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

              Tuesday, September 24, 2019, Vol. 23, No. 266

                            Headlines

1924 LUNA'S: Authorized to Use Cash Collateral on Final Basis
4 HIM FOOD: Amended Cash Collateral Budget Through Oct. 19 Okayed
8425 WILLOW: Oct. 2 Plan Confirmation Hearing
ABC PM 652: Seeks Court Approval to Hire South Coast Appraisals
ABQ POST ACUTE: U.S. Trustee Forms 3-Member Committee

ABSOLUT FACILITIES: Oct. 3 Meeting Set to Form Creditors' Panel
ALPHA SCREEN: U.S. Trustee Unable to Appoint Committee
ANASTASIA HOLDINGS: S&P Cuts ICR to 'B-' on Declining Performance
ANDERSON FARMS: Resolves Dispute on Treatment of Zions Bank Claim
ANKA BEHAVIORAL: Court Discharges PCO Duties

APC AUTOMOTIVE: S&P Lowers ICR to 'CCC'; Outlook Negative
APELLIS PHARMACEUTICALS: Closes $220M Convertible Notes Offering
ASPEN VILLAGE: Amends Treatment of Interest Claims
ASSOCIATED ORAL: Nov. 7 Hearing on Disclosure Statement
ASTRIA HEALTH: PCO Files 1st Interim Report

AVIS BUDGET: S&P Affirms 'BB' Issuer Credit Rating; Outlook Stable
AVSC HOLDING: Moody's Rates New $430MM 1st Lien Loan Due 2026 'B2'
AVSC HOLDING: S&P Rates New $430MM First-Lien Term Loan 'B-'
BCAUSE MINING: WESCO to Get 100% Plus 1% for Deficiency Claim
BIOCLINICA HOLDING: S&P Alters Outlook to Stable, Affirms B- ICR

BRADLEY INVESTMENTS: Agromax, Ping Appointed as Committee Members
BRETHREN HOME: Court Grants Waiver of PCO Appointment
BUZZ TEAM: Unsecured Creditors to Get 10% Under Plan
CALAIS REGIONAL: Says Appointment of PCO Not Necessary
CALIFORNIA RESOURCES: Debunks Reports of Restructuring

CALUMET SPECIALTY: Fitch to Rate New Unsec. Notes 'B-(EXP)'
CALUMET SPECIALTY: Moody's Rates Proposed Notes Due 2025 'Caa1'
CAROLINA VALUE: Unsecureds to Get Quarterly Payments Over 2 Years
CHICK LUMBER: Gets Interim Approval to Use up to $550K in Cash
CHOICE ONE: U.S. Trustee Unable to Appoint Committee

CITI-EQUITY GROUP: Court Junks Al Abdo Suit vs L. Westreich, et al.
CLASS A PROPERTIES: Court Dismisses Chapter 11 Bankruptcy Case
COHU INC: Moody's Lowers CFR to B2 & Alters Outlook to Negative
COLLEGIUM CHARTER SCHOOL, PA: S&P Cuts Revenue Debt Rating to 'BB'
CONSOLIDATED MFG: Sale of 2012 Chevy Pickup Approved

CONSOLIDATED MFG: Sale of Drug Testing Equipment Approved
CONSOLIDATED MFG: Sale of Embroidery Equipment Approved
CONTINENTAL CAST: May Continue Using Central Bank’s Cash Collateral
CSC HOLDINGS: S&P Rates New $1.5BB Secured Term Loan Due 2027 'BB'
CSI-ABSOLUTE: Unsecured Creditors to Recoup 1% Under Plan

DELIVER BUYER: S&P Cuts ICR to B- on Weak Performance; Outlook Neg.
DENTAL CARE: A.M. Best Lowers Financial Strength Rating to B(Fair)
DEPENDABLE BUILDING: Taps Joel A. Schechter as Legal Counsel
DIAMONDBACK ENERGY: Moody's Alters Outlook on Ba1 CFR to Positive
DIAZ & STOLITZA: U.S. Trustee Unable to Appoint Committee

DIGITAL REALTY: S&P Affirms 'BB+' Preferred Stock Rating
DPW HOLDINGS: Amends $1.49 Million Convertible Promissory Note
DR. RICHARD R. ROLLE: Order Directing PCO Appointment Vacated
E.W. SCRIPPS: S&P Lowers ICR to 'B' ICR on Debt-Funded Acquisition
EL CASTILLO RETIREMENT: Fitch Rates New 2019A/B Revenue Bonds 'BB+'

ELEVATE TEXTILES: Moody's Lowers CFR to B3 on Weak Revenues
EP ENERGY: Obtains Forbearance Extension Until October 3
F & S ASSOCIATES: Unsecureds to Get 100% With Interest
FAIRGROUNDS PROPERTIES: Court Approves Disclosure Statement
FIRST CHICAGO: A.M. Best Hikes Fin. Strength Rating to B-(Fair)

FIRST FLORIDA: U.S. Trustee Directed to Appoint PCO
FIVE DREAMS: Unsecureds to Get Full Payment at 3% Interest
FORTRESS GROUP: Houchens Auction of Edmonson Property Approved
FOSSIL GROUP: Moody's Assigns Ba3 CFR, Outlook Stable
FOSSIL GROUP: S&P Assigns BB- ICR, Rates $200M Term Loan 'BB'

FRANKIE V'S KITCHEN: Court Approves Disclosure Statement
FUSION CONNECT: Second Lien Lenders Object to Disclosure Statement
GARDA WORLD: Fitch Affirms B+ LongTerm IDR, Outlook Stable
GIBSON ENERGY: Moody's Rates C$500MM Unsec. Notes 'Ba2'
HALCON RESOURCES: Files Plan Supplement Documents

HEARTS AND HANDS: Gets Continued Cash Access, Oct. 8 Final Hearing
HELIX TCS: Signs Deal to Sell Note & Warrant for $450,000
HESS INFRASTRUCTURE: Fitch Alters Outlook on BB LT IDR to Stable
HILLMAN GROUP: Moody's Affirms B3 CFR, Outlook Negative
HUMMEL STATION: S&P Cuts Senior Secured Term Loan B Rating to 'B'

ICON CONSTRUCTION: BOKF to Get $172K Over 5 Years With 6%
INLAND FAMILY PRACTICE: US Trustee Seeks Hearing on PCO Appointment
INVERSIONES CARIBE: Confirmation Held in Abeyance
J. CREW: S&P Cuts ICR to 'CCC-' on High Risk of Recapitalization
JAUREGUI TRUCKING: Seeks Further Cash Access, Pay Creditor $40K

JO-ANN STORES: S&P Lowers ICR to 'B-'; Outlook Negative
JOSEPH'S TRANSPORTATION: May Continue Using Cash Through Nov. 6
KAIROS HOMES: Allowed to Use Sales Proceeds From Weatherford Assets
LASALLE GROUP: PCO Files 2nd Interim Report for Cinco Ranch
LASALLE GROUP: PCO Files 2nd Interim Report for Pearland

LASALLE GROUP: PCO Files 2nd Interim Report for Riverstone
LASALLE GROUP: PCO Files 2nd Interim Report for West Houston
LIGHTHOUSE PLUMBING: Seeks to Use IRS Cash Collateral
MCDERMOTT TECHNOLOGY: Moody's Lowers CFR to B3
MCP REAL ESTATE: Creditors to Get Payment From Sale Proceeds

MEDCOAST MEDSERVICE: U.S. Trustee Directed to Appoint PCO
MEMPHIS SPINE: Court Approves Disclosure Statement
MERCER INTERNATIONAL: S&P Alters Outlook to Stable, Affirms BB- ICR
MEREDITH CORP: S&P Alters Outlook to Stable, Affirms 'B+' ICR
MESABI METALLICS: Court Dismisses CCMLD Appeal as Moot

MINNESOTA MEDICAL: S&P Cuts ICR to CC; Ratings Remain on Watch Neg.
MMMT CORPORATION: Case Summary & 20 Largest Unsecured Creditors
MR. CAMPER: Seeks Authorization on Cash Collateral Use
MUSCLEPHARM CORP: CEO Drexler Hikes Stake to 58.8% as of Sept. 16
NEWS-GAZETTE INC: Sept. 30 Auction of All Assets Set

NEWTON FALLS: Moody's Affirms Ba1 Rating on $1.3MM GOULT Debt
NEXTERA ENERGY: Fitch Rates $500MM Unsec. Notes Due 2026 'BB+'
NEXTERA ENERGY: S&P Rates $500MM Sr. Unsecured Notes Due 2026 'BB'
NOVASOM INC: Court Waives Patient Care Ombudsman Appointment
ODES INDUSTRIES: Final Cash Collateral Hearing Set for Oct. 1

ODES INDUSTRIES: Seeks Approval on Interim Cash Collateral Use
OLMOS EQUIPMENT: Court Narrows Claims in Trustee Suit vs DCM
OUTPUT SERVICES: S&P Affirms 'B-' ICR on Refinancing; Outlook Neg.
OWENS-ILLINOIS INC: S&P Alters Outlook to Neg., Affirms 'BB' ICR
PANDA LIBERTY: S&P Lowers Debt Rating to 'CCC' on Refinancing Risk

PANDA PATRIOT: S&P Lowers Debt Rating to 'B-'; Outlook Negative
PAYLESS HOLDINGS: Court Approves Disclosure Statement
PEABODY ENERGY: 8th Cir. Affirms Judgment Approving Chapter 11 Plan
PETROLEUM TOWERS: Plea on Cash Collateral Use Dismissed as Moot
PH DIP INC: Dec. 5 Plan Confirmation Hearing

PINE CREEK MEDICAL: Asks Court to Determine PCO Not Needed
PINE CREEK MEDICAL: Liquidation, Sale Proceeds to Fund Plan Payment
POET TECHNOLOGIES: Closes Fifth Tranche of Convertible Debentures
PRESSURE BIOSCIENCES: Appoints New Chief Financial Officer
PRESTIGE-PLUS HEATH: Asks Court to Dispense With PCO Appointment

PRO TECH MACHINING: U.S. Trustee Unable to Appoint Committee
PROFLO INDUSTRIES: Allowed to Continue Using Cash Through Nov. 30
PURDUE PHARMA: Sept. 26 Meeting Set to Form Creditors' Panel
RAYMOND WOOTEN: $620K Sale of Las Cruces Commercial Property Okayed
ROYALE ENERGY: Matrix Grants Vanco Rights to Buy Texas Properties

SAGE & SWIFT: Court Conditionally Approves Disclosure Statement
SALLY WILLIAMSON: Court Conditionally Approves Disclosure Statement
SAM KANE BEEF: Oct. 11 Disclosure Statement, Plan Hearing
SEDONA DEV'T: Appeals Court Upholds Order Against Seven Canyons
SELECTA BIOSCIENCES: Timothy Springer Has 16.1% Stake as of Sept. 3

SHAPE TECHNOLOGIES: Moody's Cuts CFR to B3, Outlook Stable
SHOPPINGTOWN MALL NY: U.S. Trustee Unable to Appoint Committee
SIENNA BIOPHARMACEUTICALS: Sept. 27 Mtg. Set to Form Creditor Panel
SKY-SKAN INC: Nov. 25 Plan Confirmation Hearing
SOTHEBY'S: S&P Rates Proposed $550MM Senior Secured Notes 'B+'

SS BODY ARMOR: 3rd Cir. Upholds Denial of CLM Emergency Stay Bid
TAMARA HOME CARE: U.S. Trustee Says PCO Not Necessary
TENDER LOVING HOME: U.S. Trustee Unable to Appoint Committee
THRUSH AIRCRAFT: GE Aviation Appointed as New Committee Member
TRANSDIGM INC: Moody's Affirms B1 CFR & Alters Outlook to Stable

TRI-CORE PARTNERS: Continued Cash Collateral Hearing on Sept. 24
TRIBECA AESTHETIC: Says PCO Appointment Not Necessary
US VIRGIN ISLANDS: Moody's Confirms Caa3 Issuer Rating
VANGUARD HEALTH: Nov. 12 Plan Confirmation Hearing
VISTA OUTDOOR: S&P Lowers ICR to 'B' on Declining Performance

WELLCARE HEALTH: S&P Keeps 'BB' Rating on CreditWatch Positive
WILLIAMS PLUMBING: Seeks Access to BFS Capital Cash Collateral
WILLIAMS PLUMBING: Seeks Access to Par Funding Cash Collateral
WILLIAMS PLUMBING: Seeks Permission to Use Kabbage Cash Collateral
WILLIAMS PLUMBING: Seeks Permission to Use On Deck Cash Collateral

WILLOWOOD USA: Cimarron Label Steps Down as Committee Member
[^] Large Companies with Insolvent Balance Sheet

                            *********

1924 LUNA'S: Authorized to Use Cash Collateral on Final Basis
-------------------------------------------------------------
Judge Stacey G. C. Jernigan of the U.S. Bankruptcy Court for the
Northern District of Texas authorized 1924 Luna's & Associates,
Inc. to use cash collateral in accordance with the Budget and the
provisions of the Final Order.

Frost Bank holds a first-priority perfected security interest in
cash collateral and its proceeds. The Internal Revenue Service and
Quickstone Capital Corporation also assert a lien position on the
cash collateral.

The Secured Creditors are granted replacement liens co-existent
with their pre-petition liens in after acquired property of the
estate. As additional adequate protection, the Debtor is directed
to:

      (a) supply Frost Bank a copy of the current online bank
statement for each of the Debtor's debtor-in-possession accounts;

      (b) remain current on all post-petition tax payments and
reporting obligations;

      (c) maintain its debtor-in-possession accounts at Frost
Bank;

      (d) provide Frost Bank with a report that reconciles the
projected income and expenses in the Budget against the actual
receipts and disbursements for the time period covered by the
Budget;

      (e) provide Frost Bank with proof of insurance coverage and
maintain the same on the tangible portions of the collateral and
real property; and

      (f) provide Frost Bank with a monthly adequate protection
payment of $7,920.48 throughout the duration of the Debtor's use of
cash collateral under the Final Order.

The Debtor's  rights to use cash collateral under the Final Order
will immediately terminate upon the earlier of: (i) the Debtor's
confirmation of a plan of reorganization; (ii) conversion of the
Debtor's chapter 11 case to a case under chapter 7 of the
Bankruptcy Code; or (iii) seven calendar days following Frost
Bank's  delivery of a notice of breach by the Debtor of any
obligations under the Final Order.

                 About 1924 Luna's & Associates

1924 Luna's & Associates Inc., is a privately held company which
operates a tortilla factory in Dallas, Texas. 1924 Luna's sought
Chapter 11 protection (Bankr. N.D. Tex. Case No. 19-32637) on Aug.
5, 2019.  In the petition signed by Fernando Luna, president, the
Debtor's total assets have estimated value of up to $50,000, while
its liabilities are estimated between $1 million and $10 million.
Judge Stacey G. Jernigan is the case judge.  Eric A. Liepins, P.C.
is the Debtor's counsel.



4 HIM FOOD: Amended Cash Collateral Budget Through Oct. 19 Okayed
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Oregon entered a
Stipulated Amended Order authorizing 4 Him Food Group LLC's use of
cash collateral pursuant to the Amended Budget.

The Amended Budget provides total cash used for operating expenses
in the approximate amount of $2,326,372 through Oct. 19, 2019.

The terms and conditions as identified on the Cash Collateral Order
remain in full force and effect.

                    About 4 Him Food Group

4 Him Food Group, LLC, d/b/a Cosmos Creations --
http://www.cosmoscreations.com/-- is a snack food company
specializing in manufacturing, marketing, and distribution of
puffed corn.  4 Him Food Group manufactures premium natural snack
foods -- including non-GMO hull-and-kernel-free puffed corn -- from
state of the art manufacturing facilities in the heart of Oregon's
Willamette Valley.

4 Him Food Group sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Ore. Case No. 19-62049) on July 2, 2019.
The petition was signed by John Strasheim, president.  At the time
of the filing, the Debtor disclosed assets in the amount of
$15,043,017 and liabilities in the amount of $18,755,626.  Timothy
A. Solomon, Esq., at Leonard Law Group LLC, is the Debtor's
counsel.  Judge Thomas M. Renn is assigned to the case.  Leonard
Law Group LLC is the Debtor's counsel.

Gregory Garvin, acting U.S. trustee for Region 18, on Aug. 6
appointed five creditors to serve on the official committee of
unsecured creditors in the Chapter 11 case of 4 Him Food Group,
LLC.



8425 WILLOW: Oct. 2 Plan Confirmation Hearing
---------------------------------------------
8425 Willow Leaf LLC sought and obtained from the U.S. Bankruptcy
Court for the District of Nevada conditional approval of the
disclosure statement explaining its amended plan of reorganization.
The Bankruptcy Court will convene a hearing to consider final
approval of the disclosure statement and confirmation of the
Amended Plan for October 2, 2019, at 1:30 P.M.

Class 1 shall receive the $1,378.97 monthly principal and interest
payments, which is an amount based on the amount stipulated value
of the Golden Property being $230,000.00, amortized over a 30-year
term, at 6% fixed rate per annum.

In agreement with the Resolution Stipulation, in complete
satisfaction of any unsecured or secured claim that Wells Fargo
might hold against Debtor, Class 2 Claim shall be offered the
indubitable equivalent of any such unsecured or secured claim that
Wells Fargo might hold against Debtor.

The Debtor proposes to pay Bank of New York Mellon, a secured
creditor, an agreed-upon $1,378.97 monthly principal, and interest
payment. Such amount is based on the stipulated value of the Golden
Property being $230,000.00 amortized over a 30-year term, at a 6%
fixed rate per annum.

The Debtor will fully satisfy unsecured or secured claim that Wells
Fargo might hold against Debtor, as Wells Fargo will be offered the
indubitable equivalent of any such unsecured or secured claim that
may have by Wells Fargo against Debtor.

The Debtor has total assets of $856,229.08.

A full-text copy of the Amended Disclosure Statement is available
at https://tinyurl.com/y366bzvq from PacerMonitor.com at no
charge.

The Debtor is represented by:

     Ryan A. Andersen, Esq.
     Ani Biesiada, Esq.
     Andersen Law Firm, Ltd.
     101 Convention Center Drive, Suite 600
     Las Vegas, Nevada 89109

                About 8425 Willow Leaf

8425 Willow Leaf LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Nev. Case No. 18-16111) on Oct. 11,
2018.  At the time of the filing, the Debtor estimated assets of
less than $1 million and liabilities of less than $50,000.  Judge
August B. Landis presides over the case.  The Debtor tapped
Andersen Law Firm, Ltd., as its legal counsel.


ABC PM 652: Seeks Court Approval to Hire South Coast Appraisals
---------------------------------------------------------------
ABC PM 652 S Sunset LLC seeks authority from the U.S. Bankruptcy
Court for the Central District of California to hire a real estate
appraiser.

In an application filed in court, the Debtor proposes to employ
South Coast Appraisals, Inc. to appraise its property located at
652 S. Sunset Ave., West Covina, Calif.  American Beauty College
leases the property from the Debtor.

South Coast Appraisals will be paid the sum of $1,300 for its
services.

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

The firm can be reached at:

     David R. Patzlaff
     South Coast Appraisals, Inc.
     5592 Mangrum Drive
     Huntington Beach, CA 92649
     Office: (714) 840-5290
     Cell: (714) 717-4247
     Fax: (714) 840-5290
     Email: DavePatzlaff@southcoastappraisals.com

                About ABC PM 652 S Sunset

ABC PM 652 S Sunset LLC, a privately held company that provides
property management services.  ABC PM 652 S Sunset, filed a Chapter
11 petition (Bankr. C.D. Cal. Case No. 19-16004) on May 22, 2019.
In the petition signed by Juana M. Roman, managing member, the
Debtor estimated $1 million to $10 million in both assets and
liabilities.  Judge Barry Russell oversees the case.  John H.
Bauer, Esq., at Financial Relief Legal Advocates, Inc., is the
Debtor's bankruptcy counsel.


ABQ POST ACUTE: U.S. Trustee Forms 3-Member Committee
-----------------------------------------------------
The Office of the U.S. Trustee on Sept. 20 appointed three
creditors to serve on the official committee of unsecured creditors
in the Chapter 11 case of ABQ Post Acute, LLC.

The committee members are:

     (1) CSBB, Inc.
         aka Contract Services by Brown Inc.
         Attn: Ed Cook
         136 Gonzales Road
         Edgewood NM 87015
         (505) 710-4496
         edwardacook@yahoo.com

     (2) Genesis ElderCare Rehabilitation Services, LLC
         d/b/a Genesis Rehabilitation and
         Respiratory Health Services
         Attn: Pamela Voorhees
         101 East State Street
         Kennett Square, PA 19348
         (610) 925-4227
         Pamela.voorhees@genesishcc.com  

     (3) New Mexico Health Care Association
         Rachel Benavidez
         4600 A Montgomery Blvd NE #205
         Albuquerque, NM 87109
         (505) 880-1088
         rbenavidez@nmhca.org
  
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

                       About ABQ Post Acute

ABQ Post Acute, LLC, owner of a skilled nursing home facility in
Albuquerque, N.M., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. N.M. Case No. 19-11865) on Aug. 12,
2019.  At the time of the filing, the Debtor disclosed $4,108,423
in assets and $1,528,367 in liabilities.  The case has been
assigned to Judge David T. Thuma.  The Debtor is represented by NM
Financial Law, P.C.


ABSOLUT FACILITIES: Oct. 3 Meeting Set to Form Creditors' Panel
---------------------------------------------------------------
William K. Harrington, United States Trustee, for Region 2, will
hold an organizational meeting on October 3, 2019, at 10:00 a.m. in
the bankruptcy cases of Absolut Facilities Management, LLC, et al.

The meeting will be held at:

         Office of the United States Trustee
         560 Federal Plaza
         Room 563
         Central Islip, New York 11722

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' case.

The organizational meeting is not the meeting of creditors pursuant
to Section 341 of the Bankruptcy Code.  A representative of the
Debtor, however, may attend the Organizational Meeting, and provide
background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States Trustee
appoint a committee of unsecured creditors as soon as practicable.
The Committee ordinarily consists of the persons, willing to serve,
that hold the seven largest unsecured claims against the debtor of
the kinds represented on the committee.

Section 1103 of the Bankruptcy Code provides that the Committee may
consult with the debtor, investigate the debtor and its business
operations and participate in the formulation of a plan of
reorganization.  The Committee may also perform other services as
are in the interests of the unsecured creditors whom it
represents.

                     About Absolut Facilities

Absolut Facilities Management, LLC, through its subsidiaries, owns
six skilled nursing facilities and one assisted living facility in
the state of New York, have sought Chapter 11 protection.

On Sept. 10, 2019, Absolut Facilities Management, LLC and seven
related entities each filed a voluntary petition for relief under
Chapter 11 of the United States Bankruptcy Code (Bankr. S.D.N.Y.
Lead Case No. 19-76260).

Loeb & Loeb LLP is the Debtors' counsel.  Prime Clerk LLC is the
claims and noticing agent.


ALPHA SCREEN: U.S. Trustee Unable to Appoint Committee
------------------------------------------------------
The Office of the U.S. Trustee on Sept. 19 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of Alpha Screen Graphics, Inc.

                 About Alpha Screen Graphics

Alpha Screen Graphics, Inc., filed a Chapter 11 bankruptcy petition
(Bankr. W.D. Pa. Case No. 19-22969) on July 26, 2019, disclosing
under $1 million in both assets and liabilities. The Debtor is
represented Robert O Lampl, Esq., at Robert O Lampl Law Office.


ANASTASIA HOLDINGS: S&P Cuts ICR to 'B-' on Declining Performance
-----------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Beverly
Hills, Calif.-based cosmetics company Anastasia Holdings LLC
(Anastasia Beverly Hills or ABH) and its subsidiaries to 'B-' from
'B'.

At the same time, S&P lowered its issue-level rating on the
company's first-lien facility to 'B-' from 'B' as a result of the
downgrade of the companies. The recovery rating remains '3',
indicating its expectation for meaningful (50%-70%, rounded
estimate 60%) recovery in the event of a payment default.

The downgrade and negative outlook reflect ABH's rapidly declining
revenue and EBITDA margin, dwindling cash flow, and deteriorating
liquidity position. The company's sales continued to decline by
double-digit percentages during its second quarter ended June 30,
2019. S&P no longer expects the company's recent foundation launch
will be sufficient to offset the declines in the eye shadow and
other color categories. As a result, S&P has revised its forecast
and now expects the company's adjusted leverage will remain
elevated at around 12x–13x (mid- to high-6x range excluding
preferred stock) at fiscal year-end 2019, as opposed to its
previous expectation for adjusted leverage of around 9x. S&P also
expects the company to generate marginally positive cash flow after
its required tax distribution for 2019, compared with the rating
agency's prior forecast of about $30 million of cash flow.
Additionally, given the company's current high leverage, S&P
believes the company would not be able to comply with the springing
net leverage covenant on its revolver should the covenant be
tested. Currently, the covenant is not applicable given that the
company has no borrowings under its revolver at the end of the
second quarter.

S&P said, "The negative outlook reflects the risk that we could
assess the company's capital structure as unsustainable in the long
term. We could lower the rating over the next two quarters if the
company's revenue and profitability continue to decline,
S&P-adjusted leverage remains well above 10x, and the company fails
to generate positive cash flow after tax distribution. We estimate
this could occur if the company's North American wholesale segment
continues to deteriorate, and its EBITDA weakens 5% from current
levels. We could also lower our ratings if the company's liquidity
position deteriorates further due to negative cash flow generation
and resulting reliance on its revolver and potential covenant
compliance breach."

"We could revise the outlook to stable if the company stabilizes
its sales and generates moderate levels of cash flow, after
required tax distribution, on a sustained basis. We believe this
could occur if the broader color cosmetics market in the U.S.
improves and the brand continues to resonate with customers,
resulting in revenue growth."


ANDERSON FARMS: Resolves Dispute on Treatment of Zions Bank Claim
-----------------------------------------------------------------
A hearing to consider confirmation of Anderson Farms, Inc.'s first
amended Chapter 11 plan of reorganization was held on August 28.
Steven Taggart, Esq., attorney for the Debtor, indicated that a
stipulation has been filed resolving objections.  After discussion,
the Court will said it will grant Confirmation.

The Debtor an Creditor Zions Bancorporation, N.A., dba Zions First
National Bank, f/k/a ZB, N.A., dba Zions First National Bank, filed
a stipulation concerning the treatment of Zions Bank's claim under
First Amended Plan.

Zions Bank has filed a partially secured claim for $246,297.51.
Zions Bank's claim derived from a loan to Choice Feed, LLC, Trent
Anderson and Paul Mickelson & Kelly Mickelson with a Commercial
Guaranty and Commercial Security Agreement executed by Anderson
Farms.

Anderson Farms has previously surrendered various equipment to
Zions Bank to be sold and has purchased equipment from Zions Bank.
Such actions have previously been approved by the Court.

The Debtor's Plan proposed to deem Zions Bank's claim satisfied in
light of proposed
agreements with Choice Feed, Inc., Trent Anderson and the
Mickelsons to make a significant payment to Zions Bank of
$100,000.

Recent events involving the Agreement have impacted that proposed
resolution.

In order to now resolve Zions Bank's claim in this case, Debtor and
Zions Bank have agreed to modify the proposed plan treatment under
Debtor's Plan, pursuant to 11 U.S. Code Section 1127, to allow
Zions Bank an unsecured claim in Class 13 in a stipulated amount
of
$95,665.82.  That proposed Plan treatment discounts Zions Bank's
remaining unsecured claim
of $195,665.82 by $100,000.00 or more than half. That reduction,
combined with the overall size of the unsecured creditor pool, will
result in limited impact on other unsecured creditors.

A full-text copy of a Pre-Confirmation Report is available at
https://tinyurl.com/y2boghn8 from PacerMonitor.com at no charge.

The Debtor is represented by:

     Steven L. Taggart, Esq.
     Maynes Taggart PLLC
     P.O. Box 3005
     Idaho Falls, ID 83403
     Tel: (208) 552-6442
     Fax: (208) 524-6095
     Email: staggart@maynestaggart.com

                      About Anderson Farms

Anderson Farms, Inc. -- https://www.andersonfarms.org/ -- operates
a specialized freight trucking business providing a wide range of
services to the agricultural industry that suit the needs and
requirement of transporting feed to dairies and feedlots.  It is
headquartered in Burley, Idaho.  

Anderson Farms sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Idaho Case No. 18-40360) on April 30, 2018.  In the
petition signed by Cameron Smith, director, the Debtor estimated
assets of less than $50,000 and liabilities of $1 million to $10
million.  Judge Joseph M. Meier oversees the case.  Maynes Taggart
PLLC is the Debtor's counsel.


ANKA BEHAVIORAL: Court Discharges PCO Duties
--------------------------------------------
Upon the stipulation between Anka Behavioral Health Incorporated
and David N. Crapo, the Patient Care Ombudsman, for entry of an
Order discharging the PCO from his duties as Patient Care
Ombudsman, and the Debtor having either transferred its facilities
to new providers or transferred residents of those of its
facilities that have been closed to new providers, the Court
ordered that the PCO will be discharged from his duties as patient
care ombudsman in this case.

Notwithstanding the discharge of the PCO from his duties, the Court
retains jurisdiction to determine any disputes or controversies
that may arise as a result of the actions in this case of the PCO,
including, but not limited to, a request by the PCO for a
determination that are protected by immunity, whether
quasi-judicial immunity, testimonial immunity or any other form of
immunity arising from or relating in any way to the performance of
the duties of the PCO in this case, including reports, pleadings or
other writings filed by the PCO in connection with the Cases.

The Patient Care Ombudsman can be reached at:

     DAVID N. CRAPO
     GIBBONS P.C.
     One Gateway Center
     Newark, NJ 07102
     Telephone: (973) 596-4500
     Facsimile: (973) 596-0545
     Email: dcrapo@gibbonslaw.com

              About Anka Behavioral Health

In operation since 1973, Anka Behavioral Health, Inc. --
https://www.ankabhi.org/ -- is a 501(c)3 non-profit behavioral
healthcare corporation. It offers crisis residential treatment,
transitional residential treatment, and long-term residential
treatment for children and adults experiencing a psychiatric
emergency or behavioral crisis. Anka's residential-based facilities
are located in Contra Costa, Alameda, Solano, Sonoma, Santa Clara,
Fresno, San Luis Obispo, Santa Barbara, Ventura, Los Angeles, and
Riverside Counties in California, and Tuscola County in Michigan.

ANKA Behavioral Health sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Cal. Case No. 19-41025) on April 30,
2019.  At the time of the filing, the Debtor estimated assets of
between $1 million and $10 million and liabilities of between $10
million and $50 million.

The case is assigned to Judge William J. Lafferty.

The Debtor tapped Trodella & Lapping, LLP and Wendel, Rosen, Black
& Dean, LLP as legal counsel; BPM LLP as financial advisor; and
Donlin Recano & Company, Inc. as claims and noticing agent.

The U.S. Trustee for Region 17 appointed a committee of unsecured
creditors on May 8, 2019.  The committee is represented by Fox
Rothschild LLP.


APC AUTOMOTIVE: S&P Lowers ICR to 'CCC'; Outlook Negative
---------------------------------------------------------
S&P Global Ratings lowered its ratings on APC Automotive
Technologies Intermediate Holdings LLC (APC), including its issuer
credit rating, to 'CCC' from 'CCC+' At the same time, S&P lowered
its issue-level rating on the company's first-lien debt to 'CCC'
from 'CCC+'.

Growing risk that APC will pursue a debt restructuring over the
next 12 months. The company's capital structure appears
unsustainable and a liquidity crisis is likely. The company's
operating performance continues to deteriorate due to higher raw
material prices, higher import tariffs on Chinese manufactured
products, higher freight rates, and a mix shift to lower-margin
products. While the company has placed a new management team in
place, it is not clear whether their efforts can offset these
issues. Liquidity is now extremely tight, as the company has
indicated its liquidity is only about $12 million from a small
amount of cash and remaining availability on its ABL revolver. S&P
thinks the company will have an extremely difficult time continuing
to operate with such low liquidity, particularly as it approaches
Q1, when the company typically builds inventories. Further, S&P
thinks the company could find it difficult to remain in compliance
with its fixed charge springing covenant.

"The negative outlook reflects that APC's operating performance
could remain sufficiently weak such that it leads to a liquidity
crisis. We also think it will be difficult for the company to
remain in compliance with its fixed charge springing covenant, and
believe it could pursue a distressed exchange over the next year,"
S&P said.

"We could lower our ratings on APC if the company announces a
transaction that we view as a distressed exchange. We could also
lower the rating if we think it is unlikely the company can meet or
amend its fixed charged springing covenant," the rating agency
said.

"Before raising our rating on APC, we would expect the company to
demonstrate a significant and sustained improvement in its
performance as well as a material improvement in liquidity and/or a
waiver or amendment of its covenants. Although unlikely, an equity
infusion could help improve the prospects for the company as well,"
S&P said.


APELLIS PHARMACEUTICALS: Closes $220M Convertible Notes Offering
----------------------------------------------------------------
Apellis Pharmaceuticals, Inc., has closed its offering of $220.0
million aggregate principal amount of 3.500% convertible senior
notes due 2026.  The notes were sold in a private offering to
qualified institutional buyers in reliance on Rule 144A under the
Securities Act of 1933, as amended.  Apellis also granted to the
initial purchasers of the notes a 13-day option to purchase up to
an additional $33.0 million aggregate principal amount of the
notes, solely to cover over-allotments, if any.

The notes are unsecured, senior obligations of Apellis, and bear
interest at a rate of 3.500% per annum, payable semi-annually in
arrears on March 15 and September 15 of each year, beginning on
March 15, 2020.  The notes will mature on Sept. 15, 2026, unless
earlier repurchased, redeemed or converted in accordance with their
terms.  Subject to certain conditions, on or after Sept. 20, 2023,
Apellis may redeem for cash all or a portion of the notes at a
redemption price equal to 100% of the principal amount of the notes
to be redeemed, plus accrued and unpaid interest, if any, to, but
excluding, the redemption date, if the last reported sale price of
Apellis common stock has been at least 130% of the conversion price
then in effect for a specified period of time ending on the trading
day immediately before the date the notice of redemption is sent.

Holders of notes may require Apellis to repurchase their notes upon
the occurrence of certain events that constitute a fundamental
change under the indenture governing the notes at a repurchase
price equal to 100% of the principal amount of the notes to be
repurchased, plus any accrued and unpaid interest to, but
excluding, the date of repurchase.  In connection with certain
corporate events or if Apellis calls any note for redemption, it
will, under certain circumstances, be required to increase the
conversion rate for holders who elect to convert their notes in
connection with such corporate event or notice of redemption.

The notes are convertible into cash, shares of Apellis common
stock, or a combination of cash and shares of Apellis common stock,
at Apellis' election.  Prior to March 15, 2026, the notes are
convertible only upon the occurrence of certain events and during
certain periods, and thereafter, at any time until the second
scheduled trading day immediately preceding the maturity date.

The conversion rate for the notes is initially 25.3405 shares of
Apellis common stock per $1,000 principal amount of notes, which is
equivalent to an initial conversion price of approximately $39.46
per share.  This represents a premium of approximately 25.0% over
the last reported sale price of $31.57 per share of Apellis common
stock on The Nasdaq Global Select Market on Sept. 11, 2019.  The
conversion rate is subject to adjustment upon the occurrence of
certain events.

Apellis estimates that the net proceeds from the sale of the notes
will be approximately $212.9 million (or approximately $244.9
million if the initial purchasers exercise in full their option to
purchase additional notes), after deducting the initial purchasers'
discounts and commissions and estimated offering expenses payable
by Apellis.  Apellis used approximately $28.4 million of the net
proceeds from the offering of the notes to pay the cost of the
capped call transactions described below.  If the initial
purchasers exercise their option to purchase additional notes,
Apellis intends to use a portion of the net proceeds from the sale
of the additional notes to pay the cost of additional capped call
transactions.

Apellis intends to use the remainder of the net proceeds from the
sale of the notes to fund clinical development of APL-2, including
preparation of a New Drug Application submission, to support the
potential commercialization of APL-2, including the build-out of a
commercial infrastructure and sales force, conduct research
activities, repay in full the amount owed under a promissory note
and for working capital and other general corporate purposes.

In connection with the pricing of the notes, Apellis entered into
capped call transactions with an affiliate of one of the initial
purchasers of the notes and another financial institution.  The
capped call transactions are expected generally to reduce the
potential dilutive effect on Apellis common stock upon any
conversion of notes and/or offset any cash payments Apellis is
required to make in excess of the principal amount of converted
notes, as the case may be, with such reduction and/or offset
subject to a cap based on the cap price.  The cap price of the
capped call transactions is initially $63.14 per share of Apellis
common stock, representing a premium of 100% above the last
reported sale price of $31.57 per share of Apellis common stock on
The Nasdaq Global Select Market on Sept. 11, 2019, and is subject
to certain adjustments under the terms of the capped call
transactions.  If the initial purchasers exercise their option to
purchase additional notes, Apellis expects to enter into additional
capped call transactions with the option counterparties.

In connection with establishing their initial hedge of the capped
call transactions, the option counterparties have advised Apellis
that they and/or their respective affiliates expect to purchase
shares of Apellis common stock and/or enter into various derivative
transactions with respect to Apellis common stock concurrently with
or shortly after the pricing of the notes, and, if applicable, the
exercise by the initial purchasers of their option to purchase
additional notes.  This activity could increase (or reduce the size
of any decrease in) the market price of Apellis common stock or the
notes at that time.

In addition, the option counterparties have advised Apellis that
they and/or their respective affiliates may modify their hedge
positions by entering into or unwinding various derivatives with
respect to Apellis common stock and/or purchasing or selling
Apellis common stock or other securities of Apellis in secondary
market transactions following the pricing of the notes and prior to
the maturity of the notes (and are likely to do so during any
observation period related to a conversion of notes or following
any purchase of notes by Apellis upon any fundamental change
purchase date or otherwise).  This activity could also cause or
avoid an increase or a decrease in the market price of Apellis
common stock or the notes, which could affect noteholders' ability
to convert the notes and, to the extent the activity occurs during
any observation period related to a conversion of notes, it could
affect the amount and value of the consideration that noteholders
will receive upon conversion of such notes.

The notes were sold to qualified institutional buyers pursuant to
Rule 144A under the Securities Act.  The offer and sale of the
notes and the shares of common stock issuable upon conversion of
the notes, if any, have not been and will not be registered under
the Securities Act or the securities laws of any other
jurisdiction, and the notes and any such shares may not be offered
or sold in the United States absent registration or an applicable
exemption from such registration requirements.  The offering of the
notes was made only by means of a private offering memorandum.

                        About Apellis

Headquartered in Crestwood, Kentucky, Apellis Pharmaceuticals,
Inc., is a clinical-stage biopharmaceutical company focused on the
development of novel therapeutic compounds for the treatment of a
broad range of life-threatening or debilitating autoimmune diseases
based upon complement immunotherapy through the inhibition of the
complement system at the level of C3.  Apellis is the first company
to advance chronic therapy with a C3 inhibitor into clinical
trials.

Apellis incurred net losses of $127.5 million in 2018, $51 million
in 2017, and $27.12 million in 2016.  As of June 30, 2019, the
Company had $316.70 million in total assets, $157.6 million in
total liabilities, and $159.08 million in total stockholders'
equity.

The report of Ernst & Young, LLP, on the Company's financial
statements as of and for the fiscal year ended Dec. 31, 2018,
includes an explanatory paragraph stating that the Company has
recurring losses from operations and has stated that substantial
doubt exists about the Company's ability to continue as a going
concern.


ASPEN VILLAGE: Amends Treatment of Interest Claims
--------------------------------------------------
Aspen Village at Lost Mountain Memory Care, LLC, filed with the
U.S. Bankruptcy Court for the Northern District of Georgia, Rome
Division, further modifications to its plan of reorganization.

Under the third modification, the Debtor amended the treatment of
Class 8: Interest Claims.

Anderson Glover and Robert Fouse shall each retain their interest
in the Debtor as follows: (i) Mr Glover 55% Ownership Interest
(i.e. 55 Membership Interest units) and (ii) Mr. Fouse 45%
Ownership Interest (i.e. 45 Membership Interest units); provided
that, the Debtor (by through Debtor's Manager) is authorized to
issue additional Membership Interests (i.e. units) in the Debtor
post-Confirmation in the Debtor's business judgment and admit the
holders of such new units as Members of Debtor.  Any such issuance
shall reduce Mr. Glover's and Mr. Fouse's Members Interest and
therefore Ownership Interest (including the economic interest) in
the company pro-rata. Accordingly, and for purpose of demonstration
only, in the event Debtor issues an additional 900 shares for a
total of 1,000 outstanding Membership Interests (i.e. units) in
Debtor, then Mr. Fouse shall retain 45 Membership Interest units
representing 4.5% of the Ownership Interest in the Debtor and Mr.
Glover shall retain 55 units representing 5.5% of the Ownership
Interest in the Debtor. The Operating Agreement of Aspen Village at
Lost Mountain Memory Care, LLC dated March 26, 2014, as amended
September 4, 2018, shall be modified to include the provisions of
this Class 8. The Put Call provisions in Paragraph 12.04 of the
Operating Agreement shall be deleted in their entirety. Debtor
anticipates that the acquisition of funding for completion of the
Memory Care facility will require that the party providing such
funding acquire a substantial and majority ownership interest in
the Debtor. The terms of the ownership structure in the Debtor are
still subject to further negotiation. However, as stated, 100% of
the Ownership Interest in the Debtor shall be vested in Mr. Glover
and Mr. Fouse upon the Confirmation Date; provided that Debtor may
provide for issuance and transfer of interests in the Debtor to the
new investor or funding source.

A full-text copy of the Second Modification is available at
https://tinyurl.com/y5mkh8dg from PacerMonitor.com at no charge.

A full-text copy of the Second Modification is available at
https://tinyurl.com/yyjpybln from PacerMonitor.com at no charge.

           About Aspen Village at Lost Mountain

Aspen Village at Lost Mountain Assisted Living, LLC and Aspen
Village at Lost Mountain Memory Care, LLC filed voluntary Chapter
11 petitions (Bankr. Case N.D. Ga. Nos. 19-40262 and 19-40263,
respectively) on Feb. 5, 2019.  Both operate assisted living
facilities in Georgia.

At the time of filing, both Debtors had estimated assets of less
than $50,000 and liabilities of $1 million to $10 million.

The cases have been assigned to Judge Barbara Ellis-Monro.  The
Debtors tapped Leslie M. Pineyro, Esq., at Jones & Walden, LLC, as
their legal counsel.


ASSOCIATED ORAL: Nov. 7 Hearing on Disclosure Statement
-------------------------------------------------------
The Disclosure Statement filed by Associated Oral Specialties,
Inc., is conditionally approved.

November 7, 2019 is fixed for the hearing on final approval of the
conditionally approved Disclosure Statement and for confirmation of
the Plan. Said hearing shall be held at 10:00 a.m. in Courtroom
1401, United States Courthouse, 75 Ted Turner Drive, SW, Atlanta,
Georgia.

October 28, 2019 is fixed as the last day for filing written
acceptances or rejections of the Plan.

October 28, 2019 is fixed as the last day for filing and serving
written objections to the conditionally approved Disclosure
Statement and confirmation of the Plan

Under the Debtor's Second Amended Disclosure Statement,

Class 7 (General Unsecured Claims): Holders of Class 7 claims shall
be paid a pro rata share of $162,520. Debtor shall pay 16 bi-annual
payments of $4,063 beginning 6 months following the Effective Date.
Debtor shall make a balloon payment of $97,512 on the 97th month
following the Effective Date.

Class 1 (Citizens Bank): Citizens Bank has filed a proof of claim
for $872,738.16. Debtor values the Class 1 Collateral at
$872,738.16.  The Debtor will make monthly interest payments to
Citizens Bank in the amount of $6,000 for months one (1) through
twelve (12). Debtor's payments shall increase to $8,467 for months
thirteen (13) through twenty-four (24) based upon a 15-year
amortization period. Debtor's payments shall increase to $10,085.55
for months twenty-five (25) through thirty-six (36) based upon an
11-year amortization period. Debtor's payments shall increase to
$10,704.36 for months thirty-seven (37) through ninety-six (96)
based upon a 10-year amortization period. The full remaining amount
due on the Class 1 Claim shall all be due and payable on or before
the 97th month following the Effective Date.

Class 2 (Dedicated Funding): Dedicated Funding has filed a proof of
claim for $160,642.07.
Debtor will treat Dedicated Funding's claim as fully secured. The
Debtor will make monthly interest payments to Dedicated Funding in
the amount of $703 for months one (1) through twenty-four (24).
Debtor's payments shall increase to $1,291.37 for months
twenty-five (25) through ninety (95) based upon a 15-year
amortization period. The Debtor shall pay a balloon payment of
$119,595.00 on the 30th day following the 95th month. The Secured
Class 2 Claim is being paid at an annual interest rate of 5.25%
(fixed).

Class 3 (High Speed Capital): High Speed Capital has failed to file
a UCC-1 Financing Statement evidencing its asserted secured claim.
Moreover, any security interest asserted by High Speed Capital is
junior in priority to the liens of the Class 1 and 2 Secured
Claimants. Debtor values High Speed Capital’s secured claim at
$0.00.

Class 4 (Lendini): Any security interest asserted by Lendini is
junior in priority to the liens of the Class 1 and 2 Secured
Claimants. Debtor values Lendini’s secured claim at $0.00.

Class 5 (Fundworks): Any security interest asserted by Fundworks is
junior in priority to the liens of the Class 1 and 2 Secured
Claimants. Debtor values Funwork’s secured claim at $0.00.

Class 6 (Pawnee Leasing): Pawnee Leasing has filed a proof of claim
for $71,100.56.  Debtor will treat Pawnee Leasing's claim as fully
secured. The Debtor will make monthly interest payments to Pawnee
Leasing in the amount of $315.00 for months one (1) through
twenty-four (24). Debtor's payments shall increase to $578.79 for
months twenty-five (25) through ninety (95) based upon a 15-year
amortization period. The Debtor shall pay a balloon payment of
$53,603.00 on the 30th day following the 95th month.

Cash flow from operations as well as new value contributions from
Milestone are projected to be sufficient to make all payments under
the plan.

A full-text copy of the Second Amended Disclosure Statement dated
September 20, 2019, is available at https://tinyurl.com/y3mlmgy
from PacerMonitor.com at no charge.

Attorney for Debtor:

     Will B. Geer, Esq.
     50 Hurt Plaza, SE, Suite 1150
     Atlanta, Georgia 30303
     Tel: (678) 587-8740
     Fax: (404) 287-2767

               About Associated Oral Specialties

Associated Oral Specialties, Inc. --
https://associatedoralspecialties.com/ -- is a provider of
comprehensive oral specialty care in Atlanta, Georgia.  Associated
Oral offers CBCT scans, digital x-rays, root canal (Endodontic)
therapy, root canal (Endodontic) retreatment, root canal surgery
(Apicoectomy), cure for traumatic dental injuries, incision and
drainage, biopsy, implants, sedation dentistry, preprosthetic
surgery, alveoplasty, frenectomy, sleep apnea treatment, bone
grafting, and IV Conscious sedation services.  

Associated Oral Specialties filed a Chapter 11 petition (Bankr.
N.D. Ga. Case No. 19-50715) on Jan. 14, 2019.  In the petition
signed by Freddie J. Wakefield, Jr., chief executive officer, the
Debtor disclosed $249,928 in assets and $1,503,794 in debt.  The
Debtor tapped Will B. Geer, Esq. at Wiggam & Geer, LLC, as its
legal counsel.


ASTRIA HEALTH: PCO Files 1st Interim Report
-------------------------------------------
Susan N. Goodman, RN JD, Patient Care Ombudsman, in the bankruptcy
cases of Astria Health and 12 of its subsidiaries files her first
interim report.

Toppenish Hospital is licensed as a 78-bed facility. It functions,
however, with 8 labor/delivery/postpartum beds; 10 long-term
inpatient behavioral management beds and 2 flex beds allowing short
term admissions that can convert to long term stays if necessary (a
secure unit); 6 voluntary medical withdrawal management beds; 7 ICU
beds; and, 6-8 medical/surgical ("M/S") beds.

Toppenish Hospital added to its clinical offerings with the
creation of the secure, long-term (90-days or more) inpatient
psychiatric and the voluntary medical withdrawal units. The
Facilities Supervisor was reported as covering both Sunnyside and
Toppenish, supported by two facility technicians. PCO did not see
or interact with these individuals and will prioritize doing so
moving forward as well as engaging remotely to understand how
facilities coverage for Sunnyside and Toppenish is shared. Again,
given the number HOCs in addition to the hospitals, PCO's overall
observation is that the facilities/maintenance team is quite busy.


The pharmacy team is made up on one full-time pharmacist (the
department director) and two pharmacy technicians. One technician
was reported as leaving (not bankruptcy related) with potential
candidates appearing available to fill this open position.
Pharmacist coverage is augmented by PRN pharmacists and third-party
vendor remote order checking support.
The department has eight rooms, a triage area, and what is often
referenced as a "fast track" room for patients who are presenting
with relatively minor medical needs. Current disposable supply
concerns were denied. Available linens were noted. Physician and
mid-level provider services are provided through a third-party
contract.

On a clinician level, in addition to the ED providers previously
described, PCO met the midlevel provider in the secure behavioral
health unit. Each reported having the patient care staff and
supplies necessary to provide care.

Ahtanum Ridge Clinic is staffed with one family practice physician
who also provides obstetrical services and a family practice
physician assistant. While this is typically a very busy practice
in terms of average daily visits, both providers happened to be out
of the clinic at the time of PCO's visit (the Physician for a
delivery and the PA for training).

Courier services come twice a day to transport lab samples.
Reference lab services are provided through a third-party vendor
that was reporting as continuing post-bankruptcy. PCO reviewed the
logs associated with waived lab testing, noting best practices and
no current concerns.

Toppenish 4th Ave. Clinic is in a building right next door to the
hospital, on the ED side of the building. The Clinic is staffed
daily with a physician assistant ("PA") who focuses on family
practice and occupational medicine.

Specialists (cardiology, orthopedics, and general surgery) rotate
through on at least a weekly basis and an internal medicine
physician is scheduled weekly. PCO will remain engaged to see that
this is done timely. This clinic is a small space, so one exam room
will be converted to allow a functional space for limited waived
testing.

Zillah Clinic has two full time family medicine physicians and a
family nurse practitioner who splits her time between Zillah and
Sunnyside clinics. A neurosurgeon from the Nova Clinic in Yakima
also has limited office hours here. PCO met with one family
medicine physician during the site visit. The clinic had an x-ray
room, although that equipment was down at the time of PCO's visit
(IT interface issue).

PCO will remain engaged to confirm availability of this supply will
be problematic during the bankruptcy. Of note, clinic management
did report that the clinic disposable supply vendor changed either
prior to or contemporaneous with the bankruptcy. The change makes
the clinic vendor consistent with the vendor now utilized at the
hospitals.

Management reported that historical paper records were stored
through a third-party, off-site record storage vendor in Spokane,
WA. PCO confirmed the continued Spokane location of off-site record
storage because the reported vendor changed ownership in January
2019 and became associated with a national firm.

Thus, the PCO did not find patient care decline or compromise as at
this juncture, contemplating a 60-day visit cycle with remote
follow-up during the interim period. Along with the other
locations, PCO will set up a process to facilitate the remote
sharing and review of Toppenish quality data (including infection
control) between site visits.

A full-text copy of the PCO's Report is available at
https://tinyurl.com/yxeaszuy from PacerMonitor.com at no charge.

                      About Astria Health

Astria Health and its subsidiaries -- https://www.astria.health --
are a nonprofit health care system providing medical services to
patients who generally reside in Yakima County and Benton County,
Wash., through the operation of Sunnyside, Yakima, and Toppenish
hospitals, as well as several health clinics, home health services,
and other healthcare services. Collectively, they have 315 licensed
beds, three active emergency rooms, and a host of medical
specialties. The Debtors have 1,547 regular employees.

Astria Health and 12 of its subsidiaries filed for bankruptcy
protection (Bankr. E.D.Wash, Lead Case No. 19-01189) on May 6,
2019.  In the petitions signed by John Gallagher, president and
CEO, the Debtors estimated assets and liabilities of $100 million
to $500 million.

The Hon. Frank L. Kurtz oversees the cases.

Bush Kornfeld LLP and Dentons US LLP serve as the Debtors' counsel.
Kurtzman Carson Consultants, LLC is the claims and noticing agent.

Gregory Garvin, acting U.S. trustee for Region 18, on May 24, 2019,
appointed seven creditors to serve on an official committee of
unsecured creditors.  The Committee retained Sills Cummis & Gross
P.C. as its legal counsel; Polsinelli PC, as co-counsel; and
Berkeley Research Group, LLC as financial advisor.


AVIS BUDGET: S&P Affirms 'BB' Issuer Credit Rating; Outlook Stable
------------------------------------------------------------------
S&P Global Ratings affirmed Parsippany, N.J.-based Avis Budget
Group Inc.'s the 'BB' issuer credit rating.

The stable outlook reflects S&P's expectation that Avis Budget's
credit metrics will remain consistent over the next year as its
pricing improves modestly and its higher residual values are offset
by elevated interest expense.  S&P expects the company to maintain
EBIT interest coverage in the mid-1x area, funds from operations
(FFO) to debt of about 20%, and debt to capital in the high 90%
area.

S&P revised its assessment of Avis Budget's management and
governance to fair from satisfactory due to the management changes
the company is undergoing. None of S&P's ratings on Avis Budget
were affected by the change in its assessment.

In February, Avis Budget appointed a new Chief Financial Officer,
who joined the company in March. On May 28, the company announced
that its Chief Executive Officer will retire but remain in his
current position until a replacement is found, which has yet to
occur. Therefore, S&P believes it is more appropriate to assess the
company's management and governance as fair until the new
management team is in place and it can determine its operating and
financial strategy.

S&P's ratings on Avis Budget reflect the company's position as one
of the largest global car rental companies and the
price-competitive and cyclical nature of on-airport car rentals.
S&P's ratings also incorporate the relatively stable cash flow that
the company's car rental business generates--even during periods of
earnings weakness--and its substantial capital spending
requirements, which it can quickly reduce if industry or economic
conditions warrant.


AVSC HOLDING: Moody's Rates New $430MM 1st Lien Loan Due 2026 'B2'
------------------------------------------------------------------
Moody's Investors Service assigned a B2 rating to AVSC's Holding
Corp.'s proposed $430 million first lien senior secured term loan
due 2026 in connection with the company's pending acquisition of
Encore Event Technologies, LLC, a leading provider in the
audiovisual and event experiences industry. Concurrently, Moody's
affirmed PSAV's B3 Corporate Family Rating, B3-PD probability of
Default Rating, the B2 ratings on its existing first lien credit
facility, consisting of a $1.255 billion senior secured term loan
due 2025 and a $100 million senior secured revolving credit
facility (to be upsized to $135 million) due 2023, and the Caa2
rating on the company's $210 million second lien senior secured
term loan due 2025. The outlook remains stable.

The company plans to use proceeds from proposed $430 million first
lien term loan, an incremental USD$85 million Canadian term loan
(unrated by Moody's) and other secured debt (approximately $76
million) along with new sponsor equity to finance the acquisition
and pay associated transaction fees and expenses. Encore is being
carved-out from The Freeman Company, a family-owned marketing and
live events company. The transaction is moderately credit negative
because it increases debt and leverage and elevates execution risk
given the size of the target company. On a pro forma basis
(including Encore's EBITDA but excluding anticipated costs savings
and synergies), PSAV's debt-to-EBITDA (Moody's adjusted) is
expected to increase to 6.9 times from 6.6 times for the twelve
months ended June 30, 2019.

Nevertheless, the Encore acquisition is expected to provide
long-term strategic benefits including, increased exposure to
venues with greater production content requirements as well as
improved scale and diversity with approximately $2.7 billion in
combined pro forma annual revenue as of June 30, 2019. Encore has a
strong foothold in the Las Vegas hotel market and meaningful
international operations in Canada, Mexico and Asia Pacific. In
addition, management has identified approximately $25 million in
acquisition synergies expected to be realized within 24 months of
closing. This transaction is significantly larger than the
company's previous deals since the October 2012 acquisition of
Swank AV, however Moody's does not anticipate significant
integration issues since both businesses are complimentary and
management has a good track record of integrating past
acquisitions.

Moody's took the following rating action on AVSC Holding Corp.:

Affirmations:

Issuer: AVSC Holding Corp.

  Corporate Family Rating, Affirmed B3

  Probability of Default Rating, Affirmed B3-PD

  Senior Secured 1st lien Term Loan, Affirmed B2 (LGD3)

  Senior Secured 1st lien Revolving Credit Facility, Affirmed
  B2 (LGD3)

  Senior Secured 2nd lien Term Loan, Affirmed Caa2 (LGD6)

Assignments:

Issuer: AVSC Holding Corp.

  Senior Secured 1st lien Term Loan B, Assigned B2 (LGD3)

Outlook Actions:

Issuer: AVSC Holding Corp.

Outlook, Remains Stable

All ratings are subject to the execution of the transaction as
currently proposed and Moody's review of final documentation. The
instrument ratings are subject to change if the proposed capital
structure is modified.

RATINGS RATIONALE

PSAV's B3 CFR reflects Moody's expectation that the company will
maintain free cash flow-to-gross debt (Moody's adjusted) around
2-3% while debt-to-EBITDA (Moody's adjusted excluding anticipated
acquisition synergies) of approximately 6.9 times as June 30, 2019
and pro forma for the proposed debt-funded acquisition of Encore
will steadily decline towards 6.0 times over the next 12 to 18
months. The company's aggressive financial strategy featuring debt
financed acquisitions and potential cash distributions may slow the
pace of deleveraging. PSAV is considerably larger than its direct
competitors in its core service lines. However, its scope of
service line diversity and concentrated customer base in the U.S.
hotel industry makes it vulnerable to cyclical swings in the level
of business travel. Evolving customer requirements for leading-edge
audio-visual services lead to high and ongoing capital spending
requirements. The rating is supported by Moody's expectations for
continued topline and earnings growth and increasing
diversification of service lines and customers through acquisitions
and new product introductions.

Liquidity is expected to be adequate over the next 12 to 15 months.
The company is expected to generate annual positive free cash flow
of around $50-60 million annually and have some availability under
its upsized $135 million revolver over the next 12-15 months. Free
cash flow is seasonal and typically positive in its fiscal second
and fourth quarters. Access to the revolver is subject to
maintaining a first lien leverage ratio (as defined) of less than
7.5 times, with no future step-downs, when utilization exceeds 35%
of the facility. Should the covenant be triggered there is ample
cushion within the covenant. There are no term loan financial
maintenance covenants.

The stable outlook reflects Moody's expectations for low-to-mid
single digit organic revenue growth, some expansion of the EBITDA
margin from the addition of new services, realization of synergies
and embedded operating leverage in its core markets, slow but
steady deleveraging and maintenance of at least adequate
liquidity.

Moody's could upgrade PSAV's ratings if profitable revenue growth
leads to a material reduction in leverage such that debt-to-EBITDA
(Moody's adjusted) leverage trends towards 5.0 times and free cash
flow to debt is sustained above 5%. PSAV would also need to
maintain sufficient liquidity to manage through periods of cyclical
earnings pressure.

Moody's could downgrade PSAV's ratings if the company fails to
generate meaningful free cash flow, revenues or margins decline,
liquidity weakens for any reason, or adjusted debt-to-EBITDA is
sustained above 7.0 times.

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

AVSC Holding Corp., operating under the brand name PSAV, is a
leading provider in the audiovisual and event experiences industry
delivering creative production, advanced technology and staging to
help its customers deliver more dynamic and impactful experiences
at their meetings, trade shows and special events. PSAV is the
event technology provider of choice at leading hotels, resorts and
convention centers. Its business model is based on long-term
partnerships with these venues, which establish PSAV as the
exclusive on-site provider of event technology services. Following
the August 2018 leveraged buyout, PSAV is majority owned by
affiliates of Blackstone Group, L.P. With the expected acquisition
of competitor Encore, the combined company is projected to generate
2019 pro forma revenues around $2.8 billion.


AVSC HOLDING: S&P Rates New $430MM First-Lien Term Loan 'B-'
------------------------------------------------------------
S&P Global Ratings assigned its 'B-' issue-level rating and '3'
recovery rating to Schiller Park, Ill.-based event technology
services company AVSC Holding Corp.'s (d/b/a PSAV Inc.) proposed
$430 million non-fungible incremental first-lien term loan B due
September 2026. The '3' recovery rating indicates S&P's expectation
for meaningful recovery (50%-70%; rounded estimate: 50%) to lenders
in the event of a payment default.

The company is also upsizing its existing revolving credit facility
maturing in March 2023 to $135 million from $100 million currently,
issuing incremental first-lien Canadian term loan of $85 million
maturing in September 2026 and $76 million new secured debt (both
unrated). The incremental debt does not affect S&P's recovery
ratings on AVSC's existing debt as it continues to estimate that
the holders of the company's secured and guaranteed debt will see
recovery prospects in the 50%-70% range.

The company will use the proceeds from the debt issuance to support
its acquisition of Encore Event Technologies Inc., a global
provider of event technology, staging, and production services. The
transaction is subject to customary regulatory approvals and
management expects it to close in the fourth quarter of 2019.
Additionally, current AVSC shareholders will be investing $197
million of new equity to fund the transaction.

Pro forma for the incremental term loan issuance and acquisition,
S&P expects AVSC's adjusted debt to EBITDA to increase by less than
0.2x as of June 30, 2019. The company's rolling-12-month adjusted
leverage was 6.4x as of June 30, 2019. Its issuer credit rating on
the company remains unchanged because it still forecasts that
S&P-adjusted leverage will be in the 6.5x-7.0x range over the next
12 months. S&P continues to expect AVSC's adjusted free operating
cash flow (FOCF) to debt (excluding one-time nonrecurring costs) to
remain around 3%-4% over the next 12-18 months. In addition, the
acquisition of Encore will provide the company with an expanded
international footprint and better access to the Las Vegas market,
which should allow it to increase the revenue it generates from
large-scale productions and trade show events.

