/raid1/www/Hosts/bankrupt/TCRAP_Public/201013.mbx        T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

          Tuesday, October 13, 2020, Vol. 23, No. 205

                           Headlines



A U S T R A L I A

FROSTERMAN PTY: First Creditors' Meeting Set for Oct. 20
GENERA BIOSYSTEMS: Second Creditors' Meeting Set for Oct. 21
MILESTONE ALUMINIUM: First Creditors' Meeting Set for Oct. 20
SWEET INDIA: Second Creditors' Meeting Set for Oct. 20
T.M. LEWIN: Second Creditors' Meeting Set for Oct. 19

[*] AUSTRALIA: Up to 25% of SMEs at Risk of Insolvency, RBA Says


C H I N A

FOSUN INTERNATIONAL: S&P Rates Proposed U.S. Dollar Notes 'BB'
JIANGSU ZHONGNAN: S&P Upgrades ICR to 'B+', Outlook Stable
SINIC HOLDINGS: Fitch Assigns B+ Rating to New USD Sr. Notes


I N D I A

AGARWAL CHEM: ICRA Keeps B Debt Ratings in Not Cooperating
AMRAPALI SMART: CARE Keeps D Debt Rating in Not Cooperating
APEX CONSTRUCTIONS: ICRA Keeps B+ Debt Rating in Not Cooperating
BATTULAL RADHEY: CARE Keeps C Debt Rating in Not Cooperating
C.P ISPAT: CARE Keeps D Debt Rating in Not Cooperating Category

C.P SPONGE: CARE Keeps D Debt Rating in Not Cooperating Category
EXOTIC GRANITE: ICRA Keeps B Debt Ratings in Not Cooperating
FUTURE ENTERPRISES: CARE Lowers Rating on INR327cr NCD to D
HOUSING DEVELOPMENT: CBI Files Fresh Case Against Wadhawans
KANDAGIRI SPINNING: CARE Keeps D Debt Ratings in Not Cooperating

KISHAN GUM: ICRA Keeps B Debt Ratings in Not Cooperating Category
KKB PROJECTS: ICRA Lowers Rating on INR13cr LT Loan to B+
KRISHNA GEMS: ICRA Lowers Rating on INR7.20cr Loan to B+
LOTUS OVERSEAS: ICRA Keeps B+ Debt Ratings in Not Cooperating
MINI DIAMONDS: ICRA Withdraws D Ratings on INR9.0cr Loans

MINOX METAL: ICRA Lowers Rating on INR45.50cr LT Loan to B+
NANDAGUDI OILS: CARE Lowers Rating on INR10cr LT Loan to C
RAMESHWAR COTTEX: ICRA Keeps D Debt Ratings in Not Cooperating
RELIANCE NAVAL: NCLAT Directs Excluding Lockdown Phase in CIRP
ROYALICA TILES: ICRA Keeps B/A4 Debt Rating in Not Cooperating

SHAH TILES: ICRA Keeps B+ Debt Ratings in Not Cooperating
SHIV SHAKTI: ICRA Keeps B+ Debt Ratings in Not Cooperating
SURYA OIL: ICRA Keeps B+ Debt Ratings in Not Cooperating Category
TEZALPATTY TEA: CARE Keeps D Debt Rating in Not Cooperating
ULTRA HOME: CARE Keeps D Debt Ratings in Not Cooperating Category

UNIWORLD SUGARS: CARE Keeps D Debt Rating in Not Cooperating
URVESH PSYLLIUM: ICRA Cuts Rating on INR11.40cr LT Loan to B+
VAIJANATH INDUSTRIES: CARE Keeps D Debt Ratings in Not Cooperating
VANSHIKA SUGAR: ICRA Keeps B+ Debt Ratings in Not Cooperating
VIJAY STONE: ICRA Keeps B+ Debt Ratings in Not Cooperating



I N D O N E S I A

INDIKA ENERGY: Fitch Assigns BB- Rating to Proposed USD Notes


N E P A L

RAM SUGAR: Cane Farmers Demand Payment of Outstanding Dues


P H I L I P P I N E S

MALASIQUI PROGRESSIVE: Insurance Claims Deadline Set for Oct. 16


S I N G A P O R E

HYFLUX: Asks Utico to Address Concerns Raised by Creditor Groups
SUNMOON FOOD: Shares Slump Amid Parent's Bankruptcy Woes


X X X X X X X X

[*] BOND PRICING: For the Week Oct. 5, 2020 to Oct. 9, 2020

                           - - - - -


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

FROSTERMAN PTY: First Creditors' Meeting Set for Oct. 20
--------------------------------------------------------
A first meeting of the creditors in the proceedings of Frosterman
Pty Ltd, trading as Frostpine, will be held on Oct. 20, 2020, at
11:00 a.m. at the offices of Condon Associates, Level 6, 87 Marsden
Street, in Parramatta, NSW.

Schon Gregory Condon of Condon Associates was appointed as
administrator of Frosterman Pty on Oct. 8, 2020.

GENERA BIOSYSTEMS: Second Creditors' Meeting Set for Oct. 21
------------------------------------------------------------
A second meeting of creditors in the proceedings of Genera
Biosystems Limited has been set for Oct. 21, 2020, at 2:00 p.m. at
Level 1, 255 Mary Street, in Richmond, Victoria.

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 Oct. 20, 2020, at 4:00 p.m.

Stephen Dixon and Richard Rohrt of Hamilton Murphy were appointed
as administrators of Genera Biosystems on May 21, 2020.

MILESTONE ALUMINIUM: First Creditors' Meeting Set for Oct. 20
-------------------------------------------------------------
A first meeting of the creditors in the proceedings of Milestone
Aluminium and Glass Pty Ltd will be held on Oct. 20, 2020, at 10:00
a.m. via virtual meeting.

Bruce Gleeson and Daniel Robert Soire of Jones Partners were
appointed as administrators of Milestone Aluminium on Oct. 8,
2020.


SWEET INDIA: Second Creditors' Meeting Set for Oct. 20
------------------------------------------------------
A second meeting of creditors in the proceedings of Sweet India Pty
Ltd has been set for Oct. 20, 2020, at 10:30 a.m. via electronic
means.

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 Oct. 19, 2020, at 5:00 p.m.

Peter Goodin of Magnetic Insolvency was appointed as administrator
of Sweet India on Sept. 15, 2020.


T.M. LEWIN: Second Creditors' Meeting Set for Oct. 19
-----------------------------------------------------
A second meeting of creditors in the proceedings of T.M. Lewin
Australia Pty Ltd has been set for Oct. 19, 2020, at 3:00 p.m. via
teleconference.

The purpose of the meeting is (1) to receive the report by the
Administrator about the business, property, affairs and financial
circumstances of the Company; and (2) for the creditors of the
Company to resolve whether the Company will execute a deed of
company arrangement, the administration should end, or the Company
be wound up.

Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by Oct. 16, 2020, at 12:00 p.m.

Stewart McCallum, Adam Nikitins and Colby O'Brien of Ernst & Young
were appointed as administrators of T.M. Lewin on July 1, 2020.


[*] AUSTRALIA: Up to 25% of SMEs at Risk of Insolvency, RBA Says
----------------------------------------------------------------
Stephanie Palmer-Derrien at SmartCompany reports that Treasurer
Josh Frydenberg has admitted that some businesses will not survive
the COVID-19 pandemic.

However, while Mr. Frydenberg couldn't put a figure on just how
many would fail, the Reserve Bank of Australia (RBA) has said small
businesses will be disproportionately affected, with up to 25% at
risk of insolvency, SmartCompany relates.

Small businesses in hard-hit sectors are in a particularly
precarious position, the RBA suggested in its Financial Stability
Review for October 2020, SmartCompany says.

In fact, between 10% and 15% of SMEs in the worst-affected
industries still don't have enough cash on hand to meet their
monthly expenses, even with government support measures in place.

But, when asked on ABC's Insiders on Oct. 11 whether the JobKeeper
wage subsidy scheme would be continued beyond March next year, Mr.
Frydenberg dismissed the idea, according to SmartCompany.

"It's only legislated until the end of March, and that is the
plan," the report quotes Mr. Frydenberg as saying.  "It was always
temporary and it was always targeted."

Rather, he said the government is focusing on the ‘next phase' of
the creating jobs, even if that means a spate of small business
failures, the report relays.

Currently, there are about 900,000 businesses making use of the
JobKeeper program, SmartCompany notes.

When asked how many of those businesses would not survive without
it, come March, Mr. Frydenberg said these are not numbers he was
keeping an eye on.

"Treasury doesn't actually calculate the number of businesses that
will be created or the number of businesses that will close," he
said.

"You can't see any one program in isolation," he added.

"Some business will not survive and obviously some jobs will be
lost.

"There will be businesses that will fold, there is no doubt about
that, and we can't save every business and we can't save every
job."

SmartCompany relates that the Treasurer said the government is
"focused on is giving every business and every job the best
possible chance of getting to the other side".

However, he went on to suggest there will be "a restructure" in the
Australian economy.

The JobKeeper program has some "adverse incentives", which could
become more pronounced as the COVID-19 recovery goes on, he
suggested.

"Namely, it prevents the reallocation of workers to more productive
roles across the economy," he said.

According to SmartCompany, Mr. Frydenberg may not have the numbers,
but the Reserve Bank of Australia has predicted a wave of business
insolvencies to come, suggesting up to 25% of small businesses
would fail if subsidies were removed today, before the improvement
of trading conditions.

In the Financial Stability Review, the RBA acknowledged that we
can't predict the future. But, ultimately, it said there will be an
uptick in insolvencies, SmartCompany relates.

"Business failures will increase, although there is a high degree
of uncertainty about the magnitude and timing," it said.

"It will depend on the strength of the economic recovery, which
will be influenced by the duration and severity of future
COVID-19-related disruptions, and the timing and extent of the
unwinding of the various support measures.

"Bankruptcies and insolvencies are currently very low because of
the income support, loan repayment deferrals and temporary
insolvency relief," it added.

And, small businesses are set to be disproportionately affected,
the report relays.



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FOSUN INTERNATIONAL: S&P Rates Proposed U.S. Dollar Notes 'BB'
--------------------------------------------------------------
S&P Global Ratings assigned its 'BB' long-term issue rating to the
proposed U.S. dollar-denominated senior unsecured notes that
China-based Fosun International Ltd. will unconditionally and
irrevocably guarantee. Fortune Star (BVI) Ltd., a special purpose
entity, will issue the notes. The rating is subject to our review
of the final issuance documentation.

The rating on the notes is the same as the issuer credit rating on
Fosun (BB/Negative/--) because of credit substitution under the
guarantee. As an investment holding company, Fosun's secured debt
at the parent level is less than 50% of the total debt at the
parent level. Hence, it does not breach our 50% notching-down
threshold for structural subordination risk.

Fosun will use the proceeds from the proposed notes for
refinancing, working capital, and other general corporate
purposes.

S&P said, "The negative outlook reflects our expectation that
Fosun's debt maturity profile will remain short in the next 12
months as the company seeks to push out its maturity schedule by
accessing longer-term debt capital. We may lower the ratings if
Fosun fails to lengthen its weighted average maturity from the
current 1.5 years or if the company's cash sources over cash uses
decline below 1.2x. We could also lower the ratings if Fosun's
loan-to-value ratio exceeds 45% because of an increase in the
company's risk appetite (as indicated by acquisitions outpacing
disposals) or a significant decline in the value of its listed
assets."


JIANGSU ZHONGNAN: S&P Upgrades ICR to 'B+', Outlook Stable
----------------------------------------------------------
On Oct. 9, 2020, S&P Global Ratings raised its long-term issuer
credit rating on Jiangsu Zhongnan Construction Group Co. Ltd.'s
(Zhongnan) to 'B+' from 'B', and its long-term issue rating on the
company's outstanding senior unsecured notes to 'B' from 'B-'.

The stable outlook reflects S&P's view that Zhongnan will continue
to expand while controlling its leverage through stable revenue
growth and profitability.

S&P said, "We raised the ratings because we believe Zhongnan's
robust contracted sales growth, with a focus on the Yangtze River
Delta (YRD), will enable it to further substantially improve its
financial leverage over the next 12-24 months. We also expect the
company to be committed to controlling land spending and debt
expansion, partly due to tightening funding conditions for China's
developers.

"Despite good execution and growth, Zhongnan continues to be very
geographically concentrated. We do not believe the company can
penetrate into other regions or higher tier cities in the next
several years. Around 50% of Zhongnan's total land reserve by gross
floor area (GFA) as of June 2020 is from the YRD region, which
contributes to more than 60% of the company's total land investment
since 2019. In addition, the company's EBITDA margin is
historically one of the lowest among its peers', and we don't
expect material improvement over the next two years. These factors,
in our view, are the key rating constraints for the company.

"We expect Zhongnan's EBITDA margin to remain relatively low at
18%-19% in 2020-2021 for two reasons. First, more than 40% of the
company's land spending since 2018 is in leading tier-two cities,
with the rest mostly in upper tier-three cities in YRD, which
resulted in much higher land costs than previous years. At the same
time, most of these cities (such as Nantong, Ningbo, Xi'an, and
Suzhou) are subject to government-imposed property price caps.
Second, the company's exposure to the construction business will
continue to be a drag on the company's EBITDA margin. The
construction business has a gross profit margin of around 10% and
makes up around 30% of the company's total revenue.

"We believe that Zhongnan is proactively deleveraging in
anticipation of further tightening of funding conditions. We
forecast Zhongnan to spend 35%-40% of total contracted sales in
land replenishment in the next 12-24 months, around the same level
compared with 2019, much lower than 47% and 65% in 2018 and 2017,
respectively. This level supports a gradual deleveraging of the
company. In 2019, the company deleveraged faster than we expected,
with consolidated the debt-to-EBITDA ratio having improved to 6.0x
versus our previous expectation of 6.6x. We expect it to further
improve to 5.5x-6.0x in 2020.

"We believe Zhongnan's overall "see-through" leverage will be even
lower if we incorporate the company's off-balance sheet joint
ventures, which make up 40%-50% of its sales. These projects tend
to have higher EBITDA margins because of land cost savings with
partnerships in land bidding. Some of the partners are local
developers that require Zhongnan, as the more creditworthy partner,
to provide third-party guarantees. As of interim 2020, such
guarantees amounted to Chinese renminbi (RMB) 12.7 billion and were
factored into our adjusted debt.

"We estimate the company's 2019 see-through debt-to-EBITDA ratio to
be around 5.6x. We anticipate the see-through ratio to be 5.0x-5.5x
in 2020, lower than that on a consolidated basis of 5.5x-6.0x, and
better than most peers'." Its lower see-through and consolidated
leverage versus peers' is captured in a one-notch uplift in the
comparable ratings analysis modifier.

Zhongnan has strong market knowledge and expertise in the YRD
region, which is more resilient to market demand post the pandemic.
It also has proven execution capability in tier-three cities like
Nantong and Ningbo. These support its 10%-15% year-on-year
contracted sales growth in 2020, compared with a robust 43%
compounded growth in the past three years.

S&P therefore expects revenue growth to maintain at around 30% in
2020, and to slow to 15%-20% in 2021. Zhongnan's business
operations will likely recover from the slowdown in construction
and operations in the first half of 2020, given that most of the
RMB350 billion of saleable resource will be launched in the second
half of the year. During the first eight months of 2020, Zhongnan's
total contracted sales grew by about 8% to RMB119 billion amid the
pandemic, with a cash collection ratio of about 85%.

The company has sought to improve its operating scale and gradually
its geographic diversification, with 418 projects across 109 cities
nationwide as of June 2020. The improving scale contributes to
Zhongnan's position as one of the country's top-20 developers. S&P
believes Zhongnan's scale is now comparable with peers such as
Jinke Property Group Co. Ltd. and Ronshine China Holdings Ltd.

S&P said, "In our view, Zhongnan will maintain a relatively
balanced capital structure. The company reduced its nonbank
financing exposure to 23% of its total reported debt as of June 30,
2020, from 30% as of June 30, 2019, mainly through repaying higher
cost trust financing and increasing onshore direct financing. Its
weighted-average debt maturity also improved to 2.6 years as of
June 30, 2020, compared with 2.3 years a year ago.

"The stable outlook reflects our expectation that Zhongnan will
achieve solid revenue recognition and control leverage, while
stabilizing its margin over the next 12-24 months. We also expect
Zhongnan to continue engaging in off-balance sheet projects for
growth. As a result, the company's see-through leverage should
continue to be lower than its consolidated level as it continues to
provide substantial amount of guarantees.

"We could lower the rating if Zhongnan's debt-funded expansion is
more aggressive than we expect or its profitability deteriorates.
This can happen if the company's land spending is higher than we
expected, or rising competition in the property market further
compresses its margins, such that its debt-to-EBITDA ratio, either
on a consolidated or see-through basis, worsens below 6.5x.

"We could raise the rating if Zhongnan demonstrates further
financial discipline. An indication of such improvement would be
its debt-to-EBTIDA ratios, on a consolidated and see-through basis,
improving to below 5x.

"In a more remote case, we could also raise the rating if the
company significantly improves its market position and geographic
diversification, while sustaining satisfactory profitability."


SINIC HOLDINGS: Fitch Assigns B+ Rating to New USD Sr. Notes
------------------------------------------------------------
Fitch Ratings has assigned China-based homebuilder Sinic Holdings
(Group) Company Limited's (B+/Stable) proposed 364-day US dollar
senior notes a 'B+' rating, with a Recovery Rating of 'RR4'.

The proposed notes are rated at the same level as Sinic's senior
unsecured rating because they constitute its direct and senior
unsecured obligations. Sinic intends to use the net proceeds from
the issue to primarily refinance its existing debt and for general
working capital.

Sinic's rating is supported by its diverse land bank, healthy
contracted sales growth, fast sales churn and good margin. Sinic's
leverage - defined by net debt (including guarantees to joint
ventures (JV) and associates)/adjusted inventory - of below 55% at
end-1H20 is on the higher end of 'B+' rated peers, which makes it a
rating constraint. This is mitigated by its quality land bank that
is sufficient for development over the next three-to-four years.
This allows flexibility in land acquisition in the next 24 months.
Fitch believes it's fast-churn model will help leverage stay below
55% in the forecast period to 2023. At the same time, Sinic has a
short operating history and a limited record in a downcycle.

KEY RATING DRIVERS

Strong Position in Jiangxi: Sinic has strong brand recognition in
Jiangxi province and its capital, Nanchang, and was the province's
top-selling developer from 2017 to 2019. It was also among the
top-five developers in Guangdong province's Huizhou by contracted
sales in 2019. Sinic has been diversifying outside of its home
market in Jiangxi and has strengthened its presence in the Greater
Bay Area, the Yangtze River Delta and central-western China.

It had 138 projects in 37 cities in four regions across China by
end-1H20. Sinic's attributable contracted sales rose by 7% yoy in
1H20, mainly driven by an average selling price (ASP) of CNY14,264
per sq m.

High Leverage: Sinic had CNY10.8 billion in net debt on its
consolidated balance sheet and also provided CNY8.3 billion in
guarantees for its JVs and associates as of end-1H20. The
attributable aggregated leverage at the JVs is higher than that of
its consolidated accounts. Fitch has included the guarantees to JVs
in calculating Sinic's leverage of below 55% at end-1H20. (If Fitch
was to exclude the guarantees, Sinic's leverage would have been
around 30% at end-1H20, lower than that of many B+ peers). Fitch
expects its leverage to stay below 55% in the forecast period, as
the company plans to spend no more than 50% of its sales proceeds
on land acquisition and provide fewer debt guarantees to its JVs.

Significant Minority Shareholders: Total non-controlling interest
in Sinic's balance sheet increased to CNY7.7 billion in 1H20, from
CNY0.8 billion in 2018, as minority shareholders injected capital
into Sinic's projects. Non-controlling interest accounted for 47.6%
of total equity at end-1H20, which is relatively high among peers.
This reduces Sinic's financial flexibility compared with
homebuilders with lower non-controlling interest, which can
potentially dispose of stakes in projects to reduce leverage.

Short Operating History: Sinic only acquired its first piece of
land in 2010 and started to expand nationally from its home market,
Nanchang, in 2016, when the Chinese property sector was in an
upcycle. Its ability to weather a downturn is still untested. Its
recent effort to expand outside of its home market in Jiangxi is
also subject to execution risk. The company has operations in 21
cities with only one project each, which may lead to higher
operating costs.

Adequate Land Bank: Sinic's attributable unsold land reserves of
10.4 million sq m at end-1H20 are sufficient for development over
the next three-to-four years. This means the company is not under
immediate pressure to replenish its land bank to sustain contracted
sales growth, which gives it more room to lower its leverage and
control its land cost. Fitch believes cautious land acquisition
will help its EBITDA margin stay above 28% in 2020 and above 24% in
the forecast period.

Improved Access to Funding: Sinic's cost of funding has been
relatively high at more than 9%, but Fitch expects this to fall as
more expensive trust loans are replaced with lower-cost financing.
Its IPO in November 2019 also improved its access to funding. The
proportion of bank borrowings increased over the past three years
and bank loans made up 57% of its debt as of end-2019. The company
continues to replace costly onshore trust and asset-management
company loans with onshore and offshore funding including bonds,
asset-backed securities and syndicated loans.

DERIVATION SUMMARY

Sinic's business profile is supported by its leading market
position in Jiangxi, healthy margins, and operating scale. Its
attributable contracted sales scale of CNY45 billion in 2019 is
larger than that of Fantasia Holdings Group Co., Limited
(B+/Stable) and Hopson Development Holdings Limited (B+/Stable).
Sinic's contracted sales scale is 15% larger than that of Hong Kong
JunFa Property Company Limited (B+/Stable). Sinic's better
land-bank quality is evident from its higher ASP in 4M20. Sinic's
land bank is also more widely spread across China compared with
Junfa's land bank, which is highly concentrated in Kunming. Sinic
has a higher churn rate in terms of contracted sales to total debt
but a lower EBITDA margin. Junfa has much stronger recurring income
interest coverage and lower leverage.

Sinic's ratings are mainly constrained by its financial profile.
The company's CNY8.3 billion in guarantees to its JVs and
associates accounted for 23% of total debt on its consolidated
balance sheet. Its leverage, including guarantees to JVs and
associates, of below 55% at end-1H20 is higher than that of most of
its 'B+' rated peers, which have leverage below 50%.

KEY ASSUMPTIONS

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

  - Land-bank life will stay above three years in 2020-2023

  - Gross floor area (GFA) acquired is 0.9x-1.0x of its GFA sold in
2020-2023

  - ASP to rise 20% in 2020 and 2% per year in 2021-2023

  - Development-property cost of goods sold kept at 71% of sales in
2020-2023

  - Selling, general and administrative expenses at 4.3% of
contracted sales in 2020-2023

  - Dividend payout ratio of 25% in 2020-2023

Recovery Assumptions:

  - 25% haircut to net inventory and JV proportionately
consolidated adjusted inventory in light of Sinic's EBITDA margin
of around 25%-30%

  - 70% haircut to investment properties

  - 30% haircut to account receivables

  - 60% standard haircut to net property, plant and equipment

  - No haircut on restricted cash

RATING SENSITIVITIES

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

  - Leverage (net debt/adjusted inventory) sustained below 45%

  - EBITDA margin, after adding back capitalised interest in cost
of goods sold, above 25% for a sustained period

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

  - Leverage (net debt/adjusted inventory) above 55% for a
sustained period

  - EBITDA margin, after adding back capitalised interest in cost
of goods sold, below 20% for a sustained period

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity: Sinic's short-term debt amounted to CNY12.7
billion, or 44% of its total debt, as of end-1H20. Available cash
to short-term debt was 1.0x. Its total cash of CNY17.7 billion,
after taking into account restricted cash, was enough to cover its
short-term debt by a multiple of 1.4x. Sinic's debt maturities are
concentrated in 2020-2022 with 44% of its debt maturing in 2021 and
12% after 2022.

The company is committed to improving its debt-maturity profile and
capital structure through broadening its financing channels to
support its long-term growth sustainably. Sinic's IPO in 2019
reduces its reliance on debt financing. It plans to lengthen its
debt-maturity profile through various funding options, such as both
onshore and offshore issuance, and refinancing trust loans with
bank syndicated loans.

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).



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AGARWAL CHEM: ICRA Keeps B Debt Ratings in Not Cooperating
----------------------------------------------------------
ICRA said the ratings for the INR15.00 crore bank facilities of
Agarwal Chem Products (India) Pvt. Ltd. continues to remain under
the 'Issuer Not Cooperating' category. The rating is denoted as
"[ICRA]B (Stable); ISSUER NOT COOPERATING".

                      Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Fund-based–          7.50       [ICRA]B (Stable); ISSUER NOT
   Cash Credit                     COOPERATING; Rating continues
                                   to remain under 'Issuer Not
                                   Cooperating' category

   Fund-based–          7.50       [ICRA]B (Stable); ISSUER NOT
   Unallocated                     COOPERATING; Rating continues
                                   to remain under 'Issuer Not
                                   Cooperating' category

ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best available/dated/
limited information on the issuers' performance. Accordingly, the
lenders, investors and other market participants are advised to
exercise appropriate caution while using this rating as the rating
may not adequately reflect the credit risk profile of the entity.
The rating action has been taken in accordance with ICRA's policy
in respect of non-cooperation by a rated entity available at
www.icra.in.

ACPL was incorporated in 2001 by Mr. Mohan Lal Agrawal, who is the
managing director. The promoter has an experience of more than 35
years in the industry- ranging from the manufacturing of pesticides
and chemical intermediaries to the trading of inorganic and
speciality chemicals. The company procures the chemicals from
national and international certified vendors, which are sold to
customers for use in textiles, dying and printing, detergents,
paints, varnishes, pharmaceuticals, fertilisers, paper and
petrochemicals.

In FY2018, the company reported a net profit of INR0.4 crore on an
operating income of INR149.8 crore, as compared to a net profit of
INR0.4 crore on an operating income of INR 136.6 crore in the
previous year.

AMRAPALI SMART: CARE Keeps D Debt Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Amrapali
Smart City Developers Private Limited (ASCDPL) continues to remain
in the 'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      270.00      CARE D; Issuer not cooperating;
   Facilities                      Based on best available
                                   information

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated March 13, 2018, placed the
rating of ASCDPL under the 'issuer non-cooperating' category as
ASCDPL had failed to provide information for monitoring of the
rating. ASCDPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated August
4, 2020; September 7, 2020 and September 14, 2020. In line with the
extant SEBI guidelines, CARE has reviewed the rating on the basis
of the best available information which however, in CARE's opinion
is not sufficient to arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

Detailed description of the key rating drivers

At the time of last rating on August 26, 2019 the rating takes into
account the continuation in delays in servicing of debt by the
company.

Incorporated in 2010, Amrapali Smart City Developers Pvt Limited
(ASCDPL) is an SPV promoted by Amrapali group. ASCD is developing a
single group housing project in Greater Noida with total saleable
area of 116 lsf on total land area of 61 acres. ASCD has acquired
the land for the said project on lease from Greater Noida
Industrial Development Authority on deferred payment basis for
INR260cr. The company has launched the project in August 2010. In
2019, the Promoters of the company are sent behind the bars in an
alleged case of defrauding homebuyers.

APEX CONSTRUCTIONS: ICRA Keeps B+ Debt Rating in Not Cooperating
----------------------------------------------------------------
ICRA said the rating for the INR13.00 crore bank facilities of Apex
Constructions continues to remain under the 'Issuer Not
Cooperating' category. The rating is denoted as "[ICRA]B+
(Stable)/[ICRA]A4; ISSUER NOT COOPERATING".

                      Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Fund-based–          6.00       [ICRA]B+ (Stable); ISSUER NOT
   Cash Credit                     COOPERATING; Rating continues
                                   to remain under 'Issuer Not
                                   Cooperating' category

   Non Fund based       7.00       [ICRA]A4; ISSUER NOT
   Letter of                       COOPERATING; Rating continues
   Guarantee                       to remain under 'Issuer Not
                                   Cooperating' category

ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not adequately reflect the credit risk profile of
the entity. The rating action has been taken in accordance with
ICRA's policy in respect of non-cooperation by a rated entity
available at www.icra.in.

Apex Constructionss was established as a partnership firm in 1997.
There was reconstitution of partnership firm in April 2014 and it
is currently managed by Mr. Raman Patel, Mr. Rajesh Patel, Mr.
Nirav Patel along with other four partners. The firm is primarily
engaged in the execution of government tenders for civil
construction contracts of Roads. The company has "AA" category
registration having validity till December 31, 2018 with the
Government of Gujarat, enabling it to bid without any capping of
the contract value. The company has received the certificate during
July 2016. To mitigate the funding and bidding issues, AC executes
contracts as a subcontractor for Milan Associates (AA category
registration) and Anish Infracon (AA category registration) whereby
bidding is done, and order is bagged by the primary contractor. For
subcontract work, the entire project activity is carried out by AC
and in return it pays commission in the  range of 3-4% to the
aforementioned client. Earlier the partners of AC were associated
with Milan Associates and Anish Infracon (I) Pvt. Ltd. however
after reconstitution, all the entities got separated. AC also gives
some of the contract to another sub-contractor depending upon the
project.

BATTULAL RADHEY: CARE Keeps C Debt Rating in Not Cooperating
------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Battulal
Radhey Shyam And Sons (BRS) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long-term Bank        4.00      CARE C; Stable; Issuer not
   Facilities                      cooperating; Based on best
                                   available information

   Short-term Bank       2.00      CARE A4; Issuer not
   Facilities                      cooperating; Based on best
                                   available information

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated August 29, 2019 placed the
rating of BRS under the 'issuer non-cooperating' category as BRS
had failed to provide information for monitoring of the rating. BRS
continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated September 1, 2020,
August 31, 2020 and numerous phone calls. In line with the extant
SEBI guidelines, CARE has reviewed the rating on the basis of the
best available information which however, in CARE's opinion is not
sufficient to arrive at a fair rating. Further banker could not be
contacted.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

The rating takes into account non-availability of requisite
information and no due-diligence conducted due to noncooperation by
BRS with CARE'S efforts to undertake a review of the rating
outstanding. CARE views information availability risk as a key
factor in its assessment of credit risk. Further, the ratings
continue to remain constrained owing by small scale of operations
with low net-worth base, weak financial risk profile, elongated
operating cycle, proprietorship nature of constitution and
competition from players in the organized and unorganized sector.
The ratings, however, continue to take comfort from experienced
proprietor in the gems & jewellery industry and long track record
of operations and moderate profitability margins.

Detailed description of the key rating drivers

At the time of last rating on August 29, 2019, the following were
the rating strengths and weaknesses:

Key Rating Weaknesses

* Small scale of operations with low net-worth base: Despite being
in operations for one decade, the scale of operations of the firm
stood small marked by total operating income (TOI) of INR9.62 crore
in FY18 (Prov.) and net worth base of INR0.34 crore as on March 31,
2018. Furthermore, gross cash accruals stood relatively low at
INR0.22 crore in FY18. The small scale limits the firm's financial
flexibility in times of stress and deprives it of scale benefits.

* Weak financial risk profile: The capital structure of the firm
stood leveraged marked by overall gearing ratio of 19.95x as on
March 31, 2018. Further, the debt coverage indicators of the firm
remained weak as indicated by total debt to GCA of 30.06x for FY18
and interest coverage ratio of 1.46x in FY18.

* Elongated operating cycle: The average operating cycle of BRS
stood at 219 days for FY18 (PY: 163 days). The inventory period
stood high at 198 days for FY18 (PY: 129 days) as the firm
maintains high finished goods inventory consisting of various
designs for display at its showroom. Further, manufacturing of gold
jewellery also lead to higher work-in-progress inventory. The firm
does not offer any credit period to its individual customers.
However, to the retail jewelers, BRS generally offers credit period
of two months which lead to average collection period of 46 days
for FY18 (PY: 56 days). The firm receives a credit period of one
month from its suppliers resulting into average creditor period of
35 days for FY18.

* Proprietorship nature of constitution: BRS's constitution as a
proprietorship firm has the inherent risk of possibility of
withdrawal of the proprietors' capital at the time of personal
contingency and firm being dissolved upon the
death/retirement/insolvency of proprietor. Moreover, proprietorship
firms have restricted access to external borrowings.

* Competition from players in the organized and unorganized sector:
The Indian gems and jewellery industry is highly fragmented as
majority of the market share is spread across a large number of
unorganized players. Currently, the organised retail players in the
jewellery space have only 5-7% share of the total jewellery market,
but this is expected to increase to more than 10% in the near
future. Increasing prices of gold and
aggressive strategy of the modern retail players to increase their
market share would further intensify the competition in the
industry. Thus, increasing competition would have an additional
downside pressure on the profitability margins of jewellery
entities like BRS.

Key Rating Strengths

* Experienced proprietor in the gems & jewelry industry and long
track record of operations: BRS was established in August 2008 as a
proprietorship concern by Mr. Punit Kumar Jain. The proprietor has
a total work experience of two and a half decades which he has
gained through BRS, group concern – Mansarovar Holidays Resort
and
other family run businesses. This has led to management's better
understanding of the market and establishment of strong
relationships with suppliers as well as customers.

* Moderate profitability margins: The profitability margins of the
firm stood moderate marked by PBILDT margin and PAT margin of 7.41%
and 2.33% respectively in FY18 (Prov.). The PBILDT margin improved
from 6.37% in FY17 to 7.41% in FY18 due to better absorption of
fixed costs. Consequently, PAT margin also improved from 2.00% in
FY17 to 2.33% in FY18.

Battulal Radhey Shyam and Sons (BRS), based in Nainital,
Uttarakhand was established in 2008 as a proprietorship firm by Mr.
Punit Kumar Goel. The firm is engaged in manufacturing and trading
of gold jewelry (income from trading constituted 80% of the total
income in FY18). The customer profile mainly comprises of retail
jewelers and individual customers located locally in Nainital,
Uttarakhand and Moradabad, Uttar Pradesh. Besides BRS, the
proprietor is also associated with other group concern –
Mansarovar Holidays, a holiday resort in Jim Corbett National Park,
Uttarakhand.

C.P ISPAT: CARE Keeps D Debt Rating in Not Cooperating Category
---------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of C.P Ispat
Private Limited (CPIPL) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      14.50       CARE D; Issuer not cooperating;
   Facilities                      Based on best available
                                   information

Detailed Rationale & Key Rating Drivers

CARE has been seeking information from CPIPL to monitor the rating
vide e-mail communications/letters dated September 4, 2020,
September 7, 2020, September 9, 2020 and numerous phone calls.
However, despite repeated requests, the entity has not provided the
requisite information for monitoring the rating. In line with the
extant SEBI guidelines, CARE has reviewed the rating on the basis
of the publicly available information which, however, in CARE's
opinion is not sufficient to arrive at a fair rating. The rating on
CPIPL's bank facilities will now be denoted as CARE D; ISSUER NOT
COOPERATING. Further, banker could not be contacted.

Detailed description of the key rating drivers

At the time of last rating in July 17, 2019 the following were the
rating strengths and weaknesses:

Key Rating Weaknesses

* Ongoing delays: The rating takes into account ongoing delay in
the servicing of the bank debt obligations on account of the
stretch liquidity position of the company.

C.P. Ispat Pvt. Limited (CPIPL), incorporated in the year 2006, was
initially promoted by the Kolkata-based Chawla family and was
earlier managed by Mr. Amarjeet Chawla. CPIPL commenced commercial
production in July 2009 at its facility in Bankura, West Bengal.
However, in September 2013, the Chawla family leased out the plant
to the Durgapur-based Jayshree group owned by Mr. Amit Agarwal and
his family. Since September 15, 2013, operations of the plant have
been managed by the Jayshree group. In February 2014, the Jayshree
group entered into an agreement with the Chawla family to purchase
CPIPL with effect from April 2014. CPIPL is engaged in the
manufacturing of sponge iron at its plant located at Barjora,
Bankura with a current installed capacity of 60,000 metric tonne
per annum (MTPA).

C.P SPONGE: CARE Keeps D Debt Rating in Not Cooperating Category
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of C.P Sponge
Iron Private Limited (CPSIPL) continues to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      20.00       CARE D; Issuer not cooperating;
   Facilities                      Based on best available
                                   information

Detailed Rationale & Key Rating Drivers

CARE has been seeking information from CPSIPL to monitor the rating
vide e-mail communications/letters dated September 4, 2020,
September 7, 2020, September 9, 2020 and numerous phone calls.
However, despite repeated requests, the entity has not provided the
requisite information for monitoring the rating. In line with the
extant SEBI guidelines, CARE has reviewed the rating on the basis
of the publicly available information which, however, in CARE's
opinion is not sufficient to arrive at a fair rating. Further, C.
P. Sponge Iron Pvt. Ltd. has not paid the surveillance fees for the
rating exercise as agreed to in its Rating Agreement. The rating on
CPSIPL's bank facilities will now be denoted as CARE D; ISSUER NOT
COOPERATING. Further, banker could not be contacted.

