/raid1/www/Hosts/bankrupt/TCRAP_Public/201020.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 20, 2020, Vol. 23, No. 210

                           Headlines



A U S T R A L I A

CREATIVE AVNU: First Creditors' Meeting Set for Oct. 28
GARROWS CLOSE: First Creditors' Meeting Set for Oct. 29
HDT GROUP: Second Creditors' Meeting Set for Oct. 26
PEPPER I-PRIME 2020-1: S&P Assigns Prelim B (sf) Rating on F Notes
UBICAR PTY: First Creditors' Meeting Set for Oct. 28



I N D I A

ALFA ONE: CARE Keeps C Debt Rating in Not Cooperating Category
AMUL FEED: CARE Lowers Rating on INR10.40cr LT Loan to D
ANAND GLASS: CARE Keeps C Debt Rating in Not Cooperating
BEEHIVE ALCOVEB: Ind-Ra Moves BB Issuer Rating to Non-Cooperating
BHANDARI CHARITABLE: Ind-Ra Affirms 'B-' Bank Loan Rating

BIPICO INDUSTRIES: Ind-Ra Moves 'BB-' LT Rating to Non-Cooperating
BROOKS LABORATORIES: CARE Hikes Rating on INR29.41cr Loan to B
CBSI INDIA: Ind-Ra Moves BB+ LT Issuer Rating to Non-Cooperating
CH.GOWRI SHANKAR: Ind-Ra Moves BB+ Issuer Rating to NonCooperating
EMCEE ENGINEERING: CARE Keeps D Debt Ratings in Not Cooperating

FINFOOT LIFESTYLE: CARE Keeps D Debt Ratings in Not Cooperating
FLYWHEEL LOGISTICS: Insolvency Resolution Process Case Summary
FUTURE ENTERPRISES: CARE Cuts Rating on INR332cr Loan to D
GOYAL EDUCATIONAL: CARE Keeps D Debt Ratings in Not Cooperating
GURU RAGHAVENDRA: Ind-Ra Gives BB+ Issuer Rating, Outlook Stable

HERITAGE MAX: CARE Keeps D Debt Rating in Not Cooperating
INDIA GREEN: Moody's Rates $320MM Senior Secured Notes '(P)Ba3'
INDUS UNIVERSITY: Ind-Ra Affirms 'B' Bank Loan Rating
ISOLUX CORSAN: Ind-Ra Withdraws 'D' Long Term Issuer Rating
JET AIRWAYS: Creditors OK Resolution Plan After Months of Talks

JR TOLL: CARE Keeps D Debt Rating in Not Cooperating Category
K MEENAKSHI HATCHERIES: CARE Cuts Rating on INR4cr LT Loan to C
KRISHNA PAPER: Ind-Ra Keeps B- LT Issuer Rating in Non-Cooperating
KSP INC: Ind-Ra Affirms BB LongTerm Issuer Rating, Outlook Stable
LAXMISREE RICEMILL: CARE Cuts Rating on INR5.59cr Loan to C

LONGOWALIA YARNS: Ind-Ra Lowers Long Term Issuer Rating to 'BB+'
MM CASTINGS: Ind-Ra Keeps 'BB' LT Issuer Rating in Non-Cooperating
OPPO MOBILES: Ind-Ra Withdraws 'BB-' Issuer Rating, Outlook Stable
PARAYIL FOOD: Ind-Ra Moves BB+ LongTerm Rating to Non-Cooperating
RADHA-RUKMAN PACKAGES: CARE Cuts Rating on INR21.72cr Loan to C

RAIGANJ DALKHOLA: CARE Keeps D Debt Rating in Not Cooperating
S.A. IRON: CARE Keeps D Debt Ratings in Not Cooperating
S.D. RICE MILLS: Ind-Ra Moves B+ Issuer Rating to Non-Cooperating
SAALIM SHOES: Insolvency Resolution Process Case Summary
SCHOLARS INTERNATIONAL: Ind-Ra Keeps D Ratings in Non-Cooperating

SETUBANDHAN INFRASTRUCTURE: Ind-Ra Affirms 'D' LT Issuer Rating
SHARADA AYURVEDIC: CARE Lowers Rating on INR5.65cr LT Loan to C
UTTAM GALVA: Insolvency Resolution Process Case Summary
VUDDANDA SOLAR: CARE Reaffirms D Rating on INR10.82cr LT Loan
ZEE MEDIA: CARE Reaffirms C Rating on INR152cr Loans



I N D O N E S I A

PAN BROTHERS: Moody's Cuts CFR to Caa1, Outlook Negative


J A P A N

JTB CORP: To Close 20% of Outlets in Japan Amid Pandemic


M A L A Y S I A

AIRASIA GROUP: Unit out of Money, Needs US$120MM to Restart


S I N G A P O R E

KIDZANIA SINGAPORE: Owes SGD53MM to More Than 1,000 Creditors
RAFFLES INFRASTRUCTURE: Auditor Gives Qualified Opinion
SUPERPARK ASIA: Indoor Playground SuperPark Singapore Closes Down
XIHE HOLDINGS: Units Placed Under Interim Judicial Management


X X X X X X X X

[*] BOND PRICING: For the Week Oct. 12, 2020 to Oct. 16, 2020

                           - - - - -


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

CREATIVE AVNU: First Creditors' Meeting Set for Oct. 28
-------------------------------------------------------
A first meeting of the creditors in the proceedings of The Creative
Avnu Pty Ltd will be held on Oct. 28, 2020, at 10:00 a.m. via video
conference facilities.

Peter Hillig of Smith Hancock was appointed as administrator of
Creative Avnu on Oct. 16, 2020.

GARROWS CLOSE: First Creditors' Meeting Set for Oct. 29
-------------------------------------------------------
A first meeting of the creditors in the proceedings of Garrows
Close Pty Ltd in its own right and as the Bare Trustee Managing
Entity of the Joint Venture for the development of property, being
the land in Certificate of Title Volume 11525 Folio 209 and
Certificate of Title Volume 11525 Folio 210, will be held on Oct.
29, 2020, at 10:30 a.m. via telephone conference.

Gideon Isaac Rathner and Matthew Brian Sweeny of Lowe Lippmann were
appointed as administrators of Garrows Close on Oct. 19, 2020.


HDT GROUP: Second Creditors' Meeting Set for Oct. 26
----------------------------------------------------
A second meeting of creditors in the proceedings of HDT Group Pty
Ltd has been set for Oct. 26, 2020, at 11:00 a.m. at Suite 5.05,
Level 5, 377 Sussex Street, in Sydney, NSW.

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. 23, 2020, at 1:00 p.m.

Danny Vrkic of DV Recovery Management was appointed as
administrator of HDT Group on Sept. 18, 2020.

PEPPER I-PRIME 2020-1: S&P Assigns Prelim B (sf) Rating on F Notes
------------------------------------------------------------------
S&P Global Ratings assigned its preliminary ratings to eight
classes of prime residential mortgage-backed securities (RMBS) to
be issued by Permanent Custodians Ltd. as trustee of Pepper I-Prime
2020-1 Trust. Pepper I-Prime 2020-1 Trust is a securitization of
prime residential mortgages originated by Pepper Homeloans Pty
Ltd.

The preliminary ratings reflect:

-- S&P's view of the credit risk of the underlying collateral
portfolio, including S&P's view that the credit support is
sufficient to withstand the stresses it applies. The credit support
for the rated notes comprises note subordination and excess spread.
The assessment of credit risk takes into account the underwriting
standards and centralized approval process of the seller, Pepper
Homeloans.

-- The availability of a yield-enhancement reserve, amortization
reserve, and overcollateralization amount, which will all be funded
by excess spread to cover potential yield shortfalls and loss
reimbursements and to repay principal on the notes at various
stages of the transaction's term.

-- The extraordinary expense reserve of A$150,000, funded by
Pepper on or before closing, available to meet extraordinary
expenses. The reserve will be topped up via excess spread if
drawn.

-- S&P's expectation that the various mechanisms to support
liquidity within the transaction, including a liquidity facility
equal to 2.2% of the outstanding balance of the notes, and
principal draws, are sufficient under our stress assumptions to
ensure timely payment of interest.

-- Loss of income for borrowers in the coming months due to the
effects of COVID-19 might put upward pressure on mortgage arrears
over the longer term. S&P recently updated its outlook assumptions
for Australian RMBS in response to changing macroeconomic
conditions as a result of the COVID-19 outbreak. The collateral
pool as of the Aug. 30, 2020, cut-off date did not include any
loans that were under a COVID-19 hardship payment arrangement.
Nevertheless, S&P undertook additional cash-flow sensitivity
analysis to assess the rated notes' sensitivity to delays in
borrower payments should some loans enter hardship arrangements
following the cut-off date.

S&P Global Ratings acknowledges a high degree of uncertainty about
the evolution of the coronavirus pandemic. The current consensus
among health experts is that COVID-19 will remain a threat until a
vaccine or effective treatment becomes widely available, which
could be around mid-2021. S&P said, "We are using this assumption
in assessing the economic and credit implications associated with
the pandemic. As the situation evolves, we will update our
assumptions and estimates accordingly."

  PRELIMINARY RATINGS ASSIGNED

  Pepper I-Prime 2020-1 Trust

  Class       Rating         Amount (A$ mil.)
  A1-s        AAA (sf)       150.0
  A1-a        AAA (sf)       487.4
  A2          AAA (sf)        65.0
  B           AA (sf)         15.0
  C           A (sf)          11.9
  D           BBB (sf)         8.2
  E           BB (sf)          5.2
  F           B (sf)           3.8
  G           NR               3.5

  NR--Not rated.


UBICAR PTY: First Creditors' Meeting Set for Oct. 28
----------------------------------------------------
A first meeting of the creditors in the proceedings of Ubicar Pty
Ltd, Ubicar Insurance Pty Ltd, and Ubi Technology Pty Ltd, will be
held on Oct. 28, 2020, at 11:00 a.m. via a virtual meeting.

Liam William Paul Bellamy of Chan & Naylor was appointed as
administrator of Ubicar Pty on Oct. 15, 2020.




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

ALFA ONE: CARE Keeps C Debt Rating in Not Cooperating Category
--------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Alfa One
Hi-Tech Infra Private Limited (AOHT) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        5.00      CARE C; Issuer not cooperating;
   Facilities                      Based on best available
                                   information

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated August 21, 2019, placed the
rating(s) of AOHT under the 'issuer non-cooperating' category as
the company had failed to provide information for monitoring of the
rating. The company continues to be non-cooperative despite
repeated requests for submission of information through e-mails
dated September 4, 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 ratings assigned to the bank facilities of Alfa One Hi-Tech
Infra Private Limited (AOHT) continues to be tempered by weak
financial profile marked by negative net worth. The rating also
takes into account nil total operating income during FY19. The
rating is, however, underpinned by experienced promoters.

Detailed description of the key rating drivers

Updated for the information available from Registrar of Companies

Key Rating Weakness

* Weak financial risk profile: The company continues to register
nil total operating income in FY19. Further, the net worth of the
company had eroded and stood negative at INR5.58 crore as on March
31, 2019 due to unabsorbed carry forward losses.

Key Rating Strengths

* Experienced promoters: The promoter, Mr Luthufuddeen, has around
two decades of experience in various other businesses. Before
starting Alfa One Hi-Tech Infra Private Limited, Mr Luthufuddeen
was engaged in merchant trading and logistics business, based out
of Dubai. He entered the real estate business in 2008, through
AOGB, which has completed 2 residential projects ('Aquamarine' and
'Lamina') in Kannur (Kerala). AOGB also has a concrete ready-mix
division.

Alfa One Hi-Tech Infra Private Limited (AOHT) is a Kannur-based
company engaged in civil constructions for commercial and
residential buildings. Mr. Luthufuddeen P M, the promoter of AOHT,
promoted Alfa One Global Builders Private Ltd (AOGB) in the year
2008 for development of residential and commercial real estate
projects. Mr. Luthufuddeen, the managing director of AOHT, manages
the day-to-day operations of the company.

AMUL FEED: CARE Lowers Rating on INR10.40cr LT Loan to D
--------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of Amul
Feed Private Limited (AFPL), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       10.40      CARE D; Issuer not cooperating;
   Facilities                      Revised from CARE B+; Stable;
                                   ISSUER NOT COOPERATING on the
                                   basis of best available
                                   information

Detailed Rationale & Key Rating Drivers

CARE has been seeking information from AFPL 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, Amul Feed Private Limited has not paid the surveillance
fees for the rating exercise as agreed to in its Rating Agreement.
The rating on AFPL'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

Key Rating Weaknesses

* Ongoing delays in debt servicing: There are on-going delays in
the debt servicing of the company. The banker has confirmed that
there are ongoing delays in repayment of principal and interest of
the term loan account.

Amul Feed Private Limited. (AFPL) incorporated in September 1997 as
Ahmad Vyapar Pvt Ltd, (AVPL) to setup a trading business near Patna
and remained dormant thereafter. During December 2003, present
promoters took over the business of AVPL and rechristened as AFPL
and initiated a hatchery business. In recent past, the company has
completed a poultry feed production unit at Ranipur Chak- Patna
with an installed capacity of 43200 MTPA. The unit has started
operation from January 2015. This apart the hatchery has a
production capacity of 2,60,000 unit of eggs per month.

The day-to-day affairs of the company are looked after by Mr. Ashok
Kumar Singh (Director) with adequate support from other three
directors and a team of experienced personnel.


ANAND GLASS: CARE Keeps C Debt Rating in Not Cooperating
--------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Anand Glass
Works (AGW) continues to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        6.83      CARE C; Stable; Issuer not
   Facilities                      cooperating; Based on best
                                   available information

   Short Term Bank       1.52      CARE A4; Issuer not
   Facilities                      cooperating; Based on best
                                   available information

Detailed Rationale & Key Rating Drivers

CARE has been seeking no default statement from AGW to monitor the
ratings vide e-mail communications/ letters dated September 21,
2020, September 2, 2020 and numerous phone calls. However,  despite
repeated requests, the firm has not provided the no default
statement for monitoring the ratings. 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. The rating on AGW's bank
facilities will now be denoted as CARE C; Stable/CARE A4; 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(s).

The ratings take into account non-availability of requisite
information and no due-diligence conducted due to noncooperation by
Anand Glass Works 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. The rating, continue
to remain constrained by small and declining scale of operations,
weak financial risk profile and intense competition in the industry
due to low entry barriers. The ratings, however, continue to take
comfort from experienced promoters with long track record of
operations and positive industry outlook.

Detailed description of the key rating drivers

Key Rating Weaknesses

* Small and declining scale of operations: AGW's scale of
operations declined and remained small as marked by total operating
income of INR2.56 crore, during FY19 (refers to the period April 1
to March 31) as against INR13.20 crore in FY18 and INR19.42 crore
in FY17. The small scale of operations limits the firm's financial
flexibility in times of stress and deprives it of scale benefits.
Moreover, AGW's scale of operations remained fluctuating for the
period FY17-FY19 (refers to the period April 1 to March 31). The
same was mainly attributable to closure of factory from
February'18- September'19 on account of automation done in the
premise. The firm has registered total operating income of INR12.00
crore during 3MFY20 (refers to the period October'19 to December
31'19; based on provisional results).

