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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

                      A S I A   P A C I F I C

            Tuesday, May 8, 2018, Vol. 21, No. 090

                            Headlines


A U S T R A L I A

5STAR PROPERTIES: Second Creditors' Meeting Set for May 14
CELLAR MANAGEMENT: Second Creditors' Meeting Set for May 15
DIBBSBARKER CHAMBERS: Second Creditors' Meeting Set for May 14
QUEEN OF SOLE: First Creditors' Meeting Set for May 16
SMEG ENTERPRISES: First Creditors' Meeting Set for May 15

WIZDOM CORPORATION: Second Creditors' Meeting Set for May 14


I N D I A

AADITYA FINECHEM: Ind-Ra Maintains BB+ Rating in Non-Cooperating
ADITYA AGRO: CRISIL Withdraws B+ Rating on INR9MM Cash Loan
AMARTEX INDUSTRIES: CRISIL Moves D Rating on INR65MM Cash Loan
ATUL GENERATORS: Ind-Ra Migrates 'B+' Rating to Non-Cooperating
BATRA RICE: CRISIL Withdraws B+ Rating on INR30MM Cash Loan

BEENA METALS: CRISIL Withdraws B Rating on INR2.9MM Loan
BINANI CEMENT: NCLAT Refuses to Stay NCLT Order on UltraTech Bid
C. K. VELU: CRISIL Migrates B+ Rating to Not Cooperating Category
CAPITAL AGRO: CRISIL Withdraws B Rating on INR7MM Cash Loan
CHOWDHRY RUBBER: Ind-Ra Migrates 'B+' Rating to Non-Cooperating

CONTEC SYNDICATE: Ind-Ra Lowers Long Term Issuer Rating to 'D'
DCDC HEALTH: Ind-Ra Migrates 'BB-' LT Rating to Non-Cooperating
DEEPAK AGRAWAL: Ind-Ra Migrates 'D' LT Rating to Non-Cooperating
GOLD SPIN: CRISIL Withdraws B+ Rating on INR7.15MM Cash Loan
HALDIA NIRMAN: Ind-Ra Migrates 'BB-' Rating to Non-Cooperating

HARMAN COTTEX: Ind-Ra Migrates 'BB-' LT Rating to Non-Cooperating
HINDUSTAN CONSTRUCTION: Unit Defaults on Bonds, Bank Loans
HMTC ENGINEERING: CRISIL Assigns B+ Rating to INR8MM Cash Loan
JOSEPH RUBBERS: CRISIL Withdraws B+ Rating on INR8MM Cash Loan
LALCHAND GEM: Ind-Ra Affirms 'BB+' Issuer Rating, Outlook Stable

LALCHAND JEWELLERS: Ind-Ra Affirms BB+ LT Rating, Outlook Stable
M S GOLD: CRISIL Assigns 'B' Rating to INR5MM Cash Loan
MAHALAXMI COTTON: CRISIL Moves B+ Rating to Not Cooperating Cat.
MAXWELL: CRISIL Reaffirms B- Rating on INR4.5MM Cash Loan
MEGHALAYA CAST: Ind-Ra Assigns BB Issuer Rating, Outlook Stable

MM AUTO: CRISIL Assigns B Rating to INR10.5MM Cash Loan
MOUNT ZION: CRISIL Lowers Rating on INR14.61MM LT Loan to D
NAGOORAR ENTERPRISES: CRISIL Moves B+ Rating to Not Cooperating
NEELKANTH STEEL: Ind-Ra Assigns BB- Issuer Rating, Outlook Stable
OMEGA MARKETING: Ind-Ra Migrates 'BB+' Rating to Non-Cooperating

Q-7 CERAMIC: CRISIL Assigns B Rating to INR8MM Proposed Loan
RAHIS COLD: CRISIL Reaffirms B Rating on INR7.5MM Cash Loan
RAVICHAND FOOD: CRISIL Hikes Rating on INR4MM Cash Loan to B+
RAYON REALTY: CRISIL Withdraws B+ Rating on INR8MM Term Loan
RICE EXPORTS: Ind-Ra Maintains B Issuer Rating in Non-Cooperating

RISHAB INTERNATIONAL: CRISIL Withdraws B Rating on INR7MM Loan
SAHYADRI RENEWABLE: Ind-Ra Migrates 'D' Rating to Non-Cooperating
SAVITON LIVING: Ind-Ra Migrates 'B' LT Rating to Non-Cooperating
SAVITON METPLAST: Ind-Ra Migrates 'B+' Rating to Non-Cooperating
SHANTI SHEET: CRISIL Moves B Rating to Not Cooperating Category

SHIV SHAKTI: CRISIL Moves D Rating to Not Cooperating Category
SHIV SHANKAR: CRISIL Migrates B+ Rating to Not Cooperating Cat.
SKYHIGH HOSPITALITY: CRISIL Lowers Rating on INR10MM Loan to D
SUPREME VASAI: Ind-Ra Migrates 'D' LT Rating to Non-Cooperating
TOLAR OCEAN: CRISIL Withdraws B+ Rating on INR2MM Cash Loan

VISMIT INFRA: Ind-Ra Retains B+ Issuer Rating in Non-Cooperating
YASIN IMPEX: CRISIL Migrates B+ Rating to Not Cooperating Cat.


M A L A Y S I A

ALAM MARITIM: Auditors Raise Going Concern Doubt


N E W  Z E A L A N D

MANAWATU TV: Placed Into Liquidation After 51 Years in Business


P H I L I P P I N E S

GSIS FAMILY: Deposit Insurance Claims Deadline Set May 13
RURAL BANK OF INITAO: MB Orders Bank's Liquidation


S I N G A P O R E

MIDAS HOLDINGS: Cannot Operate as Going Concern, Board Says


S O U T H  K O R E A

GM KOREA: GM to Provide Loans, State-Run Bank to Receive Shares
SAMSUNG BIOLOGICS: Review on Accounting Fraud to Start on May 17


X X X X X X X X

* BOND PRICING: For the Week April 30 to May 4, 2018


                            - - - - -


=================
A U S T R A L I A
=================


5STAR PROPERTIES: Second Creditors' Meeting Set for May 14
----------------------------------------------------------
A second meeting of creditors in the proceedings of 5Star
Properties Pty. Limited has been set for May 14, 2018 at 9:30
a.m. at The Wilarra Room, The Grace Hotel, 77 York Street, in
Sydney, NSW.

The purpose of the meeting is (1) to receive the report by the
Administrator about the business, property, affairs and financial
circumstances of the Company; and (2) for the creditors of the
Company to resolve whether the Company will execute a deed of
company arrangement, the administration should end, or the
Company be wound up.

Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by May 11, 2018, at 5:00 p.m.

David Allan Ingram and Richard Albarran of Hall Chadwick were
appointed as administrators of 5Star Properties on Dec. 7, 2017.


CELLAR MANAGEMENT: Second Creditors' Meeting Set for May 15
-----------------------------------------------------------
A second meeting of creditors in the proceedings of Cellar
Management Services Pty Ltd has been set for May 15, 2018, at
11:30 a.m. at the offices of BPS Recovery, Level 18, 201 Kent
Street, in Sydney, NSW.

The purpose of the meeting is (1) to receive the report by the
Administrator about the business, property, affairs and financial
circumstances of the Company; and (2) for the creditors of the
Company to resolve whether the Company will execute a deed of
company arrangement, the administration should end, or the
Company be wound up.

Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by May 14, 2018, at 4:00 p.m.

Daniel John Frisken and Mitchell Warren Ball of BPS Recovery were
appointed as administrators of Cellar Management on April 23,
2018.


DIBBSBARKER CHAMBERS: Second Creditors' Meeting Set for May 14
--------------------------------------------------------------
A second meeting of creditors in the proceedings of DibbsBarker
Chambers Pty Ltd has been set for May 14, 2018, at 11:00 a.m. at
the offices of David Clout & Associates, Level 3/26 Wharf,
Street, in Brisbane, Queensland.

The purpose of the meeting is (1) to receive the report by the
Administrator about the business, property, affairs and financial
circumstances of the Company; and (2) for the creditors of the
Company to resolve whether the Company will execute a deed of
company arrangement, the administration should end, or the
Company be wound up.

Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by May 11, 2018, at 4:00 p.m.

David Lewis Clout and Patricia Talty of David Clout & Associates
were appointed as administrators of DibbsBarker Chambers on
March 27, 2018.


QUEEN OF SOLE: First Creditors' Meeting Set for May 16
------------------------------------------------------
A first meeting of the creditors in the proceedings of Queen of
Sole Pty Ltd will be held at the offices of PKF, 755 Hunter
Street, in Newcastle, West NSW, on May 16, 2018, at 3:00 p.m.

Simon Thorn of PKF was appointed as administrator of Queen of
Sole on May 4, 2018.


SMEG ENTERPRISES: First Creditors' Meeting Set for May 15
---------------------------------------------------------
A first meeting of the creditors in the proceedings of SMEG
Enterprises Pty Ltd will be held at the offices of Mackay Goodwin
Level 2, 10 Bridge Street, in Sydney, NSW, on May 15, 2018, at
11:30 a.m.

Grahame Robert Ward of Mackay Goodwin was appointed as
administrator of SMEG Enterprises on May 3, 2018.


WIZDOM CORPORATION: Second Creditors' Meeting Set for May 14
------------------------------------------------------------
A second meeting of creditors in the proceedings of Wizdom
Corporation Pty Ltd, formerly trading as Living Vogue, has been
set for May 14, 2018, at 10:30 a.m. at the offices of Clifton
Hall, Level 3, 431 King William Street, in Adelaide, SA.

The purpose of the meeting is (1) to receive the report by the
Administrator about the business, property, affairs and financial
circumstances of the Company; and (2) for the creditors of the
Company to resolve whether the Company will execute a deed of
company arrangement, the administration should end, or the
Company be wound up.

Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by May 11, 2018, at 4:00 p.m.

Timothy James Clifton and Daniel Lopresti of Clifton Hall were
appointed as administrators of Wizdom Corporation on March 28,
2018.


=========
I N D I A
=========


AADITYA FINECHEM: Ind-Ra Maintains BB+ Rating in Non-Cooperating
----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has maintained Aaditya
Finechem Private Limited's Long-Term Issuer Rating in the non-
cooperating category. The issuer did not participate in the
rating exercise, despite continuous requests and follow-ups by
the agency. Therefore, investors and other users are advised to
take appropriate caution while using these ratings. The rating
will continue to appear as 'IND BB+ (ISSUER NOT COOPERATING)' on
the agency's website.

The instrument-wise rating actions are:

-- INR20 mil. Fund-based working capital limit maintained at
    non-cooperating category with IND BB+ (ISSUER NOT
    COOPERATING)/IND A4+ (ISSUER NOT COOPERATING) rating; and

-- INR40 mil. Non-fund-based working capital loan maintained at
     non-cooperating category with IND A4+ (ISSUER NOT
     COOPERATING) rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
February 8, 2016. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.

COMPANY PROFILE

Aaditya Finechem trades detergent chemicals which are used for
industrial purposes.


ADITYA AGRO: CRISIL Withdraws B+ Rating on INR9MM Cash Loan
-----------------------------------------------------------
CRISIL has been consistently following up with Aditya Agro
Industry (AAI) for obtaining information through letters and
emails dated January 22, 2018, March 31, 2018, April 11, 2018 and
April 16, 2018 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

                     Amount
   Facilities       (INR Mln)    Ratings
   ----------       ---------    -------
   Cash Credit           9       CRISIL B+/Stable (Issuer Not
                                 Cooperating; Migrated from
                                 'CRISIL B+/Stable'; Rating
                                 Withdrawn)

The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING'. These ratings lack a
forward looking component as it is arrived at without any
management interaction and is based on best available or limited
or dated information on the company.

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of AAI. This restricts CRISIL's
ability to take a forward looking view on the credit quality of
the entity. CRISIL believes that the information available for
AAI is consistent with 'Scenario 1' outlined in the 'Framework
for Assessing Consistency of Information with CRISIL BB' rating
category or lower. Based on the last available information,
CRISIL has migrated the rating on the bank facility of AAI to
'CRISIL B+/Stable' Issuer not cooperating' from 'CRISIL
B+/Stable'.

CRISIL has withdrawn its rating on the bank facility of AAI on
the request of the company and after receiving no objection
certificate from the bank. The rating action is in-line with
CRISIL's policy on withdrawal of its rating on bank loan
facility.

AAI was set up as a partnership firm in 1997 by Mr. Sushil Mittal
and his family. Mr. Sushil Mittal, Mr. Divakar Mittal and Mrs.
Urmila are the partners in the firm. AAI is engaged in the
ginning of cotton. Its manufacturing unit is located at Sirsa,
with a capacity of around 400 cotton bales daily.


AMARTEX INDUSTRIES: CRISIL Moves D Rating on INR65MM Cash Loan
--------------------------------------------------------------
CRISIL has been consistently following up with Amartex Industries
Limited (AIL) for obtaining information through letters and
emails dated March 28, 2018, April 11, 2018 and April 16, 2018
among others, apart from telephonic communication. However, the
issuer has remained non cooperative.

                   Amount
   Facilities     (INR Mln)    Ratings
   ----------     ---------    -------
   Cash Credit        65       CRISIL D (Issuer Not Cooperating;
                               Rating Migrated)

   Letter of Credit   15       CRISIL D (Issuer Not Cooperating;
                               Rating Migrated)

   Overdraft          10       CRISIL D (Issuer Not Cooperating;
                               Rating Migrated)

   Term Loan          10       CRISIL D (Issuer Not Cooperating;
                               Rating Migrated)

The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING'. These ratings lack a
forward looking component as it is arrived at without any
management interaction and is based on best available or limited
or dated information on the company.

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of Amartex Industries Limited.
Which restricts CRISIL's ability to take a forward looking view
on the entity's credit quality. CRISIL believes information
available on Amartex Industries Limited is consistent with
'Scenario 1' outlined in the 'Framework for Assessing Consistency
of Information with CRISIL BB' rating category or lower'.

Therefore, on account of inadequate information and lack of
management cooperation, CRISIL has migrated the ratings on bank
facilities of Amartex Industries Limited to 'CRISIL D/CRISIL D
Issuer not cooperating'.

Furthermore, the company has not paid the fee for conducting
rating surveillance as agreed to in the rating agreement.

AIL, incorporated in 1988 and managed by Mr Arun Grover,
undertakes retailing, and weaving and dyeing, of fabrics. It has
40 stores across northern India. It derives most of its revenue
from suiting and shirting fabrics, which are sold under its own
brands Groviano (for men's apparel) and Diana (for women's
apparel).


ATUL GENERATORS: Ind-Ra Migrates 'B+' Rating to Non-Cooperating
---------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Atul Generators
Private Limited's (AGPL) Long-Term Issuer Rating to the non-
cooperating category. The issuer did not participate in the
rating exercise despite continuous requests and follow-ups by the
agency. Therefore, investors and other users are advised to take
appropriate caution while using the rating. The rating will now
appear as 'IND B+ (ISSUER NOT COOPERATING)' on the agency's
website.

The instrument-wise rating actions are:

-- INR65 mil. Fund-based working capital limit migrated to Non-
     Cooperating Category with IND B+ (ISSUER NOT COOPERATING)
    /IND A4 (ISSUER NOT COOPERATING) rating;

-- INR11.18 mil. Non-fund-based working capital limit migrated
    to Non-Cooperating Category with IND A4 (ISSUER NOT
    COOPERATING) rating; and

-- INR18.82 mil. Term loan due on December 2022 migrated to Non-
     Cooperating Category with IND B+ (ISSUER NOT COOPERATING)
     rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
April 28, 2017. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.

COMPANY PROFILE

Incorporated on June 8, 1987, AGPL manufactures diesel engine,
diesel generating sets and pumping sets used for agricultural,
industrial and residential purposes. The company has a
manufacturing facility in Nunhai (Agra). Mr. Ram Saran Mittal is
the promoter.


BATRA RICE: CRISIL Withdraws B+ Rating on INR30MM Cash Loan
-----------------------------------------------------------
CRISIL has been consistently following up with Batra Rice Mills
(BRM) for obtaining information through letters and emails dated
April 10, 2018 and April 16, 2018 among others, apart from
telephonic communication. However, the issuer has remained non
cooperative.

                     Amount
   Facilities       (INR Mln)     Ratings
   ----------       ---------     -------
   Cash Credit          30        CRISIL B+/Stable (Issuer Not
                                  Cooperating; Migrated from
                                  'CRISIL B+/Stable'; Rating
                                  Withdrawn)

The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING'. These ratings lack a
forward looking component as it is arrived at without any
management interaction and is based on best available or limited
or dated information on the company.

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of BRM. This restricts CRISIL's
ability to take a forward looking view on the credit quality of
the entity. CRISIL believes that the information available for
BRM is consistent with 'Scenario 2' outlined in the 'Framework
for Assessing Consistency of Information with CRISIL BBB' rating
category or lower. Based on the last available information,
CRISIL has migrated the rating on the bank facility of BRM to
'CRISIL B+/Stable' Issuer not cooperating' from 'CRISIL
B+/Stable'.

CRISIL has withdrawn its rating on the bank facilities of BRM on
the request of the company and after receiving no objection
certificate from the bank. The rating action is in-line with
CRISIL's policy on withdrawal of its rating on bank loan
facilities.

BRM was established in 1969 as a partnership firm by Mr Jagannath
Batra and Mr Mohinder Mohan Batra. The firm mills and shells rice
at its plant in Karnal, Haryana.


BEENA METALS: CRISIL Withdraws B Rating on INR2.9MM Loan
--------------------------------------------------------
CRISIL has been consistently following up with Beena Metals (BM)
for obtaining information through letters and emails dated
November 21, 2016, and December 22, 2016, among others, apart
from telephonic communication. However, the issuer has remained
non cooperative.

                     Amount
   Facilities       (INR Mln)     Ratings
   ----------       ---------     -------
   Overdraft            2.1       CRISIL B/Stable (Issuer Not
                                  Cooperating; Rating Withdrawn)

   Proposed Working     2.9       CRISIL B/Stable (Issuer Not
   Capital Facility               Cooperating; Rating Withdrawn)

'The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING'. These ratings lack a
forward looking component as they are arrived at without any
management interaction and are based on best available or limited
or dated information on the company.

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of BM. This restricts CRISIL's
ability to take a forward BM is consistent with 'Scenario 1'
outlined in the 'Framework for Assessing Consistency of
Information with CRISIL B rating category or lower. Based on the
last available information, the rating on bank facilities of BM
continues to be 'CRISIL B/Stable Issuer Not Cooperating'.

CRISIL has withdrawn its ratings on the bank facilities of BM on
the request of the company and receipt of a no objection / due
certificate from its bank. The rating action is in line with
CRISIL's policy on withdrawal of its ratings on bank loans.

The Beena group, based in Kerala, consists of two entities ' BM
and BS, which undertake retail and wholesale trading of hardware
products respectively. The group's operations are managed by Mr.
Binu Krishna Pillai and Mr. Biju Krishna Pillai.


BINANI CEMENT: NCLAT Refuses to Stay NCLT Order on UltraTech Bid
----------------------------------------------------------------
The Hindu Business Line reports that the National Company Law
Appellate Tribunal (NCLAT) has declined to stay an order passed
by the National Company Law Tribunal (NCLT) allowing the lenders
of Binani Cement to consider the offer made by Aditya Birla
Group's UltraTech Cement.

The NCLT decision had been challenged by Dalmia Bharat, the
report says. The appellate tribunal will further hear the case on
May 22.

According to the report, the NCLT on May 2 had asked the
Committee of Creditors (CoC) of Binani Cement to consider the
revised offer from UltraTech Cement Ltd. The tribunal, however,
allowed Dalmia Bharat to match UltraTech's revised offer, if it
so chooses.

The Dalmia Bharat-controlled Rajputana Properties Pvt Ltd (RPPL)
was the highest bidder for Binani Cement, the report notes.

But UltraTech subsequently offered to increase its bid. The
proposal was rejected by the CoC on the grounds that the higher
bid was placed by Ultratech after the deadline had passed.
However, the Kolkata Bench of the NCLT directed the CoC to
reconsider the resolution plan by Ultratech, the Hindu
BusinessLine says.

The report says UltraTech's first bid for Binani Cement under the
Insolvency and Bankruptcy Code (IBC) was lower than Dalmia's
offer. The CoC therefore began negotiations with the H1 bidder,
Dalmia's RPPL.

However, UltraTech sought to revise its offer for Binani Cement,
which was disallowed by the CoC.

Thereafter, in a parallel deal, UltraTech signed an agreement
with Binani Industries - the parent company of Binani Cement - to
buy its cement assets for INR7,266 crore.

Over the past two months, UltraTech revised the bid and is now
said to be offering nearly INR8,000 crore for Binani Cement,
which will cover all the financial and operational creditor dues,
the Hindu BusinessLine notes.

                       About Binani Cement

Binani Cement is a subsidiary of Binani Industries, a
conglomerate with manufacturing and R&D operations. It has a
manufacturing capacity of 11.25 million tonnes (mt) per annum
with integrated plants in India and China, and grinding units in
Dubai.

On July 25, 207, the Kolkota bench of the National Company Law
Tribunal (NCLT) admitted an insolvency petition against Binani
Cement.

Bank of Baroda (BoB) had referred Binani to the bankruptcy court
after it failed to repay a sum of INR97 crore. BoB has appointed
Vijaykumar V Iyer of Deloitte India as the interim resolution
professional (IRP) to oversee the insolvency process.

The company owes a consortium of lenders close to INR3,042.93
crore. Edelweiss ARC, which has bought over a chunk of the debt
from bankers, is now the leader of the consortium.


C. K. VELU: CRISIL Migrates B+ Rating to Not Cooperating Category
-----------------------------------------------------------------
CRISIL has been consistently following up with C. K. Velu (CKV)
for obtaining information through letters and emails dated
March 19, 2018, April 12, 2018 and April 18, 2018 among others,
apart from telephonic communication. However, the issuer has
remained non cooperative.

                     Amount
   Facilities       (INR Mln)     Ratings
   ----------       ---------     -------
   Overdraft             5        CRISIL B+/Stable (Issuer Not
                                  Cooperating; Rating Migrated)

The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING'. These ratings lack a
forward looking component as it is arrived at without any
management interaction and is based on best available or limited
or dated information on the company.

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of C. K. Velu, which restricts
CRISIL's ability to take a forward looking view on the entity's
credit quality. CRISIL believes information available on C. K.
Velu is consistent with 'Scenario 2' outlined in the 'Framework
for Assessing Consistency of Information with CRISIL BBB rating
category or lower'.

Therefore, on account of inadequate information and lack of
management cooperation, CRISIL has migrated the rating on bank
facility of C. K. Velu to CRISIL B+/Stable Issuer not
cooperating'.

Set up as a proprietorship firm in 1996, CKV is engaged in
executing civil construction works for government entities. Mr C
K Velu is the proprietor.


CAPITAL AGRO: CRISIL Withdraws B Rating on INR7MM Cash Loan
-----------------------------------------------------------
CRISIL has been consistently following up with Capital Agro
Export Private Limited (CAEPL) for obtaining information through
letters and emails dated April 5, 2018 and April 12, 2018 among
others, apart from telephonic communication. However, the issuer
has remained non cooperative.

                     Amount
   Facilities       (INR Mln)     Ratings
   ----------       ---------     -------
   Cash Credit           7        CRISIL B/Stable (Issuer Not
                                  Cooperating; Migrated from
                                  'CRISIL B/Stable'; Rating
                                  Withdrawn)

   Proposed Long Term    3        CRISIL B/Stable (Issuer Not
   Bank Loan Facility             Cooperating; Migrated from
                                  'CRISIL B/Stable'; Rating
                                  Withdrawn)

The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING'. These ratings lack a
forward looking component as it is arrived at without any
management interaction and is based on best available or limited
or dated information on the company.

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of CAEPL. This restricts CRISIL's
ability to take a forward looking view on the credit quality of
the entity. CRISIL believes that the information available for
CAEPL is consistent with 'Scenario 1' outlined in the 'Framework
for Assessing Information Adequacy Risk with CRISIL BB' rating
category or lower. Based on the last available information,
CRISIL has migrated the rating on the bank facilities of CAEPL to
'CRISIL B/Stable Issuer Not Cooperating' from 'CRISIL B/Stable'.

CRISIL has withdrawn its rating on the bank facilities of CAEPL
at the company's request and after receiving a no-objection
certificate from Bank. The rating action is in line with CRISIL's
policy on withdrawal of its ratings on bank facilities.

CAEPL was incorporated in 1998, promoted by Mr Hari Prakash
Sharma, Mr Rajan Sharma, Mr Surendar Kumar Agarwal, and Mr
Vaishno Das Agarwal. The Delhi-based company mills and sorts
basmati rice for sales in the domestic market.


CHOWDHRY RUBBER: Ind-Ra Migrates 'B+' Rating to Non-Cooperating
---------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Chowdhry Rubber
and Chemicals Private Limited's (CRCPL) Long-Term Issuer Rating
to the non-cooperating category. The issuer did not participate
in the rating exercise despite continuous requests and follow-ups
by the agency. Therefore, investors and other users are advised
to take appropriate caution while using the rating. The rating
will now appear as 'IND B+ (ISSUER NOT COOPERATING)' on the
agency's website.

The instrument-wise rating actions are:

-- INR175 mil. Fund-based limits migrated to Non-Cooperating
    Category with IND B+ (ISSUER NOT COOPERATING)/IND A4 (ISSUER
     NOT COOPERATING) rating; and

-- INR95 mil. Non-fund-based limits migrated to Non-Cooperating
     Category with IND A4 (ISSUER NOT COOPERATING) rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
April 7, 2017. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.

COMPANY PROFILE

Established in 1952, CRCPL is engaged in the trading of
industrial chemicals such as zinc oxide, titanium dioxide,
synthetic rubber chemical, calcium carbonate etc. meeting the
requirement of big industries.


CONTEC SYNDICATE: Ind-Ra Lowers Long Term Issuer Rating to 'D'
--------------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded Contec
Syndicate Private Limited's (CSPL) Long-Term Issuer Rating to
'IND D' from 'IND BB (ISSUER NOT COOPERATING)'. Simultaneously,
Ind-Ra has reassigned CSPL a Long-Term Issuer Rating of 'IND BB-
'. The Outlook is Stable.

The instrument-wise rating actions are:

-- INR30 mil. Fund-based working capital limit downgraded and
     reassigned with IND BB-/Stable rating; and

-- INR120 mil. Non-fund-based working capital limit downgraded
     and reassigned with IND A4+# rating.

* Reassigned 'IND BB-'/Stable after being downgraded to 'IND D'
# Reassigned 'IND A4+' after being downgraded to 'IND D'

KEY RATING DRIVERS

The downgrade reflects CSPL's overutilization of the fund-based
working capital limits during October- December 2017 for more
than 30 days due to a tight liquidity position.

The reassignment of an 'IND BB-' Long-Term Issuer Rating reflects
the company's use of the fund-based facilities was within the
sanctioned limits over the three months ended March 2018. This
was due to the relative easing of the tight liquidity situation,
resulting from better receivable management. However, the
company's liquidity position is still tight due to its high
working capital requirement, as reflected by its near full use of
the fund-based limits and availing of temporary overdraft during
January-March 2018.

The ratings continue to reflect CSPL's small scale of operations
and modest credit metrics due to site clearance issues. As per
the company's FY18 provisional financials, revenue fell to INR185
million (FY17: INR255.5 million, FY16: INR289.9 million). Ind-Ra
expects revenue to improve in FY19 as the company had an order
book of INR1,498 million (5.6x of FY17 revenue) in the form of
direct and sub contracts. Net leverage (adjusted net
debt/operating EBITDAR) was almost stable at 1.7x in FY18P (FY17:
1.8x, FY16: 1x); however, EBITDAR interest coverage deteriorated
to 2.6x (3.1x, 4.5x) due to a decline in absolute EBITDA,
resulting from the decline in revenue.

