/raid1/www/Hosts/bankrupt/TCRAP_Public/201208.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, December 8, 2020, Vol. 23, No. 245

                           Headlines



A U S T R A L I A

AMS HOLDINGS: Court Appoints McGrathNicol as Liquidators
EXALT LABOUR: First Creditors' Meeting Set for Dec. 15
INFRABUILD AUSTRALIA: Moody's Affirms Ba3 CFR, Outlook Negative
INSIGHT PROJECTS: First Creditors' Meeting Set for Dec. 15
ISIGNTHIS LTD: ASIC Commences Proceedings Against Co and Director

RESIMAC TRIOMPHE 2020-3: S&P Gives Prelim. BB Rating to Cl. E Notes
VILLAGE ROADSHOW: BGH Revised Takeover Bid on the Brink of Success
WINDOWS ON THE WORLD: First Creditors' Meeting Set for Dec. 15


C H I N A

LOGAN GROUP: S&P Rates New USD Sr. Unsecured Notes 'BB-'
SEAZEN GROUP: Fitch Upgrades LT IDRs to BB+, Outlook Stable
YONGCHENG COAL: Creditors OK More Repayment Plans After Defaults


I N D I A

ACUBE KRAFT: CRISIL Reaffirms B Rating on INR4.9cr Loans
BALAJI COTGIN: CRISIL Keeps B Debt Ratings in Not Cooperating
CORAL INFRA: Insolvency Resolution Process Case Summary
KARNATAKA MACHINE: CRISIL Keeps B+ Ratings in Not Cooperating
MAHASHAKTHI CHEMICALS: CARE Cuts Rating on INR7.50cr Loan to C

N.S.K. BUILDERS: CRISIL Keeps D Debt Ratings in Not Cooperating
NATURAL HERBALS: CRISIL Lowers Rating on INR19.5cr Loan to B
NIWAS DALL: CRISIL Keeps B+ Debt Rating in Not Cooperating
NUTAVE STONE: CRISIL Keeps B Debt Ratings in Not Cooperating
ONEWORLD SOURCING: CRISIL Keeps D Debt Ratings in Not Cooperating

PAMI METALS: Ind-Ra Moves 'D+' LT Issuer Rating to Non-Cooperating
PATIL AUTOMATION: CRISIL Lowers Rating on INR4cr Loan to 'B'
PATSON GLOBAL: CRISIL Keeps B+ Debt Ratings in Not Cooperating
PRAKASH INDUSTRIAL: CRISIL Keeps B on INR8cr Debt in NonCooperating
PRALHADRAO SALUNKHEPATIL: CRISIL Keeps B Rating in Not Cooperating

PRE UNIQUE PRIVATE: Ind-Ra Affirms 'B' LT Issuer Rating
PROGRESSIVE HOMES: Ind-Ra Keeps B Issuer Rating in Non-Cooperating
PROGRESSIVE INDUSTRIES: CRISIL Keeps B- Rating in Not Cooperating
RAHIL COLD: CRISIL Reaffirms D Rating on INR14.92cr LT Loan to D
RAMEE HOTELS: Ind-Ra Puts BB- LongTerm Issuer Rating on Watch Neg.

ROSE METALS: CRISIL Keeps B- on INR21cr Loans in Not Cooperating
SANKAR INDUSTRIES: CRISIL Keeps B- Ratings in Not Cooperating
SARAVANA INDUSTRIES: Ind-Ra Hikes LongTerm Issuer Rating to 'B+'
SATYA SRINIVASA: CRISIL Keeps B Debt Rating in Not Cooperating
SCHOOLNET INDIA: Ind-Ra Withdraws D Rating on Series C Debentures

SCORE INFORMATION: Ind-Ra Lowers LongTerm Issuer Rating to 'B+'
SHREE BISHNU: CRISIL Keeps D on INR8.3cr Loan in Not Cooperating
SONTHALIA RICE: CRISIL Keeps B+ Debt Ratings in Not Cooperating
SRM POWER: CRISIL Keeps D Debt Ratings in Not Cooperating
SUBHKARAN AND SONS: CRISIL Has D on INR50cr Debt in NonCooperating

SUNMARK CERAMIC: CRISIL Keeps B+ Debt Ratings in Not Cooperating
SUYASH MOTORS: CRISIL Keeps B+ Debt Ratings in Not Cooperating
T V SUBBAIAH: CRISIL Keeps B Debt Rating in Not Cooperating
UNIJULES LIFE: CRISIL Keeps D Debt Ratings in Not Cooperating
YUG WEAVE: Insolvency Resolution Process Case Summary



I N D O N E S I A

AGUNG PODOMORO: Fitch Upgrades LT Issuer Default Rating to CCC


J A P A N

JAPAN: Should Weigh Safety Net For Pandemic-Hit Firms


M A L A Y S I A

PRESS METAL: S&P Discontinues 'B+' ICR Following Bond Redemption


S I N G A P O R E

FLOATEL INT'L: Enters Lockup Deal for Restructuring with FELS
OCEAN TANKERS: Creditors' Proof of Claim Due Dec. 18


X X X X X X X X

[*] BOND PRICING: For the Week Nov. 30, 2020 to Dec. 4, 2020

                           - - - - -


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

AMS HOLDINGS: Court Appoints McGrathNicol as Liquidators
--------------------------------------------------------
The Federal Court has ordered the winding up of an unregistered
managed investment scheme (the scheme) operated by Mr. Chris Marco
and AMS Holdings (WA) Pty Ltd (AMS).

The Court also ordered that Mr. Marco be permanently restrained
from carrying on a financial services business without an
Australian Financial Services (AFS) licence or operating an
unregistered managed investment scheme.

Justice McKerracher made declarations that Mr. Marco, AMS and AMS
as trustee of the AMS Holdings Trust (AMS Trustee) contravened the
Corporations Act by:

   * operating an unregistered managed investment scheme when the
     scheme was required to be registered; and

   * carrying on a financial services business without holding an
     AFS licence.

The Court has ordered that the scheme and AMS be wound up and has
appointed Mr. Robert Kirman and Mr. Robert Brauer of McGrathNicol
as liquidators, replacing Mr. Cameron Shaw, Mr. Richard Albarran
and Mr. Marcus Watters of Hall Chadwick, who are the current
liquidators of AMS. The Court has also appointed Mr. Kirman and Mr.
Brauer as receivers and managers over all the property of the
defendants.

ASIC Commissioner Cathie Armour said, 'Today's decision is an
important milestone in our action against Mr. Marco and AMS.
Promoters of managed investment schemes must comply with the law,
including the requirement to register the scheme with ASIC and hold
an AFS licence. Where this doesn't occur, ASIC will take action.'

The full judgment with the Court's reasons is anticipated to be
handed down this Friday [Dec. 11].

ASIC's investigation into the conduct of Mr. Marco is ongoing.

On November 1, 2018, ASIC obtained asset preservation orders over
the assets held by the defendants.

On December 12, 2019, ASIC filed an application seeking the
appointment of interim receivers.  ASIC's application was heard on
March 16, 2020.  On May 28, 2020, the Court made orders appointing
Mr. Robert Kirman and Mr. Robert Brauer of McGrathNicol, Perth, as
Interim Receivers.

On July 24, 2020 the Interim Receivers filed their report with the
Court.

On October 28 and October 29, 2020, ASIC's application for final
orders to wind up the scheme was held.


EXALT LABOUR: First Creditors' Meeting Set for Dec. 15
------------------------------------------------------
A first meeting of the creditors in the proceedings of Exalt Labour
Solutions Pty Ltd will be held on Dec. 15, 2020, at 10:00 a.m. at
the offices of Valles Accountants, Mezzanine, Level 1, 452 Flinders
Street, in Melbourne, Victoria.

Joshua Philip Taylor -- jtaylor@taylorinsolvency.com.au -- of
Taylor Insolvency was appointed as administrators of Exalt Labour
on Dec. 3, 2020.


INFRABUILD AUSTRALIA: Moody's Affirms Ba3 CFR, Outlook Negative
---------------------------------------------------------------
Moody's Investors Service affirmed the Ba3 corporate family rating
(CFR) of InfraBuild Australia Pty Ltd. At the same time, Moody's
also affirmed the Ba3 backed senior secured notes rating of
InfraBuild Australia Pty Ltd. The outlook remains negative.

RATINGS RATIONALE

"The affirmation reflects InfraBuild's improved liquidity position
and solid operating performance in the first quarter of fiscal
2021" says Matthew Moore a Moody's Vice President and Senior Credit
Officer. "The ratings also benefit from our expectation that
federal and state governments will look to use infrastructure
spending as a tool to aid economic recovery after the coronavirus
passes" Moore adds.

InfraBuild's credit profile remains constrained by the company's
limited scale on a production and earnings basis, its high exposure
to volatile input costs and foreign exchange rates, the cyclical
nature of steel prices and demand, and its dependence on the
construction segment in Australia, which faces uncertainty and
downside risks.

InfraBuild's ratings continue to reflect its strong market position
in steel long products in Australia, a vertically integrated
business model with a flexible operating profile, and consistent
production levels.

Despite evidence of improving margins and credit metrics in the
most recent quarter, the negative outlook continues to reflect
InfraBuild's still weak margins and coverage levels for the
rating.

The outlook also reflects the continued weakness and uncertainty
facing the Australian construction sector, which Moody's believes
may face further reductions in activity in 2021 as existing
building construction projects complete and limited new projects
commence. While Moody's believes that government sponsored
infrastructure spending will be a key driver of activity over the
next several years, demand for InfraBuild's products will be
sensitive to the timing and magnitude of this spending, which has a
track record of frequently being delayed.

EBIT and EBITDA margins remained at low levels for the rating at
2.4% and 5.6%, respectively, in fiscal 2020. This largely reflected
weaker volumes and prices more than offsetting cost reduction
initiatives. In response to these weaker market conditions,
InfraBuild embarked on a further cost-reduction program in June
2020. The restructuring plan included a workforce reduction of
around 550 employees and the review of around 17 sites for
closure.

The Group made solid progress on its restructuring initiatives in
the September 2020 quarter, with around 400 roles removed from the
organization and the exiting of nine operating sites. These
initiatives contributed around AUD8 million of cost savings in the
period. InfraBuild expects more material savings from the program
going forward as it receives the full year benefit of initiatives
already taken, and continues to reduce headcount and rationalize
its footprint throughout the year.

The restructuring actions taken to date, combined with stronger
volumes than Moody's previous expectations, allowed the company to
register improved earnings in the first quarter, with reported
EBITDA of around AUD76 million, up 13% on the prior corresponding
period. EBITDA margins also increased to around 7% from around 5.6%
in fiscal 2020.

However, September has been a seasonally strong quarter, and given
the uncertainty and downside risk to demand for the remainder of
the June 2021 fiscal year, Moody's expects margins to weaken over
the next several quarters and for EBIT margins to finish the year
around 3.0-3.5%, which remains a weak level for the rating.

InfraBuild's leverage has remained at appropriate levels for the
rating with the company registering debt/EBITDA of around 3.8x for
fiscal 2020. While this was near the rating tolerance level of
4.0x, it was lower than Moody's previous expectations. Moody's now
expects that leverage will improve further to around 3.0-3.5x over
the next 12-18 months, which is an appropriate level for the
rating.

Notwithstanding the improvements in leverage levels, Moody's
continues to expect interest coverage levels to remain weak. This
reflects InfraBuild's high cost debt structure, which makes the
company's coverage metrics very sensitive to earnings
underperformance and lower EBIT margins. Moody's expects
EBIT/interest coverage to range between 1.5-2.0x over the next
12-18 months, which is below the 2.5x tolerance level for the
rating.

InfraBuild's liquidity profile has improved but will remain
sensitive to working capital needs and earnings underperformance.
InfraBuild had around AUD277 million in cash and AUD139 million of
availability under its credit facilities as at September 2020.
Moody's expects these liquidity levels, combined with cash flow
from operations, will be adequate to cover expected needs over the
next 12-18 months.

The Group's ratings continue to reflect the elevated environmental
risks facing steel producers, such as carbon regulation and air
pollution. Nevertheless, given InfraBuild's electric arc furnace
(EAF) production, which uses scrap steel and emits lower emissions
than blast furnace operations, Moody's sees this risk materializing
more around electricity prices and security of supply.

Governance risk is also a consideration, reflecting the
concentrated ownership of the company, which is ultimately fully
owned by the UK-based GFG Alliance. Moody's points out that GFG has
full control of InfraBuild, appointing all of its directors and
ultimately making all major decisions. This risk could most
manifest through dividends, increased leverage, or other cash flow
leakage to boost returns or support other GFG businesses, although
Moody's notes that the current terms of InfraBuild's debt
facilities place restrictions on this. Governance risk is also
amplified by the limited information available on the financial
position of GFG and its entities.

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

Given the current negative outlook and the uncertainty as to the
duration of weakening macroeconomic conditions, a ratings upgrade
is unlikely.