S&P's ratings on AVSC reflect its participation in a niche, highly
competitive, and fragmented segment where it provides audiovisual
services for hotel meetings and conferences. The company's revenue
from this business depends on cyclical business travel. Therefore,
AVSC's operating performance is highly sensitive to group occupancy
rates in luxury and upscale hotels as well as to corporate travel
budgets. The company also faces significant pressure to increase
the commissions it pays to the hotels that host its events. These
risks are somewhat offset by AVSC's leading position providing
audiovisual services to the U.S. hotel industry, and its ongoing
relationships with most of the leading hotel chains through
long-term Master Service Agreements (MSAs) which name PSAV as a
"preferred provider" to venues and establish the economic
relationship across the chain. AVSC generates nearly all its
revenue from contracts averaging 5-6 years with major hotel chains,
and it enjoys a high 98% venue retention rate. Recently, the
company entered into its first ever MSA for the entire US and
Canada Marriott portfolio. While S&P believes the company is still
in the early stages of diversifying its revenue streams, AVSC's
recent transactions, including the moves it has made in the
tradeshow and production markets, have helped it expand further
beyond its legacy hotel-based business and increase its global
footprint.


BCAUSE MINING: WESCO to Get 100% Plus 1% for Deficiency Claim
-------------------------------------------------------------
BCause Mining, LLC, et. al., filed a First Amended Plan of
Reorganization and accompanying Disclosure Statement.

The Plan proposed by the Debtors contemplates payment of 100% to
unsecured creditors, and to pay purported secured creditor WESCO
Distribution, Inc., in full with interest on the allowed amount of
its secured claim, with any deficiency to be treated pari passu
with general unsecured creditors.

Secured Claim of WESCO will be paid in full with interest on the
allowed amount of its secured claim, with any deficiency to be
treated pari passu with general unsecured creditors. WESCO's
secured claim is estimated to be between $600,000 and $800,000,
depending on the outcome of the adversary complaint.

For WESCO Secured Claim, Except to the extent that the Holder of
the Class 1 WESCO Secured Claim agrees to a different treatment,
the Holder of the Allowed Class 1 WESCO Secured Claim shall
receive: (i) a lump sum Cash payment of $400,000 on the Effective
Date, and thereafter (ii) monthly payments from the Debtors' Free
Cash Flow sufficient to satisfy the remaining amount of such
Allowed Class 1 Claim after deducting the amount of the Adequate
Protection Payments. The total payments to the Holder of the WESCO
Secured Claim include interest of LIBOR plus 3.5%, which equal the
Allowed amount of such Claim discounted to present value as of the
Effective Date.

The Holder of the WESCO Secured Claim shall retain its security
interests and Liens in the Debtors' assets with the same validity
and priority as existed on the Petition Dates. Immediately upon
payment in full of the Allowed WESCO Secured Claim, all of WESCO's
Liens and security interests in the Debtors’ assets will be
deemed satisfied, extinguished, released, and discharged in full.

For WESCO Deficiency Claim, except to the extent that the Holder of
the Class 4 WESCO Deficiency Claim agrees to a different treatment,
the Holder of the Allowed WESCO Deficiency Claim shall receive 100%
of its Claim plus 1% interest, equaling the Allowed amount of such
Claim discounted to present value as of the Effective Date, which
shall be paid Pro Rata with the Holders of Class 2 and Class 3
Claims from the Debtors' Free Cash Flow over forty-eight (48)
months. Payments to Holders of Class 4 Claims shall not be entitled
to any distribution from the Debtors’ Free Cash Flow until after
payment in full of the Class 1 Claim.

Except as otherwise ordered by the Bankruptcy Court or as otherwise
provided in the Plan, the Debtors shall file any and all objections
to the allowance of Claims or Interests not already filed on or
within one hundred and twenty (120) days of the Effective Date
unless extended by order of the Bankruptcy Court.

Upon Confirmation of the Plan, the Debtors shall be revested with
their assets, subject only to the terms and conditions of the Plan.
Upon confirmation, pursuant to sections 1123(b)(2)(B) of the
Bankruptcy Code, the Debtors shall retain and shall be vested with
Causes of Action belonging to their respective estates.

A full-text copy of the Amended Disclosure Statement and Plan of
Reorganization is available at https://tinyurl.com/y2m2s4et

Debtor's counsel:

     Scott R. Clar, Esq.
     Crane, Simon, Clar & Dan
     135 S. LaSalle Street, Suite 3705
     Chicago, Illinois 60603
     Tel: 312-641-6777

                     About BCause Mining

Based in Chicago, Illinoi, BCause Mining LLC, and Bcause LLC --
http://www.bcause.com-- builder of full-stack cryptocurrency
ecosystem, filed a voluntary Chapter 11 Petition (Bankr. N.D. Ill.
Case No. 19-10562) on April 11, 2019.  The case is assigned to Hon.
Janet S. Baer.

The Debtor's counsel are Scott R. Clar, Esq., and Jeffrey C. Dan,
Esq., at Crane, Simon, Clar & Dan, in Chicago, Illinois.

At the time of filing, the Debtor's estimated assets and
liabilities are $1 million to $10 million.

The petition was signed by Ann M. Cresce, corporate secretary and
general counsel.


BIOCLINICA HOLDING: S&P Alters Outlook to Stable, Affirms B- ICR
----------------------------------------------------------------
S&P Global Ratings revised its outlook on BioClinica Holding I L.P.
to stable from negative and affirmed its 'B-' issuer credit rating,
its 'B-' issue-level rating on its first-lien term loan, and its
'CCC' issue-level rating on its second-lien term loan.

S&P's revised its outlook on BioClinica to stable to reflect its
forecast for improving EBITDA and cash flows, based on its
stronger-than-expected recent operating performance and solid
bookings, and operational improvements under its new management
team. S&P projects that the company will now be able to more
comfortably cover its fixed charges going forward. The rating
agency projects fully burdened EBITDA of $82 million in 2020, which
compares with its estimate for fixed charges of approximately $75
million (interest expense, debt amortization, maintenance capital
expenditure, and cash tax). The company has also outperformed its
results from the previous year for 11 straight months, which
provides additional visibility into its 2020 revenue.

The stable outlook on BioClinica reflects S&P's expectation that
the company will be able to generate enough EBITDA to cover its
fixed charges going forward as its performance starts to stabilize
under its new management team.

"We could consider lower our rating on BioClinica if it
underperforms, pressuring its ability to cover its fixed charges or
causing us to become concerned about its ability to refinance its
revolver (matures in late 2021). We could also consider lowering
our rating if the company's core imaging business expands much
slower than we expect (we expect 9% annual organic growth) due to
service quality issues," S&P said.

"While unlikely over the next 12 months, we could consider raising
our rating on BioClinica if it sustainably improves its free cash
flow above the $20 million area," the rating agency said.


BRADLEY INVESTMENTS: Agromax, Ping Appointed as Committee Members
-----------------------------------------------------------------
Judge Henry Callaway of the U.S. Bankruptcy Court for the Southern
District of Alabama on Sept. 19 ordered the appointment of Agromax
LLC and Ping Inc. as members of the official committee of unsecured
creditors in Bradley Investments, Inc.'s Chapter 11 case.

The creditors can be reached through:

     (1) Joe Baggett
         Agromax LLC
         P.O. Box 999
         Summerdale, AL 36580
         Tel: (251) 988-1267
         Fax: (866) 722-9150

     (2) Frank Beahm
         Ping Inc.
         P.O. Box 82000
         Phoenix, AZ 85071-2000
         Tel: (602) 687-5370
         Fax: (602) 687-4482

Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

                     About Bradley Investments

Bradley Investments, Inc., which conducts business under the name
Timbercreek Golf Club, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D.  Case No. Ala.) on Aug. 22, 2019.

At the time of the filing, the Debtor disclosed assets of between
$1 million and $10 million and liabilities of the same range.

The case has been assigned to Judge Henry A. Callaway.  The Debtor
is represented by Irvin Grodsky, Esq., at Grodsky and Owens.


BRETHREN HOME: Court Grants Waiver of PCO Appointment
-----------------------------------------------------
The Bankruptcy Court grants Brethren Home of Girard, Illinois's
Motion to Waive Appointment of Patient Care Ombudsman.

The Debtor is an Illinois not-for-profit corporation which no
longer provides skilled care nursing services as its nursing care
facility closed in August, 2018.

The Debtor continues to operate forty-eight (48) apartment units,
twenty-five (25) of which are licensed for use as assisted living
apartments, and twenty-three (23) of which are independent living
apartments.

Before closing its skilled care nursing facility, other than
several residents who returned home, the remaining residents were
transferred to other nursing care facilities along with their
complete medical records and medical histories.

Following the closing of its skilled care nursing facility, all
remaining skilled care resident medical records have been retained
by Debtor. Any patients requesting records have been advised to
make written requests to the Debtor, whereupon it will provide any
necessary records pursuant to the disclosure requirements of the
Health Insurance Portability and Accountability Act of 1996

The last survey in December 2018 found general compliance with the
Assisted Living and Shared Housing Establishment Code. For the
foregoing reasons, there are no patient interests to be protected
by a patient care ombudsman in regard to patient care services or
patient records.

The Debtor's Motion is granted, and no patient care ombudsman shall
be appointed under the specific facts of this case.

              About Brethren Home of Girard, Illinois

Brethren Home of Girard, Illinois --
http://pleasanthillvillage.org/-- owns an independent and assisted
living facility known as Pleasant Hill Residence, which houses 48
apartments.  Brethren Home is a non-profit organization founded in
1905 as a ministry of the Church of the Brethren.

Brethren Home sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. C.D. Ill. Case No. 19-70990) on July 10, 2019.  In the
petition signed by its president, Allen Krall, the Debtor disclosed
assets in the amount of $6,513,700 and debts in the amount of
$4,144,550. The Debtor is represented by R. Stephen Scott, Esq., at
Scott & Scott, P.C. Judge Mary P. Gorman presides over the case.

No official committee of unsecured creditors has been appointed in
the Chapter 11 case of Brethren Home of Girard, Illinois as of Aug.
7, according to a court docket.


BUZZ TEAM: Unsecured Creditors to Get 10% Under Plan
----------------------------------------------------
Buzz Team Marketing LLC, filed a small business Chapter 11 plan and
accompanying disclosure statement.

Class III. GENERAL UNSECURED CLAIMS. The allowed general unsecured
claims shall be paid pro-rata distributions on a quarterly basis,
with total distributions equal to 10% of the claims.

Class IV. CONTINGENT UNSECURED TAX CLAIMS. The Debtor has scheduled
various state's taxing authorities as contingent unsecured tax
claimants. These taxes were incurred by the subentities and not
directly by the Debtor. Accordingly, they are at best unsecured
claims of the Debtor.

Class I: PNC BANK, N.A. PNC has a bifurcated claim by agreement.
The secured
portion of the PNC claim is stipulated to be $300,000 with the
balance of the PNC claims(Claim 6 and Claim 12) to be treated as
unsecured claims1. The Debtor will pay this sum at the rate of five
percent (5%) per annum over a term of sixty (60) months, with
payments of $5661.39 per month, to be made commencing on the first
day of the first month following the effective date.

Class II: ADMINSTRATIVE CONVENIENCE CLASS. The Debtor has provided
for an administrative convenience class pursuant to Section 1122(b)
of the Code. Any unsecured claim in an amount less than $5000, or
any unsecured creditor who elects treatment in this Class, will
receive a dividend representing thirty percent (30%) to be paid in
one lump sum within one year of the effective date of the Plan.

Payments and distributions under the Plan will be funded by the
following: The distribution of cash required under the Plan, from
the continuing operation of the Debtor prior to the Effective Date,
by the reorganization of the Debtor following the Effective Date of
the Plan, from available funds of the Debtor or as may be available
for distribution on or before the Effective Date or, as otherwise
agreed to by Debtor and the holders of Allowed Priority Claims and
Allowed Unsecured Claims.

A full-text copy of the Disclosure Statement dated September 20,
2019, is available at https://tinyurl.com/y6742vsn from
PacerMonitor.com at no charge.

               About Buzz Team Marketing

Buzz Team Marketing LLC, a marketing consultant in Riviera Beach,
Fla., sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. S.D. Fla. Case No. 19-16858) on May 23, 2019.  At the time
of the filing, the Debtor disclosed $128,482 in assets and
$3,086,690 in liabilities.  The case has been assigned to Judge
Mindy A. Mora.  The Debtor tapped Julianne Frank, P.A., as its
legal counsel.


CALAIS REGIONAL: Says Appointment of PCO Not Necessary
------------------------------------------------------
Calais Regional Hospital filed a motion for entry of an order
finding that the appointment of a patient care ombudsman is not
necessary.

CRH operates a 25-bed general medical and surgical hospital located
in Calais, Maine. It was first incorporated in 1917 and moved into
a new facility in 2006. CRH is the largest employer in Calais,
employing over 200 people.

CRH provides the following services, among others, to patients in
its Service Area: (a) emergency services, including an emergency
room open on a 24-hour basis; (b) acute care; (c) laboratory
services; (d) medical imaging services, including CT scanning,
mammography, MRI, ultrasound, and radiology; (e) nuclear stress
testing; (f) general surgery, including colonoscopies, cataract,
and pain management; (g) physical, occupational, and cardiac
therapy; (h) internal medicine; (i) family medicine; (j)
pediatrics; (k) home health; and (l) end of life care.

All of these protocols existed prior to the Petition Date and all
of them will continue to be in place as CRH continues to operate.
CRH seeks a finding by this Court prior to thirty days after the
Petition Date that the appointment of a patient care ombudsman is
not necessary under the specific circumstances of the case. This
bankruptcy case was not caused by any failure by CRH to provide
adequate care, facilities, or services to its patients. There is no
institutional history of patient care issues.

This Court has previously found that a PCO was not necessary for a
similarly situated rural hospital in Maine. In re: Penobscot Valley
Hospital, D.E. 107, 19-10034 (Bankr. D. Me. Feb. 28, 2019) (Fagone,
J)

The vast majority of patient visits to CRH are on an outpatient
basis, and inpatient visits rarely last longer than 96 hours

Therefore, the totality of the circumstances indicates that no PCO
is necessary to provide oversight for patient care. However, given
the processes already in place to protect patients, the appointment
of a PCO would simply be an extra and redundant layer of
administrative oversight and expense that would not help the
patients and would harm creditors of the estate.

Finding that the appointment of a patient care ombudsman is not
necessary under the specific circumstances of this case and,
granting such additional relief as the Court deems proper.

                  About Calais Regional Hospital

Based in Calais, Maine, Calais Regional Hospital, dba Calais
Regional Medical Services (CRMS) Family Medicine --
https://www.calaishospital.org -- which operates as a non-profit
organization offering cardiac rehabilitation, emergency, food and
nutrition, home health, inpatient care unit, laboratory, nursing,
radiology, respiratory care/stress testing, surgery, and social
services, filed a Chapter 11 Petition (Bankr. D. Maine Case No.
19-10486) on September 17, 2019.  The case is assigned to Hon.
Michael A. Fagone.

The Debtor's counsel is Sage M. Friedman, Esq., Andrew Helman,
Esq., Katherine Krakowka, Esq., Kelly McDonald, Esq., at Murray
Plumb & Murray, in Portland, Maine.

At the time of filing, the Debtor had estimated assets and
liabilities of $10 million to $50 million.


CALIFORNIA RESOURCES: Debunks Reports of Restructuring
------------------------------------------------------
California Resources Corporation said in a Form 8-K filed with the
Securities and Exchange Commission that contrary to recent
erroneous reporting, the Company is not considering restructuring
or hiring advisors for this purpose.  

"We regularly meet with investment banks and advisors on ideas to
help us achieve our long-term goal of strengthening our balance
sheet and reducing the absolute levels of our debt.  As discussed
on our earnings calls, we are actively looking at asset sales,
royalty monetizations and other transactions similar to those we
have done in the past to help us delever," it said.

                   About California Resources

California Resources Corporation -- http://www.crc.com/-- is an
oil and natural gas exploration and production company
headquartered in Los Angeles, California.  CRC operates its
resource base exclusively within the State of California, applying
complementary and integrated infrastructure to gather, process and
market its production.

California Resources reported net income attributable to common
stock of $328 million for the year ended Dec. 31, 2018, compared to
a net loss attributable to common stock of $266 million for the
year ended Dec. 31, 2017.  As of June 30, 2019, the Company had
$7.03 billion in total assets, $610 million in total current
liabilities, $5.06 billion in long-term debt, $185 million in
deferred gain and issuance costs, $679 million in other long-term
liabilities, $777 million in redeemable noncontrolling interests,
and a $279 million total deficit.

                           *    *    *

In March 2019, S&P Global Ratings affirmed its 'CCC+' issuer credit
rating on California Resources Corp.  The affirmation reflects
S&P's expectation that CRC will continue to support its liquidity
by balancing its spending with its cash flow, selling non-core
assets, and potential for joint ventures in 2019 as mentioned in
the Company's fourth quarter conference call.

In November 2017, Moody's Investors Service upgraded California
Resources' Corporate Family Rating (CFR) to 'Caa1' from 'Caa2' and
Probability of Default Rating (PDR) to 'Caa1-PD' from 'Caa2-PD'.
Moody's said the upgrade of CRC's CFR to 'Caa1' reflects CRC's
improved liquidity and the likelihood that it will have sufficient
liquidity to support its operations for at least the next two years
at current commodity prices.


CALUMET SPECIALTY: Fitch to Rate New Unsec. Notes 'B-(EXP)'
-----------------------------------------------------------
Fitch Ratings expects to rate the new senior unsecured notes of
Calumet Specialty Products Partners, L.P. (Calumet; NASDAQ: CLMT)
'B-'/'RR4 (EXP)'. In addition, Fitch has affirmed Calumet's
Long-Term Issuer Default Rating (IDR) at 'B-'. Fitch also affirmed
Calumet's senior secured revolving credit facility and FILO
facility at 'BB-'/'RR1' and the existing unsecured notes at
'B-'/'RR4'. The Rating Outlook is Stable.

Calumet has announced the refinancing of its $900 million unsecured
notes due 2021 ($810 million outstanding at June 30, 2019) with a
$100 million ABL draw, $550 million new unsecured notes due 2025,
and open market repurchases with cash on hand. The transaction
resolves the impending 2021 maturity wall and, in Fitch's view,
better positions Calumet to refinance the 2022 and 2023 notes.

The ratings reflect Calumet's stronger credit metrics, including
leverage at or below 5.0x through the forecast, and improved debt
maturity profile. The company has also transitioned to free cash
flow positive, and Fitch forecasts continued FCF generation in its
base case. However, Calumet's fuel products segment is levered to
commodity and refined products prices, and significant maturities
remain in 2022 and 2023. Management's self-help measures have been
credit positive, and although the company faced challenges with the
implementation of its new ERP system, Calumet is moving towards
resolution of these issues, and the ERP system should ultimately
provide long-term benefits to operations.

KEY RATING DRIVERS

Upcoming Maturities Remain: The refinancing of the 2021 notes
improves Calumet's maturity profile, and significantly reduces the
absolute level of debt outstanding. Although over $675 million in
aggregate of unsecured notes come due in 2022 and 2023, Fitch
believes Calumet will be able to address these upcoming maturities
through a combination of new debt issuance and repayment with FCF.

In terms of additional liquidity levers, fuel refinery (Great Falls
or San Antonio) asset sales remain as an option to address the
upcoming maturities; however, refinancing the 2022 and/or the 2023
maturities with secured notes is no longer feasible, due to
springing security provisions and a reduced secured debt basket
under the new 2025 notes indenture. The provision removes risk that
unsecured notes become subordinated, which Fitch believes will
improve refinancing prospects, because all future issuances will
rank equally in right of payment and security.

Leverage High but Improving: Calumet's $900 million unsecured notes
were replaced with only $550 million of new unsecured notes and a
$100 million ABL draw under an borrowing base expansion secured by
the Great Falls refinery, but the borrowing base expansion
amortizes over the next 10 quarters and is thus not a permanent
addition to the capital structure. Fitch views the amortization
favorably, as it links delevering to FCF generation and reduces the
amount of notes to be refinanced. Consequently, Fitch expects
Fitch-calculated leverage between 4.5x-5.0x through 2021. This is
an immense improvement from year-end 2018 and from double digit
leverage metrics in 2016.

The 2022 and 2023 maturities present further opportunity to delever
if they are similarly addressed via a combination of new notes and
repayment in cash. If either or both of these maturities were
retired with proceeds from the divestiture of a fuel products
refinery, Fitch would view the transaction as credit positive to
the extent such asset sales aide in delevering and transitioning
toward a more specialized asset profile.

Positive FCF Generation: Calumet has executed on its plan to
generate more consistent, positive FCF, aided by the divestiture of
volatile businesses in 2017, no distributions, and better working
capital management. Fitch forecasts continued FCF generation
through 2021, to be used to pay down ABL borrowings and accumulate
cash ahead of the 2022 maturity. Over time, the trend toward more
specialized products should help stabilize Calumet's FCF profile
and improve its financial flexibility.

Stable Specialty Products Segment: Fitch views Calumet's specialty
products segment, which the company considers its core business, as
providing stable and predictable cash flows that offset the
volatility of the company's fuel products segment. The segment
benefits from specialized product offerings that provide value to
customers, have relatively strong brand recognition and generally
serve niche end-markets. Consequently, gross profit margins have
remained above 20%. Calumet's long-term strategy is to shift more
of its portfolio towards these more specialized products and away
from its fuel products segment in order reduce its cash flow
variability, which has contributed to the company's pressured
credit profile in the past few years.

Volatility in Fuel Products Remains: Calumet remains levered to
swings in oil prices and crack spreads through its remaining fuel
products facilities. As a result, the company must maintain
availability under its revolving credit facility simply to absorb
quarterly working capital swings. While this risk has lessened with
the shift towards specialty products and wider refining crack
spreads, a return to an unfavorable oil environment approximating
2016, when Calumet generated ($10) million of EBITDA in the fuel
products segment, would likely still exert considerable negative
pressure on Calumet's business profile and its resulting credit
ratings. Gulf Coast refineries are also subject to extreme weather
events.

Despite the volatility, the fuel products segment is an important
source of cash flow for Calumet. IMO 2020, which is expected to
increase demand for diesel fuel as a result of new regulatory
standards, will benefit the fuel product refineries. Although the
WCS-WTI spread has tightened since last year, Calumet continues to
improve profitability by using WCS and Midland-priced crude
feedstocks where possible.

DERIVATION SUMMARY

Calumet's current leverage is higher than TPC Group Inc.
(B-/Stable) or SK Blue Holdings, LP (B/Stable) but is expected to
delever over the forecast period. SK Blue is primarily a specialty
products producer, and although TPC formerly had substantial
commodity price exposure, this has recently been mitigated through
fixed price contracts. The performance of specialty peers is less
reliant on favorable commodity price movements and therefore less
volatile than Calumet's results are. Calumet's stated ideal
operating profile is specialty-focused. Operationally, Calumet's
many refineries and facilities throughout the U.S. provides the
company with more flexibility/optionality than peers like TPC which
only has two manufacturing facilities.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within Its Rating Case for the Issuer

  - Crack spreads and capture rates revert to the historical
    mean, IMO 2020 takes effect;

  - Product volumes exhibit their usual seasonality in 2019 and
    grow in line with GDP thereafter, with the exception of
branded
    specialty products, which realize growth greater than GDP to
    reflect the focus on this segment;

  - Successful implementation of better inventory management
systems
    result in working capital improvement;

  - A portion of the 2022 notes are refinanced, with the remainder
    repaid;

  - No asset sales or distributions during the forecast period.

KEY RECOVERY RATING ASSUMPTIONS

The recovery analysis assumes that Calumet would be reorganized as
a going-concern in bankruptcy rather than liquidated. Fitch has
assumed a 10% administrative claim.

Going-Concern (GC) Approach

Calumet's GC EBITDA assumption of $220 million is a combination of
a $150 million EBITDA for the specialty products segment and a $70
million EBITDA for the fuel products segment.

The segment EBITDA for the specialty segment reflects its
historical margin stability and more specialized products.

The EBITDA estimate for fuel products takes into account the
upcoming tailwinds from IMO 2020 that combined would likely lead to
more favorable post-bankruptcy earnings for the fuel products
segment as compared to 2016, when adverse market conditions lead to
the segment generating negative EBITDA.

An EV multiple of 5.7x EBITDA on a consolidated basis is applied to
the GC EBITDA to calculate a post-reorganization enterprise value.
The choice of this multiple considered the following factors:

Fitch used a multiple of 6.0x for Calumet's specialty segment.
Fitch believes that a highly specialized chemical company, which
Fitch usually defines, all else equal, as a chemical company with
EBITDA margins around 20% or greater, could see a post-bankruptcy
multiple as high as the mid-single digits.

For the fuel products segment, Fitch used a lower multiple of 5.0x.
This reflects the relative uncertainty of the segment's cash flows
due to its commodity price exposure and is within the general 4x to
6x sales multiple refineries have generally realize in an asset
sale. The 5.0x multiple is below the median 6.1x exit multiple for
energy in Fitch's historical bankruptcy case study, and reflects
typically lower multiples for refining versus the broader energy
space.

The senior secured revolver is expected to be drawn at less than
currently available borrowing base due to Fitch's expectation that
this amount would likely reduce as Calumet approaches bankruptcy,
especially since the borrowing base is recalculated monthly and
influenced by commodity prices. Fitch's recovery analysis also
includes Calumet's inventory financing obligations.

The allocation of value in the liability waterfall results in
recovery corresponding to 'RR1' recovery for the first lien ABL and
FILO, which are subject to a working-capital linked borrowing base
and are well collateralized. The Great Falls refinery is
temporarily included in the ABL's expanded borrowing base as well.
The senior unsecured notes have a recovery corresponding to 'RR4'.

RATING SENSITIVITIES

Developments That May, Individually or Collectively, Lead to
Positive Rating Action

  - Successful transition towards specialty products leading to
    more consistency in gross profit margins and an improved FCF
    profile;

  - Debt/EBITDA sustained at or below 4.5x or FFO Adjusted Leverage

    sustained at or below 5.0x.

Developments That May, Individually or Collectively, Lead to
Negative Rating Action

  - Pressured market conditions in the fuel products segment
leading
    to increased volatility in margins, a negative FCF profile,
    and/or a weaker liquidity position;

  - FFO Fixed Charge Coverage sustained below 1.5x.

The sensitivities are reflective of Calumet's current cash flow
profile, which is inclusive of its fuel products segment. Should
the company continue its transition towards a more specialized
asset profile, Fitch would likely adjust its positive and negative
sensitivities accordingly.

LIQUIDITY AND DEBT STRUCTURE

Strengthening Liquidity Position: Calumet should see its liquidity
position strengthen over the forecast horizon due to strong FCF
generation and a revolving credit facility that should remain
undrawn, other than the $100 million discussed. At June 30, 2019,
there was $299.6 available under the revolver's $376.7 million
borrowing base.

Maturity Profile: The revolver matures in February 2023. The
company's senior unsecured notes are due in 2022, 2023, and 2025.

SUMMARY OF FINANCIAL ADJUSTMENTS

Fitch has made no financial statement adjustments that depart
materially from those contained in the published financial
statements of Calumet Specialty Products Partners, L.P.


CALUMET SPECIALTY: Moody's Rates Proposed Notes Due 2025 'Caa1'
---------------------------------------------------------------
Moody's Investors Service assigned a Caa1 rating to Calumet
Specialty Products Partners, L.P.'s proposed notes due 2025. Its
existing ratings are unchanged, including the B3 Corporate Family
Rating, B3-PD Probability of Default Rating, the Caa1 ratings on
the existing senior unsecured notes and the SGL-2 Speculative Grade
Liquidity Rating. The rating outlook is stable.

"The proposed notes will refinance a majority of Calumet's notes
due 2021, improving its debt maturity profile, but leaving its
leverage unchanged," said James Wilkins, Moody's Vice President.

The following summarizes the issuance activity.

Assignments:

Issuer: Calumet Specialty Products Partners, L.P.

  Senior Unsecured Regular Bond/Debenture, Assigned Caa1 (LGD4)

RATINGS RATIONALE

The proposed senior unsecured notes are rated Caa1, the same levels
as its existing three notes issues and one notch below the B3 CFR,
reflecting the notes lower priority claim on assets than borrowings
under the secured revolving credit facility. The new notes rank
pari passu with the existing notes. Calumet's balance sheet debt as
of June 30, 2019 includes the secured ABL revolving credit facility
and three existing unsecured notes issues totaling $1.5 billion.
There were $810 million of notes due 2021 outstanding as of June
30, 2019.

Calumet's B3 CFR reflects its modest scale, elevated leverage and
improving operating performance, but history of inconsistent free
cash flow generation. The company has reduced its leverage (5.1x
Debt to EBITDA and 4.6x Net Debt to EBITDA as of June 30, 2019,
including Moody's analytical adjustments) by retiring debt and open
market purchases of notes (almost $90 million of notes due 2021
purchased in the first half 2019) as well as by growing earnings.
Moody's expects Calumet to further improve profit margins, generate
more consistent positive free cash flow as a result of changes in
its working capital management and further improve its credit
metrics. The company has been restructuring its operations through
implementation of self-help projects, divesting non-core assets,
and spending on opportunistic growth capital projects. The company
benefits from geographic diversity of operations, a diverse
customer base (no customer represents ten percent or more of
revenues) and its numerous specialty products (some of which are
recognized brands) offer exposure to diverse end markets.

The company's Specialty Products segment generates the majority of
earnings (61% of 2018 segment EBITDA) and Fuel Products, which has
more cyclical and seasonal earnings, accounts for the remaining
EBITDA. Calumet is exposed to volatile raw material (crude oil)
costs, which it generally can pass on to specialty products
customers (albeit with a lag), but refining profit margins remain
volatile, even after the company hedges its commodity price
exposures and has access to advantaged feedstocks.

Calumet's SGL-2 Speculative Grade Liquidity rating reflects its
good liquidity profile, supported by availability under the undrawn
ABL revolving credit facility, operating cash flow that should
cover its capital expenditures and cash on hand ($174 million as of
June 30, 2019). The company has inventory financing agreements
related to its two largest refineries that mature in June 2023. The
asset based revolver commitments total $600 million and it had a
borrowing base of $376.7 million as of June 30, 2019, and
availability of $299.6 million, after accounting for outstanding
letters of credit. The revolving credit facility was amended in
September 2019 to expand the borrowing base by up to $99.55
million, but is only effective upon the occurrence of certain
conditions, including the consummation of an offering of $450
million or greater amount of senior unsecured notes (which the
proposed notes issuance will satisfy).

Moody's expects the company will continue to generate positive free
cash flow through 2020, increase its profitability and improve its
leverage. The next debt maturity is the unsecured notes issue due
April 2021 ($810 million as of June 30, 2019), which will largely
be refinanced with the proceeds from the new notes. An additional
$350 million of notes are due in January 2022 and $325 million is
due in 2023. The revolver has one springing financial covenant
which provides that only if availability under the facility falls
below the sum of the FILO loans plus the greater of: (i) 10% of the
Borrowing Base; and (ii) $35 million, the company is required to
maintain a Fixed Charge Coverage Ratio of at least 1.0 to 1.0 as of
the end of each fiscal quarter. The conditions for when the
springing covenant is tested change upon the effectiveness of the
revolver amendment.

The stable rating outlook reflects Moody's expectation that the
company will continue to improve its earnings and lower its
leverage, and will refinance its notes due April 2021 well before
the maturity. The ratings could be upgraded if Calumet consistently
generates positive free cash flow, maintains retained cash flow to
debt above 10% and leverage (debt / EBITDA) below 4x, and
refinances the notes due 2021 and notes due 2022. The ratings could
be downgraded if the company does not refinance its notes due 2021
well before the maturity date, it generates negative free cash
flow, leverage is expected to be above 6x or liquidity declines.

The principal methodology used in this rating was Refining and
Marketing Industry published in November 2016.

Calumet Specialty Products Partners, L.P., headquartered in
Indianapolis, Indiana, is an independent North America producer of
specialty hydrocarbon products, such as lubricants, solvents and
waxes, and fuel products. It is structured as a publicly traded
Master Limited Partnership (MLP). Calumet operates two business
segments: Specialty Products and Fuel Products.


CAROLINA VALUE: Unsecureds to Get Quarterly Payments Over 2 Years
-----------------------------------------------------------------
Carolina Value Village, Inc., filed with the U.S. Bankruptcy Court
for the Western District of North Carolina, Charlotte Division, a
plan of reorganization and accompanying disclosure statement.

Since the Petition Date, the Debtor has continued to experience
financial and operational improvements resulting from initiatives
started in the months preceding the Petition Date. The management
of Debtor has implemented other alterations to improve the
efficiency of the operations of Debtor, which have further lessened
expenses.

Each holder of an Allowed Other Secured Claim shall receive, in
full satisfaction, settlement, discharge, and release of such
Allowed Other Secured Claim payment in full of cash of the due and
unpaid portion.  Each holder of an Allowed Unsecured Continuing
Creditor Claim shall be paid by the Reorganized Debtor in full,
with 5.5% interest in equal quarterly installments over two years,
with the first payment made within 60 days after the effective
date.

A full-text copy of the disclosure statement is available at
https://tinyurl.com/yxns5utz from PacerMonitor.com at no charge.

The Debtor is represented by:

     John R. Miller, Jr., Esq.
     Matthew L. Tomsic, Esq.
     Rayburn Cooper & Durham, P.A.
     1200 Carillon,227 West Trade Street
     Charlotte, North Carolina 28202-1675
     Tel: (704) 334-0891

             About Carolina Value Village, Inc.

Carolina Value Village, Inc. is a family thrift store serving
Charlotte, Greensboro, Kannapolis, Mooresville, and all surrounding
communities.  Carolina Value offers a variety of items, including:
women's clothes, men's clothes, children's clothing, jewelry,
housewares, furniture, collectible, treasures, and more.

Carolina Value Village, Inc. filed a voluntary petition under
Chapter 11 of title 11 of the United States Code (Bankr. W.D.N.C.
Case No. 19-30144) on February 1, 2019. In the petition signed by
Larry Pearson, president, the Debtor estimated $50,000 in assets
and $1 million to $10 million in liabilities. John R. Miller, Jr.,
Esq., at Rayburn Cooper & Durham, P.A. is the Debtor's counsel.


CHICK LUMBER: Gets Interim Approval to Use up to $550K in Cash
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of New Hampshire
authorizes Chick Lumber, Inc., to use cash collateral of up to
$549,690 to pay costs and expenses in the ordinary course of
business through Oct. 4, 2019.

The Court rules that the Debtor may make workmen's compensation and
health insurance payments be included in the budget but not, at
this time, the selective insurance company payment.   

As adequate protection, the Debtor is authorized to (i) pay certain
Record Lienholders pursuant to the budget subject to further Court
provisions, and  (ii) grant to each Record Lienholder a replacement
lien in the Debtor's post-petition property of the same kind and
type as the collateral in which it held valid and enforceable
perfected liens on the Petition Date.  

The Court will convene a further hearing on the Motion on Oct. 2,
2019 at 11 a.m.  Objections must be filed by Sept. 25.

A copy of the Order and the Budget can be accessed for free at:

        http://bankrupt.com/misc/Chick_Lumber_18_Cash_ORD.pdf

                        About Chick Lumber

Chick Lumber, Inc., https://www.chicklumber.com/ -- is a dealer of
lumber, plywood, steel beams, engineered wood, trusses, steel and
asphalt roofing, windows, doors, siding, trim, stair parts, and
finish materials.  The Company also offers drafting & design,
installation, delivery, outside sales, and plan reading &
estimating services.

Chick Lumber sought Chapter 11 protection (Bankr. D.N.H. Case No.
19-11252) on Sept. 9, 2019, in Concord, New Hampshire.  In the
petition signed by Salvatore Massa, president, the Debtor was
estimated to have between $1 million and $10 million in both assets
and liabilities.  Judge Bruce A. Harwood oversees the case.
WILLIAM S. GANNON PLLC is the Debtor's counsel.




CHOICE ONE: U.S. Trustee Unable to Appoint Committee
----------------------------------------------------
The Office of the U.S. Trustee on Sept. 19 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of Choice One Staffing Group,
Inc.

                  About Choice One Staffing Group

Township, Pennsylvania-based Choice One Staffing Group, Inc. --
https://choice1staffing.com -- is a full-service staffing firm that
assists businesses in filling their administrative, light
industrial, technical, medical, and hospitality employment needs.
It works on both the local and national level.

Choice One Staffing Group sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Pa. Case No. 19-21455) on April 9,
2019.  At the time of the filing, the Debtor had estimated assets
of less than $1 million and liabilities of between $1 million and
$10 million.  

The case is assigned to Judge Gregory L. Taddonio.  

The Debtor is represented by Knox McLaughlin Gornall & Sennett,
P.C.


CITI-EQUITY GROUP: Court Junks Al Abdo Suit vs L. Westreich, et al.
-------------------------------------------------------------------
District Judge John G. Koeltl granted the Defendants' motion to
dismiss the case captioned AL ABDO, Plaintiff, v. LESLIE WESTREICH
ET AL., Defendants, No. 17-cv-628 (JGK) (S.D.N.Y.).

The plaintiff, Al Abdo, brings this action against the defendants
-- Leslie Westreich, Citi Manhattan Partners I, and Does 1-20 --
alleging breach of contract, breach of fiduciary duty, fraud, and
unfair competition.

The plaintiff, who was originally represented by counsel, filed the
action in the Los Angeles Superior Court in California in 2016. The
defendants removed the action to federal court, and then succeeded
on a motion to transfer the case to this District. The plaintiff's
attorney withdrew as counsel when the action was transferred to
this District. The plaintiff is now proceeding pro se.

The defendants move to dismiss the complaint under Federal Rule of
Civil Procedure 12(b)(6). The defendants argue that the statute of
limitations has run on all of the plaintiff's claims, and that the
plaintiff has failed to state a plausible claim upon which relief
may be granted. For these reasons, the plaintiff's claims are
time-barred.

With respect to Abdo's breach of contract claim, California Code of
Civil Procedure section 337(1) provides that actions based upon any
written contract must be commenced within four years after the
cause of action accrues. Claims based on contracts that were not
reduced to writing must be brought within two years. Abdo alleges
that there was a contract between Abdo and Westreich, but Abdo does
not allege the substance of that contract or if it was memorialized
in writing. However, even using the longer four-year statute of
limitations, Abdo's claims are time-barred.

Abdo alleges that Westreich breached the alleged contract when
Westreich used information he obtained as Lefkowitz's attorney to
purchase the Columbus Manor Apartments for his own benefit in 1996,
and when he sold the Citi-Manhattan I building in 2006. Because the
alleged breach occurred in 2006 at the latest, the statute of
limitations expired in 2010.

The statute of limitations has also expired for Abdo's claim for
breach of fiduciary duty. Abdo does not specifically allege how
Westreich breached his fiduciary duty. To the extent that Abdo
bases this claim on the loss of his limited partnership interests,
Abdo alleges that Westreich threatened those interests by letter in
1996. Therefore, at the time that Abdo filed his complaint, Abdo
had been aware of this claim for two decades.

Under California law, an action for breach of fiduciary duty is
governed by a residual four-year statute of limitations. Abdo
alleges that Westreich's wrongful conduct occurred in 1996 when
Westreich allegedly threatened the limited partners. Accordingly,
the statute of limitations for this claim expired in 2000.

Under California law, fraud claims are subject to a three-year
limitations period that begins on the date that the plaintiff
discovers the facts constituting the fraud. Cal. Code Civ. P.
sectoin 338(d). Abdo alleges that he became aware of the
defendants' allegedly fraudulent conduct when Westreich sent the
1996 letter that the plaintiff characterizes as a threat.
Accordingly, the statute of limitations for the plaintiff's fraud
claim expired in 1999.

For these reasons, the plaintiff's claims are time-barred, and the
defendants' motion to dismiss is granted. The plaintiff's claims
are dismissed with prejudice. The Court has considered all of the
arguments raised by the parties. To the extent not specifically
addressed, the arguments are either moot or without merit.

A copy of the Court's Memorandum Opinion and Order dated April 15,
2019 is available at https://bit.ly/2kZZvKX from Leagle.com.

Al Abdo, Plaintiff, pro se.

Leslie Westreich, Defendant, represented by Yehuda David Scharf ,
Morrison Cohen, LLP, Jason P. Gottlieb , Morrison Cohen, LLP & Mary
E. Flynn , Morrison Cohen, LLP.

Citi Manhattan Partners I, a California Limited Partnership,
Defendant, represented by Jason P. Gottlieb , Morrison Cohen, LLP.


CLASS A PROPERTIES: Court Dismisses Chapter 11 Bankruptcy Case
--------------------------------------------------------------
Bankruptcy Judge Timothy A. Barnes granted 7030-32 Huntley Road,
LLC's motion to dismiss Class A Properties Five, LLC's chapter 11
bankruptcy case captioned IN RE: CLASS A PROPERTIES FIVE, LLC,
Debtor, Case No. 19bk00432 (Bankr. N.D. Ill.).

Huntley filed a motion to Dismiss Second Chapter 11 Case, or, in
the Alternative, to Modify the Automatic Stay to Permit the
Foreclosure Action to Proceed and to Permit 7030-32 Huntley Road,
LLC to Exercise its Non-Bankruptcy Law Rights and Remedies seeking
dismissal of the Debtor’s bankruptcy case, or, in the
alternative, relief from the automatic stay.

The Debtor, a single-asset real estate enterprise, had previously
filed for chapter 11 bankruptcy relief on March 14, 2018 with the
apparent goal of preventing Huntley, its sole creditor, from
foreclosing on the property commonly located at 7030-32 Huntley
Road, Carpentersville, Illinois 60110 (the "Property"). On June 20,
2018, the court, upon finding the First Case was filed in bad
faith, entered an order dismissing the First Case with prejudice.

Huntley asserts that the Debtor is precluded from filing this case
because the Dismissal Order dismissed the First Case with
prejudice. Huntley further asserts that the Debtor filed the
present case in bad faith under the Tekena factors and that there
is therefore cause to dismiss this case under section 1112(b) of
the Bankruptcy Code. Alternatively, Huntley asserts that there are
grounds to grant Huntley relief from the automatic stay with
respect to the Property.

In response, the Debtor argues that the Dismissal Order does not
preclude the Debtor from filing this case as the most reasonable
interpretation of the Dismissal Order is that it did nothing more
than bar the Debtor from filing another bankruptcy petition for 180
days pursuant to section 109(g) of the Bankruptcy Code. The Debtor
also asserts that it did not file this case in bad faith and
therefore no cause for dismissal exists under section 1112(b).
Further, should this case survive dismissal, the Debtor asserts
that Huntley is not entitled to relief from the stay because there
is equity in the Property pursuant to a recent appraisal.

Upon review of the parties' respective filings and after conducting
a hearing on the matter, the court finds that the Dismissal Order
operated to permanently enjoin the Debtor from filing a subsequent
petition for relief and thus the Debtor was precluded from filing
this bankruptcy case. As a result, the court determines that
dismissal of this case is proper. Under the terms of the Dismissal
Order, the Debtor remains barred from filing another bankruptcy
case with respect to Huntley's debt.

A copy of the Court's Memorandum Decision dated April 15, 2019 is
available at https://bit.ly/2muaIUt from Leagle.com.

Attorneys for 7030-32 Huntley Road, LLC: Lauren E. Dreifus and Max
A. Stein , Boodell & Domanskis, LLC, Chicago, IL.

Attorney for Class A Properties Five, LLC: William S. Ryan ,
William S. Ryan — Attorney at Law PC, Franklin Park, IL.

             About Class A Properties

Based in Chicago, Illinois, Class A Properties Five, LLC filed as a
Single Asset Real Estate (as defined in 11 U.S.C. Section
101(51B)).  The Company is the fee simple owner of a property
located at 7030 Huntley Rd, Carpentersville, IL 60110-3619 valued
by the Company at $5.25 million.  The Company previously sought
bankruptcy protection on March 14, 2018 (Bankr. N.D. Ill. Case No.
18-07311).

The company again filed for bankruptcy protection (Bankr. N.D. Ill.
Case No. 19-00432) on January 7, 2019, with total assets of
$5,251,500 and total liabilities of $2,742,336. The petition was
signed by Jorge R. Rojas, manager


COHU INC: Moody's Lowers CFR to B2 & Alters Outlook to Negative
---------------------------------------------------------------
Moody's Investors Service downgraded Cohu, Inc.'s ratings,
including the Corporate Family Rating to B2 from B1, Probability of
Default Rating to B2-PD from B1-PD, and senior secured term loan
rating to B2 from B1. The Speculative Grade Liquidity rating is
unchanged at SGL-2. The rating outlook was changed to negative from
stable.

RATINGS RATIONALE

The downgrade of the CFR reflects weaker than expected financial
performance, due primarily to a much deeper than anticipated
industry demand cycle, which Moody's expects will continue over the
near term. Moody's expects revenues and EBITDA margin to remain
weak, and for financial leverage to remain very high, over the next
12 months. The downgrade also reflects Moody's expectation that
Cohu will continue to consume cash for at least the remainder of
2019, reducing liquidity.

Downgrades:

Cohu, Inc.

  Corporate Family Rating, downgraded to B2 from B1

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

  Senior Secured Term Loan B, downgraded to B2 (LGD3)
  from B1 (LGD3)

Unchanged:

Issuer: Cohu, Inc.

  Speculative Grade Liquidity Rating, SGL-2

Outlook Actions:

Cohu, Inc.

  The outlook was changed to negative from stable

The B2 CFR reflects Cohu's very high financial leverage, with debt
to EBITDA exceeding 10x (latest twelve months ended June 29, 2019,
Moody's adjusted), resulting from depressed revenues and EBITDA as
end market demand remains weak. Due to lower-than-expected EBITDA,
cash restructuring costs, capital spending, the dividend, and the
interest burden from the debt, Cohu has consumed cash over the past
six months. Moody's expects free cash flow ("FCF") generation will
remain negative to flat over the near term, given weakness in the
automotive, industrial, and smartphone end markets, which
collectively account for nearly two-thirds of Cohu's revenue base.
Moody's expects that any recovery in these markets in 2020 will be
modest.

The credit profile is supported by Cohu's cash balance ($143
million as of June 29, 2019), which should support near term cash
consumption until end market demand recovers in 2020. This cash
balance provides key support to the B2 CFR, given the
highly-cyclical end market demand and resulting volatility of
Cohu's revenues, EBITDA, and FCF. Cohu also benefits from a base of
recurring revenues, accounting for over half of Cohu's revenue base
and limited capital spending requirements, which limits cash
consumption during periods of lower demand.

Given the volatility of revenues and FCF, Moody's expects that
Cohu's financial policy will remain conservative. Moody's expects
that Cohu will refrain from material share repurchases, instead
using FCF to replenish the cash balance and to reduce debt, until
FCF to debt (Moody's adjusted) is sustained above 5%.

The B2 rating on the Term Loan reflects the collateral, comprised
of a first priority lien on the company's assets, and modest
cushion of unsecured liabilities.

Cohu's SGL-2 speculative grade liquidity ("SGL") rating reflects
Cohu's good liquidity profile. Although Cohu does not maintain
access to a revolving credit facility, Moody's expects that Cohu's
near term cash consumption will be modest, and that Cohu will
generate at least $10 million of FCF in 2020. Given the weak FCF
generation and high leverage, Moody's expects that Cohu will limit
share repurchases over the next year. Moody's expects that Cohu
will maintain at least $100 million of cash on the balance sheet.
The Term Loan is not governed by financial maintenance covenants.

The negative outlook reflects Moody's expectation that Cohu will
consume cash for at least the remainder of 2019, and Moody's
expects that a recovery in end market demand in 2020 will be
modest, lifting revenues to about $600 million. With this low base
of revenues, Moody's expects that leverage will remain very high,
with debt to EBITDA (Moody's adjusted) exceeding 8x and FCF to debt
(Moody's adjusted) at the low to mid single digits percent level.

The rating outlook could be stabilized if Cohu returns to growth,
with annual revenues and FCF exceeding $650 million and $25 million
(Moody's adjusted), respectively. Given the negative outlook, a
rating upgrade is unlikely over the next year. Over the
intermediate term, the rating could be upgraded if revenues exceed
$800 million and FCF to debt (Moody's adjusted) is sustained over
10%. The rating could be downgraded if Cohu continues to consume
cash or if the cash balance drops below $100 million.

The principal methodology used in these ratings was the
Semiconductor Industry published in July 2018.

Cohu, Inc., based in Poway, California, makes test automation
equipment used in the final stages of production of semiconductor
devices and printed circuit boards. Products include handlers,
micro-electro mechanical system test modules, test contactors and
thermal subsystems.


COLLEGIUM CHARTER SCHOOL, PA: S&P Cuts Revenue Debt Rating to 'BB'
------------------------------------------------------------------
S&P Global Ratings lowered its rating to 'BB' from 'BB+' on Chester
County Industrial Development Authority, Pa.'s revenue debt, issued
for Collegium Charter School (CCS). The outlook is stable.

"The downgrade reflects our view of the school's negative
operations in fiscal year 2018, although we expect operations to
stabilize according to fiscal 2019 unaudited results and materially
diminished liquidity position compared with that of similarly rated
peers," said S&P Global Ratings credit analyst Beatriz Peguero.
Management indicates that the school will continue to use reserves
to complete the Performance Arts center project, which it expects
to complete in 2022. Therefore, S&P expects it will take some time
for the school to increase liquidity to above current levels.

"We assessed CCS' enterprise profile as adequate, reflecting its
sufficient demand with steady enrollment growth and exceptional
graduation rate. However, there is continued management-transition
risk, because the school's business manager has only been in place
for a year and the CEO was replaced in December 2018. We assessed
CCS' financial profile as vulnerable, weakening maximum annual debt
service (MADS) coverage below 1x as of fiscal year-end 2018,
decreasing days cash on hand and moderately high debt. Somewhat
offsetting this, is our expectation of CCS' improved operations in
fiscal 2019 that should result in MADS coverage returning to levels
above 1x. Combined, we believe these credit factors lead to an
indicative stand-alone credit profile of 'bb'," S&P said.

"The stable outlook reflects our view that the school's demand
profile will remain solid as evidenced by continued growth. We also
expect operations to demonstrate moderate improvement based on
fiscal 2019 projected results and the fiscal 2020 budget. The
outlook also reflects our view that CCS' liquidity levels will not
deteriorate to levels inconsistent with the rating level over our
one-year outlook horizon," the rating agency said.


CONSOLIDATED MFG: Sale of 2012 Chevy Pickup Approved
----------------------------------------------------
Judge Cathleen D. Parker of the U.S. Bankruptcy Court for the
District of Wyoming authorized Consolidated Manufacturing
Enterprises, Inc.'s sale outside the ordinary course of business of
its white 2012 Chevy pickup, VIN 1GCRPE70CZ252217.

           About Consolidated Manufacturing Enterprises

Founded in 2002, Consolidated Manufacturing Enterprises, Inc. --
http://www.cmewy.com/-- offers welding, fabrication, oilfield and
pipeline services to a variety of industrial, commercial, small and
large businesses and individuals.  It is headquartered in
Wheatland, Wyoming.

Consolidated Manufacturing Enterprises sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D. Wyo. Case No.
18-20347) on April 30, 2018.  In the petition signed by Elias J.
Stone, president, the Debtor disclosed $3.11 million in assets and
$1.93 million in liabilities.  Judge Cathleen D. Parker oversees
the case.  The Law Offices of Ken McCartney, P.C., is the Debtor's
legal counsel.



CONSOLIDATED MFG: Sale of Drug Testing Equipment Approved
---------------------------------------------------------
Judge Cathleen D. Parker of the U.S. Bankruptcy Court for the
District of Wyoming authorized Consolidated Manufacturing
Enterprises, Inc.'s sale outside the ordinary course of business of
its drug testing equipment.

           About Consolidated Manufacturing Enterprises

Founded in 2002, Consolidated Manufacturing Enterprises, Inc. --
http://www.cmewy.com/-- offers welding, fabrication, oilfield and
pipeline services to a variety of industrial, commercial, small and
large businesses and individuals.  It is headquartered in
Wheatland, Wyoming.

Consolidated Manufacturing Enterprises sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D. Wyo. Case No.
18-20347) on April 30, 2018.  In the petition signed by Elias J.
Stone, president, the Debtor disclosed $3.11 million in assets and
$1.93 million in liabilities.  Judge Cathleen D. Parker oversees
the case.  The Law Offices of Ken McCartney, P.C., is the Debtor's
legal counsel.


CONSOLIDATED MFG: Sale of Embroidery Equipment Approved
-------------------------------------------------------
Judge Cathleen D. Parker of the U.S. Bankruptcy Court for the
District of Wyoming authorized Consolidated Manufacturing
Enterprises, Inc.'s sale outside the ordinary course of business of
its the embroidery equipment.

           About Consolidated Manufacturing Enterprises

Founded in 2002, Consolidated Manufacturing Enterprises, Inc. --
http://www.cmewy.com/-- offers welding, fabrication, oilfield and
pipeline services to a variety of industrial, commercial, small and
large businesses and individuals.  It is headquartered in
Wheatland, Wyoming.

Consolidated Manufacturing Enterprises sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D. Wyo. Case No.
18-20347) on April 30, 2018.  In the petition signed by Elias J.
Stone, president, the Debtor disclosed $3.11 million in assets and
$1.93 million in liabilities.  Judge Cathleen D. Parker oversees
the case.  The Law Offices of Ken McCartney, P.C., is the Debtor's
legal counsel.


CONTINENTAL CAST: May Continue Using Central Bank’s Cash Collateral
---------------------------------------------------------------------
Judge Robert D. Berger of the U.S. Bankruptcy Court for the
District of Kansas approves the request of Continental Cast Stone,
LLC to continue using cash collateral to carry on its business.

Central Bank is granted a first priority lien and security interest
in each of the Debtor's  estates arising after the Petition Date,
subject only to the lien of Zinkle Holdings, LLC of up to $75,000.
Central Bank is also granted a super-priority administrative
expense to the extent of the decrease in value of Central Bank's
interest in the collateral.  The Debtor owes Central Bank at least
$4,669,002 as of the Petition Date.  

Moreover, the Debtor will pay Central Bank, on a monthly basis,
$679.72 per diem interest, on the first day of each month beginning
Oct. 1, 2019 and continuing on the first of each month thereafter
so long as this Order is in effect.  The Oct. 1, 2019 adequate
protection payment will be for the period from Sept. 5 through
Sept. 30, 2019.

A copy of the Order is available for free at:

        http://bankrupt.com/misc/Continental_Cast_64_Cash_ORd.pdf

                    About Continental Cast Stone

Continental Cast Stone, LLC -- http://www.continentalcaststone.com/
-- doing business as CCSM Acquisition LLC was established in 1986.
It is a manufacturer of cast stone and has offices in Kansas, South
Carolina, Chicago, and California.  

Continental Cast filed a Chapter 11 bankruptcy petition (Bankr. D.
Kan. Case No. 19-21752) on Aug. 20, 2019.  In the petition signed
by Bryan Hinkle, member, the Debtor estimated assets and
liabilities at $1 million to $10 million.  MANN CONROY, LLC, is the
Debtor's counsel.



CSC HOLDINGS: S&P Rates New $1.5BB Secured Term Loan Due 2027 'BB'
------------------------------------------------------------------
S&P Global Ratings assigned its 'BB' issue-level rating and '2'
recovery rating to New York City-based cable provider CSC Holdings
LLC's proposed $1.5 billion secured term loan due 2027. The '2'
recovery rating indicates S&P's expectation for substantial
recovery (70%-90%; rounded estimate: 70%) for lenders in a default
scenario.

S&P said, "We anticipate that the company will use the proceeds
from this loan to repay a similar amount of its outstanding debt,
including its $1 billion term loan B-4 due 2027 and the $500
million of holding company notes due 2020 issued by Cablevision
Systems Corp. While this will modestly increase the company's level
of secured claims at default, our '2' recovery rating on its debt
remains unchanged. Our 'B' issue-level rating and '6' recovery
rating on CSC Holdings LLC's unsecured debt are also unaffected by
this refinancing."

The company also announced plans to assume all of Cablevision
System Corp.'s rights and obligations under the Cablevision 2022
senior notes and the Cablevision notes indenture. If this takes
place, the Cablevision 2022 notes will be senior unsecured
obligations of the issuer and will not benefit from any guarantees.
The 2022 notes will rank equally in right of payment with all of
CSC Holdings LLC's existing unsecured debt and will be structurally
subordinated to the guaranteed notes. Therefore, S&P's issue-level
ratings would be unaffected by this transaction because there is
only negligible value flowing to unsecured creditors in its
recovery analysis.

S&P said, "Our 'BB-' issuer credit rating on CSC is unchanged
because this is a leverage-neutral transaction. Our stable outlook
continues to incorporate our expectation for deleveraging in the
coming months such that the company's S&P Global Ratings-adjusted
leverage will approach 5.0x by the end of 2019 from 5.6x for the 12
months ended June 30, 2019. We expect this improvement to come from
continued EBITDA growth on rising demand for high-margin broadband
and an increase in the company's free operating cash flow. We also
expect management to be disciplined in its approach to share
repurchases, which were elevated in the first half of the year,
such that CSC's company-calculated annualized leverage is below 5x
as of year-end 2019, down from 5.3x for the past two quarters ended
June 30, 2019."


CSI-ABSOLUTE: Unsecured Creditors to Recoup 1% Under Plan
---------------------------------------------------------
CSI-Absolute Clean, Inc., filed a small business Chapter 11 plan
and accompanying disclosure statement.

Class 2: Secured claim of Department of the Treasury are impaired
with a total claim of $43,266.56. Monthly payment $826.43. Payments
start Month 1 and payments end Month 36.

Class 3: Secured claim of FC Marketplace are impaired with a total
claim of $75,674.36. No payment.

Class 5: General Unsecured Class are impaired with a total claim of
$153,339.24. Monthly payment $1,534.00. Payments start Month 1 and
payments end Month 1.  Estimated percent of
claim paid is 1%.

Class 6: General Unsecured Creditors not filing a proof of claim on
or before August 19, 2019 are impaired. The Debtor shall receive a
discharge from this Class upon confirmation of the Plan.

Payments and distributions under the Plan will be funded by its
monthly cash flow.

A full-text copy of the Disclosure Statement dated September 20,
2019, is available at https://tinyurl.com/yyodag7u from
PacerMonitor.com at no charge.

                   About CSI-Absolute Clean

CSI-Absolute Clean, Inc., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ill. Case No. 19-04406) on Feb. 19,
2019.  At the time of the filing, the Debtor estimated assets of
less than $500,000 and liabilities of less than $500,000.  The case
is assigned to Judge Deborah L. Thorne.  Schneider & Stone is the
Debtor's counsel.


DELIVER BUYER: S&P Cuts ICR to B- on Weak Performance; Outlook Neg.
-------------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on
Kentucky-based Deliver Buyer Inc. to 'B-' from 'B'.

At the same time, S&P is lowering its issue-level rating on the
company's first-lien credit facility to 'B-' from 'B'. Its '3'
recovery rating on the facility remains unchanged.

The downgrade reflects Deliver Buyer's weaker-than-expected
operating performance in the first half of 2019, which caused its
revenue to decline by 15.3% relative to management's plan. The
company's weak performance also increased its S&P-adjusted leverage
to the high-7x area, which is above S&P's previous 7.5x downgrade
threshold. Although the company had only drawn $40 million on its
$155 million revolving credit facility, the reduction of its
headroom under the springing leverage covenant to the low single
digit percent area reduced the total amount available for borrowing
to $14.25 million as of June 30, 2019.

The negative outlook reflects Deliver Buyer's narrow covenant
cushion, modest liquidity profile, and the risk that additional
project delays will lead to poor cash conversion of the company's
healthy project backlog or further weakening of its modest
liquidity profile over the next 6-12 months. Under S&P's base-case
forecast, it expects reported FOCF deficits of about $5 million-$10
million in 2019 and anticipate the company will improve its
liquidity position such that it will maintain at least $40 million
of excess liquidity.

"We could lower our rating on Deliver Buyer if the weakness in its
operating performance persists, its covenant headroom remains below
10%, its available liquidity remains below $40 million, or if we
forecast a payment default or persistent cash flow deficit that
leads us to view its capital structure as unsustainable," S&P
said.

"We could revise our outlook on Deliver Buyer to stable if it
successfully executes its operating plan with minimal further
project-timeline challenges such that its covenant headroom
persistently exceeds 15%, its EBITDA margins stabilize and improve,
and we expect its FOCF-to-debt ratio to increase to the low- to
mid-single digit percent area," the rating agency said.


DENTAL CARE: A.M. Best Lowers Financial Strength Rating to B(Fair)
------------------------------------------------------------------
AM Best has downgraded the Financial Strength Rating to B (Fair)
from B+ (Good) and the Long-Term Issuer Credit Rating to "bb" from
"bbb-" of Dental Care Plus, Inc. (Dental Care Plus) (Cincinnati,
OH). In addition, AM Best has maintained the under review with
developing implications status for the Credit Ratings (ratings).
Concurrently, AM Best has withdrawn the ratings of Dental Care Plus
at the company's request to no longer participate in AM Best's
interactive rating process.

The ratings reflect Dental Care Plus's balance sheet strength,
which AM Best categorizes as weak, as well as its adequate
operating performance, limited business profile and appropriate
enterprise risk management.

AM Best placed the ratings under review with developing
implications in March 2019, following the announcement that
DentaQuest, LLC and DCP Holding Company, the parent company of
Dental Care Plus, had entered into a definitive merger agreement.
The transaction has since closed; however, the rating downgrades
are based on large drop in capital at Dental Care Plus, following
the withdrawal of $5.5 million in capital in the form of a dividend
paid to DCP Holding Company for distribution to its shareholders at
the time of the transaction's close. This has resulted in a
significant decline in Dental Care Plus' risk-adjusted capital,
which AM Best has assessed as very weak, as measured by Best's
Capital Adequacy Ratio. The under review with developing
implications status is based upon AM Best's uncertainty of the
relationship between Dental Care Plus and its new ultimate parent,
DentaQuest, LLC.  



