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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

              Friday, November 29, 2019, Vol. 23, No. 332

                            Headlines

8TH AVENUE FOOD: S&P Lowers ICR to 'B-'; Outlook Stable
ABR BUILDERS: Files Amended Plan Outline Dated Nov. 19
ABR BUILDERS: Files Redlined Disclosure Statement Dated Nov. 3
ACCEL CANADA: Files for Bankruptcy Protection Under CCAA
AHEAD DB BORROWER: Moody's Affirms B2 CFR, Outlook Stable

ALL CARE NOW: Case Summary & 9 Unsecured Creditors
ANNA HOLDINGS: To Present Prepackaged Plan to Court in December
ARLEN HOUSE: Association Objects to Disclosure Statement
ASPEN LANDSCAPING: Court Grants Emergency $200K DIP Request
ASPEN LANDSCAPING: Court Grants Interim Cash Collateral Access

BARLEY FORGE: Gets Interim, Final OK to Use Cash Thru Dec. 31
BCP RENAISSANCE: Fitch Affirms BB- Debt Rating, Outlook Stable
BIBB COUNTY HEALTH CARE: S&P Lowers Revenue Bond Rating to 'BB'
BIBB COUNTY HEALTH CARE: S&P Reinstates Series 2016 BB Bond Rating
BODY BY PASTRAMI: May Use Cash Collateral Thru Dec. 15

BRAZOS DELAWARE II: Fitch Affirms B- IDR & Alters Outlook to Neg.
BUMBLE BEE: Canadian Unit Clover Leaf Seeks Protection Under CCAA
CALIFORNIA PIZZA: S&P Cuts ICR to CCC- on Risk Of Covenant Breach
CBAC BORROWER: S&P Alters Outlook to Negative, Affirms 'B-' ICR
CBAK ENERGY: Incurs $1.8 Million Net Loss in Third Quarter

CBAK ENERGY: Stockholders Elect Five Directors
CBAK ENERGY: Wenwu Wang Quits as Dalian CBAK's General Manager
CECCHI GORI: Seeks to Hire Bird & Bird LLP as Special Counsel
COMMUNITY HEALTH SYSTEMS: S&P Raises ICR to 'CCC+', Outlook Neg.
COMMUNITY HEALTH: Issues $699.9M Secured & $1.7B Unsecured Notes

COVIA HOLDINGS: Moody's Cuts CFR to B3 & Alters Outlook to Stable
COWBOY PUMPING: Seeks Authority to Use Interbank Cash Collateral
CPI CARD: Will Appeal Nasdaq Delisting Decision
CREATIVE GLOBAL: Seeks to Obtain $20K of Unsecured Debt from CEO
D & M LOGISTICS: Seeks Permission to Use Cash Collateral

DAYTON PORT: S&P Suspends 'B+' LT Rating on 2016A Revenue Bonds
DPL INC: S&P Cuts Issuer Credit Rating to 'BB'; Outlook Negative
ELK CITY LODGING: Gets Interim Access to Cash Thru Jan. 2020
EMPORIA PROPERTY: Committee Taps Sandberg Phoenix as Legal Counsel
ENTERPRISE CHARTER: Fitch Affirms B+ Rating on $6.4MM 2011A Bonds

EP ENERGY: Seeks Court Approval of Backstop Agreement to Fund Plan
EVEN STEVENS: Examiner Taps Kotzin Valuation as Assistant
EVEN STEVENS: Examiner Taps Polsinelli PC as Legal Counsel
EVOLUTION ACADEMY CHARTER SCHOOL: S&P Ups Rev. Bonds Rating to 'B'
EXELA TECHNOLOGIES: S&P Lowers ICR to CCC-; Outlook Negative

F & T SPIRITS: Case Summary & 20 Largest Unsecured Creditors
FOREVER 21: Claim Filing Deadline Set for January 2020
FOX SUBACUTE: Hires Cunningham Chernicoff as Counsel
FTS INTERNATIONAL: S&P Cuts ICR to 'CCC+' on Steep Revenue Decline
GALVESTON BAY PROPERTIES: Gets Interim Access to $400K of DIP Loans

GALVESTON BAY PROPERTIES: May Use Cash Collateral on Interim Basis
GREENWOOD VETERINARY: Osipov Bigelman Tapped as Counsel
GRIFFIN HEALTH: S&P Rates $62.5MM Series G Revenue Bonds 'BB+'
H.R.H.C.C. INC: Court Resets Final Hearing to Dec. 9
H.R.H.C.C. INC: Gets Interim Approval to Use Cash Collateral

H.R.H.C.C. INC: May Use Cash, Must File Plan 180 Days from Filing
HAIFA LLC: Seeks to Hire Galloway Wettermark as Legal Counsel
HANNAH SOLAR: Gets Final Approval on Cash Collateral Request
HILDA KARAMOUZ: Cordish Power's Corp. Disclosure Statement Filed
HOME HEALTH: Case Summary & 16 Unsecured Creditors

HRI HOLDING: Seeks OK on $5M DIP Loan, Gets Interim Nod for $3.2M
HUDSON'S BAY CO: S&P Discontinues 'B' Long-Term ICR
IMPORT SPECIALTIES: May Use Charter Bank Cash Thru Jan. 5, 2020
INTERIM HEALTHCARE: Seeks to Hire Lugenbuhl Wheaton as Counsel
IPC CORP: S&P Raises Issuer Credit Rating to 'CCC+'; Outlook Neg.

IRON COUNTY HOSPITAL: USA Objects to Amended Disclosure Statement
J-H-J INC: Has Court Nod to Use Cash thru Dec. 17 Hearing
J.D. BEAVERS: Seeks to Use Cash Collateral, Gets Interim Nod
JAGGED PEAK: Committee Seeks to Hire Brown Rudnick as Legal Counsel
JAGGED PEAK: Committee Taps Dundon Advisers as Financial Advisor

JLS ACADEMY: Plan Payments to be Funded by Continued Operations
LIQUIDNET HOLDINGS: S&P Alters Outlook to Neg., Affirms BB- ICR
LITESTREAM HOLDINGS: Case Summary & 20 Largest Unsecured Creditors
LONGHORN SERVICE: Allowed to Use Cash Collateral Until Jan. 2
LTI HOLDINGS: S&P Alters Outlook to Negative, Affirms 'B-' ICR

MIRAGE DENTAL: Estimated 100% Recovery for Unsecureds Under Plan
MMMT CORPORATION: Court Grants Final OK on Cash Collateral Motion
MWM OIL: Eron Law Represents Jerry Botts & 3 Others
NAVAHO TOUR: May Use Cash Collateral Thru March 5, 2020
OPTIMUM INVESTMENT: Hires Riggi Law Firm as Bankruptcy Counsel

P.P.S. TRUCKING: Wants to Continue Using Interbank Cash Collateral
PALMDALE AEROSPACE ACADEMY: S&P Puts 'BB' Bond Rating on Watch Neg.
PALMER-TECH SERVICES: Court Denies Motion to Use Cash Thru Sept. 28
PALMER-TECH SERVICES: PNC Bank Wins Objection to Cash Request
PHX INVESTMENT: Case Summary & 10 Unsecured Creditors

PIONEER UK: S&P Affirms 'B' ICR, Alters Outlook to Negative
PRA HEALTH: S&P Rates New $1.75BB Senior Credit Facility 'BB'
PRECIPIO INC: COO Adopts Stock Trading Plan to Buy Common Stock
PROVIDENT FUNDING 2019-1: Moody's Rates Class B-5 Debt (P)Ba3
RAIT FUNDING: Stevens & Lee Files 1st Update on Equity Holders

RAIT FUNDING: Stevens & Lee Files 2nd Update on Equity Holders
RIVOLI & RIVOLI: Seeks to Use Cash Collateral Thru March 2020
RODAN & FIELDS: S&P Cuts ICR to 'CCC+' on Revenue, Profit Decline
RON'S EXCAVATING: Has Continued Cash Access Thru Feb. 2020
RONNA'S RUFF: Case Summary & 20 Largest Unsecured Creditors

SAFE HARBOR: Seeks $332,500 of Secured Financing from Holding Co.
SELECT MEDICAL: Moody's Affirms B1 CFR, Outlook Stable
SEPCO CORPORATION: Taps Bernstein-Burkley as New Counsel
SHEET METAL: Has Court OK to Use Cash Collateral Thru Dec. 5
SHEET METAL: Seeks Authorization to Use Cash Collateral

STERLING INTERMEDIATE: S&P Alters Outlook to Stable, Affirms B ICR
TARRANT COUNTY SENIOR: Seeks to Hire Ankura, Appoint CRO
TAYLOR SMITH: Case Summary & 9 Unsecured Creditors
TECHNIPLAS LLC: Moody's Withdraws Caa1 CFR on Insufficient Info
TEEKAY CORP: S&P Cuts Senior Unsecured 8.5% Notes Rating to 'B-'

THERXSERVICES INC: Taps Myers & Wright as Accountant
TREESIDE CHARTER SCHOOL: Seeks Court Approval to Hire Consultant
TREESIDE CHARTER SCHOOL: Taps Lear & Lear as Special Counsel
TRUCKING AND CONTRACTING: Seeks OK to Continue to Employ Counsel
US GC INVESTMENT: Taps Peter C. Bronstein as Special Counsel

US SHIPPING: S&P Affirms 'B-' Issuer Credit Rating; Outlook Neg.
Z & J LLC: Seeks to Hire Mazzola Lindstrom as Special Counsel
[^] BOOK REVIEW: The Sorcerer's Apprentice - Medical Miracles

                            *********

8TH AVENUE FOOD: S&P Lowers ICR to 'B-'; Outlook Stable
-------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on 8th Avenue
Food and Provisions Inc. to 'B-' from 'B' to reflect its estimated
leverage levels remaining near 9x through fiscal 2020.

Subsequently, S&P is lowering its issue-level ratings on the $150
million secured revolving credit facility due in 2023 and $525
million first-lien term loan due in 2025 to 'B-' from 'B' and $100
million second-lien term loan due 2026 to 'CCC' from 'CCC+'.

The downgrade to 'B-' reflects S&P's view that leverage will remain
elevated near 9x (pro forma for recent transactions) stemming from
operational challenges that occurred in 2019.  Leverage increased
above 9.5x in 2019 largely driven by underperformance in the
company's dry pasta segment. Manufacturing inefficiencies led to
order fill rates falling below industry standards. In addition, the
segment was hit with weather affecting supply chain routes. S&P
expects this to turn around in 2020 because service levels have
returned to historical levels. But given the company's significant
debt burden (including $250 million of preferred stock treated as
debt), S&P believes it will take some time to reduce leverage back
to the 7x-8x range the rating agency originally anticipated for a
'B' issuer credit rating.

The stable outlook reflects S&P's expectation for the company to
increase revenues in the mid-single-digit area in 2020, leading to
leverage just under 9x. The rating agency expects the company to
generate at least $20 million of free operating cash flow while
maintaining EBITDA cash interest coverage over 2x.

"We could lower the ratings if we believed the company's capital
structure were unsustainable. A scenario whereby this could occur
is if EBITDA declines by 50%, leading to EBITDA to cash interest
coverage below 1.2x, possibly constrained liquidity or negative
free operating cash flow," S&P said.

"We could raise the ratings if the company reduced leverage to 8x
or below while maintaining EBITDA to cash interest coverage of
2.5x. Under this scenario, the company needs to demonstrate that
the pasta business has stabilized and that its core nut butter
business is growing, leading to better profitability whereby we
expect leverage, including preferred stock, to be 8x or below," S&P
said, adding that this could also occur if the company permanently
reduces its current debt balances. In addition, S&P would expect
the company to demonstrate less aggressive financial policies.


ABR BUILDERS: Files Amended Plan Outline Dated Nov. 19
------------------------------------------------------
Debtor ABR Builders LLC filed with the U.S. Bankruptcy Court for
the Southern District of New York a first amended disclosure
statement describing its plan of reorganization dated November 19,
2019.

The holders of Allowed general unsecured claims shall be paid their
pro-rata share of the balance of a Pot in annual installments for
four (4) years after the Effective Date in full satisfaction of
such claims. Initially, payments shall be made on a worst-case
basis (1.5% of the Principal Balance of an Allowed Class 4 claim as
identified in the Disclosure Statement) and shall be adjusted as
pending matters such as objections and determination of claims are
made and the assets deposited into the Pot are quantified.

Ownership interests shall retain their equity interest in the
Debtor and, in addition, shall receive a discharge of all claims
asserted against the ownership interest arising from or related to,
or the guaranty of, the claims against the Debtor of the Plan in
consideration for the payment to the Debtor by such ownership
interest of a total of $200,000 payable in four annual payments of
$50,000 each commencing 15 days before the First Anniversary of the
Effective Date for a period of four (4) years up through the fourth
year after the Effective Date.

The initial Plan payment due on Confirmation is to be funded, a
portion of the $80,000 settlement proceeds of the Debtor’s
settlement with DMC, by Boleslav Ryzinski and Lukas Macniak.

All creditors with Allowed claims shall be paid their claims from
the Pot in waterfall fashion. Class 4 creditors shall share, on a
pro-rata basis, in the Pot balance remaining after the non-Class 4
creditors are paid. All distributions may be pre-paid without
penalty.

The Pot shall be funded through a combination of (a) principals
payment of $200,000 ($100,000 each) over 4 years, each installment
being $50,000 each, commencing 15 days before the first anniversary
of the Effective Date up through 4 years after the Effective Date,
(b) an installment payment by the Debtor of $450,000 to be paid
from Net Income of the Debtor’s operations payable over four (4)
annual installments of $112,500, each year, commencing 15 days
before one (1) year after the Effective Date and continuing until
15 days before (4) years after the Effective Date, and (c) the net
proceeds whether by collection, recovery or settlement of the
litigation with 1143 Fifth, LLC.

A full-text copy of the Amended Disclosure Statement is available
at https://tinyurl.com/rfyvz9h from PacerMonitor.com at no charge.

The Debtor is represented by:

Leo Fox, Esq.
Attorney for Debtor
630 Third Avenue, 18th Floor
New York, New York 10017
(212) 867-9595
leo@leofoxlaw.com

           About ABR Builders

ABR Builders -- http://abrbuilders.com-- is a general contractor
serving New York City and the adjoining areas.  Since its founding
in 1995, the Company has constructed high-end residential houses
and commercial projects such as private medical clinics. ABR
manufactures all custom architectural, structural, and interior
components through its in-house resources. At the time of filing,
the estimated assets and debts are $1 million to $10 million.

ABR Builders LLC sought Chapter 11 protection (Bankr. S.D.N.Y. Case
No. 19-11041) on April 4, 2019. The Debtor was estimated to have $1
million to $10 million in assets and liabilities as of the
bankruptcy filing. Leo Fox, Esq., in New York, serves as counsel to
the Debtor.


ABR BUILDERS: Files Redlined Disclosure Statement Dated Nov. 3
--------------------------------------------------------------
Debtor ABR Builders LLC filed with the U.S. Bankruptcy Court for
the Southern District of New York a first amended disclosure
statement describing its plan of reorganization dated November 3,
2019.

The holders of Allowed general unsecured claims shall be paid their
pro-rata share of the balance of a Pot in annual installments for
four (4) years after the Effective Date in full satisfaction of
such claims. Initially, payments shall be made on a worst-case
basis (1.5% of the Principal Balance of an Allowed Class 4 claim as
identified in the Disclosure Statement) and shall be adjusted as
pending matters such as objections and determination of claims are
made and the assets deposited into the Pot are quantified.

Ownership interests shall retain their equity interest in the
Debtor and, in addition, shall receive a discharge of all claims
asserted against the ownership interest arising from or related to,
or the guaranty of, the claims against the Debtor of the Plan in
consideration for the payment to the Debtor by such ownership
interest of a total of $200,000 payable in four annual payments of
$50,000 each commencing 15 days before the First Anniversary of the
Effective Date for a period of four (4) years up through the fourth
year after the Effective Date.

The initial Plan payment due on Confirmation is to be funded, a
portion of the $80,000 settlement proceeds of the Debtor’s
settlement with DMC, by Boleslav Ryzinski and Lukas Macniak.

All creditors with Allowed claims shall be paid their claims from
the Pot in waterfall fashion. Class 4 creditors shall share, on a
pro-rata basis, in the Pot balance remaining after the non-Class 4
creditors are paid. All distributions may be pre-paid without
penalty.

The Pot shall be funded through a combination of (a) principals
payment of $200,000 ($100,000 each) over 4 years, each installment
being $50,000 each, commencing 15 days before the first anniversary
of the Effective Date up through 4 years after the Effective Date,
(b) an installment payment by the Debtor of $450,000 to be paid
from Net Income of the Debtor’s operations payable over four (4)
annual installments of $112,500, each year, commencing 15 days
before one (1) year after the Effective Date and continuing until
15 days before (4) years after the Effective Date, and (c) the net
proceeds whether by collection, recovery or settlement of the
litigation with 1143 Fifth, LLC.

A redlined copy of the amended disclosure is available at
https://tinyurl.com/w3akj2w from PacerMonitor.com at no charge.

The Debtor is represented by:
Leo Fox, Esq.
Attorney for Debtor
630 Third Avenue, 18th Floor
New York, New York 10017
(212) 867-9595
leo@leofoxlaw.com

           About ABR Builders

ABR Builders -- http://abrbuilders.com-- is a general contractor
serving New York City and the adjoining areas.  Since its founding
in 1995, the Company has constructed high-end residential houses
and commercial projects such as private medical clinics. ABR
manufactures all custom architectural, structural, and interior
components through its in-house resources. At the time of filing,
the estimated assets and debts are $1 million to $10 million.

ABR Builders LLC sought Chapter 11 protection (Bankr. S.D.N.Y. Case
No. 19-11041) on April 4, 2019. The Debtor was estimated to have $1
million to $10 million in assets and liabilities as of the
bankruptcy filing. Leo Fox, Esq., in New York, serves as counsel to
the Debtor.


ACCEL CANADA: Files for Bankruptcy Protection Under CCAA
--------------------------------------------------------
Accel Canada Holdings Limited and Accel Energy Canada Limited
commenced a proceeding under the Companies' Creditors Arrangement
Act and an order was granted by the Honourable Justice D.R. Mah of
the Court of Queen's Bench of Alberta.  Pursuant to the initial
order, PricewaterhouseCoopers Inc., LIT was appointed as monitor of
the Companies.

On Nov. 7, 2019 the Companies obtained interim financing orders
from the Court which authorized the the Companies to obtain and
borrow up to a maximum of $16.475 million unless permitted by
further order of the Court.

The Companies own and operate mature conventional light oil assets
in Alberta that have substantial oil-in-place with low decline
rates.  The Companies have stated that their goal is to increase
production and recovery from those reserves.  The Companies' assets
comprise of the following recently acquired oil producing assets in
Northern Alberta for total consideration of approximately $490
million:

  a) Judy Creek: Acquired by Energy in July 2017 for $185 million;
  b) Redwater: Acquired by Holdings in August 2018 for $155
million; and
  c) Greater Swan Hills: Acquired by Holdings in November 2017 for
$150 million.

The Companies have historically sold their petroleum substances to
a petroleum marketer, BP Canada Energy Group ULC.  The Monitor is
advised that in October 2019, the Companies switched petroleum
marketers to Voda Midstream.  As is the case in the oil and gas
industry, the Companies are supposed to receive payment for their
petroleum substances on the 25th day of each month for production
sold the previous month.  As the Companies do not have any line of
credit, the revenue received on the 25th day of the month is
required to fund payroll and payables for the next month.

The Pre-Filing Report is available on the Monitor's website at
https://www.pwc.com/ca/accelcanada

The monitor can be reached at:

   PricewaterhouseCoopers Inc., LIT
   In its capacity as Monitor
   1115 Avenue SW, Suite 3100
   Alberta, Canada T2P 5L3
   Tel: +1 403-509-6669
   Fax: +1 403-781-1825

   Attn: Rick Osuna
   Email: rick.f.osuna@pwc.com

ACCEL Energy -- https://accelenergyltd.com/ -- is a value-focused
energy company with the goal of delivering sustainable hydrocarbon
products to market, while maintaining an unrelenting commitment to
safety, reliability and operability.


AHEAD DB BORROWER: Moody's Affirms B2 CFR, Outlook Stable
---------------------------------------------------------
Moody's Investors Service affirmed Ahead DB Borrower, LLC's B2
Corporate Family Rating and B2 rating on the $65 million 1st lien
senior secured revolver following the proposed revisions to the
transaction structure. The revised structure will include a smaller
term loan and the elimination of the proposed distribution to
shareholders. As part of the rating action, Moody's assigned a B2
rating to the company's proposed $370 million 1st lien senior
secured term loan and downgraded the Probability of Default Rating
to B3-PD. The lower PDR reflects the expectation for maintenance
covenants on the term loan in the revised structure. The rating
outlook is stable.

As majority owner of two portfolio companies, Court Square Capital
Partners will roll over equity from both investments and issue
preferred equity to create the merged entity, Ahead DB. Proceeds
from the new borrowings will be used to add some cash to the
balance sheet, refinance $341 million of existing debt for the two
individual companies, and pay related expenses. The rating actions
are subject to review of final documentation and no material change
in the terms and conditions of the transaction as advised to
Moody's.

The following summarizes the rating actions:

Affirmations:

Issuer: Ahead DB Borrower, LLC

Corporate Family Rating, Affirmed B2

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

Downgrades:

Issuer: Ahead DB Borrower, LLC

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

Assignments:

Issuer: Ahead DB Borrower, LLC

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

Withdrawals:

Issuer: Ahead DB Borrower, LLC

Gtd Senior Secured 1st lien Term Loan, Withdrawn , previously rated
B2 (LGD3)

Outlook Actions:

Issuer: Ahead DB Borrower, LLC

Outlook, Remains Stable

RATINGS RATIONALE

The B2 CFR reflects Ahead DB's small scale compared to competing IT
value-added resellers and managed services firms, and the evolving
requirements of IT deployments for enterprises including the
ongoing transition to cloud platforms. The proposed merger,
including the refinancing of its existing debt, results in debt to
EBITDA of roughly 3.6x at closing (Moody's adjusted); however, the
company is permitted to redeem preferred shares with incremental
debt, subject to covenant compliance, which could keep leverage
elevated. Although the combination of Ahead, LLC and Data Blue, LLC
benefit from greater scale and geographic expansion, the company
has high vendor concentration, with 59% of the company's
non-service revenues represented by Dell EMC products. In addition,
there is some revenue concentration risk given more than 40% of
revenues are derived from the health care and financial services
sectors.

Ratings are supported by Ahead DB's position as an important U.S.
channel partner for Dell EMC resulting in favorable vendor terms
and a good referral pipeline. Combined revenues have grown
consistently in the last few years, and Moody's expects continued
growth in the low to mid single digit percentage range over the
next 24 months, adjusting for the initial revenue ramp of a recent
large customer win. Moody's base case projections do not include
the potential for revenue synergies which management believes can
be achieved given the majority of non-overlapping customer
relationships of the pre-merged companies.

Moody's views Ahead DB's financial policy to be somewhat aggressive
given the private-equity ownership. Although the revised structure
will result in lower starting leverage, the potential for debt
financed distributions or acquisitions to enhance equity returns
constrain the ratings. Lack of public financial disclosure and the
absence of board independence are also incorporated in the B2 CFR.

Moody's expects Ahead DB will maintain good liquidity over the next
12 months, despite being a full taxpayer, supported by adjusted
free cash flow of at least $40 million (more than 7% adjusted free
cash flow to debt) and the proposed $65 million revolver (undrawn
at closing). Good free cash flow reflects the low level of reported
annual capital expenditures (less than 1% of revenue) and modest
working capital needs which is supported by favorable vendor terms.
The revolver and term loan come with a maintenance net leverage
covenant including three step-downs that will be set with at least
a 35% EBITDA cushion .

Ratings for Ahead DB's debt instruments reflect the B3-PD overall
probability of default and an above average family recovery in a
default scenario given maintenance covenants on the proposed term
loan. The B2 rating on the 1st lien senior secured revolver and
term loan is in line with the CFR as they represent the
preponderance of funded debt. Although terms for the preferred
stock need to be finalized, holders of the preferred shares will be
Court Square and management of Ahead, LLC and of Data Blue, LLC.
Moody's does not expect terms of the preferred stock to include
debt-like provisions such as a mandatory redemption rights.

The stable outlook reflects Moody's expectation that management
will achieve most of its integration targets as planned in the
first 12 months post-merger and that the combined Ahead DB will
maintain its position in the southeast and midwestern regions of
the US as a leading provider of technology-based solutions serving
Fortune 1000 companies in the data center and cloud as well as a
high-value sales channel partner for OEMs. Moody's also expects the
company will continue to grow its revenue base while maintaining
adjusted EBITDA margins at more than 8% (roughly 12% margins
post-adoption of ASC 606).

Ratings could be upgraded if Ahead DB continues to grow its
combined top line (adjusting for near term adoption of ASC 606),
expand its geographic reach, and improve its credit metrics
resulting in adjusted free cash flow to debt above 12% and a
commitment to sustain debt to EBITDA below 4.0 times. Ratings could
be downgraded if a decline in revenue or cash flow lead to adjusted
debt to EBITDA being sustained above 6.0x or lower EBITDA margins.
There would be downward pressure on ratings if liquidity were to
weaken resulting in adjusted free cash flow to debt below 5% or
reduced revolver availability.

As proposed, the new term loan B is expected to contain covenant
flexibility for transactions that could adversely affect creditors
including incremental facility capacity equal to (i) the greater of
$250 million and (ii) 100% of Consolidated EBITDA, plus additional
pari passu credit facilities so long as the first lien net leverage
ratio does not exceed 4.15x. Additional incremental debt is
permitted for incremental facilities that are secured on a junior
lien basis or are unsecured. Proposed terms related to the release
of subsidiary guarantees and collateral leakage through transfers
to unrestricted subsidiaries have not been disclosed. Summary term
sheet indicates a 100% net asset sale prepayment requirement
stepping down to 50% when the first lien net leverage ratio is
3.65x, and then 0% when ratio is 3.15x.

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

Ahead DB Borrower, LLC, headquartered in Chicago, IL, is a domestic
provider of technology-based solutions serving Fortune 1000
companies in the data center and cloud as well as a high-value
sales channel partner for OEMs. Upon closing, the company will be
owned by Court Square Capital Partners (67%) and management (33%)
with estimated revenues of $1.2 billion (or roughly $800 million
post-adoption of ASC 606) as of June 2019, pro forma for the merger
and a recent acquisition.


ALL CARE NOW: Case Summary & 9 Unsecured Creditors
--------------------------------------------------
Debtor: All Care Now, LLC
        2418 W. Bloomingdale Ave.
        Suite C2
        Chicago, IL 60647

Business Description: All Care Now, LLC is a health care provider
                      in Chicago, Illinois.

Chapter 11 Petition Date: November 25, 2019

Court: United States Bankruptcy Court
       Northern District of Illinois (Eastern Division)

Case No.: 19-33490

Judge: Hon. Deborah L. Thorne

Debtor's Counsel: Shelly A. DeRousse, Esq.
                  FREEBORN & PETERS LLP
                  311 South Wacker Drive, Suite 3000
                  Chicago, IL 60606
                  Tel: 312-360-6315
                  Fax: 312-360-6520
                  E-mail: sderousse@freeborn.com

                    - and -

                  Elizabeth L. Janczak, Esq.
                  FREEBORN & PETERS LLP
                  311 S. Wacker Drive Suite 3000
                  Chicago, IL 60606
                  Tel: (312) - 3606000
                  E-mail: ejanczak@freeborn.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Christopher Kujawski, manager.

A full-text copy of the petition containing, among other items, a
list of the Debtor's nine unsecured creditors is available for free
at:

         http://bankrupt.com/misc/ilnb19-33490.pdf


ANNA HOLDINGS: To Present Prepackaged Plan to Court in December
---------------------------------------------------------------
Anna Holdings Inc., a/k/a Acosta Inc., and its affiliates are
soliciting votes for their debtor-affiliates for their joint
prepackaged Chapter 11 plan of reorganization, as amended.

The plan was developed in accordance with the terms of a certain
restructuring support agreement dated Nov. 8, 2019, among the
Debtors, consenting creditors, and sponsor ("consenting
stakeholders").  Among other things, the RSA obligates the
consenting stakeholders to vote to approve the plan and support the
Debtors' restructuring.

On Nov. 8, 2019, Anna Holdings, Inc. and certain of its affiliates
commenced solicitation of votes on their Prepackaged Plan.  Anna
Holdings is the parent company of Acosta, Inc.

The Debtors, the Ad Hoc Group, and the Minority First Lien Group on
Nov. 23, 2019, agreed to the modification of certain terms of the
Plan, which resulted in changes to the Definitive Documents,
including an amended Plan (the "Amended Plan") and amended
Disclosure Statement (the "Amended Disclosure Statement").

All Holders of Class 3-First Lien Claims and Class 4-Senior Notes
Claims should submit the Ballot that accompanies the Amended
Disclosure Statement to have their votes and elections counted in
accordance with the Solicitation Procedures before the Class 3
Voting Deadline or the Class 4 Voting Deadline, as applicable.

The Debtors will be seeking a combined hearing to consider the
Disclosure Statement's compliance with the Bankruptcy Code's
disclosure requirements, confirmation of the Plan, any objections
to the foregoing, and any other matter that may properly come
before the Bankruptcy Court.  The Combined Hearing is anticipated
to be held before the Bankruptcy Court, 824 North Market Street,
Wilmington, Delaware 19801, on or about Dec. 13, 2019 at a time and
courtroom to be identified and will be set forth on the Case
Website, or such other date as the Court may direct.

                 Terms of the Restructuring Agreement

As reported in the TCR, Acosta has reached an agreement with more
than 70% of its lenders and more than 80% of its noteholders, each
by principal amount, on the terms of a comprehensive reorganization
and recapitalization.  The deal will eliminate all of the Company's
approximately $3 billion of long-term debt.  Further, investors
have committed $250 million in new equity capital backstopped by
institutions committed to the long-term success of Acosta.

The agreement provides for a conversion of all of Acosta's bank and
bond debt into equity, an infusion of $250 million in cash, and
full satisfaction of other unsecured obligations in the ordinary
course of business.  After the restructuring and recapitalization,
on a pro forma basis, Acosta will have zero net interest burden and
remain significantly cash flow positive with ample liquidity and
working capital.  The Company will emerge with the strongest
balance sheet in the industry.

Copies of the plan and disclosure statement are available at
https://cases.primeclerk.com/Acosta.

                           About Acosta

Acosta Inc. -- http://www.acosta.com/-- provides a range of
outsourced sales, marketing and retail merchandising services
throughout the U.S., Canada and Europe.  For 90 years, Acosta has
led the industry in helping consumer packaged goods companies move
products off shelves and into shoppers' baskets.

Acosta and its lenders have agreed to implement the restructuring
through the "pre-packaged" Plan.  Accordingly, Acosta and its U.S.
affiliates intend to file voluntary Chapter 11 petitions.  Acosta's
non-U.S. subsidiaries and affiliates are not expected to be
included in the upcoming filing or affected by the Chapter 11
process.  Having already received support for the Plan from a
supermajority of both its lenders and noteholders, the Company
expects to complete the restructuring process quickly.

On Nov. 8, 2019, Anna Holdings, Inc. and certain of its affiliates
commenced a solicitation of votes on the Debtors' Joint Prepackaged
Chapter 11 Plan of Reorganization from Holders of First Lien Claims
and Holders of Senior Notes Claims (as defined in the Plan).  Anna
Holdings, Inc. is the parent company of Acosta.

Kirkland & Ellis LLP is acting as legal counsel for the Company,
PJT Partners, Inc. as financial advisor, and Alvarez & Marsal as
restructuring advisor.  Davis Polk & Wardwell LLP is acting as
legal counsel for an ad hoc group of lenders and Centerview
Partners is acting as financial advisor.  White & Case LLP is
acting as legal counsel for certain supporting creditors.  Sullivan
& Cromwell LLP is acting as legal counsel for certain other
supporting creditors.  Prime Clerk LLC is the claims agent.


ARLEN HOUSE: Association Objects to Disclosure Statement
--------------------------------------------------------
Secured creditor Arlen House East Condominium Association, Inc.
filed a limited objection to the disclosure statement of Debtor
Arlen House East 715, LLC.

The Association is the entity responsible for maintaining the
common areas in the residential community known as Arlen House East
in which the Debtor owns a residential unit located at 100 Bayview
Drive, #715, Sunny Isles, Florida 33160.

The Association asserts that the Disclosure Statement erroneously
describes the Property as 2301 Collins Avenue, Apartment 435, Miami
Beach, Florida 33139 and erroneously refers to the Association as
Roney Palace Condo. These corrections should be made to any amended
disclosure statement and confirmed on the record at the time of the
hearing to approve the disclosure statement, the Association
maintains.

The Association is represented by Jeffrey S. Berlowitz of Siegfried
Rivera.

         About Arlen House East 715

Based in Miami Beach, Florida, Arlen House East 715, LLC, filed a
voluntary petition under chapter 11 of the U.S.  Bankruptcy Code
(Bankr. S.D. Fla. Case No. 18-16263) on May 24, 2018, listing under
$1 million in both assets and liabilities. The petition was signed
by Laurent Benzaquen, authorized representative of debtor. The
Debtor is represented by Joel M. Aresty, Esq., at Joel M. Aresty,
P.A., as counsel.


ASPEN LANDSCAPING: Court Grants Emergency $200K DIP Request
-----------------------------------------------------------
Judge Vincent Papalia approved the emergency stipulation allowing
Aspen Landscaping Contracting, Inc., to obtain secured postpetition
financing in an aggregate principal amount of up to $200,000 from
M&T Bank, pursuant to the terms of the Prepetition Loan Documents.
Prepetition, the Debtor and M&T Bank are parties to an (i) Amended
and Restated Daily Adjusting LIBOR Revolving Line Note, dated Jan.
8, 2018, and to a (ii) Credit Agreement, dated June 30, 2015.  

As security for advances made under the Emergency DIP Facility, M&T
Bank is granted with valid, binding, enforceable non-avoidable, and
automatically perfected post-petition security interests in and
liens on all property of the Debtor and the Debtor's estate, as
well as a super priority administrative expense claim.   

According to Court dockets, the Court granted the DIP Loan as the
Debtor does not have sufficient unencumbered cash or other assets
with which to continue to operate its business in Chapter 11.  A
copy of the Emergency DIP Order is available at
https://is.gd/nTju9d  from PacerMonitor.com free of charge.  

               About Aspen Landscaping Contracting

Aspen Landscaping Contracting, Inc. - https://www.aspennj.net -—
is a landscaping contractor located in Union, New Jersey serving
commercial and residential clients. The company offers wetland
mitigation, planting, hydroseeding, irrigation, railroad spraying,
tree removal/pruning/clearing, erosion control/soil stabilization,
soil procurement and grading, and landfill work.

The Debtor sought Chapter 11 protection (Bankr. D.N.J. Case No.
19-31885) on Nov. 20, 2019 in Newark, New Jersey.  In the petition
was signed by Maria A. Fuentes, president, the Debtor was listed
with total assets at $2,429,468 and total liabilities at
$2,510,983.  

Judge Vincent F. Papalia oversees the case.

MCMANIMON, SCOTLAND & BAUMANN, LLC, is the Debtor's counsel.  SAX,
LLP, serves as accountant to the Debtor.



ASPEN LANDSCAPING: Court Grants Interim Cash Collateral Access
--------------------------------------------------------------
Judge Vincent F. Papalia authorized Aspen Landscaping Contracting,
Inc., to use cash collateral, on an interim basis, pursuant to the
budget.

The Court ruling was pursuant to the Debtor's request in its
first-day motion, for preliminary and final use of cash collateral,
in order to preserve its assets and maximize its value for benefit
of parties-in-interest.  Accordingly, the Debtor has sought and
obtained permission to pay M&T Bank with interest only payments
estimated at $6,500 monthly, as adequate protection for M&T Bank's
interest.  The Debtor will also grant M&T Bank additional and
replacement valid, binding, enforceable non-avoidable, and
automatically perfected post-petition security interests in and
liens on all property of the Debtor and its estate.

The Court further directed the Debtor to pay up to $15,000 through
entry of the Final Order within 7 days of presentment of an invoice
to the Debtor, with copies to the Office of the U.S. Trustee and to
counsel for Mr. Fuentes, describing in customary detail the
reasonable and documented attorneys' fees and expenses of M&T Bank,
whether incurred before or after the Petition Date, in each case
without further order of, or application to, the Court or notice to
any party.

Mr. Donald Fuentes, 50% equity owner of the Debtor, has asked in a
separate filing with the Bankruptcy Court, to deny in part the
Debtor's cash collateral motion to the extent that the Debtor seeks
to "circumvent the restraints imposed by the Superior Court's
Divorce Judgment", which ruled that the Debtor was a marital asset
to be divided evenly by the parties.  In his objection, Mr. Fuentes
alleged that the Debtor's bankruptcy is a bogus filing which was
done solely to provide the Debtor's President, Maria Fuentes, with
a litigation advantage in the two-party dispute underway between
them in the Superior Court of New Jersey.  A copy of the Objection
is available at  https://is.gd/T7r8wd  from PacerMonitor.com at no
charge.