However, the rating could be stabilized if market conditions
improve, sales volumes are held near previous levels and steel
spreads increase. Specifically, the rating could be stabilized if
the company can sustain debt/EBITDA less than 4.0x; EBIT/interest
above 2.5x and EBIT margins comfortably above 4%. A stabilization
of the ratings would also require the company to maintain a strong
liquidity buffer and continue to execute on its cost reduction
initiatives.

The ratings would likely be downgraded if market conditions
deteriorate meaningfully and/or InfraBuild is unable to execute on
its cost improvement initiatives, such that EBIT margins and EBIT
interest coverage do not show continued improvement from current
levels. Specifically, the ratings could be downgraded if
debt/EBITDA increases above 4x, EBIT/interest does not improve
towards 2.5x and/or EBIT margins remain below 4%. The ratings could
also be downgraded if InfraBuild's liquidity profile deteriorates
meaningfully from current levels.

The principal methodology used in these ratings was Steel Industry
published in September 2017.


INSIGHT PROJECTS: First Creditors' Meeting Set for Dec. 15
----------------------------------------------------------
A first meeting of the creditors in the proceedings of Insight
Projects (NSW) Pty Ltd will be held on Dec. 15, 2020, at 11:00 a.m.
at the offices of 'One Wharf Lane', Level 20, 171 Sussex Street, in
Sydney, NSW.

Jason Bing-Fai Tang and Ozem Kassem of Cor Cordis were appointed as
administrators of Insight Projects on Dec. 3, 2020.


ISIGNTHIS LTD: ASIC Commences Proceedings Against Co and Director
-----------------------------------------------------------------
Australian Securities and Investments Commission has commenced
civil penalty proceedings in the Federal Court against iSignthis
Ltd and its managing director and chief executive officer Nickolas
John Karantzis.

The proceedings allege breaches by iSignthis of its continuous
disclosure obligations and allege false and misleading
representations under the Corporations Act. In addition, the
proceedings also relate to Mr. Karantzis' involvement in those
alleged breaches by iSignthis, as well as breaches of directors'
duties and his failure to take reasonable steps to ensure
information that he gave to ASX was not false or misleading.

                       Integration agreements

ASIC alleges that iSignthis failed to disclose material information
in relation to three integration agreements in breach of its
continuous disclosure obligations.

The integration agreements were entered into with three customers,
being Corp Destination Pty Ltd, Fcorp Services Ltd and IMMO Servis
Group s.r.o. The agreements provided one-off integration and set-up
services for trading platforms. ASIC alleges the revenues derived
under the agreements resulted in iSignthis achieving performance
milestones which caused the allocation of 336,666,667 performance
shares, a substantial majority of which were allocated to the
directors of iSignthis, including to Mr. Karantzis.

Specifically, ASIC alleges iSignthis failed to disclose that in the
fourth quarter to June 30, 2018, it had recognised approximately
AUD3 million in revenue that was one-off and non-recurring. It is
alleged that the revenue was derived from the integration
agreements. In addition, ASIC alleges that iSignthis failed to
disclose it had incurred approximately AUD2.85 million in one-off
costs for out-sourcing services, which ASIC contends was for the
supply of the integration services.

ASIC also alleges iSignthis made misleading representations about
the revenues derived from the three integration agreements in an
analyst briefing given by Mr. Karantzis on August 3, 2018, when it
stated that iSignthis' revenue for one-off or up-front fees
accounted for less than 15% of the total revenue in the fourth
quarter to 30 June 2018, when ASIC alleges it actually amounted to
75% of the total unaudited revenue for that period.

ASIC also alleges that Mr. Karantzis was involved in the failure of
iSignthis to comply with its continuous disclosure obligations and
that Mr. Karantzis contravened his directors' duties under the
Corporations Act.

                       VISA relationship

ASIC's proceedings also relate to iSignthis' statements about the
suspension and termination of its commercial relationship with
VISA.

ASIC alleges that by April 17, 2020, iSignthis failed to disclose
that VISA had terminated its relationship with iSignthis and
iSignthis eMoney Ltd, and failed to disclose the reasons for VISA's
decision to terminate, which included that, according to VISA
"IsignThis is not operating appropriate programs to manage
Anti-Money Laundering and Risk".

ASIC alleges  Mr. Karantzis also failed to take reasonable steps to
ensure information that he gave (and authorised to be given) to ASX
regarding the suspension and termination by VISA was not false or
misleading.

ASIC is seeking declarations and pecuniary penalties against
iSignthis and Mr. Karantzis. ASIC is also seeking orders that Mr.
Karantzis be disqualified from managing corporations.

The date for the first case management hearing is yet to be
scheduled by the Court.

iSignthis Ltd (ASX: ISX) -- https://www.isignthis.com/ -- is a
deposit taking financial institution or 'neo bank' providing
transactional banking services in the EU/EEA and Australia. The
Company is a principal member of Visa, Mastercard, JCB, Diners,
Discover & ChinaUnionpay. It has a patented process for performing
KYC remotely to allow it to onboard consumers to its merchant's
platforms as well as to issue its own bank accounts.


RESIMAC TRIOMPHE 2020-3: S&P Gives Prelim. BB Rating to Cl. E Notes
-------------------------------------------------------------------
S&P Global Ratings assigned its preliminary ratings to eight
classes of prime residential mortgage-backed securities (RMBS) to
be issued by Perpetual Trustee Co. Ltd. as trustee for RESIMAC
Triomphe Trust - RESIMAC Premier Series 2020-3. RESIMAC Triomphe
Trust - RESIMAC Premier Series 2020-3 is a securitization of prime
residential mortgages originated by RESIMAC Ltd. (RESIMAC)

The preliminary ratings assigned reflect the following factors.

The credit risk of the underlying collateral portfolio and the
credit support provided to each rated class of notes are
commensurate with the ratings assigned. Subordination and lenders'
mortgage insurance (LMI) cover provide credit support. The credit
support provided to the rated notes is sufficient to cover the
assumed losses at the applicable rating stress. S&P's assessment of
credit risk takes into account RESIMAC's underwriting standards and
approval process, which are consistent with industrywide practices;
the strong servicing quality of RESIMAC; and the support provided
by the LMI policies on 21.4% of the portfolio.

S&P's ratings reflect RESIMAC's underwriting standards and approval
process, which are consistent with industrywide practices; the
strong servicing quality of RESIMAC; and the support provided by
the LMI policies on 21.7% of the portfolio.

The rated notes can meet timely payment of interest, excluding
residual class F note interest, and ultimate payment of principal
under the rating stresses.

Key rating factors are the level of subordination provided, the LMI
cover, the cross-currency swap, the liquidity facility, the
principal draw function, and the provision of an extraordinary
expense reserve. S&P's analysis is on the basis that the notes are
fully redeemed by their legal final maturity date and it does not
assume the notes are called at or beyond the call date.

S&P's ratings also take into account the counterparty exposure to
National Australia Bank Ltd. as cross-currency swap provider and
liquidity facility provider, and Westpac Banking Corp. as bank
account provider.

A currency swap is provided to hedge the Australian dollar receipts
from the underlying assets and the yen payments on the class A1
notes. The transaction documents for the swap and liquidity
facility include downgrade language consistent with S&P Global
Ratings' counterparty criteria. Interest-rate swaps might be
provided (subject to RESIMAC's hedging policy) to hedge the
fixed-rate receipts from the mortgage loans and the floating-rate
obligations on the notes. S&P has also factored into its ratings
the legal structure of the trust, which is established as a
special-purpose entity and meets its criteria for insolvency
remoteness.

Loss of income for borrowers in the coming months due to the
effects of COVID-19 might put upward pressure on mortgage arrears
over the longer term. S&P said, "We updated our outlook assumptions
for Australian RMBS in response to changing macroeconomic
conditions as a result of the COVID-19 outbreak. The collateral
pool at close for this transaction does not include any loans where
the borrower has applied for a COVID-19 hardship payment
arrangement. Nevertheless, we undertook additional cash-flow
sensitivity analysis to assess the rated notes' sensitivity to
delays in borrower payments should some borrowers enter hardship
arrangements following the closing date."

S&P Global Ratings believes there remains a high degree of
uncertainty about the evolution of the coronavirus pandemic.
Reports that at least one experimental vaccine is highly effective
and might gain initial approval by the end of the year are
promising, but this is merely the first step toward a return to
social and economic normality; equally critical is the widespread
availability of effective immunization, which could come by the
middle of next year. S&P said, "We use this assumption in assessing
the economic and credit implications associated with the pandemic.
As the situation evolves, we will update our assumptions and
estimates accordingly."

  PRELIMINARY RATINGS ASSIGNED

  RESIMAC Triomphe Trust - RESIMAC Premier Series 2020-3

  Class      Rating        Amount (mil.)
  A1         AAA (sf)      JPY18,750.000
  A2         AAA (sf)        A$650.000
  AB         AAA (sf)         A$58.000
  B          AA (sf)          A$15.000
  C          A (sf)           A$12.000
  D          BBB (sf)          A$6.500
  E          BB (sf)           A$3.500
  F          B (sf)            A$2.000
  G          NR                A$3.000

  NR--Not rated.


VILLAGE ROADSHOW: BGH Revised Takeover Bid on the Brink of Success
------------------------------------------------------------------
Zoe Samios at The Sydney Morning Herald reports that prominent
buyout firm BGH Capital is on the brink of succeeding with a
revised takeover bid for embattled theme parks and cinema operator
Village Roadshow despite an ongoing revolt by major independent
shareholder, New York-based Mittleman Brothers.

BGH, which is led by high profile dealmakers Ben Gray and Robin
Bishop, has hit several snags along the way in its attempt to buy
the owner of the Wet n' Wild and Seaworld theme parks and other
film distribution assets because the company's two biggest
independent shareholders Mittleman Brothers and Spheria Asset
Management were unhappy with the initial offer on the table, SMH
says. But BGH's final offer, worth up to AUD3 per share, is now
expected to succeed and put an end to the year-long rollercoaster
ride after proxy votes submitted over the weekend showed signs of
shareholder approval.

SMH relates that sources briefed on the votes submitted over the
weekend who spoke on the condition of anonymity said the Board is
expecting scheme A - which values the company's shares at AUD3 -
could be approved based on the number of votes already in favour of
the deal.

According to SMH, the sources said dissident shareholder Mittleman,
which owns more than 15 per cent of the company, has used some of
its shares to vote against the AUD3 per share offer but is expected
to decide on what to do with its remaining shares at the scheme
meeting on Dec. 7.

SMH says the New-York based firm may have the sway on the register
to defeat the scheme at AUD3 per share but it may be unable to
prevent a second scheme, worth AUD2.95 per share, from succeeding.
The second scheme can be voted for by the founding Kirby Family and
former chief executive Graham Burke (which have a combined
shareholding of 40.4 per cent), which makes Mittleman's stake too
small to block the offer on its own.

Mittleman could use the rest of its shares to try and block scheme
A but as it is almost certain scheme B will succeed, it could opt
for the higher bid.

BGH lifted revised its offer in November after Mittleman and
Spheria both rejected the earlier offer, the report states.

SMH adds that Chris Mittleman, chief investment officer at
Mittleman Brothers said the Kirby family and Mr. Burke should not
be allowed to vote.

"We believe the independent executive report is irrefutably
defective and shamelessly outcome-driven, and that the Kirby/Burke
Group sit on both sides of the coercive transaction in both schemes
and thus should not be allowed to vote on Scheme B, just like
they're not allowed to vote on Scheme A, and the smoke and mirrors
they put up in attempt to obfuscate that reality are obvious," the
report quotes Mr. Mittleman as saying.

According to SMH, Mr. Mittleman has threatened legal action against
the directors and an independent committee for recommending the bid
and recently released a 21-page presentation last month raising his
concerns with the independent report and the offer.

Spheria, which owns 7.8 per cent of ASX-listed Village, has already
said it intends to vote in favor revised offer but the intention of
Mittleman remains unclear, the report notes.

Village has been troubled since a bitter and public family feud
between the Kirby brothers in 2019 over the leadership and
direction of the company, according to the report. BGH first
proposed to buy Village shares for AUD4 last January, valuing the
company at more than AUD770 million. But the coronavirus pandemic
forced Village to close its cinemas and theme parks for part of
this year and social distancing restrictions significantly affected
cash flow. The company still has an enormous debt pile and is
fighting an Australian Tax Office ruling for AUD11 million, SMH
notes.

Headquartered in Melbourne, Australia, Village Roadshow Limited
(ASX:VRL) -- https://villageroadshow.com.au/ -- operations include
cinema exhibition, the distribution of film, DVD's and videos, and
the production of motion pictures. The Company operates tourist
theme parks and resorts along with operating FM radio stations.


