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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, February 11, 2020, Vol. 23, No. 30

                           Headlines



A U S T R A L I A

BAY BON: Second Creditors' Meeting Set for Feb. 17
GLOBAL TRAVEL: Second Creditors' Meeting Set for Feb. 17
KLEENMAID: Former Director Jailed for Fraud and Insolvent Trading
LIBERTY SERIES 2020-1: Moody's Rates AUD12MM Class F Notes 'B1'
SPEEDCAST INTERNATIONAL: Ditches CEO and Reviews FY19 Downgrade

SPEEDCAST INTERNATIONAL: S&P Cuts ICR to CCC, Outlook Neg.


C H I N A

[*] Car Factories Idled by Virus Raise Risks to Global Growth


H O N G   K O N G

J.CREW GROUP: To Shut Hong Kong Stores as Sales Plunge
NOBLE GROUP: Hires Jacques Enri as New Group CFO


I N D I A

BIOMEDICON CARE: CRISIL Lowers Rating on INR11cr Loan to B+
EASTERN TRAVELS: Ind-Ra Maintains BB LT Rating in Non-Cooperating
FAIR DEAL: CRISIL Lowers Rating on INR43.5cr Cash Loan to B+
GAUTAM MALHOTRA: CRISIL Cuts Rating on INR6cr Cash Loan to 'B'
JAYPEE INFRATECH: SC Gives 4-Week Insolvency Process Extension

NEERAJ PAPER: Ind-Ra Affirms BB+ Rating & Moves to Non-Cooperating
NIRMAAN RMBS: CRISIL Cuts Rating on Two PTCs to D(SO)
R.S.V. COTTON: CRISIL Maintains 'D' Rating in Not Cooperating
RADHA STEEL: Ind-Ra Affirms 'BB-' LT Issuer Rating, Outlook Stable
RAJDHANI COLD: CRISIL Keeps B+ Rating in Not Cooperating Category

RAMNANDI ESTATE: CRISIL Keeps 'D' Rating in Not Cooperating
RELIABLE INFRASTRUCTURE: CRISIL Keeps D Rating in Not Cooperating
RITISHA OILS: CRISIL Maintains 'D' Rating in Not Cooperating
SABITRI RICE: CRISIL Maintains 'C' Rating in Not Cooperating
SAIDEEP CARS: CRISIL Maintains 'C' Rating in Not Cooperating

SANGDEEP ACID-CHEM: CRISIL Maintains B+ Rating in Not Cooperating
SANKAR JP: CRISIL Lowers Rating on INR9.5cr Cash Loan to B+
SAWARIYA INTERNATIONAL: CRISIL Keeps B+ Rating in Not Cooperating
SHAKTI ENTERPRISES: CRISIL Keeps B- Rating in Not Cooperating
SHANKHESHWAR PROPERTIES: CRISIL Keeps B Rating in Not Cooperating

SHARVI AGRO: CRISIL Maintains B+ Rating in Not Cooperating
SHIV SHAKTI: CRISIL Maintains B+ Rating in Not Cooperating
SHREE KRISHNA: CRISIL Maintains 'B' Rating in Not Cooperating
SHREE SAINARAYAN: CRISIL Maintains 'D' Rating in Not Cooperating
SNEHMANGAL DEVELOPERS: CRISIL Keeps B Rating in Not Cooperating

SOLAMALAI AUTOMOBILES: CRISIL Keeps B Rating in Not Cooperating
SRI BHAGYALAKSHMI: CRISIL Cuts Rating on INR12cr Loan to B+
SRI GAYATHRI: CRISIL Maintains 'B' Rating in Not Cooperating
SRI LAKSHMI: CRISIL Maintains 'B+' Rating in Not Cooperating
SWASTIK COAL: CRISIL Maintains 'D' Rating in Not Cooperating

U.S. IMPEX: CRISIL Migrates 'B' Rating to Not Cooperating
VAMSADHARA GINNING: CRISIL Migrates 'B' Rating to Not Cooperating
VEMPARALA VENKAT: CRISIL Cuts Rating on INR5.4cr Loan to 'D'
YES MOTORS: CRISIL Migrates 'B+' Rating to Not Cooperating


I N D O N E S I A

PAN BROTHERS: Moody's Affirms B1 CFR, Alters Outlook to Negative


M A L A Y S I A

KINSTEEL BHD: Gets 3-Month Extension to Submit Regularisation Plan


S I N G A P O R E

HYFLUX LTD: Simon Tay Steps Down as Director
[*] SINGAPORE: Lists 109 Firms That Must Report Quarterly Earnings


X X X X X X X X

[*] BOND PRICING: For the Week Feb. 3, 2020 to Feb. 7, 2020

                           - - - - -


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

BAY BON: Second Creditors' Meeting Set for Feb. 17
--------------------------------------------------
A second meeting of creditors in the proceedings of Bay Bon
Investments Pty Ltd has been set for Feb. 17, 2020, at 11:30 a.m.
at the offices of Worrells Solvency & Forensic Accountants Level 8,
at 102 Adelaide 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 Feb. 16, 2020, at 5:00 p.m.

Lee Crosthwaite of Worrells Solvency & Forensic Accountant was
appointed as administrator of Bay Bon on Jan. 13, 2020.

GLOBAL TRAVEL: Second Creditors' Meeting Set for Feb. 17
--------------------------------------------------------
A second meeting of creditors in the proceedings of:

   -- Global Travel Holdings Pty Ltd;
   -- Excite Holidays (Australia) Pty Ltd;
   -- Global Travel Specialists Pty Ltd;
   -- Events NG Pty Ltd; and
   -- Travel Serv Co Pty Ltd

has been set for Feb. 17, 2020, at 11:00 a.m. at Wesley Conference
Centre, 220 Pitt St, 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 Feb. 14, 2020, at 4:00 p.m.

Morgan Kelly, Phil Quinlan and Amanda Coneyworth of KPMG were
appointed as administrators of Global Travel et. al on Jan. 10,
2020.


KLEENMAID: Former Director Jailed for Fraud and Insolvent Trading
-----------------------------------------------------------------
A former director of the Kleenmaid group of companies, Mr. Andrew
Eric Young was sentenced to nine years' imprisonment on Feb. 7,
2020 after being found guilty by a District Court jury of 19
offences arising out of the collapse of the national whitegoods
distributor.

Following a trial which lasted for 59 days, on Jan. 10, 2020, the
jury found Mr. Young guilty of:

   * Count 1: one count of fraud by dishonestly gaining loan
     facilities from Westpac in November 2007 totalling
     AUD13 million;

   * Counts 2 & 3: two counts of criminal insolvent trading of
     debts of AUD3.5 million relating to two additional loan
     facilities obtained by one of the Kleenmaid companies, EDIS
     Service Logistics Pty Ltd (EDIS) from Westpac in July 2008;

   * Counts 4 to 17 and 19:fifteen counts of criminal insolvent
     trading of debts amounting to more than AUD750,000 that were
     incurred during the period October 2008 to April 2009; and

   * Count 20, one further count of fraud by dishonestly causing
     AUD330,000 to be withdrawn from a Kleenmaid company bank
     account two days prior to administrators being appointed and
     transferred to a bank account held by a company in which
     Mr. Young held an interest and from which he and his wife
     would benefit from the payment.

Mr Young was convicted on two counts of fraud and sentenced to a
term of imprisonment of nine years with a non-parole period of four
years. The parole date for the fraud offences was set at 9 January
2024.  Mr. Young was convicted of 17 counts of insolvent trading
for which he was sentenced to a total of three years imprisonment
to commence from the parole eligibility date for the fraud, and
after serving 12 months imprisonment, Mr. Young will be eligible
for release upon entering into a recognizance of AUD500 to be of
good behavior for two years.

In passing sentence, Judge Devereaux SC said 'It would be obnoxious
and naive to consider these types of offences as victimless . . .'
and that 'people in the community must be put on notice that
dishonesty will bring with it commensurate punishment.'

ASIC Commissioner John Price noted the sentencing of Mr. Andrew
Young concluded ASIC's criminal proceedings against the Kleenmaid
directors.

Mr Price said, 'Mr Young's lengthy imprisonment reflects the
seriousness of this matter and should serve as a strong warning to
company directors of the consequences where misconduct is
established.'

Mr Price noted the proceedings against Mr. Andrew Young and his
co-accused were the culmination of an extensive and complex
investigation by ASIC and prosecution of the charges by the
Commonwealth Director of Public Prosecutions.

'ASIC will continue its efforts to ensure directors and company
officers meet their obligations, establish and maintain strong
corporate governance standards and to bring those who fail in their
duties to account' Mr. Price said.

                          About Kleenmaid

Kleenmaid was a white goods importer and retailer which operated a
chain of company and franchised stores across Australia.  The
business was founded by Andrew Young in 1980.

Based on Queensland's sunshine coast, the Kleenmaid group of
companies employed about 200 staff Australia wide.

Administrators were appointed to the Kleenmaid group of companies
on April 9, 2009.  The consolidated debts of the Kleenmaid group
amounted to approximately AUD96 million, which included AUD26
million in customer deposits that had been paid for appliances yet
to be delivered.

In February 2012, the three former directors of the Kleenmaid
group, Andrew Eric Young, Bradley Wendell Young and Gary Collyer
Armstrong appeared in court for the first time on criminal charges
following an investigation being conducted by ASIC.

The registration of Wayne John Wessels, the former auditor of the
Kleenmaid group, was suspended for three years on Nov. 29, 2013 by
the Companies Auditors and Liquidators Disciplinary Board,
following a successful application by ASIC.

Mr Armstrong pleaded guilty to one count of fraud and two counts of
insolvent trading on Aug. 24, 2015 and was subsequently sentenced
to five and a half years' jail.

Following a 71 day trial, Bradley Young was found guilty of one
count of fraud totalling AUD13 million and 17 counts of criminal
insolvent trading of debts amounting to more than AUD4 million. The
jury found him not guilty of one count of insolvent trading. He was
sentenced to nine years' imprisonment for fraud and a total of
three and a half years for the insolvent trading charges.  At the
time the offences were committed, Bradley Young was the managing
director of EDIS.

On Aug. 29, 2017, a trial was commenced in relation to Andrew
Young. The trial was aborted on Oct. 20, 2017 for reasons including
the accused's medical condition.

A new trial was commenced on Sept. 16, 2019 in relation to Andrew
Young and after 59 days a jury found him guilty of all 19 charges.

At the time the offences were committed, Mr. Young was found to be
acting as a "shadow director" of EDIS.  Shadow directors can still
be liable for breaches of the laws relating to directors' duties,
even though they were never formally appointed as a director of the
company, if they act as a director or give instructions to the
appointed directors on how they should act.

LIBERTY SERIES 2020-1: Moody's Rates AUD12MM Class F Notes 'B1'
---------------------------------------------------------------
Moody's Investors Service has assigned definitive ratings to the
notes issued by Liberty Funding Pty Ltd in respect of Liberty
Series 2020-1 Auto (Trust).

Issuer: Liberty Series 2020-1 Auto

AUD 225.0 million Class A Notes, Assigned Aaa (sf);

AUD 23.1 million Class B Notes, Assigned Aa2 (sf);

AUD 13.5 million Class C Notes, Assigned A2 (sf);

AUD 10. 5 million Class D Notes, Assigned Baa2 (sf);

AUD 14.4 million Class E Notes, Assigned Ba2 (sf);

AUD 12.0 million Class F Notes, Assigned B1 (sf);

The AUD 1.5 million Class G Notes are not rated by Moody's.

The transaction is a securitisation of a portfolio of Australian
consumer auto loans, secured by motor vehicles, originated by
Liberty Financial Pty Ltd (Liberty, unrated).

RATINGS RATIONALE

The definitive ratings take into account, among other factors:

  - The evaluation of the underlying receivables and their expected
performance,

  - Historical performance of Liberty's consumer auto loans,

  - The evaluation of the capital structure,

  - The availability of excess spread over the life of the
transaction,

  - The liquidity facility in the amount of 2.00% of the initial
balance of all rated notes,

  - The interest rate swap provided by National Australia Bank
Limited (Aa3/P-1/Aa2(cr)/P-1(cr)),

The Class A, Class B, Class C, Class D, Class E and Class F Notes
are supported by 25.00%, 17.30%, 12.80%, 9.30%, 4.50% and 0.50%
subordination, respectively. The notes will be repaid on a
sequential basis until the subordination percentage on Class A
Notes increases from the initial 25.0% to 35.0% following which,
should the step down conditions also be met, principal collections
will be distributed to Class A, Class B, Class C, Class D, Class E
and Class F Notes on a pro rata basis. The Class G Notes do not
step down and will only receive principal payments once all other
notes have been repaid. The transaction will revert to a sequential
repayment once the transaction reaches the 10% pool factor.

The transaction includes a three-month prefunding period, whereby
Liberty Funding Pty Ltd will issue notes up to AUD 300 million,
based on the initial pool of AUD 250.0 million. During the
three-month prefunding period Liberty may originate loans up to the
prefunding amount of AUD 50.0 million, which can be sold into the
trust.

MAIN MODEL ASSUMPTIONS

Moody's base case assumptions are a default rate of 6.75%, a
recovery rate of 37.5% and a portfolio credit enhancement (PCE) of
28.0%. After accounting for the seasoning of the initial portfolio
(7.7 months), Moody's mean default rate assumption was adjusted to
7.3%. Moody's assumed mean default rate and recovery rate are
stressed compared to the historical levels of 5.90% (based on
origination vintages from 2008 to 2018) and 55.0% (based on
origination vintages from 2008 to 2018) respectively. Moody's
default rate analysis focused on historical performance post 2008
which is when Liberty reduced the volume of adverse credit history
loan origination. The stress addresses the lack of economic stress
during the historical data period.

Methodology Underlying the Rating Action:

The principal methodology used in these ratings was "Moody's Global
Approach to Rating Auto Loan- and Lease-Backed ABS" published in
March 2019.

Factors that would lead to an upgrade or downgrade of the ratings:

A factor that could lead to an upgrade of the notes is
better-than-expected collateral performance and a rapid build-up of
credit enhancement.

A factor that could lead to a downgrade of the notes is
worse-than-expected collateral performance. Other reasons that
could lead to a downgrade include poor servicing, error on the part
of transaction parties, a deterioration in the credit quality of
transaction counterparties, lack of transactional governance and
fraud.

SPEEDCAST INTERNATIONAL: Ditches CEO and Reviews FY19 Downgrade
---------------------------------------------------------------
Colin Kruger at The Sydney Morning Herald reports that Speedcast
International Limited remained in a trading halt on Feb. 4 despite
ditching its chief executive and issuing a earnings downgrade as
the board reviews "all elements of the preliminary FY19 result".

According to the report, the company announced that chief executive
PJ Beylier, whose acquisition spree has left the company with debt
problems and an underperforming business, resigned on Feb. 2 after
he indicated to the board the FY19 result would be more than 10 per
cent below previous guidance.

"2019 was a challenging year for Speedcast. The quality of the
financial result is not in line with the board and management's
expectations," the report quotes Mr. Beylier as saying.

According to the announcement from Speedcast, the downgraded result
included items such as procurement savings and the sale of minor
surplus assets that do not contribute to ongoing earnings, SMH
relays.

As the core result and these non-trading items might not be within
the range anticipated by the market, the board said it was giving
the result closer scrutiny to see if any other matters should be
accounted for in FY19, and if "additional market disclosures are
required".

The ASX lodged a clarification on Feb. 3 saying that, unless it
decides otherwise, the trading halt will remain in place until Feb.
5 or an announcement is made by the company, according to SMH.

SMH says Speedcast shocked the market last August with a AUD175.6
million loss, which led its auditors to warn about the "material
uncertainty" over its ability to continue as a going concern due to
the loss, cash outflows and a $US655 million debt load.

Speedcast directors Peter Shaper and Joe Spytek will run the
company while it searches for a new CEO, the report notes.

The board, lead by Stephe Wilkes, said it would be looking at ways
to strengthen the balance sheet with the sale of non-core assets,
SMH adds.

                          About Speedcast

Based in Australia, Speedcast International Limited --
https://www.speedcast.com/ -- provide satellite services. The
Company offers a range of products and services, such as network
service, value added services, equipment sales and wholesale Voice
over Internet Protocol (VoIP).

As reported in the Troubled Company Reporter-Asia Pacific on Feb.
7, 2020, Moody's Investors Service downgraded to B3 from B2
Speedcast International Limited's corporate family and senior
secured term loan ratings.  The rating outlook remains negative.

SPEEDCAST INTERNATIONAL: S&P Cuts ICR to CCC, Outlook Neg.
----------------------------------------------------------
On Feb. 10, 2020, S&P Global Ratings lowered its issuer credit
rating and associated issue ratings on Speedcast International Ltd.
to 'CCC' from 'B-'. The recovery rating on the company's senior
secured debt remains at '4' (45%), indicating average recovery
prospects upon payment default.

S&P said, "We lowered the ratings to reflect our view that
persisting weak operating performance has heightened the risk of
covenant breach or payment default during the next 12 months. We
believe that Speedcast's aggressive growth strategy, cost cutting,
and failure to effectively integrate prior acquisitions have eroded
the quality of its earnings and cash generation." This, together
with an increasingly competitive operating environment, has
pressured the group's operating margins and access to liquidity. As
a result, S&P's base case incorporates the heightened risk of a
covenant breach or payment default over the next 12 months.
Speedcast's temporary covenant relief lapses after Dec. 31, 2020,
reducing the debt-to-EBITDA (as defined in the loan agreement)
covenant limit to 4.0x from 4.5x.

S&P said, "In our view, Speedcast's capital structure is
unsustainable. Speedcast is looking to accelerate its deleveraging
plans via the sale of noncore assets. We view this strategy as
logical and prudent. However, we do not incorporate any potential
asset sales into our base-case scenario, given the uncertainties
associated with the likelihood, timing, and proceeds of any asset
sale." Moreover, it is not immediately clear whether the potential
proceeds will be sufficient to alleviate the company's liquidity
concerns. Nevertheless, the strategy should improve the company's
standing in funding markets.

S&P said, "In our opinion, the company's new leadership
acknowledges the gravity of the task ahead, has adopted a more
focused approach to balance sheet repair, and is undertaking a
comprehensive review of the business. We believe the company's
revised strategy could provide a path through Speedcast's
operational and funding difficulties." That said, continued change
in the company's management team, limited available capital, and an
increasingly challenging operating environment raise the risks
around execution and the ability to drive cultural change. Two
directors have taken on the interim leadership role as the company
searches for a new CEO.

The negative outlook reflects the heightened risk of covenant
breach or payment default over the next 12 months, as a new
management team attempts to stabilize earnings and boost liquidity
against a challenging operating environment. S&P's base case does
not incorporate any potential asset sales.

S&P said, "We could lower the rating if any further deterioration
in Speedcast's operating performance erodes its access to capital,
or precipitates a restructuring of the group's debt facilities.

"Upward rating pressure could occur if we believe that management
has 1) successfully and sustainably stabilized the group's earnings
base and, 2) sufficiently strengthened the balance sheet to support
the company's ongoing access to capital, which would most likely
occur via a material asset sale."




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C H I N A
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[*] Car Factories Idled by Virus Raise Risks to Global Growth
-------------------------------------------------------------
Jack Ewing at The New York Times reports that Chinese car and
car-parts factories may stay closed longer than expected because of
the coronavirus, increasing the chances that assembly lines in
Asia, Europe and the United States could grind to a halt because of
shortages of components.

The report relates that the hit to the auto industry, which employs
eight million people worldwide, comes as output from the world's
factories is already sagging. It is likely to amplify the already
alarming human and economic cost of the outbreak.

According to the New York Times, many automakers had planned to
reopen their Chinese factories on Feb. 10, which was already a week
later than planned following the traditional Lunar New Year
holiday.

But several companies including BMW, PSA and Toyota have delayed
restarting their assembly lines another week and others appear
likely to, Bloomberg says. Even a relatively brief interruption in
the flow of parts and materials could have far-reaching effects,
analysts said.

"Two weeks is probably the buffer most people have got," Bloombeg
quotes Mark Fulthorpe, a director at the market researcher IHS
Markit who follows the auto industry, as saying. "A disruption in
the supply chain can multiply and have a dramatic effect."

According to Bloomberg, the shutdowns at Chinese factories hit
automakers from several angles. The virus is already causing them
to lose sales in China, the world's largest car market by far. If
they are forced to close factories outside of China because of
parts shortages, as Hyundai has already done in South Korea, they
could also lose sales in other regions.

Because the auto industry is so vast, its pain would spread
throughout the global economy, the report states. And it is hardly
the only industry at risk from supply chain problems. Others
include computers and electronics, textiles and heavy machinery.

Every week that Chinese factories remain shuttered subtracts $26
billion from world trade, Bloomberg discloses citing an estimate by
Ana Boata, head of macroeconomic research at Euler Hermes.

Some of those sales will be recouped after the virus subsides, but
"we doubt the global economy is strong enough to catch up
entirely," Ms. Boata said in a note to clients on Feb. 7, Bloomberg
relays.

Bloomberg says the disruption to the car industry is most intense
in Wuhan and the surrounding province of Hubei, which is home to
many auto parts suppliers.

PSA, the French maker of Peugeot and Citroen cars, said its three
car factories in Wuhan, the center of the epidemic in China, would
remain closed until Feb. 14, according to Bloomberg.

Bloomberg relates that the virus has also interrupted production
far from Wuhan. The German carmaker BMW, which has three factories
in Shenyang, in northern China, has suspended production until Feb.
17.

Bloomberg adds that Toyota said it would not resume full production
at its four car and eight component factories in China until Feb.
17, a week later than planned. The Japanese carmaker said it was
keeping an eye on potential problems outside China, but "there is
currently no impact."

None of the carmakers can restart operations until they receive
government permission to do so, Bloomberg notes.



=================
H O N G   K O N G
=================

J.CREW GROUP: To Shut Hong Kong Stores as Sales Plunge
------------------------------------------------------
Sandy Li at South China Morning Post reports that J.Crew Group, the
US retailer of menswear and womenswear, is closing its stores in
Hong Kong, according to staff at both its locations in the city.

"The stores in Causeway Bay and near Lan Kwai Fong will be closed
on February 23," the report quotes a sales staff member at its
Times Square location as saying on the weekend. A sales person at
the brand's second store, which sells only menswear, on 9 On Lan
Street, also confirmed the closure, the report relates.

J.Crew is expected to announce its third-quarter result this week,
on February 12, in the United States, SCMP notes.

A notice at its Times Square shop said: "This J. Crew store is
closing, but there's still time to shop with 50 per cent off your
purchase."

According to the report, Wharf Real Estate Investment, which owns
and operates Times Square, too was unavailable for comment on the
closure and the brand's monthly rental, but industry experts said
the 1,500 sq ft shop would cost less than HK$1 million (US$128,774)
a month.

SCMP says J.Crew joins a list of big names shutting shop in
Causeway Bay, the world's most expensive shopping district. In
January, luxury brand Louis Vuitton said it was shuttering its
10,000 sq ft store in Times Square, the report notes. The company,
which pays an estimated HK$5 million a month in rent, decided to
close the store after Wharf turned down a request for lowering its
rent. In August, the South China Morning Post revealed Prada was
closing its 15,000 sq ft store at Plaza 2000, across the street
from Times Square, for which it paid HK$9 million in monthly rent.

"Retailers selling luxury goods, top fashion brands and restaurants
had already seen their sales plunge significantly after the
eight-month-long anti-government protests in the second half of
last year. Now, the outbreak of the coronavirus has turned their
business from bad to worse, with locals as well as tourists too
scared to go out at all, " Bloomberg Peter Yuen, head of the
investment department at Savills, as saying.

SCMP says the outbreak, which originated in the central Chinese
city of Wuhan, has claimed more than 810 lives and infected at
least 37,500 people, mostly in mainland China. In Hong Kong, there
has been one death, with at least 26 people infected.

International and mainland Chinese travellers account for up to 70
per cent of all luxury purchases in Hong Kong, the report notes.
Starting Feb. 15, all travellers from the mainland entering Hong
Kong, including local residents, are required to go into quarantine
for 14 days. This is expected to lead to further declines in the
number of such travelers, SCMP states.

Only 3.2 million travellers visited Hong Kong in December last
year, a decline of 51.3 per cent from the same period in 2018, SCMP
discloses citing latest data released by the Hong Kong Tourism
Board. The number of mainland tourists arriving in Hong Kong
plunged 52 per cent to 2.4 million in December, from 5.12 million a
year ago. For the whole of 2019, the total number of tourist
arrivals declined 14.2 per cent to 55.9 million. The number of
mainland Chinese tourists fell 14.2 per cent to 43.8 million.

Unsurprisingly, retail sales have plummeted, the report says.
Burberry Group, for instance, said its sales in Hong Kong declined
by half in the third quarter because of the protests. In November,
retail sector sales plunged 23.6 per cent year on year, for their
second-largest drop on record, according to Census and Statistics
Department data released last month, SCMP relays.

"Some retailers saw their sales drop by 80 per cent to 90 per cent,
with hardly any shoppers seen in the streets. In this case, some
retailers would prefer to close their shops when they don't see a
full recovery in business in sight," the report quotes Yuen as
saying.

NOBLE GROUP: Hires Jacques Enri as New Group CFO
------------------------------------------------
Neil Hume at The Financial Times reports that Noble Group, the
commodity trader that almost blew up in an accounting and debt
scandal before pushing through a dramatic financial restructuring,
has hired a new finance chief.

The FT relates that the Hong Kong-based company said on Feb. 7 that
it has recruited Jacques Enri, the former chief financial officer
of Gunvor, one of the world's leading energy traders. He replaces
Paul Jackaman who left in July.

Mr. Erni joins the group, which claims to be Asia's leading
independent energy products and industrial raw materials supply
chain manager, as it seeks to rebuild its reputation following the
debt and accounting crisis, the FT says.

Once worth more than $6 billion, Noble market value was almost
wiped out after an independent analyst operating under the name of
Iceberg Research published in 2015 a series of devastating reports
on its accounting practices.

The FT relates that the company was subsequently forced into a
painful debt for equity in 2018 and sold a number of its best
assets in a desperate shrink-to-survive strategy.

According to the report, plans to relist the company in Singapore
post the debt restructuring were scuppered after the police
launched an investigation into false and misleading statements" as
well as "potential non-compliance with accounting standards".

"In his role as Group chief financial officer, Mr. Erni will
oversee all Noble Holdings' financial activities, ensure the
company's continued compliance with the highest standards of
international accounting and corporate governance and contribute to
its continued drive towards sustainable profitability," the company
said in a statement, the FT relays.

"Mr Erni will also help to develop the company's long-term vision
to support Asia's transition to a low-carbon future and the
evolving needs of its customer base."

Noble Group Limited was a manager of global supply chains for
physical commodities. The company's activities across these chains
included the sourcing, storage, processing, transportation, and
distribution of various commodity products.

Noble's financial restructuring was completed on December 20, 2018.
Following the restructuring, all the assets and business of Old
Noble were transferred to Noble Holdings.




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I N D I A
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BIOMEDICON CARE: CRISIL Lowers Rating on INR11cr Loan to B+
-----------------------------------------------------------
CRISIL has downgraded its rating on the long term bank facilities
of Biomedicon Care Private Limited (BCPL) to 'CRISIL B+/Stable'
from 'CRISIL BB-/Negative' while reaffirming the short term rating
at 'CRISIL A4'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           11         CRISIL B+/Stable (Downgraded
                                    from 'CRISIL BB-/Negative')

   Letter of credit       5         CRISIL A4 (Reaffirmed)
   & Bank Guarantee       

   Term Loan              4.3       CRISIL B+/Stable (Downgraded
                                    from 'CRISIL BB-/Negative')

The downgrade reflects weakening of the business risk profile on
account of lower-than-expected revenue and working capital
intensive operations, which has reduced liquidity. Revenue is
expected to be lower at INR36 crore in fiscal 2020 as against INR56
crore and INR45 crore in fiscals 2018 and 2019, respectively. The
fall is on account of lesser supply from its multi-national-company
suppliers due to the capping of prices on essential medical
equipment (such cardiac stents and orthopaedic implants). The fall
in topline and high inventory maintained resulted in working
capital intensive operations. Weakening of financial risk profile
led to stretched liquidity, repayment obligation of INR0.83 crore,
against expected cash accrual of INR0.28-0.77 crore per fiscal.
Further, with capping expected to continue, expansion in scale of
operations while maintaining operating profits resulting in
improvement of cushion between cash accruals and repayment
obligations to remain rating sensitivity factor.

The rating continues to factor in the established track record of
the management. This strength is partially offset by the large
working capital requirement and modest scale of operations.

Key Rating Drivers & Detailed Description

Strengths:
* Established track record of the management:  The promoter's
experience of over two decades in the medical equipment trading
industry and healthy relationship with suppliers and customers
should continue to support the business. The company sources its
medical equipment from mainly three principals: Terumo Corporation
(Japan) for cardiovascular products, Medicon AG (Germany) for neuro
products and Biorad Medisys Pvt Ltd for orthopaedic products. Its
customer base includes premier hospitals such as Lilavati Hospital
and Research Centre, P.D. Hinduja Hospital, Dr D.Y Patil Hospital
all in Mumbai; besides several mid and small scale hospitals,
diagnostic units, health care centres and clinics.

Weaknesses:
* Large working capital requirement: Operations are working
capital intensive, as reflected in gross current assets (GCAs) of
219 days as on March 31, 2019 driven by receivables and inventory
of 150 and 62 days, respectively. GCAs are expected to be at
similar levels over the medium term.

* Modest scale of operations: Revenue, INR44.75 crore in fiscal
2019, is expected to decrease to INR36 crore for fiscal 2020. The
expected decline is on account of lower sales from one of the
regions along with capping of prices on essential medical
equipment. With capping expected to continue, improvement in scale
of operations remain rating sensitivity factor.

Liquidity Stretched
Liquidity is stretched. Cash accruals, expected at INR0.28-0.77
crore annually over the medium term are insufficient to cover
yearly debt obligation of INR0.83 crore. Cash credit limit of INR11
crore was utilised 98% in the 8 months through November 2019. The
current ratio was moderate at 1.90 times as on March 31, 2019 and
unencumbered cash and bank balance stood at INR0.22 crore.

Outlook: Stable

CRISIL believes BCPL will continue to benefit from the extensive
experience of its promoter.

Rating Sensitivity factors

Upward Factors:
* Growth in revenue to above INR45 crore with sustained
profitability leading to increased cash accrual
* Improved working capital cycle.

Downward Factors:
* Decrease in revenue and profitability to below 5% lowering cash
accrual
* Stretch in working capital cycle, significantly weakening
financial risk profile

BCPL, set up in 1995 as Biomedicon Systems (India) Pvt Ltd by Mr
Jitendra M Hegde, trades in medical equipment and devices,
primarily related to cardiovascular, orthopaedic and neuro
surgeries.

EASTERN TRAVELS: Ind-Ra Maintains BB LT Rating in Non-Cooperating
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has maintained Eastern Travels
Private Limited's Long-Term Issuer Rating of 'IND BB (ISSUER NOT
COOPERATING)' in the non-cooperating category and has
simultaneously withdrawn it.

The instrument-wise rating actions are:

-- INR90 mil. Fund-based limit* maintained in non-cooperating and

     withdrawn; and

-- INR30 mil. Proposed fund-based limit** maintained in non-
     cooperating and withdrawn.