* Weak financial risk profile: The profitability margins of the
firm stood weak during last three financial years (FY17-FY19) as
marked by below unity PAT margin. Also, the firm has incurred
losses in FY19 owing to no revenue generation due to closure of
factory for production. The capital structure of the firm stood
leveraged on past three balance sheet dates ending March 31,
'17-'19 on account of low partner's capital base coupled with high
debt levels on account of high reliance on external borrowings to
meet working capital requirements. Overall gearing ratio stood at
1.71x as on March 31, 2019 as against 1.81x as on March 31, 2018
mainly on account of new term loan availed by the firm to fund its
working capital requirements.

The debt coverage indicators of the firm as marked by interest
coverage of 0.46x and negative total debt to GCA stood weak during
FY19. This is on account of high interest cost, losses incurred by
the firm resulting in negative gross cash accruals.

* Intense competition in the industry due to low entry barriers:
AGW operates in a highly competitive industry marked by the
presence of a large number of players in the unorganized sector.
Further, with presence of various players, the same limits
bargaining power which exerts pressure on its margins.

Key Rating Strengths

* Experienced promoters with long track record of operations: AGW
is a family run business and its operations are currently being
managed by Mr. Rajendra Prasad Jain, Mr. Devendra Kumar Jain. Mr.
Rajendra Kumar Jain and Mr. Devendra Kumar Jain is a post graduate
and graduate by qualification, respectively, and have accumulated
vast experience of around four decades in glass industry through
his association with this entity and in individual capacity. AGW
has been operating in this business for almost two decades, which
aid in establishing a healthy relationship with both customers and
suppliers.

* Positive industry outlook: India's glass market has seen
significant growth in the last decade and continues to show
positive growth trend. Glass is one of the most widely used end
user products in daily households. Glassware which is used in
preparing flower pots, decorative glassware, table wares, lamps,
consumer durables, etc. saw its output rise by ~27% Q-o-Q in
Q3-FY19 and 14% Y-o-Y from Apr-Dec'18.

As per CARE Research, due to plastic ban imposed across various
states in India, we expect a demand growth for plastic's
alternative- glass, especially in the container glass segment.
Industries such as liquor, consumer foods, pharma, beverages, etc.
may see a shift from plastic to glass in the near term.

Anand Glass Works (AGW) was incorporated in 2001 as a partnership
firm and is currently managed by Mr. Rajendra Prasad Jain, Mr.
Devendra Kumar Jain. AGW is engaged in the manufacturing of glass
containers and tableware. The manufacturing facility of the firm is
located at Firozabad, Uttar Pradesh having an installed capacity of
40 tons of containers per day as on December 31, 2019. The products
manufactured are supplied to various companies and dealers based
PAN India. The firm is having three associate concerns namely;
"Firozabad Ceramics Private Limited(FCPL)", "Eagle Glass Deco
Private Limited" and "Raju Decorators". FCPL is engaged in the
manufacturing of glass containers. The latter two are engaged in
trading of glass ware etc.

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

The instrument-wise rating action is:

-- INR180 mil. Fund-based limit migrated to non-cooperating
     category with IND BB (ISSUER NOT COOPERATING) / IND A4+
     (ISSUER NOT COOPERATING) rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
October 11, 2019. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.

COMPANY PROFILE

Established in March 2013, Beehive Alcoveb is a wholesale
distributor of Indian-made foreign liquor and beer, country liquor
and has FL-2, CL-2, FL-2B licenses in Uttar Pradesh. It purchases
liquor from manufacturers and sells it to licensed retailers under
the strict excise policy.


BHANDARI CHARITABLE: Ind-Ra Affirms 'B-' Bank Loan Rating
---------------------------------------------------------
India Ratings and Research (Ind-Ra) has rated Bhandari Charitable
Trust's (BCT) bank facilities as follows:

-- INR47.7 mil. (reduced from INR 143.25 mil.) Bank loan affirmed
     with IND B-/Stable rating; and

-- INR 6.75 mil. Proposed bank loan* is withdrawn.

*The trust did not proceed with the instrument as envisaged

KEY RATING DRIVERS

The ratings reflect BCT's small scale of operations as indicated by
its total income of INR34.05 million, according to the provisional
financials of FY20 (FY19: INR33.40 million). The trust operates a
hostel facility for the students of the Indus University  (debt
rated at 'IND B'/Stable) in Ahmedabad. The number of students using
the hostel facility decreased to 217 in FY20 (FY19: 239) resulting
in the capacity utilization of the decreasing to 85% in FY20 (FY19:
87.55%).

BCT's debt service coverage ratio was weak in the range of
0.15x-0.91x over FY16-FY20 (FY20: 0.17x) due to its limited
operating profitability to service debt obligations. The trust's
already high debt burden (debt/current balance before interest,
depreciation and rent (CBBID)) increased further to 17x in FY20
from 8.22x in FY14 (FY19: 20x) due to a fall in CBBID to INR21.36
million in FY20 and a simultaneously increase in the debt levels

The trust's operating margins were volatile between 62%-71% over
FY16-FY20 due to an increase in key operating expenditure at a CAGR
of 25.51% against growth of total income at CAGR of 3.57%. Due to
high depreciation and interest costs, the trust has been incurring
net loss since FY15.

Liquidity Indicator – Poor: The trust's available funds declined
to INR3.4 million in FY20 (FY19: INR13.21 million). In FY20, the
available funds to cover the total debt deteriorated to 0.94%
(FY19: 3.44%) and the available funds to cover the total debt
servicing deteriorated to 2.76% (10.98%). However, the trust's
liquidity profile is supported by the timely infusion of funds in
the form of unsecured loans by its promoters (FY20: INR250.6
million).

The ratings, however, are supported by BCT's promoters who have an
experience of over 20 years. Furthermore, BCT has been receiving
financial support from the trustees and is likely to continue to do
so as and when required.

RATING SENSITIVITIES

Positive: Events that could, individually or collectively, for two
consecutive years, leads to a positive rating action are:

- an increase in the total income to above INR60 million with
improved and positive current balance

- the timely infusion of funds by the promoters in the form of
unsecured loans to support the liquidity profile

Negative: Events that could, individually or collectively, for two
consecutive years, leads to a negative rating action are:

- an unexpected fall in the student headcount to below 150 leading
to fall in total income below INR15 million

- delay in infusion of funds by the promoters in the form of
unsecured loans to support the trusts liquidity profile

COMPANY PROFILE

BCT has been registered under the society's Act in 1988 in
Ahmedabad, Gujarat. The trust provides separate hostels for boys
and girls to Indus University students which BCT manages under
Indus University campus. The hostel is spread over 13,164 square
feet.


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

The instrument-wise rating actions are:

-- INR35.6 mil. Term loan due on March 2023 migrated to non-
     cooperating category with IND BB- (ISSUER NOT COOPERATING)
     rating;

-- INR185 mil. Fund-based working capital limits migrated to non-
     cooperating category with IND BB- (ISSUER NOT COOPERATING) /
     IND A4+ (ISSUER NOT COOPERATING) rating; and

-- INR1 mil. Non-fund-based working capital limits migrated to
     non-cooperating category with IND A4+ (ISSUER NOT
     COOPERATING) rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
September 27, 2019. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.

COMPANY PROFILE

Bipico Industries (Tools), incorporated in 1972, manufactures
hacksaw blades and bandsaw blades.


BROOKS LABORATORIES: CARE Hikes Rating on INR29.41cr Loan to B
--------------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Brooks Laboratories Limited (BLL), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       29.41      CARE B; Stable; Revised from
                                   CARE D; Issuer Not Cooperating
                                   and removed from INC

   Short-term Bank
   Facilities            1.00      CARE A4 Revised from CARE D;
                                   Issuer Not Cooperating and
                                   removed from INC

Detailed Rationale & Key Rating Drivers

The revision in the ratings assigned to the bank facilities of BLL
takes into account the lender clarification stating that instances
of delays in servicing of the debt obligation (for both term loan
and working capital facilities) were on account of technical issues
on the bank's part. The ratings, derive strength from the
experienced and resourceful promoters, established track record of
operations, comfortable capital structure and reputed clientele.
The ratings, however, continue to remain constrained by the
continued losses at the PBILDT and cash level leading to weak debt
coverage indicators. The ratings are further constrained by the
concentrated revenue stream and highly competitive & regulated
nature of the industry.

Rating Sensitivities

Positive Factors

* Sustained improvement in scale of operations with total operating
income increasing to close to INR100 crore and
profitability at the PBILDT and cash levels.

* Maintaining the comfortable overall solvency position and
efficient working capital management.

Negative Factors

* Continued losses at the PBILDT and cash level.

* Any major debt funded capex or increase in dependence on working
capital borrowings resulting in deterioration of overall gearing
ratio to above 1x.

* Any significant funding support to the Vadodra unit after the
proposed carve-out.

* Significant reduction or discontinuance of the funding support
from the promoter going forward.

Detailed description of the key rating drivers

Key Rating Strengths

* Clarification from the lender on instances of delays observed in
the past: As per the account statements shared by the company at
the time of last review, there were instances of delays in
servicing of the debt obligation (for both term loan and working
capital facilities) by the company in the past, for which penal
interest was also charged by the bank. However, the lender has now
provided clarification stating that these delays had been due to
technical issue in the bank's system. Further, the company has also
shared additional account statements. Instances of delays observed
in those statements (and penal interest charged) also have been
confirmed by the lender to be on account of technical issues in the
bank's system and delay in implementation of the moratorium offered
by RBI in light of Covid-19.

* Experienced management: BLL is currently being managed by all the
directors collectively. Mr Atul Ranchal, Mr Rajesh Mahajan, Mr
Rajnish Kumar Bedi and Mr Deepak Mahajan have an industry
experience of around two decade each. Furthermore the other
directors of the company, Mr. Suresh Garg and Ms. Sonia Gupta, have
an industry experience of nearly two decades and around one and a
half decades respectively. Promoters have supported the operations
in the past through regular fund infusion. BLL received INR15.33
Cr. in FY20 from rights issue of shares to the promoter in FY20.
Further, the company also raised INR8.12 Cr. through issue of share
warrants to the promoters' relatives with INR5.55 Cr. received in
FY19 and the remaining INR2.57 Cr. in FY20.

* Established track record of operations and reputed clientele: BLL
has an industry presence of nearly two decades now, leading to
established relationships with the customers as well as suppliers.
The company is engaged in the manufacturing of pharmaceutical
formulations and is supplying to various reputed players. BLL has
floated a Joint Venture (JV) named Brooks Steriscience Private Ltd,
with another India based pharmaceutical player, Steriscience
Private Limited. BLL plans to carve out its Vadodra facility and
shift it to this JV. Around 73% stake will be held by BLL itself,
while remaining stake will be with the JV partner. The JV will
focus on making the plant (Vadodra) U.S. Food and Drug
Administration (USFDA) compliant, attaining additional regulatory
approvals along with adding some new products. Turnaround of the
Vadodra unit and requirement of funding support from BLL to this
JV, in the future, will remain a key rating sensitivity. BLL has
also floated a second JV (with BLL's share at ~44%) named
SteriBrooks Penems Pvt. Ltd, also with Steriscience Private
Limited, for marketing the products of the first JV in the export
markets. The operations of both entities are yet to begin.

* Comfortable capital structure: The capital structure of the
company continued to remain at a comfortable level as marked by
debt to equity and overall gearing ratios of 0.15x and 0.27x, as on
March 31, 2020 (PY: 0.16x and 0.30x, respectively).

Key Rating Weaknesses

* Modest; albeit, increasing scale of operations: The scale of
operation of the company has increased at a CAGR (Compound Annual
Growth Rate) of 12% on a year-on-year basis to INR70.06 cr. in FY20
from INR55.86 cr. in FY18. The same increased by ~22% in FY20 on
account of higher demand from the export market and domestic
customers. This was especially attributable to the increase in
demand at the new Vadodra unit which is continuously adding new
sales geographies (and regulatory approvals for the same). In
Q1FY21 (Unaudited), however, the total operating income of the
company declined by ~26%, on a year-on-year basis, to INR12.58 cr.
on account of logistics and supply chain disruptions in light of
Covid-19 which affected dispatches during the quarter.

* Losses at the PBILDT and cash level, leading to weak debt
coverage indicators: The company continues to incur high
operational expenses like those for obtaining of regulatory
approvals, selling in new geographies etc. at the new Vadodra unit
while sales from the unit have not yet picked up to cover these.
This led to continued losses at the PBILDT level in FY20 and FY19.
Consequently, the company also remained in losses at the net level.
Further, the company reported a cash loss of INR6.87 cr. in FY20 as
compared to INR8.45 cr. in FY19 (PY: INR11.12 cr.) The losses at
the PBILDT level continued in Q1FY21 (UA) also, with the company
reporting losses of INR0.13 Cr. during the period, compared to
losses of INR0.06 Cr. in the same period last year. This was mainly
on account of lower quantity sold while expenses did not decrease
proportionately. The cash losses reported by the company also
increased in Q1FY21 (UA), compared to the same period last year
[Rs.0.91 Cr., compared to 0.88 Cr. in Q1FY20 (UA)]. Losses at the
PBILDT and cash level have led to weak debt coverage indicators for
the company.

* Customer concentration risk: The customer base of the company is
concentrated with top five customers of the company contributing
~47% of the total operating income in FY20 (PY: ~77%). Any adverse
change in procurement policies of these customers may affect the
business of the company.

* Highly regulated and competitive nature of the industry: The
pharmaceutical industry is a closely monitored and regulated
industry and as such there are inherent risks and liabilities
associated with the products and their manufacturing. Regular
compliance with product and manufacturing quality standards of
regulatory authorities is critical for selling products across
various geographies. BLL is engaged in the manufacturing of
pharmaceutical formulations. The industry is characterized by a
high level of competition having presence of a large number of
small and big players.

Liquidity: Stretched: The current ratio and quick ratio of the
company stood weak as reflected by current ratio and quick ratio of
0.80x and 0.50x, respectively as on March 31, 2020 (PY: 0.65x and
0.44x respectively). The company had unencumbered cash & bank
balance of INR0.40 crore only as on March 31, 2020.  

The company has a total debt repayment obligation of INR2.87 cr. in
FY21, proposed to be met through the internal accruals and cash
flows generated. The company has availed the moratorium extant RBI
guidelines only for debt obligations due in March-August-2020
period pertaining to one of its two term loans and the working
capital limits. The average operating cycle of the company stood at
approximately (-) 2 days as on March 31, 2020 [(-) 20 days as on
March 31, 2019], with the gross operating cycle of ~131 days in
FY20 (almost at the same level as last year). The creditor days for
the company have historically remained high (125-153 days) in the
last three years. The average utilization of the working capital
limits also remained high at ~90% for the 12 months period ended
August- 2020. BLL received INR15.33 Cr. in FY20 from rights issue
of shares to the promoter in FY20. Further, the company also raised
INR8.12 Cr. through issue of share warrants to the promoters'
relatives with INR5.55 Cr. received in FY19 and the remaining
INR2.57 Cr. in FY20. The funds infused have lent support to the
liquidity profile of the company. Continuity of timely and need
based funding support by the promoters (and/or related parties)
shall remain a key rating sensitivity going forward.

