/raid1/www/Hosts/bankrupt/TCRAP_Public/200609.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, June 9, 2020, Vol. 23, No. 115
Headlines
A U S T R A L I A
FE INVESTMENTS: S&P Withdraws 'D' LT/ST Issuer Credit Ratings
LA TROBE 2017-2: Moody's Cuts Class F Notes to 'B1'
POSITIVE EXISTENCE: Second Creditors' Meeting Set for June 15
RABCO PLANT: Second Creditors' Meeting Set for June 16
REDZED TRUST 2017-2: Moody's Cuts Class F Notes to 'B2'
C H I N A
BAOSHANG BANK: Scandal Takes Down Yet Another Official
CENTRAL CHINA REAL: Fitch Rates Proposed USD Senior Notes 'BB-'
LUCKIN COFFEE: Boss to Face Criminal Charges for Financial Fraud
I N D I A
BISWAJANANI COLD: CRISIL Moves B+ Debt Ratings to Not Cooperating
CHANDI CHARAN: CRISIL Moves 'B' Debt Ratings to Not Cooperating
DIVYA JYOTI: CRISIL Keeps 'D' Debt Ratings in Not Cooperating
DUROPLY INDUSTRIES: CRISIL Moves B+ Debt Ratings to Not Coop.
H R V GEMS: Ind-Ra Moves BB- LT Issuer Rating to Non-Cooperating
JAI GURUDEV: CRISIL Migrates 'B' Debt Ratings to Not Cooperating
JAI RAVECHI: CRISIL Migrates B Debt Ratings to Not Cooperating
JENAM ENTERPRISES: CRISIL Moves D Debt Ratings to Not Cooperating
JET AIRWAYS: Receives Fresh EOIs from Suitors
K T VARGHESE: CRISIL Migrates B- Debt Ratings to Not Cooperating
KEROS STONE: CRISIL Migrates 'D' Debt Ratings to Not Cooperating
KISSAN RICELAND: CRISIL Moves 'D' Debt Ratings to Not Cooperating
LOKESH INDUSTRIAL: CRISIL Assigns B- Rating to INR10cr Cash Debt
M.S. LUVISH: Ind-Ra Assigns 'BB' LT Issuer Rating, Outlook Stable
MALAR TEXTILES: CRISIL Moves B- INR8cr Debt Rating to Not Coop.
MATHURAM SWASTHYA: Ind-Ra Keeps 'B+' Loan Rating in NonCooperating
MBS SERVICES: Ind-Ra Moves BB+ LT Issuer Rating to Non-Cooperating
MINI DIAMONDS: CRISIL Keeps 'D' Debt Ratings in Not Cooperating
MSR SEA: CRISIL Migrates 'B+' Debt Ratings to Not Cooperating
NISHA ENTERPRISES: CRISIL Moves B+ INR7cr Debt Rating to Not Coop.
PHADNIS CLINIC: Ind-Ra Assigns B+ LT Issuer Rating, Outlook Stable
POLY LOGIC: Insolvency Resolution Process Case Summary
PR CARS: CRISIL Migrates B Debt Ratings to Not Cooperating
QUANTAM AGROTECH: CRISIL Moves B- Debt Ratings to Not Cooperating
R.J.S. STEELS: CRISIL Migrates B+ Debt Ratings to Not Cooperating
RAAJCO SPINNERS: Ind-Ra Lowers Long Term Issuer Rating to 'BB-'
RAJIV PETROCHEMICALS: Ind-Ra Hikes LongTerm Issuer Rating to 'BB'
RAVINDRA BHARATHI: Ind-Ra Moves D Issuer Rating to Non-Cooperating
RSI GROUP: CRISIL Migrates 'B+' Debt Ratings to Not Cooperating
RUBBER O: CRISIL Migrates 'B+' Debt Ratings to Not Cooperating
SAFAL FLEXIBOND: CRISIL Moves 'D' Debt Ratings to Not Cooperating
SATYAM AGRO: CRISIL Migrates 'D' Debt Ratings to Not Cooperating
SATYAM EXIMTEX: CRISIL Moves D INR50cr Debt Rating to Not Coop.
SFPL CROP: CRISIL Moves D INR7.5cr Debt Rating to Not Cooperating
SHANTI COLD: CRISIL Migrates 'B-' Debt Ratings to Not Cooperating
SHELL APPARELS: Ind-Ra Lowers Long Term Issuer Rating to 'BB+'
SHIVA SHREE: CRISIL Migrates 'D' Debt Ratings to Not Cooperating
SHREE TRIBHUVAN: Ind-Ra Lowers Long Term Issuer Rating to 'B+'
SOVA ELECTROCASTING: CRISIL Moves B INR25cr Debt Rating to Not Coop
VARDHMAN INDUSTRIES: CRISIL Keeps 'D' Debt Ratings in Not Coop.
J A P A N
[*] JAPAN: 20% of Restaurants May Fail Amid Coronavirus Pandemic
P H I L I P P I N E S
VICTORIA COURT: To Shutter Some Branches Due to Pandemic
S I N G A P O R E
HYFLUX LTD: Unit Gets Notice of Termination for Algerian Contract
T H A I L A N D
THAI AIRWAYS: Government Panel Step Up to Help Carrier
X X X X X X X X
[*] BOND PRICING: For the Week June 1, 2020 to June 5, 2020
- - - - -
=================
A U S T R A L I A
=================
FE INVESTMENTS: S&P Withdraws 'D' LT/ST Issuer Credit Ratings
-------------------------------------------------------------
S&P Global Ratings said it has withdrawn its 'D' long- and
short-term issuer credit ratings on FE Investments Ltd. (FEI), a
New Zealand-based nonbank financier.
S&P Global Ratings considers that it now has insufficient
information to continue the surveillance of the ratings on FEI.
Consequently, S&P has withdrawn its ratings on the entity.
Prior to the withdrawal, S&P's ratings on FEI were 'D' as it
understands that the company remains in receivership. S&P lowered
its ratings on FEI to 'D' on April 6, 2020, following the placement
of the company into receivership.
LA TROBE 2017-2: Moody's Cuts Class F Notes to 'B1'
---------------------------------------------------
Moody's Investors Service has downgraded the ratings on two classes
of notes issued by La Trobe Financial Capital Markets Trust 2017-2
and La Trobe Financial Capital Markets Trust 2019-2.
The affected ratings are as follows:
Issuer: La Trobe Financial Capital Markets Trust 2017-2
Class F, Downgraded to B1 (sf); previously on Sep 22, 2017
Definitive Rating Assigned Ba3 (sf)
Issuer: La Trobe Financial Capital Markets Trust 2019-2
Class F Notes, Downgraded to B2 (sf); previously on Oct 16, 2019
Definitive Rating Assigned B1 (sf)
RATINGS RATIONALE
The downgrades were prompted by the correction of model input
errors related to the pro-rata principal amortisation conditions
and the retention amount ledger of the affected transactions.
At the time the ratings were assigned for both transactions,
Moody's incorrectly modelled the retention amount ledger
sub-trigger which affected the step-down conditions for pro-rata
principal amortisation. The retention amount ledger sub-trigger was
mistakenly modelled such that it would be always be satisfied. As a
result, principal repayments were modeled using a pro-rata
repayment profile among the rated notes longer than otherwise would
have been the case. In addition, for La Trobe 2017-2, the balance
of the retention amount ledger was incorrectly modeled at a fixed
level, resulting in an understatement of the retention amount
ledger which can be used to cover pool losses.
Its rating downgrade reflects the negative effect on the two
affected Class F notes of the correction of the pro-rata principal
repayment conditions. For Class F notes of La Trobe 2017-2, the
rating action also reflects corrected modeling of the retention
amount ledger, as well as the correction of a model input error on
the yield enhancement ledger which did not have a rating impact.
La Trobe Financial Capital Markets Trust 2017-2
Since closing, the note subordination available for the Class F
notes has increased to 2% from 1%.
As of April 2020, 10.5% of the outstanding pool was 30-plus day
delinquent, and 5.7% was 90-plus day delinquent. The portfolio has
incurred AUD468,930 of losses since closing, which has been covered
by excess spread.
Based on the observed performance and outlook, Moody's has revised
its expected loss assumption to 2.9% of the outstanding pool by
projecting the future defaults based on a roll rate analysis on
delinquent and defaulted loans.
Moody's has maintained its MILAN CE assumption of 11.9% since the
time of the last rating action in March 2019, based on the current
portfolio characteristics.
La Trobe Financial Capital Markets Trust 2019-2
Since the transaction closed in October 2019, the note
subordination available for the Class F Notes has increased to 0.5%
from 0.4%.
As of April 2020, 3.6% of the outstanding pool was 30-plus day
delinquent, and 1.2% was 90-plus day delinquent. The portfolio has
incurred no losses to date.
Based on the observed performance and outlook, Moody's has revised
its expected loss assumption to 1.7% of the outstanding pool by
projecting the future defaults based on a roll rate analysis on
delinquent and defaulted loans.
Moody's has maintained its closing MILAN CE assumption of 9.5%,
based on the current portfolio characteristics.
The transactions are Australian residential mortgage-backed
securities originated by La Trobe Financial Services Pty Limited,
an Australian non-bank mortgage lender. The portfolios consist of
prime, near-prime and non-conforming mortgage loans, partly
including loans extended to borrowers with impaired credit
histories or made on an alternative documentation basis.
Moody's analysis has considered the increased uncertainty relating
to the effect of the coronavirus outbreak on the Australian
economy, as well as the effects that government measures to contain
the virus will have on the performance of the portfolios.
Moody's regards the coronavirus outbreak as a social risk under its
environmental, social and governance framework, given the
substantial implications for public health and safety. It is a
global health shock, which makes it extremely difficult to provide
an economic assessment and thus the degree of uncertainty around
Moody's forecasts is unusually high.
The principal methodology used in these ratings was Moody's
Approach to Rating RMBS Using the MILAN Framework published in May
2020.
Factors that would lead to an upgrade or downgrade of the ratings:
Factors that could lead to an upgrade of the ratings include (1)
performance of the underlying collateral that is better than
Moody's expectations and (2) an increase in credit enhancement
available for the notes.
Factors that could lead to a downgrade of the ratings include (1)
performance of the underlying collateral that is worse than Moody's
expectations, (2) a decrease in the credit enhancement available
for the notes and (3) a deterioration in the credit quality of the
transaction counterparties.
POSITIVE EXISTENCE: Second Creditors' Meeting Set for June 15
-------------------------------------------------------------
A second meeting of creditors in the proceedings of Positive
Existence Personal Training has been set for June 15, 2020, at 2:00
p.m. via teleconference.
The purpose of the meeting is (1) to receive the report by the
Administrator about the business, property, affairs and financial
circumstances of the Company; and (2) for the creditors of the
Company to resolve whether the Company will execute a deed of
company arrangement, the administration should end, or the Company
be wound up.
Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by June 12, 2020, at 5:00 p.m.
Francis Jude O'Neill and David Michael Stimpson of SV Partners was
appointed as administrator of Positive Existence on May 11, 2020.
RABCO PLANT: Second Creditors' Meeting Set for June 16
------------------------------------------------------
A second meeting of creditors in the proceedings of Rabco Plant
Hire Pty Ltd, formerly trading as Rabco Resource Recovery, has been
set for June 16, 2020, at 11:00 a.m. via virtual meeting.
Details of how to join the meeting via the Zoom application with
the login details:
Zoom Meeting URL:
https://zoom.us/j/91588611360?pwd=MGV2eDlvQ3dFbmVQeVFYcW40aVJqQT09
You will be asked to enter the following information in order to
join the Zoom Meeting:
Meeting ID:915 8861 1360
Meeting Password: 940195
For Teleconference facilities please dial the following number by
your location:
(03) 7018 2005
(07) 3185 3730
(08) 6119 3900
(08) 7150 1149
(02) 8015 6011
You will be asked to enter the following information in order to
join the Meeting via the teleconference facility:
Meeting ID: 915 8861 1360
Meeting Password: 940195
The purpose of the meeting is (1) to receive the report by the
Administrator about the business, property, affairs and financial
circumstances of the Company; and (2) for the creditors of the
Company to resolve whether the Company will execute a deed of
company arrangement, the administration should end, or the Company
be wound up.
Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by June 15, 2020, at 12:00 p.m.
Nick Combis of Vincents Chartered Accountants was appointed as
administrator of Rabco Plant on
May 12, 2020.
REDZED TRUST 2017-2: Moody's Cuts Class F Notes to 'B2'
-------------------------------------------------------
Moody's Investors Service has taken rating actions on five classes
of notes issued by RedZed Trust Series 2017-2, RedZed Trust Series
2018-1, and RedZed Trust Series 2019-1.
The affected ratings are as follows:
Issuer: RedZed Trust Series 2017-2
Class F, Downgraded to B2 (sf); previously on Dec 6, 2017
Definitive Rating Assigned B1 (sf)
Issuer: RedZed Trust Series 2018-1
Class F Notes, B2 (sf) Placed Under Review for Possible Downgrade;
previously on Sep 20, 2018 Definitive Rating Assigned B2 (sf)
Issuer: RedZed Trust Series 2019-1
Class B Notes, Upgraded to Aa1 (sf); previously on Aug 1, 2019
Definitive Rating Assigned Aa2 (sf)
Class C Notes, Upgraded to A1 (sf); previously on Aug 1, 2019
Definitive Rating Assigned A2 (sf)
Class F Notes, B1 (sf) Placed Under Review for Possible Downgrade;
previously on Aug 1, 2019 Definitive Rating Assigned B1 (sf)
RATINGS RATIONALE
The downgrade of the Class F notes of RedZed 2017-2 was prompted by
the combined effect of (1) the correction of prior model input
errors related to the pro-rata principal amortisation conditions;
and (2) an increase in the credit enhancement available to the
affected notes.
At the time of past surveillance rating actions on RedZed 2017-2,
Moody's incorrectly modelled the step-down conditions for pro-rata
principal amortisation. The call option date sub-trigger was
incorrectly set-up, such that the pro-rata conditions would never
be satisfied and the principal waterfall would always be fully
sequential.
Its rating action on the Class F notes of RedZed 2017-2 reflects
the net effect of the correction to the pro-rata principal
repayment conditions, which has a negative impact, and the build-up
in credit enhancement, which has a positive impact. The rating
action also reflects the correction of model input errors regarding
the retention ledger and principal deficiency ledger sub-triggers
which did not have a rating impact.
The reviews for downgrade of the Class F Notes issued by RedZed
2018-1 and the Class F Notes issued by RedZed 2019-1 reflect the
increased likelihood of a deterioration in the performance of the
underlying mortgage loans as a result of the expected contraction
in Australian economic activity in 2020 due to the coronavirus
outbreak. The mortgage loan portfolios underlying these two
transactions have a high proportion of self-employed borrowers
(84%-87%) and borrowers with impaired credit histories (12%-14%),
groups that Moody's views as more susceptible to increased default
risk under a stressed economic scenario.
Moody's analysis tested the impact of a 20% increase to its
standard expected loss assumption on the underlying pools to
evaluate the resiliency of the ratings amid the uncertainty
surrounding the pools' performance. Moody's has also factored in
individual transaction specifics such as the expected levels of
excess spread and continued deleveraging of the deals in the coming
months. The affected ratings are for junior-ranking notes that have
lower credit enhancement available to protect them, making them
more vulnerable to any increase in losses relative to the senior
notes in the deals.
During the review period, Moody's will evaluate the effects of
ongoing and projected macroeconomic conditions on the future
performance of the mortgage loans and monitor the servicer's
efforts in collecting on the delinquent loans. As to the Class F
Notes issued by RedZed 2018-1, Moody's will also consider the
correction of prior errors in the modeling of certain pro-rata
principal amortization sub-triggers; however these are not expected
to impact the rating.
The upgrades of the Class B and the Class C Notes of RedZed 2019-1
reflect an increase in the credit enhancement available to the
affected notes since issuance. Unlike the junior-ranking Class F
Notes, these mezzanine and senior notes benefit from higher levels
of credit enhancement, which in Moody's view helps protect them
from the likely deterioration in the performance of the underlying
mortgage loans.
RedZed Trust Series 2017-2
Since closing, the note subordination available for the Class F
notes has increased to 3.3% from 1.4%.
As of April 2020, 6.4% of the outstanding pool was 30-plus day
delinquent, and 3.5% was 90-plus day delinquent. The portfolio has
incurred a loss of AUD1,835 since closing, which has been covered
by excess spread.
Based on the observed performance and outlook, Moody's has revised
its expected loss assumption to 3.45% of the outstanding pool by
projecting the future defaults based on a roll rate analysis on
delinquent and defaulted loans.
Moody's has decreased its MILAN CE assumption to 18.7% from 19.4%
at the time of the last upgrade in June 2019, based on the current
portfolio characteristics.
RedZed Trust Series 2018-1
Since closing, the note subordination available for the Class F
Notes has increased to 2.9% from 1.8%.
As of April 2020, 4.7% of the outstanding pool was 30-plus day
delinquent, and 2.2% was 90-plus day delinquent. The portfolio has
incurred a loss of AUD83,167 since closing, which has been covered
by excess spread.
Based on the observed performance and outlook, Moody's has revised
its expected loss assumption to 3.08% of the outstanding pool by
projecting the future defaults based on a roll rate analysis on
delinquent and defaulted loans.
Moody's has decreased its MILAN CE assumption to 14.7% from 16.5%
at the time of the last upgrade in June 2019, based on the current
portfolio characteristics.
RedZed Trust Series 2019-1
Since closing in August 2019, the note subordination available for
the Class B, Class C and Class F Notes has increased to 9.0%, 7.5%
and 1.9% from 7.0%, 5.9% and 1.4%, respectively.
As of April 2020, 3.3% of the outstanding pool was 30-plus day
delinquent, and 1.6% was 90-plus day delinquent. The portfolio has
not incurred any losses to date.
Based on the limited observed performance and outlook, Moody's has
maintained its expected loss assumption at 2.3% as a percentage of
the original pool balance, which is equivalent to 3.05% of the
outstanding pool.
Moody's has maintained its closing MILAN CE assumption of 16%,
based on the current portfolio characteristics.
The transactions are residential mortgage-backed securities
originated by RedZed Lending Solutions Pty Limited, an Australian
non-bank mortgage originator. The portfolios consist of mortgage
loans extended to self-employed borrowers. A portion of the
portfolios consist of loans extended to borrowers with impaired
credit histories or made on a limited documentation basis.
Moody's analysis has considered the increased uncertainty relating
to the effect of the coronavirus outbreak on the Australian
economy, as well as the effects that government measures to contain
the virus will have on the performance of the portfolios.
Moody's regards the coronavirus outbreak as a social risk under its
environmental, social and governance framework, given the
substantial implications for public health and safety. It is a
global health shock, which makes it extremely difficult to provide
an economic assessment and thus the degree of uncertainty around
Moody's forecasts is unusually high.
The principal methodology used in these ratings was Moody's
Approach to Rating RMBS Using the MILAN Framework published in May
2020.
Factors that would lead to an upgrade or downgrade of the ratings:
Factors that could lead to an upgrade of the ratings include (1)
performance of the underlying collateral that is better than
Moody's expectations and (2) an increase in credit enhancement
available for the notes.
Factors that could lead to a downgrade of the ratings include (1)
performance of the underlying collateral that is worse than Moody's
expectations, (2) a decrease in the credit enhancement available
for the notes and (3) a deterioration in the credit quality of the
transaction counterparties.
=========
C H I N A
=========
BAOSHANG BANK: Scandal Takes Down Yet Another Official
------------------------------------------------------
Wu Hongyuran and Timmy Shen at Caixin Global reports that a retired
former local banking regulator in the Inner Mongolia autonomous
region has been placed under investigation on suspicion of
corruption in connection with Baoshang Bank Co. Ltd., a struggling
lender taken over by regulators in May last year.
According to Caixin, anti-graft watchdogs said in a statement on
June 4 that Xue Jining, who served as head of the Inner Mongolia
branch of the now-defunct China Banking Regulatory Commission
(CBRC) from 2007 to 2014 before retiring in 2015, is suspected of
"serious violations of (Communist Party) discipline and law" -- a
euphemism for corruption.
The probe into Xue is related to Baoshang, a midsize lender
previously controlled by financial titan Tomorrow Holding Co. Ltd.,
people with knowledge of the matter told Caixin. Tomorrow's
founder, mysterious tycoon Xiao Jianhua, was placed under
investigation by Chinese anti-corruption authorities in early 2017,
Caixin notes.
Xue isn't the only one who's in trouble for involvement in the
Baoshang scandal. According to Caixin, Liu Jinming and Jia Qizhen,
both former officials at the Inner Mongolia branch of the China
Banking and Insurance Regulatory Commission (CBIRC) -- a
combination of the CBRC and the country's former top insurance
regulator - were put under investigation by graft busters last
year. In April, Liu was expelled from the party and removed from
his position.
Caixin has learned from sources close to the matter that Chai
Baoyu, another former CBIRC official from the same branch, and Yu
Lan, a former head of the CBRC's Baotou city branch in Inner
Mongolia, are also under graft investigations. All four, the
sources told Caixin, are being investigated for suspicion of
involvement in corruption with Baoshang.
In May of last year, Baoshang made headlines when it was taken over
by regulators due to "severe credit risk." The takeover has
revealed endemic corruption surrounding the lender.
The original timeline for completion of the takeover was set for
May 24, but has been extended by six months to Nov. 23, authorities
said last month, due to disruptions caused by the coronavirus
outbreak, adds Caixin.
About Baoshang Bank
Baoshang Bank Co., Ltd. provides various commercial banking
products services to individuals and corporate customers in China.
As reported in the Troubled Company Reporter-Asia Pacific on May
27, 2019, Caixin Global said China's financial regulators took
control of a small private bank as part of authorities' efforts to
break up fallen tycoon Xiao Jianhua's business empire and contain
financial risks. According to Caixin, the People's Bank of China
(PBOC) and China Banking and Insurance Regulatory Commission
(CBIRC) announced on May 24, 2019, the takeover of Baoshang Bank
Co. for a year. The rare takeover came two years after Xiao, the
billionaire founder of conglomerate Tomorrow Holding Group, went
missing from a luxury Hong Kong hotel. He is reportedly to have
been placed under graft investigation by Chinese authorities. The
regulators said the takeover reflects the "severe credit risk" the
bank poses and is intended to protect the interests of the bank's
depositors and other clients.
CENTRAL CHINA REAL: Fitch Rates Proposed USD Senior Notes 'BB-'
---------------------------------------------------------------
Fitch Ratings has assigned a 'BB-' rating to Central China Real
Estate Limited's (CCRE; BB-/Stable) proposed US dollar senior
notes. The notes are rated at the same level as CCRE's senior
unsecured rating, as they represent its direct, unconditional,
unsecured and unsubordinated obligations.
CCRE's ratings are supported by the company's position as a
market-leading homebuilder in China's Henan province, and healthy
leverage. However, CCRE remains less geographically diversified and
has thinner margins than higher-rated peers, which constrains the
rating at the current level.
KEY RATING DRIVERS
Strong Presence in Henan: CCRE increased its market share in Henan
to 11.2% in 2019 from 9% in 2018, and remained the largest
developer in the province. The company has been developing
residential properties almost entirely in Henan for more than 28
years, and has projects in 18 prefecture-level cities. CCRE's lower
average selling price of CNY7,811 per sq m in 2019, compared with
peers' ASP of above CNY11,000/sq m, reflects its wide product
exposure, which includes projects in smaller cities.
Growth in Line with Market: CCRE's total contracted sales in 2019
were CNY71.8 billion, up by 34% from 2018. This was driven by a
larger share of sales from lower-tier cities in Henan. CCRE aims to
boost its annual contracted sales to CNY80 billion in 2020, which
should be supported by solid demand in the province.
More Land Acquisitions: CCRE acquired 13 million sq m in
attributable gross floor area of land for CNY22.7 billion in 2019.
It achieved a land acquisition/contracted sales value ratio of
0.32x, same as that in 2018. Management budgeted land-acquisition
outflow of CNY20 billion for 2020, representing 0.33x of its
contracted sales receipts.
Lower Leverage: CCRE's leverage, as defined by net debt/adjusted
inventory (including guarantees to joint ventures and associates),
dropped to 17.2% in 2019 from 43.2% in 2018, driven by a rise in
its payables. Fitch expects the company to be flexible on its land
acquisitions as its land bank is sufficient for development over
the next four to five years.
Stabilising Gross Margin: Fitch expects CCRE's gross margin to
stabilise at 23%-25% in 2020 after narrowing to 26% from 34.4% in
2018, due mainly to the recognition of high-margin products in
2018.
Guarantee to Related Parties: CCRE provided a two-year CNY500
million financial guarantee to Henan Hongdao in December 2019, for
the latter to obtain a bank loan. Henan Hongdao is owned by CCRE's
chairman and largest shareholder, and its subsidiary is a supplier
to CCRE. CCRE said it is not providing additional guarantees to
related parties that focus on non-property development businesses.
Fitch would consider negative rating action if there is increased
related-party transactions and financial guarantees.
DERIVATION SUMMARY
CCRE's total contracted sales of CNY71.8 billion in 2019 are
comparable with those of 'BB-' rated peers such as Yuzhou
Properties Company Limited (BB-/Stable) and KWG Group Holdings
Limited (BB-/Stable).
CCRE's leverage ratio is lower than 'BB-' rated peers' ratio of
20%-45%, while the improvement in 2019 was driven by a rise in its
payables.
CCRE's EBITDA margin shrank to 16% in 2019 from 22% in 2018, which
was lower than the 'BB-' peers' range of 18%-25%.
CCRE is rated one-notch lower than Logan Property Holdings Company
Limited (BB/Stable), which has higher attributable contracted sales
and better margins. Logan's operations are concentrated in the
Greater Bay Area, but the concentration risk has come down after it
expanded into new areas such as the Yangtze River Delta, Hong Kong
and Singapore in the last 12-24 months. Fitch expects the
contribution from the Greater Bay Area to Logan's sales to drop to
around 50% in 2020-2021. In comparison, all of CCRE's sales are
from Henan.
KEY ASSUMPTIONS
Fitch's Key Assumptions Within its Rating Case for the Issuer
- Total contracted sales by gross floor area to increase by 5% in
2020 and 2021
- ASP for contracted sales to remain stable in 2020 and 2021
- EBITDA margin (excluding capitalised interest) to stay at
15%-20% in 2020 and 2021
- Land-acquisition budget to be 30%-35% of total contracted sales
in 2020 and 2021
RATING SENSITIVITIES
Factors that could, individually or collectively, lead to positive
rating action/upgrade:
Leverage, measured by net debt/adjusted inventory on a
proportionately consolidated basis, persistently at 30% or below,
while the company achieves diversification - with 20% of contracted
sales generated outside of Henan province
Factors that could, individually or collectively, lead to negative
rating action/downgrade:
- A decline in contracted sales for a sustained period
- Leverage at 40% or above for a sustained period
- EBITDA margin at below 18% for a sustained period
- Any increase in financial guarantees to related parties on
non-property development businesses
BEST/WORST CASE RATING SCENARIO
International scale credit ratings of Non-Financial Corporate
issuers have a best-case rating upgrade scenario (defined as the
99th percentile of rating transitions, measured in a positive
direction) of three notches over a three-year rating horizon; and a
worst-case rating downgrade scenario (defined as the 99th
percentile of rating transitions, measured in a negative direction)
of four notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are
based on historical performance.
LIQUIDITY AND DEBT STRUCTURE
Ample Liquidity: The company had total cash of CNY30.8 billion
(including restricted cash of CNY8.1 billion) as of end-2019,
sufficient to cover short-term debt of CNY12.5 billion maturing
within one year.
ESG CONSIDERATIONS
The highest level of ESG credit relevance, if present, is a score
of 3. This means ESG issues are credit-neutral or have only a
minimal credit impact on the entity(ies), either due to their
nature or to the way in which they are being managed by the
entity(ies).
LUCKIN COFFEE: Boss to Face Criminal Charges for Financial Fraud
----------------------------------------------------------------
Caixin Global reports that Lu Zhengyao, chairman of scandal-ridden
Luckin Coffee Inc., is likely to face criminal charges in China
after authorities discovered emails in which he instructed
colleagues to commit fraud, a source close to domestic regulators
said.
China's top market watchdog and Ministry of Finance have found
evidence that Luckin, which is listed on the Nasdaq and seen as a
domestic challenger to Starbucks Corp., paid taxes on bogus
transactions, multiple people close to the company's internal
investigation team told Caixin.
In early April, Luckin admitted to inflating sales by around CNY2.2
billion ($310.7 million) through fabricated transactions for the
final three quarters of last year, Caixin recalls. The case
triggered a wave of backlash from American regulators and
politicians against U.S.-listed Chinese companies, many of which do
not grant U.S. audit regulators access to their audit working
papers.
Caixin relates that Luckin has initially blamed Chief Operating
Officer Liu Jian and several of his subordinates for the fraud.
Last month, the coffeemaker fired Liu and CEO Qian Zhiya. Lu,
however, has retained his role as chairman.
Although Luckin, which is registered in the Cayman Islands, is not
directly subject to the China Securities Regulatory Commission's
oversight, China's new Securities Law has empowered the securities
watchdog to regulate such a company as its operating assets are all
in the country, the source close to regulators said, Caixin
relays.
According to Caixin, the new Securities Law, which came into effect
in March, stipulates that China can hold entities legally
accountable for overseas securities trading that disrupts domestic
market order or harms domestic investors' interests.
Luckin's actions also violate China's accounting law, the source,
as cited by Caixin, said. The law states that companies that
produce false accounting reports and those who instruct them to do
so will face charges if their misconduct constitutes a crime.
While the Nasdaq told Luckin last month that it would be delisted
due to "public interest concerns" raised by the fraud, the company
said it planned to request a hearing on the issue, Caixin says.
Caixin notes that Luckin debuted in the U.S. last May with a $561
million IPO only one and a half years after its founding. Like many
other Chinese startups, Luckin has relied heavily on a cash-burning
subsidy strategy to fund a lightning-fast expansion.
Luckin's misconduct bears similarities to an incident nearly 10
years ago when a series of scandals prompted investors to short an
array of U.S.-listed Chinese companies, a source at a foreign
investment bank said. The case reflects long-standing cracks in
China-U.S. coordination of financial supervision that offer room
for dodgy business practices, the person said, adding that without
a resolution for this problem, overseas-listed Chinese companies
will always be under a shadow.
About Luckin Coffee
Based in China, Luckin Coffee Inc. (NASDAQ: LK) --
https://www.luckincoffee.com/ --- has pioneered a technology-driven
retail network to provide coffee and other products of high
quality, high affordability, and high convenience to customers.
Empowered by big data analytics, AI, and proprietary technologies,
the Company pursues its mission to be part of everyone's everyday
life, starting with coffee.
As reported in the Troubled Company Reporter-Asia Pacific on April
7, 2020, China Daily said that Luckin Coffee Inc, the so-called
rival to Starbucks in China, has exposed itself to the risks of
delisting and even bankruptcy due to severe fabrication of sales
data, experts said.
China Daily related that the Nasdaq-listed Chinese coffee chain saw
its share price crash more than 75 percent to $6.40 on April 2
after the company disclosed that its earnings results were
substantially inflated. It dropped nearly 15 percent more in the
first two hours of trading on April 3.
Liu Jian, chief operating officer and a director of the company,
and several employees reporting to him, had engaged in misconduct,
including fabricating transactions, a company statement said on
April 2.
The aggregate sales associated with fabricated transactions amount
to around CNY2.2 billion (US$310 million) during the April to
December period last year, according to Luckin's preliminary
internal investigation, the statement said.
=========
I N D I A
=========
BISWAJANANI COLD: CRISIL Moves B+ Debt Ratings to Not Cooperating
-----------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Biswajanani
Cold Storage Private Limited (BCSPL) to 'CRISIL B+/Stable/CRISIL A4
Issuer not cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Bank Guarantee .2 CRISIL A4 (ISSUER NOT
COOPERATING; Rating Migrated)
Cash Credit 11.63 CRISIL B+/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Proposed Long Term 2.41 CRISIL B+/Stable (ISSUER NOT
Bank Loan Facility COOPERATING; Rating Migrated)
Term Loan 1.57 CRISIL B+/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Working Capital 1.69 CRISIL B+/Stable (ISSUER NOT
Loan COOPERATING; Rating Migrated)
CRISIL has been consistently following up with BCSPL for obtaining
information through letters and emails dated
February 29, 2020 and March 19, 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 BCSPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on BCSPL 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 BCSPL to 'CRISIL B+/Stable/CRISIL A4 Issuer not
cooperating'.
Incorporated in 2009, BCSPL provides cold storage facilities for
potatoes. The promoters also engage in opportunistic trading of
potatoes. The cold storage unit is in Medinipur West, West Bengal,
and the daily operations are managed by the Ghosh and Dandapat
families.
CHANDI CHARAN: CRISIL Moves 'B' Debt Ratings to Not Cooperating
---------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Chandi Charan
Cold Storage Private Limited (CCCSPL) to 'CRISIL B/Stable/CRISIL A4
Issuer not cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Bank Guarantee .21 CRISIL A4 (ISSUER NOT
COOPERATING; Rating Migrated)
Cash Credit 6.15 CRISIL B/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Proposed Long Term 5.06 CRISIL B/Stable (ISSUER NOT
Bank Loan Facility COOPERATING; Rating Migrated)
Term Loan .95 CRISIL B/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Working Capital 1.17 CRISIL B/Stable (ISSUER NOT
Facility COOPERATING; Rating Migrated)
CRISIL has been consistently following up with CCCSPL for obtaining
information through letters and emails dated March 31, 2020 and
April 24, 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 CCCSPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on CCCSPL 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 CCCSPL to 'CRISIL B/Stable/CRISIL A4 Issuer not
cooperating'.
