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

                     A S I A   P A C I F I C

          Tuesday, June 29, 2021, Vol. 24, No. 123

                           Headlines



A U S T R A L I A

BBY LIMITED: ASIC Cancels AFS Licence
GOLD ROAD: Second Creditors' Meeting Set for July 5
INVEST ONE: Second Creditors' Meeting Set for July 6
NORTH AUSTRALIAN: Second Creditors' Meeting Set for July 2
NSW ELECTRICITY: Moody's Rates New Hybrid Notes 'Ba1'

REMEDY HOUSING: ASIC Moves to Shut Down Mortgage Lender
SOUTHERN AUSTRALIA: Second Creditors' Meeting Set for July 2
STEELCON GROUP: Second Creditors' Meeting Set for July 7
TRINCO (NSW): Second Creditors' Meeting Set for July 2
ULTIMATE YOU: Second Creditors' Meeting Set for July 1

VENTIA SERVICES: Moody's Assigns Ba2 CFR on Strong Liquidity


C H I N A

CHINA HUARONG: Citic Group to Examine Huarong's Finances
LOGAN GROUP: Fitch Assigns BB Rating to Proposed USD Sr. Notes


I N D I A

A H MALLICK: CARE Keeps D Debt Ratings in Not Cooperating
ACARA BIOHERB: CARE Keeps D Debt Rating in Not Cooperating
AVANTA ENGINEERINGS: CARE Lowers Rating on INR9cr LT Loan to B
BILTECH BUILDING: CARE Keeps D Debt Rating in Not Cooperating
BLUEPARK SEAFOODS: CARE Keeps D Debt Rating in Not Cooperating

CHAITANYA HI-TECH: CARE Lowers Rating on INR8.20cr LT Loan to B+
CHANDNA INFRAPROJECTS: CARE Keeps D Debt Ratings in Not Cooperating
CHOUHAN AUTOMOBILES: CARE Keeps C Debt Rating in Not Cooperating
DR. M N TANDON: CARE Lowers Rating on INR4.26cr LT Loan to C
G.R MULTIFLEX: CARE Keeps D Debt Rating in Not Cooperating

H.S. INDIA: Ind-Ra Lowers Long-Term Issuer Rating to 'B-'
HERITAGE FINLEASE: Ind-Ra Assigns 'BB+' Bank Loan Rating
HI-TEC ROCKFIBRE: CARE Keeps D Debt Rating in Not Cooperating
IDBI BANK: Moody's Affirms Ba2 Long Term Deposit Ratings
INDIA CARTONS: CARE Lowers Rating on INR10cr LT Loan to D

INDIA: US$27BB Pile of Debt Looms Over Country's New Bad Bank
KAMAKHYA TRADERS: CARE Keeps B- Debt Rating in Not Cooperating
KASHIBAI SOLAR: CARE Lowers Rating on INR7cr LT Loan to B
LEO ENTERPRISES: Ind-Ra Assigns 'B+' Issuer Rating, Outlook Stable
LIBERTY OIL: Ind-Ra Lowers Long-Term Issuer Rating to 'D'

LOKESH INFRAPROJECT: CARE Keeps B- Debt Rating in Not Cooperating
M G KITCHENWARE: CARE Lowers Rating on INR7.00cr LT Loan to B-
MALLELLA STONE: CARE Lowers Rating on INR5.00cr LT Loan to B-
MDH TRUCKS: CARE Keeps C Debt Ratings in Not Cooperating Category
ORANGE CITY WATER: CARE Keeps D Debt Ratings in Not Cooperating

PLASMA METAL: CARE Keeps D Debt Rating in Not Cooperating
POGGENAMP NAGARSHETH: Ind-Ra Affirms 'D' Long-Term Issuer Rating
R.S. DREAM: CARE Lowers Rating on INR12.00cr LT Loan to D
RAGHAVA PROJECT: CARE Lowers Rating on INR3.25cr LT Loan to D
RAJASTHAN HYBRIDS: CARE Lowers Rating on INR5.00cr LT Loan to B+

RAJIV PETROCHEMICALS: Ind-Ra Affirms 'BB' Long-Term Issuer Rating
RASHI DALL: CARE Keeps C Debt Rating in Not Cooperating Category
RELISHAH EXPORT: Ind-Ra Affirms 'BB' Issuer Rating, Outlook Stable
RSKS AUTOMOTIVES: Ind-Ra Assigns B+ Issuer Rating, Outlook Stable
SHAH AGRI: CARE Keeps B+ Debt Rating in Not Cooperating Category

SMART VISIONS: CARE Keeps B- Debt Rating in Not Cooperating
SVARRNIM INFRASTRUCTURES: Ind-Ra Moves B+ Rating to Non-Cooperating
TIRUMALA AGRO: CARE Keeps B- Debt Rating in Not Cooperating
TRIBHUVAN ISPAT: Ind-Ra Moves B+ Issuer Rating to Non-Cooperating
VALLABH PITTIE: CARE Cuts Rating on INR331.79cr LT Loan to D

VARDHMAN ROLLER: CARE Keeps B- Debt Rating in Not Cooperating
YOGESH CHOUDHARY: CARE Keeps C Debt Rating in Not Cooperating
YORK PRINT: Ind-Ra Affirms BB+ LT Issuer Rating, Outlook Positive


J A P A N

JAPAN: Mulls Easing Out-Of-Court Debt Settlement Requirements
SOFTBANK GROUP: S&P Assigns 'BB+' Rating to New Senior Unsec. Notes
TOSHIBA CORP: Board of Directors Issues Statement
TOSHIBA CORP: Shareholders Oust Chairman in Rare Investor Victory


S I N G A P O R E

AIQ PTE: Creditors' Meetings Set for July 8
CG PURCHASING: Creditors' Proofs of Debt Due July 28
CONTINENTAL PLATFORM: Court Enters Wind-Up Order


S O U T H   K O R E A

SSANGYONG MOTOR: Major Stake Officially Put Up For Sale


X X X X X X X X

[*] BOND PRICING: For the Week June 21, 2021 to June 25, 2021

                           - - - - -


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

BBY LIMITED: ASIC Cancels AFS Licence
-------------------------------------
The Australian Securities and Investments Commission (ASIC) has
cancelled the Australian financial services (AFS) licence held by
BBY Limited (BBY), effective June 24, 2021.

The terms of the cancellation allow the BBY AFS licence to continue
in effect until March 31, 2022 for the following purposes only:

     * to ensure that clients of BBY continue to have access to an
external dispute resolution scheme;

     * to ensure that clients of BBY continue to have access to the
National Guarantee Fund;

     * to ensure that the receivers and liquidators have the legal
authority to transfer a client's "holder identification number" to
another market participant with instructions from the client or to
convert a licensee sponsored holding to an issuer sponsored holding
in accordance with the ASX Settlement Operating Rules; and

     * to ensure BBY continues to be required to have arrangements
for compensating retail clients for loss or damages suffered as a
result of breaches of the Corporations Act by the companies or
their representatives.

On May 28, 2015, ASIC suspended the AFS licence held by BBY for a
period of three years.

This followed the appointment of Stephen Vaughan and Ian Hall as
joint administrators to BBY on May 17, 2015. Steven Parbery and
Brett Lord were appointed receivers and managers of BBY on May 18,
2015.  ASIC notes that from October 29, 2019, Rahul Goyal and Scott
Langdon of KordaMentha are the appointed receivers and managers of
BBY.

On May 27, 2018, ASIC decided to extend the suspension for a
further 12 months until May 28, 2019.

On May 27, 2019, ASIC decided to extend the suspension until May
31, 2020.

On May 27, 2020, ASIC decided to extend the suspension until June
30, 2021.

Under the Corporations Act, ASIC has the power to suspend or cancel
an AFS licence, without holding a hearing, where the AFS licence is
held by a body corporate which is placed under external
administration.

BBY has a right to seek a review of ASIC's decision at the
Administrative Appeals Tribunal.


GOLD ROAD: Second Creditors' Meeting Set for July 5
---------------------------------------------------
A second meeting of creditors in the proceedings of Gold Road No 2
Pty Ltd ATF Gold Road Unit Trust No 2 has been set for July 5,
2021, at 2:30 p.m. virtual meeting technology.

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

Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by July 2, 2021, at 4:00 p.m.

Richard Rohrt of Hamilton Murphy was appointed as administrator of
Gold Road on May 28, 2021.


INVEST ONE: Second Creditors' Meeting Set for July 6
----------------------------------------------------
A second meeting of creditors in the proceedings of Invest One Pty
Ltd has been set for July 6, 2021, at 11:00 a.m. at the offices of
SV Partners, 22 Market Street, in Brisbane, Queensland.

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

Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by July 5, 2021, at 4:00 p.m.

David Michael Stimpson of SV Partners was appointed as
administrator of Invest One on June 24, 2021.

NORTH AUSTRALIAN: Second Creditors' Meeting Set for July 2
----------------------------------------------------------
A second meeting of creditors in the proceedings of North
Australian Cattle Company Pty. Ltd. has been set for July 2, 2021,
at 11:00 a.m. via virtual meeting technology.

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

Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by July 1, 2021, at 4:00 p.m.

(Melissa) Poh Bee Lau and Jimmy Trpcevski of Jirsch Sutherland were
appointed as administrators of North Australian on May 31, 2021.


NSW ELECTRICITY: Moody's Rates New Hybrid Notes 'Ba1'
-----------------------------------------------------
Moody's Investors Service has assigned a Ba1 rating to the proposed
backed subordinated ("hybrid") notes with face value of AUD295
million to be issued by NSW Electricity Networks Assets Pty Limited
(NSWEN Assets).

The rating outlook is stable.

NSWEN Assets is a member of, and its obligations are guaranteed by,
the NSW Electricity Networks Finance Pty Limited's (NSWENF) obligor
group, whose principal asset is a 99-year leasehold interest over
the high voltage electricity transmission network (TransGrid) in
the state of New South Wales (NSW) and the Australian Capital
Territory (ACT).

RATINGS RATIONALE

The Ba1 rating on the hybrid notes is two notches below NSWENF's
Baa2 senior secured ratings as well as the (P)Baa2 backed senior
secured Australian Medium Term Note (AMTN) program rating,
reflecting the hybrid notes' deep legal subordination to the senior
secured obligations of the obligor group and their ranking in line
with notional preference shares in the event of winding-up.

The hybrid notes will have a 60-year maturity and events of default
are limited to non-payment (excluding deferral), liquidation, and
winding-up or insolvency. NSWEN Assets may opt to defer coupon
payments on a cumulative basis. The notes do not contain any
step-ups in the first 10 years and no more than 100 basis points in
total.

The hybrid notes qualify for "basket C" with 50% equity treatment
of the borrowed amount for the calculation of the credit ratios by
Moody's.

The proceeds will be used to partially fund TransGrid's investment
in Project EnergyConnect.

The rating incorporates Australia's mature and transparent
regulatory framework governing TransGrid's electricity transmission
network, which generates highly predictable cash flows. The rating
is further supported by the network's essential nature, strong
market position, and established operating track record.

The ratings also factor in likely lower regulatory returns from
TransGrid's next regulatory reset in 2023, reflecting lower
interest rates that are a key component of the regulatory weighted
average cost of capital.

Moody's consequently expects the obligor group's financial
leverage, as measured by the ratio of funds from operations (FFO)
to gross adjusted debt may weaken to the high 6% region over the
next 12 to 18 months, which is below its Baa2 lower tolerance band
of 7%. That said, Moody's expects such metrics to recover to above
this level as the company progresses its capital expenditure
program and cash flows increase due to tariff indexation.

The rating also incorporates Moody's expectation that TransGrid's
management and shareholders will continue to maintain a stable
capital structure consistent with Baa2 rating parameters.

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

The stable outlook reflects (1) the predicable nature of
TransGrid's revenues; (2) its track record of executing on
operational, financial and project delivery targets, and (3)
Moody's expectation that TransGrid's owners will implement
countermeasures to support NSWENF's credit profile under downside
scenarios.

Given the group's leverage and large investment program, a rating
upgrade is unlikely in the absence of deleveraging. Nevertheless,
the rating could be upgraded if the group's funds from operations
(FFO)/net debt rises above 9%, net debt/regulated asset base (RAB)
stays below 85% and FFO interest coverage rises above 2.4x on a
sustained basis.

The rating could be downgraded if Moody's believes that
TransGrid's: 1) regulatory framework changes such that it
materially weakens the company's credit profile; 2) financial
policy commitment to a Baa2 rating, and its shareholder's support
for such a rating, reduce; 3) financial metrics materially
deteriorate on a sustained basis, with FFO/net debt below 7%, net
debt/RAB above 90%, and FFO/ interest below 1.9x.

The principal methodology used in this rating was Regulated
Electric and Gas Networks published in March 2017.

NSW Electricity Networks Assets Pty Limited (NSWEN Assets) and NSW
Electricity Networks Finance Pty Limited (NSWENF) form part of the
obligor group for NSW Electricity Networks (NSWEN). The group's
principal asset is a 99-year leasehold interest over the high
voltage electricity transmission network (TransGrid) that
transports electricity from generators to low-voltage distribution
networks and direct-connect customers in the state of NSW and the
ACT.

NSWEN Assets' (and TransGrid's) equity is ultimately held by a
consortium comprising Caisse de depot et placement du Quebec
(22.505%), UTA Power Networks Trust (22.505%), Tawreed Investments
Ltd (19.99%), Ontario Municipal Employees Retirement System
(19.99%) and Spark Infrastructure Trust (15.01%, Baa2 stable).

REMEDY HOUSING: ASIC Moves to Shut Down Mortgage Lender
-------------------------------------------------------
The Australian Securities and Investments Commission (ASIC) has
moved to shut down an unlicensed mortgage lender that appears to
have been engaging with customers primarily from the Pacific
Islander community in Australia and New Zealand.

ASIC successfully obtained interim orders and injunctions from the
Federal Court against Brent Lindsay Smith, Mahmoud Khodr and Trevor
Leota and Remedy Housing Pty Ltd.

Remedy Housing is operated by Mr. Smith and Mr. Khodr as director
and secretary respectively, with Mr. Leota also involved in the
business. ASIC has alleged that the Defendants and Remedy Housing
are:

     * carrying on a financial services business and engaging in
credit activities without holding an Australian financial services
licence or an Australian credit licence;

     * engaging in misleading or deceptive conduct while carrying
on a financial services business;
     * making false or misleading representations regarding
financial services and financial products that involve interest in
land;

     * giving false or materially misleading information when
engaging in a credit activity; and

     * obtaining property and financial advantage by deception.

Remedy Housing advertises on its website and social media platforms
that it can provide customers with ‘interest free mortgages' upon
receipt of a $10,000 deposit.

Between Nov. 7, 2019 to March 10, 2021, approximately 123 potential
customers deposited a total of $1,484,250 into a bank account in
Remedy Housing's name.

On June 17, 2021, the Court found there was a need to protect
aggrieved persons and made the following orders on an ex parte
basis:

     * asset preservation orders against the Defendants, their
wives and Remedy Housing;

     * orders requiring the disclosure of information to ASIC
against each of the Defendants, their wives and Remedy Housing;
and

     * travel restraint orders for the Defendants.

On June 24, 2021, the Court also made further orders restraining
the Defendants and Remedy Housing from carrying on or promoting the
Remedy Housing business. The Defendants and Remedy Housing were
ordered to take down the website remedyhousingaustralia.com.au and
associated social media promotions.

These orders were made pending a final hearing into the conduct of
the Defendants and Remedy Housing in which ASIC is seeking a
permanent injunction preventing the Remedy Housing business from
operating.

ASIC's investigation into the Defendants and Remedy Housing remains
ongoing.


SOUTHERN AUSTRALIA: Second Creditors' Meeting Set for July 2
------------------------------------------------------------
A second meeting of creditors in the proceedings of Southern
Australia Cattle Company Pty Ltd has been set for July 2, 2021, at
11:00 a.m. via virtual meeting technology.

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

Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by July 1, 2021, at 4:00 p.m.

(Melissa) Poh Bee Lau and Jimmy Trpcevski of Jirsch Sutherland were
appointed as administrators of Southern Australia on May 31, 2021.


STEELCON GROUP: Second Creditors' Meeting Set for July 7
--------------------------------------------------------
A second meeting of creditors in the proceedings of Steelcon Group
Pty Ltd has been set for July 7, 2021, at 11:00 a.m. via virtual
meeting.

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

Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by July 6, 2021, at 2:00 p.m.

Philip Raymond Hosking of Helm Advisory was appointed as
administrator of Steelcon Group on June 1, 2021.


TRINCO (NSW): Second Creditors' Meeting Set for July 2
------------------------------------------------------
A second meeting of creditors in the proceedings of Trinco (NSW)
Pty Ltd has been set for July 2, 2021, at 10:00 a.m. via Zoom or
teleconference facilities.

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

Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by July 1, 2021, at 4:00 p.m.
Henry McKenna of Vincents was appointed as administrators of Trinco
(NSW) on June 3, 2021.


ULTIMATE YOU: Second Creditors' Meeting Set for July 1
------------------------------------------------------
A second meeting of creditors in the proceedings of:

    - Ultimate You Franchise Company Pty Ltd;
    - Ultimate You Melbourne Pty Ltd;
    - UY South Melbourne Pty Ltd;
    - Ultimate You Geelong Pty Ltd; and
    - The Perisan Coffee House Pty Ltd

has been set for July 1, 2021, at 10:00 a.m. via teleconference
only.

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

Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by July 30, 2021, at 5:00 p.m.

Sule Arnautovic of Hall Chadwick was appointed as administrator of
Ultimate You et al. on May 28, 2021.


VENTIA SERVICES: Moody's Assigns Ba2 CFR on Strong Liquidity
------------------------------------------------------------
Moody's Investors Service has assigned a Ba2 corporate family
rating to Ventia Services Pty Ltd. At the same time, Moody's has
withdrawn the Ba2 corporate family rating and stable outlook
assigned to Ventia Pty Ltd. The outlook on Ventia Services Pty Ltd
is stable.