Detailed description of the key rating drivers

At the time of last rating in July 17, 2019 the following were the
rating strengths and weaknesses:

Key Rating Weaknesses

* Ongoing delays: The rating takes into account ongoing delay in
the servicing of the bank debt obligations on account of the
stretch liquidity position of the company.

C.P. Sponge Iron Private Limited (CPSIPL) incorporated in the year
2002, was promoted by Chawla family belonging to West Bengal. The
company commenced operation since July, 2008. CPSIPL is engaged in
the manufacturing of sponge iron at its plant located at Durgapur,
West Bengal with a current installed capacity of 60,000 metric
tonne per annum (MTPA). All the three directors look after the day
to day activities of the business along with a team of experienced
professionals who are having long experience in similar line of
business.

EXOTIC GRANITE: ICRA Keeps B Debt Ratings in Not Cooperating
------------------------------------------------------------
ICRA said the ratings for the INR17.00 crore bank facilities of
Exotic Granite LLP continue to remain under the 'Issuer Not
Cooperating' category. The rating is denoted as "[ICRA]B
(Stable)/[ICRA]A4; ISSUER NOT COOPERATING".

                      Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Fund-based           4.00       [ICRA]B (Stable); ISSUER NOT
   Limits Cash                     COOPERATING; Rating continues
   Credit                          to remain under 'Issuer Not
                                   Cooperating' category

   Fund-based–          6.00       [ICRA]B (Stable); ISSUER NOT
   Term Loan                       COOPERATING; Rating continues
                                   to remain under 'Issuer Not
                                   Cooperating' category

   Short term non       7.00       [ICRA]A4; ISSUER NOT
   Fund based                      COOPERATING; Rating continues
   Letter of Credit                to remain in the 'Issuer Not
                                   Cooperating' category

ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not adequately reflect the credit risk profile of
the entity. The rating action has been taken in accordance with
ICRA's policy in respect of non-cooperation by a rated entity
available at www.icra.in.

Established in December 2012, M/S. Exotic Granite LLP (EGL) set up
a granite cutting and polishing unit in Mundra, Gujarat in April
2014, with a production capacity of cutting and polishing 15,00,000
square feet of granite slabs per annum. The firm is currently
managed by Mr. Rajesh Mandhana, Mr Pradeep Mandhana. Additionally,
Crystal Granite and Marble Private Limited (CGMPL) engaged in
processing granite rough blocks into slabs has also partnered with
EGL.


FUTURE ENTERPRISES: CARE Lowers Rating on INR327cr NCD to D
-----------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Future Enterprises Limited (FEL), as:

                         Amount
   Facilities         (INR crore)    Ratings
   ----------         -----------    -------
   Non-Convertible       327.00      CARE D Revised from CARE C
   Debenture Issue                   rating removed from credit
                                     watch with developing
                                     implications

   Long-term-Term        550.00      CARE C (Credit Watch with
   Loan                              developing implications)

   Long-term fund        625.00      CARE C (Credit Watch with
   based bank                        developing implications)
   facilities–CC       

   Short-term non-       602.00      CARE A4 (Credit Watch with
   fund based bank                   developing implications)
   facilities– LC/BG     
                                   
   Non-Convertible       265.00      CARE D
   Debenture Issue       

   Non-Convertible     2,132.00      CARE C (Credit Watch with
   Debenture Issue                   developing implications)

   Fixed Deposit         700.00      CARE C (FD) (Credit Watch
   Programme                         with developing implications)

Detailed Rationale & Key Rating Drivers

The revision of ratings assigned to the instruments of FEL is on
account of default in servicing of interest due on September 21,
2020 on its Non-convertible Debentures bearing ISIN INE623B07503
and INE623B07511. The default is primarily on account of poor
liquidity position due to subsequent lockdowns in the wake of
COVID-19 outbreak. The other issues raised by CARE in its press
release dated September 8, 2020, viz. weakened credit profile of
its key customer – Future Retail Limited (FRL), delays in release
of sanctioned bank limits and default in servicing of its interest
on its Nonconvertible Debentures bearing ISIN INE623B07487 and
INE623B07495 continue to constrain the ratings. The ratings also
factor in high promoter pledge and falling market capitalisation
significantly impacting financial flexibility, dependence on group
companies for revenue and high working capital cycle. FEL is in
discussion to monetise its investments in insurance business to
improve its liquidity position. The timeliness of monetisation
remains key rating monitorable.

FEL had announced on August 29, 2020 that Reliance Retail Ventures
Limited, a subsidiary of Reliance Industries Limited shall be
acquiring the Retail & Wholesale Business and the Logistics &
Warehousing Business from the Future Group as going concerns on a
slump sale basis for lumpsum aggregate consideration of INR 24,713
crore. The scheme is subject to various approvals and the execution
of the same remains critical from credit perspective.

FEL has sought a moratorium on payments from its lenders as part of
the COVID-19 - Regulatory Package announced by the RBI on March 27,
2020. CARE has not recognised this instance as a Default as of now,
as the same is permitted by the RBI as part of the relief measures.
FEL had interest payment on NCD (INE623B07685 and INE623B07693) due
on April 17, 2020 which was made April 22, 2020. As per the
communication from the investor the company sought moratorium on
NCD interest payment and the same was approved by the investor. The
company also had a CP (ISIN INE623B14AW6) (Not rated by CARE)
payment aggregating to INR100 crore due on April 27, 2020 but the
same was delayed and made on April 28, 2020. As per the IPA the
company had adequate funds in the account but transaction could not
be executed due to delays in banking operations caused by COVID19.
Non-recognition of default in the above cases is as per the
guidance provided by the SEBI circular
SEBI/HO/MIRSD/CRADT/CIR/P/2020/53 dated March 30, 2020.

Key Rating Sensitivities

Positive Factors

   * Improvement in company's liquidity profile resulting from
     equity infusion/divestment of investments/improved credit
     profile of its key customer, FRL

Negative Factors

   * NCDs amounting to INR1,250 crore have accelerated prepayment
     clause in case of rating falling below 'AA-'.  Exercising the

     option to recall bonds may result in severe liquidity issues.

   * Delays in divestment of stake in subsidiaries/JVs/Associate
     companies and/or higher debt resulting in a leveraged capital

     structure over 1.00x (FY21)

   * Inability of the company to scale up new verticals of
     business leading to deterioration of Total Debt/PBILDT over
     3.25x

Detailed description of the key rating drivers (As per PR dated
September 8, 2020)

Key Rating Weaknesses

* Stretched financial flexibility; considerable promoters' stake
pledged: The promoters FEL as of Mar 2018 had pledged 11.64 crore
shares (56.56% of promoter stake). During the past year, the
company's market capitalisation has declined significantly from INR
1,760 crore to INR 719 crore as on July 29, 2020. Falling market
capitalisation coupled with rising debt has led to significant
deterioration of debt to market-capitalisation from 3.73x as on
March 31, 2018 to 3.86x as on March 31, 2019 to current level of
~8.55x. However, in lieu of significant fall in share price, the
promoters had to pledge additional shares taking the total to
87.40% of promoters' stake (as on Jun 30, 2020). Considerable
reduction in market capitalisation and significant proportion of
promoter's stake pledged hampers the company's flexibility to raise
funds.

* Significant dependence on group companies: FEL provides
infrastructure support to group companies, logistical support
through its subsidiary Future Supply Chain Solutions Limited and
also designs, manufactures garments for in-house brands and engages
in trading for various group companies. Sale of goods and services
to its group companies has shown an increasing trend.

FEL is reliant on FRL for a significant portion of its income (Rs.
3,838 crore in FY19). FEL's step-down subsidiary, Future Supply
Chain Solutions Limited also provides warehousing and logistic
requirements to FRL (FY19: INR557.88 crore).

Going ahead, with the proposed acquisition of retail assets from
FEL, lease rentals from FRL are expected to come down by INR
550-650 crore. However, apart from the infrastructure support, FEL
will continue to provide other services to FRL. Furthermore, FEL
and FRL have also provided cross guarantees on behalf of each other
for various borrowings to the tune of INR 5750 crore and INR 3583
crore respectively as on March 31, 2019. These guarantees between
both the companies will eventually be withdrawn post the sale of
assets and subsequent debt repayment.

* High Working Capital Cycle: FEL has high gross working capital
cycle of 176 days in FY19, which has deteriorated from 157 days in
FY18. The reason for high operating cycle is on account of high
inventory days. The company buys on behalf of group companies and
goods are kept at various retail outlets across the country thereby
leading to high inventory period of 16-18 weeks. The company
receives payment after 6-7 weeks from sale of goods. Increase in
inventory days and growth in operations led to an increase in
company's fund based average working capital utilisation (including
CP) for the past 12 months ending Feb 2020 to 71% as against 63%
during the same period last year.

* Intensifying competition in retail industry: Heightened
competition from both brick and mortar and online players could
impact overall SSSG of FEL's customers. Competition from e-commerce
players, remains a key threat. Also, change in FDI norms can lead
to further competition. Currently, the government has allowed FDI
in food processing sector. Apart from this, the government is also
contemplating liberalising rules relating to multi‐brand retail.
This will open up foreign investments which may pose a threat to
existing retail players.

Key Rating Strengths

* Experienced Promoters & Management: The promoters of FEL have
been closely involved in the management of business and in defining
& monitoring the business strategy for the company. Mr. Kishore
Biyani, the founder and Group CEO of the Future group, is widely
recognised as a pioneer of modern retail in India. Furthermore the
promoters are supported by a strong management team having
significant experience in retail industry. The company hold stake
in various other future group companies with main being in Future
Supply Chain Solutions Limited and insurance JV with Future
Generali. The company is looking to divest its holdings in various
group companies in order to reduce debt.

* Sale of assets to improve capital structure; albeit reduction in
rental income: Sale of lease assets to FRL at a fair value of INR
3,952 crore and subsequent debt repayment will help the company to
improve its capital structure. The company's debt level has already
come down from INR 6,730 crore (excl. acceptances on LC) as on Dec
31, 2019 to INR 5,681 crore as on Feb 29, 2020. However, post the
outbreak of COVID19, the company hasn't prepaid the balance debt
which has led to leverage remaining high. Furthermore, reduced cash
flows and significant dependence on banks for working capital
requirements will keep the capital structure under pressure. The
company has plans to divest stake in its insurance business as well
as logistic business which will lead to further improvement in
capital structure upon materialisation. Consequently, with the sale
of assets to FRL, FEL lease rental income from FRL is expected to
significantly decline by INR 550- 650 crore p.a. The ability of the
company to successfully improve capital structure remains critical
from credit perspective.

* New verticals to drive growth: FEL is almost fully dependant on
group companies to drive its growth. The company received 92% of
total sales from group companies. Post the sale of assets to FRL,
FEL's income is expected to decline by INR 550-650 crore and
subsequently PBILDT and PBILDT margins are also expected to
shrink.

Going ahead, even as group companies continue to remain depended on
FEL for their designing, manufacturing and trading requirements,
the latter is looking to develop incumbent business and reduce
dependence on group companies. The company is looking leverage on
data collected through its 'Future Pay' app which has over 16mn
members. It will also provide a market place to group companies
such as FRL and Future Lifestyle Fashions. FEL is also looking to
offer financial services & payments solutions through the app.

The ability of the company to scale the businesses and achieve
envisaged results within stipulated timelines remain critical for
company's credit profile.

Industry Outlook
In view of the COVID19 outbreak and lowering of the discretionary
spending by the consumers in these times of economic downturn, the
outlook for the Indian players in retail sector is 'Negative' in
the short to medium term. The impact on demand, which is expected
to remain muted at least for the next three or four quarters, will
be more in case of players with presence in non-essential items and
luxury segments. However, the expected support from the government
in terms of financial stimulus packages and wage support subsidy as
well as rental waivers from the mall-owners which would help the
retailers to bring down their fixed costs, will reduce the impact
on their credit profile to an extent. The retailers with presence
in essential commodities continue to have some cash flows to
support their fixed costs.

After the control of the spread of the coronavirus and post the
lock-down period, the spending as well as shopping patterns of the
consumers are expected to change significantly. The consumers are
likely to curtail their discretionary spending with reduced income
in their hands as well as tendency to preserve cash. Also, more
preference is likely towards online channels in order to avoid
crowded spaces. In such times, the retailers with presence across
the retail segments (grocery, apparel, appliances, accessories) as
well as who have an omni-channel strategy with presence in both
offline and online channels are expected to have a quicker
recovery.

Liquidity Position: Poor

The company's liquidity profile has been severely impacted on
account of lockdown measures and weakened credit profile of its key
customer, FRL. The company has applied to the lenders for
moratorium as per RBI package. The company has also applied to the
bankers for enhancement in working capital limits, release of peak
limits, interchangeability of limits and COVID19 lines, the same
are under different stages of approval. The timely release of
additional working capital limits continue to remain critical for
meeting the short term repayment obligations. The company is also
looking at monetising its investments in insurance and supply chain
business which would improve the liquidity, however, the same has
been delayed.

Erstwhile Future Retail Ltd. has now been renamed as Future
Enterprises Ltd. (FEL) and houses the physical assets (store
formats of erstwhile FRL and Bharti Retail Limited including all
the infrastructure assets situated in the stores) apart from
strategic investments in various companies. The company is also in
the business of manufacturing and trading of men's wear, women's
wear and kid's wear in denim segment. FEL is also the holding
company for future group's various other businesses.

HOUSING DEVELOPMENT: CBI Files Fresh Case Against Wadhawans
-----------------------------------------------------------
The Times of India reports that the Central Bureau of Investigation
(CBI) on Oct. 9 registered a fresh cheating case against Housing
Development and Infrastructure Ltd (HDIL) promoters Rakesh Wadhawan
and his son Sarang Wadhawan, also known as Sunny Dewan, along with
others in connection with the Yes Bank fraud case, and searched 10
premises.

According to TOI, the duo had been arrested in the Punjab and
Maharashtra Cooperative (PMC) Bank fraud case that is being
investigated by the Enforcement Directorate and Mumbai police.

CBI named HDIL, its promoters Waryam Singh, Amanpreet Singh, V N
Iyenger, Lakhminder Singh, Ashok Jayesh & Associates (chartered
accountants), Jayesh Sanghani, Ashok Gupta, and others in the case,
the report says.

TOI relates that CBI alleged that Mack Star Marketing Pvt Ltd had
developed a building, Kaledonia, in Andheri East, in 2008 by
spending Rs 1,000 crore (Rs 900 crore for purchase of the plot and
Rs 100 crore for construction). Mack Star was a joint venture of
Mauritius-based Ocean Deity Investment Holdings Ltd (ODIL) and a
Wadhawan-owned company. The father-son duo was appointed as
directors of Mack Star since they had a vast experience in real
estate, and ODIL had a passive role in the joint venture. ODIL had
invested in the Andheri project.

To safeguard ODIL's interests, the Article of Association of Mack
Star prohibits its directors-shareholders from selling assets,
creating or taking loans of more than INR20 lakh without ODIL's
consent, TOI says.

The Wahdawans allegedly used most of the funds to repay HDIL's dues
with Yes Bank, to avoid a non-performing asset situation. CBI said
of the total sanctioned loan, INR64 crore was used to settle HDIL
group liabilities, according to TOI. The remaining INR136 crore was
credited into Mack Star's account and then transferred to HDIL and
its three group companies the same day. They used INR96 crore of
the funds to settle Yes Bank dues. Mack Star auditor Ashok Jayesh &
Associates allegedly helped Wadhawans, TOI adds.

                            About HDIL

Housing Development & Infrastructure Limited (HDIL) is real estate
development company.  The Company's services include residential,
commercial, and retail real estate development.

The National Company Law Tribunal (NCLT) on Aug. 20, 2019, admitted
an application filed by Bank of India to initiate insolvency
proceedings against the company.

In July 2020, the National Company Law Appellate Tribunal (NCLAT)
has upheld the NCLT order to initiate insolvency proceedings
against HDIL and rejected the plea of its promoter Rakesh Wadhwan.

KANDAGIRI SPINNING: CARE Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Kandagiri
Spinning Mills Limited (KSML) continues to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long-term Bank       30.85      CARE D; Issuer not cooperating;
   Facilities                      Based on best available
                                   information

   Short-term Bank       1.00      CARE D; Issuer not cooperating;
   Facilities                      Based on best available
                                   information

   Fixed Deposit        14.01      CARE D (FD); Issuer not
                                   cooperating; Based on best
                                   available information

Detailed Rationale & Key Rating Drivers

KSML has not paid the surveillance fees for the rating exercise as
agreed to in its rating agreement. In line with the extant SEBI
guidelines, CARE's rating on of KSML's bank facilities will now be
denoted as CARE D; ISSUER NOT COOPERATING.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating.

Detailed description of the key rating drivers

At the time of last rating on September 4, 2019 the following were
the rating weaknesses (updated for information available
from stock exchange).

Key Rating Weaknesses

* Delay in servicing debt obligations: The Company had delayed in
servicing its debt obligations.

* Weak financial performance: The Company is involved in spinning
of cotton yarn and the operating income continues to be weak at
INR26.62 crore in FY20 as against INR69.71 crore in FY19. The
company reported loss after tax of INR12.36 crore (PY: net loss of
INR18.59 crore) in FY20.

Liquidity: Poor- KSML had poor Liquidity marked by lower accruals
when compared to repayment obligations, fully utilized bank limits
and poor cash balance.

KSML was originally incorporated in 1976 in Salem, Tamil Nadu,
under the name of 'The Ammapet Sizing Mills Private Limited'. The
company took its current name in 1978 and became a public limited
company in 1995. KSML is engaged in textile spinning with an
aggregate capacity of 27,296 spindles (as on March 31, 2019).

KISHAN GUM: ICRA Keeps B Debt Ratings in Not Cooperating Category
-----------------------------------------------------------------
ICRA said the ratings for the INR5.94 crore bank facilities of
Kishan Gum Industries continue to remain under the 'Issuer Not
Cooperating' category. The rating is denoted as "[ICRA]B (Stable);
ISSUER NOT COOPERATING".

                      Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Fund-based           4.50       [ICRA]B (Stable); ISSUER NOT
   Limits Cash                     COOPERATING; Rating continues
   Credit                          to remain under 'Issuer Not
                                   Cooperating' category

   Fund-based–          1.44       [ICRA]B (Stable); ISSUER NOT
   Term Loan                       COOPERATING; Rating continues
                                   to remain under 'Issuer Not
                                   Cooperating' category

ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not adequately reflect the credit risk profile of
the entity. The rating action has been taken in accordance with
ICRA's policy in respect of non-cooperation by a rated entity
available at www.icra.in.

Established in September 2014, Kishan Gum Industries (KGI) is
engaged in processing guar gum seeds to manufacture guar gum
refined splits as main product and churi and kroma as by product.
The guar gum refined splits finds it application as raw material in
guar gum powder manufacturing industries whereas churi and korma
are largely used as cattle feed. The plant is located at Halvad in
Surendranagar district of Gujarat with capacity of processing
10,800 MT of raw guar seeds per annum. The firm commenced
commercial operations in June 2015.

KKB PROJECTS: ICRA Lowers Rating on INR13cr LT Loan to B+
---------------------------------------------------------
ICRA has downgraded the ratings for the INR13.00 crore bank
facilities of KKB Projects Pvt. Ltd and continues to remain under
'Issuer Not Cooperating' category. The rating is now denoted as
"[ICRA]B+ (stable); ISSUER NOT COOPERATING".

                         Amount
   Facilities         (INR crore)   Ratings
   ----------         -----------   -------
   Long Term–Fund        13.00      [ICRA]B+(Stable) ISSUER NOT
   Based Cash Credit                COOPERATING/Rating downgraded
                                    from [ICRA]BB(Stable) and
                                    Continues to remain under
                                    'Issuer Not Cooperating'
                                    Category

The Long-Term rating downgrade is because of lack of adequate
information KKB Projects Pvt. Ltd performance and hence the
uncertainty around its credit risk. ICRA assesses whether the
information available about the entity is commensurate with its
rating and reviews the same as per its "Policy in respect of
non-cooperation by the rated entity". The lenders, investors and
other market participants are thus advised to exercise appropriate
caution while using this rating as the rating may not adequately
reflect the credit risk profile of the entity, despite the
downgrade.  As part of its process and in accordance with its
rating agreement with KKB Projects Pvt. Ltd, ICRA has been trying
to seek information from the entity so as to monitor its
performance, but despite repeated requests by ICRA, the entity's
management has remained non-cooperative. In the absence of
requisite information and in line with SEBI's Circular No.
SEBI/HO/MIRSD4/CIR/2016/119, dated November 1, 2016, ICRA's Rating
Committee has taken a rating view based on the best available
information.

KKB Projects Pvt. Ltd (KPPL) was established in 1993 as a
proprietorship concern by K.K. Bhalala and was reconstituted into a
private limited company in May 2007. KKB is a Government-approved
contractor with an 'AA' category and Special Category I (road
works) class certification in Gujarat. The company constructs roads
for various Government and semiGovernment entities such as Gujarat
Industrial Development Corporation (GIDC) and Surat Municipal
Corporation (SMC).


KRISHNA GEMS: ICRA Lowers Rating on INR7.20cr Loan to B+
--------------------------------------------------------
ICRA has downgraded the ratings for the INR7.40 crore bank
facilities of Krishna Gems and continues to remain under 'Issuer
Not Cooperating' category. The rating is now denoted as "[ICRA]B+
(stable)/[ICRA]A4; ISSUER NOT COOPERATING".

                      Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Fund based-          7.20       [ICRA]B+(Stable) ISSUER NOT  
   Export Packing                  COOPERATING/Rating downgraded
   Credit/Post                     from [ICRA]BB- (Stable) and
   Shipment Credit/                Continues to remain under
   Standby limit                   'Issuer Not Cooperating'
                                   Category

   Non-Fund based-     0.20        [ICRA]A4 ISSUER NOT
   Forward Contract                COOPERATING; Rating continues
                                   to remain under 'Issuer Not
                                   Cooperating' category

The Long-Term rating downgrade is because of lack of adequate
information Krishna Gems performance and hence the uncertainty
around its credit risk. ICRA assesses whether the information
available about the entity is commensurate with its rating and
reviews the same as per its "Policy in respect of non-cooperation
by the rated entity". The lenders, investors and other market
participants are thus advised to exercise appropriate caution while
using this rating as the rating may not adequately reflect the
credit risk profile of the entity, despite the downgrade.

As part of its process and in accordance with its rating agreement
with Krishna Gems, ICRA has been trying to seek information from
the entity so as to monitor its performance, but despite repeated
requests by ICRA, the entity's management has remained
non-cooperative. In the absence of requisite information and in
line with SEBI's Circular No. SEBI/HO/MIRSD4/CIR/2016/119, dated
November 1, 2016, ICRA's Rating Committee has taken a rating view
based on the best available information.

Established in 1980, Krishna Gems (KG) is a partnership firm which
imports rough diamonds and exports cut and polished diamonds. Its
product range mainly comprises diamonds ranging from 2 cents to 2
carats in round, princess, oval, marquise, heart and pear shapes.
The firm has its marketing and sales office at Mumbai and a
manufacturing facility at Surat, Gujarat.


LOTUS OVERSEAS: ICRA Keeps B+ Debt Ratings in Not Cooperating
-------------------------------------------------------------
ICRA said the ratings for the INR8.15 crore bank facilities of
Lotus Overseas continue to remain under the 'Issuer Not
Cooperating' category. The rating is denoted as "[ICRA]B+(Stable);
ISSUER NOT COOPERATING".

                      Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Fund-based–          7.00       [ICRA]B+ (Stable); ISSUER NOT
   Cash Credit                     COOPERATING; Rating continues
                                   to remain under 'Issuer Not
                                   Cooperating' category

   Fund-based–          1.15       [ICRA]B+ (Stable); ISSUER NOT
   Term Loan                       COOPERATING; Rating continues
                                   to remain under 'Issuer Not
                                   Cooperating' category

ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not adequately reflect the credit risk profile of
the entity. The rating action has been taken in accordance with
ICRA's policy in respect of non-cooperation by a rated entity
available at www.icra.in.

Established in May 2017, Lotus Overseas (LO) is a partnership firm
promoted and managed by Mr. Manish Pipaliya and Mr. Chhagan
Pipaliya. The firm is involved in processing and trading in
agro-commodities such as groundnuts, sesame and cumin. The firm's
commercial operations commenced from October 2017. Its
manufacturing facility is located at Junagadh in Gujarat. The
promoters have experience of more than a decade in the
agro-commodity sector.

MINI DIAMONDS: ICRA Withdraws D Ratings on INR9.0cr Loans
---------------------------------------------------------
ICRA has withdrawn the ratings on certain bank facilities of Mini
Diamonds (India) Limited (MDIL), as:

                    Amount
   Facilities     (INR crore)    Ratings
   ----------     -----------    -------
   Long-term          3.50       [ICRA]D ISSUER NOT COOPERATING;
   fund based                    Withdrawn
   limit              
                                  
   Short-term         5.50       [ICRA]D ISSUER NOT COOPERATING;
   Fund based                    Withdrawn
   limit              
                     
Rationale

The rating assigned to MDIL has been withdrawn at the request of
the company and based on the no objection certificate received from
the banker, and in accordance with ICRA's policy on withdrawal and
suspension. ICRA is withdrawing the rating and that it does not
have information to suggest that the credit risk has changed since
the time the rating was last reviewed.

Key rating drivers
The key rating drivers have not been captured as the rated
instrument(s) are being withdrawn.

Liquidity position
Liquidity position has not been captured as the rated instruments
are being withdrawn.

Rating sensitivities
Rating sensitivities have not been captured as the rated
instruments are being withdrawn
Incorporated in the year 1987, Mini Diamonds (India) Limited (MDIL)
is promoted by Mr. Upendra Shah and Mr Himanshu Shah. The company
is engaged in manufacturing and trading of cut and polished
diamonds (CPDs) and Trading of rough diamonds. MDIL primarily
caters to the export market with Hong Kong, Belgium and Dubai being
the major export countries. The company has its registered office
and manufacturing units located in Mumbai. The shares of the
company are listed on Bombay Stock Exchange (BSE).

MINOX METAL: ICRA Lowers Rating on INR45.50cr LT Loan to B+
-----------------------------------------------------------
ICRA has revised the ratings on certain bank facilities of Minox
Metal private limited (MMPL), as:

                      Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term-           45.50      [ICRA]B+ (Stable); ISSUER NOT
   Fund Based/CC                   COOPERATING; Rating downgraded
                                   from [ICRA]BB+ (Stable) and
                                   moved to the 'Issuer Not
                                   Cooperating' category

   Short Term-          20.00      [ICRA] A4; ISSUER NOT
   Non Fund Based                  COOPERATING; Rating downgraded
                                   from [ICRA]A4+ and moved to
                                   the 'Issuer Not Cooperating'
                                   category

ICRA has also moved the long-term and short-term ratings for the
bank facilities of MMPL to the 'Issuer Not Cooperating' category.
The rating is now denoted as "[ICRA]B+ (Stable)/A4; ISSUER NOT
COOPERATING".

ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not adequately reflect the credit risk profile of
the entity.

Incorporated in 2005, MMPL (formerly Mysore Steel Suppliers, a
proprietorship firm) is involved in processing and trading of
stainless steel sheets and coils in all major grades, sizes and
finishes including high-end architecture finishes, color etched,
embossed and mirror which are primarily used in elevators and
escalators. The company has two stainlesssteel processing units in
Bangalore with facilities for slitting, cut-to-length and sheet
polishing. The current combined capacity of the processing plant is
27,000 MTPA (Metric Tons Per Annum). The company's stocking and
selling units are located at Bangalore, Ahmadabad, and Chennai. In
FY2017, the company has forayed into trading of stainless steel
pipes which find its application in architecture, furniture and
kitchen appliances. However, revenue contribution from this segment
remains minimal.

NANDAGUDI OILS: CARE Lowers Rating on INR10cr LT Loan to C
----------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Nandagudi Oils & Agro Industries LLP (NOAI), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long term Bank       10.00      CARE C; Stable; Issuer Not
   Facilities                      Cooperating; Revised from
                                   CARE B; Stable; Issuer Not
                                   Cooperating on the basis of
                                   best available information

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated July 24, 2019, placed the
rating(s) of NOAI under the 'issuer non-cooperating' category as
NOAI had failed to provide information for monitoring of the
rating. NOAI continues to be non-cooperative despite repeated
requests for submission of information through e-mails, phone calls
and email dated September 8, 2020 to September 14, 2020. In line
with the extant SEBI guidelines, CARE has reviewed the rating on
the basis of the best available information which however, in
CARE's opinion is not sufficient to arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating.

The revision in the rating assigned to the bank facilities of
Nandagudi Oils & Agro Industries LLP (NOAI) takes into account
operating and net losses, leverage capital structure and weak debt
coverage indicators in FY 19 (refers to the period April 01 to
March 31). However the rating continues to be tempered by short
track record of the entity, presence in highly fragmented industry
and vulnerability of profitability margins due to presence in the
highly volatile agro-commodity business. The rating also continues
to draw its strength from experience of promoters along with
benefits derived from established client network, comfortable
operating cycle and favorable demand outlook for edible oils in
India.

Detailed description of the key rating drivers

Updated for the information available from Registrar of Company
Affairs (ROC)

Key Rating Weaknesses

* Short track record of the entity along with operating and net
losses incurred during the review period: The firm started with its
commercial operations from December 2014; therefore, the firm has
short track record of operations. However, the firm incurred both
operating and net loss during the review period due to fluctuations
in the material costs and finance costs.

* Presence in highly fragmented industry: The specific food habits
of different regions in India have led to preferences of different
types of edible oil. Coconut oil is used widely in the south,
mustard and palm in the north, and groundnut in the west. The urban
centers have witnessed greater demand for sun flower, soya and
rice-bran oils. Thus localization of product off rings has
fragmented the industry and lowered capacity utilization on due to
large number of players and limited availability of raw material.
The edible oil industry consists of approximately 150000 crushing
units, 795 solvent extraction on & refining plants. The capacity
utilization on rate for the industry is lower than 35%. NOAI being
a new entrant in the business of refining edible oil faces intense
competition on from existing players.

* Vulnerability of profitability margins due to presence in the
highly volatile agro-commodity business: The profitability is
greatly influenced by the movement in prices of soya/cotton/mustard
seed, De-oiled Cake (DOC). Prices of soya/cotton/mustard-based
products are governed by the demand-supply dynamics prevalent in
major soya/cotton/mustard growing nations, weather conditions and
prices of substitute edible oils. Domestic production of
soya/cotton/mustard seed, in turn, is dependent on area under
cultivation, vagaries of monsoon, and prices of other crops,
Minimum Support Price (MSP) and incentives offered by Government of
India (GoI). Furthermore, any increase in the seed prices without a
corresponding increase in DOC and edible wash oil prices will
adversely impact already low profitability margins of the entities
in the business of oil refining.

* Leverage capital structure and weak debt coverage indicators: The
capital structure of the firm marked by overall gearing ratio
deteriorated and stood leverage at 1.16x as on March 31, 2019 as
compared to 0.31x and 0.12x as on March 31, 2018 and March 31, 2017
due to increase in the total debt level on back of accretion of
losses to the reserves during the review period. The debt profile
of the firm consists of Term loan of INR 4.92 crore and Working
capital borrowings of INR7.41 crore as on March 31, 2019. The debt
coverage indicators marked by PBILDT interest coverage and TD/GCA
also stood at negative on back of net losses and cash losses during
the review period.

Key Rating Strengths

* Experienced promoters along with benefits derived from
established client network: The promoters of NOAI have a vast
business experience through SOE which was established in the year
1972 and was engaged in solvent extraction of rice bran oil. It was
also engaged in extraction of other edible oils, such as soya and
sun flower oil. Also, NOAI gets benefited from the established
network of SOE regarding marketing and customers. This aids the
firm in smooth operations despite being a new entity in the oil
processing business.

* Comfortable operating cycle: The operating cycle stood
comfortable at 28 days in FY19 as compared to 29 days and 35 days
in FY18 and FY17. The firm generally offers a credit period of 30
days to its customers and receives credit from its suppliers of
around 10 days. Furthermore, it maintains inventory of around 10-20
days.

* Favorable demand Outlook for edible oils in India: The increasing
edible oil consumption in India is mainly attributed to three
factors: economic boom resulting in better standards of living,
decline in edible oil prices and growth in demand for fried
processed food products. The Indian edible oils market continues to
be underpenetrated and given the positive macro and demographic
fundamentals it has a favorable demand growth outlook over the
medium to long term.

Nandagudi Oils and Agro Industries LLP (NOAI) was established on
July 21, 2014; however commercial productions of the firm started
in December 1, 2014. NOAI is a Limited Liability Partnership firm
formed by reorganizing and restructuring the business operations of
Siddaganga Oil Extractions Private Limited to form two separate
LLPs. SOE has transferred all the related assets and liabilities to
NOAI and Siddaganga Oil and Bio Industries LLP respectively. The
partners of the firm are Mr. N J Shivakumar, Mrs. N S Dhanshree,
Mr. N S Kunal and Mr. N S Sagar. NOAI has a solvent extraction
plant for extraction of rice bran, soya and sunflower oil with a
processing capacity of 300 tons of oil per day. Moreover, the firm
has an edible oil refining plant with an installed capacity of 50
tons per day. The major raw material for the firm is rice bran;
yellow soya seeds, nonrefined sun flower oil and cotton seed washed
oil which are procured from local players from Karnataka.

RAMESHWAR COTTEX: ICRA Keeps D Debt Ratings in Not Cooperating
--------------------------------------------------------------
ICRA said the ratings for the INR9.50 crore bank facilities of
Rameshwar Cottex continue to remain under the 'Issuer Not
Cooperating' category. The rating is denoted as "[ICRA]D; ISSUER
NOT COOPERATING".

                     Amount
   Facilities      (INR crore)    Ratings
   ----------      -----------    -------
   Fund based-         7.00       [ICRA]D ISSUER NOT COOPERATING;
   Cash Credit                    Rating continues to remain
                                  under the 'Issuer Not
                                  Cooperating' category

   Fund-based–         2.50       [ICRA]D ISSUER NOT
COOPERATING;
   Term Loan                      Rating continues to remain
                                  under the 'Issuer Not
                                  Cooperating' category

ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not adequately reflect the credit risk profile of
the entity. The rating action has been taken in accordance with
ICRA's policy in respect of non-cooperation by a rated entity
available at www.icra.in.

Established in April 2016, as a partnership firm, Rameshwar Cottex
(RC) is involved in cotton ginning and pressing to produce cotton
bales and cottonseeds and in trading of raw cotton at its
manufacturing facility located in Rajkot, Gujarat. Its facility is
equipped with 36 ginning machines and a pressing machine with an
installed production capacity of 54 MTPD or 320 bales per day. The
firm set up its manufacturing facility in November 2015 and
commercial operations commenced from January 2016. The promoters
associated with the firm have vast experience in agro-commodities.

RELIANCE NAVAL: NCLAT Directs Excluding Lockdown Phase in CIRP
--------------------------------------------------------------
BloombergQuint reports that the National Company Law Appellate
Tribunal (NCLAT) on Oct. 8 directed to exclude the lockdown
phase--March 25 to Aug. 31, 2020--while computing the insolvency
resolution period for Anil Ambani-led Reliance Naval And
Engineering Ltd.

BloombergQuint relates that the NCLAT direction came after a
petition filed by the resolution professional of Reliance Naval and
Engineering, challenging the order of the Ahmedabad-bench of the
National Company Law Tribunal.

The NCLT had on Aug. 20, 2020, though granted an extension of 90
days to the resolution professional to complete the Corporate
Insolvency Resolution Process beyond 180 days, but declined to
exclude the lockdown period on the ground that 90 days period of
the extension was still in hand, according to BloombergQuint.

BloombergQuint says Reliance Naval and Engineering contended that
its corporate office, located in Maharashtra has been worst hit,
with most of the areas declared Red Zone, culminating in the
extension of the lockdown till Aug. 31, 2020 and this hardship was
required to be mitigated.

A three-member NCLAT bench headed by Acting Chairperson Justice BL
Bhat allowed the appeal, BloombergQuint says.

"We allow this appeal by directing that the period of lockdown
w.e.f. March 25, 2020 till Aug. 31, 2020 shall be excluded while
computing the period of CIRP.

"To avoid any confusion/ambiguity, we make it clear that this
direction will not in any case be construed as interference with
the extension of 90 days' time granted by the NCLT, which shall
begin only after the expiry of the period of CIRP period of 180
days after excluding the period from March 25, 2020 up to Aug. 31,
2020," it said.

Under the Insolvency and Bankruptcy Code, CIRP of the debt-ridden
firm has to be completed within 180 days or within the extended
period of 90 days and mandatorily be completed within 330 days,
including any extension and the time taken in legal proceedings.

Failing to this, the debt-ridden company has to go for liquidation,
the report notes.

Meanwhile, the NCLAT also said: "We make it clear that this order
will not serve as a precedent in all cases as it has been passed in
the peculiar circumstances of the instant case".

Reliance Naval and Engineering's CIRP is undergoing since Jan. 15
this year.