The company was initially incorporated as Brooks Pharmaceuticals in
2000 and subsequently rechristened as BLL in 2002. BLL is engaged
in the contract manufacturing of pharmaceutical formulations at its
two manufacturing facilities, one each in Baddi (Himachal Pradesh)
and Vadodra (Gujarat). It is operating at a combined installed
capacity of 2.30 crore units per annum for liquid injection vials,
13.82 crore units per annum for tablets, 2.01 crore units per annum
for dry syrup, 5.76 crore units per annum for liquid injection
ampoules, 2.30 crore units per annum for eye/ear drops and 5.19
crore units per annum for dry powder injection from Baddi Plant and
2.50 crore units per annum for injections from Vadodara Plant as on
March 31, 2020. The products manufactured by the company find
application in various therapeutic segments including
antibacterial, anti-biotics, antigastric, anti-malarial,
life-saving drugs etc. BLL also supplies generic formulations on
tender basis in states like Gujarat, Jammu & Kashmir, Mumbai and
West Bengal. The company derived 3% of its income in FY20 from this
segment. The company also engages in export sales to Yemen,
Afghanistan etc. while some domestic sales are also being made
under self-owned brand. The proportion of income from these two
segments, however, remains low. BLL's plant in Gujarat has obtained
the EU-GMP (European Union Good Manufacturing Practices)
certification in December-2017. Further, both of BLL's
manufacturing plants are WHO-GMP certified by the World Health
Organisation (WHO) headquartered in Geneva.

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

The instrument-wise rating actions are:

-- INR75 mil. Fund-based limit migrated to non-cooperating
     category with IND BB+ (ISSUER NOT COOPERATING) / IND A4+
     (ISSUER NOT COOPERATING) rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
November 5, 2019. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.

COMPANY PROFILE

Incorporated in 2013, Bengaluru-based CBSI India is a manpower
supplier for backend processes of IT companies in India. Its major
customers include IBM India Private Limited, Wipro Limited,
Mindtree Ltd, Cognizant Technology Solution India Private Limited
and Capgemini India Private Limited.


CH.GOWRI SHANKAR: Ind-Ra Moves BB+ Issuer Rating to NonCooperating
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Ch.Gowri Shankar
Infra Build (India) Private Limited's Long-Term Issuer Rating to
the non-cooperating category. The issuer did not participate in the
rating exercise despite continuous requests and follow-ups by the
agency. Therefore, investors and other users are advised to take
appropriate caution while using the rating. The rating will now
appear as 'IND BB+ (ISSUER NOT COOPERATING)' on the agency's
website.

The instrument-wise rating actions are:

-- INR80 mil. Fund-based limits migrated to non-cooperating
     category with IND BB+ (ISSUER NOT COOPERATING) rating; and

-- INR150 mil. Non-fund-based limits migrated to non-cooperating
     category with IND A4+ (ISSUER NOT COOPERATING) rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
August 2, 2019. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.

COMPANY PROFILE

Established in 1986 as a proprietorship firm by Gowri Shankar,
Ch.Gowri Shankar Infra Build (India) is a special class civil
contractor and undertakes civil contract works for buildings,
warehouses, drainage systems and irrigation projects.


EMCEE ENGINEERING: CARE Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Emcee
Engineering Works (EEW) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       19.03      CARE D; Issuer not cooperating;
   Facilities                      Based on best available
                                   information

   Short Term Bank       6.00      CARE D; Issuer not cooperating;
   Facilities                      Based on best available
                                   information

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated July 3, 2019, placed the
rating(s) of EEW under the 'Issuer non-cooperating' category as
Emcee Engineering Works had failed to provide information for
monitoring of the rating. Emcee Engineering Works continues to be
non-cooperative despite repeated requests for submission of
information through emails, phone calls and email dated September
8, 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 3, 2019 the following were the
rating strengths and weaknesses:

Key Rating Weakness

* On-going delays in meeting of debt obligations: Emcee Engineering
Works has been liquidity issues hence couldn't able to meet its
debt obligations.

Emcee Engineering Works (EEW) was converted into proprietorship
concern in 1980 after the exit of Mr. K. Shanmugasundaram. In 1985,
EEW forayed into fabrication of heavy box, column, beam, auto
welding etc. (on job work) which are used in boiler manufacturing.
From 2005, the firm started fabrication of pressure parts
components such as water wall panel, coils, header, piping, loose
bends etc. required for boilers. In 2008, the firm commenced its
second unit in Mandaiyur Village, Pudukottai, and Tamil Nadu for
producing similar boiler components for BHEL.

FINFOOT LIFESTYLE: CARE Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Finfoot
Lifestyle Private Limited (FLPL) continues to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        9.84      CARE D; Issuer not cooperating;
   Facilities                      Based on best available
                                   information

   Short Term Bank       0.20      CARE D; Issuer not cooperating;
   Facilities                      Based on best available
                                   information

Detailed Rationale & Key Rating Drivers

CARE has been seeking information from FLPL to monitor the ratings
vide e-mail communications dated May 12, 2020, June 6, 2020, June
15, 2020, July 1, 2020, August 14, 2020, September 18, 2020 and
numerous phone calls. However,  despite repeated requests, the
company has not provided the requisite information for monitoring
the ratings. 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. The rating on FLPL'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 ratings.

The ratings take into account delays in servicing of debt
obligations.

Detailed description of the key rating drivers

At the time of last rating on July 1, 2019, the following were the
rating weaknesses (updated for the information available from
Registrar of Companies):

Key Rating Weaknesses

* Delays in debt servicing obligations: As per banker feedback and
term loan statements during last review, there were delays in
servicing debt obligation in the term loan facility.

FLPL, incorporated in 2011 was promoted by Pathak family of Pune.
However, the company commenced its operations in March, 2016. The
company is engaged in manufacturing of grey fabric and cotton cloth
at its facility located at Kolhapur, Maharashtra, having an
installed capacity to manufacture 10,000 metres of fabric per day.
CLR Facility Services Private Limited is the group company of FLPL
and offers facility management services across 8 states including
Maharashtra, Karnataka, Goa, Gujarat, Andhra, Delhi, Madhya Pradesh
and Tamil Nadu.

FLYWHEEL LOGISTICS: Insolvency Resolution Process Case Summary
--------------------------------------------------------------
Debtor: Flywheel Logistics Solutions Private Limited
        F-213/E-1, Old M B Road
        Lado Sarai, New Delhi 110030

Insolvency Commencement Date: October 6, 2020

Court: National Company Law Tribunal, New Delhi Bench

Estimated date of closure of
insolvency resolution process: April 4, 2021

Insolvency professional: Yogesh Mittal

Interim Resolution
Professional:            Yogesh Mittal
                         H No. 693, Sector 31
                         Faridabad
                         Haryana 121003
                         E-mail: mittalyogesh1982@gmail.com
                                 cirpflywheel@gmail.com

Last date for
submission of claims:    October 20, 2020


FUTURE ENTERPRISES: CARE Cuts Rating on INR332cr Loan to D
----------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Future Enterprises Limited (FEL), as:

                         Amount
   Facilities         (INR crore)    Ratings
   ----------         -----------    -------
   Non-Convertible       332.00      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       592.00      CARE D
   Debenture Issue       



   Non-Convertible     1,800.00      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 28,
2020 on its Non-convertible Debentures bearing ISIN INE623B07529
and INE623B07537. 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 23, 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 Non-convertible Debentures bearing ISIN INE623B07503,
INE623B07511, 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 INR24,713
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 23, 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
INR1,760 crore to INR719 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 INR550-650 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 INR5750 crore and INR3583 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
INR3,952 crore and subsequent debt repayment will help the company
to improve its capital structure. The company's debt level has
already come down from INR6,730 crore (excl. acceptances on LC) as
on Dec 31, 2019 to INR5,681 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 INR550-
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 INR550-650 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.


GOYAL EDUCATIONAL: CARE Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Goyal
Educational and Welfare Society (GEWS) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       12.00      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

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated August 20, 2019 placed the
ratings of GEWS under the 'issuer non-cooperating' category as
Goyal Educational & Welfare Society had failed to provide
information for monitoring of the rating. Goyal Educational &
Welfare Society continues to be non-cooperative despite repeated
requests for submission of information through e-mails, phone calls
and a letter/email dated September 21, 2020, September 22, 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.
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 ratings.

Detailed description of the key rating drivers

At the time of last rating on August 20, 2019 the following were
the rating weakness:

The rating takes into account the On-going delays in debt servicing
due to stressed liquidity position.

Goyal Educational and Welfare Society (GEWS) was established on
July 22, 2008 under the Haryana Registration and Regulation
Societies Act, 2012 with an objective to provide education services
by establishing and operating various educational institutions.
Initially, the society was promoted by Mr. Mahender Goyal who is
the president of the society and carries out the day to day affairs
with required support from other key members. The society is
running three institutions under the brand name "Rawal
Institutions" (RI) which includes Rawal Institute of Engineering
and Technology (RIET), Rawal Institute of Management (RIM) and
Rawal College of Education (RCE) established in 2008 in a single
campus offering varied courses. The day to day management of the
society is carried by Mr. Mahender Goyal (President), Mr. Anil
Rawal (Vice President), Mr. Surender Kumar Goyal (Joint Secretary)
and Mr. C.B Rawal. The society has employed experienced teaching
and administrative staff to run the courses in efficient manner.
GEWS has a total number of 188 employees which includes 118
teaching staff and 70 administrative staff.

GURU RAGHAVENDRA: Ind-Ra Gives BB+ Issuer Rating, Outlook Stable
----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has assigned Guru Raghavendra
Infrastructures (GRI) a Long-Term Issuer Rating of 'IND BB+'. The
Outlook is Stable.

The instrument-wise rating actions are:

-- INR50 mil. Fund-based working capital limit assigned with
     IND BB+/Stable/IND A4+ rating; and

-- INR300 mil. Non-fund-based working capital limit assigned with
     IND A4+ rating.

KEY RATING DRIVERS

The ratings reflect the modest credit metrics due to the
undertaking of largely debt-funded capex during FY18-FY20 for the
modernization and addition of machinery and expansion of
capacities. The net leverage (total adjusted net debt/operating
EBITDAR) deteriorated to 3.9x in FY20 (FY19: 2.6x), since the
company borrowed interest-free unsecured loans to the tune of
INR409.8 million to fund the working capital gap, resulting from
delayed receivables. However, the interest coverage (operating
EBITDA/gross interest expense) was stable at 3.74x in FY20 (FY19:
3.73x), supported by the improvement in the EBITDA levels to
INR158.74 million (INR119.78 million). Ind-Ra expects the credit
metrics to improve in the near term, considering the absence of any
debt-funded capex, and likely repayment of unsecured promoter loans
and other term loans. The numbers for FY20 are provisional in
nature.

The ratings are constrained by the geographical concentration of
the order book, as majority of the company's projects are in
Telangana and Andhra Pradesh. However, the promoter contends that
operating in a concentrated geography provides efficient control
and reduces the logistical expenses.

The ratings have not been notched down for the partnership nature
of business in view of the minimum capital undertaking received and
the absence of any instances of withdrawal of partner's capital
during FY19-FY20.

The ratings factor in GRI's medium scale of operations, as
indicated by revenue of INR1,827.5 million in FY20 (FY19:
INR1,228.5 million). The revenue increased due to increased
execution of civil work contracts and growth in the income
generated from the fuel retailing and stone crushing segments. The
company had an unexecuted, healthy order book position of
INR6,179.85 million as of June 2020 (3.38x of FY20 revenue).
Although the COVID-19-led disruptions are likely to exert pressure
on the execution of civil work orders, GRI's revenue is likely to
improve during FY21 owing to the healthy build-up of orders since
3QFY20.

The ratings are supported by GRI's healthy EBITDA margins. The
margin declined for the third consecutive year to 8.7% in FY20
(FY19: 9.8%; FY18:14.7%; FY17: 18.8%), primarily on account of a
steady rise in operating expenses, resulting from the overhead
expenses incurred for expanding the crushing capacity and
establishing retail fuel stations, and also due to the
sub-contracting of around 20% of the civil work projects for
feasibility purposes. The return on capital employed was 17.6% in
FY20 (FY19: 17.8%). Ind-Ra expects the EBITDA margin to remain at
FY20 levels over the near term, led by better order build-up in the
civil segment.

Liquidity Indicator - Adequate: The average maximum utilization of
working capital facilities was 68% during the 12 months ended June
2020. The company had unrestricted cash and cash equivalents of
INR3.7 million and fixed deposits of INR50 million at FYE20. GRI's
net cash cycle stretched to 31 days in FY20 (FY19: negative 54
days) due to the accumulation of high receivables at the end of the
year, resulting from delays in the receipt of funds from government
projects. However, as the bills were cleared subsequently, the
receivables position improved to INR524 million as of July 31, 2020
from INR899 million as on 31 March 2020. Due to the elevated
working capital requirements, led by high receivables, the cash
flow from operations continued to be negative at INR385 million in
FY20 (FY19: negative INR25 million). The repayment obligation of
INR90.1 million in FY21 will be paid out of the internal accruals
of the company. GRI had availed the Reserve Bank of
India-prescribed debt moratorium only for April-June 2020.

The ratings are also supported by the promoters' experience of over
two decades in the infrastructure segment, which help the company
obtain repeat orders on a subcontract basis.

RATING SENSITIVITIES

Negative: Any substantial decline in the scale, profitability and
credit metrics, resulting from slower-than-expected order execution
and/or stretched receivables could be negative for the ratings.

Positive: Steady project execution and timely receivables from
civil work orders while maintaining the scale of operations and
margins, along with the net leverage falling below 3.0x, all on a
sustained basis, could be positive for the ratings.

COMPANY PROFILE

GRI was established as a partnership concern in Hyderabad,
Telangana on 25 June 2006. The firm is promoted by Venkata Krishna
Reddy Daggumati along with his wife, Sreelatha Daggumati. The firm
was established to produce gravel using stone crushers and also
supply ready mix concrete. The firm entered into civil work in 2017
and provides services in irrigation works, hydro power,
construction of bridges and road works on sub-contract basis. GRI
also operates a fuel station on retail basis.


HERITAGE MAX: CARE Keeps D Debt Rating in Not Cooperating
---------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Heritage
Max Realtech Private Limited (HMRPL) continues to remain in the
'Issuer Not Cooperating' category.
                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Debentures-Non      400.00      CARE D; Issuer Not cooperating:
   Convertible                     based on best available
   Debentures                      information

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated April 3, 2018, placed the
ratings of HMRPL under the 'issuer non-cooperating' category as
HMRPL had not paid the surveillance fees for the rating exercise as
agreed to in its Rating Agreement. HRMPL continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a emails dated August
28, 2020, September 1, September 7, 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 ratings.

Detailed description of the key rating drivers

At the time of last rating on October 9, 2019 the following were
the rating weaknesses (updated for the information available on
Registrar of companies):

Key Rating Weaknesses

* Delays in servicing of the debt obligations: There have been
delays in the servicing of the due debt obligations of the
non-convertible debentures. There is a proposal to NCD and OCD
holders for extension of moratorium on interest. However, the same
is pending for approval.

Incorporated in 2015, HMRPL is promoted by Hines group and its
global pool of investors and Dreamhome Infrastructure Private
Limited (DIPL). Hines group is an international real estate group
with long track of operations of more than 58 years. DIPL is a
subsidiary of Conscient Infrastructure Private Limited (CIPL). CIPL
is the flagship company of the Conscient group, promoted by Mr.
Naresh Chand Jain, Mr. Rajesh Jain and Mr. Lalit Jain. The group
commenced operations in 1978 as a construction company and entered
into real estate development business in 2008.