RATINGS RATIONALE

Ventia's Ba2 rating benefits from: (1) its well-established
position in a number of key essential service sectors with a strong
safety track record; (2) growth opportunities and a sound contract
pipeline stemming from a growing pipeline of infrastructure
spending; and (3) a strong liquidity position.

On June 30, 2020, Ventia completed the transformative acquisition
of Broadspectrum Pty Ltd. The acquisition has improved Ventia's
market position, revenue diversification and service offerings.

At the same time, the company's rating is constrained by: (1)
moderate financial profile; and (2) the inherent risks associated
with efficient project execution, sustaining a high level of
contract renewals and success in new contract tenders at commercial
margins.

The stable outlook reflects Moody's view that Ventia will operate
within the parameters set for its current rating.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) CONSIDERATIONS

The impact on the telecommunications and infrastructure services
segment from COVID-19 pandemic related disruptions have been
relatively less severe given the essential nature of their
operations.

Moody's regard the coronavirus outbreak as a social risk under its
environmental, social and governance (ESG) framework, given the
substantial implications for public health and safety.

Ventia is 50% owned by Apollo Global Management LLC. Ventia's
ownership structure presents some governance risk, to the extent
that private equity firms tend to prioritize more aggressive growth
plans and strategies, including a tolerance for higher leverage.

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

Moody's could upgrade the ratings if Ventia's adjusted debt/EBITDA
is sustained below 3.5x and EBITA margins improve and are sustained
above 10%.

On the other hand, Moody's could downgrade the ratings if Ventia
engages in further debt-funded shareholder-friendly initiatives
and/or is unable to deleverage the company following the
Broadspectrum acquisition, such that its debt/EBITDA remains above
4.5x and EBITA margins remain below 5%.

The principal methodology used in these ratings was Construction
Industry published in March 2017.

Ventia is a leading services provider to clients providing
essential services in Australia and New Zealand across Defence &
Social Infrastructure, Telecommunications, Infrastructure Services
and Transport sectors.

Ventia is a 50:50 investment partnership between CIMIC Limited and
funds managed by affiliates of Apollo Global Management LLC.



=========
C H I N A
=========

CHINA HUARONG: Citic Group to Examine Huarong's Finances
--------------------------------------------------------
Bloomberg News reports that China has asked one of its biggest
state-owned conglomerates to examine the finances of China Huarong
Asset Management Co., people familiar with the matter said, adding
a new twist to the drama that has roiled the world's second-largest
credit market for months.

Bloomberg relates that Citic Group, whose businesses span
everything from banking to securities and mining, recently
dispatched a team to Huarong to pore over the embattled
distressed-debt manager's books, the people said, asking not to be
identified discussing private information.

It couldn't immediately be determined what, if anything, might
result from Citic Group's involvement, the report says. In 2019 the
conglomerate and China Everbright Group were asked to examine the
books of troubled regional lender Baoshang Bank Co., one of the
people said, but the lender was ultimately taken over by Chinese
regulators.

According to Bloomberg, Citic Group's emergence as a new player in
the Huarong saga comes as the bad-debt manager reaches the final
stages of preparing its past-due 2020 financial results.
Publication could come within the next few weeks, sooner than a
previous internal timeline to announce by the end of August, a
person familiar with the matter said.

Huarong's fate has been the subject of intense speculation ever
since it missed a deadline to report results at the end of March,
Bloomberg notes. That stoked speculation the state-owned company
might be headed for a landmark default, sending its bonds to record
lows. Doubts about the Chinese government's support for Huarong
have prompted a broader rethink of the decades-long assumption that
Beijing will always stand behind the debt of state-controlled
borrowers, according to Bloomberg.

Bloomberg says Chinese authorities have so far said little about
their long-term plans for Huarong, leaving investors to guess at
whether President Xi Jinping will make an example out of company as
part of his campaign to rein in moral hazard. Citic Group's
involvement may signal the government is mulling potential
"market-driven" solutions to Huarong's debt issues, said Dan Wang,
an analyst at Bloomberg Intelligence in Hong Kong.

"A takeover is unlikely but Citic may be considering buying stakes
or assets in subsidiaries," Wang said.

Established in 1979 to help pilot Deng Xiaoping's economic reforms,
Citic Group is a ministerial level financial conglomerate directly
overseen by China's State Council. That means it sits above Huarong
in the nation's complex hierarchy of government ministries and
state-owned enterprises, notes Bloomberg. Citic Group last year
appointed former People's Bank of China Deputy Governor Zhu Hexin
as its chairman.

Citic Ltd., the group's main listed arm, has about HK$9.7 trillion
($1.25 trillion) of assets and holds stakes in firms including
China Citic Bank Corp. and Citic Securities Co.

While Citic Group is considered among China's most important
state-owned companies, some of its holdings have faced their own
share of financial turbulence in recent years. Citic Guoan Group,
part owned by Citic Group, was among a slew of companies that
missed bond payments during a liquidity squeeze in local credit
markets in 2019.

According to Bloomberg, Huarong has been effectively frozen out of
the bond market since the end of March, even as the company has
continued to repay maturing notes on time and reached agreements
with state-owned banks to ensure it can meet obligations through at
least the end of August.

Some market observers have speculated Huarong's recent history of
scandals could make it an ideal candidate for default in the eyes
of senior policy makers, Bloomberg says. Many of the company's
financial troubles stem from an ill-fated expansion under former
Chairman Lai Xiaomin, who was executed for crimes including bribery
in January.

Still, there are signs that Huarong can at least buy time as it
tries to clean up its balance sheet and comply with regulatory
orders to return to its core business of managing bad loans.

China Huarong International Holdings Ltd., the company's main
offshore unit, returned to a profit in the first quarter and said
last week its business has continued to improve, Bloomberg relates.
The parent company appointed Liang Qiang as its deputy party
secretary this month, gaining an industry veteran to help lead its
overhaul.

Analysts at Bloomberg Intelligence estimate Huarong can raise more
than $7 billion from asset sales, enough to service debt well into
2022. Higher prices on Huarong's short-dated bonds suggest
investors are pricing in a "muddle through" scenario in the
near-term, Goldman Sachs Group Inc. analysts Kenneth Ho and Chakki
Ting wrote in a June 18 report, Bloomberg relays.

"Whilst we believe full government bailouts are less likely now
than compared with the past, we do expect there will be government
support if any pickup in credit stresses leads to systemic concerns
emerging," the analysts wrote.

China Huarong Energy Co Limited (formerly China Rongsheng Heavy
Industries) -- http://www.huarongenergy.com.hk/en/index.php--
engages in shipbuilding, energy exploration and production, marine
engine building, offshore engineering and engineering machinery.


LOGAN GROUP: Fitch Assigns BB Rating to Proposed USD Sr. Notes
--------------------------------------------------------------
Fitch Ratings has assigned China-based property developer Logan
Group Company Limited's (BB/Positive) proposed US dollar senior
notes a rating of 'BB'.

The proposed notes are rated at the same level as Logan's senior
unsecured rating, as they represent its direct, unconditional,
unsecured and unsubordinated obligations. Logan plans to use the
proceeds from the proposed notes for refinancing purposes.

Logan had an improving financial profile in 2020, with Fitch
expecting leverage to be lower than 35% in the next 12-18 months,
and remain at this level because the company has sufficient land
bank to support growth. Logan's business expansion has shown
financial discipline - evident in the lower leverage - and it has
maintained high profitability with an EBITDA margin of about 30%.
Logan was also able to maintain strong attributable sales growth,
rising by 32% to CNY121 billion in 2020.

Fitch expects Logan to maintain a strong market position in the
Greater Bay Area (GBA), increase recognised revenue from contracted
sales from property development and sustain cash collection.

KEY RATING DRIVERS

Leverage to Decrease: Fitch expects Logan's leverage - measured by
net debt/adjusted inventory that proportionately consolidates joint
ventures (JVs) and associates - to decrease below 35%. Leverage was
unchanged at 35% at end-2020 from end-2019 (2018: 41%). The company
spent CNY47.6 billion on replenishing its land bank in 2020, or 39%
of attributable contracted sales (2019: 42%).

The total land reserve at end-2020 was sufficient for development
over the next five years. Fitch expects the company to spend
35%-40% of its consolidated contracted sales on land replenishment
in 2021-2022 and to maintain a land bank sufficient for four to
five years of development.

Sustained High Margins: Fitch expects the EBITDA margin to decrease
to 27%-28% in the next one to two years, but remain higher than
that of peers. Logan's EBITDA margin, excluding capitalised
interest from cost of sales, was 30% in 2020 (2019: 32%, 2018:
32%). Logan had unrecognised contracted sales of CNY120 billion at
end-2020 with a gross profit margin of 28%-30%, and these will be
recognised as revenue over the next 18-24 months. Logan's high
margin is driven by low landbank costs from urban renewal
projects.

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

Revenue and Cash Collection: Fitch expects Logan to increase the
development segment's revenue and implied cash collection (defined
as change in customer deposits plus revenue booked during the
year). Development revenue was CNY55 billion in 2020 and implied
cash collection CNY72 billion, against attributable contracted
sales of CNY121 billion. Fitch expects Logan to increase the
absolute amount of revenue recognised from development sales and
implied cash collection as its contracted sales rise.

Expanding Sales Scale: Fitch expects Logan's attributable
contracted sales to increase to CNY130 billion in 2021 and CNY140
billion in 2022. Logan's attributable contracted sales rose by 32%
to CNY120.7 billion in 2020. The contracted floor space sold rose
by 9% to 7.5 million sq m, and the contracted average selling price
(ASP) increased to CNY15,637/sq m due to higher sales from the GBA
and Yangtze River Delta, where prices are higher than the Nanning
area. Logan has saleable resources of CNY240 billion for launch in
2021.

Market Leadership in GBA: Logan has a strong market position and
record in the competitive GBA market. Fitch expects Logan to
continue to solidify the market position in the region because it
can secure good land bank at low costs in the region. The GBA
accounted for 59% of sales in 2020 (2019: 56%), and will remain
high at around 55% in 2021-2022. However, the concentration risk is
mitigated by the strong economic fundamentals and demand for
housing in the region.

Expansion into New Markets: Fitch believes Logan's expansion into
new cities, including the Yangtze River Delta and Guangxi, has also
helped mitigate concentration risks. Presales for the Yangtze River
Delta projects in 2020 contributed 8% to Logan's total contracted
sales, against 3% in 2019. The southwest region of China accounted
for 17% of total contracted sales 2020 compared with 25% in 2019.

DERIVATION SUMMARY

Logan's contracted sales are comparable with those of 'BB' rated
Chinese homebuilders, such as CIFI Holdings (Group) Co. Ltd.'s
(BB/Stable) CNY100 billion and China Aoyuan Group Limited's
(BB/Negative) CNY101 billion, and are higher than those of 'BB-'
rated peers, which have contracted sales of CNY50 billion-80
billion.

Logan's leverage of 35% at end-2020 was also lower than 'BB' rated
peers, such as CIFI at 40% and Aoyuan at 42%. Logan's EBITDA margin
of around 30% was higher than both CIFI's 22% and Aoyuan 28%. Logan
continued its geographical focus on Tier 1 and Tier 2 cities, while
CIFI and Aoyuan have larger geographical exposures in lower-tier
cities.

Peer Seazen Group Limited (BB+/Stable) has a larger scale of CNY170
billion. In addition, Seazen had lower leverage of 22% at end-2020
compared with Logan's 35%. Logan's EBITDA margin, excluding
capitalised interest, is higher than Seazen's 21%. Both companies
have similar liquidity of available cash/short-term debt of around
1.5x.

KEY ASSUMPTIONS

Fitch's keys assumptions within its rating case for the issuer
include:

-- Total contracted sales of CNY150 billion in 2021 and CNY160
    billion in 2022 (2020: CNY137 billion);

-- EBITDA margin, with capitalised interest excluded from cost of
    sales, of 27%-28% in 2021-2022 (2020: 30%);

-- About 35%-40% of contracted sales proceeds to be spent on land
    acquisitions in 2021-2022 to maintain a land bank sufficient
    for around five years of development.

RATING SENSITIVITIES

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

-- Sustained strong market position in core markets;

-- Sustained revenue scale and implied cash collection;

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

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

-- Outlook will be revised to Stable if the company does not meet
    the upgrade triggers in the next 12-18 months.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Non-Financial Corporate
issuers have a best-case rating upgrade scenario (defined as the
99th percentile of rating transitions, measured in a positive
direction) of three notches over a three-year rating horizon; and a
worst-case rating downgrade scenario (defined as the 99th
percentile of rating transitions, measured in a negative direction)
of four notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are
based on historical performance.

LIQUIDITY AND DEBT STRUCTURE

Sufficient Liquidity: Logan had total cash on hand of CNY42.9
billion, including CNY7.2 billion of restricted cash and pledged
deposits, as of end-2020. Available cash of CNY35.7 billion is
sufficient to cover short-term debt of CNY24.5 billion maturing
within one year (short-term debt includes an onshore puttable bond
of CNY1.2 billion) and net short-term liabilities under
cross-border guarantee arrangements of CNY1.1 billion.

ISSUER PROFILE

Logan is a mid-sized Chinese property developer with a strong base
in the GBA, which accounted for 59% of contracted sales in 2020.
The majority of Logan's near-term land bank in 2021 is in the GBA.

SUMMARY OF FINANCIAL ADJUSTMENTS

Fitch's calculation of CNY137 billion in adjusted inventory at
end-2020 includes: properties under development; completed
properties held for sale; land-use rights; prepayments for the
acquisition of land-use rights; buildings; properties under
construction; investment properties; amounts due from
non-controlling interests; contracted liabilities is deducted to
arrive at adjusted inventory. Fitch also adds in the proportional
consolidation of the net debt and adjusted inventory of JVs and
associates to arrive at Logan's leverage.

Fitch has included CNY6.1 billion of liabilities under cross-border
guarantee arrangements as debt. Fitch has included CNY5.0 billion
of assets under cross-border guarantee arrangements as cash.

ESG CONSIDERATIONS

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



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

A H MALLICK: CARE Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------
CARE Ratings said the rating for the bank facilities of A H Mallick
Agro Services and Cold Storage Private Limited (AHM) continues to
remain in the 'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        8.52      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Short Term Bank       0.26      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated April 21, 2020, placed the
ratings of AHM under the 'issuer non-cooperating' category as AHM
had failed to provide information for monitoring of the rating and
had not paid the surveillance fees for the rating exercise as
agreed to in its Rating Agreement. AHM continues to be
non-cooperative despite repeated requests for submission of
information through emails, phone calls and an email dated March 7,
2021, March 27, 2021 among others. In line with the extant SEBI
guidelines, CARE has reviewed the rating on the basis of the best
available information which however, in CARE's opinion is not
sufficient to arrive at a fair rating.

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

Incorporated in January 2012, A. H. Mallick Agro Services and Cold
Storage Private Limited (AHM) was promoted by the Mallick family of
Hooghly, West Bengal to set up a cold storage facility at Hooghly,
West Bengal. After successfully setting up the cold storage
facility, the company has commenced its commercial operations from
March 2013. The company is engaged in the business of providing
cold storage facility primarily for potatoes and is operating with
a storage capacity of 15,650 metric ton (MT). This apart, the
company is in potato trading business.


ACARA BIOHERB: CARE Keeps D Debt Rating in Not Cooperating
----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of ACARA
Bioherb Private Limited (ABPL) continues to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Short Term Bank       8.50      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated April 21, 2020, placed the
rating(s) of ABPL under the 'issuer non-cooperating' category as
PEPL had failed to provide information for monitoring of the
rating. ABPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails, phone calls
and email dated March 18, 2021 till March 27, 2021. In line with
the extant SEBI guidelines, CARE has reviewed the rating on the
basis of the public available information which however, in CARE's
opinion is not sufficient to arrive at a fair rating.

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

The ratings have been revised on account of non-availability of
requisite information due to non-cooperation by ACARA Bioherb
Private Limited (ABPL) with CARE's effort to undertake a review of
the outstanding ratings as CARE views information availability risk
as key factor in its assessment of credit risk profile.

Bangalore based Acara Bioherb Private Limited (ABPL) is a Private
Limited Company started by Mr. H.Pawan in the year 2012. ABPL is
involved in the business of manufacturing and exporting of herbal
cosmetics and herbal extracts. The manufacturing and export of
herbal extracts unit was started in July 2017. Some of the main
products of ABPL are henna, hair cream, shampoos, scrubs,
moisturizers, and herbal health supplements. The company procures
most of its raw materials like glycerine, harinol IPM and
fragrances locally from Maharashtra. Currently, ABPL exports
majority (about 90%) of its produce to Middle East and United
Kingdom. While the herbal cosmetics are sold on business to
customer model in Middle Eastern Countries (under the brand name
'Acara'), the herbal extracts used in pharmaceutical, food and
dietary industry are sold on business to business model in United
Kingdom.


AVANTA ENGINEERINGS: CARE Lowers Rating on INR9cr LT Loan to B
--------------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Avanta Engineerings Private Limited (AEPL), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        9.00      CARE B; 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 May 19, 2020 placed the
rating of AEPL under the 'issuer non-cooperating' category as AEPL
had failed to provide information for monitoring of the rating and
had not paid the surveillance fees for the rating exercise as
agreed to in its Rating Agreement. AEPL continues to be
noncooperative despite repeated requests for submission of
information through e-mails, phone calls and letter/emails dated
April 4, 2021, April 14, 2021, April 24, 2021. 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 rating has been revised on account of non-cooperation from
client and non-interaction with the banker and auditors.

Incorporated in November 2015, Avanta Engineerings Private Limited
(AEPL) was promoted by the Jain family of Chhattisgarh to set up a
wire and strips plant. AEPL has already set up the nonferrous
metals aluminum zinc coated wires and strips unit in Durg. The
company has started commercial operation from April 2018. Mrs.
Prabha Devi Jain having over two decades of experience in
diversified business, will look after the overall management of the
company supported by Mr. Arvind Jain having over a decade of
experience along with a team of experienced professional.