                       About Reliance Naval

Reliance Naval and Engineering Limited designs and constructs
warships and submarines. The Company offers offshore patrol and
research vessels, frigates, corvettes, aircraft carriers, and
destroyers, as well as piping, propeller, trilshaft, rudder,
coating, and machinery repair and maintenance services.  Reliance
Naval and Engineering serves oil and gas sectors worldwide.

As reported in the Troubled Company Reporter-Asia Pacific on Jan.
22, 2020, The Hindu said that the Ahmedabad bench of the National
Company Law Tribunal (NCLT) has admitted an application against
Reliance Naval and Engineering Limited (R-Naval) for insolvency.

"The application by IDBI Bank Ltd. for a claim of INR1,159.43 crore
before the NCLT Ahmedabad bench has been admitted," R-Naval said in
a filing with the exchanges.

This is the second Reliance Group firm to go for insolvency after
Reliance Communications, the Hindu disclosed. The company had total
outstanding dues of INR9,534 crore as on December 31, 2019. It
reported a net loss of INR340 crore on net sales of INR20.5 crore
for the second quarter ended September 30, 2019.

ROYALICA TILES: ICRA Keeps B/A4 Debt Rating in Not Cooperating
--------------------------------------------------------------
ICRA said the rating for the INR7.07 crore bank facilities of
Royalica Tiles continues to remain under the 'Issuer Not
Cooperating' category. The rating is denoted as "[ICRA]B
(Stable)/A4; ISSUER NOT COOPERATING".

                      Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Proposed              7.07      [ICRA]B (Stable)/A4; ISSUER
   Unallocated                     NOT COOPERATING; Rating
   Limits                          continues to remain under
                                   'Issuer Not Cooperating'
                                   Category

ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not adequately reflect the credit risk profile of
the entity. The rating action has been taken in accordance with
ICRA's policy in respect of non-cooperation by a rated entity
available at www.icra.in.

Royalica Tiles will initially engage in manufacturing of digital
vitrified parking tiles of two sizes i.e. 12"x12" and 8"x24". The
plant of the company is located in Morbi, Gujarat. The plant has an
installed capacity of 51300 MTPA (9000 boxes) of digital vitrified
parking tiles. RT is likely to commence its trial runs from July
2016 and commercial production from August 2016.

SHAH TILES: ICRA Keeps B+ Debt Ratings in Not Cooperating
---------------------------------------------------------
ICRA said the ratings for the INR16.55-crore bank facilities of
Shah Tiles Private Limited (STPL) continue to remain under 'Issuer
Not Cooperating' category'. The Long term ratings are denoted as
"[ICRA]B+(Stable) ISSUER NOT COOPERATING" and the Short term
ratings are denoted as "[ICRA]A4 ISSUER NOT COOPERATING".

                      Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term–           7.50       [ICRA]B+ (Stable); ISSUER NOT
   Fund Based-                     COOPERATING; Rating Continues
   Cash Credit                     to remain under 'Issuer Not
                                   Cooperating' category

   Long Term-           7.14       [ICRA]B+ (Stable); ISSUER NOT
   Fund Based-                     COOPERATING; Rating Continues
   Term Loan                       to remain under 'Issuer Not
                                   Cooperating' category

   Short Term-          1.91       [ICRA]A4; ISSUER NOT
   Non Fund Based                  COOPERATING; Rating Continues
                                   to remain under 'Issuer Not
                                   Cooperating' category

ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best available/dated/
limited information on the issuers' performance. Accordingly, the
lenders, investors and other market participants are advised to
exercise appropriate caution while using this rating as the rating
may not adequately reflect the credit risk profile of the entity.

Shah Tiles Private Limited (STPL) was incorporated in 1992, while
commercial production commenced from 1993. The company is owned and
managed by Mr. Hemant Akhani and Mrs. Dipti Akhani. STPL
manufactures soluble salt vitrified tiles of 605mm x 605mm size,
which find wide application in commercial and residential
buildings.

SHIV SHAKTI: ICRA Keeps B+ Debt Ratings in Not Cooperating
----------------------------------------------------------
ICRA said the ratings for the INR23.75 crore bank facilities of
Shiv Shakti Industries continue to remain under the 'Issuer Not
Cooperating' category. The rating is denoted as [ICRA]B+ (Stable);
ISSUER NOT COOPERATING".

                      Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Fund based TL        3.75       [ICRA]B+ (Stable); ISSUER NOT
                                   COOPERATING; Rating continues
                                   to remain under 'Issuer Not
                                   Cooperating' category

   Fund based CC       20.00       [ICRA]B+ (Stable); ISSUER NOT
                                   COOPERATING; Rating continues
                                   to remain under 'Issuer Not
                                   Cooperating' category

ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not adequately reflect the credit risk profile of
the entity. The rating action has been taken in accordance with
ICRA's policy in respect of non-cooperation by a rated entity
available at www.icra.in.

Established in 2013, Shiv Shakti Industries is a partnership firm
with Mr. Soham Purohit and Manisha Purohit as partners. The firm is
engaged in the business of ginning and pressing of raw cotton as
well as crushing of cottonseeds with processing capacity of around
150 TPD of raw cotton. The firm is equipped with 24 ginning
machines and 1 Pressing machine having capacity to produce 250
bales per day. The firm is also equipped with 10 expellers having
capacity to produce 10,500 kgs. of oil per day. The saleable
products of the firm include cotton bales, cotton seeds, cottonseed
oil and cottonseed cakes.

SURYA OIL: ICRA Keeps B+ Debt Ratings in Not Cooperating Category
-----------------------------------------------------------------
ICRA said the ratings for the INR10.79 crore bank facilities of
Surya Oil & Agro Industries continue to remain under the 'Issuer
Not Cooperating' category. The rating is denoted as [ICRA]B+
(Stable); ISSUER NOT COOPERATING".

                      Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Fund-based–          7.00       [ICRA]B+ (Stable); ISSUER NOT
   Cash Credit                     COOPERATING; Rating continues
                                   to remain under 'Issuer Not
                                   Cooperating' category

   Fund-based–          3.79       [ICRA]B+ (Stable); ISSUER NOT
   Unallocated                     COOPERATING; Rating continues
                                   to remain under 'Issuer Not
                                   Cooperating' category

ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not adequately reflect the credit risk profile of
the entity. The rating action has been taken in accordance with
ICRA's policy in respect of non-cooperation by a rated entity
available at www.icra.in.

Established in August 2011, Surya Oil and Agro Industries (SOAI) is
a partnership firm engaged in refining of edible cottonseed oil and
maize oil. SOAI is promoted by Mr. Sanket Zalaria, Mr. Narottam
Patel and Mr. Jateen Adroja. The firm also carries out trading of
other edible oils such as Sunflower oil, sesame oil, rice bran oil
etc. SOAI operates from its plant located in Wankaner, Rajkot with
a total installed capacity of refining 100 MT of edible oil per
day.

TEZALPATTY TEA: CARE Keeps D Debt Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Tezalpatty
Tea Private Limited (TTPL) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       6.35       CARE D; Issuer not cooperating;
   Facilities                      Based on best available
                                   information

Detailed Rationale & Key Rating Drivers

CARE has been seeking information from TTPL to monitor the rating
vide e-mail communications/letters dated September 14, 2020,
September 16, 2020, September 17, 2020 and numerous phone calls.
However, despite repeated requests, the entity has not provided the
requisite information for monitoring the rating. In line with the
extant SEBI guidelines, CARE has reviewed the rating on the basis
of the publicly available information which, however, in CARE's
opinion is not sufficient to arrive at a fair rating. Further,
Tezalpatty Tea Private Limited has not paid the surveillance fees
for the rating exercise as agreed to in its Rating Agreement. The
rating on Tezalpatty Tea Private Limited's bank facilities will now
be denoted as CARE D; ISSUER NOT COOPERATING. Further, banker could
not be contacted.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating.

The rating of bank facility of Tezalpatty Tea Private Limited takes
into account on-going delay in servicing of its debt obligation.

Tezalpatty Tea Private Limited (TTPL) was established in 1994 by
Mrs. Rumena Rehman, Mr. Nilufar Rehman and Mr. Atikur Rehman. The
company is engaged in the processing of black tea and has an
installed capacity of 10 lakh kg per annum. The manufacturing
facility is located at Guwahati, Assam.

ULTRA HOME: CARE Keeps D Debt Ratings in Not Cooperating Category
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Ultra Home
Construction Private Limited (UHCPL) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       204.56     CARE D; Issuer not cooperating;
   Facilities                      Based on best available
                                   information

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated March 13, 2018, placed the
rating of UHCPL under the 'issuer non-cooperating' category as
UHCPL had failed to provide information for monitoring of the
rating. UHCPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated August
4, 2020; September 7, 2020 and September 14, 2020. In line with the
extant SEBI guidelines, CARE has reviewed the rating on the basis
of the best available information which however, in CARE's opinion
is not sufficient to arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

Detailed description of the key rating drivers

At the time of last rating on August 26, 2019 the rating takes into
account the continuation in delays in servicing of debt by the
company.

M/s Ultra Home Construction Private Limited (UHCPL) was
incorporated in April 2004 as a private limited company to carry
out real estate development in both residential and commercial
segment. UHC founded by Mr. Anil Kumar Sharma is the flagship
company of Amrapali group; the group has more than 16 years of
experience with completed projects (both residential and
commercial) spread over 100 acres in Delhi-NCR and Greater Noida
market. UHC had undertaken a commercial project Amrapali Tech-Park
in April 2010. UHC had completed the said project in FY14 at a
total cost of INR722 cr. In 2019, the Promoters of the company are
sent behind the bars in an alleged case of defrauding homebuyers.

UNIWORLD SUGARS: CARE Keeps D Debt Rating in Not Cooperating
------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Uniworld
Sugars Private Limited (USPL) continues to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      60.00       CARE D; Issuer not cooperating;
   Facilities                      Based on best available
                                   information

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated August 27, 2019, placed the
rating of USPL under the 'issuer non-cooperating' category as USPL
had failed to provide information for monitoring of the rating.
USPL continues to be non-cooperative despite repeated requests for
submission of information through e-mails, phone calls and email
dated August 28, 2020. In line with the extant SEBI guidelines,
CARE has reviewed the rating on the basis of the best available
information which however, in CARE's opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

Detailed description of the key rating drivers

At the time of last rating on August 27, 2019 the following were
the rating weaknesses.

Key Rating Weaknesses

* Delay in servicing of debt obligations: There have been on-going
delays by USPL in servicing of its debt obligations, resulting from
stressed liquidity.

USPL is an equal joint venture between ED & F Man Sugar Netherlands
BV (EDF), one of the largest commodity traders in the world markets
and Simbhaoli Sugars Limited (SSL), having one of the largest sugar
refineries in India. USPL is engaged in refinery operations which
processes raw sugar into white refined sugar though ION exchange
process and sells its product under the brand name "Tiger". SSL and
EDF formed a joint venture to set up a manufacturing facility at
the port of Kandla, Gujarat with a capacity to refine 1000 metric
tonnes of raw sugar per day into white refined sugar.

URVESH PSYLLIUM: ICRA Cuts Rating on INR11.40cr LT Loan to B+
-------------------------------------------------------------
ICRA has revised the ratings on certain bank facilities of Urvesh
Psyllium Industries Ltd. (UPIL), as:

                      Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term-           11.40      [ICRA]B+ (Stable) ISSUER NOT
   Fund Based–                     COOPERATING; Rating
downgraded
   Cash Credit                     from [ICRA]BB- (Stable) ISSUER
                                   NOT COOPERATING and continues
                                   to remain under 'Issuer Not
                                   Cooperating' category

   Short Term-           0.44      [ICRA]A4 ISSUER NOT
   Non Fund Based-                 COOPERATING; Rating continues
   Forward Cover                   to remain under 'Issuer Not
                                   Cooperating' category

Rationale

The rating is downgraded because of lack of adequate information
regarding UPIL performance and hence the uncertainty around its
credit risk. ICRA assesses whether the information available about
the entity is commensurate with its rating and reviews the same as
per its "Policy in respect of non-cooperation by the rated
entity".

The lenders, investors and other market participants are thus
advised to exercise appropriate caution while using this rating as
the rating may not adequately reflect the credit risk profile of
the entity, despite the downgrade.

As part of its process and in accordance with its rating agreement
with Urvesh Psyllium Industries Ltd, ICRA has been trying to seek
information from the entity so as to monitor its performance, but
despite repeated requests by ICRA, the entity's management has
remained non-cooperative. In the absence of requisite information
and in line with SEBI's Circular No. SEBI/HO/MIRSD4/CIR/2016/119,
dated November 1, 2016, ICRA's Rating Committee has taken a rating
view based on the best available information.

Urvesh Psyllium Industries Ltd. (UPIL) was established in 1949 as
Rajendra Brothers and subsequently in 1995 the firm was converted
into a limited company under its present name. UPIL is primarily
involved in the business of manufacturing psyllium husk and
psyllium husk powder from psyllium seeds at its manufacturing
facility located at Unjha-Sidhpur region of Gujarat and has an
output capacity of ~4000 MT of psyllium husk per annum. The company
is managed by Mr. Mayank Patel, Mr. Urvesh Patel and their family
members who are also associated with other psyllium
processing firms — Unjha Formulations Ltd, Mayank & Co, Urvesh &
Co, Gangotri Isabgul Industries, Rajratna Isabgul Industries, Dipak
Industries and Himalaya Cold Storage.

VAIJANATH INDUSTRIES: CARE Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Shri
Vaijanath Industries Private Limited (SVIPL) continues to remain in
the 'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        6.10      CARE D; Issuer not cooperating;
   Facilities                      Based on best available
                                   information

   Short Term Bank       0.31      CARE D; Issuer not cooperating;
   Facilities                      Based on best available
                                   information

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated July 30, 2019, placed the
rating(s) of SVIPL under the 'issuer non-cooperating' category as
the company had failed to provide information for monitoring of the
rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. The company
continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated August 31, 2020 and
September 11, 2020. In line with the extant SEBI guidelines, CARE
has reviewed the rating on the basis of the best available
information which however, in CARE's opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating.

Detailed description of the key rating drivers

At the time of last rating on July 30, 2019 the following were the
strengths and weaknesses.

Key Rating Weakness

* Delays in debt servicing: The financial risk profile of the
company is marked by declining income and operating margins,
adverse capital structure, negative cash accruals and stretched
liquidity position evidenced by persistent overdraws in CC account
and delays in debt servicing.

* Modest and small scale of operations with continuous losses:
The total operating income of the company decreased from INR12.09
crore in FY16 to INR11.54 crore in FY18. The PAT has decreased and
stood at INR -0.36 crore in FY18. Weak financial risk profile
marked by decline in operating margins and adverse capital
structure.  The debt equity ratio and overall gearing ratio of the
SVIPL remained highly leveraged as on March 31, 2018, due to
erosion of net worth on account of accumulated losses.

* Elongated Operating cycle: The operating cycle of the company
increased from 91 days in FY16 to 110 days in FY18 due to increase
in average inventory days, average collection period and average
creditors period.

Key Rating Strengths

* Experienced promoters and management team: SVIPL was incorporated
in the year 2008 by the Huddar family. The promoters of the company
Mr. Parashram, Mr. Girish and Mr. Namdev have 30yrs experience each
supported by professionals with adequate experience.

Shri Vaijanath Industries Private Limited (SVIPL) was incorporated
on 13th July 2008; it is involved in the business of forging and
started its commercial production in 2010. The company has its own
manufacturing unit in Kolhapur. The products of the company find
their application in automobiles and CNC machines.

VANSHIKA SUGAR: ICRA Keeps B+ Debt Ratings in Not Cooperating
-------------------------------------------------------------
ICRA said the ratings for the INR36.50-crore bank facilities of
Vanshika Sugar & Power Industries Limited continue to remain under
'Issuer Not Cooperating' category'. The ratings is denoted as
"[ICRA]B+(Stable) ISSUER NOT COOPERATING".

                      Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Cash Credit          14.50      [ICRA]B+(Stable) ISSUER NOT
                                   COOPERATING; Rating continues
                                   to remain in the 'Issuer Not
                                   Cooperating' category

   Term Loan            12.00      [ICRA]B+(Stable) ISSUER NOT
                                   COOPERATING; Rating continues
                                   to remain in the 'Issuer Not
                                   Cooperating' category

   Unallocated          10.00      [ICRA]B+(Stable) ISSUER NOT
                                   COOPERATING; Rating continues
                                   to remain in the 'Issuer Not
                                   Cooperating' category

ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best available
information on the issuers' performance. Accordingly, the lenders,
investors and other market participants are advised to exercise
appropriate caution while using this rating as the rating may not
adequately reflect the credit risk profile of the entity. The
rating action has been taken in accordance with ICRA's policy in
respect of non-cooperation by a rated entity available at
www.icra.in.

The company Vanshika Sugar and Power Industries Limited (VSPIL),
incorporated in 2012, is engaged in the business of manufacturing
of White Crystal Sugar and sale of its by-product. The company's
cane processing plant is at Narsinghpur in Madhya Pradesh with an
installed capacity of 2,500 tonnes of canes crushed per Day (TCD).

VIJAY STONE: ICRA Keeps B+ Debt Ratings in Not Cooperating
----------------------------------------------------------
ICRA said the ratings for the INR10.00-crore bank facilities of
Vijay Stone Quarries Private Limited continue to remain under
'Issuer Not Cooperating' category'. The ratings are denoted as
[ICRA]B+(Stable)/[ICRA]A4 ISSUER NOT COOPERATING".

                      Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term-           0.27       [ICRA]B+(Stable) ISSUER NOT
   Fund Based-                     COOPERATING; Rating continues
   Term Loan                       to remain in the 'Issuer Not
                                   Cooperating' category

   Short Term-          1.50       [ICRA]A4 ISSUER NOT
   Fund Based–                     COOPERATING; Rating continues

   Packing Credit                  to remain in the 'Issuer Not
                                   Cooperating' category

   Short Term-          3.50       [ICRA]A4 ISSUER NOT
   Fund Based–                     COOPERATING; Rating continues
   FDBP/FUBP/OD                    to remain in the 'Issuer Not
                                   Cooperating' category

   Long Term-           4.73       [ICRA]B+(Stable) ISSUER NOT
   Unallocated                     COOPERATING; Rating continues
                                   to remain in the 'Issuer Not
                                   Cooperating' category

ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best available
information on the issuers' performance. Accordingly, the lenders,
investors and other market participants are advised to exercise
appropriate caution while using this rating as the rating may not
adequately reflect the credit risk profile of the entity. The
rating action has been taken in accordance with ICRA's policy in
respect of non-cooperation by a rated entity available at
www.icra.in.

Vijay Stone Quarries Private Limited was incorporated in 1991 by Mr
M Ramesh and his brothers. The directors have an experience of more
than 25 years in quarrying and export of lime stone and slate
stone. The company is involved in the quarrying of lime stone, sand
stone and slate. The entire sale is made in international market to
countries like USA, UK, France, Belgium, Japan, China and others.



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

INDIKA ENERGY: Fitch Assigns BB- Rating to Proposed USD Notes
-------------------------------------------------------------
Fitch Ratings has assigned a rating of 'BB-' to PT Indika Energy
Tbk's (Indika, BB-/Negative) proposed US dollar notes.

The proposed notes will be issued by Indika's wholly owned
subsidiary, Indika Energy Capital IV PTE. LTD. The proposed notes
are rated at the same level as Indika's Issuer Default Rating (IDR)
as they constitute direct, unsubordinated and unsecured obligations
of the company. Indika plans to use the proceeds from the proposed
notes repay some of its existing debt.

The Negative Outlook on Indika's rating continues to reflect the
low rating headroom, as Fitch expects the company's FFO net
leverage to increase to 6.0x in 2020 and remain between 2.7x and
3.2x from 2021 to 2024, relative to its negative sensitivity of
3.0x. Fitch expects Indika's EBITDA to decline by about 30% to
USD280 million in 2020, from USD405 million in 2019, due mainly to
weaker coal prices, lower coal sales volume and a temporary
production stoppage at a client of the contract-mining division.
Fitch forecasts Indika's EBITDA will recover to around USD450
million per annum from 2021, factoring in its assumptions on
improving coal prices, lower mining costs and higher contract
mining volume.

Indika's ratings take into account its ability to meaningfully
curtail operating costs amid weaker coal prices, the improving
credit profile at its contract-mining operations, its capex
flexibility and the potentially lower sensitivity of the group to
weaker coal prices as a result.

KEY RATING DRIVERS

Lower Mining Costs Support Earnings: Indika has been able to
meaningfully curtail the operating costs at its 91%-owned key
mining subsidiary, PT Kideco Jaya Agung, by around USD4/tonne to
USD27.2/tonne in 1H20 from USD31.2/tonne in 2019. The drop was due
to a reduction in Kideco's strip ratio to 5.6x in 1H20 from 6.3x in
2019, lower contract mining rates to third-party contractors and
declining fuel costs. Fitch expects Kideco's strip ratios to stay
at around 5.4x-5.6x over the next seven years, considering Indika's
revised mining plans after the exploration activity over the past
24 months.

Fitch expects Kideco's lower mining costs to mitigate the impact of
weaker selling prices and volume in 2020. Lower costs will also
more than compensate for its weaker price and volume assumptions
from 2021. Fitch expects Kideco's EBITDA to decline to USD140
million in 2020 from USD230 million in 2019, but recover to around
USD220 million-250 million from 2021 despite the recent revision in
its coal price assumptions. Fitch estimates Kideco's average coal
selling price will fall to around USD38/tonne in 2020 and recover
to USD41-42/tonne from 2021 (2019: USD45/tonne).

Petrosea's Stronger Customer Mix: Fitch believes the increasing
exposure of Indika's 70%-owned contract-mining subsidiary, PT
Petrosea Tbk, to Kideco will benefit Indika's credit profile.
Petrosea has streamlined its client mix to only Kideco and PT Bayan
Resources Tbk (BB-/Stable), two of Indonesia's strongest coal
miners. Fitch thinks this will result in a significant improvement
in the stability of Petrosea's long-term earnings profile, with
considerably lower risks of a rate reduction during renegotiations
in a downturn.

Petrosea's contract-mining EBITDA, however, fell by 22% in 1H20 on
an annualised basis due to the production stoppage at Bayan for
around two months until May 2020 due to caution over the
coronavirus at the mine site. Nevertheless, Petrosea was able to
curtail its operating costs by more than Fitch expected, resulting
in a lower impact on its EBITDA. Petrosea will account for only
about 40% of Kideco's volume, leaving potential for further
integration although the group has no immediate plans. Fitch would
consider any significant increase in integration between Kideco and
Petrosea as credit positive.

Capex Flexibility: Indika has been able to curtail capex during
coal-price downcycles as most of its capex was for the expansion of
Petrosea's contract-mining capacity. Indika cut back capex to USD23
million in the previous coal downturn in 2016. Fitch, however, does
not forecast any significant cuts to the long-term capex as Fitch
expects a coal-price recovery from 2021.

Evolving Investment Strategy: Indika plans to increase its earnings
from more non-coal-related operations. Fitch thinks Indika's recent
investments in fuel-storage facilities are less risky as the
earnings of these projects with oil majors are under take-or-pay
contracts. Indika also recently invested in a greenfield gold
project, although its investment is small. Fitch expects the
company to continue to evaluate non-coal investments. Fitch
considers these latest investments as credit neutral but will
regard any major investments as event risks.

Licence Renewals: Fitch expects the mining licence of Kideco to be
extended upon its expiry in 2023 without any major impact on the
credit profile, and will consider any significant negative
development in concession renewals, including non-renewal, as an
event risk. Indonesia in June clarified some licence aspects,
including the continuation of acreage and the extension of licences
over two 10-year periods, but has not yet clarified revised tax and
royalty structures. Fitch expects some clarity over the next few
months in light of the licence expiry of PT Arutmin Indonesia,
another coal miner, in November 2020.

DERIVATION SUMMARY

Indika's ratings are driven by Kideco's moderate cost position,
production flexibility, reasonable reserves and large capacity,
which require little capex. The similar ratings of Bayan reflect
its lower-cost position, larger reserves and a healthier financial
profile with considerably lower sensitivity to price and volume
assumptions than Indika. Bayan has faced operational disruptions
due to bottlenecks in its transport infrastructure, which constrain
its ratings. Indika's operations are more integrated and have a
stronger record of uninterrupted production.

The energy-adjusted cost position of Indika's mining operations is
stronger than that of Golden Energy and Resources Limited (GEAR,
B+/Stable). Indika's operations are also more integrated than that
of GEAR. Indika's higher ratings reflect its large scale of
earnings, robust operational record and more integrated operations.
GEAR's ratings are constrained until it is able to sustainably
improve the scale of operations for the group.

KEY ASSUMPTIONS

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

  - Kideco's average coal selling price to decline to USD38/tonne
in 2020 from USD45/tonne in 2019. Prices to recover to
USD41-42/tonne from 2021

  - Kideco's coal mining volume to decline to 32 million tonnes per
annum (mtpa) in 2020 from 35mpta in 2019. Volume to recover to
33mtpa to 34mtpa from 2021

  - Kideco's cash production costs to drop to between USD32/tonne
and USD33/tonne starting 2020 from USD37/tonne in 2019

  - EBITDA at Petrosea to decline to USD110 million in 2020 from
USD127 million in 2019. Petrosea EBITDA forecast to increase to
over USD140 million from 2021.

  - Consolidated investment and capex of USD100 million in 2020 and
USD110 million-180 million per annum from 2021 to 2024. Majority of
capex from 2020 to be incurred for equipment purchases at Petrosea
and the completion of its fuel-storage project

RATING SENSITIVITIES

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

  - Fitch does not expect an upgrade as the Outlook on the company
is Negative. The Outlook will be revised to Stable if Indika is
able to sustain credit metrics at levels stronger than its negative
sensitivities from 2021, which would be driven by a recovery of
coal prices and volume.

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

  - Indika's FFO net leverage is sustained above 3.0x and/or its
FFO fixed-charge coverage falls below 3.5x in 2021 and beyond

  - Any weakness or challenges in successfully addressing lumpy
debt maturities

LIQUIDITY AND DEBT STRUCTURE

Proposed Notes to Refinance 2022-2023 Maturities: Indika's proposed
notes issuance will be used to fully redeem its USD265 million
notes in 2022 and partially redeem its USD285 million notes due in
2023. Indika's liquidity profile would significantly benefit
following the proposed notes issuance, as it would not have any
major debt maturities until November 2024, when its USD575 million
senior unsecured notes are due. Indika has other debt maturities of
less than USD100 million per annum until 2024.

Fitch expects Indika to pay USD210 million in 2022 to the previous
shareholders of Kideco upon the extension of the mining licence.
Indika's consolidated cash balance is healthy, at USD488 million as
of June 2020, although a large part of this is held under its
operating subsidiaries. Fitch thinks Indika's refinancing risk is
low due to its proactive liquidity and liability management, and a
record of raising funds.

ESG CONSIDERATIONS

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit-neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.

REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF
RATING

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

ESG CONSIDERATIONS

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit-neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.



=========
N E P A L
=========

RAM SUGAR: Cane Farmers Demand Payment of Outstanding Dues
----------------------------------------------------------
Krishana Prasain at Kathmandu Post reports that two months after
Shree Ram Sugar Mill in Rautahat was forced to shut down due to its
piling losses, an association of sugarcane producers on Oct. 11
knocked the door of a parliament body requesting it to make efforts
to get the mill to settle the outstanding dues owed to farmers.

A memorandum was submitted by the Sugarcane Producers Association
to the parliamentary Industry, Commerce, Labour and Consumer
Welfare Committee that deals with various consumer related issues,
the report says.

According to the Post, the association has asked the parliamentary
body to make the mill liable to pay the farmers dues before the
Dashain festival.

The Post relates that the association said that the mill owes them
NPR410 million in outstanding payments, which is pending since the
fiscal year 2014-15. On July 26, Shree Ram Sugar Mill shut down its
operation by publishing a notice.

It said that due to continued losses in the business, it had to be
shut down, the report relays.

The association said that the mill has also not paid workers their
salaries for five months worth around NPR40 million.

The Post says the association has also demanded the factory to be
reopened. "We urge the government to implement our demand," states
the memorandum.

The Post reports that Bimal Prasad Shrivastav, chairperson of the
parliamentary committee, said that the committee held a discussion
with the mill owner on Oct. 11.

"We will discuss the issue with the Industry Minister in the next
meeting before taking the final decision," Shrivastav told the
Post.

However, due to the situation created by the Covid-19 pandemic, the
demand put forth by the sugarcane farmers to get their payment
before Dashain is low, he said.

"But we have asked the mill management to make some payment to the
farmers and employees as the festival is nearing," he added.

Shree Ram Sugar Mill, Annapurna Sugar Mill of Sarlahi, Indira Sugar
Mill of Nawalparasi have millions in unpaid dues owed to sugarcane
farmers, said Kapil Muni Mainali, president of Federation of
Sugarcane Producers Association, the Post relays.

According to the report, the industry minister had summoned the
owners of these mills in December last year and they had pledged to
release the payment within one and half months. "But they have not
released a penny," he said.

Shree Ram Sugar Mill is operated by Hitesh Golchha of Golchha
Organization and started crushing sugarcane from 1994. Around
18,000 farmers in Rautahat district are engaged in sugarcane
farming which is a major source of income to them.

Around 600 employees have lost their jobs and hundreds more have
been affected indirectly after the mill closed down, the Post
notes. They have lost their income source amid the ongoing Covid-19
crisis, according to the association.

Shree Ram Sugar Mill had agreed to release the pending payment by
selling the land of the mill but that did not happen, the Post
states.

Shree Ram has been purchasing sugarcane from farmers in Bara, Parsa
and Rautahat with an annual consignment of 140,000 tonnes of
sugarcane grown on 8,000 bighas of land.

Shree Ram resumed operations on February 12 following pressure from
the government, but it shut down again two weeks later after
crushing 3,800 tonnes of sugarcane, citing lack of raw materials,
the Post adds.



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

MALASIQUI PROGRESSIVE: Insurance Claims Deadline Set for Oct. 16
----------------------------------------------------------------
The Philippine Deposit Insurance Corporation (PDIC) announced that
depositors of the closed Malasiqui Progressive Savings and Loan
Bank, Inc. have until October 16, 2020 to file their deposit
insurance claims.

Based on latest PDIC data, deposit insurance claims for 68 deposit
accounts with aggregate insured deposits amounting to PhP0.79
million have yet to be filed by depositors. Data also showed that
as of July 31, 2020, PDIC had paid depositors of the closed
Malasiqui Progressive Savings and Loan Bank, Inc. the total amount
of PhP59.6 million, corresponding to 98.6% of the bank's total
insured deposits amounting to PhP60.4 million.

Depositors are advised to file their claims either online via
electronic mail (email) at pad@pdic.gov.ph or through postal mail
or courier addressed to the PDIC Public Assistance Department, 6th
Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street,
Makati City.

Claims may also be filed personally at the PDIC's Public Assistance
Center in Makati City on a per appointment basis. To make an
appointment, depositors may call the Public Assistance Hotline at
(02) 8841-4141 or at Toll Free number 1-800-1-888-7342 or
1-800-1-888-PDIC, send an e-mail to pad@pdic.gov.ph, or send a
private message at PDIC's official Facebook account,
www.facebook.com/OfficialPDIC.

When filing claims through e-mail, scanned copies or photo images
of the signed and accomplished Claim Form, evidence of deposit
(i.e., savings passbook, certificate of time deposit, etc.), and
one valid photo-bearing ID with the depositor's signature should be
attached to the e-mail. Scanned copy or photo image of the first
and last page of the passbook, or the front and back
portion of the certificate of time deposit should be sent as e-mail
attachments.

For claims filed personally or via postal mail or courier service,
depositors are advised to enclose the accomplished and signed Claim
Form, original Savings Passbook and/or Certificate of Time Deposit
and photocopy of one (1) valid photo-bearing ID with depositor's
signature.

The depositors are further advised that additional documents and/or
original copy of documents submitted via e-mail may be required by
PDIC, as necessary, in the course of evaluation and processing of
claims.

The Claim Form can be downloaded from the PDIC website
http://www.pdic.gov.ph/files/New_PDIC_Claim_Form.pdf.The Claim
Form is free and there is no fee for filing deposit insurance
claims.

Depositors who are below 18 years old should mail or submit either
a photocopy of their Birth Certificate issued by the Philippine
Statistics Authority (PSA) or a duly certified copy issued by the
Local Civil Registrar. Representatives of claimants are required to
mail or submit an original copy of a notarized Special Power of
Attorney of the depositor or parent of a minor depositor. The
Special Power of Attorney template may be downloaded from the PDIC
website.

Depositors who have been notified of their documentary deficiencies
through official letters from PDIC are requested to comply with the
indicated requirements. The procedures and requirements for the
filing of deposit insurance claims are posted in the PDIC website.

The last day for filing deposit insurance claims was moved to
October 16, 2020 from August 17, 2020 to allow the depositors more
time to prepare the required documents before filing their claims,
and to ensure that affected depositors are not disenfranchised
because of the enhanced community quarantine.

Under the PDIC Charter, depositors are given two years from bank
takeover to file deposit insurance claims with the PDIC. Malasiqui
Progressive Savings and Loan Bank, Inc. was taken over by the PDIC
on August 17, 2018 after it was ordered closed by the Monetary
Board of the Bangko Sentral ng Pilipinas on August 16, 2018.

Depositors who will not be able to file their deposit insurance
claims with PDIC on or before October 16, 2020 may file a claim
against the assets of the bank with the Regional Trial Court -
Branch 48, Urdaneta City, Pangasinan where the Petition for
Assistance in the Liquidation (PAL) of Malasiqui Progressive
Savings and Loan Bank, Inc. is pending under Sp. Proc. No.
SEC-U-165. Payment of these claims shall be subject to availability
of assets of the closed bank, legal priority and approval of the
Liquidation Court.

Depositors who have outstanding loans or payables to the bank will
be referred to the duly designated Loans Officer prior to the
settlement of their deposit insurance claims.



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

HYFLUX: Asks Utico to Address Concerns Raised by Creditor Groups
----------------------------------------------------------------
Nisha Ramchandani at The Business Times reports that Hyflux Ltd has
asked its Middle Eastern suitor Utico to address concerns flagged
by creditor groups before a virtual townhall can be held for the
water treatment firm's perpetual securities and preference shares
(PnP) investors.

BT relates that in a letter to Utico that was released to the
Singapore Exchange late Friday night [Oct. 9], Hyflux independent
director Lau Wing Tat said: "Hyflux's position is that, prior to
any such townhall being organised, Utico should first set out
clearly how it intends to deal with concerns raised by the various
creditor groups; and if necessary, provide revised terms for the
creditors' consideration." In this way, the townwall will be useful
and will not waste time and resources, Mr Lau added.

Mr. Lau also highlighted in the letter that the Securities
Investors Association (Singapore), or Sias, does not intend to
endorse Utico's offer based on its current terms, and that Utico
has yet to convince the medium-term note (MTN) informal steering
committee and/or the unsecured working group (UWG) to support
Utico's current offer, BT relays.

According to BT, Hyflux's letter made reference to an earlier
letter from Utico on Oct 9. In that letter, Utico requested for a
virtual townhall to be arranged by Hyflux with investors of the
firm's PnP on either Saturday afternoon [Oct. 10] or Sunday evening
[Oct. 11].

In the letter, Utico noted that Sias had received "few responses"
to their letter to P&P on Sept. 25, which was based on Utico's
offer on July 23. Of those who had responded, "majority have
accepted Utico's proposal", the Middle Eastern utility provider
said, adding that the July offer does not release Hyflux's
directors, deeming it acceptable based on a condition put forward
by some respondents, BT relates.

BT says the suitor went on to highlight that it has been the only
party to conduct two townhalls for P&P holders, of which the first
was attended by some 450-500 people and the second by about 50-70
people. "Majority (of) respondents/participants have accepted
Utico's proposal," Utico said in the letter.

Utico added: "We also noted from the recent Hyflux affidavit, it
states Pison (Investments) has made an offer to P&P. This is
contrary to the Sias letter of Oct. 7. This may also be explained."
Pison and Aqua Munda are other potential Hyflux suitors.

On Oct. 10, Utico followed up Hyflux's letter with a statement that
was released to the media. In the latest statement, Utico
reiterated that it remained ready for a virtual townhall on Sunday
evening [Oct. 11], according to BT.

"Hyflux (on Saturday) delayed the P&P virtual townhall to give
Pison time to make an offer to P&P working with Sias. However, Sias
issued a letter to Hyflux on Oct. 7 that there are no offers to P&P
than than Utico," Utico, as cited by BT, said in the statement.

"It is interesting to note that as per Hyflux's own statement, UWG
has asked Pison to ensure P&P agrees to their offer, prior to UWG
engaging with investors including Pison," Utico went on to say.

"Three representative sample votes from P&P have given majority
approval for Utico's offer so far - the only approvals Hyflux has
received for any offer to P&P," Utico added.

                           About Hyflux

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

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

The Company engaged WongPartnership LLP as legal advisors and Ernst
& Young Solutions LLP as financial advisors in this process. On
Jan. 29, 2019, WongPartnership applied to discharge themselves due
to difficulties relating to "loss of confidence and good cause" in
working with the client.  The Company subsequently appointed
Clifford Chance and Cavenagh Law as its legal advisers in WongP's
place.