A copy of the Interim Order and the Approved Budget is available at
https://is.gd/dDqCYE  from PacerMonitor.com free of charge.  

Final hearing on the Motion to Use Cash Collateral is scheduled on
Dec. 11, 2019 at 11 a.m. (EST).  Objections are due by Dec. 6,
2019.

               About Aspen Landscaping Contracting

Aspen Landscaping Contracting, Inc. -- https://www.aspennj.net --
is a landscaping contractor located in Union, New Jersey serving
commercial and residential clients.  The company offers wetland
mitigation, planting, hydroseeding, irrigation, railroad spraying,
tree removal/pruning/clearing, erosion control/soil stabilization,
soil procurement and grading, and landfill work.

The Debtor sought Chapter 11 protection (Bankr. D. N.J. Case No.
19-31885) on Nov. 20, 2019 in Newark, New Jersey.  As of the
Petition Date, the Debtor was listed with total assets at
$2,429,468 and total liabilities at $2,510,983.  The petition was
signed by Maria A. Fuentes, president.

SAX, LLP serves as accountant to the Debtor.  MCMANIMON, SCOTLAND &
BAUMANN, LLC, is the Debtor's counsel.  Judge Vincent F. Papalia
oversees the case.


BARLEY FORGE: Gets Interim, Final OK to Use Cash Thru Dec. 31
-------------------------------------------------------------
Judge Theodor C. Albert approved, on an interim basis, the motion
filed by Barley Forge Brewing Company, LLC to use cash collateral
through Dec. 31, 2019.

The Court also ruled that the Debtor may use cash collateral on a
final basis through December 31, 2019 pursuant to the supplemental
Budget filed as Dkt. No. 51, a copy of which is available at
https://is.gd/BEWYPB  from PacerMonitor.com free of charge.  

The Supplemental Budget provides for $67,820 in total operating
expenses for Dec. 2019, including $19,468 in rent (for tasting room
and brewery) and $10,000 in payroll to CRO.  The budget also
provides $20,000 in professional fee to Arent Fox LLP, for Dec.
2019.

The Court further ruled that existing security interests in cash
collateral will continue with the same priority and effect as
existed prepetition with all rights to challenge the validity,
extent, and/or priority of such asserted liens being reserved.  A
copy of the Order is available at https://is.gd/foq5He from
PacerMonitor.com free of charge.
  
             About Barley Forge Brewing Company

Barley Forge Brewing Company, LLC, is a privately held company in
the beverage manufacturing business.  Barley Forge Brewing filed a
Chapter 11 petition (Bankr. C.D. Cal. Case No. 19-13920) on Oct. 6,
2019 in Santa Ana, California.  In petition signed by CRO Joshua
Teeple, the Debtor was estimated to have assets of between $500,000
and $1 million, and liabilities of between $1 million and $10
million.  Judge Theodor Albert oversees the case.  ARENT FOX, LLP,
is the Debtor's counsel.



BCP RENAISSANCE: Fitch Affirms BB- Debt Rating, Outlook Stable
--------------------------------------------------------------
Fitch Ratings affirmed the 'BB-' debt rating and 'RR3' Recovery
Rating on the senior secured debt issued by BCP Renaissance Parent,
LLC, and has assigned a final 'BB-' debt issue rating and 'RR3'
Recovery Rating to BCP's $65 million senior secured term loan B 2
due 2024. The Rating Outlooks are Stable.

RATING RATIONALE

The ratings reflect the completion of pipeline construction,
start-up operations to provide natural gas transportation to
several natural gas shippers under long-term contracts, reliance on
about one-half of cash flow from single-B category- rated or
unrated shipping counterparties, and significant refinance risk in
2024. Under rating case assumptions, leverage at term loan maturity
is 7.6x, consistent with the rating. The recovery rating reflects a
default scenario in which BCP is assumed unable to refinance its
debt at maturity and recovery valuation based on a significant loss
of volumes from low or unrated shippers.

KEY RATING DRIVERS

Fixed-Price Contracts - Revenue Risk: Midrange

Revenue risk primarily reflects the fixed-price structure of the
take-or-pay shipping contracts that provide revenue stability
generally through 2032 tempered with significant exposure to
revenues from shippers that have weak creditworthiness or are
unrated by Fitch and to spot sales. In the event that a shipper is
unable to meet its commitments, Rover would be forced to remarket
capacity at prevailing market rates, which may demonstrate high
volatility. The potential for a longer-term reduction in demand and
the prospect of competing pipeline development could put downward
pressure on the pricing of any remarketed capacity.

Abundant Natural Gas - Supply Risk: Midrange

Fitch believes Rover should be able to remarket capacity based on
the fundamental economics of the Marcellus and Utica shale
production regions, particularly in the near to medium term when
Rover represents one of the only available transportation options
for the contracted shippers. Rover provides shippers with access to
multiple regions of steady industrial demand and gas storage
locations such that shipper netbacks would improve considerably
versus local markets, which are oversupplied due to a lack of
takeaway capacity. The competitive position of Rover should support
full utilization of the pipeline system going forward, even if
pricing is lower than originally contracted following any potential
shipper bankruptcy.

Established Operating Profile - Operation Risk: Midrange

Operation risk is generally low based on the evaluation of the
independent technical expert, the asset's low complexity, the use
of conventional technology, and the operator's extensive
experience. Tempering the otherwise low-risk operating profile is
the limited operating history of the pipeline system and the lack
of risk transfer from the Rover operating company to third
parties.

High Leverage and Refinance risk - Debt Structure: Weaker

BCP's debt structure includes initially high leverage, variable
interest rate risk, and significant refinancing risk. The term
loans employ a partially amortizing structure that triggers a
balloon payment at maturity, and BCP's ability to refinance will be
dependent upon the efficacy of a cash sweep. Financial metrics are
generally robust during the seven-year tenor of the term loans;
however, BCP's project life coverage ratio (PLCR) around the time
of debt maturity falls to 1x under rating case assumptions. The
risk of structural subordination of BCP's indebtedness to Rover is
low due to lack of the distribution covenants at Rover in
conjunction with restrictions on additional indebtedness and
capital expenditure activity.

Financial Profile

DSCRs average 1.4x under rating case conditions during the tenor of
the term loans and average 2.2x in the post-refinancing period,
reflecting the benefit of the flexible repayment profile and the
long-term value of Rover's contracts. Leverage at term loan debt
maturity in these conditions is 7.6x. Leverage does not decline
below 4.0x until 2032 based on Fitch's assumption that debt at
maturity is refinanced into a similar structure.

PEER GROUP

Fitch has assigned investment-grade ratings to comparable pipeline
systems, such as Midcontinent Express Pipeline, LLC
(BBB-/Negative), Ruby Pipeline LLC (BBB-/Negative), and Rockies
Express Pipeline, LLC (BBB-/Stable). BCP's initial leverage is 10x,
which is considerably weaker than the leverage under 4.0x exhibited
by these higher rated peers that also generally have a stronger mix
of shipper counterparties and also higher exposure to take-or-pay
contracts rolling-off in the next two years. Additionally, debt at
the peer pipelines is directly at the operating level. Fitch
recognizes the potential for BCP to rapidly de-lever under the term
loans, suggesting that BCP has some capacity to improve the capital
structure over time if economic conditions are favorable and the
shipper contracts remain in force.

RATING SENSITIVITIES

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

  -- Increased exposure to material merchant risk following a
shipper bankruptcy, such that Rover is forced to remarket capacity
at lower-than-contracted pricing.

  -- Adverse market conditions that interfere with BCP's ability to
meet target amortization levels and/or refinance the balloon
maturity in 2024, particularly if leverage exceeds 8x absent
mitigating factors.

  -- Additional indebtedness at Rover that is not offset by an
increase in revenue, such that cash distributions to BCP fall
materially below base case levels.

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

  -- Financial performance that allows BCP to consistently meet
targeted amortization and reduce leverage below 5.0x.

  -- Improvement in the credit quality of the shipper
counterparties to the 'BB' rating category, such that the
proportion of contracted revenue exceeds 75% of total projected
revenue.

TRANSACTION SUMMARY

BCP Renaissance Parent LLC is a special purpose company created to
finance and acquire a minority equity interest in the Rover
pipeline project, which consists of a greenfield 713-mile
interstate pipeline designed to transport 3.25 billion cubic feet
per day (bcf/d) of natural gas. The pipeline is primarily situated
in northern Ohio, extending from the Vector Pipeline
interconnection in southeastern Michigan to Ohio's eastern border,
with laterals reaching into West Virginia and Pennsylvania. The
project has contracted 98% of the pipeline's capacity with nine
natural gas producers/shippers under long-term take-or-pay
agreements with 15-20-year terms. An affiliate of ETP Legacy, LP
(ETP) is operating the project.

CREDIT UPDATE

Weakening Counterparty Creditworthiness: The credit quality of most
of Rover's shipper counterparties remains below investment grade,
and the credit profile of the offtake portfolio as a whole has
weakened with current market pressures on many natural gas
exploration and production companies in many U.S. gas producing
regions. In August 2019, Fitch downgraded Antero Resources to 'BB+'
from 'BBB-'due to the financial impact of the shape decline on
natural gas liquids and natural gas prices, among other factors. In
October 2019, Fitch revised EQT Corp's rating outlook to negative,
citing softer natural gas prices, which have wakened its credit
profile and reduced its near-term liquidity.

Contracting: Rover lost a small shipping contract with EdgeMarc
Energy Holdings, LLC (EdgeMarc) which filed for U.S. bankruptcy
protection on May 15, 2019, following from financial pressures that
arose from its inability to flow natural gas volumes on a third
party pipeline that had an extended outage. EdgeMarc obtained
bankruptcy court approval to reject its contracts with Rover. Rover
is filling the very small share of capacity previously held by
EdgeMarc in the spot market.

Rover entered an interconnection and operating agreement with
Eureka Midstream, LLC for the installation on a meter station on
the Sherwood lateral in West Virginia and applied for the Federal
Energy Regulatory Commission (FERC) approval of the project in
November 2019. The station will be able to accept 300,000
dekatherms of natural gas from the Eureka gather system. If
approved, the project would likely lead to a new shipping contract
for Rover that could reduce its exposure to spot market sales.

Favorable Market Developments: Rover is benefitting from strong
growth in natural gas production in its service area and from court
and regulatory actions that have halted construction on new
pipeline that would compete with Rover. The U.S. Energy Information
Agency (EIA) reports that natural gas production in the Marcellus
and Utica fields increased 13% and 6%, respectively, in the
12-months ended Sept. 1, 2019. Such growth is very favorable to the
limited number of export pipeline from the area such as Rover.
Given the glut of natural gas production in the Marcellus and
Utica, shippers on Rover and other new export pipes are able to
sell their volumes to higher price markets and improve their
netback positions, which supports increased production. However,
the rate of production growth has declined in 2019, due to
pressures on natural gas exploration and production firms in the
area. For the 12-months ended Sept. 1, 2018, growth in the
Marcellus and Utica was 19% and 33%, respectively.

The U.S. Court of Appeals for the Fourth Circuit has vacated
certain construction-related permits, which has resulted in
construction stoppages on the Mountain Valley and Atlantic Coast
pipelines. If built, these pipelines will compete with Rover for
shipping contracts to export gas out of the Marcellus and Utica
regions.

Mountain Valley is building a 2 bcf/d natural gas pipeline from
northwestern West Virginia to southern Virginia. In Oct 2019, the
Court vacated the certain permits issued by the U.S. Fish and
Wildlife Service (FWS), and shortly thereafter, FERC ordered a halt
construction work except for certain restoration and stabilization
activities. The company reports that construction will be about 90%
complete by the end of 2019.

Atlantic Coast is building a 1.5 bcf/d natural gas pipeline from
West Virginia through Virginia and into southern regions of North
Carolina. In July 2019, the Count vacated certain permits also
issued by the FWS related to crossing the Appalachian Trail. FERC
subsequently issued an order to halt all construction work aside
from stabilization efforts. Atlantic Sunrise successfully appealed
to the U.S. Supreme Court, which decided in Oct 2019 to hear the
case. The company expects a decision by July 2020, which if
favorable would support a plan to compete construction by year-end
2021.

Lawsuits and Claims: Rover remains exposed to litigation involving
construction related activities, but the impact, if any, is likely
to be very small. The Ohio EPA has proposed penalties of $2.6
million for alleged violations by Rover related to spilling
drilling fluids and other pollutants into waterways. FERC is also
investigating Rover's demolition of a house, the Stoneman House, a
potential historic structure, allegedly without approval and
notification to FERC.

Financial Performance: Rover has completed one year of full
operations and financial data available to date indicates that
actual performance is in line with expectations. Leverage as of
June 30, 2019 was about 10x, matching the base case forecast.

FINANCIAL ANALYSIS

In its base case, Fitch assumes current levels of contract, spot,
and backhaul volumes through term loan maturity in 2024, reflecting
actual performance along with expectations of favorable market
conditions over the near term. After the maturity date, Fitch
applies a 10% reduction to spot revenues and all revenues
associated with low speculative-grade shippers and spot and
backhaul revenue projections through the forecast period to late
2037. The reduction recognizes the potential for a shipper
bankruptcy and is approximately equivalent to the loss of all
merchant revenues, or the revenues associated with one of the
speculative grade shippers other than Ascent Utica. In 2024, Fitch
assumes an effective extension of the term facility and the cash
sweep at an all-in average interest rate of 8%. DSCRs average 1.5x
during the tenor of the term loan facility and 2.4x
post-refinancing. At term loan refinance, leverage is 6.7x and the
PLCR based on revenue through late 2037 is about 1.2x at an 8%
discount rate.

Fitch's rating case further sensitizes the base case assumptions
through a 10% increase in O&M costs, a further 5% decline in the
low-speculative grade revenue haircut. DSCRs average 1.4x during
the tenor of the term loan and average 1.7x in the post-refinancing
period, reflecting the benefit of the flexible repayment profile
and the long-term value of Rover's contracts. At term loan
refinance, leverage is 7.6x and the PLCR based on revenue through
late 2037 is about 1.0x at an 8% discount rate.

Recovery

Given the completion and strong market performance of Rover and
continued strong growth in production on natural gas from the
Marcellus, the recovery scenario is that Rover experiences a
permanent 30% reduction in volumes from shippers rated below the
'BB' category or unrated and from backhaul and spot sales. In this
scenario, default is assumed to occur at maturity in 2024 when the
debt service reserve is exhausted. EBITDA (or rather, distributed
cash from Rover to BCP) is about $95 million, giving an enterprise
value (EV) of $760 million based on an 8x EBITDA multiple. Total
value for lenders is EV less 10% for administrative claims, or $684
million. This value provides 56% return on the $1.23 b in term loan
debt outstanding at maturity in this scenario.


BIBB COUNTY HEALTH CARE: S&P Lowers Revenue Bond Rating to 'BB'
---------------------------------------------------------------
S&P Global Ratings lowered its long term rating and underlying
rating (SPUR) to 'BB' from 'BBB+' on the Bibb County Health Care
Authority (BCHCA), Ala.'s hospital tax revenue bonds. At the same
time, S&P Global Ratings removed the rating from CreditWatch, where
it had initially been placed and then maintained with developing
implications on June 28, 2019 and Sept. 25, 2019, respectively, to
receive additional information and then apply its health care
criteria. The outlook is stable.

"The downgrade reflects the application of our criteria, "U.S. And
Canadian Not-For-Profit Acute Care Health Care Organizations",
published March 19, 2018, on RatingsDirect," said S&P Global
Ratings credit analyst Wendy Towber. "The rating reflects our view
that Bibb County Medical Center's small primary service area with
low volumes contributes to very weak market share, in our opinion.
Like most small hospitals, the overall size of the medical staff is
limited, resulting in a reliance on the top 10 admitters for the
vast majority of inpatient admissions, leaving the hospital
vulnerable to operational and financial risks associated with
physician turnover," Ms. Towber added.

The authority owns and operates Bibb Medical Center, a 35-bed
licensed (25-bed staffed) medical center located in the downtown
area of the city of Centreville.

The stable outlook reflects S&P's expectation that the hospital
will maintain its current business position, supporting consistent
volumes and good maximum annual debt service coverage while
sustaining sufficient balance sheet metrics for the rating level
through the two-year outlook period. The stable outlook also
reflects S&P's view that some variability in operations is often
common for a hospital of this size.


BIBB COUNTY HEALTH CARE: S&P Reinstates Series 2016 BB Bond Rating
------------------------------------------------------------------
S&P Global Ratings has reinstated its rating on Bibb County Health
Care Authority, Ala.'s series 2016 hospital tax refunding bonds.
This rating should have been lowered to 'BB' from 'BBB+' on Nov.
22, but was instead withdrawn due to an error.



BODY BY PASTRAMI: May Use Cash Collateral Thru Dec. 15
------------------------------------------------------
Judge Trish M. Brown authorized Body By Pastrami, LLC, to use cash
collateral for the period from Nov. 6, 2019 through Dec. 15, 2019
in accordance with the budget.

The budget provides for $53,600 in total cash pay-out for the week
ending Dec. 1, 2019, including $25,000 for payroll; $10,000 for
payroll taxes; and $10,000 for food vendor payments.  A copy of the
cash budget for the period from Nov. 5, 2019 through March 1, 2020
as Exhibit 1 of the Interim Order is available at
https://is.gd/OJRH8x  from PacerMonitor.com free of charge.

As adequate protection, the Lien Creditors are granted replacement
liens upon all post-petition assets of the Debtor.  The Court
ordered the Debtor to timely perform and complete all actions
necessary and appropriate to protect Lien Creditors' collateral
against diminution in value.

Final hearing on the Cash Collateral Motion will be held on
December 11, 2019 at 1:30 p.m. in Courtroom 4 of the U.S.
Bankruptcy Court for the District of Oregon, 1050 SW 6th Ave, #700,
Portland, Oregon.

                     About Body By Pastrami

Body By Pastrami, LLC, is an Oregon limited liability company
managed by its member, Ken Gordan.  The company owns and operates a
delicatessen in the Portland metropolitan area, Kenny & Zuke's
Delicatessen.

Body By Pastrami sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Ore. Case No. 19-34107) on Nov. 6, 2019,
disclosing assets of less than $500,000 and debt of less than $1
million.  The Debtor is represented by Nicholas J. Henderson, Esq.,
at Motschenbacher & Blattner, LLP.


BRAZOS DELAWARE II: Fitch Affirms B- IDR & Alters Outlook to Neg.
-----------------------------------------------------------------
Fitch Ratings affirmed Brazos Delaware II, LLC's Issuer Default
Rating at 'B-', and downgraded its senior secured rating on its
Term-loan B to 'B-'/'RR4' from 'B'/'RR3'. The Rating Outlook has
been revised to Negative from Stable.

The Outlook revision and senior secured rating downgrade reflect
Brazos' continued operational weakness and near-term elevated
leverage, driven by lower than projected volume growth through
Brazos' system. While rig counts on dedicated acreage have been
generally in line with Fitch expectations, well completion delays
continue to drive uninspiring volume growth at Brazos' system, as
evidenced by the increased DUCs (drilled but uncompleted wells)
build-up under Brazos' acreage. Factors including producer cost
controls, and the reallocation of capital by producers to their
other drilling sites have contributed to the upstream production
underperformance at Brazos' system. A facility bottleneck related
to one of Brazos' major upstream customers also poses a lingering
issue for Brazos in the near term.

Brazos' third-quarter 2019 underperformance required a roughly $6
million equity cure to meet its debt service coverage ratio
covenant requirement. While Brazos still has one more equity cure
in the next three quarters and four total equity cures remaining
over the term loan life under its covenant, Fitch does not expect
Brazos will have the need for additional equity cure under the
current rating case. Fitch assumes future quarterly results will be
stronger than 3Q19 given the expected volume ramp and normalized
opex.

However, the Negative Outlook reflects Fitch's concern that any
additional slowdown in volume growth, whether from capital market
conditions or commodity price weakness discouraging production,
could be deleterious to Brazos' credit profile, pressuring the
covenant coverage metrics. A stabilization of the Outlook is
possible should growth keep pace with or exceed Fitch's base case
expectations and leverage trends below 7.5x in the near to
intermediate term. Fitch also believes that Brazos' sponsor will
remain financially supportive in the near term to help Brazos to
meet its future growth capex plans.

KEY RATING DRIVERS

Continued Operational Underperformance: Volumes growth on Brazos'
system continues to underperform relative to Fitch's expectations.
3Q19 volume growth was weaker than previously forecast. Producers'
cost control and revised production schedule on Brazos' dedicated
acreage have largely contributed to well completion delays,
resulting in significantly lower-than-expected throughput volume at
Brazos' system. Brazos' 3Q19 natural gas and crude throughput
volumes were below Fitch's prior forecast of 310 million cubic feet
per day (mmcfpd) and 30 thousand barrels per day (mbblpd),
respectively. Fitch now forecasts Brazos' 4Q19 natural gas and
crude throughput volume to be close to 280 mmcfpd and 27 mbblpd and
to average above 310 mmcfpd and 36 mbblpd in 2020. Fitch notes that
while rig counts have been consistent within Brazos acreage, well
completions have been stagnant as evidenced by the DUCs (drilled by
uncompleted wells) build-up and longer-than-initially forecast
spud-to-sales period. Brazos also experienced facility bottleneck
from one of its major customers during 3Q19. In 2020, an increased
emphasis to be FCF positive by upstream producers, in Fitch's view,
can translate to moderating production growth given a more
conservative capex program, further hampering Brazos' volume growth
in the near term.

Leverage Remains Elevated: Brazos' leverage reduction has been
significant slower than Fitch's previous forecast. The pace of
deleveraging for Brazos is largely predicated on the production
growth of its producer customers. While throughput volume has
modestly grown sequentially during 3Q19, EBTIDA was relatively flat
primarily driven by higher opex. Fitch now projects Brazos'
leverage (total debt/adjusted EBITDA) to remain high at above 10x
for YE19 and above 8x for YE20, with fixed-charge coverage below
1.5x for YE19.

Brazos' 3Q19 underperformance also required approximately $6
million equity cure to meet its DSCR (Debt Service Coverage Ratio)
requirement. The $6 million was part of the $100 million additional
capital that Brazos' sponsors contributed during 3Q19 to help fund
future capex. While Brazos still has one more equity cure in the
next three quarters and four total equity cures remaining over the
term loan life under its covenant, Fitch does not expect Brazos
will have the need for additional equity cure under the current
rating case. Fitch projects future quarterly results to be stronger
than that of 3Q19, aided by the forecast volume ramp and normalized
opex.

Additionally, volume slowdown has also diminished Brazos' future
cash flow, with Fitch now forecasting Brazos to remain FCF negative
until 2021. The credit facility covenant currently prevents
restricted payments of available cash unless Brazos maintains a
4.5x or less total net debt leverage (as defined). Fitch expects
Brazos will be able to meet its capex needs related to growth
projects and debt obligation with its operating cashflow and
financial support from its sponsor.

Volumetric and Counterparty Exposure: Brazos generates 100% of its
cash flow under fixed-fee contracts with a weighted average of
approximately 12 years for its contracts backed by over 500,000
acreage dedication. Fixed-fee contracts immunize Brazos from direct
commodity price exposure. However, indirect volumetric risk
remains. Brazos has customer concentration exposure with top five
producers constituting over 75% of its revenue in 2019 and 2020.
Volume underperformance or a reallocation of capital by any of
these major producer counterparties towards opportunities
elsewhere, as seen in the past year, will impair Brazos' projected
system volume and cash flow.

However, somewhat offsetting the concern about customer
concentration exposure is that most of Brazos' top counterparties
are pure-play Permian players that in aggregate have a robust
production plan in place in the near term. These producer customers
have ramped up production across their Permian footprint and are
projected to continue to do so for 2020 (provided oil prices remain
consistent with Fitch's base case expectation of $57.50 WTI for
2019 and 2020).

Adequate Liquidity: As of 3Q19, Brazos had approximately $83
million post the $100 equity commitment received from its sponsors
during 3Q19 and undrawn $50 million super senior secured revolving
facility (with an optionality of $10 million incremental facility).
Fitch believes that Brazos will not need to draw on its revolver
and should have adequate liquidity to fund its capex program in
4Q19 and 2020 using its cash balance and internally generated
cashflow. Additional borrowings under the revolver will be subject
to the term loan B covenant of 1.1x DSCR and the maximum super
senior leverage ratio of 1.25x under the revolver's financial
covenant.

Small, Single Basin Provider: Brazos' growth is somewhat inhibited
by its scale and scope of operations, given that the company is a
small natural gas gathering & processing (G&P) and crude gathering
services provider that operates predominately in the Southern
Delaware region of the Permian basin. The company is expected to
generate an annual EBITDA less than $200 million in the near term.
Further, given its single basin focus, Brazos is subject to
outsized event risk should there be a slow-down or longer term
disruption of Delaware basin production.

Fitch favorably views Brazos' cash flow stability from its 100%
fixed fee contract profile, which protects Brazos from direct
commodity price exposure. Fitch recognizes that Brazos' top
customers are pure-play Permian producers have a focus in the size
and scale to ramp up drilling activities in the Permian basin.

Competitive Risk: Fitch recognizes that competition is also a
limiting factor that can hamper Brazos' future growth. In seeking
further acreage dedications, Brazos faces competition from larger
midstream companies that can offer more integrated midstream
services, including greater hub connectivity within the Southern
Delaware basin, as well as downstream services such as long-haul
transport and fractionation. Additionally, the increasingly
competitive landscape of G&P business within the Permian can also
further pressure Brazos' existing contract rates. Further, Brazos'
crude gathering business also faces competition from crude trucking
business if producers elect to truck crude barrels instead of
utilizing Brazos' system.

Production Fundamentals Remain Positive: The Permian has been the
leading basin in the U.S. for crude production. Permian production
has posted strong growth in the past years, a trend that is
expected to continue in the near term, given the favorable
production economics within the region. Brazos operates in the
Southern Delaware basin, where Fitch believes that Brazos' upstream
customers will continue to grow their production. Brazos dedicated
acreage gives Brazos the right to gather and transport all the
associated gas produced on the dedicated acres, providing growth
upside as producers continue to develop their acreage.

DERIVATION SUMMARY

Brazos' ratings are limited by the size and scale of operations of
the company. Brazos is a single basin focused midstream company
that provides natural gas G&P and crude gathering services in the
Permian Basin, particularly in the Southern Delaware basin. Fitch
typically views small scale (less than $300 million in EBITDA),
stand-alone, single-asset/basin focused midstream G&P service
providers credit profiles as generally being more consistent with a
'B' range IDR, given the competitiveness and cash flow volatility
of the G&P business through business and commodity price cycles.
Brazos' future cashflow and deleveraging profile are strongly
dependent on the production ramp from the producers under its
dedicated acreage. Production growth underperformance by Brazos's
customers has resulted in a much weaker credit profile for Brazos
in the near term. Further, Fitch's size and scale concerns with
regard to midstream energy issuers tends to focus on facilitating
access to capital to meet funding needs, since larger entities have
an easier time accessing the capital markets. Fitch does not expect
Brazos to have any near-term refinancing risk until its term loan
maturity.

In Fitch's view, relative to its higher rated 'B+' IDR rated peer
Lucid Energy (B+/Negative), Brazos is also smaller in size and
exhibits weaker credit metrics in the near term. Fitch expects
leverage to trend below 6.0x for Lucid in the near term.
Additionally, compared with its peer Navitas (B/Negative), Fitch
forecasts Brazos to have higher leverage in 2019 and 2020, but
recognizes that Brazos has a more stable cashflow contract profile.
While Brazos generates 100% of its cashflow under fixed fee
contract, Navitas retains some commodity price exposure.

KEY ASSUMPTIONS

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

  -- Base case long-term $57.50 WTI for 2019 and 2020;

  -- rates charged to customers consistent with contracted rates,
including rate escalators;

  -- Volume growth through 2021 driven by production ramp by its
existing producer customers; Fitch expects 4Q19 and 2020 natural
gas average throughput volume to be above 280 mmcfpd and 310 mmcfpd
and crude throughput to be above 27mbblpd and 30 mbblpd,
respectively;

  -- Adjusted EBITDA above $20 million on a quarterly basis;

  -- Capex spent in 2020 to be largely funded by operating cash
flow and equity contribution from its sponsor;

  -- No major expansion projects assumed in the forecast period;

  -- Deleveraging supported by term loan amortization (1% per
annum) and debt repayment under excess cash flow sweep.

Recovery Assumptions

In its recovery analysis, Fitch utilized a 6x going-concern EBITDA
multiple that is in line with recent reorganization multiples in
the energy sector. There have been a limited number of bankruptcies
and reorganizations within the midstream space. Two gathering and
processing bankruptcies of companies with a short pre-bankruptcy
life indicate that pro forma exit Enterprise Value over
pre-distress EBITDA provide an approximate range of multiples
between 3.5x and 7.0x. In its recent Bankruptcy Case Study Report,
"Energy, Power and Commodities Bankruptcies Enterprise Value and
Creditor Recoveries" published in April 2019, the median enterprise
valuation exit multiplies for 29 energy cases for which this was
available was 6.1x, with a wide range of multiples observed.
Additionally, current EV/EBITDA multiples of publicly traded
gathering and processing companies similar, though larger, to
Brazos trade in the 9x-15x range, while private companies have
transacted at a higher range of multiples. More generally
historical mid-cycle public midstream EV/EBITDA trading multiples
have ranged from 4x-8x (2010 through 2018).

Fitch's going concern EBITDA assumption is approximately $75
million as a mid-cycle estimate of sustainable EBITDA for the
company post default and bankruptcy emergence. The going concern
EBITDA is revised lower relative to previous assumption of $90
million-$95 million, reflecting a weaker operational profile
associated with lower volume growth and a more challenging
competitive landscape.

Using this going concern EBITDA and assuming a fully drawn revolver
and a 10% administrative claim in the recovery calculation, the
term loan's Recovery Rating is 'RR4'.

RATING SENSITIVITIES

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

  - Positive Rating actions including a Positive Outlook or upgrade
in IDR should EBITDA continue to grow with gas throughput volumes
above 380 mmcfpd while maintaining leverage (total debt/adjusted
EBITDA) at or below 6.5x on a sustained basis and an acceptable
liquidity position;

  - Leverage sustains below 7.5x with throughput volumes above 300
mmcfpd while maintaining an acceptable liquidity position can lead
to a Stable Outlook.

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

  - Slowdown in volume growth across Brazo's acreage, as evidenced
by a decline in rig count or a moderation in daily volumes through
Brazo's system; Fitch expects 2020 average throughput volume to be
above 300 mmcfpd;

  - Leverage (total debt/adjusted EBITDA at or above 8.5x on a
sustained basis;

  - FFO fixed-charge coverage sustained below 1.5x.

LIQUIDITY AND DEBT STRUCTURE

Manageable Liquidity: Fitch believes that Brazos should have
adequate liquidity to meet its debt service obligation and capital
needs in 2019 and 2020 under its current cash balance of
approximately $83 million post the $100 equity commitment received
from its sponsors during 3Q19 and its $50 million undrawn super
senior secured revolving facility (with an optionality of $10
million incremental facility). The term loan B covenant requires a
1.1x DSCR. During 3Q19, Brazos needed an approximately $6 million
equity cure to meet its covenant requirement. Fitch does not
anticipate additional equity contribution or cure needed for Brazos
in the forecast periods. The currently undrawn revolving credit
facility also mandates maximum super senior leverage ratio of 1.25x
under its financial covenant.

ESG CONSIDERATIONS

Brazos Delaware II, LLC has an ESG Relevance Score of 4 for Group
Structure and Financial Transparency as private-equity backed
midstream entities typically have less structural and financial
disclosure transparency than a publicly traded issuers. This has a
negative impact on the credit profile, and is relevant to the
rating in conjunction with other factors. Also, group structure
considerations have elevated scope for Brazos Delaware II, LLC
given the inter-family/related party transactions with affiliate
companies.


BUMBLE BEE: Canadian Unit Clover Leaf Seeks Protection Under CCAA
-----------------------------------------------------------------
Clover Leaf Holdings Company, Connors Bros. Clover Leaf Seafoods
Company, K.C.R. Fisheries Ltd., 6162410 Canada Limited, Connors
Bros. Holding Company and Connors Bros. Seafoods Company commenced
court-supervised restructuring proceedings under the Companies'
Creditors Arrangement Act.

The Ontario Superior Court of Justice (Commercial List) granted an
initial order, which among other things, provides for a stay of
proceedings until Dec. 2, 2019.  The stay period may be extended by
the Court from time to time.  Also pursuant to the initial order,
Alvarez & Marsal Canada Inc. was appointed as monitor of the
business and financial affairs of the Companies.

The CCAA Proceedings were commenced as part of a larger coordinated
restructuring of the Bumble Bee Group.

For copies of the Initial Order, Monitor's Reports and relevant
materials, is available at
https://www.alvarezandmarsal.com/cloverleaf

Monitor can be reached at:

   Alvarez & Marsel Canada Inc.
   
200 Bay St., Suite 2900
   
Toronto, ON M5J 2J1

   Al Hutchens

   Tel: 416.847.5159
   
Email:  ahutchens@alvarezandmarsal.com

   Josh Nevsky

   Tel: 416.847.5161
   
Email:  jnevsky@alvarezandmarsal.com

Counsel for the Monitor:

   Osler, Hoskin & Harcourt LLP
   
6300 One First Canadian Place
   
P.O. Box 50

   Toronto, ON  M5X 1B8

   Marc Wasserman
   
Tel: 416.862.4908
   
Email:  mwasserman@osler.com

   Jeremy Dacks
   
Tel: 416.862.4923
   
Email:  jdacks@osler.com

   Martino F. Calvaruso
   
Tel: 416.862.6665
   
Email:  mcalvaruso@osler.com

   Jake Schmidt
   
Tel: 416.862.4249
   
Email:  jschmidt@osler.com

Counsel for the Companies:

   Bennett Jones LLP
   3400 One First Canadian Place
   
P.O. Box 130
   
Toronto, ON M5X 1A4
   
Fax: 416.863.1716

   Kevin Zych
   
Tel: 416.777.5738
   
Email: zychk@bennettjones.com

   Sean Zweig
   
Tel: 416.777.6254
   
Email: zweigs@bennettjones.com  

   Mike Shakra
   
Tel: 416.777.6236

   Email: shakram@bennettjones.com

   Aiden Nelms
   
Tel: 416.777.4642
   
Email: nelmsa@bennettjones.com

Counsel for the US Companies:

   Paul, Weiss, Rifkind, Wharton & Garrison LLP
   1285 6th Avenue
   New York, New York 10019

   Alan W. Kornberg
   
Tel: 212.373.3209
   
Email: akornberg@paulweiss.com

   Kelley A. Cornish
   
Tel: 212.373.3493
   
Email: kcornish@paulweiss.com

   Claudia R. Tobler
   
Tel: 202.223.7354
   
Email: ctobler@paulweiss.com

   Christopher Hopkins
   
Tel: 212.373.3334

   Email: chopkins@paulweiss.com

Delaware counsel for the US Companies:

   Young Conaway Stargatt & Taylor LLP
   Rodney Square, 1000 North King Street
   Wilmington, Delaware 19801

   Pauline K. Morgan
   
Tel: 302.571.6707
   
Email: pmorgan@ycst.com

   Ryan M. Bartley
   
Tel: 302.571.5007
   
Email: rbartley@ycst.com

   Ashley E. Jacobs
   
Tel: 302.571.6634
   
Email: ajacobs@ycst.com

   Elizabeth S. Justison

   Tel: 302.571.6669
   
Email: ejustison@ycst.com

Clover Leaf Holdings is an indirect wholly owned subsidiary of
Bumble Bee Holdco S.C.A., an indirect wholly owned subsidiary of
the ultimate corporate parent Big Catch 1 L.P.


CALIFORNIA PIZZA: S&P Cuts ICR to CCC- on Risk Of Covenant Breach
-----------------------------------------------------------------
S&P Global Ratings lowered its rating on U.S.-based restaurant
operator California Pizza Kitchen Inc. (CPK) to 'CCC-' from 'CCC+'.


At the same time, S&P lowered its issue-level rating on the
company's $320 million senior secured credit facility to 'CCC-'
from 'CCC+', and its issue-level rating on its $75 million
second-lien debt to 'C' from 'CCC-'. S&P's recovery ratings of '3'
and '6', respectively, are unchanged.

S&P thinks a breach of the financial covenant is likely in the
near-term, increasing the risk of debt restructuring.   The
downgrade reflects S&P's projection for continued deterioration in
CPK's operating performance over the near term, including weakening
sales, margins, and negative free operating cash flow (FOCF). It
also reflects the rating agency's expectation that the operating
environment for casual-dining restaurants will remain challenged,
especially for smaller operators like CPK. S&P expects CPK to
generate modest FOCF deficits for the foreseeable future, which
increases the risk it cannot refinance its capital structure at par
when the term loan facilities mature in 2022.