*Maintained in 'IND BB (ISSUER NOT COOPERATING)' before
withdrawn.

**Maintained in 'Provisional IND BB (ISSUER NOT COOPERATING)'
before withdrawn.

KEY RATING DRIVERS

The ratings have been maintained in the non-cooperating category
because the issuer did not participate in the rating exercise
despite continuous requests and follow-ups by Ind-Ra.

Ind-Ra is no longer required to maintain the ratings, as it has
received a no-objection certificate from the lender. This is
consistent with the Securities and Exchange Board of India's
circular dated March 31, 2017, for credit rating agencies.

COMPANY PROFILE

Formed in 1980, Eastern Travels provides hospitality and tourism
services to corporate clients.

FAIR DEAL: CRISIL Lowers Rating on INR43.5cr Cash Loan to B+
------------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Fair Deal Cars
Private Limited (FDCPL) to 'CRISIL B+/Stable Issuer not
cooperating'.

                      Amount
   Facilities       (INR Crore)      Ratings
   ----------       -----------      -------
   Cash Credit           43.5        CRISIL B+/Stable (ISSUER NOT
                                     COOPERATING; Revised from
                                     'CRISIL BB+/Stable ISSUER
                                     NOT COOPERATING')

CRISIL has been consistently following up with FDCPL for obtaining
information through letters and emails dated June 29, 2019 and
December 9, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'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 FDCPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on FDCPL 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 ratings on bank
facilities of FDCPL Revised to 'CRISIL B+/Stable Issuer not
cooperating'.

Incorporated in 2006, FDCPL is an authorised automobile dealer of
MSIL at Delhi and Noida. The company is owned and managed by Mr.
Raju Aggarwal and his family members. The company has three service
stations and five showrooms (included two Maruti premium car
showrooms).

GAUTAM MALHOTRA: CRISIL Cuts Rating on INR6cr Cash Loan to 'B'
--------------------------------------------------------------
CRISIL has downgraded its rating on the long-term bank facility of
Gautam Malhotra and Co. (GMC) to 'CRISIL B/Stable' from 'CRISIL
B+/Stable'.

                      Amount
   Facilities       (INR Crore)    Ratings
   ----------       -----------    -------
   Cash Credit            6        CRISIL B/Stable (Downgraded
                                   from 'CRISIL B+/Stable')

The downgrade reflects worsening of financial risk profile of GMC
as reflected in increase in total outside liabilities to adjusted
networth (TOLANW) ratio to 4.3 times as on March 31, 2019 from 3.3
times a year earlier, due to increase in creditors. The ratio is
expected to be 3.8 times to 4.2 times over medium term. Interest
coverage ratio was modest at 1.24 times as of fiscal 2019 and is
expected to be 1.1-1.3 times over medium term on account of modest
profitability. Bank limits continued to be utilized almost fully
indicating poor liquidity.

The rating continues to reflect the firm's weak financial risk
profile and exposure to risk related to government regulations for
players in the liquor industry. These weaknesses are partially
offset by the extensive experience of the proprietor.

Key Rating Drivers & Detailed Description

Weaknesses:
* Exposure to risks related to stringent government regulations:
The liquor industry of Punjab is auction-based, where the state
government controls the licenses for sale and distribution of
liquor products, both in the wholesale and retail segments. Any
adverse changes in the license authorisation policy, which may
involve discontinuation or limiting renewal of licenses, or a
substantial hike in license fees, could negatively impact
operations of players like GMC.

* Weak financial risk profile: Financial risk profile is marked by
muted debt protection metrics, with interest coverage and net cash
accrual to total debt ratios of 1.2 times and 0.01 time,
respectively, in fiscal 2019, due to a low operating margin.

Strength:
* Extensive experience of promoters in the liquor business: The
-promoters have more than a decade's experience in the wholesale
and retail trade of liquor in Punjab. Longstanding presence has
helped them withstand business cycles and stringent regulatory
changes in the liquor trade in Punjab, and will continue to support
the business risk profile.

Liquidity Poor
Working capital limit of INR6 crore was almost fully utilized
during 12 months through Aug, 2019 and net cash accrual is expected
to remain modest at INR8-12 lakh over medium term though repayment
obligations are nil.

Outlook: Stable

CRISIL expects GMC will continue to benefit from the extensive
experience of its promoters and its established market position in
the Punjab.

Rating Sensitivity factors
Upward factors:
* Improvement in interest cover to 1.6 times
* Increase in revenue
* Decrease in bank limit utilization

Downward factors:
* Decrease in interest cover to 1 time or below
* Further increase in bank limit utilization.

GMC was set up as a partnership firm in 2008. The firm trades in
Indian made foreign liquor (IMFL) through retail outlets. It has
retail L2 (retail of IMFL) & L14 (retail for country liquor) liquor
licenses for the Bhatinda district in Punjab. The Ludhiana-based
firm is managed by Mr Deep Malhotra, Mr Gaurav Malhotra, Mr Gautam
Malhotra, Ms Reeya Malhotra and Ms Niharika Malhotra.

JAYPEE INFRATECH: SC Gives 4-Week Insolvency Process Extension
--------------------------------------------------------------
Financial Express reports that the Supreme Court on Feb. 3 gave a
four week extension to Anuj Jain, the insolvency and resolution
professional (IRP), to complete the insolvency process of
debt-laden Jaypee Infratech.

FE relates that a Bench led by Justice AM Khanwilkar gave the
extension of four weeks after the IRP argued that a large number of
applications, including objections to the approved resolution plan
of government firm National Buildings Construction Corporation
(NBCC), and various complex questions of law pending before the
NCLT. The 90-day extension granted earlier by the apex court to
complete the insolvency proceedings expired on
February 3, the report notes.

According to FE, Jain also apprised the court that the NBCC's
resolution plan was approved by the committee of creditors (CoC)
with a majority of 97.36% on December 16. The apex court had last
year in November barred parent firm Jaiprakash Associates from
bidding for the embattled firm's assets, but allowed only NBCC and
Suraksha Realty to submit their revised bids for takeover of
stalled residential projects, the report notes.

During the arguments, there was complete unanimity between all the
stakeholders that the liquidation of JIL must be eschewed as it
would do more harm to the interests of the stakeholders, in
particular the large number of homebuyers, who aspire to have their
home at the earliest, the report says.

FE notes that the NCLAT had also earlier extended the insolvency
resolution period of JIL for 90 days during which fresh bids by
NBCC, Adani Infrastructure and Development, among others, for the
company was allowed. According to the report, the Centre is also
supporting NBCC takeover of JIL's unfinished projects as it had
told the SC that it would waive taxes, running into crores, if NBCC
was to take over the embattled real-estate firm.

                        About Jaypee Infratech

Jaypee Infratech Limited (JIL) is engaged in the real estate
development.  The Company's business segments include Yamuna
Expressway Project and Healthcare.  The Company's Yamuna Expressway
Project is an integrated project, which inter alia includes
construction of 165 kilometers long six lane access controlled
expressway from Noida to Agra with provision for expansion to eight
lane with service roads and associated structures on build, own,
operate and transfer basis.  The Company provides operation and
maintenance of Yamuna Expressway for over 36 years, collection of
toll and the rights for development of approximately 25 million
square meters of land for residential, commercial, institutional,
amusement and industrial purposes at over five land parcels along
the expressway.  The Healthcare business segment includes
hospitals.  The Company has commenced development of its Land
Parcel-1 at Noida, Land Parcel-3 at Mirzapur and Land Parcel-5 at
Agra.

JIL features in the Reserve Bank of India's first list of
non-performing assets accounts and had debt exposure of over
INR9,783 crore as of September 2017.  The parent company,
Jaiprakash Associates Ltd. (JAL), owes more than INR29,000 crore to
various banks.

On Aug. 8, 2017, the National Company Law Tribunal (NCLT),
Allahabad bench accepted lender IDBI Bank's plea and classified JIL
as an insolvent company.  With this, the board of directors of the
company remains suspended.

Anuj Jain was appointed as Interim Resolution Professional (IRP) to
manage the company's business.  The IRP had invited bids from
investors interested in acquiring JIL and completing the stuck real
estate projects in Noida and Greater Noida.

In the first round of insolvency proceedings conducted in 2018, the
INR7,350-crore bid of Lakshdeep, part of Suraksha Group, was
rejected by lenders. The Committee of Creditors (CoC) rejected the
bids of Suraksha Realty and NBCC Ltd in the second round held in
May-June 2018, according to The Economic Times.

On Nov. 6, 2019, the Supreme Court directed completion of Jaypee
Infratech's insolvency process within 90 days and said the revised
resolution plan will be invited only from NBCC and Suraksha Realty,
ET related.

NEERAJ PAPER: Ind-Ra Affirms BB+ Rating & Moves to Non-Cooperating
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed Neeraj Paper
Marketing Limited's (NPML) Long-Term Issuer Rating at 'IND BB+'
with a Negative Outlook and has simultaneously migrated it to the
non-cooperating category. The issuer did not participate in the
rating exercise despite continuous requests and follow-ups by the
agency. Thus, the rating is based on the best available
information. 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 actions are:

-- INR400 mil. Fund-based working capital limits affirmed and
     migrated to non-cooperating category with IND BB+ (ISSUER NOT

     COOPERATING) /IND A4+ (ISSUER NOT COOPERATING) rating; and

-- INR150 mil. Non-fund-based working capital limits affirmed and

     migrated to non-cooperating category with IND A4+ (ISSUER NOT

     COOPERATING) rating.

Note: ISSUER NOT COOPERATING: Issuer did not cooperate; based on
the best available information

KEY RATING DRIVERS

The affirmation reflects NPML's continued medium scale of
operations, as indicated by revenue of INR2,522.04 million in FY19
(FY18: INR3,285.83 million). The revenue fell due to a decline in
sales volumes. The company booked a turnover of INR779.77 million
in 1HFY20 (1HFY19: INR1,342.73 million).

The ratings reflect the modest EBITDA margins due to the trading
nature of the business. The margins declined to 2.62% in FY19
(FY18: 3.34%) due to an increase in operational expenses. The RoCE
stood at 9.1% in FY19 (FY18: 11.7%).

The rating factor in the moderate credit metrics on account of the
modest EBITDA margins. The metrics improved in FY19 due to a
decline in the total adjusted debt to INR236.94 million in FY19
(FY18: INR648.50 million) and the resultant fall in gross interest
expenses to INR50.5 million (INR93.11 million). The company's net
leverage (adjusted net debt/operating EBITDA) was 3.58x in FY19
(FY18: 5.88x), while the interest coverage (operating EBITDA/gross
interest expense) was 1.31x (1.18x).

However, the ratings are supported by the promoters' experience of
more than three decades in the paper trading business, which has
helped the company establish strong relationships with customers
and suppliers.

RATING SENSITIVITIES

Negative: A decline in the EBITDA margins, leading to the interest
coverage ratio remaining below 1.4x, or any further deterioration
in the company's liquidity position, would be negative for the
ratings.

Positive: The revenue being sustained along with stable EBITDA
margins, with the interest coverage at or above 1.4x, would lead to
the Outlook being revised to Stable.

COMPANY PROFILE

Delhi-based NPML is a public limited company listed on the Bombay
Stock Exchange. It was incorporated by established and experienced
promoters and their associates in 1995. It is engaged in the
trading and commissioning of all kinds and classes of paper,
paperboards, paper pulp, allied products, and others.

According to the interim financials for 1HFY20, the revenue was
INR779.77 million (1HFY19: INR1,342.73 million), the EBITDA margin
was 2.13% (3.29%), interest coverage was 1.58x (1.22x).

NIRMAAN RMBS: CRISIL Cuts Rating on Two PTCs to D(SO)
-----------------------------------------------------
CRISIL has downgraded its ratings on Series A1 pass through
certificates (PTCs) and Series A2 PTCs issued by 'Nirmaan RMBS
Trust - Series V - 2014' to 'CRISIL D (SO)' from 'CRISIL C (SO)'.
The PTCs are backed by housing loan receivables originated and
serviced by Dewan Housing Finance Corporation Ltd. (DHFL; rated
'CRISIL D').

                      Amount
   Facilities       (INR Crore)      Ratings
   ----------       -----------      -------
   Series A1 PTCs        84.15       CRISIL D (SO) Downgraded
   LT                                from CRISIL C (SO)

   Series A2 PTCs         3.51       CRISIL D (SO) Downgraded
   LT                                from CRISIL C (SO)

The rating actions follow non-payment of payouts due in January
2020 to the PTC holders. The Trustee could not make the promised
payments as it was unable to access the collections from the
underlying pool (serviced by DHFL) and did not utilise the cash
collateral in the structure. The cash collateral was not used to be
in compliance with the communication received from the
Administrator stating that until Central Government's notification
related to 'dealing with third party assets' is issued,
transfer/appropriation/enforcement of security or collateral will
be in contravention of the Insolvency and Bankruptcy Code and the
NCLT order.

CRISIL believes that the trustee's ability to make timely promised
payments on the PTCs would remain compromised until the requisite
Central Government notification is issued.

Key Rating Drivers & Detailed Description

Constraining Factors

   * Non-payment of promised payouts due in January 2020

   * Due to the ongoing insolvency proceedings, trustee was
     unable to make promised payments to the PTC holders on the
     due date (January 24, 2020)

Supporting Factors

   * Healthy collection efficiency

   * 69 months post securitisation (as after December 2019
     payouts), based on Trustee reports, cumulative collection
     ratio (CCR) for the transaction has remained robust at
     99.9%.

Liquidity: Poor

Liquidity is poor given that the Trustee's inability to dip into
credit enhancement in a timely manner given the ongoing legal
challenges.

CRISIL has adequately factored these aspects in its rating
analysis

Rating Sensitivity factors

Upward

   * The Central Government issuing a notification relating to
     'dealing with third party assets' removing any restrictions
     on the Trustee to access the cash collateral and DHFL to
     transfer collected funds to the CPA

                           About the pool

The pool securitised comprises home loan receivables. As after
December 2019 payouts, the pool has high seasoning as evidenced by
its amortisation of 70.5%.

Key rating assumptions

CRISIL has analysed the payment track record on the PTCs and the
performance of the securitised housing loan pools of DHFL as of
December 2019 payouts. The collection efficiencies are robust at
over 99%.  

                       About the Originator

Incorporated in 1984, DHFL primarily provides housing finance to
low- and lower-middle-income groups in tier-II and tier-III cities.
The company also offers non-housing loans such as LAP, developer
loans, and SME loans. In December 2010, it acquired Deutsche Post
Bank Home Finance Ltd (DPBHFL) to enter the middle- and
upper-middle-income segments in tier-I cities. DPBHFL was renamed
First Blue Housing Finance Ltd and was merged with DHFL in March
2013. DHFL has a pan-India presence through 352 customer touch
points as on December 31, 2018.

Profit after tax (PAT) and total income (net of interest expense)
stood at INR1,172 crore and INR2,500 crore, respectively, during
fiscal 2018, against PAT (including one-time gain from sale of
investment) and total income (net of interest expense) of INR2,896
crore and INR4,173 crore, respectively, in fiscal 2017.

For the nine months ended December 31, 2018, PAT was INR1,187 crore
and total income (net of interest expense) was INR2,407 crore.

Past rated pools
CRISIL has ratings outstanding on two transactions originated by
DHFL. CRISIL is receiving monthly performance reports pertaining to
the securitisation transactions.

R.S.V. COTTON: CRISIL Maintains 'D' Rating in Not Cooperating
-------------------------------------------------------------
CRISIL said the ratings on bank facilities of R.S.V. Cotton
Industries (RSV) continues to be 'CRISIL D Issuer not
cooperating'.

                      Amount
   Facilities       (INR Crore)      Ratings
   ----------       -----------      -------
   Cash Credit            2.5        CRISIL D (ISSUER NOT
                                     COOPERATING)

   Proposed Rupee         0.17       CRISIL D (ISSUER NOT
   Term Loan                         COOPERATING)

   Term Loan              2.83       CRISIL D (ISSUER NOT
                                     COOPERATING)

CRISIL has been consistently following up with RSV for obtaining
information through letters and emails dated June 29, 2019 and
December 9, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'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 RSV, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on RSV 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 ratings on bank
facilities of RSV continues to be 'CRISIL D Issuer not
cooperating'.

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

For arriving at the rating, CRISIL has combined the business and
financial risk profiles of RSV and VS Cotton Industries (VSC). This
is because the two entities, together referred to as the Kakad
group, are under a common management and in similar lines of
business, and have significant financial linkages.

                          About the Group

RSV, a partnership firm set up by Mr. Vivek Kakad, Mr. Abdul
Qureshi, and Mr. Mohammed Shafikur Rehman in 2013, gins and presses
cotton. The firm commenced operations in November 2013. Its
manufacturing facilities are at Anjangaon in Amravati,
Maharashtra.

VSC, a partnership firm set up by Mr. Sudhakar Kakad and Mr.
Mohammed Ziya Mansuri in 2012, also gins and presses cotton. It
commenced operations in February 2013. Its manufacturing facilities
are at Murtizapur in Akola, Maharashtra.

The daily operations of both entities are managed by Mr. Sudhakar
Kakad and Mr. Vivek Kakad. The Kakad family has been in the
business of cotton trading for more than a decade.

RADHA STEEL: Ind-Ra Affirms 'BB-' LT Issuer Rating, Outlook Stable
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed Radha Steel's (RS)
Long-Term Issuer Rating at 'IND BB-'. The Outlook is Stable.

The instrument-wise rating actions are:

-- INR240 mil. Fund-based working capital limits affirmed with   

     IND BB-/Stable/IND A4+ rating.

KEY RATING DRIVERS

The affirmation reflects RS's continued medium scale of operations,
as indicated by revenue of INR1,112.53 million in FY19 (FY18:
INR1,462.20 million). The revenue declined to owe to decreased
execution of orders. The absolute EBITDA fell marginally to
INR38.74 million in FY19 (FY18: INR40.60 million) on account of the
decline in revenue. The company achieved revenue of INR1164.5
million in 9MFY20.

The ratings reflect the modest EBITDA margins due to the trading
nature of the business. The margin increased to 3.5% in FY19 (FY18:
2.8%) due to the receipt of royalty income of INR18.50 million. The
company's return on capital employed was 11% in FY19 (FY18: 12%)

The ratings reflect the moderate credit metrics due to the modest
EBITDA margins. The metrics were fairly stable in FY19 due to
stable levels of interest expenses and debt. The net leverage
(Ind-Ra adjusted net debt/operating EBITDAR) was 6.5x in FY19
(FY18: 6.3x) and interest coverage (operating EBITDA/gross interest
expense) was 1.6x (1.5x).

Liquidity Indicator – Stretched: RS's average use of working
capital limits was 97% during the 12 months ended December 2019. At
FYE19, its cash and cash equivalents stood at INR1 million against
total outstanding debt of INR253 million. Its cash flow from
operations turned negative at INR12 million in FY19 (FY18: INR1
million), mainly due to unfavorable changes in the working capital
requirements. RS's free cash flow turned negative at INR19 million
in FY19 (FY18: INR 1million) due to capital expenditure incurred
for the purchase of vehicles. The firm has repayment obligations of
INR1.9 million and INR1.9 million for FY20 and FY21, respectively,
which is likely to be paid out of its internal accruals.

The ratings are also constrained by the partnership structure of
the organization.

The ratings, however, benefit from the founders' experience of over
three decades in the steel industry. Moreover, the founders have
demonstrated the ability to support the firm's working capital
requirements through unsecured loans and capital infusion.

RATING SENSITIVITIES

Positive: An improvement in the revenue while improving the
operating profitability, net leverage, and liquidity position, all
on a sustained basis, and an increase in the interest coverage to
1.9x, will be positive for the ratings.

Negative: Any further decline in the operating profitability,
leading to a substantial deterioration in the credit metrics and/or
the liquidity position, will be negative for the ratings.

COMPANY PROFILE

RS trades in steel products including mild steel rods, sheets,
scrap, structural and sponge iron. In FY20, the firm diversified
its operations into the manufacturing of sponge-iron through job
work. The registered office of the firm is located in Hyderabad.

RAJDHANI COLD: CRISIL Keeps B+ Rating in Not Cooperating Category
-----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Rajdhani Cold storage
(RCS) continues to be 'CRISIL B+/Stable Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           1.5        CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

   Long Term Loan        5.0        CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with RCS for obtaining
information through letters and emails dated June 29, 2019 and
December 9, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'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 RCS, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on RCS 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 ratings on bank
facilities of RCS continues to be 'CRISIL B+/Stable Issuer not
cooperating'.

RCS was formed in 2014 by Mr Mutreja in Raipur, Chhattisgarh. The
firm provides cold storage and warehouse services to farmers,
merchants, and traders. It has a total capacity of 6000 tonne, with
two chambers, for storing perishables. The firm also undertakes
opportunity-based trading in agro commodities such as tamarind,
jaggery, gram, and pulses.

RAMNANDI ESTATE: CRISIL Keeps 'D' Rating in Not Cooperating
-----------------------------------------------------------
CRISIL said the ratings on bank facilities of Ramnandi Estate
Private Limited (REPL) continues to be 'CRISIL D Issuer not
cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           5.04       CRISIL D (ISSUER NOT
                                    COOPERATING)

   Term Loan             4.93       CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with REPL for obtaining
information through letters and emails dated June 29, 2019 and
December 9, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'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 REPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on REPL 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 ratings on bank
facilities of REPL continues to be 'CRISIL D Issuer not
cooperating'.

Incorporated in August 2011, REPL is promoted by Mr. Akhouri Gopal.
The company is the sole authorised dealer of HMIL passenger
vehicles in the Gaya district of Bihar. It has one
showroom-cum-workshop in Gaya.

RELIABLE INFRASTRUCTURE: CRISIL Keeps D Rating in Not Cooperating
-----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Reliable
Infrastructure Private Limited (RIPL) continues to be 'CRISIL D
Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)      Ratings
   ----------       -----------      -------
   Cash Credit            1.15       CRISIL D (ISSUER NOT
                                     COOPERATING)

   Proposed Long Term     2.50       CRISIL D (ISSUER NOT
   Bank Loan Facility                COOPERATING)

   Working Capital        3.35       CRISIL D (ISSUER NOT
   Term Loan                         COOPERATING)

CRISIL has been consistently following up with RIPL for obtaining
information through letters and emails dated June 29, 2019 and
December 09, 2019 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'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 RIPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on RIPL 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 ratings on bank
facilities of RIPL continues to be 'CRISIL D Issuer not
cooperating'.

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

Incorporated in 2008, RIPL is promoted by Mr Preetpal Singh Kohli
and Mr Aslam Khan. The company is engaged in mining and crushing of
stones.

RITISHA OILS: CRISIL Maintains 'D' Rating in Not Cooperating
------------------------------------------------------------
CRISIL said the ratings on bank facilities of Ritisha Oils Private
Limited (ROPL) continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

                      Amount
   Facilities       (INR Crore)      Ratings
   ----------       -----------      -------
   Cash Credit            10         CRISIL D (ISSUER NOT
                                     COOPERATING)

   Letter of Credit       10         CRISIL D (ISSUER NOT
                                     COOPERATING)

   Proposed Long Term      5         CRISIL D (ISSUER NOT
   Bank Loan Facility                COOPERATING)

CRISIL has been consistently following up with ROPL for obtaining
information through letters and emails dated June 29, 2019 and
December 9, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'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 ROPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on ROPL 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 ratings on bank
facilities of ROPL continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.
  
In 2012, Mr. Ramit Jain set up Manidhari Oils Private Limited,
which trades in edible oils and has the same set of customers and
suppliers as Ritisha Oils Private Limited.

Ritisha Oils Private Limited was set up in 2009 by Mr. Ramit Jain.
The company is based in Delhi and trades in edible oils.

SABITRI RICE: CRISIL Maintains 'C' Rating in Not Cooperating
------------------------------------------------------------
CRISIL said the ratings on bank facilities of Sabitri Rice Mills
Private Limited (SRMPL) continues to be 'CRISIL C/CRISIL A4 Issuer
not cooperating'.

                      Amount
   Facilities       (INR Crore)      Ratings
   ----------       -----------      -------
   Bank Guarantee        0.1         CRISIL A4 (ISSUER NOT
                                     COOPERATING)

   Cash Credit           9.0         CRISIL C (ISSUER NOT
                                     COOPERATING)

   Proposed Long Term    0.7         CRISIL C (ISSUER NOT
   Bank Loan Facility                COOPERATING)

CRISIL has been consistently following up with SRMPL for obtaining
information through letters and emails dated June 29, 2019 and
December 9, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'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 SRMPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SRMPL 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 ratings on bank
facilities of SRMPL continues to be 'CRISIL C/CRISIL A4 Issuer not
cooperating'.

SRMPL, promoted by Mr. Dilip Kumar Agarwalla in 2007 and based in
Karanjia, Odisha, processes paddy into raw and parboiled rice. It
also sells broken rice and rice bran, which are by-products of the
milling process.

SAIDEEP CARS: CRISIL Maintains 'C' Rating in Not Cooperating
------------------------------------------------------------
CRISIL said the ratings on bank facilities of Saideep Cars Private
Limited (SCPL) continues to be 'CRISIL C Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)      Ratings
   ----------       -----------      -------
   Cash Credit            2.5        CRISIL C (ISSUER NOT
                                     COOPERATING)

   Inventory Funding      3.0        CRISIL C (ISSUER NOT
   Facility                          COOPERATING)

   Rupee Term Loan        1.5        CRISIL C (ISSUER NOT
                                     COOPERATING)

CRISIL has been consistently following up with SCPL for obtaining
information through letters and emails dated June 29, 2019 and
December 9, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'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 SCPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SCPL 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 ratings on bank
facilities of SCPL continues to be 'CRISIL C Issuer not
cooperating'.

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

Incorporated in 2008, SCPL is promoted by Chopra family. The
company is dealer of passenger vehicle Renault India Pvt Ltd. in
Ahmednagar (Maharashtra). The company has 1 showroom in Ahmednagar.
The operations of the company are managed by Chopra family.

SANGDEEP ACID-CHEM: CRISIL Maintains B+ Rating in Not Cooperating
-----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Sangdeep Acid-Chem
Private Limited (SAPL) continues to be 'CRISIL B+/Stable Issuer not
cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            3         CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

   Long Term Loan         2.5       CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with SAPL for obtaining
information through letters and emails dated June 29, 2019 and
December 9, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'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 SAPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SAPL 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 ratings on bank
facilities of SAPL continues to be 'CRISIL B+/Stable Issuer not
cooperating'.

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

SAPL was incorporated in Mumbai,in 1996 by Mr. Krutarth Shah and
Mr. Neel Shah. The company purifies and distills solvents which are
by-products in the pharmaceutical industry.

SANKAR JP: CRISIL Lowers Rating on INR9.5cr Cash Loan to B+
-----------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Sankar JP
Sealing Technologies Private Limited (SJPS) to 'CRISIL B+/Stable
Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)      Ratings
   ----------       -----------      -------
   Cash Credit            9.5        CRISIL B+/Stable (ISSUER NOT
                                     COOPERATING; Revised from
                                     'CRISIL BB-/Stable ISSUER
                                     NOT COOPERATING')

   Long Term Loan          .5        CRISIL B+/Stable (ISSUER NOT
                                     COOPERATING; Revised from
                                     'CRISIL BB-/Stable ISSUER
                                     NOT COOPERATING')

CRISIL has been consistently following up with SJPS for obtaining
information through letters and emails dated June 29, 2019 and
December 9, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'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 SJPS, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SJPS 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 ratings on bank
facilities of SJPS Revised to 'CRISIL B+/Stable Issuer not
cooperating'.

SJPS is a joint venture between Sankar Sealing Systems Pvt Ltd and
JP Sealings, Japan for manufacturing advanced metal-based cylinder
head and secondary gaskets for the automobile industry. The
manufacturing plant is situated at Sriperumbudur (Tamil Nadu).

SAWARIYA INTERNATIONAL: CRISIL Keeps B+ Rating in Not Cooperating
-----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Sawariya
International Private Limited (SIPL) continues to be 'CRISIL
B+/Stable Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)      Ratings
   ----------       -----------      -------
   Cash Credit            10         CRISIL B+/Stable (ISSUER NOT
                                     COOPERATING)

CRISIL has been consistently following up with SIPL for obtaining
information through letters and emails dated November 30, 2019 and
December 9, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'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 SIPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SIPL 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 ratings on bank
facilities of SIPL continues to be 'CRISIL B+/Stable Issuer not
cooperating'.

Incorporated in 2012, SIPL, promoted by Mr Sumit Bodra and Mr
Mukund Kurne, trades in saris and dress materials, and carries out
its operations in Surat (Gujarat).

SHAKTI ENTERPRISES: CRISIL Keeps B- Rating in Not Cooperating
-------------------------------------------------------------
CRISIL said the ratings on bank facilities of Shakti Enterprises -
Bangalore (SE) continues to be 'CRISIL B-/Stable Issuer not
cooperating'.

                      Amount
   Facilities       (INR Crore)      Ratings
   ----------       -----------      -------
   Corporate             6           CRISIL B-/Stable (ISSUER NOT
   Mortgage Loan                     COOPERATING)


CRISIL has been consistently following up with Shakti Enterprises -
Bangalore (SE) for obtaining information through letters and emails
dated June 29, 2019 and December 9, 2019 among others, apart from
telephonic communication. However, the issuer has remained non
cooperative.

'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 SE, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SE 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 ratings on bank
facilities of SE continues to be 'CRISIL B-/Stable Issuer not
cooperating'.

Incorporated in 1983 by Mr .S Bagilthaya in Bengaluru (Karnataka),
SE is engaged in tea packaging.

SHANKHESHWAR PROPERTIES: CRISIL Keeps B Rating in Not Cooperating
-----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Shankheshwar
Properties Private Limited (SPPL) continues to be 'CRISIL B/Stable
Issuer not cooperating'.

                         Amount
   Facilities         (INR Crore)     Ratings
   ----------         -----------     -------
   Proposed Long Term      10         CRISIL B/Stable (ISSUER      

   Bank Loan Facility                 NOT COOPERATING)

CRISIL has been consistently following up with SPPL for obtaining
information through letters and emails dated June 29, 2019 and
December 9, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'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 SPPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SPPL 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 ratings on bank
facilities of SPPL continues to be 'CRISIL B/Stable Issuer not
cooperating'.

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

SPPL was incorporated in 1995. It is part of the Sabari Group which
is promoted by the Bharani family. The company is engaged in real
estate development in Mumbai.

SHARVI AGRO: CRISIL Maintains B+ Rating in Not Cooperating
----------------------------------------------------------
CRISIL said the ratings on bank facilities of Sharvi Agro Mills
Private Limited (SRMPL) continues to be 'CRISIL B+/Stable Issuer
not cooperating'.

                      Amount
   Facilities       (INR Crore)      Ratings
   ----------       -----------      -------
   Cash Credit            4          CRISIL B+/Stable (ISSUER NOT
                                     COOPERATING)
   Term Loan              8          CRISIL B+/Stable (ISSUER NOT
                                     COOPERATING)

CRISIL has been consistently following up with SRMPL for obtaining
information through letters and emails dated June 29, 2019 and
December 9, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'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 SRMPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SRMPL 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 ratings on bank
facilities of SRMPL continues to be 'CRISIL B+/Stable Issuer not
cooperating'.