However, the ratings are supported by CSPL's strong EBITDA
margin, which ranged between 15.3% and 21% over FY15-FY18P.
Despite the decline in the absolute EBITDA, the margin increased
to 21% in FY18P (FY17: 18.4%, FY16: 12.1%) on the back of
execution of high margin projects. Almost all the contracts
executed by the company have escalation clauses built-in,
mitigating input price volatility.

The ratings continue to benefit from the promoters' over two
decades of experience in the construction business.

RATING SENSITIVITIES

Negative: Any deterioration in the liquidity position and/or a
sustained deterioration in the credit profile could lead to a
negative rating action.

Positive: A significant increase in revenue while maintaining the
operating profitability could lead to a positive rating action.

COMPANY PROFILE

CSPL, incorporated in 1996, is managed by Vemulapalli Vishnupriya
and Vunnam Vishnupriya. The company is involved in the
construction of bridges, roads, earthworks and other
infrastructure work. It belongs to the category of special class
civil contractors with the governments of Andhra Pradesh and
Telangana.


DCDC HEALTH: Ind-Ra Migrates 'BB-' LT Rating to Non-Cooperating
---------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated DCDC Health
Services Private Limited's (DCDC) Long-Term Issuer Rating to the
non-cooperating category. The issuer did not participate in the
rating exercise despite continuous requests and follow-ups by the
agency. Therefore, investors and other users are advised to take
appropriate caution while using the rating. The rating will now
appear as 'IND BB- (ISSUER NOT COOPERATING)' on the agency's
website.

The instrument-wise rating actions are:

-- INR25 mil. Fund-based working capital limit migrated to Non-
     Cooperating Category with IND BB- (ISSUER NOT COOPERATING)
     /IND A4+ (ISSUER NOT COOPERATING) rating;

-- INR20 mil. Non-fund-based working capital limit migrated to
    Non-Cooperating Category with IND A4+ (ISSUER NOT
    COOPERATING) rating; and

-- INR3.13 mil. Term loan due on April 2017 migrated to Non-
     Cooperating Category with IND BB- (ISSUER NOT COOPERATING)
     rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
March 17, 2017. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.

COMPANY PROFILE

DCDC commenced operations as a sole proprietorship firm M/s Deep
Healthcare on July 23, 2009. The firm was converted into private
limited company in 2014 under the current name.


DEEPAK AGRAWAL: Ind-Ra Migrates 'D' LT Rating to Non-Cooperating
----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Deepak Agrawal's
(DKA) Long-Term Issuer Rating to the non-cooperating category.
The issuer did not participate in the rating exercise despite
continuous requests and follow-ups by the agency. Therefore,
investors and other users are advised to take appropriate caution
while using the rating. The rating will now appear as 'IND D
(ISSUER NOT COOPERATING)' on the agency's website.

The instrument-wise rating actions are:

-- INR20 mil. Fund-based limits migrated to Non-Cooperating
     Category with IND C (ISSUER NOT COOPERATING) rating; and

-- INR70 mil. Non-fund-based limits migrated to Non-Cooperating
     Category with IND A4 (ISSUER NOT COOPERATING) rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
March 31, 2017. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.

COMPANY PROFILE

DKA was incorporated in September 2002 as a proprietorship
concern by Deepak Kumar Agrawal. The firm is engaged in the civil
construction business and executes various roads and building
works for government projects on a tender basis.


GOLD SPIN: CRISIL Withdraws B+ Rating on INR7.15MM Cash Loan
------------------------------------------------------------
CRISIL has been consistently following up with Gold Spin India
Private Limited (GSIPL) for obtaining information through letters
and emails dated April 05, 2018 and April 12, 2018 among others,
apart from telephonic communication. However, the issuer has
remained non cooperative.

                     Amount
   Facilities       (INR Mln)     Ratings
   ----------       ---------     -------
   Cash Credit         7.15       CRISIL B+/Stable (Issuer Not
                                  Cooperating; Migrated from
                                  'CRISIL B+/Stable'; Rating
                                  Withdrawn)

   Long Term Loan       .48       CRISIL B+/Stable (Issuer Not
                                  Cooperating; Migrated from
                                  'CRISIL B+/Stable'; Rating
                                  Withdrawn)

   Proposed Long Term   1.45      CRISIL B+/Stable (Issuer Not
   Bank Loan Facility             Cooperating; Migrated from
                                  'CRISIL B+/Stable'; Rating
                                  Withdrawn)

The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING'. These ratings lack a
forward looking component as it is arrived at without any
management interaction and is based on best available or limited
or dated information on the company.

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of GSIPL. This restricts CRISIL's
ability to take a forward looking view on the credit quality of
the entity. CRISIL believes that the information available for
GSIPL is consistent with 'Scenario 1' outlined in the 'Framework
for Assessing Consistency of Information with CRISIL BB' rating
category or lower. Based on the last available information,
CRISIL has migrated the ratings on the bank facilities of GSIPL
to 'CRISIL B+/Stable' Issuer not cooperating' from 'CRISIL
B+/Stable'.

CRISIL has withdrawn its rating on the bank facilities of GSIPL
on the request of the company and after receiving no objection
certificate from the bank. The rating action is in-line with
CRISIL's policy on withdrawal of its rating on bank loan
facilities.

GSIPL, incorporated in 2005 by Jain family, manufactures polar
fleece fabric used to make polar blankets. Its manufacturing
facility is in Panipat, and has capacity of 15 tonne per day.


HALDIA NIRMAN: Ind-Ra Migrates 'BB-' Rating to Non-Cooperating
--------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Haldia Nirman
Projects Private Limited's (HNPPL) Long-Term Issuer Rating to the
non-cooperating category. The issuer did not participate in the
rating exercise despite continuous requests and follow-ups by the
agency. Therefore, investors and other users are advised to take
appropriate caution while using the rating. The rating will now
appear as 'IND BB- (ISSUER NOT COOPERATING)' on the agency's
website.

The instrument-wise rating actions are:

-- INR56.5 mil. Fund-based limit migrated to Non-Cooperating
     Category with IND BB- (ISSUER NOT COOPERATING) rating; and

-- INR20.0 mil. Non Fund-based limit migrated to Non-Cooperating
     Category with IND A4+ (ISSUER NOT COOPERATING) rating.

Note: ISSUER NOT COOPERATING:  The ratings were last reviewed on
February 28, 2017. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.

COMPANY PROFILE

Incorporated in 2004, HNPPL is a small-sized West Bengal-based
company that provides different types of construction services,
including construction of buildings, pipelines, electrical works
and others, to both private and government entities. The company
is involved in different engineering activities such as
fabrication and erection of equipment, electrical and civil
works. It is managed by Mr. Saroj Kumar Bera.


HARMAN COTTEX: Ind-Ra Migrates 'BB-' LT Rating to Non-Cooperating
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Harman Cortex's
Long-Term Issuer Rating to the non-cooperating category. The
issuer did not participate in the rating exercise, despite
continuous requests and follow-ups by the agency. Therefore,
investors and other users are advised to take appropriate caution
while using these ratings. The rating will now appear as 'IND BB-
(ISSUER NOT COOPERATING)' on the agency's website.

The instrument-wise rating action is:

-- INR140 mil. Fund-based limit migrated to non-cooperating
     category with IND BB- (ISSUER NOT COOPERATING) rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
April 21, 2017. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.

COMPANY PROFILE

Incorporated in 2007, Harman Cottex is primarily engaged in the
ginning and pressing of cotton at its manufacturing unit on
Bistan Road, Khargone.


HINDUSTAN CONSTRUCTION: Unit Defaults on Bonds, Bank Loans
----------------------------------------------------------
Bloomberg News reports that Hindustan Construction Ltd. is headed
for its lowest close since June 2016 after its unit Lavasa Corp
Ltd. defaulted on repayment to bondholders.

According to Bloomberg, the stock declined 16 percent as of 11:51
a.m. in Mumbai on May 3, paring an earlier drop of as much as
24 percent, making it the biggest loser on the S&P BSE 500 Index.
The shares have slumped 53 percent this year compared with a
2.9 percent gain for the benchmark Sensex Index, Bloomberg says.

Lavasa, which is constructing a hill-station township project
near the city of Pune, has defaulted on dues payable to
bondholders and also has delayed repayment to other creditors
including banks, the company said in an exchange filing on May 3,
Bloomberg relays.

The firm and its units are working with lenders on a resolution
plan and are reassessing the business plan, the filing, as cited
by Bloomberg, showed. Under current Reserve Bank of India rules,
if a stressed loan is not resolved within 180 days, the case will
be moved to bankruptcy court, Bloomberg notes.

Hindustan Construction Company's businesses span the sectors of
Engineering & Construction, Real Estate, Infrastructure, Urban
development & Management.


HMTC ENGINEERING: CRISIL Assigns B+ Rating to INR8MM Cash Loan
--------------------------------------------------------------
CRISIL has assigned its 'CRISIL B+/Stable/CRISIL A4' ratings on
the bank facilities of HMTC Engineering Company (Kolkata) Private
Limited (HMTC).

                     Amount
   Facilities       (INR Mln)      Ratings
   ----------       ---------      -------
   Bank Guarantee        5         CRISIL A4
   Cash Credit           8         CRISIL B+/Stable

The rating reflects the company's below average financial risk
profile and its working capital intensive nature of operations.
These rating weaknesses are partially offset by promoters'
experience in the industry.

Key Rating Drivers & Detailed Description

Weakness

* Below average financial risk profile: Financial risk profile is
below average, with small net worth of Rs. 7.5 crs as on
March 31, 2017, interest coverage and NCATD ratios were at 1.5
times and 0.09 time, respectively, in fiscal 2017.

* Working capital intensive nature of operations: The company
operations are working capital intensive marked by gross current
assets estimated at 534 days which is on account of high
inventory (work in progress) of more than 250 days as on March
31st 2017.

Strengths

* Extensive experience of promoters: Benefits from the promoters'
experience (around two decades) and strong relations with
customers and suppliers should continue to support the business.

Outlook: Stable

CRISIL believes that HMTC will benefit from its promoters'
extensive experience. The outlook maybe revised to 'Positive' if
the company scales up its operations significantly while
maintaining its profitability resulting in improvement in
financial risk profile and or better than expected improvement in
working capital requirements. Conversely, it may be revised to
'Negative' if the company generates lower than expected cash
accruals or undertakes a large debt funded capex or its working
capital management deteriorates leading to weakening of financial
risk profile.

HMTC was established by Mr. K M Chatterjee as a partnership firm
in 1948 which was later converted into a private limited company
in April 2010. It is engaged in fabrication of steel structures
and manufacturing of bulk material handling equipment's. The
company is based out of Kolkata.


JOSEPH RUBBERS: CRISIL Withdraws B+ Rating on INR8MM Cash Loan
--------------------------------------------------------------
CRISIL has been consistently following up with Joseph Rubbers
(India) Private Limited (JRIPL) for obtaining information through
letters and emails dated April 5, 2018 and April 12, 2018 among
others, apart from telephonic communication. However, the issuer
has remained non cooperative.

                     Amount
   Facilities       (INR Mln)     Ratings
   ----------       ---------     -------
   Cash Credit           8        CRISIL B+/Stable (Issuer Not
                                  Cooperating; Migrated from
                                  'CRISIL B+/Stable'; Rating
                                  Withdrawn)

   Long Term Loan        2.05     CRISIL B+/Stable (Issuer Not
                                  Cooperating; Migrated from
                                  'CRISIL B+/Stable'; Rating
                                  Withdrawn)

   Proposed Long Term
   Bank Loan Facility    1.95     CRISIL B+/Stable (Issuer Not
                                  Cooperating; Migrated from
                                  'CRISIL B+/Stable'; Rating
                                  Withdrawn)

The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING'. These ratings lack a
forward looking component as it is arrived at without any
management interaction and is based on best available or limited
or dated information on the company.

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of JRIPL. This restricts CRISIL's
ability to take a forward looking view on the credit quality of
the entity. CRISIL believes that the information available for
JRIPL is consistent with 'Scenario 1' outlined in the 'Framework
for Assessing Information Adequacy Risk with CRISIL BB' rating
category or lower. Based on the last available information,
CRISIL has migrated the rating on the bank facilities of JRIPL to
'CRISIL B+/Stable Issuer Not Cooperating' from 'CRISIL
B+/Stable'.

CRISIL has withdrawn its rating on the bank facilities of JRIPL
at the company's request and after receiving a no-objection
certificate from Bank. The rating action is in line with CRISIL's
policy on withdrawal of its ratings on bank facilities.

JRIPL, Incorporated in 2008 and based out of Kanjirappally
(Kerala), JRIPL processes and sells rubber products. The day-to-
day operations of the company are managed by Mr. P J Dominic and
his wife Ms. Elizabeth Dominic.


LALCHAND GEM: Ind-Ra Affirms 'BB+' Issuer Rating, Outlook Stable
----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed Lalchand Gem and
Jewellers Private Limited's (LCGJ) Long-Term Issuer Rating at
'IND BB+'. The Outlook is Stable.

The instrument-wise rating action is:

-- INR200 mil. Fund-based working capital limits affirmed with
     IND BB+/Stable/IND A4+ rating.

Ind-Ra continues to take a consolidated view of the Lalchand
Group, which comprises LCGJ and Lalchand Jewellers Private
Limited (LCJPL; 'IND BB+'/Stable), to arrive at the ratings on
account of strong legal and operational linkages between the
entities. LCJPL holds 99.99% shares in LGCJ, and both entities
are engaged in jewelry retailing. Moreover, LCJPL has extended a
corporate guarantee of INR298.5 million to LCGJ.

KEY RATING DRIVERS

The ratings reflect the Lalchand Group's continued modest credit
profile as the group is growing steadily. According to
provisional financials for FY18, the total turnover of the
Lalchand Group increased to INR3.22 billion from INR2.7 billion
in FY17. In FY18, the group's interest coverage (gross interest
expense/operating EBITDAR) was 1.6x (FY17: 1.6x), net leverage
(total net adjusted debt/operating EBITDAR) was 4.7x (5.3x) and
operating EBITDA margin was 4.9% (4.7%). The revenue and
operating EBITDA margin grew on account of an increase in the
sales of jewelry. The improvement in the net leverage was
primarily due to an increase in absolute EBITDA.

The ratings also continue to reflect LCGJ's modest liquidity,
indicated by an average fund-based limit utilization of about 97%
for the 12 months ended March 2018. The net cash conversion cycle
was also modest at 109 days in FY18 (FY17: 116 days) owing to a
high inventory holding period, which is inherent in the jewelry
retail business. The improvement in the cycle was driven by an
enhancement in the inventory holding period.

The ratings, however, continue to be supported by the promoter's
experience of more than three decades in the local jewelry retail
business in Odisha through a showroom of 15,000 square feet in
Cuttack and an outlet of 25,000 square feet in Bhubaneshwar. The
group is an established brand in Odisha.

RATING SENSITIVITIES

Negative: Any decline in the profitability leading to any
deterioration in the overall credit metrics will be negative for
the ratings.

Positive: Any substantial improvement in the revenue and the
profitability leading to any improvement in the overall credit
metrics will be positive for the ratings.

COMPANY PROFILE

LCGJ and LCJPL were incorporated in 2015 and 1987, respectively,
and are engaged in the jewelry retail business.


LALCHAND JEWELLERS: Ind-Ra Affirms BB+ LT Rating, Outlook Stable
----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed Lalchand
Jewellers Private Limited' (LCJPL) Long-Term Issuer Rating at
'IND BB+'. The Outlook is Stable.

The instrument-wise rating action is:

-- INR350 mil. Fund-based working capital limits affirmed with
     IND BB+/Stable rating.

Ind-Ra continues to take a consolidated view of the Lalchand
Group, which comprises LCJPL and Lalchand Gem and Jewellers
Private Limited (LCGJ; 'IND BB+'/Stable), to arrive at the
ratings on account of strong legal and operational linkages
between the entities. LCJPL holds 99.99% shares in LGCJ, and both
entities are engaged in jewelry retailing. Moreover, LCJPL has
extended a corporate guarantee of INR298.5 million to LCGJ.

KEY RATING DRIVERS

The ratings reflect the Lalchand Group's continued modest credit
profile as the group is growing steadily. According to
provisional financials for FY18, the total turnover of the
Lalchand Group increased to INR3.22 billion from INR2.7 billion
in FY17. In FY18, the group's interest coverage (gross interest
expense/operating EBITDAR) was 1.6x (FY17: 1.6x), net leverage
(total net adjusted debt/operating EBITDAR) was 4.7x (5.3x) and
operating EBITDA margin was 4.9% (4.7%). The revenue and
operating EBITDA margin grew on account of an increase in the
sales of jewelry. The improvement in the net leverage was
primarily due to an increase in absolute EBITDA.

The ratings also continue to reflect LCJPL's modest liquidity,
indicated by an average fund-based limit utilization of about 99%
for the 12 months ended March 2018. The net cash conversion cycle
was also modest at 69 days in FY18 (FY17: 73 days) owing to a
high inventory holding period, which is inherent in the jewelry
retail business. The improvement in the cycle was driven by an
improvement in the inventory holding period.

The ratings, however, continue to be supported by the promoter's
experience of more than three decades in the local jewelry retail
business in Odisha through a showroom of 15,000 square feet in
Cuttack and an outlet of 25,000 square feet in Bhubaneshwar. The
group is an established brand in Odisha.

RATING SENSITIVITIES

Negative: Any decline in the profitability leading to any
deterioration in the overall credit metrics will be negative for
the ratings.

Positive: Any substantial improvement in the revenue and the
profitability leading to any improvement in the overall credit
metrics will be positive for the ratings.

COMPANY PROFILE

LCGJ and LCJPL were incorporated in 2015 and 1987, respectively,
and run a jewelry retail business.


M S GOLD: CRISIL Assigns 'B' Rating to INR5MM Cash Loan
-------------------------------------------------------
CRISIL has assigned its 'CRISIL B/Stable' rating to the bank
facilities of M S Gold and Diamonds (MSGD).

                     Amount
   Facilities       (INR Mln)     Ratings
   ----------       ---------     -------
   Cash Credit           5        CRISIL B/Stable
   Proposed Cash
   Credit Limit          5        CRISIL B/Stable

The rating reflects modest scale of operations and susceptibility
to intense competition in the fragmented gold retailing industry
and below average financial risk profile. These weaknesses are
partially offset by extensive entrepreneurship experience of the
promoters.

Key Rating Drivers & Detailed Description

Weakness

* Modest scale of operations in an intensely competitive
industry: Scale of operations is modest as reflected in estimated
revenues of INR7 crore in fiscal 2018. The retail jewellery
industry in India is intensely competitive and highly fragmented.
The presence of a large number of small and big players in the
retail jewellery market leads to profitability pressures.

* Large working capital requirements: Working capital
requirements are large as reflected in estimated gross current
assets (GCA) of above 1000 days as on March 31, 2018, driven by
high inventory requirements.  Working capital requirements will
continue to remain high over the medium term.

Strengths

* Experience of promoters: The firm is floated by Mr. Muhammed
Kadankot, day to day operations are managed by Mr. Sameer, son of
Mr. Muhammed Kadankot. Mr. Muhammed Kadankot has heavy equipment
trading and renting business in Kuwait. Mr. Sameer previously had
rubber trading business which he has discontinued and started
jewelry retailing business. Owing to many years of
entrepreneurship experience in various industry, the firm would
benefit from the experience of the promoters over the medium
term.

* Financial flexibility in terms of fund infusion from the
promoters: The promoters have brought in need based fund to
support the liquidity of the firm. Going ahead the promoters are
expected to infuse funds for the new shop in Bangalore (Ram
Nagar).

Outlook: Stable

CRISIL believes that MSGD would continue to benefit over the
medium term from the extensive entrepreneurship experience of the
promoters. The outlook may be revised to 'Positive', if the firm
records considerable increase in revenues while maintaining its
profitability resulting in improvement in its financial risk
profile. Conversely, the outlook may be revised to 'Negative', if
the firm records lower than expected revenue and profitability or
if the firm undertakes a larger than expected debt funded capital
expenditure programme, or if there are greater than expected
capital withdrawal by the partners, weakening in its financial
risk profile.

Incorporated in 2016, MSGD is proprietorship firm, engaged in
jewelry retail. MSGD runs a 2800 sq.ft showroom in Iritty,
Kerala.


MAHALAXMI COTTON: CRISIL Moves B+ Rating to Not Cooperating Cat.
----------------------------------------------------------------
CRISIL has been consistently following up with Mahalaxmi Cotton -
Karimnagar (MC) for obtaining information through letters and
emails dated March 20, 2018, April 10, 2018 and April 16, 2018
among others, apart from telephonic communication. However, the
issuer has remained non cooperative.

                       Amount
   Facilities         (INR Mln)    Ratings
   ----------         ---------    -------
   Cash Credit           6.75      CRISIL B+/Stable (Issuer Not
                                   Cooperating; Rating Migrated)


   Proposed Long Term    3.25      CRISIL B+/Stable (Issuer Not
   Bank Loan Facility              Cooperating; Rating Migrated)

The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING'. These ratings lack a
forward looking component as it is arrived at without any
management interaction and is based on best available or limited
or dated information on the company.

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of Mahalaxmi Cotton - Karimnagar,
which restricts CRISIL's ability to take a forward looking view
on the entity's credit quality. CRISIL believes information
available on Mahalaxmi Cotton - Karimnagar is consistent with
'Scenario 2' outlined in the 'Framework for Assessing Consistency
of Information with CRISIL BBB rating category or lower'.

Therefore, on account of inadequate information and lack of
management cooperation, CRISIL has migrated the rating on bank
facilities of Mahalaxmi Cotton - Karimnagar to CRISIL B+/Stable
Issuer not cooperating'.

MC, established as a partnership firm in 2016, gins and presses
cotton. The manufacturing unit is located in Peddapalli, in the
Karimnagar district of Telangana. Promoters, Mr D Sathishkumar
and Mr K Malla Reddy and their family members, have been engaged
in cotton ginning for over two decades. The firm started
commercial production in November 2016.


MAXWELL: CRISIL Reaffirms B- Rating on INR4.5MM Cash Loan
---------------------------------------------------------
CRISIL has reaffirmed its 'CRISIL B-/Stable/CRISIL A4' ratings on
the bank facilities of Maxwell.

                     Amount
   Facilities       (INR Mln)      Ratings
   ----------       ---------      -------
   Cash Credit            4.5      CRISIL B-/Stable (Reaffirmed)
   Letter of Credit      13        CRISIL A4 (Reaffirmed)

The ratings continue to reflect Maxwell's weak liquidity due to
working capital intensive and modest scale of operations,
exposure to risks related to volatility in foreign exchange
rates, and a below-average financial risk profile. These
weaknesses are partially offset by the extensive experience of
its partners, and the funding support received from them.

Key Rating Drivers & Detailed Description

Weaknesses:

* Below-average financial risk profile: The capital structure is
likely to be highly leveraged, with estimated gearing of 3.8
times and total outside liabilities to tangible networth ratio of
3.3 times, as on March 31, 2018. Networth is likely to be modest
at an estimated INR8.7 crore. Debt protection metrics are
estimated to be weak, marked by interest coverage and net cash
accrual to total debt ratios of 1.13 times and 0.01 time,
respectively, in fiscal 2018.

* Large working capital requirement: Operations are highly
working capital intensive, as reflected in estimated gross
current assets of 511 days as on March 31, 2018, driven by large
credit offered to customers and sizeable inventory holding on
account of the slowdown in the industry.

* Modest scale of operations: Estimated revenue of INR51 crore in
fiscal 2018, reflects the modest scale of operations, which may
remain constrained by intense competition in the trading
business.

Strength:

* Extensive experience of the partners: Benefits from the
partners' two decade-long experience in the poly vinyl chloride
(PVC) resin trading business, and their healthy relationships
with key suppliers in the overseas market and customers in the
domestic market should support the business. The partners have
also extended unsecured loans.

Outlook: Stable

CRISIL believes Maxwell will continue to benefit from the
extensive experience of its partners and their funding support.
The outlook may be revised to 'Positive' if high cash accrual or
equity infusion and efficient working capital management,
strengthen financial risk profile. The outlook may be revised to
'Negative' if low cash accrual, stretch in working capital cycle,
or any large debt-funded capital expenditure, weakens liquidity.

Set up in 1991, Delhi-based Maxwell is a partnership firm of Mr
Mahabir Pershad and Mr Narender Kumar. It trades in rubber
additives, plasticisers and other chemicals.


MEGHALAYA CAST: Ind-Ra Assigns BB Issuer Rating, Outlook Stable
---------------------------------------------------------------
India Ratings and Research (Ind-Ra) has assigned Meghalaya Cast &
Alloys Private Limited (MCAPL) a Long-Term Issuer Rating of 'IND
BB'. The Outlook is Stable.

The instrument-wise rating actions are:

-- INR6.52 mil. Long-term loan due on March 2019 assigned with
     IND BB/Stable rating;

-- INR60 mil. Fund-based limits assigned with IND BB/Stable
     rating; and

-- INR21.38 mil. Non-fund-based limits assigned with IND A4+
     rating.

KEY RATING DRIVERS

The ratings reflect MCAPL's modest credit profile owing to high
competition in the steel industry. Revenue fell to INR411 million
in FY17 (FY16: INR672 million) due to a slump in sales during
November 2016 to March 2017. Ind-Ra believes revenue is likely to
have grown substantially in FY18, as the company booked revenue
of INR590 million until February 2018. Gross interest coverage
(EBITDA/gross interest expense) improved to 1.8x in FY17 (FY16:
1.7x) and net leverage (net debt/EBITDA) to 4.6x (5.5x) on the
back of a decline in debt.

However, the ratings are supported by the company's comfortable
liquidity position as indicated by 92% average utilization of the
fund-based working capital limits during the 12 months ended
March 2018.

The ratings are also supported by the founder's experience of
over a decade in the manufacturing and casting of mild steel
billets.

RATING SENSITIVITIES

Negative: A further decline in revenue and deterioration in the
credit metrics will lead to a negative rating action.

Positive: An improvement in revenue along with an improvement in
the credit metrics will lead to a positive rating action.

COMPANY PROFILE

Incorporated in 2001, MCAPL manufactures mild steel billets. The
company's manufacturing plant, located at Burnihat, Meghalaya,
has an annual installed capacity of 34,320 metric tons. The plant
is operating at 57% capacity.


MM AUTO: CRISIL Assigns B Rating to INR10.5MM Cash Loan
-------------------------------------------------------
CRISIL has revoked the suspension on bank facilities of MM Auto
Industries Limited (MMAI; part of the MM group), and has assigned
its 'CRISIL B/Stable/CRISIL A4' ratings to the bank facilities.

                     Amount
   Facilities       (INR Mln)     Ratings
   ----------       ---------     -------
   Bank Guarantee       2.5       CRISIL A4 (Assigned;
                                  Suspension Revoked)

   Cash Credit         10.5       CRISIL B/Stable (Assigned;
                                  Suspension Revoked)

   Proposed Fund-       2.05      CRISIL B/Stable (Assigned;
   Based Bank Limits              Suspension Revoked)

   Standby Line of      1.95      CRISIL B/Stable (Assigned;
   Credit                         Suspension Revoked)

CRISIL had suspended the rating on Nov. 7, 2012, as the company
had not provided the information required for a rating review.
MMAI has now shared the requisite information, enabling CRISIL to
assign the rating.

The rating reflects the modest scale and working capital-
intensive nature of operations, along with moderate financial
risk profile. These rating weaknesses are partially offset by the
extensive experience of the promoters, healthy relationships with
reputed original equipment manufacturers (OEMs), and cash accrual
sufficient to cover the maturing debt, in addition to funding
support from the promoters.