CCCSPL was set up in 2011 by Kolkata-based Gorai family. The
company has a two-chamber cold storage unit in Bankura, West
Bengal.
DIVYA JYOTI: CRISIL Keeps 'D' Debt Ratings in Not Cooperating
-------------------------------------------------------------
CRISIL said the ratings on bank facilities of Divya Jyoti
Industries Limited (DJIL) continues to be 'CRISIL D/CRISIL D Issuer
not cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Bank Guarantee .65 CRISIL D (ISSUER NOT
COOPERATING)
Cash Credit 27.2 CRISIL D (ISSUER NOT
COOPERATING)
Letter Of 2.6 CRISIL D (ISSUER NOT
Guarantee COOPERATING)
Letter of Credit 3.9 CRISIL D (ISSUER NOT
COOPERATING)
Proposed Long Term .65 CRISIL D (ISSUER NOT
Bank Loan Facility COOPERATING)
CRISIL has been consistently following up with DJIL for obtaining
information through letters and emails dated October 15, 2019 and
April 11, 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 DJIL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on DJIL is
consistent with 'Scenario 4' outlined in the 'Framework for
Assessing Consistency of Information'.
Based on the last available information, the ratings on bank
facilities of DJIL continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.
DJIL, incorporated in 1992, manufactures soya bean oil, soya oil
extracts, DOC, and other value-added products. The company's
manufacturing facility at Pithampur in Dhar, Madhya Pradesh, has an
extraction capacity of 700 tpa and refining capacity of 100 tpa.
DUROPLY INDUSTRIES: CRISIL Moves B+ Debt Ratings to Not Coop.
-------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Duroply
Industries Limited (DPIL; formerly known as Sarda Plywood
Industries Limited) to 'CRISIL B+/Stable/CRISIL A4 Issuer not
cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Bank Guarantee 2 CRISIL A4 (ISSUER NOT
COOPERATING; Rating Migrated)
Cash Credit 35.96 CRISIL B+/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Letter of Credit 34.61 CRISIL A4 (ISSUER NOT
COOPERATING; Rating Migrated)
Term Loan 1 CRISIL B+/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
CRISIL has been consistently following up with DPIL for obtaining
information through letters and emails dated May 13, 2020 and May
18, 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 DPIL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on DPIL is
consistent with 'Scenario 4' outlined in the 'Framework for
Assessing Consistency of Information'.
Therefore, on account of inadequate information and lack of
management cooperation, CRISIL has migrated the rating on bank
facilities of DPIL to 'CRISIL B+/Stable/CRISIL A4 Issuer not
cooperating'.
Incorporated in 1957 as a private limited company, DPIL
manufactures plywood and allied products. It became a deemed public
limited company in 1974 and is listed on the Bombay Stock Exchange.
Units are in Jeypore, Assam, and Rajkot, Gujarat. It also owns a
bought-leaf tea processing factory in Jeypore.
H R V GEMS: Ind-Ra Moves BB- LT Issuer Rating to Non-Cooperating
----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated H R V Gems'
Long-Term Issuer Rating to the non-cooperating category. The issuer
did not participate in the rating exercise despite continuous
requests and follow-ups by the agency. Therefore, investors and
other users are advised to take appropriate caution while using the
rating. The rating will now appear as 'IND BB- (ISSUER NOT
COOPERATING)' on the agency's website.
The instrument-wise rating actions are:
-- INR60.00 mil. Fund-based working capital limits migrated to
non-cooperating category with IND BB- (ISSUER NOT
COOPERATING) / IND A4+ (ISSUER NOT COOPERATING) rating; and
-- INR7.50 mil. Non-fund-based working capital limits migrated to
non-cooperating category with IND A4+ (ISSUER NOT
COOPERATING) rating.
Note: ISSUER NOT COOPERATING: The ratings were last reviewed on May
8, 2019. Ind-Ra is unable to provide an update, as the agency does
not have adequate information to review the ratings.
COMPANY PROFILE
HRV was registered in February 2016 by Pravinbhai Kevadiya, Rajesh
Vithalbhai Kevadiya, and Valjibhai Vithalbhai Kevadiya. The firm
imports manufacture and sells diamonds.
JAI GURUDEV: CRISIL Migrates 'B' Debt Ratings to Not Cooperating
----------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Jai Gurudev
Ginning And Pressing Industries (JGGPI) to 'CRISIL B/Stable Issuer
not cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 5 CRISIL B/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Term Loan 3.21 CRISIL B/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
CRISIL has been consistently following up with JGGPI for obtaining
information through letters and emails dated February 29, 2020 and
March 19, 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 JGGPI, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on JGGPI 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 JGGPI to 'CRISIL B/Stable Issuer not cooperating'.
JGGPI was set up in 2015 as a partnership between Ms Sharda Thote,
Mr Chandrashekhar Thote and Mr Sachin Kawale. The firm is a
processer and trader of cotton bales, cotton seeds, cotton seed
cake, and cotton seed oil. Its unit is at Kalamb village in
Yavatmal (Maharashtra).
JAI RAVECHI: CRISIL Migrates B Debt Ratings to Not Cooperating
--------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Jai Ravechi
Chemicals Private Limited (JRCPL) 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 8.5 CRISIL B/Stable (ISSUER NOT
Bank Loan Facility COOPERATING; Rating Migrated)
CRISIL has been consistently following up with JRCPL for obtaining
information through letters and emails dated February 29, 2020 and
March 19, 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 JRCPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on JRCPL 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 JRCPL to 'CRISIL B/Stable Issuer not cooperating'.
Incorporated in 2010, JRCPL trades in raw salt. It is promoted by
Mr. Jakha Bhima Humbal and his sister-in-law Mrs. Kuvarben Babubhai
Humbal. The company's operations are confined to Gujarat and North
India.
JENAM ENTERPRISES: CRISIL Moves D Debt Ratings to Not Cooperating
-----------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Jenam
Enterprises Private Limited (JEPL) to 'CRISIL D/CRISIL D Issuer not
cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 15 CRISIL D (ISSUER NOT
COOPERATING; Rating Migrated)
Inland/Import 7.75 CRISIL D (ISSUER NOT
Letter of Credit COOPERATING; Rating Migrated)
Proposed Long Term 2.25 CRISIL D (ISSUER NOT
Bank Loan Facility COOPERATING; Rating Migrated)
CRISIL has been consistently following up with JEPL for obtaining
information through letters and emails dated February 29, 2020 and
March 19, 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 JEPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on JEPL 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 JEPL to 'CRISIL D/CRISIL D Issuer not cooperating'.
Incorporated in 2012, Jenam Enterprises Pvt Ltd (JEPL), is promoted
by Amit Sheth. JEPL is engaged in trading of steel HR coils, CR
coils and Colour coated Coils in Maharashtra.
JET AIRWAYS: Receives Fresh EOIs from Suitors
---------------------------------------------
Livemint.com reports that the UK-based Kalrock Capital,
Hyderabad-based Turbo Aviation, Alpha Airways and Canadian citizen
Siva Rasiah are among the 11 investors who have submitted
expressions of interest in the beleagured airline Jet Airways.
The employees consortium and the South American based Synergy Group
have also submitted their interest in the company, the report
says.
According to Livemint, this is the fourth attempt by the airline's
resolution professional to find a suitor for reviving the ailing
company. Previously, South American conglomerate Synergy Group and
New Delhi-based Prudent ARC were given time to submit a resolution
plan but failed to meet the deadline.
"While we have received several interests this time, we are yet to
confirm who will qualify for the second round," the report quotes a
person aware of the matter as saying. "The timing of these bids is
interesting as it comes at a time when the airline industry
globally is going through the worst crisis. So we need to verify
who are the serious players among them," he added.
Livemint notes that the resolution process for Jet Airways has been
extended multiple times since the airline was admitted for
insolvency resolution.
Earlier this month, fresh expressions of interest for the airline
were invited and the deadline for submission was set for May 28.
The latest deadline for completion of Jet Airways's insolvency
resolution was recently extended to August 21 because of the
ongoing lockdown.
In March, the National Company Law Tribunal (NCLT) had allowed 90
days' extension for the corporate insolvency resolution process of
the airline, Livemint notes.
Despite its state of affairs, the grounded airline recently offered
two of its Boeing 777 wide-body aircraft for evacuation operations
of Indians stranded abroad under the Vande Bharat Mission, adds
Livemint.
About Jet Airways
Based in Mumbai, India, Jet Airways (India) Limited was one of
India's top airlines founded by Naresh Goyal. It provided
passenger and cargo air transportation services as well aircraft
leasing services. It operated flights to 66 destinations in India
and international countries.
On June 20, 2019, the National Company Law Tribunal (NCLT), Mumbai
Bench, accepted an insolvency petition against Jet Airways filed by
its creditors as they attempt to recover some of their dues.
Ashish Chhawchharia of Grant Thornton India has been named as the
resolution professional in the case. Law firm Cyril Amarchand
Mangaldas will represent the interests of the lenders' consortium,
according to a Reuters report.
Jet Airways on April 17, 2019, halted all flight operations after
its lenders rejected its plea for emergency funds.
Creditors have filed claims worth INR30,907 crore, according to
Financial Express. The RP has so far admitted claims worth over
INR14,000 crore.
K T VARGHESE: CRISIL Migrates B- Debt Ratings to Not Cooperating
----------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of K T Varghese
(KTV) to 'CRISIL B-/Stable/CRISIL A4 Issuer not cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Bank Guarantee 2.25 CRISIL A4 (ISSUER NOT
COOPERATING; Rating Migrated)
Cash Credit 4.25 CRISIL B-/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Proposed Fund- 3.50 CRISIL B-/Stable (ISSUER NOT
Based Bank Limits COOPERATING; Rating Migrated)
CRISIL has been consistently following up with KTV for obtaining
information through letters and emails dated February 29, 2020 and
March 19, 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 KTV, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on KTV 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 KTV to 'CRISIL B-/Stable/CRISIL A4 Issuer not
cooperating'.
Set up in 2000, K T Varghese is a proprietor who owns Mannakunnathu
Constructions which is a Piravom, Ernakulam, Kerala based civil
contractor. The firm undertakes road construction projects for
'Kerela State Rural Roads Development Agency' in rural areas of
Ernakulam and Kottayam. The operations of the firm are managed by
proprietor Mr. K T Varghese.
KEROS STONE: CRISIL Migrates 'D' Debt Ratings to Not Cooperating
----------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Keros Stone
LLP (KSL) to 'CRISIL D/CRISIL D Issuer not cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Bank Guarantee 1.07 CRISIL D (ISSUER NOT
COOPERATING; Rating Migrated)
Cash Credit 3.0 CRISIL D (ISSUER NOT
COOPERATING; Rating Migrated)
Long Term Loan 6.09 CRISIL D (ISSUER NOT
COOPERATING; Rating Migrated)
Proposed Cash 0.04 CRISIL D (ISSUER NOT
Credit Limit COOPERATING; Rating Migrated)
CRISIL has been consistently following up with KSL for obtaining
information through letters and emails dated February 29, 2020 and
March 19, 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 KSL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on KSL 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 KSL to 'CRISIL D/CRISIL D Issuer not cooperating'.
Furthermore, the company has not paid the fee for conducting rating
surveillance as agreed to in the rating agreement.
KSL was set up in September 2016 as a partnership between Mr
Manojkumar Govindbhai Rangpariya, Mr Kailash Kanjibhai Desai, Mr
Sureshbhai Keshavjibhai Charola and Mr Deepak Dhanjibhai Detroja.
The Morbi-based firm manufactures artificial marble tile of various
sizes, with installed capacity of 7,500 tonne per annum.
KISSAN RICELAND: CRISIL Moves 'D' Debt Ratings to Not Cooperating
-----------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Kissan
Riceland Private Limited (KRPL) to 'CRISIL D/CRISIL D Issuer not
cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 25 CRISIL D (ISSUER NOT
COOPERATING; Rating Migrated)
Proposed Long Term 2 CRISIL D (ISSUER NOT
Bank Loan Facility COOPERATING; Rating Migrated)
Proposed Non Fund 1.77 CRISIL D (ISSUER NOT
based limits COOPERATING; Rating Migrated)
Standby Line of 2 CRISIL D (ISSUER NOT
Credit COOPERATING; Rating Migrated)
Term Loan 1.23 CRISIL D (ISSUER NOT
COOPERATING; Rating Migrated)
CRISIL has been consistently following up with KRPL for obtaining
information through letters and emails dated February 29, 2020 and
March 19, 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 KRPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on KRPL 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 KRPL to 'CRISIL D/CRISIL D Issuer not cooperating'.
KRPL was incorporated in 2016, promoted by Mr Ashok Garg, Mr Sushil
Garg, and Mr Tarsem Chand. The company took over the operations of
their partnership firm, Kissan Rice Mills, effective from April
2016. It primarily mills and processes basmati and non-basmati
rice, which it sells domestically. The manufacturing unit is in
Kaithal, Haryana.
LOKESH INDUSTRIAL: CRISIL Assigns B- Rating to INR10cr Cash Debt
----------------------------------------------------------------
CRISIL has revoked the suspension of its rating on the bank
facilities of Lokesh Industrial Services Private Limited (LISPL; a
part of Lokesh Group) and has assigned its 'CRISIL B-/Stable'
rating to the long-term bank facilities. CRISIL had, on October 20,
2016, suspended the ratings as the group had not provided the
necessary information for a rating review. It has now shared the
requisite information, enabling CRISIL to assign ratings.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 10 CRISIL B-/Stable (Assigned;
Suspension Revoked)
The rating reflects the Lokesh group's small scale of operations,
large working capital requirement, and exposure to geographical.
The rating also factors in the group's weak financial risk profile.
These rating weaknesses are partially offset by the extensive
experience of the group's promoters.
Analytical Approach
CRISIL has combined the business and financial risk profiles of
LISPL and Lokesh Infraproject Pvt Ltd (LIPL). This is because both
companies, together referred as the Lokesh group, have common
promoters and operational linkages.
Key Rating Drivers & Detailed Description
Weaknesses
* Modest scale of operations: The group's revenue declined to INR56
crore in fiscal 2019, (from INR80 crore in fiscal 2018), due to a
slowdown in order inflow, and is estimated at INR57 crore in fiscal
2020. High fixed cost and dip in revenue led to losses for the
group in fiscal 2019. Further, Lokesh group's operations are
largely concentrated in two states making it highly dependent on
local tenders and vulnerable to changes in state government
policies.
* Weak financial risk profile: Financial risk profile is weak,
marked by modest interest coverage ratio of 1.5 times estimated in
fiscal 2020. Capital structure may also remain constrained, with
high total outside liabilities to tangible networth (TOL/TNW) ratio
estimated over 5 times as on March 31, 2020. Networth is estimated
at INR11 crore as on March, 2020.
* Large working capital requirement: Operations are working capital
intensive, as indicated by large gross current assets estimated at
362 days as on March 31, 2020, primarily driven by large
receivables (especially those outstanding for over six months).
Strength
* Extensive experience of promoters: The Lokesh group will continue
to benefit from the extensive experience of its promoters in the
mining and material handling business. Over the years it has
established longstanding relationship with its customers.
Liquidity Stretched
The group's liquidity is stretched marked by highly utilized bank
lines. The group's working capital requirements are high thus,
resulting in fully utilized bank lines. The cash accruals are
expected to remain at around INR2.1-2.6 Cr. annually against
repayment obligation of INR2 Cr.
Outlook: Stable
CRISIL believes the Lokesh group will continue to benefit from the
extensive experience of its promoters.
Rating Sensitivity factors
Upward factors
* Significant and sustained growth in revenue and operating margin,
leading to highercash accrual
* Better working capital management, resulting in TOLTNW ratio
below 2 times
Downward factors
* Lower than expected sales and profitability leading to net cash
accruals lower than INR2 crores
* Continued stretch in the working capital cycle, resulting in high
bank limit utilisation
* Weak financial risk profile.
LISPL was set up in 2007, by Mr Lokesh Jain and his family members.
The Nagpur (Maharashtra)-based company undertakes execution of
material handling, civil construction (only earthwork), and
logistics-related projects. LIPL, set up in 2011, carries out
mining and excavation activities.
M.S. LUVISH: Ind-Ra Assigns 'BB' LT Issuer Rating, Outlook Stable
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has assigned M.S. Luvish
Infosystems Private Limited (MSLIPL) a Long-Term Issuer Rating of
'IND BB'. The Outlook is Stable.
The instrument-wise rating actions are:
-- INR600 mil. Term loan* due on November 28, 2031 assigned with
IND BB+/Stable rating.
*Lease rental discounting (LRD) loan
KEY RATING DRIVERS
The rating reflects MSLIPL's small scale of operations with revenue
of INR182.10 million in FY20 (FY19: INR61.49 million); FY20 was the
company's first full year of operations. The company, engaged in
the renting and leasing of immovable properties, didn't receive
rent from few tenants in April 2020, due to disruptions caused by
the COVID-19 led lockdown. However, the company believes it will
recover the rent from the tenants in FY21, as they are bound by
agreements to pay the rent to the company. FY20 numbers are
provisional in nature.
MSIPL purchased a building named Espace with a total area of
228,879 sq. ft. located in Pune in December 2018 and currently has
100% occupancy. The company has 58% unexpired contract for 24-60
months till 31 January 2025, which includes 17% area of one tenant.
The remaining 42% covers the unexpired contract for 0-24 months.
There are 19 tenants in the building, of which MD India Health
Insurance TPA Private Limited covers 30% of the total area i.e.
70,098 sq. ft.
The rating factors in the company's modest EBITDA margin, which
improved to 85.1% in FY20 (FY19: 77.6%) due to the increase in
revenue. The company's return on capital employed was 7% in FY20
(FY19: 4%).
The rating is further constrained by the company's weak, although
improving credit metrics. Its interest coverage (operating
EBITDA/gross interest expense) stood at 1.1x in FY20 (FY19: 0.8x)
and net leverage (total adjusted net debt/operating EBITDA) at 7.7x
(26.0x) owing to the increase in EBITDA to INR155 million (INR48
million).
Liquidity Indicator – Adequate: The agency believes MSLIPL's
liquidity is sufficient to meet its debt servicing obligations over
the tenure of the LRD debt owing to the waterfall mechanism. The
company's average debt service coverage ratio (DSCR) is 1.3x.
Further, the rating factors in the presence of a debt service
reserve account equivalent to three months of repayment obligations
in the form of a lien marked fixed deposit to be maintained
throughout the tenure of the loan. MSLIPL's cash and cash
equivalents stood at INR54.22 million at end-FY20 (end-FY19:
INR42.38 million). As per the management, MSLIPL can be funded
through the group companies in case of a default.
The rating is further supported by the company's promoters' (the
Sani Group) over two decades of experience in the LRD segment.
RATING SENSITIVITIES
Negative: Any decline in the occupancy levels and/or delay in the
receipt of rental income leading to DSCR declining below 1.2x
and/or decrease in the debt service reserve account would be
negative for the ratings.
Positive: A higher-than-expected rental income leading to higher
cash generation and/or a substantial decline in the debt
subsequently leading to a strong improvement in the DSCR would be
positive for the ratings.
COMPANY PROFILE
M.S. Luvish Infosystems Private Limited is engaged in renting and
leasing of immovable properties. The property is located at Pune
and has a total area is 228,879 sq. ft. The company has six
promoters and is a part of the Sani Group.
MALAR TEXTILES: CRISIL Moves B- INR8cr Debt Rating to Not Coop.
---------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Malar Textiles
(MR) to 'CRISIL B-/Stable Issuer not cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Proposed Long Term 8 CRISIL B-/Stable (ISSUER NOT
Bank Loan Facility COOPERATING; Rating Migrated)
CRISIL has been consistently following up with MR for obtaining
information through letters and emails dated February 29, 2020 and
March 19, 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 MR, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on MR 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 MR to 'CRISIL B-/Stable Issuer not cooperating'.
With Mr Thilip Kumar as the promoter, MR is engaged in the trading
and processing of viscose fibre and yarn.
MATHURAM SWASTHYA: Ind-Ra Keeps 'B+' Loan Rating in NonCooperating
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has maintained the rating on
Mathuram Swasthya Evam Shikshan Sansthan's term loans in the
non-cooperating category. The issuer did not participate in the
rating exercise despite continuous requests and follow-ups by the
agency. Therefore, investors and other users are advised to take
appropriate caution while using these ratings. The rating will
continue to appear as 'IND B+ (ISSUER NOT COOPERATING)' on the
agency's website.
The instrument-wise rating action is:
-- INR106.50 mil. Term loans due on March 31, 2021 - September
30, 2023 maintained in non-cooperating category with IND B+
(ISSUER NOT COOPERATING) rating.
Note: ISSUER NOT COOPERATING: The rating was last reviewed on June
9, 2017. Ind-Ra is unable to provide an update as the agency does
not have adequate information to review the ratings.
COMPANY PROFILE
Mathuram Swasthya Evam Shikshan Sansthan, registered under the
Companies Act 1956, manages Dr. DY Patil Pushapalata Patil
International School in Kankarbagh, Patna.
MBS SERVICES: Ind-Ra Moves BB+ LT Issuer Rating to Non-Cooperating
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated MBS Services'
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:
-- INR164 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 13, 2019. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.
COMPANY PROFILE
MBS Services, promoted by Mr. Tarninder Singh, was formed in 2005
with the aim of leasing out commercial properties in Chandigarh.
MINI DIAMONDS: CRISIL Keeps 'D' Debt Ratings in Not Cooperating
---------------------------------------------------------------
CRISIL said the ratings on bank facilities of Mini Diamonds India
Limited (MDIL) continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 2 CRISIL D (ISSUER NOT
COOPERATING)
Export Packing 6 CRISIL D (ISSUER NOT
Credit & Export COOPERATING)
Bills Negotiation/
Foreign Bill
discounting
Proposed Long Term 1 CRISIL D (ISSUER NOT
Bank Loan Facility COOPERATING)
CRISIL has been consistently following up with MDIL for obtaining
information through letters and emails dated October 15, 2019 and
April 11, 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 MDIL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on MDIL is
consistent with 'Scenario 4' outlined in the 'Framework for
Assessing Consistency of Information'.
Based on the last available information, the ratings on bank
facilities of MDIL continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.
MDIL, incorporated in 1987 by Mr Upendra Shah and Mr Himanshu Shah,
manufactures and trades in cut and polished diamonds, and trades in
rough diamonds.
MSR SEA: CRISIL Migrates 'B+' Debt Ratings to Not Cooperating
-------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of MSR Sea Foods
(MSR) to 'CRISIL B+/Stable Issuer not cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 5 CRISIL B+/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Proposed Cash 20 CRISIL B+/Stable (ISSUER NOT
Credit Limit COOPERATING; Rating Migrated)
CRISIL has been consistently following up with MSR for obtaining
information through letters and emails dated February 29, 2020 and
March 19, 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 MSR, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on MSR 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 MSR to 'CRISIL B+/Stable Issuer not cooperating'.
Set up in 2015, Narsapuram, Andhra Pradesh-based MSR, a partnership
firm of Mr M Srinivasa Rao, and family, trades in shrimps.
Commercial operations are started in fiscal 2019.
NISHA ENTERPRISES: CRISIL Moves B+ INR7cr Debt Rating to Not Coop.
------------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Nisha
Enterprises (NE) to 'CRISIL B+/Stable Issuer not cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 7 CRISIL B+/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
CRISIL has been consistently following up with NE for obtaining
information through letters and emails dated February 29, 2020 and
March 19, 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 NE, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on NE 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 NE to 'CRISIL B+/Stable Issuer not cooperating'.
NE is a distributor of Steel Authorities of India Ltd (SAIL) for
HR/CR coils and plates, CI bolder and casting, and MS ingots in
Bokaro, Jharkhand. Daily operations are managed by proprietor Ms
Sarita Devi.
PHADNIS CLINIC: Ind-Ra Assigns B+ LT Issuer Rating, Outlook Stable
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has assigned Phadnis Clinic
Private Limited (PCPL) a Long-Term Issuer Rating of 'IND B+'. The
Outlook is Stable.
The instrument-wise rating actions are:
-- INR125 mil. Fund-based facilities assigned with IND B+ /
Stable /IND A4 rating; and
-- INR415 mil. Term loan due on April 2033 assigned with IND B+ /
Stable rating.
KEY RATING DRIVERS
The ratings reflect PCPL's small scale of operations with revenue
of INR556 million, according to the provisional financials for FY20
(FY19: INR407 million, FY18: INR441 million). The revenue improved
in FY20 due to the increased contribution from the inpatient
department, especially the orthopedic segment, to INR498 million
(FY19: INR363 million) with improved occupancy; the outpatient
department's revenue was stable at 10% of the total revenue in FY20
(FY19: 11%). In FY19, the revenue declined due to a reduction in
surgeries from the orthopedic segment (that has contributed 41.3%
to the total revenues historically). The rating also factors in the
company's negative net worth over 2018-2019.
PCPL reported moderate EBITDA margins of 16.8% in FY20 (FY19: 3.1%,
FY18: 13.0%) with RoCE of 14% (FY19: negative 2%). The margins
declined in FY19 due to a fall in revenue. This, along with the
consequent liquidity pressure in FY19, led the company to avail of
working capital lines worth INR125 million.
The credit metrics are modest with interest coverage (operating
EBITDA/gross interest expense) of 1.6x in FY20 (FY19: 0.9x) and net
leverage (adjusted net debt/operating EBITDAR) of 6.0x (47.0x). The
improvement in the credit metrics in FY20 was on account of an
increase in the absolute EBITDA to INR93 million (FY19: INR12
million) and a decline in debt level to INR571 million (INR588
million)
Liquidity Indicator - Stretched: The average utilization of
fund-based limits was 98% for the 12 months ended in March 2020.
Cash flow from operations turned positive at INR13 million (FY19:
negative INR34 million) and free cash flow from operations also
turned positive at INR11 million (INR37 million). The networking
capital cycle was comfortable at negative 144 days in FY20 (FY19:
negative 139 days). The cash and cash equivalents at FYE20 were
INR8 million (FYE19: INR2 million). The company has repayment
obligations of INR14.8 million and INR19.42 million in FY21 and
FY22, respectively.
Additionally, the ratings are supported by the promoter's
experience of almost two decades in the field of healthcare
services.
RATING SENSITIVITIES
Positive: Significant growth in the revenue and margins, leading to
the net leverage improving and remaining below 4.5x, and an
improvement in the liquidity position will lead to positive rating
action.
Negative: Any further decline in the revenue, credit metrics, and
liquidity could lead to negative rating action.
COMPANY PROFILE
PCPL is a private company incorporated on 22 March 1991. It has a
hospital that provides services such as cardiology, orthopedics,
neurology, dental, surgeries, pediatric, gynec, and obstetrics
specialty services. The management is in the hands of Amita Phadnis
Avinash and Avinash Ramchandra Phadnis. PCPL is located at Shivaji
Nagar in Pune.
POLY LOGIC: Insolvency Resolution Process Case Summary
------------------------------------------------------
Debtor: Poly Logic International Private Limited
220, Mahavir Industrial Estate
Opposite Mahakali Caves Road
Andheri (E) Mumbai
MH 400093
IN
Insolvency Commencement Date: May 26, 2020
Court: National Company Law Tribunal, Mumbai Bench
Estimated date of closure of
insolvency resolution process: November 23, 2020
(180 days from commencement)
Insolvency professional: Mr. Santanu T Ray
Interim Resolution
Professional: Mr. Santanu T Ray
AAA Insolvency Professionals LLP
A301, BSEL Tech Park
Sector 30a
Opp. Vashi Railway Station
400705
Tel: 022-42667394
E-mail: santanutray@aaainsolvency.com
polylogic@aaainsolvency.com
Last date for
submission of claims: June 13, 2020
PR CARS: CRISIL Migrates B Debt Ratings to Not Cooperating
----------------------------------------------------------
CRISIL has migrated the rating on bank facilities of PR Cars LLP
(PRCL) to 'CRISIL B/Stable Issuer not cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 1.5 CRISIL B/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Inventory Funding
Facility 10 CRISIL B/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Proposed Fund-
Based Bank Limits 4 CRISIL B/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Rupee Term Loan 14.5 CRISIL B/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
CRISIL has been consistently following up with PRCL for obtaining
information through letters and emails dated February 29, 2020 and
March 19, 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 PRCL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on PRCL 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 PRCL to 'CRISIL B/Stable Issuer not cooperating'.
PRCL has set up a showroom and workshop for Hyundai in Lucknow. The
showroom and workshop commenced operations in November 2018. The
firm is promoted and managed by Mr Harshit Bajaj and family
members.
QUANTAM AGROTECH: CRISIL Moves B- Debt Ratings to Not Cooperating
-----------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Quantam
Agrotech LLP (QAL) to 'CRISIL B-/Stable Issuer not cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 3.5 CRISIL B-/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Term Loan 3.61 CRISIL B-/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
CRISIL has been consistently following up with QAL for obtaining
information through letters and emails dated February 29, 2020 and
March 19, 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 QAL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on QAL 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 QAL to 'CRISIL B-/Stable Issuer not cooperating'.
Incorporated in 2014 in Hyderabad as a partnership firm by Mr.
Gouravelli Praveen Kumar and Mr. Manikonda Vinatha, QAL is engaged
in the production of commercial eggs.
R.J.S. STEELS: CRISIL Migrates B+ Debt Ratings to Not Cooperating
-----------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of R.J.S. Steels
Private Limited (RJS) to 'CRISIL B+/Stable/CRISIL A4 Issuer not
cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 1.5 CRISIL B+/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Letter of Credit 5.0 CRISIL A4 (ISSUER NOT
COOPERATING; Rating Migrated)
Proposed Long Term 3.5 CRISIL B+/Stable (ISSUER NOT
Bank Loan Facility COOPERATING; Rating Migrated)
CRISIL has been consistently following up with RJS for obtaining
information through letters and emails dated February 29, 2020 and
March 19, 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 RJS, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on RJS 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 RJS to 'CRISIL B+/Stable/CRISIL A4 Issuer not
cooperating'.
RJS was set up in 2016, by the promoters, Mr Subin Joseph and Mr
Joby Raphel. The Kerala-based company trades in Cold Twisted
Deformed (CTD) bars and Thermo-Mechanically Treated (TMT) bars.
RAAJCO SPINNERS: Ind-Ra Lowers Long Term Issuer Rating to 'BB-'
---------------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded Raajco Spinners
Private Limited's (RSPL) Long-Term Issuer Rating to 'IND BB-' from
'IND BB'. The Outlook is Stable.
The instrument-wise rating actions are:
-- INR209.8 mil. (reduced from INR256.2 mil.) Term loan due on
June 2024 downgraded with IND BB-/Stable rating;
-- INR230.0 mil. (increased from INR200.0 mil.) Fund-based
working capital limits Long-term rating downgraded; short-
term rating affirmed with IND BB-/Stable/IND A4+ rating; and
-- INR40.0 mil. Non-fund-based working capital limits assigned
with IND A4+ rating.
KEY RATING DRIVERS
The downgrade reflects the fall of 14.7% YoY in RSPL's revenue to
INR970 million in FY20 ((FY19: INR1,137 million) due to a decrease
in sales volumes as well as yarn prices, resulting from a decline
in demand in the international markets on account of the
non-resolution of the trade negotiations between China and the US.
The scale of operations continued to be small. RSPL had orders of
INR85.0 million in hand at end-May 2020, which would be executed by
end-July 2020, providing near-term revenue visibility. The company
achieved revenue of INR53 million till May 2020. RSPL's revenue in
1QFY21 is likely to be affected by the COVID-19-led lockdown. The
numbers for FY20 are provisional.
The rating factor in the company's continued weak credit metrics
due to the modest EBITDA margins. The metrics deteriorated sharply
in FY20 due to a decline in the operating EBITDA to INR48.0 million
(FY19: INR91.5 million) and an increase in the total debt to INR
872.0 million (INR841.0 million). The interest coverage (operating
EBITDA/gross interest expense) was 1.0x in FY20 (FY19: 2.1x) and
the net leverage (adjusted net debt/operating EBITDAR) was 18.2x
(9.2x).
The ratings continue to factor in RSPL's modest operating margins
due to the intense competition in the industry. The margin fell to
4.9% in FY20 (FY19: 8.0%) due to an increase in raw material costs
and poor absorption of fixed costs. The return on capital employed
turned negative in FY20 (FY19: 4%).
Liquidity Indicator – Poor: RSPL's average utilization of the
fund-based limits was 86.8% during the 12 months ended in April
2020. The cash flow from operations turned positive at INR12.0
million in FY20 (FY19: negative INR121 million) due to the receipt
of advances from customers. The fund flow from operations remained
positive at INR11.0 million in FY20 (FY19: INR52.0 million). The
net cash cycle elongated to 190 days in FY20 (FY19: 167 days) owing
to an increase in the inventory period to 172 days (143 days). The
company had a cash balance of INR2.3 million at FYE20 (FYE19:
INR1.0 million). RSPL has repayment obligations of INR52.0 million
and INR68.0 million in FY21 and FY22, respectively, which will be
met through net cash accruals and funds from promoters. The company
has availed the Reserve Bank of India-prescribed moratorium.
However, the ratings continue to be supported by the promoters'
decade-long experience in the textile business.
RATING SENSITIVITIES
Negative: A decline in the scale of operations, leading to
deterioration in the credit metrics and/or deterioration in the
liquidity position, will be negative for the ratings.
