/raid1/www/Hosts/bankrupt/TCRAP_Public/200310.mbx        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, March 10, 2020, Vol. 23, No. 50

                           Headlines



A U S T R A L I A

ALITA RESOURCES: Probed for Potential Listing Rule Breaches
CAS MINE: First Creditors' Meeting Set for March 17
CMC MANAGEMENT: First Creditors' Meeting Set for March 16
FIOSON PTY: First Creditors' Meeting Set for March 13
PLAYSPORT HOLDINGS: First Creditors' Meeting Set for March 17

SARGON CAPITAL: First Creditors' Meeting Set for March 18
SASSAFRAS TAVERN: First Creditors' Meeting Set for March 17
SHIELD MERCANTILE: First Creditors' Meeting Set for March 13
TRIMANTIUM INVESTMENT: First Creditors' Meeting Set for March 18


C H I N A

MACROLINK HOLDING: Defaults on CNY1BB Five-Year Bonds
ZENSUN GROUP: Moody's Rates New USD Notes B2, Outlook Neg.


I N D I A

ACQUA PEARL: CRISIL Migrates B+ Rating to Not Cooperating
AKAR AUTO: Ind-Ra Affirms 'BB+' Long Term Issuer Rating
AKSHAJ ISPAT: CRISIL Migrates B+ Rating to Not Cooperating
AMAR RICE: CRISIL Migrates B+ Rating to Not Cooperating Category
ARIHANT ELASTOPLAST: CRISIL Migrates B+ Rating to Not Cooperating

ARJUN EDUCATIONAL: CRISIL Withdraws D Rating on INR10cr Loans
ARYAN SILK: CRISIL Migrates D Rating to Not Cooperating Category
ASHA RAM: CRISIL Migrates 'D' Rating to Not Cooperating
ATEK INFOVISION: Insolvency Resolution Process Case Summary
AVC MOTORS: CRISIL Migrates 'B' Rating to Not Cooperating

BABA SANTINATH: CRISIL Migrates B+ Rating to Not Cooperating
CHAMPION GROUP: CRISIL Migrates 'B' Rating to Not Cooperating
CLASSIC AGENCIES: CRISIL Moves B+ Rating to Not Cooperating
CORPORATE FASHION: CRISIL Migrates D Rating to Not Cooperating
DERBY PLANTATIONS: CRISIL Hikes Rating on INR5.2cr Loan to B-

DHAVALPRATAPSINH MOHITEPATIL: Insolvency Resolution Case Summary
GOOD MEDIA: CRISIL Migrates 'B' Rating to Not Cooperating
GOVIND STONE: CRISIL Assigns B Rating to INR10cr Loans
HIKE LEATHER: Insolvency Resolution Process Case Summary
HITECH MARKETING: CRISIL Cuts Rating on INR7cr Cash Loan to 'B'

IMPEX INDIA: CRISIL Migrates D Rating to Not Cooperating Category
INTER LABS: Insolvency Resolution Process Case Summary
JAYAKUMARAN EXPORTS: Ind-Ra Withdraws BB-, NonCooperating Rating
JORABAT SHILLONG: Ind-Ra Affirms 'D' Non-Convertible Debt Rating
JOYGOPAL FOOD: CRISIL Migrates B+ Rating to Not Cooperating

KALKA HOME: Insolvency Resolution Process Case Summary
KARTIKEYA PAPER: CRISIL Migrates 'B' Rating to Not Cooperating
KEMAC CHEM: Insolvency Resolution Process Case Summary
KNND ASSOCIATES: Ind-Ra Lowers Long Term Issuer Rating to 'BB+'
KPK OILS: CRISIL Migrates 'B' Rating to Not Cooperating

LINK ENTERPRISES: CRISIL Migrates 'D' Rating to Not Cooperating
MADHOOR BUILDWELL: CRISIL Migrates 'D' Rating to Not Cooperating
MAITHAN ISPAT: Insolvency Resolution Process Case Summary
MANCHUKONDA AGROTECH: Ind-Ra Affirms BB+ LT Rating, Outlook Stable
MANIYAR REFINARY: Ind-Ra Migrates BB LT Rating to Non-Cooperating

MICRO POWER: Insolvency Resolution Process Case Summary
MINARCH OVERSEAS: Insolvency Resolution Process Case Summary
NEKKA OIL: Insolvency Resolution Process Case Summary
PREMIER FUTSAL: Insolvency Resolution Process Case Summary
PROGRESSIVE ENDEAVOURS: Insolvency Resolution Process Case Summary

PURVI METALS: Insolvency Resolution Process Case Summary
RADHA KRISHNA: Ind-Ra Lowers Issuer Rating to BB-, Outlook Stable
RAIGARH PROPERTIES: Insolvency Resolution Process Case Summary
RATNAGIRI CHEMICALS: Insolvency Resolution Process Case Summary
RELIANCE COMMUNICATIONS: IRP Files Resolution Plan with NCLT

SAMAK LANDSCAPE: Insolvency Resolution Process Case Summary
SARA SPINTEX: Ind-Ra Migrates D Issuer Rating to Non-Cooperating
SHREE TRIBHUVAN: Ind-Ra Migrates BB- LT Rating to Non-Cooperating
SOLVEN POWER: Insolvency Resolution Process Case Summary
TUTICORIN COAL: Insolvency Resolution Process Case Summary

WEST GUJARAT: Ind-Ra Affirms 'D' Non-Convertible Debentures Rating
YES BANK: Moody's Cuts Issuer Rating to Caa3, Still Under Review


I N D O N E S I A

GARUDA INDONESIA: Virus Adds to Big Debt Payment Woes


N E W   Z E A L A N D

DOWSONS SHOES: To Shut Stores After 82 Years
MTF RAMBLER 2019: Fitch Affirms BB+sf Rating on Class E Debt
ROSS ASSET: Investors Lay Out Claim against ANZ Bank


P H I L I P P I N E S

RURAL BANK OF TIBIAO: Central Bank Orders Closure


S I N G A P O R E

CH OFFSHORE: Files Notice of 3 Years of Consecutive Losses


S O U T H   K O R E A

S. KOREA: Japan's Entry Restrictions Deal Bigger Blow to Airlines


X X X X X X X X

[*] BOND PRICING: For the Week March 2, 2020 to March 6, 2020

                           - - - - -


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

ALITA RESOURCES: Probed for Potential Listing Rule Breaches
-----------------------------------------------------------
The Straits Times reports that Alita Resources, formerly Alliance
Mineral Assets, is being investigated for potential listing rule
breaches following complaints made to the market regulator.

The Australian Securities and Investments Commission also received
complaints from Alita shareholders, the report says.

According to the report, the lithium miner's deed administrators
said in an exchange filing on March 4 that they have responded to
these matters.

They also said China Hydrogen Energy's sole director is American
citizen Mike Que, while its sole investor is Buxton Fitzmaurice
Christian of Antigua and Barbuda, the report relates.

This was in response to a request for background information from
Singapore Exchange Regulation.

The Straits Times notes that China Hydrogen Energy had put forward
a deed of company arrangement to acquire Alita's assets in
January.

This was amid Alita's bid to restructure in Australia after
accepting a AUD70 million (SGD64 million) loan from China Hydrogen
Energy.

Little was known about China Hydrogen Energy at the time, except
that it is a special-purpose vehicle for a Chinese party, the
report says.

On Feb. 20, Alita said it had received the green light for its
proposed delisting, but the date and timing have yet to be
announced.

It was also reported in January that Alita shareholders will see
their investments go to zero, with about 100 of them said to be
fighting the takeover of their shares by the Chinese entity,
according to the report.

A key question was whether Alita's board may have breached
continuous-disclosure requirements in the months before the firm
ran out of cash, the report states.

Catalist-listed Alita's shares have been suspended since last
August, after a collapse in prices for the battery commodity forced
the firm to default on a AUD40 million loan from secured lenders,
the report notes.

                        About Alita Resources

Alita Resources Limited operates as a mineral exploration and
excavation company. The Company explores and produces lithium and
tantalum concentrates. Alita Resources offers its services in
Australia.

John Bumbak of Kordamentha was appointed as administrator of Alita
Resources, et al. on Aug. 28, 2019.

In December 2019, the company's creditors approved a deed of
company arrangement (DOCA) proposed by China Hydrogen Energy and
its subsidiary Liatam Mining for the acquisition of Alita's
assets.

CAS MINE: First Creditors' Meeting Set for March 17
---------------------------------------------------
A first meeting of the creditors in the proceedings of CAS Mine
Services Pty Ltd will be held on March 17, 2020, at 11:00 a.m. at
One Wharf Lane, Level 20, at 171 Sussex Street, in Sydney, NSW.

Alan Walker and Andre Lakomy of Cor Cordis were appointed as
administrators of CAS Mine on March 5, 2020.

CMC MANAGEMENT: First Creditors' Meeting Set for March 16
---------------------------------------------------------
A first meeting of the creditors in the proceedings of CMC
Management Pty Ltd will be held on March 16, 2020, at 11:00 a.m. at
the offices of Cor Cordis, Level 29, at 360 Collins Street, in
Melbourne, Victoria.

Barry Wight and Sam Kaso of Cor Cordis were appointed as
administrators of CMC Management on March 3, 2020.


FIOSON PTY: First Creditors' Meeting Set for March 13
-----------------------------------------------------
A first meeting of the creditors in the proceedings of Fioson Pty
Ltd will be held on March 13, 2020, at 10:00 a.m. at Level 17, 383
Kent Street, in Sydney, NSW.

Philip Campbell-Wilson and Said Jahani of Grant Thornton Australia
were appointed as administrators of Fioson Pty on March 3, 2020.

PLAYSPORT HOLDINGS: First Creditors' Meeting Set for March 17
-------------------------------------------------------------
A first meeting of the creditors in the proceedings of Playsport
Holdings Pty Ltd and Playsport Group Australia Pty Ltd will be held
on March 17, 2020, at 11:00 a.m. at the offices of Jones Partners,
Level 13, at 189 Kent Street, in Sydney, NSW.

Michael Gregory Jones of Jones Partners was appointed as
administrator of Playsport Holdings on March 5, 2020.


SARGON CAPITAL: First Creditors' Meeting Set for March 18
---------------------------------------------------------
A first meeting of the creditors in the proceedings of Sargon
Capital Pty Ltd will be held on March 18, 2020, at 10:00 a.m. at
the offices of Wexted Advisors, Level 12, at 28 O'Connell Street,
in Sydney, NSW.

Joseph Hayes and Andrew McCabe of Wexted Advisors were appointed as
administrators of Sargon Capital on March 6, 2020.



SASSAFRAS TAVERN: First Creditors' Meeting Set for March 17
-----------------------------------------------------------
A first meeting of the creditors in the proceedings of Sassafras
Tavern Pty Ltd, trading as Sassafras Tavern, will be held on March
17, 2020, at 3:00 p.m. at 51 Robinson Street, in Dandenong,
Victoria.

Peter Robert Vince -- pvince@vinceassociates.com.au -- and Paul
William Langdon --plangdon@vinceassociates.com.au -- of Vince &
Associates were appointed as administrators of Sassafras Tavern on
March 4, 2020.

SHIELD MERCANTILE: First Creditors' Meeting Set for March 13
------------------------------------------------------------
A first meeting of the creditors in the proceedings of Shield
Mercantile Pty Ltd will be held on March 13, 2020, at 10:00 a.m. at
the offices of Worrells Solvency & Forensic Accountants, Suite
601B, Level 6, at 91 Phillip Street, in Parramatta, NSW.

Graeme Beattie and Simon Cathro of Worrells Solvency & Forensic
Accountants were appointed as administrators of Shield Mercantile
on March 3, 2020.


TRIMANTIUM INVESTMENT: First Creditors' Meeting Set for March 18
----------------------------------------------------------------
A first meeting of the creditors in the proceedings of Trimantium
Investment Management Pty Ltd and Trimantium Capital Funds
Management Pty. Ltd.  will be held on March 18, 2020, at 9:30 a.m.
at the offices of Wexted Advisors, Level 12, at 28 O'Connell
Street, in Sydney, NSW.

Joseph Hayes and Andrew McCabe of Wexted Advisors were appointed as
administrators of Trimantium Investment on March 6, 2020.




=========
C H I N A
=========

MACROLINK HOLDING: Defaults on CNY1BB Five-Year Bonds
-----------------------------------------------------
Reuters reports that Macrolink Holding Co on March 6 became China's
first developer to default on its bonds due to the coronavirus
outbreak as the industry struggles with stagnant property sales.

Privately owned Macrolink, which has a range of businesses
including property development and tourism, failed to pay investors
principle and interest on CNY1 billion ($144 million) worth of
five-year bonds due March 6, the Shanghai Clearing House said in a
statement on its website, Reuters relays.

According to Reuters, Macrolink's Shenzhen-listed subsidiary said
in an exchange filing on March 6 that its parent's business "has
been hit hard by the coronavirus epidemic."

The outbreak has frozen home sales, choked retail sales and caused
the shutdown of industrial activities in China, the report notes.

Reuters says the first default in the industry comes as bigger
developers are rushing to sell bonds to refinance their debts,
taking advantage of lower yields as Beijing pumps liquidity and
cuts interest rates to aid a struggling economy.

Reuters relates that China has urged banks not to cut or call back
loans for virus-hit companies, and has encouraged lending toward
smaller companies. Regulators have given fast-track approval for
"virus bonds" to support companies whose finances have been hurt by
the virus.

Macrolink has, however, had funding difficulties as Beijing
launched a deleveraging campaign a few years ago to reduce debt in
the economy, with the pain most felt by private-run companies, its
subsidiary, Macrolink Culturaltainment Development Co, said,
Reuters relays.

As a result, Macrolink's liquidity condition is "extremely tight".
The company is actively negotiating with bond investors, and is
seeking various ways to raise money to ease the liquidity shortage,
according to the filing cited by Reuters.

Macrolink faces repayment obligations for CNY3 billion worth of
bonds that would mature, or be sold back to the issuer over the
next three months, rating agency Golden Credit Rating said in
mid-January, Reuters adds.

China-based Macrolink Holding Co., Ltd. operates as an investment
company. The Company provides asset management, investment
consulting, and other services. Macrolink Holding also operates
lodging, real estate development, food sales, and other businesses.

ZENSUN GROUP: Moody's Rates New USD Notes B2, Outlook Neg.
----------------------------------------------------------
Moody's Investors Service assigned a B2 backed senior unsecured
debt rating to the proposed USD notes to be issued by Zensun
Enterprises Limited. The notes will be irrevocably and
unconditionally guaranteed by Zensun Group Limited (Zensun, B1
negative).

The outlook is negative.