WINDOWS ON THE WORLD: First Creditors' Meeting Set for Dec. 15
--------------------------------------------------------------
A first meeting of the creditors in the proceedings of Windows on
the World Steel Windows Pty Ltd As Trustee for the WOW Unit Trust
will be held on Dec. 15, 2020, at 11:30 a.m. of Valles Accountants,
Mezzanine, Level 1, 452 Flinders Street, in Melbourne, Victoria.

Joshua Philip Taylor -- jtaylor@taylorinsolvency.com.au -- of
Taylor Insolvency was appointed as administrators of Windows on the
World Steel on Dec. 3, 2020.




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C H I N A
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LOGAN GROUP: S&P Rates New USD Sr. Unsecured Notes 'BB-'
--------------------------------------------------------
S&P Global Ratings assigned its 'BB-' long-term issue rating to a
proposed issue of U.S.-dollar-denominated senior unsecured notes by
Logan Group Co. Ltd. (BB/Stable/--). The China-based developer
intends to use the proceeds to refinance its existing debt. The
issue rating is subject to its review of the final issuance
documentation.

S&P said, "We rate the senior unsecured notes one notch below the
issuer credit rating on Logan to reflect structural subordination
risk. As of June 30, 2020, Logan's capital structure consisted of
Chinese renminbi (RMB) 63.2 billion in secured debt and unsecured
debt at the subsidiary level (including financial guarantees
provided to borrowings by joint ventures), and RMB32.4 billion in
unsecured debt at the parent level (including perpetual
securities). As such, its priority debt ratio is 66%, which was
above our notching threshold of 50%.

"We expect Logan to maintain its high margins and disciplined land
acquisitions. Robust operating profit growth and good cash
collection will likely improve its leverage. We anticipate the
company's financial leverage will stabilize at around 4x over the
next 12 months."


SEAZEN GROUP: Fitch Upgrades LT IDRs to BB+, Outlook Stable
-----------------------------------------------------------
Fitch Ratings has upgraded China-based homebuilder Seazen Group
Limited's (SGL) Long-Term Foreign- and Local-Currency Issuer
Default Ratings (IDR) to 'BB+' from 'BB'. The Outlook is Stable.
Fitch has also upgraded the Long-Term Foreign-Currency IDR of SGL's
67%-owned subsidiary, Seazen Holdings Co., Ltd. (SHCL), to 'BB+'
from 'BB'. The Outlook is Stable.

The rating upgrade reflects Fitch's view that SGL's large scale of
CNY160 billion-180 billion in attributable sales in 2019-2020 is
comparable with low investment-grade peers, and that it will be
able to keep its leverage below 40%, which had dropped to 32% in
1H20. In addition, recurring rental income from the group's
shopping mall portfolio has increased. Fitch estimates recurring
EBITDA/interest of 0.5x in 2020, despite the coronavirus pandemic.

Fitch uses a consolidated approach to rate SHCL based on its Parent
and Subsidiary Linkage Rating Criteria.

KEY RATING DRIVERS

Large Scale, Sales Recovering: SGL's monthly sales resumed positive
yoy growth in October 2020, although total sales were down by 14%
in 10M20 to CNY191 billion, with an average selling price (ASP) of
CNY10,700/square metre (sqm). Attributable and consolidated sales
account for around 70% and 60%, respectively, of the group's total
sales.

SGL reported satisfactory moving-average cash collection of around
90% and Fitch believes it remains on track to achieve its CNY250
billion total contracted sales target for 2020, which is 8% lower
than its 2019 sales. Fitch expects SGL to keep sales at CNY250
billion-270 billion in 2021-2022 to support its ranking as a top-20
property developer.

Lower Leverage Levels: Fitch expects SGL's year-end leverage to
remain below 40%, as Fitch believes it is committed to controlling
leverage at current levels, despite some fluctuation from land
replenishment to maintain its large scale. SGL's leverage,
including proportionate consolidation of joint ventures and
associates, dropped to 26% in 2019, from 44% in 2018, after it
suspended land acquisitions and asset disposals in 2H19. However,
leverage climbed back to 32% in 1H20 and Fitch estimates that it
reached 36% in September based on SHCL's 3Q20 reporting.

SGL spent CNY69 billion on attributable land premium in 10M20,
which Fitch estimates to be 60% of sales proceeds, up from CNY41
billion, or 25%, in 2019, and has budgeted CNY75 billion, or
40%-45% of cash collection, for land purchases in 2020-2021. Its
estimates are more conservative, as Fitch expects the company to
spend 50%-55% of sales proceeds on land in the next two years,
although actual land payments may be delayed and lower than
publicly disclosed.

Recurring Income Supports Rating: Fitch expects recurring income of
CNY5.0 billion in 2020 and CNY8.0 billion in 2021 to boost SGL's
interest coverage to 0.5x and 0.6x, respectively. Fitch estimates
that CNY2.3 billion of recurring EBITDA from CNY4.0 billion in
rental and management fee income covered 0.4x of interest paid in
2019. SGL halved rents for two months in response to the pandemic,
but this should be offset by expanded leasable gross floor area
(LFA). SHCL's rental revenue reached CNY3.4 billion before tax in
3Q20, while LFA rose 13% from 2019 to four million sqm. SGL added
23 Wuyue Plazas in 2019 and is on track to add 30 each in 2020 and
2021.

Stabilised Operation: SGL's operational and financial risks, as
well as its access to liquidity, did not deteriorated significantly
after its former chairman was sentenced to goal in June 2020. The
former chairman's son, previously a non-executive director, has
assumed the role of chairperson of SGL and SHCL. The former
chairman no longer has a role in the group, but retains a 68% stake
in SGL.

Focus on Yangtze River Delta: SGL's sales contribution was mainly
from the Yangtze River Delta (YRD) and tier three and four cities
and Fitch expects the group to benefit from strong demand in YRD as
well as in central and western China. The group's focus on the YRD
has driven its expansion and strong sales turnover, as measured by
consolidated contracted sales/gross debt, although SGL reduced its
reliance on the region to 55% of contracted sales in 1H20, from 80%
in 2017. SGL's successful fast-churn strategy is evident from its
high sales turnover of 1.8x in 2019.

Diversified and Sufficient Land Bank: SGL had total land bank of
137 million sqm at end-1H20. Fitch estimates its available-for-sale
portion of 124 million sqm will support sales for three to four
years. The group will continue to focus on YRD, but has been
increasing its land bank outside the region to buffer against
regional market uncertainty. YRD accounted for 46% of SGL's land
bank by gross floor area at end-2019 and 44% at end-1H20. New land
acquisitions in YRD still accounted for 37% of total land premium
in 2019 and 56% in 1H20.

Margin Decline Credit Neutral: Fitch expects SGL's full-year EBITDA
margin, without adjusting for capitalised interest, to recover to
16%, a level similar to SHCL's 3Q20 results, after dropping to 13%
in 1H20, from 21% in 2019. Fitch thinks the fall was in line with
industry trends. Land cost are stable, but unit construction cost
rose to CNY4,147/sqm in 1H20, from CNY3,919/sqm in 2019, as more
decoration costs are being embedded in construction expenses. The
company also attributes the margin drop to government-imposed price
ceilings to clamp down on speculative housing purchases.

DERIVATION SUMMARY

Fitch's consolidated approach to rating SGL and SHCL is based on
its Parent and Subsidiary Linkage Rating Criteria due to SGL's 67%
stake in SHCL. The strong strategic and operational ties are
reflected by SGL representing SHCL's entire exposure to the China
homebuilding business, while SGL raises offshore capital to fund
the group's business expansion. The two entities share the same
chairman.

SGL's quick sales churn strategy contributed to the rapid expansion
of its contracted sales to a level that is higher than that of most
'BB' category peers. SGL's total sales and attributable sales
reached CNY270 billion and CNY180 billion respectively in 2019,
almost double the size of Logan Group Company Limited (BB/Stable)
and China Aoyuan Group Limited (BB/Stable), while the leverage of
32% at end-1H20 is similar to Logan's 32% and Aoyuan's 35% at
end-2019. SGL lowered its leverage - defined by net debt/adjusted
inventory after joint ventures and associate proportionate
consolidation - to 26% in 2019 due to fewer land acquisitions, but
leverage increased during 2020 after land acquisitions resumed,
although Fitch estimates the company will maintain its leverage
below 40%.

SGL has also rapidly expanded its investment properties, which
generated CNY3.9 billion of recurring income and had recurring
EBITDA/interest of 0.4x in 2019, a level higher than Sino-Ocean
Group's 0.3x and Jinmao's 0.2x. SGL's investment-property portfolio
of around CNY66 billion at end-1H20 was much larger than that of
all 'BB' rated peers, which helps justify the one-notch
difference.

Compared with investment-grade peers, SGL has a much shorter track
record of maintaining a stable financial profile as it aggressively
expanded and built up land bank in 2016-2019. Shimao Group Holdings
Limited (BBB-/Stable) had lower leverage of below 35% in 2016-2019
while also enjoying 55% CAGR growth in attributable sales to reach
CNY182 billion in 2019. Shimao also had an investment-property
portfolio that generates recurring income to cover 0.3x of cash
interest paid.

KEY ASSUMPTIONS

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

  - total contracted sales of about CNY250 billion per year in
2020-2021 with around 70% attributable interest.

  - attributable land premium represents 55% and 50% of
attributable sales proceeds in 2020 and 2021, respectively, based
on actual attributable land premium from the company's A share
financial disclosures.

  - attributable property development and Wuyue Plaza construction
costs equivalent to 35%-40% of attributable sales collection in
2020-2021

  - Investment-property revenue to reach CNY5.0 billion and CNY8.0
billion in 2020 and 2021, with a stable gross profit margin at
68%.

  - Overall EBITDA margin (excluding capitalised interest) to
remain above 25%

  - SGL maintains controlling shareholding in SHCL and no weakening
in the operational ties between the two entities

RATING SENSITIVITIES

For both SGL and SHCL:

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

  - Net debt/adjusted inventory (after proportionate consolidation
of joint ventures) sustained below 30%

  - Recurring EBITDA/interest paid sustained above 0.6x

  - Sustained neutral to positive cash flow from operations.

  - Longer track record of operational and financial stability
comparable with that of investment-grade peers.

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

  - Net debt/adjusted inventory (after proportionate consolidation
of joint ventures) above 40% for a sustained period

  - Recurring EBITDA/interest paid sustained below 0.3x

  - For SGL, a weakening of linkages between SGL and SHCL may lead
to negative rating action.

All ratios mentioned are based on SGL's consolidated financial
data.

LIQUIDITY AND DEBT STRUCTURE

Sufficient Liquidity: SGL had an unrestricted cash balance of
CNY59.8 billion at end 1H20, sufficient to cover short-term
borrowings of CNY45 billion. SHCL also showed sufficient liquidity
at end-September 2020, with CNY52 billion in available cash to
cover CNY33 billion short-term debt. The group's funding cost came
back down to 6.8% in 1H20, after temporarily climbing to 7.0% in
2H19, from 6.6% in 1H19. The company issued asset-based securities
totaling CNY2.9 billion at 4.8% in early 2020, backed by four of
its Wuyue malls. Fitch expects the group to gradually monetise its
malls to obtain low-cost funding.

Stable Funding Access Ensures Liquidity: The arrest of the former
chairman temporarily affected the group's funding access, but it
has managed to obtain financing from a large number of onshore and
offshore banks since August 2019. Funding access further improved
with multiple domestic and offshore issuances in 2020. The group's
continued growth in contracted sales, project disposals and its
decision to slow land acquisitions in 2H19 have helped maintain
adequate liquidity.

The group's onshore and offshore bonds have change of control
covenants, whereby the group has to make an offer to repurchase all
outstanding notes if a change of control is accompanied by negative
rating action, a Negative Outlook or a downgrade by an onshore
rating agency for its onshore bonds or an international rating
agency for its offshore bonds. The group has not breached its bond
covenants since the former chairperson's arrest.

REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF
RATING

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

ESG CONSIDERATIONS

SGL's and SHCL's ESG Relevance Score for Governance Structure has
been revised to 3 from 4, following the subdued impact from the
arrest of the group's former chairman in 2019 and the resumption of
normal operations. The score was 4 previously as the former
chairman had a 68% stake in SGL, a concentrated ownership structure
that damaged the group's credit profile when he was arrested,
affecting both the company's land acquisition activity and funding
access.

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


YONGCHENG COAL: Creditors OK More Repayment Plans After Defaults
----------------------------------------------------------------
Reuters reports that creditors of China's Yongcheng Coal &
Electricity Holding Group Co have agreed to repayment plans for two
commercial paper issues after the state-owned miner defaulted on
them in late November, underwriters said on Dec. 4.

According to Reuters, defaults by highly rated Chinese state firms
including Yongcheng caught the world's second-largest bond market
off guard last month and prompted speculation that Beijing may be
renewing a deleveraging push interrupted by the COVID-19 pandemic.