Positive: An improvement in the scale of operations, leading to an
improvement in the credit metrics and liquidity position, with the
interest coverage exceeding 2.0x, on a sustained basis will be
positive for the ratings.
COMPANY PROFILE
Incorporated in 2015, Tamil Nadu-based RSPL is engaged in yarn
spinning. The company's product portfolio includes combed compact
hosiery and warp yarn in the count range of the 20s, 24s, 30s, 40s,
50s, and up to 60s. Currently, the company has 29 ring frames with
30,576 spindles.
The company sells its product through sales agents, merchant
exporters, and direct sales in Tamil Nadu, Kanpur, West Bengal,
Gujarat, Maharashtra, Kerala, among others.
RAJIV PETROCHEMICALS: Ind-Ra Hikes LongTerm Issuer Rating to 'BB'
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has upgraded Rajiv
Petrochemicals Private Limited's (RPPL) Long-Term Issuer Rating to
'IND BB' from 'IND BB- (ISSUER NOT COOPERATING)'. The Outlook is
Stable.
The instrument-wise rating actions are:
-- INR320 mil. (increased from INR190 mil.) Fund-based limit
upgraded with IND BB/Stable rating; and
-- INR230 mil. (reduced from 280 mil.) Non-fund-based limits
affirmed with IND A4+ rating.
The upgrade reflects the growth in RPPL's revenue and the
improvement in its liquidity profile as well as the working capital
cycle in FY20 (provisional numbers).
KEY RATING DRIVERS
RPPL's revenue increased to INR965.85 million in FY20 (FY19:
INR708.98 million) owing to the receipt of a higher number of
orders. The scale of operations continued to be medium.
Liquidity Indicator - Adequate: RPPL's average utilization of
fund-based limits was 72.68% for the 12 months ended March 2020.
Its fund flow from operations remained positive at INR17.70 million
in FY20 (FY19: INR13.71 million). The cash flow from operation
remained positive and increased to INR162 million during FY20
(FY19: INR156 million) due to a decrease in the working capital
requirements. The cash and cash equivalent stood at INR51 million
in FY20 (FY19: INR82 million). The net working capital cycle
improved to 124 days in FY20 (FY19: 232 days) on account of a
decrease in inventory and receivable days. RPPL has not availed
the Reserve Bank of India-prescribed moratorium.
The ratings reflect the moderate credit metrics due to the modest
EBITDA margins. Despite a decline in the absolute EBITDA to INR51
million in FY20 (FY19: INR65 million; FY18: 65.61 million), the
metrics improved during the year due to a fall in the total debt
levels, and the resultant decline in interest expenses. In FY20,
the net leverage (total adjusted net debt/operating EBITDA) was
3.86x (FY19: 5.61x) and the interest coverage (operating
EBITDA/gross interest expense) was 1.79x (1.42x).
The ratings reflect the modest EBITDA margins due to the trading
nature of business. The margin fell to 5.28% in FY20 (FY19: 9.20%)
due to an increase in raw material costs. The RoCE stood at 8.8% in
FY20 (FY19: 8.5%).
The ratings continue to be supported by the promoter's decade-long
experience in the petrochemical trading business.
RATING SENSITIVITIES
Negative: Any decline in the revenue along with deterioration in
the liquidity position could be negative for the ratings.
Positive: An increase in the revenue along with an improvement in
the liquidity profile and overall credit metrics, with the interest
coverage exceeding 2.5x, on a sustained basis, could be positive
for the ratings.
COMPANY PROFILE
Incorporated in October 1993 by Rajiv Vastupal Mehta, RPPL is part
of the Gujarat-based Rajiv Group. It is engaged in the trading of
polyvinyl chloride resins, low-density polyethylene, and
high-density polyethylene polymers and polyester films.
RAVINDRA BHARATHI: Ind-Ra Moves D Issuer Rating to Non-Cooperating
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Ravindra Bharathi
Educational Society's bank facilities' ratings to the
non-cooperating category. The issuer did not participate in the
rating exercise despite continuous requests and follow-ups by the
agency. Therefore, investors and other users are advised to take
appropriate caution while using these ratings. The rating will now
appear as 'IND D (ISSUER NOT COOPERATING)' on the agency's website.
The detailed rating actions are:
-- INR1,765.33b bil. Bank Loans (Long- term) migrated to non-
cooperating category with IND D (ISSUER NOT COOPERATING)
rating; and
-- INR250 mil. Fund-based working capital (Long- term) migrated
to non-cooperating category with IND D (ISSUER NOT
COOPERATING) rating.
Note: ISSUER NOT COOPERATING: The rating was last reviewed on June
5, 2019. Ind-Ra is unable to provide an update as the agency does
not have adequate information to review the ratings.
COMPANY PROFILE
Ravindra Bharathi Educational Society, registered under the
Societies Registration Act XXI of 1860, established its first
school at Nellore in 1994.
RSI GROUP: CRISIL Migrates 'B+' Debt Ratings to Not Cooperating
---------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of RSI Group
(RSI) to 'CRISIL B+/Stable Issuer not cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit .40 CRISIL B+/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Proposed Long Term 1.60 CRISIL B+/Stable (ISSUER NOT
Bank Loan Facility COOPERATING; Rating Migrated)
CRISIL has been consistently following up with RSI for obtaining
information through letters and emails dated February 29, 2020 and
March 19, 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 RSI, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on RSI 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 RSI to 'CRISIL B+/Stable Issuer not cooperating'.
RSI, established by Mr K. Rajarajan, is a modern trader for various
FMCG companies such as Coca-Cola and Marico. Operations are based
in Chennai.
RUBBER O: CRISIL Migrates 'B+' Debt Ratings to Not Cooperating
--------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Rubber O
Malabar Products Private Limited (ROMPPL) to 'CRISIL
B+/Stable/CRISIL A4 Issuer not cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 7 CRISIL B+/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Long Term Loan 2.75 CRISIL B+/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Packing Credit .25 CRISIL A4 (ISSUER NOT
COOPERATING; Rating Migrated)
CRISIL has been consistently following up with ROMPPL for obtaining
information through letters and emails dated February 29, 2020 and
March 19, 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 ROMPPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on ROMPPL 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 ROMPPL to 'CRISIL B+/Stable/CRISIL A4 Issuer not
cooperating'.
Incorporated in 2011, the firm is engaged in Manufacturing of
Rubber Conveyor Belts and managed by Mohammed Rashid and M. Usman.
SAFAL FLEXIBOND: CRISIL Moves 'D' Debt Ratings to Not Cooperating
-----------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Safal
Flexibond Private Limited (Safal) to 'CRISIL D Issuer not
cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 22.5 CRISIL D (ISSUER NOT
COOPERATING; Rating Migrated)
Term Loan 1.0 CRISIL D (ISSUER NOT
COOPERATING; Rating Migrated)
CRISIL has been consistently following up with Safal for obtaining
information through letters and emails dated February 29, 2020 and
March 19, 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 Safal, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on Safal 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 Safal to 'CRISIL D Issuer not cooperating'.
Safal was established in 2009, by the promoters, Mr Prashant
Thakkar, his brother Mr Hemal Thakkar, and their mother, Mrs Niru
Thakkar. The company manufactures self-adhesive/BOPP tapes. Its
manufacturing unit at Kubadthal in Ahmedabad, has an installed
capacity of 25 crore square metre per annum, of which around 60%
capacity is being utilised currently.
SATYAM AGRO: CRISIL Migrates 'D' Debt Ratings to Not Cooperating
----------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Satyam Agro
Trade Private Limited (SATPL) to 'CRISIL D/CRISIL D Issuer not
cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 4 CRISIL D (ISSUER NOT
COOPERATING; Rating Migrated)
Letter of Credit 7 CRISIL D (ISSUER NOT
COOPERATING; Rating Migrated)
CRISIL has been consistently following up with SATPL for obtaining
information through letters and emails dated February 29, 2020 and
March 19, 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 SATPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SATPL 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 SATPL to 'CRISIL D/CRISIL D Issuer not cooperating'.
Established in the year 2015, SATPL is a private limited company
engaged in trading of imported spices and pulses. It was also
engaged in franchisee sales of the juice brand - 'Onjus' (Tunip
Lanka Pvt. Ltd. - 100% subsidiary of Tunip Agro Limited). The
company majorly caters to the domestic market. The day-to-day
operations of the company are managed by Mr. Arvind Varma and Mrs.
Sarla Varma.
SATYAM EXIMTEX: CRISIL Moves D INR50cr Debt Rating to Not Coop.
---------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Satyam Eximtex
International Private Limited (SEIPL) to 'CRISIL D Issuer not
cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 50 CRISIL D (ISSUER NOT
COOPERATING; Rating Migrated)
CRISIL has been consistently following up with SEIPL for obtaining
information through letters and emails dated February 29, 2020 and
March 19, 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 SEIPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SEIPL 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 SEIPL to 'CRISIL D Issuer not cooperating'.
Furthermore, the company has not paid the fee for conducting rating
surveillance as agreed to in the rating agreement.
Incorporated in 2014, SEIPL is a Mumbai-based company engaged in
trading grey fabrics and cotton yarn. SEIPL has its registered
office in Mumbai and is promoted by the Varma family. Prior to
2014, the company was operating by the name of Amanvir Trading Pvt.
Ltd.
SFPL CROP: CRISIL Moves D INR7.5cr Debt Rating to Not Cooperating
-----------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of SFPL Crop Life
Science Private Limited (SFPL) to 'CRISIL D Issuer not
cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 7.5 CRISIL D (ISSUER NOT
COOPERATING; Rating Migrated)
CRISIL has been consistently following up with SFPL for obtaining
information through letters and emails dated February 29, 2020 and
March 19, 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 SFPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SFPL 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 SFPL to 'CRISIL D Issuer not cooperating'.
SFPL was incorporated in 1999 as Subhash Fertilizers Pvt Ltd and
was later renamed as SFPL. The company is a fully owned subsidiary
of KSPL, which produces and markets seeds for the commercial seed
market. SFPL manufactures nitrogen, phosphorus, and potassium mixed
fertilizers. It is the sole distributor of hybrid vegetable seeds
of group company Krishnadhan Vegetable Seeds India Pvt Ltd across
India.
SHANTI COLD: CRISIL Migrates 'B-' Debt Ratings to Not Cooperating
-----------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Shanti Cold
Storage & Ice Factory (SCSIF) to 'CRISIL B-/Stable Issuer not
cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Proposed Long Term
Bank Loan Facility .25 CRISIL B-/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Term Loan 5.45 CRISIL B-/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
CRISIL has been consistently following up with SCSIF for obtaining
information through letters and emails dated February 29, 2020 and
March 19, 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 SCSIF, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SCSIF 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 SCSIF to 'CRISIL B-/Stable Issuer not cooperating'.
Incorporated in 2018, SCSIF is engaged in cold storage in Madhya
Pradesh. It is promoted and managed by Mr. Anuj Gupta.
SHELL APPARELS: Ind-Ra Lowers Long Term Issuer Rating to 'BB+'
--------------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded Shell Apparels
Private Limited's (Shell) Long-Term Issuer Rating to 'IND BB+' from
'IND BBB-'. The Outlook is Stable.
The instrument-wise rating actions are:
-- INR360 mil. (increased from INR270.0 mil.) Fund-based working
capital limits downgraded with IND BB+/Stable/IND A4+ rating;
-- INR20 mil. Non-fund-based facilities downgraded with IND A4+
rating; and
-- INR120 mil. (reduced from INR174.4 mil.) Term loan due on July
2023 downgraded with IND BB+/Stable rating.
KEY RATING DRIVERS
The downgrade reflects the deterioration in Shell's credit metrics
over 9MFY20 and the likelihood of the metrics having weakened
further by the end of FY20 (provisional numbers), primarily due to
higher total debt, as the company had enhanced the working capital
borrowings to meet increased requirements. The interest coverage
(operating EBITDA/gross interest expense) of the company was 2.5x
in 9MFY20, (FY19:3.3x; FY18:2.7x) and is likely to have been at
similar levels in FY20. The net leverage (total adjusted net
debt/operating EBITDAR) is likely to have been 3.9x in FY20
(FY19:3.7x; FY18: 3.4x). Ind-Ra expects the credit metrics to
deteriorate further in FY21 on account of the likely fall in the
operating EBITDA, resulting from the operational disruptions due to
nationwide lockdown, and high debt levels.
Liquidity Indicator - Stretched: Shell's average utilization of its
fund-based limits was 96.3% over the 12 months ended April 2020.
The company availed Adhoc limits during certain months to meet its
immediate working capital requirements. The free cash flow from
operations remained negative over FY18-FY19 on account of
continuous CAPEX incurred by the company and is estimated to have
continued to be negative at end-FY20. The net cash conversion cycle
of the company stretched to 120 days in FY19 (FY18: 113 days) on
account of an increase in debtor days to 30 days (FY18:18 days), as
the company provided an extended credit period to its customers and
a reduction in the creditor days to 18 days (30 days). The net cash
conversion cycle of the company is likely to have stretched in FY20
and might continue to elongate in FY21 due to delays in collecting
receivables from the customers.
As per the management, Shell had outstanding receivables of INR206
million as of March 31, 2020; out of this, the company had received
INR25 million-30 million as of May 19, 2020, and the remaining is
likely to be received shortly. The management also stated the
payments to suppliers will be made once the company secures the
receivables from the customers. Hence, the ability of the company
to realize the receivables on time to support the liquidity will
remain a key monitorable. The company has availed the Reserve Bank
of India-prescribed moratorium for the long term facilities over
March 2020 - August 2020 and has also requested for Adhoc limits to
meet its fixed expenses. The company has a repayment obligation of
INR34.2 million for FY21, which is likely to be serviced through
its internal accruals.
The rating factor in Shell's continued medium scale of operations.
The revenue is likely to have fallen to INR1,810 million in FY20
(9MFY20: INR1,368.3 million; FY19: INR1,992 million; FY18: INR1,771
million) due to the shut-down of operations due to the COVID-19-led
lockdown. Ind-Ra expects the revenue of the company to continue to
decrease in FY21 for the same reason. As per the management, the
company had orders in hand of INR280 million as of May 2020 which
is likely to be executed within two months after the resumption of
operations.
The ratings reflect the modest EBITDA margins on account of intense
competition in the industry. The company reported a margin of 7.7%
in 9MFY20 (FY19:6.5%; FY18:7.2%). The margin is likely to have been
in the range of 6.5%-6.8% in FY20. Considering the pandemic-related
lockdown, the margins are likely to deteriorate in FY21. The ROCE
was 11% in FY19 (FY18: 13%)
However, the ratings benefit from the company's long-term
association with reputed brands such as Kontoor Brands India Pvt
Ltd (rest while VF Brands India Pvt. Ltd), Arvind Lifestyle Brands
Pvt Ltd, ITC Limited, etc., which have enabled it to secure repeat
orders.
The ratings are also supported by the promoters' experience of more
than two decades in the readymade garments manufacturing industry.
RATING SENSITIVITIES
Negative: A sharper-than-expected deterioration in the operating
performance and/or stretch in the working capital cycle, leading to
further deterioration in the credit metrics and liquidity position,
will lead to negative rating action.
Positive: An increase in the scale of operations and operating
EBITDA, leading to an improvement in the credit metrics, with the
net leverage falling below3.5x, on a sustained basis, and an
improvement in the liquidity position would lead to positive rating
action.
COMPANY PROFILE
Headquartered in Bengaluru, Shell is primarily engaged in garment
manufacturing. It manufactures bottom wears, both denim, and
non-denim, which cater to all age groups of men. Shell is largely
focused on the domestic market. The company has an in-house
manufacturing unit for knitwear in Bengaluru, Chikkaballapur, and
Melur in Karnataka, with an aggregate manufacturing capacity of
3,420,000 pieces per annum.
SHIVA SHREE: CRISIL Migrates 'D' Debt Ratings to Not Cooperating
----------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Shiva Shree
Builders (SSB) to 'CRISIL D Issuer not cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 8 CRISIL D (ISSUER NOT
COOPERATING; Rating Migrated)
Project Loan 1.9 CRISIL D (ISSUER NOT
COOPERATING; Rating Migrated)
Proposed Long Term 2.93 CRISIL D (ISSUER NOT
Bank Loan Facility COOPERATING; Rating Migrated)
Term Loan 3.17 CRISIL D (ISSUER NOT
COOPERATING; Rating Migrated)
CRISIL has been consistently following up with SSB for obtaining
information through letters and emails dated February 29, 2020 and
March 19, 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 SSB, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SSB 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 SSB to 'CRISIL D Issuer not cooperating'.
SSB was set up in 1990, promoted by Mr V Shivarajan and his family
members. The firm is currently developing residential real estate
projects in Coimbatore, Tamil Nadu.
SHREE TRIBHUVAN: Ind-Ra Lowers Long Term Issuer Rating to 'B+'
--------------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded Shree Tribhuvan
Ispat Private Limited's (STIPL) Long-Term Issuer Rating to 'IND B+'
from 'IND BB- (ISSUER NOT COOPERATING)'. The Outlook is Stable.
The instrument-wise rating action is:
-- INR100 mil. Fund-based working capital limit downgraded with
IND B+/Stable/IND A4 rating.
The downgrade reflects STIPL's poor liquidity, as a result of which
it had to avail a temporary overdraft thrice in FY20. It also
reflects Ind-Ra's estimated decline in its revenue and interest
coverage during FY20 due to a fall in demand from customers and an
increase in interest expenses, and further deterioration in FY21
due to the uncertainty in the business environment amid the
COVID-19-led lockdown. The lockdown could exert further pressure on
STIPL's near-term liquidity and adversely impact its sales and
profitability.
KEY RATING DRIVERS
Liquidity Indicator - Poor: STIPL's average utilization of
fund-based limit was high at around 96% during the 12 months ended
March 2020. Its cash flow from operations turned negative to
INR19.81 million during FY19 (FY18: INR12.86 million) owing to
changes in working capital. Cash and cash equivalents stood at
INR1.97 million at FYE19 (FYE18: INR4.33 million). Its working
capital cycle improved but remained long at 81 days in FY19 (FY18:
109 days) due to a shorter inventory holding period of 53 days (71
days) and a better realization from debtors that stood at 47 days
(70 days). STIPL has availed the Reserve Bank of India-prescribed
moratorium on its fund-based facility for three months starting
April 2020.
In FY19, the company's scale of operations remained medium with the
revenue growth to INR683.43 million (FY18: INR445.41 million) on
the higher number of orders received from customers. However,
according to the management, STIPL's revenue is likely to have
declined to INR605.61 million in FY20 since the company could not
operate for some days in March 2020 due to the lockdown that
impacted its sales by nearly 10% and led to a decline in the orders
from customers. The revenue could have declined in FY20 also due to
a short-term ban imposed by the Supreme Court on construction
activities in November 2019; STIPL's end users are majorly from the
infrastructure segment.
STIPL's EBITDA margin was modest at 1.64% in FY19 (FY18: 2.49%)
with a return on capital employed of 6.7% (6.8%). Despite the
increase in revenue in FY19, the margin declined due to an increase
in raw material costs, which the company was unable to pass on to
its customers completely. However, the margins are likely to have
improved in FY20 due to a decline in raw material prices.
The company's credit metrics continued to be weak in FY19 with only
a marginal improvement in the interest coverage (operating
EBITDA/gross interest expense) to 1.19x in FY19 (FY18: 1.12x) on
account of lower interest obligations. However, the net leverage
deteriorated (adjusted net debt/operating EBITDAR) to 8.76x (7.09x)
due to an increase in the total debt to INR100.34 million (INR
82.86 million) to fund working capital requirements. The net
leverage is likely to have remained weak and the interest coverage
is likely to have deteriorated due to an increase in interest
expenses in FY20.
STIPL will incur capex of INR200 million in FY22 for forward
integration that involves setting up a rolling mill that will
consequently improve its scale of operations. The capex will be
funded by a term loan of INR160 million and an unsecured loan of
INR40 million. In view of the CAPEX and a likely increase in the
fund-based limits, Ind-Ra expects that any time and cost overrun in
CAPEX implementation to lead to deterioration in STIPL's credit
profile.
However, the ratings continue to be supported by the
two-decade-long experience of STIPL's directors in the
manufacturing of steel, leading to strong relationships with its
customers and suppliers.
RATING SENSITIVITIES
Positive: Successful CAPEX implementation, leading to an
improvement in the scale of operations and the overall credit
profile with interest coverage above 1.7x will lead to positive
rating action.
Negative: Any time and cost overrun in CAPEX implementation,
leading to deterioration in the credit metrics and liquidity
profile, will be negative for 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.
SOVA ELECTROCASTING: CRISIL Moves B INR25cr Debt Rating to Not Coop
-------------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Sova
Electrocasting Limited (SEPL) 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 SEPL for obtaining
information through letters and emails dated February 29, 2020 and
March 19, 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 SEPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SEPL 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 SEPL to 'CRISIL B/Stable Issuer not cooperating'.
Sova Electrocasting Private Limited (SEPL) incorporated in fiscal
1997 was taken over by the present management in July 2006 is
primarily engaged in manufacturing of TMT Bars.
VARDHMAN INDUSTRIES: CRISIL Keeps 'D' Debt Ratings in Not Coop.
---------------------------------------------------------------
CRISIL said the ratings on bank facilities of Vardhman Industries
Limited (VIL) continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 74.65 CRISIL D (ISSUER NOT
COOPERATING)
Letter of Credit 47 CRISIL D (ISSUER NOT
COOPERATING)
Long Term Loan 52.03 CRISIL D (ISSUER NOT
COOPERATING)
Proposed Long Term 6.32 CRISIL D (ISSUER NOT
Bank Loan Facility COOPERATING)
CRISIL has been consistently following up with VIL for obtaining
information through letters and emails dated November 30, 2019 and
April 11, 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 VIL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on VIL is consistent
with 'Scenario 4' outlined in the 'Framework for Assessing
Consistency of Information'.
Based on the last available information, the ratings on bank
facilities of VIL continues to be 'CRISIL D/CRISIL D Issuer not
cooperating'.
Promoted by Mr Kapil Jain, VIL's manufacturing facilities are in
Ludhiana. It manufactures GP and GC sheets, and colour-coated
sheets. VIL is listed on the Bombay Stock Exchange.
=========
J A P A N
=========
[*] JAPAN: 20% of Restaurants May Fail Amid Coronavirus Pandemic
----------------------------------------------------------------
Reuters reports that Takeshi Niinami, the head of Japanese drinks
and food group Suntory Holdings and a government adviser, predicted
on June 5 that more than 20% of bars and restaurants could fail due
to the coronavirus pandemic.
Japan's vibrant dining scene, from tapas style izakaya pubs and
restaurants to Tokyo's high-end eateries boasting the largest
number of Michelin stars of any city, mostly shut down in April as
the government declared a state of emergency, the report says.
Even with the emergency status lifted, many restaurants are
reopening with caution and with limiting seating and opening hours
as customers remain wary of dining out. Mr. Niinami said he feared
the country's eating-out culture could be hurt for good, Reuters
relays.
"If you ask me how much will return, I'd say roughly, around 80%
will be back," Niinami, an economic adviser to Prime Minister
Shinzo Abe's government, told Reuters in an interview.
According to Reuters, Mr. Niinami said that while the government's
$1.1 trillion extra spending package approved last month was
substantial, the government needed to be ready to provide more if a
second wave of infections were to hit.
"I think it would be good to have 80% of them return, although of
course I really want 100% back," Reuters quotes Mr. Niinami as
saying. "Given the current coronavirus situation, what I'd like to
see is for them to make it through the next two to three years
until we can allow for more noisy, intimate get-togethers."
Reuters says privately-owned Suntory is dependent on the survival
of Japan's dining industry, worth JPY25 trillion by some estimates,
as an outlet for its drinks including Yamazaki whisky and Laphroaig
single malt Scotch as well as Premium Malt's beer.
Reuters relates that the company is backing a new dining app called
Saki-meshi, meaning meal in the future. It allows consumers to
support their favorite restaurants by paying for meals up to 180
days in advance, to provide restaurants with much needed cash to
survive until business returns.
Mr. Niinami added his weight to calls for easier access to
coronavirus tests, to allow people to more confidently resume
business activity.
The Japanese government has been widely criticized at home for its
lack of testing, although the country appears so far to have
escaped an explosive outbreak with around 910 deaths so far,
Reuters adds.
=====================
P H I L I P P I N E S
=====================
VICTORIA COURT: To Shutter Some Branches Due to Pandemic
--------------------------------------------------------
BusinessWorld Online reports that several branches of motel
operator Victoria Court under Angelina Mead King are closing
because of the pandemic, while branches under her brother, Atticus
King, will still be operational but will be retrenching employees,
according to two separate videos shared on social media.
"I don't think that hotel and motel operations will be able to
produce the same results as how we used to," BusinessWorld quotes
Ms. Mead King as saying in a video addressed to her employees which
made rounds of social media on June 2.
BusinessWorld says Ms. Mead King handles the operations for three
Victoria Court branches: Taft, Pasay, and Malate while the rest are
under Mr. King.
Despite housing medical frontliners so they can stay closer to
their hospitals and Overseas Filipino Workers (OFW) who are
completing their mandatory 14-day quarantine, Ms. Mead King that
it's "still not enough for the business to sustain itself and take
care of all of us."
"We all have to go into survival mode. It is better for us to
prepare for this now, rather than ignore it," she said.
Her group will be preparing the employees' retirement and
retrenchment packages over the next few weeks to help them "survive
the next few months," and she advised them to look for other jobs,
the report relates. She then assured them that "when the business
does re-open again," the displaced employees will be the first ones
the company will be calling back.
"Please don't think that we have come to this decision lightly. It
was a great difficulty. I want to let you know that we value all
your hard work and loyalty that you have given during my
management. And I really wish there was another way to go about
this," Ms. Mead said.
Ms. Mead King told BusinessWorld in an e-mail that the video was
supposed to be private and was not meant for the public and that
she will be making an official announcement soon.
The King family has been in the motel business since businessman
Angelo King opened Anito Lodge in Pasay City in 1975. When his
sons, Archimedes and Wyden, joined the company, it expanded with
the openinbg of Akasya Lodge in Sta. Mesa, Manila in 1984. A year
later, the company opened Anito Royale and Anahaw and the first
Victoria Court in Pasig. The Victoria Court brand is known for its
themed rooms.
Victoria Court is now under the management of both Ms. Mead King
and Atticus King.
=================
S I N G A P O R E
=================
HYFLUX LTD: Unit Gets Notice of Termination for Algerian Contract
-----------------------------------------------------------------
The Business Times reports that Hyflux Ltd said on June 5 that one
of its units has received a notice of termination in respect of the
operations and maintenance (O&M) contract for its Magtaa seawater
desalination plant in Algeria.
BT relates that the notice was issued by the owner of the project,
Tahlyat Myah Magtaa (TMM), and specifies that Hyflux Operation &
Maintenance Algeria, a wholly-owned unit of Hyflux, has 40 days to
cure certain purported events of default under the O&M contract,
failing which TMM would terminate the O&M contract.
Hyflux has a 47 per cent shareholding interest in TMM, the report
notes.
According to BT, Hyflux Operation & Maintenance Algeria said that
it does not agree with or accept the allegations made in the notice
and will seek advice on enforcement and protection of its rights in
the project.
The purported termination, if put into effect by TMM, is expected
to have a material impact on the group's financial performance for
the year ending Dec. 31, 2020, BT relays.
About Hyflux
Singapore-based Hyflux Ltd -- https://www.hyflux.com/ -- provides
various solutions in water and energy areas worldwide. The company
operates through two segments, Municipal and Industrial. The
Municipal segment supplies a range of infrastructure solutions,
including water, power, and waste-to-energy to municipalities and
governments. The Industrial segment supplies infrastructure
solutions for water to industrial customers. It has business
operations across Asia, Middle East and Africa.
As reported in the Troubled Company Reporter-Asia Pacific on May
24, 2018, Hyflux Ltd. said that the Company and five of its
subsidiaries, namely Hydrochem (S) Pte Ltd, Hyflux Engineering Pte
Ltd, Hyflux Membrane Manufacturing (S) Pte. Ltd., Hyflux Innovation
Centre Pte. Ltd. and Tuaspring Pte. Ltd. have applied to the High
Court of the Republic of Singapore pursuant to Section 211B(1) of
the Singapore Companies Act to commence a court supervised process
to reorganize their liabilities and businesses. The Company said
it is taking this step in order to protect the value of its
businesses while it reorganises its liabilities.
The Company engaged WongPartnership LLP as legal advisors and Ernst
& Young Solutions LLP as financial advisors in this process. On
Jan. 29, WongPartnership applied to discharge themselves due to
difficulties relating to "loss of confidence and good cause" in
working with the client. The Company subsequently appointed
Clifford Chance and Cavenagh Law as its legal advisers in WongP's
place.
In November 2019, Hyflux entered into a restructuring deal with
United Arab Emirates-based utility Utico FZC, according to Reuters.
===============
T H A I L A N D
===============
THAI AIRWAYS: Government Panel Step Up to Help Carrier
------------------------------------------------------
Bangkok Post reports that a government panel is stepping up to help
debt-ridden Thai Airways International Plc (THAI) pass any
regulatory and contractual hurdles ahead of the national carrier's
planned debt rehabilitation, according to Prapas Kong-Ied,
director-general of the State Enterprise Policy Office (Sepo).
A state-appointed committee following up on the airline's
rehabilitation, headed by Deputy Prime Minister Wissanu Krea-ngam
and with Mr. Prapas sitting as a member, will arrange the help, he
said, Bangkok Post relays.
According to the report, the troubled airline turned to the
government because it has many contracts with trading partners and
legal obligations that can only be resolved with the state's help.
These problems should be cleared before THAI enters rehabilitation,
Mr Prapas said on June 4.
Bangkok Post relates that Mr. Prapas said the airline formally
asked the Wissanu committee to coordinate with the government
during a meeting on June 8 when THAI acting president Chakkrit
Parapuntaku presented a progress report on the carrier's
rehabilitation plan which will next go to the Central Bankruptcy
Court (CBC).
THAI needs to stay in business to generate revenue and pay off
THB244.9 billion of outstanding debt to national and international
creditors, the report says.
The airline will address the court and try to convince creditors
the rehabilitation plan will work, Mr. Prapas said.
Bangkok Post says the airline specifically needs the government's
help in reallocating slots for its flights.
The Transport Ministry will have a say on what could be done in
this area, Mr. Prapas added.
According to Bangkok Post, Mr. Prapas said the Foreign Affairs
Ministry will notify the authorities in countries where THAI
provides services about the airline's rehabilitation before the
bankruptcy court.
This will prevent THAI's aircraft from being impounded by overseas
creditors.
Currently, 31 of its aircraft are on financing leases and another
39 are on operating leases, the report notes.
Bangkok Post adds that the Wissanu panel will take up the issue
with the Foreign Affairs Ministry which will appeal to foreign
countries where THAI is present to help prevent its aircraft being
seized by creditors.
The ministry will explain that THAI has been covered by an
automatic stay order since it filed for rehabilitation under the
kingdom's bankruptcy law, he said.
The Wissanu panel will try to remove potential legal quagmires for
THAI and reinforce its defence during rehab proceedings in court,
Mr. Prapas, as cited by Bangkok Post, said.
"We will do what we can to clear up issues so the rehab plan can go
ahead," Mr. Prapas said, insisting the follow-up panel will act
only as a facilitator.
About Thai Airways
Thai Airways International PCL (BAK:THAI) --
http://www.thaiairways.co.th/-- is the national carrier of
Thailand. The company provides air transportation, freight and
mail services on domestic and international routes including Asia,
Europe, North America, Africa and South West Pacific. The Company
is a state enterprise which is controlled by the government and
partly owned by the public.
As reported in Troubled Company Reporter-Asia Pacific on May 21,
2020, Reuters said Thailand's cabinet approved a plan to
restructure troubled Thai Airways International Pcl's finances
through a bankruptcy court, the Southeast Asian country's prime
minister said on May 19. The plan for a court-led restructuring of
the national carrier replaces a previous proposal of a
government-backed rescue package that was heavily criticised in the
country.
Thai Airways posted losses every year after 2012, except in 2016.
In 2019, it reported losses of THB12.04 billion.