Zensun will use the bond proceeds primarily to refinance existing
debt, for project development and for general corporate purposes.

RATINGS RATIONALE

"The proposed bond issuance, if completed, will have limited impact
on Zensun's credit profile, given that the proceeds will mainly be
used to refinance the company's existing debt," says Celine Yang, a
Moody's Assistant Vice President and Analyst.

Moody's expects that the company will accelerate land acquisitions
over the coming 6-12 months, which will increase its debt funding
needs. Therefore, Zensun's revenue/adjusted debt will likely weaken
to around 66%-70% over the next 12-18 months from 111% for the 12
months ended June 30, 2019. Meanwhile, EBIT/interest will likely
fall to 2.3x-2.7x from 4.5x over the same period, driven by higher
leverage and lower profit margins. These levels are weak for the
company's B1 CFR.

Zensun achieved 4.3% growth in contracted sales to RMB37.4 billion
in 2019 (RMB 51.8 billion if including sales of resettlement
housing). Moody's expects its contracted sales to decline around 5%
in 2020 from 2019, partially driven by expected weak sales in 1Q
2020 from the coronavirus outbreak. Moody's will continue to
monitor developments and evaluate the credit impact if the
disruption extends beyond 1Q 2020.

Zensun's B1 CFR reflects the company's (1) established brand name
and leading market position in Zhengzhou in Henan province; and (2)
established track record of urban redevelopment projects in the
city, supporting the company's ability to acquire new contracts for
redevelopment projects in Zhengzhou.

However, Zensun's B1 CFR is constrained by the company's geographic
concentration in Zhengzhou, its weakening credit metrics and the
execution risks associated with its expansion outside of its home
market. The B1 CFR further factors in its private company status,
which has the potential to constrain its corporate governance and
transparency, despite the listed status of its subsidiaries.

The negative rating outlook reflects Moody's expectation that
Zensun's credit metrics will deteriorate over the next 6- 12 months
to levels that are weak for its current rating, driven by the
company's slowed cash collection, mainly as a result of a
lengthened cash collection cycle, and its restrained ability to
execute its business growth plans.

In terms of environmental, governance and social (ESG) factors,
Moody's has considered the company's private company status and
concentrated ownership. However, these risks are partly mitigated
by: (1) its Hong Kong-listed subsidiary, Zensun Enterprise Limited,
which is subject to the corporate governance standards as required
by the territory's listing rules; and (2) the disclosure
requirements that apply to its core onshore subsidiary, Henan
Hongguang Zensun Real Estate Co., Ltd, as a result of its issuance
of onshore bonds. These two subsidiaries account for the majority
of Zensun's operations.

An upgrade of Zensun's ratings is unlikely given the negative
outlooks.

However, Moody's could revise the outlooks to stable if Zensun (1)
achieves sustained growth in contracted sales (excluding
resettlement sales) and revenue without sacrificing its profit
margin; (2) replenishes its land bank without compromising its
liquidity position; and (3) meaningfully improves its cash
collection rate and onshore funding access.

Specific credit metrics that could trigger a change in outlook to
stable include: EBIT/interest staying above 2.5x-3.0x and
revenue/adjusted debt above 75%, both on a consistent basis; and a
further improvement in cash (including restricted cash) to
short-term debt to above 1.0x on a sustained basis.

On the other hand, Moody's could downgrade the ratings if Zensun
(1) fails to execute its business growth plans; (2) fails to
recover its cash collection; or (3) materially increases its debt
leverage.

Credit metrics indicative of a downgrade include EBIT/interest
coverage falling below 2.5x or adjusted revenue/debt falling below
70%-75% on a sustained basis.

A deterioration in its liquidity, such that refinancing risk rises
materially, could also lead to a downgrade.

The principal methodology used in this rating was Homebuilding And
Property Development Industry published in January 2018.



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

ACQUA PEARL: CRISIL Migrates B+ Rating to Not Cooperating
---------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Acqua Pearl
Properties And Exports (India) Private Limited (APPIPL) to 'CRISIL
B+/Stable Issuer not cooperating'.

                     Amount
   Facilities      (INR Crore)     Ratings
   ----------      -----------     -------
   Term Loan            5.15       CRISIL B+/Stable (ISSUER NOT
                                   COOPERATING; Rating Migrated)

CRISIL has been consistently following up with APPIPL 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 APPIPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on APPIPL 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 APPIPL to 'CRISIL B+/Stable Issuer not cooperating'.

APPIPL was set up in 2018, by Mr Salim. The company provides
warehouse facilities to shrimp growers.

AKAR AUTO: Ind-Ra Affirms 'BB+' Long Term Issuer Rating
-------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed Akar Auto
Industries Limited's (Akar; formerly Akar Tools Limited) Long-Term
Issuer Rating at 'IND BB+ (ISSUER NOT COOPERATING)' - 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 continue to appear as 'IND BB+ (ISSUER NOT
COOPERATING)' on the agency's website.

The instrument-wise rating actions are:

-- INR45 mil. Long-term loans affirmed with IND BB+ (ISSUER NOT
     COOPERATING) rating;

-- INR343 mil. Fund-based facilities affirmed with IND BB+
     (ISSUER NOT COOPERATING)/ IND A4+ (ISSUER NOT COOPERATING)
     rating; and

-- INR60 mil. Non-fund-based facilities affirmed 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 Akar's continued medium scale of
operations, as indicated by revenue of INR2,778 million in FY19
(FY18: INR2,421). The company booked a turnover of INR1,539.8
million in 9MFY20 (9MFY19: INR2,178 million).

The ratings reflect the moderate credit metrics due to high debt
levels. The company's net leverage (adjusted net debt/operating
EBITDA)deteriorated to 3.6x in FY19 (FY18: 3.1x) due to an increase
in debt to INR664 million (FY18: INR570 million). The interest
coverage (operating EBITDA/gross interest expense) remained almost
stable at 2.3x in FY19 (FY18: 2.2x).

The ratings are supported by the healthy EBITDA margins. The
margins fell to 6.7% in FY19 (FY18: 7.6%) due to an increase in raw
material prices. The ROCE stood at 16% in FY19 (FY18: 18%).

The ratings are also supported by the promoter's experience of over
three decades in the automobile industry.

The ratings have been maintained in the non-cooperating category as
Akar did not participate in the surveillance exercise and has not
provided information about bank utilization, order book details,
and financial projections for three years, future plans and
management certificate.

COMPANY PROFILE

Incorporated in 1989, Akar Tools manufactures and sells hand tools,
automobile forgings, leaf springs, and parabolic springs.

AKSHAJ ISPAT: CRISIL Migrates B+ Rating to Not Cooperating
----------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Akshaj Ispat
Llp (AIL) to 'CRISIL B+/Stable Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            6.5       CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING; Rating Migrated)

   Proposed Cash          8.5       CRISIL B+/Stable (ISSUER NOT
   Credit Limit                     COOPERATING; Rating Migrated)

CRISIL has been consistently following up with AIL 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 AIL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on AIL 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 AIL to 'CRISIL B+/Stable Issuer not cooperating'.

AIL was incorporated on July 17, 2017, as a limited liability
partnership firm between Mr Raghubir Garg and Mr Anoop Garg. It
trades in and fabricates stainless steel products, such as pipes,
coils, and tubes.

AMAR RICE: CRISIL Migrates B+ Rating to Not Cooperating Category
----------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Amar Rice
Mills - Jammu (ARM) to 'CRISIL B+/Stable Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            5.4       CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING; Rating Migrated)

   Proposed Cash           .6       CRISIL B+/Stable (ISSUER NOT
   Credit Limit                     COOPERATING; Rating Migrated)

CRISIL has been consistently following up with ARM 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 ARM, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on ARM 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 ARM to 'CRISIL B+/Stable Issuer not cooperating'.

ARM, set up as a proprietorship by Mr Mulk Raj in 1977 at Jammu,
undertakes rice milling and sorting.

ARIHANT ELASTOPLAST: CRISIL Migrates B+ Rating to Not Cooperating
-----------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Arihant
Elastoplast Private Limited (AEPL) to 'CRISIL B+/Stable Issuer not
cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           2.5        CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING; Rating Migrated)

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

CRISIL has been consistently following up with AEPL 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 AEPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on AEPL 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 AEPL to 'CRISIL B+/Stable Issuer not cooperating'.

Incorporated in 2007, AEPL manufactures luggage bags. The company
is promoted by Mr. Sanjay Jain and is based in Haridwar,
Uttarakhand.

ARJUN EDUCATIONAL: CRISIL Withdraws D Rating on INR10cr Loans
-------------------------------------------------------------
CRISIL has withdrawn its rating on the bank facilities of Arjun
Educational Trust (AET) on the request of the company and after
receiving no objection certificate from the bank. The rating action
is in-line with CRISIL's policy on withdrawal of its rating on bank
loan facilities.

                      Amount
   Facilities       (INR Crore)    Ratings
   ----------       -----------    -------
   Cash Term Loan         5        CRISIL D (ISSUER NOT
                                   COOPERATING; Migrated from
                                   'CRISIL D'; Rating Withdrawn)

   Overdraft              0.5      CRISIL D (ISSUER NOT
                                   COOPERATING; Migrated from
                                   'CRISIL D'; Rating Withdrawn)

   Proposed Long Term     4.5      CRISIL D (ISSUER NOT
   Bank Loan Facility              COOPERATING; Migrated from
                                   'CRISIL D'; Rating Withdrawn)

CRISIL has been consistently following up with AET for obtaining
information through letters and emails dated December 31, 2019,
February 3, 2020 and February 7, 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 AET. This restricts CRISIL's
ability to take a forward looking view on the credit quality of the
entity. CRISIL believes that the information available for AET is
consistent with 'Scenario 1' outlined in the 'Framework for
Assessing Consistency of Information with CRISIL BB' rating
category or lower. Based on the last available information, CRISIL
has migrated the ratings on the bank facilities of AET to 'CRISIL D
Issuer not cooperating'.

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

AET, set up in 2011, runs an engineering college in Coimbatore. Mr
Surya Narayanan, the chairman, manages the operations.

ARYAN SILK: CRISIL Migrates D Rating to Not Cooperating Category
----------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Aryan Silk
Mills (ASM) to 'CRISIL D Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit             7        CRISIL D (ISSUER NOT
                                    COOPERATING; Rating Migrated)

CRISIL has been consistently following up with ASM for obtaining
information through letters and emails dated December 31, 2019,
February 3, 2020 and February 7, 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 ASM, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on ASMis 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 ASM to 'CRISIL D Issuer not cooperating'.

ASM, based in Mumbai, is a partnership firm set up in 1982 by Mr
Subhash Arya and his family. It manufactures man-made and cotton
fabrics (shirtings and suitings) under the brand, Aryan Silk. The
firm's facility for design work is in Bhiwandi, Maharashtra. ASM
follows an asset-light model and outsources the manufacturing and
processing work to vendors.

ASHA RAM: CRISIL Migrates 'D' Rating to Not Cooperating
-------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Asha Ram Tek
Ram Educational Trust (ARTRET) to 'CRISIL D Issuer not
cooperating'.

                      Amount
   Facilities       (INR Crore)    Ratings
   ----------       -----------    -------
   Term Loan              5        CRISIL D (ISSUER NOT
                                   COOPERATING; Rating Migrated)

CRISIL has been consistently following up with ARTRET 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 ARTRET, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on ARTRET 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 ARTRET to 'CRISIL D Issuer not cooperating'.

ARTRET, registered in 2011, operates Asha Jyoti Vidyapeeth School
in Faridabad (Haryana). The school is affiliated to the Central
Board of Secondary Education. Mr Satyavir Dagar and Mrs Prem Lamba
are the key promoters.

ATEK INFOVISION: Insolvency Resolution Process Case Summary
-----------------------------------------------------------
Debtor: Atek Infovision Pvt. Ltd
        101 Vishal Tower District Centre
        Janak Puri New Delhi
        DL 110058
        India

Insolvency Commencement Date: February 21, 2020

Court: National Company Law Tribunal, New Delhi Bench

Estimated date of closure of
insolvency resolution process: August 18, 2020

Insolvency professional: Ranjan Chakraborti

Interim Resolution
Professional:            Ranjan Chakraborti
                         1/22, Second Floor
                         Asaf Ali Road
                         New Delhi 110002
                         E-mail: ranjanns@gmail.com

                            - and -

                         Flat No. 522, Sector-17D
                         Konark Enclave, Vasundhara
                         Ghaziabad, U.P. 201012
                         E-mail: atekirp@gmail.com

Last date for
submission of claims:    March 5, 2020


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

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit             5        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Rating Migrated)

   Proposed Long Term      0.74     CRISIL B/Stable (ISSUER NOT
   Bank Loan Facility               COOPERATING; Rating Migrated)

   Term Loan               4.26     CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Rating Migrated)

CRISIL has been consistently following up with AVC 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 AVC, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on AVC 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 AVC to 'CRISIL B/Stable Issuer not cooperating'.

AVC was set up as a partnership firm of Mr Om Prakash Makkar and Mr
Rajesh Makkar. It is the exclusive authorised dealer for M&M's
passenger and utility vehicles in Muktsar (Punjab). Operations
began from April 2014.

BABA SANTINATH: CRISIL Migrates B+ Rating to Not Cooperating
------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Baba Santinath
Rice Mill (BSRL) to 'CRISIL B+/Stable Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Proposed Cash         5          CRISIL B+/Stable (ISSUER NOT
   Credit/Bills                     COOPERATING; Rating Migrated)
   Discounting Limit     

   Proposed Term Loan    4          CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING; Rating Migrated)

CRISIL has been consistently following up with BSRL 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 BSRL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on BSRL 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 BSRL to 'CRISIL B+/Stable Issuer not cooperating'.

Baba Santinath Rice Mill set up in the year 2018 as a Partnership
firm is setting up a par boiled rice mill with a capacity of 96tpd.
It is promoted by Mr. Surajit Nandi, Pintu Ghosh, Gopal Ghosh.
Dhiman Dey and Tufhan Chandra.

CHAMPION GROUP: CRISIL Migrates 'B' Rating to Not Cooperating
-------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Champion Group
of Company (CGC) to 'CRISIL B/Stable Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)    Ratings
   ----------       -----------    -------
   Cash Credit           7.5       CRISIL B/Stable (ISSUER NOT
                                   COOPERATING; Rating Migrated)

CRISIL has been consistently following up with CGC 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 CGC, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on CGC 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 CGC to 'CRISIL B/Stable Issuer not cooperating'.

Set up in 1994 in Patna as a proprietorship firm by Mr. Amit Singh,
CGC trades in rice and sand.