At meetings on Dec. 1, creditors agreed that Yongcheng would first
repay 50% of the principal on the two issues on which it defaulted,
with the remainder extended for 270 days, underwriters said in
statements on the website of the National Interbank Funding Center,
Reuters relays.

Reuters says Yongcheng's 4.35% 1-billion yuan ($153.08 million)
commercial paper, underwritten by China Citic Bank Corp Ltd and
Bank of Zhengzhou Co Ltd, matured on Nov. 22.

Another CNY1 billion 4.38% commercial paper issue, underwritten by
China Citic Bank and Hua Xia Bank Co Ltd, matured Nov. 23.

Reuters relates that the repayment plans follow the same structure
as one agreed to by creditors to repay commercial paper on which
Yongcheng defaulted on Nov. 10. The company said last week that it
had repaid creditors 50% of the principal on that instrument.

Another creditor meeting to be held on Dec. 8 will vote on a
similar plan - though with interest paid together with 50% of the
principal - for another CNY1 billion commercial paper issue
maturing on Dec. 15, underwriters China Guangfa Bank Co Ltd and
Bank of China Ltd said in a statement on Dec. 4, according to
Reuters. A deal could avoid triggering a default.

Yongcheng faces maturities on two more CNY1 billion commercial
paper issues on Dec. 18 and Dec. 25, Reuters discloses citing
Refinitiv data.

Regulators have launched probes into Yongcheng, its auditor and
some of its underwriters, adds Reuters.

Yongcheng Coal & Electricity Holding Group Co. Ltd. mines and
distributes coal products. The Company produces brown coal
products, bituminous coal products, hard coal products, coking coal
products, and other related products. Yongcheng Coal & Electricity
Holding Group also provides electric generation, apparel
processing, trade, and other related services.

The company defaulted on a CNY1 billion (US$152 million) bond on
November 10, 2020.




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

ACUBE KRAFT: CRISIL Reaffirms B Rating on INR4.9cr Loans
--------------------------------------------------------
CRISIL has reaffirmed its 'CRISIL B/Stable' rating on the long-term
bank facilities of Acube Kraft Concepts Private Limited (AKCPL).

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            1         CRISIL B/Stable (Reaffirmed)

   Term Loan              3.9       CRISIL B/Stable (Reaffirmed)

The rating continues to reflect the company's modest scale of
operations and working capital intensive nature of business. These
weaknesses are partially offset by the extensive experience of the
promoters in the home furnishings industry and established
relationships with suppliers and customers.

In fiscal 2021, the business was briefly impacted due to the
Covid-19 pandemic; however, the company has seen a revival in
orders and is expected to see an expansion in the topline over the
previous fiscal with revenue of INR2.72 crore as of September
2020.

Analytical Approach
Unsecured loan of INR64.59 lakh as on March 31, 2020, from the
promoters has been treated as debt.

Key Rating Drivers & Detailed Description

Weaknesses:

* Nascent stage of operations: AKCPL commenced operations in
September 2018, with fiscal 2020 being the first full year of
operations. Improvement in scale of operations by acquiring new
clients and improving capacity utilisation will remain a key
monitorable.

* Working capital intensive business: Operations remain working
capital intensive because of high inventory maintained based on the
long conversion periods. Gross current assets were at 323 days as
on March 31, 2020, and are expected at 260-280 days over the medium
term.

Strength:

* Extensive experience of the promoters: The promoters have
experience of over 40 years in the home furnishings industry. This
has given them an understanding of market dynamics and helped to
establish relationships with suppliers and customers.

Liquidity Stretched

* High bank limit utilisation: Bank limit utilisation was 96.81%
for the 12 months through September 2020.

* Cash accrual sufficient to meet debt obligation: Cash accrual is
expected at INR1.5-2 crore per fiscal against term debt obligation
of INR0.6-0.8 crore over the medium term. In addition, it will
cushion the liquidity of the company.

* Moderate current ratio: Current ratio was moderate at 0.94 time
as on March 31, 2020.

Outlook: Stable

CRISIL believes AKCPL will continue to benefit from the extensive
experience of the promoters and established relationships with
suppliers and customers.

Rating Sensitivity factors

Upward factors

  * Sustained improvement in scale of operation by 20-25% and
sustenance of operating margin

  * Improvement in working capital cycle, leading to improvement in
overall liquidity

Downward factors

  * Decline in net cash accruals below INR1 crore on account of
decline in operating profits.

  * Stretch in working capital cycle

  * Large debt-funded capital expenditure weakens capital
structure

Incorporated in 2016, AKCPL is promoted by Mr. Pramod Kumar Gupta,
Mr. Ankur Prakash and Mr. Arpit Prakash. The company manufactures
decorative handicrafts. It has a production facility in SEZ
Moradabad.


BALAJI COTGIN: CRISIL Keeps B Debt Ratings in Not Cooperating
-------------------------------------------------------------
CRISIL said the ratings on bank facilities of Shree Balaji Cotgin
Private Limited (SBCPL) continue to be 'CRISIL B/Stable Issuer Not
Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           2.75       CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)

   Proposed Long Term    1.23       CRISIL B/Stable (ISSUER NOT
   Bank Loan Facility               COOPERATING)

   Term Loan             2.02       CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with SBCPL for obtaining
information through letters and emails dated April 18, 2020 and
October 17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

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

SBCPL, incorporated in 2014, is managed by Mr. Ravikumar Garg and
Mr. Gokulsing Dhobal. The company gins and presses cotton to make
bales. It has a manufacturing capacity of 1000 quintal of cotton
per day. Its registered office is in Mantha, Maharashtra.


CORAL INFRA: Insolvency Resolution Process Case Summary
-------------------------------------------------------
Debtor: Coral Infra Gold Private Limited

        Registered office address:
        Near Mahesh Bhawan
        Daga Chowk
        Bikaner (Raj) 334001

        Corporate office:
        E-92, Coral Castle
        Subhash Marg, C-Scheme
        Jaipur (Raj) 302001

Insolvency Commencement Date: November 25, 2020

Court: National Company Law Tribunal, Jaipur Bench

Estimated date of closure of
insolvency resolution process: May 24, 2021

Insolvency professional: Mahesh Chandra Purohit

Interim Resolution
Professional:            Mahesh Chandra Purohit
                         105/101, Chhatrapati Marg
                         Vijay Path, Mansarovar
                         Jaipur 302020
                         Rajasthan
                         E-mail: mcpurohit1107@gmail.com

                            - and -

                         414, Ganpati Plaza
                         MI Road
                         Jaipur 302001
                         Rajasthan
                         E-mail: cirp.coral.infragold@gmail.com

Classes of creditors:    Home Buyers/Allotees

Insolvency
Professionals
Representative of
Creditors in a class:    Mr. Suresh Agrawal
                         Mr. Hemant Kumar Bansal
                         Ms. Sarita Duck

Last date for
submission of claims:    December 9, 2020


KARNATAKA MACHINE: CRISIL Keeps B+ Ratings in Not Cooperating
-------------------------------------------------------------
CRISIL said the ratings on bank facilities of Karnataka Machine
Tools (KMT) continue to be 'CRISIL B+/Stable/CRISIL A4 Issuer not
cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Bank Guarantee         0.1       CRISIL A4 (ISSUER NOT
                                    COOPERATING)

   Cash Credit            0.5       CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

   Letter of Credit       0.3       CRISIL A4 (ISSUER NOT
                                    COOPERATING)

   Long Term Loan         3         CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

   Packing Credit         2         CRISIL A4 (ISSUER NOT
   in Foreign Currency              COOPERATING)

   Proposed Long Term     3.79      CRISIL B+/Stable (ISSUER NOT
   Bank Loan Facility               COOPERATING)

CRISIL has been consistently following up with KMT for obtaining
information through letters and emails dated April 18, 2020 and
October 17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of KMT, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on KMT is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of KMT
continues to be 'CRISIL B+/Stable/CRISIL A4 Issuer not
cooperating'.

KMT, based in Bengaluru, is promoted by Mr. Sulaiman Jamal. The
firm manufactures gears, gear boxes, and components.


MAHASHAKTHI CHEMICALS: CARE Cuts Rating on INR7.50cr Loan to C
--------------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Mahashakthi Chemicals and Fertilizers Private Limited (MCFPL), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        7.50      CARE C; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category and
                                   Revised from CARE B-; Stable;

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated September 9, 2019 placed the
rating(s) MCFPL under the 'issuer non-cooperating' category as
MCFPL had failed to provide information for monitoring of the
rating. MCFPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails, phone calls
and email dated September 30, 2020 to October 19, 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 ratings is on account of non-availability of
requisite information. The ratings assigned to the bank facilities
of Mahashakthi Chemicals and Fertilizers Private Limited (MCFPL)
takes into account net losses and cash losses during FY19 (refer to
the period from April 1 to March 31). The rating continue to remain
constrained by short track record of operations and small scale of
operations, weak debt coverage indicators, working capital
intensive nature of operations due to elongated collection period
and high competition from other players. The rating, however,
continues to draw strength from experienced promoters with more
than two decades of experience in the fertilizers industry and long
term relationship with suppliers and diversified customers.

Detailed description of the key rating drivers

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

Key Rating Weaknesses

* Short track record of operations and small Scale of operations:
The company started its operations in January 2015. The scale of
operations marked by total operating income declined significantly
and stood at INR3.76 crore in FY19 as compared to INR14.71 crore in
FY18.

* Net losses and cash losses during the current year: The company
has incurred net losses, hence the PBILDT and PAT margin stood
negative at 60.92% and 112.48% in FY19 as compared to 12% and 0.88%
in FY18 due to decline in the scale of operations.

* Weak debt coverage indicators: The debt coverage indicators
marked by PBILDT interest coverage and TD/GCA also stood at
negative on back of net losses and cash losses during FY19.

* Working capital intensive nature of operations due to elongated
collection period: The operating cycle of the company stood
elongated at 564 days in FY19 as compared to 102 days in FY18 due
to elongated collection period of 497 days as on March 31, 2019.

* High competition from other players: The fertilizers industry is
highly fragmented and competitive marked by the presence of large
number of small & established players. Owing to low entry barriers,
competition is significantly high and the manufacturers in the
industry do not have pricing power leading to stress on
profitability.

Key Rating Strengths

* Experienced promoters with more than two decades of experience in
the fertilizers industry: Mr. N. S. Viswanath (chairman) & Mr. H.
S. Chidananda (MD) hold degree of B.Sc.(agriculture) and have
experience of 27 years and 15 years respectively in the similar
industry. Both of them have worked in Mangalore Chemical &
Fertilizers Ltd and currently managing overall operations of the
company.

* Long term relationship with supplier and diversified customers:
Though the company started its business from January, 2015 onwards,
the promoters of the company enjoy good relationship
with the customers and suppliers across the state through their
past experience in the fertilizers industry.

Mahashakthi Chemicals and Fertilizers Private Limited (MCFPL), was
initially established as a Shree Chamundeswari Fertilizers and
Chemicals Private Ltd and renamed as MCFPL. MCFPL was incorporated
in November, 2012 and started its commercial operations from
January, 2015 is managed by Mr. H.S.Chidananda and other eight
directors. MCFPL is engaged in the business of trading and
manufacturing of granulated fertilizers and soil conditioner. MCFPL
product profile includes NPK(Nitrogen, potassium and phosphorus) of
different grades like 17:17:17, 20:20:0, 20:10:10, 18:18:10,
10:20:10, 14:6:21 and 15:05:05.


N.S.K. BUILDERS: CRISIL Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------------
CRISIL said the ratings on bank facilities of N.S.K. Builders
Private Limited (NBPL) continue to be 'CRISIL D/CRISIL D Issuer not
cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Bank Guarantee         27        CRISIL D (ISSUER NOT
                                    COOPERATING)

   Cash Credit            15        CRISIL D (ISSUER NOT
                                    COOPERATING)

   Open Cash Credit        8        CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with NBPL for obtaining
information through letters and emails dated April 18, 2020 and
October 17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

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

Formed in 1996 as a partnership entity, and later incorporated as a
private limited company in 2010, NBPL, promoted by Mr. NSK
Kalairaja and Mr. NSK Karunairaja, undertakes large infrastructure
projects such as roads and building construction.


NATURAL HERBALS: CRISIL Lowers Rating on INR19.5cr Loan to B
------------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Natural
Herbals and Seeds (NHS) to 'CRISIL B/Stable Issuer Not Cooperating'
from 'CRISIL BB-/Stable Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           19.5       CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL BB-/Stable ISSUER NOT
                                    COOPERATING')

CRISIL has been consistently following up with NHS for obtaining
information through letters and emails dated April 18, 2020 and
October 17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

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

NHS, a partnership firm, was started in 2011 by Mr. Praveen Rastogi
and his family members. Its manufacturing units are in Uttarakhand.
It produces menthol products such as menthol crystals and flags.