Incorporated in 2011, SRMPL mills and processes paddy into rice,
rice bran, broken rice, and husk. It has an installed paddy milling
capacity of 70000 metric tonnes per annum. Its rice mill is located
in Nagri, Ranchi. The promoter-director Mr. Praveen Gupta, Mr.
Praveen Kedia, and Mr. Shubham Gopalka manage the operations.

SHIV SHAKTI: CRISIL Maintains B+ Rating in Not Cooperating
----------------------------------------------------------
CRISIL said the ratings on bank facilities of Shiv Shakti Dall Mill
(SSD) continues to be 'CRISIL B+/Stable Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Long Term Loan         1.5       CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

   Proposed Fund-         1.5       CRISIL B+/Stable (ISSUER NOT
   Based Bank Limits                COOPERATING)

   Working Capital        5.0       CRISIL B+/Stable (ISSUER NOT
   Facility                         COOPERATING)

CRISIL has been consistently following up with SSD for obtaining
information through letters and emails dated June 29, 2019 and
December 9, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'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 SSD, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SSD 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 ratings on bank
facilities of SSD continues to be 'CRISIL B+/Stable Issuer not
cooperating'.

Shiv Shakti Dall Mill (SSD), a proprietorship firm of Mr. Ashok
Lalwani was set up in 1992-93 in Tilda (Raipur- Chhattisgarh). It
is agro based firm and undertakes processing and trading of Dal.
The firm has two dal milling facility at Tilda.

SHREE KRISHNA: CRISIL Maintains 'B' Rating in Not Cooperating
-------------------------------------------------------------
CRISIL said the ratings on bank facilities of Shree Krishna Rice
and General Mills (SRGM) continues to be 'CRISIL B/Stable Issuer
not cooperating'.

                      Amount
   Facilities       (INR Crore)      Ratings
   ----------       -----------      -------
   Cash Credit           7.75        CRISIL B/Stable (ISSUER NOT
                                     COOPERATING)

   Proposed Long Term    1.25        CRISIL B/Stable (ISSUER NOT
   Bank Loan Facility                COOPERATING)

   Term Loan             1.50        CRISIL B/Stable (ISSUER NOT
                                     COOPERATING)

   Warehouse Receipts    4.50        CRISIL B/Stable (ISSUER NOT
                                     COOPERATING)

CRISIL has been consistently following up with SRGM for obtaining
information through letters and emails dated June 29, 2019 and
December 9, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'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 SRGM, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SRGM 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 ratings on bank
facilities of SRGM continues to be 'CRISIL B/Stable Issuer not
cooperating'.

SRGM was set up in 2000 as a partnership between Mr. Abhinav Goel
and his brother. The firm, based in Kotkapura, mills and sort
basmati rice. It deals in PUSA1121 and PL11 varieties of basmati
rice.

SHREE SAINARAYAN: CRISIL Maintains 'D' Rating in Not Cooperating
----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Shree Sainarayan
Plastics Private Limited (SSPPL) continues to be 'CRISIL D Issuer
not cooperating'.

                      Amount
   Facilities       (INR Crore)      Ratings
   ----------       -----------      -------
   Cash Credit           11.5        CRISIL D (ISSUER NOT
                                     COOPERATING)

   Proposed Long Term     1.5        CRISIL D (ISSUER NOT
   Bank Loan Facility                COOPERATING)

CRISIL has been consistently following up with SSPPL for obtaining
information through letters and emails dated June 29, 2019 and
December 9, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'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 SSPPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SSPPL 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 ratings on bank
facilities of SSPPL continues to be 'CRISIL D Issuer not
cooperating'.

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

Set up in 1986, SSPPL manufactures household items, quality tanks,
cans, containers, pots, buckets, and water tanks. It has a
manufacturing facility in Aurangabad and Pune, Operations are
managed by its directors, Mr. Somnath Sakre and Mr. Santosh
Gangwal.

SNEHMANGAL DEVELOPERS: CRISIL Keeps B Rating in Not Cooperating
---------------------------------------------------------------
CRISIL said the ratings on bank facilities of Snehmangal Developers
& Builders (SDB) continues to be 'CRISIL B/Stable Issuer not
cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Term Loan              10        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with SDB for obtaining
information through letters and emails dated June 29, 2019 and
December 9, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'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 SDB, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SDB 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 ratings on bank
facilities of SDB continues to be 'CRISIL B/Stable Issuer not
cooperating'.

Established in 2003, SDB, the proprietorship concern of Mr Yogesh
Behl, is in the process of setting up a hotel, Hotel Victory Inn,
in Pune.

SOLAMALAI AUTOMOBILES: CRISIL Keeps B Rating in Not Cooperating
---------------------------------------------------------------
CRISIL said the ratings on bank facilities of Solamalai Automobiles
Private Limited (SAPL) continues to be 'CRISIL B/Stable Issuer not
cooperating'.

                      Amount
   Facilities       (INR Crore)      Ratings
   ----------       -----------      -------
   Inventory Funding     7.75        CRISIL B/Stable (ISSUER NOT
   Facility                          COOPERATING)

   Proposed Long Term    1.40        CRISIL B/Stable (ISSUER NOT
   Bank Loan Facility                COOPERATING)

   Working Capital      10.85        CRISIL B/Stable (ISSUER NOT
   Term Loan                         COOPERATING)        

CRISIL has been consistently following up with SAPL for obtaining
information through letters and emails dated June 29, 2019 and
December 9, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'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 SAPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SAPL 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 ratings on bank
facilities of SAPL continues to be 'CRISIL B/Stable Issuer not
cooperating'.

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

SAPL was incorporated in 2003, promoted by Mr K Mani, Mr
Karthikeyan, and Mr K Vikrant. The company was a dealer for Maruti
Suzuki passenger cars in Tamil Nadu till 2015.

SRI BHAGYALAKSHMI: CRISIL Cuts Rating on INR12cr Loan to B+
-----------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Sri
Bhagyalakshmi Poha Industries (SRBHPI) to 'CRISIL B+/Stable Issuer
not cooperating'.

                      Amount
   Facilities       (INR Crore)      Ratings
   ----------       -----------      -------
   Cash Credit            12         CRISIL B+/Stable (ISSUER NOT
                                     COOPERATING; Revised from
                                     'CRISIL BB+/Stable ISSUER
                                     NOT COOPERATING')

CRISIL has been consistently following up with SRBHPI for obtaining
information through letters and emails dated June 29, 2019 and
December 9, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'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 SRBHPI, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SRBHPI 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 ratings on bank
facilities of SRBHPI Revised to 'CRISIL B+/Stable Issuer not
cooperating'.

Established in 1985, by Mr. BA Nagraj Gupta, is a proprietorship
firm that manufactures rice flakes (poha; accounting for around 50
per cent of sales) and trades in agro commodities such as rice,
paddy, wheat, and flour.

SRI GAYATHRI: CRISIL Maintains 'B' Rating in Not Cooperating
------------------------------------------------------------
CRISIL said the ratings on bank facilities of Sri Gayathri Cashews
(SGC) continues to be 'CRISIL B/Stable Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)      Ratings
   ----------       -----------      -------
   Buyer's Credit         10         CRISIL B/Stable (ISSUER NOT
                                     COOPERATING)

   Cash Credit            20         CRISIL B/Stable (ISSUER NOT
                                     COOPERATING)

CRISIL has been consistently following up with SGC for obtaining
information through letters and emails dated June 29, 2019 and
December 9, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'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 SGC, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SGC 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 ratings on bank
facilities of SGC continues to be 'CRISIL B/Stable Issuer not
cooperating'.

Established as a partnership firm in 2003, SGC trades in raw cashew
nuts and processes cashew kernels. The Cuddalore (Tamil Nadu) based
firm is promoted and managed by Mr. C Ramesh.

SRI LAKSHMI: CRISIL Maintains 'B+' Rating in Not Cooperating
------------------------------------------------------------
CRISIL said the ratings on bank facilities of Sri Lakshmi Kamakshi
Raw & Boiled Rice Mill (SLKRBRM) continues to be 'CRISIL B+/Stable
Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            8         CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

   Long Term Loan         1.8       CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with SLKRBRM for
obtaining information through letters and emails dated July 29,
2019 and December 9, 2019 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'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 SLKRBRM, which restricts
CRISIL's ability to take a forward looking view on the entity's
credit quality. CRISIL believes information available on SLKRBRM 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 ratings on bank
facilities of SLKRBRM continues to be 'CRISIL B+/Stable Issuer not
cooperating'.

Set up in 2017 as a partnership firm, SLKRBRM is engaged in milling
and processing of paddy into rice, rice bran, broken rice and husk.
It has an installed paddy milling capacity of 6 tonne per hour. The
mill is located in Nellore (Andhra Pradesh). The day to day
operations are looked by by Mr. M. Chaitanya.

SWASTIK COAL: CRISIL Maintains 'D' Rating in Not Cooperating
------------------------------------------------------------
CRISIL said the ratings on bank facilities of Swastik Coal
Corporation Private Limited (SCCPL) continues to be 'CRISIL
D/CRISIL D Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)      Ratings
   ----------       -----------      -------
   Bill Discounting      9.85        CRISIL D (ISSUER NOT
                                     COOPERATING)

   Cash Credit          15.00        CRISIL D (ISSUER NOT
                                     COOPERATING)

   Letter of Credit    252.00        CRISIL D (ISSUER NOT
                                     COOPERATING)

   Overdraft            18.15        CRISIL D (ISSUER NOT
                                     COOPERATING)

CRISIL has been consistently following up with SCCPL for obtaining
information through letters and emails dated June 29, 2019 and
December 9, 2019 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'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 SCCPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SCCPL 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 ratings on bank
facilities of SCCPL continues to be '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.

For arriving at the ratings, CRISIL has combined the business and
financial risk profiles of SCCPL, Arka Carbon Fuels Pvt Ltd (Arka
Carbon), and Shree Ganpatlal Onkarlal Agarwal & Company (Shree
Ganpatlal). This is because the three entities, together referred
to as the Swastik group, are held and managed by the same promoters
and have operational and financial linkages.

SCCPL and Arka Carbon, based in Indore (Madhya Pradesh), trade in
indigenous and imported coal. The group also provides logistic
services through Shree Ganpatlal. Established in 1984 by members of
the Bindal family for trading in indigenous coal, the group is now
focused on imported coal; it both directly imports coal from
international suppliers and relies on merchant importers in India.

U.S. IMPEX: CRISIL Migrates 'B' Rating to Not Cooperating
---------------------------------------------------------
CRISIL has migrated the rating on bank facilities of U.S. Impex
(USI) to 'CRISIL B/Stable Issuer not cooperating'.

                    Amount
   Facilities     (INR Crore)      Ratings
   ----------     -----------      -------
   Cash Credit          10         CRISIL B/Stable (ISSUER NOT
                                   COOPERATING; Rating Migrated)

CRISIL has been consistently following up with USI for obtaining
information through letters and emails dated January 6, 2020 and
January 10, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'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 USI, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on USI 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 USI to 'CRISIL B/Stable Issuer not cooperating'.

USI was set up in 1994 as a proprietorship firm in Delhi by Mr
Dinesh Mittal. The firm trades in various non-ferrous metals and
scrap, such as zinc, aluminum, brass, and copper, with zinc
accounting for more than 50% of its revenue.

VAMSADHARA GINNING: CRISIL Migrates 'B' Rating to Not Cooperating
-----------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Vamsadhara
Ginning and Pressing Industries (VGPI) to 'CRISIL B/Stable Issuer
not cooperating'.

                     Amount
   Facilities      (INR Crore)      Ratings
   ----------      -----------      -------
   Cash Credit          12          CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Rating Migrated)

   Long Term Loan        2.69       CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Rating Migrated)

   Proposed Long Term    2.31       CRISIL B/Stable (ISSUER NOT
   Bank Loan Facility               COOPERATING; Rating Migrated)

CRISIL has been consistently following up with VGPI for obtaining
information through letters and emails dated January 6, 2020 and
January 10, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'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 VGPI, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on VGPI 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 VGPI to 'CRISIL B/Stable Issuer not cooperating'.

Established in 2017, VGPI is into ginning of cotton. The firm,
located in Guntur (Andhra Pradesh), commenced commercial operation
in February 2017 and Fiscal 2018 is the first full year of
operations and is managed by Mr. Sontineni Venkateswara Rao.

VEMPARALA VENKAT: CRISIL Cuts Rating on INR5.4cr Loan to 'D'
------------------------------------------------------------
CRISIL has downgraded its rating on the long-term bank facilities
of Vemparala Venkat Rao Cotton Industries (VVR) to 'CRISIL D' from
'CRISIL B+/Stable'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           5.4        CRISIL D (Downgraded from
                                    'CRISIL B+/Stable')

   Long Term Loan        0.65       CRISIL D (Downgraded from
                                    'CRISIL B+/Stable')

   Proposed Long Term    1.95       CRISIL D (Downgraded from
   Bank Loan Facility               'CRISIL B+/Stable')


The downgrade reflects delays in servicing debt because of weak
liquidity.

The rating also reflects the firm's below-average financial risk
profile because of small networth, high gearing, and subdued debt
protection metrics. The rating factors in large working capital
requirement, susceptibility to volatility in cotton prices,
vulnerability to regulatory changes, and intense competition in the
cotton ginning industry. These weaknesses are partially offset by
the partners' extensive experience in the cotton industry.

Key Rating Drivers & Detailed Description

Weaknesses

* Below-average financial risk profile: The firm has weak debt
protection metrics as marked by   interest coverage ratio and net
cash accrual to total debt was 1.55 times and 5%, respectively, for
fiscal 2019.

* Large working capital requirement and susceptibility of profit to
volatility in cotton prices: Estimated gross current assets (GCAs)
were 155 days, as on March 31, 2019. High GCAs are a result of
moderate debtor cycle and high inventory requirement. Also, cotton
prices are volatile, as the crop is vulnerable to rainfall or even
a pest attack. Volatility in cotton prices will continue to impact
profitability over the medium term.

* Vulnerability to regulatory changes and intense competition in
the cotton ginning industry: The cotton industry is highly
regulated by the Government of India in terms of minimum support
prices and export conditions resulting in vulnerability to adverse
regulatory changes. Also, the industry is highly fragmented with
intense competition among the players.

Strengths:

Extensive industry experience of the key partner, and established
relationships with customers and suppliers: Though VVR was
incorporated in 2012, Mr Ram Babu, the key partner, has prior
trading experience in the cotton industry of over two decades,
which will help support the firm's business risk profile.

Liquidity Poor
The firm has poor liquidity which is reflected in delay of term
loans repayments and full utilization of bank lines.

Rating Sensitivity factors

Upward Factors:
* Track record of timely debt servicing for at least 90 days
* Sustainable improvement in the financial risk profile, especially
liquidity

VVR was established in 2012 as a partnership firm by Mr V Ram Babu
and his family members. The firm gins and presses raw cotton. Its
facility is in Guntur, Andhra Pradesh.

YES MOTORS: CRISIL Migrates 'B+' Rating to Not Cooperating
----------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Yes Motors
(YM) to 'CRISIL B+/Stable Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)    Ratings
   ----------       -----------    -------
   Channel Financing      3        CRISIL B+/Stable (ISSUER NOT
                                   COOPERATING; Rating Migrated)

   Overdraft              0.95     CRISIL B+/Stable (ISSUER NOT
                                   COOPERATING; Rating Migrated)

   Proposed Overdraft     1.50     CRISIL B+/Stable (ISSUER NOT
   Facility                        COOPERATING; Rating Migrated)

   Proposed Working       1.55     CRISIL B+/Stable (ISSUER NOT
   Capital Facility                COOPERATING; Rating Migrated)

CRISIL has been consistently following up with YM for obtaining
information through letters and emails dated November 30, 2019 and
December 26, 2019 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'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 YM, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on YM 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 YM to 'CRISIL B+/Stable Issuer not cooperating'.

YM, set up in 2015 by Mr Sri Kanth Rao is a partnership firm. It is
an authorised dealer for Yamaha two-wheelers in Karimnagar,
Telangana.



=================
I N D O N E S I A
=================

PAN BROTHERS: Moody's Affirms B1 CFR, Alters Outlook to Negative
----------------------------------------------------------------
Moody's Investors Service has affirmed Pan Brothers Tbk (P.T.)'s B1
corporate family rating.

At the same time, Moody's has affirmed the B1 senior unsecured
rating on the 2022 notes issued by a wholly owned subsidiary of Pan
Brothers, PB International B.V., and guaranteed by Pan Brothers and
all its subsidiaries.

Moody's has also revised the outlook on these ratings to negative
from stable.

RATINGS RATIONALE

"The change in Pan Brothers' ratings outlook to negative primarily
reflects the uncertainty associated with the refinancing of its
core $138.5 million revolving credit facility due February 2021,
amid more challenging credit conditions and heightened global and
regional turbulence," says Stephanie Cheong, a Moody's Analyst. "In
the absence of concrete near term arrangements to refinance Pan
Brothers' core facility, the rating is likely to be subject to
increasing pressure."

Pan Brothers' cash balance of $64 million as at September 30, 2019
will be sufficient to cover its operating cash needs, planned
capital spending, short-term debt repayments and projected
dividends over the next 12-18 months. But the balance is
insufficient to cover its $138.5 million revolving credit facility
maturing in February 2021, which the company mainly uses to fund
its working capital.

While the company has a track record of strong shareholder support,
and management has historically been proactive in managing its
capital structure, current market conditions could prove
challenging for Pan Brothers' refinancing efforts.

"Nonetheless, the affirmation of Pan Brothers' B1 CFR reflects its
expectation that the company's operating performance will remain
healthy and which will support its access to replacement funding,"
adds Cheong, who is also Moody's Lead Analyst for Pan Brothers.

Pan Brothers' EBITDA has grown at an average rate of 10% over the
last three years, supported by its longstanding relationships with
major global apparel retailers and ongoing investments in expanding
its production capacity. Moody's expects that Pan Brothers' ongoing
capacity expansion projects will support revenue and EBITDA growth
over the next 12-18 months.

Moody's points out that while Pan Brothers' profitability will stay
steady, the company's free cash flow will remain negative over the
next 12-18 months, as the company's working capital needs increase
to support the ramp up of new production facilities, and as it
continues to invest in increasing its production capacity. As a
result, Pan Brothers' reliance on external funding will increase,
and leverage -- as measured by debt-to-EBITDA -- will likely stay
elevated at 4.5x over the next 12-18 months; with such a level
remaining within the thresholds set for its B1 rating level.

In terms of environmental, social and governance factors, Moody's
has considered the governance risk stemming from Pan Brothers'
concentrated ownership by Ludijanto Setijo and Anne Patricia
Sutanto, who hold President and Vice President positions
respectively on the Board of Directors, and show an effective
ownership of 22.88% and 9.09% respectively in the company.

These governance concerns are partially balanced by the presence of
two independent - out of three - members on its Board of
Commissioners, and a track record of a prudent dividend policy and
strong shareholder support.

Given the negative ratings outlook, Moody's will unlikely upgrade
Pan Brothers' ratings over the next 12-18 months.

Nevertheless, the ratings outlook could return to stable, if the
company successfully refinances its $138.5 million revolving credit
facility due February 2021, and maintains solid operating
performance and profitability.

Moody's could downgrade the ratings if Pan Brothers' financial and
liquidity profiles weaken further owing to: (1) the company's
inability to proactively address the refinancing of its $138.5
million revolving credit facility due February 2021; (2) higher
than expected increase in working capital needs, which further
pressure its liquidity profile; or (3) weaker revenue growth and
deteriorating profitability, because of an industry downturn,
intense competition or regulatory changes.

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

Pan Brothers Tbk (P.T.) is the largest listed manufacturer of
garment products in Indonesia, with a total production capacity of
90 million pieces of garments per year at September 30, 2019.

The company employs around 38,000 people across 12 production
facilities in west and central Java.

Pan Brothers generated approximately $656 million in revenue for
the 12 months ended September 30, 2019.



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

KINSTEEL BHD: Gets 3-Month Extension to Submit Regularisation Plan
------------------------------------------------------------------
Justin Lim at theedgemarkets.com reports that Kinsteel Bhd has been
granted a further three-month extension by Bursa Malaysia
Securities Bhd, until April 30, to submit a regularisation plan to
the relevant authorities.

This marks the third postponement by the Practice Note 17 (PN17)
company, the report notes. The initial deadline was June 30, 2018
and this was subsequently extended to Dec. 31, 2019.

According to the report, Kinsteel said in filing on Feb. 3 that
Bursa Malaysia will proceed to delist the company's shares if it
fails to submit the regularisation plan by April 30 or to obtain
approval for the implementation of the plan.

The same fate awaits the company if it does not appeal within the
timeframe and succeed in its appeal, or if it fails to implement
the regularisation plan within the timeframe or extended timeframes
stipulated by the relevant authorities, theedgemarkets.com
relates.

If the company triggers any of the events, its securities will be
removed from the official list of Bursa Securities after two market
days from the date the company is notified by the bourse, according
to theedgemarkets.com.

                        About Kinsteel Berhad

Malaysia-based Kinsteel Berhad manufactures a range of long steel
products used in the manufacturing, construction and infrastructure
industries. The Company, with a product portfolio encompassing
upstream, midstream and downstream steel products, fully integrated
and streamlined manufacturing processes, serves the need for steel
in the region. It produces mild steel round bars, high tensile
deformed bars, angle bars and flat bars servicing, in particular,
the construction and infrastructure industries. There steel bars
and sections manufactured by the Company are also known as long
products.

In October 2016, Kinsteel triggered the criteria pursuant to
Practice Note 17 (PN17) of the Main Market listing requirements of
Bursa Malaysia Securities Bhd. The company was considered a PN17
company pursuant to paragraph 2.1(d) of PN17 as the company's
auditors have expressed a disclaimer opinion in the Kinsteel's
latest audited financial statements for the financial year ended
June 30, 2016.

On Jan. 22, 2018, the High Court in Kuantan made a winding-up order
pursuant to the Section 218 of the Companies Act 1965 against
Kinsteel and Kin Kee Marketing Sdn Bhd.

As reported in the Troubled Company Reporter-Asia Pacific on Feb.
28, 2018, The Edge Financial Daily said Kinsteel Bhd, whose shares
have been suspended from trading on Bursa Malaysia, has appointed
Messrs Ernst & Young as its liquidator after being served a notice
to do so on Feb. 20, 2018.



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

HYFLUX LTD: Simon Tay Steps Down as Director
--------------------------------------------
The Business Times reports that Hyflux Ltd said that non-executive
independent director Simon Tay has resigned voluntarily due to his
"inability to fulfil his duties as an independent director".

Mr. Tay, 59, is also a senior consultant at law firm
WongPartnership (WongP). His resignation, effective on Feb. 7, came
after "unresolved differences in opinion" regarding WongP's
decision to discharge itself from representing the water treatment
firm, Hyflux said in a regulatory filing on Feb. 7.

Both Hyflux and WongP had separately cited a "loss of confidence"
and trust in each other last month, the report notes. Hyflux then
went on to appoint Clifford Chance and Cavenagh Law as its legal
advisers in WongP's place.

According to BT, before he resigned as a director of the water
treatment firm, Mr. Tay had in a Feb. 2 Facebook post commented on
WongP's decision to discharge itself. He also said in the post that
he would be recusing himself at Hyflux and not take part in any
discussion or decision relating to WongP. Mr. Tay noted that as a
senior consultant at WongP, he does not manage the law firm.

Following that, Hyflux published a notification saying Clifford
Chance and Cavenagh Law had sent a letter to Mr. Tay on Feb. 4 to
respond to his Facebook post, BT relates.

In the letter, the lawyers wrote that Mr. Tay, as a Hyflux board
member, did not recuse himself nor object to the board's
announcement on Jan 29 which said that Hyflux has lost confidence
and trust in WongP. He also did not object to the resolution passed
by Hyflux's board on Jan 30 which contained an explanation of why
the company lost trust and confidence in WongP, according to the
letter, BT relays.

"It would appear that despite having agreed to recuse yourself from
any discussion relating to WongPartnership, you consider it
appropriate as an independent director, to discuss that very same
matter publicly," Clifford Change and Cavenagh Law said in the
letter.

The lawyers also requested Mr. Tay publish the letter as a comment
on his Facebook page, but he has not done so, Hyflux noted.

BT adds that Hyflux said that he has not denied that he did not
object to the company's Jan. 29 announcement or to the resolution
passed on Jan. 30.

As a result of his resignation from Hyflux, Mr. Tay has ceased to
be a member of Hyflux's risk management and investment committees,
the report adds.

He was appointed as non-executive independent director in May 2011.
As at Feb. 7, he held 500,000 of Hyflux's 6 per cent perpetual
securities as well as 350,000 share options in his own name, BT
discloses.

                           About Hyflux

Singapore-based Hyflux Ltd -- https://www.hyflux.com/ -- provides
various solutions in water and energy areas worldwide. The company
operates through two segments, Municipal and Industrial. The
Municipal segment supplies a range of infrastructure solutions,
including water, power, and waste-to-energy to municipalities and
governments. The Industrial segment supplies infrastructure
solutions for water to industrial customers.  It has business
operations across Asia, Middle East and Africa.

As reported in the Troubled Company Reporter-Asia Pacific on May
24, 2018, Hyflux Ltd. said that the Company and five of its
subsidiaries, namely Hydrochem (S) Pte Ltd, Hyflux Engineering Pte
Ltd, Hyflux Membrane Manufacturing (S) Pte. Ltd., Hyflux Innovation
Centre Pte. Ltd. and Tuaspring Pte. Ltd. have applied to the High
Court of the Republic of Singapore pursuant to Section 211B(1) of
the Singapore Companies Act to commence a court supervised process
to reorganize their liabilities and businesses.  The Company said
it is taking this step in order to protect the value of its
businesses while it reorganises its liabilities.

The Company engaged WongPartnership LLP as legal advisors and Ernst
& Young Solutions LLP as financial advisors in this process. On
Jan. 29, WongPartnership applied to discharge themselves due to
difficulties relating to "loss of confidence and good cause" in
working with the client.  The Company subsequently appointed
Clifford Chance and Cavenagh Law as its legal advisers in WongP's
place.

In November 2019, Hyflux entered into a restructuring deal with
United Arab Emirates-based utility Utico FZC, according to Reuters.

[*] SINGAPORE: Lists 109 Firms That Must Report Quarterly Earnings
------------------------------------------------------------------
Ishika Mookerjee at Bloomberg News reports that Singapore Exchange
Ltd. published a list of firms that are now required to provide
quarterly earnings reports based on its risk-based approach, a few
weeks after the city-state scrapped the requirement for most
companies.

Hyflux Ltd. and Best World International Ltd. were among 109 names
published on the SGX website, according to Bloomberg. The companies
either have a qualified report from auditors, worries about them as
a going concern or have been identified by the exchange itself for
regulatory concerns, the report says.

In January, the bourse scrapped mandatory quarterly reporting
requirements that applied to all companies with a market
capitalization of at least S$75 million ($54 million), Bloomberg
recalls. Instead, only riskier companies are required to report
earnings every three months, even as the exchange tightens
disclosure rules for all.

"It basically puts cross-hairs on the backs of these companies,"
Bloomberg quotes Justin Tang, head of Asian research at United
First Partners in Singapore, as saying. "It consolidates short-sell
candidates on one convenient page."

Hyflux, a water treatment firm, has been embroiled in Singapore's
highest-profile debt restructuring process for more than 18 months,
Bloomberg notes. Cosmetics maker Best World, meanwhile, was the
target of a short-seller report in 2019 that claimed it had
overstated profits in China. Shares of both firms are currently
suspended from trading, Bloomberg notes.

Hyflux will report financial statements for the quarter starting
from the completion of its debt restructuring, it said in an
exchange filing, Bloomberg relays.

In a note on Feb. 6, Tan Boon Gin, chief executive officer of SGX's
regulatory arm, also stressed the importance of disclosures of
significant litigation by all listed firms. He said disclosures
necessary to avoid the creation of a so-called false market --
where an active interference disrupts genuine supply and demand on
securities -- were just as important as providing price-sensitive
information, Bloomberg reports.

Bloomberg says the highlighted firms now have a one-year grace
period before starting quarterly reporting and the SGX will update
the list every three months. Other Singapore-listed companies,
while having the option to report quarterly, will be required to
report semi-annually, Bloomberg notes.



