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       T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

          Tuesday, September 1, 2020, Vol. 23, No. 175

                           Headlines



A U S T R A L I A

A FIFE & CO: Second Creditors' Meeting Set for Sept. 9
GUMBOOTS AUSTRALIA: Second Creditors' Meeting Set for Sept. 8
MORTGAGE HOUSE 2020-1: S&P Assigns Prelim. B Rating on F Notes
PEPPER I-PRIME 2017-2: S&P Affirm BB Rating on Class E Notes
R&L SOLAR: Second Creditors' Meeting Set for Sept. 7

RETAIL FOOD: Net Loss Narrows to AUD4MM in FY 2020
SAPPHIRE XXIV 2020-2: S&P Assigns Prelim. B Rating on F Notes
SILVER HERITAGE: DFNN Unit Launches Takeover of Company
VIRGIN AUSTRALIA: Bain Offers Unions Key Advisory Role


C H I N A

CHINA SOUTH: Moody's Assigns B2 CFR, Outlook Stable
JRSIS HEALTH: Centurion ZD CPA & Co. Raises Going Concern Doubt
LOGAN PROPERTY: Fitch Affirms 'BB' LT IDRs & Sr. Unsec. Rating
POWERLONG REAL ESTATE: S&P Alters Outlook to Pos. & Affirms B+ ICR
XINJIANG ZHONGTAI: S&P Withdraws 'BB+' LT Issuer Credit Rating

XINYI INVESTMENT: Fitch Withdraws 'BB-' LT Issuer Default Rating


H O N G   K O N G

LIONBRIDGE CAPITAL: S&P Alters Outlook to Stable & Affirms B/B ICRs


I N D I A

AGRO FRESH: CRISIL Keeps D Debt Ratings in Not Cooperating
ANANT VENKATESH: CRISIL Lowers Rating on INR15cr Loan to B
BALAJI PARABOILED: CRISIL Keeps B Debt Ratings in Not Cooperating
BMW IRON: CRISIL Withdraws B+ Rating on INR34.5cr LT Loan
BRIJRAJ AGRO: CRISIL Keeps B Debt Ratings in Not Cooperating

GOPIMAL KAUR: CRISIL Keeps D on INR28cr Loan in Not Cooperating
HIGHLAND PRODUCE: CRISIL Lowers Rating on INR6.91cr Loan to B
KALINDI ISPAT: Ind-Ra Migrates BB+ Issuer Rating to Non-Cooperating
KARUNAMAYE BEVERAGES: CRISIL Keeps B- Ratings in Not Cooperating
KASKAL FACADE: Insolvency Resolution Process Case Summary

M.A. ENTERPRISES: Ind-Ra Assigns BB- Loan Rating, Outlook Stable
MAHA LUXMI: CRISIL Keeps B Debt Ratings in Not Cooperating
MAHALAXMI INDUSTRIES: CRISIL Keeps B Debt Rating in Not Cooperating
MAHATHI SOFTWARE: Ind-Ra Affirms BB Issuer Rating, Outlook Stable
NAVANAAMI PROJECTS: CRISIL Keeps B+ Debt Rating in Not Cooperating

R. SENGUTTUVAN: CRISIL Keeps B on INR30cr Loans in Not Cooperating
R.K. COTTON: CRISIL Lowers Rating on INR6cr Cash Loan to B
RADHEY RADHEY: CRISIL Lowers Rating on INR22.8CR Loan to B
RAGAM METAL: CRISIL Lowers Rating on INR8.75cr Loan to B
RAPID TRANSPAY: CRISIL Lowers Rating on INR8cr Loans to B

ROCKWELL MINERALS: CRISIL Keeps B on INR5cr Debt in Not Cooperating
ROLAND CERAMIC: CRISIL Keeps B+ Debt Ratings in Not Cooperating
S.M. EDIBLES: CRISIL Keeps B+ on INR20cr Loans in Not Cooperating
S.M.P. EXIM: CRISIL Lowers Rating on INR2cr Loans to B
SAHAJ FINVEST: CRISIL Keeps B Debt Ratings in Not Cooperating

SAI AGRO: CRISIL Lowers Rating on INR5cr Cash Loan to 'B'
SAIVENKATA NIRMITI: CRISIL Lowers Rating on INR9.6cr Loan to B
SATHI AGRICULTURAL: CRISIL Keeps B- Debt Rating in Not Cooperating
SHALIMAR OVERSEAS: CRISIL Keeps B Debt Ratings in Not Cooperating
SHUBHAM COTTON: CRISIL Keeps B on INR18cr Loans in Not Cooperating

SIDDHIVINAYAK SALES: CRISIL Lowers Rating on INR10cr Loan to B
SINGH CYCLE: CRISIL Keeps D Debt Ratings in Not Cooperating
SUN ARK: CRISIL Keeps D on INR12cr Loans in Not Cooperating
TAMILNADU STATE: CRISIL Lowers Rating on INR13cr Cash Loan to B
VARSHA SUPER: CRISIL Keeps B+ Debt Ratings in Not Cooperating



N E W   Z E A L A N D

RESIMAC VERSAILLES 2020-1: S&P Assigns Prelim. BB Rating on E Notes


P H I L I P P I N E S

ABS-CBN CORP: Shuts Down Experience and Retail Businesses


S I N G A P O R E

KRISENERGY LTD: Keppel Prepared to Support Final Restructuring
KS ENERGY: High Court Grants OCBC's Bid to Place Firm Under IJM
UTAC HOLDINGS: S&P Withdraws 'B-' LongTerm Issuer Credit Rating


T H A I L A N D

[*] THAILAND: Seven Thai Airlines Seek US$770MM in State Support


X X X X X X X X

BOND PRICING: For the Week Aug. 24 to Aug. 28, 2020

                           - - - - -


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A U S T R A L I A
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A FIFE & CO: Second Creditors' Meeting Set for Sept. 9
------------------------------------------------------
A second meeting of creditors in the proceedings of A Fife & Co Pty
Ltd has been set for Sept. 9, 2020, at 11:00 a.m. at the offices of
Rodgers Reidy, Level 12, The University Centre, 210 Clarence
Street, in Sydney, NSW, and also virtually by way of Zoom
Application.

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 Sept. 8, 2020, at 4:00 p.m.

Andrew James Barnden of Rodgers Reidy was appointed as
administrator of A Fife on Aug. 5, 2020.


GUMBOOTS AUSTRALIA: Second Creditors' Meeting Set for Sept. 8
-------------------------------------------------------------
A second meeting of creditors in the proceedings of Gumboots
Australia Pty Ltd, trading as Pavement Brands, and Meurs Gumboots
Pty Ltd, as Trustee for the Meurs Gumboots Trust, has been set for
Sept. 8, 2020, at 10:00 a.m. via virtual meeting.

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 Sept. 7, 2020, at 12:00 p.m.

Andrew Reginald Yeo and Gess Michael Rambaldi of Pitcher Partners
were appointed as administrators of Gumboots Australia on June 23,
2020.


MORTGAGE HOUSE 2020-1: S&P Assigns Prelim. B Rating on F Notes
--------------------------------------------------------------
S&P Global Ratings assigned its preliminary ratings to eight
classes of prime residential mortgage-backed securities (RMBS) to
be issued by Perpetual Trustee Co. Ltd. as trustee for Mortgage
House Capital Mortgage Trust No.1 - Mortgage House RMBS Series
2020-1. Mortgage House RMBS Series 2020-1 is a securitization of
residential mortgages originated by Mortgage House of Australia Pty
Ltd.

The preliminary ratings reflect:

-- S&P's view of the credit risk of the underlying collateral
portfolio, including its view that the credit support provided to
each class of notes is commensurate with the ratings assigned.
Credit support for the rated notes comprises note subordination,
lenders' mortgage insurance (LMI) on 8.0% of the loans in the
portfolio, and excess spread.

-- The underwriting standard and centralized approval process of
the seller, Mortgage House of Australia.

-- S&P's expectation that the various mechanisms to support
liquidity within the transaction, including a liquidity facility
equal to 1.2% of the outstanding balance of the notes, principal
draws, and a loss reserve that builds from excess spread, are
sufficient under our stress assumptions.

-- The benefit of a fixed- to floating-rate interest-rate swap
provided by Westpac Banking Corp. to hedge the mismatch between
receipts from any fixed-rate mortgage loans and the variable-rate
RMBS.

-- That loss of income for borrowers in the coming months due to
the effects of COVID-19 will likely put upward pressure on mortgage
arrears. S&P said, "We have recently updated our outlook
assumptions for Australian RMBS in response to changing
macroeconomic conditions as a result of the COVID-19 outbreak. We
have also applied an additional stress in our analysis to assess
the rated notes' sensitivity to liquidity stress. As of July 10,
2020, borrowers with COVID-19 related hardship arrangements make up
1.5% of the closing pool balance."

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.

  PRELIMINARY RATINGS ASSIGNED

  Mortgage House Capital Mortgage Trust No.1 -
  Mortgage House RMBS Series 2020-1

  Class      Rating         Amount (A$ mil.)
  A1         AAA (sf)       340.0
  A2         AAA (sf)        28.0
  AB         AAA (sf)         7.4
  B          AA (sf)          8.2
  C          A (sf)           6.8
  D          BBB (sf)         4.4
  E          BB (sf)          2.4
  F          B (sf)           1.6
  G          NR               1.2

  NR--Not rated.


PEPPER I-PRIME 2017-2: S&P Affirm BB Rating on Class E Notes
------------------------------------------------------------
S&P Global Ratings raised its ratings on the class B and class C
notes issued by Permanent Custodians Ltd. as trustee of Pepper
I-Prime 2017-2 Trust. At the same time, S&P affirmed its ratings on
the class A1-L, class A2, class D, class E, and class F notes.

The rating actions reflect:

-- S&P's view of the credit support available, which is sufficient
to withstand the stresses it applies. Credit support comprises note
subordination for the rated notes.

-- That the transaction's cash flows support the timely payment of
interest and ultimate payment of principal to the noteholders under
S&P's rating stress assumptions.

-- That for the class B notes there has been a buildup in the
percentage of credit support to achieve a 'AAA (sf)' rating level
and the class B notes cash flows support a 'AAA (sf)' rating
level.

-- That for the class C notes there has been a buildup in the
percentage of credit support to achieve a 'A+ (sf)' rating level
and the class C notes cash flows support a 'A+ (sf)' rating level.

-- S&P's view of the credit risk of the underlying collateral
portfolio, which consists of loans to prime-quality borrowers
originated by Pepper Homeloans Pty Ltd. As of July 31, 2020, the
pool has a current weighted-average loan-to-value ratio of 69.8%
and weighted-average loan seasoning of 41.7 months.

-- The exposure to investor loans, accounting for 72.4% of the
pool; loans it classifies as low-documentation, comprising 22.4% of
the pool; and the 45.2% exposure to loans currently in the
interest-only period before reverting to fully amortizing over the
next 3.3 years.

-- The arrears performance, which has generally tracked above the
Standard & Poor's Performance Index (SPIN) for prime loans in the
past 12 months. As of 31 July, 2020, 1.50% of loans are more than
30 days in arrears, of which 1.31% are more than 90 days in
arrears. However, there have been minimal losses to date, all of
which have been covered by excess spread.

-- That loss of income for borrowers in the coming months due to
the effects of COVID-19 will likely put upward pressure on mortgage
arrears. S&P has recently updated its outlook assumptions for
Australian RMBS in response to changing macroeconomic conditions as
a result of the COVID-19 outbreak. S&P has also assessed a range of
additional sensitivity tests in its analysis to assess the rated
notes' sensitivity to liquidity stress and the possibility of
higher arrears.  As of July 31, 2020, borrowers with COVID-19
related hardship arrangements make up 4.40% of the pool balance.

-- That the notes are currently paying on a pro-rata basis and
will continue to do so until step-down conditions are no longer
met. These include performance triggers and a call-option trigger.

-- The availability of a yield-enhancement reserve, amortization
reserve, and overcollateralization amount, which will all be funded
by excess spread to cover potential yield shortfalls and loss
reimbursements and to repay principal on the notes at various
stages of the transaction's term. The yield-enhancement reserve has
built up to a balance of A$635,581 as of July 31, 2020.

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.

  RATINGS RAISED

  Pepper I-Prime 2017-2 Trust

  Class      Ratings To     Ratings From
  B          AAA (sf)       AA (sf)
  C          A+ (sf)        A(sf)

  RATINGS AFFIRMED

  Pepper I-Prime 2017-2 Trust

  Class      Rating
  A1-L       AAA (sf)
  A2         AAA (sf)
  D          BBB (sf)
  E          BB (sf)
  F          B (sf)


R&L SOLAR: Second Creditors' Meeting Set for Sept. 7
----------------------------------------------------
A second meeting of creditors in the proceedings of:

   -- R&L Solar Construction Pty Ltd;
   -- R&L Solar Construction Australia Pty Ltd; and
   -- RLBEJEM Pty Ltd

has been set for Sept. 7, 2020, at 2:30 p.m. at teleconference
only.

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 Sept. 12, 2020, at 4:00 p.m.

Andrew Reginald Yeo and Gess Michael Rambaldi of Pitcher Partners
were appointed as administrators of R&L Solar Construction on Aug.
3, 2020.