DEPENDABLE BUILDING: Taps Joel A. Schechter as Legal Counsel
------------------------------------------------------------
Dependable Building Services, Inc., received approval from the U.S.
Bankruptcy Court for the Northern District of Illinois to hire the
Law Offices of Joel A. Schechter as its legal counsel.

The firm will provide services in connection with the Debtor's
Chapter 11 case, which include legal advice regarding its powers
and duties under the Bankruptcy Code, negotiations with its
creditors and the preparation of a bankruptcy plan.

Joel Schechter, Esq., the firm's attorney who will be handling the
case, charges an hourly fee of $500.  The retainer fee is $15,000.

Mr. Schechter disclosed in court filings that he is "disinterested"
within the meaning of Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Joel A. Schechter, Esq.
     Law Offices of Joel A. Schechter
     53 W. Jackson Blvd., Suite 1522
     Chicago, IL 60604
     Tel: 312 332-0267
     Fax: 312 939-4714
     Email: joelschechter1953@gmail.com

                 About Dependable Building Services

Founded in 1992, Dependable Building Services, Inc. --
http://www.dependablebuildingservices.com/-- is a commercial
contractor that performs HVAC, electrical, fire suppression, and
generator service and construction.  It serves commercial, retail,
industrial and telecom industries.  

Dependable Building Services previously filed a Chapter 11 petition
(Bankr. N.D. Ill. Case No. 17-24129) on Aug. 11, 2017.

Dependable Building Services again sought protection under Chapter
11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 19-19772) on
July 15, 2019.  At the time of the filing, the Debtor was estimated
to have assets of between $100,000 and $500,000 and liabilities of
between $1 million and $10 million.  The case is assigned to Judge
Deborah L. Thorne.  The Law Offices of Joel A. Schechter is the
Debtor's counsel.



DIAMONDBACK ENERGY: Moody's Alters Outlook on Ba1 CFR to Positive
-----------------------------------------------------------------
Moody's Investors Service changed Diamondback Energy, Inc.'s rating
outlook to positive from stable, and simultaneously affirmed the
company's Ba1 Corporate Family Rating, Ba1-PD Probability of
Default Rating, and Ba2 senior unsecured notes. The SGL-2
Speculative Grade Liquidity Rating remained unchanged.

"The positive outlook acknowledges Diamondback's significant
production, reserves and free cash flow growth visibility through
2021 even in a sub $50/bbl oil price environment," noted Sajjad
Alam, Moody's Senior Analyst. "Diamondback's enhanced scale and
diversification across the Permian Basin, improving price
realizations due to better access to midstream infrastructure and
ongoing cost reduction and integration efforts should help build a
more flexible and sustainable production platform going forward."

Issuer: Diamondback Energy, Inc.

Outlook Actions:

Changed to Positive from Stable

Ratings Affirmed:

Corporate Family Rating, Affirmed Ba1

Probability of Default Rating, Affirmed Ba1-PD

Senior Unsecured Notes, Affirmed Ba2 (LGD5)

Ratings Unchanged:

Speculative Grade Liquidity Rating, SGL-2

RATINGS RATIONALE

Diamondback's Ba1 CFR is supported by its significant production
and reserves in the prolific Permian Basin; low cost and
oil-weighted assets that generate peer leading cash margins; a
large drilling inventory following the acquisition of Energen
Corporation in 2018 that has enhanced portfolio durability and the
ability to deliver strong organic growth; low and improving
financial leverage; and a history of conservative financial
policies, including significant equity issuances during
acquisitions. The rating also considers Diamondback's significant
ownership interest in Viper Energy Partners LP (VEP, 54% owned) and
Rattler Midstream LP (Rattler, 71% owned) that had a combined
market capitalization of $7 billion as of September 16, 2019. The
CFR is restrained by Diamondback's singular geographic focus in the
Permian Basin and the attendant event risks, significant
undeveloped reserves and acreage, organizational complexity, a
history of numerous acquisitions resulting in inconsistent F&D
costs, and its aggressive growth plans that will require
substantial ongoing capital investments.

Diamondback's ratings could be upgraded if the company consistently
grows in a capital efficient manner, further reduces leverage, and
delivers recurring free cash flow. Specifically, if the company can
sustain the leveraged full-cycle ratio (LFCR) above 2x, lower
debt/PD reserves near $6/boe, and keep the RCF/debt ratio above 50%
even in a weak price environment, an upgrade could be considered.
While a negative rating action is improbable through 2020, ratings
could come under pressure if Diamondback significantly outspends
operating cash flow, experiences a sharp decline in capital
productivity, or debt funds dividends or share repurchases. More
specifically, if the RCF/debt ratio falls below 35% or the LFCR
falls below 1.5x, a downgrade is possible.

Diamondback has good liquidity, which is reflected in the SGL-2
rating. The company is competitively positioned to generate
significant free cash flow in 2020 after meeting its growth,
capital expenditure and dividend payment objectives. Moody's
expects Diamondback to manage share repurchases prudently and
adjust actual buyback amounts based on available free cash flow.
The company had $326 million in cash and $861 million in available
borrowing capacity under a $2.5 billion committed revolving credit
facility as of June 30, 2019. The company will likely reduce the
outstanding revolver balance with free cash flow and by issuing
long term debt over time. The revolver borrowing base was set at
$3.4 billion in June 2019, excluding the acquired reserves from
Energen Corporation, which reflects substantial incremental
borrowing capacity. Diamondback has the ability to raise
alternative liquidity by monetizing its equity interests in Rattler
and VEP, as well as its inventory of non-core undeveloped leasehold
acreage.

Diamondback's senior unsecured notes are rated Ba2, one notch below
the Ba1 CFR given the significant size of the secured revolving
credit facility relative to the total amount of outstanding senior
unsecured notes. The revolver is secured by its first-lien claim to
substantially all of Diamondback's assets. The company has amended
its credit agreement that will allow the revolver to become
unsecured if Diamondback's unsecured notes were upgraded to
investment grade by two rating agencies.

Diamondback Energy, Inc. is an independent exploration and
production company with all of its assets in the Midland and
Delaware Basins in West Texas.

The principal methodology used in these ratings was Independent
Exploration and Production Industry published in May 2017.


DIAZ & STOLITZA: U.S. Trustee Unable to Appoint Committee
---------------------------------------------------------
The Office of the U.S. Trustee on Sept. 19 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of Diaz & Stolitza Properties
LLC.

                 About Diaz & Stolitza Properties

Diaz & Stolitza Properties LLC sought protection under Chapter 11
of the Bankruptcy Code (Bankr. W.D. Pa. Case No. 19-70455) on July
25, 2019.  At the time of the filing, the Debtor had estimated
assets of less than $50,000 and liabilities of less than $50,000.
The case has been assigned to Judge Jeffery A. Deller.  The Debtor
is represented by Willis & Associates.


DIGITAL REALTY: S&P Affirms 'BB+' Preferred Stock Rating
--------------------------------------------------------
S&P Global Ratings affirmed the 'BBB' issuer credit rating on
Digital Realty Trust, Inc., the issue-level ratings and the 'BB+'
preferred stock rating.

The rating actions follow the company's recently announced asset
sales and a joint venture (JV) with Mapletree Investments Pte Ltd.,
generating $1.4 billion in gross proceeds that will ultimately be
used to fund future development.

Digital's recently announced asset sales and JV highlight the
ongoing need for external capital to fund the company's significant
growth strategy that overshadows any meaningful improvement to
credit metrics over the next two years. Digital is the largest
owner of data centers globally and is still expanding rapidly.
Digital has successfully executed sizable acquisitions each year
for the past few years, both domestically and internationally,
which S&P believes have been consistent with the company's growth
strategy, and aim to expand its footprint globally. S&P believes
favorable long-term secular industry growth prospects, Digital's
solid market position, and complementary product offerings that
cater to large enterprises, should allow the company to continue
generating strong cash flow growth. However, S&P no longer believes
its forecasted credit protection measures will improve
significantly because the company is focused on growth and
extending its forward equity contract, which is now projected to
settle before the end of September 2020 with proceeds earmarked for
future development.

"The stable outlook reflects our view that Digital will continue to
benefit from strong fundamentals driving demand for data center
space. We forecast Digital will maintain debt to EBITDA in the low-
to mid-6x area over the next few years," S&P said.

"We could raise the rating if Digital's revenue mix of scale,
colocation, and hybrid offerings improve occupancy rates and rent
spreads, such that NOI growth outperforms similarly rated peers. At
the same time, we would raise the rating if Digital maintains debt
to EBITDA in the mid-5x area. At this point we don't expect debt
leverage to reach the mid 5x range, our upgrade trigger, in the
next 1 to 2 years given the significant development spend and
funding needs, which we expect to be partly funded with debt," S&P
said.

"While highly unlikely over the next two years, we could lower the
rating if Digital 's colocation segment becomes a larger part of
the revenue mix such that it drags down occupancy or if rent
spreads compress further, constraining NOI growth on a sustained
basis. We could also lower the rating if Digital pursues
debt-financed acquisitions that result in continued elevated credit
metrics, with debt to EBITDA remaining above 7.5x for a sustained
period," the rating agency said.


DPW HOLDINGS: Amends $1.49 Million Convertible Promissory Note
--------------------------------------------------------------
DPW Holdings, Inc., filed with the Securities and Exchange
Commission an amendment No. 1 on Form 8-K/A which amends the
Current Report on Form 8-K of the Company originally filed with the
SEC on July 5, 2019.  Its purpose is to amend the convertible
promissory note in the aggregate principal face amount of
$1,492,000.

The Company previously entered into a securities purchase agreement
dated March 23, 2018, with an institutional investor providing for
the issuance of (i) a 12% Note in the principal amount of
$1,000,000 at a 10% original issue discount and (ii) a five-year
warrant to purchase up to 15,000 shares of the Company's common
stock, par value $0.001 per share at an exercise price of $23.00,
as adjusted to give effect to the Company's reverse stock split on
March 14, 2019.

On July 3, 2019, the Company and the Investor entered into an
Exchange Agreement, pursuant to which, in exchange for the Original
Note, the Company will issue a Convertible Promissory Note in the
principal face amount of $1,292,000 plus a default premium of
$200,000, for an aggregate of $1,492,000, subject to adjustments,
and (ii) a five-year warrant to purchase of 1,000,000 shares of
Common Stock, subject to adjustments, at an exercise price of $0.22
per share, subject to the approval thereof by the NYSE American.

             Description of Convertible Promissory Note

The New Note is in the aggregate principal amount of $1,492,000 and
bears interest at 12% per annum, which principal and all accrued
and unpaid interest are due on Jan. 22, 2020, or upon acceleration,
prepayment or otherwise in accordance with the terms of the New
Note, and which interest will be payable in cash, in arrears, on
the first business day of each month, with the first payment of
interest due on Aug. 1, 2019.  Commencing on July 15, 2019, subject
to certain beneficial ownership limitations, the Investor may
convert the principal amount of the New Note and accrued interest
earned thereon at any time into shares of the Company's common
stock at $0.22 per share, subject to adjustment for customary stock
splits, stock dividends, combinations or similar events.

The New Note contains standard and customary events of default
including, but not limited to, failure to make payments when due
under the New Note, failure to comply with certain covenants
contained in the New Note, or bankruptcy or insolvency of the
Company.  Any principal or interest on the New Note which is not
paid when due shall bear interest at the rate of the lesser of (i)
18% per annum and (ii) the maximum amount permitted by law from the
due date thereof until the same is paid.

So long as no event of default exists, the Company may prepay, in
part or in full, the outstanding principal and accrued and unpaid
interest upon 10 days written notice to the Investor.  If the
Company exercises its right to prepay the New Note, the Company
shall make payment to the Investor of an amount in cash equal to
either of (i) 105% if the Notice is delivered within three months
of the date of issuance or (ii) 110% if the Notice is delivered at
any time thereafter, multiplied by the sum of: (a) the then
outstanding principal of the New Note plus any accrued and unpaid
interest thereon, and (b) if applicable, the Default Interest and
other amounts due, if any, on the New Note.

During the term of the New Note, in the event that the Company
grants, issues or sells any Options, Convertible Securities or
rights to purchase stock, warrants, securities or other property
pro rata to all or substantially all of the record holders of any
class of Common Stock, the Investor will be entitled to acquire,
upon the terms applicable to such Purchase Rights, the aggregate
Purchase Rights which the Investor could have acquired if the
Investor had held the number of shares of Common Stock acquirable
upon complete conversion of the New Note immediately prior to the
date on which a record is taken for the grant, issuance or sale of
such Purchase Rights, or, if no such record is taken, the date as
of which the record holders of shares of Common Stock are to be
determined for the grant, issue or sale of such Purchase Rights.

On Sept. 19, 2019, the Company and the Investor amended the New
Note pursuant to the Amendment which, among other things, provided
for (i) an interest rate of 18% as of Aug. 1, 2019, with all
accrued interest due on the Maturity Date; (ii) a Conversion Price
of $4.00 on a post reverse stock split basis, subject to the
approval by the NYSE American; and (iii) such additional terms as
more fully set forth in the Amendment.

                     Description of Warrants

The Warrant entitles the Investor to purchase, in the aggregate, up
to 1,000,000 Warrant Shares at an exercise price of $0.22 per share
for a period of five years subject to certain beneficial ownership
limitations.  The Warrant is immediately exercisable once the
Company obtains approval thereof by the NYSE American. The exercise
price of $0.22 is subject to adjustment for customary stock splits,
stock dividends, combinations or similar events.  The Warrant may
be exercised for cash or on a cashless basis.

                         About DPW Holdings

DPW Holdings, Inc., formerly known as Digital Power Corp. --
http://www.DPWHoldings.com/-- is a diversified holding company
pursuing growth by acquiring undervalued businesses and disruptive
technologies that hold global potential.  Through its wholly owned
subsidiaries and strategic investments, the company provides
mission-critical products that support a diverse range of
industries, including defense/aerospace, industrial,
telecommunications, medical, crypto-mining, and textiles.  In
addition, the company owns a select portfolio of commercial
hospitality properties and extends credit to select entrepreneurial
businesses through a licensed lending subsidiary. DPW Holdings'
headquarters is located at 201 Shipyard Way, Suite E, Newport
Beach, CA 92663.

DPW Holdings incurred a net loss of $32.98 million in 2018,
following a net loss of $10.89 million in 2017.  As of June 30,
2019, the Company had $52.42 million in total assets, $30.57
million in total liabilities, and $21.84 million in total
stockholders' equity.

Marcum LLP, in New York, the Company's auditor since 2016, issued a
"going concern" qualification in its report dated April 16, 2019,
on the Company's consolidated financial statements for the year
ended Dec. 31, 2018, stating that the Company has a significant
working capital deficiency, has incurred significant losses and
needs to raise additional funds to meet its obligations and sustain
its operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


DR. RICHARD R. ROLLE: Order Directing PCO Appointment Vacated
-------------------------------------------------------------
This cause coming on to be heard upon the Order Directing
Bankruptcy Administrator to Appoint Ombudsman pursuant to 11 U.S.C.
Section 333(a) entered by the Court on August 19, 2019, and the
Objection to the Order Directing Bankruptcy Administrator to
Appoint Ombudsman filed by the Office of the Bankruptcy
Administrator on August 19, 2019.

The Court finds that Appointment of an ombudsman is not required in
Dr. Richard R. Rolle Jr., PLLC's case; therefore, the Order
Directing Bankruptcy Administrator to Appoint Ombudsman is hereby
vacated.

                      About Richard R. Rolle

Dr. Richard R. Rolle Jr., PLLC --
http://rolleoralfacialsurgery.com/-- owns and operates a surgery
center in Cornelius, North Carolina, specializing in oral and
maxillofacial surgery and general dentistry.  

Dr. Richard R. Rolle Jr., PLLC, filed for Chapter 11 protection
(Bankr. W.D.N.C. Case No. Case No. 19-31124) on Aug. 15, 2019 in
Charlotte, North Carolina.  In the petition signed by Richard R.
Rolle, Jr., member manager, the Debtor estimated assets at $100,000
to $500,000 and liabilities at $1 million to $10 million as of the
Petition Date.  Judge Craig J. Whitley oversees the case.  ESSEX
RICHARDS, P.A., is the Debtor's attorney.  


E.W. SCRIPPS: S&P Lowers ICR to 'B' ICR on Debt-Funded Acquisition
------------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on U.S.-based
TV broadcaster The E.W. Scripps Co. to 'B' from 'B+'. S&P removed
all of its ratings on Scripps from CreditWatch, where it placed
them with negative implications on Oct. 29, 2018.

The downgrade reflects the material increase in leverage following
Scripps' acquisition of stations from Nexstar Media Group Inc. S&P
expects Scripps' pro forma leverage to increase to 6.8x-7x in 2019
from around 5.5x (pro forma for the acquisition of Cordillera).
Despite recent acquisitions, S&P continues to view Scripps'
business less favorably than that of its peers given weaker EBITDA
margins in the 20% area, low retransmission revenue per subscriber,
and a high percentage of broadcasting revenue generated by
low-rated stations.

S&P expects leverage will remain in the mid-5x area or higher
through 2020. Scripps' pro forma leverage will increase to 6.8x-7x
in 2019 due to recent debt-funded acquisitions and improve to about
6x in 2020 due primarily to a sizable step-up in market
retransmission rates for about 3.5 million Comcast subscribers and
a greater contribution to EBITDA from its national media segment.
Including estimated retransmission revenue from Comcast
subscribers, S&P forecasts pro forma leverage of 5.7x-5.9x in 2019
and 5.4x-5.6x in 2020.

The stable outlook reflects S&P's expectation that leverage will
improve to around 6x in 2020 primarily due to retransmission
revenue growth and strong political advertising revenue. The stable
outlook also reflects S&P's expectation that Scripps will focus on
integrating recent acquisitions over the next 12-18 months and not
pursue additional leveraging transactions.

"While unlikely over the next 12 months, we could lower the rating
if pro forma leverage remains above 6.5x and free operating cash
flow (FOCF) to debt remains below 5% by year-end 2020 due to issues
integrating acquisitions, incremental debt-funded acquisitions or
shareholder returns, or an economic downturn that causes
advertisers to pull back on television advertising," S&P said.

"We could raise the rating if we expect leverage will improve below
5.25x and believe management is committed to maintaining leverage
below that. This could occur if the company successfully integrates
its acquisitions, generates substantial political advertising
revenue in 2020, and increases EBITDA contributed by its national
media segment," S&P said.


EL CASTILLO RETIREMENT: Fitch Rates New 2019A/B Revenue Bonds 'BB+'
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Fitch Ratings assigned a 'BB+' rating to the expected issuance of
the following City of Santa Fe, New Mexico Retirement Facility
revenue bonds on behalf of El Castillo Retirement Residences (El
Castillo):

  -- $47,160,000 retirement facility revenue bonds (El
     Castillo Retirement Residences Project), series 2019A;

  -- $12,000,000 retirement facility revenue bonds (El
     Castillo Retirement Residences Project), series 2019B-1;

  -- $11,000,000 retirement facility revenue bonds (El
     Castillo Retirement Residences Project), series 2019B-2.

The bonds are expected to be issued as fixed-rate obligations.
Proceeds from the bonds will be used to construct an independent
living facility that will include 68 independent living units
(ILUs), common areas and 142 underground parking spaces on a new
campus, fund 28 months of capitalized interest, establish a debt
service reserve fund and pay for the costs of issuance. The bonds
are expected to sell via negotiation the week of Oct. 21.

Fitch has also assigned a 'BB+' rating to the $21.1 million City of
Santa Fe, New Mexico retirement facility revenue bonds (El Castillo
Retirement Residences Project), series 2012.

The Rating Outlook is Stable.

SECURITY

The bonds are secured by a gross revenue pledge, mortgage on the
community and debt service reserve fund for the series 2012, 2019A,
2019B-1 and 2019B-2 bonds.

KEY RATING DRIVERS

Large Bond Funded Campus Construction in Santa Fe: The 'BB+' rating
reflects the construction risks and debt associated with a project
to build the new ILU expansion campus (La Secoya) approximately
half a mile away from the existing El Castillo campus. El Castillo
will be issuing $47 million of 2019 fixed rate bonds as well as $23
million of temporary debt that will be paid down with initial
entrance fees of approximately $31 million from the ILU expansion.
Concerns over fill-up risk are mitigated by limited competition, a
desirable location with both communities in downtown Santa Fe, a
high level of presales to date that require residents to put down
10% of their entrance fee as a deposit, as well as El Castillo's
waiting list of 300 prospective residents as of Aug. 28, 2019.
Total long-term debt, assuming pay down of the temporary debt, is
expected to be approximately $63 million in FY 2024, the first full
year of stabilization.

Elevated Pro forma Long-Term Liability Profile: A pro forma
analysis of El Castillo's long term liabilities shows maximum
annual debt service (MADS) of $4.3 million equating to an elevated
34.5% of fiscal 2019 (unaudited June 30 year-end) revenues. A pro
forma analysis of El Castillo's debt to net available (backing out
the $23 million short term debt) shows a very high 13.8x in FY19.
Fitch expects El Castillo's liability profile to strengthen over
the long term due to the additional revenue and cash flow that is
projected to be generated from the La Secoya expansion project.

Strong Operating Profile: El Castillo's strong service area and
limited competition contribute to strong ILU occupancy that
averaged 96% over the last five years. The community's weak
healthcare occupancy could be a potential risk, but El Castillo's
cash flow is reliant upon turnover entrance fees, which have been
consistently strong. Furthermore, the excess capacity at El
Castillo's healthcare services allows the community to be well
prepared to serve a larger resident base following the opening of
the La Secoya campus.

Adequate Financial Profile: El Castillo's operating ratio averaged
a weak 104.2% over the past five years, but consistently strong net
entrance fees produced a five-year average net operating margin -
adjusted (NOMA) of 26.7%, which is favorable to Fitch's 'BB'
category median of 18.3%. The very large increase in debt will
require El Castillo to complete and fill the project on time as
revenues from the 60% increase in ILUs on campus are crucial to
covering MADS, which was only 1.1x based on fiscal 2019 pro forma
coverage. El Castillo has a very strong history of ILU turnover,
and conservative projections show the community covering debt at
1.8x in 2024, the first full year after the project has achieved
stabilized occupancy at 95%, when the rate covenant is projected to
be tested.

Asymmetric Risk Considerations: There are no asymmetric risk
considerations affecting the rating determination.

RATING SENSITIVITIES

Unexpected Project Risk: The current rating already incorporates
risks relating to the La Secoya expansion project. An appropriate
amount of capitalized interest and contingency funds should produce
rating stability over the next several years. However, rating
pressure over the next couple of years could arise from
construction delays, cost overruns, higher than expected working
capital requirements, or occupancy and fill-up levels that lag
projections.

Financial Profile: Given the relatively lengthy time frame of the
ILU expansion project, upward rating movement is not anticipated
during the outlook period. Beyond the two-year Outlook period,
successful project completion and fill-up, coupled with temporary
debt reduction that is in line with forecasts, could produce
positive rating action.

CREDIT PROFILE

El Castillo is a 501(c)(3) corporation organized in 1969 that owns
and operates a single site, life plan community with 116 ILU
apartments, 26 ALUs, 11 memory support units and 23 skilled nursing
beds (12 semi-private and 11 private) in downtown Santa Fe, NM. El
Castillo only offers a fully-amortizing type-A residency agreement.
Total operating revenues in FY19 (unaudited) were $9.9 million.

Since beginning operations in 1971, El Castillo has undergone
several renovation and expansion projects. In 1999, the community
expanded to add 19 ILUs in a newly constructed building, two ILUs
to an existing building and added the health center, which at the
time consisted of 16 ALUs and 27 skilled nursing beds. The most
recently executed project involving a bond financing in 2012, which
constructed 7 ALUs, 12 private nursing beds and 11 memory support
units.

Large Expansion Plan

The series 2019 bonds will be used to fund construction for El
Castillo's new independent living facility, to be located in
downtown Santa Fe, approximately half a mile away from the existing
campus. The new facility, called La Secoya, will consist of 68 new
ILUs, 142 underground parking spaces, common areas and amenities.
Though the new campus will only consist of ILUs, residents will be
offered fully-amortizing type-A resident agreements that provide
assisted living, memory support assisted living and nursing
services at the existing El Castillo campus. Management began
accepting 10% deposits for the new ILUs in July 2019 and the units
were 90% presold (61of 68) as of Aug. 30, 2019.

The scale of La Secoya is very large given it will increase the
number of ILUs offered by El Castillo by nearly 60%. A guaranteed
maximum price contract is forthcoming, which will protect El
Castillo from certain potential cost overruns. To also mitigate
risk, El Castillo will use a national construction consulting firm
that specializes in the senior living industry to monitor
construction progress and include 28 months of funded interest. In
addition to permanent long-term debt, the plan of finance includes
about $23 million of temporary debt that is expected to be repaid
with proceeds of initial entrance fees. The total initial entrance
fee pool at stabilization is projected to be about $31 million with
the remainder forecasted to be held by El Castillo as unrestricted
cash and investments to increase its liquidity position. The total
initial entrance fee pool size at stabilization and manageable
amount of temporary debt provides El Castillo with financial
flexibility if move-ins are below expectations.

Fitch expects cash flow from the new ILUs to be accretive to El
Castillo's financial and operating profiles in the long term as new
residents will increase the overall revenue base and help
strengthen lagging healthcare census over the longer-term. The
strong level of reservations for the project and waitlist of 300
potential residents helps mitigate concerns regarding fill-up
risk.

Solid Operating Profile

El Castillo has a strong and positive reputation in its primary
market area (PMA) and operates as the only life plan community in
Santa Fe. The unique location is viewed positively as it not only
provides the benefit of being within walking distance from a wealth
of social, cultural and recreational activities but also provides
the community with a large barrier to competitive threats. The
ability to acquire land is limited, and any construction and
demolition in the area requires approval from the Santa Fe Historic
Districts Review Board.

The primary market area (PMA) for El Castillo includes eight zip
codes in Santa Fe where the community draws a majority
(approximately 60%) of its residents. The number of over 65 and
income eligible (over $72,900) households in the PMA is estimated
to be 9,875 in 2021, with expectations for modest growth
thereafter. Entrance fees for the community are reasonable as the
weighted average entrance fee for existing ILUs ($270,000-$300,000)
and new ILUs ($455K) is below the $475,000 weighted average sales
price of single-family homes in the PMA (for the seven months ended
July 31, 2019).

In addition, the community's favorable location and service
offerings provides the community with the ability to draw high net
worth residents as indicated by the high median net worth and
annual income of the 61 depositors (as of Aug. 30, 2019) that is
well in excess of the amounts required for admission. This reduces
the potential risk for affordability challenges during periods of
economic or real estate market stress. Overall, given the limited
competition in the PMA, and strong waiting list for the community,
Fitch views market penetration rates as reasonable and expects
demand for El Castillo's services to remain robust even following
completion of the expansion project.

Historical independent living occupancy has been strong and
averaged 96% over the past five fiscal years. Healthcare occupancy
has been much weaker, averaging 80% for assisted living and memory
care combined and 48% for skilled nursing over the same period.
Though weaker healthcare census is generally viewed unfavorably,
the community's healthcare offerings and staffing levels are
structured to primarily to serve existing residents as well as a
limited number of private-pay external admissions (the community is
not licensed for Medicare or Medicaid and has no plans to obtain
such licensure). Only a small percentage of El Castillo's resident
service revenue is generated by healthcare services and the
community's cash flow is generally reliant upon turnover entrance
fees, which is typical for a type-A facility. While this reliance
could be a concern during times of lower ILU occupancy, the
community's historical success keeping ILU occupancy high and
strong demand indicators mitigate this risk. Furthermore,
utilization of excess healthcare capacity should improve over the
long-term as the new residents at La Secoya transition through the
full continuum of care.

Adequate Financial Performance
El Castillo's operating ratio and net operating margin averaged a
weak 104.2% and 2.2% over the past five fiscal years. Conversely,
consistently strong ILU turnover has produced a strong NOM-adjusted
of 26.7% over the past five years that compares favorably to
Fitch's below-investment-grade median of 18.3%. Despite robust
capital spending, which has averaged 232% of depreciation over the
past five fiscal years, the average age of plant remains inflated
at 15.6 years in 2019. Fitch toured the existing El Castillo campus
and found the ILUs and healthcare units to be attractive especially
given the consistent renovation of turned over ILUs, combination of
smaller ILUs to create larger units and recent interior renovation
of healthcare service areas. However, larger projects or
improvements at either campus may be subject to restrictions from
the Santa Fe Historic District Board.

Unrestricted cash and investments of about $15.3 million translates
to 630 DCOH and 68.9% of outstanding debt as of June 30, 2019. The
pro forma cushion ratio of 3.6x and pro forma cash to permanent
debt of approximately 22% are low when compared to other
below-investment-grade credits. Net entrance fees should help
stabilize El Castillo's liquidity position during construction and
leverage metrics are expected to improve as the project completes
and temporary debt is paid down. El Castillo's feasibility study
shows liquidity strengthening to approximately 44% cash to debt and
6.4x cushion ratio in fiscal 2024, the first full year of
stabilization of the project. Fitch views the projections as
reasonable given practical expectation of a 23 month fill period
for the new units.

Increased Debt Position

The 2019 bond issuance will increase El Castillo's total debt by
about $70 million, or 312%. The increased leverage results in a
very high 34.5% pro forma MADS as a percent of revenues and weak
1.1x pro forma MADS coverage as of fiscal 2019. Debt to net
available is expected to remain elevated relative to Fitch's
below-investment-grade medians until the project is stabilized.
Total long-term debt post issuance is expected to be approximately
$68.5 million, which includes $46.1 million in series 2019A bonds,
$21.1 million in series 2012 bonds and a $1.4 million promissory
note.

Disclosure

El Castillo covenants to disclose annual reports no later than 120
days after each fiscal year end and quarterly reports no later than
45 days after quarter end. All information is provided via the
Electronic Municipal Market Access System, which is maintained by
the Municipal Securities Rulemaking Board.


ELEVATE TEXTILES: Moody's Lowers CFR to B3 on Weak Revenues
-----------------------------------------------------------
Moody's Investors Service downgraded Elevate Textiles, Inc.'s
ratings, including its corporate family rating to B2 from B1,
probability of default rating to B2-PD from B1-PD, first lien
senior secured term loan to B2 from B1, and second lien senior
secured term loan to Caa1 from B3. The outlook is stable.

"The downgrade reflects Elevate's weaker than expected revenue and
earnings, and high financial leverage; both of which have not met
its original expectations," stated Mike Zuccaro, Moody's Vice
President. While Elevate is not directly impacted by current tariff
increases in a material way, ongoing trade uncertainty, along with
plant consolidations and inventory reduction efforts at certain key
customers, have resulted in delayed customer orders and reduced
revenue. Gross margins were hurt by the lower sales volumes and
higher raw material and other costs that were not fully offset by
price increases. Zuccaro added, 'the stable outlook reflects its
expectation that Elevate will return to modest revenue growth over
the next 12 months, with improved sales volume, integration and
cost savings leading to improved EBITDA. When coupled with a focus
on improving working capital and free cash flow, we expect the
company to reduce debt and improve its credit metrics."

Downgrades:

Issuer: Elevate Textiles, Inc.

  Corporate family rating, downgraded to B2 from B1

  Probability of default rating, downgraded to
  B2-PD from B1-PD

  Senior secured first lien term loan, downgraded
  to B2 (LGD4) from B1 (LGD3)

  Senior secured second lien term loan, downgraded to
  Caa1 (LGD5) from B3 (LGD5)

Outlook Actions:

Issuer: Elevate Textiles, Inc.

  Outlook, remains stable

RATINGS RATIONALE

Elevate's credit profile reflects its high debt load stemming from
the May 1, 2018 acquisition of American & Efird Global Holdings
LLC. This was a large, transformative transaction that more than
doubled the company's size; although, integration risk is expected
to be modest as the businesses will largely operate separately.
When combined with recent revenue and earnings declines, financial
leverage is also high, with pro forma lease-adjusted debt/EBITDAR
exceeding 6.0 times and EBITA/Interest around 1.4 times, when
considering pro forma integration and cost savings, as of June 30,
2019. Exposure to volatile commodity prices such as cotton and
oil-based synthetic fibers is also a key credit concern. Despite
some proven ability to pass through modest cost increases to
customers, earnings could become challenged if key inputs were to
rise rapidly and/or significantly. Private equity ownership also
gives rise to event risk, particularly debt-financed dividends or
acquisitions, which could negatively impact the company's
de-leveraging capability.

Also considered are the strategic benefits of A&E acquisition,
which combined a leading producer of denim, worsted wool,
automotive safety and other industrial fabrics with a leading
manufacturer and distributor of premium sewing threads. As one of
the largest global manufacturers of denim and premium industrial
threads and a sole supplier of wool uniform fabric to all four
branches of the US military, the combined company holds a solid
market position in these highly fragmented markets, with diverse
product offerings, end markets and geographical sales channels.
When combined with established long-term key customer
relationships, this should lead to improved stability of revenue
over time. Liquidity is good, with balance sheet cash and cash flow
from operations expected to be more than sufficient to cover
working capital, capital expenditures and debt amortization needs
over the next twelve months.

Ratings could be downgraded if the company's operating performance
continues to weaken through continued revenue and earnings
declines, or if liquidity deteriorates. More aggressive financial
policies, such as material debt funded acquisitions or dividends,
could also lead to a downgrade. Ratings could be lowered the
company is unable to reduce lease-adjusted debt/EBITDA below 6.0
times, or improve EBITA/interest expense above 1.5 times within the
next 12 months.

An upgrade would require sustained revenue and earnings growth,
maintaining good liquidity with solid free cash flow, and
demonstrating conservative financial policies such as prioritizing
debt reduction. Quantitative metrics include lease-adjusted
debt/EBITDA sustained below 5.0 times or EBITA/interest expense
near 2.0 times.

Elevate Textiles, Inc., headquartered in Charlotte, North Carolina,
is a global textiles company serving diverse end markets,
including, apparel, denim, military, fire, auto and industrials,
through its product offering of denim, wool, performance and
technical textiles. Elevate is a direct subsidiary of Elevate
Textiles Holding Corporation. Through an indirect parent, the
company is owned by private equity firm Platinum Equity, LLC.

The principal methodology used in these ratings was Global
Manufacturing Companies published in June 2017.


EP ENERGY: Obtains Forbearance Extension Until October 3
--------------------------------------------------------
As previously disclosed, on Sept. 14, 2019, certain subsidiaries of
EP Energy Corporation entered into forbearance agreements with (i)
certain beneficial owners and/or investment advisors or managers of
discretionary accounts for the beneficial owners of greater than
70% of the aggregate principal amount of the outstanding 8.00%
Senior Secured Notes due 2025 issued by EP Energy LLC and Everest
Acquisition Finance Inc., both wholly-owned subsidiaries of the
Company, and (ii) certain lenders holding greater than a majority
of the revolving commitments under the Company's reserve-based
revolving credit facility.

The parties to the Forbearance Agreements entered into amendments
to each Forbearance Agreement on Sept. 18, 2019, pursuant to which
the terms of the Forbearance Agreements were extended to 11:59 p.m.
New York City time on Oct. 3, 2019, unless extended or certain
specified circumstances cause an earlier termination.

                        About EP Energy LLC

EP Energy LLC, a wholly-owned subsidiary of EP Energy Corporation
-- http://www.epenergy.com/-- is an independent exploration and
production company engaged in the acquisition and development of
unconventional onshore oil and natural gas properties in the United
States.  The Company operates through a diverse base of producing
assets and are focused on providing returns through the development
of its drilling inventory located in three areas: the Permian basin
in West Texas, the Eagle Ford Shale in South Texas, and the
Altamont Field in the Uinta basin in Northeastern Utah. The Company
is headquartered in Houston, Texas.

                             *   *    *

As reported by the TCR on Sept. 23, 2019, S&P Global Ratings
lowered its long-term issuer credit rating on U.S.-based
exploration and production company EP Energy LLC to 'D' from 'CC'.
EP Energy failed to make a $40 million interest payment on its
1.5-lien senior secured notes due 2025, which constitutes an event
of default under the bond indenture and the credit agreement.  The
company failed to make the interest payment before the 30-day grace
period expired because active discussions with some of the
company's creditors are ongoing regarding the company's evaluation
of strategic alternatives.

In April, 2019, Moody's Investors Service downgraded the ratings of
EP Energy LLC's (EPE) Corporate Family Rating to 'Caa3' from
'Caa1'.  The downgrade of EP Energy's CFR to Caa3 reflects its weak
liquidity, need to repay $182 million of notes maturing in May 2020
and potential for continued negative free cash flow in 2019, if
production volumes remain flat.


F & S ASSOCIATES: Unsecureds to Get 100% With Interest
------------------------------------------------------
F & S Associates Limited Partnership filed a second amended Chapter
11 Plan of Reorganization and disclosure statement.

Class 7 - Allowed General Unsecured Claims. The members and amounts
owed to each member of Class 7 are as follows: the Columbia
Association ($47,414.49) and the Internal Revenue Service the
2014-2016 tax years ($7,048.61). The Debtor expects to pay members
of Class 7 100% of their claims with interest at the Legal Interest
Rate.

Class 1 - Howard County, MD Tax Claim with an estimated claim of $
40,000. The Debtor expects to pay members of Class 1 approximately
$40,000 or 100 percent of its claim.

Class 2 - Allowed Secured Claim of Red Branch Limited Partnership
with an estimated claim of $1,973,426.93 plus attorneys' fees in
the amount of $82,945.78 as of August 31, 2019. All rights, claims
and causes of action of Red Branch against non-Debtor obligors are
expressly reserved, and nothing herein shall be deemed a release of
such rights, claims and causes of action. The Debtor expects to pay
members of Class 2 100 percent of its claim.

Class 3 - Martel Holdings and McCready Holdings LLC with an
estimated claim  of $250,000. The Debtor expects to pay members of
Class 3 $250,000 or 100% of its claim.

Class 4 - Oakland Ridge Industrial Development Corporation. The
Debtor expects to pay members of Class 4 $1,465.13 or 100 percent
of its claim.

Class 5 - Howard County - Citation Claim. The Debtor expects to pay
members of Class 4 $20,000 or 100 percent of its claim.

Class 6 - Samjord Partners. Because the lien held by Samjord is
cross collateralized with other properties owned by Affiliated
Entities of the Debtor, with the sale of those properties, the
amount owed to Samjord by the time the Real Property owned by the
Debtor is sold cannot be estimated with certainty. However, the
Debtor expects to pay members of Class 6 100 percent of the balance
owed to Samjord once any cross collateralized properties are sold.


The balance of the loan owed to Red Branch was $1,951,866.53 as of
the Petition Date as set forth in Red Branch’s proof of claim
filed in this case. Interest, and attorneys’ fees under the loan
agreement continue to accrue. As of August 31, 2019, the balance
owed to Red Branch exceeds $2 Million.

The Debtor has month-to-month license agreements with nine Tenants.
The following chart identifies each of the tenants, the monthly
rent due and owing, and whether the contract will be assumed or
rejected. The Debtor cannot determine at this time the executory
contracts that will be assumed because the Debtor is waiting for
9190 LLC to affirm whether it wants all of the contracts cancelled.
It is expected that the Debtor will have a response on this issue
from 9190 LLC by the end of the due diligence period. After the
Property is sold, the Buyer may decide to reject any of the
contracts that have been assumed.

On June 18, 2019, the Debtor and Nichols Contracting executed a
Letter of Intent to sell the Property to Nichols f0r $3,300,000
payable as follows: an initial payment of $2,500,000 paid in cash
at closing and a second payment of $800,000 payable within 32
months. The second payment of $800,000 shall be secured by a Note
from Nichols Contracting, Inc. and an Indemnity Deed of Trust in
second position on the Property from the new owner. The loan will
be guaranteed by the Purchaser and Frederick Nichols.

In addition to the purchase price, providing the transfer and
recordation taxes are waived pursuant to section 1146(a) of the
Bankruptcy Code, the Purchaser shall pay to the Debtor an amount
equal to 1% of the purchase price to the Debtor for the payment of
the US Trustee Fee. These funds shall be a carve out on the
settlement statement and wired to the Receiver or the DIP account
for the next quarterly US Trustee payment.

A deposit in the amount of $50,000 was paid to the Debtor on
September 12, 2019 and is currently held in the escrow account of
Land Services, USA located at 215 Washington Avenue, Suite 707,
Towson, MD 21204, the title company.

On July 29, 2019, the Debtor filed an Opposition to this Motion. On
September 11, 2019, the Court granted the Motion, and the Receiver
will remain in place until closing on the sale of the Real Property
and related Assets. The Order granting the Motion shall survive
confirmation of the Plan and is incorporated into the Plan.

The Debtor expects the following Professional Fee Claims: (i) The
attorney's fees of counsel for the Debtor in this matter approved
by the Court are included as an Allowed Administrative Expense. The
Debtor estimates that such fees will total $50,000, upon
application and approval by the Court. Subject to the approval of
the Court, the approved attorney's fees of the Debtor's Attorney
are to be paid to The Coyle Law Group out of the HUD-1 at the
closing of the sale of the Debtor's Real Property and (iii) the
fees and costs of the Receiver estimated to be approximately
$12,000 through Sale and Wrap Up, upon application and approval of
the Court.

On August 23, 2019, the Seller and the Purchaser entered into a
First Amendment to Purchase and Sale Agreement to extend the time
to August 23, 2019 to file a motion with the Bankruptcy Court to
sell the Property to the Purchaser consistent with the signed
contract. The initial deadline of 5 business days from the signing
of the Contract was missed due to the death of the Debtor
attorney’s father. In addition to the extension of time for the
motion, the due diligence period for the Purchaser was extended
nine (9) days until October 15, 2019.

A redlined version of the Second Amended Disclosure Statement dated
September 20, 2019, is available at https://tinyurl.com/y2gdhrtt
from PacerMonitor.com at no charge.

A redlined version of the Second Amended Plan dated September 20,
2019, is available at https://tinyurl.com/y2abppgc from
PacerMonitor.com at no charge.

Counsel to the Debtor:

     Michael Coyle, Esq.
     The Coyle Law Group LLC
     7061 Deepage Drive, Suite 101-B
     Columbia, MD 21045
     Tel: (443) 545-1215

                    About F & S Associates LP

F & S Associates Limited Partnership based in Columbia, MD, filed a
Chapter 11 petition (Bankr. D. Md. Case No. 19-14947) on April 11,
2019.  In its petition, the Debtor estimated $1 million to $10
million in both assets and liabilities.  The Hon. David E. Rice
oversees the case.  The Coyle Law Group LLC serves as bankruptcy
counsel to the Debtor.


FAIRGROUNDS PROPERTIES: Court Approves Disclosure Statement
-----------------------------------------------------------
Fairgrounds Properties, Inc. filed a Disclosure Statement under
chapter 11 of the Bankruptcy Code on March 14, 2019, which was
amended twice on May 28, 2019 and July 23, 2019.

The court has ordered the approval of the amended disclosure
statement filed on July 23, 2019.

October 3, 2019 will be the last day for filing written acceptances
or rejections of the plan referred to above.  October 17, 2019 at
3:30 p.m. is fixed for the hearing on confirmation of the Plan.

Attorney for Debtor is Darren B. Neilson, Esq., at The Neilson Law
Group, in Salt Lake City, Utah.

                 About Fairgrounds Properties

In 2007, Fairgrounds Properties, Inc., purchased 86 acres of real
property located in Hurricane, Utah.  It developed the property
into industrial lots and then sold them further construction and
development by purchasers.  Through various sales over the years,
as of Oct. 25, 2017, Fairgrounds is left with 31 acres, which have
been divided up into 19 lots.  The Company has completed the entire
infrastructure of remaining land including; completion of gutters,
paved entries and water/sewer.

The company previously sought bankruptcy protection (Bankr. D. Utah
Case No. 11-26803) in 2011.  Fairgrounds Properties' prior Plan of
Reorganization dated Dec. 8, 2011, was confirmed by Judge William
T. Thurman at the confirmation hearing held on April 5, 2012.

Fairgrounds Properties filed a Chapter 11 petition (Bankr. D. Utah
Case No. 17-29271) on Oct. 25, 2017.  In the petition signed by
Robert C. Stevens, its president, the Debtor estimated $1 million
to $10 million in both assets and liabilities.  Darren B. Neilson,
Esq., at Neilson Law, LLC, serves as bankruptcy counsel to the
Debtor.  Cushman & Wakefield is the Debtor's realtor.


FIRST CHICAGO: A.M. Best Hikes Fin. Strength Rating to B-(Fair)
---------------------------------------------------------------
AM Best has upgraded the Financial Strength Rating (FSR) to B-
(Fair) from C++ (Marginal) and the Long-Term Issuer Credit Rating
(Long-Term ICR) to "bb-" from "b+" of First Chicago Insurance
Company (FCIC). The outlook of these Credit Ratings (ratings) has
been revised to stable from positive. Concurrently, AM Best has
upgraded the FSR to C+ (Marginal) from C (Weak) and the Long-Term
ICR to "b-" from "ccc" of United Security Health and Casualty
Company (USH&C), a wholly owned subsidiary of FCIC. The outlook of
the Long-Term ICR has been revised to stable from positive while
the outlook for the FSR remains stable. Both companies are
domiciled in Bedford Park, IL.

The ratings of FCIC reflect its balance sheet strength, which AM
Best categorizes as weak, as well as its adequate operating
performance, limited business profile and marginal enterprise risk
management (ERM).

The rating upgrades reflect FCIC's adequate operating performance,
which has resulted in favorable underwriting gains, net income and
additions to surplus for five consecutive years. These favorable
operating metrics are due mainly to consistent underwriting
profitability bolstered by other fee income and an increasing
stream of net investment. As a result, FCIC's five-year average
combined and operating ratios have outperformed the private
passenger non-standard automobile composite.

Partially offsetting these positive rating factors is FCIC's
significantly elevated underwriting leverage and expense ratio,
which compare unfavorably with the composite. Despite adding to
surplus for five consecutive years, the group continues to grow its
direct and new written premiums and policy counts, which may expose
the company to pricing and loss reserving errors. As a result, the
net and gross underwriting leverage ratios remain well above
composite averages. In addition, elevated underwriting expenses
driven by commission and other expenses, dampen overall
profitability. Further, FCIC has a geographic concentration of
risk, as 74% of direct written premium is written in two states,
Illinois and Indiana.

Concurrently, the ratings of USH&C reflect its balance sheet
strength, which AM Best categorizes as weak, as well as its weak
operating performance, very limited business profile and marginal
ERM. These assessments reflect the company transitioning since 2017
to a health and property/casualty (P/C) entity from a life/health
entity. These rating upgrades mainly reflect additional capital of
$1.8 million contributed by its parent in 2019.

Partially offsetting this positive factor is the continued
execution risk in management's ability to execute the business plan
successfully and gain traction as a P/C carrier. This execution
risk is mitigated somewhat, as USH&C's parent company has
experienced management and a history of operating P/C companies.
The positive outlooks reflect AM Best's expectation that the
company will meet its projections for premium growth and operating
profitability in 2019.


FIRST FLORIDA: U.S. Trustee Directed to Appoint PCO
---------------------------------------------------
First Florida Living Options LLC consented to the appointment of a
Patient Care Ombudsman.
The Court having reviewed the record in this matter, directs the
United States Trustee to appoint a disinterested Patient Care
Ombudsman or if the debtor is a health care business that provides
long-term care, the State Long-Term Ombudsman appointed under the
Older American Act of 1965.

Ocala, Florida-based First Florida Living Options LLC, dba
Hawthorne Health and Rehab of Ocala, dba Hawthorne Village of
Ocala, dba Hawthorne Inn of Ocala, fka Surrey Place of Ocala, which
provides nursing and rehabilitative services to patients who
require continuous health care, filed a Chapter 11 Petition (Bankr.
M.D. Fla. Case No. 19-02764) on July 22, 2019.

The Debtor's counsel is Alberto F. Gomez, Jr., Esq., at Johnson,
Pope, Bokor, Ruppel & Burns, LLP, in Tampa, Florida.

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


FIVE DREAMS: Unsecureds to Get Full Payment at 3% Interest
----------------------------------------------------------
Five Dreams Holdings, LLC, a Chapter 11 Plan and accompanying
disclosure statement.  The Court will hold a hearing to consider
approval of the Disclosure Statement on October 9, 2019, at 10:30
a.m.

The Debtor's schedules listed liabilities consisting of secured
claims totaling approximately $9,795,621.86, and general unsecured
claims totaling approximately $492,936.63.

Class 7 shall consist of General Unsecured Claims.  The Debtor
shall pay to each Holder of a General Unsecured Claim the Allowed
Class 7 General Unsecured Claims (subject to the right of setoff
and recouping).  The Debtor shall sell, lease or refinance its
business or assets, and Debtor shall use such net proceeds after
payment of higher priority claims and costs to pay the General
Unsecured Claims in full pursuant to this Class 7 with interest
accruing at the annual rate of 3% on the principal balance of any
Allowed Claim, from the later of (1) the Effective Date and (2)
date the Court enters a final order fixing the allowed amount of
any Class 7 Claim.

A full-text copy of the Disclosure Statement is available at
https://tinyurl.com/y4557vkt from PacerMonitor.com at no charge.

Attorneys for Debtor:

     Leslie M. Pineyro, Esq.
     Thomas T. McClendon, Esq.
     Leon S. Jones, Esq.
     Jones & Walden, LLC
     21 Eighth Street, NE
     Atlanta, Georgia 30309
     Tel: (404) 564-9300

                    About Five Dreams Holdings

Five Dreams Holdings, LLC filed as a Single Asset Real Estate (as
defined in 11 U.S.C. Section 101(51B))

Five Dreams Holdings filed a petition for relief under Chapter 11
of the Bankruptcy Code (N.D. Ga. Case No. 19-58641) on June 3,
2019. In the petition signed by Brian Stewart, manager, the Debtor
estimated $50,000 in assets and $10 million to $50 million in
liabilities. Leslie M. Pineyro, Esq., at Jones & Walden, LLC,
represents the Debtor as counsel.

No official committee of unsecured creditors has been appointed in
the Chapter 11 case of Five Dreams Holdings, LLC as of July 11,
according to a court docket.


FORTRESS GROUP: Houchens Auction of Edmonson Property Approved
--------------------------------------------------------------
Judge Joan A. Lloyd of the U.S. Bankruptcy Court for the Western
District of Kentucky authorized The Fortress Group, Inc.'s sale of
the real property located in Edmonson County, Kentucky, described
in Exhibit A, by public auction to be conducted by Joe B. Houchens
Auctioneers, Inc. during the last week in October 2019 or the first
week of November 2019.  

The sale is free and clear of all liens, claims and encumbrances.

A certified copy of the Electronic Order of the Court be filed of
record in the Edmonson County Court Clerk's Office, and that the
Edmonson County Court Clerk's Office will release the described
property from the liens upon recordation of the Order and upon
recordation of the Deeds of Conveyance from the Debtor.

After the sale and the closing of the real property contemplated by
the Order, that Debtor will file with the Court a closing statement
showing all disbursements paid in accordance with the priority set
forth in the Motion for Authority to Sell.   

Th Order is a final and appealable order, and there is no just
cause for delay.

A copy of the Exhibit A attached to the Motion is available for
free at:

      http://bankrupt.com/misc/The_Fortress_Group_27_Sales.pdf

                     About The Fortress Group

The Fortress Group, Inc., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Ky. Case No. 19-10499) on May 21,
2019.  At the time of the filing, the Debtor disclosed $6,652,465
in assets and $3,481,757 in liabilities.  The case is assigned to
Judge Joan A. Lloyd.  Mark H. Flener, Esq., is the Debtor's
bankruptcy attorney.


FOSSIL GROUP: Moody's Assigns Ba3 CFR, Outlook Stable
-----------------------------------------------------
Moody's Investors Service assigned ratings to Fossil Group, Inc.,
including a Ba3 corporate family rating; Ba3-PD probability of
default rating and a Ba3 rating on its proposed $200 million senior
secured term loan. At the same time, Moody's assigned a speculative
grade liquidity rating ("SGL") of SGL-1, reflecting an expectation
for very good liquidity. The ratings outlook is stable.

Proceeds from the proposed term loan, along with a combination of
cash and/or revolver borrowing, will be used to refinance the
company's existing unrated senior secured term loan due December
31, 2020. The ratings are subject to completion of the refinancing
and review of final documentation.

"Technological change, including smart watches and other wearable
technologies, has significantly disrupted the traditional watch
category, negatively impacting Fossil's sales and operating margins
over the past four years," stated Mike Zuccaro, Moody's Vice
President. "The company has implemented business transformation
efforts, leading to recent margin improvement and significant debt
reduction. Financial leverage is moderate and liquidity is very
good, supported by its expectation that the company will maintain a
net cash position and consistent, positive free cash flow
generation. These factors will allow the company to weather
near-to-intermediate term challenges as is further executes it
plan."

The following ratings were assigned:

Assignments:

Issuer: Fossil Group, Inc.

Corporate Family Rating, Assigned Ba3

Probability of Default Rating, Assigned Ba3-PD

Senior Secured Bank Credit Facility, Assigned Ba3 (LGD3)

Speculative Grade Liquidity Rating, Assigned SGL-1

Outlook Actions:

Issuer: Fossil Group, Inc.

Outlook, Assigned Stable

RATINGS RATIONALE

Fossil's Ba3 CFR reflects its position as one of the world's
largest manufacturers and distributors of watches. The company has
a broad portfolio of owned and licensed brands, which provide it
with broad distribution across a wide range of retailers, and broad
international reach, with the majority of its consolidated net
sales generated outside the US. While Fossil has a high reliance on
third party licensing sales, the company's demonstrated
manufacturing, design and distribution capabilities provide a high
likelihood of maintaining relationships with a broad range of
sizeable lifestyle brand owners. The rating also takes into
consideration the company's recent margin improvements stemming
from significant cost savings actions, as well as its very good
liquidity, and moderate financial leverage.

Fossil is constrained by its high reliance on watch products for
the significant majority of sales, the highly discretionary product
category and declining sales due to technological change. Over
time, Moody's expects growth opportunities exist for Fossil,
through increased scale in its connected business, international
expansion and e-commerce. However, it will take some time for the
connected business to gain the scale needed to offset the declining
traditional watch business. While having a diverse portfolio of
brands, the rating also considers Fossil's high reliance on certain
licensed brands, such as Michael Kors, for sales.

The stable outlook balances the company's conservative financial
policy, moderate leverage and very good liquidity with continued
uncertainty around the depth and duration of traditional watch
sales declines.

The Ba3 rating assigned to Fossil's proposed senior secured term
loan reflects Moody's expectation that it will have a first
priority lien on all capital stock of domestic subsidiaries, 65% of
the voting stock of each first-tier foreign subsidiary, and
substantially all assets of the borrowers and guarantors, except
current asset collateral consisting of inventory, accounts
receivable and cash, on which it will have a second lien behind an
unrated $275 million asset based revolver. The term loan will be
guaranteed by material domestic subsidiaries. The rating reflects
the loan's junior position to priority accounts payable and the
ABL's claim on the more liquid assets, offset by support provided
by sizable junior claims such as leases and remaining accounts
payable.

Ratings could be upgraded over time if the company resumes revenue
growth and profit margin expansion while maintaining very good
liquidity, conservative financial policies and credit metrics at or
better than current levels.

Ratings could be downgraded if it appears that the company will be
unable to stabilize revenue and earnings declines, or if liquidity
were to materially erode.

Fossil Group, Inc. is a global design, marketing and distribution
company that specializes in consumer lifestyle and fashion
accessories. Principal offerings include an extensive line of men's
and women's fashion watches, jewelry, handbags, small leather
goods, and accessories sold under a diverse portfolio of
proprietary and licensed brands. Revenue exceeded $2.5 billion in
fiscal 2018.

The principal methodology used in these ratings was Apparel
Companies published in December 2017.


FOSSIL GROUP: S&P Assigns BB- ICR, Rates $200M Term Loan 'BB'
-------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' issuer credit rating to
Fossil Group Inc. and its 'BB' issue-level rating and '2' recovery
rating to the proposed $200 million term loan B due in 2024. The
'2' recovery rating reflects S&P's expectation for substantial
(70%-90%, rounded estimate 70%) recovery in the event of a payment
default.

The 'BB-' issuer credit rating reflects Fossil's vulnerability to
the declining traditional watch category and its narrow product
focus, as well as its relatively conservatively leveraged balance
sheet that should allow Fossil to focus on stabilizing its
declining sales trends. It also incorporates the company's good
geographic diversification and a portfolio of well-known company
owned and licensed brands.

The stable outlook reflects S&P's expectation that Fossil will
maintain debt leverage in the low- to mid-2x area over the next two
years as it continues to stabilize declining sales and improve
profitability. S&P expects the benefits of the company's
cost-savings initiatives, healthy sales growth in APAC, and
increasing sales from wearable devices to help offset margin
pressures resulting from declining sales of traditional watches.

"Although unlikely over the next year given its solid credit
metrics, we could consider a negative rating action if we believe
the company will be unsuccessful at increasing sales at its
wearable devices segment and its top-line growth does not show
sequential improvement by the beginning of fiscal 2020. Such event
could pressure the company's profitability to the extent that it
cannot offset margin erosion through cost-savings initiatives and
result in debt leverage exceeding 3x," S&P said.

"Given our expectations for declining sales, a positive rating
action is unlikely over the next one to two years. Longer term, an
upgrade would be based on the company's business strengthening.
This could occur if it can grow its wearable devices sales and
expand into APAC markets such that it can offset ongoing decline in
the core traditional watch segment," the rating agency said.


FRANKIE V'S KITCHEN: Court Approves Disclosure Statement
--------------------------------------------------------
The Disclosure Statement of Frankie V's Kitchen, LLC is approved.

The hearing to consider the confirmation of the Plan is fixed and
shall be held on October 28, 2019, at 1:30 PM (CDT) before the
Honorable Stacey G.C. Jernigan, United States Bankruptcy Judge,
United States Bankruptcy Court for the Northern District of Texas,
Dallas Division, Earle Cabell Federal Building, 1100 Commerce St.,
Rm. 1254, Dallas, TX 75242-1496.

The deadline for filing and serving Objections to confirmation of
the Plan is hereby fixed as October 21, 2019, at 5:00 PM (CDT).

               About Frankie V's Kitchen

Frankie V's Kitchen, LLC -- http://www.frankievskitchen.com/--
produces and distributes hot sauces, salsas, dressings and
condiments, gourmet soups, and spreads.

Frankie V's Kitchen sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Texas Case No. 19-31717) on May 20,
2019.  At the time of the filing, the Debtor estimated assets of
between $1 million and $10 million and liabilities of between $10
million and $10 million.  The case is assigned to Judge Stacey G.
Jernigan.  Foley & Lardner LLP is the Debtor's legal counsel.

The Office of the U.S. Trustee on June 3 appointed three creditors
to serve on the official committee of unsecured creditors in the
Chapter 11 case of Frankie V's Kitchen LLC.


FUSION CONNECT: Second Lien Lenders Object to Disclosure Statement
------------------------------------------------------------------
The Second Lien Lenders submit an objection to the Motion of Fusion
Connect Inc., et al., for Entry of an Order (I) Approving
Disclosure Statement and Notice of Disclosure Statement Hearing,
(II) Establishing Solicitation and Voting Procedures, (III)
Scheduling Confirmation Hearing, (IV) Approving Confirmation
Objection Procedures and Notice of Confirmation Hearing, and (V)
Granting Related Relief  and the Notice of Filing of Revised
Proposed Order (I) Approving Disclosure Statement and Notice of
Disclosure Statement Hearing, (II) Establishing Solicitation and
Voting Procedures, (III) Scheduling Confirmation Hearing, (IV)
Approving Confirmation Objection Procedures and Notice of
Confirmation Hearing, and (V) Granting Related Relief, which, among
other things, seeks (i) approval of the Amended Disclosure
Statement for Joint Chapter 11 Plan, and (ii) to set the voting
record date.

The Second Lien Lenders complain that the Debtors do not provide
information to allow holders of Second Lien Claims to make an
informed decision about what they can expert to recovery, and,
therefore, how to vote on the Amended Plan.

The Second Lien Lenders further points out that the Debtors do not
provide any information about the causes of action that will be
vested in the Litigation Trust, and offer nothing in support of the
Releases being granted to select Individuals and Institutions
(including Insiders) in the Amended Plan.  Moreover, they assert
that the Amended Disclosure Statement does not provide sufficient
information to evaluate the value of the Second Lien Warrants.

The Second Lien Lenders further complain that the Releases and
Exculpation Contained in the Revised Amended Plan are Impermissibly
Overbroad.

According to Second Lien, if the Amended Disclosure Statement is
approved, the debtors’ proposed deadlines should be extended by
six weeks to allow the Second Lien Lenders sufficient time to
conduct discovery.

The Second Lien Lenders are certain holders of loans issued
pursuant to that certain Second
Lien Credit and Guaranty Agreement, dated as of May 4, 2018 (as
amended, supplemented,
restated or otherwise modified from time to time), among Fusion
Connect, Inc., as borrower, the other Debtors, as guarantors,
Wilmington Trust, as administrative agent and collateral agent, and
the lenders party thereto.

Counsel to the Second Lien Lenders:

     Charles A. Dale, Esq.
     PROSKAUER ROSE, LLP
     One International Place
     Boston, MA 02110-2600
     Telephone: (617) 526-9600
     Facsimile: (617) 526-9899

        -- and --
     
     Michael T. Mervis, Esq.
     Russell T. Gorkin, Esq.
     Joshua A. Esses, Esq.
     Eleven Times Square
     New York, New York 10036-8299
     Telephone: (212) 969-3000
     Facsimile: (212) 969-2900

                      About Fusion

Fusion Connect -- http://www.fusionconnect.com/-- provides
integrated cloud solutions to small, medium and large businesses,
is the industry's Single Source for the Cloud.  Fusion's advanced,
proprietary cloud services platform enables the integration of
leading edge solutions in the cloud, including cloud
communications, contact center, cloud connectivity, and cloud
computing.  Fusion's innovative, yet proven cloud solutions lower
customers' cost of ownership, and deliver new levels of security,
flexibility, scalability, and speed of deployment.

On June 3, 2019, Fusion Connect and each of its U.S. subsidiaries
sought Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No.
19-11811).  Fusion's two Canadian subsidiaries are not included in
the filing.