HMRPL is an SPV that has been created for the purpose of execution
of a residential group housing project in Sector 59- Golf Course
Extension Road, Gurgaon. The project is expected to be completed by
March, 2022 and is proposed to be funded through infusion of funds
in the form of equity, OCDs and NCDs by Conscient group and Hines
group and its global pool of investors.


INDIA GREEN: Moody's Rates $320MM Senior Secured Notes '(P)Ba3'
---------------------------------------------------------------
Moody's Investors Service has assigned a (P)Ba3 rating to the
proposed 3.5-year USD senior secured notes of up to USD320 million
to be issued by India Green Energy Holdings (India Green).

The outlook is stable.

India Green will use the proceeds from the USD notes to subscribe
to seven-year non-convertible debentures (NCDs) to be issued by 11
restricted subsidiaries (RG3), which are either wholly-owned or
majority-owned subsidiaries of ReNew Power Private Limited (RPPL,
Ba2 corporate family rating, stable). At USD bond maturity, India
Green will exercise it put right to require the restricted
subsidiaries to redeem the NCDs, and the proceeds will be used to
repay the USD bond principal.

India Green is held by a trust and its ownership is not linked to
RPPL or its subsidiaries. India Green will not undertake any other
business activities other than investing or participating in
permitted transactions relating to the proposed NCDs.

Holders of the USD notes will benefit from a first ranking charge
over India Green's accounts and swap arrangements, as well as a
pledge over all of India Green's shares. The NCDs, which will be
held by the onshore custodian upon issuance, will not be part of
the security package.

RG3 will use the proceeds from the NCDs to refinance the existing
debt of its restricted subsidiaries, pay related transaction costs
and fund an INR7.5 billion loan (approximately USD100 million) to
its parent, RPPL.

As the holder of the NCDs, India Green will benefit from (1) an
irrevocable and unconditional parent guarantee from RPPL for the
entire term of the NCDs, (2) a first ranking charge over the
restricted subsidiaries' assets, project accounts and project
documents, and (3) a majority pledge over shares of the restricted
subsidiaries.

RG3's renewable energy projects are all located in India (Baa3
negative) and each restricted subsidiary will be liable as the
co-issuer for a portion of the NCDs and as a guarantor for the
balance. The 11 wholly or majority-owned subsidiaries that form the
restricted group include: (1) Renew Wind Energy (AP) Private
Limited, (2) Shruti Power Projects Private Limited, (3) Zemira
Renewable Energy Limited, (4) Renew Wind Energy (MP Three) Private
Limited, (5) Renew Wind Energy (Rajasthan Four) Private Limited,
(6) Renew Wind Energy (Maharashtra) Private Limited, (7) Bhumi
Prakash Private Limited, (8) Tarun Kiran Bhoomi Private Limited,
(9) Renew Wind Energy (AP 3) Private Limited, (10) Bidwal Renewable
Private Limited and (11) Pugalur Renewable Private Limited.

The provisional status of the rating will be removed upon the
completion of the transaction on satisfactory terms, including the
hedging arrangement, completion of the onshore debt issuance.

The rating assumes that RG3 will be released from any liabilities
associated with an outstanding INR loan, where some of the
restricted subsidiaries are co-obligors along with other RPPL
entities outside of RG3.

INDUS UNIVERSITY: Ind-Ra Affirms 'B' Bank Loan Rating
-----------------------------------------------------
India Ratings and Research (Ind-Ra) has taken the following rating
actions on Indus University's (IU) bank facilities:

-- INR15.9 mil. (reduced from INR97.75 mil.) Bank loan affirmed
     with IND B/Stable rating;

-- INR15.00 mil. Fund-based facility (overdraft) affirmed with
     IND A4 rating; and

-- INR 37.25 mil. Proposed bank loan* is withdrawn.

*The university did not proceed with the instrument as envisaged

KEY RATING DRIVERS

The affirmation reflects IU's continued small of operations, as
reflected by total income of INR285.81 million in FY20 (FY19:
INR296.64 million). IU's total income declined in FY20 because of
lower demand for engineering and management courses during the
year. The income is likely to improve over the medium term on the
back of the new commerce undergraduate programmes started by the
university in FY20. For the academic year 2020-21, IU's total
student headcount across institutes stood at 3,834 (FY20: 3,918),
recording a CAGR of 7% from FY16 levels. Tuition fees contributed
96.844% to the revenue over FY16-FY20. The financials for FY20 are
provisional in nature.

During the COVID-19-led lockdown, IU started online classes for all
of its courses. The university usually collects its fees on a
semi-annual basis before the start of each term. However, in view
of the pandemic-related disruptions, the university permitted its
students to pay fees on a monthly basis. The collection efficiency
has been 80% till September 2020. IU expects 100% students to pay
their fees by the end of the term, as the university holds the
right to withheld results if the fees are not paid.

The ratings factor in IU's modest operating margins. Furthermore,
the university's margins have been volatile over FY16-FY20,
fluctuating between 3%-15%. IU witnessed a net profit for the
second consecutive year in FY20. The university's net profit
increased to INR10.23 million in FY20 (FY19: INR6.23 million; FY18:
loss of INR 18.26 million), led by a decline in operating costs
over FY19-FY20. However, the current balance before interest,
depreciation and rent (CBBIDR) margin declined sharply to 9.37% in
FY20 (FY19: 14.68%) owing to the decline in the operating income.

The ratings are further constrained by IU's limited debt servicing
capabilities, as reflected by its high debt burden (debt/CBBIDR),
which rose to 2.2x in FY20 (FY19: 1.69x). However, the ratio is
likely to improve over the medium term, supported by the repayments
of the term loans. The debt service coverage ratio (DSCR) was
volatile during FY16-FY20, ranging between 0.20x- 3.20x. Ind-Ra
believes the debt burden is likely to remain manageable in the
medium term owing to the absence of debt-funded capex plans and the
repayment of existing loans.

Liquidity Indicator – Stretched: In FY20, IU's available funds
(cash and unrestricted investments) fell sharply to INR1.97 million
(FY19: INR10.92 million), providing a modest cover of 3.33% to the
total debt and 1% cover to the operating expenditure. The
university has a sanctioned overdraft facility of INR15 million and
it had not utilized any of it as of September 2020, which supports
the liquidity profile. IU had availed the Reserve Bank of
India-prescribed debt moratorium for March–August 2020. The
university has semi-annual repayments; the next repayment is due in
February 2021.

The ratings, however, are supported by IU's highly qualified and
experienced promoters. Furthermore, IU has been receiving financial
support from the trustees in the form of unsecured loans (FY20:
INR40.87 million). Ind-Ra expects the university to continue to
receive support from the trustees as and when required.

RATING SENSITIVITIES

Negative: Events that could, individually or collectively, for two
consecutive years lead to a negative rating action are:

• Unexpected fall in the student headcount to below 2,500,
leading
   to fall in the total income below INR200 million,

• Operating margins declining to/or below 5%,

• Debt/CBBIDR exceeding 6x.

Positive: Events that could, individually or collectively, for two
consecutive years lead to a positive rating action are:

• Maintaining total income above INR300 million,

• The CBBIDR margins rising to 20%-25%,

• Maintaining debt/CBBIDR below 5x

COMPANY PROFILE

IU is an approved private university registered under Section 22 of
the UGC Act. It owns a 16-acre campus in the western part of
Ahmedabad, Gujarat, and is managed by the Bhandari Charitable
Trust. IU has seven constituents that offer undergraduate,
postgraduate degrees and research programmes.


ISOLUX CORSAN: Ind-Ra Withdraws 'D' Long Term Issuer Rating
-----------------------------------------------------------
India Ratings and Research (Ind-Ra) has withdrawn Isolux Corsan
India Engineering & Construction Private Limited's (ICI) Long-Term
Issuer Rating of 'IND D (ISSUER NOT COOPERATING)'.

The instrument-wise rating actions are:

-- The 'IND D' rating on the INR665 mil. Fund-based facilities is

     withdrawn;

-- The 'IND D' rating on the INR6.050 bil. Non-fund-based
     facilities is withdrawn; and

-- The 'IND D' rating on the INR4.285 bil. Proposed working
     capital facilities are withdrawn.

KEY RATING DRIVERS

The ratings have been withdrawn following the National Company Law
Tribunal's decision to liquidate ICI as it will cease to exist post
liquidation.

COMPANY PROFILE

ICI is a subsidiary of the Spain-based Isolux Corsan Group. It was
incorporated in June 2008 for carrying out construction,
development, and maintenance of infrastructure projects in India.


JET AIRWAYS: Creditors OK Resolution Plan After Months of Talks
---------------------------------------------------------------
Reuters reports that Jet Airways would be acquired by an investor
consortium under a multi-million dollar resolution plan approved by
the carrier's creditors on Oct. 17.

According to Reuters, the plan submitted by a consortium of
London-based Kalrock Capital and UAE-based businessman Murari Lal
Jalan comes after months of talks over the airline's future and was
confirmed in a regulatory filing, which gave no details of the
deal.

A source close to the situation said the new owners had agreed to
pump in INR10 billion ($136 million) as working capital for the
revival of the airline, Reuters relates. Another INR10 billion will
be given to creditors over a period of five years.

Financial creditors of the airline will also get 10% stake in the
company, the source said, though the plan remains subject to
approvals from the bankruptcy court and the country's airline
regulator.

Jet -- which operated a fleet of more than 120 planes serving
dozens of domestic destinations and international hubs such as
Singapore, London and Dubai -- was forced in April 2019 to ground
all flights, crippled by mounting losses as it attempted to compete
with low-cost rivals.

After Jet halted operations at least 280 slots were vacant in
Mumbai and 160 in Delhi, which were then given to its rivals. The
revival plan is also based on getting some of these slots back.

"The plan is to ramp up slowly and to increase capacity gradually
as they will be starting afresh," the source, as cited by Reuters,
said. Any resumption of flights will likely not happen for between
three and six months at least.

Since its operations were halted the airline and its lenders had
been looking for suitors, Reuters says. Jet's financial and
operational creditors were owed nearly INR300 billion after the
operations were halted, Reuters notes.

                         About Jet Airways

Based in Mumbai, India, Jet Airways (India) Limited was one of
India's top airlines founded by Naresh Goyal.  It provided
passenger and cargo air transportation services as well aircraft
leasing services. It operated flights to 66 destinations in India
and international countries.  

Jet Airways on April 17, 2019, halted all flight operations after
its lenders rejected its plea for emergency funds.

On June 20, 2019, the National Company Law Tribunal (NCLT), Mumbai
Bench, accepted an insolvency petition against Jet Airways filed by
its creditors as they attempt to recover some of their dues.

Ashish Chhawchharia of Grant Thornton India has been named as the
resolution professional in the case.  Law firm Cyril Amarchand
Mangaldas will represent the interests of the lenders' consortium,
according to a Reuters report.

Creditors have filed claims worth INR30,907 crore, according to
Financial Express.  The RP has so far admitted claims worth over
INR14,000 crore.

JR TOLL: CARE Keeps D Debt Rating in Not Cooperating Category
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of JR Toll
Road Pvt Ltd continues to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long term Bank      389.00      CARE D; Issuer not cooperating;
   Facilities                      Based on best available
                                   Information

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated July 12, 2019 revised the
rating(s) of JR Toll Roads Private Limited under the 'issuer
noncooperating' category from CARE B (SO) on account of revision in
the credit rating of guarantor (i.e. Reliance Infrastructure
Limited, R-Infra; rated CARE D; Issuer not cooperating as on June
25, 2019). The rating was also put under INC category owing to
non-submission of material information by the client. JR Toll roads
continue to be non-cooperative despite repeated requests for
submission of information through emails dated August 7, September
2 and September 10, 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).

The rating has been reaffirmed on account of ongoing delays in debt
servicing. The company has not provided monthly 'No Default
Statement' (NDS) since January 2019.

Key Rating Weaknesses

* Corporate guarantee by R-Infra: R-infra had extended
unconditional and irrevocable corporate guarantee to JR Toll Roads
Private Limited. CARE had revised the credit rating assigned to the
guarantor to CARE D; Issuer not cooperating on account of on-going
delays in debt servicing, deterioration in the credit risk profile
owing to losses and non-submission of information by
R-infra.

* Delays in receipt of arbitration award and regulatory assets:
R-Infra had won Delhi Metro arbitration award against DMRC (Delhi
Metro Rail Corporation) worth INR5,300 crore including interest of
which R-Infra received INR678.42 crore as immediate relief to
ensure than no account of lenders of DAMEPL (Delhi Airport Metro
Express Private Limited) turns NPA. Hon'ble Delhi HC has directed
DMRC to service entire debt of DAMEPL worth INR1,618 crore. The
timely receipt of DMRC award is a key rating monitorable. Also, the
company had claims with regards to regulatory assets form the power
business and arbitration money expected from the road projects,
Mumbai Metro project and EPC business.

JR Toll Road Pvt Ltd is one the of 11 toll road projects executed
by R – Infra. R- Infra has 48% stake in JR Toll road project. The
project commenced commercial operations in July 2013 and was set up
with the objective to design, build and operate 52 km long four
lane NH11 road connecting Reengus in northern part of Rajasthan to
its capital city, Jaipur.

K MEENAKSHI HATCHERIES: CARE Cuts Rating on INR4cr LT Loan to C
---------------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of K
Meenakshi Hatcheries (MH), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        4.00      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 9, 2019, placed the
ratings of MH under the 'issuer noncooperating' category as company
had failed to provide information for monitoring of the rating. The
firm continues to be non-cooperative despite repeated requests for
submission of information through e-mails, phone calls and email
dated January 31, 2020 to September 8, 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 takes into account the non-availability
of requisite information due to non-cooperation by Meenakshi
Hatcheries with CARE's efforts to undertake a review of the
outstanding ratings as CARE views information availability risk as
key factor in its assessment of credit risk profile.

Detailed description of the key rating drivers

At the time of last PR dated July 9, 2019 the following were the
rating strengths and weakness:

Detailed description of the key rating drivers

Key Rating Weakness

* Constitution of the entity as a partnership with inherent risk of
withdrawal of capital and limited access to funding: MH, being a
partnership firm, is exposed to inherent risk of the partner's
capital being withdrawn at time of personal Contingency and firm
being dissolved upon the death/retirement/insolvency of the
partners. Moreover, partnership firm Business has restricted
avenues to raise capital which could prove a hindrance to its
growth.

* Intense competition: The firm has to stock shrimps for export
during the off season, thus increasing its inventory levels. Apart
from seasonality, Adverse climate conditions, lack of quality feed,
rampant diseases continue to pose risk in the raw material
procurement. Furthermore, due to limited value addition nature of
business and less technological input entry barriers are low. As a
Result, processed sea food industry is highly competitive with the
presence of a large number of Indian players as well as Players
from other international market. Furthermore, exports of sea food
is highly regulated, as exporters of sea food Have to meet various
regulations imposed by importing nations as well as imposed by the
Indian government.

Key Rating Strengths

* Experience of the partner for a decade in the shrimp hatchery
industry: MH is promoted by Mr BSSNV Krishna and his family
members. Mr BSSNV Krishna, managing partner, is a graduate and
has experience of more than decade in shrimp hatchery business as
he is actively involved in the day-to-day operations of MHPL. Mr B
Suryanarayana, partner, is a Post Graduate having more than a
decade of experience in shrimp hatchery business as he is one of
the directors of MHPL.