NIWAS DALL: CRISIL Keeps B+ Debt Rating in Not Cooperating
----------------------------------------------------------
CRISIL said the ratings on bank facilities of Shri Niwas Dall and
Besan Mill (SNDBM) continue to be 'CRISIL B+/Stable/CRISIL A4
Issuer not cooperating'.
                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            16        CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

   Overdraft               2.5      CRISIL A4 (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with SNDBM for obtaining
information through letters and emails dated April 18, 2020 and
October 17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of SNDBM, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SNDBM is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of SNDBM
continues to be 'CRISIL B+/Stable/CRISIL A4 Issuer not
cooperating'.

Incorporated in 2010, Shri Niwas Dall and Besan Mill (SNDBM) is a
partnership firm engaged in processing of pulses. The firm is
promoted by Mr. Santkumar and Mr.Subhash Singhal is based in
Delhi.


NUTAVE STONE: CRISIL Keeps B Debt Ratings in Not Cooperating
------------------------------------------------------------
CRISIL said the ratings on bank facilities of Nutave Stone Crushers
(NSC) continue to be 'CRISIL B/Stable Issuer Not Cooperating'.

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

   Proposed Long Term   .29         CRISIL B/Stable (ISSUER NOT
   Bank Loan Facility               COOPERATING)

   Term Loan           4.96         CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with NSC for obtaining
information through letters and emails dated April 18, 2020 and
October 17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

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

NSC, incorporated as a partnership concern in 2015, has set up a
plant for crushing of stones, at Nutave village, Karnataka. The
plant, with a capacity of 300 tonnes per hour, has become
operational from October 2016.


ONEWORLD SOURCING: CRISIL Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Oneworld Sourcing
(OS; part of Oneworld group) continue to be 'CRISIL D Issuer Not
Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit          66          CRISIL D (ISSUER NOT
                                    COOPERATING)

   Term Loan            12          CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with OS for obtaining
information through letters and emails dated April 18, 2020 and
October 17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

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

For arriving at the rating, CRISIL has combined the business and
financial risk profiles of OS, Oneworld Creations Private Limited
(OCPL), Oneworld Industries Private Limited (OIPL), Oneworld Retail
Private Limited (ORPL), Ultimo Fabrics Private Limited (UFPL),
Worldstar Fabrics LLP (WF), Tissori India Fabrics Pvt Ltd (TIPL),
Maison De Couture Pvt Ltd (MDC), Worsted Overseas Trading LLP
(WOT), Oneworld Design Studio (ODS) and Zephyr Fabrics (ZF). This
is because all these entities, together referred to as the Oneworld
group, are in the same line of business and under a common
management, and have operational synergies.

Promoted and managed by Mr. Urvil Jani and Mr. Manoj Khushalani,
the Oneworld group trades in textile materials. It also sells
ready-made garments, manufacturing of which is outsourced.
Registered office is in Mumbai.


PAMI METALS: Ind-Ra Moves 'D+' LT Issuer Rating to Non-Cooperating
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Pami Metals 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 D
(ISSUER NOT COOPERATING)' on the agency's website.

The instrument-wise rating actions are:

-- INR340 mil. Fund-based limit (Long-term/Short-term) migrated
     to non-cooperating category with IND D (ISSUER NOT
     COOPERATING) rating;

-- INR23 mil. Term loan (Long-term) due on January 2022 migrated
     to non-cooperating category with IND D (ISSUER NOT
     COOPERATING) rating; and

-- INR10 mil. Non-fund-based limit (Short-term) migrated to non-
     cooperating category with IND D (ISSUER NOT COOPERATING)
     rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
November 13, 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 1989, Kolkata-based Pami Metals manufactures copper
components, copper extrusions and fabricated sheet metals for
companies in the power and infrastructure sectors.


PATIL AUTOMATION: CRISIL Lowers Rating on INR4cr Loan to 'B'
------------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Patil
Automation Private Limited (PAPL) to 'CRISIL B/Stable/CRISIL A4
Issuer Not Cooperating' from 'CRISIL BB-/Stable/CRISIL A4+ Issuer
Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Bank Guarantee         4         CRISIL A4 (ISSUER NOT
                                    COOPERATING; Revised from
                                    'CRISIL A4+ ISSUER NOT
                                    COOPERATING')

   Proposed Bank          2.45      CRISIL B/Stable (ISSUER NOT
   Guarantee                        COOPERATING; Revised from
                                    'CRISIL BB-/Stable ISSUER NOT
                                    COOPERATING')

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

   Working Capital        1 .00     CRISIL B/Stable (ISSUER NOT
   Term Loan                        COOPERATING; Revised from
                                    'CRISIL BB-/Stable ISSUER NOT
                                    COOPERATING')

CRISIL has been consistently following up with PAPL for obtaining
information through letters and emails dated April 18, 2020 and
October 17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of PAPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on PAPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of PAPL
revised to 'CRISIL B/Stable/CRISIL A4 Issuer Not Cooperating' from
'CRISIL BB-/Stable/CRISIL A4+ Issuer Not Cooperating'.

PAPL was incorporated in September 2015 by Mr. Manoj Patil and his
wife Ms Arti Patil in Pune (Maharashtra). The company designs,
manufactures, markets, and services machinery, assembly lines, and
conveyors for automobile manufacturers. It caters to the domestic
and international markets. Its manufacturing facilities are at
Chakan in Pune.


PATSON GLOBAL: CRISIL Keeps B+ Debt Ratings in Not Cooperating
--------------------------------------------------------------
CRISIL said the ratings on bank facilities of Patson Global Limited
(PGL) continue to be 'CRISIL B+/Stable Issuer Not Cooperating'.

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

   Channel Financing      9.6       CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

   Proposed Cash          1.4       CRISIL B+/Stable (ISSUER NOT
   Credit Limit                     COOPERATING)

CRISIL has been consistently following up with PGL for obtaining
information through letters and emails dated April 18, 2020 and
October 17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

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

PGL, incorporated in 2005 and promoted by the Patna-based Patwari
family, is a super distributor of TMT bars, pipes, and other long
products in Bihar and Bengaluru. It is also a distributor of Steel
Authority of India Ltd (SAIL) in Bengaluru for hot-rolled and
soft-rolled coils, and other products, and of Indo Farm Equipment
Ltd in Bihar for tractors. Operations are managed by its
promoter-director, Mr. Raj Kumar Patwari.


PRAKASH INDUSTRIAL: CRISIL Keeps B on INR8cr Debt in NonCooperating
-------------------------------------------------------------------
CRISIL said the rating on bank facilities of Prakash Industrial
Infrastructure Private Limited (PIIPL) continues to be 'CRISIL
B/Stable Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Term Loan             8.5        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with PIIPL for obtaining
information through letters and emails dated April 18, 2020 and
October 17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

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

Set up in 1975 as a partnership firm, Prakash Constructions, and
reconstituted as a private limited company in 2006, PIIPL is
promoted by Mr. Dinesh Agrawal and undertakes civil construction,
primarily for industrial projects, in the private sector.

PRALHADRAO SALUNKHEPATIL: CRISIL Keeps B Rating in Not Cooperating
------------------------------------------------------------------
CRISIL said the rating on bank facilities of Pralhadrao
Salunkhepatil Agro Private Limited (PSAPL) continues to be 'CRISIL
B/Stable Issuer Not Cooperating'.

                          Amount
   Facilities         (INR Crore)    Ratings
   ----------         -----------    -------
   Proposed Long Term      15        CRISIL B/Stable (ISSUER NOT
   Bank Loan Facility                COOPERATING)

CRISIL has been consistently following up with PSAPL for obtaining
information through letters and emails dated April 18, 2020 and
October 17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

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

Incorporated in February 2017, PSAPL plans to set up a poultry
facility to rear chicken in Satara, Maharashtra. It is promoted by
Mrs. Madhuri Salunkhe and Mrs. Vimal Salunkhe. It also plans to set
up a feed mill for meeting its raw material requirement.


PRE UNIQUE PRIVATE: Ind-Ra Affirms 'B' LT Issuer Rating
-------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed Pre Unique (India)
Private Limited's (PUIPL) Long-Term Issuer Rating at 'IND B'. The
Outlook is Stable.

The instrument-wise rating actions are:

-- INR10.00 mil. Fund-based working capital limit affirmed with
     IND B/Stable/IND A4 rating; and

-- INR100.00 mil. Non-fund-based working limit affirmed with
     IND A4 rating.

KEY RATING DRIVERS

The affirmation reflects PUIPL's continued small scale of
operations with the revenue declining 8.37% yoy to INR191.96
million, according to the provisional financials of FY20. The
decline in the revenue was due to the reduced processing of the
palm oil seeds on account of insufficient raw material which
contributes to the operation and maintenance revenue segment. The
agency believes the company's revenue profile will continue to be
small in FY21 due to its lower-than-expected order book. As of
November 25, 2020, the company had booked revenue of INR120.00
million.

The margin was healthy at 8.71% in FY20 (FY19: 3.77%) with an
improvement in EBITDA owing to high-margin orders i.e. the
modernization of one project. However historically, the margins
have been modest. The type of contract secured along with cost
competitiveness are the determinants of operating margin. The
return on capital employed stood at 22% in FY20 (FY19: 9%). The
agency believes the company's margin will be modest in FY21 with no
new high-margin order in hand. In addition to this, the company's
plans to enter into the trading of refined palm oil is likely to
hold the margin at the modest level in the near term.

PUIPL's credit metrics are moderate with the gross interest
coverage (operating EBITDA/gross interest expense) of 2.10x in FY20
(FY19: 3.00x) and the net leverage (adjusted net debt/operating
EBITDAR) of 1.12x (4.92x). The gross interest coverage deteriorated
in FY20 as the interest expense rose due to an increase in the
utilization of short-term debt. On the contrary, the net interest
coverage was strong at 22.24x in FY20 (FY19: negative 6.6x) on
account of higher interest receipts on fixed deposit. The net
leverage improved in FY20 due to the repayment of an unsecured loan
that remains to be non-interest bearing in nature.

Liquidity  Indicator - Stretched: The company's cash and cash
equivalents were low at INR16.72 million in FY20 (FY19: INR7.90
million). During FY20, the cash flow from operations improved
marginally to INR22.07 million (FY19: INR1.50 million) owing to an
increase in EBITDA. The agency expects the cash flow from
operations to be modest in FY21 considering the small scale of
operations and low EBITDA. The maximum average utilization of
PUIPL's fund-based limits was 65.40% for the 12 months ended
November 2020. The company had availed the Reserve Bank of
India-prescribed moratorium over March-August 2020; however, it
repaid the dues before the timeline.

RATING SENSITIVITIES

Positive: A rise in the revenue and profitability backed by an
increase in the order book, leading to an improvement in the credit
metrics and the liquidity profile, all on a sustained basis, will
lead to a positive rating action.

Negative: Inadequacy in maintaining a healthy order book leading to
deterioration in the credit metrics with the interest coverage
falling below 1.5x along with further deterioration in the
liquidity profile, all on a sustained basis, will lead to a
negative rating action.

COMPANY PROFILE

Incorporated in November 2015, Hyderabad-based PUIPL is engaged in
the design, supply, fabrication and commissioning of palm oil
mills. It has also ventured into the trading of palm seedlings.


PROGRESSIVE HOMES: Ind-Ra Keeps B Issuer Rating in Non-Cooperating
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has maintained Progressive
Homes' Long-Term Issuer Rating in the non-cooperating category. The
issuer did not participate in the rating exercise despite
continuous requests and follow-ups by the agency. Therefore,
investors and other users are advised to take appropriate caution
while using these ratings. The rating will continue to appear as
'IND B (ISSUER NOT COOPERATING)' on the agency's website.

The instrument-wise rating action is:

-- INR220 mil. Proposed long-term loans* assigned and maintained
     in non-cooperating category with IND B (ISSUER NOT
     COOPERATING) rating.

*The provisional rating of the proposed bank facilities has been
converted to final rating as per Ind-Ra's updated policy.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
June 19, 2018. Ind-Ra is unable to provide an update, as the agency
does not have adequate information to review the ratings.

COMPANY PROFILE

Incorporated in 2004, Progressive Homes is a partnership firm
engaged in the real estate business. Vinod Trivedi, Devang Trivedi,
Jigar Trivedi, and Progressive Civil Engineers Pvt Ltd are partners
in the firm.


PROGRESSIVE INDUSTRIES: CRISIL Keeps B- Rating in Not Cooperating
-----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Progressive
Industries (PI) continue to be 'CRISIL B-/Stable Issuer Not
Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            4.0       CRISIL B-/Stable (ISSUER NOT
                                    COOPERATING)

   Proposed Long Term     .06       CRISIL B-/Stable (ISSUER NOT
   Bank Loan Facility               COOPERATING)

   Term Loan             3.94       CRISIL B-/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with PI for obtaining
information through letters and emails dated April 18, 2020 and
October 17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

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

Established as a proprietorship concern in fiscal 2010 and
reconstituted as a partnership firm in fiscal 2013 by Mr. Amarjit
Singh, Mr. Navtej Singh, Mr. Gurnam Singh, and Mr. Lakhvir Singh,
PI manufactures metal sheets and LPG cylinders for Indian Oil
Corporation Ltd, Bharat Petroleum Corporation Ltd, and Hindustan
Petroleum Corporation Ltd. The firm has an installed capacity of 60
thousand cylinder per month that vary in sizes ranging from
14.2-47.5 kilogrammes.