Fusion disclosed $570,432,338 in assets and $760,720,713 in
liabilities as of April 30, 2019.

Fusion is advised by FTI Consulting and PJT Partners, Inc., as
financial advisors, and Weil, Gotshal & Manges LLP as legal
counsel.  Prime Clerk LLC is the claims agent.

The First Lien Ad Hoc Group is advised by Greenhill & Co, LLC, as
financial advisor, and Davis Polk & Wardwell LLP, as legal
counsel.

The U.S. Trustee for Region 2 formed a committee of unsecured
creditors in the Debtors' cases on June 18, 2019.  The committee is
represented by Cooley LLP.


GARDA WORLD: Fitch Affirms B+ LongTerm IDR, Outlook Stable
----------------------------------------------------------
Fitch Ratings affirmed Garda World Security Corporation's (GW)
ratings, including the Long-Term Issuer Default Rating (IDR) at
'B+'. The Rating Outlook is Stable.

In July 2019, GW announced that UK-based BC Partners will acquire a
51% interest in the company, while the management team (including
founder and CEO Stephan Cretier) will hold the remaining 49%. In
order to fund the purchase and recapitalization transaction, the
company will issue a new US$1.4 billion term loan B and US$779
million in senior notes to take out the existing term loan and
senior notes, increasing debt by US$185 million and net leverage
from 6.0x to 6.7x. The RCF will be upsized from US$232 million to
US$335 million at the same time. If holders of existing bonds
decide not to tender, Fitch expects amount of the 2028 offering to
be reduced accordingly with no credit metric or leverage impact.

As a result of the transaction, Rhone Partners will completely exit
its 61% ownership position, and management will increase its
ownership from 39% to 49%. The transaction values Garda at C$5.2
billion (US$3.94 billion) and closing is expected late 2019. BC
Partners will be Garda's third Private Equity (PE) owner in less
than eight years. Previously, Garda was taken private by a
consortium of management and Apax partners in 2012, valuing the
firm at C$1.1 billion; then Rhone purchased Apax's stake in 2017,
valuing the firm at C$2.2 billion.

Garda's 'B+' IDR reflects the company's relatively high leverage
and opportunistic financial policy, which is offset by its leading
competitive positions in cash and security services, solid and
improving diversification, growing end markets, and ability to grow
profitably through the cycle. While the transaction will
temporarily result in net leverage exceeding its 6.0x target by
0.7x, Fitch expects the company to profitably integrate its recent
acquisitions and return to its leverage target by 2021. In
addition, Fitch is assigning a 'BB+'/'RR1' rating to the new term
loan B and a 'B-'/'RR6' rating to the new 2028 senior notes.

KEY RATING DRIVERS

New Ownership Structure: BC Partners is an established firm which
has raised over EUR25 billion in capital. Its investment in GW is
predicated on buying into an entrepreneurial management team which
operates in an industry with favorable tailwinds. Management has
increased its share of ownership from 26% when it was taken private
in 2012 to 49% currently, and Fitch views this alignment of
interests between the two ownership groups positively.

Highly Leveraged Financial Structure: Following the Whelan and UAS
acquisitions, as well as several tuck-ins in the Security Services
segment, GW's pro forma net debt/EBITDA increased from 6.1x at
January 2017 to 6.7x currently. Fitch expects management to achieve
its 6.0x net leverage target by 2021 through debt repayments,
pricing actions, and the impact of the UAS and Whelan acquisitions.
On a gross basis, Fitch expects total debt/EBITDA to reduce from
7.2x at January 2019 to 6.2x at January 2020 due to improvements in
EBITDA driven mostly by acquisitions.

Opportunistic M&A Approach: GW operates under an opportunistic
financial policy that includes pursuing debt funded acquisitions at
already high leverage levels. Although the company has stated its
near-term priority on bringing down leverage, Fitch believes this
could take longer than the company is forecasting given its recent
history of acquisitions and acquisitive nature. The company has
completed 19 M&A transactions over the past three years, adding
$710 million in revenue and $90 million in EBITDA. The April 2019
Whelan acquisition is already 70% integrated. The company dropped
its intent to acquire the much larger European rival G4S PLC in May
2019, which would have been a transformative transaction for the
company.

US Security Services Entry: Starting with the UAS and Whelan
acquisitions in 2018-2019, GW has begun to ramp up its footprint in
the $25 billion U.S. Security sector. This market has three large
players (AlliedUniversal with a 28% share, Securitas with 18%, and
G4S at 8%) and is otherwise fragmented. Management believes it can
build scale quickly noting its U.S. customer retention rates are
much higher than competitors, and that Garda is already the top
player in the $2.5 billion Canadian Security market.

Profitability Improvements: GW has grown its EBITDA margins
consistently through a time of expansion, from 11.0% in 2016 to an
estimated 12.4% currently, indicating its expertise in acquiring at
reasonable multiples and integrating acquisitions effectively.
Margin improvements through 1Q'20 are driven by recent pricing
increases as well as slight synergies from recent acquisitions.
This reverses some slight margin pressure in fiscal 2019 when GW
experienced higher operating and labor costs. Fitch notes that
margin improvement has further upside given strong organic growth
in both Security Services and Cash Services.

Stable and Growing Markets: The security services market has been
growing at a healthy rate and Fitch expects further growth at least
through the medium term. Organic growth within GW's North American
Security Services segment was 5% the past two years and 4% for the
first quarter of this year; growth in MEA was stronger at 13%.
Management believes the Canadian, U.S., and MEA security services
markets will continue to grow at 3%-4%, 4%-5%, and 6%-7% annually.
The smaller Cash Services segment grew 3.5% organically. GW has
cited significant sales from the cannabis industry in Canada that
is expected to provide growth through the medium term.

Good Competitive and Market Position: GW is a leading provider of
cash management and Security services, and its industry leading
retention rates position it well to defend and grow its share.
Although the company faces strong competition from several other
large multinational competitors, GW's annual revenue of
approximately C$1 billion in its Security Services segment and C$1
billion its Cash Services segment gives it scale to compete
effectively against its peers.

Solid Diversification: GW has good diversification given its large
market positions in both Security and Cash Services segments.
Additionally, within each segment, the company's end market
exposure is diverse including exposure to natural resources,
property management, retail, restaurants, financial institutions,
healthcare, government agencies, and special events.

Moderate FX Risk: GW generates a significant amount of cash flow in
Canada and international markets, although the majority of its debt
is U.S. dollar denominated, exposing it to moderate FX risk when
repaying debt. However, GW's strong market position within the U.S.
cash services market and its growing market position within the
U.S. Security services market should allow the company to generate
adequate cash flow within the U.S. so as to negate any potential FX
movements.

DERIVATION SUMMARY

GW's ratings are driven by the company's relatively high leverage
and opportunistic financial policy, which is partly offset by the
company's good competitive and market positions, solid
diversification, and exposure to growing end markets. Fitch expects
GW's leverage to reduce in 2020 via debt repayments and EBITDA
growth. EBITDA margins have rebounded after a period of mild cost
pressure, and Fitch expects further improvement as the company
benefits from pricing improvements and slight synergies from recent
acquisitions.

GW can be compared to The Brink's Company (BCO; BB+/Stable), a
direct competitor within GW's Cash Services segment. Compared to
Brink's, GW has significantly higher leverage with pro forma net
debt/EBITDA of approximately 6.7x compared to net debt/EBITDA in
the mid-to low-2x range at BCO. Additionally, GW's EBITDA margin is
lower and its FCF generation is comparatively weaker and less
consistent. GW shows superior diversification and a stronger
organic growth outlook due to its presence in the Security Services
segment.

KEY ASSUMPTIONS

Key Assumptions of the Fitch Base Case include:

Revenue: Revenue growth of 7% is modelled for the projection
period, reflecting the CPS and Whelan acquisitions as well as
continued M&A. Organic growth is forecast at 2% in Cash Services
and 6% in Security Services.

M&A: For 2020, the company is forecast to spend $80 million yearly
on acquisitions assuming a 6x multiple and a 12% margin.

EBITDA Margins: Forecast to improve by 90 bps in fiscal 2020 due to
integration synergies and pricing improvements (in line with
improvements already seen to 1Q'20). Going forward, margins are
forecast to improve slightly due to increased fixed cost leverage.

FCF: The company maintains positive FFO and FCF through the period,
as working capital needs are limited. FCF improvement will be
driven by EBITDA margin growth and lower one-time costs associated
with the heavy fiscal 2020 acquisition year.

Capex: Estimated to hold steady at approximately 2.5% of revenue
per year given acquisitions.

Total net debt/EBITDA is expected to decrease to below 6.0x in
fiscal 2020 as GW integrates acquisitions and begins to repay some
of the debt taken on to fund the BC Partners transaction.

RATING SENSITIVITIES

Developments That May, Individually or Collectively, Lead to
Positive Rating Action

  -- An upgrade is unlikely in near term without a significant and
sustained decrease in debt/EBITDA, and a more coherent financial
policy;

  -- Total debt/EBITDA sustained below 5.0x;

  -- FFO adjusted leverage sustained below 5.5x;

  -- Maintaining a FCF margin above 4%;

  -- Maintaining an EBITDA margin above 13%.

Developments That May, Individually or Collectively, Lead to
Negative Rating Action

  -- Pro forma total debt/EBITDA sustained above 6.5x;

  -- FFO adjusted leverage sustained above 7.0x;

  -- Debt funded shareholder-friendly activity, or a significant
acquisition, which weighs upon credit metrics;

  -- Sustained decline in EBITDA margin to below 10%;

  -- FFO fixed charge coverage sustained below 1.5x.

LIQUIDITY AND DEBT STRUCTURE

Fitch expects GW to continue to hold relatively small cash balances
and to fund short-term needs with operating cash flows and draws
from its newly upsized US$335 million senior secured revolving
facility. The company has adequate liquidity with a C$30 million
cash balance and full availability under the revolver at PF close.
The company's funding needs are manageable given GW's low capital
intensity. The majority of new fixed assets are funded through
finance (capital) leases, which decreases annual costs, especially
for Cash Services' new armoured vehicles. The Security Services
segment is an asset-light business and needs minimal capex as well.


GIBSON ENERGY: Moody's Rates C$500MM Unsec. Notes 'Ba2'
-------------------------------------------------------
Moody's Investors Service assigned a Ba2 rating to Gibson Energy
Inc.'s C$500 million senior unsecured notes due 2029. All of
Gibson's other ratings remain unchanged, including the Ba2
Corporate Family Rating, Ba2-PD Probability of Default Rating, Ba2
senior unsecured notes rating and the SGL-3 Speculative Grade
Liquidity Rating. The proceeds of the notes offering will be used
to redeem the C$300 million notes due 2022 and to repay revolver
drawings.

Assignments:

Issuer: Gibson Energy Inc.

  Senior Unsecured Regular Bond/Debenture, Assigned Ba2 (LGD3)

RATINGS RATIONALE

Gibson's Ba2 CFR is supported by 1) stable cash flow from its oil
tanks & terminals business, which now represents about 85% of
EBITDA; 2) take-or-pay and fee-based contracts with mostly
investment grade counterparties with a 10 year average remaining
contract life; and 3) strong adjusted debt/EBITDA of between 3x to
3.5x. Gibson is challenged by 1) its small size compared to other
North American midstream rated companies (2020 EBITDA of around
US$300 million, roughly half the Ba2-rated average and one-fifth
the Ba1-rated average); 2) concentration risk because Gibson's
tanks and terminals are largely located in Hardisty, Alberta,
exposing the company to physical risk and to the economics of
western Canadian oil; and 3) the volatility of cash flow from its
Wholesale segment, which is exposed to commodity price risk,
evident from the roughly C$211 million of segment profit earned in
2018 compared to C$31 million in 2017.

Gibson's senior unsecured notes are rated Ba2, at the CFR, because
almost the entire capital structure is senior unsecured, including
the C$560 million revolving credit facility. The unrated C$100
million unsecured subordinated convertible debentures rank below
all of the senior unsecured debt in the capital structure.

Gibson's liquidity is adequate (SGL-3). At June 30, 2019 and pro
forma for the close of the C$500 million notes offering, the
company will have liquidity sources totally about $150 million and
uses of about C$175 million through to June 2020. Sources consist
of C$72 million in cash and C$80 million of borrowing capacity
under its C$560 million senior unsecured revolving credit facility
due March 2024. Liquidity use is its expectation of negative free
cash flow of about C$175 million. Moody's expects Gibson to be in
compliance with its financial covenant during this period. The next
debt maturity is July 2021 for Gibson's C$100 million subordinated
convertible debentures. Alternative sources of liquidity are good,
as all assets remain unencumbered.

The ratings could be upgraded if Gibson increases the diversity of
its business, adjusted EBITDA grows towards C$700 million (C$480
million LTM June19), debt to EBITDA is below 3.5x and distribution
coverage is above 1.3x.

The ratings could be downgraded if debt to EBITDA trended towards
4.5x or if distribution coverage was below 1x.

Gibson Energy is a Calgary, Alberta-based midstream company engaged
in the movement, storage, optimization, processing, and gathering
of crude oil and refined products.

The principal methodology used in this rating was Midstream Energy
published in December 2018.



HALCON RESOURCES: Files Plan Supplement Documents
-------------------------------------------------
Halcon Resources Corporation and its debtor affiliates filed a plan
supplement in connection with, and in accordance with, the Joint
Prepackaged Chapter 11 Plan of Halcon Resources Corporation and its
affiliated debtors, dated August 2, 2019.

The documents contained in the Plan Supplement are integral to,
part of, and incorporated by reference into the Plan. These
documents have not yet been approved by the Bankruptcy Court. If
the Plan is confirmed by the Bankruptcy Court, the documents
contained in the Plan Supplement will be approved by the Bankruptcy
Court pursuant to the Confirmation Order.
There are also Plan Supplement Documents including agreements,
disclosures, Certificate of Incorporation, bylaws, term sheets, and
contracts, which are not final and remain subject to continuing
negotiations among the Debtors and other interested parties.

The Plan Supplement Documents are:

   -- Exit RBL Agreement

   -- Warrant Agreement

   -- Registration Rights Agreement

   -- Schedule of Retained Causes of Action

   -- New Board Disclosure

   -- Amended Certificate of Incorporation of Reorganized

   -- Halcon Resources Corporation

   -- Amended By-Laws of Reorganized Halcon Resources Corporation

   -- Governance Term Sheet

   -- Schedule of Rejected Executory Contracts and Unexpired
Leases

   -- Reporting Company Election

Full-text copies of the Plan Supplement Documents are available at
https://tinyurl.com/y6x9o8d9

                      About Halcon Resources

Halcon Resources Corporation (OTC PINK: HKRS)is an independent
energy company focused on the acquisition, production, exploration
and development of onshore liquids-rich oil and natural gas assets
in the United States.  During 2017, the Halcon acquired certain
property in the Delaware Basin and divested their assets located in
the Williston Basin in North Dakota and in the El Halon area of
East Texas.  As a result, the properties and drilling activities
are currently focused in the Delaware Basin.  

Halcon Resources and its affiliates previously sought bankruptcy
protection on July 27, 2016 (Bankr. D. Del. Lead Case No. 16-11724)
and emerged from bankruptcy in September 2016 after eliminating
$1.8 billion in long-term debt.

Halcon Resources Corporation, along with its subsidiaries, again
sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No.
19-34446) on Aug. 7, 2019, this time to seek confirmation of a
prepackaged plan that would cut debt by $750 million.

The Debtors disclosed $1,798,838,000 in total assets and
$945,175,000 in total liabilities as of March 31, 2019.

The Debtors tapped Perella Weinburg Partners and Tudor Pickering
Holt & Co. as financial advisors; Weil, Gotshal & Manges LLP as
legal counsel; FTI Consulting, Inc. as restructuring advisor; and
Kurtzman Carson Consultants LLC as claims agent.

Ducera Partners LLC is acting as financial advisor and Paul, Weiss,
Rifkind, Wharton & Garrison is acting as legal advisor to the
Unsecured Noteholders that comprise the Ad Hoc Noteholder Group.

Simpson Thacher & Bartlett LLP is lead counsel for JPMorgan Chase
Bank, N.A., as administrative agent under the Prepetition RBL
Credit Agreement.  RPA Advisors, LLC is the financial advisor for
the prepetition RBL agent.

Stroock & Stroock & Lavan LLP is counsel to Secured Swap Provider,
J. Aron & Company, under the Prepetition Secured Swap Agreements.


HEARTS AND HANDS: Gets Continued Cash Access, Oct. 8 Final Hearing
------------------------------------------------------------------
Judge Gary Spraker of the U.S. Bankruptcy Court for the District of
Alaska authorizes Hearts and Hands of Care, Inc., to use cash
collateral until five days after the final hearing date, to pay
necessary postpetition expenses incurred in the ordinary course of
business based on a modified budget.  

The modified budget provides for $144,741 in total expenditures for
the week beginning Sept. 20, 2019, of which $35,524 is for office
rent; $48,000 for payroll taxes; and $15,000 each for credit cards
and accounts payable.

The Court rules that the Debtor will not use cash collateral to:

   (a) pay any insider or make payments on behalf of any insider,
but may continue to pay (i) Eddie Astoji his prepetition base
salary, and (ii) company-wide health insurance or similar
benefits;

   (b) prepay any expenses;

   (c) pay expenses of affiliated debtors.  The rent payments and
expenses for the Debtor's facility on Brayton Drive consistent with
prepetition practices, however, will not be considered payment of
the affiliated debtors' expenses.

The Court further rules that the replacement liens are deemed fully
perfected.  

Final hearing on the motion is set for Oct. 8, 2019 at 9:30 a.m.

A copy of the Order and the Budget can be accessed for free at

           http://bankrupt.com/misc/Hearts_Hands_74_Cash_ORd.pdf

                   About Hearts and Hands of Care

Hearts and Hands of Care, Inc., which offers respite care services,
sought Chapter 11 protection (Bankr. D. Alaska Case No. 19-00230)
on July 22, 2019.  In the petition signed by CEO Kisha Smaw, the
Debtor estimated assets of at least $50,000 and liabilities at $1
million to $10 million.  The Hon. Gary Spraker is the case judge.
PEYROT AND ASSOCIATES P.C., represents the Debtor.




HELIX TCS: Signs Deal to Sell Note & Warrant for $450,000
---------------------------------------------------------
Helix TCS, Inc., entered into a securities purchase agreement
pursuant to which the Company agreed to sell a secured convertible
promissory note and common stock purchase warrant in reliance on
the exemption from registration provided by Section 4(a)(2) of the
Securities Act and/or Rule 506(b) thereunder, for an aggregate cash
purchase price of $450,000.

The Convertible Note has an initial aggregate principal balance of
$450,000 and bears interest at a rate of 10% per annum.  The
Convertible Note matures on June 16, 2020.  Upon certain events,
the Convertible Note will convert into shares of the Company's
common stock at a per share conversion price equal to $0.90 for the
first 6 months and thereafter the lesser of (a) $0.90 and (b) a 30%
discount to the Company's weighted average listed price per share
for the five lowest days of the 15 consecutive trading days
immediately before the conversion election.  The Convertible Note
has other features, including, but not limited to, a prepayment
penalty, an increased interest rate upon default and adjustments to
the conversion price under certain circumstances.

The Warrant is exercisable for five years to purchase up to an
aggregate of 25,000 shares of the Company's common stock at a price
of $1.00 per share.  The Warrant has anti-dilution provisions that
provide for an adjustment to the exercise price in the event of a
future sale of the company's common stock at a lower price, subject
to certain exceptions.

                        About Helix TCS

Helix TCS, Inc. (OTCQB: HLIX) -- http://www.helixtcs.com/-- is a
provider of critical infrastructure services, helping owners and
operators of licensed cannabis businesses stay competitive and
compliant while mitigating risk.  Through its proprietary
technology suite and security services, Helix TCS provides
comprehensive supply chain management, compliance tools, and asset
protection for any license type in any regulated cannabis market.


Helix incurred a net loss of $8.18 million in 2018 following a net
loss of $10.66 million in 2017.  As of June 30, 2019, the Company
had $62.07 million in total assets, $7.71 million in total
liabilities, and $54.36 million in total shareholders' equity.

BF Borgers CPA PC, in Lakewood, CO, the Company's auditor since
2016, issued a "going concern" qualification in its report dated
March 29, 2019, on the Company's consolidated financial statements
for the year ended Dec. 31, 2018, citing that the Company has
suffered recurring losses from operations and has a significant
accumulated deficit.  In addition, the Company continues to
experience negative cash flows from operations. These factors raise
substantial doubt about the Company's ability to continue as a
going concern.


HESS INFRASTRUCTURE: Fitch Alters Outlook on BB LT IDR to Stable
----------------------------------------------------------------
Fitch Ratings affirmed Hess Infrastructure Partners, LP's Long-Term
Issuer Default Rating at 'BB.' Fitch has also affirmed HESINF's
senior secured rating at 'BB+'/'RR1' and its senior unsecured
rating at 'BB'/'RR4'. The Rating Outlook has been revised to Stable
from Negative.

HESINF's Stable Rating Outlook reflects the Stable Rating Outlook
change to its primary counterparty and 50% JV owner the Hess
Corporation (HES). On Aug. 22, 2019, Fitch affirmed the 'BBB-' IDR
for HES and revised the Outlook to Stable from Negative. Given the
importance of HES to HESINF, a change in the credit quality at HES
will generally be reflected in Fitch's view of HESINF credit
quality.

KEY RATING DRIVERS

HES Bakken Operations Solid: Contractually, HES's (BBB-/Stable)
subsidiaries are the only recipients of all of HESINF's services.
HES guarantees the obligations of these subsidiaries. The
HES-HESINF contracts have fee mechanisms by which HES protects
HESINF from volume downsides and other risks. One type of
protection, minimum volume commitments (MVCs), have from time to
time been triggered for some of HESINF's services. Fitch views HES
as a strong performer with a consistent track record of strong
reserve growth at economical costs. Within the Bakken formation
region, which HES states gets its first call on capital among
operated properties, the company continues to make progress moving
down the cost curve. Since 2017, HES's quarterly Bakken barrel of
oil equivalent production trend has been consistently upward. In
July 2018, HES added a fifth Bakken drilling rig, and in September
2018 the company added a sixth one. Six rigs continue to run in
2019. Hess projects that production in the Bakken should increase
at a compound annual growth rate of approximately 20% between 2018
and 2021.

HESINF is in a joint venture for the Little Missouri 4 natural gas
processing plant, which went into service in the middle of 2019.
HESINF expects to reach its share of full capacity of 100 mmcf/d by
year-end 2019 (total capacity is 200 mmcf/d and 50% is HESINF's).
The growth represented by the Little Missouri 4 plant is
backstopped by expected Bakken growth, which is contractually
provided for under the foundational HES/HESINF contracts.

Expanding Capacity: HESINF is increasing its natural gas processing
capacity from its current position of 350 mmcf/d to 500 mmcf/d by
the middle of 2021. Capacity recently increased to 350 mmcf/d when
Little Missouri 4 came into service. The company will expand the
Tioga gas plant by 150 mmcf/d to 400 mmcf/d by the middle of 2021.

Small Single-Basin Midstream Company: The company serves a single
producing region of the U.S., featuring oil-focused production from
the Bakken formation in North Dakota. In recent years dating back
to 2014 when oil prices collapsed at the end of the year, North
Dakota has not been the largest or fastest growing
hydrocarbon-producing region. Fitch acknowledges that volume risk
is largely mitigated by HESINF's contracts with HES subsidiaries.

Contracts Provide Two-Fold Revenue Protection: HESINF is a 100%
fee-based business. Its fixed-fees are subject to annual
recalculation based HESINF maintaining its targeted return on
capital through the end of 2023 and longer for the terminal and
export agreement. The calculation also incorporates the production
profile of HES. At the end of 2018, the tariff was updated for 2019
and it incorporated factors from 2018 (such as the actual and
forecasted capital expenditures, operating expenses, and the actual
and forecast volumes). In addition to this re-calculation
structure, the suite of contracts provides that near-term total
revenues may be bolstered by minimum volume commitments (MVCs).

In the 2018 10-K of HESINF investee Hess Midstream Partners LP
(NYSE ticker: HESM), it was disclosed that in 2018, minimum volume
shortfall fee payments were $47.5 million (versus of $61.6 million
in 2017). The setting of MVCs is also an annual exercise. MVCs are
established each year for the current year and the two thereafter.
MVCs, once set, cannot be re-set lower. HES, as HESINF's
counterparty, will bear high effective unit-costs in a downside
volume scenario, by operation of the two revenue protection
mechanisms.

DERIVATION SUMMARY

Size is an important differentiating factor for Fitch when rating
gathering and processing companies. Smaller gathering and
processing companies generally do not have a diverse portfolio of
assets from which a choice asset can be sold during challenging
times in their production regions and can restrict the rating. In
2018, HESINF generated approximately $400 million of adjusted
EBITDA (excludes the minority interest attributed to Hess
Midstream). Higher rated EQT Midstream Partners, LP (EQM; BBB-)
generated nearly $1 billion of adjusted EBITDA during the same
year.

The basin served is also a factor in setting the rating for a
gathering and processing company. HES (BBB-/Stable) provides strong
revenue assurance terms in its subsidiaries' contracts with HESINF.
HES is a global upstream producer and a key region for the company
is the Bakken. HES's production in the Bakken has proven to be
solid and HES is very optimistic about growth in the next few
years. Fitch recognizes that production in the Bakken can be
volatile and did fall for the industry from early 2015 until the
middle of 2017. For HESINF's higher rated peer, EQM, its basin, the
Marcellus basin, showed strong growth throughout a period of low
natural gas prices that began in 2012.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within the Rating Case for the Issuer

  -- Gas processing capacity reaches 500 mmcf/d by mid-2021;

  -- Net production volumes in the Bakken from HES have a
     CAGR of about 20% between 2018 and 2021;

  -- Capex in the 2019-2020 period are generally for
     additional well-connects and related assets for gathering.

RATING SENSITIVITIES

Developments That May, Individually or Collectively, Lead to
Positive Rating Action

  -- Positive rating action for HES;

  -- A significant acquisition which diversifies the company's
     business risk and/or increases its size provided that
     leverage (defined as total debt to adjusted EBITDA) stays
     below 5.0x.

Developments That May, Individually or Collectively, Lead to
Negative Rating Action

  -- Negative rating action for HES;

  -- GIP exits HESINF and the new ownership structure vests
     in HES all of HESINF's special board decisions;

  -- Adverse changes in certain terms in the array of HESINF's
     contracts;

  -- Leverage (defined as total debt to adjusted EBITDA) rising
     above 4.0x on a sustained basis in the context of HESINF
     maintaining its current size.

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity: Capex plans are expected to support organic
growth opportunities to its existing systems, and management
anticipates funding these with cash on hand or by using the
company's $600 million revolver due 2022. Maturities are
manageable, with the company's only obligation in the next five
years to keep a step-up amortization schedule on the $200 million
term loan of 0% in year one to 10% in year five (currently in year
two of the term loan). Additionally, Hess Midstream Partners, LP
(HESM), the publicly traded entity within the Hess Infrastructure
corporate structure, maintains a $300 million revolver that matures
in March 2021, which is another source of funding for capex and
operating activities for the same pool of assets. As of June 30,
2019, this facility remains undrawn.

SUMMARY OF FINANCIAL ADJUSTMENTS

Fitch typically calculates midstream energy issuers' leverage by
using an EBITDA figure that excludes profit or distribution
attributable to a non-controlling interest.


HILLMAN GROUP: Moody's Affirms B3 CFR, Outlook Negative
-------------------------------------------------------
Moody's Investors Service downgraded The Hillman Group Inc.'s
Speculative Grade Liquidity rating to SGL-3 from SGL-2.
Concurrently, Moody's affirmed Hillman's Corporate Family Rating at
B3, Probability of Default Rating at B3-PD, first lien term loans
at B2 and senior unsecured notes at Caa2. The rating outlook
remains negative.

"The downgrade in Speculative Grade Liquidity Rating to SGL-3 from
SGL-2 reflects Moody's expectation that Hillman will only generate
a modest level of free cash flow over the next year, and have a
higher reliance on the revolving credit facility than initially
anticipated," said Vladimir Ronin, lead analyst for the company.

Moody's took the following rating actions for The Hillman Group
Inc.:

Ratings Affirmed:

   Corporate Family Rating, Affirmed at B3

   Probability of Default Rating, Affirmed at B3-PD

   Gtd First lien senior secured term loan due 2025,
   Affirmed at B2 (LGD3)

   Gtd First lien senior secured delayed draw term loan
   due 2025, Affirmed at B2 (LGD3)

   Senior unsecured notes due 2022, Affirmed at Caa2 (LGD5)

Ratings Downgraded:

Speculative Grade Liquidity Rating, Downgraded to SGL-3 from SGL-2

Outlook Actions:

  Outlook remains negative

RATINGS RATIONALE

Hillman's B3 CFR reflects its very high Moody's adjusted
debt/EBITDA of 7.8 times, for the LTM period ended June 30, 2019,
aggressive financial policies and a history of a debt-funded
acquisition strategy. Risks associated with private equity
ownership and potential shareholder-friendly actions that could be
detrimental to lenders also increase credit risk. At the same time,
the rating is supported by the stable demand for Hillman's products
as a result of their replenishment nature and low price points, and
thus stable revenues with only modest cyclicality. The company also
has a track record of successful integration of acquisitions, a
demonstrated ability to modestly de-lever through EBITDA growth,
long-standing relationships with well-recognized retailers and good
geographic diversification within the US and Canada. The credit
profile is also supported by Moody's forecast for an improvement in
operating margins in 2020 that Moody's expects will be sustained,
along with modest positive projected free cash flow generation.
Over the next 12-18 months, Moody's expects Hillman's revenues to
grow in the low single-digits, and operating margins to modestly
benefit from various cost initiatives, and pricing actions.

The negative outlook reflects Hillman's aggressive acquisition
strategy, resulting in a significant increase in debt and interest
burden, which Moody's believes will constrain the company's free
cash flow over the next year. Moody's expects that over the next 12
to 18 months the company will generate low single-digit organic
revenue growth, focus on margin improvement and continue to
modestly de-lever, while maintaining adequate liquidity.

A downgrade may occur if the company is unable to realize
sufficient targeted earnings and margin enhancements from the
acquisitions and operating initiatives to reduce debt to EBITDA
sustainably below 8.0x, or if EBITA to interest coverage declines
below 1.0x. Persistently weak operating margins or free cash flow
generation, liquidity deterioration or a material debt-financed
acquisition would also pressure the ratings. Additionally, ratings
could be downgraded should the company fail to strengthen its cash
flow generation such that it provides sufficient cushion to absorb
a potentially higher cost of capital as it seeks to refinance its
2022 debt maturities.

Ratings could be upgraded if the company demonstrates a commitment
to more conservative financial policies and achieves solid revenue
growth and margin gains that improve free cash flow, credit metrics
and liquidity. Quantitatively, an upgrade would require adjusted
debt to EBITDA sustained below 6.0x, EBITA to interest coverage
above 2.0x, and free cash flow to debt over 5%.

The principal methodology used in these ratings was Consumer
Durables Industry published in April 2017.

The Hillman Group Inc. headquartered in Cincinnati, OH, is a
product and services provider in the hardware and home improvement
industry. The company sells hardware including fasteners, rods,
keys, tags and signs to retailers in the United States, Canada,
Mexico, Latin America, and the Caribbean, and provides related
services, including installing and maintaining key duplication and
engraving machines. As of June 2014, Hillman is majority-owned by
CCMP Capital Advisors with Oak Hill Capital Partners holding a
minority interest ownership of approximately 17%. In the last
twelve months ended June 30, 2019, the company generated
approximately $1.2 billion in revenues (pro forma for recent
acquisitions).


HUMMEL STATION: S&P Cuts Senior Secured Term Loan B Rating to 'B'
-----------------------------------------------------------------
S&P Global Ratings lowered its issue-level rating on Hummel Station
LLC's senior secured term loan B to 'B' from 'BB-'. The '2'
recovery rating is unchanged, indicating its expectation for
substantial (70%-90%; rounded estimate: 80%) recovery.

The downgrade of Hummel's senior secured term loan B to 'B' from
'BB-' reflects the project's underperformance in the first half of
2019, caused by the continued declined of wholesale on- and
off-peak power prices, decreased load, and low natural gas prices
in the PJM region. Given S&P's expectation that power prices in PJM
will remain relatively low in the next 12 to 18 months, it expects
debt service coverage ratio (DSCR) around 1.22x in 2019 and 2020,
which are lower than its previous expectations.

"The negative outlook reflects our expected debt service coverage
ratio (DSCR) of 1.22x over the next 12 months, which provides the
project with limited headroom under its 1.15x DSCR debt covenant.
We anticipate that the unfavorable market conditions in PJM caused
by energy oversupply and declining gas prices will continue during
the next 12 to 18 months, and may prevent Hummel from remaining
compliant with the minimum DSCR covenant," S&P said.

"We could lower the rating to 'B-' due to a weaker energy and
capacity market or performance below our expectations, resulting in
a DSCR approaching 1.15x within the next 6-12 months or higher
expected debt outstanding at maturity. We could also lower the
rating if the project fails to sweep cash to the senior debt as
expected, leading to increased refinancing risk and a PLCR below
1.1x," S&P said.


ICON CONSTRUCTION: BOKF to Get $172K Over 5 Years With 6%
---------------------------------------------------------
Icon Construction, Inc., filed a First Modification to First
Amended Plan of Reorganization.

Class 2: Allowed Secured Claim of BOKF, NA. This claim shall be
paid once Allowed as follows: The Allowed Secured Claim of BOKF, NA
is secured by real and personal property owned by a non-debtor.
BOKF, NA has filed a secured claim in this case related ONLY to two
pieces of real property owned by the Debtor. The Allowed Secured
Claim of the Bank shall be paid in the approximate amount of
$172,000.00 (or such amount as determined by the Court) over 5
years with an annual interest rate thereon of 6%. This results in
an estimated monthly payment of $3,325.34 to BOK. The first payment
shall be due on the first day of the month following the Plan’s
Effective Date. Icon will also pay the BOK claims as follows: BOK
has a projected unsecured claim in the amount of $2,757,474.93
which will be paid in the unsecured claim class. BOK has a secured
claim in the amount of $172,000.00 which will be paid in this Class
2. This treatment meets the requirements in Section 1129(a) and
(b). There is no balloon payment in the Plan.

A full-text copy of the First Modification to First Amended Plan of
Reorganization dated September 20, 2019, is available at
https://tinyurl.com/y6jpjdsn from PacerMonitor.com at no charge.

Attorneys for Debtor:

     Joyce W. Lindauer, Esq.
     Jeffery M. Veteto, Esq.
     12720 Hillcrest Road, Suite 625
     Dallas, Texas 75230
     Telephone: (972) 503-4033
     Facsimile: (972) 503-4034

              About Icon Construction

Icon Construction -- http://icon-construction.com/ -- is a small
business general contractor specializing in design/build of
permanent modular and temporary modular buildings. Since April 1,
1998 Icon Construction has been able to meet the space needs of
major markets, including military,education, administration
facilities, health care, government, commercial and residential
manufacturing.

Icon Construction, Inc., based in McKinney, TX, filed a Chapter 11
petition (Bankr. E.D. Tex. Case No. 19-40279) on Feb. 1, 2019.  In
the petition signed by Mansour Khayal, president, the Debtor
estimated $500,000 to $1 million in assets and $1 million to $10
million in liabilities.  The Hon. Brenda T. Rhoades oversees the
case.  Joyce W. Lindauer,Esq., at Joyce W. Lindauer Attorney, PLLC,
serves as bankruptcy counsel to the Debtor.  Glast Phillips &
Murray, P.C., is the special counsel.


INLAND FAMILY PRACTICE: US Trustee Seeks Hearing on PCO Appointment
-------------------------------------------------------------------
In a February 6, 2019, Order, the Bankruptcy Court held in part
that if Inland Family Practice Center, LLC, "experiences any
negative trend which indicates the need for the appointment of a
patient care ombudsman in the future, the Court shall reconsider
the need for the appointment of a patient care ombudsman upon
notice and a hearing from a motion filed by a party in interest or
the United States Trustee."

On August 9, 2019, Creditor Comprehensive Radiology Services, PLLC,
filed its motion to terminate the automatic stay to allow the
creditor to terminate an executory contract.  The motion to lift
the automatic stay states that recent x-rays provided by the Debtor
"are not readable," and Comprehensive Radiology alleges the x-rays
are not being conducted in compliance with community medical
standards.

This case has been open for about eight months, but the Debtor has
been unable to confirm a plan of reorganization.

Accordingly, the United States Trustee asks for a hearing to
determine if a patient care ombudsman is necessary.

                About Inland Family Practice Center

Inland Family Practice Center, LLC --
http://www.inlandfamilypractice.com/-- is a privately-owned family
practice clinic serving Hattiesburg and South Eastern Mississippi.

Established in 2008, the company has a state of the art facility
in Hattiesburg.

Inland Family Practice Center filed a Chapter 11 petition (Bankr.
S.D. Miss. Case No. 19-50020) on Jan. 3, 2019.  In the petition
signed by Ikechukwu Okorie, sole member, the Debtor estimated up to
$50,000 in assets and $1 million to $10 million in liabilities.
The Debtor tapped Sheehan Law Firm, PLLC as its legal counsel, and
Mitchell Day Law Firm, PLLC as its special counsel.


INVERSIONES CARIBE: Confirmation Held in Abeyance
-------------------------------------------------
Inversiones Caribe Delta, Inc., filed an Amended Plan of
Reorganization to include an alternate scenario, which considers
treatment of Condado 2, LLC's Claim No. 7 in the total amount of
$4,685,595 under the Plan with interest as required by the
prevailing case law.

The Court convened a hearing on the Disclosure Statement on
September 11.  The Debtor was granted 10 days to file and notify an
amended Disclosure Statement and Plan, with a 21-day objection
language, including an alternate scenario in the event the Debtor
does not prevail on its objection to Condado's claim. If no
objections to the Amended DisclosureStatement are timely filed, it
may be approved without a hearing.  Regarding Debtor's Objections
to Condado's Claim, the parties are granted 30 days to obtain
certified translations of supporting documents and 60 days to file
a Joint Pretrial Report on the legal issue of the interest rate.
Once the pretrial report is filed, a pretrial conference and oral
arguments will be scheduled.  Confirmation hearing is held in
abeyance until resolution of the objection to claim.

Class 7: General Unsecured Claims - This class shall consist of any
and all unsecured claim scheduled or filed by any party. The Debtor
listed unsecured creditors in the total amount of $139,670.50. The
Debtor proposes to pay holders of allowed claims under this Class a
5% dividend of their allowed claim in a term of sixty (60)
consecutive months, commencing on the Effective Date. This class is
impaired.

Class 3: Secured Creditor Crim - Ponce Property. This class shall
consist of the allowed secured claim of CRIM on account of the
Ponce commercial property. The Debtor listed CRIM as a secured
creditor on account of the property taxes over the Ponce real
estate property in the total amount of $240,160.19. Any and all
allowed claims under this class will be paid on or before 60 months
from the date of relief, in monthly payments including interest at
the prevailing prime rate. This class is impaired.

Class 4: Secured Creditor Crim - Dorado property. This class shall
consist of the allowed secured claim of CRIM on account of the
Dorado commercial property. The Debtor listed CRIM as a secured
creditor on account of the property taxes over the Ponce real
estate property in the total amount of $240,160.19. CRIM filed
Proof of Claim No. 1 with a claim in the total amount of
$388,636.84 with a secured portion of $134,018.74. Any and all
allowed claims under this class will be paid on or before 60 months
from the date of relief, in monthly payments including interest at
the prevailing prime rate. This class is impaired.

Class 5: Secured Creditor Condado 2, Llc ("Condado") - This class
shall consist of the allowed secured claim of Condado.  Condado
acquired at a discount, the secured claim previously held by
Firstbank Pueflo Rico ("Firstbank"), Debtor's original secured
lender. The Debtor proposes two alternate treatments to Condado's
secured claim, once the same is allowed by the Court:

   (i) Condado shall retain its liens under the plan and payment of
the allowed secured claim will be made in full plus interest at the
Judgment Rate. The Debtor proposes to restructure Condado's allowed
secured claim, which is estimated in the amount of $3,895,758.77.
The allowed amount will be restructured with a thirty (30) year
amortization table, to be paid in one hundred and twenty (120)
consecutive monthly installments, bearing 3.5% interest and a final
balloon payment equal to the aggregate outstanding principal
balance, plus any accrued and unpaid interest thereon. Under this
scenario, this class will be impaired.

  (ii) In the alternative, the Debtor and Preserba propose payment
on the Effective Date of the amount of $5,000,000.00 which is the
outstanding balance of the Judgment as per the Settlement Amount.
This lump sum payment will be made in full settlement and payment
of all claims held by Condado against both Debtors on the Effective
Date. Under this scenario, this class will be not impaired.

Class 8 - Equity Security and/or Other Interest Holders. This class
includes all equity and interest holders who are the owners of the
stock of the Debtor. This class shall not receive a dividend under
the Plan and is not entitled to vote.

The proposed plan will be funded with Debtor's own assets, the
collection of any account receivables, Debtor's cash in bank, funds
from Debtor's post petition operations including new leases, a
capital contribution from Debtor's shareholder, as the same is
needed and if Condado accepts the alternative treatment of payment
on the Effective Date, a post petition financing in the amount of
$5,000,000.00.

A full-text copy of the Amended Disclosure Statement is available
at https://tinyurl.com/y3fbstvg from PacerMonitor.com at no
charge.

A full-text copy of the Amended Plan is available at
https://tinyurl.com/y5z77qqc from PacerMonitor.com at no charge.

Attorney for the Debtor:

     Carmen D. Conde Torres, Esq.
     C. CONDE & ASSOC.
     San Jose Street #254, 5ff Floor
     San Juan, P.R. 00901-1253
     Tel: (787) 729-2900
     Fax: (787) 729-2203
     E-mail: condecarmen@condelaw.com

                  About Inversiones Caribe

Inversiones Caribe owns a parcel of land in Dorado, Puerto Rico,
which is valued at $6 million, and a commercial property in Ponce,
Puerto Rico, which is valued at $1.4 million.

Inversiones Caribe Delta filed a Chapter 11 petition (Bankr. D.P.R.
Case No. 19-00388) on Jan. 29, 2019.  In the petition signed by
Carlos F. Muratti, president, the Debtor disclosed $7,415,061 in
assets and $3,619,549 in liabilities.  The case has been assigned
to Judge Brian K. Tester.  Carmen D. Conde Torres, Esq., at C.
Conde & Assoc., is the Debtor's counsel.

The case is jointly administered with the Chapter 11 case of
Preserba Compania de Desarrollos, Inc. (Case No. 19-00387).


J. CREW: S&P Cuts ICR to 'CCC-' on High Risk of Recapitalization
----------------------------------------------------------------
S&P Global Ratings lowered the issuer credit rating on U.S.-based
apparel retailer J. Crew Group Inc. to 'CCC-' from 'CCC'.

At the same time, S&P lowered its issue-level ratings on the
company's intellectual property notes to 'CCC+' from 'B-' and
secured term loan facility to 'CC' from 'CCC-'. The recovery
ratings on the debt facilities are unchanged.

The downgrade came after the company announced it is pursuing an
IPO of its Madewell concept and disclosed details of prior
proposals with its lenders related to the recapitalization of its
balance sheet, including proposed exchanges of debt that S&P would
likely view as a distressed.

The downgrade is based on S&P's belief that J. Crew's capital is
unsustainable and the company will likely pursue a restructuring by
the end of this calendar year. Its ratings reflect J.Crew's
progress on the Madewell IPO and disclosure that it had negotiated
with stakeholders to recapitalize its debt in a manner the rating
agency would likely view as less than the original promise and
tantamount to a default. With the Madewell IPO underway, S&P
believes the ultimate restructuring of J. Crew's debt obligations
could come within the next six months, although the company
indicated that no further discussions are currently scheduled with
its ad hoc group of lenders.

The negative outlook on J. Crew reflects S&P's belief that the
company could pursue a distressed exchange or debt restructuring in
the next six months.

"We would lower our rating on the company if J. Crew announces a
distressed exchange, debt restructuring, or recapitalization where
debt holders received less than the original promised terms," S&P
said.

"We could raise our ratings on J. Crew if we expected it to
refinance its upcoming debt maturities at par," the rating agency
said, adding that this could occur if debtholders halt negotiations
on a potential exchange, possibly because of a very high valuation
of Madewell in conjunction with J. Crew's operating trends
improving substantially, while performance improves to the point
where a traditional refinancing is likely.


JAUREGUI TRUCKING: Seeks Further Cash Access, Pay Creditor $40K
---------------------------------------------------------------
Jauregui Trucking, Inc., seeks further permission from the U.S.
Bankruptcy Court for the Central District of California to use cash
collateral to pay ordinary operating business expenses.

The Debtor says it is trying to negotiate a cash collateral
stipulation with Pacific Premier Bank but that it needs to ask
Court permission should negotiations take longer than anticipated
or are not successful.

As adequate protection to Pacific Premier, the Debtor proposes to
(a) pay $40,000 monthly, (b) provide a replacement lien with the
same validity, priority and description of collateral to that which
Pacific Premier held prepetition.  The Debtor also discloses that
its income has significantly increased over the past months.  

The budget for September 2019 provides for $763,617 in total
expenses of which $345,000 is for payroll; $160,000 for fuel;
$74,165 for truck-related insurance; and $50,000 for payments to
independent contractors.  

A copy of the Motion and the Budget can be accessed for free at:

        http://bankrupt.com/misc/Jauregui_28_Cash_MO.pdf

                       About Jauregui Trucking

Jauregui Trucking, Inc., is a trucking company in Ontario,
California.  It operates 44 trucks and at least 200 dry van
trailers, and employs 75 drivers and other employees.  

Jauregui Trucking sought Chapter 11 protection (Bankr. C.D. Cal.
Case No. 19-17537) on Aug. 27, 2019.  In the petition signed by
Frank Jauregui, president, the Debtor disclosed total assets of
$3,004,195 and total liabilities of $6,469,273.  Judge Mark D.
Houle is the case judge.  The Debtor's counsel is The Bisom Law
Group.



JO-ANN STORES: S&P Lowers ICR to 'B-'; Outlook Negative
-------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Hudson,
Ohio-based fabric, sewing, and crafts retailer Jo-Ann Stores
Holdings Inc. (Jo-Ann) to 'B-' from 'B'.

At the same time, S&P lowered its issue-level rating on the
company's first-lien secured credit facility to 'B-' from 'B'. The
'3' recovery rating is unchanged. S&P also lowered its issue-level
rating on the company's second-lien term loan to 'CCC' from 'CCC+'.
The '6' recovery rating is also unchanged.

In S&P's view, Jo-Ann's efforts to mitigate tariff-related
pressures are slow to materialize, while fierce competition limits
the company from passing on cost increases to consumers. The
downgrade follows Jo-Ann's second-quarter results. It reported a
mid-single-digit decline in comparable-store sales accompanied by
significant EBITDA margin erosion. With a significant portion of
its cost of goods sold (COGS) originating in China, the company's
inventory costs inflated noticeably while reduced promotional
cadence was met with resistance from consumers. Based on the
discretionary nature of the company's products as well as the
increasingly competitive environment, S&P believes passing on this
cost to customers through price increases will remain challenging.

The negative outlook on Jo-Ann reflects S&P's view that competitive
and macroeconomic pressures along with tariffs offer a credible
threat to its capital structure. S&P expects the company to
mitigate sufficient tariff-related cost pressures in fiscal 2021
and generate only modestly positive free cash flow. The rating
agency expects adjusted debt to EBITDA in the mid-5x area over the
next 12 months. Jo-Ann is subject to significant execution risks as
it navigates a highly competitive environment with cost pressures
mounting quickly.

"We could lower the rating if we view Jo-Ann's capital structure as
unsustainable. This could occur if, for example, it fails to
sufficiently address increasing tariff-related costs and declining
traffic trends, and if we do not expect meaningful improvement to
its operating prospects and substantially positive free cash flow.
If we expect EBITDA to deteriorate materially beyond our forecast
or refinancing challenges for debt, including the asset-based
lending (ABL) facility over the next year, we could lower the
rating," S&P said.

"We could revise the outlook to stable if Jo-Ann meaningfully
improves its operating prospects by mitigating tariff pressures.
For a stable outlook, we expect the company to generate
substantially positive free cash flow on a sustained basis with no
concessions to planned capital spending," S&P said, adding it would
also need to believe that competitive threats have subsided, with
flat to positive comparable-store sales growth and gross margins
maintained in line with our base case.


JOSEPH'S TRANSPORTATION: May Continue Using Cash Through Nov. 6
---------------------------------------------------------------
The Hon. Frank J. Bailey of the U.S. Bankruptcy Court for the
District of Massachusetts authorized Joseph's Transportation,
Inc.'s use of Brookline Bank cash collateral through Nov. 6, 2019
pursuant to the terms and conditions as identified on the record at
the hearing and as previously allowed.

The Debtor is required to file a further Motion for Use of Cash
Collateral on or before Oct. 25, 2019 and the Court will hold a
hearing on Nov. 6, 2019, at 10:30 a.m. Objections must be filed by
4:30 p.m. on Nov. 1.

                  About Joseph's Transportation

Joseph's Transportation is a family-owned and operated full
transportation company that has been serving the New England area
for more than 40 years.  Joseph's Transportation filed a voluntary
petition for relief under Chapter 11 of the Bankruptcy Code (Bankr.
D. Mass. Case No. 18-14282) on Nov. 11, 2018.  In the petition
signed by Joseph Albano III, president, the Debtor estimated assets
of $500,001 to $1 million and liabilities of the same range.  The
Law Office of Gary W. Cruickshank serves as counsel to the Debtor.




KAIROS HOMES: Allowed to Use Sales Proceeds From Weatherford Assets
-------------------------------------------------------------------
The Hon. Mark X. Mullin of the U.S. Bankruptcy Court for the
Northern District of Texas has signed an amended interim agreed
order authorizing Kairos Homes, L.L.C. to use cash collateral in
the ordinary course of its business.

The Debtor is authorized to sell the properties described as: (i)
Lot 6 Block 2 Phase 3 Clairmont, City of Weatherford, Parker
County, TX; (ii) Lot 15 Block 1 Phase 4 Clairmont, City of
Weatherford, Parker County, TX; (iii) Lot 11 Block 1 Phase 3
Clairmont, City of Weatherford, Parker County, TX; (iv) Lot 9 Block
1 Phase 3 Clairmont, City of Weatherford, Parker County, TX; (v)
Lot 10 Block 1 Phase 3 Clairmont, City of Weatherford, Parker
County, TX; (vi) Lot 5 & 6 Block 1 Phase 3 Clairmont, City of
Weatherford, Parker County, TX; and (vii) Lot 2 Block 1 Phase 3
Clairmont, City of Weatherford, Parker County, TX, free and clear
of all judgment liens, liens and encumbrances except money, and all
unpaid ad valorem property tax liens. The Internal Revenue
Service's liens now attach to the proceeds from the sale and not
the real property.

Brian Frazier, president of Kairos Homes, is granted authority to
sign the closing and conveyance documents. The Court also ordered
that all expenses are to be paid out of seller's proceeds,
including all title company charges and for such additional costs
of closing as the Bankruptcy Trustee or Debtor may authorize in
writing and at their discretion.

The Debtor is directed to submit to the Internal Revenue Service a
payment in the amount of (i) $40,000 each directly from the title
company upon the closing of Lot 6 Block 2 and Lot 10 Block 1; and
(ii) $20,000 each directly from the title company upon the closing
of Lot 9 Block 1, Lot 15 Block 1, Lot 11 Block 1, Lot 2 Block 1 and
Lot 5 & 6 Block 1, as adequate payment for the use of the cash
collateral specifically from the sale of the listed properties in
Weatherford, Texas. Such payment will be made upon the closing of
the sale of this property and made payable to the Department of
Justice and sent to the U.S. Attorney's Office, 1100 Commerce St.
Ste. 300, Dallas, Texas 75242.

In addition, the Amended Interim Agreed Order states that all ad
valorem property taxes for year 2018 and a portion of the ad
valorem taxes for 2019 and all prior years will be paid in full at
the sale closing with the liens that secure all amounts owed for
any unpaid years remaining attached to the property and becoming
the responsibility of the purchaser. The purchasers will be
responsible for the ad valorem taxes due after closing for the
remainder of 2019 pro-rata.

The Debtor is allowed to use the net proceeds from the sale of the
listed properties to satisfy post-petition payroll, materials,
subcontractors, rent, bills and other miscellaneous expenses.

The Debtors will be entitled to utilize cash collateral of the
Internal Revenue Service only for ordinary business expenses,
consistent with the cash flow projections of the Debtor and may
exceed the line item in the cash flow projection by not more than
10% without a variance sought by the Debtor and approved by the IRS
in writing (including email), or approved by order of the Court.

Among other terms, the Amended Interim Agreed Order provides that:

      (a) The IRS will be granted replacement liens on
post-petition cash collateral and property of the Debtors,
including inventory, accounts receivable, cash, cash equivalents,
intangibles, and all other post-petition property of the Debtors
which would constitute the IRS' prepetition collateral, including
proceeds and products thereof to the same validity, extent and
priority of the IRS' liens prior to the Petition Date. These liens,
if any, will be in addition to the liens that the IRS had in the
assets of the Debtor as of the petition date.  The replacement
liens will not extend to Chapter 5 causes of action and will be
limited to the decline, if any, in the value of the IRS' collateral
by virtue of the Debtor's use.

      (b) The Debtors will file all past due tax returns, if any,
(including, but not limited to, income, excise, employment, and
unemployment returns) within 60 days of the entry of the Interim
Agreed Order and will file such return with Leo Carey, Bankruptcy
Specialist, IRS, Insolvency Group II, Stop: MC5026DAL, 1100
Commerce St., Dallas, Texas 75242.

      (c) The Debtors will file all post-petition federal tax
returns on or before the due date, and will pay any balance due
upon filing of the return.

      (d) The Debtors will, during the pendency of this bankruptcy
case, provide proof of deposit of all federal trust fund taxes
within 7 days from the date on which they are deposited.

      (e) Upon reasonable notice, the Debtors will, during the
pendency of Debtors' case, permit the IRS to inspect, review, and
copy any financial records of the Debtor.

                        About Kairos Homes

Kairos Homes, L.L.C. -- http://www.kairoshomesllc.com/-- is a home
builder in Fort Worth, Texas.  Kairos Homes filed a Chapter 11
petition (Bankr. N.D. Tex. Case No. 18-43969) on Oct. 3, 2018.  In
the petition signed by Brian Frazier, president, the Debtor
disclosed $3,006,914 in assets and $1,116,717 in liabilities.  The
Hon. Mark X. Mullin oversees the case.  John Park Davis, Esq., at
Davis Law Firm, serves as bankruptcy counsel.



LASALLE GROUP: PCO Files 2nd Interim Report for Cinco Ranch
-----------------------------------------------------------
Susan N. Goodman, Patient Care Ombudsman for The LaSalle Group,
Inc., filed a second interim report for Cinco Ranch Memory Care,
LLC.

Cinco Ranch had an occupancy of thirty-one (31) on the date of
PCO's visit with thirty residents (30) on site. The Assistant
Executive Director ("AED") who covers this location was off on the
date of PCO's visit, so items were discussed with the West Houston
Executive Director ("ED") who supports the AED. PCO met briefly
with the Director of Healthcare ("DOH").

In the interim reporting period, the DOH had one medication
technician departure, conservatively reported as at least partially
attributable to the bankruptcy.

She reported filling in on weekend shifts when needed to ensure
staffing coverage while the vacancy is filled. At the time of PCO's
visit, PCO noted one medication technician and four caregivers.
Kitchen coverage was accomplished with one team member. The
caregiver team reported that two dryers were non-functional,
creating challenges in laundry completion flow. The evening shift
was trying to get additional loads done on their shift to assist
the overnight team. Sufficient laundry soap was reported with the
extra supply kept in the medication room to ensure 24/7
availability.

Caregiver staff denied current shortages of disposable and
incontinence supplies, although echoed the feedback of the other
locations regarding operational challenges associated with supply
flow in the interim reporting period. The ice machine that was
reported as broken in PCO's First Report was replaced. The tilt
skillet grill and one steam table well remain non-operational.
Resident impact was denied. PCO reviewed refrigerated, frozen, and
dry stock food stores. The delivery had occurred on the date of
PCO's visit.

Again, while the Cinco Ranch location had the most complete
documentation associated with food delivery, opening and storage
dates, and various temperature logs—limited documentation gaps
were noted.

Although PCO did not observe resident care decline and, the
bankruptcy does appear to be having some operational impact.
Certainly, across the various locations, laundry equipment repair
delays and changes in cleaning and detergent supply vendors appear
to be financially related. Landscaping maintenance and pest vendor
replacement delays are likely similarly related.

Given these various dynamics, PCO would not be comfortable moving
to remote-only monitoring and would need to plan on additional site
visits in forty-five to sixty days if other case resolution does
not occur.

A full-text copy of the PCO's Report is available at
https://tinyurl.com/y5kd9axc from PacerMonitor.com at no charge.

The PCO can be reached at:

     Susan N. Goodman
     Pivot Health Law, LLC P.O.
     Box 69734 Oro Valley, AZ 85737
     Phone: (520) 744-7061
     Fax: (520) 575-4075
     Email: sgoodman@pivothealthaz.com

                      About The LaSalle Group

The LaSalle Group, Inc., along with certain of its subsidiaries,
designs, develops, builds, and owns interests in memory care
assisted living communities designed specifically for people with
Alzheimer's and other forms of dementia.  The communities operate
under the name Autumn Leaves.

LaSalle is a holding company for numerous wholly owned, non-debtor
subsidiaries and affiliates.  It directly and indirectly owns
interests in 40 memory care assisted living communities located in
Texas, Illinois, Georgia, Florida, Kansas, Missouri, Oklahoma,
South Carolina, and Wisconsin.

LaSalle and its subsidiaries sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 19-31484) on
May 2, 2019.  At the time of the filing, the Debtors estimated
assets of between $10 million and $50 million and liabilities of
the same range.  

The cases are assigned to Judge Stacey G. Jernigan.

The Debtors tapped Crowe & Dunlevy, P.C. as their legal counsel;
Haynes and Boone, LLP as special counsel; Karen Nicolaou of Harney
Partners Management, LLC as chief restructuring officer; and
Donlin, Recano & Company, Inc. as claims and noticing agent.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on July 3, 2019.


LASALLE GROUP: PCO Files 2nd Interim Report for Pearland
--------------------------------------------------------
Susan N. Goodman, Patient Care Ombudsman for The LaSalle Group,
Inc., filed a second interim report for Pearland Memory Care, LLC.

The day before PCO's site visit, landscaping services were
provided. Staff described the grass as approximately 8 inches tall
with extensive weeds at the time the service was provided. One
prospective resident placement was reported as potentially lost due
to the appearance of the landscaping.

The replacement pest control vendor was reported as not yet in
place with the site Maintenance Manager providing breakthrough
treatment coverage awaiting new contract implementation. However,
in the interim period the Life Safety visit did get accomplished
and is up-to-date. Staff was continuing to utilize the liquid soap
concentrate although no measuring devices to assist them with
dispensing a consistent amount from the 2.5-gallon container were
noted. PCO checked the four laundry areas for soap, noting that two
were out of soap and a third was close to being out.

The Maintenance Manager had two additional 2.5-galloon containers
available to place in the laundry areas. At the time of PCO's
visit, one individual was working in the kitchen. Additional
resident water was noted in the dry food stores. PCO reviewed
kitchen log documentation. Consistent recording of food preparation
temperatures was recommended.
Although PCO did not observe resident care decline as contemplated
under 11 U.S.C. §333, the bankruptcy does appear to be having
operational impact. Certainly, across the various locations,
laundry equipment repair delays and changes in cleaning and
detergent supply vendors appear to be financially related.
Landscaping maintenance and pest vendor replacement delays are
likely similarly related.

Therefore, given these various dynamics, PCO would not be
comfortable moving to remote-only monitoring and would need to plan
on additional site visits in forty-five to sixty days.

A full-text copy of the PCO's Report is available at
https://tinyurl.com/y5sqcxeg from PacerMonitor.com at no charge.

The PCO can be reached at:

     Susan N. Goodman
     Pivot Health Law, LLC P.O.
     Box 69734 Oro Valley, AZ 85737
     Phone: (520) 744-7061
     Fax: (520) 575-4075
     Email: sgoodman@pivothealthaz.com

                      About The LaSalle Group

The LaSalle Group, Inc., along with certain of its subsidiaries,
designs, develops, builds, and owns interests in memory care
assisted living communities designed specifically for people with
Alzheimer's and other forms of dementia.  The communities operate
under the name Autumn Leaves.

LaSalle is a holding company for numerous wholly owned, non-debtor
subsidiaries and affiliates.  It directly and indirectly owns
interests in 40 memory care assisted living communities located in
Texas, Illinois, Georgia, Florida, Kansas, Missouri, Oklahoma,
South Carolina, and Wisconsin.

LaSalle and its subsidiaries sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 19-31484) on
May 2, 2019.  At the time of the filing, the Debtors estimated
assets of between $10 million and $50 million and liabilities of
the same range.  

The cases are assigned to Judge Stacey G. Jernigan.

The Debtors tapped Crowe & Dunlevy, P.C. as their legal counsel;
Haynes and Boone, LLP as special counsel; Karen Nicolaou of Harney
Partners Management, LLC as chief restructuring officer; and
Donlin, Recano & Company, Inc. as claims and noticing agent.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on July 3, 2019.


LASALLE GROUP: PCO Files 2nd Interim Report for Riverstone
----------------------------------------------------------
Susan N. Goodman, Patient Care Ombudsman for The LaSalle Group,
Inc., filed a second interim report for Riverstone Memory Care,
LLC.

Riverstone's census on the date of PCO's second site visit was
twenty-one (21). At the time of PCO's visit, the clinical team
included a medication technician and two care givers. One caregiver
was working a double shift to cover another team member who had a
family emergency.