RETAIL FOOD: Net Loss Narrows to AUD4MM in FY 2020
--------------------------------------------------
Dean Blake at Inside Retail reports that franchisor Retail Food
Group hit its target EBITDA for FY20 at AUD35.5 million, 19 per
cent lower than FY19's AUD44 million, which led to a statutory net
loss of AUD4 million due to restructuring costs and asset write
downs.

Despite the loss, the result is leagues ahead of where the business
was at the same point last year, where it saw a AUD142.5 million
loss. Net debt has also improved from AUD259.7 million to AUD33.1
million, Inside Retail discloses.

Retail Food Group operates several businesses across the QSR
industry, including Donut King, Glora Jeans, Crust Pizza and
Michele's Patisserie.

According to Inside Retail, Chairman Peter George said much of the
growth was seen in the first nine months of the year before the
impact of Covid-19 hit.

"[In the first half] RFG made significant progress in connection
with the various turnaround initiatives implemented to stabilise
business performance and establish a firm platform for a return to
future profitability and growth," Inside Retail quotes Mr. George
as saying.

Inside Retail relates that these turnaround initiatives include
marketing and product innovation, a trial of new Gloria Jean's
concepts and drive-thru stores, as well as a redesign of the
businesses franchisee network being led by a new retail management
team.

"The subsequent emergence of Covid-19 caused significant
disruption, influencing performance in all aspects of group
operations."

Operations that rely on a presence in shopping centres were
particularly impacted with customer count falling by half, and the
unprecedented challenges the pandemic poses moving forward will
mean the group will need to continue to buoy franchisees where
possible, Inside Retail relays.

"The maxim that our franchisees' success is our success has never
been more meaningful or appropriate than during the past six
months," Inside Retail quotes Mr. George as saying.

"In addition to the strong pipeline of turnaround initiatives
already underway, numerous measures have been implemented to
support impacted franchisees and respond to unprecedented trading
conditions.

"The positive outcomes delivered in 1h20 . . . established a much
stronger foundation for the company to take this decisive and
necessary action."

Retail Food Group Limited (ASX:RFG) -- http://rfg.com.au/--
together with its subsidiaries, owns, develops, and manages
multi-brand retail food franchise in Australia. The company engages
in the ownership of intellectual property; development and
management of coffee roasting facilities; and the wholesale supply
of coffee and allied products. It is also involved in the
development and management of the procurement, warehousing,
manufacturing, and distribution business of various brands. The
company operates a network of approximately 2,500 outlets across 12
brand systems spanning 83 territories.  RFG owns the brands Gloria
Jeans, Donut King, Brumbies, Crust and Pizza Capers.


SAPPHIRE XXIV 2020-2: S&P Assigns Prelim. B Rating on F Notes
-------------------------------------------------------------
S&P Global Ratings assigned its preliminary ratings to eight
classes of nonconforming and prime residential mortgage-backed
securities (RMBS) to be issued by Permanent Custodians Ltd. as
trustee of Sapphire XXIV Series 2020-2 Trust. Sapphire XXIV Series
2020-2 Trust is a securitization of nonconforming and prime
residential mortgages originated by Bluestone Group Pty Ltd. and
Bluestone Mortgages Pty Ltd. (collectively Bluestone).

The preliminary ratings S&P has assigned to the floating-rate RMBS
to be issued by Permanent Custodians Ltd. as trustee for Sapphire
XXIV Series 2020-2 Trust reflect the following factors.

The credit risk of the underlying collateral portfolio and the
credit support provided to each class of notes are commensurate
with the ratings assigned. Note subordination and excess spread
provide credit support. S&P's assessment of credit risk takes into
account Bluestone's underwriting standards and approval process,
and Bluestone's strong servicing quality.

The rated notes can meet timely payment of interest and ultimate
payment of principal under the rating stresses. Key rating factors
are the level of subordination provided, the provision of a
liquidity facility, the principal draw function, the yield reserve,
retention amount built from excess spread, and the provision of an
extraordinary expense reserve. S&P's analysis is on the basis that
the rated notes are fully redeemed via the principal waterfall
mechanism under the transaction documents by their legal final
maturity date, and it assumes the notes are not called at or beyond
the call-option date.

S&P said, "Our ratings also take into account the counterparty
exposure to Commonwealth Bank of Australia as bank account
provider, and National Australia Bank Ltd. as the liquidity
facility provider and interest-rate hedge provider. The transaction
documents for the swaps and facilities include downgrade language
consistent with S&P Global Ratings' counterparty criteria.

"We have also factored into our ratings the legal structure of the
trust, which is established as a special-purpose entity and meets
our criteria for insolvency remoteness."

Loss of income for borrowers in the coming months due to the
effects of COVID-19 might put upward pressure on mortgage arrears.
S&P said, "In our credit analysis, we have assessed those loans in
the portfolio where the borrower has been granted a COVID-19
hardship payment arrangement. We have increased the minimum credit
support levels to reflect the likelihood that arrears increase
following the end of the hardship arrangement period. In our
cash-flow analysis, we have assumed a portion of principal and
interest collections are delayed to stress test the liquidity
provided to the transaction."

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 said, "We are using this assumption in
assessing the economic and credit implications associated with the
pandemic. As the situation evolves, we will update our assumptions
and estimates accordingly."

  PRELIMINARY RATINGS ASSIGNED

  Sapphire XXIV Series 2020-2 Trust

  Class      Rating         Amount (mil. A$)
  A1S        AAA (sf)        94.50
  A1L        AAA (sf)       150.50
  A2         AAA (sf)        61.25
  B          AA (sf)         15.75
  C          A (sf)           9.45
  D          BBB (sf)         6.30
  E          BB (sf)          2.80
  F          B (sf)           2.45
  G1         NR               3.71
  G2         NR               3.29

  NR--Not rated.


SILVER HERITAGE: DFNN Unit Launches Takeover of Company
-------------------------------------------------------
Manila Bulletin reports that DFNN Inc. (DFNN) affiliate HatchAsia,
Inc. (HAI) is launching a takeover of Silver Heritage Group Limited
(SVH), an Australian-listed gaming investor which owns two casinos
in Nepal.

In a disclosure to the Philippine Stock Exchange, DFNN said
HatchAsia's wholly owned Australian subsidiary has offered a
non-binding Term Sheet to take control of SVH, the report says.

According to Manila Bulletin, the Australian firm has recently
appointed KPMG as administrators following the global outbreak of
COVID-19, which saw its Nepal casinos forced to suspend operations
just months after being granted much-needed funding by its main
lender, OCP Asia.

Manila Bulletin relates that DFNN said that, the administrators met
with the creditors of SVH who unanimously resolved that the latter
execute the Deed of Company Arrangement (DOCA) and has relayed the
approval to HAI.

Manila Bulletin says HAI's recapitalization via DOCA methodology,
as allowed by the Australian Stock Exchange, subject to SVH
shareholder approval, will be effected via the acquisition of
shares equal to approximately 92 percent of the issued share
capital of SVH through a consolidation of shares of existing
shareholders and a new issue of ordinary shares of a new Australian
subsidiary of HAI, Hatch Australia Holdings Pty Limited.

The consideration for this transaction is AUD530,000 in cash and 3
percent of the issued shares in SVH, subject to the terms and
conditions to be set in a Deed of Company Arrangement, the report
notes.

The successful conclusion would eventually result in the HatchAsia
shareholder-controlled entity being listed on the Australian Stock
Exchange and DFNN owning part of the ASX Listed Entity.

"As a shareholder, we welcome and look forward to the foray of
HatchAsia in the international market", Manila Bulletin quotes
Calvin Lim, CEO of DFNN and incoming director of HAI, as saying.

He said that this is "A move that will consequently provide us
better access to a wider capital base as well as create new
business streams for a larger audience reach that will pave the way
for more Philippine businesses to globalize."

"Tapping the Australian capital market for this provides a
conducive environment for the nature of our businesses and allows
DFNN to fully value its early investments in HatchAsia," Mr. Lim,
as cited by Manila Bulletin, added.

SVH and HAI are currently in the process of developing a DOCA, the
report states. This comes after the announcement of iWave, Inc., a
DFNN investee company, of its on-going listing in the Singapore
Stock Exchange via another reverse takeover through a Scheme of
Arrangement, as allowed under SGX rules, the report adds.

                       About Silver Heritage

Silver Heritage Group Limited -- http://www.silverheritage.com.au/
-- is engaged in the operation and management of casinos in Nepal
and Vietnam, and management of electronic gaming operations in
casinos in Laos and Cambodia. The Company's business is divided in
two business lines: Operation of casinos, and Provision and
operation of electronic gaming machines (EGMs). The Company
operates The Millionaire's Club & Casino (TMC) in Kathmandu, Nepal,
under its own license, and provides management services to the
Phoenix International Club casino (the Phoenix International Club)
in Bac Ninh, Vietnam. It provides EGMs to casinos and licensed
gaming clubs in Laos and Cambodia. The Company's geographic
segments include Laos, Vietnam, Nepal, Cambodia, Macau, Tinian and
Other.

Silver Heritage Group Ltd on May 20, 2020, said its main lender --
identified as OCP Asia -- had appointed John Park and Joseph
Hansell of business advisory firm FTI Consulting as receivers and
managers.

Amanda Coneyworth and Ryan Eagle of KPMG were appointed as
administrators of Silver Heritage on May 18, 2020.


VIRGIN AUSTRALIA: Bain Offers Unions Key Advisory Role
------------------------------------------------------
Patrick Hatch at The Sydney Morning Herald reports that Virgin
Australia's presumptive owner Bain Capital has extended an olive
branch to the airline's unions in the form of a workers' advisory
council that will consult on how the carrier is relaunched from
administration.

The establishment of the body made up of three union
representatives, Bain and Virgin chief executive Paul Scurrah
follows a union revolt over the US private equity firm's choice of
directors to oversee Virgin, SMH says.

In a letter sent to unions on Aug. 30, Bain's local boss Mike
Murphy said he agreed to the unions' request to establish a union
advisory council, which will meet every fortnight until the end of
the year, according to SMH.

"We see this confidential forum as an important opportunity to
discuss key matters that go to the heart of Virgin's recovery,
including how we can secure long lasting employment for as many
Virgin people as possible," SMH quotes Mr. Murphy as saying.

SMH relates that Mr. Murphy said creating such a body was a "unique
step in corporate Australia" which underscored the importance it
placed in having a constructive relationship with the unions.

Transport Workers Union national secretary Michael Kaine welcomed
the news and said his union would try to use the council to have a
say in who ends up on the board, SMH relays.

According to SMH, Mr. Kaine said the unions did not want to see the
type of "spiteful leadership" at Virgin on display at Qantas, "as
it uses the pandemic as a cover to replace 2,500 ground workers on
lower conditions".

SMH says the TWU and other unions have objected to Bain's plan to
make former Jetstar boss and Qantas executive Jayne Hrdlicka a
director and possibly chairman of Virgin, saying they feared she
would bring either a budget airline mindset or Qantas' style of
industrial hardball to the smaller airline.

Virgin's second creditors' meeting will be held on Sept. 4, with
creditors owed AUD6.8 billion to vote on the transfer of ownership
to Bain, the report adds.

                      About Virgin Australia

Brisbane, Queensland-based Virgin Australia is Australia's
second-largest airline. It commenced services in 2000 as Virgin
Blue, wholly owned by the Virgin Group.

Virgin Australia Holdings Ltd. was the first Asian airline to
succumb to the challenges of the coronavirus pandemic.  The airline
carrier collapsed into voluntary administration in April 2020.

Richard John Hughes, John Greig, Vaughan Strawbridge and Sal Algeri
of Deloitte were appointed as administrators of Virgin Australia,
et al., on April 20.  The administrators were tasked to restructure
and find new owners for the airline.  The airline's frequent flyer
program is a separate company and is not in administration.

At the time of its collapse, Virgin Australia continued to operate
some flights for essential workers, freight and the repatriation of
Australians.

The company owes AUD6.8 billion to lenders, bondholders, aircraft
lessors, trade creditors and employees.

On April 29, 2020, Virgin Australia and more than 30 of its
affiliates filed petitions pursuant to Chapter 15 of the Bankruptcy
Code in the U.S. Bankruptcy Court for the Southern District of New
York.  Vaughan Strawbridge, Richard Hughes, John Greig, Salvatore
Algeri were tapped as foreign representatives.  Renee M. Dailey,
Esq. of Akin Gump Strauss Hauer & Feld LLP serves as counsel to the
Foreign Representatives.

In June 2020, administrator Deloitte agreed to sell the airline
carrier to American private equity giant Bain Capital.  The size of
the bid for the airline has not been revealed.




=========
C H I N A
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CHINA SOUTH: Moody's Assigns B2 CFR, Outlook Stable
---------------------------------------------------
Moody's Investors Service has assigned a B2 corporate family rating
to China South City Holdings Limited (CSC).

The outlook on the rating is stable.

"CSC's B2 CFR reflects its experience in developing and operating
integrated logistics and trade centers in China, its good
profitability, growing operations and recurring income," says Danny
Chan, a Moody's Assistant Vice President and Analyst.

