor to the ad hoc group of noteholders.

                           *     *     *

ModSpace filed a Prepackaged Plan of Reorganization that will
eliminate approximately $400 million of debt from the Company's
balance sheet, provide $90 million of new equity capital from the
bondholders via a rights offering and include a new $719 million
credit facility to be provided by the existing asset based lenders
(the "Lenders").

General unsecured claims, to the extent not paid earlier by order
of the Court, would either be paid in full in cash or reinstated on
the Effective Date.  However, under certain conditions, the Plan
affords the noteholders the right to direct the Debtors (subject to
certain consent rights) to pursue an "alternative transaction."


MOSAIC MANAGEMENT: Seeks March 15 Plan Exclusivity Extension
------------------------------------------------------------
Mosaic Management Group Inc. and its debtor affiliates ask the
Bankruptcy Court to further extend their exclusive period to file a
chapter 11 plan through March 15, 2017, and their exclusive period
to solicit acceptances for that plan through April 17, 2017.

The Official Committee of Unsecured Creditors and the Official
Committee of Investor Creditors of Debtor Mosaic Alternative
Settlements, Inc., support the Exclusivity Extension Motion.

The Debtors continue to assert that the complexity of their cases
warrants an extension of the Exclusivity Periods.

The Debtors also continue to aver that two remaining unresolved
contingencies exist -- (1) the process of reviewing, revising and
editing that Chapter 11 plan with the Committees, and the
anticipation of filing a final draft by early March 2017; and (2)
the process of undertaking a substantial review of the proofs of
claim filed in their cases.

                About Mosaic Management Group

Mosaic Management Group, Inc., and its affiliates sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Lead Case
No. 16-20833) on Aug. 4, 2016.  The petitions were signed by
Charles Thomas Ryals, president and chief executive officer.  Judge
Erik P. Kimball presides over the case.

Mosaic Management Group, Inc. estimated assets at less than $50,000
and liabilities at $50,000 to $100,000. Mosaic Alternative Assets
Ltd. estimated assets at $50 million to $100 million and
liabilities at $1 million to $10 million.

The Debtors originally tapped Berger Singerman LLP as bankruptcy
counsel. In September 2016, the Debtors hired Kristopher E. Aungst,
Esq., and Angelo Castaldi, Esq., of Tripp Scott, P.A. as legal
counsel.  The Debtors also tapped Erwin Legal PLC, as special
counsel; Longevity Asset Advisors, LLC as consultant and sales
agent; GlassRatner Advisory & Capital Group, LLC, as financial
advisors and accountants; and Ricoh USA, Inc. as electronic data
consultant.

Guy G. Gebhardt, Acting U.S. Trustee for Region 21, on Aug. 23,
2016, appointed creditors of Mosaic Alternative Settlements, Inc.,
to serve on the official committee of unsecured creditors.  The
MASI committee hired Furr and Cohen, P.A. as its legal counsel, and
hire Genovese, Joblove & Battista, P.A., as special counsel.

The Acting U.S. Trustee for Region 21 on Dec. 8, 2016, appointed
creditors of Mosaic Alternative Assets, Ltd., to serve on the
official committee of investor creditors. The Committee of Investor
Creditors retains Bast Amron LLP as counsel.

An official committee of unsecured creditors has not yet been
appointed in the Chapter 11 cases of Mosaic Management Group Inc.
and Paladin Settlements, Inc. as of Dec. 23, according to the case
docket.


NAVISTAR INTERNATIONAL: MHR Has 16.6% Equity Stake as of March 1
----------------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, MHR Fund Management LLC and MHR Holdings LLC disclosed
that as of March 1, 2017, they may be deemed to beneficially own
16,225,000 shares of common stock, par value $0.10 per share, of
Navistar International Corporation representing 16.6 percent of the
shares outstanding.

In addition, Mark H. Rachesky reported beneficial ownership of
16,271,465 common shares, MHR Institutional Partners III LP
reported beneficial ownership of 14,980,528 common shares and
MHR Institutional Advisors III LLC reported beneficial ownership
of 14,980,528 common shares.

A full-text copy of the regulatory filing is available at:

                       https://is.gd/ESZVFU

                   About Navistar International

Navistar International Corporation (NYSE: NAV) --
http://www.navistar.com/-- is a holding company whose subsidiaries
and affiliates subsidiaries produce International(R) brand
commercial and military trucks, MaxxForce(R) brand diesel
engines, IC Bus(TM) brand school and commercial buses, Monaco RV
brands of recreational vehicles, and Workhorse(R) brand chassis
for motor homes and step vans.  It also is a private-label designer
and manufacturer of diesel engines for the pickup truck,
van and SUV markets.  The Company also provides truck and diesel
engine parts and service.  Another affiliate offers financing
services.

Navistar reported a net loss attributable to the Company of $97
million on $8.11 billion of net sales and revenues for the year
ended Oct. 31, 2016, compared with a net loss attributable to the
Company of $184 million on $10.14 billion of net sales and revenues
for the year ended Oct. 31, 2015.

As of Oct. 31, 2016, Navistar had $5.65 billion in total assets,
$10.94 billion in total liabilities and a total stockholders'
deficit of $5.29 billion.

                          *     *     *

Navistar carries as 'B3 'Corporate Family Rating (CFR) and stable
outlook from Moody's.  Moody's said in January 2017 that Navistar's
ratings reflects the continuing challenges the company faces in
re-establishing its competitive position and profitability in the
North American medium and heavy truck markets.

Navistar carries a 'CCC' Issuer Default Ratings from Fitch Ratings.
Fitch said in January 2017 that the ratings for NAV, Navistar,
Inc., and NFC remain on Rating Watch Positive pending completion of
a strategic alliance between NAV and Volkswagen Truck & Bus GmbH
(VW T&B).   The Positive Rating Watch reflects Fitch's expectation
that under terms contemplated for the alliance, NAV would realize
cost synergies, improved liquidity, and strategic opportunities
over the next several years that would support its competitiveness
and operating performance.

As reported by the TCR on March 3, 2017, S&P Global Ratings said
that it raised its corporate credit ratings on Navistar
International Corp. and its subsidiary Navistar Financial Corp. to
'B-' from 'CCC+'.  The outlook is stable.  The upgrade follows
Navistar's strategic alliance with Volkswagen Truck & Bus, which
includes Volkswagen Truck & Bus' 16.6% equity stake in Navistar,
definitive agreements for the two companies to collaborate on
technology, and the formation of a procurement JV.


NAVISTAR INTERNATIONAL: Promotes Persio Lisboa to EVP and COO
-------------------------------------------------------------
Navistar International Corporation announced the appointment of
Persio V. Lisboa, president of operations, as executive vice
president and chief operating officer, effective immediately.  In
addition, Steven K. Covey, senior vice president and general
counsel, is retiring after 36 years with Navistar.  Curt Kramer,
currently associate general counsel and corporate secretary, will
succeed Covey effective April 1, 2017.

In connection with Lisboa's promotion, the Compensation Committee
of the Board approved (i) an increase in Lisboa's annual base
salary to $675,000 and (ii) a $200,000 addition to his 2017
long-term incentive award consisting of 50% performance-based cash
that cliff vests in three years, 30% time-based restricted stock
units that cliff vest in three years and 20% stock options with a
three year ratable vesting schedule.  In addition, Lisboa will
continue to receive other compensation, and participate in other
benefit plans, consistent with Company policy for an executive at
his level.

In his new role, Lisboa, 51, will oversee Navistar's operations,
global and sales functions.  In his most recent role as president
of operations, Lisboa was responsible for procurement, product
development and manufacturing, where he helped drive hundreds of
millions in total cost savings, while overseeing key strategic
investments in new products and services.  He also played a major
role in negotiating the successful close of Navistar's strategic
alliance with Volkswagen Truck & Bus.

"Persio is an inspiring, performance-driven leader who consistently
delivers results and empowers his teams to succeed.  I am confident
that with nearly 30 years of experience at Navistar, working across
all aspects of our business, he will help us build on our positive
momentum," said Troy A. Clarke, chairman, president and CEO,
Navistar.  "On behalf of the Board of Directors and the management
team, I congratulate Persio on this well-deserved promotion to
chief operating officer."

"I am honored to be taking on the role of chief operating officer
and look forward to continuing to strengthen Navistar's performance
and deliver on our strategic priorities," Lisboa said. "I am
committed to working with Troy and the rest of the management team
to drive operational excellence and industry-leading uptime as we
push to become the industry's North American champion."

Covey joined the company in 1981, and over the past 36 years has
provided leadership and legal expertise for Navistar, the last 13
years in the role as general counsel.

"Steve has helped guide the company through many challenges.  He
brought a steady and thoughtful presence, and had a unique
perspective on seeing the company for nearly four decades," Clarke
said.  "I thank him for his unwavering service and wish him the
very best as he begins his next chapter."

In his new role as senior vice president and general counsel, Curt
Kramer, 48, will be responsible for leading all legal and corporate
governance matters for the company.  In his most recent role as
corporate secretary, Kramer oversaw all corporate governance and
Board administration functions, as well as all legal aspects of
Navistar's securities, finance and merger and acquisition
activity.

"Curt has demonstrated his trusted leadership and extensive legal
expertise throughout a variety of complex situations and
transformative changes at Navistar," Clarke said.  "His keen
understanding of the legal environment in which Navistar operates
and impressive track record of accomplishments will serve him well
in this new role."

                     About Persio Lisboa

Since joining Navistar in 1988, Lisboa has held a number of
positions of increasing responsibility in the United States and
South America.  Prior to this appointment and serving as president
of operations, Persio V. Lisboa served as Navistar's chief
procurement officer, responsible for the development and
implementation of the company's procurement and supply chain
strategies globally.  Earlier, Lisboa served as divisional
purchasing and logistics vice president of Navistar's engine group
and vice president and general manager of the inline business unit.
He also held leadership positions in Navistar's engine group, the
inline business unit, and in South America including as president
of the Argentina subsidiary.  Lisboa has a Bachelor of Science
degree in business administration with a marketing specialization
from Pontificia Universidade Catolica University in Sao Paulo,
Brazil.

                       About Curt Kramer

Kramer has served as Navistar's associate general counsel and
corporate secretary for the past 10 years.  He joined Navistar in
2002 as an attorney and served as a senior attorney, senior counsel
and general attorney.  Prior to joining Navistar, he was in private
practice.  Curt has a bachelor's degree from the University of
Miami, a juris doctorate degree from Quinnipiac University School
of Law, and an LLM in securities and tax law from Georgetown
University Law Center.

                 About Navistar International

Navistar International Corporation (NYSE: NAV) --
http://www.navistar.com/-- is a holding company whose subsidiaries
and affiliates subsidiaries produce International(R) brand
commercial and military trucks, MaxxForce(R) brand diesel
engines, IC Bus(TM) brand school and commercial buses, Monaco RV
brands of recreational vehicles, and Workhorse(R) brand chassis
for motor homes and step vans.  It also is a private-label designer
and manufacturer of diesel engines for the pickup truck,
van and SUV markets.  The Company also provides truck and diesel
engine parts and service.  Another affiliate offers financing
services.

Navistar reported a net loss attributable to the Company of $97
million on $8.11 billion of net sales and revenues for the year
ended Oct. 31, 2016, compared with a net loss attributable to the
Company of $184 million on $10.14 billion of net sales and revenues
for the year ended Oct. 31, 2015.

As of Oct. 31, 2016, Navistar had $5.65 billion in total assets,
$10.94 billion in total liabilities and a total stockholders'
deficit of $5.29 billion.

                          *     *     *

Navistar carries as 'B3 'Corporate Family Rating (CFR) and stable
outlook from Moody's.  Moody's said in January 2017 that Navistar's
ratings reflects the continuing challenges the company faces in
re-establishing its competitive position and profitability in the
North American medium and heavy truck markets.

Navistar carries a 'CCC' Issuer Default Ratings from Fitch Ratings.
Fitch said in January 2017 that the ratings for NAV, Navistar,
Inc., and NFC remain on Rating Watch Positive pending completion of
a strategic alliance between NAV and Volkswagen Truck & Bus GmbH
(VW T&B).   The Positive Rating Watch reflects Fitch's expectation
that under terms contemplated for the alliance, NAV would realize
cost synergies, improved liquidity, and strategic opportunities
over the next several years that would support its competitiveness
and operating performance.

As reported by the TCR on March 3, 2017, S&P Global Ratings said
that it raised its corporate credit ratings on Navistar
International Corp. and its subsidiary Navistar Financial Corp. to
'B-' from 'CCC+'.  The outlook is stable.  The upgrade follows
Navistar's strategic alliance with Volkswagen Truck & Bus, which
includes Volkswagen Truck & Bus' 16.6% equity stake in Navistar,
definitive agreements for the two companies to collaborate on
technology, and the formation of a procurement JV.


NORTHERN OIL: Incurs $293.5 Million Net Loss in 2016
----------------------------------------------------
Northern Oil and Gas, Inc. filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K disclosing a net
loss of $293.5 million on $144.9 million of total revenues for the
year ended Dec. 31, 2016, compared to a net loss of $975.4 million
on $275.05 million of total revenues for the year ended Dec. 31,
2015.

The Company's balance sheet as of Dec. 31, 2016, showed $431.5
million in total assets, $918.95 million in total liabilities, and
a total stockholders' deficit of $487.4 million.

"Our main sources of liquidity and capital resources as of the date
of this report have been internally generated cash flow from
operations, proceeds from senior unsecured notes, credit facility
borrowings and cash settlements of derivative contracts.  Our
primary uses of capital have been for the acquisition and
development of our oil and gas properties.  We continually monitor
potential capital sources for opportunities to enhance liquidity or
otherwise improve our financial position.

"One of the primary sources of variability in our cash flows from
operating activities is commodity price volatility.  Oil accounted
for 87% of our total production volumes in 2016 and 2015.  As a
result, our operating cash flows are more sensitive to fluctuations
in oil prices than they are to fluctuations in natural gas and NGL
prices.  We partially mitigate volatility in the price of crude oil
by entering into hedging arrangements with respect to a portion of
our expected oil production.

Due to the significant drop in crude oil prices in the futures
market, we were unable to replace our maturing higher dollar hedges
with new derivative instruments at similar pricing levels.  As a
result, the effect of the gain from our settled derivatives on our
average price per barrel declined from $31.17 per barrel in 2015 to
$14.22 per barrel in 2016. In addition, the percentage of our oil
production hedged declined from 77% in 2015 to 42% in 2016.  The
combination of these two factors reduced our cash flow from
operations in 2016 as compared to 2015.

"As of December 31, 2016, we had derivative swap contracts hedging
approximately 2.5 million barrels of oil in 2017 at an average
price of $52.55 per barrel and approximately 0.8 million barrels of
oil in 2018 at an average price of $54.40 per barrel, and we had
derivative costless collar contracts hedging approximately 0.3
million barrels of oil in 2017 with a floor price of $50.00 and an
average ceiling price of $60.06 (see Note 11 to our financial
statements).

"Our amended and restated credit agreement governing our revolving
credit facility (the "Revolving Credit Facility") has a maximum
facility size of $750 million, subject to a semi-annual borrowing
base redetermination in April and October of each year.  In April
2016, our borrowing base was reduced from $550 million to $350
million due to the impact that lower commodity prices had on our
oil and gas reserve valuation.  Our borrowing base was reaffirmed
at $350 million in November 2016.  At December 31, 2016, we had a
borrowing base of $350 million and $144 million of borrowings on
the Revolving Credit Facility, leaving $206 million of borrowing
capacity available under the facility.  Additionally, we have
$700.0 million aggregate principal amount of outstanding 8.000%
senior unsecured notes due June 1, 2020 (the "Notes").

"While lower commodity prices will reduce our future net cash flow
from operations, we expect to have sufficient liquidity to continue
development of our oil and gas properties.  In 2016, our capital
spending was decreased by 34% as compared to 2015 and our cash
flows exceeded our development expenditures, which allowed us to
reduce our credit facility borrowings by $6 million.  At December
31, 2016, the borrowing base on our credit facility was $350
million and there was a $144 million outstanding balance, leaving
$206 million of borrowing capacity under the facility.  Although
our borrowing base could be reduced if commodity prices do not
improve, we believe our borrowing base has resilience since 85% of
our pre-tax PV-10 consists of producing properties which do not
require material maintenance capital expenditures to maintain
forecasted production levels.  If the existing commodity price
environment persists and prices remain lower-for-longer, we plan to
continue development within available cash flows and potentially
seek the acquisition of producing properties to offset decline as
sufficient liquidity allows."

A full-text copy of the Form 10-K is available for free at:

                        https://is.gd/kn7IEF

                         About Northern Oil

Northern Oil and Gas, Inc. -- http://www.NorthernOil.com/-- is an  

exploration and production company with a core area of focus in the
Williston Basin Bakken and Three Forks play in North Dakota and
Montana.
  
                            *     *     *

As reported by the TCR on Sept. 1, 2016, S&P Global Ratings lowered
its corporate credit rating on U.S.-based oil and gas E&P company
Northern Oil and Gas Inc. to 'CCC' from 'CCC+'.  The outlook is
negative.  "The downgrade follows the announcement by the company
that it has retained financial advisors Tudor, Pickering, Holt &
Co. to help it review strategic alternatives," said S&P Global
Ratings credit analyst Brian Garcia.  "We believe this increases
the likelihood the company could engage in a transaction we would
view as a distressed exchange, where holders of the company's
unsecured debt could receive less than the promised value," he
added.  As reported by the TCR on March 24, 2016, Moody's Investors
Service downgraded Northern Oil and Gas, Inc's Corporate Family
Rating to Caa2 from B3, Probability of Default Rating to Caa2-PD
from B3-PD, and the ratings on its senior unsecured notes to Caa3
from Caa1.  At the same time, Moody's lowered the Speculative Grade
Liquidity (SGL) rating to SGL-4 from SGL-3.  This concludes the
ratings review commenced on Jan. 21, 2016.  The ratings outlook is
negative.

"Weak oil and natural gas prices will diminish NOG's cash flows in
2017, when it no longer benefits from commodity price hedges,"
stated James Wilkins, a Moody's vice president.  "Leverage will
increase sharply and credit metrics will deteriorate."

Northern Oil carries a 'Caa2' corporate family rating from Moody's
Investors Service.