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

SUNMOON FOOD: Shares Slump Amid Parent's Bankruptcy Woes
--------------------------------------------------------
Fiona Lam at The Business Times reports that Sunmoon Food Company's
shares tumbled on Oct. 12 after the mainboard-listed fruit and
seafood distributor announced its parent had filed for bankruptcy
in China more than two months ago.

The board also flagged a going concern issue in view of the
parent's reorganisation, and said SunMoon might raise funds from
investors, BT relates.

The counter lost 0.7 Singapore cent or 17.5 per cent to trade at
3.3 cents as at the midday break. About 10.3 million shares changed
hands, making it one of the most actively traded stocks for the
morning.

In a bourse filing at 12:33 a.m. on Oct. 12, SunMoon said four of
its board members became aware last Friday [Oct. 9] that three
entities -- Shanghai Yiguo E-Commerce, Shanghai Winchain Supply
Chain Management and Shanghai Exfresh Logistic -- were placed under
voluntary bankruptcy reorganisation under Chinese law on July 30,
according to BT.

Shanghai Yiguo E-Commerce is the ultimate holding company of Yiguo
General Food Pte Ltd, which in turn holds a 59.9 per cent stake in
SunMoon as at Oct. 12, BT notes.

SunMoon's total accounts receivable, including advances or
prepayments net of accounts payable owing from the Yiguo-related
entities, amounted to about SGD13.2 million, based on SunMoon's
latest financial statements for the period ended June 30, BT
discloses.

This amount includes some SGD12.4 million of accounts receivable
from the three bankrupt Yiguo entities.

BT says advance payments to interested parties from April 1, 2019
to March 31, 2020 included about S$2.1 million for little lobsters
and S$1.7 million for french fries and seafood, when a SunMoon
subsidiary had purchased these products from two of the bankrupt
Yiguo entities.

The deadline to file the creditors' proof of debt in respect of the
bankruptcy reorganisation is Oct. 19, the report states.

According to the report, SunMoon's board has formed an executive
committee, which will appoint professionals to advise the company
on the matter including the filing of the proof of debt.

This committee comprises the four board members who were made aware
of the bankruptcy reorganisation: chairman and lead independent
director James Prideaux; deputy chairman, non-independent and
non-executive director Gary Loh; independent director Ng Bie Tjin
alias Djuniarti Intan; and independent director Yang Guang.

With immediate effect, the committee has taken over the day-to-day
management and operations of SunMoon and its subsidiaries from the
management team, BT says.

The SunMoon management team will take direct instructions from the
executive committee.

Three of SunMoon's other board members - non-independent directors
Zhang Ye, Jin Guanglei and Liu Yuanyuan - have links to Yiguo, a
fresh food e-commerce retailer in China, BT notes. Mr. Zhang and
Mr. Jin are co-founders of Yiguo, while Ms. Liu is the associate
director of the Yiguo group's executive office, according to
SunMoon's website and its annual report published on Sept. 7, BT
relays.

Mr. Zhang is also SunMoon's chief executive officer. The group
financial controller of SunMoon is Wang Hui Zhen.

According to BT, the Singapore-listed agri-food firm noted on Oct.
12 that there is no certainty as to the collectability of the trade
receivables or debts owing from the Yiguo-related entities.

Although its board is of the view that there will be a material
impact on the SunMoon group's ability to continue as a going
concern, it is unable to assess the impact of the Yiguo entities'
reorganisation as the board does not have access to the court
papers filed in the Chinese courts, BT relays.

BT relates that the board said its current information was derived
from information available in the public domain, which did not
state details of the plans and grounds of the reorganisation
application to the courts.

"The board has been and intends to continue to explore various
possible options to address the issue of going concern, including
seeking to raise funds from investors," it added.

Given that the newly formed executive committee has taken over the
group's management and operations, the board is of the view that
the trading in SunMoon shares should not be suspended, it said on
Oct. 12 in response to the Singapore Exchange's queries, adds BT.

Sunmoon Food Company Limited, an investment holding company,
distributes and markets branded fresh fruits, vegetables, and
consumer products worldwide. Its fresh fruits include apples,
pears, stone fruits, and seasonal fruits; and consumer products
comprise fruit cups, juices, snacks, and frozen products. The
company also manages a network of retail franchise outlets. It
distributes products through supermarkets, convenience stores,
online and wholesale channels, airlines, and food services.



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

[*] BOND PRICING: For the Week Oct. 5, 2020 to Oct. 9, 2020
-----------------------------------------------------------
Issuer                 Coupon     Maturity    Currency    Price
------                 ------     --------    --------    -----


  AUSTRALIA
  ---------

ACN 113 874 712 PTY LTD     13.25    02/15/18    USD      0.13
ACN 113 874 712 PTY LTD     13.25    02/15/18    USD      0.13
CLEAN SEAS SEAFOOD LTD       8.00    11/18/22    AUD      1.06
CLIME CAPITAL LTD/FUND       6.25    11/30/21    AUD      0.98
PALADIN ENERGY LTD          10.00    02/01/23    USD     59.69
PALADIN ENERGY LTD          10.00    02/01/23    USD     59.69
VIRGIN AUSTRALIA HOLDIN      7.88    10/15/21    USD     10.03
VIRGIN AUSTRALIA HOLDIN      7.88    10/15/21    USD     10.03
VIRGIN AUSTRALIA HOLDIN      8.13    11/15/24    USD      6.62
VIRGIN AUSTRALIA HOLDIN      8.08    03/05/24    AUD      6.01
VIRGIN AUSTRALIA HOLDIN      8.25    05/30/23    AUD      5.90
VIRGIN AUSTRALIA HOLDIN      8.13    11/15/24    USD      4.94
VIRGIN AUSTRALIA HOLDIN      8.00    11/26/24    AUD      4.94