===============
X X X X X X X X
===============
[*] BOND PRICING: For the Week June 1, 2020 to June 5, 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 0.97
KEYBRIDGE CAPITAL LTD 7.00 07/31/20 AUD 0.95
MIDWEST VANADIUM PTY L 13.25 02/15/18 USD 0.15
PALADIN ENERGY LTD 10.00 02/01/23 USD 52.48
PALADIN ENERGY LTD 10.00 02/01/23 USD 52.48
VIRGIN AUSTRALIA HOLDI 8.00 11/26/24 AUD 14.86
VIRGIN AUSTRALIA HOLDI 8.08 03/05/24 AUD 19.55
VIRGIN AUSTRALIA HOLDI 8.25 05/30/23 AUD 43.61
VIRGIN AUSTRALIA HOLDI 8.13 11/15/24 USD 14.90
VIRGIN AUSTRALIA HOLDI 8.13 11/15/24 USD 14.65
VIRGIN AUSTRALIA HOLDI 7.88 10/15/21 USD 15.77
VIRGIN AUSTRALIA HOLDI 7.88 10/15/21 USD 13.49
CHINA
-----
AKESU DISTRICT GREEN I 4.09 03/11/23 CNY 60.95
AKESU DISTRICT GREEN I 4.09 03/11/23 CNY 60.87
AKESU XINCHENG ASSET I 6.40 04/20/22 CNY 40.52
AKESU XINCHENG ASSET I 6.40 04/20/22 CNY 40.00
ALTAY PREFECTURE STATE 4.85 01/22/23 CNY 60.70
ALTAY PREFECTURE STATE 4.85 01/22/23 CNY 59.98
AN SHUN YU KUN REAL ES 5.48 11/10/21 CNY 66.31
ANHUI FOREIGN ECONOMIC 7.30 12/24/21 CNY 11.91
ANHUI FOREIGN ECONOMIC 7.30 07/13/21 CNY 70.01
ANHUI PINGTIANHU INVES 7.40 10/23/20 CNY 20.19
ANHUI PINGTIANHU INVES 7.40 10/23/20 CNY 19.60
ANHUI PROVINCE TONGLIN 7.30 05/13/21 CNY 47.18
ANHUI PROVINCE TONGLIN 7.30 05/13/21 CNY 40.62
ANJI COUNTY STATE-OWNE 8.30 04/24/21 CNY 24.57
ANJI COUNTY STATE-OWNE 8.30 04/24/21 CNY 20.69
ANQING ECONOMIC&TECHNO 4.09 03/09/23 CNY 60.88
ANQING ECONOMIC&TECHNO 4.09 03/09/23 CNY 59.92
ANQING URBAN CONSTRUCT 6.01 04/27/22 CNY 41.61
ANQING URBAN CONSTRUCT 6.01 04/27/22 CNY 40.00
BAOJI HI-TECH INDUSTRI 8.25 04/21/21 CNY 20.68
BAOJI HI-TECH INDUSTRI 8.25 04/21/21 CNY 20.00
BAOTOU CITY SCIENCE ED 6.48 03/25/22 CNY 45.50
BAOTOU CITY SCIENCE ED 6.48 03/25/22 CNY 41.25
BAOYING CITY CONSTRUCT 4.50 03/24/23 CNY 61.39
BAOYING CITY CONSTRUCT 4.50 03/24/23 CNY 61.36
BAYAN ZHUOER HETAO WAT 8.54 03/31/22 CNY 31.85
BAZHONG STATE-OWNED AS 5.13 12/02/22 CNY 60.89
BAZHONG STATE-OWNED AS 5.13 12/02/22 CNY 60.00
BAZHONG STATE-OWNED AS 8.50 04/25/21 CNY 21.20
BAZHONG STATE-OWNED AS 8.50 04/25/21 CNY 20.77
BEIJING BIOMEDICINE IN 6.35 07/23/20 CNY 20.40
BEIJING BIOMEDICINE IN 6.35 07/23/20 CNY 20.12
BEIJING CAPITAL DEVELO 6.50 02/27/21 CNY 20.83
BEIJING CAPITAL DEVELO 6.50 02/27/21 CNY 20.54
BEIJING CAPITAL DEVELO 7.19 01/15/21 CNY 20.60
BEIJING CAPITAL DEVELO 7.19 01/15/21 CNY 20.00
BEIJING CHANGXIN CONST 6.74 04/22/21 CNY 20.80
BEIJING FUTURE SCIENCE 4.20 08/13/22 CNY 61.13
BEIJING FUTURE SCIENCE 4.20 08/13/22 CNY 60.90
BEIJING GUCAI GROUP CO 6.60 09/06/20 CNY 23.68
BEIJING GUCAI GROUP CO 6.60 09/06/20 CNY 20.16
BEIJING HAIDIAN STATE- 5.50 08/07/20 CNY 20.15
BEIJING HAIDIAN STATE- 5.50 08/07/20 CNY 20.11
BEIJING JINGMEI GROUP 6.14 09/09/20 CNY 20.28
BEIJING JINGMEI GROUP 6.14 09/09/20 CNY 20.27
BEIJING JINLIYUAN STAT 7.00 10/28/20 CNY 20.42
BEIJING JINLIYUAN STAT 7.00 10/28/20 CNY 20.00
BEIJING SHIJINGSHAN ST 6.08 08/18/21 CNY 43.87
BEIJING SHIJINGSHAN ST 6.08 08/18/21 CNY 41.11
BEIJING XINCHENG INFRA 7.50 04/21/21 CNY 20.82
BEIJING XINGZHAN INVES 6.66 04/24/21 CNY 20.75
BEIPIAO CITY CONSTRUCT 6.70 03/25/23 CNY 63.45
BEIPIAO CITY CONSTRUCT 6.70 03/25/23 CNY 52.56
BENGBU GAOXIN INVESTME 8.70 04/17/21 CNY 20.75
BENGBU GAOXIN INVESTME 8.70 04/17/21 CNY 20.00
BENXI URBAN CONSTRUCTI 6.24 01/22/22 CNY 40.60
BENXI URBAN CONSTRUCTI 6.24 01/22/22 CNY 40.00
BIJIE CONSTRUCTION INV 6.50 01/28/22 CNY 45.65
BIJIE CONSTRUCTION INV 6.50 01/28/22 CNY 41.26
BIJIE KAIYUAN CONSTRUC 7.78 02/25/21 CNY 30.00
BIJIE KAIYUAN CONSTRUC 7.78 02/25/21 CNY 20.58
BINZHOU HI-TECH DEVELO 8.60 01/10/21 CNY 23.40
BINZHOU HI-TECH DEVELO 8.60 01/10/21 CNY 20.53
BINZHOU ZHONGHAI VENTU 6.65 04/13/22 CNY 40.95
BINZHOU ZHONGHAI VENTU 6.65 04/13/22 CNY 40.00
BORALA MONGOL AUTONOMO 5.77 08/26/22 CNY 61.22
BORALA MONGOL AUTONOMO 5.77 08/26/22 CNY 59.50
BORALA MONGOL AUTONOMO 7.18 08/09/20 CNY 20.17
BORALA MONGOL AUTONOMO 7.18 08/09/20 CNY 20.00
BOZHOU URBAN CONSTRUCT 4.78 04/14/23 CNY 61.73
BOZHOU URBAN CONSTRUCT 4.78 04/14/23 CNY 60.86
CANGNAN COUNTY STATE O 5.58 11/11/22 CNY 68.00
CANGNAN COUNTY STATE O 5.58 11/11/22 CNY 60.60
CEFC SHANGHAI INTERNAT 4.08 09/09/21 CNY 60.00
CEFC SHANGHAI INTERNAT 4.98 12/10/20 CNY 61.29
CHANG DE DING LI INDUS 4.30 03/10/23 CNY 61.11
CHANG DE DING LI INDUS 4.30 03/10/23 CNY 60.96
CHANGCHUN MODERN AGRIC 7.00 07/25/21 CNY 40.72
CHANGCHUN MODERN AGRIC 7.00 07/25/21 CNY 38.00
CHANGDE ECONOMIC CONST 7.00 03/24/21 CNY 21.40
CHANGDE ECONOMIC CONST 7.00 03/24/21 CNY 20.66
CHANGDE URBAN CONSTRUC 3.59 01/12/23 CNY 60.64
CHANGDE URBAN CONSTRUC 3.59 01/12/23 CNY 60.40
CHANGLE COUNTY NEWTOWN 5.18 12/16/22 CNY 62.03
CHANGLE COUNTY NEWTOWN 5.18 12/16/22 CNY 60.84
CHANGSHA COUNTY XINGCH 7.90 03/25/22 CNY 42.89
CHANGSHA COUNTY XINGCH 7.90 03/25/22 CNY 42.80
CHANGSHA ECONOMIC & TE 8.45 04/13/22 CNY 31.50
CHANGSHA FURONG CITY D 3.88 01/26/23 CNY 61.53
CHANGSHA FURONG CITY D 3.88 01/26/23 CNY 59.73
CHANGSHA METRO GROUP C 6.20 04/23/23 CNY 47.87
CHANGSHA METRO GROUP C 6.20 04/23/23 CNY 45.80
CHANGSHA TIANXIN CITY 4.20 11/06/22 CNY 60.59
CHANGSHA TIANXIN CITY 4.20 11/06/22 CNY 60.10
CHANGSHA YUHUA URBAN C 3.80 01/28/23 CNY 60.34
CHANGSHA YUHUA URBAN C 3.80 01/28/23 CNY 59.77
CHANGSHA YUHUA URBAN C 7.17 04/18/21 CNY 24.00
CHANGSHA YUHUA URBAN C 7.17 04/18/21 CNY 20.80
CHANGSHU BINJIANG URBA 6.39 09/11/21 CNY 40.67
CHANGSHU BINJIANG URBA 6.39 09/11/21 CNY 40.00
CHANGSHU DONGNAN ASSET 6.53 03/26/22 CNY 47.32
CHANGSHU DONGNAN ASSET 6.53 03/26/22 CNY 41.69
CHANGSHU TRANSPORTATIO 7.00 04/29/21 CNY 40.92
CHANGSHU TRANSPORTATIO 7.00 04/29/21 CNY 27.00
CHANGXING COUNTY TRANS 6.75 06/16/21 CNY 40.70
CHANGXING COUNTY TRANS 7.88 04/30/21 CNY 40.95
CHANGXING COUNTY TRANS 7.88 04/30/21 CNY 30.30
CHANGXING URBAN CONSTR 6.00 12/03/21 CNY 40.59
CHANGXING URBAN CONSTR 6.00 12/03/21 CNY 39.00
CHANGZHOU BINHU CONSTR 8.04 12/12/20 CNY 20.62
CHANGZHOU BINHU CONSTR 8.04 12/12/20 CNY 20.00
CHANGZHOU PUBLIC HOUSI 6.64 07/02/21 CNY 40.52
CHANGZHOU PUBLIC HOUSI 6.64 07/02/21 CNY 40.50
CHANGZHOU TIANNING CON 6.48 02/12/22 CNY 41.45
CHANGZHOU TIANNING CON 6.48 02/12/22 CNY 40.00
CHAOHU URBAN TOWN CONS 6.50 04/30/22 CNY 42.11
CHAOHU URBAN TOWN CONS 6.50 04/30/22 CNY 42.10
CHENGDU ECONOMIC & TEC 6.90 05/30/21 CNY 46.00
CHENGDU ECONOMIC & TEC 6.90 05/30/21 CNY 40.91
CHENGDU GARDEN WATER C 6.15 05/03/23 CNY 60.63
CHENGDU KONGGANG CITY 6.92 07/30/20 CNY 25.50
CHENGDU KONGGANG CITY 6.92 07/30/20 CNY 25.20
CHENGDU LONGBO INVESTM 8.10 04/24/21 CNY 20.65
CHENGDU LONGBO INVESTM 8.10 04/24/21 CNY 20.30
CHENGDU PIDU DISTRICT 6.95 04/01/22 CNY 48.83
CHENGDU PIDU DISTRICT 6.95 04/01/22 CNY 41.70
CHENGDU PIDU DISTRICT 7.25 10/15/20 CNY 20.35
CHENGDU PIDU DISTRICT 7.25 10/15/20 CNY 18.50
CHENGDU SHUZHOU CITY C 6.58 05/26/22 CNY 61.29
CHENGDU SHUZHOU CITY C 6.58 05/26/22 CNY 59.30
CHENGDU XINGCHENGJIAN 6.00 03/20/22 CNY 41.60
CHENGDU XINGCHENGJIAN 6.00 03/20/22 CNY 40.00
CHENGDU XINKAIYUAN URB 5.29 04/27/23 CNY 81.28
CHENGDU XINKAIYUAN URB 5.29 04/27/23 CNY 61.23
CHENGDU XINKAIYUAN URB 7.43 08/12/21 CNY 41.19
CHENGDU XINKAIYUAN URB 7.43 08/12/21 CNY 41.00
CHENGFA INVESTMENT GRO 6.87 04/30/21 CNY 21.37
CHENGFA INVESTMENT GRO 6.87 04/30/21 CNY 20.78
CHENZHOU BAIFU INVESTM 6.54 08/28/21 CNY 40.25
CHENZHOU BAIFU INVESTM 6.54 08/28/21 CNY 40.24
CHENZHOU FUCHENG HIGH 4.73 01/22/23 CNY 60.68
CHENZHOU FUCHENG HIGH 4.73 01/22/23 CNY 59.92
CHENZHOU INDUSTRY INVE 6.45 01/23/22 CNY 48.60
CHENZHOU INDUSTRY INVE 6.45 01/23/22 CNY 39.92
CHENZHOU XINTIAN INVES 5.38 03/08/26 CNY 74.96
CHENZHOU XINTIAN INVES 6.15 04/24/22 CNY 39.41
CHENZHOU XINTIAN INVES 6.30 07/17/20 CNY 20.00
CHENZHOU XINTIAN INVES 6.30 07/17/20 CNY 20.00
CHINA GRAND AUTOMOTIVE 8.63 04/08/22 USD 81.25
CHINA MINSHENG INVESTM 7.00 12/26/20 CNY 36.65
CHINA OCEANWIDE HOLDIN 8.90 12/13/21 CNY 55.00
CHINA SECURITY CO LTD 4.45 11/11/19 CNY 31.00
CHINA YIXING ENVIRONME 7.10 10/18/20 CNY 20.40
CHINA YIXING ENVIRONME 7.10 10/18/20 CNY 20.36
CHONGQIN BAIYAN INVEST 5.75 05/03/23 CNY 61.58
CHONGQIN XINLIANG INVE 4.76 08/26/23 CNY 75.82
CHONGQIN XINLIANG INVE 4.76 08/26/23 CNY 56.59
CHONGQING BANAN ECONOM 6.17 03/13/22 CNY 41.40
CHONGQING BANAN ECONOM 6.17 03/13/22 CNY 41.07
CHONGQING BANAN ECONOM 7.00 08/20/21 CNY 41.10
CHONGQING BANAN ECONOM 7.00 08/20/21 CNY 41.01
CHONGQING BEICHENG CON 7.30 10/16/20 CNY 20.35
CHONGQING BEICHENG CON 7.30 10/16/20 CNY 20.30
CHONGQING BISHAN DISTR 4.93 03/29/23 CNY 61.25
CHONGQING BISHAN DISTR 4.93 03/29/23 CNY 61.10
CHONGQING CHANGSHOU EC 7.20 07/15/21 CNY 40.79
CHONGQING CHANGSHOU EC 7.10 06/19/21 CNY 40.68
CHONGQING CHANGSHOU EC 7.10 06/19/21 CNY 40.00
CHONGQING CITY CONSTRU 5.12 05/21/20 CNY 20.25
CHONGQING CITY CONSTRU 5.12 05/21/20 CNY 20.01
CHONGQING DASUN ASSET 6.98 09/10/20 CNY 20.24
CHONGQING DAZU INDUSTR 6.30 04/28/22 CNY 60.63
CHONGQING DAZU INDUSTR 6.30 04/28/22 CNY 40.00
CHONGQING ECO&TECH DEV 3.95 04/13/23 CNY 61.00
CHONGQING ECO&TECH DEV 3.95 04/13/23 CNY 60.46
CHONGQING FULING DISTR 7.89 03/20/21 CNY 27.33
CHONGQING FULING DISTR 7.89 03/20/21 CNY 20.84
CHONGQING FULING TRAFF 6.68 02/03/22 CNY 40.89
CHONGQING FULING TRAFF 6.68 02/03/22 CNY 40.00
CHONGQING GAOXIN ZONE 7.80 04/25/21 CNY 40.98
CHONGQING GAOXIN ZONE 7.80 04/25/21 CNY 30.80
CHONGQING GARDENING IN 8.45 06/03/21 CNY 40.96
CHONGQING GARDENING IN 8.45 06/03/21 CNY 40.00
CHONGQING HAOJIANG CON 8.05 03/06/21 CNY 20.55
CHONGQING HAOJIANG CON 8.05 03/06/21 CNY 20.00
CHONGQING HAOJIANG CON 7.99 11/22/20 CNY 20.33
CHONGQING HAOJIANG CON 7.99 11/22/20 CNY 20.00
CHONGQING HECHUAN CITY 7.30 07/07/21 CNY 41.10
CHONGQING HECHUAN CITY 7.30 07/07/21 CNY 41.00
CHONGQING HECHUAN INDU 6.19 06/17/20 CNY 20.32
CHONGQING HECHUAN INDU 6.19 06/17/20 CNY 20.04
CHONGQING HONGYE INDUS 6.30 06/03/20 CNY 25.00
CHONGQING HONGYE INDUS 6.30 06/03/20 CNY 20.08
CHONGQING INTERNATIONA 7.08 10/18/20 CNY 20.50
CHONGQING INTERNATIONA 7.08 10/18/20 CNY 20.36
CHONGQING JIANGBEIZUI 6.50 07/21/21 CNY 40.90
CHONGQING JINYUN ASSET 4.50 12/31/22 CNY 60.70
CHONGQING JINYUN ASSET 4.50 12/31/22 CNY 60.00
CHONGQING JIULONG HI-T 6.60 08/19/21 CNY 40.99
CHONGQING JIULONG HI-T 6.60 08/19/21 CNY 40.88
CHONGQING KAIQIAN INVE 4.64 03/21/23 CNY 59.62
CHONGQING KAIQIAN INVE 4.64 03/21/23 CNY 59.05
CHONGQING KANGDA ENVIR 7.00 12/18/22 CNY 70.00
CHONGQING LAND PROPERT 3.36 03/21/23 CNY 60.68
CHONGQING LAND PROPERT 3.36 03/21/23 CNY 60.10
CHONGQING LAND PROPERT 6.30 08/22/20 CNY 20.23
CHONGQING LIANGJIANG N 5.88 09/16/21 CNY 41.19
CHONGQING LIANGJIANG N 5.88 09/16/21 CNY 41.12
CHONGQING LIANGJIANG N 3.10 08/05/21 CNY 70.38
CHONGQING LIANGJIANG N 6.70 04/25/21 CNY 22.72
CHONGQING LIANGJIANG N 6.70 04/25/21 CNY 20.81
CHONGQING LIANGJIANG N 3.60 04/19/21 CNY 40.82
CHONGQING LIANGJIANG N 3.60 04/19/21 CNY 40.65
CHONGQING LIANGJIANG N 3.17 01/13/21 CNY 40.41
CHONGQING LIANGJIANG N 3.17 01/13/21 CNY 40.02
CHONGQING MAIRUI URBAN 4.95 04/21/23 CNY 61.88
CHONGQING MAIRUI URBAN 4.95 04/21/23 CNY 61.57
CHONGQING QIANJIANG CI 8.00 03/21/21 CNY 21.70
CHONGQING QIANJIANG CI 8.00 03/21/21 CNY 20.58
CHONGQING SHUANGFU CON 7.49 10/23/20 CNY 20.37
CHONGQING SHUANGFU CON 7.49 10/23/20 CNY 20.00
CHONGQING SHUANGQIAO E 5.99 11/19/21 CNY 46.25
CHONGQING SHUANGQIAO E 5.99 11/19/21 CNY 40.76
CHONGQING TAX FREE POR 7.50 04/24/21 CNY 21.70
CHONGQING TAX FREE POR 7.50 04/24/21 CNY 20.85
CHONGQING TEA GARDEN I 7.70 05/20/21 CNY 40.68
CHONGQING TONGLIANG JI 6.59 04/08/22 CNY 41.39
CHONGQING TONGLIANG JI 6.59 04/08/22 CNY 40.00
CHONGQING TONGNAN DIST 4.99 12/31/22 CNY 60.83
CHONGQING TONGNAN DIST 4.99 12/31/22 CNY 60.00
CHONGQING WANSHENG ECO 6.95 08/25/21 CNY 45.00
CHONGQING WANSHENG ECO 6.95 08/25/21 CNY 40.52
CHONGQING WANSHENG ECO 8.19 04/08/21 CNY 23.90
CHONGQING WANSHENG ECO 8.19 04/08/21 CNY 20.64
CHONGQING WANSHENG ECO 5.40 11/18/21 CNY 69.90
CHONGQING WANZHOU SANX 4.95 08/25/22 CNY 61.51
CHONGQING XINGRONG HOL 4.86 03/31/23 CNY 62.91
CHONGQING XINGRONG HOL 4.86 03/31/23 CNY 60.16
CHONGQING XIYONG MICRO 6.58 07/25/21 CNY 42.33
CHONGQING XIYONG MICRO 6.58 07/25/21 CNY 41.05
CHONGQING YONGCHUAN HU 7.28 05/30/21 CNY 41.60
CHONGQING YONGCHUAN HU 7.28 05/30/21 CNY 40.87
CHONGQING YUELAI INVES 6.09 04/29/22 CNY 41.86
CHONGQING YUELAI INVES 6.09 04/29/22 CNY 40.00
CHONGQING YUNAN ASSET 7.05 06/17/21 CNY 40.76
CHONGQING YUNAN ASSET 7.05 06/17/21 CNY 40.70
CHONGQING YUZHONG STAT 7.25 02/26/21 CNY 20.64
CHONGQING YUZHONG STAT 7.25 02/26/21 CNY 20.57
CHUN'AN XINANJIANG DEV 6.10 03/11/22 CNY 44.55
CHUN'AN XINANJIANG DEV 6.10 03/11/22 CNY 41.45
CHUZHOU CITY CONSTRUCT 6.17 11/30/21 CNY 61.66
CHUZHOU CITY CONSTRUCT 6.40 08/22/21 CNY 41.27
CITIC GUOAN GROUP CORP 4.49 03/08/21 CNY 18.25
CITIC GUOAN GROUP CORP 4.23 12/15/20 CNY 38.49
CITIC GUOAN GROUP CORP 5.80 12/15/19 CNY 18.25
CITIC GUOAN GROUP CORP 4.90 11/06/19 CNY 18.25
CIXI CITY CONSTRUCTION 6.18 08/18/21 CNY 48.80
CIXI CITY CONSTRUCTION 6.18 08/18/21 CNY 41.02
DALI ECONOMIC DEVELOPM 7.90 03/04/21 CNY 20.44
DALI ECONOMIC DEVELOPM 7.90 03/04/21 CNY 20.00
DALI ECONOMIC DEVELOPM 8.30 12/11/20 CNY 20.60
DALI ECONOMIC DEVELOPM 8.30 12/11/20 CNY 20.43
DALI HAIDONG DEVELOPME 6.01 01/25/23 CNY 60.01
DALI HAIDONG DEVELOPME 6.01 01/25/23 CNY 59.00
DALIAN PULANDIAN CONST 3.80 01/25/23 CNY 57.76
DALIAN PULANDIAN CONST 3.80 01/25/23 CNY 57.00
DALIAN PUWAN ENGINEERI 4.50 02/01/23 CNY 58.72
DALIAN PUWAN ENGINEERI 4.50 02/01/23 CNY 52.11
DALIAN PUWAN ENGINEERI 7.09 02/20/21 CNY 19.68
DALIAN PUWAN ENGINEERI 7.09 02/20/21 CNY 19.64
DALIAN RONGDA INVESTME 5.69 12/05/21 CNY 41.00
DALIAN RONGDA INVESTME 5.69 12/05/21 CNY 40.98
DALIAN RONGQIANG INVES 7.92 04/14/21 CNY 20.60
DALIAN RONGQIANG INVES 7.92 04/14/21 CNY 20.59
DALIAN RONGQIANG INVES 8.60 01/20/21 CNY 20.55
DALIAN RONGQIANG INVES 8.60 01/20/21 CNY 20.54
DANDONG PORT GROUP CO 5.50 01/27/21 CNY 59.00
DANGTU COUNTY CONSTRUC 5.38 08/10/22 CNY 63.00
DANGTU COUNTY CONSTRUC 5.38 08/10/22 CNY 61.57
DANGYANG XINYUAN INVES 4.97 03/29/23 CNY 60.37
DANGYANG XINYUAN INVES 4.97 03/29/23 CNY 60.11
DANGYANG XINYUAN INVES 7.99 05/23/21 CNY 40.00
DANYANG HI-TECH INDUST 6.40 04/24/22 CNY 40.00
DANYANG HI-TECH INDUST 6.40 04/24/22 CNY 39.72
DANYANG INVESTMENT GRO 3.99 01/25/23 CNY 60.50
DANYANG INVESTMENT GRO 6.90 10/23/20 CNY 20.36
DANYANG INVESTMENT GRO 6.90 10/23/20 CNY 20.15
DATONG ECONOMIC CONSTR 4.49 10/22/22 CNY 61.32
DATONG ECONOMIC CONSTR 4.49 10/22/22 CNY 61.20
DAWA COUNTY CITY CONST 6.29 06/12/22 CNY 62.50
DAWA COUNTY CITY CONST 6.29 06/12/22 CNY 59.53
DAYE ZHENHENG CITY DEV 4.50 03/28/23 CNY 59.99
DAYE ZHENHENG CITY DEV 4.50 03/28/23 CNY 59.46
DAYE ZHENHENG CITY DEV 7.30 03/03/21 CNY 23.53
DAYE ZHENHENG CITY DEV 7.30 03/03/21 CNY 20.64
DAYE ZHENHENG CITY DEV 7.95 11/27/20 CNY 20.55
DAZHOU DEVELOPMENT HOL 5.10 11/27/22 CNY 61.10
DAZHOU DEVELOPMENT HOL 5.10 11/27/22 CNY 60.00
DAZHOU DEVELOPMENT HOL 6.55 01/14/22 CNY 41.04
DAZHOU DEVELOPMENT HOL 6.55 01/14/22 CNY 40.00
DEHONGZHOU HONGKANG IN 6.68 01/23/22 CNY 40.88
DEHONGZHOU HONGKANG IN 6.68 01/23/22 CNY 40.85
DEXING INVESTMENT HOLD 5.99 03/21/23 CNY 60.60
DEXING INVESTMENT HOLD 5.99 03/21/23 CNY 60.00
DEYANG ECONOMIC DEVELO 7.90 04/28/21 CNY 28.26
DEYANG ECONOMIC DEVELO 7.90 04/28/21 CNY 20.52
DONGLING GROUP INC CO 8.00 07/14/22 CNY 62.13
DONGLING GROUP INC CO 8.00 07/14/22 CNY 60.00
DONGTAI UBAN CONSTRUCT 7.58 04/23/21 CNY 28.48
DONGTAI UBAN CONSTRUCT 7.58 04/23/21 CNY 20.70
DONGTAI UBAN CONSTRUCT 8.65 01/13/21 CNY 20.83
DONGTAI UBAN CONSTRUCT 8.65 01/13/21 CNY 20.54
DONGYING CITY URBAN AS 5.57 03/31/22 CNY 41.58
DONGYING CITY URBAN AS 5.57 03/31/22 CNY 41.13
DR PENG HOLDING HONGKO 5.05 06/01/20 USD 55.56
DUJIANGYAN XINGYAN INV 6.10 03/12/22 CNY 40.00
DUJIANGYAN XINGYAN INV 6.10 03/12/22 CNY 39.40
DUNYUN STATE-OWNED ASS 6.60 12/28/22 CNY 60.33
EASTAR HOLDINGS GROUP 7.30 10/31/20 CNY 63.00
ENSHI URBAN CONSTRUCTI 7.50 06/03/21 CNY 47.54
ENSHI URBAN CONSTRUCTI 7.50 06/03/21 CNY 40.90
EZHOU CITY CONSTRUCTIO 6.68 09/19/21 CNY 41.00
EZHOU CITY CONSTRUCTIO 6.68 09/19/21 CNY 40.63
EZHOU CITY CONSTRUCTIO 7.76 05/15/21 CNY 46.50
EZHOU CITY CONSTRUCTIO 7.76 05/15/21 CNY 41.06
FANGCHENGGANG CITY GAN 8.09 04/16/21 CNY 22.00
FANGCHENGGANG CITY GAN 8.09 04/16/21 CNY 20.71
FEICHENG CITY ASSETS M 4.04 03/23/23 CNY 60.46
FEICHENG CITY ASSETS M 4.04 03/23/23 CNY 60.23
FENGCHENG CITY CONSTRU 6.49 02/10/22 CNY 44.49
FENGCHENG CITY CONSTRU 6.49 02/10/22 CNY 41.10
FENGCHENG CITY MODERN 5.76 12/17/22 CNY 60.00
FENGCHENG CITY MODERN 5.76 12/17/22 CNY 59.93
FENGXIAN URBAN INVESTM 6.48 03/20/22 CNY 41.02
FENGXIAN URBAN INVESTM 6.48 03/20/22 CNY 40.00
FENGXIAN URBAN INVESTM 4.23 07/13/21 CNY 55.52
FENGXIAN URBAN INVESTM 4.23 07/13/21 CNY 55.03
FUGU COUNTY STATE-OWNE 8.69 12/16/20 CNY 20.59
FUGU COUNTY STATE-OWNE 8.69 12/16/20 CNY 20.00
FUGUINIAO CO LTD 6.30 04/22/20 CNY 13.00
FUJIAN JINJIANG INDUST 7.08 06/27/21 CNY 40.97
FUJIAN PROVINCE LIANJI 6.29 04/30/22 CNY 41.43
FUJIAN PROVINCE LIANJI 6.29 04/30/22 CNY 40.00
FUJIAN ZHANGLONG GROUP 4.99 08/07/22 CNY 61.62
FUJIAN ZHANGLONG GROUP 4.99 08/07/22 CNY 60.00
FUNING URBAN INVESTMEN 7.19 08/15/21 CNY 41.15
FUNING URBAN INVESTMEN 7.19 08/15/21 CNY 41.09
FUQING CITY STATE-OWNE 5.94 11/26/22 CNY 57.26
FUQING CITY STATE-OWNE 6.66 03/01/21 CNY 25.40
FUXIN INFRASTRUCTURE C 6.18 03/18/22 CNY 42.80
FUXIN INFRASTRUCTURE C 6.18 03/18/22 CNY 40.48
FUZHOU CHANGLE DISTRIC 4.50 04/11/23 CNY 60.30
FUZHOU CHANGLE DISTRIC 4.50 04/11/23 CNY 59.66
FUZHOU URBAN AND RURAL 4.89 07/08/22 CNY 61.52
FUZHOU URBAN AND RURAL 4.89 07/08/22 CNY 60.00
FUZHOU URBAN AND RURAL 5.48 01/26/22 CNY 41.14
FUZHOU URBAN AND RURAL 5.48 01/26/22 CNY 40.00
GANZHOU CITY DEVELOPME 5.50 06/16/22 CNY 61.80
GANZHOU CITY DEVELOPME 5.50 06/16/22 CNY 60.00
GANZHOU DEVELOPMENT ZO 7.43 02/19/21 CNY 20.68
GANZHOU DEVELOPMENT ZO 7.43 02/19/21 CNY 19.00
GAOMI STATE-OWNED ASSE 4.69 01/26/23 CNY 61.22
GAOMI STATE-OWNED ASSE 4.69 01/26/23 CNY 61.14
GAOYOU CITY CONSTRUCTI 5.48 09/15/22 CNY 61.42
GAOYOU CITY CONSTRUCTI 5.48 09/15/22 CNY 60.00
GOLMUD INVESTMENT HOLD 8.70 12/30/20 CNY 20.52
GOLMUD INVESTMENT HOLD 8.70 12/30/20 CNY 20.30
GONGQINGCHENG FINANCIA 5.85 03/25/23 CNY 62.42
GONGQINGCHENG FINANCIA 5.85 03/25/23 CNY 58.79
GOOCOO INVESTMENT CO L 8.00 02/01/21 CNY 50.00
GREENLAND HOLDING GROU 6.24 05/23/20 CNY 25.06
GREENLAND HOLDING GROU 6.24 05/23/20 CNY 25.04
GUANGAN DEVELOPMENT AN 6.39 03/24/22 CNY 44.00
GUANGAN DEVELOPMENT AN 6.39 03/24/22 CNY 41.42
GUANGAN ECONOMIC & TEC 5.16 04/14/23 CNY 60.74
GUANGAN ECONOMIC & TEC 5.16 04/14/23 CNY 60.20
GUANGAN ECONOMIC & TEC 7.10 09/22/21 CNY 40.80
GUANGAN ECONOMIC & TEC 7.10 09/22/21 CNY 40.79
GUANGDONG TAIANTANG PH 4.98 02/02/21 CNY 69.00
GUANGXI BAISE DEVELOPM 7.27 06/20/21 CNY 40.40
GUANGXI LAIBIN INDUSTR 5.97 11/26/21 CNY 40.92
GUANGXI LAIBIN INDUSTR 5.97 11/26/21 CNY 40.00
GUANGXI LIUZHOU DONGCH 7.40 10/29/20 CNY 21.00
GUANGXI LIUZHOU DONGCH 7.40 10/29/20 CNY 20.18