* Location advantage: The shrimp hatchery unit of the firm is
located at Bheemanipatnam, Visakhapatnam, Andhra Pradesh, which is
one of those areas where shrimps are abundantly available resulting
in lower logistic expenditure.

* Successful completion of the project and achieved reasonable
revenue: MH was established in the year 2015.The project was
concluded with the total cost of INR5 crore (against earlier
envisaged project cost of INR6.55 crore) funded through debt of
INR4.0 crore and partner's capital of INR1 crore. The firm has
successfully completed the project without any cost and time
overrun. During 9MFY17 (Provisional), the firm has achieved total
operating income of INR3 crore.

K Meenakshi Hatcheries (MH) was established in December 2015 and
promoted by Mr BSSNV Krishna and his family members. The firm has
started a shrimp hatchery unit. MH is doing hatchery (Shrimp) and
sell the shrimp seed to shrimp farmers located in and around Andhra
Pradesh. The process of shrimp seed production involves four stages
(Maturation, Spawning and Hatching, Larval rearing and post larval
rearing).It takes around 40 days for entire process to complete.
The firm has started commercial operations from April 2016 as
envisaged.


KRISHNA PAPER: Ind-Ra Keeps B- LT Issuer Rating in Non-Cooperating
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has maintained Shree Krishna
Paper Mills & Industries' (SKPML) Long-Term Issuer Rating of 'IND
B- (ISSUER NOT COOPERATING)' in the non-cooperating category and
has simultaneously withdrawn it.

The instrument-wise rating actions are:

-- INR250 mil. *Fund-based working capital limits maintained in
     the non-cooperating category and withdrawn; and

-- INR120 mil. **Non-fund-based working capital limits maintained

     in the non-cooperating category and withdrawn.

* Maintained to 'IND B- (ISSUER NOT COOPERATING)' before being
withdrawn.

** Maintained to 'IND A4 (ISSUER NOT COOPERATING)' before being
withdrawn.

KEY RATING DRIVERS

The ratings have been maintained in the non-cooperating category
because the issuer did not participate in the rating exercise
despite continuous requests and follow-ups by Ind-Ra.

Ind-Ra is no longer required to maintain the ratings, as it has
received a no-objection certificate from the lender. This is
consistent with the Securities and Exchange Board of India's
circular dated March 31, 2017 for credit rating agencies.

COMPANY PROFILE

Shree Krishna Paper Mills & Industries was incorporated in 1972 and
is listed on the Bombay Stock Exchange. The company manufactures
newsprint, and printing and writing paper at its Kotputli
(Rajasthan) unit, which has an installed capacity of 38,000 million
tons per annum.


KSP INC: Ind-Ra Affirms BB LongTerm Issuer Rating, Outlook Stable
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed KSP Inc's (KSP)
Long-Term Issuer Rating at 'IND BB' while resolving the Rating
Watch Negative (RWN). The Outlook is Stable.

The instrument-wise rating action is:

-- INR150 mil. Fund-based export related limits affirmed; Off RWN

     with IND BB/Stable/IND A4+ rating.

The resolution of the RWN follows KSP's resumption of business
activities post the COVID-19 led lockdown and a low impact of the
pandemic on the company's operations, as evinced by the revenue of
INR373.7 million by end-6MFY21. The company had an unexecuted order
book of INR700 million, as on 5 October 2020, providing moderate
revenue visibility of 1.05x.

KEY RATING DRIVERS

The affirmation reflects KSP's continued medium scale of operations
as reflected by revenue of INR662.26 million in FY20 (FY19:
INR759.23 million). The decline in revenue in FY20 was due to the
loss of a client. However, Ind-Ra expects the revenue to improve in
FY21 backed by increased demand owing to customers preferring to
spend more time in their homes and tending to their gardens and/or
lawns, than socializing outside in the wake of the pandemic.
However, sustainability of the revenue growth is a key monitorable
as the demand for the product is discretionary in nature. FY20
financials are provisional in nature.

Liquidity Indicator- Stretched: KSP had low cash and cash
equivalents of INR7.37 million as at FYE20 (FYE19: INR19.16
million) and has principal repayment obligation of INR1.54 million
in FY21. Its average maximum utilization of the fund-based limits
was comfortable at 76.10% for the 12 months ended September 2020.
The firm's cash flow from operations improved substantially, for
the first time over FY16-FY20, to INR115.90 million in FY20 (FY19:
INR29.98 million) owing to favorable changes in the working capital
cycle. With an expected improvement in top line and healthy
profitability, the agency expects KSP's cash flow from operations
to remain positive in FY21. The company's lack of access to capital
markets, as well as its inability to absorb any shock has further
stretched its liquidity position.

The ratings are also constrained by KSP's partnership nature of
business.

The ratings, however, are supported by KSP's healthy margin, which
expanded to 14.39% in FY20 (FY19: 13.31%) with return on capital
employed at 33% (43%). The margin improved in FY20 owing to an
increase in the operating income and a reduction in the operating
expense. Ind-Ra expects the company's margins to stay healthy in
the near term as the company manufactures high-margin products.

The ratings are also supported by the company's continued strong
credit metrics in FY20 with the interest coverage (operating
EBITDA/gross interest expense) at 12.21x (FY19: 11.57x) and net
leverage (adjusted net debt/operating EBITDA) at 0.76x
(FY19:1.17x). The improvement in credit metrics is attributable to
a significant reduction in debt to INR80.03 million in FY20 (FY19:
INR137.44 million) and improved margins. The agency expects the
credit metrics to remain strong in the near term, as the company
does not have any major capex plans.

RATING SENSITIVITIES

Positive: A significant improvement in the revenue and liquidity
profile while maintaining the strong credit metrics would be
positive for the ratings.

Negative: A decline in the revenue, liquidity profile and/or
interest coverage falling below 1.8x would be negative for the
ratings.

COMPANY PROFILE

Founded in 1977, KSP is engaged in the manufacturing and trading of
lawn and garden decorative items such as garden products, wrought
iron furniture, garden arches, garden fences, bird feeders,
furniture, among others. The firm exports these items to Europe,
the United Kingdom, and North America. The company is promoted by
Puneet Berry and his family.


LAXMISREE RICEMILL: CARE Cuts Rating on INR5.59cr Loan to C
-----------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Laxmisree Ricemill Private Limited (LSRMPL), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        5.59      CARE C; Stable; Issuer not
   Facilities                      cooperating; Revised from
                                   CARE B-; Stable; ISSUER NOT
                                   COOPERATING on the basis of
                                   best available information

   Short term Bank       1.05      CARE A4; Issuer Not
   Facilities                      Cooperating; Based on best
                                   available information

Detailed Rationale & Key Rating Drivers

CARE has been seeking information from LSRMPL to monitor the
ratings vide e-mail communications/letters dated September 14,
2020, September 15, 2020, September 16, 2020 and numerous phone
calls. However,  despite repeated requests, the entity has not
provided the requisite information for monitoring the ratings. In
line with the extant SEBI guidelines, CARE has reviewed the ratings
on the basis of the publicly available information which, however,
in CARE's opinion is not sufficient to arrive at a fair rating.
Further, Laxmisree Ricemill Private Limited has not paid the
surveillance fees for the rating exercise as agreed to in its
Rating Agreement. The ratings on LSRMPL's bank facilities will now
be denoted as CARE C; Stable; ISSUER NOT COOPERATING /CARE A4;
ISSUER NOT COOPERATING. Further, the banker could not be
contacted.

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

Detailed description of the key rating drivers

At the time of last rating in July 05, 2019 the following were the
rating strengths and weaknesses:

Key Rating Weaknesses

* Short track record with small scale of operation with low profit
margins: The company is into rice milling business since November
2013 and thus has short track record of operations. Furthermore,
the scale of operations of the company remained small marked by
total operating income of INR37.23 crore with a PAT of INR0.34
crore in FY19. In FY19, the company has booked turnover of around
INR37.23 crore as maintained by the management. The small size
restricts the financial flexibility of the company in times of
stress and deprives it from benefits of economies of scale.

* Regulation by Government in terms of minimum support price (MSP):
The Government of India (GOI), every year decides a minimum support
price (MSP – to be paid to paddy growers) for paddy which limits
the bargaining power of rice millers over the farmers. The MSP of
paddy has increased during the crop year 2020-21 to INR1868/quintal
(as suggested by the Commission for Agricultural Costs and Prices,
the apex body to advice on MSP to the government) from
INR1815/quintal in crop year 2019-20. Given the market determined
prices for finished product vis-à-vis fixed acquisition cost for
raw material, the profitability margins are highly vulnerable. Such
a situation does not augur well for the company, especially in
times of high paddy cultivation.

* Seasonal nature of availability of raw material resulting in
working capital intensity and exposure to vagaries of nature: Agro
product processing business is working capital intensive as the
millers have to stock paddy by the end of each season till the next
season as the price and quality of agro products are better during
the harvesting season. Accordingly, the working capital intensity
remains high impacting company's profitability. Also, agro products
cultivation is highly dependent on monsoons, thus exposing the fate
of the company's operation to vagaries of nature.

* Moderately leveraged capital structure with moderate debt
coverage indicators: The capital structure of the company remained
moderately leveraged marked by overall gearing ratio of 1.42x as on
March 31, 2019. Furthermore, the debt coverage indicators also
remained moderate marked by interest coverage ratio of 2.67x
and total debt to GCA at 5.58 in FY19. The interest coverage ratio
has improved in FY19 on account of higher increase in PBILDT level
and decrease in interest costs. Furthermore the total debt to GCA
also improved in FY19 on account of improvement in cash accruals
from the business.

* Fragmented and competitive nature of the industry: LSRMPL's plant
is located in Birbhum, West Bengal which is in close proximity to
hubs for paddy/rice cultivating region. Owing to the advantage of
close proximity to raw material sources, large number of small
units is engaged in milling and processing of rice in the region.
This has resulted in intense competition which is also fuelled by
low entry barriers. Given that the processing activity does not
involve much of technical expertise or high investment, the entry
barriers are low.

Key Rating Strengths

* Experienced promoters: The key promoter, Mr. Sanjoy Ghosh has
around 12 years of experience in rice milling industry through his
partnership firm 'Laxmi Sree Rice Mill, looks after the overall
management of the company supported by other director, Mr. Chitta
Ranjan Ghosh (aged 66 years, M.Com) having an experience of more
than four decades in the agro-commodity and chemical business. The
company is deriving benefits out of the long experience of the
promoters.

* Close proximity to raw material sources and favourable industry
scenario: LSRMPL's plant is located at Birbhum, West Bengal which
is close to the vicinity to a major rice growing area of West
Bengal. The entire raw material requirement is met locally from
local farmers/agents which helps the company to save substantial
amount of transportation cost and also procure raw materials at
effective price. Further, rice being a staple food grain with
India's position as one of the largest producer and consumer,
demand prospects for the industry is expected to remain good in
near to medium term.

Laxmi Sree Rice Mill Private Limited (LSRMPL) was incorporated in
November 2013 by taking over their existing partnership firm 'M/s
Laxmi Sree Rice Mill' which was into rice milling business since
2006. The company was promoted by Mr. Sanjoy Ghosh and Mr. Chitta
Ranjan Ghosh. Since its inception, the company has been engaged in
processing and milling of non-basmati rice. The manufacturing
facility of the company is located at Birbhum, West Bengal with
aggregate installed capacity of 37500 metric ton per annum, which
is in the vicinity to a major rice growing area. Mr. Sanjoy Ghosh
has around 12 years of experience in rice milling industry, looks
after the overall management of the company along with Mr. Chitta
Ranjan Ghosh who has 41 years of experience in transportation,
construction materials and rice milling industry.

LONGOWALIA YARNS: Ind-Ra Lowers Long Term Issuer Rating to 'BB+'
----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded Longowalia Yarns
Limited's (LYL) Long-Term Issuer Rating to 'IND BB+' from 'IND
BBB-'. The Outlook is Stable.

The instrument-wise rating actions are:

-- INR680 mil. Fund-based working capital limits downgraded with

     IND BB+/Stable/IND A4+ rating;

-- INR180 mil. (reduced from INR288.41 mil.) Term loans due on
     September 2023 downgraded with IND BB+/Stable rating; and

-- INR140 mil. Non-fund-based working capital limits downgraded
     with IND A4+ rating.

The downgrade reflects deterioration in LYL's liquidity position in
FY20 on account of the persisting slowdown in the textile sector,
coupled with the ongoing economic slowdown exacerbated by the
COVID-19-led business disruptions.

KEY RATING DRIVERS

Liquidity Indicator - Stretched: The company's average maximum
utilization of the fund-based and non-fund-based limits was 96% and
77%, respectively, over the 12 months ended September 2020. The net
working capital cycle remained elongated at 101 days in FY20 (FY19:
76 days), due to an increase in receivable period to 57 days (33
days) because of a slow recovery from the debtors, resulting from
the COVID-19 led lockdown. LYL's cash flow from operations turned
positive to INR 84.34 million in FY20 (FY19: negative INR3.71
million) due to its high working capital requirement. At FYE20,
LYL's cash and cash equivalents stood at INR13.15 million (FYE19:
INR5.85 million). The company has availed of the Reserve Bank of
India-prescribed moratorium over March to August 2020 under the
COVID-19 relief package. FY20 financials are provisional.

LYL had INR60 million of unutilized fund-based limits as of October
9, 2020. The company's ability to improve the working capital cycle
and maintain its liquidity will remain a key rating sensitivity.

In FY20, the revenue declined to INR2,683.31 million in FY20 (FY19:
INR3,447.12 million) on account of the slow realization of debtors
and a decline in the number of orders received. The company's scale
of operations remains medium. Ind-Ra expects revenue of INR2,000
million-2,300 million in FY21. Despite the decline in revenue, the
EBITDA margin improved to 8.25% in FY20 (FY19: 6.29%) because of a
decline in other manufacturing expenses and raw material cost.
LYL's EBITDA margin continues to be modest with a return on capital
employed of 7.6% in FY20 (FY19: 7.5%).

The credit metrics continued to be modest with the interest
coverage (operating EBITDAR/gross interest expense + rents) of
1.94x in FY20 (FY19: 1.97x) and net leverage (total adjusted net
debt/operating EBITDAR) of 4.45x (4.35x). The improvement in the
credit metrics was on account of a decline in EBITDA to INR221.8
million in FY20 (FY19: INR238 million). Ind-Ra expects the credit
metrics to remain modest in FY21 due to high scheduled repayment of
INR180 million and a likely decline in the absolute EBITDA.
The ratings are also constrained by LYL's susceptibility to
volatility in raw cotton price and revenue concentration risk as
its top 10 customers contributed about 33% to the revenue in FY20.

However, the ratings are supported by the promoters' one decade of
experience in the textile industry.

RATING SENSITIVITIES

Positive: An improvement in the liquidity position while
maintaining the revenue and the EBITDA margin, leading to the net
leverage reducing below 3.75x, all on a sustained basis, will be
positive for the ratings.

Negative: Inability to improve the liquidity position or a decline
in the revenue and the EBITDA margin, resulting in the net leverage
sustaining above 3.75x  will be negative for the ratings.