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

[*] BOND PRICING: For the Week Feb. 3, 2020 to Feb. 7, 2020
-----------------------------------------------------------
Issuer                     Coupon    Maturity   Currency   Price
------                     ------    --------   --------   -----


  AUSTRALIA
  ---------

CLEAN SEAS SEAFOOD LTD        8.00   11/18/22       AUD       1.03
CLIME CAPITAL LTD/FUND        6.25   11/30/21       AUD       1.01
KEYBRIDGE CAPITAL LTD         7.00   07/31/20       AUD       0.95
MIDWEST VANADIUM PTY LTD     13.25   02/15/18       USD       0.20
MIDWEST VANADIUM PTY LTD     13.25   02/15/18       USD       0.20
PALADIN ENERGY LTD           10.00   01/25/23       USD      62.30
PALADIN ENERGY LTD           10.00   01/25/23       USD      62.30
US MASTERS RESIDENTIAL PR     7.75   12/24/20       AUD      25.23


  CHINA
  -----

AKESU XINCHENG ASSET INVE     6.40   04/20/22       CNY      60.00
AKESU XINCHENG ASSET INVE     6.40   04/20/22       CNY      60.20
ALTAY PREFECTURE STATE-OW     4.85   01/22/23       CNY      59.15
ALTAY PREFECTURE STATE-OW     4.85   01/22/23       CNY      60.70
AN SHUN YU KUN REAL ESTAT     5.48   11/10/21       CNY      68.92
ANHUI CHIZHOU CITY TIANPI     7.40   10/23/20       CNY      19.60
ANHUI CHIZHOU CITY TIANPI     7.40   10/23/20       CNY      20.46
ANHUI FOREIGN ECONOMIC CO     7.30   07/13/21       CNY      70.01
ANHUI PROVINCE TONGLING I     7.30   05/13/21       CNY      40.74
ANHUI PROVINCE TONGLING I     7.30   05/13/21       CNY      47.18
ANJI COUNTY STATE-OWNED C     8.30   04/24/21       CNY      41.00
ANJI COUNTY STATE-OWNED C     8.30   04/24/21       CNY      44.57
ANKANG DEVELOPMENT & INVE     6.35   03/06/20       CNY      20.05
ANQING URBAN CONSTRUCTION     6.01   04/27/22       CNY      60.00
ANQING URBAN CONSTRUCTION     6.01   04/27/22       CNY      61.32
BAOJI HI-TECH INDUSTRIAL      8.25   04/21/21       CNY      40.00
BAOJI HI-TECH INDUSTRIAL      8.25   04/21/21       CNY      40.96
BAOTOU CITY SCIENCE EDUCA     6.48   03/25/22       CNY      61.11
BAOTOU CITY SCIENCE EDUCA     6.48   03/25/22       CNY      65.50
BAYAN ZHUOER HETAO WATER      8.54   03/31/22       CNY      46.96
BAZHONG STATE-OWNED ASSET     8.50   04/25/21       CNY      41.02
BAZHONG STATE-OWNED ASSET     8.50   04/25/21       CNY      41.65
BAZHONG STATE-OWNED ASSET     5.13   12/02/22       CNY      59.28
BAZHONG STATE-OWNED ASSET     5.13   12/02/22       CNY      60.00
BEIJING BIOMEDICINE INDUS     6.35   07/23/20       CNY      20.16
BEIJING BIOMEDICINE INDUS     6.35   07/23/20       CNY      20.40
BEIJING CAPITAL DEVELOPME     7.19   01/15/21       CNY      20.00
BEIJING CAPITAL DEVELOPME     7.19   01/15/21       CNY      20.61
BEIJING CAPITAL DEVELOPME     6.50   02/27/21       CNY      40.73
BEIJING CAPITAL DEVELOPME     6.50   02/27/21       CNY      40.83
BEIJING CHANGXIN CONSTRUC     6.74   04/22/21       CNY      40.90
BEIJING CHANGXIN CONSTRUC     6.74   04/22/21       CNY      40.94
BEIJING CHAOYANG STATE-OW     5.25   03/27/20       CNY      20.03
BEIJING CHAOYANG STATE-OW     5.25   03/27/20       CNY      20.43
BEIJING FUTURE SCIENCE PA     4.20   08/13/22       CNY      60.29
BEIJING FUTURE SCIENCE PA     4.20   08/13/22       CNY      60.36
BEIJING GUCAI GROUP CO LT     6.60   09/06/20       CNY      20.28
BEIJING GUCAI GROUP CO LT     6.60   09/06/20       CNY      23.68
BEIJING HAIDIAN STATE-OWN     5.50   08/07/20       CNY      20.10
BEIJING HAIDIAN STATE-OWN     5.50   08/07/20       CNY      20.15
BEIJING JINGMEI GROUP CO      6.14   09/09/20       CNY      20.23
BEIJING JINLIYUAN STATE-O     7.00   10/28/20       CNY      18.91
BEIJING JINLIYUAN STATE-O     7.00   10/28/20       CNY      20.43
BEIJING SHIJINGSHAN STATE     6.08   08/18/21       CNY      41.15
BEIJING SHIJINGSHAN STATE     6.08   08/18/21       CNY      43.87
BEIJING XINCHENG INFRASTR     7.50   04/21/21       CNY      40.90
BEIJING XINCHENG INFRASTR     7.50   04/21/21       CNY      41.09
BEIJING XINGZHAN INVESTME     6.66   04/24/21       CNY      40.21
BEIJING XINGZHAN INVESTME     6.66   04/24/21       CNY      40.78
BENGBU GAOXIN INVESTMENT      8.70   04/17/21       CNY      40.00
BENGBU GAOXIN INVESTMENT      8.70   04/17/21       CNY      40.88
BENXI URBAN CONSTRUCTION      6.24   01/22/22       CNY      40.00
BENXI URBAN CONSTRUCTION      6.24   01/22/22       CNY      40.39
BIJIE CONSTRUCTION INVEST     6.50   01/28/22       CNY      41.44
BIJIE CONSTRUCTION INVEST     6.50   01/28/22       CNY      65.65
BIJIE KAIYUAN CONSTRUCTIO     7.78   02/25/21       CNY      40.50
BIJIE KAIYUAN CONSTRUCTIO     7.78   02/25/21       CNY      50.00
BINZHOU HI-TECH DEVELOPME     8.60   01/10/21       CNY      20.56
BINZHOU HI-TECH DEVELOPME     8.60   01/10/21       CNY      23.40
BINZHOU ZHONGHAI VENTURE      6.65   04/13/22       CNY      60.00
BINZHOU ZHONGHAI VENTURE      6.65   04/13/22       CNY      61.20
BORALA MONGOL AUTONOMOUS      7.18   08/09/20       CNY      19.41
BORALA MONGOL AUTONOMOUS      7.18   08/09/20       CNY      20.15
BORALA MONGOL AUTONOMOUS      5.77   08/26/22       CNY      59.50
BORALA MONGOL AUTONOMOUS      5.77   08/26/22       CNY      60.17
C&D REAL ESTATE CORP LTD      6.15   04/03/20       CNY      20.09
CANGNAN COUNTY STATE OWNE     5.58   11/11/22       CNY      61.28
CANGNAN COUNTY STATE OWNE     5.58   11/11/22       CNY      68.00
CEFC SHANGHAI INTERNATION     4.08   09/09/21       CNY      60.00
CEFC SHANGHAI INTERNATION     4.98   12/10/20       CNY      61.29
CHANGCHUN MODERN AGRICULT     7.00   07/25/21       CNY      38.00
CHANGCHUN MODERN AGRICULT     7.00   07/25/21       CNY      40.63
CHANGDE ECONOMIC CONSTRUC     7.00   03/24/21       CNY      40.76
CHANGDE ECONOMIC CONSTRUC     7.00   03/24/21       CNY      41.40
CHANGDE URBAN CONSTRUCTIO     6.50   02/25/20       CNY      20.03
CHANGDE URBAN CONSTRUCTIO     6.50   02/25/20       CNY      20.03
CHANGDE URBAN CONSTRUCTIO     5.63   09/01/20       CNY      20.27
CHANGDE URBAN CONSTRUCTIO     3.59   01/12/23       CNY      58.72
CHANGDE URBAN CONSTRUCTIO     3.59   01/12/23       CNY      59.51
CHANGLE COUNTY NEWTOWN DE     5.18   12/16/22       CNY      59.63
CHANGLE COUNTY NEWTOWN DE     5.18   12/16/22       CNY      62.03
CHANGSHA COUNTY TONGTU HI     6.00   06/19/22       CNY      60.79
CHANGSHA COUNTY TONGTU HI     6.00   06/19/22       CNY      68.20
CHANGSHA COUNTY XINGCHENG     7.90   03/25/22       CNY      57.95
CHANGSHA COUNTY XINGCHENG     7.90   03/25/22       CNY      58.23
CHANGSHA ECONOMIC & TECHN     8.45   04/13/22       CNY      46.47
CHANGSHA FURONG CITY DEVE     3.88   01/26/23       CNY      80.42
CHANGSHA METRO GROUP CO L     6.20   04/23/23       CNY      62.56
CHANGSHA METRO GROUP CO L     6.20   04/23/23       CNY      64.02
CHANGSHA TIANXIN CITY CON     4.20   11/06/22       CNY      60.10
CHANGSHA TIANXIN CITY CON     4.20   11/06/22       CNY      60.14
CHANGSHA TIANXIN CITY CON     3.43   08/08/23       CNY      74.60
CHANGSHA YUHUA URBAN CONS     7.17   04/18/21       CNY      40.81
CHANGSHA YUHUA URBAN CONS     7.17   04/18/21       CNY      44.00
CHANGSHA YUHUA URBAN CONS     3.80   01/28/23       CNY      59.96
CHANGSHU BINJIANG URBAN C     6.39   09/11/21       CNY      40.00
CHANGSHU BINJIANG URBAN C     6.39   09/11/21       CNY      40.73
CHANGSHU DEVELOPMENT INVE     5.80   04/19/20       CNY      20.07
CHANGSHU DEVELOPMENT INVE     5.80   04/19/20       CNY      20.08
CHANGSHU DONGNAN ASSET IN     6.53   03/26/22       CNY      61.45
CHANGSHU DONGNAN ASSET IN     6.53   03/26/22       CNY      67.32
CHANGSHU TRANSPORTATION S     7.00   04/29/21       CNY      41.09
CHANGSHU TRANSPORTATION S     7.00   04/29/21       CNY      47.00
CHANGXING COUNTY TRANSPOR     6.75   06/16/21       CNY      40.73
CHANGXING COUNTY TRANSPOR     6.75   06/16/21       CNY      40.90
CHANGXING COUNTY TRANSPOR     7.88   04/30/21       CNY      40.97
CHANGXING COUNTY TRANSPOR     7.88   04/30/21       CNY      50.30
CHANGXING URBAN CONSTRUCT     6.00   12/03/21       CNY      39.00
CHANGXING URBAN CONSTRUCT     6.00   12/03/21       CNY      40.73
CHANGZHI CITY CONSTRUCTIO     6.46   02/26/20       CNY      20.00
CHANGZHI CITY CONSTRUCTIO     6.46   02/26/20       CNY      20.03
CHANGZHOU BINHU CONSTRUCT     8.04   12/12/20       CNY      20.00
CHANGZHOU BINHU CONSTRUCT     8.04   12/12/20       CNY      20.65
CHANGZHOU HI-TECH GROUP C     6.18   03/21/20       CNY      20.00
CHANGZHOU HI-TECH GROUP C     6.18   03/21/20       CNY      20.05
CHANGZHOU JINTAN DISTRICT     6.38   04/26/20       CNY      20.07
CHANGZHOU JINTAN DISTRICT     6.38   04/26/20       CNY      20.08
CHANGZHOU PUBLIC HOUSING      6.64   07/02/21       CNY      40.43
CHANGZHOU PUBLIC HOUSING      6.64   07/02/21       CNY      40.49
CHANGZHOU TIANNING CONSTR     6.48   02/12/22       CNY      60.00
CHANGZHOU TIANNING CONSTR     6.48   02/12/22       CNY      61.08
CHAOHU URBAN TOWN CONSTRU     6.50   04/30/22       CNY      62.07
CHAOHU URBAN TOWN CONSTRU     6.50   04/30/22       CNY      62.10
CHENGDU ECONOMIC & TECHNO     6.90   05/30/21       CNY      41.02
CHENGDU ECONOMIC & TECHNO     6.90   05/30/21       CNY      46.00
CHENGDU KONGGANG CITY CON     7.40   02/26/20       CNY      25.05
CHENGDU KONGGANG CITY CON     6.92   07/30/20       CNY      25.32
CHENGDU KONGGANG CITY CON     7.40   02/26/20       CNY      25.34
CHENGDU KONGGANG CITY CON     6.92   07/30/20       CNY      25.50
CHENGDU LONGBO INVESTMENT     8.10   04/24/21       CNY      40.72
CHENGDU PIDU DISTRICT STA     7.25   10/15/20       CNY      18.50
CHENGDU PIDU DISTRICT STA     7.25   10/15/20       CNY      20.35
CHENGDU PIDU DISTRICT STA     6.95   04/01/22       CNY      61.04
CHENGDU PIDU DISTRICT STA     6.95   04/01/22       CNY      68.83
CHENGDU SHUZHOU CITY CONS     6.58   05/26/22       CNY      59.30
CHENGDU SHUZHOU CITY CONS     6.58   05/26/22       CNY      60.35
CHENGDU XINGCHENG INVESTM     6.17   01/28/20       CNY      20.00
CHENGDU XINGCHENGJIAN IND     6.00   03/20/22       CNY      60.00
CHENGDU XINGCHENGJIAN IND     6.00   03/20/22       CNY      61.47
CHENGDU XINKAIYUAN URBAN      7.43   08/12/21       CNY      40.81
CHENGDU XINKAIYUAN URBAN      7.43   08/12/21       CNY      41.00
CHENGFA INVESTMENT GROUP      6.87   04/30/21       CNY      41.01
CHENGFA INVESTMENT GROUP      6.87   04/30/21       CNY      41.37
CHENZHOU BAIFU INVESTMENT     6.54   08/28/21       CNY      40.25
CHENZHOU BAIFU INVESTMENT     6.54   08/28/21       CNY      40.66
CHENZHOU FUCHENG HIGH TEC     4.73   01/22/23       CNY      59.88
CHENZHOU FUCHENG HIGH TEC     4.73   01/22/23       CNY      59.91
CHENZHOU HI-TECH INVESTME     6.45   01/23/22       CNY      40.33
CHENZHOU HI-TECH INVESTME     6.45   01/23/22       CNY      48.60
CHENZHOU XINTIAN INVESTME     6.30   07/17/20       CNY      20.00
CHENZHOU XINTIAN INVESTME     6.30   07/17/20       CNY      20.12
CHENZHOU XINTIAN INVESTME     6.15   04/24/22       CNY      58.82
CHINA MINSHENG INVESTMENT     7.00   12/26/20       CNY      36.65
CHINA OCEANWIDE HOLDINGS      8.90   12/13/21       CNY      57.00
CHINA SECURITY CO LTD         4.45   11/11/19       CNY      31.00
CHINA YIXING ENVIRONMENT      7.10   10/18/20       CNY      20.33
CHINA YIXING ENVIRONMENT      7.10   10/18/20       CNY      20.40
CHONGQING BANAN ECONOMIC      7.00   08/20/21       CNY      41.03
CHONGQING BANAN ECONOMIC      7.00   08/20/21       CNY      41.10
CHONGQING BANAN ECONOMIC      6.17   03/13/22       CNY      61.02
CHONGQING BANAN ECONOMIC      6.17   03/13/22       CNY      61.40
CHONGQING BEICHENG CONSTR     7.30   10/16/20       CNY      20.42
CHONGQING BEICHENG CONSTR     7.30   10/16/20       CNY      21.00
CHONGQING CHANGSHOU ECO&T     7.20   07/15/21       CNY      40.00
CHONGQING CHANGSHOU ECO&T     7.20   07/15/21       CNY      41.02
CHONGQING CHANGSHOU ECO-T     7.10   06/19/21       CNY      40.00
CHONGQING CHANGSHOU ECO-T     7.10   06/19/21       CNY      40.88
CHONGQING CITY CONSTRUCTI     5.12   05/21/20       CNY      20.06
CHONGQING CITY CONSTRUCTI     5.12   05/21/20       CNY      20.25
CHONGQING DASUN ASSET DEA     6.98   09/10/20       CNY      20.35
CHONGQING DAZU DISTRICT S     6.75   04/26/20       CNY      20.09
CHONGQING DAZU DISTRICT S     6.75   04/26/20       CNY      20.20
CHONGQING DAZU INDUSTRIAL     6.30   04/28/22       CNY      60.00
CHONGQING DAZU INDUSTRIAL     6.30   04/28/22       CNY      60.94
CHONGQING FULING DISTRICT     7.89   03/20/21       CNY      40.93
CHONGQING FULING DISTRICT     7.89   03/20/21       CNY      47.33
CHONGQING FULING TRAFFIC      6.68   02/03/22       CNY      60.00
CHONGQING FULING TRAFFIC      6.68   02/03/22       CNY      61.18
CHONGQING GAOXIN ZONE DEV     7.80   04/25/21       CNY      41.29
CHONGQING GAOXIN ZONE DEV     7.80   04/25/21       CNY      50.80
CHONGQING GARDENING INDUS     8.45   06/03/21       CNY      40.00
CHONGQING GARDENING INDUS     8.45   06/03/21       CNY      41.04
CHONGQING HAOJIANG CONSTR     7.99   11/22/20       CNY      20.00
CHONGQING HAOJIANG CONSTR     7.99   11/22/20       CNY      20.43
CHONGQING HAOJIANG CONSTR     8.05   03/06/21       CNY      40.00
CHONGQING HAOJIANG CONSTR     8.05   03/06/21       CNY      40.60
CHONGQING HECHUAN CITY CO     7.30   07/07/21       CNY      41.00
CHONGQING HECHUAN CITY CO     7.30   07/07/21       CNY      41.39
CHONGQING HECHUAN INDUSTR     6.19   06/17/20       CNY      20.16
CHONGQING HECHUAN INDUSTR     6.19   06/17/20       CNY      20.32
CHONGQING HONGYE INDUSTRI     6.30   06/03/20       CNY      20.14
CHONGQING HONGYE INDUSTRI     6.30   06/03/20       CNY      25.00
CHONGQING INTERNATIONAL L     7.08   10/18/20       CNY      20.45
CHONGQING INTERNATIONAL L     7.08   10/18/20       CNY      20.47
CHONGQING JIANGBEIZUI CEN     6.50   07/21/21       CNY      40.92
CHONGQING JIANGBEIZUI CEN     6.50   07/21/21       CNY      41.00
CHONGQING JINYUN ASSET MA     4.50   12/31/22       CNY      59.97
CHONGQING JINYUN ASSET MA     4.50   12/31/22       CNY      60.00
CHONGQING JIULONG HI-TECH     6.60   08/19/21       CNY      40.60
CHONGQING JIULONG HI-TECH     6.60   08/19/21       CNY      40.80
CHONGQING LAND PROPERTIES     6.30   08/22/20       CNY      20.26
CHONGQING LAND PROPERTIES     6.30   08/22/20       CNY      20.65
CHONGQING LIANGJIANG NEW      3.17   01/13/21       CNY      39.93
CHONGQING LIANGJIANG NEW      3.17   01/13/21       CNY      40.01
CHONGQING LIANGJIANG NEW      6.70   04/25/21       CNY      40.89
CHONGQING LIANGJIANG NEW      5.88   09/16/21       CNY      40.90
CHONGQING LIANGJIANG NEW      5.88   09/16/21       CNY      40.99
CHONGQING LIANGJIANG NEW      6.70   04/25/21       CNY      42.72
CHONGQING LIANGJIANG NEW      3.10   08/05/21       CNY      69.63
CHONGQING LIANGJIANG NEW      3.60   04/19/21       CNY      69.83
CHONGQING NANFA URBAN CON     6.43   04/27/20       CNY      20.12
CHONGQING NANFA URBAN CON     6.43   04/27/20       CNY      20.27
CHONGQING QIANJIANG CITY      8.00   03/21/21       CNY      40.89
CHONGQING QIANJIANG CITY      8.00   03/21/21       CNY      41.70
CHONGQING QIJIANG EAST NE     6.75   01/29/20       CNY      20.00
CHONGQING QIJIANG EAST NE     6.75   01/29/20       CNY      20.00
CHONGQING SHUANGFU CONSTR     7.49   10/23/20       CNY      20.00
CHONGQING SHUANGFU CONSTR     7.49   10/23/20       CNY      20.32
CHONGQING SHUANGQIAO ECON     6.75   04/26/20       CNY      20.08
CHONGQING SHUANGQIAO ECON     6.75   04/26/20       CNY      20.10
CHONGQING SHUANGQIAO ECON     5.99   11/19/21       CNY      40.01
CHONGQING SHUANGQIAO ECON     5.99   11/19/21       CNY      46.25
CHONGQING TAX FREE PORT A     7.50   04/24/21       CNY      41.24
CHONGQING TAX FREE PORT A     7.50   04/24/21       CNY      41.70
CHONGQING TEA GARDEN INDU     7.70   05/20/21       CNY      40.73
CHONGQING TONGLIANG JINLO     6.59   04/08/22       CNY      60.00
CHONGQING TONGLIANG JINLO     6.59   04/08/22       CNY      61.38
CHONGQING TONGNAN DISTRIC     4.99   12/31/22       CNY      59.71
CHONGQING TONGNAN DISTRIC     4.99   12/31/22       CNY      60.00
CHONGQING WANSHENG ECO &      6.39   04/17/20       CNY      20.01
CHONGQING WANSHENG ECO &      6.95   08/25/21       CNY      40.53
CHONGQING WANSHENG ECO &      8.19   04/08/21       CNY      40.71
CHONGQING WANSHENG ECO &      8.19   04/08/21       CNY      43.90
CHONGQING WANSHENG ECO &      6.95   08/25/21       CNY      45.00
CHONGQING WANSHENG ECO DE     5.40   11/18/21       CNY      69.15
CHONGQING WANZHOU SANXIA      4.95   08/25/22       CNY      61.05
CHONGQING WANZHOU SANXIA      4.95   08/25/22       CNY      64.21
CHONGQING XIYONG MICRO-EL     6.58   07/25/21       CNY      41.19
CHONGQING XIYONG MICRO-EL     6.58   07/25/21       CNY      42.33
CHONGQING YONGCHUAN HUITO     7.28   05/30/21       CNY      41.27
CHONGQING YONGCHUAN HUITO     7.28   05/30/21       CNY      41.60
CHONGQING YUELAI INVESTME     6.09   04/29/22       CNY      60.00
CHONGQING YUELAI INVESTME     6.09   04/29/22       CNY      61.71
CHONGQING YUNAN ASSET MAN     7.05   06/17/21       CNY      40.54
CHONGQING YUNAN ASSET MAN     7.05   06/17/21       CNY      40.77
CHONGQING YUZHONG STATE-O     7.25   02/26/21       CNY      40.70
CHONGQING YUZHONG STATE-O     7.25   02/26/21       CNY      40.75
CHUN'AN XINANJIANG DEVELO     6.10   03/11/22       CNY      61.51
CHUN'AN XINANJIANG DEVELO     6.10   03/11/22       CNY      64.55
CHUXIONG AUTONOMOUS DEVEL     6.60   03/29/20       CNY      19.80
CHUXIONG AUTONOMOUS DEVEL     6.60   03/29/20       CNY      20.04
CHUZHOU CITY CONSTRUCTION     6.40   08/22/21       CNY      41.17
CHUZHOU CITY CONSTRUCTION     6.17   11/30/21       CNY      61.42
CITIC GUOAN GROUP CORP        4.49   03/08/21       CNY      18.17
CITIC GUOAN GROUP CORP        4.23   12/15/20       CNY      18.25
CITIC GUOAN GROUP CORP        4.90   11/06/19       CNY      18.25
CITIC GUOAN GROUP CORP        5.80   12/15/19       CNY      18.25
CIXI CITY CONSTRUCTION IN     6.18   08/18/21       CNY      40.90
CIXI CITY CONSTRUCTION IN     6.18   08/18/21       CNY      48.80
DALI ECONOMIC DEVELOPMENT     8.30   12/11/20       CNY      20.60
DALI ECONOMIC DEVELOPMENT     8.30   12/11/20       CNY      20.61
DALI ECONOMIC DEVELOPMENT     7.90   03/04/21       CNY      40.00
DALI ECONOMIC DEVELOPMENT     7.90   03/04/21       CNY      40.71
DALI HAIDONG DEVELOPMENT      6.01   01/25/23       CNY      59.49
DALIAN PULANDIAN CONSTRUC     3.80   01/25/23       CNY      57.45
DALIAN PUWAN ENGINEERING      7.09   02/20/21       CNY      39.67
DALIAN RONGDA INVESTMENT      5.69   12/05/21       CNY      40.75
DALIAN RONGDA INVESTMENT      5.69   12/05/21       CNY      40.76
DALIAN RONGQIANG INVESTME     8.60   01/20/21       CNY      20.72
DALIAN RONGQIANG INVESTME     8.60   01/20/21       CNY      20.73
DALIAN RONGQIANG INVESTME     7.92   04/14/21       CNY      40.85
DALIAN RONGQIANG INVESTME     7.92   04/14/21       CNY      40.86
DANDONG PORT GROUP CO LTD     5.50   01/27/21       CNY      59.00
DANGTU COUNTY CONSTRUCTIO     5.38   08/10/22       CNY      61.38
DANGTU COUNTY CONSTRUCTIO     5.38   08/10/22       CNY      63.00
DANGYANG XINYUAN INVESTME     7.99   05/23/21       CNY      40.00
DANYANG HI-TECH INDUSTRY      6.40   04/24/22       CNY      60.00
DANYANG HI-TECH INDUSTRY      6.40   04/24/22       CNY      60.19
DANYANG INVESTMENT GROUP      6.90   10/23/20       CNY      20.15
DANYANG INVESTMENT GROUP      6.90   10/23/20       CNY      20.39
DANYANG INVESTMENT GROUP      3.99   01/25/23       CNY      59.20
DATONG ECONOMIC CONSTRUCT     4.49   10/22/22       CNY      60.31
DATONG ECONOMIC CONSTRUCT     4.49   10/22/22       CNY      60.50
DAWA COUNTY CITY CONSTRUC     6.29   06/12/22       CNY      59.33
DAWA COUNTY CITY CONSTRUC     6.29   06/12/22       CNY      62.50
DAYE ZHENHENG CITY DEVELO     7.95   11/27/20       CNY      20.55
DAYE ZHENHENG CITY DEVELO     7.95   11/27/20       CNY      20.65
DAYE ZHENHENG CITY DEVELO     7.30   03/03/21       CNY      40.68
DAYE ZHENHENG CITY DEVELO     7.30   03/03/21       CNY      43.53
DAZHOU DEVELOPMENT HOLDIN     6.55   01/14/22       CNY      40.00
DAZHOU DEVELOPMENT HOLDIN     6.55   01/14/22       CNY      41.32
DAZHOU DEVELOPMENT HOLDIN     5.10   11/27/22       CNY      60.00
DAZHOU DEVELOPMENT HOLDIN     5.10   11/27/22       CNY      60.81
DEHONGZHOU HONGKANG INVES     6.68   01/23/22       CNY      40.58
DEHONGZHOU HONGKANG INVES     6.68   01/23/22       CNY      40.65
DEYANG ECONOMIC DEVELOPME     7.90   04/28/21       CNY      40.68
DEYANG ECONOMIC DEVELOPME     7.90   04/28/21       CNY      48.26
DONGLING GROUP INC CO         8.00   07/14/22       CNY      60.00
DONGLING GROUP INC CO         8.00   07/14/22       CNY      61.86
DONGTAI UBAN CONSTRUCTION     8.65   01/13/21       CNY      20.45
DONGTAI UBAN CONSTRUCTION     8.65   01/13/21       CNY      20.72
DONGTAI UBAN CONSTRUCTION     7.58   04/23/21       CNY      40.78
DONGTAI UBAN CONSTRUCTION     7.58   04/23/21       CNY      48.48
DONGYING CITY URBAN ASSET     5.57   03/31/22       CNY      60.91
DONGYING CITY URBAN ASSET     5.57   03/31/22       CNY      61.58
DR PENG TELECOM & MEDIA G     6.00   06/16/22       CNY      47.16
DUJIANGYAN XINGYAN INVEST     6.10   03/12/22       CNY      58.59
DUJIANGYAN XINGYAN INVEST     6.10   03/12/22       CNY      60.00
DUNYUN STATE-OWNED ASSETS     6.60   12/28/22       CNY      59.95
EASTAR HOLDINGS GROUP CO      7.30   10/31/20       CNY      63.00
ENSHI URBAN CONSTRUCTION      7.50   06/03/21       CNY      41.08
ENSHI URBAN CONSTRUCTION      7.50   06/03/21       CNY      47.54
EZHOU CITY CONSTRUCTION I     6.68   09/19/21       CNY      40.49
EZHOU CITY CONSTRUCTION I     7.76   05/15/21       CNY      40.67
EZHOU CITY CONSTRUCTION I     6.68   09/19/21       CNY      41.00
EZHOU CITY CONSTRUCTION I     7.76   05/15/21       CNY      46.50
FANGCHENGGANG CITY GANGGO     8.09   04/16/21       CNY      40.86
FANGCHENGGANG CITY GANGGO     8.09   04/16/21       CNY      42.00
FENGCHENG CITY CONSTRUCTI     6.49   02/10/22       CNY      62.05
FENGCHENG CITY CONSTRUCTI     6.49   02/10/22       CNY      64.49
FENGCHENG CITY MODERN IND     5.76   12/17/22       CNY      60.00
FENGCHENG CITY MODERN IND     5.76   12/17/22       CNY      60.29
FENGXIAN URBAN INVESTMENT     4.23   07/13/21       CNY      55.26
FENGXIAN URBAN INVESTMENT     4.23   07/13/21       CNY      55.27
FENGXIAN URBAN INVESTMENT     6.48   03/20/22       CNY      60.00
FENGXIAN URBAN INVESTMENT     6.48   03/20/22       CNY      61.90
FUGU COUNTY STATE-OWNED A     8.69   12/16/20       CNY      20.69
FUGU COUNTY STATE-OWNED A     8.69   12/16/20       CNY      23.00
FUGUINIAO CO LTD              6.30   04/22/20       CNY      13.00
FUJIAN JINJIANG INDUSTRIA     7.08   06/27/21       CNY      41.00
FUJIAN JINJIANG INDUSTRIA     7.08   06/27/21       CNY      41.18
FUJIAN JINJIANG URBAN CON     6.35   04/26/20       CNY      20.10
FUJIAN JINJIANG URBAN CON     6.35   04/26/20       CNY      20.20
FUJIAN NANPING HIGHWAY CO     6.69   01/28/20       CNY      19.99
FUJIAN NANPING HIGHWAY CO     6.69   01/28/20       CNY      20.21
FUJIAN PROVINCE LIANJIANG     6.29   04/30/22       CNY      60.00
FUJIAN PROVINCE LIANJIANG     6.29   04/30/22       CNY      60.90
FUJIAN ZHANGLONG GROUP CO     4.99   08/07/22       CNY      60.00
FUJIAN ZHANGLONG GROUP CO     4.99   08/07/22       CNY      61.25
FUNING URBAN INVESTMENT D     7.19   08/15/21       CNY      40.93
FUNING URBAN INVESTMENT D     7.19   08/15/21       CNY      41.15
FUQING CITY STATE-OWNED A     6.66   03/01/21       CNY      40.52
FUQING CITY STATE-OWNED A     5.94   11/26/22       CNY      56.74
FUXIN INFRASTRUCTURE CONS     6.18   03/18/22       CNY      60.31
FUXIN INFRASTRUCTURE CONS     6.18   03/18/22       CNY      62.80
FUZHOU URBAN AND RURAL CO     5.48   01/26/22       CNY      41.07
FUZHOU URBAN AND RURAL CO     4.89   07/08/22       CNY      60.00
FUZHOU URBAN AND RURAL CO     5.48   01/26/22       CNY      60.00
FUZHOU URBAN AND RURAL CO     4.89   07/08/22       CNY      61.11
GANSU PROVINCIAL STATE-OW     5.40   03/06/20       CNY      40.08
GANSU PROVINCIAL STATE-OW     5.40   03/06/20       CNY      40.20
GANZHOU CITY DEVELOPMENT      5.50   06/16/22       CNY      60.00
GANZHOU CITY DEVELOPMENT      5.50   06/16/22       CNY      61.32
GANZHOU DEVELOPMENT ZONE      7.40   02/19/20       CNY      25.05
GANZHOU DEVELOPMENT ZONE      7.40   02/19/20       CNY      32.60
GANZHOU DEVELOPMENT ZONE      7.43   02/19/21       CNY      39.00
GANZHOU DEVELOPMENT ZONE      7.43   02/19/21       CNY      40.79
GAOMI STATE-OWNED ASSETS      4.69   01/26/23       CNY      60.85
GAOYOU CITY CONSTRUCTION      5.48   09/15/22       CNY      60.00
GAOYOU CITY CONSTRUCTION      5.48   09/15/22       CNY      61.13
GOLMUD INVESTMENT HOLDING     8.70   12/30/20       CNY      20.30
GOLMUD INVESTMENT HOLDING     8.70   12/30/20       CNY      20.67
GOOCOO INVESTMENT CO LTD      8.00   02/01/21       CNY      50.00
GREENLAND HOLDING GROUP C     6.24   05/23/20       CNY      25.10
GREENLAND HOLDING GROUP C     6.24   05/23/20       CNY      25.15
GUANGAN DEVELOPMENT AND C     6.39   03/24/22       CNY      61.43
GUANGAN DEVELOPMENT AND C     6.39   03/24/22       CNY      64.00
GUANGAN ECONOMIC & TECHNO     7.10   09/22/21       CNY      40.68
GUANGAN ECONOMIC & TECHNO     7.10   09/22/21       CNY      40.68
GUANGXI BAISE DEVELOPMENT     7.27   06/20/21       CNY      39.50
GUANGXI BAISE DEVELOPMENT     7.27   06/20/21       CNY      40.65
GUANGXI LAIBIN INDUSTRIAL     5.97   11/26/21       CNY      40.00
GUANGXI LAIBIN INDUSTRIAL     5.97   11/26/21       CNY      40.93
GUANGXI LIUZHOU DONGCHENG     7.40   10/29/20       CNY      20.32
GUANGXI LIUZHOU DONGCHENG     7.40   10/29/20       CNY      21.00
GUANGXI QINZHOU LINHAI IN     7.68   02/20/21       CNY      40.56
GUANGXI QINZHOU LINHAI IN     7.68   02/20/21       CNY      44.77
GUANGXI URBAN CONSTRUCTIO     7.59   04/14/21       CNY      41.01
GUANGXI URBAN CONSTRUCTIO     7.59   04/14/21       CNY      43.00
GUANGYUAN INVESTMENT HOLD     7.30   04/22/21       CNY      40.88
GUANGYUAN YUANQU CONSTRUC     8.35   08/26/21       CNY      41.51
GUANGYUAN YUANQU CONSTRUC     8.35   08/26/21       CNY      47.00
GUANGZHOU HUANTOU NANSHA      6.38   11/18/24       CNY      73.99
GUANGZHOU HUANTOU NANSHA      6.38   11/18/24       CNY      74.00
GUANGZHOU METRO GROUP CO      6.45   04/02/24       CNY      70.00
GUANGZHOU METRO GROUP CO      6.05   06/03/24       CNY      73.60
GUANGZHOU METRO GROUP CO      6.05   06/03/24       CNY      73.71
GUANGZHOU METRO GROUP CO      6.45   04/02/24       CNY      74.02
GUILIN CITY INVESTMENT AN     6.90   06/13/21       CNY      40.00
GUILIN CITY INVESTMENT AN     6.90   06/13/21       CNY      40.46