BILTECH BUILDING: CARE Keeps D Debt Rating in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Biltech
Building Elements limited (BBEL) continues to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       62.99      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated April 28, 2020, continues to
place the ratings of BBEL under the 'Issuer Not Cooperating'
category as the company had failed to provide the requisite
information required for monitoring of the ratings as agreed to in
its rating agreement. Biltech Building Elements Limited continues
to be non-cooperative despite repeated requests for submission of
information through phone calls and a letter/email dated April 3,
2021 and March 14, 2021. In line with the extant SEBI guidelines,
CARE has reviewed the rating on the basis of the best available
Information which however, in CARE'S opinion is not sufficient to
arrive at a fair rating.

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

The ratings on bank facilities of Biltech Building Elements Limited
will be denoted as CARE D; Issuer not cooperating.

Biltech Building Elements limited (BBEL), an Avantha group company,
was incorporated in 2004. It is engaged in manufacturing
'Autoclaved Aerated Concrete Blocks, i.e. AAC-Blocks for 'green
building' process by utilizing fly-ash, lime, cement, gypsum and
aluminium powder as major raw materials. Avantha group (erstwhile
Thapar Group) is a renowned group of India with over seven decades
of existence. The group is currently led by Mr. Gautam Thapar and
has business interest in sectors like, pulp and paper
manufacturing, power transmission and services equipment, food
processing, power, chemicals, IT & ITES etc. Presently, BBEL has
seven plants in operation- Palwal in Haryana (taken over from group
company Ballarpur Industries Ltd in FY05), Bhigwan in Pune (set up
in FY09), Palghar in Maharashtra (acquired in FY12), Budge Budge in
Kolkata (set up in FY12) and Surat in Gujarat (acquired in FY13),
Tumkur in Karnataka and Pune in Maharashtra acquired from Siporex
India Pvt Ltd (owned by the BG Shirke Group) in FY17. Total
installed capacity of BBEL aggregates to 13.40 lakh cubic metres
per annum.


BLUEPARK SEAFOODS: CARE Keeps D Debt Rating in Not Cooperating
--------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Bluepark
Seafoods Private Ltd. (BSPL) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       85.00      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Short Term Bank      10.00      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated April 15, 2020, placed the
ratings of BSPL under the 'issuer non-cooperating' category as BSPL
had failed to provide information for monitoring of the rating for
the rating exercise as agreed to in its Rating Agreement. BSPL
continues to be non-cooperative despite repeated requests for
submission of information through e-mails, phone calls and email
dated March 11, 2021, March 16, 2021, March 21, 2021, June 4, 2021,
June 8, 2021 among other. In line with the extant SEBI guidelines,
CARE has reviewed the rating on the basis of the best available
information which however, in CARE's opinion is not sufficient to
arrive at a fair rating.

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

The Bluepark Seafoods Private Limited (BSPL) was promoted by Mr.
Mohan Rao in the year 1997. BSPL is engaged in processing of
Vannamei white shrimp and exporting of cultured shrimps to USA,
Vietnam, EU and Middle East. The processing facility of company is
located at Kurumaddali, Pamarru, Krishna Dist, Andhra Pradesh. The
plant has a capacity to produce 30 metric tonnes of frozen shrimp
products per day. The processing facility is approved by USFDA
(USA), EU (Europe), Hazard analysis and critical control points
(HACCP), British Retail Consortium (BRC) and ISO: 22000 certified.

CHAITANYA HI-TECH: CARE Lowers Rating on INR8.20cr LT Loan to B+
----------------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Chaitanya HI-Tech Engineering Company Private Limited (CHEPL), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       8.20       CARE B+; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT  
                                   COOPERATING category and
                                   Revised from CARE BB-; Stable

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated April 30, 2020, placed the
rating of CHEPL under the 'issuer non-cooperating' category as
CHEPL had failed to provide information for monitoring of the
rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. CHEPL continues to
be non-cooperative despite repeated requests for submission of
information through phone calls and emails dated March 26 2021 till
April 5, 2021. In line with the extant SEBI guidelines, CARE has
reviewed the rating on the basis of the best available information
which however, in CARE's opinion is not sufficient to arrive at a
fair rating.

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

The ratings have been revised on account of non-availability of
requisite information due to non-cooperation by Chaitanya HI-Tech
Engineering Company Private Limited with CARE's effort to undertake
a review of the outstanding ratings as CARE views information
availability risk as key factor in its assessment of credit risk
profile.

Based out of Bengaluru, Chaitanya Hi-Tech Engineering Private
Limited (CHEPL) was incorporated on April 16, 1997 by Mr. Lalith
Raghav, Ms. Bhavana Ramesh Kumar, Ms. Nalinakshi K.B and Mr. H.L.
Ramesh Kumar for setting up a manufacturing unit of camshafts. Over
the years, the company has started production of other auto-parts
apart from camshaft such as drive shaft, valve housing, plunger
fitting, valve holders, armature shaft, rotor shaft, gear shaft,
adjusting pin and lever shaft. The plants of the company are ISO TS
16949 certified.


CHANDNA INFRAPROJECTS: CARE Keeps D Debt Ratings in Not Cooperating
-------------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Chandna
Infraprojects India Private Limited (CIIPL) continues to remain in
the 'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        9.50      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Short Term Bank       0.50      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated March 30, 2020, placed the
rating of CIIPL under the 'issuer non-cooperating' category as
CIIPL had failed to provide information for monitoring of the
rating for the rating exercise as agreed to in its Rating
Agreement. CIIPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails, phone calls
and an email dated February 23, 2021, February 28, 2021 and June
11, 2021. In line with the extant SEBI guidelines, CARE has
reviewed the rating on the basis of the best available information
which however, in CARE's opinion is not sufficient to arrive at a
fair rating.

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

Jaipur (Rajasthan) based CIIPL, incorporated in 2010, is a part of
Chandna Group which is engaged primarily in the mining of marbles
and granites as well as cutting and processing of marbles since
2000.


CHOUHAN AUTOMOBILES: CARE Keeps C Debt Rating in Not Cooperating
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Chouhan
Automobiles LLP (CALLP) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       20.50      CARE C; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT  
                                   COOPERATING category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated April 24, 2020, placed the
rating of CALLP under the 'issuer non-cooperating' category as
Chouhan Automobiles LLP had failed to provide information for
monitoring of the rating and had not paid the surveillance fees for
the rating exercise as agreed to in its Rating Agreement. Chouhan
Automobiles LLP continues to be non-cooperative despite repeated
requests for submission of information through emails, phone calls
and an email dated March 10, 2021, March 20, 2021 and March 30,
2021 among others. 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.

Bhilai (Chhattisgarh) based, Chouhan Automobiles LLP (CALLP) was
established as a partnership firm in June 2017 and the firm has
been engaged in dealership business of automobiles.


DR. M N TANDON: CARE Lowers Rating on INR4.26cr LT Loan to C
------------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of Dr.
M N Tandon Memorial Charitable Trust (DMN), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       4.26       CARE C; ISSUER NOT COOPERATING
   Facilities                      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 June 16, 2020, placed the
rating of DMN under the 'issuer non-cooperating' category as DMN
had failed to provide information for monitoring of the rating for
the rating exercise as agreed to in its Rating Agreement. DMN
continues to be non-cooperative despite repeated requests for
submission of information through e-mails, phone calls and emails
dated May 2, 2021, May 16, 2021 and May 17, 2021. In line with the
extant SEBI guidelines, CARE has reviewed the rating on the basis
of the best available information which however, in CARE's opinion
is not sufficient to arrive at a fair rating.

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

The revision in the rating is on account of non-availability of
operational and financial performance of the trust for FY21 (refers
to the period April 1 to March 31).

Dr. M N Tandon Memorial Charitable Trust (DMN) was formed in 2012
by Mrs. Maya Tandon wife of Dr. M.N Tandon along with a group of
practicing medical consultants to operate a critical care unit.
However, in May, 2016, trustees have changed and start operating a
multi and super specialty hospital, under the name of "Jeevan Rekha
Critical Care and Trauma Hospital" at Jaipur having 150 beds which
includes general wards, private rooms and Intensive-Care Units
(ICU) etc. The hospital provides specialized services related to
various medical specialties viz. orthopedic, neurology, cardiology,
gastroenterology, gynecology, general surgery, general medicine,
dermatology, urology, nephrology, ENT, critical care, radiology,
pathology and micro logy.


G.R MULTIFLEX: CARE Keeps D Debt Rating in Not Cooperating
----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of G.R
Multiflex Packaging Private Ltd (GRMPL) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       12.00      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated April 22, 2020, placed the
rating of GRMPL under the 'issuer non-cooperating' category as G.R
Multiflex Packaging Private Limited had failed to provide
information for monitoring of the rating and had not paid the
surveillance fees for the rating exercise as agreed to in its
Rating Agreement. G.R Multiflex Packaging Private Limited continues
to be non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and an email dated March
3, 2021, March 13, 2021 and March 23, 2021 among others. 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.

Kolkata based G.R Multiflex Packaging Private Ltd (GRMPL) was
incorporated in July 2002 and currently managed by Mr. Rabindra
Kumar Jaiswal and Mrs. PrativaJaiswal. Since its inception, the
company has been engaged in manufacturing of flexible packaging
materials such as polyester laminated rolls, multilayer flexible
films, oil print films, water printed films, and bags and pouches.
The company's manufacturing facility is located in Kolkata with
aggregated installed capacity of 1404 metric ton per annum.


H.S. INDIA: Ind-Ra Lowers Long-Term Issuer Rating to 'B-'
---------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded H.S. India
Limited's (HSIL) Long-Term Issuer Rating to 'IND B- (ISSUER NOT
COOPERATING) from 'IND BB+ (ISSUER NOT COOPERATING)'. The issuer
did not participate in the surveillance exercise despite continuous
requests and follow-ups by the agency. Thus, the rating is based on
the best available information. Therefore, investors and other
users are advised to take appropriate caution while using the
ratings.

The instrument-wise rating action is:

-- INR157.5 mil. Term loan due on March 2022 downgraded with IND
     B- (ISSUER NOT COOPERATING) rating.

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

KEY RATING DRIVERS

The downgrade reflects HSIL's continued weak operational
performance in FY21, according to the information available in the
public domain. During FY21, the revenue declined by a significant
60.3% yoy to INR102.78 million and the EBITDA margin fell to 13.15%
(FY20: 18.29%). Ind-Ra believes the deterioration in FY21's
operating performance could be attributed to the impact of
COVID-19-led disruptions on the hotel industry.

Furthermore, HSIL's credit metrics deteriorated in FY21 due to the
decrease in the absolute EBITDA to INR13.52 million (FY20: INR47.39
million). The gross coverage (operating EBITDA/gross interest
expense) was 0.78x in FY21 (FY20: 2.16x) and the net leverage
(total adjusted net debt/operating EBITDA) was 9.24x (2.62x).

Liquidity Indicator – Poor: The cash flow from operations
continued to be negative at INR12.36 million (FY20: negative
INR1.62 million). The net working capital days stretched to 112
days in FY21 (FY20: 50 days), mainly because of an increase in the
receivable days to 80 days (35 days) and inventory period to 76
days (39 days).

The ratings have been maintained in the non-cooperating category as
the company has not provided information about sanctioned bank
facilities, utilization of working capital, business plan and
projections for the next three years.

COMPANY PROFILE

HSIL operates a three-star hotel named Lords Plaza which comprises
of 134 rooms, a multi-cuisine restaurant named Blue Coriander, a
sky grill restaurant named Lime tree; six banquet halls and one
liquor shop.

HERITAGE FINLEASE: Ind-Ra Assigns 'BB+' Bank Loan Rating
--------------------------------------------------------
India Ratings and Research (Ind-Ra) has taken the following rating
actions on Heritage Finlease Limited's (HFin) bank loans:

-- INR210 mil. Bank loan affirmed with IND BB+/Stable rating; and

-- INR290 mil. Bank loan assigned with IND BB+/Stable rating.

KEY RATING DRIVERS

The rating factors in HFin's small, albeit improving, scale of
operations, with assets under management of INR553 million in FY21
(FY20: INR 335 million)  and its significant operational linkages
with its parent group entity, Heritage Foods Limited (HFL). At
end-FY21, HFin was primarily owned by the Nara family (92% stake
through Nirvana Holdings Private Limited), while HFL (51% stake
owned by the Nara family) held 4%.

The rating factors in HFin's modest infrastructure, with a small
team size and key credit and field operations being carried out at
arm's length with HFL. The group's key infrastructure, such as
administrative premises, are shared with the group's other
entities, indicating high group synergies

HFL has a large presence in Andhra Pradesh, with a turnover of
INR24,731 million in FY21. HFin mainly provides loans to dairy
farmers and milk accumulators against the tripartite arrangement of
milk consideration payable by HFL to the dairy farmers, primarily
in Andhra Pradesh and Telangana, which accounted for around 84% of
the dairy loan book in FY21. However, HFin's penetration among
HFL's farmers was low about 1%, indicating a HFL's marginal
dependence on HFin.  While this provides substantial headroom for
HFin to expand its operations in the HFL network, the former's
capacity is limited by its financial profile.

The ratings are constrained by HFin's concentrated funding profile
(cash credit line of INR250 million from one bank). The company
expects sanctions from three-to-four banks in FY22. HFin had total
outstanding borrowings of INR394 million at end-FY21; it mobilized
inter corporate deposits (INR50 million) and loans from directors
(INR110 million) in order to support its growth of around 65% in
FY21. Its ability to diversify its funding profile would remain a
key monitorable.

The ratings factor in the stable asset quality, which is supported
by the continued stability in HFin's asset quality, resulting from
the tripartite agreement on dairy loans, which ensures timely
collections on majority of its loans; only the discontinuation of
milk supply could lead to delinquencies. HFin is also diversifying
its loan portfolio in the personal loan, loans against property
(LAP) and micro, small and medium enterprise (MSME) segments. In
FY21, HFin disbursed around INR1,200 million. At end-FY21, of the
outstanding portfolio of INR553 million, personal loans accounted
for 12%, LAP formed 2% and MSME accounted for 7%; dairy loans
formed around 78%.

The agency expects both delinquencies and the credit costs in the
non-dairy book to be materially higher, notwithstanding the impact
of the second wave of COVID-19. Furthermore, the second wave of the
pandemic has especially impacted LAP, unsecured lending business
and personal loan segment significantly where the losses given
default could be higher than historic performance of these loans.

HFin follows a 180 days' non-performing assets (NPA) recognition
policy; gross NPA was 0.98% in FY21 (FY20: 1.6%). The dairy
portfolio is granular, with the top 50 loans forming 16% of the
total portfolio in 9MFY21. However, the non-dairy loans are
comparatively chunkier, with the top 50 non-dairy loans accounting
for around 14% of the total portfolio. The 90 days past due stood
at around 1.6% in FY21 (FY20: 1.98%).

HFin's yield in the dairy loan segment (yield as of FY21: 18.6) has
been stable around 18% over FY17-FY21 and is likely to sustain at
similar levels over the medium term, based on the company's
borrower profile, as it faces low competition in rural areas as the
borrowers' credit profile is comparatively weak for a bank. As most
operations are in-housed through the group, the operating costs are
low (FY21: 3.4%; pre-provisioning operating profit as of
FY21:10.3%; FY20: 8.03%) despite the retail nature of business. The
credit costs have remained modest; however, the performance of
newly originated loan book would remain a key monitorable, Ind-Ra
believes the second wave of pandemic could impact the asset quality
across non-banking finance companies, and hence, the credit costs.
In FY21, the company reported return on average assets of 7.4%
(FY20:5.4%) and return on average equity of 24.4% (14.9%).

The ratings factor in HFin's aggressive growth plans in the
medium-to-long term. The company  is in the process of revamping
its IT systems and hiring new staff, including widening the senior
management teams across verticals. It plans to appoint an internal
auditor and risk head that would to improve governance. It also
plans to revamp and update its processes and develop technological
platform to manage all parts of loan life cycle. This would have
substantial capex and operational expense implications. HFin plans
to raise equity of INR 100 million in FY22 and is also in talks
with more PSU banks for funding and co-lending arrangements, which
it expects to materialize in the near term. Furthermore, it intends
to venture into education loans through tripartite arrangement
involving students and educational institutions in the near term.
The implementation/successful execution of these initiatives
remains a key monitorable. Ind-Ra expects continuous progress on
the aforementioned plans.

Liquidity Indicator- Adequate: HFin had comfortable Tier-1
capitalization ratio of 34% at end-March 2021, well above the
regulatory requirement (15%). Its asset-liability profile is likely
to undergo a structural change as non-dairy loans have an average
tenure of two-to-three years and a major portion of its funding is
short-term in nature. HFin's ability to manage asset liability
profile as it diversifies its product portfolio and maintain
sufficient liquidity buffers is yet to be demonstrated. In FY21,
the company's leverage (debt/equity) stood at 2.5x (FY20:1.7x). It
had a utilized bank limit of around INR22 million at end-April
2021. For the three months starting May 2021, the company has debt
servicing of INR7.5 million. The bank loans are guaranteed by the
parent entity, and there are no major outflows for the company in
the medium term.

RATING SENSITIVITIES

Negative: Reduced group ownership or decline in the operational
linkages with HFL could result in a downgrade. HFin's ratings could
also be downgraded on higher-than-expected asset quality
deterioration; weakening of the pre-provision operating profit
buffer, and NPAs exceeding 4%.

Positive: Expansion of business, along with a gradual strengthening
of its franchise with maintained asset quality and profitability,
which would provide sufficient internal capital to finance loan
growth, could lead to a rating upgrade. Increase in the importance
of HFin to the overall group's profitability along with an increase
in operational and/or financial linkages with HFL could result in a
positive rating action. Substantial progress in the plans shared by
HFin, along with sustained considerable growth in the franchise,
net worth and maintaining reasonable asset quality metrics could
also lead to a positive rating action.  

COMPANY PROFILE

HFin is a Hyderabad-based non-banking finance company that
primarily provides loans to milk-supplying cattle farmers towards
the purchase of livestock. It also offers personal loans, business
loans and loans against property HFin has been in the lending
business since 1996.