GUANGXI QINZHOU LINHAI 7.68 02/20/21 CNY 24.77
GUANGXI QINZHOU LINHAI 7.68 02/20/21 CNY 20.45
GUANGXI URBAN CONSTRUC 7.59 04/14/21 CNY 23.00
GUANGXI URBAN CONSTRUC 7.59 04/14/21 CNY 20.66
GUANGYUAN INVESTMENT H 7.30 04/22/21 CNY 21.15
GUANGYUAN INVESTMENT H 7.30 04/22/21 CNY 20.54
GUANGYUAN YUANQU CONST 4.48 03/10/23 CNY 60.95
GUANGYUAN YUANQU CONST 4.48 03/10/23 CNY 59.99
GUANGYUAN YUANQU CONST 8.35 08/26/21 CNY 47.00
GUANGYUAN YUANQU CONST 8.35 08/26/21 CNY 41.35
GUANGZHOU HUANTOU NANS 6.38 11/18/24 CNY 74.20
GUANGZHOU METRO GROUP 6.05 06/03/24 CNY 73.62
GUANGZHOU METRO GROUP 6.45 04/02/24 CNY 64.46
GUANGZHOU METRO GROUP 6.45 04/02/24 CNY 60.00
GUILIN CITY INVESTMENT 6.90 06/13/21 CNY 40.55
GUILIN CITY INVESTMENT 6.90 06/13/21 CNY 40.00
GUILIN ECONOMIC CONSTR 5.60 04/22/22 CNY 41.50
GUILIN ECONOMIC CONSTR 5.60 04/22/22 CNY 40.00
GUIRENNIAO CO LTD 7.00 12/03/19 CNY 49.50
GUIYANG BAIYUN INDUSTR 7.30 03/27/22 CNY 45.00
GUIYANG BAIYUN INDUSTR 7.30 03/27/22 CNY 41.80
GUIYANG GUANSHANHU DIS 4.48 03/09/23 CNY 59.83
GUIYANG GUANSHANHU DIS 4.48 03/09/23 CNY 59.29
GUIYANG GUANSHANHU DIS 4.87 01/28/23 CNY 60.19
GUIYANG GUANSHANHU DIS 4.87 01/28/23 CNY 59.78
GUIYANG URBAN CONSTRUC 5.23 12/02/22 CNY 59.65
GUIYANG URBAN CONSTRUC 5.23 12/02/22 CNY 59.40
GUIZHOU EAST LAKE CITY 5.18 01/06/23 CNY 61.52
GUIZHOU EAST LAKE CITY 5.18 01/06/23 CNY 57.97
GUIZHOU FANJINGSHAN IN 6.95 01/28/22 CNY 41.13
GUIZHOU FANJINGSHAN IN 6.95 01/28/22 CNY 40.00
GUIZHOU GUIAN CONSTRUC 4.17 10/28/22 CNY 61.00
GUIZHOU GUIAN CONSTRUC 4.17 10/28/22 CNY 60.89
GUIZHOU GUILONG INDUST 7.80 04/28/22 CNY 52.21
GUIZHOU GUILONG INDUST 7.80 04/28/22 CNY 51.43
GUIZHOU HONGCAI INVEST 6.00 06/07/23 CNY 73.78
GUIZHOU HONGCAI INVEST 6.00 06/07/23 CNY 73.72
GUIZHOU RAILWAY INVEST 7.50 04/23/24 CNY 65.85
GUIZHOU RAILWAY INVEST 7.50 04/23/24 CNY 65.75
GUIZHOU RAILWAY INVEST 7.20 03/27/22 CNY 42.50
GUIZHOU RAILWAY INVEST 7.20 03/27/22 CNY 42.02
GUIZHOU SHUICHENG CITY 4.98 11/22/23 CNY 72.67
HAIAN COUNTY DEVELOPME 5.45 04/13/23 CNY 59.66
HAIAN COUNTY DEVELOPME 5.45 04/13/23 CNY 58.04
HAIAN URBAN DEMOLITION 5.08 11/27/22 CNY 61.64
HAIAN URBAN DEMOLITION 5.08 11/27/22 CNY 60.88
HAICHENG URBAN JINCAI 8.17 04/16/21 CNY 20.33
HAICHENG URBAN JINCAI 8.17 04/16/21 CNY 20.10
HAICHENG URBAN JINCAI 8.56 12/19/20 CNY 20.46
HAICHENG URBAN JINCAI 8.56 12/19/20 CNY 20.00
HAIFENG MARINE INFRAST 6.84 04/29/22 CNY 40.82
HAIFENG MARINE INFRAST 6.84 04/29/22 CNY 40.00
HAIKOU MEILAN INTERNAT 5.25 09/06/19 USD 59.11
HAIMEN CITY DEVELOPMEN 6.22 04/03/22 CNY 42.20
HAIMEN CITY DEVELOPMEN 6.22 04/03/22 CNY 41.93
HAINING CITY DEVELOPME 5.58 10/22/21 CNY 41.24
HAINING CITY DEVELOPME 5.58 10/22/21 CNY 41.00
HAINING CITY JIANSHAN 6.90 11/04/20 CNY 21.42
HAINING CITY JIANSHAN 6.90 11/04/20 CNY 20.36
HAIXI STATE-OWNED CAPI 8.60 01/02/21 CNY 20.48
HAIYAN COUNTY STATE-OW 7.00 09/04/20 CNY 20.25
HANDAN CONSTRUCTION & 5.48 05/27/22 CNY 67.20
HANDAN CONSTRUCTION & 5.48 05/27/22 CNY 61.44
HANGZHOU FUYANG CITY C 7.20 03/19/21 CNY 20.75
HANGZHOU FUYANG CITY C 7.20 03/19/21 CNY 20.74
HANGZHOU FUYANG DEVELO 4.76 01/27/23 CNY 61.03
HANGZHOU FUYANG DEVELO 4.76 01/27/23 CNY 59.96
HANGZHOU FUYANG DEVELO 7.70 04/28/21 CNY 40.92
HANGZHOU FUYANG DEVELO 7.70 04/28/21 CNY 29.00
HANGZHOU GONGSHU DISTR 6.90 07/21/21 CNY 41.23
HANGZHOU GONGSHU DISTR 6.90 07/21/21 CNY 40.40
HANGZHOU LOWER DISTRIC 3.80 03/14/23 CNY 61.07
HANGZHOU LOWER DISTRIC 3.80 03/14/23 CNY 60.00
HANGZHOU WEST LAKE INV 4.30 04/25/23 CNY 61.48
HANGZHOU WEST LAKE INV 4.30 04/25/23 CNY 60.85
HANGZHOU XIAOSHAN ECO& 6.90 05/13/21 CNY 40.99
HANGZHOU XIAOSHAN QIAN 4.00 03/22/23 CNY 61.41
HANGZHOU XIAOSHAN QIAN 4.00 03/22/23 CNY 61.37
HANGZHOU YUHANG CITY C 7.00 03/03/21 CNY 20.84
HANGZHOU YUHANG ECONOM 7.45 03/03/21 CNY 20.75
HANGZHOU YUHANG ECONOM 7.45 03/03/21 CNY 20.66
HANGZHOU YUHANG TRANSP 7.19 04/18/21 CNY 21.85
HANGZHOU YUHANG TRANSP 7.19 04/18/21 CNY 20.77
HANJIANG STATE-OWNED-A 7.30 11/11/20 CNY 26.60
HANJIANG STATE-OWNED-A 7.30 11/11/20 CNY 20.49
HAWTAI MOTOR GROUP LTD 6.10 10/26/21 CNY 74.00
HAWTAI MOTOR GROUP LTD 7.20 04/14/21 CNY 60.00
HEBEI ZHONGYUE CITY CO 4.10 11/16/21 CNY 60.07
HEBEI ZHONGYUE CITY CO 4.10 11/16/21 CNY 59.96
HEBI INVESTMENTS GROUP 7.88 08/01/21 CNY 41.03
HEBI INVESTMENTS GROUP 7.88 08/01/21 CNY 40.99
HECHI CITY CONSTRUCTIO 5.58 11/13/22 CNY 62.42
HECHI CITY CONSTRUCTIO 5.58 11/13/22 CNY 60.41
HEFEI CONSTRUCTION INV 7.20 04/29/24 CNY 66.11
HEFEI CONSTRUCTION INV 7.20 04/29/24 CNY 65.84
HEILONGJIANG HECHENG C 7.05 06/21/22 CNY 45.97
HEILONGJIANG HECHENG C 7.05 06/21/22 CNY 45.93
HEILONGJIANG HECHENG C 5.60 11/11/21 CNY 40.33
HEILONGJIANG HECHENG C 5.60 11/11/21 CNY 40.00
HEILONGJIANG POST-DISA 7.06 11/20/20 CNY 6.79
HEILONGJIANG POST-DISA 7.06 11/20/20 CNY 6.78
HEILONGJIANG POST-DISA 7.10 11/19/20 CNY 25.52
HEILONGJIANG POST-DISA 7.10 11/19/20 CNY 18.55
HEISHAN TONGHE ASSET M 6.79 09/18/22 CNY 59.67
HEISHAN TONGHE ASSET M 6.79 09/18/22 CNY 59.28
HENGYANG BAISHAZHOU DE 6.87 08/22/21 CNY 44.50
HENGYANG BAISHAZHOU DE 6.87 08/22/21 CNY 40.73
HENGYANG COMMUNICATION 4.28 01/21/23 CNY 60.18
HENGYANG COMMUNICATION 4.28 01/21/23 CNY 60.00
HENGYANG HONGXIANG STA 6.20 06/19/20 CNY 20.04
HENGYANG HONGXIANG STA 6.20 06/19/20 CNY 20.00
HENGYANG XIANGJIANG WA 7.40 04/23/21 CNY 21.10
HENGYANG XIANGJIANG WA 7.40 04/23/21 CNY 20.64
HETIAN YUXIN STATE-OWN 4.65 03/28/23 CNY 60.82
HETIAN YUXIN STATE-OWN 4.65 03/28/23 CNY 60.77
HEYUAN CITY RUNYE INVE 6.20 12/03/21 CNY 45.88
HEYUAN CITY RUNYE INVE 6.20 12/03/21 CNY 41.16
HEZE INVESTMENT DEVELO 7.14 03/24/21 CNY 20.95
HEZE INVESTMENT DEVELO 7.14 03/24/21 CNY 20.66
HEZHOU URBAN CONSTRUCT 8.16 05/16/21 CNY 41.32
HEZHOU URBAN CONSTRUCT 8.16 05/16/21 CNY 40.81
HNA GROUP CO LTD 5.99 11/27/22 CNY 29.10
HNA GROUP INTERNATIONA 6.25 10/05/21 USD 74.46
HONGHEZHOU ROAD DEVELO 6.27 05/06/20 CNY 20.00
HONGHEZHOU ROAD DEVELO 6.27 05/06/20 CNY 19.99
HUACHEN ENERGY CO LTD 6.63 05/18/20 USD 26.00
HUAIAN CITY HUAIAN DIS 4.63 05/03/23 CNY 61.13
HUAIAN CITY URBAN ASSE 5.70 04/23/22 CNY 41.54
HUAIAN CITY URBAN ASSE 5.70 04/23/22 CNY 41.39
HUAIAN CITY XUYI URBAN 5.10 04/15/23 CNY 59.80
HUAIAN CITY XUYI URBAN 5.10 04/15/23 CNY 59.56
HUAI'AN DEVELOPMENT HO 7.30 03/10/21 CNY 27.84
HUAI'AN DEVELOPMENT HO 7.30 03/10/21 CNY 20.62
HUAIAN HONGRI TRANSPOR 5.09 04/20/23 CNY 58.72
HUAIAN HONGRI TRANSPOR 5.09 04/20/23 CNY 58.69
HUAI'AN NEW CITY INVES 6.95 07/28/21 CNY 47.50
HUAI'AN NEW CITY INVES 6.95 07/28/21 CNY 40.91
HUAI'AN NEW CITY INVES 7.45 03/04/21 CNY 20.48
HUAI'AN NEW CITY INVES 7.45 03/04/21 CNY 20.00
HUAIHUA CITY INDUSTRIA 7.70 10/29/20 CNY 20.20
HUAIHUA CITY INDUSTRIA 7.70 10/29/20 CNY 20.19
HUAIHUA ECONOMIC DEVEL 6.80 03/26/22 CNY 40.00
HUAIHUA ECONOMIC DEVEL 6.80 03/26/22 CNY 39.89
HUAIHUA TRANSPORTATION 4.96 04/12/23 CNY 60.07
HUAIHUA TRANSPORTATION 4.96 04/12/23 CNY 59.95
HUAINAN URBAN CONSTRUC 6.79 07/09/21 CNY 41.65
HUAINAN URBAN CONSTRUC 6.79 07/09/21 CNY 41.05
HUANGGANG CITY CONSTRU 4.08 01/18/23 CNY 61.22
HUANGGANG CITY CONSTRU 4.08 01/18/23 CNY 60.40
HUANGGANG CITY CONSTRU 7.45 03/04/21 CNY 20.80
HUANGGANG CITY CONSTRU 7.45 03/04/21 CNY 20.72
HUANGGANG CITY CONSTRU 8.60 12/25/20 CNY 20.62
HUANGGANG CITY CONSTRU 8.60 12/25/20 CNY 20.60
HUANGSHAN CHENGTOU GRO 5.95 05/06/22 CNY 60.65
HUANGSHAN CHENGTOU GRO 5.95 05/06/22 CNY 41.75
HUANGSHI CIHU HIGH-TEC 9.30 01/21/21 CNY 20.71
HUANGSHI CIHU HIGH-TEC 8.70 12/05/20 CNY 20.45
HUANGSHI URBAN CONSTRU 5.99 04/29/22 CNY 41.57
HUANGSHI URBAN CONSTRU 5.99 04/29/22 CNY 40.00
HUAWEN MEDIA GROUP 6.00 04/04/21 CNY 35.20
HUAWEN MEDIA GROUP 5.45 11/08/20 CNY 47.65
HUBEI PROVINCE CHANGJI 6.15 04/03/22 CNY 42.40
HUBEI PROVINCE CHANGJI 6.15 04/03/22 CNY 41.56
HULUDAO INVESTMENT GRO 7.50 10/18/23 CNY 63.23
HULUDAO INVESTMENT GRO 7.50 10/18/23 CNY 60.00
HULUDAO INVESTMENT GRO 7.05 10/18/20 CNY 20.52
HULUDAO INVESTMENT GRO 7.05 10/18/20 CNY 20.24
HULUNBEIER INVESTMENT 6.31 04/30/22 CNY 61.03
HULUNBEIER INVESTMENT 6.31 04/30/22 CNY 40.00
HUNAN CHANGDE DEYUAN I 6.50 06/16/21 CNY 42.25
HUNAN CHANGDE DEYUAN I 6.50 06/16/21 CNY 40.85
HUNAN CHUZHISHENG HOLD 5.60 12/18/22 CNY 61.96
HUNAN CHUZHISHENG HOLD 5.60 12/18/22 CNY 60.26
HUNAN JINYANG INVESTME 4.39 04/06/23 CNY 60.40
HUNAN JINYANG INVESTME 4.39 04/06/23 CNY 59.61
HUNAN JINYANG INVESTME 4.37 01/19/23 CNY 60.80
HUNAN JINYANG INVESTME 4.37 01/19/23 CNY 60.47
HUNAN JINYANG INVESTME 5.70 11/27/21 CNY 39.66
HUNAN JINYANG INVESTME 5.70 11/27/21 CNY 38.60
HUNAN LOUDI ECONOMIC & 4.89 03/30/23 CNY 56.42
HUNAN LOUDI ECONOMIC & 4.89 03/30/23 CNY 56.28
HUNAN LOUDI ECONOMIC & 6.36 03/13/22 CNY 47.00
HUNAN LOUDI ECONOMIC & 6.36 03/13/22 CNY 39.16
HUNAN PROVINCIAL RAILW 6.09 04/30/25 CNY 70.00
HUNAN SHAODONG ECO-IND 6.50 01/11/23 CNY 59.93
HUNAN SHAODONG ECO-IND 6.50 01/11/23 CNY 59.36
HUNAN TIER GROUP CO LT 4.20 03/17/23 CNY 58.79
HUNAN TIER GROUP CO LT 4.20 03/17/23 CNY 57.92
HUNAN TIER GROUP CO LT 7.10 03/03/21 CNY 20.95
HUNAN TIER GROUP CO LT 7.10 03/03/21 CNY 20.62
HUNAN TIER GROUP CO LT 8.00 12/23/20 CNY 22.72
HUNAN TIER GROUP CO LT 8.00 12/23/20 CNY 20.67
HUNAN XIANGJIANG NEW A 7.36 03/17/21 CNY 20.80
HUNAN XIANGJIANG NEW A 7.36 03/17/21 CNY 20.00
HUZHOU URBAN CONSTRUCT 6.48 08/28/21 CNY 42.38
HUZHOU URBAN CONSTRUCT 6.48 08/28/21 CNY 41.10
HUZHOU WUXING NANTAIHU 8.79 01/16/21 CNY 20.59
HUZHOU WUXING NANTAIHU 8.79 01/16/21 CNY 20.15
HUZHOU XISAISHAN DEVEL 7.80 04/29/21 CNY 20.84
HUZHOU XISAISHAN DEVEL 7.80 04/29/21 CNY 20.00
INNER MONGOLIA JINLONG 7.30 11/19/22 CNY 60.37
INNER MONGOLIA KE'ERQI 6.45 04/30/22 CNY 40.00
INNER MONGOLIA KE'ERQI 6.45 04/30/22 CNY 39.33
INNER MONGOLIA KE'ERQI 6.50 03/11/22 CNY 40.00
INNER MONGOLIA KE'ERQI 6.50 03/11/22 CNY 39.47
INNER MONGOLIA SHENGXI 8.18 08/21/21 CNY 44.00
INNER MONGOLIA SHENGXI 8.18 08/21/21 CNY 40.38
INNER MONGOLIA ZHUNGEE 6.54 12/31/21 CNY 42.10
INNER MONGOLIA ZHUNGEE 6.54 12/31/21 CNY 41.72
JIAN CITY JINGANGSHAN 4.87 01/27/23 CNY 60.47
JIAN CITY JINGANGSHAN 4.87 01/27/23 CNY 58.77
JIAN CITY JINGANGSHAN 7.99 06/03/21 CNY 40.87
JIAN CITY JINGANGSHAN 7.99 06/03/21 CNY 40.63
JIANAN INVESTMENT HOLD 4.30 03/08/23 CNY 61.20
JIANAN INVESTMENT HOLD 4.30 03/08/23 CNY 61.20
JIANAN INVESTMENT HOLD 6.85 05/23/21 CNY 46.50
JIANAN INVESTMENT HOLD 6.85 05/23/21 CNY 40.85
JIANGDONG HOLDING GROU 7.14 04/24/21 CNY 20.89
JIANGMEN NEW HI-TECH I 6.03 04/22/22 CNY 41.55
JIANGMEN NEW HI-TECH I 6.03 04/22/22 CNY 41.50
JIANGMEN NEW HI-TECH I 7.39 11/04/20 CNY 20.47
JIANGSU HAIZHOUWAN DEV 5.37 03/29/23 CNY 45.00
JIANGSU HANRUI INVESTM 4.63 04/15/23 CNY 61.21
JIANGSU HANRUI INVESTM 4.63 04/15/23 CNY 61.00
JIANGSU HUAJING ASSETS 6.00 05/16/20 CNY 20.12
JIANGSU HUAJING ASSETS 6.00 05/16/20 CNY 20.01
JIANGSU JINGUAN INVEST 7.90 04/08/21 CNY 20.80
JIANGSU JINGUAN INVEST 7.90 04/08/21 CNY 20.76
JIANGSU JINTAN GUOFA I 6.85 05/30/21 CNY 40.44
JIANGSU JINTAN GUOFA I 6.85 05/30/21 CNY 40.00
JIANGSU JURONG FUDI BI 7.70 03/21/21 CNY 41.52
JIANGSU JURONG FUDI BI 7.70 03/21/21 CNY 41.20
JIANGSU NANTONG NO2 CO 8.10 07/10/21 CNY 40.18
JIANGSU NEWHEADLINE DE 7.00 08/27/20 CNY 29.90
JIANGSU NEWHEADLINE DE 7.00 08/27/20 CNY 25.22
JIANGSU RUNCHENG ASSET 7.88 04/16/21 CNY 28.80
JIANGSU RUNCHENG ASSET 7.88 04/16/21 CNY 20.80
JIANGSU RUNQI WANGUO I 4.14 10/21/21 CNY 59.12
JIANGSU RUNQI WANGUO I 4.14 10/21/21 CNY 59.10
JIANGSU SUHAI INVESTME 7.28 05/29/21 CNY 45.00
JIANGSU SUHAI INVESTME 7.28 05/29/21 CNY 40.76
JIANGSU TAICANG PORT D 7.40 04/28/21 CNY 40.92
JIANGSU TAICANG PORT D 7.40 04/28/21 CNY 20.00
JIANGSU WANGTAO INVEST 6.82 09/15/20 CNY 26.10
JIANGSU WANGTAO INVEST 6.82 09/15/20 CNY 25.20
JIANGSU WUZHONG ECONOM 5.49 11/19/21 CNY 41.21
JIANGSU WUZHONG ECONOM 5.49 11/19/21 CNY 40.32
JIANGSU XISHAN ECONOMI 5.78 07/20/22 CNY 61.70
JIANGSU XISHAN ECONOMI 5.78 07/20/22 CNY 60.50
JIANGSU YANGKOU PORT C 6.23 04/10/22 CNY 47.50
JIANGSU YANGKOU PORT C 6.23 04/10/22 CNY 41.51
JIANGSU YIXING ECONOMI 7.69 04/18/21 CNY 30.19
JIANGSU YIXING ECONOMI 7.69 04/18/21 CNY 20.79
JIANGSU ZHANGJIAGANG E 3.95 03/22/23 CNY 61.35
JIANGSU ZHANGJIAGANG E 3.95 03/22/23 CNY 60.00
JIANGSU ZHUFU INDUSTRI 4.93 12/29/20 CNY 40.33
JIANGXI HEJI INVESTMEN 5.09 12/17/22 CNY 60.00
JIANGXI HEJI INVESTMEN 5.09 12/17/22 CNY 58.84
JIANGXI HUIHENG PROPER 4.43 08/30/21 CNY 70.72
JIANGXI HUIHENG PROPER 4.43 08/30/21 CNY 69.91
JIANGXI LONGHU MOUNTAI 4.35 03/16/23 CNY 60.75
JIANGXI LONGHU MOUNTAI 4.35 03/16/23 CNY 60.10
JIANGXI PINGXIANG CHAN 8.18 05/22/21 CNY 49.34
JIANGXI PINGXIANG CHAN 8.18 05/22/21 CNY 40.89
JIANGXI PROVINCE SITON 8.20 04/18/21 CNY 20.82
JIANGYIN LINGANG NEW C 7.10 11/07/20 CNY 21.00
JIANGYIN LINGANG NEW C 7.10 11/07/20 CNY 20.38
JIANGYOU HONGFEI INVES 6.55 09/02/22 CNY 60.93
JIANGYOU HONGFEI INVES 6.55 09/02/22 CNY 59.46
JIANHU COUNTY DEVELOPM 7.29 09/25/21 CNY 42.75
JIANHU COUNTY DEVELOPM 7.29 09/25/21 CNY 40.96
JIANHU URBAN CONSTRUCT 6.30 06/01/22 CNY 62.86
JIANHU URBAN CONSTRUCT 6.30 06/01/22 CNY 60.42
JIANHU URBAN CONSTRUCT 3.28 10/13/21 CNY 71.00
JIANHU URBAN CONSTRUCT 3.28 10/13/21 CNY 69.56
JIAXING ECONOMIC&TECHN 7.89 03/05/21 CNY 21.13
JIAXING ECONOMIC&TECHN 7.89 03/05/21 CNY 20.82
JIAXING NANHU INVESTME 7.45 02/26/21 CNY 21.80
JIAXING NANHU INVESTME 7.45 02/26/21 CNY 20.65
JIAYU COUNTY URBAN TOW 5.70 01/19/23 CNY 61.33
JIAYU COUNTY URBAN TOW 5.70 01/19/23 CNY 60.28
JIAYUGUAN CITY INFRAST 7.83 09/23/21 CNY 40.92
JIAYUGUAN CITY INFRAST 7.83 09/23/21 CNY 40.00
JIEYANGSHI CHENGSHI TO 6.55 08/27/21 CNY 40.56
JILIN CITY CONSTRUCTIO 3.80 01/27/23 CNY 61.98
JILIN CITY CONSTRUCTIO 3.80 01/27/23 CNY 59.90
JILIN ECONOMIC AND TEC 6.20 04/29/23 CNY 60.21
JILIN ECONOMIC AND TEC 6.20 04/29/23 CNY 60.17
JILIN NORTHEAST SOCK I 6.80 12/19/21 CNY 69.75
JILIN RAILWAY INVESTME 7.18 03/04/21 CNY 20.14
JINAN CITY CONSTRUCTIO 6.80 03/20/21 CNY 20.67
JINAN CITY LICHENG DIS 5.00 06/23/22 CNY 60.10
JINAN CITY LICHENG DIS 5.00 06/23/22 CNY 60.09
JINAN HI-TECH HOLDING 6.38 06/19/21 CNY 40.81
JINCHANG CONSTRUCTION 6.79 12/21/22 CNY 61.31
JINCHANG CONSTRUCTION 6.79 12/21/22 CNY 60.00
JINCHENG STATE-OWNED C 4.99 11/11/21 CNY 40.89
JINCHENG STATE-OWNED C 4.99 11/11/21 CNY 40.87
JINGDE TAOCI CULTURAL 5.38 11/27/22 CNY 60.26
JINGDE TAOCI CULTURAL 5.38 11/27/22 CNY 58.00
JINGDEZHEN STATE-OWNED 6.59 06/25/20 CNY 20.08
JINGDEZHEN STATE-OWNED 6.59 06/25/20 CNY 20.06
JINGHONG STATE-OWNED A 8.08 05/23/21 CNY 40.57
JINGHONG STATE-OWNED A 8.08 05/23/21 CNY 39.00
JINGJIANG CITY INVESTM 4.55 03/30/23 CNY 60.94
JINGJIANG CITY INVESTM 4.55 03/30/23 CNY 59.73
JINGJIANG HARBOUR GROU 7.30 08/05/21 CNY 48.68
JINGJIANG HARBOUR GROU 7.30 08/05/21 CNY 40.24
JINGMEN CITY CONSTRUCT 6.85 07/09/22 CNY 46.90
JINGMEN CITY CONSTRUCT 6.85 07/09/22 CNY 46.20
JINGMEN CITY CONSTRUCT 7.00 10/17/20 CNY 20.37
JINGMEN CITY CONSTRUCT 7.00 10/17/20 CNY 18.57
JINGMEN HIGH-TECH DEVE 5.48 08/11/22 CNY 60.94
JINGMEN HIGH-TECH DEVE 5.48 08/11/22 CNY 59.80
JINGZHOU DEVELOPMENT Z 8.20 12/09/20 CNY 21.80
JINGZHOU DEVELOPMENT Z 8.20 12/09/20 CNY 20.50
JINGZHOU URBAN CONSTRU 3.97 03/10/23 CNY 60.93
JINGZHOU URBAN CONSTRU 3.97 03/10/23 CNY 60.55
JINHU COUNTY STATE-OWN 7.75 08/25/21 CNY 41.33
JINHU COUNTY STATE-OWN 7.75 08/25/21 CNY 40.91
JINING CITY SHIZHONG D 6.39 01/29/22 CNY 44.44
JINING CITY SHIZHONG D 6.39 01/29/22 CNY 41.34
JINING HI-TECH TOWN CO 6.09 04/30/22 CNY 41.58
JINING HI-TECH TOWN CO 6.09 04/30/22 CNY 41.50
JINZHAI URBAN DEVELOPM 5.90 04/25/23 CNY 81.32
JINZHAI URBAN DEVELOPM 5.90 04/25/23 CNY 62.06
JINZHOU CITY INVESTMEN 6.44 08/18/21 CNY 44.91
JINZHOU CITY INVESTMEN 6.44 08/18/21 CNY 40.56
JINZHOU CITY INVESTMEN 8.50 12/27/20 CNY 20.58
JINZHOU HUAXING INVEST 8.38 02/25/21 CNY 25.00
JINZHOU HUAXING INVEST 8.38 02/25/21 CNY 20.59
JINZHOU HUAXING INVEST 9.10 01/21/21 CNY 20.90
JINZHOU HUAXING INVEST 9.10 01/21/21 CNY 20.59
JISHOU HUATAI STATE OW 7.18 02/09/22 CNY 42.82
JISHOU HUATAI STATE OW 7.18 02/09/22 CNY 40.06
JIUJIANG CITY CONSTRUC 5.50 05/22/22 CNY 61.56
JIUJIANG CITY CONSTRUC 5.50 05/22/22 CNY 59.55
JIUJIANG LAND INVESTME 6.20 03/23/22 CNY 41.58
JIUJIANG LAND INVESTME 6.20 03/23/22 CNY 40.36
JIUJIANG LIANXI DISTRI 4.58 03/30/23 CNY 60.40
JIUJIANG LIANXI DISTRI 4.58 03/30/23 CNY 60.29
JIUQUAN ECONOMIC DEVEL 7.40 02/26/21 CNY 20.60
JIUQUAN ECONOMIC DEVEL 7.40 02/26/21 CNY 20.53
JIXI STATE OWN ASSET M 6.87 01/19/22 CNY 40.85
JIXI STATE OWN ASSET M 6.87 01/19/22 CNY 40.46
KAIFENG NEW DISTRICT I 6.35 03/23/22 CNY 40.81
KAIFENG NEW DISTRICT I 6.35 03/23/22 CNY 40.75
KAIFU CITY DEVELOPMENT 4.20 01/21/23 CNY 60.74
KAIFU CITY DEVELOPMENT 4.20 01/21/23 CNY 60.10
KAILI GUIZHOU TOWN CON 5.29 12/17/22 CNY 60.00
KAILI GUIZHOU TOWN CON 5.29 12/17/22 CNY 59.11
KANGMEI PHARMACEUTICAL 5.47 09/15/22 CNY 21.25
KANGMEI PHARMACEUTICAL 5.29 08/16/22 CNY 20.10
KANGMEI PHARMACEUTICAL 5.20 07/17/22 CNY 21.25
KANGMEI PHARMACEUTICAL 6.33 01/27/22 CNY 36.69
KANGMEI PHARMACEUTICAL 6.80 06/28/21 CNY 21.25
KANGMEI PHARMACEUTICAL 7.00 06/21/21 CNY 21.25
KANGMEI PHARMACEUTICAL 5.50 04/20/21 CNY 21.25
KANGMEI PHARMACEUTICAL 6.10 03/28/21 CNY 20.67
KANGMEI PHARMACEUTICAL 6.28 03/20/21 CNY 21.25
KASHGAR SHENKA INVESTM 7.08 07/07/20 CNY 25.18
KASHGAR SHENKA INVESTM 7.08 07/07/20 CNY 24.75
KASHI URBAN CONSTRUCTI 5.80 07/20/22 CNY 61.41
KASHI URBAN CONSTRUCTI 5.80 07/20/22 CNY 60.00
KUERLE CITY CONSTRUCTI 6.99 05/20/20 CNY 25.05
KUERLE CITY CONSTRUCTI 6.99 05/20/20 CNY 25.04
KUNMING DONGJUN REAL E 4.50 11/02/21 CNY 49.98
KUNSHAN COMMUNICATION 6.95 05/22/21 CNY 45.45
KUNSHAN COMMUNICATION 6.95 05/22/21 CNY 41.04
KUNSHAN HIGH TECHNOLOG 7.10 03/26/21 CNY 20.78
LAIWU CITY ECONOMIC DE 7.08 02/28/21 CNY 20.65
LAIWU CITY ECONOMIC DE 7.08 02/28/21 CNY 20.60
LANZHOU STATE OWNED AS 6.32 09/10/21 CNY 40.38
LANZHOU STATE OWNED AS 6.32 09/10/21 CNY 34.90
LAOHEKOU CITY CONSTRUC 6.75 08/12/22 CNY 61.42
LAOHEKOU CITY CONSTRUC 6.75 08/12/22 CNY 61.33
LEIYANG CITY AND RURAL 7.80 04/10/22 CNY 42.41
LEIYANG CITY AND RURAL 7.80 04/10/22 CNY 42.39
LEQING CITY STATE OWNE 5.99 10/20/21 CNY 41.40
LEQING CITY STATE OWNE 5.99 10/20/21 CNY 40.85
LESHAN STATE-OWNED ASS 5.68 10/22/21 CNY 45.60
LESHAN STATE-OWNED ASS 5.68 10/22/21 CNY 41.10
LIANYUNGANG TRANSPORT 5.47 11/17/21 CNY 45.00
LIANYUNGANG TRANSPORT 5.47 11/17/21 CNY 40.82
LIAOCHENG ANTAI URBAN 5.16 04/11/23 CNY 61.66
LIAOCHENG ANTAI URBAN 5.16 04/11/23 CNY 61.27
LIAOCHENG ANTAI URBAN 4.58 04/11/23 CNY 61.09
LIAOCHENG ANTAI URBAN 4.58 04/11/23 CNY 60.81
LIAOCHENG XINGYE ECONO 5.20 04/13/23 CNY 61.84
LIAOCHENG XINGYE ECONO 5.20 04/13/23 CNY 58.99
LIAONING COASTAL ECONO 8.90 04/01/21 CNY 11.46
LIAONING COASTAL ECONO 8.90 04/01/21 CNY 3.63
LIAONING YAODU DEVELOP 6.50 04/29/23 CNY 61.48
LIAONING YAODU DEVELOP 6.50 04/29/23 CNY 59.87
LILING HIGH-TECH INDUS 4.93 01/19/23 CNY 60.10
LILING HIGH-TECH INDUS 4.93 01/19/23 CNY 58.75
LINFEN CITY INVESTMENT 6.20 05/23/20 CNY 20.04
LINFEN YAODU DISTRICT 7.19 03/13/22 CNY 41.01
LINFEN YAODU DISTRICT 7.19 03/13/22 CNY 40.37