CLASSIC AGENCIES: CRISIL Moves B+ Rating to Not Cooperating
-----------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Classic
Agencies (CA) to 'CRISIL B+/Stable Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           6.36       CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING; Rating Migrated)

   Long Term Loan        1.00       CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING; Rating Migrated)

   Proposed Working      0.64       CRISIL B+/Stable (ISSUER NOT
   Capital Facility                 COOPERATING; Rating Migrated)

CRISIL has been consistently following up with CA 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 CA, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on CA 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 CA to 'CRISIL B+/Stable Issuer not cooperating'.

CA is a partnership firm of Mr. Jayaprakashan, Mr Obaidullah Khan,
Mr. Unnikrishnan and Mr. V. Mani. The firm, based in Kozhikode, is
a dealer in electrical home appliances of Bajaj Home Appliances,
Bosch and Crompton Greaves Ltd etc.

CORPORATE FASHION: CRISIL Migrates D Rating to Not Cooperating
--------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Corporate
Fashion Private Limited (CFPL) to 'CRISIL D/CRISIL D Issuer not
cooperating'.

                      Amount
   Facilities       (INR Crore)    Ratings
   ----------       -----------    -------
   Cash Credit           6.54      CRISIL D (ISSUER NOT
                                   COOPERATING; Rating Migrated)

   Letter of Credit      1.25      CRISIL D (ISSUER NOT
                                   COOPERATING; Rating Migrated)

   Long Term Loan        1.31      CRISIL D (ISSUER NOT
                                   COOPERATING; Rating Migrated)

   Standby Letter        0.90      CRISIL D (ISSUER NOT
   of Credit                       COOPERATING; Rating Migrated)

CRISIL has been consistently following up with CFPL for obtaining
information through letters and emails dated December 31, 2019,
February 3, 2020 and February 7, 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 CFPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on CFPL 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 CFPL to 'CRISIL D/CRISIL D Issuer not cooperating'.

CFPL was incorporated in fiscal 2011, promoted by Mr Prateek
Sharma, Mr Vijay Pal Singh, and Mr Prakash Jat. The company, based
in Bhilwara, Rajasthan, manufactures readymade garments, mainly
trousers for men, and also trades in fabric and readymade garments.
Commercial operations began in 2014.

DERBY PLANTATIONS: CRISIL Hikes Rating on INR5.2cr Loan to B-
-------------------------------------------------------------
CRISIL has upgraded its rating on the long-term bank facilities of
Derby Plantations Private Limited (DPPL; part of the Mantri group)
to 'CRISIL B-/Stable' from 'CRISIL C'. The upgrade has been driven
by improved operating efficiency of the company because of better
operating profitability.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            5.2       CRISIL B-/Stable (Upgraded
                                    from 'CRISIL C')

CRISIL's rating reflects the group's exposure to seasonality of tea
production, high operating leverage, and weak financial risk
profile. These weaknesses are partially offset by the extensive
experience of the promoters in the tea industry.

Analytical Approach

For arriving at its rating, CRISIL has combined the business and
financial risk profiles of Manipur Tea Co Pvt Ltd (Manipur Tea),
Mantri Tea Co. Pvt Ltd (MTCPL), DPPL, and Ruttonpore Plantations
Pvt Ltd (RPPL) collectively referred to as the Mantri group. This
is because these entities have a common management, and are in the
same line of business, with operational and financial linkages.

Unsecured loans have been treated as debt.

Key Rating Drivers & Detailed Description

Strengths:
* Exposure to seasonality of tea production and high operating
leverage
Being a seasonal product, the production of tea depends on the
monsoon and remains susceptible to adverse weather conditions. Tea
plantations also incur fixed cost, with labour alone accounting for
nearly 40% of total cost. If tea production is lower than expected,
then the group could incur operating losses, as seen in the past.
Limited pricing power further constrains the operating margin of
small players like the Mantri group.

* Weak financial risk profile
The weak financial risk profile is reflected in below-average debt
protection metrics. Interest coverage and net cash accrual to total
debt ratios were minus 1.29 times and minus 0.02 time,
respectively, for fiscal 2019. Gearing and networth were moderate
at 2.13 times and INR19.43 crore, respectively, as on March 31,
2019.

Strength
* Extensive experience of the promoters in the tea industry
The promoters have an experience of five decades in the tea
plantation business, which has helped the group sustain its
position, despite regular volatility in prices, and report stable
revenue growth over the four fiscals through 2018.

Liquidity Stretched
* High bank limit utilisation:
Bank limit utilisation is high at 92.04% for the six months through
September 2019.

* Cash accrual insufficient to meet debt obligation
Cash accrual is expected to be over INR0.60 crore, which is
insufficient against term debt obligation of INR1.00 crore over the
medium term. The same is supported by unsecured loans from the
promoters.

* Low current ratio:
Current ratio was low at 0.62 time as on March 31, 2019.


Outlook: Stable
CRISIL believes that growth in revenue along with stable operating
margin will lead to healthy financial risk profile. The outlook may
be revised to 'Positive' if the firm reports significant revenue
growth and healthy operating margin, and improves its financial
risk profile. The outlook may be revised to 'Negative' in case of
lower-than-expected growth in revenue, drop in profitability, or
any large capital withdrawal, weakening the financial risk
profile.


Rating Sensitivity factors

Upward factors
* Sustained improvement in revenue by at least 10% and stable
operating margin, leading to higher cash accrual (in excess of debt
obligation)
* Improvement in working capital cycle, with debtors falling below
45 days

Downward factors
* Overdrawing of working capital limit for more than 30 days
* Single-day delay in repayment of term debt (either principal or
interest)

The Mantri group was formed in 1948 by Mr Govind Prasad Mantri. The
Manipur Tea Estate, located in Assam, was its first acquisition in
1954. Subsequently, the group acquired three more tea gardens in
Assam: Ruttonpore Tea Estate in 1986, Derby Tea Estate in 2005, and
Pathini Tea Estate (MTCPL) in 2006. Daily operations are now
overseen by the second and third-generation members of the promoter
family, along with a professional management team.

DHAVALPRATAPSINH MOHITEPATIL: Insolvency Resolution Case Summary
----------------------------------------------------------------
Debtor: Dhavalpratapsinh Mohitepatil Agro Industries Limited
        "Pratapgad"
        At:Dhavalnagar
        Post: Shankarnagar
        Taluka: Malshiras
        Solapur MH 413118
        IN

Insolvency Commencement Date: February 20, 2020

Court: National Company Law Tribunal, Mumbai Bench

Estimated date of closure of
insolvency resolution process: August 17, 2020

Insolvency professional: Dharit Kishorbhai Shah

Interim Resolution
Professional:            Dharit Kishorbhai Shah
                         C/o. Bipin & Co
                         Chartered Accountants
                         302, Centre Point
                         R.C. Dutt Road
                         Alkapuri, Vadodara
                         Gujarat 390007
                         E-mail: bipin.smdt@gmail.com
                                 cirp.dhavalpratap@gmail.com

Last date for
submission of claims:    March 5, 2020


GOOD MEDIA: CRISIL Migrates 'B' Rating to Not Cooperating
---------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Good Media
News Private Limited (GMN) to 'CRISIL B/Stable Issuer not
cooperating'.

                      Amount
   Facilities       (INR Crore)    Ratings
   ----------       -----------    -------
   Cash Credit            6        CRISIL B/Stable (ISSUER NOT
                                   COOPERATING; Rating Migrated)

   Rupee Term Loan        5        CRISIL B/Stable (ISSUER NOT
                                   COOPERATING; Rating Migrated)

CRISIL has been consistently following up with GMN for obtaining
information through letters and emails dated February 3, 2020 and
February 7, 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 GMN, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on GMN 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 GMN to 'CRISIL B/Stable Issuer not cooperating'.

GMN was formed in 2001 to carry out the operations of a multi
system operator in Himachal; the company was set up by Mr. Mukesh
Malhotra. GMN's registered office is in Himachal. The company has
around 150 local offices across Himachal Pradesh.

GOVIND STONE: CRISIL Assigns B Rating to INR10cr Loans
------------------------------------------------------
CRISIL has assigned its 'CRISIL B/Stable' rating to the long-term
bank facilities of Govind Stone Crusher (GSC).

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Proposed Working
   Capital Facility     6.01        CRISIL B/Stable (Assigned)

   Rupee Term Loan      3.99        CRISIL B/Stable (Assigned)

The rating reflects the firm's exposure to cyclicality in end-user
industry, modest scale of operations, and weak financial risk
profile. These weaknesses are partially offset by the extensive
experience of its partners.

Key Rating Drivers & Detailed Description

Weakness:
* Exposure to cyclicality in end-user industry: The firm caters to
the real estate, construction, and infrastructure industries, which
are cyclical and are strongly correlated to economic cycles. In the
past, because of economic recession, the construction sector faced
a slowdown, with several projects getting delayed or cancelled.

* Modest scale of operations: Business risk profile is constrained
by the firm's small scale in the intensely competitive construction
material industry. This will continue limit operating flexibility.

* Weak financial risk profile: Networth was small at INR1.41 crore
and gearing high at 8.05 times, as on March 31, 2019 Debt
protection metrics also remained muted, with interest coverage
ratio of 0.42 time for fiscal 2019. Metrics are expected to remain
average over the medium term because of large debt.

Strength
* Extensive experience of the partners: Longstanding presence in
the construction material industry has enabled the partners to
understand market dynamics and establish healthy relationships with
suppliers and customers.

Liquidity Poor

The firm has reported cash losses in fiscal 2019 against repayment
obligations of INR1 crore. Further over the medium term the
accruals are expected to remain at the range of INR30-40 lacs which
remains insufficient against the maturing annual debt obligations
of INR80-100 lacs. Fund support from partners with equity infusion
and unsecured loans is expected to support the liquidity over the
medium term.

Outlook: Stable

CRISIL believes GSC will continue to benefit from the extensive
experience of its partners and established relationships with
clients.

Rating Sensitivity factors

Upward factors
* Better financial risk profile with infusion of equity or
unsecured loans
* Improvement in revenue by 40-50% with stable operating margin

Downward factors
* Capital withdrawal leading to stretch in liquidity
* Decline in revenue for more than 30%

Established in 2017 as a partnership firm by Mr Sandeep Kumar, Mr
Shri Krishan, Mr Harbhajan Singh, Mr Gurpreet Kaur Anand, and Mr
Jitendra Sharma, GSC crushes stones that are used for road and
other civil constructions. Unit is in Kashipur, Uttarakhand.

HIKE LEATHER: Insolvency Resolution Process Case Summary
--------------------------------------------------------
Debtor: M/s Hike Leather Pvt Ltd
        14 Leather Complex
        Kapurthala Road
        Jalandhar 144021

Insolvency Commencement Date: February 20, 2020

Court: National Company Law Tribunal, Jalandhar City Bench

Estimated date of closure of
insolvency resolution process: August 17, 2020

Insolvency professional: Rakesh Phull

Interim Resolution
Professional:            Rakesh Phull
                         P-602, Jalandhar Heights
                         66 Ft Road
                         Jalandhar 144022
                         E-mail: rakeshphul@gmail.com
                                 hikeleathercirp@gmail.com

Last date for
submission of claims:    March 5, 2020


HITECH MARKETING: CRISIL Cuts Rating on INR7cr Cash Loan to 'B'
---------------------------------------------------------------
CRISIL has downgraded its rating on the long-term bank facility of
Hitech Marketing (HM) to 'CRISIL B/Stable' from 'CRISIL
BB-/Stable'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            7         CRISIL B/Stable (Downgraded
                                    from 'CRISIL BB-/Stable')

The downgrade reflects weakening of the business risk profile, due
to a decline in demand for poultry feed and medicines, caused by
increase in prices of medicines and feedstock, and no improvement
in pricing of end-products. Delays in payments from customers, have
led to weak liquidity, also reflected in high bank limit
utilization.

The rating continues to reflect the extensive experience of the
promoter in the poultry feed and medicines trading business. This
strength is partially offset by working capital-intensive
operations, and the below-average financial risk profile.

Key Rating Drivers & Detailed Description

Weaknesses
* Working capital-intensive nature of operations: Gross current
assets were high between 180 and 230 days, owing to large inventory
of 90-120 days and receivables of 90-140 days, over the past three
fiscals. Working capital management will remain a key rating
monitorable, over the medium term.

* Below-average financial risk profile: Financial risk profile is
marked by a high total outside liabilities to tangible net worth
ratio of around 4.78 times as on March 31, 2019, primarily because
of greater dependence on bank debt, with utilisation averaging over
98% over the 12 months through January 2020. Debt protection
metrics are also weak, marked by interest coverage ratio of 1.56
times and net cash accrual to adjusted debt ratio of 0.05 time,
respectively, for fiscal 2019, and may remain constrained by modest
cash accrual. Sluggish demand from customers is likely to result in
a huge decline in revenue in fiscal 2020, and thereby weaken the
financial risk profile.

Strength
* Extensive experience of the promoter: The promoter, Mr Yashpal
Singla has been in engaged in a similar business since 1984,
through another entity, Paul Traders. Longstanding presence has
helped the promoter maintain healthy relationships with customers
and suppliers, and expand operations to Uttar Pradesh, Haryana,
Rajasthan, Himachal Pradesh, Uttaranchal, and Jammu and Kashmir.

Liquidity Stretched
Liquidity remains stretched, marked by high bank limit utilisation,
averaging 98% over the 12 months through January 2020. Net cash
accrual is expected to be negative in fiscal 2020, owing to likely
drop in revenue, stemming from muted demand.

Outlook: Stable

CRISIL believes that HM will continue to benefit over the medium
term from the extensive experience of its promoters

Rating Sensitivity Factors

Upward Factors
*Growth in revenue and profitability, leading to net cash accrual
of INR50 lakh or more
*Better working capital management.

Downward Factor
*Decline in revenue and profitability (to below 3%) leading to
stretched liquidity
*Stretch in receivables, exerting pressure on working capital
cycle.

HM was set up in 1990 at Chandigarh, Punjab. The firm trades in
medicated poultry feed and medicines. Promoter, Mr Yashpal Singla
has been engaged in a similar business since 1984, through another
entity, Paul Distributors.

IMPEX INDIA: CRISIL Migrates D Rating to Not Cooperating Category
-----------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Impex
India-Dehradun (II-D) to 'CRISIL D Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Proposed Term         0.87       CRISIL D (ISSUER NOT
   Loan                             COOPERATING; Rating Migrated)

   Term Loan             9.13       CRISIL D (ISSUER NOT
                                    COOPERATING; Rating Migrated)

CRISIL has been consistently following up with II-D for obtaining
information through letters and emails dated February 3, 2020 and
February 7, 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 II-D, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on II-D 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 II-D to 'CRISIL D Issuer not cooperating'.