GUILIN ECONOMIC CONSTRUCT     5.60   04/22/22       CNY      60.00
GUILIN ECONOMIC CONSTRUCT     5.60   04/22/22       CNY      61.22
GUIRENNIAO CO LTD             7.00   12/03/19       CNY      49.50
GUIYANG BAIYUN INDUSTRY D     7.30   03/27/22       CNY      60.78
GUIYANG BAIYUN INDUSTRY D     7.30   03/27/22       CNY      65.00
GUIYANG GUANSHANHU DISTRI     4.87   01/28/23       CNY      78.89
GUIYANG URBAN CONSTRUCTIO     5.23   12/02/22       CNY      54.00
GUIYANG URBAN CONSTRUCTIO     5.23   12/02/22       CNY      59.71
GUIYANG URBAN DEVELOPMENT     6.20   02/28/20       CNY      20.01
GUIZHOU EAST LAKE CITY CO     5.18   01/06/23       CNY      57.35
GUIZHOU EAST LAKE CITY CO     5.18   01/06/23       CNY      60.92
GUIZHOU FANJINGSHAN INVES     6.95   01/28/22       CNY      40.72
GUIZHOU FANJINGSHAN INVES     6.95   01/28/22       CNY      60.00
GUIZHOU GUIAN CONSTRUCTIO     4.17   10/28/22       CNY      60.29
GUIZHOU GUIAN CONSTRUCTIO     4.17   10/28/22       CNY      61.00
GUIZHOU HONGCAI INVESTMEN     6.00   06/07/23       CNY      73.03
GUIZHOU HONGCAI INVESTMEN     6.00   06/07/23       CNY      73.07
GUIZHOU RAILWAY INVESTMEN     7.20   03/27/22       CNY      61.50
GUIZHOU RAILWAY INVESTMEN     7.20   03/27/22       CNY      62.44
GUIZHOU RAILWAY INVESTMEN     7.50   04/23/24       CNY      74.70
GUIZHOU SHUICHENG CITY IN     4.98   11/22/23       CNY      67.65
HAIAN URBAN DEMOLITION &      5.08   11/27/22       CNY      60.88
HAIAN URBAN DEMOLITION &      5.08   11/27/22       CNY      61.50
HAICHENG URBAN JINCAI LAN     8.56   12/19/20       CNY      20.51
HAICHENG URBAN JINCAI LAN     8.17   04/16/21       CNY      40.72
HAIFENG MARINE INFRASTRUC     6.84   04/29/22       CNY      60.00
HAIFENG MARINE INFRASTRUC     6.84   04/29/22       CNY      61.65
HAIMEN CITY DEVELOPMENT G     6.22   04/03/22       CNY      61.63
HAIMEN CITY DEVELOPMENT G     6.22   04/03/22       CNY      62.20
HAINAN JINHAI PULP & PAPE     6.10   04/15/20       CNY      37.50
HAINAN JINHAI PULP & PAPE     6.10   04/15/20       CNY      40.16
HAINING ASSET MANAGEMENT      6.08   03/06/20       CNY      20.04
HAINING ASSET MANAGEMENT      6.08   03/06/20       CNY      20.35
HAINING CITY DEVELOPMENT      5.58   10/22/21       CNY      40.86
HAINING CITY JIANSHAN DIS     6.90   11/04/20       CNY      20.45
HAINING CITY JIANSHAN DIS     6.90   11/04/20       CNY      21.42
HAIXI STATE DEVELOPMENT I     8.60   01/02/21       CNY      20.00
HAIXI STATE DEVELOPMENT I     8.60   01/02/21       CNY      20.62
HAIYAN COUNTY STATE-OWNED     7.00   09/04/20       CNY      20.32
HAIYAN COUNTY STATE-OWNED     7.00   09/04/20       CNY      20.70
HANDAN CONSTRUCTION & INV     5.48   05/27/22       CNY      61.32
HANDAN CONSTRUCTION & INV     5.48   05/27/22       CNY      67.20
HANGZHOU CANAL COMPREHENS     6.00   04/02/20       CNY      20.05
HANGZHOU CANAL COMPREHENS     6.00   04/02/20       CNY      20.20
HANGZHOU FUYANG CITY CONS     7.20   03/19/21       CNY      40.79
HANGZHOU FUYANG CITY CONS     7.20   03/19/21       CNY      40.81
HANGZHOU FUYANG DEVELOPME     7.70   04/28/21       CNY      41.03
HANGZHOU FUYANG DEVELOPME     7.70   04/28/21       CNY      49.00
HANGZHOU FUYANG DEVELOPME     4.76   01/27/23       CNY      60.55
HANGZHOU GONGSHU DISTRICT     6.90   07/21/21       CNY      40.40
HANGZHOU GONGSHU DISTRICT     6.90   07/21/21       CNY      41.31
HANGZHOU HIGH-TECH INDUST     6.45   01/28/20       CNY      20.01
HANGZHOU HIGH-TECH INDUST     6.45   01/28/20       CNY      20.25
HANGZHOU METRO GROUP CO L     5.97   09/17/24       CNY      73.86
HANGZHOU METRO GROUP CO L     5.97   09/17/24       CNY      73.91
HANGZHOU XIAOSHAN ECO&TEC     6.90   05/13/21       CNY      41.10
HANGZHOU YUHANG CITY CONS     7.00   03/03/21       CNY      40.83
HANGZHOU YUHANG CITY CONS     7.00   03/03/21       CNY      40.90
HANGZHOU YUHANG ECONOMIC      7.45   03/03/21       CNY      40.77
HANGZHOU YUHANG ECONOMIC      7.45   03/03/21       CNY      40.85
HANGZHOU YUHANG INNOVATIO     6.50   03/18/20       CNY      20.07
HANGZHOU YUHANG INNOVATIO     6.50   03/18/20       CNY      20.32
HANGZHOU YUHANG TRANSPORT     7.19   04/18/21       CNY      41.11
HANGZHOU YUHANG TRANSPORT     7.19   04/18/21       CNY      41.85
HANJIANG STATE-OWNED-ASSE     7.30   11/11/20       CNY      20.47
HANJIANG STATE-OWNED-ASSE     7.30   11/11/20       CNY      26.60
HAWTAI MOTOR GROUP LTD        7.20   04/14/21       CNY      60.00
HAWTAI MOTOR GROUP LTD        6.10   10/26/21       CNY      74.00
HEBEI ZHONGYUE CITY CONST     4.10   11/16/21       CNY      59.67
HEBEI ZHONGYUE CITY CONST     4.10   11/16/21       CNY      59.84
HEBI INVESTMENTS GROUP CO     7.88   08/01/21       CNY      40.99
HEBI INVESTMENTS GROUP CO     7.88   08/01/21       CNY      41.27
HECHI CITY CONSTRUCTION I     5.58   11/13/22       CNY      60.06
HECHI CITY CONSTRUCTION I     5.58   11/13/22       CNY      62.42
HEFEI CONSTRUCTION INVEST     7.20   04/29/24       CNY      74.67
HEFEI GAOXIN DEVELOPMENT      6.90   03/12/20       CNY      40.12
HEFEI INDUSTRIAL INVESTME     6.30   03/20/20       CNY      20.06
HEFEI INDUSTRIAL INVESTME     6.30   03/20/20       CNY      21.12
HEILONGJIANG HECHENG CONS     5.60   11/11/21       CNY      40.00
HEILONGJIANG HECHENG CONS     5.60   11/11/21       CNY      40.12
HEILONGJIANG HECHENG CONS     7.05   06/21/22       CNY      43.35
HEILONGJIANG HECHENG CONS     7.05   06/21/22       CNY      45.72
HEILONGJIANG POST-DISASTE     7.06   11/20/20       CNY       6.38
HEILONGJIANG POST-DISASTE     7.06   11/20/20       CNY       6.68
HEILONGJIANG POST-DISASTE     7.10   11/19/20       CNY      18.55
HEILONGJIANG POST-DISASTE     7.10   11/19/20       CNY      25.58
HEISHAN TONGHE ASSET MANA     6.79   09/18/22       CNY      59.28
HEISHAN TONGHE ASSET MANA     6.79   09/18/22       CNY      60.49
HENGYANG BAISHAZHOU DEVEL     6.87   08/22/21       CNY      40.07
HENGYANG BAISHAZHOU DEVEL     6.87   08/22/21       CNY      44.50
HENGYANG COMMUNICATION IN     4.28   01/21/23       CNY      60.00
HENGYANG COMMUNICATION IN     4.28   01/21/23       CNY      80.32
HENGYANG HONGXIANG STATE-     6.20   06/19/20       CNY      20.00
HENGYANG HONGXIANG STATE-     6.20   06/19/20       CNY      20.12
HENGYANG XIANGJIANG WATER     7.40   04/23/21       CNY      40.98
HENGYANG XIANGJIANG WATER     7.40   04/23/21       CNY      41.10
HEYUAN CITY RUNYE INVESTM     6.20   12/03/21       CNY      41.14
HEYUAN CITY RUNYE INVESTM     6.20   12/03/21       CNY      45.88
HEZE INVESTMENT DEVELOPME     7.14   03/24/21       CNY      40.82
HEZE INVESTMENT DEVELOPME     7.14   03/24/21       CNY      40.95
HEZHOU URBAN CONSTRUCTION     8.16   05/16/21       CNY      41.00
HEZHOU URBAN CONSTRUCTION     8.16   05/16/21       CNY      41.32
HNA GROUP CO LTD              5.99   11/27/22       CNY      69.02
HONGHEZHOU ROAD DEVELOPME     6.27   05/06/20       CNY      20.10
HUACHEN ENERGY CO LTD         6.63   05/18/20       USD      49.00
HUAIAN CITY URBAN ASSET O     5.70   04/23/22       CNY      61.37
HUAIAN CITY URBAN ASSET O     5.70   04/23/22       CNY      61.79
HUAI'AN DEVELOPMENT HOLDI     7.30   03/10/21       CNY      40.79
HUAI'AN DEVELOPMENT HOLDI     7.30   03/10/21       CNY      47.84
HUAI'AN NEW CITY INVESTME     7.45   03/04/21       CNY      40.00
HUAI'AN NEW CITY INVESTME     7.45   03/04/21       CNY      40.55
HUAI'AN NEW CITY INVESTME     6.95   07/28/21       CNY      41.16
HUAI'AN NEW CITY INVESTME     6.95   07/28/21       CNY      47.50
HUAIHUA CITY INDUSTRIAL P     7.70   10/29/20       CNY      20.26
HUAIHUA ECONOMIC DEVELOPM     6.80   03/26/22       CNY      60.00
HUAIHUA ECONOMIC DEVELOPM     6.80   03/26/22       CNY      60.38
HUAINAN URBAN CONSTRUCTIO     6.79   07/09/21       CNY      41.09
HUAINAN URBAN CONSTRUCTIO     6.79   07/09/21       CNY      41.65
HUANGGANG CITY CONSTRUCTI     8.60   12/25/20       CNY      20.87
HUANGGANG CITY CONSTRUCTI     7.45   03/04/21       CNY      40.70
HUANGGANG CITY CONSTRUCTI     7.45   03/04/21       CNY      40.81
HUANGGANG CITY CONSTRUCTI     4.08   01/18/23       CNY      59.50
HUANGGANG CITY CONSTRUCTI     4.08   01/18/23       CNY      60.44
HUANGSHAN CHENGTOU GROUP      5.95   05/06/22       CNY      60.65
HUANGSHAN CHENGTOU GROUP      5.95   05/06/22       CNY      61.50
HUANGSHI CIHU HIGH-TECH D     8.70   12/05/20       CNY      20.52
HUANGSHI CIHU HIGH-TECH D     9.30   01/21/21       CNY      20.94
HUANGSHI URBAN CONSTRUCTI     5.99   04/29/22       CNY      60.00
HUANGSHI URBAN CONSTRUCTI     5.99   04/29/22       CNY      61.67
HUBEI PROVINCE CHANGJIANG     6.15   04/03/22       CNY      61.61
HUBEI PROVINCE CHANGJIANG     6.15   04/03/22       CNY      62.40
HUBEI QUANZHOU YANGTZE CO     6.50   04/02/20       CNY      40.08
HUBEI QUANZHOU YANGTZE CO     6.50   04/02/20       CNY      40.11
HULUDAO INVESTMENT GROUP      7.05   10/18/20       CNY      20.38
HULUDAO INVESTMENT GROUP      7.05   10/18/20       CNY      20.52
HULUDAO INVESTMENT GROUP      7.50   10/18/23       CNY      62.49
HULUNBEIER INVESTMENT CO      6.31   04/30/22       CNY      60.00
HULUNBEIER INVESTMENT CO      6.31   04/30/22       CNY      61.14
HUNAN CHANGDE DEYUAN INVE     6.50   06/16/21       CNY      40.91
HUNAN CHANGDE DEYUAN INVE     6.50   06/16/21       CNY      42.25
HUNAN CHUZHISHENG HOLDING     5.60   12/18/22       CNY      61.48
HUNAN CHUZHISHENG HOLDING     5.60   12/18/22       CNY      61.49
HUNAN LOUDI ECONOMIC & TE     6.36   03/13/22       CNY      57.78
HUNAN LOUDI ECONOMIC & TE     6.36   03/13/22       CNY      67.00
HUNAN SHAODONG ECO-INDUST     6.50   01/11/23       CNY      59.93
HUNAN SHAODONG ECO-INDUST     6.50   01/11/23       CNY      61.90
HUNAN TIER GROUP CO LTD       8.00   12/23/20       CNY      20.67
HUNAN TIER GROUP CO LTD       8.00   12/23/20       CNY      22.72
HUNAN TIER GROUP CO LTD       7.10   03/03/21       CNY      40.87
HUNAN XIANGJIANG NEW AREA     7.36   03/17/21       CNY      40.00
HUNAN XIANGJIANG NEW AREA     7.36   03/17/21       CNY      40.84
HUNNAN JINYANG INVESTMENT     5.70   11/27/21       CNY      38.60
HUNNAN JINYANG INVESTMENT     5.70   11/27/21       CNY      39.60
HUNNAN JINYANG INVESTMENT     4.37   01/19/23       CNY      59.97
HUNNAN JINYANG INVESTMENT     4.37   01/19/23       CNY      60.00
HUZHOU URBAN CONSTRUCTION     6.48   08/28/21       CNY      40.92
HUZHOU URBAN CONSTRUCTION     6.48   08/28/21       CNY      42.38
HUZHOU WUXING NANTAIHU CO     8.79   01/16/21       CNY      20.64
HUZHOU XISAISHAN DEVELOPM     7.80   04/29/21       CNY      40.00
HUZHOU XISAISHAN DEVELOPM     7.80   04/29/21       CNY      41.07
INNER MONGOLIA JINLONG IN     7.30   11/19/22       CNY      59.50
INNER MONGOLIA JINLONG IN     7.30   11/19/22       CNY      60.23
INNER MONGOLIA KE'ERQIN U     6.45   04/30/22       CNY      59.00
INNER MONGOLIA KE'ERQIN U     6.50   03/11/22       CNY      59.10
INNER MONGOLIA KE'ERQIN U     6.45   04/30/22       CNY      60.00
INNER MONGOLIA KE'ERQIN U     6.50   03/11/22       CNY      60.00
INNER MONGOLIA SHENGXIANG     8.18   08/21/21       CNY      40.86
INNER MONGOLIA SHENGXIANG     8.18   08/21/21       CNY      44.00
INNER MONGOLIA ZHUNGEER S     6.54   12/31/21       CNY      41.35
INNER MONGOLIA ZHUNGEER S     6.54   12/31/21       CNY      42.10
JIAN CITY JINGANGSHAN DEV     7.99   06/03/21       CNY      40.87
JIAN CITY JINGANGSHAN DEV     7.99   06/03/21       CNY      40.98
JIAN CITY JINGANGSHAN DEV     4.87   01/27/23       CNY      58.55
JIANAN INVESTMENT HOLDING     6.85   05/23/21       CNY      41.05
JIANAN INVESTMENT HOLDING     6.85   05/23/21       CNY      46.50
JIANGDONG HOLDING GROUP C     7.14   04/24/21       CNY      40.85
JIANGDONG HOLDING GROUP C     7.14   04/24/21       CNY      41.00
JIANGMEN BINJIANG CONSTRU     6.60   02/28/20       CNY      20.04
JIANGMEN BINJIANG CONSTRU     6.60   02/28/20       CNY      20.25
JIANGMEN NEW HI-TECH INDU     7.39   11/04/20       CNY      20.34
JIANGMEN NEW HI-TECH INDU     7.39   11/04/20       CNY      20.61
JIANGMEN NEW HI-TECH INDU     6.03   04/22/22       CNY      61.53
JIANGMEN NEW HI-TECH INDU     6.03   04/22/22       CNY      61.77
JIANGSU HAIZHOUWAN DEVELO     5.37   03/29/23       CNY      59.50
JIANGSU HENGYUAN INVESTME     8.60   01/09/21       CNY      20.83
JIANGSU HENGYUAN INVESTME     8.60   01/09/21       CNY      29.30
JIANGSU HENGYUAN INVESTME     4.63   01/08/23       CNY      60.00
JIANGSU HENGYUAN INVESTME     4.63   01/08/23       CNY      60.30
JIANGSU HUAJING ASSETS MA     6.00   05/16/20       CNY      20.12
JIANGSU HUAJING ASSETS MA     6.00   05/16/20       CNY      20.12
JIANGSU JINGUAN INVESTMEN     7.90   04/08/21       CNY      40.80
JIANGSU JINGUAN INVESTMEN     7.90   04/08/21       CNY      40.82
JIANGSU JINTAN GUOFA INTE     6.85   05/30/21       CNY      40.00
JIANGSU JINTAN GUOFA INTE     6.85   05/30/21       CNY      40.90
JIANGSU JURONG FUDI BIO-T     7.70   03/21/21       CNY      71.61
JIANGSU JURONG FUDI BIO-T     7.70   03/21/21       CNY      71.64
JIANGSU NANTONG NO2 CONST     8.10   07/10/21       CNY      40.02
JIANGSU NEWHEADLINE DEVEL     7.00   08/27/20       CNY      25.32
JIANGSU NEWHEADLINE DEVEL     7.00   08/27/20       CNY      29.90
JIANGSU RUNCHENG ASSET OP     7.88   04/16/21       CNY      41.07
JIANGSU RUNCHENG ASSET OP     7.88   04/16/21       CNY      48.80
JIANGSU RUNQI WANGUO INDU     4.14   10/21/21       CNY      58.00
JIANGSU RUNQI WANGUO INDU     4.14   10/21/21       CNY      59.89
JIANGSU SUHAI INVESTMENT      7.28   05/29/21       CNY      40.76
JIANGSU SUHAI INVESTMENT      7.28   05/29/21       CNY      45.00
JIANGSU TAICANG PORT DEVE     7.40   04/28/21       CNY      40.00
JIANGSU TAICANG PORT DEVE     7.40   04/28/21       CNY      41.14
JIANGSU WANGTAO INVESTMEN     6.82   09/15/20       CNY      25.39
JIANGSU WANGTAO INVESTMEN     6.82   09/15/20       CNY      26.10
JIANGSU WUZHONG ECONOMIC      5.49   11/19/21       CNY      40.32
JIANGSU WUZHONG ECONOMIC      5.49   11/19/21       CNY      40.89
JIANGSU XISHAN ECONOMIC D     5.78   07/20/22       CNY      60.50
JIANGSU XISHAN ECONOMIC D     5.78   07/20/22       CNY      61.61
JIANGSU YANGKOU PORT CONS     6.23   04/10/22       CNY      60.49
JIANGSU YANGKOU PORT CONS     6.23   04/10/22       CNY      67.50
JIANGSU YIXING ECONOMIC D     7.69   04/18/21       CNY      41.03
JIANGSU YIXING ECONOMIC D     7.69   04/18/21       CNY      50.19
JIANGSU ZHUFU INDUSTRIAL      4.93   12/29/20       CNY      40.28
JIANGXI HEJI INVESTMENT C     5.09   12/17/22       CNY      60.00
JIANGXI HEJI INVESTMENT C     5.09   12/17/22       CNY      60.73
JIANGXI HUIHENG PROPERTY      4.43   08/30/21       CNY      69.12
JIANGXI HUIHENG PROPERTY      4.43   08/30/21       CNY      69.57
JIANGXI PINGXIANG CHANGSH     8.18   05/22/21       CNY      40.88
JIANGXI PINGXIANG CHANGSH     8.18   05/22/21       CNY      49.34
JIANGXI PROVINCE SITONG R     8.20   04/18/21       CNY      40.76
JIANGYIN GAOXIN DISTRICT      6.60   02/27/20       CNY      20.03
JIANGYIN LINGANG NEW CITY     7.10   11/07/20       CNY      20.26
JIANGYIN LINGANG NEW CITY     7.10   11/07/20       CNY      21.00
JIANGYOU HONGFEI INVESTME     6.55   09/02/22       CNY      59.46
JIANGYOU HONGFEI INVESTME     6.55   09/02/22       CNY      60.30
JIANHU COUNTY DEVELOPMENT     7.29   09/25/21       CNY      40.67
JIANHU COUNTY DEVELOPMENT     7.29   09/25/21       CNY      42.75
JIANHU URBAN CONSTRUCTION     6.50   02/22/20       CNY      20.01
JIANHU URBAN CONSTRUCTION     6.50   02/22/20       CNY      21.50
JIANHU URBAN CONSTRUCTION     6.30   06/01/22       CNY      59.29
JIANHU URBAN CONSTRUCTION     6.30   06/01/22       CNY      62.86
JIANHU URBAN CONSTRUCTION     3.28   10/13/21       CNY      68.88
JIANHU URBAN CONSTRUCTION     3.28   10/13/21       CNY      71.00
JIAXING ECONOMIC&TECHNOLO     7.89   03/05/21       CNY      40.91
JIAXING ECONOMIC&TECHNOLO     7.89   03/05/21       CNY      41.13
JIAXING NANHU INVESTMENT      7.45   02/26/21       CNY      40.95
JIAXING NANHU INVESTMENT      7.45   02/26/21       CNY      41.80
JIAYU COUNTY URBAN TOWN C     5.70   01/19/23       CNY      61.42
JIAYU COUNTY URBAN TOWN C     5.70   01/19/23       CNY      61.43
JIAYUGUAN CITY INFRASTRUC     7.83   09/23/21       CNY      40.00
JIAYUGUAN CITY INFRASTRUC     7.83   09/23/21       CNY      40.69
JIEYANGSHI CHENGSHI TOUZI     6.55   08/27/21       CNY      40.89
JIEYANGSHI CHENGSHI TOUZI     6.55   08/27/21       CNY      40.95
JILIN CITY CONSTRUCTION H     6.34   02/26/20       CNY      19.99
JILIN CITY CONSTRUCTION H     6.34   02/26/20       CNY      20.00
JILIN CITY CONSTRUCTION H     3.80   01/27/23       CNY      59.95
JILIN NORTHEAST SOCK INDU     6.80   12/19/21       CNY      69.88
JILIN RAILWAY INVESTMENT      7.18   03/04/21       CNY      40.22
JINAN CITY CONSTRUCTION I     6.80   03/20/21       CNY      40.78
JINAN CITY CONSTRUCTION I     6.80   03/20/21       CNY      40.90
JINAN CITY LICHENG DISTRI     5.00   06/23/22       CNY      60.10
JINAN CITY LICHENG DISTRI     5.00   06/23/22       CNY      60.11
JINAN HI-TECH HOLDING GRO     6.38   06/19/21       CNY      40.80
JINAN HI-TECH HOLDING GRO     6.38   06/19/21       CNY      40.93
JINCHANG CONSTRUCTION INV     6.79   12/21/22       CNY      60.00
JINCHANG CONSTRUCTION INV     6.79   12/21/22       CNY      60.12
JINCHENG STATE-OWNED CAPI     4.99   11/11/21       CNY      40.50
JINCHENG STATE-OWNED CAPI     4.99   11/11/21       CNY      40.62
JINGDE TAOCI CULTURAL TOU     5.38   11/27/22       CNY      59.56
JINGDE TAOCI CULTURAL TOU     5.38   11/27/22       CNY      60.00
JINGDEZHEN STATE-OWNED AS     6.59   06/25/20       CNY      20.20
JINGDEZHEN STATE-OWNED AS     6.59   06/25/20       CNY      20.40
JINGHONG STATE-OWNED ASSE     8.08   05/23/21       CNY      39.00
JINGHONG STATE-OWNED ASSE     8.08   05/23/21       CNY      40.34
JINGJIANG HARBOUR GROUP C     7.30   08/05/21       CNY      40.69
JINGJIANG HARBOUR GROUP C     7.30   08/05/21       CNY      48.68
JINGMEN CITY CONSTRUCTION     7.00   10/17/20       CNY      18.57
JINGMEN CITY CONSTRUCTION     7.00   10/17/20       CNY      20.50
JINGMEN CITY CONSTRUCTION     6.85   07/09/22       CNY      46.60
JINGMEN HIGH-TECH DEVELOP     5.48   08/11/22       CNY      59.80
JINGMEN HIGH-TECH DEVELOP     5.48   08/11/22       CNY      61.04
JINGZHOU DEVELOPMENT ZONE     8.20   12/09/20       CNY      20.52
JINGZHOU DEVELOPMENT ZONE     8.20   12/09/20       CNY      21.80
JINHU COUNTY STATE-OWNED      7.75   08/25/21       CNY      41.33
JINHU COUNTY STATE-OWNED      7.75   08/25/21       CNY      41.38
JINING CITY SHIZHONG DIST     6.39   01/29/22       CNY      61.41
JINING CITY SHIZHONG DIST     6.39   01/29/22       CNY      64.44
JINING HI-TECH TOWN CONST     6.09   04/30/22       CNY      61.50
JINING HI-TECH TOWN CONST     6.09   04/30/22       CNY      61.56
JINZHONG CITY PUBLIC INFR     6.50   03/18/20       CNY      20.05
JINZHONG CITY PUBLIC INFR     6.50   03/18/20       CNY      20.07
JINZHOU CITY INVESTMENT C     8.50   12/27/20       CNY      20.60
JINZHOU CITY INVESTMENT C     8.50   12/27/20       CNY      20.68
JINZHOU CITY INVESTMENT C     6.44   08/18/21       CNY      40.50
JINZHOU CITY INVESTMENT C     6.44   08/18/21       CNY      44.91
JINZHOU HUAXING INVESTMEN     9.10   01/21/21       CNY      20.72
JINZHOU HUAXING INVESTMEN     8.38   02/25/21       CNY      40.64
JINZHOU HUAXING INVESTMEN     8.38   02/25/21       CNY      45.00
JISHOU HUATAI STATE OWNED     7.18   02/09/22       CNY      60.67
JISHOU HUATAI STATE OWNED     7.18   02/09/22       CNY      62.82
JIUJIANG CITY CONSTRUCTIO     5.50   05/22/22       CNY      59.55
JIUJIANG CITY CONSTRUCTIO     5.50   05/22/22       CNY      61.37
JIUJIANG LAND INVESTMENT      6.20   03/23/22       CNY      60.36
JIUJIANG LAND INVESTMENT      6.20   03/23/22       CNY      61.63
JIUJIANG STATE-OWNED ASSE     6.68   03/07/20       CNY      20.07
JIUJIANG STATE-OWNED ASSE     6.68   03/07/20       CNY      20.15
JIUQUAN ECONOMIC DEVELOPM     7.40   02/26/21       CNY      40.74
JIXI STATE OWN ASSET MANA     6.87   01/19/22       CNY      40.66
JIXI STATE OWN ASSET MANA     6.87   01/19/22       CNY      40.85
KAIFENG NEW DISTRICT INFR     6.35   03/23/22       CNY      59.91
KAIFENG NEW DISTRICT INFR     6.35   03/23/22       CNY      60.53
KAIFU CITY DEVELOPMENT CO     4.20   01/21/23       CNY      57.50
KAIFU CITY DEVELOPMENT CO     4.20   01/21/23       CNY      59.90
KAILI GUIZHOU TOWN CONSTR     5.29   12/17/22       CNY      58.77
KAILI GUIZHOU TOWN CONSTR     5.29   12/17/22       CNY      60.00
KANGMEI PHARMACEUTICAL CO     5.20   07/17/22       CNY      18.63
KANGMEI PHARMACEUTICAL CO     5.47   09/15/22       CNY      20.29
KANGMEI PHARMACEUTICAL CO     6.10   03/28/21       CNY      21.20
KANGMEI PHARMACEUTICAL CO     5.29   08/16/22       CNY      21.25
KANGMEI PHARMACEUTICAL CO     7.00   06/21/21       CNY      21.25
KANGMEI PHARMACEUTICAL CO     6.80   06/28/21       CNY      21.25
KANGMEI PHARMACEUTICAL CO     5.50   04/20/21       CNY      21.82
KANGMEI PHARMACEUTICAL CO     5.33   01/27/22       CNY      36.69
KANGMEI PHARMACEUTICAL CO     6.28   03/20/21       CNY      40.00
KASHGAR SHENKA INVESTMENT     7.08   07/07/20       CNY      24.75
KASHGAR SHENKA INVESTMENT     7.08   07/07/20       CNY      25.18
KASHI URBAN CONSTRUCTION      5.80   07/20/22       CNY      60.00
KASHI URBAN CONSTRUCTION      5.80   07/20/22       CNY      61.38
KUERLE CITY CONSTRUCTION      6.99   05/20/20       CNY      25.21
KUERLE CITY CONSTRUCTION      6.99   05/20/20       CNY      25.22
KUNMING DIANCHI INVESTMEN     6.50   02/01/20       CNY      20.00
KUNMING DIANCHI INVESTMEN     6.50   02/01/20       CNY      20.16
KUNMING DONGJUN REAL ESTA     4.50   11/02/21       CNY      49.15
KUNSHAN COMMUNICATION DEV     6.95   05/22/21       CNY      40.95
KUNSHAN COMMUNICATION DEV     6.95   05/22/21       CNY      45.45
KUNSHAN HIGH TECHNOLOGY G     7.10   03/26/21       CNY      40.81
LAIWU CITY ECONOMIC DEVEL     7.08   02/28/21       CNY      40.81
LAIWU CITY ECONOMIC DEVEL     7.08   02/28/21       CNY      41.40
LANZHOU NATIONAL CAPITAL      6.32   09/10/21       CNY      34.90
LANZHOU NATIONAL CAPITAL      6.32   09/10/21       CNY      40.20
LAOHEKOU CITY CONSTRUCTIO     6.75   08/12/22       CNY      60.95
LAOHEKOU CITY CONSTRUCTIO     6.75   08/12/22       CNY      61.05
LEIYANG CITY AND RURAL CO     7.80   04/10/22       CNY      62.36
LEIYANG CITY AND RURAL CO     7.80   04/10/22       CNY      62.38
LEQING CITY STATE OWNED I     5.99   10/20/21       CNY      41.18
LESHAN STATE-OWNED ASSET      5.68   10/22/21       CNY      40.97
LESHAN STATE-OWNED ASSET      5.68   10/22/21       CNY      45.60
LIANYUNGANG TRANSPORT GRO     5.47   11/17/21       CNY      40.65
LIANYUNGANG TRANSPORT GRO     5.47   11/17/21       CNY      45.00
LIAONING COASTAL ECONOMIC     8.90   04/01/21       CNY       7.27
LIAONING COASTAL ECONOMIC     8.90   04/01/21       CNY      11.49
LILING HIGH-TECH INDUSTRI     4.93   01/19/23       CNY      59.13
LILING HIGH-TECH INDUSTRI     4.93   01/19/23       CNY      59.33
LINCANG STATE-OWNED ASSET     6.58   04/11/20       CNY      20.00
LINCANG STATE-OWNED ASSET     6.58   04/11/20       CNY      20.03
LINFEN CITY INVESTMENT GR     6.20   05/23/20       CNY      20.00
LINFEN CITY INVESTMENT GR     6.20   05/23/20       CNY      20.14
LINFEN YAODU DISTRICT INV     6.99   09/27/20       CNY      20.00
LINFEN YAODU DISTRICT INV     6.99   09/27/20       CNY      20.27
LINFEN YAODU DISTRICT INV     7.19   03/13/22       CNY      60.37
LINFEN YAODU DISTRICT INV     7.19   03/13/22       CNY      60.70
LINHAI CITY INFRASTRUCTUR     6.30   03/21/20       CNY      20.07
LINHAI CITY INFRASTRUCTUR     6.30   03/21/20       CNY      20.50
LINZHOU ECONOMIC & TECHNO     8.30   04/25/20       CNY      25.00
LINZHOU ECONOMIC & TECHNO     8.30   04/25/20       CNY      25.16
LISHUI CITY CONSTRUCTION      5.67   08/13/22       CNY      60.00
LISHUI CITY CONSTRUCTION      5.67   08/13/22       CNY      61.62
LISHUI CITY CONSTRUCTION      6.00   05/23/20       CNY      20.10
LISHUI CITY CONSTRUCTION      6.00   05/23/20       CNY      20.17
LIUPANSHUI AFFORDABLE HOU     5.08   01/29/23       CNY      78.54
LIUPANSHUI DEVELOPMENT IN     3.74   01/20/23       CNY      58.90
LIUPANSHUI DEVELOPMENT IN     3.74   01/20/23       CNY      60.12
LIUYANG MODERN MANUFACTUR     4.72   01/19/23       CNY      60.33
LIUYANG MODERN MANUFACTUR     4.72   01/19/23       CNY      79.30
LIUYANG NEW INDUSTRIAL CI     4.43   10/23/22       CNY      60.23
LIUYANG NEW INDUSTRIAL CI     4.43   10/23/22       CNY      60.30
LIUYANG URBAN CONSTRUCTIO     6.98   08/22/21       CNY      41.20
LIUYANG URBAN CONSTRUCTIO     6.98   08/22/21       CNY      41.43
LIUZHOU CITY INVESTMENT C     7.18   12/31/22       CNY      46.00
LIUZHOU CITY INVESTMENT C     7.18   12/31/22       CNY      47.28
LIUZHOU LONGJIAN INVESTME     8.28   04/30/24       CNY      74.28
LIYANG CITY CONSTRUCTION      6.20   03/08/20       CNY      20.05
LIYANG CITY CONSTRUCTION      6.20   03/08/20       CNY      20.10
LIYANG KUNLUN URBAN CONST     5.90   10/24/21       CNY      38.00
LIYANG KUNLUN URBAN CONST     5.90   10/24/21       CNY      40.85
LONGHAI STATE-OWNED ASSET     6.58   08/15/21       CNY      40.91
LOUDI CITY CONSTRUCTION I     7.95   04/15/21       CNY      40.79
LOUDI CITY CONSTRUCTION I     7.95   04/15/21       CNY      50.31
LOUDI TIDU INVESTMENT DEV     7.18   08/27/21       CNY      41.11
LOUDI TIDU INVESTMENT DEV     4.83   01/20/23       CNY      59.92
LOUDI TIDU INVESTMENT DEV     4.83   01/20/23       CNY      60.42
LU'AN CITY CONSTRUCTION I     5.20   09/25/20       CNY      50.52
LUJIANG CITY CONSTRUCTION     6.70   04/16/22       CNY      60.00
LUJIANG CITY CONSTRUCTION     6.70   04/16/22       CNY      60.88
LUOHE CITY CONSTRUCTION I     5.25   09/11/20       CNY      40.38
LUOYANG CITY DEVELOPMENT      4.47   12/02/22       CNY      60.00
LUOYANG CITY DEVELOPMENT      4.47   12/02/22       CNY      60.87
LUZHOU XINGYANG INVESTMEN     4.87   01/28/23       CNY      58.78
MA'ANSHAN CIHU HIGH TECHN     6.85   09/09/21       CNY      41.22
MA'ANSHAN CIHU HIGH TECHN     6.85   09/09/21       CNY      43.00
MAANSHAN ECONOMIC TECHNOL     6.49   03/06/22       CNY      60.66
MAANSHAN ECONOMIC TECHNOL     6.49   03/06/22       CNY      64.99
MAANSHAN HUASHAN DISTRICT     6.07   04/20/22       CNY      61.16
MAANSHAN HUASHAN DISTRICT     6.07   04/20/22       CNY      61.83
MEISHAN CITY ASSET OPERAT     7.84   02/26/21       CNY      40.89
MEISHAN HONGDA CONSTRUCTI     6.56   06/19/20       CNY      20.15
MEISHAN HONGDA CONSTRUCTI     6.56   06/19/20       CNY      20.18