HI-TEC ROCKFIBRE: CARE Keeps D Debt Rating in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of HI-Tec
Rockfibre Private Limited continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        4.55      CARE B; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT  
                                   COOPERATING category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated April 21, 2020, placed the
rating of HI-Tec Rockfibre Private Limited under the 'issuer
non-cooperating' category as HI-Tec Rockfibre Private Limited had
failed to provide information for monitoring of the rating and had
not paid the surveillance fees for the rating exercise as agreed to
in its Rating Agreement. HI-Tec Rockfibre Private Limited continues
to be non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and an email dated March
14, 2021, March 24, 2021 and April 3, 2021 among others. 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.

HI-Tec Rockfibre Private Limited was incorporated in 2012 by Mr.
Mohan Lal Patel and Mr. Hira Lal Patel. Since its incorporation the
company is engaged in the business of manufacturing of rock wool at
Rajnandgaon, Chhattisgarh.


IDBI BANK: Moody's Affirms Ba2 Long Term Deposit Ratings
--------------------------------------------------------
Moody's Investors Service affirmed IDBI Bank Ltd's long-term
deposit and senior unsecured debt ratings at Ba2. At the same time,
Moody's has upgraded the IDBI's baseline credit assessment and
adjusted BCA to b1 from b2.

The outlook on the ratings remain stable as IDBI's improving
solvency metrics is offset by risks of lower government support.

RATINGS RATIONALE

Moody's affirmed IDBI's deposit and senior unsecured debt ratings
because of an increase in uncertainty in the level of extraordinary
support it may receive from the government of India, despite
significant improvements in IDBI's asset quality, capital and
quality of funding which led to an upgrade of the BCA. Uncertainty
around the level of extraordinary support has increased following
the announcement by the authorities of a planned divestment of
IDBI.

IDBI's asset quality will remain robust and better than peers in
India in the next 12 to 18 months. The provision coverage ratio
increased to 97% as of end of March 2021, from 91% at end March
2019, while the net NPL ratio declined to 2% as of end of March
2021, from 10.1% at end March 2019, after the bank fully recognized
and provided for its legacy problem loans in the corporate segment.
Both its provision coverage ratio and net NPL ratio compare well
with the other rated Indian banks' average of 78.4% and 2.8%
respectively.

Capital has strengthened with the core equity tier 1 ratio
increasing to 13.1% at end March 2021 compared to 10.6% a year
earlier.

Profitability has improved with the bank returning to profit after
5 years of losses with an ROA of 0.4% in the year ending March
2021.

The government has announced a plan to divest a majority stake in
the bank along with management control to strategic investors. As a
result, while Moody's continues to assume a very high level of
extraordinary support from the government, the rating uplift is
reduced to 2 notches from the 3 previously.

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

IDBI's ratings could be upgraded if it is able to maintain asset
quality and improve profitability from current levels.

IDBI's ratings could be downgraded if the improvements seen in
profitability over the last year do not sustain, driven by an
increase in credit costs and net interest margin contraction.

PRINCIPAL METHODOLOGY

The principal methodology used in these ratings was Banks
Methodology published in March 2021.

LIST OF AFFECTED RATINGS / ASSESSMENTS

Upgrades:

Issuer: IDBI Bank Ltd

Adjusted Baseline Credit Assessment, Upgraded to b1 from b2

Baseline Credit Assessment, Upgraded to b1 from b2

Affirmations:

Issuer: IDBI Bank Ltd

Short-term Counterparty Risk Assessment, Affirmed NP(cr)

Long-term Counterparty Risk Assessment, Affirmed Ba1(cr)

Short-term Foreign and Local Currency Counterparty Risk Ratings,
Affirmed NP

Long-term Foreign and Local Currency Counterparty Risk Ratings,
Affirmed Ba1

Short-term Foreign and Local Currency Deposit Ratings, Affirmed
NP

Long-term Foreign Currency Senior Unsecured Regular
Bond/Debenture, Affirmed Ba2, Outlook Remains Stable

Long-term Foreign and Local Currency Deposit Ratings, Affirmed
Ba2, Outlook Remains Stable

Issuer: IDBI Bank Ltd, DIFC Branch

Short-term Counterparty Risk Assessment, Affirmed NP(cr)

Long-term Counterparty Risk Assessment, Affirmed Ba1(cr)

Short-term Foreign and Local Currency Counterparty Risk Ratings,
Affirmed NP

Long-term Foreign and Local Currency Counterparty Risk Ratings,
Affirmed Ba1

Outlook Actions:

Issuer: IDBI Bank Ltd

Outlook, Remains Stable

Issuer: IDBI Bank Ltd, DIFC Branch

Outlook, Remains Stable

INDIA CARTONS: CARE Lowers Rating on INR10cr LT Loan to D
---------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
India Cartons (IC), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       10.00      CARE D; ISSUER NOT COOPERATING
   Facilities                      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 May 5, 2020, placed the
rating(s) of IC under the 'issuer non-cooperating' category as
India Cartons had failed to provide information for monitoring of
the rating. India Cartons continues to be noncooperative despite
repeated requests for submission of information through e-mails,
phone calls and an email dated March 21, 2021, April 5, 2021, April
10, 2021. In line with the extant SEBI guidelines, CARE has
reviewed the rating on the basis of the best available information
which however, in CARE's opinion is not sufficient to arrive at a
fair rating.

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

The ratings have been revised on account of irregularity in the
debt obligations of the entity as confirmed by the statutory
auditor of the firm.

India Cartons (IC) was established by Mr. C. Madanraj and his son,
Mr. M. Naresh Kumar on April 8, 2010 as a partnership concern in
Ambur, Tamil Nadu. The firm is engaged in manufacturing of
packaging material for the footwear industry. The main products
manufactured by IC include cartons, corrugated cartons and rigid
boxes. The entity sells its finished products to customers located
in Tamil Nadu, Karnataka and Indore. The major raw material being
duplex boards are procured from suppliers in Tamil Nadu and China
for finer quality. The manufacturing unit is also located in Ambur,
Tamil Nadu.


INDIA: US$27BB Pile of Debt Looms Over Country's New Bad Bank
-------------------------------------------------------------
Upmanyu Trivedi and Rahul Satija at Bloomberg News report that a
bad bank in India that's expected to launch this month may help
reduce one of the world's worst bad-loan piles but market
participants say it's a long path ahead.

The new institution, which is set to start operations by the end of
June, is likely to handle stressed debt worth 2 trillion rupees
($27 billion) over time, according to a BloombergQuint report. That
would be about a quarter of the nation's non-performing debt load.
By housing bad loans of many lenders under one roof, the entity
should help speed up decision-making and improve bargaining power
when resolving these assets.

But for India to overcome its struggles with bad debt and stabilize
the financial system of Asia's third-largest economy, more
fundamental problems with insolvency laws introduced in 2016 need
to be addressed, investors said, Bloomberg relays. Their confidence
in the country's bankruptcy reforms has been shaken as creditors'
recovery rates fall, delays in closing cases increase, and
liquidations exceed resolutions in the insolvency courts.

According to Bloomberg, market participants will be watching
whether the bad bank focuses on actually resolving the assets
rather than keeping them like a warehouse, and whether its team
includes appropriate industry and turnaround experts.

"The proposed bad bank is useful as a one-time clean-up exercise of
the bad loans that are pending resolution for years now," Bloomberg
quotes Raj Kumar Bansal, managing director at Edelweiss Asset
Reconstruction Co, as saying. "But it's not a long-term solution in
dealing with the stressed assets," he said, adding that bankruptcy
reform is key.

Less than one in 10 companies admitted in the insolvency courts is
getting resolved while a third are facing liquidation, Bloomberg
discloses citing data compiled by Insolvency and Bankruptcy Board
of India. The recoveries for financiers from the resolved cases
have also dropped to 39% of dues as of March from 46% a year
earlier. And if the top nine cases by recovery are excluded,
lenders received just 24% of dues, according to Macquarie Capital.

"India's bankruptcy reforms started off well but they have slowed
currently," Bloomberg quotes Nikhil Shah, managing director at
Alvarez & Marsal India, as saying. "Prolonged delays in
resolutions, lengthy court battles, and uncertainty of recoveries
post-approval of resolution plans are pushing many potential
investors away" from the bankruptcy process, he said.

Bloomberg relates that Shah expects the delays in resolutions to
worsen further unless the government and judiciary address some of
the primary issues, by for example increasing the number of judges
and investing in digital infrastructure to boost productivity.

For now, Indian banks will be happy to finally kick away some of
the stressed loans to the proposed entity, the report notes. The
sector's bad-loan ratio is set to almost double to 13.5% of total
advances by the end of September, India's central bank said in a
report published before the second wave of coronavirus infections
hit the country.

Bloomberg says lenders are also looking at two other recent
measures to speed up cleaning their books -- pre-packaged
insolvency and personal bankruptcy. The rules introduced in April
on ready-made insolvencies allow banks to negotiate settlement of
dues in small- and medium-sized firms to avoid court delays in
clearing bad loans in that sector, which is among the worst hit due
to the pandemic restrictions. Banks can also file simultaneous
bankruptcy cases against a defaulting company and its owners that
guaranteed the loans after a ruling by India's top court in May.

"Stressed loans have taken far too much management time across the
industry in the past couple of years," Prashant Kumar, chief
executive officer at Yes Bank Ltd., told Bloomberg. "This bad bank
will help shift focus from resolving soured loans to improving
credit growth."


KAMAKHYA TRADERS: CARE Keeps B- Debt Rating in Not Cooperating
--------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Kamakhya
Traders (KT) continues to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       10.00      CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT  
                                   COOPERATING category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated May 14, 2020, placed the
rating(s) of KT under the 'issuer noncooperating' category as KT
had failed to provide information for monitoring of the rating for
the rating exercise as agreed to in its Rating Agreement. KT
continues to be non-cooperative despite repeated requests for
submission of information through e-mails, phone calls and emails
dated April 19, 2021, April 9, 2021 and March 30, 2021. In line
with the extant SEBI guidelines, CARE has reviewed the rating on
the basis of the best available information which however, in
CARE's opinion is not sufficient to arrive at a fair rating.

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

The ratings take into account non-availability of information and
no due diligence conducted due to non-cooperation by Kamakhya
Traders with CARE'S efforts to undertake a review of the rating
outstanding. CARE views information availability risk as a key
factor in its assessment of credit risk.

Gorakhpur (Uttar Pradesh) based Kamakhya Traders (KT) was formed in
2001 as a partnership concern by Mr. Rajesh Kumar Singh, Ms Arti
Chand, Mr Arun Chand and Mr. C.P. Chand to share profit/loss in the
ratio of 10:20:25:45. KT is mainly engaged in the business of
trading of coking coal, however, it is also involved in trading of
steel and cement. The firm purchases coal domestically from Assam,
Kolkata and Gorakhpur while sells to steel, tyre manufacturing
companies and construction companies.

KASHIBAI SOLAR: CARE Lowers Rating on INR7cr LT Loan to B
---------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Kashibai Solar Energies (KSE), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        7.00      CARE B; 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 April 30,2020, placed the
rating(s) of KSE under the 'issuer noncooperating' category as
Kashibai Solar Energies had failed to provide information for
monitoring of the rating and had not paid the surveillance fees for
the rating exercise as agreed to in its Rating Agreement. Kashibai
Solar Energies continues to be non-cooperative despite repeated
requests for submission of information through e-mails, phone calls
and an email dated, March 16, 2021, March 26, 2021 and March 31,
2021 In line with the extant SEBI guidelines, CARE has reviewed the
rating on the basis of the best available information which
however, in CARE's opinion is not sufficient to arrive at a fair
rating.

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

The ratings have been revised on account of non-availability of
requisite information due to non-cooperation by of Kashibai Solar
Energies with CARE's effort to undertake a review of the
outstanding ratings as CARE views information availability risk as
key factor in its assessment of credit risk profile

Kashibai Solar Energies (KSE) was established in 2016 as a
partnership concern at Mudhol, Karnataka by Mr. Kallappa Nyamagowda
and Mr. Venkappa Nyamagouda. The company has set-up a 1 MW solar
photovoltaic (PV) power plant located in Malali village, Bagalkot
district of Karnataka. The project achieved commercial operational
from February, 2017. KSE has an entered into long-term power
purchase agreement with Hubli Electricity Supply Company Limited.


LEO ENTERPRISES: Ind-Ra Assigns 'B+' Issuer Rating, Outlook Stable
------------------------------------------------------------------
India Rating and Research (Ind-Ra) has assigned Leo Enterprises a
Long-Term Issuer Rating of 'IND B+'. The Outlook is Stable.

The instrument-wise rating actions are:

-- INR3 mil. Fund-based facilities assigned with IND B+/Stable/
     IND A4 rating;

-- INR10 mil. Proposed fund-based facilities* assigned with IND
     B+/Stable/IND A4 rating;

-- INR20 mil. Proposed term loan* assigned with IND B+/Stable
     rating; and

-- INR17 mil. Proposed non fund-based facilities* assigned with
     IND A4 rating.

*Unallocated

KEY RATING DRIVERS

The ratings are constrained by Leo's small scale of operations, as
indicated by revenue of INR24.6 million in FY21 (FY20: INR11.2
million). The firm's revenue more than doubled in FY21 due to an
increase in orders from new solar projects. Ind-Ra expects the
firm's revenue to rise slightly in FY22, backed by a stable order
book position of INR29 million (1.17x FY21 revenue) which will be
executed by March 2022.

Liquidity Indicator - Stretched: Leo's average maximum utilization
of the fund-based limits was about 19% for the eight months ended
May 2021. The cash flow from operations turned negative to INR2.07
million in FY21 (FY20: INR0.18 million) on account of its fund flow
from operations turning negative to INR5.98 million (INR1.6
million) due to an increase in the loans and advances. The firm's
working capital cycle shortened to 25 days in FY21 (FY20: 240 days)
due to nil inventory days (174 days). At FYE21, Leo had a cash
balance of INR0.64 million (FYE20: INR0.74 million) and the firm
did not avail of the Reserve Bank of India-prescribed debt
moratorium.

The ratings, however, are supported by Leo's strong EBITDA margin.
The margin contracted to 12% in FY21 (FY20: 19%) due to the firm's
execution of low-margin projects.  Its return on capital employed
stood at 18% in FY21 (FY20: 14%). Ind-Ra expects the EBITDA margin
to remain at the same level in FY22 due to similar level of order
execution.

The ratings are also supported by Leo's comfortable credit metrics
due to its low debt levels. The interest coverage (operating
EBITDA/interest coverage) improved to 5x in FY21 (FY20: 3.24x) due
to reduced interest expenses, while the net leverage deteriorated
to 2.2x (1.61x) due to an increase in other debt. Ind-Ra expects
the credit metrics to remain comfortable in the near-to-medium term
owing to the firm's continued low debt levels; the firm had
interest-free debt of INR6.7 million at FYE21 (FYE20: INR1.6
million) from the directors.

The ratings are also supported by the firm's promoters' over two
decades of experience in the industrial sector. A long track record
in the industrial sector and established relationships with
customers and suppliers will continue to support the business risk
profile.

RATING SENSITIVITIES

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

Negative: A decline in the scale of operations, leading to
deterioration in the credit metrics with the interest coverage
falling below 1.5x along with further deterioration in the
liquidity profile, on a sustained basis would lead to a negative
rating action.

COMPANY PROFILE

Incorporated in 2014, Leo Enterprises is managed by Narasimha
Murthy. The firm is engaged in the manufacturing, installing, and
commissioning of industrial machinery for industrial sectors like
defense, steel, marine, power, civil, and solar photo voltaic plant
installation. The firm is located in Visakhapatnam (Andhra
Pradesh).

LIBERTY OIL: Ind-Ra Lowers Long-Term Issuer Rating to 'D'
---------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded Liberty Oil
Mills Limited's (LOML) Long-Term Issuer Rating to 'IND D (ISSUER
NOT COOPERATING)' from 'IND B+ (ISSUER NOT COOPERATING). The issuer
did not participate in the rating exercise despite continuous
requests and follow-ups by the agency. Thus, the rating is based on
the best available information. Therefore, investors and other
users are advised to take appropriate caution while using the
rating. The rating will now appear as 'IND D (ISSUER NOT
COOPERATING)' on the agency's website.

The instrument-wise rating actions are:

-- INR7.12 bil. Non-fund-based working capital facility (Short-
     term) downgraded with IND D (ISSUER NOT COOPERATING) rating;
     and

-- INR1.30 bil. Fund-based working capital limits (Long-/short-
     term) downgraded with IND D (ISSUER NOT COOPERATING) rating.

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

KEY RATING DRIVERS

The downgrade reflects delays in debt servicing by LOML.

COMPANY PROFILE

LOML is a part of the Liberty group of companies. The company is
engaged in the refining and trading of edible oils. It also
manufactures clarified butter, interesterified vegetable oils and
fats, and bakery products. The company has a total annual capacity
of over 650,000 metric tons, with six processing facilities in
Shahapur, Thane. LOML has an established presence in western India
and management with experience of over two decades in the edible
oil business.

LOKESH INFRAPROJECT: CARE Keeps B- Debt Rating in Not Cooperating
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Lokesh
Infraproject Private Limited (LIPL) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       10.00      CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT  
                                   COOPERATING category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated March 23, 2020, placed the
rating(s) of LIPL under the 'issuer non-cooperating' category as
LIPL had failed to provide information for monitoring of the rating
as agreed to in its Rating Agreement. LIPL continues to be
non-cooperative despite repeated requests for submission of
information through emails, phone calls and a letter/email dated
June 8, 2021 and June 16, 2021 among others. In line with the
extant SEBI guidelines, CARE has reviewed the rating on the basis
of the best available information which however, in CARE's opinion
is not sufficient to arrive at a fair rating.

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

LIPL is a part of Lokesh Group, incorporated in 2011. LIPL is
mainly engaged in coal and copper mining activities spread across
Maharashtra &Madhya Pradesh. Besides LIPL, the group consists of
Lokesh Industrial Services Pvt. Ltd. which is primarily engaged in
material handling services.