II-D was established as a partnership concern between Mr Rajendra
Mimani, Mrs Saroj Mimani, and Mr Ashish Mimani-with equal profit
sharing ratio-in 1973. The firm was involved in a marketing
business, but has now undertaken a solar power project, backed by a
long-term power purchase agreement with UPCL.

INTER LABS: Insolvency Resolution Process Case Summary
------------------------------------------------------
Debtor: M/s. Inter Labs (India) Private Limited
        7-1-644/2/1/F, G 1
        Veera Palace Sundar Nagar
        Erragadda Hyderabad
        TG 500038
        IN
        E-mail: interlabs_india@yahoo.co.in

Insolvency Commencement Date: February 25, 2020

Court: National Company Law Tribunal, Hyderabad Bench-I

Estimated date of closure of
insolvency resolution process: August 22, 2020

Insolvency professional: P.V.B. Sudhakara Rao

Interim Resolution
Professional:            P.V.B. Sudhakara Rao
                         8-3-677/8, Divya Collections
                         2nd floor, Near Ganapathi Complex
                         SKD Nagar, Yellareddyguda
                         Hyderabad, Andhra Pradesh 500073
                         E-mail: pasalasudhakar3@gmail.com

                            - and -

                         K-Source Insolvency Professional
                         Services Pvt. Ltd.
                         Flat No. 104, Kavuri Supreme Enclave
                         Opp: Punjab & Sindh Bank
                         Kavuri Hills, Madhapur
                         Hyderabad 500033
                         E-mail: ip.interlabsindia@gmail.com
                         Mobile: 9790984918
                                 9490267099

Last date for
submission of claims:    March 9, 2020


JAYAKUMARAN EXPORTS: Ind-Ra Withdraws BB-, NonCooperating Rating
----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has maintained Jayakumaran
Exports' 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:

-- INR110 mil. Fund-based working capital limit * maintained in
     non-cooperating category and withdrawn;

-- INR50 mil. Term loan ** due on September 9, 2027, maintained in

     non-cooperating category and withdrawn; and

-- INR20 mil. Proposed fund-based working capital limit #
     maintained in a non-cooperating category and withdrawn.

* Maintained at 'IND BB- (ISSUER NOT COOPERATING)'/'IND A4+
   (ISSUER NOT COOPERATING)' before being withdrawn

** Maintained at 'IND BB- (ISSUER NOT COOPERATING)' before being
     withdrawn

# Maintained at 'Provisional IND BB- (ISSUER NOT COOPERATING)'/'

    Provisional IND A4+ (ISSUER NOT COOPERATING)' before being
    withdrawn

KEY RATING DRIVERS

Jayakumaran Exports 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 the agency
has received a no-objection certificate from the lenders. This is
consistent with the Securities and Exchange Board of India's
circular dated March 31, 2017, for credit rating agencies.

COMPANY PROFILE

Established in 1993 as Imayam Knitwear and later renamed in 2006,
Tirupur-based Jayakumaran Exports manufactures knitted garments.

JORABAT SHILLONG: Ind-Ra Affirms 'D' Non-Convertible Debt Rating
----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed Jorabat Shillong
Expressway Limited's (JSEL) non-convertible debentures' (NCDs)
ratings as follows:

-- INR6.412 bil. (outstanding INR5,924.2 bil. as of January 31,
     2020) Senior NCDs* (Long term) affirmed with IND D rating;
     and

-- INR2,421.6 bil. (outstanding INR2,237.3 bil. as of January 31,

     2020) Subordinate NCDs* (Long term) affirmed with an IND D
     rating.

* Details in annexure

KEY RATING DRIVERS

JSEL, held equally by IL&FS Transportation Networks Limited
(ITNL,'IND D') and Ramky Infrastructure Limited, continues to be in
default due to the non-servicing of its debt service obligations to
the debenture holders, as confirmed by the debenture trustee.

Ind-Ra continues to seek clarity on the resolution plans of the
ultimate parent - Infrastructure Leasing & Financial Services
(IL&FS; 'IND D') and its group companies' debt, in accordance with
the National Company Law Appellate Tribunal (NCLAT) orders.

JSEL had received eight annuities until January 31, 2020. The
annuities have been received in a timely manner, although there
have been some deductions. Of the gross value of INR725.10 million
of the eight annuities, the approved amount of INR714.49 million
was received on January 28, 2020.

The company's management has confirmed a debt service reserve
balance of INR590 million; major maintenance reserve of INR76
million; and investment in mutual funds of INR1,300 million, as on
January 31, 2020.

JSEL has been classified under the amber category, according to the
National Company Law Appellate Tribunal order dated 12 February
2019, which defines amber entities as domestic group entities which
are not able to meet all their obligations (financial and
operational), but can meet only operational payment obligations and
payment obligations to senior secured financial creditors'.

RATING SENSITIVITIES

Positive: Timely debt servicing for three consecutive months will
result in an upgrade.

COMPANY PROFILE

JSEL is a special purpose vehicle that was incorporated to
implement a lane-expansion project under the build-operate-transfer
annuity model. JSEL has a 20-year concession (expiring in January
2031) from the National Highways Authority of India to design,
construct, develop, finance, operate and maintain a 61.8km stretch
between Jorbat (Assam) and Barapani (Meghalaya) on National
Highway-40.

JOYGOPAL FOOD: CRISIL Migrates B+ Rating to Not Cooperating
-----------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Joygopal Food
Products Private Limited (JGFPPL) to 'CRISIL B+/Stable/CRISIL A4
Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Bank Guarantee         1         CRISIL A4 (ISSUER NOT
                                    COOPERATING; Rating Migrated)

   Cash Credit            4.25      CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING; Rating Migrated)

   Long Term Loan         5.75      CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING; Rating Migrated)

CRISIL has been consistently following up with JGFPPL 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 JGFPPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on JGFPPL 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 JGFPPL to 'CRISIL B+/Stable/CRISIL A4 Issuer not
cooperating'.

Incorporated in 2013 in West Bengal and promoted by Patra family,
JGFPPL mills wheat with capacity of 175 tonne per day. Operations
are managed by Mr Binay Patra.

KALKA HOME: Insolvency Resolution Process Case Summary
------------------------------------------------------
Debtor: Kalka Home Developers Private Limited
        RZ-174B, Gali No. 16
        Tuglakabad Extn.
        New Delhi 110019
        IN

Insolvency Commencement Date: February 14, 2020

Court: National Company Law Tribunal, Indirapuram (NCR) Bench

Estimated date of closure of
insolvency resolution process: August 12, 2020

Insolvency professional: Manoj Kumar

Interim Resolution
Professional:            Manoj Kumar
                         C-0305, ATS Advantage
                         Indirapuram
                         Ghaziabad 201014
                         E-mail: manojjain264@gmail.com
                                 cirp.kalkahomedevepers@
                                 gmail.com

Classes of creditors:    Home Buyers

Insolvency
Professionals
Representative of
Creditors in a class:    Mr. Anil Tayal
                         E-mail: caaniltayal@gmail.com

                         Mr. Kailash Chander Jain
                         E-mail: kcjrp2019@gmail.com

                         Mr. Radhey Shyam Yadav
                         E-mail: rsyadav01@gmail.com

Last date for
submission of claims:    March 5, 2020


KARTIKEYA PAPER: CRISIL Migrates 'B' Rating to Not Cooperating
--------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Kartikeya
Paper Distributor Private Limited (KPDPL) to 'CRISIL B/Stable
Issuer not cooperating'.

                       Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            25        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Rating Migrated)

CRISIL has been consistently following up with KPDPL for obtaining
information through letters and emails dated November 30, 2019,
February 3, 2020 and February 7, 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 KPDPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on KPDPL 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 KPDPL to 'CRISIL B/Stable Issuer not cooperating'.

KPDPL, incorporated in April 1998 at Lucknow and promoted by Mr Raj
Kumar Agarwal, trades in paper and paper products. The company is
an authorised distributor of Ballarpur Industries Limited and Avery
Denison (India) Pvt Ltd.

KEMAC CHEM: Insolvency Resolution Process Case Summary
------------------------------------------------------
Debtor: Kemac Chem Private Limited
        Ground Floor, F-24/131
        Sector-7, Rohini
        Delhi 110085

Insolvency Commencement Date: February 25, 2020

Court: National Company Law Tribunal, Bench-IV, New Delhi

Estimated date of closure of
insolvency resolution process: August 24, 2020

Insolvency professional: Vishnu Dutt

Interim Resolution
Professional:            Vishnu Dutt
                         219, Anarkali Bazar
                         Jhandewalan Extension
                         New Delhi 110055
                         E-mail: vishnudutt2050@yahoo.com

                            - and -

                         Mantrah Insolvency Professional
                         Private Limited
                         1203, Vijaya Building
                         Barakhamba Road
                         Connaught Place
                         New Delhi 110001
                         E-mail: cirp.kemac@gmail.com

Last date for
submission of claims:    March 12, 2020


KNND ASSOCIATES: Ind-Ra Lowers Long Term Issuer Rating to 'BB+'
---------------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded KNND Associates
Private Limited's (KNND) Long-Term Issuer Rating to 'IND BB+
(ISSUER NON-COOPERATING)' from 'IND BBB- (ISSUER NOT COOPERATING)'.
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 instrument-wise rating actions are:

-- INR50 mil. Fund-based limits downgraded with IND BB+ (ISSUER
     NOT COOPERATING) rating; and

-- INR90 mil. Non-fund-based limits downgraded 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 downgrade reflects a breach in Ind-Ra's negative rating
guideline as KNND's revenue declined to INR743 million in FY19
(FY18: INR927 million). The company's EBITDA margin contracted to
1.1% in FY19 (FY18: 7.3%) due to an increase in variable expenses.
Interest coverage (operating EBITDA/gross interest expense)
deteriorated to 29.2x in FY19 (FY18: 168.6x) due to a decline in
absolute EBITDA to INR7.9 million from INR67.8 million.

COMPANY PROFILE

Established in 1996, KNND provides heating, ventilation, and air
conditioning installations. Its services include product designing,
installation, and maintenance for a wide range of market segments
such as software technology parks, data centers, and commercial
complexes, housing colonies, banks, corporate offices, hospitals,
hotels, factories, wholesale stores, and retail stores.

KPK OILS: CRISIL Migrates 'B' Rating to Not Cooperating
-------------------------------------------------------
CRISIL has migrated the rating on bank facilities of KPK Oils and
Proteins India Private Limited (KPK) to 'CRISIL B/Stable Issuer not
cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit             5        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Rating Migrated)

   Long Term Loan          1.3      CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Rating Migrated)

   Proposed Long Term
   Bank Loan Facility      3.7      CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Rating Migrated)

CRISIL has been consistently following up with KPK 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 KPK, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on KPK 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 KPK to 'CRISIL B/Stable Issuer not cooperating'.

Incorporated in 2007, KPK, promoted by Mr Kuppuraj Palanisamy,
refines and trades in coconut oil.

LINK ENTERPRISES: CRISIL Migrates 'D' Rating to Not Cooperating
---------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Link
Enterprises (Link) to 'CRISIL D/CRISIL D Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Bank Guarantee         9         CRISIL D (ISSUER NOT
                                    COOPERATING; Rating Migrated)

   Cash Credit            6         CRISIL D (ISSUER NOT
                                    COOPERATING; Rating Migrated)

CRISIL has been consistently following up with Link for obtaining
information through letters and emails dated December 31, 2019,
February 3, 2020 and February 7, 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 Link, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on Link 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 Link to 'CRISIL D/CRISIL D Issuer not cooperating'.

Link was established in 1998 as a partnership firm between Mr Anil
Jaitly and his family. It constructs roads and buildings for state
public works and irrigation departments, and the National Highway
Authority of India.

MADHOOR BUILDWELL: CRISIL Migrates 'D' Rating to Not Cooperating
----------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Madhoor
Buildwell Private Limited (MBPL) to 'CRISIL D/CRISIL D Issuer not
cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Bank Guarantee         4.5       CRISIL D (ISSUER NOT
                                    COOPERATING; Rating Migrated)

   Cash Credit           14.0       CRISIL D (ISSUER NOT
                                    COOPERATING; Rating Migrated)

   Proposed Working
   Capital Facility      14         CRISIL D (ISSUER NOT
                                    COOPERATING; Rating Migrated)

   Rupee Term Loan        7.5       CRISIL D (ISSUER NOT
                                    COOPERATING; Rating Migrated)

CRISIL has been consistently following up with MBPL for obtaining
information through letters and emails dated December 31, 2019,
February 3, 2020 and February 7, 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 MBPL , which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on MBPL 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 MBPL to 'CRISIL D/CRISIL D Issuer not cooperating'.

MBPL has been undertaking real estate development and civil
contraction activities in Nashik since 1994. The founder-promoter
and chairman, Late Mr Ratilal Shivdas Patel, was in the business
for over five decades. His sons - Mr Pradip Ratilal Patel, Mr
Arvind Ratilal Patel, and Mr Chetan Ratilal Patel - currently
manage the business.

MAITHAN ISPAT: Insolvency Resolution Process Case Summary
---------------------------------------------------------
Debtor: Maithan Ispat Limited
        16, Strand Road
        Diamond Heritage
        14th Floor, Room 1412
        Kolkata, West Bengal 700001

Insolvency Commencement Date: February 19, 2020

Court: National Company Law Tribunal, Kolkata Bench

Estimated date of closure of
insolvency resolution process: August 17, 2020

Insolvency professional: Prashant Agrawal

Interim Resolution
Professional:            Prashant Agrawal
                         F-106, First Floor
                         Sumer Complex, Gautam Marg
                         Behind Bagadia Bhawan
                         C-Scheme, Jaipur
                         Rajasthan 302001
                         E-mail: ippagrawal@gmail.com
                                 cirpmil@gmail.com

Last date for
submission of claims:    March 4, 2020


MANCHUKONDA AGROTECH: Ind-Ra Affirms BB+ LT Rating, Outlook Stable
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed Manchukonda
Agrotech Private Limited's (MAPL) Long-Term Issuer Rating at 'IND
BB+'. The Outlook is Stable.

The instrument-wise rating actions are:

-- INR211.9 mil. (reduced from INR288.8 mil.) Term loan due on
     March 2022 affirmed with IND BB+/Stable rating; and

-- INR400 mil. Fund-based limits affirmed with IND BB+/Stable/IND

     A4+ rating.

KEY RATING DRIVERS

The affirmation reflects MAPL's medium scale of operations, as
indicated by revenue of INR2,139 million in FY19 (FY18: INR1,340
million). The revenue increased owing to growth in sales volumes,
improvement in capacity utilization and better marketing measures
adopted by the management. The company's mill has the capacity to
process 48 tons per hour of rice. The capacity utilization improved
to around 70% in FY19 (FY18:  50%), and further to around 80% in
FY20. MAPL also has a co-gen plant for 5MW; post the captive
consumption, which is included as a part of the revenue from
operations, 65%-70% of the electricity generated is sold to the
Karnataka electricity board. The company achieved revenue of
INR2,244.64 million during 9MFY20.