   CHINA
   -----

AKESU DISTRICT GREEN IN      4.09    03/11/23    CNY     60.00
AKESU DISTRICT GREEN IN      4.09    03/11/23    CNY     59.47
AKESU XINCHENG ASSET IN      6.40    04/20/22    CNY     40.24
AKESU XINCHENG ASSET IN      6.40    04/20/22    CNY     40.18
ALTAY PREFECTURE STATE-      4.85    01/22/23    CNY     60.70
ALTAY PREFECTURE STATE-      4.85    01/22/23    CNY     59.62
AN SHUN YU KUN REAL EST      5.48    11/10/21    CNY     69.59
ANHUI FOREIGN ECONOMIC       7.30    07/13/21    CNY     70.01
ANHUI JIANGNAN INDUSTRI      4.76    07/08/23    CNY     59.19
ANHUI JIANGNAN INDUSTRI      4.76    07/08/23    CNY     58.88
ANHUI PINGTIANHU INVEST      7.40    10/23/20    CNY     20.02
ANHUI PINGTIANHU INVEST      7.40    10/23/20    CNY     19.60
ANHUI PROVINCE TONGLING      7.30    05/13/21    CNY     27.18
ANHUI PROVINCE TONGLING      7.30    05/13/21    CNY     20.60
ANJI COUNTY STATE-OWNED      8.30    04/24/21    CNY     24.57
ANJI COUNTY STATE-OWNED      8.30    04/24/21    CNY     20.28
ANJI NORTHWEST DEVELOPM      5.90    07/18/23    CNY     60.00
ANJI NORTHWEST DEVELOPM      5.90    07/18/23    CNY     59.91
ANLU CONSTRUCTION DEVEL      5.45    06/15/23    CNY     60.51
ANLU CONSTRUCTION DEVEL      5.45    06/15/23    CNY     60.51
ANQING ECONOMIC&TECHNOL      4.09    03/09/23    CNY     60.10
ANQING ECONOMIC&TECHNOL      4.09    03/09/23    CNY     58.66
ANQING URBAN CONSTRUCTI      6.01    04/27/22    CNY     40.92
ANQING URBAN CONSTRUCTI      6.01    04/27/22    CNY     40.00
ANSHUN STATE-RUN ASSETS      4.48    07/18/23    CNY     58.40
ANSHUN STATE-RUN ASSETS      4.48    07/18/23    CNY     56.88
BAOJI HI-TECH INDUSTRIA      8.25    04/21/21    CNY     20.25
BAOJI HI-TECH INDUSTRIA      8.25    04/21/21    CNY     20.00
BAOTOU CITY SCIENCE EDU      6.48    03/25/22    CNY     45.50
BAOTOU CITY SCIENCE EDU      6.48    03/25/22    CNY     41.11
BAOYING CITY CONSTRUCTI      4.50    03/24/23    CNY     60.51
BAOYING CITY CONSTRUCTI      4.50    03/24/23    CNY     60.05
BAYAN ZHUOER HETAO WATE      8.54    03/31/22    CNY     30.94
BAZHONG STATE-OWNED ASS      5.13    12/02/22    CNY     60.00
BAZHONG STATE-OWNED ASS      5.13    12/02/22    CNY     59.14
BAZHONG STATE-OWNED ASS      8.50    04/25/21    CNY     20.44
BAZHONG STATE-OWNED ASS      8.50    04/25/21    CNY     20.35
BEIJING CAPITAL DEVELOP      6.50    02/27/21    CNY     20.22
BEIJING CAPITAL DEVELOP      7.19    01/15/21    CNY     20.17
BEIJING CAPITAL DEVELOP      7.19    01/15/21    CNY     20.00
BEIJING CHANGXIN CONSTR      6.74    04/22/21    CNY     20.37
BEIJING CHANGXIN CONSTR      6.74    04/22/21    CNY     20.34
BEIJING FUTURE SCIENCE       4.20    08/13/22    CNY     40.30
BEIJING FUTURE SCIENCE       4.20    08/13/22    CNY     40.27
BEIJING JINLIYUAN STATE      7.00    10/28/20    CNY     20.03
BEIJING JINLIYUAN STATE      7.00    10/28/20    CNY     20.00
BEIJING SHIJINGSHAN STA      6.08    08/18/21    CNY     23.87
BEIJING SHIJINGSHAN STA      6.08    08/18/21    CNY     20.40
BEIJING XINCHENG INFRAS      7.50    04/21/21    CNY     20.29
BEIJING XINCHENG INFRAS      7.50    04/21/21    CNY     20.20
BEIJING XINGZHAN INVEST      6.66    04/24/21    CNY     20.33
BEIJING XINGZHAN INVEST      6.66    04/24/21    CNY     20.32
BEIPIAO CITY CONSTRUCTI      6.70    03/25/23    CNY     61.58
BEIPIAO CITY CONSTRUCTI      6.70    03/25/23    CNY     55.11
BENGBU GAOXIN INVESTMEN      8.70    04/17/21    CNY     20.28
BENGBU GAOXIN INVESTMEN      8.70    04/17/21    CNY     20.00
BENXI URBAN CONSTRUCTIO      6.24    01/22/22    CNY     40.03
BENXI URBAN CONSTRUCTIO      6.24    01/22/22    CNY     40.00
BIJIE CONSTRUCTION INVE      6.50    01/28/22    CNY     45.65
BIJIE CONSTRUCTION INVE      6.50    01/28/22    CNY     40.43
BIJIE KAIYUAN CONSTRUCT      7.78    02/25/21    CNY     30.00
BIJIE KAIYUAN CONSTRUCT      7.78    02/25/21    CNY     20.11
BINZHOU HI-TECH DEVELOP      8.60    01/10/21    CNY     23.40
BINZHOU HI-TECH DEVELOP      8.60    01/10/21    CNY     20.13
BINZHOU ZHONGHAI VENTUR      6.65    04/13/22    CNY     40.29
BINZHOU ZHONGHAI VENTUR      6.65    04/13/22    CNY     40.00
BOHAI LEASING CO LTD         7.00    06/20/21    CNY     68.53
BORALA MONGOL AUTONOMOU      5.77    08/26/22    CNY     40.61
BORALA MONGOL AUTONOMOU      5.77    08/26/22    CNY     39.00
BOZHOU URBAN CONSTRUCTI      4.78    04/14/23    CNY     60.57
BOZHOU URBAN CONSTRUCTI      4.78    04/14/23    CNY     59.79
CANGNAN COUNTY STATE OW      5.58    11/11/22    CNY     68.00
CANGNAN COUNTY STATE OW      5.58    11/11/22    CNY     60.71
CEFC SHANGHAI INTERNATI      4.98    12/10/20    CNY     61.29
CEFC SHANGHAI INTERNATI      4.08    09/09/21    CNY     60.00
CHANG DE DING LI INDUST      4.30    03/10/23    CNY     60.11
CHANG DE DING LI INDUST      4.30    03/10/23    CNY     60.06
CHANGCHUN MODERN AGRICU      7.00    07/25/21    CNY     20.13
CHANGCHUN MODERN AGRICU      7.00    07/25/21    CNY     19.50
CHANGDE DE YUAN SHANTY       5.33    09/13/23    CNY     67.47
CHANGDE ECONOMIC CONSTR      7.00    03/24/21    CNY     20.29
CHANGDE ECONOMIC CONSTR      7.00    03/24/21    CNY     20.25
CHANGDE URBAN CONSTRUCT      3.59    01/12/23    CNY     60.00
CHANGDE URBAN CONSTRUCT      3.59    01/12/23    CNY     59.86
CHANGLE COUNTY NEWTOWN       5.18    12/16/22    CNY     62.03
CHANGLE COUNTY NEWTOWN       5.18    12/16/22    CNY     59.60
CHANGSHA COUNTY XINGCHE      7.90    03/25/22    CNY     41.61
CHANGSHA COUNTY XINGCHE      7.90    03/25/22    CNY     41.61
CHANGSHA ECONOMIC & TEC      8.45    04/13/22    CNY     30.70
CHANGSHA FURONG CITY DE      3.88    01/26/23    CNY     60.67
CHANGSHA FURONG CITY DE      3.88    01/26/23    CNY     60.14
CHANGSHA METRO GROUP CO      5.40    07/14/25    CNY     82.67
CHANGSHA METRO GROUP CO      5.97    04/03/25    CNY     73.39
CHANGSHA METRO GROUP CO      5.97    04/03/25    CNY     73.26
CHANGSHA METRO GROUP CO      5.40    07/14/25    CNY     70.00
CHANGSHA METRO GROUP CO      6.20    04/23/23    CNY     48.35
CHANGSHA METRO GROUP CO      6.20    04/23/23    CNY     46.21
CHANGSHA TIANXIN CITY C      4.20    11/06/22    CNY     60.10
CHANGSHA TIANXIN CITY C      4.20    11/06/22    CNY     59.96
CHANGSHA TIANXIN CITY C      3.43    08/08/23    CNY     59.83
CHANGSHA TIANXIN CITY C      3.43    08/08/23    CNY     59.09
CHANGSHA YUHUA JINGKAI       4.17    09/06/23    CNY     59.08
CHANGSHA YUHUA JINGKAI       4.17    09/06/23    CNY     58.90
CHANGSHA YUHUA URBAN CO      3.80    01/28/23    CNY     59.84
CHANGSHA YUHUA URBAN CO      7.17    04/18/21    CNY     24.00
CHANGSHA YUHUA URBAN CO      7.17    04/18/21    CNY     20.41
CHANGSHU BINJIANG URBAN      6.39    09/11/21    CNY     20.41
CHANGSHU BINJIANG URBAN      6.39    09/11/21    CNY     20.00
CHANGSHU DONGNAN ASSET       6.53    03/26/22    CNY     47.32
CHANGSHU DONGNAN ASSET       6.53    03/26/22    CNY     41.11
CHANGSHU TRANSPORTATION      7.00    04/29/21    CNY     27.00
CHANGSHU TRANSPORTATION      7.00    04/29/21    CNY     20.26
CHANGXING COMMUNICATION      7.88    04/30/21    CNY     30.30
CHANGXING COMMUNICATION      7.88    04/30/21    CNY     20.30
CHANGXING COMMUNICATION      6.75    06/16/21    CNY     20.20
CHANGXING COMMUNICATION      6.75    06/16/21    CNY     20.03
CHANGXING URBAN CONSTRU      6.00    12/03/21    CNY     40.26
CHANGXING URBAN CONSTRU      6.00    12/03/21    CNY     39.00
CHANGZHOU BINHU CONSTRU      8.04    12/12/20    CNY     20.30
CHANGZHOU BINHU CONSTRU      8.04    12/12/20    CNY     20.14
CHANGZHOU PUBLIC HOUSIN      6.64    07/02/21    CNY     20.11
CHANGZHOU PUBLIC HOUSIN      6.64    07/02/21    CNY     20.11
CHANGZHOU TIANNING CONS      6.48    02/12/22    CNY     40.81
CHANGZHOU TIANNING CONS      6.48    02/12/22    CNY     40.00
CHAOHU URBAN TOWN CONST      6.50    04/30/22    CNY     42.10
CHAOHU URBAN TOWN CONST      6.50    04/30/22    CNY     40.87
CHENGDU ECONOMIC & TECH      6.90    05/30/21    CNY     26.00
CHENGDU ECONOMIC & TECH      6.90    05/30/21    CNY     20.31
CHENGDU GARDEN WATER CI      6.15    05/03/23    CNY     60.22
CHENGDU GARDEN WATER CI      6.15    05/03/23    CNY     60.09
CHENGDU LONGBO INVESTME      8.10    04/24/21    CNY     20.30
CHENGDU LONGBO INVESTME      8.10    04/24/21    CNY     20.26
CHENGDU PIDU DISTRICT S      6.95    04/01/22    CNY     48.83
CHENGDU PIDU DISTRICT S      6.95    04/01/22    CNY     40.99
CHENGDU PIDU DISTRICT S      7.25    10/15/20    CNY     20.01
CHENGDU PIDU DISTRICT S      7.25    10/15/20    CNY     20.00
CHENGDU SHUZHOU CITY CO      6.58    05/26/22    CNY     40.97
CHENGDU SHUZHOU CITY CO      6.58    05/26/22    CNY     40.50
CHENGDU XINGCHENGJIAN I      6.00    03/20/22    CNY     40.80
CHENGDU XINGCHENGJIAN I      6.00    03/20/22    CNY     40.00
CHENGDU XINKAIYUAN URBA      5.29    04/27/23    CNY     59.85
CHENGDU XINKAIYUAN URBA      5.29    04/27/23    CNY     59.48
CHENGDU XINKAIYUAN URBA      7.43    08/12/21    CNY     21.00
CHENGDU XINKAIYUAN URBA      7.43    08/12/21    CNY     20.35
CHENGFA INVESTMENT GROU      6.87    04/30/21    CNY     21.37
CHENGFA INVESTMENT GROU      6.87    04/30/21    CNY     20.26
CHENZHOU BAIFU INVESTME      4.96    03/22/26    CNY     74.16
CHENZHOU BAIFU INVESTME      4.96    03/22/26    CNY     73.33
CHENZHOU BAIFU INVESTME      6.54    08/28/21    CNY     20.15
CHENZHOU BAIFU INVESTME      6.54    08/28/21    CNY     20.00
CHENZHOU FUCHENG HIGH T      4.73    01/22/23    CNY     60.22
CHENZHOU FUCHENG HIGH T      4.73    01/22/23    CNY     59.85
CHENZHOU INDUSTRY INVES      6.45    01/23/22    CNY     48.60
CHENZHOU INDUSTRY INVES      6.45    01/23/22    CNY     40.32
CHENZHOU XINTIAN INVEST      5.38    03/08/26    CNY     74.36
CHIBI LANTIAN URBAN CON      4.38    08/10/23    CNY     59.44
CHIBI LANTIAN URBAN CON      4.38    08/10/23    CNY     59.27
CHINA MINSHENG INVESTME      7.00    12/26/20    CNY     36.65
CHINA OCEANWIDE HOLDING      8.90    12/13/21    CNY     50.26
CHINA SECURITY CO LTD        4.45    11/11/19    CNY     31.00
CHINA YIXING ENVIRONMEN      4.08    09/14/23    CNY     59.77
CHINA YIXING ENVIRONMEN      4.08    09/14/23    CNY     59.76
CHINA YIXING ENVIRONMEN      7.10    10/18/20    CNY     20.40
CHINA YIXING ENVIRONMEN      7.10    10/18/20    CNY     20.01
CHONGQIN BAIYAN INVESTM      5.75    05/03/23    CNY     61.35
CHONGQIN BAIYAN INVESTM      5.75    05/03/23    CNY     60.17
CHONGQIN XINLIANG INVES      4.76    08/26/23    CNY     56.39
CHONGQIN XINLIANG INVES      4.76    08/26/23    CNY     56.33
CHONGQING BANAN ECONOMI      6.17    03/13/22    CNY     40.47
CHONGQING BANAN ECONOMI      7.00    08/20/21    CNY     21.10
CHONGQING BANAN ECONOMI      7.00    08/20/21    CNY     20.46
CHONGQING BAYUAN CONSTR      4.99    08/16/23    CNY     58.14
CHONGQING BEICHENG CONS      7.30    10/16/20    CNY     20.30
CHONGQING BEICHENG CONS      7.30    10/16/20    CNY     20.00
CHONGQING BISHAN DISTRI      4.93    03/29/23    CNY     61.87
CHONGQING BISHAN DISTRI      4.93    03/29/23    CNY     60.96
CHONGQING CHANGSHOU ECO      7.20    07/15/21    CNY     20.22
CHONGQING CHANGSHOU ECO      7.20    07/15/21    CNY     20.00
CHONGQING CHANGSHOU ECO      7.10    06/19/21    CNY     20.18
CHONGQING CHANGSHOU ECO      7.10    06/19/21    CNY     20.00
CHONGQING DAZU INDUSTRI      6.30    04/28/22    CNY     40.43
CHONGQING DAZU INDUSTRI      6.30    04/28/22    CNY     40.00
CHONGQING ECO&TECH DEVE      3.95    04/13/23    CNY     60.15
CHONGQING FULING DISTRI      7.89    03/20/21    CNY     27.33
CHONGQING FULING DISTRI      7.89    03/20/21    CNY     20.22
CHONGQING FULING TRAFFI      6.68    02/03/22    CNY     40.64
CHONGQING FULING TRAFFI      6.68    02/03/22    CNY     40.00
CHONGQING GAOXIN ZONE D      7.80    04/25/21    CNY     30.80
CHONGQING GAOXIN ZONE D      7.80    04/25/21    CNY     20.42
CHONGQING GARDENING IND      8.45    06/03/21    CNY     20.45
CHONGQING GARDENING IND      8.45    06/03/21    CNY     20.00
CHONGQING HAOJIANG CONS      8.05    03/06/21    CNY     20.20
CHONGQING HAOJIANG CONS      7.99    11/22/20    CNY     20.04
CHONGQING HAOJIANG CONS      8.05    03/06/21    CNY     20.00
CHONGQING HAOJIANG CONS      7.99    11/22/20    CNY     20.00
CHONGQING HECHUAN CITY       3.95    09/06/23    CNY     61.22
CHONGQING HECHUAN CITY       3.95    09/06/23    CNY     59.88
CHONGQING HECHUAN CITY       7.30    07/07/21    CNY     21.00
CHONGQING HECHUAN CITY       7.30    07/07/21    CNY     20.53
CHONGQING INTERNATIONAL      7.08    10/18/20    CNY     20.29
CHONGQING INTERNATIONAL      7.08    10/18/20    CNY     20.01
CHONGQING JIANGBEIZUI C      6.50    07/21/21    CNY     20.40
CHONGQING JIANGBEIZUI C      6.50    07/21/21    CNY     20.30
CHONGQING JINYUN ASSET       4.50    12/31/22    CNY     60.08
CHONGQING JINYUN ASSET       4.50    12/31/22    CNY     60.04
CHONGQING JIULONG HI-TE      6.60    08/19/21    CNY     20.46
CHONGQING JIULONG HI-TE      6.60    08/19/21    CNY     20.25
CHONGQING KAIQIAN INVES      4.64    03/21/23    CNY     58.90
CHONGQING KAIQIAN INVES      4.64    03/21/23    CNY     58.82
CHONGQING LAND PROPERTI      3.36    03/21/23    CNY     60.10
CHONGQING LAND PROPERTI      3.36    03/21/23    CNY     59.72
CHONGQING LIANGJIANG NE      3.60    04/19/21    CNY     40.60
CHONGQING LIANGJIANG NE      3.60    04/19/21    CNY     39.95
CHONGQING LIANGJIANG NE      3.10    08/05/21    CNY     39.93
CHONGQING LIANGJIANG NE      3.17    01/13/21    CNY     39.92
CHONGQING LIANGJIANG NE      3.17    01/13/21    CNY     39.90
CHONGQING LIANGJIANG NE      6.70    04/25/21    CNY     22.72
CHONGQING LIANGJIANG NE      5.88    09/16/21    CNY     20.38
CHONGQING LIANGJIANG NE      5.88    09/16/21    CNY     20.31
CHONGQING LIANGJIANG NE      6.70    04/25/21    CNY     20.31
CHONGQING MAIRUI URBAN       4.95    04/21/23    CNY     62.61
CHONGQING MAIRUI URBAN       4.95    04/21/23    CNY     61.67
CHONGQING NANCHUAN CITY      4.20    07/11/23    CNY     59.54
CHONGQING NANCHUAN CITY      4.20    07/11/23    CNY     58.31
CHONGQING QIANJIANG CIT      8.00    03/21/21    CNY     21.70
CHONGQING QIANJIANG CIT      8.00    03/21/21    CNY     20.18
CHONGQING QIJIANG EAST       4.00    09/05/23    CNY     58.13
CHONGQING QIJIANG EAST       4.00    09/05/23    CNY     58.05
CHONGQING SHUANGFU CONS      7.49    10/23/20    CNY     20.01
CHONGQING SHUANGFU CONS      7.49    10/23/20    CNY     20.00
CHONGQING SHUANGQIAO EC      5.99    11/19/21    CNY     46.25
CHONGQING SHUANGQIAO EC      5.99    11/19/21    CNY     40.14
CHONGQING TAX FREE PORT      7.50    04/24/21    CNY     21.70
CHONGQING TAX FREE PORT      7.50    04/24/21    CNY     20.32
CHONGQING TEA GARDEN IN      7.70    05/20/21    CNY     20.28
CHONGQING TONGLIANG JIN      6.59    04/08/22    CNY     40.81
CHONGQING TONGLIANG JIN      6.59    04/08/22    CNY     40.00
CHONGQING TONGNAN DISTR      4.99    12/31/22    CNY     60.00
CHONGQING TONGNAN DISTR      4.99    12/31/22    CNY     59.36
CHONGQING WANSHENG ECO       6.95    08/25/21    CNY     25.00
CHONGQING WANSHENG ECO       8.19    04/08/21    CNY     23.90
CHONGQING WANSHENG ECO       8.19    04/08/21    CNY     20.20
CHONGQING WANSHENG ECO       6.95    08/25/21    CNY     20.16
CHONGQING WANSHENG ECO       5.40    11/18/21    CNY     69.87
CHONGQING WANZHOU SANXI      4.95    08/25/22    CNY     40.80
CHONGQING WANZHOU SANXI      4.95    08/25/22    CNY     40.55
CHONGQING XINGRONG HOLD      4.86    03/31/23    CNY     59.30
CHONGQING XINGRONG HOLD      4.86    03/31/23    CNY     58.50
CHONGQING XIYONG MICRO-      6.58    07/25/21    CNY     22.33
CHONGQING XIYONG MICRO-      6.58    07/25/21    CNY     20.48
CHONGQING YONGCHUAN HUI      7.28    05/30/21    CNY     21.60
CHONGQING YONGCHUAN HUI      7.28    05/30/21    CNY     20.37
CHONGQING YUELAI INVEST      6.09    04/29/22    CNY     41.01
CHONGQING YUELAI INVEST      6.09    04/29/22    CNY     40.00
CHONGQING YUNAN ASSET M      7.05    06/17/21    CNY     20.76
CHONGQING YUNAN ASSET M      7.05    06/17/21    CNY     20.47
CHONGQING YUZHONG STATE      7.25    02/26/21    CNY     20.28
CHONGQING YUZHONG STATE      7.25    02/26/21    CNY     20.20
CHUN'AN XINANJIANG DEVE      6.10    03/11/22    CNY     44.55
CHUN'AN XINANJIANG DEVE      6.10    03/11/22    CNY     40.64
CHUZHOU CITY CONSTRUCTI      6.17    11/30/21    CNY     61.00
CHUZHOU CITY CONSTRUCTI      6.40    08/22/21    CNY     20.48
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       6.18    08/18/21    CNY     28.80
CIXI CITY CONSTRUCTION       6.18    08/18/21    CNY     20.39
DAFANG COUNTY CONSTRUCT      6.00    09/26/23    CNY     58.42
DAFANG COUNTY CONSTRUCT      6.00    09/26/23    CNY     57.80
DALI ECONOMIC DEVELOPME      8.30    12/11/20    CNY     20.60
DALI ECONOMIC DEVELOPME      7.90    03/04/21    CNY     20.15
DALI ECONOMIC DEVELOPME      8.30    12/11/20    CNY     20.13
DALI ECONOMIC DEVELOPME      7.90    03/04/21    CNY     20.00
DALI HAIDONG DEVELOPMEN      6.01    01/25/23    CNY     61.47
DALI HAIDONG DEVELOPMEN      6.01    01/25/23    CNY     59.82
DALIAN PULANDIAN CONSTR      3.80    01/25/23    CNY     59.07
DALIAN RONGDA INVESTMEN      5.69    12/05/21    CNY     40.47
DALIAN RONGQIANG INVEST      7.92    04/14/21    CNY     20.22
DALIAN RONGQIANG INVEST      7.92    04/14/21    CNY     20.22
DALIAN RONGQIANG INVEST      8.60    01/20/21    CNY     20.16
DALIAN RONGQIANG INVEST      8.60    01/20/21    CNY     20.15
DALIAN SHITAI CITY CONS      4.50    02/01/23    CNY     55.85
DALIAN SHITAI CITY CONS      4.50    02/01/23    CNY     54.87
DALIAN SHITAI CITY CONS      7.09    02/20/21    CNY     19.79
DANDONG PORT GROUP CO L      5.50    01/27/21    CNY     59.00
DANGTU COUNTY CONSTRUCT      5.38    08/10/22    CNY     40.75
DANGTU COUNTY CONSTRUCT      5.38    08/10/22    CNY     40.59
DANGYANG XINYUAN INVEST      4.97    03/29/23    CNY     60.54
DANGYANG XINYUAN INVEST      4.97    03/29/23    CNY     60.08
DANGYANG XINYUAN INVEST      7.99    05/23/21    CNY     20.00
DANYANG HI-TECH INDUSTR      6.40    04/24/22    CNY     40.18
DANYANG HI-TECH INDUSTR      6.40    04/24/22    CNY     40.00
DANYANG INVESTMENT GROU      3.99    01/25/23    CNY     59.51
DANYANG INVESTMENT GROU      6.90    10/23/20    CNY     20.16
DANYANG INVESTMENT GROU      6.90    10/23/20    CNY     20.02
DATONG ECONOMIC CONSTRU      4.49    10/22/22    CNY     60.41
DATONG ECONOMIC CONSTRU      4.49    10/22/22    CNY     60.30
DAWA COUNTY CITY CONSTR      6.29    06/12/22    CNY     39.30
DAWA COUNTY CITY CONSTR      6.29    06/12/22    CNY     39.14
DAYE ZHENHENG CITY DEVE      4.50    03/28/23    CNY     58.93
DAYE ZHENHENG CITY DEVE      4.50    03/28/23    CNY     58.92
DAYE ZHENHENG CITY DEVE      4.05    08/31/23    CNY     58.44
DAYE ZHENHENG CITY DEVE      4.05    08/31/23    CNY     58.17
DAYE ZHENHENG CITY DEVE      7.30    03/03/21    CNY     23.53
DAYE ZHENHENG CITY DEVE      7.30    03/03/21    CNY     20.20
DAYE ZHENHENG CITY DEVE      7.95    11/27/20    CNY     20.15
DAYE ZHENHENG CITY DEVE      7.95    11/27/20    CNY     20.08
DAZHOU DEVELOPMENT HOLD      5.10    11/27/22    CNY     60.52
DAZHOU DEVELOPMENT HOLD      5.10    11/27/22    CNY     60.00
DAZHOU DEVELOPMENT HOLD      6.55    01/14/22    CNY     40.76
DAZHOU DEVELOPMENT HOLD      6.55    01/14/22    CNY     40.00
DEHONGZHOU HONGKANG INV      6.68    01/23/22    CNY     40.19
DEHONGZHOU HONGKANG INV      6.68    01/23/22    CNY     40.19
DEXING INVESTMENT HOLDI      5.99    03/21/23    CNY     60.58
DEXING INVESTMENT HOLDI      5.99    03/21/23    CNY     60.42
DEYANG ECONOMIC DEVELOP      7.90    04/28/21    CNY     28.26
DEYANG ECONOMIC DEVELOP      7.90    04/28/21    CNY     20.22
DONGLING GROUP INC CO        8.00    07/14/22    CNY     40.99
DONGLING GROUP INC CO        8.00    07/14/22    CNY     40.00
DONGTAI UBAN CONSTRUCTI      7.58    04/23/21    CNY     28.48
DONGTAI UBAN CONSTRUCTI      7.58    04/23/21    CNY     20.38
DONGTAI UBAN CONSTRUCTI      8.65    01/13/21    CNY     20.19
DONGYING CITY URBAN ASS      5.57    03/31/22    CNY     41.58
DONGYING CITY URBAN ASS      5.57    03/31/22    CNY     40.49
DONGZHI COUNTY CITY OPE      4.88    06/20/23    CNY     60.41
DONGZHI COUNTY CITY OPE      4.88    06/20/23    CNY     60.05
DUJIANGYAN XINGYAN INVE      6.10    03/12/22    CNY     40.00
DUJIANGYAN XINGYAN INVE      6.10    03/12/22    CNY     38.92
DUNYUN STATE-OWNED ASSE      6.60    12/28/22    CNY     59.16
EASTAR HOLDINGS GROUP C      7.30    10/31/20    CNY     63.00
ENSHI URBAN CONSTRUCTIO      7.50    06/03/21    CNY     27.54
ENSHI URBAN CONSTRUCTIO      7.50    06/03/21    CNY     20.42
EZHOU CITY CONSTRUCTION      7.76    05/15/21    CNY     26.50
EZHOU CITY CONSTRUCTION      6.68    09/19/21    CNY     21.00
EZHOU CITY CONSTRUCTION      6.68    09/19/21    CNY     20.57
EZHOU CITY CONSTRUCTION      7.76    05/15/21    CNY     20.52
FANGCHENGGANG GANGFA HO      8.09    04/16/21    CNY     20.50
FANGCHENGGANG GANGFA HO      8.09    04/16/21    CNY     20.32
FEICHENG CITY ASSETS MA      4.04    03/23/23    CNY     59.83
FEICHENG CITY ASSETS MA      4.04    03/23/23    CNY     59.26
FEIXI COUNTY URBAN & RU      4.45    06/03/23    CNY     61.24
FEIXI COUNTY URBAN & RU      4.45    06/03/23    CNY     59.89
FENG COUNTY ECONOMIC DE      5.18    06/21/23    CNY     59.29
FENG COUNTY ECONOMIC DE      5.18    06/21/23    CNY     58.83
FENGCHENG CITY CONSTRUC      6.49    02/10/22    CNY     44.49
FENGCHENG CITY CONSTRUC      6.49    02/10/22    CNY     40.66
FENGCHENG CITY MODERN I      5.76    12/17/22    CNY     60.00
FENGCHENG CITY MODERN I      5.76    12/17/22    CNY     59.85
FENGXIAN URBAN INVESTME      6.48    03/20/22    CNY     40.42
FENGXIAN URBAN INVESTME      6.48    03/20/22    CNY     40.00
FENGXIAN URBAN INVESTME      4.23    07/13/21    CNY     19.79
FENGXIAN URBAN INVESTME      4.23    07/13/21    CNY     19.75
FENYI CITY CONSTRUCTION      4.54    08/22/23    CNY     78.52
FENYI CITY CONSTRUCTION      4.54    08/22/23    CNY     58.59
FUGU COUNTY STATE-OWNED      8.69    12/16/20    CNY     20.11
FUGU COUNTY STATE-OWNED      8.69    12/16/20    CNY     20.01
FUGUINIAO CO LTD             6.30    04/22/20    CNY     13.00
FUJIAN JINJIANG INDUSTR      7.08    06/27/21    CNY     20.65
FUJIAN JINJIANG INDUSTR      7.08    06/27/21    CNY     20.39
FUJIAN JINJIANG URBAN C      3.35    08/24/23    CNY     59.60
FUJIAN PROVINCE LIANJIA      6.29    04/30/22    CNY     40.93
FUJIAN PROVINCE LIANJIA      6.29    04/30/22    CNY     40.00
FUJIAN ZHANGLONG GROUP       4.99    08/07/22    CNY     40.53
FUJIAN ZHANGLONG GROUP       4.99    08/07/22    CNY     40.00
FUNING URBAN INVESTMENT      7.19    08/15/21    CNY     21.15
FUNING URBAN INVESTMENT      7.19    08/15/21    CNY     20.43
FUQING CITY STATE-OWNED      5.94    11/26/22    CNY     56.19
FUQING CITY STATE-OWNED      6.66    03/01/21    CNY     25.09
FUXIN INFRASTRUCTURE CO      6.18    03/18/22    CNY     40.39
FUXIN INFRASTRUCTURE CO      6.18    03/18/22    CNY     40.04
FUZHOU CHANGLE DISTRICT      4.50    04/11/23    CNY     59.38
FUZHOU CHANGLE DISTRICT      4.50    04/11/23    CNY     58.79
FUZHOU DEVELOPMENT ZONE      3.53    08/25/23    CNY     59.61
FUZHOU LINCHUAN URBAN C      5.68    07/05/23    CNY     60.91
FUZHOU LINCHUAN URBAN C      5.68    07/05/23    CNY     60.74
FUZHOU URBAN AND RURAL       4.89    07/08/22    CNY     40.68
FUZHOU URBAN AND RURAL       5.48    01/26/22    CNY     40.60
FUZHOU URBAN AND RURAL       4.89    07/08/22    CNY     40.55
FUZHOU URBAN AND RURAL       5.48    01/26/22    CNY     40.00
GANSU PROVINCIAL HIGHWA      6.58    09/24/22    CNY     72.89
GANZHOU CITY DEVELOPMEN      5.50    06/16/22    CNY     40.93
GANZHOU CITY DEVELOPMEN      5.50    06/16/22    CNY     40.00
GANZHOU DEVELOPMENT ZON      7.43    02/19/21    CNY     20.21
GANZHOU DEVELOPMENT ZON      7.43    02/19/21    CNY     19.00
GAOMI STATE-OWNED ASSET      4.69    01/26/23    CNY     60.49
GAOMI STATE-OWNED ASSET      4.69    01/26/23    CNY     59.88
GAOYOU CITY CONSTRUCTIO      5.48    09/15/22    CNY     40.75
GAOYOU CITY CONSTRUCTIO      5.48    09/15/22    CNY     40.00
GAOYOU CITY ECONOMY DEV      3.65    09/02/23    CNY     60.00
GAOYOU CITY ECONOMY DEV      3.65    09/02/23    CNY     59.79
GOLMUD INVESTMENT HOLDI      8.70    12/30/20    CNY     20.13
GOLMUD INVESTMENT HOLDI      8.70    12/30/20    CNY     20.00
GONG'AN COUNTY CITY CON      4.30    08/30/23    CNY     59.31
GONG'AN COUNTY CITY CON      4.30    08/30/23    CNY     59.04
GONGQINGCHENG FINANCIAL      5.85    03/25/23    CNY     60.77
GONGQINGCHENG FINANCIAL      5.85    03/25/23    CNY     59.70
GOOCOO INVESTMENT CO LT      8.00    02/01/21    CNY     50.00
GUANGAN DEVELOPMENT AND      6.39    03/24/22    CNY     44.00
GUANGAN DEVELOPMENT AND      6.39    03/24/22    CNY     40.84
GUANGAN ECONOMIC & TECH      5.16    04/14/23    CNY     59.55
GUANGAN ECONOMIC & TECH      5.16    04/14/23    CNY     59.31
GUANGAN ECONOMIC & TECH      7.10    09/22/21    CNY     20.23
GUANGAN ECONOMIC & TECH      7.10    09/22/21    CNY     20.22
GUANGDONG HUIZHOU COMMU      4.16    05/17/23    CNY     60.31
GUANGDONG HUIZHOU COMMU      4.16    05/17/23    CNY     59.98
GUANGRAO COUNTY ECONOMI      3.61    09/08/23    CNY     60.00
GUANGRAO COUNTY ECONOMI      3.61    09/08/23    CNY     59.19
GUANGXI BAISE DEVELOPME      7.27    06/20/21    CNY     20.17
GUANGXI BAISE DEVELOPME      7.27    06/20/21    CNY     20.00
GUANGXI LAIBIN INDUSTRI      5.97    11/26/21    CNY     40.14
GUANGXI LAIBIN INDUSTRI      5.97    11/26/21    CNY     40.00
GUANGXI LIUZHOU DONGCHE      7.40    10/29/20    CNY     21.00
GUANGXI LIUZHOU DONGCHE      7.40    10/29/20    CNY     20.03
GUANGXI QINZHOU LINHAI       7.68    02/20/21    CNY     24.77
GUANGXI QINZHOU LINHAI       7.68    02/20/21    CNY     20.16
GUANGXI URBAN CONSTRUCT      7.59    04/14/21    CNY     23.00
GUANGXI URBAN CONSTRUCT      7.59    04/14/21    CNY     20.29
GUANGYUAN INVESTMENT HO      7.30    04/22/21    CNY     21.15
GUANGYUAN INVESTMENT HO      7.30    04/22/21    CNY     20.29
GUANGYUAN YUANQU CONSTR      4.48    03/10/23    CNY     58.67
GUANGYUAN YUANQU CONSTR      4.48    03/10/23    CNY     58.63
GUANGYUAN YUANQU CONSTR      8.35    08/26/21    CNY     27.00
GUANGYUAN YUANQU CONSTR      8.35    08/26/21    CNY     20.68
GUANGZHOU HUANTOU NANSH      6.38    11/18/24    CNY     73.82
GUANGZHOU HUANTOU NANSH      6.38    11/18/24    CNY     73.28
GUANGZHOU METRO GROUP C      6.45    04/02/24    CNY     62.53
GUANGZHOU METRO GROUP C      6.05    06/03/24    CNY     62.11
GUANGZHOU METRO GROUP C      6.45    04/02/24    CNY     60.00
GUILIN CITY INVESTMENT       6.90    06/13/21    CNY     20.27
GUILIN CITY INVESTMENT       6.90    06/13/21    CNY     20.00
GUILIN ECONOMIC CONSTRU      5.60    04/22/22    CNY     40.63
GUILIN ECONOMIC CONSTRU      5.60    04/22/22    CNY     40.00
GUIRENNIAO CO LTD            7.00    12/03/19    CNY     49.50
GUIXI CITY CONSTRUCTION      4.18    08/18/23    CNY     58.25
GUIXI CITY CONSTRUCTION      4.18    08/18/23    CNY     58.22
GUIYANG BAIYUN CITY CON      4.75    09/13/26    CNY     74.95
GUIYANG BAIYUN CITY CON      4.75    09/13/26    CNY     73.60
GUIYANG BAIYUN INDUSTRY      7.30    03/27/22    CNY     45.00
GUIYANG BAIYUN INDUSTRY      7.30    03/27/22    CNY     40.31
GUIYANG GUANSHANHU DIST      4.87    01/28/23    CNY     59.82
GUIYANG GUANSHANHU DIST      4.87    01/28/23    CNY     59.21
GUIYANG GUANSHANHU DIST      4.48    03/09/23    CNY     59.07
GUIYANG GUANSHANHU DIST      4.48    03/09/23    CNY     58.81
GUIYANG URBAN CONSTRUCT      5.23    12/02/22    CNY     60.25
GUIYANG URBAN CONSTRUCT      5.23    12/02/22    CNY     60.00
GUIZHOU EAST LAKE CITY       5.18    01/06/23    CNY     60.62
GUIZHOU EAST LAKE CITY       5.18    01/06/23    CNY     58.34
GUIZHOU FANJINGSHAN INV      6.95    01/28/22    CNY     40.48
GUIZHOU FANJINGSHAN INV      6.95    01/28/22    CNY     40.00
GUIZHOU GUIAN CONSTRUCT      4.17    10/28/22    CNY     61.00
GUIZHOU GUIAN CONSTRUCT      4.17    10/28/22    CNY     60.22
GUIZHOU GUILONG INDUSTR      7.80    04/28/22    CNY     50.97
GUIZHOU GUILONG INDUSTR      7.80    04/28/22    CNY     50.03
GUIZHOU HONGCAI INVESTM      6.00    06/07/23    CNY     49.02
GUIZHOU HONGCAI INVESTM      6.00    06/07/23    CNY     48.66
GUIZHOU RAILWAY INVESTM      7.50    04/23/24    CNY     63.06
GUIZHOU RAILWAY INVESTM      7.50    04/23/24    CNY     63.05
GUIZHOU RAILWAY INVESTM      7.20    03/27/22    CNY     41.16
GUIZHOU RAILWAY INVESTM      7.20    03/27/22    CNY     41.05
GUIZHOU SHUICHENG CITY       4.98    11/22/23    CNY     74.16
GUIZHOU SHUICHENG CITY       4.98    11/22/23    CNY     73.94
GULIN STATE-OWNED ASSET      4.18    08/04/23    CNY     59.96
GULIN STATE-OWNED ASSET      4.18    08/04/23    CNY     58.69
HAIAN COUNTY DEVELOPMEN      5.45    04/13/23    CNY     59.81
HAIAN COUNTY DEVELOPMEN      5.45    04/13/23    CNY     59.38
HAIAN URBAN DEMOLITION       5.08    11/27/22    CNY     60.90
HAIAN URBAN DEMOLITION       5.08    11/27/22    CNY     60.88
HAICHENG URBAN JINCAI L      5.37    08/10/23    CNY     59.52
HAICHENG URBAN JINCAI L      5.37    08/10/23    CNY     59.05
HAICHENG URBAN JINCAI L      8.17    04/16/21    CNY     20.21
HAICHENG URBAN JINCAI L      8.56    12/19/20    CNY     20.09
HAIFENG MARINE INFRASTR      6.84    04/29/22    CNY     40.45
HAIKOU MEILAN INTERNATI      5.25    09/06/19    USD     52.87
HAIMEN CITY DEVELOPMENT      6.22    04/03/22    CNY     42.20
HAIMEN CITY DEVELOPMENT      6.22    04/03/22    CNY     40.95
HAINING CITY DEVELOPMEN      5.58    10/22/21    CNY     40.49
HAINING CITY JIANSHAN D      6.90    11/04/20    CNY     21.42
HAINING CITY JIANSHAN D      6.90    11/04/20    CNY     20.04
HAIXI STATE-OWNED CAPIT      8.60    01/02/21    CNY     20.30
HAIXI STATE-OWNED CAPIT      8.60    01/02/21    CNY     20.10
HAMI JIANHUI STATE-OWNE      3.90    09/21/23    CNY     59.10
HAMI JIANHUI STATE-OWNE      3.90    09/21/23    CNY     57.84
HANCHUAN CITY HANRONG I      4.25    07/18/23    CNY     59.33
HANCHUAN CITY HANRONG I      4.25    07/18/23    CNY     59.11
HANDAN CONSTRUCTION & I      5.48    05/27/22    CNY     47.20
HANDAN CONSTRUCTION & I      5.48    05/27/22    CNY     40.39
HANGZHOU CITY CONSTRUCT      3.80    03/14/23    CNY     60.01
HANGZHOU CITY CONSTRUCT      3.80    03/14/23    CNY     60.00
HANGZHOU FUYANG CITY CO      7.20    03/19/21    CNY     20.30
HANGZHOU FUYANG CITY CO      7.20    03/19/21    CNY     20.28
HANGZHOU FUYANG DEVELOP      4.76    01/27/23    CNY     59.62
HANGZHOU FUYANG DEVELOP      4.76    01/27/23    CNY     59.12
HANGZHOU FUYANG DEVELOP      7.70    04/28/21    CNY     29.00
HANGZHOU FUYANG DEVELOP      7.70    04/28/21    CNY     20.33
HANGZHOU GONGSHU DISTRI      6.90    07/21/21    CNY     20.46
HANGZHOU GONGSHU DISTRI      6.90    07/21/21    CNY     20.40
HANGZHOU METRO GROUP CO      5.97    09/17/24    CNY     72.77
HANGZHOU METRO GROUP CO      5.97    09/17/24    CNY     62.98
HANGZHOU WEST LAKE INVE      4.30    04/25/23    CNY     60.28
HANGZHOU WEST LAKE INVE      4.30    04/25/23    CNY     59.96
HANGZHOU XIAOSHAN ECO&T      6.90    05/13/21    CNY     20.29
HANGZHOU XIAOSHAN QIANJ      4.00    03/22/23    CNY     60.27
HANGZHOU XIAOSHAN QIANJ      4.00    03/22/23    CNY     60.07
HANGZHOU YUHANG CITY CO      7.00    03/03/21    CNY     20.20
HANGZHOU YUHANG ECONOMI      7.45    03/03/21    CNY     20.75
HANGZHOU YUHANG ECONOMI      7.45    03/03/21    CNY     20.34
HANGZHOU YUHANG TRANSPO      7.19    04/18/21    CNY     21.85
HANGZHOU YUHANG TRANSPO      7.19    04/18/21    CNY     20.29
HANJIANG STATE-OWNED-AS      7.30    11/11/20    CNY     26.60
HANJIANG STATE-OWNED-AS      7.30    11/11/20    CNY     20.05
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 CON      4.10    11/16/21    CNY     60.04
HEBEI ZHONGYUE CITY CON      4.10    11/16/21    CNY     59.75
HEBI INVESTMENTS GROUP       7.88    08/01/21    CNY     20.99
HEBI INVESTMENTS GROUP       7.88    08/01/21    CNY     20.62
HECHI CITY CONSTRUCTION      5.58    11/13/22    CNY     62.42
HECHI CITY CONSTRUCTION      5.58    11/13/22    CNY     60.18
HEFEI CONSTRUCTION INVE      7.20    04/29/24    CNY     63.79
HEFEI XINCHENG STATE-OW      4.13    07/15/23    CNY     59.82
HEFEI XINCHENG STATE-OW      4.13    07/15/23    CNY     59.30
HEILONGJIANG HECHENG CO      5.60    11/11/21    CNY     40.01
HEILONGJIANG HECHENG CO      7.05    06/21/22    CNY     30.40
HEILONGJIANG POST-DISAS      7.10    11/19/20    CNY     25.07
HEILONGJIANG POST-DISAS      7.10    11/19/20    CNY     18.55
HEILONGJIANG POST-DISAS      7.06    11/20/20    CNY      6.81
HEILONGJIANG POST-DISAS      7.06    11/20/20    CNY      6.78
HEISHAN TONGHE ASSET MA      6.79    09/18/22    CNY     39.64
HEISHAN TONGHE ASSET MA      6.79    09/18/22    CNY     39.28
HENGYANG BAISHAZHOU DEV      6.87    08/22/21    CNY     24.50
HENGYANG BAISHAZHOU DEV      6.87    08/22/21    CNY     20.05
HENGYANG COMMUNICATION       4.28    01/21/23    CNY     60.02
HENGYANG COMMUNICATION       4.28    01/21/23    CNY     60.00
HENGYANG XIANGJIANG WAT      7.40    04/23/21    CNY     21.10
HENGYANG XIANGJIANG WAT      7.40    04/23/21    CNY     20.21
HESHAN PUBLIC ASSET MAN      4.08    09/28/23    CNY     58.81
HESHAN PUBLIC ASSET MAN      4.08    09/28/23    CNY     58.06
HETIAN YUXIN STATE-OWNE      4.65    03/28/23    CNY     59.85
HETIAN YUXIN STATE-OWNE      4.65    03/28/23    CNY     59.40
HEYUAN CITY RUNYE INVES      6.20    12/03/21    CNY     45.88
HEYUAN CITY RUNYE INVES      6.20    12/03/21    CNY     40.61
HEZE INVESTMENT DEVELOP      7.14    03/24/21    CNY     20.95
HEZE INVESTMENT DEVELOP      7.14    03/24/21    CNY     20.27
HEZHOU URBAN CONSTRUCTI      8.16    05/16/21    CNY     20.80
HEZHOU URBAN CONSTRUCTI      8.16    05/16/21    CNY     20.39
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 AUTOMOTIVE GROU      6.30    09/14/23    CNY     68.23
HUACHEN AUTOMOTIVE GROU      5.80    06/17/24    CNY     60.78
HUACHEN AUTOMOTIVE GROU      5.80    11/05/23    CNY     59.80
HUACHEN AUTOMOTIVE GROU      6.30    09/14/23    CNY     56.93
HUACHEN AUTOMOTIVE GROU      5.40    09/14/23    CNY     55.80
HUACHEN AUTOMOTIVE GROU      5.80    03/20/24    CNY     54.80
HUACHEN ENERGY CO LTD        6.63    05/18/20    USD     35.57
HUAIAN CITY HUAIAN DIST      4.63    05/03/23    CNY     64.10
HUAIAN CITY HUAIAN DIST      4.63    05/03/23    CNY     60.17
HUAIAN CITY URBAN ASSET      5.70    04/23/22    CNY     41.54
HUAIAN CITY URBAN ASSET      5.70    04/23/22    CNY     40.76
HUAIAN CITY XUYI URBAN       5.10    04/15/23    CNY     59.90
HUAIAN CITY XUYI URBAN       5.10    04/15/23    CNY     59.20
HUAI'AN DEVELOPMENT HOL      7.30    03/10/21    CNY     27.84
HUAI'AN DEVELOPMENT HOL      7.30    03/10/21    CNY     20.24
HUAIAN HONGRI TRANSPORT      5.09    04/20/23    CNY     59.27
HUAIAN HONGRI TRANSPORT      5.09    04/20/23    CNY     58.56
HUAIAN HONGZE DISTRICT       4.37    07/18/23    CNY     58.85
HUAIAN HONGZE DISTRICT       4.37    07/18/23    CNY     58.44
HUAI'AN NEW CITY INVEST      6.95    07/28/21    CNY     27.50
HUAI'AN NEW CITY INVEST      6.95    07/28/21    CNY     20.40
HUAI'AN NEW CITY INVEST      7.45    03/04/21    CNY     20.21
HUAI'AN NEW CITY INVEST      7.45    03/04/21    CNY     20.00
HUAIHUA CITY CONSTRUCTI      4.18    08/31/23    CNY     58.67
HUAIHUA CITY CONSTRUCTI      4.18    08/31/23    CNY     58.64
HUAIHUA CITY INDUSTRIAL      7.70    10/29/20    CNY     20.04
HUAIHUA ECONOMIC DEVELO      6.80    03/26/22    CNY     40.08
HUAIHUA ECONOMIC DEVELO      6.80    03/26/22    CNY     40.00
HUAIHUA TRANSPORTATION       4.96    04/12/23    CNY     59.99
HUAIHUA TRANSPORTATION       4.96    04/12/23    CNY     59.19
HUAINAN URBAN CONSTRUCT      6.79    07/09/21    CNY     21.65
HUAINAN URBAN CONSTRUCT      6.79    07/09/21    CNY     20.43
HUANGGANG CITY CONSTRUC      4.08    01/18/23    CNY     60.21
HUANGGANG CITY CONSTRUC      7.45    03/04/21    CNY     20.30
HUANGGANG CITY CONSTRUC      8.60    12/25/20    CNY     20.27
HUANGGANG CITY CONSTRUC      7.45    03/04/21    CNY     20.23
HUANGSHAN CHENGTOU GROU      5.95    05/06/22    CNY     40.82
HUANGSHAN CHENGTOU GROU      5.95    05/06/22    CNY     40.65
HUANGSHI CIHU HIGH-TECH      4.50    06/08/23    CNY     63.00
HUANGSHI CIHU HIGH-TECH      4.50    06/08/23    CNY     60.20
HUANGSHI CIHU HIGH-TECH      4.97    06/08/23    CNY     60.17
HUANGSHI CIHU HIGH-TECH      4.97    06/08/23    CNY     60.14
HUANGSHI CIHU HIGH-TECH      9.30    01/21/21    CNY     20.25
HUANGSHI CIHU HIGH-TECH      8.70    12/05/20    CNY     20.09
HUANGSHI URBAN CONSTRUC      5.99    04/29/22    CNY     40.87
HUANGSHI URBAN CONSTRUC      5.99    04/29/22    CNY     40.80
HUAWEN MEDIA GROUP           6.00    04/04/21    CNY     66.43
HUBEI PROVINCE CHANGJIA      6.15    04/03/22    CNY     42.40
HUBEI PROVINCE CHANGJIA      6.15    04/03/22    CNY     40.86
HUBEI SUPPLY AND MARKET      6.70    08/23/24    CNY     74.35
HULUDAO INVESTMENT GROU      7.50    10/18/23    CNY     61.60
HULUDAO INVESTMENT GROU      7.05    10/18/20    CNY     20.04
HULUDAO INVESTMENT GROU      7.05    10/18/20    CNY     20.01
HULUNBEIER INVESTMENT C      6.31    04/30/22    CNY     40.42
HULUNBEIER INVESTMENT C      6.31    04/30/22    CNY     40.00
HUNAN CHANGDE DEYUAN IN      6.50    06/16/21    CNY     22.25
HUNAN CHANGDE DEYUAN IN      6.50    06/16/21    CNY     20.33
HUNAN CHENGLINGJI HARBO      4.24    07/21/23    CNY     59.32
HUNAN CHENGLINGJI HARBO      4.24    07/21/23    CNY     58.24
HUNAN CHUZHISHENG HOLDI      5.60    12/18/22    CNY     60.93
HUNAN CHUZHISHENG HOLDI      5.60    12/18/22    CNY     60.34
HUNAN JINYANG INVESTMEN      4.37    01/19/23    CNY     60.03
HUNAN JINYANG INVESTMEN      4.37    01/19/23    CNY     59.65
HUNAN JINYANG INVESTMEN      4.39    04/06/23    CNY     59.59
HUNAN JINYANG INVESTMEN      4.39    04/06/23    CNY     58.72
HUNAN JINYANG INVESTMEN      5.70    11/27/21    CNY     39.42
HUNAN JINYANG INVESTMEN      5.70    11/27/21    CNY     38.60
HUNAN LOUDI ECONOMIC &       4.89    03/30/23    CNY     57.83
HUNAN LOUDI ECONOMIC &       4.89    03/30/23    CNY     56.93
HUNAN LOUDI ECONOMIC &       6.36    03/13/22    CNY     47.00