Analytical Approach

CRISIL has combined the business and financial risk profiles of
MMAI and its subsidiaries; MM Asan Auto Limited, MMR Packaging
Private Limited, MM Info system Private Limited and M M Vidyut
Private Limited; together referred to as the MM group, as the
companies are managed by the same promoter, and there is
financial fungibility between group entities.

Key Rating Drivers & Detailed Description

Weakness

* Modest scale of operations: Scale of operations are likely to
remain modest and continue to limit cost efficiencies, as
reflected in revenue of INR73 crore and INR62.5 crore (expected),
in fiscals 2017 and 2018, respectively.

* Working capital-intensive operations: Operations are working
capital intensive, with gross current assets ranging from 130-170
days over the two fiscals ended March 31, 2017, led by average
inventory of 90-120 days, to cater to monthly/quarterly/half-
yearly production schedules from customers.

* Average financial risk profile: The debt protection indicator
like Interest coverage ratio weakened to 1.05 times during 2017
(2.5 times during the previous fiscal) due to a fall in
profitability. Though, capital structure is moderate with
estimated gearing and networth of 1 time and INR42 crore,
respectively, as on March 31, 2018. The debt protection indicator
to remain average on account of low profitability and thus low
accruals.

Strengths

* Extensive experience of the promoters, and established
relationships with reputed OEMs: The three decade-long experience
of the promoters in the metallic coil spring manufacturing
business, and their established relationships with major OEMs
such as Hero MotoCorp Ltd, Maruti Suzuki Ltd, will continue to
support the business risk profile.
Outlook: Stable

CRISIL believes the MM group will continue to benefit from the
extensive experience of its promoters and established
relationships with reputed OEMs. The outlook may be revised to
'Positive' if substantial growth in revenue and profitability,
leads to large net cash accrual and reduces debt levels. The
outlook may be revised to 'Negative' in case of lower-than-
anticipated revenue or profitability, or if any major capital
expenditure plans, weaken the financial risk profile and
liquidity.

MMAI, established in 1991, manufactures precision metallic coil
spring products for the automotive industry. The company, whose
operations are managed by the promoter, Mr. Manoj Singhal
operates two units at Manesar and Haridwar, with a combined
capacity of around 12500 tons per annum.

MM Asan Auto Ltd: The company has set up a state-of-the-art
retractor springs (seat belts and allied applications)
manufacturing plant at Manesar in 2010, aided by technical know-
how from a South Korean player.

MM Info System Pvt. Ltd: The Company provides ERP software and
solutions.

MMR Packaging Pvt. Ltd: There are currently no operations in the
company.

MM Vidyut Pvt. Ltd: There are currently no operations in the
company.


MOUNT ZION: CRISIL Lowers Rating on INR14.61MM LT Loan to D
-----------------------------------------------------------
CRISIL has downgraded its ratings on the bank facilities of Mount
Zion Medical College (MZMC) to 'CRISIL D/CRISIL D' from 'CRISIL
BB/Stable/CRISIL A4+'.

                     Amount
   Facilities       (INR Mln)      Ratings
   ----------       ---------      -------
   Bank Guarantee        9         CRISIL D (Downgraded from
                                   'CRISIL A4+')

   Long Term Loan       14.61      CRISIL D (Downgraded from
                                   'CRISIL BB/Stable')

   Overdraft             1.50      CRISIL D (Downgraded from
                                   'CRISIL BB/Stable')

The downgrade reflects instances of delay by MZMC in servicing
its debt, on account of weak liquidity.

Key Rating Drivers & Detailed Description

Weakness:

* Below-average financial risk profile: MZMC's financial risk
profile is modest, marked by weak interest coverage and cash flow
mismatches.

Strength:

* Extensive experience of promoters and funding support from
group institutes: MZMC is a part of CEWS, which was established
in 1983 and is engaged in offering educational courses in
engineering, medical, air craft maintenance, nursing, law, pharma
and primary and secondary education through various institutes.
The chairman has extensive experience in managing educational
institutes. MZMC is expected to continue to benefit from being
part of the CEWS group.

Established in 2014 at Adoor, Kerala, by Dr. K J Abraham
Kalamannil (founder-chairman of Charitable Education and Welfare
Society; CEWS), MZMC operates a medical college with capacity of
100 students; first academic session was in 2014-15. Mount Zion
Medical College Hospital, established in 2012, is a 300-bed,
multi-speciality hospital. Both these institutes are managed by
CEWS.


NAGOORAR ENTERPRISES: CRISIL Moves B+ Rating to Not Cooperating
---------------------------------------------------------------
CRISIL has been consistently following up with Nagoorar
Enterprises (NE) for obtaining information through letters and
emails dated March 19, 2018, April 12, 2018 and April 18, 2018
among others, apart from telephonic communication. However, the
issuer has remained non cooperative.

                     Amount
   Facilities       (INR Mln)     Ratings
   ----------       ---------     -------
   Cash Credit          15        CRISIL B+/Stable (Issuer Not
                                  Cooperating; Rating Migrated)

   Term Loan            3.44      CRISIL B+/Stable (Issuer Not
                                  Cooperating; Rating Migrated)

The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING'. These ratings lack a
forward looking component as it is arrived at without any
management interaction and is based on best available or limited
or dated information on the company.

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of Nagoorar Enterprises. Which
restricts CRISIL's ability to take a forward looking view on the
entity's credit quality. CRISIL believes information available on
Nagoorar Enterprises is consistent with 'Scenario 2' outlined in
the 'Framework for Assessing Consistency of Information with
CRISIL BBB' rating category or lower'.

Therefore, on account of inadequate information and lack of
management cooperation, CRISIL has migrated the rating on bank
facilities of Nagoorar Enterprises to 'CRISIL B+/Stable Issuer
not cooperating'.

For arriving at its rating, CRISIL has combined the business and
financial risk profiles of NE, NKR Enterprise (NKR), Green
Travels and Transport (GTT), and Shahul Hamid - labour contract
(SH). This is because all these firms, collectively referred to
as the Nagoorar group, have a common promoter, and significant
operational and financial linkages.

NE was established in 1985 as a proprietorship firm by Mr N
Shahul Hameed. The firm trades in scrap material such as mild
steel scrap, fly ash, and firewood; sprint green; and plastic
scrap.


NEELKANTH STEEL: Ind-Ra Assigns BB- Issuer Rating, Outlook Stable
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has assigned Neelkanth Steel
and Alloys (NSA) a Long-Term Issuer Rating of 'IND BB-'. The
Outlook is Stable.

The instrument-wise rating action is:

-- INR225.00 mil. Fund-based working capital limits assigned
    with IND BB-/Stable/IND A4+ rating.

KEY RATING DRIVERS

The ratings reflect NSA's small scale of operations, weak credit
metrics and thin EBITDA margin owing to its presence in a highly
fragmented and intensely competitive in the iron and steel
industry and the trading nature of the business. In FY17, NSA's
revenue was INR1,118.96 million (FY16: INR1,385.40 million),
EBITDA margin was 3.04% (2.79%), net financial leverage (total
adjusted net debt/operating EBITDA) was 9.04x (7.66x) and EBITDA
gross interest coverage (operating EBITDA/gross interest
expenses) was 1.15x (1.16x). The rise in the margin was driven by
a decrease in administration cost, while the decline in the
revenue was due to a fall in sales volume. Moreover, the
deterioration in the credit metrics was due to an increase in the
short-term loan, which led to a rise in interest cost.

The ratings also reflect NSA's elongated cash conversion cycle
(FY17: 111 days; FY16: 81 days). The deterioration in the cycle
was due to a delay in realization from its debtors.

The ratings, however, are supported by NSA's comfortable
liquidity, indicated by a working capital limit utilization of
about 92% over the 12 months ended March 2018, and the partners'
experience of over a decade in the iron and steel industry that
has led to strong relationships with customers and suppliers.

RATING SENSITIVITIES

Negative: Any further decline in the revenue and any fall in the
EBITDA margin leading to further deterioration in the credit
metrics on a sustained basis will be negative for the rating.

Positive: Maintaining the revenue and the profitability at the
current levels, with an improvement in the working capital cycle,
leading to any improvement in the credit metrics will be positive
for the ratings.

COMPANY PROFILE

Incorporated in 1994, NSA is a partnership firm that is an
authorized distributor for Tata Steel Limited ('IND AA'/RWE). In
addition, it is engaged in the distribution of iron and steel
products in western Uttar Pradesh.


OMEGA MARKETING: Ind-Ra Migrates 'BB+' Rating to Non-Cooperating
----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Omega Marketing
Private Limited's Long-Term Issuer Rating to the non-cooperating
category. The issuer did not participate in the rating exercise,
despite continuous requests and follow-ups by the agency.
Therefore, investors and other users are advised to take
appropriate caution while using the rating. The rating will now
appear as 'IND BB+ (ISSUER NOT COOPERATING)' on the agency's
website.

The instrument-wise rating action is:

-- INR80 mil. Fund-based limit migrated to Non-Cooperating
    Category with IND BB+ (ISSUER NOT COOPERATING) /IND A4+
    (ISSUER NOT COOPERATING) rating.

Note: ISSUER NOT COOPERATING:  The ratings were last reviewed on
March 24, 2017. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.

COMPANY PROFILE

Omega Marketing was incorporated in 1994 and is engaged in the
trading of adhesives, footwear chemicals, screen printing inks
and graphics products, and manufacturing of footwear at its
facility located in Haridwar.


Q-7 CERAMIC: CRISIL Assigns B Rating to INR8MM Proposed Loan
------------------------------------------------------------
CRISIL has assigned its 'CRISIL B/Stable/CRISIL A4' ratings to
the bank facilities of Q-7 Ceramic LLP (Q-7).

                       Amount
   Facilities         (INR Mln)     Ratings
   ----------         ---------     -------
   Proposed Long Term
   Bank Loan Facility      8        CRISIL B/Stable

   Proposed Short Term
   Bank Loan Facility      7        CRISIL A4

The ratings reflect exposure to project implementation risk and
susceptibility of profitability to changes in raw material
prices. These weaknesses are partially offset by the extensive
experience of its promoters in the ceramic industry and strategic
location of plant.

Key Rating Drivers & Detailed Description

Weaknesses:

* Exposure to project implementation risk: Since project is in
nascent stage of construction, timely completion and
stabilisation of operations without any cost overrun will remain
key rating sensitivity factors.

* Susceptibility of operating margin to raw material price
volatility and low bargaining power: Raw materials such as
feldspar and quartz account for 40-50% of total cost of sales,
while gas and power constitute 20-25%. Due to intense
competition, it will be difficult for marginal players such as Q-
7 to pass on any hike in input rates to customers. Hence,
operating margin will remain exposed to raw material price
volatility and will be a key rating sensitivity factor.

Strengths:

* Extensive experience of promoters: Presence of more than a
decade through group concern (Sepal Tiles Pvt Ltd) has enabled
the promoters to build healthy relationship with customers. Their
experience is expected to support the business in the medium
term.

* Locational advantage: Manufacturing facilities are in Morbi,
the country's ceramic hub that accounts for 65-70% of total
ceramic tiles production. Hence, the firm will have easy access
to feldspar (main raw material) and contractors and skilled
laborers. Other critical infrastructure such as gas and power is
also readily available there.

Outlook: Stable

CRISIL believes Q-7 will benefit over the medium term from the
extensive experience of its promoters. The outlook may be revised
to 'Positive' in case of timely stabilization of operations and
healthy ramp up in sales. The outlook may be revised to
'Negative' in case of delay in commencement in operations or
lower-than-expected revenue and profitability.

Incorporated in 2017, Q-7 is a Gujarat based entity which is
setting up a plant to manufacture ceramic wall tiles. It is
promoted by Mr. Pravinbhai and family. Its manufacturing plant is
located in Morbi.


RAHIS COLD: CRISIL Reaffirms B Rating on INR7.5MM Cash Loan
-----------------------------------------------------------
CRISIL has reaffirmed its 'CRISIL B/Stable' rating on bank loan
facilities of Rahis Cold Storage Private Limited (RCS).

                     Amount
   Facilities       (INR Mln)     Ratings
   ----------       ---------     -------
   Cash Credit          7.5       CRISIL B/Stable (Reaffirmed)
   Long Term Loan       4.5       CRISIL B/Stable (Reaffirmed)


The rating continues to reflect RCS's small scale of operations
and below-average financial risk profile. The rating also factors
susceptibility to regulatory changes and intense competition.
These weaknesses are partially offset by the extensive experience
of the promoters.

Key Rating Drivers & Detailed Description

Weakness:

* Weak financial risk profile: Financial risk profile is
constrained by small networth and high gearing of INR2.22 crore
and 4.94 times, respectively, as on March 31, 2017. Muted
accretion to reserve will keep networth small, though gradual
repayment of term debt may improve gearing.

* Highly regulated and competitive nature of the industry: The
potato cold storage industry in West Bengal is regulated by the
West Bengal Cold Storage Association. Rental rates are fixed by
the Department of Agricultural Marketing of West Bengal. Fixed
rental limits players' ability to leverage their strengths and
geographic advantages. Furthermore, the industry is highly
fragmented, as the largest player has a market share of less than
0.5%. This limits bargaining power, and forces players to offer
discounts to ensure healthy utilisation of capacity.

Strengths:

* Extensive experience of promoters: Presence of over three
decades has enabled the promoters to understand market dynamics,
establish strong relationships with traders and farmers, and
ensure healthy utilisation of storage capacity.
Outlook: Stable

CRISIL believes RCS will benefit over the medium term from the
extensive experience of its promoters. The outlook may be revised
to 'Positive' if revenue and cash accrual improve, and financing
of farmer loans is efficiently managed. The outlook may be
revised to 'Negative' if lower-than-expected cash accrual or
stretch in realisation of loans extended to farmers weakens
liquidity.

Incorporated in August 2014 by Mr SK Jakir Ali and Ms Tasmina
Begam, RCS provides cold storage facilities to potato farmers and
traders.


RAVICHAND FOOD: CRISIL Hikes Rating on INR4MM Cash Loan to B+
-------------------------------------------------------------
CRISIL has upgraded its rating on the long-term bank facilities
of Ravichand Food Industries (RFI) to 'CRISIL B+/Stable' from
'CRISIL B/Stable.'

                     Amount
   Facilities       (INR Mln)    Ratings
   ----------       ---------    -------
   Cash Credit           4       CRISIL B+/Stable (Upgraded
                                 from 'CRISIL B/Stable')

   Long Term Loan        2.2     CRISIL B+/Stable (Upgraded
                                 from 'CRISIL B/Stable')

   Proposed Long Term    3.75    CRISIL B+/Stable (Upgraded
   Bank Loan Facility            from 'CRISIL B/Stable')

The rating upgrade reflects significant and sustainable
improvement in business risk profile, driven by substantial
increase in revenue and stable profitability. Revenue increased
to an estimated INR46 crore in fiscal 2018, from INR20.76 crore
and INR4.11 crore, respectively, in fiscals 2017 and 2016. Cash
accrual was moderate at an estimated INR1.20 crore and INR1.10
crore in fiscals 2018 and 2017, respectively. Debt protection
metrics are adequate, with interest coverage at 2.97 times for
fiscal 2017, and expected to be at similar level for fiscal 2018.

The rating however, continues to reflect RFI's modest scale of
operations and below-average financial risk profile. These rating
weaknesses are partially offset by the proprietor's extensive
experience.

Analytical Approach

Of the interest-bearing unsecured loans of INR2.94 crore that RFI
has received from the proprietor, 12% has been treated as neither
debt nor equity, since these are expected to remain in the
business, over the medium term.

Key Rating Drivers & Detailed Description

Weaknesses

* Modest scale of operations in an intensely competitive industry
Intense competition in the rice milling industry continues to
constrain scalability, pricing power and profitability. Revenue
remains modest despite steady increase-to an estimated INR46
crore in fiscal 2018, from INR20.76 crore and INR4.11 crore,
respectively, in fiscals 2017 and  2016.

* Below average financial risk profile: Capital structure is
weak, with high total outside liabilities to adjusted networth
(TOL/ANW) and modest networth of 4.97 times and INR2.4 crore,
respectively, as of March 2017 and estimated to be around 3.0
times INR2.4 crore, as on March 2018. Interest coverage is
expected to remain adequate.

Strengths

* Proprietor's extensive experience: The proprietor, Mr Pravin
Dadaji Khobragade, has longstanding experience of over 3 decades
in the agro commodities business, and has helped maintain steady
growth in revenue. His healthy relationships with suppliers and
customers also supports market position.

Outlook: Stable

CRISIL believes RFI will continue to benefit over the medium term
from the extensive experience of its promoters. The outlook may
be revised to 'Positive' if significant and sustainable
improvement in revenue and cash accrual, or equity infusion
strengthens financial risk profile. The outlook may be revised to
'Negative' if any pressure on profitability leads to lower-than-
expected cash accrual, or if sizeable working capital requirement
or unexpected withdrawals further weakens financial risk profile.

RFI, set up as a proprietorship firm in 2015, began operations in
July 2016. It mills and processes paddy into rice, rice bran and
broken rice. The mill, at Mul, Maharashtra, has a processing
capacity of 8 tonne per hour. Mr Pravin Dadaji Khobragade is the
proprietor.


RAYON REALTY: CRISIL Withdraws B+ Rating on INR8MM Term Loan
------------------------------------------------------------
CRISIL has been consistently following up with Rayon Realty
Private Limited (RRPL) for obtaining information through letters
and emails dated February 26, 2018, April 11, 2018 and April 16,
2018 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

                     Amount
   Facilities       (INR Mln)     Ratings
   ----------       ---------     -------
   Term Loan             8        CRISIL B+/Stable (Issuer Not
                                  Cooperating; Migrated from
                                  'CRISIL B+/Stable'; Rating
                                  Withdrawn)

The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING'. These ratings lack a
forward looking component as it is arrived at without any
management interaction and is based on best available or limited
or dated information on the company.

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of RRPL. This restricts CRISIL's
ability to take a forward looking view on the credit quality of
the entity. CRISIL believes that the information available for
RRPL is consistent with 'Scenario 2' outlined in the 'Framework
for Assessing Information Adequacy Risk with CRISIL BBB' rating
category or lower. Based on the last available information,
CRISIL has migrated the rating on the bank facility of RRPL to
'CRISIL B+/Stable Issuer Not Cooperating' from 'CRISIL
B+/Stable'.

CRISIL has withdrawn its rating on the bank facility of RRPL at
the company's request and after receiving a no-objection
certificate from Bank. The rating action is in line with CRISIL's
policy on withdrawal of its ratings on bank facilities.

Incorporated in 2010 and promoted by Ahmedabad-based Kataria
family, RRPL generates energy through its 2.1-megawatt windmill
at Sundankuruchi village in the Tirunelveli district of Tamil
Nadu.


RICE EXPORTS: Ind-Ra Maintains B Issuer Rating in Non-Cooperating
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has maintained LS Rice
Exports Pvt Ltd.'s Long-Term Issuer Rating in the non-cooperating
category. The issuer did not participate in the rating exercise,
despite continuous requests and follow-ups by the agency.
Therefore, investors and other users are advised to take
appropriate caution while using the rating. The rating will
continue to appear as 'IND B (ISSUER NOT COOPERATING)' on the
agency's website.

The instrument-wise rating actions are:

-- INR40 mil. Fund-based working capital limits maintained in
     non-cooperating category with IND B (ISSUER NOT COOPERATING)
     /IND A4 (ISSUER NOT COOPERATING) rating; and

-- INR13.1 mil. Term loan maintained in non-cooperating category
     with IND B (ISSUER NOT COOPERATING) rating.

Note: ISSUER NOT COOPERATING:  The ratings were last reviewed on
February 26, 2015. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.

COMPANY PROFILE

Incorporated in 2008 in Punjab, LS Rice Exports operates an
8,000MT/year rice mill.


RISHAB INTERNATIONAL: CRISIL Withdraws B Rating on INR7MM Loan
--------------------------------------------------------------
CRISIL has been consistently following up with Rishab
International - Safidon (RI) for obtaining information through
letters and emails dated December 06, 2017, and January 31, 2018,
among others, apart from telephonic communication. However, the
issuer has remained non cooperative.

                     Amount
   Facilities       (INR Mln)     Ratings
   ----------       ---------     -------
   Inventory Funding
   Facility               5       CRISIL B/Stable (Issuer Not
                                  Cooperating; Rating Withdrawn)

   Proposed Inventory
   Funding                7       CRISIL B/Stable (Issuer Not
                                  Cooperating; Rating Withdrawn)

The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING'. These ratings lack a
forward looking component as they are arrived at without any
management interaction and are based on best available or limited
or dated information on the company.

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of RI. This restricts CRISIL's
ability to take a forward RI is consistent with 'Scenario 1'
outlined in the 'Framework for Assessing Consistency of
Information with CRISIL BB rating category or lower. Based on the
last available information, the rating on bank facilities of RI
continues to be 'CRISIL B/Stable Issuer Not Cooperating'.

CRISIL has withdrawn its ratings on the bank facilities of RI on
the request of the company and receipt of a no objection / due
certificate from its bank. The rating action is in line with
CRISIL's policy on withdrawal of its ratings on bank loans.

Established in 1997 by Mr Sandeep Kumar Jain, RI is a
proprietorship firm, engaged in processing and sale of basmati
rice. Its facility is at Safidon Haryana.


SAHYADRI RENEWABLE: Ind-Ra Migrates 'D' Rating to Non-Cooperating
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Sahyadri
Renewable Energy Private Limited's Long-Term Issuer Rating to the
non-cooperating category. The issuer did not participate in the
rating exercise, despite continuous requests and follow-ups by
the agency. Therefore, investors and other users are advised to
take appropriate caution while using these ratings. The rating
will now appear as 'IND D (ISSUER NOT COOPERATING)' on the
agency's website.

The instrument-wise rating action is:

-- INR90.78 mil. Term loans (Long term) due on June 2024
    migrated to non-cooperating category with IND D (ISSUER NOT
    COOPERATING) rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
April 12, 2017. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.

COMPANY PROFILE

Sahyadri Renewable Energy operates a hydroelectric power plant in
Shahapur taluk of Thane district in Maharashtra.


SAVITON LIVING: Ind-Ra Migrates 'B' LT Rating to Non-Cooperating
----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Saviton Living
Concepts' (SLC) Long-Term Issuer Rating to the non-cooperating
category. The issuer did not participate in the rating exercise
despite continuous requests and follow-ups by the agency.
Therefore, investors and other users are advised to take
appropriate caution while using the rating. The rating will now
appear as 'IND B (ISSUER NOT COOPERATING)' on the agency's
website.

The instrument-wise rating actions are:

-- INR50.50 mil. Fund-based working capital limit Migrated to
     Non-Cooperating Category with IND B (ISSUER NOT COOPERATING)
     /IND A4 (ISSUER NOT COOPERATING) rating;

-- INR21.00 mil. Non-fund-based working capital limit migrated
    to Non-Cooperating Category with IND A4 (ISSUER NOT
    COOPERATING) rating; and

-- INR2.25 mil. Term loan due on December 2019 migrated to Non-
     Cooperating Category with IND B (ISSUER NOT COOPERATING)
     rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
March 23, 2017. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.

COMPANY PROFILE

SLC was initially established as a proprietorship concern named
Jaiswal Industries by Mr. P Jaiswal. In 2009, it was renamed
Saviton Living Concepts.

The firm manufactures office furniture such as chairs and tables,
as well as chair components, at its site in Roorkee (Haridwar,
Uttarakhand). Its corporate office is in New Delhi. The firm
caters to private companies, banks, government departments and
others.


SAVITON METPLAST: Ind-Ra Migrates 'B+' Rating to Non-Cooperating
----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Saviton Metplast
Private Limited's (SMPL) Long-Term Issuer Rating to the non-
cooperating category. The issuer did not participate in the
rating exercise despite continuous requests and follow-ups by the
agency. Therefore, investors and other users are advised to take
appropriate caution while using the rating. The rating will now
appear as 'IND B+ (ISSUER NOT COOPERATING)' on the agency's
website.

The instrument-wise rating actions are:

-- INR37 mil. Fund-based working capital limit migrated to Non-
     Cooperating Category with IND B+ (ISSUER NOT COOPERATING)
     /IND A4 (ISSUER NOT COOPERATING) rating;

-- INR24.65 mil. Non-fund-based working capital limit Migrated
    to Non-Cooperating Category with IND A4 (ISSUER NOT
    COOPERATING) rating; and

-- INR18.35 mil. Term loan due on September 2021 migrated to
    Non-Cooperating Category with IND B+ (ISSUER NOT COOPERATING)
     rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
March 22, 2017. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.

COMPANY PROFILE

Incorporated in 1998, SMPL manufactures plastic molded components
for furniture and complete furniture sets. The company has a
manufacturing unit in Manesar. SMPL is part of Saviton Group
promoted by Mr. P. Jaiswal.


SHANTI SHEET: CRISIL Moves B Rating to Not Cooperating Category
---------------------------------------------------------------
CRISIL has been consistently following up with Shanti Sheet Grah
Private Limited (SSGPL) for obtaining information through letters
and emails dated March 28, 2018, April 10, 2018 and April 16,
2018 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

                     Amount
   Facilities       (INR Mln)     Ratings
   ----------       ---------     -------
   Cash Credit         2.5        CRISIL B/Stable (Issuer Not
                                  Cooperating; Rating Migrated)

   Term Loan          12.0        CRISIL B/Stable (Issuer Not
                                  Cooperating; Rating Migrated)

The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING'. These ratings lack a
forward looking component as it is arrived at without any
management interaction and is based on best available or limited
or dated information on the company.

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of Shanti Sheet Grah Private
Limited. Which restricts CRISIL's ability to take a forward
looking view on the entity's credit quality. CRISIL believes
information available on Shanti Sheet Grah Private Limited is
consistent with 'Scenario 1' outlined in the 'Framework for
Assessing Consistency of Information with CRISIL BB' rating
category or lower'.

Therefore, on account of inadequate information and lack of
management cooperation, CRISIL has migrated the rating on bank
facilities of Shanti Sheet Grah Private Limited to 'CRISIL
B/Stable Issuer not cooperating'.

Incorporated in January 2015, SSGPL is setting up a greenfield
project for a cold storage facility and processing and
preservation of frozen vegetables, with an installed capacity of
60,000 quintals. The proposed storage facility, at Jalaun
district of Uttar Pradesh, may start commercial operations from
April 2017.


SHIV SHAKTI: CRISIL Moves D Rating to Not Cooperating Category
--------------------------------------------------------------
CRISIL has been consistently following up with Shiv Shakti Rice
Mills (Partnership) (SSRM) for obtaining information through
letters and emails dated March 28, 2018, April 11, 2018 and
April 16, 2018 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

                   Amount
   Facilities     (INR Mln)     Ratings
   ----------     ---------     -------
   Cash Credit       32.75      CRISIL D (Issuer Not Cooperating;
                                Rating Migrated)

   Proposed Long       .75      CRISIL D (Issuer Not Cooperating;
   Term Bank Loan               Rating Migrated)
   Facility

   Working Capital   20.00      CRISIL D (Issuer Not Cooperating;
   Demand Loan                  Rating Migrated)

The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING'. These ratings lack a
forward looking component as it is arrived at without any
management interaction and is based on best available or limited
or dated information on the company.

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of Shiv Shakti Rice
Mills(Partnership). Which restricts CRISIL's ability to take a
forward looking view on the entity's credit quality. CRISIL
believes information available on Shiv Shakti Rice
Mills(Partnership) is consistent with 'Scenario 1' outlined in
the 'Framework for Assessing Consistency of Information with
CRISIL BB' rating category or lower'.