"However, the CFR is constrained by (1) its moderate operating
scale and geographic concentration, which could increase
volatility; (2) its weak credit metrics, given its use of debt to
fund expansion; and (3) its weak liquidity," adds Chan, who is also
the lead analyst for CSC.

RATINGS RATIONALE

CSC is a leading logistics and trade centers developer and operator
in China with more than 18 years of operating history. The company
has expanded its development portfolio to include residential and
condominium projects mostly in areas surrounding its trade centers.
These residential and condominium projects contributed around 80%
of CSC's total contracted sales in the fiscal year ending March
2020 (fiscal 2020), which helped reduce cash flow volatility from
the cyclical demand for its trade centers.

Moody's expects that CSC's contracted sales will increase by 10% in
fiscal 2021 to around HKD15 billion from the previous year,
supported by its sizeable salable resources and the strong sales
performance of residential properties and condominium projects. In
fiscal 2020, CSC's gross contracted sales fell 7.9% to HKD13.5
billion compared with a year ago, mainly because of the adverse
impact of the coronavirus outbreak.

Moody's also expects the company to maintain its good profitability
in the next 12--18 months, underpinned by low land costs and the
good profitability of its rental income and ancillary services. CSC
has achieved high gross margins of above 40% in the past 2-3 years,
which exceeds the industry average and offers flexibility in
pricing during any down cycle.

The rating also considers CSC's growing streams of non-development
income from its rental, property management, logistics and
warehousing services and outlets businesses, many of which are
secured by long-term contracts with clients. These recurring
streams of income can moderate the volatility of cash flow from the
sales of property development projects.

On the other hand, the B2 rating is constrained by CSC's moderate
operating scale and geographic concentration, while the limited
number of development projects could raise sales and cash flow
volatilities.

The company has some concentration risk. Its property development
revenue of HKD7.5 billion in fiscal 2020 was generated from only
eight projects. Furthermore, Moody's estimates that more than 60%
of its saleable land banks are mainly from two projects in
Zhengzhou and Xi'an. Any adverse changes in the economies and
housing markets of these two cities could materially affect the
company's cash flow.

CSC's financial metrics are modest as it has funded its growth with
debt. Moody's expects its revenue/adjusted debt will improve mildly
to around 30%-35% in next 12-18 months from around 29% in fiscal
2020, while its adjusted EBIT/interest will strengthen to 2.0x-2.1x
over the same period from 1.9x in fiscal 2020, supported by growth
in revenue and EBIT. These projected metrics are modest for the
company's CFR.

CSC's liquidity is weak, given its sizable refinancing needs in the
next 12-18 months. As of March 2020, it had HKD10.3 billion of cash
balances, compared to HKD14.9 billion of reported short-term debt,
including HKD6.7 billion of bond maturities, and HKD8.2 billion of
bank loans and other borrowings.

Moody's expects the company will have to raise new debt to
refinance its maturing debt. The company's established access to
offshore debt capital markets and its sizable portfolio of
unpledged investment properties will provide the company with
flexibility in raising new borrowings.

In terms of environmental, social and governance (ESG) factors,
Moody's has considered the company's concentrated ownership, with
its substantial shareholders, Cheng Chung Hing and his family,
holding a 35.77% stake in the company as of June 2020.

Moody's also considers the following: (1) that independent
directors chair the audit and remuneration committees; (2) the low
level of related-party transactions and dividend payouts; and (3)
the presence of other internal governance structures and standards
as required by the Hong Kong Stock Exchange.

Moody's regards the impact of the deteriorating global economic
outlook amid the rapid and widening spread of the coronavirus
outbreak as a social risk under its ESG framework because of the
substantial implications for public health and safety.

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

The stable outlook reflects Moody's expectation that CSC (1) can
refinance its maturing debt and preserve adequate liquidity; (2)
will adopt a disciplined approach to expansion, and (3) will
maintain its stable source of recurring income.

Moody's could upgrade CSC's rating if the company (1) expands its
scale and non-development recurring revenue; (2) strengthens its
financial profile; and (3) improves its liquidity.

Credit metrics that could trigger an upgrade include (1)
EBIT/interest above 2.5x--3.0x; and (2) revenue/adjusted debt above
50%-60%.

However, Moody's could downgrade the rating if (1) CSC's sales or
rental income significantly declines; (2) the company materially
increases its debt-funded investment projects; or (3) its liquidity
worsens because of difficulty in refinancing its maturing debt over
the next six to 12 months.

Financial metrics indicative of a downgrade includes EBIT/interest
below 1.0x--1.5x. Any sign of weakened access to funding will also
pressure the rating.

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

CSC is a developer and operator of large-scale integrated logistics
and trade centers in China. The company, which listed on the Hong
Kong Stock Exchange in 2009, also develops supporting residential
properties and commercial facilities surrounding its trade centers,
and provides various value-added services to occupants of its trade
centers and other facilities.

As of June 2020, CSC operates eight centers in Shenzhen, Nanning,
Nanchang, Xian, Harbin, Zhengzhou, Hefei and Chongqing.


JRSIS HEALTH: Centurion ZD CPA & Co. Raises Going Concern Doubt
---------------------------------------------------------------
JRSIS Health Care Corporation filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K, disclosing a
net income of $1,268,659 on $31,463,433 of total revenue for the
year ended Dec. 31, 2019, compared to a net income of $2,847,100 on
$28,402,759 of total revenue for the year ended in 2018.

The audit report of Centurion ZD CPA & Co. states that the Company
has a significant accumulated deficits and negative working
capital. These factors raise substantial doubt about the
Company’s ability to continue as a going concern.

The Company's balance sheet at Dec. 31, 2019, showed total assets
of $51,628,682, total liabilities of $28,641,831, and a total
shareholders' equity of $22,986,851.

A copy of the Form 10-K is available at:

                        https://is.gd/VXVN6A

JRSIS Health Care Corporation provides a range of medical services
in Harbin in the Heilongjiang Province of the People's Republic of
China. It offers services in the areas of pediatrics, dermatology,
ears, nose, throat, traditional Chinese medicine, ophthalmology,
internal medicine dentistry, general surgery, rehabilitation
science, gynecology, general medical services, etc. The company
provides its services through Jiarun Hospital, which consists of
950 beds. The company was formerly known as China Runteng Medical
Group Co., Ltd and changed its name to JRSIS Health Care
Corporation in November 2013. JRSIS Health Care Corporation was
founded in 2006 and is based in Harbin, the People's Republic of
China.


LOGAN PROPERTY: Fitch Affirms 'BB' LT IDRs & Sr. Unsec. Rating
--------------------------------------------------------------
Fitch Ratings has affirmed China-based Logan Property Holdings
Company Limited's Long-Term Foreign- and Local-Currency Issuer
Default Ratings, senior unsecured rating and the rating on its
outstanding US dollar senior notes at 'BB'. The Outlook is Stable.
Fitch has also affirmed the rating on Logan's subordinated
perpetual capital securities at 'B+'.

The affirmation reflects the improvement in Logan's financial
profile, with Fitch expecting the company's leverage to be around
35%-40% in the next 12-18 months, and remain at this lower level
because the company has sufficient land bank to support its growth.
Logan has shown financial discipline during its business expansion,
which was evident in the decline in leverage, and maintained high
profitability with EBITDA margin at above 30%.

Logan has made some progress in diversification, but the majority
of its landbank and contracted sales remains focused on the Greater
Bay Area, which is a constraint on its rating. While Logan's market
position is strong in the Greater Bay Area - its core market - and
the company is ramping up its investment properties, Fitch views
that further enhancement in its market position in its core market,
or a material improvement in its geographic or business
diversification are key considerations for higher rating levels.

KEY RATING DRIVERS

Reduced Leverage: Logan's leverage, measured by net debt/adjusted
inventory that proportionately consolidates joint ventures (JVs)
and associates, fell to 35% by end-2019 from 41% at end-2018 and
48% at end-2017. In addition, leverage at end-June 2020 fell to
33%. The company spent CNY40.6 billion on replenishing its land
bank in 2019, or a steady pace of 42% of its contracted sales
during the period (2018: 48%).

By end-2019, the company had a total near-term land reserve of 36.7
million square metres (sq m), which was sufficient for development
in the next five years. Fitch expects the company to spend 40%-45%
of its consolidated contracted sales on land replenishment in
2020-2021 and to maintain a land bank sufficient for four to five
years of development.

Sustained High Margins: Logan's EBITDA margin, excluding
capitalised interest from cost of sales, stayed high at 32% in 2019
(2018: 32%, 2017: 33%), which contributes to its deleveraging.
Fitch expects the company's EBITDA margin to remain at 30%-32% in
the next one to two years. Logan had unrecognised contracted sales
of CNY85 billion at end-2019, which have gross profit margin of
about 30% and will be recognised as revenue over the next 18-24
months.

High-margin primary land development income will continue to
contribute to total revenue in the next three to five years, which
also supports the EBITDA margin. However, Fitch expects the high
margins of this segment to decrease over time.

Growing Sales Scale: Logan's contracted sales rose by 34% to
CNY96.0 billion in 2019. The contracted floor space sold rose 57%
to 6.9 million sq m, but the contracted average selling price (ASP)
fell to CNY13,876/sq m due to higher sales from the Nanning region,
where prices are lower. The company is on-track to meet its
full-year sales target of CNY110 billion in 2020. It has saleable
resources of CNY180 billion for launch in 2020. Fitch expects
Logan's annual contracted sales to increase to CNY110 billion in
2020 and CNY120 billion in 2021.

Expansion into New Markets: Fitch believes Logan's expansion into
new cities, including the Yangtze River Delta, Guangxi, Hong Kong
and Singapore, in the last 24 months has helped mitigate
concentration risks. Presales for the Yangtze River Delta and
Singapore projects were launched in 2019 and they contributed 3%
and 7%, respectively, to Logan's total contracted sales, versus 0%
and 5%, respectively, in 2018.

Concentration Risks Remain: Nevertheless, the Greater Bay Area
(including Shenzhen) accounts for most of Logan's attributable
sales and landbank, at around 56% and 71%, respectively, in 2019
(2018: 60% and 71%) and Fitch expects sales from the Greater Bay
Area to remain high at 60%-65% in 2020-2021. Logan has a strong
market position in the competitive Greater Bay Area market and
Fitch expects it to solidify its market position in the region.

Investment Properties' Contribution Rising: Logan's investment
properties, which mainly consist of offices and shopping malls, are
increasing their contribution to earnings. While there are inherent
execution risks in ramping up these projects, Fitch believes Logan
will control the pace of investment, which will be covered by the
sale of the residential projects. The investment property portfolio
will offer significant diversification from the more-risky property
development business once these projects are fully ramped-up and
the portfolio achieves meaningful scale.

DERIVATION SUMMARY

Logan's contracted sales are comparable with those of 'BB' rated
Chinese homebuilders, such as CIFI Holdings (Group) Co. Ltd.'s
(BB/Stable) CNY100 billion, and are higher than those of 'BB-'
rated peers, which have contracted sales of CNY50 billion-80
billion, including KWG Group Holdings Limited (BB-/Stable), China
Aoyuan Group Limited (BB-/Positive) and Yuzhou Group Holdings
Company Limited (BB-/Stable).

Logan's leverage of 35% at end-2019 is also lower than the 40%-45%
of other 'BB' rated peers, such as CIFI. In addition, similar to
Logan, CIFI's non-property development revenue generated EBITDA
that covered interest by less than 0.1x in 2019. Logan continued
its geographical focus on Tier 1 and Tier 2 cities, while CIFI
increased its focus on Tier 2 and 3 cities in 2018-2019.

Compared with 'BB+' standalone rated Chinese homebuilders, such as
China Jinmao Holdings Group Limited (BBB-/Stable, SCP: bb+) and
Sino-Ocean Group Holding Limited (BBB-/Stable, SCP: bb+), Logan has
similar contracted sales scale. However, Jinmao and Sino-Ocean have
stronger non-development property EBITDA coverage of around
0.3x-0.4x. Although Logan has a strong market position in the
Greater Bay Area than these peers, its geographic concentration is
also higher.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within Its Rating Case for the Issuer:

  - Contracted sales of CNY110 billion in 2020 and CNY120 billion
in 2021 (2019: CNY96 billion)

  - EBITDA margin, with capitalised interest excluded from cost of
sales, of 30%-32% in 2020-2021 (2019: 32%)

  - 40%-50% of contracted sales proceeds to be spent on land
acquisitions in 2020-2021 to maintain a land bank sufficient for
around five years of development

RATING SENSITIVITIES

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

  - Enhancement of its market position in its core market, or
material improvement in its business or geographic diversification

  - Leverage, as measured by net debt/adjusted inventory that
proportionately consolidates joint ventures and associates,
sustained below 35%

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

  - Leverage, as measured by net debt/adjusted inventory that
proportionately consolidates joint ventures and associates,
sustained above 45%

  - EBITDA margin, excluding capitalised interests from cost of
goods sold, sustained below 25%

LIQUIDITY AND DEBT STRUCTURE

Sufficient Liquidity: Logan had total cash on hand of CNY40.7
billion, including CNY5.9 billion of restricted cash and pledged
deposits, as of end-2019, sufficient to cover short-term debt of
CNY29.6 billion maturing within one year and liabilities under
cross-border guarantee arrangements of CNY0.9 billion.