COMPANY PROFILE

LYL, incorporated in 1994, manufactures yarn and fabric and is also
into the trading of yarn and fabric.


MM CASTINGS: Ind-Ra Keeps 'BB' LT Issuer Rating in Non-Cooperating
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has maintained MM Castings
Private Limited's Long-Term Issuer Rating of 'IND BB (ISSUER NOT
COOPERATING)' in the non-cooperating category and has
simultaneously withdrawn it.

The instrument-wise rating actions are:

-- INR270 mil. *Fund-based working capital limits maintained in
     non-cooperating category and withdrawn;

-- INR30 mil. Term loan** due on December 31, 2021 maintained in
     non-cooperating category and withdrawn; and

-- INR80 mil. Non-fund-based working capital limits*** maintained

     in non-cooperating category and withdrawn.

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

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

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

KEY RATING DRIVERS

The ratings have been maintained in the non-cooperating category
because the issuer did not participate in the rating exercise
despite continuous requests and follow-ups by Ind-Ra.

Ind-Ra is no longer required to maintain the ratings, as the agency
has received a no-objection certificate from the lenders. This is
consistent with the Securities and Exchange Board of India's
circular dated March 31, 2017 for credit rating agencies.

COMPANY PROFILE

MM Castings manufactures alloy steel casting products.


OPPO MOBILES: Ind-Ra Withdraws 'BB-' Issuer Rating, Outlook Stable
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has withdrawn Oppo Mobiles
India Private Limited's (Oppo) Long-Term Issuer Rating of 'IND
BB-'.  The Outlook was Stable.

The instrument-wise rating action is:

-- INR7 mil. Non-convertible debentures (NCDs) ISIN INE793V08021
     issued on September 30, 2016 3% coupon rate due on September
     30, 2020 is withdrawn.

KEY RATING DRIVERS

Ind-Ra is no longer required to maintain the NCD rating, as the NCD
have been paid in full. Consequently, the Long-Term Issuer Rating
has been withdrawn too.

COMPANY PROFILE

Incorporated in November 2013, OPPO is engaged in the manufacturing
and selling of smartphones and wholesale trading of mobile spare
parts and accessories.


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

The instrument-wise rating actions are:

-- INR6.93 mil. Term loan due on March 2021 migrated to non-
     cooperating category with IND BB+ (ISSUER NOT COOPERATING)
     rating;

-- INR120 mil. Fund-based working capital limits migrated to non-
     cooperating category with IND BB+ (ISSUER NOT
     COOPERATING) / IND A4+ (ISSUER NOT COOPERATING) rating; and

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

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
August 20, 2019. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.

COMPANY PROFILE

Kerala-based Parayil Food Products processes and exports marine and
agro foods such as frozen fish, vegetables, rice, and flour items.
It largely exports to the UK and the US.


RADHA-RUKMAN PACKAGES: CARE Cuts Rating on INR21.72cr Loan to C
---------------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Radha-Rukman Packages Private Limited (RPL), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       21.72      CARE C; Stable; Issuer not
   Facilities                      cooperating; Revised from
                                   CARE B-; Stable; ISSUER NOT
                                   COOPERATING on the basis of
                                   best available information

   Short term Bank       0.50      CARE A4; Issuer Not
   Facilities                      Cooperating; Based on best
                                   available information

Detailed Rationale & Key Rating Drivers

CARE has been seeking information from RPL to monitor the rating
vide e-mail communications/letters dated September 8, 2020,
September 10, 2020, September 15, 2020 and numerous phone calls.
However,  despite repeated requests, the entity has not provided
the requisite information for monitoring the ratings. 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, Radha-Rukman Packages Private Limited has not paid the
surveillance fees for the rating exercise as agreed to in its
Rating Agreement. The rating on RPL's bank facilities will now be
denoted as CARE C; ISSUER NOT COOPERATING and CARE A4; ISSUER NOT
COOPERATING. Further due diligence could not be conducted.

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

The rating has been revised on account of deterioration in overall
financial risk profile marked by year on year decline in total
operating income and incurred net loss in FY19 which has eroded
tangible networth of the company.

Detailed description of the key rating drivers

At the time of last rating in July 25, 2019 the following were the
rating strengths and weaknesses: (Updated the information available
from Ministry of Corporate Affairs)

* Small scale of operation: The scale of operations remained small
marked by total operating income of INR0.16 crore (FY18: 3.98
crore) with a net loss of INR1.36 crore (net loss of INR0.50 core
in FY18) in FY19.

* Volatility in raw material prices: The major raw materials used
by RPL are waste paper, kraft paper, ink, adhesives etc., which are
procured primarily from the local market. The prices of these raw
materials are volatile in nature. Accordingly, the price volatility
of the raw materials is an area of concern for the company.
Furthermore, as the industry is highly competitive with presence of
many players, it is difficult to pass on the input price hike to
its customers, which may put pressure on margins of RPL.

* Presence in fragmented and competitive industry: The packaging
and printing industry is highly fragmented in nature with presence
of large number of unorganized players due to low entry barriers.
Furthermore, the industry is price competitive as the end user
segment mainly comprises industries with bulk requirement and
better bargaining power. This coupled with RPL being a small player
in the industry with small scale of operations makes it difficult
for the company to have pricing flexibility.

Key Rating Strengths:

* Experienced promoters in the printing & packaging industry: RPL
has been promoted by Shri Govardhan Lal Sikaria and his family. He
has an experience of more than five decades in the field of
packaging and printing. He looks after the overall management of
the company along with other directors of the company, Shri Kundan
Sikaria (Graduate), Smt. Shakuntala Sikaria (Graduate), and Smt.
Shradha Sikaria (Graduate), all having vast experience in same line
of activities.

RPL was incorporated in August, 2008 and was promoted by Shri
Govardhan Lal Sikaria and his family members based out of Kolkata.
The company, after remaining dormant for three years, commenced
operation from January 2012. RPL is engaged in the manufacturing of
corrugated & duplex boxes and providing offset printing services.

RAIGANJ DALKHOLA: CARE Keeps D Debt Rating in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Raiganj
Dalkhola Highways Limited (RDHL) continues to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long term Bank       321.63     CARE D; Issuer not cooperating;
   Facilities                      Based on best available
   (Term Loan)                     Information

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated April 6, 2018 placed the
rating(s) RDHL under the 'Issuer non-cooperating' category as RDHL
had failed to provide information for monitoring of the rating.
RDHL continues to be non-cooperative despite repeated requests for
submission of information through emails dated August 31, 2020,
September 2, 2020, September 4, 2020, September 8, 2020, September
14, 2020 and September 16, 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).

The rating has been reaffirmed on account of ongoing delays in debt
servicing and non-submission of material information required for
our periodic review exercise.

Detailed description of the key rating drivers

Key Rating Weaknesses

* On-going delay in servicing of debt obligations: As per the
lender interaction, there are on-going delays in servicing of debt.
Account has been in NPA since 2017.

* On-going Arbitration Proceedings: The company has also put a
claim on National Highways Authority of India for losses incurred
by the company owing to delays in receipt of RoW which is in midst
of arbitration proceedings.

Incorporated on March 11, 2010, RDHL is a special purpose vehicle
(SPV) promoted by HCC (rated CARE D for its bank facilities and
instruments) and HCC Concessions Limited (HCL) - step-down
subsidiary of HCC - to undertake the augmentation of the existing
stretch of 50 km from 398 km to 452 km on the Raiganj-Dalkhola
section of NH-34 under National Highway Development program (NHDP)
Phase III in the state of the West Bengal by 4-Laning on Design,
Build, Finance, Operate and Transfer (DBFOT) – Toll basis. The
concession agreement (CA) was executed between RDHL and National
Highways Authority of India (NHAI) on February 3, 2011 for a
concession period of 30 years from the appointed date. Due to lack
of support from NHAI in confirming the related land delay cost
overrun to the lenders the project was terminated on March 31,
2017. Consequently since the delay was on account of default by
NHAI, RDHL has notified NHAI that it shall be entitled for the
termination payment as per the terms of Concession Agreement (CA).
Accordingly the cost incurred by RDHL till March 31, 2018 amounting
to INR177. 42 Crore is considered fully recoverable by the
management of RDHL. The project cost was originally estimated at
INR684.32 crore which was to be met from a combination of an equity
contribution from promoters (Rs.137.15 crore), grant from NHAI
(Rs.225.54 crore) and term loan (Rs.321.63 crore). Thus, project
was financed at a debt-equity ratio of 0.89 times and the requisite
debt had been tied up. However, owing to delays in receipt of RoW,
there were cost overruns.

As per annual report FY19 of Hindustan Construction Company
(HCC),RDHL has filed a claim of 368 crore before arbitration
tribunal for wrongful termination of the project by NHAI and based
on legal advise it is confident of recovering entire cost incurred
on the project. Further, RDHL has also filed claims amounting to
INR802 crore towards losses suffered by it till 31 March 2017 on
account of delay in providing land and consequent delay in
completion of the project which are presently referred to
arbitration for which constitution of Arbitral Tribunal to
adjudicate this dispute is awaited. Further the net worth of RDHL
(104.33 cr as on March 31, 2019) is also positive.Based on the
legal advice obtained in this respect, Management is confident of
recovering the outstanding receivables of INR177.42 crore from NHAI
and exposure in RDHL is considered to be fully recoverable.

S.A. IRON: CARE Keeps D Debt Ratings in Not Cooperating
-------------------------------------------------------
CARE Ratings said the rating for the bank facilities of S. A. Iron
and Alloys Private Limited (SIPL) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       62.00      CARE D; Issuer not cooperating;
   Facilities                      Based on best available
                                   information

   Short Term Bank       3.00      CARE D; Issuer not cooperating;
   Facilities                      Based on best available
                                   information

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated July 24, 2019 placed the
ratings of SIPL under the 'issuer non-cooperating' category as S.
A. Iron and Alloys Private Limited had failed to provide
information for monitoring of the rating. S. A. Iron and Alloys
Private Limited continues to be non-cooperative despite repeated
requests for submission of information through e-mails, phone calls
and a letter/email dated September 15, 2020, September 17, 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.
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 ratings.

Detailed description of the key rating drivers

At the time of last rating on July 24, 2019 the following were the
rating weakness: (Updated for the information available from the
Registrar of Companies).

The rating takes into account the On-going delays in debt servicing
due to stressed liquidity position.

S. A. Iron and Alloys Private Limited (SIPL) was incorporated in
2003 by Mr. Arun Kumar Jain and Mr. Subhash Chandra Aggarwal. The
company is engaged in manufacturing of sponge iron. The
manufacturing facility of the company is located at Ramnagar in
Uttar Pradesh with the installed capacity of 90,000 MTPA. The
company is selling its final product directly to companies
operating in blast furnace industry mainly in Uttar Pradesh and
Uttrakhand.


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

The instrument-wise rating actions are:

-- INR165 mil. Fund-based working capital limits migrated to non-
     cooperating category with IND B+ (ISSUER NOT COOPERATING) /
     IND A4 (ISSUER NOT COOPERATING) rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
October 14, 2019. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.

COMPANY PROFILE

Established in 1983, S.D. Rice Mills is a partnership firm engaged
in the processing of basmati rice and conversion of semi-processed
rice into parboiled basmati rice. The firm is promoted by Darshan
Wadhwa and his family. Its milling unit is located in Jalalabad,
Ferozpur district, Punjab.


SAALIM SHOES: Insolvency Resolution Process Case Summary
--------------------------------------------------------
Debtor: Saalim Shoes Private Limited
        No. 1A, Regency Apartment
        No. 5, 1st Lane
        Nungambakkam High Road
        Nungambakkam
        Chennai 600034

Insolvency Commencement Date: September 25, 2020

Court: National Company Law Tribunal, Chennai Bench

Estimated date of closure of
insolvency resolution process: March 21, 2021
                               (180 days from commencement)

Insolvency professional: Mr. S.R. Shriraam Shekhar

Interim Resolution
Professional:            Mr. S.R. Shriraam Shekhar
                         4/363 A, "Sri Ramalayam"
                         Saravanabawa Nagar, First Street
                         Old Perungalathur
                         Chennai 600063
                         E-mail: shekhershriraam@gmail.com
                                 resolutionsaalim@gmail.com

Last date for
submission of claims:    October 6, 2020


SCHOLARS INTERNATIONAL: Ind-Ra Keeps D Ratings in Non-Cooperating
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has maintained Scholars
International Educational Foundation's bank loan ratings in the
non-cooperating category. The issuer did not participate in the
rating exercise despite continuous requests and follow-ups by the
agency. Therefore, investors and other users are advised to take
appropriate caution while using the ratings. The ratings will
continue to appear as 'IND D (ISSUER NOT COOPERATING)' on the
agency's website.

The instrument-wise rating actions are:

-- INR97.61 mil. Term loan (long-term) maintained in non-
     cooperating category with IND D (ISSUER NOT COOPERATING)
     rating; and

-- INR12.5 mil. Working capital facility (long-term) maintained
     in non-cooperating category with IND D (ISSUER NOT
     COOPERATING) rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
October 24, 2016. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.

COMPANY PROFILE

Scholars International Educational Foundation is regulated under
the Societies Registration Act, 1861. It offers undergraduate and
postgraduate courses in engineering, management, teaching and
polytechnic.


SETUBANDHAN INFRASTRUCTURE: Ind-Ra Affirms 'D' LT Issuer Rating
---------------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed Setubandhan
Infrastructure Limited's (SIL) Long-Term Issuer Rating at 'IND D
(ISSUER NOT COOPERATING)'. The issuer did not participate in the
rating exercise, despite continuous requests and follow-ups by the
agency. Thus, the ratings are based on the best-available
information. Therefore, investors and other users are advised to
take appropriate caution while using these ratings.

The instrument-wise rating actions are:

-- INR350 mil. Fund-based working capital limits (Long-term /
     Short-term) affirmed with IND D(ISSUER NOT COOPERATING)
     rating; and

-- INR550 mil. Non-fund-based working capital limits (Short-term)

     affirmed with IND D (ISSUER NOT COOPERATING) rating.

Note: ISSUER NOT COOPERATING: Issuer did not cooperate; based on
the best-available information

KEY RATING DRIVERS

The affirmation reflects the classification of SIL a as
non-performing asset, as stated by the statutory auditor in its
quarterly unaudited financial results for 1QFY21.

RATING SENSITIVITIES

Positive: Timely debt servicing for three consecutive months could
result in a rating upgrade.

COMPANY PROFILE

SIL was formed in January 1996 as Prakash Constrowell Private
Limited. It was reconstituted as a public limited company in 2011.
SIL is engaged in the business of infrastructure development and
civil construction such as buildings, schools, hostels, hospitals,
district courts and redevelopment, and provides integrated
engineering procurement construction services. It undertakes
projects for various government/semi-government bodies. The company
is a Class IA contractor for the Public Works Department of the
government of Maharashtra.


SHARADA AYURVEDIC: CARE Lowers Rating on INR5.65cr LT Loan to C
---------------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Sharada Ayurvedic Medical College (SAMC), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        5.65      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 August 6, 2019, placed the
rating(s) of SAMC under the 'issuer not cooperating' category as
SAMC had failed to provide information for monitoring of the
rating. Sharada Ayurvedic Medical College continues to be
non-cooperative despite repeated requests for submission of
information through phone calls and e-mails dated September 14,
2020 to September 21, 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 ratings have been revised on account of non-availability of
financials for last three years.