PEABODY ENERGY: Agrees to Collateral for Mine Cleanup Costs
-----------------------------------------------------------
The American Bankruptcy Institute, citing Tracy Rucinski, reported
that Peabody Energy Corp said on March 6, 2017, it has agreed to
set aside collateral to cover future mine cleanup costs as part of
its bankruptcy reorganization plan, ending its controversial use of
"self-bonds."

According to the report, for decades the largest U.S. coal
companies have used a federal practice known as "self-bonding,"
which exempts companies from posting bonds or other securities to
cover the cost of returning mined land to its natural state, as
required by law.

Concerns over how Peabody, the world's largest private-sector coal
miner, would finance about $1 billion in self-bonds when it emerges
from bankruptcy protection had led a series of complaints over its
reorganization plan, the report related.

Under a deal announced on March 6, Peabody said it had arranged for
$1.26 billion in third-party bonds and $14.5 million in a state
bond pool in Indiana, one of the states where it held self-bonds,
to fully satisfy its financing requirements, the report said.

"This is an important step to protect taxpayers and the
environment.  It was the right thing to do.  It's also another
example of how credit markets and banks seem to be more willing to
open up their books to coal companies," Clark Williams-Derry of
Sightline Institute, a climate and energy think tank, told
Reuters.

Peabody will seek U.S. Bankruptcy Court approval in St. Louis for a
plan to cut more than $5 billion in debt and exit Chapter 11 in
April, the report related.  The third-party bonds for mine cleanups
will become available upon bankruptcy emergence, the report said.

Peabody also holds self-bonds in Wyoming, New Mexico and Illinois,
the report added.  It announced a temporary financing deal with the
four states in July to cover a portion of the risk that it will
walk away from mine cleanup obligations while in bankruptcy, the
report noted.

               About Peabody Energy Corporation

Headquartered in St. Louis, Missouri, Peabody Energy Corporation
claims to be the world's largest private-sector coal company.  As
of Dec. 31, 2014, the Company owned interests in 26 active coal
mining operations located in the United States (U.S.) and
Australia.  The Company has a majority interest in 25 of those
mining operations and a 50% equity interest in the Middlemount
Mine
in Australia.  In addition to its mining operations, the Company
markets and brokers coal from other coal producers, both as
principal and agent, and trade coal and freight-related contracts
through trading and business offices in Australia, China, Germany,
India, Indonesia, Singapore, the United Kingdom and the U.S.

Peabody posted a net loss of $1.988 billion for 2015, wider from
the net loss of $777 million in 2014 and the $513 million net loss
in 2013.

At Dec. 31, 2015, the Company had total assets of $11.02 billion
against $10.1 billion in total liabilities, and stockholders'
equity of $919 million.

On April 13, 2016, Peabody Energy Corp. and 153 affiliates filed
voluntary petitions for relief under Chapter 11 of the United
States Bankruptcy Code.  The 154 cases are pending joint
administration before the Honorable Judge Barry S. Schermer under
(Bankr. E.D. Mo. Case No. 16-42529).

As of the Petition Date, PEC has approximately $4.3 billion in
outstanding secured debt obligations and $4.5 billion in
outstanding unsecured debt obligations.

The Debtors tapped Jones Day as general counsel; Armstrong,
Teasdale LLP as local counsel; Lazard Freres & Co. LLC and
investment banker Lazard PTY Limited as investment banker; FTI
Consulting, Inc., as financial advisors; and Kurtzman Carson
Consultants, LLC, as claims, ballot and noticing agent.

The Office of the U.S. Trustee on April 29, 2016, appointed seven
creditors of Peabody Energy Corp. to serve on the official
committee of unsecured creditors.  The Committee retained Morrison
& Foerster LLP as counsel, Spencer Fane LLP as local counsel,
Curtis, Mallet-Prevost, Colt & Mosle LLP as conflicts counsel,
Blackacre LLC as its independent expert, and Berkeley Research
Group, LLC, as financial advisor.

                      *     *     *

Judge Barry S. Schermer of the U.S. Bankruptcy Court for the
Eastern District of Missouri on January 27, 2017, approved the
second amended disclosure statement explaining Peabody Energy
Corporation, et al.'s joint plan of reorganization and scheduled
the confirmation hearing for March 16, 2017, at 10:00 A.M., Central

Time.  Objections to confirmation of the Plan must be filed on or
before March 9.

Under the Second Amended Plan, in full settlement and satisfaction

of the Official Committee of Unsecured Creditors' Alleged Causes of

Action, the Creditors' Committee Settlement provided that holders
of General Unsecured Claims (1) against PEC will have $5 million of

cash available for distribution to Holders of Allowed General
Unsecured Claims in Class 5A that are not Convenience Claims in
Class 6A and (2) against one of the Encumbered Guarantor Debtors
will have an option to elect to receive on account of their Allowed

Claims, a pro rata cash distribution from a pool of $75 million,
with recoveries to be capped at 50% of their Allowed Claims. The
total amount of cash available for holders of Convenience Claims in

Class 6A is $2 million and Class 6B is $18 million.

Class 2A -2D (Second Lien Notes Claims) will recover an estimated
52.4% under the Plan.  Class 6A (PEC Convenience Claims) and Class

6B (Encumbered Guarantor Debtors Convenience Claims) will recover
an estimated 72.5%.  Class 7A-7E (MEPP Claims) will recover 85% to

90%.

Holders of general unsecured claims will recover:

   Class 5A (PEC)                           0.1%
   Class 5B (Encumbered Guarantor Debtors) 22.1%
   Class 5C (Gold Fields Debtors) less than 1.0%
   Class 5D (Gib 1)                         0.0%
   Class 5E (Unencumbered Debtors)         99.0%

Class 8A (PEC Unsecured Subordinated Debenture Claims) will recover

nothing. In accordance with the global settlement embodied in the
Plan, if Class 8A votes in favor of the Plan and certain other
conditions are satisfied, holders of Unsecured Subordinated
Debenture
Claims will receive the Unsecured Subordinated Debenture Penny
Warrants from the Noteholder Co- Proponents, which would provide
for
an anticipated recovery of approximately 4.2%.

A black-lined version of the Second Amended Plan dated January 27,

2017, is available at:

        http://bankrupt.com/misc/mieb16-42529-2232.pdf  


PEABODY ENERGY: Unveils Plans for U.S. Reclamation Assurances
-------------------------------------------------------------
Peabody Energy on March 6, 2017, disclosed it has chosen a path for
future coal mine reclamation bonding requirements upon emergence
from Chapter 11.  While Peabody believes it continues to qualify
for self-bonding, the company is choosing to support its coal mine
reclamation bonding requirements through third-party bonding
facilities.

"We are pleased to reach a bonding solution that we believe best
serves the capital structure of the new Peabody at this time," said
President and Chief Executive Officer Glenn Kellow.  "Peabody
believes it continues to qualify for self-bonding and will consider
adding self-bonding to its capital structure to support its coal
mine reclamation requirements in the future, should circumstances
warrant."

Peabody fully accounts for the projected financial impact of its
final coal mine reclamation requirements through its asset
retirement obligation (ARO) on its balance sheet in accordance with
generally accepted accounting principles.  As of Dec. 31, 2016,
Peabody's ARO liability totaled $471 million for its U.S.
operations.  In addition to its ARO financial liability, Peabody is
required to secure its current coal mine reclamation bonding
requirements through assurances such as surety bonds or self bonds.
In support of its U.S. coal mine reclamation requirements, Peabody
has arranged for $1.26 billion in commercial surety bonds and $14.5
million through a state bond pool to be in place upon emergence
from Chapter 11, which will fully satisfy its U.S. assurance
requirements.

The bonding amount significantly exceeds the financial ARO
liability as of Dec. 31, 2016, as bonding represents an
undiscounted amount that assumes a mine ceases to operate in the
current period regardless of the economic life of the mine, while
actual cessation of mining could be a number of years or even
decades away.            

Peabody views land restoration as an essential part of the coal
mining process.  In 2016, Peabody accelerated its restoration
activities, reclaiming 70 percent more land than what was
disturbed.  The company funds every dollar of its coal mine
reclamation and pays tens of millions of dollars each year for a
reclamation fund for other producers' former coal mines.  Peabody
remains focused on restoring the land and providing assurances for
future obligations.  

               About Peabody Energy Corporation

Headquartered in St. Louis, Missouri, Peabody Energy Corporation
claims to be the world's largest private-sector coal company.  As
of Dec. 31, 2014, the Company owned interests in 26 active coal
mining operations located in the United States (U.S.) and
Australia.  The Company has a majority interest in 25 of those
mining operations and a 50% equity interest in the Middlemount Mine
in Australia.  In addition to its mining operations, the Company
markets and brokers coal from other coal producers, both as
principal and agent, and trade coal and freight-related contracts
through trading and business offices in Australia, China, Germany,
India, Indonesia, Singapore, the United Kingdom and the U.S.

Peabody posted a net loss of $1.988 billion for 2015, wider from
the net loss of $777 million in 2014 and the $513 million net loss
in 2013.

At Dec. 31, 2015, the Company had total assets of $11.02 billion
against $10.1 billion in total liabilities, and stockholders'
equity of $919 million.

On April 13, 2016, Peabody Energy Corp. and 153 affiliates filed
voluntary petitions for relief under Chapter 11 of the United
States Bankruptcy Code.  The cases are pending joint administration
before the Honorable Judge Barry S. Schermer under (Bankr. E.D. Mo.
Case No. 16-42529).

As of the Petition Date, PEC has approximately $4.3 billion in
outstanding secured debt obligations and $4.5 billion in
outstanding unsecured debt obligations.

The Debtors tapped Jones Day as general counsel; Armstrong,
Teasdale LLP as local counsel; Lazard Freres & Co. LLC and
investment banker Lazard PTY Limited as investment banker; FTI
Consulting, Inc., as financial advisors; and Kurtzman Carson
Consultants, LLC, as claims, ballot and noticing agent.

The Office of the U.S. Trustee on April 29, 2016, appointed seven
creditors of Peabody Energy Corp. to serve on the official
committee of unsecured creditors.  The Committee retained Morrison
& Foerster LLP as counsel, Spencer Fane LLP as local counsel,
Curtis, Mallet-Prevost, Colt & Mosle LLP as conflicts counsel,
Blackacre LLC as its independent expert, and Berkeley Research
Group, LLC, as financial advisor.


PUERTAS DE GARAGE: April 4 Plan Confirmation Hearing
----------------------------------------------------
The Hon. Enrique S. Lamoutte Inclan of the U.S. Bankruptcy Court
for the District of Puerto Rico has conditionally approved Puertas
de Garage Rivera, Inc.'s disclosure statement filed on Feb. 20,
2017, referring to the Debtor's plan of reorganization filed on
Feb. 20, 2017.

A hearing to consider the final approval of the Disclosure
Statement and confirmation of the Plan will be held on April 4,
2017, at 10:00 a.m.

The last day to file objections to the Disclosure Statement and
Plan is three days prior to the hearing.

The last day to file written acceptances or rejections to the Plan
is three days prior to the Hearing.

As reported by the Troubled Company Reporter on Feb. 27, 2017, the
Debtor filed with the Court a first disclosure statement for plan
of reorganization dated Feb. 20, 2017, which proposes that the
Allowed Class 2 Claims of General Unsecured Creditors get $5,000,
or a 2.00% distribution on the Allowed Class 2 Claims.

                 About Puertas de Garage Rivera

Puertas de Garage Rivera, Inc., is a small business managed and
operated by its president, Glorivi Orellana Rivera.  It is a garage
door sales company which offers different types of garage and
residential doors.  It does not own any real property.  It owns
personal property like vehicles, account receivables, inventory and
other miscellaneous personal property.  Puertas de Garage leases
the premises of operations and is located at Ab6 Ave Munoz Marin
Caguas, Puerto Rico 00725.

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. P.R. Case No. 16-08068) on Oct. 7, 2016.

Jesus E. Batista Sanchez, Esq., at The Batista Law Group, P.S.C.,
serves as the Debtor's legal counsel.


QUANTUM CORP: Signs Pact with VIEX Capital to Reconstitute Board
----------------------------------------------------------------
Quantum Corp. has reached an agreement with VIEX Capital Advisors,
LLC, which owns approximately 11 percent of outstanding shares of
Quantum's common stock, to reconstitute the Quantum board of
directors with a majority of new, independent directors over the
next several months.  Specifically, Quantum has committed to
identify, within the next 90 days and subject to VIEX's approval,
three new, independent and qualified directors to be appointed to
the board following the Company's fiscal 2016 Annual Meeting of
Stockholders to be held on March 31, 2017.

Quantum and VIEX have agreed that the new independent directors
will be appointed as soon as possible after the 2016 Annual Meeting
in accordance with a specific vetting and approval process.  The
new directors will be part of a seven-person slate of nominees
presented to stockholders for election to the board later this year
at the fiscal 2017 Annual Meeting of Stockholders to be held in
August 2017.  In addition to the new directors, the nominees at the
2017 Annual Meeting will be current board members Paul Auvil III,
Gregg Powers and Clifford Press, and new board member Raghavendra
Rau.  With Mr. Rau and three new independent directors joining what
will be a seven-person board, the company will have a reconstituted
board consisting of a majority of new directors.  The company has
committed to hold the 2017 Annual Meeting not later than Aug. 31,
2017.

Paul Auvil III, chairman of the board, stated, "We are pleased to
have reached an agreement with VIEX that we collectively believe
will help us deliver long-term value to all Quantum stockholders
and reinforces the company's position as a reliable long-term
partner for its customers.  As we continue to focus on executing
against our strategic plan, which has driven strong financial
results in our current fiscal year, we look forward to
reconstituting our board with new, highly qualified, independent
directors to help us work cooperatively towards accelerating our
positive momentum and building a bright future for our
stockholders."

Eric Singer, founder and managing member of VIEX, stated, "With
this agreement, we believe that the company will have the
broad-base support of stockholders that we believe is integral to
maximizing value.  VIEX has been laser-focused on enhancing
stockholder value and appreciates that the company agrees the best
way forward is to reconstitute the board with a majority of new
directors.  We appreciate the constructive involvement of Gregg and
Paul and have full confidence that they, together with the other
members of the reconstituted board, will be fully aligned with
stockholders.  We look forward to working with the reconstituted
board to leverage Quantum's inherent strengths and industry-leading
positions to take advantage of market dynamics and build on its
momentum."

The 2016 Annual Meeting

Quantum and VIEX have agreed that stockholders will get to vote to
elect the following seven individuals at the 2016 Annual Meeting:

Current board members
  
   * Paul Auvil III, chairman
   * Jon Gacek, president and CEO
   * Gregg Powers
   * Clifford Press
   * David Roberson

New members

   * John Mutch
   * Raghavendra Rau

Current Quantum board members Robert Andersen, Louis DiNardo, Dale
Fuller and David Krall will not stand for re-election at the 2016
Annual Meeting.  As part of the agreement, VIEX will vote all of
its shares in favor of all seven of the board's nominees at the
2016 Annual Meeting.

Mr. Auvil added, "On behalf of the board, I also would like to
thank Robert Andersen, Louis DiNardo, Dale Fuller and David Krall
for their many contributions and dedication to Quantum over the
past several years."

Appointment of Three New Independent Directors

In addition, under the terms of the agreement, the Quantum board
immediately will retain Korn/Ferry International to commence a
search for three new, independent and qualified directors.  The
primary focus will be recruiting and appointing new directors who
possess data storage expertise, including at least one new director
who has cloud storage software experience.  Further, the company
will seek to add at least one new director who is qualified to
serve as chair of the board's Audit Committee and one director who
is qualified to serve on the Leadership and Compensation Committee.
These directors ultimately will replace three of the directors
being nominated for election at the 2016 Annual Meeting.

Director Selection Process

Quantum and VIEX have agreed to a specific process for the
selection and appointment of the three new directors, as follows:
  
  * Messrs. Powers and Press will run the selection process and
    will be responsible for interviewing the director candidates.
  
  * Messrs. Powers and Press will consult with Mr. Auvil once they

    have agreed on a candidate that meets the identified criteria.
  
  * Following that consultation, Messrs. Powers and Press will
    notify VIEX about a selected candidate and provide an
    opportunity for VIEX to interview him/her and decide whether
    to approve the candidate for presentation to the full board.
    VIEX will not unreasonably withhold its consent.
  
  * Upon VIEX's approval, a candidate will be presented to the
    full board for review and approval, and the directors will
    have an opportunity to meet the candidate in advance.
  
  * If approved by the full board, the candidate will be appointed

    as a director immediately.
  
  * The new directors as they are elected will replace Messrs.
    Mutch, Gacek and Roberson in that order.  Mr. Gacek will
    remain president and CEO.

Timing of Appointment of New Directors

Quantum and VIEX have agreed that two of the new independent
directors shall be seated no later than 60 days following the date
of the settlement agreement and that the third new independent
director shall be seated no later than 90 days following the date
of the settlement agreement.

The 2017 Annual Meeting

Quantum has committed to hold the 2017 Annual Meeting in August
2017 and agreed to not delay the 2017 Annual Meeting past Aug. 31,
2017.  At the 2017 Annual Meeting, stockholders will have the
opportunity to vote for the election of the reconstituted board.

VIEX Standstill Agreement

Subject to earlier termination under certain circumstances, VIEX
has agreed to standstill provisions through the next two Quantum
annual meetings: the 2016 Annual Meeting to be held on March 31,
2017 and the 2017 Annual Meeting to be held in August 2017.  After
the 2017 Annual Meeting, the VIEX standstill will expire.

The full text of the agreement between Quantum and VIEX is
available for free at https://is.gd/jE26rE

Quantum stockholders are not required to take any action at this
time.

                       About Quantum Corp.

Based in San Jose, California, Quantum Corp. (NYSE:QTM) --
http://www.quantum.com/-- is a storage company specializing in    

backup, recovery and archive.  Quantum provides a comprehensive,
integrated range of disk, tape, and software solutions supported
by a world-class sales and service organization.

For the year ended March 31, 2016, Quantum Corp reported a net loss
of $74.68 million following net income of $16.76 million for the
year ended March 31, 2015.  As of Dec. 31, 2016, Quantum had $230.7
million in total assets, $346.2 million in total liabilities and a
stockholders' deficit of $116.6 million.