M G KITCHENWARE: CARE Lowers Rating on INR7.00cr LT Loan to B-
--------------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of M G
Kitchenware (MGK), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        7.00      CARE B-; 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 April 28,2020, placed the
rating(s) of MGK under the 'issuer noncooperating' category as M G
Kitchenware had failed to provide information for monitoring of the
rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. M G Kitchenware
continues to be noncooperative despite repeated requests for
submission of information through e-mails, phone calls and an email
dated, March 15, 2021, March 24, 2021 and March 29, 2021 In line
with the extant SEBI guidelines, CARE has reviewed the rating on
the basis of the best available information which however, in
CARE's opinion is not sufficient to arrive at a fair rating.

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

The ratings have been revised on account of non-availability of
requisite information due to non-cooperation by of M G Kitchenware
with CARE's effort to undertake a review of the outstanding ratings
as CARE views information availability risk as key factor in its
assessment of credit risk profile.

Karnataka based, M G Kitchenware (MGK) was established in 2007 as a
proprietorship firm by Mr. Manoj Kumar. MGK is engaged in the
manufacturing of kitchenware items like Pressure cooker, Aluminum
plates, Steel plates, LPG gas stove etc. The firm purchases
materials like steel, aluminum, Pressure cooker handles, etc. from
the suppliers located in Delhi, Mumbai and Bangalore and sell its
final products to the distributors located in Karnataka, Kerala,
Andhra Pradesh and Tamil Nadu. The current installed capacity for
manufacturing of kitchenware products is 60,000 pieces per month.


MALLELLA STONE: CARE Lowers Rating on INR5.00cr LT Loan to B-
-------------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Mallella Stone International (MSI), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       5.00       CARE B-; 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 April 30,2020, placed the
rating(s) of MSI under the 'issuer non-cooperating' category as
Mallella Stone International had failed to provide information for
monitoring of the rating and had not paid the surveillance fees for
the rating exercise as agreed to in its Rating Agreement. Mallella
Stone International continues to be non-cooperative despite
repeated requests for submission of information through e-mails,
phone calls and an email dated, March 16, 2021, March 26, 2021 and
March 31, 2021 In line with the extant SEBI guidelines, CARE has
reviewed the rating on the basis of the best available information
which however, in CARE's opinion is not sufficient to arrive at a
fair rating.

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

The ratings have been revised on account of non-availability of
requisite information due to non-cooperation by of Mallella Stone
International with CARE's effort to undertake a review of the
outstanding ratings as CARE views information availability risk as
key factor in its assessment of credit risk profile.

Mallella Stone International (MSI) was established in the year
2015, as a Partnership firm by Mr. M. Pawan Kumar and his spouse
Ms. Latha Preethi. The firm is into quarrying of stone and granite
processing business. The firm has its registered office at
Basavanagudi, Bangalore. The firm sells its products in Karnataka
to the local retailers. The firm has two of its quarry located in
Karnataka.

MDH TRUCKS: CARE Keeps C Debt Ratings in Not Cooperating Category
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of MDH Trucks
Private Limited (MDHTPL) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       10.00      CARE C; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT  
                                   COOPERATING category

   Short Term Bank       2.00      CARE A4; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated May 5, 2020 placed the
rating(s) of MDHTPL under the 'issuer non-cooperating' category as
MDH Trucks Private Limited had failed to provide information for
monitoring of the rating for the rating exercise as agreed to in
its Rating Agreement. MDH Trucks Private Limited continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and mails dated March 21,
2021, April 10, 2021 and among others. In line with the extant SEBI
guidelines, CARE has reviewed the rating on the basis of the best
available information which however, in CARE's opinion is not
sufficient to arrive at a fair rating.

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

Andhra Pradesh based, MDH Trucks Private Limited (MDHTPL) was
incorporated in the year 2011 as a Private Limited Company by
Mr.S.MD.Naveed (Managing Director) and Mrs. S.Feroza (Director).
The operation of the company started in the year 2012. The company
is an authorized dealer of Tata Motors Limited. The Company is
engaged in sale of new vehicles and spare parts as well as
servicing of vehicles. The vehicles sold by MDHTPL are small
commercial vehicles (Tata Ace, Tata Magic, Tata xenon etc.), medium
and heavy vehicles (Star bus, City ride, LPT'S etc.).


ORANGE CITY WATER: CARE Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Orange City
Water Private Limited (OCWPL) continues to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      211.46      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Short Term Bank      15.00      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated March 23, 2020, placed the
rating(s) of OCWPL under the 'issuer non-cooperating' category as
OCWPL had failed to provide information for monitoring of the
rating as agreed to in its Rating Agreement and has not paid the
fees. OCWPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails, phone calls
and a letter/email dated May 06, 2021 and May 19, 2021 among
others. In line with the extant SEBI guidelines, CARE has reviewed
the rating on the basis of the best available information which
however, in CARE's opinion is not sufficient to arrive at a fair
rating.

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

Incorporated in the year March 2011, Orange City Water Private
Limited (OCWPL), is a special purpose vehicle (SPV) promoted by
Vishvaraj Environment Private Limited (wholly owned subsidiary of
Vishvaraj Infrastructure Limited; and Veolia Water (India) Private
Limited (VWIPL, wholly owned subsidiary of Veolia Water AMI) for
implementing (24x7) potable water supply to the city of Nagpur on
build-operate-transfer (BOT) basis under Jawaharlal Nehru National
Urban renewal mission (JNNURM)scheme.


PLASMA METAL: CARE Keeps D Debt Rating in Not Cooperating
---------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Plasma
Metal Processing Private Limited (PMPPL) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       31.72      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated March 23, 2020 placed the
rating(s) of PMPPL under the 'issuer non-cooperating' category as
PMPPL had failed to provide information for monitoring of the
rating as agreed to its Rating Agreement. PMPPL continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, and phone calls dated Feb 26, 2021,
and June 17, 2021 among others. In line with the extant SEBI
guidelines, CARE has reviewed the rating on the basis of the best
available information which however, in CARE's opinion is not
sufficient to arrive at a fair rating.

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

Incorporated in the year 2011, PMPL is engaged in the business for
manufacturing of plasma coated rebars, wire rods and wires. The
commercial operation started from April 2019. The manufacturing
facility of the company is located at Butibori, Nagpur with an
installed capacity to manufacture 60000 tons of rebars, wire rods
and wires per annum.


POGGENAMP NAGARSHETH: Ind-Ra Affirms 'D' Long-Term Issuer Rating
----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed Poggenamp
Nagarsheth Powertronics Private Limited's (PANPPL) Long-Term Issuer
Rating at 'IND D'.

The instrument-wise rating actions are:

-- INR250 mil. Fund-based working capital limit (Long-term/Short-
     term) affirmed with IND D rating;

-- INR220 mil. Non-fund based working capital limits (Short-term)

     affirmed with IND D rating; and

-- INR57.3 mil. (reduced from INR72 mil.) Term loan limits (Long-
     term) due on March 2023 affirmed with IND D rating.

KEY RATING DRIVERS

The ratings reflect PANPPL's continued delays in debt servicing
since February 2020, due to tight liquidity. UCO Bank ('IND
AA-'/Negative; the company's banker) has informed the agency that
it has classified the company's account as a non-performing asset,
due to delays in debt servicing.

RATING SENSITIVITIES

Positive: Timely debt servicing for at least three consecutive
months will be positive for the ratings.

COMPANY PROFILE

PANPPL is a company established in 1982 and promoted by Shri
Gauttam Nagarsheth & Gaurang Nagarsheth. The company manufactures
electrical motor components such as motor stampings and
laminations, rotors & stators etc, and has an installed capacity of
15,000 metric tons per annum located at Kheda (Ahmedabad).


R.S. DREAM: CARE Lowers Rating on INR12.00cr LT Loan to D
---------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of R.S.
Dream Land Private Limited (RSDLPL), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       12.00      CARE D; ISSUER NOT COOPERATING
   Facilities                      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 April 1, 2020, placed the
rating of RSDLPL under the 'issuer non-cooperating' category as
RSDLPL had failed to provide information for monitoring of the
rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. RSDLPL continues to
be noncooperative despite repeated requests for submission of
information through e-mails, phone calls and an email dated
February 15, 2021, February 25, 2021, March 7, 2021 among others.
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 rating has been revised on account of ongoing delays in the
term debt servicing of the company.

Raipur (Chhattisgarh) based R.S. Dream Land Private Limited (RSDPL)
was incorporated in January 2006. Earlier the company was doing the
marketing for other real estate companies. Since March 2014, the
company has started its own real estate project. The company is
currently developing its first project 'Empressia Elite' commonly
known as E2 with an aggregate project cost of Rs.26.55 crore with a
saleable area of 1.66 lakh square feet. The project is located in
the prime location of Raipur, Chhattisgarh. The construction work
of the project is given to G.K. Construction and RSDPL is focusing
mainly on marketing aspects. The promoters have satisfactory
business experience of more than two decade in real estate
industry.


RAGHAVA PROJECT: CARE Lowers Rating on INR3.25cr LT Loan to D
-------------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Raghava Project Constructions Private Limited (RPCPL), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       3.25       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category and Revised from
                                   CARE C; Stable

   Short Term Bank      4.00       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category and Revised from
                                   CARE A4

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated February 3, 2021 placed the
rating(s) of RPCPL under issuer Non-Cooperation category. In line
with the extant SEBI guidelines, CARE has reviewed the rating on
the basis of the best available information which however, in
CARE's opinion is not sufficient to arrive at a fair rating.

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

Detailed description of the key rating drivers

The revision in the ratings assigned to bank facilities of Raghava
Project Constructions Private Limited is on account of ongoing
delay in servicing the debt obligation in COVID loans. The company
has availed interest deferment on working capital loans from March
2020 to August 2020.

Andhra Pradesh based, Raghava Project Constructions Private Limited
(RPCPL) was incorporated and started commercial operations in the
year 2012. The company was promoted by Mr. B. Raghava Rao and Ms.
B. Sudha Rani who are directors of the company. Mr. B.Raghava Rao,
the Managing Director of the company, also established Raghava &
Co., a partnership concern in 2004 along with Ms.B.Sudha Rani which
was engaged in construction business. The company has its
registered office located at Vijayawada, Andhra Pradesh. RPCPL is
engaged in road works construction. The company majorly gets the
contracts from government organizations through tenders. The
company has its projects in the states of Andhra Pradesh and
Orissa.


RAJASTHAN HYBRIDS: CARE Lowers Rating on INR5.00cr LT Loan to B+
----------------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Rajasthan Hybrids Private Limited (RHPL), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        5.00      CARE B+; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT  
                                   COOPERATING category and
                                   Revised from CARE BB-; Stable

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated March 31, 2020, placed the
rating of RHPL under the 'issuer non-cooperating' category as RHPL
had failed to provide information for monitoring of the rating for
the rating exercise as agreed to in its Rating Agreement. RHPL
continues to be non-cooperative despite repeated requests for
submission of information through e-mails, phone calls and an email
dated February 24, 2021, March 01, 2021 and March 06, 2021. In line
with the extant SEBI guidelines, CARE has reviewed the rating on
the basis of the best available information which however, in
CARE's opinion is not sufficient to arrive at a fair rating.

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

The revision in the rating assigned to the bank facilities of RHPL
is on account of non-availability of update on operational and
financial performance of the company for 9MFY21.

Kota (Rajasthan) based Rajasthan Hybrid Private Limited (RHPL) was
incorporated in 1992 as a private limited company by Mr. Ramesh
Chander Ralhan (RC Ralhan) and Mr. Naresh Chander Ralhan (NC
Ralhan) to provide services in the telecom industry. Currently,
RHPL provides Operation and Maintenance (O&M) services to telecom
services providers and also manages service resource base which
will further convert on task base. The company also provides
services to Government of Rajasthan, Department of Science &
Technology for site maintenance of village panchyat samiti level of
state remote sensing application center. RHPL has O&M subcontract
agreement with Nokia Network Private Limited (NNPL) for sites of
BSNL of Gujarat circle which is renewable on yearly basis.

RAJIV PETROCHEMICALS: Ind-Ra Affirms 'BB' Long-Term Issuer Rating
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed Rajiv
Petrochemicals Private Limited's (RPPL) Long-Term Issuer Rating at
'IND BB'. The Outlook is Stable.

The instrument-wise rating actions are:

-- INR320 mil. Fund-based working capital limit affirmed with IND

     BB/Stable rating; and

-- INR230 mil. Non-fund based working capital limit affirmed with
     IND A4+ rating.

KEY RATING DRIVERS

The affirmation reflects RPPL's continued medium scale of
operations, as indicated by revenue of INR1,580.80 million in
FY21(FY20: INR968.66 million). Ind-Ra expects the revenue to
increase in FY22 due to a likely growth in demand for polymers in
the market. The revenue increased in FY21 due to the execution of
higher number of orders during the year. The figures for FY21 are
provisional in nature.

The ratings also factor in RPPL's modest credit metrics due to the
modest margins.  Ind-Ra expects credit metrics to improve in FY22
due to a likely rise in the absolute EBITDA. In FY21, the gross
interest coverage (operating EBITDA/gross interest expense)
improved to 2.32x (FY20: 1.68x), as interest expenses declined on
account of lower utilization of the working capital limits. The net
financial leverage (adjusted net debt/operating EBITDA), however,
deteriorated to 5.97x in FY21 (FY20: 4.58x) on account of an
increase in total debt to INR295.89 million (INR237.10 million).

The ratings reflect RPPL's modest EBITDA margin due to the trading
nature of business. Ind-Ra expects the margin to remain modest in
FY22, led by volatility in the raw material prices. The margin fell
to 2.76% in FY21 (FY20: 4.43%), due to an increase in cost of
traded material. The ROCE stood at 8% in FY21 (FY20: 7%).

Liquidity Indicator – Stretched: RPPL's average maximum
utilization of fund-based limits was 42.30% for the 12 months ended
May 2021.The company's cash flow from operations turned negative at
INR82.64 million in FY21 (FY20: INR192.93 million) on account of
increased working capital requirements. Also, RPPL's free cash flow
turned negative at INR88.43 million in FY21 (FY20: INR194.90
million). The net cash cycle improved to 85 days in FY21 (FY20: 108
days) due to an increase in the creditor period to 40 days (4
days). Additionally, the company had unencumbered cash of INR35.06
million in FY21 (FY20: INR40.71 million). Furthermore, the company
does not have any capital market exposure and relies on banks and
financial institutions to meet its funding requirements. RPPL had
not availed the Reserve Bank of India-prescribed debt moratorium.

The ratings are, however, supported by the promoter's decade-long
experience in the petrochemical trading business.

RATING SENSITIVITIES

Negative: Any decline in the scale of operations along with
deterioration in the liquidity position could be negative for the
ratings.

Positive: An increase in the scale of operations along with an
improvement in the liquidity profile and overall credit metrics,
with the interest coverage exceeding 2.5x, on a sustained basis,
could be positive for the ratings.

COMPANY PROFILE

Incorporated in October 1993 by Rajiv Vastupal Mehta, RPPL is part
of the Gujarat-based Rajiv group. It is engaged in the trading of
poly vinyl chloride resins, low-density polyethylene and high
density polyethylene polymers and polyester films.

RASHI DALL: CARE Keeps C Debt Rating in Not Cooperating Category
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Rashi Dall
Mills (RDM) continues to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       7.64       CARE C; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT  
                                   COOPERATING category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated April 24, 2020, placed the
rating of RDM under the 'issuer noncooperating' category as RDM had
failed to provide information for monitoring of the rating and had
not paid the surveillance fees for the rating exercise as agreed to
in its Rating Agreement. RDM continues to be non-cooperative
despite repeated requests for submission of information through
e-mails, phone calls and an email dated March 10, 2021, March 20,
2021, March 30, 2021 among others.  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.

Ranchi (Jharkhand) based, RDM was established as a partnership firm
in 2006 by Mr. Hari Shankar Agarwal and Mr. Rajesh Kumar Kanodia
for setting up a processing unit for pulses. The firm started its
commercial operation from October 2010 with an aggregate installed
capacity of 60 metric ton per day. Since its inception, the firm
has been engaged in milling and processing of pulses.


RELISHAH EXPORT: Ind-Ra Affirms 'BB' Issuer Rating, Outlook Stable
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed Relishah Export's
Long-Term Issuer Rating at 'IND BB'. The Outlook is Stable.

The instrument-wise rating actions are:

-- INR55.1 mil. (reduced from INR140 mil.) Fund-based post-
     shipment demand loan/usance foreign bill purchased/foreign
     bill purchased affirmed with IND A4+ rating;

-- INR69.6 mil. (reduced from INR180 mil.) Fund-based packing
     credit/packing credit in foreign currency* affirmed with
     IND A4+ rating; and

-- INR2 mil. Non-fund-based inland bank guarantees affirmed with
     IND A4+ rating.

*Includes standby limit of INR19.6 mil.

KEY RATING DRIVERS

The affirmation reflects Relishah's continued medium scale of
operations. The firm's revenue declined to INR2,359.43 million in
FY21 (FY20: INR2,486.65 million) owing to COVID-19 led operational
disruptions. The firm achieved revenue of INR734.64 million in
2MFY22 (2MFY21:INR280 million) and as of mid-June 2021, it had
orders in hand of INR300 million to be executed within a month.
Based on the improvement in the operating environment and increased
order flows from the existing and new customers, Ind-Ra expects the
firm's revenue to increase in FY22. FY21 financials are provisional
in nature.

The ratings factor in the firm's moderate customer concentration.
All the firm's customers are overseas and the top 10 customers
contributed about 62% of the total revenue in FY21 (FY20: 57%;
FY19: 52%). The management aims to mitigate this customer
concentration risk by adding new customers.

The ratings also factor in the partnership structure of the firm,
the high competition, and the cyclical nature of the cotton trading
industry, as well as the risk of any adverse change in regulatory
policies.