Therefore, on account of inadequate information and lack of
management cooperation, CRISIL has migrated the rating on bank
facilities of Shiv Shakti Rice Mills(Partnership) to 'CRISIL D
Issuer not cooperating'.

Furthermore, the company has not paid the fee for conducting
rating surveillance as agreed to in the rating agreement.

SSRM was set up as a sole proprietorship firm by Mr Ashwani Kumar
in 1999. In 2009, with Mr Hari Ram Bansal and Mr Sweety Singla
also joining in, this firm was reconstituted as a partnership
concern. The firm processes basmati and non-basmati rice, and its
by-products. It is based in Lehragaga, Punjab.


SHIV SHANKAR: CRISIL Migrates B+ Rating to Not Cooperating Cat.
---------------------------------------------------------------
CRISIL has been consistently following up with Shiv Shankar Rice
Mills - Taraori (SSRM) for obtaining information through letters
and emails dated January 29, 2018, March 5, 2018, April 13, 2018
and April 18, 2018 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

                     Amount
   Facilities       (INR Mln)    Ratings
   ----------       ---------    -------
   Cash Credit           10      CRISIL B+/Stable (Issuer Not
                                 Cooperating; Rating Migrated)

The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING'. These ratings lack a
forward looking component as it is arrived at without any
management interaction and is based on best available or limited
or dated information on the company.

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of Shiv Shankar Rice Mills -
Taraori. Which restricts CRISIL's ability to take a forward
looking view on the entity's credit quality. CRISIL believes
information available on Shiv Shankar Rice Mills - Taraori is
consistent with 'Scenario 2' outlined in the 'Framework for
Assessing Consistency of Information with CRISIL BBB' rating
category or lower'.

Therefore, on account of inadequate information and lack of
management cooperation, CRISIL has migrated the rating on bank
facility of Shiv Shankar Rice Mills - Taraori to 'CRISIL
B+/Stable Issuer not cooperating'.

Established in 2003, and managed by Mr Anil Gupta and his wife Ms
Savita Gupta, SSRM is a partnership firm engaged in processing
and sale of basmati rice. The firm deals mainly in parboiled
basmati rice and long-grain parboiled basmati rice. It has
sorting and milling capacity of 6 tonne per hour and its plant in
Tarori, Haryana.


SKYHIGH HOSPITALITY: CRISIL Lowers Rating on INR10MM Loan to D
--------------------------------------------------------------
CRISIL has downgraded its rating on the long-term bank facility
of Skyhigh Hospitality Private Limited (SHPL) to 'CRISIL D' from
'CRISIL B-/Stable'.

                     Amount
   Facilities       (INR Mln)     Ratings
   ----------       ---------     -------
   Term Loan             10       CRISIL D (Downgraded from
                                  'CRISIL B-/Stable')

The downgrade reflects the company's delays in servicing term
debt because of weak liquidity.

Key Rating Drivers & Detailed Description

Weaknesses:

* Delay in debt servicing because of weak liquidity: Weak
liquidity, indicated by negative net cash accrual vis-a-vis term
debt obligation of INR1.32 crore due to average occupancy, has
led to delay in meeting term debt obligation. The company
reported cash loss of INR0.77 crore and net sales of INR3.94
crore in fiscal 2017.

* Weak financial risk profile: The financial risk profile is
constrained by adverse gearing, negative networth, and weak debt
protection metrics, and will remain weak over the medium term on
account of muted accrual driven by low room revenue and
occupancy.

Strength:

* Favorable location of hotel: SHPL's hotel is in Gurugram,
Haryana, and is close to industrial areas such as Bhiwadi in
Rajasthan and Bawal in Haryana and to the National Capital
Region, which has many large manufacturing and service-oriented
companies. SHPL is likely to benefit from its location, and
should improve occupancy and operating margin over the medium
term.

SHPL was set up in 2008 by Gurugram-based Mr Ramesh Khurana and
Mr S N Virmani. The company runs a boutique hotel, Treehouse
Queens Pearl, in Gurugram.


SUPREME VASAI: Ind-Ra Migrates 'D' LT Rating to Non-Cooperating
---------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Supreme Vasai
Bhiwandi Tollways Private Limited's (SVBTPL) senior project bank
loans to the non-cooperating category. The issuer did not
participate in the surveillance exercise despite continuous
requests and follow-ups by the agency. Therefore, investors and
other users are advised to take appropriate caution while using
the rating. The rating will now appear as 'IND D (ISSUER NOT
COOPERATING)' on the agency's website.

The instrument-wise rating action is:

-- INR1,540 bil. Bank loan (long-term) migrated to Non-
     Cooperating Category with IND D (ISSUER NOT COOPERATING)
     rating.

Note: ISSUER NOT COOPERATING: The rating was last reviewed on
March 23, 2017. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the rating.

COMPANY PROFILE

SVBTPL is a special purpose vehicle, acquired by Supreme Infra
BOT Private Limited in October 2013. Supreme Infra BOT is a 100%
subsidiary of Supreme Infrastructure India Ltd and is the holding
company of the Supreme Group for its build-operate-transfer
projects.


TOLAR OCEAN: CRISIL Withdraws B+ Rating on INR2MM Cash Loan
-----------------------------------------------------------
CRISIL has been consistently following up with Tolar Ocean
Products Private Limited (TOPL) for obtaining information through
letters and emails dated November 14, 2017, and January 17, 2018,
among others, apart from telephonic communication. However, the
issuer has remained non cooperative.

                     Amount
   Facilities       (INR Mln)     Ratings
   ----------       ---------     -------
   Cash Credit           2        CRISIL B+/Stable (Issuer Not
                                  Cooperating; Rating Withdrawn)


   Export Packing
   Credit                1.5      CRISIL B+/Stable (Issuer Not
                                  Cooperating; Rating Withdrawn)


   Long Term Loan        1.94     CRISIL B+/Stable (Issuer Not
                                  Cooperating; Rating Withdrawn)


   Packing Credit       12.5      CRISIL A4 (Issuer Not
                                  Cooperating; Rating Withdrawn)

   Loan Facility        2.06      CRISIL B+/Stable (Issuer Not
                                  Cooperating; Rating Withdrawn)

The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING'. These ratings lack a
forward looking component as they are arrived at without any
management interaction and are based on best available or limited
or dated information on the company.
Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of TOPL. This restricts CRISIL's
ability to take a forward TOPL is consistent with 'Scenario 1'
outlined in the 'Framework for Assessing Consistency of
Information with CRISIL BB rating category or lower. Based on the
last available information, the rating on bank facilities of TOPL
continues to be 'CRISIL B+/Stable/CRISIL A4 Issuer Not
Cooperating'.

CRISIL has withdrawn its ratings on the bank facilities of TOPL
on the request of the company and receipt of a no objection / due
certificate from its bank. The rating action is in line with
CRISIL's policy on withdrawal of its ratings on bank loans.

Incorporated in 1996, Udupi (Karnataka)-based TOPL processes and
exports fish. The day-to-day operations are managed by its
promoter, Mr. Prakash Tolar.


VISMIT INFRA: Ind-Ra Retains B+ Issuer Rating in Non-Cooperating
----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has maintained Vismit
Infrastructure's Long-Term Issuer Rating in the non-cooperating
category. The issuer did not participate in the surveillance
exercise, despite continuous requests and follow-ups by the
agency. Therefore, investors and other users are advised to take
appropriate caution while using these ratings. The rating will
continue to appear as 'IND B+ (ISSUER NOT COOPERATING)' on the
agency's website.

The instrument-wise rating action is:

-- INR120 mil. Term loan migrated to Non-Cooperating Category
     with IND B+ (ISSUER NOT COOPERATING) rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
April 22, 2016. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.

COMPANY PROFILE

Incorporated in 2012, Vismit is a partnership firm engaged in
residential and commercial real estate development. It is
currently constructing a five-floor commercial building in
Vadodara.


YASIN IMPEX: CRISIL Migrates B+ Rating to Not Cooperating Cat.
--------------------------------------------------------------
CRISIL has been consistently following up with Yasin Impex India
Private Limited (YIIPL) for obtaining information through letters
and emails dated March 21, 2018, April 12, 2018 and April 18,
2018 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

                     Amount
   Facilities       (INR Mln)     Ratings
   ----------       ---------     -------
   Cash Credit          7.5       CRISIL B+/Stable (Issuer Not
                                  Cooperating; Rating Migrated)

   Letter of Credit    37.5       CRISIL A4 (Issuer Not
                                  Cooperating; Rating Migrated)

The investors, lenders and all other market participants should
exercise due caution while using the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING'. These ratings lack a
forward looking component as it is arrived at without any
management interaction and is based on best available or limited
or dated information on the company.

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of Yasin Impex India Private
Limited, which restricts CRISIL's ability to take a forward
looking view on the entity's credit quality. CRISIL believes
information available on Yasin Impex India Private Limited is
consistent with 'Scenario 2' outlined in the 'Framework for
Assessing Consistency of Information with CRISIL BBB rating
category or lower'.

Therefore, on account of inadequate information and lack of
management cooperation, CRISIL has migrated the ratings on bank
facilities of Yasin Impex India Private Limited to
CRISILB+/Stable/CRISIL A4 Issuer not cooperating'.
Chennai-based YIIPL, incorporated in 2008, trades in non-coking
coal. Its operations are managed by the general manager, Mr
Mohammed Rafeek.



===============
M A L A Y S I A
===============


ALAM MARITIM: Auditors Raise Going Concern Doubt
------------------------------------------------
The Star reports that Alam Maritim said its auditors Messrs Ernst
& Young have highlighted a material uncertainty in respect of the
group's financial statements for the financial year 2017 (FY17)
that may jeopardise the group's ability to continue as a going
concern.

The material uncertainty arises from, among others, the group and
the company incurring a loss for the year of MYR145.38 million
and MYR1.97 million respectively, the Star says.

The Star relates that the auditors also highlighted two key audit
matters, namely an impairment of the group's vessels and
equipment, and the impairment of investment in associates and
joint ventures which were affected by the subdued conditions in
the oil and gas (O&G) industry.

Alam Maritim Resources Berhad is a Malaysia-based investment
holding company. The Company operates through two business
segments: Offshore support vessels and services, and Subsea
services. The Company's Offshore support vessels and services
segment is engaged in providing vessels for charter hire;
assisting seismic operators in seismic survey related activities;
transportation of crew and supplies; towing and mooring of rigs
offshore; anchor-handling services and other support, and repair
and maintenance services for the oil and gas industry. The
Company's Sub-sea services segment is engaged in providing
offshore facilities construction and installation services, such
as marine construction related services; sub-sea engineering
services and offshore pipeline construction related services, and
designing, manufacturing and operating of remotely operated
vehicles. The Company also provides transportation, ship
forwarding, and agent and ship chandelling to its subsidiaries.



====================
N E W  Z E A L A N D
====================


MANAWATU TV: Placed Into Liquidation After 51 Years in Business
---------------------------------------------------------------
Stuff.co.nz reports that a Palmerston North home audio services
business has closed after more than 50 years.

Manawatu TV and Sound Services, on south-west corner of The
Square, was put into liquidation last month, 51 years and one day
after it registered with the New Zealand Companies Office, Stuff
says.

Its doors are closed, but the liquidators haven't ruled out
reopening briefly for a closing-down sale to sell remaining
stock, according to Stuff.

James "Jim" Bulloch, who was the firm's sole shareholder and
director and a well-known figure in Palmerston North, died
suddenly in January, aged 76, says Stuff.

Stuff relates that the company trustees tried to sell the
business and received interest from at least three parties, but
its recent poor financial performance deterred any formal offers.

According to Stuff, BDO New Zealand liquidators Iain Shephard and
Jessica Kellow's first report revealed Manawatu TV and Sound
Services is NZ$777,000 in debt.

"Manawatu TV and Sound Services has a proud history of providing
home audio services to the Manawatu region for more than 50
years," the liquidator report, as cited by Stuff, said.  "In more
recent times, the changing marketplace has seen the company hive
down to a single remaining store."

According to the liquidator's report, the company's three
employees will be prioritized over unsecured creditors to receive
their redundancy and holiday pay entitlements, Stuff relays.

"The company had been trading with the financial support of the
shareholder and, as a consequence of his untimely passing, the
trustees of the estate have resolved to appoint liquidators."

At its peak, the company operated seven stores and had an annual
turnover of more than NZ$10 million. Citing a Wares New Zealand
article, Stuff discloses that Mr. Bulloch started as an
apprentice radio and TV technician in Scotland, before moving to
New Zealand in 1959.

After initial dips into the industry, Manawatu TV and Sound
Services began in 1967. In 1982, Mr. Bulloch bought the shop on
The Square, where the firm remained for the next 36 years.

The firm is not related to Manawatu Sound Service, on David St,
Palmerston North, which is open and running as normal, Stuff
notes.



=====================
P H I L I P P I N E S
=====================


GSIS FAMILY: Deposit Insurance Claims Deadline Set May 13
---------------------------------------------------------
The Philippine Deposit Insurance Corporation (PDIC) urges
depositors of the closed GSIS Family Bank (A Thrift Bank), Inc.
to file their deposit insurance claims on or before the last day
of filing claims for insured deposits on May 13, 2018 either
through mail addressed to the PDIC Public Assistance Department,
6th Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino
Street, Makati City, or personally during business hours at the
PDIC Public Assistance Center, 3rd Floor, SSS Bldg., 6782 Ayala
Avenue corner V.A. Rufino Street, Makati City.

The PDIC Charter provides that depositors have until two years
from bank closure to file their deposit insurance claims. GSIS
Family Bank was ordered closed by the Monetary Board of the
Bangko Sentral ng Pilipinas on May 13, 2016.

According to PDIC, deposit insurance claims for 358 deposit
accounts with aggregate insured deposits amounting to PHP11.3
million have yet to be filed by depositors. Data showed that as
of February 28, 2018, PDIC had paid depositors of the closed GSIS
Family Bank the total amount of PHP735.1 million, corresponding
to 98.2% of the bank's total insured deposits amounting to
PHP748.6 million.

After May 13, 2018, PDIC shall no longer accept any deposit
insurance claims from depositors of GSIS Family Bank. Their
recourse is to file claims against the assets of the closed bank
through PDIC as liquidator. Payment of claims shall depend on
available assets of the bank for distribution to creditors and
the approval of the Liquidation Court.

In filing their claims personally, depositors are required to
submit their original evidence of deposit and present one (1)
valid photo-bearing ID with signature of the depositor. It is
recommended, however, to bring at least two (2) valid IDs in case
of discrepancies in signature. Depositors may also file their
claims through mail and enclose their original evidence of
deposit and photocopy of one (1) valid photo-bearing ID with
signature together with a duly accomplished Claim Form which can
be downloaded from the PDIC website, www.pdic.gov.ph.

Depositors who are below 18 years old should submit either a
photocopy of their Birth Certificate issued by the Philippine
Statistics Authority (PSA) or a duly certified copy issued by the
Local Civil Registrar. Claimants who are not the signatories in
the bank records are required to submit an original copy of a
notarized Special Power of Attorney of the depositor or parent of
a minor depositor. The format of the Special Power of Attorney
may also be downloaded from the PDIC website.

The PDIC also reminded depositors who have been notified of their
documentary deficiencies to comply with the requirements
indicated in the letter.

The procedures and requirements for the filing of deposit
insurance claims are posted in the PDIC website, www.pdic.gov.ph.

PDIC, as Deposit Insurer, requires personal data from depositors
to be able to process their claims and protects these data in
compliance with the Data Privacy Act of 2012.


RURAL BANK OF INITAO: MB Orders Bank's Liquidation
--------------------------------------------------
The Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP)
prohibited Rural Bank of Initao (Misamis Oriental), Inc. from
doing business in the Philippines. Under Resolution No. 708.A
dated April 30, 2018, the MB directed the Philippine Deposit
Insurance Corporation (PDIC) as Receiver to proceed with the
takeover and liquidation of the bank. PDIC took over the bank on
May 2, 2018.

Rural Bank of Initao is a single-unit rural bank located in
Initao, Misamis Oriental.

Latest available records show that as of December 31, 2017, Rural
Bank of Initao had 1,476 deposit accounts with total deposit
liabilities of PHP46.4 million. Total insured deposits amounted
to PHP42.3 million equivalent to 91.1% of total deposits.

PDIC assured depositors that all valid deposits and claims shall
be paid up to the maximum deposit insurance coverage of
PHP500,000.00. Individual depositors with valid deposit accounts
with balances of PHP100,000.00 and below shall be eligible for
early payment and need not file deposit insurance claims,
provided they have no outstanding obligations with Rural Bank of
Initao or have not acted as co-makers of these obligations. These
individual depositors must ensure that they have complete and
updated addresses with the bank. They may update their addresses
until May 7, 2018 using the Mailing Address Update Forms to be
distributed by PDIC representatives at the bank premises.

For business entities and all other depositors who are required
to file claims for deposit insurance, the schedule for filing of
claims will be announced as soon as possible through posters in
the bank premises and in other public places, the PDIC website,
www.pdic.gov.ph, and PDIC's official Facebook account.

PDIC also reminded borrowers to continue paying their loan
obligations with the closed Rural Bank of Initao and to transact
only with designated PDIC representatives at the bank premises.

For more information on the requirements and procedures for
filing claims for deposit insurance and settlement of loan
obligations, all depositors and borrowers of the bank are
enjoined to attend the Depositors-Borrowers' Forum which will be
held in venues near the premises of the bank on May 10, 2018.
Details will be posted in the bank premises and in other public
places.



=================
S I N G A P O R E
=================


MIDAS HOLDINGS: Cannot Operate as Going Concern, Board Says
-----------------------------------------------------------
Andrea Soh at The Business Times reports that Midas Holdings'
board has declared that the company cannot operate as a going
concern, while the firm's auditors said separately that its
auditor reports for Midas from 2012 to 2016 can no longer be
relied upon.

The report says the manufacturer of aluminium alloy extrusion
products had received two letters of demand on March 9 and April
16, respectively, for amounts of CNY87.3 million (SGD18.29
million) and US$6.9 million.

In relation to claims in the second letter, it also received a
writ of summons from Hong Kong High Court on April 25, the report
relates.

According to BT, the company's board noted that no additional
funds can be remitted to the company given that its primary
subsidiaries are embroiled in litigations and facing claims.

The company's current cash position will not be able to satisfy
the claims made if the court should rule in the claimant's favor,
it added, BT relays.

"As such, the board, after assessing the current situation opine
that the company cannot operate as a going concern."

Separately, the company's auditors, Mazars LLPs, has sent a
letter to the firm, stating that in light of the findings in the
course of their audit work for the financial year ended Dec. 31,
2017, and recent developments in the company, the auditors'
reports it issued for the 2012-2016 financial years may no longer
be relied upon, BT reports.

Singapore-based Midas Holdings Ltd. manufactures aluminium alloy
extrusion products for the passenger rail transport, power and
other industries. The Company also designs, manufactures and
installs polyethylene pipes.



====================
S O U T H  K O R E A
====================


GM KOREA: GM to Provide Loans, State-Run Bank to Receive Shares
---------------------------------------------------------------
Reuters reports that General Motors' planned $3.6 billion cash
infusion to rescue its South Korean business will be in the form
of loans, while Korea Development Bank (KDB) will receive
preference shares for its $750 million investment in GM Korea,
two sources familiar with the matter said on May 2.

According to Reuters, the Detroit carmaker and state-run KDB
agreed late in April on $7.15 billion of investment, including a
$2.8 billion debt-for-equity swap for existing loans GM Korea
owed to its parent.

Reuters relates that the rescue package comes after GM Korea
decided against filing for bankruptcy when it won concessions on
pay, bonuses and benefits from its labor union in a tentative
deal reached last month.

GM has been struggling to turn around the debt-laden unit, which
has been hit by GM's exit from Europe, where it used to export
many of its cars, the report says.

Its Korean business has announced plans to close one of its four
South Korean plants and axe 2,600 workers.

For years GM resisted calls from South Korean officials to cut
interest rates it was charging on loans to its loss-making South
Korean unit, according to three sources and documents seen by
Reuters.

However, it is unclear whether interest rates on GM's new loans
will be lower than those on the existing debt, Reuters says.

GM Korea Co. is the South Korean unit of General Motors Co.
The U.S. automaker owns 77 percent of GM Korea while KDB owns a
17 percent stake. GM's main Chinese partner, SAIC Motor Corp,
controls the remaining 6.0 percent.


SAMSUNG BIOLOGICS: Review on Accounting Fraud to Start on May 17
----------------------------------------------------------------
Yonhap News Agency reports that South Korea's financial regulator
said on May 6 its accounting oversight panel will hold the first
meeting on Samsung Biologics Co.'s alleged violation of
accounting rules next week.

Yonhap relates that the Financial Service Commission (FSC) said
the Accounting Oversight Deliberation Committee under the
Securities & Futures Commission (SFC) will hold the meeting on
May 17 and review the issue.  The SFC, a subcommission of the
financial regulator, is responsible for the oversight of the
securities and futures markets, the report notes.

Last week, the Financial Supervisory Service (FSS) tentatively
concluded that the bio unit of Samsung Group has violated
accounting rules, adding that corrective measures and punishment
may be taken depending on the final outcome, according to Yonhap.

Yonhap says the bio firm's alleged accounting flaw boils down to
whether there were any irregularities over its dramatic business
turnaround in 2015. Samsung Biologics, listed on the local stock
market in November 2016, reported a net profit of a whopping
KRW1.9 trillion (US$1.76 billion) in 2015, shifting from a loss
in the previous four years, Yonhap discloses.

According to Yonhap, FSC Vice Chairman Kim Yong-beom, who leads
the SFC, has asked the deliberation committee to promptly review
the matter and submit the results to the SFC.

Accordingly, the financial regulator's final conclusion on the
matter could come out on May 23 or June 7 when the SFC's regular
meetings are scheduled, the report states.

The share price of Samsung Biologics nosedived 26.3 percent over
the last three trade sessions, losing a whopping KRW8.5 trillion
in terms of market cap, Yonhap adds.

Samsung BioLogics Co., Ltd. engages in the research, development,
and commercialization of biopharmaceutical products worldwide.
The company develops immunosuppressant biosimilars, such as
Enbrel under the Brenzys and Benepali brand names; and Remicade
under the Renflexis and Flixabi brands. Its products also include
antidiabetic agents, other biosimilars of immunosuppressant
drugs, and breasts cancer drugs, which are under regulatory's
deliberation stage.



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


* BOND PRICING: For the Week April 30 to May 4, 2018
----------------------------------------------------

Issuer                    Coupon    Maturity    Currency   Price
------                    ------    --------    --------   -----


  AUSTRALIA
  ---------


ARTSONIG PTY LTD            11.50    04/01/19    USD       0.06
ARTSONIG PTY LTD            11.50    04/01/19    USD       0.06
BOART LONGYEAR MANAGEME      1.50    12/31/22    USD      50.00
DBCT FINANCE PTY LTD         2.28    06/09/26    AUD      74.17
KEYBRIDGE CAPITAL LTD        7.00    07/31/20    AUD       0.94
LAKES OIL NL                10.00    05/31/18    AUD       7.25
MIDWEST VANADIUM PTY LT     11.50    02/15/18    USD       0.34
MIDWEST VANADIUM PTY LT     11.50    02/15/18    USD       0.34
QUINTIS LTD                  8.75    08/01/23    USD      70.13
QUINTIS LTD                  8.75    08/01/23    USD      70.13
QUINTIS LTD                  8.75    08/01/23    USD      70.13
TREASURY CORP OF VICTOR      0.50    11/12/30    AUD      72.31