QUANTUM CORP: VIEX Capital Has 11% Stake as of March 2
------------------------------------------------------
In an amended Schedule 13D filed with the U.S. Securities and
Exchange Commission, VIEX Capital Advisors, LLC and Eric Singer
disclosed that as of March 2, 2017, they may be deemed to
beneficially own 29,531,722 shares of common stock of Quantum
Corporation representing 10.9 percent of the shares outstanding.

Also included in the regulatory filing are: VIEX Opportunities
Fund, LP - Series One, 7,407,865 common shares; VIEX Opportunities
Fund, LP - Series Two, 1,413,191 common shares; VIEX Special
Opportunities Fund III, LP, 20,710,666 common shares; VIEX GP, LLC,
8,821,056 common shares; and VIEX Special Opportunities GP III,
LLC, 20,710,666 common shares.

The aggregate percentage of Shares reported owned by each Reporting
Person is based upon 271,322,956 Shares outstanding, which is the
total number of Shares outstanding as of Jan. 27, 2017 as reported
in the Issuer's Quarterly Report on Form 10-Q, filed with the SEC
on Feb. 3, 2017.

A full-text copy of the regulatory filing is available at:

                       https://is.gd/NAyjb7

                       About Quantum Corp.

Based in San Jose, California, Quantum Corp. (NYSE:QTM) --
http://www.quantum.com/-- is a storage company specializing in    

backup, recovery and archive.  Quantum provides a comprehensive,
integrated range of disk, tape, and software solutions supported
by a world-class sales and service organization.

For the year ended March 31, 2016, Quantum Corp reported a net loss
of $74.68 million following net income of $16.76 million for the
year ended March 31, 2015.  As of Dec. 31, 2016, Quantum had $230.7
million in total assets, $346.2 million in total liabilities and a
stockholders' deficit of $116.6 million.


RA HOLDING: Has $9.59M Total Income for 6 Months Ended Dec. 31
--------------------------------------------------------------
RA Holding Corp. has published its unaudited interim condensed
financial statements as of and for the six month period ended Dec.
31, 2016.  The Company had $140,065,000 in assets and $140,064
million in liabilities, and $1,000 in equity.  RA Holding had total
income of $9,590,000 and total expenses of $7,258,000 for the six
months ended Dec. 31, 2016, compared with $10,649,000 in total
income and $6,459,000 in total expenses for the same period in
2015.  The financial reports are available at:
http://dev.gardencitygroup.com/cases/arcapita/reports.php

                   About RA Holding Corp.

RA Holding Corp. is the top-level holding company in the group
created pursuant to the plan of reorganization of Arcapita Bank
B.S.C.(c) and certain of its affiliates under chapter 11 of the
United States Bankruptcy Code.


REPUBLIC AIRWAYS: Wells Fargo, ALF VI Object to Proposed Plan Order
-------------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
will hold on March 8, 2017, at 11:00 a.m. to consider the response
of Wells Fargo Bank Northwest, N.A., as owner trustee, and ALF VI,
Inc., as owner participant, to Republic Airways Holdings Inc. and
certain of its subsidiaries' proposed form of plan confirmation
order.  The Residco Parties want the Court to strike portions of
declarations submitted by the Debtors in support of the
confirmation.

As reported by the Troubled Company Reporter on Dec. 29, 2016, the
Debtors filed a disclosure statement for their second amended joint
plan of reorganization, dated Dec. 19, 2016, stating that holders
of claims in Class 3(a) (general unsecured claims) will either
receive a distribution of 45% in cash or 41%-48% new common stock
under the plan.

Alex Wolf, writing for Bankruptcy Law360, reports that the Debtors
urged the Court on March 1 to confirm its Plan over an objection
filed by Wells Fargo, saying the Plan will preserve thousands of
jobs and has the backing of its unsecured creditors.

On March 6, the Residco Parties filed a motion -- a copy of which
is available at http://bankrupt.com/misc/nysb16-10429-1568.pdf--
for leave to file instanter the reply of the Residco Parties in
further opposition to the Debtors' Plan with respect to new matters
raised by (a) the response submitted by the Debtors, dated March 1,
2017, and (b) the reply submitted by the Official Committee of
Unsecured Creditors, dated March 1, 2017.  The Residco Parties said
that the Court should exercise its broad discretion and allow the
Residco Parties to file, instanter, the Residco Reply because the
Debtors' response, the Committee's response present no less than
six new matters and arguments -- none of which were previously
advanced by the Debtors, but all of which are material to the
Court's analysis of the Plan.

On March 6, the Residco Parties filed with the Court a response --
a copy of which is available at
http://bankrupt.com/misc/nysb16-10429-1574.pdf-- to the form of
the Proposed Order Confirming the Plan filed by the Debtors on
March 1, 2017, and filed an objection and motion to strike certain
portions of (i) that certain declaration of Bryan K. Bedford in
Support of Confirmation of Debtors' Plan, dated March 1, 2017, and
(ii) that certain declaration of Joseph P. Allman in support of
confirmation of the Debtors' Plan.  By this response and motion to
strike, the Residco Parties (a) submit comments to the Debtors'
Proposed Confirmation Order, (b) object and seek to strike certain
portions of the Bedford Declaration, and (c) object and seek to
strike certain portions of the Allman Declaration, in each case, in
conformance with the objections and replies set forth in the
Residco Objection and the Residco Reply.

The Residco Parties have revised the Confirmation Order to reflect,
among other matters, (a) their current objections to the Plan, (b)
their proposed clarification regarding the Substantive
Consolidation Provisions to reflect the Average Claims Treatment
and (c) the addition of a provision relating to the requirement for
reserves to be maintained for Disputed Claims.

The Residco Parties object to and seek to strike certain portions
of the Bedford Declaration and the Allman Declaration.  The Residco
Parties are interposing these objections in conjunction with their
objections to the Plan.

The Residco Parties are represented by:

     Michael J. Edelman, Esq.
     VEDDER PRICE P.C.
     1633 Broadway, 31st Floor
     New York, New York 10019
     Tel: (212) 407-7700
     Fax: (212) 407-7799
     E-mail: MJEdelman@VedderPrice.com

          -- and --

     Douglas J. Lipke, Esq.
     VEDDER PRICE P.C.
     222 North LaSalle Street, Suite 2600
     Chicago, Illinois 60601
     Tel: (312) 609-7500
     Fax: (312) 609-5005
     E-mail: DLipke@VedderPrice.com

                   About Republic Airways

Based in Indianapolis, Indiana, Republic Airways Holdings Inc.,
(OTCMKTS:RJETQ) owns Republic Airline and Shuttle America
Corporation. Republic Airline and Shuttle America --
http://www.rjet.com/-- offer approximately 1,000 flights daily to

105 cities in 38 states, Canada, the Caribbean and the Bahamas
through Republic's fixed-fee codeshare agreements under major
airline partner brands of American Eagle, Delta Connection and
United Express.

Republic Airways Holdings Inc. and six affiliated debtors each
filed a voluntary petition for relief under Chapter 11 of the
United States Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No.
16-10429) on Feb. 25, 2016. The petitions were signed by Joseph P.
Allman as senior vice president and chief financial officer. Judge
Sean H. Lane has been assigned the cases.

As of Jan. 31, 2016, on a consolidated basis, Republic had assets
and liabilities of $3,561,000,000 and $2,971,000,000 (unaudited),
respectively.

Zirinsky Law Partners PLLC and Hughes Hubbard & Reed LLP are
serving as Republic's legal advisors in the restructuring. Seabury
Group LLC is serving as financial advisor. Deloitte & Touche LLP is
the independent auditor. Prime Clerk is the claims and noticing
agent.

The U.S. Trustee for Region 2 appointed seven creditors of Republic
Airways Holdings Inc. to serve on the official committee of
unsecured creditors. The Committee retained Morrison & Foerster LLP
as attorneys and Imperial Capital, LLC, as investment banker and
co-financial advisor.


RESOLUTE ENERGY: Will Buy Properties in Delaware Basin for $160M
----------------------------------------------------------------
Resolute Energy Corporation reported that it has entered into a
definitive agreement with undisclosed private sellers to acquire
producing and undeveloped oil and gas properties in Reeves County,
Texas for a purchase price of $160 million.  The transaction is
expected to close on or about May 15, 2017, subject to customary
conditions.

Acquisition highlights:

* Acquiring approximately 4,600 net acres in Reeves County,
   consisting of 2,187 net acres adjacent to Resolute's existing
   operating area in Reeves County and 2,405 net acres in southern
   Reeves County

* The Orla Project Area includes:

    -- Interests in two operated 4,500 foot horizontal Wolfcamp
       wells that currently produce approximately 800 net Boe per
       day.

    -- Six operated drilled but uncompleted Wolfcamp wells
      ("DUCs"), four of which have lateral lengths of
       approximately 4,500 feet and two with approximately 7,500
       foot laterals; one non-operated 10,000 foot lateral
       Wolfcamp well is currently drilling.

    -- Currently estimate that the acreage supports 112 gross (54
       net) locations targeting the upper and lower Wolfcamp A and

       the Wolfcamp B on 80-acre spacing, two-thirds of which
       support drilling mid- to long-lateral lengths.

    -- Additional drilling upside exists in the Wolfcamp X/Y and
       Wolfcamp C.

    -- Approximately 95 percent operating control of drilling
       locations.

* The Southwest Rim Project Area includes:

    -- 2,405 net acres with development potential in the Wolfcamp
       and other zones.

    -- Proximate to successful Wolfcamp wells approximately five
       miles east of this acreage as well as Barnett and Woodford
       development in the nearby Alpine High area.

    -- Operated, highly contiguous acreage with an average 70
       percent working interest; more than two and one half years
       of primary term left on the leases.

Resolute plans to complete all of the DUCs sequentially immediately
following closing of the acquisition and expects to have all of
them on production by mid-July of 2017.  Resolute is
currently running two rigs in the Delaware Basin and is evaluating
adding a third rig in the second half of 2017 to accelerate
development of the Orla acreage position.  

Consideration for the acquisition will be $160 million cash,
subject to customary adjustments.  Resolute is evaluating the
optimal financing for this transaction, and anticipates that the
ultimate financing may have components of long-term debt and
equity.  In the interim, however, Resolute has entered into a
commitment letter for a $100 million bridge financing facility with
BMO Capital Markets.  Together with borrowing availability under
its revolving credit facility, the bridge facility would allow
Resolute to close the acquisition without an immediate long-term
debt or equity issuance.  

Rick Betz, Resolute's chief executive officer, said: "This is
exactly the kind of targeted, focused, consolidating opportunity
that leverages the strengths of our team and our assets.  Upon
closing, we will have approximately 21,000 net acres in Reeves
County, where we have been drilling some of the most successful
Wolfcamp wells in the Delaware Basin.  This part of the basin is
one of the most exciting and economically attractive oil and gas
plays in the U.S.  The acreage to be acquired is adjacent to our
Appaloosa project area and immediately north of our Mustang project
area, and 95 percent of the acquired acreage will be operated by
Resolute.

"As we complete the drilled but uncompleted wells and look to
accelerate development of the combined acreage position with a
third rig later this year, we expect that this transaction will add
materially to our production beginning in the second half of 2017.
As with our Firewheel acquisition in October 2016, this transaction
allows us to add acreage, production and opportunity without either
the uncertainty associated with acquiring acreage outside of Reeves
County or adding significantly to our staffing and infrastructure
needs."

The Acquisition Agreement contains terms and conditions customary
to transactions of this type.  The purchase price is subject to
customary purchase price adjustment.  Subject to the Company's
right to be indemnified for certain liabilities for a limited
period of time and for breaches of representations, warranties and
covenants, we will assume substantially all liabilities associated
with the Properties.  The closing of the acquisition is expected to
occur on or about May 15, 2017, and is subject to the satisfaction
or waiver of certain customary conditions, including the material
accuracy of the representations and warranties of us and Sellers,
and performance of covenants.  The Acquisition Agreement contains
certain customary termination rights for each of the Company and
Sellers.  The transaction will have an effective date of May 1,
2017.

Investor Presentation Supplement

The Company will post on its website, www.resoluteenergy.com, a
supplement to its investor presentation concerning this
acquisition.

                About Resolute Energy Corporation

Resolute Energy Corp. -- http://www.resoluteenergy.com/-- is an
independent oil and gas company focused on the acquisition,
exploration, exploitation and development of oil and gas
properties, with a particular emphasis on liquids focused,
long-lived onshore U.S. opportunities.  Resolute's properties are
located in the Paradox Basin in Utah and the Permian Basin in Texas
and New Mexico.

Resolute reported a net loss of $742 million in 2015, a net loss of
$21.9 million in 2014, and a net loss of $114 million in 2013.

As of Sept. 30, 2016, Resolute Energy had $294.9 million in total
assets, $634.0 million in total liabilities, and a total
stockholders' deficit of $339.1 million.

                          *    *    *

As reported by the TCR on Sept. 26, 2016, Moody's Investors
Service, upgraded Resolute Energy's Corporate Family Rating (CFR)
to 'Caa2' from 'Caa3', the Probability of Default Rating to Caa2-PD
from Caa3-PD and its senior unsecured notes rating to 'Caa3' from
'Ca'.  The Speculative Grade Liquidity rating was affirmed at
SGL-3.  The rating outlook was changed to positive from stable.

"The upgrade to Caa2 reflects Resolute's improved production and
drilling economics, which provide good visibility to continued
growth in a mid $40s oil price environment without increasing debt.
While leverage remains high, we expect moderation in the company's
reserve- and production-based debt metrics from significant
production growth at very competitive drillbit costs," noted John
Thieroff, Moody's VP-senior analyst.


SAILING EMPORIUM: Seeks to Hire Gary T. Mott as Accountant
----------------------------------------------------------
The Sailing Emporium, Inc. seeks approval from the U.S. Bankruptcy
Court for the District of Maryland to hire an accountant.

The Debtor proposes to hire Gary T. Mott & Associates, CPA, P.A. to
provide bookkeeping services, assist in the preparation of its
financial statements and yearly income tax returns, and provide
other accounting services related to its Chapter 11 case.

The hourly rates charged by the firm are:

     Partners           $250 - $295
     Staff               $95 - $165
     Administrative             $95

Gary Mott, a certified public accountant, disclosed in a court
filing that his firm is a "disinterested person" as defined in
section 101(14) of the Bankruptcy Code.

GTMA can be reached through:

     Gary T. Mott
     Gary T. Mott & Associates, CPA, P.A.
     650 Ritchie Highway, Suite 203
     Severna Park, MD 21146
     Office:  (410) 647-1373
     Fax: (410) 647-1568
     Email: gm@garymott.com

                   About The Sailing Emporium

The Sailing Emporium, Inc. owns and operates a full service marina
located on the picturesque Eastern Shore of Maryland on eight acres
on Rock Hall Harbor in Rock Hall, Maryland.  Services include boat
sales, boat repair and restoration, electronics sales and service
and sailboat charters.  The property also includes a marine store
and nautical gift shop. The property has 155 deep water slips and
20 transient slips, and the landscaped grounds and other amenities
have made this marina a point of interest in Rock Hall.

The Sailing Emporium filed a chapter 11 petition (Bankr. D. Md.
Case No. 16-24498) on November 1, 2016. The petition was signed by
William Arthur Willis, president.  The case is assigned to Judge
Thomas J. Catliota.  The Debtor estimated assets and liabilities at
$1 million to $10 million at the time of the filing.  

The Debtor is represented by Lisa Yonka Stevens, Esq., at Yumkas,
Vidmar, Sweeney & Mulrenin, LLC.  The Debtor employs Andrew Cantor
and Marcus & Millichap Real Estate Investment Services as broker.


SCIENTIFIC GAMES: Appoints Michael Winterscheidt as CAO
-------------------------------------------------------
Scientific Games Corporation has named Michael Winterscheidt as its
chief accounting officer effective Feb. 27, 2017.

Mr. Winterscheidt, 46, has served as the Company's vice president,
corporate controller since joining the Company in July 2016. Before
joining the Company, Mr. Winterscheidt served three years with
Caesars Entertainment Corporation, ending his tenure there as vice
president and corporate controller.  Prior to that, he had
leadership roles leading the corporate accounting and financial
reporting organizations of Delta Airlines, Inc., from 2010 to 2013,
and Microsoft Corporation, from 2002 to 2009.  He was previously a
manager in the audit practice of the global accounting firm of
Arthur Andersen LLP.

On Feb. 27, 2017, the Company entered into an amended and restated
employment agreement with Mr. Winterscheidt.  The term of Mr.
Winterscheidt's Amended Employment Agreement extends through
Feb. 27, 2018, subject to automatic extension for an additional
year at the end of the term and each anniversary thereof unless
timely notice of non-renewal is given.

Under the Amended Employment Agreement:

  * Mr. Winterscheidt will receive an annual base salary of
    $425,000.  He will have the opportunity to earn up to 50% of
    his base salary as annual incentive compensation based upon
    achievement of target level performance goals for a given year
    and up to 100% of his base salary upon achievement of maximum
    performance goals for a given year.

  * Mr. Winterscheidt will be entitled to receive annual equity
    awards in the discretion of the Compensation Committee of the
    Board of Directors of the Company in accordance with the
    Company's plans and programs for other executives of the
    Company.

  * In the event the Company terminates Mr. Winterscheidt's
    employment without "Cause" (including in connection with a
    non-renewal of the Amended Employment Agreement) or Mr.
    Winterscheidt terminates his employment for "Good Reason" (as
    such terms are defined in the Amended Employment Agreement)
    during the term of the Amended Employment Agreement, the
    Company will generally pay severance to Mr. Winterscheidt in
    an amount equal to Mr. Winterscheidt's annual base salary,
    which will be payable over a period of 12 months.

  * In the event of Mr. Winterscheidt's death or "Total
    Disability" (as such term is defined in the Amended Employment

    Agreement) during the term of the Amended Employment
    Agreement, he will not be entitled to any special severance
    payments (but will receive any accrued but unpaid compensation
    and payment with respect to any insurance policies that may be
    applicable to him or his estate, as the case may be).

Mr. Winterscheidt's Amended Employment Agreement also contains,
among other things, covenants imposing certain obligations on Mr.
Winterscheidt with respect to confidentiality and proprietary
information, and restricting his ability to engage in certain
activities in competition with the Company, or solicit employees
and/or customers of the Company, during his employment and for a
period of 12 months after termination.