The ratings, however, are supported by the firm's healthy EBITDA
margin. Relishah's margin improved marginally to 4.2% in FY21
(FY20: 4.11%), on account of an increase in the export incentive to
INR43.37 million (INR42.01 million). Relishah's return on capital
employed stood at 21% in FY21 (FY20: 19%).

The ratings also factor in Relishah's comfortable credit metrics.
Despite a marginal fall in the operating EBITDA to INR100.2 million
in FY21 (FY20: INR102.2 million), the firm's gross interest
coverage (operating EBITDA/gross interest expense) improved to 4.8x
in FY21 (FY20: 3.5x) owing to fall in the interest cost as a result
of lower utilization of the working capital limit. However, the net
leverage (total adjusted net debt/operating EBITDA) deteriorated
slightly to 2.11x in FY21 (FY20: 2.01x)  due to a fall in the cash
and cash equivalents to INR0.72 million (INR8.06  million).

Liquidity Indicator- Adequate: The average maximum utilization of
working capital facilities stood low at 6.5% for the 12 months
ended May 2021. The cash flow from operations increased to
INR130.75 million in FY21 (FY20: INR110.03 million) on account of
an increase in the fund flow from operations to INR82.4 million
(INR33.2 million). The cash and cash equivalents stood at INR0.72
million at FYE21 (FY20: INR8.06 million). At end-May 2021, the firm
had unutilized working capital lines of INR90.70 million, and
Ind-Ra believes this will be sufficient to meet the incremental
working capital requirement in the near term. Relishah does not
have any term debt. The firm's networking capital cycle improved
slightly to 49 days in FY21 (FY20: 54 days) on account of a
decrease in the debtors days to 49 days (53 days). Relishah did not
avail of the Reserve Bank of India-prescribed moratorium.

The ratings continue to derive comfort from the founders'
three-decade-long experience in the cotton trading industry.

RATING SENSITIVITIES

Positive: An increase in the scale of operations and profitability,
while maintaining the overall credit metrics, along with an
adequate liquidity position and/or conversion in the business
structure to corporate from the partnership, could lead to positive
rating action.

Negative: A reduction in the scale of operations or profitability,
leading to the interest coverage reducing below 1.7x, on a
sustained basis, could be negative for the ratings.

COMPANY PROFILE

Established in 1987, Relishah is a registered partnership firm
engaged in textile trading activities. The firm is into exports of
primarily cotton yarn, raw cotton, and fabrics.

RSKS AUTOMOTIVES: Ind-Ra Assigns B+ Issuer Rating, Outlook Stable
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has assigned RSKS Automotives
Private Limited (RSKS) a Long-Term Issuer Rating of 'IND B+'. The
Outlook is Stable.

The instrument-wise rating actions are:

-- INR120 mil. Fund-based limits assigned with IND B+/Stable/IND
     A4 rating; and

-- INR44 mil. Term loan due on January 2029 assigned with IND B+/

     Stable rating.

KEY RATING DRIVERS

The ratings reflect RSKS' small scale and nascent stage of business
with operations commencing from January 2021. At March 31, 2021,
the company recorded a revenue of INR231 million and a weak EBITDA
margin of 1.1%. The company expects to achieve over INR1,200
million in FY22 driven by strong demand in the local region and has
already sold over 150 vehicles in April-May 2021. The management
has informed the agency that it plans to capture 40% of the Gwalior
(Madhya Pradesh) passenger vehicle market in FY22, aided by limited
competition in the region. The agency expects the company to post
improved margin in the near term owing to an improvement in the
operating leverage. Ind-Ra believes strong macroeconomic growth
expectations (albeit on a lower base in FY21) along with the
expectations of an average monsoon from the Indian Metrological
Department and a good Rabi harvest may assist demand for the sector
in FY22. RSKS' ability to ramp up operations and capture the market
remains a monitorable. FY21 financials are provisional in nature.

The ratings also reflect the company's modest credit metrics. Its
gross interest coverage (operating EBITDA/gross interest expense)
stood at 1x in FY21. The agency expects the company's high net
leverage (net debt/operating EBITDA) to remain high in FY22-FY23
due to its small scale of operations. However, the agency expects
the same to improve gradually as the company's operations
stabilize.

The ratings are constrained by RSKS' high geographical
concentration, as its operations are concentrated in Gwalior. This
renders the company vulnerable to any weakening in the region's
economy, political disturbances, and natural calamities.

The ratings are also constrained by the intensely competitive
nature of automobile dealership business and the cyclical nature of
the auto industry and its susceptibility to macro-economic factors.


Liquidity Indicator - Stretched: Ind-Ra expects RSKS liquidity to
remain stretched over the near term, given the high inventory
requirement in the car sales segment, along with the advance
payments to be made to the suppliers for procurement. RSKS plans to
maintain an inventory of INR80 million-90 million in FY22 and as of
April 30, 2021, it had an inventory of 40 cars amounting to
INR23.44 million. The company enjoys a working capital facility to
the tune of INR120 million and its average utilization was 69% for
the four months ended May 2021. Ind-Ra expects the cash flow from
operations to be negative in FY22 due to an increase in the
inventory levels. RSKS had unutilized cash balance of INR12.5
million at FYE21. As informed by the management, funds to the tune
of INR10 million have already been infused by the promoters in FY22
and the management expects further infusion of INR40 million during
the year. Ind-Ra takes comfort from the promoters' ability to
infuse funds, in case of any requirement.

The ratings, however, are supported by the extensive experience of
the promoters in various industries such as hospitality, education,
oil & gas and fast-moving consumer goods.

RATING SENSITIVITIES

Negative: Any weakening of the credit metrics and deterioration in
the liquidity profile could lead to a negative rating action.

Positive: An increase in the scale of operations, along with the
gross interest coverage exceeding 1.5x and an improvement in the
liquidity profile could lead to a positive rating action.

COMPANY PROFILE

Incorporated in 2018, RSKS Automotives Private Limited has a
dealership for Maruti Suzuki Arena cars and owns a showroom in
Gwalior (Madhya Pradesh). It commenced operations from January 2021
onwards. RSKS is a part of the Malwa Group, Indore which has its
presence in the education, fast-moving consumer goods, hospitality
and oil & gas segments.

SHAH AGRI: CARE Keeps B+ Debt Rating in Not Cooperating Category
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Shah Agri
Impex Pvt Ltd (SAIPL) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       15.00      CARE B+; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT  
                                   COOPERATING category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated March 24, 2020, placed the
rating of SAIPL under the 'issuer non-cooperating' category as
SAIPL had failed to provide information for monitoring of the
rating. SAIPL continues to be noncooperative despite repeated
requests for submission of information through e-mails, phone calls
and a letter/email dated February 27, 2021, May 1, 2021 and June
17, 2021 among others. In line with the extant SEBI guidelines,
CARE has reviewed the rating on the basis of the best available
information which however, in CARE's opinion is not sufficient to
arrive at a fair rating.

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

Shah Agri Impex Private Limited (SAIP)L is incorporated in October
11, 2012 by the well established promoter Mr. Dilip Shantilal Shah.
Mr. Dilip Shah and his family is in the business from last three
decades of Dall Milling & trading based out in Nagpur, Maharashtra.
SAIPL trades in pulses such as toor, moong, peas apart from agro
commodities like maize & soya, deoiled cakes and also provides
warehousing services for their storage. SAIPL is having installed
capacity of 8 tons per hour production capacity based on orders
received approximately 4-8 tons per hour and storage capacity at
factory premises is 750 tonnes and at warehouse 10,000 MT.


SMART VISIONS: CARE Keeps B- Debt Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Smart
Visions (SV) continues to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       8.38       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT  
                                   COOPERATING category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated April 27, 2020, placed the
rating(s) of SV under the 'issuer not cooperating' category as SV
had failed to provide information for monitoring of the rating and
had not paid the surveillance fees for the rating exercise as
agreed to in its Rating Agreement. SV continues to be
non-cooperative despite repeated requests for submission of
information through phone calls and e-mails dated March 23, 2021
till April 2, 2021In line with the extant SEBI guidelines, CARE has
reviewed the rating on the basis of the best available information
which however, in CARE's opinion is not sufficient to arrive at a
fair rating.

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

The ratings have been revised on account of non-availability of
requisite information due to non-cooperation by Smart Visions with
CARE's effort to undertake a review of the outstanding ratings as
CARE views information availability risk as key factor in its
assessment of credit risk profile.

Smart Visions (SV) is a Bangalore based firm engaged in commercial
offset printing activities. SV was promoted by Mr. Vishwanath
Bharat as a proprietorship concern in the year 2000. SV is engaged
majorly in printing orders for posters, banners, danglers,
magazines etc. SV has installed seven offset printing machines with
installed capacity of 100000 posters per machine per day. The
capacity utilization of the machines is based on the orders the
firm receives it from its customers.


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

The instrument-wise rating actions are:

-- INR50.0 mil. Fund-based limits migrated to non-cooperating
    category with IND B+ (ISSUER NOT COOPERATING)/IND A4 (ISSUER
    NOT COOPERATING) rating; and

-- INR247.5 mil. Non-fund-based limits migrated to non-
     cooperating category with IND A4 (ISSUER NOT COOPERATING)
     rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
June 18, 2020. Ind-Ra is unable to provide an update, as the agency
does not have adequate information to review the ratings.

COMPANY PROFILE

Established in February 2010, Svarrnim Infrastructures is engaged
in undertakes civil construction work mainly for government
organizations. The company has its registered office in Delhi.

TIRUMALA AGRO: CARE Keeps B- Debt Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Shree
Tirumala Agro Industries (STAI) continues to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       6.00       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT  
                                   COOPERATING category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated April 29, 2020, placed the
rating of STAI under the 'issuer non-cooperating' category as STAI
had failed to provide information for monitoring of the rating and
had not paid the surveillance fees for the rating exercise as
agreed to in its Rating Agreement. STAI continues to be
non-cooperative despite repeated requests for submission of
information through phone calls and emails dated March 15, 2021
till March 25, 2021. In line with the extant SEBI guidelines, CARE
has reviewed the rating on the basis of the best available
information which however, in CARE's opinion is not sufficient to
arrive at a fair rating.

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

The ratings have been revised on account of non-availability of
requisite information due to non-cooperation by Shree Tirumala Agro
Industries with CARE's effort to undertake a review of the
outstanding ratings as CARE views information availability risk as
key factor in its assessment of credit risk profile.

Karnataka based, Shree Tirumala Agro Industries (STAI) was
established in the year 2011 as a partnership firm. The rice
milling unit of the firm is located at Raichur, Karnataka with the
area covering two acres. The main raw material, paddy, is purchased
from the local farmers located in and around Raichur. The firm
sells the rice majorly in the state of Karnataka. The rice milling
unit of the firm has an installed capacity of 4 metric ton of rice
per day.


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

The instrument-wise rating action is:

-- INR100.0 mil. Fund-based limits migrated to non-cooperating
     category with IND B+ (ISSUER NOT COOPERATING)/IND A4 (ISSUER
     NOT COOPERATING) rating.

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
June 5, 2020. Ind-Ra is unable to provide an update, as the agency
does not have adequate information to review the ratings.

COMPANY PROFILE

Ghaziabad-based Shree Tribhuvan Ispat manufactures mild steel
ingots used for manufacturing mild steel bars. The company's
manufacturing unit, located at Bazpur, Uttarakhand, has an
installed capacity of 25,000 metric tons per annum.

VALLABH PITTIE: CARE Cuts Rating on INR331.79cr LT Loan to D
------------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of Shri
Vallabh Pittie Industries Limited (SVPIL), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      331.79      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category and Revised from
                                   CARE B; Stable

Detailed Rationale & Key Rating Drivers

CARE has been seeking information from SVPIL to monitor the
rating(s) vide e-mail communications dated March 20, 2021, March
30, 2021, April 9, 2021, May 31, 2021, June 2, 2021, June 4, 2021
and June 8, 2021. However, despite CARE's repeated requests, the
company has not provided the requisite information for monitoring
the ratings. In line with the extant SEBI guidelines, CARE has
reviewed the rating on the basis of the best available information
which however, in CARE's opinion is not sufficient to arrive at a
fair rating. The rating on SVPIL's bank facilities will now be
denoted as 'CARE D; ISSUER NOT COOPERATING'.

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

The revision in the rating of SVPIL factors in the delays in debt
servicing obligations as per publicly available information.
Detailed description of the key rating drivers

Key Rating weaknesses

* Delay in debt servicing: As per publicly available information,
SVPIL has delays in its debt servicing obligations.

ShriVallabh Pittie Industries Ltd (SVPIL) is a Special Purpose
Vehicle (SPV) formed by ShriVallabh Pittie Group for setting up a
100,000-spindle yarn manufacturing unit at Jhalawar, Rajasthan. The
project got commissioned on July 22, 2016. The Group is presently
spearheaded by Mr Chirag Pittie. ShriVallabh Pittie Group has a
presence in the industry with manufacturing capacity of 101,000
spindles in sister concern Platinum Textiles Ltd is engaged in the
business of manufacturing of cotton, polyester and polyester &
cotton blended yarn. Besides, PTL also uses another 112,000
spindles on job-work/lease basis mainly in the state of Tamil
Nadu.


VARDHMAN ROLLER: CARE Keeps B- Debt Rating in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Vardhman
Roller Flour Mills Private Limited (VRFM) continues to remain in
the 'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       31.90      CARE B-; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated May 6, 2020, continues to
place the rating of VRFM under the 'Issuer Non-Cooperating'
category as the company had failed to provide the requisite
information required for monitoring of the rating as agreed to in
its rating agreement. Vardhman Roller Flour Mills Private Limited
continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated April 11, 2021 &
March 22, 2021. In line with the extant SEBI guidelines, CARE has
reviewed the rating on the basis of the best available information
which however, in CARE's opinion is not sufficient to arrive at a
fair rating.

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

The ratings on Vardhman Flour Mills Private Limited's bank
facilities will now be denoted as CARE B-; Stable; ISSUER NOT
COOPERATING.

Vardhman Roller Flour Mills Private Limited (VRFM), originally
promoted by Mr. Ashok Kumar Jain was incorporated on Feb 27, 1997.
Later on Mr. Rajesh Kumar Jain on March 03, 1997 & Mr. Manoj Kumar
Gupta on March 16, 2010 respectively were appointed as other
Directors of company. The company is engaged in manufacturing of
maida, suji, atta & bran and sells with branded name Double Kalash.
It has two manufacturing facilities with one located at Mohkampur
Industrial Area and other at Faridpur, Bareilly. VRFM have total
installed capacity of 75000MT as on November 1, 2017 for
manufacturing atta, maida, choker (barn), suji and others.


YOGESH CHOUDHARY: CARE Keeps C Debt Rating in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Yogesh
Choudhary (YC) continues to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       5.18       CARE C; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT  
                                   COOPERATING category

   Long Term/Short      9.82       CARE C; Stable/CARE A4;
   Term Bank                       ISSUER NOT COOPERATING;
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated May 4, 2020, placed the
ratings of YC under the 'issuer noncooperating' category as YC had
failed to provide information for monitoring of the rating for the
rating exercise as agreed to in its Rating Agreement. YC continues
to be non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and emails dated March 20,
2021, March 30, 2021 and April 9, 2021. In line with the extant
SEBI guidelines, CARE has reviewed the rating on the basis of the
best available information which however, in CARE's opinion is not
sufficient to arrive at a fair rating.

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

Bharatpur-based (Rajasthan) Yogesh Choudhary (YC) was formed in
year 1996 by Mr. Yogesh Choudhary as a partnership firm along with
Mrs. Sunita Choudhary to share profit or loss in equal ratio. YC is
engaged in road construction and is registered as “AA” class
approved contractor (Highest in the scale of AA to E) indicating
eligibility to bid for contracts of any amount. The firm undertake
projects for road construction from Public Works Department (PWD)
and Rajasthan State Road Development and Construction Corporation
(RSRDC) and it has executed projects in the area of Alwar, Bayana
and Hindaun etc.


YORK PRINT: Ind-Ra Affirms BB+ LT Issuer Rating, Outlook Positive
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed York Print Private
Limited's (YPPL) Long-Term Issuer Rating at 'IND BB+'. The Outlook
is Positive.

The instrument-wise rating actions are:

-- INR273.4 mil. (increased from INR267.64 mil.) Long-term loan
     October 2025 affirmed with IND BB+/Stable rating;

-- INR355.5 mil. Fund-based working capital limit affirmed with
     IND BB+/Stable rating; and

-- INR75 mil. (reduced from INR81 mil.) Non-fund-based working
     capital limit affirmed with IND A4+ rating.

The affirmation reflects YPPL's modest credit metrics and continued
stretch in liquidity profile in FY20 and FY21.

KEY RATING DRIVERS

The affirmation reflects north-east India based YPPL's continued
medium scale of operations. Its revenue declined to INR1,798.6
million in FY21 (FY20: INR1,853.6 million; FY19: INR2,015.6
million) due the COVID-19 led nationwide lockdown. The company also
witnessed a significant decline in revenue in FY20 due to the
operational disruptions caused by widespread protests in Assam
against the Citizen Amendment Act. FY21 financials are provisional
in nature.

The ratings reflect YPPL's modest EBITDA margins which contracted
to 10.4% in FY20 (FY19 : 11.9%)  on account of an increase in raw
material prices. Its return on capital employed stood at 7.1% in
FY20 (FY19: 10.4%). The ratings factor in the company's modest
credit metrics. Its net leverage (total adjusted net debt/operating
EBITDAR) deteriorated to 4.37x in FY20 (FY19: 3.61x) and interest
coverage (operating EBITDAR/gross interest expense + rents) to
2.04x (2.64x) due to a decrease in the absolute EBITDA to INR192
million (INR240 million) and an increase in the total debt to
INR965.4 million (INR963.13 million). Ind-Ra estimates the
company's net leverage to have deteriorate further in FY21 on
account of a steeper fall in the absolute EBITDA due to lower
revenue.