  CHINA
  -----

AKESU XINCHENG ASSET IN      7.50    10/10/18    CNY      25.14
ALXA LEAGUE INFRASTRUCT      6.40    03/14/20    CNY      40.43
ANHUI CHIZHOU CITY TIAN      7.40    10/23/20    CNY      60.51
ANHUI SHENGYUN ENVIRONM      6.98    03/23/20    CNY      41.00
ANKANG DEVELOPMENT & IN      6.35    03/06/20    CNY      40.11
ANQING ECONOMIC&TECHNOL      6.00    06/18/20    CNY      60.22
ANQING ECONOMIC&TECHNOL      6.00    06/18/20    CNY      60.36
ANQING URBAN CONSTRUCTI      6.76    12/31/19    CNY      40.52
ANQING URBAN CONSTRUCTI      6.76    12/31/19    CNY      40.65
ANSHAN HI-TECH INDUSTRY      8.50    12/20/20    CNY      62.75
ANSHUN STATE-RUN ASSETS      6.98    01/10/20    CNY      39.97
ANSHUN STATE-RUN ASSETS      6.98    01/10/20    CNY      39.98
ANYANG INVESTMENT GROUP      8.00    04/17/19    CNY      40.48
BAICHENG ZHONGXING URBA      7.00    12/18/19    CNY      40.52
BAISHAN URBAN CONSTRUCT      7.00    07/31/19    CNY      40.07
BAIYIN CITY DEVELOPMENT      6.78    07/19/20    CNY      59.75
BAIYIN CITY DEVELOPMENT      6.78    07/19/20    CNY      60.07
BAODING NATIONAL HI-TEC      7.33    12/24/19    CNY      40.35
BAOJI INVESTMENT GROUP       7.14    12/26/18    CNY      25.22
BAOJI INVESTMENT GROUP       7.14    12/26/18    CNY      25.30
BAOSHAN STATE-OWNED ASS      7.30    12/10/19    CNY      40.20
BAOTOU STATE OWNED ASSE      7.03    09/17/19    CNY      40.49
BAYAN ZHUOER HETAO WATE      8.54    03/31/22    CNY      62.58
BAYANNUR LINHE DISTRICT      7.90    11/13/20    CNY      61.42
BAYANNUR URBAN DEVELOPM      6.40    03/15/20    CNY      40.38
BAYANNUR URBAN DEVELOPM      6.40    03/15/20    CNY      40.51
BEIJING BIOMEDICINE IND      6.35    07/23/20    CNY      60.27
BEIJING CAPITAL DEVELOP      5.95    05/29/19    CNY      40.23
BEIJING CAPITAL DEVELOP      6.50    02/27/21    CNY      60.97
BEIJING CAPITAL DEVELOP      6.50    02/27/21    CNY      61.14
BEIJING CAPITAL DEVELOP      7.19    01/15/21    CNY      61.48
BEIJING CAPITAL DEVELOP      7.19    01/15/21    CNY      61.72
BEIJING CHAOYANG STATE-      5.25    03/27/20    CNY      39.79
BEIJING CHAOYANG STATE-      5.25    03/27/20    CNY      39.96
BEIJING CONSTRUCTION EN      5.95    07/05/19    CNY      40.12
BEIJING CONSTRUCTION EN      5.95    07/05/19    CNY      40.15
BEIJING FUTURE SCIENCE       6.28    09/22/19    CNY      50.37
BEIJING GUCAI GROUP CO       8.28    12/15/18    CNY      40.73
BEIJING GUCAI GROUP CO       6.60    09/06/20    CNY      60.60
BEIJING GUCAI GROUP CO       6.60    09/06/20    CNY      60.78
BEIJING HAIDIAN STATE-O      5.50    08/07/20    CNY      59.70
BEIJING HAIDIAN STATE-O      5.50    08/07/20    CNY      59.90
BEIJING JINGMEI GROUP C      6.14    09/09/20    CNY      60.00
BEIJING JINGMEI GROUP C      6.14    09/09/20    CNY      60.32
BEIJING JINLIYUAN STATE      7.00    10/28/20    CNY      61.26
BEIJING XINGZHAN STATE       6.48    08/31/19    CNY      40.54
BENGBU URBAN INVESTMENT      6.30    09/11/20    CNY      60.67
BENGBU URBAN INVESTMENT      6.30    09/11/20    CNY      60.80
BIJIE KAIYUAN CONSTRUCT      7.78    02/25/21    CNY      49.23
BIJIE KAIYUAN CONSTRUCT      7.78    02/25/21    CNY      61.84
BIJIE XINTAI INVESTMENT      7.15    08/20/19    CNY      40.53
BIJIE XINTAI INVESTMENT      7.15    08/20/19    CNY      40.60
BINZHOU HI-TECH DEVELOP      8.60    01/10/21    CNY      62.49
BINZHOU HI-TECH DEVELOP      8.60    01/10/21    CNY      62.50
BORALA MONGOL AUTONOMOU      7.18    08/09/20    CNY      60.28
BORALA MONGOL AUTONOMOU      7.18    08/09/20    CNY      60.81
C&D REAL ESTATE CO LTD       6.15    04/03/20    CNY      40.40
CANGZHOU CONSTRUCTION &      6.72    01/23/20    CNY      40.15
CANGZHOU CONSTRUCTION &      6.72    01/23/20    CNY      40.92
CHANGDE ECONOMIC DEVELO      7.19    09/12/19    CNY      40.65
CHANGDE ECONOMIC DEVELO      7.19    09/12/19    CNY      40.76
CHANGDE ECONOMIC DEVELO      7.00    03/24/21    CNY      61.32
CHANGDE ECONOMIC DEVELO      7.00    03/24/21    CNY      61.46
CHANGDE URBAN CONSTRUCT      6.50    02/25/20    CNY      40.35
CHANGDE URBAN CONSTRUCT      6.50    02/25/20    CNY      40.71
CHANGJIZHOU STATE OWNED      6.00    06/03/19    CNY      50.22
CHANGRUN INVESTMENT HOL      6.88    09/16/20    CNY      60.60
CHANGRUN INVESTMENT HOL      6.88    09/16/20    CNY      60.70
CHANGSHA CITY CONSTRUCT      6.95    04/24/19    CNY      40.34
CHANGSHA CITY CONSTRUCT      6.95    04/24/19    CNY      40.40
CHANGSHA COUNTY XINGCHE      8.35    04/06/19    CNY      40.00
CHANGSHA COUNTY XINGCHE      8.35    04/06/19    CNY      40.58
CHANGSHA COUNTY XINGCHE      7.90    03/25/22    CNY      73.09
CHANGSHA COUNTY XINGCHE      7.90    03/25/22    CNY      73.82
CHANGSHA ECONOMIC & TEC      8.45    04/13/22    CNY      73.04
CHANGSHA LUSHAN URBAN C      7.70    02/27/21    CNY      61.33
CHANGSHA LUSHAN URBAN C      7.70    02/27/21    CNY      61.83
CHANGSHA PILOT INVESTME      6.70    12/10/19    CNY      40.50
CHANGSHA PILOT INVESTME      6.70    12/10/19    CNY      40.69
CHANGSHU BINJIANG URBAN      6.85    04/27/19    CNY      39.92
CHANGSHU BINJIANG URBAN      6.85    04/27/19    CNY      40.16
CHANGSHU CITY OPERATION      8.00    01/16/19    CNY      20.42
CHANGSHU DEVELOPMENT IN      5.80    04/19/20    CNY      60.10
CHANGSHU DEVELOPMENT IN      5.80    04/19/20    CNY      60.29
CHANGXING URBAN CONSTRU      6.80    11/30/19    CNY      40.19
CHANGXING URBAN CONSTRU      6.80    11/30/19    CNY      40.34
CHANGYI ECONOMIC AND DE      7.35    10/30/20    CNY      55.37
CHANGYI ECONOMIC AND DE      7.35    10/30/20    CNY      55.85
CHANGZHI CITY CONSTRUCT      6.46    02/26/20    CNY      40.35
CHANGZHOU BINHU CONSTRU      8.04    12/12/20    CNY      62.36
CHANGZHOU BINHU CONSTRU      8.04    12/12/20    CNY      63.75
CHANGZHOU HI-TECH GROUP      6.18    03/21/20    CNY      40.41
CHANGZHOU HI-TECH GROUP      6.18    03/21/20    CNY      40.46
CHANGZHOU JINTAN DISTRI      8.30    03/14/19    CNY      20.46
CHANGZHOU JINTAN DISTRI      6.38    04/26/20    CNY      60.28
CHANGZHOU WUJIN CITY CO      6.22    06/08/18    CNY      25.05
CHAOHU URBAN TOWN CONST      7.00    12/24/19    CNY      40.12
CHAOHU URBAN TOWN CONST      7.00    12/24/19    CNY      40.39
CHAOYANG CONSTRUCTION I      7.30    05/25/19    CNY      40.18
CHAOYANG CONSTRUCTION I      7.30    05/25/19    CNY      40.62
CHEN ZHOU GAO KE ASSET       7.25    10/21/20    CNY      61.11
CHENGDU CITY DEVELOPMEN      6.18    01/14/20    CNY      40.46
CHENGDU CITY DEVELOPMEN      6.18    01/14/20    CNY      40.51
CHENGDU ECONOMIC&TECHNO      6.50    07/17/18    CNY      25.07
CHENGDU ECONOMIC&TECHNO      6.50    07/17/18    CNY      26.00
CHENGDU ECONOMIC&TECHNO      6.55    07/17/19    CNY      40.20
CHENGDU ECONOMIC&TECHNO      6.55    07/17/19    CNY      40.30
CHENGDU HI-TECH INVESTM      6.28    11/20/19    CNY      40.42
CHENGDU PIDU DISTRICT S      7.25    10/15/20    CNY      60.95
CHENGDU PIDU DISTRICT S      7.25    10/15/20    CNY      61.26
CHENGDU XINCHENG XICHEN      8.35    03/19/19    CNY      20.41
CHENGDU XINDU XIANGCHEN      8.60    12/13/18    CNY      40.80
CHENGDU XINGCHENG INVES      6.17    01/28/20    CNY      40.28
CHENGDU XINGCHENG INVES      6.17    01/28/20    CNY      40.35
CHENGDU XINGJIN URBAN C      7.30    11/27/19    CNY      40.66
CHENGDU XINGJIN URBAN C      7.30    11/27/19    CNY      40.76
CHENZHOU DEVELOPMENT IN      7.34    09/13/19    CNY      40.20
CHENZHOU DEVELOPMENT IN      7.34    09/13/19    CNY      40.69
CHENZHOU XINTIAN INVEST      6.30    07/17/20    CNY      60.10
CHIFENG CITY HONGSHAN I      7.20    07/25/19    CNY      40.22
CHINA GOVERNMENT BOND        1.64    12/15/33    CNY      73.17
CHINA RAILWAY CORP           3.40    10/27/46    CNY      74.11
CHINA SECURITY & FIRE C      4.45    11/11/19    CNY      67.22
CHINA YIXING ENVIRONMEN      7.10    10/18/20    CNY      60.81
CHIZHOU CITY MANAGEMENT      7.17    10/17/19    CNY      40.46
CHIZHOU CITY MANAGEMENT      7.17    10/17/19    CNY      40.60
CHONGQING BEICHENG CONS      7.30    10/16/20    CNY      60.73
CHONGQING BEIFEI INDUST      7.13    12/25/19    CNY      40.63
CHONGQING CHANGSHOU DEV      7.45    09/25/19    CNY      40.24
CHONGQING CHANGSHOU DEV      7.45    09/25/19    CNY      40.67
CHONGQING CITY CONSTRUC      5.12    05/21/20    CNY      59.79
CHONGQING CITY CONSTRUC      5.12    05/21/20    CNY      59.80
CHONGQING DASUN ASSET D      6.98    09/10/20    CNY      60.59
CHONGQING DAZU DISTRICT      6.75    04/26/20    CNY      60.55
CHONGQING DAZU DISTRICT      6.75    04/26/20    CNY      60.65
CHONGQING FULING DISTRI      8.40    03/23/19    CNY      40.52
CHONGQING FULING DISTRI      8.40    03/23/19    CNY      40.92
CHONGQING FULING DISTRI      7.89    03/20/21    CNY      61.58
CHONGQING FULING DISTRI      7.89    03/20/21    CNY      62.25
CHONGQING FULING STATE-      6.39    01/21/20    CNY      40.17
CHONGQING FULING STATE-      6.39    01/21/20    CNY      40.40
CHONGQING HAOJIANG CONS      7.99    11/22/20    CNY      61.47
CHONGQING HAOJIANG CONS      7.99    11/22/20    CNY      61.47
CHONGQING HAOJIANG CONS      8.05    03/06/21    CNY      61.57
CHONGQING HAOJIANG CONS      8.05    03/06/21    CNY      61.70
CHONGQING HECHUAN INDUS      6.19    06/17/20    CNY      60.26
CHONGQING HECHUAN INDUS      6.19    06/17/20    CNY      60.32
CHONGQING HECHUAN RURAL      8.28    04/10/18    CNY      24.99
CHONGQING HONGRONG CAPI      7.20    10/16/19    CNY      40.63
CHONGQING HONGYE INDUST      6.30    06/03/20    CNY      60.27
CHONGQING HONGYE INDUST      6.30    06/03/20    CNY      60.77
CHONGQING JIANGJIN HUAX      7.46    09/21/19    CNY      40.63
CHONGQING JIANGJIN HUAX      7.46    09/21/19    CNY      40.66
CHONGQING JINYUN ASSET       6.75    06/18/19    CNY      40.09
CHONGQING LAND PROPERTI      7.35    04/25/19    CNY      40.10
CHONGQING LAND PROPERTI      7.35    04/25/19    CNY      40.56
CHONGQING LAND PROPERTI      6.30    08/22/20    CNY      60.70
CHONGQING LAND PROPERTI      6.30    08/22/20    CNY      61.05
CHONGQING MAIRUI CITY I      6.82    08/17/19    CNY      40.41
CHONGQING NAN'AN URBAN       8.20    04/09/19    CNY      40.47
CHONGQING NANCHUAN DIST      7.35    09/06/19    CNY      40.44
CHONGQING NANCHUAN DIST      7.35    09/06/19    CNY      40.45
CHONGQING NANFA URBAN C      6.43    04/27/20    CNY      60.20
CHONGQING NANFA URBAN C      6.43    04/27/20    CNY      60.23
CHONGQING QIANJIANG CIT      8.40    03/23/19    CNY      40.86
CHONGQING QIANJIANG CIT      8.40    03/23/19    CNY      41.00
CHONGQING QIANJIANG CIT      8.00    03/21/21    CNY      61.71
CHONGQING QIANJIANG CIT      8.00    03/21/21    CNY      82.45
CHONGQING QIJIANG EAST       6.75    01/29/20    CNY      40.41
CHONGQING SHUANGFU CONS      7.49    10/23/20    CNY      60.99
CHONGQING SHUANGFU CONS      7.49    10/23/20    CNY      61.33
CHONGQING SHUANGQIAO EC      6.75    04/26/20    CNY      60.22
CHONGQING SHUANGQIAO EC      6.75    04/26/20    CNY      60.30
CHONGQING THREE GORGES       6.40    01/23/19    CNY      24.80
CHONGQING THREE GORGES       6.40    01/23/19    CNY      25.15
CHONGQING WANSHENG ECO       6.39    04/17/20    CNY      60.28
CHONGQING WANSHENG ECO       6.39    04/17/20    CNY      60.39
CHONGQING WESTERN MODER      7.08    10/18/20    CNY      60.75
CHONGQING WESTERN MODER      7.08    10/18/20    CNY      61.06
CHONGQING XINGRONG HOLD      8.35    04/19/19    CNY      40.54
CHONGQING XIYONG MICRO-      6.76    07/25/19    CNY      40.42
CHONGQING YONGCHUAN HUI      7.33    10/16/19    CNY      40.54
CHONGQING YONGCHUAN HUI      7.33    10/16/19    CNY      41.00
CHONGQING YUFU ASSET MA      6.50    09/04/19    CNY      40.00
CHONGQING YUFU HOLDING       6.50    09/04/19    CNY      40.39
CHONGQING YULONG ASSET       6.87    05/31/19    CNY      40.44
CHONGQING YUXING CONSTR      7.30    12/10/19    CNY      39.52
CHONGQING YUXING CONSTR      7.30    12/10/19    CNY      40.62
CHONGQING YUZHONG STATE      7.25    02/26/21    CNY      61.16
CHUXIONG AUTONOMOUS DEV      6.60    03/29/20    CNY      39.51
CHUZHOU CITY CONSTRUCTI      6.81    11/23/19    CNY      40.48
CHUZHOU CITY CONSTRUCTI      6.81    11/23/19    CNY      40.55
CHUZHOU TONGCHUANG CONS      7.05    01/09/20    CNY      40.86
CHUZHOU TONGCHUANG CONS      7.05    01/09/20    CNY      60.00
CIXI STATE OWNED ASSET       6.60    09/20/19    CNY      40.36
CIXI STATE OWNED ASSET       6.60    09/20/19    CNY      40.41
DALI ECONOMIC DEVELOPME      8.80    04/24/19    CNY      40.59
DALI ECONOMIC DEVELOPME      7.90    03/04/21    CNY      61.95
DALI ECONOMIC DEVELOPME      7.90    03/04/21    CNY      62.04
DALI ECONOMIC DEVELOPME      8.30    12/11/20    CNY      62.13
DALI ECONOMIC DEVELOPME      8.30    12/11/20    CNY      62.49
DALIAN CHANGXING ISLAND      6.60    01/25/20    CNY      41.00
DALIAN CHANGXING ISLAND      6.60    01/25/20    CNY      41.60
DALIAN DETA INVESTMENT       6.50    11/15/19    CNY      40.56
DALIAN LVSHUN CONSTRUCT      6.78    07/02/19    CNY      40.16
DALIAN LVTAI INVESTMENT      7.00    08/08/21    CNY      66.04
DALIAN PUWAN ENGINEERIN      7.09    02/20/21    CNY      59.97
DALIAN PUWAN ENGINEERIN      7.09    02/20/21    CNY      89.00
DALIAN RONGQIANG INVEST      8.60    03/30/19    CNY      41.05
DALIAN RONGQIANG INVEST      8.60    01/20/21    CNY      62.00
DALIAN RONGQIANG INVEST      8.60    01/20/21    CNY      62.36
DALIAN SHUNXING INVESTM      6.97    10/18/20    CNY      61.10
DALIAN SHUNXING INVESTM      6.97    10/18/20    CNY      61.81
DANDONG CITY DEVELOPMEN      8.00    12/21/18    CNY      40.56
DANYANG INVESTMENT GROU      8.10    03/06/19    CNY      20.45
DANYANG INVESTMENT GROU      8.10    03/06/19    CNY      20.45
DANYANG INVESTMENT GROU      6.81    10/23/19    CNY      50.15
DANYANG INVESTMENT GROU      6.81    10/23/19    CNY      50.70
DANYANG INVESTMENT GROU      6.90    10/23/20    CNY      60.93
DAQING GAOXIN STATE-OWN      6.88    12/05/19    CNY      39.99
DAQING GAOXIN STATE-OWN      6.88    12/05/19    CNY      40.37
DAQING URBAN CONSTRUCTI      6.55    10/23/19    CNY      40.00
DAQING URBAN CONSTRUCTI      6.55    10/23/19    CNY      40.26
DAQING URBAN CONSTRUCTI      7.10    03/05/21    CNY      60.50
DAQING URBAN CONSTRUCTI      7.10    03/05/21    CNY      60.88
DASHIQIAO URBAN CONSTRU      6.58    02/21/20    CNY      40.18
DASHIQIAO URBAN CONSTRU      6.58    02/21/20    CNY      60.33
DAYE CITY CONSTRUCTION       7.30    03/03/21    CNY      61.18
DAYE CITY CONSTRUCTION       7.30    03/03/21    CNY      61.26
DAYE CITY CONSTRUCTION       7.95    11/27/20    CNY      61.88
DAZHOU INVESTMENT CO LT      6.99    12/25/19    CNY      40.64
DAZHOU INVESTMENT CO LT      6.99    12/25/19    CNY      40.64
DEYANG CITY CONSTRUCTIO      6.99    12/26/19    CNY      40.45
DEYANG CITY CONSTRUCTIO      6.99    12/26/19    CNY      40.51
DEZHOU DEDA URBAN CONST      7.14    10/18/19    CNY      40.82
DONGTAI COMMUNICATION I      7.39    07/05/18    CNY      25.00
DONGTAI COMMUNICATION I      7.39    07/05/18    CNY      25.08
DONGTAI UBAN CONSTRUCTI      7.10    12/26/19    CNY      40.66
DONGTAI UBAN CONSTRUCTI      7.10    12/26/19    CNY      60.00
DONGTAI UBAN CONSTRUCTI      8.65    01/13/21    CNY      62.90
DONGYING CITY URBAN ASS      6.75    04/20/18    CNY      34.90
ENSHI URBAN CONSTRUCTIO      7.55    10/22/19    CNY      40.77
EZHOU CITY CONSTRUCTION      7.08    06/19/19    CNY      40.37
FEICHENG CITY ASSETS MA      7.10    08/14/18    CNY      25.08
FENGCHENG CITY CONSTRUC      7.50    02/28/21    CNY      61.74
FENGCHENG CITY CONSTRUC      7.50    02/28/21    CNY      61.95
FENGCHENG CITY CONSTRUC      8.65    01/14/21    CNY      62.09
FENGCHENG CITY CONSTRUC      8.65    01/14/21    CNY      81.50
FENGHUA CITY INVESTMENT      7.45    09/24/19    CNY      40.57
FUGU COUNTY STATE-OWNED      8.69    12/16/20    CNY      62.02
FUGU COUNTY STATE-OWNED      8.69    12/16/20    CNY      68.00
FUJIAN JINJIANG URBAN C      6.35    04/26/20    CNY      60.57
FUJIAN LONGYAN CITY CON      7.45    08/14/19    CNY      40.70
FUJIAN LONGYAN CITY CON      7.45    03/04/21    CNY      61.62
FUJIAN NANPING HIGHWAY       6.69    01/28/20    CNY      40.46
FUJIAN NANPING HIGHWAY       7.90    10/26/18    CNY      40.48
FUQING CITY STATE-OWNED      6.66    03/01/21    CNY      55.22
FUSHUN URBAN INVESTMENT      5.95    05/11/18    CNY      40.00
FUSHUN URBAN INVESTMENT      8.53    03/22/22    CNY      63.17
FUSHUN URBAN INVESTMENT      8.53    03/22/22    CNY      63.75
FUXIN INFRASTRUCTURE CO      7.55    10/10/19    CNY      40.55
FUXIN INFRASTRUCTURE CO      7.55    10/10/19    CNY      41.00
FUYANG CONSTRUCTION INV      7.60    03/13/21    CNY      61.68
FUYANG CONSTRUCTION INV      7.65    03/21/21    CNY      61.82
FUYANG CONSTRUCTION INV      7.65    03/21/21    CNY      62.06
FUYANG CONSTRUCTION INV      7.60    03/13/21    CNY      62.07
FUZHOU INVESTMENT DEVEL      6.78    01/16/20    CNY      40.58
FUZHOU JIANGONG GROUP C      6.80    12/10/19    CNY      70.90
FUZHOU URBAN AND RURAL       6.35    09/25/18    CNY      25.13
GANSU PROVINCIAL HIGHWA      6.75    11/16/18    CNY      20.22
GANSU PROVINCIAL HIGHWA      7.20    09/19/18    CNY      40.38
GANSU PROVINCIAL STATE-      5.40    03/06/20    CNY      69.78
GANSU PROVINCIAL STATE-      5.40    03/06/20    CNY      70.17
GANZHOU CITY DEVELOPMEN      6.40    07/10/18    CNY      25.07
GANZHOU DEVELOPMENT ZON      6.70    12/26/18    CNY      25.16
GANZHOU DEVELOPMENT ZON      6.70    12/26/18    CNY      25.26
GANZHOU DEVELOPMENT ZON      7.40    02/19/20    CNY      51.04
GANZHOU DEVELOPMENT ZON      7.40    02/19/20    CNY      51.15
GANZHOU DEVELOPMENT ZON      8.15    12/31/19    CNY      51.49
GANZHOU DEVELOPMENT ZON      8.15    12/31/19    CNY      51.65
GANZHOU DEVELOPMENT ZON      7.43    02/19/21    CNY      61.63
GANZHOU DEVELOPMENT ZON      7.43    02/19/21    CNY      61.81
GAOMI STATE-OWNED ASSET      6.75    11/15/18    CNY      25.15
GAOMI STATE-OWNED ASSET      6.75    11/15/18    CNY      25.15
GAOMI STATE-OWNED ASSET      6.70    11/15/19    CNY      40.42
GAOMI STATE-OWNED ASSET      6.70    11/15/19    CNY      40.47
GOLMUD INVESTMENT HOLDI      8.70    12/30/20    CNY      61.35
GOLMUD INVESTMENT HOLDI      8.70    12/30/20    CNY      61.70
GUANG ZHOU PANYU COMMUN      6.30    04/12/19    CNY      50.06
GUANG ZHOU PANYU COMMUN      6.30    04/12/19    CNY      50.10
GUANGAN INVESTMENT HOLD      8.18    04/25/19    CNY      40.30
GUANGAN INVESTMENT HOLD      8.18    04/25/19    CNY      40.56
GUANGXI BAISE DEVELOPME      6.50    07/04/19    CNY      40.27
GUANGXI BAISE DEVELOPME      6.50    07/04/19    CNY      40.27
GUANGXI LAIBIN URBAN CO      8.36    03/14/19    CNY      40.90
GUANGXI LAIBIN URBAN CO      8.36    03/14/19    CNY      41.08
GUANGXI QINZHOU LINHAI       7.68    02/20/21    CNY      61.98
GUANGXI QINZHOU LINHAI       7.68    02/20/21    CNY      62.13
GUANGYUAN INVESTMENT HO      7.25    11/26/19    CNY      40.53
GUANGZHOU DEVELOPMENT Z      6.70    08/14/22    CNY      71.96
GUILIN ECONOMIC CONSTRU      6.90    05/09/18    CNY      25.04
GUILIN ECONOMIC CONSTRU      6.90    05/09/18    CNY      25.05
GUIYANG HI-TECH HOLDING      6.01    12/01/19    CNY      50.05
GUIYANG JINYANG CONSTRU      6.70    10/24/18    CNY      25.16
GUIYANG JINYANG CONSTRU      6.70    10/24/18    CNY      25.19
GUIYANG PUBLIC HOUSING       6.70    11/06/19    CNY      40.41
GUIYANG PUBLIC HOUSING       6.70    11/06/19    CNY      40.61
GUIYANG URBAN DEVELOPME      6.20    02/28/20    CNY      40.17
GUIZHOU KAILI CITY CONS      7.80    02/21/21    CNY      61.60
GUIZHOU KAILI CITY CONS      8.30    12/12/20    CNY      62.20
GUIZHOU KAILI CITY CONS      8.30    12/12/20    CNY      62.62
GUOAO INVESTMENT DEVELO      6.89    10/29/18    CNY      25.21
GUOAO INVESTMENT DEVELO      6.89    10/29/18    CNY      25.21
HAIAN COUNTY CITY CONST      7.45    03/04/21    CNY      61.23
HAIAN COUNTY CITY CONST      7.45    03/04/21    CNY      61.83
HAIAN COUNTY DEVELOPMEN      7.40    02/21/20    CNY      50.68
HAIAN COUNTY DEVELOPMEN      7.40    02/21/20    CNY      51.04
HAIAN COUNTY DEVELOPMEN      7.49    02/21/21    CNY      61.12
HAIAN COUNTY DEVELOPMEN      7.49    02/21/21    CNY      61.80
HAICHENG URBAN INVESTME      8.39    11/07/18    CNY      40.59
HAICHENG URBAN JINCAI L      8.56    12/19/20    CNY      61.09
HAILAR DISTRICT URBAN I      6.20    05/14/20    CNY      60.11
HAIMEN CITY DEVELOPMENT      8.35    03/20/19    CNY      20.83
HAIMEN COMMUNICATION IN      8.00    03/18/21    CNY      62.84
HAINAN HARBOR & SHIPPIN      6.80    10/18/19    CNY      70.58
HAINAN HARBOR & SHIPPIN      6.80    10/18/19    CNY      70.60
HAINING CITY JIANSHAN D      6.90    11/04/20    CNY      61.30
HAINING CITY JIANSHAN D      6.90    11/04/20    CNY      61.42
HAINING STATE-OWNED ASS      6.08    03/06/20    CNY      39.60
HAINING STATE-OWNED ASS      6.08    03/06/20    CNY      40.00
HAINING STATE-OWNED ASS      7.80    09/20/18    CNY      40.46
HAINING STATE-OWNED ASS      7.80    09/20/18    CNY      40.46
HAIXI STATE DEVELOPMENT      8.60    01/02/21    CNY      62.14
HAIXI STATE DEVELOPMENT      8.60    01/02/21    CNY      62.85
HAIYAN COUNTY STATE-OWN      7.00    09/04/20    CNY      61.08
HAIYAN COUNTY STATE-OWN      7.00    09/04/20    CNY      61.16
HANDAN CITY DEVELOPMENT      7.05    12/24/19    CNY      40.79
HANDAN CITY DEVELOPMENT      7.05    12/24/19    CNY      42.00
HANDAN CITY DEVELOPMENT      7.60    11/25/20    CNY      62.02
HANGZHOU CANAL COMPREHE      6.00    04/02/20    CNY      39.80
HANGZHOU CANAL COMPREHE      6.00    04/02/20    CNY      40.33
HANGZHOU FUYANG CITY CO      7.10    02/26/21    CNY      61.45
HANGZHOU FUYANG CITY CO      7.10    02/26/21    CNY      61.58
HANGZHOU FUYANG CITY CO      7.20    03/19/21    CNY      61.72
HANGZHOU FUYANG CITY CO      7.20    03/19/21    CNY      61.79
HANGZHOU HIGH-TECH INDU      6.45    01/28/20    CNY      40.48
HANGZHOU HIGH-TECH INDU      6.45    01/28/20    CNY      40.52
HANGZHOU MUNICIPAL CONS      5.90    04/25/18    CNY      24.90
HANGZHOU MUNICIPAL CONS      5.90    04/25/18    CNY      24.96
HANGZHOU XIAOSHAN ECO&T      6.70    12/26/18    CNY      25.22
HANGZHOU YUHANG CITY CO      7.55    03/29/19    CNY      20.41
HANGZHOU YUHANG CITY CO      7.55    03/29/19    CNY      20.44
HANGZHOU YUHANG CITY CO      7.00    03/03/21    CNY      61.72
HANGZHOU YUHANG ECONOMI      7.45    03/03/21    CNY      61.09
HANGZHOU YUHANG ECONOMI      7.45    03/03/21    CNY      63.49
HANGZHOU YUHANG INNOVAT      6.50    03/18/20    CNY      40.38
HANGZHOU YUHANG INNOVAT      6.50    03/18/20    CNY      40.58
HANJIANG STATE-OWNED-AS      8.12    01/12/19    CNY      20.42
HANJIANG STATE-OWNED-AS      8.12    01/12/19    CNY      40.50
HANJIANG STATE-OWNED-AS      7.30    11/11/20    CNY      61.42
HANJIANG STATE-OWNED-AS      7.30    11/11/20    CNY      61.85
HARBIN HELI INVESTMENT       7.48    09/26/18    CNY      40.25
HARBIN HELI INVESTMENT       7.48    09/26/18    CNY      40.37
HARBIN HIGH-TECH INDUST      7.00    09/16/20    CNY      61.67
HARBIN HIGH-TECH INDUST      7.00    09/16/20    CNY      61.84
HARBIN WATER INVESTMENT      5.70    05/06/20    CNY      60.50
HARBIN WATER INVESTMENT      5.70    05/06/20    CNY      60.65
HEBEI SHUNDE INVESTMENT      6.98    12/05/19    CNY      40.61
HEBEI SHUNDE INVESTMENT      6.98    12/05/19    CNY      41.94
HECHI CITY CONSTRUCTION      8.50    12/18/20    CNY      62.16
HECHI CITY CONSTRUCTION      8.50    12/18/20    CNY      62.22
HEFEI BINHU NEW ZONE CO      6.35    06/13/19    CNY      70.52
HEFEI CONSTRUCTION INVE      6.60    08/28/18    CNY      40.00
HEFEI GAOXIN DEVELOPMEN      7.98    03/22/19    CNY      40.86
HEFEI GAOXIN DEVELOPMEN      7.98    03/22/19    CNY      40.97
HEFEI HAIHENG INVESTMEN      7.30    06/12/19    CNY      40.50
HEFEI INDUSTRIAL INVEST      6.30    03/20/20    CNY      40.42
HEFEI NEW & HIGH TECHNO      6.90    03/12/20    CNY      71.26
HEFEI TAOHUA INDUSTRIAL      8.79    03/27/19    CNY      20.54
HEFEI XINCHENG STATE-OW      7.88    04/23/19    CNY      40.45
HEGANG KAIYUAN CITY INV      6.50    07/19/19    CNY      40.17
HEIHE CITY CONSTRUCTION      8.48    03/23/19    CNY      41.03
HEILONGJIANG HECHENG CO      7.05    06/21/22    CNY      70.00
HEILONGJIANG POST-DISAS      7.06    11/20/20    CNY      74.75
HENAN JIYUAN CITY CONST      7.50    09/25/19    CNY      40.65
HENGYANG CITY CONSTRUCT      7.06    08/13/19    CNY      40.47
HENGYANG CITY CONSTRUCT      7.06    08/13/19    CNY      40.50
HENGYANG HONGXIANG STAT      6.20    06/19/20    CNY      60.36
HENGYANG HONGXIANG STAT      6.20    06/19/20    CNY      60.55
HEYUAN CITY URBAN DEVEL      6.55    03/19/20    CNY      40.31
HEYUAN CITY URBAN DEVEL      6.55    03/19/20    CNY      40.60
HEZE INVESTMENT DEVELOP      7.14    03/24/21    CNY      61.57
HONGHEZHOU ROAD DEVELOP      6.27    05/06/20    CNY      60.25
HUAIAN CITY URBAN ASSET      6.87    12/26/19    CNY      40.64
