/raid1/www/Hosts/bankrupt/TCRAP_Public/200728.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, July 28, 2020, Vol. 23, No. 150

                           Headlines



A U S T R A L I A

AFFINITY ENERGY: Second Creditors' Meeting Set for Aug. 4
JIMATTY INVESTMENTS: First Creditors' Meeting Set for Aug. 24
LEPAK BATEMAN: First Creditors' Meeting Set for Aug. 4
METSTECH PTY: First Creditors' Meeting Set for Aug. 5
SEAFOLLY PTY: Set to Be Sold Back to Original Owners

TRAVELSIM AUSTRALIA: Second Creditors' Meeting Set for Aug. 4


H O N G   K O N G

CHONG HING: Moody's Rates USD Add'l Tier 1 Securities 'Ba2(hyb)'
CITIC RESOURCES: S&P Withdraws 'BB-' LT Issuer Credit Rating
GOLDIN FINANCIAL: CK Asset Makes First Step to Rescue Firm


I N D I A

AERON EXPORTS: CRISIL Keeps B- on INR15cr Debt in Not Cooperating
AKP PLASTICS PRIVATE: Insolvency Resolution Process Case Summary
AMUDHA ASEPTIC: CRISIL Lowers Ratings on INR10cr Loans to B+
ANANTNATH SILK: Ind-Ra Moves BB+ Issuer Rating to Non-Cooperating
APOGEE HEALTHCARE: Insolvency Resolution Process Case Summary

BELGIUM ALUMINIUM: CRISIL Keeps D Debt Ratings in Not Cooperating
BHANSALI & CO: CRISIL Lowers Rating on INR180cr Loan to B+
BHIMRAJ EXPORTS: CRISIL Lowers Rating on INR12cr Loan to B+
BRICK EAGLE: Insolvency Resolution Process Case Summary
DOLPHIN OFFSHORE: Insolvency Resolution Process Case Summary

EPHYSX TECHNOLOGIES: CRISIL Lowers Ratings on INR11cr Loans to D
FICOM ENGINEERING: CRISIL Lowers Rating on INR4cr Loan to B+
FRONTIER KNITTERS: Ind-Ra Gives BB- Issuer Rating, Outlook Stable
FUTURE RETAIL: Fitch Cuts LT IDR to 'C' on Missed Coupon
G. T. HOMES: CRISIL Keeps D on INR23cr Debt in Not Cooperating

GAJRA BEVEL: Insolvency Resolution Process Case Summary
GAJRAJ AUTOMOBILES: CRISIL Lowers Rating on INR4cr Loan to B+
GMR HYDERABAD: S&P Lowers ICR to 'BB-' on Slow Traffic Recovery
GOKUL GINNING: CRISIL Keeps B+ on INR6cr Debt in Not Cooperating
GOLCONDA TEXTILES: CRISIL Keeps D Debt Ratings in Not Cooperating

GOLD EN GLOW: CRISIL Assigns B+ Rating to INR10cr Proposed LT Loan
GOLHAR GINNING: CRISIL Keeps B- Debt Ratings in Not Cooperating
GRECCY KNIT: CRISIL Keeps D Debt Ratings in Not Cooperating
GREENKO ENERGY: Fitch Hikes LT IDR to BB, Outlook Stable
HEERA RICE: CRISIL Keeps B+ Debt Ratings in Not Cooperating

HELIOS AND MATHESON: CRISIL Keeps D Debt Ratings in Not Cooperating
HERO FINCORP: Moody's Cuts Issuer Ratings to Ba1, Outlook Neg.
J.M.D. CORP: CRISIL Keeps D Debt Ratings in Not Cooperating
J.M.D. LAXMI: CRISIL Keeps D Debt Ratings in Not Cooperating
KASIM COAL: CRISIL Keeps D Debt Ratings in Not Cooperating

KATARE COTTON: CRISIL Keeps D Debt Ratings in Not Cooperating
KUFRI FUN: CRISIL Keeps D on INR12cr Debt in Not Cooperating
LA VILLA CAFE: Insolvency Resolution Process Case Summary
MAKHWAN METAL: CRISIL Keeps D on INR20cr Debt in Not Cooperating
MARANGI PRIVATE: CRISIL Lowers Rating on INR4cr Loan to B+

MEENAKSHI AMMAL: CRISIL Lowers Rating on INR35cr Loan to B+
MOHANA COTTON: CRISIL Keeps D Debt Ratings in Not Cooperating
NIMIT STEELS: CRISIL Keeps D Debt Ratings in Not Cooperating
PARAMOUNT BLANKETS: CRISIL Keeps D Debt Ratings in Not Cooperating
POWER WELFARE: CRISIL Keeps D on INR30cr Debt in Not Cooperating

PROCESS CONSTRUCTION: CRISIL Keeps D Debt Ratings in NonCooperating
RAJ GEMS: CRISIL Keeps D Debt Ratings in Not Cooperating
RBA FINANCE: Ind-Ra Keeps BB- Bank Loan Rating in Non-Cooperating
SAI CONSTRUCTION: CRISIL Lowers Rating on INR100cr Loan to B+
SAINATHA RICE: CRISIL Lowers Ratings on INR10cr Loans to D

SOUTH EAST U.P.: Insolvency Resolution Process Case Summary
SUN ALTERNATE: Insolvency Resolution Process Case Summary
T R SAWHNEY: CRISIL Lowers Rating on INR70cr Loan to B+


M A L A Y S I A

1MDB: Goldman Sachs Reaches $3.9BB Settlement with Malaysia
COMINTEL CORP: White Knight to Inject Railway Infra Business


S I N G A P O R E

HIN LEONG: Lim Family Seeks to Stop Law Firm From Taking Court Role
HYFLUX LTD: Middle East Suitor Submits Binding Offer


S O U T H   K O R E A

ASIANA AIRLINES: HDC Appears to be on Path to Scrap Asiana Deal


X X X X X X X X

BOND PRICING: For the Week July 20 to July 24, 2020

                           - - - - -


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

AFFINITY ENERGY: Second Creditors' Meeting Set for Aug. 4
---------------------------------------------------------
A second meeting of creditors in the proceedings of Affinity Energy
and Health Ltd has been set for Aug. 4, 2020, at 11:00 a.m. at the
offices of Pitcher Partners, Level 11, at 12-14 The Esplanade, in
Perth, WA.   

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 Aug. 3, 2020, at 4:00 p.m.

Daniel Johannes Bredenkamp and Bryan Kevin Hughes of Pitcher
Partners were appointed as administrators of Affinity Energy on
July 1, 2020.


JIMATTY INVESTMENTS: First Creditors' Meeting Set for Aug. 24
-------------------------------------------------------------
A first meeting of the creditors in the proceedings of:

   -- Jimatty Investments Pty Ltd (trading as Bags to Go Group,
      Bags to Go Factory Outlet & Travelite Travelgoods)
   
   -- Taslina Holdings Pty Ltd (trading as Bags to Go, Bags to Go
      Factory Outlet, Travelite, Travelite Retail & Trend Bags)

   -- P & J Keogh Pty Ltd

will be held on Aug. 4, 2020, at 9:00 a.m. via electronics.

Michael Slaven of Slaven Torline was appointed as administrator of
Jimatty Investments on July 24, 2020.


LEPAK BATEMAN: First Creditors' Meeting Set for Aug. 4
------------------------------------------------------
A first meeting of the creditors in the proceedings of Lepak
Bateman Pty Ltd will be held on Aug. 4, 2020, at 11:00 a.m. at the
offices of Auxilium Partners, Level 2, at 949 Wellington Street, in
West Perth, WA.

Robert Allan Jacobs of  Auxilium Partners was appointed as
administrator of Lepak Bateman on
July 24, 2020.


METSTECH PTY: First Creditors' Meeting Set for Aug. 5
-----------------------------------------------------
A first meeting of the creditors in the proceedings of Metstech Pty
Limited will be held on Aug. 5, 2020, at 11:00 a.m. via telephone
conference.

Stephen Wesley Hathway of Helm Advisory was appointed as
administrator of Metstech Pty on July 24, 2020.


SEAFOLLY PTY: Set to Be Sold Back to Original Owners
----------------------------------------------------
Dominic Powell at The Sydney Morning Herald reports that collapsed
swimwear brand Seafolly is likely to be sold back to the same
owners that first placed the business into administration, despite
the retailer receiving more than 80 bids from other interested
buyers.

According to SMH, administrators Scott Langdon and Rahul Goyal from
KordaMentha announced on July 27 they had chosen private equity
firm L Catterton as the preferred bidder for the assets of Seafolly
due to its offer providing the best return for the company's
creditors.

"I was overwhelmed by the level of interest and competition to own
one of Australia's most recognisable brands," the report quotes Mr.
Langdon as saying. "With an optimised retail, online and wholesale
network, Seafolly will continue to be the iconic Australian
beachwear brand that customers know and love."

Seafolly was placed into administration in late June, with the
"crippling financial impact" of COVID-19 cited as the reason for
the retailer's collapse. At the time, the company had 44 stores in
Australia under both the Seafolly and Sunburn brands, with $112
million in sales per year.

Fifteen Sunburn stores have been shut since, and 20 Seafolly stores
are set to remain open following the sale, with 110 employees
retaining their jobs.

Seafolly's owners L Catterton, an offshoot of consumer goods giant
Louis Vuitton Moet Hennessy (LVMH), also own popular boot brand MYR
Williams.

L Catterton is Seafolly's largest creditor and is owed about $27
million. However, as part of its proposed bid to re-acquire the
company, the firm will forgo any potential return to creditors in
order to increase the return to Seafolly's other creditors.

A proposed Deed of Company Arrangement (DOCA) will be voted on at
the next meeting of creditors on August 3.

According to the report, Mr. Langdon said KordaMentha received more
than 80 bids for the business from investors and other private
equity firms, 15 of which lodged formal expressions of interest.
Four final "high-quality" bidders were then selected for the final
phase of negotiations.

During the administration process, KordaMentha renegotiated ongoing
leases, reduced head office costs and also provided purchase orders
to some suppliers for a new range of stock through to March 2021.

All gift cards and rewards points will continue to be honoured.
"This is a terrific result after a very competitive process," the
report quotes Mr. Langdon as saying.

                          About Seafolly

On June 29, 2020, Scott Langdon and Rahul Goyal of KordaMentha
Restructuring were appointed Voluntary Administrators of the
Australian swimwear and women's beachwear fashion brand, Seafolly.
The appointment includes the entities relating to the Sunburn
business.

Seafolly has a retail network of 44 stores throughout Australia and
12 stores overseas.


TRAVELSIM AUSTRALIA: Second Creditors' Meeting Set for Aug. 4
-------------------------------------------------------------
A second meeting of creditors in the proceedings of Travelsim
Australia Pty Ltd has been set for Aug. 4, 2020, at 2:30 p.m. via
telephone conference facilities.  

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 Aug. 3, 2020, at 4:00 p.m.

Jason Walter Bettles of Worrells Solvency & Forensic Accountants
was appointed as administrator of Travelsim Australia on July 1,
2020.




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

CHONG HING: Moody's Rates USD Add'l Tier 1 Securities 'Ba2(hyb)'
----------------------------------------------------------------
Moody's Investors Service has assigned a Ba2(hyb) rating to Chong
Hing Bank Limited's proposed USD-denominated, perpetual,
non-cumulative and subordinated Additional Tier 1 securities with
point of non-viability loss absorption features to be drawn down
under the medium-term note program. Coupons may be cancelled in
full or in part on a non-cumulative basis at the issuer's
discretion or mandatorily in case the distributable reserves are
insufficient.

The rating is subject to the receipt of final documentation, the
terms and conditions of which are not expected to change in any
material way from the draft documents that Moody's has reviewed.

RATINGS RATIONALE

The AT1 securities rating reflects (1) Chong Hing Bank's Baseline
Credit Assessment and adjusted BCA of baa2; (2) Moody's Advanced
Loss Given Failure analysis; and (3) Moody's assumption of a low
probability of government support for loss-absorbing instruments,
resulting in no rating uplift.

Chong Hing Bank is subject to Hong Kong's Financial Institutions
(Resolution) Ordinance, and Moody's considers Hong Kong an
operational resolution regime.

Moody's assesses the probability of the failure of Chong Hing Bank
by taking into account potential affiliate support — as
represented by the bank's adjusted BCA of baa2 — as the starting
point for rating the bank's AT1 securities. Moody's then applies
its Advanced LGF analysis to determine the loss-given-failure.

Given the limited subordination in the form of preference shares
and residual equity, the Advanced LGF analysis indicates a high
loss-given-failure for the AT1 securities, resulting in a one-notch
downward adjustment from the bank's adjusted BCA. Moody's also
captures the risk of coupon suspension on a non-cumulative basis by
adding an additional two notches of downward adjustment from Chong
Hing Bank's adjusted BCA.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATING

The rating on the AT1 securities could be upgraded if Moody's
upgrades the bank's baa2 BCA and adjusted BCA.

Chong Hing Bank's baa2 BCA could be upgraded if the bank
consistently maintains good asset quality and satisfactory
capitalization, with tangible common equity/risk-weighted assets
above 13.5%, while improving its deposit market share.

Conversely, Moody's could downgrade the rating on the AT1
securities if Chong Hing Bank's baa2 BCA and adjusted BCA are
downgraded.

The bank's BCA could be downgraded if (1) operating conditions in
Hong Kong and mainland China deteriorate materially; (2) the bank's
asset quality deteriorates, with impaired loans exceeding 3% of
gross loans; (3) the bank's capital adequacy weakens, with tangible
common equity/risk-weighted assets falling below 10.5%; or (4) the
bank adopts a more aggressive risk-taking approach to grow its loan
book, particularly in mainland China.

PRINCIPAL METHODOLOGY

The principal methodology used in this rating was Banks Methodology
published in November 2019.

Headquartered in Hong Kong, Chong Hing Bank Limited reported total
assets of HKD213 billion at December 31, 2019.


CITIC RESOURCES: S&P Withdraws 'BB-' LT Issuer Credit Rating
------------------------------------------------------------
S&P Global Ratings said that it has withdrawn its 'BB-' long-term
issuer credit rating on CITIC Resources Holdings Ltd. (CITIC
Resources) at the company's request. The stable outlook at the time
of withdrawal reflects its view that CITIC Resources is a
strategically important subsidiary of CITIC Group Corp. and will
receive extraordinary group support when needed.

CITIC Resources is primarily engaged in crude oil production,
aluminum smelting, coal, and the import and export of commodities.
The Hong Kong-based company is also engaged in manganese
production, bauxite mining, and alumina refining through its
associates CITIC Dameng Holdings Ltd. and Alumina Ltd.


GOLDIN FINANCIAL: CK Asset Makes First Step to Rescue Firm
----------------------------------------------------------
Sandy Li at South China Morning Post reports that Hong Kong's
most-famous billionaire Li Ka-shing has sent a top lieutenant to
help rescue a cash-strapped developer in the first major blow-up
and restructuring to unfold from the city's property market slump.

Goldin Financial Holdings, the troubled developer with HK$18.5
billion of liabilities, named Gerald Ma Lai-chee as vice-chairman
and non executive director, according to an exchange filing on July
22, the Post relays. The 52-year-old executive, an executive
committee member at CK Asset, "will focus on providing financial
and restructuring advice" to the group, Goldin added.

"We will actively study Goldin's financial and debt status," CK
Asset said in a separate email statement to the press, in response
to queries about its role as a white knight to Goldin.

Helmed by billionaire Pan Sutong and a neighbour of Li's, Goldin is
embroiled in a legal fight with hostile creditors while it attempts
to recapitalise itself and quicken asset sales, the Post says.  Pan
himself has remortgaged his personal properties to repay debt,
according to Land Registry records.

According to the Post, Ma's appointment came a week after hostile
creditors filed notices to wind up Goldin and seize control of the
group's assets pledged as security for debt related to two loans
worth the equivalent of HK$3.5 billion in March 2019 and a HK$6.8
billion floating-rate bond in the following month.

The assets in peril include Goldin's 27-storey headquarters in
Kowloon Bay known as Goldin Financial Global Centre with a market
value of at least HK$15 billion, the Post discloses citing stock
exchange filing on July 15. Others include equity stakes in its
unlisted subsidiaries, it said.

The Post relates that Goldin has filed legal actions in the High
Court of Hong Kong to challenge the creditors and nullify the
appointments of "purported receivers". The group has been working
to raise HK$8.7 billion of fresh capital, while arguing that the
value of its headquarters alone offers a comfortable margin over
its indebtedness.

"We are open to discussing any kind of cooperation in refinancing
depending on the terms and conditions," Goldin said in a reply to
the Post, saying it is banking on Ma's experience to tackle its
problems and details of its refinancing plan will be announce in
due course. Goldin has fully repaid in 2019 an unspecified amount
of loan from CK Group, confirming past financial support from Li's
flagship.

The distressed developer had HK$18.5 billion in total liabilities
on December 31, the Post discloses citing the company's interim
accounts published in March, while its cash stood at HK$2.38
billion. Its principal bankers are Industrial and Commercial Bank
of China, Industrial Bank, Shanghai Commercial Bank and HSBC.

Li, Hong Kong's second richest man who is nicknamed Superman for
his business acumen, controls the CK conglomerate of property,
telecoms, retail and port businesses spanning some 50 countries,
according to the Post. He stepped down in 2018 to become a senior
adviser to the group.

It is not clear how far CK Asset will look into the Goldin
situation beyond the stated advisory role, the report states.
Getting on board, however, could give CK Asset an insight into its
books, and possibly cherry-pick some assets at distressed prices to
immediately alleviate the liquidity crunch.

Apart from the Kowloon Bay headquarters, Goldin's other notable
investments include a waterfront residential plot at the former
airport runway in Kai Tak. It was acquired for HK$8.91 billion in
late 2018. Local media reports in the past had speculated CK Asset
as the probable party behind a mystery offer to buy the Kai Tak
land parcel.

That offer on May 10 from little-known Top Family Group, was to be
completed within 30 days but has since been delayed. Goldin was
supposed to despatch a circular to shareholders on the sale no
later than July 24. There has been no update until the appointment
of Ma from CK Asset on July 22, the Post notes.

Based in Hong Kong, Goldin Financial Holdings Ltd is a diversified
company. The Company's operations include Factoring, Wine
Production and Sales and Property Investment and Development.




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

AERON EXPORTS: CRISIL Keeps B- on INR15cr Debt in Not Cooperating
-----------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Aeron
Exports Private Limited (AEPL) continues to remain in the 'Issuer
Not Cooperating' category.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           15         CRISIL B-/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with AEPL for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of AEPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on AEPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of AEPL
continues to be 'CRISIL B-/Stable Issuer Not Cooperating'.

AEPL was incorporated in 2012 by promoter, by Mr. Jainam Shah and
his family members. The Vadodara-based company trades in products
such as iron dust and steel scrap.


AKP PLASTICS PRIVATE: Insolvency Resolution Process Case Summary
----------------------------------------------------------------
Debtor: AKP Plastics Private Limited
        1/5/2 First Floor
        Reliance Nagar Alandurai
        Coimbatore TN 641101
        IN

Insolvency Commencement Date: December 4, 2019

Court: National Company Law Tribunal, Coimbatore Bench

Estimated date of closure of
insolvency resolution process: June 3, 2020

Insolvency professional: S. Muthuraju

Interim Resolution
Professional:            S. Muthuraju
                         No. 3, Sundaram Brothers Layout
                         Opp to All India Radio
                         Trichy Road
                         Ramanathapuram
                         Coimbatore 641045
                         E-mail: smrajunaidu@gmail.com

Last date for
submission of claims:    December 18, 2019


AMUDHA ASEPTIC: CRISIL Lowers Ratings on INR10cr Loans to B+
------------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Amudha Aseptic
Food Products (AAFP) to 'CRISIL B+/Stable Issuer Not Cooperating'
from 'CRISIL BB/Stable Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            4         CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB/Stable ISSUER NOT
                                    COOPERATING')

   Long Term Loan         6         CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB/Stable ISSUER NOT
                                    COOPERATING')

CRISIL has been consistently following up with AAFP for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 AAFP, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on AAFP is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of AAFP
Revised to 'CRISIL B+/Stable Issuer Not Cooperating' from 'CRISIL
BB/Stable Issuer Not Cooperating'.

PAFP was established in 2011, as a partnership firm in Tamil Nadu.
It manufactures pulp and concentrates of fruits such as mango,
guava, and tomato.

AAFP, set up in 2014, also manufactures fruit pulp and
concentrates. Both the firms have been promoted by Mr. E Mathavan
and his family members.


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

The instrument-wise rating actions are:

-- INR241.5 mil. Fund-based limit migrated to non-cooperating
     category with IND BB+ (ISSUER NOT COOPERATING) / IND A4+
     (ISSUER NOT COOPERATING) rating; and

-- INR12.23 mil. Term loan due on July 2021 migrated to non-
     cooperating category with IND BB+ (ISSUER NOT COOPERATING)
     rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
July 25, 2019. Ind-Ra is unable to provide an update, as the agency
does not have adequate information to review the ratings.

COMPANY PROFILE

Incorporated in 1982, Anantnath Silk Mills manufactures suiting
fabrics and linen products. The company is equipped with in-house
fabric weaving facilities and operates with a capacity of 114
looms.


APOGEE HEALTHCARE: Insolvency Resolution Process Case Summary
-------------------------------------------------------------
Debtor: Apogee Healtchare Private Limited
        Office No. 602, DLH Park
        S.V. Road, Goregaon (West)
        Mumbai City MH 400062
        IN

Insolvency Commencement Date: July 16, 2020

Court: National Company Law Tribunal, Mumbai Bench

Estimated date of closure of
insolvency resolution process: January 12, 2021

Insolvency professional: Mr. Kshitiz Gupta

Interim Resolution
Professional:            Mr. Kshitiz Gupta
                         Flat No. C/104
                         Lotus CHL
                         Gundecha Valley of Flowers
                         Thakur Village
                         Kandivali East
                         Mumbai 400101
                         E-mail: kshitiz.ca@gmail.com

                            - and -

                         B-202, Sheraton Classic
                         Dr Charat Singh Colony
                         Andheri East
                         Mumbai 400069
                         E-mail: cirp.apogeehealthcare@gmail.com

Last date for
submission of claims:    July 31, 2020


BELGIUM ALUMINIUM: CRISIL Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Belgium
Aluminium and Glass Industries Private Limited (BAGIPL) continues
to remain in the 'Issuer Not Cooperating' category.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Bank Guarantee         62        CRISIL D (ISSUER NOT
                                    COOPERATING)

   Cash Credit            35.7      CRISIL D (ISSUER NOT
                                    COOPERATING)

   Letter of Credit      44.97      CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with BAGIPL for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 BAGIPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on BAGIPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of BAGIPL
continues to be 'CRISIL D/CRISIL D Issuer not cooperating'.

BAGIPL, established in 2007, is engaged in facade engineering - it
designs, fabricates, and installs aluminium and glazed structures.
The company started operations in February 2012. It is promoted by
Dr. J R Gangaramani, who co-founded UAE-based Al Fara'a group,
which has an established position in the infrastructure industry.
BAGIPL's registered office is in Mumbai and manufacturing units are
at Rabale in Maharashtra, and in Gurgaon.


BHANSALI & CO: CRISIL Lowers Rating on INR180cr Loan to B+
----------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Bhansali & Co.
(Bhansali) to 'CRISIL B+/Stable Issuer Not Cooperating' from
'CRISIL BB+/Stable Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Post Shipment         180        CRISIL B+/Stable (ISSUER NOT
   Credit                           COOPERATING; Revised from
                                    'CRISIL BB+/Stable ISSUER NOT
                                    COOPERATING')

CRISIL has been consistently following up with Bhansali for
obtaining information through letters and emails dated December 31,
2019 and June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 Bhansali, which restricts
CRISIL's ability to take a forward looking view on the entity's
credit quality. CRISIL believes that rating action on Bhansali is
consistent with 'Assessing Information Adequacy Risk'. Based on the
last available information, the ratings on bank facilities of
Bhansali Revised to 'CRISIL B+/Stable Issuer Not Cooperating' from
'CRISIL BB+/Stable Issuer Not Cooperating'.

Bhansali is a partnership firm started by Bhansali family in 1963.
The firm is engaged in the business of manufacturing and trading of
cut and polished diamonds. The current partners of the firm are Mr.
Prakash Bhansali, Mr. Ashok Bhansali, Mr. Mahesh Bhansali, Mr.
Sahil Bhansali, Mr. Rahul Bhansali and Mrs. Jayvanti Bhansali. The
firm has its head office at Bandra, Mumbai and the manufacturing
unit at Surat and Deesa, Gujarat.


BHIMRAJ EXPORTS: CRISIL Lowers Rating on INR12cr Loan to B+
-----------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Bhimraj
Exports Private Limited (BEPL) to 'CRISIL B+/Stable Issuer Not
Cooperating' from 'CRISIL BB+/Stable Issuer Not Cooperating'.

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

CRISIL has been consistently following up with BEPL for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 BEPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on BEPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of BEPL
Revised to 'CRISIL B+/Stable Issuer Not Cooperating' from 'CRISIL
BB+/Stable Issuer Not Cooperating'.

Incorporated in 2011 and promoted by Mr. Rajendra Pradhan and Mr.
Bhimsen Lenka, Bhubaneswar-based BEPL exports shrimps.


BRICK EAGLE: Insolvency Resolution Process Case Summary
-------------------------------------------------------
Debtor: Brick Eagle Affordable Housing Advisory LLP
        Unit No. B-12-13, 2nd Floor
        Art Guild House
        Phoneix Market City
        LBS Road, Kurla (W)
        Mumbai 400070

Insolvency Commencement Date: July 15, 2020

Court: National Company Law Tribunal, Mumbai Bench

Estimated date of closure of
insolvency resolution process: January 11, 2021

Insolvency professional: Anshul Pathania

Interim Resolution
Professional:            Anshul Pathania
                         901, Sunset Heights
                         Hatiskar Marg
                         Prabhadevi
                         Mumbai 400025
                         E-mail: anshul.pathania@gmail.com
                                 cirpbeaha@gmail.com

Last date for
submission of claims:    July 29, 2020


DOLPHIN OFFSHORE: Insolvency Resolution Process Case Summary
------------------------------------------------------------
Debtor: Dolphin Offshore Enterprises (India) Limited
        1001, Raheja Centre
        214, Nariman Point
        Mumbai Maharashtra 400021

           - and -

        701/702 Lakhani Centrium
        Plot No. 27 Sector 15
        CBD Belapur (East)
        Navi Mumbai
        Maharashtra 400614

Insolvency Commencement Date: July 16, 2020

Court: National Company Law Tribunal, Mumbai Bench

Estimated date of closure of
insolvency resolution process: January 13, 2021

Insolvency professional: Vinit Gangwal

Interim Resolution
Professional:            Vinit Gangwal
                         Office No. 503, 5th Floor
                         Varun Capital
                         CTS No. 364-365/13
                         Off J M Road
                         Bharat Petrolium Lane
                         Next to Citiotel
                         Shivajinagar
                         Pune 411005
                         E-mail: ip.vinitgangwal@sudharman.in

                            - and -

                         504, 5th Floor
                         The Central Building
                         Shell Colony Road
                         Chembur (East)
                         Mumbai 400071
                         E-mail: ip.dolphinoffshore@gmail.com

Last date for
submission of claims:    July 31, 2020


EPHYSX TECHNOLOGIES: CRISIL Lowers Ratings on INR11cr Loans to D
----------------------------------------------------------------
CRISIL has downgraded the ratings of Ephysx Technologies Private
Limited (Ephysx, previously known as Smarttrack Solar Systems
Private Limited) to 'CRISIL D/CRISIL D Issuer Not Cooperating' from
'CRISIL B+/Stable/CRISIL A4 Issuer Not Cooperating'.

                   Amount
   Facilities    (INR Crore)    Ratings
   ----------    -----------    -------
   Bank Guarantee      2        CRISIL D (ISSUER NOT COOPERATING;
                                Downgraded from 'CRISIL A4 ISSUER
                                NOT COOPERATING')

   Cash Credit         8        CRISIL D (ISSUER NOT COOPERATING;
                                Downgraded from 'CRISIL A4 ISSUER
                                NOT COOPERATING')

   Proposed Cash       1        CRISIL D (ISSUER NOT COOPERATING;
   Credit Limit                 Downgraded from 'CRISIL A4 ISSUER
                                NOT COOPERATING')

CRISIL has been consistently following up with Ephysx for obtaining
information through letters and emails dated February 12, 2020 and
July 15, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component'.

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 Ephysx, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on Ephysx 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 coupled with adverse information in the
public domain, CRISIL has downgraded the ratings to 'CRISIL
D/CRISIL D Issuer Not Cooperating' from 'CRISIL B+/Stable/CRISIL A4
Issuer Not Cooperating'.

The downgrade reflects delays by the company in servicing of debt
obligation.

Incorporated in 2011 and based out of Hyderabad, Ephysx ( Ephysx,
previously known as Smarttrack Solar Systems Private Limited) is
engaged in the manufacture of solar trackers and other structural
components required for the manufacture of solar panels. The
company is promoted and being managed by Mr. Bhagwan Reddy.


FICOM ENGINEERING: CRISIL Lowers Rating on INR4cr Loan to B+
------------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Ficom
Engineering Private Limited (Ficom) to 'CRISIL B+/Stable Issuer Not
Cooperating' from 'CRISIL BB-/Stable Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            2.5       CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB-/Stable ISSUER NOT
                                    COOPERATING')

   Long Term Loan         4         CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB-/Stable ISSUER NOT
                                    COOPERATING')

   Proposed Long Term     3.5       CRISIL B+/Stable (ISSUER NOT
   Bank Loan Facility               COOPERATING; Revised from
                                    'CRISIL BB-/Stable ISSUER NOT
                                    COOPERATING')

CRISIL has been consistently following up with Ficom for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 Ficom, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on Ficom is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of Ficom
Revised to 'CRISIL B+/Stable Issuer Not Cooperating' from 'CRISIL
BB-/Stable Issuer Not Cooperating'.

Ficom was established in 2003 with Mr. Basavanaparthi Pillapiah
Krishnappa as the managing director. It manufactures FRP products
and has manufacturing facility in Hoskote Taluk in Karnataka.


FRONTIER KNITTERS: Ind-Ra Gives BB- Issuer Rating, Outlook Stable
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has assigned Frontier Knitters
Private Limited's (FKPL) a Long-Term Issuer Rating at 'IND BB-'.
The Outlook is Stable.

The instrument-wise rating actions are:

-- INR497.5 mil. Fund-based working capital limits assigned with
     IND BB-/Stable/IND A4+ rating; and

-- INR112.8 mil. Term loan due on September 2023 assigned with
     IND BB-/Stable rating.

KEY RATING DRIVERS

The ratings reflect FKPL's small scale of operations, modest EBITDA
margins, working capital-intensive operations and weak credit
metrics in FY20. The company's revenue declined 7.6% yoy to
INR1,485.49 million in FY20 due to the deferment of February and
March shipments to 1QFY21 owing to the COVID-19 led lockdown in the
US and UK markets. Ind-Ra expects the company's FY21 revenue to
surpass FY20's revenue on the back of orders in hand amounting to
INR1,761 million (1.2x of FY20 revenue) for 12MFY21. FY20 numbers
are provisional in nature.

The ratings also factor in the company's modest EBITDA margins. The
margins have been volatile, ranging from 7%- 15% in FY16-FY20 owing
to fluctuation in raw material costs. In FY20, EBITDA margins
expanded to 10.9% in FY20 (FY19: 7.78%) due to better absorption of
overhead expenses. The company's return on capital employed was 8%
in FY20 (FY19: 4%).

The ratings are further constrained by FKPL's weak credit metrics,
as reflected by interest coverage (operating EBITDA/gross interest
expense) of 2.7x in FY20 (FY19: 2.1x) and net adjusted leverage
(total adjusted net debt/operating EBITDAR) of 4.64x (5.7x). The
credit metrics' improvement was on account of an increase in the
absolute EBITDA to INR162.7 million in FY20 (FY19: INR125 million).
Ind-Ra expects FKPL's credit metrics to marginally deteriorate in
FY21 due to the stress in the EBITDA, which will be adversely
impacted by the COVID-led volatility in raw material prices.

Liquidity Indicator – Stretched: FKPL's average peak utilization
of its working capital limits stood at 98% over the 12 months ended
June 2020. The cash and cash equivalents stood at INR7.85 million
for FYE20 (FYE19: INR9.12 million). Further, the cash flow from
operations turned negative to INR38 million in FY20 (FY19: INR148.5
million) due to an elongation in inventory days to 543 (467)
leading to stretched working capital cycle to 458 days (390 days).
The company's operations remained working capital intensive in FY21
and FY22 due to its nature of operations. FKPL has also availed of
the Reserve Bank of India-prescribed moratorium from April 2020 to
August 2020. The company has no major capital expenditure over the
short-to-medium term.

The ratings, however, continue to be supported by the promoter's
experience of over three decades in the manufacturing and exporting
of ready-made garments.

RATING SENSITIVITIES

Negative: Any further deterioration in the liquidity position,
elongation in the working capital cycle, and the interest coverage
reducing below 1.5x would be negative for the ratings.

Positive: An improvement in the liquidity position and interest
coverage sustaining above 2.5x while maintaining the profitability
would be positive for the ratings.

COMPANY PROFILE

Based in Tirupur (Tamil Nadu), FKPL was established as a
partnership firm in 1988 by Mohammed Thajutheen. The firm
reconstituted as a private limited company in October 2010. FKPL
manufactures and exports knitted garments to all segments such as
womens, mens and kidswear.


FUTURE RETAIL: Fitch Cuts LT IDR to 'C' on Missed Coupon
--------------------------------------------------------
Fitch Ratings has downgraded Indian retailer Future Retail
Limited's Long-Term Issuer Default Rating to 'C' from 'CCC+', and
the rating on its USD500 million 5.6% senior secured notes due in
2025 to 'C' from 'CCC+', with the Recovery Rating remaining at
'RR4'.

The downgrade follows FRL's announcement that it was unable to pay
of the semi-annual interest payment of USD14 million on its US
dollar bonds on July 22, 2020.

KEY RATING DRIVERS

Missed Coupon; Grace Period: The downgrade of FRL's ratings
reflects that it has missed the coupon due on July 22, 2020 on its
US dollar bonds. The company has a 30-day grace period to satisfy
the payment obligations. The company continues to negotiate with
banks for the release of further peak working capital facilities,
which were due earlier in July, but which the company said were
delayed due to procedural issues. It said that it will cure the
missed payment when it receives cash inflows from further bank
funding, the sale of assets or an equity injection from strategic
or financial investors. However, if this does not happen during the
grace period, this will constitute an Event of Default and Fitch
will likely downgrade FRL's IDR and the rating on the bond to
'RD'.

Severe Liquidity Crunch: FRL's liquidity position remains under
severe pressure as a result of the India-wide coronavirus-related
lockdown measures imposed by the government. The Indian government
relaxed some of the restrictions in June, which saw a slight
pick-up in FRL's sales. However, recent localised outbreaks led to
several states re-imposing restrictions - which do not currently
have an end-date. Some of FRL's stores have remained open, but they
sell mainly groceries and other essential items that carry lower
margins than discretionary items, such as apparel.