LINFEN YAODU DISTRICT 6.99 09/27/20 CNY 20.13
LINFEN YAODU DISTRICT 6.99 09/27/20 CNY 20.00
LISHUI CITY CONSTRUCTI 5.67 08/13/22 CNY 61.76
LISHUI CITY CONSTRUCTI 5.67 08/13/22 CNY 60.00
LISHUI CITY CONSTRUCTI 6.00 05/23/20 CNY 20.10
LISHUI CITY CONSTRUCTI 6.00 05/23/20 CNY 20.02
LIUPANSHUI AFFORDABLE 5.08 01/29/23 CNY 59.38
LIUPANSHUI AFFORDABLE 5.08 01/29/23 CNY 59.27
LIUPANSHUI DEVELOPMENT 3.74 01/20/23 CNY 61.18
LIUPANSHUI DEVELOPMENT 3.74 01/20/23 CNY 60.94
LIUYANG MODERN MANUFAC 4.72 01/19/23 CNY 61.09
LIUYANG MODERN MANUFAC 4.72 01/19/23 CNY 60.14
LIUYANG NEW INDUSTRIAL 4.43 10/23/22 CNY 60.68
LIUYANG NEW INDUSTRIAL 4.43 10/23/22 CNY 60.30
LIUYANG URBAN CONSTRUC 6.98 08/22/21 CNY 41.50
LIUYANG URBAN CONSTRUC 6.98 08/22/21 CNY 41.36
LIUZHOU CITY INVESTMEN 7.18 12/31/22 CNY 47.15
LIUZHOU INVESTMENT HOL 4.28 03/08/23 CNY 60.36
LIUZHOU INVESTMENT HOL 4.28 03/08/23 CNY 60.35
LIUZHOU LONGJIAN INVES 8.28 04/30/24 CNY 64.44
LIYANG KUNLUN URBAN CO 5.90 10/24/21 CNY 40.96
LIYANG KUNLUN URBAN CO 5.90 10/24/21 CNY 38.00
LONGHAI STATE-OWNED AS 6.58 08/15/21 CNY 40.97
LONGYAN RAILWAY CONSTR 4.98 04/13/23 CNY 60.16
LONGYAN RAILWAY CONSTR 4.98 04/13/23 CNY 59.25
LOUDI CITY CONSTRUCTIO 7.95 04/15/21 CNY 30.31
LOUDI CITY CONSTRUCTIO 7.95 04/15/21 CNY 20.59
LOUDI TIDU INVESTMENT 4.83 01/20/23 CNY 60.99
LOUDI TIDU INVESTMENT 4.83 01/20/23 CNY 60.23
LOUDI TIDU INVESTMENT 7.18 08/27/21 CNY 41.00
LOUDI TIDU INVESTMENT 7.18 08/27/21 CNY 40.00
LOUDI WANBAO NEW DISTR 5.13 02/01/23 CNY 60.24
LOUDI WANBAO NEW DISTR 5.13 02/01/23 CNY 59.91
LU'AN CITY CONSTRUCTIO 5.05 04/26/21 CNY 51.14
LU'AN CITY CONSTRUCTIO 3.97 02/22/21 CNY 50.60
LU'AN CITY CONSTRUCTIO 5.20 09/25/20 CNY 50.57
LUJIANG CITY CONSTRUCT 6.70 04/16/22 CNY 41.09
LUJIANG CITY CONSTRUCT 6.70 04/16/22 CNY 40.00
LUOHE CITY INVESTMENT 5.25 09/11/20 CNY 40.22
LUOYANG CITY COUNTRY C 4.28 04/26/23 CNY 61.83
LUOYANG CITY DEVELOPME 4.47 12/02/22 CNY 61.91
LUOYANG CITY DEVELOPME 4.47 12/02/22 CNY 60.00
LUZHOU XINGLU TOUZI JI 6.41 04/23/25 CNY 70.00
LUZHOU XINGYANG INVEST 4.87 01/28/23 CNY 59.77
LUZHOU XINGYANG INVEST 4.87 01/28/23 CNY 59.76
MA'ANSHAN CIHU HIGH TE 6.85 09/09/21 CNY 43.00
MA'ANSHAN CIHU HIGH TE 6.85 09/09/21 CNY 41.24
MAANSHAN ECONOMIC TECH 6.49 03/06/22 CNY 44.99
MAANSHAN ECONOMIC TECH 6.49 03/06/22 CNY 41.11
MAANSHAN HUASHAN DISTR 6.07 04/20/22 CNY 41.83
MAANSHAN HUASHAN DISTR 6.07 04/20/22 CNY 41.42
MEISHAN CITY ASSET OPE 7.84 02/26/21 CNY 20.70
MEISHAN CITY ASSET OPE 7.84 02/26/21 CNY 20.40
MEISHAN HONGDA CONSTRU 4.18 03/28/23 CNY 60.11
MEISHAN HONGDA CONSTRU 4.18 03/28/23 CNY 60.08
MEISHAN HONGDA CONSTRU 6.56 06/19/20 CNY 20.06
MEISHAN HONGDA CONSTRU 6.56 06/19/20 CNY 20.02
MEIZHOU CITY XIN JIN Y 6.02 04/22/22 CNY 45.32
MEIZHOU CITY XIN JIN Y 6.02 04/22/22 CNY 41.60
MEIZHOU KANGDA HIGHWAY 6.95 09/10/20 CNY 20.25
MEIZHOU KANGDA HIGHWAY 6.95 09/10/20 CNY 20.23
MEIZHOU MEI COUNTY DIS 5.00 12/30/22 CNY 60.40
MEIZHOU MEI COUNTY DIS 5.00 12/30/22 CNY 60.00
MUDANJIANG AREA URBAN 6.48 06/30/22 CNY 65.00
MUDANJIANG AREA URBAN 6.48 06/30/22 CNY 61.56
MUDANJIANG STATE-OWNED 7.70 04/14/21 CNY 20.57
MUDANJIANG STATE-OWNED 7.70 04/14/21 CNY 20.56
MUNICIPALITY OF SHENZH 3.00 03/29/22 CNY 60.00
MUNICIPALITY OF SHENZH 3.00 03/29/22 CNY 60.00
NANCHANG WATER CONSERV 6.28 06/21/20 CNY 20.09
NANCHANG WATER CONSERV 6.28 06/21/20 CNY 20.08
NANCHONG AIRPORT INVES 6.80 01/26/22 CNY 41.29
NANCHONG AIRPORT INVES 6.80 01/26/22 CNY 40.95
NANCHONG ECONOMIC DEVE 8.28 04/21/21 CNY 31.20
NANCHONG ECONOMIC DEVE 8.28 04/21/21 CNY 20.84
NANJING BAIXIA STATE-O 3.98 03/29/23 CNY 61.25
NANJING BAIXIA STATE-O 3.98 03/29/23 CNY 60.99
NANJING HEXI NEW TOWN 3.20 07/22/21 CNY 69.50
NANJING HEXI NEW TOWN 3.47 06/17/21 CNY 66.00
NANJING JIANGNING ECON 7.94 04/14/24 CNY 66.82
NANJING LISHUI ECONOMI 6.27 09/22/21 CNY 41.29
NANJING LISHUI ECONOMI 6.27 09/22/21 CNY 41.23
NANJING LISHUI URBAN C 4.97 04/28/23 CNY 61.88
NANJING LISHUI URBAN C 4.97 04/28/23 CNY 61.01
NANJING LISHUI URBAN C 5.80 05/29/20 CNY 20.13
NANJING LISHUI URBAN C 5.80 05/29/20 CNY 20.02
NANJING STATE OWNED AS 5.60 03/06/23 CNY 47.47
NANJING STATE OWNED AS 5.60 03/06/23 CNY 47.10
NANJING TANGSHAN CONST 6.80 06/30/21 CNY 46.80
NANJING TANGSHAN CONST 6.80 06/30/21 CNY 40.98
NANNING HI-TECH INDUST 4.28 03/25/23 CNY 59.66
NANNING HI-TECH INDUST 4.28 03/25/23 CNY 55.20
NANNING LVGANG CONSTRU 7.30 06/27/21 CNY 44.80
NANNING LVGANG CONSTRU 7.30 06/27/21 CNY 40.72
NANPING CITY WUYI NEW 4.96 09/28/22 CNY 61.18
NANPING CITY WUYI NEW 4.96 09/28/22 CNY 60.60
NANPING CITY WUYI NEW 6.70 08/06/20 CNY 20.15
NANPING CITY WUYI NEW 6.70 08/06/20 CNY 20.12
NANTONG CHONGCHUAN URB 7.15 04/18/21 CNY 25.40
NANTONG CHONGCHUAN URB 7.15 04/18/21 CNY 20.69
NANTONG CITY GANGZHA D 3.80 09/06/21 CNY 70.71
NANTONG CITY GANGZHA D 3.80 09/06/21 CNY 70.34
NANTONG ECONOMIC & TEC 5.80 05/17/20 CNY 20.25
NANTONG ECONOMIC & TEC 5.80 05/17/20 CNY 20.01
NANTONG HIGH TECHNOLOG 5.00 10/19/22 CNY 61.87
NANTONG HIGH TECHNOLOG 5.00 10/19/22 CNY 61.52
NANTONG SUTONG SCIENCE 6.20 03/18/22 CNY 41.35
NANTONG SUTONG SCIENCE 6.20 03/18/22 CNY 40.00
NANYANG HIGH-TECH DIST 6.45 04/29/23 CNY 63.32
NANYANG HIGH-TECH DIST 6.45 04/29/23 CNY 62.94
NANYANG INVESTMENT GRO 7.05 10/24/20 CNY 20.36
NANYANG INVESTMENT GRO 7.05 10/24/20 CNY 20.29
NEIJIANG INVESTMENT HO 7.99 04/24/21 CNY 28.53
NEIJIANG INVESTMENT HO 7.99 04/24/21 CNY 20.62
NEIJIANG STATE-OWNED A 6.20 04/12/23 CNY 59.60
NEIJIANG STATE-OWNED A 6.20 04/12/23 CNY 59.40
NEIJINAG CONSTRUCTION 5.03 12/25/22 CNY 60.18
NEIJINAG CONSTRUCTION 5.03 12/25/22 CNY 56.36
NEOGLORY HOLDING GROUP 8.00 10/22/20 CNY 56.00
NEOGLORY HOLDING GROUP 8.00 09/25/20 CNY 60.00
NEOGLORY HOLDING GROUP 8.10 11/23/18 CNY 72.00
NINGBO CITY HAISHU GUA 7.75 03/06/21 CNY 26.30
NINGBO CITY HAISHU GUA 7.75 03/06/21 CNY 20.77
NINGBO CITY ZHENHAI IN 5.85 12/04/21 CNY 41.34
NINGBO CITY ZHENHAI IN 5.85 12/04/21 CNY 41.20
NINGBO ECONOMIC & TECH 7.09 04/21/21 CNY 29.00
NINGBO ECONOMIC & TECH 7.09 04/21/21 CNY 20.76
NINGBO MEISHAN ISLAND 6.27 03/23/22 CNY 48.29
NINGBO MEISHAN ISLAND 6.27 03/23/22 CNY 41.61
NINGGUO CITY STATE OWN 8.70 04/28/21 CNY 21.50
NINGGUO CITY STATE OWN 8.70 04/28/21 CNY 20.93
NINGHAI COUNTY URBAN I 7.99 04/16/21 CNY 20.88
NINGHAI COUNTY URBAN I 8.00 01/02/21 CNY 25.00
NINGHAI COUNTY URBAN I 8.00 01/02/21 CNY 20.61
NINGXIA TAIRUI PHARMAC 7.00 12/28/22 CNY 75.00
NINGXIANG CITY CONSTRU 6.70 01/20/22 CNY 42.10
NINGXIANG CITY CONSTRU 6.70 01/20/22 CNY 40.20
NINGXIANG ECONOMIC TEC 3.87 01/27/23 CNY 60.58
NINGXIANG ECONOMIC TEC 3.87 01/27/23 CNY 60.40
NINGXIANG ECONOMIC TEC 8.20 04/16/21 CNY 20.67
PANJIN CITY SHUANGTAIZ 6.48 10/23/22 CNY 61.56
PANJIN CITY SHUANGTAIZ 6.48 10/23/22 CNY 60.84
PANJIN CITY SHUANGTAIZ 7.25 01/22/22 CNY 40.76
PANJIN CITY SHUANGTAIZ 7.25 01/22/22 CNY 40.70
PANSHAN COUNTY STATE-O 7.48 01/21/22 CNY 41.23
PANSHAN COUNTY STATE-O 7.48 01/21/22 CNY 41.23
PANZHIHUA STATE OWNED 8.18 03/13/22 CNY 42.36
PANZHIHUA STATE OWNED 7.60 03/05/21 CNY 20.48
PANZHIHUA STATE OWNED 7.60 03/05/21 CNY 20.32
PANZHIHUA STATE OWNED 5.41 07/29/20 CNY 19.30
PEIXIAN CITY INVESTMEN 5.20 11/10/22 CNY 60.69
PEIXIAN CITY INVESTMEN 5.20 11/10/22 CNY 60.00
PEKING UNIVERSITY FOUN 6.30 03/04/24 CNY 49.00
PEKING UNIVERSITY FOUN 6.50 11/16/23 CNY 49.00
PEKING UNIVERSITY FOUN 6.68 08/09/23 CNY 49.00
PEKING UNIVERSITY FOUN 5.80 01/28/22 CNY 49.00
PEKING UNIVERSITY FOUN 5.99 11/02/21 CNY 49.00
PEKING UNIVERSITY FOUN 6.10 08/22/21 CNY 49.00
PEKING UNIVERSITY FOUN 4.80 07/26/21 CNY 49.00
PEKING UNIVERSITY FOUN 6.30 09/12/20 CNY 49.00
PEKING UNIVERSITY FOUN 6.15 07/23/20 CNY 49.00
PEKING UNIVERSITY FOUN 6.20 05/31/20 CNY 49.00
PINGHU CITY INVESTMENT 5.13 04/29/23 CNY 62.03
PINGHU CITY INVESTMENT 5.13 04/29/23 CNY 61.81
PINGHU ECONOMIC DEVELO 7.99 04/17/21 CNY 20.80
PINGHU ECONOMIC DEVELO 7.99 04/17/21 CNY 20.73
PINGLIANG CHENGXIANG C 7.10 09/17/20 CNY 20.31
PINGLIANG CHENGXIANG C 7.10 09/17/20 CNY 20.20
PINGLIANG CULTURAL & T 6.85 11/30/22 CNY 61.14
PINGLIANG CULTURAL & T 6.85 11/30/22 CNY 55.50
PINGTAN COMPREHENSIVE 3.92 01/29/23 CNY 60.87
PINGTAN COMPREHENSIVE 3.92 01/29/23 CNY 60.30
PINGXIANG CHANGXING IN 5.26 04/11/23 CNY 60.28
PINGXIANG CHANGXING IN 5.26 04/11/23 CNY 59.48
PINGXIANG HUIFENG INVE 6.60 01/26/22 CNY 40.46
PINGXIANG HUIFENG INVE 6.60 01/26/22 CNY 40.00
PINGYANG STATE-OWNED A 4.97 01/08/23 CNY 60.92
PINGYANG STATE-OWNED A 4.97 01/08/23 CNY 60.00
PIZHOU CITY HENGRUN IN 6.46 12/05/21 CNY 42.46
PIZHOU CITY HENGRUN IN 6.46 12/05/21 CNY 41.40
PIZHOU ECONOMIC DEVELO 5.00 10/29/22 CNY 60.00
PIZHOU ECONOMIC DEVELO 5.00 10/29/22 CNY 59.74
PIZHOU RUNCAI ASSET MA 5.90 12/18/20 CNY 50.49
PUTIAN HIGH TECHNOLOGY 5.90 05/03/22 CNY 51.10
PUTIAN HIGH TECHNOLOGY 5.90 05/03/22 CNY 51.09
PUYANG INVESTMENT GROU 8.00 12/11/20 CNY 20.51
PUYANG INVESTMENT GROU 8.00 12/11/20 CNY 20.00
QIANAN URBAN CONSTRUCT 7.19 08/11/21 CNY 41.18
QIANAN URBAN CONSTRUCT 7.19 08/11/21 CNY 40.00
QIANAN URBAN CONSTRUCT 8.88 01/23/21 CNY 20.79
QIANAN URBAN CONSTRUCT 8.88 01/23/21 CNY 20.00
QIANAN XINGYUAN WATER 6.25 04/22/22 CNY 46.90
QIANAN XINGYUAN WATER 6.25 04/22/22 CNY 41.27
QIANDONGNAN TRANSPORTA 5.79 12/21/22 CNY 59.00
QIANDONGNAN TRANSPORTA 5.79 12/21/22 CNY 57.28
QIANDONGNANZHOU KAIHON 5.30 09/22/26 CNY 74.80
QIANJIANG URBAN CONSTR 5.19 12/21/22 CNY 60.38
QIANJIANG URBAN CONSTR 5.19 12/21/22 CNY 60.00
QIANJIANG URBAN CONSTR 8.38 04/22/21 CNY 21.00
QIANJIANG URBAN CONSTR 8.38 04/22/21 CNY 20.91
QIANNANZHOU INVESTMENT 6.43 03/09/22 CNY 39.56
QIANNANZHOU INVESTMENT 6.43 03/09/22 CNY 38.50
QIDONG COMMUNICATIONS 4.00 03/18/23 CNY 60.92
QIDONG COMMUNICATIONS 4.00 03/18/23 CNY 60.75
QIDONG STATE-OWNED ASS 4.00 03/09/23 CNY 60.49
QIDONG STATE-OWNED ASS 4.00 03/09/23 CNY 59.30
QIDONG STATE-OWNED ASS 7.30 11/20/22 CNY 47.67
QIDONG STATE-OWNED ASS 7.30 11/20/22 CNY 47.60
QIDONG URBAN CONSTRUCT 7.90 04/28/21 CNY 20.96
QIDONG URBAN CONSTRUCT 8.20 04/04/21 CNY 20.98
QIHE CITY OPERATION CO 5.10 03/07/23 CNY 60.54
QIHE CITY OPERATION CO 5.10 03/07/23 CNY 60.02
QINGDAO CONSON DEVELOP 6.40 12/12/22 CNY 47.65
QINGDAO CONSON DEVELOP 6.40 12/12/22 CNY 47.20
QINGDAO HICREAT DEVELO 6.88 04/25/21 CNY 21.13
QINGDAO HICREAT DEVELO 6.88 04/25/21 CNY 20.78
QINGDAO JIAOZHOU BAY D 6.33 09/18/21 CNY 41.33
QINGDAO JIMO CITY TOUR 5.47 11/17/21 CNY 41.18
QINGDAO JIMO CITY TOUR 5.47 11/17/21 CNY 41.00
QINGDAO LAIXI CITY ASS 7.50 03/06/21 CNY 28.79
QINGDAO LAIXI CITY ASS 7.50 03/06/21 CNY 20.69
QINGHAI PROVINCIAL INV 6.40 07/10/21 USD 35.76
QINGHAI PROVINCIAL INV 7.88 03/22/21 USD 35.47
QINGHAI STATE-OWNED AS 5.90 12/17/22 CNY 60.00
QINGYANG CITY ECONOMIC 7.98 04/16/21 CNY 20.61
QINGYANG CITY ECONOMIC 7.98 04/16/21 CNY 20.60
QINGYUAN TRANSPORTATIO 8.20 12/19/20 CNY 20.55
QINGZHOU HONGYUAN PUBL 7.59 05/29/21 CNY 47.50
QINGZHOU HONGYUAN PUBL 7.59 05/29/21 CNY 40.52
QINHUANGDAO CITY DEVEL 4.69 04/14/23 CNY 60.76
QINHUANGDAO CITY DEVEL 4.69 04/14/23 CNY 59.95
QINHUANGDAO DEVELOPMEN 8.45 04/18/21 CNY 21.28
QINHUANGDAO DEVELOPMEN 8.45 04/18/21 CNY 20.73
QINHUANGDAO DEVELOPMEN 8.00 12/17/20 CNY 20.42
QINHUANGDAO DEVELOPMEN 8.00 12/17/20 CNY 20.00
QINZHOU BINHAI NEW CIT 7.00 08/27/20 CNY 20.16
QINZHOU BINHAI NEW CIT 7.00 08/27/20 CNY 20.00
QINZHOU BINHAI NEW CIT 6.99 07/07/21 CNY 40.77
QINZHOU BINHAI NEW CIT 6.99 07/07/21 CNY 40.00
QIONGLAI CITY CONSTRUC 6.98 03/25/22 CNY 44.90
QIONGLAI CITY CONSTRUC 6.98 03/25/22 CNY 41.00
QUJING CITY QILIN DIST 5.37 11/26/22 CNY 61.95
QUJING CITY QILIN DIST 5.37 11/26/22 CNY 60.06
QUJING DEVELOPMENT INV 7.48 04/28/21 CNY 40.82
QUJING DEVELOPMENT INV 7.48 04/28/21 CNY 22.55
QUJING ECO TECH DEVELO 7.48 07/21/21 CNY 40.76
QUJING ECO TECH DEVELO 7.48 07/21/21 CNY 40.50
QUZHOU STATE OWNED ASS 7.20 04/21/21 CNY 23.42
QUZHOU STATE OWNED ASS 7.20 04/21/21 CNY 20.79
RENHUAI CITY DEVELOPME 5.12 04/14/23 CNY 59.91
RENHUAI CITY DEVELOPME 5.12 04/14/23 CNY 59.90
RENHUAI CITY DEVELOPME 8.09 05/16/21 CNY 41.03
RENHUAI CITY DEVELOPME 8.09 05/16/21 CNY 41.01
RENQIU CONSTRUCTION IN 5.68 11/18/22 CNY 60.53
RENQIU CONSTRUCTION IN 5.68 11/18/22 CNY 58.22
RENSHOU DEVELOPMENT OF 6.42 12/22/22 CNY 60.99
RENSHOU DEVELOPMENT OF 6.42 12/22/22 CNY 60.00
REWARD SCIENCE AND TEC 6.40 03/03/22 CNY 70.00
REWARD SCIENCE AND TEC 5.53 07/05/21 CNY 29.10
RIGHT WAY REAL ESTATE 8.00 07/15/21 CNY 43.89
RIZHAO CITY CONSTRUCTI 3.98 12/07/22 CNY 60.68
RIZHAO CITY CONSTRUCTI 3.98 12/07/22 CNY 60.10
RIZHAO CITY CONSTRUCTI 5.80 06/06/20 CNY 20.03
RUDONG COUNTY DONGTAI 6.99 06/20/21 CNY 45.90
RUDONG COUNTY DONGTAI 6.99 06/20/21 CNY 40.91
RUDONG COUNTY JINXIN T 8.08 03/03/21 CNY 24.03
RUDONG COUNTY JINXIN T 8.08 03/03/21 CNY 20.73
RUDONG COUNTY KAITAI C 4.57 01/08/23 CNY 61.27
RUGAO COMMUNICATIONS C 3.74 03/23/23 CNY 60.82
RUGAO COMMUNICATIONS C 3.74 03/23/23 CNY 60.50
RUGAO ECONOMIC & TRADE 3.95 03/24/23 CNY 61.02
RUGAO ECONOMIC & TRADE 3.95 03/24/23 CNY 60.88
RUGAO ECONOMIC & TRADE 8.30 01/22/21 CNY 29.00
RUGAO ECONOMIC & TRADE 8.30 01/22/21 CNY 20.76
RUGAO YANJIANG DEVELOP 8.60 01/24/21 CNY 20.93
RUGAO YANJIANG DEVELOP 8.60 01/24/21 CNY 20.74
RUIAN STATE OWNED ASSE 4.56 01/27/23 CNY 61.49
RUIAN STATE OWNED ASSE 4.56 01/27/23 CNY 60.94
RUICHANG CITY INVESTME 5.68 03/25/23 CNY 60.90
RUICHANG CITY INVESTME 5.68 03/25/23 CNY 59.58
RUZHOU CITY XINYUAN IN 6.30 09/16/21 CNY 53.30
RUZHOU CITY XINYUAN IN 6.30 09/16/21 CNY 49.61
SANMEN COUNTY STATE-OW 6.80 03/18/22 CNY 41.12
SANMEN COUNTY STATE-OW 6.80 03/18/22 CNY 40.00
SANMEN COUNTY STATE-OW 6.85 10/29/21 CNY 41.08
SANMEN COUNTY STATE-OW 6.85 10/29/21 CNY 40.00
SANMING TRANSPORTATION 3.68 03/29/23 CNY 60.72
SANMING TRANSPORTATION 3.68 03/29/23 CNY 60.15
SHAANXI ANKANG HIGH TE 8.78 09/17/21 CNY 47.00
SHAANXI ANKANG HIGH TE 8.78 09/17/21 CNY 41.60
SHAANXI PROVINCIAL EXP 5.99 06/18/20 CNY 60.22
SHAANXI XIXIAN NEW ARE 6.85 08/15/21 CNY 45.50
SHAANXI XIXIAN NEW ARE 6.85 08/15/21 CNY 40.98
SHAANXI XIXIAN NEW ARE 6.89 01/05/22 CNY 43.10
SHAANXI XIXIAN NEW ARE 6.89 01/05/22 CNY 41.22
SHAANXI XIXIAN NEW ARE 5.15 11/27/22 CNY 61.07
SHAANXI XIXIAN NEW ARE 5.15 11/27/22 CNY 61.01
SHANDONG BORUN INDUSTR 6.50 11/02/21 CNY 66.53
SHANDONG BOXING COUNTY 8.00 12/22/21 CNY 42.00
SHANDONG BOXING COUNTY 8.00 12/22/21 CNY 41.95
SHANDONG CENTURY SUNSH 8.19 07/21/21 CNY 41.34
SHANDONG CENTURY SUNSH 8.19 07/21/21 CNY 41.32
SHANDONG FUYU CHEMICAL 7.70 09/18/22 CNY 70.00
SHANDONG GAOCHUANG CON 6.05 06/18/22 CNY 62.45
SHANDONG GAOCHUANG CON 6.05 06/18/22 CNY 61.76
SHANDONG HONGHE HOLDIN 8.50 06/23/21 CNY 44.00
SHANDONG HONGHE HOLDIN 8.50 06/23/21 CNY 41.24
SHANDONG JINMAO TEXTIL 6.97 04/01/21 CNY 20.70
SHANDONG JINMAO TEXTIL 8.00 09/25/20 CNY 35.84
SHANDONG RENCHENG RONG 7.30 10/18/20 CNY 23.40
SHANDONG RENCHENG RONG 7.30 10/18/20 CNY 20.32
SHANDONG RUYI TECHNOLO 7.90 09/18/23 CNY 52.10
SHANDONG SNTON GROUP C 5.18 09/08/21 CNY 8.52
SHANDONG SNTON GROUP C 6.20 05/30/21 CNY 9.50
SHANDONG TAIYANG INDUS 5.97 03/02/21 CNY 42.86
SHANDONG TENGJIAN INVE 6.00 06/08/22 CNY 60.73
SHANDONG TENGJIAN INVE 6.00 06/08/22 CNY 60.00
SHANDONG WANTONG PETRO 7.97 11/29/21 CNY 31.45
SHANGHAI CAOHEJING HI- 7.24 04/09/21 CNY 20.73
SHANGHAI CAOHEJING HI- 7.24 04/09/21 CNY 20.72
SHANGHAI CHONGMING CON 6.40 06/13/20 CNY 25.09
SHANGHAI JIADING ROAD 6.80 04/23/21 CNY 20.75
SHANGHAI JIADING ROAD 6.80 04/23/21 CNY 20.64
SHANGHAI LAKE DIANSHAN 5.95 01/30/21 CNY 25.61
SHANGHAI LAKE DIANSHAN 5.95 01/30/21 CNY 25.51
SHANGHAI MINHANG URBAN 5.63 04/20/22 CNY 41.78
SHANGHAI MINHANG URBAN 5.63 04/20/22 CNY 40.79
SHANGHAI MUNICIPAL INV 4.80 11/05/24 CNY 73.52
SHANGHAI NANHUI URBAN 6.04 08/20/21 CNY 41.24
SHANGHAI NANHUI URBAN 6.04 08/20/21 CNY 41.20
SHANGHAI PUTAILAI NEW 5.50 03/19/21 CNY 66.67
SHANGHAI PUTAILAI NEW 5.30 05/18/20 CNY 66.67
SHANGHAI URBAN CONSTRU 3.50 01/06/23 CNY 61.07
SHANGHAI URBAN CONSTRU 3.50 01/06/23 CNY 60.77
SHANGHAI YONGYE ENTERP 6.84 05/21/20 CNY 25.04
SHANGLUO CITY CONSTRUC 7.05 09/09/20 CNY 25.40
SHANGLUO CITY CONSTRUC 7.05 09/09/20 CNY 20.24
SHANGRAO CITY STATE-OW 4.65 01/29/23 CNY 61.47
SHANGRAO CITY STATE-OW 4.65 01/29/23 CNY 61.34
SHANTOU CITY CONSTRUCT 8.57 03/23/22 CNY 32.23
SHANTOU INVESTMENT & F 7.99 03/04/24 CNY 66.22
SHANXI XIANG KUANG GRO 8.80 02/11/22 CNY 68.38
SHANXI XIANG KUANG GRO 8.80 02/11/22 CNY 54.50
SHAOWU URBAN CONSTRUCT 5.88 09/11/22 CNY 63.39
SHAOWU URBAN CONSTRUCT 5.88 09/11/22 CNY 60.79
SHAOXING CHENGZHONGCUN 6.09 04/27/22 CNY 41.60
SHAOXING CHENGZHONGCUN 6.09 04/27/22 CNY 40.00
SHAOXING CITY INVESTME 5.75 04/17/22 CNY 48.00
SHAOXING CITY INVESTME 5.75 04/17/22 CNY 42.03
SHAOXING CITY KEQIAO D 6.40 08/20/21 CNY 41.20
SHAOXING CITY KEQIAO D 6.40 08/20/21 CNY 40.98
SHAOXING COUNTY KEYAN 6.28 03/24/22 CNY 41.67
SHAOXING COUNTY KEYAN 6.28 03/24/22 CNY 40.00
SHAOXING JINGHU NEW DI 6.13 04/30/22 CNY 61.82
SHAOXING JINGHU NEW DI 6.13 04/30/22 CNY 41.90
SHAOXING KEQIAO ECONOM 7.00 12/10/21 CNY 41.29
SHAOXING KEQIAO ECONOM 7.00 12/10/21 CNY 40.00
SHAOXING PAOJIANG INDU 6.98 05/29/21 CNY 43.90
SHAOXING PAOJIANG INDU 6.98 05/29/21 CNY 40.74
SHAOXING SHANGYU ECONO 4.76 04/11/23 CNY 61.50
SHAOXING SHANGYU ECONO 4.76 04/11/23 CNY 61.49
SHAOXING SHANGYU HANGZ 6.95 10/11/20 CNY 20.55
SHAOXING SHANGYU HANGZ 6.95 10/11/20 CNY 20.37
SHAOXING SHANGYU URBAN 6.80 08/07/21 CNY 41.20
SHAOXING SHANGYU URBAN 6.80 08/07/21 CNY 41.14
SHAOYANG CITY CONSTRUC 8.58 01/17/21 CNY 21.00
SHAOYANG CITY CONSTRUC 8.58 01/17/21 CNY 20.57
SHAOYANG DULIANG INVES 5.50 04/13/23 CNY 60.76
SHAOYANG DULIANG INVES 5.50 04/13/23 CNY 58.14
SHENGZHOU INVESTMENT H 7.60 07/17/21 CNY 41.57
SHENGZHOU INVESTMENT H 7.60 07/17/21 CNY 41.44
SHENMU CITY STATE-OWNE 7.28 06/23/21 CNY 41.07
SHENMU CITY STATE-OWNE 7.28 06/23/21 CNY 41.00
SHENYANG DADONG STATE- 6.05 03/20/22 CNY 41.19
SHENYANG DADONG STATE- 6.05 03/20/22 CNY 40.00
SHENYANG ECONOMIC AFFO 7.17 04/29/22 CNY 60.32
SHENYANG ECONOMIC AFFO 7.17 04/29/22 CNY 41.26
SHENYANG SUJIATUN DIST 6.40 06/20/20 CNY 20.06
SHENYANG SUJIATUN DIST 6.40 06/20/20 CNY 20.00
SHENYANG TIEXI STATE-O 6.00 01/14/22 CNY 47.50
SHENYANG TIEXI STATE-O 6.00 01/14/22 CNY 41.17
SHENZHEN METRO GROUP C 6.75 01/24/24 CNY 65.48
SHENZHEN METRO GROUP C 6.75 01/24/24 CNY 64.90
SHENZHEN METRO GROUP C 5.40 03/25/23 CNY 47.44
SHIJIAZHUANG HUTUO NEW 5.28 12/24/25 CNY 62.96
SHIJIAZHUANG HUTUO NEW 5.28 12/24/25 CNY 62.50
SHIJIAZHUANG REAL ESTA 5.65 05/15/20 CNY 20.00
SHIJIAZHUANG STATE-OWN 5.75 04/09/22 CNY 47.20
SHIJIAZHUANG STATE-OWN 5.75 04/09/22 CNY 41.54
SHIJIAZHUANG URBAN CON 6.55 03/09/21 CNY 41.40
SHISHI CITY CONSTRUCTI 6.10 05/04/22 CNY 61.90
SHISHI CITY CONSTRUCTI 6.10 05/04/22 CNY 41.78
SHIYAN STATE-OWNED CAP 6.58 08/20/21 CNY 41.21
SHIYAN STATE-OWNED CAP 6.58 08/20/21 CNY 40.00
SHIYAN STATE-OWNED CAP 6.88 10/11/20 CNY 20.68
SHIYAN STATE-OWNED CAP 6.88 10/11/20 CNY 20.36
SHOUGUANG CITY CONSTRU 7.10 10/18/20 CNY 22.87
SHOUGUANG CITY CONSTRU 7.10 10/18/20 CNY 20.29
SHUCHENG COUNTY URBAN 5.50 04/29/23 CNY 62.20