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).


POWERLONG REAL ESTATE: S&P Alters Outlook to Pos. & Affirms B+ ICR
------------------------------------------------------------------
S&P Global Ratings affirmed its 'B+' long-term issuer credit rating
on Powerlong Real Estate Holdings Ltd. and its 'B' long-term issue
rating on its senior unsecured notes.

S&P said, "We revised the outlook on Powerlong to positive because
the company may improve its debt servicing capacity. We forecast
the company's debt-to-EBITDA ratio (on a consolidated and
proportionate basis) could lower to around or below 5.0x in the
next 12 months. At the same time, we expect the company to continue
to expand while maintaining its established market position in the
Yangtze River Delta (YRD).

"We attribute Powerlong's deleveraging mainly to more controlled
debt-funded land acquisitions in 2020-2021 compared to its revenue
and EBITDA expansion. We expect the company to be cautious in land
replenishments in the next 12 months, given its sufficient land
bank and rising competition in its key markets. As of June 30,
2020, the company had a total land bank of 28.6 million square
meters (sq.m.), which can support its development for the next
three to four years, in our view. We estimate Powerlong's adjusted
debt will increase to Chinese renminbi (RMB) 61 billion-RMB63
billion in 2020, from RMB 52.5billion as of end 2019."

Powerlong is more defensive during market volatility given that
most of the company's saleable resources are located in YRD, which
has a strong economic base and population inflow, in our view. We
anticipate the company will meet its annual sales target of RMB75
billion, with its RMB133.1 billion saleable resources and
sell-through ratio of 50%-60%. At the end of June, the company had
already achieved 42% of the annual sales target.

S&P said, "We also expect stronger revenue growth in the second
half of 2020 underpinned by the delivery of strong contracted sales
in 2018-2019. However, consolidated sales as a portion of total
sales could decline from 65% in 2018 to around 55% since 2019,
given that the company continues to expand through joint ventures
as it has over the past few years. This could strain its revenue
growth sustainability by lowering the portion attributed to the
company. We therefore expect slower revenue growth of 24%-26% in
2021 and 18%-20% in 2022, compared with that in the past few
years."

Constraining the improvement in Powerlong's credit profile is
potential margin slippage in the next one to two years, mainly due
to rising competition and price caps implemented in higher-tier
cities. Powerlong's average land costs rose to RMB6,134 per sq.m.
in the first half of 2020, compared with RMB5,517 in 2019. S&P
expects the company's gross margin to decline to 33%-35% in
2020-2021, from 37.3% in 2019. However, its average land costs,
which accounted for about 20.8% of its average selling price, are
still competitive compared with peers'.

Powerlong's ongoing investments in commercial properties will
continue to provide recurring income, enhancing financial
flexibility. S&P anticipates the company's rental income to surpass
RMB1.5 billion in 2020-2021, covering about 40% of its total
interest expense. However, this is still lower than peers with
sizable investment properties, such as Seazen Group and Longfor
Group Holdings Ltd. at 60%-80%.

Powerlong's steady execution and management expertise in YRD should
temper execution risks from the substantial growth of its
commercial properties and market headwinds from the COVID-19
outbreak. The company has a satisfactory track record of
maintaining an occupancy rate of over 85% and good tenancy
retention.

S&P said, "The positive outlook reflects our view that Powerlong
will continue to achieve solid revenue growth signaling steady
project delivery over the next 12 months. We also believe the
company can maintain its profitability above industry average while
gross margins might drop from 37% to the 33%-35% range over the
same period.

"We also expect Powerlong to continue expanding its commercial
properties smoothly, increasing the stability and scale of its
recurring cash inflows from its shopping mall portfolio.

"We could raise the rating if Powerlong's debt-to-EBITDA ratio (on
a consolidated and proportionate basis) is sustainably below 5x.
This could happen if the company achieves above 30% revenue growth
over the next one to two years through project delivery while
maintaining its gross margin at the 33%-35% range.

"We could revise the outlook back to stable if Powerlong's
debt-to-EBITDA ratio (on a consolidated or proportionate basis)
does not fall below 5x on a sustained basis. This could happen if
the company's sales and margins are lower than our expectation or
its debt-funded land acquisitions and investments are more
aggressive than we anticipated."


XINJIANG ZHONGTAI: S&P Withdraws 'BB+' LT Issuer Credit Rating
--------------------------------------------------------------
S&P Global Ratings withdrew its 'BB+' long-term issuer credit
rating on Xinjiang Zhongtai (Group) Co. Ltd. and 'BB+' issue rating
on the company's US$380 million senior unsecured notes. The ratings
were withdrawn at the company's request.

Xinjiang Zhongtai is wholly owned by the Xinjiang Uyghur Autonomous
Region's State-owned Assets Supervision and Administration
Commission of the government of China.

The company engages in the production and sale of chemicals and
textiles products. The rating outlook was negative at the time of
the withdrawal. This outlook reflected S&P's view that the
company's EBITDA interest coverage ratio could remain below 2.0x on
a sustained basis, if its earnings recovery is slow over the next
12 months.


XINYI INVESTMENT: Fitch Withdraws 'BB-' LT Issuer Default Rating
----------------------------------------------------------------
Fitch Ratings has affirmed at 'BB-' with a Stable Outlook and
simultaneously withdrawn Xinyi City Investment & Development Co.,
Ltd.'s (XCID) Long-Term Foreign- and Local-Currency Issuer Default
Ratings (IDR) for commercial reasons.

Fitch has also affirmed and simultaneously withdrawn the 'BB-'
rating on the USD100 million 7.0% notes due 2022 issued by Xingang
International Holding Limited, which are unconditionally and
irrevocably guaranteed by XCID.

XCID is the largest urban developer in Xinyi city, which is in
Jiangsu province on China's eastern coast. It is involved in
infrastructure construction, primary land development as well as
water supply and commodity sales.

The ratings were withdrawn with the following reason: commercial
purposes

KEY RATING DRIVERS

'Very Strong' Status, Ownership, and Control: XCID was established
as a state-owned limited liability company under Chinese company
law. The Xinyi government maintains full ownership and exerts
strong control over the company through the Xinyi State-owned
Assets Supervision and Administration Commission by appointing
senior management, approving major investment and financing plans,
and closely monitoring operating and financial performance.

'Strong' Support Record and Expectations: The local government has
granted continuous financial support to XCID in the form of asset
injections and operating subsidies. Accumulated capital injections
during 2016-2019 amounted to CNY9.2 billion, equivalent to 46% of
2019 shareholder equity. The annual operating subsidy was around
CNY300 million, or about one-fifth of annual revenue.

'Moderate' Socio-political Implications of Default: XCID provides a
wide range of public services, including infrastructure
development, resettlement-housing construction, primary-land
development and water supply. However, Fitch assesses the
socio-political implications of its default to be 'Moderate', as
the local government can appoint other government-related entities
(GRE) to provide some of its services in short term, if needed.

'Very Strong' Financial Implications of Default: XCID was the
city's largest GRE by total assets at end-2019, accounting for more
than 60% of the total assets of local GREs. Most of its debt is
raised to finance key local infrastructure projects that serve the
public. Fitch believes a default would severely damage the local
government's reputation and constrain its financing capability.

'b-' Standalone Credit Profile: Fitch assesses XCID's revenue
defensibility as 'Weaker' and operating risk as 'Midrange', as its
core business is concentrated in a county-level city with a small
fiscal budget. The company has experienced net operating cash
outflow during the past three years, thus relies on new debt
issuance and government support for refinancing. Its Fitch-adjusted
net debt/EBITDA rose to around 57x in 2019, from 49x in 2018, and
Fitch expects the ratio to continue to rise in the near term.

DERIVATION SUMMARY

XCID ratings are assessed under Fitch's Government-Related Entities
Rating Criteria, reflecting Xinyi city's strong control and
historical support of the company. Fitch has also factored in the
importance of XCID to the city as a primary urban developer. XCID's
Standalone Credit Profile is 'b-' under its Public Sector,
Revenue-Supported Entities Rating Criteria.

RATING SENSITIVITIES

Not applicable, as the ratings have been withdrawn.

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).




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

LIONBRIDGE CAPITAL: S&P Alters Outlook to Stable & Affirms B/B ICRs
-------------------------------------------------------------------
S&P Global Ratings revised its outlook on the long-term ratings on
Hong Kong-based Lionbridge Capital Co. Ltd. to stable from
negative. At the same time, S&P affirmed the 'B' long-term and 'B'
short-term issuer credit ratings on the company.

The outlook revision reflects Lionbridge's improving funding
profile counterbalanced by its weakened capitalization.
Lionbridge's established position in the niche commercial vehicle
leasing market is also a contributing supporting factor.

Lionbridge's funding capabilities have improved. CCB Trust, a
subsidiary of China Construction Bank Corp. (CCB), has become the
largest shareholder of Lionbridge's parent with a 32% shareholding
after acquiring a 30% interest from the previous largest
shareholder, Bain Capital Lionbridge Cayman Ltd. (BCL). The
association with CCB has helped Lionbridge further widen its
funding options. CCB, CCB Trust, and Lionbridge have signed a
Chinese renminbi (RMB) 10 billion strategic cooperation agreement
that would allow CCB to purchase inclusive finance assets from
Lionbridge. CCB could also, through its wealth management
subsidiary, purchase asset-backed securities issued by Lionbridge.
The association with CCB also allows Lionbridge to negotiate more
favorable pricing for its loan facilitation business with other
partnering banks.

S&P said, "We expect Lionbridge's capitalization to remain strained
as measured by our risk-adjusted capital (RAC) ratio. Based on our
forecast, Lionbridge's RAC ratio will likely decline to about 4% by
2021 mainly because of expected strong asset growth (at a compound
annual growth rate of 16% over 2020 and 2021). Growth in 2020 is
likely to slow noticeably from the rapid pace in 2019 because of
COVID-19. The growth rate is likely to pick up in 2021 to above
20%. In our calculation, we have only included parts of
Lionbridge's equity capital base that are deemed to be
loss-absorbing at an ongoing basis."

While Lionbridge has a plan to repay its US$160 million bonds, S&P
does not expect its leverage to change materially.

CCB Trust and BCL are the two largest shareholders of Lionbridge
through Lionbridge Cayman. S&P does not expect either of these
shareholders to provide extraordinary support to Lionbridge in
times of difficulty.

The stable outlook reflects S&P's view that Lionbridge could
maintain its established position in the niche commercial vehicle
leasing market and an adequate funding and liquidity profile over
the next year.

S&P could lower the rating if:

-- Lionbridge's capitalization as measured by S&P's RAC ratio
weakens significantly to below 3%. This could happen if the
company's asset growth outpaces its profit accumulation and capital
injection substantially; or

-- The company's asset quality deteriorates significantly,
indicating a potential shift in risk appetite or weakened credit
risk controls.

In a rather remote scenario, S&P could upgrade Lionbridge if:

-- The company maintains its leading position in the commercial
vehicle leasing market, and demonstrates a sound operating track
record; or

-- Its capitalization strengthens materially and sustainably. This
could happen if the common shareholders equity base of Lionbridge
Cayman, Lionbridge's parent holding company, strengthens.




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

AGRO FRESH: CRISIL Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------
CRISIL said the ratings on bank facilities of Shree Agro Fresh Ulo
Cold Storage (SAFUCS) continues to be 'CRISIL D Issuer Not
Cooperating'.

                   Amount
   Facilities    (INR Crore)    Ratings
   ----------    -----------    -------
   Proposed Long      .25       CRISIL D (ISSUER NOT COOPERATING)
   Term Bank
   Loan Facility      

   Term Loan          8.75      CRISIL D (ISSUER NOT COOPERATING)

CRISIL has been consistently following up with SAFUCS for obtaining
information through letters and emails dated January 14, 2020 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 SAFUCS, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SAFUCS is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of SAFUCS
continues to be 'CRISIL D Issuer Not Cooperating'.

SAFUCS was set up in June 2014 by Mrs. Sadhana Maloo, Mr. S K
Singh, Mr. Dineshchandra Maheshwari, and Mr. Narendrakumar Sharma.
The firm has a cold storage facility at Hallol, Gujarat.


ANANT VENKATESH: CRISIL Lowers Rating on INR15cr Loan to B
----------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Anant
Venkatesh Construction LLP (AVCLP) to 'CRISIL B/Stable Issuer Not
Cooperating' from 'CRISIL BB-/Stable Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Rupee Term Loan        15        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB-/Stable ISSUER NOT
                                    COOPERATING')

CRISIL has been consistently following up with AVCLP for obtaining
information through letters and emails dated January 14, 2020 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 AVCLP, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on AVCLP is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of AVCLP
Revised to 'CRISIL B/Stable Issuer Not Cooperating' from 'CRISIL
BB-/Stable Issuer Not Cooperating'.

Formed in 2014, AVCLP is a Pune-based limited liability
partnership. AVCLP is currently executing a residential real estate
project, Anant Venkatesh, at Sus-Pashan in Pune. The firm is
promoted by Dajikaka Gadgil Developers Pvt Ltd which in turn
belongs to the Gadgil family of Pune (promoters of PN Gadgil
Jewellers Pvt Ltd).