The negative outlook reflects the potential for a lower rating if
the company appears unable to renegotiate its credit agreement to
avoid violating the covenant, or if it announces a distressed
exchange or restructuring.

"We could lower our ratings if CPK announces a restructuring,
distressed exchange, or if a default appears inevitable," S&P
said.

"We could raise our rating if we believe CPK's performance will
stabilize and we expect the company to maintain adequate headroom
under its financial maintenance covenant over the next 12 months,"
the rating agency said.


CBAC BORROWER: S&P Alters Outlook to Negative, Affirms 'B-' ICR
---------------------------------------------------------------
S&P Global Ratings revised the outlook to negative from stable and
affirmed its 'B-' issuer credit rating on CBAC Borrower LLC.

At the same time, S&P revised its recovery rating on CBAC's secured
debt to '3' from '2' because it reassessed its assumed enterprise
value in its simulated default scenario. As a result of the revised
recovery rating, S&P lowered its issue-level rating on the debt one
notch to 'B-', from 'B'.

S&P revised the outlook to negative because it is now forecasting
CBAC's 2019 EBITDA, credit measures, and liquidity position to
deteriorate more than the rating agency previously anticipated,
which increases CBAC's liquidity risk if EBITDA does not stabilize
in 2020 to ensure CBAC maintains adequate liquidity. Since S&P
thinks there is a heightened risk of a recession beginning in the
next 12 months compared with a year ago, and it believes that any
pull back in consumer discretionary spending would translate into
less spending at U.S. casinos, the rating agency believes there
could be additional volatility in CBAC's operating performance in
2020, which could further strain liquidity.

The negative outlook reflects S&P's updated forecast for EBITDA to
decline more than it previously anticipated, heightening the risk
that CBAC's liquidity position could become impaired if EBITDA does
not stabilize in early 2020.

"We could lower the rating if EBITDA did not stabilize in early
2020 because this could translate into negative discretionary cash
flow, further depleting excess cash balances and increasing the
likelihood that CBAC would need access to its revolver to fund cash
needs," S&P said.

"We could revise the outlook to stable once we believed that CBAC's
EBITDA had stabilized at a level to comfortably cover fixed charges
and rebuild excess cash balances. Before revising the outlook, we
would also want to believe that CBAC had improved cushion with
respect to the financial maintenance covenant under its revolver,"
the rating agency said.


CBAK ENERGY: Incurs $1.8 Million Net Loss in Third Quarter
----------------------------------------------------------
CBAK Energy Technology, Inc., filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
net loss of US$1.79 million on US$8.09 million of net revenues for
the three months ended Sept. 30, 2019, compared to net income of
US$7.92 million on US$5.59 million of net revenues for the three
months ended Sept. 30, 2018.

For the nine months ended Sept. 30, 2019, the Company reported a
net loss of US$6.93 million on US$17.53 million of net revenues
compared to net income of US$1.91 million on US$14.95 million of
net revenues for the same period last year.

As of Sept. 30, 2019, CBAK Energy had US$110.40 million in total
assets, US$98.90 million in total liabilities, and total equity of
US$11.50 million.

CBAK Energy has financed its liquidity requirements from short-term
bank loans, other short-term loans and bills payable under bank
credit agreements, advances from its related and unrelated parties,
investors and issuance of capital stock.

As of Sept. 30, 2019, the Company had cash and cash equivalents of
$0.2 million.  The Company's total current assets were $42.1
million and its total current liabilities were $76.4 million,
resulting in a net working capital deficiency of $34.3 million. The
Company said these factors raise substantial doubts about its
ability to continue as a going concern.

The Company has obtained banking facilities from various local
banks in China.  As of Sept. 30, 2019, the Company had unutilized
committed banking facilities of $4.6 million.

CBAK Energy said, "We are currently expanding our product lines and
manufacturing capacity in our Dalian plant, which require more
funding to finance the expansion.  We may also require additional
cash due to changing business conditions or other future
developments, including any investments or acquisitions we may
decide to pursue.  We plan to renew these loans upon maturity, if
required, and plan to raise additional funds through bank
borrowings and equity financing in the future to meet our daily
cash demands, if required.  However, there can be no assurance that
we will be successful in obtaining this financing. If our existing
cash and bank borrowing are insufficient to meet our requirements,
we may seek to sell equity securities, debt securities or borrow
from lending institutions.  We can make no assurance that financing
will be available in the amounts we need or on terms acceptable to
us, if at all.  The sale of equity securities, including
convertible debt securities, would dilute the interests of our
current shareholders.  The incurrence of debt would divert cash for
working capital and capital expenditures to service debt
obligations and could result in operating and financial covenants
that restrict our operations and our ability to pay dividends to
our shareholders.  If we are unable to obtain additional equity or
debt financing as required, our business operations and prospects
may suffer.

"In the meanwhile, due to the growing environmental pollution
problem, the Chinese government is currently providing strong
support to the industry of new energy facilities and vehicle.  It
is expected that we will be able to secure more potential orders
from the new energy market, especially from the new energy storage
market and the electric vehicle market.  We believe that with the
booming future market demand in high power lithium ion products, we
can continue as a going concern and return to profitability."

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

                       https://is.gd/6gOPA4

                       About CBAK Energy

Dalian, China-based CBAK Energy Technology, Inc., formerly China
BAK Battery, Inc. -- http://www.cbak.com.cn-- is engaged in the
business of developing, manufacturing and selling new energy high
power lithium batteries, which are mainly used in the following
applications: electric vehicles; light electric vehicles; and
electric tools, energy storage, uninterruptible power supply, and
other high power applications.

CBAK Energy reported a net loss of $1.95 million for the year ended
Dec. 31, 2018, compared with a net loss of $21.46 million for the
year ended Dec. 31, 2017.  As of June 30, 2019, the Company had
$118.34 million in total assets, $112.16 million in total
liabilities, and $6.17 million in total equity.

Centurion ZD CPA & Co., in Hong Kong, China, 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, citing that the
Company has a working capital deficiency, accumulated deficit from
recurring net losses and significant short-term debt obligations
maturing in less than one year as of Dec. 31, 2018. All these
factors raise substantial doubt about its ability to continue as a
going concern.


CBAK ENERGY: Stockholders Elect Five Directors
----------------------------------------------
CBAK Energy Technology, Inc. held the 2019 annual meeting of
stockholders of the Company on Nov. 18, 2019, at which the
stockholders elected Yunfei Li, Simon J. Xue, Martha C. Agee,
Jianjun He, and Guosheng Wang to the Board of Directors of the
Company to serve until the 2020 annual meeting of stockholders.
The Company's stockholders ratified the selection of Centurion ZD
CPA & Co. as the Company's independent registered accounting firm
for the fiscal year ending Dec. 31, 2019.

                      About CBAK Energy

Dalian, China-based CBAK Energy Technology, Inc., formerly China
BAK Battery, Inc. -- http://www.cbak.com.cn-- is engaged in the
business of developing, manufacturing and selling new energy high
power lithium batteries, which are mainly used in the following
applications: electric vehicles; light electric vehicles; and
electric tools, energy storage, uninterruptible power supply, and
other high power applications.

CBAK Energy reported a net loss of $1.95 million for the year ended
Dec. 31, 2018, compared with a net loss of $21.46 million for the
year ended Dec. 31, 2017.  As of Sept. 30, 2019, CBAK Energy had
US$110.40 million in total assets, US$98.90 million in total
liabilities, and total equity of US$11.50 million.

Centurion ZD CPA & Co., in Hong Kong, China, 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, citing that the
Company has a working capital deficiency, accumulated deficit from
recurring net losses and significant short-term debt obligations
maturing in less than one year as of Dec. 31, 2018. All these
factors raise substantial doubt about its ability to continue as a
going concern.


CBAK ENERGY: Wenwu Wang Quits as Dalian CBAK's General Manager
--------------------------------------------------------------
Wenwu Wang resigned as general manager of Dalian CBAK Power Battery
Co., Ltd., a wholly owned subsidiary of CBAK Energy Technology,
Inc.  Mr. Wang has agreed to act as a consultant to the Company.

                        About CBAK Energy

Dalian, China-based CBAK Energy Technology, Inc., formerly China
BAK Battery, Inc. -- http://www.cbak.com.cn-- is engaged in the
business of developing, manufacturing and selling new energy high
power lithium batteries, which are mainly used in the following
applications: electric vehicles; light electric vehicles; and
electric tools, energy storage, uninterruptible power supply, and
other high power applications.

CBAK Energy reported a net loss of $1.95 million for the year ended
Dec. 31, 2018, compared with a net loss of $21.46 million for the
year ended Dec. 31, 2017.  As of Sept. 30, 2019, CBAK Energy had
US$110.40 million in total assets, US$98.90 million in total
liabilities, and total equity of US$11.50 million.

Centurion ZD CPA & Co., in Hong Kong, China, 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, citing that the
Company has a working capital deficiency, accumulated deficit from
recurring net losses and significant short-term debt obligations
maturing in less than one year as of Dec. 31, 2018. All these
factors raise substantial doubt about its ability to continue as a
going concern.


CECCHI GORI: Seeks to Hire Bird & Bird LLP as Special Counsel
-------------------------------------------------------------
Cecchi Gori Pictures and Cecchi Gori USA, Inc. seek approval from
the U.S. Bankruptcy Court for the Northern District of California
to hire Bird & Bird LLP as special counsel.

The London-based law firm will represent the Debtors before the
English Court in the United Kingdom to obtain an order requiring
the production of documents from the U.K. branch of Barclays Bank
PLC.

Barclays' U.K. branch did not agree to produce the documents
without an order from the U.K. court, which can only be obtained
through a U.K. lawyer.

The fee for Bird & Bird's services would be between $30,000 to
$50,000 depending in large part on whether a hearing before the
U.K. court is necessary and to the extent that such a hearing is
contested.

Victoria Hobbs, a partner at Bird & Bird's International Dispute
Resolution Group, disclosed in court filings that the firm does not
hold any interest adverse to the Debtor's bankruptcy estate.

Bird & Bird can be reached through:

     Victoria Hobbs
     Bird & Bird LLP
     12 New Fetter Lane
     London EC4A 1JP
     United Kingdom
     Phone: +44 (0)20 7415 6000  
     Email: victoria.hobbs@twobirds.com  

                        About Cecchi Gori

Cecchi Gori Pictures and Cecchi Gori USA, Inc. filed voluntary
Chapter 11 petitions (Bankr. N.D. Cal. Case No. 16-53499) on Dec.
14, 2016.  At the time of the filing, each Debtor disclosed assets
of between $1 million and $10 million and liabilities of the same
range.

The cases are assigned to Judge Elaine M. Hammond.  The Debtors
hired Sheppard Mullin Richter & Hampton, LLP as their bankruptcy
counsel.


COMMUNITY HEALTH SYSTEMS: S&P Raises ICR to 'CCC+', Outlook Neg.
----------------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on U.S.-based
hospital operator Community Health Systems Inc. to 'CCC+' from 'SD'
(selective default) and its rating on the company's senior
unsecured notes due 2022 to 'CCC-' from 'D'.

S&P assigned its 'B-' ratings to Community's new senior secured
debt due 2027, with a '2' recovery rating, reflecting its
expectation of 70%-90% (rounded estimate: 70%) in the event of a
default. In addition, S&P assigned its 'CCC-' rating to the
company's new senior unsecured debt due 2028, with a '6' recovery
rating, reflecting the rating agency's expectations of 0%-10%
recovery (rounded estimate: 0%).

The upgrade to 'CCC+' reflects the company's longer-dated debt
maturity schedule, and S&P's view that Community's efforts to
rationalize its hospital portfolio as well as improve financial
performance and cash flow should strengthen credit measures over
the next couple of years. Following the termination of the
company's cash flow revolver, covenant pressures are eliminated,
though the company still faces debt maturities in 2021 ($1 billion
in secured notes) and 2023 (over $5 billion in debt). While S&P
currently expects significant improvement in operating performance
over the next two years, the rating agency sees risk to its
forecasts given the company's history of operating
underperformance, and believes Community could face constrained
liquidity if it is unable to strengthen EBITDA.

The negative rating outlook reflects S&P's view that Community is
unlikely to be able to support its current level of debt over time,
as well as risks to the rating agency's current base-case
expectations that the company can improve its operations such that
cash flow is about break-even, limiting the risk of further debt
restructuring over the next year.

"We could lower the rating if the company does not achieve
sufficient success in its turnaround plan, resulting in higher than
expected cash outflows over the next few quarters. We could also
lower the rating if the company is unable to refinance its 2021
maturities before the debt becomes current in August 2020, as this
would suggest the risk of a default within the next 12 months," S&P
said.

"We could revise the outlook to stable if the company meets our
base-case forecast, which would result in modest free cash flow in
2020. Under this scenario, we would expect the company to
successfully refinance its 2021 maturities, and would need to
demonstrate its ability to address its large 2023 debt maturities,"
the rating agency said.


COMMUNITY HEALTH: Issues $699.9M Secured & $1.7B Unsecured Notes
----------------------------------------------------------------
CHS/Community Health Systems, Inc., a direct, wholly owned
subsidiary of Community Health Systems, Inc., issued $699,924,000
aggregate principal amount of its new 8.000% Senior Secured Notes
due 2027, which mature on Dec. 15, 2027, and $1,700,394,000
aggregate principal amount of its new 6.875% Senior Unsecured Notes
due 2028, which mature on April 1, 2028.  The terms of the New
Senior-Priority Notes are governed by an Indenture, dated as of
Nov. 19, 2019, among the Issuer, the Company, the subsidiary
guarantors party thereto, Regions Bank, as trustee, and Credit
Suisse AG, as collateral agent.  The terms of the New Unsecured
Notes are governed by an Indenture, dated as of Nov. 19, 2019,
among the Issuer, the Company, the subsidiary guarantors party
thereto and the Trustee.

The New Exchange Notes were issued on the early settlement date of
the Issuer's previously announced offer to exchange a combination
of New Senior-Priority Notes and New Unsecured Notes for any and
all of its $2,632 million aggregate principal amount of outstanding
6.875% Senior Unsecured Notes due 2022.  As of 5:00 p.m., New York
City time, on Nov. 13, 2019, a total of $2,400,461,000 aggregate
principal amount of 2022 Notes were validly tendered (and not
validly withdrawn) in the Exchange Offer.  The Exchange Offer will
expire at midnight, New York City time, on Nov. 27, 2019, unless
extended.

Interest on the New Senior-Priority Notes is payable semi-annually
in arrears on June 15 and December 15 at 8.000% per annum,
commencing on June 15, 2020.  Interest on the New Unsecured Notes
is payable semi-annually in arrears on April 1 and October 1 at a
rate of 6.875% per annum, commencing on April 1, 2020.

Each series of New Exchange Notes is unconditionally guaranteed by
the Company and each of the Issuer's current and future domestic
subsidiaries that provide guarantees under the Issuer's ABL
facility, any capital market debt securities of the Issuer
(including the Issuer's outstanding senior notes) and certain other
long-term debt of the Issuer and the guarantors.

Pursuant to the second amended and restated guarantee and
collateral agreement, dated as of July 25, 2007, as amended and
restated as of Nov. 5, 2010, as further amended on Aug. 17, 2012,
and as further amended and restated on Nov. 19, 2019, among the
Issuer, the grantors named therein and the Collateral Agent and the
Intercreditor Agreements, the New Senior-Priority Notes and the
related guarantees are secured by (i) first-priority liens on the
collateral that also secures on a first-priority basis the Issuer's
existing senior-priority secured notes and (ii) second-priority
liens on the collateral that secures on a first-priority basis the
ABL Facility (and also secures on a second-priority basis the
Existing Senior-Priority Notes), in each case subject to permitted
liens described in the Senior-Priority Notes Indenture.  The New
Senior-Priority Notes are subject to the terms of three
intercreditor agreements: (1) the intercreditor agreement which
governs the relative rights of the secured parties in respect of
the ABL Facility, the Existing Senior-Priority Notes, the Issuer's
existing junior-priority secured notes and the New Senior-Priority
Notes, (2) the intercreditor agreement which governs the relative
rights of the secured parties in respect of the Existing
Senior-Priority Notes, the Existing Junior-Priority Notes and the
New Senior-Priority Notes and (3) the intercreditor agreement which
governs the relative rights of holders of the Existing
Senior-Priority Notes, the New Senior-Priority Notes and any future
obligations secured on a pari passu basis with the New
Senior-Priority Notes.  Each of the Intercreditor Agreements
restrict the actions permitted to be taken by the Collateral Agent
with respect to the Collateral on behalf of the holders of the New
Senior-Priority Notes.

At any time prior to Dec. 15, 2022, the Issuer may redeem some or
all of the New Senior-Priority Notes at a price equal to 100% of
the principal amount of the New Senior-Priority Notes redeemed plus
accrued and unpaid interest, if any, to, but excluding, the
applicable redemption date plus a "make-whole" premium, as
described in the Senior-Priority Notes Indenture.  On or after Dec.
15, 2022, the Issuer may redeem some or all of the New
Senior-Priority Notes at any time and from time to time at the
redemption prices set forth in the Senior-Priority Notes Indenture,
plus accrued and unpaid interest, if any, to, but excluding, the
applicable redemption date.  In addition, at any time prior to Dec.
15, 2022, the Issuer may redeem up to 40% of the aggregate
principal amount of the New Senior-Priority Notes with the proceeds
of certain equity offerings at the redemption price set forth in
the Senior-Priority Notes Indenture, plus accrued and unpaid
interest, if any, to, but excluding, the applicable redemption
date.

At any time prior to April 1, 2023, the Issuer may redeem some or
all of the New Unsecured Notes at a price equal to 100% of the
principal amount of the New Unsecured Notes redeemed plus accrued
and unpaid interest, if any, to, but excluding, the applicable
redemption date plus a "make-whole" premium, as described in the
Unsecured Notes Indenture.  On or after April 1, 2023, the Issuer
may redeem some or all of the New Unsecured Notes at any time and
from time to time at the redemption prices set forth in the
Unsecured Notes Indenture, plus accrued and unpaid interest, if
any, to, but excluding, the applicable redemption date.  In
addition, at any time prior to April 1, 2023, the Issuer may redeem
up to 40% of the aggregate principal amount of the New Unsecured
Notes with the proceeds of certain equity offerings at the
redemption price set forth in the Unsecured Notes Indenture, plus
accrued and unpaid interest, if any, to, but excluding, the
applicable redemption date.

If New Exchange Notes of a series would otherwise constitute
"applicable high yield discount obligations" within the meaning of
Section 163(i)(1) of the Internal Revenue Code of 1986, as amended,
at the end of each "accrual period" (as defined in Section
1272(a)(5) of the Code) ending after the fifth anniversary of the
issue date of such series of New Exchange Notes, the Issuer will be
required to redeem for cash a portion of each New Exchange Note of
such series then outstanding equal to the "Mandatory Principal
Redemption Amount".  The redemption price for the portion of each
New Exchange Note redeemed pursuant to any Mandatory Principal
Redemption will be 100% of the principal amount of such portion
plus any accrued interest thereon on the date of redemption.
"Mandatory Principal Redemption Amount" means, as of each AHYDO
redemption date, the portion of a New Exchange Note required to be
redeemed to prevent such New Exchange Note from being treated as an
"applicable high yield discount obligation" within the meaning of
Section 163(i)(1) of the Code.  No partial redemption or repurchase
of the New Exchange Notes of a series prior to any AHYDO redemption
date pursuant to any other provision of the applicable New Exchange
Notes Indenture will alter the Issuer's obligation to make any
Mandatory Principal Redemption with respect to any New Exchange
Notes of such series that remain outstanding on the AHYDO
redemption date.

If the Company or the Issuer experiences a Change of Control (as
defined in each New Exchange Notes Indenture), the Issuer is
required to offer to repurchase each series of New Exchange Notes
at 101% of the principal amount of such series of New Exchange
Notes plus accrued and unpaid interest, if any, to, but excluding,
the date of repurchase.

Each New Exchange Notes Indenture contains covenants that, among
other things, limit the Issuer's ability and the ability of its
restricted subsidiaries to incur or guarantee additional
indebtedness (including restrictions on the ability of the Issuer
and its restricted subsidiaries to incur any additional secured
indebtedness), pay dividends or make other restricted payments,
make certain investments, incur restrictions on the ability of the
Issuer's restricted subsidiaries that are not guarantors to pay
dividends or make certain other payments, create or incur certain
liens, sell assets and subsidiary stock, impair the security
interests (solely in the case of the Senior-Priority Notes
Indenture), transfer all or substantially all of the Issuer's
assets or enter into merger or consolidation transactions, and
enter into transactions with affiliates.  Each New Exchange Notes
Indenture provides for customary events of default which include
(subject in certain cases to customary grace and cure periods),
among others, nonpayment of principal or interest, breach of other
agreements in each New Exchange Notes Indenture, failure to pay
certain other indebtedness, failure to pay certain final judgments,
failure of certain guarantees to be enforceable and certain events
of bankruptcy or insolvency.  The Senior-Priority Notes Indenture
also includes as an event of default for failure to perfect certain
collateral securing the New Senior-Priority Notes.

                 Offering of Additional 2026 Notes

On Nov. 19, 2019, the Issuer completed its previously announced
offering of an additional $500,000,000 aggregate principal amount
of its 8.000% Senior Secured Notes due 2026 at an issue price of
100.00% plus accrued interest from Sept. 15, 2019 to Nov. 19, 2019.
The Additional 2026 Notes were issued as additional notes under
the Indenture, dated as of March 6, 2019, among the Issuer, the
Company, the subsidiary guarantors party thereto, the Trustee and
the Collateral Agent, as amended and supplemented by the First
Supplemental Indenture, dated Nov. 19, 2019, among the Issuer, the
Company, the subsidiary guarantors party thereto, the Trustee and
the Collateral Agent.

Interest on the Additional 2026 Notes is payable semi-annually in
arrears on March 15 and September 15 of each year at 8.000% per
annum, commencing on March 15, 2020.

The Additional 2026 Notes are unconditionally guaranteed by the
Company and each of the Issuer's current and future domestic
subsidiaries that provide guarantees under the ABL Facility, any
capital market debt securities of the Issuer (including the
Issuer's outstanding senior notes) and certain other long-term debt
of the Issuer and the guarantors.

Pursuant to the Collateral Agreement and the Intercreditor
Agreements, the Additional 2026 Notes and the related guarantees
are secured by (i) first-priority liens on the Non-ABL Priority
Collateral that also secures on a first-priority basis the Existing
Senior-Priority Notes and the New Senior-Priority Notes and (ii)
second-priority liens on the ABL-Priority Collateral that secures
on a first-priority basis the ABL Facility (and also secures on a
second-priority basis the Existing Senior-Priority Notes and the
New Senior-Priority Notes), in each case subject to permitted liens
described in the 2026 Notes Indenture.  The Additional 2026 Notes
are subject to the terms of each of the Intercreditor Agreements.
Each of the Intercreditor Agreements restrict the actions permitted
to be taken by the Collateral Agent with respect to the Collateral
on behalf of the holders of the 2026 Notes.

At any time prior to March 15, 2022, the Issuer may redeem some or
all of the 2026 Notes at a price equal to 100% of the principal
amount of the 2026 Notes redeemed plus accrued and unpaid interest,
if any, to, but excluding, the applicable redemption date plus a
"make-whole" premium, as described in the 2026 Notes Indenture.  On
or after March 15, 2022, the Issuer may redeem some or all of the
2026 Notes at any time and from time to time at the redemption
prices set forth in the 2026 Notes Indenture, plus accrued and
unpaid interest, if any, to, but excluding, the applicable
redemption date.  In addition, at any time prior to March 15, 2022,
the Issuer may redeem up to 40% of the aggregate principal amount
of the 2026 Notes with the proceeds of certain equity offerings at
the redemption price set forth in the 2026 Notes Indenture, plus
accrued and unpaid interest, if any, to, but excluding, the
applicable redemption date.

If the Company or the Issuer experiences a Change of Control (as
defined in the 2026 Notes Indenture), the Issuer is required to
offer to repurchase the 2026 Notes at 101% of their principal
amount plus accrued and unpaid interest, if any, to, but excluding,
the date of repurchase.

The 2026 Notes Indenture contains covenants that, among other
things, limit the Issuer's ability and the ability of its
restricted subsidiaries to incur or guarantee additional
indebtedness, pay dividends or make other restricted payments, make
certain investments, incur restrictions on the ability of the
Issuer's restricted subsidiaries that are not guarantors to pay
dividends or make certain other payments, create or incur certain
liens, sell assets and subsidiary stock, impair the security
interests, transfer all or substantially all of the Issuer's assets
or enter into merger or consolidation transactions, and enter into
transactions with affiliates.  The 2026 Notes Indenture provides
for customary events of default which include (subject in certain
cases to customary grace and cure periods), among others,
nonpayment of principal or interest, breach of other agreements in
the 2026 Notes Indenture, failure to pay certain other
indebtedness, failure to pay certain final judgments, failure of
certain guarantees to be enforceable, failure to perfect certain
collateral securing the 2026 Notes and certain events of bankruptcy
or insolvency.

Also on Nov. 19, 2019, the Issuer repaid all amounts outstanding
and terminated the Issuer's Fourth Amended and Restated Credit
Agreement dated as of March 23, 2018 (as amended, modified,
supplemented or restated and in effect from time to time), among
the Issuer, the Company, subsidiary guarantors party thereto, the
lenders party thereto and Credit Suisse AG, as administrative agent
and collateral agent.

                     About Community Health

Community Health -- http://www.chs.net-- is a publicly traded
hospital company and an operator of general acute care hospitals in
communities across the country.  The Company, through its
subsidiaries, owns, leases or operates 102 affiliated hospitals in
18 states with an aggregate of approximately 16,000 licensed beds.
The Company's headquarters are located in Franklin, Tennessee, a
suburb south of Nashville.  Shares in Community Health Systems,
Inc. are traded on the New York Stock Exchange under the symbol
"CYH."

Community Health reported a net loss attributable to the Company's
stockholders of $788 million for the year ended Dec. 31, 2018,
compared to a net loss attributable to the Company's stockholders
of $2.45 billion for the year ended Dec. 31, 2017.  As of Sept. 30,
2019, the Company had $15.89 billion in total assets, $17.16
billion in total liabilities, $498 million in redeemable
noncontrolling interests in equity of consolidated subsidiaries,
and a total stockholders' deficit of $1.76 billion.

                       *    *    *

As reported by the TCR on Nov. 5, 2019, S&P Global Ratings lowered
the issuer credit rating on U.S.-based hospital operator Community
Health Systems Inc. to 'CC' from 'CCC+'.  The downgrade follows the
announcement that Community is seeking to exchange $2,632 million
of its 6.875% senior unsecured notes due 2022 for a combination of
new 8.00% senior secured notes due 2027 and new 6.875% senior
unsecured notes due 2028.

Also in November 2019, Fitch Ratings downgraded Community Health
Systems, Inc.'s Issuer Default Rating to 'C' from 'CCC' following
the company's announcement of an offer to exchange a series of
senior unsecured notes due 2022.  The downgrade results from Fitch
viewing the transaction as a distressed debt exchange.


COVIA HOLDINGS: Moody's Cuts CFR to B3 & Alters Outlook to Stable
-----------------------------------------------------------------
Moody's Investors Service downgraded Covia Holdings Corporation's
Corporate Family Rating to B3 from B1, Probability of Default
rating to B3-PD from B1-PD, and the senior secured credit facility
rating to B3 from B1. In addition, Moody's maintained Covia's
Speculative Grade Liquidity of SGL-3. The outlook was revised to
stable.

The downgrade reflects Moody's expectations that revenues,
profitability and key credit metrics will remain under pressure for
the rest of 2019 and stabilize in 2020 due to on-going volatility
in the oil and natural gas end market and persistent weakness in
the frac sand industry. Despite recent mine closures and production
cuts, Moody's does not expect significant price recovery anytime
soon, as many miners have committed to higher volume at lower
prices. In addition, during 2020, Moody's expects in-basin sand to
completely displace Northern White Sand in the Permian, Eagle Ford
and Mid-Continent basins.

Downgrades:

Issuer: Covia Holdings Corporation

Probability of Default Rating, Downgraded to B3-PD from B1-PD

Corporate Family Rating, Downgraded to B3 from B1

Senior Secured Bank Credit Facility, Downgraded to B3 (LGD3) from
B1 (LGD3)

Outlook Actions:

Issuer: Covia Holdings Corporation

Outlook, Changed To Stable From Negative

RATINGS RATIONALE

Covia's B3 CFR reflects, its elevated debt leverage, exposure to
NWS, low profitability levels, weak credit metrics and the
persistent weakness in the frac sand industry. At the same time,
Moody's takes into consideration the company's market position as
the largest producer of frac and industrial / specialty sand in the
US, its distribution capability, its product mix and an adequate
liquidity profile. For year-end December 31, 2019 and 2020, Moody's
forecasts debt-to-EBITDA of 7.8x and 7.4x, respectively (inclusive
of Moody's adjustments).

The stable outlook reflects Moody's expectations that Covia's
industrial sand segment and its sizable cash position will provide
relative operating and financial stability during the on-going
volatility in the oil & gas end market. Although, Moody's does not
expect Covia's operating metrics to improve during the first half
of 2020, the rating agency believes the company will be free cash
flow positive and will continue to maintain an adequate liquidity
profile.

Covia's SGL-3 Speculative Grade Liquidity Rating reflects the
company's adequate liquidity profile resulting from its ability to
fund from cash on hand and from internal sources its operations,
service its debt and deploy capital. Liquidity is supported by $340
million of cash and lack of near-term debt maturities, as its $1.6
billion term loan matures in 2025. In addition, Moody's liquidity
analysis assumes that the company will cancel it $200 million
revolving credit facility given the high probability Covia may
trigger the maximum leverage ratio test, which is the principal
financial covenant under the existing revolving credit facility.
The maximum leverage ratio covenant test of 6.6x steps down on
January 1, 2020 to 5.5x for December 31, 2020 and gradually
declines to 4.0x at March 31, 2022.

The rating could be upgraded if (all ratios include Moody's
standard adjustments):

  -- Debt-to-EBITDA is expected to remain below 6.0x for a
sustained period of time

  -- EBIT-to-Interest expense is expected to be above 1.5x for a
sustained period of time

  -- Adjusted operating margin is sustained above 5%

  -- The company improves its free cash flow and maintains a good
liquidity profile

The rating could be downgraded if:

  -- Debt-to-EBITDA is expected to remain above 7.5x for a
sustained period of time

  -- EBITA-to-Interest expense is expected to be below 1.0x for a
sustained period of time

  -- Any further deterioration in operating margins

  -- Deterioration in the company's liquidity profile

Governance risks Moody's consider in Covia's credit profile include
a more aggressive financial policy. Although unlikely given
management's primary focus is to de-lever the balance sheet, Covia
may choose to take on additional leverage to pursue growth
opportunities or repurchase its own shares. In addition, Covia is
controlled by Sibelco (SCR-Sibelco NV), which has a 65% ownership
stake in Covia. Centralized ownership and voting control could be
viewed as potential negative influence. However, in the case of
Covia, Moody's believes these risks are largely mitigated because
the company is publicly traded on the NASDAQ and must abide by high
level of disclosures. Separately, Covia's operations and those of
its clients are subject to extensive federal, state and local
environmental requirements relating to the protection of the
environment, natural resources and human health and safety.
Regulation relating to climate change, clean water and the emission
of greenhouse gasses could result in increased operating costs over
time.

The principal methodology used in these ratings was Building
Materials published in May 2019.

Based in Independence, Ohio, Covia is a leading provider of
specialty sands and minerals serving the energy and industrial end
markets. The company has approximately 50 million tons of annual
processing capacity. In June 2018, Unimin Corporation and Fairmount
Santrol, Inc. combined in a cash and stock transaction to create
Covia, with Sibelco as the largest shareholder. Sibelco is a
privately held, globally-diversified, industrial minerals company
based in Belgium. Covia is currently organized into two segments:
(1) energy (oil & gas), which serves the oil & gas exploration and
production industry, and (2) the industrial segment, which serves
the industrial end markets (foundry, automotive, glassmaking,
filtration industries, etc.).


COWBOY PUMPING: Seeks Authority to Use Interbank Cash Collateral
----------------------------------------------------------------
Cowboy Pumping Unit Sales & Repair, LLC seeks authority from the
U.S. Bankruptcy Court for the Western District of Oklahoma to use
cash collateral in the ordinary course of its business.

The Debtor needs to use the proceeds from its account collections
to pay normal operating expenses in order to maintain its current
business operations. Additionally, the Debtor has an immediate need
to fund payroll expenses and other overhead expenses related to the
ordinary course of its business, as well as to pay the
professionals retained by the Debtor to assist it in its
reorganization efforts.

Interbank holds a claim against the Debtor in the approximate
amount of $13,000,000 secured by substantially all of Debtor's
assets, including the proceeds therefrom.

The Debtor proposes the following forms of adequate protection,
subject to approval by the Court:

     (a) The Debtor will only expend cash collateral for the items
set forth in the Budget, which will also include a variance of 10%
each month, which variance will be comprised of any one or more
line-item expenses;

     (b) The Debtor will provide Interbank with a replacement lien,
subject only to prior non-avoidable liens, in all of Debtor's
assets, excluding only causes of action arising under chapter 5 of
the Bankruptcy Code; and

     (c) The Debtor will provide Interbank with a monthly
budget-to-actual variance report.

A copy of the Motion is available for free at
https://tinyurl.com/rno4q68 from Pacermonitor.com

                   About Cowboy Pumping Unit

Cowboy Pumping Unit Sales & Repair, LLC, disassembles, repairs,
moves or reassembles any pumping unit equipment.  It was created to
provide service to oil and gas operators that have pumping units in
Central and Northwest Oklahoma.

Cowboy Pumping Unit Sales & Repair filed a voluntary petition under
Chapter 11 of the Bankruptcy Code (Bankr. W.D. Okla. Case No.
19-14561) on Nov. 7, 2019. In the petition signed by Tom Holder,
vice-president, the Debtor estimated $50,000 in assets and $10
million to $50 million in liabilities. Stephen J. Moriarty, Esq.,
at Fellers, Snider, Blankenship, Bailey & Tippens, P.C., is the
Debtor's counsel.



CPI CARD: Will Appeal Nasdaq Delisting Decision
-----------------------------------------------
CPI Card Group Inc. intends to request a hearing before the Nasdaq
Hearings Panel, which request will stay any suspension or delisting
action by Nasdaq at least pending the ultimate conclusion of the
hearing process.  

CPI Card received notice on Nov. 21, 2019, from the Listing
Qualifications Staff of The Nasdaq Stock Market LLC indicating that
the Company's continued non-compliance with the minimum $35 million
market value of listed securities requirement, as set forth in
Nasdaq Listing Rule 5550(b)(2), would serve as a basis for the
delisting of the Company's securities from The Nasdaq Capital
Market unless the Company timely requests a hearing before the
Nasdaq Hearings Panel.

At the hearing, the Company will present its plan to regain
compliance with the Rule and request a period of time to do so. The
Company is working with its advisors to prepare a plan of
compliance to be presented to the Panel.

The Company said it is diligently working to satisfy the applicable
requirements for continued listing on The Nasdaq Capital Market;
however, there can be no assurance that the Panel will grant the
Company's request for continued listing or that the Company will
evidence compliance with the Rule and continued compliance with all
other applicable listing criteria within the period of time that
may be granted by the Panel.

                         About CPI Card

CPI Card Group -- http://www.cpicardgroup.com-- is a payment
technology company and provider of credit, debit and prepaid
solutions delivered physically, digitally and on-demand.  CPI helps
its customers foster connections and build their brands through
innovative and reliable solutions, including financial payment
cards, personalization and fulfillment, and Software-as-a-Service
(SaaS) instant issuance.  CPI has more than 20 years of experience
in the payments market and is a trusted partner to financial
institutions and payments services providers.  Serving customers
from locations throughout the United States, CPI has a large
network of high security facilities, each of which is registered as
PCI Card compliant by one or more of the payment brands: Visa,
Mastercard, American Express and Discover.

CPI Card reported a net loss of $37.46 million in 2018, following a
net loss of $22.01 million in 2017.  As of Sept. 30, 2019, the
Company had $213.74 million in total assets, $363.88 million in
total liabilities, and a total stockholders' deficit of $150.14
million.

                        *   *    *

As reported by the TCR on April 4, 2018, Moody's Investors Service
downgraded its ratings for CPI Card Group Inc., including the
company's Corporate Family Rating (to Caa1, from B3) and
Probability of Default Rating (to Caa1-PD, from B3-PD).  Moody's
said the downgrades broadly reflect continued uncertainty about
whether CPI can return to revenue and profit growth over the next
12 to 18 months, and an earnings and cash flow profile that can
adequately support the company's heavy debt burden.

In June 2019, S&P Global Ratings affirmed its 'CCC+' issuer credit
rating on CPI Card.  "The affirmation reflects our view that
despite improving trends, CPI's operating performance will remain
weak and the capital structure unsustainable," S&P said."