PCO followed up with the ED by phone following the visit. Prior to
the corporate office move, the ED had moved most residents to
family-provided brief supplies, therefore avoiding some of the
challenges associated with supply flow that were reported at the
other facilities. However, he indicated that several residents were
on hospice, with hospice providing brief supplies for these
individuals. Because hospice was not tracking the number of briefs
provided, the ED implemented a tracking system to assist hospice
personnel with identifying gaps between supply and usage levels.
Under the new system, the ED felt that the caregiver concern would
be addressed.

PCO noted that the fire extinguisher tags had been updated since
the last site visit, consistent with the ED's feedback that tasks
had been accomplished in anticipation of the life safety survey.
Further, the ED reported that Riverstone's health inspection was
completed and passed. Kitchen staff reported that the head chef
position was now vacant, describing the departure as operational
and unrelated to the bankruptcy. The Life Enrichment (Activities)
team member who had formerly worked in the kitchen was reported as
helping fill the void left by the operational departure.

PCO reviewed refrigerated, frozen, and dry stock food supplies. No
food supply concerns noted. The ice maker issue remains whereby
manual manipulation of the ice maker is required to get the ice to
drop and to refill to make the next batch of ice cubes. PCO
reviewed documentation associated with food receipt, storage,
preparation, and dish cleaning. Documentation gaps were noted,
believed to be associated with lean staffing patterns since the
challenge was noted across facilities. PCO was fortunate to
interview a family member who was on site with his/her loved one.

The resident came to Riverstone post-petition. The family member
reported that he/she was not proactively told about the bankruptcy
process by Debtors.

Riverstone leadership reported that the stay relief process
anticipated for this facility will allow a smooth transition of
care—currently planned for October 1, 2019. As reported in PCO's
first report, resident records are largely paper documentation,
with assessments initially recorded in an electronic record system
that was developed by the Debtors. A copy of the assessment is then
printed and added to the residents' charts.

Accordingly, PCO's record concerns relate more to custodial record
issues surrounding prior resident records, stored both on site (in
the maintenance shed) and off site. Additionally, staff
competencies and training are contained in a second electronic
database referred to as "The LaSalle Group University" or TLGU.
Riverstone will need to ensure that employee documentation from
TLGU is printed and reflected in the hard copy employee files
should access to TLGU be terminated at some point.

Further, PCO has asked for more specific information as to the
amount and location of off-site record storage to better understand
the transition plan associated with these records. Finally,
transition par levels for laundry detergent, cleaning agents, food,
medical supplies, pharmaceuticals, and other essential resident
items should be considered prior to the October 1, 2019 transition
so that all parties involved know how many days of supplies are on
hand at the time of transition to plan for and minimize outages
that could affect safe resident care.

A full-text copy of the PCO's Report is available at
https://tinyurl.com/y3ccjvf9 from PacerMonitor.com at no charge.

The PCO can be reached at:

     Susan N. Goodman
     Pivot Health Law, LLC P.O.
     Box 69734 Oro Valley, AZ 85737
     Phone: (520) 744-7061
     Fax: (520) 575-4075
     Email: sgoodman@pivothealthaz.com

                      About The LaSalle Group

The LaSalle Group, Inc., along with certain of its subsidiaries,
designs, develops, builds, and owns interests in memory care
assisted living communities designed specifically for people with
Alzheimer's and other forms of dementia.  The communities operate
under the name Autumn Leaves.

LaSalle is a holding company for numerous wholly owned, non-debtor
subsidiaries and affiliates.  It directly and indirectly owns
interests in 40 memory care assisted living communities located in
Texas, Illinois, Georgia, Florida, Kansas, Missouri, Oklahoma,
South Carolina, and Wisconsin.

LaSalle and its subsidiaries sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 19-31484) on
May 2, 2019.  At the time of the filing, the Debtors estimated
assets of between $10 million and $50 million and liabilities of
the same range.  

The cases are assigned to Judge Stacey G. Jernigan.

The Debtors tapped Crowe & Dunlevy, P.C. as their legal counsel;
Haynes and Boone, LLP as special counsel; Karen Nicolaou of Harney
Partners Management, LLC as chief restructuring officer; and
Donlin, Recano & Company, Inc. as claims and noticing agent.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on July 3, 2019.


LASALLE GROUP: PCO Files 2nd Interim Report for West Houston
------------------------------------------------------------
Susan N. Goodman, Patient Care Ombudsman for The LaSalle Group,
Inc., filed a second interim report for the West Houston/Memorial
City Location.

West Memorial's census on the date of PCO's visit was 26. At the
time of PCO's visit, the clinical team included the Director of
Healthcare ("DOH"), four caregivers, and one medication technician.
Staffing appeared consistent with that seen during PCO's first site
visit. PCO was fortunate to interact with a resident's family
member who decided to move his/her loved one to a different
facility. While the family member did not ascribe the entire
decision to the bankruptcy reorganization, it was reported as a
factor in the decision. The family member also reported recent
concerns surrounding the quality of weekend staffing and the
frequency and quality of the laundry services as potential areas
for PCO's follow-up.

PCO met with the Executive Director ("ED") to discuss both the West
Houston and Cinco Ranch facilities given the West Houston ED
provides leadership to the Assistant Executive Director ("AED") at
the Cinco Ranch Facility. Since PCO's previous site visit, the
Maintenance Manager and the DOH departed. These departures were
described as operational in nature and unrelated to the bankruptcy.
Currently, part-time maintenance support is provided by the
Maintenance Manager from Cinco Ranch. The new DOH was in place,
bringing geriatric/psychiatric ("GeriPsych") facility experience.
She denied staffing or supply concerns at the time of PCO's visit.
In addition to the leadership staff, the ED has had some
operational staff turnover in the care giver role. PCO's weekend
staffing concern was discussed in conjunction with the ED's current
operational assessment of staffing needs and competencies.

A service technician was deployed prior to the filing of this
report and confirmed that all dryers were functioning properly. No
other laundry concerns noted. PCO audited the cleaning supplies
available to the housekeeping staff. PCO confirmed that the
housekeeper had disinfectant, floor cleaner, and a general purpose
cleaner available to him/her. PCO has some concern that the
cleaning product brands/types seem to have cycled through various
vendor products pre and post-bankruptcy. To the extent that these
different vendor products require different concentration (mixing)
ratios and/or set times for effectiveness, the housekeeping staff
may need assistance and/or tools to facilitate appropriate product
usage. PCO discussed this need with the ED and will remain engaged
to monitor product types, usage, and staff understanding on future
site visits. The landscaping challenges reported in PCO's first
reports have continued during the second reporting cycle.

While West Houston's lawn was mowed a day or two before PCO's site
visit, landscaping services were generally reported as occurring
infrequently enough that the grounds appear overgrown by the time
the services are rendered.

A replacement pest control vendor was secured. The replacement fire
safety vendor was also reported as in place. The ED reported that
safety drills and logs were all brought up to date. West Houston
also had its re-licensure survey completed in July 2019 with no
citations received. PCO also audited documentation associated with
food preparation and kitchen maintenance. Of note, while PCO noted
two kitchen personnel at West Houston during the first site visit,
only one team member was present during this site visit.

Although PCO did not observe resident care decline as contemplated
under 11 U.S.C. §333, the bankruptcy does appear to be having some
operational impact. Certainly, across the various locations,
laundry equipment repair delays and changes in cleaning and
detergent supply vendors appear to be financially related.
Landscaping maintenance and pest vendor replacement delays are
likely similarly related. Given these various dynamics, PCO would
not be comfortable moving to remote-only monitoring and would need
to plan on additional site visits in forty-five to sixty days if
other definitive case resolution does not occur.

A full-text copy of the PCO's Report is available at
https://tinyurl.com/y3gft7yu from PacerMonitor.com at no charge.

The PCO can be reached at:

     Susan N. Goodman
     Pivot Health Law, LLC P.O.
     Box 69734 Oro Valley, AZ 85737
     Phone: (520) 744-7061
     Fax: (520) 575-4075
     Email: sgoodman@pivothealthaz.com

                      About The LaSalle Group

The LaSalle Group, Inc., along with certain of its subsidiaries,
designs, develops, builds, and owns interests in memory care
assisted living communities designed specifically for people with
Alzheimer's and other forms of dementia.  The communities operate
under the name Autumn Leaves.

LaSalle is a holding company for numerous wholly owned, non-debtor
subsidiaries and affiliates.  It directly and indirectly owns
interests in 40 memory care assisted living communities located in
Texas, Illinois, Georgia, Florida, Kansas, Missouri, Oklahoma,
South Carolina, and Wisconsin.

LaSalle and its subsidiaries sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 19-31484) on
May 2, 2019.  At the time of the filing, the Debtors estimated
assets of between $10 million and $50 million and liabilities of
the same range.  

The cases are assigned to Judge Stacey G. Jernigan.

The Debtors tapped Crowe & Dunlevy, P.C. as their legal counsel;
Haynes and Boone, LLP as special counsel; Karen Nicolaou of Harney
Partners Management, LLC as chief restructuring officer; and
Donlin, Recano & Company, Inc. as claims and noticing agent.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on July 3, 2019.


LIGHTHOUSE PLUMBING: Seeks to Use IRS Cash Collateral
-----------------------------------------------------
Lighthouse Plumbing & Mechanical, LLC, asks the U.S. Bankruptcy
Court for the Eastern District of Texas to authorize use of the
proceeds of assets on which the Internal Revenue Service asserts a
lien and security interest, pursuant to a budget.

The budget provides for $176,703 in total expenses for the period
from Sept. 13 through Sept. 27, 2019.  Of this amount, $98,409 is
for net payroll; $24,670 for payroll taxes; and $35,646 for
supplier bills, among others.  A copy of the budget can be accessed
at no charge at:

         
http://bankrupt.com/misc/Lighthouse_Plumbing_11(2)_Cash_Budget.pdf

As adequate protection, the Debtor seeks to provide the IRS
replacement liens in all of the Debtor's pre-petition and
post-petition personal property and cash collateral, subject to the
carve-out.  The Debtor owes the IRS more than $900,000 in unpaid
federal trust fund taxes, secured by all tangible personal property
of the Debtor, including cash collateral.  

The Debtor seeks a final hearing on the motion.

                 About Lighthouse Plumbing & Mechanical

Lighthouse Plumbing & Mechanical, LLC, d/b/a Lighthouse Plumbing,
is a building finishing contractor in Richardson, Texas.  

The Debtor sought Chapter 11 protection (Bankr. E.D. Tex. Case No.
19-42516) in Sherman, Texas, on Sept. 13, 2019.  In the petition
signed by Terrance J. Wooten, president and managing member, the
Debtor reports $1 million to $10 million in assets and liabilities.
Judge Brenda T. Rhoades is assigned the Debtor's case.
DEMARCO-MITCHELL, PLLC, is the Debtor's counsel.


MCDERMOTT TECHNOLOGY: Moody's Lowers CFR to B3
----------------------------------------------
Moody's Investors Service downgraded McDermott Technology
(Americas), Inc.'s corporate family rating to B3 from B2, its
probability of default rating to B3-PD from B2-PD, its senior
secured credit facilities rating to B2 from B1, and its senior
unsecured notes rating to Caa2 from Caa1, and placed all ratings
under review for possible further downgrade. McDermott's
speculative grade liquidity rating of SGL-3 is unchanged.

"The downgrade and review of McDermott's ratings reflects the
hiring of advisors to evaluate strategic options in light of the
higher than expected costs and cash outflows on a few problem
projects and the lower than expected proceeds from asset sales.
These factors have led to higher debt levels, weaker credit metrics
and tighter near-term liquidity than previously expected." said
Michael Corelli, Moody's Vice President -- Senior Credit Officer
and lead analyst for McDermott Technology (Americas), Inc.

Downgrades:

Issuer: McDermott Technology (Americas), Inc.

  Probability of Default Rating, Downgraded to B3-PD from
  B2-PD; Placed Under Review for further Downgrade

  Corporate Family Rating, Downgraded to B3 from B2; Placed
  Under Review for further Downgrade

  Senior Secured Term Loan B, Downgraded to B2 (LGD3) from
  B1 (LGD3); Placed Under Review for further Downgrade

  Senior Secured Revolving Credit Facility, Downgraded to
  B2 (LGD3) from B1 (LGD3); Placed Under Review for further
  Downgrade

  Senior Unsecured Regular Bond/Debenture, Downgraded to
  Caa2 (LGD5) from Caa1 (LGD5); Placed Under Review for
  further Downgrade

Outlook Actions:

Issuer: McDermott Technology (Americas), Inc.

  Outlook, Changed To Rating Under Review From Negative

RATINGS RATIONALE

The review will focus on the strategic actions being pursued by the
company and the likelihood it will be able to improve its
operational execution and cash flow generation and strengthen its
liquidity profile.

McDermott's B3 rating reflects the company's high exposure to fixed
price contracts on large and technically complex projects, and the
recent performance issues on legacy CB&I contracts which have led
to substantial cost overruns, negative cash flows and weaker than
expected liquidity. The combination with CB&I and the recent
performance issues indicate some weakness in corporate governance
with regards to financial strategy and risk management. McDermott's
rating also considers the risk that further unexpected issues will
arise considering the ongoing charges on fixed price contracts in
the E&C sector. These risks are somewhat tempered by McDermott's
successful track record of bidding and executing on fixed price
contracts, strengthening customer relationships and rightsizing its
fixed costs prior to its combination with CB&I. The rating also
reflects the company's large scale, broad geographic, end market
and customer diversity, and strong technical capabilities.

McDermott revised its 2019 earnings guidance materially lower in
July 2019 to reflect changes to project schedules, modifications of
performance assumptions and a shift in the timing of incentives on
the Cameron LNG project. The company's revised guidance was for it
to generate $9.5 billion in revenues, $725 million in adjusted
EBITDA and a cash outflow of around $640 million versus its prior
guidance of $10.0 billion in revenues, adjusted EBITDA of $1.1
billion and a cash outflow of $470 million. Moody's believes it is
highly uncertain as to whether the company can achieve this level
of profitability considering its recent inability to accurately
forecast cost overruns on certain projects. The company's decision
to hire advisors to evaluate strategic options could be an
indication that the higher than expected costs and cash outflows
have continued in the third quarter.

McDermott has a speculative grade liquidity rating of SGL-3 since
it is expected to maintain an adequate liquidity profile. It had
$455 million of unrestricted cash and $568 million of revolver
availability as of June 30, 2019. Its liquidity is expected to
trough at a lower level in 2H19 and provides only a moderate buffer
against potential additional cost overruns. The company's liquidity
could be bolstered by the sale of its industrial storage tank
business if net proceeds are less than $500 million since it is
required to use proceeds in excess of $500 million to pay down
debt. Although, the successful sale of this business remains
uncertain.

McDermott Technology (Americas), Inc., is an operating subsidiary
of McDermott International, Inc., which is a fully-integrated
provider of engineering, procurement, construction, installation
and technology solutions to the energy industry. Its technologies
and solutions are utilized for offshore, subsea, power, liquefied
natural gas and downstream energy projects around the world. Its
customers include national, major integrated and other oil and gas
companies as well as producers of petrochemicals and electric
power. It operates in most major energy producing regions
throughout the world and executes its projects principally under
fixed-price contracts. The company expects to generate about $9.5
billion in revenues in 2019 and has a backlog of $20.5 billion,
with 39% in North, Central and South America, 32% in the Middle
East and North Africa, 20% in Europe, Africa, Russia and the
Caspian region, 6% in the Asia Pacific region, and 3% related to
its Technology segment.

The principal methodology used in these ratings was Construction
Industry published in March 2017.


MCP REAL ESTATE: Creditors to Get Payment From Sale Proceeds
------------------------------------------------------------
MCP Real Estate Holding, LLC, filed with the U.S. Bankruptcy Court
for the Southern District of West Virginia, a small business
Chapter 11 plan and disclosure statement.

The Debtor believes that they can sell the six townhomes for
$1,040,000 and after lessening the costs to complete the homes pay
over to First Exchange Bank at not less than $700,000 to lessen the
obligation to about $1.2 million.  The Debtor will pay First
Exchange Bank the total sum of $1,851,000 with a 4.5% interest rate
over 60 months as the sale of real property takes place at the rate
of up to $20,000 per acre.

The Debtor further believes that the real property can be sold and
generate $3,800,000.00 to pay off the first Enterprise loan and
secured loan.

A full-text copy of the disclosure statement is available at
https://tinyurl.com/y4rl7u84 from PacerMonitor.com at no charge.

MCP Real Estate Holding, LLC, filed a Chapter 11 bankruptcy
petition (Bankr. S.D. W.Va. Case No. 19-30026) on Jan. 23, 2019.
The Debtor hired Pepper & Nason as attorney.


MEDCOAST MEDSERVICE: U.S. Trustee Directed to Appoint PCO
---------------------------------------------------------
Upon consideration of the Stipulation for order directing the
appointment of a Patient Care Ombudsman by and between MedCoast
Medservice Inc., and the United States Trustee, the Bankruptcy
Court ordered the U.S. Trustee to immediately appoint a
disinterested patient care ombudsman pursuant to Bankruptcy code.
The PCO may apply for compensation pursuant to §330, but pursuant
to the Parties' PCO Stipulation, compensation for the PCO will not
exceed $5,000.00 inclusive of any attorney fees, for the entirety
of the PCO's engagement in this case.

                  About MedCoast Medservice

MedCoast Medservice Inc. -- https://www.medcoastambulance.com/ --
provides emergency and non-emergency transportation to all of Los
Angeles, Orange County and South Bay areas.  MedCoast Medservice is
a corporation whose primary business concerns the transport of
individuals (patients) to and from their homes or places of need to
hospitals, physicians, and/or health care providers.  It operates
from a rented facility located at 14325 Iseli Road, Santa Fe
Springs, California.

MedCoast Medservice filed for Chapter 11 protection (Bankr. C.D.
Cal. Case No. 19-19334) on Aug. 9, 2019.  In the petition signed by
Artina Safarian, president, the Debtor disclosed assets at $952,016
and liabilities at $2,615,768, of which approximately $1,303,754 is
owed for payroll taxes to the Internal Revenue Service.  Judge
Sheri Bluebond is the case judge.  Henry D. Paloci III PA
represents the Debtor.


MEMPHIS SPINE: Court Approves Disclosure Statement
--------------------------------------------------
The disclosure statement filed by Memphis Spine and Rehab is
approved.

Pre-trial Conference on confirmation of the plan is set for October
31, 2019 at 9:30 a.m. in Courtroom Number 680 at 200 Jefferson
Ave., Memphis, TN.

October 21, 2019 is fixed as the last day for filing written
objections to the plan, and for filing written acceptances or
rejections of the plan.

Class 3 - Unsecured Non-Priority Claims are impaired.  The
Unsecured claims will be paid 1% of their allowed claim over five
(5) years beginning one year after entry of the Order of
Confirmation.

The Debtor through Dr. Jason Coleman will continue to operate the
practice and business and be responsible for the payment of the
liabilities through a confirmed plan of reorganization.  The Debtor
will continue to market and grow the practice for funding of plan.
With the pared down list of secured creditors the Debtor believes
plan is feasible.

The Reorganized Debtor's operations will be funded by cash
generated from operations of Memphis Spine.

A full-text copy of the Disclosure Statement is available at
https://tinyurl.com/y2vq7vkg from PacerMonitor.com at no charge.

          About Memphis Spine and Rehab Center

Memphis Spine and Rehab Center, PLLC --
http://www.thememphisspine.com-- is a healthcare company in
Germantown, Tennessee, that provides a variety of services
including physical therapy, massage therapy, chiropractic care,
nutritional guidance, respiratory therapy and primary care.  It
serves the residents of Cordova, Memphis, Germantown, Collerville,
Bartlett, Lakeland and East Memphis.

Memphis Spine and Rehab Center sought protection under Chapter 11
of the Bankruptcy Code (Bankr. W.D. Tenn. Case No. 18-28084) on
September 27, 2018.  At the time of the filing, the Debtor had
estimated assets of less than $50,000 and liabilities of $1 million
to $10 million.  

The case has been assigned to Judge George W. Emerson Jr.  The
Debtor hired the Law Office of Toni Campbell Parker as its legal
counsel.


MERCER INTERNATIONAL: S&P Alters Outlook to Stable, Affirms BB- ICR
-------------------------------------------------------------------
S&P Global Ratings revised its outlook on Mercer International Inc.
to stable from positive and affirmed all of its ratings on the
company, including its 'BB-' issuer credit rating.

The rating actions follow Mercer's announcement that it will add
US$200 million to its existing 2025 notes and use the proceeds to
repay the remaining US$100 million on its 2022 notes, with the
balance to be used for general corporate purposes. S&P estimates
the company will generate materially lower cash flows in 2019 and
2020 relative to the rating agency's previous expectations.

The outlook revision reflects weaker-than-expected credit measures,
led primarily by weaker pulp prices. Pulp prices have deteriorated
significantly over the past year, with Mercer's average realized
price for softwood pulp declining by almost 10% in the first half
of 2019 relative to the same period in 2018. S&P attributes the
decline primarily to moderating economic growth in China and the
impact of the U.S.-China trade war, which has led to elevated
inventory levels. Prices have weakened further through third
quarter and S&P estimates average realized prices will be about
15%-20% lower in 2019 relative to 2018. Based on its price revision
and including the additional debt, S&P expects leverage to be at
about 4x in 2019 and in the mid-3x area in 2020. In S&P's view,
leverage at this level is not commensurate with a higher rating.

Lumber prices have also declined significantly. S&P also expects
earnings from the lumber segment to be lower than previously
expected. Mercer exports about 30% of its lumber shipments to North
America, where year-to-date 2019 prices have deteriorated
significantly relative to 2018, because of wet weather conditions
that have affected U.S. housing activity and increased inventories.
In addition, prices for European lumber have declined due to
increases in lower-priced lumber, processed from beetle- and
storm-damaged wood. Although S&P does not expect prices in North
America to be sustainable and expect they will rebound in 2020, it
believes the lumber segment will remain a modest contributor to
overall EBITDA (less than 10%).

The stable outlook reflects S&P's expectation that leverage will
improve to below 4x over the next 12 months, which is commensurate
with the rating. The outlook also reflects the rating agency's
expectation that the company will generate positive free cash
flows, which, along with the strong cash balance, provides
financial flexibility.

"We could lower the rating on Mercer over the next 12 months if we
expect adjusted debt-to-EBITDA to approach 5x with limited prospect
of improving," S&P said. This could happen if pulp prices continue
to decline due to weaker-than-expected end-user demand, according
to the rating agency.

"Alternatively, this could also occur if the company engages in a
debt-financed acquisition or investment. We could also lower the
rating if we believe our assessment of liquidity weakens to an
extent that no longer supports the current one-notch uplift on the
rating," S&P said.

"We could raise our ratings on Mercer if we believe the company can
generate and sustain adjusted debt-to-EBITDA in the low 2x area. In
this scenario, we would expect the company to realize northern
bleached softwood kraft (NBSK) prices well above our current
expectation," S&P said, adding it would also expect better
visibility on future allocation of discretionary cash flow.


MEREDITH CORP: S&P Alters Outlook to Stable, Affirms 'B+' ICR
-------------------------------------------------------------
S&P Global Ratings revised its outlook to stable from positive and
affirmed all of its ratings on Meredith Corp., including its 'B+'
issuer credit rating.

The outlook revision reflects S&P's revised forecast for Meredith's
national media segment EBITDA in fiscal 2020.

Specifically, S&P expects limited EBITDA margin expansion and
higher operating expenses in the company's national media segment,
primarily reflecting the steep decline of high-margin print
advertising revenue from assets acquired in 2018, higher subscriber
costs, and more investment in growth opportunities. In its revised
forecast, S&P expects the company to generate $50 million to $75
million of discretionary cash flow (DCF) in 2020, and along with
$75 million of asset sale proceeds, repay $125 million to $150
million of debt. S&P expects Meredith's leverage will improve to
the mid-4x area in fiscal 2020 from 5.1x in fiscal 2019, which is
higher than previously expected, and above the rating agency's 4x
threshold for a ratings upgrade.

The stable outlook reflects S&P's expectation that Meredith's
leverage will improve to the mid-4x area from 5.1x in fiscal 2019
and remain in the 4x-5x range through the end of fiscal 2020. The
outlook is also supported by moderate EBITDA growth, aided by lower
severance, transaction, and integration costs, and continued debt
repayment.

"We could lower the rating if Meredith struggles to stabilize its
national media segment and we expect leverage will exceed 5x. This
could occur if the company is unable to realize its remaining
acquisition cost synergies, print advertising revenue declines
accelerate, and digital revenue growth stalls," S&P said, adding
that it expects leverage could also remain above 5x if Meredith's
advertising revenues decline across all business lines due to a
worsening economy.

"Although unlikely over the next 12 months, we could raise the
rating if Meredith continues to repay debt, stabilizes or grows
revenue and EBITDA in its national media segment, and reduces
leverage to less than 4x. We would also look for stable economic
and operating performance in the company's local media segment,"
S&P said.


MESABI METALLICS: Court Dismisses CCMLD Appeal as Moot
------------------------------------------------------
The Court of Appeals of Minnesota dismissed the appeals case
captioned Cleveland-Cliffs Minnesota Land Development, LLC,
Relator, v. Minnesota Department of Natural Resources, Respondent,
Mesabi Metallics Company, LLC, Respondent, No. A18-1030 (Minn.
App.) because the action does not present a justiciable
controversy.

In this certiorari appeal, relator challenges a letter from
respondent Minnesota Department of Natural Resources denying
relator's request to transfer or cancel certain permits held by
respondent Mesabi Metallics Company, LLC.

The appeal arises out of a dispute between relator Cleveland-Cliffs
Minnesota Land Development, LLC (CCMLD) and respondent Mesabi
Metallics Company, LLC (Mesabi), successor-in-interest to Essar
Steel Minnesota, LLC (Essar) and Minnesota Steel Industries, LLC
(MSI), regarding four water-appropriation permits issued by
respondent Minnesota Department of Natural Resources (the DNR).

Respondents challenge the court's jurisdiction to consider the
certiorari appeal on the grounds that (1) CCMLD lacks standing to
pursue an appeal, (2) CCMLD's claims are moot, and (3) this court
is not the proper venue in which to resolve factual disputes.
"[T]he existence of a justiciable controversy is essential to our
exercise of jurisdiction."

The Court holds that CCMLD has not demonstrated a "concrete and
particularized invasion of a legally protected interest" conferring
injury-in-fact standing. CCMLD also has not demonstrated that it is
entitled to protection from competitive injury. Because CCMLD
failed to show that it has suffered an injury that is "fairly
traceable" to the DNR's letter and that is "likely to be redressed
by a favorable decision," the Court determines that CCMLD does not
have standing to maintain this certiorari appeal.

CCMLD's demand to transfer the water-appropriation permits is
unreviewable on mootness grounds. The record demonstrates that the
points-of-taking for the water-appropriation pits are not located
on lands under CCMLD's control. As such, CCMLD's basis to demand
transfer of the permits is not present. The Court, therefore,
determines that the appeal is moot and must be dismissed because
the court is "unable to grant effectual relief."

A copy of the Court's Opinion dated April 15, 2019 is available at
https://bit.ly/2mmk5Fw from Leagle.com.

William P. Hefner, Jeremy Greenhouse, The Environmental Law Group,
Ltd., Mendota Heights, MN, for relator.

Keith Ellison, Attorney General, Joshua Skaar, Max Kieley,
Assistant Attorneys General, St. Paul, Minnesota, for respondent
Minnesota Department of Natural Resources.

Rob A. Stefanowicz , Peder A. Larson, Bryan J. Huntington, Larkin
Hoffman Daly & Lindgren, Ltd., Minneapolis, Minnesota, for
respondent Mesabi Metallics Company, LLC.

               About Essar Steel Minnesota

Essar Steel Minnesota LLC, now known as Mesabi Metallics Company
LLC, and ESML Holdings Inc. filed for Chapter 11 bankruptcy
protection (Bankr. D. Del. Case Nos. 16-11627 and 16-11626) on July
8, 2016.  Madhu Vuppuluri, president and CEO, signed the
petitions.

ESML Holdings Inc. estimated assets at $1 billion to $10 billion
and debt at $500 million to $1 billion.  Essar Steel Minnesota LLC
estimated assets and debt at $1 billion to $10 billion.

Judge Brendan Linehan Shannon is the case judge.

Craig H. Averich, Esq., at White & Case LLP and John L. Bird, Esq.,
and Jeffrey M. Schlerf, Esq., at Fox Rothschild LLP, serve as
counsel to the Debtors.  Epic Bankruptcy Solutions, LLC, serves as
claims and noticing agent.

Andrew Vara, acting U.S. trustee for Region 3, on July 20, 2016,
appointed the official committee of unsecured creditors of ESML
Holdings, Inc., and its affiliates.  The Committee retained Andrew
K. Glenn, at Kasowitz Benson Torres & Friedman LLP, to act as
counsel.  Garvan F. McDaniel, at Hogan McDaniel, act as Delaware
counsel.  David MacGreevey, at Zolfo Cooper, LLC, is the
Committee's financial advisor.


MINNESOTA MEDICAL: S&P Cuts ICR to CC; Ratings Remain on Watch Neg.
-------------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Minnesota
Medical University LLC (MMU) to 'CC'. The ratings remain on
CreditWatch with negative implications and are likely to be lowered
to 'D' and withdrawn after Sept. 30, when the mandatory redemption
date occurs.

Minnesota Medical University LLC's (MMU) proposed Minnesota College
of Osteopathic Medicine (MNCOM) project has a new proposed equity
partner, Touro College and University System (TCUS). TCUS proposes
to absorb the MNCOM campus as an expansion under its existing
accredited osteopathic medical school system.

The TCUS restructuring details are not finalized, but based on
information provided to bondholders in a recent conference call,
the initial proposal estimates a cost of $8 million dollars to
complete the first phase of construction, which entails the
necessary construction activities before matriculating a first year
class. TCUS is requesting that bondholders authorize $5 million of
bond proceeds to be released from the current structure in lockup.
TCUS proposes to advance a $3 million loan to MMU to bridge the
balance. MMU is not a party to the current negotiations between
bondholders and TCUS. In contrast, under the bond indenture, senior
lenders were entitled to repayment of interest and 101% of the par
value of $63.84 million on Sept. 30. S&P views the proposed
restructuring to be distressed and a loss of value for bondholders
vis-à-vis the original promise. Therefore, S&P would view the
restructuring if executed, as tantamount to a default under our

The ratings remain on CreditWatch with negative implications based
on the high probability that S&P will lower them again on Sept. 30.


MMMT CORPORATION: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: MMMT Corporation
        8225 W. Robindale Road
        Las Vegas, NV 89113

Case No.: 19-16113

Business Description: MMMT Corporation operates a skilled nursing
                      facility in Las Vegas, Nevada.

Chapter 11 Petition Date: September 21, 2019

Court: United States Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Hon. 19-16113

Debtor's Counsel: Matthew L. Johnson, Esq.
                  JOHNSON & GUBLER, P.C.
                  8831 West Sahara Avenue
                  Las Vegas, NV 89117
                  Tel: (702) 471-0065
                  Fax: (702) 471-0075
                  E-mail: annabelle@mjohnsonlaw.com
                          mjohnson@mjohnsonlaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $10 million to $50 million

The petition was signed by Steven R. Pavlow, president.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 20 largest unsecured creditors is available
for free at:

             http://bankrupt.com/misc/nvb19-16113.pdf


MR. CAMPER: Seeks Authorization on Cash Collateral Use
------------------------------------------------------
The Hon. Elizabeth W. Magner of the U.S. Bankruptcy Court for the
Eastern District of Louisiana authorized Mr. Camper, LLC, to use
cash collateral to the extent and in the amount set forth in the
budgets.

Mr. Camper may use cash collateral in an amount equal to up to 10%
more than a particular corresponding category in the budgets,
measured on a cumulative, monthly basis, provided that (a) cash
collateral is available, and (b) the aggregate amount of the
Budgets is not exceeded by 10%. However, the fees due to the Office
of the US Trustee will not be subject to any limitation.

Mr. Camper is allowed to use cash in its bank accounts and cash
generated by its operations, in which Apex Bank and the U.S. Small
Business Administration assert a lien for the disbursements set
forth in the budget.

Apex Bank is granted, adequate valid, enforceable and fully
perfected, replacement liens and security interest in all of the
property, assets or interest in property or assets of Mr. Camper
and all property of the estate of any kind or nature whatsoever,
real or personal, tangible or intangible or missed, now existing or
hereafter acquired or created, including without limitation all of
Mr. Camper's now owned or hereafter acquired or post-petition
right, title and interest in and to all cash accounts, accounts
receivable, inventory, furniture, fixtures, general intangibles,
and equipment subject only to any existing valid and enforceable
liens under state or federal law.

Apex Bank is also granted a super-priority administrative claim
pursuant to 11 U.S.C. Section 507(b) to the extent that adequate
protection payments would be insufficient to protect against any
diminution in the value of its collateral, subject to a carve-out
for allowed fees and expenses of counsel for Mr. Camper, which
carve-out will be limited to the amounts set forth on the Budgets
and the fees of the US Trustee, as provided by law.

Mr. Camper will provide to Apex Bank, the SBA and the US Trustee
monthly reporting of use of Cash Collateral as compared to the use
proposed with the Budgets on the 15th day of each consecutive
calendar month.

                       About Mr. Camper LLC

Mr. Camper, LLC -- https://www.jellystonela.com/ -- owns and
operates the Yogi Bear's Jellystone Camp Resort.  The facility
features more than 450 wooded campsites, 75 cabins, swimming pools,
fishing ponds, game room, mini golf, canoe, kayak and paddle boat
rentals, RV storage, playground, wet "spray" ground, basketball
court, baseball field, laundry facilities, store, and propane
filling station.

Mr. Camper sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. E.D. La. Case No. 19-11775) on July 1, 2019.  At the
time of the filing, the Debtor estimated assets of between $1
million and $10 million and liabilities of the same range.  The
case is assigned to Judge Elizabeth W. Magner.  Richmond Law Firm,
LLC, is the Debtor's counsel.


MUSCLEPHARM CORP: CEO Drexler Hikes Stake to 58.8% as of Sept. 16
-----------------------------------------------------------------
Ryan Charles Drexler reported in a Schedule 13D/A filed with the
Securities and Exchange Commission that as of Sept. 16, 2019, he
beneficially owns 19,653,779 shares of common stock of Musclepharm
Corporation which represents 58.8 percent of the shares
outstanding.

On Sept. 17, 2019, Mr. Drexler delivered a notice to the Issuer and
its independent directors of his election to convert, effective as
of Sept. 16, 2019, $18,000,000 of the amount outstanding (including
all accrued and unpaid interest) under that certain Amended and
Restated Convertible Secured Promissory Note dated as of Nov. 8,
2017, into shares of the Issuer's Common Stock, at a conversion
price of $1.11 per share, pursuant to the terms and conditions of
the Note.  As of the Notice Date, the total amount outstanding
under the Note (including principal and accrued and unpaid
interest) was equal to $19,262,910.  Pursuant to the terms of the
Note, the Issuer has instructed the transfer agent for its shares
to issue to the Reporting Person 16,216,216 shares of its Common
Stock in respect of the Partial Conversion.  The Note will remain
outstanding in accordance with its terms in respect of all amounts
in excess of the $18,000,000 that is subject to the Partial
Conversion.

Previously, on Jan. 5, 2018, the Issuer instructed the transfer
agent for its shares to issue to Mr. Drexler 81,113 shares of its
Common Stock (approximately 0.5% of the then outstanding shares of
Common Stock), which were issued in lieu of cash interest in
accordance with the terms of the Note.

After considering various facts and circumstances, including the
Issuer's cash position, and making his own strategic
determinations, the Reporting Person elected to partially convert
the Note into shares of Common Stock and increase his direct equity
ownership in the Issuer, which will have the effect, among others,
of the Reporting Person being able to control significant corporate
actions, including the election of directors to the Board of
Directors of the Issuer.

Currently, Mr. Drexler is the chief executive officer of Consac,
LLC and the president, chief executive officer and executive
chairman of the Board of Directors of the Issuer.

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

                       https://is.gd/P5Is20

                        About MusclePharm

Headquartered in Denver, Colorado, MusclePharm Corporation
(OTCQB:MSLP) -- http://www.musclepharm.comand
http://www.musclepharmcorp.com/-- develops, manufactures, markets
and distributes branded nutritional supplements.  Its portfolio of
recognized brands includes MusclePharm Sport Series, Essential
Series and FitMiss, as well as Natural Series, which was launched
in 2017.  These products are available in more than 100 countries
worldwide.  MusclePharm is an innovator in the sports nutrition
industry with clinically proven supplements that are developed
through a six-stage research process utilizing the expertise of
leading nutritional scientists, physicians and universities.

MusclePharm incurred a net loss of $10.97 million in 2017 compared
to a net loss of $3.47 million in 2016.  As of Sept. 30, 2018, the
Company had $28.34 million in total assets, $45.82 million in total
liabilities, and a total stockholders' deficit of $17.47 million.


NEWS-GAZETTE INC: Sept. 30 Auction of All Assets Set
----------------------------------------------------
Judge Karen B. Owens of the U.S. Bankruptcy Court for the District
of Delaware authorized the bidding procedures of The News-Gazette,
Inc. and its debtor-affiliates in connection with the sale of
substantially all assets to Champaign Multimedia Group, LLC,
subject to overbid.

The Stalking Horse Bidder is approved as the stalking horse bidder
for the purchase of the Purchased Assets, on the terms and
conditions of the Stalking Horse APA, subject to: (i) higher and
better bids under the terms of the Bid Procedures; (ii) approval by
the Court after proper notice and hearing.

The Stalking Horse APA is approved as the Form APA for purposes of
submitting a Qualifying Bid and is appropriate and reasonably
calculated to enable the Debtors and other parties in interest to
easily compare and contrast the differing terms of the Bids
presented at the Auction.

These Bid Protections will govern the conduct of the sale of the
Debtor's Assets:

     (a) To reimburse the Stalking Horse Bidder in connection with
the proposed sale and serving as the Stalking Horse Bidder, in the
event that the Successful Bidder is not the Stalking Horse Bidder
and the sale of the Purchased Assets to a Successful Bidder, other
than the Stalking Horse Bidder, closes, then the Stalking Horse
Bidder will be entitled to an expense reimbursement the as an
allowable administrative expense under Section 503(b) of the
Bankruptcy Code and will be paid at the closing of a sale to a
Successful Bidder who is not the Stalking Horse Bidder;

     (b) Notwithstanding anything in the Stalking Horse APA to the
contrary, the Expense Reimbursement Fee will be limited to the
aggregate amount equal to the reasonable and documented
out-of-pocket costs, fees, and expenses of the Stalking Horse
Bidder incurred in connection with the transactions contemplated to
occur pursuant to the Stalking Horse APA, including, without
limitation, (a) the negotiation and execution of the Stalking Horse
APA, and (b) carrying out its obligations under the Stalking Horse
APA prior to the Closing; provided, however, that such Expense
Reimbursement Amount will not exceed an amount equal to $225,000;

     (c) The minimum cash overbid amount will equal the minimum
amounts set forth in the Bidding Procedures, which include pro rata
amounts for the cash consideration for the Acquired Assets, plus
the Expense Reimbursement Fee, plus a minimum overbid.  For the
avoidance of doubt, bidding on the Debtor’s Assets at any auction
will proceed in increments of not less than $100,000 on a pro rata
basis; and

     (d) In the event ofa credit bid by a secured creditor, any
Credit Bid submitted or made by a secured creditor, and that may be
permitted by the Court, will include a cash component sufficient to
pay, the maximum amount of the Expense Reimbursement Fee (i.e.
$225,000) as an administrative expense (with any remaining balance
of such maximum amount to be returned upon the Court's
determination of the allowable Expense Reimbursement Fee), which
Expense Reimbursement Fee will be paid at the closing ofa sale to a
secured creditor who makes a Credit Bid and is the Successful
Purchaser.

The salient terms of the Bidding Procedures are:

     a. Bid Deadline: Sept. 27, 2019

     b. Minimum Bid: (i) All Assets - $4,825,000; (ii) Newspaper
Lot - $2,412,500; (iii) Radio Lot - $2,412,500

     c. Deposit: 10% of Purchase Price

     d. Auction:  The Auction will take place on Sept. 30, 2019 at
10:00 a.m. (ET) at the offices of Chipman Brown Cicero & Cole, LLP,
Hercules Plaza, 1313 North Market Street, Suite 5400, Wilmington,
Delaware 19801, or such other place and time as the Debtors will
notify all Qualified Bidders and each oftheir respective counsel
and advisers.

     e. Bid Increments: Any Overbid after and above the Auction
Baseline Bid will be made in increments determined by the Sellers
valued at not less than such amount as will be announced at the
Auction (in an amount greater than the pro rata amount of any
approved bid protections or sale-related administrative expenses),
in cash or in cash equivalents or, once the cash (or cash
equivalent) amount of such Overbid exceeds the cash (or cash
equivalent) amount of the next highest Bid, other forms of
consideration acceptable to the Sellers.

     f. Sale Hearing: Oct. 2, 2019 at 10:00 a.m. (ET)

     g. Closing: Dec. 4, 2019

     h. Sale Objection Deadline: Sept. 27, 2019 at 4:00 p.m. (ET)

The notices are approved, and the service or publication thereof
constitutes proper, timely, adequate and sufficient notice of the
Sale, the Bidding Procedures, and the Sale Hearing, and no other or
further notice will be required.  Within three Business Days after
the entry of the Order, or as soon thereafter as practicable, the
Debtors (or their agents) will serve the Order and the Bidding
Procedures upon the Supplemental Notice Parties.

On Sept. 4, 2019, the Debtors (or their agents) will served the
Sale Notice upon all known creditors of the Debtors and all
counterparties to the Debtors' executory contracts and unexpired
leases.  On Sept. 19, 2019, the Debtors will publish the Sale
Notice on one occasion in the News-Gazette.

Pursuant to sections 105, 363, 364 and 503 of the Bankruptcy Code,
the Debtors are authorized and directed to pay the Bid Protections
at the Closing of any Competing Transaction pursuant to and subject
to the terms and conditions set forth in the Stalking Horse APA, as
an administrative expense of the estate.

The Assumption and Assignment Procedures as set forth in the Motion
are approved and made part of the Order.

On Sept. 4, 2019, the Debtors (or their agents) will serve the Cure
Notices upon all counterparties to the Debtors' executory contracts
and unexpired leases and any other affected parties.  The Contract
and/or Lease Objection Deadline is Sept. 27, 2019 at 4:00 p.m.
(ET).

Notwithstanding the possible applicability of Bankruptcy Rules
6004(h), 6006(d), 7052, 9014 or otherwise, the terms and conditions
of this Order will be immediately effective and enforceable upon
its entry.

A copy of the Bidding Procedures attached to the Order is available
for free at:

      http://bankrupt.com/misc/News-azette_Inc_66_Order.pdf

                     About The News-Gazette

The News-Gazette is a daily newspaper serving eleven counties in
the eastern portion of Central Illinois and specifically the
Champaign-Urbana metropolitan area.

The News-Gazette Inc. and its debtor affiliates sought protection
under Chapter 11 of the US Bankruptcy Code (Bankr. D. Del. Case No.
19-11901) on Aug. 30, 2019.  William E. Chipman, Jr. at Chipman
Brown Cicero & Cole, LLP, is the Debtors' counsel.



NEWTON FALLS: Moody's Affirms Ba1 Rating on $1.3MM GOULT Debt
-------------------------------------------------------------
Moody's Investors Service affirmed Newton Falls Exempted Village
School District, OH's Ba1 general obligation unlimited tax rating.
The district has approximately $1.3 million in rated GOULT debt
outstanding. The outlook is negative.

RATINGS RATIONALE

The Ba1 rating reflects the district's persistently narrow reserve
position coupled with a weak voter support for additional revenue.
Additionally incorporated into the rating is the district's weak
economic base characterized by stagnant valuation trends, a
shrinking labor force and population that is declining and aging.
Favorably, the district's debt burden is low.

RATING OUTLOOK

The negative outlook reflects the continued inability to materially
build reserves. Voters rejected an income tax referendum in May
2019 and the district plans to go to voters again in November of
2019 for a new property tax levy and again in May of 2020 for the
renewal of existing levies. Although unaudited fiscal 2019 results
reflect positive operations, the inability to better control
expenditures and/or achieve voter support of new operating revenue
could further pressure the district's rating.

FACTORS THAT COULD LEAD TO AN UPGRADE

  - Sustained growth in fund balance and liquidity

  - Significant expansion of the tax base and improved
    enrollment trends

FACTORS THAT COULD LEAD TO A DOWNGRADE

  - The inability to build reserves

  - Declines in the tax base or further weakening of the
    demographic profile

LEGAL SECURITY

The district's GOULT bonds are secured by a dedicated, voter
approved property tax levy that is unlimited by rate or amount.

PROFILE

Newton Falls Exempted Village School District is located 25 miles
northwest of Youngstown in Trumbull County (Aa3). The district
provides kindergarten through 12th grade education for
approximately 1,000 students. The district's estimated population
totals approximately 8,300 residents.


NEXTERA ENERGY: Fitch Rates $500MM Unsec. Notes Due 2026 'BB+'
--------------------------------------------------------------
Fitch Ratings assigned a 'BB+' rating to the $500 million 3.875%
senior unsecured notes due 2026 issued by NextEra Energy Operating
Partners, LP. NEP Opco is a subsidiary of NextEra Energy Partners,
LP. Due to strong legal ties, the Issuer Default Ratings of both
the entities are rated 'BB+'. The Rating Outlook is Stable. Fitch
has assigned a 'RR4' Recovery Rating to the new notes. This
reflects Fitch's view that the unsecured debt at NEP Opco will
achieve average recoveries in a default situation and, hence, the
rating on the notes reflects zero notching from the IDR or 'RR4' on
Fitch's Recovery Ratings scale.

The proposed senior unsecured notes will be absolutely and
unconditionally guaranteed by NEP. The notes will also have an
upstream guarantee from NextEra Energy US Partners Holdings, LLC
(US Holdings), which is a subsidiary of NEP Opco. The notes are
structurally subordinated to the revolving credit facility at US
Holdings. NEP Opco intends to use the net proceeds from the
issuance for general partnership purposes, including purchase of
Genesis Opco debt pursuant to a cash tender offer that commenced
Sept. 16, 2019.

NEP's ratings are driven by relatively stable and predictable
nature of contracted cash flow generation at its limited recourse
project subsidiaries, the asset and geographic diversity of its
wind, solar and natural gas pipeline portfolio, and strong sponsor
affiliation with NextEra, which is the largest renewable developer
in the U.S. Fitch believes the asset and geographic diversity of
NEP's portfolio and the long-term contractual nature of revenues
provide adequate visibility into the distributions that NEP
receives from its various project subsidiaries. NEP's ratings also
take into account the structural subordination of Holdco debt to
the substantial limited recourse debt at the project level, which
is typically sized to achieve a low to mid 'BBB' rating. It also
reflects management's target Holdco Debt/Parent Only FFO ratio of
4.0x-5.0x.

KEY RATING DRIVERS

Risk Emanating from PG&E's Bankruptcy: NEP has three solar
projects: Genesis (250 MW), Desert Sunlight (275 MW) and Shafter
(20 MW), which have a power purchase agreement (PPA) for all or
portion of their output with Pacific Gas & Electric (PG&E; Not
Rated). NEP is expected to derive 15% of its 2019 project cash
available for distribution (CAFD) from these three projects. PG&E
continues to execute on the PPA, but the bankruptcy filing has
resulted in a technical default under each project financing
agreement leading to cash to be trapped at the project level.

Technical Default for Genesis: The Genesis project has a
Holdco-Opco financing structure, which makes servicing of the
Holdco debt entirely reliant on Opco distributions. A bankruptcy
filing by PG&E is considered a technical default under the OpCo
debt, trapping cash at the OpCo level. A default at OpCo has
resulted in a technical default of the HoldCo debt. OpCo has
suspended distributions to HoldCo and HoldCo could suffer payment
default as early as September. Notwithstanding the technical
default caused by the bankruptcy, Genesis has been one of the best
performing assets in NEP's portfolio and is expected to continue as
such with OpCo and HoldCo level DSCRs well north of 2.0x.

On June 17, 2019, NEP launched a cash tender offer for all of
Genesis Holdco's outstanding 5.600% senior secured notes due 2038.
Approximately $115 million of debt was tendered. On Sept. 16, 2019,
NEP launched a tender offer for the outstanding Genesis Opco debt,
which stood at approximately $402 million as of the tender offer
date. A successful buy out of the Genesis Opco debt will cure the
technical default and allow NEP access to the cash trapped at the
project. Fitch continues to believe that PG&E is unlikely to reject
the PPA with Genesis.

Other Holdco Structures: Fitch has previously not consolidated any
debt at the non-recourse subsidiaries in its calculation of NEP's
credit metrics. However, since NEP issued debt to finance the
tender offer, Fitch has decided to include all debt held at
intermediate holding companies in its calculation of NEP's credit
metrics. NEP uses Holdco financing for its natural gas pipeline
assets, which stood at $200 million as of June 30, 2019.

Convertible Equity Portfolio Financings: Fitch favorably views
NEP's recent convertible equity portfolio financings with large
institutional investors. In 2018, NEP purchased 1.4 GW of wind and
solar portfolio from NextEra for $1.3 billion. The transaction was
funded with $573 million of proceeds from the sale of Canadian
assets and the balance with $750 million of convertible equity
portfolio financing with BlackRock Global Energy and Power
Infrastructure Fund (GEPIF). In March 2019, NEP entered into a
similar transaction with KKR. NEP announced plans to buy 611 MW
portfolio from NextEra for $1.02 billion and repay approximately
$220 million of project debt on a portfolio of 581 MW of wind
assets. The recapitalized wind assets along with the acquired 611
MW portfolio were placed into a partnership. KKR's Third Global
Infrastructure Investors Fund paid $900 million in exchange for an
equity interest in the partnership. NEP expects to periodically
exercise its right to buy out KKR's equity interest for a fixed
payment equal to $900 million, plus a fixed pre-tax annual return
of approximately 8.3 percent (inclusive of all prior distributions)
in partial interests between the three and a half and six-year
anniversaries of the agreement. Fitch's assignment of 100% equity
credit to these financings is based on the premise that NEP will
exercise its buyout right because a failure to do so can be
punitive since NEP's allocation of the distributable cash from the
portfolio will drop materially.

Contractual Cash Flows and Asset Diversity: The distributions that
NEP receives from the non-recourse project subsidiaries are well
diversified. The distributions are split as approximately 59% wind
portfolio, 22% solar and 19% natural gas pipelines weighted on YE
2019 project level CAFD. While the solar portfolio is largely CA
based, wind assets are geographically dispersed. Overall, the
portfolio derives 37% of its CAFD from West, 26% from Midwest, 20%
from South, 12% from Texas and 4% from Northern U.S. After the
latest transaction with KKR closes, NEP has 47 operating projects
compared wityh 10 in 2014. The asset and geographic diversity and
the long-term contractual nature of revenues provide high
visibility into the distributions from the project subsidiaries to
NEP Opco. The projects have no commodity risk. The concentration
risk has also materially decreased, with the top 5 projects
contributing 45% of CAFD versus greater than 84% at IPO. The top
five projects include three NET pipelines, Genesis and Desert
Sunlight projects.

Robust Outlook for Wind and Solar Generation: Fitch believes
improving economics, customer demand for cleaner generation and
state renewable policy standards (RPS) will continue to drive wind
and solar generation in the U.S. As a result, the Yieldcos should
find no scarcity of renewable assets to acquire from third parties
or their sponsor. NEP's ROFO agreement with NextEra, under which
NextEra will offer an identified set of solar and wind assets for
purchase at market prices, runs till July 1, 2020. NextEra
continues to have a large organic development program so there will
continue to be a large pipeline of wind and solar projects that it
can offer to NEP for purchase. As of Dec. 31, 2018, the ROFO
pipeline stood at 1.2 GW. Fitch believes NEP can meet its 12%-15%
unit LP distribution growth guidance through 2024 and continue to
have a competitive cost of capital. Fitch's forecasts do not
envisage diversification by NEP into other asset classes and
assumes future investments in its natural gas pipeline assets to be
modest.

NEP's Structural tax Advantages: Even though NEP is a C corporation
for U.S. federal income tax purposes, it is not expected to pay
meaningful federal income taxes for at least 15 years because of
NOLs generated through MACRS depreciation benefits. NEP
distributions up to an investor's outside basis are expected to be
characterized as non-dividend distributions or return of capital
for at least the next eight years. This makes NEP competitive to
MLPs as a yield plus growth vehicle.

Project debt sized for IG rating: The project debt for renewable
projects is typically sized to yield a DSCR greater than 1.2x and
generate a low 'BBB-'/'BBB' rating. Most recent DSCRs provided to
Fitch by NEP indicate that most of the renewable projects are
performing well in excess of their DSCR thresholds of 1.2x (2.75x
NET Pipeline and 1.10x for Desert Sunlight). The debt typically
matures within the expiration date of the long-term contracts on
any project. Approximately 97% of CAFD comes from assets with
either no distribution test (64% of total CAFD) or DSCRs currently
greater than 2.0x.

Target Capital Structure: The ratings of NEP and NEP Opco also take
into account the structural subordination of their debt to the
substantial limited recourse debt at the project level, which, as
mentioned, is typically sized to achieve a low to mid 'BBB' rating.
It also reflects management's target of maintaining Holdco
Debt/Parent Only FFO ratio in the 4.0x-5.0x range. Fitch defines
Parent Only FFO as project distributions less Holdco G&A expenses,
fee for management service agreement, credit fees and Holdco debt
service costs.

Strong Sponsor Support: NextEra established a ROFO portfolio at the
time of NEP's IPO in 2014 under which it offers to NEP an
identified set of solar and wind assets for purchase at market
prices. Aside from the drop down of 990 MWs at IPO, NEP has
purchased approximately 4.0 GWs of additional wind and solar assets
from Nextera. The ROFO agreement runs until July 1, 2020, and as of
Dec. 31, 2018, the ROFO pipeline stood at 1.2 GW. NextEra has
demonstrated other forms of sponsor support. In the fourth quarter
of 2016, NextEra implemented a structural modification to the
Incentive Distribution Rights fee structure that lowers NEP's cost
of equity and makes future acquisitions more accretive to LP
unitholders. NextEra also provides to NEP its management,
operational and administrative services via various service
agreements and financial management services through a cash sweep
and credit support agreement. These agreements will continue to
exist subject to the determination by NEP Board. The management
service agreement (MSA) between NextEra and NEP has a 20-year
contract life and cannot be terminated, except for cause. However,
NEP's board will have the ability to oversee the MSA.

Wind Variability a Key Risk: Fitch views resource variability as a
key risk factor for NEP since renewable generation is intermittent.
However, solar resource availability has typically been strong and
predictable in Fitch' experience and geographical diversity of
NEP's wind projects mitigates wind resource variability to a large
extent. Fitch has used P50 to determine its rating case production
assumption and P90 to determine its stress case production
assumption. The Holdco leverage metrics degrade by approximately 20
basis points in the stress case as compared with Fitch's base case
before additional stresses are applied in each of the scenarios.

Slippage in Counterparty Credit Quality: NEP's portfolio of assets
consists of long-term contracted projects with credit worthy
counterparties. NEP's portfolio currently has 16-year contract
life, weighted based on run-rate CAFD. The counterparty credit is
weighted average of 'BBB' based on Fitch and other rating agencies'
ratings. The average counterparty rating has declined from 'A-'
since 2017 in large part due to the decline in ratings for
California utilities. PG&E and SCE comprise 21% of expected 2019
run rate CAFD. The ratings for Pemex, which comprises 11% of
expected 2019 run rate CAFD, have also declined to 'BB+'/Negative
Outlook from 'BBB+'/Stable Outlook in 2016.

DERIVATION SUMMARY

Fitch views NEP's ratings to be positively positioned compared with
those of Atlantica Yield plc (AY; BB/Stable) and Terraform Power
(TERP; BB-/Stable) due to favorable geographic exposure, long-term
contractual cash flows with minimal regulatory risk, and
association with a strong sponsor. These factors more than offset
NEP's relative high leverage and weaker asset composition owing to
a larger concentration of wind assets.

NEP's ratings benefit from a strong sponsor, NextEra, which is the
largest developer and operator of renewable projects in the U.S.
with a strong track record and a solid development pipeline.
NextEra has demonstrated support for NEP in various forms including
structural modification of the Incentive Distribution Rights fee
structure, financial management services agreement and other
services agreements, and access to its development pipeline through
the Right of First Offer (ROFO) agreement. This provides visibility
to NEP's LP distribution per unit growth targets, which at 12%-15%
are more aggressive than those of AY (8%-10%) and TERP (5%-8%).
TERP's sponsor, Brookfield Asset Management (BAM, Not Rated), has
also demonstrated strong support for TERP by providing $650 million
equity to finance the acquisition of Saeta Yield, thereby taking
its ownership interest to 65%. In addition, BAM has committed to
support TERP through key agreements including management services
agreement, access to a 3,500 MW ROFO portfolio consisting of
operating wind and solar assets, and a $500 million four-year
secured credit facility at TERP for acquisitions. The support of
AY's new sponsor, Algonquin Power & Utilities Corp. (APUC,
BBB/Stable) is currently untested.

AY's portfolio benefits from a large proportion of solar generation
assets (77% of total MWs) that exhibit less resource variability.
In comparison NEP's portfolio consists of a large proportion of
wind MWs (84%). TERP's utility scale portfolio consists of 37%
solar and 63% wind. NEP's concentration in wind is mitigated to
certain extent by its diverse geographic footprint Fitch views
NEP's geographic exposure in the U.S. (100%) favorably as compared
with TERP's (64%) and AY's (36%). Both AY and TERP have exposure to
potential adverse changes to Spanish regulatory framework for
renewable assets. In terms of total MWs, approximately 40% of AY's
power generation portfolio is in Spain compared with 29% for TERP.

NEP's forecast credit metrics are stronger than TERP's but weaker
than AY's. Fitch forecasts NEP's Holdco debt to Parent Only FFO
ratio to be mid to high 4.0x compared with mid to high 5.0x for
TERP and low 3.0x for AY.

Fitch rates AY, NEP and TERP based on a deconsolidated approach
since their portfolio comprises assets financed using non-recourse
project debt or with tax equity. Fitch's Renewable Energy Project
Rating Criteria uses one-year P90 as the starting point in
determining its rating case production assumption. However, Fitch
has used P50 to determine its rating case production assumption for
AY, NEP and TERP since they own a diversified portfolio of
operational wind and solar generation assets. Fitch believes asset
and geographic diversity reduces the impact that a poor wind or
solar resource could have on the distribution from a single
project. Fitch has used P90 to determine its stress case production
assumption. If volatility of natural resources and uncertainty in
the production forecast is high based on operational history and
observable factors, a more conservative probability of exceedance
scenario may be applied in the future.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within Its Rating Case for NEP include:

  -- P50 scenario used for base case wind and solar production;

  -- Buyout right exercised with GEPIF and NEP to pay 70% of the
     buyout in common units with the balance paid in cash;

  -- Acquisition of operational and contracted renewable assets
     over 2019-2021 to meet 12% to 15% distribution per unit
growth;

  -- Acquisition CAFD between 8%-10%;

  -- Acquisitions funded with Holdco debt and equity such that
     target capital structure is maintained;

  -- PG&E continues to perform under its PPAs and emerges out
     of bankruptcy in 2022;

  -- NET Holdings debt treated as on credit;

  -- None of the project debt treated on-credit.

RATING SENSITIVITIES

Developments That May, Individually or Collectively, Lead to
Positive Rating Action

NEP's partnership agreement requires a substantial portion of
upstream distribution from NEP Opco to be distributed to its
unitholders. In addition, the structural subordination to the
non-recourse project debt caps the yieldco IDR at 'BB+'.

Developments That May, Individually or Collectively, Lead to
Negative Rating Action

  -- Growth strategy underpinned by aggressive acquisitions,
     addition of assets in the portfolio that bear material
     volumetric, commodity or interest rate risks;

  -- Material underperformance in the underlying assets that
     lends variability or shortfall to expected cash flow for
     debt service;

  -- Lack of access to equity markets to fund growth that may cast
     uncertainty regarding NEP's financial strategy;

  -- Distribution payout ratio approaching or exceeding 100%;

  -- Holdco leverage ratio exceeding 5.0x on a sustainable basis.

LIQUIDITY AND DEBT STRUCTURE

Improved Liquidity: NEP significantly improved its liquidity
position through upsizing its credit facility in May 2019 to $1.25
billion, from $750 million. The upsized facility provides
flexibility for NEP to finance acquisitions partly through revolver
borrowings, which can be subsequently termed out through equity and
debt capital market issuances. The new revolving credit facility
matures in February of 2024.


NEXTERA ENERGY: S&P Rates $500MM Sr. Unsecured Notes Due 2026 'BB'
------------------------------------------------------------------
S&P Global Ratings assigned its 'BB' issue-level rating and '3'
recovery rating to NextEra Energy Operating Partners L.P.'s (NEOP)
proposed $500 million senior unsecured notes due 2026. The '3'
recovery rating indicates S&P's expectation for meaningful
(50%-70%; rounded estimate: 65%) recovery in the event of a
default.

The tenor of the issuance will be seven years. NEOP intends to use
the net proceeds from the notes for general partnership purposes,
which may include funding the purchase of Genesis Solar 2011
Pass-Through Trust's outstanding 3.875% series A trust certificates
due 2038 and 5.125% series B trust certificates due 2038 by one of
its subsidiaries pursuant to a cash tender offer, which commenced
on Sept. 16, 2019.

NextEra Energy Partners L.P. (NEP) is a growth-oriented limited
partnership that NextEra Energy Resources Inc. (NEER) formed to
acquire, manage, and own contracted renewable energy projects with
relatively stable, long-term cash flows.

"Our 'BB' issuer credit rating on NEOP's parent NEP is based on our
satisfactory assessment of its business risk profile and our
aggressive assessment of its financial risk profile. Our business
risk assessment primarily reflects the diversity of NEP's
portfolio, the stability of its revenue from long-term contracts
with mostly investment-grade offtakers, its ownership of in-demand
gas pipelines, and its efficient production technology," S&P said.