HUNAN LOUDI ECONOMIC &       6.36    03/13/22    CNY     38.70
HUNAN PROVINCIAL RAILWA      6.09    04/30/25    CNY     72.88
HUNAN PROVINCIAL RAILWA      6.09    04/30/25    CNY     70.00
HUNAN SHAODONG ECO-INDU      6.50    01/11/23    CNY     61.73
HUNAN SHAODONG ECO-INDU      6.50    01/11/23    CNY     59.31
HUNAN TIER GROUP CO LTD      4.20    03/17/23    CNY     58.47
HUNAN TIER GROUP CO LTD      4.20    03/17/23    CNY     58.45
HUNAN TIER GROUP CO LTD      8.00    12/23/20    CNY     22.72
HUNAN TIER GROUP CO LTD      7.10    03/03/21    CNY     20.30
HUNAN TIER GROUP CO LTD      7.10    03/03/21    CNY     20.23
HUNAN TIER GROUP CO LTD      8.00    12/23/20    CNY     20.16
HUNAN XIANGJIANG NEW AR      7.36    03/17/21    CNY     20.33
HUNAN XIANGJIANG NEW AR      7.36    03/17/21    CNY     20.00
HUNAN YOUZHOU INVESTMEN      4.80    07/07/23    CNY     59.92
HUNAN YOUZHOU INVESTMEN      4.80    07/07/23    CNY     59.91
HUZHOU URBAN CONSTRUCTI      6.48    08/28/21    CNY     22.38
HUZHOU URBAN CONSTRUCTI      6.48    08/28/21    CNY     20.20
HUZHOU WUXING NANTAIHU       8.79    01/16/21    CNY     20.29
HUZHOU WUXING NANTAIHU       8.79    01/16/21    CNY     20.10
HUZHOU XISAISHAN DEVELO      7.80    04/29/21    CNY     20.22
HUZHOU XISAISHAN DEVELO      7.80    04/29/21    CNY     20.00
INNER MONGOLIA JINLONG       7.30    11/19/22    CNY     60.27
INNER MONGOLIA JINLONG       7.30    11/19/22    CNY     59.50
INNER MONGOLIA KE'ERQIN      6.45    04/30/22    CNY     40.00
INNER MONGOLIA KE'ERQIN      6.50    03/11/22    CNY     40.00
INNER MONGOLIA KE'ERQIN      6.50    03/11/22    CNY     39.01
INNER MONGOLIA KE'ERQIN      6.45    04/30/22    CNY     38.85
INNER MONGOLIA SHENGXIA      8.18    08/21/21    CNY     24.00
INNER MONGOLIA SHENGXIA      8.18    08/21/21    CNY     20.14
INNER MONGOLIA ZHUNGEER      6.54    12/31/21    CNY     42.10
INNER MONGOLIA ZHUNGEER      6.54    12/31/21    CNY     40.85
JIAN CITY JINGANGSHAN D      4.87    01/27/23    CNY     59.78
JIAN CITY JINGANGSHAN D      4.87    01/27/23    CNY     58.60
JIAN CITY JINGANGSHAN D      7.99    06/03/21    CNY     20.87
JIAN CITY JINGANGSHAN D      7.99    06/03/21    CNY     20.33
JIANAN INVESTMENT HOLDI      4.30    03/08/23    CNY     60.28
JIANAN INVESTMENT HOLDI      4.30    03/08/23    CNY     60.24
JIANAN INVESTMENT HOLDI      3.85    09/05/23    CNY     60.00
JIANAN INVESTMENT HOLDI      3.85    09/05/23    CNY     59.70
JIANAN INVESTMENT HOLDI      3.50    09/05/23    CNY     59.41
JIANAN INVESTMENT HOLDI      6.85    05/23/21    CNY     26.50
JIANAN INVESTMENT HOLDI      6.85    05/23/21    CNY     20.45
JIANGDONG HOLDING GROUP      7.14    04/24/21    CNY     20.26
JIANGMEN NEW HI-TECH IN      6.03    04/22/22    CNY     41.10
JIANGMEN NEW HI-TECH IN      6.03    04/22/22    CNY     40.83
JIANGMEN NEW HI-TECH IN      7.39    11/04/20    CNY     20.04
JIANGSU BEIGU INDUSTRIA      5.80    06/20/23    CNY     60.94
JIANGSU BEIGU INDUSTRIA      5.80    06/20/23    CNY     59.77
JIANGSU DAHANG LINGANG       5.18    09/22/23    CNY     59.08
JIANGSU DAHANG LINGANG       5.18    09/22/23    CNY     58.61
JIANGSU GAOCHUN ECONOMI      3.67    09/23/23    CNY     59.37
JIANGSU GAOCHUN ECONOMI      3.67    09/23/23    CNY     59.25
JIANGSU HAIZHOU DEVELOP      4.67    06/06/23    CNY     61.51
JIANGSU HAIZHOU DEVELOP      4.67    06/06/23    CNY     60.45
JIANGSU HAIZHOUWAN DEVE      5.37    03/29/23    CNY     45.00
JIANGSU HANRUI INVESTME      4.63    04/15/23    CNY     60.51
JIANGSU HANRUI INVESTME      4.63    04/15/23    CNY     60.35
JIANGSU HANRUI INVESTME      5.00    08/31/23    CNY     58.27
JIANGSU HANRUI INVESTME      5.00    08/31/23    CNY     57.91
JIANGSU JINGUAN INVESTM      7.90    04/08/21    CNY     20.80
JIANGSU JINGUAN INVESTM      7.90    04/08/21    CNY     20.35
JIANGSU JINTAN GUOFA IN      4.60    08/22/23    CNY     58.59
JIANGSU JINTAN GUOFA IN      4.60    08/22/23    CNY     58.27
JIANGSU JINTAN GUOFA IN      6.85    05/30/21    CNY     20.23
JIANGSU JINTAN GUOFA IN      6.85    05/30/21    CNY     20.00
JIANGSU JURONG FUDI BIO      7.70    03/21/21    CNY     40.70
JIANGSU JURONG FUDI BIO      7.70    03/21/21    CNY     40.48
JIANGSU NANTONG NO2 CON      8.10    07/10/21    CNY     20.14
JIANGSU RUNCHENG ASSET       7.88    04/16/21    CNY     28.80
JIANGSU RUNCHENG ASSET       7.88    04/16/21    CNY     20.37
JIANGSU RUNQI WANGUO IN      4.14    10/21/21    CNY     59.99
JIANGSU RUNQI WANGUO IN      4.14    10/21/21    CNY     59.18
JIANGSU SUHAI INVESTMEN      7.28    05/29/21    CNY     25.00
JIANGSU SUHAI INVESTMEN      7.28    05/29/21    CNY     20.18
JIANGSU TAICANG PORT DE      7.40    04/28/21    CNY     20.44
JIANGSU TAICANG PORT DE      7.40    04/28/21    CNY     20.00
JIANGSU WUZHONG ECONOMI      5.49    11/19/21    CNY     40.51
JIANGSU WUZHONG ECONOMI      5.49    11/19/21    CNY     40.32
JIANGSU XISHAN ECONOMIC      5.78    07/20/22    CNY     40.89
JIANGSU XISHAN ECONOMIC      5.78    07/20/22    CNY     40.00
JIANGSU YANGKOU PORT CO      6.23    04/10/22    CNY     47.50
JIANGSU YANGKOU PORT CO      6.23    04/10/22    CNY     40.73
JIANGSU YINGZHOU DEVELO      4.33    09/21/23    CNY     58.17
JIANGSU YINGZHOU DEVELO      4.33    09/21/23    CNY     57.86
JIANGSU YIXING ECONOMIC      7.69    04/18/21    CNY     30.19
JIANGSU YIXING ECONOMIC      7.69    04/18/21    CNY     20.40
JIANGSU ZHANGJIAGANG EC      3.95    03/22/23    CNY     60.07
JIANGSU ZHANGJIAGANG EC      3.95    03/22/23    CNY     60.00
JIANGSU ZHUFU INDUSTRIA      4.47    07/20/23    CNY     58.90
JIANGSU ZHUFU INDUSTRIA      4.47    07/20/23    CNY     56.30
JIANGSU ZHUFU INDUSTRIA      4.93    12/29/20    CNY     40.13
JIANGXI HEJI INVESTMENT      5.09    12/17/22    CNY     60.00
JIANGXI HEJI INVESTMENT      5.09    12/17/22    CNY     59.78
JIANGXI HUIHENG PROPERT      4.43    08/30/21    CNY     40.13
JIANGXI HUIHENG PROPERT      4.43    08/30/21    CNY     39.91
JIANGXI LONGHU MOUNTAIN      4.35    03/16/23    CNY     59.53
JIANGXI LONGHU MOUNTAIN      4.35    03/16/23    CNY     59.50
JIANGXI PINGXIANG CHANG      8.18    05/22/21    CNY     29.34
JIANGXI PINGXIANG CHANG      8.18    05/22/21    CNY     20.39
JIANGXI PROVINCE SITONG      8.20    04/18/21    CNY     20.56
JIANGXI PROVINCE SITONG      8.20    04/18/21    CNY     20.33
JIANGYIN LINGANG NEW CI      7.10    11/07/20    CNY     21.00
JIANGYIN LINGANG NEW CI      7.10    11/07/20    CNY     20.04
JIANGYOU HONGFEI INVEST      6.55    09/02/22    CNY     40.61
JIANGYOU HONGFEI INVEST      6.55    09/02/22    CNY     40.31
JIANHU COUNTY DEVELOPME      7.29    09/25/21    CNY     22.75
JIANHU COUNTY DEVELOPME      7.29    09/25/21    CNY     20.21
JIANHU URBAN CONSTRUCTI      3.28    10/13/21    CNY     71.00
JIANHU URBAN CONSTRUCTI      3.28    10/13/21    CNY     69.54
JIANHU URBAN CONSTRUCTI      6.30    06/01/22    CNY     42.86
JIANHU URBAN CONSTRUCTI      6.30    06/01/22    CNY     40.09
JIAXING ECONOMIC&TECHNO      7.89    03/05/21    CNY     21.13
JIAXING ECONOMIC&TECHNO      7.89    03/05/21    CNY     20.37
JIAXING NANHU INVESTMEN      7.45    02/26/21    CNY     21.80
JIAXING NANHU INVESTMEN      7.45    02/26/21    CNY     20.24
JIAXING XIANGJIADANG DE      3.87    09/21/23    CNY     59.94
JIAXING XIANGJIADANG DE      4.13    07/20/23    CNY     59.53
JIAXING XIANGJIADANG DE      4.13    07/20/23    CNY     58.22
JIAXING XIANGJIADANG DE      3.87    09/21/23    CNY     57.78
JIAYU COUNTY URBAN TOWN      5.70    01/19/23    CNY     60.59
JIAYU COUNTY URBAN TOWN      5.70    01/19/23    CNY     60.59
JIAYUGUAN CITY INFRASTR      7.83    09/23/21    CNY     20.32
JIAYUGUAN CITY INFRASTR      7.83    09/23/21    CNY     20.00
JIEYANG CITY INVESTMENT      6.55    08/27/21    CNY     20.31
JILIN CITY CONSTRUCTION      3.80    01/27/23    CNY     59.90
JILIN CITY CONSTRUCTION      3.80    01/27/23    CNY     59.55
JILIN ECONOMIC AND TECH      6.20    04/29/23    CNY     60.33
JILIN ECONOMIC AND TECH      6.20    04/29/23    CNY     59.55
JILIN NORTHEAST SOCK IN      7.50    05/19/22    CNY     71.28
JILIN NORTHEAST SOCK IN      6.80    12/19/21    CNY     70.10
JILIN RAILWAY INVESTMEN      7.18    03/04/21    CNY     20.11
JILIN RAILWAY INVESTMEN      7.18    03/04/21    CNY     19.76
JINAN CITY CONSTRUCTION      6.80    03/20/21    CNY     20.28
JINAN CITY CONSTRUCTION      6.80    03/20/21    CNY     20.20
JINAN CITY LICHENG DIST      5.00    06/23/22    CNY     39.58
JINAN CITY LICHENG DIST      5.00    06/23/22    CNY     39.56
JINAN HI-TECH HOLDING G      6.38    06/19/21    CNY     20.30
JINAN HI-TECH HOLDING G      6.38    06/19/21    CNY     20.30
JINCHANG CONSTRUCTION I      6.79    12/21/22    CNY     60.46
JINCHANG CONSTRUCTION I      6.79    12/21/22    CNY     60.00
JINCHENG STATE-OWNED CA      4.99    11/11/21    CNY     40.36
JINCHENG STATE-OWNED CA      4.99    11/11/21    CNY     40.20
JINGDEZHEN CERAMIC CULT      5.38    11/27/22    CNY     60.24
JINGDEZHEN CERAMIC CULT      5.38    11/27/22    CNY     60.00
JINGHONG STATE-OWNED AS      8.08    05/23/21    CNY     20.23
JINGHONG STATE-OWNED AS      8.08    05/23/21    CNY     20.00
JINGJIANG CITY INVESTME      4.55    03/30/23    CNY     60.08
JINGJIANG CITY INVESTME      4.55    03/30/23    CNY     59.22
JINGJIANG HARBOUR GROUP      7.30    08/05/21    CNY     28.68
JINGJIANG HARBOUR GROUP      7.30    08/05/21    CNY     20.24
JINGMEN CITY CONSTRUCTI      6.85    07/09/22    CNY     30.90
JINGMEN CITY CONSTRUCTI      6.85    07/09/22    CNY     30.74
JINGMEN CITY CONSTRUCTI      7.00    10/17/20    CNY     20.00
JINGMEN CITY CONSTRUCTI      7.00    10/17/20    CNY     18.57
JINGMEN HIGH-TECH DEVEL      4.15    07/28/23    CNY     59.27
JINGMEN HIGH-TECH DEVEL      4.15    07/28/23    CNY     58.33
JINGMEN HIGH-TECH DEVEL      5.48    08/11/22    CNY     40.73
JINGMEN HIGH-TECH DEVEL      5.48    08/11/22    CNY     39.80
JINGSHAN JINGCHENG INVE      4.38    08/29/23    CNY     60.07
JINGSHAN JINGCHENG INVE      4.38    08/29/23    CNY     59.33
JINGZHOU DEVELOPMENT ZO      8.20    12/09/20    CNY     20.14
JINGZHOU DEVELOPMENT ZO      8.20    12/09/20    CNY     20.10
JINGZHOU URBAN CONSTRUC      3.97    03/10/23    CNY     60.14
JINGZHOU URBAN CONSTRUC      3.97    03/10/23    CNY     60.07
JINHU COUNTY STATE-OWNE      4.00    07/26/22    CNY     50.16
JINHU COUNTY STATE-OWNE      4.00    07/26/22    CNY     50.15
JINHU COUNTY STATE-OWNE      7.75    08/25/21    CNY     21.33
JINHU COUNTY STATE-OWNE      7.75    08/25/21    CNY     20.47
JINING CITY SHIZHONG DI      3.52    09/14/23    CNY     59.19
JINING CITY SHIZHONG DI      6.39    01/29/22    CNY     44.44
JINING CITY SHIZHONG DI      6.39    01/29/22    CNY     40.57
JINING HIGH TECH URBAN       6.09    04/30/22    CNY     41.50
JINING HIGH TECH URBAN       6.09    04/30/22    CNY     40.90
JINSHA COUNTY CONSTRUCT      6.01    09/05/23    CNY     58.81
JINSHA COUNTY CONSTRUCT      6.01    09/05/23    CNY     58.81
JINTANG MODERN AGRICULT      5.49    07/14/23    CNY     58.83
JINTANG MODERN AGRICULT      5.49    07/14/23    CNY     57.88
JINZHAI URBAN DEVELOPME      5.90    04/25/23    CNY     61.10
JINZHAI URBAN DEVELOPME      5.90    04/25/23    CNY     60.77
JINZHOU CITY INVESTMENT      6.44    08/18/21    CNY     24.91
JINZHOU CITY INVESTMENT      8.50    12/27/20    CNY     20.60
JINZHOU CITY INVESTMENT      6.44    08/18/21    CNY     20.19
JINZHOU CITY INVESTMENT      8.50    12/27/20    CNY     20.12
JINZHOU HUAXING INVESTM      8.38    02/25/21    CNY     25.00
JINZHOU HUAXING INVESTM      9.10    01/21/21    CNY     20.90
JINZHOU HUAXING INVESTM      8.38    02/25/21    CNY     20.18
JINZHOU HUAXING INVESTM      9.10    01/21/21    CNY     20.16
JISHOU HUATAI STATE OWN      7.18    02/09/22    CNY     42.82
JISHOU HUATAI STATE OWN      7.18    02/09/22    CNY     40.36
JIUJIANG CITY CONSTRUCT      5.50    05/22/22    CNY     40.80
JIUJIANG CITY CONSTRUCT      5.50    05/22/22    CNY     39.55
JIUJIANG LAND INVESTMEN      6.20    03/23/22    CNY     40.77
JIUJIANG LAND INVESTMEN      6.20    03/23/22    CNY     40.36
JIUJIANG LIANXI DISTRIC      4.58    03/30/23    CNY     59.76
JIUJIANG LIANXI DISTRIC      4.58    03/30/23    CNY     59.67
JIUQUAN ECONOMIC DEVELO      7.40    02/26/21    CNY     20.60
JIUQUAN ECONOMIC DEVELO      7.40    02/26/21    CNY     20.24
JIXI STATE OWN ASSET MA      6.87    01/19/22    CNY     40.85
JIXI STATE OWN ASSET MA      6.87    01/19/22    CNY     40.08
KAIFENG URBAN OPERATION      6.35    03/23/22    CNY     40.11
KAIFENG URBAN OPERATION      6.35    03/23/22    CNY     40.11
KAIFU CITY DEVELOPMENT       4.20    01/21/23    CNY     60.08
KAIFU CITY DEVELOPMENT       3.73    08/22/23    CNY     59.49
KAIFU CITY DEVELOPMENT       3.73    08/22/23    CNY     59.42
KAILI GUIZHOU TOWN CONS      5.29    12/17/22    CNY     60.00
KAILI GUIZHOU TOWN CONS      5.29    12/17/22    CNY     58.50
KANGMEI PHARMACEUTICAL       6.33    01/27/22    CNY     36.69
KANGMEI PHARMACEUTICAL       5.47    09/15/22    CNY     21.25
KANGMEI PHARMACEUTICAL       5.29    08/16/22    CNY     21.25
KANGMEI PHARMACEUTICAL       5.20    07/17/22    CNY     21.25
KANGMEI PHARMACEUTICAL       6.80    06/28/21    CNY     21.25
KANGMEI PHARMACEUTICAL       7.00    06/21/21    CNY     21.25
KANGMEI PHARMACEUTICAL       5.50    04/20/21    CNY     21.25
KANGMEI PHARMACEUTICAL       6.10    03/28/21    CNY     21.25
KANGMEI PHARMACEUTICAL       6.28    03/20/21    CNY     21.25
KASHI URBAN CONSTRUCTIO      5.80    07/20/22    CNY     40.76
KASHI URBAN CONSTRUCTIO      5.80    07/20/22    CNY     40.00
KUNMING DONGJUN REAL ES      4.50    11/02/21    CNY     49.50
KUNSHAN COMMUNICATION D      6.95    05/22/21    CNY     25.45
KUNSHAN COMMUNICATION D      6.95    05/22/21    CNY     20.26
KUNSHAN HIGH TECHNOLOGY      7.10    03/26/21    CNY     20.29
KUNSHAN HIGH TECHNOLOGY      7.10    03/26/21    CNY     19.90
LAIWU CITY ECONOMIC DEV      7.08    02/28/21    CNY     20.60
LAIWU CITY ECONOMIC DEV      7.08    02/28/21    CNY     20.19
LANZHOU STATE OWNED ASS      6.32    09/10/21    CNY     20.06
LANZHOU STATE OWNED ASS      6.32    09/10/21    CNY     14.90
LAOHEKOU CITY CONSTRUCT      6.75    08/12/22    CNY     40.47
LAOHEKOU CITY CONSTRUCT      6.75    08/12/22    CNY     40.42
LEIYANG CITY AND RURAL       7.80    04/10/22    CNY     41.38
LEIYANG CITY AND RURAL       7.80    04/10/22    CNY     41.35
LEQING CITY STATE OWNED      5.99    10/20/21    CNY     40.85
LEQING CITY STATE OWNED      5.99    10/20/21    CNY     40.50
LESHAN STATE-OWNED ASSE      5.68    10/22/21    CNY     40.44
LESHAN STATE-OWNED ASSE      5.68    10/22/21    CNY     40.00
LIANYUNGANG TRANSPORT G      5.47    11/17/21    CNY     45.00
LIANYUNGANG TRANSPORT G      5.47    11/17/21    CNY     40.43
LIAOCHENG ANTAI URBAN R      5.16    04/11/23    CNY     60.18
LIAOCHENG ANTAI URBAN R      5.16    04/11/23    CNY     60.10
LIAOCHENG ANTAI URBAN R      4.58    04/11/23    CNY     59.88
LIAOCHENG ANTAI URBAN R      4.58    04/11/23    CNY     59.73
LIAOCHENG XINGYE ECONOM      5.20    04/13/23    CNY     60.81
LIAOCHENG XINGYE ECONOM      5.20    04/13/23    CNY     57.91
LIAONING COASTAL ECONOM      8.90    04/01/21    CNY     11.12
LIAONING COASTAL ECONOM      8.90    04/01/21    CNY      3.63
LIAONING YAODU DEVELOPM      6.50    04/29/23    CNY     60.64
LILING HIGH-TECH INDUST      4.93    01/19/23    CNY     59.36
LILING HIGH-TECH INDUST      4.93    01/19/23    CNY     59.23
LINFEN YAODU DISTRICT I      7.19    03/13/22    CNY     40.56
LINFEN YAODU DISTRICT I      7.19    03/13/22    CNY     40.49
LISHUI CITY CONSTRUCTIO      5.67    08/13/22    CNY     40.95
LISHUI CITY CONSTRUCTIO      5.67    08/13/22    CNY     40.55
LIUPANSHUI DEVELOPMENT       3.74    01/20/23    CNY     59.65
LIUPANSHUI MINSHENG INV      5.08    01/29/23    CNY     59.13
LIUPANSHUI MINSHENG INV      5.08    01/29/23    CNY     59.04
LIUYANG MODERN MANUFACT      4.72    01/19/23    CNY     59.46
LIUYANG MODERN MANUFACT      4.72    01/19/23    CNY     59.09
LIUYANG NEW INDUSTRIAL       4.43    10/23/22    CNY     60.30
LIUYANG NEW INDUSTRIAL       4.43    10/23/22    CNY     60.09
LIUYANG URBAN CONSTRUCT      4.45    05/24/23    CNY     60.65
LIUYANG URBAN CONSTRUCT      4.45    05/24/23    CNY     60.41
LIUYANG URBAN CONSTRUCT      6.98    08/22/21    CNY     20.60
LIUYANG URBAN CONSTRUCT      6.98    08/22/21    CNY     20.50
LIUZHOU CITY INVESTMENT      7.18    12/31/22    CNY     46.09
LIUZHOU DONGTONG INVEST      4.45    07/22/23    CNY     58.04
LIUZHOU DONGTONG INVEST      4.45    07/22/23    CNY     58.02
LIUZHOU INVESTMENT HOLD      4.28    03/08/23    CNY     59.60
LIUZHOU INVESTMENT HOLD      4.28    03/08/23    CNY     59.49
LIUZHOU LONGJIAN INVEST      8.28    04/30/24    CNY     63.05
LIUZHOU LONGJIAN INVEST      8.28    04/30/24    CNY     60.22
LIYANG KUNLUN URBAN CON      5.90    10/24/21    CNY     40.34
LIYANG KUNLUN URBAN CON      5.90    10/24/21    CNY     38.00
LONGHAI STATE-OWNED ASS      6.58    08/15/21    CNY     20.31
LONGYAN RAILWAY CONSTRU      4.98    04/13/23    CNY     59.94
LONGYAN RAILWAY CONSTRU      4.98    04/13/23    CNY     59.19
LOUDI CITY CONSTRUCTION      7.95    04/15/21    CNY     30.31
LOUDI CITY CONSTRUCTION      7.95    04/15/21    CNY     20.37
LOUDI TIDU INVESTMENT D      4.83    01/20/23    CNY     59.81
LOUDI TIDU INVESTMENT D      4.83    01/20/23    CNY     59.69
LOUDI TIDU INVESTMENT D      7.18    08/27/21    CNY     20.30
LOUDI TIDU INVESTMENT D      7.18    08/27/21    CNY     20.00
LOUDI WANBAO NEW DISTRI      5.13    02/01/23    CNY     59.53
LOUDI WANBAO NEW DISTRI      5.13    02/01/23    CNY     59.35
LOUDI WANBAO NEW DISTRI      4.42    08/01/23    CNY     58.51
LOUDI WANBAO NEW DISTRI      4.42    08/01/23    CNY     58.46
LU'AN CITY CONSTRUCTION      5.05    04/26/21    CNY     50.43
LU'AN CITY CONSTRUCTION      3.97    02/22/21    CNY     50.13
LUJIANG CITY CONSTRUCTI      6.70    04/16/22    CNY     40.99
LUJIANG CITY CONSTRUCTI      6.70    04/16/22    CNY     40.00
LUOYANG CITY COUNTRY CO      4.28    04/26/23    CNY     60.42
LUOYANG CITY DEVELOPMEN      4.47    12/02/22    CNY     60.50
LUOYANG CITY DEVELOPMEN      4.47    12/02/22    CNY     60.00
LUZHOU FUYANG INVESTMEN      5.00    08/11/23    CNY     60.10
LUZHOU FUYANG INVESTMEN      5.00    08/11/23    CNY     58.90
LUZHOU XINGLU INVESTMEN      6.41    04/23/25    CNY     74.21
LUZHOU XINGLU INVESTMEN      6.41    04/23/25    CNY     70.00
LUZHOU XINGYANG INVESTM      4.87    01/28/23    CNY     59.68
LUZHOU XINGYANG INVESTM      4.87    01/28/23    CNY     59.66
MA'ANSHAN CIHU HIGH TEC      6.85    09/09/21    CNY     23.00
MA'ANSHAN CIHU HIGH TEC      6.85    09/09/21    CNY     20.40
MAANSHAN ECONOMIC TECHN      6.49    03/06/22    CNY     44.99
MAANSHAN ECONOMIC TECHN      6.49    03/06/22    CNY     40.39
MAANSHAN HUASHAN DISTRI      6.07    04/20/22    CNY     40.99
MAANSHAN SOUTHERN INDUS      4.43    09/02/23    CNY     58.98
MAANSHAN SOUTHERN INDUS      4.43    09/02/23    CNY     58.47
MAANSHAN SOUTHERN INDUS      4.53    07/25/23    CNY     58.32
MAANSHAN SOUTHERN INDUS      4.53    07/25/23    CNY     57.98
MEISHAN ASSET MANAGEMEN      7.84    02/26/21    CNY     20.29
MEISHAN ASSET MANAGEMEN      7.84    02/26/21    CNY     20.24
MEISHAN CITY DONGPO DEV      5.90    06/30/23    CNY     59.18
MEISHAN CITY DONGPO DEV      5.90    06/30/23    CNY     58.90
MEISHAN HONGDA CONSTRUC      4.18    03/28/23    CNY     59.28
MEISHAN HONGDA CONSTRUC      4.18    03/28/23    CNY     59.11
MEIZHOU CITY XIN JIN YE      6.02    04/22/22    CNY     45.32
MEIZHOU CITY XIN JIN YE      6.02    04/22/22    CNY     40.74
MEIZHOU MEI COUNTY DIST      5.00    12/30/22    CNY     60.38
MEIZHOU MEI COUNTY DIST      5.00    12/30/22    CNY     60.00
MUDANJIANG AREA URBAN D      6.48    06/30/22    CNY     45.00
MUDANJIANG AREA URBAN D      6.48    06/30/22    CNY     41.17
MUDANJIANG STATE-OWNED       7.70    04/14/21    CNY     20.18
MUDANJIANG STATE-OWNED       7.70    04/14/21    CNY     20.17
MUNICIPALITY OF SHENZHE      3.00    03/29/22    CNY     60.00
MUNICIPALITY OF SHENZHE      3.00    03/29/22    CNY     60.00
NANCHANG ECONOMY TECHNO      3.83    09/22/23    CNY     59.95
NANCHANG ECONOMY TECHNO      3.83    09/22/23    CNY     59.50
NANCHONG AIRPORT INVEST      6.80    01/26/22    CNY     40.25
NANCHONG AIRPORT INVEST      6.80    01/26/22    CNY     40.24
NANCHONG ECONOMIC DEVEL      8.28    04/21/21    CNY     31.20
NANCHONG ECONOMIC DEVEL      8.28    04/21/21    CNY     20.36
NANJING BAIXIA STATE-OW      3.98    03/29/23    CNY     60.18
NANJING BAIXIA STATE-OW      3.98    03/29/23    CNY     60.15
NANJING HEXI NEW TOWN A      3.47    06/17/21    CNY     40.07
NANJING HEXI NEW TOWN A      3.20    07/22/21    CNY     39.90
NANJING JIANGNING ECONO      7.94    04/14/24    CNY     64.99
NANJING JIANGNING ECONO      7.94    04/14/24    CNY     64.30
NANJING JIANYE SCIENCE       4.37    06/24/23    CNY     60.44
NANJING JIANYE SCIENCE       4.37    06/24/23    CNY     60.14
NANJING LISHUI ECONOMIC      6.27    09/22/21    CNY     21.29
NANJING LISHUI ECONOMIC      6.27    09/22/21    CNY     20.48
NANJING LISHUI URBAN CO      4.97    04/28/23    CNY     60.94
NANJING LISHUI URBAN CO      4.97    04/28/23    CNY     60.80
NANJING METRO GROUP CO       3.29    08/29/23    CNY     59.71
NANJING QIXIA STATE-OWN      4.10    06/24/23    CNY     60.24
NANJING QIXIA STATE-OWN      4.10    06/24/23    CNY     60.15
NANJING STATE OWNED ASS      5.60    03/06/23    CNY     46.19
NANJING STATE OWNED ASS      5.60    03/06/23    CNY     45.91
NANJING TANGSHAN CONSTR      6.80    06/30/21    CNY     26.80
NANJING TANGSHAN CONSTR      6.80    06/30/21    CNY     20.45
NANNING HI-TECH INDUSTR      4.28    03/25/23    CNY     58.93
NANNING HI-TECH INDUSTR      4.28    03/25/23    CNY     55.20
NANNING LVGANG CONSTRUC      7.30    06/27/21    CNY     24.80
NANNING LVGANG CONSTRUC      7.30    06/27/21    CNY     20.29
NANPING CITY WUYI NEW D      4.96    09/28/22    CNY     40.60
NANPING CITY WUYI NEW D      4.96    09/28/22    CNY     40.34
NANTONG CHONGCHUAN URBA      5.70    07/21/22    CNY     71.73
NANTONG CHONGCHUAN URBA      5.70    07/21/22    CNY     70.00
NANTONG CHONGCHUAN URBA      7.15    04/18/21    CNY     25.40
NANTONG CHONGCHUAN URBA      7.15    04/18/21    CNY     20.33
NANTONG CITY GANGZHA DI      3.80    09/06/21    CNY     40.01
NANTONG CITY GANGZHA DI      3.80    09/06/21    CNY     39.68
NANTONG CITY TONGZHOU D      3.75    07/07/23    CNY     59.51
NANTONG HIGH TECHNOLOGY      5.00    10/19/22    CNY     61.52
NANTONG HIGH TECHNOLOGY      5.00    10/19/22    CNY     60.78
NANTONG SUTONG SCIENCE       6.20    03/18/22    CNY     40.84
NANTONG SUTONG SCIENCE       6.20    03/18/22    CNY     40.00
NANYANG HIGH-TECH DISTR      6.45    04/29/23    CNY     61.46
NANYANG HIGH-TECH DISTR      6.45    04/29/23    CNY     60.78
NANYANG INVESTMENT GROU      7.05    10/24/20    CNY     20.17
NANYANG INVESTMENT GROU      7.05    10/24/20    CNY     20.03
NEIJIANG CITY XINGYUAN       4.28    08/16/23    CNY     58.37
NEIJIANG CITY XINGYUAN       4.28    08/16/23    CNY     57.59
NEIJIANG INVESTMENT HOL      7.99    04/24/21    CNY     28.53
NEIJIANG INVESTMENT HOL      7.99    04/24/21    CNY     20.16
NEIJIANG STATE-OWNED AS      6.20    04/12/23    CNY     59.15
NEIJIANG STATE-OWNED AS      6.20    04/12/23    CNY     58.71
NEIJINAG CONSTRUCTION E      5.03    12/25/22    CNY     59.64
NEIJINAG CONSTRUCTION E      5.03    12/25/22    CNY     56.36
NEOGLORY HOLDING GROUP       8.10    11/23/18    CNY     72.00
NEOGLORY HOLDING GROUP       8.00    09/25/20    CNY     60.00
NEOGLORY HOLDING GROUP       8.00    10/22/20    CNY     56.00
NINGBO CITY HAISHU GUAN      7.75    03/06/21    CNY     26.30
NINGBO CITY HAISHU GUAN      7.75    03/06/21    CNY     20.26
NINGBO CITY ZHENHAI INV      5.85    12/04/21    CNY     40.47
NINGBO CITY ZHENHAI INV      5.85    12/04/21    CNY     40.46
NINGBO ECONOMIC & TECHN      7.09    04/21/21    CNY     29.00
NINGBO ECONOMIC & TECHN      7.09    04/21/21    CNY     20.32
NINGBO MEISHAN ISLAND D      6.27    03/23/22    CNY     48.29
NINGBO MEISHAN ISLAND D      6.27    03/23/22    CNY     40.91
NINGGUO CITY STATE OWNE      8.70    04/28/21    CNY     20.56
NINGGUO CITY STATE OWNE      8.70    04/28/21    CNY     20.00
NINGHAI COUNTY URBAN IN      8.00    01/02/21    CNY     25.00
NINGHAI COUNTY URBAN IN      7.99    04/16/21    CNY     20.70
NINGHAI COUNTY URBAN IN      7.99    04/16/21    CNY     20.48
NINGHAI COUNTY URBAN IN      8.00    01/02/21    CNY     20.18
NINGXIANG CITY CONSTRUC      6.70    01/20/22    CNY     40.76
NINGXIANG CITY CONSTRUC      6.70    01/20/22    CNY     40.20
NINGXIANG ECONOMIC TECH      3.87    01/27/23    CNY     59.98
NINGXIANG ECONOMIC TECH      3.87    01/27/23    CNY     59.50
NINGXIANG ECONOMIC TECH      8.20    04/16/21    CNY     20.36
NINGXIANG STATE-OWNED A      4.89    06/03/23    CNY     59.62
NINGXIANG STATE-OWNED A      4.89    06/03/23    CNY     58.98
ONE BELT ONE ROAD JIANG      4.70    07/15/23    CNY     60.36
ONE BELT ONE ROAD JIANG      4.70    07/15/23    CNY     60.27
PANJIN CITY SHUANGTAIZI      7.25    01/22/22    CNY     40.76
PANJIN CITY SHUANGTAIZI      7.25    01/22/22    CNY     40.28
PANSHAN COUNTY STATE-OW      7.48    01/21/22    CNY     40.50
PANSHAN COUNTY STATE-OW      7.48    01/21/22    CNY     40.50
PANZHIHUA STATE OWNED A      8.18    03/13/22    CNY     41.30
PANZHIHUA STATE OWNED A      8.18    03/13/22    CNY     41.20
PANZHIHUA STATE OWNED A      7.60    03/05/21    CNY     20.32
PANZHIHUA STATE OWNED A      7.60    03/05/21    CNY     20.19
PEIXIAN CITY INVESTMENT      5.20    11/10/22    CNY     60.00
PEIXIAN CITY INVESTMENT      5.20    11/10/22    CNY     59.91
PEKING UNIVERSITY FOUND      6.30    03/04/24    CNY     11.00
PEKING UNIVERSITY FOUND      6.50    11/16/23    CNY     11.00
PEKING UNIVERSITY FOUND      6.68    08/09/23    CNY     11.00
PEKING UNIVERSITY FOUND      5.80    01/28/22    CNY     11.00
PEKING UNIVERSITY FOUND      5.99    11/02/21    CNY     11.00
PEKING UNIVERSITY FOUND      6.10    08/22/21    CNY     11.00
PEKING UNIVERSITY FOUND      4.80    07/26/21    CNY     11.00
PEKING UNIVERSITY FOUND      6.30    09/12/20    CNY     11.00
PEKING UNIVERSITY FOUND      6.15    07/23/20    CNY     11.00
PEKING UNIVERSITY FOUND      6.20    05/31/20    CNY     11.00
PINGHU CITY INVESTMENT       5.13    04/29/23    CNY     60.85
PINGHU CITY INVESTMENT       5.13    04/29/23    CNY     60.75
PINGHU ECONOMIC DEVELOP      7.99    04/17/21    CNY     20.22
PINGLIANG CULTURAL & TO      6.85    11/30/22    CNY     60.54
PINGLIANG CULTURAL & TO      6.85    11/30/22    CNY     60.00
PINGTAN COMPREHENSIVE P      3.92    01/29/23    CNY     60.15
PINGXIANG CHANGXING INV      5.26    04/11/23    CNY     59.48
PINGXIANG CHANGXING INV      5.26    04/11/23    CNY     59.44
PINGXIANG HUIFENG INVES      6.60    01/26/22    CNY     40.54
PINGXIANG HUIFENG INVES      6.60    01/26/22    CNY     40.12
PINGYANG STATE-OWNED AS      4.97    01/08/23    CNY     60.18
PINGYANG STATE-OWNED AS      4.97    01/08/23    CNY     60.00
PIZHOU CITY HENGRUN INV      6.46    12/05/21    CNY     42.46
PIZHOU CITY HENGRUN INV      6.46    12/05/21    CNY     40.33
PIZHOU ECONOMIC DEVELOP      5.00    10/29/22    CNY     60.00
PIZHOU ECONOMIC DEVELOP      5.00    10/29/22    CNY     59.54
PIZHOU RUNCAI ASSET MAN      5.90    12/18/20    CNY     50.09
PUTIAN HIGH TECHNOLOGY       5.90    05/03/22    CNY     49.91
PUTIAN HIGH TECHNOLOGY       5.90    05/03/22    CNY     49.72
PUYANG INVESTMENT GROUP      8.00    12/11/20    CNY     20.13
PUYANG INVESTMENT GROUP      8.00    12/11/20    CNY     20.00
QIANAN URBAN CONSTRUCTI      7.19    08/11/21    CNY     20.52
QIANAN URBAN CONSTRUCTI      8.88    01/23/21    CNY     20.23
QIANAN URBAN CONSTRUCTI      7.19    08/11/21    CNY     20.00
QIANAN URBAN CONSTRUCTI      8.88    01/23/21    CNY     20.00
QIANAN XINGYUAN WATER I      6.25    04/22/22    CNY     46.90
QIANAN XINGYUAN WATER I      6.25    04/22/22    CNY     40.82
QIANDONGNAN TRANSPORTAT      5.79    12/21/22    CNY     57.68
QIANDONGNAN TRANSPORTAT      5.79    12/21/22    CNY     57.23
QIANDONGNANZHOU KAIHONG      5.30    09/22/26    CNY     74.47
QIANDONGNANZHOU KAIHONG      5.30    09/22/26    CNY     68.02
QIANJIANG URBAN CONSTRU      5.19    12/21/22    CNY     61.28
QIANJIANG URBAN CONSTRU      5.19    12/21/22    CNY     60.00
QIANJIANG URBAN CONSTRU      8.38    04/22/21    CNY     20.52
QIANJIANG URBAN CONSTRU      8.38    04/22/21    CNY     20.39
QIANNANZHOU INVESTMENT       6.43    03/09/22    CNY     38.65
QIANNANZHOU INVESTMENT       6.43    03/09/22    CNY     38.50
QIANXINAN AUTONOMOUS RE      5.90    06/22/23    CNY     59.48
QIANXINAN AUTONOMOUS RE      5.90    06/22/23    CNY     59.12
QIDONG COMMUNICATIONS I      4.00    03/18/23    CNY     59.94
QIDONG STATE-OWNED ASSE      4.00    03/09/23    CNY     60.16
QIDONG STATE-OWNED ASSE      4.00    03/09/23    CNY     59.30
QIDONG STATE-OWNED ASSE      7.30    11/20/22    CNY     46.48
QIDONG URBAN CONSTRUCTI      8.20    04/04/21    CNY     20.46
QIDONG URBAN CONSTRUCTI      7.90    04/28/21    CNY     20.34
QIDONG URBAN CONSTRUCTI      8.20    04/04/21    CNY     20.33
QIHE CITY OPERATION CON      5.10    03/07/23    CNY     60.14
QIHE CITY OPERATION CON      5.10    03/07/23    CNY     60.13
QINGDAO CHANGYANG INVES      3.73    09/12/23    CNY     59.70
QINGDAO CHANGYANG INVES      3.73    09/12/23    CNY     59.69
QINGDAO CONSON DEVELOPM      6.40    12/12/22    CNY     46.33
QINGDAO CONSON DEVELOPM      6.40    12/12/22    CNY     46.30
QINGDAO HICREAT DEVELOP      6.88    04/25/21    CNY     21.13
QINGDAO HICREAT DEVELOP      6.88    04/25/21    CNY     20.21
QINGDAO JIAOZHOU BAY DE      6.33    09/18/21    CNY     21.30
QINGDAO JIAOZHOU BAY DE      6.33    09/18/21    CNY     20.51
QINGDAO JIMO CITY TOURI      5.47    11/17/21    CNY     41.00
QINGDAO JIMO CITY TOURI      5.47    11/17/21    CNY     40.37
QINGDAO LAIXI CITY ASSE      7.50    03/06/21    CNY     28.79
QINGDAO LAIXI CITY ASSE      7.50    03/06/21    CNY     20.18
QINGDAO OCEAN INVESTMEN      4.36    05/12/23    CNY     60.61
QINGDAO OCEAN INVESTMEN      4.36    05/12/23    CNY     59.56
QINGDAO WEST COAST DEVE      4.26    06/06/23    CNY     60.45
QINGDAO WEST COAST DEVE      4.26    06/06/23    CNY     59.94
QINGHAI PROVINCIAL INVE      6.40    07/10/21    USD     35.56
QINGHAI PROVINCIAL INVE      7.88    03/22/21    USD     34.93
QINGHAI STATE-OWNED ASS      5.90    12/17/22    CNY     45.00
QINGHAI STATE-OWNED ASS      5.40    05/21/23    CNY     42.50
QINGYANG CITY ECONOMIC       7.98    04/16/21    CNY     20.21
QINGYANG CITY ECONOMIC       7.98    04/16/21    CNY     20.20
QINGYUAN TRANSPORTATION      8.20    12/19/20    CNY     20.14
QINGZHOU HONGYUAN PUBLI      7.59    05/29/21    CNY     20.29
QINHUANGDAO CITY DEVELO      4.69    04/14/23    CNY     60.59
QINHUANGDAO CITY DEVELO      4.69    04/14/23    CNY     58.97
QINHUANGDAO DEVELOPMENT      4.07    08/26/23    CNY     58.09
QINHUANGDAO DEVELOPMENT      4.07    08/26/23    CNY     57.69
QINHUANGDAO DEVELOPMENT      8.45    04/18/21    CNY     21.28
QINHUANGDAO DEVELOPMENT      8.45    04/18/21    CNY     20.26
QINHUANGDAO DEVELOPMENT      8.00    12/17/20    CNY     20.08
QINHUANGDAO DEVELOPMENT      8.00    12/17/20    CNY     20.00
QINZHOU BINHAI NEW CITY      6.99    07/07/21    CNY     20.28
QINZHOU BINHAI NEW CITY      6.99    07/07/21    CNY     20.00
QIONGLAI CITY CONSTRUCT      6.98    03/25/22    CNY     40.80
QIONGLAI CITY CONSTRUCT      6.98    03/25/22    CNY     40.72
QUANJIAO URBAN INFRASTR      5.10    05/18/23    CNY     59.28
QUANJIAO URBAN INFRASTR      5.10    05/18/23    CNY     59.26
QUJING CITY QILIN DISTR      5.37    11/26/22    CNY     61.95
QUJING CITY QILIN DISTR      5.37    11/26/22    CNY     59.40
QUJING DEVELOPMENT INVE      7.48    04/28/21    CNY     22.55
QUJING DEVELOPMENT INVE      7.48    04/28/21    CNY     20.21
QUJING ECO TECH DEVELOP      5.75    06/01/23    CNY     59.88
QUJING ECO TECH DEVELOP      5.75    06/01/23    CNY     59.75
QUJING ECO TECH DEVELOP      7.48    07/21/21    CNY     20.38
QUZHOU STATE OWNED ASSE      7.20    04/21/21    CNY     23.42
QUZHOU STATE OWNED ASSE      7.20    04/21/21    CNY     20.42
RENHUAI CITY DEVELOPMEN      5.12    04/14/23    CNY     59.04
RENHUAI CITY DEVELOPMEN      5.12    04/14/23    CNY     59.01
RENHUAI CITY DEVELOPMEN      8.09    05/16/21    CNY     20.49
RENHUAI CITY DEVELOPMEN      8.09    05/16/21    CNY     20.47
RENQIU CONSTRUCTION INV      5.68    11/18/22    CNY     60.64
RENQIU CONSTRUCTION INV      5.68    11/18/22    CNY     58.22
RENSHOU DEVELOPMENT OF       6.42    12/22/22    CNY     61.05
RENSHOU DEVELOPMENT OF       6.42    12/22/22    CNY     60.00
REWARD SCIENCE AND TECH      6.40    03/03/22    CNY     70.00
REWARD SCIENCE AND TECH      5.53    07/05/21    CNY     29.10
RIGHT WAY REAL ESTATE D      8.00    07/15/21    CNY     43.89
RIZHAO CITY CONSTRUCTIO      3.98    12/07/22    CNY     60.46
RIZHAO CITY CONSTRUCTIO      3.98    12/07/22    CNY     59.60
RUDONG COUNTY DONGTAI S      6.99    06/20/21    CNY     25.90
RUDONG COUNTY DONGTAI S      6.99    06/20/21    CNY     20.40
RUDONG COUNTY JINXIN TR      3.80    07/26/23    CNY     59.82
RUDONG COUNTY JINXIN TR      3.80    07/26/23    CNY     59.79
RUDONG COUNTY JINXIN TR      4.57    07/26/23    CNY     59.75
RUDONG COUNTY JINXIN TR      4.57    07/26/23    CNY     59.19
RUDONG COUNTY JINXIN TR      8.08    03/03/21    CNY     24.03
RUDONG COUNTY JINXIN TR      8.08    03/03/21    CNY     20.25
RUDONG COUNTY KAITAI CI      4.57    01/08/23    CNY     60.31
RUDONG NEW WORLD INVEST      4.37    07/18/23    CNY     59.49
RUDONG NEW WORLD INVEST      4.37    07/18/23    CNY     58.46
RUGAO COMMUNICATIONS CO      3.74    03/23/23    CNY     59.94
RUGAO COMMUNICATIONS CO      3.74    03/23/23    CNY     59.80
RUGAO ECONOMIC & TRADE       3.95    03/24/23    CNY     60.07
RUGAO ECONOMIC & TRADE       3.95    03/24/23    CNY     59.97
RUGAO ECONOMIC & TRADE       8.30    01/22/21    CNY     29.00
RUGAO ECONOMIC & TRADE       8.30    01/22/21    CNY     20.24
RUGAO YANJIANG DEVELOPM      8.60    01/24/21    CNY     20.93
RUGAO YANJIANG DEVELOPM      8.60    01/24/21    CNY     20.25
RUIAN STATE OWNED ASSET      4.56    01/27/23    CNY     60.66
RUIAN STATE OWNED ASSET      4.56    01/27/23    CNY     58.96
RUICHANG CITY INVESTMEN      5.50    06/17/23    CNY     61.17
RUICHANG CITY INVESTMEN      5.50    06/17/23    CNY     61.16
RUICHANG CITY INVESTMEN      5.68    03/25/23    CNY     61.15
RUICHANG CITY INVESTMEN      5.68    03/25/23    CNY     61.14
RUIJIN URBAN DEVELOPMEN      4.13    09/06/23    CNY     58.77
RUIJIN URBAN DEVELOPMEN      4.13    09/06/23    CNY     58.68
RUZHOU CITY XINYUAN INV      4.43    09/26/23    CNY     56.27
RUZHOU CITY XINYUAN INV      4.43    09/26/23    CNY     55.96
RUZHOU CITY XINYUAN INV      6.30    09/16/21    CNY     25.34
SANMEN COUNTY STATE-OWN      6.80    03/18/22    CNY     40.96
SANMEN COUNTY STATE-OWN      6.85    10/29/21    CNY     40.62
SANMEN COUNTY STATE-OWN      6.80    03/18/22    CNY     40.00
SANMEN COUNTY STATE-OWN      6.85    10/29/21    CNY     40.00
SANMING TRANSPORTATION       3.68    03/29/23    CNY     59.76
SANMING TRANSPORTATION       3.68    03/29/23    CNY     59.51
SHAANXI ANKANG HIGH TEC      8.78    09/17/21    CNY     27.00
SHAANXI ANKANG HIGH TEC      8.78    09/17/21    CNY     20.64
SHAANXI XIXIAN NEW AREA      6.85    08/15/21    CNY     25.50
SHAANXI XIXIAN NEW AREA      6.85    08/15/21    CNY     20.47
SHAANXI XIXIAN NEW AREA      6.89    01/05/22    CNY     43.10
SHAANXI XIXIAN NEW AREA      6.89    01/05/22    CNY     40.57
SHAANXI XIXIAN NEW AREA      5.15    11/27/22    CNY     61.01
SHAANXI XIXIAN NEW AREA      5.15    11/27/22    CNY     60.63
SHANDONG BORUN INDUSTRI      6.50    11/02/21    CNY     66.21
SHANDONG BOXING COUNTY       8.00    12/22/21    CNY     41.95
SHANDONG BOXING COUNTY       8.00    12/22/21    CNY     40.93
SHANDONG CENTURY SUNSHI      8.19    07/21/21    CNY     20.63
SHANDONG CENTURY SUNSHI      8.19    07/21/21    CNY     20.62
SHANDONG FUYU CHEMICAL       7.70    09/18/22    CNY     70.00
SHANDONG GAOCHUANG CONS      6.05    06/18/22    CNY     42.45
SHANDONG GAOCHUANG CONS      6.05    06/18/22    CNY     40.75
SHANDONG HONGHE HOLDING      8.50    06/23/21    CNY     24.00
SHANDONG HONGHE HOLDING      8.50    06/23/21    CNY     20.10
SHANDONG JINMAO TEXTILE      8.00    09/25/20    CNY     35.84
SHANDONG JINMAO TEXTILE      6.97    04/01/21    CNY     20.70
SHANDONG RENCHENG RONGX      7.30    10/18/20    CNY     23.40
SHANDONG RENCHENG RONGX      7.30    10/18/20    CNY     20.01
SHANDONG RUYI TECHNOLOG      7.90    09/18/23    CNY     52.10
SHANDONG SNTON GROUP CO      6.20    05/30/21    CNY      9.50
SHANDONG SNTON GROUP CO      5.18    09/08/21    CNY      8.52
SHANDONG TAIYANG INDUST      5.97    03/02/21    CNY     42.86
SHANDONG TENGJIAN INVES      6.00    06/08/22    CNY     40.45
SHANDONG TENGJIAN INVES      6.00    06/08/22    CNY     40.00
SHANDONG WANTONG PETROL      7.97    11/29/21    CNY      6.45
SHANGHAI CAOHEJING HI-T      7.24    04/09/21    CNY     20.32
SHANGHAI CAOHEJING HI-T      7.24    04/09/21    CNY     20.31
SHANGHAI JIADING ROAD C      6.80    04/23/21    CNY     20.75
SHANGHAI JIADING ROAD C      6.80    04/23/21    CNY     20.33
SHANGHAI LAKE DIANSHAN       5.95    01/30/21    CNY     25.13
SHANGHAI LAKE DIANSHAN       5.95    01/30/21    CNY     25.10
SHANGHAI MINHANG URBAN       5.63    04/20/22    CNY     40.79
SHANGHAI MINHANG URBAN       5.63    04/20/22    CNY     40.78
SHANGHAI MUNICIPAL INVE      4.80    11/05/24    CNY     71.38
SHANGHAI NANHUI URBAN C      6.04    08/20/21    CNY     20.44
SHANGHAI NANHUI URBAN C      6.04    08/20/21    CNY     20.30
SHANGHAI PUTAILAI NEW E      5.50    03/19/21    CNY     66.67
SHANGHAI URBAN CONSTRUC      3.50    01/06/23    CNY     61.07
SHANGHAI URBAN CONSTRUC      3.50    01/06/23    CNY     59.50
SHANGRAO CITY STATE-OWN      4.65    01/29/23    CNY     60.58
SHANGRAO CITY STATE-OWN      4.65    01/29/23    CNY     60.28
SHANTOU CITY CONSTRUCTI      8.57    03/23/22    CNY     31.42