The ratings reflect the modest EBITDA margins owing to the
commoditized nature of the products. The margin declined to 6.9% in
FY19 (FY18: 11.5%), mainly on account of fluctuations in the prices
of inputs (paddy and rice). The cost of paddy accounts for 85%-90%
of the company's cost of producing rice. MAPL's operating
profitability will remain susceptible to volatility in raw material
prices, which essentially depends on the total agricultural output.
The government regulations pertaining to minimum support price and
procurement policies also impact raw material availability. With
rice being a commodity, the market does not have much scope for
premium pricing, and thus, most manufacturers are price takers in
the markets that they operate in.  The return on capital employed
stood at 8.5% in FY19 (FY18: 8.0%).

Liquidity indicator - Stretched:  The average maximum utilization
of the fund-based limits was 60.7% during the 12 months ended in
January 2020. MAPL's utilization is generally at its peak after the
crop season and is minimal during the offseason, as the company has
to store rice and paddy after the crop season, which involves
blockage of working capital. Its cash flow operations increased to
INR35 million in FY19 (FY18: INR18 million) due to better working
capital management.

The net cash conversion cycle improved to 59 days in FY19 (FY18:
116 days), primarily on account of a reduction in inventory holding
period to 34 days (85 days), driven by timely execution of orders.
The company has total repayment obligations of INR77.73 million for
FY20 and FY21. MASF plans to undertake a CAPEX of INR110 million to
set up a 16TPH milling unit in 1HFY21, which is likely to be funded
in the ratio of 70-75:25-30 by debt and internal accruals. This
debt-funded CAPEX would exert further strain on the liquidity
position.

The ratings are also constrained by the moderate credit metrics due
to the modest EBITDA margins. The metrics improved in FY19 owing to
a decline in the total debt due to repayment of term loan and
reduction in the utilization of working capital limits, resulting
from the shortening of the working capital cycle. The interest
coverage (operating EBITDA/gross interest expenses) was 2.8x in
FY19 (FY18: 2.1x) and net leverage (adjusted net debt/operating
EBITDA) was 3.3x (3.9x).

The ratings are supported by the promoters' experience of over 30
years in the trading and processing of rice.

RATING SENSITIVITIES

Negativity: Any substantial time or cost overruns for completing
the CAPEX, any substantial decline in the revenue, volatility in
EBITDA margins, the stress in the liquidity position, resulting in
deterioration in the interest coverage falling below 2.7x, on a
sustained basis, could lead to a rating downgrade.

Positive: Successful completion of the CAPEX without any cost or
time overruns, a sustained improvement in the revenue, better price
risk management, stability in the EBITDA margins, along with an
improvement in the liquidity profile, while maintaining the credit
metrics, all on a sustained basis, could lead to a rating upgrade.

COMPANY PROFILE

MAPL was incorporated in 2009 in Miryalaguda, Telangana. The
company processes rice to produce raw rice, steam rice and par
boiled rice. The company has an installed capacity of
48tonnes/hour. It has also installed a 5MW co-generation power
plant, mainly for captive consumption.

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

The instrument-wise rating actions are:

-- INR80 mil. Fund-based working capital limits migrated to non-
     cooperating category with IND BB (ISSUER NOT COOPERATING) /
     IND A4+ (ISSUER NOT COOPERATING) rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
March 7, 2019. Ind-Ra is unable to provide an update, as the agency
does not have adequate information to review the ratings.

COMPANY PROFILE

Incorporated in 2007, Maniyar Refinary is engaged in the blending
and packaging of edible oils. The unit is in Gaganpahad (Telangana)
and is managed by Mr. Maniyar's sons, Mr. Vijay Kumar Maniyar and
Mr. Vinay Kumar Maniyar.

MICRO POWER: Insolvency Resolution Process Case Summary
-------------------------------------------------------
Debtor: Micro Power Technology Private Limited

        Registered address:
        D 64 BK Dutt Colony
        New Delhi DL 110003
        IN

Insolvency Commencement Date: February 19, 2020

Court: National Company Law Tribunal, New Delhi Bench

Estimated date of closure of
insolvency resolution process: August 17, 2020

Insolvency professional: Reetesh Kumar Agarwal

Interim Resolution
Professional:            Reetesh Kumar Agarwal
                         Unit no. 531, S.G. Shopping Mall
                         D.C. Chowk, Rohini Sector-09
                         Delhi 110085
                         E-mail: carkagarwal@gmail.com
                                 resolvemptpl@gmail.com

Last date for
submission of claims:    March 7, 2020


MINARCH OVERSEAS: Insolvency Resolution Process Case Summary
------------------------------------------------------------
Debtor: Minarch Overseas Private Limited
        G 7 Ashok Plaza Building 12
        A/14 Wea Karol Bagh
        New Delhi DL 110005

Insolvency Commencement Date: February 25, 2020

Court: National Company Law Tribunal, New Delhi Bench

Estimated date of closure of
insolvency resolution process: August 23, 2020

Insolvency professional: Vinod Kumar Chaurasia

Interim Resolution
Professional:            Vinod Kumar Chaurasia
                         A-756, Sector-2
                         Rohini, New Delhi
                         Delhi 110085
                         E-mail: cavinodchaurasia@gmail.com

                            - and -

                         B-22, Pragati Vihar Hostel
                         Lodhi Road, New Delhi 110003
                         E-mail: cirp.minarch@gmail.com

Last date for
submission of claims:    March 10, 2020


NEKKA OIL: Insolvency Resolution Process Case Summary
-----------------------------------------------------
Debtor: Nekka Oil & Fats Private Limited
        17/A, Ratan Sarkar Garden Street
        2nd Floor
        Kolkata 700007
        West Bengal

Insolvency Commencement Date: February 19, 2020

Court: National Company Law Tribunal, Kolkata Bench

Estimated date of closure of
insolvency resolution process: August 16, 2020

Insolvency professional: Neeraj Kejriwal

Interim Resolution
Professional:            Neeraj Kejriwal
                         56, Metcalfe Street
                         2nd Floor, Room No. 2E
                         Kolkata 700013
                         E-mail: nkejriwal.ip@gmail.com
                                 cirp.nekka@gmail.com

Last date for
submission of claims:    March 3, 2020


PREMIER FUTSAL: Insolvency Resolution Process Case Summary
----------------------------------------------------------
Debtor: Premier Futsal Management Private Limited

        Registered office:
        No. 1, Royal Enclave
        Besant Avenue
        Adyar Chennai
        TN 600020
        IN

Insolvency Commencement Date: January 31, 2020

Court: National Company Law Tribunal, Chennai Bench

Estimated date of closure of
insolvency resolution process: August 18, 2020

Insolvency professional: Mr. Kedarram Ramratan Laddha

Interim Resolution
Professional:            Mr. Kedarram Ramratan Laddha
                         501 Shajanand Shopping Centres
                         Shahibaug, Ahmadabad
                         Gujarat 380004
                         E-mail: kedar3000@gmail.com
                                 ip@kpsjca.com

                            - and -

                         B-1002, Mondeal Square
                         Nr. Prahladnagar Garden
                         SG Highway
                         Ahmedabad 380015

Last date for
submission of claims:    March 5, 2020


PROGRESSIVE ENDEAVOURS: Insolvency Resolution Process Case Summary
------------------------------------------------------------------
Debtor: Progresive Endeavours Private Limited
        Village: Sutahatapo Sutahata
        PS: Sutahata, Haldia
        Purba Midnapore
        West Bengal, Pin 721635

Insolvency Commencement Date: February 17, 2020

Court: National Company Law Tribunal, Kolkata Bench

Estimated date of closure of
insolvency resolution process: August 15, 2020

Insolvency professional: Ashok Kumar Agarwal

Interim Resolution
Professional:            Ashok Kumar Agarwal
                         Ashwini-D/4, Neelachal Abasan
                         Co-operative Society Limited
                         98 Rajdanga Gold Park
                         Kasba, E.K.T., Kolkata
                         West Bengal, Pin 700107
                         E-mail: shokkragarwal@hotmail.com
                         Mobile: +919831060452

                            - and -

                         C/o Singhi IP Solutions Private
                             Limited
                         Raja Chambers, 1st Floor
                         4, Kiran Shankar Roy Road
                         Kolkata 700001
                         E-mail: cirp.pepl@singhiipsolutions.com
                         Tel: +913322318652

Last date for
submission of claims:    March 2, 2020


PURVI METALS: Insolvency Resolution Process Case Summary
--------------------------------------------------------
Debtor: Purvi Metals Private Limited
        Plot No. 95/96/129
        Jawahar Co Op Ind Estate
        Kamothe, Panvel
        Dist Raigad
        Mumbai 410219

Insolvency Commencement Date: February 17, 2020

Court: National Company Law Tribunal, Mumbai Bench

Estimated date of closure of
insolvency resolution process: August 19, 2020

Insolvency professional: Rajkumar Mahto

Interim Resolution
Professional:            Rajkumar Mahto
                         Krishna Kewal Housing Society
                         Flat No. 0/16, Kondhwa Khurd
                         Near Domino Pizza
                         Pune 411048
                         E-mail: mahrajkumar@gmail.com

                            - and -

                         Office No. 18, 3rd Floor
                         84 Dholakwala Building
                         Janmabhoomi Marg, Fort
                         Mumbai 400001
                         E-mail: rp.purvimetals@gmail.com

Last date for
submission of claims:    March 6, 2020


RADHA KRISHNA: Ind-Ra Lowers Issuer Rating to BB-, Outlook Stable
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded Radha Krishna
Impex Private Limited's (RKIPL) Long-Term Issuer Rating to 'IND
BB-' from 'IND BBB-'. The Outlook is Stable.

The instrument-wise rating actions are:

-- INR105 mil. Fund-based limits downgraded with IND BB-/Stable
     rating; and

-- INR30 mil. Non-fund-based limits downgraded with IND A4+
     rating.

Downgraded

The downgrade reflects the weakening of legal ties between RKIPL
and its group entity, Unique Foods, resulting in a change in
Ind-Ra's analytical approach to standalone from consolidated. The
legal linkages have weakened because the corporate guarantee
between the companies ceased to exist as of January 2020. The
operational and strategic ties between the entities continue to be
moderate, with limited operational integration.

KEY RATING DRIVERS

RKIPL's revenue declined by 32% yoy to INR336.75million in FY19
(FY18: INR500 million), mainly due to shortage of raw material like
mango pulp and loss of orders from a major customer. However, the
company's revenue is likely to be higher on a yoy basis in FY20,
considering the booking of revenue of INR400 million during
10MFY20, driven by the acquisition of customers. The scale of
operations continues to be small.

The ratings reflect the modest EBITDA margins due to the trading
nature of the business. The margin rose to 5.8% in FY19 (FY18:4.9%)
due to a decline in trading expenses. The RoCE was 5% in FY19
(FY18:7%).

The ratings factor in the moderate credit metrics due to the modest
margins as well as high debt levels. The metrics deteriorated in
FY19 owing to a decline in the absolute EBITDA to INR19.50 mil.
(FY18: INR24.37 mil.) and increase in net borrowings (in the form
of short-term borrowings) to INR148.46 million (FY18:
INR111.08million). The interest coverage ratio was 2.0x in FY19
(FY18:2.3x) and the net leverage was 7.5x (4.5x). In FY20, the
metrics are likely to improve on the back of an improvement in the
absolute EBITDA.

Liquidity Indicator - Stretched: RKIPL's average maximum
utilization of fund-based facilities was 82% in the 12 months
ending December 2019. The cash flow from operations turned negative
at INR35.5million in FY19 (FY18: INR73.63 million) due to the
decline in absolute EBITDA and increased utilization of working
capital limits. The free cash flow also turned negative at INR35.60
million in FY19 (FY18: INR73.26 million). In FY19, the working
capital cycle stretched to 218 days (FY18:107days)  due to an
increase in inventory and debtor days.

The ratings are supported by favorable government policies, such as
the Vishesh Krishi Gram Udyog Yojana, for exporters.

The ratings also derive comfort from the directors' experience of
more than two decades in the trading business, along with its
established market position and strong customer base.

RATING SENSITIVITIES

Negative: Decline in the scale of operations along with the
weakening of the credit metrics or deterioration in the liquidity
position will be negative for the ratings.

Positive: An improvement in revenue and operating profitability,
leading to an improvement in the credit metrics, with the interest
coverage ratio rising above 2.0, will be positive for the ratings.

COMPANY PROFILE

RKIPL was incorporated in 1994 by Mr. Alok Kumar Kedia. It is
engaged in the trade of processed fruit pulp and is based out of
Muzaffarpur. It procures fruit pulp and concentrates and supplies
them to customers in states West Bengal, Odisha, and Bihar.

RAIGARH PROPERTIES: Insolvency Resolution Process Case Summary
--------------------------------------------------------------
Debtor: Raigarh Properties Private Limited
        1, Kyd Street, 2nd Floor
        Room No. 16A
        Kolkata 700016

Insolvency Commencement Date: February 27, 2020

Court: National Company Law Tribunal, Kolkata Bench

Estimated date of closure of
insolvency resolution process: August 24, 2020

Insolvency professional: Kamal Nayan Jain

Interim Resolution
Professional:            Kamal Nayan Jain
                         Klass Insolvency Resolution Professionals
                         Pvt. Ltd.
                         2, Lal Bazar Street
                         Todi Chambers
                         Room no. 204 & 205 2nd Floor
                         Kolkata 700001
                         E-mail: knjain@knjainco.com
                                 cirp.raigarhproperties@gmail.com

Last date for
submission of claims:    March 12, 2020


RATNAGIRI CHEMICALS: Insolvency Resolution Process Case Summary
---------------------------------------------------------------
Debtor: Ratnagiri Chemicals Private Limited
        611 & 612, Raheja Arcade
        Sector-11, CBD Belapur
        New Mumbai 400614
        Maharashtra

Insolvency Commencement Date: February 20, 2020

Court: National Company Law Tribunal, Mumbai Bench

Estimated date of closure of
insolvency resolution process: August 18, 2020
                               (180 days from commencement)

Insolvency professional: Mr. Durgesh Kumar Kabra

Interim Resolution
Professional:            Mr. Durgesh Kumar Kabra
                         C/o DMKH Insolvency Resolution Services
                             LLP
                         803/804 Ashok Heights
                         Old Nagardas X Road
                         Gundavali, Andheri (East)
                         Mumbai 400069
                         E-mail: durgeshkabra@gmail.com
                                 ratnagirichem.irp@gmail.com

Last date for
submission of claims:    March 11, 2020


RELIANCE COMMUNICATIONS: IRP Files Resolution Plan with NCLT
------------------------------------------------------------
Livemint.com reports that the insolvency resolution professional of
Reliance Communications Ltd on March 6 filed a resolution plan for
the company with the Mumbai bench of National Company Law Tribunal,
the erstwhile telecom firm said.