BALAJI PARABOILED: CRISIL Keeps B Debt Ratings in Not Cooperating
-----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Sri Balaji Paraboiled
Rice Mills Private Limited (SBPRMPL) continues to be 'CRISIL
B/Stable Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           2.25       CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)

   Proposed Long Term    6.25       CRISIL B/Stable (ISSUER NOT
   Bank Loan Facility               COOPERATING)

CRISIL has been consistently following up with SBPRMPL for
obtaining information through letters and emails dated January 14,
2020 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 SBPRMPL, which restricts
CRISIL's ability to take a forward looking view on the entity's
credit quality. CRISIL believes that rating action on SBPRMPL is
consistent with 'Assessing Information Adequacy Risk'. Based on the
last available information, the ratings on bank facilities of
SBPRMPL continues to be 'CRISIL B/Stable Issuer Not Cooperating'.

Incorporated in 1999, SBPRMPL mills and processes paddy into rice.
The manufacturing plant is in Nalagonda district, Telangana. Mr.
Gouru Srinivas and Mr. Gouru Saroja and their family members are
the promoters.


BMW IRON: CRISIL Withdraws B+ Rating on INR34.5cr LT Loan
---------------------------------------------------------
Due to inadequate information and in line with the Securities and
Exchange Board of India guidelines, CRISIL had migrated its rating
on the long term bank facilities of BMW Iron and Steel Industries
Limited (BMWISL) to 'CRISIL B+/Stable Issuer Not Cooperating'.
However, BMWISL has subsequently shared the requisite information
for a comprehensive review of the ratings. Consequently, CRISIL
migrated the rating on the long term bank facilities of BMWISL to
'CRISIL B+/Stable' from 'CRISIL B+/Stable Issuer Not Cooperating'
and subsequently has withdrawn the rating at the entity's request,
and upon receipt of the no-dues certificate from the banker. The
rating action is in line with CRISIL's policy on withdrawal of
ratings.

                    Amount
   Facilities     (INR Crore)    Ratings
   ----------     -----------    -------
   Long Term Loan      34.5      CRISIL B+/Stable (Migrated from
                                 'CRISIL B+/Stable ISSUER NOT
                                 COOPERATING'; Rating Withdrawn)

Incorporated in fiscal 2014, BMWISL undertakes job work relating to
galvanizing, slitting and production of tubes used in irrigation
and construction for TATA Steel also from the last quarter of
fiscal 2015, it has started providing transportation services to
them and the same acts as an ancillary line of business. BMWISL is
a part of BMW group in Kolkata having BMW Industries Ltd as its
flagship company.


BRIJRAJ AGRO: CRISIL Keeps B Debt Ratings in Not Cooperating
------------------------------------------------------------
CRISIL said the ratings on bank facilities of Brijraj Agro Products
Private Limited (BAPPL) continues to be 'CRISIL B/Stable Issuer Not
Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           3.4        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)

   Term Loan             2.7        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with BAPPL for obtaining
information through letters and emails dated January 14, 2020 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 BAPPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on BAPPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of BAPPL
continues to be 'CRISIL B/Stable Issuer Not Cooperating'.

BAPPL was incorporated in 1993, at Kanpur, by the promoter, Mr. Raj
Kumar Kaya. The company is engaged in manufacturing of Kattha, used
in manufacturing of Pan masala. Additionally, the company has also
started manufacturing of Glucose and maltodextrin.


GOPIMAL KAUR: CRISIL Keeps D on INR28cr Loan in Not Cooperating
---------------------------------------------------------------
CRISIL said the ratings on bank facilities of Gopimal Kaur Sain
Industries Private Limited (GKSIPL) continues to be 'CRISIL D
Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Long Term Loan         28        CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with GKSIPL for obtaining
information through letters and emails dated January 14, 2020 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 GKSIPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on GKSIPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of GKSIPL
continues to be 'CRISIL D Issuer Not Cooperating'.

Established in 2013, in Ludhiana, by Mr. Tarsem Mittal GKSIPL
started trading of textile yarns and knitted cloths. The company
later ventured into manufacturing of knitted cloths from fiscal
2017. The operations of the company is managed by Mr. Tarsem
Mittal, Mr. Gaurav Mittal and Mr. Gautam Mittal.


HIGHLAND PRODUCE: CRISIL Lowers Rating on INR6.91cr Loan to B
-------------------------------------------------------------
CRISIL has revised the ratings on bank facilities of The Highland
Produce Co. Limited (Highland) revised to 'CRISIL B/Stable/CRISIL
A4 Issuer Not Cooperating' from 'CRISIL BB/Stable/CRISIL A4+ Issuer
Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Bank Guarantee        1.75       CRISIL A4 (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL A4+ ISSUER NOT
                                    COOPERATING')

   Cash Credit           6.91       CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB/Stable ISSUER NOT
                                    COOPERATING')

   Long Term Loan        4.00       CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB/Stable ISSUER NOT
                                    COOPERATING')

CRISIL has been consistently following up with Highland for
obtaining information through letters and emails dated January 14,
2020 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 Highland, which restricts
CRISIL's ability to take a forward looking view on the entity's
credit quality. CRISIL believes that rating action on Highland is
consistent with 'Assessing Information Adequacy Risk'. Based on the
last available information, the ratings on bank facilities of
Highland revised to 'CRISIL B/Stable/CRISIL A4 Issuer Not
Cooperating' from 'CRISIL BB/Stable/CRISIL A4+ Issuer Not
Cooperating'.

Established in 1925, Highland is a part of the AV Thomas group of
companies, which has interests in plantations, agricultural
commodities, rubber, leather, bio-technology, solvent extraction,
and software. The company mainly produces the crush-tear-curl (CTC)
variety of tea. Highland sells around 60% of its produce to AV
Thomas and Company Ltd (Flagship Company of the AV Thomas group)
and the remainder at auctions. Apart from tea business (Plantation
segment), Highland operates a wood division in which it
manufactures doors and panels and a small portion of revenue is
also derived from the sale of cardamom.


KALINDI ISPAT: Ind-Ra Migrates BB+ Issuer Rating to Non-Cooperating
-------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Kalindi Ispat Pvt
Ltd.'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:

-- INR117.5 mil. Fund-based limits migrated to non-cooperating
     category with IND BB+ (ISSUER NOT COOPERATING) rating; and

-- INR10 mil. Non-fund-based limits migrated to non-cooperating
     category with IND A4+ (ISSUER NOT COOPERATING) rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
August 6, 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 2004, Kalindi Ispat manufactures sponge iron at its
60,000 metric-tons-per-annum facilities in Bilaspur, Chhattisgarh.


KARUNAMAYE BEVERAGES: CRISIL Keeps B- Ratings in Not Cooperating
----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Sri Karunamaye
Beverages Private Limited (SKBPL) continues to be 'CRISIL B-/Stable
Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Long Term Loan         2         CRISIL B-/Stable (ISSUER NOT
                                    COOPERATING)

   Proposed Long Term     5         CRISIL B-/Stable (ISSUER NOT
   Bank Loan Facility               COOPERATING)

CRISIL has been consistently following up with SKBPL for obtaining
information through letters and emails dated January 14, 2020 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 SKBPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SKBPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of SKBPL
continues to be 'CRISIL B-/Stable Issuer Not Cooperating'.

SKBPL was set up in 2013 by Mr. Manas Chakraborty. The company
manufactures polyethylene terephthalate (PET) bottles and
polypropylene (PP) caps. It started commercial operations in July
2017. The company is currently setting up a facility for
manufacturing packaged drinking water, soda, and soft drinks under
own brands.


KASKAL FACADE: Insolvency Resolution Process Case Summary
---------------------------------------------------------
Debtor: Kaskal Facade Private Limited
        801, Hari Om IT Park
        S/H, 54/4, Nr Jaya Park
        NL Dalmiya School To
        Hari Om Compl Road
        Mira Road East Thane
        MH 401107

Insolvency Commencement Date: July 15, 2020

Court: National Company Law Tribunal, Mumbai Bench

Estimated date of closure of
insolvency resolution process: January 11, 2021
                               (180 days from commencement)

Insolvency professional: Rupnarayan Shankarlal More

Interim Resolution
Professional:            Rupnarayan Shankarlal More
                         No. 101, Gulmohar Cooperative
                         Housing Society Limited
                         Aarey Cross Road
                         Near Rajasthani Hall
                         Goregaon (West)
                         Mumbai 400104
                         E-mail: irpkaskalfacade@gmail.com

Last date for
submission of claims:    September 1, 2020


M.A. ENTERPRISES: Ind-Ra Assigns BB- Loan Rating, Outlook Stable
----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has taken the following rating
actions on M.A. Enterprises' (MAE) bank facilities:

-- Long-term issuer rating affirmed with IND BB-/Stable rating;

-- INR10 mil. Fund-based limit affirmed with IND BB-/Stable
     rating;

-- INR0.1 mil. Fund-based limit assigned with IND BB-/Stable
     rating;

-- INR390 mil. Non-fund-based limit affirmed with IND A4+ rating;

     and

-- INR380 mil. Non-fund-based limit assigned with IND A4+ rating.

KEY RATING DRIVERS

The ratings reflect MAE's moderate scale of operations. The
company's revenue grew to INR3,252.23 million in FY20 (FY19:
INR2,687.79 million) driven by a sustained improvement in the
domestic demand for edible oil. MAE enjoys strong presence in its
operational regions. In the three months ended May 2020, MAE booked
a revenue of INR150 million, and the agency expects the company to
report muted revenue growth in FY21 owing to the prolonged COVID-19
led lockdown. FY20 financials are provisional in nature.

The ratings also factor in the company's average margin. MAE's
margin contracted to 2.1% in FY20 (FY19: 2.95%) due to an increase
in the cost of raw materials. The company operates in a highly
competitive edible oil industry, which has a large number of
organized and unorganized players with low entry barriers,
resulting in thin margins. The company's return on capital employed
stood at 12.1% in FY20 (FY19: 15%).

The ratings are further constrained by the company's weak credit
metrics. Its gross interest coverage (operating EBITDA/gross
interest expense) improved to 1.50x in FY20 (FY19: 0.96x), due to a
reduction in interest expenses to INR48.91 million (INR82.75
million). Its net leverage (total adjusted net debt/operating
EBITDAR), however, deteriorated to 15.72x in FY20 (FY19: 5.85x),
due to the inclusion of the outstanding letters of credit (LCs) in
the total adjusted debt, which led to a higher net debt of
INR1,075.96  million (INR465.34 million).

Liquidity Indicator - Poor: MAE had near full utilization of the
non-fund based limits during the 12 months ended July 2020. The
cash flow from operations turned positive to INR170.05 million in
FY20 (FY19: negative INR185.78 million) owing to the substantial
improvement in the working capital cycle to 1 day (25 days) due to
an elongated creditor days. The company maintains no inventory as
it sells its products almost immediately. The company has no
repayment obligation except its auto and car loan, for which it has
availed of the moratorium benefit announced by the Reserve Bank of
India. At FYE20, of the total of INR1,840 million creditors, INR800
million was backed by LCs and of the total debtors of INR1,880
million, INR940 million were backed by LCs.

The ratings, however, continue to draw comfort from the partners' a
decade-long experience in the trading of edible oil, which has
helped them establish a strong network with suppliers and
customers.

RATING SENSITIVITIES

Positive: A substantial improvement in the revenue, leading to a
sustained improvement in the margins, credit metrics and liquidity,
will be positive for the ratings.

Negative: Deterioration in the profitability and liquidity, leading
to the gross interest coverage reducing below 1.3x will be negative
for the ratings.

COMPANY PROFILE

Incorporated in 2015 in Savita Vihar, Delhi, MAE is a partnership
firm engaged in the importing and trading of edible oil in India.


MAHA LUXMI: CRISIL Keeps B Debt Ratings in Not Cooperating
----------------------------------------------------------
CRISIL said the ratings on bank facilities of Shree Maha Luxmi
Bricks Co. (SMLBC) continues to be 'CRISIL B/Stable Issuer Not
Cooperating'.

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

   Long Term Loan         8         CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)

   Proposed Fund-         3         CRISIL B/Stable (ISSUER NOT
   Based Bank Limits                COOPERATING)

CRISIL has been consistently following up with SMLBC for obtaining
information through letters and emails dated January 14, 2020 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 SMLBC, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SMLBC is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of SMLBC
continues to be 'CRISIL B/Stable Issuer Not Cooperating'.

Shree Maha Luxmi Bricks Company (SMLBC) is a proprietorship concern
incorporated in 2017. The company is planning to setup bricks and
tiles manufacturing unit in Safidon District in Jind, Haryana,
wherein bricks manufacturing would constitute around 90-95% of the
operations and revenues. The company is managed and promoted by Mr.
Pradeep Kumar Bansal. The operations are expected to commence from
fiscal 2019.


MAHALAXMI INDUSTRIES: CRISIL Keeps B Debt Rating in Not Cooperating
-------------------------------------------------------------------
CRISIL said the ratings on bank facilities of Shri Mahalaxmi
Industries - Jodhpur (SMIJ) continues to be 'CRISIL B/Stable Issuer
Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            5.5       CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with SMIJ for obtaining
information through letters and emails dated February 12, 2020 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 SMIJ, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SMIJ is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of SMIJ
continues to be 'CRISIL B/Stable Issuer Not Cooperating'.