ESG - Management Strategy: FRL has an ESG Relevance Score of 5 for
Management Strategy. The inability of management to secure the
release of the additional peak working capital facilities to
improve cash flows and therefore pay the US dollar bond coupon
shows that while the strategy may be coherent, management's ability
to implement it has been hindered by the controlling shareholder's
negotiations to obtain equity from or pursue divestments with
strategic or financial investors and by the impact of the
coronavirus on the business. This resulted in the downgrade of the
IDR and bond ratings.

Promoter Debt, Change of Control Risks: Key shareholders are
evaluating multiple options to obtain equity from or pursue
divestments with strategic or financial investors to reduce debt
and free up pledged FRL stakes. They are also considering the
monetisation of stakes in other entities and investment properties.
These steps, if successful, will improve financial flexibility at
the entities and reduce the risk of a change of control clause
being triggered, which would give bondholders the option to redeem
FRL's US dollar bonds.

Nonetheless, a subdued valuation, a high level of share pledges at
the group's other listed entities and a lack of liquidity in the
current environment pose risks to the execution of these plans.
Possible delays in finalising new investors and lenders enforcing
their rights following the breach of collateral cover requirements
could also present significant challenges, despite a court ruling
providing interim relief until July 31, 2020 from lenders invoking
pledges on FRL shares.

ESG - Governance: FRL has an ESG Relevance Score of 5 for
Governance Structure. The constrained financial flexibility and
impending risk of default at its main shareholder - Future
Corporate Resources Pvt Ltd (FCRPL) - underscores the shareholder's
aggressive approach in balancing growth investment at its operating
companies with limiting leverage and preserving balance-sheet
flexibility. This has a negative effect on FRL's rating. Fitch
believes the restrictions in the bond documentation limit the risk
of cash leakage to FCRPL, but a default at FCRPL will cause
significant reputational damage and could constrain FRL's ability
to secure additional working capital lines to ease pressure on
liquidity due to the coronavirus pandemic.

DERIVATION SUMMARY

FRL's rating reflects the missed coupon payment on its outstanding
US dollar bond and the start of the company's 30-day grace period.

KEY ASSUMPTIONS

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

  - Sales to rise by 6% in the financial year ending March 31, 2021
(FY21). Fitch has assumed the shutdown will last to September 2020
with 1HFY21 representing 30%-35% of normalised sales and limited to
groceries. From October-March, sales to increase to 60% of
normalised sales and improve gradually thereafter.

  - Sales to rise by more than 20% in FY22 following normalisation
after the pandemic and growth from new stores and the Amazon.com,
Inc. (A+/Positive) tie-up.

  - EBITDA margin to decline to 4.5% in FY21 (FY20 estimate: 5.3%),
despite the benefit of lower rental expenses following the purchase
of in-store assets from Future Enterprises. The decline is likely
to be caused by a falling non-food segment margin due to the
pandemic. The EBITDA margin should improve to 8.0% in FY22.

  - Annual capex as percentage of sales to remain at around 3% over
FY20-FY22.

  - Dividends to resume in FY22.

Recovery Rating Assumptions

  - Fitch's recovery analysis is based on FRL's liquidation value
in a distressed scenario of around INR77 billion from the
liquidation of assets, which are composed primarily of inventory,
receivables and owned property, plant and equipment (PP&E), as that
is higher than its going-concern value of INR50 billion.

  - The going-concern value is based on a going-concern EBITDA of
INR10 billion and a 5x multiple. The EBITDA assumes a rightsizing
of the business if interest, operating expenditure and maintenance
capex are covered. The 5.0x multiple is towards the higher end of
the 5.4x median multiple for retail going-concern reorganisations
to reflect FRL's leading market position in India. It is lower than
9.0x - the level that FRL was trading on March 26, 2020.

  - Fitch has applied a 50% advance rate against receivables and a
25% rate against inventory and 50% against PP&E as a proxy for the
orderly liquidation value of the assets. Fitch has applied 10% for
administrative claims.

  - Fitch assumes debt of INR66.4 billion at end-March 2020. FRL
has a predominantly secured debt structure, with secured working
capital and secured US-dollar notes accounting for the majority of
debt. Fitch assumes that FRL's available but undrawn lines will be
fully drawn.

  - The recovery waterfall results in a recovery-rate estimate
corresponding to a 'RR2' Recovery Rating for the USD500 million
secured notes, even after assuming that the remainder of secured
debt has a priority claim ahead of the notes. Nevertheless, Fitch
has rated the US dollar notes at 'C', with a Recovery Rating of
'RR4', because under Fitch's Country-Specific Treatment of Recovery
Ratings Criteria, India falls into group D of creditor
friendliness. Instrument ratings of issuers with assets in this
group are subject to a soft cap at the issuer's IDR and Recovery
Ratings are capped at 'RR4'.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

  - FRL curing the missed coupon payment within the grace period.

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

  - Failure to cure the missed coupon payment within the grace
period.

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

Liquidity Crunch: Fitch believes that FRL does not have the funds
to cure the missed payment and is dependent on release of new
working capital lines to improve cash flow and meet the payment
during the grace period.

Following the implementation of coronavirus-related restrictions in
India, FRL's cash generation ability has been significantly
reduced, resulting in FRL requesting early release of peak
working-capital facilities, extensions to its working capital
facility limits and other emergency financing options provided by
the Indian government. FRL's inability to secure the release of
additional peak working capital facilities in early July 2020 led
to a disruption in its cash flows, resulting in the non-payment of
the coupon on the US dollar bond.

FRL has scheduled long-term debt maturities in FY21 of INR1.5
billion, and there are no meaningful long-term debt maturities
before 2025, when USD500 million of secured notes mature. In
addition to the coronavirus-related impact, FRL's liquidity
position faces heightened vulnerability from adverse credit
developments at FCRPL, which could lead to redemption of the US
dollar notes following the triggering a change of control event, as
defined in the US-dollar notes indenture.

REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF
RATING

The principal sources of information used in the analysis are
described in the Applicable Criteria.

ESG CONSIDERATIONS

FRL has ESG Relevance Scores of 5 for Management Strategy, 5 for
Governance Structure and 4 for Exposure to Social Impacts, all of
which have negative impact on the rating. The missed coupon payment
shows that management's ability to implement its strategy has been
hindered by the key shareholder's plans to seek equity from or
pursue divestments with investors and by the coronavirus pandemic,
while the governance issues relate to the constrained financial
flexibility and impending risk of default at its main shareholder.
FRL also faces challenges from e-commerce and shifts in customer
spending.

Except for the matters discussed, the highest level of ESG credit
relevance, if present, is a score of 3 - ESG issues are credit
neutral or have only a minimal credit impact on the entity(ies),
either due to their nature or the way in which they are being
managed by the entity(ies).


G. T. HOMES: CRISIL Keeps D on INR23cr Debt in Not Cooperating
--------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of G. T.
Homes (GTH) continues to remain in the 'Issuer Not Cooperating'
category.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Term Loan              23        CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with GTH for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 GTH, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on GTH is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of GTH
continues to be 'CRISIL D Issuer Not Cooperating'.

GTH, established in 2003 as a partnership firm, executes real
estate projects; it is owned and managed by Mr. Gajendra Singh
Rajpal and his nephew, Mr. Gurjeet Singh Rajpal. The firm is
currently executing two residential real estate projects in Raipur
and Naya Raipur (both in Chhattisgarh).


GAJRA BEVEL: Insolvency Resolution Process Case Summary
-------------------------------------------------------
Debtor: Gajra Bevel Gears Ltd
        Industrial Area
        A.B. Road Dewas
        MP 455001
        IN

Insolvency Commencement Date: June 12, 2020

Court: National Company Law Tribunal, Indore Bench

Estimated date of closure of
insolvency resolution process: December 8, 2020
                               (180 days from commencement)

Insolvency professional: Mr. Navin Khandelwal

Interim Resolution
Professional:            Mr. Navin Khandelwal
                         206, Navneet Plaza
                         5/2 Old Palasia
                         Indore 452018
                         E-mail: navink25@yahoo.com
                                 cirpgajra@gmail.com

Last date for
submission of claims:    July 27, 2020


GAJRAJ AUTOMOBILES: CRISIL Lowers Rating on INR4cr Loan to B+
-------------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Gajraj
Automobiles Private Limited (GAPL) to 'CRISIL B+/Stable Issuer Not
Cooperating' from 'CRISIL BB/Stable Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            4         CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB/Stable ISSUER NOT
                                    COOPERATING')

   Inventory Funding     12         CRISIL B+/Stable (ISSUER NOT
   Facility                         COOPERATING; Revised from
                                    'CRISIL BB/Stable ISSUER NOT
                                    COOPERATING')

CRISIL has been consistently following up with GAPL for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 GAPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on GAPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of GAPL
Revised to 'CRISIL B+/Stable Issuer Not Cooperating' from 'CRISIL
BB/Stable Issuer Not Cooperating'.

GAPL, incorporated in February 2010, is an authorised dealer of
MHCVs of TML in seven districts of Odisha. The company is promoted
and managed by Odisha-based Mr. Bhanu Prakash Jalan.


GMR HYDERABAD: S&P Lowers ICR to 'BB-' on Slow Traffic Recovery
---------------------------------------------------------------
S&P Global Ratings, on July 24, 2020, lowered its long-term issuer
credit rating on GMR Hyderabad International Airport Ltd. (GHIAL)
and its long-term issue rating on the company's senior secured
notes to 'BB-' from 'BB'.

S&P said, "We lowered the rating on GHIAL because weak passenger
traffic amid high committed spending over the next three years will
result in significantly higher leverage than we anticipated. One or
more environmental, social, and governance (ESG) credit factors are
key drivers behind the rating action.

"We forecast GHIAL's ratio of OCF to debt will fall sharply to
below 5% over the next two fiscal years ending March 31, from about
26% in fiscal 2019. This compares with our earlier expectation of
more than 6.5% over its next five-year tariff block, which starts
in fiscal 2022.

"We believe GHIAL's dependence on the timely implementation of the
CP3 tariff (for the period from April 1, 2021, to March 31, 2026)
has increased, given the lower CP2 tariff that took effect from
April 1, 2020. In our view, GHIAL's CP3 tariff implementation,
which was targeted for April 2021, could be delayed. Furthermore,
while we expect that the CP3 tariff will be higher than current
levels, the magnitude is uncertain. This is because the
consultation paper has yet to be completed and approved by the
Airports Economic Regulatory Authority of India. The regulator also
does not have a track record of timely tariff resets.

"We expect that passenger traffic volumes for GHIAL will be
considerably lower than our previous expectations as India
struggles to control the COVID-19 outbreak. Although 30% of
domestic routes restarted at the end of May, passenger traffic will
likely remain muted. This is particularly the case in many tier-one
cities that cater to most of the domestic routes, including Delhi,
Mumbai, Chennai, Bangalore, and Ahmedabad.

"We now estimate international traffic in India will drop by 75%
and domestic traffic will fall by 55% in fiscal 2021. We had
earlier assumed that GHIAL will see declines of 25%-28% in
international traffic and 20%-25% in domestic traffic in fiscal
2021. We believe passenger propensity to travel will be low as the
virus continues to spread in India. Reluctance to travel, combined
with ongoing travel restrictions and social distancing measures in
India and abroad, will likely lead to a sharper fall in air traffic
in India than global estimates by the International Air Transport
Association.

"In our opinion, domestic and international traffic in India is
unlikely to recover to pre-COVID-19 levels before fiscal 2024. We
anticipate that our revised traffic assumptions will translate into
an approximate 60% drop in GHIAL's total revenue in fiscal 2021,
which includes the impact of the 50% tariff cut on April 1, 2020.
We expect the company's revenue to increase by about 120% in fiscal
2022 if the higher CP3 tariff is implemented on time. However, if
the tariff is delayed by a year, revenue growth will be around 50%
in fiscal 2022."

GHIAL has limited flexibility in its cost structure and capital
expenditure (capex) to respond to the deteriorating operating
environment. S&P anticipates that weaker passenger volumes and a
slow traffic recovery could push EBITDA margins lower to around
about 40% in fiscals 2021 and 2022, from around 55% in fiscal 2020.
This is because 60%-70% of the company's costs are fixed. GHIAL's
total capex program will still amount to Indian rupee (INR) 60
billion (about 30% has been spent as of fiscal 2020) because the
airport was operating at traffic levels beyond its capacity.
However, GHIAL will be able to moderately delay its capex, as it
now expects expansion completion in fiscal 2023 rather than fiscal
2022.

Given weaker traffic volumes and the lower tariff, the strength of
GHIAL's cash flows will depend on the timely implementation of a
sufficiently high CP3 tariff. S&P said, "We estimate the CP3 tariff
will incorporate more than 70% of the company's upcoming spending
plans and the true-up of lost revenues due to lower traffic volumes
related to the COVID-19 pandemic. We therefore believe the eventual
tariff could be more than double the current tariff levels."

S&P said, "However, we see further downside risk for the rating on
GHIAL if the regulator approves a lower tariff increase, CP3 is
delayed by more than one year, or GHIAL's actual passenger numbers
are lower than incorporated in the tariff determination. Our base
case assumes that the CP3 tariff will be delayed by one year and
implemented on April 1, 2022."

S&P Global Ratings acknowledges a high degree of uncertainty about
the evolution of the coronavirus pandemic. The consensus among
health experts is that the pandemic may now be at, or near, its
peak in some regions, but will remain a threat until a vaccine or
effective treatment is widely available, which may not occur until
the second half of 2021. S&P is using this assumption in assessing
the economic and credit implications associated with the pandemic.
As the situation evolves, S&P will update its assumptions and
estimates accordingly.

Environmental, social, and governance (ESG) credit factors for this
credit rating change:

-- Health and Safety

S&P said, "The negative outlook reflects our view that GHIAL's
OCF-to-debt ratio could fall sustainably below 4.5% over its next
five-year tariff block, and its funds from operations cash interest
coverage ratio could be less than 1.5x over the next 12-24 months.
We believe there is downside risk due to regulatory uncertainty in
the timely implementation of the CP3 tariff and further weakness to
passenger traffic volumes, while the company pursues its high capex
plans.

"We could lower the rating on GHIAL if the CP3 tariff is delayed
for more than a year or passenger traffic is weaker than we expect.
We could also lower the rating if regulatory uncertainties and
delays in tariff implementation continue, heightening the
uncertainty over the company's capex recovery and returns. This may
result from, among other things, the regulator failing to
compensate GHIAL adequately for the agreed capex. Failure to timely
tie up sufficient funding for the company's committed spending
program could also put downside pressure on the rating.

"We could revise the outlook to stable if the CP3 tariff adequately
compensates GHIAL for passenger traffic trends and capex,
supporting an OCF-to-debt ratio of more than 5% on a sustainable
basis."


GOKUL GINNING: CRISIL Keeps B+ on INR6cr Debt in Not Cooperating
----------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Gokul
Ginning and Oil Industries (GGOI) continues to remain in the
'Issuer Not Cooperating' category.

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

CRISIL has been consistently following up with GGOI for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 GGOI, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on GGOI is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of GGOI
continues to be 'CRISIL B+/Stable Issuer Not Cooperating'.

GGOI is an Amreli, Gujarat-based partnership firm established in
2008. It manufactures cotton bales and kapasia, cotton oil, and
deoiled cakes. Mr. Aminali K Gangani, Mr. Siraj P Keshwani, and Mr.
Sahejad B Gangani are key partners in the firm.


GOLCONDA TEXTILES: CRISIL Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Golconda
Textiles Private Limited (GTPL) continues to remain in the 'Issuer
Not Cooperating' category.

                        Amount
   Facilities         (INR Crore)     Ratings
   ----------         -----------     -------
   Bank Guarantee          .55        CRISIL D (ISSUER NOT
                                      COOPERATING)

   Cash Credit           11.00        CRISIL D (ISSUER NOT
                                      COOPERATING)

   Proposed Long Term      .45        CRISIL D (ISSUER NOT
   Bank Loan Facility                 COOPERATING)

   Term Loan              4.00        CRISIL D (ISSUER NOT
                                      COOPERATING)

CRISIL has been consistently following up with GTPL for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 GTPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on GTPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of GTPL
continues to be 'CRISIL D/CRISIL D Issuer not cooperating'.

GTPL was set up by Mr. Mahmood Alam Khan in 1995. The company
manufactures combed and carded cotton yarn. Its manufacturing
facility is in Vikarabad (Andhra Pradesh).


GOLD EN GLOW: CRISIL Assigns B+ Rating to INR10cr Proposed LT Loan
------------------------------------------------------------------
CRISIL has assigned its 'CRISIL B+/Stable' rating to the long term
bank facilities of Gold En Glow (GEG).

                        Amount
   Facilities         (INR Crore)     Ratings
   ----------         -----------     -------
   Proposed Long Term
   Bank Loan Facility      10         CRISIL B+/Stable (Assigned)

The rating reflects the modest scale of operations in the intensely
competitive gems and jewellery segment, vulnerability of operating
margin to fluctuations in forex rates and its weak financial risk
profile. These weaknesses are partially offset by the extensive
experience of the proprietor.

Key Rating Drivers & Detailed Description

Weaknesses:

* Modest scale of operations in the intensely competitive gems and
jewellery segment:  The firm has a modest scale of operations as
indicated by the revenue of INR50 crore in fiscal 2020 in the
intensely competitive gems and jewellery segment. The industry is
highly fragmented because of low entry barriers on account of low
capital and technology requirements, attracting numerous
unorganized players across the country leading to intense
competition. The intense competition and small scale of operations
will continue limit its operating flexibility.

* Vulnerability of operating margin to fluctuations in forex rates:
Since majority of revenue comes from the international market, any
sharp fluctuation in forex rates affects realizations and accrual.
This exposes the operating margin to fluctuations in forex rates.
The margins have remained modest and is estimated at 1.7% in fiscal
2020.

* Weak financial risk profile:  The financial risk profile is weak
marked by small networth and subdued debt protection metrics.
Networth is estimated at INR4 crores as on March 31, 2020. Interest
coverage and net cash accruals to total debt are estimated at 1.40
times and 0.04 times respectively for fiscal 2020. However gearing
is moderate at 1 time due to moderate dependence on external
borrowings to meet the working capital requirements.

Strength:

* Extensive industry experience of the promoters:  The proprietor
has an experience of over 2 decades in Gold Jewellery & Diamond
industry. The proprietor is the third generation entrepreneur in
the family's jewellery business. This has enabled an understanding
of the dynamics of the market and establish relationships with
suppliers and customers.

Liquidity Poor
The liquidity is weak marked by modest accruals of just over
INR0.20 crore against which it has no repayment obligations over
the medium term. Bank limits of INR10 crores were utilized
moderately at around 40-50 percent for the past twelve months
through June 2020.

Outlook: Stable

CRISIL believe GEG will continue to benefit from the extensive
experience of its promoter, and established relationships with
clients.

Rating Sensitivity factors

Upward factor

  * Sustained improvement in scale of operation and/or operating
margins resulting in net cash accruals of over INR1 crores

  * Capital infusion resulting in improvement in the financial risk
profile

Downward factor

  * Decline in profitability to below 1%

  * Large debt-funded capital expenditure or witnesses a
substantial increase in its working capital requirements thus
weakening its liquidity & financial profile.

GEG was established in the year 2000. GEG is engaged into
manufacturing and sale of gold jewellery. GEG is owned & managed by
Mr. A. S. Vigneesh.


GOLHAR GINNING: CRISIL Keeps B- Debt Ratings in Not Cooperating
---------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Golhar
Ginning & Oils Private Limited (GGOPL) continues to remain in the
'Issuer Not Cooperating' category.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           4.75       CRISIL B-/Stable (ISSUER NOT
                                    COOPERATING)

   Long Term Loan        4.10       CRISIL B-/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with GGOPL for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 GGOPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on GGOPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of GGOPL
continues to be 'CRISIL B-/Stable Issuer Not Cooperating'.

GGOPL was incorporated in November 2012, by Mr. Dhanraj Golhar
along with his brother Mr. Damodar Golhar. The company is engaged
in ginning of raw cotton (kapas); it began commercial production
from Nov 2014. The company has its manufacturing unit at
Hinganghat, Maharashtra.


GRECCY KNIT: CRISIL Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Greccy
Knit (GK) continues to remain in the 'Issuer Not Cooperating'
category.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           0.75       CRISIL D (ISSUER NOT
                                    COOPERATING)

   Term Loan             5.43       CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with GK for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 GK, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on GK is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of GK
continues to be 'CRISIL D Issuer Not Cooperating'.

Incorporated in 2014, GK is a partnership firm, which is setting up
a unit to manufacture grey fabrics, to be used in sarees and other
garments. It is being promoted by Mr. Bharat Zalavadiya and his son
Mr. Gaurang Zalavadiya.


GREENKO ENERGY: Fitch Hikes LT IDR to BB, Outlook Stable
--------------------------------------------------------
Fitch Ratings has upgraded Greenko Energy Holdings' Long-Term
Foreign-Currency Issuer Default Rating to 'BB', from 'BB-', with a
Stable Outlook. The agency has also upgraded the ratings of Greenko
Solar Limited's USD500 million 5.55% senior notes due 2025 and
USD535 million 5.95% senior notes due 2026 as well as Greenko
Investment Company's USD500 million 4.875% senior notes due 2023 to
'BB', from 'BB-'. At the same time, the agency has affirmed Greenko
Dutch B.V.'s USD350 million 4.875% senior notes due 2022 and USD650
million 5.25% senior notes due 2024 at 'BB'. GSM, GIL and GBV are
subsidiaries of Greenko.

The restricted groups for the bonds issued by GSM, GIL and GBV have
accumulated significant cash from operation. Greenko has committed
to not take dividends from the RGs, but has accessed RG-level cash
via transfer of debt-free operational assets, which have limited
restrictions under the RG bond covenants. This has led us to
believe that taking a consolidated view of the group will more
accurately reflect the risk profiles of the holding company and its
RG issuers; GBV, GIL and GSM. Greenko plans to use the accumulated
cash to cut debt at its operating entities, with new projects
funded by shareholder equity.

Its 'bb' assessment of Greenko's consolidated group credit profile
is underpinned by the business and financial profiles of Greenko's
entire portfolio of renewable power assets, as well as strong
funding-market access and liquidity support owing to strong
shareholders; GIC, Singapore's sovereign wealth fund, and Abu Dhabi
Investment Authority. GIC, in particular, has provided consistent
equity support for Greenko's investments.

The dollar bonds are guaranteed by Greenko. The issuers invest in
the Indian-rupee debt issued by the operating subsidiaries, a
process through which the proceeds of the dollar notes are on lent
to the operating subsidiaries. The issuers are only secured lenders
to the RGs and do not hold equity in the operating subsidiaries,
which are held by Greenko. The bond ratings reflect Greenko's 'bb'
Standalone Credit Profile and at least average recovery prospects.
The average recovery on the US-dollar bonds indirectly benefits
from the rupee-denominated notes' first charge on most of the
assets of the RGs.

Greenko's SCP remains steady, despite its expectation of lower
power demand amid the prevailing coronavirus pandemic, which is
likely to increase curtailment risk and extend receivable days for
renewable energy producers in the financial year ending March 2021
(FY21). Fitch expects Greenko's financial profile to improve in
FY22, based on a gradual recovery in India's economic growth. The
central government's liquidity support package should also improve
the receivable position. The full acquisition of a 1,200MW
hydro-power project will also support the group's credit metrics
from FY22.

KEY RATING DRIVERS

Consolidated Credit Assessment: Greenko's RGs benefit from
covenanted restrictions on cash out flow and additional debt
incurrence. However, Greenko's access to the RGs' cash is not
strictly limited. There have been multiple instances in which
Greenko has injected assets into GIL and GBV for cash
consideration. Greenko added two wind projects, totalling 56MW, to
GIL and two assets to GBV, totalling of 60MW, in FY20.

Continuing Support from GIC: Greenko's SCP is supported by
consistent financial support and strategic appraisal from GIC,
which owns 64.9% of the company and holds five out of 10 board
seats. GIC, as well as ADIA, committed another USD194 million in
February this year, in line with Greenko's plan to increase its
stake in its ongoing acquisition of the hydro project, taking their
total investments to USD2.2 billion. This follows an additional
USD824 million in May 2019 to support Greenko's acquisitions and
expansion into renewable-energy storage.

GIC is also involved in the group's strategy, including investment
plans and oversight of operations, and continues to strengthen the
company's risk management practices. Greenko has demonstrated a
record of deleveraging at the portfolio level by retaining cash
from its operating assets to reduce associated borrowings or buy
more assets with little to no additional debt.

Structural Subordination from RGs: Greenko created the three RGs to
issue US-dollar notes, with capacity of 558MW at GIL, 1,089MW at
GSM and 1,151MW at GBV. This was carved out from its current total
operational capacity of 4.1GW. The company has also raised bonds in
the domestic market, creating another RG with 500MW. The structural
features created through these notes' indentures restrict the
outflow and use of cash generated from the assets, which are highly
free-cash generative, to a degree.

Management intends to retain more cash at the RG level, but Greenko
has the ability, if needed, to tap the cash within the indenture
conditions. Greenko has also raised sufficient equity ahead of
substantial investments, leading to a moderate level of debt at the
holding-company level. Its 2.3GW portfolio of diversified
unrestricted assets - including projects that are due to come
online or be acquired in FY21 - further enhances Greenko's
financial flexibility.

Adequately Equity-Funded Storage Projects: Greenko plans to build
integrated renewable-energy projects, combining pumped storage with
solar and wind projects, to fuel growth. The company has two such
projects in its pipeline, with a combined capacity of 2.4GW,
entailing an investment outlay of about USD2 billion. Fitch
believes associated execution risks are manageable in light of
moderate technological intensity against management's strong
expertise and demonstrated record in developing renewable assets in
general and hydro projects in particular.

Leverage to Stay High: The group's consolidated leverage will
remain at around 6.0x. The construction of the storage projects
will start by the end of this year but Fitch expects EBITDA
accretion only three to four years down the line. However, the
projects are adequately equity financed by sponsors with no
debt-servicing requirements during the construction phase. At the
same time, the group's financial profile, excluding the storage
projects, exhibits meaningful deleveraging capacity. Fitch expects
Greenko's leverage, defined by net debt/EBITDA, to drop below 5.0x
in FY24 (FY20E: 6.5x), before factoring in storage-project
investment, and for EBTIDA net interest cover to improve to 2.0x by
FY24 (FY20E: 1.5x).

Seasoned, Diversified Portfolio: About 95% of Greenko's 5.7GW
capacity is operational, with a weighted-average age of about four
years. The power projects' diversity by type - wind (41%), solar
(27%) and hydro (32%) - and geography mitigates risks from adverse
climatic conditions. The portfolio is spread across 13 Indian
states. Off-taker mix is also diversified across state utilities
(64%), sovereign-owned entities (16%) and direct industrial and
commercial customers (6%). Greenko's solar and hydro portfolio
produced electricity in line with its expectations in FY20,
although wind-based generation suffered due to curtailment from the
state of Andhra Pradesh.

Weak Counterparty Profiles: The weak credit profiles of Greenko's
key customers, state utilities, are a rating constraint. The
group's receivable days increased to an average of 230 in FY20,
from 178 days in FY19. The group also has an element of
concentration in its exposure to state utilities, with Andhra
Pradesh accounting for 20% of offtake by capacity. Delays in
receipts from state utilities exert working-capital pressure. Fitch
expects most of Greenko's storage capacity to be contracted with
sovereign-owned entities, which should significantly reduce the
company's counterparty risk.

Long Term Contracts, Price Certainty: The majority of Greenko's
assets benefit from long-term power purchase agreements, which
offer tariff visibility. The PPAs have an average remaining period
of about 24 years, 12 years, 22 years and 15 years for Greenko's
unrestricted group, GIL, GSM and GBV, respectively. Most of the
electricity generated from the 1,200MW hydro power project is sold
in the merchant market, which does not affect Greenko's credit
profile given the lower average cost of electricity generation from
the project. However, Fitch expects management to sign long-term
agreements once it fully owns the asset.

Foreign-Exchange Risk Largely Hedged: Foreign-exchange risk arises
as the earnings of Greenko's assets are in Indian rupees, while the
notes are denominated in US dollars. The group's policy requires
Greenko to substantially hedge the principal of its US-dollar notes
over the tenor of the bonds. The coupons are usually hedged till
the no call period and are rolled over thereafter, based on market
dynamics.

DERIVATION SUMMARY

ReNew RG II (senior secured rating: BB) is a RG with total capacity
of 636MW across 11 renewable projects in India and no construction
risk. ReNew RG II's fuel mix is better than that of Greenko, with
56% exposure to solar and the balance to wind. ReNew RG II has a
tighter transaction structure, with no additional indebtedness
allowed, a six-month interest service reserve account and a
covenanted payment of interest on initial top-up to the parent at
8% a year. ReNew RG II's average credit metrics over the life of
its bond are also slightly better. Greenko's credit assessment at
the same level benefits from its solid financial access. Greenko's
shareholders, in addition to contributing equity, have introduced
stronger risk-management practices, including a commitment to
deleveraging.

ReNew Power Private Limited (BB-/Stable) has stronger counterparty
exposure, with about 43% of capacity contracted with
sovereign-owned entities. The group's fuel mix is also better, with
almost half of its capacity coming from solar resources. However,
Greenko intends to contract its storage capacity mainly with
sovereign-owned entities, which should address its higher
counterparty and resource risks in the medium term. Greenko's
better credit assessment is supported by its stronger financial
access, which enables the company to rely on fresh equity for
investments and acquisitions, while utilising cash generated from
operations to deleverage. Greenko's focus on pumped storage
projects, which have a long gestation period of about three years,
will increase financial leverage in the medium term. Nevertheless,
the projects are adequately funded, with an equity commitment from
Greenko's shareholders in place.

Concord New Energy Group Limited (CNE, BB-/Negative) has an
attributable wind capacity of 2,277MW across multiple projects in
China. CNE's feed-in tariffs are stable and its counterparty risk
is significantly lower, as its revenue stream is mostly reliant on
State Grid Corporation of China (A+/Stable) and China's Renewable
Energy Subsidy Fund. In comparison, Greenko has a larger size -
allowing for diversity and granularity across multiple projects -
and a better fuel mix. Greenko has higher counterparty risk, with
exposure to weak Indian state-owned distribution companies, but CNE
also suffers from delayed subsidy collections. CNE's financial
profile is comparable with that of Greenko, as its higher interest
cover compensates for Greenko's higher leverage. CNE's funding
relies on asset sales, while Greenko's stronger financial access
somewhat compensates for its structural subordination to RGs.
Combined, Greenko's underlying SCP is at least a notch better than
that of CNE, in its view. The Negative Outlook on CNE is based on
the uncertain timing and success of the refinancing of its
US-dollar bonds under the currently volatile market condition and
slower deleveraging that Fitch expectsed in 2019.

KEY ASSUMPTIONS

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

  - Construction of storage projects to begin in 4QFY21, with the
first project commencing operation in FY25. Total outlay of INR70
billion for each project, with EBITDA accretion of around INR11
billion.

For rest of the portfolio:

  - 300MW of under-construction capacity to commence operation in
FY21

  - Plant load factors to decline by 2pp in FY21 due to lower
demand amid the pandemic. Average load factors of 34% from FY22,
with the full acquisition of the 1,200MW hydro power project

  - Tariffs in line with PPAs

  - EBITDA margin to stay at around 85% over next four years,
before declining to around 58% as storage projects commence
operations.

  - Receivable days to increase to about 300 in FY21, before
gradually improving to about 150 by FY23.

  - Cash accruals from operations to be used to deleverage, with
growth financed from external funds supported by adequate equity.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

  - A sustained improvement in leverage, as measured by net
debt/EBITDA, to below 4.5x, provided there are no adverse changes
to the shareholding of Greenko or an increase in risk appetite.

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

  - Any shareholder changes that adversely affect the company's
risk profile, including its liquidity and refinancing,
risk-management policies or growth risk appetite

  - Significant adverse developments related to storage projects,
which may include rising construction risk or changes diluting the
economics of the investments

  - Prolonged deterioration of the receivables position

  - Operating EBITDA/net interest expense at below 1.8x for a
sustained period

  - Failure to adequately mitigate foreign-exchange risk

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

Sufficient Liquidity: Fitch expects Greenko's readily available
cash balance to be about INR38 billion at end-FY20. The majority of
cash will be at the unrestricted group and GSM, estimated at INR18
billion and INR9 billion, respectively. This is against
project-financed debt maturities of INR5 billion in FY21 (INR4
billion at Greenko and INR1 billion at GIL). The company further
benefits from solid financial access supported by its strong
shareholders.

REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF
RATING

The principal sources of information used in the analysis are
described in the Applicable Criteria.

PUBLIC RATINGS WITH CREDIT LINKAGE TO OTHER RATINGS

US-dollar bonds issued by GSM, GIL and GBV are rated based on the
consolidated profile of Greenko.

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).


HEERA RICE: CRISIL Keeps B+ Debt Ratings in Not Cooperating
-----------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Heera
Rice Mills (HRM) continues to remain in the 'Issuer Not
Cooperating' category.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           17.5       CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

   Proposed Fund-        0.22       CRISIL B+/Stable (ISSUER NOT
   Based Bank Limits                COOPERATING)

   Term Loan             1.28       CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

   Warehouse Receipts    7.50       CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with HRM for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 HRM, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on HRM is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of HRM
continues to be 'CRISIL B+/Stable Issuer Not Cooperating'.

HRM, set up in 2008, mills and sorts rice. It produces polished and
unpolished rice, and sells to exporters. The firm has milling
capacity of 12 tonne per hour (tph) and sorting capacity of 20 tph
in Assand, Haryana. It is managed by Mr. Satish Goel and his family
members.


HELIOS AND MATHESON: CRISIL Keeps D Debt Ratings in Not Cooperating
-------------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Helios
and Matheson Information Technology Limited (Helios) continues to
remain in the 'Issuer Not Cooperating' category.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           156        CRISIL D (ISSUER NOT
                                    COOPERATING)

   Long Term Loan         44        CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with Helios for obtaining
information through letters and emails dated January 14, 2020 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 Helios, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on Helios is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of Helios
continues to be 'CRISIL D Issuer Not Cooperating'.

The Helios group was set up by Mr. G K Muralikrishna and Mr. V
Ramachandran in 1991. It offers IT services, including application
and development, application validation, consulting and package
implementation, and related services.


HERO FINCORP: Moody's Cuts Issuer Ratings to Ba1, Outlook Neg.
--------------------------------------------------------------
Moody's Investors Service has downgraded Hero FinCorp Limited's
foreign and local currency issuer ratings to Ba1 from Baa3.

Its rating action concludes the review for downgrade initiated on
April 13, 2020.

The outlook has been revised to negative from ratings under
review.

RATINGS RATIONALE

The rapid and widening spread of the coronavirus outbreak,
deteriorating global economic outlook, falling oil prices, and
asset price declines are creating a severe and extensive credit
shock across many sectors, regions and markets. Moody's expects
Indian non-bank finance companies to be affected by the shock given
the extensive disruptions to India's economic activity.

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. Its action
reflects the impact on Hero FinCorp of the breadth and severity of
the shock, and the deterioration in credit quality it has
triggered.