                      About Scientific Games

Scientific Games Corporation is a developer of technology-based
products and services and associated content for worldwide gaming
and lottery markets.  The Company's portfolio includes instant and
draw-based lottery games; electronic gaming machines and game
content; server-based lottery and gaming systems; sports betting
technology; loyalty and rewards programs; and social, mobile and
interactive content and services.  Visit
http://www.scientificgames.com/      

Scientific Games reported a net loss of $353.7 million on $2.88
billion of total revenue for the year ended Dec. 31, 2016, compared
to a net loss of $1.39 billion on $2.75 billion of total revenue
for the year ended Dec. 31, 2015.  The Company's balance sheet at
Dec. 31, 2016, showed $7.08 billion in total assets, $9.02 billion
in total liabilities and a total stockholders' deficit of $1.93
billion.

                          *   *    *

In November 2014, Moody's Investors Service downgraded Scientific
Games Corporation's Corporate Family Rating to 'B2' from 'B1'
following the announcement that the company had completed its
merger with Bally Technologies, Inc.

As reported by the TCR on Aug. 9, 2016, S&P Global Ratings lowered
its corporate credit rating on Scientific Games to 'B' from 'B+'.
The outlook is stable.  "The downgrade of Scientific Games reflects
our forecast for lower EBITDA growth and weaker credit measures
than we previously expected," said S&P Global Ratings credit
analyst Ariel Silverberg.


SCIENTIFIC GAMES: Incurs $353.7 Million Net Loss in 2016
--------------------------------------------------------
Scientific Games Corporation filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K disclosing a net
loss of $353.7 million on $2.88 billion of total revenue for the
year ended Dec. 31, 2016, compared to a net loss of $1.39 billion
on $2.75 billion of total revenue for the year ended Dec. 31,
2015.

The Company's balance sheet at Dec. 31, 2016, showed $7.08 billion
in total assets, $9.02 billion in total liabilities and a total
stockholders' deficit of $1.93 billion.

As of Dec. 31, 2016, the Company's principal sources of liquidity,
other than cash flows provided by operating activities, were cash
and cash equivalents and amounts available under its revolving
credit facility.

Subsequent to Dec. 31, 2016, the Company successfully completed a
series of financing transactions, including a private offering of
$1.15 billion in aggregate principal amount of 7.000% senior
secured notes due 2022 and amended its credit agreement which
extended the maturity of its term loans and revolving credit
facility, and reduced the applicable interest rate on the term
loans.  These actions reduced the total principal value of its debt
by $45.0 million, including payment of the remaining $45.0 million
on its revolving credit facility, lowered annual cash interest
cost, extended the maturity out to 2021 and 2022 for 95 percent of
its debt, and significantly reduced its interest rate exposure to
floating rates.

"We believe that our cash flow from operations, available cash and
cash equivalents and available borrowing capacity under our
existing or anticipated financing arrangements will be sufficient
to meet our liquidity needs for the foreseeable future; however, we
cannot assure that this will be the case.  We believe that
substantially all cash held outside the U.S. is free from legal
encumbrances or similar restrictions that would prevent it from
being available to meet our global liquidity needs," the Company
stated in the report.

A full-text copy of the Form 10-K is available for free at:

                      https://is.gd/7bLyW1

                     About Scientific Games

Scientific Games Corporation is a developer of technology-based
products and services and associated content for worldwide gaming
and lottery markets.  The Company's portfolio includes instant and
draw-based lottery games; electronic gaming machines and game
content; server-based lottery and gaming systems; sports betting
technology; loyalty and rewards programs; and social, mobile and
interactive content and services.  Its Web site is
http://www.scientificgames.com/                     

                          *    *    *

In November 2014, Moody's Investors Service downgraded Scientific
Games Corporation's Corporate Family Rating to 'B2' from 'B1'
following the announcement that the company had completed its
merger with Bally Technologies, Inc.

As reported by the TCR on Aug. 9, 2016, S&P Global Ratings lowered
its corporate credit rating on Scientific Games to 'B' from 'B+'.
The outlook is stable.  "The downgrade of Scientific Games reflects
our forecast for lower EBITDA growth and weaker credit measures
than we previously expected," said S&P Global Ratings credit
analyst Ariel Silverberg.


SCIENTIFIC GAMES: May Issue 100,000 Class A Shares to COO & Pres.
-----------------------------------------------------------------
Scientific Games Corporation filed with the Securities and Exchange
Commission a Form S-8 registration statement to register 100,000
shares of the Company's Class A common stock that are issuable
under an inducement equity award agreement.

The shares of Class A Common Stock are issuable upon vesting and
settlement of performance-conditioned restricted stock units
granted to KJ Tjon on Feb. 23, 2017 pursuant to the Inducement
Equity Award Agreement in connection with the commencement of Ms.
Tjon's employment with the Company as chief operating officer &
president.

A full-text copy of the Form S-8 prospectus is available at:

                      https://is.gd/uGlbcs

                     About Scientific Games

Scientific Games Corporation is a developer of technology-based
products and services and associated content for worldwide gaming
and lottery markets.  The Company's portfolio includes instant and
draw-based lottery games; electronic gaming machines and game
content; server-based lottery and gaming systems; sports betting
technology; loyalty and rewards programs; and social, mobile and
interactive content and services.  Visit
http://www.scientificgames.com/      

Scientific Games reported a net loss of $353.7 million on $2.88
billion of total revenue for the year ended Dec. 31, 2016, compared
to a net loss of $1.39 billion on $2.75 billion of total revenue
for the year ended Dec. 31, 2015.  The Company's balance sheet at
Dec. 31, 2016, showed $7.08 billion in total assets, $9.02 billion
in total liabilities and a total stockholders' deficit of $1.93
billion.

                          *    *    *

In November 2014, Moody's Investors Service downgraded Scientific
Games Corporation's Corporate Family Rating to 'B2' from 'B1'
following the announcement that the company had completed its
merger with Bally Technologies, Inc.

As reported by the TCR on Aug. 9, 2016, S&P Global Ratings lowered
its corporate credit rating on Scientific Games to 'B' from 'B+'.
The outlook is stable.  "The downgrade of Scientific Games reflects
our forecast for lower EBITDA growth and weaker credit measures
than we previously expected," said S&P Global Ratings credit
analyst Ariel Silverberg.  


SKYLINE CORP: Inks Real Estate Purchase Pact with Champion Home
---------------------------------------------------------------
Skyline Corporation entered into a Real Estate Purchase Agreement
with Champion Home Builders, Inc., on Feb. 24, 2017, to sell
certain improved real property and certain equipment located in
Mansfield, Texas.  The assets to be disposed of in the transaction
include, but are not limited to:

   * A manufactured housing facility consisting of approximately
     79,000 square feet situated on 10 acres (Tract 13Q03, A-644,
     Thomas J. Hanks Survey, City of Mansfield, Tarrant County,
     Texas);

   * Equipment used in the production of product.  Equipment does
     not include raw materials, inventory and licensed vehicles;
     and

   * Champion has the option but not the obligation to assume any
     leased equipment of the Corporation, which the Corporation
     shall assign to Champion upon 15 days written notice by the
     Corporation.

The amount and nature of the consideration to be received by the
Corporation for the assets sold include:

   * A non-refundable cash payment of $1,000;

   * A good faith cash deposit of $99,000.  This amount is
     refundable to Champion should it choose to terminate the
     Agreement; and

   * A cash payment of $2,125,000 due and payable at the Closing,
     which is scheduled to occur on or before April 7, 2017.

On Feb. 28, 2017, the Corporation and Champion entered into a
Novation and Amendment of Contract to address the following:

  * The Mansfield Property is owned by Homette Corporation, a
    wholly owned subsidiary of the Corporation; and

  * A portion of the Mansfield Property is leased for oil and gas
    production under an agreement under which Homette is entitled
    to certain payments.

The Corporation and Champion novated and amended the Agreement in
order to substitute Homette for the Corporation as the "Seller"
under the Agreement, and to provide for Homette to continue to
receive the Royalties under the Oil and Gas Lease for a period of
60 months following the closing of the transactions under the
Agreement as amended by the Novation.  Pursuant to the Novation,
Homette has assumed and agreed to perform all of the
Corporation’s obligations under the Agreement.  In addition,
Meridian Title Corporation is identified as the Title Company
referred in the Agreement.

The Agreement contains customary representations, warranties, and
indemnification provisions.

                         About Skyline Corp
  
Skyline Corporation was originally incorporated in Indiana in 1959,
as successor to a business founded in 1951.  Skyline Corporation
and its consolidated subsidiaries designs, produces and markets
manufactured housing, modular housing and park models to
independent dealers and manufactured housing communities located
throughout the United States and Canada.  Manufactured housing is
built to standards established by the U.S. Department of Housing
and Urban Development, modular homes are built according to state,
provincial or local building codes, and park models are built
according to specifications established by the American National
Standards Institute.

For the fiscal year ended May 31, 2015, the Company reported a net
loss of $10.41 million compared to a net loss of $11.9 million for
the year ended May 31, 2014.

As of Nov. 30, 2016, Skyline had $57.72 million in total assets,
$32.38 million in total liabilities and $25.34 million in total
shareholders' equity.

Crowe Horwath LLP, in Fort Wayne, Indiana, issued a "going concern"
qualification on the consolidated financial statements for the year
ended May 31, 2015, citing that the Company has incurred recurring
operating losses and negative cash flows from operating activities.
The Company has a line of credit in place, however prospective
debt covenant violations may limit the Company's ability to access
these funds which would impact its liquidity.  These matters raise
substantial doubt about the Company's ability to continue as a
going concern.


SOUTHWEST CUTTERS: May Use Cash Collateral Until May 5
------------------------------------------------------
The Hon. H. Christopher Mott of the U.S. Bankruptcy Court for the
Western District of Texas entered an agreed order granting
Southwest Cutters, LLC, to use cash collateral on an interim
basis.

A copy of the court order and the budget is available at:

          http://bankrupt.com/misc/txwb17-30238-18.pdf

Objections to the use of cash collateral must be filed by March 9,
2017, at 10:00 a.m. Mountain Time.

The Debtor will make adequate protection payments of $5,633 on
March 1, 2017, and on the first of each month thereafter to the
first lienholder on the cash collateral, Team Growth, LLC, whom the
Debtor has scheduled for a debt of $1,685,728.

The Court awards on an interim basis a replacement lien to Team
Growth in the amount of the cash collateral's scheduled petition
date value, consisting of accounts receivable, inventory, work in
process, and finished goods not yet shipped.  The current security
interests and liens of Team Growth in cash collateral will also
continue in the effect in their current priority.  The
after-acquired liens will have the same priority as the existing
liens in the cash collateral, and be fully effective and perfected
without filing, recording or other act, to the same extent that
they were effective and perfected prepetition.  

As reported by the Troubled Company Reporter on Feb. 20, 2017, the
Debtor sought permission from the Court to use cash collateral
through December 2017.

Southwest Cutters, LLC, is a Texas limited liability company that
operates a cut-make-and-trim business, manufacturing garments.  It
acquires an inventory of fabric, trim, and accessories in the
course of its operations.  It converts the inventory
into-work-in-process and finished goods, and finished goods once
shipped become accounts receivable and proceeds of accounts
receivable.

Southwest Cutters filed for Chapter 11 bankruptcy protection
(Bankr. W.D. Tex. Case No. 17-3028) on Feb. 13, 2017.

Judge Christopher Mott presides over the case.


SPRINT CORP: S&P Affirms 'B' Corp. Credit Rating
------------------------------------------------
S&P Global Ratings said it affirmed all of its ratings, including
the 'B' corporate credit rating, on Overland Park, Kan.-based
wireless carrier Sprint Corp.  The outlook is stable.

"The revision of our liquidity assessment to adequate follows a
series of transactions that have improved the company's liquidity
position, although we recognize that it still has significant debt
maturities and FOCF deficits over the next 18 months," said S&P
Global Ratings credit analyst Allyn Arden.

The outlook is stable.  S&P believes that a combination of
aggressive cost reduction initiatives, improving post-paid
subscriber trends, network enhancements, and an improved liquidity
position provide stability for the rating over the next 12 months,
despite significant competitive pressures and ongoing FOCF
deficits.



SUNEDISON INC: Brookfield to Take Over TerraForm Companies
----------------------------------------------------------
Joshua Jamerson, writing for The Wall Street Journal Pro
Bankruptcy, reported that Canada's Brookfield Asset Management has
reached an agreement to buy TerraForm Global Inc. and take a
controlling stake in TerraForm Power Inc., a potentially large step
forward in corporate parent SunEdison Inc.'s bankruptcy case.

According to the report, under two deals announced March 7,
Brookfield will pay $787 million in cash to buy TerraForm Global
and become the sponsor for TerraForm Power with 51% ownership of
the company.

The investment firm in November floated the possibility of a
takeover of TerraForm Global -- which owns projects in Brazil,
China, India and emerging markets -- and TerraForm Power, which
owned projects in the U.S., Canada, U.K. and Chile, the report
related.  Both companies are the so-called yieldcos that helped
fuel the now-bankrupt SunEdison's boom, the report further
related.

Under the terms of the TerraForm Global deal announced on March 7,
Brookfield will purchase all of the outstanding Class A shares of
TerraForm Global for $5.10 a share in cash, the report said.  That
is a 20% premium to TerraForm Global's stock price as of March 6's
close, the report added.  Brookfield said it was a roughly 50%
premium to the closing price Sept. 16, the last trading day before
TerraForm Global's announcement that it would explore strategic
alternatives, the report noted.

Brookfield said the TerraForm Global transaction, subject to a
shareholder vote and regulatory approval, is expected to close in
the second half of 2017, the report said.  The deal is also subject
to certain approvals from the U.S. bankruptcy court overseeing
SunEdison's chapter 11 bankruptcy, the report added.

                     About SunEdison, Inc.

SunEdison, Inc. (OTC PINK: SUNEQ), is a developer and seller of
photovoltaic energy solutions, an owner and operator of clean power
generation assets, and a global leader in the development,
manufacture and sale of silicon wafers to the semiconductor
industry.

On April 21, 2016, SunEdison, Inc., and 25 of its affiliates each
filed a Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case Nos.
16-10991 to 16-11017).  Martin H. Truong, the senior vice
president, general counsel and secretary, signed the petitions.
The Debtors disclosed total assets of $20.7 billion and total debt
of $16.1 billion as of Sept. 30, 2015.

The Debtors have hired Skadden, Arps, Slate, Meagher & Flom LLP as
counsel, Togut, Segal & Segal LLP as conflicts counsel, Rothschild
Inc. as investment banker and financial advisor, McKinsey Recovery
& Transformation Services U.S., LLC, as restructuring advisors and
Prime Clerk LLC as claims and noticing agent.  The Debtors employed
PricewaterhouseCoopers LLP as financial advisors; and KPMG LLP as
their auditor and tax consultant.

SunEdison also has tapped Eversheds LLP as its special counsel for
Great Britain and the Middle East. Cohen & Gresser LLP has also
been retained as special counsel.

The Debtors retained Ernst &Young LLP to provide tax-related
services.  Keen-Summit Capital Partners LLC has been hired as real
estate advisor.  Binswanger of Texas, Inc. also has been retained
as real estate agent.

Sullivan & Cromwell LLP serves as counsel to TerraForm Power,
Inc.,
and TerraForm Global, Inc.

An official committee of unsecured creditors has been appointed in
the case.  The Committee tapped Weil, Gotshal & Manges LLP as its
general bankruptcy counsel and Morrison & Foerster LLP as special
counsel.  Togut, Segal & Segal LLP and Kobre & Kim LLP serve as
conflicts counsel.  Alvarez & Marsal North America, LLC, serves as
the Committee's financial advisors.

Counsel to the administrative agent under the Debtors' prepetition
first lien credit agreement are Richard Levy, Esq., and Brad
Kotler, Esq., at Latham & Watkins.

Counsel to the administrative agent under the postpetition DIP
financing facility are Scott Greissman, Esq., and Elizabeth Feld,
Esq. at White & Case LLP.

Counsel to the Tranche B Lenders (as defined in the DIP credit
agreement) and the steering committee of the second lien creditors
are Arik Preis, Esq., and Naomi Moss, Esq., at Akin Gump Strauss
Hauer & Field, LLP.

Counsel to the administrative agent under the Debtors' prepetition
second lien credit agreement is Daniel S. Brown, Esq., at
Pillsbury
Winthrop Shaw Pittman LLP.

The collateral trustee under the Debtors' prepetition second lien
credit agreement and the indenture trustee under each of the
Debtors' outstanding bond issuances, is represented by Marie C.
Pollio, Esq., at Shipman & Goodwin LLP.

Counsel to the ad hoc group of certain holders of the Debtors'
convertible senior notes is White & Case LLP's Tom Lauria, Esq.


TERESA GIUDICE: Wants Malpractice Ruling Against Ex-Counsel Upheld
------------------------------------------------------------------
Alex Wolf, writing for Bankruptcy Law360, reports that Teresa
Giudice and John W. Sywilok, the trustee of her Chapter 7 estate,
has asked the asked a New Jersey federal court to uphold a ruling
allowing them to pursue a malpractice action against her former
bankruptcy attorney, James A. Kridel Jr., in state court.
According to Law360, Ms. Giudice and Mr. Sywilok said that Mr.
Kridel has no ground to appeal a bankruptcy court's decision.

                       About the Giudices

In June 2010, Teresa Giudice, who portrays a role in Real
Housewives of New Jersey, and her husband, Joe, filed for
bankruptcy under Chapter 11 in the U.S. Bankruptcy Court in New
Jersey.  The Giudices owe creditors $10.85 million.

Chapter 7 trustee John Sywilok sued the Giudices.  The suit
claimed that the Debtors concealed key documents about their
finances and business transactions.  Mr. Sywilok also accused the
couple of making false statements under oath about their assets,
income and expenses.


TERRAFORM POWER: Brookfield to Acquire Controlling Stake
--------------------------------------------------------
TerraForm Power, Inc., an owner and operator of clean energy power
plants, and Brookfield Asset Management Inc. ("Brookfield"), a
global alternative asset manager, on March 7, 2017, disclosed that
they have entered into a definitive agreement under which
Brookfield will assume the role of TerraForm Power's sponsor and
Brookfield will become the controlling shareholder.