Detailed description of the key rating drivers

At the time of last press release dated August 6, 2019 the
following were the rating strengths and weaknesses:

Key Rating Weakness

* Project execution risk: Although the project is nearing its
completion date, project risk remains high due to its debt-funded
nature. The total cost of the project is envisaged at INR8.20 crore
and till December 28, 2016 the college has achieved only 55% of the
total project cost. The commercial operation of the college is
slated to commence operations from January 2017; however, the
construction of hostel building is expected to be completed by
August 2017. Moreover, the remaining amount of term loan will be
disbursed during February 2017 which will be utilized for the
construction of hostel building under SAMC.

* Presence in highly fragmented industry leading to intense
competition and highly regulated industry: SAMC is in education
sector, which is highly fragmented in nature with the presence of
various educational institutes. This leads to high competition for
institutes of SAMC. Furthermore, the Central Government is also
encouraging private sector participation in the education sector
which will further intensify the level of competition for SAMC.
Increasing competition may lead to decline in student enrolment
which will directly impact the revenue visibility for the Trust.
Moreover, educational sector in India is placed in the concurrent
list of the constitution and thus comes under the purview of both
Central and State Government. The sector is regulated by Ministry
of Human Resource at the national level, by the education
ministries in each state, as well as by Central bodies like
University Grant Commission (UGC) and 14 other professional
councils. The operating and financial flexibility of the education
sector are limited, as regulations governs almost all aspects of
operations, including fee structure, number of seats, changes in
curriculum and infrastructure requirements. The GoI guidelines
requires the educational institutes falling under the purview of
K-12 & Higher education to be run on 'not-for - profit' motive.
This in turn has deterred the entry of private schools & colleges
in the country. SAMC being in the education sector is also highly
regulated by the norms of governing bodies. These regulations on
operations put limitation on revenue growth of SAMC.

* Shortage of teaching staff in the sector: The fortune of all
educational institutes is directly correlated to availability of
teaching staff. Hence, the shortage of teaching staff is the most
critical problem faced by the educational institutes. The shortage
of teachers is being felt across all the educational segments
resulting in lower student-teacher ratio as compared to the other
developed nations of the world. The GoI has initiated several
programs for the training of teachers as well as induction of new
teachers into the industry through the development of curriculum.
However, in view of numerous other lucrative employment
opportunities on offer, the students seeking their career as
teachers have been decreasing over a period of time resulting in
shortage of teaching staff.

Key rating strengths

* Long experience of promoters in the educational sector: Mr.
Chandrashekhar Kuppi, Managing Trustee, has more than 15 years of
experience in the education field and has earlier worked as a
lecturer for more than 10 years at Ayurvedic College, Hubli.
Another Trustee, Mr. PrabhuKuppi is a retired college registrar and
possesses more than two decades of experience in education sector.
Mrs. Nagaratna Kuppi, a political leader by profession was also an
ex-member of Yadgir Zilla Panchayat committee. Furthermore, the
other trustees also possess reasonable experience in the education
sector. Moreover, SAMC will also be benefitted from the experience
of the trustees and their past track record in the educational
sector through SBE.

Sharada Ayurvedic Medical College (SAMC) is a under construction
college established under Sri Basava Education Charitable & Social
Welfare Trust (SBE). The trust was established in the year 2004
with trustees as Mr. Chandrashekhar Kuppi, Mr. Prabhu Kuppi, Mrs.
Nagaratna Kuppi, Mr. Somnath Reddy and Mr. Lingraj. The trust is a
closely held family owned trust in Yadgir district of Karnataka.

UTTAM GALVA: Insolvency Resolution Process Case Summary
-------------------------------------------------------
Debtor: Uttam Galva Steels Limited
        Uttam House, 69
        P D'Mello Road
        Mumbai MH 400009
        IN

Insolvency Commencement Date: October 1, 2020

Court: National Company Law Tribunal, Mumbai Bench

Estimated date of closure of
insolvency resolution process: April 4, 2021
                               (180 days from commencement)

Insolvency professional: Mr. Milind Kasodekar

Interim Resolution
Professional:            Mr. Milind Kasodekar
                         MRM Associates
                         Company Secretaries
                         77, Vijayanagar Colony
                         2147, Sadashiv Peth
                         Pune 411030
                         E-mail: milind.kasodekar@kmdscs.com

Last date for
submission of claims:    October 20, 2020


VUDDANDA SOLAR: CARE Reaffirms D Rating on INR10.82cr LT Loan
-------------------------------------------------------------
CARE Ratings reaffirmed ratings on certain bank facilities of
Vuddanda Solar Power Private Limited (VSP), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank
   Facilities           10.82      CARE D Reaffirmed

Detailed description of the key rating drivers

The ratings assigned to the bank facilities of VSP continues to be
tempered by ongoing delays in meeting debt obligation on time due
to stressed liquidity position on account of net losses incurred by
the company during review period coupled with delay in realization
of payments from its customers.

Key Rating Sensitivities

Positive Rating Factors

* Delays free track record of minimum three months.

Key Rating Weaknesses

* Ongoing delays due to stressed liquidity position and net losses:
The Company has ongoing delays in term loan installment repayments
along with servicing of interest obligations due to
stressed liquidity position on account of net losses incurred
during review period and delayed settlement of payments
from APSPDCL.

* Limited track record of operations with declining total operating
income (TOI) In FY20 (Prov.): The company was incorporated in the
year September 2013 and the commercial operations started in
October 2015 resulting to limited track record of operations. FY17
was the first full year of operations of the 3.3 MW solar power
plant. The total operating income of the company has decreased from
INR3.42 crore in FY19 to INR3.05 crore in FY20 (Prov.)

* Financial risk profile marked by negative net worth due to
year-on-year net loss incurred and weak debt coverage indicators:
The capital structure of the company marked by debt equity and
overall gearing ratio remained leveraged due to negative tangible
net worth base at the back of net loss incurred during the review
period resulted in erosion of net worth However, The total debt/GCA
and Interest coverage ratio of the company marginally improved and
stood 11.11x and 2.15x respectively in FY20 (Prov.) due to decrease
in debt levels relative coupled with decrease in interest cost. The
total debt /CFO also improved and stood at 4.57x inFY20 (Prov.)

* Power Purchase Agreements (PPAs) having short-term open access
approval under third party sale agreements: The company has entered
power purchase agreement with four private players namely Bliss
Hotels Limited (one of the group entities), Bhimas Residency
Hotels, Thirumala Residency Hotels and Sri Vishnu Priya Hotels
Private Limited located in Thirupathi (Andhra Pradesh) from October
01, 2019 to August 31, 2020. However, Renewal with above parties is
under process

Liquidity: Poor

Poor liquidity marked by lower accruals when compared to repayment
obligations and low cash balance of INR0.05 crore as on March 31,
2020(Prov.). This could constrain the ability of the company to
repay its debt obligations on a timely basis. The company has
availed moratorium from March 2020 to August 2020.

Key Rating Strengths

* Qualified and experienced promoters: VSP was established in the
year September 2013 and started its commercial operations in
October 2015 by Mr. M. Balakrishna Reddy as Managing Director and
Mr. Syamsundar Reddy as Director. The promoters of VSP have more
than 2 decades of experience in various business such as
hospitality, poultry, civil contractor and other industries.

* Satisfactory PBILDT margins with net loss during review period:
VSP has achieved satisfactory PBILDT margin in the range of 90%-92%
during FY19 to FY20 (Prov.) due to low operating expenses
associated with solar power plant. However, the company incurred
net loss during review period due to under absorption of financial
expenses and depreciation provisions. The company achieved cash
profit of INR1.50 crore in FY20 (Prov.) as compared to INR1.55
crore in FY19.

* Stable outlook of renewable power industry: In 2014, Government
of India (GoI) set an ambitious target of reaching 100 GW of solar
capacity by 2022. The target principally comprises of 40 GW of
Rooftop solar and 60 GW through Large and medium scale grid
connected solar power projects against which total installed solar
power capacity stood at 28.18 GW as on March 31, 2019.India has
made tremendous progress in the recent past in developing a
renewable energy led power generation eco-system. Between
FY15-FY19, there was an almost 11-fold growth in installed solar
power capacity.

Vuddanda Solar Power Private Limited (VSP) was incorporated in 2013
and promoted by Mr. M. Balakrishna Reddy along with his friends.
The first solar power project commissioned by VSP, of 3.3 MW power,
was installed on over 24 acres of land located Kothapalli, Near
Kalikiri, Chittoor District, Andhra Pradesh. FY17 was the first
full year of operations of the 3.3 MW plant. VSP has executed this
project under third party open access agreement. The power is being
purchased by 4 customers located in Tirupathi (Andhra Pradesh). VSP
has entered Power Purchase Agreements (PPAs) with Bliss Hotels
Limited, Bhimas Residency Hotels, Thirumala Residency Hotels and
Sri Vishnu Priya Hotels Private Limited.

ZEE MEDIA: CARE Reaffirms C Rating on INR152cr Loans
----------------------------------------------------
CARE Ratings reaffirmed ratings on certain bank facilities of Zee
Media Corporation Limited (ZMCL), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long-term Bank
   Facilities–Term
   Loan                 102.00     CARE C; Negative Reaffirmed

   Long-term Bank
   Facilities–Cash
   Credit                50.00     CARE C; Negative Reaffirmed

The reaffirmation of the rating assigned to long term bank
facilities of ZMCL takes into account the default on
Non-Convertible Debentures (NCDs) issued by Diligent Media
Corporation Limited (DMCL) on June 30, 2020, and the subsequent
invocation of the corporate guarantee issued by ZMCL, to guarantee
the debt obligations of these NCDs, by the Investors. The rating is
further constrained by deterioration in capital structure
characterized by impairment of investment of INR436.27crore in
DMCL. The rating also factors in high level of pledging of the
promoter holding. As on June 30, 2020, total promoter holding in
ZMCL stood at 36.75%, of which, 99.75% is pledged. The ratings
assigned to the bank facilities of ZMCL continue to factor in the
intense competition in the news broadcasting space, highly
regulated industry segment and impact of covid-19 on Media &
entertainment industry. The ratings, however, continue to derive
strength from the established track record of the promoter group in
the media and entertainment industry, availability of a wide
platform for distribution with a bouquet of national and
international channels, Integration of advertisement sales function
resulting in reduced cost, Moderate financial performance of the
company in FY20 amidst Covid-19.

Rating Sensitivities

Positive Factors:

* Able to restructure the non-convertible debentures issued by DMCL
for which ZMCL has given corporate guarantee

* Improvement in the PAT margin to 15% on a sustained basis.
Negative Factors:

* ZMCL unable to restructure the non-convertible debenture issued
by DMCL for which ZMCL has given corporate guarantee

* Increase in overall gearing to more than 1.5x on a sustained
basis.

Outlook: Negative

The negative outlook factors in the inability to meet the
INR438.90crore NCDs obligations within the time frame allowed
under the corporate guarantee.

Detailed Rationale & Key Rating Drivers

Key Rating Weaknesses

* Invocation of Corporate Guarantee extended for the NCD raised by
DMCL: ZMCL has extended corporate guarantee to the NCD raised by
DMCL amounting to INR438.90crore(including interest), due to be
paid on June 30, 2020. DMCL failed to repay the amount on due date
and subsequently the corporate guarantee was invoked. As per the
discussion with the management, the said NCD is going to be
restructured. However, the same is yet to be finalized.

* Deterioration in capital structure characterized by impairment of
investment in DMCL: ZMCL has accounted for impairment of investment
in DMCL which has been charged to profit & loss account for Q4FY19
and FY20. The same resulted in net loss and in turn reduction in
the net-worth base of the company. Reduction of networth due to
impairment of investment in DMCL and also factoring in the
contingent liability in the form of corporate guarantee extended to
DMCL for its NCD issue, the overall gearing of ZMCL on a
consolidated basis deteriorated to 1.62x as on March 31, 2020 (as
compared to 1.05x as on March 31, 2019).  The total debt to GCA was
negative in FY20 as compared to 3.91x in FY19. Although the PBILDT
level improved in FY20, however due to increase in interest cost
the interest coverage metrics deteriorated to 8.09x in FY20 as
compared to 10.08x in FY19.

* Operates in highly competitive and regulated industry segment:
The competition is ever increasing with large number of players
entering the News Broadcasting industry. Moreover, technological
changes have laid new distribution platforms inviting competition
from newer players. To maintain its competitive edge in such a
scenario, the company will need to anticipate viewer preferences to
create, acquire, commission, and produce compelling content across
platforms favoured by the consumers.

* Industry Outlook amidst Covid-19: The global economy is likely to
see a sharp decline, possible sliding into recession. The impact on
India's economic growth will be a result of both global trends and
the extent of proliferation of the virus. Ad-spend pressures to
linger on the back of weak economy and lower domestic consumption.
Overall TV viewing has increased but there is absence of fresh
content. News channels are popular as viewers follow Covid-19
updates in real time. Monetization has dropped substantially with
advertisers scaling back on spends. The media and entertainment
sector is expected to witness 16% decline in revenue in FY21, due
to fall in the advertisement and subscription income in the wake of
coronavirus-induced lockdown. The industry would take a hit of
around 18 per cent in revenue from advertisement that accounts for
nearly 45 per cent of total income, while the subscription earning
that contributes 55 per cent will be relatively resilient with a
likely decline of 14 per cent.

Key Rating Strengths:

* Established track record of promoter group in media and
entertainment industry: Essel Group has been in the media and
entertainment business for more than two decades, as the flagship
channel (Zee TV) was launched in 1992. ZEE brand has a strong
recognition in the media and entertainment industry given its long
and successful track record. Further, Essel Group has a presence
across allied media value chains including television broadcasting,
cable distribution, direct-to-home satellite service and digital
media amongst others. The group is headed by Mr. Subhash Chandra
while the media business is headed by his son Mr. Punit Goenka. The
promoters are well supported by experienced and qualified
management team.

* Wide platform for distribution with a bouquet of national and
international channels: Over the past 19 years, ZMCL has built a
strong portfolio of 14 news channels in eight different languages
and reaching more than 60 million users through digital channels.
In addition, ZMCL manages its multi-lingual digital news platform
i.e. Zeenews.com.

* Integration of advertisement sales function resulting in reduced
cost: The Zee Group's advertisement sales function has been
integrated into a separate company i.e. ZEE Unimedia Limited. ZUL
has entered into an agreement with the media entities of the Essel
Group to act as a canvassing agent for sale of available
advertisement space. The approach of collective advertisement sales
not only benefits the group in maximizing advertising revenues for
its entities but also helps the advertisers/agencies in single Ad
solution and wider reach across multiple platforms i.e. television,
print, digital, radio etc. In consideration for the services
provided.

* Moderate financial performance of the company in FY20 amidst
Covid-19: The industry saw hold back of spends by advertisers
specifically in the last quarter of FY20 due to the impact of
Covid-19. TOI of the company declined by around 7% to INR643.42
crore in FY20 (as compared to INR693.84crore in FY19) mostly due to
lower advertisement revenue. Advertisement revenue (which
contribute 92% to the total revenue) declined by 5% on a y-o-y
basis to INR583.5crore in FY20. Despite lower TOI, PBILDT margin of
ZMCL on consolidated basis improved by 401 bps to 30.18% in FY20,
led by lower marketing, distribution and business promotion
expense. Further, ZMCL had an investment of INR436.27crore in DMCL
which has been fully impaired during Q4FY19 &FY20.Resulting which
the ZMCL reported a net loss of INR271crore in FY20 as against a
reported loss of INR6.32 crore in FY19. However, the company
reported a healthy PBT of INR80 crore in FY20 as compared to INR108
crore in FY19; albeit some decline on a YoY basis.