Moody's expects Hero FinCorp's asset quality and profitability to
weaken as loan delinquencies and defaults increase, because
customers and businesses face a drop in earnings and cash flows due
to the economic disruptions caused by the coronavirus outbreak.
Hero FinCorp's unseasoned loan book also poses risks to asset
quality, given its limited operating track record and rapid growth
in the past few years.

While the Reserve Bank of India's forbearance for banks and NBFCs
-- whereby they can extend 6-month loan repayment moratoriums to
customers without affecting the asset classification -- will soften
some of the near-term strain on asset quality, the sharp slowdown
in India's economic growth will still weigh on asset quality.

Capital is a credit strength of Hero FinCorp, supported by capital
infusions from its shareholders. Moody's expects Hero FinCorp's
capital will remain largely stable as the company looks to conserve
liquidity and avoid expanding its balance sheet until economic
conditions normalize. Hero FinCorp has access to committed capital
from its shareholders that is callable by the company before the
end of the fiscal year ending March 2021.

Despite the tight liquidity conditions for Indian NBFCs, Hero
FinCorp has been able to refinance its maturing obligations. In the
past year, the company has reduced dependence on short-term
financing, however, its modest liquidity buffers have left it
exposed to volatile refinancing conditions. That said, these
weaknesses are somewhat offset by the company's strong links with
its parent, which helps it access banks and debt market investors
for funding.

The rating action also takes into account a very high degree of
support from its parent, Hero MotoCorp Limited.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

WHAT COULD CHANGE THE RATING UP

Given the negative outlook, an upgrade is unlikely in the near
term.

The outlook could return to stable if Hero FinCorp is able to
absorb the impact of the asset quality deterioration and higher
credit costs in the current fiscal year without materially
impacting its capital position, and Moody's expects the company's
profitability and asset quality to stabilize beyond fiscal year
ending March 2021.

WHAT COULD CHANGE THE RATING DOWN

Moody's could downgrade the ratings if there is a material
deterioration in the company's asset quality that pressures its
profitability, beyond what is incorporated in its rating action.
Moody's could also downgrade the ratings if Hero FinCorp's funding
and liquidity profiles deteriorate.

Any change to Moody's expectation of support from HMCL will also
pressure on Hero FinCorp's ratings.

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

Headquartered in New Delhi, Hero FinCorp Limited reported total
assets of INR 256 billiosn at March 31, 2020.


J.M.D. CORP: CRISIL Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of J.M.D.
Corporation of India Limited (JMD) continues to remain in the
'Issuer Not Cooperating' category.

                    Amount
   Facilities    (INR Crore)    Ratings
   ----------    -----------    -------
   Cash Credit        18.5      CRISIL D (ISSUER NOT COOPERATING)

   Proposed Long      11.5      CRISIL D (ISSUER NOT COOPERATING)
   Term Bank Loan
   Facility           

CRISIL has been consistently following up with JMD for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 JMD, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on JMD is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of JMD
continues to be 'CRISIL D Issuer Not Cooperating'.

JMD, set up in 2012, is a proprietorship concern of Mr. Ashwini
Agarwal. The firm trades in iron and steel products including
cold-rolled and hot-rolled coils, steel sheets, steel beams, steel
plates, thermo-mechanically treated bars, ingots, and billets. With
over a decade's experience, Mr. Agarwal oversees the firm's
operations.


J.M.D. LAXMI: CRISIL Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of J.M.D.
Laxmi Enterprises (JMD) continues to remain in the 'Issuer Not
Cooperating' category.

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

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

CRISIL has been consistently following up with JMD for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 JMD, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on JMD is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of JMD
continues to be 'CRISIL D Issuer Not Cooperating'.

JMD, set up in 2012, is a proprietorship concern of Mr. Ashwini
Agarwal. The firm trades in iron and steel products including
cold-rolled and hot-rolled coils, steel sheets, steel beams, steel
plates, thermo-mechanically treated bars, ingots, and billets. With
over a decade's experience, Mr. Agarwal oversees JMD's operations.


KASIM COAL: CRISIL Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Kasim
Coal and Logistics Private Limited (KCL) continues to remain in the
'Issuer Not Cooperating' category.

                    Amount
   Facilities    (INR Crore)    Ratings
   ----------    -----------    -------
   Cash Credit         4        CRISIL D (ISSUER NOT COOPERATING)
   Letter of Credit    5        CRISIL D (ISSUER NOT COOPERATING)

CRISIL has been consistently following up with KCL for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 KCL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on KCL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of KCL
continues to be 'CRISIL D/CRISIL D Issuer not cooperating'.

Incorporated in 2007, KCL trades in non-coking coal. The company's
operations are managed by Mr. Syed Abuthahir and Mr. Sikkanthar
Ali.


KATARE COTTON: CRISIL Keeps D Debt Ratings in Not Cooperating
-------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Katare
Cotton Waste Spinning Mills (KCWSM) continues to remain in the
'Issuer Not Cooperating' category.

                    Amount
   Facilities    (INR Crore)    Ratings
   ----------    -----------    -------
   Cash Credit         3        CRISIL D (ISSUER NOT COOPERATING)
   Term Loan           4.21     CRISIL D (ISSUER NOT COOPERATING)

CRISIL has been consistently following up with KCWSM for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 KCWSM, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on KCWSM is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of KCWSM
continues to be 'CRISIL D Issuer Not Cooperating'.

Set up in 1974 as a partnership firm by Mr. Kishore Katare and his
family members, KCWSM manufactures cotton yarn at its unit in
Solapur, Maharashtra, which has capacity of 5520 spindles.


KUFRI FUN: CRISIL Keeps D on INR12cr Debt in Not Cooperating
------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Kufri Fun
Campus Private Limited (KFCPL) continues to remain in the 'Issuer
Not Cooperating' category.

                    Amount
   Facilities    (INR Crore)    Ratings
   ----------    -----------    -------
   Term Loan          12        CRISIL D (ISSUER NOT COOPERATING)

CRISIL has been consistently following up with KFCPL for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 KFCPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on KFCPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of KFCPL
continues to be 'CRISIL D Issuer Not Cooperating'.

Shimla-based KFCPL was established and promoted by Mr. Baldev
Thakur. It runs an amusement park with amenities such as amusement
rides, adventure sports and a restaurant.


LA VILLA CAFE: Insolvency Resolution Process Case Summary
---------------------------------------------------------
Debtor: La Villa Cafe Private Limited
        Flat No. 502, 5th Flr
        Kapadia Apartment
        Swastik Chambers CHS Ltd
        A/39, S V Road
        Vile Parle (West), Mumbai
        Mumbai City
        MH 400056
        IN

Insolvency Commencement Date: July 18, 2020

Court: National Company Law Tribunal, Mumbai Bench

Estimated date of closure of
insolvency resolution process: January 14, 2021

Insolvency professional: Kairav Anil Trivedi

Interim Resolution
Professional:            Kairav Anil Trivedi
                         23 A 5th floor Jyoti Bldg
                         Barquatali Dargah Margh
                         Wadala (E)
                         Mumbai 400037
                         E-mail: kairavtrivedi2002@yahoo.co.in

Last date for
submission of claims:    July 31, 2020


MAKHWAN METAL: CRISIL Keeps D on INR20cr Debt in Not Cooperating
----------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Makhwan
Metal Trading Company Private Limited (MMTCPL) continues to remain
in the 'Issuer Not Cooperating' category.

                    Amount
   Facilities    (INR Crore)    Ratings
   ----------    -----------    -------
   Cash Credit         20       CRISIL D (ISSUER NOT COOPERATING)

CRISIL has been consistently following up with MMTCPL for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 MMTCPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on MMTCPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of MMTCPL
continues to be 'CRISIL D Issuer Not Cooperating'.

MMTCPL was incorporated in Thane, Maharashtra, in 2012 for trading
in steel products such as steel scraps, thermo-mechanically treated
bars, hot-rolled and cold-rolled coils, steel sheets, steel beams,
and steel plates. The promoters are Mr. Nipun Agarwal and Mr. Punit
Agarwal.


MARANGI PRIVATE: CRISIL Lowers Rating on INR4cr Loan to B+
----------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Marangi
Private Limited (MPL) to 'CRISIL B+/Stable Issuer Not Cooperating'
from 'CRISIL BB/Stable Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit             4        CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB/Stable ISSUER NOT
                                    COOPERATING')

   Proposed Long Term      0.15     CRISIL B+/Stable (ISSUER NOT
   Bank Loan Facility               COOPERATING; Revised from
                                    'CRISIL BB/Stable ISSUER NOT
                                    COOPERATING')

   Standby Letter          0.20     CRISIL B+/Stable (ISSUER NOT
   of Credit                        COOPERATING; Revised from
                                    'CRISIL BB/Stable ISSUER NOT
                                    COOPERATING')

   Term Loan               1.65     CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB/Stable ISSUER NOT
                                    COOPERATING')

CRISIL has been consistently following up with MPL for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 MPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on MPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of MPL
Revised to 'CRISIL B+/Stable Issuer Not Cooperating' from 'CRISIL
BB/Stable Issuer Not Cooperating'.

MPL was incorporated in 1980 as a closely held company. In 1983,
Mr. S P Bhoopal acquired Marangi Tea Estate in Golaghat, Assam,
from the UK-based Marangi Tea Company Ltd. The company was
reconstituted as a private limited entity and renamed in 2004. MPL
is engaged in tea plantation. Operations are managed by Mr. S P
Bhoopal and Mr. Gaurav Bhoopal.


MEENAKSHI AMMAL: CRISIL Lowers Rating on INR35cr Loan to B+
-----------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Meenakshi
Ammal Trust (MAT) to 'CRISIL B+/Stable Issuer Not Cooperating' from
'CRISIL BB+/Stable Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           35         CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB+/Stable ISSUER NOT
                                    COOPERATING')

   Term Loan             20         CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB+/Stable ISSUER NOT
                                    COOPERATING')

CRISIL has been consistently following up with MAT for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 MAT, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on MAT is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of MAT
Revised to 'CRISIL B+/Stable Issuer Not Cooperating' from 'CRISIL
BB+/Stable Issuer Not Cooperating'.

MAT was set up by Mr. A N Radhakrishnan in 1983 in Chennai. The
trust runs seventeen institutes including schools and colleges
offering graduate and post graduate courses in diverse streams like
engineering, commerce, management and medicine, all in Chennai.


MOHANA COTTON: CRISIL Keeps D Debt Ratings in Not Cooperating
-------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Mohana
Cotton Ginning Private Limited (MCG) continues to remain in the
'Issuer Not Cooperating' category.

                    Amount
   Facilities    (INR Crore)    Ratings
   ----------    -----------    -------
   Cash Credit        15        CRISIL D (ISSUER NOT COOPERATING)
   Term Loan        6.50        CRISIL D (ISSUER NOT COOPERATING)

CRISIL has been consistently following up with MCG for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 MCG, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on MCG is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of MCG
continues to be 'CRISIL D Issuer Not Cooperating'.

MCG was set up by Mr. A Subramanyam and his friends and relatives
in Guntur, Andhra Pradesh, in 2010. The company gins and presses
raw cotton, and trades in cotton lint.


NIMIT STEELS: CRISIL Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Nimit
Steels and Alloys Private Limited (NSAPL) continues to remain in
the 'Issuer Not Cooperating' category.

                    Amount
   Facilities     (INR Crore)   Ratings
   ----------     -----------   -------
   Cash Credit          40      CRISIL D (ISSUER NOT COOPERATING)
   Letter of Credit    110      CRISIL D (ISSUER NOT COOPERATING)

CRISIL has been consistently following up with NSAPL for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 NSAPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on NSAPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of NSAPL
continues to be 'CRISIL D/CRISIL D Issuer not cooperating'.

NSAPL was incorporated in April 2003 by Mr. Haresh Bhansali and his
son, Mr. Akshay Bhansali. It is engaged in trading of special alloy
steels wire rods, round bars and billets. The company is based out
of Mumbai (Maharashtra).


PARAMOUNT BLANKETS: CRISIL Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Paramount
Blankets Private Limited (PBPL) continues to remain in the 'Issuer
Not Cooperating' category.

                    Amount
   Facilities    (INR Crore)    Ratings
   ----------    -----------    -------
   Cash Credit        9.75      CRISIL D (ISSUER NOT COOPERATING)

   Long Term Loan      .11      CRISIL D (ISSUER NOT COOPERATING)

   Proposed Long
   Term Bank
   Loan Facility     5.75       CRISIL D (ISSUER NOT COOPERATING)

CRISIL has been consistently following up with PBPL for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 PBPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on PBPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of PBPL
continues to be 'CRISIL D Issuer Not Cooperating'.

PBPL was incorporated in 2004, promoted by Mr. Satbhushan Gupta.
The company manufactures polyester mink blankets, which it sells in
the domestic market. Its manufacturing unit is at Sonepat
(Haryana).


POWER WELFARE: CRISIL Keeps D on INR30cr Debt in Not Cooperating
----------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Power
Welfare Society (PWS) continues to remain in the 'Issuer Not
Cooperating' category.

                    Amount
   Facilities    (INR Crore)    Ratings
   ----------    -----------    -------
   Long Term Loan      30       CRISIL D (ISSUER NOT COOPERATING)

CRISIL has been consistently following up with PWS for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 PWS, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on PWS is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of PWS
continues to be 'CRISIL D Issuer Not Cooperating'.

PWS was set up in 2005 as a non-profit organisation under the
Andhra Pradesh Societies Act, 2001, to build an 853flat residential
complex for its members, at Gachibowli in Hyderabad.


PROCESS CONSTRUCTION: CRISIL Keeps D Debt Ratings in NonCooperating
-------------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Process
Construction & Technical Services Private Limited (PCTS) continues
to remain in the 'Issuer Not Cooperating' category.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Bank Guarantee         48        CRISIL D (ISSUER NOT
                                    COOPERATING)

   Cash Credit             5        CRISIL D (ISSUER NOT
                                    COOPERATING)

   Overdraft              15        CRISIL D (ISSUER NOT
                                    COOPERATING)

   Proposed Long Term     32        CRISIL D (ISSUER NOT
   Bank Loan Facility               COOPERATING)

   Term Loan              15        CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with PCTS for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 PCTS, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on PCTS is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of PCTS
continues to be 'CRISIL D/CRISIL D Issuer not cooperating'.

Set up in 2006 as a partnership, PCTS was reconstituted as a
private limited company in 2014-15. The company is promoted by Shri
K.P. Francis and is based in Navi Mumbai.

PCTS provides engineering and technical, onshore and offshore,
products and services mainly for the oil and gas industry. This
includes installation, hook-up, pre-commissioning and commissioning
assistance on major equipment, plants and machinery on offshore
platforms; and modification and revamping of offshore oil and gas
platforms, rigs and onshore facilities. Its major customers include
Larsen & Toubro Ltd and Sime Darby (a Malaysia-based multinational
conglomerate involved in plantations, property, industrial, motors
and energy & utilities).


RAJ GEMS: CRISIL Keeps D Debt Ratings in Not Cooperating
--------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Raj Gems
(RG) continues to remain in the 'Issuer Not Cooperating' category.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Export Packing
   Credit                14.05       CRISIL D (ISSUER NOT
                                     COOPERATING)

   Post Shipment
   Credit                25.95       CRISIL D (ISSUER NOT
                                     COOPERATING)

CRISIL has been consistently following up with RG for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 RG, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on RG is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of RG
continues to be 'CRISIL D Issuer Not Cooperating'.

Set up in 1978 as a partnership firm by Mr. Jayantilal B Shah, Ms
Prabhaben J Shah, and Mr. Himanshu J Shah, RG cuts and polishes
diamonds, and also trades in polished diamonds. The firm is
headquartered in Mumbai, and the processing facility is in Surat
(Gujarat).


RBA FINANCE: Ind-Ra Keeps BB- Bank Loan Rating in Non-Cooperating
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has maintained RBA Finance
Private Limited's bank loans' rating in the non-cooperating
category. The issuer did not participate in the rating exercise,
despite continuous requests and follow-ups by the agency.
Therefore, investors and other users are advised to take
appropriate caution while using the rating. The rating will
continue to appear as 'IND BB- (ISSUER NOT COOPERATING)' on the
agency's website.

The instrument-wise rating action is:

-- INR141 mil. Bank loans maintained in non-cooperating category
     with IND BB- (ISSUER NOT COOPERATING) rating.

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

COMPANY PROFILE

Formed in 1996, RBA Finance is a Reserve Bank of India-registered
non-bank finance company-asset finance company that finances
automobiles. Its head office is in Agra, Uttar Pradesh.


SAI CONSTRUCTION: CRISIL Lowers Rating on INR100cr Loan to B+
-------------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Sai
Construction Private Limited (SCPL) to 'CRISIL B+/Stable Issuer Not
Cooperating' from 'CRISIL BB+/Stable Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Lease Rental         100         CRISIL B+/Stable (ISSUER NOT
   Discounting Loan                 COOPERATING; Revised from
                                    'CRISIL BB+/Stable ISSUER NOT
                                    COOPERATING')

CRISIL has been consistently following up with SCPL for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of SCPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SCPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of SCPL
Revised to 'CRISIL B+/Stable Issuer Not Cooperating' from 'CRISIL
BB+/Stable Issuer Not Cooperating'.

Incorporated in 1987 and promoted by Mr. Balkrishnan Shanmugam
Chettiar, SCPL develops and leases commercial properties. It is
part of Pune based S Balan group and is currently operating Sai
Radhe, located in Pune, which is leased to various IT companies.
Phase I of the project (parking plus first four floors) is complete
and has leasable area of 3.12 lakh square feet (sq ft). Phase-II
(remaining four floors) with leasable area of about 2.5 lakh sq ft
is under construction.


SAINATHA RICE: CRISIL Lowers Ratings on INR10cr Loans to D
----------------------------------------------------------
CRISIL has revised the rating on the long term bank facilities of
Sri Sainatha Rice Industries (SSRI) to 'CRISIL D Issuer Not
Cooperating' from 'CRISIL B/Stable Issuer Not Cooperating'.

                   Amount
   Facilities   (INR Crore)    Ratings
   ----------   -----------    -------
   Cash Credit        6        CRISIL D (ISSUER NOT COOPERATING;
                               Downgraded from 'CRISIL B/Stable
                               ISSUER NOT COOPERATING')

   Long Term Loan     4        CRISIL D (ISSUER NOT COOPERATING;
                               Downgraded from 'CRISIL B/Stable
                               ISSUER NOT COOPERATING')

CRISIL has been consistently following up with SSRI for obtaining
information through letters and emails dated October 11, 2019 and
July 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 SSRI, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SSRI is
consistent with 'Scenario 1' outlined in the 'Framework for
Assessing Consistency of Information with CRISIL BB' category or
lower'.

Based on the last available information, the rating on the long
term bank facilities of SSRI has been downgraded to 'CRISIL D
Issuer Not Cooperating' from  'CRISIL B/Stable Issuer Not
Cooperating'.

The downgrade is due to the delays in debt servicing owing to poor
liquidity.

Established as a partnership firm in 2013 and based in Nizamabad
(Telangana), SSRI mills and processes paddy into rice, rice bran,
broken rice, and husk. The firm is promoted by Mr. Ravinder Kuna
and Mrs. Shashikala Kuna. The operations are managed by Mr. Naresh
Kuna.


SOUTH EAST U.P.: Insolvency Resolution Process Case Summary
-----------------------------------------------------------
Debtor: South East U.P. Power Transmission Company Limited
        Registered office:
        Premises No. 116
        Cyber Heights
        TC/G-2/2 and TC/G 5/5
        Vibhuti Khand
        Gomati Nagar Lucknow
        UP 226010

Insolvency Commencement Date: July 16, 2020

Court: National Company Law Tribunal, Allahabad Bench

Estimated date of closure of
insolvency resolution process: January 12, 2021
                               (180 days from commencement)

Insolvency professional: Mr. Rajesh Samson

Interim Resolution
Professional:            Mr. Rajesh Samson
                         Deloitte Touche Tohmatsu India LLP
                         7th Floor, Building 10 Tower B
                         DLF Cybercity Complex
                         DLF Phase II
                         Gurugram 122022
                         Haryana, India
                         E-mail: rajeshsamson@deloitte.com

                            - and -

                         Deloitte Touche Tohmatsu India LLP
                         22nd Floor, DLF Epitome
                         Building 5 Tower A
                         DLF Cybercity
                         DLF Phase III
                         Gurugram 122022
                         Haryana, India
                         E-mail: inseupip@deloitte.com

Last date for
submission of claims:    July 30, 2020


SUN ALTERNATE: Insolvency Resolution Process Case Summary
---------------------------------------------------------
Debtor: Sun Alternate Energy Private Limited

        Registered office:
        11, Ground Floor
        Community Centre
        Saket, Delhi 110017

        Corporate office:
        Unit No. 1106-1107
        11th Floor, Tower B
        SAS Tower, Sector 38
        Gurgaon 122001

Insolvency Commencement Date: July 22, 2020

Court: National Company Law Tribunal, New Delhi Bench

Estimated date of closure of
insolvency resolution process: January 18, 2021

Insolvency professional: Rajiv Bajaj

Interim Resolution
Professional:            Rajiv Bajaj
                         4/180, Ground Floor Backside
                         Subhash Nagar
                         New Delhi 110027
                         E-mail: rbajajip@gmail.com
                                 cirpsunalternate@gmail.com

Last date for
submission of claims:    August 5, 2020


T R SAWHNEY: CRISIL Lowers Rating on INR70cr Loan to B+
-------------------------------------------------------
CRISIL has revised the ratings on bank facilities of T R Sawhney
Motors Private Limited (TRSMPL) to 'CRISIL B+/Stable Issuer Not
Cooperating' from 'CRISIL BB+/Stable Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            50        CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB+/Stable ISSUER NOT
                                    COOPERATING')

   Inventory Funding      70        CRISIL B+/Stable (ISSUER NOT
   Facility                         COOPERATING; Revised from
                                    'CRISIL BB+/Stable ISSUER NOT
                                    COOPERATING')

CRISIL has been consistently following up with TRSMPL for obtaining
information through letters and emails dated December 31, 2019 and
June 17, 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 with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

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 TRSMPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on TRSMPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of TRSMPL
Revised to 'CRISIL B+/Stable Issuer Not Cooperating' from 'CRISIL
BB+/Stable Issuer Not Cooperating'.

For arriving at the rating, CRISIL has combined the business and
financial risk profiles of TRSMPL and TR Sawhney Automobiles Pvt
Ltd (TRSAPL). The two companies, together referred to as the TR
group, are in the same business and have common promoters.

The TR group, established in 1993, is based in Delhi and managed by
Mr. Rajeev Sawhney, Mr. Sanjeev Sawhney, and their sons. TRSMPL and
TRSAPL are authorised dealers of MSIL for NCR. The group commenced
operations from a single workshop in Delhi in 1993. Over the years,
it has expanded operations to 12 showrooms and 8 workshops.




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

1MDB: Goldman Sachs Reaches $3.9BB Settlement with Malaysia
-----------------------------------------------------------
Will Martin at Business Insider reports that Goldman Sachs has
agreed to a settlement of close to $4 billion with the Malaysian
government over the bank's involvement with 1MDB, which became one
of the biggest financial scandals in history.

The settlement was confirmed by Goldman Sachs as well as the
Malaysian Ministry of Finance.

"Today's settlement is an important step towards putting the 1MDB
matter behind us and will help enable the Malaysian government to
move forward with additional recovery efforts and to execute on its
economic priorities," Goldman Sachs said in a statement.

The settlement will see Goldman pay $3.9 billion to Malaysia,
consisting of $2.5 billion in cash and $1.4 billion in the form of
"a guarantee of a full recovery value of at least $1.4 billion in
assets that are traceable to the diverted proceeds from the three
bond transactions," Malaysia's government said, Business Insider
relays.

"This settlement represents assets that rightfully belong to the
Malaysian people," the report quotes Malaysia's finance minister,
Tengku Dato' Sri Zafrul Aziz, as saying. "We are confident that we
are securing more money from Goldman Sachs compared to previous
attempts, which were far below expectations."

Business Insider notes that the 1MDB scandal centers on 1 Malaysia
Development Berhad, a sovereign-wealth fund in the Southeast Asian
nation that raised about $12 billion, much of which was said to be
embezzled or laundered.

It has links to everything from the "Wolf of Wall Street" film to
the supermodel Miranda Kerr to President Donald Trump. It helped
lead to the ouster of Malaysian Prime Minister Najib Razak in
2018.

According to Business Insider, Goldman's involvement centers on
about $6.5 billion in bonds that the bank helped 1MDB raise.
Malaysian prosecutors accused Goldman of misleading investors over
the fundraising.

Goldman has consistently denied any wrongdoing, saying it was
misled by members of the country's government and 1MDB itself, the
report states.

"There are important lessons to be learned from this situation, and
we must be self-critical to ensure that we only improve from the
experience," Goldman Sachs said.

                             About 1MDB

Kuala Lumpur-based 1Malaysia Development Bhd (1MDB) operates as a
government agency. The Company offered financial assistance,
analysis, and advice through investors, corporations, and
consultants to startups and growth companies. 1MDB focused on
investments with strategic value and high multiplier effects on the
economy, particularly in energy, real estate, tourism, and
agribusiness.

As reported in the Troubled Company Reporter-Asia Pacific in June
2015, Reuters relayed that Singapore Police Force has frozen two
bank accounts to help with an investigation into 1MDB, which is
being probed by authorities in Malaysia for financial mismanagement
and graft.  Reuters said the freezing of the Singapore bank
accounts follows a similar move in Malaysia where a task force
investigating 1MDB said earlier in July that it had frozen half a
dozen bank accounts following a media report that nearly $700
million had been transferred to an account of Malaysia's Prime
Minister Najib Razak.

The Wall Street Journal reported in July 2015 that investigators
looking into 1MDB had traced close to US$700 million of deposits
moving through Falcon Bank in Singapore into personal bank accounts
in Malaysia belonging to Najib.

The TCR-AP, citing Bloomberg News, reported in November 2015, that
1MDB agreed to sell its power assets to China General Nuclear Power
Corp. for MYR9.83 billion (US$2.3 billion) as the state investment
company moved one step closer to winding down operations after its
mounting debt raised investor concern.

Bloomberg, citing President Arul Kanda in October 2015, related
that the company faced cash-flow problems after a planned initial
public offering of Edra faced delays amid unfavorable market
conditions.  The listing plan was later canceled as the company
opted for a sale of the assets, Bloomberg noted.

The TCR-AP, citing The Wall Street Journal, reported in April 2016,
that the company defaulted on a $1.75 billion bond issue,
triggering cross defaults on two other Islamic notes totaling
MYR7.4 billion ($1.9 billion).

Asian Nikkei Review reported in June 2016 that Malaysia has
replaced the board of 1MDB with treasury officials, paving the way
for the dissolution of the troubled state investment fund.


COMINTEL CORP: White Knight to Inject Railway Infra Business
------------------------------------------------------------
Lai Ying Yi at theedgemarkets.com reports that as part of its
regularisation plan, PN17 company Comintel Corp Bhd (Comcorp) has
roped in businessman Datuk Seri Dr S Subramaniam Pillai, who will
be injecting his railway infrastructure business into the company.

Suubramaniam is the founder and executive director of Dhaya Maju
Infrastructure (Asia) Sdn Bhd (DMIA), a joint venture partner in
the MYR4.47 billion Klang Valley Double Track 2 (KVDT2)
rehabilitation project.

In a bourse filing on July 22, Comcorp said it will raise MYR12.83
million by placing 171.12 million shares, representing 55% of its
enlarged share capital, at 7.5 sen per share to Subramaniam,
relates theedgemarkets.com.

In the meantime, Comcorp will undertake subcontract works in
respect of the upgrading of railway infrastructure and system at
KVDT2, for a contract sum of not less than MYR132.36 million, the
report says.

theedgemarkets.com relates that the job scope involves the
manufacture, supply, installation and commissioning of point
machines, as well as communication works and system enabling
works.

"The contract period for the proposed acceptance of contract shall
be for a period of three years from the date of issuance of the
notice to proceed from DMIA," Comcorp, as cited by
theedgemarkets.com, said.

Moving forward, Comcorp will cease its business relating to green
waste management and conversion of waste-to-energy, and will focus
on system integration and maintenance services as its core
business, the filing said, theedgemarkets.com relays.

As part of its regularisation plan, Comcorp will also dispose of
its shareholdings in a number of companies it is currently holding
for an aggregation cash consideration of MYR1 million, it added.

This involves selling its entire equity stake in Comintel Sdn Bhd,
Green Waste Management Sdn Bhd and Comintel System Technologies Sdn
Bhd, as well as selling its 80% equity interest in PT Intelcom
Indonesia and paring its 50.60% stake in Comintel Green
Technologies Sdn Bhd, theedgemarkets.com discloses.

theedgemarkets.com relates that Comcorp said the proposed disposal
is expected to result in a loss of MYR2.02 million but the proceeds
raised will be utilised to finance the day-to-day operations of the
company.

Meanwhile, Comcorp will also undergo a share capital reduction,
which will entail a reduction of its issued share capital to
MYR5.85 million from MYR95.75 million, the report adds.

"The credit arising from the proposed share capital reduction will
be utilised to set-off against the accumulated losses of the
company," the company said.

                        About Comintel Corp

Comintel Corporation Bhd, an investment holding company, engages in
manufacturing, and system integration and maintenance businesses in
Malaysia and internationally.

In January 2018, Comintel Corp Bhd slipped into the Practice Note
17 (PN 17) status after it underwent a major disposal exercise
which left it without a business.




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

HIN LEONG: Lim Family Seeks to Stop Law Firm From Taking Court Role
-------------------------------------------------------------------
Reuters reports that members of Singapore's Lim family have asked a
court to stop law firm Rajah & Tann Singapore LLP (R&T) from
working for court-appointed supervisors to two companies in the
Lim's embattled oil trading empire, Evan Lim Chee Meng said.

Lim and his sister, Lim Huey Ching, filed an application to
restrain R&T from acting for the judicial managers of fleet manager
Ocean Tankers Pte Ltd, Lim said in an email on July 24. A similar
application had been made in regard to oil trader Hin Leong Trading
Pte Ltd, he said, Reuters relays.

They filed application on behalf of Ocean Tankers and Hin Leong
Trading, according to Reuters. Lim and his sister are directors of
both companies.

Reuters relates that the actions are the latest in a series
stemming from the collapse earlier this year of Hin Leong and Ocean
Tankers, both of which were placed under court-appointed
supervisors.

Hin Leong is seeking to restructure billions of dollars of debt
after a crash in oil prices revealed a massive, years long fraud at
the once fabled trading house, according to Reuters.

"R&T sees no legal or factual basis for the position now taken by
the members of the Lim family purportedly acting as directors of
the two companies," the law firm said in a statement to Reuters.

EY, the court-appointed interim judicial manager (IJM) for Ocean
Tankers, and PwC, the IJM for Hin Leong, did not respond to
requests for comment, Reuters notes.

The Lims said in a court affidavit reviewed by Reuters that they
were told by R&T on May 12 that the law firm would act for Ocean
Tankers' IJM, EY. They said from the early 1990s, R&T had advised
and acted for their family and their group of companies.

R&T possessed confidential information and documents that were at
risk of being misused by the firm in its new role to benefit the
supervisors, against the family's interests, they said in the
affidavit, according to Reuters.

These included financial statements and management accounts,
shareholders' agreements, loan agreements and charter agreements
related to vessels owned by companies owned by the Lims, they
said.

In the affidavit, the Lims said R&T had "to date refused to step
down despite repeated requests to do so, which has necessitated
this application," Reuters relays.

The case will be heard on Aug. 11, Lim said.

R&T told Reuters by email it had never advised or acted for the Lim
family in connection with the financial distress of their
companies. It said it acted for Ocean Tankers and Hin Leong to file
for judicial management and the appointment of IJMs.

After the IJMs were appointed, R&T said, it agreed to continue
acting for the two companies and for the IJMs of both firms,
"subject to certain conditions which ensured that there would not
be a conflict of interest or abuse of confidential information."

                          About Hin Leong

Hin Leong Trading (Pte.) Ltd. provides petroleum products and
transportation services. The Company offers oil, lubricants,
grease, and diesel products, as well grants storage, terminalling,
trucking, and marine logistics services. Hin Leong Trading serves
customers globally.

Hin Leong Trading and shipping unit Ocean Tankers (Pte.) Ltd. filed
for court protection from creditors on April 17, 2020, as the
former struggles to repay debts of almost US$4 billion.

Hin Leong posted a positive equity of US$4.56 billion and net
profit of US$78 million in the period ended October 31, 2019,
according to the people, who asked not to be identified as the
matter is sensitive, Bloomberg News reported.

But Hin Leong told its creditors that total liabilities reached
US$4.05 billion as of early April, while assets were just US$714
million, leaving a hole of at least US$3.34 billion, according to
screenshots of the presentation to a group of bankers seen by
Bloomberg News.

The balance sheet of the company showed no equity at all as of
April 9, 2020, and warned that "figures obtained from the company
are subject to verification," Bloomberg News added.

On April 27, 2020, the Company was granted interim judicial
management by the Singapore High Court.  Goh Thien Phong and Chan
Kheng Tek of PricewaterhouseCoopers Advisory Services (PwC) have
been appointed as interim judicial managers. Ernst & Young (EY),
has been appointed interim judicial manager for Ocean Tankers.


HYFLUX LTD: Middle East Suitor Submits Binding Offer
----------------------------------------------------
Denise Wee at Bloomberg News reports that Utico FZC, the Middle
Eastern suitor of embattled Singaporean water treatment company
Hyflux Ltd., said it has submitted a binding offer to restructure
the group's debt.

Bloomberg relates that the move caps a prolonged negotiation for
one of the highest-profile restructurings in the city-state, after
Hyflux said last year that it had received a non-binding letter of
intent. The latest binding offer will remain open for acceptance
until July 31, according to a filing on July 24 with the Singapore
Exchange.

Hyflux's collapse has left some 34,000 retail investors in the
lurch, Bloomberg says. Adding to the complexity, Singapore
authorities said last month they started an investigation into
Hyflux and its current and former directors for suspected false and
misleading statements.

Under the terms of Utico's offer, debts owed to unsecured
creditors, bondholders and trade creditors will be exchanged into
Utico and Hyflux shares, Bloomberg discloses. Hyflux's perpetual
and preference shareholders will get cash, and Utico and Hyflux
shares in exchange for their debt, according to the filing cited by
Bloomberg.

                            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.




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

ASIANA AIRLINES: HDC Appears to be on Path to Scrap Asiana Deal
---------------------------------------------------------------
Yonhap News Agency reports that HDC Hyundai Development Co., a
major property developer, appears to be leaning toward scrapping
its plan to acquire Asiana Airlines Inc. as it demanded another
round of due diligence on the carrier amid the new coronavirus
outbreak, industry sources said July 27.

Yonhap relates that HDC said on July 26 it has sent a letter to
Kumho Industrial Co., which owns a 30.77 percent stake in Asiana
Airlines, to demand the additional due diligence on the country's
second-biggest carrier.

"In the letter, we proposed (additional) due diligence on Asiana
Airlines and its affiliates for 12 weeks from mid-August in order
to review the acquisition terms amid worsening business
environments due to the pandemic," a company official said over the
phone.