"With the successful completion of the Board's strategic
alternatives process, the TerraForm Power Board and management team
are confident that Brookfield's sponsorship will enable our company
to deliver cash to shareholders while strengthening our operations
for future value creation," said Peter Blackmore, Chairman and
Interim Chief Executive Officer of TerraForm Power. "This agreement
with Brookfield is the culmination of our efforts to separate our
operations from SunEdison and to position TerraForm Power for
future success.  With the support of Brookfield as TerraForm
Power's sponsor, we will gain additional resources to continue to
expand our portfolio and increase cash flow on a per share basis.
We look forward to working with the talented Brookfield team to
achieve a smooth transition."

"We are pleased to increase our significant investment in TerraForm
Power and to contribute our operating expertise in the sector to
position the company for growth," said Sachin Shah, Senior Managing
Partner of Brookfield.  "We are confident that our significant
renewable power operating experience, financial resources and
global institutional relationships will provide TerraForm Power
with strong financial flexibility and an attractive pipeline for
growth moving forward.  We look forward to participating alongside
all shareholders in capturing future upside and helping the
business to achieve its full potential over time."

"SunEdison is supporting this transaction, which it believes
maximizes potential proceeds for the estate and aligns Brookfield
with the interests of TerraForm Power in the future to create
value," said John Dubel, Chief Executive Officer and Chief
Restructuring Officer of SunEdison Inc. ("SunEdison").

The transaction has been approved by the Board of Directors of
TerraForm Power by all directors voting upon the recommendation of
the Corporate Governance and Conflicts Committee of TerraForm Power
and has also been approved by the Board of Directors of Brookfield.
The transaction also has the support of SunEdison.

Transaction Details

Key terms of the agreement:

   -- 51.0% Brookfield ownership in TerraForm Power post-closing
   -- $11.46 price per Class A share (derived from a pre-SunEdison
settlement price of $12.00 per share), with option for shareholders
to elect to receive shares as described below
   -- ~3,500 MW Right of First Offer ("ROFO") portfolio provided by
Brookfield to TerraForm Power, representing ~1,200 MW of operating
wind plants and ~2,300 MW of development-stage wind and solar
projects in North America and Western Europe
   -- $500 million sponsor equity line offered by Brookfield to
support future growth for TerraForm Power
   -- $1.7 billion implied total equity value
   -- $6.6 billion implied total enterprise value

For each Class A share, TerraForm Power shareholders (excluding
Brookfield) will be entitled to:

$1.94 per share in the form of a special dividend    

And either

$9.52 per share in additional cash OR 1 share in TerraForm Power
post-closing

$11.46 per share cash consideration and 0 shares
$1.94 per share in cash and 1 share

This structure is subject to proration, meaning that shareholders
that elect cash may still retain a portion of their shares, and
conversely, shareholders that elect to retain their shares may
still receive a portion of their consideration in cash.

Assuming full proration, Class A shareholders would be entitled
to:

$1.94 per share in the form of a special dividend

$4.50 per share in additional cash consideration for Class A
shareholders (excluding Brookfield)

$6.44 per share total cash consideration and 0.53 shares in
TerraForm Power post-closing

Post transaction closing, non-Brookfield shareholders, will hold
49.0% ownership in TerraForm Power.

As part of the transaction, Brookfield and TerraForm Power will
enter into a Master Services Agreement whereby Brookfield will
provide strategic services and long-term investment advisory
services.  In return, Brookfield will receive an annual management
fee as well as a management incentive fee and incentive
distribution rights aligning Brookfield's incentives with TerraForm
Power's public shareholders.

The Merger Agreement entitles Brookfield to receive additional
Class A Shares from TerraForm Power based upon the costs to
TerraForm Power of resolving certain pending Company litigation
matters, whether resolved before or after closing of the Merger.

Brookfield Asset Management: Uniquely positioned to serve as
Sponsor of TerraForm Power

Brookfield's sponsorship is expected to position TerraForm Power as
a premier wind and solar energy company focused on North America
and Western Europe, consistent with Brookfield's history of
delivering strong total shareholder returns for its other public
vehicles.  As TerraForm Power's new sponsor, Brookfield expects to
deleverage TerraForm Power with the goal of achieving investment
grade credit ratings in the medium to long term.  With the support
of Brookfield, TerraForm Power will be well positioned for growth
with access to one of the largest ROFO pipelines in the sector.
Following this transaction, Brookfield and TerraForm Power will be
both economically and structurally aligned.

Brookfield Asset Management has approximately $250 billion in
assets under management, and an established track record of
sponsorship across its business groups.  Brookfield possesses the
unique ability to provide the strategic management, operating,
investing, funding and related services required of a long-term
sponsor.  Brookfield also has substantial financial resources and
relationships with global institutions that are expected to
increase TerraForm Power's financial flexibility, and provide
improved access to capital.

One of Brookfield's core operational capabilities is in renewable
power, in which it owns, operates and develops over 17,000
megawatts of assets, representing $30 billion in power assets,
across eight countries, with over 2,000 operating employees with
expertise in asset-level operations and maintenance, power
marketing and sales and development, health, safety, security and
the environment, stakeholder relations and regulatory oversight.

TerraForm Power's Settlement Agreement with SunEdison

As part of its strategic alternatives process, TerraForm Power also
announced that it has entered into a settlement agreement with
SunEdison in connection with the Chapter 11 bankruptcy case of
SunEdison (the "SunEdison Bankruptcy").  This agreement is subject
to the approval of the U.S. bankruptcy court overseeing the
SunEdison Bankruptcy.

The settlement agreement contains certain terms to resolve the
legal relationship between TerraForm Power and SunEdison,
including, among other things, an allocation of ownership in
TerraForm Power prior to the transaction and, with certain
exceptions, the full mutual release of all claims of SunEdison and
its affiliated debtors and non-debtors.  All Class B Shares of
TerraForm Power and Class B Units of TerraForm Power LLC held by
SunEdison will be exchanged for Class A Shares immediately prior to
completion of the transaction.  The settlement then increases
SunEdison's ownership of TERP to 36.9% by issuing approximately 6.6
million incremental shares to SunEdison immediately prior to
completion of the transaction, reflecting the settlement of
intercompany claims, cancellation of incentive distribution rights
and other factors considered by TerraForm Power's Board.  In
addition, SunEdison will have the option, in certain circumstances
following a termination of the Merger Agreement, to convert its
Class B Shares into an amount of Class A Shares representing 36.9%
of the total Class A Shares.

The TerraForm Power Board of Directors approved the settlement
agreement upon the recommendation of the Corporate Governance and
Conflicts Committee, each member of which is independent and does
not also serve on the Board of Directors of TerraForm Global.  The
settlements of the intercompany claims are also subject to the
approval of the U.S. bankruptcy court overseeing the SunEdison
Bankruptcy.

Additional information about the settlement agreement can be found
in the Current Report on Form 8-K that TerraForm Power filed with
the Securities and Exchange Commission on March 7.  A copy of the
filing is available on the Investors page of TerraForm Power's
website at http://www.terraformpower.com.

Timing to Close and Approvals

The transaction is expected to be completed in the second half of
2017 and is subject to certain closing conditions, including
shareholder approval by the majority of Class A shareholders
(excluding SunEdison, Brookfield, their respective affiliates and
any persons with whom they comprise a "group" for securities law
purposes), regulatory approvals, and the approval of the U.S.
bankruptcy court overseeing the SunEdison Chapter 11 case,
including the Court's approval of the settlement agreement between
TerraForm Power and SunEdison and the Court's approval of
SunEdison's vote in favor of the sponsorship transaction.  The
completion of this transaction is independent of and not subject to
the completion of Brookfield's transaction with TerraForm Global,
Inc., also announced on March 7.

Advisors

Morgan Stanley, Centerview Partners and AlixPartners acted as
financial advisors to TerraForm Power on this transaction.
Sullivan & Cromwell LLP and Sidley Austin LLP acted as legal
counsel for TerraForm Power.  Greenberg Traurig LLP and Hughes
Hubbard & Reed LLP acted as legal counsel for the independent
directors and the Corporate Governance and Conflicts Committee.

Cravath, Swaine & Moore LLP acted as legal advisors to Brookfield.

Rothschild and Ankura Consulting acted as financial advisors to
SunEdison. Skadden Arps acted as legal counsel for SunEdison. For
certain of SunEdison's second lien creditor constituents, J.P.
Morgan Securities LLC and Houlihan Lokey acted as financial
advisors, and Akin Gump acted as legal counsel.

TerraForm Power, Inc., a controlled affiliate of SunEdison, Inc.,
is a holding company and its sole asset is an equity interest in
TerraForm Power, LLC ("Terra LLC"), an owner of renewable energy
facilities that have long-term contractual arrangements to sell the
electricity generated by these facilities to third parties.  The
related green energy certificates, ancillary services and other
environmental attributes generated by these facilities are also
sold to third parties.  TerraForm Power is the managing member of
Terra LLC, and operates, controls and consolidates the business
affairs of Terra LLC.


TOLL BROTHERS: Moody's Rates $300MM Sr. Unsecured Notes 'Ba1'
-------------------------------------------------------------
Moody's Investors Service assigned a Ba1 rating to the proposed
$300 million of 10-year senior unsecured notes of Toll Brothers
Finance Corp., which will be guaranteed by Toll Brothers, Inc. and
its principal operating subsidiaries. Moody's anticipates that
proceeds of this debt offering, even if upsized, will be devoted
ultimately to debt repayment. The proposed offering has no impact
on Toll's Ba1 Corporate Family Rating, Ba1-PD Probability of
Default Rating, SGL-2 Speculative Grade Liquidity Rating, and its
stable rating outlook. The Ba1 ratings assigned to Toll Brothers
Finance Corp.'s notes are also unchanged.

Assignments:

Issuer: Toll Brothers Finance Corp.

-- Backed Senior Unsecured Regular Bond/Debenture, Assigned
    Ba1 (LGD4)

RATINGS RATIONALE

At its fiscal 2017 first-quarter end January 31, 2017, the company
had $250 million outstanding on its $1.295 billion senior unsecured
revolver that matures on May 19, 2021. It also had $400 million of
8.91% senior unsecured notes that mature on October 15, 2017.
Toll's mid-40's% Moody's-adjusted debt leverage is likely to remain
little changed.

Toll is the nation's leading builder of luxury homes. The company
began business in 1967 and became a public company in 1986. It
serves move-up, empty-nester, active-adult, and second-home buyers
and operates in 20 states. The company builds an array of luxury
residential single-family detached, attached home, master planned
resort-style golf, and urban low-, mid-, and high-rise communities,
principally on land it develops and improves. Toll also operates
its own architectural, engineering, mortgage, title, land
development and land sale, golf course development and management,
home security, and landscape subsidiaries. The company also
operates its own lumber distribution, house component assembly, and
manufacturing operations. Through its Gibraltar Capital and Asset
Management joint venture, Toll provides builders and developers
with land banking and joint venture capital. The company acquires
and develops commercial and apartment properties through Toll
Brothers Apartment Living, Toll Brothers Campus Living, and the
affiliated Toll Brothers Realty Trust, and develops urban low-,
mid-, and high-rise for-sale condominiums through Toll Brothers
City Living. Revenues for fiscal 2016, ended October 31, 2016, were
$5.2 billion and net income was $382 million.

The principal methodology used in this rating was Homebuilding And
Property Development Industry published in April 2015.



TOWERSTREAM CORP: Has New Plan to Address Rising Bandwidth Demands
------------------------------------------------------------------
Towerstream Corporation issued a letter to its shareholders
on Feb. 28, 2017.

To Our Shareholders:

I want to take this opportunity to introduce myself as the new
Chief Executive Officer of Towerstream and to provide you with a
brief summary of our strategic vision for the next three years.

First, I am excited to be at the helm of Towerstream.  I see a
market opportunity that continues to evolve and grow exponentially
with each passing day.  As technology continues to advance, our
environment is rapidly evolving into a wireless world.  Enterprises
and individuals expect and demand instantaneous access to and
delivery of information on wireless devices regardless of their
location ... and that will only continue to grow ... and grow
rapidly.  This increasing reliance on wireless technology presents
Towerstream with an unlimited market opportunity.

I bring to Towerstream thirty years of relevant experience in the
telecommunications industry developing markets and growing
revenues.  Throughout my career, I have held numerous C-level roles
with various responsibilities in several major companies.  My
experiences have provided me with a unique understanding of the
telecommunications industry and an appreciation of its trends.  My
knowledge, skills, and perspectives will help enable us to realize
the potential that initially attracted all of you to become
Towerstream shareholders.

Before joining Towerstream last month, I put a great deal of
thought into what direction to take the Company and how best to
move it into the future.  Candidly, the strategy will be quite
simple.  We will focus on fundamental business concepts and our
vision to be the trusted, reliable, and cost-efficient service
provider of choice.  We will continue to leverage our
state-of-the-art fixed wireless network to serve both enterprises
and service providers.  We will achieve these objectives by
re-launching our marketplace strategy, enhancing our sales and
marketing tools, introducing our new value statements, and
stabilizing the health of the Company while simultaneously
investing in key areas that will drive growth.

Our Strategy

I will refer to this new strategy as Towerstream 2.0.  It will
focus on the fundamentals needed to address the increasing
bandwidth demands of the enterprise and service provider markets.
The three main pillars of our strategy will be price, speed to
market, and reliability.
  
  * Increased Demand - By 2020 the demand for high bandwidth
broadband over 100Mbps is projected to increase by double digits.
As a result of this, building scale and digitizing networks are key
for enterprises to keep pace.  Our connections are scalable from
1.5Mbps to 10Gbps and provide businesses with flexibility in both
speed and price.  Towerstream's value to the enterprise market lies
in allowing companies the ability to scale their bandwidth speeds
based on future needs at a very economical cost.

  * Value - Our value to the marketplace will be fully leveraged in
our Towerstream 2.0 strategy.  Within the footprints of our markets
which have already been established within twelve of the Nation's
largest cities, we can guarantee delivery of quality service to
hundreds of thousands of buildings.  We can guarantee service
timeframes for each potential customer in those buildings through
utilizing software tools to identify the buildings that house
customers that have the highest propensity to buy our services and
by leveraging a line-of-sight tool that provides 98% accuracy.
Those tools have already been implemented and the early results are
very positive.

   * Rationalized Product Portfolio - Enterprise demands are
routinely moving towards and exceeding 100Mbps speeds.  To ensure
we are prepared for increasing demand in the marketplace, our
service offerings will be condensed and priced accordingly.  We
will be offering three speeds with customized quotes for larger
bandwidth needs between 100Mbps and 1Gbps.

   * Sales & Marketing - The sales organization has been recently
restructured to create a more disciplined approach to identify and
target prospective customers.  Included in this strategy is a new
methodology, which includes professional sales and development
training, which will assist our sales professionals with achieving
both volume and velocity.

   * Leveraging Our Network - The adoption of wireless technology
continues to grow as its reliability consistently equals, and
sometimes exceeds, fiber-based networks.  This was evidenced
recently during the February 2017 winter storms that hit the
Northeast. While blizzard conditions pummeled the region, the
Towerstream network was totally unaffected by the severe snow and
high winds.  There was no interruption of service or degradation of
data transmissions.  The opportunity that Towerstream must exploit
going forward is to target buildings with planned fiber deployment.
Fiber-based construction projects can be expensive and require
anywhere from thirty days to twelve months to complete.  In
contrast, at Towerstream eighty percent of our installations are
completed within fourteen calendar days!

Financial Stability

Over the past twelve months, the Company has done a tremendous job
of refocusing its activities and returning to the fundamental
business concepts that I discussed earlier.  This initiative
included exiting an unprofitable line of business, elimination of a
variety of expenses, and reductions in personnel.  Such changes
were difficult to implement, but were necessary to transform the
Company into a viable entity positioned to take advantage of the
business opportunities which I have described throughout this
letter.

We now have a healthy balance sheet and a cost structure which can
support the initiatives which I have discussed on the preceding
pages.

Metrics

As part of Towerstream 2.0 we will be keenly focused on our Key
Performance Indicators: Sales (productivity), Revenue, Installs,
Churn, EBITDA and Cash Flow.

The new model that will drive Towerstream 2.0 is a simple
plug-and-play model.  Sales productivity will be the main driver of
our results and the performance of our sales organization will
directly drive our ability to add additional sales personnel over
the next three years.

Summary

We have developed a three-year plan that has an achievable
trajectory of revenue growth which results in both positive EBITDA
and positive cash flow.  As with all multi-year plans, the first
year is when we implement, execute, and invest... And in years two
and three we experience the results of our work and commitment. I
will share more of the details of this plan throughout the year
ahead to ensure that you, our shareholders, are kept abreast of our
progress.
       
I firmly believe we have the right strategy that will catapult
Towerstream into a very prosperous future.  Having said that, the
key to our success has been and will continue to be our employees.
This is a group of individuals that has experienced uncertainty and
seen their fair share of change.  However, throughout all of that,
their belief in the Company has never wavered.  Our culture will
change as the Company shifts its strategy.  What will emerge is a
culture that is success driven and builds upon optimism.  The
culture will be supported by a communicative leadership team, will
focus on employee recognition, and will promote teamwork.

As previously indicated, the last twelve months was spent
rightsizing the cost structure of the Company.  We will now spend
the next twelve months implementing our new strategy and ensuring
that we execute flawlessly to bring this Company into prosperity.
We will communicate through press releases and I will reach out to
you directly from time-to-time in a letter such as this to report
on our progress.  However, for now, it is time for all of us here
at Towerstream to put our collective heads down and execute.

On behalf of our Board of Directors and the entire group of
dedicated Towerstream employees, we thank you for your continued
support.  As I indicated earlier, I am excited to be here for
Towerstream 2.0.  I hope and trust that you share my enthausiam.
       
Sincerely,

Ernest Ortega

Chief Executive Officer

                  About Towerstream Corporation

Towerstream Corporation (NASDAQ:TWER) offers broadband services in
12 urban markets including New York City, Boston, Los Angeles,
Chicago, Philadelphia, the San Francisco Bay area, Miami, Seattle,
Dallas-Fort Worth, Houston, Las Vegas-Reno, and the greater
Providence area.

The Company reported a net loss of $40.5 million in 2015, a net
loss of $27.6 million in 2014 and a net loss of $24.8 million in
2013.  As of Sept. 30, 2016, Towerstream had $36.76 million in
total assets, $43.18 million in total liabilities and a total
stockholders' deficit of $6.42 million.