HUAIAN CITY URBAN ASSET      6.87    12/26/19    CNY      40.75
HUAIAN CITY WATER HOLDI      8.25    03/08/19    CNY      20.55
HUAI'AN DEVELOPMENT HOL      7.20    09/06/19    CNY      40.36
HUAI'AN DEVELOPMENT HOL      7.20    09/06/19    CNY      41.06
HUAI'AN DEVELOPMENT HOL      7.30    03/10/21    CNY      61.30
HUAI'AN DEVELOPMENT HOL      7.30    03/10/21    CNY      61.44
HUAIAN NEW CITY INVESTM      7.45    03/04/21    CNY      61.42
HUAIAN NEW CITY INVESTM      7.45    03/04/21    CNY      61.91
HUAIAN QINGHE NEW AREA       6.68    01/24/20    CNY      40.18
HUAIAN QINGHE NEW AREA       6.68    01/24/20    CNY      40.34
HUAIBEI CITY CONSTRUCTI      6.68    12/17/18    CNY      25.08
HUAIBEI CITY CONSTRUCTI      6.68    12/17/18    CNY      25.40
HUAIHUA CITY INDUSTRIAL      7.70    10/29/20    CNY      61.00
HUANGGANG CITY CONSTRUC      7.10    10/19/19    CNY      40.54
HUANGGANG CITY CONSTRUC      7.45    03/04/21    CNY      61.65
HUANGGANG CITY CONSTRUC      7.45    03/04/21    CNY      61.80
HUANGGANG CITY CONSTRUC      8.60    12/25/20    CNY      62.84
HUANGGANG CITY CONSTRUC      8.60    12/25/20    CNY      63.50
HUANGSHI CIHU HIGH-TECH      8.70    12/05/20    CNY      62.12
HUANGSHI CIHU HIGH-TECH      9.30    01/21/21    CNY      63.08
HUANGSHI URBAN CONSTRUC      6.96    10/25/19    CNY      40.58
HUBEI QUANZHOU YANGTZE       6.50    04/02/20    CNY      70.11
HUIAN STATE ASSETS INVE      7.50    10/15/19    CNY      40.52
HUIAN STATE ASSETS INVE      7.50    10/15/19    CNY      40.61
HULUDAO INVESTMENT GROU      7.05    10/18/20    CNY      60.52
HULUDAO INVESTMENT GROU      7.05    10/18/20    CNY      60.58
HUNAN CHANGDE DEYUAN IN      7.18    10/18/18    CNY      25.17
HUNAN CHENGLINGJI HARBO      7.70    10/15/18    CNY      25.21
HUNAN CHENGLINGJI HARBO      7.70    10/15/18    CNY      25.23
HUNAN TIER GROUP CO LTD      7.10    03/03/21    CNY      61.49
HUNAN TIER GROUP CO LTD      8.00    12/23/20    CNY      62.42
HUNAN TIER GROUP CO LTD      7.10    03/03/21    CNY      80.00
HUNAN TIER GROUP CO LTD      8.00    12/23/20    CNY      85.00
HUNAN XIANGJIANG NEW AR      7.36    03/17/21    CNY      61.74
HUNAN XIANGJIANG NEW AR      7.36    03/17/21    CNY      62.12
HUNAN ZHAOSHAN ECONOMIC      7.00    12/12/18    CNY      25.15
HUNAN ZHAOSHAN ECONOMIC      7.00    12/12/18    CNY      25.19
HUZHOU CITY INVESTMENT       6.70    12/14/19    CNY      40.63
HUZHOU NANXUN STATE-OWN      8.15    03/31/19    CNY      20.45
HUZHOU WUXING NANTAIHU       8.79    01/16/21    CNY      62.27
INNER MONGLIA SHENG MU       4.48    12/28/20    CNY      55.00
INNER MONGOLIA HIGH-TEC      7.20    09/25/19    CNY      40.43
INNER MONGOLIA HIGH-TEC      7.20    09/25/19    CNY      40.50
INNER MONGOLIA KE'ERQIN      7.75    09/24/19    CNY      40.55
INNER MONGOLIA ZHUNGEER      6.94    05/10/18    CNY      50.02
JIAMUSI NEW ERA INFRAST      8.25    03/22/19    CNY      20.27
JIAMUSI NEW ERA INFRAST      7.90    02/26/21    CNY      61.37
JIAMUSI NEW ERA INFRAST      7.90    02/26/21    CNY      61.79
JIAN CITY CONSTRUCTION       7.80    04/20/19    CNY      40.40
JIAN CITY CONSTRUCTION       7.80    04/20/19    CNY      40.46
JIANAN INVESTMENT HOLDI      7.68    09/04/19    CNY      40.70
JIANAN INVESTMENT HOLDI      7.68    09/04/19    CNY      40.71
JIANGDONG HOLDING GROUP      6.90    03/27/19    CNY      20.28
JIANGMEN CITY BINJIANG       6.60    02/28/20    CNY      38.06
JIANGMEN CITY BINJIANG       6.60    02/28/20    CNY      40.31
JIANGMEN NEW HI-TECH IN      7.39    11/04/20    CNY      61.36
JIANGSU FURUDONGHAI DEV      7.09    09/13/20    CNY      60.87
JIANGSU FURUDONGHAI DEV      7.09    09/13/20    CNY      60.88
JIANGSU HANRUI INVESTME      8.16    03/01/19    CNY      20.32
JIANGSU HUAJING ASSETS       6.00    05/16/20    CNY      59.91
JIANGSU JINGUAN INVESTM      6.40    01/28/19    CNY      25.03
JIANGSU JURONG FUDI BIO      8.70    04/26/19    CNY      70.84
JIANGSU LIANYUN DEVELOP      6.10    06/19/19    CNY      39.69
JIANGSU LIANYUN DEVELOP      6.10    06/19/19    CNY      40.04
JIANGSU NEWHEADLINE DEV      7.00    08/27/20    CNY      55.66
JIANGSU NEWHEADLINE DEV      7.00    08/27/20    CNY      55.72
JIANGSU SUHAI INVESTMEN      7.20    11/07/19    CNY      40.40
JIANGSU SUHAI INVESTMEN      7.20    11/07/19    CNY      40.40
JIANGSU TAICANG PORT DE      7.66    05/16/19    CNY      40.47
JIANGSU WUZHONG ECONOMI      8.05    12/16/18    CNY      40.71
JIANGSU WUZHONG ECONOMI      8.05    12/16/18    CNY      40.71
JIANGSU XISHAN ECONOMIC      6.99    11/01/19    CNY      40.48
JIANGSU XISHAN ECONOMIC      6.99    11/01/19    CNY      40.56
JIANGSU ZHANGJIAGANG EC      6.98    11/16/19    CNY      40.48
JIANGXI HEJI INVESTMENT      8.00    09/04/19    CNY      40.60
JIANGXI HEJI INVESTMENT      8.00    09/04/19    CNY      40.66
JIANGYIN CITY CONSTRUCT      7.20    06/11/19    CNY      40.39
JIANGYIN CITY CONSTRUCT      7.20    06/11/19    CNY      40.40
JIANGYIN GAOXIN DISTRIC      6.60    02/27/20    CNY      40.51
JIANGYIN GAOXIN DISTRIC      7.31    04/25/18    CNY      50.01
JIANGYIN LINGANG NEW CI      7.10    11/07/20    CNY      60.65
JIANGYIN LINGANG NEW CI      7.10    11/07/20    CNY      61.62
JIANHU URBAN CONSTRUCTI      6.50    02/22/20    CNY      39.93
JIANHU URBAN CONSTRUCTI      6.50    02/22/20    CNY      40.90
JIASHAN STATE-OWNED ASS      6.80    06/06/19    CNY      40.36
JIAXING CITY CULTURE MI      8.16    03/08/19    CNY      20.52
JIAXING CITY NANHU NEW       7.45    02/26/21    CNY      61.37
JIAXING ECONOMIC&TECHNO      6.78    06/14/19    CNY      40.18
JIAXING ECONOMIC&TECHNO      6.78    06/14/19    CNY      40.20
JIAXING ECONOMIC&TECHNO      7.89    03/05/21    CNY      61.56
JIAXING ECONOMIC&TECHNO      7.89    03/05/21    CNY      61.96
JILIN CITY CONSTRUCTION      6.34    02/26/20    CNY      40.01
JILIN CITY CONSTRUCTION      6.34    02/26/20    CNY      40.12
JILIN RAILWAY INVESTMEN      7.18    03/04/21    CNY      60.35
JILIN RAILWAY INVESTMEN      7.18    03/04/21    CNY      61.55
JILIN RAILWAY INVESTMEN      6.63    06/26/19    CNY      70.24
JIMO CITY URBAN DEVELOP      8.10    12/17/19    CNY      50.50
JIMO CITY URBAN DEVELOP      8.10    12/17/19    CNY      51.06
JINAN CITY CONSTRUCTION      6.80    03/20/21    CNY      61.58
JINAN XIAOQINGHE DEVELO      7.15    09/05/19    CNY      39.80
JINAN XIAOQINGHE DEVELO      7.15    09/05/19    CNY      40.62
JINGDEZHEN STATE-OWNED       6.59    06/25/20    CNY      59.89
JINGDEZHEN STATE-OWNED       6.59    06/25/20    CNY      60.42
JINGJIANG BINJIANG XINC      6.80    10/23/18    CNY      25.00
JINGJIANG BINJIANG XINC      6.80    10/23/18    CNY      25.07
JINGMEN CITY CONSTRUCTI      7.00    10/17/20    CNY      60.73
JINGMEN CITY CONSTRUCTI      7.00    10/17/20    CNY      60.77
JINGMEN CITY CONSTRUCTI      6.85    07/09/22    CNY      70.80
JINGMEN CITY CONSTRUCTI      6.85    07/09/22    CNY      71.06
JINGZHOU ECONOMIC TECHN      8.20    12/09/20    CNY      61.76
JINGZHOU URBAN CONSTRUC      7.98    04/24/19    CNY      40.49
JINING CITY CONSTRUCTIO      8.30    12/31/18    CNY      20.41
JINING CITY YANZHOU DIS      5.90    05/28/21    CNY      70.50
JINING HI-TECH TOWN CON      6.60    01/28/20    CNY      40.45
JINING HI-TECH TOWN CON      6.60    01/28/20    CNY      40.45
JINING WATER SUPPLY GRO      7.18    01/22/20    CNY      40.74
JINSHAN STATE-OWNED ASS      6.65    11/27/19    CNY      40.54
JINZHONG CITY PUBLIC IN      6.50    03/18/20    CNY      40.18
JINZHOU CITY INVESTMENT      7.08    06/13/19    CNY      40.22
JINZHOU CITY INVESTMENT      7.08    06/13/19    CNY      40.25
JINZHOU CITY INVESTMENT      8.50    12/27/20    CNY      62.35
JINZHOU CITY INVESTMENT      8.50    12/27/20    CNY      62.59
JINZHOU HUAXING INVESTM      8.38    02/25/21    CNY      61.49
JINZHOU HUAXING INVESTM      9.10    01/21/21    CNY      62.12
JINZHOU HUAXING INVESTM      8.38    02/25/21    CNY      85.00
JISHOU HUATAI STATE OWN      7.37    12/12/19    CNY      40.19
JIUJIANG CITY CONSTRUCT      8.49    02/23/19    CNY      20.51
JIUJIANG CITY CONSTRUCT      8.49    02/23/19    CNY      20.52
JIUJIANG FUHE CONSTRUCT      6.10    03/19/19    CNY      24.91
JIUJIANG FUHE CONSTRUCT      6.10    03/19/19    CNY      50.29
JIUJIANG STATE-OWNED AS      6.68    03/07/20    CNY      40.72
JIUQUAN ECONOMIC DEVELO      7.40    02/26/21    CNY      61.33
JIXI STATE OWN ASSET MA      7.18    11/08/19    CNY      40.21
KAIFENG DEVELOPMENT INV      6.47    07/11/19    CNY      40.29
KAIYUAN CITY TOWN CONST      7.88    02/24/21    CNY      59.55
KAIYUAN CITY TOWN CONST      7.88    02/24/21    CNY      61.69
KARAMAY URBAN CONSTRUCT      7.15    09/04/19    CNY      40.92
KARAMAY URBAN CONSTRUCT      7.15    09/04/19    CNY      41.16
KASHI URBAN CONSTRUCTIO      7.18    11/27/19    CNY      40.00
KASHI URBAN CONSTRUCTIO      7.18    11/27/19    CNY      40.63
KIZILSU KIRGHIZ AUTONOM      7.15    09/16/20    CNY      60.89
KUCHE URBAN CONSTRUCTIO      7.95    12/09/20    CNY      61.70
KUCHE URBAN CONSTRUCTIO      7.95    12/09/20    CNY      80.00
KUERLE CITY CONSTRUCTIO      7.48    09/10/18    CNY      25.21
KUERLE CITY CONSTRUCTIO      7.48    09/10/18    CNY      25.25
KUNMING CITY CONSTRUCTI      7.60    04/13/18    CNY      25.00
KUNMING CITY CONSTRUCTI      7.60    04/13/18    CNY      25.02
KUNMING DIANCHI INVESTM      6.50    02/01/20    CNY      40.39
KUNMING DIANCHI INVESTM      6.50    02/01/20    CNY      40.44
KUNMING INDUSTRIAL DEVE      6.46    10/23/19    CNY      40.25
KUNSHAN ENTREPRENEUR HO      6.28    11/07/19    CNY      40.00
KUNSHAN ENTREPRENEUR HO      6.28    11/07/19    CNY      40.48
KUNSHAN HITECH INDUSTRI      7.10    03/26/21    CNY      61.93
KUNSHAN HITECH INDUSTRI      7.10    03/26/21    CNY      62.17
KUNSHAN HUAQIAO INTERNA      7.98    12/30/18    CNY      20.35
LAIWU CITY ECONOMIC DEV      7.08    02/28/21    CNY      61.45
LAIWU CITY ECONOMIC DEV      7.08    02/28/21    CNY      61.58
LANZHOU CITY DEVELOPMEN      8.20    12/15/18    CNY      40.76
LEQING CITY STATE OWNED      6.50    06/29/19    CNY      39.90
LIAONING COASTAL ECONOM      8.90    04/01/21    CNY      45.44
LIAONING COASTAL ECONOM      8.90    04/01/21    CNY      46.91
LIAONING YAODU DEVELOPM      7.35    12/12/19    CNY      40.53
LIAOYANG CITY ASSETS OP      6.88    06/13/18    CNY      35.00
LIAOYANG CITY ASSETS OP      7.10    11/13/19    CNY      40.47
LIAOYUAN STATE-OWNED AS      8.17    03/13/19    CNY      20.12
LIAOYUAN STATE-OWNED AS      8.17    03/13/19    CNY      40.50
LIJIANG GUCHENG MANAGEM      6.68    07/26/19    CNY      40.27
LINCANG STATE-OWNED ASS      6.58    04/11/20    CNY      60.36
LINCANG STATE-OWNED ASS      6.58    04/11/20    CNY      62.00
LINFEN CITY INVESTMENT       7.23    02/22/19    CNY      50.40
LINFEN CITY INVESTMENT       7.23    02/22/19    CNY      50.73
LINFEN CITY INVESTMENT       6.20    05/23/20    CNY      59.80
LINFEN CITY INVESTMENT       6.20    05/23/20    CNY      60.25
LINFEN YAODU DISTRICT I      6.99    09/27/20    CNY      59.99
LINHAI CITY INFRASTRUCT      6.30    03/21/20    CNY      40.04
LINHAI CITY INFRASTRUCT      6.30    03/21/20    CNY      40.41
LINYI CITY ASSET MANAGE      6.68    12/12/19    CNY      40.65
LINYI ECONOMIC DEVELOPM      8.26    09/24/19    CNY      40.89
LISHUI CITY CONSTRUCTIO      6.00    05/23/20    CNY      60.40
LISHUI URBAN CONSTRUCTI      5.80    05/29/20    CNY      59.88
LIUPANSHUI DEVELOPMENT       6.97    12/03/19    CNY      41.30
LIUPANSHUI DEVELOPMENT       7.50    02/19/21    CNY      61.57
LIUZHOU CITY INVESTMENT      7.18    12/31/22    CNY      71.14
LIUZHOU DONGCHENG INVES      8.30    02/15/19    CNY      20.45
LIUZHOU DONGCHENG INVES      7.40    10/29/20    CNY      61.28
LIUZHOU DONGCHENG INVES      7.40    10/29/20    CNY      61.31
LIUZHOU INVESTMENT HOLD      6.98    08/15/19    CNY      40.37
LIYANG CITY CONSTRUCTIO      8.20    11/08/18    CNY      33.75
LIYANG CITY CONSTRUCTIO      6.20    03/08/20    CNY      40.38
LIYANG CITY CONSTRUCTIO      6.20    03/08/20    CNY      40.45
LONGYAN HUIJIN DEVELOPM      7.10    10/18/20    CNY      61.19
LONGYAN HUIJIN DEVELOPM      7.10    10/18/20    CNY      61.37
LOUDI CITY CONSTRUCTION      7.28    10/19/18    CNY      25.15
LOUDI CITY CONSTRUCTION      7.28    10/19/18    CNY      25.20
LU'AN CITY CONSTRUCTION      8.00    12/02/20    CNY      61.83
LUOHE CITY CONSTRUCTION      6.99    10/30/19    CNY      40.52
MAANSHAN ECONOMIC TECHN      7.10    12/20/19    CNY      40.78
MEISHAN CITY ASSET OPER      7.84    02/26/21    CNY      62.08
MEISHAN HONGDA CONSTRUC      6.56    06/19/20    CNY      60.21
MEISHAN HONGDA CONSTRUC      6.56    06/19/20    CNY      60.59
MEIZHOU KANGDA HIGHWAY       6.95    09/10/20    CNY      60.61
MEIZHOU KANGDA HIGHWAY       6.95    09/10/20    CNY      60.68
MIANYANG INVESTMENT HOL      7.70    03/26/19    CNY      40.49
MIANYANG INVESTMENT HOL      7.70    03/26/19    CNY      40.59
MIANYANG SCIENCE TECHNO      6.30    07/22/18    CNY      27.43
MIANYANG SCIENCE TECHNO      7.16    05/15/19    CNY      40.14
MINXIXINGHANG STATE-OWN      6.20    03/26/19    CNY      25.22
MINXIXINGHANG STATE-OWN      6.20    03/26/19    CNY      50.00
MUDANJIANG STATE-OWNED       7.08    08/30/19    CNY      40.01
MUDANJIANG STATE-OWNED       7.08    08/30/19    CNY      40.43
NANAN CITY TRADE INDUST      8.50    04/25/19    CNY      40.61
NANCHANG CITY CONSTRUCT      6.19    02/20/20    CNY      40.53
NANCHANG COUNTY URBAN C      6.50    07/17/19    CNY      50.34
NANCHANG COUNTY URBAN C      6.50    07/17/19    CNY      50.34
NANCHANG ECONOMY TECHNO      6.88    01/09/20    CNY      40.44
NANCHANG MUNICIPAL PUBL      5.88    02/25/20    CNY      40.35
NANCHANG MUNICIPAL PUBL      5.88    02/25/20    CNY      40.46
NANCHANG WATER CONSERVA      6.28    06/21/20    CNY      60.52
NANCHANG WATER CONSERVA      6.28    06/21/20    CNY      60.59
NANCHONG DEVELOPMENT IN      6.69    01/28/20    CNY      40.59
NANCHONG ECONOMIC DEVEL      8.16    04/26/19    CNY      40.42
NANJING JIANGBEI NEW AR      6.94    09/07/19    CNY      40.50
NANJING JIANGBEI NEW AR      6.94    09/07/19    CNY      40.55
NANJING JIANGNING SCIEN      7.29    04/28/19    CNY      40.40
NANJING PUKOU ECONOMIC       7.10    10/08/19    CNY      40.00
NANJING PUKOU ECONOMIC       7.10    10/08/19    CNY      40.42
NANJING STATE OWNED ASS      5.40    03/06/20    CNY      39.80
NANJING STATE OWNED ASS      5.40    03/06/20    CNY      39.88
NANJING STATE OWNED ASS      5.60    03/06/23    CNY      69.51
NANJING STATE OWNED ASS      5.60    03/06/23    CNY      69.70
NANJING URBAN CONSTRUCT      5.68    11/26/18    CNY      24.98
NANJING URBAN CONSTRUCT      5.68    11/26/18    CNY      25.12
NANJING XINGANG DEVELOP      6.80    01/08/20    CNY      40.21
NANNING URBAN CONSTRUCT      8.20    12/26/20    CNY      61.05
NANNING URBAN CONSTRUCT      8.20    12/26/20    CNY      61.52
NANPING CITY WUYI NEW D      6.70    08/06/20    CNY      60.73
NANPING CITY WUYI NEW D      6.70    08/06/20    CNY      61.07
NANTONG CITY GANGZHA DI      7.15    01/09/20    CNY      40.74
NANTONG CITY GANGZHA DI      7.15    01/09/20    CNY      40.78
NANTONG CITY TONGZHOU D      6.80    05/28/19    CNY      40.26
NANTONG CITY TONGZHOU D      6.80    05/28/19    CNY      40.31
NANTONG ECONOMIC & TECH      5.80    05/17/20    CNY      60.08
NANTONG ECONOMIC & TECH      5.80    05/17/20    CNY      60.09
NANYANG INVESTMENT GROU      7.05    10/24/20    CNY      61.11
NEIJIANG INVESTMENT HOL      7.00    07/19/18    CNY      25.05
NEIJIANG INVESTMENT HOL      7.00    07/19/18    CNY      25.06
NEOGLORY HOLDING GROUP       8.10    11/23/18    CNY      70.10
NINGBO CITY HAISHU GUAN      7.75    03/06/21    CNY      61.37
NINGBO CITY HAISHU GUAN      7.75    03/06/21    CNY      61.38
NINGBO CITY YINZHOU CIT      6.50    03/18/20    CNY      40.00
NINGBO CITY YINZHOU CIT      6.50    03/18/20    CNY      40.00
NINGBO EASTERN NEW TOWN      6.45    01/21/20    CNY      40.06
NINGBO ZHENHAI HAIJIANG      6.65    11/28/18    CNY      25.12
NINGDE CITY STATE-OWNED      7.99    12/05/20    CNY      62.04
NINGDE CITY STATE-OWNED      7.99    12/05/20    CNY      62.21
NINGHAI COUNTY URBAN IN      8.00    01/02/21    CNY      61.60
NINGHAI COUNTY URBAN IN      8.00    01/02/21    CNY      62.06
PANJIN CONSTRUCTION INV      7.50    05/17/19    CNY      40.69
PANJIN PETROLEUM HIGH T      6.95    01/10/20    CNY      40.31
PANJIN PETROLEUM HIGH T      6.95    01/10/20    CNY      40.32
PANZHIHUA STATE OWNED A      7.60    03/05/21    CNY      61.55
PANZHIHUA STATE OWNED A      7.60    03/05/21    CNY      61.96
PEIXIAN STATE-OWNED ASS      7.20    12/06/19    CNY      40.29
PINGDINGSHAN CITY DEVEL      7.86    05/08/19    CNY      40.41
PINGDINGSHAN CITY DEVEL      7.86    05/08/19    CNY      40.47
PINGDU CITY STATE OWNED      7.25    11/05/20    CNY      60.85
PINGDU CITY STATE OWNED      7.25    11/05/20    CNY      61.09
PINGHU CITY INVESTMENT       7.20    09/18/19    CNY      40.60
PINGLIANG CHENGXIANG CO      7.10    09/17/20    CNY      60.93
PINGTAN COMPOSITE EXPER      6.58    03/15/20    CNY      40.49
PINGTAN COMPOSITE EXPER      6.58    03/15/20    CNY      60.40
PINGXIANG HUIFENG INVES      7.06    10/11/20    CNY      61.21
PINGXIANG URBAN CONSTRU      6.89    12/10/19    CNY      39.80
PIZHOU RUNCHENG ASSET O      7.55    09/25/19    CNY      40.68
PIZHOU RUNCHENG ASSET O      7.55    09/25/19    CNY      40.70
PUER CITY STATE OWNED A      7.38    06/20/19    CNY      40.29
PULANDIAN CITY CONSTRUC      8.48    12/12/18    CNY      56.17
PULANDIAN CITY CONSTRUC      7.60    11/19/20    CNY      61.60
PULANDIAN CITY CONSTRUC      7.60    11/19/20    CNY      61.70
PULANDIAN CITY CONSTRUC      7.74    04/21/21    CNY      82.40
PUTIAN STATE-OWNED ASSE      8.10    03/21/19    CNY      20.52
PUTIAN STATE-OWNED ASSE      8.10    03/21/19    CNY      40.50
PUTIAN URBAN CONSTRUCTI      7.59    02/26/21    CNY      61.98
PUYANG INVESTMENT GROUP      8.00    12/11/20    CNY      61.88
PUYANG INVESTMENT GROUP      8.00    12/11/20    CNY      62.14
QIANAN URBAN CONSTRUCTI      8.88    01/23/21    CNY      61.76
QIANAN URBAN CONSTRUCTI      8.88    01/23/21    CNY      62.42
QIANAN XINGYUAN WATER I      6.45    07/11/18    CNY      25.01
QIANAN XINGYUAN WATER I      6.45    07/11/18    CNY      25.01
QIANDONG NANZHOU DEVELO      8.80    04/27/19    CNY      40.40
QIANDONGNANZHOU KAIHONG      7.80    10/30/19    CNY      40.60
QIANNAN AUTONOMOUS PREF      6.90    09/04/20    CNY      60.92
QIANXI NANZHOU HONGSHEN      6.99    11/22/19    CNY      40.24
QIDONG STATE-OWNED ASSE      7.30    11/20/22    CNY      70.50
QIDONG STATE-OWNED ASSE      7.30    11/20/22    CNY      71.60
QINGDAO CHENGYANG DEVEL      7.09    03/10/21    CNY      61.20
QINGDAO CHENGYANG DEVEL      7.09    03/10/21    CNY      61.97
QINGDAO CHINA PROSPERIT      7.30    04/18/19    CNY      40.32
QINGDAO CHINA PROSPERIT      7.30    04/18/19    CNY      40.55
QINGDAO CITY CONSTRUCTI      6.89    02/16/19    CNY      20.20
QINGDAO CITY CONSTRUCTI      6.89    02/16/19    CNY      20.27
QINGDAO CONSON DEVELOPM      6.40    12/12/22    CNY      71.66
QINGDAO CONSON DEVELOPM      6.40    12/12/22    CNY      76.00
QINGDAO JIAOZHOU CITY D      6.59    01/25/20    CNY      40.59
QINGDAO LAIXI CITY ASSE      7.50    03/06/21    CNY      61.06
QINGDAO LAIXI CITY ASSE      7.50    03/06/21    CNY      61.53
QINGYUAN TRANSPORTATION      8.20    12/19/20    CNY      61.93
QINGZHOU HONGYUAN PUBLI      6.50    05/22/19    CNY      19.90
QINGZHOU HONGYUAN PUBLI      6.50    05/22/19    CNY      20.03
QINGZHOU HONGYUAN PUBLI      7.25    10/19/18    CNY      25.01
QINGZHOU HONGYUAN PUBLI      7.25    10/19/18    CNY      25.26
QINGZHOU HONGYUAN PUBLI      7.35    10/19/19    CNY      40.52
QINGZHOU HONGYUAN PUBLI      7.35    10/19/19    CNY      40.73
QINHUANGDAO DEVELOPMENT      7.46    10/17/19    CNY      40.14
QINHUANGDAO DEVELOPMENT      8.00    12/17/20    CNY      61.40
QINHUANGDAO DEVELOPMENT      8.00    12/17/20    CNY      61.51
QINZHOU BINHAI NEW CITY      7.00    08/27/20    CNY      60.46
QINZHOU BINHAI NEW CITY      7.00    08/27/20    CNY      60.78
QINZHOU CITY DEVELOPMEN      7.10    10/16/19    CNY      70.98
QITAIHE CITY CONSTRUCTI      7.30    10/18/19    CNY      40.50
QUANZHOU TAISHANG INVES      7.08    12/10/19    CNY      40.62
QUANZHOU TAISHANG INVES      7.08    12/10/19    CNY      40.72
QUANZHOU TAISHANG INVES      7.22    02/25/21    CNY      61.65
QUANZHOU TAISHANG INVES      7.22    02/25/21    CNY      62.49
QUANZHOU URBAN CONSTRUC      6.48    01/11/20    CNY      40.50
QUANZHOU URBAN CONSTRUC      6.48    01/11/20    CNY      40.97
QUJING DEVELOPMENT INVE      7.25    09/06/19    CNY      40.39
QUJING DEVELOPMENT INVE      7.25    09/06/19    CNY      40.48
RIZHAO CITY CONSTRUCTIO      5.80    06/06/20    CNY      60.00
RIZHAO CITY CONSTRUCTIO      5.80    06/06/20    CNY      60.26
RONGCHENG ECONOMIC DEVE      6.45    03/18/20    CNY      40.63
RUDONG COUNTY DONGTAI S      7.45    09/24/19    CNY      40.48
RUDONG COUNTY JINXIN TR      8.08    03/03/21    CNY      61.75
RUDONG COUNTY JINXIN TR      8.08    03/03/21    CNY      61.76
RUGAO CITY ECONOMIC TRA      8.30    01/22/21    CNY      61.00
RUGAO CITY ECONOMIC TRA      8.30    01/22/21    CNY      62.69
RUGAO COMMUNICATIONS CO      8.51    01/26/19    CNY      25.51
RUGAO COMMUNICATIONS CO      6.70    02/01/20    CNY      40.55
RUGAO COMMUNICATIONS CO      6.70    02/01/20    CNY      60.81
RUGAO YANJIANG DEVELOPM      8.60    01/24/21    CNY      61.00
RUGAO YANJIANG DEVELOPM      8.60    01/24/21    CNY      62.83
RUIAN STATE OWNED ASSET      6.93    11/26/19    CNY      39.94
RUIAN STATE OWNED ASSET      6.93    11/26/19    CNY      40.57
RUSHAN CITY STATE-OWNED      6.90    09/11/20    CNY      61.10
RUSHAN CITY STATE-OWNED      6.90    09/11/20    CNY      61.34
SANMING CITY CONSTRUCTI      6.40    03/05/20    CNY      40.40
SANMING CITY CONSTRUCTI      6.40    03/05/20    CNY      40.47
SANMING STATE-OWNED ASS      6.99    06/14/18    CNY      40.15
SANMING STATE-OWNED ASS      6.92    12/05/19    CNY      40.79
SHAANXI WEINAN HIGH-TEC      8.28    02/28/21    CNY      60.91
SHAANXI WEINAN HIGH-TEC      8.28    02/28/21    CNY      62.00
SHANDONG JINMAO TEXTILE      9.00    02/21/19    CNY      69.83
SHANDONG RENCHENG RONGX      7.30    10/18/20    CNY      60.91
SHANDONG RENCHENG RONGX      7.30    10/18/20    CNY      61.27
SHANDONG TAIFENG HOLDIN      5.80    03/12/20    CNY      39.38
SHANDONG WEISHANHU MINI      6.15    03/13/20    CNY      66.18
SHANGHAI BUND GROUP DEV      6.35    04/24/20    CNY      60.43
SHANGHAI BUND GROUP DEV      6.35    04/24/20    CNY      60.53
SHANGHAI CHENGTOU CORP       4.63    07/30/19    CNY      39.80
SHANGHAI CHENJIAZHEN CO      7.18    11/06/19    CNY      50.89
SHANGHAI CHENJIAZHEN CO      7.18    11/06/19    CNY      50.90
SHANGHAI FENGXIAN NANQI      6.25    03/05/20    CNY      40.38
SHANGHAI JIADING INDUST      6.71    10/10/18    CNY      25.11
SHANGHAI JIADING INDUST      6.71    10/10/18    CNY      25.17
SHANGHAI JINSHAN URBAN       6.60    12/21/19    CNY      40.51
SHANGHAI LAKE DIANSHAN       5.95    01/30/21    CNY      74.96
SHANGHAI LUJIAZUI DEVEL      5.79    02/25/19    CNY      40.24
SHANGHAI LUJIAZUI DEVEL      5.98    03/11/19    CNY      40.26
SHANGHAI LUJIAZUI DEVEL      5.79    02/25/19    CNY      40.32
SHANGHAI LUJIAZUI DEVEL      5.98    03/11/19    CNY      70.18
SHANGHAI MINHANG URBAN       6.48    10/23/19    CNY      40.44
SHANGHAI MINHANG URBAN       6.48    10/23/19    CNY      40.56
SHANGHAI NANFANG GROUP       6.70    09/09/19    CNY      50.21
SHANGHAI NANFANG GROUP       6.70    09/09/19    CNY      50.46
SHANGHAI SONGJIANG TOWN      6.28    08/15/18    CNY      24.80
SHANGHAI SONGJIANG TOWN      6.28    08/15/18    CNY      25.11
SHANGHAI URBAN CONSTRUC      5.25    11/30/19    CNY      40.03
SHANGLUO CITY CONSTRUCT      6.75    09/09/19    CNY      50.48
SHANGLUO CITY CONSTRUCT      6.75    09/09/19    CNY      50.54
SHANGLUO CITY CONSTRUCT      7.05    09/09/20    CNY      60.83
SHANGLUO CITY CONSTRUCT      7.05    09/09/20    CNY      60.88
SHANGQIU DEVELOPMENT IN      6.60    01/15/20    CNY      40.42
SHANGRAO CITY CONSTRUCT      7.30    09/10/19    CNY      40.67
SHANGYU HANGZHOU BAY DI      6.95    10/11/20    CNY      58.99
SHANGYU HANGZHOU BAY DI      6.95    10/11/20    CNY      60.80
SHANTOU CITY CONSTRUCTI      8.57    03/23/22    CNY      62.10
SHANTOU CITY CONSTRUCTI      8.57    03/23/22    CNY      63.23
SHAOGUAN JINYE DEVELOPM      7.30    10/18/19    CNY      40.30
SHAOGUAN JINYE DEVELOPM      7.30    10/18/19    CNY      40.60
SHAOXING CHENGBEI XINCH      6.21    06/11/18    CNY      24.98
SHAOXING CHENGBEI XINCH      6.21    06/11/18    CNY      25.00
SHAOXING CHENGZHONGCUN       6.50    01/24/20    CNY      40.16
SHAOXING CHENGZHONGCUN       6.50    01/24/20    CNY      40.43
SHAOXING HI-TECH INDUST      6.75    12/05/18    CNY      25.06