SHANTOU CITY CONSTRUCTI      8.57    03/23/22    CNY     31.40
SHANTOU INVESTMENT HOLD      7.99    03/04/24    CNY     64.40
SHANTOU INVESTMENT HOLD      7.99    03/04/24    CNY     64.10
SHANXI INTERNATIONAL EL      5.88    05/24/22    CNY     61.00
SHANXI XIANG KUANG GROU      8.80    02/11/22    CNY     72.44
SHANXI XIANG KUANG GROU      8.80    02/11/22    CNY     54.50
SHAOWU URBAN CONSTRUCTI      5.88    09/11/22    CNY     43.39
SHAOWU URBAN CONSTRUCTI      5.88    09/11/22    CNY     40.15
SHAOXING CHENGZHONGCUN       6.09    04/27/22    CNY     40.83
SHAOXING CHENGZHONGCUN       6.09    04/27/22    CNY     40.30
SHAOXING CITY INVESTMEN      5.75    04/17/22    CNY     48.00
SHAOXING CITY INVESTMEN      5.75    04/17/22    CNY     40.88
SHAOXING CITY KEQIAO DI      6.40    08/20/21    CNY     20.48
SHAOXING CITY KEQIAO DI      6.40    08/20/21    CNY     20.35
SHAOXING JINGHU NEW DIS      6.13    04/30/22    CNY     40.76
SHAOXING JINGHU NEW DIS      6.13    04/30/22    CNY     40.70
SHAOXING KEQIAO CITY CO      3.64    09/19/23    CNY     59.28
SHAOXING KEQIAO CITY CO      3.64    09/19/23    CNY     58.86
SHAOXING KEQIAO ECONOMI      7.00    12/10/21    CNY     40.89
SHAOXING KEQIAO ECONOMI      7.00    12/10/21    CNY     40.00
SHAOXING KEYAN CONSTRUC      6.28    03/24/22    CNY     40.84
SHAOXING KEYAN CONSTRUC      6.28    03/24/22    CNY     40.00
SHAOXING PAOJIANG INDUS      6.98    05/29/21    CNY     23.90
SHAOXING PAOJIANG INDUS      6.98    05/29/21    CNY     20.37
SHAOXING SHANGYU ECONOM      4.76    04/11/23    CNY     60.93
SHAOXING SHANGYU ECONOM      4.76    04/11/23    CNY     60.27
SHAOXING SHANGYU HANGZH      6.95    10/11/20    CNY     20.55
SHAOXING SHANGYU HANGZH      6.95    10/11/20    CNY     20.00
SHAOXING SHANGYU URBAN       6.80    08/07/21    CNY     21.15
SHAOXING SHANGYU URBAN       6.80    08/07/21    CNY     20.56
SHAOYANG CITY CONSTRUCT      8.58    01/17/21    CNY     20.30
SHAOYANG CITY CONSTRUCT      8.58    01/17/21    CNY     20.17
SHAOYANG DULIANG INVEST      5.50    04/13/23    CNY     59.65
SHAOYANG DULIANG INVEST      5.50    04/13/23    CNY     58.65
SHENGZHOU INVESTMENT HO      7.60    07/17/21    CNY     20.60
SHENGZHOU INVESTMENT HO      7.60    07/17/21    CNY     20.59
SHENMU CITY STATE-OWNED      7.28    06/23/21    CNY     20.60
SHENMU CITY STATE-OWNED      7.28    06/23/21    CNY     20.36
SHENYANG DADONG STATE-O      6.05    03/20/22    CNY     40.55
SHENYANG DADONG STATE-O      6.05    03/20/22    CNY     40.00
SHENYANG ECONOMIC AFFOR      7.17    04/29/22    CNY     40.05
SHENYANG ECONOMIC AFFOR      7.17    04/29/22    CNY     31.87
SHENYANG TIEXI STATE-OW      6.00    01/14/22    CNY     47.50
SHENYANG TIEXI STATE-OW      6.00    01/14/22    CNY     40.47
SHENZHEN METRO GROUP CO      6.75    01/24/24    CNY     63.07
SHENZHEN METRO GROUP CO      5.40    03/25/23    CNY     46.15
SHENZHEN METRO GROUP CO      5.40    03/25/23    CNY     46.03
SHIJIAZHUANG HUTUO NEW       5.28    12/24/25    CNY     62.70
SHIJIAZHUANG HUTUO NEW       5.28    12/24/25    CNY     62.50
SHIJIAZHUANG STATE-OWNE      5.75    04/09/22    CNY     47.20
SHIJIAZHUANG STATE-OWNE      5.75    04/09/22    CNY     40.78
SHIJIAZHUANG URBAN CONS      6.55    03/09/21    CNY     40.51
SHISHI CITY CONSTRUCTIO      6.10    05/04/22    CNY     40.87
SHIYAN ECO DEVELOPMENT       3.98    08/05/23    CNY     59.57
SHIYAN ECO DEVELOPMENT       3.98    08/05/23    CNY     59.03
SHIYAN STATE-OWNED CAPI      6.88    10/11/20    CNY     20.68
SHIYAN STATE-OWNED CAPI      6.58    08/20/21    CNY     20.50
SHIYAN STATE-OWNED CAPI      6.58    08/20/21    CNY     20.00
SHIYAN STATE-OWNED CAPI      6.88    10/11/20    CNY     19.99
SHOUGUANG CITY CONSTRUC      7.10    10/18/20    CNY     22.87
SHOUGUANG CITY CONSTRUC      7.10    10/18/20    CNY     20.01
SHUCHENG COUNTY URBAN C      5.50    04/29/23    CNY     61.11
SHUCHENG COUNTY URBAN C      5.50    04/29/23    CNY     61.10
SHUYANG JINGYUAN ASSET       5.49    09/11/22    CNY     46.00
SHUYANG JINGYUAN ASSET       5.49    09/11/22    CNY     40.54
SHUYANG JINGYUAN ASSET       7.39    04/14/21    CNY     20.33
SHUYANG JINGYUAN ASSET       7.39    04/14/21    CNY     20.00
SICHUAN COAL GASIFICATI      7.00    04/18/23    CNY     60.49
SICHUAN COAL INDUSTRY G      7.70    01/09/18    CNY     45.00
SICHUAN LANGZHONG FAMOU      5.60    04/19/23    CNY     59.75
SICHUAN LANGZHONG FAMOU      5.60    04/19/23    CNY     59.56
SICHUAN LONGYANG TIANFU      5.45    05/27/23    CNY     60.31
SICHUAN LONGYANG TIANFU      5.45    05/27/23    CNY     60.16
SICHUAN NAXING INDUSTRI      4.68    03/31/23    CNY     59.00
SICHUAN NAXING INDUSTRI      4.68    03/31/23    CNY     58.79
SICHUAN NAXING INDUSTRI      6.80    08/18/22    CNY     50.67
SICHUAN NAXING INDUSTRI      6.80    08/18/22    CNY     50.66
SICHUAN NAXING INDUSTRI      7.17    09/11/21    CNY     20.44
SICHUAN NAXING INDUSTRI      7.17    09/11/21    CNY     20.32
SICHUAN TIANYIN INDUSTR      6.79    03/25/22    CNY     48.00
SICHUAN TIANYIN INDUSTR      6.79    03/25/22    CNY     40.64
SIHONG COUNTY HONG YUAN      6.15    03/16/22    CNY     40.59
SIHONG COUNTY HONG YUAN      6.15    03/16/22    CNY     40.00
SIHUI STATE OWNED ASSET      4.59    01/14/23    CNY     59.58
SIHUI STATE OWNED ASSET      4.59    01/14/23    CNY     59.11
SIYANG COUNTY MINKANG R      4.94    01/21/23    CNY     60.56
SIYANG COUNTY MINKANG R      4.94    01/21/23    CNY     60.01
SLENDER WEST LAKE TOURI      6.80    06/25/21    CNY     20.47
SLENDER WEST LAKE TOURI      6.80    06/25/21    CNY     20.00
SONGYUAN URBAN DEVELOPM      5.79    12/04/21    CNY     40.78
SONGYUAN URBAN DEVELOPM      5.79    12/04/21    CNY     39.98
SUINING CITY HEDONG DEV      8.36    04/17/21    CNY     27.82
SUINING CITY HEDONG DEV      8.36    04/17/21    CNY     20.39
SUINING COUNTY RUNQI IN      5.42    11/20/22    CNY     60.49
SUINING COUNTY RUNQI IN      5.42    11/20/22    CNY     60.00
SUINING COUNTY RUNQI IN      7.10    06/25/21    CNY     20.42
SUINING COUNTY RUNQI IN      7.10    06/25/21    CNY     20.30
SUINING FUYUAN INDUSTRY      6.39    03/17/22    CNY     44.18
SUINING FUYUAN INDUSTRY      6.39    03/17/22    CNY     40.82
SUINING KAIDA INVESTMEN      4.89    04/08/23    CNY     59.14
SUINING KAIDA INVESTMEN      4.89    04/08/23    CNY     58.64
SUINING KAIDA INVESTMEN      8.69    04/21/21    CNY     20.34
SUINING KAIDA INVESTMEN      8.69    04/21/21    CNY     20.00
SUIZHOU DEVELOPMENT INV      8.50    12/20/20    CNY     21.83
SUIZHOU DEVELOPMENT INV      8.40    04/30/21    CNY     20.71
SUIZHOU DEVELOPMENT INV      8.40    04/30/21    CNY     20.45
SUIZHOU DEVELOPMENT INV      8.50    12/20/20    CNY     20.17
SUIZHOU HIGH-TECH INDUS      4.47    03/25/23    CNY     58.84
SUIZHOU HIGH-TECH INDUS      4.47    03/25/23    CNY     58.81
SUIZHOU URBAN CONSTRUCT      7.18    09/02/21    CNY     21.20
SUIZHOU URBAN CONSTRUCT      7.18    09/02/21    CNY     20.58
SUIZHOU YULONG WATER SU      6.10    03/28/23    CNY     59.77
SUQIAN CITY CONSTRUCTIO      6.88    10/29/20    CNY     20.26
SUQIAN CITY CONSTRUCTIO      6.88    10/29/20    CNY     20.03
SUZHOU CITY CONSTRUCTIO      3.89    03/24/23    CNY     60.08
SUZHOU CITY CONSTRUCTIO      3.89    03/24/23    CNY     60.07
SUZHOU CITY HENGCHENG C      4.40    03/01/23    CNY     61.37
SUZHOU CITY HENGCHENG C      4.40    03/01/23    CNY     60.23
SUZHOU FENHU INVESTMENT      7.49    02/28/21    CNY     20.20
SUZHOU FENHU INVESTMENT      7.49    02/28/21    CNY     20.19
SUZHOU NEW & HIGH-TECH       4.18    03/23/23    CNY     59.55
SUZHOU NEW & HIGH-TECH       4.18    03/23/23    CNY     58.82
SUZHOU NEW DISTRICT ECO      6.20    07/22/21    CNY     20.45
SUZHOU NEW DISTRICT ECO      6.20    07/22/21    CNY     20.35
SUZHOU WUJIANG COMMUNIC      6.80    10/31/20    CNY     25.53
SUZHOU WUJIANG COMMUNIC      6.80    10/31/20    CNY     25.04
SUZHOU WUJIANG DISTRICT      5.25    07/08/22    CNY     40.58
SUZHOU XIANGCHENG URBAN      6.95    03/19/21    CNY     22.60
SUZHOU XIANGCHENG URBAN      6.95    03/19/21    CNY     20.35
TAIAN TAISHAN HOLDINGS       5.50    04/26/23    CNY     60.68
TAIAN TAISHAN HOLDINGS       5.50    04/26/23    CNY     59.63
TAICANG ASSETS MANAGEME      7.00    02/27/21    CNY     20.20
TAICANG ASSETS MANAGEME      7.00    02/27/21    CNY     20.20
TAICANG SCIENCE EDUCATI      5.54    08/28/22    CNY     44.65
TAICANG SCIENCE EDUCATI      5.54    08/28/22    CNY     40.91
TAIXING CITY CHENGXING       8.30    12/12/20    CNY     20.10
TAIXING CITY CHENGXING       8.30    12/12/20    CNY     19.85
TAIXING CITY HONGQIAO Y      5.03    10/29/22    CNY     63.87
TAIXING CITY HONGQIAO Y      5.03    10/29/22    CNY     59.90
TAIYUAN ECONOMIC TECHNO      7.43    04/24/21    CNY     20.28
TAIYUAN HIGH-SPEED RAIL      6.50    10/30/20    CNY     25.04
TAIYUAN STATE-OWNED INV      7.20    03/19/21    CNY     26.50
TAIYUAN STATE-OWNED INV      7.20    03/19/21    CNY     20.24
TAIZHOU CITY CONSTRUCTI      6.92    10/16/23    CNY     62.68
TAIZHOU CITY CONSTRUCTI      6.92    10/16/23    CNY     62.10
TAIZHOU HAILING CITY DE      4.60    12/14/22    CNY     60.13
TAIZHOU JIAOJIANG STATE      6.18    07/06/22    CNY     44.00
TAIZHOU JIAOJIANG STATE      6.18    07/06/22    CNY     41.19
TAIZHOU JINDONG URBAN C      5.10    06/02/23    CNY     60.26
TAIZHOU JINDONG URBAN C      5.10    06/02/23    CNY     60.10
TAIZHOU XINBINJIANG DEV      7.60    03/05/21    CNY     21.00
TAIZHOU XINBINJIANG DEV      7.60    03/05/21    CNY     20.27
TAIZHOU XINTAI GROUP CO      4.07    03/23/23    CNY     60.26
TAIZHOU XINTAI GROUP CO      4.07    03/23/23    CNY     59.95
TANGSHAN CAOFEIDIAN DEV      7.50    10/15/20    CNY     20.03
TIANJIN BAOXING INDUSTR      7.10    10/17/20    CNY     19.99
TIANJIN BEICHEN DISTRIC      7.00    04/21/21    CNY     27.15
TIANJIN BEICHEN DISTRIC      7.00    04/21/21    CNY     20.23
TIANJIN BEICHEN TECHNOL      6.87    08/20/21    CNY     27.00
TIANJIN BEICHEN TECHNOL      6.87    08/20/21    CNY     20.06
TIANJIN BINHAI NEW AREA      6.10    11/23/21    CNY     42.65
TIANJIN BOHAI STATE-OWN      3.82    04/18/23    CNY     59.69
TIANJIN BOHAI STATE-OWN      3.82    04/18/23    CNY     59.64
TIANJIN DONGFANG CAIXIN      5.19    01/29/22    CNY     40.17
TIANJIN DONGFANG CAIXIN      5.19    01/29/22    CNY     39.59
TIANJIN DONGLI CITY INF      4.28    12/02/22    CNY     59.62
TIANJIN ECONOMIC TECHNO      6.50    12/03/22    CNY     46.30
TIANJIN ECONOMIC TECHNO      6.50    12/03/22    CNY     45.54
TIANJIN GUANGCHENG INVE      5.40    04/20/23    CNY     59.28
TIANJIN GUANGCHENG INVE      5.40    04/20/23    CNY     58.01
TIANJIN GUANGCHENG INVE      6.97    02/22/23    CNY     44.67
TIANJIN GUANGCHENG INVE      6.97    02/22/23    CNY     40.01
TIANJIN GUANGCHENG INVE      7.45    07/24/21    CNY     29.00
TIANJIN GUANGCHENG INVE      7.45    07/24/21    CNY     20.02
TIANJIN HARBOR CONSTRUC      6.29    10/21/21    CNY     70.11
TIANJIN HARBOR CONSTRUC      8.00    04/01/21    CNY     40.55
TIANJIN HARBOR CONSTRUC      8.80    01/24/21    CNY     40.46
TIANJIN HI-TECH INDUSTR      6.65    09/12/21    CNY     20.30
TIANJIN HI-TECH INDUSTR      6.65    09/12/21    CNY     19.99
TIANJIN HUANCHENG URBAN      5.75    04/27/22    CNY     41.70
TIANJIN HUANCHENG URBAN      5.75    04/27/22    CNY     40.61
TIANJIN HUANCHENG URBAN      7.20    03/21/21    CNY     20.35
TIANJIN HUANCHENG URBAN      7.20    03/21/21    CNY     20.20
TIANJIN INFRASTRUCTURE       5.70    02/26/23    CNY     46.00
TIANJIN INFRASTRUCTURE       5.70    02/26/23    CNY     45.81
TIANJIN JINNAN CITY CON      6.50    06/03/21    CNY     20.29
TIANJIN JINNAN CITY CON      6.50    06/03/21    CNY     20.00
TIANJIN LINGANG INVESTM      7.75    02/26/21    CNY     20.21
TIANJIN LINGANG INVESTM      7.75    02/26/21    CNY     20.11
TIANJIN NINGHE DISTRICT      7.00    05/30/21    CNY     27.50
TIANJIN NINGHE DISTRICT      7.00    05/30/21    CNY     20.21
TIANJIN NINGHE INVESTME      5.50    04/22/23    CNY     60.60
TIANJIN NINGHE INVESTME      5.50    04/22/23    CNY     60.15
TIANJIN RAILWAY CONSTRU      5.58    04/13/25    CNY     72.49
TIANJIN REAL ESTATE TRU      8.59    03/13/21    CNY     19.50
TIANJIN RESIDENTIAL CON      8.00    12/19/20    CNY     20.03
TIANJIN STATE-OWNED CAP      1.60    12/17/39    USD     74.35
TIANJIN WATER INVESTMEN      8.40    01/15/21    CNY     25.04
TIANJIN WATER INVESTMEN      6.60    07/28/21    CNY     21.80
TIANJIN WATER INVESTMEN      6.60    07/28/21    CNY     19.33
TIANJIN WUQING STATE-OW      4.15    11/17/22    CNY     60.04
TIANJIN WUQING STATE-OW      4.15    11/17/22    CNY     59.90
TIANJIN WUQING STATE-OW      8.00    12/17/20    CNY     20.76
TIANJIN WUQING STATE-OW      7.18    03/19/21    CNY     20.42
TIANJIN WUQING STATE-OW      7.18    03/19/21    CNY     20.19
TIANJIN WUQING STATE-OW      8.00    12/17/20    CNY     20.16
TIANMEN CITY CONSTRUCTI      8.20    08/28/21    CNY     25.16
TIANMEN CITY CONSTRUCTI      8.20    08/28/21    CNY     20.77
TONGLING CONSTRUCTION I      4.12    03/14/23    CNY     60.00
TONGLING CONSTRUCTION I      4.12    03/14/23    CNY     59.88
TONGLU STATE-OWNED ASSE      8.09    04/18/21    CNY     20.98
TONGLU STATE-OWNED ASSE      8.09    04/18/21    CNY     20.42
TSINGHUA UNIGROUP CO LT      5.85    03/27/22    CNY     64.81
TSINGHUA UNIGROUP CO LT      5.20    12/10/23    CNY     59.90
TULUFAN DISTRICT STATE-      6.20    03/19/22    CNY     41.38
TULUFAN DISTRICT STATE-      6.20    03/19/22    CNY     40.68
TUNGHSU GROUP CO LTD         6.55    03/13/22    CNY     45.00
ULANQAB CITY INVESTMENT      8.39    04/25/22    CNY     51.26
ULANQAB JINING DISTRICT      6.16    03/24/23    CNY     59.77
ULANQAB JINING DISTRICT      6.16    03/24/23    CNY     59.13
URUMQI ECO&TECH DEVELOP      6.40    04/13/22    CNY     40.92
URUMQI ECO&TECH DEVELOP      6.40    04/13/22    CNY     40.00
WAFANGDIAN COASTAL PROJ      3.98    02/01/23    CNY     58.84
WAFANGDIAN COASTAL PROJ      3.98    02/01/23    CNY     58.28
WANGCHENG ECONOMIC DEVE      3.75    07/13/23    CNY     61.05
WANGCHENG ECONOMIC DEVE      3.75    07/13/23    CNY     61.02
WANGCHENG ECONOMIC DEVE      6.57    01/22/22    CNY     48.81
WANGCHENG ECONOMIC DEVE      6.57    01/22/22    CNY     40.81
WEICHI HOLDING GROUP CO      5.40    12/21/20    CNY     60.00
WEIFANG BINHAI INVESTME      6.16    04/16/21    CNY     25.22
WEIHAI LANCHUANG CONSTR      4.80    12/17/22    CNY     59.59
WEIHAI LANCHUANG CONSTR      4.80    12/17/22    CNY     59.39
WEIHAI URBAN CONSTRUCTI      3.33    03/02/23    CNY     59.44
WEIHAI URBAN CONSTRUCTI      3.33    03/02/23    CNY     58.40
WEIHAI WENDENG URBAN PR      4.80    05/26/23    CNY     59.33
WEIHAI WENDENG URBAN PR      4.80    05/26/23    CNY     58.97
WEINAN CITY INVESTMENT       6.09    03/11/22    CNY     40.67
WEINAN CITY INVESTMENT       6.09    03/11/22    CNY     40.00
WENDENG GOLDEN BEACH IN      3.97    03/21/23    CNY     59.27
WENDENG GOLDEN BEACH IN      3.97    03/21/23    CNY     59.20
WENSHAN URBAN CONSTRUCT      4.50    09/13/23    CNY     58.80
WENSHAN URBAN CONSTRUCT      4.50    09/13/23    CNY     58.54
WENZHOU CITY CONSTRUCTI      5.00    04/26/23    CNY     61.07
WENZHOU CITY CONSTRUCTI      5.00    04/26/23    CNY     60.99
WENZHOU CITY CONSTRUCTI      4.05    01/25/23    CNY     59.78
WENZHOU CITY CONSTRUCTI      4.05    01/25/23    CNY     59.57
WENZHOU GANGCHENG DEVEL      5.19    03/29/23    CNY     61.87
WENZHOU GANGCHENG DEVEL      5.19    03/29/23    CNY     60.91
WENZHOU HIGH-TECH INDUS      7.30    05/30/21    CNY     20.60
WENZHOU HIGH-TECH INDUS      7.95    03/21/21    CNY     20.46
WENZHOU HIGH-TECH INDUS      7.95    03/21/21    CNY     20.38
WENZHOU HIGH-TECH INDUS      7.30    05/30/21    CNY     20.35
WENZHOU LUCHENG CITY DE      5.58    11/03/21    CNY     40.31
WENZHOU LUCHENG CITY DE      5.58    11/03/21    CNY     40.20
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      8.19    04/21/21    CNY     20.32
WUHAI CITY CONSTRUCTION      8.19    04/21/21    CNY      5.42
WUHAN CHEDU CORP LTD         7.18    02/27/21    CNY     20.96
WUHAN CHEDU CORP LTD         7.18    02/27/21    CNY     20.21
WUHAN CITY HUANPI DISTR      6.43    09/17/21    CNY     23.02
WUHAN CITY HUANPI DISTR      6.43    09/17/21    CNY     20.46
WUHAN JIANGXIA URBAN CO      4.80    06/03/23    CNY     60.69
WUHAN JIANGXIA URBAN CO      4.80    06/03/23    CNY     60.50
WUHAN JIANGXIA URBAN CO      8.99    01/20/21    CNY     20.24
WUHAN METRO GROUP CO LT      5.25    04/14/22    CNY     40.36
WUHAN QIAOKOU STATE OWN      3.48    08/29/23    CNY     59.17
WUHAN QIAOKOU STATE OWN      3.48    08/29/23    CNY     58.93
WUHU COMMUNICATIONS INV      4.50    04/28/23    CNY     59.79
WUHU COMMUNICATIONS INV      4.50    04/28/23    CNY     59.76
WUHU COMMUNICATIONS INV      3.58    09/23/23    CNY     58.83
WUHU COMMUNICATIONS INV      3.58    09/23/23    CNY     58.60
WUHU COUNTY CONSTRUCTIO      6.60    12/08/21    CNY     46.35
WUHU COUNTY CONSTRUCTIO      6.60    12/08/21    CNY     40.72
WUHU JINGHU CONSTRUCTIO      4.37    07/20/23    CNY     59.64
WUHU JINGHU CONSTRUCTIO      4.37    07/20/23    CNY     59.63
WUHU JIUJIANG CONSTRUCT      3.96    03/21/23    CNY     59.55
WUHU JIUJIANG CONSTRUCT      8.49    04/14/21    CNY     20.48
WUHU JIUJIANG CONSTRUCT      8.49    04/14/21    CNY     20.00
WUHU XINMA INVESTMENT C      4.87    11/04/22    CNY     60.36
WUHU XINMA INVESTMENT C      4.87    11/04/22    CNY     59.80
WUHU YIJU INVESTMENT GR      6.45    08/11/21    CNY     21.45
WUHU YIJU INVESTMENT GR      6.45    08/11/21    CNY     20.48
WUWEI CITY ECONOMY DEVE      8.20    12/09/20    CNY     20.40
WUWEI CITY ECONOMY DEVE      8.20    04/24/21    CNY     20.26
WUWEI CITY ECONOMY DEVE      8.20    04/24/21    CNY     20.10
WUWEI CITY ECONOMY DEVE      8.20    12/09/20    CNY     20.08
WUXI HUIKAI ECONOMIC DE      4.16    04/08/23    CNY     60.01
WUXI HUIKAI ECONOMIC DE      4.16    04/08/23    CNY     59.83
WUXI HUNING METRO HUISH      4.38    06/08/21    CNY     40.45
WUXI HUNING METRO HUISH      4.38    06/08/21    CNY     40.08
WUXI MUNICIPAL DEVELOPM      6.10    10/11/20    CNY     20.00
WUXI TAIHU NEW CITY DEV      4.49    05/03/23    CNY     60.70
WUXI TAIHU NEW CITY DEV      4.49    05/03/23    CNY     60.63
WUXI TAIHU NEW CITY DEV      3.47    08/29/23    CNY     59.50
WUXI TAIHU NEW CITY DEV      3.47    08/29/23    CNY     59.27
WUYANG CONSTRUCTION GRO      7.80    09/11/20    CNY     32.48
WUZHONG URBAN RURAL CON      7.18    10/12/20    CNY     20.01
WUZHONG URBAN RURAL CON      7.18    10/12/20    CNY     20.00
XIAMEN TORCH GROUP CO L      7.49    04/21/21    CNY     24.88
XIAMEN TORCH GROUP CO L      7.49    04/21/21    CNY     20.33
XIAN FENGDONG DEVELOPME      4.67    01/08/23    CNY     59.94
XIAN FENGDONG DEVELOPME      4.67    01/08/23    CNY     59.71
XI'AN INTERNATIONAL HOR      6.20    10/21/21    CNY     41.46
XI'AN INTERNATIONAL HOR      6.20    10/21/21    CNY     40.46
XI'AN INTERNATIONAL INL      7.90    09/23/21    CNY     22.28
XIANGSHUI GUANJIANG HOL      4.98    12/24/22    CNY     63.20
XIANGSHUI GUANJIANG HOL      4.98    12/24/22    CNY     60.52
XIANGTAN CITY CONSTRUCT      7.60    04/02/22    CNY     62.66
XIANGTAN CITY CONSTRUCT      7.80    01/30/22    CNY     62.42
XIANGTAN CITY CONSTRUCT      7.80    03/12/22    CNY     62.00
XIANGTAN CITY'S CONSTRU      3.60    08/04/23    CNY     58.87
XIANGTAN CITY'S CONSTRU      3.95    08/04/23    CNY     57.44
XIANGTAN CITY'S CONSTRU      3.95    08/04/23    CNY     56.78
XIANGTAN HI-TECH GROUP       8.16    02/25/21    CNY     28.99
XIANGTAN HI-TECH GROUP       8.16    02/25/21    CNY     20.12
XIANGTAN JIUHUA ECONOMI      5.00    07/25/26    CNY     62.63
XIANGTAN JIUHUA ECONOMI      6.59    01/21/22    CNY     39.12
XIANGTAN JIUHUA ECONOMI      7.15    10/15/20    CNY     19.99
XIANGTAN JIUHUA ECONOMI      7.15    10/15/20    CNY     19.95
XIANGTAN LIANGXING SOCI      7.89    04/23/21    CNY     20.16
XIANGTAN LIANGXING SOCI      7.89    04/23/21    CNY     20.10
XIANGTAN WANLOU XINCHEN      6.90    01/14/22    CNY     39.90
XIANGTAN WANLOU XINCHEN      6.90    01/14/22    CNY     35.49
XIANGXIANG ECONOMIC DIS      5.28    09/09/23    CNY     57.72
XIANGXIANG ECONOMIC DIS      5.28    09/09/23    CNY     57.30
XIANGXIANG URBAN CONSTR      5.84    05/18/23    CNY     60.61
XIANGXIANG URBAN CONSTR      5.84    05/18/23    CNY     59.72
XIANGYANG CITY XIANGZHO      5.18    04/28/23    CNY     60.77
XIANGYANG CITY XIANGZHO      5.18    04/28/23    CNY     60.65
XIANGYANG HIGH TECH STA      7.00    05/29/21    CNY     23.38
XIANGYANG HIGH TECH STA      7.00    05/29/21    CNY     20.35
XIANGYANG STATE-OWNED C      4.62    01/25/23    CNY     59.79
XIANGYANG STATE-OWNED C      4.62    01/25/23    CNY     59.78
XIANNING HIGH-TECH INVE      6.29    02/10/22    CNY     40.71
XIANNING HIGH-TECH INVE      6.29    02/10/22    CNY     40.56
XIANTAO CITY CONSTRUCTI      4.59    04/18/23    CNY     60.29
XIANTAO CITY CONSTRUCTI      4.59    04/18/23    CNY     59.73
XIANTAO CITY CONSTRUCTI      8.15    02/24/21    CNY     20.38
XIAOGAN GAOCHUANG INVES      7.43    06/23/21    CNY     32.72
XIAOGAN GAOCHUANG INVES      6.87    09/22/21    CNY     26.69
XIAOGAN GAOCHUANG INVES      6.87    09/22/21    CNY     20.22
XIAOGAN GAOCHUANG INVES      7.43    06/23/21    CNY     20.18
XIAOGAN URBAN CONSTRUCT      3.94    07/05/21    CNY     62.99
XIAOGAN URBAN CONSTRUCT      6.89    05/29/21    CNY     20.40
XIAOGAN URBAN CONSTRUCT      6.89    05/29/21    CNY     20.38
XIAOXIAN COUNTY DEVELOP      4.85    06/22/23    CNY     60.63
XIAOXIAN COUNTY DEVELOP      4.85    06/22/23    CNY     60.45
XINDONGGANG HOLDING GRO      5.53    04/27/23    CNY     60.54
XINDONGGANG HOLDING GRO      5.53    04/27/23    CNY     60.16
XINGAN COUNTY URBAN CON      5.48    08/03/23    CNY     57.92
XINGAN COUNTY URBAN CON      5.48    08/03/23    CNY     57.88
XINGAN LEAGUE URBAN DEV      6.18    12/21/22    CNY     42.59
XINGAN LEAGUE URBAN DEV      6.18    12/21/22    CNY     42.05
XINGHUA CITY ECONOMIC D      5.28    06/13/22    CNY     49.89
XINGHUA CITY ECONOMIC D      5.28    06/13/22    CNY     49.63
XINGYI XINHENG URBAN CO      5.40    12/16/22    CNY     60.00
XINGYI XINHENG URBAN CO      5.40    12/16/22    CNY     58.63
XINJIANG KAIDI INVESTME      7.80    04/22/21    CNY     21.35
XINJIANG KAIDI INVESTME      7.80    04/22/21    CNY     20.16
XINMI CAIYUAN CITY CONS      4.35    02/28/23    CNY     60.76
XINMI CAIYUAN CITY CONS      4.35    02/28/23    CNY     60.07
XINMIN CITY LUXIN MUNIC      6.41    07/29/21    CNY     13.94
XINMIN CITY LUXIN MUNIC      6.41    07/29/21    CNY     13.94
XINTAI CITY COORDINATIN      6.35    03/23/22    CNY     40.75
XINTAI CITY COORDINATIN      6.35    03/23/22    CNY     40.37
XINYANG HUAXIN INVESTME      7.55    04/15/21    CNY     26.30
XINYANG HUAXIN INVESTME      7.55    04/15/21    CNY     20.25
XINYI CITY INVESTMENT &      4.30    01/19/23    CNY     60.00
XINYI CITY INVESTMENT &      4.30    01/19/23    CNY     59.57
XINYI CITY INVESTMENT &      7.39    10/15/20    CNY     20.32
XINYI CITY INVESTMENT &      7.39    10/15/20    CNY     20.01
XINYI URBAN TRANSPORTAT      6.14    02/06/22    CNY     41.53
XINYI URBAN TRANSPORTAT      6.14    02/06/22    CNY     40.77
XINYU CHENGDONG CONSTRU      8.48    05/27/21    CNY     20.33
XINYU CITY SHANTYTOWN Z      6.42    12/09/20    CNY     40.05
XINYU CITY YUSHUI DISTR      7.70    06/24/22    CNY     41.56
XINYU CITY YUSHUI DISTR      7.70    06/24/22    CNY     41.39
XINZHENG NEW DISTRICT D      6.40    01/29/21    CNY     25.13
XINZHOU ASSET MANAGEMEN      7.90    02/21/21    CNY     21.07
XINZHOU ASSET MANAGEMEN      7.90    02/21/21    CNY     20.29
XINZHOU ASSET MANAGEMEN      8.50    12/18/20    CNY     20.17
XINZHOU ASSET MANAGEMEN      8.50    12/18/20    CNY     20.08
XIUSHAN INDUSTRY DEVELO      5.85    04/14/23    CNY     60.00
XIUSHAN INDUSTRY DEVELO      5.85    04/14/23    CNY     60.00
XIWANG GROUP CO LTD          7.80    12/03/22    CNY     49.94
XUANCHENG CITY ECONOMY       7.95    09/22/21    CNY     26.00
XUANCHENG CITY ECONOMY       7.95    09/22/21    CNY     20.76
XUANCHENG STATE-OWNED A      4.12    04/07/23    CNY     60.23
XUANCHENG STATE-OWNED A      4.12    04/07/23    CNY     60.23
XUANCHENG STATE-OWNED A      7.95    03/27/21    CNY     26.00
XUANCHENG STATE-OWNED A      7.95    03/27/21    CNY     20.32
XUZHOU BOCHANT DEVELOPM      5.69    07/28/21    CNY     33.05
XUZHOU CITY JIAWANG CON      4.00    03/23/23    CNY     59.64
XUZHOU CITY TONGSHAN DI      5.23    09/18/22    CNY     41.00
XUZHOU CITY TONGSHAN DI      5.23    09/18/22    CNY     40.58
XUZHOU ECONOMIC TECHNOL      7.35    04/21/21    CNY     20.36
XUZHOU ECONOMIC TECHNOL      7.35    04/21/21    CNY     20.32
XUZHOU HI-TECH INDUSTRI      7.86    04/22/21    CNY     31.50
XUZHOU HI-TECH INDUSTRI      7.86    04/22/21    CNY     20.45
XUZHOU TRANSPORTATION H      7.09    05/15/21    CNY     21.00
XUZHOU TRANSPORTATION H      7.09    05/15/21    CNY     20.40
XUZHOU XINSHENG INVESTM      5.13    08/12/22    CNY     44.46
XUZHOU XINSHENG INVESTM      5.13    08/12/22    CNY     40.86
YANCHENG CITY TINGHU DI      7.95    11/15/20    CNY     20.05
YANCHENG CITY TINGHU DI      7.95    11/15/20    CNY     18.30
YANCHENG DAFENG DISTRIC      8.70    01/24/21    CNY     20.97
YANCHENG DAFENG DISTRIC      8.50    12/30/20    CNY     20.60
YANCHENG DAFENG DISTRIC      8.70    01/24/21    CNY     20.24
YANCHENG DAFENG DISTRIC      8.50    12/30/20    CNY     20.18
YANCHENG HIGH-TECH ZONE      3.90    12/14/22    CNY     60.06
YANCHENG ORIENTAL INVES      6.48    09/15/21    CNY     20.29
YANCHENG SOUTH DISTRICT      6.70    07/30/21    CNY     20.40
YANCHENG SOUTH DISTRICT      6.70    07/30/21    CNY     20.39
YANCHENG YANDU DISTRICT      3.67    03/17/23    CNY     59.47
YANCHENG YANDU DISTRICT      3.67    03/17/23    CNY     59.46
YANGJIANG HENGCAI CITY       6.24    04/14/22    CNY     41.20
YANGJIANG HENGCAI CITY       6.24    04/14/22    CNY     41.04
YANGZHONG TRANSPORTATIO      4.98    04/07/23    CNY     60.62
YANGZHONG TRANSPORTATIO      4.98    04/07/23    CNY     60.32
YANGZHONG TRANSPORTATIO      4.95    04/07/23    CNY     60.11
YANGZHONG TRANSPORTATIO      4.95    04/07/23    CNY     59.69
YANGZHOU CHEMICAL INDUS      8.58    01/24/21    CNY     26.00
YANGZHOU CHEMICAL INDUS      8.58    01/24/21    CNY     20.15
YANGZHOU ECONOMIC & TEC      7.40    03/05/21    CNY     40.63
YANGZHOU ECONOMIC & TEC      7.40    03/05/21    CNY     40.00
YANGZHOU GUANGLING NEW       3.62    09/07/23    CNY     58.00
YANGZHOU GUANGLING NEW       3.62    09/07/23    CNY     55.99
YANGZHOU HANJIANG CONST      5.88    06/15/22    CNY     46.63
YANGZHOU HANJIANG CONST      5.88    06/15/22    CNY     40.94
YI CHENG CONSTRUCTION I      5.44    04/27/23    CNY     60.07
YI ZHENG CITY DEVELOPME      4.63    01/08/23    CNY     60.07
YI ZHENG CITY DEVELOPME      4.63    01/08/23    CNY     60.00
YI ZHENG CITY DEVELOPME      8.60    01/09/21    CNY     29.30
YI ZHENG CITY DEVELOPME      8.60    01/09/21    CNY     20.14
YICHANG HIGH-TECH INVES      4.80    12/15/22    CNY     60.40
YICHANG HIGH-TECH INVES      4.80    12/15/22    CNY     60.00
YICHANG HIGH-TECH INVES      3.74    07/21/23    CNY     59.74
YICHANG HIGH-TECH INVES      3.74    07/21/23    CNY     58.85
YICHUN URBAN CONSTRUCTI      7.09    05/15/21    CNY     23.47
YICHUN URBAN CONSTRUCTI      7.09    05/15/21    CNY     20.40
YICHUN VENTURE CAPITAL       6.70    03/23/22    CNY     40.79
YICHUN VENTURE CAPITAL       6.70    03/23/22    CNY     40.61
YIHUA ENTERPRISE GROUP       7.00    04/29/22    CNY     54.00
YIHUA ENTERPRISE GROUP       6.80    03/15/21    CNY     47.99
YIHUA ENTERPRISE GROUP       5.99    11/26/20    CNY     30.00
YIHUA LIFESTYLE TECHNOL      6.88    07/16/20    CNY     35.90
YIHUA LIFESTYLE TECHNOL      6.88    07/23/20    CNY     35.00
YILI KAZAKH AUTONOMOUS       7.68    02/28/21    CNY     20.75
YILI KAZAKH AUTONOMOUS       7.68    02/28/21    CNY     20.31
YINCHUAN URBAN CONSTRUC      6.88    05/12/21    CNY     20.25
YINGKOU COASTAL DEVELOP      6.45    01/26/22    CNY     40.29
YINGKOU COASTAL DEVELOP      6.45    01/26/22    CNY     39.03
YINGKOU ECO & TECH DEVE      5.20    08/05/23    CNY     59.38
YINGKOU ECO & TECH DEVE      5.20    08/05/23    CNY     58.06
YINGKOU LAOBIAN CITY CO      4.98    03/11/23    CNY     60.00
YINGKOU LAOBIAN CITY CO      5.63    12/16/22    CNY     60.00
YINGKOU LAOBIAN CITY CO      4.98    03/11/23    CNY     58.90
YINGTAN LONGGANG ASSET       6.75    07/31/22    CNY     41.18
YINGTAN LONGGANG ASSET       6.75    07/31/22    CNY     40.20
YINGTAN STATE-OWNED ASS      7.50    12/12/22    CNY     46.58
YINGTAN STATE-OWNED ASS      7.50    12/12/22    CNY     46.56
YINGTAN STATE-OWNED ASS      3.63    08/12/21    CNY     39.98
YINING CITY STATE OWNED      5.37    09/24/22    CNY     39.31
YINING CITY STATE OWNED      8.90    01/23/21    CNY     29.95
YINING CITY STATE OWNED      8.90    01/23/21    CNY     20.26
YIWU CITY CONSTRUCTION       4.31    12/07/22    CNY     60.40
YIWU CITY CONSTRUCTION       4.31    12/07/22    CNY     60.27
YIWU URBAN & RURAL NEW       4.25    11/24/21    CNY     49.84
YIXING CITY CONSTRUCTIO      6.16    03/30/22    CNY     40.87
YIXING CITY CONSTRUCTIO      6.16    03/30/22    CNY     40.00
YIXING TUOYE INDUSTRIAL      7.60    05/28/21    CNY     23.50
YIXING TUOYE INDUSTRIAL      7.60    05/28/21    CNY     20.28
YIYANG ADVANCED INDUSTR      7.00    03/30/22    CNY     48.00
YIYANG ADVANCED INDUSTR      7.00    03/30/22    CNY     40.63
YIZHANG XINGYI CONSTRUC      5.49    09/02/24    CNY     69.26
YIZHANG XINGYI CONSTRUC      5.49    09/02/24    CNY     67.96
YONG ZHOU CITY CONSTRUC      7.30    10/23/20    CNY     20.03
YONGJIA INVESTMENT GROU      6.50    11/12/21    CNY     40.59
YONGJIA INVESTMENT GROU      6.50    11/12/21    CNY     40.00
YONGXING YINDU CONSTRUC      5.60    03/24/23    CNY     60.56
YONGXING YINDU CONSTRUC      5.60    03/24/23    CNY     60.56
YONGZHOU ECONOMIC CONST      3.55    01/14/23    CNY     60.50
YONGZHOU ECONOMIC CONST      3.55    01/14/23    CNY     59.43
YUANAN COUNTY QIFENG CI      5.50    05/27/23    CNY     60.56
YUANAN COUNTY QIFENG CI      5.50    05/27/23    CNY     60.02
YUEYANG CITY DONGTING N      6.15    03/20/22    CNY     40.15
YUEYANG CITY DONGTING N      6.15    03/20/22    CNY     40.06
YUEYANG HUILIN INVESTME      5.50    11/03/21    CNY     40.06
YUEYANG HUILIN INVESTME      5.50    11/03/21    CNY     40.00
YUEYANG YUNXI CITY CONS      6.00    07/08/23    CNY     60.10
YUEYANG YUNXI CITY CONS      6.00    07/08/23    CNY     58.99
YUHUAN CITY COMMUNICATI      5.65    11/03/21    CNY     44.50
YUHUAN CITY COMMUNICATI      6.18    03/20/22    CNY     44.47
YUHUAN CITY COMMUNICATI      5.65    11/03/21    CNY     40.40
YUHUAN CITY COMMUNICATI      6.18    03/20/22    CNY     40.37
YUHUAN CITY CONSTRUCTIO      5.10    05/03/23    CNY     61.01
YUHUAN CITY CONSTRUCTIO      5.10    05/03/23    CNY     60.23
YUNNAN METROPOLITAN CON      6.77    05/23/21    CNY     20.35
YUNNAN METROPOLITAN CON      6.77    05/23/21    CNY     19.80
YUYAO CITY CONSTRUCTION      7.09    05/19/21    CNY     20.46
YUZHOU GENERAL INVESTME      4.68    01/19/23    CNY     60.17
YUZHOU GENERAL INVESTME      4.68    01/19/23    CNY     60.00
ZAOYANG CITY CONSTRUCTI      5.50    03/22/23    CNY     60.58
ZAOYANG CITY CONSTRUCTI      5.50    03/22/23    CNY     60.13
ZHANGJIAGANG JINCHENG I      6.88    04/28/21    CNY     20.30
ZHANGJIAGANG JINCHENG I      6.88    04/28/21    CNY     20.30
ZHANGJIAJIE ECONOMIC DE      7.80    04/17/21    CNY     20.32
ZHANGQIU STATE OWNED AS      3.69    08/09/23    CNY     59.59
ZHANGQIU STATE OWNED AS      3.69    08/09/23    CNY     58.47
ZHANGSHU STATE-OWNED AS      4.80    06/22/23    CNY     62.67
ZHANGSHU STATE-OWNED AS      4.80    06/22/23    CNY     59.98
ZHANGYE CITY INVESTMENT      6.92    09/22/21    CNY     20.90
ZHANGYE CITY INVESTMENT      6.92    09/22/21    CNY     20.48
ZHANGZHOU ECONOMIC DEVE      6.17    04/27/22    CNY     40.80
ZHANGZHOU ECONOMIC DEVE      6.17    04/27/22    CNY     40.50
ZHANGZHOU JIULONGJIANG       6.48    06/20/21    CNY     20.43
ZHANGZHOU JIULONGJIANG       6.48    06/20/21    CNY     20.30
ZHANJIANG INFRASTRUCTUR      6.93    10/21/20    CNY     20.10
ZHANJIANG INFRASTRUCTUR      6.93    10/21/20    CNY     20.01
ZHAOQING GAOYAO DISTRIC      6.68    04/14/22    CNY     40.79
ZHAOQING GAOYAO DISTRIC      6.68    04/14/22    CNY     40.00
ZHAOQING HI-TECH ZONE C      3.97    08/26/23    CNY     59.71
ZHAOQING HI-TECH ZONE C      3.97    08/26/23    CNY     58.99
ZHEJIANG BINHAI NEW CIT      4.65    12/23/22    CNY     60.46
ZHEJIANG CHANGXING JING      7.99    03/03/21    CNY     30.00
ZHEJIANG CHANGXING JING      7.99    03/03/21    CNY     20.15
ZHEJIANG GUOXING INVEST      6.94    08/01/21    CNY     28.50
ZHEJIANG GUOXING INVEST      6.94    08/01/21    CNY     20.48
ZHEJIANG HANGZHOU QINGS      7.90    04/23/21    CNY     24.00
ZHEJIANG HANGZHOU QINGS      7.90    04/23/21    CNY     20.39
ZHEJIANG HUISHENG INVES      4.49    03/15/24    CNY     70.24
ZHEJIANG HUISHENG INVES      4.49    03/15/24    CNY     70.00
ZHEJIANG OUHAI CONSTRUC      4.83    01/21/23    CNY     60.42
ZHEJIANG OUHAI CONSTRUC      6.45    04/23/22    CNY     41.05
ZHEJIANG OUHAI CONSTRUC      6.45    04/23/22    CNY     40.30
ZHEJIANG PROVINCE XINCH      6.95    12/31/21    CNY     41.20
ZHEJIANG PROVINCE XINCH      5.88    10/30/21    CNY     41.06
ZHEJIANG PROVINCE XINCH      6.95    12/31/21    CNY     40.91
ZHEJIANG PROVINCE XINCH      5.88    10/30/21    CNY     40.47
ZHENGZHOU AIRPORT ECONO      4.27    07/20/26    CNY     70.19
ZHENGZHOU AIRPORT ECONO      4.27    07/20/26    CNY     70.19
ZHENGZHOU JINGKAI INVES      5.48    07/31/22    CNY     40.95
ZHENGZHOU JINGKAI INVES      5.48    07/31/22    CNY     40.00
ZHENGZHOU MOUZHONG DEVE      4.59    04/18/23    CNY     60.49
ZHENGZHOU MOUZHONG DEVE      4.59    04/18/23    CNY     60.42
ZHENGZHOU MOUZHONG DEVE      7.48    12/11/21    CNY     46.20
ZHENGZHOU MOUZHONG DEVE      7.48    12/11/21    CNY     40.69
ZHENJIANG CITY CONSTRUC      7.90    12/18/20    CNY     28.50
ZHENJIANG CITY CONSTRUC      8.20    01/13/21    CNY     28.49
ZHENJIANG CITY CONSTRUC      8.20    01/13/21    CNY     20.21
ZHENJIANG CITY CONSTRUC      7.90    12/18/20    CNY     20.14
ZHENJIANG DANTU DISTRIC      5.89    11/03/21    CNY     40.14
ZHENJIANG DANTU DISTRIC      5.89    11/03/21    CNY     39.60
ZHENJIANG NEW AREA URBA      5.31    07/14/23    CNY     60.50
ZHENJIANG NEW AREA URBA      5.31    07/14/23    CNY     59.47
ZHENJIANG NEW AREA URBA      8.35    02/26/21    CNY     20.18
ZHENJIANG NEW AREA URBA      8.99    01/16/21    CNY     20.12
ZHIJIANG STATE-OWNED AS      4.38    03/28/23    CNY     64.70
ZHIJIANG STATE-OWNED AS      4.78    01/11/23    CNY     60.05
ZHIJIANG STATE-OWNED AS      4.38    03/28/23    CNY     60.00
ZHIJIANG STATE-OWNED AS      4.78    01/11/23    CNY     60.00
ZHONGGUANCUN DEVELOPMEN      4.20    08/12/22    CNY     40.50
ZHONGGUANCUN DEVELOPMEN      4.20    08/12/22    CNY     40.17
ZHONGMINTOU LEASING HOL      7.55    09/21/21    CNY     49.49
ZHONGRONG XINDA GROUP C      7.10    01/22/21    CNY     33.70
ZHONGSHAN TRANSPORTATIO      5.25    11/26/21    CNY     40.33
ZHONGSHAN TRANSPORTATIO      5.25    11/26/21    CNY     40.00
ZHONGTIAN FINANCIAL GRO      7.00    10/15/20    CNY     24.91
ZHOUKOU INVESTMENT GROU      7.49    04/21/21    CNY     20.16
ZHOUSHAN DINGHAI CITY C      6.67    07/20/22    CNY     40.40
ZHOUSHAN DINGHAI STATE-      7.13    08/04/21    CNY     20.33
ZHOUSHAN DINGHAI STATE-      7.13    08/04/21    CNY     20.18
ZHOUSHAN ISLANDS NEW DI      6.98    10/22/22    CNY     56.33
ZHOUSHAN ISLANDS NEW DI      6.98    10/22/22    CNY     55.80
ZHOUSHAN PUTUO DISTRICT      7.18    06/20/22    CNY     41.90
ZHOUSHAN PUTUO DISTRICT      7.18    06/20/22    CNY     41.29
ZHUHAI HUIHUA INFRASTRU      4.70    06/27/23    CNY     60.38
ZHUHAI HUIHUA INFRASTRU      4.70    06/27/23    CNY     60.32
ZHUJI CITY EAST NEW TOW      3.89    08/26/23    CNY     59.79
ZHUJI CITY YUEDU INVEST      6.38    04/07/22    CNY     41.01
ZHUJI CITY YUEDU INVEST      6.38    04/07/22    CNY     40.95
ZHUJI CITY YUEDU INVEST      8.20    12/12/20    CNY     24.50
ZHUJI CITY YUEDU INVEST      8.20    12/12/20    CNY     20.20
ZHUZHOU CITY CONSTRUCTI      8.36    11/10/21    CNY     43.75
ZHUZHOU CITY CONSTRUCTI      6.95    10/16/20    CNY     20.04
ZHUZHOU CITY CONSTRUCTI      6.95    10/16/20    CNY     20.03
ZHUZHOU GECKOR GROUP CO      3.78    09/28/23    CNY     59.09
ZHUZHOU GECKOR GROUP CO      3.78    09/28/23    CNY     58.81
ZHUZHOU GECKOR GROUP CO      6.38    04/17/22    CNY     40.80
ZHUZHOU GECKOR GROUP CO      6.38    04/17/22    CNY     40.00
ZHUZHOU GECKOR GROUP CO      6.95    08/11/21    CNY     20.86
ZHUZHOU GECKOR GROUP CO      6.95    08/11/21    CNY     20.35
ZHUZHOU RECYCLING ECONO      4.38    03/24/23    CNY     57.68
ZHUZHOU RECYCLING ECONO      4.38    03/24/23    CNY     57.04
ZHUZHOU XIANGJIANG SCEN      5.39    11/25/22    CNY     60.72
ZHUZHOU XIANGJIANG SCEN      5.39    11/25/22    CNY     60.24
ZIBO BANYANG CITY URBAN      5.50    09/09/22    CNY     41.03
ZIBO BANYANG CITY URBAN      5.50    09/09/22    CNY     40.00
ZIYANG WATER INVESTMENT      3.97    03/17/23    CNY     58.30
ZIYANG WATER INVESTMENT      3.97    03/17/23    CNY     58.29
ZIYANG WATER INVESTMENT      7.40    10/21/20    CNY     20.01
ZIYANG WATER INVESTMENT      7.40    10/21/20    CNY     20.00
ZIZHONG COUNTY XINGZI I      5.97    01/18/23    CNY     59.68
ZIZHONG COUNTY XINGZI I      5.97    01/18/23    CNY     58.59
ZUNYI ECONOMIC DEVELOPM      4.87    01/22/23    CNY     60.00
ZUNYI ECONOMIC DEVELOPM      4.87    01/22/23    CNY     57.87
ZUNYI HONGHUAGANG CITY       6.98    07/25/24    CNY     74.90
ZUNYI HONGHUAGANG CITY       5.05    06/27/23    CNY     59.06
ZUNYI HONGHUAGANG CITY       5.05    06/27/23    CNY     57.87
ZUNYI NEW DISTRICT DEVE      5.99    04/07/26    CNY     69.89
ZUNYI NEW DISTRICT DEVE      5.99    04/07/26    CNY     69.62
ZUNYI ROAD & BRIDGE CON      6.10    04/27/23    CNY     57.96
ZUNYI ROAD & BRIDGE CON      6.10    04/27/23    CNY     52.90