CREATIVE GLOBAL: Seeks to Obtain $20K of Unsecured Debt from CEO
----------------------------------------------------------------
Creative Global Investment Inc. seeks authority from Judge Sandra
R. Klein to obtain additional post-petition financing (a fourth DIP
Loan) of up to $20,000 on a general unsecured basis from Dong Yeoun
Lee, the Debtor's Chairman, Chief Executive Officer and sole
shareholder.  The Debtor intends to use the additional DIP
financing on an as-needed basis to cover shortfalls in the Debtor's
13-week operating budget covering the period from December 16, 2019
through and including March 15, 2020.

The Fourth DIP Loan has been offered by Mr. Lee on an interest-free
basis.  The Court will consider the request at the hearing on Dec.
11, 2019 at 9 a.m.  

A copy of the Motion is available at https://is.gd/Chs6bD  from
PacerMonitor.com free of charge.  

                About Creative Global Investment

Creative Global Investment Inc. is a privately held company engaged
in financial investment activities.  Creative Global Investment
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
C.D. Cal. Case No. 19-13044) on March 20, 2019.  At the time of the
filing, the Debtor disclosed $36,691 in assets and $5,388,873 in
liabilities.  The case has been assigned to Judge Sandra R. Klein.
Levene, Neale, Bender, Yoo & Brill LLP is the Debtor's legal
counsel.


D & M LOGISTICS: Seeks Permission to Use Cash Collateral
--------------------------------------------------------
D & M Logistics, LLC, seeks permission from the US Bankruptcy Court
for the Northern District of Texas to use cash collateral to fund
the operation of its business.

Before the Petition Date, the Debtor entered into a factoring and
security agreement with Triumph Business Capital. The Factoring
Agreement grants Triumph an ownership interest in the purchased
accounts and a first-priority security interest in presently owned
and thereafter acquired accounts, chattel paper, deposit accounts,
inventory, equipment, instruments, investment property, documents,
letter of credit rights, commercial tort claims, and general
intangibles.

The Debtor wishes to continue the Factoring Agreement with Triumph
on a postpetition basis. The Factoring Agreement will continue to
function as it did during the prepetition period. Specifically, the
Factoring agreement allows Debtor to sell to Triumph receivables
under the terms of the Factoring Agreement. The reserve funds will
continue to be held in the reserve account. Triumph will be
permitted to debit the reserve account to cover the Debtor's
obligations due under the Factoring Agreement. Triumph will be
granted a security interest in the presently owned and thereafter
acquired Collateral.  

The Debtor additionally requests that it be authorized to grant a
lien to Triumph in the Debtor's post-petition accounts, accounts
receivable, and proceeds thereof pursuant to 364(c)(2) to secure
the Debtor's obligations under the Factoring Agreement. Aside from
Triumph's existing security interest in the Debtor's accounts,
accounts receivable and proceeds based on the existing Factoring
Agreement, the Receivables are not subject to any other liens.

The Debtor further requests that the Court grant Lender valid,
perfected, and enforceable new liens and security interests on all
post-petition accounts, accounts receivable and proceeds thereof to
the extent of any diminution in value of cash collateral caused by
the Debtor’s use of it.

A copy of the Motion is available for free at
https://tinyurl.com/tepa3x5 from Pacermonitor.com

                     About D & M Logistics

D & M Logistics, LLC, provides long haul trucking services
throughout the continental United States.

Based in Azle, Texas, D & M filed a voluntary bankruptcy petition
under Chapter 11 of Title 11 of the United States Code (Bankr. N.D.
Tex. Case No. 19-44476) on November 1, 2019, listing under $1
million in both assets and liabilities.  The petition was signed by
Denis Melic, managing member. Warren V. Norred at Norred Law, PLLC
represents the Debtor.


DAYTON PORT: S&P Suspends 'B+' LT Rating on 2016A Revenue Bonds
---------------------------------------------------------------
S&P Global Ratings suspended its 'B+' long-term rating on Dayton
Port Authority, Ohio's multifamily housing revenue bonds (AHA-McLin
Housing Project), series 2016A. S&P Global Ratings also suspended
its 'CCC' rating on Port of Greater Cincinnati Development
Authority, Ohio's multifamily housing revenue bonds (AHA-Colonial
Village/Athens Gardens Project), series 2015A and 2015 A-T.

The ratings were placed on CreditWatch with negative implications
on Aug. 30, 2019, based on uncertainty on the transactions'
financial performance due to the projects' highly vulnerable
financial position, and S&P's inability to verify the current net
cash flow of the projects, which S&P uses to calculate debt service
coverage on rated bonds as part of its criteria.

Due to the highly vulnerable financial position of the bonds, it is
essential to review audited financial statements to maintain S&P's
rating on the bonds. S&P has failed to receive audited financial
statements for fiscal 2018 for the AHA-McLin Housing Project and
AHA-Colonial Village/Athens Gardens Project during the CreditWatch
time frame. Furthermore, the projects have posted to Electronic
Municipal Market Access (EMMA) notices of failure to file annual
reports on June 4, 2019. Also, on Oct. 8, 2019, Affordable Housing
America disclosed on EMMA nonpayment-related notices of event of
default, due to the failure to provide fiscal year 2018 audited
financial statements to the trustee for the bonds.

"If we receive information that we consider sufficient and of
satisfactory quality, we will conduct a review and take appropriate
rating action," said S&P Global Ratings credit analyst Jose Cruz.


DPL INC: S&P Cuts Issuer Credit Rating to 'BB'; Outlook Negative
----------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on DPL Inc. and
Dayton Power and Light Co. (DP&L) to 'BB' from 'BBB-' after the
Public Utilities Commission of Ohio (PUCO) issued an order,
effectively invalidating key components of DPL's electric security
plan (ESP), which had included a distribution modernization rider
(DMR).

S&P assigned a recovery rating of '3' to DPL's senior unsecured
debt. S&P's recovery rating on DP&L's first-mortgage bonds remains
'1+'. As such, S&P lowered the rating on DPL's senior unsecured
debt to 'BB', and lowered its issue-level rating on DP&L's
first-mortgage bonds to 'BBB'.

"Our decision to downgrade DPL Inc. and its subsidiary follows the
PUCO decision, which effectively invalidated the DMR for subsidiary
DP&L.   We expect the impact of the PUCO order to weaken DP&L's
financial measures materially, indicative of a highly leveraged
entity," S&P said.

"In addition, the PUCO decision is not consistent with our prior
base case expectation, and in our view, suggests ineffective
regulatory risk management on the part of DPL, warranting a
lowering of our business risk profile assessment of both DPL and
its subsidiary. The combination of these factors results in a
two-notch downgrade for DPL and DP&L," the rating agency said.

The negative ratings outlook on DPL and DP&L reflects risk
concerning the ability of DPL to control the execution of its
future regulatory strategy given the PUCO's invalidation of the
DMR. In addition, the negative outlook also reflects uncertainty
regarding the company's ability to scale back its capital spending
in a manner that preserves credit quality. Under S&P's base case
scenario, it expects FFO to debt of about 7.5%, indicative of
minimal cushion at the current rating level.

"We could lower our ratings on DPL and DP&L within the next twelve
months by one or more notches if we conclude that DPL is unable
implement rates consistent with its ESP 1 framework, the company
does not materially reduce its capital spending in-line with our
base case assumptions, the company does not generate positive
discretionary cash-flow, or FFO to debt consistently weakens to
below 7%," S&P said.

"We could revise our outlook on DPL and DP&L to stable within the
next twelve months if DPL is able to execute a durable regulatory
strategy that stabilizes ratings at the current level, the company
reduces its capital spending to below $100 million annually,
generates positive discretionary cash-flow, and FFO to debt is
consistently above 7%," the rating agency said.


ELK CITY LODGING: Gets Interim Access to Cash Thru Jan. 2020
------------------------------------------------------------
Judge Sarah A. Hall authorized Elk City Lodging, LLC to use cash
collateral through Jan. 15, 2020, based on a budget, a copy of
which is available as Exhibit 1 to the Interim Order at
https://is.gd/8YUVBl  from PacerMonitor.com free of charge.

The Court ruled that the Secured Lender is granted valid, binding,
enforceable, and perfected liens co-extensive with the Secured
Lender's pre-petition liens in all property and assets of the
Debtor.  The Secured Lender, moreover, is granted replacement liens
and security interests, coextensive with its prepetition liens, as
adequate protection for the diminution in the value of its
interests.

                      About Elk City Lodging

Elk City Lodging, LLC, d/b/a Comfort Inn & Suites, is a privately
held company in Elk City, Oklahoma, that operates in the hotel and
lodging industry.  

Elk City Lodging filed a Chapter 11 bankruptcy petition (Bankr.
W.D. Okla. Case No. 19-13945) on Sept. 26, 2019 in Oklahoma City,
Oklahoma.  In the petition signed by CEO Kumar Khemlani, the Debtor
was estimated to have both assets and liabilities at $1 million to
$10 million.  Judge Sarah A. Hall is assigned the case.  JOYCE W.
LINDAUER ATTORNEY, PLLC, is the Debtor's counsel.


EMPORIA PROPERTY: Committee Taps Sandberg Phoenix as Legal Counsel
------------------------------------------------------------------
The official committee of unsecured creditors of Emporia Property
Group LLC seeks approval from the U.S. Bankruptcy Court for the
District of Kansas to retain Sandberg Phoenix & von Gontard P.C. as
its legal counsel.
   
The firm will provide these services to the committee in connection
with the Debtor's Chapter 11 case:

     (a) advise the committee of its rights and obligations under
the Bankruptcy Code;

     (b) preparation and filing of any motions, objections or other
pleadings and documents that may be required in the Debtor's case;


     (c) representation of the committee at the meeting of
creditors and hearings on confirmation of a plan of
reorganization;

     (d) representation of the committee in adversary proceedings
and other contested bankruptcy matters; and

     (e) representation of the committee in other matters that may
arise in connection with the Debtor's reorganization proceeding and
business operations.

Sharon Stolte, Esq., the firm's attorney who will be handling the
case, charges an hourly fee of $350.  The hourly rate for paralegal
services is $150.

Ms. Stolte and her firm are "disinterested" within the meaning of
Section 101(14) of the Bankruptcy Code, according to court
filings.

Sandberg Phoenix can be reached through:

     Sharon L. Stolte, Esq.
     Sandberg Phoenix & von Gontard P.C.
     4600 Madison Avenue, Suite 1000
     Kansas City, MO 64112
     Phone: 816-627-5543
     Fax: 816-627-5532
     Email: sstolte@sandbergphoenix.com

                   About Emporia Property Group

Emporia Property Group LLC owns in fee simple a hotel property
located at 2700 W. 18th Avenue, Emporia, Kansas, having an
appraised valued of $3.05 million. The Clarion Inn & Conference
Center hotel -- https://www.emporiaclarion.com/ -- is 100%
non-smoking and pet-friendly hotel located nearby Emporia State
University, and businesses that include Tyson, Emporia Energy
Center Westar, and Hostess Brands.

Emporia Property Group filed a Chapter 11 petition (Bankr. D. Kan.
Case No. 19-22155) on Oct. 8, 2019.  In the petition signed by Lee
Jones, authorized representative, the Debtor disclosed $3,236,648
in assets and $6,406,053 in liabilities.

The case is assigned to Judge Dale L. Somers.

The Debtor tapped Evans & Mullinix, P.A. as legal counsel; Peterson
Whitaker & Bjork as accountant; and Ten-X, LLC as auctioneer.

The Office of the U.S. Trustee appointed creditors to serve on the
official committee of unsecured creditors on Nov. 16, 2019.  The
committee is represented by Sandberg Phoenix & von Gontard P.C.


ENTERPRISE CHARTER: Fitch Affirms B+ Rating on $6.4MM 2011A Bonds
-----------------------------------------------------------------
Fitch Ratings affirmed the following revenue bonds issued by the
Buffalo and Erie County Industrial Land Development Corporation on
behalf of the Enterprise Charter School at 'B+':

--  $6,485,000 revenue bonds (Enterprise Charter School Project),
series 2011A.

The Rating Outlook is Stable.

In addition, Fitch has assigned an Issuer Default Rating (IDR) of
'B+' to Enterprise Charter School (ECS).

The Rating Outlook on the IDR is Stable.

SECURITY

The bonds are secured by a pledge of the gross revenues of ECS, a
first mortgage lien on the school's facilities, assignment of rents
and leases receivable, and a cash-funded debt service reserve fund
sized to maximum annual debt service (MADS).

ANALYTICAL CONCLUSION

The 'B+' IDR and revenue bond ratings are driven by the asymmetric
risk related to concerns about the school's ability to retain its
charter. The current two-year term follows a history of short-term
charter renewals, with six consecutive charter renewals for periods
between one and three years. The school's financial performance
could support a higher rating; it has been stable over the last
several years and reflects stable enrollment at the authorized
capacity and prudent budget management.

KEY RATING DRIVERS

Revenue Defensibility -- Midrange: The midrange assessment reflects
ECS's history of stable enrollment and strong waitlist, offset by
weak academic performance compared with both local public school
district and state averages.

Operating Risk -- Midrange: Fitch believes ECS has midrange
flexibility to vary costs with enrollment shifts and expects fixed
carrying costs for debt service and pension contributions to remain
moderate.

Financial Profile -- 'bbb': ECS's leverage metrics are consistent
with a 'bbb' assessment in Fitch's forward-looking rating case.

Asymmetric Additional Risk Considerations: Charter renewal risk --
ECS's current two-year charter term, which is less than the
standard five-year renewal term and even the typical short-term
renewal (three years), follows a history of short renewal terms.
Fitch views the short term renewal as an asymmetric risk as a
deficiency in meeting performance and academic benchmark
targets/indicators set forth by the Board of Regents raises the
risk of school charter nonrenewal.

RATING SENSITIVITIES

CHARTER RENEWAL: Failure to improve student performance indicators
outlined in Benchmark One of the Board of Regents Charter School
Performance Framework would increase the risk of nonrenewal in 2021
and could result in downward rating pressure. Renewal of the
school's charter for a five-year term in 2021 could support
positive rating movement.

ENROLLMENT TRENDS: A significant decline in enrollment could lead
to concerns about demand, which could affect charter renewal
prospects.

CREDIT PROFILE

Enterprise Charter School opened in 2003 in the city of Buffalo,
NY. It currently serves 405 students in grades K-8. ECS is
authorized by the local school district, Buffalo Public Schools
(BPS), and has had its charter renewed six times to date, albeit
for varying durations. Its current charter was renewed in 2019 for
a two-year term, expiring on June 30, 2021. The short renewal was
due to continued deficiencies in meeting academic performance
benchmark/indicators.

Revenue Defensibility

ECS's midrange revenue defensibility is driven by a history of
enrollment at capacity and strong demand flexibility, offset by
academic performance below district and statewide averages. Typical
of the charter school sector, revenue defensibility is limited by
the inability to control pricing as the schools main revenue source
is derived from per pupil revenue from the state.

ECS's academic results are below local school district averages and
very weak when compared with statewide results. Despite the weaker
academic performance, ECS has had solid demand and a strong
enrollment history. The school's enrollment has consistently been
at the charter authorized capacity (405) during the last 12
academic years. Demand is further evidenced by a waitlist of over
30% annually.

Fitch expects per-pupil funding to grow at approximately the rate
of inflation, consistent with school districts in the state.

Operating Risk

Fitch considers ECS's operating risk profile to be midrange, based
on the school's moderate fixed carrying costs and the flexibility
to control other expenditures. ECS has well-identified cost drivers
that have some potential volatility.

Management's strong degree of control in managing its workforce
costs, which are not governed by collective bargaining agreements,
contributes to adequate expenditure flexibility. However, there are
limitations on the ability to reduce teacher headcount, since doing
so could impair already weak academic performance, potentially
reducing student demand and increasing costs. Fitch recognizes that
management can control salaries and reduce some other costs in a
recessionary period, supporting the midrange operating risk
assessment.

ECS's fixed carrying costs for maximum annual debt service (MADS)
and pension contributions are moderate at 15.6% of 2019
expenditures. The school participates in two state-sponsored
cost-sharing multiple employee defined benefit pension plans, the
New York State Teachers' Retirement System (TRS) and New York State
and Local Employees' Retirement System (ERS). Required pension
contributions were 5.4% of expenditures in fiscal 2019, in line
with the school's five year average of 6%. MADS represented
approximately 10.2% of fiscal 2019 expenditures. Fitch expects
carrying costs to remain in the moderate range, given strong New
York State pension funding practices and natural expenditure
growth.

In FY 2020, the school's budget includes approximately $350,000 in
capex, mainly associated with technology upgrades including the
schools PA system.

Financial Profile

ECS's leverage is consistent with a 'bbb' assessment given the
school's midrange revenue defensibility and operating risk
assessments. The 'bbb' financial profile assessment reflects ECS's
metrics in Fitch's rating case scenario.

Fitch's leverage metrics include the principal amount outstanding
on ECS's debt and Fitch-calculated net pension liability (NPL).
Fitch estimates the school's NPL for each the TRS and ERS plan by
allocating a portion of each plan's Fitch-adjusted net liability
using a ratio of ECS's annual contributions relative to the total
contribution for each plan. The Fitch-adjusted NPL assumes a 6%
discount rate, which is lower than both plans' reported discount
rates.

Fiscal 2019 net debt to cash flow available for debt service
(CFADS) was 3.6x, down from 4.7x in fiscal 2017. Fitch's base case
scenario incorporates ECS's recent positive operating margins and
stable cash flow, which have gradually increased unrestricted cash
balances and reduced net debt. The base case assumes growth in
operating revenues (excluding rental income) and expenditures
(excluding non-cash items, interest and pension expense) at about
the rate around inflation. Fitch assumes non-operating revenues
remain flat. In this scenario, ECS's net debt to CFADS remains in
line with prior years.

Fitch's rating case incorporates a revenue stress utilizing Fitch
Analytical Stress Test (FAST) - States & Locals. In Fitch's
scenario, a 1% GDP decline results in a -1% operating revenue
(excluding rental income) decline in year one, followed by flat
revenue growth in year two and a revenue recovery of 1% in the
third year. Fitch assumes that expenditures (excluding non-cash
items, interest and pension expense) would increase by 2% in the
first year of the rating case, but that the school would be able to
decrease expenditure growth in the second and third years to 1%. In
this scenario, ECS's net debt to CFADS increases to levels that
remain consistent with a 'bbb' financial profile assessment
throughout the scenario period.

Asymmetric Additional Risk Considerations

Fitch views the unusually short, two-year charter renewal as an
asymmetric risk. The short renewal is due to a deficiency in
meeting performance and academic benchmark targets/indicators set
forth by the Board of Regents. Fitch believes this level of concern
by the authorizer indicates a heightened risk of school closure.

ECS's charter was most recently renewed in May 2019 for a term
beginning on July 1, 2019 and ending June 30, 2021. The current
two-year charter term follows a history of short-term renewals at
ECS; the school has not been granted a standard full five-year
renewal term since its initial charter authorization in 2003.
During the most recent renewal period, and consistent with prior
periods, the Board of Regents noted that ECS continues to fall
below Buffalo Public School District and State averages for both
ELA and Math for all students.

The Board of Regent's Charter School Performance Framework and
Charter renewal policy considers increases in student academic
achievement for all groups of students as the most important factor
when determining renewal. The most recent renewal was based on
assessment proficiency outcomes during academic year 2017-2018 and
the prior two years.

For the school's 2021 charter renewal, the Board of Regents
Performance Framework will assess student performance based on
academic results in the 2018-2019 and 2019-2020 school years.
Actual results for 2018-2019 were mixed, with ELA proficiency
scores declining and math improving marginally. However, the
school's New York State Every Student Succeeds Act (ESSA)
accountability status for 2018-19 improved to 'Good Standing' from
'Priority School' in the prior year.


EP ENERGY: Seeks Court Approval of Backstop Agreement to Fund Plan
------------------------------------------------------------------
EP Energy Corporation and its debtor-affiliates submitted an
omnibus reply to objections to the Motion of Debtors for an order
authorizing entry into Backstop Commitment Agreement.

The Debtors assert that they ran an exhaustive process, overseen
and approved by a special committee of three independent directors
exploring various alternatives with all of its borrowed money
stakeholders and third-party financing sources, before agreeing to
enter into the Backstop Commitment Agreement. The Backstop
Agreement provides for a rights offering of up to $475 million, of
which $463 million is backstopped.

The Ad Hoc Group has admitted in discovery that no member of the Ad
Hoc Group has committed to backstop its proposal and that it is
still subject to diligence. The UCC, whose constituents,
unfortunately, sit behind at least $4.2 billion of secured debt,
have no choice but to delay and distract to try to extract some
value from the Supporting Noteholders. Given the Objectors'
motivations, the Objections resort to ignoring the weight of
evidence supporting the Debtors' decision to enter into the
Backstop Agreement for the benefit of all stakeholders and,
therefore, should be overruled, the Debtors maintain.

The Ad Hoc Group's allegations that the Debtors' restructuring
process was subject to conflicted governance or somehow controlled
by their equity sponsor are baseless and unsupported by any
evidence, the Debtors counter. The Debtors' restructuring process
is led by a special committee composed of unassailably independent
directors advised by experienced legal and financial
professionals.

The Debtors' sole focus is to secure the $463 million equity
commitment from the Supporting Noteholders. The Debtors are seeking
approval of the Backstop Agreement that will provide a funding
mechanism under the Plan, the benefits of which far outweigh the
alleged burdens.

Furthermore, the Debtors aver that their agreement to the backstop
and other fees was necessary to induce the Supporting Noteholders
to support and fund these transactions. Indeed, the most vocal
Objectors to such fees - the Ad Hoc Group - is touting an
alternative transaction with materially higher commitment fees, but
apparently have a different view of backstop fees when they cannot
share in them.

A full-text copy of the objection is available at
https://tinyurl.com/ubors6o from PacerMonitor.com at no charge.

The Debtors are represented by:

WEIL, GOTSHAL & MANGES LLP
Alfredo R. Pérez (15776275)
Clifford W. Carlson (24090024)
700 Louisiana Street, Suite 1700
Houston, Texas 77002
Telephone: (713) 546-5000
Facsimile: (713) 224-9511
Email: Alfredo.Perez@weil.com
Clifford.Carlson@weil.com

  - and -

WEIL, GOTSHAL & MANGES LLP
Matthew S. Barr (admitted pro hac vice)
Ronit Berkovich (admitted pro hac vice)
Scott R. Bowling (admitted pro hac vice)
David J. Cohen (admitted pro hac vice)
767 Fifth Avenue
New York, New York 10153
Telephone: (212) 310-8000
Facsimile: (212) 310-8007
Email: Matt.Barr@weil.com
Ronit.Berkovich@weil.com
Scott.Bowling@weil.com
DavidJ.Cohen@weil.com

               About EP Energy

EP Energy Corporation and its direct and indirect subsidiaries(OTC
Pink: EPEG) -- http://www.epenergy.com/-- are a North American oil
and natural gas exploration and production company headquartered in
Houston, Texas. The Debtors operate through a diverse base of
producing assets and are focused on the development of drilling
inventory located in three areas: the Eagle Ford shale in South
Texas, the Permian Basin in West Texas, and Northeastern Utah.

EP Energy Corporation and its subsidiaries sought Chapter 11
protection on Oct. 3, 2019, after reaching a deal with Elliott
Management Corporation, Apollo Global Management, LLC, and certain
other noteholders on a bankruptcy exit plan that would reduce debt
by 3.3 billion.

The lead case is In re EP Energy Corporation (Bankr. S.D. Tex. Lead
Case No. 19-35654).

EP Energy was estimated to have $1 billion to $10 billion in assets
and liabilities as of the bankruptcy filing.

The Hon. Marvin Isgur is the case judge.

The Debtors tapped Weil, Gotshal & Manges LLP as counsel; Evercore
Group L.L.C. as investment banker; and FTI Consulting, Inc., as
financial advisor.  Prime Clerk LLC is the claims agent.


EVEN STEVENS: Examiner Taps Kotzin Valuation as Assistant
---------------------------------------------------------
Lynton Kotzin, the examiner appointed in the Chapter 11 cases of
Even Stevens Sandwiches, LLC and its affiliates, received approval
from the U.S. Bankruptcy Court for the District of Arizona to hire
Kotzin Valuation Partners, LLC.

Mr. Kotzin needs the firm's assistance to discharge the duties
assigned to him as examiner by the bankruptcy court.  The firm's
hourly rates are:

     Managing Partner   $370
     Partner            $290
     Manager            $235
     Senior Consultant  $200
     Consultant         $180

Kotzin Valuation neither holds nor represents any interest adverse
to the Debtors and their bankruptcy estates, according to court
filings.

The firm can be reached at:

     Lynton Kotzin
     Kotzin Valuation Partners
     2800 N. Central Ave., Suite 1725
     Phoenix, AZ 85004
     Phone: 602-544-3550
     Fax: 602-544-3570

                         About Even Stevens Sandwiches

Even Stevens Sandwiches, LLC opened its first restaurant in
downtown Salt Lake City, Utah, in June 2014. It has eight operating
locations: seven in Utah and one in Idaho.

Even Stevens Sandwiches and its affiliates each filed voluntary
Chapter 11 petitions (Bankr. D. Ariz. Lead Case No. 19-03236) on
March 21, 2019.  At the time of the filing, the Debtor estimated
$1,000,001 to $10 million in both assets and liabilities.

Pernell W. McGuire, Esq., at Davis Miles Mcguire Gardner, PLLC, is
the Debtor's legal counsel.


EVEN STEVENS: Examiner Taps Polsinelli PC as Legal Counsel
----------------------------------------------------------
Lynton Kotzin, the examiner appointed in the Chapter 11 cases of
Even Stevens Sandwiches, LLC and its affiliates, received approval
from the U.S. Bankruptcy Court for the District of Arizona to
retain Polsinelli, P.C. as his counsel.

The services to be provided by the firm include assisting the
examiner in the discharge of his duties assigned by the court, and
preparing legal papers in connection with the case.

Polsinelli's hourly rates are:

     Shareholders   $425 - $840
     Associates     $320 - $505
     Paralegals     $175 - $320

The firm's hourly rates for the attorneys are:

     John R. Clemency   $625
     Janel M. Glynn     $515
     Michael Mazzella   $370

John Clemency, Esq., at Polsinelli, attests that his firm neither
holds nor represents any interest adverse to the Debtors, creditors
or any party.

The firm can be reached through:

     John R. Clemency, Esq.
     Polsinelli P.C.
     One E. Washington, Suite 1200
     Phoenix, AZ 85004
     Tel: (602) 650-2000
     Fax: (602) 264-7033
     Email: jclemency@polsinelli.com

                         About Even Stevens Sandwiches

Even Stevens Sandwiches, LLC opened its first restaurant in
downtown Salt Lake City, Utah, in June 2014. It has eight operating
locations: seven in Utah and one in Idaho.

Even Stevens Sandwiches and its affiliates each filed voluntary
Chapter 11 petitions (Bankr. D. Ariz. Lead Case No. 19-03236) on
March 21, 2019.  At the time of the filing, the Debtor estimated
$1,000,001 to $10 million in both assets and liabilities.

Pernell W. McGuire, Esq., at Davis Miles Mcguire Gardner, PLLC, is
the Debtor's legal counsel.


EVOLUTION ACADEMY CHARTER SCHOOL: S&P Ups Rev. Bonds Rating to 'B'
------------------------------------------------------------------
S&P Global Ratings raised its rating to 'B' from 'B-' on Texas
Public Finance Authority Charter School Finance Corp.'s series
2010A and B education revenue bonds and series 2010Q taxable
education revenue bonds (qualified school construction
bonds--direct pay), all issued for Evolution Academy Charter
School. The outlook is positive.

"The upgrade reflects Evolution Academy's improving operating
performance, which resulted in a healthy surplus in fiscal 2018 and
is projected to be positive again in fiscal years 2019 and 2020
according to management," said S&P Global Ratings credit analyst
Brian Marshall. It also supports improved maximum annual debt
service (MADS) coverage, and a moderate increase in liquidity,
which should continue to gradually rise as operations strengthen.

The 'B' rating further reflects S&P's view of Evolution Academy's:

-- Low, albeit improving, liquidity of 35 days' cash on hand based
on fiscal 2018 financial statements, which is improved from 17.7
days at fiscal 2017 year-end and is expected to increase moderately
in fiscal 2019 and fiscal 2020;

-- Recent decline in enrollment for fall 2019 following families
relocating due to Hurricane Imelda with no waitlist for fall 2018
or fall 2019;

-- Relatively high student turnover and low retention rates
resulting from servicing the school's target demographic of at-risk
students; and

-- Risk of charter revocation or nonrenewal before the bonds'
maturity, which is shared by all charters operating in the state.

Partially mitigating the preceding credit factors, in S&P's
opinion, are Evolution Academy's:

-- Solid growth in virtual/ distance learning enrollment, which
partially mitigates recent declines at the Beaumont campus
following Hurricane Imelda; and

-- Recently improved operating performance resulting in close to
break-even margins and good debt service coverage for the rating.

The positive outlook reflects S&P's view that the school's improved
operating performance will likely continue through fiscal 2020,
resulting in operating margins and DSC levels that are commensurate
with a higher rating. Furthermore, S&P believes liquidity could
increase moderately over the next few years if operations meet
expectations. Its outlook also assumes no additional growth-related
debt will be issued.

"We could raise the rating if management can maintain MADS coverage
near current levels while increasing operating liquidity to levels
commensurate with a higher rating. We would also view positively
stabilization in enrollment at Evolution Academy's Richardson
campus," S&P said.

"We could lower the rating or revise the outlook to stable during
the one-year outlook period if operating liquidity or operating
performance weaken. In addition, any declines in enrollment could
lead to a negative rating action," the rating agency said.


EXELA TECHNOLOGIES: S&P Lowers ICR to CCC-; Outlook Negative
------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Irving,
Texas-based Exela Technologies Inc. to 'CCC-' from 'CCC+' with
negative outlook, and lowered its issue-level rating on the
company's senior secured debt to 'CCC-' from 'CCC+'.

Given deteriorating liquidity, Exela plans to sell noncore assets
and use proceeds toward early debt repayment.  The company
generated negative $36 million of free operating cash flow deficits
in the third quarter, bringing total liquidity down to $50 million.
Balance sheet cash declined to $10 million, with revolver
availability of $40 million. Exela has stated its intention to sell
noncore assets to boost liquidity, with proceeds expected between
$150 million to $200 million over the next 2 years. S&P expects the
company to make steady progress over the next 6 months. The company
plans to use proceeds to repay debt in an effort to right size the
capital structure. Given the deeply distressed trading levels of
the company's term loan and senior secured notes, S&P sees the most
likely outcome would be a subpar or distressed debt exchange, which
could be viewed as a selective default under the rating agency's
criteria. Additionally, the rating agency sees increased risk that
the company voluntarily defaults on its large $50 million
semi-annual interest payment due on January 15, 2020.

The negative outlook reflects that S&P expects a distressed debt
exchange (which it would view as tantamount to a default) given the
recently announced asset sales, the underperformance of the
business, and the current distressed debt trading levels.

"We could lower our ratings on Exela if the company defaults,
announces a distressed exchange or restructuring, or misses its
interest payment," S&P said.

"Although unlikely over the next 12 months, we could revise our
outlook to stable or raise the rating if the company demonstrates
strong operating performance, sustains positive free cash flow
generation, and meaningfully reduces leverage," the rating agency
said.


F & T SPIRITS: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Two affiliates that concurrently filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code:

      Debtor                                     Case No.
      ------                                     --------
      F & T Spirits Enterprises Inc.             19-32364
      980 Shrewsbury Avenue
      Tinton Falls, NJ 07724

      Wine Utopia, LLC                           19-32365
      230 Shrewsbury Plaza
      Shrewsbury, NJ 07702

Business Description: The Debtors are privately held wholesalers
                      of wines and liquors.

Chapter 11 Petition Date: November 27, 2019

Court: United States Bankruptcy Court
       District of New Jersey (Trenton)

Judges: Hon. Christine M. Gravelle (19-32364)
        Hon. Michael B. Kaplan (19-32365)

Debtors' Counsel: Melinda D. Middlebrooks, Esq.
                  MIDDLEBROOKS SHAPIRO, P.C.
                  841 Mountain Ave, First Floor
                  Springfield, NJ 07081
                  Tel: 973-218-6877
                  Fax: 973-218-6878
                  Email: middlebrooks@middlebrooksshapiro.com

F & T Spirits'
Total Assets: $0

F & T Spirits'
Total Liabilities: $1,442,615

Wine Utopia's
Total Assets: 211,000

Wine Utopia's
Total Liabilities: $1,568,276

F & T Spirits' petition was signed by Travis Helmka, POA for Teresa
Helmka, president.

Wine Utopia's petition was signed by Frank Helmka, president.

Full-text copies of the petitions containing, among other items,
lists of the Debtors' 20 largest unsecured creditors are available
for free at:

         http://bankrupt.com/misc/njb19-32364.pdf
         http://bankrupt.com/misc/njb19-32365.pdf


FOREVER 21: Claim Filing Deadline Set for January 2020
------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware set Jan. 13,
2019, at 5:00 p.m. (prevailing Eastern Time), as the last date and
time for creditors of Forever 21 Inc. and its debtor-affiliates to
file proofs of claim against the Debtors.

The Court also set March 27, 2019, at 5:00 p.m. (prevailing Eastern
Time) as deadline for governmental units to file their claims
agains the Debtors.

Each proof of claim must be filed either:

   i) electronically through the interface available at
      https://cases.primeclerk.com/Forever21, under the
      "submit a claim" tab; or

  ii) first class U.S. mail, by overnight U.S. mail, or other
      hand delivery system at:

      Forever 21 Inc. et al. Claims Processing
      c/o Prime Clerk LLC
      850 Third Avenue, Suite 412
      Brooklyn, New York 11232

                         About Forever 21

Founded in 1984, and headquartered in Los Angeles, California,
Forever 21, Inc. -- http://www.forever21.com/-- is a fast fashion  
retailer of women's, men's and kids clothing and accessories and is
known for offering the hottest, most current fashion trends at a
great value to consumers.  Forever 21 delivers a curated assortment
of new merchandise brought in daily.

As of the bankruptcy filing, the Debtors operated 534 stores under
the Forever 21 brand in the U.S. and 15 stores under beauty and
wellness brand, Riley Rose.

On Sunday, Sept. 29, 2019, Forever 21, Inc. and 7 of its U.S.
subsidiaries each filed a voluntary petition for relief under
Chapter 11 of the United States Bankruptcy Code (Bankr. D. Del.
Lead Case No. 19-12122).

According to the petition, Forever 21 has estimated liabilities on
a consolidated basis of between $1 billion and $10 billion against
assets of the same range.

The Debtors tapped Kirkland & Ellis LLP as legal advisor; Alvarez &
Marsal as restructuring advisor; and Lazard as investment banker;
and Pachulski Stang Ziehl & Jones LLP as local bankruptcy counsel.
Prime Clerk is the claims agent.

Andrew Vara, acting U.S. trustee for Region 3, on Oct. 11, 2019,
appointed seven creditors to serve on the official committee of
unsecured creditors in the Chapter 11 case of Forever 21, Inc.

Counsel to the administrative agent under the Debtors' prepetition
revolving credit facility and the Debtors' DIP ABL financing
facility are Morgan, Lewis & Bockius LLP and Richards, Layton &
Finger, PA.

Counsel to the administrative agent under the Debtors' DIP term
loan facility is Schulte Roth & Zabel LLP.


FOX SUBACUTE: Hires Cunningham Chernicoff as Counsel
----------------------------------------------------
Fox Subacute at Mechanicsburg, et al., seek permission from the
U.S. Bankruptcy Court for the Middle District of Pennsylvania to
employ Cunningham, Chernicoff & Warshawsky, P.C., as counsel, to
represent them with respect to their cases and related matters.

The professional services to be rendered by Cunningham, Chernicoff
& Warshawsky, P.C. include, but are not limited to:

     a.  Give the Debtors legal advice regarding its powers and
duties as Debtors-in-Possession in the continued operation of their
business and management of their property;

     b.  Prepare and file on behalf of the Debtors, as
Debtors-in-Possession, the original Petition and Schedules, and all
necessary applications, complaints, answers, orders, reports and
other legal papers; and

     c.  Perform all other legal services for the Debtors, as
Debtors-in-Possession, which may be necessary.

Because of the extensive legal services required, the Debtors
desires to employ Cunningham, Chernicoff & Warshawsky, P.C. on a
general pre-petition retainer of $6,300. This retainer is a joint
retainer with all Debtors, and each Debtor has filed its own
Petition. The retainer is for opening the file and for engaging
Cunningham, Chernicoff & Warshawsky, P.C.  Upon this retainer being
utilized in full, the Debtors will be billed by Cunningham,
Chernicoff & Warshawsky, P.C., with such bills to be paid based
upon further Orders of the Court. All charges will be billed at the
firm's standard hourly billing rates otherwise in effect for
comparable work performed by the law firm, such rates currently
being:

     Robert E. Chernicoff   $400.00
     Partners               $200.00 to $350.00
     Associate Attorneys    $150.00 to $200.00
     Paralegals             $100.00

The Debtor contends that employment of Cunningham, Chernicoff &
Warshawsky, P.C. would be in the best interests of these estates.