TRAPPERS RENDEZVOUS: Case Summary & Top Unsecured Creditors
-----------------------------------------------------------
Debtor: Trappers Rendezvous, LLC
        2824 Janitell Road
        Colorado Springs, CO 80906

Case No.: 17-11737

Debtor-affiliate filing separate Chapter 11 petition:

    Debtor                                      Case No.
    ------                                      --------
Trappers Rendezvous Property, LLC               17-11741

Chapter 11 Petition Date: March 7, 2017

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge: Hon. Elizabeth E. Brown

Debtors' Counsel: David Warner, Esq.
                  SENDER WASSERMAN WADSWORTH, P.C.
                  1660 Lincoln St., Ste. 2200
                  Denver, CO 80264
                  Tel: 303-296-1999
                  Fax: 303-296-7600
                  E-mail: david.warner@sendwass.com

Trappers Rendezvous, LLC's
Estimated Assets: $500,000 to $1 million

Trappers Rendezvous, LLC's
Estimated Liabilities: $1 million to $10 million

Trappers Rendezvous Property, LLC's
Estimated Assets: $1 million to $10 million

Trappers Rendezvous Property, LLC's
Estimated Liabilities: $1 million to $10 million

The petitions were signed by Mark D. Herman, CEO of managing
member.

A copy of Trappers Rendezvous, LLC's list of nine unsecured
creditors is available for free at
http://bankrupt.com/misc/cob17-11737.pdf

A copy of Trappers Rendezvous Property, LLC's list of two unsecured
creditors is available for free at
http://bankrupt.com/misc/cob17-11741.pdf


TRIANGLE USA: Caliber Measurement, Et Al. Try to Block Plan Okay
----------------------------------------------------------------
Caliber Measurement Services LLC, Caliber Midstream Fresh Water
Partners LLC, and Caliber North Dakota LLC filed with the U.S.
Bankruptcy Court for the District of Delaware on March 2 an
objection to the second amended joint Chapter 11 plan of
reorganization of Triangle USA Petroleum Corporation and its
Affiliated Debtors, dated Jan. 12, 2017.

The Caliber Parties claim that from the outset of these chapter 11
cases, rather than working to reach a consensual restructuring of
the Specified Caliber Contracts, the Debtors chose not to negotiate
reasonably with Caliber and instead attempted to dismiss the
Caliber Parties' prepetition litigation pending in North Dakota.
The Debtors' high stakes strategy was based on the erroneous belief
that they could threaten rejection of these contracts in bankruptcy
to create negotiating leverage over the Caliber Parties.

Consistent with their actions towards the Caliber Parties during
these cases, the Debtors now seek confirmation of an Amended Plan
that would eviscerate statutory protections afforded to the Caliber
Parties under Sections 1123(b)(2) and 365 of the Bankruptcy Code by
allowing the Debtors to have an unlimited post-confirmation
extension of the time to assume or reject the specified Caliber
contracts through a manufactured toggle provision in Section 6.03
of the Amended Plan.  The Caliber Parties state that the Toggle
Provision, which violates applicable bankruptcy law, conveniently
allows the Debtors to (i) emerge from bankruptcy now and (ii) delay
for potentially years the decision to assume or reject the
specified Caliber contracts, thus forcing the Caliber Parties to
bear, among other things, the uncertainty of not knowing whether
customers and potential financiers will continue to do business in
the ordinary course with a company whose primary source of revenue
could be rejected at an unknown date.  This is part of the Debtors'
continuing strategy to add leverage over Caliber Parties in
contract negotiations and directly contravenes the certainty
afforded to contract counterparties under the Bankruptcy Code.

According to the Caliber Parties, the Legislative history
concerning Section 365 makes it clear that it was designed "to
prevent parties in contractual or lease relationships with the
debtor from being left in doubt concerning their status vis-a-vis
the estate."  The fact that the Bankruptcy Code offers no guidance
on how to address the plethora of potential unintended consequences
of the Toggle Provision underscores that it is not permissible as a
matter of law.

The Toggle Provision also contravenes sound bankruptcy policy.  If
permitted, rather than addressing executory contracts prior to
confirmation, the door would be open for debtors to request a
deemed assumption or rejection of such contracts in a plan of
reorganization, receive a free option to wait out market conditions
post-effective date, and determine then, with full information,
whether rejection or assumption inures to their benefit.

The Caliber Parties are also unaware of any Chapter 11 case or
bankruptcy law authorizing a debtor to estimate rejection damages
before a contract is actually rejected.

In addition to the infirmities with the Toggle Provision, the
Amended Plan also unfairly discriminates against the Caliber
Parties by requiring it to deposit cash based on a $75 million
"Caliber Rejection Damages Cap" (an amount arbitrarily invented by
the Debtors with no relation to the Caliber Parties' potential
rejection damages claims) now if it wishes to participate in the
Rights Offering at some point in the future.  The Caliber Parties
will not know if it is entitled to participate in the Rights
Offering until a final court order on the Caliber North Dakota
litigation and satisfaction of additional contingencies in the
Toggle Provision, but will be forced to part with a substantial
amount of cash for an unknown period of time.  This is an economic
result that is only intended to cause hardship on the Caliber
Parties.  The Amended Plan also discriminates against Caliber
Parties by not permitting the cash that it purportedly requires the
Caliber Parties to deposit to earn any interest.  Finally, the
Amended Plan contains impermissible releases and exculpation
provisions that do not comport with established case law in this
District.  The Amended Plan is unconfirmable for each of these
reasons.

A copy of the Objection is available at:

           http://bankrupt.com/misc/deb16-11566-776.pdf

NGP Natural Resources X, L.P., and NGP Triangle Holdings, LLC,
filed a joinder to Caliber's objection on March 6.  The NGP Parties
say that given the proposed treatment of TPC's claims and equity
interests under the Plan, the NGP Parties submit that TPC's most
valuable remaining asset consists of its indirect minority interest
in Caliber.  Nevertheless, on March 3, 2017, the NGP Parties were
informed that the special committee has reached an agreement with
the Debtors with regards to the tax injunction and the release
provisions, which inexplicably waives TPC's ability to support
Caliber with regards to the proposed treatment of the specified
Caliber contracts.  The special committee's willingness to sit on
its hands is puzzling, at best, given the economic interests of TPC
that are at stake on the Caliber-related issues.  It is for this
reason that the NGP Parties feel compelled to file this joinder in
support of the Caliber objection to make certain that TPC has an
independent voice protecting its interests in the Chapter 11 cases.
The NGP Parties believe that the proposed treatment of the
specified Caliber contracts is the threshold issue for the Court in
determining whether the Plan should be confirmed.  The NGP Parties
submit that the proposed treatment of the specified Caliber
contracts under the Plan violates the Bankruptcy Code and that
confirmation of the Plan should therefore be denied on that basis.

A copy of the Joinder is available at:

         http://bankrupt.com/misc/deb16-11566-786.pdf

As reported by the Troubled Company Reporter on Jan. 20, 2017, the
Debtors filed with the Court their second amended disclosure
statement with respect to their second amended joint Chapter 11
plan of reorganization, wherein Class 4, Ranger Fabrication, LLC
General Unsecured Claims, is impaired under the Plan.  The
estimated recovery of the Class 4 Holders is 33%.  Distributions
under the Plan, and the Reorganized Debtors' future operations,
will be funded in part by (a) a new senior secured, reserve-based
Exit Facility, with an anticipated initial borrowing base of $250
million and (b) a new-money Rights Offering, through which Eligible
Holders of TUSA General Unsecured Claims may subscribe for the
purchase of up to approximately $180 Million of Rights Offering
Securities. Certain members of the Ad Hoc Noteholder Group have
agreed to backstop $150 million of the Rights Offering.

The Caliber Group is represented by:

     Robert J. Dehney, Esq.
     Curtis S. Miller, Esq.
     Daniel B. Butz, Esq.
     MORRIS, NICHOLS, ARSHT & TUNNELL LLP
     1201 North Market Street, 16th Floor
     Wilmington, DE 19899
     Tel: (302) 658-9200
     Fax: (302) 425-4673
     E-mail: rdehney@mnat.com
             cmiller@mnat.com
             dbutz@mnat.com

          -- and --

     Alfredo R. Perez, Esq.
     Christopher M. Lopez, Esq.
     WEIL, GOTSHAL & MANGES LLP
     700 Louisiana Street, Suite 1700
     Houston, TX 77002
     Tel: (713) 546-5000
     Fax: (713) 224-9511
     E-mail: alfredo.perez@weil.com
             chris.lopez@weil.com

The NGP Parties are represented by:

     Mark D. Collins, Esq.
     Daniel J. DeFranceschi, Esq.
     Michael J. Merchant, Esq.
     RICHARDS, LAYTON & FINGER, P.A.
     One Rodney Square
     920 North King Street
     Wilmington, DE 19801
     Tel: (302) 651-7700
     Fax: (302) 651-7701
     E-mail: collins@RLF.com
             merchant@RLF.com

              About Triangle USA Petroleum Corporation

Triangle USA Petroleum Corporation is an independent exploration
and production company with a strategic focus on developing the
Bakken Shale and Three Forks formations in the Williston Basin of
North Dakota and Montana.  TUSA is a wholly owned subsidiary of
Triangle Petroleum Corporation (NYSE MKT: TPLM).  Neither TPLM nor
its affiliated company, RockPile Energy Services, LLC, is included
in TUSA's Chapter 11 filing.

Triangle USA Petroleum Corporation and its affiliates filed
voluntary petitions under Chapter 11 of the Bankruptcy Code
(Bankr. D. Del. Lead Case No. 16-11566) on June 29, 2016.  The
cases are pending before Judge Mary F. Walrath.

At the time of the filing, TUSA estimated assets in the range of
$500 million to $1 billion and liabilities of up to $1 billion.

The Debtors have engaged Sarah E. Pierce, Esq., at Skadden, Arps,
Slate, Meagher & Flom LLP as counsel, AP Services, LLC, as
financial advisor, PJT Partners Inc. as investment banker and
Prime Clerk LLC as claims & noticing agent.

Andrew R. Vara, Acting U.S. Trustee, has informed the U.S.
Bankruptcy Court for the District of Delaware that a committee of
unsecured creditors has not been appointed in the Chapter 11 case
of Triangle USA Petroleum Corporation due to insufficient response
to the U.S. Trustee communication/contact for service on the
committee.


TUSCANY ENERGY: Wants Solicitation Period Extended Thru April 14
----------------------------------------------------------------
Tuscany Energy LLC asks the Bankruptcy Court to further extend
their exclusive period to solicit acceptances for their Chapter 11
plan through April 14, 2017.

The Debtor filed a Plan of Reorganization and Disclosure Statement
on April 25, 2016.

Among other things, the Debtor seeks the extension to engage in
negotiations with its largest secured creditor, Armstrong Bank.
The Court has referred various matters relating to the Debtor and
Armstrong Bank to judicial settlement conference before Judge
Cornish. The parties attended judicial settlement conference in
June, August, September  and October 2016.  The conference were
continued through January 26 and February 24, 2017. Most recently,
the Debtor and Armstrong Bank have agreed to place the judicial
settlement conference on hold, and attempt to resolve the matter
directly between the parties.

Accordingly, the Debtor seeks additional time to attempt to resolve
issues with Armstrong Bank prior to pursuing approval of the
Disclosure Statement, and soliciting votes in favor of the Plan.

                About Tuscany Energy, LLC

Tuscany Energy, LLC, filed for Chapter 11 bankruptcy protection
(Bankr. S.D. Fla. Case No. 16-10398) on Jan. 11, 2016.  The
petition was signed by Donald Sider, manager.  The case is assigned
to Judge Erik P. Kimball.  At the time of the filing, the Debtor
estimated assets at $100,000 to $500,000 and liabilities at $1
million to $10 million.   The Debtor is represented by Bradley S.
Shraiberg, Esq., and Bernice Lee, Esq., at Shraiberg, Ferrara, &
Landau P.A.  

No official committee of unsecured creditors has been appointed in
the Chapter 11 case of Tuscany Energy.


ULURU INC: Centric Capital Reports 0.9% Stake as of Feb. 27
-----------------------------------------------------------
Centric Capital Ventures LLC and Bradley J. Sacks disclosed in an
amended Schedule 13D filed with the Securities and Exchange
Commission that as of Feb. 27, 2017, they beneficially own 552,960
shares of common stock of ULURU Inc. representing 0.9 percent based
upon 62,974,431 shares of Common Stock outstanding as of Feb. 27,
2017.  A full-text copy of the regulatory filing is available for
free at https://is.gd/n2Yp2a

                         About ULURU Inc.

ULURU Inc. is a specialty pharmaceutical company focused on the
development of a portfolio of wound management and oral care
products to provide patients and consumers improved clinical
outcomes through controlled delivery utilizing its innovative
Nanoflex Aggregate technology and OraDisc transmucosal delivery
system.  For further information about ULURU Inc., please visit its
website at www.uluruinc.com.  For further information about
Altrazeal, please visit our website at www.altrazeal.com.

ULURU reported a net loss of $2.69 million for the year ended
Dec. 31, 2015, following a net loss of $1.93 million for the year
ended Dec. 31, 2014.

As of Sept. 30, 2016, ULURU had $6.71 million in total assets,
$2.51 million in total liabilities and $4.19 million in total
stockholders' equity.

Lane Gorman Trubitt, PLLC, in Dallas, TX, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has suffered recurring
losses from operations, negative cash flows from operating
activities and is dependent upon raising additional funds from
strategic transactions, sales of equity, and/or issuance of debt.
The Company's ability to consummate such transactions is uncertain.
As a result, there is substantial doubt about the Company's
ability to continue as a going concern, the auditors noted.


ULURU INC: Michael Sacks Reports 39% Equity Stake as of Feb. 27
---------------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Michael I. Sacks disclosed that as of Feb. 27, 2017, he
beneficially owns 30,050,490 shares of common stock of Uluru Inc.
Mr. Sacks beneficially owns 30,050,490 shares of Common Stock,
which includes warrants to purchase 14,025,245 shares of Common
Stock, representing 39.0% of the outstanding shares of Common
Stock.

Centric Capital directly beneficially owns 552,960 shares of Common
Stock, which includes warrants to purchase 266,480 shares of Common
Stock, and by virtue of his control of Centric Capital as its
Managing Member, B Sacks is deemed to beneficially own such 552,960
shares of Common Stock, representing 0.9% of the outstanding shares
of Common Stock.

Mr. Sacks disclaims any beneficial ownership or pecuniary interest
in the shares of Common Stock beneficially owned by B Sacks or
Centric Capital.

M Sacks, B Sacks and Centric Capital may be deemed to be a "group"
within the meaning of Rule 13d-5(b) under the Exchange Act.

A full-text copy of the regulatory filing is available at:

                    https://is.gd/Ovj4RB

                       About ULURU Inc.

ULURU Inc. is a specialty pharmaceutical company focused on the
development of a portfolio of wound management and oral care
products to provide patients and consumers improved clinical
outcomes through controlled delivery utilizing its innovative
Nanoflex Aggregate technology and OraDisc transmucosal delivery
system.  For further information about ULURU Inc., please visit its
website at www.uluruinc.com.  For further information about
Altrazeal, please visit our website at www.altrazeal.com.

ULURU reported a net loss of $2.69 million for the year ended
Dec. 31, 2015, following a net loss of $1.93 million for the year
ended Dec. 31, 2014.

As of Sept. 30, 2016, ULURU had $6.71 million in total assets,
$2.51 million in total liabilities and $4.19 million in total
stockholders' equity.

Lane Gorman Trubitt, PLLC, in Dallas, TX, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has suffered recurring
losses from operations, negative cash flows from operating
activities and is dependent upon raising additional funds from
strategic transactions, sales of equity, and/or issuance of debt.
The Company's ability to consummate such transactions is uncertain.
As a result, there is substantial doubt about the Company's
ability to continue as a going concern, the auditors noted.


VIGNAHARA LLC: First Western Tries to Block Plan Confirmation
-------------------------------------------------------------
Secured creditor First Western SBLC, Inc., filed with the U.S.
Bankruptcy Court for the Northern District of Texas an objection to
Vignahara, LLC's second amended plan of reorganization.

As reported by the Troubled Company Reporter on Jan. 19, 2017, the
Court entered on Jan. 11, 2017, an agreed order approving the
Debtor's fourth amended disclosure statement referring to the
Debtor's plan of reorganization.  The only objection to the
Disclosure Statement was filed by First Western.

First Western says in its Objection to the Plan that in one
section, the Plan proposes to limit First Western's secured claim
to a maximum amount of $2,473,064.29.  In another section, the Plan
states as follows concerning First Western's Secured Claim: The
amount of the First Western Secured Claim will be $2,473,064.29, as
of Aug. 12, 2016, and will continue to accrue interest at the rate
specified in the
Loan Documents.  Any additional fees and costs incurred during this
case must be approved by the Court with notice to the Debtor such
not to include the default rate of interest or penalties.

The amount of First Western's secured claim was $2,473,064.29 as of
Aug. 12, 2016.  However, that amount has increased since that date
due to continued accrual of interest and additional reasonable
fees, costs, and charges provided for under the Loan Documents and
Texas law, even after applying all adequate protection payments
received during the pendency of this bankruptcy case.  First
Western is entitled to have those additional amounts added to its
secured claim under Section 506(b) of the Bankruptcy Code, up to
the amount that would make its total secured claim amount equal to
the value of its collateral.  The Plan does not satisfy Section
1129(a)(1) of the Bankruptcy Code because the limitation contained
in section 1.46 of the Plan limiting First Western's secured claim
to $2,473,064.29 violates Section 506(b) of the Bankruptcy Code.

The Plan includes a blanket post-confirmation injunction that would
prohibit First Western from enforcing the personal guaranties given
by Binal Patel, Jagdishbhai Patel, Pooja Patel, and Gunvantiben
Patel to the extent that any of those individuals are employed by
the Debtor.  According to the Debtor's Fourth Amended Disclosure
Statement, (a) Pooja Patel and Gunvantiben Patel are employees of
the Debtor with no managerial roles, are not members of the Debtor,
and will not be employed by the Debtor after confirmation; (b)
Jagdishbhai Patel is the majority owner of the Debtor but provides
only "managerial assistance"; and (c) Binal Patel is the minority
owner of the Debtor and is responsible for the day to day
management of the hotel.

The Debtor proposes to complete the renovations to the hotel
required by the Red Roof Inn franchise agreement over a period of
eighteen months after confirmation.  However, the Red Roof Inn
franchise agreement requires all of the renovations to be completed
by Nov. 6, 2017, just eight months after the confirmation hearing,
First Western says.  A Chapter 11 plan that is premised upon
violating applicable state law after confirmation cannot meet the
confirmation requirement of Section 1129(a)(3) of the Bankruptcy
Code.