" . . . undersigned hereby informs that Resolution Professional has
duly filed the Resolution Plan as approved by the CoC (Committee of
Creditors) of each of the aforesaid companies with the Hon'ble
National Company Law Tribunal, Mumbai Bench on March 6, 2020 in
accordance with Section 30(6) of the Insolvency and Bankruptcy
Code, 2016," Reliance Communications (RCom) told exchanges in a
filing on March 7, Mint relays.

Earlier last week, the CoC had unanimously approved the resolution
plans provided by Reliance Jio Infcomm Ltd and UV Asset
Reconstruction Company (UVARC) for Reliance Communications Ltd, two
banking sources had told Mint.

Jio has offered around INR4,700 crore to buy tower and fiber assets
of RCom's subsidiary Reliance Infratel Ltd, while UVARC has bid
INR14,000 crore for spectrum, real estate assets as well as the
enterprise and data center businesses, held in Reliance
Communications Ltd and Reliance Telecom Ltd, the sources had said,
the report relays.

"In addition, the lenders will claw back the priority payments of
around INR4,300 crore made to Chinese and Indian lenders," one of
the sources said, adding that while INR3,000 crore will be clawed
back from Indian lenders, another INR1,300 crore will come from
Chinese banks.

A clawback provision is one where a liquidator can seek to recover,
or claw back, payments made to a creditor by the company or void
the transaction, the report notes.

However, despite the provision, loans of Chinese lenders will
reduce by nearly 65% to around INR4,000 crores from about INR12,000
crores, the source, as cited by Mint, said.

The 38 lenders of RComm will recover INR23,000 crore, which is more
than 70% of their outstanding of INR33,000 crore of secured debt,
the report adds.

                   About Reliance Communications

Based in Mumbai, India, Reliance Communications Ltd is a
telecommunications service provider. The Company operates through
two segments: India Operations and Global Operations. India
operations segment comprises wireless telecommunications services
to retail customers through global system for mobile communication
(GSM) technology-based networks across India; voice, long distance
services and broadband access to enterprise customers; managed
Internet data center services, and direct-to-home (DTH) business.
Global operations comprise Carrier, Enterprise and Consumer
Business units. It provides carrier's carrier voice, carrier's
carrier bandwidth, enterprise data and consumer voice services. The
Company owns and operates Internet protocol (IP) enabled
connectivity infrastructure, comprising over 280,000 kilometers of
fiber optic cable systems in India, the United States, Europe,
Middle East and the Asia Pacific region.  

As reported in the Troubled Company Reporter-Asia Pacific on  May
10, 2019, The Economic Times said the National Company Law Tribunal
on May 9 allowed Reliance Communications (RCom) to exclude the 357
days spent in litigation and admitted it for insolvency.  With
this, RCom, which owes over INR50,000 crore to banks, has become
the first Anil Ambani group company to be officially declared
bankrupt after the NCLT on May 9 superseded its board and appointed
a new resolution professional to run it and also allowed the
SBI-led consortium of 31 banks to form a committee of creditors.

SAMAK LANDSCAPE: Insolvency Resolution Process Case Summary
-----------------------------------------------------------
Debtor: Samak Landscape Private Limited
        130-A, Ground Floor, KH No. 412
        MIN. Sultanpur
        New Delhi 110030

Insolvency Commencement Date: February 26, 2020

Court: National Company Law Tribunal, New Delhi Bench-IV

Estimated date of closure of
insolvency resolution process: August 23, 2020
                               (180 days from commencement)

Insolvency professional: Manoj Kumar Anand

Interim Resolution
Professional:            Manoj Kumar Anand
                         2, Community Centre, 3rd Floor
                         Near PVR/McDonald, Naraina
                         New Delhi 110028
                         E-mail: anandmanoja@gmail.com
                                 cirpsamak@gmail.com

Last date for
submission of claims:    March 11, 2020


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


The instrument-wise rating actions are:

-- INR287.3 mil. Long-term loan (long-term) due on December 2021
     migrated to non-cooperating category with IND D (ISSUER NOT
     COOPERATING) rating;

-- INR150 mil. Fund-based working capital limits (long-term)
     migrated to non-cooperating category with IND D (ISSUER NOT
     COOPERATING) rating; and

-- INR20 mil. Non-fund-based working capital limits (short-term)
     migrated to non-cooperating category with IND D (ISSUER NOT
     COOPERATING) rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
March 7, 2019. Ind-Ra is unable to provide an update, as the agency
does not have adequate information to review the ratings.

COMPANY PROFILE

Formed in 2013, Sara Spintex India is promoted by Jalal Gilani and
Muniza Gilani. The company manufactures cotton yarn at its unit
located in Yavatmal, Maharashtra, which has an installed capacity
of 50,400 quintals per annum.

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

The instrument-wise rating action is:

-- INR100 mil. Fund-based working capital limit migrated to non-
     cooperating category with IND BB- (ISSUER NOT COOPERATING) /
     IND A4+ (ISSUER NOT COOPERATING) rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
March 6, 2019. Ind-Ra is unable to provide an update, as the agency
does not have adequate information to review the ratings.

COMPANY PROFILE

Ghaziabad-based STIPL manufactures mild steel ingots used for
manufacturing mild steel bars. The company's manufacturing unit,
located at Bazpur, Uttarakhand, has an installed capacity of 25,000
metric tons per annum.

SOLVEN POWER: Insolvency Resolution Process Case Summary
--------------------------------------------------------
Debtor: Solven Power Systems Private Limited

        Registered office:
        House No. 106, Shop No. 1
        Ground Floor Blk-C, Sector-8
        Rohini Delhi North West
        DL 110085

        Principal office:
        B1/E1, 2nd Floor, Rajendra House
        Mohan Co-operative Industrial Estate
        Mathura Road, New Delhi 110044

Insolvency Commencement Date: February 18, 2020

Court: National Company Law Tribunal, Delhi Bench

Estimated date of closure of
insolvency resolution process: August 16, 2020

Insolvency professional: Neeraj Parmar

Interim Resolution
Professional:            Neeraj Parmar
                         94, Pocket-4, Sector-11
                         Dwarka, New Delhi
                         National Capital Territory of Delhi
                         110075
                         E-mail: ip.neerajparmar@gmail.com
                                 cirp.solven@gmail.com

Last date for
submission of claims:    March 3, 2020


TUTICORIN COAL: Insolvency Resolution Process Case Summary
----------------------------------------------------------
Debtor: Tuticorin Coal Terminal Private Limited
        144, Jolly Maker Chambers II
        Nariman Point Mumbai 400021

           - and -

        NCB-II Berth, V O Chidambaranar Port Trust
        Bharathi Nagar, Tuticorin 628004

Insolvency Commencement Date: February 20, 2020

Court: National Company Law Tribunal, Mumbai Bench

Estimated date of closure of
insolvency resolution process: August 18, 2020

Insolvency professional: Dhiren S Shah

Interim Resolution
Professional:            Dhiren S Shah
                         B 102 Bhagirathi Niwas
                         Near Natraj Studio
                         Sir M V Road
                         Andheri (East)
                         Mumbai 400069
                         E-mail: dss@dsshah.in

Last date for
submission of claims:    March 11, 2020


WEST GUJARAT: Ind-Ra Affirms 'D' Non-Convertible Debentures Rating
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed West Gujarat
Expressway Limited's (WGEL) non-convertible debentures' (NCDs)
rating at 'IND D' as follows:

-- INR1,412.6 bil. (INR1,252.09 bil. outstanding on January 31,
     2020) Senior, secured, redeemable NCDs* (long-term) affirmed
     with IND D rating.

* Details in annexure

KEY RATING DRIVERS

The rating action reflects the persisting weakness in WGEL's credit
profile, which would hamper its ability to meet both its
operational and financial obligations (senior and unsecured loans)
from the existing cash flows in the medium term. The ratings also
factor in the absence of clarity on the rights of unsecured loans
to call an event of default.

WGEL defaulted on the payment of interest on NCDs due on February
28, 2019, despite the availability of sufficient cash (IL&FS
special purpose vehicles' interpretation of the National Company
Law Appellate Tribunal (NCLAT) ruling). Post the National Company
Law Appellate Tribunal's (NCLAT) proceedings in the 12 months ended
January 2020, WGEL was reclassified as a Green entity from Amber,
based on its debt-servicing ability. WGEL has been servicing debt
regularly from August 2019, as confirmed by the debenture holders;
however, the pending obligations of INR75 million of negative grant
payment to the National Highways Authority of India ('IND
AAA'/Stable) as of February 29, 2020, constrain the rating.

The NHAI had approved the company's request to pay the last
negative grant of INR525 million (earlier due in June 2019) in
three equal installments of INR175 million along with applicable
interest on June 30, 2019, September 30, 2019, and January 31,
2020. WGEL had paid two installments of the negative grant and a
part of the third installment until February 29, 2020. Despite the
extension, the company's delay in the payment of all the three
negative grants constrains the rating. According to the management,
the last negative grant was paid partially in February 2020, and
the balance will be paid in March 2020. Nevertheless, the delay
indicates stress in cash flows and is construed as a default in the
concession terms.

As part of the resolution of WGEL's debt, the sponsor loans
(unsecured) have been accommodated along with the secured loans and
the debt terms have been diluted (including reduced debt service
reserve account (DSRA) and minimum DSCR covenant). The cushion on
the operations and maintenance (O&M) budget has been eroded.

The cash flow subordination clause related to the unsecured loans
ensures that, in the event of insufficient cash flows, the secured
overdue amounts shall be paid first before making any payments to
the unsecured lenders. However, there is no clause that would
restrict unsecured lenders' right to declare an event of default in
case of the non-payment of debt dues in the amended financing
documents. Therefore, Ind-Ra has factored a consolidated debt
(rated debt + unsecured loans) for the computation of WGEL's debt
servicing obligation.

The second major maintenance (MM) of WGEL is almost over – only
minor works are pending, which will be completed in this fiscal,
according to the management and lenders. The company has been
charged with a penalty of INR101.1 million by the NHAI for the
delay in completing the first major maintenance. WGEL accepted the
same and made the payment in FY20. As per the management, no other
penalty has been levied by the NHAI. Also, the independent engineer
has recommended the rescheduling of the subsequent MM cycles in
accordance with the delayed completion of the first MM to avoid any
further penalty on the second and third MM.

As of January 31, 2020, the cash balance (including DSR and FD) was
INR213.85 million. However, given that some amount of MM work is
still pending, and the toll collection is muted, there is a high
probability of dipping into DSRA for meeting the financial
obligations.

RATING SENSITIVITIES

Positive: Future developments that may collectively lead to a
rating upgrade include:

  * The sustained maintenance of DSRA without any
deductions/depletion for the next six months
  * The completion of MM activity within the prescribed standards
without any cost overruns and penalties for delay

  Regular servicing of both secured and unsecured debt

COMPANY PROFILE

WGEL is a special purpose vehicle, set up to develop, design,
finance, construct, operate and maintain a 68km Jetpur Gondal and
Rajkot bypass section (National Highway 8B including Rajkot bypass)
in Gujarat. The project was awarded by National Highways Authority
of India ('IND AAA'/Stable)and involves widening the existing
Jetpur-Gondal section  (two to four laning, 26km), improving the
existing four-lane Gondal-Rajkot Section (32km), and widening the
existing Rajkot bypass (two to four laning, 10km).

YES BANK: Moody's Cuts Issuer Rating to Caa3, Still Under Review
----------------------------------------------------------------
Moody's Investors Service downgraded Yes Bank Limited's long-term
foreign currency issuer rating to Caa3 from B2. The ratings remain
under review, with the direction uncertain.

Moody's has also downgraded the bank's long-term foreign and local
currency bank deposit ratings to Caa1 from B2, and its foreign
currency senior unsecured MTN program rating to (P)Caa3 from (P)B2.
The ratings remain under review, with the direction uncertain.

In addition, Moody's has downgraded the bank's long-term domestic
and foreign currency Counterparty Risk Rating and long-term
Counterparty Risk Assessment to Caa1 from B1 and Caa1(cr) from
B1(cr) respectively. The ratings remain under review, with the
direction uncertain.

At the same time, Moody's has downgraded Yes Bank's Baseline Credit
Assessment and adjusted BCA to ca from caa2.

RATINGS RATIONALE

The downgrade of Yes Bank's issuer and senior unsecured MTN program
ratings to Caa3 from B2 and (P)Caa3 from (P)B2 respectively is a
result of an event of default triggered by the Reserve Bank of
India's (RBI) 30-day moratorium, which prevents Yes Bank from
making a full and timely payment to its senior creditors.

Despite the event of default, the Caa3 rating takes into account
Moody's expectation that although recovery rates for the banks'
senior creditors may be high given the close involvement of the
Indian authorities and stated intention to resolve the bank
quickly, the ultimate timing and form of eventual resolution
remains uncertain. Actions by the authorities to date have not
reduced the probability of default as evidenced by the moratorium
announcement, and highlights the continued uncertainty around
private sector bank resolutions in India and the recovery prospects
for senior creditors.

The downgrade of the bank's long term deposit rating to Caa1 from
B2 also reflects the RBI moratorium, which constitutes an event of
default. Nevertheless, Moody's expects there is a higher
probability of low loss rate for depositors and as a result Moody's
has differentiated the bank deposit ratings from the issuer rating,
which applies to non-deposit senior creditors. The assurance made
by the RBI to protect depositors' interests provides greater
certainty that the risk of losses to depositors is lower.

Yes Bank's long-term ratings remain under review with the direction
uncertain, reflecting Moody's expectation of a potential for
different outcomes. A prompt resolution of Yes Bank, that minimizes
losses to depositors and creditors could result in a stabilization
or upgrade of the bank's ratings. But, a protracted resolution that
extends the moratorium could result in lower recovery rates for the
bank's creditors and could lead to a further downgrade of the
bank's ratings.

That said, Yes Bank can continue to discharge its liabilities
arising from repurchase transactions (repo). However, the RBI
moratorium prevents the bank from making fully and timely payment
of some of its other operational liabilities, such as
uncollateralized derivatives obligations. As a result, Moody's has
downgraded the bank's CRR and CR Assessment to Caa1 from B1 and
Caa1(cr) from B1(cr) respectively.