According to Yonhap, the proposal comes one month after HDC called
for renegotiations with Asiana creditors over the acquisition
terms, describing the ongoing virus crisis as a "never expected and
very negative factor" that will affect its planned takeover of the
debt-ridden carrier.

HDC then cited Asiana's snowballing debts as another reason for
renegotiations, noting that debts are "damaging the acquisition
value of the carrier." Asiana's debts jumped by KRW4.5 trillion
from July last year to March this year, Yonhap notes.

"We have requested review of the acquisition terms several times
but Kumho Industrial and Asiana Airlines have continued to demand
the deal's completion without listening to our request," the HDC
official, as cited by Yonhap, said.

In response to HDC's request, Asiana said it has made all-out
efforts to help complete the M&A deal and will continue to carry
out what is necessary to finalize the deal, Yonhap relates.

According to Yonhap, Asiana said Kumho Industrial on July 14 sent a
letter demanding HDC to complete the deal by the end of August. HDC
didn't confirm the notification.

Yonhap says the tit-for-tat between the two sides comes amid
reports that Kumho Industrial could notify HDC of the deal's
termination and that Asiana has formed a task force team in case of
the deal's collapse.

Kumho Industrial and Asiana called the reports "groundless," Yonhap
relays.

In December, the HDC-Mirae Asset Daewoo consortium signed the deal
to acquire the carrier from Kumho Industrial, a construction unit
of Kumho Asiana Group, as well as new Asiana shares to be issued
and Asiana's six affiliates, for KRW2.5 trillion (US$2.2 billion)
with a plan to complete the acquisition by June 27, Yonhap
recalls.

Yonhap notes that HDC has obtained all necessary approval from
regulators in the United States, China, Kazakhstan, Uzbekistan,
Turkey, Russia and South Korea.

But the major stumbling block to the deal for now appears to be the
COVID-19 pandemic's growing impact the airline industry.

Yonhap relates that Asiana has been hit hard by the pandemic. It
has suspended most of its flights on international routes as more
than 180 countries have strengthened entry restrictions amid virus
fears this year.

Asiana's net losses for the January-March quarter deepened to
KRW683.26 billion from KRW89.18 billion a year earlier, Yonhap
discloses. It is widely expected to report widened losses for the
second quarter next month.

To help Asiana stay afloat, the Korea Development Bank and the
Export-Import Bank of Korea plan to inject a combined KRW1.7
trillion into Asiana, according to Yonhap. Last year, the two state
lenders already extended a total of KRW1.6 trillion to the
carrier.

In its self-help measures, Asiana has had all of its 10,500
employees take unpaid leave for 15 days a month since April until
business circumstances normalize. Asiana's executives have also
agreed to forgo 60 percent of their wages, though no specific time
frame was given for how long the pay cuts will remain in effect.

As for the possibility of the deal's collapse, HDC said it "remains
committed to acquiring Asiana in order to help strengthen the
competitiveness of the local airline industry," Yonhap adds.

                       About Asiana Airlines

Headquartered in Osoe-Dong Kangseo-Gu, South Korea, Asiana Airlines
Incorporated is engaged in air transportation, engineering,
construction, facilities, electricity, ground handling, catering,
communication, logo products and e-business.  Asiana Airlines is a
unit of the Kumho Asiana Group, a South Korean conglomerate whose
business portfolio includes tire manufacturing and chemical
production.




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

BOND PRICING: For the Week July 20 to July 24, 2020
---------------------------------------------------
Issuer                   Coupon    Maturity    Currency   Price
------                   ------    --------    --------   -----


  AUSTRALIA
  ---------


CLEAN SEAS SEAFOOD LTD       8.00      11/18/22    AUD     1.04
CLIME CAPITAL LTD/FUND       6.25      11/30/21    AUD     0.98
KEYBRIDGE CAPITAL LTD        7.00      07/31/20    AUD     0.95
MIDWEST VANADIUM PTY LTD    13.25      02/15/18    USD     0.17
MIDWEST VANADIUM PTY LTD    13.25      02/15/18    USD     0.17
PALADIN ENERGY LTD          10.00      02/01/23    USD    60.63
PALADIN ENERGY LTD          10.00      02/01/23    USD    60.63
VIRGIN AUSTRALIA HOLDINGS    8.08      03/05/24    AUD    15.65
VIRGIN AUSTRALIA HOLDINGS    7.88      10/15/21    USD    15.42
VIRGIN AUSTRALIA HOLDINGS    8.25      05/30/23    AUD    15.23
VIRGIN AUSTRALIA HOLDINGS    7.88      10/15/21    USD    15.15
VIRGIN AUSTRALIA HOLDINGS    8.13      11/15/24    USD    15.00
VIRGIN AUSTRALIA HOLDINGS    8.13      11/15/24    USD    15.00
VIRGIN AUSTRALIA HOLDINGS    8.00      11/26/24    AUD     6.82