S&P evaluates NEOP and NEP under its project developer methodology
and considers only the recourse debt at these companies in its
assessment (i.e. S&P deconsolidates project-level debt). With the
current issuance, the rating agency expects NEOP and NEP's debt to
increase to about $3.33 billion, though their cash available for
distribution (CAFD) will also increase with higher distributions
from the Genesis asset. This debt amount includes about $660
million of imputed debt relating to the two joint-venture
structures NEP has entered into (one each with Blackrock and KKR).


NOVASOM INC: Court Waives Patient Care Ombudsman Appointment
-------------------------------------------------------------
The Bankruptcy Court ordered that, under the specific circumstances
of NovaSom, Inc.'s bankruptcy case, a patient care ombudsman is not
necessary to protect the interests of the Debtor's customers; and
the requirement for the appointment of a patient care ombudsman is
waived.

The Debtor explained that while it employs physicians to oversee,
analyze and process home sleep testing results, the Debtor is not
engaged in providing typical medical care through the diagnosis or
treatment of injury, deformity, or disease. In addition, the Debtor
provides no surgical, drug treatment, obstetric or long-term care.
In this regard, the Debtor's business involves providing HST
equipment and diagnostic services and does not involve in-patient
or other facilities to treat patients for OSA or any other medical
condition.

The Debtor does not believe it is a health care business under the
Bankruptcy Code section 101(27A), and has filed the Motion for
waiver of the appointment of a patient care ombudsman at the
request of the Office of the United States Trustee.

                          About NovaSom

NovaSom, Inc. -- http://www.novasom.com/-- is a home sleep testing
company having its principal place of business in Glen Burnie, Md.
Its business model is to send a medical device (FDA approved sleep
recorder)to a patient's home in order for the patient to be tested
for obstructive sleep apnea in his or her own home, rather than in
a sleep lab, when a physician prescribes the HST based on symptoms
and the patient's condition.  The device records and auto-scores
the number of apnea events, then sends the data back to NovaSom's
servers via a cell phone chip in the device.  Sleep physicians are
then able to overscore the data and give an opinion to the ordering
physician as to the patient's likelihood of having OSA.

NovaSom sought Chapter 11 protection (Bankr. Del. Case No.
19-11734) on Aug. 2, 2019.  In the petition signed by Gregory J.
Stokes, president and CEO, the Debtor's assets are estimated to be
between $1 million and $10 million while liabilities are at the
same range.

The Hon. Brendan Linehan Shannon oversees the Debtor's case.  

Dilworth Paxson LLP is the Debtor's counsel.  Kurtzman Steady, LLC,
is co-counsel.  Donlin Recano & Company is the official claims and
noticing agent.

No official committee of unsecured creditors has been appointed in
the Chapter 11 case.


ODES INDUSTRIES: Final Cash Collateral Hearing Set for Oct. 1
-------------------------------------------------------------
Judge Edward L. Morris of yhe U.S. Bankruptcy Court for the
Northern District of Texas authorized Odes Industries, LLC to use
cash collateral on an interim basis in accordance with the
provisions in the Budget.

A final hearing will be held on Oct. 1, 2019, beginning at 9:30
a.m. to determine if the Debtor's right to use cash collateral
should be continued, modified or terminated.

The Debtor is allowed to use cash collateral and proceeds in which
Platinum Rapid Funding Group, Ltd. and Citizen Bank may assert a
lien position.

Platinum Rapid Funding and Citizen Bank  are each granted
replacement liens in existing and future accounts receivable and
inventory of the Debtor to the extent of any diminution in the
value of their respective collateral on account of the Debtor's use
of cash collateral.

Such replacement liens, however, will be subject and subordinate to
(a) all other validly existing and perfected security interests and
liens in such property, including any ad valorem taxes, and (b)
fees that are incurred pursuant to 28 U.S.C. Section 1930.

                       About Odes Industries

Odes Industries, LLC, an all-terrain vehicle (ATV) manufacturer in
Forth Worth, Texas, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Tex. Case No. 19-43582) on Aug. 31,
2019.  At the time of the filing, the Debtor estimated assets of
less than $50,000 and liabilities of between $1 million and $10
million.  The case is assigned to Judge Edward L. Morris.  Eric A.
Liepins, P.C., is the Debtor's counsel.



ODES INDUSTRIES: Seeks Approval on Interim Cash Collateral Use
--------------------------------------------------------------
Odes Industries, LLC, seeks emergency approval from the U.S.
Bankruptcy Court for the Northern District of Texas  for the
interim use of cash collateral to continue operations of the
company while effectuating a plan of reorganization.

The asserts that the continued operations of its business will
necessitate the use of the cash collateral particularly because it
still has to make payroll to 15 employees and has numerous projects
in various stages of completion.

Among the creditors who may have claims against the Debtor's
account's receivable and/or inventory are: Platinum Rapid Funding
Group and Citizen Bank.

The Debtor is willing to provide the secured creditors with
replacement liens pursuant to 11 U.S.C. Section 552 in accordance
with their existing priority without making any determination at
this time as to the validity or priority of the claims asserted by
the secured creditors.

                       About Odes Industries

Odes Industries, LLC, an all-terrain vehicle (ATV) manufacturer in
Forth Worth, Texas, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Tex. Case No. 19-43582) on Aug. 31,
2019.  At the time of the filing, the Debtor estimated assets of
less than $50,000 and liabilities of between $1 million and $10
million.  The case is assigned to Judge Edward L. Morris.  Eric A.
Liepins, P.C., is the Debtor's counsel.



OLMOS EQUIPMENT: Court Narrows Claims in Trustee Suit vs DCM
------------------------------------------------------------
In the case captioned Ronald Hornberger, Litigation Trustee,
Plaintiff, v. Davis Cedillo & Mendoza, Inc., Defendant, Adversary
No. 18-05238-CAG (Bankr. W.D. Tex.), Bankruptcy Judge Craig A.
Gargotta granted in part and denied in part Defendant's motion to
dismiss Plaintiff's first amended complaint for failure so state
cause.

Plaintiff timely filed his First Amended Complaint on Dec. 17,
2018. Plaintiff alleges three claims for relief: (1) recovery as a
preferential transfer under section 547; (2) fraudulent transfer
under sections 544, 547 and 548; and (3) objection to proof of
claim under section 502. Defendant argues on various grounds that
the claims for relief do not meet the plausibility standard under
Ashcroft v. Iqbal.

In Plaintiff's Opposition to Defendant's Motion to Dismiss,
Plaintiff argues that the Trustee has sufficiently set forth
factual allegations that plausibly contend that DCM unduly
influenced Olmos Equipment, Inc. to pay DCM for the representation
of Struthoff and S.W.L. Enterprise, Inc.. Further, the Litigation
Trustee maintains that he has sufficiently set forth factual
allegations that plausibly demonstrate that DCM knew that OEI was
only authorized to indemnify Struthoff (and not SWL) for legal fees
incurred by Struthoff in his capacity as an officer or director of
OEI "actually and necessarily incurred by [him] in any action,
suit, or proceeding to which [Struthoff] is made a party by reason
of holding that position."  The Litigation Trustee argues that he
has sufficiently plead and facially met his burden for plausibility
under Fed. R. Civ. P. 12(b)(6). The Litigation Trustee asserts that
the First Amended Complaint allows the Court to draw the reasonable
inference that DCM received a preferential transfer because: "(1)
the existence of the debtor-creditor relationship between OEI and
DCM, (2) the existence of the antecedent debt alleged to be owed by
the Debtor to DCM, (3) that the Debtor made each of the payments to
DCM which the Trustee seeks to recover, (4) that the payments were
made and negotiated within the one year preceding the Petition
Date, (5) that the Debtor was, based upon the Debtor's own
admissions and the calculations of the Trustee's outside
accountants, insolvent during at the time of the payments to DCM,
(6) that sufficient plausible facts have been plead to indicate
that DCM qualifies as a non-statutory insider of the Debtor, and
(7) that the payment to DCM enabled DCM to receive more than it
would have received under the conditions set forth in section
547(b)(5)."

The Court reviewed Defendant's Reply to Plaintiff's Opposition and
finds that the arguments raised duplicate earlier arguments in
Defendant's Motion to Dismiss. Further, because Defendant does not
raise any additional grounds for dismissing Counts 2 and 3 of the
First Amended Complaint (which were previously denied), the Court
will not revisit its prior ruling finding that Counts 2 and 3 met
the plausibility requirements of Fed. R. Civ. P. 12(b)(6).

The Court agrees with DCM that Plaintiff has not met the
plausibility requirements of showing that DCM is a non-statutory
insider of Debtor. Under the two-prong test of U.S. Medical, Inc.,
and Holloway, the Plaintiff has not shown that DCM had a
sufficiently close relationship with OEI or that DCM exercised
control or influence over the Debtor such that the transaction at
issue was not done at arm's length. The facts as deemed true only
allege a contractual relationship between DCM and OEI and the
course of dealing between the parties was that of an
attorney-client. DCM represented OEI in complex civil lawsuit in
state court that resulted in an adverse judgment. Plaintiff's
argument that Debtor's By-Laws or other corporate documents
precluded DCM from representing Debtor is unavailing -- Struhoff
had the requisite authority to engage DCM. Plaintiff has not cited
with any specificity as to which corporate provisions were
violated. Plaintiff's assertion that DCM had access to OEI's
internal documents is insufficient to support a finding that DCM
exercised control or influence over OEI. The fact that Debtor made
payments to DCM for services performed is precisely what any other
legal counsel would have requested in the allegations raised here.
The payments, based on Plaintiff's allegations, comport with what
was required under DCM's engagement letter. In sum, there are no
facts to indicate that the transaction between the Parties' was
anything other than arm's length.

A copy of the Court's Order dated April 16, 2019 is available at
https://bit.ly/2kzPbsY from Leagle.com.

John Wallis Harris , Law Office of John Wallis Harris, Leslie M.
Luttrell , Luttrell + Carmody Law Group, Thomas W. McKenzie , Law
Offices of Thomas W. McKenzie, San Antonio, TX, for Plaintiff and
Defendant.

                   About Olmos Equipment

Olmos Equipment Inc. filed a Chapter 11 petition (Bankr. W.D. Tex.
Case No. 16-51834) on Aug. 12, 2016.  The petition was signed by
Larry Struthoff, president.  The Debtor estimated assets at $1
million to $10 million and liabilities at $10 million to $50
million at the time of the filing.

The case is assigned to Judge Craig A. Gargotta.

The Debtor is represented by William B. Kingman, Esq., at the Law
Offices of William B. Kingman, PC.

U.S. Bankruptcy Judge Craig A. Gargotta entered an order approving
the appointment of Randolph N. Osherow as Chapter 11 Examiner for
the Debtor.

On May 1, 2017, the Court confirmed the Debtor's First Amended Plan
of Reorganization, as Modified.


OUTPUT SERVICES: S&P Affirms 'B-' ICR on Refinancing; Outlook Neg.
------------------------------------------------------------------
S&P Global Ratings affirmed its 'B-' issuer credit rating and its
'B-' issue-level rating on Output Services Group Inc.'s (OSG)
senior secured credit facilities. The '3' recovery rating is
unchanged.

Meanwhile, S&P assigned its 'CCC' issue-level and '6' recovery
ratings to OSG's proposed second-lien term loan.

Following a $115 million cash equity infusion, OSG intends to issue
a $235.5 million incremental first-lien term loan due March 2024
and a new $155 million second-lien term loan due September 2024 to
repay and refinance its debt. The company will also increase
commitments under its revolving credit facility to $20 million from
$15 million.

The rating affirmation reflects S&P's expectation for Output
Services Group Inc. (OSG) to successfully refinance its near-term
maturities, its high pro forma debt leverage despite the $115
million cash equity infusion, and the risk that potential
operational missteps integrating its numerous acquisitions or
weaker-than-expected operating performance will result in ongoing
cash flow deficits that weaken the company's modest liquidity
position. Following the transaction, OSG's capital structure will
remain highly leveraged, with S&P Global Ratings-calculated debt to
EBITDA measuring 7.6x in 2019, improving modestly to 7.3x in 2020.
At transaction close, the company will benefit from about $13
million of lower annual interest expense than was initially
contemplated for the refinancing, but its balance sheet cash and
revolving credit facility borrowing availability will be modest at
$42 million.

The negative outlook reflects OSG's high leverage, modest liquidity
profile, and high execution risk over the next 12 months as it
integrates its numerous and sizeable acquisitions, and pursues its
debt-financed acquisition growth strategy to realize its scale
benefits. S&P expects adjusted free operating cash flow (FOCF) to
debt in the low-single-digit percent area, and adjusted leverage in
the mid-7x area over the next 12 months.

"We could lower the rating if weaker-than-expected operating
performance or operational missteps result in our expectation that
the company cash balances and revolving credit facility
availability will fall below $35 million. In this scenario, we
could conclude that the capital structure is unsustainable or
believe that there is a high risk for a payment default or debt
restructuring within the next 12 months," S&P said.

"We could revise the outlook to stable if the company successfully
executes its operating plan, improving its reported FOCF generation
and liquidity profile. In this scenario, the company would have
organic revenue growth in the low-single-digit area and 50-100
basis points of EBITDA margin improvement through new business
wins, successful integration of its acquisitions, and improved
productivity and operating leverage," S&P said, adding that this
would likely result in FOCF to debt improving and remaining above
3%.


OWENS-ILLINOIS INC: S&P Alters Outlook to Neg., Affirms 'BB' ICR
----------------------------------------------------------------
S&P Global Ratings affirmed the 'BB' issuer credit rating on
Owens-Illinois Inc. (OI) and revised the outlook to negative from
stable. All other debt ratings on the company remain unaffected.

Cash flows are expected to be lower than previously projected this
year. Several factors have affected Owens-Illinois Inc. (OI) this
year, including poor weather conditions, higher maintenance
activity in Asia, higher start-up costs, unplanned facility
downtime in the U.S., and greater operational complexities as the
company shifts its U.S. production away from mega-beer, the
consumption of which continues to drop. Working capital is also
expected to be stretched because customers in its South American
markets typically have longer payment terms. As a result, S&P has
lowered its expectations for free cash flow for the year.

The negative outlook reflects the elevated risk that OI will be
unable to sustain adjusted debt to EBITDA below 5x due to lower
cash flows and its current elevated debt balance following recent
acquisitions.

"We could lower the rating on OI if it cannot lower its adjusted
debt to EBITDA below 5x by year-end 2019, and we believe additional
risks to cash flows will further hinder its ability to deleverage
its balance sheet in 2020. This could occur if the company
continues to see softness in volume demand, further operational
challenges that could affect margins, or a broader economic
downturn," S&P said.

"We could revise the outlook to stable if OI can generate
sufficient cash flow to deleverage its balance sheet such that we
expect adjusted debt to EBITDA to remain below 5x," the rating
agency said.


PANDA LIBERTY: S&P Lowers Debt Rating to 'CCC' on Refinancing Risk
------------------------------------------------------------------
S&P Global Ratings lowered its issue-level rating on Panda Liberty
LLC (Liberty) project's debt to 'CCC' from 'B-'. The '2' recovery
rating remains unchanged.

The downgrade reflects S&P's view that Liberty's capital structure
is currently unsustainable and that the project will likely face
challenges over the next several months as the debt maturity
approaches. Also, S&P believes that Liberty may breach its
financial covenant for a third time over the debt tenor. The
project's total actual cash flow available for debt service (CFADS)
during the first half of 2019 was about $33 million. S&P's
projection indicates that Liberty would need to generate CFADS of
between $17 million and $18 million for the third quarter and
another $17 million-$18 million for the fourth quarter to meet its
1.15x debt service coverage financial covenant for the
last-12-months (LTM), which is calculated as of the end of each
quarter.

The negative outlook reflects that S&P views Liberty's capital
structure as unsustainable given the elevated risk of another
financial covenant breach in the near term, which may trigger an
event of default if not cured with an equity infusion. Its outlook
also reflects the project's increased refinancing risk, with
maturity less than a year away. S&P said it may lower its rating on
Liberty's debt if it believes a default event is inevitable.

"We could lower our rating on Liberty's debt if we believe that a
payment default on its outstanding debt balance at maturity is
virtually certain. We could also lower our rating if Liberty once
again breaches the financial covenant and does not exercise the
remaining equity cure rights permitted under the credit agreement,"
S&P said.

"We could revise our outlook on Liberty's debt to stable upon a
successful execution of the refinancing. After refinancing, we
could consider an upgrade if we believe the power plant could
maintain debt service coverage ratios above 1.15x on a consistent
basis. This could occur if project realizes favorable spark spreads
and runs the power plant at a high capacity factor with minimal
forced outages," S&P said.


PANDA PATRIOT: S&P Lowers Debt Rating to 'B-'; Outlook Negative
---------------------------------------------------------------
S&P Global Ratings lowered its debt rating on Panda Patriot LLC's
senior secured term loan B to 'B-' from 'BB-'. The '2' recovery
rating is unchanged.

The downgrade indicates S&P's view that Patriot could possibly
violate the financial covenant test for the first time over the
next two quarters after a revision to the rating agency's base-case
projection, including a reduction in spark spreads to below $10 per
MW hour (MWh), reflecting the lower on and off-peak locational
marginal prices the rating agency has observed in multiple major
power trading hubs in the Pennsylvania-New Jersey-Maryland (PJM)
Interconnection. The downgrade also reflects underperformance
during the first half of 2019 that was below expectations with a
total of actual cash flow available for debt service (CFADS) of
about 30% lower than S&P's expectation partly due a decline in
wholesale power prices. S&P attributes this decline to decreased
load, mild weather during the 2018-2019 winter, and a low natural
gas price environment across most regions in PJM. S&P expects PJM
to remain in an oversupply state over the next 12 months, which may
continue to negatively affect both on and off-peak wholesale power
prices, especially in a continued low natural gas price
environment.

The negative outlook reflects S&P's view that Patriot's declining
operating performance could limit its ability to maintain
compliance with its financial covenant over the next several
quarters. Although there are still 14 months before debt maturity,
persistant underperformance could present some uncertainties on
refinancing the debt successfully as it gets closer to maturity.

"We could lower our rating on the senior secured term loan B to the
'CCC' category if Patriot violates the financial covenant over the
next 12 months before debt maturity, even if lenders grant covenant
waivers. We could also lower our rating if we believe that the
project will not be able to refinance the outstanding debt in full
and we view the capital structure as unsustainable," S&P said.

"We could revise the outlook back to stable if Patriot demonstrated
its ability to remain in compliance with the financial covenant
consistently over the next few quarters and restore the covenant
headroom. This could stem from better market conditions that
provide opportunities for the power plant to operate at a high
capacity factor and realize higher spark spreads consistently above
$10 per MWh," S&P said. The outlook revision would also require
Patriot to address the uncertainty over the refinancing plan,
according to S&P.


PAYLESS HOLDINGS: Court Approves Disclosure Statement
-----------------------------------------------------
The Second Amended Disclosure Statement Hearing of Payless Holdings
LLC, et al., is approved.

The Confirmation Hearing will be scheduled at 10:00 a.m. prevailing
Central
Time on October 23, 2019.

Any objection to Confirmation of the Plan must be filed and served
no later than 4:00 p.m. prevailing Central Time on October 17,
2019.

Subsequent to the filing of the previous versions of the Plan and
after arm’s length negotiations, the Debtors (through the Special
Committee, as more fully described in Article III.C.7 hereof), the
Creditors Committee and the Lender Plan Support Parties agreed to
the global settlement as set forth in the Plan. Pursuant to the
global settlement, among other terms: (i) holders of Tranche A-1
Term Loan Secured Claims will receive their respective share of
$68.8 million in cash consideration; (ii) holders of Tranche A-2
Term Loan Secured Claims will receive their respective share of
100% of the equity in the Reorganized Debtors; (iii) unsecured
creditors3 will receive their respective share, as set forth in the
Plan, of $15 million in cash consideration4; (iv) holders of claims
under the Debtors’ Prepetition Term Loan Facility will waive
recovery on account of their deficiency claims; (v) the expenses of
the Liquidating Trust of up to $2 million will be funded by the
Reorganized Debtors; and (vi) the Plan will provide for the release
of certain Causes of Action belonging to the Debtors’ Estates.
This settlement is a global settlement of all issues related to,
among other issues, the Debtors’ business, capital structure, and
certain Causes of Action belonging to the Estates.

Class 5A General Unsecured Claims of Payless ShoeSource Worldwide,
Inc. and Collective Brands Logistics Limited are impaired. Each
Holder of any such Claim shall receive its pro rata share of $8.4
million plus its pro rata share of any unused portion of the
Liquidating Trust Fee and Expense Cap of the Liquidating Trust
Distributable Assets.

Class 5B General Unsecured Claims of Debtors Other Than Payless
ShoeSource Worldwide, Inc. and Collective Brands Logistics Limited
are impaired. Each Holder of such Claim shall receive its pro rata
share of $5.1 million of the Liquidating Trust Distributable
Assets, less the Canadian GUC Amount, plus its pro rata share of
any unused portion of the Liquidating Trust Fee and Expense Cap of
the Liquidating Trust Distributable Assets.

Class 3 Tranche A-1 Term Loan Claims are impaired. Each Holder of
an Allowed Tranche A-1 Term Loan Claim shall receive, in full
satisfaction, settlement, release and discharge of, and in exchange
for such Tranche A-1 Term Loan Secured Claim, its pro rata share of
$68,800,000 in Cash.

Class 4 Tranche A-2 Term Loan Secured Claims are impaired. Each
holder of Tranche A-2 Term Loan Secured Claim shall receive its pro
rata share of 100% of the New Common Units, unless such Holder
exercises the Cash Election at the time of voting on the Plan.

Class 6 Intercompany Claims. Each Intercompany Claim shall either
be (a) reinstated as of the Effective Date or (b) cancelled, in
which case no distribution shall be made on account of such
Intercompany Claim, in each case as determined by the Debtors and
the Requisite Lender Plan Support Parties.

Class 7 Existing Equity Interests in Payless are impaired. All
Existing Equity Interests in Payless, whether represented by stock,
preferred share purchase rights, warrants, options, membership
units or otherwise, will be cancelled, released, and extinguished
and the Holders of such Existing Equity Interests will receive no
distribution under the Plan on account thereof.

Class 8 Intercompany Interests. Each Intercompany Interest shall
either be (a) reinstated as of the Effective Date or (b) cancelled,
in which case no distribution shall be made on account of such
Intercompany Interest, in each case as determined by the Debtors
and the Requisite Lender Plan Support Parties.

The Cash necessary for the Reorganized Debtors to make Cash
payments required pursuant to the Plan will be funded from three
sources: (1) proceeds from the New First Lien Facility and New
Second Lien Facility; (2) Cash on hand as of the Effective Date;
and (3) cash from the Axar Cash Election Payment and any other Cash
to be paid by the Axar Entities and the Alden Entities under the
Cash Election Commitment Agreement.

A full-text copy of the Disclosure Statement dated September 20,
2019, is available at https://tinyurl.com/y6mhttff from
PacerMonitor.com at no charge.

A full-text copy of the solicitation version of the Disclosure
Statement is available at https://tinyurl.com/y5j78tcl from
PrimeClerk.com at no charge.

Counsel to the Debtors are Richard W. Engel, Jr., Esq., Erin M.
Edelman, Esq., and John G. Willard, Esq., at Armstrong Teasdale
LLP, in St. Louis, Missouri; Ira Dizengoff, Esq., Meredith A.
Lahaie, Esq., and Kevin Zuzolo, Esq., at Akin Gump Strauss Hauer &
Feld LLP, in New York; Julie Thompson, Esq., at Akin Gump Strauss
Hauer & Feld LLP, in Washington, D.C.; and David Staber, Esq., at
Akin Gump Strauss Hauer & Feld LLP, in Dallas, Texas.

Counsel to the Debtors, acting at the direction of the Special
Committee are John R. Ashmead, Esq., Robert J. Gayda, Esq., and
Catherine V. LoTempio, Esq., at Seward & Kissel LLP, in New York.

                    About Payless Holdings

Payless -- http://www.payless.com-- was founded in 1956 as an
everyday footwear retailer.  It has more than 4,000 stores in more
than 30 countries, and employs approximately 22,000 people.  It is
headquartered in Topeka, Kansas, but its operations span across
Asia, the Middle East, Latin America, Europe, and the United
States.

Payless first traded publicly in 1962, and was taken private in May
2012.  Payless Holdings, LLC currently owns, directly or
indirectly, each of its 91 subsidiaries.

Payless Holdings LLC (Bankr. E.D. Mo. Case No. 17-42267) and its
subsidiaries sought protection under Chapter 11 of the Bankruptcy
Code on April 4, 2017.  The petitions were signed by Paul J. Jones,
chief executive officer.  

At the time of the filing, the Debtors estimated their assets at
$500 million to $1 billion and liabilities at $1 billion to $10
billion.  

The Debtors hired Guggenheim Securities LLC as financial advisor
and investment banker; Alvarez & Marsal North America LLC as
restructuring advisor; Prime Clerk LLC as claims, balloting and
administrative agent; and Osler, Hoskin & Harcourt LLP as CCAA
counsel.

Cassels Brock & Blackwell LLP serves as counsel in the CCAA
proceedings while Seward & Kissel LLP serves as counsel for the
Debtors' independent managers.

The Office of the U.S. Trustee on March 1 appointed seven creditors
to serve on the official committee of unsecured creditors in the
Chapter 11 cases of Payless Holdings LLC and its affiliates.  The
Committee retained Pachulski Stang Ziehl & Jones LLP as lead
counsel, Province, Inc., as financial advisor, and Back Bay
Management Corporation and its division, The Michel-Shaked Group,
as expert consultant and Dr. Israel Shaked as expert witness.


PEABODY ENERGY: 8th Cir. Affirms Judgment Approving Chapter 11 Plan
-------------------------------------------------------------------
In the case captioned Ad Hoc Committee of Non-Consenting Creditors,
Appellant, v. Peabody Energy Corporation; Citibank, N.A.; Aurelis
Capital Management, LP; Elliott Management Corporation; South
Dakota Investment Council; Panning Capital Management, LP;
PointState Capital, LP; Contrarian Capital Management, LLC;
Discovery Capital Management; South Dakota Retirement System;
Wilmington Savings Fund Society, FSB; Official Committee of
Unsecured Creditors of Peabody Energy Corporation, Appellees, No.
18-1302 (8th Cir.), the United States Court of Appeals, Eighth
Circuit affirms the judgment of the district court approving
Peabody Energy Corporation and affiliates' plan based on the
merits.

At issue is whether the bankruptcy court erred in determining that
the Debtors' plan satisfied the equal-treatment rule and was
proposed in good faith.

On the first issue, the Court agrees with the bankruptcy court that
the right to participate in the Private Placement was not
"treatment for" a claim. The right to participate in the Private
Placement was consideration for valuable new commitments.
Consequently, the plan did not violate the equal-treatment rule of
section 1123(a)(4).

The Ad Hoc Committee argues a lack of good faith for three reasons:
(1) "the Plan failed to maximize the value of the Debtors' estate"
because the preferred stock was not sold for its full value; (2)
"the Plan gave certain class members additional benefits in
exchange for settling class-wide disputes"—namely, the Noteholder
Co-Proponents were able to buy more preferred stock in the Private
Placement than other members of their class; and (3) "the Plan
Proponents employed a coercive process that induced holders to vote
to accept the Plan."

The Court holds that the bankruptcy court did not clearly err in
finding that the Debtors proposed their plan in good faith. The
record shows that the Debtors mediated with their creditors to
resolve a major dispute between those creditors. The Debtors
reached a settlement with substantial input from the negotiating
parties. Other creditors who received notice, including members of
the Ad Hoc Committee, could have joined had they chosen to
intervene in the mediation. The settlement revolved around a plan
that allowed all first-lien holders to be paid off, all second-lien
holders to receive approximately 52.4% of the face value of their
claims, and all unsecured creditors to receive approximately 22.1%
of their claims' face value. The plan garnered tremendous
consensus--all twenty classes of creditors voted overwhelmingly to
approve the plan and approximately 95% of the Debtors' unsecured
creditors agreed to participate in the Private Placement and make
backstop commitments. And the Debtors permitted alternative plans
to be proposed, all of which the Debtors considered with advisors
and at board meetings.

The Ad Hoc Committee disagrees, arguing that the plan failed to
maximize value. The Court acknowledges that the Debtors might have
made more money selling the preferred stock at full price. However,
this argument ignores the point that the Debtors might not have
convinced the parties to the security-interest dispute to settle or
commit to any number of the other agreements if the Debtors had not
offered the preferred stock at a discount. The Debtors' overall
efforts to reorganize might have otherwise been thwarted had they
followed the course proposed by the Ad Hoc Committee. The Court
cannot look merely at the potential virtues of the Ad Hoc
Committee's proposed alternative while ignoring the potential risks
involved.

The Ad Hoc Committee also argues that the Noteholder Co-Proponents
received a disproportionate opportunity to participate in the
Private Placement. The Court sees no merit to their concern. A
sub-group of a creditor class certainly obtained favored treatment
by participating in the mediation and in the offerings formulated
in that mediation. However, that sub-group took on more obligations
than other members of the class: They put themselves on the hook to
buy more of the preferred stock if it did not sell, something that
might easily have happened as the Debtors were emerging from
mediation during volatile coal-market seasons.

Finally, the Ad Hoc Committee argues that the Debtors coercively
solicited votes in favor of the plan. The Court is somewhat
sympathetic to this argument. It is troubling that creditors
wishing to take part in the Private Placement had to elect to do so
before approval of all the agreements and the disclosure statement.
The Court is convinced, however, by the Debtors' argument that time
was of the essence given the volatile nature of the coal market.
Moreover, delay was likely to cost the Debtors around $30 million
per month in addition to other litigation costs. The Court also
finds convincing an argument made by the Official Committee that,
were it not for the existence of a support agreement, Private
Placement parties might have had an incentive to sabotage the plan
and obtain breakup fees should coal-market conditions worsen.

Thus, despite any reservation the Court might have regarding the
good faith question, the Court has not been left with a "definite
and firm conviction that a mistake has been committed." The Court,
therefore, does not disturb the bankruptcy court's factual finding
that the Debtors proposed their plan in good faith.

A copy of the Court's Decision dated April 16, 2019 is available at
https://bit.ly/2mvjp0V from Leagle.com.

John Gerard Young, Jr., for Appellee.

Steven N. Cousins, for Appellee.

Spencer P. Desai, for Appellee.

Gregory D. Willard, for Appellee.

Robert A. Breidenbach, for Appellee.

Susan K. Ehlers, for Appellee.

Brian C. Walsh, for Appellee.

Shay Dvoretzky, for Appellee.

Joseph R. Palmore, for Appellee.

Jonathan D. Hacker, for Appellant.

Ryan C. Hardy, for Appellee.

Robert W. Hamilton, for Appellee.

               About Peabody Energy Corporation

Headquartered in St. Louis, Missouri, Peabody Energy Corporation --
http://www.PeabodyEnergy.com/-- 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 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.

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 jointly administered
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.

On March 17, 2017, the U.S. Bankruptcy Court for the Eastern
District of Missouri, Eastern Division, entered an order confirming
the Second Amended Joint Plan of Reorganization of Peabody Energy
Corporation, et al., as Revised March 15, 2017.  At 4:01 p.m.
(Eastern Time), on April 3, 2017, the Effective Date of the Plan
occurred.


PETROLEUM TOWERS: Plea on Cash Collateral Use Dismissed as Moot
---------------------------------------------------------------
Judge Ronald King of the U.S. Bankruptcy Court for the Western
District of Texas has entered an order dismissing Petroleum Towers
- Cotter, LLC's  Emergency Motion for Authority to Use Cash
Collateral in the Ordinary Course, Provide Adequate Protection and
for Preliminary Hearing as moot.

                 About Petroleum Towers - Cotter

Petroleum Towers - Cotter, LLC, is the owner of the twin 8-story
Petroleum Towers located at 8626/8700 Tesoro Dr. San Antonio,
Texas.  The Towers --
http://www.cotteroffices.com/portfolio-type/petroleum-towers--
feature parking space, quick access to major arteries, close
proximity to hotels, restaurants, retailers and business services,
24/7 card-key building access, and an on-site management and
maintenance team.

Petroleum Towers - Cotter filed a Chapter 11 petition (Bankr. W.D.
Tex. Case No. 18-50197) on Feb. 1, 2018.  In the petition signed by
Marcus P. Rogers, Ind. Adm. of the Estate of James F. Cotter,
Dec'd, the Debtor estimated assets and liabilities at $10 million
to $50 million.  The case is assigned to Judge Ronald B. King.  The
Office of H. Anthony Hervol is the Debtor's bankruptcy counsel.



PH DIP INC: Dec. 5 Plan Confirmation Hearing
--------------------------------------------
PH Dip, Inc., filed a third amended Chapter 11 Plan of Liquidation
and accompanying disclosure statement.

Confirmation Hearing will be on December 5, 2019 at 10:00 a.m. in
Courtroom 1375, United States Bankruptcy Court, 255 E. Temple
Street, Los Angeles, CA 90012.

General Unsecured Claims (Class 4). Each Holder of an Allowed Class
4 General Unsecured Claim shall receive in full and complete
satisfaction, discharge, exchange, and release of its Allowed Class
4 General Unsecured Claim, its Pro Rata share of the Liquidation
Trust Interests.

Preferred Bank (Class 1) are impaired. Holders of Allowed Class 1
Claims are entitled to vote to accept or reject the Plan. Preferred
Bank will receive a total of $1.8 million, which has already been
received, in distributions from cash collateral proceeds and other
Assets received by the Estate from any source, inclusive of all
amounts previously paid (but excluding avoidance actions recoveries
and the Black Friday funding to Preferred Bank under prior
orders).

Priority Non-Tax Claims (Class 3).  Each Holder of an Allowed
Priority Non-Tax Claim shall receive, in full satisfaction,
discharge, exchange, and release of such Allowed Priority Non-Tax
Claim, Cash equal to the full amount of the Allowed Priority
Non-Tax Claim as soon as practicable on or following the later of:
(i) the Distribution Date; or (ii) 15 Business Days after the date
that such Claim becomes an Allowed Priority Non- Tax Claim.

Subordinated Insider Claims (Class 5). Subordinated Insider Claims
shall not receive or retain any Distribution or property on account
of such Subordinated Insider Claims. Holders of Class 5 Claims
shall receive no Distribution under the Plan.

Interests (Class 6). On the Effective Date, all Class 6 Equity
Interests shall be deemed without monetary value as a result of the
insolvency of the Debtor, and all Equity Interests will be
cancelled, annulled and extinguished without any further action by
the Debtor, the Liquidation Trustee, or any other entity, and each
Holder thereof shall not be entitled to, and shall not receive or
retain, an property or interest in property on account of such
Equity Interests.

The objectives of the Plan1 are to complete the liquidation of any
remaining Assets of the Debtor and to transfer the Assets of the
Debtor and the Estate, including the Causes of Action, to the
Liquidation Trust, which shall liquidate the Causes of Action and
all other Trust Assets and distribute the proceeds thereof to
Holders of Allowed Claims that will receive Liquidation Trust
Interests in respect of their Allowed Claims.

A full-text copy of the Disclosure Statement dated September 20,
2019, is available at https://tinyurl.com/yytboppz from
PacerMonitor.com at no charge.

Attorneys for PH DIP:

     Robert P. Goe, Esq.
     GOE & FORSYTHE, LLP
     18101 Von Karman Ave., Ste. 1200
     Irvine, CA 92612
     Email: rgoe@goeforlaw.com
     Telephone: (949) 798-2460
     Facsimile: (949) 955-9437

                    About Playhut, Inc.

Playhut, Inc. -- https://www.playhut.com/ -- is a toy producer
based in City of Industry, California, offering innovative toys
such as indoor and outdoor play structures, baby structures, dolls,
and plushes.  Founded in 1992, Playhut's products are sold North
and South Americas, Europe, Asia, and Australia.  The company also
partners with major retailers such as Walmart, Target, Kmart, Toys
'R' US, Costco, Amazon, QVC, JC Penney and licensed brands such as
Disney, Marvel, Nickelodeon, HiT, Lucasfilms.

Playhut, Inc., filed a Chapter 11 petition (Bankr. C.D. Cal. Case
No. 18-15972) on May 24, 2018.  In the petition signed by Zu Zheng,
president, the Debtor estimated $1 million to $10 million in assets
and $10 million to $50 million in liabilities.  The Hon. Julia W.
Brand is the case judge.

Robert P. Goe, and Stephen Reider, at Goe & Forsythe, LLP, serve as
general bankruptcy counsel to the Debtor; and Armory Consulting
Co., as its financial advisor.  The Court appointed James Wong as
Playhut's CRO effective as of July 11, 2018.

Peter C. Anderson, the U.S. Trustee for the Central District of
California, on June 28, 2018, appointed an official committee of
unsecured creditors.  The committee members are: (1) East West
Associates, Inc.; (2) Changzhou Kangyuan Plastic Co. Ltd; and (3)
Yancheng Changhua Outdoor Products Co., Ltd.  The Committee
retained Fox Rothschild LLP as counsel.

Playhut Inc. changed its name to PH DIP, Inc.


PINE CREEK MEDICAL: Asks Court to Determine PCO Not Needed
----------------------------------------------------------
Pine Creek Medical Center LLC filed a motion with the Bankruptcy
Court for an order determining that appointment of a patient care
ombudsman is not needed given the particular facts of this case.

The Debtor was founded in 2003 as a single location,
physician-owned surgical hospital and provided inpatient,
outpatient, emergency, and other ancillary services from its
location in Dallas, Texas. The hospital and business headquarters
for the Debtor were located at 9032 Harry Hines Boulevard, Dallas,
Texas 75235.

On April 29, 2019, the Debtor ceased admitting new patients. The
following month, the Debtor's Board of Directors appointed Mark
Shapiro as Chief Restructuring Officer with the directive of
winding down the Debtor's operations and procuring a purchaser of
the Debtor's remaining assets or operations as a going concern.
Despite receiving serious consideration from two potential
purchasers, the sale process was unsuccessful.

The Debtor no longer operates its facility as a hospital that
regularly serves patients. Accordingly, the Debtor is no longer
engaged in routine patient care.

Therefore, the Debtor requests that this Court determine that the
appointment of a patient care ombudsman under is not needed because
the Debtor is no longer a "health care business" for the purposes
of 11 U.S.C. Section 333 or, in the alternative, because of the
particular facts and circumstances of this case.

The Court sets a hearing on October 10, 2019 at 9:00 AM, to
determine the issue of whether or not a patient care ombudsman
shall be appointed in this case.

                  About Pine Creek Medical Center

Pine Creek Medical Center, LLC, owns and operates a general medical
and surgical hospital.

Pine Creek Medical Center filed a Chapter 11 bankruptcy petition
(Bankr. N.D. Tex. Case No. 19-33079) in Dallas, Texas, on Sept. 13,
2019.  In the petition signed by CRO Mark D. Shapiro, the Debtor is
estimated to have assets at $1 million to $10 million and
liabilities at $10 million to $50 million.  Judge Harlin DeWayne
Hale oversees the case.  HUSCH BLACKWELL, LLP, is the Debtor's
counsel.


PINE CREEK MEDICAL: Liquidation, Sale Proceeds to Fund Plan Payment
-------------------------------------------------------------------
Pine Creek Medical Center LLC filed a Chapter 11 Plan of
Reorganization and accompanying Disclosure Statement.

Class 5: Allowed General Unsecured Claims. Claims in Class 5 will
be paid on a pro-rata basis from the funds generated from the
proceeds from the liquidation and sale of the Debtor's assets,
after payment of Allowed Claims in Classes 1 through 4.

Class 1: Allowed Priority Tax Claims. To the extent that such
Claims exist, the Allowed Priority Tax Claims will be paid with the
proceeds of the sale of the Debtor’s business. Proceeds will be
distributed on the Effective Date pursuant to priorities in 11
U.S.C. Section 726.

Class 2: Allowed Priority Non-Tax Claims. To the extent that such
Claims exist, each holder of an Allowed Priority Non-Tax Claim
shall be paid with the proceeds of the sale of the Debtor's assets.
Proceeds will be distributed on the Effective Date pursuant to
priorities in 11 U.S.C. Section 726.

Class 3: Allowed Secured Property Tax Claims. The allowed secured
claim of Dallas County will be paid in full within thirty (30) days
of the Effective Date of the Plan, together with interest accruing
at the rate required by 11 U.S.C. Section 511.

Class 4: Allowed Secured Claims. This Class shall consist of
Allowed Secured Claims of the Debtor. To the extent that a Secured
Claim is finally allowed and to the extent that a Secured Claim has
not been previously paid in full, the Debtor will pay the holder of
an Allowed Secured Claim an amount equal to the allowed amount of
the Secured Claim, which will be equal to the value, as of the
Effective Date, of at least the value of such holder's interest in
the Debtor's interest in such property.

Class 6: Equity Interests in Debtor. The equity interests in Class
6 will be extinguished by operation of the Confirmation Order.

As of the Petition Date, the Debtor's scheduled assets totaled
$5,392,170.85.

A full-text copy of the Disclosure Statement dated September 20,
2019, is available at https://tinyurl.com/y6bkswnd from
PacerMonitor.com at no charge.

Proposed counsel for the Debtor:

     Buffey E. Klein, Esq.
     HUSCH BLACKWELL LLP
     1900 N. Pearl Street, Suite 1800
     Dallas, Texas 75201
     Phone: (214) 999-6100
     Fax: (214) 888-6170
     Email: buffey.klein@huschblackwell.com

        -- and --

     Lynn H. Butler, Esq.
     HUSCH BLACKWELL LLP
     111 Congress Avenue, Suite 1400
     Austin, Texas 78701
     Phone: (512) 479-9758
     Fax: (512) 479-1101
     Email: lynn.butler@huschblackwell.com

                   About Pine Creek Medical Center

Pine Creek Medical Center, LLC, owns and operates a general medical
and surgical hospital.

Pine Creek Medical Center filed a Chapter 11 bankruptcy petition
(Bankr. N.D. Tex. Case No. 19-33079) in Dallas, Texas, on Sept. 13,
2019.  In the petition signed by CRO Mark D. Shapiro, the Debtor is
estimated to have assets at $1 million to $10 million and
liabilities at $10 million to $50 million.  Judge Harlin DeWayne
Hale oversees the case.  HUSCH BLACKWELL, LLP, is the Debtor's
counsel.


POET TECHNOLOGIES: Closes Fifth Tranche of Convertible Debentures
-----------------------------------------------------------------
POET Technologies Inc. has closed a fifth and final offering of its
previously announced 12.0% convertible unsecured debentures
brokered by the Company's financial advisor IBK Capital.  The
Company raised gross proceeds of C$182,000 through the fifth
tranche closing and, together with the approximately C$4.9 million
in gross proceeds collectively raised from the first, second, third
and fourth tranche closings on April 4, May 3, June 3, and Aug. 6,
2019, respectively, the Company has now raised approximately C$5.1
million.  IBK Capital was paid a cash commission of 5.0% of the
gross proceeds raised.

Proceeds from the fifth tranche of Convertible Debentures are
expected to be used to fund operations pending the completion of
the Company's previously announced sale of its subsidiary
DenseLight Semiconductors Pte Ltd., expected in October 2019.  The
Company does not expect to offer any further tranches related to
this series of Convertible Debentures.

The Convertible Debentures are subject to a hold period of four
months expiring on Jan. 20, 2020.  The Convertible Debentures may
be converted in accordance with their terms prior to the expiry of
the hold period, but the common shares and warrants comprising the
units issued on such conversion (as well as any common shares
issued on exercise of such warrants) will be subject to the
unexpired balance of the four month hold period.

                    About POET Technologies

POET Technologies -- http://www.poet-technologies.com/-- is a
developer and manufacturer of optical light source products for the
sensing and data communications markets.  Integration of optics and
electronics is fundamental to increasing functional scaling and
lowering the cost of current photonic solutions.  POET believes
that its approach to hybrid integration of devices, utilizing a
novel dielectric platform and proven advanced wafer-level packaging
techniques, enables substantial improvements in device cost,
efficiency and performance.  Optical engines based on this
integrated approach have applications ranging from data centers to
consumer products.  POET is headquartered in Toronto, with
operations in Ottawa, Silicon Valley, the United Kingdom, and
Singapore.

POET incurred net losses of $16.32 million in 2018, $12.79 million
in 2017, and $13.22 million in 2016.  As of June 30, 2019, POET had
$26.53 million in total assets, $9.49 million in total liabilities,
and $17.03 million in shareholders' equity.

Marcum LLP, in New Haven, CT, the Company's auditor since 2009,
issued a "going concern" qualification in its report dated April
29, 2019, on the Company's consolidated financial statements for
the year ended Dec. 31, 2019, stating that the Company has a
significant working capital deficiency, has incurred significant
losses and needs to raise additional funds to meet its obligations
and sustain its operations.  These conditions raise substantial
doubt about the Company's ability to continue as a going concern.


PRESSURE BIOSCIENCES: Appoints New Chief Financial Officer
----------------------------------------------------------
Daniel J. Shea has joined Pressure BioSciences, Inc., as senior
vice president and chief financial officer effective Sept. 13,
2019.  In this key leadership position, Mr. Shea will be
responsible for directing and overseeing all aspects of the Finance
and Administration functions of the Company, including financial
reporting and analysis; compliance with GAAP and applicable laws
and rules for financial and tax reporting; forecasting and
budgeting; primary liaison with the Company's independent
accounting firm; and leadership in the development of short and
long-term financial objectives.

"It's an exciting time to join Pressure BioSciences," said Mr.
Shea.  "PBI's unique platform technologies, worldwide customer
base, growing revenue stream, and strong management team position
the Company well to capitalize on substantial growth opportunities
across the globe.  I stand ready to support the Company's
commitment to high-quality financial reporting and internal control
as it navigates through these opportunities in the coming years.  I
look forward to using my background and skills to facilitate the
Company's growth while we bring increased value to all
shareholders."

Mr. Shea, age 54, has over 30 years of experience in leading and
advising financial organizations.  Since January 2017, he has
operated Woodcliff Advisors LLC, a CPA advisory firm providing
counsel to boards, CFOs and senior management.  Through Woodcliff,
Mr. Shea personally filled CFO roles at public and private
companies in the financial services and technology industries.
From 1998 to 2016, he was a senior vice president at Affiliated
Managers Group, Inc., a publicly traded asset management holding
company with a long record of growth through acquisition.  His core
experience is in acquisitions, SEC reporting, internal controls,
and the capital markets. Previously, he advised financial services
firms at PricewaterhouseCoopers where his clients included asset
managers, banks, private equity firms, mutual funds and leasing
companies. Mr. Shea is a certified public accountant and earned his
B.S. in Finance and Accounting from Boston College.

Mr. Richard T. Schumacher, president and CEO of PBI, added: "We are
pleased to have someone with Dan's experience and capabilities join
PBI at such an important time in our corporate evolution.  We
believe all three of our patented technology business platforms
have the potential for rapid growth over the next 12-18 months.  To
that end, we have given guidance that we believe total revenue in
2020 will be more than double total revenue of 2019.  Such rapid
growth will require reliable and supportive financial systems to be
securely in place to facilitate smooth and timely financial
reporting.  It will also require a close and continued relationship
with the capital markets.  We are fortunate to have a seasoned
financial professional like Dan join us at this most important
time, to lead this financial transformation."

Mr. Schumacher continued: "I will be transferring many
responsibilities to Dan that have been on my plate as interim CFO.
This welcomed transition will allow me to focus time on multiple
opportunities that we believe offer great potential for commercial
growth and increased financial security for PBI, including
strategic partnerships, collaborations, acquisitions, and customer
adoption/revenue acceleration programs.  This is a very exciting
time for stakeholders in PBI."

In connection with Mr. Shea's appointment as the Company's CFO, Mr.
Shea will be paid a bi-weekly salary of $5,400.  Upon his
appointment, Mr. Shea also received 52,550 non-qualified stock
options and executed an Indemnification Agreement with the
Company.

                     About Pressure Biosciences

South Easton, Massachusetts-based Pressure BioSciences --
http://www.pressurebiosciences.com/-- is engaged in the
development and sale of innovative, broadly enabling,
pressure-based solutions for the worldwide life sciences industry.
The Company's products are based on the unique properties of both
constant (i.e., static) and alternating (i.e., pressure cycling
technology) hydrostatic pressure.  PCT is a patented enabling
technology platform that uses alternating cycles of hydrostatic
pressure between ambient and ultra-high levels to safely and
reproducibly control bio-molecular interactions.

Pressure Biosciences reported a net loss attributable to common
shareholders of $23.47 million for the year ended Dec. 31, 2018,
compared to a net loss attributable to common shareholders of
$10.71 million for the year ended Dec. 31, 2017.  As of June 30,
2019, the Company had $2.24 million in total assets, $10.42 million
in total liabilities, and a total stockholders' deficit of $8.18
million.

MaloneBailey, LLP, in Houston, Texas, the Company's auditor since
2015, issued a "going concern" qualification in its report dated
April 16, 2019, on the Company's consolidated financial statements
for the year ended Dec. 31, 2018, citing that the Company has a
working capital deficit, has incurred recurring net losses and
negative cash flows from operations.  These conditions raise
substantial doubt about the Company's ability to continue as a
going concern.


PRESTIGE-PLUS HEATH: Asks Court to Dispense With PCO Appointment
----------------------------------------------------------------
Prestige-Plus Health Services, Inc., is not a Health Care Business.
The Debtor's business consisted of provide home health care
assistance for customers and engaged in offering to the general
public facilities and services for diagnosis or treatment of
injury, deformity or disease.

Therefore, the Debtor's bankruptcy was not caused by patient care
issues and the appointment of an Ombudsman under Bankruptcy is not
necessary.  The Debtor would request this matter be set down for
hearing and that upon hearing, this Court enter an Order that no
Ombudsmen need be appointed, and for such other and further relief
as the Debtor may show itself justly entitled.

                       About Prestige-plus Health Services Inc

Prestige-Plus Health Services Inc is a home health agency in Allen,
Texas. Prestige-Plus Health Services, Inc. sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. E.D. Texas Case No.
19-42366) on Aug. 30, 2019. Eric A. Liepins, P.C. represents the
Debtor as counsel.


PRO TECH MACHINING: U.S. Trustee Unable to Appoint Committee
------------------------------------------------------------
The Office of the U.S. Trustee on Sept. 19 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of Pro Tech Machining, Inc.

                     About Pro Tech Machining

Pro Tech Machining, Inc., is an S-Corporation that does business as
a machining shop.  The Debtor sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. W.D. Pa. Case No. 19-10690) on July 10,
2019.  The petition was signed by Edward C. Nelson, president.  At
the time of the filing, the Debtor estimated assets of less than
$50,000 and liabilities of less than $1 million.  The Debtor is
represented by Christopher M. Frye, Esq., and his firm Steidl &
Steinberg.


PROFLO INDUSTRIES: Allowed to Continue Using Cash Through Nov. 30
-----------------------------------------------------------------
The Hon. Mary Ann Whipple of the U.S. Bankruptcy Court for the
Northern District of Ohio has entered a ninth order authorizing
ProFlo Industries, LLC, to use of cash collateral on an interim
basis until Nov. 30, 2019.

The Debtor is authorized, on an interim basis to use cash
collateral consisting of and including bank balance, accounts
receivable of the estate and gross sales of goods and services,
which The Huntington National Bank claims to have a valid and
perfected security interest in the cash collateral of the business
by virtue of 2 Promissory Notes, related security agreements.

The Debtor will be required to make adequate protection payments
for the use of cash collateral: (i) in the amount of $7,702.43
monthly payment on the line of credit to Huntington Bank in
accordance with the attached amortization schedule, and (ii) in the
amount of the continued lease related payments to Bosserman
Automotive Engineering, LLC which, in turn, are used by Automotive
to pay the loan and mortgage with Huntington Bank and related to
that certain real property located at 2679 S. US 23, Alvada, OH,
44802.

The Debtor is prohibited from drawing from any line of credit with
Huntington Bank, and that said line of credit account can remain
frozen by Huntington National Bank, at Huntington Bank's
discretion.

The security interest of Huntington Bank in bank balance, accounts
receivable and fees of the Debtor's estate has been extended to all
post-petition receivables and gross retail sales created by the
Debtor in the operation of the Debtor's business with the same
force and effect as said security interest attached to the Debtor's
prepetition accounts receivables.

In addition, the Debtor will prepare and serve upon counsel for
Huntington Bank not less frequently than once per month an
operating report in similar form to that required by the Office of
the U.S. Trustee's guidelines setting forth the total receipts and
disbursements.

A continued hearing on the cash collateral use will be held on Nov.
20, 2019 at 9:30 a.m.

A full-text copy of the Eleventh Order is available at:

          http://bankrupt.com/misc/ohnb17-33184-345.pdf

                      About ProFlo Industries

Headquartered in Alvada, Ohio, ProFlo Industries, LLC, is an Ohio
LLC engaged in the airline refueling business.  The principal
customers of the business are multi-national companies providing
goods, services and advice in the global aviation industry.  ProFlo
consists of one shareholder: Terry N. Bosserman who owns 100% of
the shares.

ProFlo Industries filed for Chapter 11 bankruptcy protection
(Bankr. N.D. Ohio Case No. 17-33184) on Oct. 8, 2017.  In the
petition signed by Terry N. Bosserman, president, the Debtor
estimated less than $1 million in assets and less than $500,000 in
liabilities.  The Debtor is represented by Patricia A. Kovacs,
Esq.

No official committee of unsecured creditors has been appointed in
the Debtor's case.


PURDUE PHARMA: Sept. 26 Meeting Set to Form Creditors' Panel
------------------------------------------------------------
William K. Harrington, United States Trustee, for Region 2, will
hold an organizational meeting on September 26, 2019, at 11:00 a.m.
in the bankruptcy cases of Purdue Pharma L.P., et al.

The meeting will be held at:

         Grand Hyatt New York
         109 East 42nd Street
         New York, NY 10017

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' case.

The organizational meeting is not the meeting of creditors pursuant
to Section 341 of the Bankruptcy Code.  A representative of the
Debtor, however, may attend the Organizational Meeting, and provide
background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States Trustee
appoint a committee of unsecured creditors as soon as practicable.
The Committee ordinarily consists of the persons, willing to serve,
that hold the seven largest unsecured claims against the debtor of
the kinds represented on the committee.

Section 1103 of the Bankruptcy Code provides that the Committee may
consult with the debtor, investigate the debtor and its business
operations and participate in the formulation of a plan of
reorganization.  The Committee may also perform other services as
are in the interests of the unsecured creditors whom it
represents.

                     About Purdue Pharma

Purdue Pharma L.P. and its subsidiaries --
http://www.purduepharma.com/-- develop and provide prescription
medicines and consumer products that meet the evolving needs of
healthcare professionals, patients, consumers and caregivers.

Purdue's subsidiaries include Adlon Therapeutics L.P., focused on
treatment for Attention-Deficit/Hyperactivity Disorder (ADHD) and
related disorders; Avrio Health L.P., a consumer health products
company that champions an improved quality of life for people in
the United States through the reimagining of innovative product
solutions; Imbrium Therapeutics L.P., established to further
advance the emerging portfolio and develop the pipeline in the
areas of CNS, non-opioid pain medicines, and select oncology
through internal research, strategic collaborations and
partnerships; and Greenfield Bioventures L.P., an investment
vehicle focused on value-inflection in early stages of clinical
development.

Opioid makers in the U.S. are facing pressure from a crackdown on
the addictive drug in the wake of the opioid crisis and as state
attorneys general file lawsuits against manufacturers.  More than
2,000 states, counties, municipalities and Native American
governments have sued Purdue Pharma and other pharmaceutical
companies for their role in the opioid crisis in the U.S., which
has contributed to the more than 700,000 drug overdose deaths in
the U.S. since 1999.

OxyContin, Purdue Pharma's most prominent pain medication, has been
the target of over 2,600 civil actions pending in various state and
federal courts and other fora across the United States and its
territories.

On Sept. 15 and 16, 2019, Purdue Pharma L.P. and 23 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No.
19-23649), after reaching terms of a preliminary agreement for
settling the massive opioid litigation facing the Company.

The Company's consolidated balance sheet at Aug. 31, 2019, showed
$1.972 billion in assets and $562 million in liabilities.

U.S. Bankruptcy Judge Robert Drain, in White Plains, New York, has
been assigned to oversee Purdue's Chapter 11 case.

Davis Polk & Wardwell LLP and Dechert LLP are serving as legal
counsel to Purdue. PJT Partners is serving as investment banker,
and AlixPartners is serving as financial advisor.  Prime Clerk LLC
is the claims agent.


RAYMOND WOOTEN: $620K Sale of Las Cruces Commercial Property Okayed
-------------------------------------------------------------------
Judge Robert H. Jacobvitz of the U.S. Bankruptcy Court for the
District of New Mexico authorized Raymond Calvin Wooten and Kathy
Riddle Wooten to sell their commercial rental property located at
1851 Copper Loop, Las Cruces, New Mexico to the County of Dona Ana
for $620,000, free and clear of interests.

The payment in the amount of 6% of the sale price plus tax to
Steinborn Commercial Real Estate is approved.

The net proceeds of the sale will be deposited into the Court
Registry until further order of the Court.  

Raymond Calvin Wooten and Kathy Riddle Wooten sought Chapter 11
protection (Bankr. D.N.M. Case No. 19-11152) on May 16, 2019.  The
Debtors tapped William F. Davis, Esq., Nephi D. Hardman, Esq., and
Andrea D. Steiling, Esq., at William F. Davis & Assoc., P.C. as
counsel.


ROYALE ENERGY: Matrix Grants Vanco Rights to Buy Texas Properties
-----------------------------------------------------------------
Matrix Permian Investments, LP, a wholly owned subsidiary of Royale
Energy, Inc., granted to Vanco Oil and Gas Corporation the right to
purchase all of Matrix's right, title and interest in certain
non-operated oil and gas properties in West Texas.  The purchase
price is $1,981,968, subject to adjustment by agreement between
Vanco and JVA Operating Company, the properties' operator.  The
purchase price is payable in cash upon closing.

Matrix has placed an Assignment and Bill of Sale transferring the
properties in escrow with JVA Operating Company for transfer upon
delivery of the purchase price.

The properties being sold are comprised of non-operated working
interests in 686 gross acres (473 net acres} in the Rowena Field,
Runnels County, Texas; 1200 gross acres (292 net acres) in the
Arledge Field, Nolan County, Texas and 3,040 gross acres (760 net
acres) in the Yucca Butte Field, Pecos County, Texas.

                       About Royale Energy

Royale Energy, Inc. (OTCQB: ROYL) -- http://www.royl.com/-- is an
independent exploration and production company focused on the
acquisition, development, and marketing of oil and natural gas. The
Company has its primary operations in California's Los Angeles and
Sacramento Basins.

SingerLewak LLP, in Denver, Colorado, the Company's auditor since
2014, issued a "going concern" qualification in its report dated
April 15, 2019, on the Company's consolidated financial statements
for the year ended Dec. 31, 2018, citing that the Company has
suffered recurring losses from operations, and its total
liabilities exceed its total assets.  This raises substantial doubt
about the Company's ability to continue as a going concern.

Royale Energy reported a net loss of $23.50 million in 2018 and a
net loss of $2.42 million in 2017.  As of June 30, 2019, the
Company had $22.45 million in total assets, $23.72 million in total
liabilities, and a total stockholders' deficit of $1.26 million.


SAGE & SWIFT: Court Conditionally Approves Disclosure Statement
---------------------------------------------------------------
The disclosure statement of Sage & Swift Gourmet Catering, Inc. is
conditionally approved.

The hearing on confirmation of the plan is on Tuesday, November 5,
2019 at 11:00 AM in Room 208, 300 Fayetteville Street, Raleigh, NC
27602.

October 25, 2019 is fixed as the last day for filing written
acceptances or rejections of the plan.

October 25, 2019 is fixed as the last day for filing and serving
written objections to confirmation of the plan.

The Debtor proposes to assume its contracts and leases with Wines
Limited and Herndon Restaurant Equipment.  To the extent that any
agreement was delinquent on the Petition Date, the Debtor proposes
to cure that agreement on the Effective Date.

The Debtor proposes to reject its contracts and leases with Eno
Ventures and Healthy Start.  Eno Ventures is owed $326 in
postpetition rent.  That amount will be treated as an
administrative priority claim and paid on the effective date of the
Plan.

The Debtor will make payments under the Plan by the continued
operations and profit of the business and from capital
contributions made by Amy Tornquist from an inherited IRA and by
obtaining a large loan secured by commercial property.

A full-text copy of the Disclosure Statement is available at
https://tinyurl.com/yypnatxd from PacerMonitor.com at no charge.

Sage & Swift Gourmet Catering, Inc., filed a Chapter 11 petition
(Bankr. E.D.N.C. Case No. 19-00633) on February 12, 2019, and is
represented by Travis Sasser, Esq., at Sasser Law Firm.


SALLY WILLIAMSON: Court Conditionally Approves Disclosure Statement
-------------------------------------------------------------------
The Disclosure Statement filed by Sally Williamson & Associates,
Inc., is conditionally approved.

November 4, 2019 is fixed for the hearing on final approval of the
conditionally approved Disclosure Statement and for confirmation of
the Plan. Said hearing shall be held at 2:00 p.m. in Courtroom
1202, United States Courthouse, 75 Ted Turner Drive, SW, Atlanta,
Georgia.

October 25, 2019 is fixed as the last day for filing written
acceptances or rejections of the Plan.

October 25, 2019 is fixed as the last day for filing and serving
written objections to the conditionally approved Disclosure
Statement and confirmation of the Plan.

Class 6 (General Unsecured Claims). Class 6 consists of all
non-insider general unsecured creditors of the Debtor, including
all Secured Claimants’ deficiency claims that are reclassified as
Class 6 claimants. Holders of Class 6 claims shall be paid a pro
rata share of $50,000.00. Debtor shall pay 20 semi-annual payments
of $2,628.12 beginning 6 months following the Effective Date and
continuing every 6 months until the 20th payment is made.

Class 1 (First Home Bank): Class 1 consists of the secured claim of
First Home Bank.  First Home Bank has filed a proof of claim for
$292,645.59. The Debtor shall make payments to First Home Bank
based upon an 8-year amortization schedule at annual interest rate
of 6.25% (fixed). Debtor estimates the monthly payments to be
$1,785.67 per month for 96 months.