The RBI action also confirms Moody's view that the bank's
standalone viability, in the absence of extraordinary support from
Indian authorities, is in question. This has led to the downgrade
of the bank's BCA to ca from caa2. Nevertheless, Moody's expects
high recovery prospects for the principal and interest on the
bank's deposits, as indicated by the final rating on those
instruments.

WHAT COULD CHANGE THE RATING UP

Moody's could upgrade the ratings or change the outlook to stable
if Indian authorities conclude a material capital raise,
reconstruct the bank's assets and liabilities, or amalgamate the
bank with another stronger bank, such that any action taken reduces
the risks of losses to senior creditors and depositors.

WHAT COULD CHANGE THE RATING DOWN

Moody's could further downgrade the bank's ratings if Indian
authorities are unable to resolve the bank within the planned
moratorium period or if the moratorium is extended, such that it
further impairs the bank's ability to make timely payments to
depositors and senior creditors. Any risk of a likelihood of
burden-sharing by Yes Bank's senior creditors in the bank's
resolution will lead to a downgrade of the bank's senior debt
ratings.

The principal methodology used in these ratings was Banks
Methodology published in November 2019.

Yes Bank Limited is headquartered in Mumbai and reported total
assets of INR3.5 trillion ($49.1 billion) at September 30, 2019.

List of affected ratings

Yes Bank Limited

  - Long-term foreign currency issuer rating downgraded to Caa3
from B2, on Review Direction Uncertain, Outlook is ratings under
review

  - Long-term foreign and local currency deposit ratings downgraded
to Caa1 from B2, on Review Direction Uncertain, Outlook is ratings
under review

  - Short-term foreign and local currency deposit ratings affirmed
at NP

  - Foreign currency senior unsecured MTN program rating downgraded
to (P)Caa3 from (P)B2, on Review Direction Uncertain

  - Baseline Credit Assessment (BCA) and adjusted BCA downgraded to
ca from caa2

  - Long-term Counterparty Risk Assessment (CR Assessment)
downgraded to Caa1(cr) from B1(cr), on Review Direction Uncertain

  - Short- term CR Assessment affirmed at NP(cr)

  - Long-term domestic and foreign currency counterparty risk
rating (CRR) downgraded to Caa1 from B1, on Review Direction
Uncertain

  - Short-term domestic and foreign currency CRR affirmed at NP

  - Outlook Action: Outlook is ratings under review

Yes Bank, IFSC Banking Unit Branch

  - Foreign currency senior unsecured MTN program rating downgraded
to (P)Caa3 from (P)B2, on Review Direction Uncertain

  - Foreign currency senior unsecured debt rating downgraded to
Caa3 from B2, on Review Direction Uncertain, Outlook is ratings
under review

  - Long-term CR Assessment downgraded to Caa1(cr) from B1(cr), on
Review Direction Uncertain

  - Short-term CR Assessment affirmed at NP(cr)

  - Long-term domestic and foreign currency CRR downgraded to Caa1
from B1, on Review Direction Uncertain

  - Short-term domestic and foreign currency CRR affirmed at NP

  - Outlook Action: Outlook is ratings under review



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

GARUDA INDONESIA: Virus Adds to Big Debt Payment Woes
-----------------------------------------------------
Harry Suhartono and Denise Wee at Bloomberg News report that the
coronavirus outbreak couldn't have come at a worse time for PT
Garuda Indonesia, pummeling demand at the flag carrier just as it
faces a debt bill for half a billion dollars.

Debt market concern about sagging travel demand and the impact of
financial market turmoil has caused Garuda's $500 million notes due
on June 3 to tumble to a record low of 55.3 cents on the dollar,
according to Bloomberg-compiled prices. The securities have dropped
5.9 cents this week after sinking 36 cents last week, the report
notes.

Garuda is discussing all available options on its outstanding debts
and aiming for a solution before any of those liabilities mature,
President Director Irfan Setiaputra said in a text message in
response to queries from Bloomberg.

According to Bloomberg, the virus epidemic is wreaking havoc on
airlines across the globe, and the Indonesian state-owned carrier
is no exception. Garuda slashed its international capacity by 30%
as of Feb. 17 compared with what it offered four weeks earlier,
resulting in a 12% decline in its total seats being offered,
Bloomberg discloses citing data from OAG Aviation Worldwide.

"Under a normal situation, the company's debt issue should not have
been a major problem," Bloomberg quotes Fahressi Fahamlesta, a
Jakarta-based analyst at PT Ciptadana Sekuritas Asia, as saying.
"But this outbreak of coronavirus has become a perfect storm for
the company resulting in slumping travel demand and a crashing
market which will make fundraising difficult."

Garuda's shares have dropped 44% this year after tumbling 38% in
February alone, its biggest monthly retreat ever, Bloomberg notes.

The airline has a history of defaults, the report says. It missed
payments during the Asian financial crisis in the late-1990s, when
the rupiah plunged. It also restructured its international and
local currency debt around 2010. Its total debt was $1.5 billion,
compared with cash and equivalents of $345.8 million as of Sept.
30, according to Bloomberg-compiled data.

Garuda will likely end up restructuring its debt for the third time
and if that happens, recovery on its bonds will "in all probability
be very low and involve meaningful haircuts," Deutsche Bank said in
a credit note sent on March 3, Bloomberg relays.

Even without the maturing debt, the carrier's new management might
have to thoroughly restructure its operations to deal with the
downturn from this coronavirus outbreak, according to aviation
analyst Gerry Soejatman.

"Garuda would need drastic measures to get through this one, that
includes fleet reduction and grounding of some aircraft," Bloomberg
quotes Soejatman as ssaying. "Even they don't have this pressure
from the debt repayment, these drastic measures are still needed."

Headquartered in Jakarta, Indonesia, government-owned airline PT
Garuda Indonesia -- http://www.garuda-indonesia.com/-- currently
has a fleet of about 77 aircraft offering service to some 27
domestic and 33 international destinations.  Under its Citilink
brand, it serves 10 other domestic routes.  Garuda also ships about
200,000 tons of cargo a month and operates a computerized tracking
system.



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

DOWSONS SHOES: To Shut Stores After 82 Years
--------------------------------------------
Stuff.co.nz reports that Christchurch company Dowsons Shoes is
shutting its stores for good after 82 years in business across the
South Island.

A message on the company's website said the business will cease
trading and will run a clearance sale at its remaining stores until
stocks run out, Stuff relays.

"Retail has changed dramatically over the years and that change
seems to be accelerating," it says.

"The family has made the decision to cease trading in Footwear in
2020. Retail has been good to us and it's time for us to hang up
the boots and move on to other things.

"To our customers and staff, Thank you for 82 years of memories."

The company's online shop has already closed.

According to Stuff, the five Dowsons Shoes stores left before the
closure announcement were in Nelson, Dunedin and Invercargill, and
at Church Corner and The Hub Hornby in Christchurch.

The company's website said Knox Dowson opened his first premises in
Ferry Rd, Christchurch, in 1938.

"During the Second World War, Knox diverted his efforts into
supporting the war effort by supplying troops with boots and shoes.
After the war, Knox saw an opportunity to begin selling footwear
from the front of his Ferry Rd Factory," it said.

The company began expanding through the South Island and Wellington
area in 1995.

Its Timaru branch closed in January, while the Blenheim store
closed in August last year, and the North Island's Lower Hutt
branch in 2011, Stuff discloses.

MTF RAMBLER 2019: Fitch Affirms BB+sf Rating on Class E Debt
------------------------------------------------------------
Fitch Ratings upgraded the ratings on seven tranches from three MTF
ABS Trusts and affirmed the ratings on ten tranches. The
transactions are securitisations backed by New Zealand automotive
loan receivables originated by Motor Trade Finance Ltd (MTF). The
notes were issued by Trustees Executors Limited in its capacity as
trustee of the respective trusts. Collateral balances for MTF
Torana Trust 2016, MTF Sierra Trust 2017 and MTF Rambler Trust 2019
were NZD51.5 million, NZD152.3 million and NZD277.2 million,
respectively, at the February 2020 payment date.

The upgrades on the notes of MTF Torana and MTF Sierra reflect
Fitch's revised cash flow modelling, which takes into account the
shorter remaining term of the transactions; asset performance that
is better than the base-case gross-loss expectations set at
closing; better recovery and net loss than expected at closing; and
increased credit enhancement. MTF Sierra also had a higher yield
modelled post the end of the revolving period.

Further upgrades to class B, C and D notes in MTF Torana and class
B and C notes in MTF Sierra are constrained by the transactions'
documented counterparty triggers.

RATING ACTIONS

MTF Torana Trust 2016

Class A NZTTMTFAT013; LT AAAsf Affirmed; previously at AAAsf

Class B NZTTMTFAT021; LT AA+sf Affirmed; previously at AA+sf

Class C NZTTMTFAT039; LT AA+sf Affirmed; previously at AA+sf

Class D NZTTMTFAT047; LT AA+sf Upgrade;  previously at AA-sf

Class E NZTTMTFAT054; LT AAsf Upgrade;   previously at Asf

Class F;              LT A+sf Upgrade;   previously at BBBsf

MTF Sierra Trust 2017

Class A NZSTMTFAT015; LT AAAsf Affirmed; previously at AAAsf

Class B NZSTMTFAT023; LT AA+sf Affirmed; previously at AA+sf

Class C NZSTMTFAT031; LT AA+sf Upgrade;  previously at AA-sf

Class D NZSTMTFAT049; LT AAsf Upgrade;   previously at Asf

Class E NZSTMTFAT056; LT Asf Upgrade;    previously at BBB+sf

Class F;              LT A-sf Upgrade;   previously at BBsf

MTF Rambler Trust 2019

Class A NZRAMTFAT017; LT AAAsf Affirmed;  previously at AAAsf

Class B NZRAMTFAT025; LT AAsf Affirmed;   previously at AAsf

Class C NZRAMTFAT033; LT Asf Affirmed;    previously at Asf

Class D NZRAMTFAT041; LT BBB+sf Affirmed; previously at BBB+sf

Class E NZRAMTFAT058; LT BB+sf Affirmed;  previously at BB+sf

KEY RATING DRIVERS

Obligor Default Risk: Obligor default and recovery rates are a key
assumption in Fitch's quantitative analysis. The performance of the
underlying assets has been strong, gross defaults have been in line
with Fitch's initial base-case expectations while recoveries and
net losses have been better than expectations set at closing.

At end-January 2020, 30+ days arrears at 1.2% for MTF Sierra and
0.7% for MTF Rambler remained below Fitch's 4Q19 Dinkum ABS Index
of 1.9%; 30+ days arrears for MTF Torana, at 2.0%, were slightly
higher than the Dinkum Index, but were lower as a balance since the
last review. In addition, the higher arrears have not translated
into higher losses. Recoveries have been better than Fitch's
initial expectations and are attributable to MTF's unique recourse
model for which no credit was given. Cumulative recoveries at the
last payment date were approximately 62% for MTF Rambler, 77% for
MTF Sierra and 92% for MTF Torana, resulting in minimal net losses
that were below Fitch's base cases to date, at 0.01%, 0.47% and
0.24% for MTF Rambler, MTF Sierra and MTF Torana, respectively.

Fitch has revised the base-case gross-loss expectations for MTF
Torana and MTF Sierra based on the defaults forecast to occur over
the remaining term to maturity. The base-case gross default
expectation over the remaining life applied in Fitch's cash flow
modelling is 1.80% for MTF Torana and 2.12% for MTF Sierra; the
higher default expectation for MTF Sierra reflects its longer
remaining term to maturity.

Fitch expects stable asset performance supported by sustained
economic growth in New Zealand. Fitch forecasts steady GDP growth
of 2.4% in 2020 and stable labour markets, which, together with low
interest rates, support the Outlook for the rated notes.

Cash Flow Dynamics: Fitch completed full cash flow modelling for
MTF Torana and MTF Sierra and determined that full and timely
payment of principal and interest was made to the notes in all
scenarios at the relevant rating levels. No cash-flow modelling was
performed for MTF Rambler, as it is still in the initial two-year
revolving period and none of the variables affecting transaction
performance have changed beyond that expected at closing. Credit
enhancement is also unchanged. Furthermore, there have been no
structural changes, material changes in asset composition or breach
of any warehouse covenants that would affect the rating.

Structural Risk: Structural risks have been evaluated in the
initial transaction analysis through the review of transaction
documentation, legal opinion and structural features. There have
been no material changes to any transaction since closing.

Counterparty Risk: Counterparty risk was evaluated in the initial
transaction analysis through the review of transaction
documentation, legal opinions and structural features. There have
been no changes to any transaction counterparties since closing.
Documented counterparty triggers constrain the rating of the class
B notes for all trusts to a maximum achievable rating of 'AA+sf'.

Servicer, Operational Risk: All assets were originated by MTF,
which demonstrates adequate capability as originator, underwriter
and servicer, as evidenced by the historical delinquency and loss
performance of existing securitised trusts. Fitch undertook an
onsite operational review and found that the operations of the
originator and servicer were comparable with those of other auto
and equipment lenders in New Zealand.

Rated Above Sovereign: Structured finance notes can be rated up to
six notches above New Zealand's Long-Term Local-Currency Issuer
Default Rating of 'AA+', supporting the 'AAAsf' rating on the class
'A' notes.

RATING SENSITIVITIES

Unanticipated increases in the frequency of defaults and loss
severity on defaulted receivables could produce loss levels higher
than Fitch's base case, which is likely to result in a decline in
credit enhancement and remaining loss-coverage levels available to
the notes. Fitch does not expect the ratings to be affected by any
foreseeable change in performance. The prospect of downgrade is
remote, given the level of subordination to all rated notes and
transaction performance.

Fitch conducted sensitivity analysis by increasing gross default
levels and decreasing recovery rates over the life of the
transaction.

The class B, C and D notes in MTF Torana trust and class B and C
notes in MTF Sierra trust are constrained to a maximum achievable
rating of 'AA+sf' due to the documented counterparty triggers.