MEIZHOU CITY XIN JIN YE D     6.02   04/22/22       CNY      61.57
MEIZHOU CITY XIN JIN YE D     6.02   04/22/22       CNY      65.32
MEIZHOU KANGDA HIGHWAY CO     6.95   09/10/20       CNY      20.33
MEIZHOU KANGDA HIGHWAY CO     6.95   09/10/20       CNY      20.40
MEIZHOU MEI COUNTY DISTRI     5.00   12/30/22       CNY      60.00
MEIZHOU MEI COUNTY DISTRI     5.00   12/30/22       CNY      60.29
MUDANJIANG AREA URBAN DEV     6.48   06/30/22       CNY      60.62
MUDANJIANG AREA URBAN DEV     6.48   06/30/22       CNY      65.00
MUDANJIANG CITY INVESTMEN     5.34   10/27/23       CNY      74.90
MUDANJIANG STATE-OWNED AS     7.70   04/14/21       CNY      40.60
MUDANJIANG STATE-OWNED AS     7.70   04/14/21       CNY      40.61
NANCHANG CITY CONSTRUCTIO     6.19   02/20/20       CNY      20.02
NANCHANG CITY CONSTRUCTIO     6.19   02/20/20       CNY      20.05
NANCHANG MUNICIPAL PUBLIC     5.88   02/25/20       CNY      20.00
NANCHANG MUNICIPAL PUBLIC     5.88   02/25/20       CNY      20.02
NANCHANG WATER CONSERVANC     6.28   06/21/20       CNY      20.16
NANCHANG WATER CONSERVANC     6.28   06/21/20       CNY      20.45
NANCHONG AIRPORT INVESTME     6.80   01/26/22       CNY      41.02
NANCHONG AIRPORT INVESTME     6.80   01/26/22       CNY      60.75
NANCHONG ECONOMIC DEVELOP     8.28   04/21/21       CNY      41.02
NANCHONG ECONOMIC DEVELOP     8.28   04/21/21       CNY      51.20
NANJING HEXI NEW TOWN ASS     3.20   07/22/21       CNY      69.48
NANJING JIANYE SCIENCE &      7.00   08/26/25       CNY      70.41
NANJING LISHUI ECONOMIC A     6.27   09/22/21       CNY      41.14
NANJING LISHUI ECONOMIC A     6.27   09/22/21       CNY      41.29
NANJING LISHUI URBAN CONS     5.80   05/29/20       CNY      20.07
NANJING LISHUI URBAN CONS     5.80   05/29/20       CNY      20.25
NANJING STATE OWNED ASSET     5.40   03/06/20       CNY      20.02
NANJING STATE OWNED ASSET     5.40   03/06/20       CNY      20.06
NANJING STATE OWNED ASSET     5.60   03/06/23       CNY      61.70
NANJING STATE OWNED ASSET     5.60   03/06/23       CNY      62.03
NANJING TANGSHAN CONSTRUC     6.80   06/30/21       CNY      40.88
NANJING TANGSHAN CONSTRUC     6.80   06/30/21       CNY      46.80
NANNING LVGANG CONSTRUCTI     7.30   06/27/21       CNY      40.73
NANNING LVGANG CONSTRUCTI     7.30   06/27/21       CNY      44.80
NANPING CITY WUYI NEW DIS     6.70   08/06/20       CNY      20.29
NANPING CITY WUYI NEW DIS     6.70   08/06/20       CNY      20.83
NANPING CITY WUYI NEW DIS     4.96   09/28/22       CNY      60.00
NANPING CITY WUYI NEW DIS     4.96   09/28/22       CNY      60.75
NANTONG CHONGCHUAN URBAN      7.15   04/18/21       CNY      41.08
NANTONG CHONGCHUAN URBAN      7.15   04/18/21       CNY      45.40
NANTONG CITY GANGZHA DIST     3.80   09/06/21       CNY      69.93
NANTONG CITY GANGZHA DIST     3.80   09/06/21       CNY      70.06
NANTONG ECONOMIC & TECHNO     5.80   05/17/20       CNY      20.09
NANTONG ECONOMIC & TECHNO     5.80   05/17/20       CNY      20.25
NANTONG HIGH TECHNOLOGY D     5.00   10/19/22       CNY      61.06
NANTONG HIGH TECHNOLOGY D     5.00   10/19/22       CNY      61.52
NANTONG SUTONG SCIENCE &      6.20   03/18/22       CNY      60.00
NANTONG SUTONG SCIENCE &      6.20   03/18/22       CNY      60.94
NANYANG INVESTMENT GROUP      7.05   10/24/20       CNY      20.47
NANYANG INVESTMENT GROUP      7.05   10/24/20       CNY      20.50
NEIJIANG INVESTMENT HOLDI     7.99   04/24/21       CNY      40.77
NEIJIANG INVESTMENT HOLDI     7.99   04/24/21       CNY      48.53
NEIJINAG CONSTRUCTION ENG     5.03   12/25/22       CNY      56.36
NEIJINAG CONSTRUCTION ENG     5.03   12/25/22       CNY      59.48
NEOGLORY HOLDING GROUP CO     8.00   10/22/20       CNY      56.00
NEOGLORY HOLDING GROUP CO     8.00   09/25/20       CNY      60.00
NEOGLORY HOLDING GROUP CO     8.10   11/23/18       CNY      72.00
NINGBO CITY HAISHU GUANGJ     7.75   03/06/21       CNY      41.10
NINGBO CITY HAISHU GUANGJ     7.75   03/06/21       CNY      46.30
NINGBO CITY ZHENHAI INVES     5.85   12/04/21       CNY      40.93
NINGBO CITY ZHENHAI INVES     5.85   12/04/21       CNY      40.98
NINGBO ECONOMIC & TECHNIC     7.09   04/21/21       CNY      40.89
NINGBO ECONOMIC & TECHNIC     7.09   04/21/21       CNY      49.00
NINGBO MEISHAN ISLAND DEV     6.27   03/23/22       CNY      61.57
NINGBO MEISHAN ISLAND DEV     6.27   03/23/22       CNY      68.29
NINGBO YINCHENG GROUP CO      6.50   03/18/20       CNY      20.05
NINGBO YINCHENG GROUP CO      6.50   03/18/20       CNY      20.06
NINGGUO CITY STATE OWNED      8.70   04/28/21       CNY      41.26
NINGGUO CITY STATE OWNED      8.70   04/28/21       CNY      41.50
NINGHAI COUNTY URBAN INVE     8.00   01/02/21       CNY      20.82
NINGHAI COUNTY URBAN INVE     8.00   01/02/21       CNY      25.00
NINGHAI COUNTY URBAN INVE     7.99   04/16/21       CNY      40.60
NINGHAI COUNTY URBAN INVE     7.99   04/16/21       CNY      41.23
NINGXIANG CITY CONSTRUCTI     6.70   01/20/22       CNY      40.20
NINGXIANG CITY CONSTRUCTI     6.70   01/20/22       CNY      41.60
NINGXIANG ECONOMIC TECHNO     8.20   04/16/21       CNY      40.75
NINGXIANG ECONOMIC TECHNO     3.87   01/27/23       CNY      60.41
OCEANWIDE HOLDINGS CO LTD     7.50   12/21/20       CNY      74.62
PANJIN CITY SHUANGTAIZI D     7.25   01/22/22       CNY      40.76
PANJIN CITY SHUANGTAIZI D     7.25   01/22/22       CNY      40.96
PANJIN CITY SHUANGTAIZI D     6.48   10/23/22       CNY      59.61
PANJIN CITY SHUANGTAIZI D     6.48   10/23/22       CNY      60.91
PANSHAN COUNTY STATE-OWNE     7.48   01/21/22       CNY      41.50
PANSHAN COUNTY STATE-OWNE     7.48   01/21/22       CNY      41.52
PANZHIHUA STATE OWNED ASS     5.41   07/29/20       CNY      19.30
PANZHIHUA STATE OWNED ASS     7.60   03/05/21       CNY      40.32
PANZHIHUA STATE OWNED ASS     7.60   03/05/21       CNY      40.80
PANZHIHUA STATE OWNED ASS     8.18   03/13/22       CNY      61.10
PANZHIHUA STATE OWNED ASS     8.18   03/13/22       CNY      62.27
PEIXIAN CITY INVESTMENT D     5.20   11/10/22       CNY      60.00
PEIXIAN CITY INVESTMENT D     5.20   11/10/22       CNY      60.40
PEKING UNIVERSITY FOUNDER     5.80   01/28/22       CNY      39.86
PEKING UNIVERSITY FOUNDER     6.10   08/22/21       CNY      43.02
PEKING UNIVERSITY FOUNDER     6.20   05/31/20       CNY      51.63
PEKING UNIVERSITY FOUNDER     6.50   11/16/23       CNY      51.63
PEKING UNIVERSITY FOUNDER     6.30   03/04/24       CNY      51.63
PEKING UNIVERSITY FOUNDER     6.30   09/12/20       CNY      51.63
PEKING UNIVERSITY FOUNDER     6.15   07/23/20       CNY      51.63
PEKING UNIVERSITY FOUNDER     4.80   07/26/21       CNY      51.63
PEKING UNIVERSITY FOUNDER     5.99   11/02/21       CNY      51.63
PEKING UNIVERSITY FOUNDER     6.68   08/09/23       CNY      51.63
PINGHU ECONOMIC DEVELOPME     7.99   04/17/21       CNY      40.50
PINGHU ECONOMIC DEVELOPME     7.99   04/17/21       CNY      41.09
PINGLIANG CHENGXIANG CONS     7.10   09/17/20       CNY      20.10
PINGLIANG CHENGXIANG CONS     7.10   09/17/20       CNY      20.24
PINGLIANG CULTURAL & TOUR     6.85   11/30/22       CNY      55.50
PINGLIANG CULTURAL & TOUR     6.85   11/30/22       CNY      59.72
PINGTAN COMPOSITE EXPERIM     6.58   03/15/20       CNY      20.06
PINGTAN COMPOSITE EXPERIM     6.58   03/15/20       CNY      20.06
PINGTAN COMPREHENSIVE PIL     3.92   01/29/23       CNY      60.13
PINGXIANG HUIFENG INVESTM     6.60   01/26/22       CNY      40.27
PINGXIANG HUIFENG INVESTM     6.60   01/26/22       CNY      60.00
PINGYANG STATE-OWNED ASSE     4.97   01/08/23       CNY      59.44
PINGYANG STATE-OWNED ASSE     4.97   01/08/23       CNY      60.00
PIZHOU CITY HENGRUN INVES     6.46   12/05/21       CNY      41.30
PIZHOU CITY HENGRUN INVES     6.46   12/05/21       CNY      42.46
PIZHOU ECONOMIC DEVELOPME     5.00   10/29/22       CNY      58.88
PIZHOU ECONOMIC DEVELOPME     5.00   10/29/22       CNY      60.00
PIZHOU RUNCAI ASSET MANAG     5.90   12/18/20       CNY      50.47
PUTIAN HIGH TECHNOLOGY IN     5.90   05/03/22       CNY      74.93
PUYANG INVESTMENT GROUP C     8.00   12/11/20       CNY      20.00
PUYANG INVESTMENT GROUP C     8.00   12/11/20       CNY      20.48
QIANAN URBAN CONSTRUCTION     8.88   01/23/21       CNY      20.00
QIANAN URBAN CONSTRUCTION     8.88   01/23/21       CNY      20.63
QIANAN URBAN CONSTRUCTION     7.19   08/11/21       CNY      40.00
QIANAN URBAN CONSTRUCTION     7.19   08/11/21       CNY      40.66
QIANAN XINGYUAN WATER IND     6.25   04/22/22       CNY      61.22
QIANAN XINGYUAN WATER IND     6.25   04/22/22       CNY      66.90
QIANDONGNAN TRANSPORTATIO     5.79   12/21/22       CNY      56.88
QIANDONGNAN TRANSPORTATIO     5.79   12/21/22       CNY      64.54
QIANDONGNANZHOU KAIHONG A     5.30   09/22/26       CNY      74.67
QIANJIANG URBAN CONSTRUCT     8.38   04/22/21       CNY      41.00
QIANJIANG URBAN CONSTRUCT     8.38   04/22/21       CNY      41.24
QIANJIANG URBAN CONSTRUCT     5.19   12/21/22       CNY      60.00
QIANJIANG URBAN CONSTRUCT     5.19   12/21/22       CNY      60.73
QIANNANZHOU INVESTMENT CO     6.43   03/09/22       CNY      59.43
QIDONG STATE-OWNED ASSET      7.30   11/20/22       CNY      46.50
QIDONG STATE-OWNED ASSET      7.30   11/20/22       CNY      47.64
QIDONG URBAN CONSTRUCTION     7.90   04/28/21       CNY      40.80
QIDONG URBAN CONSTRUCTION     8.20   04/04/21       CNY      41.00
QIDONG URBAN CONSTRUCTION     7.90   04/28/21       CNY      41.20
QIDONG URBAN CONSTRUCTION     8.20   04/04/21       CNY      41.25
QINGDAO CONSON DEVELOPMEN     6.40   12/12/22       CNY      47.13
QINGDAO CONSON DEVELOPMEN     6.40   12/12/22       CNY      47.20
QINGDAO HICREAT DEVELOPME     6.88   04/25/21       CNY      40.86
QINGDAO HICREAT DEVELOPME     6.88   04/25/21       CNY      41.13
QINGDAO JIAOZHOU BAY DEVE     6.33   09/18/21       CNY      41.09
QINGDAO JIAOZHOU BAY DEVE     6.33   09/18/21       CNY      41.56
QINGDAO JIMO CITY TOURISM     5.47   11/17/21       CNY      40.79
QINGDAO JIMO CITY TOURISM     5.47   11/17/21       CNY      41.00
QINGDAO LAIXI CITY ASSET      7.50   03/06/21       CNY      39.93
QINGDAO LAIXI CITY ASSET      7.50   03/06/21       CNY      48.79
QINGHAI PROVINCIAL INVEST     6.40   07/10/21       USD      32.33
QINGHAI PROVINCIAL INVEST     7.88   03/22/21       USD      35.19
QINGHAI PROVINCIAL INVEST     7.25   02/22/20       USD      53.60
QINGHAI STATE-OWNED ASSET     5.40   05/21/23       CNY      58.90
QINGYANG CITY ECONOMIC DE     7.98   04/16/21       CNY      40.98
QINGYANG CITY ECONOMIC DE     7.98   04/16/21       CNY      41.00
QINGYUAN TRANSPORTATION D     8.20   12/19/20       CNY      20.60
QINGYUAN TRANSPORTATION D     8.20   12/19/20       CNY      20.73
QINGZHOU HONGYUAN PUBLIC      7.59   05/29/21       CNY      40.70
QINGZHOU HONGYUAN PUBLIC      7.59   05/29/21       CNY      47.50
QINHUANGDAO DEVELOPMENT Z     8.00   12/17/20       CNY      20.00
QINHUANGDAO DEVELOPMENT Z     8.00   12/17/20       CNY      20.49
QINHUANGDAO DEVELOPMENT Z     8.45   04/18/21       CNY      40.92
QINHUANGDAO DEVELOPMENT Z     8.45   04/18/21       CNY      41.28
QINZHOU BINHAI NEW CITY A     7.00   08/27/20       CNY      20.17
QINZHOU BINHAI NEW CITY A     7.00   08/27/20       CNY      20.30
QINZHOU BINHAI NEW CITY Z     6.99   07/07/21       CNY      40.00
QINZHOU BINHAI NEW CITY Z     6.99   07/07/21       CNY      40.42
QIONGLAI CITY CONSTRUCTIO     6.98   03/25/22       CNY      60.94
QIONGLAI CITY CONSTRUCTIO     6.98   03/25/22       CNY      64.90
QUJING CITY QILIN DISTRIC     5.37   11/26/22       CNY      58.82
QUJING CITY QILIN DISTRIC     5.37   11/26/22       CNY      61.95
QUJING DEVELOPMENT INVEST     7.48   04/28/21       CNY      40.80
QUJING DEVELOPMENT INVEST     7.48   04/28/21       CNY      42.55
QUJING ECO TECH DEVELOPME     7.48   07/21/21       CNY      40.50
QUJING ECO TECH DEVELOPME     7.48   07/21/21       CNY      40.75
QUZHOU STATE OWNED ASSET      7.20   04/21/21       CNY      41.01
QUZHOU STATE OWNED ASSET      7.20   04/21/21       CNY      43.42
RENHUAI CITY DEVELOPMENT      8.09   05/16/21       CNY      41.15
RENHUAI CITY DEVELOPMENT      8.09   05/16/21       CNY      41.17
RENQIU CONSTRUCTION INVES     5.68   11/18/22       CNY      58.22
RENQIU CONSTRUCTION INVES     5.68   11/18/22       CNY      61.21
RENSHOU DEVELOPMENT OF IN     6.42   12/22/22       CNY      60.00
RENSHOU DEVELOPMENT OF IN     6.42   12/22/22       CNY      61.29
REWARD SCIENCE AND TECHNO     5.53   07/05/21       CNY      29.10
REWARD SCIENCE AND TECHNO     6.40   03/03/22       CNY      70.00
RIGHT WAY REAL ESTATE DEV     8.00   07/15/21       CNY      43.89
RIZHAO CITY CONSTRUCTION      5.80   06/06/20       CNY      20.12
RIZHAO CITY CONSTRUCTION      5.80   06/06/20       CNY      20.15
RIZHAO CITY CONSTRUCTION      3.98   12/07/22       CNY      59.00
RIZHAO CITY CONSTRUCTION      3.98   12/07/22       CNY      60.35
RUCHENG COUNTY HYDROPOWER     6.65   04/25/20       CNY      40.23
RUDONG COUNTY DONGTAI SOC     6.99   06/20/21       CNY      40.95
RUDONG COUNTY DONGTAI SOC     6.99   06/20/21       CNY      45.90
RUDONG COUNTY JINXIN TRAF     8.08   03/03/21       CNY      40.79
RUDONG COUNTY JINXIN TRAF     8.08   03/03/21       CNY      44.03
RUDONG COUNTY KAITAI CITY     4.57   01/08/23       CNY      60.61
RUGAO COMMUNICATIONS CONS     6.70   02/01/20       CNY      20.00
RUGAO COMMUNICATIONS CONS     6.70   02/01/20       CNY      20.81
RUGAO ECONOMIC & TRADE DE     8.30   01/22/21       CNY      20.90
RUGAO YANJIANG DEVELOPMEN     8.60   01/24/21       CNY      20.83
RUGAO YANJIANG DEVELOPMEN     8.60   01/24/21       CNY      42.43
RUIAN STATE OWNED ASSET I     4.56   01/27/23       CNY      60.78
RUZHOU CITY XINYUAN INVES     6.30   09/16/21       CNY      49.51
RUZHOU CITY XINYUAN INVES     6.30   09/16/21       CNY      53.30
SANMEN COUNTY STATE-OWNED     6.85   10/29/21       CNY      40.00
SANMEN COUNTY STATE-OWNED     6.85   10/29/21       CNY      40.94
SANMEN COUNTY STATE-OWNED     6.80   03/18/22       CNY      60.00
SANMEN COUNTY STATE-OWNED     6.80   03/18/22       CNY      61.01
SHAANXI ANKANG HIGH TECH      8.78   09/17/21       CNY      41.74
SHAANXI ANKANG HIGH TECH      8.78   09/17/21       CNY      47.00
SHAANXI PROVINCIAL EXPRES     5.99   06/18/20       CNY      60.54
SHAANXI XIXIAN NEW AREA F     6.85   08/15/21       CNY      40.71
SHAANXI XIXIAN NEW AREA F     6.85   08/15/21       CNY      45.50
SHAANXI XIXIAN NEW AREA J     6.89   01/05/22       CNY      40.86
SHAANXI XIXIAN NEW AREA J     6.89   01/05/22       CNY      43.10
SHAANXI XIXIAN NEW AREA Q     5.15   11/27/22       CNY      60.60
SHAANXI XIXIAN NEW AREA Q     5.15   11/27/22       CNY      60.82
SHANDONG BORUN INDUSTRIAL     6.50   11/02/21       CNY      65.96
SHANDONG BOXING COUNTY XI     8.00   12/22/21       CNY      41.82
SHANDONG BOXING COUNTY XI     8.00   12/22/21       CNY      42.41
SHANDONG CENTURY SUNSHINE     8.19   07/21/21       CNY      41.49
SHANDONG CENTURY SUNSHINE     8.19   07/21/21       CNY      41.50
SHANDONG FUYU CHEMICAL CO     7.70   09/18/22       CNY      70.00
SHANDONG GAOCHUANG CONSTR     6.05   06/18/22       CNY      61.39
SHANDONG GAOCHUANG CONSTR     6.05   06/18/22       CNY      62.45
SHANDONG HONGHE HOLDINGS      8.50   06/23/21       CNY      41.45
SHANDONG HONGHE HOLDINGS      8.50   06/23/21       CNY      44.00
SHANDONG JINMAO TEXTILE C     6.97   04/01/21       CNY      20.70
SHANDONG JINMAO TEXTILE C     8.00   09/25/20       CNY      35.84
SHANDONG RENCHENG RONGXIN     7.30   10/18/20       CNY      20.31
SHANDONG RENCHENG RONGXIN     7.30   10/18/20       CNY      23.40
SHANDONG RUYI TECHNOLOGY      7.90   09/18/23       CNY      53.08
SHANDONG SNTON GROUP CO L     5.18   09/08/21       CNY       8.52
SHANDONG SNTON GROUP CO L     6.20   05/30/21       CNY       9.50
SHANDONG TAIFENG HOLDING      5.80   03/12/20       CNY      20.04
SHANDONG TAIYANG INDUSTRY     5.97   03/02/21       CNY      71.43
SHANDONG TENGJIAN INVESTM     6.00   06/08/22       CNY      60.00
SHANDONG TENGJIAN INVESTM     6.00   06/08/22       CNY      60.52
SHANDONG WANTONG PETROLEU     7.97   11/29/21       CNY      33.95
SHANDONG WEISHANHU MINING     6.15   03/13/20       CNY      39.85
SHANDONG WEISHANHU MINING     6.15   03/13/20       CNY      40.02
SHANGHAI BUND GROUP DEVEL     6.35   04/24/20       CNY      18.50
SHANGHAI BUND GROUP DEVEL     6.35   04/24/20       CNY      20.10
SHANGHAI CAOHEJING HI-TEC     7.24   04/09/21       CNY      40.79
SHANGHAI CAOHEJING HI-TEC     7.24   04/09/21       CNY      40.80
SHANGHAI CHONGMING CONSTR     6.40   06/13/20       CNY      25.22
SHANGHAI FENGXIAN NANQIAO     6.25   03/05/20       CNY      20.05
SHANGHAI FENGXIAN NANQIAO     6.25   03/05/20       CNY      20.05
SHANGHAI JIADING ROAD CON     6.80   04/23/21       CNY      40.94
SHANGHAI JIADING ROAD CON     6.80   04/23/21       CNY      41.30
SHANGHAI LAKE DIANSHAN NE     5.95   01/30/21       CNY      25.53
SHANGHAI LAKE DIANSHAN NE     5.95   01/30/21       CNY      50.50
SHANGHAI MINHANG URBAN CO     5.63   04/20/22       CNY      60.79
SHANGHAI MINHANG URBAN CO     5.63   04/20/22       CNY      62.26
SHANGHAI MUNICIPAL INVEST     4.80   11/05/24       CNY      71.80
SHANGHAI MUNICIPAL INVEST     4.80   11/05/24       CNY      71.96
SHANGHAI NANHUI URBAN CON     6.04   08/20/21       CNY      40.97
SHANGHAI PUTAILAI NEW ENE     5.30   05/18/20       CNY      66.67
SHANGHAI URBAN CONSTRUCTI     3.50   01/06/23       CNY      59.62
SHANGHAI URBAN CONSTRUCTI     3.50   01/06/23       CNY      60.05
SHANGHAI YONGYE ENTERPRIS     6.84   05/21/20       CNY      25.25
SHANGLUO CITY CONSTRUCTIO     7.05   09/09/20       CNY      20.40
SHANGLUO CITY CONSTRUCTIO     7.05   09/09/20       CNY      25.40
SHANGRAO CITY STATE-OWNED     4.65   01/29/23       CNY      61.05
SHANTOU CITY CONSTRUCTION     8.57   03/23/22       CNY      47.29
SHAOWU URBAN CONSTRUCTION     5.88   09/11/22       CNY      59.93
SHAOWU URBAN CONSTRUCTION     5.88   09/11/22       CNY      63.39
SHAOXING CHENGZHONGCUN RE     6.09   04/27/22       CNY      60.00
SHAOXING CHENGZHONGCUN RE     6.09   04/27/22       CNY      61.41
SHAOXING CITY INVESTMENT      5.75   04/17/22       CNY      61.57
SHAOXING CITY INVESTMENT      5.75   04/17/22       CNY      68.00
SHAOXING CITY KEQIAO DIST     6.40   08/20/21       CNY      41.12
SHAOXING COUNTY KEYAN CON     6.28   03/24/22       CNY      60.00
SHAOXING COUNTY KEYAN CON     6.28   03/24/22       CNY      61.70
SHAOXING JINGHU NEW DISTR     6.13   04/30/22       CNY      61.20
SHAOXING JINGHU NEW DISTR     6.13   04/30/22       CNY      61.63
SHAOXING KEQIAO ECONOMIC      7.00   12/10/21       CNY      40.00
SHAOXING KEQIAO ECONOMIC      7.00   12/10/21       CNY      41.59
SHAOXING PAOJIANG INDUSTR     6.98   05/29/21       CNY      40.80
SHAOXING PAOJIANG INDUSTR     6.98   05/29/21       CNY      43.90
SHAOXING SHANGYU HANGZHOU     6.95   10/11/20       CNY      20.33
SHAOXING SHANGYU HANGZHOU     6.95   10/11/20       CNY      20.55
SHAOXING SHANGYU URBAN CO     6.80   08/07/21       CNY      41.28
SHAOYANG CITY CONSTRUCTIO     8.58   01/17/21       CNY      20.73
SHAOYANG CITY CONSTRUCTIO     8.58   01/17/21       CNY      21.00
SHENGZHOU INVESTMENT HOLD     7.60   07/17/21       CNY      41.44
SHENGZHOU INVESTMENT HOLD     7.60   07/17/21       CNY      41.57
SHENMU CITY STATE-OWNED A     7.28   06/23/21       CNY      40.89
SHENMU CITY STATE-OWNED A     7.28   06/23/21       CNY      41.30
SHENYANG DADONG STATE-OWN     6.05   03/20/22       CNY      60.00
SHENYANG DADONG STATE-OWN     6.05   03/20/22       CNY      61.13
SHENYANG ECONOMIC AFFORDA     7.17   04/29/22       CNY      60.73
SHENYANG ECONOMIC AFFORDA     7.17   04/29/22       CNY      61.26
SHENYANG SUJIATUN DISTRIC     6.40   06/20/20       CNY      20.00
SHENYANG SUJIATUN DISTRIC     6.40   06/20/20       CNY      20.11
SHENYANG TIEXI STATE-OWNE     6.00   01/14/22       CNY      41.00
SHENYANG TIEXI STATE-OWNE     6.00   01/14/22       CNY      47.50
SHENZHEN METRO GROUP CO L     5.40   03/25/23       CNY      61.60
SHENZHEN METRO GROUP CO L     5.40   03/25/23       CNY      61.75
SHENZHEN METRO GROUP CO L     6.75   01/24/24       CNY      64.51
SHENZHEN METRO GROUP CO L     6.75   01/24/24       CNY      74.35
SHIJIAZHUANG HUTUO NEW DI     5.28   12/24/25       CNY      62.50
SHIJIAZHUANG HUTUO NEW DI     5.28   12/24/25       CNY      74.16
SHIJIAZHUANG REAL ESTATE      5.65   05/15/20       CNY      20.11
SHIJIAZHUANG REAL ESTATE      5.65   05/15/20       CNY      20.13
SHIJIAZHUANG STATE-OWNED      5.75   04/09/22       CNY      61.35
SHIJIAZHUANG STATE-OWNED      5.75   04/09/22       CNY      67.20
SHIJIAZHUANG URBAN CONSTR     6.55   03/09/21       CNY      71.38
SHISHI CITY CONSTRUCTION      6.10   05/04/22       CNY      61.35
SHISHI CITY CONSTRUCTION      6.10   05/04/22       CNY      61.84
SHIYAN CITY INFRASTRUCTUR     6.88   10/11/20       CNY      20.39
SHIYAN CITY INFRASTRUCTUR     6.88   10/11/20       CNY      20.68
SHIYAN CITY INFRASTRUCTUR     6.58   08/20/21       CNY      40.00
SHIYAN CITY INFRASTRUCTUR     6.58   08/20/21       CNY      41.27
SHOUGUANG CITY CONSTRUCTI     7.10   10/18/20       CNY      20.27
SHOUGUANG CITY CONSTRUCTI     7.10   10/18/20       CNY      22.87
SHUYANG JINGYUAN ASSET OP     7.39   04/14/21       CNY      40.00
SHUYANG JINGYUAN ASSET OP     7.39   04/14/21       CNY      40.82
SHUYANG JINGYUAN ASSET OP     5.49   09/11/22       CNY      60.95
SHUYANG JINGYUAN ASSET OP     5.49   09/11/22       CNY      66.00
SICHUAN CHENGDU ABA DEVEL     7.18   09/12/20       CNY      19.90
SICHUAN CHENGDU ABA DEVEL     7.18   09/12/20       CNY      20.30
SICHUAN COAL INDUSTRY GRO     7.70   01/09/18       CNY      45.00
SICHUAN NAXING INDUSTRIAL     7.17   09/11/21       CNY      40.00
SICHUAN NAXING INDUSTRIAL     7.17   09/11/21       CNY      40.99
SICHUAN TIANYIN INDUSTRIA     6.79   03/25/22       CNY      61.27
SICHUAN TIANYIN INDUSTRIA     6.79   03/25/22       CNY      68.00
SIHONG COUNTY HONG YUAN P     6.15   03/16/22       CNY      60.00
SIHONG COUNTY HONG YUAN P     6.15   03/16/22       CNY      61.40
SIHUI STATE OWNED ASSETS      4.59   01/14/23       CNY      59.56
SIHUI STATE OWNED ASSETS      4.59   01/14/23       CNY      60.68
SIYANG COUNTY MINKANG RUR     4.94   01/21/23       CNY      58.68
SIYANG COUNTY MINKANG RUR     4.94   01/21/23       CNY      80.16
SLENDER WEST LAKE TOURISM     6.80   06/25/21       CNY      40.00
SLENDER WEST LAKE TOURISM     6.80   06/25/21       CNY      41.05
SONGYUAN URBAN DEVELOPMEN     5.79   12/04/21       CNY      39.86
SONGYUAN URBAN DEVELOPMEN     5.79   12/04/21       CNY      40.20
SUINING CITY HEDONG DEVEL     8.36   04/17/21       CNY      40.86
SUINING CITY HEDONG DEVEL     8.36   04/17/21       CNY      47.82
SUINING COUNTY RUNQI INVE     7.10   06/25/21       CNY      40.30
SUINING COUNTY RUNQI INVE     7.10   06/25/21       CNY      40.62
SUINING COUNTY RUNQI INVE     5.42   11/20/22       CNY      59.39
SUINING COUNTY RUNQI INVE     5.42   11/20/22       CNY      60.00
SUINING DEVELOPMENT INVES     6.62   04/25/20       CNY      20.11
SUINING DEVELOPMENT INVES     6.62   04/25/20       CNY      20.20
SUINING FUYUAN INDUSTRY C     6.39   03/17/22       CNY      59.71
SUINING FUYUAN INDUSTRY C     6.39   03/17/22       CNY      64.18
SUINING KAIDA INVESTMENT      8.69   04/21/21       CNY      40.00
SUINING KAIDA INVESTMENT      8.69   04/21/21       CNY      40.20
SUIZHOU CITY URBAN CONSTR     7.18   09/02/21       CNY      41.20
SUIZHOU CITY URBAN CONSTR     7.18   09/02/21       CNY      41.22
SUIZHOU DEVELOPMENT INVES     8.50   12/20/20       CNY      20.79
SUIZHOU DEVELOPMENT INVES     8.50   12/20/20       CNY      21.83
SUIZHOU DEVELOPMENT INVES     8.40   04/30/21       CNY      41.20
SUIZHOU DEVELOPMENT INVES     8.40   04/30/21       CNY      41.91
SUNSHINE KAIDI NEW ENERGY     6.12   08/23/20       CNY      29.01
SUNSHINE KAIDI NEW ENERGY     6.12   08/23/20       CNY      40.14
SUQIAN CITY CONSTRUCTION      6.88   10/29/20       CNY      20.39
SUQIAN CITY CONSTRUCTION      6.88   10/29/20       CNY      20.48
SUZHOU CITY CONSTRUCTION      6.40   04/17/20       CNY      20.09
SUZHOU CITY CONSTRUCTION      6.40   04/17/20       CNY      24.80
SUZHOU FENHU INVESTMENT G     7.49   02/28/21       CNY      40.70
SUZHOU FENHU INVESTMENT G     7.49   02/28/21       CNY      40.83
SUZHOU NEW DISTRICT ECONO     6.20   07/22/21       CNY      40.87
SUZHOU NEW DISTRICT ECONO     6.20   07/22/21       CNY      41.00
SUZHOU WUJIANG COMMUNICAT     6.80   10/31/20       CNY      25.54
SUZHOU WUJIANG DISTRICT I     5.25   07/08/22       CNY      60.80
SUZHOU WUJIANG DISTRICT I     5.25   07/08/22       CNY      61.15
SUZHOU XIANGCHENG URBAN C     6.95   03/19/21       CNY      40.90
SUZHOU XIANGCHENG URBAN C     6.95   03/19/21       CNY      42.60
TAICANG ASSETS MANAGEMENT     7.00   02/27/21       CNY      40.57
TAICANG ASSETS MANAGEMENT     7.00   02/27/21       CNY      40.70
TAICANG SCIENCE EDUCATION     5.54   08/28/22       CNY      61.40
TAICANG SCIENCE EDUCATION     5.54   08/28/22       CNY      64.65
TAIXING CITY CHENGXING ST     8.30   12/12/20       CNY      20.60
TAIXING CITY CHENGXING ST     8.30   12/12/20       CNY      21.30
TAIXING CITY HONGQIAO YUA     5.03   10/29/22       CNY      60.67
TAIXING CITY HONGQIAO YUA     5.03   10/29/22       CNY      63.87
TAIYUAN ECONOMIC TECHNOLO     7.43   04/24/21       CNY      40.00
TAIYUAN ECONOMIC TECHNOLO     7.43   04/24/21       CNY      40.97
TAIYUAN HIGH-SPEED RAILWA     6.50   10/30/20       CNY      25.50
TAIYUAN HIGH-SPEED RAILWA     5.18   09/06/20       CNY      40.41
TAIYUAN STATE-OWNED INVES     7.20   03/19/21       CNY      40.93
TAIYUAN STATE-OWNED INVES     7.20   03/19/21       CNY      46.50
TAIZHOU CITY CONSTRUCTION     6.92   10/16/23       CNY      63.50
TAIZHOU CITY CONSTRUCTION     6.92   10/16/23       CNY      63.80
TAIZHOU CITY JIANGYAN DIS     8.50   04/23/20       CNY      25.10
TAIZHOU CITY JIANGYAN DIS     8.50   04/23/20       CNY      25.31
TAIZHOU CITY JIANGYAN URB     7.10   09/03/20       CNY      20.32
TAIZHOU CITY JIANGYAN URB     7.10   09/03/20       CNY      20.60
TAIZHOU CITY NEW BINJIANG     7.60   03/05/21       CNY      40.74
TAIZHOU CITY NEW BINJIANG     7.60   03/05/21       CNY      41.00
TAIZHOU HAILING CITY DEVE     4.60   12/14/22       CNY      60.00
TAIZHOU HAILING CITY DEVE     4.60   12/14/22       CNY      60.10
TAIZHOU JIAOJIANG STATE O     7.46   09/13/20       CNY      25.53
TAIZHOU JIAOJIANG STATE O     7.46   09/13/20       CNY      26.00
TAIZHOU JIAOJIANG STATE O     6.18   07/06/22       CNY      61.73
TAIZHOU JIAOJIANG STATE O     6.18   07/06/22       CNY      64.00
TAIZHOU TRAFFIC INDUSTRY      6.15   03/11/20       CNY      20.04