Liquidity Indicator - Stretched: YPPL's average maximum utilization
of the fund-based limits was around 98.8% of sanctioned limits over
the 12 months ended May 2021. The company utilized 99.8% of its
sanctioned limits in May 2021 despite adhoc temporary overdraft
facility of INR14 million, which was repaid on June 9, 2021. Ind-Ra
estimates the company's net cash cycle to have further elongated in
FY21 (FY20: 118 days; FY19: 99 days) due to a stretch in payments
from its customers. The company availed of the Reserve Bank of
India-prescribed debt moratorium during March-May 2020.

The ratings are also constrained by the company's unhedged forex
transactions; the company exports 9%-10% of its total sales to its
subsidiary in Bangladesh, thereby exposing it to forex risk.

The ratings, however, benefit from a strong and diversified client
base. YPPL's counterparty default risk is mitigated by its
association with reputed Indian companies Moreover, the company has
diversified presence across sectors such as fast-moving consumer
goods, pharma, textile and liquor. However, a major portion of its
revenue comes from the fast-moving consumer goods sector, where the
demand for end-products is likely to remain stable, despite any
economic slowdown.

RATING SENSITIVITIES

Negative: Further deterioration in the EBITDA margins, leading to
further deterioration in the liquidity profile and the credit
metrics, on a sustained basis will be negative for the ratings.

Positive: Any improvement in the liquidity profile along with
comfortable credit metrics, on a sustainable basis, will be
positive for the ratings.

COMPANY PROFILE

YPPL is a packaging company incorporated in 2002. It manufactures
folding box cartons at its units in Meghalaya and Assam. It offers
a wide range of cartons, which is complemented by print finishes
such as stamping, foiling, embossing and varnishing.



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

JAPAN: Mulls Easing Out-Of-Court Debt Settlement Requirements
-------------------------------------------------------------
The Japan Times reports that the government is considering measures
to make it easier for companies and lenders to settle debts out of
court, including relaxation of requirements for such settlements.

The government hopes that the measures will help facilitate
economic recovery and efforts to improve productivity, the report
says.

Meanwhile, the banking industry is concerned about a possible
increase in pressure to waive debts, The Japan Times reports.

According to The Japan Times, the balance of loans extended to
companies stood at JPY622 trillion at the end of 2020, up JPY52
trillion from a year earlier.

Despite the novel coronavirus crisis, Japanese corporate
bankruptcies remain at low levels thanks to government-funded
financial assistance to businesses, such as interest-free,
unsecured loans, the report says.

As debts in the corporate sector expand, business bankruptcies and
debt overhang at banks become bigger risks to the economy.

To deal with the problem, the government included measures to make
it easier to use out-of-court debt settlement procedures in an
action plan for its growth strategy adopted last week, according to
The Japan Times relates.

When resolving debts piling up at struggling companies, it is
easier to maintain their corporate value and speedily move on to
rehabilitation if the debts are settled out of court than through
civil rehabilitation or other court-mediated procedures.

At present, only around 1,000 out-of-court debt settlement cases
are processed annually through small and midsize enterprise
revitalization support councils, The Japan Times discloses.

Once the COVID-19 crisis is over, moves to liquidate and
rehabilitate ailing companies are expected to increase. Measures to
facilitate debt consolidation will be even more important.

The government aims to devise drastic debt settlement facilitation
measures mainly for large companies.

For small businesses, the government is considering having the
banking industry revise its debt consolidation guidelines to ease
requirements for out-of-court settlements, including an extension
of a grace period for eliminating negative net worth to five years
from the current three years, The Japan Times notes.

The Japan Times says the industry is concerned as an easing of the
requirements is likely to lead to an increase in the amounts of
loans lenders have to forgive.

Such a step "runs counter" to efforts to cut the impact of the
coronavirus crisis on the economy, with which the industry
cooperates by joining government-backed financial assistance
programs, according to an industry source.

In a time of both misinformation and too much information, quality
journalism is more crucial than ever, adds The Japan Times.


SOFTBANK GROUP: S&P Assigns 'BB+' Rating to New Senior Unsec. Notes
-------------------------------------------------------------------
S&P Global Ratings assigned its 'BB+' issue credit rating to
SoftBank Group Corp.'s (BB+/Stable/--) proposed senior unsecured
notes. The proposed U.S.-dollar denominated notes and
euro-denominated notes differ in maturities and base interest
rates.

The issue rating on the proposed notes is equal to the long-term
issuer credit rating on the company. This is because we estimate
the company's priority debt ratio (the sum of an issuer's total
secured debt, including margin loans divided by the issuer's total
debt) is significantly below 50%. That is the threshold for us to
consider notching down the issue rating to reflect risk arising
from structural subordination of the debt.

The proposed notes have a limited impact on SoftBank's credit
quality. This is because the proceeds will be used to partly repay
debt and we believe the company's loan-to-value ratio (as we
calculate it) will remain at about 25%-30% in the next one to two
years, a level commensurate with the rating. The ratio was
approximately 22%-24% as of the end of March 2021.

S&P said, "Our issuer credit rating on SoftBank reflects its
considerable assets under management. It also reflects the
company's management of an investment portfolio with high
creditworthiness and liquidity. On the other hand, its rating is
constrained by the limited diversification of its portfolio, which
includes large assets and is concentrated in the technology and
telecommunications sectors. The rating also reflects SoftBank's
heavy debt burden and weak financial standing, which are
consequences of its aggressive financial policy."


TOSHIBA CORP: Board of Directors Issues Statement
-------------------------------------------------
Toshiba Corporation on June 25, 2021, announced that the newly
elected Board of Directors of Toshiba has issued a statement.

The full text of the statement is as follows:

"The newly elected Board of Directors of Toshiba Corporation
acknowledges and respects the outcome of the vote at the Company's
Annual General Meeting of Shareholders on June 25, 2021. Listening
to shareholders' concerns and responding to them is a critical
responsibility of the Board.

Toshiba is in the middle of a period of considerable change,
focused around an improvement in corporate governance, greater
emphasis on capital management, increase in shareholder returns,
and the rebuilding of trust and support from our shareholders. The
Board of Directors has undergone considerable change as a result of
the independent investigation report published on June 10th, 2021
and the voting at the Annual General Meeting this afternoon.

Today, the Board unanimously elected Satoshi Tsunakawa as Interim
Chairperson of the Board. Mr. Tsunakawa brings to this role a deep
understanding of Toshiba's strategic capabilities and competitive
advantages, as well as an objective view of its challenges and
opportunities. Mr. Tsunakawa will provide stability for our
customers and employees while enabling the Board to advance its
commitment to constructive change.

The Board has resolved on a new composition of all board
committees, focused on the skills and capabilities of the current
members of the board. In the coming weeks, the Nomination Committee
and other members of the Board and management will engage with
Toshiba's major stakeholders—our shareholders, management,
employees and customers—to consider any additional changes that
may be needed to achieve the best possible outcome for Toshiba's
stability, governance and future profitability.

There are several key areas to highlight as we move forward.

* Toshiba's employees and customers are critical to our long-term
success as a company. We will seek to create stability and
confidence in the future and increase our level of engagement and
transparency.

* We will look to identify a successor to our current Interim
Chairman and CEO, Satoshi Tsunakawa. We will consider both internal
candidates as well as external candidates in search of the highest
possible capability given Toshiba's large portfolio of businesses.
We will solicit the help of one or more global executive search
firms as we consider additional candidates to serve on the board.

* We will expand the scope of Toshiba's newly formed Strategic
Review Committee ("SRC"). The SRC will undertake a full review of
the current assets of the company and work with the management team
to devise a business plan for the future that is focused on
creating growth in total shareholder returns through share buybacks
and dividends. The ability to create value for the long term will
also require thoughtful and disciplined investments oriented around
growth in areas capable of generating high returns on invested
capital.

* The SRC will also engage with potential strategic and financial
investors in the Company or in its subsidiaries and various
businesses. We believe it is important to engage with this investor
base to understand what alternatives might be available to our
shareholders and the related implications for our other
stakeholders. We will approach this engagement with an open mind
and as a benchmark of comparison against Toshiba's own ability to
generate profitable growth and high shareholder returns.

* We will undertake a review of the corporate culture of Toshiba
and look for ways to improve management and employee morale. It is
critical that we avoid a repeat of any of the past scandals and
financial problems Toshiba has suffered. We will consider
opportunities to create a greater "ownership culture" across the
company.

We are looking forward to a brighter future for Toshiba, one of
Japan's most important companies. Lastly, we would like to express
our appreciation to our outgoing Chairman, Osamu Nagayama, for his
time commitment and support of Toshiba over the past year."

                        About Toshiba Corp.

Toshiba Corporation (TYO:6502) -- http://www.toshiba.co.jp/--
manufactures and markets electrical and electronic products. The
Company's products include digital products such as PCs and
televisions, NAND flash memories, and system LSIs (large-scale
integrated), as well as social infrastructures such as power
generators, medical equipment, and home appliances.

As reported in the Troubled Company Reporter-Asia Pacific on  March
26, 2021, S&P Global Ratings has raised by one notch to 'BB+' its
long-term issuer credit ratings on Japan-based capital goods and
diversified electronics company Toshiba Corp. At the same time, S&P
affirmed its 'B' short-term issuer credit and commercial paper
program ratings. The outlook on the long-term issuer credit rating
is stable.


TOSHIBA CORP: Shareholders Oust Chairman in Rare Investor Victory
-----------------------------------------------------------------
Takashi Mochizuki and Yuki Furukawa at Bloomberg News report that
Toshiba Corp. shareholders voted to oust Chairman of the Board
Osamu Nagayama in a rare triumph for activist investors seeking
fundamental reform after years of scandal and allegations of
mismanagement.

Bloomberg relates that the surprise decision on Nagayama, the
74-year-old outside director some investors opposed publicly, came
after a contentious meeting with shareholders that extended for
nearly three hours. His departure marks a high point in the
months-long campaign by largest shareholder Effissimo Capital
Management Pte. to probe the company's governance. An investigation
prompted by its efforts uncovered alleged collusion with top
government officials to influence last year's board selection.

On Friday night [June 25], Toshiba named Chief Executive Officer
Satoshi Tsunakawa as interim chair and said it will consider
internal and external candidates for a successor.

While investors hailed the vote as a promising sign of change, the
larger task of resuscitating the ailing 145-year-old giant remains
ahead, Bloomberg says. Beyond finding ways to revive revenue
growth, the new leadership will have to rebuild shareholder trust.

Once a storied name in Japan, Toshiba has faded dramatically after
years of management missteps, the report says. It paid a record
fine in an accounting scandal and then lost billions on a bungled
foray into nuclear power. The conglomerate invented flash memory
three decades ago, but was forced to sell most of its prized chip
business in 2018 because of losses in its nuclear-power operation.
That deal led to an infusion of cash -- but also a large contingent
of more vocal shareholders.

One open question for Toshiba is the future of Kioxia Holdings
Corp., its former memory-chip division in which it still holds the
biggest stake. The company has sought to go public via an initial
public offering, Bloomberg News has reported.

Toshiba may have a chance to improve company governance, revamp its
mid-term plan and accelerate a planned IPO of memory-chip arm
Kioxia on the surprise ouster of chairman Osamu Nagayama by
shareholders, Bloomberg says.

According to Bloomberg, Nagayama's ouster is highly unusual for
Japan's typically staid and conservative corporate culture. For
decades, corporations like Toshiba have been run with what critics
say is little regard for the interests of private shareholders. But
activist investors have gone from largely impotent onlookers to
influential voices in the space of just a few years, and the
company's annual general meeting was a new milestone. They have
increasingly been flexing their muscle, as corporate governance
reforms promoting shareholder value have meant management can no
longer so easily dismiss external pressure.

"We hope that today's AGM marks the beginning of a new era at
Toshiba - one that will be marked by a focus on value creation,
transparency to all stakeholders and a renewed commitment to
building trust with shareholders," 3D Investment Partners Pte., one
of the biggest holders of Toshiba stock, said in a statement,
Bloomberg relays. 3D welcomed the changes to the board and
indicated its optimism about the firm's future potential.

Bloomberg notes that the report looking into Toshiba's governance
marked a rare public account of Japan's bureaucrats allegedly
coordinating with a private company to exert control over foreign
shareholders. The 139-page document by three independent
investigators outlined how Toshiba management allegedly worked hand
in hand with public officials in an attempt to sway the outcome of
last year's AGM. Among the officials named were Prime Minister
Yoshihide Suga.

Tsunakawa, who recently became Toshiba CEO after the departure of
under-pressure former leader Nobuaki Kurumatani, said ahead of the
vote that he endorsed Nagayama's handling of the current crisis and
reiterated his faith in the board chair, according to Bloomberg.
Investors were not convinced that enough was being done to address
the serious allegations levied against the company and several of
them voiced passionate critiques during the meeting.

"Given Toshiba's stature as a blue-chip company and the seniority
of the government officials and management involved, the vote is a
message from domestic investors that malfeasance and shareholder
oppression is a matter of the past and will no longer be
tolerated," Bloomberg quotes Justin Tang, head of Asia research at
United First Partners in Singapore, as saying. "This result is a
sign of a paradigm shift in Japan and will only embolden activist
investors whether foreign or domestic."

Nagayama, a former chairman of Chugai Pharmaceutical Co. who also
served as an outside director for Sony Group Corp., has said
repeatedly that his wish was to take responsibility by resolving
the crisis, Bloomberg relays. Toshiba will also start looking for
candidates to fill other vacant seats on the board. It decided
against nominating two current board members after the report,
Bloomberg notes.

                         About Toshiba Corp.

Toshiba Corporation (TYO:6502) -- http://www.toshiba.co.jp/--
manufactures and markets electrical and electronic products. The
Company's products include digital products such as PCs and
televisions, NAND flash memories, and system LSIs (large-scale
integrated), as well as social infrastructures such as power
generators, medical equipment, and home appliances.

As reported in the Troubled Company Reporter-Asia Pacific on  March
26, 2021, S&P Global Ratings has raised by one notch to 'BB+' its
long-term issuer credit ratings on Japan-based capital goods and
diversified electronics company Toshiba Corp. At the same time, S&P
affirmed its 'B' short-term issuer credit and commercial paper
program ratings. The outlook on the long-term issuer credit rating
is stable.




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

AIQ PTE: Creditors' Meetings Set for July 8
-------------------------------------------
AIQ Pte. Ltd will hold a meeting for its creditors on July 8, 2021,
at 11:00 a.m., via videoconference.

Agenda of the meeting includes:

   a) to receive an update on matters attended to by the
      Liquidators to-date;

   b) to receive an update on potential avenue of recovery of
      assets;

   c) to nominate additional members to the Committee of
      Inspection; and

   d) any other matters relevant to the winding up of the Company.


CG PURCHASING: Creditors' Proofs of Debt Due July 28
----------------------------------------------------
Creditors of CG Purchasing Pte Ltd, Kok Chang Engineering Pte Ltd,
and Kok Chang Marine Services Pte Ltd (in voluntary liquidation)
are required to file their proofs of debt by July 28, 2021, to be
included in the company's dividend distribution.

The company's liquidator is:

         Thio Khiaw Ping Kelvin
         Chan Li Shan
         c/o Ardent Corporate Recovery Pte Ltd
         30 Cecil Street #15-08 Prudential Tower
         Singapore 049712


CONTINENTAL PLATFORM: Court Enters Wind-Up Order
------------------------------------------------
The High Court of Singapore entered an order on June 18, 2021, to
wind up the operations of Continental Platform Pte. Ltd.

PTT International Trading Pte Ltd filed the petition against the
company.

The company's liquidators are:

         Lim Soh Yen
         Lynn Ong Bee Ling
         c/o Acutus Advisory Pte Ltd
         133 New Bridge Road
         #24-01/02, Chinatown Point
         Singapore 059413




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

SSANGYONG MOTOR: Major Stake Officially Put Up For Sale
-------------------------------------------------------
The Korea Herald reports that a controlling stake in SsangYong
Motor has officially been put up for auction as the financially
ailing company undergoes court receivership, the sale's lead
manager said June 28.

EY Hanyoung, the accounting firm in charge of the sale, released a
notice of sale announcing that it was receiving letters of intent
from potential buyers until July 30, the report says.

Under the sales plan, it will then run preliminary reviews of the
bids from Aug. 2-27.  A preferred bidder is expected to be chosen
in September.

According to The Korea Herald, local law firm Shin & Kim is also
participating in the sale process in a consortium with EY
Hanyoung.

SsangYong Motor, which is 75 percent owned by Indian automotive
company Mahindra & Mahindra, has been under court receivership here
since April, as it failed to obtain a rollover of 165 billion won
($147 million) worth of loans from creditors.

Over the past few months, Mahindra & Mahindra has sought to divest
from the ailing South Korean carmaker, citing its global
reorganization plan amid the COVID-19 pandemic.

Several companies have been suggested as potential bidders, the
report notes.

HAAH Automotive Holdings, a US vehicle importer, is one of them. It
has had already talks with Mahindra & Mahindra, but the two sides
failed to clinch a deal, according to the report.

Other potential bidders include a Korean electric bus maker, Edison
Motors, small electric vehicle maker K Pop Motors, and a local
private equity fund, according to reports.

Ssangyong Motor has debt obligations amounting to some KRW700
billion, The Korea Herald discloses.

Kicking off the share sale procedure, SsangYong Motor asked the
Seoul Bankruptcy Court to postpone the submission date for its
rehabilitation plan to Sept. 1, The Korea Herald adds.

Earlier in the month, SsangYong Motor's management and its labor
union agreed to send half of their 4,800 employees on rotating
unpaid leave for up to two years in an effort to attract a buyer
and cut costs, the report recalls. They also agreed to a reduction
in wages and to avoid labor disputes in order to stay afloat.

                        About Ssangyong Motor

Headquartered in Kyeonggi-Do, South Korea, Ssangyong Motor Co. Ltd.
engages in the manufacture and sale of automobiles. The Company
mainly manufactures and sells recreational vehicles (RVs), sports
utility vehicles (SUVs), multi-purpose vehicles (CDVs) and
passenger cars under the brand name of rexton sports, korando,
korando sports, korando turismo, tivoli, tivoli air and others. The
Company also provides automobile parts. The Company distributes its
products within domestic market and to overseas markets.