   HONG KONG
   ---------

DR PENG HOLDING HONGKON      7.55    12/01/21    USD     71.55
HNA GROUP INTERNATIONAL      6.25    10/05/21    USD     54.33


   INDIA
   -----

3I INFOTECH LTD              2.50    03/31/25    USD      9.75
AMPSOLAR SOLUTION PVT L      0.01    10/27/37    INR     26.92
AMPSOLAR SOLUTION PVT L      0.01    11/03/37    INR     26.88
APG HABITAT PVT LTD          1.00    09/09/28    INR     60.52
APG INTELLI HOMES PVT L      1.25    02/04/35    INR     44.36
APG INTELLI HOMES PVT L      1.25    02/04/35    INR     42.26
AUTOMOTIVE EXCHANGE PVT      4.00    06/01/30    INR     63.09
AUTOMOTIVE EXCHANGE PVT      4.00    10/11/30    INR     62.85
BREEZE CONSTRUCTIONS PV      0.01    06/29/30    INR     44.46
BRITANNIA INDUSTRIES LT      8.00    08/28/22    INR     31.16
CHANDRAJYOTI ESTATE DEV      0.01    07/06/30    INR     47.08
CREIXENT SPECIAL STEELS      0.01    08/28/25    INR     68.72
CUMULUS TRADING CO PVT       0.01    01/23/30    INR     62.29
CUMULUS TRADING CO PVT       0.01    05/21/32    INR     39.17
DEWAN HOUSING FINANCE C      8.50    04/18/23    INR     28.36
DLF EMPORIO RESTAURANTS      0.01    06/29/30    INR     46.44
DLF EMPORIO RESTAURANTS      0.01    08/12/30    INR     45.99
DLF HOME DEVELOPERS LTD      0.01    06/29/30    INR     48.53
DLF HOMES SERVICES PVT       0.01    06/29/30    INR     44.46
DLF REAL ESTATE BUILDER      0.01    06/23/30    INR     47.05
DLF RESIDENTIAL BUILDER      0.01    06/23/30    INR     44.47
DLF RESIDENTIAL DEVELOP      0.01    06/28/30    INR     47.09
DLF SOUTHERN TOWNS PVT       0.01    07/09/30    INR     47.16
DOMUS REAL ESTATE PVT L      0.01    07/11/30    INR     47.15
EDELWEISS ASSET RECONST      2.00    03/28/27    INR     71.85
EDELWEISS ASSET RECONST      2.00    11/20/27    INR     69.50
EDELWEISS ASSET RECONST      2.00    10/07/28    INR     66.12
EDELWEISS ASSET RECONST      2.00    01/15/29    INR     65.13
EDELWEISS ASSET RECONST      2.00    07/22/29    INR     63.32
ESSAR POWER TRANSMISSIO      3.00    03/31/43    INR     48.35
ESSAR POWER TRANSMISSIO      3.00    03/31/43    INR     48.35
GREEN URJA PVT LTD           0.01    02/14/30    INR     48.36
GTL INFRASTRUCTURE LTD       6.73    10/26/22    USD      5.65
HINDUSTAN CONSTRUCTION       0.01    01/05/27    INR     61.32
HITODI INFRASTRUCTURE L      0.01    06/30/27    INR     57.46
JAIPRAKASH ASSOCIATES L      5.75    09/08/17    USD     55.13
JAIPRAKASH POWER VENTUR      7.00    05/15/17    USD      4.56
JCT LTD                      2.50    04/08/11    USD     25.75
JSM CORP PVT LTD             0.01    08/31/36    INR     28.72
JTPM ATSALI LTD              0.01    08/29/48    INR     13.66
KANAKADURGA FINANCE LTD      0.01    04/15/36    INR     27.46
KRIBHCO INFRASTRUCTURE       1.00    04/15/26    INR     71.43
MARIS POWER SUPPLY CO P      2.00    04/18/28    INR     68.47
MELOSA BUILDERS & DEVEL      0.01    06/29/30    INR     45.46
MENS BUILDCON PVT LTD        0.01    06/29/30    INR     45.46
MYTRAH AADHYA POWER PVT      0.01    07/05/35    INR     32.04
MYTRAH ADVAITH POWER PV      0.01    07/13/36    INR     29.72
MYTRAH AKSHAYA ENERGY P      0.01    07/13/36    INR     29.72
ORIGAMI CELLULO PVT LTD      0.01    11/14/36    INR     28.40
PRAKASH INDUSTRIES LTD       5.25    04/30/15    USD     22.63
PUNJAB INFRASTRUCTURE D      0.40    10/15/26    INR     70.75
PUNJAB INFRASTRUCTURE D      0.40    10/15/27    INR     65.95
PUNJAB INFRASTRUCTURE D      0.40    10/15/28    INR     61.43
PUNJAB INFRASTRUCTURE D      0.40    10/15/29    INR     57.24
PUNJAB INFRASTRUCTURE D      0.40    10/15/30    INR     53.39
PUNJAB INFRASTRUCTURE D      0.40    10/15/31    INR     49.88
PUNJAB INFRASTRUCTURE D      0.40    10/15/32    INR     46.69
PUNJAB INFRASTRUCTURE D      0.40    10/15/33    INR     43.97
PYRAMID SAIMIRA THEATRE      1.75    07/04/12    USD      0.26
R L FINE CHEM PVT LTD        0.10    08/19/36    INR     29.26
REDKITE CAPITAL PVT LTD      2.50    01/15/28    INR     71.74
REDKITE CAPITAL PVT LTD      2.50    03/30/29    INR     67.63
REI AGRO LTD                 5.50    11/13/14    USD      0.96
REI AGRO LTD                 5.50    11/13/14    USD      0.96
RELIANCE COMMUNICATIONS      6.50    11/06/20    USD      9.95
SAKET HOLIDAYS RESORTS       0.01    06/29/30    INR     47.10
SHIVAJI MARG MAINTENANC      0.01    06/28/30    INR     44.93
SINTEX INDUSTRIES LTD        3.50    05/25/22    USD     25.00
SURBHI INVESTMENTS & TR      2.50    10/21/28    INR     68.93
SUZLON ENERGY LTD            5.75    07/16/19    USD     24.85
SUZLON ENERGY LTD            5.75    07/16/19    USD     24.85
SVOGL OIL GAS & ENERGY       5.00    08/17/15    USD      0.61
TATA SMARTFOODZ LTD          0.01    07/15/25    INR     71.05
TN URJA PVT LTD              0.10    02/22/36    INR     31.21
VIDEOCON INDUSTRIES LTD      2.80    12/31/20    USD     28.88
WATSUN INFRABUILD PVT L      4.00    10/16/37    INR     60.47
WS T&D LTD                   0.10    03/24/29    INR     52.48
ZYDUS FOUNDATION             0.10    03/25/25    INR     72.11


   INDONESIA
   ---------

ABM INVESTAMA TBK PT         7.13    08/01/22    USD     63.34
ABM INVESTAMA TBK PT         7.13    08/01/22    USD     62.64
BERAU COAL ENERGY TBK P      7.25    03/13/17    USD     44.38
BERAU COAL ENERGY TBK P      7.25    03/13/17    USD     44.38
DELTA MERLIN DUNIA TEKS      8.63    03/12/24    USD     10.20
DELTA MERLIN DUNIA TEKS      8.63    03/12/24    USD      6.86
GAJAH TUNGGAL TBK PT         8.38    08/10/22    USD     68.28
MNC INVESTAMA TBK PT         9.00    05/11/21    USD     68.42


   JAPAN
   -----

AVANSTRATE INC               0.10    10/29/32    JPY      9.75
TKJP CORP                    0.58    03/26/21    JPY      2.02
TKJP CORP                    0.85    03/06/19    JPY      2.02
TKJP CORP                    1.02    12/15/17    JPY      0.50
UNIZO HOLDINGS CO LTD        0.85    05/26/23    JPY     74.87
UNIZO HOLDINGS CO LTD        0.80    11/29/23    JPY     71.76
UNIZO HOLDINGS CO LTD        0.89    05/29/24    JPY     69.44
UNIZO HOLDINGS CO LTD        1.10    11/28/24    JPY     67.42
UNIZO HOLDINGS CO LTD        0.99    11/27/26    JPY     63.00
UNIZO HOLDINGS CO LTD        1.50    11/26/27    JPY     61.88
UNIZO HOLDINGS CO LTD        1.20    05/28/27    JPY     61.48


   KOREA
   -----

ECOMAISTER CO LTD            2.00    10/11/22    KRW     66.73
HEUNGKUK FIRE & MARINE       5.70    12/29/46    KRW     45.55
JT CAPITAL FIRST ASSET       2.73    07/24/45    KRW     68.23
KIBO ABS SPECIALTY CO L      5.00    08/28/21    KRW     73.06
KIBO ABS SPECIALTY CO L      5.00    02/24/22    KRW     72.34
KIBO ABS SPECIALTY CO L      5.00    02/28/22    KRW     71.50
KIBO ABS SPECIALTY CO L      5.00    02/24/23    KRW     70.24
KIBO ABS SPECIALTY CO L      5.00    02/26/21    KRW     64.62
LOTTE CARD CO LTD            3.95    06/28/49    KRW     37.37
POSCO ENERGY CO LTD          5.21    08/29/43    KRW     61.02
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 SP      5.00    09/28/22    KRW     73.84
SINBO SECURITIZATION SP      5.00    06/29/22    KRW     73.76
SINBO SECURITIZATION SP      5.00    06/29/21    KRW     73.27
SINBO SECURITIZATION SP      5.00    12/27/21    KRW     72.18
SINBO SECURITIZATION SP      5.00    02/28/23    KRW     71.88
SINBO SECURITIZATION SP      5.00    03/20/23    KRW     71.73
SINBO SECURITIZATION SP      5.00    02/28/22    KRW     71.49
SINBO SECURITIZATION SP      5.00    12/25/23    KRW     69.69
SINBO SECURITIZATION SP      5.00    12/25/22    KRW     69.25
SINBO SECURITIZATION SP      5.00    10/24/23    KRW     69.23
SINBO SECURITIZATION SP      5.00    10/24/23    KRW     69.23
SINBO SECURITIZATION SP      5.00    11/21/23    KRW     69.10
SINBO SECURITIZATION SP      5.00    07/24/23    KRW     68.90
SINBO SECURITIZATION SP      5.00    08/29/23    KRW     68.47
SINBO SECURITIZATION SP      5.00    08/29/23    KRW     68.47
SINBO SECURITIZATION SP      5.00    09/26/23    KRW     68.16
SINBO SECURITIZATION SP      5.00    09/26/23    KRW     68.16
SINBO SECURITIZATION SP      5.00    09/26/23    KRW     68.16
SINBO SECURITIZATION SP      5.00    01/25/23    KRW     68.14
SINBO SECURITIZATION SP      5.00    06/27/23    KRW     67.98
SINBO SECURITIZATION SP      5.00    12/21/20    KRW     67.95
SINBO SECURITIZATION SP      5.00    07/24/22    KRW     66.71
SINBO SECURITIZATION SP      5.00    07/26/22    KRW     66.68
SINBO SECURITIZATION SP      4.00    12/25/23    KRW     66.62
SINBO SECURITIZATION SP      4.00    12/25/23    KRW     66.62
SINBO SECURITIZATION SP      5.00    08/29/22    KRW     66.22
SINBO SECURITIZATION SP      5.00    08/31/22    KRW     66.21
SINBO SECURITIZATION SP      5.00    09/26/22    KRW     65.90
SINBO SECURITIZATION SP      5.00    01/25/22    KRW     65.87
SINBO SECURITIZATION SP      5.00    01/26/22    KRW     65.87
SINBO SECURITIZATION SP      5.00    06/27/22    KRW     65.84
SINBO SECURITIZATION SP      5.00    02/23/22    KRW     65.74
SINBO SECURITIZATION SP      3.00    11/21/23    KRW     64.44
SINBO SECURITIZATION SP      5.00    03/21/21    KRW     63.99
SINBO SECURITIZATION SP      5.00    07/26/21    KRW     62.83
SINBO SECURITIZATION SP      5.00    08/31/21    KRW     62.06


   MALAYSIA
   --------

ASIAN PAC HOLDINGS BHD       3.00    05/25/22    MYR      0.53
BERJAYA CORP BHD             5.00    04/22/22    MYR      0.26
BERJAYA CORP BHD             2.00    05/29/26    MYR      0.11
ELK-DESA RESOURCES BHD       3.25    04/14/22    MYR      1.14
HIAP TECK VENTURE BHD        5.00    06/23/21    MYR      0.18
HUME INDUSTRIES BHD          5.00    05/29/24    MYR      1.01
MALAYAN FLOUR MILLS BHD      5.00    01/24/24    MYR      1.11
PENGURUSAN AIR SPV BHD       1.00    09/28/35    MYR     69.10
PMB TECHNOLOGY BHD           3.00    07/12/23    MYR      2.56
SENAI-DESARU EXPRESSWAY      1.35    12/31/30    MYR     74.02
SENAI-DESARU EXPRESSWAY      1.35    06/30/31    MYR     72.72
VIZIONE HOLDINGS BHD         3.00    08/08/21    MYR      0.03


   NEW ZEALAND
   -----------

PRECINCT PROPERTIES NEW      4.80    09/27/21    NZD      1.14


   PHILIPPINES
   -----------

BAYAN TELECOMMUNICATION     15.00    07/15/06    USD     22.75


   SINGAPORE
   ---------

ALAM SYNERGY PTE LTD        11.50    04/22/21    USD     72.50
ALAM SYNERGY PTE LTD         6.63    04/24/22    USD     58.39
APL REALTY HOLDINGS PTE      5.95    06/02/24    USD     68.39
ASL MARINE HOLDINGS LTD      3.00    03/28/25    SGD     46.25
ASL MARINE HOLDINGS LTD      3.00    10/01/26    SGD     46.25
BAKRIE TELECOM PTE LTD      11.50    05/07/15    USD      0.63
BAKRIE TELECOM PTE LTD      11.50    05/07/15    USD      0.63
BERAU CAPITAL RESOURCES     12.50    07/08/15    USD     32.01
BERAU CAPITAL RESOURCES     12.50    07/08/15    USD     32.01
BLD INVESTMENTS PTE LTD      8.63    03/23/15    USD      4.88
BLUE OCEAN RESOURCES PT      8.00    12/31/21    USD     30.06
BLUE OCEAN RESOURCES PT      8.00    12/31/21    USD     30.06
BLUE OCEAN RESOURCES PT      8.00    12/31/21    USD     30.06
ENERCOAL RESOURCES PTE       9.25    08/05/14    USD     45.75
ETERNA CAPITAL PTE LTD       7.50    12/11/22    USD     43.48
ETERNA CAPITAL PTE LTD       8.00    12/11/22    USD     22.86
EZRA HOLDINGS LTD            4.88    04/24/18    SGD      5.00
GEO COAL INTERNATIONAL       8.00    10/04/22    USD     44.01
GEO COAL INTERNATIONAL       8.00    10/04/22    USD     43.86
HYFLUX LTD                   4.60    09/23/19    SGD     10.00
HYFLUX LTD                   4.20    08/29/19    SGD     10.00
HYFLUX LTD                   4.25    09/07/18    SGD     10.00
INDO INFRASTRUCTURE GRO      2.00    07/30/10    USD      1.00
INNOVATE CAPITAL PTE LT      6.00    12/11/24    USD     18.00
JGC VENTURES PTE LTD        10.75    08/30/21    USD     38.00
MICLYN EXPRESS OFFSHORE      8.75    11/25/18    USD     24.16
MODERNLAND OVERSEAS PTE      6.95    04/13/24    USD     40.09
MULHACEN PTE LTD             6.50    08/01/23    EUR     46.06
MULHACEN PTE LTD             6.50    08/01/23    EUR     45.58
NT RIG HOLDCO PTE LTD        7.50    12/20/21    USD     60.00
ORO NEGRO DRILLING PTE       7.50    01/24/19    USD     14.50
OXLEY MTN PTE LTD            6.50    02/28/23    SGD     74.15
PACIFIC INTERNATIONAL L      8.50    11/16/20    SGD     48.20
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     62.03
SOECHI CAPITAL PTE LTD       8.38    01/31/23    USD     60.56
SSMS PLANTATION HOLDING      7.75    01/23/23    USD     56.72
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


   SRI LANKA
   ---------

SRI LANKA DEVELOPMENT B      5.66    05/01/23    USD     74.48
SRI LANKA DEVELOPMENT B      4.48    01/22/23    USD     74.10
SRI LANKA DEVELOPMENT B      4.29    01/22/23    USD     73.75
SRI LANKA DEVELOPMENT B      4.27    03/16/23    USD     72.67
SRI LANKA DEVELOPMENT B      4.17    05/01/23    USD     71.91
SRI LANKA DEVELOPMENT B      4.13    05/01/23    USD     71.83
SRI LANKA DEVELOPMENT B      6.87    01/22/25    USD     70.93
SRI LANKA DEVELOPMENT B      6.80    01/22/25    USD     70.73
SRI LANKA DEVELOPMENT B      6.75    01/22/25    USD     70.58
SRI LANKA DEVELOPMENT B      6.50    01/22/25    USD     69.85
SRI LANKA DEVELOPMENT B      6.02    01/22/25    USD     68.44
SRI LANKA DEVELOPMENT B      5.98    01/22/25    USD     68.32
SRI LANKA DEVELOPMENT B      4.91    01/22/25    USD     65.35
SRI LANKA GOVERNMENT IN      5.75    04/18/23    USD     73.10
SRI LANKA GOVERNMENT IN      5.75    04/18/23    USD     72.81
SRI LANKA GOVERNMENT IN      6.85    03/14/24    USD     72.12
SRI LANKA GOVERNMENT IN      6.85    03/14/24    USD     71.96
SRI LANKA GOVERNMENT IN      6.35    06/28/24    USD     71.35
SRI LANKA GOVERNMENT IN      6.35    06/28/24    USD     71.30
SRI LANKA GOVERNMENT IN      6.85    11/03/25    USD     69.81
SRI LANKA GOVERNMENT IN      6.85    11/03/25    USD     69.79
SRI LANKA GOVERNMENT IN      6.13    06/03/25    USD     69.25
SRI LANKA GOVERNMENT IN      6.13    06/03/25    USD     69.21
SRI LANKA GOVERNMENT IN      6.83    07/18/26    USD     68.61
SRI LANKA GOVERNMENT IN      6.83    07/18/26    USD     68.39
SRI LANKA GOVERNMENT IN      7.85    03/14/29    USD     67.57
SRI LANKA GOVERNMENT IN      7.85    03/14/29    USD     67.43
SRI LANKA GOVERNMENT IN      7.55    03/28/30    USD     66.32
SRI LANKA GOVERNMENT IN      6.75    04/18/28    USD     66.31
SRI LANKA GOVERNMENT IN      7.55    03/28/30    USD     66.28
SRI LANKA GOVERNMENT IN      6.20    05/11/27    USD     66.26
SRI LANKA GOVERNMENT IN      6.75    04/18/28    USD     66.21
SRI LANKA GOVERNMENT IN      6.20    05/11/27    USD     66.09
SRILANKAN AIRLINES LTD       7.00    06/25/24    USD     67.64


   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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