  CHINA
  -----

AKESU DISTRICT GREEN INDU    4.09      03/11/23    CNY    59.75
AKESU DISTRICT GREEN INDU    4.09      03/11/23    CNY    59.69
AKESU XINCHENG ASSET INVE    6.40      04/20/22    CNY    40.24
AKESU XINCHENG ASSET INVE    6.40      04/20/22    CNY    40.12
ALTAY PREFECTURE STATE-OW    4.85      01/22/23    CNY    60.70
ALTAY PREFECTURE STATE-OW    4.85      01/22/23    CNY    59.30
AN SHUN YU KUN REAL ESTAT    5.48      11/10/21    CNY    69.32
ANHUI FOREIGN ECONOMIC CO    7.30      07/13/21    CNY    70.01
ANHUI JIANGNAN INDUSTRIAL    4.76      07/08/23    CNY    59.01
ANHUI JIANGNAN INDUSTRIAL    4.76      07/08/23    CNY    58.93
ANHUI PINGTIANHU INVESTME    7.40      10/23/20    CNY    20.08
ANHUI PINGTIANHU INVESTME    7.40      10/23/20    CNY    19.60
ANHUI PROVINCE TONGLING I    7.30      05/13/21    CNY    27.18
ANHUI PROVINCE TONGLING I    7.30      05/13/21    CNY    20.32
ANJI COUNTY STATE-OWNED C    8.30      04/24/21    CNY    24.57
ANJI COUNTY STATE-OWNED C    8.30      04/24/21    CNY    20.65
ANJI NORTHWEST DEVELOPMEN    5.90      07/18/23    CNY    59.63
ANLU CONSTRUCTION DEVELOP    5.45      06/15/23    CNY    60.83
ANLU CONSTRUCTION DEVELOP    5.45      06/15/23    CNY    60.82
ANQING ECONOMIC&TECHNOLOG    4.09      03/09/23    CNY    60.02
ANQING ECONOMIC&TECHNOLOG    4.09      03/09/23    CNY    58.79
ANQING URBAN CONSTRUCTION    6.01      04/27/22    CNY    41.14
ANQING URBAN CONSTRUCTION    6.01      04/27/22    CNY    40.00
ANSHUN STATE-RUN ASSETS M    4.48      07/18/23    CNY    56.50
BAOJI HI-TECH INDUSTRIAL     8.25      04/21/21    CNY    20.38
BAOJI HI-TECH INDUSTRIAL     8.25      04/21/21    CNY    20.00
BAOTOU CITY SCIENCE EDUCA    6.48      03/25/22    CNY    45.50
BAOTOU CITY SCIENCE EDUCA    6.48      03/25/22    CNY    41.45
BAOYING CITY CONSTRUCTION    4.50      03/24/23    CNY    60.47
BAOYING CITY CONSTRUCTION    4.50      03/24/23    CNY    60.32
BAYAN ZHUOER HETAO WATER     8.54      03/31/22    CNY    31.30
BAZHONG STATE-OWNED ASSET    5.13      12/02/22    CNY    60.00
BAZHONG STATE-OWNED ASSET    5.13      12/02/22    CNY    58.54
BAZHONG STATE-OWNED ASSET    8.50      04/25/21    CNY    21.20
BAZHONG STATE-OWNED ASSET    8.50      04/25/21    CNY    20.70
BEIJING BIOMEDICINE INDUS    6.35      07/23/20    CNY    20.40
BEIJING BIOMEDICINE INDUS    6.35      07/23/20    CNY    19.99
BEIJING CAPITAL DEVELOPME    6.50      02/27/21    CNY    20.83
BEIJING CAPITAL DEVELOPME    6.50      02/27/21    CNY    20.39
BEIJING CAPITAL DEVELOPME    7.19      01/15/21    CNY    20.33
BEIJING CAPITAL DEVELOPME    7.19      01/15/21    CNY    20.00
BEIJING CHANGXIN CONSTRUC    6.74      04/22/21    CNY    20.49
BEIJING CHANGXIN CONSTRUC    6.74      04/22/21    CNY    20.41
BEIJING FUTURE SCIENCE PA    4.20      08/13/22    CNY    60.45
BEIJING GUCAI GROUP CO LT    6.60      09/06/20    CNY    23.68
BEIJING GUCAI GROUP CO LT    6.60      09/06/20    CNY    20.12
BEIJING HAIDIAN STATE-OWN    5.50      08/07/20    CNY    20.01
BEIJING HAIDIAN STATE-OWN    5.50      08/07/20    CNY    20.01
BEIJING JINGMEI GROUP CO     6.14      09/09/20    CNY    20.27
BEIJING JINGMEI GROUP CO     6.14      09/09/20    CNY    20.05
BEIJING JINLIYUAN STATE-O    7.00      10/28/20    CNY    20.11
BEIJING JINLIYUAN STATE-O    7.00      10/28/20    CNY    20.00
BEIJING SHIJINGSHAN STATE    6.08      08/18/21    CNY    43.87
BEIJING SHIJINGSHAN STATE    6.08      08/18/21    CNY    40.51
BEIJING XINCHENG INFRASTR    7.50      04/21/21    CNY    20.61
BEIJING XINGZHAN INVESTME    6.66      04/24/21    CNY    20.40
BEIJING XINGZHAN INVESTME    6.66      04/24/21    CNY    20.00
BEIPIAO CITY CONSTRUCTION    6.70      03/25/23    CNY    62.03
BEIPIAO CITY CONSTRUCTION    6.70      03/25/23    CNY    52.22
BENGBU GAOXIN INVESTMENT     8.70      04/17/21    CNY    20.44
BENGBU GAOXIN INVESTMENT     8.70      04/17/21    CNY    20.00
BENXI URBAN CONSTRUCTION     6.24      01/22/22    CNY    40.02
BENXI URBAN CONSTRUCTION     6.24      01/22/22    CNY    40.00
BIJIE CONSTRUCTION INVEST    6.50      01/28/22    CNY    45.65
BIJIE CONSTRUCTION INVEST    6.50      01/28/22    CNY    41.30
BIJIE KAIYUAN CONSTRUCTIO    7.78      02/25/21    CNY    30.00
BIJIE KAIYUAN CONSTRUCTIO    7.78      02/25/21    CNY    20.31
BINZHOU HI-TECH DEVELOPME    8.60      01/10/21    CNY    23.40
BINZHOU HI-TECH DEVELOPME    8.60      01/10/21    CNY    20.26
BINZHOU ZHONGHAI VENTURE     6.65      04/13/22    CNY    40.47
BINZHOU ZHONGHAI VENTURE     6.65      04/13/22    CNY    40.00
BORALA MONGOL AUTONOMOUS     5.77      08/26/22    CNY    60.42
BORALA MONGOL AUTONOMOUS     5.77      08/26/22    CNY    59.00
BORALA MONGOL AUTONOMOUS     7.18      08/09/20    CNY    20.02
BORALA MONGOL AUTONOMOUS     7.18      08/09/20    CNY    19.90
BOZHOU URBAN CONSTRUCTION    4.78      04/14/23    CNY    60.62
BOZHOU URBAN CONSTRUCTION    4.78      04/14/23    CNY    60.50
CANGNAN COUNTY STATE OWNE    5.58      11/11/22    CNY    68.00
CANGNAN COUNTY STATE OWNE    5.58      11/11/22    CNY    60.85
CEFC SHANGHAI INTERNATION    4.98      12/10/20    CNY    61.29
CEFC SHANGHAI INTERNATION    4.08      09/09/21    CNY    60.00
CHANG DE DING LI INDUSTRY    4.30      03/10/23    CNY    60.19
CHANG DE DING LI INDUSTRY    4.30      03/10/23    CNY    59.93
CHANGCHUN MODERN AGRICULT    7.00      07/25/21    CNY    40.21
CHANGDE ECONOMIC CONSTRUC    7.00      03/24/21    CNY    21.40
CHANGDE ECONOMIC CONSTRUC    7.00      03/24/21    CNY    20.47
CHANGDE URBAN CONSTRUCTIO    3.59      01/12/23    CNY    60.00
CHANGDE URBAN CONSTRUCTIO    3.59      01/12/23    CNY    59.87
CHANGLE COUNTY NEWTOWN DE    5.18      12/16/22    CNY    62.03
CHANGLE COUNTY NEWTOWN DE    5.18      12/16/22    CNY    59.78
CHANGSHA COUNTY XINGCHENG    7.90      03/25/22    CNY    41.86
CHANGSHA COUNTY XINGCHENG    7.90      03/25/22    CNY    41.80
CHANGSHA ECONOMIC & TECHN    8.45      04/13/22    CNY    30.93
CHANGSHA FURONG CITY DEVE    3.88      01/26/23    CNY    60.67
CHANGSHA FURONG CITY DEVE    3.88      01/26/23    CNY    60.30
CHANGSHA METRO GROUP CO L    5.97      04/03/25    CNY    72.69
CHANGSHA METRO GROUP CO L    5.40      07/14/25    CNY    71.74
CHANGSHA METRO GROUP CO L    5.40      07/14/25    CNY    70.00
CHANGSHA METRO GROUP CO L    6.20      04/23/23    CNY    46.65
CHANGSHA TIANXIN CITY CON    4.20      11/06/22    CNY    60.10
CHANGSHA TIANXIN CITY CON    4.20      11/06/22    CNY    59.96
CHANGSHA YUHUA URBAN CONS    3.80      01/28/23    CNY    60.17
CHANGSHA YUHUA URBAN CONS    3.80      01/28/23    CNY    59.77
CHANGSHA YUHUA URBAN CONS    7.17      04/18/21    CNY    24.00
CHANGSHA YUHUA URBAN CONS    7.17      04/18/21    CNY    20.55
CHANGSHU BINJIANG URBAN C    6.39      09/11/21    CNY    40.60
CHANGSHU BINJIANG URBAN C    6.39      09/11/21    CNY    40.00
CHANGSHU DONGNAN ASSET IN    6.53      03/26/22    CNY    47.32
CHANGSHU DONGNAN ASSET IN    6.53      03/26/22    CNY    41.10
CHANGSHU TRANSPORTATION S    7.00      04/29/21    CNY    27.00
CHANGSHU TRANSPORTATION S    7.00      04/29/21    CNY    20.57
CHANGXING COMMUNICATIONS     7.88      04/30/21    CNY    30.30
CHANGXING COMMUNICATIONS     6.75      06/16/21    CNY    20.70
CHANGXING COMMUNICATIONS     7.88      04/30/21    CNY    20.55
CHANGXING COMMUNICATIONS     6.75      06/16/21    CNY    19.94
CHANGXING URBAN CONSTRUCT    6.00      12/03/21    CNY    40.45
CHANGXING URBAN CONSTRUCT    6.00      12/03/21    CNY    39.00
CHANGZHOU BINHU CONSTRUCT    8.04      12/12/20    CNY    20.34
CHANGZHOU BINHU CONSTRUCT    8.04      12/12/20    CNY    20.30
CHANGZHOU PUBLIC HOUSING     6.64      07/02/21    CNY    20.20
CHANGZHOU PUBLIC HOUSING     6.64      07/02/21    CNY    20.19
CHANGZHOU TIANNING CONSTR    6.48      02/12/22    CNY    41.01
CHANGZHOU TIANNING CONSTR    6.48      02/12/22    CNY    40.00
CHAOHU URBAN TOWN CONSTRU    6.50      04/30/22    CNY    42.10
CHAOHU URBAN TOWN CONSTRU    6.50      04/30/22    CNY    41.16
CHENGDU ECONOMIC & TECHNO    6.90      05/30/21    CNY    26.00
CHENGDU ECONOMIC & TECHNO    6.90      05/30/21    CNY    20.49
CHENGDU GARDEN WATER CITY    6.15      05/03/23    CNY    60.42
CHENGDU GARDEN WATER CITY    6.15      05/03/23    CNY    60.04
CHENGDU KONGGANG CITY CON    6.92      07/30/20    CNY    25.05
CHENGDU KONGGANG CITY CON    6.92      07/30/20    CNY    25.00
CHENGDU LONGBO INVESTMENT    8.10      04/24/21    CNY    20.46
CHENGDU PIDU DISTRICT STA    6.95      04/01/22    CNY    48.83
CHENGDU PIDU DISTRICT STA    6.95      04/01/22    CNY    41.44
CHENGDU PIDU DISTRICT STA    7.25      10/15/20    CNY    20.11
CHENGDU SHUZHOU CITY CONS    6.58      05/26/22    CNY    40.74
CHENGDU SHUZHOU CITY CONS    6.58      05/26/22    CNY    39.30
CHENGDU XINGCHENGJIAN IND    6.00      03/20/22    CNY    40.92
CHENGDU XINGCHENGJIAN IND    6.00      03/20/22    CNY    40.00
CHENGDU XINKAIYUAN URBAN     5.29      04/27/23    CNY    59.92
CHENGDU XINKAIYUAN URBAN     5.29      04/27/23    CNY    59.58
CHENGDU XINKAIYUAN URBAN     7.43      08/12/21    CNY    41.00
CHENGDU XINKAIYUAN URBAN     7.43      08/12/21    CNY    40.60
CHENGFA INVESTMENT GROUP     6.87      04/30/21    CNY    20.52
CHENZHOU BAIFU INVESTMENT    4.96      03/22/26    CNY    73.33
CHENZHOU BAIFU INVESTMENT    6.54      08/28/21    CNY    40.25
CHENZHOU BAIFU INVESTMENT    6.54      08/28/21    CNY    40.12
CHENZHOU FUCHENG HIGH TEC    4.73      01/22/23    CNY    59.82
CHENZHOU FUCHENG HIGH TEC    4.73      01/22/23    CNY    59.80
CHENZHOU INDUSTRY INVESTM    6.45      01/23/22    CNY    40.36
CHENZHOU XINTIAN INVESTME    5.38      03/08/26    CNY    73.87
CHENZHOU XINTIAN INVESTME    5.38      03/08/26    CNY    73.12
CHENZHOU XINTIAN INVESTME    6.15      04/24/22    CNY    39.78
CHINA MINSHENG INVESTMENT    7.00      12/26/20    CNY    36.65
CHINA OCEANWIDE HOLDINGS     8.60      09/21/21    CNY    68.00
CHINA OCEANWIDE HOLDINGS     8.90      12/13/21    CNY    63.00
CHINA SECURITY CO LTD        4.45      11/11/19    CNY    31.00
CHINA YIXING ENVIRONMENT     7.10      10/18/20    CNY    20.40
CHINA YIXING ENVIRONMENT     7.10      10/18/20    CNY    20.14
CHONGQIN BAIYAN INVESTMEN    5.75      05/03/23    CNY    61.50
CHONGQIN BAIYAN INVESTMEN    5.75      05/03/23    CNY    60.47
CHONGQIN XINLIANG INVESTM    4.76      08/26/23    CNY    56.48
CHONGQIN XINLIANG INVESTM    4.76      08/26/23    CNY    56.41
CHONGQING BANAN ECONOMIC     7.00      08/20/21    CNY    41.10
CHONGQING BANAN ECONOMIC     6.17      03/13/22    CNY    41.00
CHONGQING BANAN ECONOMIC     6.17      03/13/22    CNY    40.77
CHONGQING BANAN ECONOMIC     7.00      08/20/21    CNY    40.73
CHONGQING BEICHENG CONSTR    7.30      10/16/20    CNY    20.30
CHONGQING BEICHENG CONSTR    7.30      10/16/20    CNY    20.15
CHONGQING BISHAN DISTRICT    4.93      03/29/23    CNY    60.52
CHONGQING BISHAN DISTRICT    4.93      03/29/23    CNY    60.16
CHONGQING CHANGSHOU ECO&T    7.20      07/15/21    CNY    20.34
CHONGQING CHANGSHOU ECO&T    7.20      07/15/21    CNY    20.00
CHONGQING CHANGSHOU ECO-T    7.10      06/19/21    CNY    20.29
CHONGQING CHANGSHOU ECO-T    7.10      06/19/21    CNY    20.00
CHONGQING DASUN ASSET DEA    6.98      09/10/20    CNY    20.07
CHONGQING DAZU INDUSTRIAL    6.30      04/28/22    CNY    40.38
CHONGQING DAZU INDUSTRIAL    6.30      04/28/22    CNY    40.00
CHONGQING ECO&TECH DEVELO    3.95      04/13/23    CNY    60.80
CHONGQING ECO&TECH DEVELO    3.95      04/13/23    CNY    60.13
CHONGQING FULING DISTRICT    7.89      03/20/21    CNY    27.33
CHONGQING FULING DISTRICT    7.89      03/20/21    CNY    20.42
CHONGQING FULING TRAFFIC     6.68      02/03/22    CNY    40.66
CHONGQING FULING TRAFFIC     6.68      02/03/22    CNY    40.00
CHONGQING GAOXIN ZONE DEV    7.80      04/25/21    CNY    30.80
CHONGQING GAOXIN ZONE DEV    7.80      04/25/21    CNY    20.58
CHONGQING GARDENING INDUS    8.45      06/03/21    CNY    20.63
CHONGQING GARDENING INDUS    8.45      06/03/21    CNY    20.00
CHONGQING HAOJIANG CONSTR    8.05      03/06/21    CNY    20.24
CHONGQING HAOJIANG CONSTR    7.99      11/22/20    CNY    20.16
CHONGQING HAOJIANG CONSTR    8.05      03/06/21    CNY    20.00
CHONGQING HAOJIANG CONSTR    7.99      11/22/20    CNY    20.00
CHONGQING HECHUAN CITY CO    7.30      07/07/21    CNY    21.00
CHONGQING HECHUAN CITY CO    7.30      07/07/21    CNY    20.70
CHONGQING INTERNATIONAL L    7.08      10/18/20    CNY    20.29
CHONGQING INTERNATIONAL L    7.08      10/18/20    CNY    20.13
CHONGQING JIANGBEIZUI CEN    6.50      07/21/21    CNY    20.51
CHONGQING JIN TONG INDUST    4.44      11/16/23    CNY    74.76
CHONGQING JINYUN ASSET MA    4.50      12/31/22    CNY    60.04
CHONGQING JINYUN ASSET MA    4.50      12/31/22    CNY    60.01
CHONGQING JIULONG HI-TECH    6.60      08/19/21    CNY    40.55
CHONGQING KAIQIAN INVESTM    4.64      03/21/23    CNY    58.88
CHONGQING KAIQIAN INVESTM    4.64      03/21/23    CNY    58.76
CHONGQING LAND PROPERTIES    3.36      03/21/23    CNY    60.57
CHONGQING LAND PROPERTIES    3.36      03/21/23    CNY    60.10
CHONGQING LAND PROPERTIES    6.30      08/22/20    CNY    20.06
CHONGQING LAND PROPERTIES    6.30      08/22/20    CNY    20.00
CHONGQING LIANGJIANG NEW     3.10      08/05/21    CNY    70.10
CHONGQING LIANGJIANG NEW     5.88      09/16/21    CNY    40.73
CHONGQING LIANGJIANG NEW     3.60      04/19/21    CNY    40.60
CHONGQING LIANGJIANG NEW     3.60      04/19/21    CNY    40.14
CHONGQING LIANGJIANG NEW     3.17      01/13/21    CNY    40.05
CHONGQING LIANGJIANG NEW     3.17      01/13/21    CNY    40.00
CHONGQING LIANGJIANG NEW     6.70      04/25/21    CNY    20.56
CHONGQING MAIRUI URBAN CO    4.95      04/21/23    CNY    60.99
CHONGQING MAIRUI URBAN CO    4.95      04/21/23    CNY    60.44
CHONGQING NANCHUAN CITY C    4.20      07/11/23    CNY    59.90
CHONGQING NANCHUAN CITY C    4.20      07/11/23    CNY    59.23
CHONGQING QIANJIANG CITY     8.00      03/21/21    CNY    21.70
CHONGQING QIANJIANG CITY     8.00      03/21/21    CNY    20.25
CHONGQING SHUANGFU CONSTR    7.49      10/23/20    CNY    20.15
CHONGQING SHUANGFU CONSTR    7.49      10/23/20    CNY    20.00
CHONGQING SHUANGQIAO ECON    5.99      11/19/21    CNY    46.25
CHONGQING SHUANGQIAO ECON    5.99      11/19/21    CNY    39.69
CHONGQING TAX FREE PORT A    7.50      04/24/21    CNY    21.70
CHONGQING TAX FREE PORT A    7.50      04/24/21    CNY    20.47
CHONGQING TEA GARDEN INDU    7.70      05/20/21    CNY    20.34
CHONGQING TONGLIANG JINLO    6.59      04/08/22    CNY    40.67
CHONGQING TONGLIANG JINLO    6.59      04/08/22    CNY    40.00
CHONGQING TONGNAN DISTRIC    4.99      12/31/22    CNY    60.76
CHONGQING TONGNAN DISTRIC    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    40.22
CHONGQING WANSHENG ECO &     8.19      04/08/21    CNY    23.90
CHONGQING WANSHENG ECO &     8.19      04/08/21    CNY    20.33
CHONGQING WANSHENG ECO DE    5.40      11/18/21    CNY    69.73
CHONGQING WANZHOU SANXIA     4.95      08/25/22    CNY    60.66
CHONGQING XINGRONG HOLDIN    4.86      03/31/23    CNY    58.79
CHONGQING XINGRONG HOLDIN    4.86      03/31/23    CNY    58.50
CHONGQING XIYONG MICRO-EL    6.58      07/25/21    CNY    42.33
CHONGQING XIYONG MICRO-EL    6.58      07/25/21    CNY    40.63
CHONGQING YONGCHUAN HUITO    7.28      05/30/21    CNY    21.60
CHONGQING YONGCHUAN HUITO    7.28      05/30/21    CNY    20.65
CHONGQING YUELAI INVESTME    6.09      04/29/22    CNY    41.08
CHONGQING YUELAI INVESTME    6.09      04/29/22    CNY    40.00
CHONGQING YUNAN ASSET MAN    7.05      06/17/21    CNY    20.76
CHONGQING YUNAN ASSET MAN    7.05      06/17/21    CNY    20.39
CHONGQING YUZHONG STATE-O    7.25      02/26/21    CNY    20.57
CHONGQING YUZHONG STATE-O    7.25      02/26/21    CNY    20.38
CHUN'AN XINANJIANG DEVELO    6.10      03/11/22    CNY    44.55
CHUN'AN XINANJIANG DEVELO    6.10      03/11/22    CNY    40.85
CHUZHOU CITY CONSTRUCTION    6.40      08/22/21    CNY    40.71
CITIC GUOAN GROUP CORP       4.49      03/08/21    CNY    18.25
CITIC GUOAN GROUP CORP       4.23      12/15/20    CNY    18.25
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 IN    6.18      08/18/21    CNY    48.80
CIXI CITY CONSTRUCTION IN    6.18      08/18/21    CNY    40.59
DALI ECONOMIC DEVELOPMENT    8.30      12/11/20    CNY    20.60
DALI ECONOMIC DEVELOPMENT    8.30      12/11/20    CNY    20.27
DALI ECONOMIC DEVELOPMENT    7.90      03/04/21    CNY    20.26
DALI ECONOMIC DEVELOPMENT    7.90      03/04/21    CNY    20.00
DALI HAIDONG DEVELOPMENT     6.01      01/25/23    CNY    61.26
DALI HAIDONG DEVELOPMENT     6.01      01/25/23    CNY    59.82
DALIAN PULANDIAN CONSTRUC    3.80      01/25/23    CNY    58.42
DALIAN RONGDA INVESTMENT     5.69      12/05/21    CNY    40.53
DALIAN RONGQIANG INVESTME    7.92      04/14/21    CNY    20.35
DALIAN RONGQIANG INVESTME    7.92      04/14/21    CNY    20.35
DALIAN RONGQIANG INVESTME    8.60      01/20/21    CNY    20.30
DALIAN RONGQIANG INVESTME    8.60      01/20/21    CNY    20.30
DALIAN SHITAI CITY CONSTR    4.50      02/01/23    CNY    58.70
DALIAN SHITAI CITY CONSTR    4.50      02/01/23    CNY    57.73
DALIAN SHITAI CITY CONSTR    7.09      02/20/21    CNY    20.07
DANDONG PORT GROUP CO LTD    5.50      01/27/21    CNY    59.00
DANGTU COUNTY CONSTRUCTIO    5.38      08/10/22    CNY    61.40
DANGTU COUNTY CONSTRUCTIO    5.38      08/10/22    CNY    60.61
DANGYANG XINYUAN INVESTME    4.97      03/29/23    CNY    59.81
DANGYANG XINYUAN INVESTME    4.97      03/29/23    CNY    59.37
DANGYANG XINYUAN INVESTME    7.99      05/23/21    CNY    20.00
DANYANG HI-TECH INDUSTRY     6.40      04/24/22    CNY    40.00
DANYANG HI-TECH INDUSTRY     6.40      04/24/22    CNY    39.71
DANYANG INVESTMENT GROUP     3.99      01/25/23    CNY    59.51
DANYANG INVESTMENT GROUP     6.90      10/23/20    CNY    20.14
DATONG ECONOMIC CONSTRUCT    4.49      10/22/22    CNY    60.28
DAWA COUNTY CITY CONSTRUC    6.29      06/12/22    CNY    39.30
DAWA COUNTY CITY CONSTRUC    6.29      06/12/22    CNY    38.92
DAYE ZHENHENG CITY DEVELO    4.50      03/28/23    CNY    59.06
DAYE ZHENHENG CITY DEVELO    4.50      03/28/23    CNY    58.92
DAYE ZHENHENG CITY DEVELO    7.30      03/03/21    CNY    23.53
DAYE ZHENHENG CITY DEVELO    7.30      03/03/21    CNY    20.33
DAYE ZHENHENG CITY DEVELO    7.95      11/27/20    CNY    20.26
DAZHOU DEVELOPMENT HOLDIN    5.10      11/27/22    CNY    60.45
DAZHOU DEVELOPMENT HOLDIN    5.10      11/27/22    CNY    60.00
DAZHOU DEVELOPMENT HOLDIN    6.55      01/14/22    CNY    40.83
DAZHOU DEVELOPMENT HOLDIN    6.55      01/14/22    CNY    40.00
DEHONGZHOU HONGKANG INVES    6.68      01/23/22    CNY    40.33
DEHONGZHOU HONGKANG INVES    6.68      01/23/22    CNY    40.33
DEXING INVESTMENT HOLDING    5.99      03/21/23    CNY    60.58
DEXING INVESTMENT HOLDING    5.99      03/21/23    CNY    59.78
DEYANG ECONOMIC DEVELOPME    7.90      04/28/21    CNY    28.26
DEYANG ECONOMIC DEVELOPME    7.90      04/28/21    CNY    20.34
DONGLING GROUP INC CO        8.00      07/14/22    CNY    41.26
DONGLING GROUP INC CO        8.00      07/14/22    CNY    40.00
DONGTAI UBAN CONSTRUCTION    7.58      04/23/21    CNY    28.48
DONGTAI UBAN CONSTRUCTION    7.58      04/23/21    CNY    20.52
DONGTAI UBAN CONSTRUCTION    8.65      01/13/21    CNY    20.35
DONGYING CITY URBAN ASSET    5.57      03/31/22    CNY    41.58
DONGYING CITY URBAN ASSET    5.57      03/31/22    CNY    40.61
DONGZHI COUNTY CITY OPERA    4.88      06/20/23    CNY    60.31
DONGZHI COUNTY CITY OPERA    4.88      06/20/23    CNY    60.27
DUJIANGYAN XINGYAN INVEST    6.10      03/12/22    CNY    39.46
DUNYUN STATE-OWNED ASSETS    6.60      12/28/22    CNY    59.10
EASTAR HOLDINGS GROUP CO     7.30      10/31/20    CNY    63.00
ENSHI URBAN CONSTRUCTION     7.50      06/03/21    CNY    27.54
ENSHI URBAN CONSTRUCTION     7.50      06/03/21    CNY    20.52
EZHOU CITY CONSTRUCTION I    6.68      09/19/21    CNY    41.00
EZHOU CITY CONSTRUCTION I    6.68      09/19/21    CNY    40.22
EZHOU CITY CONSTRUCTION I    7.76      05/15/21    CNY    26.50
EZHOU CITY CONSTRUCTION I    7.76      05/15/21    CNY    20.65
FANGCHENGGANG GANGFA HOLD    8.09      04/16/21    CNY    22.00
FANGCHENGGANG GANGFA HOLD    8.09      04/16/21    CNY    20.44
FEICHENG CITY ASSETS MANA    4.04      03/23/23    CNY    59.48
FEICHENG CITY ASSETS MANA    4.04      03/23/23    CNY    59.42
FEIXI COUNTY URBAN & RURA    4.45      06/03/23    CNY    61.24
FEIXI COUNTY URBAN & RURA    4.45      06/03/23    CNY    60.42
FENG COUNTY ECONOMIC DEVE    5.18      06/21/23    CNY    59.40
FENG COUNTY ECONOMIC DEVE    5.18      06/21/23    CNY    58.77
FENGCHENG CITY CONSTRUCTI    6.49      02/10/22    CNY    44.49
FENGCHENG CITY CONSTRUCTI    6.49      02/10/22    CNY    41.02
FENGCHENG CITY MODERN IND    5.76      12/17/22    CNY    60.00
FENGCHENG CITY MODERN IND    5.76      12/17/22    CNY    59.35
FENGXIAN URBAN INVESTMENT    4.23      07/13/21    CNY    54.79
FENGXIAN URBAN INVESTMENT    6.48      03/20/22    CNY    40.33
FENGXIAN URBAN INVESTMENT    6.48      03/20/22    CNY    40.00
FENGXIAN URBAN INVESTMENT    4.23      07/13/21    CNY    19.73
FUGU COUNTY STATE-OWNED A    8.69      12/16/20    CNY    20.24
FUGUINIAO CO LTD             6.30      04/22/20    CNY    13.00
FUJIAN JINJIANG INDUSTRIA    7.08      06/27/21    CNY    20.65
FUJIAN JINJIANG INDUSTRIA    7.08      06/27/21    CNY    20.55
FUJIAN PROVINCE LIANJIANG    6.29      04/30/22    CNY    40.53
FUJIAN PROVINCE LIANJIANG    6.29      04/30/22    CNY    40.00
FUJIAN ZHANGLONG GROUP CO    4.99      08/07/22    CNY    60.74
FUJIAN ZHANGLONG GROUP CO    4.99      08/07/22    CNY    60.00
FUNING URBAN INVESTMENT D    7.19      08/15/21    CNY    41.15
FUNING URBAN INVESTMENT D    7.19      08/15/21    CNY    40.50
FUQING CITY STATE-OWNED A    5.94      11/26/22    CNY    56.18
FUQING CITY STATE-OWNED A    6.66      03/01/21    CNY    25.18
FUXIN INFRASTRUCTURE CONS    6.18      03/18/22    CNY    40.39
FUXIN INFRASTRUCTURE CONS    6.18      03/18/22    CNY    40.03
FUZHOU CHANGLE DISTRICT S    4.50      04/11/23    CNY    59.95
FUZHOU CHANGLE DISTRICT S    4.50      04/11/23    CNY    58.80
FUZHOU LINCHUAN URBAN CON    5.68      07/05/23    CNY    61.34
FUZHOU LINCHUAN URBAN CON    5.68      07/05/23    CNY    61.04
FUZHOU URBAN AND RURAL CO    5.48      01/26/22    CNY    40.67
FUZHOU URBAN AND RURAL CO    4.89      07/08/22    CNY    40.57
FUZHOU URBAN AND RURAL CO    4.89      07/08/22    CNY    40.55
FUZHOU URBAN AND RURAL CO    5.48      01/26/22    CNY    40.00
GANZHOU CITY DEVELOPMENT     5.50      06/16/22    CNY    40.93
GANZHOU CITY DEVELOPMENT     5.50      06/16/22    CNY    40.00
GANZHOU DEVELOPMENT ZONE     7.43      02/19/21    CNY    20.27
GANZHOU DEVELOPMENT ZONE     7.43      02/19/21    CNY    19.00
GAOMI STATE-OWNED ASSETS     4.69      01/26/23    CNY    60.68
GAOMI STATE-OWNED ASSETS     4.69      01/26/23    CNY    60.08
GAOYOU CITY CONSTRUCTION     5.48      09/15/22    CNY    60.78
GAOYOU CITY CONSTRUCTION     5.48      09/15/22    CNY    60.00
GOLMUD INVESTMENT HOLDING    8.70      12/30/20    CNY    20.26
GOLMUD INVESTMENT HOLDING    8.70      12/30/20    CNY    20.00
GONGQINGCHENG FINANCIAL M    5.85      03/25/23    CNY    61.13
GONGQINGCHENG FINANCIAL M    5.85      03/25/23    CNY    58.93
GOOCOO INVESTMENT CO LTD     8.00      02/01/21    CNY    50.00
GUANGAN DEVELOPMENT AND C    6.39      03/24/22    CNY    44.00
GUANGAN DEVELOPMENT AND C    6.39      03/24/22    CNY    41.21
GUANGAN ECONOMIC & TECHNO    5.16      04/14/23    CNY    59.56
GUANGAN ECONOMIC & TECHNO    5.16      04/14/23    CNY    59.35
GUANGAN ECONOMIC & TECHNO    7.10      09/22/21    CNY    40.34
GUANGAN ECONOMIC & TECHNO    7.10      09/22/21    CNY    40.34
GUANGDONG HUIZHOU COMMUNI    4.16      05/17/23    CNY    60.30
GUANGDONG HUIZHOU COMMUNI    4.16      05/17/23    CNY    60.06
GUANGXI BAISE DEVELOPMENT    7.27      06/20/21    CNY    20.10
GUANGXI BAISE DEVELOPMENT    7.27      06/20/21    CNY    20.00
GUANGXI LAIBIN INDUSTRIAL    5.97      11/26/21    CNY    40.59
GUANGXI LAIBIN INDUSTRIAL    5.97      11/26/21    CNY    40.00
GUANGXI LIUZHOU DONGCHENG    7.40      10/29/20    CNY    21.00
GUANGXI LIUZHOU DONGCHENG    7.40      10/29/20    CNY    20.16
GUANGXI QINZHOU LINHAI IN    7.68      02/20/21    CNY    24.77
GUANGXI QINZHOU LINHAI IN    7.68      02/20/21    CNY    20.25
GUANGXI URBAN CONSTRUCTIO    7.59      04/14/21    CNY    23.00
GUANGXI URBAN CONSTRUCTIO    7.59      04/14/21    CNY    20.45
GUANGYUAN INVESTMENT HOLD    7.30      04/22/21    CNY    21.15
GUANGYUAN INVESTMENT HOLD    7.30      04/22/21    CNY    20.44
GUANGYUAN YUANQU CONSTRUC    4.48      03/10/23    CNY    59.17
GUANGYUAN YUANQU CONSTRUC    4.48      03/10/23    CNY    59.16
GUANGYUAN YUANQU CONSTRUC    8.35      08/26/21    CNY    47.00
GUANGYUAN YUANQU CONSTRUC    8.35      08/26/21    CNY    40.99
GUANGZHOU HUANTOU NANSHA     6.38      11/18/24    CNY    73.48
GUANGZHOU HUANTOU NANSHA     6.38      11/18/24    CNY    72.93
GUANGZHOU METRO GROUP CO     6.45      04/02/24    CNY    63.07
GUANGZHOU METRO GROUP CO     6.05      06/03/24    CNY    62.87
GUANGZHOU METRO GROUP CO     6.45      04/02/24    CNY    60.00
GUILIN CITY INVESTMENT AN    6.90      06/13/21    CNY    20.39
GUILIN CITY INVESTMENT AN    6.90      06/13/21    CNY    20.00
GUILIN ECONOMIC CONSTRUCT    5.60      04/22/22    CNY    40.90
GUILIN ECONOMIC CONSTRUCT    5.60      04/22/22    CNY    40.00
GUIRENNIAO CO LTD            7.00      12/03/19    CNY    49.50
GUIYANG BAIYUN INDUSTRY D    7.30      03/27/22    CNY    45.00
GUIYANG BAIYUN INDUSTRY D    7.30      03/27/22    CNY    40.51
GUIYANG GUANSHANHU DISTRI    4.87      01/28/23    CNY    59.26
GUIYANG GUANSHANHU DISTRI    4.48      03/09/23    CNY    58.89
GUIYANG GUANSHANHU DISTRI    4.87      01/28/23    CNY    58.87
GUIYANG GUANSHANHU DISTRI    4.48      03/09/23    CNY    58.40
GUIYANG URBAN CONSTRUCTIO    5.23      12/02/22    CNY    60.90
GUIYANG URBAN CONSTRUCTIO    5.23      12/02/22    CNY    60.00
GUIZHOU EAST LAKE CITY CO    5.18      01/06/23    CNY    60.72
GUIZHOU EAST LAKE CITY CO    5.18      01/06/23    CNY    58.09
GUIZHOU FANJINGSHAN INVES    6.95      01/28/22    CNY    41.21
GUIZHOU FANJINGSHAN INVES    6.95      01/28/22    CNY    40.00
GUIZHOU GUIAN CONSTRUCTIO    4.17      10/28/22    CNY    61.00
GUIZHOU GUIAN CONSTRUCTIO    4.17      10/28/22    CNY    60.20
GUIZHOU GUILONG INDUSTRIA    7.80      04/28/22    CNY    51.28
GUIZHOU GUILONG INDUSTRIA    7.80      04/28/22    CNY    49.65
GUIZHOU HONGCAI INVESTMEN    6.00      06/07/23    CNY    48.84
GUIZHOU HONGCAI INVESTMEN    6.00      06/07/23    CNY    48.41
GUIZHOU RAILWAY INVESTMEN    7.50      04/23/24    CNY    63.72
GUIZHOU RAILWAY INVESTMEN    7.20      03/27/22    CNY    41.50
GUIZHOU RAILWAY INVESTMEN    7.20      03/27/22    CNY    41.38
GUIZHOU SHUICHENG CITY IN    4.98      11/22/23    CNY    73.66
GUIZHOU SHUICHENG CITY IN    4.98      11/22/23    CNY    73.34
HAIAN COUNTY DEVELOPMENT     5.45      04/13/23    CNY    59.32
HAIAN COUNTY DEVELOPMENT     5.45      04/13/23    CNY    59.24
HAIAN URBAN DEMOLITION &     5.08      11/27/22    CNY    60.91
HAIAN URBAN DEMOLITION &     5.08      11/27/22    CNY    60.88
HAICHENG URBAN JINCAI LAN    8.56      12/19/20    CNY    20.22
HAICHENG URBAN JINCAI LAN    8.17      04/16/21    CNY    20.22
HAICHENG URBAN JINCAI LAN    8.17      04/16/21    CNY    20.10
HAICHENG URBAN JINCAI LAN    8.56      12/19/20    CNY    20.00
HAIFENG MARINE INFRASTRUC    6.84      04/29/22    CNY    40.63
HAIKOU MEILAN INTERNATION    5.25      09/06/19    USD    55.18
HAIMEN CITY DEVELOPMENT G    6.22      04/03/22    CNY    42.20
HAIMEN CITY DEVELOPMENT G    6.22      04/03/22    CNY    41.16
HAINING CITY DEVELOPMENT     5.58      10/22/21    CNY    40.67
HAINING CITY JIANSHAN DIS    6.90      11/04/20    CNY    21.42
HAINING CITY JIANSHAN DIS    6.90      11/04/20    CNY    20.18
HAIXI STATE-OWNED CAPITAL    8.60      01/02/21    CNY    20.30
HAIXI STATE-OWNED CAPITAL    8.60      01/02/21    CNY    20.30
HAIYAN COUNTY STATE-OWNED    7.00      09/04/20    CNY    20.20
HAIYAN COUNTY STATE-OWNED    7.00      09/04/20    CNY    20.07
HANDAN CONSTRUCTION & INV    5.48      05/27/22    CNY    47.20
HANDAN CONSTRUCTION & INV    5.48      05/27/22    CNY    40.73
HANGZHOU CITY CONSTRUCTIO    3.80      03/14/23    CNY    60.05
HANGZHOU CITY CONSTRUCTIO    3.80      03/14/23    CNY    60.00
HANGZHOU FUYANG CITY CONS    7.20      03/19/21    CNY    20.45
HANGZHOU FUYANG CITY CONS    7.20      03/19/21    CNY    20.45
HANGZHOU FUYANG DEVELOPME    4.76      01/27/23    CNY    60.12
HANGZHOU FUYANG DEVELOPME    4.76      01/27/23    CNY    59.16
HANGZHOU FUYANG DEVELOPME    7.70      04/28/21    CNY    29.00
HANGZHOU FUYANG DEVELOPME    7.70      04/28/21    CNY    20.57
HANGZHOU GONGSHU DISTRICT    6.90      07/21/21    CNY    40.40
HANGZHOU GONGSHU DISTRICT    6.90      07/21/21    CNY    20.67
HANGZHOU METRO GROUP CO L    5.97      09/17/24    CNY    72.89
HANGZHOU WEST LAKE INVEST    4.30      04/25/23    CNY    61.22
HANGZHOU WEST LAKE INVEST    4.30      04/25/23    CNY    60.62
HANGZHOU XIAOSHAN ECO&TEC    6.90      05/13/21    CNY    20.56
HANGZHOU XIAOSHAN QIANJIA    4.00      03/22/23    CNY    60.27
HANGZHOU XIAOSHAN QIANJIA    4.00      03/22/23    CNY    60.15
HANGZHOU YUHANG CITY CONS    7.00      03/03/21    CNY    20.49
HANGZHOU YUHANG CITY CONS    7.00      03/03/21    CNY    20.44
HANGZHOU YUHANG ECONOMIC     7.45      03/03/21    CNY    20.75
HANGZHOU YUHANG ECONOMIC     7.45      03/03/21    CNY    20.48
HANGZHOU YUHANG TRANSPORT    7.19      04/18/21    CNY    21.85
HANGZHOU YUHANG TRANSPORT    7.19      04/18/21    CNY    20.56
HANJIANG STATE-OWNED-ASSE    7.30      11/11/20    CNY    26.60
HANJIANG STATE-OWNED-ASSE    7.30      11/11/20    CNY    20.32
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 CONST    4.10      11/16/21    CNY    59.92
HEBEI ZHONGYUE CITY CONST    4.10      11/16/21    CNY    59.70
HEBI INVESTMENTS GROUP CO    7.88      08/01/21    CNY    40.99
HEBI INVESTMENTS GROUP CO    7.88      08/01/21    CNY    40.59
HECHI CITY CONSTRUCTION I    5.58      11/13/22    CNY    62.42
HECHI CITY CONSTRUCTION I    5.58      11/13/22    CNY    60.46
HEFEI CONSTRUCTION INVEST    7.20      04/29/24    CNY    64.27
HEFEI XINCHENG STATE-OWNE    4.13      07/15/23    CNY    59.36
HEFEI XINCHENG STATE-OWNE    4.13      07/15/23    CNY    59.10
HEILONGJIANG HECHENG CONS    5.60      11/11/21    CNY    40.22
HEILONGJIANG HECHENG CONS    5.60      11/11/21    CNY    40.00
HEILONGJIANG HECHENG CONS    7.05      06/21/22    CNY    30.93
HEILONGJIANG HECHENG CONS    7.05      06/21/22    CNY    30.80
HEILONGJIANG POST-DISASTE    7.10      11/19/20    CNY    25.22
HEILONGJIANG POST-DISASTE    7.10      11/19/20    CNY    18.55
HEILONGJIANG POST-DISASTE    7.06      11/20/20    CNY     6.81
HEILONGJIANG POST-DISASTE    7.06      11/20/20    CNY     6.74
HEISHAN TONGHE ASSET MANA    6.79      09/18/22    CNY    59.28
HEISHAN TONGHE ASSET MANA    6.79      09/18/22    CNY    59.05
HENGYANG BAISHAZHOU DEVEL    6.87      08/22/21    CNY    44.50
HENGYANG BAISHAZHOU DEVEL    6.87      08/22/21    CNY    40.10
HENGYANG COMMUNICATION IN    4.28      01/21/23    CNY    60.00
HENGYANG COMMUNICATION IN    4.28      01/21/23    CNY    59.75
HENGYANG XIANGJIANG WATER    7.40      04/23/21    CNY    21.10
HENGYANG XIANGJIANG WATER    7.40      04/23/21    CNY    20.39
HETIAN YUXIN STATE-OWNED     4.65      03/28/23    CNY    59.84
HETIAN YUXIN STATE-OWNED     4.65      03/28/23    CNY    59.67
HEYUAN CITY RUNYE INVESTM    6.20      12/03/21    CNY    45.88
HEYUAN CITY RUNYE INVESTM    6.20      12/03/21    CNY    40.68
HEZE INVESTMENT DEVELOPME    7.14      03/24/21    CNY    20.40
HEZHOU URBAN CONSTRUCTION    8.16      05/16/21    CNY    20.80
HEZHOU URBAN CONSTRUCTION    8.16      05/16/21    CNY    20.52
HNA GROUP CO LTD             7.10      04/15/20    CNY    70.00
HNA GROUP CO LTD             5.99      11/27/22    CNY    29.10
HUACHEN ENERGY CO LTD        6.63      05/18/20    USD    31.83
HUAIAN CITY HUAIAN DISTRI    4.63      05/03/23    CNY    64.10
HUAIAN CITY HUAIAN DISTRI    4.63      05/03/23    CNY    60.12
HUAIAN CITY URBAN ASSET O    5.70      04/23/22    CNY    41.54
HUAIAN CITY URBAN ASSET O    5.70      04/23/22    CNY    40.90
HUAIAN CITY XUYI URBAN AS    5.10      04/15/23    CNY    59.79
HUAIAN CITY XUYI URBAN AS    5.10      04/15/23    CNY    59.21
HUAI'AN DEVELOPMENT HOLDI    7.30      03/10/21    CNY    27.84
HUAI'AN DEVELOPMENT HOLDI    7.30      03/10/21    CNY    20.42
HUAIAN HONGRI TRANSPORTAT    5.09      04/20/23    CNY    58.85
HUAIAN HONGRI TRANSPORTAT    5.09      04/20/23    CNY    58.01
HUAIAN HONGZE DISTRICT UR    4.37      07/18/23    CNY    58.96
HUAI'AN NEW CITY INVESTME    6.95      07/28/21    CNY    47.50
HUAI'AN NEW CITY INVESTME    6.95      07/28/21    CNY    40.52
HUAI'AN NEW CITY INVESTME    7.45      03/04/21    CNY    20.33
HUAI'AN NEW CITY INVESTME    7.45      03/04/21    CNY    20.00
HUAIHUA CITY INDUSTRIAL P    7.70      10/29/20    CNY    20.11
HUAIHUA CITY INDUSTRIAL P    7.70      10/29/20    CNY    20.10
HUAIHUA ECONOMIC DEVELOPM    6.80      03/26/22    CNY    40.34
HUAIHUA ECONOMIC DEVELOPM    6.80      03/26/22    CNY    40.00
HUAIHUA TRANSPORTATION CO    4.96      04/12/23    CNY    59.65
HUAIHUA TRANSPORTATION CO    4.96      04/12/23    CNY    59.26
HUAINAN URBAN CONSTRUCTIO    6.79      07/09/21    CNY    21.65
HUAINAN URBAN CONSTRUCTIO    6.79      07/09/21    CNY    20.60
HUANGGANG CITY CONSTRUCTI    4.08      01/18/23    CNY    60.27
HUANGGANG CITY CONSTRUCTI    8.60      12/25/20    CNY    20.60
HUANGGANG CITY CONSTRUCTI    7.45      03/04/21    CNY    20.42
HUANGGANG CITY CONSTRUCTI    8.60      12/25/20    CNY    20.37
HUANGSHAN CHENGTOU GROUP     5.95      05/06/22    CNY    41.14
HUANGSHAN CHENGTOU GROUP     5.95      05/06/22    CNY    40.65
HUANGSHI CIHU HIGH-TECH D    4.50      06/08/23    CNY    63.00
HUANGSHI CIHU HIGH-TECH D    4.97      06/08/23    CNY    60.41
HUANGSHI CIHU HIGH-TECH D    4.50      06/08/23    CNY    60.17
HUANGSHI CIHU HIGH-TECH D    4.97      06/08/23    CNY    60.05
HUANGSHI CIHU HIGH-TECH D    9.30      01/21/21    CNY    20.44
HUANGSHI CIHU HIGH-TECH D    8.70      12/05/20    CNY    20.25
HUANGSHI URBAN CONSTRUCTI    5.99      04/29/22    CNY    41.29
HUANGSHI URBAN CONSTRUCTI    5.99      04/29/22    CNY    40.00
HUAWEN MEDIA GROUP           6.00      04/04/21    CNY    45.50
HUBEI PROVINCE CHANGJIANG    6.15      04/03/22    CNY    42.40
HUBEI PROVINCE CHANGJIANG    6.15      04/03/22    CNY    41.28
HULUDAO INVESTMENT GROUP     7.50      10/18/23    CNY    62.24
HULUDAO INVESTMENT GROUP     7.05      10/18/20    CNY    20.52
HULUDAO INVESTMENT GROUP     7.05      10/18/20    CNY    20.11
HULUNBEIER INVESTMENT CO     6.31      04/30/22    CNY    40.57
HULUNBEIER INVESTMENT CO     6.31      04/30/22    CNY    40.00
HUNAN CHANGDE DEYUAN INVE    6.50      06/16/21    CNY    22.25
HUNAN CHANGDE DEYUAN INVE    6.50      06/16/21    CNY    20.48
HUNAN CHUZHISHENG HOLDING    5.60      12/18/22    CNY    61.09
HUNAN CHUZHISHENG HOLDING    5.60      12/18/22    CNY    60.06
HUNAN JINYANG INVESTMENT     4.37      01/19/23    CNY    59.84
HUNAN JINYANG INVESTMENT     4.37      01/19/23    CNY    59.82
HUNAN JINYANG INVESTMENT     4.39      04/06/23    CNY    59.54
HUNAN JINYANG INVESTMENT     4.39      04/06/23    CNY    58.73
HUNAN JINYANG INVESTMENT     5.70      11/27/21    CNY    40.22
HUNAN JINYANG INVESTMENT     5.70      11/27/21    CNY    38.60
HUNAN LOUDI ECONOMIC & TE    4.89      03/30/23    CNY    56.50
HUNAN LOUDI ECONOMIC & TE    4.89      03/30/23    CNY    56.48
HUNAN LOUDI ECONOMIC & TE    6.36      03/13/22    CNY    47.00
HUNAN LOUDI ECONOMIC & TE    6.36      03/13/22    CNY    39.47
HUNAN PROVINCIAL RAILWAY     6.09      04/30/25    CNY    74.05
HUNAN PROVINCIAL RAILWAY     6.09      04/30/25    CNY    70.00
HUNAN SHAODONG ECO-INDUST    6.50      01/11/23    CNY    61.84