Class 2 (Navitas) Class 2 consists of the secured claim of Navitas
Credit Corp. Navitas has filed a proof of claim for $63,900.43.
The Debtor shall make payments to Navitas based upon an 8-year
amortization schedule at annual interest rate of 6.25% (fixed).
Debtor estimates the monthly payments to be $663.17 per month for
96 months.

Class 3 (U.S. Bank Equipment Finance) Class 3 consists of the
secured claim of U.S. Bank Credit Corp.  U.S. Bank has filed a
$5,100 secured proof of claim.  The Debtor shall make payments to
U.S. Bank based upon an 8-year amortization schedule at annual
interest rate of 6.25% (fixed). Debtor estimates the monthly
payments to be $155.73 per month for 96 months.

Class 4 (New Chance Capital, LLC) Class 4 consists of the secured
claim of New Chance Capital, LLC.  Any security interest asserted
by New Chance is junior in priority to the lien of the Class 1
Secured Claimant. As a result, Debtor's collateral has no equity
for New Chance's claim to attach, and Debtor will treat New
Chance's entire claim as an unsecured claim in Class 6
($52,465.00).

Class 5 (Swift Financial, LLC) Class 5 consists of the secured
claim of Swift Financial Capital, LLC.  Any security interest
asserted by Swift Financial is junior in priority to the lien of
the Class 1 Secured Claimant. As a result, Debtor's collateral has
no equity for Swift Financial's claim to attach, and Debtor will
treat Swift Financial's entire claim as an unsecured claim in Class
6 ($32,181.24).

Class 7 (Equity Security Holders). Class 7 consists of the Equity
Holders of the Debtor. Each equity security holder will retain
its/his Interest in the reorganized Debtor as such Interest existed
as of the Petition Date. This class is not impaired and is not
eligible to vote on the Plan.

Cash flow from operations are projected to be sufficient to make
all payments under the plan.

A full-text copy of the Disclosure Statement dated September 20,
2019, is available at https://tinyurl.com/y4fq6eu6 from
PacerMonitor.com at no charge.

Attorney for Debtor:

     Will B. Geer, Esq.
     50 Hurt Plaza, SE, Suite 1150
     Atlanta, Georgia 30303
     Tel: (678) 587-8740
     Fax: (404) 287-2767

                About Sally Williamson & Associates

Sally Williamson & Associates offers executive coaching, custom
workshops or any of its signature workshops: Executive Presence,
Effective Presentations and Leading Executive Conversations.

Sally Williamson & Associates filed a Chapter 11 bankruptcy
petition (Bankr. N.D. Ga. Case No. 19-54623) on March 25, 2019.  In
the petition signed by Mark Williamson, CFO, the Debtor estimated
$0 to $50,000 in assets and $1 million to $10 million in
liabilities.  The case is assigned to Judge Paul Baisier.  The
Debtor is represented by Will B. Geer, Esq., at Wiggam & Geer, LLC.


SAM KANE BEEF: Oct. 11 Disclosure Statement, Plan Hearing
---------------------------------------------------------
Sam Kane Beef Processors, LLC, filed a Chapter 11 Plan and related
Disclosure Statement.

Class 6 - General Unsecured Claims. Class 6 is comprised of all
Allowed General Unsecured Claims against the Debtor. Class 6 shall
be paid pro rata from proceeds of the Liquidating Trust Assets in
accordance with the priority set forth in Article 8 herein.

Class 1 - PSA Claims. Class 1 consists of Allowed PSA Trust Claims.
On the Effective Date, subject to the terms of the 543 Settlement
Agreement, the holders of Allowed PSA Trust Claims shall be paid
the Collected Receivables. The Collected Receivables and the full
amount of the Feeder Settlement Payment shall be distributed to
Allowed PSA Trust Claims as set forth in the 543 Settlement
Agreement.

Class 2 - Rabo Secured Claim. Class 2 is comprised of the Rabo
Secured Claim. Pursuant to the JDH Transaction, Rabo has received
the Rabo Debt Rollover. Any remaining Secured Claim or deficiency
claim asserted by Rabo shall be Allowed solely after final
adjudication of the 506(c) Motion and shall be payable solely from
remaining proceeds of the JDH Transaction. Class 2 is impaired,
but, pursuant to the Rabo Settlement, is entitled to vote on the
Plan.

Class 3 - Marquette Secured Claim. Class 3 is comprised of the
Marquette Secured Claim. Subject to the terms of the 543 Settlement
Agreement, Marquette shall be paid the Marquette Funds on the
Effective Date.

Class 4 - 543 Claims. Class 4 is comprised of Allowed 543 Claims.
After the establishment the Liquidating Trust Reserve, Allowed 543
Claims shall be paid by the Liquidating Trustee pro rata from
Available Cash.

Class 5 - Non-Tax Priority Claims. Class 5 is comprised of all
Allowed Non-Tax Priority Claims. Class 5 shall be paid pro rata
from proceeds of the Liquidating Trust Assets in accordance with
the priority set forth in Article 8 herein.

Class 7 - Subordinated Claims of Non-Insiders. Class 7 is comprised
of claims by non-insiders of the Debtors. Class 6 shall be paid pro
rata from proceeds of the Liquidating Trust Assets in accordance
with the priority set forth in Article 8 herein. Class 6 is
impaired and is entitled to vote on the Plan.

Class 8 - Insider Subordinated Claims. Class 8 is comprised of
claims by insiders of the Debtors.  Each holder of a Class 8 Claim
shall neither receive nor retain any property or interest in
property on account of such Claim and such holder shall have no
Claim against the Debtor, the Liquidating Trust or otherwise on
account of such Claim.

Class 9 - Equity Interests. Class 9 is comprised of all Allowed
Equity Interests in the Debtor. The Debtor's Interests will be
cancelled on the Effective Date of the Plan.

As a result of the 543 Settlement, the Debtor will hold
approximately $2.8 million in Cash on the Effective Date.

The Bankruptcy Court has scheduled the Confirmation Hearing,
together with the hearing to approve the Disclosure Statement, to
commence on October 11, 2019 at 2:30 p.m. prevailing Central Time,
in the United States Bankruptcy Court, 515 Rusk, Courtroom 400,
Houston, Texas.

Deadline by which objections to the Disclosure Statement and to
Confirmation of the Plan must be filed and served: October 9, 2019
at 12:00 p.m., prevailing Central Time.

A full-text copy of the Disclosure Statement dated September 20,
2019, is available at https://tinyurl.com/y6afyloo from
PacerMonitor.com at no charge.

Counsel for the Debtor:

     Matthew S. Okin, Esq.
     David L. Curry, Jr., Esq.
     Okin & Adams LLP
     1113 Vine Street, Suite 201
     Houston, Texas 77002
     Tel: (713) 228-4100
     Fax: (888) 865-2118

              About Sam Kane Beef Processors

Sam Kane Beef Processors, LLC, is an independent, fully-automated
processor and distributor of beef and beef products based in Corpus
Christi, Texas.  Since its beginnings in 1949, Kane Beef has
expanded from a local meat counter to a nationally recognized
supplier of dependable beef products with key accounts in retail
and foodservice.

The Debtor was involved in litigation with the United States and
various livestock sellers for alleged violations of, and claims
made pursuant to, the Packers and Stockyards Act of 1921, as
amended and supplemented.

On Oct. 5, 2018, the United States District Court for the Southern
District of Texas appointed Richard S. Schmidt as receiver.

Sam Kane, in a petition signed by receiver Richard S. Schmidt,
filed for Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Case
No. 1920020) on Jan. 22, 2019.  The Debtor estimated assets and
liabilities of $50 million to $100 million.  The Hon. David Jones
oversees the case.  The Debtor tapped Matthew Scott Okin, Esq., at
Okin & Adams LLP, as its legal counsel.

No official committee of unsecured creditors has been appointed in
the Chapter 11 case.


SEDONA DEV'T: Appeals Court Upholds Order Against Seven Canyons
---------------------------------------------------------------
In the appeals case captioned SEVEN CANYONS RECAP LLC,
Plaintiff/Appellant, v. VILLA RENAISSANCE LLC, et al.,
Defendants/Appellees, No. 1 CA-CV 18-0382 (Ariz. App.), the Arizona
Court of Appeals affirmed the superior court's order requiring a
receiver to pay accrued and accruing homeowners' association
assessments before making payments on Seven Canyons Recap, LLC's
(Recap) loan. The Court also affirmed the superior court's denial
of Recap's attorneys' fees and costs.

Recap argues that the superior court erred by finding that the
Receiver was required to pay The Villas at Seven Canyons Owners'
Association, Inc. (VOA) for accrued and accruing assessments. The
Court reviews legal conclusions de novo but defers to the superior
court's factual findings unless clearly erroneous.

Here, the Plan unambiguously stated that accrued association dues
must be paid before payments could be made on Recap's loan. Recap
agreed to the Plan's distribution of sales proceeds because it
signed the confirmation order, thereby creating a contract
concerning the distribution of sales proceeds. Thus, the superior
court correctly found that the payment of accrued assessments was
"baked into" the Plan. Accordingly, the court did not err by
ordering the Receiver to pay the VOA accruing association fees as
well as $624,635, plus interest, for pre-receivership dues.

Recap argues that the court's ruling effectively "rewrote the Plan"
by making Recap rather than VR responsible for the accrued and
accruing assessments. The Court disagrees. The court did not order
Recap to pay the assessments; it ordered the Receiver to pay the
assessments. The court did not rule Recap personally liable for the
assessments or require it to pay them from its funds.

Recap claims that it did not know that the Receiver's paying of
accrued assessments was an issue before the superior court until
the court ruled and that its lack of notice constitutes exceptional
circumstances. But the record shows otherwise. From the outset, the
VOA argued that it wanted the Receiver to pay for assessments
during the receivership. The VOA also argued that it should receive
equitable restitution for the unpaid assessments before the
Receiver's appointment. While the VOA did not initially argue that
it should receive payments under the Plan, the court raised that
issue to both parties during trial after receiving evidence
regarding the Plan. The court then explicitly instructed both
parties to discuss in post-trial filings whether the Plan required
the Receiver to pay accrued assessments to the VOA. Both parties
complied and also responded to the opposing parties' filings. Thus,
Recap had notice and opportunity to raise this issue before the
court in its filings, or at the very least in a timely motion for
reconsideration. Recap did neither. Therefore, exceptional
circumstances are not present and we will not consider this issue.

Recap also argues that the superior court erred by declining to
award it attorneys' fees and costs.

Here, the record supports the court's finding that both parties
were "successful in part and unsuccessful in part." Thus, the court
did not abuse its discretion by declining to award either party its
attorneys' fees. Although the court noted that Recap was successful
in defending some of the VOA's claims, it also noted that the VOA
received a net judgment in excess of $1 million. As such, the court
did not abuse its discretion by finding that the VOA was the
successful party and entitled to its taxable costs under A.R.S.
section 12-341.

Recap argues that because the amount awarded in the judgment was
far less than the amount that was denied, it should have been
viewed as the successful party. This argument is not persuasive.
The judgment awarded the VOA over $1 million, which was a
substantial amount. Thus, the court did not abuse its discretion by
declaring the VOA as the successful party.

A copy of the Court's Memorandum Decision dated April 16, 2019 is
available at https://bit.ly/2kUxu7D from Leagle.com.

Tiffany & Bosco PA, Phoenix, By Kevin P. Nelson, Christopher R.
Kaup, Michael A. Wrapp, Counsel for
Plaintiff/Appellant/Counter-Defendant.

Dickinson Wright PLLC, Phoenix, By Robert A. Shull, Michael R.
Scheurich, Counsel for Defendant/Appellee/Counter-Claimant Villa
Renaissance LLC.

Snell & Wilmer, Phoenix, By Donald L. Gaffney, Benjamin W. Reeves,
Emily Gildar Wagner, Counsel for
Defendant/Appellee/Counter-Claimant The Villas at Seven Canyons
Owners.

Quarles & Brady LLP, Phoenix, By William Scott Jenkins, Jr. ,
Hannah R. Torres , Counsel for Defendant/Appellee John Mitchell.

           About Sedona Development Partners

Sedona Development Partners owns an 18-hole golf course and related
properties, including luxury villas, a practice park, range house,
tennis courts and related facilities in Sedona, Arizona, known
generally as Seven Canyons.  The Club at Seven Canyons, LLC,
operates the golf course and related facilities for SDP.  SDP is
the manager and sole member of the Club.

Sedona Development Partners filed for Chapter 11 bankruptcy
protection (Bankr. D. Ariz. Case No. 10-16711) on May 27, 2010.
The Club at Seven Canyons filed a separate Chapter 11 petition
(Bankr. D. Ariz. Case No. 10-16714).  John J. Hebert, Esq., Philip
R. Rudd, Esq., and Wesley D. Ray, Es., at Polsinelli Shughart PC,
in Phoenix, Ariz., assist the Debtors in their restructuring
efforts.  Lender Specialty Trust is represented by Joseph E.
Cotterman, Esq., and Nathan W. Blackburn, Esq., at Gallagher &
Kennedy, P.A.  Sedona disclosed $29,171,168 in assets and
$121,679,994 in liabilities.

Sedona Development Partners, LLC, and The Club at Seven Canyons,
LLC, filed with the U.S. Bankruptcy Court for the District of
Arizona on June 17, 2011, a second amended joint disclosure
statement in support of their second amended joint pan of
reorganization.  The Debtors' disclosure statement was approved on
June 28, 2011.


SELECTA BIOSCIENCES: Timothy Springer Has 16.1% Stake as of Sept. 3
-------------------------------------------------------------------
In a Schedule 13D/A filed with the Securities and Exchange
Commission, these entities and individuals reported beneficial
ownership of shares of common stock of Selecta Biosciences, Inc. as
of Sept. 3, 2019:

                                      Shares      Percent
                                   Beneficially     of
  Reporting Person                     Owned       Class
  ----------------                 ------------  ---------
Timothy A. Springer                 7,784,131      16.1%
TAS Partners LLC                    1,545,576       3.2%
Chafen Lu                              86,418       0.2%

The Reporting Persons, in the aggregate, beneficially own 7,784,131
Shares, representing approximately 16.1% of such class of
securities.  The percentage of beneficial ownership reported is
based on a total of 48,141,125 Shares issued and outstanding as of
Aug. 20, 2019, which includes 44,962,951 Shares issued and
outstanding on Aug. 2, 2019, as reported on the Issuer's Quarterly
Report on Form 10-Q, dated Aug. 8, 2019, as well as an additional
3,178,174 Shares issued to certain investors, including Dr.
Springer and TAS, on Aug. 20, 2019 pursuant to the Stock Purchase
Agreement.

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

                       https://is.gd/LZjtqX

                     About Selecta Biosciences

Based in Watertown, Massachusetts, Selecta Biosciences, Inc. --
http://www.selectabio.com/-- is a clinical-stage biotechnology
company focused on unlocking the full potential of biologic
therapies based on its immune tolerance technology (ImmTOR)
platform.  Selecta plans to combine ImmTOR with a range of biologic
therapies for rare and serious diseases that require new treatment
options due to high immunogenicity.  The Company's current
proprietary pipeline includes ImmTOR-powered therapeutic enzyme and
gene therapy product candidates.  SEL-212, the Company's lead
product candidate, is being developed to treat chronic refractory
gout patients and resolve their debilitating symptoms, including
flares and gouty arthritis.  Selecta's proprietary gene therapy
product candidates are in preclinical development for certain rare
inborn errors of metabolism and incorporate ImmTOR with the goal of
addressing barriers to repeat administration.

Selecta Biosciences reported net losses of $65.33 million in 2018,
$65.32 million in 2017, and $36.21 million in 2016.  As of June 30,
2019, the Company had $46.94 million in total assets, $46.89
million in total liabilities, and $56,000 in total stockholders'
equity.

Ernst & Young LLP, in Boston, Massachusetts, the Company's auditor
since 2009, issued a "going concern" opinion in its report dated
March 15, 2019, on the Company's consolidated financial statements
for the year ended Dec. 31, 2018, citing that the Company has
recurring losses from operations and insufficient cash resources
and has stated that substantial doubt exists about the Company's
ability to continue as a going concern.


SHAPE TECHNOLOGIES: Moody's Cuts CFR to B3, Outlook Stable
----------------------------------------------------------
Moody's Investors Service downgraded the ratings for Shape
Technologies Group, Inc.'s, including the company's Corporate
Family Rating to B3 from B2 and Probability of Default Rating to
B3-PD from B2-PD, as well as the ratings on the company's existing
$15 million first lien senior secured revolving credit facility and
$350 million first lien senior secured term loan due 2025 to B3
from B2. The outlook changed to stable from negative.

"As the company encounters challenges managing its cost structure
in the face of increased tariffs as well as pressure in its
aftermarket segment, leverage continues to worsen and liquidity is
constrained," said Inna Bodeck, the lead analyst with Moody's. "
However, Shape's lack of near-term maturities and adequate
liquidity give it some time to manage through the softness across
its end markets," she added.

In June 2019, American Industrial Partners (Shape's then sole
owner) sold a partial ownership stake to DCP Capital and took out
debt-financed $50 million dividend. That transaction increased
Shape's debt-to-EBITDA to 6.3x (incorporating Moody's standard
adjustments) from approximately 5.5x for the twelve months ending
3/31/2019. Due to a continued deterioration in performance in the
second quarter, Shape's leverage is now approximately 7.1x (as of
LTM 6/30/2019). In the second quarter Shape experienced weakness in
its aftermarket segment in Europe as well as the U.S. while the
first quarter's declines were mainly attributable to the challenges
in the automotive space. Liquidity is supported by availability
under the $60 million asset based revolving facility expiring April
2023 and $15 million revolving facility expiring April, 2023.

Moody's took the following rating actions on Shape Technologies
Group, Inc.:

Downgrades:

Issuer: Shape Technologies Group, Inc.

  Corporate Family Rating, Downgraded to B3 from
  B2

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

  Senior Secured First Lien Term Loan, Downgraded to
  B3 (LGD4) from B2 (LGD4)

  Senior Secured First Lien Revolving Credit Facility,
  Downgraded to B3 (LGD4) from B2 (LGD4)

Outlook Actions:

Issuer: Shape Technologies Group, Inc.

  Outlook, changed to Stable from Negative

RATINGS RATIONALE

Shape Technologies Group, Inc.'s B3 Corporate Family Rating
reflects its leading position within the niche waterjet cutting
market and significant aftermarket business which represents about
58% of its revenues and provides some degree of revenue stability.
These considerations are tempered by Shape's modest size and its
exposure to certain key end markets which exhibit a high degree of
cyclicality. Debt-to-EBITDA of 7.1x (LTM 6/30/2019 incorporating
Moody's standard adjustments) has increased and is significantly
higher than anticipated at the time of debt-financed dividend in
May 2019. Moody's forecasts that the company will have breakeven
free cash flow in the next 12 months aided by normalized capital
spending and less restructuring costs. Shape has had free cash flow
deficits for two consecutive years -- in 2018 primarily due to the
capital expenditures and expense related to the relocation of the
main manufacturing facility and in 2017 due to the working capital
investment associated with robust top line growth. While Moody's
expects the recent restructuring initiatives will benefit EBITDA in
the next 12 months, so far the company has been unable to manage
through the varying demand in its end markets across the globe.

The stable rating outlook is based on Moody's expectation that
Shape will benefit from recently implemented restructuring
activities and will generate modestly positive free cash flow in
the next twelve months. These factors create the ability to reduce
debt-to-EBITDA leverage toward 6.5x over the next eighteen months.

Ratings could be upgraded if the company increases its size and
scale as measured by revenue while sustaining debt-to-EBITDA below
5.0x and free cash flow to debt approach 5%.

The ratings would likely come under pressure if there is any
erosion in debt-to-EBITDA from the current levels or if
EBITA-to-Interest coverage were to weaken to below 1.25x. Continued
deterioration in liquidity position will also create downward
rating pressure.

The principal methodology used in these ratings was Global
Manufacturing Companies published in June 2017.

Headquartered in Kent, WA, Shape is a manufacturer of ultra high
pressure technology and advanced materials processing systems.
Shape's products include a cutting head, UHP pump, motion system,
and control software that are either sold individually, combined
together to form a system, or integrated with robotic cutting cells
and other automated material handling solutions to create a broad
application-based system. After the transaction closing, Shape is
majority owned by funds affiliated with American Industrial
Partners (AIP) with 49.9% ownership by DCP Capital. Sales for the
twelve months ended June 30, 2019 were approximately $438 million.


SHOPPINGTOWN MALL NY: U.S. Trustee Unable to Appoint Committee
--------------------------------------------------------------
The Office of the U.S. Trustee on Sept. 19 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of Shoppingtown Mall NY LLC.

                    About Shoppingtown Mall NY

Shoppingtown Mall NY LLC classifies its business as single asset
real estate (as defined in 11 U.S.C. Section 101(51B)).

Shoppingtown Mall NY sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Pa. Case No. 19-23178) on Aug. 13,
2019.  At the time of the filing, the Debtor was estimated to have
assets of between $1 million and $10 million, and liabilities of
between $10 million and $50 million.  The case is assigned to Judge
Carlota M. Bohm.  Bernstein-Burkley, P.C., is the Debtor's counsel.


SIENNA BIOPHARMACEUTICALS: Sept. 27 Mtg. Set to Form Creditor Panel
-------------------------------------------------------------------
Andy Vara, Acting United States Trustee, for Region 3, will hold an
organizational meeting on September 27, 2019, at 10:30 a.m. in the
bankruptcy cases of Sienna Biopharmaceuticals.

The meeting will be held at:

         The Doubletree Hotel
         700 King Street
         Wilmington, DE 19801

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' case.

The organizational meeting is not the meeting of creditors pursuant
to Section 341 of the Bankruptcy Code.  A representative of the
Debtor, however, may attend the Organizational Meeting, and provide
background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States Trustee
appoint a committee of unsecured creditors as soon as practicable.
The Committee ordinarily consists of the persons, willing to serve,
that hold the seven largest unsecured claims against the debtor of
the kinds represented on the committee.

Section 1103 of the Bankruptcy Code provides that the Committee may
consult with the debtor, investigate the debtor and its business
operations and participate in the formulation of a plan of
reorganization.  The Committee may also perform other services as
are in the interests of the unsecured creditors whom it
represents.

                   About Sienna Biopharmaceuticals

Sienna Biopharmaceuticals, Inc. -- http://www.SiennaBio.com/-- is
a clinical-stage biopharmaceutical company focused on bringing
unconventional scientific innovations to patients whose lives
remain burdened by their disease.  It hopes to build a unique,
diversified, multi-asset portfolio of therapies in immunology and
inflammation that target select pathways in specific tissues, with
its initial focus on one of the most important 'immune' tissues,
the skin.

The Debtor disclosed $107,625,000 in assets and $80,642,000 in
liabilities as of June 30, 2019.

Sienna Biopharmaceuticals sought Chapter 11 protection (Bankr. D.
Del. Case No. 19-12051) on Sept. 16, 2019.

The Hon. Mary F. Walrath is the case judge.

The Debtor tapped Young Conaway Stargatt & Taylor LLP as counsel;
Latham & Watkins LLP as co-counsel; Cowen and Company LLC as
investment banker; and Force 10 Partners as financial advisor.
Epiq Corporate Restructuring LLC is the claims agent.


SKY-SKAN INC: Nov. 25 Plan Confirmation Hearing
-----------------------------------------------
A hearing of confirmation of Sky-Skan Incorporated's Amended Plan
of Reorganization will be held on November 25, 2019 at 9:30 a.m.
Objections are due on or before November 4, 2019 at 4:00 p.m.

Class 5: General Unsecured Claims Class. The Debtor will distribute
to holders of Allowed Claims in this Class 85% percent of the
outstanding and issued unrestricted stock of the Reorganized
Debtor, the remaining 15% of equity in the Reorganized Debtor will
be distributed to the Debtor's employees through the employee Stock
Incentive Plan.  The Shares will be distributed on the later of 30
days from the Effective Date or 30 days from the date such Claims
are allowed by the Court, on a pro rata basis. The Debtor may make
a subsequent distribution of Shares once all claims in this Class
are either allowed or not allowed.

Class 6: Subordinated General Unsecured Claims Class. This Class
consists of and includes the claims held or asserted by Coastal if,
and to the extent that, the Bankruptcy Court determines all or some
of the Coastal Claims should be subordinated to the claims of other
Unsecured, Non-Priority Creditors.

No dividends shall be paid on account of any Allowed Claim in this
Class unless and until all dividends and other sums due Allowed
Creditors in each other Class have been paid in full.

Class 1: IRS Secured Claims Class. This Class includes all claims
held or asserted against the Debtor by the IRS to the extent
allowed as Secured Claims, including without limitation, the claims
asserted in proof of claim #2 filed on January 3, 2018 in the
amount of $763,122 ($761,948 as secured, $1,173.98 as priority).
All Allowed Claims in this Class shall be paid by the Debtor in
accordance with the provisions of this Plan. Debtor will pay the
Allowed Secured Claim of the IRS with interest at the statutory
rate (presently 4%), in installments that will conclude no later
than five years from November 1, 2017 in accordance with Exhibit
D.

Class 2: Contingent Coastal Capital, LLC Secured Claims Class. This
contingent Class includes all the disputed, contingent and
unliquidated claims held or asserted against the Debtor by Coastal
to the extent allowed as Secured Claims, including without
limitation, proof of claim #21 in the amount of $932,152.33 filed
by Coastal, less any awards, offsets, recoupments and credits due
the Debtor.  Any Coastal Allowed Secured Claim shall be paid in
full, with interest at the Prime Rate (4.5%), plus 1% over six (6)
years in consecutive monthly installments.

Class 3: Administrative Expense Claims Class. The Debtor
anticipates these claims will be approximately $226,000. Unless
paid sooner by the Debtor (which has absolute discretion in
accelerating payments in this Class), all Allowed Claims in this
Class shall be paid in full with interest at the rate of four (4%)
percent per annum, in forty-eight (48), consecutive, equal, monthly
installments of principal and interest, beginning on the 30th day
following the Effective Date subject to reduction for the
application of the following payments.

Class 4: Priority Tax Claims Class. The Claim in this Class are
allowed and shall be paid in full, plus interest at statutory rate
(presently 7% per annum) from November 1, 2017, via equal
installments, beginning on the 30th day from the Effective Date,
then quarterly thereafter (i.e., on January 1, April 1, July 1, and
October 1), and concluding on or before November 1, 2022.

Class 7: Equity Interest Holders Claims Class. This Class includes
Steven Savage and all persons claiming by, through or under him.
All existing shares in the Debtor will be cancelled and eighty-five
(85%) percent of the shares in the Reorganized Debtor will be
issued to holder of Allowed Claims in Class five (5) and fifteen
(15%) percent of the shares in the Reorganized Debtor will be
issued to employees under an employee Stock Incentive Plan.

Class 8: Department of Labor Claims Class. This Claim consists of
proofs of claim filed by the U.S. Department of Labor in the amount
of $152,416.55.  The Debtor will pay the full amount of the Allowed
DOL Claim of $152,416.55.  The Debtor will make distributions on a
pro rata basis to the Debtor's 401(k) plan custodian.

Dividends shall be paid only to those creditors that were the
record holders of Allowed Claims on the last business day of the
month preceding the due date of the payment.

A full-text copy of the Disclosure Statement dated September 20,
2019, is available at https://tinyurl.com/y6yqccby from
PacerMonitor.com at no charge.

Debtor's counsel:

     Peter N. Tamposi, Esq.
     Tamposi Law Group, P.C.
     159 Main St.
     Nashua, NH 03060
     PH: (603) 204-5513
     Email: peter@tlgnh.com

                    About Sky-Skan Inc.

Sky-Skan, Inc., was founded in 1967 as a company dedicated solely
to the development and manufacture of specialized devices for
depicting dynamic visualizations of astronomical and meteorological
phenomena on planetarium domes in museums, schools, and
universities. The company has since grown to become a provider of
digital full dome science visualization, theater control, and show
programming systems for hundreds of planetariums on six continents,
serving hundreds of clients in the niche field of immersive science
interpretation and education.  From the initial planning stage to
staff training and ongoing support, Sky-Skan provides all services
required by the most advanced digital full-dome planetariums and
visualization theaters.

Sky-Skan, based in Nashua, NH, filed a Chapter 11 petition (Bankr.
D.N.H. Case No. 17-11540) on Nov. 1, 2017.  In the petition signed
by Steven T. Savage, president, the Debtor estimated $0 to $50,000
in assets and $1 million to $10 million in liabilities.   

Peter N. Tamposi, Esq., at The Tamposi Law Group, P.C., serves as
bankruptcy counsel to the Debtor, and SquareTail Advisors, LLC, is
the financial advisor.

The Office of the U.S. Trustee appointed an official committee of
unsecured creditors on Dec. 1, 2017.  The Committee retained
William S. Gannon PLLC as its bankruptcy counsel.


SOTHEBY'S: S&P Rates Proposed $550MM Senior Secured Notes 'B+'
--------------------------------------------------------------
S&P Global Ratings assigned its 'B+' issue-level rating and '3'
recovery rating to Sotheby's proposed $550 million senior secured
notes. The '3' recovery rating indicates S&P's expectation for
meaningful (50%-70%; rounded estimate: 55%) recovery in the event
of a payment default. Proceeds from the issuance (along with
proceeds from the issuance of a $550 million rated senior secured
term loan b) will be utilized for the acquisition of Sotheby's by
BidFair USA (an entity wholly owned by Patrick Drahi).

The notes will rank equally with Sotheby's other proposed senior
secured obligations, including its $400 million revolving credit
facility (RCF) and $550 million term loan b. S&P assigned its 'B+'
issue-level rating to these facilities on Sept. 17, 2019 and
lowered the issuer credit rating on Sotheby's to 'B+' from 'BB-'.
The 'B+' issuer credit rating reflects S&P's expectation that S&P
Global Ratings' adjusted leverage will be elevated following the
acquisition, but will decline quickly as new management eliminates
costs, leading to good free operating cash flow generation and
leverage in the low 5x in fiscal 2020.

The stable outlook on Sotheby's reflects S&P's expectation that the
company's auction revenue will increase by the low-single-digit
percent area while management successfully reduces costs and
realizes efficiencies, which will lead to modest annual EBITDA
growth.

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors

-- S&P's hypothetical default scenario contemplates a significant
decline in the worldwide art auction market, potentially due to a
prolonged global economic downturn, which results in a precipitous
and sustained drop in Sotheby's revenue and margins.

-- If Sotheby's were to default, S&P believes there would continue
to be a viable business model driven largely by the strength of the
Sotheby's brand name and that lenders would achieve the greatest
recovery of principal through reorganization of the company rather
than liquidation. Therefore, S&P assumes the company emerges from a
bankruptcy event and value the company on a going-concern basis
using a 6x multiple applied to its projected emergence-level
EBITDA. S&P now values Sotheby's on an enterprise value basis given
the real estate business has been separated from the rated
Sotheby's entity.

Simulated default assumptions

-- Simulated year of default: 2023
-- EBITDA at emergence: $145 million
-- Implied enterprise value (EV) multiple: 6x
-- Estimated gross EV at emergence: About $870 million

Simplified waterfall

-- Net EV after 5% administrative costs: $826 million
-- Valuation split (obligors/nonobligors/unpledged): 100%/0%/0%
-- RCF claims (assumes 85% draw at default): $353 million*
-- Senior secured term loan b claims: $552 million*
-- Senior secured notes claims: $570 million*
-- Senior secured recovery expectations: 50%-70% (rounded
estimate: 55%)

*All debt amounts include six months of prepetition interest.


SS BODY ARMOR: 3rd Cir. Upholds Denial of CLM Emergency Stay Bid
----------------------------------------------------------------
In the case captioned In re: S.S. BODY ARMOR I., INC., f/k/a Point
Blank Solutions Inc. f/k/a DHB Industries, Inc., et al., Debtors v.
CARTER LEDYARD & MILBURN LLP, Appellant, No. 18-2558 (3rd Cir.),
the United States Court of Appeals, Third Circuit affirmed the
District Court's order denying CLM's Emergency Stay Motion.

This procedurally-complex case stems from financial crimes at a
public company, which led to a peculiar confluence of events:
criminal convictions of the company's top executive, the
executive's unforeseen death while in custody, several class action
and derivative lawsuits, a number of proposed settlement
agreements, ongoing bankruptcy proceedings, and numerous disputes
spanning across three levels of the federal judiciary in three
separate jurisdictions. At this point, however, we are faced with a
single appeal that raises two specific issues--a jurisdictional
issue and a merits issue.

In the Bankruptcy Court, CLM moved for a stay of any distributions
from the Second Settlement Agreement pending its Fee Reserve
Appeal. The Bankruptcy Court denied the motion. CLM subsequently
appealed--in a new appeal, not the pending Fee Reserve Appeal--the
Bankruptcy Court's stay denial order to the District Court. In its
Stay Denial Appeal, CLM filed an emergency motion requesting the
District Court to stay distributions from the Second Settlement
Agreement pending resolution of the Fee Reserve Appeal, in which it
was now requesting a $15 million fee reserve. Debtor and the
Recovery Trustee opposed the motion, which the District Court
eventually denied. From that denial, CLM now appeals.

The Federal Rules of Bankruptcy Procedure allow a party to move to
stay the effect of a bankruptcy court order pending a resolution on
appeal. In ruling on such motions, courts assess four factors,
similar to those considered in ruling on applications for
preliminary injunctions: (1) whether the stay applicant has made a
strong showing that [it] is likely to succeed on the merits; (2)
whether the applicant will be irreparably injured absent a stay;
(3) whether issuance of the stay will substantially injure the
other parties interested in the proceeding; and (4) where the
public interest lies.

Here, CLM falters at the very first stay factor. Reviewing the
factor de novo, the Court determines that CLM has a fatally low
likelihood of succeeding in its Fee Reserve Appeal. This compels
the Court to affirm the District Court's underlying order, even
without considering any of the remaining stay factors.

Deciding this first stay factor against CLM is, on its own, fatal
to the instant appeal.  Accordingly, the Court need not--and does
not--assess any of the remaining factors. In sum, the District
Court correctly denied CLM's Emergency Stay Motion.

A copy of the Court's Opinion dated April 16, 2019 is available at
https://bit.ly/2m4mMLR from Leagle.com.

Laura D. Jones, James E., O'Neill Pachulski Stang Ziehl & Jones,
919 North Market Street P.O. Box 8705, 17th Floor, Wilmington, DE
19801, Alan J. Kornfeld [ARGUED], Pachulski Stang Ziehl & Jones,
10100 Santa Monica Boulevard, 13th Floor, Los Angeles, CA 90067,
Counsel for Debtor-Appellee SS Body Armor I, Inc.

Michael Busenkell , Gellert Scali Busenkell & Brown, 1201 North
Orange Street, Suite 300, Wilmington, DE 19801, Gary D. Sesser
[ARGUED], Carter Ledyard & Milburn, 2 Wall Street, New York, NY
10005, Counsel for Plaintiff-Appellant Carter Ledyard & Milburn.

Scott J. Leonhardt , The Rosner Law Group, 824 North Market Street,
Suite 810, Wilmington, DE 19801, James H. Hulme , Arent Fox, 1717 K
Street, N.W., Washington, DC 20036, Frederick B. Rosner , Messana
Rosner & Stern, 1000 North West Street, Suite 810, Wilmington, DE
19801, Counsel for Defendant-Appellee Recovery Trustee.

                     About Point Blank

Headquartered in Pompano Beach, Florida, Point Blank Solutions,
Inc. -- http://www.pointblanksolutionsinc.com/-- designs and
produces body armor systems for the U.S. Military, Government and
law enforcement agencies, as well as select international markets.

The Company maintains facilities in Pompano Beach, Florida, and
Jacksboro, Tennessee.

The Company's former chief executive officer and chief operating
officer were convicted in September 2010 of orchestrating a $185
million fraud.

Point Blank Solutions, formerly DHB Industries, filed for Chapter
11 protection (Bankr. D. Del. Case No. 10-11255) on April 14,
2010.

Laura Davis Jones, Esq., Alan J. Kornfeld, Esq., David M.
Bertenthal, Esq., and Timothy P. Cairns, Esq., at Pachulski Stang
Ziehl & Jones LLP, serve as bankruptcy counsel to the Debtor.
Olshan Grundman Frome Rosenweig & Wolosky LLP serves as corporate
counsel.  Epiq Bankruptcy Solutions serves as claims and notice
agent.

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors and a separate Official Committee of Equity Security
Holders in the case.  Ian Connor Bifferato, Esq., and Thomas F.
Driscoll III, Esq., at Bifferato LLC; and Carmen H. Lonstein, Esq.,
Andrew P.R. McDermott, Esq., and Lawrence P. Vonckx, Esq., at Baker
& McKenzie LLP, serve as counsel for the Official Committee of
Equity Security Holders.  Robert M. Hirsh, Esq., and George P.
Angelich, Esq., at Arent Fox LLP, serve as counsel to the Creditors
Committee, and Frederick B. Rosner, Esq., and Brian L. Arban, Esq.,
at the Rosner Law Group LLC, serve as co-counsel.

In October 2011, the Debtors sold substantially all assets to Point
Blank Enterprises, Inc.  The lead debtor changed its name to SS
Body Armor I, Inc., following the sale.


TAMARA HOME CARE: U.S. Trustee Says PCO Not Necessary
-----------------------------------------------------
On August 14, 2019, the Court ordered the United States Trustee to
appoint an ombudsman in the bankruptcy case of Tamara Home Care
Inc., "unless the U.S. Trustee and/or the debtor in possession
inform the court in writing, within twenty-one (21) days, why the
appointment of an ombudsman is not necessary for the protection of
the patients."

The Debtor states that it operates a home specializing in care for
the elderly, and is regulated by the Puerto Rico Department of
Family. The United States Trustee believes a patient care ombudsman
is not necessary at this time. Should the United States Trustee
become aware of any fact or circumstance that may warrant the
appointment of an ombudsman, she will so inform the Court. On
September 22, 2019, Debtor filed its position regarding the
necessity of an ombudsman.

Accordingly, the United States Trustee asks requests that the Court
take notice of the above and order that an ombudsman not be
appointed in this case.

             About Tamara Home Care Inc.

Founded in 2010, Tamara Home Care Inc. is a privately-held company
that provides home health care services.  It is a small business
debtor as defined in 11 U.S.C. section 101(51D).

Tamara Home filed under Chapter 11 of the Bankruptcy Code (Bankr.
D.P.R. Case No. 19-04539) on August 9, 2019, listing under $1
million in both assets and liabilities.

Judge Brian K. Tester presides over the case.  Jesus Enrique
Batista Sanchez, Esq. at The Batista Law Group, P.S.C., is the
Debtor's legal counsel.


TENDER LOVING HOME: U.S. Trustee Unable to Appoint Committee
------------------------------------------------------------
The Office of the U.S. Trustee on Sept. 19 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of Tender Loving Home Health Care,
Inc.

               About Tender Loving Home Health Care

Tender Loving Home Health Care, Inc. operates a home health care
business in which the majority of the revenue comes from operating
group homes for individuals who need assisted living.

Tender Loving Home Health Care filed its voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Pa.
Case No. 19-22486) on June 21, 2019. It previously sought
bankruptcy protection on Oct. 14, 2015 (Bankr. W.D. Pa. Case No.
15-23759).

In the petition signed by Reid A. Bromwell, chairman of the Board
of Directors, the Debtor estimated $100,000 to $500,000 in assets
and $1 million to $10 million in liabilities.  

The case is assigned to Judge Gregory L. Taddonio.  Donald R.
Calaiaro, Esq., at Calaiaro Valencik is the Debtor's counsel.


THRUSH AIRCRAFT: GE Aviation Appointed as New Committee Member
--------------------------------------------------------------
The Office of the U.S. Trustee on Sept. 19 appointed GE Aviation
Czech, s.r.o. as new member of the official committee of unsecured
creditors in the Chapter 11 case of Thrush Aircraft, Inc.

Meanwhile, Grant Thornton, LLP resigned as committee member.

As of Sept. 19, the members of the committee are:

     (1) Texas Transland, LLC
         dba Transland
         1206 Hatton Road, Suite A
         Wichita Falls, TX 76302
         (940) 636-7963
         James B. Frank
         jfrank@sharpirongroup.com

     (2) Oxford Global Resources, LLC
         100 Cummings Center, Suite 206L
         Beverly, MA 01915
         (978) 538-1723
         Cheryl Keating
         Cheryl_Keating@Oxfordcorp.com

     (3) GE Aviation Czech, s.r.o.
         30 Merchant Street
         Cincinnati, OH 45246-3750
         (513) 240-5640
         Kim Ravenhall
         kim.ravenhall@ge.com

                      About Thrush Aircraft

Thrush Aircraft, Inc., with headquarters in Albany, Ga.,
manufactures a full range of aerial application aircraft used in
agriculture, forestry, and firefighting roles.  Founded in 2003, it
operates in at least 80 countries around the world.

Thrush Aircraft sought Chapter 11 protection (Bankr. M.D. Ga. Case
No. 19-10976) in Albany, Georgia, on Sept. 4, 2019.  According to
the petition signed by K. Payne Hughes Sr., president, the Debtor
was estimated to have $10 million to $50 million in assets and
liabilities as of the petition date.  Stone & Baxter, LLP and Logue
Law, P.C. are the Debtor's counsel.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on Sept. 16.


TRANSDIGM INC: Moody's Affirms B1 CFR & Alters Outlook to Stable
----------------------------------------------------------------
Moody's Investors Service affirmed all of its ratings of TransDigm
Inc., including the B1 Corporate Family, the B1-PD Probability of
Default, the Ba3 senior secured and the B3 senior subordinated.
Moody's also affirmed the B3 rating for the senior subordinated
notes of TransDigm Holdings UK plc. The rating outlook on both
entities was changed to stable from negative.

RATINGS RATIONALE

The stable outlook recognizes TransDigm's earnings growth over the
last few quarters and the resultant reduction in leverage as well
as Moody's expectations of favorable execution on the Esterline
acquisition. Since the close of the Esterline transaction in March
2019, TransDigm has successfully enhanced its margins, signed
agreements to divest non-core parts of the Esterline business and
increased revenues and operational throughput. The stable outlook
also reflects Moody's expectations of a favorable operating
environment going forward that should support continued sales and
earnings growth and robust levels of cash generation.

The B1 Corporate Family Rating considers TransDigm's high tolerance
for financial risk and broadly aggressive financial policies that
prioritize shareholder returns over creditor protections. Moody's
also considers TransDigm's elevated financial leverage (September
2019 estimated Debt-to-EBITDA in the low 7x) and the cyclical
nature of its commercial OEM aerospace markets (30% of sales) which
are vulnerable to economic downturns. TransDigm's strong
competitive position supported by the proprietary and sole-source
nature of the majority of its products as well as its robust
liquidity and favorable demand fundamentals within aerospace and
defense end-markets mitigate concerns about its aggressive
financial policy. The company's installed base of niche products
across multiple carriers and platforms as well as its focus on
highly profitable aftermarkets, which adds stability to its revenue
stream, add further support to the rating.

The SGL-1 Speculative Grade Liquidity rating denotes expectations
of a very good liquidity profile over the next 12 months. Moody's
expects TransDigm to maintain healthy cash balances (September 2019
cash on hand is likely to be about $1.4 billion); the next debt
maturity is the $1.15 billion subordinated notes due July 2022.
Moody's anticipates substantial cash generation before dividends
during fiscal (September) 2019 and fiscal 2020 in amounts
comfortably in excess of $1 billion. Moody's believes this cash
will be used for acquisitions and or returned to shareholders but
not be used to reduce debt. Moody's also expects near full
availability under the $760 million revolving credit facility which
expires in December 2022.

An upgrade is unlikely in the near term given TransDigm's
aggressive financial policy and highly leveraged capital structure.
Any upward rating action would be driven by leverage sustained
below 5x on a Moody's adjusted basis, coupled with the maintenance
of the company's industry leading margins and a continuation of the
strong liquidity profile.

Factors that could result in lower ratings include expectations
that Moody's adjusted Debt-to-EBITDA will remain sustained at the
high 7x level. An inability or an unwillingness to reduce financial
leverage back towards 7x would likely cause downward rating
pressure. An inability to continue to make regular price increases
or expectations of pricing pressure from aftermarket customers that
meaningfully lowers the company's EBITDA margins below 40% could
also result in a ratings downgrade. A deteriorating liquidity
profile involving Cash Flow from Operations less Capex-to-Debt
continuously below 5%, annual free cash flow generation sustained
below $700 million or a reliance on revolver borrowings could
pressure the rating downward.

The following summarizes the rating actions:

Issuer: TransDigm Inc.

Corporate Family Rating, Affirmed B1

Probability of Default Rating, Affirmed B1-PD

Senior Subordinated Regular Bond/Debenture, Affirmed B3 (LGD5)

Senior Secured Bank Credit Facility, Affirmed Ba3 (LGD3)

Senior Secured Bond/Debenture, Affirmed Ba3 (LGD3)

Speculative Grade Liquidity Rating, unchanged at SGL-1

Outlook, Changed To Stable from Negative

Issuer: TransDigm Holdings UK plc

Senior Subordinated Regular Bond/Debenture, Affirmed B3 (LGD5)

Outlook, Changed To Stable from Negative

TransDigm Inc., headquartered in Cleveland, Ohio, is a manufacturer
of engineered aerospace components for commercial airlines,
aircraft maintenance facilities, original equipment manufacturers
and various agencies of the US Government. TransDigm Inc. is the
wholly-owned subsidiary of TransDigm Group Incorporated. Esterline
Technologies Corp. designs and manufactures highly engineered
products and systems primarily serving aerospace and defense
customers. Pro forma revenues for the last twelve-month period
ending September 30, 2019 are expected to be about $5.5 billion.

The principal methodology used in these ratings was Aerospace and
Defense Industry published in March 2018.


TRI-CORE PARTNERS: Continued Cash Collateral Hearing on Sept. 24
----------------------------------------------------------------
Judge Mindy A. Mora of the U.S. Bankruptcy Court for the Southern
District of Florida has entered a second interim order authorizing
Tri-Core Partners USA LLC's use of cash collateral in the regular
course of its business pursuant to the budgets.

A continued hearing is scheduled to take place on Sept. 24, 2019 at
1:30 p.m. during which time the Court will consider the issues
presented in Expansion Capital Group's Objection to Debtor's use of
cash collateral.

The Debtor's authorization to use cash collateral is limited to a
variance not to exceed 10% of any particular line item expense on
the budgets.

Quick Bridge Funding claims to have a security interest in the
Debtor's future receivables pursuant to that certain Business Loan
Agreement.

Quick Bridge is granted a replacement lien, to the same extent as
any pre-petition lien, on and in all property set forth in Quick
Bridge's security agreement and related lien document of Quick
Bridge on the specific Collateral listed in the security document,
including proceeds derived from the creditor's Collateral generated
postpetition by the Debtor, on a final basis through and including
the final hearing in the matter, without any waiver by the Debtor
as to the extent, validity or priority of said liens.

                  About Tri-Core Partners USA

Tri-Core Partners USA LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Fla. Case No. 19-16931) on May 24,
2019.  At the time of the filing, the Debtor estimated assets of
between $100,001 and $500,000 and liabilities of the same range.
The petition was signed by the Debtor's manager, Darrian Kelly.
The case is assigned to Judge Mindy A. Mora. Kelley, Fulton &
Kaplan, P.L., is the Debtor's legal counsel.  The U.S. Trustee did
not appoint an official committee of unsecured creditors in the
Chapter 11 case.




TRIBECA AESTHETIC: Says PCO Appointment Not Necessary
-----------------------------------------------------
Tribeca Aesthetic Medical Solutions, LLC, is a plastic surgery
center specializing in both surgical and nonsurgical procedures.
The Debtor does not dispute that it is a health care business.

However, the Debtor says it cannot afford the administrative burden
of an ombudsman, and the final factor also weighs against the
appointment.

Accordingly, the Debtor requests that the Court enter an Order
determining that the appointment of a patient care ombudsman is not
necessary in this case.

             About Tribeca Aesthetic Medical Solutions
  
Tribeca Aesthetic Medical Solutions, LLC sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No.
19-20582) on Aug. 7, 2019.  At the time of the filing, the Debtor
had estimated assets of between $100,001 and $500,000 and
liabilities of between $500,001 and $1 million.  The case has been
assigned to Judge Laurel M. Isicoff.  The Debtor is represented by
Shraiberg Landau & Page PA.

The U.S. Trustee, until further notice, will not appoint an
official committee of unsecured creditors in the Chapter 11 case of
Tribeca Aesthetic Medical Solutions, LLC, according to court
dockets.


US VIRGIN ISLANDS: Moody's Confirms Caa3 Issuer Rating
------------------------------------------------------
Moody's Investors Service confirmed the US Virgin Islands' Caa3
issuer rating, as well as the ratings on the territory's four liens
of matching fund revenue bonds issued through the Virgin Islands
Public Finance Authority: Senior Lien Bonds, Caa2; Subordinate Lien
Bonds, Caa3; Subordinated Indenture Bonds, Caa3, and Subordinated
Indenture Bonds, Caa3. This action concludes the review of the
ratings that Moody's initiated on June 12 for lack of sufficient
financial information. This action affects approximately $1.06
billion in outstanding matching fund debt. The outlook on these
ratings is stable.

RATING RATIONALE

The conclusion of the rating review follows its determination that
the available information is sufficient, at this time, to maintain
the ratings. Audited financial statements for the fiscal year
ending September 30, 2017, have been delayed due to the impact of
the hurricanes in September 2017. The government recently provided
unaudited financial results for fiscal 2017 and projected
cash-basis results for fiscal years 2018 and 2019 are included in
the government's proposed budget for fiscal 2020. Moody's expects
that audited financial statements for fiscal 2017 will be released
shortly and that, going forward, audits for fiscal years 2018 and
2019 will be released on a more timely basis. Other important
information that is updated regularly includes monthly and
quarterly economic and revenue data.

The Caa3 issuer rating reflects a small and highly concentrated
economy, government finances that have been severely strained, a
very poorly funded pension system that is rapidly depleting its
asset base, financial reporting and other governance challenges,
and the government's loss of capital markets access since 2017.
Despite some recent improvement in the government's liquidity and
near-term financial position, the rating incorporates the risk that
the reemergence of a significant structural deficit, combined with
the expected insolvency of the Government Employees' Retirement
System, will lead the government to restructure its debt.

The matching fund revenue bonds are secured by remittances to the
Virgin Islands government from the US government of excise taxes
collected on rum produced in the territory and exported to the US.
The Caa2 and Caa3 ratings on the matching fund revenue bonds
recognize that these pledged revenues are currently paid directly
by the US Treasury to the trustee. But this mechanism has not been
tested in a stress situation in which the government attempts to
divert pledged revenue for general government purposes. In
addition, the matching fund revenue bonds would likely be included
in any attempt to restructure the government's debt.

RATING OUTLOOK

The stable outlook reflects recent improvement in the government's
liquidity and near-term financial position driven by the receipt of
disaster assistance and loans from the US government, a surge in
tax revenues associated with local reconstruction activities, and
an increase in concession fees from the Limetree (formerly Hovensa)
refinery facility.

FACTORS THAT COULD LEAD TO AN UPGRADE

  - Maintenance of structural balances by the primary government
over an extended period.

  - Adoption of a credible plan to address the large unfunded
pension liability.

FACTORS THAT COULD LEAD TO A DOWNGRADE

  - Default on government debt or initiation of a debt
restructuring.

  - Erosion of the government's financial position and liquidity.

  - For the matching fund bonds only, a decline in matching fund
revenues and debt service coverage due to a drop in rum shipments
by the two distilleries or a reduction by the US government of the
excise tax rate.

LEGAL SECURITY

The Issuer Rating is equivalent to the rating Moody's would assign
to general obligation debt of the government. The matching fund
revenue bonds are secured by remittances to the Virgin Islands
government from the US government of excise taxes collected on rum
produced in the territory and exported to the US. Security for the
matching fund bonds is established by the trust indenture, the loan
agreement, the special escrow agreement, and Virgin Islands
statutes. The government has pledged and assigned matching fund
revenues to the trustee for the benefit of bondholders,
establishing a security interest in the revenues. The statutes are
written to create a statutory lien on the revenues. In the loan
agreement the government covenants to direct the US Treasury to pay
the pledged matching fund revenues directly to the trustee. This
structure provides apparent bondholder protections and stronger
credit quality than unsecured general obligation bonds, but it has
not been tested in a severe stress scenario.

PROFILE

The territory's economy was in decline prior to the hurricanes of
September 2017. As a result of the closure of the Hovensa oil
refinery in 2012 and weak performance in the tourism sector,
nominal GDP declined at a compounded annual rate of 1.2% from 2012
to 2017. Population decreased from 115,852 in 2008 to 96,815 in
2017, while employment fell from 49,589 to 42,418 over the same
period. Visitor arrivals have recovered since the hurricanes but
remain below historical levels.

Government finances have been severely strained. Revenues declined
abruptly in fiscal 2008 and 2009 due to the recession and operating
losses at the Hovensa refinery. Since then the government addressed
the resulting operating deficits primarily with borrowings and
one-time revenues. After failing to complete a deficit financing in
January 2017, the government's financial position and liquidity
deteriorated rapidly despite the enactment of some limited tax
increases in February. The hurricanes resulted in an interruption
in tax revenues and added storm-related expenditures, further
straining the government's financial position. While the receipt of
grants and loans from the federal government in response to the
hurricanes and a surge in tax revenues associated with local
rebuilding efforts have provided some near-term relief, the general
fund could return to structural imbalance in coming years.

The Virgin Islands' government employees' retirement system has an
extremely large unfunded liability. As of September 30, 2017, the
GAAP-basis net pension liability for the system was $4.4 billion.
System assets are projected to be depleted by 2023 or sooner. Upon
insolvency, projected contributions will cover only about half of
projected benefits and expenses.

METHODOLOGY

The principal methodology used in the long-term issuer rating was
US States and Territories published in April 2018. The principal
methodology used in the matching fund revenue bond ratings was US
Public Finance Special Tax Methodology published in July 2017.


VANGUARD HEALTH: Nov. 12 Plan Confirmation Hearing
--------------------------------------------------
Judge Jacqueline Cox of the U.S. Bankruptcy Court for the Northern
District of Illinois, Eastern Division, issued an order combining
the hearing to consider approving the disclosure statement and
confirming the plan of reorganization filed by Vanguard Health &
Wellness, LLC.

A combined hearing to consider the Proposed Disclosure Statement
and Confirmation of the Modified Plan of Reorganization approval
will be held on November 12, 2019, at 10:00 a.m.
Ballots rejecting or accepting the Plan should be filed with the
Clerk on or before October 31, 2019.

Objections to confirmation of the Proposed Disclosure Statement and
Modified Plan should be filed with the Clerk of the Court on or
before October 31, 2019.

The Debtor should file a ballot report by November 5, 2019.

The Debtor is represented by Ledford, Wu & Borges, LLC.

            About Vanguard Health & Wellness

Founded in 2011, Vanguard Health & Wellness LLC --
http://www.vanguardhealth.net/-- is a provider of home health
services.  It offers nursing, physical therapy, occupational
therapy, speech therapy, home health aides, and medical social
services at the patients' homes.

Vanguard Health & Wellness sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. N.D. Ill. Case No. 19-08329) on March
22, 2019.  It previously sought bankruptcy protection (Bankr. N.D.
Ill. Case No. 17-04707) on Feb. 17, 2017.  At the time of the
filing, the Debtor disclosed $126,229 in assets and $1,122,222 in
liabilities.  The case is assigned to Judge Jacqueline P. Cox.
Borges & Wu, LLC, is the Debtor's counsel.


VISTA OUTDOOR: S&P Lowers ICR to 'B' on Declining Performance
-------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on U.S.–based
Vista Outdoor Inc. to 'B' from 'B+' because it expects
profitability to remain weak in fiscal 2020 and leverage to remain
above 5x.

At the same time, S&P lowered its issue-level rating on the
company's senior unsecured notes to 'B' from 'B+'. The '3' recovery
rating remains unchanged, indicating S&P's expectation for
meaningful (50%-70%, rounded estimate: 55%) recovery in the event
of a payment default.

The downgrade reflects S&P's expectation for the company to
maintain leverage between 5x and 5.5x through fiscal 2020 as
ammunition headwinds persist and outdoor product sales remain soft.
It believes weaker retail demand and additional tariffs on imports
from China will continue to hurt overall profitability. New
management has taken steps to turnaround the business and
deleverage, but S&P believes the company will take a few years
before leverage declines back to below 5x, absent a sizable
divestiture.

The stable outlook reflects S&P's expectation that leverage will
remain in the low- to mid-5x range over the next 12 months,
supported by transformation costs and profitability initiatives.

We could lower the ratings if we expect leverage to be more than 7x
or if the company generates minimal free cash flow. This could
happen from weaker operating performance due to additional customer
bankruptcies, a greater downturn in the ammunition market, or a
severe recession that pressures discretionary purchases in the
outdoor sports segment," S&P said.

"Although unlikely during the next year, we could raise the ratings
if we believe the company can keep leverage below 5x and generate
free cash flow of at least $50 million. We believe the company
could reduce leverage below 5x if it improves EBITDA margins by
more than 110 basis points from fiscal 2019, and adheres to its
debt repayment plan, including utilizing the proceeds from asset
sales," the rating agency said.


WELLCARE HEALTH: S&P Keeps 'BB' Rating on CreditWatch Positive
--------------------------------------------------------------
S&P Global Ratings said that its 'BB' long-term issuer credit
rating on WellCare Health Plans Inc. remains on CreditWatch with
positive implications, where the rating agency originally placed it
on March 27, 2019.

If Centene completes its acquisition of WellCare (possibly in the
first half of 2020), S&P will likely raise its rating on WellCare
to the same level as that on Centene (currently one notch higher).

S&P's rating on WellCare reflects its key strengths, including its
rapidly growing government-focused managed care business; solid
market positions in Medicaid (No. 1 in six out of 13 contracted
states), Medicare Advantage (No. 6 nationally), and stand-alone
Medicare Part D (No. 4 nationally); run-rate adjusted EBIT return
on revenue of 3.5%-4.5%; and adequate 'BBB' capital redundancy per
S&P's insurance capital model.


WILLIAMS PLUMBING: Seeks Access to BFS Capital Cash Collateral
--------------------------------------------------------------
Williams Plumbing, Heating, and Air Conditioning, Inc., requests
the U.S. Bankruptcy Court for the Middle District of Alabama to
allow its use of BFS Capital cash collateral incident to expenses
incurred in the normal course of business.

The Debtor proposes to use the cash collateral to meet its
postpetition obligations and to pay its expenses, general and
administrative operating expenses, and other necessary costs and
expenses, including taxes and insurance and other expenses incurred
during the pendency of the bankruptcy case as listed in the
budget.

The Debtor has a note with BFS Capital having a balance of
approximately $24,216.  The Debtor disputes this balance. As
security for its claims, BFS Capital has lien on all accounts
receivable and working capital.

The Debtor will not provide BFS Capital any adequate protection
payment.

                    About Williams Plumbing

Williams Plumbing, Heating, and Air Conditioning, Inc., operates a
heating, and air conditioning company, specifically installing and
repairing HVAC systems.  The company is operated by Michael Coker.

Williams Plumbing sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Ala. Case No. 19-30125) on Jan. 16,
2019.  In the petition sigend by its president, Michael Coker, the
Debtor disclosed assets under  $50,000 and liabilities ranging
between $500,001 and $1 million. The Debtor tapped The Fritz Law
Firm as its legal counsel.  No official committee of unsecured
creditors has been appointed in the Chapter 11 case.


WILLIAMS PLUMBING: Seeks Access to Par Funding Cash Collateral
--------------------------------------------------------------
Williams Plumbing, Heating, and Air Conditioning, Inc., requests
the U.S. Bankruptcy Court for the Middle District of Alabama to
allow its use of Par Funding cash collateral incident to expenses
incurred in the normal course of business.

The Debtor proposes to use the cash collateral to meet its
postpetition obligations and to pay its expenses, general and
administrative operating expenses, and other necessary costs and
expenses, including taxes and insurance and other expenses incurred
during the pendency of the bankruptcy case as listed in the
budget.

The Debtor has a note with Complete Business Solutions/Par Funding
having a balance of approximately $23,559. The Debtor disputes this
balance. As security for its claims, Par Funding has lien on all
accounts receivable and working capital.

The Debtor will not provide Par Funding any adequate protection
payment.

                    About Williams Plumbing

Williams Plumbing, Heating, and Air Conditioning, Inc., operates a
heating, and air conditioning company, specifically installing and
repairing HVAC systems.  The company is operated by Michael Coker.

Williams Plumbing sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Ala. Case No. 19-30125) on Jan. 16,
2019.  In the petition sigend by its president, Michael Coker, the
Debtor disclosed assets under  $50,000 and liabilities ranging
between $500,001 and $1 million. The Debtor tapped The Fritz Law
Firm as its legal counsel.  No official committee of unsecured
creditors has been appointed in the Chapter 11 case.


WILLIAMS PLUMBING: Seeks Permission to Use Kabbage Cash Collateral
------------------------------------------------------------------
Williams Plumbing, Heating, and Air Conditioning, Inc., asks the
U.S. Bankruptcy Court for the Middle District of Alabama to allow
its use of Kabbage Inc. cash collateral incident to expenses
incurred in the normal course of business.

The Debtor proposes to use the cash collateral to meet its
postpetition obligations and to pay its expenses, general and
administrative operating expenses, and other necessary costs and
expenses, including taxes and insurance and other expenses incurred
during the pendency of the bankruptcy case as listed in the budget.


The Debtor has a note with Kabbage, Inc. having a balance of
approximately $30,000. The Debtor disputes this balance. As
security for its claims, Kabbage has a lien on all accounts
receivable and working capital.

The Debtor will not provide adequate protection payment to
Kabbage.

                    About Williams Plumbing

Williams Plumbing, Heating, and Air Conditioning, Inc., operates a
heating, and air conditioning company, specifically installing and
repairing HVAC systems.  The company is operated by Michael Coker.

Williams Plumbing sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Ala. Case No. 19-30125) on Jan. 16,
2019.  In the petition sigend by its president, Michael Coker, the
Debtor disclosed assets under  $50,000 and liabilities ranging
between $500,001 and $1 million. The Debtor tapped The Fritz Law
Firm as its legal counsel.  No official committee of unsecured
creditors has been appointed in the Chapter 11 case.