The Debtor proposes to implement the Plan in part by having its two
most senior employees work for free: Jagdishbhai Patel will render
management assistance for no compensation; and Binal Patel will be
responsible for the day to day management of the hotel but will not
receive a salary until cash flow permits.  The Fair Labor Standards
Act and the Texas Labor Code both require that all employees must
be paid at least the minimum wage.  An employer cannot evade that
requirement even if an employee voluntarily agrees to work for
free.  Both statutes require an employer to pay for all work that
is "suffered" or "permitted."

A copy of the Objection is available at:

           http://bankrupt.com/misc/txnb16-32261-106.pdf

First Western is represented by:

     Kenneth A. Hill, Esq.
     QUILLING, SELANDER, LOWNDS, WINSLETT & MOSER, P.C.
     2001 Bryan Street, Suite 1800
     Dallas, Texas 75201
     Tel: (214) 871-2100
     Fax: (214) 871-2111
     E-mail: kenhill@qslwm.com

                       About Vignahara LLC

Vignahara, LLC, is a Texas limited liability company formed on Aug.
12, 2013.  It is a family run business.  Jagdishbhai Patel and
Binal Patel are the sole mangers and members of the Debtor.  The
Debtor's sole asset is a 112-room hotel located at 11999 East
Freeway in Houston, Texas, which until recently was operated as a
Red Roof Inn franchise.  It has operated under the name of Red Roof
Inn East Houston.

The Debtor filed a Chapter 11 petition (Bankr. N.D. Tex. Case No.
16-32261) on June 6, 2016.  The petition was signed by Binal Patel,
member.  The Debtor is represented by Russell W. Mills, Esq., at
Hiersche, Hayward, Drakeley & Urbach, P.C.  The case is assigned to
Judge Barbara J. Houser.  The Debtor estimated assets and
liabilities at $1 million to $10 million at the time of the filing.


VINCHEM USA: Case Summary & 3 Unsecured Creditors
-------------------------------------------------
Debtor: Vinchem USA Corporation
        PO Box 10573
        Tampa, FL 33679

Case No.: 17-01802

Chapter 11 Petition Date: March 7, 2017

Court: United States Bankruptcy Court
       Middle District of Florida (Tampa)

Debtor's Counsel: Buddy D Ford, Esq.
                  BUDDY D. FORD, P.A.
                  9301 West Hillsborough Avenue
                  Tampa, FL 33615-3008
                  Tel: 813-877-4669
                  Fax: 813-877-5543
                  E-mail: Buddy@TampaEsq.com

                    - and -

                  Jonathan A Semach, Esq.
                  BUDDY D. FORD, P.A.
                  9301 West Hillsborough Avenue
                  Tampa, FL 33615-3008
                  Tel: 813-877-4669
                  Fax: 813-877-5543
                  E-mail: jonathan@tampaesq.com

Total Assets: $1.60 million

Total Liabilities: $1.68 million

The petition was signed by Larry Nguyen, vice president.

A copy of the Debtor's list of three unsecured creditors is
available for free at http://bankrupt.com/misc/flmb17-01802.pdf


VULCAN MATERIALS: Moody's Ups Sr. Unsecured Debt Ratings From Ba1
-----------------------------------------------------------------
Moody's Investors Service upgraded the senior unsecured debt
ratings of Vulcan Materials Company to Baa3 from Ba1. The rating
outlook is stable.

The upgrade reflects continued improvement in Vulcan's financial
ratios resulting from debt reduction and improved operating
performance. The company's adjusted debt-to-EBITDA declined to 2.5x
for the year-end 2016 from 2.8x at year-end 2015 and 3.7x at
year-end 2014. Adjusted operating margins have also improved over
the same periods, increasing to 19.5% from 17.3% and 11.4%,
respectively. Moreover, the rating upgrade reflects Moody's belief
that Vulcan has the willingness and ability to defend its
investment grade rating in a downturn.

The following ratings were upgraded:

Vulcan Materials Company:

Senior unsecured bank credit facility, upgraded to Baa3 from Ba1
(LGD4)

Senior unsecured notes, upgraded to Baa3 from Ba1 (LGD4)

Senior unsecured shelf, upgraded to (P) Baa3 from (P) Ba1

The rating outlook is stable.

Legacy Vulcan Corp.:

Backed Senior unsecured notes, upgraded to Baa3 from Ba1 (LGD4)

The rating outlook is stable.

Note: the CFR, PDR, and SGL were withdrawn because they are ratings
assigned to non-investment grade companies.

RATINGS RATIONALE

The Baa3 senior unsecured rating is supported by the company's
leading position in the North American aggregates industry, its
regional geographic diversity, and large proven reserves. Longer
term, the business benefits from high barriers to entry, a stable
competitive landscape, and diverse end use markets including
public, private residential and private non-residential
construction. The rating also benefits from a conservative balance
sheet, solid operating margin, and the ability to generate strong
free cash flow.

The rating incorporates margin and cash flow volatility, as well as
fluctuation in leverage expected through economic and construction
cycles. Moody's projects further improvements in operating margin
and interest coverage as construction activity and operating
performance improve over the intermediate-term. The rating also
considers the company's lack of multinational diversity. Vulcan
effectively derives all of its income from operations in North
America and is smaller in scale than multi-national building
materials companies.

Vulcan's strong liquidity position is supported by its $750 million
senior unsecured revolving credit facility due 2021, $250 million
delayed draw term loan (which expires in June 2017 if undrawn) and
$259 million cash balance at December 31, 2016. As of December 31,
2016, Vulcan's available borrowing capacity under the revolver was
$476 million net of $235 million in borrowings and $39 million used
to support standby letters of credit. The revolving credit facility
does not require the company to represent and warrant a material
adverse condition on the borrowing dates. Financial covenants in
the credit agreement include: (1) a maximum ratio of debt-to-EBITDA
of 3.5x (the ratio can be 3.75x for three quarters following an
acquisition); and (2) a minimum ratio of EBITDA to net cash
interest expense of 3.0x. As of December 31, 2016, Vulcan was in
compliance with these covenants with healthy cushions. Moody's
expects the company to comply and maintain a healthy cushion under
these covenants over the next 12-18 months.

The company has approximately $525 million of senior notes maturing
in 2018. The company has adequate liquidity to repay this debt
through 2017 expected free cash flow, cash on hand and revolver
availability. Vulcan has no other debt maturities until 2021 when
its credit facility is due and $606 million of senior notes are
due. The company's free cash flow generation is expected to
strengthen over the intermediate-term. Vulcan generated almost $200
million of adjusted free cash flow in 2016. In 2017, Moody's
expects adjusted free cash flow to remain positive and that the
company will use cash to invest in bolt-on acquisitions, pay
dividends, and/or repurchase shares.

The stable outlook reflects Vulcan's improving financial ratios and
Moody's expectations that construction end markets will continue to
improve through 2017, leading to further improvement in
profitability metrics. The rating outlook also assumes the company
will maintain strong liquidity.

Vulcan's ratings could be upgraded should the company's adjusted
operating margin increase over 18%. The ratings could also be
upgraded if adjusted debt-to-EBITDA was sustained below 2.5x at all
points through the construction cycle, adjusted debt to book
capitalization was below 30%, adjusted EBIT-to-interest expense
increased above 6.0x, and adjusted retained cash flow as a
percentage of net debt was closer to 35%. Strong liquidity would
also support a ratings upgrade.

The ratings would likely be downgraded in the event that Vulcan's
adjusted operating margins deteriorate below 12%, adjusted debt
leverage increases above 3.0x and adjusted EBIT-to-interest expense
coverage is below 4.0x over an extended period of time. Additional
rating pressures could emerge if construction fundamentals were to
deteriorate materially, or Vulcan's liquidity were to deteriorate.

The principal methodology used in these ratings was Building
Materials Industry published in January 2017.

Vulcan Materials Company [NYSE: VMC] is one of the largest
producers of construction aggregates in the U.S., and is also a
major producer of asphalt mix and ready-mixed concrete. Its primary
end markets include public roads, public infrastructure, private
non-residential, and private residential construction. Its
aggregates reserves stand at about 15.5 billion tons. For the year
ended December 31, 2016, Vulcan generated approximately $3.6
billion in revenue.



ZIONS BANCORP: Fitch to Withdraw Ratings for Commercial Reasons
---------------------------------------------------------------
Fitch Ratings plans to withdraw the ratings of Zions Bancorporation
and its subsidiaries on or about April 6, 2017 for commercial
reasons.

Fitch currently rates the entities:

Zions Bancorporation
-- Issuer Default Rating (IDR) 'BBB-'; Outlook Positive;
-- Short-term IDR 'F3';
-- Viability Rating 'bbb-';
-- Senior unsecured debt 'BBB-';
-- Subordinated debt 'BB+';
-- Short-term debt 'F3';
-- Preferred stock 'B';
-- Support Rating '5';
-- Support Floor 'NF'.

Z.B., NA
-- Long-term IDR 'BBB-'; Outlook Positive;
-- Short-term IDR 'F3';
-- Viability Rating 'bbb-';
-- Long-term deposits 'BBB';
-- Short-term deposit 'F2';
-- Support Rating '5';
-- Support Floor 'NF'.

Zions Institutional Capital Trust A
-- Preferred Stock 'B+'.

Fitch reserves the right in its sole discretion to withdraw or
maintain any rating at any time for any reason it deems sufficient.
Fitch believes that investors benefit from increased rating
coverage by Fitch and is providing approximately 30 days' notice to
the market of the rating withdrawal of Zions Bancorporation.
Ratings are subject to analytical review and may change up to the
time Fitch withdraws the ratings.

Fitch's last rating action for the above referenced entities was on
Oct. 4, 2016. The ratings were affirmed, and the Outlook was
revised to Positive.



ZUOAN FASHION: U.S. Shareholders Seek to Recover Investor Funds
---------------------------------------------------------------
The Seiden Group on March 6, 2017, disclosed that Zuoan Fashion
Ltd. (Ticker: ZAHLY.PK) is a Cayman Islands corporation that
designs, manufactures and markets casual men's clothing.  The
Company markets its clothing through its own retail stores, and
through other retailers throughout China.  ZAHLY.PK  filed its F-1
form with the Securities & Exchange Commission ("SEC") representing
its initial public offering of  American depositary shares of the
company on January 4, 2011 and was removed from the New York Stock
Exchange via a form 25 filed with the on November 5, 2015.

Certain shareholders have spoken with Robert W. Seiden, Esq. in New
York to represent a group of shareholders to enforce the rights of
the U.S. shareholders for acts detrimental to the investors
including gross mismanagement, failure to comply with SEC orders
and others in order to get a possible return of capital to the
investors.

If you are a current shareholder of ZAHLY.PK and interested in
information to consider joining in the case, please email Nathaniel
Francis at the email: nfrancis@csilegal.com or call 212.626.6709.
You can also register on the website www.confidentialglobal.com
under "Join Receivership Case".


[*] Jones Day NY Adds Richard Nugent as Partner in Tax Practice
---------------------------------------------------------------
Richard Nugent has joined Jones Day's Tax Practice as a partner,
and will be based in the Firm's New York Office. 

A transactional lawyer with deep experience in the tax implications
of public and private mergers, acquisitions, and spin-offs, Mr.
Nugent also counsels debtors, creditors, and potential acquirers of
financially troubled companies both within and outside bankruptcy
proceedings.  

"Richard's successful track record will make him a fine addition to
our already strong practice," said Edward T. Kennedy, who co-leads
Jones Day's Tax Practice.  "He has advised very high-profile
clients on the ramifications of many types of transactions and
counseled them regarding the most appropriate options for deal
structuring.  His experience will benefit Jones Day clients not
just in New York, but throughout the world."  

Mr. Nugent has also advised clients on cross-border tax strategies,
financings, and other capital markets activities, partnership and
other joint venture arrangements, real estate transactions, and tax
controversies. 

"Richard is joining a practice that consistently is called upon by
lawyers throughout Jones Day to advise on the tax implications and
consequences of domestic and multinational transactions," said
Wesley R. Johnson Jr., Partner-in-Charge of Jones Day's New York
Office.  "He brings us experience that will be of great benefit to
clients served by our M&A, Private Equity, and other practices.  We
are very pleased to have him and look forward to his
contributions." 

Mr. Nugent is a member of the Executive Committee of the New York
State Bar Association Tax Section for which he has co-authored
several reports and letters and is a member of the Tax Forum.  He
was recognized in the Domestic Tax category for 2015-2016 by The
Legal 500 and in Super Lawyers (New York-Metro) for 2011-2016, and
was named to the Turnarounds & Workouts annual list of Bankruptcy
Tax Specialists from 2011 to 2016.  

Mr. Nugent is a regular speaker at the Practising Law Institute on
Pass-Through Corporations and Publicly Traded Partnerships, and has
written a number of published articles on U.S. tax policy.

Jones Day -- http://www.jonesday.com-- is an international law
firm based in the United States.  It is the largest law firm in the
U.S. and one of the ten largest law firms in the world.

Mr. Nugent can be reached at:

        Richard M. Nugent
        Partner
        JONES DAY
        New York
        Tel: +1.212.326.3437
        Fax: +1.212.755.7306
        E-mail: rnugent@jonesday.com


[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re David L. Geerts and Julie A. Norman-Geerts
   Bankr. N.D. Ill. Case No. 17-80321
      Chapter 11 Petition filed February 17, 2017
         represented by: Jocelyn L. Koch, Esq.
                         HOLMSTROM & KENNEDY PC
                         E-mail: jkoch@holmstromlaw.com

In re Vijay Sain
   Bankr. C.D. Cal. Case No. 17-10278
      Chapter 11 Petition filed February 20, 2017
         represented by: Kenneth H J Henjum, Esq.
                         E-mail: henjumlaw@sbcglobal.net

In re Ramon Rivera
   Bankr. D. Nev. Case No. 17-10786
      Chapter 11 Petition filed February 22, 2017
         represented by: Randal R. Leonard, Esq.
                         E-mail: rleonard999@yahoo.com

In re Coliseum Tallallahassee, LLC
   Bankr. N.D. Fla. Case No. 17-40071
      Chapter 11 Petition filed February 28, 2017
         See http://bankrupt.com/misc/flnb17-40071.pdf
         represented by: Robert C. Bruner, Esq.
                         E-mail: RobertCBruner@hotmail.com

In re Belfer Investments LLC
   Bankr. S.D. Fla. Case No. 17-12353
      Chapter 11 Petition filed February 28, 2017
         See http://bankrupt.com/misc/flsb17-12353.pdf
         Filed Pro Se

In re Osage Masonry Holdings, LLC
   Bankr. W.D. Mo. Case No. 17-50080
      Chapter 11 Petition filed February 28, 2017
         See http://bankrupt.com/misc/mowb17-50080.pdf
         represented by: Colin N. Gotham, Esq.
                         EVANS & MULLINIX, P.A
                         E-mail: Cgotham@emlawkc.com

In re Helicraft Holdings, LLC
   Bankr. D. Mont. Case No. 17-60120
      Chapter 11 Petition filed February 28, 2017
         See http://bankrupt.com/misc/mtb17-60120.pdf
         represented by: Harold V. Dye, Esq.
                         DYE & MOE, PLLP
                         E-mail: hdye@dyemoelaw.com

In re DSA Holdings , LLC
   Bankr. D.N.J. Case No. 17-13822
      Chapter 11 Petition filed February 28, 2017
         See http://bankrupt.com/misc/njb17-13822.pdf
         represented by: Walter D. Nealy, Esq.
                         E-mail: nealylaw@gmail.com

In re David P. Taylor and Sharon E. Taylor
   Bankr. W.D. Pa. Case No. 17-20732
      Chapter 11 Petition filed February 28, 2017
         represented by: Corey J. Sacca, Esq.
                         BONONI & COMPANY
                         E-mail: csacca@bononilaw.com

In re Luis Angel Ramon Mejias and Damayanti Moreno Rosado
   Bankr. D.P.R. Case No. 17-01404
      Chapter 11 Petition filed February 28, 2017
         represented by: Jacqueline Hernandez Santiago, Esq.
                         E-mail: quiebras1@gmail.com

In re Golden Home Builders Inc.
   Bankr. E.D. Wash. Case No. 17-00553
      Chapter 11 Petition filed February 28, 2017
         See http://bankrupt.com/misc/waeb17-00553.pdf
         represented by: Metiner G. Kimel, Esq.
                         KIMEL LAW OFFICES
                         E-mail: mkimel@mkimellaw.com

In re Richard Alan Herman
   Bankr. C.D. Cal. Case No. 17-12384
      Chapter 11 Petition filed February 28, 2017
         represented by: Thomas B. Ure, Esq.
                         URE LAW FIRM
                         E-mail: tbuesq@aol.com

In re Moses Ugochukwu Anusiem and Chibuzo Blessing Anusiem
   Bankr. C.D. Cal. Case No. 17-12431
      Chapter 11 Petition filed February 28, 2017
         represented by: Anthony Obehi Egbase, Esq.
                         LAW OFFICES OF ANTHONY O EGBASE & ASSOC
                         E-mail: info@aoelaw.com

In re Hard Stone CBO Trust
   Bankr. E.D. Cal. Case No. 17-21266
      Chapter 11 Petition filed February 28, 2017
         See http://bankrupt.com/misc/caeb17-21266.pdf
         Filed Pro Se

In re Caryn Erika Parker
   Bankr. E.D. Cal. Case No. 17-21320
      Chapter 11 Petition filed February 28, 2017
         represented by: Gabriel E. Liberman, Esq.