The firm may be reached at:

     Robert E. Chernicoff, Esquire
     CUNNINGHAM, CHERNICOFF& WARSHAWSKY, P.C
     2320 North Second Street
     P. O. Box 60457
     Harrisburg, PA 17106-0457
     Tel: (717) 238-6570

                         About Fox Subacute

Fox Subacute At Mechanicsburg, LLC is a skilled nursing facility in
Pennsylvania that specializes in pulmonary, neurological, and
rehabilitative care for patients with degenerative neurological and
neuromuscular disease; and pulmonary care and ventilator
requirements with an emphasis on vent weaning.  Its facilities are
located in Plymouth Meeting, Warrington, Mechanicsburg, and
Philadelphia, Pennsylvania and are licensed by the PA Department of
Health.

On Nov. 1, 2019, Fox Subacute At Mechanicsburg and its affiliates
sought Chapter 11 protection (Bankr. M.D. Pa. Lead Case No.
19-04714).  CUNNINGHAM, CHERNICOFF & WARSHAWSKY, P.C., led by
Robert E. Chernicoff, is the Debtors' counsel.  Fox Subacute at
Mechanicsburg was estimated to have $1 million to $10 million in
assets and liabilities as of the bankruptcy filing.



FTS INTERNATIONAL: S&P Cuts ICR to 'CCC+' on Steep Revenue Decline
------------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on FTS
International Inc. (FTSI) to 'CCC+' from 'B' and revised the
outlook to negative from stable. At the same time, S&P lowered the
issue level ratings on the term loan due 2021 and the 6.25% senior
secured notes due 2022 to 'CCC+' from 'B'.

The downgrade reflects soft industry fundamentals, predominantly in
the U.S. market, and weakening financial measures for FTSI with
minimal cash flow prospects at this time. Demand for pressure
pumping is highly correlated to exploration and production (E&P)
spending, which in turn is influenced by volatile oil and natural
gas prices. The company relies solely on this product line within
oilfield services and is extremely vulnerable to ebbs in demand.
Furthermore, S&P believes FTSI faces significant refinancing risk
on its 6.25% senior secured notes due 2022 as well as subdued
expectations for operating results in 2019. With E&P companies
already starting to pull back capital spending, it is seeing
decreased drilling and completion spending, translating to material
declines in revenue and margin erosion for FTSI. As of Sept. 30
2019, FTSI was down to 28 total fleets with only 18 active. S&P
projects a slight decline in the utilization rate for the fourth
quarter 2019, followed by a marginal increase in 2020.

The negative outlook on FTS reflects S&P Global Ratings' view that
the company is dependent on favorable market conditions to meet its
financial commitments and faces elevated refinancing risk on its
term loan, which matures in April 2021, and notes, which mature in
May 2022. Additionally, it is S&P Global Ratings' opinion there is
a heightened risk the company will enter into a debt exchange for
its notes that S&P would view as distressed given the notes'
current discount to par.

"We could lower the rating on FTSI if it is unable to refinance the
2022 notes or if we feel it is likely the company will execute a
distressed exchange transaction," S&P said.

"We could revise our outlook on FTS to stable if the company
successfully refinanced its 2022 notes or we believe the potential
for a distressed exchange has become remote. This would likely
occur if improving market conditions for pressure pumping boost the
company's cash flows and financial performance and improve the
trading levels of its debt securities," the rating agency said.


GALVESTON BAY PROPERTIES: Gets Interim Access to $400K of DIP Loans
-------------------------------------------------------------------
Judge Eduardo V. Rodriguez authorized Galveston Bay Properties,
LLC, and Galveston Bay Operating Company, LLC, to borrow up to the
interim amount of $400,000 of the total available $500,000 from the
DIP Lender under the DIP Loan, pursuant to the Second Interim
order.

The Court ruled that the funds will be used solely as expressly
provided in the First Interim Order and this Second Interim Order
and the Second Interim Budget.

Prior to the release of the Order, three parties-interest filed
objections to the Debtors' DIP Motion:

   * Shadow Tree Capital Management LLC, Shadow Tree Funding
Vehicle A-Hydrocarb LLC, Quintium Private Opportunities Fund, LP,
and Samuel Gradess, as Trustee

       The Prepetition Senior Secured Lenders complained that the
Debtors have failed to provide adequate protection.  A copy of
their Objection is available at https://is.gd/PPtoX4 from
PacerMonitor.com free of charge.

   * Archrock Partners Operating LLC

       Archrock sought adequate protection for its secured claims
and senior liens.  Archrock, however, related that it is expecting
an agreement on this issue in connection with the Final DIP Order.
Archrock asserts an owing by the Debtors for monthly service fees
of at least $254,073 as of Oct. 31, 2019.   A copy of the Objection
is available at https://is.gd/DNL3ux  from PacerMonitor.com free of
charge.

   * Baywater Drilling, LLC, also filed an objection to the
Debtors' DIP Motion.

Pursuant to the Interim Order:

   (a) the DIP Obligations constitute superpriority claims against
the Debtors, subject to reservations as contained in the Second
Interim Order;

   (b) the DIP Lender is granted valid, enforceable, non-avoidable,
and fully perfected security interests in and liens upon all DIP
Collateral subject and subordinate only to the existing valid,
perfected pre-petition liens of (i) Shadow Tree Capital Management
LLC, Shadow Tree Funding Vehicle A-Hydrocarb LLC, Quintium Private
Opportunities Fund LP, and Samuel Gradess, Trustee, (ii) the liens
of state and local governmental entities that secure payment of an
allowed claim for taxes, (iii) other valid, perfected and
non-avoidable liens as of the Petition Date, and (iv) valid and
non-avoidable liens in existence at the time of the Petition Date
that are perfected subsequent thereto;

   (c) the DIP Lender will not be deemed to be in control of the
Debtors' operations or to be acting as a "responsible person" or
"owner or operator" with respect to the operation or management of
the Debtors, in determining to extend credit under the DIP Loan.

A copy of the Second Interim Order is available at
https://is.gd/RDFedJ  from PacerMonitor.com at no charge.

The final hearing to consider final approval of the DIP Loan is
scheduled for December 16, 2019 at 11:00 a.m. (CST). Objections
must be filed on or before 4:00 p.m. (CST) on December 13, 2019.

                 About Galveston Bay Properties
     
Galveston Bay Properties is a privately held company that operates
in the oil and gas extraction business.  Its principal assets
include oil and gas leases in Chambersand Galveston Counties,
Texas.  

Galveston Bay Properties, LLC  and affiliate Galveston Bay
Operating Company LLC sought Chapter 11 protection (Bankr. S.D.
Tex. Lead Case No. 19-36075) on Nov. 1, 2019 in Houston, Texas.  As
of the Petition Date, each of the Debtors was estiamted to have $1
million to $10 million in assets and liabilities.  Judge Eduardo V.
Rodriguez is the presiding judge.  KELL C. MERCER, P.C., and OKIN
ADAMS, LLC, serve as the Debtors' bankruptcy counsel.


GALVESTON BAY PROPERTIES: May Use Cash Collateral on Interim Basis
------------------------------------------------------------------
The Bankruptcy Court authorized Galveston Bay Properties, LLC and
Galveston Bay Operating Company, LLC to use cash collateral
pursuant to the Budget.  The Budget for the period from Nov. 1
through Dec. 14, 2019 provides for $232,242 in total field
expenses; $216,395 in payroll and benefits; and $183,139 in
critical vendor payments.

The Debtors will provide Shadow Tree Capital Management LLC $50,000
in adequate protection for the use of Cash Collateral for the
interim period from the date this Interim Order is entered until
the conclusion of the Final Hearing on Dec. 16, 2019 at 11 a.m.
The Court directed parties-in-interest to file objections by 4 p.m.
of Dec. 13, 2019.

A copy of the Interim Cash Collateral Order and the Budget is
available at https://is.gd/GJ1nOT from PacerMonitor.com free of
charge.

                  About Galveston Bay Properties
     
Galveston Bay Properties is a privately held company that operates
in the oil and gas extraction business.  Its principal assets
include oil and gas leases in Chambersand Galveston Counties,
Texas.  

Galveston Bay Properties, LLC, and affiliate Galveston Bay
Operating Company LLC sought Chapter 11 protection (Bankr. S.D.
Tex. Lead Case No. 19-36075) on Nov. 1, 2019 in Houston, Texas.  As
of the Petition Date, each of the Debtors was estimated to have $1
million to $10 million in assets and liabilities.  Judge Eduardo V.
Rodriguez is the presiding judge.  KELL C. MERCER, P.C., and OKIN
ADAMS, LLC serve as the Debtors' bankruptcy counsel.


GREENWOOD VETERINARY: Osipov Bigelman Tapped as Counsel
-------------------------------------------------------
Greenwood Veterinary Associates asks for permission from the U.S.
Bankruptcy Court for the Eastern District of Michigan to hire
Osipov Bigelman, P.C. as counsel for the Debtor.

The Debtor requests that the law firm of Osipov Bigelman, P.C. be
appointed in order to represent and assist the Debtor in all facets
of the reorganization.

The Debtor paid a $4,983 retainer to Osipov Bigelman, P.C. (in
addition to the filing fee for this case), all of which is held in
the firm's IOLTA account and remains property of the estate, not
subject to any security interest. Attorney's fees are subject to
the priorities set forth in 11 U.S.C. section 507.

The hourly rates for the attorneys of Osipov Bigelman,P.C., are:

     Jeffrey H. Bigelman, Esq.  $375.00/hour
     Yuliy Osipov, Esq.         $375.00/hour
     Anthony Miller, Esq.       $340.00/hour
     Gary Hansz, Esq.           $340.00/hour
     Paralegal                  $125.00/hour

The partners and associates of Osipov Bigelman, P.C. are not now,
or upon information and belief, have never been employed by any
person having an adverse interest in this case pursuant to section
327(a) of the Bankruptcy Code, the firm attests.

                About Greenwood Veterinary Associates

Greenwood Veterinary Associates filed a voluntary Chapter 11
petition (Bankr. E.D. Mich. Case No. 19-55866) on November 14,
2019, listing under $1 million in both assets and liabilities, and
is represented by Jeffrey H. Bigelman, Esq. and Yuliy Osipov, Esq.,
at Osipov Bigelman,P.C.



GRIFFIN HEALTH: S&P Rates $62.5MM Series G Revenue Bonds 'BB+'
--------------------------------------------------------------
S&P Global Ratings assigned its 'BB+' long term rating to the State
of Connecticut Health & Educational Facilities Authority's $62.5
million series G revenue bonds, issued on behalf of Griffin Health
Services Corp. (GHSC). The outlook is stable.

"The stable outlook reflects our view that GHSC's performance will
recover from fiscal 2019 performance levels throughout the outlook
period, albeit at margins below levels shown in fiscal 2017 and
2018," said S&P Global Ratings credit analyst Luke Gildner. "We
anticipate the positive margins will produce overall maximum annual
debt service coverage that will improve from current year levels
and lead to moderate growth in key balance sheet metrics over
time."

GHSC's rating assignment reflects an adequate financial profile
combined with a vulnerable enterprise profile. The enterprise
profile reflects a healthy market share and good payor mix, offset
by the small primary service area (PSA) population, considerable
outmigration to competitors in the secondary service area and high
concentration of admissions within the top 10 physicians. Recent
physician recruitment and service enhancements are designed to
expand the service area and reduce outmigration. GHSC's ownership
of Planetree International Inc. and its use of this
patient-focused, consumer-oriented model helps GHSC project a
unique operating style that, in S&P's opinion, will help it sustain
its local market niche and market share. The financial profile
reflects healthy operating surpluses through fiscal 2018, offset by
weaker operating margins in the current year to date due, in part,
to one-time items associated with implementation of a new
electronic medical record system, combined with high pro forma
leverage and weak unrestricted reserved to pro forma debt. The
overall financial profile is expected to get a significant boost
from revisions to the state's provider tax program as the
hospital's current net tax burden is expected to decrease
consistently over the next few years, ultimately becoming a net
profit.



H.R.H.C.C. INC: Court Resets Final Hearing to Dec. 9
----------------------------------------------------
The Bankruptcy Court has rescheduled the final hearing on the
Motion to Use Cash Collateral filed by H.R.H.C.C., Inc., to Dec. 9,
2019 at 10:30 a.m.  

The final hearing was previously scheduled on Nov. 22, 2019.

                      About H.R.H.C.C., Inc.

H.R.H.C.C., Inc., doing business as H.R.H. Carriage Company, sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D.
Tex. Case No. 19-52673) on Nov. 6, 2019, disclosing assets of less
than $50,000 and debts under $500,000. Judge Ronald B. King is
assigned to the case.


H.R.H.C.C. INC: Gets Interim Approval to Use Cash Collateral
------------------------------------------------------------
The Bankruptcy Court, at a hearing held on Nov. 22, 2019, approved
on an interim basis, the Motion to Use Cash Collateral filed by
H.R.H.C.C., Inc.  The Court dockets disclosed that the Order is due
to be filed by Dec. 6, 2019.

                    About H.R.H.C.C., Inc.

H.R.H.C.C., Inc. doing business as H.R.H. Carriage Company, sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D.
Tex. Case No. 19-52673) on Nov 06, 2019, disclosing assets of less
than $50,000 and debt under $500,000.  Judge Ronald B. King is
assigned to the case.  James Samuel Wilkins, Esq., at WILLIS &
WILKINS, LLP, is the Debtor's counsel.


H.R.H.C.C. INC: May Use Cash, Must File Plan 180 Days from Filing
-----------------------------------------------------------------
Judge Ronald B. King authorized H.R.H.C.C., Inc., to collect and
receive all accounts receivable, and use cash collateral pursuant
to the Budget.
  
The Court ruled that Vista Point Services, LLC, is granted
replacement liens on all inventory and accounts receivable acquired
by the Debtor from the Petition Date, with the liens continuing
until further Court order or the confirmation of a Plan of
Reorganization in the Debtor's Chapter 11 case.  

The Court ordered that the Debtor must file its Plan of
Reorganization within 180 days of the bankruptcy petition.  A copy
of the Order is available at https://is.gd/vD8mGx  from
PacerMonitor.com free of charge.  

                     About H.R.H.C.C., Inc.

H.R.H.C.C., Inc. doing business as H.R.H. Carriage Company, sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D.
Tex. Case No. 19-52673) on Nov. 6, 2019, disclosing assets of less
than $50,000 and debts under $500,000.  Judge Ronald B. King is
assigned to the case.


HAIFA LLC: Seeks to Hire Galloway Wettermark as Legal Counsel
-------------------------------------------------------------
Haifa, LLC seeks approval from the U.S. Bankruptcy Court for the
Southern District of Alabama to hire Galloway, Wettermark & Rutens,
LLP as its legal counsel.
    
The firm will advise the Debtor of its powers and duties under the
Bankruptcy Code and will provide other legal services in connection
with its Chapter 11 case.

Robert Galloway, Esq., and J. Willis Garrett III, Esq., are the
firm's attorneys who will be handling the Debtor's bankruptcy case.


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

Galloway can be reached through:

     Robert M. Galloway, Esq.
     J. Willis Garrett, III, Esq.
     Galloway, Wettermark & Rutens, LLP
     P.O. Box 16629
     Mobile, AL 36616
     Phone: 251-476-4493
     Email: bgalloway@gallowayllp.com
     Email: pwittner@gallowayllp.com
     Email: wgarrett@gallowayllp.com

                          About Haifa LLC

Haifa, LLC sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Ala. Case No. 19-13355) on Sept. 25, 2019.  At the
time of the filing, the Debtor had estimated assets of between
$50,001 and $100,000 and liabilities of between $100,001 and
$500,000.  The case is assigned to Judge Jerry C. Oldshue.


HANNAH SOLAR: Gets Final Approval on Cash Collateral Request
------------------------------------------------------------
Judge Paul Baisier authorized Hannah Solar, LLC, to use cash
collateral on a final basis, on the same terms and conditions and
with the same budget, as in the DIP Financing Order.  

Bay Point Capital will have all liens and other protections
provided for in the DIP Financing Order, as adequate protection for
use of Cash Collateral.  The Debtor may utilize new customer
deposits, apart from any approved budgets, in the ordinary course
of business, the Court ruled.  A copy of the Final Order is
available at https://is.gd/Ru6tBy  from PacerMonitor.com free of
charge.
  
This Order will supplement and will not amend, modify, or otherwise
alter the DIP Financing Order.

                        About Hannah Solar

Hannah Solar, LLC, is a solar energy equipment supplier in Atlanta.
It specializes in planning, design, installation and maintenance
of renewable energy solutions.

Hannah Solar sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. N.D. Ga. Case No. 19-57651) on May 15, 2019.  At the
time of the filing, the Debtor was estimated to have assets of less
than $50,000 and liabilities of between $1 million and $10 million.
The Robl Law Group, LLC, is the Debtor's counsel. Portnoy Garner &
Nail LLC, is co-counsel.




HILDA KARAMOUZ: Cordish Power's Corp. Disclosure Statement Filed
----------------------------------------------------------------
Cordish Power Plant Number Two, LLC and Thirty-Four Marketplace,
LLC, submitted with the U.S. Bankruptcy Court for the District of
Maryland, Greenbelt Division, a corporate disclosure statement in
relation to the adversary proceeding CORDISH POWER PLANT NUMBER
TWO, LLC and THIRTY-FOUR MARKETPLACE, LLC, Plaintiffs, v. HILDA
KARAMOUZ, Defendant, Case No. 18-23863.

The parties disclose that Cordish Power Plant No. 2 Management LLC
is not a party to the adversary proceeding but may have a financial
interest in the outcome of the litigation.

The members of Cordish Power Plant Number Two, LLC and their states
of citizenship include Cordish Family I, LLC (Alaska); Cordish
Enterprises, LLLP (Maryland); Glenn L Weinberg (Texas); Joseph S.
Weinberg (Texas); Saddlebrook Investment, LLC (Alaska).

The members of Thirty-Four Marketplace, LLC and their states of
citizenship include Thirty-Four Marketplace Investors, LLC
(Maryland); Zed Smith (Maryland); CDF Development Subsidiary V, LLC
(Maryland).

A full-text copy of the corporate disclosure statement is available
at https://tinyurl.com/rml37w6 from PacerMonitor.com at no charge.

Cordish Power and Thirty-Four Marketplace are represented by:

Irving E. Walker [MD Bar No. 00179]
Cole Schotz P.C.
300 East Lombard Street, Suite 1450
Baltimore, Maryland 21202
410-230-0660 Phone
410-230-0667 Facsimile
iwalker@coleschotz.com


HOME HEALTH: Case Summary & 16 Unsecured Creditors
--------------------------------------------------
Debtor: Home Health and Infusion Options, Inc.
           a/k/a HHIO
        2418 W. Bloomingdale Ave., Suite C2
        Chicago, IL 60647

Business Description: Home Health and Infusion Options, Inc.
                      -- https://www.hhio.net -- is a provider
                      of health care services.  It offers
                      pharmaceutical, skilled nursing, hi-tech
                      infusions, and physical therapy services.

Chapter 11 Petition Date: November 25, 2019

Court: United States Bankruptcy Court
       Northern District of Illinois (Eastern Division)

Case No.: 19-33494

Judge: Hon. Deborah L. Thorne

Debtor's Counsel: Shelly A. DeRousse, Esq.
                  FREEBORN & PETERS LLP
                  311 South Wacker Drive, Suite 3000
                  Chicago, IL 60606
                  Tel: 312-360-6315
                  Fax: 312-360-6520
                  E-mail: sderousse@freeborn.com

                    - and -

                  Elizabeth L. Janczak, Esq.
                  FREEBORN & PETERS LLP
                  311 S. Wacker Drive Suite 3000
                  Chicago, IL 60606
                  Tel: (312) - 3606000
                  E-mail: ejanczak@freeborn.com

Estimated Assets: $100,000 to $500,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Christopher Kujawski, chief financial
officer.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 16 unsecured creditors is available for free
at:

         http://bankrupt.com/misc/ilnb19-33494.pdf


HRI HOLDING: Seeks OK on $5M DIP Loan, Gets Interim Nod for $3.2M
-----------------------------------------------------------------
HRI Holding Corp., and debtor affiliates sought permission from the
Bankruptcy Court to obtain up to $5,000,000 in revolving advance
loan from CIT Bank, N.A., (as DIP Agent), Garrison Funding 2018-1
LP, Garrison Funding 2018-2 LTD, and Garrison MML CLO 2019-1 LP.
The Debtor also sought approval for up to $3,200,000 of the funds
to be made available on an interim basis.

The salient terms of the DIP Facility include:

(1)Interest rate:

   (i) each LIBOR Loan shall bear interest on the outstanding
principal amount at a rate per annum equal to the sum of the LIRO
Rate for such Interest Period, plus (B) the Applicable Margin (7%
for base rate loans, and 8% for LIBOR Loans); and

  (ii) each Base Rate Loan bear interest on the outstanding
principal amount thereof from the applicable borrowing or
conversion date at a rate per annum equal to the (A) Base Rate plus
(B) the Applicable Margin.

(2) Default Interest Rate:

    An interest rate equal to (i) the Base Rate plus (ii) the
Applicable Margin applicable to Base Rate Loans plus (iii) 2o/o per
annum; and (b) when used with respect to a LIBOR Loan, an interest
rate equal to (i) the LIBO Rate applicable to such LIIIOR Loan plus
(ii) the Applicable Margin applicable to LIBOR Loans plus (iii)
2o/o per annum

(3) Maturity:

    The earlier to occur of (i) the closing of an Approved 363
Sale; and (ii) January 31, 2020

(4) Proceeds from Loan Advances and Cash Collateral:

   (a) to pay fees, costs, and expenses as provided in the DIP
Financing Documents, including amounts incurred in connection with
the preparation, negotiation, execution and delivery of the DIP
Credit Agreement and the other DIP Financing Documents;

   (b) for general operating and working capital purposes, for the
payment of fees, expenses, and costs incurred in connection with
the Cases, and other proper corporate purposes of the Debtors not
otherwise prohibited by the terms hereof for working capital, and
other lawful corporate purposes of the Debtors;

   (c) for making other payments as provided in this Interim Order;
and

   (d) to fund the Carve-Out Reserve Account.

                      Interim DIP Request Granted

Judge Mary Walrath subsequently authorized the Debtors to obtain up
to $3,200,000 of the DIP funds, pursuant to the DIP Credit
Agreement, on an interim basis, subject to the approved budget.  

The Court ruled that the DIP Agent, for the benefit of itself and
the DIP Lenders, is granted a valid, binding, enforceable and
perfected first priority  security interes and liens in all of the
Debtors' property, rights and interests.  Moreover, the DIP Lender,
on behalf of itself and the DIP Lenders is granted an allowed super
priority administrative expense claim of the estates, for all the
DIP Obligations, subject to the Carve-out.  

The Debtors, subject to the terms of the Interim Order, are
authorized to use cash collateral, pursuant to the DIP Financing
Documents, as may be limited by the approved budget.  As adequate
protectioin, the Pre-petition Agent is granted a first lien
adequate protection liens on the DIP Collateral, subject and junior
to the DIP Liens, the Senior Liens and the Carve-out.  

To the extent that the First Lien Adequate Protection Liens are
insufficient to cover the diminution in the value of the
Pre-petition Lenders' interests, the Pre-petition Agent is granted
an allowed super priority administrative expense claim against the
estates, subject to the DIP super priority claim and the Carve-out.
The Prepetition Lender is also entitled to interest on account of
the outstanding Pre-petition obligations at the default rate.

Additionally, the Debtor will pay or reimburse the Pre-petition
Agent and the Pre-petition Lenders for all reasonable fees, costs,
expenses payable under the Pre-petition Financing Documents.  

The Carve-out includes all allowed professional fees incurred by
the professionals retained by the Debtors for an aggregate amount
of up to $75,000, excluding bonus, sale transaction fees, success
fees of any professionals.  

Final hearing on the Motion is scheduled for Dec. 2, 2019 at 2 p.m.
A copy of the Interim Order is available at https://is.gd/PVAVSw
from PacerMonitor.com free of charge.  

                    About HRI Holding Corp.

Formed in September 1992 under the name "Gilbert/Robinson, Inc.,"
and headquartered in Leawood, Kansas, HRI Holding Corp. and 39
affiliated debtors own and operate 47 restaurants in 14 states
(Connecticut, Florida, Illinois, Indiana, Kansas, Michigan,
Missouri, Nebraska, New Jersey, New York, Ohio, Pennsylvania,
Texas, and Virginia).  The Debtors own Houlihan's Restaurant + Bar,
J. Gilbert's Wood-Fired Steak + Seafood, Bristol Seafood Grill, and
Devon Seafood Grill restaurants.  As of the Petition Date, the
Debtors have approximately 3,450 employees.

The Debtors sought Chapter 11 protection (Bankr. D. Del. Lead Case
No. 19-12415) on November 14, 2019.  On the Petition Date, the
Debtors were estimated with assets of between $50 million and $100
million, and liabilities within the same range.  The petitions were
signed by Matthew R. Manning, chief restructuring officer.

LANDIS RATH & COBB LLP serves as the Debtors' counsel. PIPER
JAFFRAY & CO. is the Debtors' investment banker.  HILCO REAL
ESTATE, LLC is the Debtors' real estate advisor.  KURTZMAN CARSON
CONSULTANTS, LLC serves as the Debtors' claims and noticing agent,
as well as administrative agent.




HUDSON'S BAY CO: S&P Discontinues 'B' Long-Term ICR
---------------------------------------------------
On Nov. 26, 2019, S&P Global Ratings discontinued its 'B' long-term
issuer credit rating on Hudson's Bay Co. because there is no rated
debt outstanding.



IMPORT SPECIALTIES: May Use Charter Bank Cash Thru Jan. 5, 2020
---------------------------------------------------------------
Judge Kathleen H. Sanberg authorized Import Specialties
Incorporated, d/b/a Heartland America, to use the cash collateral
of Charter Bank through January 5, 2020.

Pursuant to the Order:

   (a) the Debtor may use the cash collateral to pay ordinary and
necessary business expenses for items and such use as will not vary
materially from the budget, except those specifically authorized by
Court Order;  

   (b) the Debtor will grant Charter Bank replacement liens, to the
extent of the Debtor's use of cash collateral;

   (c) the Debtor will pay Charter Bank $20,000 monthly for
adequate protection payments.  

A copy of the Order is available at https://is.gd/zrL4y9 from
PacerMonitor.com free of charge.  

                   About Import Specialties

Import Specialties Incorporated, d/b/a Heartland America, is a
privately held company in Chaska, Minnesota that sells products
using television, catalog, internet, and mail-order.

Import Specialties filed a voluntary Chapter 11 bankruptcy petition
(Bankr. D. Minn. Case No. 19-42563) on Aug. 22, 2019.  In the
petition signed by CEO Mark R. Platt, the Debtor was estimated to
have $1 million to $10 million in both assets and liabilities.  The
case has been assigned to Judge Kathleen H. Sanberg. John D. Lamey,
III, Esq. at Lamey Law Firm, P.A., is the Debtor's counsel.

The U.S. Trustee for Region 12 on Sept. 5, 2019, appointed three
creditors to serve on the official committee of unsecured creditors
in the Chapter 11 case.  The Committee retained Barnes & Thornburg
LLP, as counsel.



INTERIM HEALTHCARE: Seeks to Hire Lugenbuhl Wheaton as Counsel
--------------------------------------------------------------
Interim Healthcare of Southeast Louisiana, Inc. seeks approval from
the U.S. Bankruptcy Court for the Eastern District of Louisiana to
hire Lugenbuhl, Wheaton, Peck, Rankin & Hubbard as its legal
counsel.

Lugenbuhl will advise the Debtor concerning its business and the
management of its property and will provide other legal services in
connection with its Chapter 11 case.

The firm's hourly rates are:

     Christopher T. Caplinger                $325
     Joseph P. Briggett                      $285
     James W. Thurman and other associates   $215
     Paralegals                              $90

Lugenbuhl received a retainer in the amount of $13,717.

Lugenbuhl firm currently has no connection with the Debtor,
creditors or any party, according to court filings.

The firm can be reached at:

     Joseph P. Briggett, Esq.
     Lugenbuhl, Wheaton, Peck, Rankin & Hubbard
     601 Poydras Street, Suite 2775
     New Orleans, LA 70130
     Tel: (504) 568-1990
     Fax: (504) 310-9195
     Email: jbriggett@lawla.com
             
            About Interim Healthcare of Southeast Louisiana

Interim Healthcare of Southeast Louisiana, Inc. is a home health
care services provider based in Covington, La.

Interim Healthcare of Southeast Louisiana filed a voluntary Chapter
11 petition (Bankr. Case No. 19-13127) on Nov. 19, 2019. In the
petition signed by Julia Burden, president and chief executive
officer, the Debtor estimated $1 million to $10 million in both
assets and liabilities.

Joseph Patrick Briggett, Esq., at Lugenbuhl, Wheaton, Peck, Rankin
& Hubbard, is the Debtor's legal counsel.


IPC CORP: S&P Raises Issuer Credit Rating to 'CCC+'; Outlook Neg.
-----------------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on IPC Corp. to
'CCC+' from 'SD' (selective default), reflecting its view that
although the company's liquidity position has improved, it
continues to see the capital structure as unsustainable long term
absent significant improvement in business conditions.

At the same time, S&P raised its issue-level rating on the
company's second-lien debt to 'CCC' from 'D'. The '5' recovery
rating remains unchanged. In addition, S&P affirmed its 'CCC+'
issue-level rating on the company's first-lien debt, which was
unaffected by the restructuring. The '3' recovery rating remains
unchanged.

The upgrade follows S&P's review of the company's credit profile
subsequent to the execution of its agreement to amend its
second-lien facilities, which the rating agency views as credit
positive for IPC because it improves the company's liquidity by
reducing its cash interest expense by about $20 million via a
payment-in-kind (PIK) on the second-lien term loan (the company did
PIK its July 2019 interest payment). Still, the company still needs
to refinance about $740 million in first-lien debt that comes due
in August 2021. Given IPC's weak operating performance and
challenging longer-term business prospects, S&P believes it could
face difficulty in refinancing its obligations as they come due and
may pursue a restructuring as an alternative. S&P would view this
as tantamount to default if investors receive less than the
original promise of the security.

The negative outlook reflects the potential for a lower rating if
significant visibility into earnings growth from improved
operational performance does not materialize over the next year.

"We could lower the rating if we believe the company will face a
near-term liquidity shortfall or engage in another distressed
exchange within the next 12 months. We could also lower the rating
if it violates its leverage coverage covenant and it cannot be
cured," S&P said.

"We could revise the outlook to stable or developing if the company
is able to extend the maturity profile of its debt maturities in a
manner that makes existing lenders whole, in our view. Although
unlikely over the next year, we could raise our rating if secular
industry and competitive pressures moderate, cost synergies are
realized, and topline growth enables debt to EBITDA to fall below
6x with a path for further improvement," the rating agency said.


IRON COUNTY HOSPITAL: USA Objects to Amended Disclosure Statement
-----------------------------------------------------------------
The United States of America, on behalf of its agencies the United
States Department of Agriculture (the USDA) and the United States
Department of Health and Human Services (the HHS), filed with the
Bankruptcy Court a memorandum of law in support of its objection to
the Third Amended Disclosure Statement of Debtor Iron County
Hospital District d/b/a Iron County Medical Center.

The U.S. Government argues that the Disclosure Statement does not
contain adequate information about the purported agreement between
the HHS and the Hospital on repayment of HHS' $2,113,771.87 claim
for determined Medicare Part overpayments.

Moreover, special revenue bondholders like USDA cannot be crammed
down in Chapter 9 cases because in such cases creditors cannot
propose a plan, cannot convert to chapter 7, cannot have a trustee
appointed, and cannot force a sale of municipal assets.

The Disclosure Statement does not allow creditors to determine what
distributions they are likely to receive under the Plan, the U.S.
Government adds. Without this information, the United States and
other creditors cannot gauge the Hospital's ability to make future
payments.

The Hospital states it was unable to make further payment to the
USDA by April 2017 and negotiated interest-only payments beginning
in October 2017 for 18 months, but was unable to make even
interest-only payments by the petition date.

Moreover, the Disclosure Statement provides no detail whatsoever
regarding the adequacy of the Hospital's working capital, the
operating costs and other expenses the Hospital expects to incur
after reorganization, the means by which the Hospital expects to
pay its post-confirmation expenses, the useful life of the
Hospital's equipment, or the Hospital's projected
postreorganization income.

A full-text copy of the objection is available at
https://tinyurl.com/sz2h6zt from PacerMonitor.com at no charge.

           About Iron County Medical Center

Iron County Medical Center -- http://www.icmedcenter.org/-- is a
general hospital in Pilot Knob, Missouri. Iron County MedicalCenter
offers professional emergency care services as well as inpatient
and outpatient care services. Iron County Medical Center, known by
many as "The Clinic on the Hill", provides comprehensive care for
many disease processes: diabetes, hypertension, COPD, asthma,
arthritis, allergies; well child check-ups; well woman check-ups;
men's health; sports physicals; minor injuries; and sick visits.  

Iron County Hospital District aka Iron County Hospital, d/b/a Iron
County Medical Center, filed a Chapter 9 petition (Bankr. E.D. Mo.
Case No. 18-10111) on Feb. 21, 2018. In the petition signed by CEO
Joshua E. Gilmore, the Debtor was estimated to have assets at
between $1 million and $10 million and its liabilities at between
$10 million and $50 million. Daniel D. Doyle, Esq., at Lashly &
Baer, P.C., serves as the Debtor's bankruptcy counsel.


J-H-J INC: Has Court Nod to Use Cash thru Dec. 17 Hearing
---------------------------------------------------------
Judge John W. Kolwe authorized J-H-J, Inc., and debtor affiliates
to use cash collateral on an interim and emergency basis from Nov.
20, 2019 through and including the termination date, which is the
earliest to occur of:

   * the date of the further hearing on use of cash collateral
pursuant to this Order;

   * 30 days from the date of this Order is entered, unless
extended by the Secured Creditor; or

   * upon written notice to the Debtors by the Secured Creditor,
after the occurrence and continuance of any event of default.

The Debtors will use the cash collateral to defray operating costs
of their businesses, and costs and expenses related to this Chapter
11 case.   The Debtors intend to continue ordering inventory on a
COD basis from the Secured Creditor.

As adequate protection, the Secured Creditor is granted valid and
perfected, replacement security interests in, and liens on all of
the right, title and interest of the Debtors in all of their
property.  The Adequate Protection Liens will constitute super
priority administrative expenses against the Debtors.  A copy of
the Order and the approved Budget is available at
https://is.gd/H29uQU  from PacerMonitor.com free of charge.  

A further hearing will be held on Dec. 17, 2019 at 10 a.m., or as
soon thereafter as counsel may be heard.  

                         About J-H-J, Inc.

J-H-J, Inc., is the lead debtor in the jointly administered cases
with eight debtor affiliates (Bankr. W.D. La. Lead Case No.
19-51367) filed on November 15, 2019 in Lafayette, Louisiana.   

JHJ, a Louisiana corporation, was formed in 1984 for the purpose of
owning and operating retail grocery stores in the Baton Rouge
metropolitan area.  Currently, JHJ owns and operates two such
stores.  Beginning in 1998, the remaining Debtors were formed by
certain shareholders of JHJ for purposes of operating retail
grocery stores in various locations in southern Louisiana.
Collectively, the Debtors currently own and operate 12 grocery
stores under the names Piggly Wiggly or Shoppers Value.  All
general administrative duties for the Debtors are handled by JHJ.

The Debtor affiliates are: (i) Lafayette Piggly Wiggly, LLC; (ii)
T.H.G. Enterprises, LLC; (iii) SVFoods Old Hammond, LLC; (iv)
SVFoods Jefferson, LLC; (v) T&S Markets, LLC; (vi) TSD Markets,
LLC; (vii) Baker Piggly Wiggly, LLC; and (viii) BR Pig, LLC.  As of
the Petition Date, J-H-J, Inc., is estimated with both assets and
liabilities at $10 million to $50 million. The petition was signed
by Garnett C. Jones, Jr., president.  Judge John W. Kolwe is
assigned the cases.  THE STEFFES FIRM, LLC serves as counsel to the
Debtors.   



J.D. BEAVERS: Seeks to Use Cash Collateral, Gets Interim Nod
------------------------------------------------------------
J.D. Beavers Co. LLC, asked the Bankruptcy Court to authorize use
of $276,534 in cash collateral in the ordinary course of its
business and in order to pay Chapter 11 costs and expenses,
pursuant to the budget.

The Budget provides for total expenses at $19,055 for the second
week ending Nov. 30, 2019, including $5,500 in payroll.  The Debtor
proposed to use cash collateral based on the line item amounts,
with 10% variance for amounts more than $1,000 and a 20% variance
for amount less than $1,000.

The Debtor also sought to provide its Senior Lender, ReadyCap
Lending, LLC, and any other secured creditor, replacement liens in
all types of collateral that were properly secured and perfected
under the applicable, valid and enforceable pre-petition loan
documents, which are created, or arise after the Petition Date.  A
copy of the first-day Motion, with the Budget, is available at
https://is.gd/8l870h  from PacerMonitor.com free of charge.