WILLIAMS PLUMBING: Seeks Permission to Use On Deck Cash Collateral
------------------------------------------------------------------
Williams Plumbing, Heating, and Air Conditioning, Inc. asks the
U.S. Bankruptcy Court for the Middle District of Alabama to allow
its use of On Deck Capital, Inc. cash collateral incident to
expenses incurred in the normal course of business.

The Debtor proposes to use the cash collateral to meet its
postpetition obligations and to pay its expenses, general and
administrative operating expenses, and other necessary costs and
expenses, including taxes and insurance and other expenses incurred
during the pendency of the bankruptcy case as listed in the budget.


The Debtor has a note with On Deck Capital, Inc. having a balance
of approximately $40,000. The Debtor disputes this balance. As
security for its claims, On Deck has a lien on all accounts
receivable and working capital.

The Debtor will not provide On Deck with adequate protection
payment.

                    About Williams Plumbing

Williams Plumbing, Heating, and Air Conditioning, Inc., operates a
heating, and air conditioning company, specifically installing and
repairing HVAC systems.  The company is operated by Michael Coker.

Williams Plumbing sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Ala. Case No. 19-30125) on Jan. 16,
2019.  In the petition sigend by its president, Michael Coker, the
Debtor disclosed assets under  $50,000 and liabilities ranging
between $500,001 and $1 million. The Debtor tapped The Fritz Law
Firm as its legal counsel.  No official committee of unsecured
creditors has been appointed in the Chapter 11 case.


WILLOWOOD USA: Cimarron Label Steps Down as Committee Member
------------------------------------------------------------
The Office of the U.S. Trustee on Sept. 19 disclosed in court
filings that Cimarron Label, Inc. resigned from the official
committee of unsecured creditors in the Chapter 11 case of
Willowood USA, LLC.

As of Sept. 19, the members of the committee are:

     (1) BASF Corporation
         Representative: Peter Argiriou
         c/o Wojciech F. Jung Lowenstein Sandler, LLP  
         65 Livingston Ave.  
         Roseland, NJ 07068
         Fax: (646)414-6862
         Phone: (973)597-2465
         Email: Wjung@lowenstein.com  

     (2) Landstar Ranger, Inc.
         Representative: Dawn Bowers
         c/o Vic H. Henry
         600 17th St., Ste. 2800
         Denver, CO 80202
         Phone: (303)260-6444
         Fax: (303)260-6401  
         Email: vhhenry@hoaf.com

                        About Willowood USA

Willowood USA, LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Colo. Case No. 19-11320) on Feb. 27,
2019.  The case is jointly administered with the Chapter 11 case of
Willowood USA Holdings, LLC (Bankr. D. Colo. Case No. 19-11079).
At the time of the filing, the Debtor estimated assets of $10
million to $50 million and liabilities of the same range.

The case is assigned to Judge Kimberley H. Tyson.

Brownstein Hyatt Farber Schreck, LLP, is the Debtor's legal
counsel; r2 advisors, llc, is the chief restructuring officer; and
Piper Jaffray & Co., is the investment banker.  Bankruptcy
Management Solutions, Inc. d/b/a Stretto, is the claims and
noticing agent.

The Office of the U.S. Trustee on March 12, 2019, appointed an
official committee of unsecured creditors in the Debtor's Chapter
11 case.  The committee tapped CKR Law LLP and was substituted by
Montgomery McCracken Walker and Rhoads LLP, as counsel; Kutner
Brinen, P.C. as local co-counsel; and PricewaterhouseCoopers LLP as
its financial advisor.


[^] Large Companies with Insolvent Balance Sheet
------------------------------------------------

                                               Total
                                              Share-       Total
                                    Total   Holders'     Working
                                   Assets     Equity     Capital
  Company         Ticker             ($MM)      ($MM)       ($MM)
  -------         ------           ------   --------     -------
ABBVIE INC        4AB GR         57,142.0   (8,566.0)   (1,841.0)
ABBVIE INC        ABBV SW        57,142.0   (8,566.0)   (1,841.0)
ABBVIE INC        ABBV* MM       57,142.0   (8,566.0)   (1,841.0)
ABBVIE INC        4AB GZ         57,142.0   (8,566.0)   (1,841.0)
ABBVIE INC        ABBV AV        57,142.0   (8,566.0)   (1,841.0)
ABBVIE INC        4AB TH         57,142.0   (8,566.0)   (1,841.0)
ABBVIE INC        4AB TE         57,142.0   (8,566.0)   (1,841.0)
ABBVIE INC        ABBVEUR EU     57,142.0   (8,566.0)   (1,841.0)
ABBVIE INC        4AB QT         57,142.0   (8,566.0)   (1,841.0)
ABBVIE INC        ABBV US        57,142.0   (8,566.0)   (1,841.0)
ABBVIE INC        ABBVUSD EU     57,142.0   (8,566.0)   (1,841.0)
ABBVIE INC-BDR    ABBV34 BZ      57,142.0   (8,566.0)   (1,841.0)
ABSOLUTE SOFTWRE  ALSWF US          103.3      (50.6)      (27.4)
ABSOLUTE SOFTWRE  ABT CN            103.3      (50.6)      (27.4)
ABSOLUTE SOFTWRE  OU1 GR            103.3      (50.6)      (27.4)
ABSOLUTE SOFTWRE  ABT2EUR EU        103.3      (50.6)      (27.4)
AGENUS INC        AGENUSD EU        206.7     (134.7)       17.2
AGENUS INC        AGEN US           206.7     (134.7)       17.2
AMER RESTAUR-LP   ICTPU US           33.5       (4.0)       (6.2)
AMERICAN AIRLINE  A1G GZ         61,967.0      (22.0)  (10,273.0)
AMERICAN AIRLINE  AAL11EUR EU    61,967.0      (22.0)  (10,273.0)
AMERICAN AIRLINE  AAL AV         61,967.0      (22.0)  (10,273.0)
AMERICAN AIRLINE  AAL TE         61,967.0      (22.0)  (10,273.0)
AMERICAN AIRLINE  A1G SW         61,967.0      (22.0)  (10,273.0)
AMERICAN AIRLINE  A1G QT         61,967.0      (22.0)  (10,273.0)
AMERICAN AIRLINE  AAL US         61,967.0      (22.0)  (10,273.0)
AMERICAN AIRLINE  A1G GR         61,967.0      (22.0)  (10,273.0)
AMERICAN AIRLINE  AAL* MM        61,967.0      (22.0)  (10,273.0)
AMERICAN AIRLINE  AAL1USD EU     61,967.0      (22.0)  (10,273.0)
AMERICAN AIRLINE  A1G TH         61,967.0      (22.0)  (10,273.0)
AMYRIS INC        AMRSUSD EU        172.8     (174.4)     (111.5)
AMYRIS INC        3A01 QT           172.8     (174.4)     (111.5)
AMYRIS INC        AMRSEUR EU        172.8     (174.4)     (111.5)
AMYRIS INC        AMRS US           172.8     (174.4)     (111.5)
AMYRIS INC        3A01 GR           172.8     (174.4)     (111.5)
AMYRIS INC        3A01 TH           172.8     (174.4)     (111.5)
ATLATSA RESOURCE  ATL SJ            138.8     (307.6)     (347.9)
AUTODESK INC      AUD GZ          4,872.7     (194.3)   (1,191.8)
AUTODESK INC      ADSK AV         4,872.7     (194.3)   (1,191.8)
AUTODESK INC      ADSKEUR EU      4,872.7     (194.3)   (1,191.8)
AUTODESK INC      ADSKUSD EU      4,872.7     (194.3)   (1,191.8)
AUTODESK INC      ADSK TE         4,872.7     (194.3)   (1,191.8)
AUTODESK INC      ADSK* MM        4,872.7     (194.3)   (1,191.8)
AUTODESK INC      AUD QT          4,872.7     (194.3)   (1,191.8)
AUTODESK INC      AUD GR          4,872.7     (194.3)   (1,191.8)
AUTODESK INC      ADSK US         4,872.7     (194.3)   (1,191.8)
AUTODESK INC      AUD TH          4,872.7     (194.3)   (1,191.8)
AUTOZONE INC      AZOUSD EU       9,773.7   (1,589.5)     (345.5)
AUTOZONE INC      AZO AV          9,773.7   (1,589.5)     (345.5)
AUTOZONE INC      AZ5 TE          9,773.7   (1,589.5)     (345.5)
AUTOZONE INC      AZO* MM         9,773.7   (1,589.5)     (345.5)
AUTOZONE INC      AZOEUR EU       9,773.7   (1,589.5)     (345.5)
AUTOZONE INC      AZ5 QT          9,773.7   (1,589.5)     (345.5)
AUTOZONE INC      AZO US          9,773.7   (1,589.5)     (345.5)
AUTOZONE INC      AZ5 GR          9,773.7   (1,589.5)     (345.5)
AUTOZONE INC      AZ5 TH          9,773.7   (1,589.5)     (345.5)
AVID TECHNOLOGY   AVID US           282.1     (175.8)      (20.2)
AVID TECHNOLOGY   AVD GR            282.1     (175.8)      (20.2)
AYR STRATEGIES I  AYR/A CN          136.4     (286.0)       (5.6)
BABCOCK & WILCOX  BW US             772.0     (343.0)     (218.5)
BENEFITFOCUS INC  BNFTEUR EU        335.2      (19.1)      113.5
BENEFITFOCUS INC  BNFT US           335.2      (19.1)      113.5
BENEFITFOCUS INC  BTF GR            335.2      (19.1)      113.5
BEYONDSPRING INC  BYSI US             6.0      (18.1)      (17.0)
BIOCRYST PHARM    BCRXUSD EU        116.3       (9.2)       31.8
BIOCRYST PHARM    BCRX* MM          116.3       (9.2)       31.8
BJ'S WHOLESALE C  BJ US           5,152.1     (164.6)     (345.8)
BJ'S WHOLESALE C  8BJ GR          5,152.1     (164.6)     (345.8)
BJ'S WHOLESALE C  8BJ TH          5,152.1     (164.6)     (345.8)
BJ'S WHOLESALE C  8BJ QT          5,152.1     (164.6)     (345.8)
BLOOM ENERGY C-A  BE US           1,222.6      (11.2)      253.2
BLOOM ENERGY C-A  1ZB GR          1,222.6      (11.2)      253.2
BLOOM ENERGY C-A  BE1EUR EU       1,222.6      (11.2)      253.2
BLOOM ENERGY C-A  1ZB QT          1,222.6      (11.2)      253.2
BLOOM ENERGY C-A  BE1USD EU       1,222.6      (11.2)      253.2
BLOOM ENERGY C-A  1ZB TH          1,222.6      (11.2)      253.2
BLUE BIRD CORP    BLBD US           408.4      (61.2)       15.0
BLUELINX HOLDING  BXC US          1,081.2      (12.8)      456.0
BOEING CO-BDR     BOEI34 BZ     126,261.0   (4,943.0)    2,922.0
BOEING CO-CED     BA AR         126,261.0   (4,943.0)    2,922.0
BOEING CO-CED     BAD AR        126,261.0   (4,943.0)    2,922.0
BOEING CO/THE     BA CI         126,261.0   (4,943.0)    2,922.0
BOEING CO/THE     BAUSD SW      126,261.0   (4,943.0)    2,922.0
BOEING CO/THE     BCO GZ        126,261.0   (4,943.0)    2,922.0
BOEING CO/THE     BA AV         126,261.0   (4,943.0)    2,922.0
BOEING CO/THE     BCO QT        126,261.0   (4,943.0)    2,922.0
BOEING CO/THE     BCO GR        126,261.0   (4,943.0)    2,922.0
BOEING CO/THE     BAEUR EU      126,261.0   (4,943.0)    2,922.0
BOEING CO/THE     BA EU         126,261.0   (4,943.0)    2,922.0
BOEING CO/THE     BOE LN        126,261.0   (4,943.0)    2,922.0
BOEING CO/THE     BA US         126,261.0   (4,943.0)    2,922.0
BOEING CO/THE     BCO TH        126,261.0   (4,943.0)    2,922.0
BOEING CO/THE     BA SW         126,261.0   (4,943.0)    2,922.0
BOEING CO/THE     BA* MM        126,261.0   (4,943.0)    2,922.0
BOEING CO/THE     BA TE         126,261.0   (4,943.0)    2,922.0
BOMBARDIER INC-B  BBDBN MM       26,688.0   (4,352.0)      (57.0)
BRINKER INTL      BKJ QT          1,258.3     (778.2)     (244.6)
BRINKER INTL      EAT2EUR EU      1,258.3     (778.2)     (244.6)
BRINKER INTL      BKJ GR          1,258.3     (778.2)     (244.6)
BRINKER INTL      EAT US          1,258.3     (778.2)     (244.6)
BRP INC/CA-SUB V  DOO CN          3,505.3     (614.6)      (46.0)
BRP INC/CA-SUB V  B15A GR         3,505.3     (614.6)      (46.0)
BRP INC/CA-SUB V  DOOO US         3,505.3     (614.6)      (46.0)
CADIZ INC         CDZI US            77.5      (79.8)       16.7
CADIZ INC         2ZC GR             77.5      (79.8)       16.7
CASTLE BIOSCIENC  CSTL US            33.3       (3.6)       16.8
CATASYS INC       CATS US            16.1      (12.2)       (0.5)
CDK GLOBAL INC    C2G QT          2,999.0     (714.5)      149.2
CDK GLOBAL INC    CDK* MM         2,999.0     (714.5)      149.2
CDK GLOBAL INC    CDKUSD EU       2,999.0     (714.5)      149.2
CDK GLOBAL INC    C2G TH          2,999.0     (714.5)      149.2
CDK GLOBAL INC    CDKEUR EU       2,999.0     (714.5)      149.2
CDK GLOBAL INC    C2G GR          2,999.0     (714.5)      149.2
CDK GLOBAL INC    CDK US          2,999.0     (714.5)      149.2
CEDAR FAIR LP     FUN US          2,532.8     (100.2)      139.8
CEDAR FAIR LP     FUN1EUR EU      2,532.8     (100.2)      139.8
CEDAR FAIR LP     7CF GR          2,532.8     (100.2)      139.8
CHEWY INC- CL A   CHWY US           813.9     (361.7)     (407.9)
CHOICE HOTELS     CZH GR          1,214.3     (122.7)      (44.1)
CHOICE HOTELS     CHH US          1,214.3     (122.7)      (44.1)
CINCINNATI BELL   CBBEUR EU       2,655.7     (112.3)     (111.3)
CINCINNATI BELL   CBB US          2,655.7     (112.3)     (111.3)
CINCINNATI BELL   CIB1 GR         2,655.7     (112.3)     (111.3)
CLOVIS ONCOLOGY   C6O QT            686.0      (30.0)      272.6
CLOVIS ONCOLOGY   CLVSUSD EU        686.0      (30.0)      272.6
CLOVIS ONCOLOGY   C6O TH            686.0      (30.0)      272.6
CLOVIS ONCOLOGY   C6O SW            686.0      (30.0)      272.6
CLOVIS ONCOLOGY   CLVSEUR EU        686.0      (30.0)      272.6
CLOVIS ONCOLOGY   C6O GR            686.0      (30.0)      272.6
CLOVIS ONCOLOGY   CLVS US           686.0      (30.0)      272.6
COGENT COMMUNICA  CCOI US           949.1     (176.6)      395.8
COGENT COMMUNICA  OGM1 GR           949.1     (176.6)      395.8
COHERUS BIOSCIEN  8C5 QT            240.5       (4.0)      144.4
COHERUS BIOSCIEN  CHRSUSD EU        240.5       (4.0)      144.4
COHERUS BIOSCIEN  8C5 TH            240.5       (4.0)      144.4
COHERUS BIOSCIEN  CHRSEUR EU        240.5       (4.0)      144.4
COHERUS BIOSCIEN  CHRS US           240.5       (4.0)      144.4
COHERUS BIOSCIEN  8C5 GR            240.5       (4.0)      144.4
COLGATE-BDR       COLG34 BZ      13,151.0      (10.0)      473.0
COLGATE-CEDEAR    CL AR          13,151.0      (10.0)      473.0
COLGATE-PALMOLIV  CL US          13,151.0      (10.0)      473.0
COLGATE-PALMOLIV  CPA GR         13,151.0      (10.0)      473.0
COLGATE-PALMOLIV  CLUSD SW       13,151.0      (10.0)      473.0
COLGATE-PALMOLIV  CPA GZ         13,151.0      (10.0)      473.0
COLGATE-PALMOLIV  CL TE          13,151.0      (10.0)      473.0
COLGATE-PALMOLIV  COLG AV        13,151.0      (10.0)      473.0
COLGATE-PALMOLIV  CPA QT         13,151.0      (10.0)      473.0
COLGATE-PALMOLIV  CL SW          13,151.0      (10.0)      473.0
COLGATE-PALMOLIV  CPA TH         13,151.0      (10.0)      473.0
COLGATE-PALMOLIV  CL EU          13,151.0      (10.0)      473.0
COLGATE-PALMOLIV  CLEUR EU       13,151.0      (10.0)      473.0
COLGATE-PALMOLIV  CL* MM         13,151.0      (10.0)      473.0
COMMUNITY HEALTH  CG5 QT         16,132.0   (1,256.0)      981.0
COMMUNITY HEALTH  CYH1EUR EU     16,132.0   (1,256.0)      981.0
COMMUNITY HEALTH  CG5 TH         16,132.0   (1,256.0)      981.0
COMMUNITY HEALTH  CYH US         16,132.0   (1,256.0)      981.0
COMMUNITY HEALTH  CG5 GR         16,132.0   (1,256.0)      981.0
CORREVIO PHARMA   CORV CN            58.7       (0.2)       11.8
CYTOKINETICS INC  CYTKEUR EU        198.2       (4.9)      163.0
CYTOKINETICS INC  KK3A QT           198.2       (4.9)      163.0
CYTOKINETICS INC  KK3A TH           198.2       (4.9)      163.0
CYTOKINETICS INC  CYTKUSD EU        198.2       (4.9)      163.0
CYTOKINETICS INC  CYTK US           198.2       (4.9)      163.0
CYTOKINETICS INC  KK3A GR           198.2       (4.9)      163.0
DELEK LOGISTICS   DKL US            769.3     (144.3)        2.3
DELEK LOGISTICS   D6L GR            769.3     (144.3)        2.3
DENNY'S CORP      DE8 GR            438.7     (142.6)      (41.3)
DENNY'S CORP      DENNEUR EU        438.7     (142.6)      (41.3)
DENNY'S CORP      DENN US           438.7     (142.6)      (41.3)
DIEBOLD NIXDORF   DBDEUR EU       4,104.5     (304.0)      368.1
DIEBOLD NIXDORF   DBDUSD EU       4,104.5     (304.0)      368.1
DIEBOLD NIXDORF   DLD TH          4,104.5     (304.0)      368.1
DIEBOLD NIXDORF   DBD SW          4,104.5     (304.0)      368.1
DIEBOLD NIXDORF   DLD QT          4,104.5     (304.0)      368.1
DIEBOLD NIXDORF   DBD US          4,104.5     (304.0)      368.1
DIEBOLD NIXDORF   DBD GR          4,104.5     (304.0)      368.1
DINE BRANDS GLOB  DIN US          2,040.7     (215.1)        7.9
DINE BRANDS GLOB  IHP GR          2,040.7     (215.1)        7.9
DOLLARAMA INC     DOLEUR EU       3,535.8     (106.0)      125.9
DOLLARAMA INC     DR3 GZ          3,535.8     (106.0)      125.9
DOLLARAMA INC     DR3 QT          3,535.8     (106.0)      125.9
DOLLARAMA INC     DR3 TH          3,535.8     (106.0)      125.9
DOLLARAMA INC     DOLCAD EU       3,535.8     (106.0)      125.9
DOLLARAMA INC     DOL CN          3,535.8     (106.0)      125.9
DOLLARAMA INC     DR3 GR          3,535.8     (106.0)      125.9
DOLLARAMA INC     DLMAF US        3,535.8     (106.0)      125.9
DOMINO'S PIZZA    DPZEUR EU       1,177.2   (2,904.3)      230.5
DOMINO'S PIZZA    DPZUSD EU       1,177.2   (2,904.3)      230.5
DOMINO'S PIZZA    EZV GZ          1,177.2   (2,904.3)      230.5
DOMINO'S PIZZA    DPZ AV          1,177.2   (2,904.3)      230.5
DOMINO'S PIZZA    DPZ* MM         1,177.2   (2,904.3)      230.5
DOMINO'S PIZZA    EZV QT          1,177.2   (2,904.3)      230.5
DOMINO'S PIZZA    EZV GR          1,177.2   (2,904.3)      230.5
DOMINO'S PIZZA    DPZ US          1,177.2   (2,904.3)      230.5
DOMINO'S PIZZA    EZV TH          1,177.2   (2,904.3)      230.5
DOMO INC- CL B    DOMO US           234.5       (4.9)       59.5
DOMO INC- CL B    1ON GR            234.5       (4.9)       59.5
DOMO INC- CL B    DOMOEUR EU        234.5       (4.9)       59.5
DOMO INC- CL B    1ON GZ            234.5       (4.9)       59.5
DOMO INC- CL B    DOMOUSD EU        234.5       (4.9)       59.5
DOMO INC- CL B    1ON TH            234.5       (4.9)       59.5
DUNKIN' BRANDS G  DNKNEUR EU      3,767.9     (656.8)      288.1
DUNKIN' BRANDS G  2DB QT          3,767.9     (656.8)      288.1
DUNKIN' BRANDS G  2DB GZ          3,767.9     (656.8)      288.1
DUNKIN' BRANDS G  2DB GR          3,767.9     (656.8)      288.1
DUNKIN' BRANDS G  2DB TH          3,767.9     (656.8)      288.1
DUNKIN' BRANDS G  DNKN US         3,767.9     (656.8)      288.1
DYNATRACE INC     DT US           1,775.6     (437.6)     (748.4)
EMISPHERE TECH    EMIS US             5.2     (155.3)       (1.4)
ESCUE ENERGY INC  ESCU US             0.0       (7.8)       (3.1)
EVERI HOLDINGS I  EVRIUSD EU      1,596.3      (84.4)        6.7
EVERI HOLDINGS I  EVRIEUR EU      1,596.3      (84.4)        6.7
EVERI HOLDINGS I  EVRI US         1,596.3      (84.4)        6.7
EVERI HOLDINGS I  G2C GR          1,596.3      (84.4)        6.7
EVERI HOLDINGS I  G2C TH          1,596.3      (84.4)        6.7
EXAGEN INC        XGN US             15.3       (7.1)      (10.6)
FC GLOBAL REALTY  FCRE IT             4.2       (0.6)       (3.2)
FILO MINING CORP  FIL SS             11.6       (9.2)      (10.5)
FRONTDOOR IN      FTDR US         1,179.0     (278.0)       52.0
FRONTDOOR IN      FTDREUR EU      1,179.0     (278.0)       52.0
FRONTDOOR IN      3I5 GR          1,179.0     (278.0)       52.0
GOGO INC          GOGOUSD EU      1,282.1     (363.6)      207.7
GOGO INC          GOGOEUR EU      1,282.1     (363.6)      207.7
GOGO INC          G0G TH          1,282.1     (363.6)      207.7
GOGO INC          G0G QT          1,282.1     (363.6)      207.7
GOGO INC          G0G GR          1,282.1     (363.6)      207.7
GOGO INC          GOGO US         1,282.1     (363.6)      207.7
GOOSEHEAD INSU-A  GSHD US            38.1      (30.5)        -
GOOSEHEAD INSU-A  2OX GR             38.1      (30.5)        -
GOOSEHEAD INSU-A  GSHDEUR EU         38.1      (30.5)        -
GRAFTECH INTERNA  EAF US          1,726.4     (709.8)      621.2
GRAFTECH INTERNA  G6G GR          1,726.4     (709.8)      621.2
GRAFTECH INTERNA  EAFEUR EU       1,726.4     (709.8)      621.2
GRAFTECH INTERNA  G6G TH          1,726.4     (709.8)      621.2
GRAFTECH INTERNA  G6G QT          1,726.4     (709.8)      621.2
GRAFTECH INTERNA  EAFUSD EU       1,726.4     (709.8)      621.2
GRAFTECH INTERNA  G6G GZ          1,726.4     (709.8)      621.2
GREEN PLAINS PAR  GPP US            123.2      (73.9)       (4.9)
GREEN PLAINS PAR  8GP GR            123.2      (73.9)       (4.9)
GREENLANE HOLD-A  GNLN US           180.9      130.3       105.6
GREENLANE HOLD-A  G67 GR            180.9      130.3       105.6
GREENLANE HOLD-A  G67 QT            180.9      130.3       105.6
GREENSKY INC-A    GSKY US           840.9      (96.8)      247.4
HANGER INC        HNGR US           780.8      (21.8)       92.3
HCA HEALTHCARE I  HCA* MM        45,449.0   (1,770.0)    3,908.0
HCA HEALTHCARE I  HCAUSD EU      45,449.0   (1,770.0)    3,908.0
HCA HEALTHCARE I  2BH TE         45,449.0   (1,770.0)    3,908.0
HCA HEALTHCARE I  HCAEUR EU      45,449.0   (1,770.0)    3,908.0
HCA HEALTHCARE I  2BH TH         45,449.0   (1,770.0)    3,908.0
HCA HEALTHCARE I  HCA US         45,449.0   (1,770.0)    3,908.0
HCA HEALTHCARE I  2BH GR         45,449.0   (1,770.0)    3,908.0
HERBALIFE NUTRIT  HOO GZ          3,078.6     (534.2)      393.4
HERBALIFE NUTRIT  HLFUSD EU       3,078.6     (534.2)      393.4
HERBALIFE NUTRIT  HOO SW          3,078.6     (534.2)      393.4
HERBALIFE NUTRIT  HLFEUR EU       3,078.6     (534.2)      393.4
HERBALIFE NUTRIT  HOO QT          3,078.6     (534.2)      393.4
HERBALIFE NUTRIT  HOO GR          3,078.6     (534.2)      393.4
HERBALIFE NUTRIT  HLF US          3,078.6     (534.2)      393.4
HEWLETT-CEDEAR    HPQ AR         32,405.0   (1,131.0)   (4,896.0)
HILTON WORLDWIDE  HLTEUR EU      15,140.0      (23.0)     (565.0)
HILTON WORLDWIDE  HLT* MM        15,140.0      (23.0)     (565.0)
HILTON WORLDWIDE  HI91 TE        15,140.0      (23.0)     (565.0)
HILTON WORLDWIDE  HLT US         15,140.0      (23.0)     (565.0)
HILTON WORLDWIDE  HI91 GR        15,140.0      (23.0)     (565.0)
HILTON WORLDWIDE  HI91 TH        15,140.0      (23.0)     (565.0)
HOME DEPOT - BDR  HOME34 BZ      52,010.0   (1,160.0)    1,901.0
HOME DEPOT INC    HD CI          52,010.0   (1,160.0)    1,901.0
HOME DEPOT INC    HDUSD SW       52,010.0   (1,160.0)    1,901.0
HOME DEPOT INC    HDI GZ         52,010.0   (1,160.0)    1,901.0
HOME DEPOT INC    HD AV          52,010.0   (1,160.0)    1,901.0
HOME DEPOT INC    HDEUR EU       52,010.0   (1,160.0)    1,901.0
HOME DEPOT INC    HDI QT         52,010.0   (1,160.0)    1,901.0
HOME DEPOT INC    HDUSD EU       52,010.0   (1,160.0)    1,901.0
HOME DEPOT INC    HD TE          52,010.0   (1,160.0)    1,901.0
HOME DEPOT INC    HD US          52,010.0   (1,160.0)    1,901.0
HOME DEPOT INC    HDI TH         52,010.0   (1,160.0)    1,901.0
HOME DEPOT INC    HDI GR         52,010.0   (1,160.0)    1,901.0
HOME DEPOT INC    HD* MM         52,010.0   (1,160.0)    1,901.0
HOME DEPOT INC    HD SW          52,010.0   (1,160.0)    1,901.0
HOME DEPOT-CED    HDD AR         52,010.0   (1,160.0)    1,901.0
HOME DEPOT-CED    HD AR          52,010.0   (1,160.0)    1,901.0
HP COMPANY-BDR    HPQB34 BZ      32,405.0   (1,131.0)   (4,896.0)
HP INC            HPQ CI         32,405.0   (1,131.0)   (4,896.0)
HP INC            HPQUSD SW      32,405.0   (1,131.0)   (4,896.0)
HP INC            HPQEUR EU      32,405.0   (1,131.0)   (4,896.0)
HP INC            7HP GZ         32,405.0   (1,131.0)   (4,896.0)
HP INC            HPQ AV         32,405.0   (1,131.0)   (4,896.0)
HP INC            HWP QT         32,405.0   (1,131.0)   (4,896.0)
HP INC            HPQUSD EU      32,405.0   (1,131.0)   (4,896.0)
HP INC            HPQ* MM        32,405.0   (1,131.0)   (4,896.0)
HP INC            HPQ TE         32,405.0   (1,131.0)   (4,896.0)
HP INC            7HP TH         32,405.0   (1,131.0)   (4,896.0)
HP INC            7HP GR         32,405.0   (1,131.0)   (4,896.0)
HP INC            HPQ US         32,405.0   (1,131.0)   (4,896.0)
HP INC            HPQ SW         32,405.0   (1,131.0)   (4,896.0)
IAA INC           IAA US          2,010.3     (228.9)      155.5
IAA INC           3NI GR          2,010.3     (228.9)      155.5
IAA INC           IAA-WEUR EU     2,010.3     (228.9)      155.5
IMMUNOGEN INC     IMGNUSD EU        287.7      (68.2)      184.8
IMMUNOGEN INC     IMGN* MM          287.7      (68.2)      184.8
IMMUNOGEN INC     IMGN US           287.7      (68.2)      184.8
INSEEGO CORP      INSG US           164.7      (37.3)     (117.3)
INSEEGO CORP      INO GR            164.7      (37.3)     (117.3)
INSEEGO CORP      INSGEUR EU        164.7      (37.3)     (117.3)
INSEEGO CORP      INSGUSD EU        164.7      (37.3)     (117.3)
INSEEGO CORP      INO GZ            164.7      (37.3)     (117.3)
INSEEGO CORP      INO TH            164.7      (37.3)     (117.3)
INSEEGO CORP      INO QT            164.7      (37.3)     (117.3)
INSPIRED ENTERTA  INSE US           187.7      (22.6)       11.3
IRONWOOD PHARMAC  I76 QT            315.7     (219.4)      110.1
IRONWOOD PHARMAC  IRWDEUR EU        315.7     (219.4)      110.1
IRONWOOD PHARMAC  IRWDUSD EU        315.7     (219.4)      110.1
IRONWOOD PHARMAC  I76 GR            315.7     (219.4)      110.1
IRONWOOD PHARMAC  I76 TH            315.7     (219.4)      110.1
IRONWOOD PHARMAC  IRWD US           315.7     (219.4)      110.1
ISRAMCO INC       ISRLEUR EU        106.7       (2.0)       (7.3)
ISRAMCO INC       IRM GR            106.7       (2.0)       (7.3)
ISRAMCO INC       ISRL US           106.7       (2.0)       (7.3)
JACK IN THE BOX   JBX GZ            831.3     (580.6)     (112.9)
JACK IN THE BOX   JBX QT            831.3     (580.6)     (112.9)
JACK IN THE BOX   JACK1EUR EU       831.3     (580.6)     (112.9)
JACK IN THE BOX   JBX GR            831.3     (580.6)     (112.9)
JACK IN THE BOX   JACK US           831.3     (580.6)     (112.9)
L BRANDS INC      LBUSD EU       10,618.3     (928.7)      436.7
L BRANDS INC      LBRA AV        10,618.3     (928.7)      436.7
L BRANDS INC      LBEUR EU       10,618.3     (928.7)      436.7
L BRANDS INC      LB* MM         10,618.3     (928.7)      436.7
L BRANDS INC      LTD QT         10,618.3     (928.7)      436.7
L BRANDS INC      LTD GR         10,618.3     (928.7)      436.7
L BRANDS INC      LB US          10,618.3     (928.7)      436.7
L BRANDS INC      LTD TH         10,618.3     (928.7)      436.7
L BRANDS INC-BDR  LBRN34 BZ      10,618.3     (928.7)      436.7
LA JOLLA PHARM    LJPC US           169.9      (12.6)      110.4
LA JOLLA PHARM    LJPP GR           169.9      (12.6)      110.4
LAMB WESTON       LW US           3,048.1       (4.6)      408.7
LAMB WESTON       0L5 GR          3,048.1       (4.6)      408.7
LAMB WESTON       LW-WEUR EU      3,048.1       (4.6)      408.7
LAMB WESTON       0L5 TH          3,048.1       (4.6)      408.7
LAMB WESTON       0L5 QT          3,048.1       (4.6)      408.7
LAMB WESTON       LW-WUSD EU      3,048.1       (4.6)      408.7
LAMB WESTON       LW* MM          3,048.1       (4.6)      408.7
LENNOX INTL INC   LII1EUR EU      2,340.4     (217.5)      368.9
LENNOX INTL INC   LXI TH          2,340.4     (217.5)      368.9
LENNOX INTL INC   LII1USD EU      2,340.4     (217.5)      368.9
LENNOX INTL INC   LII* MM         2,340.4     (217.5)      368.9
LENNOX INTL INC   LXI GR          2,340.4     (217.5)      368.9
LENNOX INTL INC   LII US          2,340.4     (217.5)      368.9
LEXICON PHARMACE  LXRXUSD EU        233.1      (64.9)      100.0
LEXICON PHARMACE  LXRXEUR EU        233.1      (64.9)      100.0
LEXICON PHARMACE  LX31 QT           233.1      (64.9)      100.0
LEXICON PHARMACE  LX31 GR           233.1      (64.9)      100.0
LEXICON PHARMACE  LXRX US           233.1      (64.9)      100.0
MARTIN MIDSTREAM  MPB GR            700.5      (37.1)       88.5
MARTIN MIDSTREAM  MMLPUSD EU        700.5      (37.1)       88.5
MARTIN MIDSTREAM  MPB TH            700.5      (37.1)       88.5
MARTIN MIDSTREAM  MMLP US           700.5      (37.1)       88.5
MCDONALDS - BDR   MCDC34 BZ      46,199.8   (6,808.8)      675.4
MCDONALDS CORP    MCD CI         46,199.8   (6,808.8)      675.4
MCDONALDS CORP    MCDUSD SW      46,199.8   (6,808.8)      675.4
MCDONALDS CORP    MCDEUR EU      46,199.8   (6,808.8)      675.4
MCDONALDS CORP    MDO GZ         46,199.8   (6,808.8)      675.4
MCDONALDS CORP    MCD AV         46,199.8   (6,808.8)      675.4
MCDONALDS CORP    MDO QT         46,199.8   (6,808.8)      675.4
MCDONALDS CORP    MCDUSD EU      46,199.8   (6,808.8)      675.4
MCDONALDS CORP    MDO TH         46,199.8   (6,808.8)      675.4
MCDONALDS CORP    MCD US         46,199.8   (6,808.8)      675.4
MCDONALDS CORP    MCD SW         46,199.8   (6,808.8)      675.4
MCDONALDS CORP    MDO GR         46,199.8   (6,808.8)      675.4
MCDONALDS CORP    MCD* MM        46,199.8   (6,808.8)      675.4
MCDONALDS CORP    MCD TE         46,199.8   (6,808.8)      675.4
MCDONALDS-CEDEAR  MCDD AR        46,199.8   (6,808.8)      675.4
MCDONALDS-CEDEAR  MCD AR         46,199.8   (6,808.8)      675.4
MERCER PARK BR-A  MRCQF US          407.1      (18.8)        4.1
MERCER PARK BR-A  BRND/A/U CN       407.1      (18.8)        4.1
MICHAELS COS INC  MIKEUR EU       3,707.1   (1,587.6)      289.9
MICHAELS COS INC  MIK US          3,707.1   (1,587.6)      289.9
MICHAELS COS INC  MIM GR          3,707.1   (1,587.6)      289.9
MONEYGRAM INTERN  9M1N TH         4,383.6     (236.7)     (129.5)
MONEYGRAM INTERN  MGIEUR EU       4,383.6     (236.7)     (129.5)
MONEYGRAM INTERN  MGIUSD EU       4,383.6     (236.7)     (129.5)
MONEYGRAM INTERN  9M1N QT         4,383.6     (236.7)     (129.5)
MONEYGRAM INTERN  MGI US          4,383.6     (236.7)     (129.5)
MONEYGRAM INTERN  9M1N GR         4,383.6     (236.7)     (129.5)
MOTOROLA SOL-CED  MSI AR          9,974.0     (954.0)      955.0
MOTOROLA SOLUTIO  MSI1EUR EU      9,974.0     (954.0)      955.0
MOTOROLA SOLUTIO  MTLA GZ         9,974.0     (954.0)      955.0
MOTOROLA SOLUTIO  MSI1USD EU      9,974.0     (954.0)      955.0
MOTOROLA SOLUTIO  MTLA QT         9,974.0     (954.0)      955.0
MOTOROLA SOLUTIO  MTLA GR         9,974.0     (954.0)      955.0
MOTOROLA SOLUTIO  MOT TE          9,974.0     (954.0)      955.0
MOTOROLA SOLUTIO  MSI US          9,974.0     (954.0)      955.0
MOTOROLA SOLUTIO  MTLA TH         9,974.0     (954.0)      955.0
MSCI INC          3HM QT          3,425.1     (231.8)      556.1
MSCI INC          MSCI* MM        3,425.1     (231.8)      556.1
MSCI INC          3HM GR          3,425.1     (231.8)      556.1
MSCI INC          MSCI US         3,425.1     (231.8)      556.1
MSG NETWORKS- A   1M4 QT            866.9     (458.8)      216.9
MSG NETWORKS- A   MSGNEUR EU        866.9     (458.8)      216.9
MSG NETWORKS- A   1M4 GR            866.9     (458.8)      216.9
MSG NETWORKS- A   1M4 TH            866.9     (458.8)      216.9
MSG NETWORKS- A   MSGN US           866.9     (458.8)      216.9
N/A               BJEUR EU        5,152.1     (164.6)     (345.8)
N/A               LX31 GZ           233.1      (64.9)      100.0
NATHANS FAMOUS    NATHEUR EU        105.0      (65.1)       76.5
NATHANS FAMOUS    NATH US           105.0      (65.1)       76.5
NATHANS FAMOUS    NFA GR            105.0      (65.1)       76.5
NATIONAL CINEMED  NCMIEUR EU      1,104.0     (110.5)       99.8
NATIONAL CINEMED  NCMI US         1,104.0     (110.5)       99.8
NATIONAL CINEMED  XWM GR          1,104.0     (110.5)       99.8
NAVISTAR INTL     IHR QT          7,294.0   (3,660.0)    1,521.0
NAVISTAR INTL     IHR GZ          7,294.0   (3,660.0)    1,521.0
NAVISTAR INTL     NAVEUR EU       7,294.0   (3,660.0)    1,521.0
NAVISTAR INTL     NAVUSD EU       7,294.0   (3,660.0)    1,521.0
NAVISTAR INTL     IHR GR          7,294.0   (3,660.0)    1,521.0
NAVISTAR INTL     NAV US          7,294.0   (3,660.0)    1,521.0
NAVISTAR INTL     IHR TH          7,294.0   (3,660.0)    1,521.0
NEW ENG RLTY-LP   NEN US            244.5      (38.0)        -
NOTOX TECHNOLOGI  NTOX US             0.7       (1.5)       (2.0)
NOVAVAX INC       NVAX US           189.4     (185.5)       68.7
NOVAVAX INC       NVAXUSD EU        189.4     (185.5)       68.7
NRC GROUP HOLDIN  NRCG US           421.3      (42.4)       23.1
NRG ENERGY        NRGEUR EU       9,171.0   (1,629.0)      751.0
NRG ENERGY        NRA QT          9,171.0   (1,629.0)      751.0
NRG ENERGY        NRA TH          9,171.0   (1,629.0)      751.0
NRG ENERGY        NRG US          9,171.0   (1,629.0)      751.0
NRG ENERGY        NRA GR          9,171.0   (1,629.0)      751.0
OMEROS CORP       OMERUSD EU         89.8     (130.3)       25.3
OMEROS CORP       3O8 TH             89.8     (130.3)       25.3
OMEROS CORP       OMEREUR EU         89.8     (130.3)       25.3
OMEROS CORP       OMER US            89.8     (130.3)       25.3
OMEROS CORP       3O8 GR             89.8     (130.3)       25.3
OPTION CARE HEAL  MM6 QT            600.6      (75.2)       61.5
OPTION CARE HEAL  BIOSEUR EU        600.6      (75.2)       61.5
OPTION CARE HEAL  BIOS US           600.6      (75.2)       61.5
OPTION CARE HEAL  MM6 GR            600.6      (75.2)       61.5
OPTION CARE HEAL  BIOSUSD EU        600.6      (75.2)       61.5
OPTIVA INC        RKNEUR EU         123.6      (21.4)       26.2
OPTIVA INC        RE6 GR            123.6      (21.4)       26.2
OPTIVA INC        OPT CN            123.6      (21.4)       26.2
OPTIVA INC        RKNEF US          123.6      (21.4)       26.2
OPTIVA INC        3230510Q EU       123.6      (21.4)       26.2
PAPA JOHN'S INTL  PZZAEUR EU        726.6      (60.6)      (17.4)
PAPA JOHN'S INTL  PP1 GZ            726.6      (60.6)      (17.4)
PAPA JOHN'S INTL  PZZA US           726.6      (60.6)      (17.4)
PAPA JOHN'S INTL  PP1 GR            726.6      (60.6)      (17.4)
PHILIP MORRI-BDR  PHMO34 BZ      39,923.0   (9,409.0)     (883.0)
PHILIP MORRIS IN  4I1 GZ         39,923.0   (9,409.0)     (883.0)
PHILIP MORRIS IN  PMOR AV        39,923.0   (9,409.0)     (883.0)
PHILIP MORRIS IN  PM* MM         39,923.0   (9,409.0)     (883.0)
PHILIP MORRIS IN  4I1 QT         39,923.0   (9,409.0)     (883.0)
PHILIP MORRIS IN  PMIZ IX        39,923.0   (9,409.0)     (883.0)
PHILIP MORRIS IN  PMIZ EB        39,923.0   (9,409.0)     (883.0)
PHILIP MORRIS IN  4I1 GR         39,923.0   (9,409.0)     (883.0)
PHILIP MORRIS IN  PM US          39,923.0   (9,409.0)     (883.0)
PHILIP MORRIS IN  PM1 EU         39,923.0   (9,409.0)     (883.0)
PHILIP MORRIS IN  PM1CHF EU      39,923.0   (9,409.0)     (883.0)
PHILIP MORRIS IN  PM1 TE         39,923.0   (9,409.0)     (883.0)
PHILIP MORRIS IN  4I1 TH         39,923.0   (9,409.0)     (883.0)
PHILIP MORRIS IN  PM1EUR EU      39,923.0   (9,409.0)     (883.0)
PHILIP MORRIS IN  PMI SW         39,923.0   (9,409.0)     (883.0)
PLANET FITNESS-A  3PL QT          1,523.5     (314.4)      298.7
PLANET FITNESS-A  PLNT1EUR EU     1,523.5     (314.4)      298.7
PLANET FITNESS-A  PLNT1USD EU     1,523.5     (314.4)      298.7
PLANET FITNESS-A  PLNT US         1,523.5     (314.4)      298.7
PLANET FITNESS-A  3PL TH          1,523.5     (314.4)      298.7
PLANET FITNESS-A  3PL GR          1,523.5     (314.4)      298.7
PRIORITY TECHNOL  PRTH US           460.3     (100.6)        2.5
PURPLE INNOVATIO  PRPL US            99.7       (3.4)       17.7
QUANTUM CORP      QTM1EUR EU        172.1     (202.5)      (27.1)
QUANTUM CORP      QNT2 GR           172.1     (202.5)      (27.1)
QUANTUM CORP      QMCO US           172.1     (202.5)      (27.1)
RADIUS HEALTH IN  RDUSUSD EU        244.3       (0.1)      175.1
RADIUS HEALTH IN  1R8 TH            244.3       (0.1)      175.1
RADIUS HEALTH IN  RDUSEUR EU        244.3       (0.1)      175.1
RADIUS HEALTH IN  1R8 QT            244.3       (0.1)      175.1
RADIUS HEALTH IN  RDUS US           244.3       (0.1)      175.1
RADIUS HEALTH IN  1R8 GR            244.3       (0.1)      175.1
REATA PHARMACE-A  2R3 GR            300.5      (33.5)      219.5
REATA PHARMACE-A  RETAEUR EU        300.5      (33.5)      219.5
REATA PHARMACE-A  RETA US           300.5      (33.5)      219.5
RECRO PHARMA INC  RAH GR            161.8      (18.7)       65.0
RECRO PHARMA INC  REPH US           161.8      (18.7)       65.0
REVLON INC-A      REVEUR EU       3,066.0   (1,187.2)      (33.9)
REVLON INC-A      RVL1 TH         3,066.0   (1,187.2)      (33.9)
REVLON INC-A      REVUSD EU       3,066.0   (1,187.2)      (33.9)
REVLON INC-A      REV US          3,066.0   (1,187.2)      (33.9)
REVLON INC-A      RVL1 GR         3,066.0   (1,187.2)      (33.9)
RH                RS1 GR          2,387.8     (177.9)     (267.3)
RH                RHEUR EU        2,387.8     (177.9)     (267.3)
RH                RH US           2,387.8     (177.9)     (267.3)
RH                RH* MM          2,387.8     (177.9)     (267.3)
RIMINI STREET IN  RMNI US           139.7     (130.2)     (104.8)
ROSETTA STONE IN  RST1EUR EU        181.5       (9.4)      (71.2)
ROSETTA STONE IN  RST US            181.5       (9.4)      (71.2)
ROSETTA STONE IN  RS8 TH            181.5       (9.4)      (71.2)
ROSETTA STONE IN  RS8 GR            181.5       (9.4)      (71.2)
RR DONNELLEY & S  RRDUSD EU       3,561.4     (270.8)      588.2
SALLY BEAUTY HOL  SBHEUR EU       2,072.3      (70.5)      719.4
SALLY BEAUTY HOL  S7V GR          2,072.3      (70.5)      719.4
SALLY BEAUTY HOL  SBH US          2,072.3      (70.5)      719.4
SBA COMM CORP     SBJ TH          9,269.4   (3,339.3)   (1,112.4)
SBA COMM CORP     4SB GZ          9,269.4   (3,339.3)   (1,112.4)
SBA COMM CORP     SBAC US         9,269.4   (3,339.3)   (1,112.4)
SBA COMM CORP     4SB GR          9,269.4   (3,339.3)   (1,112.4)
SBA COMM CORP     SBACUSD EU      9,269.4   (3,339.3)   (1,112.4)
SBA COMM CORP     SBAC* MM        9,269.4   (3,339.3)   (1,112.4)
SBA COMM CORP     SBACEUR EU      9,269.4   (3,339.3)   (1,112.4)
SCIENTIFIC GAMES  SGMS US         7,932.0   (2,118.0)      852.0
SCIENTIFIC GAMES  SGMSUSD EU      7,932.0   (2,118.0)      852.0
SCIENTIFIC GAMES  TJW GR          7,932.0   (2,118.0)      852.0
SCIENTIFIC GAMES  TJW TH          7,932.0   (2,118.0)      852.0
SCIENTIFIC GAMES  TJW GZ          7,932.0   (2,118.0)      852.0
SEALED AIR CORP   SEE1EUR EU      5,216.5     (341.2)      (10.8)
SEALED AIR CORP   SDA TH          5,216.5     (341.2)      (10.8)
SEALED AIR CORP   SDA QT          5,216.5     (341.2)      (10.8)
SEALED AIR CORP   SEE US          5,216.5     (341.2)      (10.8)
SEALED AIR CORP   SDA GR          5,216.5     (341.2)      (10.8)
SERES THERAPEUTI  MCRB1EUR EU       146.1      (18.0)       65.9
SERES THERAPEUTI  MCRB US           146.1      (18.0)       65.9
SERES THERAPEUTI  1S9 GR            146.1      (18.0)       65.9
SHELL MIDSTREAM   SHLXUSD EU      2,004.0     (767.0)      279.0
SHELL MIDSTREAM   49M GR          2,004.0     (767.0)      279.0
SHELL MIDSTREAM   49M TH          2,004.0     (767.0)      279.0
SHELL MIDSTREAM   SHLX US         2,004.0     (767.0)      279.0
SINO UNITED WORL  SUIC US             0.1       (0.1)       (0.1)
SIRIUS XM HOLDIN  SIRIEUR EU     11,316.0     (489.0)   (2,182.0)
SIRIUS XM HOLDIN  RDO GZ         11,316.0     (489.0)   (2,182.0)
SIRIUS XM HOLDIN  SIRI AV        11,316.0     (489.0)   (2,182.0)
SIRIUS XM HOLDIN  SIRIUSD EU     11,316.0     (489.0)   (2,182.0)
SIRIUS XM HOLDIN  SIRI TE        11,316.0     (489.0)   (2,182.0)
SIRIUS XM HOLDIN  RDO QT         11,316.0     (489.0)   (2,182.0)
SIRIUS XM HOLDIN  SIRI US        11,316.0     (489.0)   (2,182.0)
SIRIUS XM HOLDIN  RDO GR         11,316.0     (489.0)   (2,182.0)
SIRIUS XM HOLDIN  RDO TH         11,316.0     (489.0)   (2,182.0)
SIX FLAGS ENTERT  SIX US          2,938.1     (204.4)      (66.6)
SIX FLAGS ENTERT  SIXEUR EU       2,938.1     (204.4)      (66.6)
SIX FLAGS ENTERT  SIXUSD EU       2,938.1     (204.4)      (66.6)
SIX FLAGS ENTERT  6FE GR          2,938.1     (204.4)      (66.6)
SLEEP NUMBER COR  SNBREUR EU        795.9     (157.3)     (433.9)
SLEEP NUMBER COR  SNBR US           795.9     (157.3)     (433.9)
SLEEP NUMBER COR  SL2 GR            795.9     (157.3)     (433.9)
SPIRIT MTA REIT   SMTA US         2,012.7      (24.6)        -
STARBUCKS CORP    SBUX US        20,894.4   (4,319.0)    1,839.0
STARBUCKS CORP    SBUX CI        20,894.4   (4,319.0)    1,839.0
STARBUCKS CORP    SBUXUSD SW     20,894.4   (4,319.0)    1,839.0
STARBUCKS CORP    SBUXUSD EU     20,894.4   (4,319.0)    1,839.0
STARBUCKS CORP    SRB GZ         20,894.4   (4,319.0)    1,839.0
STARBUCKS CORP    SBUX AV        20,894.4   (4,319.0)    1,839.0
STARBUCKS CORP    SBUXEUR EU     20,894.4   (4,319.0)    1,839.0
STARBUCKS CORP    SBUX TE        20,894.4   (4,319.0)    1,839.0
STARBUCKS CORP    SBUX IM        20,894.4   (4,319.0)    1,839.0
STARBUCKS CORP    SRB QT         20,894.4   (4,319.0)    1,839.0
STARBUCKS CORP    SBUX* MM       20,894.4   (4,319.0)    1,839.0
STARBUCKS CORP    SRB GR         20,894.4   (4,319.0)    1,839.0
STARBUCKS CORP    SRB TH         20,894.4   (4,319.0)    1,839.0
STARBUCKS CORP    SBUX SW        20,894.4   (4,319.0)    1,839.0
STARBUCKS-BDR     SBUB34 BZ      20,894.4   (4,319.0)    1,839.0
STARBUCKS-CEDEAR  SBUX AR        20,894.4   (4,319.0)    1,839.0
STEALTH BIOTHERA  S1BA GR            15.5     (175.3)      (27.3)
STEALTH BIOTHERA  MITO US            15.5     (175.3)      (27.3)
SUNPOWER CORP     SPWREUR EU      1,938.9      (96.6)      240.6
SUNPOWER CORP     SPWRUSD EU      1,938.9      (96.6)      240.6
SUNPOWER CORP     S9P2 GZ         1,938.9      (96.6)      240.6
SUNPOWER CORP     S9P2 QT         1,938.9      (96.6)      240.6
SUNPOWER CORP     SPWR US         1,938.9      (96.6)      240.6
SUNPOWER CORP     S9P2 TH         1,938.9      (96.6)      240.6
SUNPOWER CORP     S9P2 GR         1,938.9      (96.6)      240.6
SWITCHBACK ENE-A  SBE US              0.4       (0.0)       (0.3)
SWITCHBACK ENERG  SBE/U US            0.4       (0.0)       (0.3)
TAUBMAN CENTERS   TU8 GR          4,485.1     (324.0)        -
TAUBMAN CENTERS   TCO US          4,485.1     (324.0)        -
TRANSDIGM GROUP   T7D TH         17,702.6   (1,310.6)    4,030.6
TRANSDIGM GROUP   TDGUSD EU      17,702.6   (1,310.6)    4,030.6
TRANSDIGM GROUP   T7D QT         17,702.6   (1,310.6)    4,030.6
TRANSDIGM GROUP   TDGEUR EU      17,702.6   (1,310.6)    4,030.6
TRANSDIGM GROUP   TDG* MM        17,702.6   (1,310.6)    4,030.6
TRANSDIGM GROUP   TDG US         17,702.6   (1,310.6)    4,030.6
TRANSDIGM GROUP   T7D GR         17,702.6   (1,310.6)    4,030.6
TRIUMPH GROUP     TGIEUR EU       2,823.3     (557.9)      208.3
TRIUMPH GROUP     TG7 GR          2,823.3     (557.9)      208.3
TRIUMPH GROUP     TGI US          2,823.3     (557.9)      208.3
TUPPERWARE BRAND  TUP GZ          1,428.5     (163.1)     (110.8)
TUPPERWARE BRAND  TUP TH          1,428.5     (163.1)     (110.8)
TUPPERWARE BRAND  TUP1EUR EU      1,428.5     (163.1)     (110.8)
TUPPERWARE BRAND  TUP1USD EU      1,428.5     (163.1)     (110.8)
TUPPERWARE BRAND  TUP SW          1,428.5     (163.1)     (110.8)
TUPPERWARE BRAND  TUP QT          1,428.5     (163.1)     (110.8)
TUPPERWARE BRAND  TUP US          1,428.5     (163.1)     (110.8)
TUPPERWARE BRAND  TUP GR          1,428.5     (163.1)     (110.8)
UNISYS CORP       USY1 GZ         2,507.8   (1,213.7)      334.1
UNISYS CORP       USY1 QT         2,507.8   (1,213.7)      334.1
UNISYS CORP       UISCHF EU       2,507.8   (1,213.7)      334.1
UNISYS CORP       UIS EU          2,507.8   (1,213.7)      334.1
UNISYS CORP       USY1 GR         2,507.8   (1,213.7)      334.1
UNISYS CORP       USY1 TH         2,507.8   (1,213.7)      334.1
UNISYS CORP       UIS US          2,507.8   (1,213.7)      334.1
UNISYS CORP       UIS1 SW         2,507.8   (1,213.7)      334.1
UNISYS CORP       UISEUR EU       2,507.8   (1,213.7)      334.1
UNITI GROUP INC   CSALUSD EU      4,790.4   (1,401.8)        -
UNITI GROUP INC   8XC TH          4,790.4   (1,401.8)        -
UNITI GROUP INC   8XC GR          4,790.4   (1,401.8)        -
UNITI GROUP INC   UNIT US         4,790.4   (1,401.8)        -
VALVOLINE INC     0V4 GR          2,000.0     (252.0)      389.0
VALVOLINE INC     VVVEUR EU       2,000.0     (252.0)      389.0
VALVOLINE INC     0V4 QT          2,000.0     (252.0)      389.0
VALVOLINE INC     VVV US          2,000.0     (252.0)      389.0
VECTOR GROUP LTD  VGREUR EU       1,455.2     (606.7)       80.4
VECTOR GROUP LTD  VGRUSD EU       1,455.2     (606.7)       80.4
VECTOR GROUP LTD  VGR TH          1,455.2     (606.7)       80.4
VECTOR GROUP LTD  VGR QT          1,455.2     (606.7)       80.4
VECTOR GROUP LTD  VGR US          1,455.2     (606.7)       80.4
VECTOR GROUP LTD  VGR GR          1,455.2     (606.7)       80.4
VERISIGN INC      VRSNEUR EU      1,889.9   (1,425.2)      360.7
VERISIGN INC      VRS GZ          1,889.9   (1,425.2)      360.7
VERISIGN INC      VRSN* MM        1,889.9   (1,425.2)      360.7
VERISIGN INC      VRSNUSD EU      1,889.9   (1,425.2)      360.7
VERISIGN INC      VRS QT          1,889.9   (1,425.2)      360.7
VERISIGN INC      VRS TH          1,889.9   (1,425.2)      360.7
VERISIGN INC      VRSN US         1,889.9   (1,425.2)      360.7
VERISIGN INC      VRS GR          1,889.9   (1,425.2)      360.7
W&T OFFSHORE INC  WTI1EUR EU        867.8     (335.0)       43.5
W&T OFFSHORE INC  WTI1USD EU        867.8     (335.0)       43.5
W&T OFFSHORE INC  UWV TH            867.8     (335.0)       43.5
W&T OFFSHORE INC  UWV SW            867.8     (335.0)       43.5
W&T OFFSHORE INC  WTI US            867.8     (335.0)       43.5
W&T OFFSHORE INC  UWV GR            867.8     (335.0)       43.5
WAYFAIR INC- A    1WF QT          2,182.1     (605.4)     (276.6)
WAYFAIR INC- A    1WF GR          2,182.1     (605.4)     (276.6)
WAYFAIR INC- A    WEUR EU         2,182.1     (605.4)     (276.6)
WAYFAIR INC- A    W US            2,182.1     (605.4)     (276.6)
WEIGHT WATCHERS   WW6 GZ          1,476.3     (766.4)      (66.1)
WEIGHT WATCHERS   WTWUSD EU       1,476.3     (766.4)      (66.1)
WEIGHT WATCHERS   WTW AV          1,476.3     (766.4)      (66.1)
WEIGHT WATCHERS   WTWEUR EU       1,476.3     (766.4)      (66.1)
WEIGHT WATCHERS   WW6 QT          1,476.3     (766.4)      (66.1)
WEIGHT WATCHERS   WW US           1,476.3     (766.4)      (66.1)
WEIGHT WATCHERS   WW6 GR          1,476.3     (766.4)      (66.1)
WEIGHT WATCHERS   WW6 TH          1,476.3     (766.4)      (66.1)
WIDEOPENWEST INC  WOW US          2,458.9     (280.8)     (108.7)
WIDEOPENWEST INC  WU5 QT          2,458.9     (280.8)     (108.7)
WIDEOPENWEST INC  WOW1EUR EU      2,458.9     (280.8)     (108.7)
WIDEOPENWEST INC  WU5 GR          2,458.9     (280.8)     (108.7)
WIDEOPENWEST INC  WU5 TH          2,458.9     (280.8)     (108.7)
WIDEOPENWEST INC  WOW1USD EU      2,458.9     (280.8)     (108.7)
WINGSTOP INC      WING1EUR EU       150.0     (216.4)        9.6
WINGSTOP INC      WING US           150.0     (216.4)        9.6
WINGSTOP INC      EWG GR            150.0     (216.4)        9.6
WINMARK CORP      WINA US            46.2      (13.8)        9.1
WINMARK CORP      GBZ GR             46.2      (13.8)        9.1
WORKHORSE GROUP   WKHS US            35.7      (45.0)      (26.2)
WORKHORSE GROUP   WKHSUSD EU         35.7      (45.0)      (26.2)
WYNDHAM DESTINAT  WYNUSD EU       7,466.0     (560.0)      335.0
WYNDHAM DESTINAT  WYNEUR EU       7,466.0     (560.0)      335.0
WYNDHAM DESTINAT  WD5 QT          7,466.0     (560.0)      335.0
WYNDHAM DESTINAT  WYND US         7,466.0     (560.0)      335.0
WYNDHAM DESTINAT  WD5 GR          7,466.0     (560.0)      335.0
WYNDHAM DESTINAT  WD5 TH          7,466.0     (560.0)      335.0
YELLOW PAGES LTD  Y CN              334.0      (94.9)       40.9
YELLOW PAGES LTD  YLWDF US          334.0      (94.9)       40.9
YELLOW PAGES LTD  YMI GR            334.0      (94.9)       40.9
YELLOW PAGES LTD  YEUR EU           334.0      (94.9)       40.9
YRC WORLDWIDE IN  YRCWUSD EU      1,907.3     (370.1)      (19.5)
YUM! BRANDS INC   YUM US          4,674.0   (7,994.0)      (64.0)
YUM! BRANDS INC   YUMUSD SW       4,674.0   (7,994.0)      (64.0)
YUM! BRANDS INC   YUMUSD EU       4,674.0   (7,994.0)      (64.0)
YUM! BRANDS INC   TGR GZ          4,674.0   (7,994.0)      (64.0)
YUM! BRANDS INC   YUM AV          4,674.0   (7,994.0)      (64.0)
YUM! BRANDS INC   TGR TE          4,674.0   (7,994.0)      (64.0)
YUM! BRANDS INC   YUM* MM         4,674.0   (7,994.0)      (64.0)
YUM! BRANDS INC   YUMEUR EU       4,674.0   (7,994.0)      (64.0)
YUM! BRANDS INC   TGR QT          4,674.0   (7,994.0)      (64.0)
YUM! BRANDS INC   YUM SW          4,674.0   (7,994.0)      (64.0)
YUM! BRANDS INC   TGR TH          4,674.0   (7,994.0)      (64.0)
YUM! BRANDS INC   TGR GR          4,674.0   (7,994.0)      (64.0)



                            *********

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
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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
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Each Friday's edition of the TCR includes a review about a book of
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available at your local bookstore or through Amazon.com.  Go to
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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
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors.

Copyright 2019.  All rights reserved.  ISSN: 1520-9474.

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                   *** End of Transmission ***