TAIZHOU TRAFFIC INDUSTRY      6.15   03/11/20       CNY      20.33
TANGSHAN CAOFEIDIAN DEVEL     7.50   10/15/20       CNY      20.25
TANGSHAN CAOFEIDIAN DEVEL     7.50   10/15/20       CNY      20.26
TIANJIN BAOXING INDUSTRY      7.10   10/17/20       CNY      19.70
TIANJIN BAOXING INDUSTRY      7.10   10/17/20       CNY      20.33
TIANJIN BEICHEN DISTRICT      7.00   04/21/21       CNY      40.38
TIANJIN BEICHEN DISTRICT      7.00   04/21/21       CNY      47.15
TIANJIN BEICHEN TECHNOLOG     6.87   08/20/21       CNY      40.26
TIANJIN BEICHEN TECHNOLOG     6.87   08/20/21       CNY      47.00
TIANJIN BINHAI NEW AREA C     5.19   03/13/20       CNY      20.03
TIANJIN BINHAI NEW AREA C     5.19   03/13/20       CNY      20.25
TIANJIN BINHAI NEW AREA C     6.10   11/23/21       CNY      43.90
TIANJIN DONGFANG CAIXIN I     5.19   01/29/22       CNY      40.44
TIANJIN DONGFANG CAIXIN I     5.19   01/29/22       CNY      59.59
TIANJIN DONGLI CITY INFRA     6.05   06/19/20       CNY      19.96
TIANJIN DONGLI CITY INFRA     4.28   12/02/22       CNY      59.10
TIANJIN ECONOMIC TECHNOLO     6.50   12/03/22       CNY      46.30
TIANJIN ECONOMIC TECHNOLO     6.50   12/03/22       CNY      46.54
TIANJIN GUANGCHENG INVEST     7.45   07/24/21       CNY      40.71
TIANJIN GUANGCHENG INVEST     7.45   07/24/21       CNY      49.00
TIANJIN GUANGCHENG INVEST     6.97   02/22/23       CNY      59.44
TIANJIN HARBOR CONSTRUCTI     8.80   01/24/21       CNY      41.76
TIANJIN HARBOR CONSTRUCTI     6.29   10/21/21       CNY      70.11
TIANJIN HARBOR CONSTRUCTI     8.00   04/01/21       CNY      70.93
TIANJIN HI-TECH INDUSTRY      6.65   09/12/21       CNY      40.59
TIANJIN HOPETONE CO LTD       7.50   07/25/21       CNY      47.57
TIANJIN HUANCHENG URBAN I     7.20   03/21/21       CNY      40.35
TIANJIN HUANCHENG URBAN I     7.20   03/21/21       CNY      40.73
TIANJIN HUANCHENG URBAN I     5.75   04/27/22       CNY      60.33
TIANJIN HUANCHENG URBAN I     5.75   04/27/22       CNY      61.70
TIANJIN INFRASTRUCTURE CO     5.70   02/26/23       CNY      61.27
TIANJIN INFRASTRUCTURE CO     5.70   02/26/23       CNY      61.69
TIANJIN JINNAN CITY CONST     6.50   06/03/21       CNY      40.57
TIANJIN LINGANG INVESTMEN     7.75   02/26/21       CNY      40.69
TIANJIN LINGANG INVESTMEN     7.75   02/26/21       CNY      41.00
TIANJIN NINGHE DISTRICT X     7.00   05/30/21       CNY      40.65
TIANJIN NINGHE DISTRICT X     7.00   05/30/21       CNY      47.50
TIANJIN REAL ESTATE GROUP     4.50   09/29/20       USD      50.00
TIANJIN REAL ESTATE TRUST     8.59   03/13/21       CNY      39.30
TIANJIN REAL ESTATE TRUST     8.59   03/13/21       CNY      40.94
TIANJIN RESIDENTIAL CONST     8.00   12/19/20       CNY      20.12
TIANJIN TEDA INVESTMENT H     6.89   04/27/20       CNY      19.99
TIANJIN WATER INVESTMENT      8.40   01/15/21       CNY      25.85
TIANJIN WATER INVESTMENT      6.60   07/28/21       CNY      38.70
TIANJIN WATER INVESTMENT      6.60   07/28/21       CNY      41.80
TIANJIN WUQING STATE-OWNE     8.00   12/17/20       CNY      20.74
TIANJIN WUQING STATE-OWNE     8.00   12/17/20       CNY      20.76
TIANJIN WUQING STATE-OWNE     7.18   03/19/21       CNY      40.81
TIANJIN WUQING STATE-OWNE     7.18   03/19/21       CNY      40.89
TIANJIN WUQING STATE-OWNE     4.15   11/17/22       CNY      59.40
TIANJIN WUQING STATE-OWNE     4.15   11/17/22       CNY      60.33
TIANMEN CITY CONSTRUCTION     8.20   08/28/21       CNY      41.46
TIANMEN CITY CONSTRUCTION     8.20   08/28/21       CNY      45.16
TIANRUI GROUP CEMENT CO L     5.95   09/25/20       CNY      50.00
TONGCHENG CITY CONSTRUCTI     5.47   11/09/22       CNY      60.00
TONGCHENG CITY CONSTRUCTI     5.47   11/09/22       CNY      60.25
TONGLING CONSTRUCTION INV     6.98   08/26/20       CNY      20.33
TONGLING DAJIANG INVESTME     6.50   01/19/22       CNY      41.09
TONGLING DAJIANG INVESTME     6.50   01/19/22       CNY      48.00
TONGLU STATE-OWNED ASSET      8.09   04/18/21       CNY      40.98
TONGLU STATE-OWNED ASSET      8.09   04/18/21       CNY      41.14
TONGXIANG CITY CONSTRUCTI     6.10   05/16/20       CNY      20.10
TULUFAN DISTRICT STATE-OW     6.20   03/19/22       CNY      61.37
TULUFAN DISTRICT STATE-OW     6.20   03/19/22       CNY      61.38
TUNGHSU GROUP CO LTD          6.55   03/13/22       CNY      45.00
URUMQI ECO&TECH DEVELOPME     6.40   04/13/22       CNY      60.00
URUMQI ECO&TECH DEVELOPME     6.40   04/13/22       CNY      61.71
URUMQI GAOXIN INVESTMENT      6.18   03/05/20       CNY      20.05
URUMQI GAOXIN INVESTMENT      6.18   03/05/20       CNY      20.07
WANGCHENG ECONOMIC DEVELO     6.57   01/22/22       CNY      42.23
WANGCHENG ECONOMIC DEVELO     6.57   01/22/22       CNY      48.81
WEICHI HOLDING GROUP CO L     5.40   12/21/20       CNY      59.66
WEIFANG BINHAI INVESTMENT     6.16   04/16/21       CNY      40.76
WEIHAI LANCHUANG CONSTRUC     4.80   12/17/22       CNY      59.39
WEIHAI LANCHUANG CONSTRUC     4.80   12/17/22       CNY      60.08
WEINAN CITY INVESTMENT GR     6.09   03/11/22       CNY      60.00
WEINAN CITY INVESTMENT GR     6.09   03/11/22       CNY      61.33
WENZHOU CITY CONSTRUCTION     4.05   01/25/23       CNY      60.32
WENZHOU HIGH-TECH INDUSTR     7.30   05/30/21       CNY      41.02
WENZHOU HIGH-TECH INDUSTR     7.95   03/21/21       CNY      41.13
WENZHOU LUCHENG CITY DEVE     5.58   11/03/21       CNY      40.82
WENZHOU LUCHENG CITY DEVE     5.58   11/03/21       CNY      43.00
WINTIME ENERGY CO LTD         7.50   11/16/20       CNY      43.63
WINTIME ENERGY CO LTD         7.70   11/15/20       CNY      43.63
WINTIME ENERGY CO LTD         7.50   04/04/21       CNY      43.63
WINTIME ENERGY CO LTD         7.30   08/06/18       CNY      43.63
WINTIME ENERGY CO LTD         7.00   07/05/18       CNY      43.63
WINTIME ENERGY CO LTD         7.90   12/22/20       CNY      43.63
WINTIME ENERGY CO LTD         7.00   08/25/18       CNY      43.63
WINTIME ENERGY CO LTD         7.00   04/26/19       CNY      43.63
WINTIME ENERGY CO LTD         7.50   12/06/20       CNY      43.63
WINTIME ENERGY CO LTD         7.90   03/29/21       CNY      43.63
WINTIME ENERGY CO LTD         6.78   10/23/18       CNY      43.63
WINTIME ENERGY CO LTD         7.00   03/19/19       CNY      43.63
WINTIME ENERGY CO LTD         7.00   12/15/18       CNY      43.63
WUHAI CITY CONSTRUCTION I     8.19   04/21/21       CNY      41.00
WUHAN CHEDU CORP LTD          7.18   02/27/21       CNY      40.84
WUHAN CHEDU CORP LTD          7.18   02/27/21       CNY      40.96
WUHAN CITY HUANPI DISTRIC     6.43   09/17/21       CNY      41.23
WUHAN CITY HUANPI DISTRIC     6.43   09/17/21       CNY      43.02
WUHAN JIANGXIA URBAN CONS     8.99   01/20/21       CNY      21.03
WUHAN METRO GROUP CO LTD      5.70   02/04/20       CNY      20.00
WUHAN METRO GROUP CO LTD      5.70   02/04/20       CNY      20.00
WUHAN METRO GROUP CO LTD      5.25   04/14/22       CNY      61.17
WUHAN URBAN CONSTRUCTION      5.60   03/08/20       CNY      20.03
WUHU COUNTY CONSTRUCTION      6.60   12/08/21       CNY      41.44
WUHU COUNTY CONSTRUCTION      6.60   12/08/21       CNY      46.35
WUHU JINGHU CONSTRUCTION      6.68   05/16/20       CNY      20.14
WUHU JIUJIANG CONSTRUCTIO     8.49   04/14/21       CNY      40.00
WUHU JIUJIANG CONSTRUCTIO     8.49   04/14/21       CNY      41.27
WUHU XINMA INVESTMENT CO      4.87   11/04/22       CNY      58.90
WUHU XINMA INVESTMENT CO      4.87   11/04/22       CNY      61.03
WUHU YIJU INVESTMENT GROU     6.45   08/11/21       CNY      41.20
WUHU YIJU INVESTMENT GROU     6.45   08/11/21       CNY      41.45
WUWEI CITY ECONOMY DEVELO     8.20   12/09/20       CNY      20.38
WUWEI CITY ECONOMY DEVELO     8.20   12/09/20       CNY      22.53
WUWEI CITY ECONOMY DEVELO     8.20   04/24/21       CNY      40.60
WUWEI CITY ECONOMY DEVELO     8.20   04/24/21       CNY      40.69
WUXI HUNING METRO HUISHAN     4.38   06/08/21       CNY      70.00
WUXI HUNING METRO HUISHAN     4.38   06/08/21       CNY      70.31
WUXI MUNICIPAL DEVELOPMEN     6.10   10/11/20       CNY      20.30
WUXI MUNICIPAL DEVELOPMEN     6.10   10/11/20       CNY      20.36
WUXI XIDONG NEW TOWN CONS     6.65   01/28/20       CNY      20.00
WUXI XIDONG NEW TOWN CONS     6.65   01/28/20       CNY      20.00
WUYANG CONSTRUCTION GROUP     7.80   09/11/20       CNY      32.48
WUZHONG URBAN RURAL CONST     7.18   10/12/20       CNY      20.25
WUZHONG URBAN RURAL CONST     7.18   10/12/20       CNY      20.25
XIAMEN TORCH GROUP CO LTD     7.49   04/21/21       CNY      40.84
XIAMEN TORCH GROUP CO LTD     7.49   04/21/21       CNY      44.88
XIAMEN XINGLIN CONSTRUCTI     6.60   02/22/20       CNY      20.03
XIAMEN XINGLIN CONSTRUCTI     6.60   02/22/20       CNY      21.80
XIAN FENGDONG DEVELOPMENT     4.67   01/08/23       CNY      59.72
XIAN FENGDONG DEVELOPMENT     4.67   01/08/23       CNY      59.76
XI'AN INTERNATIONAL HORTI     6.20   10/21/21       CNY      40.41
XI'AN INTERNATIONAL HORTI     6.20   10/21/21       CNY      41.46
XI'AN INTERNATIONAL INLAN     7.90   09/23/21       CNY      42.28
XIAN QUJIANG DAMING PALAC     6.39   03/21/20       CNY      50.16
XIANGSHUI GUANJIANG HOLDI     4.98   12/24/22       CNY      60.37
XIANGSHUI GUANJIANG HOLDI     4.98   12/24/22       CNY      63.20
XIANGTAN CITY CONSTRUCTIO     7.60   04/02/22       CNY      49.50
XIANGTAN CITY CONSTRUCTIO     7.80   03/12/22       CNY      53.60
XIANGTAN CITY CONSTRUCTIO     7.80   01/30/22       CNY      55.10
XIANGTAN HI-TECH GROUP CO     8.16   02/25/21       CNY      40.40
XIANGTAN HI-TECH GROUP CO     8.16   02/25/21       CNY      48.99
XIANGTAN JIUHUA ECONOMIC      7.15   10/15/20       CNY      19.56
XIANGTAN JIUHUA ECONOMIC      7.15   10/15/20       CNY      19.85
XIANGTAN JIUHUA ECONOMIC      6.59   01/21/22       CNY      38.21
XIANGTAN LIANGXING SOCIET     7.89   04/23/21       CNY      40.68
XIANGTAN WANLOU XINCHENG      6.90   01/14/22       CNY      35.49
XIANGTAN WANLOU XINCHENG      6.90   01/14/22       CNY      39.59
XIANGTAN ZHENXIANG STATE-     6.60   08/07/20       CNY      20.11
XIANGTAN ZHENXIANG STATE-     6.60   08/07/20       CNY      20.18
XIANGYANG HIGH TECH STATE     7.00   05/29/21       CNY      40.86
XIANGYANG HIGH TECH STATE     7.00   05/29/21       CNY      43.38
XIANGYANG STATE-OWNED CAP     4.62   01/25/23       CNY      60.33
XIANNING HIGH-TECH INVEST     5.80   06/05/20       CNY      20.11
XIANNING HIGH-TECH INVEST     5.80   06/05/20       CNY      20.24
XIANNING HIGH-TECH INVEST     6.29   02/10/22       CNY      61.07
XIANNING HIGH-TECH INVEST     6.29   02/10/22       CNY      65.00
XIANTAO CITY CONSTRUCTION     8.15   02/24/21       CNY      41.00
XIANTAO CITY CONSTRUCTION     8.15   02/24/21       CNY      41.80
XIAOGAN GAOCHUANG INVESTM     7.43   06/23/21       CNY      41.16
XIAOGAN GAOCHUANG INVESTM     6.87   09/22/21       CNY      41.28
XIAOGAN GAOCHUANG INVESTM     6.87   09/22/21       CNY      46.69
XIAOGAN GAOCHUANG INVESTM     7.43   06/23/21       CNY      52.72
XIAOGAN URBAN CONSTRUCTIO     6.89   05/29/21       CNY      40.50
XIAOGAN URBAN CONSTRUCTIO     6.89   05/29/21       CNY      41.14
XINGAN LEAGUE URBAN DEVEL     6.18   12/21/22       CNY      43.78
XINGAN LEAGUE URBAN DEVEL     6.18   12/21/22       CNY      43.79
XINGHUA CITY ECONOMIC DEV     5.28   06/13/22       CNY      74.81
XINGHUA URBAN CONSTRUCTIO     7.36   07/15/20       CNY      25.00
XINGHUA URBAN CONSTRUCTIO     7.36   07/15/20       CNY      25.21
XINGYI XINHENG URBAN CONS     5.40   12/16/22       CNY      57.83
XINGYI XINHENG URBAN CONS     5.40   12/16/22       CNY      60.00
XINING ECONOMIC DEVELOPME     5.90   06/04/20       CNY      20.00
XINING ECONOMIC DEVELOPME     5.90   06/04/20       CNY      20.01
XINJIANG KAIDI INVESTMENT     7.80   04/22/21       CNY      40.74
XINJIANG RUNSHENG INVESTM     7.15   07/10/20       CNY      25.19
XINJIANG RUNSHENG INVESTM     7.15   07/10/20       CNY      25.38
XINJIANG WUJIAQU CAIJIAHU     7.50   05/21/21       CNY      40.64
XINJIANG WUJIAQU CAIJIAHU     7.50   05/21/21       CNY      41.00
XINTAI CITY COORDINATING      6.35   03/23/22       CNY      60.75
XINTAI CITY COORDINATING      6.35   03/23/22       CNY      61.33
XINXIANG INVESTMENT GROUP     5.85   04/15/20       CNY      20.07
XINXIANG INVESTMENT GROUP     5.85   04/15/20       CNY      20.12
XINYANG HONGCHANG PIPE GA     6.49   06/20/20       CNY      72.87
XINYANG HUAXIN INVESTMENT     7.55   04/15/21       CNY      40.50
XINYANG HUAXIN INVESTMENT     7.55   04/15/21       CNY      46.30
XINYI CITY INVESTMENT & D     7.39   10/15/20       CNY      20.20
XINYI CITY INVESTMENT & D     7.39   10/15/20       CNY      20.46
XINYI CITY INVESTMENT & D     4.30   01/19/23       CNY      59.76
XINYI CITY INVESTMENT & D     4.30   01/19/23       CNY      60.00
XINYI URBAN TRANSPORTATIO     6.14   02/06/22       CNY      61.27
XINYI URBAN TRANSPORTATIO     6.14   02/06/22       CNY      61.53
XINYU CHENGDONG CONSTRUCT     8.48   05/27/21       CNY      40.91
XINYU CHENGDONG CONSTRUCT     8.48   05/27/21       CNY      47.00
XINYU CITY SHANTYTOWN ZON     6.42   12/09/20       CNY      40.55
XINYU CITY YUSHUI DISTRIC     7.70   06/24/22       CNY      61.47
XINYU CITY YUSHUI DISTRIC     7.70   06/24/22       CNY      63.63
XINZHENG NEW DISTRICT DEV     6.40   01/29/21       CNY      50.54
XINZHOU ASSET MANAGEMENT      8.50   12/18/20       CNY      20.00
XINZHOU ASSET MANAGEMENT      8.50   12/18/20       CNY      20.74
XINZHOU ASSET MANAGEMENT      7.90   02/21/21       CNY      40.90
XINZHOU ASSET MANAGEMENT      7.90   02/21/21       CNY      43.41
XIWANG GROUP CO LTD           7.80   12/03/22       CNY      49.94
XUANCHENG CITY ECONOMY DE     7.95   09/22/21       CNY      41.47
XUANCHENG CITY ECONOMY DE     7.95   09/22/21       CNY      46.00
XUANCHENG STATE-OWNED ASS     7.95   03/27/21       CNY      41.16
XUANCHENG STATE-OWNED ASS     7.95   03/27/21       CNY      46.00
XUZHOU BOCHANT DEVELOPMEN     5.69   07/28/21       CNY      66.24
XUZHOU CITY TONGSHAN DIST     6.60   08/08/20       CNY      20.28
XUZHOU CITY TONGSHAN DIST     6.60   08/08/20       CNY      20.66
XUZHOU CITY TONGSHAN DIST     5.23   09/18/22       CNY      61.22
XUZHOU CITY TONGSHAN DIST     5.23   09/18/22       CNY      67.38
XUZHOU ECONOMIC TECHNOLOG     7.35   04/21/21       CNY      40.90
XUZHOU ECONOMIC TECHNOLOG     7.35   04/21/21       CNY      41.15
XUZHOU HI-TECH INDUSTRIAL     7.86   04/22/21       CNY      41.05
XUZHOU HI-TECH INDUSTRIAL     7.86   04/22/21       CNY      51.50
XUZHOU TRANSPORTATION HOL     7.09   05/15/21       CNY      41.00
XUZHOU TRANSPORTATION HOL     7.09   05/15/21       CNY      41.18
XUZHOU XINSHENG INVESTMEN     5.13   08/12/22       CNY      61.02
XUZHOU XINSHENG INVESTMEN     5.13   08/12/22       CNY      64.46
YA'AN DEVELOPMENT INVESTM     7.00   09/13/20       CNY      20.37
YA'AN DEVELOPMENT INVESTM     7.00   09/13/20       CNY      20.39
YANCHENG CITY DAFENG DIST     8.50   12/30/20       CNY      20.82
YANCHENG CITY DAFENG DIST     8.50   12/30/20       CNY      20.90
YANCHENG CITY DAFENG DIST     8.70   01/24/21       CNY      20.91
YANCHENG CITY DAFENG DIST     8.70   01/24/21       CNY      41.65
YANCHENG CITY TINGHU DIST     7.95   11/15/20       CNY      18.30
YANCHENG CITY TINGHU DIST     7.95   11/15/20       CNY      20.32
YANCHENG HIGH-TECH ZONE I     3.90   12/14/22       CNY      59.30
YANCHENG HIGH-TECH ZONE I     3.90   12/14/22       CNY      60.06
YANCHENG ORIENTAL INVESTM     6.48   09/15/21       CNY      40.30
YANCHENG ORIENTAL INVESTM     6.48   09/15/21       CNY      40.96
YANCHENG SOUTH DISTRICT D     6.70   07/30/21       CNY      40.65
YANCHENG SOUTH DISTRICT D     6.70   07/30/21       CNY      41.16
YANGJIANG HENGCAI CITY IN     6.85   09/09/20       CNY      20.35
YANGJIANG HENGCAI CITY IN     6.85   09/09/20       CNY      20.70
YANGJIANG HENGCAI CITY IN     6.24   04/14/22       CNY      60.00
YANGJIANG HENGCAI CITY IN     6.24   04/14/22       CNY      61.61
YANGZHOU CHEMICAL INDUSTR     8.58   01/24/21       CNY      20.46
YANGZHOU CHEMICAL INDUSTR     8.58   01/24/21       CNY      46.00
YANGZHOU ECONOMIC & TECHN     7.40   03/05/21       CNY      70.00
YANGZHOU ECONOMIC & TECHN     7.40   03/05/21       CNY      71.84
YANGZHOU HANJIANG CONSTRU     6.20   03/12/20       CNY      20.04
YANGZHOU HANJIANG CONSTRU     5.88   06/15/22       CNY      61.73
YANGZHOU HANJIANG CONSTRU     5.88   06/15/22       CNY      66.63
YANGZHOU JIANGDU YANJIANG     7.48   07/29/20       CNY      25.29
YANGZHOU JIANGDU YANJIANG     7.48   07/29/20       CNY      25.32
YICHANG HIGH-TECH INVESTM     4.80   12/15/22       CNY      60.00
YICHANG HIGH-TECH INVESTM     4.80   12/15/22       CNY      61.21
YICHUN URBAN CONSTRUCTION     7.09   05/15/21       CNY      40.93
YICHUN URBAN CONSTRUCTION     7.09   05/15/21       CNY      43.47
YICHUN VENTURE CAPITAL CO     6.70   03/23/22       CNY      60.61
YICHUN VENTURE CAPITAL CO     6.70   03/23/22       CNY      60.91
YIHUA ENTERPRISE GROUP CO     5.99   11/26/20       CNY      30.00
YIHUA ENTERPRISE GROUP CO     6.80   03/15/21       CNY      47.99
YIHUA ENTERPRISE GROUP CO     6.50   05/02/22       CNY      49.58
YIHUA ENTERPRISE GROUP CO     5.80   07/26/20       CNY      53.74
YIHUA ENTERPRISE GROUP CO     7.00   04/29/22       CNY      54.00
YIHUA LIFESTYLE TECHNOLOG     6.88   07/16/20       CNY      48.03
YILI KAZAKH AUTONOMOUS PR     7.68   02/28/21       CNY      40.97
YILI KAZAKH AUTONOMOUS PR     7.68   02/28/21       CNY      41.07
YINCHUAN URBAN CONSTRUCTI     6.88   05/12/21       CNY      40.80
YINCHUAN URBAN CONSTRUCTI     6.88   05/12/21       CNY      40.89
YINGKOU COASTAL DEVELOPME     6.45   01/26/22       CNY      59.38
YINGKOU COASTAL DEVELOPME     6.45   01/26/22       CNY      60.29
YINGKOU LAOBIAN CITY CONS     5.63   12/16/22       CNY      59.88
YINGKOU LAOBIAN CITY CONS     5.63   12/16/22       CNY      60.00
YINGTAN INVESTMENT CO         7.50   12/12/22       CNY      47.46
YINGTAN INVESTMENT CO         7.50   12/12/22       CNY      47.47
YINGTAN INVESTMENT CO         3.63   08/12/21       CNY      69.90
YINGTAN LONGGANG ASSET OP     6.75   07/31/22       CNY      58.91
YINGTAN LONGGANG ASSET OP     6.75   07/31/22       CNY      61.18
YINING CITY STATE OWNED A     8.90   01/23/21       CNY      29.95
YINING CITY STATE OWNED A     8.90   01/23/21       CNY      40.96
YINING CITY STATE OWNED A     5.37   09/24/22       CNY      60.99
YIWU CITY CONSTRUCTION IN     4.31   12/07/22       CNY      60.40
YIWU CITY CONSTRUCTION IN     4.31   12/07/22       CNY      60.46
YIWU URBAN & RURAL NEW CO     4.25   11/24/21       CNY      49.87
YIXING CITY CONSTRUCTION      6.16   03/30/22       CNY      60.00
YIXING CITY CONSTRUCTION      6.16   03/30/22       CNY      61.65
YIXING TUOYE INDUSTRIAL C     7.60   05/28/21       CNY      41.06
YIXING TUOYE INDUSTRIAL C     7.60   05/28/21       CNY      43.50
YIYANG ADVANCED INDUSTRY      7.00   03/30/22       CNY      60.69
YIYANG ADVANCED INDUSTRY      7.00   03/30/22       CNY      68.00
YONG ZHOU CITY CONSTRUCTI     7.30   10/23/20       CNY      20.52
YONGJIA INVESTMENT GROUP      6.50   11/12/21       CNY      40.00
YONGJIA INVESTMENT GROUP      6.50   11/12/21       CNY      40.71
YONGZHOU ECONOMIC CONSTRU     3.55   01/14/23       CNY      58.66
YONGZHOU ECONOMIC CONSTRU     3.55   01/14/23       CNY      59.02
YUEYANG CITY DONGTING NEW     6.15   03/20/22       CNY      60.43
YUEYANG CITY DONGTING NEW     6.15   03/20/22       CNY      60.69
YUEYANG HUILIN INVESTMENT     5.50   11/03/21       CNY      40.00
YUEYANG HUILIN INVESTMENT     5.50   11/03/21       CNY      40.13
YUEYANG URBAN CONSTRUCTIO     6.05   07/12/20       CNY      20.17
YUHUAN CITY COMMUNICATION     5.65   11/03/21       CNY      40.95
YUHUAN CITY COMMUNICATION     5.65   11/03/21       CNY      44.50
YUHUAN CITY COMMUNICATION     6.18   03/20/22       CNY      61.41
YUHUAN CITY COMMUNICATION     6.18   03/20/22       CNY      64.47
YUNNAN METROPOLITAN CONST     6.77   05/23/21       CNY      40.39
YUYAO CITY CONSTRUCTION I     7.09   05/19/21       CNY      41.00
YUYAO CITY CONSTRUCTION I     7.09   05/19/21       CNY      41.25
YUYAO ECONOMIC DEVELOPMEN     6.75   03/04/20       CNY      20.00
YUYAO ECONOMIC DEVELOPMEN     6.75   03/04/20       CNY      20.04
YUZHOU GENERAL INVESTMENT     4.68   01/19/23       CNY      60.00
YUZHOU GENERAL INVESTMENT     4.68   01/19/23       CNY      60.36
ZHANGJIAGANG FREE TRADE Z     7.10   08/23/20       CNY      20.25
ZHANGJIAGANG FREE TRADE Z     7.10   08/23/20       CNY      26.04
ZHANGJIAGANG JINCHENG INV     6.88   04/28/21       CNY      40.80
ZHANGJIAGANG JINCHENG INV     6.88   04/28/21       CNY      40.86
ZHANGJIAJIE ECONOMIC DEVE     7.80   04/17/21       CNY      40.97
ZHANGYE CITY INVESTMENT G     6.92   09/22/21       CNY      40.90
ZHANGYE CITY INVESTMENT G     6.92   09/22/21       CNY      40.91
ZHANGZHOU CITY CONSTRUCTI     6.60   03/26/20       CNY      20.04
ZHANGZHOU ECONOMIC DEVELO     6.17   04/27/22       CNY      60.00
ZHANGZHOU ECONOMIC DEVELO     6.17   04/27/22       CNY      61.63
ZHANGZHOU JIULONGJIANG GR     6.48   06/20/21       CNY      40.90
ZHANGZHOU JIULONGJIANG GR     6.48   06/20/21       CNY      41.13
ZHANJIANG INFRASTRUCTURE      6.93   10/21/20       CNY      20.40
ZHANJIANG INFRASTRUCTURE      6.93   10/21/20       CNY      20.55
ZHAOQING GAOYAO DISTRICT      6.68   04/14/22       CNY      60.00
ZHAOQING GAOYAO DISTRICT      6.68   04/14/22       CNY      61.41
ZHEJIANG BINHAI NEW CITY      4.65   12/23/22       CNY      60.00
ZHEJIANG BINHAI NEW CITY      4.65   12/23/22       CNY      61.02
ZHEJIANG CHANGXING VIA OP     7.99   03/03/21       CNY      40.66
ZHEJIANG CHANGXING VIA OP     7.99   03/03/21       CNY      50.00
ZHEJIANG GUOXING INVESTME     6.94   08/01/21       CNY      41.20
ZHEJIANG GUOXING INVESTME     6.94   08/01/21       CNY      48.50
ZHEJIANG OUHAI CONSTRUCTI     4.83   01/21/23       CNY      60.00
ZHEJIANG OUHAI CONSTRUCTI     6.45   04/23/22       CNY      60.00
ZHEJIANG OUHAI CONSTRUCTI     4.83   01/21/23       CNY      60.31
ZHEJIANG OUHAI CONSTRUCTI     6.45   04/23/22       CNY      61.22
ZHEJIANG PROVINCE DEQING      6.40   02/22/20       CNY      20.02
ZHEJIANG PROVINCE DEQING      6.40   02/22/20       CNY      20.23
ZHEJIANG PROVINCE XINCHAN     6.60   04/24/20       CNY      20.09
ZHEJIANG PROVINCE XINCHAN     6.60   04/24/20       CNY      22.90
ZHEJIANG PROVINCE XINCHAN     5.88   10/30/21       CNY      41.06
ZHEJIANG PROVINCE XINCHAN     5.88   10/30/21       CNY      41.16
ZHEJIANG PROVINCE XINCHAN     6.95   12/31/21       CNY      41.68
ZHEJIANG PROVINCE XINCHAN     6.95   12/31/21       CNY      41.87
ZHENGZHOU JINGKAI INVESTM     5.48   07/31/22       CNY      60.00
ZHENGZHOU JINGKAI INVESTM     5.48   07/31/22       CNY      61.54
ZHENGZHOU MOUZHONG DEVELO     7.48   12/11/21       CNY      41.60
ZHENGZHOU MOUZHONG DEVELO     7.48   12/11/21       CNY      46.20
ZHENGZHOU PUBLIC HOUSING      5.98   07/17/20       CNY      20.13
ZHENGZHOU PUBLIC HOUSING      5.98   07/17/20       CNY      20.23
ZHENJIANG CITY CONSTRUCTI     7.90   12/18/20       CNY      20.61
ZHENJIANG CITY CONSTRUCTI     8.20   01/13/21       CNY      20.76
ZHENJIANG CITY CONSTRUCTI     8.20   01/13/21       CNY      28.49
ZHENJIANG CITY CONSTRUCTI     7.90   12/18/20       CNY      28.50
ZHENJIANG CULTURAL TOURIS     6.60   01/30/20       CNY      20.00
ZHENJIANG CULTURAL TOURIS     6.60   01/30/20       CNY      20.00
ZHENJIANG DANTU DISTRICT      5.89   11/03/21       CNY      39.60
ZHENJIANG DANTU DISTRICT      5.89   11/03/21       CNY      40.19
ZHENJIANG NEW AREA URBAN      8.99   01/16/21       CNY      20.67
ZHENJIANG NEW AREA URBAN      8.35   02/26/21       CNY      40.64
ZHIJIANG STATE-OWNED ASSE     4.78   01/11/23       CNY      60.00
ZHIJIANG STATE-OWNED ASSE     4.78   01/11/23       CNY      60.37
ZHONGGUANCUN DEVELOPMENT      4.20   08/12/22       CNY      60.40
ZHONGGUANCUN DEVELOPMENT      4.20   08/12/22       CNY      60.65
ZHONGMINTOU LEASING HOLDI     7.55   09/21/21       CNY      49.49
ZHONGRONG XINDA GROUP CO      7.10   01/22/21       CNY      33.70
ZHONGSHAN TRANSPORTATION      5.25   11/26/21       CNY      40.00
ZHONGSHAN TRANSPORTATION      5.25   11/26/21       CNY      40.36
ZHONGTIAN FINANCIAL GROUP     7.00   10/15/20       CNY      49.43
ZHOUKOU INVESTMENT GROUP      7.49   04/21/21       CNY      40.56
ZHOUSHAN DINGHAI STATE-OW     7.25   08/31/20       CNY      25.40
ZHOUSHAN DINGHAI STATE-OW     7.25   08/31/20       CNY      26.65
ZHOUSHAN DINGHAI STATE-OW     7.13   08/04/21       CNY      41.29
ZHOUSHAN DINGHAI STATE-OW     7.13   08/04/21       CNY      41.40
ZHOUSHAN ISLANDS NEW DIST     6.98   10/22/22       CNY      57.63
ZHOUSHAN ISLANDS NEW DIST     6.98   10/22/22       CNY      58.44
ZHOUSHAN PUTUO DISTRICT S     7.18   06/20/22       CNY      57.27
ZHUHAI HUIHUA INFRASTRUCT     7.15   09/17/20       CNY      20.34
ZHUHAI HUIHUA INFRASTRUCT     7.15   09/17/20       CNY      21.15
ZHUJI CITY YUEDU INVESTME     8.20   12/12/20       CNY      20.77
ZHUJI CITY YUEDU INVESTME     8.20   12/12/20       CNY      24.50
ZHUJI CITY YUEDU INVESTME     6.38   04/07/22       CNY      61.50
ZHUJI CITY YUEDU INVESTME     6.38   04/07/22       CNY      61.67
ZHUZHOU CITY CONSTRUCTION     6.95   10/16/20       CNY      20.52
ZHUZHOU CITY CONSTRUCTION     6.95   10/16/20       CNY      20.55
ZHUZHOU CITY CONSTRUCTION     8.36   11/10/21       CNY      43.75
ZHUZHOU GECKOR GROUP CO L     6.95   08/11/21       CNY      40.86
ZHUZHOU GECKOR GROUP CO L     6.95   08/11/21       CNY      40.92
ZHUZHOU GECKOR GROUP CO L     6.38   04/17/22       CNY      60.00
ZHUZHOU GECKOR GROUP CO L     6.38   04/17/22       CNY      61.08
ZHUZHOU REAL ESTATE GROUP     6.25   03/25/22       CNY      61.36
ZHUZHOU REAL ESTATE GROUP     6.25   03/25/22       CNY      68.53
ZHUZHOU XIANGJIANG SCENIC     5.39   11/25/22       CNY      60.57
ZHUZHOU XIANGJIANG SCENIC     5.39   11/25/22       CNY      60.61
ZIBO BANYANG CITY URBAN A     5.50   09/09/22       CNY      60.00
ZIBO BANYANG CITY URBAN A     5.50   09/09/22       CNY      60.33
ZIYANG WATER INVESTMENT C     7.40   10/21/20       CNY      20.52
ZIYANG WATER INVESTMENT C     7.40   10/21/20       CNY      20.60
ZIZHONG COUNTY XINGZI INV     5.97   01/18/23       CNY      59.68
ZIZHONG COUNTY XINGZI INV     5.97   01/18/23       CNY      78.26
ZJ HZ QINGSHAN LAKE SCIEN     7.90   04/23/21       CNY      41.20
ZJ HZ QINGSHAN LAKE SCIEN     7.90   04/23/21       CNY      44.00
ZUNYI ECONOMIC DEVELOPMEN     4.87   01/22/23       CNY      59.11
ZUNYI ECONOMIC DEVELOPMEN     4.87   01/22/23       CNY      60.00
ZUNYI ROAD & BRIDGE CONST     6.10   04/27/23       CNY      63.20
ZUNYI ROAD & BRIDGE CONST     6.10   04/27/23       CNY      72.96