The Court, pursuant to a minute entry, thereafter authorized the
Debtor's use of cash collateral, and has set the final hearing on
Dec. 23, 2019 at 10 a.m.

                   About Debtor J.D. Beavers

J.D. Beavers Co. LLC is a recycling company in Brighton, Michigan
that converts scrap metal into reusable raw materials for the metal
making industry.  The company buys aluminum, carbide, coated wire,
copper, brass & red metals, gold & silver, lead acid battery, niton
XL3t, steel, stainless steel, and tool steel.  The Company filed a
Chapter 11 petition (Bankr. E.D. Mich. Case No. 19-32748) on Nov.
20, 2019 in Flint, Michigan.  

In the petition signed by John D. Beavers, president, the Debtor
was listed with total assets at $950,945 and total liabilities at
$2,495,614.  

Schafer and Weiner, PLLC, and THE FOX LAW CORPORATION, INC., serve
as counsel to the Debtor.  Judge Joel D. Applebaum administers the
case.


JAGGED PEAK: Committee Seeks to Hire Brown Rudnick as Legal Counsel
-------------------------------------------------------------------
The official committee of unsecured creditors of Jagged Peak, Inc.
and its affiliates seeks approval from the U.S. Bankruptcy Court
for the District of Nevada to retain Brown Rudnick LLP as its legal
counsel.

The services to be rendered by Brown Rudnick to the committee will
include:

     a. assisting and advising the committee in its discussions
with the Debtors and other parties regarding the overall
administration of the Debtors' Chapter 11 cases;

     b. representing the committee at hearings and communicating
with the committee regarding the matters heard, issues raised and
the decisions of the court;

     c. assisting and advising the committee in its examination and
analysis of the conduct of the Debtors' affairs;

     d. assisting and advising the committee in its discussions
with the Debtors and other parties the sale process;

     e. reviewing and analyzing pleadings and other documents filed
by interested parties in the Debtors' cases;

     f. assisting the committee in preparing applications and other
pleadings;

     g. conferring with the professionals retained by the Debtors,
the  committee and other parties;

     h. coordinating the receipt and dissemination of information
prepared by the Debtors' professionals and those engaged by the
committee and other parties;

     i. participating in examinations; and

     j. negotiating and, if necessary or advisable, formulating a
plan of reorganization for the Debtors.

The hourly rates range from $485 to $950 for the firm's attorneys
and from $280 to $445 for paraprofessionals.

Cathrine Castaldi, Esq., and Max Schlan, Esq., the firm's attorneys
who are anticipated to represent the committee, will charge $950
per hour and $815 per hour, respectively.

Ms. Castaldi attests that her firm neither holds nor represents an
interest adverse to the Debtors' estates.

Brown Rudnick has not agreed to any variations from, or
alternatives to, its standard or customary billing arrangements for
its employment with the committee, and that no professional at the
firm has varied his rate based on the geographic location of the
Debtors' bankruptcy cases. The firm has not represented the
committee in the 12 months preceding the petition date, according
to court filings.

The firm can be reached through:

     Cathrine M. Castaldi, Esq.
     Brown Rudnick LLP
     2211 Michelson Drive, Seventh Floor
     Irvine, CA 92612
     Tel: (949) 752-7100
     Email: ccastaldi@brownrudnick.com

                          About Jagged Peak

Jagged Peak Inc. and its subsidiaries are software companies in
Tampa, Florida. The Debtors deliver end-to-end global eCommerce
solutions that help companies break into new markets and build
customer base by creating a seamless experience across borders for
all product types.

Jagged Peak, Inc., based in Tampa, FL, and its debtor-affiliates
sought Chapter 11 protection (Bankr. D. Nev. Lead Case No.
19-15959) on Sept. 16, 2019.

In the petitions signed by CRO Jeremy Rosentha, Jagged Peak, and
TradeGlobal, LLC, were estimated to have assets of $50 million to
$100 million and liabilities of $10 million to $50 million; and
TradeGlobal North America Holding, Inc. was estimated to have
assets of $1 million to $10 million and estimated liabilities of
less than $50,000.

The Hon. Mike K. Nakagawa oversees the cases.

The Debtors tapped Garman Turner Gordon as bankruptcy counsel;
Cowen and Company, LLC as investment banker; and BMC Group, Inc. as
claims and noticing agent.


JAGGED PEAK: Committee Taps Dundon Advisers as Financial Advisor
----------------------------------------------------------------
The official committee of unsecured creditors of Jagged Peak, Inc.
and Trade Global, LLC seeks approval from the U.S. Bankruptcy Court
for the District of Nevada to retain Dundon Advisers LLC as its
financial advisor.
    
The firm will provide these services to the committee in connection
with the Debtors' Chapter 11 cases:

     a. assist in the analysis, review and monitoring of the
restructuring process, including an assessment of the unsecured
claims pool and potential recoveries for unsecured creditors;

     b. develop a complete understanding of the Debtors' businesses
and their valuations;

     c. determine whether there are viable alternative paths for
the disposition of the Debtors' assets;

     d. monitor and assist the Debtors in their efforts to develop
and solicit transactions which would support unsecured creditor
recovery;

     e. assist the committee in identifying, valuing and pursuing
estate causes of action;

     f. assist the committee to address claims against the Debtors
and to identify, preserve, value and monetize tax assets of the
Debtors;

     g. advise the committee in negotiations with the Debtors and
third parties;

     h. assist the committee in reviewing the Debtors' financial
reports;

     i. review and provide analysis of any proposed disclosure
statement and Chapter 11 plan, and if appropriate, assist the
committee in developing an alternative plan of reorganization and
disclosure statement;

     j. attend meetings and assist in discussions with the
committee, the Debtors, the first lien noteholders, the second lien
noteholders, the U.S. trustee and other parties; and

     k. present at meetings of the committee and meetings with
other key stakeholders and parties.

The firm's hourly rates are:

     Alex Mazier        $675
     Demetri Xistris    $525
     Eric Reubel        $550
     Ming Shen          $600
     Harry Tucker       $475
     John Roussey       $550
     Jonathan Feldman   $675
     Laurence Pelosi    $675
     Matthew Dundon     $700
     Peter Hurwitz      $675
     Phillip Preis      $625
     Robert Goch        $550
  
Dundon Advisers is "disinterested" within the meaning of Section
101(14) of the Bankruptcy Code, according to court filings.

The firm can be reached through:

     Matthew Dundon
     Dundon Advisers LLC
     440 Mamaroneck Avenue, Fifth Floor
     Harrison, New York 10528 USA
     Phone: 914-341-1188 / 917-838-1930
     Fax: +1 (212) 202-4437
     Email: md@dundon.com

                          About Jagged Peak

Jagged Peak Inc. and its subsidiaries are software companies in
Tampa, Florida. The Debtors deliver end-to-end global eCommerce
solutions that help companies break into new markets and build
customer base by creating a seamless experience across borders for
all product types.

Jagged Peak, Inc., based in Tampa, FL, and its debtor-affiliates
sought Chapter 11 protection (Bankr. D. Nev. Lead Case No.
19-15959) on Sept. 16, 2019.

In the petitions signed by CRO Jeremy Rosentha, Jagged Peak, and
TradeGlobal, LLC, were estimated to have assets of $50 million to
$100 million and liabilities of $10 million to $50 million; and
TradeGlobal North America Holding, Inc. was estimated to have
assets of $1 million to $10 million and estimated liabilities of
less than $50,000.

The Hon. Mike K. Nakagawa oversees the cases.

The Debtors tapped Cozen O'Connor as bankruptcy counsel; Garman
Turner Gordon as local counsel; Cowen and Company, LLC as
investment banker; and BMC Group, Inc. as claims and noticing
agent.

On Oct. 24, 2019, The Office of the U.S. Trustee appointed
creditors to serve on the official committee of unsecured creditors
in the Chapter 11 cases of Jagged Peak and Trade Global, LLC.  The
committee tapped Brown Rudnick LLP and McDonald Carano, LLP as its
legal counsel.


JLS ACADEMY: Plan Payments to be Funded by Continued Operations
---------------------------------------------------------------
Debtor JLS Academy Austin LLC filed with the U.S. Bankruptcy Court
for the Western District of Texas, Austin Division, a disclosure
statement in connection with plan of reorganization dated November
19, 2019.

Middleton Construction, LLC has agreed to waive payment of the
Allowed Amount of its Unsecured Claim during the term of the Plan.
Any statute of limitation applicable to such claim is tolled during
the term of the Plan. Class 5 is Impaired.

KMA and LMP have agreed to waive payment of the Allowed Amounts of
their Unsecured Claim during the term of the Plan. Any statute of
limitation applicable to such claims are tolled during the term of
the Plan. Class 7 is Impaired.

KMA and LMP shall retain their Equity Interest in the Debtor but
shall not receive any distributions on account of such interest
during the term of the Plan. Class 8 is Impaired.

The Reorganized Debtor will continue to operate the School. The
income from the School will be used to fund the operating expenses
of the School and the net income will be used to pay the amounts
necessary to fund the Plan payments.

Gross revenues have averaged $112,679.31 per month since the
petition date. The Debtor believes that the income from the School,
with the accumulated cash, will be sufficient to make the payments
required by the Plan

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

The Debtor is represented by:

  FRANK B. LYON
  State Bar No. 12739800
  LAW OFFICES OF FRANK B. LYON
  3508 Far West Blvd., Ste. 170
  Austin, Texas 78731
  Tel No: 512-345-8964/512-697-0047 (fax)
  Email: Frank@franklyon.com


LIQUIDNET HOLDINGS: S&P Alters Outlook to Neg., Affirms BB- ICR
---------------------------------------------------------------
S&P Global Ratings revised its outlook on Liquidnet Holdings Inc.
to negative from positive and affirmed its 'BB-' issuer credit and
senior secured debt ratings.

The outlook revision reflects the firm's underperformance in 2019,
with revenue down over 10% in the first three quarters compared
with the same period last year. While the firm has cut compensation
costs to help offset some of this, it has still resulted in
increased debt to EBITDA on both an S&P Global Ratings and covenant
calculation basis. With debt to EBITDA at 2.5x on a debt-covenant
basis, the company now has limited cushion above its 2.75x covenant
requirement and no room at all when the covenant steps down to 2.5x
in March 2020 in the absence of additional debt prepayments from
excess cash or improved performance.

The negative outlook reflects the deterioration in leverage and the
limited cushion above the current covenant limit (and no room under
the March 2020 stepped-down limit in the absence of additional debt
prepayments from excess cash or improved performance). S&P's
central scenario is that management will address its covenant
issues well before March 2020.

"Over the next 12 months, we could revise the outlook to stable if
leverage decreases materially or Liquidnet addresses the covenant
either by paying down debt or having the covenant limit raised to a
level that provides a conservative cushion above our leverage
projections," S&P said.

"Over the same time horizon we could lower the ratings if we expect
weighted average debt to EBITDA to be above 3x or funds from
operations to debt below 20%, or if, contrary to our expectations,
the firm does not address the covenant issues successfully," the
rating agency said.


LITESTREAM HOLDINGS: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Litestream Holdings, LLC
        500 Australian Avenue South, Suite 648
        West Palm Beach, FL 33401

Case No.: 19-26043

Business Description: Litestream Holdings, LLC is a Florida-based
                      provider of video, broadband, and phone
                      services.

Chapter 11 Petition Date: November 27, 2019

Court: United States Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Hon. Mindy A. Mora

Debtor's Counsel: Robert C. Furr, Esq.
                  FURRCOHEN P.A.
                  2255 Glades Rd #301E
                  Boca Raton, FL 33431
                  Tel: (561) 395-0500
                  Fax: (561) 338-7532
                  Email: ltitus@furrcohen.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Paul Rhodes, managing member.

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/flsb19-26043.pdf


LONGHORN SERVICE: Allowed to Use Cash Collateral Until Jan. 2
-------------------------------------------------------------
Judge Janice D. Loyd the U.S. Bankruptcy Court for the Western
District of Oklahoma inked her approval to an Agreed Final Order
authorizing Longhorn Service Company, LLC to use cash collateral.

Interbank has agreed to the Debtor's use of cash collateral to pay
the ordinary and necessary operating expenses of the Estate's
business and assets only for the period from Oct. 18 through and
including Jan. 2, 2020, pursuant to and in accordance with the
terms of the Agreed Final Order.

The Debtor and Interbank are parties to certain agreements
evidencing borrowings by Debtor from Interbank. Interbank asserts
approximately $13,000,000 is owed on the Loan Claims as of the
Petition Date, secured by first-priority valid and perfected liens
on, inter alia, all of the Estate's right, title, present and
future interest in the Collateral.

Interbank is granted valid, binding, enforceable, and automatically
perfected liens co-extensive with Interbank's pre-petition liens,
in all currently owned or hereafter acquired property and assets of
the Estate, of any kind or nature, whether real or personal,
tangible or intangible, wherever located, now owned or hereafter
acquired or arising and all proceeds and products thereof,
including, without limitation, all cash, goods, accounts
receivable, general intangibles, and deposit accounts, which are
related to the Collateral, excluding only causes of action arising
under chapter 5 of the Bankruptcy Code.

A copy of the Agreed Final Order is available for free at
https://tinyurl.com/rd7lk5p from Pacermonitor.com

Longhorn Service Company LLC is a privately held company in the
well servicing business serving oil & gas operators.  Longhorn
Service was established in 1988 by Tom and Randy Holder.

Longhorn Service sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Okla. Case No. 19-14276) on Oct. 18,
2019. The petition was signed by Tom Holder, member. At the time of
the filing, the Debtor disclosed assets ranging between $10 million
to $50 million and liabilities of the same range. The Debtor is
represented by Stephen J. Moriarty, Esq. at FELLERS SNIDER.



LTI HOLDINGS: S&P Alters Outlook to Negative, Affirms 'B-' ICR
--------------------------------------------------------------
S&P Global Ratings affirmed its 'B-' issuer credit rating on LTI
Holdings Inc. and revised the outlook to negative from stable. At
the same time, S&P affirmed its 'B-' issue-level rating on the
company's $1.425 billion first-lien term loans and $125 million
revolver with a '4' recovery rating, and the 'CCC+' rating on the
company's $315 million second-lien term loan with a '5' recovery
rating.

The negative outlook reflects LTI's recently announced $200 million
product liability, coupled with significant sales declines to some
of the company's key customers. In S&P's opinion, these factors
will pressure credit metrics over the next year and increase the
likelihood of a lower rating. However, it maintains adequate
liquidity, especially relative to similarly related peers.
Moreover, S&P thinks the coming buildout of 5G infrastructure could
lead to good revenue growth.

"The negative outlook on LTI reflects our belief that there is at
least a 1-in-3 chance we could lower the ratings should revenue
decline further and operational quality issues continue into 2020.
We expect cash flow generation to remain positive over the next 12
months while leverage improves toward the mid-9x area over the next
year," S&P said.

"We could lower our ratings on LTI if deteriorating operating
performance constrains its liquidity position. This could occur,
for example, from a deterioration in LTI's end markets, leading to
large losses among major customers. We could also downgrade the
company if we believe LTI's capital structure has become
unsustainable in the long term, which could result from aggressive
debt-financed acquisitions or further product liability issues,"
the rating agency said.

S&P said it could revise its outlook to stable if the company's
operations improve meaningfully. This would involve, among other
things, further diversification of the company's customer base and
management's adoption of a more conservative financial policy.
Among other things, this would cause debt to EBITDA to improve
toward 8x and EBITDA coverage ratio above 1.5x on a sustained
basis.


MIRAGE DENTAL: Estimated 100% Recovery for Unsecureds Under Plan
----------------------------------------------------------------
Debtor Mirage Dental Associates, Professional L.L.C. filed with the
U.S. Bankruptcy Court for the District of Colorado a third amended
disclosure statement in support of its third amended chapter 11
plan of reorganization.

Class 11 shall be comprised of all creditors who hold Allowed
Unsecured Claims against the Debtor, including any allowed claims,
not subordinated by Order of the Bankruptcy Court, held by any
governmental agency which are not related to actual pecuniary loss,
by any employee of the Debtor in an amount in excess of $12,475 or
otherwise not subject to treatment under 11 U.S.C. § 507(a)(4),
and any deficiency claim of any secured creditor.  Class 11
creditors shall receive pro-rata distributions on an annual basis
from the Debtor’s Creditor Fund within thirty (30) days of each
anniversary of the Effective Date for a period of six (6) years.

Class 12 consists of all insider unsecured claims against the
Debtor, namely all amounts loaned to the Debtor by Mr. Michael
Moroni and/or his spouse, to the extent allowed under 11 U.S.C. §
502. Class 12 is impaired. Class 12 shall receive nothing on
account of their claims.

Class 13 consists of all unsecured claims that are subordinated to
all other unsecured claims, including any claims for penalties not
related to actual pecuniary loss and any civil penalties of any
governmental authority, together with any pre-petition interest
accrued on such claims. Such class includes the subordinated
penalty claims of the IRS and Colorado Department of Revenue. Class
13 shall receive nothing on account of their claims.

Class 14 includes the Interests in the Debtor held by the
pre-confirmation members, Dr. Moroni. Class 14 is unimpaired by the
Plan. On the Effective Date of the Plan, all Class 14 interests in
the Debtor shall be retained by the existing interest holder
subject to the terms of the Plan, and shall retain all existing
rights and privileges.

On the Effective Date, the Debtor shall establish a separate bank
account for funds to be held by the Debtor to pay to unsecured
creditors in order to insure performance of her obligations under
the Plan. All funds held by the Reorganized Debtor for distribution
under the Plan shall be held in accounts which are insured or
guaranteed by the United States or by a department, agency or
instrumentality of the United States or backed by the full faith
and credit of the United States.

Under the Plan, the Debtor will contribute 50% of its net income,
after service of secured and priority debts, over a period of six
(6) years to the Creditor Fund. The Debtor estimates that it will
deposit approximately $2,357,647 in net revenues into the Creditor
Fund over the life of the Plan. As a result, the Debtor estimates
that unsecured creditors, including the deficiency claims of the
secured creditors, will receive a 100% return.

A full-text copy of the amended plan is available at
https://tinyurl.com/ubetrat from PacerMonitor.com at no charge.

The Debtor is represented by:

   BUECHLER LAW OFFICE, LLC
   Kenneth J. Buechler, Esq.
   999 18th Street, Suite 1230-S
   Denver, Colorado 80202
   Tel: 720-381-0045
   Fax: 720-381-0382
   Email: ken@KJBlawoffice.com

              About Mirage Dental Associates

Mirage Dental Associates, Professional, LLC, is a privately-held
company in Castle Rock, Colorado, that owns a dental clinic.

Mirage Dental Associates sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Colo. Case No. 18-12496) on March 30,
2018. In the petition signed by Michael J. Moroni, Jr., managing
member, the Debtor disclosed $5.41 million in assets and $8.72
million in liabilities. Judge Joseph G. Rosania Jr. oversees the
case. The Debtor tapped Buechler & Garber, LLC, as its legal
counsel. No official committee of unsecured creditors has been
appointed in the Chapter 11 case.


MMMT CORPORATION: Court Grants Final OK on Cash Collateral Motion
-----------------------------------------------------------------
Judge Mike K. Nakagawa approved, on a final basis, the motion to
use cash collateral filed by MMMT Corporation, pursuant to which
the Debtor may use cash collateral based on the amended budget, a
copy of which is available at https://is.gd/D8Qno8  from
PacerMonitor.com free of charge.

                    About MMMT Corporation

MMMT Corporation, a company that operates a skilled nursing
facility in Las Vegas, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Nev. Case No. 19-16113) on Sept. 21,
2019.  At the time of the filing, the Debtor was estimated to have
assets of less than $50,000 and liabilities of between $10 million
and $50 million.  The case is assigned to Judge Mike K. Nakagawa.
Johnson & Gubler, P.C., is the Debtor's legal counsel.


MWM OIL: Eron Law Represents Jerry Botts & 3 Others
---------------------------------------------------
In the Chapter 11 cases of MWM Oil Company, Inc., the law firm of
Eron Law, P.A. submitted a verified statement under Rule 2019 of
the Federal Rules of Bankruptcy Procedure to disclose that it is
representing Jerry Botts of QES Pressure Pumping; (ii) Brandon
Cross of The Buckeye Supply Co.; (iii) Perry Jones; and (iv) Jerry
Sullivan of Dyna-Log, Inc.

On October 15, 2019, the United States Trustee appointed the
Official Committee of Unsecured Creditors pursuant to Sections
1102(a) and (b) of Title 11 of the United States Code. The
Committee has retained Eron Law, P.A. as counsel.

On September 6, 2019, the US Trustee amended its appointment of the
Committee to remove a member. The Committee now consists of the
following four members: (i) Jerry Botts of QES Pressure Pumping;
(ii) Brandon Cross of The Buckeye Supply Co.; (iii) Perry Jones;
and (iv) Jerry Sullivan of Dyna-Log, Inc. (See Amendment filed at
Doc. No. 102.)

As of Nov. 26, 2019, the Committee members and their disclosable
economic interests are:

(1) Jerry Botts
    QES Pressure Pumping, LLC
    1322 S. Grant
    P.O. Box 884
    Chanute, KS 66720

    QES Pressure Pumping, LLC holds an unsecured claim in the
    amount of $94,300.73 plus 1.5% monthly interest; balance as
    of 3/31/19 ($112,710.82 including interest), evidenced by
    invoices for oilfield services and materials on wells located
    on oil and gas leases owned/operated by the Debtor.
    See filed Claim 21.

    Other name(s) associated with creditor used with the Debtor -
    Consolidated Oil Well Services, LLC

(2) Brandon Cross
    Buckeye Supply Co.
    625 S Main St.
    El Dorado, KS 67042

    The Buckeye Corporation holds an unsecured claim in the
    amount of $61,836.32, evidenced by invoices for goods sold.
    See filed Claim 18.

    Other name(s) associated with creditor used with the Debtor
    - Buckeye Supply Co.

(3) Perry Jones
    222 N. Chautauqua
    Wichita, KS 67214

    Perry Jones holds a secured claim in the amount of $64,724.39,
    with an annual interest rate 20.00%, secured by Promissory
    Note in the amount of $60,000.00 and secured by recorded
    Assignment of Oil & Gas Lease for all working interest in
    Oil & Gas of RAG Oil Co., LLC and MWM Oil Co., Inc. on
property
    located at NW/4 of Section 10, Township 26 South, Range 4
    East Butler County, Kansas containing 160 acres, and Township
    26 South, Range 4 East Section 10: NE/4 (assignment of
    "Melville Lease") for money loaned to MWM Oil Co., Inc.,
    RAG Oil Co., LLC, and Benjamin M. Giles. See filed Claim 20.

    Other name(s) associated with creditor used with the Debtor
    - N/A

(4) Jerry Sullivan
    Dyna-Log, Inc.
    PO Box 105
    El Dorado, KS 67042

    Dyna-Log, Inc. holds a partially secured claim in the amount
    of $34,078.25 (secured $14,666.00 / unsecured $19,412.25),
    partially secured by recorded Oil and Gas Mechanic Lien
    Statements on property located at SE/4 of Section 10,
    Township 26 South, Range 4 East, Butler County, Kansas
    (original O&G Lease recorded in Book 175, at Page 8) and
    NE/4 of Section 10, Township 26 South, Range 4 East, Butler
    County, Kansas (original O&G Lease recorded in Book 2008,
    at Page 4901) for services performed. See filed Claim 7.

    Other name(s) associated with creditor used with the Debtor
    - N/A

Noting in the Verified statement should be construed as a
limitation upon, or waiver of, any Committee member's rights to
assert, file, and/or amend its claim(s) in accordance with
applicable law and any orders entered in this case establishing
procedures for filing proofs of claim.

The Committee reserves the right to amend or supplement this
Verified Statement in accordance with the requirements set forth in
Bankruptcy Rule 2019.

Counsel for the Unsecured Creditors' Committee can be reached at:

          ERON LAW, P.A.
          David Prelle Eron, Esq.
          229 E. William, Suite 100
          Wichita, KS 67202
          Tel: (316)262-5500
          Fax: (316)262-5559
          E-mail: david@eronlaw.net

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/vIuS5W

                    About MWM Oil Company

Based in Towanda, Kansas, RAG Oil Co., Inc. & MWM Oil Company,
Inc.
filed voluntary bankruptcy petitions under Chapter 11 (Bankr. D.
Kan. Case No. 19-11405 & Case No. 19-11404, respectively) on July
26, 2019.  The Debtors are represented by William B. Sorensen, Jr.
at Morris Laing Evans Brock And Kennedy.

The Office of the U.S. Trustee on Oct. 15, 2019, appointed five
creditors to serve on the official committee of unsecured
creditors
in the Chapter 11 case.  The Committee retained Eron Law, P.A., as
counsel.


NAVAHO TOUR: May Use Cash Collateral Thru March 5, 2020
-------------------------------------------------------
Judge Sandra R. Klein authorized Navaho Tour Inc. to use cash
collateral through March 5, 2020.  The Court directed Navaho to
file by Feb. 5, 2020 an updated budget covering the period through
June 30, 2020.  A copy of the Order is available at
https://is.gd/LaW3aK  from PacerMonitor.com free of charge.  

A hearing on the Motion will continue on Feb. 19, 2020 at 9 a.m.  

                      About Navaho Tour Inc.

Navaho Tour Inc. is engaged in the business of arranging and
assembling tours for sale through travel agents.  Navaho Tour
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
C.D. Cal. Case No. 19-19798) on Aug. 21, 2019.  At the time of the
filing, the Debtor was estimated to have assets of between $1
million and $10 million and liabilities of the same range.  The
case is assigned to Judge Sandra R. Klein.  Goldbach Law Group, led
by founding partner Marc Aaron Goldbach, is the Debtor's counsel.





OPTIMUM INVESTMENT: Hires Riggi Law Firm as Bankruptcy Counsel
--------------------------------------------------------------
Optimum Investment LLC asks the U.S. Bankruptcy Court for the
District of Nevada to issue an order authorizing the employment of
the Riggi Law Firm led by David A. Riggi as its Chapter 11 counsel.


The Debtor needs the firm to:

     1. institute, prosecute, or defend any contested matters
arising out of this bankruptcy proceeding in which the Debtor may
be a party;

     2. assist in the recovery and obtaining necessary Court
approval for recovery and liquidation of estate assets, and to
assist in protecting and preserving the same where necessary;

     3. assist in determining the priorities and status of claims
and in filing objections thereto where necessary;

     4. assist in preparation of a disclosure statement and Chapter
11 plan; and

     5. advise the Debtor and perform all other legal services for
the Debtor which may be or become necessary in this bankruptcy
proceeding.

The current hourly rates charged by the firm's professional are:

     A. Not exceeding $450.00 per hour for partners;
     B. Not exceeding $195.00 per hour for associates; and
     C. Not exceeding $100.00 per hour for paralegals or law
clerks.

Other charges that may be considered in an application for
compensation include, but are not limited to: A. Messenger service;
B. Postage and delivery; C. Process service and investigator
charges; D. Copy charges; E. Computer research and word processing
charges; F. Telephone and facsimile charges; G. Travel expenses; H.
Miscellaneous expenses necessarily incurred in connection with the
scope of Services to be performed.

The firm attests that its professionals have no connections with
the Debtor, creditors or any other party in interest, their
respective attorneys and accountants. Furthermore, to the best of
the Debtor's knowledge, the professional person(s) is not related
to a bankruptcy judge and has no connection to the Office of the
United States Trustee.

                     About Optimum Investment

Optimum Investment LLC filed a voluntary Chapter 11 petition
(Bankr. D. Nev. Case No. 19-15609) on August 29, 2019, listing
under $1 million in assets and liabilities, and is represented by
David A. Riggi, Esq., at Riggi Law Firm.



P.P.S. TRUCKING: Wants to Continue Using Interbank Cash Collateral
------------------------------------------------------------------
P.P.S. Trucking, LLC, seeks authority from the U.S. Bankruptcy
Court for the Western District of Oklahoma to use cash collateral
in the ordinary course of its business.

Absent further agreement or approval of the Court, authority to use
cash collateral will expire on Jan. 24, 2020.

The Debtor needs to use the proceeds from its account collections
to pay normal operating expenses in order to maintain its current
business operations. Additionally, the Debtor has an immediate need
to fund payroll expenses and other overhead expenses related to the
ordinary course of its business, as well as to pay the
professionals retained by the Debtor to assist it in its
reorganization efforts.

Interbank holds a claim against the Debtor in the approximate
amount of $13,000,000 secured by substantially all of Debtor's
assets, including the proceeds therefrom.

The Debtor proposes the following forms of adequate protection,
subject to approval by the Court:

     (a) The Debtor will only expend cash collateral for the items
set forth in the Budget, which will also include a variance of 10%
each month, which variance will be comprised of any one or more
line-item expenses;

     (b) The Debtor will provide Interbank with a replacement lien,
subject only to prior non-avoidable liens, in all of Debtor's
assets, excluding only causes of action arising under chapter 5 of
the Bankruptcy Code; and

     (c) The Debtor will provide Interbank with a monthly
budget-to-actual variance report.

A copy of the Motion is available for free at
https://tinyurl.com/t5g3anw from Pacermonitor.com

                     About P.P.S. Trucking

P.P.S. Trucking, LLC, a provider of trucking services in Hennessey,
Okla., filed a voluntary petition under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Okla. Case No. 19-14563) on Nov. 7,
2019. In the petition signed by Tom Holder, vice-president, the
Debtor estimated $50,000 in assets and $10 million to $50 million
in liabilities. Stephen J. Moriarty, Esq., at Fellers, Snider,
Blankenship, Bailey & Tippens, P.C., is the Debtor's counsel.



PALMDALE AEROSPACE ACADEMY: S&P Puts 'BB' Bond Rating on Watch Neg.
-------------------------------------------------------------------
S&P Global Ratings placed its 'BB' rating on California Municipal
Finance Authority's charter school revenue bonds, issued for The
Palmdale Aerospace Academy (TPAA), on CreditWatch with negative
implications.

"The CreditWatch negative placement reflects our view of heightened
uncertainty surrounding TPAA's charter contract following the
dismissal of the school's headmaster and chief academic officer
earlier this month following allegations related to the
mismanagement of the school's special education program," said S&P
Global Ratings credit analyst Brian Marshall.

While the school has communicated that the charter is not at risk
and was renewed in 2017 through June 30, 2022, S&P plans to speak
to the authorizer to confirm TPAA's charter status in December. The
rating agency believes recent allegations have potentially
increased the likelihood of nonrenewal, which it would view as a
materially negative credit factor.

The 'BB' rating reflects S&P's view of TPAA's successful opening of
a new elementary school on time and on budget, healthy demand
metrics for the rating level, adequate academic scores, and
projected improved liquidity based on fiscal 2019 projections
following anticipated operating surpluses for fiscal years 2019 and
2020 due to positive enrollment trends."

TPAA is a public charter school in Los Angeles County, in its
seventh year of operation, serving students in grades six to 12.
Officials also successfully opened an elementary school in fiscal
2020. The school's mission is to prepare graduates for college and
careers by emphasizing science, technology, engineering, and
mathematics (STEM) skills through the lens of aerospace while
satisfying the standards of the common core curriculum.

The outstanding bonds are secured by all pledged revenues
(including state payments), as well as a first-priority mortgage
and security interest on the new facility. Officials used series
2018 bond proceeds to construct an elementary school that serves
kindergarten to grade 5 students and to reimburse TPPA for costs
associated with the project.

"We expect to evaluate the rating and resolve the CreditWatch
within the 90-day time frame, once we receive further information
from authorizer on the consequences to the school's charter. Based
on the information we receive, we could take negative rating action
depending on severity and immediacy of risk to the charter.
Conversely, we could remove the CreditWatch if we receive
information from the authorizer that the charter is not at
increased risk," S&P said.


PALMER-TECH SERVICES: Court Denies Motion to Use Cash Thru Sept. 28
-------------------------------------------------------------------
Judge Jack B. Schmetterer denied the motion filed by Palmer-Tech
Services, Inc., to use cash collateral through Sept. 28, 2019 in an
order dated Nov. 27, 2019, a copy of which is available at
https://is.gd/Yx78Dd from PacerMonitor.com at no charge.  

                   About Palmer-Tech Services

Palmer-Tech Services Inc. -- https://www.palmercanning.com/ --
located in Chicago, Illinois, assembles, fabricates, and installs
canning machinery for the canned beverage industry.

Palmer-Tech Services filed a Chapter 11 bankruptcy petition (Bankr.
N.D. Ill. Case No. 19-26085) on Sept. 16, 2019 in Chicago,
Illinois.  In the petition signed by Michael Palmer, president, the
Debtor was estimated to have both assets and liabilities ranging
from $1 million to $10 million.  The Hon. Jack B. Schmetterer is
the case judge.  FACTORLAW is the Debtor's counsel.




PALMER-TECH SERVICES: PNC Bank Wins Objection to Cash Request
-------------------------------------------------------------
PNC Bank, National Association, sought and obtained approval from
the Bankruptcy Court to prohibit Palmer-Tech Services, Inc., to use
cash collateral.  PNC has complained of inadequacy of the
protection afforded it by the Debtor owing to the Debtor's
"financial performance since the Petition Date".  A copy of the
Objection is available at https://is.gd/phbjBs  from
PacerMonitor.com free of charge.  

The Court, accordingly, modified the automatic stay permitting PNC
Bank to effectuate its state court rights against the Debtor's
personal property.  The Court also prohibited the Debtor from
further use of cash collateral.

A copy of the Order is available at https://is.gd/NREIL0  from
PacerMonitor.com free of charge.  

                   About Palmer-Tech Services

Palmer-Tech Services Inc. -- https://www.palmercanning.com/ --
located in Chicago, Illinois, assembles, fabricates, and installs
canning machinery for the canned beverage industry.

Palmer-Tech Services filed a Chapter 11 bankruptcy petition (Bankr.
N.D. Ill. Case No. 19-26085) on Sept. 16, 2019 in Chicago,
Illinois.  In the petition signed by Michael Palmer, president, the
Debtor was estimated to have both assets and liabilities ranging
from $1 million to $10 million.  The Hon. Jack B. Schmetterer is
the case judge.  FACTORLAW is the Debtor's counsel.






PHX INVESTMENT: Case Summary & 10 Unsecured Creditors
-----------------------------------------------------
Debtor: PHX Investment Group, LLC
        4358 B Old Shell Road 317
        Mobile, AL 36608

Business Description: PHX Investment Group operates as a
                      real estate investment company.

Chapter 11 Petition Date: November 25, 2019

Court: United States Bankruptcy Court
       Southern District of Alabama (Mobile)

Case No.: 19-14154

Judge: Hon. Henry A. Callaway

Debtor's Counsel: Barry A. Friedman, Esq.
                  FRIEDMAN, POOLE & FRIEDMAN, P.C.
                  P.O. Box 2394
                  Mobile, AL 36652-2394
                  Tel: (251) 439-7400
                  E-mail: bky@bafmobile.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Demetrius Moore, authorized
representative.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 10 unsecured creditors is available for free
at:

          http://bankrupt.com/misc/alsb19-14154.pdf


PIONEER UK: S&P Affirms 'B' ICR, Alters Outlook to Negative
-----------------------------------------------------------
S&P Global Ratings affirmed its 'B' long-term issuer credit rating
on Philadelphia -based contract pharmaceutic packager Pioneer UK
Midco I Ltd. (which operates as PCI Pharma) but revised the outlook
to negative from stable.

S&P's revised outlook reflects its view that there is greater risk
to its base case expectations for PCI Pharma.  S&P believes it is
less certain that PCI Pharma will generate $35 million-$40 million
of operating cash flow because of the sale-leaseback transaction,
high capital investment, and operating results that have slightly
missed the rating agency's expectations for 2019. It believes $40
million of free cash flow enables the company to internally fund
its substantial growth-oriented capital investments, a
characteristic consistent with a 'B' rating.

S&P's negative outlook reflects the increased financial risk of PCI
Pharma from its recent sale-leaseback transaction that potentially
increases debt leverage depending on the use of proceeds. The
outlook also incorporates risk of operating underperformance to
S&P's base case of high-single-digit reported revenue growth and
EBITDA margin improvement of 150 to 200 basis points.

"We could lower the rating if we expected PCI Pharma to generate
operating cash flow less than $35 million to $40 million annually
over the next few years. This scenario could occur if biotech
funding declined, competition for new customers intensified, and
PCI lost volume or conceded on price, leading to missing our
base-case forecast. This scenario would lead us to believe that the
return on growth investments were lower than expected," S&P said.

In addition, S&P could consider a lower rating even if the company
met the rating agency's base case forecast, but used most of the
proceeds of the sale-leaseback to fund a dividend because this
would result in adjusted leverage of about 8x.

"Alternatively, we could consider a lower rating if the company
engaged in a larger-than-expected debt-financed acquisition such
that it sustained pro forma leverage above 8x for more than one
year following the acquisition," the rating agency said.