SHAOXING KEQIAO DISTRIC      6.30    02/26/19    CNY      25.24
SHAOXING PAOJIANG INDUS      6.90    10/31/19    CNY      40.50
SHAOXING SHANGYU COMMUN      6.70    09/11/19    CNY      40.30
SHAOXING SHANGYU COMMUN      6.70    09/11/19    CNY      40.38
SHAOXING URBAN CONSTRUC      6.40    11/09/19    CNY      40.46
SHAOYANG CITY CONSTRUCT      7.40    09/11/18    CNY      25.22
SHAOYANG CITY CONSTRUCT      8.58    01/17/21    CNY      62.30
SHAOYANG CITY CONSTRUCT      8.58    01/17/21    CNY      62.69
SHENYANG SUJIATUN DISTR      6.40    06/20/20    CNY      60.38
SHENZHEN METRO GROUP CO      5.40    03/25/23    CNY      70.14
SHENZHEN METRO GROUP CO      5.40    03/25/23    CNY      70.18
SHIJIAZHUANG REAL ESTAT      5.65    05/15/20    CNY      60.07
SHIYAN CITY INFRASTRUCT      7.98    04/20/19    CNY      40.51
SHIYAN CITY INFRASTRUCT      6.88    10/11/20    CNY      60.64
SHOUGUANG CITY CONSTRUC      7.10    10/18/20    CNY      60.63
SHOUGUANG CITY CONSTRUC      7.10    10/18/20    CNY      61.12
SHOUGUANG JINCAI STATE-      6.70    10/23/19    CNY      40.35
SHOUGUANG JINCAI STATE-      6.70    10/23/19    CNY      40.58
SHUANGLIU COUNTY WATER       7.40    02/26/20    CNY      50.94
SHUANGLIU SHINE CHINE C      8.40    03/16/19    CNY      40.63
SHUANGLIU SHINE CHINE C      8.48    03/16/19    CNY      40.97
SHUANGLIU SHINE CHINE C      8.40    03/16/19    CNY      41.12
SHUANGLIU SHINE CHINE C      8.48    03/16/19    CNY      71.13
SHUANGYASHAN DADI CITY       6.55    12/25/19    CNY      40.08
SHUANGYASHAN DADI CITY       6.55    12/25/19    CNY      40.20
SHUYANG JINGYUAN ASSET       6.50    12/03/19    CNY      40.21
SHUYANG JINGYUAN ASSET       6.50    12/03/19    CNY      40.24
SICHUAN CHENGDU ABA DEV      7.18    09/12/20    CNY      60.36
SICHUAN COAL INDUSTRY G      7.70    01/09/18    CNY      45.00
SONGYUAN URBAN DEVELOPM      7.30    08/29/19    CNY      31.41
SUIFENHE HAIRONG URBAN       6.60    04/28/20    CNY      59.41
SUINING DEVELOPMENT INV      6.62    04/25/20    CNY      60.32
SUINING DEVELOPMENT INV      6.62    04/25/20    CNY      60.37
SUINING KAIDA INVESTMEN      8.69    04/21/21    CNY      82.33
SUIZHOU DEVELOPMENT INV      7.50    08/22/19    CNY      40.31
SUIZHOU DEVELOPMENT INV      7.50    08/22/19    CNY      40.40
SUIZHOU DEVELOPMENT INV      8.50    12/20/20    CNY      61.83
SUIZHOU DEVELOPMENT INV      8.50    12/20/20    CNY      62.53
SUQIAN CITY CONSTRUCTIO      6.88    10/29/20    CNY      61.38
SUQIAN ECONOMIC DEVELOP      7.50    03/26/19    CNY      20.30
SUQIAN ECONOMIC DEVELOP      7.50    03/26/19    CNY      20.52
SUQIAN WATER GROUP CO        6.55    12/04/19    CNY      40.39
SUZHOU CITY CONSTRUCTIO      7.45    03/12/19    CNY      20.39
SUZHOU CITY CONSTRUCTIO      6.40    04/17/20    CNY      60.41
SUZHOU CITY CONSTRUCTIO      6.40    04/17/20    CNY      60.45
SUZHOU FENHU INVESTMENT      7.49    02/28/21    CNY      61.56
SUZHOU INDUSTRIAL PARK       5.79    05/30/19    CNY      40.08
SUZHOU TECH CITY DEVELO      7.32    11/01/18    CNY      25.28
SUZHOU URBAN CONSTRUCTI      5.79    10/25/19    CNY      40.21
SUZHOU URBAN CONSTRUCTI      5.79    10/25/19    CNY      40.29
SUZHOU WUJIANG COMMUNIC      6.80    10/31/20    CNY      56.04
SUZHOU WUJIANG EASTERN       8.05    12/05/18    CNY      40.67
SUZHOU WUJIANG EASTERN       8.05    12/05/18    CNY      40.73
SUZHOU XIANGCHENG URBAN      6.95    09/03/19    CNY      40.45
SUZHOU XIANGCHENG URBAN      6.95    09/03/19    CNY      40.58
SUZHOU XIANGCHENG URBAN      6.95    03/19/21    CNY      61.57
SUZHOU XIANGCHENG URBAN      6.95    03/19/21    CNY      61.74
TACHENG DISTRICT STATE-      7.49    10/16/19    CNY      50.65
TACHENG DISTRICT STATE-      7.49    10/16/19    CNY      50.70
TAIAN TAISHAN INVESTMEN      6.76    01/25/20    CNY      40.71
TAICANG ASSET MANAGEMEN      8.25    12/31/18    CNY      40.78
TAICANG ASSET MANAGEMEN      8.25    12/31/18    CNY      40.94
TAICANG ASSET MANAGEMEN      7.00    02/27/21    CNY      61.12
TAICANG ASSET MANAGEMEN      7.00    02/27/21    CNY      61.70
TAICANG HENGTONG INVEST      7.45    10/30/19    CNY      40.63
TAICANG URBAN CONSTRUCT      6.75    01/11/20    CNY      40.73
TAIXING CITY CHENGXING       8.30    12/12/20    CNY      62.14
TAIXING CITY CHENGXING       8.30    12/12/20    CNY      62.50
TAIYUAN HIGH-SPEED RAIL      6.50    10/30/20    CNY      56.04
TAIYUAN LONGCHENG DEVEL      6.50    09/25/19    CNY      40.25
TAIYUAN STATE-OWNED INV      7.20    03/19/21    CNY      61.54
TAIYUAN STATE-OWNED INV      7.20    03/19/21    CNY      62.11
TAIZHOU CITY HUANGYAN D      6.85    12/17/18    CNY      25.19
TAIZHOU CITY JIANGYAN U      7.10    09/03/20    CNY      61.64
TAIZHOU CITY NEW BINJIA      7.60    03/05/21    CNY      61.07
TAIZHOU HAILING ASSETS       8.52    03/21/19    CNY      20.50
TAIZHOU JIANGYAN STATE       6.85    12/03/19    CNY      39.96
TAIZHOU JIANGYAN STATE       6.85    12/03/19    CNY      40.25
TAIZHOU JIAOJIANG STATE      7.46    09/13/20    CNY      56.39
TAIZHOU JIAOJIANG STATE      7.46    09/13/20    CNY      56.88
TAIZHOU TRAFFIC INDUSTR      6.15    03/11/20    CNY      40.10
TAIZHOU TRAFFIC INDUSTR      6.15    03/11/20    CNY      40.38
TAIZHOU XINTAI GROUP CO      6.85    08/14/18    CNY      25.05
TAIZHOU XINTAI GROUP CO      6.85    08/14/18    CNY      25.06
TANGSHAN CAOFEIDIAN DEV      7.50    10/15/20    CNY      59.82
TANGSHAN URBAN CONSTRUC      7.10    02/26/21    CNY      61.21
TANGSHAN URBAN CONSTRUC      7.10    02/26/21    CNY      61.96
TIANJIN BAOXING INDUSTR      7.10    10/17/20    CNY      60.89
TIANJIN BAOXING INDUSTR      7.10    10/17/20    CNY      61.60
TIANJIN BINHAI NEW AREA      5.19    03/13/20    CNY      39.80
TIANJIN CITY JINGHAI UR      7.90    11/26/20    CNY      61.67
TIANJIN DONGFANG CAIXIN      7.99    11/23/18    CNY      40.66
TIANJIN DONGLI CITY INF      6.05    06/19/20    CNY      60.14
TIANJIN ECO-CITY INVEST      6.76    08/14/19    CNY      40.27
TIANJIN ECO-CITY INVEST      6.76    08/14/19    CNY      40.29
TIANJIN ECONOMIC TECHNO      6.20    12/03/19    CNY      40.32
TIANJIN ECONOMIC TECHNO      6.20    12/03/19    CNY      40.41
TIANJIN ECONOMIC TECHNO      6.50    12/03/22    CNY      71.07
TIANJIN ECONOMIC TECHNO      6.50    12/03/22    CNY      71.08
TIANJIN GUANGCHENG INVE      6.97    02/22/23    CNY      69.04
TIANJIN HANBIN INVESTME      8.39    03/22/19    CNY      20.46
TIANJIN HI-TECH INDUSTR      7.80    03/27/19    CNY      20.29
TIANJIN HI-TECH INDUSTR      7.80    03/27/19    CNY      20.35
TIANJIN HUANCHENG URBAN      7.20    03/21/21    CNY      61.47
TIANJIN INFRASTRUCTURE       5.70    02/26/23    CNY      71.26
TIANJIN INFRASTRUCTURE       5.70    02/26/23    CNY      81.14
TIANJIN JINNAN CITY CON      6.95    06/18/19    CNY      40.31
TIANJIN LINGANG INVESTM      7.75    02/26/21    CNY      61.79
TIANJIN LINGANG INVESTM      7.75    02/26/21    CNY      81.00
TIANJIN REAL ESTATE TRU      8.59    03/13/21    CNY      60.86
TIANJIN REAL ESTATE TRU      8.59    03/13/21    CNY      63.16
TIANJIN RESIDENTIAL CON      8.00    12/19/20    CNY      61.36
TIANJIN TEDA CONSTRUCTI      6.89    04/27/20    CNY      60.91
TIANJIN WUQING STATE-OW      7.18    03/19/21    CNY      61.67
TIANJIN WUQING STATE-OW      7.18    03/19/21    CNY      61.75
TIANJIN WUQING STATE-OW      8.00    12/17/20    CNY      62.20
TIANJIN WUQING STATE-OW      8.00    12/17/20    CNY      62.40
TIELING PUBLIC ASSETS I      7.34    05/29/18    CNY      24.90
TIELING PUBLIC ASSETS I      7.34    05/29/18    CNY      25.05
TONGCHUAN DEVELOPMENT I      7.50    07/17/19    CNY      40.10
TONGLIAO URBAN INVESTME      6.64    04/09/20    CNY      60.31
TONGLING CONSTRUCTION I      6.98    08/26/20    CNY      60.64
TONGLING CONSTRUCTION I      6.98    08/26/20    CNY      60.92
TONGLING CONSTRUCTION I      8.20    04/28/22    CNY      73.24
TONGLING CONSTRUCTION I      8.20    04/28/22    CNY      81.00
TONGREN FANJINGSHAN INV      6.89    08/02/19    CNY      40.33
TONGREN TOURISM INVESTM      8.00    02/20/21    CNY      61.51
TONGREN TOURISM INVESTM      8.00    02/20/21    CNY      62.58
TONGXIANG CITY CONSTRUC      6.10    05/16/20    CNY      59.50
TONGXIANG CITY CONSTRUC      6.10    05/16/20    CNY      60.29
TULUFAN DISTRICT STATE-      7.20    08/09/19    CNY      50.54
TULUFAN DISTRICT STATE-      7.20    08/09/19    CNY      50.87
ULANQAB CITY JI NING DI      6.88    03/19/20    CNY      39.72
URUMQI CITY CONSTRUCTIO      6.35    07/09/19    CNY      39.00
URUMQI CITY CONSTRUCTIO      6.35    07/09/19    CNY      40.25
URUMQI CITY CONSTRUCTIO      7.20    11/06/18    CNY      50.44
URUMQI ECO&TECH DEVELOP      8.58    01/10/19    CNY      25.60
URUMQI GAOXIN INVESTMEN      6.18    03/05/20    CNY      39.93
URUMQI GAOXIN INVESTMEN      6.18    03/05/20    CNY      40.10
URUMQI STATE-OWN ASSET       6.17    03/16/21    CNY      75.14
URUMQI STATE-OWNED ASSE      6.48    04/28/18    CNY      24.98
VANZIP INVESTMENT GROUP      7.92    02/04/19    CNY      22.34
WAFANGDIAN STATE-OWNED       8.55    04/19/19    CNY      40.52
WAFANGDIAN STATE-OWNED       6.20    06/20/20    CNY      59.90
WAFANGDIAN STATE-OWNED       6.20    06/20/20    CNY      60.18
WEIFANG BINCHENG INVEST      8.59    02/14/21    CNY      62.51
WEIFANG BINCHENG INVEST      8.59    02/14/21    CNY      62.88
WEIFANG BINHAI INVESTME      6.16    04/16/21    CNY      70.11
WEIFANG DONGFANG STATE-      7.78    03/24/21    CNY      61.00
WEIFANG DONGFANG STATE-      7.78    03/24/21    CNY      62.05
WEIFANG DONGXIN CONSTRU      6.88    11/20/19    CNY      40.37
WEIFANG DONGXIN CONSTRU      6.88    11/20/19    CNY      40.46
WEIHAI WENDENG URBAN PR      6.38    03/06/20    CNY      40.42
WEINAN CITY INVESTMENT       6.69    01/15/20    CNY      40.33
WEINAN CITY INVESTMENT       6.69    01/15/20    CNY      40.46
WENLING CITY STATE OWNE      7.18    09/18/19    CNY      40.39
WENLING CITY STATE OWNE      7.18    09/18/19    CNY      40.64
WENSHAN URBAN CONSTRUCT      8.10    02/27/21    CNY      62.19
WENSHAN URBAN CONSTRUCT      8.10    02/27/21    CNY      82.00
WENZHOU ANJUFANG CITY D      7.65    04/24/19    CNY      40.35
WENZHOU ECONOMIC-TECHNO      6.49    01/15/20    CNY      40.46
WENZHOU ECONOMIC-TECHNO      6.49    01/15/20    CNY      40.54
WENZHOU HIGH-TECH INDUS      7.95    03/21/21    CNY      61.82
WUHAI CITY CONSTRUCTION      8.20    03/31/19    CNY      20.37
WUHAN CAIDIAN URBAN CON      7.24    05/28/21    CNY      36.06
WUHAN CHEDU GROUP CO LT      7.18    02/27/21    CNY      61.34
WUHAN CHEDU GROUP CO LT      7.18    02/27/21    CNY      61.81
WUHAN JIANGXIA URBAN CO      8.99    01/20/21    CNY      62.58
WUHAN METRO GROUP CO LT      5.70    02/04/20    CNY      40.36
WUHAN METRO GROUP CO LT      5.70    02/04/20    CNY      60.20
WUHAN REAL ESTATE DEVEL      5.90    03/22/19    CNY      25.09
WUHAN REAL ESTATE DEVEL      5.90    03/22/19    CNY      50.00
WUHAN URBAN CONSTRUCTIO      5.60    03/08/20    CNY      40.01
WUHU ECONOMIC TECHNOLOG      6.70    06/08/18    CNY      25.05
WUHU ECONOMIC TECHNOLOG      6.70    06/08/18    CNY      25.07
WUHU ECONOMIC TECHNOLOG      6.90    06/08/22    CNY      70.69
WUHU ECONOMIC TECHNOLOG      6.90    06/08/22    CNY      71.21
WUHU JINGHU CONSTRUCTIO      6.68    05/16/20    CNY      60.75
WUHU XINMA INVESTMENT C      7.18    11/14/19    CNY      40.23
WUHU XINMA INVESTMENT C      7.18    11/14/19    CNY      40.68
WUJIANG ECONOMIC TECHNO      6.88    12/27/19    CNY      40.63
WUWEI CITY ECONOMY DEVE      8.20    12/09/20    CNY      61.58
WUWEI CITY ECONOMY DEVE      8.20    12/09/20    CNY      62.53
WUXI CONSTRUCTION AND D      6.60    09/17/19    CNY      40.42
WUXI CONSTRUCTION AND D      6.60    09/17/19    CNY      40.50
WUXI HUISHAN ECONOMIC D      6.03    04/22/19    CNY      50.21
WUXI MUNICIPAL DEVELOPM      6.10    10/11/20    CNY      59.55
WUXI MUNICIPAL DEVELOPM      6.10    10/11/20    CNY      60.85
WUXI TAIHU INTERNATIONA      7.60    09/17/19    CNY      40.68
WUXI TAIHU INTERNATIONA      7.60    09/17/19    CNY      40.68
WUXI XIDONG NEW TOWN CO      6.65    01/28/20    CNY      40.21
WUXI XIDONG NEW TOWN CO      6.65    01/28/20    CNY      40.28
WUXI XIDONG TECHNOLOGY       5.98    10/26/18    CNY      40.21
WUXI XIDONG TECHNOLOGY       5.98    10/26/18    CNY      40.45
WUZHONG URBAN RURAL CON      7.18    10/12/20    CNY      61.02
WUZHONG URBAN RURAL CON      7.18    10/12/20    CNY      61.04
WUZHOU DONGTAI STATE-OW      7.40    09/03/19    CNY      40.50
XIAMEN XINGLIN CONSTRUC      6.60    02/22/20    CNY      40.28
XIAMEN XINGLIN CONSTRUC      6.60    02/22/20    CNY      40.29
XI'AN AEROSPACE BASE IN      6.96    11/08/19    CNY      40.54
XIAN CHANBAHE DEVELOPME      6.89    08/03/19    CNY      40.41
XI'AN HI-TECH HOLDING C      5.70    02/26/19    CNY      25.18
XI'AN HI-TECH HOLDING C      5.70    02/26/19    CNY      51.03
XI'AN URBAN INDEMNIFICA      7.31    03/18/19    CNY      40.55
XI'AN URBAN INDEMNIFICA      7.31    03/18/19    CNY      40.76
XI'AN URBAN INDEMNIFICA      7.31    04/18/19    CNY      70.50
XI'AN URBAN INDEMNIFICA      7.31    04/18/19    CNY      70.87
XIANGTAN CITY CONSTRUCT      8.00    03/16/19    CNY      20.45
XIANGTAN CITY CONSTRUCT      8.00    03/16/19    CNY      20.48
XIANGTAN HI-TECH GROUP       6.90    01/15/20    CNY      40.43
XIANGTAN HI-TECH GROUP       8.16    02/25/21    CNY      61.43
XIANGTAN HI-TECH GROUP       8.16    02/25/21    CNY      61.83
XIANGTAN JIUHUA ECONOMI      7.43    08/29/19    CNY      40.52
XIANGTAN JIUHUA ECONOMI      7.15    10/15/20    CNY      60.69
XIANGTAN ZHENXIANG STAT      6.60    08/07/20    CNY      60.81
XIANGTAN ZHENXIANG STAT      6.60    08/07/20    CNY      60.86
XIANNING CITY CONSTRUCT      7.50    08/31/18    CNY      25.12
XIANNING CITY CONSTRUCT      7.50    08/31/18    CNY      25.20
XIANNING HIGH-TECH INVE      5.80    06/05/20    CNY      59.68
XIANNING HIGH-TECH INVE      5.80    06/05/20    CNY      59.69
XIANTAO CITY CONSTRUCTI      8.15    02/24/21    CNY      61.77
XIANTAO CITY CONSTRUCTI      8.15    02/24/21    CNY      62.52
XIAOGAN URBAN CONSTRUCT      8.12    03/26/19    CNY      20.52
XINGAN LEAGUE URBAN DEV      8.20    03/06/21    CNY      61.36
XINGAN LEAGUE URBAN DEV      8.20    03/06/21    CNY      95.00
XINGHUA URBAN CONSTRUCT      7.25    10/23/18    CNY      25.11
XINING CITY INVESTMENT       7.70    04/27/19    CNY      40.51
XINING ECONOMIC DEVELOP      5.90    06/04/20    CNY      59.95
XINJIANG FUYUN COUNTY S      8.67    03/05/20    CNY      51.35
XINJIANG SHIHEZI DEVELO      7.50    08/29/18    CNY      24.98
XINJIANG UYGUR AR HAMI       6.25    07/17/18    CNY      25.04
XINJIANG WUJIAQU URBAN       6.10    05/23/20    CNY      60.30
XINJIANG WUJIAQU URBAN       6.10    05/23/20    CNY      60.44
XINXIANG INVESTMENT GRO      5.85    04/15/20    CNY      59.70
XINXIANG INVESTMENT GRO      5.85    04/15/20    CNY      60.24
XINYANG HUAXIN INVESTME      6.95    06/14/19    CNY      40.31
XINYI CITY INVESTMENT &      7.39    10/15/20    CNY      61.16
XINYI CITY INVESTMENT &      7.39    10/15/20    CNY      61.23
XINYU CITY CONSTRUCTION      7.08    12/13/19    CNY      40.61
XINZHENG NEW DISTRICT D      6.52    06/28/19    CNY      50.08
XINZHENG NEW DISTRICT D      6.52    06/28/19    CNY      50.32
XINZHENG NEW DISTRICT D      6.40    01/29/21    CNY      74.50
XINZHENG NEW DISTRICT D      6.40    01/29/21    CNY      74.87
XINZHOU ASSET MANAGEMEN      7.39    08/08/18    CNY      25.03
XINZHOU ASSET MANAGEMEN      7.90    02/21/21    CNY      61.55
XINZHOU ASSET MANAGEMEN      8.50    12/18/20    CNY      61.91
XINZHOU ASSET MANAGEMEN      8.50    12/18/20    CNY      61.97
XINZHOU ASSET MANAGEMEN      7.90    02/21/21    CNY      62.01
XUANCHENG STATE-OWNED A      7.95    03/27/21    CNY      61.96
XUANCHENG STATE-OWNED A      7.95    03/27/21    CNY      62.24
XUCHANG GENERAL INVESTM      7.78    04/27/19    CNY      40.53
XUZHOU CITY TONGSHAN DI      6.60    08/08/20    CNY      60.66
XUZHOU CITY TONGSHAN DI      6.60    08/08/20    CNY      60.71
XUZHOU ECONOMIC TECHNOL      8.20    03/07/19    CNY      20.53
XUZHOU XINSHENG CONSTRU      7.48    05/08/18    CNY      25.06
XUZHOU XINSHENG CONSTRU      7.48    05/08/18    CNY      25.13
YAAN DEVELOPMENT INVEST      7.00    09/13/20    CNY      60.00
YAAN DEVELOPMENT INVEST      7.00    09/13/20    CNY      60.90
YAAN STATE-OWNED ASSET       7.39    07/04/19    CNY      40.20
YANCHENG CITY DAFENG DI      7.08    12/13/19    CNY      40.62
YANCHENG CITY DAFENG DI      7.08    12/13/19    CNY      60.59
YANCHENG CITY DAFENG DI      8.70    01/24/21    CNY      62.03
YANCHENG CITY DAFENG DI      8.50    12/30/20    CNY      62.82
YANCHENG CITY DAFENG DI      8.70    01/24/21    CNY      62.92
YANCHENG CITY DAFENG DI      8.50    12/30/20    CNY      80.60
YANCHENG CITY TINGHU DI      7.95    11/15/20    CNY      61.17
YANCHENG CITY TINGHU DI      7.95    11/15/20    CNY      61.27
YANCHENG ORIENTAL INVES      6.99    10/26/19    CNY      40.44
YANCHENG SOUTH DISTRICT      6.93    10/26/19    CNY      40.40
YANCHENG SOUTH DISTRICT      6.93    10/26/19    CNY      40.58
YANCHENG SOUTH DISTRICT      8.19    12/16/18    CNY      40.68
YANGJIANG HENGCAI CITY       6.85    09/09/20    CNY      60.89
YANGJIANG HENGCAI CITY       6.85    09/09/20    CNY      61.16
YANGZHOU CHEMICAL INDUS      8.58    01/24/21    CNY      61.66
YANGZHOU CHEMICAL INDUS      8.58    01/24/21    CNY      62.57
YANGZHOU HANJIANG URBAN      6.20    03/12/20    CNY      40.28
YANGZHOU HANJIANG URBAN      6.20    03/12/20    CNY      60.10
YANGZHOU LONGCHUAN HOLD      8.10    03/23/19    CNY      20.27
YANGZHOU LONGCHUAN HOLD      8.10    03/23/19    CNY      20.42
YANGZHOU URBAN CONSTRUC      6.30    07/26/19    CNY      40.27
YIBIN STATE-OWNED ASSET      5.80    05/23/18    CNY      40.05
YICHANG MUNICIPAL FINAN      7.12    10/16/19    CNY      40.60
YICHANG MUNICIPAL FINAN      7.12    10/16/19    CNY      40.65
YICHANG URBAN CONSTRUCT      6.85    11/08/19    CNY      40.50
YICHANG URBAN CONSTRUCT      6.85    11/08/19    CNY      40.60
YICHANG URBAN CONSTRUCT      8.13    11/17/19    CNY      53.71
YICHUN CITY CONSTRUCTIO      7.35    07/24/19    CNY      39.50
YICHUN CITY CONSTRUCTIO      7.35    07/24/19    CNY      39.80
YILI KAZAKH AUTONOMOUS       7.68    02/28/21    CNY      61.16
YILI KAZAKH AUTONOMOUS       7.68    02/28/21    CNY      61.45
YILI STATE-OWNED ASSET       6.70    11/19/18    CNY      25.06
YILI STATE-OWNED ASSET       6.70    11/19/18    CNY      25.15
YINGTAN INVESTMENT CO        7.50    12/12/22    CNY      72.40
YINING CITY STATE OWNED      8.90    01/23/21    CNY      63.28
YINING CITY STATE OWNED      8.90    01/23/21    CNY      90.00
YIXING CITY DEVELOPMENT      6.90    10/10/19    CNY      40.32
YIXING CITY DEVELOPMENT      6.90    10/10/19    CNY      40.36
YIYANG CITY CONSTRUCTIO      7.36    08/24/19    CNY      40.51
YIYANG CITY CONSTRUCTIO      7.36    08/24/19    CNY      40.52
YIYANG GAOXIN TECHNOLOG      6.70    03/13/20    CNY      40.20
YIYANG GAOXIN TECHNOLOG      6.70    03/13/20    CNY      40.27
YIZHENG CITY CONSTRUCTI      7.78    06/14/19    CNY      40.46
YIZHENG CITY CONSTRUCTI      8.60    01/09/21    CNY      61.61
YIZHENG CITY CONSTRUCTI      8.60    01/09/21    CNY      62.16
YONGZHOU CITY CONSTRUCT      7.30    10/23/20    CNY      61.38
YONGZHOU CITY CONSTRUCT      7.30    10/23/20    CNY      61.43
YONGZHOU CITY LINGLING       7.80    04/02/21    CNY      61.82
YUEYANG CITY CONSTRUCTI      6.05    07/12/20    CNY      59.50
YUEYANG CITY CONSTRUCTI      6.05    07/12/20    CNY      60.53
YUHUAN CITY COMMUNICATI      7.15    10/12/19    CNY      39.98
YUHUAN CITY COMMUNICATI      7.15    10/12/19    CNY      40.61
YULIN CITY INVESTMENT O      6.81    12/04/18    CNY      25.08
YULIN CITY INVESTMENT O      6.81    12/04/18    CNY      25.22
YULIN URBAN CONSTRUCTIO      6.88    11/26/19    CNY      40.20
YULIN URBAN CONSTRUCTIO      6.88    11/26/19    CNY      40.50
YUNCHENG URBAN CONSTRUC      7.48    10/15/19    CNY      40.82
YUSHEN ENERGY DEVELOPME      8.50    02/21/21    CNY      62.15
YUSHEN ENERGY DEVELOPME      8.50    02/21/21    CNY      62.17
YUYAO ECONOMIC DEVELOPM      6.75    03/04/20    CNY      40.36
YUYAO ECONOMIC DEVELOPM      6.75    03/04/20    CNY      40.51
YUYAO WATER RESOURCE IN      7.20    10/16/19    CNY      40.58
ZHANGJIAGANG FREE TRADE      7.10    08/23/20    CNY      60.96
ZHANGJIAGANG FREE TRADE      7.10    08/23/20    CNY      61.04
ZHANGJIAGANG MUNICIPAL       6.43    11/27/19    CNY      40.48
ZHANGJIAJIE ECONOMIC DE      7.40    10/18/19    CNY      40.70
ZHANGJIAKOU CONSTRUCTIO      7.00    10/26/19    CNY      40.40
ZHANGJIAKOU TONGTAI HOL      6.90    07/05/18    CNY      40.08
ZHANGZHOU CITY CONSTRUC      6.60    03/26/20    CNY      40.58
ZHANJIANG INFRASTRUCTUR      6.93    10/21/20    CNY      61.27
ZHAOYUAN STATE-OWNED AS      6.64    12/31/19    CNY      40.70
ZHEJIANG CHANGXING VIA       7.99    03/03/21    CNY      61.60
ZHEJIANG CHANGXING VIA       7.99    03/03/21    CNY      61.79
ZHEJIANG HUZHOU HUANTAI      6.70    11/28/19    CNY      40.42
ZHEJIANG JIASHAN ECONOM      7.05    12/03/19    CNY      40.41
ZHEJIANG JIASHAN ECONOM      7.05    12/03/19    CNY      40.65
ZHEJIANG PROVINCE DEQIN      6.90    04/12/18    CNY      40.00
ZHEJIANG PROVINCE DEQIN      6.40    02/22/20    CNY      40.22
ZHEJIANG PROVINCE XINCH      6.60    04/24/20    CNY      60.34
ZHEJIANG PROVINCE XINCH      6.60    04/24/20    CNY      60.34
ZHENGZHOU PUBLIC HOUSIN      5.98    07/17/20    CNY      60.24
ZHENGZHOU PUBLIC HOUSIN      5.98    07/17/20    CNY      60.44
ZHENJIANG CITY CONSTRUC      7.90    12/18/20    CNY      60.93
ZHENJIANG CITY CONSTRUC      8.20    01/13/21    CNY      62.06
ZHENJIANG CITY CONSTRUC      7.90    12/18/20    CNY      67.00
ZHENJIANG CITY CONSTRUC      8.20    01/13/21    CNY      71.00
ZHENJIANG CULTURE AND T      6.60    01/30/20    CNY      40.16
ZHENJIANG NEW AREA URBA      8.35    02/26/21    CNY      61.01
ZHENJIANG NEW AREA URBA      8.99    01/16/21    CNY      62.40
ZHENJIANG TRANSPORTATIO      7.29    05/08/19    CNY      40.01
ZHONGSHAN TRANSPORTATIO      6.65    08/28/18    CNY      25.00
ZHONGSHAN TRANSPORTATIO      6.65    08/28/18    CNY      25.10
ZHONGWEI CITY CONSTRUCT      8.20    03/26/21    CNY      62.19
ZHONGWEI CITY CONSTRUCT      8.20    03/26/21    CNY      82.11
ZHOUSHAN DINGHAI STATE-      7.25    08/31/20    CNY      55.67
ZHOUSHAN DINGHAI STATE-      7.25    08/31/20    CNY      56.22
ZHUCHENG ECONOMIC DEVEL      6.40    04/26/18    CNY      20.00
ZHUCHENG ECONOMIC DEVEL      6.40    04/26/18    CNY      20.02
ZHUCHENG ECONOMIC DEVEL      7.50    08/25/18    CNY      21.35
ZHUCHENG ECONOMIC DEVEL      6.80    11/29/19    CNY      40.42
ZHUHAI HUAFA GROUP CO L      5.50    06/05/19    CNY      50.03
ZHUHAI HUAFA GROUP CO L      5.50    06/05/19    CNY      50.12
ZHUHAI HUIHUA INFRASTRU      7.15    09/17/20    CNY      60.93
ZHUJI CITY CONSTRUCTION      6.92    07/05/18    CNY      40.15
ZHUJI CITY CONSTRUCTION      6.92    12/19/19    CNY      40.62
ZHUJI CITY YUEDU INVEST      8.20    12/12/20    CNY      61.86
ZHUJI CITY YUEDU INVEST      8.20    12/12/20    CNY      61.99
ZHUMADIAN INVESTMENT CO      6.95    11/26/19    CNY      40.66
ZHUMADIAN INVESTMENT CO      6.95    11/26/19    CNY      40.66
ZHUZHOU CITY CONSTRUCTI      6.95    10/16/20    CNY      61.31
ZHUZHOU GECKOR GROUP CO      7.82    08/18/18    CNY      40.30
ZHUZHOU GECKOR GROUP CO      7.82    08/18/18    CNY      40.31
ZHUZHOU GECKOR GROUP CO      7.50    09/10/19    CNY      40.57
ZHUZHOU GECKOR GROUP CO      7.50    09/10/19    CNY      40.69
ZHUZHOU YUNLONG DEVELOP      6.78    11/19/19    CNY      40.31
ZHUZHOU YUNLONG DEVELOP      6.78    11/19/19    CNY      40.50
ZIBO CITY PROPERTY CO L      5.45    04/27/19    CNY      24.03
ZIBO CITY PROPERTY CO L      6.83    08/22/19    CNY      40.10
ZIBO CITY PROPERTY CO L      6.83    08/22/19    CNY      40.61
ZIGONG GAOXIN INVESTMEN      6.30    03/13/20    CNY      40.32
ZIGONG STATE-OWNED ASSE      6.86    06/17/18    CNY      39.97
ZIYANG CITY CONSTRUCTIO      7.58    01/09/19    CNY      25.16
ZIYANG WATER INVESTMENT      7.40    10/21/20    CNY      61.10
ZIYANG WATER INVESTMENT      7.40    10/21/20    CNY      61.33
ZOUCHENG CITY ASSET OPE      6.18    03/12/19    CNY      24.99
ZOUCHENG CITY ASSET OPE      6.18    03/12/19    CNY      25.02
ZOUPING COUNTY STATE-OW      6.98    04/27/18    CNY      40.00
ZOUPING COUNTY STATE-OW      7.30    02/24/21    CNY      61.73
ZOUPING COUNTY STATE-OW      7.30    02/24/21    CNY      62.05
ZUNYI CITY HUICHUAN DIS      6.75    04/24/19    CNY      50.03
ZUNYI INVESTMENT GROUP       8.53    03/13/19    CNY      20.90
ZUNYI INVESTMENT GROUP       8.53    03/13/19    CNY      20.92
ZUNYI ROAD & BRIDGE ENG      7.15    08/17/20    CNY      55.60
ZUNYI STATE-OWNED ASSET      6.98    12/26/19    CNY      40.00
ZUNYI STATE-OWNED ASSET      6.98    12/26/19    CNY      41.00