SMIJ is a proprietorship that manufactures and processes blanched
peanut and groundnut (plain and roasted) in shell and related
products. Additionally, it trades in maitra seed, sabudana, garlic,
castor seed, raida, and spices, such as haldi, mirchi, jeera, old
bardana, and so on. Manufacturing facility is in Jodhpur, and end
product is supplied all over India, mainly to Mumbai and Kolkata.


MAHATHI SOFTWARE: Ind-Ra Affirms BB Issuer Rating, Outlook Stable
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed Mahathi Software
Private Limited's (MSPL) Long-Term Issuer Rating at 'IND BB'. The
Outlook is Stable.

The instrument-wise rating actions are as follows:

-- INR270 mil. Proposed term loan* affirmed with Provisional IND
     BB/Stable rating; and

-- INR30 mil. Proposed working capital* affirmed with Provisional

     IND BB/Stable/Provisional IND A4+ rating.

*The final ratings will be assigned following the issuance and the
receipt of the final executed transaction documentation, conforming
to the information already received by Ind-Ra.

KEY RATING DRIVERS

The ratings reflect MSPL's continued small scale of operations, as
indicated by revenue of INR313 million in FY20 (FY19: INR303
million). Despite the increase, the revenue in FY20 was lower than
Ind-Ra's expectation of INR400 million, on account of a slowdown in
the software business, resulting from the COVID-19-led lockdown and
a failure to meet the target occupancy levels. MSPL entered into
another agreement with Andor Health LLC in April 2020 for providing
software services. However, Ind-Ra believes the revenue in FY21 to
be line with the FY20 levels as the economies of the new agreement
would transpire from FY22. MSPL recorded revenue of INR61.25
million in 1QFY21.

Liquidity Indicator - Stretched: MSPL's cash flow from operations
plunged to INR33.3 million in FY20 (FY19: INR138.72 million),
mainly due to an increase in working capital requirements.
Consequently, its free cash flow also fell to INR6.29 million in
FY20 (FY19: INR44.18 million). Ind-Ra expects the free cash flow to
remain positive in the medium term, mainly on account of a limited
capex. MSPL's utilization of property overdraft facility and other
working capital facilities was more than 95% during the 12 months
ended July 2020. The company had cash and cash equivalents of
INR2.93 million at FY20 (FY19: INR10 million), as against debt of
INR311.41 million (INR315.45 million).The company has availed the
Reserve Bank of India-prescribed moratorium for its working capital
facilities over March-August 2020.

The ratings remain constrained by geographical and customer
concentration risk. The company generates all of its software
segment revenue from the US-based customers Allscripts Healthcare
Solutions, Inc and Andor Health LLC. However, the company's
customer retention ability in the lease rental business is yet to
be seen as it has ventured into the segment in 2018.

The ratings continue to factor in MSPL's average EBITDA margins of
50.79% in FY20 (FY19: 50.37%) with a return on capital employed of
14% (13%). Ind-Ra expects the margins to remain at around 50% in
FY21, owing to the limited overheads associated with the software
and rental businesses.

However, the ratings remain supported by MSPL's continued strong
credit metrics on account of its robust absolute EBITDA. The
company's interest coverage (operating EBITDA/gross interest
expense) improved to 5.10x in FY20 (FY19: 3.45x) on account of a
decline in its interest expense, resulting from the prepayment of
term loan and thus, meeting Ind-Ra's expectations of the interest
coverage increasing above 4x in FY20. Its net leverage (net
debt/operating EBITDA) also improved to 1.94x in FY20 (FY19:
2.06x), mainly on account of the pre-payment of high cost debts.
Ind-Ra expects the credit metrics to improve further over the
medium term on account of the absence of any debt-led capex.

RATING SENSITIVITIES

Negative: A decline in the revenue or EBITDA, leading to the
interest coverage reducing below 2.5x, on a sustained basis, would
be negative for the ratings.

Positive: An increase in the scale of operations and absolute
EBITDA, along with an improvement in the liquidity position, all on
a sustained basis, would be positive for the ratings.

COMPANY PROFILE

Incorporated in 2001, MSPL provides software services to healthcare
organizations. The company is also engaged in leasing of a
three-storey building with a built-up area of 1,35,000sf in
Rushikonda, Vishakapatnam to various software companies.


NAVANAAMI PROJECTS: CRISIL Keeps B+ Debt Rating in Not Cooperating
------------------------------------------------------------------
CRISIL said the ratings on bank facilities of Navanaami Projects
Private Limited (NPPL) continues to be 'CRISIL B+/Stable Issuer Not
Cooperating'.

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

CRISIL has been consistently following up with NPPL for obtaining
information through letters and emails dated January 14, 2020 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 NPPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on NPPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of NPPL
continues to be 'CRISIL B+/Stable Issuer Not Cooperating'.

Established in 2005 as a private limited company, Navanaami
projects Pvt Ltd (NPPL) is engaged in residential real estate
construction business in Hyderabad and Bangalore. The firm has two
on-going projects currently ' one in Hyderabad and one in
Bangalore. The firm is promoted and managed by Mr.G Venkat Naveen.


R. SENGUTTUVAN: CRISIL Keeps B on INR30cr Loans in Not Cooperating
------------------------------------------------------------------
CRISIL said the ratings on bank facilities of R. Senguttuvan (RS)
continues to be 'CRISIL B/Stable Issuer Not Cooperating'.

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

   Term Loan                20        CRISIL B/Stable (ISSUER NOT
                                      COOPERATING)

CRISIL has been consistently following up with RS for obtaining
information through letters and emails dated January 14, 2020 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 RS, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on RS is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of RS
continues to be 'CRISIL B/Stable Issuer Not Cooperating'.

RS is a Chennai-based proprietorship firm that rents out warehouses
to various large companies. The firm currently owns around 17
warehouses, with total area of 1.54 lakh square feet.


R.K. COTTON: CRISIL Lowers Rating on INR6cr Cash Loan to B
----------------------------------------------------------
CRISIL has revised the ratings on bank facilities of R.K. Cotton &
Ginning Industries (RKC) to 'CRISIL B/Stable Issuer Not
Cooperating' from 'CRISIL BB-/Stable Issuer Not Cooperating'.

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

   Proposed Cash           1        CRISIL B/Stable (ISSUER NOT
   Credit Limit                     COOPERATING; Revised from
                                    'CRISIL BB-/Stable ISSUER NOT
                                    COOPERATING')

   Proposed Long Term      1.95     CRISIL B/Stable (ISSUER NOT
   Bank Loan Facility               COOPERATING; Revised from
                                    'CRISIL BB-/Stable ISSUER NOT
                                    COOPERATING')

   Term Loan               1.05     CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB-/Stable ISSUER NOT
                                    COOPERATING')

CRISIL has been consistently following up with RKC for obtaining
information through letters and emails dated January 14, 2020 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 RKC, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on RKC is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of RKC
Revised to 'CRISIL B/Stable Issuer Not Cooperating' from 'CRISIL
BB-/Stable Issuer Not Cooperating'.

RKC was set up in 2012 as a partnership firm by Mr. K Ramesh and
Mr. K Anantharamulu. The firm gins and presses cotton at its unit
in Karimnagar, Telangana. Firm's manufacturing facility has 36
medium-sized ginning machines with total capacity of 53 tonne per
day.


RADHEY RADHEY: CRISIL Lowers Rating on INR22.8CR Loan to B
----------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Shree Radhey
Radhey Ispat Private Limited (SRRIPL; part of the Shree Radhey
Radhey group) to 'CRISIL B/Stable Issuer Not Cooperating' from
'CRISIL BB/Stable Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit          22.8        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB/Stable ISSUER NOT
                                    COOPERATING')

   Long Term Loan       11.5        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB/Stable ISSUER NOT
                                    COOPERATING')

   Proposed Long         0.7        CRISIL B/Stable (ISSUER NOT
   Term Bank Loan                   COOPERATING; Revised from
   Facility                         'CRISIL BB/Stable ISSUER NOT
                                    COOPERATING')

CRISIL has been consistently following up with SRRIPL for obtaining
information through letters and emails dated January 14, 2020 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 SRRIPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SRRIPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of SRRIPL
Revised to 'CRISIL B/Stable Issuer Not Cooperating' from 'CRISIL
BB/Stable Issuer Not Cooperating'.

For arriving at its ratings, CRISIL has combined the business and
financial risk profiles of SRRIPL, Kundan Casting Private Ltd
(KCL), and Sigma Casting Ltd (SCL). The companies, collectively
referred to as the Shree Radhey Radhey group, have operational
linkages, the same management, and a common marketing network.

The Shree Radhey Radhey group is owned and managed by Mr. N K Jain
and his son Mr. Naveen Jain.

In 2008, the group acquired SRRIPL, which was established in 2002.
The company manufactures thermosmechanically treated (TMT) bars
under the Kamdhenu brand.

KCPL (established in 1994) and SCL (1990), manufacture ingots and
trade in various products such as iron ore, steel scrap,
machinery-related products, pre-fabricated buildings, and cloth.


RAGAM METAL: CRISIL Lowers Rating on INR8.75cr Loan to B
--------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Ragam Metal
Products Private Limited (RMPPL) to 'CRISIL B/Stable Issuer Not
Cooperating' from 'CRISIL BB/Stable Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            5         CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB/Stable ISSUER NOT
                                    COOPERATING')

   Proposed Working       8.75      CRISIL B/Stable (ISSUER NOT
   Capital Facility                 COOPERATING; Revised from
                                    'CRISIL BB/Stable ISSUER NOT
                                    COOPERATING')

   Term Loan              1.25      CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB/Stable ISSUER NOT
                                    COOPERATING')

CRISIL has been consistently following up with RMPPL for obtaining
information through letters and emails dated January 14, 2020 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 RMPPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on RMPPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of RMPPL
Revised to 'CRISIL B/Stable Issuer Not Cooperating' from 'CRISIL
BB/Stable Issuer Not Cooperating'.

Established in 1988, RMPPL manufactures sheet metal components. The
company is promoted by Mr. C.Rammohan and Mrs. Beena Rammohan.


RAPID TRANSPAY: CRISIL Lowers Rating on INR8cr Loans to B
---------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Rapid Transpay
Private Limited (RTPL) to 'CRISIL B/Stable Issuer Not Cooperating'
from 'CRISIL BB+/Stable Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            1         CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB+/Stable ISSUER NOT
                                    COOPERATING')

   Term Loan              7         CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB+/Stable ISSUER NOT
                                    COOPERATING')

CRISIL has been consistently following up with RTPL for obtaining
information through letters and emails dated January 14, 2020 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 RTPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on RTPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of RTPL
Revised to 'CRISIL B/Stable Issuer Not Cooperating' from 'CRISIL
BB+/Stable Issuer Not Cooperating'.

RTPL, based in Delhi, was incorporated in March 2010, promoted by
Mr. Vivek Anand and Mr. Sumanth Koorapati. The company provides
information technology services, consultation, and business
solutions primarily in the ambit of modernisation of urban
transport by means of innovative technological solutions. The
company possesses extensive expertise in providing
technology-enabled payment solutions to a host of industries.


ROCKWELL MINERALS: CRISIL Keeps B on INR5cr Debt in Not Cooperating
-------------------------------------------------------------------
CRISIL said the ratings on bank facilities of Rockwell Minerals and
Metals Private Limited (RMAMPL) continues to be 'CRISIL B/Stable
Issuer Not Cooperating'.

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

CRISIL has been consistently following up with RMAMPL for obtaining
information through letters and emails dated January 14, 2020 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 RMAMPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on RMAMPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of RMAMPL
continues to be 'CRISIL B/Stable Issuer Not Cooperating'.

Established in 2010, Rockwell Minerals and metals Private Limited
(RMAMPL) is into trading of Mill scale and iron ore etc. The
company is procuring these from domestic manufacturers and is
selling the same to other traders in Maharashtra.


ROLAND CERAMIC: CRISIL Keeps B+ Debt Ratings in Not Cooperating
---------------------------------------------------------------
CRISIL said the ratings on bank facilities of Roland Ceramic (RC)
continues to be 'CRISIL B+/Stable/CRISIL A4 Issuer not
cooperating'.

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

   Cash Credit            2         CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

   Proposed Long Term     6.22      CRISIL B+/Stable (ISSUER NOT
   Bank Loan Facility               COOPERATING)

   Term Loan              2         CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with RC for obtaining
information through letters and emails dated January 14, 2020 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 RC, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on RC is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of RC
continues to be 'CRISIL B+/Stable/CRISIL A4 Issuer not
cooperating'.

Formed in 2013, RC, promoted by Mr. Nitinbhai Dalsaniya, Mr.
Manishbhai Moradiya and Mr. Rohanbhai Kundaria, manufactures wall
tiles under the Roland brand.


S.M. EDIBLES: CRISIL Keeps B+ on INR20cr Loans in Not Cooperating
-----------------------------------------------------------------
CRISIL said the ratings on bank facilities of S.M. Edibles Private
Limited (SMEPL) continues to be 'CRISIL B+/Stable Issuer Not
Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            20        CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with SMEPL for obtaining
information through letters and emails dated January 14, 2020 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 SMEPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SMEPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of SMEPL
continues to be 'CRISIL B+/Stable Issuer Not Cooperating'.