PRA HEALTH: S&P Rates New $1.75BB Senior Credit Facility 'BB'
-------------------------------------------------------------
S&P Global Ratings assigned its 'BB' issue-level rating to PRA
Health Sciences Inc.'s (PRAH) new $1.75 billion senior credit
facility. The recovery rating is '3', indicating its expectations
for meaningful (50%-70%; rounded estimate: 50%) recovery in a
default.

Pro forma for this transaction, PRAH's capital structure consists
of a $200 million accounts receivable facility, a $750 million
revolver (upsized from $225 million), and a$1.0 billion term loan.

S&P's 'BB' issuer credit rating on PRAH reflects its belief that
the company's adjusted leverage will remain in the 3x-4x range in
the long term given its expectation for tuck-in acquisitions or
share repurchases.



PRECIPIO INC: COO Adopts Stock Trading Plan to Buy Common Stock
---------------------------------------------------------------
Ahmed Zaki Sabet, the chief operating officer of Precipio, Inc.,
adopted a stock trading plan in accordance with Rule 10b5-1 of the
Securities and Exchange Act of 1934, as amended, to purchase shares
of the Company's common stock.

Under the Plan, a broker will purchase up to $300 of shares of the
Company's common stock at prevailing market prices on the first day
of every third calendar month, commencing Dec. 1, 2019.
Transactions under the Plan will be reported to the Securities and
Exchange Commission in accordance with applicable securities laws,
rules and regulations.

The Plan adopted by Ahmed Zaki Sabet is intended to comply with
Rule 10b5-1 of the Exchange Act and the Company's Insider Trading
and Anti-Tipping Policy, which permit issuers, officers, directors
or employees who are not then in possession of material non-public
information to enter into a pre-arranged plan for buying or selling
Company stock under specified conditions and at specified times.

In accordance with Rule 10b5-1, Ahmed Zaki Sabet will have no
discretion over purchases under the Plan.  Because the purchases
under the Plan are subject to certain market pricing parameters and
trading limitations, there is no guarantee as to the exact number
of shares that will be purchased under the Plan, or that there will
be any purchases pursuant to the Plan.  Except as may be required
by applicable law, the Company does not undertake to report
modifications, terminations or other activities under the Plan for
Ahmed Zaki Sabet.

                        About Precipio

Omaha, Nebraska-based Precipio, formerly known as Transgenomic,
Inc. -- http://www.precipiodx.com-- is a cancer diagnostics
company providing diagnostic products and services to the oncology
market.  The Company has developed a platform designed to eradicate
misdiagnoses by harnessing the intellect, expertise and technology
developed within academic institutions and delivering quality
diagnostic information to physicians and their patients worldwide.
Precipio operates a cancer diagnostic laboratory located in New
Haven, Connecticut and has partnered with the Yale School of
Medicine.

Precipio incurred a net loss of $15.69 million for the year ended
Dec. 31, 2018, compared to a net loss of $20.69 for the year ended
Dec. 31, 2017.  As of Sept. 30, 2019, Precipio had $22.52 million
in total assets, $7.23 million in total liabilities, and $15.29
million in total stockholders' equity.

The audit opinion included in the Company's annual report for the
year ended Dec. 31, 2018, contains a "going concern" explanatory
paragraph. Marcum LLP, in Hartford, CT, the Company's auditor since
2016, stated in its report dated April 16, 2019 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.


PROVIDENT FUNDING 2019-1: Moody's Rates Class B-5 Debt (P)Ba3
-------------------------------------------------------------
Moody's Investors Service assigned provisional ratings to 18
classes of residential mortgage-backed securities issued by
Provident Funding Mortgage Trust 2019-1. The ratings range from
(P)Aaa (sf) to (P)Ba3 (sf).

Provident 2019-1 is the first transaction entirely backed by loans
originated by the sponsor, Provident Funding Associates, L.P.
(Provident Funding). Provident 2019-1, a common law trust formed
under the laws of the State of New York, is a securitization of
agency-eligible mortgage loans originated and serviced by Provident
Funding, a California limited partnership (corporate family rating
B1; senior unsecured B2) and will be the first transaction for
which Provident Funding is the sole originator and servicer.

As of the cut-off date of November 1, 2019, the pool contains of
947 mortgage loans with an aggregate principal balance of
$337,597,325 secured by first liens on one- to four-family
residential properties, condominiums or planned unit developments,
originated from August 2019 through October 2019, and are fully
amortizing, fixed-rate Safe Harbor QM (QM) loans, each with an
original term to maturity of 30 years. The mortgage loans have
principal balances which meet the requirements for purchase by
Fannie Mae or Freddie Mac, and were underwritten pursuant to the
guidelines of Fannie Mae or Freddie Mac, as applicable, using their
automated underwriting systems (collectively, agency-eligible
loans). Overall, the credit quality of the mortgage loans backing
this transaction is similar to that of transactions issued by other
prime issuers.

Provident Funding will act as the initial servicer of the mortgage
loans (in such capacity, the Servicer). The Servicer will service
the mortgage loans pursuant to the pooling and servicing agreement.
Wells Fargo Bank, N.A (Wells Fargo, rated Aa1) will be the master
servicer, securities administrator, paying agent and certificate
registrar and the trustee will be Wilmington Savings Fund Society,
FSB.

The complete rating actions are as follows:

Issuer: Provident Funding Mortgage Trust 2019-1

Cl. A-1, Assigned (P)Aaa (sf)

Cl. A-1A, Assigned (P)Aaa (sf)

Cl. A-2, Assigned (P)Aaa (sf)

Cl. A-2A, Assigned (P)Aaa (sf)

Cl. A-3, Assigned (P)Aaa (sf)

Cl. A-3A, Assigned (P)Aaa (sf)

Cl. A-4, Assigned (P)Aaa (sf)

Cl. A-4A, Assigned (P)Aaa (sf)

Cl. A-5, Assigned (P)Aa1 (sf)

Cl. A-5A, Assigned (P)Aa1 (sf)

Cl. A-6, Assigned (P)Aaa (sf)

Cl. A-6A, Assigned (P)Aaa (sf)

Cl. A-7, Assigned (P)Aaa (sf)

Cl. B-1, Assigned (P)Aa3 (sf)

Cl. B-2, Assigned (P)A2 (sf)

Cl. B-3, Assigned (P)Baa1 (sf)

Cl. B-4, Assigned (P)Baa3 (sf)

Cl. B-5, Assigned (P)Ba3 (sf)

RATINGS RATIONALE

Summary Credit Analysis and Rating Rationale

Moody's expected loss for this pool in a baseline scenario is 0.31%
and reaches 3.46% at a stress level consistent with its Aaa
ratings.

Moody's calculated losses on the pool using its US Moody's
Individual Loan Analysis model based on the loan-level collateral
information as of the cut-off date. Loan-level adjustments to the
model results included, but were not limited to, adjustments for
origination quality, third-party review (TPR) scope and results,
and the financial strength of the representation & warranty (R&W)
provider.

Collateral Description

As of the cut-off date of November 1, 2019, the pool contains of
947 mortgage loans with an aggregate principal balance of
$337,597,325 secured by first liens on one- to four-family
residential properties, condominiums or planned unit developments,
originated from August 2019 through October 2019, and are fully
amortizing, fixed-rate Safe Harbor "qualified mortgages" (QM)
loans, each with an original term to maturity of 30 years. The
mortgage loans have principal balances which meet the requirements
for purchase by Fannie Mae or Freddie Mac, and were underwritten
pursuant to the guidelines of Fannie Mae or Freddie Mac, as
applicable, using their automated underwriting systems.

Borrowers of the mortgage loans backing this transaction have
strong credit profiles demonstrated by strong credit scores, high
percentage of equity and significant liquid reserves. The average
stated principal balance is $356,491 and the weighted average (WA)
current mortgage rate is 3.6%. The mortgage pool has a WA original
term of 30 years. The mortgage pool has a WA seasoning of 1.1
months. The borrowers have a WA credit score of 776, WA combined
loan-to-value ratio (CLTV) of 66.6% and WA debt-to-income ratio
(DTI) of 33.3%. Most of the properties are located in California
(25.4% by balance). The credit quality of the transaction is in
line with recent prime jumbo transactions that Moody's has rated.

Approximately 61.1% of the loans (by loan balance) were originated
through the broker channel. Approximately 29.1% and 9.8% were
originated through retail and correspondent channels, respectively.
This pool has a lower proportion of purchase loans (28% by loan
balance) compared to recent JPMMT transactions which typically
contained about 50% to 70% of such loans. Refinance loans,
including debt consolidation, constitute 72% of the pool, with
about 34% of the pool as cash-out refinance loans. Furthermore,
approximately 62.3% (by loan balance) of the properties backing the
mortgage loans are located in five states: California, Utah, Texas,
Colorado and Oregon, with 25.4% (by loan balance) of the properties
located in California. Properties located in the states of
Washington, North Carolina, Pennsylvania, Arizona, and Georgia
round out the top ten states by loan balance. Approximately 81.4%
(by loan balance) of the properties backing the mortgage loans
included in Provident 2019-1 are located in these ten states.
Overall, the credit quality of the transaction is in line with
recent prime jumbo transactions that Moody's has rated.

Third Party Review and Reps & Warranties (R&W)

Two third-party due diligence (TPR) firms verified the accuracy of
the loan level information. The TPR firms conducted detailed
credit, property valuation, data accuracy and compliance reviews on
100% of the mortgage loans in the collateral pool. From the initial
pool of reviewed mortgage loans by the TPR firms, 59 mortgage loans
were removed from the final mortgage pool for the following
reasons: (i) 16 due to an inaccurate designation of a small
borrower paid fee in the TRID disclosures that were remitted by law
to a state governmental reinsurance fund, (ii) five due to issues
related to a CDA where a field review could not be obtained in time
for the transaction, (iii) four for points and fees in excess of
the maximum permitted for "qualified mortgages", and (iv) 34 for
miscellaneous individual minor compliance and documentation issues
unrelated to the credit of the borrower. The TPR results indicate
that the majority of reviewed loans were in compliance with
originator's underwriting guidelines, that there were no material
compliance or data issues, and that there were no material
appraisal defects. Moody's did not make any adjustments to its base
case and Aaa stress loss assumptions based on the TPR results.

Overall, Moody's considers the strength of the R&W framework in
Provident 2019-1 to be adequate. Its analysis of the R&W framework
considers the R&Ws, enforcement mechanisms and creditworthiness of
the R&W provider. The sponsor has provided unambiguous R&Ws with no
material knowledge qualifiers and not subject to a sunset. There is
a provision for binding arbitration in the event of a dispute
between investors and the R&W provider concerning R&W breaches.
However, while the sponsor has provided R&Ws that are generally
consistent with a set of credit neutral R&Ws that we've identified
in its methodology, the R&W framework in Provident 2019-1 differs
from some of the other prime jumbo transactions because breach
review is not automatic since an independent reviewer is not named
at closing and there is a possibility that an independent reviewer
will not be appointed altogether. As a result, there is a risk that
some loans with R&W defects may not be reviewed. In general,
reviews are performed at the option and expense of the controlling
holder (which is the holder of majority of the most subordinate
certificates), or if there is no controlling holder (which is the
case at closing, because an affiliate of the sponsor will hold the
subordinate classes and thus there will be no controlling holder
initially), a senior holder group. Specifically, once a review
trigger has been met (i.e. 120-day delinquency), it is the
responsibility of the controlling holder, or the senior holder
group, to engage an independent reviewer and to bear the costs of
the review, even if a breach is discovered (unless the R&W is an
"intrinsic representation", then the sponsor will bear the cost of
review). If the controlling holder and the senior holder group
elect not to engage an independent reviewer to conduct a breach
review, the loan may not be reviewed, which may result in systemic
defects remaining undetected. In its analysis, Moody's considersed
the incentives of the controlling holder (the holder of the most
subordinate certificateholder, has the most at stake in a default)
and the senior holder group, that a third-party due diligence firm
has performed a 100% review of the mortgage loans as well as the
early payment default protection in this transaction.

Origination quality

Moody's considers Provident Funding an adequate originator of
agency-eligible mortgage loans based on the company's staff and
processes for underwriting, quality control, risk management and
performance. The company, a limited partnership that is closely
held by senior management, including CEO Craig Pica, was formed in
1992, as a privately held mortgage banking company headquartered in
San Bruno, California. The company originates, sells and services
residential mortgage loans throughout the US. The company is ranked
as the 34th largest originator for the first six months of 2019
with approximately $5.8 billion in loan origination volume, having
fallen from the 16th largest in 2013. The company has originated
$330+B loans since 1998 (with over 10B YTD 2019). The company
sources loans through a nationwide network of independent brokers,
correspondent lenders and in-house retail channel. All the mortgage
loans in this transaction were originated either through Fannie
Mae's Desktop Underwriter "DU" program or Freddie Mac's Loan
Product Advisor "LP" program in accordance with the underwriting
criteria applicable to such programs, as modified or supplemented
by an additional overlay of the company.

Servicing arrangement

Provident Funding will service the mortgage loans pursuant to the
pooling and servicing agreement. Moody's considers the overall
servicing arrangement for this pool to be adequate given the
servicing abilities of the Provident Funding as primary servicer.
Moody's also consider the presence of a strong master servicer to
be a mitigant against the risk of any servicing disruptions.
Moody's did not make any adjustments to its base case and Aaa
stress loss assumptions based on the servicing arrangement.

Servicer: Provident Funding was formed in 1992, as a privately held
mortgage banking company headquartered in San Bruno, California,
and has been servicing residential mortgage loans since 2009.
Provident Funding is rated B1 by Moody's (similar to other non-bank
entities). The company originates, sells and services residential
mortgage loans throughout the US. The company is a limited
partnership that is closely held by senior management, including
CEO Craig Pica. The COO and chief technology officer also are
members of the Pica family. The company is an approved
seller/servicer in good standing with the Government National
Mortgage Association, the Federal National Mortgage Association,
the Federal Home Loan Mortgage Corporation, the Federal Housing
Administration , the United States Department of Agriculture and
the United States Department of Veterans Affairs.

Before distributions are made on the certificates, the servicer
will be paid an aggregate monthly fee equal to 0.25% per annum of
the stated principal balance of each mortgage loan as of the first
day of the related due period. The servicer will also be entitled
to receive, to the extent provided in the pooling and servicing
agreement, additional compensation in the form of prepayment
interest excess in excess of prepayment interest shortfalls, late
charges and certain other ancillary fees paid by borrowers, REO
management fees (in certain cases) and interest or other income
earned on funds the Servicer has deposited in the collection
account pending remittance to the distribution account.

Master Servicer: Wells Fargo will be the master servicer. Moody's
considers the presence of a strong master servicer to be a mitigant
for any servicing disruptions. Moody's considers Wells Fargo as a
strong master servicer of prime residential mortgage loans. Wells
Fargo maintains a significant market presence in third-party master
servicing space. Based on portfolio size, Wells Fargo is the
largest RMBS master servicer. The master servicing operations,
based in Columbia, Maryland, are part of the corporate trust
services division of the bank, which operates under the wholesale
banking division of Wells Fargo Bank, N.A. Its evaluation of Wells
Fargo as a master servicer takes into account the bank's strong
reporting and remittance procedures, servicer compliance and
monitoring capabilities and servicing stability.

Before distributions are made on the certificates, the master
servicer will be paid prior to deposit into the distribution
account, a monthly fee equal to the greater of (i) 0.021% per annum
multiplied by the stated principal balance of each mortgage loan as
of the first day of the related due period and (ii) $3,500. The
fees of the securities administrator will be paid by the master
servicer from the Master Servicing Fee.

Securities Administrator/Custodian/Trustee

Securities administrator, paying agent and certificate registrar:
Wells Fargo. As securities administrator, Wells Fargo will perform
certain securities administration duties with respect to the
certificates, including acting as authentication agent, calculation
agent, paying agent, certificate registrar, and the party
responsible for preparing distribution statements and preparing tax
filings for the issuing entity.

Custodian: Deutsche Bank National Trust Company (rated A2), a
national banking association, will act as custodian of the mortgage
files pursuant to a custodial agreement. The custodian will
maintain custody of the mortgage loan documents relating to the
mortgage loans on behalf of the trustee for the benefit of the
certificateholders.

Trustee: Wilmington Savings Fund Society, FSB will act as the
trustee for this transaction.

Other Considerations

Servicer optional purchase of delinquent loans: The servicer has
the option to purchase any mortgage loan which is 90 days or more
delinquent, which may result in the step-down test used in the
calculation of the senior prepayment percentage to be satisfied
when otherwise it would not have been. Moreover, because the
purchase may occur prior to the breach review trigger of 120 days
delinquency, the loan may not be reviewed for breaches of
representations and warranties and thus, systemic defects may
remain undetected. In its analysis, Moody's considersed that the
loans will be purchased by the servicer at par and that a
third-party due diligence firm has performed a 100% review of the
mortgage loans. Moreover, the reporting for this transaction will
list the mortgage loans purchased by the servicer.

Tail Risk & Subordination Floor

The transaction cash flows follow a shifting interest structure
that allows subordinated bonds to receive principal payments under
certain defined scenarios. Because a shifting interest structure
allows subordinated bonds to pay down over time as the loan pool
balance declines, senior bonds are exposed to eroding credit
enhancement over time, and increased performance volatility as a
result. To mitigate this risk, the transaction provides for a
senior subordination floor of 0.60% of the closing pool balance,
and a subordination lock-out amount of 0.60% of the closing pool
balance. The floors are consistent with the credit neutral floors
for the assigned ratings according to its methodology.

Transaction Structure

The transaction is structured as a one pool shifting interest
structure in which the senior bonds benefit from a senior floor and
a subordination floor. Funds collected, including principal, are
first used to make interest payments to the senior bonds. Next
principal payments are made to the senior bonds and then interest
and principal payments are paid to the subordinate bonds in
sequential order, subject to the subordinate class percentage of
the subordinate principal distribution amounts.

Realized losses are allocated in a reverse sequential order, first
to the lowest subordinate bond. After the balances of the
subordinate bonds are written off, losses from the pool begin to
write off the principal balances of the senior support bonds until
their principal balances are reduced to zero. Next realized losses
are allocated to the super senior bonds until their principal
balances are written off.

As in all transactions with shifting-interest structures, the
senior bonds benefit from a cash flow waterfall that allocates all
prepayments to the senior bonds for a specified period of time, and
allocates increasing amounts of prepayments to the subordinate
bonds thereafter only if loan performance satisfies both
delinquency and loss tests.

Factors that would lead to an upgrade or downgrade of the ratings:

Down

Levels of credit protection that are insufficient to protect
investors against current expectations of loss could drive the
ratings down. Losses could rise above Moody's original expectations
as a result of a higher number of obligor defaults or deterioration
in the value of the mortgaged property securing an obligor's
promise of payment. Transaction performance also depends greatly on
the US macro economy and housing market. Other reasons for
worse-than-expected performance include poor servicing, error on
the part of transaction parties, inadequate transaction governance
and fraud.

Up

Levels of credit protection that are higher than necessary to
protect investors against current expectations of loss could drive
the ratings up. Losses could decline from Moody's original
expectations as a result of a lower number of obligor defaults or
appreciation in the value of the mortgaged property securing an
obligor's promise of payment. Transaction performance also depends
greatly on the US macro economy and housing market.

Methodology

The principal methodology used in these ratings was "Moody's
Approach to Rating US RMBS Using the MILAN Framework " published in
October 2019.


RAIT FUNDING: Stevens & Lee Files 1st Update on Equity Holders
--------------------------------------------------------------
In the Chapter 11 cases of RAIT Funding, LLC, the law firm of
Stevens & Lee, P.C. submitted an amended verified statement under
Rule 2019 of the Federal Rules of Bankruptcy Procedure to disclose
an updated list of Ad Hoc Committee members that it is
representing.

On August 30, 2019, the Debtors commenced with the Court voluntary
cases under chapter 11 of the Bankruptcy Code. Since the Petition
Date, the Debtors continue to operate and manage their businesses
as debtors-in-possession.

On November 18, 2019, the Verified Statement of the Ad Hoc
Committee of Holders of Preferred Equity Issued by RAIT Financial
Trust Pursuant to Bankruptcy Rule 2019 was filed with the Court.

As of Nov. 24, 2019, the Ad Hoc Committee members and their
disclosable economic interests are:

(1) Ramat Securities Ltd.
    23811 Chagrin Blvd #200
    Beachwood, OH 44122

    * Class A: 65,700
    * Class B: 43,959
    * Class C: 14,405

(2) Kenneth S. Grossman
    18 Norfolk Rd.
    Great Neck, NY 1102

    * Class A: 527,817
    * Class B: 278,848
    * Class C: 189,471

(3) Charles Frischer
    4404 52nd Avenue NE
    Seattle, WA 98105

    * Class A: 640,707
    * Class B: 125,451
    * Class C: 91,100
    * 4,432 shares of common stock

(4) Lebowitz Family Trust
    Lebowitz Family Stock, LLC
    David L. Lebowitz and
    The Steven and Deborah Lebowitz Foundation
    1333 2nd Street, Suite 650
    Santa Monica, CA 90401

    * Class A: 753,601

(5) 683 Capital Partners, LP
    3 Columbus Circle Suite 2205
    New York, NY 10019

    * Class A: 201,004
    * Class B: 94,145
    * Class C: 30,988
    * 7.625% 2024 Bonds: 61,615

(6) Broadbill Partners II LP
    c/o Broadbill Investment Partners, LLC
    157 Columbus Avenue, 5th FL
    New York, NY 10023

    * Class A: 173,090
    * Class B: 99,235
    * Class C: 34,870

(7) Black Rhino, LP
    c/o Broadbill Investment Partners, LLC
    157 Columbus Avenue, 5th FL
    New York, NY 10023

    * Class A: 21,201
    * Class B: 13,750
    * Class C: 4,044

(8) JKJ Special Situations Fund, LP
    c/o Broadbill Investment Partners, LLC
    157 Columbus Avenue, 5th FL
    New York, NY 10023

    * Class A: 38,530
    * Class B: 24,313
    * Class C: 17,332

(9) Steven Shaw
    2211 Broadway apt 8L
    New York, NY 10024

    * Class A: 82,156
    * Class B: 42,454
    * Class C: 19,400

Nothing contained in this Verified Statement should be construed as
a limitation upon, or waiver of, any Ad Hoc Committee member's
rights to assert, file and/or amend its claim in accordance with
applicable law and any orders entered in these cases establishing
procedures for filing proofs of claim.

The Ad Hoc Committee reserves the right to further amend or
supplement this Verified Statement in accordance with the
requirements set forth in Rule 2019.

Counsel to the Ad Hoc Committee of Holders of Preferred Equity
Issued by RAIT Financial Trust can be reached at:

          Stevens & Lee, P.C.
          Joseph H. Huston, Jr., Esq.
          919 North Market Street, Suite 1300
          Wilmington, DE 19801
          Tel: (302) 425-3310
          Fax: (610) 371-7972
          E-mail: jhh@stevenslee.com

                - and -

          Stevens & Lee, P.C.
          Nicholas F. Kajon, Esq.
          Constantine D. Pourakis, Esq.
          Andreas D. Milliaressis, Esq.
          485 Madison Avenue, 20th Floor
          New York, NY 10022
          Tel: (212) 319-8500
          Fax: (212) 319-8505
          E-mail: nfk@stevenslee.com
                  cp@stevenslee.com
                  adm@stevenslee.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/iEOJte

                    About RAIT Funding

RAIT -- https://www.rait.com/ -- is an internally-managed real
estate investment trust focused on managing a portfolio of
commercial real estate loans and properties.

RAIT Funding, LLC and its affiliates, including RAIT Financial
Trust, sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. D. Del. Lead Case No. 19-11915) on Aug. 30, 2019.  At the
time of the filing, the Debtors were estimated to have assets of
between $100 million and $500 million, and liabilities of the same
range.  

The cases are assigned to Judge Brendan Linehan Shannon.

The Debtors tapped Drinker Biddle & Reath LLP as bankruptcy
counsel; UBS Securities LLC as investment banker; M-III Partners
L.P. as restructuring and financial advisor; Ledgewood PC as tax
counsel; and Epiq Corporate Restructuring, LLC as claims and
noticing agent.


RAIT FUNDING: Stevens & Lee Files 2nd Update on Equity Holders
--------------------------------------------------------------
In the Chapter 11 cases of RAIT Funding, LLC, the law firm of
Stevens & Lee, P.C. submitted a second amended verified statement
under Rule 2019 of the Federal Rules of Bankruptcy Procedure to
disclose an updated list of Ad Hoc Committee members that it is
representing.

On November 18, 2019, the Verified Statement of the Ad Hoc
Committee of Holders of Preferred Equity Issued by RAIT Financial
Trust Pursuant to Bankruptcy Rule 2019 [Docket No. 201] was filed
with the Court.

As of Nov. 25, 2019, the Ad Hoc Committee members and their
disclosable economic interests are:

(1) Howard Amster, Howard Amster IRA
    Amster Limited Partnership
    Horizon Group Properties
    Laughlin Holdings LLC
    nexAx Inc.
    Pleasant Lake Apts Corp
    Pleasant Lakes Apts. Ltd Partnership
    Pleasant Lake – Skoien Investments LLC
    Ramat Securities Ltd., and
    Somerset Outlet Centers L.P.
    23811 Chagrin Blvd #200
    Beachwood, OH 44122

    * Class A: 526,418
    * Class B: 373,589
    * Class C: 234,507

(2) Kenneth S. Grossman
    18 Norfolk Rd.
    Great Neck, NY 1102

    * Class A: 527,817
    * Class B: 278,848
    * Class C: 189,471

(3) Charles Frischer
    4404 52nd Avenue NE
    Seattle, WA 98105

    * Class A: 640,707
    * Class B: 125,451
    * Class C: 91,100
    * 4,432 shares of common stock

(4) Lebowitz Family Trust
    Lebowitz Family Stock, LLC
    David L. Lebowitz and
    The Steven and Deborah Lebowitz Foundation
    1333 2nd Street, Suite 650
    Santa Monica, CA 90401

    * Class A: 753,601

(5) 683 Capital Partners, LP
    3 Columbus Circle Suite 2205
    New York, NY 10019

    * Class A: 201,004
    * Class B: 94,145
    * Class C: 30,988
    * 7.625% 2024 Bonds: 61,615

(6) Broadbill Partners II LP
    c/o Broadbill Investment Partners, LLC
    157 Columbus Avenue, 5th FL
    New York, NY 10023

    * Class A: 173,090
    * Class B: 99,235
    * Class C: 34,870

(7) Black Rhino, LP
    c/o Broadbill Investment Partners, LLC
    157 Columbus Avenue, 5th FL
    New York, NY 10023

    * Class A: 21,201
    * Class B: 13,750
    * Class C: 4,044

(8) JKJ Special Situations Fund, LP
    c/o Broadbill Investment Partners, LLC
    157 Columbus Avenue, 5th FL
    New York, NY 10023

    * Class A: 38,530
    * Class B: 24,313
    * Class C: 17,332

(9) Steven Shaw
    2211 Broadway apt 8L
    New York, NY 10024

    * Class A: 82,156
    * Class B: 42,454
    * Class C: 19,400

Nothing contained in the Verified Statement should be construed as
a limitation upon, or waiver of, any Ad Hoc Committee member's
rights to assert, file and/or amend its claim in accordance with
applicable law and any orders entered in these cases establishing
procedures for filing proofs of claim.

The Ad Hoc Committee reserves the right to further amend or
supplement this Verified Statement in accordance with the
requirements set forth in Rule 2019.

Counsel to the Ad Hoc Committee of Holders of Preferred Equity
Issued by RAIT Financial Trust can be reached at:

          Stevens & Lee, P.C.
          Joseph H. Huston, Jr., Esq.
          919 North Market Street, Suite 1300
          Wilmington, DE 19801
          Tel: (302) 425-3310
          Fax: (610) 371-7972
          E-mail: jhh@stevenslee.com

                - and -

          Stevens & Lee, P.C.
          Nicholas F. Kajon, Esq.
          Constantine D. Pourakis, Esq.
          Andreas D. Milliaressis, Esq.
          485 Madison Avenue, 20th Floor
          New York, NY 10022
          Tel: (212) 319-8500
          Fax: (212) 319-8505
          E-mail: nfk@stevenslee.com
                  cp@stevenslee.com
                  adm@stevenslee.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/qSRITC and https://is.gd/sCIpMk

                    About RAIT Funding

RAIT -- https://www.rait.com/ -- is an internally-managed real
estate investment trust focused on managing a portfolio of
commercial real estate loans and properties.

RAIT Funding, LLC and its affiliates, including RAIT Financial
Trust, sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. D. Del. Lead Case No. 19-11915) on Aug. 30, 2019.  At the
time of the filing, the Debtors were estimated to have assets of
between $100 million and $500 million, and liabilities of the same
range.  

The cases are assigned to Judge Brendan Linehan Shannon.

The Debtors tapped Drinker Biddle & Reath LLP as bankruptcy
counsel; UBS Securities LLC as investment banker; M-III Partners
L.P. as restructuring and financial advisor; Ledgewood PC as tax
counsel; and Epiq Corporate Restructuring, LLC as claims and
noticing agent.


RIVOLI & RIVOLI: Seeks to Use Cash Collateral Thru March 2020
-------------------------------------------------------------
Rivoli & Rivoli Orthodontics, P.C., seeks permission from the
Bankruptcy Court to continue using the cash collateral of the (i)
Internal Revenue Service, (ii) the Lyons National Bank, (iii) the
New York State Department of Taxation and Finance and (iv) Spring
Pines Dental Care, LLP, through March 31, 2020, pursuant to the
cash budget.  

The budget provides for total projected cash payments at $115,427
for the month of Nov. 2019, and $119,892 for the month of December
2019.  A copy of the budget, as contained in the proposed order, is
available at https://is.gd/6Rhxb7 from PacerMonitor.com free of
charge.

As adequate protection, the Debtor proposes to grant the Secured
Creditors rollover replacement liens in the Debtor's post-petition
assets.  The Debtor also proposes to make monthly payments to (i)
the IRS for $11,500 by the 20th of each month; (ii) Lyons Bank for
$2,000 by the 15th of each month; (iii) NYS Tax for $1,000 by the
20th of each month; and (iv) Spring Pines for $2,000 on or before
the 20th of each month.  

Hearing on the motion will continue on Dec. 19, 2019 at 9 a.m.  

The Court has previously authorized the Debtor access to cash
collateral through Nov. 21, 2019.

                About Rivoli & Rivoli Orthodontics

Rivoli & Rivoli Orthodontics, P.C. -- http://www.rivoliortho.com/
-- offers orthodontic services with locations in Spencerport,
Rochester, Webster, and Brockport New York.

Rivoli & Rivoli Orthodontics filed a voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. W.D.N.Y. Case No.
19-20627) on June 21, 2019.  In the petition signed by Peter S.
Rivoli, president, the Debtor estimated $233,492 in assets and
$1,778,831 in liabilities.  Daniel F. Brown, Esq. at Andreozzi
Bluestein LLP is the Debtor's counsel.


RODAN & FIELDS: S&P Cuts ICR to 'CCC+' on Revenue, Profit Decline
-----------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Rodan &
Fields LLC (R+F) to 'CCC+' from 'B' because of the dramatic profit
deterioration over the last year. At the same time, S&P lowered its
issue-level rating on the company's senior secured facility to 'B-'
from 'B+'. The '2' recovery rating is unchanged.

The two-notch downgrade reflects R+F's accelerating revenue
declines, dwindling cash flow, and deteriorating liquidity
position.  The company's sales decline accelerated to over 25% and
EBITDA dropped over 40% during its third quarter ended Sept. 30,
2019, as enrollment trends for new consultants and preferred
customers worsened. In addition, S&P believes average purchase per
customer also declined because new consultants and preferred
customers often make larger purchases when they first sign up.

The negative outlook on R+F reflects the potential that S&P could
lower its rating on the company in the next 12 months if its
performance declines faster than the rating agency's expectations
and its liquidity position deteriorates further, resulting in
reliance on its revolver and a potential covenant compliance
breach. This could occur if R+F cannot slow the rate of revenue
decline because of low new consultant enrollment. Coupled with high
investment needs in its business, this would hinder the company's
efforts to improve operations and generate cash. S&P could also
lower its ratings if it believes R+F is likely to engage in a
distressed exchange to lower its debt burden in the next 12
months.

"We could take a positive rating action if the company stabilizes
its top line and generates $10 million of cash flow, after required
tax distribution, on a sustained basis. We believe this could occur
if its consultant and preferred customer enrollments return to
growth with successful digital platform implementations and new
product innovations, so its consultants can more effectively sell
its products and recruit new customers," S&P said.


RON'S EXCAVATING: Has Continued Cash Access Thru Feb. 2020
----------------------------------------------------------
The Bankruptcy Court authorized Ron's Excavating Inc., to continue
using cash collateral through Feb. 28, 2020.  

In a separate filing, the Court ordered that the next hearing on
the Debtor's cash collateral motion will be held on Feb. 20, 2020
at 10 a.m. at Boston Courtroom 3, 12th Floor, 5 Post Office Square,
Boston, MA.  Objections are due by Feb. 18, 2020.

                     About Ron's Excavating

Ron's Excavating Inc., filed a Chapter 11 bankruptcy petition
(Bankr. D. Mass. Case No. 19-12008) on June 12, 2019, disclosing
under $1 million in both assets and liabilities.  The Debtor is
represented by David B. Madoff, a partner at Madoff & Khoury, LLP.




RONNA'S RUFF: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Ronna's Ruff Bark Trucking, Inc.
        2928 Knight Town Road
        Shippenville, PA 16254

Business Description: Ronna's Ruff Bark Trucking, Inc.
                      is a privately held company in the
                      skidding logs business.

Chapter 11 Petition Date: November 25, 2019

Court: United States Bankruptcy Court
       Western District of Pennsylvania (Erie)

Case No.: 19-11167

Judge: Hon. Thomas P. Agresti

Debtor's Counsel: Michael S. Jan Janin, Esq.
                  QUINN, BUSECK, LEEMHUIS, TOOHEY & KROTO, INC.
                  2222 West Grandview Boulevard
                  Erie, PA 16506-4508
                  Tel: 814-833-2222
                  E-mail: mjanjanin@quinnfirm.com

                    - and -

                  Michael P. Kruszewski, Esq.
                  QUINN, BUSECK, LEEMHUIS, TOOHEY & KROTO, INC.
                  2222 West Grandview Boulevard
                  Erie, PA 16506
                  Tel: 814-833-2222
                  Fax: 814-835-2076
                  E-mail: mkruszewski@quinnfirm.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Erick Merryman, owner.

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/pawb19-11167.pdf


SAFE HARBOR: Seeks $332,500 of Secured Financing from Holding Co.
-----------------------------------------------------------------
Safe Harbor Construction Group Inc., seeks permission from the
Bankruptcy Court to obtain up to $332,500 in secured financing from
SHC Holdings, LLC.

Robert Perotti, the Debtor's president, and Sharon Perotti,
President of SHC Holdings, LLC, in a joint certification filed in
Court, relate that the funds are essential for the Debtor to
continue to operate, meet its ongoing construction obligations and
reorganize the Corporation under this Chapter 11.  Safe Harbor and
SHC Holdings are affiliated companies.  A copy of the Perotti
Certification is available at https://is.gd/FXZYFt  from
PacerMonitor.com at no charge.  The Court filing disclosed that the
Debtor will pledge its liquid assets as security.

Hearing on the request is set for Dec. 5, 2019 at 10 a.m.  A copy
of the Motion is available at https://is.gd/Lgg9ee  still from
PacerMonitor.com free of charge.  

                 About Safe Harbor Construction

Safe Harbor Construction Group Inc. sought Chapter 11 protection
(Bankr. D.N.J. Case No. 19-24968) on Aug. 1, 2019 in Trenton, New
Jersey.  Steven J. Abelson, Esq., at ABELSON & TUESDALE, is the
Debtor's counsel.





SELECT MEDICAL: Moody's Affirms B1 CFR, Outlook Stable
------------------------------------------------------
Moody's Investors Service affirmed the existing ratings of Select
Medical Holdings Corporation, including the B1 Corporate Family
Rating and B1-PD Probability of Default Rating. Moody's also
affirmed the ratings of Select Medical Corporation (a wholly owned
subsidiary of Select Medical Holdings Corporation), including the
Ba2 senior secured rating and B3 unsecured rating. The rating
agency also affirmed the Ba2 rating on Select's newly upsized term
loan. Moody's also assigned a B3 rating to Select's new unsecured
debt. The Speculative Grade Liquidity Rating of SGL-3 was
unchanged. The outlook is stable.

Proceeds from the incremental term loan B issuance and additional
unsecured debt (to be issued at a future date) will be lent to
Concentra via an intercompany note to repay the $1.24 billion
Concentra term loan due 2022. Select currently owns a 50.1% stake
in Concentra and will acquire the remaining stake in the company
over the next three years. Moody's views the current transaction as
leverage neutral at the consolidated Select/Concentra level.
Following the transaction, Concentra will become a non-guarantor
restricted subsidiary of Select. While there will be a significant
increase in debt secured by only the Select assets, Moody's
believes this transaction will improve Select's ability to access
Concentra's cash flows through the intercompany loan. Further, over
time as Select acquires the remaining stake in Concentra, Moody's
believes that the Concentra assets will ultimately guarantee future
debt in the capital structure.