HONG KONG
---------

CHINA CITY CONSTRUCTION      5.35    07/03/17    CNY      69.88


INDONESIA
---------

BERAU COAL ENERGY TBK P      7.25    03/13/17    USD      49.74
BERAU COAL ENERGY TBK P      7.25    03/13/17    USD      51.97
DAVOMAS INTERNATIONAL F     11.00    12/08/14    USD       0.55
DAVOMAS INTERNATIONAL F     11.00    12/08/14    USD       0.55
DAVOMAS INTERNATIONAL F     11.00    05/09/11    USD       0.55
DAVOMAS INTERNATIONAL F     11.00    05/09/11    USD       0.55


INDIA
-----

3I INFOTECH LTD              2.50    03/31/25    USD      12.88
CORE EDUCATION & TECHNO      7.00    05/07/49    USD       0.59
GTL INFRASTRUCTURE LTD       6.73    10/26/22    USD      74.48
JAIPRAKASH ASSOCIATES L      5.75    09/08/17    USD      55.25
JAIPRAKASH POWER VENTUR      7.00    02/13/49    USD       5.00
JCT LTD                      2.50    04/08/11    USD      26.03
PRAKASH INDUSTRIES LTD       5.25    04/30/15    USD      21.00
PYRAMID SAIMIRA THEATRE      1.75    07/04/12    USD       1.00
RELIANCE COMMUNICATIONS      6.50    11/06/20    USD      61.41
SVOGL OIL GAS & ENERGY       5.00    08/17/15    USD       1.55
VIDEOCON INDUSTRIES LTD      2.80    12/31/20    USD      60.00


JAPAN
-----

TAKATA CORP                  0.58    03/26/21    JPY       5.13
TAKATA CORP                  0.85    03/06/19    JPY       5.13
TAKATA CORP                  1.02    12/15/17    JPY       8.75


KOREA
-----

2016 KIBO 1ST SECURITIZ      5.00    09/13/18    KRW      73.98
DOOSAN CAPITAL SECURITI     20.00    04/22/19    KRW      62.03
HEUNGKUK FIRE & MARINE       5.70    12/29/46    KRW      50.15
KIBO ABS SPECIALTY CO L      5.00    12/25/19    KRW      70.32
KIBO ABS SPECIALTY CO L      5.00    08/29/19    KRW      71.28
KIBO ABS SPECIALTY CO L      5.00    02/26/19    KRW      72.42
KIBO ABS SPECIALTY CO L      5.00    02/25/19    KRW      72.69
KOREA TREASURY BOND          1.50    09/10/66    KRW      69.79
OKC SECURITIZATION SPEC     10.00    01/03/20    KRW      36.38
SAMPYO CEMENT CO LTD         7.30    04/12/15    KRW      70.00
SAMPYO CEMENT CO LTD         7.50    04/20/14    KRW      70.00
SAMPYO CEMENT CO LTD         7.50    09/10/14    KRW      70.00
SAMPYO CEMENT CO LTD         7.50    07/20/14    KRW      70.00
SAMPYO CEMENT CO LTD         7.30    06/26/15    KRW      70.00
SINBO SECURITIZATION SP      5.00    10/30/19    KRW      66.41
SINBO SECURITIZATION SP      5.00    06/23/20    KRW      68.92
SINBO SECURITIZATION SP      5.00    03/15/20    KRW      69.67
SINBO SECURITIZATION SP      5.00    02/28/21    KRW      70.01
SINBO SECURITIZATION SP      5.00    01/27/21    KRW      70.27
SINBO SECURITIZATION SP      5.00    12/22/20    KRW      70.55
SINBO SECURITIZATION SP      5.00    09/23/20    KRW      71.29
SINBO SECURITIZATION SP      5.00    08/26/20    KRW      71.51
SINBO SECURITIZATION SP      5.00    07/28/20    KRW      71.73
SINBO SECURITIZATION SP      5.00    06/24/19    KRW      71.79
SINBO SECURITIZATION SP      5.00    03/13/19    KRW      72.55
SINBO SECURITIZATION SP      5.00    02/25/20    KRW      72.97
SINBO SECURITIZATION SP      5.00    01/28/20    KRW      73.20
SINBO SECURITIZATION SP      5.00    12/30/19    KRW      73.44
SINBO SECURITIZATION SP      5.00    09/30/19    KRW      74.22
SINBO SECURITIZATION SP      5.00    07/29/18    KRW      74.34
SINBO SECURITIZATION SP      5.00    08/27/19    KRW      74.49
SINBO SECURITIZATION SP      5.00    06/25/18    KRW      74.64
SINBO SECURITIZATION SP      5.00    07/29/19    KRW      74.72
SINBO SECURITIZATION SP      5.00    05/26/18    KRW      74.95
SINBO SECURITIZATION SP      5.00    06/25/19    KRW      75.00
WISE MOBILE SECURITIZAT     20.00    09/17/18    KRW      74.04


SRI LANKA
---------

SRI LANKA GOVERNMENT BO      5.35    03/01/26    LKR      73.42


MALAYSIA
--------

AEON CREDIT SERVICE M B      3.50    09/15/20    MYR       1.11
ASIAN PAC HOLDINGS BHD       3.00    05/25/22    MYR       0.76
BERJAYA CORP BHD             2.00    05/29/26    MYR       0.32
BERJAYA CORP BHD             5.00    04/22/22    MYR       0.43
BRIGHT FOCUS BHD             2.50    01/22/31    MYR      73.62
ELK-DESA RESOURCES BHD       3.25    04/14/22    MYR       0.95
HIAP TECK VENTURE BHD        5.00    06/27/21    MYR       0.42
I-BHD                        3.00    10/09/19    MYR       0.36
IRE-TEX CORP BHD             1.00    06/10/19    MYR       0.02
LAND & GENERAL BHD           1.00    09/24/18    MYR       0.11
PERODUA GLOBAL MANUFACT      0.50    12/17/25    MYR      67.45
PUC BHD                      4.00    02/15/19    MYR       0.20
REDTONE INTERNATIONAL B      2.75    03/04/20    MYR       0.10
SENAI-DESARU EXPRESSWAY      1.35    06/30/31    MYR      55.80
SENAI-DESARU EXPRESSWAY      1.35    12/31/30    MYR      57.15
SENAI-DESARU EXPRESSWAY      1.35    06/28/30    MYR      58.52
SENAI-DESARU EXPRESSWAY      1.35    12/31/29    MYR      59.85
SENAI-DESARU EXPRESSWAY      1.35    12/29/28    MYR      62.57
SENAI-DESARU EXPRESSWAY      1.35    06/30/28    MYR      63.96
SENAI-DESARU EXPRESSWAY      1.35    12/31/27    MYR      65.36
SENAI-DESARU EXPRESSWAY      1.35    06/30/27    MYR      66.78
SENAI-DESARU EXPRESSWAY      1.35    06/30/26    MYR      69.68
SENAI-DESARU EXPRESSWAY      1.15    06/30/25    MYR      71.54
SENAI-DESARU EXPRESSWAY      1.15    12/31/24    MYR      73.17
SENAI-DESARU EXPRESSWAY      0.50    12/31/38    MYR      74.44
SENAI-DESARU EXPRESSWAY      1.15    06/28/24    MYR      74.89
SOUTHERN STEEL BHD           5.00    01/24/20    MYR       1.68
THONG GUAN INDUSTRIES B      5.00    10/10/19    MYR       2.55
UNIMECH GROUP BHD            5.00    09/18/18    MYR       0.95
VIZIONE HOLDINGS BHD         3.00    08/08/21    MYR       0.07


NEW ZEALAND
-----------

PRECINCT PROPERTIES NEW      4.80    09/27/21    NZD       1.01


PHILIPPINES
-----------

BAYAN TELECOMMUNICATION     13.50    07/15/06    USD      22.75
BAYAN TELECOMMUNICATION     13.50    07/15/06    USD      22.75


SINGAPORE
---------

ASL MARINE HOLDINGS LTD      6.00    03/28/20    SGD      46.88
ASL MARINE HOLDINGS LTD      6.35    10/01/21    SGD      46.88
AUSGROUP LTD                 8.45    10/20/18    SGD      60.00
BAKRIE TELECOM PTE LTD      11.50    05/07/15    USD       1.00
BAKRIE TELECOM PTE LTD      11.50    05/07/15    USD       1.00
BERAU CAPITAL RESOURCES     12.50    07/08/15    USD      49.72
BERAU CAPITAL RESOURCES     12.50    07/08/15    USD      50.36
BLD INVESTMENTS PTE LTD      8.63    03/23/15    USD       4.80
BLUE OCEAN RESOURCES PT      4.00    12/31/20    USD      25.89
ENERCOAL RESOURCES PTE       9.25    08/05/14    USD      38.11
EZION HOLDINGS LTD           4.88    06/11/21    SGD      14.84
EZION HOLDINGS LTD           4.70    05/22/19    SGD      14.88
EZION HOLDINGS LTD           4.60    08/20/18    SGD      14.88
EZION HOLDINGS LTD           5.10    03/13/20    SGD      14.88
EZION HOLDINGS LTD           4.85    01/23/19    SGD      14.88
EZRA HOLDINGS LTD            4.88    04/24/18    SGD       6.05
INDO INFRASTRUCTURE GRO      2.00    07/30/10    USD       1.00
INNOVATE CAPITAL PTE LT      6.00    12/11/24    USD      69.13
MICLYN EXPRESS OFFSHORE      8.75    11/25/18    USD      36.70
ORO NEGRO DRILLING PTE       7.50    01/24/19    USD      42.96
OSA GOLIATH PTE LTD         12.00    10/09/18    USD       2.56
PACIFIC RADIANCE LTD         4.30    08/29/18    SGD      11.13
RICKMERS MARITIME            8.45    05/15/17    SGD       5.00
SWIBER CAPITAL PTE LTD       6.50    08/02/18    SGD       4.20
SWIBER CAPITAL PTE LTD       6.25    10/30/17    SGD       4.20
SWIBER HOLDINGS LTD          7.75    09/18/17    CNY       7.75
SWIBER HOLDINGS LTD          7.13    04/18/17    SGD       7.75
SWIBER HOLDINGS LTD          5.55    10/10/16    SGD      12.25
TRIKOMSEL PTE LTD            5.25    05/10/16    SGD      16.00
TRIKOMSEL PTE LTD            7.88    06/05/17    SGD      16.00


THAILAND
--------

G STEEL PCL                  3.00    10/04/15    USD       0.53
MDX PCL                      4.75    09/17/03    USD      30.00


VIETNAM
-------

DEBT AND ASSET TRADING       1.00    10/10/25    USD      69.62
DEBT AND ASSET TRADING       1.00    10/10/25    USD      71.75



                             *********

Tuesday's edition of the TCR-AP delivers a list of indicative
prices for bond issues that reportedly trade well below par.
Prices are obtained by TCR-AP 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 Tuesday
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-AP constitutes an offer
or solicitation to buy or sell any security of any kind.  It is
likely that some entity affiliated with a TCR-AP editor holds
some position in the issuers' public debt and equity securities
about which we report.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR-AP. Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com

Friday's edition of the TCR-AP features a list of companies with
insolvent balance sheets obtained by our editors based on the
latest balance sheets publicly available a day prior to
publication.  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.


                            *********


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-Asia Pacific is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Marites O. Claro, Joy A. Agravante, Rousel Elaine T. Fernandez,
Julie Anne L. Toledo, Ivy B. Magdadaro and Peter A. Chapman,
Editors.

Copyright 2018.  All rights reserved.  ISSN: 1520-9482.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding,
electronic re-mailing and photocopying) is strictly prohibited
without prior written permission of the publishers.
Information contained herein is obtained from sources believed
to be reliable, but is not guaranteed.

TCR-AP subscription rate is US$775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance
thereof are US$25 each.  For subscription information, contact
Peter Chapman at 215-945-7000.



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