RAHIL COLD: CRISIL Reaffirms D Rating on INR14.92cr LT Loan to D
----------------------------------------------------------------
CRISIL has reaffirmed its rating on the long term bank facilities
of Rahil Cold Storage LLP (RCS) at 'CRISIL D'. The rating continues
to reflect delays in repayment of bank debt on account of stretched
liquidity.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           3.25       CRISIL D (Reaffirmed)
   Long Term Loan       14.92       CRISIL D (Reaffirmed)

Key Rating Drivers & Detailed Description

Weakness

* Delay in meeting term debt obligation: Due to stretched liquidity
, the cash accruals remained insufficient to meet debt obligation ,
leading to delays in repayment of bank debt. It's cash credit
facility is almost fully utilised.

Strength

  * Extensive industry experience of the promoters: The promoters'
experience of about a decade in agricultural industry should
support business risk profile.

Liquidity Poor

The liquidity is stretched resulting in delays in debt servicing.
The latest bank limit utilization stood almost full.

Rating Sensitivity factors

Upward factor

  * Track record of timely debt servicing for atleast over 90 days

  * Improvement in working capital cycle

Set up in 2013, RCS is an Ahmedabad based partnership firm engaged
in storage and trading of fruits and vegetables.


RAMEE HOTELS: Ind-Ra Puts BB- LongTerm Issuer Rating on Watch Neg.
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has placed Ramee Hotels Private
Limited's (Ramee) Long-Term Issuer Rating of 'IND BB-' on Rating
Watch Negative (RWN).

The instrument-wise rating actions are:

-- INR100 mil. Fund-based working capital limits placed on RWN
     with IND BB-/RWN rating;

-- INR25 mil. Non-fund-based working capital limits placed on RWN

     with IND A4+/RWN rating; and

-- INR421.82 mil. (reduced from INR448.66 mil.) Long-term loan
     due on April 2026 placed on RWN with IND BB-/RWN rating.

KEY RATING DRIVERS

The RWN reflects Ramee's application to its lender, Bank of Baroda
('IND AAA'/Stable), for the restructuring of its credit facilities.
The bank has confirmed the receipt of a request under the
resolution framework for COVID-19-related stress and related
guidelines announced by the Reserve Bank of India vide its
circulars dated August 6, 2020 and September 7, 2020. Ramee's
request for restructuring is under consideration by the lender.

The company had availed the Reserve Bank of India-prescribed debt
moratorium for March-August 2020 and had made an initial request of
loan deferment on September 7, 2020, prior to the date of the
repayment obligation for September 2020. However, after the bank
received the internal guidelines on restructuring (on October 12,
2020), the formal application for the loan restructuring was
submitted on October 27, 2020, subsequent to the default on payment
obligations for September 2020. Ramee repaid its dues for September
2020 on October 29, 2020. However, the company defaulted on the
monthly term loan installment that was due on October 30, 2020. The
agency will resolve the RWN once the lender arrives at the final
decision on the restructuring proposal.

Liquidity Indicator - Stretched: Ramee's average utilization of the
fund-based limits was around 99% of the sanctioned limits over the
12 months ended September 2020. In FY20 (provisional numbers), the
cash flow from operations turned negative at INR18.9 million (FY19:
INR70.6 million), mainly on account of delays in receipts from
customers. The cash and cash equivalents stood at INR53.9 million
in FY20 (FY19: INR49.4 million). The net cash cycle weakened to a
negative nine days in FY20 (FY19: negative 36 days) due to the
stretched receivable days (FY20: 19; FY19: 12), resulting from the
impact of the COVID-19-led disruptions on the hospitality business
and the cancellations of most bookings due to travel restrictions.
The company had availed the Reserve Bank of India-prescribed debt
moratorium for March-August 2020.

RATING SENSITIVITIES

The RWN indicates that ratings may be downgraded or affirmed.
Ind-Ra will resolve the RWN after the lender take a decision
regarding the restructuring of the credit facilities.

COMPANY PROFILE

Incorporated in June 1998, Ramee is promoted by Vardaraj Manjappa
Shetty. It is engaged in the hospitality business and operates
three hotels in Mumbai and Pune. Its registered office is in Dadar,
Mumbai.


ROSE METALS: CRISIL Keeps B- on INR21cr Loans in Not Cooperating
----------------------------------------------------------------
CRISIL said the ratings on bank facilities of Rose Metals - Mumbai
(RM) continue to be 'CRISIL B-/Stable/CRISIL A4 Issuer not
cooperating'.

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

   Letter of Credit      15         CRISIL B-/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with RM for obtaining
information through letters and emails dated April 18, 2020 and
October 17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of RM, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on RM is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of RM
continues to be 'CRISIL B-/Stable/CRISIL A4 Issuer not
cooperating'.

Established in 1979, RM is promoted by Pavan Mehta. The firm is
engaged into trading of ferrous and nonferrous metals. The product
profile includes round bars, TMT, plates, angels, channels, etc.


SANKAR INDUSTRIES: CRISIL Keeps B- Ratings in Not Cooperating
-------------------------------------------------------------
CRISIL said the ratings on bank facilities of Sankar Industries
(SI) continue to be 'CRISIL B-/Stable Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Drop Line             2.3        CRISIL B-/Stable (ISSUER NOT
   Overdraft                        COOPERATING)
   Facility              
                                    
   Long Term Loan         2.35      CRISIL B-/Stable (ISSUER NOT
                                    COOPERATING)

   Proposed Long Term     5.35      CRISIL B-/Stable (ISSUER NOT
   Bank Loan Facility               COOPERATING)

CRISIL has been consistently following up with SI for obtaining
information through letters and emails dated April 18, 2020 and
October 17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

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

Incorporated in 2010, SI is a Vijayawada (Andhra Pradesh) based
company engaged in manufacturing of machinery required in rice
mills. The company's operations are managed by the partner, Mr.
Rama Krishna.


SARAVANA INDUSTRIES: Ind-Ra Hikes LongTerm Issuer Rating to 'B+'
----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has upgraded Shri Saravana
Industries Private Limited's (SSIPL) Long-Term Issuer Rating to
'IND B+' from 'IND B'. The Outlook is Stable.

The instrument-wise rating actions are:

-- INR45 mil. Fund-based facilities Long-term rating upgraded and

     short-term rating affirmed with IND B+/Stable/IND A4 rating;
     and

-- INR205 mil. (reduced from INR253 mil.) Non-fund-based
     facilities affirmed with IND A4 rating.

KEY RATING DRIVERS

The upgrade reflects a 41.2% yoy improvement in SSIPL's revenue to
INR341 million in FY20, due to an increase in order execution. In
FY19, the company recorded low revenue due to reduced execution
order mainly caused by the Kerala flood during August 2018. SSIPL
has already achieved revenue of INR125 million during 7MFY21.

The company's modest EBITDA margin turned positive to 5.2% in FY20
from negative 4.5% in FY19 due to the better absorption of fixed
cost resulting from the increase in revenue. The return on capital
employed was 2% in FY20 (FY19: negative 6%).

The ratings factors in SSIPL's modest credit metrics with net
leverage (adjusted net debt/operating EBITDA) of 3.9x and interest
coverage (operating EBITDA/interest expenses) of 2.8x in FY20. The
improvement in the credit metrics was mainly due to the absolute
EBITDA turning positive to INR18 million in FY20.

Liquidity Indicator - Poor:  The company completely utilized
fund-based facilities during the 12 months ended October 2020. The
non-fund-based limits were used up to 90% during the same period.
It had a low cash balance of INR7 million in FY20 (FY19: INR4
million). The cash conversion cycle improved to 241 days from 376
days in FY20 due to an improvement in the inventory days to 116
days from 263 days in FY20.

At end-October 2020, SSIPL had an order book of INR1,091 million
(2.88x of FY20 revenue) to be executed in two years. The company
receives significant quantum orders from government and public
entities or as a subcontracting working for a primary contractor,
which leads to high customer concentration risks.

SSIPL has a long track record of two decades in the
hydro-mechanical industry. Itis promoted by S. Kandasamy, K.
Vadivambal and S. Ganesan having a decade-long experience in the
hydro-mechanical industry.

RATING SENSITIVITIES

Positive: An improvement in the liquidity, revenue, and EBITDA
margin leading to an improvement in the credit metrics will be
positive for the ratings.

Negative: Any further stress in the liquidity position or a decline
in the revenue or EBITDA margin leading to deterioration in the
credit metrics will be negative for the ratings.

COMPANY PROFILE

Founded as a proprietorship firm in 1989 by S Kandasamy,
Madurai-based SSIPL was reconstituted as a private limited company
in April 2008. SSIPL undertakes hydromechanical operations, which
involve the design, procurement, fabrication, manufacture,
installation, testing and commissioning of complete
hydro-mechanical equipment, including penstocks, steel liners,
expansion joints, pressure shafts and gates.


SATYA SRINIVASA: CRISIL Keeps B Debt Rating in Not Cooperating
--------------------------------------------------------------
CRISIL said the rating on bank facilities of Satya Srinivasa
Enterprises (SSE) continues to be 'CRISIL B/Stable Issuer Not
Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit             8        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with SSE for obtaining
information through letters and emails dated April 18, 2020 and
October 17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

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

Established in 2002, SSE is engaged in ginning and pressing of raw
cotton and sells cotton lint and trading of cotton. The firm is
promoted by Mr. Srinivas Bhima. The firm operates with installed
capacity of 300 bales per day at Guntur in Andhra Pradesh.


SCHOOLNET INDIA: Ind-Ra Withdraws D Rating on Series C Debentures
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has withdrawn the rating on
Schoolnet India Limited's (SIL) non-convertible debentures (NCDs)
as follows:

-- INR1.030 bil. Series C NCDs INE896F07068 issued on November
     12, 2014 coupon rate 11% due on April 10, 2020 is withdrawn.

The rating history is:

-- 1.030 bil. Series C NCDs Long-term rating watch on October 1,
    2020 is IND D from September 16, 2019 IND D(CE) rating.

KEY RATING DRIVERS

Ind-Ra is no longer required to maintain the ratings as the NCDs
have been paid in full.

COMPANY PROFILE

Started in 1997, SIL has a diversified business model and provides
Ed-Tech solutions in education and training to schools, colleges,
vocational training institutes, state governments and corporates.
Lexington Equity Holdings owns 26.13% in SIL, whereas Falafal
Technology Private Limited owns 73.69%.


SCORE INFORMATION: Ind-Ra Lowers LongTerm Issuer Rating to 'B+'
---------------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded Score
Information Technologies Limited's (SITL) Long-Term Issuer Rating
to 'IND B+' from 'IND BB'. The Outlook is Negative.

The instrument-wise rating actions are:

-- INR55 mil. Fund-based working capital limit downgraded with   
     IND B+/Negative rating; and

-- INR100 mil. Non-fund-based limit downgraded with IND A4
     rating.

The downgrade reflects the incurring of EBITDA loss in 1HFY21 and
the continued weak credit metrics and stretched liquidity position.
The Negative Outlook reflects the likelihood of the liquidity
remaining stretched over the medium term.

KEY RATING DRIVERS

SIL incurred an EBITDA loss of INR3.61 million in 1HFY21 (FY20:
EBITDA profit of INR14.39 million) as the operating expenses
remained high while the revenue declined.  In FY20, the EBITDA
margins had improved to a modest 6.75% (FY19:2.17%), driven by the
execution of a couple of higher-margin projects. The ROCE was 4.1%
in FY20 (FY19: 1.0%). Ind-Ra expects the company's EBITDA to be
lower on yoy basis in FY21, considering the execution of orders
might continue to pose a challenge due to COVID-19-led
disruptions.

The rating action also reflects the continued weak credit metrics.
The interest coverage deteriorated to 1.27x in FY20 (FY19: 5.7x)
due to increased interest cost, resulting from higher utilization
of the working capital limits. However, the net financial leverage
improved to 10.25x in FY20 (FY19: 28.23x), supported by the
increase in the absolute EBITDA to INR14.39 million (INR4.33
million). Ind-Ra expects the metrics to remain weak in FY21 due to
the likely fall in the EBITDA and the high debt levels (FY20:
INR148.27 million; FY19: INR122.68 million).