SHUCHENG COUNTY URBAN 5.50 04/29/23 CNY 62.19
SHUYANG JINGYUAN ASSET 5.49 09/11/22 CNY 66.00
SHUYANG JINGYUAN ASSET 5.49 09/11/22 CNY 61.27
SHUYANG JINGYUAN ASSET 7.39 04/14/21 CNY 20.59
SHUYANG JINGYUAN ASSET 7.39 04/14/21 CNY 20.00
SICHUAN CHENGDU ABA DE 7.18 09/12/20 CNY 20.30
SICHUAN CHENGDU ABA DE 7.18 09/12/20 CNY 20.00
SICHUAN COAL GASIFICAT 7.00 04/18/23 CNY 60.45
SICHUAN COAL INDUSTRY 7.70 01/09/18 CNY 45.00
SICHUAN LANGZHONG FAMO 5.60 04/19/23 CNY 60.88
SICHUAN LANGZHONG FAMO 5.60 04/19/23 CNY 60.87
SICHUAN NAXING INDUSTR 4.68 03/31/23 CNY 59.06
SICHUAN NAXING INDUSTR 4.68 03/31/23 CNY 58.24
SICHUAN NAXING INDUSTR 7.17 09/11/21 CNY 40.71
SICHUAN NAXING INDUSTR 7.17 09/11/21 CNY 40.00
SICHUAN TIANYIN INDUST 6.79 03/25/22 CNY 48.00
SICHUAN TIANYIN INDUST 6.79 03/25/22 CNY 41.27
SIHONG COUNTY HONG YUA 6.15 03/16/22 CNY 41.50
SIHONG COUNTY HONG YUA 6.15 03/16/22 CNY 40.00
SIHUI STATE OWNED ASSE 4.59 01/14/23 CNY 60.95
SIHUI STATE OWNED ASSE 4.59 01/14/23 CNY 60.32
SIYANG COUNTY MINKANG 4.94 01/21/23 CNY 60.99
SIYANG COUNTY MINKANG 4.94 01/21/23 CNY 58.68
SLENDER WEST LAKE TOUR 6.80 06/25/21 CNY 40.86
SLENDER WEST LAKE TOUR 6.80 06/25/21 CNY 40.00
SONGYUAN URBAN DEVELOP 5.79 12/04/21 CNY 40.78
SONGYUAN URBAN DEVELOP 5.79 12/04/21 CNY 40.71
SUINING CITY HEDONG DE 8.36 04/17/21 CNY 27.82
SUINING CITY HEDONG DE 8.36 04/17/21 CNY 20.76
SUINING COUNTY RUNQI I 5.42 11/20/22 CNY 60.97
SUINING COUNTY RUNQI I 5.42 11/20/22 CNY 60.00
SUINING COUNTY RUNQI I 7.10 06/25/21 CNY 40.74
SUINING COUNTY RUNQI I 7.10 06/25/21 CNY 40.30
SUINING FUYUAN INDUSTR 6.39 03/17/22 CNY 44.18
SUINING FUYUAN INDUSTR 6.39 03/17/22 CNY 41.18
SUINING KAIDA INVESTME 4.89 04/08/23 CNY 60.42
SUINING KAIDA INVESTME 4.89 04/08/23 CNY 60.09
SUINING KAIDA INVESTME 8.69 04/21/21 CNY 20.69
SUINING KAIDA INVESTME 8.69 04/21/21 CNY 20.00
SUIZHOU DEVELOPMENT IN 8.40 04/30/21 CNY 21.91
SUIZHOU DEVELOPMENT IN 8.40 04/30/21 CNY 20.84
SUIZHOU DEVELOPMENT IN 8.50 12/20/20 CNY 21.83
SUIZHOU DEVELOPMENT IN 8.50 12/20/20 CNY 20.64
SUIZHOU HIGH-TECH INDU 4.47 03/25/23 CNY 60.89
SUIZHOU HIGH-TECH INDU 4.47 03/25/23 CNY 59.18
SUIZHOU URBAN CONSTRUC 7.18 09/02/21 CNY 41.20
SUIZHOU URBAN CONSTRUC 7.18 09/02/21 CNY 41.06
SUIZHOU YULONG WATER S 6.10 03/28/23 CNY 62.80
SUNSHINE KAIDI NEW ENE 6.12 08/23/20 CNY 40.18
SUNSHINE KAIDI NEW ENE 6.12 08/23/20 CNY 29.01
SUQIAN CITY CONSTRUCTI 6.88 10/29/20 CNY 20.38
SUZHOU CITY CONSTRUCTI 3.89 03/24/23 CNY 60.81
SUZHOU CITY CONSTRUCTI 3.89 03/24/23 CNY 60.52
SUZHOU CITY HENGCHENG 4.40 03/01/23 CNY 61.85
SUZHOU CITY HENGCHENG 4.40 03/01/23 CNY 61.55
SUZHOU FENHU INVESTMEN 7.49 02/28/21 CNY 20.80
SUZHOU FENHU INVESTMEN 7.49 02/28/21 CNY 20.51
SUZHOU NEW & HIGH-TECH 4.18 03/23/23 CNY 60.50
SUZHOU NEW & HIGH-TECH 4.18 03/23/23 CNY 60.41
SUZHOU NEW DISTRICT EC 6.20 07/22/21 CNY 41.10
SUZHOU NEW DISTRICT EC 6.20 07/22/21 CNY 40.92
SUZHOU WUJIANG COMMUNI 6.80 10/31/20 CNY 25.48
SUZHOU WUJIANG COMMUNI 6.80 10/31/20 CNY 25.19
SUZHOU WUJIANG DISTRIC 5.25 07/08/22 CNY 61.83
SUZHOU WUJIANG DISTRIC 5.25 07/08/22 CNY 61.60
SUZHOU XIANGCHENG URBA 6.95 03/19/21 CNY 22.60
SUZHOU XIANGCHENG URBA 6.95 03/19/21 CNY 20.68
TAHOE GROUP CO LTD 7.50 07/05/20 CNY 70.00
TAIAN TAISHAN HOLDINGS 5.50 04/26/23 CNY 62.09
TAIAN TAISHAN HOLDINGS 5.50 04/26/23 CNY 60.92
TAICANG ASSETS MANAGEM 7.00 02/27/21 CNY 20.70
TAICANG ASSETS MANAGEM 7.00 02/27/21 CNY 20.38
TAICANG SCIENCE EDUCAT 5.54 08/28/22 CNY 64.65
TAICANG SCIENCE EDUCAT 5.54 08/28/22 CNY 61.80
TAIXING CITY CHENGXING 8.30 12/12/20 CNY 21.30
TAIXING CITY CHENGXING 8.30 12/12/20 CNY 20.43
TAIXING CITY HONGQIAO 5.03 10/29/22 CNY 63.87
TAIXING CITY HONGQIAO 5.03 10/29/22 CNY 60.87
TAIYUAN ECONOMIC TECHN 7.43 04/24/21 CNY 20.83
TAIYUAN HIGH-SPEED RAI 6.50 10/30/20 CNY 25.45
TAIYUAN HIGH-SPEED RAI 5.18 09/06/20 CNY 40.41
TAIYUAN STATE-OWNED IN 7.20 03/19/21 CNY 26.50
TAIYUAN STATE-OWNED IN 7.20 03/19/21 CNY 20.83
TAIZHOU CITY CONSTRUCT 6.92 10/16/23 CNY 64.10
TAIZHOU CITY CONSTRUCT 6.92 10/16/23 CNY 63.91
TAIZHOU CITY JIANGYAN 7.10 09/03/20 CNY 20.60
TAIZHOU CITY JIANGYAN 7.10 09/03/20 CNY 20.13
TAIZHOU HAILING CITY D 4.60 12/14/22 CNY 60.84
TAIZHOU HAILING CITY D 4.60 12/14/22 CNY 60.00
TAIZHOU JIAOJIANG STAT 6.18 07/06/22 CNY 64.00
TAIZHOU JIAOJIANG STAT 6.18 07/06/22 CNY 62.02
TAIZHOU JIAOJIANG STAT 7.46 09/13/20 CNY 26.00
TAIZHOU JIAOJIANG STAT 7.46 09/13/20 CNY 25.33
TAIZHOU XINBINJIANG DE 7.60 03/05/21 CNY 21.00
TAIZHOU XINBINJIANG DE 7.60 03/05/21 CNY 20.71
TAIZHOU XINTAI GROUP C 4.07 03/23/23 CNY 61.03
TAIZHOU XINTAI GROUP C 4.07 03/23/23 CNY 60.81
TANGSHAN CAOFEIDIAN DE 7.50 10/15/20 CNY 20.25
TIANJIN BAOXING INDUST 7.10 10/17/20 CNY 20.14
TIANJIN BEICHEN DISTRI 7.00 04/21/21 CNY 27.15
TIANJIN BEICHEN DISTRI 7.00 04/21/21 CNY 20.50
TIANJIN BEICHEN TECHNO 6.87 08/20/21 CNY 47.00
TIANJIN BEICHEN TECHNO 6.87 08/20/21 CNY 40.25
TIANJIN BINHAI NEW ARE 6.10 11/23/21 CNY 43.90
TIANJIN BOHAI STATE-OW 3.82 04/18/23 CNY 60.35
TIANJIN DONGFANG CAIXI 5.19 01/29/22 CNY 40.65
TIANJIN DONGFANG CAIXI 5.19 01/29/22 CNY 39.59
TIANJIN DONGLI CITY IN 4.28 12/02/22 CNY 59.50
TIANJIN DONGLI CITY IN 4.28 12/02/22 CNY 59.41
TIANJIN DONGLI CITY IN 6.05 06/19/20 CNY 20.01
TIANJIN ECONOMIC TECHN 6.50 12/03/22 CNY 46.30
TIANJIN ECONOMIC TECHN 6.50 12/03/22 CNY 45.62
TIANJIN GUANGCHENG INV 5.40 04/20/23 CNY 58.42
TIANJIN GUANGCHENG INV 5.40 04/20/23 CNY 58.30
TIANJIN GUANGCHENG INV 6.97 02/22/23 CNY 44.67
TIANJIN GUANGCHENG INV 6.97 02/22/23 CNY 41.65
TIANJIN GUANGCHENG INV 7.45 07/24/21 CNY 49.00
TIANJIN GUANGCHENG INV 7.45 07/24/21 CNY 40.22
TIANJIN HARBOR CONSTRU 6.29 10/21/21 CNY 70.41
TIANJIN HARBOR CONSTRU 8.00 04/01/21 CNY 41.35
TIANJIN HARBOR CONSTRU 8.80 01/24/21 CNY 41.57
TIANJIN HI-TECH INDUST 6.65 09/12/21 CNY 40.60
TIANJIN HI-TECH INDUST 6.65 09/12/21 CNY 40.51
TIANJIN HOPETONE CO LT 7.50 07/25/21 CNY 73.64
TIANJIN HUANCHENG URBA 5.75 04/27/22 CNY 41.70
TIANJIN HUANCHENG URBA 5.75 04/27/22 CNY 40.81
TIANJIN HUANCHENG URBA 7.20 03/21/21 CNY 20.53
TIANJIN HUANCHENG URBA 7.20 03/21/21 CNY 20.35
TIANJIN INFRASTRUCTURE 5.70 02/26/23 CNY 47.35
TIANJIN INFRASTRUCTURE 5.70 02/26/23 CNY 46.00
TIANJIN JINNAN CITY CO 6.50 06/03/21 CNY 40.65
TIANJIN JINNAN CITY CO 6.50 06/03/21 CNY 40.30
TIANJIN LINGANG INVEST 7.75 02/26/21 CNY 20.60
TIANJIN LINGANG INVEST 7.75 02/26/21 CNY 20.50
TIANJIN NINGHE DISTRIC 7.00 05/30/21 CNY 47.50
TIANJIN NINGHE DISTRIC 7.00 05/30/21 CNY 40.58
TIANJIN NINGHE INVESTM 5.50 04/22/23 CNY 59.76
TIANJIN NINGHE INVESTM 5.50 04/22/23 CNY 59.74
TIANJIN RAILWAY CONSTR 5.58 04/13/25 CNY 74.59
TIANJIN RAILWAY CONSTR 5.58 04/13/25 CNY 74.35
TIANJIN REAL ESTATE TR 8.59 03/13/21 CNY 20.87
TIANJIN RESIDENTIAL CO 8.00 12/19/20 CNY 20.19
TIANJIN WATER INVESTME 6.60 07/28/21 CNY 41.80
TIANJIN WATER INVESTME 6.60 07/28/21 CNY 38.95
TIANJIN WATER INVESTME 8.40 01/15/21 CNY 25.63
TIANJIN WUQING STATE-O 4.15 11/17/22 CNY 60.89
TIANJIN WUQING STATE-O 4.15 11/17/22 CNY 60.60
TIANJIN WUQING STATE-O 7.18 03/19/21 CNY 20.89
TIANJIN WUQING STATE-O 7.18 03/19/21 CNY 20.68
TIANJIN WUQING STATE-O 8.00 12/17/20 CNY 20.76
TIANJIN WUQING STATE-O 8.00 12/17/20 CNY 20.47
TIANMEN CITY CONSTRUCT 8.20 08/28/21 CNY 45.16
TIANMEN CITY CONSTRUCT 8.20 08/28/21 CNY 41.44
TIANRUI GROUP CEMENT C 5.95 09/25/20 CNY 54.00
TONGCHENG CITY CONSTRU 5.47 11/09/22 CNY 61.05
TONGCHENG CITY CONSTRU 5.47 11/09/22 CNY 60.00
TONGLING CONSTRUCTION 4.12 03/14/23 CNY 60.57
TONGLING CONSTRUCTION 4.12 03/14/23 CNY 60.00
TONGLING CONSTRUCTION 6.98 08/26/20 CNY 22.50
TONGLING CONSTRUCTION 6.98 08/26/20 CNY 20.20
TONGLING DAJIANG INVES 6.50 01/19/22 CNY 48.00
TONGLING DAJIANG INVES 6.50 01/19/22 CNY 41.29
TONGLU STATE-OWNED ASS 8.09 04/18/21 CNY 20.98
TONGLU STATE-OWNED ASS 8.09 04/18/21 CNY 20.86
TONGXIANG CITY CONSTRU 6.10 05/16/20 CNY 20.01
TONGXIANG CITY CONSTRU 6.10 05/16/20 CNY 20.01
TSINGHUA UNIGROUP CO L 5.20 12/10/23 CNY 54.00
TSINGHUA UNIGROUP CO L 4.94 03/25/22 CNY 70.00
TULUFAN DISTRICT STATE 6.20 03/19/22 CNY 41.40
TULUFAN DISTRICT STATE 6.20 03/19/22 CNY 41.38
TUNGHSU GROUP CO LTD 6.55 03/13/22 CNY 45.00
ULANQAB CITY INVESTMEN 8.39 04/25/22 CNY 52.47
ULANQAB JINING DISTRIC 6.16 03/24/23 CNY 62.06
ULANQAB JINING DISTRIC 6.16 03/24/23 CNY 59.19
URUMQI ECO&TECH DEVELO 6.40 04/13/22 CNY 41.88
URUMQI ECO&TECH DEVELO 6.40 04/13/22 CNY 40.00
WAFANGDIAN COASTAL PRO 3.98 02/01/23 CNY 59.26
WAFANGDIAN COASTAL PRO 3.98 02/01/23 CNY 58.28
WANGCHENG ECONOMIC DEV 6.57 01/22/22 CNY 48.81
WANGCHENG ECONOMIC DEV 6.57 01/22/22 CNY 41.51
WEICHI HOLDING GROUP C 5.40 12/21/20 CNY 54.29
WEIFANG BINHAI INVESTM 6.16 04/16/21 CNY 25.66
WEIHAI LANCHUANG CONST 4.80 12/17/22 CNY 60.62
WEIHAI LANCHUANG CONST 4.80 12/17/22 CNY 59.39
WEIHAI URBAN CONSTRUCT 3.33 03/02/23 CNY 60.20
WEIHAI URBAN CONSTRUCT 3.33 03/02/23 CNY 58.40
WEINAN CITY INVESTMENT 6.09 03/11/22 CNY 41.58
WEINAN CITY INVESTMENT 6.09 03/11/22 CNY 40.00
WENDENG GOLDEN BEACH I 3.97 03/21/23 CNY 60.46
WENDENG GOLDEN BEACH I 3.97 03/21/23 CNY 59.70
WENZHOU CITY CONSTRUCT 5.00 04/26/23 CNY 62.61
WENZHOU CITY CONSTRUCT 5.00 04/26/23 CNY 62.57
WENZHOU CITY CONSTRUCT 4.05 01/25/23 CNY 61.29
WENZHOU CITY CONSTRUCT 4.05 01/25/23 CNY 61.26
WENZHOU GANGCHENG DEVE 5.19 03/29/23 CNY 61.29
WENZHOU GANGCHENG DEVE 5.19 03/29/23 CNY 61.28
WENZHOU HIGH-TECH INDU 7.30 05/30/21 CNY 40.75
WENZHOU HIGH-TECH INDU 7.95 03/21/21 CNY 20.77
WENZHOU LUCHENG CITY D 5.58 11/03/21 CNY 43.00
WENZHOU LUCHENG CITY D 5.58 11/03/21 CNY 40.92
WINTIME ENERGY CO LTD 7.50 04/04/21 CNY 43.63
WINTIME ENERGY CO LTD 7.90 03/29/21 CNY 43.63
WINTIME ENERGY CO LTD 7.90 12/22/20 CNY 43.63
WINTIME ENERGY CO LTD 7.50 12/06/20 CNY 43.63
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 7.00 04/26/19 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
WINTIME ENERGY CO LTD 6.78 10/23/18 CNY 43.63
WINTIME ENERGY CO LTD 7.00 08/25/18 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
WUHAI CITY CONSTRUCTIO 8.19 04/21/21 CNY 20.78
WUHAN CHEDU CORP LTD 7.18 02/27/21 CNY 20.96
WUHAN CHEDU CORP LTD 7.18 02/27/21 CNY 20.74
WUHAN CITY HUANPI DIST 6.43 09/17/21 CNY 43.02
WUHAN CITY HUANPI DIST 6.43 09/17/21 CNY 41.35
WUHAN JIANGXIA URBAN C 8.99 01/20/21 CNY 20.92
WUHAN METRO GROUP CO L 5.25 04/14/22 CNY 41.50
WUHAN METRO GROUP CO L 5.25 04/14/22 CNY 40.96
WUHU COMMUNICATIONS IN 4.50 04/28/23 CNY 61.32
WUHU COMMUNICATIONS IN 4.50 04/28/23 CNY 61.22
WUHU COUNTY CONSTRUCTI 6.60 12/08/21 CNY 46.35
WUHU COUNTY CONSTRUCTI 6.60 12/08/21 CNY 41.22
WUHU JINGHU CONSTRUCTI 6.68 05/16/20 CNY 20.02
WUHU JIUJIANG CONSTRUC 3.96 03/21/23 CNY 60.61
WUHU JIUJIANG CONSTRUC 3.96 03/21/23 CNY 60.49
WUHU JIUJIANG CONSTRUC 8.49 04/14/21 CNY 20.90
WUHU JIUJIANG CONSTRUC 8.49 04/14/21 CNY 20.00
WUHU XINMA INVESTMENT 4.87 11/04/22 CNY 61.52
WUHU XINMA INVESTMENT 4.87 11/04/22 CNY 59.40
WUHU YIJU INVESTMENT G 6.45 08/11/21 CNY 41.45
WUHU YIJU INVESTMENT G 6.45 08/11/21 CNY 41.27
WUWEI CITY ECONOMY DEV 8.20 04/24/21 CNY 20.57
WUWEI CITY ECONOMY DEV 8.20 04/24/21 CNY 20.00
WUWEI CITY ECONOMY DEV 8.20 12/09/20 CNY 20.57
WUWEI CITY ECONOMY DEV 8.20 12/09/20 CNY 20.40
WUXI HUIKAI ECONOMIC D 4.16 04/08/23 CNY 60.70
WUXI HUIKAI ECONOMIC D 4.16 04/08/23 CNY 59.83
WUXI HUNING METRO HUIS 4.38 06/08/21 CNY 70.61
WUXI HUNING METRO HUIS 4.38 06/08/21 CNY 70.45
WUXI MUNICIPAL DEVELOP 6.10 10/11/20 CNY 20.32
WUXI MUNICIPAL DEVELOP 6.10 10/11/20 CNY 20.23
WUXI TAIHU NEW CITY DE 4.49 05/03/23 CNY 61.87
WUYANG CONSTRUCTION GR 7.80 09/11/20 CNY 32.48
WUZHONG URBAN RURAL CO 7.18 10/12/20 CNY 20.34
WUZHONG URBAN RURAL CO 7.18 10/12/20 CNY 20.33
XIAMEN TORCH GROUP CO 7.49 04/21/21 CNY 24.88
XIAMEN TORCH GROUP CO 7.49 04/21/21 CNY 20.63
XIAN FENGDONG DEVELOPM 4.67 01/08/23 CNY 60.52
XIAN FENGDONG DEVELOPM 4.67 01/08/23 CNY 60.23
XI'AN INTERNATIONAL HO 6.20 10/21/21 CNY 41.46
XI'AN INTERNATIONAL HO 6.20 10/21/21 CNY 40.70
XI'AN INTERNATIONAL IN 7.90 09/23/21 CNY 42.28
XIANGSHUI GUANJIANG HO 4.98 12/24/22 CNY 63.20
XIANGSHUI GUANJIANG HO 4.98 12/24/22 CNY 60.43
XIANGTAN CITY CONSTRUC 7.80 01/30/22 CNY 54.00
XIANGTAN HI-TECH GROUP 8.16 02/25/21 CNY 20.37
XIANGTAN JIUHUA ECONOM 5.00 07/25/26 CNY 74.39
XIANGTAN JIUHUA ECONOM 6.59 01/21/22 CNY 38.33
XIANGTAN JIUHUA ECONOM 7.15 10/15/20 CNY 19.86
XIANGTAN JIUHUA ECONOM 7.15 10/15/20 CNY 19.67
XIANGTAN LIANGXING SOC 7.89 04/23/21 CNY 20.40
XIANGTAN WANLOU XINCHE 6.90 01/14/22 CNY 40.12
XIANGTAN WANLOU XINCHE 6.90 01/14/22 CNY 35.49
XIANGTAN ZHENXIANG STA 6.60 08/07/20 CNY 20.06
XIANGTAN ZHENXIANG STA 6.60 08/07/20 CNY 20.00
XIANGYANG CITY XIANGZH 5.18 04/28/23 CNY 61.87
XIANGYANG CITY XIANGZH 5.18 04/28/23 CNY 61.57
XIANGYANG HIGH TECH ST 7.00 05/29/21 CNY 43.38
XIANGYANG HIGH TECH ST 7.00 05/29/21 CNY 40.79
XIANGYANG STATE-OWNED 4.62 01/25/23 CNY 61.02
XIANGYANG STATE-OWNED 4.62 01/25/23 CNY 60.59
XIANNING HIGH-TECH INV 6.29 02/10/22 CNY 45.00
XIANNING HIGH-TECH INV 6.29 02/10/22 CNY 41.05
XIANNING HIGH-TECH INV 5.80 06/05/20 CNY 20.24
XIANNING HIGH-TECH INV 5.80 06/05/20 CNY 20.04
XIANTAO CITY CONSTRUCT 4.59 04/18/23 CNY 61.22
XIANTAO CITY CONSTRUCT 4.59 04/18/23 CNY 61.06
XIANTAO CITY CONSTRUCT 8.15 02/24/21 CNY 20.83
XIANTAO CITY CONSTRUCT 8.15 02/24/21 CNY 20.50
XIAOGAN GAOCHUANG INVE 6.87 09/22/21 CNY 46.69
XIAOGAN GAOCHUANG INVE 6.87 09/22/21 CNY 41.17
XIAOGAN GAOCHUANG INVE 7.43 06/23/21 CNY 52.72
XIAOGAN GAOCHUANG INVE 7.43 06/23/21 CNY 40.94
XIAOGAN URBAN CONSTRUC 6.89 05/29/21 CNY 40.97
XINDONGGANG HOLDING GR 5.53 04/27/23 CNY 61.15
XINDONGGANG HOLDING GR 5.53 04/27/23 CNY 60.81
XINGAN LEAGUE URBAN DE 6.18 12/21/22 CNY 43.37
XINGAN LEAGUE URBAN DE 6.18 12/21/22 CNY 43.37
XINGHUA URBAN CONSTRUC 7.36 07/15/20 CNY 25.14
XINGHUA URBAN CONSTRUC 7.36 07/15/20 CNY 25.00
XINGYI XINHENG URBAN C 5.40 12/16/22 CNY 60.00
XINGYI XINHENG URBAN C 5.40 12/16/22 CNY 59.27
XINING ECONOMIC DEVELO 5.90 06/04/20 CNY 20.04
XINING ECONOMIC DEVELO 5.90 06/04/20 CNY 20.00
XINJIANG HUIFENG URBAN 3.60 03/16/23 CNY 60.57
XINJIANG HUIFENG URBAN 3.60 03/16/23 CNY 60.49
XINJIANG KAIDI INVESTM 7.80 04/22/21 CNY 21.35
XINJIANG KAIDI INVESTM 7.80 04/22/21 CNY 20.38
XINJIANG RUNSHENG INVE 7.15 07/10/20 CNY 25.38
XINJIANG RUNSHENG INVE 7.15 07/10/20 CNY 25.11
XINMI CAIYUAN CITY CON 4.35 02/28/23 CNY 60.77
XINMI CAIYUAN CITY CON 4.35 02/28/23 CNY 60.70
XINTAI CITY COORDINATI 6.35 03/23/22 CNY 41.34
XINTAI CITY COORDINATI 6.35 03/23/22 CNY 40.75
XINYANG HONGCHANG PIPE 6.49 06/20/20 CNY 72.87
XINYANG HUAXIN INVESTM 7.55 04/15/21 CNY 26.30
XINYANG HUAXIN INVESTM 7.55 04/15/21 CNY 20.79
XINYI CITY INVESTMENT 4.30 01/19/23 CNY 60.54
XINYI CITY INVESTMENT 4.30 01/19/23 CNY 60.00
XINYI CITY INVESTMENT 7.39 10/15/20 CNY 20.45
XINYI CITY INVESTMENT 7.39 10/15/20 CNY 20.40
XINYI URBAN TRANSPORTA 6.14 02/06/22 CNY 41.53
XINYI URBAN TRANSPORTA 6.14 02/06/22 CNY 41.50
XINYU CHENGDONG CONSTR 8.48 05/27/21 CNY 47.00
XINYU CHENGDONG CONSTR 8.48 05/27/21 CNY 40.79
XINYU CITY SHANTYTOWN 6.42 12/09/20 CNY 40.43
XINYU CITY YUSHUI DIST 7.70 06/24/22 CNY 61.70
XINYU CITY YUSHUI DIST 7.70 06/24/22 CNY 61.39
XINZHENG NEW DISTRICT 5.40 03/29/21 CNY 33.71
XINZHENG NEW DISTRICT 6.40 01/29/21 CNY 25.58
XINZHOU ASSET MANAGEME 7.90 02/21/21 CNY 21.07
XINZHOU ASSET MANAGEME 7.90 02/21/21 CNY 20.68
XINZHOU ASSET MANAGEME 8.50 12/18/20 CNY 20.68
XINZHOU ASSET MANAGEME 8.50 12/18/20 CNY 20.00
XIUSHAN INDUSTRY DEVEL 5.85 04/14/23 CNY 61.13
XIUSHAN INDUSTRY DEVEL 5.85 04/14/23 CNY 60.50
XIWANG GROUP CO LTD 7.80 12/03/22 CNY 49.94
XUANCHENG CITY ECONOMY 7.95 09/22/21 CNY 46.00
XUANCHENG CITY ECONOMY 7.95 09/22/21 CNY 41.39
XUANCHENG STATE-OWNED 4.12 04/07/23 CNY 61.26
XUANCHENG STATE-OWNED 4.12 04/07/23 CNY 61.19
XUANCHENG STATE-OWNED 7.95 03/27/21 CNY 26.00
XUANCHENG STATE-OWNED 7.95 03/27/21 CNY 20.90
XUZHOU BOCHANT DEVELOP 5.69 07/28/21 CNY 66.62
XUZHOU CITY JIAWANG CO 4.00 03/23/23 CNY 60.63
XUZHOU CITY JIAWANG CO 4.00 03/23/23 CNY 60.30
XUZHOU CITY TONGSHAN D 5.23 09/18/22 CNY 61.53
XUZHOU CITY TONGSHAN D 5.23 09/18/22 CNY 60.00
XUZHOU CITY TONGSHAN D 6.60 08/08/20 CNY 20.66
XUZHOU CITY TONGSHAN D 6.60 08/08/20 CNY 20.19
XUZHOU ECONOMIC TECHNO 7.35 04/21/21 CNY 20.92
XUZHOU HI-TECH INDUSTR 7.86 04/22/21 CNY 31.50
XUZHOU HI-TECH INDUSTR 7.86 04/22/21 CNY 20.75
XUZHOU TRANSPORTATION 7.09 05/15/21 CNY 41.00
XUZHOU TRANSPORTATION 7.09 05/15/21 CNY 40.88
XUZHOU XINSHENG INVEST 5.13 08/12/22 CNY 64.46
XUZHOU XINSHENG INVEST 5.13 08/12/22 CNY 62.10
YA'AN DEVELOPMENT INVE 7.00 09/13/20 CNY 20.21
YA'AN DEVELOPMENT INVE 7.00 09/13/20 CNY 20.20
YANCHENG CITY TINGHU D 7.95 11/15/20 CNY 20.36
YANCHENG CITY TINGHU D 7.95 11/15/20 CNY 18.30
YANCHENG DAFENG DISTRI 8.70 01/24/21 CNY 20.97
YANCHENG DAFENG DISTRI 8.70 01/24/21 CNY 20.71
YANCHENG DAFENG DISTRI 8.50 12/30/20 CNY 20.62
YANCHENG DAFENG DISTRI 8.50 12/30/20 CNY 20.60
YANCHENG HIGH-TECH ZON 3.90 12/14/22 CNY 60.80
YANCHENG HIGH-TECH ZON 3.90 12/14/22 CNY 60.40
YANCHENG ORIENTAL INVE 6.48 09/15/21 CNY 41.07
YANCHENG ORIENTAL INVE 6.48 09/15/21 CNY 40.55
YANCHENG SOUTH DISTRIC 6.70 07/30/21 CNY 41.29
YANCHENG YANDU DISTRIC 3.67 03/17/23 CNY 59.68
YANCHENG YANDU DISTRIC 3.67 03/17/23 CNY 58.56
YANGJIANG HENGCAI CITY 6.24 04/14/22 CNY 41.86
YANGJIANG HENGCAI CITY 6.24 04/14/22 CNY 40.00
YANGJIANG HENGCAI CITY 6.85 09/09/20 CNY 20.22
YANGZHONG TRANSPORTATI 4.98 04/07/23 CNY 61.60
YANGZHONG TRANSPORTATI 4.95 04/07/23 CNY 61.55
YANGZHONG TRANSPORTATI 4.95 04/07/23 CNY 61.20
YANGZHONG TRANSPORTATI 4.98 04/07/23 CNY 60.99
YANGZHOU CHEMICAL INDU 8.58 01/24/21 CNY 26.00
YANGZHOU CHEMICAL INDU 8.58 01/24/21 CNY 20.50
YANGZHOU ECONOMIC & TE 7.40 03/05/21 CNY 41.51
YANGZHOU ECONOMIC & TE 7.40 03/05/21 CNY 40.00
YANGZHOU HANJIANG CONS 5.88 06/15/22 CNY 66.63
YANGZHOU HANJIANG CONS 5.88 06/15/22 CNY 61.78
YANGZHOU JIANGDU YANJI 7.48 07/29/20 CNY 25.24
YANGZHOU JIANGDU YANJI 7.48 07/29/20 CNY 25.22
YI CHENG CONSTRUCTION 5.44 04/27/23 CNY 60.49
YI ZHENG CITY DEVELOPM 4.63 01/08/23 CNY 60.82
YI ZHENG CITY DEVELOPM 4.63 01/08/23 CNY 60.00
YI ZHENG CITY DEVELOPM 8.60 01/09/21 CNY 29.30
YI ZHENG CITY DEVELOPM 8.60 01/09/21 CNY 20.61
YICHANG HIGH-TECH INVE 4.80 12/15/22 CNY 61.77
YICHANG HIGH-TECH INVE 4.80 12/15/22 CNY 60.00
YICHUN URBAN CONSTRUCT 7.09 05/15/21 CNY 43.47
YICHUN URBAN CONSTRUCT 7.09 05/15/21 CNY 40.79
YICHUN VENTURE CAPITAL 6.70 03/23/22 CNY 40.76
YICHUN VENTURE CAPITAL 6.70 03/23/22 CNY 40.61
YIHUA ENTERPRISE GROUP 6.50 05/02/22 CNY 72.33
YIHUA ENTERPRISE GROUP 7.00 04/29/22 CNY 54.00
YIHUA ENTERPRISE GROUP 6.80 03/15/21 CNY 47.99
YIHUA ENTERPRISE GROUP 5.99 11/26/20 CNY 30.00
YIHUA LIFESTYLE TECHNO 6.88 07/23/20 CNY 35.00
YIHUA LIFESTYLE TECHNO 6.88 07/16/20 CNY 35.90
YILI KAZAKH AUTONOMOUS 7.68 02/28/21 CNY 20.84
YINCHUAN URBAN CONSTRU 6.88 05/12/21 CNY 40.90
YINGKOU COASTAL DEVELO 6.45 01/26/22 CNY 40.29
YINGKOU COASTAL DEVELO 6.45 01/26/22 CNY 39.68
YINGKOU LAOBIAN CITY C 4.98 03/11/23 CNY 60.00