HUNAN SHAODONG ECO-INDUST    6.50      01/11/23    CNY    59.31
HUNAN TIER GROUP CO LTD      4.20      03/17/23    CNY    58.30
HUNAN TIER GROUP CO LTD      4.20      03/17/23    CNY    57.50
HUNAN TIER GROUP CO LTD      8.00      12/23/20    CNY    22.72
HUNAN TIER GROUP CO LTD      7.10      03/03/21    CNY    20.36
HUNAN TIER GROUP CO LTD      8.00      12/23/20    CNY    20.36
HUNAN TIER GROUP CO LTD      7.10      03/03/21    CNY    20.20
HUNAN XIANGJIANG NEW AREA    7.36      03/17/21    CNY    20.42
HUNAN XIANGJIANG NEW AREA    7.36      03/17/21    CNY    20.00
HUNAN YOUZHOU INVESTMENT     4.80      07/07/23    CNY    60.17
HUNAN YOUZHOU INVESTMENT     4.80      07/07/23    CNY    60.16
HUZHOU URBAN CONSTRUCTION    6.48      08/28/21    CNY    42.38
HUZHOU URBAN CONSTRUCTION    6.48      08/28/21    CNY    40.78
HUZHOU WUXING NANTAIHU CO    8.79      01/16/21    CNY    20.40
HUZHOU XISAISHAN DEVELOPM    7.80      04/29/21    CNY    20.38
HUZHOU XISAISHAN DEVELOPM    7.80      04/29/21    CNY    20.00
INNER MONGOLIA JINLONG IN    7.30      11/19/22    CNY    60.20
INNER MONGOLIA JINLONG IN    7.30      11/19/22    CNY    59.50
INNER MONGOLIA KE'ERQIN U    6.45      04/30/22    CNY    40.00
INNER MONGOLIA KE'ERQIN U    6.50      03/11/22    CNY    40.00
INNER MONGOLIA KE'ERQIN U    6.50      03/11/22    CNY    39.06
INNER MONGOLIA KE'ERQIN U    6.45      04/30/22    CNY    38.90
INNER MONGOLIA SHENGXIANG    8.18      08/21/21    CNY    44.00
INNER MONGOLIA SHENGXIANG    8.18      08/21/21    CNY    40.10
INNER MONGOLIA ZHUNGEER S    6.54      12/31/21    CNY    42.10
INNER MONGOLIA ZHUNGEER S    6.54      12/31/21    CNY    41.02
JIAN CITY JINGANGSHAN DEV    4.87      01/27/23    CNY    59.80
JIAN CITY JINGANGSHAN DEV    4.87      01/27/23    CNY    58.86
JIAN CITY JINGANGSHAN DEV    7.99      06/03/21    CNY    20.87
JIAN CITY JINGANGSHAN DEV    7.99      06/03/21    CNY    20.43
JIANAN INVESTMENT HOLDING    4.30      03/08/23    CNY    60.27
JIANAN INVESTMENT HOLDING    4.30      03/08/23    CNY    60.26
JIANAN INVESTMENT HOLDING    6.85      05/23/21    CNY    26.50
JIANAN INVESTMENT HOLDING    6.85      05/23/21    CNY    20.44
JIANGDONG HOLDING GROUP C    7.14      04/24/21    CNY    20.48
JIANGMEN NEW HI-TECH INDU    6.03      04/22/22    CNY    41.10
JIANGMEN NEW HI-TECH INDU    6.03      04/22/22    CNY    40.99
JIANGMEN NEW HI-TECH INDU    7.39      11/04/20    CNY    20.19
JIANGSU BEIGU INDUSTRIAL     5.80      06/20/23    CNY    61.28
JIANGSU BEIGU INDUSTRIAL     5.80      06/20/23    CNY    60.32
JIANGSU HAIZHOU DEVELOPME    4.67      06/06/23    CNY    61.51
JIANGSU HAIZHOU DEVELOPME    4.67      06/06/23    CNY    60.41
JIANGSU HAIZHOUWAN DEVELO    5.37      03/29/23    CNY    45.00
JIANGSU HANRUI INVESTMENT    4.63      04/15/23    CNY    61.00
JIANGSU HANRUI INVESTMENT    4.63      04/15/23    CNY    60.54
JIANGSU JINGUAN INVESTMEN    7.90      04/08/21    CNY    20.80
JIANGSU JINGUAN INVESTMEN    7.90      04/08/21    CNY    20.50
JIANGSU JINTAN GUOFA INTE    6.85      05/30/21    CNY    20.61
JIANGSU JINTAN GUOFA INTE    6.85      05/30/21    CNY    20.00
JIANGSU JURONG FUDI BIO-T    7.70      03/21/21    CNY    40.84
JIANGSU NANTONG NO2 CONST    8.10      07/10/21    CNY    20.22
JIANGSU NEWHEADLINE DEVEL    7.00      08/27/20    CNY    29.90
JIANGSU NEWHEADLINE DEVEL    7.00      08/27/20    CNY    25.06
JIANGSU RUNCHENG ASSET OP    7.88      04/16/21    CNY    28.80
JIANGSU RUNCHENG ASSET OP    7.88      04/16/21    CNY    20.49
JIANGSU RUNQI WANGUO INDU    4.14      10/21/21    CNY    59.88
JIANGSU RUNQI WANGUO INDU    4.14      10/21/21    CNY    58.98
JIANGSU SUHAI INVESTMENT     7.28      05/29/21    CNY    25.00
JIANGSU SUHAI INVESTMENT     7.28      05/29/21    CNY    20.34
JIANGSU TAICANG PORT DEVE    7.40      04/28/21    CNY    20.42
JIANGSU TAICANG PORT DEVE    7.40      04/28/21    CNY    20.00
JIANGSU WANGTAO INVESTMEN    6.82      09/15/20    CNY    26.10
JIANGSU WANGTAO INVESTMEN    6.82      09/15/20    CNY    25.07
JIANGSU WUZHONG ECONOMIC     5.49      11/19/21    CNY    40.69
JIANGSU WUZHONG ECONOMIC     5.49      11/19/21    CNY    40.32
JIANGSU XISHAN ECONOMIC D    5.78      07/20/22    CNY    40.91
JIANGSU YANGKOU PORT CONS    6.23      04/10/22    CNY    47.50
JIANGSU YANGKOU PORT CONS    6.23      04/10/22    CNY    40.78
JIANGSU YIXING ECONOMIC D    7.69      04/18/21    CNY    30.19
JIANGSU YIXING ECONOMIC D    7.69      04/18/21    CNY    20.51
JIANGSU ZHANGJIAGANG ECON    3.95      03/22/23    CNY    60.00
JIANGSU ZHANGJIAGANG ECON    3.95      03/22/23    CNY    59.99
JIANGSU ZHUFU INDUSTRIAL     4.47      07/20/23    CNY    58.33
JIANGSU ZHUFU INDUSTRIAL     4.93      12/29/20    CNY    40.18
JIANGXI HEJI INVESTMENT C    5.09      12/17/22    CNY    60.00
JIANGXI HEJI INVESTMENT C    5.09      12/17/22    CNY    59.62
JIANGXI HUIHENG PROPERTY     4.43      08/30/21    CNY    70.07
JIANGXI HUIHENG PROPERTY     4.43      08/30/21    CNY    69.59
JIANGXI LONGHU MOUNTAIN T    4.35      03/16/23    CNY    59.70
JIANGXI LONGHU MOUNTAIN T    4.35      03/16/23    CNY    59.37
JIANGXI PINGXIANG CHANGSH    8.18      05/22/21    CNY    29.34
JIANGXI PINGXIANG CHANGSH    8.18      05/22/21    CNY    20.45
JIANGXI PROVINCE SITONG R    8.20      04/18/21    CNY    20.56
JIANGXI PROVINCE SITONG R    8.20      04/18/21    CNY    20.56
JIANGYIN LINGANG NEW CITY    7.10      11/07/20    CNY    21.00
JIANGYIN LINGANG NEW CITY    7.10      11/07/20    CNY    20.15
JIANGYOU HONGFEI INVESTME    6.55      09/02/22    CNY    60.66
JIANGYOU HONGFEI INVESTME    6.55      09/02/22    CNY    60.31
JIANHU COUNTY DEVELOPMENT    7.29      09/25/21    CNY    42.75
JIANHU COUNTY DEVELOPMENT    7.29      09/25/21    CNY    40.47
JIANHU URBAN CONSTRUCTION    3.28      10/13/21    CNY    71.00
JIANHU URBAN CONSTRUCTION    3.28      10/13/21    CNY    69.27
JIANHU URBAN CONSTRUCTION    6.30      06/01/22    CNY    42.86
JIANHU URBAN CONSTRUCTION    6.30      06/01/22    CNY    39.81
JIAXING ECONOMIC&TECHNOLO    7.89      03/05/21    CNY    21.13
JIAXING ECONOMIC&TECHNOLO    7.89      03/05/21    CNY    20.30
JIAXING NANHU INVESTMENT     7.45      02/26/21    CNY    21.80
JIAXING NANHU INVESTMENT     7.45      02/26/21    CNY    20.55
JIAXING XIANGJIADANG DEVE    4.13      07/20/23    CNY    59.79
JIAYU COUNTY URBAN TOWN C    5.70      01/19/23    CNY    60.89
JIAYU COUNTY URBAN TOWN C    5.70      01/19/23    CNY    60.89
JIAYUGUAN CITY INFRASTRUC    7.83      09/23/21    CNY    40.47
JIAYUGUAN CITY INFRASTRUC    7.83      09/23/21    CNY    40.00
JIEYANGSHI CHENGSHI TOUZI    6.55      08/27/21    CNY    40.55
JILIN CITY CONSTRUCTION H    3.80      01/27/23    CNY    59.95
JILIN CITY CONSTRUCTION H    3.80      01/27/23    CNY    59.90
JILIN ECONOMIC AND TECHNO    6.20      04/29/23    CNY    60.54
JILIN ECONOMIC AND TECHNO    6.20      04/29/23    CNY    59.22
JILIN NORTHEAST SOCK INDU    7.50      05/19/22    CNY    71.71
JILIN NORTHEAST SOCK INDU    6.80      12/19/21    CNY    69.84
JILIN RAILWAY INVESTMENT     7.18      03/04/21    CNY    20.11
JINAN CITY CONSTRUCTION I    6.80      03/20/21    CNY    20.49
JINAN CITY CONSTRUCTION I    6.80      03/20/21    CNY    20.48
JINAN CITY LICHENG DISTRI    5.00      06/23/22    CNY    39.61
JINAN CITY LICHENG DISTRI    5.00      06/23/22    CNY    39.61
JINAN HI-TECH HOLDING GRO    6.38      06/19/21    CNY    20.37
JINCHANG CONSTRUCTION INV    6.79      12/21/22    CNY    60.60
JINCHANG CONSTRUCTION INV    6.79      12/21/22    CNY    60.00
JINCHENG STATE-OWNED CAPI    4.99      11/11/21    CNY    40.50
JINCHENG STATE-OWNED CAPI    4.99      11/11/21    CNY    40.34
JINGDE TAOCI CULTURAL TOU    5.38      11/27/22    CNY    60.04
JINGDE TAOCI CULTURAL TOU    5.38      11/27/22    CNY    60.00
JINGHONG STATE-OWNED ASSE    8.08      05/23/21    CNY    20.33
JINGHONG STATE-OWNED ASSE    8.08      05/23/21    CNY    20.00
JINGJIANG CITY INVESTMENT    4.55      03/30/23    CNY    59.58
JINGJIANG CITY INVESTMENT    4.55      03/30/23    CNY    59.52
JINGJIANG HARBOUR GROUP C    7.30      08/05/21    CNY    48.68
JINGJIANG HARBOUR GROUP C    7.30      08/05/21    CNY    40.14
JINGMEN CITY CONSTRUCTION    6.85      07/09/22    CNY    31.76
JINGMEN CITY CONSTRUCTION    6.85      07/09/22    CNY    30.99
JINGMEN CITY CONSTRUCTION    7.00      10/17/20    CNY    20.15
JINGMEN CITY CONSTRUCTION    7.00      10/17/20    CNY    18.57
JINGMEN DONGBAO DISTRICT     4.44      07/22/23    CNY    20.00
JINGMEN HIGH-TECH DEVELOP    5.48      08/11/22    CNY    60.70
JINGMEN HIGH-TECH DEVELOP    5.48      08/11/22    CNY    59.80
JINGZHOU DEVELOPMENT ZONE    8.20      12/09/20    CNY    21.80
JINGZHOU DEVELOPMENT ZONE    8.20      12/09/20    CNY    20.27
JINGZHOU URBAN CONSTRUCTI    3.97      03/10/23    CNY    59.96
JINGZHOU URBAN CONSTRUCTI    3.97      03/10/23    CNY    59.68
JINHU COUNTY STATE-OWNED     7.75      08/25/21    CNY    41.33
JINHU COUNTY STATE-OWNED     7.75      08/25/21    CNY    40.86
JINING CITY SHIZHONG DIST    6.39      01/29/22    CNY    44.44
JINING CITY SHIZHONG DIST    6.39      01/29/22    CNY    40.73
JINING HIGH TECH URBAN CO    6.09      04/30/22    CNY    41.50
JINING HIGH TECH URBAN CO    6.09      04/30/22    CNY    41.02
JINTANG MODERN AGRICULTUR    5.49      07/14/23    CNY    58.31
JINTANG MODERN AGRICULTUR    5.49      07/14/23    CNY    57.68
JINZHAI URBAN DEVELOPMENT    5.90      04/25/23    CNY    61.36
JINZHAI URBAN DEVELOPMENT    5.90      04/25/23    CNY    60.92
JINZHOU CITY INVESTMENT C    6.44      08/18/21    CNY    44.91
JINZHOU CITY INVESTMENT C    6.44      08/18/21    CNY    40.28
JINZHOU CITY INVESTMENT C    8.50      12/27/20    CNY    20.60
JINZHOU CITY INVESTMENT C    8.50      12/27/20    CNY    20.29
JINZHOU HUAXING INVESTMEN    8.38      02/25/21    CNY    25.00
JINZHOU HUAXING INVESTMEN    9.10      01/21/21    CNY    20.90
JINZHOU HUAXING INVESTMEN    9.10      01/21/21    CNY    20.32
JINZHOU HUAXING INVESTMEN    8.38      02/25/21    CNY    20.32
JISHOU HUATAI STATE OWNED    7.18      02/09/22    CNY    42.82
JISHOU HUATAI STATE OWNED    7.18      02/09/22    CNY    39.97
JIUJIANG CITY CONSTRUCTIO    5.50      05/22/22    CNY    40.92
JIUJIANG CITY CONSTRUCTIO    5.50      05/22/22    CNY    39.55
JIUJIANG LAND INVESTMENT     6.20      03/23/22    CNY    40.88
JIUJIANG LAND INVESTMENT     6.20      03/23/22    CNY    40.36
JIUJIANG LIANXI DISTRICT     4.58      03/30/23    CNY    59.49
JIUJIANG LIANXI DISTRICT     4.58      03/30/23    CNY    59.40
JIUQUAN ECONOMIC DEVELOPM    7.40      02/26/21    CNY    20.60
JIUQUAN ECONOMIC DEVELOPM    7.40      02/26/21    CNY    20.39
JIXI STATE OWN ASSET MANA    6.87      01/19/22    CNY    40.85
JIXI STATE OWN ASSET MANA    6.87      01/19/22    CNY    40.13
KAIFENG URBAN OPERATION I    6.35      03/23/22    CNY    40.24
KAIFENG URBAN OPERATION I    6.35      03/23/22    CNY    40.23
KAIFU CITY DEVELOPMENT CO    4.20      01/21/23    CNY    60.10
KAIFU CITY DEVELOPMENT CO    4.20      01/21/23    CNY    60.10
KAILI GUIZHOU TOWN CONSTR    5.29      12/17/22    CNY    60.00
KAILI GUIZHOU TOWN CONSTR    5.29      12/17/22    CNY    58.26
KANGMEI PHARMACEUTICAL CO    6.33      01/27/22    CNY    36.69
KANGMEI PHARMACEUTICAL CO    5.50      04/20/21    CNY    24.15
KANGMEI PHARMACEUTICAL CO    6.28      03/20/21    CNY    24.15
KANGMEI PHARMACEUTICAL CO    6.10      03/28/21    CNY    22.30
KANGMEI PHARMACEUTICAL CO    5.47      09/15/22    CNY    21.25
KANGMEI PHARMACEUTICAL CO    5.29      08/16/22    CNY    21.25
KANGMEI PHARMACEUTICAL CO    5.20      07/17/22    CNY    21.25
KANGMEI PHARMACEUTICAL CO    6.80      06/28/21    CNY    21.25
KANGMEI PHARMACEUTICAL CO    7.00      06/21/21    CNY    21.25
KASHI URBAN CONSTRUCTION     5.80      07/20/22    CNY    60.87
KASHI URBAN CONSTRUCTION     5.80      07/20/22    CNY    40.00
KUNMING DONGJUN REAL ESTA    4.50      11/02/21    CNY    49.38
KUNSHAN COMMUNICATION DEV    6.95      05/22/21    CNY    25.45
KUNSHAN COMMUNICATION DEV    6.95      05/22/21    CNY    20.45
KUNSHAN HIGH TECHNOLOGY G    7.10      03/26/21    CNY    20.45
LAIWU CITY ECONOMIC DEVEL    7.08      02/28/21    CNY    20.60
LAIWU CITY ECONOMIC DEVEL    7.08      02/28/21    CNY    20.35
LANZHOU STATE OWNED ASSET    6.32      09/10/21    CNY    40.16
LANZHOU STATE OWNED ASSET    6.32      09/10/21    CNY    34.90
LAOHEKOU CITY CONSTRUCTIO    6.75      08/12/22    CNY    60.59
LAOHEKOU CITY CONSTRUCTIO    6.75      08/12/22    CNY    60.39
LEIYANG CITY AND RURAL CO    7.80      04/10/22    CNY    41.54
LEIYANG CITY AND RURAL CO    7.80      04/10/22    CNY    41.53
LEQING CITY STATE OWNED I    5.99      10/20/21    CNY    40.85
LEQING CITY STATE OWNED I    5.99      10/20/21    CNY    40.65
LESHAN STATE-OWNED ASSET     5.68      10/22/21    CNY    45.60
LESHAN STATE-OWNED ASSET     5.68      10/22/21    CNY    40.62
LIANYUNGANG TRANSPORT GRO    5.47      11/17/21    CNY    45.00
LIANYUNGANG TRANSPORT GRO    5.47      11/17/21    CNY    40.31
LIAOCHENG ANTAI URBAN RUR    5.16      04/11/23    CNY    60.45
LIAOCHENG ANTAI URBAN RUR    5.16      04/11/23    CNY    60.29
LIAOCHENG ANTAI URBAN RUR    4.58      04/11/23    CNY    60.11
LIAOCHENG ANTAI URBAN RUR    4.58      04/11/23    CNY    59.94
LIAOCHENG XINGYE ECONOMIC    5.20      04/13/23    CNY    60.68
LIAOCHENG XINGYE ECONOMIC    5.20      04/13/23    CNY    58.54
LIAONING COASTAL ECONOMIC    8.90      04/01/21    CNY    11.24
LIAONING COASTAL ECONOMIC    8.90      04/01/21    CNY     3.63
LIAONING YAODU DEVELOPMEN    6.50      04/29/23    CNY    60.77
LILING HIGH-TECH INDUSTRI    4.93      01/19/23    CNY    59.28
LILING HIGH-TECH INDUSTRI    4.93      01/19/23    CNY    58.75
LINFEN YAODU DISTRICT INV    7.19      03/13/22    CNY    40.55
LINFEN YAODU DISTRICT INV    7.19      03/13/22    CNY    40.49
LINFEN YAODU DISTRICT INV    6.99      09/27/20    CNY    20.11
LINFEN YAODU DISTRICT INV    6.99      09/27/20    CNY    20.10
LISHUI CITY CONSTRUCTION     5.67      08/13/22    CNY    61.09
LISHUI CITY CONSTRUCTION     5.67      08/13/22    CNY    60.00
LIUPANSHUI DEVELOPMENT IN    3.74      01/20/23    CNY    60.57
LIUPANSHUI MINSHENG INVES    5.08      01/29/23    CNY    58.68
LIUPANSHUI MINSHENG INVES    5.08      01/29/23    CNY    58.66
LIUYANG MODERN MANUFACTUR    4.72      01/19/23    CNY    59.12
LIUYANG MODERN MANUFACTUR    4.72      01/19/23    CNY    59.11
LIUYANG NEW INDUSTRIAL CI    4.43      10/23/22    CNY    60.30
LIUYANG NEW INDUSTRIAL CI    4.43      10/23/22    CNY    60.10
LIUYANG URBAN CONSTRUCTIO    4.45      05/24/23    CNY    60.43
LIUYANG URBAN CONSTRUCTIO    4.45      05/24/23    CNY    60.39
LIUYANG URBAN CONSTRUCTIO    6.98      08/22/21    CNY    40.77
LIUZHOU CITY INVESTMENT C    7.18      12/31/22    CNY    46.17
LIUZHOU INVESTMENT HOLDIN    4.28      03/08/23    CNY    59.46
LIUZHOU INVESTMENT HOLDIN    4.28      03/08/23    CNY    59.45
LIUZHOU LONGJIAN INVESTME    8.28      04/30/24    CNY    63.68
LIYANG KUNLUN URBAN CONST    5.90      10/24/21    CNY    40.44
LIYANG KUNLUN URBAN CONST    5.90      10/24/21    CNY    38.00
LONGHAI STATE-OWNED ASSET    6.58      08/15/21    CNY    40.45
LONGYAN RAILWAY CONSTRUCT    4.98      04/13/23    CNY    59.30
LONGYAN RAILWAY CONSTRUCT    4.98      04/13/23    CNY    59.24
LOUDI CITY CONSTRUCTION I    7.95      04/15/21    CNY    30.31
LOUDI CITY CONSTRUCTION I    7.95      04/15/21    CNY    20.47
LOUDI TIDU INVESTMENT DEV    4.83      01/20/23    CNY    59.81
LOUDI TIDU INVESTMENT DEV    4.83      01/20/23    CNY    59.43
LOUDI TIDU INVESTMENT DEV    7.18      08/27/21    CNY    40.42
LOUDI WANBAO NEW DISTRICT    5.13      02/01/23    CNY    59.56
LOUDI WANBAO NEW DISTRICT    5.13      02/01/23    CNY    59.40
LU'AN CITY CONSTRUCTION I    5.05      04/26/21    CNY    50.59
LU'AN CITY CONSTRUCTION I    3.97      02/22/21    CNY    50.20
LU'AN CITY CONSTRUCTION I    5.20      09/25/20    CNY    50.20
LUJIANG CITY CONSTRUCTION    6.70      04/16/22    CNY    40.96
LUJIANG CITY CONSTRUCTION    6.70      04/16/22    CNY    40.00
LUOHE CITY INVESTMENT HOL    5.25      09/11/20    CNY    40.07
LUOYANG CITY COUNTRY CONS    4.28      04/26/23    CNY    60.38
LUOYANG CITY COUNTRY CONS    4.28      04/26/23    CNY    60.10
LUOYANG CITY DEVELOPMENT     4.47      12/02/22    CNY    60.64
LUOYANG CITY DEVELOPMENT     4.47      12/02/22    CNY    60.00
LUZHOU XINGLU INVESTMENT     6.41      04/23/25    CNY    74.03
LUZHOU XINGLU INVESTMENT     6.41      04/23/25    CNY    70.00
LUZHOU XINGYANG INVESTMEN    4.87      01/28/23    CNY    59.58
LUZHOU XINGYANG INVESTMEN    4.87      01/28/23    CNY    59.57
MA'ANSHAN CIHU HIGH TECHN    6.85      09/09/21    CNY    43.00
MA'ANSHAN CIHU HIGH TECHN    6.85      09/09/21    CNY    40.61
MAANSHAN ECONOMIC TECHNOL    6.49      03/06/22    CNY    44.99
MAANSHAN ECONOMIC TECHNOL    6.49      03/06/22    CNY    40.64
MAANSHAN HUASHAN DISTRICT    6.07      04/20/22    CNY    41.83
MAANSHAN HUASHAN DISTRICT    6.07      04/20/22    CNY    41.20
MEISHAN ASSET MANAGEMENT     7.84      02/26/21    CNY    20.38
MEISHAN CITY DONGPO DEVEL    5.90      06/30/23    CNY    59.36
MEISHAN CITY DONGPO DEVEL    5.90      06/30/23    CNY    59.14
MEISHAN HONGDA CONSTRUCTI    4.18      03/28/23    CNY    60.04
MEISHAN HONGDA CONSTRUCTI    4.18      03/28/23    CNY    59.08
MEIZHOU CITY XIN JIN YE D    6.02      04/22/22    CNY    45.32
MEIZHOU CITY XIN JIN YE D    6.02      04/22/22    CNY    40.84
MEIZHOU KANGDA HIGHWAY CO    6.95      09/10/20    CNY    20.09
MEIZHOU KANGDA HIGHWAY CO    6.95      09/10/20    CNY    20.07
MEIZHOU MEI COUNTY DISTRI    5.00      12/30/22    CNY    60.00
MEIZHOU MEI COUNTY DISTRI    5.00      12/30/22    CNY    59.79
MUDANJIANG AREA URBAN DEV    6.48      06/30/22    CNY    45.00
MUDANJIANG AREA URBAN DEV    6.48      06/30/22    CNY    41.33
MUDANJIANG STATE-OWNED AS    7.70      04/14/21    CNY    20.29
MUDANJIANG STATE-OWNED AS    7.70      04/14/21    CNY    20.29
MUNICIPALITY OF SHENZHEN     3.00      03/29/22    CNY    60.00
MUNICIPALITY OF SHENZHEN     3.00      03/29/22    CNY    60.00
NANCHONG AIRPORT INVESTME    6.80      01/26/22    CNY    40.53
NANCHONG AIRPORT INVESTME    6.80      01/26/22    CNY    40.39
NANCHONG ECONOMIC DEVELOP    8.28      04/21/21    CNY    31.20
NANCHONG ECONOMIC DEVELOP    8.28      04/21/21    CNY    20.58
NANJING BAIXIA STATE-OWNE    3.98      03/29/23    CNY    60.72
NANJING BAIXIA STATE-OWNE    3.98      03/29/23    CNY    60.04
NANJING HEXI NEW TOWN ASS    3.20      07/22/21    CNY    70.01
NANJING HEXI NEW TOWN ASS    3.47      06/17/21    CNY    40.10
NANJING JIANGNING ECONOMI    7.94      04/14/24    CNY    65.41
NANJING JIANYE SCIENCE &     4.37      06/24/23    CNY    60.57
NANJING JIANYE SCIENCE &     4.37      06/24/23    CNY    59.89
NANJING LISHUI ECONOMIC A    6.27      09/22/21    CNY    41.29
NANJING LISHUI ECONOMIC A    6.27      09/22/21    CNY    40.74
NANJING LISHUI URBAN CONS    4.97      04/28/23    CNY    60.60
NANJING LISHUI URBAN CONS    4.97      04/28/23    CNY    59.64
NANJING QIXIA STATE-OWNED    4.10      06/24/23    CNY    60.15
NANJING QIXIA STATE-OWNED    4.10      06/24/23    CNY    59.76
NANJING STATE OWNED ASSET    5.60      03/06/23    CNY    46.17
NANJING TANGSHAN CONSTRUC    6.80      06/30/21    CNY    26.80
NANJING TANGSHAN CONSTRUC    6.80      06/30/21    CNY    20.59
NANNING HI-TECH INDUSTRIA    4.28      03/25/23    CNY    59.12
NANNING HI-TECH INDUSTRIA    4.28      03/25/23    CNY    55.20
NANNING LVGANG CONSTRUCTI    7.30      06/27/21    CNY    24.80
NANNING LVGANG CONSTRUCTI    7.30      06/27/21    CNY    20.49
NANPING CITY WUYI NEW DIS    4.96      09/28/22    CNY    60.60
NANPING CITY WUYI NEW DIS    4.96      09/28/22    CNY    60.54
NANPING CITY WUYI NEW DIS    6.70      08/06/20    CNY    20.08
NANPING CITY WUYI NEW DIS    6.70      08/06/20    CNY    20.03
NANTONG CHONGCHUAN URBAN     7.15      04/18/21    CNY    25.40
NANTONG CHONGCHUAN URBAN     7.15      04/18/21    CNY    20.46
NANTONG CITY GANGZHA DIST    3.80      09/06/21    CNY    69.96
NANTONG CITY GANGZHA DIST    3.80      09/06/21    CNY    69.93
NANTONG CITY TONGZHOU DIS    3.75      07/07/23    CNY    61.50
NANTONG CITY TONGZHOU DIS    3.75      07/07/23    CNY    59.46
NANTONG HIGH TECHNOLOGY D    5.00      10/19/22    CNY    61.52
NANTONG HIGH TECHNOLOGY D    5.00      10/19/22    CNY    60.82
NANTONG SUTONG SCIENCE &     6.20      03/18/22    CNY    40.57
NANTONG SUTONG SCIENCE &     6.20      03/18/22    CNY    40.00
NANYANG HIGH-TECH DISTRIC    6.45      04/29/23    CNY    61.88
NANYANG HIGH-TECH DISTRIC    6.45      04/29/23    CNY    60.80
NANYANG INVESTMENT GROUP     7.05      10/24/20    CNY    20.16
NANYANG INVESTMENT GROUP     7.05      10/24/20    CNY    20.00
NEIJIANG INVESTMENT HOLDI    7.99      04/24/21    CNY    28.53
NEIJIANG INVESTMENT HOLDI    7.99      04/24/21    CNY    20.68
NEIJIANG STATE-OWNED ASSE    6.20      04/12/23    CNY    59.44
NEIJIANG STATE-OWNED ASSE    6.20      04/12/23    CNY    59.43
NEIJINAG CONSTRUCTION ENG    5.03      12/25/22    CNY    59.61
NEIJINAG CONSTRUCTION ENG    5.03      12/25/22    CNY    56.36
NEOGLORY HOLDING GROUP CO    8.10      11/23/18    CNY    72.00
NEOGLORY HOLDING GROUP CO    8.00      09/25/20    CNY    60.00
NEOGLORY HOLDING GROUP CO    8.00      10/22/20    CNY    56.00
NINGBO CITY HAISHU GUANGJ    7.75      03/06/21    CNY    26.30
NINGBO CITY HAISHU GUANGJ    7.75      03/06/21    CNY    20.47
NINGBO CITY ZHENHAI INVES    5.85      12/04/21    CNY    40.84
NINGBO CITY ZHENHAI INVES    5.85      12/04/21    CNY    40.67
NINGBO ECONOMIC & TECHNIC    7.09      04/21/21    CNY    29.00
NINGBO ECONOMIC & TECHNIC    7.09      04/21/21    CNY    20.42
NINGBO MEISHAN ISLAND DEV    6.27      03/23/22    CNY    48.29
NINGBO MEISHAN ISLAND DEV    6.27      03/23/22    CNY    41.32
NINGGUO CITY STATE OWNED     8.70      04/28/21    CNY    20.66
NINGGUO CITY STATE OWNED     8.70      04/28/21    CNY    20.00
NINGHAI COUNTY URBAN INVE    8.00      01/02/21    CNY    25.00
NINGHAI COUNTY URBAN INVE    7.99      04/16/21    CNY    20.70
NINGHAI COUNTY URBAN INVE    7.99      04/16/21    CNY    20.69
NINGHAI COUNTY URBAN INVE    8.00      01/02/21    CNY    20.30
NINGXIANG CITY CONSTRUCTI    6.70      01/20/22    CNY    41.10
NINGXIANG CITY CONSTRUCTI    6.70      01/20/22    CNY    40.20
NINGXIANG ECONOMIC TECHNO    3.87      01/27/23    CNY    60.40
NINGXIANG ECONOMIC TECHNO    3.87      01/27/23    CNY    59.79
NINGXIANG ECONOMIC TECHNO    8.20      04/16/21    CNY    20.54
NINGXIANG STATE-OWNED ASS    4.89      06/03/23    CNY    60.27
NINGXIANG STATE-OWNED ASS    4.89      06/03/23    CNY    59.03
ONE BELT ONE ROAD JIANGSU    4.70      07/15/23    CNY    60.18
ONE BELT ONE ROAD JIANGSU    4.70      07/15/23    CNY    60.18
PANJIN CITY SHUANGTAIZI D    7.25      01/22/22    CNY    40.76
PANJIN CITY SHUANGTAIZI D    7.25      01/22/22    CNY    40.38
PANSHAN COUNTY STATE-OWNE    7.48      01/21/22    CNY    40.73
PANSHAN COUNTY STATE-OWNE    7.48      01/21/22    CNY    40.71
PANZHIHUA STATE OWNED ASS    8.18      03/13/22    CNY    41.92
PANZHIHUA STATE OWNED ASS    8.18      03/13/22    CNY    41.00
PANZHIHUA STATE OWNED ASS    7.60      03/05/21    CNY    20.45
PANZHIHUA STATE OWNED ASS    7.60      03/05/21    CNY    20.32
PANZHIHUA STATE OWNED ASS    5.41      07/29/20    CNY    19.30
PEIXIAN CITY INVESTMENT D    5.20      11/10/22    CNY    60.36
PEIXIAN CITY INVESTMENT D    5.20      11/10/22    CNY    60.00
PEKING UNIVERSITY FOUNDER    6.30      03/04/24    CNY    49.00
PEKING UNIVERSITY FOUNDER    6.50      11/16/23    CNY    49.00
PEKING UNIVERSITY FOUNDER    6.68      08/09/23    CNY    49.00
PEKING UNIVERSITY FOUNDER    5.80      01/28/22    CNY    49.00
PEKING UNIVERSITY FOUNDER    6.10      08/22/21    CNY    49.00
PEKING UNIVERSITY FOUNDER    4.80      07/26/21    CNY    49.00
PEKING UNIVERSITY FOUNDER    6.30      09/12/20    CNY    49.00
PEKING UNIVERSITY FOUNDER    6.15      07/23/20    CNY    49.00
PEKING UNIVERSITY FOUNDER    6.20      05/31/20    CNY    49.00
PEKING UNIVERSITY FOUNDER    5.99      11/02/21    CNY    11.00
PINGHU CITY INVESTMENT DE    5.13      04/29/23    CNY    61.16
PINGHU CITY INVESTMENT DE    5.13      04/29/23    CNY    60.61
PINGHU ECONOMIC DEVELOPME    7.99      04/17/21    CNY    20.66
PINGHU ECONOMIC DEVELOPME    7.99      04/17/21    CNY    20.36
PINGLIANG CHENGXIANG CONS    7.10      09/17/20    CNY    20.08
PINGLIANG CULTURAL & TOUR    6.85      11/30/22    CNY    59.33
PINGTAN COMPREHENSIVE PIL    3.92      01/29/23    CNY    60.07
PINGTAN COMPREHENSIVE PIL    3.92      01/29/23    CNY    60.00
PINGXIANG CHANGXING INVES    5.26      04/11/23    CNY    59.60
PINGXIANG CHANGXING INVES    5.26      04/11/23    CNY    58.74
PINGXIANG HUIFENG INVESTM    6.60      01/26/22    CNY    40.54
PINGXIANG HUIFENG INVESTM    6.60      01/26/22    CNY    40.21
PINGYANG STATE-OWNED ASSE    4.97      01/08/23    CNY    60.00
PINGYANG STATE-OWNED ASSE    4.97      01/08/23    CNY    59.77
PIZHOU CITY HENGRUN INVES    6.46      12/05/21    CNY    42.46
PIZHOU CITY HENGRUN INVES    6.46      12/05/21    CNY    40.85
PIZHOU ECONOMIC DEVELOPME    5.00      10/29/22    CNY    60.00
PIZHOU ECONOMIC DEVELOPME    5.00      10/29/22    CNY    59.58
PIZHOU RUNCAI ASSET MANAG    5.90      12/18/20    CNY    50.19
PUTIAN HIGH TECHNOLOGY IN    5.90      05/03/22    CNY    50.44
PUTIAN HIGH TECHNOLOGY IN    5.90      05/03/22    CNY    50.19
PUYANG INVESTMENT GROUP C    8.00      12/11/20    CNY    20.29
PUYANG INVESTMENT GROUP C    8.00      12/11/20    CNY    20.00
QIANAN URBAN CONSTRUCTION    7.19      08/11/21    CNY    40.60
QIANAN URBAN CONSTRUCTION    7.19      08/11/21    CNY    40.00
QIANAN URBAN CONSTRUCTION    8.88      01/23/21    CNY    20.39
QIANAN URBAN CONSTRUCTION    8.88      01/23/21    CNY    20.00
QIANAN XINGYUAN WATER IND    6.25      04/22/22    CNY    46.90
QIANAN XINGYUAN WATER IND    6.25      04/22/22    CNY    40.87
QIANDONGNAN TRANSPORTATIO    5.79      12/21/22    CNY    57.68
QIANDONGNAN TRANSPORTATIO    5.79      12/21/22    CNY    56.65
QIANJIANG URBAN CONSTRUCT    5.19      12/21/22    CNY    60.00
QIANJIANG URBAN CONSTRUCT    5.19      12/21/22    CNY    59.98
QIANJIANG URBAN CONSTRUCT    8.38      04/22/21    CNY    21.00
QIANJIANG URBAN CONSTRUCT    8.38      04/22/21    CNY    20.63
QIANNANZHOU INVESTMENT CO    6.43      03/09/22    CNY    39.60
QIANXINAN AUTONOMOUS REGI    5.90      06/22/23    CNY    59.13
QIANXINAN AUTONOMOUS REGI    5.90      06/22/23    CNY    58.70
QIDONG COMMUNICATIONS INV    4.00      03/18/23    CNY    60.75
QIDONG COMMUNICATIONS INV    4.00      03/18/23    CNY    59.95
QIDONG STATE-OWNED ASSET     4.00      03/09/23    CNY    60.01
QIDONG STATE-OWNED ASSET     4.00      03/09/23    CNY    59.30
QIDONG STATE-OWNED ASSET     7.30      11/20/22    CNY    46.61
QIDONG URBAN CONSTRUCTION    8.20      04/04/21    CNY    20.61
QIDONG URBAN CONSTRUCTION    7.90      04/28/21    CNY    20.59
QIDONG URBAN CONSTRUCTION    8.20      04/04/21    CNY    20.52
QIHE CITY OPERATION CONST    5.10      03/07/23    CNY    59.92
QIHE CITY OPERATION CONST    5.10      03/07/23    CNY    59.41
QINGDAO CONSON DEVELOPMEN    6.40      12/12/22    CNY    47.20
QINGDAO CONSON DEVELOPMEN    6.40      12/12/22    CNY    46.38
QINGDAO HICREAT DEVELOPME    6.88      04/25/21    CNY    20.46
QINGDAO JIAOZHOU BAY DEVE    6.33      09/18/21    CNY    41.30
QINGDAO JIAOZHOU BAY DEVE    6.33      09/18/21    CNY    40.64
QINGDAO JIMO CITY TOURISM    5.47      11/17/21    CNY    41.00
QINGDAO JIMO CITY TOURISM    5.47      11/17/21    CNY    40.65
QINGDAO LAIXI CITY ASSET     7.50      03/06/21    CNY    28.79
QINGDAO LAIXI CITY ASSET     7.50      03/06/21    CNY    20.39
QINGDAO OCEAN INVESTMENT     4.36      05/12/23    CNY    60.40
QINGDAO OCEAN INVESTMENT     4.36      05/12/23    CNY    59.67
QINGDAO WEST COAST DEVELO    4.26      06/06/23    CNY    60.51
QINGDAO WEST COAST DEVELO    4.26      06/06/23    CNY    59.95
QINGHAI PROVINCIAL INVEST    7.88      03/22/21    USD    35.40
QINGHAI PROVINCIAL INVEST    6.40      07/10/21    USD    35.20
QINGHAI STATE-OWNED ASSET    5.40      05/21/23    CNY    56.23
QINGHAI STATE-OWNED ASSET    5.90      12/17/22    CNY    56.20
QINGYANG CITY ECONOMIC DE    7.98      04/16/21    CNY    20.31
QINGYANG CITY ECONOMIC DE    7.98      04/16/21    CNY    20.31
QINGYUAN TRANSPORTATION D    8.20      12/19/20    CNY    20.30
QINGZHOU HONGYUAN PUBLIC     7.59      05/29/21    CNY    27.50
QINGZHOU HONGYUAN PUBLIC     7.59      05/29/21    CNY    20.34
QINHUANGDAO CITY DEVELOPM    4.69      04/14/23    CNY    60.87
QINHUANGDAO CITY DEVELOPM    4.69      04/14/23    CNY    59.02
QINHUANGDAO DEVELOPMENT Z    8.45      04/18/21    CNY    21.28
QINHUANGDAO DEVELOPMENT Z    8.45      04/18/21    CNY    20.41
QINHUANGDAO DEVELOPMENT Z    8.00      12/17/20    CNY    20.23
QINHUANGDAO DEVELOPMENT Z    8.00      12/17/20    CNY    20.00
QINZHOU BINHAI NEW CITY A    7.00      08/27/20    CNY    20.04
QINZHOU BINHAI NEW CITY A    7.00      08/27/20    CNY    20.00
QINZHOU BINHAI NEW CITY Z    6.99      07/07/21    CNY    20.15
QINZHOU BINHAI NEW CITY Z    6.99      07/07/21    CNY    20.00
QIONGLAI CITY CONSTRUCTIO    6.98      03/25/22    CNY    40.80
QIONGLAI CITY CONSTRUCTIO    6.98      03/25/22    CNY    40.73
QUANJIAO URBAN INFRASTRUC    5.10      05/18/23    CNY    59.35
QUANJIAO URBAN INFRASTRUC    5.10      05/18/23    CNY    59.34
QUJING CITY QILIN DISTRIC    5.37      11/26/22    CNY    61.95
QUJING CITY QILIN DISTRIC    5.37      11/26/22    CNY    59.17
QUJING DEVELOPMENT INVEST    7.48      04/28/21    CNY    22.55
QUJING DEVELOPMENT INVEST    7.48      04/28/21    CNY    20.38
QUJING ECO TECH DEVELOPME    5.75      06/01/23    CNY    59.56
QUJING ECO TECH DEVELOPME    5.75      06/01/23    CNY    59.15
QUJING ECO TECH DEVELOPME    7.48      07/21/21    CNY    40.51
QUJING ECO TECH DEVELOPME    7.48      07/21/21    CNY    20.33
QUZHOU STATE OWNED ASSET     7.20      04/21/21    CNY    23.42
QUZHOU STATE OWNED ASSET     7.20      04/21/21    CNY    20.59
RENHUAI CITY DEVELOPMENT     5.12      04/14/23    CNY    59.32
RENHUAI CITY DEVELOPMENT     5.12      04/14/23    CNY    59.03
RENHUAI CITY DEVELOPMENT     8.09      05/16/21    CNY    20.61
RENHUAI CITY DEVELOPMENT     8.09      05/16/21    CNY    20.61
RENQIU CONSTRUCTION INVES    5.68      11/18/22    CNY    59.86
RENQIU CONSTRUCTION INVES    5.68      11/18/22    CNY    58.22
RENSHOU DEVELOPMENT OF IN    6.42      12/22/22    CNY    60.72
RENSHOU DEVELOPMENT OF IN    6.42      12/22/22    CNY    60.00
REWARD SCIENCE AND TECHNO    6.40      03/03/22    CNY    70.00
REWARD SCIENCE AND TECHNO    5.53      07/05/21    CNY    29.10
RIGHT WAY REAL ESTATE DEV    8.00      07/15/21    CNY    43.89
RIZHAO CITY CONSTRUCTION     3.98      12/07/22    CNY    60.54
RUDONG COUNTY DONGTAI SOC    6.99      06/20/21    CNY    25.90
RUDONG COUNTY DONGTAI SOC    6.99      06/20/21    CNY    20.59
RUDONG COUNTY JINXIN TRAF    8.08      03/03/21    CNY    24.03
RUDONG COUNTY JINXIN TRAF    8.08      03/03/21    CNY    20.42
RUDONG COUNTY KAITAI CITY    4.57      01/08/23    CNY    60.29
RUDONG NEW WORLD INVESTME    4.37      07/18/23    CNY    78.32
RUGAO COMMUNICATIONS CONS    3.74      03/23/23    CNY    59.81
RUGAO ECONOMIC & TRADE DE    3.95      03/24/23    CNY    60.05
RUGAO ECONOMIC & TRADE DE    3.95      03/24/23    CNY    59.85
RUGAO ECONOMIC & TRADE DE    8.30      01/22/21    CNY    29.00
RUGAO ECONOMIC & TRADE DE    8.30      01/22/21    CNY    20.45
RUGAO YANJIANG DEVELOPMEN    8.60      01/24/21    CNY    20.93
RUGAO YANJIANG DEVELOPMEN    8.60      01/24/21    CNY    20.48
RUIAN STATE OWNED ASSET I    4.56      01/27/23    CNY    60.54
RUIAN STATE OWNED ASSET I    4.56      01/27/23    CNY    58.97
RUICHANG CITY INVESTMENT     5.68      03/25/23    CNY    59.93
RUICHANG CITY INVESTMENT     5.50      06/17/23    CNY    59.76
RUICHANG CITY INVESTMENT     5.68      03/25/23    CNY    59.32
RUICHANG CITY INVESTMENT     5.50      06/17/23    CNY    58.90
RUZHOU CITY XINYUAN INVES    6.30      09/16/21    CNY    53.30
RUZHOU CITY XINYUAN INVES    6.30      09/16/21    CNY    50.66
SANMEN COUNTY STATE-OWNED    6.85      10/29/21    CNY    40.86
SANMEN COUNTY STATE-OWNED    6.80      03/18/22    CNY    40.58
SANMEN COUNTY STATE-OWNED    6.80      03/18/22    CNY    40.00
SANMEN COUNTY STATE-OWNED    6.85      10/29/21    CNY    40.00
SANMING TRANSPORTATION CO    3.68      03/29/23    CNY    59.44
SHAANXI ANKANG HIGH TECH     8.78      09/17/21    CNY    47.00
SHAANXI ANKANG HIGH TECH     8.78      09/17/21    CNY    40.68
SHAANXI XIXIAN NEW AREA F    6.85      08/15/21    CNY    45.50
SHAANXI XIXIAN NEW AREA F    6.85      08/15/21    CNY    40.42
SHAANXI XIXIAN NEW AREA J    6.89      01/05/22    CNY    43.10
SHAANXI XIXIAN NEW AREA J    6.89      01/05/22    CNY    40.80
SHAANXI XIXIAN NEW AREA Q    5.15      11/27/22    CNY    61.01
SHAANXI XIXIAN NEW AREA Q    5.15      11/27/22    CNY    60.06
SHANDONG BORUN INDUSTRIAL    6.50      11/02/21    CNY    66.04
SHANDONG BOXING COUNTY XI    8.00      12/22/21    CNY    41.95
SHANDONG BOXING COUNTY XI    8.00      12/22/21    CNY    41.24
SHANDONG CENTURY SUNSHINE    8.19      07/21/21    CNY    40.77
SHANDONG CENTURY SUNSHINE    8.19      07/21/21    CNY    20.78
SHANDONG FUYU CHEMICAL CO    7.70      09/18/22    CNY    70.00
SHANDONG GAOCHUANG CONSTR    6.05      06/18/22    CNY    42.45
SHANDONG GAOCHUANG CONSTR    6.05      06/18/22    CNY    41.01
SHANDONG HONGHE HOLDINGS     8.50      06/23/21    CNY    24.00
SHANDONG HONGHE HOLDINGS     8.50      06/23/21    CNY    20.78
SHANDONG JINMAO TEXTILE C    8.00      09/25/20    CNY    35.84
SHANDONG JINMAO TEXTILE C    6.97      04/01/21    CNY    20.70
SHANDONG RENCHENG RONGXIN    7.30      10/18/20    CNY    23.40
SHANDONG RENCHENG RONGXIN    7.30      10/18/20    CNY    20.10
SHANDONG RUYI TECHNOLOGY     7.90      09/18/23    CNY    52.10
SHANDONG SNTON GROUP CO L    6.20      05/30/21    CNY     9.50
SHANDONG SNTON GROUP CO L    5.18      09/08/21    CNY     8.52
SHANDONG TAIYANG INDUSTRY    5.97      03/02/21    CNY    42.86
SHANDONG TENGJIAN INVESTM    6.00      06/08/22    CNY    40.36
SHANDONG TENGJIAN INVESTM    6.00      06/08/22    CNY    40.00
SHANDONG WANTONG PETROLEU    7.97      11/29/21    CNY    18.95
SHANGHAI CAOHEJING HI-TEC    7.24      04/09/21    CNY    20.42
SHANGHAI CAOHEJING HI-TEC    7.24      04/09/21    CNY    20.42
SHANGHAI JIADING ROAD CON    6.80      04/23/21    CNY    20.75
SHANGHAI JIADING ROAD CON    6.80      04/23/21    CNY    20.52
SHANGHAI LAKE DIANSHAN NE    5.95      01/30/21    CNY    25.75
SHANGHAI LAKE DIANSHAN NE    5.95      01/30/21    CNY    25.27
SHANGHAI MINHANG URBAN CO    5.63      04/20/22    CNY    40.90
SHANGHAI MINHANG URBAN CO    5.63      04/20/22    CNY    40.79
SHANGHAI MUNICIPAL INVEST    4.80      11/05/24    CNY    71.64
SHANGHAI NANHUI URBAN CON    6.04      08/20/21    CNY    40.68
SHANGHAI NANHUI URBAN CON    6.04      08/20/21    CNY    40.49
SHANGHAI PUTAILAI NEW ENE    5.50      03/19/21    CNY    66.67
SHANGHAI URBAN CONSTRUCTI    3.50      01/06/23    CNY    61.07
SHANGHAI URBAN CONSTRUCTI    3.50      01/06/23    CNY    59.75
SHANGLUO CITY CONSTRUCTIO    7.05      09/09/20    CNY    25.40
SHANGLUO CITY CONSTRUCTIO    7.05      09/09/20    CNY    20.14
SHANGRAO CITY STATE-OWNED    4.65      01/29/23    CNY    60.80
SHANGRAO CITY STATE-OWNED    4.65      01/29/23    CNY    60.34
SHANTOU CITY CONSTRUCTION    8.57      03/23/22    CNY    31.53
SHANTOU INVESTMENT & FINA    7.99      03/04/24    CNY    64.64
SHANXI INTERNATIONAL ELEC    5.88      05/24/22    CNY    62.60
SHANXI XIANG KUANG GROUP     8.80      02/11/22    CNY    69.90
SHANXI XIANG KUANG GROUP     8.80      02/11/22    CNY    54.50
SHAOWU URBAN CONSTRUCTION    5.88      09/11/22    CNY    63.39
SHAOWU URBAN CONSTRUCTION    5.88      09/11/22    CNY    60.54
SHAOXING CHENGZHONGCUN RE    6.09      04/27/22    CNY    40.83
SHAOXING CHENGZHONGCUN RE    6.09      04/27/22    CNY    40.00
SHAOXING CITY INVESTMENT     5.75      04/17/22    CNY    48.00