  HONG KONG
  ---------

DR PENG HOLDING HONGKONG      5.05   06/01/20       USD      63.01
HNA GROUP INTERNATIONAL C     6.25   10/05/21       USD      65.00


  INDONESIA
  ---------

BERAU COAL ENERGY TBK PT      7.25   03/13/17       USD      42.79
BERAU COAL ENERGY TBK PT      7.25   03/13/17       USD      42.79
DAVOMAS INTERNATIONAL FIN    11.00   12/08/14       USD       0.10
DAVOMAS INTERNATIONAL FIN    11.00   05/09/11       USD       0.10
DAVOMAS INTERNATIONAL FIN    11.00   12/08/14       USD       0.10
DAVOMAS INTERNATIONAL FIN    11.00   05/09/11       USD       0.10
DELTA MERLIN DUNIA TEKSTI     8.63   03/12/24       USD       9.21
DELTA MERLIN DUNIA TEKSTI     8.63   03/12/24       USD      12.92


  INDIA
  -----

3I INFOTECH LTD               2.50   03/31/25       USD       7.77
ACME FAZILKA POWER PVT LT     0.01   09/07/46       INR      11.18
AMPSOLAR SOLUTION PVT LTD     0.01   11/03/37       INR      22.63
AMPSOLAR SOLUTION PVT LTD     0.01   10/27/37       INR      22.67
APG HABITAT PVT LTD           1.00   09/09/28       INR      54.20
APG INTELLI HOMES PVT LTD     1.25   02/04/35       INR      31.58
APG INTELLI HOMES PVT LTD     1.25   02/04/35       INR      39.85
AUTOMOTIVE EXCHANGE PVT L     4.00   10/11/30       INR      59.07
AUTOMOTIVE EXCHANGE PVT L     4.00   06/01/30       INR      59.11
BENGAL AEROTROPOLIS PROJE     5.00   12/01/30       INR      67.56
BENGAL AEROTROPOLIS PROJE     5.00   12/01/29       INR      69.37
BENGAL AEROTROPOLIS PROJE     5.00   12/01/28       INR      71.40
BENGAL AEROTROPOLIS PROJE     5.00   12/01/27       INR      73.70
BOTHE WINDFARM DEVELOPMEN    10.00   11/28/32       INR      67.98
BRITANNIA INDUSTRIES LTD      8.00   08/28/22       INR      29.98
CREIXENT SPECIAL STEELS L     0.01   08/28/25       INR      59.78
CUMULUS TRADING CO PVT LT     0.01   05/21/32       INR      33.89
CUMULUS TRADING CO PVT LT     0.01   12/29/29       INR      41.34
CUMULUS TRADING CO PVT LT     0.01   01/23/30       INR      55.93
DAYAKARA SOLAR POWER PVT      0.10   04/05/26       INR      58.37
DEWAN HOUSING FINANCE COR     8.50   04/18/23       INR      19.02
DLF CYBER CITY DEVELOPERS     0.01   11/19/24       INR      69.22
EDELWEISS ASSET RECONSTRU     2.00   07/22/29       INR      51.50
EDELWEISS ASSET RECONSTRU     2.00   01/15/29       INR      53.19
EDELWEISS ASSET RECONSTRU     2.00   10/07/28       INR      54.15
EDELWEISS ASSET RECONSTRU     2.00   11/20/27       INR      57.39
EDELWEISS ASSET RECONSTRU     2.00   03/28/27       INR      59.58
GREEN URJA PVT LTD            0.01   02/14/30       INR      42.64
GTL INFRASTRUCTURE LTD        6.73   10/26/22       USD       4.00
HINDUSTAN CONSTRUCTION CO     0.01   01/05/27       INR      52.17
HITODI INFRASTRUCTURE LTD     0.01   06/30/27       INR      48.64
JAIPRAKASH ASSOCIATES LTD     5.75   09/08/17       USD      55.13
JAIPRAKASH POWER VENTURES     7.00   05/15/17       USD       2.18
JCT LTD                       2.50   04/08/11       USD      25.75
JSM CORP PVT LTD              0.01   08/31/36       INR      24.46
JTPM ATSALI LTD               0.01   08/29/48       INR       9.97
KANAKADURGA FINANCE LTD       0.01   04/15/36       INR      23.13
KVK ENERGY & INFRASTRUCTU     0.01   01/25/24       INR      70.50
MARIS POWER SUPPLY CO PVT     2.00   04/18/28       INR      61.67
MYTRAH AADHYA POWER PVT L     0.01   07/05/35       INR      27.51
MYTRAH ADVAITH POWER PVT      0.01   07/13/36       INR      25.12
MYTRAH AKSHAYA ENERGY PVT     0.01   07/13/36       INR      25.12
ORIGAMI CELLULO PVT LTD       0.01   11/14/36       INR      24.22
PRAKASH INDUSTRIES LTD        5.25   04/30/15       USD      22.63
PUNJAB INFRASTRUCTURE DEV     0.40   10/15/33       INR      40.08
PUNJAB INFRASTRUCTURE DEV     0.40   10/15/32       INR      42.76
PUNJAB INFRASTRUCTURE DEV     0.40   10/15/31       INR      45.72
PUNJAB INFRASTRUCTURE DEV     0.40   10/15/30       INR      48.92
PUNJAB INFRASTRUCTURE DEV     0.40   10/15/29       INR      52.39
PUNJAB INFRASTRUCTURE DEV     0.40   10/15/28       INR      56.12
PUNJAB INFRASTRUCTURE DEV     0.40   10/15/27       INR      60.16
PUNJAB INFRASTRUCTURE DEV     0.40   10/15/26       INR      64.53
PUNJAB INFRASTRUCTURE DEV     0.40   10/15/25       INR      69.24
PUNJAB INFRASTRUCTURE DEV     0.40   10/15/24       INR      74.27
PYRAMID SAIMIRA THEATRE L     1.75   07/04/12       USD       0.26
R L FINE CHEM PVT LTD         0.10   08/19/36       INR      24.88
REDKITE CAPITAL PVT LTD       2.50   03/30/29       INR      61.39
REDKITE CAPITAL PVT LTD       2.50   01/15/28       INR      64.96
REI AGRO LTD                  5.50   11/13/14       USD       0.34
REI AGRO LTD                  5.50   11/13/14       USD       0.34
RELIANCE COMMUNICATIONS L     6.50   11/06/20       USD      11.68
SURBHI INVESTMENTS & TRAD     2.50   10/21/28       INR      62.50
SUZLON ENERGY LTD             5.75   07/16/19       USD      30.00
SUZLON ENERGY LTD             5.75   07/16/19       USD      30.00
SVOGL OIL GAS & ENERGY LT     5.00   08/17/15       USD       0.61
TN URJA PVT LTD               0.10   02/22/36       INR      27.35
VIDEOCON INDUSTRIES LTD       2.80   12/31/20       USD      30.22
WATSUN INFRABUILD PVT LTD     4.00   10/16/37       INR      53.85
WS T&D LTD                    0.10   03/24/29       INR      46.31


  JAPAN
  -----

AVANSTRATE INC                0.10   10/29/32       JPY       9.75
TKJP CORP                     1.02   12/15/17       JPY       0.50
TKJP CORP                     0.58   03/26/21       JPY       2.02
TKJP CORP                     0.85   03/06/19       JPY       2.02


  KOREA
  -----

HEUNGKUK FIRE & MARINE IN     5.70   12/29/46       KRW      47.58
INDUSTRIAL BANK OF KOREA      3.84   03/10/45       KRW      37.37
KIBO ABS SPECIALTY CO LTD     5.00   02/26/21       KRW      63.69
KIBO ABS SPECIALTY CO LTD     5.00   02/28/22       KRW      69.51
KIBO ABS SPECIALTY CO LTD     5.00   02/24/22       KRW      70.33
KIBO ABS SPECIALTY CO LTD     5.00   08/28/21       KRW      71.12
KIBO ABS SPECIALTY CO LTD     5.00   09/11/20       KRW      73.43
LOTTE CARD CO LTD             3.95   06/28/49       KRW      63.57
POSCO ENERGY CO LTD           5.21   08/29/43       KRW      66.93
SAMPYO CEMENT CO LTD          8.10   04/12/15       KRW      70.00
SAMPYO CEMENT CO LTD          8.30   04/20/14       KRW      70.00
SAMPYO CEMENT CO LTD          8.30   09/10/14       KRW      70.00
SAMPYO CEMENT CO LTD          7.50   07/20/14       KRW      70.00
SAMPYO CEMENT CO LTD          8.10   06/26/15       KRW      70.00
SILLAJEN INC                  1.00   03/21/24       KRW      47.47
SINBO SECURITIZATION SPEC     5.00   12/21/20       KRW      61.97
SINBO SECURITIZATION SPEC     5.00   03/21/21       KRW      64.13
SINBO SECURITIZATION SPEC     5.00   07/26/21       KRW      65.41
SINBO SECURITIZATION SPEC     5.00   01/26/22       KRW      65.71
SINBO SECURITIZATION SPEC     5.00   01/25/22       KRW      65.72
SINBO SECURITIZATION SPEC     5.00   08/31/21       KRW      66.27
SINBO SECURITIZATION SPEC     5.00   02/23/22       KRW      66.98
SINBO SECURITIZATION SPEC     5.00   07/26/22       KRW      67.48
SINBO SECURITIZATION SPEC     5.00   01/25/23       KRW      67.94
SINBO SECURITIZATION SPEC     5.00   08/31/22       KRW      68.37
SINBO SECURITIZATION SPEC     5.00   02/28/22       KRW      69.50
SINBO SECURITIZATION SPEC     5.00   03/20/23       KRW      69.74
SINBO SECURITIZATION SPEC     5.00   02/28/23       KRW      69.87
SINBO SECURITIZATION SPEC     5.00   12/27/21       KRW      70.19
SINBO SECURITIZATION SPEC     5.00   06/29/21       KRW      71.34
SINBO SECURITIZATION SPEC     5.00   06/29/22       KRW      71.70
SINBO SECURITIZATION SPEC     5.00   09/28/22       KRW      71.78
SINBO SECURITIZATION SPEC     5.00   09/27/21       KRW      73.84
SINBO SECURITIZATION SPEC     5.00   06/23/20       KRW      73.97
SINBO SECURITIZATION SPEC     5.00   08/25/21       KRW      74.10
SINBO SECURITIZATION SPEC     5.00   07/27/21       KRW      74.32
SINBO SECURITIZATION SPEC     5.00   03/15/20       KRW      74.55


  MALAYSIA
  --------

AEON CREDIT SERVICE M BHD     3.50   09/15/20       MYR       1.15
ASIAN PAC HOLDINGS BHD        3.00   05/25/22       MYR       0.66
BERJAYA CORP BHD              2.00   05/29/26       MYR       0.13
BERJAYA CORP BHD              5.00   04/22/22       MYR       0.30
ELK-DESA RESOURCES BHD        3.25   04/14/22       MYR       1.34
HIAP TECK VENTURE BHD         5.00   06/23/21       MYR       0.22
HUME INDUSTRIES BHD           5.00   05/29/24       MYR       1.85
MALAYAN FLOUR MILLS BHD       5.00   01/24/24       MYR       1.22
PMB TECHNOLOGY BHD            3.00   07/12/23       MYR       3.03
REDTONE INTERNATIONAL BHD     2.75   03/04/20       MYR       0.18
SENAI-DESARU EXPRESSWAY B     1.35   06/30/31       MYR      68.85
SENAI-DESARU EXPRESSWAY B     1.35   12/31/30       MYR      69.98
SENAI-DESARU EXPRESSWAY B     1.35   06/28/30       MYR      71.14
SENAI-DESARU EXPRESSWAY B     1.35   12/31/29       MYR      72.31
SENAI-DESARU EXPRESSWAY B     1.35   12/29/28       MYR      74.90
VIZIONE HOLDINGS BHD          3.00   08/08/21       MYR       0.07


  NEW ZEALAND
  -----------

PRECINCT PROPERTIES NEW Z     4.80   09/27/21       NZD       1.27


  PHILIPPINES
  -----------

BAYAN TELECOMMUNICATIONS     15.00   07/15/06       USD      22.75


  SINGAPORE
  ---------

ASL MARINE HOLDINGS LTD       3.00   10/01/26       SGD      51.38
ASL MARINE HOLDINGS LTD       3.00   03/28/25       SGD      51.38
BAKRIE TELECOM PTE LTD       11.50   05/07/15       USD       0.56
BAKRIE TELECOM PTE LTD       11.50   05/07/15       USD       0.56
BERAU CAPITAL RESOURCES P    12.50   07/08/15       USD      43.20
BERAU CAPITAL RESOURCES P    12.50   07/08/15       USD      43.20
BLD INVESTMENTS PTE LTD       8.63   03/23/15       USD       4.88
BLUE OCEAN RESOURCES PTE      8.00   12/31/21       USD      31.64
BLUE OCEAN RESOURCES PTE      8.00   12/31/21       USD      31.64
BLUE OCEAN RESOURCES PTE      8.00   12/31/21       USD      31.64
ENERCOAL RESOURCES PTE LT     9.25   08/05/14       USD      45.29
ETERNA CAPITAL PTE LTD        8.00   12/11/22       USD      56.83
EZION HOLDINGS LTD            0.25   11/20/27       SGD      74.09
EZRA HOLDINGS LTD             4.88   04/24/18       SGD       5.00
GEO COAL INTERNATIONAL PT     8.00   10/04/22       USD      63.30
GEO COAL INTERNATIONAL PT     8.00   10/04/22       USD      63.95
HYFLUX LTD                    4.25   09/07/18       SGD      38.63
HYFLUX LTD                    4.20   08/29/19       SGD      38.63
HYFLUX LTD                    4.60   09/23/19       SGD      38.63
INDO INFRASTRUCTURE GROUP     2.00   07/30/10       USD       1.00
INNOVATE CAPITAL PTE LTD      6.00   12/11/24       USD      35.38
ITNL OFFSHORE PTE LTD         7.50   01/18/21       CNY      29.50
MICLYN EXPRESS OFFSHORE P     8.75   11/25/18       USD      22.75
NT RIG HOLDCO PTE LTD         7.50   12/20/21       USD      59.90
ORO NEGRO DRILLING PTE LT     7.50   01/24/19       USD       1.33
PACIFIC RADIANCE LTD          4.30   03/31/20       SGD      10.00
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


  THAILAND
  --------

G STEEL PCL                   3.00   10/04/15       USD       0.55
MDX PCL                       4.75   09/17/03       USD      22.88


  VIETNAM
  -------

VIETNAM GOVERNMENT BOND       3.80   01/16/50       VND      74.66


                           *********


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 2020.  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.



                *** End of Transmission ***