Liquidity Indicator – Stretched: SITL's average utilization of
the fund-based limits was 77% during the 12 months ended September
2020. The cash flow from operations remained negative but improved
to INR24.92 million in FY20 (FY19: negative INR70.4 million), on
account of increase in the operating profit compared to the
previous year. In FY20, the working capital cycle elongated to 356
days (FY19: 221 days), due to an increase in the inventory days to
214 days (65 days) and debtor days to 215 days (186 days). The
inventory days increased due to procurement of materials required
for the projects in hand. The debtor days remained elongated as
SITL's primary customers are PSUs and the average credit period
provided by the company is 180 days. The creditors days increased
to 73 days in FY20 (FY19: 30 days) due to delayed realizations from
debtors. Ind-Ra expects the liquidity position to remain stretched
in the medium term owing to increased inventory days and elongated
debtor period.  

The ratings reflect the continued small scale of operations. In
FY20, the company's revenue had increased marginally to INR213
million (FY19: INR200.03 million), led by healthy order book
execution. However, SIL's revenue was low at INR87.97 million in
1HFY21, mainly due to the slowdown in order execution owing to the
impact of the COVID-19-led disruptions. The order book was worth
INR205.82 million as of October 2020, providing medium-term revenue
visibility. However, Ind-Ra expects the revenue to decline in FY21
due to the impact of the abovementioned pandemic-related
challenges.  

The ratings are supported by SITL being a part of the Kolkata-based
Kankaria group, which is among the largest jute manufacturers in
India. SITL has received support from the group's non-banking
financial companies in the form of unsecured loans (FY20: INR86.66
million) in the past. The company's bank facilities are guaranteed
by the group's promoter. Ind-Ra expects SITL to continue to receive
support from the group over the long term.

RATING SENSITIVITIES

Negative: The interest coverage remaining below 1.5x and/or absence
of timely support from the group could lead to a negative rating
action.

Positive: Revenue growth along with an improvement in the credit
metrics, on a sustained basis, could lead to the Outlook being
revised to Stable.

COMPANY PROFILE

SITL operates in the information and technology sector and provides
services such as software development and maintenance, CCTV
surveillance system integration, scanning and digitization, smart
card application solutions and telecom infrastructure.


SHREE BISHNU: CRISIL Keeps D on INR8.3cr Loan in Not Cooperating
----------------------------------------------------------------
CRISIL said the rating on bank facilities of Shree Bishnu Feed
Industries (SBFI) continues to be 'CRISIL D Issuer Not
Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           8.35       CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with SBFI for obtaining
information through letters and emails dated April 18, 2020 and
October 17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

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

SBFI was established in 1995 as a proprietorship concern by Mr.
Bharatji Prasad. The firm produces poultry feed, cattle feed, and
hatched chicks. It also trades in maize grain and soya bean
de-oiled cakes. Its manufacturing facility is in Howrah, West
Bengal.


SONTHALIA RICE: CRISIL Keeps B+ Debt Ratings in Not Cooperating
---------------------------------------------------------------
CRISIL said the ratings on bank facilities of Sonthalia Rice Mill
(SRM) continue to be 'CRISIL B+/Stable/CRISIL A4 Issuer not
cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Bank Guarantee         2         CRISIL A4 (ISSUER NOT
                                    COOPERATING)

   Cash Credit            3         CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

   Proposed Long Term     0.25      CRISIL B+/Stable (ISSUER NOT
   Bank Loan Facility               COOPERATING)

   Term Loan              8.40      CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with SRM for obtaining
information through letters and emails dated April 18, 2020 and
October 17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of SRM, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SRM is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of SRM
continues to be 'CRISIL B+/Stable/CRISIL A4 Issuer not
cooperating'.

SRM was set up in 2001 as a partnership firm by Mr. Santosh Agarwal
and his son Mr. Saurav Agarwal. The firm processes paddy into rice
at its facility based in Khurda, Odisha, which has an installed
capacity of 100 tonne per day (tpd). It is currently expanding its
capacity to 200 tpd and setting-up a cogeneration plant.


SRM POWER: CRISIL Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------
CRISIL said the ratings on bank facilities of SRM Power Private
Limited (SPPL) continue to be 'CRISIL D Issuer Not Cooperating'.

                        Amount
   Facilities         (INR Crore)    Ratings
   ----------         -----------    -------
   Proposed Long Term      .44       CRISIL D (ISSUER NOT
   Bank Loan Facility                COOPERATING)

   Term Loan             21.06       CRISIL D (ISSUER NOT
                                     COOPERATING)

CRISIL has been consistently following up with SPPL for obtaining
information through letters and emails dated April 18, 2020 and
October 17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

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

SPPL, incorporated in 2004, is part of the Gilada group, promoted
by Mr. Rajgopal Gilada. The company operates a 6 MW (2 x 3 MW)
hydropower project in Chikmagalur, Karnataka.


SUBHKARAN AND SONS: CRISIL Has D on INR50cr Debt in NonCooperating
------------------------------------------------------------------
CRISIL said the rating on bank facilities of Subhkaran and Sons
(SAS) continues to be 'CRISIL D Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Letter of Credit      50         CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with SAS for obtaining
information through letters and emails dated May 23, 2020 and
October 17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

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

Incorporated in 1981 by Mr. Vinod Jatia and Mr. Prateek Jatia, SAS
trades in iron and steel products such as hot- and cold-rolled
coils, sheets, and plates, sponge iron lumps, and fines.


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

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            3         CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

   Letter Of Guarantee    1         CRISIL A4 (ISSUER NOT
                                    COOPERATING)

   Term Loan              4.78      CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with SC for obtaining
information through letters and emails dated April 18, 2020 and
October 17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of SC, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SC is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of SC
continues to be 'CRISIL B+/Stable/CRISIL A4 Issuer not
cooperating'.

Established in 2013 as a partnership firm, SC manufactures
digitally printed wall tiles of various sizes, which are sold under
the brand, Sunmark. Commercial production commenced from June 2014
and the manufacturing facility in Morbi has installed capacity of
5,000 boxes per day.


SUYASH MOTORS: CRISIL Keeps B+ Debt Ratings in Not Cooperating
--------------------------------------------------------------
CRISIL said the ratings on bank facilities of Suyash Motors (Unit
of Patton Logistic Services Private Limited) (SM) continue to be
'CRISIL B+/Stable Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           2.5        CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

   Electronic Dealer     7.0        CRISIL B+/Stable (ISSUER NOT
   Financing Scheme                 COOPERATING)
   (e-DFS)               
                                    
   Term Loan             1.45       CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with SM for obtaining
information through letters and emails dated April 18, 2020 and
October 17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

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

SM is a unit of PLSL, which was set up in 2005; SM began operating
under PLSL in 2012. SM is an authorised dealer of TML's passenger
vehicles and operates through a showroom and workshop in Varanasi
and two sub outlets in Chandauli and Babatpur (all in Uttar
Pradesh). The operations are managed by Mr. Sachin Talwar.


T V SUBBAIAH: CRISIL Keeps B Debt Rating in Not Cooperating
-----------------------------------------------------------
CRISIL said the ratings on bank facilities of T V Subbaiah (TV)
continue to be 'CRISIL B/Stable/CRISIL A4 Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Bank Guarantee        5.8        CRISIL A4 (ISSUER NOT
                                    COOPERATING)

   Cash Credit           7.5        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with TV for obtaining
information through letters and emails dated April 18, 2020 and
October 17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of TV, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on TV is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of TV
continues to be 'CRISIL B/Stable/CRISIL A4 Issuer not
cooperating'.

Set up in 2007 in Hubli, Karnataka, as a proprietorship firm by Mr.
Venkata Subbaiah, TV erects electricity transmission lines and
installs substations in Karnataka.


UNIJULES LIFE: CRISIL Keeps D Debt Ratings in Not Cooperating
-------------------------------------------------------------
CRISIL said the ratings on bank facilities of Unijules Life
Sciences Limited (Unijules) continue to be 'CRISIL D/CRISIL D
Issuer not cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Bank Guarantee         6.5       CRISIL D (ISSUER NOT
                                    COOPERATING)

   Cash Credit          124.5       CRISIL D (ISSUER NOT
                                    COOPERATING)

   Letter of Credit       5.75      CRISIL D (ISSUER NOT
                                    COOPERATING)

   Letter of credit      12.75      CRISIL D (ISSUER NOT
   & Bank Guarantee                 COOPERATING)

   Term Loan             61.50      CRISIL D (ISSUER NOT
                                    COOPERATING)

CRISIL has been consistently following up with Unijules for
obtaining information through letters and emails dated May 30, 2020
and October 31, 2020 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

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

Unijules was established in 2006, when the business of H Jules &
Company Ltd was transferred to it and when Unijules had also
acquired all the assets of Universal Medicaments Pvt Ltd. Unijules,
promoted by Mr. Faiz Vali, manufactures and markets herbal and
allopathic drugs.


YUG WEAVE: Insolvency Resolution Process Case Summary
-----------------------------------------------------
Debtor: YUG Weave Tech Private Limited
        Registered office:
        405, Dharti Complex
        Varachha Road
        Surat GJ 395006
        IN

Insolvency Commencement Date: October 23, 2020

Court: National Company Law Tribunal, Surat Bench

Estimated date of closure of
insolvency resolution process: April 22, 2021

Insolvency professional: CA Kailash Thanmal Shah

Interim Resolution
Professional:            CA Kailash Thanmal Shah
                         505, 21st Century Business Centre
                         Near World Trade Centre
                         Ring Road
                         Surat 395002
                         Mobile: 9824150365
                         E-mail: ipktshah@gmail.com
                                 cirp.yugweavetech@gmail.com

Last date for
submission of claims:    November 10, 2020




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

AGUNG PODOMORO: Fitch Upgrades LT Issuer Default Rating to CCC
--------------------------------------------------------------
Fitch has upgraded PT Agung Podomoro Land Tbk's (APLN) Long-Term
Issuer Default Rating (IDR) to 'CCC', from 'CCC-'. The company's
USD300 million notes due 2024, issued by its wholly owned
subsidiary, APL Realty Holdings Pte. Ltd. and guaranteed by APLN,
have also been upgraded to 'CCC', from 'CCC-', with a Recovery
Rating of 'RR4'.

The upgrade follows the completed refinancing of APLN's IDR1.8
trillion loan from private equity fund, SSG Capital Management,
which formed the bulk of APLN's maturities in 2021. APLN's new loan
will mature in a bullet repayment in 24 months, and is secured by
the company Central Park Mall property. The refinancing has
significantly alleviated APLN's refinancing risk, but the company's
rating remains constrained by a weak liquidity profile and the
balance of unaddressed maturities in 2021.

KEY RATING DRIVERS

Unaddressed Maturities in 2021: Fitch believes that APLN's internal
cash flow is insufficient to address its 2021 maturities,
comprising of IDR350 billion medium-term notes due in August and
amortising loans of totalling IDR400 billion across subsidiaries.
Fitch expects APLN's operating cash flow to turn negative in 2021
in the absence of asset sales, made worse by the company's
inherently high working capital requirements, which may also limit
its financial flexibility.

APLN intends to utilise undrawn committed lines from PT Bank
Maybank Indonesia Tbk (BBB/Stable) to refinance its medium-term
notes, but there is a risk that it may not be able to tap these
lines, as the transaction is still in discussion. APLN's amortising
term loans are also largely unaddressed, as Fitch expects cash flow
generation will stay weak at the project level. APLN's projects are
aimed at the mid-to-upper segment, for which Fitch forecasts soft
demand in 2021.

Asset Sale Pending: APLN's plan to sell an investment property has
been delayed, as the buyer was unable to secure financing. However,
the company says the buyer remains keen and is working on
alternative options to complete the transaction in 2021. Fitch has
not factored in the cash proceeds in its forecast, as the
transaction has not been completed.

Adequate Liquidity at Holding Company: APLN had cash of IDR388
billion at the holding company at end-September 2020 from bulk
industrial-land sales. This was sufficient to address a IDR171
billion (USD12 million) coupon and hedging costs on its US-dollar
notes due in December and the next coupon payment in June 2021,
assuming that it generates monthly net cash flow of IDR25 billion
from Central Park Mall, against IDR13 billion in operating expenses
and IDR12 billion in interest on mall-related loans. However, APLN
would need to upstream dividends or execute a one-off asset sale to
address the December 2021 coupon payment, which depends on improved
market conditions.

Weak Underlying Cash Flow: APLN's two large mixed-use projects in
Medan and Balikpapan require higher working capital than its
land-based projects; the two projects' aggregate construction costs
exceeded presale rates at end-September. The projects target the
mid-to-upper segment, where demand has weakened, and buyers tend to
delay purchases until completion. APLN has shifted its focus to
land-based projects to ease its cash flow burden, but this is
insufficient to compensate for outflows from other projects, given
its small residential township and muted demand.

Fitch estimates that APLN will generate positive cash flow from
operation in 2020 of around IDR800 billion net of minority shares,
driven by proceeds from bulk industrial-land sales in September of
around IDR430 billion on an attributable basis. Lower constructions
outflows and an around 20% cut in employee salaries also helped
APLN to temporarily conserve cash. However, Fitch expects cash flow
to turn negative in 2021 in the absence of further bulk sales and
increasing construction pace in its mixed-use projects.