SMEPL, incorporated in 2005, trades in sugar. It is the flagship
company of the SM group, which has interests in sugar trading,
rolling mills, cylinder manufacturing, electronics distribution,
and medical supplies. The company is promoted by Mr. Rakesh Kumar
Agarwal and Mr. Arvind Kumar Agarwal. It has offices in Noida,
Ghaziabad, and Muzaffarnagar in Uttar Pradesh, and in Delhi.


S.M.P. EXIM: CRISIL Lowers Rating on INR2cr Loans to B
------------------------------------------------------
CRISIL has revised the ratings on bank facilities of S.M.P. Exim
Private Limited (SMPL) to 'CRISIL B/Stable Issuer Not Cooperating'
from 'CRISIL BB-/Stable Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)    Ratings
   ----------       -----------    -------
   Cash Credit            5        CRISIL B/Stable (ISSUER NOT
                                   COOPERATING; Revised from
                                   'CRISIL BB-/Stable ISSUER NOT
                                   COOPERATING')

   Proposed Long Term     1.5      CRISIL B/Stable (ISSUER NOT
   Bank Loan Facility              COOPERATING; Revised from
                                   'CRISIL BB-/Stable ISSUER NOT
                                   COOPERATING')

CRISIL has been consistently following up with SMPL for obtaining
information through letters and emails dated January 14, 2020 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 SMPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SMPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of SMPL
Revised to 'CRISIL B/Stable Issuer Not Cooperating' from 'CRISIL
BB-/Stable Issuer Not Cooperating'.

Established in 2005 by Gupta Family, SMPL trades in sugar and is a
part of the SM group that has interests in sugar trading, rolling
mills, cylinder manufacturing, electronics distribution, and
medical supplies. The company mainly caters to institutional
requirement and operates from its office in Fatehpuri, Delhi.


SAHAJ FINVEST: CRISIL Keeps B Debt Ratings in Not Cooperating
-------------------------------------------------------------
CRISIL said the ratings on bank facilities of Sahaj Finvest Private
Limited (SFPL) continues to be 'CRISIL B/Stable Issuer Not
Cooperating'.

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

CRISIL has been consistently following up with SFPL for obtaining
information through letters and emails dated January 14, 2020 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 SFPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SFPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of SFPL
continues to be 'CRISIL B/Stable Issuer Not Cooperating'.

SFPL, incorporated in August 2006, installs and supplies
grid-connected solar panels, electric lines, and transformers. Mr.
Raj Kumar Khandelwal and Mr. Sandeep Jhawar are the promoters.
Operations of the company started in fiscal 2018.


SAI AGRO: CRISIL Lowers Rating on INR5cr Cash Loan to 'B'
---------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Sai Agro
Industries - Basmatnagar (SAI) to 'CRISIL B/Stable Issuer Not
Cooperating' from 'CRISIL BB+/Stable Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           5          CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB+/Stable ISSUER NOT
                                    COOPERATING')

   Proposed Cash         5          CRISIL B/Stable (ISSUER NOT
   Credit Limit                     COOPERATING; Revised from
                                    'CRISIL BB+/Stable ISSUER NOT
                                    COOPERATING')

CRISIL has been consistently following up with SAI for obtaining
information through letters and emails dated February 12, 2020 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 SAI, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SAI is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of SAI
Revised to 'CRISIL B/Stable Issuer Not Cooperating' from 'CRISIL
BB+/Stable Issuer Not Cooperating'.

Set up in 2013 as a partnership firm by Mr. Shyam Murkya, Mr. Anil
Murkya, and Mr. Laxminarayan Murkya, SAI processes and trades
turmeric. Unit in Hingoli, Maharashtra, has total capacity of 50
tonne per day. Operations are managed by Mr. Shyam Murkya.


SAIVENKATA NIRMITI: CRISIL Lowers Rating on INR9.6cr Loan to B
--------------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Saivenkata
Nirmiti Private Limited (SAI) to 'CRISIL B/Stable Issuer Not
Cooperating' from 'CRISIL BB-/Stable Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Rupee Term Loan        9.6       CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB-/Stable ISSUER NOT
                                    COOPERATING')

CRISIL has been consistently following up with SAI for obtaining
information through letters and emails dated January 14, 2020 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 SAI, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SAI is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of SAI
Revised to 'CRISIL B/Stable Issuer Not Cooperating' from 'CRISIL
BB-/Stable Issuer Not Cooperating'.

Sai was set up in 2011 by Mr. Prabhakar Thorat and Mr. Shrikant
Bhondave and their families. The company is the part of the Sai
Venkata group and is engaged in real estate development largely in
Pimpri-Chincwad area of Pune. Sai currently is undertaking real
estate development, Astoria Royal a residential cum commercial
project with 198 residential units and around 10 commercial units
in Ravet, Pune.


SATHI AGRICULTURAL: CRISIL Keeps B- Debt Rating in Not Cooperating
------------------------------------------------------------------
CRISIL said the rating on bank facilities of Sathi Agricultural
Multi Himghar Private Limited (SAMHPL) continues to be 'CRISIL
B-/Stable Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Proposed Fund-        7          CRISIL B-/Stable (ISSUER NOT
   Based Bank Limits                COOPERATING)

CRISIL has been consistently following up with SAMHPL for obtaining
information through letters and emails dated January 14, 2020 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 SAMHPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SAMHPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of SAMHPL
continues to be 'CRISIL B-/Stable Issuer Not Cooperating'.

Incorporated in 2013 and promoted by Mr. Sekh Golam Hossain, Ms
Aspia Begam, Mr. Angshuman Dawn, and Mr. Sekh Mahammad Ali Hossain,
SAMHPL operates a potato cold storage unit at Purba Bardhaman
district of West Bengal. The unit has capacity of 50,000 quintal
per annum.


SHALIMAR OVERSEAS: CRISIL Keeps B Debt Ratings in Not Cooperating
-----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Shalimar Overseas
Private Limited (SOPL) continue to be 'CRISIL B/Stable Issuer Not
Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           .75        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)

   Proposed Cash        1.46        CRISIL B/Stable (ISSUER NOT
   Credit Limit                     COOPERATING)

   Proposed Term Loan   8.54        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)

   Term Loan            2.25        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with SOPL for obtaining
information through letters and emails dated January 14, 2020 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 SOPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SOPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of SOPL
continues to be 'CRISIL B/Stable Issuer Not Cooperating'.

Incorporated in 1995, SOPL is promoted by Mr. Panna Lal Baid and
his sons, Mr. Alok Jain and Mr. Abhay Jain. It manufactures shoe
uppers and has a registered office in New Delhi.


SHUBHAM COTTON: CRISIL Keeps B on INR18cr Loans in Not Cooperating
------------------------------------------------------------------
CRISIL said the ratings on bank facilities of Shubham Cotton Mills
Private Limited (SCMPL) continue to be 'CRISIL B/Stable Issuer Not
Cooperating'.

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

   Term Loan              0.5       CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with SCMPL for obtaining
information through letters and emails dated January 14, 2020 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 SCMPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SCMPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of SCMPL
continues to be 'CRISIL B/Stable Issuer Not Cooperating'.

SCMPL, incorporated in 1988, gins cotton, extracts oil from cotton
seeds, and manufactures guar gum and its by-products, churi and
korma. The company's processing and manufacturing unit is in
Ellenabad (Sirsa; Haryana). It was acquired by the current
promoters, Mr. Vinod Kumar, Mr. Naresh Kumar, and Mr. Mukesh Kumar,
in 2003, from Mr. Ajay Kumar, Mr. Raj Kumar, and Mr. Prem Kumar.


SIDDHIVINAYAK SALES: CRISIL Lowers Rating on INR10cr Loan to B
--------------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Shree
Siddhivinayak Sales Corporation (SSSC; a part of the Bajoria group)
to 'CRISIL B/Stable Issuer Not Cooperating' from 'CRISIL BB/Stable
Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            10        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB/Stable ISSUER NOT
                                    COOPERATING')

CRISIL has been consistently following up with SSSC for obtaining
information through letters and emails dated January 14, 2020 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 SSSC, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SSSC is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of SSSC
Revised to 'CRISIL B/Stable Issuer Not Cooperating' from 'CRISIL
BB/Stable Issuer Not Cooperating'.

SSSC is a proprietorship concern set up in 1991, by Mr. Suresh
Bajoria. The firm trades in thermo-mechanically treated (TMT) bars,
ingots, fillets, and sponge iron. The firm operates from Nagpur,
Maharashtra.

RSWI was set up in 1987, as a partnership firm, between Mr. Rajesh
Bajoria and Mr. Suresh Bajoria. The partnership was later
transferred to Mr. Rajesh Bajoria and his wife, Ms Jyoti Bajoria.
The firm trades in mild steel products, mainly TMTs. The firm has
recently started trading of e- rickshaws.


SINGH CYCLE: CRISIL Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------
CRISIL said the ratings on bank facilities of Singh Cycle & Motor
Co. (SCMC) continue to be 'CRISIL D Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           3.75       CRISIL D (ISSUER NOT
                                    COOPERATING)

   Inventory Funding     4.25       CRISIL D (ISSUER NOT
   Facility                         COOPERATING)

   Term Loan             3.50       CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with SCMC for obtaining
information through letters and emails dated January 14, 2020 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 SCMC, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SCMC is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of SCMC
continues to be 'CRISIL D Issuer Not Cooperating'.

Incorporated in 1955, Singh Cycle and Motor Co (SCMC) is promoted
by Mr. Palvinder singh Bedi based in Pune. The firm is having
automobile dealership of Chevrolet range of vehicles and Hero
Motorcorp Ltd. (HML) for two wheelers.The firm has two showroom of
HML, and two of Chevrolet and specialized work shop across Pune.


SUN ARK: CRISIL Keeps D on INR12cr Loans in Not Cooperating
-----------------------------------------------------------
CRISIL said the ratings on bank facilities of Sun Ark Aluminium
Industries Private Limited (SAIPL) continue to be 'CRISIL D/CRISIL
D Issuer not cooperating'.

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

   Letter of Credit       9         CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with SAIPL for obtaining
information through letters and emails dated January 14, 2020 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 SAIPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SAIPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of SAIPL
continues to be 'CRISIL D/CRISIL D Issuer not cooperating'.

Established in 2007, Sun Ark Aluminium Industries Private Limited
(SAIPL) manufactures aluminium powder, which find its application
in manufacturing refractory moulds and explosives. The operations
are currently being managed by Mr. Sivakumar.


TAMILNADU STATE: CRISIL Lowers Rating on INR13cr Cash Loan to B
---------------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Tamilnadu
State Transport Corporation (Madurai) Limited (TNSTC) to 'CRISIL
B/Stable Issuer Not Cooperating' from 'CRISIL BB-/Stable Issuer Not
Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            13        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB-/Stable ISSUER NOT
                                    COOPERATING')

CRISIL has been consistently following up with TNSTC for obtaining
information through letters and emails dated January 14, 2020 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 TNSTC, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on TNSTC is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of TNSTC
Revised to 'CRISIL B/Stable Issuer Not Cooperating' from 'CRISIL
BB-/Stable Issuer Not Cooperating'.

TNSTC (MDU) is a Government of Tamil Nadu enterprise that provides
intercity bus transport facilities. The company operates in Madurai
district of Tamil Nadu.


VARSHA SUPER: CRISIL Keeps B+ Debt Ratings in Not Cooperating
-------------------------------------------------------------
CRISIL said the rating on bank facilities of Varsha Super Stockist
India Private Limited (VSS) continues to be 'CRISIL B+/Stable
Issuer Not Cooperating'.

CRISIL has withdrawn its rating on INR5.5 Crore cash credit
facility of VSS on the request of the company and receipt of a no
objection certificate from its bank. The rating action is in line
with CRISIL's policy on withdrawal of its ratings on bank loans.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            9         CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)     

   Cash Credit           14.5       CRISIL B+/Stable (Withdrawn)

CRISIL has been consistently following up with VSS for obtaining
information through letters and emails dated June 18, 2020 and June
25, 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 VSS. This restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on VSS is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the rating on bank facilities of VSS
continues to be 'CRISIL B+/Stable Issuer Not Cooperating'.

CRISIL has withdrawn its rating on INR5.5 Crore cash credit
facility of VSS on the request of the company and receipt of a no
objection certificate from its bank. The rating action is in line
with CRISIL's policy on withdrawal of its ratings on bank loans.

Varsha Enterprises, established in 1993 as a proprietorship firm,
was re-constituted as a private limited company 'VSS. The company
is the sole regional distributor for Samsung mobile phones in
Trivandrum and also the sole regional distributor for Samsung home
appliances for Trivandrum and Kollam districts. It is also a
distributor of V- Guard Industries and Hercules Cycles. Based in
Trivandrum, the company is promoted by Mr. T.G. Thampy and his wife
Ms. Resmi Mol Thampy.




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

RESIMAC VERSAILLES 2020-1: S&P Assigns Prelim. BB Rating on E Notes
-------------------------------------------------------------------
S&P Global Ratings assigned preliminary ratings to six classes of
prime and nonconforming residential mortgage-backed securities
(RMBS) to be issued by New Zealand Guardian Trust Co. Ltd. as
trustee of RESIMAC Versailles Trust - RESIMAC Versailles Trust
Series 2020-1.