YINGKOU LAOBIAN CITY C 4.98 03/11/23 CNY 59.42
YINGKOU LAOBIAN CITY C 5.63 12/16/22 CNY 60.00
YINGKOU LAOBIAN CITY C 5.63 12/16/22 CNY 59.96
YINGTAN INVESTMENT CO 7.50 12/12/22 CNY 47.66
YINGTAN INVESTMENT CO 7.50 12/12/22 CNY 47.64
YINGTAN INVESTMENT CO 3.63 08/12/21 CNY 70.36
YINGTAN LONGGANG ASSET 6.75 07/31/22 CNY 61.18
YINGTAN LONGGANG ASSET 6.75 07/31/22 CNY 60.63
YINING CITY STATE OWNE 5.37 09/24/22 CNY 61.40
YINING CITY STATE OWNE 5.37 09/24/22 CNY 60.19
YINING CITY STATE OWNE 8.90 01/23/21 CNY 29.95
YINING CITY STATE OWNE 8.90 01/23/21 CNY 20.73
YIWU CITY CONSTRUCTION 4.31 12/07/22 CNY 61.18
YIWU CITY CONSTRUCTION 4.31 12/07/22 CNY 60.40
YIWU URBAN & RURAL NEW 4.25 11/24/21 CNY 50.41
YIXING CITY CONSTRUCTI 6.16 03/30/22 CNY 41.95
YIXING CITY CONSTRUCTI 6.16 03/30/22 CNY 40.00
YIXING TUOYE INDUSTRIA 7.60 05/28/21 CNY 43.50
YIXING TUOYE INDUSTRIA 7.60 05/28/21 CNY 40.81
YIYANG ADVANCED INDUST 7.00 03/30/22 CNY 48.00
YIYANG ADVANCED INDUST 7.00 03/30/22 CNY 41.19
YONG ZHOU CITY CONSTRU 7.30 10/23/20 CNY 20.40
YONGJIA INVESTMENT GRO 6.50 11/12/21 CNY 41.18
YONGJIA INVESTMENT GRO 6.50 11/12/21 CNY 40.00
YONGXING YINDU CONSTRU 5.60 03/24/23 CNY 60.82
YONGXING YINDU CONSTRU 5.60 03/24/23 CNY 60.06
YONGZHOU ECONOMIC CONS 3.55 01/14/23 CNY 59.63
YONGZHOU ECONOMIC CONS 3.55 01/14/23 CNY 59.20
YUEYANG CITY DONGTING 6.15 03/20/22 CNY 40.95
YUEYANG CITY DONGTING 6.15 03/20/22 CNY 40.73
YUEYANG HUILIN INVESTM 5.50 11/03/21 CNY 40.29
YUEYANG HUILIN INVESTM 5.50 11/03/21 CNY 40.00
YUEYANG URBAN CONSTRUC 6.05 07/12/20 CNY 20.11
YUHUAN CITY COMMUNICAT 6.18 03/20/22 CNY 44.47
YUHUAN CITY COMMUNICAT 6.18 03/20/22 CNY 41.59
YUHUAN CITY COMMUNICAT 5.65 11/03/21 CNY 44.50
YUHUAN CITY COMMUNICAT 5.65 11/03/21 CNY 40.93
YUHUAN CITY CONSTRUCTI 5.10 05/03/23 CNY 62.10
YUNNAN METROPOLITAN CO 6.77 05/23/21 CNY 40.32
YUYAO CITY CONSTRUCTIO 7.09 05/19/21 CNY 41.02
YUZHOU GENERAL INVESTM 4.68 01/19/23 CNY 60.65
YUZHOU GENERAL INVESTM 4.68 01/19/23 CNY 60.00
ZAOYANG CITY CONSTRUCT 5.50 03/22/23 CNY 62.02
ZAOYANG CITY CONSTRUCT 5.50 03/22/23 CNY 60.55
ZHANGJIAGANG FREE TRAD 7.10 08/23/20 CNY 26.04
ZHANGJIAGANG FREE TRAD 7.10 08/23/20 CNY 20.14
ZHANGJIAGANG JINCHENG 6.88 04/28/21 CNY 40.90
ZHANGJIAJIE ECONOMIC D 7.80 04/17/21 CNY 20.74
ZHANGYE CITY INVESTMEN 6.92 09/22/21 CNY 40.90
ZHANGYE CITY INVESTMEN 6.92 09/22/21 CNY 40.89
ZHANGZHOU ECONOMIC DEV 6.17 04/27/22 CNY 41.22
ZHANGZHOU ECONOMIC DEV 6.17 04/27/22 CNY 40.00
ZHANGZHOU JIULONGJIANG 6.48 06/20/21 CNY 41.00
ZHANGZHOU JIULONGJIANG 6.48 06/20/21 CNY 40.89
ZHANJIANG INFRASTRUCTU 6.93 10/21/20 CNY 20.39
ZHAOQING GAOYAO DISTRI 6.68 04/14/22 CNY 41.56
ZHAOQING GAOYAO DISTRI 6.68 04/14/22 CNY 40.00
ZHEJIANG BINHAI NEW CI 4.65 12/23/22 CNY 61.44
ZHEJIANG BINHAI NEW CI 4.65 12/23/22 CNY 60.00
ZHEJIANG CHANGXING JIN 7.99 03/03/21 CNY 30.00
ZHEJIANG CHANGXING JIN 7.99 03/03/21 CNY 20.54
ZHEJIANG GUOXING INVES 6.94 08/01/21 CNY 48.50
ZHEJIANG GUOXING INVES 6.94 08/01/21 CNY 41.09
ZHEJIANG HUISHENG INVE 4.49 03/15/24 CNY 71.44
ZHEJIANG HUISHENG INVE 4.49 03/15/24 CNY 70.00
ZHEJIANG OUHAI CONSTRU 4.83 01/21/23 CNY 61.20
ZHEJIANG OUHAI CONSTRU 4.83 01/21/23 CNY 60.00
ZHEJIANG OUHAI CONSTRU 6.45 04/23/22 CNY 41.39
ZHEJIANG OUHAI CONSTRU 6.45 04/23/22 CNY 40.00
ZHEJIANG PROVINCE XINC 6.95 12/31/21 CNY 41.87
ZHEJIANG PROVINCE XINC 6.95 12/31/21 CNY 41.64
ZHEJIANG PROVINCE XINC 5.88 10/30/21 CNY 41.21
ZHEJIANG PROVINCE XINC 5.88 10/30/21 CNY 41.06
ZHENGZHOU JINGKAI INVE 5.48 07/31/22 CNY 61.80
ZHENGZHOU JINGKAI INVE 5.48 07/31/22 CNY 60.00
ZHENGZHOU MOUZHONG DEV 4.59 04/18/23 CNY 61.50
ZHENGZHOU MOUZHONG DEV 4.59 04/18/23 CNY 61.18
ZHENGZHOU MOUZHONG DEV 7.48 12/11/21 CNY 46.20
ZHENGZHOU MOUZHONG DEV 7.48 12/11/21 CNY 41.41
ZHENGZHOU PUBLIC HOUSI 5.98 07/17/20 CNY 20.15
ZHENGZHOU PUBLIC HOUSI 5.98 07/17/20 CNY 20.12
ZHENJIANG CITY CONSTRU 8.20 01/13/21 CNY 28.49
ZHENJIANG CITY CONSTRU 8.20 01/13/21 CNY 20.67
ZHENJIANG CITY CONSTRU 7.90 12/18/20 CNY 28.50
ZHENJIANG CITY CONSTRU 7.90 12/18/20 CNY 20.55
ZHENJIANG DANTU DISTRI 5.89 11/03/21 CNY 40.17
ZHENJIANG DANTU DISTRI 5.89 11/03/21 CNY 39.60
ZHENJIANG NEW AREA URB 8.35 02/26/21 CNY 20.59
ZHENJIANG NEW AREA URB 8.99 01/16/21 CNY 20.51
ZHIJIANG STATE-OWNED A 4.38 03/28/23 CNY 64.70
ZHIJIANG STATE-OWNED A 4.38 03/28/23 CNY 60.52
ZHIJIANG STATE-OWNED A 4.78 01/11/23 CNY 60.45
ZHIJIANG STATE-OWNED A 4.78 01/11/23 CNY 60.00
ZHONGGUANCUN DEVELOPME 4.20 08/12/22 CNY 60.69
ZHONGGUANCUN DEVELOPME 4.20 08/12/22 CNY 60.65
ZHONGMINTOU LEASING HO 7.55 09/21/21 CNY 49.49
ZHONGRONG XINDA GROUP 7.10 01/22/21 CNY 33.70
ZHONGSHAN TRANSPORTATI 5.25 11/26/21 CNY 41.01
ZHONGSHAN TRANSPORTATI 5.25 11/26/21 CNY 40.00
ZHONGTIAN FINANCIAL GR 7.00 10/15/20 CNY 15.00
ZHOUKOU INVESTMENT GRO 7.49 04/21/21 CNY 20.53
ZHOUSHAN DINGHAI STATE 7.13 08/04/21 CNY 41.40
ZHOUSHAN DINGHAI STATE 7.13 08/04/21 CNY 41.18
ZHOUSHAN DINGHAI STATE 7.25 08/31/20 CNY 26.65
ZHOUSHAN DINGHAI STATE 7.25 08/31/20 CNY 25.38
ZHOUSHAN ISLANDS NEW D 6.98 10/22/22 CNY 57.19
ZHOUSHAN ISLANDS NEW D 6.98 10/22/22 CNY 56.54
ZHOUSHAN PUTUO DISTRIC 7.18 06/20/22 CNY 57.44
ZHOUSHAN PUTUO DISTRIC 7.18 06/20/22 CNY 56.90
ZHUHAI HUIHUA INFRASTR 7.15 09/17/20 CNY 21.15
ZHUHAI HUIHUA INFRASTR 7.15 09/17/20 CNY 20.31
ZHUJI CITY YUEDU INVES 6.38 04/07/22 CNY 41.80
ZHUJI CITY YUEDU INVES 6.38 04/07/22 CNY 41.77
ZHUJI CITY YUEDU INVES 8.20 12/12/20 CNY 24.50
ZHUJI CITY YUEDU INVES 8.20 12/12/20 CNY 20.61
ZHUZHOU CITY CONSTRUCT 8.36 11/10/21 CNY 43.75
ZHUZHOU CITY CONSTRUCT 6.95 10/16/20 CNY 20.30
ZHUZHOU CITY CONSTRUCT 6.95 10/16/20 CNY 20.26
ZHUZHOU GECKOR GROUP C 6.38 04/17/22 CNY 41.54
ZHUZHOU GECKOR GROUP C 6.38 04/17/22 CNY 40.00
ZHUZHOU GECKOR GROUP C 6.95 08/11/21 CNY 41.05
ZHUZHOU GECKOR GROUP C 6.95 08/11/21 CNY 40.86
ZHUZHOU RECYCLING ECON 4.38 03/24/23 CNY 57.37
ZHUZHOU RECYCLING ECON 4.38 03/24/23 CNY 56.83
ZHUZHOU XIANGJIANG SCE 5.39 11/25/22 CNY 61.23
ZHUZHOU XIANGJIANG SCE 5.39 11/25/22 CNY 60.95
ZIBO BANYANG CITY URBA 5.50 09/09/22 CNY 60.67
ZIBO BANYANG CITY URBA 5.50 09/09/22 CNY 60.00
ZIYANG WATER INVESTMEN 3.97 03/17/23 CNY 60.11
ZIYANG WATER INVESTMEN 3.97 03/17/23 CNY 59.77
ZIYANG WATER INVESTMEN 7.40 10/21/20 CNY 20.34
ZIYANG WATER INVESTMEN 7.40 10/21/20 CNY 20.00
ZIZHONG COUNTY XINGZI 5.97 01/18/23 CNY 60.92
ZIZHONG COUNTY XINGZI 5.97 01/18/23 CNY 59.68
ZJ HZ QINGSHAN LAKE SC 7.90 04/23/21 CNY 24.00
ZJ HZ QINGSHAN LAKE SC 7.90 04/23/21 CNY 20.88
ZUNYI ECONOMIC DEVELOP 4.87 01/22/23 CNY 60.00
ZUNYI ECONOMIC DEVELOP 4.87 01/22/23 CNY 58.58
ZUNYI NEW DISTRICT DEV 5.99 04/07/26 CNY 70.61
ZUNYI NEW DISTRICT DEV 5.99 04/07/26 CNY 69.69
ZUNYI ROAD & BRIDGE CO 6.10 04/27/23 CNY 57.96
ZUNYI ROAD & BRIDGE CO 6.10 04/27/23 CNY 53.80
INDONESIA
---------
ABM INVESTAMA TBK PT 7.13 08/01/22 USD 54.27
ABM INVESTAMA TBK PT 7.13 08/01/22 USD 52.34
BERAU COAL ENERGY TBK 7.25 03/13/17 USD 40.00
BERAU COAL ENERGY TBK 7.25 03/13/17 USD 40.00
DAVOMAS INTERNATIONAL 11.00 12/08/14 USD 0.11
DAVOMAS INTERNATIONAL 11.00 12/08/14 USD 0.11
DAVOMAS INTERNATIONAL 11.00 05/09/11 USD 0.11
DAVOMAS INTERNATIONAL 11.00 05/09/11 USD 0.11
DELTA MERLIN DUNIA TEK 8.63 03/12/24 USD 9.91
DELTA MERLIN DUNIA TEK 8.63 03/12/24 USD 9.72
INDIA
-----
3I INFOTECH LTD 2.50 03/31/25 USD 4.27
ACME FAZILKA POWER PVT 0.01 09/07/46 INR 17.14
AMPSOLAR SOLUTION PVT 0.01 11/03/37 INR 25.22
AMPSOLAR SOLUTION PVT 0.01 10/27/37 INR 25.26
APG HABITAT PVT LTD 1.00 09/09/28 INR 55.86
APG INTELLI HOMES PVT 1.25 02/04/35 INR 42.13
APG INTELLI HOMES PVT 1.25 02/04/35 INR 39.77
AUTOMOTIVE EXCHANGE PV 4.00 10/11/30 INR 60.50
AUTOMOTIVE EXCHANGE PV 4.00 06/01/30 INR 60.53
BENGAL AEROTROPOLIS PR 5.00 12/01/30 INR 73.11
BENGAL AEROTROPOLIS PR 5.00 12/01/29 INR 74.57
BRITANNIA INDUSTRIES L 8.00 08/28/22 INR 30.27
BUKIT MAKMUR MANDIRI U 7.75 02/13/22 USD 66.70
BUKIT MAKMUR MANDIRI U 7.75 02/13/22 USD 64.32
CREIXENT SPECIAL STEEL 0.01 08/28/25 INR 62.35
CUMULUS TRADING CO PVT 0.01 05/21/32 INR 36.04
CUMULUS TRADING CO PVT 0.01 01/23/30 INR 58.24
DAYAKARA SOLAR POWER P 0.10 04/05/26 INR 60.32
DEWAN HOUSING FINANCE 8.50 04/18/23 INR 21.72
DLF CYBER CITY DEVELOP 0.01 11/19/24 INR 71.11
EDELWEISS ASSET RECONS 2.00 07/22/29 INR 59.85
EDELWEISS ASSET RECONS 2.00 01/15/29 INR 61.38
EDELWEISS ASSET RECONS 2.00 10/07/28 INR 62.23
EDELWEISS ASSET RECONS 2.00 11/20/27 INR 65.18
EDELWEISS ASSET RECONS 2.00 03/28/27 INR 67.22
FUTURE RETAIL LTD 5.60 01/22/25 USD 27.41
FUTURE RETAIL LTD 5.60 01/22/25 USD 25.93
GAJAH TUNGGAL TBK PT 8.38 08/10/22 USD 65.32
GREEN URJA PVT LTD 0.01 02/14/30 INR 44.65
GTL INFRASTRUCTURE LTD 6.73 10/26/22 USD 4.00
HINDUSTAN CONSTRUCTION 0.01 01/05/27 INR 56.25
HITODI INFRASTRUCTURE 0.01 06/30/27 INR 52.78
INDIA INFOLINE FINANCE 5.88 04/20/23 USD 63.35
INDIABULLS HOUSING FIN 6.38 05/28/22 USD 57.75
JAIPRAKASH ASSOCIATES 5.75 09/08/17 USD 55.13
JAIPRAKASH POWER VENTU 7.00 05/15/17 USD 3.22
JCT LTD 2.50 04/08/11 USD 25.75
JSM CORP PVT LTD 0.01 08/31/36 INR 26.85
JTPM ATSALI LTD 0.01 08/29/48 INR 13.57
KANAKADURGA FINANCE LT 0.01 04/15/36 INR 25.47
KVK ENERGY & INFRASTRU 0.01 01/25/24 INR 72.73
MARIS POWER SUPPLY CO 2.00 04/18/28 INR 63.44
MYTRAH AADHYA POWER PV 0.01 07/05/35 INR 29.74
MYTRAH ADVAITH POWER P 0.01 07/13/36 INR 27.63
MYTRAH AKSHAYA ENERGY 0.01 07/13/36 INR 27.63
ORIGAMI CELLULO PVT LT 0.01 11/14/36 INR 26.57
PRAKASH INDUSTRIES LTD 5.25 04/30/15 USD 22.63
PUNJAB INFRASTRUCTURE 0.40 10/15/33 INR 42.29
PUNJAB INFRASTRUCTURE 0.40 10/15/32 INR 45.06
PUNJAB INFRASTRUCTURE 0.40 10/15/31 INR 48.08
PUNJAB INFRASTRUCTURE 0.40 10/15/30 INR 51.38
PUNJAB INFRASTRUCTURE 0.40 10/15/29 INR 55.01
PUNJAB INFRASTRUCTURE 0.40 10/15/28 INR 58.99
PUNJAB INFRASTRUCTURE 0.40 10/15/27 INR 63.34
PUNJAB INFRASTRUCTURE 0.40 10/15/26 INR 68.04
PUNJAB INFRASTRUCTURE 0.40 10/15/25 INR 73.08
PYRAMID SAIMIRA THEATR 1.75 07/04/12 USD 0.26
R L FINE CHEM PVT LTD 0.10 08/19/36 INR 27.32
REDKITE CAPITAL PVT LT 2.50 03/30/29 INR 63.50
REDKITE CAPITAL PVT LT 2.50 01/15/28 INR 66.88
REI AGRO LTD 5.50 11/13/14 USD 0.58
REI AGRO LTD 5.50 11/13/14 USD 0.58
RELIANCE COMMUNICATION 6.50 11/06/20 USD 10.02
SHRIRAM TRANSPORT FINA 5.10 07/16/23 USD 75.01
SINTEX INDUSTRIES LTD 3.50 05/25/22 USD 48.56
SRI REJEKI ISMAN TBK P 7.25 01/16/25 USD 79.61
SURBHI INVESTMENTS & T 2.50 10/21/28 INR 64.48
SUZLON ENERGY LTD 5.75 07/16/19 USD 24.59
SUZLON ENERGY LTD 5.75 07/16/19 USD 24.59
SVOGL OIL GAS & ENERGY 5.00 08/17/15 USD 0.61
TN URJA PVT LTD 0.10 02/22/36 INR 30.39
VIDEOCON INDUSTRIES LT 2.80 12/31/20 USD 30.25
WATSUN INFRABUILD PVT 4.00 10/16/37 INR 57.42
WS T&D LTD 0.10 03/24/29 INR 48.22
ZYDUS FOUNDATION 0.10 03/25/25 INR 65.49
JAPAN
-----
AVANSTRATE INC 0.10 10/29/32 JPY 9.75
TKJP CORP 0.58 03/26/21 JPY 2.02
TKJP CORP 0.85 03/06/19 JPY 2.02
TKJP CORP 1.02 12/15/17 JPY 0.50
UNIZO HOLDINGS CO LTD 1.50 11/26/27 JPY 72.59
UNIZO HOLDINGS CO LTD 1.20 05/28/27 JPY 72.62
UNIZO HOLDINGS CO LTD 0.99 11/27/26 JPY 73.17
KOREA
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ECOMAISTER CO LTD 2.00 10/11/22 KRW 54.19
HEUNGKUK FIRE & MARINE 5.70 12/29/46 KRW 46.84
KIBO ABS SPECIALTY CO 5.00 02/28/22 KRW 70.28
KIBO ABS SPECIALTY CO 5.00 02/24/22 KRW 71.11
KIBO ABS SPECIALTY CO 5.00 08/28/21 KRW 71.87
KIBO ABS SPECIALTY CO 5.00 02/26/21 KRW 62.77
KIBO ABS SPECIALTY CO 5.00 09/11/20 KRW 74.10
LOTTE CARD CO LTD 0.54 06/28/49 KRW 41.60
PAPERCOREA INC 1.00 01/21/21 KRW 0.08
POSCO ENERGY CO LTD 5.21 08/29/43 KRW 63.06
SAMPYO CEMENT CO LTD 8.10 06/26/15 KRW 70.00
SAMPYO CEMENT CO LTD 8.10 04/12/15 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 8.30 04/20/14 KRW 70.00
SILLAJEN INC 1.00 03/21/24 KRW 54.17
SINBO SECURITIZATION S 5.00 07/24/23 KRW 68.84
SINBO SECURITIZATION S 5.00 06/27/23 KRW 68.98
SINBO SECURITIZATION S 5.00 03/20/23 KRW 70.50
SINBO SECURITIZATION S 5.00 02/28/23 KRW 70.64
SINBO SECURITIZATION S 5.00 01/25/23 KRW 67.93
SINBO SECURITIZATION S 5.00 09/28/22 KRW 72.60
SINBO SECURITIZATION S 5.00 08/31/22 KRW 68.02
SINBO SECURITIZATION S 5.00 07/26/22 KRW 66.96
SINBO SECURITIZATION S 5.00 07/24/22 KRW 66.97
SINBO SECURITIZATION S 5.00 06/29/22 KRW 72.50
SINBO SECURITIZATION S 5.00 06/27/22 KRW 67.02
SINBO SECURITIZATION S 5.00 02/28/22 KRW 70.28
SINBO SECURITIZATION S 5.00 02/23/22 KRW 66.68
SINBO SECURITIZATION S 5.00 01/26/22 KRW 65.79
SINBO SECURITIZATION S 5.00 01/25/22 KRW 65.80
SINBO SECURITIZATION S 5.00 12/27/21 KRW 70.97
SINBO SECURITIZATION S 5.00 09/27/21 KRW 74.64
SINBO SECURITIZATION S 5.00 08/31/21 KRW 65.75
SINBO SECURITIZATION S 5.00 08/25/21 KRW 74.89
SINBO SECURITIZATION S 5.00 07/26/21 KRW 64.50
SINBO SECURITIZATION S 5.00 06/29/21 KRW 72.07
SINBO SECURITIZATION S 5.00 03/21/21 KRW 62.11
SINBO SECURITIZATION S 5.00 12/21/20 KRW 62.94
SINBO SECURITIZATION S 5.00 06/23/20 KRW 74.57
MALAYSIA
--------
AEON CREDIT SERVICE M 3.50 09/15/20 MYR 0.79
ASIAN PAC HOLDINGS BHD 3.00 05/25/22 MYR 0.48
BERJAYA CORP BHD 2.00 05/29/26 MYR 0.16
BERJAYA CORP BHD 5.00 04/22/22 MYR 0.25
ELK-DESA RESOURCES BHD 3.25 04/14/22 MYR 0.82
HIAP TECK VENTURE BHD 5.00 06/23/21 MYR 0.16
HUME INDUSTRIES BHD 5.00 05/29/24 MYR 1.45
MALAYAN FLOUR MILLS BH 5.00 01/24/24 MYR 0.97
PMB TECHNOLOGY BHD 3.00 07/12/23 MYR 2.83
SENAI-DESARU EXPRESSWA 1.35 06/30/31 MYR 70.26
SENAI-DESARU EXPRESSWA 1.35 12/31/30 MYR 71.51
SENAI-DESARU EXPRESSWA 1.35 06/28/30 MYR 72.81
SENAI-DESARU EXPRESSWA 1.35 12/31/29 MYR 73.99
VIZIONE HOLDINGS BHD 3.00 08/08/21 MYR 0.02
NEW ZEALAND
-----------
PRECINCT PROPERTIES NE 4.80 09/27/21 NZD 1.04
SKY NETWORK TELEVISION 6.25 03/31/21 NZD 73.29
PHILIPPINES
-----------
BAYAN TELECOMMUNICATIO 15.00 07/15/06 USD 22.75
SINGAPORE
---------
ALAM SYNERGY PTE LTD 6.63 04/24/22 USD 44.92
APL REALTY HOLDINGS PT 5.95 06/02/24 USD 46.14
ASL MARINE HOLDINGS LT 3.00 10/01/26 SGD 51.38
ASL MARINE HOLDINGS LT 3.00 03/28/25 SGD 51.38
BAKRIE TELECOM PTE LTD 11.50 05/07/15 USD 0.82
BAKRIE TELECOM PTE LTD 11.50 05/07/15 USD 0.82
BERAU CAPITAL RESOURCE 12.50 07/08/15 USD 39.80
BERAU CAPITAL RESOURCE 12.50 07/08/15 USD 39.80
BLD INVESTMENTS PTE LT 8.63 03/23/15 USD 4.88
BLUE OCEAN RESOURCES P 8.00 12/31/21 USD 31.59
BLUE OCEAN RESOURCES P 8.00 12/31/21 USD 31.59
BLUE OCEAN RESOURCES P 8.00 12/31/21 USD 31.59
ENERCOAL RESOURCES PTE 9.25 08/05/14 USD 45.75
ETERNA CAPITAL PTE LTD 8.00 12/11/22 USD 32.06
EZION HOLDINGS LTD 0.25 11/20/27 SGD 67.22
EZRA HOLDINGS LTD 4.88 04/24/18 SGD 5.00
GEO COAL INTERNATIONAL 8.00 10/04/22 USD 61.94
GEO COAL INTERNATIONAL 8.00 10/04/22 USD 52.13
GOLDEN ENERGY & RESOUR 9.00 02/14/23 USD 74.27
GOLDEN LEGACY PTE LTD 6.88 03/27/24 USD 74.17
HYFLUX LTD 4.60 09/23/19 SGD 38.63
HYFLUX LTD 4.20 08/29/19 SGD 38.63
HYFLUX LTD 4.25 09/07/18 SGD 38.63
INDO INFRASTRUCTURE GR 2.00 07/30/10 USD 1.00
INNOVATE CAPITAL PTE L 6.00 12/11/24 USD 30.53
ITNL OFFSHORE PTE LTD 7.50 01/18/21 CNY 29.80
MEDCO BELL PTE LTD 6.38 01/30/27 USD 60.04
MEDCO BELL PTE LTD 6.38 01/30/27 USD 58.19
MEDCO OAK TREE PTE LTD 7.38 05/14/26 USD 61.70
MEDCO OAK TREE PTE LTD 7.38 05/14/26 USD 61.52
MEDCO PLATINUM ROAD PT 6.75 01/30/25 USD 63.34
MEDCO PLATINUM ROAD PT 6.75 01/30/25 USD 62.86
MICLYN EXPRESS OFFSHOR 8.75 11/25/18 USD 22.59
MODERNLAND OVERSEAS PT 6.95 04/13/24 USD 64.39
MULHACEN PTE LTD 6.50 08/01/23 EUR 38.42
MULHACEN PTE LTD 6.50 08/01/23 EUR 38.26
NT RIG HOLDCO PTE LTD 7.50 12/20/21 USD 59.87
ORO NEGRO DRILLING PTE 7.50 01/24/19 USD 14.69
PACIFIC RADIANCE LTD 4.30 03/31/20 SGD 10.00
RICKMERS MARITIME 8.45 05/15/17 SGD 5.00
SOECHI CAPITAL PTE LTD 8.38 01/31/23 USD 67.89
SOECHI CAPITAL PTE LTD 8.38 01/31/23 USD 67.56
SSMS PLANTATION HOLDIN 7.75 01/23/23 USD 59.36
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
THETA CAPITAL PTE LTD 6.75 10/31/26 USD 69.02
SRI LANKA
---------
SRI LANKA DEVELOPMENT 6.75 01/22/25 USD 55.62
SRI LANKA DEVELOPMENT 6.50 01/22/25 USD 54.95
SRI LANKA DEVELOPMENT 6.02 01/22/25 USD 53.67
SRI LANKA DEVELOPMENT 5.98 01/22/25 USD 53.51
SRI LANKA DEVELOPMENT 5.28 01/22/25 USD 50.49
SRI LANKA DEVELOPMENT 6.70 05/01/23 USD 59.93
SRI LANKA DEVELOPMENT 5.66 05/01/23 USD 57.94
SRI LANKA DEVELOPMENT 4.64 05/01/23 USD 56.43
SRI LANKA DEVELOPMENT 4.60 05/01/23 USD 56.36
SRI LANKA DEVELOPMENT 6.62 03/16/23 USD 60.36
SRI LANKA DEVELOPMENT 4.73 03/16/23 USD 56.35
SRI LANKA DEVELOPMENT 5.94 01/22/23 USD 59.93
SRI LANKA DEVELOPMENT 4.76 01/22/23 USD 57.79
SRI LANKA DEVELOPMENT 6.07 01/22/23 USD 57.48
SRI LANKA DEVELOPMENT 6.60 05/01/22 USD 66.58
SRI LANKA DEVELOPMENT 6.30 05/01/22 USD 66.15
SRI LANKA DEVELOPMENT 5.75 05/01/22 USD 65.38
SRI LANKA DEVELOPMENT 5.55 05/01/22 USD 65.09
SRI LANKA DEVELOPMENT 5.52 05/01/22 USD 65.05
SRI LANKA DEVELOPMENT 4.22 05/01/22 USD 63.58
SRI LANKA DEVELOPMENT 4.19 05/01/22 USD 63.53
SRI LANKA DEVELOPMENT 4.83 03/17/22 USD 64.94
SRI LANKA DEVELOPMENT 4.83 03/17/22 USD 64.94
SRI LANKA DEVELOPMENT 4.83 03/17/22 USD 64.93
SRI LANKA DEVELOPMENT 5.79 01/22/22 USD 68.19
SRI LANKA DEVELOPMENT 4.49 01/22/22 USD 66.62
SRI LANKA DEVELOPMENT 4.59 01/22/22 USD 66.45
SRI LANKA DEVELOPMENT 6.11 08/15/21 USD 74.11
SRI LANKA DEVELOPMENT 5.93 08/15/21 USD 73.89
SRI LANKA DEVELOPMENT 4.67 08/15/21 USD 72.69
SRI LANKA DEVELOPMENT 5.87 07/30/21 USD 74.46
SRI LANKA DEVELOPMENT 5.75 07/30/21 USD 74.35
SRI LANKA DEVELOPMENT 4.04 07/30/21 USD 72.79
SRI LANKA DEVELOPMENT 3.91 07/30/21 USD 72.66
SRI LANKA DEVELOPMENT 4.59 06/30/21 USD 74.72
SRI LANKA DEVELOPMENT 4.15 06/30/21 USD 74.33
SRI LANKA GOVERNMENT I 7.55 03/28/30 USD 55.71
SRI LANKA GOVERNMENT I 7.55 03/28/30 USD 55.66
SRI LANKA GOVERNMENT I 7.85 03/14/29 USD 56.03
SRI LANKA GOVERNMENT I 7.85 03/14/29 USD 55.89
SRI LANKA GOVERNMENT I 6.75 04/18/28 USD 55.79
SRI LANKA GOVERNMENT I 6.75 04/18/28 USD 55.63
SRI LANKA GOVERNMENT I 6.20 05/11/27 USD 55.81
SRI LANKA GOVERNMENT I 6.20 05/11/27 USD 55.61
SRI LANKA GOVERNMENT I 6.83 07/18/26 USD 56.44
SRI LANKA GOVERNMENT I 6.83 07/18/26 USD 56.32
SRI LANKA GOVERNMENT I 6.85 11/03/25 USD 56.67
SRI LANKA GOVERNMENT I 6.85 11/03/25 USD 56.49
SRI LANKA GOVERNMENT I 6.13 06/03/25 USD 56.88
SRI LANKA GOVERNMENT I 6.13 06/03/25 USD 56.75
SRI LANKA GOVERNMENT I 6.35 06/28/24 USD 59.08
SRI LANKA GOVERNMENT I 6.35 06/28/24 USD 57.93
SRI LANKA GOVERNMENT I 6.85 03/14/24 USD 58.85
SRI LANKA GOVERNMENT I 6.85 03/14/24 USD 57.80
SRI LANKA GOVERNMENT I 5.75 04/18/23 USD 58.03
SRI LANKA GOVERNMENT I 5.75 04/18/23 USD 57.88
SRI LANKA GOVERNMENT I 5.88 07/25/22 USD 60.78
SRI LANKA GOVERNMENT I 5.88 07/25/22 USD 60.66
SRI LANKA GOVERNMENT I 5.75 01/18/22 USD 62.31
SRI LANKA GOVERNMENT I 5.75 01/18/22 USD 62.25
SRI LANKA GOVERNMENT I 6.25 07/27/21 USD 70.24
SRI LANKA GOVERNMENT I 6.25 07/27/21 USD 69.99
SRILANKAN AIRLINES LTD 7.00 06/25/24 USD 66.74
THAILAND
--------
G STEEL PCL 3.00 10/04/15 USD 0.55
MDX PCL 4.75 09/17/03 USD 22.88
*********
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.
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