SHAOXING CITY INVESTMENT     5.75      04/17/22    CNY    41.35
SHAOXING CITY KEQIAO DIST    6.40      08/20/21    CNY    40.62
SHAOXING JINGHU NEW DISTR    6.13      04/30/22    CNY    41.07
SHAOXING KEQIAO ECONOMIC     7.00      12/10/21    CNY    40.93
SHAOXING KEQIAO ECONOMIC     7.00      12/10/21    CNY    40.00
SHAOXING KEYAN CONSTRUCTI    6.28      03/24/22    CNY    41.56
SHAOXING KEYAN CONSTRUCTI    6.28      03/24/22    CNY    40.00
SHAOXING PAOJIANG INDUSTR    6.98      05/29/21    CNY    23.90
SHAOXING PAOJIANG INDUSTR    6.98      05/29/21    CNY    20.32
SHAOXING SHANGYU ECONOMIC    4.76      04/11/23    CNY    60.33
SHAOXING SHANGYU ECONOMIC    4.76      04/11/23    CNY    60.32
SHAOXING SHANGYU HANGZHOU    6.95      10/11/20    CNY    20.55
SHAOXING SHANGYU HANGZHOU    6.95      10/11/20    CNY    20.12
SHAOXING SHANGYU URBAN CO    6.80      08/07/21    CNY    40.61
SHAOYANG CITY CONSTRUCTIO    8.58      01/17/21    CNY    20.32
SHAOYANG DULIANG INVESTME    5.50      04/13/23    CNY    59.77
SHAOYANG DULIANG INVESTME    5.50      04/13/23    CNY    57.99
SHENGZHOU INVESTMENT HOLD    7.60      07/17/21    CNY    20.78
SHENGZHOU INVESTMENT HOLD    7.60      07/17/21    CNY    20.69
SHENMU CITY STATE-OWNED A    7.28      06/23/21    CNY    20.53
SHENYANG DADONG STATE-OWN    6.05      03/20/22    CNY    41.00
SHENYANG DADONG STATE-OWN    6.05      03/20/22    CNY    40.00
SHENYANG ECONOMIC AFFORDA    7.17      04/29/22    CNY    41.26
SHENYANG ECONOMIC AFFORDA    7.17      04/29/22    CNY    39.73
SHENYANG TIEXI STATE-OWNE    6.00      01/14/22    CNY    47.50
SHENYANG TIEXI STATE-OWNE    6.00      01/14/22    CNY    40.59
SHENZHEN METRO GROUP CO L    6.75      01/24/24    CNY    63.79
SHENZHEN METRO GROUP CO L    5.40      03/25/23    CNY    46.42
SHIJIAZHUANG HUTUO NEW DI    5.28      12/24/25    CNY    63.25
SHIJIAZHUANG HUTUO NEW DI    5.28      12/24/25    CNY    62.50
SHIJIAZHUANG STATE-OWNED     5.75      04/09/22    CNY    47.20
SHIJIAZHUANG STATE-OWNED     5.75      04/09/22    CNY    40.91
SHIJIAZHUANG URBAN CONSTR    6.55      03/09/21    CNY    41.40
SHISHI CITY CONSTRUCTION     6.10      05/04/22    CNY    41.17
SHIYAN STATE-OWNED CAPITA    6.58      08/20/21    CNY    40.71
SHIYAN STATE-OWNED CAPITA    6.58      08/20/21    CNY    40.00
SHIYAN STATE-OWNED CAPITA    6.88      10/11/20    CNY    20.68
SHIYAN STATE-OWNED CAPITA    6.88      10/11/20    CNY    20.12
SHOUGUANG CITY CONSTRUCTI    7.10      10/18/20    CNY    22.87
SHOUGUANG CITY CONSTRUCTI    7.10      10/18/20    CNY    20.07
SHUCHENG COUNTY URBAN CON    5.50      04/29/23    CNY    61.24
SHUCHENG COUNTY URBAN CON    5.50      04/29/23    CNY    61.23
SHUYANG JINGYUAN ASSET OP    5.49      09/11/22    CNY    66.00
SHUYANG JINGYUAN ASSET OP    5.49      09/11/22    CNY    60.53
SHUYANG JINGYUAN ASSET OP    7.39      04/14/21    CNY    20.47
SHUYANG JINGYUAN ASSET OP    7.39      04/14/21    CNY    20.00
SICHUAN CHENG'A DEVELOPME    7.18      09/12/20    CNY    20.06
SICHUAN COAL GASIFICATION    7.00      04/18/23    CNY    60.32
SICHUAN COAL INDUSTRY GRO    7.70      01/09/18    CNY    45.00
SICHUAN LANGZHONG FAMOUS     5.60      04/19/23    CNY    59.85
SICHUAN LANGZHONG FAMOUS     5.60      04/19/23    CNY    59.51
SICHUAN LONGYANG TIANFU N    5.45      05/27/23    CNY    60.87
SICHUAN LONGYANG TIANFU N    5.45      05/27/23    CNY    59.92
SICHUAN NAXING INDUSTRIAL    6.80      08/18/22    CNY    74.73
SICHUAN NAXING INDUSTRIAL    6.80      08/18/22    CNY    74.72
SICHUAN NAXING INDUSTRIAL    4.68      03/31/23    CNY    58.53
SICHUAN NAXING INDUSTRIAL    4.68      03/31/23    CNY    57.62
SICHUAN NAXING INDUSTRIAL    7.17      09/11/21    CNY    40.42
SICHUAN TIANYIN INDUSTRIA    6.79      03/25/22    CNY    48.00
SICHUAN TIANYIN INDUSTRIA    6.79      03/25/22    CNY    40.84
SIHONG COUNTY HONG YUAN P    6.15      03/16/22    CNY    40.77
SIHONG COUNTY HONG YUAN P    6.15      03/16/22    CNY    40.00
SIHUI STATE OWNED ASSETS     4.59      01/14/23    CNY    59.73
SIHUI STATE OWNED ASSETS     4.59      01/14/23    CNY    59.30
SIYANG COUNTY MINKANG RUR    4.94      01/21/23    CNY    60.56
SIYANG COUNTY MINKANG RUR    4.94      01/21/23    CNY    60.06
SLENDER WEST LAKE TOURISM    6.80      06/25/21    CNY    20.58
SLENDER WEST LAKE TOURISM    6.80      06/25/21    CNY    20.00
SONGYUAN URBAN DEVELOPMEN    5.79      12/04/21    CNY    40.78
SONGYUAN URBAN DEVELOPMEN    5.79      12/04/21    CNY    40.63
SUINING CITY HEDONG DEVEL    8.36      04/17/21    CNY    27.82
SUINING CITY HEDONG DEVEL    8.36      04/17/21    CNY    20.58
SUINING COUNTY RUNQI INVE    5.42      11/20/22    CNY    60.45
SUINING COUNTY RUNQI INVE    5.42      11/20/22    CNY    60.00
SUINING COUNTY RUNQI INVE    7.10      06/25/21    CNY    20.42
SUINING FUYUAN INDUSTRY C    6.39      03/17/22    CNY    44.18
SUINING FUYUAN INDUSTRY C    6.39      03/17/22    CNY    39.85
SUINING KAIDA INVESTMENT     4.89      04/08/23    CNY    59.19
SUINING KAIDA INVESTMENT     4.89      04/08/23    CNY    58.41
SUINING KAIDA INVESTMENT     8.69      04/21/21    CNY    20.48
SUINING KAIDA INVESTMENT     8.69      04/21/21    CNY    20.00
SUIZHOU DEVELOPMENT INVES    8.50      12/20/20    CNY    21.83
SUIZHOU DEVELOPMENT INVES    8.40      04/30/21    CNY    20.71
SUIZHOU DEVELOPMENT INVES    8.40      04/30/21    CNY    20.70
SUIZHOU DEVELOPMENT INVES    8.50      12/20/20    CNY    20.38
SUIZHOU HIGH-TECH INDUSTR    4.47      03/25/23    CNY    59.55
SUIZHOU HIGH-TECH INDUSTR    4.47      03/25/23    CNY    59.17
SUIZHOU URBAN CONSTRUCTIO    7.18      09/02/21    CNY    41.20
SUIZHOU URBAN CONSTRUCTIO    7.18      09/02/21    CNY    40.67
SUIZHOU YULONG WATER SUPP    6.10      03/28/23    CNY    59.76
SUNSHINE KAIDI NEW ENERGY    6.12      08/23/20    CNY    40.06
SUNSHINE KAIDI NEW ENERGY    6.12      08/23/20    CNY    29.01
SUQIAN CITY CONSTRUCTION     6.88      10/29/20    CNY    20.15
SUZHOU CITY CONSTRUCTION     3.89      03/24/23    CNY    59.97
SUZHOU CITY CONSTRUCTION     3.89      03/24/23    CNY    59.94
SUZHOU CITY HENGCHENG CON    4.40      03/01/23    CNY    60.07
SUZHOU CITY HENGCHENG CON    4.40      03/01/23    CNY    60.06
SUZHOU FENHU INVESTMENT G    7.49      02/28/21    CNY    20.80
SUZHOU FENHU INVESTMENT G    7.49      02/28/21    CNY    20.39
SUZHOU NEW & HIGH-TECH IN    4.18      03/23/23    CNY    59.66
SUZHOU NEW & HIGH-TECH IN    4.18      03/23/23    CNY    59.06
SUZHOU NEW DISTRICT ECONO    6.20      07/22/21    CNY    40.47
SUZHOU WUJIANG COMMUNICAT    6.80      10/31/20    CNY    25.53
SUZHOU WUJIANG COMMUNICAT    6.80      10/31/20    CNY    25.23
SUZHOU WUJIANG DISTRICT I    5.25      07/08/22    CNY    40.98
SUZHOU XIANGCHENG URBAN C    6.95      03/19/21    CNY    22.60
SUZHOU XIANGCHENG URBAN C    6.95      03/19/21    CNY    20.40
TAIAN TAISHAN HOLDINGS CO    5.50      04/26/23    CNY    60.62
TAIAN TAISHAN HOLDINGS CO    5.50      04/26/23    CNY    59.76
TAICANG ASSETS MANAGEMENT    7.00      02/27/21    CNY    20.70
TAICANG ASSETS MANAGEMENT    7.00      02/27/21    CNY    20.16
TAICANG SCIENCE EDUCATION    5.54      08/28/22    CNY    64.65
TAICANG SCIENCE EDUCATION    5.54      08/28/22    CNY    61.22
TAIXING CITY CHENGXING ST    8.30      12/12/20    CNY    20.31
TAIXING CITY HONGQIAO YUA    5.03      10/29/22    CNY    63.87
TAIXING CITY HONGQIAO YUA    5.03      10/29/22    CNY    59.74
TAIYUAN ECONOMIC TECHNOLO    7.43      04/24/21    CNY    20.39
TAIYUAN ECONOMIC TECHNOLO    7.43      04/24/21    CNY    20.00
TAIYUAN HIGH-SPEED RAILWA    5.18      09/06/20    CNY    40.10
TAIYUAN HIGH-SPEED RAILWA    6.50      10/30/20    CNY    25.19
TAIYUAN STATE-OWNED INVES    7.20      03/19/21    CNY    26.50
TAIYUAN STATE-OWNED INVES    7.20      03/19/21    CNY    20.42
TAIZHOU CITY CONSTRUCTION    6.92      10/16/23    CNY    63.45
TAIZHOU HAILING CITY DEVE    4.60      12/14/22    CNY    60.14
TAIZHOU HAILING CITY DEVE    4.60      12/14/22    CNY    60.00
TAIZHOU JIAOJIANG STATE O    6.18      07/06/22    CNY    44.00
TAIZHOU JIAOJIANG STATE O    6.18      07/06/22    CNY    41.27
TAIZHOU JIAOJIANG STATE O    7.46      09/13/20    CNY    26.00
TAIZHOU JIAOJIANG STATE O    7.46      09/13/20    CNY    25.12
TAIZHOU JINDONG URBAN CON    5.10      06/02/23    CNY    60.78
TAIZHOU JINDONG URBAN CON    5.10      06/02/23    CNY    59.56
TAIZHOU JINDONG URBAN CON    7.10      09/03/20    CNY    20.60
TAIZHOU JINDONG URBAN CON    7.10      09/03/20    CNY    20.07
TAIZHOU XINBINJIANG DEVEL    7.60      03/05/21    CNY    21.00
TAIZHOU XINBINJIANG DEVEL    7.60      03/05/21    CNY    20.28
TAIZHOU XINTAI GROUP CO L    4.07      03/23/23    CNY    59.99
TAIZHOU XINTAI GROUP CO L    4.07      03/23/23    CNY    59.95
TANGSHAN CAOFEIDIAN DEVEL    7.50      10/15/20    CNY    20.10
TIANJIN BAOXING INDUSTRY     7.10      10/17/20    CNY    20.19
TIANJIN BAOXING INDUSTRY     7.10      10/17/20    CNY    20.09
TIANJIN BEICHEN DISTRICT     7.00      04/21/21    CNY    27.15
TIANJIN BEICHEN DISTRICT     7.00      04/21/21    CNY    20.22
TIANJIN BEICHEN TECHNOLOG    6.87      08/20/21    CNY    40.06
TIANJIN BINHAI NEW AREA C    6.10      11/23/21    CNY    43.90
TIANJIN BOHAI STATE-OWNED    3.82      04/18/23    CNY    59.69
TIANJIN BOHAI STATE-OWNED    3.82      04/18/23    CNY    59.25
TIANJIN DONGFANG CAIXIN I    5.19      01/29/22    CNY    40.24
TIANJIN DONGFANG CAIXIN I    5.19      01/29/22    CNY    39.59
TIANJIN DONGLI CITY INFRA    4.28      12/02/22    CNY    59.51
TIANJIN ECONOMIC TECHNOLO    6.50      12/03/22    CNY    46.30
TIANJIN ECONOMIC TECHNOLO    6.50      12/03/22    CNY    45.65
TIANJIN GUANGCHENG INVEST    5.40      04/20/23    CNY    58.36
TIANJIN GUANGCHENG INVEST    5.40      04/20/23    CNY    57.75
TIANJIN GUANGCHENG INVEST    7.45      07/24/21    CNY    49.00
TIANJIN GUANGCHENG INVEST    6.97      02/22/23    CNY    44.47
TIANJIN GUANGCHENG INVEST    7.45      07/24/21    CNY    39.74
TIANJIN GUANGCHENG INVEST    6.97      02/22/23    CNY    39.00
TIANJIN HARBOR CONSTRUCTI    6.29      10/21/21    CNY    70.37
TIANJIN HARBOR CONSTRUCTI    8.80      01/24/21    CNY    40.87
TIANJIN HARBOR CONSTRUCTI    8.00      04/01/21    CNY    40.83
TIANJIN HI-TECH INDUSTRY     6.65      09/12/21    CNY    40.36
TIANJIN HUANCHENG URBAN I    5.75      04/27/22    CNY    41.70
TIANJIN HUANCHENG URBAN I    5.75      04/27/22    CNY    40.59
TIANJIN HUANCHENG URBAN I    7.20      03/21/21    CNY    20.35
TIANJIN HUANCHENG URBAN I    7.20      03/21/21    CNY    20.24
TIANJIN INFRASTRUCTURE CO    5.70      02/26/23    CNY    46.10
TIANJIN INFRASTRUCTURE CO    5.70      02/26/23    CNY    46.00
TIANJIN JINNAN CITY CONST    6.50      06/03/21    CNY    20.38
TIANJIN JINNAN CITY CONST    6.50      06/03/21    CNY    20.00
TIANJIN LINGANG INVESTMEN    7.75      02/26/21    CNY    20.20
TIANJIN LINGANG INVESTMEN    7.75      02/26/21    CNY    20.19
TIANJIN NINGHE DISTRICT X    7.00      05/30/21    CNY    27.50
TIANJIN NINGHE DISTRICT X    7.00      05/30/21    CNY    20.44
TIANJIN NINGHE INVESTMENT    5.50      04/22/23    CNY    60.92
TIANJIN NINGHE INVESTMENT    5.50      04/22/23    CNY    60.02
TIANJIN RAILWAY CONSTRUCT    5.58      04/13/25    CNY    73.17
TIANJIN REAL ESTATE TRUST    8.59      03/13/21    CNY    20.39
TIANJIN RESIDENTIAL CONST    8.00      12/19/20    CNY    20.03
TIANJIN STATE-OWNED CAPIT    1.60      12/17/39    USD    73.92
TIANJIN WATER INVESTMENT     6.60      07/28/21    CNY    41.80
TIANJIN WATER INVESTMENT     6.60      07/28/21    CNY    39.20
TIANJIN WATER INVESTMENT     8.40      01/15/21    CNY    24.94
TIANJIN WUQING STATE-OWNE    4.15      11/17/22    CNY    60.60
TIANJIN WUQING STATE-OWNE    4.15      11/17/22    CNY    59.77
TIANJIN WUQING STATE-OWNE    8.00      12/17/20    CNY    20.76
TIANJIN WUQING STATE-OWNE    7.18      03/19/21    CNY    20.40
TIANJIN WUQING STATE-OWNE    8.00      12/17/20    CNY    20.34
TIANJIN WUQING STATE-OWNE    7.18      03/19/21    CNY    20.32
TIANMEN CITY CONSTRUCTION    8.20      08/28/21    CNY    45.16
TIANMEN CITY CONSTRUCTION    8.20      08/28/21    CNY    41.00
TIANRUI GROUP CEMENT CO L    5.95      09/25/20    CNY    50.00
TONGLING CONSTRUCTION INV    4.12      03/14/23    CNY    60.00
TONGLING CONSTRUCTION INV    4.12      03/14/23    CNY    59.63
TONGLING CONSTRUCTION INV    6.98      08/26/20    CNY    22.50
TONGLING CONSTRUCTION INV    6.98      08/26/20    CNY    20.09
TONGLU STATE-OWNED ASSET     8.09      04/18/21    CNY    20.98
TONGLU STATE-OWNED ASSET     8.09      04/18/21    CNY    20.61
TSINGHUA UNIGROUP CO LTD     5.20      12/10/23    CNY    65.51
TULUFAN DISTRICT STATE-OW    6.20      03/19/22    CNY    41.38
TULUFAN DISTRICT STATE-OW    6.20      03/19/22    CNY    40.85
TUNGHSU GROUP CO LTD         6.55      03/13/22    CNY    45.00
ULANQAB CITY INVESTMENT D    8.39      04/25/22    CNY    51.68
ULANQAB JINING DISTRICT G    6.16      03/24/23    CNY    61.51
ULANQAB JINING DISTRICT G    6.16      03/24/23    CNY    58.74
URUMQI ECO&TECH DEVELOPME    6.40      04/13/22    CNY    41.19
URUMQI ECO&TECH DEVELOPME    6.40      04/13/22    CNY    40.00
WAFANGDIAN COASTAL PROJEC    3.98      02/01/23    CNY    58.46
WAFANGDIAN COASTAL PROJEC    3.98      02/01/23    CNY    58.28
WANGCHENG ECONOMIC DEVELO    3.75      07/13/23    CNY    61.05
WANGCHENG ECONOMIC DEVELO    3.75      07/13/23    CNY    59.77
WANGCHENG ECONOMIC DEVELO    6.57      01/22/22    CNY    48.81
WANGCHENG ECONOMIC DEVELO    6.57      01/22/22    CNY    41.07
WEIFANG BINHAI INVESTMENT    6.16      04/16/21    CNY    25.35
WEIHAI LANCHUANG CONSTRUC    4.80      12/17/22    CNY    59.39
WEIHAI LANCHUANG CONSTRUC    4.80      12/17/22    CNY    59.18
WEIHAI URBAN CONSTRUCTION    3.33      03/02/23    CNY    59.13
WEIHAI URBAN CONSTRUCTION    3.33      03/02/23    CNY    58.40
WEIHAI WENDENG URBAN PROP    4.80      05/26/23    CNY    59.02
WEIHAI WENDENG URBAN PROP    4.80      05/26/23    CNY    58.50
WEINAN CITY INVESTMENT GR    6.09      03/11/22    CNY    40.86
WEINAN CITY INVESTMENT GR    6.09      03/11/22    CNY    40.00
WENDENG GOLDEN BEACH INVE    3.97      03/21/23    CNY    59.41
WENDENG GOLDEN BEACH INVE    3.97      03/21/23    CNY    58.48
WENZHOU CITY CONSTRUCTION    5.00      04/26/23    CNY    61.78
WENZHOU CITY CONSTRUCTION    5.00      04/26/23    CNY    61.45
WENZHOU CITY CONSTRUCTION    4.05      01/25/23    CNY    60.69
WENZHOU CITY CONSTRUCTION    4.05      01/25/23    CNY    60.22
WENZHOU GANGCHENG DEVELOP    5.19      03/29/23    CNY    60.46
WENZHOU GANGCHENG DEVELOP    5.19      03/29/23    CNY    60.19
WENZHOU HIGH-TECH INDUSTR    7.30      05/30/21    CNY    20.63
WENZHOU HIGH-TECH INDUSTR    7.30      05/30/21    CNY    20.60
WENZHOU HIGH-TECH INDUSTR    7.95      03/21/21    CNY    20.60
WENZHOU HIGH-TECH INDUSTR    7.95      03/21/21    CNY    20.59
WENZHOU LUCHENG CITY DEVE    5.58      11/03/21    CNY    40.40
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 CONSTRUCTION I    8.19      04/21/21    CNY    20.50
WUHAI CITY CONSTRUCTION I    8.19      04/21/21    CNY     5.39
WUHAN CHEDU CORP LTD         7.18      02/27/21    CNY    20.96
WUHAN CHEDU CORP LTD         7.18      02/27/21    CNY    20.38
WUHAN CITY HUANPI DISTRIC    6.43      09/17/21    CNY    43.02
WUHAN CITY HUANPI DISTRIC    6.43      09/17/21    CNY    40.68
WUHAN JIANGXIA URBAN CONS    4.80      06/03/23    CNY    60.53
WUHAN JIANGXIA URBAN CONS    4.80      06/03/23    CNY    60.32
WUHAN JIANGXIA URBAN CONS    8.99      01/20/21    CNY    20.40
WUHAN METRO GROUP CO LTD     5.25      04/14/22    CNY    40.46
WUHU COMMUNICATIONS INVES    4.50      04/28/23    CNY    60.05
WUHU COMMUNICATIONS INVES    4.50      04/28/23    CNY    59.99
WUHU COUNTY CONSTRUCTION     6.60      12/08/21    CNY    46.35
WUHU COUNTY CONSTRUCTION     6.60      12/08/21    CNY    40.70
WUHU JINGHU CONSTRUCTION     4.37      07/20/23    CNY    59.59
WUHU JIUJIANG CONSTRUCTIO    3.96      03/21/23    CNY    59.78
WUHU JIUJIANG CONSTRUCTIO    8.49      04/14/21    CNY    20.68
WUHU JIUJIANG CONSTRUCTIO    8.49      04/14/21    CNY    20.00
WUHU XINMA INVESTMENT CO     4.87      11/04/22    CNY    60.56
WUHU XINMA INVESTMENT CO     4.87      11/04/22    CNY    59.50
WUHU YIJU INVESTMENT GROU    6.45      08/11/21    CNY    41.45
WUHU YIJU INVESTMENT GROU    6.45      08/11/21    CNY    40.69
WUWEI CITY ECONOMY DEVELO    8.20      04/24/21    CNY    20.51
WUWEI CITY ECONOMY DEVELO    8.20      12/09/20    CNY    20.40
WUWEI CITY ECONOMY DEVELO    8.20      12/09/20    CNY    20.27
WUWEI CITY ECONOMY DEVELO    8.20      04/24/21    CNY    20.10
WUXI HUIKAI ECONOMIC DEVE    4.16      04/08/23    CNY    60.07
WUXI HUIKAI ECONOMIC DEVE    4.16      04/08/23    CNY    59.83
WUXI HUNING METRO HUISHAN    4.38      06/08/21    CNY    40.45
WUXI HUNING METRO HUISHAN    4.38      06/08/21    CNY    40.02
WUXI MUNICIPAL DEVELOPMEN    6.10      10/11/20    CNY    20.13
WUXI MUNICIPAL DEVELOPMEN    6.10      10/11/20    CNY    20.11
WUXI TAIHU NEW CITY DEVEL    4.49      05/03/23    CNY    61.05
WUXI TAIHU NEW CITY DEVEL    4.49      05/03/23    CNY    60.64
WUYANG CONSTRUCTION GROUP    7.80      09/11/20    CNY    32.48
WUZHONG URBAN RURAL CONST    7.18      10/12/20    CNY    20.12
WUZHONG URBAN RURAL CONST    7.18      10/12/20    CNY    20.11
XIAMEN TORCH GROUP CO LTD    7.49      04/21/21    CNY    20.53
XIAN FENGDONG DEVELOPMENT    4.67      01/08/23    CNY    59.46
XIAN FENGDONG DEVELOPMENT    4.67      01/08/23    CNY    59.46
XI'AN INTERNATIONAL HORTI    6.20      10/21/21    CNY    41.46
XI'AN INTERNATIONAL HORTI    6.20      10/21/21    CNY    40.40
XI'AN INTERNATIONAL INLAN    7.90      09/23/21    CNY    42.28
XIANGSHUI GUANJIANG HOLDI    4.98      12/24/22    CNY    63.20
XIANGSHUI GUANJIANG HOLDI    4.98      12/24/22    CNY    59.68
XIANGTAN CITY CONSTRUCTIO    7.60      04/02/22    CNY    64.80
XIANGTAN HI-TECH GROUP CO    8.16      02/25/21    CNY    28.99
XIANGTAN HI-TECH GROUP CO    8.16      02/25/21    CNY    20.17
XIANGTAN JIUHUA ECONOMIC     6.59      01/21/22    CNY    37.79
XIANGTAN JIUHUA ECONOMIC     7.15      10/15/20    CNY    19.75
XIANGTAN JIUHUA ECONOMIC     7.15      10/15/20    CNY    19.73
XIANGTAN LIANGXING SOCIET    7.89      04/23/21    CNY    20.26
XIANGTAN WANLOU XINCHENG     6.90      01/14/22    CNY    39.96
XIANGTAN ZHENXIANG STATE-    6.60      08/07/20    CNY    20.00
XIANGTAN ZHENXIANG STATE-    6.60      08/07/20    CNY    19.99
XIANGXIANG URBAN CONSTRUC    5.84      05/18/23    CNY    60.30
XIANGXIANG URBAN CONSTRUC    5.84      05/18/23    CNY    59.54
XIANGYANG CITY XIANGZHOU     5.18      04/28/23    CNY    60.88
XIANGYANG CITY XIANGZHOU     5.18      04/28/23    CNY    60.66
XIANGYANG HIGH TECH STATE    7.00      05/29/21    CNY    23.38
XIANGYANG HIGH TECH STATE    7.00      05/29/21    CNY    20.42
XIANGYANG STATE-OWNED CAP    4.62      01/25/23    CNY    60.15
XIANGYANG STATE-OWNED CAP    4.62      01/25/23    CNY    59.97
XIANNING HIGH-TECH INVEST    6.29      02/10/22    CNY    45.00
XIANNING HIGH-TECH INVEST    6.29      02/10/22    CNY    40.60
XIANTAO CITY CONSTRUCTION    4.59      04/18/23    CNY    60.27
XIANTAO CITY CONSTRUCTION    4.59      04/18/23    CNY    59.95
XIANTAO CITY CONSTRUCTION    8.15      02/24/21    CNY    20.50
XIANTAO CITY CONSTRUCTION    8.15      02/24/21    CNY    20.45
XIAOGAN GAOCHUANG INVESTM    6.87      09/22/21    CNY    46.69
XIAOGAN GAOCHUANG INVESTM    6.87      09/22/21    CNY    40.46
XIAOGAN GAOCHUANG INVESTM    7.43      06/23/21    CNY    32.72
XIAOGAN GAOCHUANG INVESTM    7.43      06/23/21    CNY    20.52
XIAOGAN URBAN CONSTRUCTIO    3.94      07/05/21    CNY    63.12
XIAOGAN URBAN CONSTRUCTIO    6.89      05/29/21    CNY    20.51
XIAOXIAN COUNTY DEVELOPME    4.85      06/22/23    CNY    60.54
XIAOXIAN COUNTY DEVELOPME    4.85      06/22/23    CNY    60.42
XINDONGGANG HOLDING GROUP    5.53      04/27/23    CNY    60.16
XINDONGGANG HOLDING GROUP    5.53      04/27/23    CNY    59.81
XINGAN LEAGUE URBAN DEVEL    6.18      12/21/22    CNY    42.71
XINGAN LEAGUE URBAN DEVEL    6.18      12/21/22    CNY    41.82
XINGHUA CITY ECONOMIC DEV    5.28      06/13/22    CNY    49.71
XINGHUA CITY ECONOMIC DEV    5.28      06/13/22    CNY    49.21
XINGYI XINHENG URBAN CONS    5.40      12/16/22    CNY    60.00
XINGYI XINHENG URBAN CONS    5.40      12/16/22    CNY    58.46
XINJIANG KAIDI INVESTMENT    7.80      04/22/21    CNY    21.35
XINJIANG KAIDI INVESTMENT    7.80      04/22/21    CNY    20.40
XINMI CAIYUAN CITY CONSTR    4.35      02/28/23    CNY    59.83
XINMI CAIYUAN CITY CONSTR    4.35      02/28/23    CNY    59.81
XINMIN CITY LUXIN MUNICIP    6.41      07/29/21    CNY    34.44
XINMIN CITY LUXIN MUNICIP    6.41      07/29/21    CNY    33.49
XINTAI CITY COORDINATING     6.35      03/23/22    CNY    40.75
XINTAI CITY COORDINATING     6.35      03/23/22    CNY    40.73
XINYANG HONGCHANG PIPE GA    6.49      06/20/20    CNY    72.87
XINYANG HUAXIN INVESTMENT    7.55      04/15/21    CNY    26.30
XINYANG HUAXIN INVESTMENT    7.55      04/15/21    CNY    20.49
XINYI CITY INVESTMENT & D    4.30      01/19/23    CNY    60.00
XINYI CITY INVESTMENT & D    4.30      01/19/23    CNY    59.27
XINYI CITY INVESTMENT & D    7.39      10/15/20    CNY    20.32
XINYI CITY INVESTMENT & D    7.39      10/15/20    CNY    20.14
XINYI URBAN TRANSPORTATIO    6.14      02/06/22    CNY    41.53
XINYI URBAN TRANSPORTATIO    6.14      02/06/22    CNY    40.93
XINYU CHENGDONG CONSTRUCT    8.48      05/27/21    CNY    27.00
XINYU CITY SHANTYTOWN ZON    6.42      12/09/20    CNY    40.24
XINYU CITY YUSHUI DISTRIC    7.70      06/24/22    CNY    41.39
XINYU CITY YUSHUI DISTRIC    7.70      06/24/22    CNY    40.95
XINZHENG NEW DISTRICT DEV    6.40      01/29/21    CNY    25.25
XINZHOU ASSET MANAGEMENT     7.90      02/21/21    CNY    21.07
XINZHOU ASSET MANAGEMENT     7.90      02/21/21    CNY    20.37
XINZHOU ASSET MANAGEMENT     8.50      12/18/20    CNY    20.28
XIUSHAN INDUSTRY DEVELOPM    5.85      04/14/23    CNY    60.10
XIUSHAN INDUSTRY DEVELOPM    5.85      04/14/23    CNY    59.32
XIWANG GROUP CO LTD          7.80      12/03/22    CNY    49.94
XUANCHENG CITY ECONOMY DE    7.95      09/22/21    CNY    46.00
XUANCHENG CITY ECONOMY DE    7.95      09/22/21    CNY    40.78
XUANCHENG STATE-OWNED ASS    4.12      04/07/23    CNY    60.32
XUANCHENG STATE-OWNED ASS    4.12      04/07/23    CNY    60.15
XUANCHENG STATE-OWNED ASS    7.95      03/27/21    CNY    26.00
XUANCHENG STATE-OWNED ASS    7.95      03/27/21    CNY    20.67
XUZHOU BOCHANT DEVELOPMEN    5.69      07/28/21    CNY    66.34
XUZHOU CITY JIAWANG CONST    4.00      03/23/23    CNY    59.60
XUZHOU CITY TONGSHAN DIST    5.23      09/18/22    CNY    61.00
XUZHOU CITY TONGSHAN DIST    5.23      09/18/22    CNY    60.78
XUZHOU CITY TONGSHAN DIST    6.60      08/08/20    CNY    20.66
XUZHOU CITY TONGSHAN DIST    6.60      08/08/20    CNY    20.03
XUZHOU ECONOMIC TECHNOLOG    7.35      04/21/21    CNY    20.49
XUZHOU HI-TECH INDUSTRIAL    7.86      04/22/21    CNY    31.50
XUZHOU HI-TECH INDUSTRIAL    7.86      04/22/21    CNY    20.59
XUZHOU TRANSPORTATION HOL    7.09      05/15/21    CNY    21.00
XUZHOU TRANSPORTATION HOL    7.09      05/15/21    CNY    20.60
XUZHOU XINSHENG INVESTMEN    5.13      08/12/22    CNY    64.46
XUZHOU XINSHENG INVESTMEN    5.13      08/12/22    CNY    61.06
YA'AN DEVELOPMENT INVESTM    7.00      09/13/20    CNY    20.05
YA'AN DEVELOPMENT INVESTM    7.00      09/13/20    CNY    20.05
YANCHENG CITY TINGHU DIST    7.95      11/15/20    CNY    20.15
YANCHENG CITY TINGHU DIST    7.95      11/15/20    CNY    18.30
YANCHENG DAFENG DISTRICT     8.70      01/24/21    CNY    20.97
YANCHENG DAFENG DISTRICT     8.50      12/30/20    CNY    20.60
YANCHENG DAFENG DISTRICT     8.70      01/24/21    CNY    20.44
YANCHENG DAFENG DISTRICT     8.50      12/30/20    CNY    20.37
YANCHENG HIGH-TECH ZONE I    3.90      12/14/22    CNY    60.40
YANCHENG HIGH-TECH ZONE I    3.90      12/14/22    CNY    60.05
YANCHENG ORIENTAL INVESTM    6.48      09/15/21    CNY    40.33
YANCHENG SOUTH DISTRICT D    6.70      07/30/21    CNY    40.63
YANCHENG YANDU DISTRICT S    3.67      03/17/23    CNY    58.92
YANCHENG YANDU DISTRICT S    3.67      03/17/23    CNY    58.56
YANGJIANG HENGCAI CITY IN    6.24      04/14/22    CNY    41.17
YANGJIANG HENGCAI CITY IN    6.85      09/09/20    CNY    20.15
YANGJIANG HENGCAI CITY IN    6.85      09/09/20    CNY    20.07
YANGZHONG CITY INVESTMENT    5.15      06/03/23    CNY    60.95
YANGZHONG TRANSPORTATION     4.98      04/07/23    CNY    60.70
YANGZHONG TRANSPORTATION     4.98      04/07/23    CNY    60.43
YANGZHONG TRANSPORTATION     4.95      04/07/23    CNY    60.36
YANGZHONG TRANSPORTATION     4.95      04/07/23    CNY    59.55
YANGZHOU CHEMICAL INDUSTR    8.58      01/24/21    CNY    26.00
YANGZHOU CHEMICAL INDUSTR    8.58      01/24/21    CNY    20.40
YANGZHOU ECONOMIC & TECHN    7.40      03/05/21    CNY    40.89
YANGZHOU ECONOMIC & TECHN    7.40      03/05/21    CNY    40.00
YANGZHOU HANJIANG CONSTRU    5.88      06/15/22    CNY    46.63
YANGZHOU HANJIANG CONSTRU    5.88      06/15/22    CNY    41.14
YANGZHOU JIANGDU YANJIANG    7.48      07/29/20    CNY    25.03
YANGZHOU JIANGDU YANJIANG    7.48      07/29/20    CNY    25.00
YI CHENG CONSTRUCTION INV    5.44      04/27/23    CNY    60.03
YI ZHENG CITY DEVELOPMENT    4.63      01/08/23    CNY    60.00
YI ZHENG CITY DEVELOPMENT    4.63      01/08/23    CNY    59.99
YI ZHENG CITY DEVELOPMENT    8.60      01/09/21    CNY    29.30
YI ZHENG CITY DEVELOPMENT    8.60      01/09/21    CNY    20.30
YICHANG HIGH-TECH INVESTM    4.80      12/15/22    CNY    60.63
YICHANG HIGH-TECH INVESTM    4.80      12/15/22    CNY    60.00
YICHUN URBAN CONSTRUCTION    7.09      05/15/21    CNY    23.47
YICHUN URBAN CONSTRUCTION    7.09      05/15/21    CNY    20.47
YICHUN VENTURE CAPITAL CO    6.70      03/23/22    CNY    40.70
YICHUN VENTURE CAPITAL CO    6.70      03/23/22    CNY    40.61
YIHUA ENTERPRISE GROUP CO    7.00      04/29/22    CNY    54.00
YIHUA ENTERPRISE GROUP CO    6.80      03/15/21    CNY    47.99
YIHUA ENTERPRISE GROUP CO    5.99      11/26/20    CNY    30.00
YIHUA LIFESTYLE TECHNOLOG    6.88      07/16/20    CNY    35.90
YIHUA LIFESTYLE TECHNOLOG    6.88      07/23/20    CNY    35.00
YILI KAZAKH AUTONOMOUS PR    7.68      02/28/21    CNY    20.41
YINCHUAN URBAN CONSTRUCTI    6.88      05/12/21    CNY    20.53
YINGKOU COASTAL DEVELOPME    6.45      01/26/22    CNY    40.29
YINGKOU COASTAL DEVELOPME    6.45      01/26/22    CNY    39.17
YINGKOU LAOBIAN CITY CONS    4.98      03/11/23    CNY    60.00
YINGKOU LAOBIAN CITY CONS    5.63      12/16/22    CNY    60.00
YINGKOU LAOBIAN CITY CONS    5.63      12/16/22    CNY    59.79
YINGKOU LAOBIAN CITY CONS    4.98      03/11/23    CNY    58.48
YINGTAN INVESTMENT CO        3.63      08/12/21    CNY    69.99
YINGTAN INVESTMENT CO        7.50      12/12/22    CNY    46.85
YINGTAN INVESTMENT CO        7.50      12/12/22    CNY    46.85
YINGTAN LONGGANG ASSET OP    6.75      07/31/22    CNY    61.18
YINGTAN LONGGANG ASSET OP    6.75      07/31/22    CNY    60.90
YINING CITY STATE OWNED A    5.37      09/24/22    CNY    60.00
YINING CITY STATE OWNED A    5.37      09/24/22    CNY    59.85
YINING CITY STATE OWNED A    8.90      01/23/21    CNY    29.95
YINING CITY STATE OWNED A    8.90      01/23/21    CNY    20.51
YIWU CITY CONSTRUCTION IN    4.31      12/07/22    CNY    60.40
YIWU CITY CONSTRUCTION IN    4.31      12/07/22    CNY    60.27
YIWU URBAN & RURAL NEW CO    4.25      11/24/21    CNY    50.03
YIXING CITY CONSTRUCTION     6.16      03/30/22    CNY    41.10
YIXING CITY CONSTRUCTION     6.16      03/30/22    CNY    40.00
YIXING TUOYE INDUSTRIAL C    7.60      05/28/21    CNY    23.50
YIXING TUOYE INDUSTRIAL C    7.60      05/28/21    CNY    20.37
YIYANG ADVANCED INDUSTRY     7.00      03/30/22    CNY    48.00
YIYANG ADVANCED INDUSTRY     7.00      03/30/22    CNY    40.62
YONG ZHOU CITY CONSTRUCTI    7.30      10/23/20    CNY    20.13
YONGJIA INVESTMENT GROUP     6.50      11/12/21    CNY    40.69
YONGJIA INVESTMENT GROUP     6.50      11/12/21    CNY    40.00
YONGXING YINDU CONSTRUCTI    5.60      03/24/23    CNY    59.86
YONGXING YINDU CONSTRUCTI    5.60      03/24/23    CNY    59.42
YONGZHOU ECONOMIC CONSTRU    3.55      01/14/23    CNY    60.50
YONGZHOU ECONOMIC CONSTRU    3.55      01/14/23    CNY    59.30
YUANAN COUNTY QIFENG CITY    5.50      05/27/23    CNY    59.79
YUANAN COUNTY QIFENG CITY    5.50      05/27/23    CNY    59.79
YUEYANG CITY DONGTING NEW    6.15      03/20/22    CNY    40.39
YUEYANG CITY DONGTING NEW    6.15      03/20/22    CNY    40.18
YUEYANG HUILIN INVESTMENT    5.50      11/03/21    CNY    40.07
YUEYANG HUILIN INVESTMENT    5.50      11/03/21    CNY    40.00
YUEYANG YUNXI CITY CONSTR    6.00      07/08/23    CNY    78.50
YUEYANG YUNXI CITY CONSTR    6.00      07/08/23    CNY    60.28
YUHUAN CITY COMMUNICATION    5.65      11/03/21    CNY    44.50
YUHUAN CITY COMMUNICATION    6.18      03/20/22    CNY    44.47
YUHUAN CITY COMMUNICATION    6.18      03/20/22    CNY    40.83
YUHUAN CITY COMMUNICATION    5.65      11/03/21    CNY    40.55
YUHUAN CITY CONSTRUCTION     5.10      05/03/23    CNY    61.30
YUHUAN CITY CONSTRUCTION     5.10      05/03/23    CNY    60.50
YUNNAN METROPOLITAN CONST    6.77      05/23/21    CNY    20.50
YUYAO CITY CONSTRUCTION I    7.09      05/19/21    CNY    20.63
YUZHOU GENERAL INVESTMENT    4.68      01/19/23    CNY    60.09
YUZHOU GENERAL INVESTMENT    4.68      01/19/23    CNY    60.00
ZAOYANG CITY CONSTRUCTION    5.50      03/22/23    CNY    60.45
ZAOYANG CITY CONSTRUCTION    5.50      03/22/23    CNY    60.43
ZHANGJIAGANG FREE TRADE Z    7.10      08/23/20    CNY    26.04
ZHANGJIAGANG FREE TRADE Z    7.10      08/23/20    CNY    20.05
ZHANGJIAGANG JINCHENG INV    6.88      04/28/21    CNY    20.41
ZHANGJIAJIE ECONOMIC DEVE    7.80      04/17/21    CNY    20.50
ZHANGSHU STATE-OWNED ASSE    4.80      06/22/23    CNY    62.67
ZHANGSHU STATE-OWNED ASSE    4.80      06/22/23    CNY    60.14
ZHANGYE CITY INVESTMENT G    6.92      09/22/21    CNY    40.90
ZHANGYE CITY INVESTMENT G    6.92      09/22/21    CNY    40.70
ZHANGZHOU ECONOMIC DEVELO    6.17      04/27/22    CNY    40.93
ZHANGZHOU ECONOMIC DEVELO    6.17      04/27/22    CNY    40.00
ZHANGZHOU JIULONGJIANG GR    6.48      06/20/21    CNY    20.60
ZHANGZHOU JIULONGJIANG GR    6.48      06/20/21    CNY    20.47
ZHANJIANG INFRASTRUCTURE     6.93      10/21/20    CNY    20.15
ZHAOQING GAOYAO DISTRICT     6.68      04/14/22    CNY    41.28
ZHAOQING GAOYAO DISTRICT     6.68      04/14/22    CNY    40.00
ZHEJIANG BINHAI NEW CITY     4.65      12/23/22    CNY    60.49
ZHEJIANG BINHAI NEW CITY     4.65      12/23/22    CNY    60.00
ZHEJIANG CHANGXING JINGKA    7.99      03/03/21    CNY    30.00
ZHEJIANG CHANGXING JINGKA    7.99      03/03/21    CNY    20.40
ZHEJIANG GUOXING INVESTME    6.94      08/01/21    CNY    48.50
ZHEJIANG GUOXING INVESTME    6.94      08/01/21    CNY    40.52
ZHEJIANG HANGZHOU QINGSHA    7.90      04/23/21    CNY    24.00
ZHEJIANG HANGZHOU QINGSHA    7.90      04/23/21    CNY    20.63
ZHEJIANG HUISHENG INVESTM    4.49      03/15/24    CNY    70.03
ZHEJIANG HUISHENG INVESTM    4.49      03/15/24    CNY    70.00
ZHEJIANG OUHAI CONSTRUCTI    4.83      01/21/23    CNY    60.48
ZHEJIANG OUHAI CONSTRUCTI    4.83      01/21/23    CNY    60.00
ZHEJIANG OUHAI CONSTRUCTI    6.45      04/23/22    CNY    41.06
ZHEJIANG OUHAI CONSTRUCTI    6.45      04/23/22    CNY    40.00
ZHEJIANG PROVINCE XINCHAN    5.88      10/30/21    CNY    41.06
ZHEJIANG PROVINCE XINCHAN    6.95      12/31/21    CNY    41.03
ZHEJIANG PROVINCE XINCHAN    5.88      10/30/21    CNY    40.72
ZHENGZHOU JINGKAI INVESTM    5.48      07/31/22    CNY    61.03
ZHENGZHOU JINGKAI INVESTM    5.48      07/31/22    CNY    60.00
ZHENGZHOU MOUZHONG DEVELO    4.59      04/18/23    CNY    60.45
ZHENGZHOU MOUZHONG DEVELO    4.59      04/18/23    CNY    60.02
ZHENGZHOU MOUZHONG DEVELO    7.48      12/11/21    CNY    46.20
ZHENGZHOU MOUZHONG DEVELO    7.48      12/11/21    CNY    41.08
ZHENJIANG CITY CONSTRUCTI    7.90      12/18/20    CNY    28.50
ZHENJIANG CITY CONSTRUCTI    8.20      01/13/21    CNY    28.49
ZHENJIANG CITY CONSTRUCTI    8.20      01/13/21    CNY    20.39
ZHENJIANG CITY CONSTRUCTI    7.90      12/18/20    CNY    20.30
ZHENJIANG DANTU DISTRICT     5.89      11/03/21    CNY    40.13
ZHENJIANG DANTU DISTRICT     5.89      11/03/21    CNY    39.60
ZHENJIANG NEW AREA URBAN     5.31      07/14/23    CNY    60.81
ZHENJIANG NEW AREA URBAN     5.31      07/14/23    CNY    58.76
ZHENJIANG NEW AREA URBAN     8.35      02/26/21    CNY    20.36
ZHENJIANG NEW AREA URBAN     8.99      01/16/21    CNY    20.34
ZHIJIANG STATE-OWNED ASSE    4.38      03/28/23    CNY    64.70
ZHIJIANG STATE-OWNED ASSE    4.38      03/28/23    CNY    60.49
ZHIJIANG STATE-OWNED ASSE    4.78      01/11/23    CNY    60.00
ZHIJIANG STATE-OWNED ASSE    4.78      01/11/23    CNY    59.87
ZHONGGUANCUN DEVELOPMENT     4.20      08/12/22    CNY    60.42
ZHONGMINTOU LEASING HOLDI    7.55      09/21/21    CNY    49.49
ZHONGRONG XINDA GROUP CO     7.10      01/22/21    CNY    33.70
ZHONGSHAN TRANSPORTATION     5.25      11/26/21    CNY    40.49
ZHONGSHAN TRANSPORTATION     5.25      11/26/21    CNY    40.00
ZHONGTIAN FINANCIAL GROUP    7.00      10/15/20    CNY    23.88
ZHOUKOU INVESTMENT GROUP     7.49      04/21/21    CNY    20.27
ZHOUSHAN DINGHAI CITY CON    6.67      07/20/22    CNY    40.62
ZHOUSHAN DINGHAI STATE-OW    7.13      08/04/21    CNY    41.40
ZHOUSHAN DINGHAI STATE-OW    7.13      08/04/21    CNY    40.70
ZHOUSHAN DINGHAI STATE-OW    7.25      08/31/20    CNY    26.65
ZHOUSHAN DINGHAI STATE-OW    7.25      08/31/20    CNY    25.12
ZHOUSHAN ISLANDS NEW DIST    6.98      10/22/22    CNY    56.42
ZHOUSHAN ISLANDS NEW DIST    6.98      10/22/22    CNY    55.80
ZHOUSHAN PUTUO DISTRICT S    7.18      06/20/22    CNY    41.90
ZHOUSHAN PUTUO DISTRICT S    7.18      06/20/22    CNY    41.66
ZHUHAI HUIHUA INFRASTRUCT    4.70      06/27/23    CNY    60.63
ZHUHAI HUIHUA INFRASTRUCT    4.70      06/27/23    CNY    60.26
ZHUHAI HUIHUA INFRASTRUCT    7.15      09/17/20    CNY    21.15
ZHUHAI HUIHUA INFRASTRUCT    7.15      09/17/20    CNY    20.09
ZHUJI CITY YUEDU INVESTME    6.38      04/07/22    CNY    41.16
ZHUJI CITY YUEDU INVESTME    8.20      12/12/20    CNY    24.50
ZHUJI CITY YUEDU INVESTME    8.20      12/12/20    CNY    20.28
ZHUZHOU CITY CONSTRUCTION    8.36      11/10/21    CNY    43.75
ZHUZHOU CITY CONSTRUCTION    6.95      10/16/20    CNY    20.16
ZHUZHOU GECKOR GROUP CO L    6.95      08/11/21    CNY    40.86
ZHUZHOU GECKOR GROUP CO L    6.38      04/17/22    CNY    40.85
ZHUZHOU GECKOR GROUP CO L    6.95      08/11/21    CNY    40.55
ZHUZHOU GECKOR GROUP CO L    6.38      04/17/22    CNY    40.00
ZHUZHOU RECYCLING ECONOMI    4.38      03/24/23    CNY    57.46
ZHUZHOU RECYCLING ECONOMI    4.38      03/24/23    CNY    57.04
ZHUZHOU XIANGJIANG SCENIC    5.39      11/25/22    CNY    60.78
ZHUZHOU XIANGJIANG SCENIC    5.39      11/25/22    CNY    60.15
ZIBO BANYANG CITY URBAN A    5.50      09/09/22    CNY    60.42
ZIBO BANYANG CITY URBAN A    5.50      09/09/22    CNY    60.00
ZIYANG WATER INVESTMENT C    3.97      03/17/23    CNY    58.74
ZIYANG WATER INVESTMENT C    3.97      03/17/23    CNY    58.46
ZIYANG WATER INVESTMENT C    7.40      10/21/20    CNY    20.15
ZIYANG WATER INVESTMENT C    7.40      10/21/20    CNY    20.00
ZIZHONG COUNTY XINGZI INV    5.97      01/18/23    CNY    59.68
ZIZHONG COUNTY XINGZI INV    5.97      01/18/23    CNY    58.49
ZUNYI ECONOMIC DEVELOPMEN    4.87      01/22/23    CNY    60.00
ZUNYI ECONOMIC DEVELOPMEN    4.87      01/22/23    CNY    57.36
ZUNYI HONGHUAGANG CITY DE    5.05      06/27/23    CNY    59.03
ZUNYI HONGHUAGANG CITY DE    5.05      06/27/23    CNY    56.21
ZUNYI NEW DISTRICT DEVELO    5.99      04/07/26    CNY    69.70
ZUNYI NEW DISTRICT DEVELO    5.99      04/07/26    CNY    67.66
ZUNYI ROAD & BRIDGE CONST    6.10      04/27/23    CNY    57.96
ZUNYI ROAD & BRIDGE CONST    6.10      04/27/23    CNY    52.98