Liquidity: Poor

ZMCL's cash position as on March 31, 2010 was at INR53.23crore
(vis-à-vis INR24.30crore as on March 31, 2019). ZMCL's bank limits
are utilized to the extent of 45%. However, given the significant
debt obligation arising from the aforesaid invocation of corporate
guarantee the liquidity position of the company remain
significantly stretched.

ZEE Media Corporation Limited (ZMCL) incorporated on August 27,
1999 is a part of Essel group. It is one of the largest news
networks in the country with portfolio of fourteen news channels in
eight different languages in the linear TV platform while it
reaches out to more than 220 million users through the digital
platform. It has a strong national presence and has strengthened
its position as a regional player in North, West, East and Central
India. With effect from April 2017, the newspaper printing business
carried out through Mediavest India Private Limited and PriMedia
Services Private Limited has been demerged from ZMCL and
subsequently merged with DMCL. DMCL which was a wholly-owned
subsidiary of ZMCL has become an independent entity w.e.f. April
2017 and accordingly, the printing business has been completely
hived off from ZMCL.



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

PAN BROTHERS: Moody's Cuts CFR to Caa1, Outlook Negative
--------------------------------------------------------
Moody's Investors Service has downgraded Pan Brothers Tbk (P.T.)'s
corporate family rating (CFR) to Caa1 from B3.

At the same time, Moody's has downgraded to Caa1 from B3 the senior
unsecured rating on the 2022 notes issued by PB International B.V.,
a wholly owned subsidiary of Pan Brothers, and guaranteed by Pan
Brothers and all its subsidiaries.

The outlook on all ratings remains negative.

"The downgrade reflects its material concerns over Pan Brothers'
ability to refinance its imminent upcoming debt maturities," says
Stephanie Cheong, a Moody's Analyst and Lead Analyst for Pan
Brothers.

"While the company has made some progress in its refinancing
efforts, no binding agreement is in place yet and so the timing of
the execution of its plans remains highly uncertain and
significantly challenging for the company's ratings," adds Cheong.

RATINGS RATIONALE

Pan Brothers has a large amount of debt coming due over the next
12-15 months, namely (1) a $138.5 million revolving credit facility
due February 2021, of which $133.5 million was drawn as of June 30,
2020, and (2) $171 million of senior unsecured notes due January
2022.

As of June 30, 2020, Pan Brothers' cash balance of $40 million was
insufficient to cover its maturing debt. As such, the company is
reliant on external funding to address its near-term debt
maturities.

Pan Brothers' Caa1 CFR primarily reflects its weak liquidity
position.

The rating also considers the company's earnings growth through
June 30, 2020, its stable margins, and its long-standing
relationships with major global apparel retailers.

The rating also reflects its small scale, the seasonality of its
operations, moderate customer concentration and its relatively high
leverage at 4.4x for the 12 months ending June 30, 2020.

In terms of environmental, social and governance (ESG) factors, the
rating also incorporates governance risks arising from the
company's concentrated ownership structure.

The negative outlook reflects the ongoing uncertainties regarding
Pan Brothers' refinancing of its upcoming debt maturities.

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

The ratings are unlikely to be upgraded or their outlook returned
to stable prior to the completion of the full refinancing of both
its revolving credit facility and bonds. However, successful
refinancing could trigger an upgrade of one notch or more as it
would materially improve the company's liquidity profile.

The ratings could be downgraded further if there is an increasing
likelihood that Pan Brothers will not be able refinance its
upcoming maturities in full on maturity.

The principal methodology used in these ratings was Manufacturing
Methodology published in March 2020.

Pan Brothers Tbk (P.T.) is the largest listed manufacturer of
garment products in Indonesia, with a total production capacity of
117 million pieces of garments per year as at June 30, 2020.

The company employs around 38,000 people across 25 factories and in
10 manufacturing locations in Banten, West and Central Java.

Pan Brothers generated approximately $706 million in revenue for
the 12 months ended June 30, 2020.



=========
J A P A N
=========

JTB CORP: To Close 20% of Outlets in Japan Amid Pandemic
--------------------------------------------------------
The Japan Times reports that major travel agency JTB Corp. is
planning to close around 20% of its outlets in Japan, or around 100
offices, over the next five years, sources said Oct. 19.

With demand for travel stagnant due to the spread of the virus that
causes COVID-19, JTB hopes to reduce costs by streamlining its
outlets, as well as by promoting digitalization, including moves to
strengthen its online customer services, according to the sources,
The Japan Times relays.

Currently, JTB operates around 450 outlets serving individual
customers, down from some 480 at the start of fiscal 2019, which
ended in March this year, the report discloses.

The Japan Times says the company will shut down more offices in
stages. Employees working at such facilities will be relocated to
other departments, the sources said.

JTB will soon start discussions on which outlets to close, the
report notes.

It has decided to skip this year's winter bonuses, in response to a
deterioration in earnings amid the pandemic, relates The Japan
Times.

JTB is currently working on structural reform measures, such as
boosting operations outside its travel businesses, The Japan Times
relates.

Elsewhere in the struggling travel industry, H.I.S. Co. plans to
shut one-third of its 260 domestic outlets, the report adds.

Japan-based JTB Corp. offers travel services. The Company provides
tourist resort development, ticket and hotel booking, travel
information supply, and other services. JTB also operates real
estate marketing, printing, and other businesses.



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

AIRASIA GROUP: Unit out of Money, Needs US$120MM to Restart
-----------------------------------------------------------
Reuters reports that long-haul, low-cost carrier AirAsia X Bhd has
run out of money and needs to raise up to MYR500 million ($120.60
million) to restart the airline, deputy chairman Lim Kian Onn said
in a newspaper interview published on Oct. 17.

The Malaysian airline, the long-haul arm of AirAsia Group Bhd, said
this month it wanted to restructure MYR63.5 billion ($15.32
billion) of debt and slash its share capital by 90% to continue as
a going concern.

"We have run out of money," Mr. Lim told The Star newspaper,
Reuters relays. "Obviously, banks will not finance the company
without shareholders, both old and new, putting in fresh equity.
So, a prerequisite is fresh equity."

He said the airline had actual liabilities of MYR2 billion, with
the larger figure of MYR63.5 billion including all lease payments
for the next eight to 10 years and its large order for Airbus SE
planes and contracted engine maintenance with Rolls-Royce Holdings
PLC, Reuters relates.

"If we find MYR300 million in new equity, then the shareholder
funds are MYR300 million at the restart of business and if we are
able to borrow MYR200 million, we feel that we will have a good
platform to start all over again," he told The Star.

Reuters adds that Mr. Lim said AirAsia X also needed to convince
its lessors of its business plan, adding an unnamed lessor recently
took back one of the airline's planes to convert it to a
freighter.

The airline plans to liquidate its small Indonesia-based carrier
and has completely written down its stake in Thai AirAsia X in its
books, with the Thai carrier not part of the restructuring scheme,
Mr. Lim told the newspaper, according to Reuters.

Rival Malaysia Airlines is also in financial trouble, but Mr. Lim
said there would be "no good outcome" from seeking to merge two
airlines in dire straits.

AirAsia X declined to comment beyond the details published in the
newspaper article, Reuters notes.

                           About AirAsia

AirAsia Berhad provides low-cost air carrier service. The company
provides services on short-haul, point-to-point domestic and
international routes. AirAsia, headquartered in Malaysia, operates
from hubs in Malaysia, Thailand, Indonesia, Philippines and India.

As reported in the Troubled Company Reporter-Asia Pacific on July
9, 2020, auditor Ernst & Young said the carrier's ability to
continue as a going concern may be in "significant doubt."  In a
statement to the Kuala Lumpur stock exchange, Ernst & Young said
AirAsia's current liabilities already exceeded its current assets
by MYR1.84 billion at the end of 2019, a year when it posted a
MYR283 million net loss, Bloomberg News disclosed. That was before
the coronavirus crisis, which has further hit the carrier's
financial performance and cash flow.



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

KIDZANIA SINGAPORE: Owes SGD53MM to More Than 1,000 Creditors
-------------------------------------------------------------
The Business Times reports that Khazanah-backed family attraction
KidZania Singapore, now under liquidation, owes SGD53.4 million to
more than 1,000 parties including businesses and government
agencies in Singapore.

BT relates that about SGD50 million of that sum is listed as claims
by Themed Attractions Resorts & Hotels (TARH) -- the leisure and
tourism arm of Khazanah -- which owns an 80% stake in Rakan Riang,
the joint venture company behind KidZania Singapore.

Boustead Curve, a wholly-owned subsidiary Boustead Holdings Bhd,
holds the remaining 20% stake in Rakan Riang, BT notes.

The rest of the debts are owed to customers, businesses and
government agencies in Singapore, including the Singapore Tourism
Board (STB), the Sentosa Development Corp (SDC) and the Ministry of
Education (MOE), according to a list of creditors seen by BT.

BT relates that SDC, owed SGD207,400 in rent for KidZania's
premises on Sentosa Island, would only say it was "in touch with
the liquidators".

Meanwhile, STB, owed SGD27,400, said it was unable to share details
due to "business confidentiality," BT relays.

BT says MOE's sports and recreation club is understood to be owed
SGD62,300 for corporate passes purchased from KidZania.

When KidZania opened in Singapore in 2016, it recorded SGD15
million in revenue and a loss after tax of SGD8.3 million that
year. It said since then, KidZania's revenues have hovered around
that figure, while losses have widened.

Last year, KidZania generated SGD14.4 million in revenue but made a
loss after tax of SGD28 million, adds BT.

The total value of its assets has also diminished, from SGD48.9
million in 2016 to SGD5.9 million as at Aug 24, according to the
statement of affairs presented at the creditors' meeting, BT
relays.

RAFFLES INFRASTRUCTURE: Auditor Gives Qualified Opinion
-------------------------------------------------------
The Business Times reports that Raffles Infrastructure's audited
financial statements for the financial year ended June 30 have been
given a qualified opinion by its independent auditor, RT LLP.

As RT was unable to confirm that the opening balances as at the
start of the financial year were fairly stated, it had issued a
qualified opinion on the financial statements for the
infrastructure investment company, BT relates.

It has also given the current financial statements of Raffles
Infrastructure a modified opinion because of the possible effects
on the comparability of the current year's figures and the
corresponding figures for other years, if any adjustments had made
by Raffles Infrastructure to its equity and cash flows, the report
says.

According to the report, the deconsolidation of several entities
due to the loss of Raffles Infrastructure's ability to control them
was also questioned by RT, as it could not obtain sufficient
appropriate audit evidence to be persuaded that there was basis for
the deconsolidation.

BT relates that the computation of the CNY19 million (SGD3.88
million) in net assets loss arising from the deconsolidation was
therefore also flagged by the auditor.

Additionally, there was an unreconciled difference of CNY2 million
from the computation of loss on net assets arising from
deconsolidation, which cannot be accounted for by the management,
said RT.

Singapore-based Raffles Infrastructure Holdings Limited is
principally engaged in the business of infrastructure investment
and operating projects in Asia. The Company is engaged in operating
roadway and railway projects that include the Deng Feng City
Railway project and Xingwen County project, which is a 220
kilometers (km) rural road construction project.

SUPERPARK ASIA: Indoor Playground SuperPark Singapore Closes Down
-----------------------------------------------------------------
SuperPark Singapore, one of the biggest indoor playgrounds in
Singapore, closed down on Oct. 8 after less than two years of
operations.

Its landlord, Suntec City mall, confirmed the closure, BT says. "We
took possession of the SuperPark premises on Oct. 8 as the operator
was not able to come up with a concrete plan to restart
operations," the report quotes Mr. Anthony Yip, deputy chairman of
APM Property Management, the property manager of Suntec City, as
saying.

The Business Times reported on Sept. 29 that the park's holding
company, SuperPark Asia Group, is under interim judicial management
with SGD18 million in liabilities.

Its closure follows in the footsteps of other attractions for kids
such as Kidzania Singapore in Sentosa and Cool De Sac, also in
Suntec City, which both shuttered in June due to the pandemic,
according to BT.

Spanning 40,000 sq ft across two levels, SuperPark Singapore is the
local outpost of a popular Finnish indoor activity park, BT says.
It opened on Nov. 17, 2018 and catered to both adults and
children.

Other major indoor playgrounds in Singapore include Kiztopia at
Marina Square, Amazonia at Great World City and Waka Waka at
Annex@Furama.

BT adds that Mr. Yip said that APM is reviewing various options for
the Suntec space, including leasing it to other indoor play
operators or converting it into a play area for shoppers.

He added: "We will also consider inviting the interim judicial
manager of SuperPark to submit a proposal to restart operations if
they choose to."

The Straits Times has contacted SuperPark Singapore and its Finnish
parent company for comment.


XIHE HOLDINGS: Units Placed Under Interim Judicial Management
-------------------------------------------------------------
Manifold Times reports that the Government Gazette on Oct. 16
published a notice of appointment of interim judicial managers for
the following Xihe subsidiaries:

   - An Guang Shipping Pte Ltd (UEN No. 201401215K)
   - Dong Fang Shipping & Trading Pte Ltd (UEN No. 198400894G)
   - Hua An Shipping Pte Ltd (UEN No. 200610919Z)
   - Hua Kang Shipping Pte Ltd (UEN No. 200610927K)
   - Hua Sheng Shipping Pte Ltd (UEN No. 200611200D)
   - Hua Zhong Shipping Pte Ltd (UEN No. 200611197Z)
   - Nan Chiau Maritime Pte (UEN No. 200814296Z)
   - Nan Chuan Maritime Pte Ltd (UEN No. 200814313Z)
   - Nan Hai Maritime Pte Ltd (UEN No. 200814299M)
   - Nan Sia Maritime Pte Ltd (UEN No. 200814320Z)
   - Nan Ya Maritime Pte Ltd (UEN No. 200814326E)
   - Nan Zhou Maritime Pte (UEN No. 200814295H)
   - Xin Sheng Shipping Pte Ltd (UEN No. 199004277D)
   - Xin Ya Shipping & Trading Pte Ltd (UEN No. 198400891N)

According to Manifold Times, the notice published Grant Thornton
Singapore Private Limited have been appointed as joint and several
interim judicial managers of each of the above companies.

The interim judicial managers can be reached:

     8 Marina View
     #40-04/05 Asia Square Tower 1
     Singapore 018960

Xihe Holdings is a Singapore-based tanker shipowner. The exempt
private company owned by Hin Leong founder OK Lim and his son, has
been placed under interim judical managers (IJMs), after more
creditors threw their support behind OCBC Bank's application to
take control over Xihe's restructuring out of the Lim family's
hands, according to The Business Times.

A Singapore High Court appointed Grant Thornton Singapore as IJMs
for Xihe Holdings during a chambers hearing on Aug. 13, 2020, BT
said.



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

[*] BOND PRICING: For the Week Oct. 12, 2020 to Oct. 16, 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


   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


   SOUTH 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


   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.



                *** End of Transmission ***