MTF Torana Trust 2016

Notes class: A/B/C/D/E/F

Current rating: AAAsf/AA+sf/AA+sf/AA+sf/AAsf/A+sf

Impact on note ratings of increased defaults:

Increase defaults by 10%: AAAsf/AA+sf/AA+sf/AA+sf/AA-sf/Asf

Increase defaults by 25%: AAAsf/AA+sf/AA+sf/AA+sf/A+sf/A-sf

Increase defaults by 50%: AAAsf/AA+sf/AA+sf/AA-sf/A-sf/BBBsf

Impact on note ratings of decreased recoveries:

Reduce recoveries by 10%: AAAsf/AA+sf/AA+sf/AA+sf/AA-sf/Asf

Reduce recoveries by 25%: AAAsf/AA+sf/AA+sf/AA+sf/AA-sf/Asf

Reduce recoveries by 50%: AAAsf/AA+sf/AA+sf/AA+sf/A+sf/A-sf

Impact on note ratings of multiple factors:

Increase defaults by 10%; reduce recoveries by 10%:
AAAsf/AA+sf/AA+sf/AA+sf/A+sf/Asf

Increase defaults by 25%; reduce recoveries by 25%:
AAAsf/AA+sf/AA+sf/AAsf/Asf/BBB+sf

Increase defaults by 50%; reduce recoveries by 50%:
AAAsf/AA+sf/AAsf/A+sf/BBBsf/BBB-sf

MTF Sierra Trust 2017

Note class: A/B/C/D/E/F

Current rating: AAAsf/AA+sf/AA+sf/AAsf/Asf/A-sf

Impact on note ratings of increased defaults:

Increase defaults by 10%: AAAsf/AA+sf/AA+sf/AA-sf/A-sf/BBB+sf

Increase defaults by 25%: AAAsf/AA+sf/AAsf/A+sf/BBB+sf/BBBsf

Increase defaults by 50%: AAAsf/AA+sf/AA-sf/A-sf/BBBsf/BBB-sf

Impact on note ratings of decreased recoveries:

Reduce recoveries by 10%: AAAsf/AA+sf/AA+sf/AA-sf/Asf/BBB+sf

Reduce recoveries by 25%: AAAsf/AA+sf/AA+sf/A+sf/A-sf/BBB+sf

Reduce recoveries by 50%: AAAsf/AA+sf/AAsf/Asf/BBB+sf/BBB-sf

Impact on note ratings of multiple factors:

Increase defaults by 10%; reduce recoveries by 10%:
AAAsf/AA+sf/AAsf/AA-sf/A-sf/BBBsf

Increase defaults by 25%; reduce recoveries by 25%:
AAAsf/AA+sf/AA-sf/A-sf/BBBsf/BBB-sf

Increase defaults by 50%; reduce recoveries by 50%:
AAAsf/AAsf/A-sf/BBBsf/BB+sf/BBsf

ROSS ASSET: Investors Lay Out Claim against ANZ Bank
----------------------------------------------------
Radio New Zealand reports that investors from the collapsed Ross
Asset Management company have had their turn in court on March 3 as
their bid to sue the ANZ Bank wrapped up.

ANZ Bank is at the High Court in Wellington facing a suit from 554
former investors who claim it either knew or should have known that
Wellington financial adviser David Ross was operating a Ponzi
scheme, RNZ says.

Wellington financial adviser David Ross was jailed in 2013 for a
fraud that left investors NZD115 million out of pocket.

According to RNZ, lawyers for ANZ on March 2 told the High Court in
Wellington the claim lacked specifics and should not proceed to
trial.

RNZ relates that the investors' lawyer Justin Smith said the claim
was clear and began his submission by telling the court the bank
knew money from the client account was to be held for client
purposes only.

He said the bank should have acted when it saw that money being
used for other purposes, and referred to a raft of transactions to
illustrate the point, RNZ relays.

"Now we have these clients of RAM [Ross Asset Management] paying
RAM's rent -- NZD7,900, bank fees again, wages again, paying for
the BMW again, again RAM's rent -- NZD9,400, Mr and Mrs Ross get
NZD881 . . . somebody's credit cards get paid."

Other expenses included alcohol and IT software, the report says.

"We are alleging that the bank knew Mr Ross or his company held
money on trust for beneficiaries and that he was spending it on
things that had precisely nothing to do with anything for which
those funds were held on trust [for] and that the bank knew it."

He said a dishonest assistance allegation only required proof that
the bank failed to stop funds it knew were not supposed to be
spent.

"That means that you have failed to draw the dots, failed to infer
. . . but if the standard is that as a reasonable and honest banker
in those circumstances you ought to join the dots or that there is
an implication of an unauthorised payment -- then you are liable."

He said the fact the funds were being used for dishonest reasons
was merely a deeper permutation, RNZ relates.

RNZ says Mr. Smith also read out a number of excerpts from
documents and emails obtained by the Financial Markets Authority
related to the operation of the Ross accounts, which are suppressed
by the court, to hammer his point home about why the bank was
liable for dishonest assistance.

Those documents were the subject of a lengthy legal battle, which
almost went all the way to the Supreme Court as ANZ fought against
their release, relays RNZ.

According to the report, ANZ's lawyer Neil Campbell ended
proceedings by again claiming the case lacked specifics around the
plea, and said those particulars were required for such serious
allegations.

He asked the "ought to have known" aspect of the claim be struck
out at a minimum and that the court not include the suppressed
documents when making its decision.

The court has reserved its decision, RNZ notes.

                         About Ross Asset

As reported in the Troubled Company Reporter-Asia Pacific on Nov.
8, 2012, the High Court appointed PricewaterhouseCoopers partners
John Fisk and David Bridgman as Receivers and Managers to Ross
Asset Management Limited and nine other associated entities
following application by the Financial Markets Authority.  The
associated entities are:

     * Bevis Marks Corporation Limited;
     * Dagger Nominees Limited;
     * McIntosh Asset Management Limited;
     * Mercury Asset Management Limited;
     * Ross Investment Management Limited;
     * Ross Unit Trusts Management Limited;
     * United Asset Management Limited;
     * Chapman Ross Trust;
     * Woburn Ross Trust;
     * Ace Investments Limited or Ace Investment Trust Limited or
       Ace Investment Trust;
     * Vivian Investments Limited; and
     * Ross Units Trusts Limited.

The Receivers and Managers have also been appointed to Wellington
investment adviser David Robert Gilmore Ross personally.

Mr. Fisk said they have identified investments of nearly NZD450
million held on behalf of more than 900 investors across 1,720
individual accounts.

The High Court in Dec. 17, 2012, ordered John Fisk and David
Bridgman be appointed liquidators of these companies:

   -- Ross Asset Management Limited (In Receivership);
   -- Bevis Marks Corporation Limited (In Receivership);
   -- McIntosh Asset Management Limited (In Receivership);
   -- Mercury Asset Management Limited (In Receivership);
   -- Dagger Nominees Limited (In Receivership);
   -- Ross Investment Management Limited (In Receivership);
   -- Ross Unit Trust Management Limited (In Receivership); and
   -- United Asset Management Limited (In Receivership).



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

RURAL BANK OF TIBIAO: Central Bank Orders Closure
-------------------------------------------------
The Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP)
prohibited Rural Bank of Tibiao (Antique), Inc. from doing business
in the Philippines through MB Resolution No. 344.A dated March 5,
2020 which also directed the Philippine Deposit Insurance
Corporation (PDIC) as Receiver to proceed with the takeover and
liquidation of Rural Bank of Tibiao (Antique), Inc. PDIC took over
the bank on March 6, 2020.

Rural Bank of Tibiao (Antique), Inc. is a single-unit rural bank
located on Gov A. T. Lim Avenue, Poblacion, Tibiao, Antique.

Latest available records show that as of December 31, 2019, Rural
Bank of Tibiao (Antique), Inc. has 969 deposit accounts with total
deposit liabilities of PHP30.35 million, of which 99.36% or
PHP30.16 million are insured deposits.

PDIC assured depositors that all valid deposits and claims shall be
paid up to the maximum deposit insurance coverage of PHP500,000.00.
Individual account holders of valid deposits with balances of
PHP100,000.00 and below do not need to file deposit insurance
claims, provided they have no outstanding obligations or have not
acted as co-makers of obligations with Rural Bank of Tibiao
(Antique), Inc. These individual depositors must ensure that they
have complete and updated addresses with the bank. PDIC
representatives will be distributing Mailing Address Update Forms
at the bank premises and depositors may submit the forms until
March 12, 2020.

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

PDIC also reminded borrowers to continue paying their loan
obligations with the closed Rural Bank of Tibiao (Antique), Inc.
and to transact only with designated PDIC representatives at the
bank premises.

For more information on the requirements and procedures for filing
of claims for deposit insurance and settlement of loan obligations,
all depositors and borrowers of the bank are enjoined to attend the
Depositors-Borrowers' Forum on March 18, 2020. Details will be
posted at the bank premises and in other public places.

Pursuant to Section 13 of R.A. 3591, as amended, PDIC shall
likewise accept Letters of Intent from interested banks and
non-bank institutions for possible Purchase of Assets and
Assumption of Liabilities (P&A) as a mode of liquidating Rural Bank
of Tibiao (Antique), Inc. within sixty (60) days from PDIC takeover
subject to compliance with the requirements prescribed under the
Guidelines in Pre-qualifying Proponents and Evaluating the
Proposals for Purchase of Assets and Assumption of Liabilities Mode
of Liquidating Closed Banks posted in the PDIC website.

All stakeholders and interested parties may communicate with PDIC
Public Assistance personnel stationed at the bank premises or call
the PDIC Public Assistance Hotline during office hours at (02)
8841-4141 or the Toll Free Hotline at 1-800-1-888-PDIC (7342) for
those outside Metro Manila. Inquiries may also be sent by e-mail to
pad@pdic.gov.ph or via private message to the official PDIC
Facebook account at www.facebook.com/OfficialPDIC.



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

CH OFFSHORE: Files Notice of 3 Years of Consecutive Losses
----------------------------------------------------------
Sharon See at The Business Times reports that CH Offshore filed a
notice on March 9 of three years of consecutive losses.

According to the its unaudited financial statement for the
financial year ended Dec. 31, 2019, it recorded a loss after income
tax of US$14.06 million for FY2019, BT discloses.

BT relates that the mainboard-listed firm said the losses were
mainly due to losses from an associate company and a provision for
brokers' commission following the result of an arbitration
proceeding.

In August 2019, a claim of US$3.7 million was made against CH
Offshore, a subsidiary of oilfield services provider Baker
Technology, following an arbitration brought about by three ship
brokers for unpaid brokers' commissions and damages, BT recalls.

The report relates that the final amount due to the claimants will
be determined following the service of further submissions to the
tribunal, the company said.

Under listing rules on the Singapore Exchange (SGX),
mainboard-listed companies will be placed on the watch list under
the financial entry criteria if they record pre-tax losses for the
three most recently completed consecutive financial years and also
fail to maintain an average daily market cap of at least S$40
million over the last six months, the report notes.

CH Offshore said its latest six-month average daily market
capitalisation as at Feb. 17, 2020 is SGD39.9 million.

BT adds that the company said it will make an immediate
announcement should it be notified by SGX that it will be placed on
the watch list.

CH Offshore Ltd. (CHO) provides marine support services. The
Company offers towing, anchor-handling, dry bulk cargoes, emergency
response, rescue, fire-fighting, and field support services. CHO
serves customers worldwide.



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

S. KOREA: Japan's Entry Restrictions Deal Bigger Blow to Airlines
-----------------------------------------------------------------
Yonhap News Agency reports that Japan's entry restrictions for
visitors from South Korea are dealing another blow to airlines and
travel agencies already hit by the fast-spreading coronavirus
outbreak, the companies said on March 6.

According to Yonhap, local airlines and travel agencies have been
struggling with a sharp decline in air travel demand for more than
a month after South Korea's first confirmed COVID-19 case was
reported on Jan. 20.

Adding to their woes, Japan announced March 5 that visitors from
South Korea and China will be requested to be quarantined at
designated facilities for two weeks and to refrain from using
public transportation, the report says. The restriction will be
implemented from March 9 through the end of this month. Japan also
plans to suspend the 90-day visa-free entry program for South
Koreans during the same period, according to diplomatic sources.

In response to Tokyo's new entry restrictions, South Korea said
March 6 it will suspend a visa-free entry program for Japanese
nationals from March 9, Yonhap relates.

According to Yonhap, the move prompted Korean Air Lines Co., the
country's biggest airline and national flag carrier, to suspend 16
of its flights on 17 routes, except for the Incheon-Narita route,
to the neighboring country starting March 9.

Yonhap relates that Asiana Airlines Inc., South Korea's
second-biggest airline, said it will suspend all of its flights to
Japan from March 9-31 due to Japan's entry restrictions. It
previously operated 11 routes to eight Japanese cities.

The two full-service carriers have continued to reduce or suspend
flights on domestic and international routes since February, the
report notes.

Korean Air said 80 percent of its overall flights were not in
operation as of March 2, Yonhap relates. It had provided passenger
and cargo carrying services to 115 cities in 44 countries before
the coronavirus hit.

Jeju Air Co., the country's largest low-cost carrier, said it will
continue to serve two routes from Incheon to Tokyo and Osaka,
Yonhap relays. Thirteen out of its 15 routes to Japan are not in
operation.

"We have made the decision as there is travel demand to the cities
due mainly to business reasons, though passengers will have to
undergo a two-week quarantine upon arrival in Japan," Yonhap quotes
a Jeju Air spokesman as saying.

As of March 6, South Korea had reported 6,593 confirmed cases of
the novel coronavirus and 42 deaths. At least 100 countries and
territories plan to enforce or are imposing entry restrictions on
visitors from South Korea.

Six other budget carriers -- Jin Air, Air Busan, Air Seoul, Eastar
Jet, T'way and Fly Gangwon -- have already suspended all or most of
their flights on international routes, Yonhap discloses. Most of
them have entered an emergency management system to stay afloat.

No flights to Japan from the country's seven budget carriers will
be available from March 9, adds Yonhap.

Among industries affected by the virus outbreak, travel agencies
are also bearing the brunt, Yonhap notes.

According to Yonhap, most local travel agencies are deeply
concerned about poor earnings results for the first quarter and a
forced restructuring as bookings for overseas travel have fallen to
rock bottom this month.

"The company asked all of its 5,000 employees to work for three
days a week in March as there are no flight bookings for domestic
and overseas travel," the report quotes Lee Jae-min, who runs a
Hana Tour travel agency in Seoul, as saying.

Travel agencies -- which mainly handle travel packages, business
trips for local companies and cruise travel products -- will suffer
the most from the coronavirus fallout in terms of business results,
Lee said, Yonhap relays.

The Korea Association of Travel Agents, which represents 1,200 out
of the country's 18,000 travel companies, is concerned that if
airlines continue to suspend flights, many agencies will end up
going bankrupt, KATA spokesperson Koo Jeong-hwan said, according to
Yonhap.

"The airline and travel businesses are not alone. The virus
outbreak is having negative implications for related industries --
hotels, duty free shops and restaurants, to name just a few," the
spokesperson said.

KATA recently called for financial support from the government as
their members badly need to maintain their workforce because the
travel business, unlike manufacturers, depends heavily on
experienced human resources, he said, Yonhap relays.



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

[*] BOND PRICING: For the Week March 2, 2020 to March 6, 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.



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