  HONG KONG
  ---------

HNA GROUP INTERNATIONAL C    6.25      10/05/21    USD    75.00
DR PENG HOLDING HONGKONG     7.55      12/01/21    USD    71.48


  INDIA
  -----

ABM INVESTAMA TBK PT         7.13      08/01/22    USD    67.09
ABM INVESTAMA TBK PT         7.13      08/01/22    USD    65.58
BERAU COAL ENERGY TBK PT     7.25      03/13/17    USD    40.00
BERAU COAL ENERGY TBK PT     7.25      03/13/17    USD    40.00
DAVOMAS INTERNATIONAL FIN   11.00      05/09/11    USD     0.44
DAVOMAS INTERNATIONAL FIN   11.00      05/09/11    USD     0.44
DAVOMAS INTERNATIONAL FIN   11.00      12/08/14    USD     0.43
DAVOMAS INTERNATIONAL FIN   11.00      12/08/14    USD     0.43
DELTA MERLIN DUNIA TEKSTI    8.63      03/12/24    USD    10.92
DELTA MERLIN DUNIA TEKSTI    8.63      03/12/24    USD    10.78
GAJAH TUNGGAL TBK PT         8.38      08/10/22    USD    67.77


  INDONESIA
  ---------

3I INFOTECH LTD              2.50      03/31/25    USD     4.27
AMPSOLAR SOLUTION PVT LTD    0.01      10/27/37    INR    24.80
AMPSOLAR SOLUTION PVT LTD    0.01      11/03/37    INR    24.76
APG HABITAT PVT LTD          1.00      09/09/28    INR    58.45
APG INTELLI HOMES PVT LTD    1.25      02/04/35    INR    42.31
APG INTELLI HOMES PVT LTD    1.25      02/04/35    INR    40.52
AUTOMOTIVE EXCHANGE PVT L    4.00      06/01/30    INR    61.94
AUTOMOTIVE EXCHANGE PVT L    4.00      10/11/30    INR    61.78
BRITANNIA INDUSTRIES LTD     8.00      08/28/22    INR    30.95
CREIXENT SPECIAL STEELS L    0.01      08/28/25    INR    66.57
CUMULUS TRADING CO PVT LT    0.01      01/23/30    INR    60.51
CUMULUS TRADING CO PVT LT    0.01      05/21/32    INR    37.55
DEWAN HOUSING FINANCE COR    8.50      04/18/23    INR    26.17
DLF EMPORIO RESTAURANTS L    0.01      06/29/30    INR    44.15
DLF HOME DEVELOPERS LTD      0.01      06/29/30    INR    46.92
EDELWEISS ASSET RECONSTRU    2.00      03/28/27    INR    69.72
EDELWEISS ASSET RECONSTRU    2.00      11/20/27    INR    67.38
EDELWEISS ASSET RECONSTRU    2.00      10/07/28    INR    64.09
EDELWEISS ASSET RECONSTRU    2.00      01/15/29    INR    63.13
EDELWEISS ASSET RECONSTRU    2.00      07/22/29    INR    61.38
FUTURE RETAIL LTD            5.60      01/22/25    USD    64.42
FUTURE RETAIL LTD            5.60      01/22/25    USD    58.28
GREEN URJA PVT LTD           0.01      02/14/30    INR    46.68
GTL INFRASTRUCTURE LTD       6.73      10/26/22    USD     4.00
HINDUSTAN CONSTRUCTION CO    0.01      01/05/27    INR    58.94
HITODI INFRASTRUCTURE LTD    0.01      06/30/27    INR    55.19
INDIABULLS HOUSING FINANC    6.38      05/28/22    USD    72.79
JAIPRAKASH ASSOCIATES LTD    5.75      09/08/17    USD    55.13
JAIPRAKASH POWER VENTURES    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    26.84
JTPM ATSALI LTD              0.01      08/29/48    INR    10.98
KANAKADURGA FINANCE LTD      0.01      04/15/36    INR    25.50
KRIBHCO INFRASTRUCTURE LT    1.00      04/15/26    INR    72.34
MARIS POWER SUPPLY CO PVT    2.00      04/18/28    INR    66.62
MYTRAH AADHYA POWER PVT L    0.01      07/05/35    INR    30.05
MYTRAH ADVAITH POWER PVT     0.01      07/13/36    INR    27.55
MYTRAH AKSHAYA ENERGY PVT    0.01      07/13/36    INR    27.55
ORIGAMI CELLULO PVT LTD      0.01      11/14/36    INR    26.42
PRAKASH INDUSTRIES LTD       5.25      04/30/15    USD    22.63
PUNJAB INFRASTRUCTURE DEV    0.40      10/15/26    INR    70.17
PUNJAB INFRASTRUCTURE DEV    0.40      10/15/27    INR    65.42
PUNJAB INFRASTRUCTURE DEV    0.40      10/15/28    INR    60.97
PUNJAB INFRASTRUCTURE DEV    0.40      10/15/29    INR    56.83
PUNJAB INFRASTRUCTURE DEV    0.40      10/15/30    INR    53.01
PUNJAB INFRASTRUCTURE DEV    0.40      10/15/31    INR    49.56
PUNJAB INFRASTRUCTURE DEV    0.40      10/15/32    INR    46.44
PUNJAB INFRASTRUCTURE DEV    0.40      10/15/33    INR    43.64
PYRAMID SAIMIRA THEATRE L    1.75      07/04/12    USD     0.26
R L FINE CHEM PVT LTD        0.10      08/19/36    INR    27.23
REDKITE CAPITAL PVT LTD      2.50      01/15/28    INR    69.66
REDKITE CAPITAL PVT LTD      2.50      03/30/29    INR    65.67
REI AGRO LTD                 5.50      11/13/14    USD     0.56
REI AGRO LTD                 5.50      11/13/14    USD     0.56
RELIANCE COMMUNICATIONS L    6.50      11/06/20    USD    11.64
SINTEX INDUSTRIES LTD        3.50      05/25/22    USD    48.63
SURBHI INVESTMENTS & TRAD    2.50      10/21/28    INR    67.08
SUZLON ENERGY LTD            5.75      07/16/19    USD    25.54
SUZLON ENERGY LTD            5.75      07/16/19    USD    25.54
SVOGL OIL GAS & ENERGY LT    5.00      08/17/15    USD     0.61
TN URJA PVT LTD              0.10      02/22/36    INR    29.18
VIDEOCON INDUSTRIES LTD      2.80      12/31/20    USD    30.25
WATSUN INFRABUILD PVT LTD    4.00      10/16/37    INR    56.26
WS T&D LTD                   0.10      03/24/29    INR    50.57
ZYDUS FOUNDATION             0.10      03/25/25    INR    70.08


  INDONESIA
  ---------

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        0.99      11/27/26    JPY    73.14
UNIZO HOLDINGS CO LTD        1.20      05/28/27    JPY    67.88
UNIZO HOLDINGS CO LTD        1.50      11/26/27    JPY    66.72


  SOUTH KOREA
  -----------

ECOMAISTER CO LTD            2.00      10/11/22    KRW    60.98
HEUNGKUK FIRE & MARINE IN    5.70      12/29/46    KRW    46.42
KIBO ABS SPECIALTY CO LTD    5.00      09/11/20    KRW    75.01
KIBO ABS SPECIALTY CO LTD    5.00      08/28/21    KRW    72.52
KIBO ABS SPECIALTY CO LTD    5.00      02/24/22    KRW    71.76
KIBO ABS SPECIALTY CO LTD    5.00      02/28/22    KRW    70.93
KIBO ABS SPECIALTY CO LTD    5.00      02/24/23    KRW    69.67
KIBO ABS SPECIALTY CO LTD    5.00      02/26/21    KRW    63.39
LOTTE CARD CO LTD            3.95      06/28/49    KRW    38.65
POSCO ENERGY CO LTD          5.21      08/29/43    KRW    61.91
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
SINBO SECURITIZATION SPEC    5.00      09/28/22    KRW    73.25
SINBO SECURITIZATION SPEC    5.00      06/29/22    KRW    73.15
SINBO SECURITIZATION SPEC    5.00      06/29/21    KRW    72.71
SINBO SECURITIZATION SPEC    5.00      12/27/21    KRW    71.61
SINBO SECURITIZATION SPEC    5.00      02/28/23    KRW    71.29
SINBO SECURITIZATION SPEC    5.00      03/20/23    KRW    71.14
SINBO SECURITIZATION SPEC    5.00      02/28/22    KRW    70.92
SINBO SECURITIZATION SPEC    5.00      07/24/23    KRW    69.29
SINBO SECURITIZATION SPEC    5.00      08/29/23    KRW    69.12
SINBO SECURITIZATION SPEC    5.00      08/29/23    KRW    69.12
SINBO SECURITIZATION SPEC    5.00      09/26/23    KRW    68.99
SINBO SECURITIZATION SPEC    5.00      09/26/23    KRW    68.99
SINBO SECURITIZATION SPEC    5.00      09/26/23    KRW    68.99
SINBO SECURITIZATION SPEC    5.00      01/25/23    KRW    68.82
SINBO SECURITIZATION SPEC    5.00      06/27/23    KRW    68.30
SINBO SECURITIZATION SPEC    5.00      08/29/22    KRW    67.10
SINBO SECURITIZATION SPEC    5.00      08/31/22    KRW    67.10
SINBO SECURITIZATION SPEC    5.00      09/26/22    KRW    67.08
SINBO SECURITIZATION SPEC    5.00      07/26/22    KRW    67.07
SINBO SECURITIZATION SPEC    5.00      07/24/22    KRW    67.07
SINBO SECURITIZATION SPEC    5.00      01/25/22    KRW    66.75
SINBO SECURITIZATION SPEC    5.00      01/26/22    KRW    66.74
SINBO SECURITIZATION SPEC    5.00      02/23/22    KRW    66.38
SINBO SECURITIZATION SPEC    5.00      06/27/22    KRW    66.06
SINBO SECURITIZATION SPEC    5.00      12/21/20    KRW    64.30
SINBO SECURITIZATION SPEC    5.00      08/31/21    KRW    64.09
SINBO SECURITIZATION SPEC    5.00      07/26/21    KRW    63.13
SINBO SECURITIZATION SPEC    5.00      03/21/21    KRW    62.72


  SRI LANKA
  ---------

SRI LANKA DEVELOPMENT BON    5.66      05/01/23    USD    74.36
SRI LANKA DEVELOPMENT BON    4.57      01/22/23    USD    73.78
SRI LANKA DEVELOPMENT BON    4.38      01/22/23    USD    73.73
SRI LANKA DEVELOPMENT BON    4.35      03/16/23    USD    72.52
SRI LANKA DEVELOPMENT BON    4.26      05/01/23    USD    71.48
SRI LANKA DEVELOPMENT BON    4.22      05/01/23    USD    71.39
SRI LANKA DEVELOPMENT BON    6.87      01/22/25    USD    70.12
SRI LANKA DEVELOPMENT BON    6.75      01/22/25    USD    69.75
SRI LANKA DEVELOPMENT BON    6.50      01/22/25    USD    68.98
SRI LANKA DEVELOPMENT BON    6.02      01/22/25    USD    67.51
SRI LANKA DEVELOPMENT BON    5.98      01/22/25    USD    67.39
SRI LANKA DEVELOPMENT BON    4.90      01/22/25    USD    63.84
SRI LANKA GOVERNMENT INTE    5.75      04/18/23    USD    73.17
SRI LANKA GOVERNMENT INTE    5.75      04/18/23    USD    73.06
SRI LANKA GOVERNMENT INTE    6.85      03/14/24    USD    71.56
SRI LANKA GOVERNMENT INTE    6.85      03/14/24    USD    71.49
SRI LANKA GOVERNMENT INTE    6.35      06/28/24    USD    71.43
SRI LANKA GOVERNMENT INTE    6.35      06/28/24    USD    71.26
SRI LANKA GOVERNMENT INTE    6.85      11/03/25    USD    67.50
SRI LANKA GOVERNMENT INTE    6.13      06/03/25    USD    67.43
SRI LANKA GOVERNMENT INTE    6.85      11/03/25    USD    67.17
SRI LANKA GOVERNMENT INTE    6.13      06/03/25    USD    66.98
SRI LANKA GOVERNMENT INTE    6.83      07/18/26    USD    66.61
SRI LANKA GOVERNMENT INTE    6.83      07/18/26    USD    66.50
SRI LANKA GOVERNMENT INTE    7.85      03/14/29    USD    64.97
SRI LANKA GOVERNMENT INTE    7.85      03/14/29    USD    64.88
SRI LANKA GOVERNMENT INTE    6.20      05/11/27    USD    64.50
SRI LANKA GOVERNMENT INTE    6.20      05/11/27    USD    64.38
SRI LANKA GOVERNMENT INTE    6.75      04/18/28    USD    64.25
SRI LANKA GOVERNMENT INTE    6.75      04/18/28    USD    63.98
SRI LANKA GOVERNMENT INTE    7.55      03/28/30    USD    63.56
SRI LANKA GOVERNMENT INTE    7.55      03/28/30    USD    63.43
SRILANKAN AIRLINES LTD       7.00      06/25/24    USD    51.00


  MALAYSIA
  --------

AEON CREDIT SERVICE M BHD    3.50      09/15/20    MYR     0.85
ASIAN PAC HOLDINGS BHD       3.00      05/25/22    MYR     0.52
BERJAYA CORP BHD             5.00      04/22/22    MYR     0.24
BERJAYA CORP BHD             2.00      05/29/26    MYR     0.10
ELK-DESA RESOURCES BHD       3.25      04/14/22    MYR     1.01
HIAP TECK VENTURE BHD        5.00      06/23/21    MYR     0.16
HUME INDUSTRIES BHD          5.00      05/29/24    MYR     1.50
MALAYAN FLOUR MILLS BHD      5.00      01/24/24    MYR     1.01
PMB TECHNOLOGY BHD           3.00      07/12/23    MYR     2.62
SENAI-DESARU EXPRESSWAY B    1.35      12/31/29    MYR    74.53
SENAI-DESARU EXPRESSWAY B    1.35      06/28/30    MYR    73.38
SENAI-DESARU EXPRESSWAY B    1.35      12/31/30    MYR    72.10
SENAI-DESARU EXPRESSWAY B    1.35      06/30/31    MYR    70.84
VIZIONE HOLDINGS BHD         3.00      08/08/21    MYR     0.03


  NEW ZEALAND
  -----------

PRECINCT PROPERTIES NEW Z    4.80      09/27/21    NZD     1.17


  PHILIPPINES
  -----------

BAYAN TELECOMMUNICATIONS    15.00      07/15/06    USD    22.75


  SINGAPORE
  ---------

ALAM SYNERGY PTE LTD         6.63      04/24/22    USD    50.54
APL REALTY HOLDINGS PTE L    5.95      06/02/24    USD    51.27
ASL MARINE HOLDINGS LTD      3.00      10/01/26    SGD    42.64
ASL MARINE HOLDINGS LTD      3.00      03/28/25    SGD    42.63
BAKRIE TELECOM PTE LTD      11.50      05/07/15    USD     0.50
BAKRIE TELECOM PTE LTD      11.50      05/07/15    USD     0.50
BERAU CAPITAL RESOURCES P   12.50      07/08/15    USD    39.54
BERAU CAPITAL RESOURCES P   12.50      07/08/15    USD    39.54
BLD INVESTMENTS PTE LTD      8.63      03/23/15    USD     4.88
BLUE OCEAN RESOURCES PTE     8.00      12/31/21    USD    28.97
BLUE OCEAN RESOURCES PTE     8.00      12/31/21    USD    28.97
BLUE OCEAN RESOURCES PTE     8.00      12/31/21    USD    28.97
ENERCOAL RESOURCES PTE LT    9.25      08/05/14    USD    45.75
ETERNA CAPITAL PTE LTD       7.50      12/11/22    USD    50.67
ETERNA CAPITAL PTE LTD       8.00      12/11/22    USD    27.38
EZRA HOLDINGS LTD            4.88      04/24/18    SGD     5.00
GEO COAL INTERNATIONAL PT    8.00      10/04/22    USD    51.89
GEO COAL INTERNATIONAL PT    8.00      10/04/22    USD    46.51
GOLDEN ENERGY & RESOURCES    9.00      02/14/23    USD    73.94
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 GROUP    2.00      07/30/10    USD     1.00
INNOVATE CAPITAL PTE LTD     6.00      12/11/24    USD    31.05
ITNL OFFSHORE PTE LTD        7.50      01/18/21    CNY    15.00
JGC VENTURES PTE LTD        10.75      08/30/21    USD    77.65
MICLYN EXPRESS OFFSHORE P    8.75      11/25/18    USD    22.55
MODERNLAND OVERSEAS PTE L    6.95      04/13/24    USD    29.23
MULHACEN PTE LTD             6.50      08/01/23    EUR    41.76
MULHACEN PTE LTD             6.50      08/01/23    EUR    41.30
NT RIG HOLDCO PTE LTD        7.50      12/20/21    USD    59.92
ORO NEGRO DRILLING PTE LT    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    67.56
SOECHI CAPITAL PTE LTD       8.38      01/31/23    USD    62.17
SSMS PLANTATION HOLDINGS     7.75      01/23/23    USD    46.62
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          5.55      10/10/16    SGD    12.25
SWIBER HOLDINGS LTD          7.75      09/18/17    CNY     7.75
SWIBER HOLDINGS LTD          7.13      04/18/17    SGD     7.75


  THAILAND
  --------

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



                           *********


S U B S C R I P T I O N   I N F O R M A T I O N

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

Copyright 2020.  All rights reserved.  ISSN: 1520-9482.

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

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



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