Attributable Presales, Proportionate Consolidation: Fitch
proportionately consolidates the key financials of a number of
APLN's subsidiaries to assess APLN's financial profile so that only
the company's share of presales and cash flow is reflected in its
rating-case forecast. Attributable presales, excluding bulk land
sales, represented around 70% of consolidated presales in 9M20
(2019: 70%).

Weak Links with Parent: Fitch assesses APLN as a stronger entity
than its 80% parent, PT Indofica, a closely held business of the
Trihatma Kusuma Haliman family. APLN is Indofica's largest
investment, but Fitch believes overall linkages between the
companies are weak, as protection in bond documents and local
regulatory oversight of related-party transactions limits
Indofica's access to APLN's cash and assets. Fitch therefore rates
APLN at the standalone level.

ESG - Management Strategy and Governance Structure: APLN has an ESG
Relevance Score of 4 for Management Strategy and Governance
Structure due to multiple restructurings, revealing that the
company's ability to implement its strategy has been hindered by
the constrained financial flexibility and impending risk of default
of key stakeholders, which has a negative impact on the credit
profile and is relevant to the rating in conjunction with other
factors.

DERIVATION SUMMARY

APLN's rating is comparable with that of PT Alam Sutera Realty Tbk
(ASRI, CCC+), PT Lippo Karawaci TBK (B-/Negative) and PT Kawasan
Industri Jababeka Tbk (KIJA, B-/Stable).

APLN is rated lower than ASRI owing to unaddressed debt maturities
in 2021, versus ASRI's more manageable maturities, with its next
significant debt not due until 2022, and stronger financial
profile. ASRI's low cost and large landbank inventory also provides
higher margin buffers, while its land-based development model
allows greater cash flow flexibility to time construction with
sales, relative to APLN. APLN's mixed-use development model
necessitates higher working capital, reflected in APLN's high
leverage and negative cash flow from operation, versus ASRI's low
leverage and neutral to positive cash flow.

Lippo is rated two-notches higher than APLN given its stronger
liquidity profile, with its earliest significant debt maturing in
2025, and sufficient cash on hand to meet interest and operating
costs over the next 18 months. Fitch expects Lippo to post stronger
presales compared with APLN, given its renewed focus on affordable
landed housing, for which demand remains healthy despite the
current downturn. The Negative Outlook on Lippo's IDR reflects the
risk that it may face challenges in disposing of assets to boost
liquidity beyond the next 18 months.

KIJA is rated higher than APLN because of its stronger financial
and business risk profile, supported by a large and low-cost
landbank and land-based development model, which has allowed the
company to generate neutral to positive operating cash flow. KIJA
also has stronger non-development cash flow from its power plant
and dryport, which substantially covers its interest costs, as well
as stronger liquidity than APLN, with the bulk of its debt not
maturing until 2023.

KEY ASSUMPTIONS

  - Attributable presales of IDR1.0 trillion in 2020 and 1.1
trillion in 2021

  - Positive cash flow from operation (net of minority shares) of
IDR800 billion in 2020 and negative cash flow of IDR170 billion in
2021

  - No bulk or one-off sales in 2021

RATING SENSITIVITIES

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

Ensuring pre-funded debt maturities in the next 12 months

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

Inability to refinance maturing debt

LIQUIDITY AND DEBT STRUCTURE

Refinancing Risks: APLN's multiple debt restructurings in the past
two years limit its access to the debt and capital market, as does
its weak liquidity and financial profile. It remains exposed to
unaddressed maturities in 2021 of IDR760 billion even after its
refinancing. The company had a consolidated cash balance of around
IDR1 trillion and IDR800 billion in committed undrawn facilities at
end-September 2020. However, committed facilities may not be
available to repay debt, as committed lines are usually reserved
for construction, and cash may not be completely fungible given the
presence of minority shares at the projects level.

REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF
RATING

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

ESG CONSIDERATIONS

PT Agung Podomoro Land Tbk: Management Strategy: 4, Governance
Structure: 4

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




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

JAPAN: Should Weigh Safety Net For Pandemic-Hit Firms
-----------------------------------------------------
Reuters reports that Japan should consider creating a safety net
for companies that may need help surviving the hit from the
coronavirus pandemic, such as airlines and transportation firms,
said Heizo Takenaka, a close aide to premier Yoshihide Suga.

Reuters relates that the Bank of Japan (BOJ) also may need to
support financial institutions if they suffer huge losses from big
bailouts, said Mr. Takenaka, who as economic minister battled
Japan's domestic banking crisis in the late 1990s.

But he was cautious about the idea, floated by some analysts, that
the BOJ should directly inject capital into such ailing firms,
arguing the central bank is already taking on private risk by
buying massive amounts of exchange-traded funds (ETF), Reuters
relays.

"The reason why we haven't seen a sharp rise in corporate
bankruptcies and job losses is because measures taken by the BOJ
and the government have proved effective in mitigating the
immediate damage," Mr. Takenaka told Reuters on Dec. 2.

"But we can't continue these measures forever," Mr. Takenaka said.
"There needs to be discussion on creating a framework similar to
the Industrial Revitalization Corporation of Japan."
  
The Industrial Revitalisation Corporation of Japan was a
semi-government investment fund that invested in troubled companies
between 2003 and 2007. Mr. Takenaka served as economy minister at
the time when the fund was established, Reuters notes.

Reuters relates that Mr. Takenaka, a member of a panel overseeing
the government's growth strategy, said Japan must create rules so
that decisions on which companies to rescue are not political or
arbitrary.

"It is hard to draw a line on which companies are defined as
infrastructure companies," he said, on calls from some lawmakers
for the government to rescue firms involved in infrastructure that
is key to society.

"Major transportation companies could be defined as such. But it's
hard to draw such a line for manufacturers."

Airlines have been among industries hit hardest by the coronavirus
pandemic, according to Reuters. Some lawmakers have floated the
idea of merging Japan's two biggest airlines - ANA Holdings and
Japan Airlines Co Ltd (JAL), the report states.

Reuters adds that Mr. Takaneka said intensifying global competition
has already forced many airlines to consolidate but that merging
Japan's two major airlines was not a simple matter since
competition was necessary for domestic routes.

"For example, it will be desirable for JAL to cover domestic
flights and international flights to neighboring areas such as to
Seoul and Taipei, while ANA to cover long-distance international
flights."

Mr. Takenaka also serves as a chairman of staffing agency Pasona
Group Inc, which is a founding member of a private non-profit
called Service Design whose role in a troubled roll-out of
coronavirus subsidies came under scrutiny in the summer, Reuters
adds.




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

PRESS METAL: S&P Discontinues 'B+' ICR Following Bond Redemption
----------------------------------------------------------------
S&P Global Ratings has discontinued its issuer credit rating on
Press Metal Aluminium Holdings Bhd. (PMB; B+/Negative/--) as well
as its 'B+' rating on the debt issued by PMB's subsidiary Press
Metal (Labuan) Ltd. The discontinuation follows PMB's redemption of
all remaining outstanding senior unsecured bonds (due 2022) upon
PMB exercising a call option at the issuer's discretion.

At the time of the discontinuance, S&P viewed PMB's earnings
pressure to have subsided, given that aluminum prices have since
rallied to above US$1,900 per metric ton (/mt) during the last
quarter of 2020. Moreover, PMB's solid cash generation has enabled
the company to internally fund the bulk of the capital expenditure
(capex) for its Bintulu Phase 3 expansion. In the nine months ended
Sept. 30, 2020, PMB reported EBITDA of Malaysian ringgit (MYR) 870
million and generated MYR1.1 billion of operating cash flow.

As PMB prepares to ramp up its production for Bintulu Phase 3, we
believe the company is likely to depend on short-term facilities to
fund any working capital requirements, which may fluctuate
depending on raw materials and aluminum pricing.

S&P said, "We expect Bintulu Phase 3's additional production to
boost PMB's EBITDA by more than MYR300 million in 2021. About
320,000 metric tons per annum (mtpa) of smelting capacity from
Bintulu Phase 3 will come online in January 2021. Assuming a 65%
utilization rate, we envisage this to generate about EBITDA per ton
of US$90/mt.

"The outlook was negative at the time of the discontinuance,
reflecting our view that weaker market conditions could delay PMB's
deleveraging. It also reflects our view of potentially rising
funding stress amid the expansion of PMB's smelting capacity."




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

FLOATEL INT'L: Enters Lockup Deal for Restructuring with FELS
-------------------------------------------------------------
Sharanya Pillai at The Business Times reports that FELS Offshore, a
wholly-owned unit of Keppel Corp, has entered a lock-up agreement
for a proposed restructuring of offshore vessel player Floatel, the
mainboard-listed company said in a bourse filing on Dec. 5.

Floatel is 49.92 per cent-owned by FELS Offshore, the report
discloses. According to BT, the lock-up agreement includes an ad
hoc group (AHG) of holders of US$400 million worth of Floatel's 9
per cent senior secured first lien (1L) bonds, as well as other
consenting 1L bondholders who control over 56 per cent by value of
the bonds.

BT says the lock-up agreement will commit Floatel, Keppel, the AHG
and any acceding 1L bondholders or holders of the US$75 million
worth of Floatel's 12.75 per cent second-lien (2L) bonds to attempt
a financial and corporate restructuring of Floatel.

According to the report, the restructuring is expected to involve a
new entity acquiring certain subsidiaries of Floatel that own and
operate vessels. This could be carried out through the 1L
bondholders enforcing their security over the shares in the bond
vessel units.

Other Floatel entities, over which security has been granted to the
bank lenders of the firm's US$150 million term loan facility, would
remain as subsidiaries of Floatel, unless otherwise directed by the
bank lenders, the report notes.

Debt obligations in the amount of the 1L bonds will be assumed by
new company, as well as a portion of debt from the bank vessel
facility, BT says. The remaining portion of the bank facility, as
well as the 2L bonds and a US$244 million subordinated loan from
Keppel will remain as liabilities of Floatel.

Through the transactions, the 1L bondholders would receive a cash
payment of US$30 million from the new company, which is 7.5 per
cent of the current outstanding principal of the 1L bonds, BT
notes.

BT says Keppel would eventually hold about 49.92 per cent of the
equity interests in the new company. Floatel is expected to file
for provisional liquidation in Bermuda after the acquisitions by
the new company, BT states.

In its filing, Keppel said that it has entered the lock-up
agreement "to facilitate and support the proposed restructuring",
but also noted that there is no certainty or assurance that the
transaction will proceed as laid out, BT relays.

It added: "Accordingly, it is premature to speculate on the
financial impact of the transaction on the company's investments in
Floatel."

But based on an analysis of the present factors, the entry into the
lock-up agreement is not expected to result in any further
impairment to Keppel's carrying value of Floatel, being S$165.4
million as at end-June, adds BT.

Floatel International Ltd. owns and operates a fleet of oil
production platform vessels. The Company charters mobile oil
platform drilling vessels for the production of crude oil. Floatel
International offers their vessels to oil production companies
internationally.


OCEAN TANKERS: Creditors' Proof of Claim Due Dec. 18
----------------------------------------------------
Manifold Times reports that creditors of Ocean Tankers (Pte)
Limited have until Dec. 18, 2020, to file their proof of any debts
or claims for publication.

A notice in the Government Gazette published on Dec. 4 by the
company's Judicial Managers reminds creditors that any proof of
debt filed shall be regarded as a proof of debt to be used in any
Statement of Proposals Meeting held by the company's Judicial
Managers with the company's creditors, Manifold Times relates.

Manifold Times says the proof of debt may also be used for the
purposes of any meeting of Ocean Tankers' creditors if and when
such a meeting is convened in the course of the company's judicial
management.

According to Manifold Times, the published announcement notes that
subject to adjudication of creditor's proof of debt, creditors must
file their proof of debt with Ocean Tankers' Judicial Managers not
later than 5:00 p.m. on Dec. 18, 2020 or such later date as may be
notified, so as to entitle creditors to vote at the Statement of
Proposals Meeting.

A physical copy of the proof of debt form and the relevant
supporting documents must be submitted to the Ocean Tankers'
address at 37 Tuas Road, Singapore 638503, Manifold Times adds.

The joint and several Judicial Managers may be reached at:

          Ee Meng Yen Angela
          Purandar Janampalli Rao
          Ernst & Young LLP
          One Raffles Quay
          North Tower Level 18
          Singapore 048583
          E-mail: oceantankerpod@sg.ey.com

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

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

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

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

On April 27, the Company was granted interim judicial management by
the the Singapore High Court.  Goh Thien Phong and Chan Kheng Tek
of PricewaterhouseCoopers Advisory Services (PwC) have been
appointed as interim judicial managers.




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

[*] BOND PRICING: For the Week Nov. 30, 2020 to Dec. 4, 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.



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