The preliminary ratings reflect:

-- S&P's view of the credit risk of the underlying collateral
portfolio, including the fact that this is a closed portfolio,
which means no further loans will be assigned to the trust after
the closing date.

-- S&P's view that the credit support is sufficient to withstand
the stresses it applies. This credit support comprises note
subordination, and excess spread (if any).

-- S&P's expectation that the various mechanisms to support
liquidity within the transaction, including an amortizing liquidity
facility equal to 0.75% of the initial aggregate amount of the
notes, principal draws and an excess spread reserve are sufficient
under our stress assumptions to ensure timely payment of interest
on the rated notes.

-- The extraordinary expense reserve of NZ$150,000, funded at
transaction close and available to meet extraordinary expenses. The
reserve will be topped up via excess spread if drawn.

-- The benefit of a fixed- to floating-rate interest-rate swap to
be provided by Westpac Banking Corp. and Bank of New Zealand to
hedge the mismatch between receipts from fixed-rate mortgage loans
and the variable-rate RMBS.

-- That loss of income for borrowers in the coming months due to
the effects of COVID-19 might put upward pressure on mortgage
arrears over the longer term. S&P said, "We recently updated our
outlook assumptions for New Zealand RMBS in response to changing
macroeconomic conditions as a result of the COVID-19 outbreak. The
collateral pool as of the Aug. 10, 2020, cut-off date did not
include any loans that were under a COVID-19 hardship payment
arrangement. Nevertheless, we undertook additional cash-flow
sensitivity analysis to assess the rated notes' sensitivity to
delays in borrower payments should some loans enter hardship
arrangements following the cut-off date."

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 said, "We are using this assumption in
assessing the economic and credit implications associated with the
pandemic. As the situation evolves, we will update our assumptions
and estimates accordingly."

  PRELIMINARY RATINGS ASSIGNED

  RESIMAC Versailles Trust - RESIMAC Versailles Trust
  Series 2020-1

  Class      Rating          Amount
                           (mil. NZ$)
  A1         AAA (sf)       175.000
  A2         AAA (sf)        53.250
  B          AA (sf)          6.500
  C          A (sf)           5.625
  D          BBB (sf)         4.000
  E          BB (sf)          2.375
  F          NR               3.250

  NR--Not rated.




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

ABS-CBN CORP: Shuts Down Experience and Retail Businesses
---------------------------------------------------------
James A. Loyola at Manila Bulletin reports that ABS-CBN Corporation
announced that its experience and retail businesses are shutting
down their operations permanently by August 31.

These include the Studio Tours, ABS-CBN Store, Hado Pilipinas,
Heroes Burger, and ABS-CBN Studio Experience.

"These ventures are part of ABS-CBN's services to Filipino families
affected by the denial of its broadcasting franchise by the House
of Representatives last July 10," the firm said in a statement,
Manila Bulletin relays.

An in-demand service inside the ABS-CBN compound since 1997, Studio
Tours is permanently shutting down its operations that welcomed
local and foreign audiences and conducted educational tours inside
the network studios where visitors got to see behind-the-scenes
exclusives in the production of various programs, according to
Manila Bulletin.   

Manila Bulletin relates that the ABS-CBN Store, which offered a
huge assortment of program, celebrity and network merchandise,
including the widely popular Christmas SID Shirts, will also no
longer operate.

Manila Bulletin says the country's pioneer studio city located in
TriNoma, the ABS-CBN Studio Experience, closes down after two years
of housing physical attractions and digital innovations. The indoor
theme park allowed thousands of Filipino families to experience
various ABS-CBN shows.

The organic chargrilled burger joint Heroes Burger, which also
started in 2018, is also discontinuing its operations for good.
Another experience business of ABS-CBN, Hado Pilipinas, is also
officially ending its journey just a year after it was launched,
the report adds. The techno sport was included as a breakthrough
tournament in NCAA's 95th season and its winners from College of
St. Benilde (CSB) AniGators team represented the country in the
2019 Hado World Cup in Tokyo, Japan.

                         About ABS-CBN Corp

ABS-CBN Corporation operates a network of TV & radio stations in
the Philippines. The Company produces entertainment and news
programs for basic and cable channels. The Company has interests in
film and music production and distribution as well as online and
mobile services and magazine publishing. Content is broadcasted
through TFC Channel via cable, sattelite and internet.

ABS-CBN Corp. stands to suffer millions of pesos in foregone
advertising revenues daily, impair its credit standing, and risks
defaulting on debts after it was forced to stop broadcasting with
the issuance of a cease-and-desist order (CDO) by the National
Telecommunications Commission (NTC), BusinessWorld Online said. CNN
Philippines said ABS-CBN will stay off the air as a House of
Representatives panel denied its application for a fresh 25-year
franchise on July 5, 2020.  With its continued shutdown, the
network had said it may start laying off some of its 11,000 workers
by August, CNN Philippines related.




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

KRISENERGY LTD: Keppel Prepared to Support Final Restructuring
--------------------------------------------------------------
Natalie Choy at The Business Times reports that Keppel Corporation,
which owns a 40 per cent stake in upstream oil and gas company
KrisEnergy, on Aug. 30 said it is prepared to support the final
restructuring proposal of the debt-hit firm.

In a bourse filing, Keppel Corp said it has evaluated KrisEnergy's
debt workout plan, which it believes is a "deliverable plan," BT
relays.

"But for KrisEnergy's restructuring to be successful, the company
would require the support of its stakeholders as the final
restructuring proposal is subject to receipt of inter-conditional
approvals across stakeholder groups," said Keppel Corp.  KrisEnergy
had earlier warned that it is likely to face liquidation without
comprehensive restructuring, BT says.

According to BT, Keppel Corp noted that - based on its financial
adviser's current analysis of KrisEnergy's assets and operations
and the final restructuring proposal - it does not expect a
consensual restructuring of KrisEnergy to have a material impact on
Keppel Corp's net tangible assets or earnings per share for the
current financial year. The group hopes to see a successful
conclusion to the financial restructuring of KrisEnergy in the next
few months.

On Aug. 21, KrisEnergy announced changes to its final restructuring
proposal - it largely involves a debt-to-equity swop - based on
feedback from stakeholders, BT discloses. In a nutshell, it
involved a higher allocation of equity to unsecured debt holders,
and reduced dilution for existing shareholders.

Post restructuring, the shareholding structure will see unsecured
creditors owning 46.2 per cent, while the zero coupon note holders
will hold 43.8 per cent. Existing shareholders will hold 10 per
cent, KrisEnergy notes.

BT adds that Keppel Corp said it has continued to support
KrisEnergy in respect of its financial difficulties, by providing
additional funding and helping to safeguard assets in order to
retain the possibility of a successful financial restructuring.

                       About KrisEnergy Limited

KrisEnergy Limited -- https://krisenergy.com/ -- is a
Singapore-based investment holding company. The Company is an
independent upstream oil and gas company with a portfolio of
exploration, appraisal, development and production assets focused
on the geological basins in Asia. The Company operates through
exploration and production of oil and gas in Asia segment. The
Company holds interests in approximately 20 licenses in Bangladesh,
Cambodia, Indonesia, Thailand and Vietnam covering a gross acreage
of approximately 60,750 square kilometers.

In August 2019, the firm sought court protection from creditors'
legal action while it restructured its debts, according to The
Business Times.  Keppel Corporation, a creditor and shareholder of
KrisEnergy, then publicly came out to support the application and
KrisEnergy's management in formulating a restructuring plan.

Trading in its shares has been suspended pending the restructuring,
BT noted.

Total debts stood at around US$558.8 million as at June 30, 2019,
according to KrisEnergy's presentation slides for its Sept. 10,
2019, informal investor meeting for noteholders and shareholders.


KS ENERGY: High Court Grants OCBC's Bid to Place Firm Under IJM
---------------------------------------------------------------
The Business Times reports that it was heavily contested by the
beleaguered KS Energy but in the end, OCBC won, with the Singapore
High Court on Aug. 31 granting the lender's application to place
the oil services firm and a key operating subsidiary under interim
judicial management (IJM).

Towards this end, the court appointed Deloitte & Touche's Andrew
Grimmett -- agrimmett@deloitte.com -- and Lim Loo Khoon --
juslim@deloitte.com -- as the interim judicial managers, pending
the hearing on the JM application. A pre-trial conference has been
fixed for Sept. 10, BT discloses.

According to BT, OCBC had applied to place Singapore-listed KS
Energy and its unit KS Drilling under JM earlier this month after
it sent letters of demand to the firms as well as six other
subsidiaries for a US$230.7 million term loan and a SGD5 million
bridging loan to KS Drilling.

KS Drilling is an 80.09 per cent-owned subsidiary of KS Energy,
which has provided US$150 million in guarantee for the term loan.

BT relates that OCBC had said that it was "imperative" for IJMs to
be urgently appointed to act for both firms pending the JM hearing
as there were "serious doubts and concerns" regarding the firms'
current management on the back of the recent filing of criminal
charges against the firm's former chairman and chief executive Kris
Wiluan, according to court documents. The bank also cited "alarming
cash burn rates and losses" suffered by the companies in recent
years for its application.

BT says the Indonesian tycoon faces 112 charges of alleged false
trading and market rigging for share purchases made between 2014
and 2016. KS Energy has said that those were his personal share
purchases and were separate from the group's current financial
problems.

The court's decision is a setback for the troubled firm, which had
earlier wished to go down another route. It had proposed various
measures to allow the bank to fully monitor and supervise all its
business operations, the report notes. These measures would have
given OCBC all the transparency, control and protection without the
adverse effects on the pledged assets that a JM scheme brings, said
KS Energy in an announcement on Aug. 28.

KS Energy's group chairman and chief executive officer Richard
Wiluan pledged full commitment to working with OCBC to resolve the
bank's concerns in a manner that will maximise the interest of all
creditors and the company, BT says.

He noted that the group had been facing "unprecedented" challenges,
just like its peers, after the oil-price collapse and supply-chain
disruptions amid the Covid-19 pandemic, the report relays.

In the last two years, KS Energy has taken initiatives to improve
its financial position, "resulting in a 72 per cent reduction in
losses for the first six months ended June 30, 2020, as compared to
the previous corresponding period", Mr. Wiluan added.

He took the helm after his father, Kris Wiluan, stepped down in
mid-August as group chairman and chief executive, the report
notes.

Trading in the shares of mainboard-listed KS Energy has been
suspended since Aug. 12.

Sarjit Singh Gill SC and Daniel Tan from Shook Lin & Bok are lead
counsel for OCBC, the report discloses.

Headquartered in Singapore, KS Energy Limited operates as an energy
services provider primarily to the oil and gas, marine, and
petrochemical industries in Kurdistan, Egypt, Pakistan, Vietnam,
Indonesia, Malaysia, and internationally. KS Energy Limited is a
subsidiary of Pacific One Energy Limited.


UTAC HOLDINGS: S&P Withdraws 'B-' LongTerm Issuer Credit Rating
---------------------------------------------------------------
S&P Global Ratings that it has withdrawn its 'B-' long-term issuer
credit rating on UTAC Holdings Ltd. at the company's request. UTAC
redeemed its US$665 million bonds due 2023 on Aug. 11, 2020. UTAC
is an outsourced semiconductor assembly and test services provider
with headquarters in Singapore.




===============
T H A I L A N D
===============

[*] THAILAND: Seven Thai Airlines Seek US$770MM in State Support
----------------------------------------------------------------
Reuters reports that seven Thai airlines are seeking a combined
THB24 billion (US$770 million) in low interest loans and other
support measures, the government said on Aug. 28, joining carriers
across the world in requesting state help to weather the
coronavirus crisis.

Airline executives made the request to Prime Minister Prayuth
Chan-ocha, aiming to maintain liquidity and avoid layoffs, the
government said in a statement, Reuters relays.

"The government will consider the requests from the airlines and
find ways to support operations, including unlocking air travel,
and boost domestic tourism," Reuters quotes Prayuth as saying.

The airlines, mostly low-cost carriers, are Thai AirAsia, Thai
AirAsia X, Thai Smile, Thai Lion Air, Thai Viet, Nok Airlines and
boutique carrier Bangkok Airways Pcl, Reuters discloses.

NokScoot entered liquidation in June, months after the carriers
previously sought similar terms in April.

According to Reuters, commercial air travel has all but stopped as
the coronavirus continues to spread and Southeast Asia's
second-largest economy contracted over 12% in the April-June
period, hit by a decline in its tourism sector.

Thailand, which had a record 39.8 million tourist arrivals last
year, has recorded no foreign visitors since April when it imposed
a travel ban, Reuters notes.

Reuters says the government this month scrapped plans for a "travel
bubble" agreement with select countries as the number of infections
rose in Asia.

National carrier Thai Airways International Pcl has been under
bankruptcy protection since May and a court will decide in
September if the company can go ahead with restructuring proposals,
Reuters notes.

Its budget arm Nok Airlines in July received bankruptcy
protection.

The airlines also urged the government to extend a tax deduction
for jet fuel and reduce landing and parking fees at airports, adds
Reuters.




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

BOND PRICING: For the Week Aug. 24 to Aug. 28, 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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