In re Firestorm Emergency Services, LTD.
   Bankr. D. Nev. Case No. 17-10890
      Chapter 11 Petition filed February 28, 2017
         See http://bankrupt.com/misc/nvb17-10890.pdf
         represented by: Matthew C. Zirzow, Esq.
                         LARSON & ZIRZOW
                         E-mail: mzirzow@lzlawnv.com

In re Amer Works LLC
   Bankr. D. Nev. Case No. 17-10897
      Chapter 11 Petition filed February 28, 2017
         See http://bankrupt.com/misc/nvb17-10897.pdf
         represented by: Brandon L. Phillips, Esq.
                         BRANDON L. PHILLIPS, ESQ. PLLC
                         E-mail: blp@abetterlegalpractice.com

In re RJR Towing, LLC
   Bankr. M.D. Fla. Case No. 17-00701
      Chapter 11 Petition filed March 1, 2017
         See http://bankrupt.com/misc/flmb17-00701.pdf
         represented by: Robert D. Wilcox, Esq.
                         WILCOX LAW FIRM
                         E-mail: rw@wlflaw.com

In re NRMT LLC
   Bankr. M.D. Fla. Case No. 17-00702
      Chapter 11 Petition filed March 1, 2017
         See http://bankrupt.com/misc/flmb17-00702.pdf
         represented by: Robert D. Wilcox, Esq.
                         WILCOX LAW FIRM
                         E-mail: rw@wlflaw.com

In re Wayne Perry, Inc.
   Bankr. M.D. Fla. Case No. 17-01682
      Chapter 11 Petition filed March 1, 2017
         See http://bankrupt.com/misc/flmb17-01682.pdf
         represented by: Benjamin G. Martin, Esq.
                         LAW OFFICES OF BENJAMIN MARTIN
                         E-mail: skipmartin@verizon.net

In re CVC, Inc.
   Bankr. N.D. Ga. Case No. 17-53692
      Chapter 11 Petition filed March 1, 2017
         See http://bankrupt.com/misc/ganb17-53692.pdf
         represented by: Scott B. Riddle, Esq.
                         LAW OFFICE OF SCOTT B. RIDDLE, LLC
                         E-mail: scott@scottriddlelaw.com

In re Roman Hill, LLC
   Bankr. N.D. Ga. Case No. 17-53700
      Chapter 11 Petition filed March 1, 2017
         See http://bankrupt.com/misc/ganb17-53700.pdf
         represented by: Will B. Geer, Esq.
                         LAW OFFICE OF WILL B. GEER, LLC
                         E-mail: willgeer@willgeerlaw.com

In re Bilton, LLC
   Bankr. D.N.J. Case No. 17-14027
      Chapter 11 Petition filed March 1, 2017
         See http://bankrupt.com/misc/njb17-14027.pdf
         represented by: Carrie J. Boyle, Esq.
                         MCDOWELL POSTERNOCK LAW
                         E-mail: cboyle@mpadlaw.com

In re Donald Nix LLC
   Bankr. D.N.J. Case No. 17-14079
      Chapter 11 Petition filed March 1, 2017
         See http://bankrupt.com/misc/njb17-14079.pdf
         represented by: Ellen R. Greenberg, Esq.
                         ELLEN R. GREENBERG
                         E-mail: elleng543@yahoo.com

In re 207 Essex Corp.
   Bankr. E.D.N.Y. Case No. 17-40946
      Chapter 11 Petition filed March 1, 2017
         See http://bankrupt.com/misc/nyeb17-40946.pdf
         Filed Pro Se

In re Big Time Holdings, LLC
   Bankr. E.D.N.Y. Case No. 17-40960
      Chapter 11 Petition filed March 1, 2017
         See http://bankrupt.com/misc/nyeb17-40960.pdf
         represented by: David Y. Wolnerman, Esq.
                         WHITE & WOLNERMAN
                         E-mail: dwolnerman@wwlawgroup.com

In re Michael Carew
   Bankr. S.D.N.Y. Case No. 17-22305
      Chapter 11 Petition filed March 1, 2017
         represented by: John P. Fazzio, III, Esq.
                         FAZZIO LAW OFFICES
                         E-mail: jfazzio@fazziolaw.com

In re Edgardo Lebron Vagu and Luz Nelida Zapata Oquendo
   Bankr. D.P.R. Case No. 17-01437
      Chapter 11 Petition filed March 1, 2017
         represented by: Fausto David Godreau Zayas, Esq.
                         GODREAU & GONZALEZ LAW
                         E-mail: dg@g-glawpr.com

In re Plain Leasing, Inc.
   Bankr. C.D. Cal. Case No. 17-12539
      Chapter 11 Petition filed March 2, 2017
         See http://bankrupt.com/misc/cacb17-12539.pdf
         represented by: Joon M. Khang, Esq.
                         KHANG & KHANG LLP
                         E-mail: joon@khanglaw.com

In re Terma-Praxis, LLC
   Bankr. M.D. Fla. Case No. 17-00710
      Chapter 11 Petition filed March 2, 2017
         See http://bankrupt.com/misc/flmb17-00710.pdf
         represented by: Jason A Burgess, Esq.
                         THE LAW OFFICES OF JASON A. BURGESS, LLC
                         E-mail: jason@jasonaburgess.com

In re Margaret Anna Properties, LLC
   Bankr. N.D. Ind. Case No. 17-20451
      Chapter 11 Petition filed March 2, 2017
         See http://bankrupt.com/misc/innb17-20451.pdf
         represented by: Catherine Molnar-Boncela, Esq.
                         GORDON E. GOUVEIA & ASSOCIATES
                         E-mail: geglaw@gouveia.comcastbiz.net

In re Anjali Enterprise LLC
   Bankr. M.D. La. Case No. 17-10178
      Chapter 11 Petition filed March 2, 2017
         See http://bankrupt.com/misc/lamb17-10178.pdf
         represented by: Pamela G. Magee, Esq.
                         E-mail: pam@attorneypammagee.com

In re Esby Corporation
   Bankr. M.D.N.C. Case No. 17-50228
      Chapter 11 Petition filed March 2, 2017
         See http://bankrupt.com/misc/ncmb17-50228.pdf
         represented by: Brian Hayes, Esq.
                         FERGUSON, HAYES, HAWKINS & DEMAY, PLLC
                         E-mail: bphafd@fspa.net

In re James Tagliareni
   Bankr. D.N.J. Case No. 17-14116
      Chapter 11 Petition filed March 2, 2017
         represented by: Joseph R Zapata, Jr., Esq.
                         MELLINGER, SANDERS & KARTZMAN, LLC
                         E-mail: jzapata@msklaw.net

In re Too Fast Recovery Inc.
   Bankr. D.N.J. Case No. 17-14174
      Chapter 11 Petition filed March 2, 2017
         See http://bankrupt.com/misc/njb17-14174.pdf
         represented by: Harrison Ross Byck, Esq.
                         KASURI BYCK, LLC
                         E-mail: lawfirm@kasuribyck.com

In re Milord Jean-Gilles Fritz Francois LLC
   Bankr. E.D.N.Y. Case No. 17-40983
      Chapter 11 Petition filed March 2, 2017
         See http://bankrupt.com/misc/nyeb17-40983.pdf
         Filed Pro Se

In re Old Fashion Butcher Shop Inc.
   Bankr. E.D.N.Y. Case No. 17-41006
      Chapter 11 Petition filed March 2, 2017
         See http://bankrupt.com/misc/nyeb17-41006.pdf
         represented by: Paul Hollender, Esq.
                         CORASH & HOLLENDER PC
                         E-mail: info@silawfirm.com

In re Tanju Nurel
   Bankr. E.D.N.Y. Case No. 17-71200
      Chapter 11 Petition filed March 2, 2017
         represented by: Michael J. Macco, Esq.
                         MACCO & STERN LLP
                         E-mail: csmith@maccosternlaw.com

In re DeFlora Lake Development Associates, Inc.
   Bankr. S.D.N.Y. Case No. 17-35318
      Chapter 11 Petition filed March 2, 2017
         See http://bankrupt.com/misc/nysb17-35318.pdf
         represented by: Elizabeth A. Haas, Esq.
                         ELIZABETH A. HAAS, ESQ., PLLC
                         E-mail: info@thehaaslawfirm.com

In re East Texas Home Health, Inc.
   Bankr. E.D. Tex. Case No. 17-90059
      Chapter 11 Petition filed March 2, 2017
         See http://bankrupt.com/misc/txeb17-90059.pdf
         represented by: Samuel L. Milledge, Esq.
                         THE MILLEDGE LAW FIRM, P.C.
                         E-mail: milledge@milledgelawfirm.com

In re Reynolds Protection LLC
   Bankr. N.D. Tex. Case No. 17-30761
      Chapter 11 Petition filed March 2, 2017
         See http://bankrupt.com/misc/txnb17-30761.pdf
         represented by: Joyce W. Lindauer, Esq.
                         JOYCE W. LINDAUER ATTORNEY, PLLC
                         E-mail: joyce@joycelindauer.com

In re Bruce A. Olson and Slvia G. Garrett
   Bankr. W.D. Wash. Case No. 17-10943
      Chapter 11 Petition filed March 2, 2017
         represented by: Darrel B Carter, Esq.
                         CBG LAW GROUP PLLC
                         E-mail: Darrel@cbglaw.com

In re William Rudolph Hegger
   Bankr. W.D. Wash. Case No. 17-10950
      Chapter 11 Petition filed March 2, 2017
         represented by: Emily A Jarvis, Esq.
                         WELLS AND JARVIS, P.S.
                         E-mail: emily@wellsandjarvis.com

In re Gary Dennis Hochman
   Bankr. S.D. Cal. Case No. 17-01184
      Chapter 11 Petition filed March 3, 2017
         represented by: David L. Speckman, Esq.
                         SPECKMAN & ASSOCIATES
                         E-mail: speckmanandassociates@gmail.com

In re Ali Salim Rammal
   Bankr. S.D. Cal. Case No. 17-01187
      Chapter 11 Petition filed March 3, 2017
         Filed Pro Se

In re Black Diamond Group, LLC
   Bankr. D. Conn. Case No. 17-50233
      Chapter 11 Petition filed March 3, 2017
         See http://bankrupt.com/misc/ctb17-50233.pdf
         represented by: James M. Nugent, Esq.
                         HARLOW, ADAMS, AND FRIEDMAN
                         E-mail: jmn@quidproquo.com

In re John G. Stevens, Jr.
   Bankr. M.D. Ga. Case No. 17-10237
      Chapter 11 Petition filed March 3, 2017
         represented by: David E. Mullis, Esq.
                         DAVID E. MULLIS, P.C.
                         E-mail: dmullis@businesslawhelp.com

In re Total EHR, LLC
   Bankr. N.D. Ga. Case No. 17-53995
      Chapter 11 Petition filed March 3, 2017
         See http://bankrupt.com/misc/ganb17-53995.pdf
         represented by: Edward F. Danowitz, Esq.
                         DANOWITZ LEGAL, P.C.
                         E-mail: edanowitz@danowitzlegal.com

In re Amy Marie Kelly and James Vincent Kelly, Jr.
   Bankr. E.D.N.Y. Case No. 17-71254
      Chapter 11 Petition filed March 3, 2017
         Filed Pro Se

In re Sergey Petrovich Poymanov and Aleksey Vladimirovich Bazarnov
   Bankr S.D.N.Y. Case No. 17-10516
      Chapter 11 Petition filed March 3, 2017
         See http://bankrupt.com/misc/nysb17-10516.pdf
         represented by: Owen C. Pell, Esq.
                         WHITE & CASE LLP
                         E-mail: opell@whitecase.com

In re PA Real Estate Development, Inc.
   Bankr. W.D. Pa. Case No. 17-20833
      Chapter 11 Petition filed March 3, 2017
         Filed Pro Se

In re PGH Real Estate Experts LLC
   Bankr. W.D. Pa. Case No. 17-20835
      Chapter 11 Petition filed March 3, 2017
         Filed Pro Se

In re Texas LC Liquor Company
   Bankr. E.D. Tex. Case No. 17-40443
      Chapter 11 Petition filed March 3, 2017
         See http://bankrupt.com/misc/txeb17-40443.pdf
         represented by: Jeff Carruth, Esq.
                         WEYCER, KAPLAN, PULASKI & ZUBER, P.C.
                         E-mail: jcarruth@wkpz.com

In re Performance Enterprises Of Utah, Inc.
   Bankr. D. Utah Case No. 17-21544
      Chapter 11 Petition filed March 3, 2017
         See http://bankrupt.com/misc/utb17-21544.pdf
         represented by: Russell S. Walker, Esq.
                         WOODBURY & KESLER
                         E-mail: rwalker@wklawpc.com

In re Bryce Stirlen
   Bankr. N.D. Ill. Case No. 17-06666
      Chapter 11 Petition filed March 5, 2017
         represented by: Gregory K Stern, Esq.
                         GREGORY K. STERN, P.C.
                         E-mail: gstern1@flash.net

In re Rondaxe Properties, LLC
   Bankr. W.D.N.Y. Case No. 17-20207
      Chapter 11 Petition filed March 5, 2017
         See http://bankrupt.com/misc/nywb17-20207.pdf
         represented by: Mark A. Weiermiller, Esq.
               COOPER, PAUTZ, WEIERMILLER & DAUBNER, LLP
                         E-mail: mweiermiller@cpwdlaw.com

In re Annamaria Loris
   Bankr. W.D. Pa. Case No. 17-20847
      Chapter 11 Petition filed March 5, 2017
         represented by: Richard P. Gainey, Esq.
                         GAINEY LAW OFFICES
                         E-mail: richard.gainey@comcast.net

In re NSC Puerto Rico Inc.
   Bankr. D.P.R. Case No. 17-01534
      Chapter 11 Petition filed March 5, 2017
         See http://bankrupt.com/misc/prb17-01534.pdf
         represented by: Hector Eduardo Pedrosa-Luna, Esq.
                   THE LAW OFFICES OF HECTOR EDUARDO PEDROSA LUNA
                         E-mail: hectorpedrosa@gmail.com

In re KDK Homes LLC
   Bankr. E.D. Cal. Case No. 17-90171
      Chapter 11 Petition filed March 6, 2017
         See http://bankrupt.com/misc/caeb17-90171.pdf
         represented by: David C. Johnston, Esq.

In re Impacting A Generation Inc.
   Bankr. N.D. Ga. Case No. 17-54072
      Chapter 11 Petition filed March 6, 2017
         See http://bankrupt.com/misc/ganb17-54072.pdf
         represented by: Paul Reece Marr, Esq.
                         PAUL REECE MARR, P.C.
                         E-mail: paul@paulmarr.com

In re HBCU Properties LLC
   Bankr. N.D. Ga. Case No. 17-54172
      Chapter 11 Petition filed March 6, 2017
         See http://bankrupt.com/misc/ganb17-54172.pdf
         represented by: Gregory T. Bailey, Esq.
                         GREG T BAILEY & ASSOCIATES INC.
                         E-mail: attygregtbailey@msn.com

In re RMN, Inc.
   Bankr. N.D. Ga. Case No. 17-54264
      Chapter 11 Petition filed March 6, 2017
         See http://bankrupt.com/misc/ganb17-54264.pdf
         represented by: Diana McDonald, Esq.
                         LAW OFFICE OF DIANA MCDONALD
                         E-mail: dym@lawfirmmcdonald.com

In re Promomanagers Inc.
   Bankr. D. Mass. Case No. 17-10747
      Chapter 11 Petition filed March 6, 2017
         See http://bankrupt.com/misc/mab17-10747.pdf
         represented by: Nina M. Parker, Esq.
                         PARKER & ASSOCIATES
                         E-mail: nparker@ninaparker.com

In re Baria and Sons, LLC
   Bankr. W.D. Mich. Case No. 17-00970
      Chapter 11 Petition filed March 6, 2017
         See http://bankrupt.com/misc/miwb17-00970.pdf
         represented by: Michael Patrick Hanrahan, Esq.
                         CHASE BYLENGA HULST, PLLC
                         E-mail: mike@chasebylenga.com

In re Richard Lee Gregg
   Bankr. D. Neb. Case No. 17-80266
      Chapter 11 Petition filed March 6, 2017
         represented by: Patrick Patino, Esq.
                         KOENIG DUNNE P.C., LLO
                         E-mail: pennyb@koenigdunne.com

In re Sam-On-Demand, LLC
   Bankr. D. Neb. Case No. 17-80268
      Chapter 11 Petition filed March 6, 2017
         See http://bankrupt.com/misc/neb17-80268.pdf
         represented by: Patrick Raymond Turner, Esq.
                         STINSON LEONARD STREET LLP
                         E-mail: patrick.turner@stinsonleonard.com

In re Epitacio G. Cabalfin and Senen C. Cabalfin
   Bankr. D.N.J. Case No. 17-14312
      Chapter 11 Petition filed March 6, 2017
         represented by: Bruce W. Radowitz, Esq.
                         E-mail: bradowitz@comcast.net

In re Eric R. Braverman
   Bankr. S.D.N.Y. Case No. 17-10524
      Chapter 11 Petition filed March 6, 2017
         See http://bankrupt.com/misc/nysb17-10524.pdf
         represented by: J. Ted Donovan, Esq.
                         GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP
                         E-mail: TDonovan@GWFGlaw.com

In re Francisco Rodriguez Garcia and Aida Aquino Velez
   Bankr. D.P.R. Case No. 17-01549
      Chapter 11 Petition filed March 6, 2017
         represented by: Jose Ramon Cintron, Esq.
                         E-mail: jrcintron@prtc.net

In re Pine Forest Associates LP
   Bankr. E.D. Tenn. Case No. 17-10991
      Chapter 11 Petition filed March 6, 2017
         See http://bankrupt.com/misc/tneb17-10991.pdf
         represented by: Brent James, Esq.
                         HARRISS HARTMANN LAW FIRM PC
                         E-mail: bkcourts@harrisshartman.com

In re Charles Street Properties, LLC
   Bankr. S.D. Tex. Case No. 17-31462
      Chapter 11 Petition filed March 6, 2017
         See http://bankrupt.com/misc/txsb17-31462.pdf
         represented by: John L. Green, Esq.
                         E-mail: jlgreen488@aol.com

In re R & J Eagle Contractors, Inc.
   Bankr. W.D. Tex. Case No. 17-50509
      Chapter 11 Petition filed March 6, 2017
         See http://bankrupt.com/misc/txwb17-50509.pdf
         represented by: J. Todd Malaise, Esq.
                         MALAISE LAW FIRM
                         E-mail: notices@malaiselawfirm.com

In re Janice Lee Smith
   Bankr. W.D. Wash. Case No. 17-10988
      Chapter 11 Petition filed March 6, 2017
         represented by: Jeffrey L. Smoot, Esq.
                         E-mail: jeff.smoot.law@outlook.com


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR 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 constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  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.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
the e-mail address to which your TCR is delivered to login.

                            *********

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 is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.  
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
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Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
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Copyright 2017.  All rights reserved.  ISSN: 1520-9474.

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