Ratings affirmed:

Select Medical Holdings Corporation

Corporate Family Rating at B1

Probability of Default Rating at B1-PD

Select Medical Corporation

Senior secured revolving credit facility expiring 2024 at Ba2
(LGD2)

Upsized senior secured term loan due 2025 at Ba2 (LGD2)

Senior unsecured notes due 2026 at B3 (LGD5)

Rating assigned:

Select Medical Corporation

New unsecured debt at B3 (LGD5)

The outlook is stable.

RATINGS RATIONALE

The B1 CFR is constrained by Moody's expectation that Select will
operate with moderately high leverage of around 5.0 times over the
next 12-18 months. Deleveraging will be challenged by Select's use
of debt to fund at least part of the acquisition of the remaining
stake in Concentra. The company's critical illness recovery
hospital and rehabilitation hospital segments, which rely
predominantly on the Medicare program as a source of revenue, also
face longer-term reimbursement risks. These two segments
collectively generate roughly 54% of the company's EBITDA.
Supporting the B1 CFR is Select's significant scale, good business
diversity, and leading market positions in each of its business
segments. Further, the company's outpatient rehabilitation and
occupational medicine (Concentra) businesses provide both payor and
geographic diversity, with limited exposure to government payors.
Moody's anticipates that most earnings growth over the next 12-18
months will come from tuck-in acquisitions as well as the
maturation of recently opened rehabilitation hospitals. The rating
is also supported by the company's good free cash flow, though it
can be somewhat lumpy from year to year.

From a governance perspective, Moody's expects a low probability of
shareholder rewards given the company's desire to fund the
acquisition of the remaining stake in Concentra that it does not
already own over the 2020-2022 timeframe. As a for-profit hospital
operator, Select faces social risk but less so than operators in
the general acute care space. The affordability of hospitals and
the practice of balance billing has garnered substantial social and
political attention. Hospitals are now required to publicly provide
greater price transparency into the prices of their services,
although compliance and practice is inconsistent across the
industry. Additionally, hospitals rely on Medicare and Medicaid for
a substantial portion of reimbursement. Any changes to
reimbursement to Medicare or Medicaid directly impacts hospital
revenue and profitability. In addition, the social and political
push for a single payor system would drastically change the
operating environment.

The stable rating outlook reflects Moody's expectation that
Select's financial leverage will remain around 5.0 times over the
next year, and that the Medicare reimbursement environment will be
generally stable.

The SGL-3 reflects Moody's view that Select's liquidity will be
adequate over the next 12-18 months. The company's operating cash
flow will be sufficient to cover basic cash requirements, excluding
the funding of the upcoming requirements (through a put/call
mechanism) to acquire the remainder of Concentra. As such, Moody's
anticipates that Select will rely on its revolver to fund a portion
of these payments, but will maintain good cushion under its
financial covenant.

The ratings could be upgraded if Select can sustain debt/EBITDA
below 4.0 times while maintaining sufficient financial flexibility
and diversification that allow the company to absorb potential
future negative regulatory developments at the higher rating
level.

The ratings could be downgraded if Select experiences adverse
developments in Medicare regulations or reimbursement that result
in deterioration in margins or cash flow coverage metrics. A
downgrade could also occur if the company makes a material
debt-funded acquisition or shareholder initiative, or if
debt/EBITDA is sustained above 5.0 times.

Select Medical Corporation, headquartered in Mechanicsburg, PA,
provides long-term acute care services and inpatient acute
rehabilitative care through its critical illness recovery and
rehabilitation hospital segments. Select also provides physical,
occupational, and speech rehabilitation services through its
outpatient rehabilitation segment. The company also has a majority
interest in a joint venture with Welsh, Carson, Anderson & Stowe
that includes the operations of Concentra Inc. Concentra is a
provider of occupational and consumer healthcare services,
including workers' compensation injury care, physical exams and
drug testing for employers, and wellness and preventative care.
Consolidated revenue is approximately $5.3 billion.

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


SEPCO CORPORATION: Taps Bernstein-Burkley as New Counsel
--------------------------------------------------------
Sepco Corporation, seeks authority from the U.S. Bankruptcy Court
for the Northern District of Ohio to employ Bernstein-Burkley, P.C.
as its new legal counsel

Bernstein-Burkley will substitute for Buckley King LPA, the firm
that initially handled the Debtor's Chapter 11 case.  

Bernstein-Burkley's hourly rates are:

     Harry Greenfield     $485
     Jeffrey Toole        $375

Harry Greenfield, Esq., a member of Bernstein, attests that the
firm is a "disinterested person" within the meaning of Section
101(14) of the Bankruptcy Code.

The firm can be reached through:

     Harry W. Greenfield, Esq.
     Bernstein-Burkley, P.C.
     707 Grant Street
     Suite 2200 Gulf Tower
     Pittsburgh, PA 15219
     Phone: 412-456-8143
     Fax: 412-456-8135
     Email: hgreenfield@bernsteinlaw.com

                  About Sepco Corporation

Aurora, Ohio-based Sepco Corporation filed a Chapter 11 bankruptcy
petition (Bankr. N.D. Ohio. Case No. 16-50058) on Jan. 14, 2016. In
the petition signed by CRO Richard J. Szekelyi, the Debtor was
estimated to have assets and liabilities ranging from $10 million
to $50 million each.

The Company has not been engaged in any active manufacturing or
sales activities since January 1995.  Prior to its bankruptcy
filing, the Debtor has been named as a defendant in a substantial
number of personal injury and wrongful death claims allegedly based
on asbestos-containing products that the Debtor had sold.  The vast
majority of those claims allegedly arose from the Debtor's sale
until approximately 1984 of certain asbestos-containing packing
and
gasket products and its sale until approximately 1992 of certain
asbestos-containing spiral-would or semi-metallic gaskets.

Asbestos PI Claims were first brought against the Debtor beginning
in the late 1970s.  Following the bankruptcies of companies that
had been major suppliers of asbestos and asbestos-containing
products, litigants increasingly pursued claims against
second-and-third-tier suppliers of products that had any asbestos
content, including the Debtor.

As of the Petition Date, the Debtor has approximately 4,816 open
and pending Asbestos PI Claims.  In addition, approximately 32,238
Asbestos PI Claims are technically pending against the Debtor but
are deemed inactive either as a matter of state of law (for lack of
a manifested injury, or otherwise) or because they have been
dormant.

The case is assigned to Judge Alan M. Koschik.  

Bernstein-Burkley, P.C. is the Debtor's counsel.  Kurtzman Carson
Consultants LLC, is the notice, balloting and claims agent.  

Daniel M. McDermott, the United States Trustee for Region 9,
appointed creditors to serve on the committee of asbestos
claimants.  The committee retained Caplin & Drysdale, Chartered as
bankruptcy counsel; Brouse McDowell, A Legal Professional
Association as Ohio co-counsel; and Gilbert LLP as special
counsel.

Lawrence Fitzpatrick, the future claimants' representatives of
Sepco Corporation, retained Young Conaway Stargatt & Taylor, LLP,
as bankruptcy counsel; and Black McCuskey Souers & Arbaugh Co.,
LPA, as Ohio counsel.


SHEET METAL: Has Court OK to Use Cash Collateral Thru Dec. 5
------------------------------------------------------------
Judge Joel T. Marker authorized Sheet Metal Works, Inc., to use the
cash collateral of Bank of West for the period from Nov. 8, 2019 to
Dec. 5, 2019 according to the terms of the budget.  

Bank of West is granted a security interest in postpetition assets
that are of the same types of assets as granted in the Bank's pre-
petition security agreements.  

A copy of the Interim Order is available at https://is.gd/bgxYPt
from PacerMonitor.com free of charge.  

A final hearing on the motion will be held on Dec. 5, 2019 at 2
p.m.  

                    About Sheet Metal Works

Sheet Metal Works Inc. is a ventilating contractor in Salt Lake
City, Utah.  The Company filed a Chapter 11 petition (Bankr. D.
Utah Case No. 19-28320) on November 8, 2019 in Salt Lake City,
Utah.  

As of the time of filing, the Debtor was estimated with assets of
between $1 million and $10 million, and liabilities within the same
range.  Ralph C. Montrone, president, signed the petition.  Judge
Joel T. Marker is assigned the case.  RICHARDS BRANDT MILLER NELSON
is the Debtor's counsel.


SHEET METAL: Seeks Authorization to Use Cash Collateral
-------------------------------------------------------
Sheet Metal Works, Inc., seeks authorization from the U.S.
Bankruptcy Court for the District of Utah to use the cash
collateral of Bank of the West BNP Paribas.

SMW proposes to use cash collateral to pay (1) postpetition
expenses incurred in the ordinary course of its business and (2)
certain prepetition obligations that are critical for the
postpetition continuation of its business.

Bank of the West is the only creditor with an interest in SMW's
cash collateral. SMW's obligations to the Bank arise out of four
open loan transactions.  SMW's obligations are secured by a
perfected security interest in all of SMW's inventory, equipment,
accounts, and all proceeds thereof.

The value of the collateral securing Bank of the West's obligations
exceeds the amount of such obligations by approximately
$582,453.83. This equity cushion adequately protects the Bank's
secured claim as it existed on the filing date, plus any
postpetition interest or reasonable attorney fees that may augment
such secured claim under 11 U.S.C. Section 506(b).

In addition, SMW proposes to grant a replacement lien to Bank of
the West as may be necessary to adequately protect its secured
claim in all types of collateral described in its security
documents that are acquired by SMW postpetition.

Sheet Metal Works Inc., a ventilating contractor in Salt Lake City,
Utah, sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. D. Utah Case No. 19-28320) on Nov. 8, 2019.  The petition
was signed by Ralph C. Montrone, president.  At the time of the
filing, the Debtor was estimated to have $1 million to $10 million
in assets and liabilities.  Judge Joel T. Marker is assigned to the
case.  The Debtor is represented by Adam S. Affleck, Esq., at
RICHARDS BRANDT MILLER NELSON.


STERLING INTERMEDIATE: S&P Alters Outlook to Stable, Affirms B ICR
------------------------------------------------------------------
S&P Global Ratings revised its outlook to stable from negative and
affirmed all its ratings on Sterling Intermediate Corp., including
the 'B' issuer credit rating.

The outlook revision reflects improved credit metrics stemming from
restructuring actions in 2018.   

Following several quarters of customer attrition and operating
underperformance, Sterling initiated a corporate restructuring and
turnaround plan aimed at improving the technology behind its
offerings, revamping its go-to-market strategy, closing the
competitive gap between itself and other leading players, and
stemming customer attrition rates. These efforts, which began in
early 2018, translated into higher customer wins and lower
operating expenses, supporting an improvement in leverage to around
7x as of Sept. 30, 2019, from the high-8x area in fiscal year
2018.

The stable outlook reflects S&P's expectation that Sterling will
maintain revenue and earnings growth momentum over the next 12
months, supported by stable hiring trends within core end markets,
cost rationalization benefits, new business wins, and minimal
customer attrition, such that leverage declines to the low-6x area
by 2019 and to the mid-5x area by 2020.

"We could lower the rating over the next 12 months if leverage
approaches and remains above 7x. In addition, we could lower the
rating if there is no meaningful improvement in FOCF to debt, such
that it's sustained in the low-single-digit percent area. This
would likely occur if customer attrition were to increase and new
business wins were to decline as a result of competitive or labor
market pressures," S&P said, adding that a large debt-funded
acquisition or recapitalization could also strain credit metrics.

"We believe an upgrade over the next 12 months is unlikely, as
operating performance only recently stabilized. We would consider
raising our ratings if the company were to reduce and maintain
leverage below 5x on a sustained basis, though we believe this is
unlikely given its financial sponsor ownership and associated
releveraging risk," S&P said.


TARRANT COUNTY SENIOR: Seeks to Hire Ankura, Appoint CRO
--------------------------------------------------------
Tarrant County Senior Living Center, Inc. seeks approval from the
U.S. Bankruptcy Court for the Northern District of Texas to hire
Ankura Consulting Group, LLC, and appoint Louis Robichaux IV, the
firm's senior managing director, as its chief restructuring
officer.

As CRO, Mr. Robichaux will lead the Debtor's restructuring and
transaction activities; lead its management in informing and
advising the board of directors on transaction options and
recommendations; and serve as the Debtor's designee regarding
engagement with stakeholders such as bondholders and other
creditors.

Meanwhile, Ankura will provide these restructuring and transaction
advisory services in the Debtor's Chapter 11 case:

     (a) assist the Debtor in the implementation of a bankruptcy
plan;

     (b) develop multi-year financial projections and related debt
service capacity models, as needed;

     (c) assist the Debtor in the refinement of its cash management
and cash flow forecasting process, including the monitoring of
actual cash flow versus projections;

     (d) assist the Debtor in its negotiations and communications
with bondholders, secured creditors, customers, suppliers and other
parties;

     (e) assist the management in responding to the information
requests from the Debtor's stakeholders and potential capital
sources;

     (f) assist the Debtor in its financial restructuring process;


     (g) help the Debtor prepare various stakeholder presentations
and financial reports required to support stakeholder negotiations
and coordination;

     (h) review and assess vendor relationships and other executory
contracts; and

     (i) advise the Debtor concerning employee retention issues.

The firm's hourly rates are:

     Senior Managing Directors   $964 - $1,045
     Other Professionals           $350 - $950
     Paraprofessionals             $150 - $250

Ankura received a total of $1,016,984.44, including a $25,000
retainer as payment for its restructuring services.

Ankura is not restricted from working on other engagements.
However, services which are directly adverse to the Debtor will not
be provided by the firm without first notifying the Debtor.

The firm can be reached through:

     Louis E. Robichaux
     Ankura Consulting Group, LLC
     15950 Dallas Parkway, Suite 750
     Dallas, TX 75248
     Direct: +1.214.200.3689
     Mobile: +1.214.924.1575
     Email: louis.robichaux@ankura.com

            About Tarrant County Senior Living Center

Incorporated in 2006, Tarrant County Senior Living Center, Inc.,
doing business as The Stayton at Museum Way --
https://www.thestayton.com/ -- is a not-for-profit corporation that
has built a senior living retirement community in Fort Worth,
Texas.  Stayton operates a continuing care retirement community
that offers its senior residents a continuum of care in a
campus-style setting, providing living accommodations and related
health care and support services to a target market of individuals
aged 62 and older.

Stayton sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. N.D. Tex. Case No. 19-33756) on Nov. 5, 2019.  In the
petition signed by CRO Louis E. Robichaux IV, the Debtor was
estimated to have assets ranging between $100 million and $500
million and liabilities of the same range.

The Hon. Stacey G. Jernigan is the case judge.

The Debtor tapped DLA Piper LLP (US) as bankruptcy counsel; Gilmore
Bell, Esq., as bond counsel; Louis E. Robichaux IV at Ankura
Consulting Group, LLC as chief restructuring officer; and EPIQ
Corporate Restructuring, LLC as claims and solicitation agent.


TAYLOR SMITH: Case Summary & 9 Unsecured Creditors
--------------------------------------------------
Debtor: Taylor Smith Consulting, LLC
        350 Glenborough Drive Suite 125
        Houston, TX 77067

Business Description: Taylor Smith Consulting provides full
                      service staffing, contracting, and
                      management consulting services.

Chapter 11 Petition Date: November 25, 2019

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

Case No.: 19-36553

Judge: Hon. Christopher M. Lopez

Debtor's Counsel: Susan Tran Adams, Esq.
                  CORRAL TRAN SINGH, LLP
                  1010 Lamar, Suite 1160
                  Houston, TX 77002
                  Tel: 832-975-7300
                  Fax: 832-975-7301
                  E-mail: susan.tran@ctsattorneys.com

Estimated Assets: $100,000 to $500,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Tracy T. Smith, manager.

A full-text copy of the petition containing, among other items, a
list of the Debtor's nine unsecured creditors is available for free
at:

        http://bankrupt.com/misc/txsb19-36553.pdf


TECHNIPLAS LLC: Moody's Withdraws Caa1 CFR on Insufficient Info
---------------------------------------------------------------
Moody's Investors Service withdrawn Techniplas, LLC's Caa1
Corporate Family Rating and Caa1-PD probability of default rating.
Concurrently, Moody's has withdrawn the Caa2 instrument rating on
Techniplas senior secured notes. Prior to the withdrawal the
outlook on the ratings was stable.

RATINGS RATIONALE

Moody's has decided to withdraw the ratings because of inadequate
information to monitor the ratings, due to the issuer's decision to
cease participation in the rating process.

This reflects the fact that the rating agency does not have access
to the legal documentation pertaining to the senior secured notes
issued by the company and the plan to refinance Techniplas' senior
secured notes following the strategic investment from Agility
Global Technologies, LLC, a business formed and managed by the
private equity firm The Jordan Company, L.P.. The strategic
investment was announced on 30 October 2019.

Techniplas, LLC, headquartered in Nashotah, Wisconsin USA, is a
privately held producer of technical plastic components for the
automotive, transportation and electrical industry. Techniplas is
specialized in thermoplastic and thermo-set molding and has
expertise in metal-to-plastic conversion, light weighting and tool
design. Techniplas employed about 2,357 employees in its operations
as of December 2018 and generated revenue of $529 million in 2018.


TEEKAY CORP: S&P Cuts Senior Unsecured 8.5% Notes Rating to 'B-'
----------------------------------------------------------------
S&P Global Ratings said it lowered its issue-level rating on Teekay
Corp.'s senior unsecured 8.5% notes to 'B-' from 'B+' and revised
its recovery rating on the notes to '6' from '4'. The '6' recovery
rating reflects S&P's expectation for negligible (0%-10%; rounded
estimate: 0%) recovery in its simulated default scenario.

The company has close to US$40 million outstanding on the 8.50%
senior unsecured notes, which rank junior to the 9.25% senior
secured notes due 2022 (US$250 million). S&P estimates no residual
value will be available to the claims of the unsecured noteholders
in its simulated default scenario and, accordingly, it lowered the
recovery rating to '6'. S&P expects the company to redeem these
notes on maturity, Jan. 15, 2020, and following the redemption, the
rating agency would withdraw the debt rating on the senior
unsecured notes.

S&P's 'B+' issue-level and '3' recovery rating on Teekay's 9.25%
senior secured notes are unchanged. The '3' recovery rating
reflects S&P's expectation for meaningful (50%-70%; rounded
estimate: 60%) recovery in its default scenario.

S&P's 'B+' issuer credit rating on Teekay is also unchanged since
the amount outstanding is modest and does not affect the credit
measures. The stable outlook reflects S&P's view that the company's
credit measures will improve in 2020 from improving tanker and gas
shipping market fundamentals and following completion of the $7
billion capital expenditure program. S&P believes management
remains focused on strengthening the balance sheet and will reduce
leverage through asset sales and free operating cash flows, as
publicly indicated. Accordingly, the rating agency expects credit
measures will remain commensurate within its current rating
threshold.

ISSUE RATINGS – RECOVERY ANALYSIS

Key analytical factors

-- S&P lowered its issue-level rating and revised its recovery
rating on the US$37 million 8.5% senior unsecured notes to 'B-' and
'6', respectively.

-- The 'B+' issue-level rating and '3' recovery rating on Teekay's
senior secured debt are unchanged. However, S&P modestly improved
its rounded estimate recovery percentage on the senior secured debt
to 60% from 55%.

-- In evaluating the recovery prospects associated with the
underlying assets, S&P used a discrete asset value (DAV)
methodology because Teekay relies significantly on vessel financing
in which lenders have security interest over specific vessels.

-- S&P is assuming an annual dilution rate of 5% and a realization
rate of 70% on Teekay's vessel fleet for the daughter companies
relative to current market values based on the fleet
characteristics and a comparison with those of peers.

-- S&P is assuming an annual dilution rate of 5% and a realization
rate of 35% on Teekay's vessel fleet relative to current market
values based on the fleet characteristics.

-- S&P estimates that, for the company to default, EBITDA would
need to decline significantly, representing a material
deterioration from the current state of its business.

Simulated default assumptions

-- Simulated year of default: 2023

Simplified waterfall

-- Net DAV available at Teekay for secured claims (after 7%
administrative costs): US$150 million

-- Senior secured claims: US$260 million

    --Recovery expectations: 50%-70% (rounded estimate: 60%)

-- Pari passu secured deficiency claims and remaining unsecured
claims: US$260 million (including 75% draw expected on the US$150
million credit facility)

    --Recovery expectations: 0%-10% (rounded estimate: 0%)

All debt amounts include six months of prepetition interest.


THERXSERVICES INC: Taps Myers & Wright as Accountant
----------------------------------------------------
TherxServices, Inc. received approval from the U.S. Bankruptcy
Court for the Middle District of Florida to hire Myers & Wright,
P.A. as its accountant.
   
Myers & Wright will provide these services:

     a. prepare and file tax returns and conduct tax research,
including contacting the Internal Revenue Service;

     b. perform normal accounting and other accounting services as
required by the Debtor; and

     c. prepare or assist the Debtor in preparing court-ordered
reports, including the U.S. trustee reports and any documents
necessary for the Debtor's disclosure statement.

Carole Wright, the firm's accountant who will be providing the
services, charges an hourly fee of $150.  The hourly rates for
accounting staff range from $50 to $100.  

The initial retainer fee is $1,000.

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

Myers & Wright can be reached through:

     Carole Wright
     Myers & Wright, P.A.
     110 W. Reynolds St., Suite 110
     Plant City, FL 33563
     Phone: 813-707-8838
     Fax: 813-707-8440

                     About TherxServices Inc.

TherxServices, Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 19-10307) on Oct. 30,
2019.  At the time of the filing, the Debtor disclosed assets of
between $100,001 and $500,000 and liabilities of the same range.
The Debtor tapped Buddy D. Ford, P.A. as its legal counsel.


TREESIDE CHARTER SCHOOL: Seeks Court Approval to Hire Consultant
----------------------------------------------------------------
Treeside Charter School seeks approval from the U.S. Bankruptcy
Court for the District of Utah to hire a consultant in the ordinary
course of its business.

In an application filed in court, the Debtor proposes to employ
Lindy Townsend, an educational consultant, to provide these
services:

     a. assist the Debtor in the preparation and development of its
Waldorf curriculum;

     b. assist the Debtor's teachers in the implementation of the
Waldorf curriculum;  

     c. meet with parents and other key constituents regarding the

Waldorf curriculum and miscellaneous school matters; and

     d. coordinate with and provide information and input
to the Debtor's professionals if necessary.

The Debtor will pay the consultant a monthly salary of $65,000 for
a 10-month period.

Ms. Townsend neither holds nor represents any interest adverse to
the Debtor, according to court filings.

                   About Treeside Charter School

Treeside Charter School sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Utah Case No. 19-28378) on Nov. 12,
2019.  At the time of the filing, the Debtor disclosed assets of
between $1,000,001 and $10 million and liabilities of the same
range.

The case is assigned to Judge R. Kimball Mosier.

The Debtor tapped Cohne Kinghorn, P.C. as its legal counsel, and
Piercy Bowler Taylor & Kern as its accountant and financial
advisor.


TREESIDE CHARTER SCHOOL: Taps Lear & Lear as Special Counsel
------------------------------------------------------------
Treeside Charter School seeks approval from the U.S. Bankruptcy
Court for the District of Utah to hire Lear & Lear, PLLC as its
special counsel.

The firm will represent the Debtor with respect to education law
and human resources issues and in potential renegotiation of its
lease with its landlord.

Erin Preston, Esq., the firm's attorney who will be providing the
services, charges an hourly fee of $200.

Ms. Preston disclosed in court filings that the firm and its
shareholders and associates neither hold nor represent any
interest adverse to the Debtor's estate.

Lear & Lear can be reached through:

     Erin Preston, Esq.
     Lear & Lear, PLLC
     The Downey Mansion
     808 East South Temple
     Salt Lake City, Utah 84102
     Phone: 801-538-5000 / 801-883-8002
     Fax: 801-538-5001
     Email: erin.preston@learlaw.com

                   About Treeside Charter School

Treeside Charter School sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Utah Case No. 19-28378) on Nov. 12,
2019.  At the time of the filing, the Debtor disclosed assets of
between $1,000,001 and $10 million and liabilities of the same
range.

The case is assigned to Judge R. Kimball Mosier.

The Debtor tapped Cohne Kinghorn, P.C. as its legal counsel, and
Piercy Bowler Taylor & Kern as its accountant and financial
advisor.


TRUCKING AND CONTRACTING: Seeks OK to Continue to Employ Counsel
----------------------------------------------------------------
Trucking and Contracting Services, LLC has filed an amended
application seeking approval from the U.S. Bankruptcy Court for the
District of New Mexico to continue to employ Diane Webb, Attorney
at Law, P.C. as its legal counsel.

The court had previously approved the Debtor's employment of the
firm, which took effect on May 31, 2019.

Diane Webb's services include legal advice concerning all aspects
of the Debtor's Chapter 11 case; negotiation with creditors;
representation in adversary proceedings; and the preparation of a
plan of reorganization.

The firm will continue to bill at the hourly rate of $250 for the
services of its attorney, and an hourly rate of $100 for paralegal
services.

The firm can be reached through:

     Diane P. Webb, Esq.  
     Diane Webb, Attorney at Law, P.C.
     8500 Menaul Blvd. NE Ste A-317
     P.O. Box 30456
     Albuquerque, NM 87190-0456
     Tel: 505-243-0600
     Fax: 505-242-7140
     Email: diwebb@swcp.com

              About Trucking and Contracting Services

Trucking and Contracting Services, LLC, is a privately held company
that primarily operates in the local trucking business.  Trucking
and Contracting Services sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D.N.M. Case No. 19-11319) on May 31, 2019.
In the petition signed by its member and manager, Melissa Acosta,
the Debtor was estimated to have assets of less than $50,000 and
debts of less than $10 million.  Judge Robert H. Jacobvitz is
assigned to the case.  The Debtor is represented by P. Diane Webb,
Esq., at Diane Webb Attorney At Law, P.C.


US GC INVESTMENT: Taps Peter C. Bronstein as Special Counsel
------------------------------------------------------------
US GC Investment, L.P. seeks approval from the U.S. Bankruptcy
Court for the Central District of California to hire the Law
Offices Of Peter C. Bronstein as its special litigation counsel.

The firm will assist the Debtor in filing a lawsuit against Fu &
Sons Investment Capital, LLC and Frank Fu.

The firm's hourly rates are:

     Peter Bronstein, Esq.    $400
     Associates        $275 - $325
     Paralegals                $85
     Law Clerks                $55

The retainer fee is $15,000.

Peter Bronstein, Esq., disclosed in court filings that he does not
have any prior connection with the Debtor.

The firm can be reached through:

     Peter C. Bronstein, Esq.
     Law Offices Of Peter C. Bronstein
     1999 Avenue of the Stars, 11th Floor
     Los Angeles, CA 90067-6001
     Telephone: (310) 935-1128
     Mobile: (310) 729-4578
     Email: PeterBronz@yahoo.com

                    About US GC Investment L.P.

US GC Investment, L.P., owns a building which it constructed for
the operation of Golden Corral Restaurant.  The 11,548-square-foot
building is located on the land owned by the landlord, Fu & Sons
Investment LLC. The property has a liquidation value of $1.8
million.

US GC Investment sought for protection under Chapter 11 of the
Bankruptcy Code (Bankr. C.D. Cal. Case No. 18-23436) on Nov. 15,
2018.  At the time of the filing, the Debtor disclosed $1,880,390
in assets and $3,964,666 in liabilities.  The case has been
assigned to Judge Vincent P. Zurzolo.  The Debtor is represented by
the Law Offices of Michael Jay Berger.


US SHIPPING: S&P Affirms 'B-' Issuer Credit Rating; Outlook Neg.
----------------------------------------------------------------
S&P Global Ratings affirmed its 'B-' issuer credit rating on U.S.
Shipping Corp. based on what it assesses as an adequate liquidity
position. The outlook remains negative.

At the same time, S&P affirmed its 'B' issue-level rating on the
company's $10 million revolving credit facility and $220 million
first-lien term loan.

The ratings affirmation reflects S&P's view of currently adequate
liquidity, despite debt maturities over the next two years.

S&P believes the company's liquidity position over the next year is
adequate, bolstered by cash balances, over $50 million as of June
30, 2019, as well as positive free operating cash flow (FOCF). It
expects that over the next year capital expenditures and any
working capital outflows should be manageable. In addition, the
company does not face quarterly amortization payments on its term
loan, following significant prepayments over the last few years.
Although S&P does not assume any revolver borrowings over the next
year, it notes U.S. Shipping's undrawn $10 million revolving credit
facility matures in June 2020 and the $181.2 million outstanding
balance on its term loan in June 2021.

The negative outlook reflects S&P's view that, although end-market
conditions will likely improve, the rating agency could lower its
ratings within the next 12 months if earnings are weaker than
expected and credit measures deteriorate, liquidity weakens, or the
company is unable to refinance in a timely manner.

"We could lower our rating in the next 12 months if we believe that
U.S. Shipping depends upon favorable business, financial, and
economic conditions to meet its financial commitments, or if we
view the company's financial obligations as unsustainable long
term, even though it may not face a credit or payment crisis within
the next 12 months," S&P said.

"Conversely, we could revise the outlook to stable over the next 12
months if credit measures improve, with debt leverage trending
downward toward 5x. This could occur if, for example, the company
renews contracts at favorable rates or if end-market conditions
improve and spot rates increase," the rating agency said, adding
that it would expect the company to refinance debt maturities in a
timely manner.


Z & J LLC: Seeks to Hire Mazzola Lindstrom as Special Counsel
-------------------------------------------------------------
Z & J, LLC seeks approval from the U.S. Bankruptcy Court for the
Southern District of New York to hire Mazzola Lindstrom LLP as its
special counsel.
   
The firm will represent the Debtor in a state court action titled Z
& J, LLC d/b/a Appeal Tech v. Laurence Mynes, Counsel Press, Inc.,
et. al., filed in the New York Supreme Court.  The Debtor has
alleged unfair business practices against various parties.

Mazzola's fees for its services will be one-third "contingency
fee," plus expenses.

Jean-Claude Mazzola, Esq., at Mazzola Lindstrom, disclosed in court
filings that the firm neither holds nor represents any interest
adverse to the Debtor and its bankruptcy estate.

The firm can be reached through:

     Jean-Claude Mazzola, Esq.
     Mazzola Lindstrom LLP
     733 Third Avenue
     New York, NY 10017
     Direct: (646) 216-8585 / (646) 216-8300
     Mobile: (646) 250-6666
     Email: jeanclaude@mazzolalindstrom.com
       info@mazzolalindstrom.com

                         About Z & J, LLC

Z & J, LLC d/b/a Appeal Tech is an appellate service provider based
in New York.  It was founded in 1998 and works with law firms,
government agencies, companies and nonprofit organizations to
perfect appeals in the State Appellate Courts, the Federal Circuit
Courts of Appeals, and the United States Supreme Court.

Z & J sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. S.D. N.Y. Case No. 19-11502) on May 9, 2019.  At the time
of the filing, the Debtor disclosed $1,523,690 in assets and
$1,083,211 in liabilities.  

The case is assigned to Judge James L. Garrity Jr.  The Debtor
tapped Daniel Scott Alter, Esq., as its bankruptcy attorney.


[^] BOOK REVIEW: The Sorcerer's Apprentice - Medical Miracles
-------------------------------------------------------------
Author:     Sallie Tisdale
Publisher:  BeardBooks
Softcover:  270 pages
List Price: $34.95

Order your own personal copy at http://is.gd/9SAfJR

An earlier edition of "The Sorcerer's Apprentice" won an American
Health Book Award in 1986. The book has been recognized as an
outstanding book on popular science. Tisdale brings to her subject
of the wide nd engrossing field of health and illness the
perspective, as well as the special sympathies and sensitivities,
of a registered nurse. She is an exceptionally skilled writer.
Again and again, her descriptions of ill individuals and images of
illnesses such as cancer and meningitis make a lasting impression.
Tisdale accomplishes the tricky business of bringing the reader to
an understanding of what persons experience when they are ill; and
in doing this, to understand more about the nature of illness as
well. Her style and aim as a writer are like that of a medical or
science journalist for leading major newspaper, say the "New York
Times" or "Los Angeles Times." To this informative, readable style
is added the probing interest and concern of the philosopher trying
to shed some light on one of the central and most unsettling
aspects of human existence. In this insightful, illuminating,
probing exploration of the mystery of illness, Tisdale also
outlines the limits of the effectiveness of treatments and cures,
even with modern medicine's store of technology and drugs. These
are often called "miracles" of modern medicine. But from this
author's perspective, with the most serious, life-threatening,
illnesses, doctors and other health-care professionals are like
sorcerer's trying to work magic on them. They hope to bring
improvement, but can never be sure what they do will bring it
about. Tisdale's intent is not to debunk modern medicine, belittle
its resources and ways, or suggest that the medical profession
holds out false hopes. Her intent is do report on the mystery of
serious illness as she has witnessed it and from this, imagined
what it is like in her varied work as a registered nurse. She also
writes from her own experiences in being chronically ill when she
was younger and the pain and surgery going with this.

She writes, "I want to get at the reasons for the strange state of
amnesia we in the health professions find ourselves in. I want to
find clues to my weird experiences, try to sense the nature of
being sick." The amnesia of health professionals is their state of
mind from the demands placed on them all the time by patients,
employers, and society, as well as themselves, to cure illness, to
save lives, to make sick people feel better. Doctors, surgeons,
nurses, and other health-care professionals become primarily
technicians applying the wonders of modern medicine. Because of the
volume of patients, they do not get to spend much time with any one
or a few of them. It's all they can do to apply the prescribed
treatment, apply more of it if it doesn't work the first time, and
try something else if this treatment doesn't seem to be effective.
Added to this is keeping up with the new medical studies and
treatments. But Tisdale stepped out of this problem-solving
outlook, can-do, perfectionist mentality by opting to spend most of
her time in nursing homes, where she would be among old persons she
would see regularly, away from the high-charged atmosphere of a
hospital with its "many medical students, technicians,
administrators, and insurance review artists." To stay on her
"medical toes," she balanced this with working occasional shifts in
a nearby hospital. In her hospital work, she worked in a neonatal
intensive care unit (NICU), intensive care unit (ICU), a burn
center, and in a surgery room. From this combination of work with
the infirm, ill, and the latest medical technology and procedures
among highly-skilled professionals, Tisdale learned that "being
sick is the strangest of states." This is not the lesson nearly all
other health-care workers come away with. For them, sick persons
are like something that has to be "fixed." They're focused on the
practical, physical matter of treating a malady. Unlike this
author, they're not focused consciously on the nature of pain and
what the patient is experiencing. The pragmatic, results-oriented
medical profession is focused on the effects of treatment. Tisdale
brings into the picture of health care and seriously-ill patients
all of what the medical profession in its amnesia, as she called
it, overlooks.

Simply in describing what she observes, Tisdale leads those in the
medical profession as well as other interested readers to see what
they normally overlook, what they normally do not see in the
business and pressures of their work. She describes the beginning
of a hip-replacement operation, the surgeon "takes the scalpel and
cuts -- the top of the hip to a third of the way down the thigh --
and cuts again through the globular yellow fat, and deeper. The
resident follows with a cautery, holding tiny spraying blood
vessels and burning them shut with an electric current. One small,
throbbing arteriole escapes, and his glasses and cheek are
splattered." One learns more about what is actually going on in an
operation from this and following passages than from seeing one of
those glimpses of operations commonly shown on TV. The author
explains the illness of meningitis, "The brain becomes swollen with
blood and tissue fluid, its entire surface layered with pus...The
pressure in the skull increases until the winding convolutions of
the brain are flattened out...The spreading infection and pressure
from the growing turbulent ocean sitting on top of the brain cause
permanent weakness and paralysis, blindness, deafness...." This
dramatic depiction of meningitis brings together medical facts,
symptoms, and effects on the patient. Tisdale does this repeatedly
to present illness and the persons whose lives revolve around it
from patients and relatives to doctors and nurses in a light
readers could never imagine, even those who are immersed in this
world.

Tisdale's main point is that the miracles of modern medicine do not
unquestionably end the miseries of illness, or even unquestionably
alleviate them. As much as they bring some relief to ill
individuals and sometimes cure illness, in many cases they bring on
other kinds of pains and sorrows. Tisdale reminds readers that the
mystery of illness does, and always will, elude the miracle of
medical technology, drugs, and practices. Part of the mystery of
the paradoxes of treatment and the elusiveness of restored health
for ill persons she focuses on is "simply the mystery of illness.
Erosion, obviously, is natural. Our bodies are essentially
entropic." This is what many persons, both among the public and
medical professionals, tend to forget. "The Sorcerer's Apprentice"
serves as a reminder that the faith and hope placed in modern
medicine need to be balanced with an awareness of the mystery of
illness which will always be a part of human life.


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
the e-mail address to which your TCR is delivered to login.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
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Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
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Copyright 2019.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
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                   *** End of Transmission ***