Mahindra acquired a 70% stake in SsangYong for KRW523 billion in
2011 and now holds a 74.65% stake in the carmaker.

SsangYong Motor Co. on Dec. 21, 2020, filed for court receivership
as it struggles with snowballing debts amid the COVID-19 pandemic,
according to Yonhap News Agency. The decision comes after SsangYong
Motor failed to pay KRW60 billion (US$54.8 million) worth of debts
to its three creditor banks.

On April 15, 2021, SsangYong Motor Co. was placed under court
receivership as its Indian parent Mahindra & Mahindra Ltd. failed
to attract an investor amid the prolonged COVID-19 pandemic and its
financial status is further worsening.

Under court receivership, SsangYong's survival depends on whether
there will be a new investor to acquire a streamlined SsangYong
after debt settlement and other restructuring efforts, Yonhap
said.




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

[*] BOND PRICING: For the Week June 21, 2021 to June 25, 2021
-------------------------------------------------------------
Issuer                   Coupon    Maturity    Currency    Price
------                   ------    --------    --------    -----


  AUSTRALIA
  ---------

ACN 113 874 712 PTY LTD   13.25      02/15/18      USD      0.15
ACN 113 874 712 PTY LTD   13.25      02/15/18      USD      0.15
CLEAN SEAS SEAFOOD LTD     8.00      11/18/22      AUD      1.05
CLIME CAPITAL LTD/FUND     6.25      11/30/21      AUD      0.98
GLENNON SMALL COS LTD      5.60      09/30/30      AUD     10.40
VIRGIN AUSTRALIA HOLDIN    8.08      03/05/24      AUD      7.55
VIRGIN AUSTRALIA HOLDIN    8.25      05/30/23      AUD      7.85
VIRGIN AUSTRALIA HOLDIN    8.00      11/26/24      AUD      8.22
VIRGIN AUSTRALIA HOLDIN    8.13      11/15/24      USD      9.23
VIRGIN AUSTRALIA HOLDIN    7.88      10/15/21      USD      9.25
VIRGIN AUSTRALIA HOLDIN    7.88      10/15/21      USD      9.25
VIRGIN AUSTRALIA HOLDIN    8.13      11/15/24      USD      9.25


   CHINA
   -----

AKESU DISTRICT GREEN IN    4.09      03/11/23      CNY     39.51
AKESU DISTRICT GREEN IN    4.09      03/11/23      CNY     39.68
AKESU XINCHENG ASSET IN    6.40      04/20/22      CNY     20.24
AKESU XINCHENG ASSET IN    6.40      04/20/22      CNY     40.01
ALTAY PREFECTURE STATE-    4.85      01/22/23      CNY     38.70
ALTAY PREFECTURE STATE-    4.85      01/22/23      CNY     39.04
AN SHUN YU KUN REAL EST    5.48      11/10/21      CNY     39.68
ANHUI HUAAN FOREIGN ECO    7.30      07/13/21      CNY     70.01
ANHUI JIANGNAN INDUSTRI    4.76      07/08/23      CNY     59.25
ANHUI JIANGNAN INDUSTRI    4.76      07/08/23      CNY     59.31
ANJI NORTHWEST DEVELOPM    5.90      07/18/23      CNY     59.39
ANJI NORTHWEST DEVELOPM    5.90      07/18/23      CNY     59.58
ANLU CONSTRUCTION DEVEL    5.45      06/15/23      CNY     59.11
ANLU CONSTRUCTION DEVEL    5.45      06/15/23      CNY     59.47
ANQING ECONOMIC&TECHNOL    4.09      03/09/23      CNY     38.87
ANQING ECONOMIC&TECHNOL    4.09      03/09/23      CNY     39.96
ANQING URBAN CONSTRUCTI    6.01      04/27/22      CNY     40.00
ANQING URBAN CONSTRUCTI    6.01      04/27/22      CNY     40.55
ANQIU HUAAN STATE OWNED    7.00      09/14/24      CNY     75.00
ANSHUN CITY CONSTRUCTIO    7.30      09/15/24      CNY     68.49
ANSHUN CITY CONSTRUCTIO    7.30      09/15/24      CNY     73.65
ANSHUN STATE-RUN ASSETS    4.48      07/18/23      CNY     55.82
ANSHUN STATE-RUN ASSETS    4.48      07/18/23      CNY     56.53
ANSHUN XIXIU CITY INVES    4.70      11/22/23      CNY     55.41
ANSHUN XIXIU CITY INVES    4.70      11/22/23      CNY     58.20
BAOJI INVESTMENT GROUP     5.05      04/18/24      CNY     60.50
BAOJI INVESTMENT GROUP     5.05      04/18/24      CNY     60.97
BAOTOU CITY SCIENCE EDU    6.48      03/25/22      CNY     19.96
BAOTOU CITY SCIENCE EDU    6.48      03/25/22      CNY     25.50
BAOYING CITY CONSTRUCTI    4.50      03/24/23      CNY     39.01
BAOYING CITY CONSTRUCTI    4.50      03/24/23      CNY     40.14
BAYAN ZHUOER HETAO WATE    8.54      03/31/22      CNY     13.54
BAYAN ZHUOER HETAO WATE    8.54      03/31/22      CNY     14.80
BAZHONG STATE-OWNED ASS    8.50      04/25/21      CNY     20.00
BAZHONG STATE-OWNED ASS    5.13      12/02/22      CNY     38.77
BAZHONG STATE-OWNED ASS    5.13      12/02/22      CNY     40.00
BEIJING FUTURE SCIENCE     4.20      08/13/22      CNY     40.20
BEIJING FUTURE SCIENCE     4.20      08/13/22      CNY     40.32
BEIJING SHIJINGSHAN STA    6.08      08/18/21      CNY     20.07
BEIJING SHIJINGSHAN STA    6.08      08/18/21      CNY     23.87
BEIPIAO CITY CONSTRUCTI    6.70      03/25/23      CNY     35.90
BEIPIAO CITY CONSTRUCTI    6.70      03/25/23      CNY     40.80
BENGBU URBAN INVESTMENT    5.80      04/13/24      CNY     61.35
BENGBU URBAN INVESTMENT    5.80      04/13/24      CNY     61.83
BIJIE CONSTRUCTION INVE    6.50      01/28/22      CNY     19.45
BIJIE CONSTRUCTION INVE    6.50      01/28/22      CNY     20.10
BIJIE DEXI CONSTRUCTION    5.10      12/05/23      CNY     54.67
BIJIE DEXI CONSTRUCTION    4.60      11/17/23      CNY     57.34
BIJIE DEXI CONSTRUCTION    4.60      11/17/23      CNY     58.14
BIJIE DEXI CONSTRUCTION    5.10      12/05/23      CNY     58.55
BIJIE QIXINGGUAN DISTRI    7.60      09/08/24      CNY     68.00
BINZHOU ZHANHUA DISTRIC    4.93      11/29/23      CNY     58.09
BINZHOU ZHANHUA DISTRIC    4.93      11/29/23      CNY     58.09
BINZHOU ZHONGHAI VENTUR    6.65      04/13/22      CNY     20.00
BINZHOU ZHONGHAI VENTUR    6.65      04/13/22      CNY     20.01
BOHAI LEASING CO LTD       7.00      09/10/21      CNY     46.00
BOHAI LEASING CO LTD       7.00      06/20/21      CNY     59.00
BOILL HOLDING GROUP CO     7.50      06/07/21      CNY     64.01
BORALA MONGOL AUTONOMOU    5.77      08/26/22      CNY     38.50
BORALA MONGOL AUTONOMOU    5.77      08/26/22      CNY     39.91
BOZHOU URBAN CONSTRUCTI    4.78      04/14/23      CNY     39.46
BOZHOU URBAN CONSTRUCTI    4.78      04/14/23      CNY     40.06
BOZHOU YIJU REAL ESTATE    4.82      10/27/21      CNY     49.49
BOZHOU YIJU REAL ESTATE    4.82      10/27/21      CNY     49.58
BRILLIANCE AUTO GROUP H    5.80      03/20/24      CNY     54.80
BRILLIANCE AUTO GROUP H    5.40      09/14/23      CNY     55.80
BRILLIANCE AUTO GROUP H    6.30      09/14/23      CNY     56.93
BRILLIANCE AUTO GROUP H    5.80      11/05/23      CNY     59.80
BRILLIANCE AUTO GROUP H    5.80      06/17/24      CNY     60.78
BRILLIANCE AUTO GROUP H    5.30      10/23/20      CNY     68.50
BRILLIANCE AUTO GROUP H    6.50      01/22/22      CNY     68.50
BRILLIANCE AUTO GROUP H    6.50      03/13/22      CNY     68.50
BRILLIANCE AUTO GROUP H    6.50      04/18/22      CNY     68.50
BRILLIANCE AUTO GROUP H    6.50      06/03/22      CNY     68.50
BRILLIANCE AUTO GROUP H    6.30      09/14/23      CNY     68.50
BRILLIANCE AUTO GROUP H    5.80      11/05/23      CNY     68.50
CANGNAN COUNTY STATE OW    5.58      11/11/22      CNY     40.00
CANGNAN COUNTY STATE OW    5.58      11/11/22      CNY     40.46
CEFC SHANGHAI INTERNATI    4.08      09/09/21      CNY     60.00
CEFC SHANGHAI INTERNATI    4.98      12/10/20      CNY     61.29
CHANG DE DING LI INDUST    4.30      03/10/23      CNY     39.97
CHANG DE DING LI INDUST    4.30      03/10/23      CNY     39.97
CHANGCHUN MODERN AGRICU    7.00      07/25/21      CNY     19.50
CHANGCHUN MODERN AGRICU    7.00      07/25/21      CNY     19.92
CHANGDE DE YUAN SHANTY     5.33      09/13/23      CNY     67.35
CHANGDE URBAN CONSTRUCT    3.59      01/12/23      CNY     39.87
CHANGDE URBAN CONSTRUCT    3.59      01/12/23      CNY     40.00
CHANGGE JINCAI PUBLIC A    7.10      04/19/24      CNY     60.17
CHANGGE JINCAI PUBLIC A    7.10      04/19/24      CNY     61.89
CHANGJI URBAN CONSTRUCT    4.24      11/18/23      CNY     56.95
CHANGJI URBAN CONSTRUCT    4.24      11/18/23      CNY     58.10
CHANGLE COUNTY NEWTOWN     5.18      12/16/22      CNY     39.45
CHANGLE COUNTY NEWTOWN     5.18      12/16/22      CNY     40.41
CHANGSHA COUNTY XINGCHE    7.90      03/25/22      CNY     25.73
CHANGSHA COUNTY XINGCHE    7.90      03/25/22      CNY     25.73
CHANGSHA ECONOMIC & TEC    8.45      04/13/22      CNY     15.47
CHANGSHA ECONOMIC & TEC    4.78      03/03/24      CNY     60.50
CHANGSHA ECONOMIC & TEC    4.78      03/03/24      CNY     61.26
CHANGSHA FURONG CITY DE    3.88      01/26/23      CNY     40.13
CHANGSHA FURONG CITY DE    3.88      01/26/23      CNY     40.67
CHANGSHA METRO GROUP CO    6.20      04/23/23      CNY     31.03
CHANGSHA METRO GROUP CO    6.20      04/23/23      CNY     32.11
CHANGSHA METRO GROUP CO    5.97      04/03/25      CNY     62.86
CHANGSHA METRO GROUP CO    5.40      07/14/25      CNY     70.00
CHANGSHA METRO GROUP CO    4.10      12/21/25      CNY     70.00
CHANGSHA METRO GROUP CO    4.10      12/21/25      CNY     70.50
CHANGSHA METRO GROUP CO    5.40      07/14/25      CNY     72.57
CHANGSHA TIANXIN CITY C    4.20      11/06/22      CNY     39.96
CHANGSHA TIANXIN CITY C    4.20      11/06/22      CNY     40.00
CHANGSHA TIANXIN CITY C    3.43      08/08/23      CNY     59.13
CHANGSHA TIANXIN CITY C    3.43      08/08/23      CNY     59.35
CHANGSHA YUHUA JINGKAI     4.17      09/06/23      CNY     59.18
CHANGSHA YUHUA JINGKAI     4.17      09/06/23      CNY     59.20
CHANGSHA YUHUA URBAN CO    3.80      01/28/23      CNY     39.92
CHANGSHA YUHUA URBAN CO    3.80      01/28/23      CNY     39.98
CHANGSHU BINJIANG URBAN    6.39      09/11/21      CNY     20.00
CHANGSHU BINJIANG URBAN    6.39      09/11/21      CNY     20.16
CHANGSHU DONGNAN ASSET     6.53      03/26/22      CNY     20.52
CHANGSHU DONGNAN ASSET     6.53      03/26/22      CNY     27.32
CHANGSHU TRANSPORTATION    7.00      04/29/21      CNY     20.00
CHANGSHU TRANSPORTATION    7.00      04/29/21      CNY     27.00
CHANGXING URBAN CONSTRU    6.00      12/03/21      CNY     19.00
CHANGXING URBAN CONSTRU    6.00      12/03/21      CNY     20.27
CHANGZHOU PUBLIC HOUSIN    6.64      07/02/21      CNY     19.98
CHANGZHOU PUBLIC HOUSIN    6.64      07/02/21      CNY     19.98
CHANGZHOU TIANNING CONS    6.48      02/12/22      CNY     20.00
CHANGZHOU TIANNING CONS    6.48      02/12/22      CNY     20.47
CHANGZHOU XINGANG ECONO    3.42      10/20/23      CNY     58.83
CHANGZHOU XINGANG ECONO    3.42      10/20/23      CNY     59.60
CHANGZHOU ZHONGLOU ECON    3.64      10/26/23      CNY     59.42
CHANGZHOU ZHONGLOU ECON    3.64      10/26/23      CNY     59.48
CHAOHU URBAN TOWN CONST    6.50      04/30/22      CNY     40.46
CHAOHU URBAN TOWN CONST    6.50      04/30/22      CNY     42.10
CHENGDU ECONOMIC & TECH    6.90      05/30/21      CNY     20.03
CHENGDU ECONOMIC & TECH    6.90      05/30/21      CNY     26.00
CHENGDU GARDEN WATER CI    6.15      05/03/23      CNY     59.37
CHENGDU GARDEN WATER CI    6.15      05/03/23      CNY     59.61
CHENGDU PIDU DISTRICT S    6.95      04/01/22      CNY     20.37
CHENGDU PIDU DISTRICT S    6.95      04/01/22      CNY     28.83
CHENGDU SHUZHOU CITY CO    6.58      05/26/22      CNY     40.30
CHENGDU SHUZHOU CITY CO    6.58      05/26/22      CNY     40.50
CHENGDU XINGCHENGJIAN I    6.00      03/20/22      CNY     20.00
CHENGDU XINGCHENGJIAN I    6.00      03/20/22      CNY     20.09
CHENGDU XINGJIN ECOLOGI    3.65      10/13/23      CNY     58.63
CHENGDU XINGJIN ECOLOGI    3.65      10/13/23      CNY     59.54
CHENGDU XINKAIYUAN URBA    7.43      08/12/21      CNY     20.15
CHENGDU XINKAIYUAN URBA    7.43      08/12/21      CNY     21.00
CHENGDU XINKAIYUAN URBA    5.29      04/27/23      CNY     58.80
CHENGDU XINKAIYUAN URBA    5.29      04/27/23      CNY     59.22
CHENGFA INVESTMENT GROU    6.87      04/30/21      CNY     20.00
CHENGFA INVESTMENT GROU    6.87      04/30/21      CNY     21.37
CHENZHOU BAIFU INVESTME    6.54      08/28/21      CNY     19.88
CHENZHOU BAIFU INVESTME    4.96      03/22/26      CNY     61.46
CHENZHOU BAIFU INVESTME    4.96      03/22/26      CNY     61.47
CHENZHOU FUCHENG HIGH T    4.73      01/22/23      CNY     39.50
CHENZHOU FUCHENG HIGH T    4.73      01/22/23      CNY     39.76
CHENZHOU INDUSTRY INVES    6.45      01/23/22      CNY     20.02
CHENZHOU INDUSTRY INVES    6.45      01/23/22      CNY     28.60
CHENZHOU WENLV INDUSTRY    5.34      11/28/23      CNY     58.46
CHENZHOU XINTIAN INVEST    5.38      03/08/26      CNY     61.59
CHENZHOU XINTIAN INVEST    5.38      03/08/26      CNY     61.72
CHIBI LANTIAN URBAN CON    4.38      08/10/23      CNY     59.19
CHIBI LANTIAN URBAN CON    4.38      08/10/23      CNY     59.68
CHINA FORTUNE LAND DEVE    7.40      03/24/21      CNY     25.13
CHINA FORTUNE LAND DEVE    7.20      04/18/21      CNY     25.13
CHINA FORTUNE LAND DEVE    5.60      09/10/21      CNY     25.13
CHINA FORTUNE LAND DEVE    5.80      05/23/22      CNY     25.13
CHINA FORTUNE LAND DEVE    5.00      05/30/22      CNY     68.15
CHINA OCEANWIDE HOLDING    8.90      12/13/21      CNY     54.50
CHINA OCEANWIDE HOLDING    8.60      09/21/21      CNY     63.01
CHINA SECURITY CO LTD      4.45      11/11/19      CNY     31.00
CHINA YIXING ENVIRONMEN    4.08      09/14/23      CNY     59.60
CHINA YIXING ENVIRONMEN    4.08      09/14/23      CNY     59.66
CHONGQIN BAIYAN INVESTM    5.75      05/03/23      CNY     59.74
CHONGQIN BAIYAN INVESTM    5.75      05/03/23      CNY     60.04
CHONGQIN XINLIANG INVES    4.76      08/26/23      CNY     37.53
CHONGQIN XINLIANG INVES    4.76      08/26/23      CNY     37.55
CHONGQING BANAN ECONOMI    6.17      03/13/22      CNY     19.70
CHONGQING BANAN ECONOMI    7.00      08/20/21      CNY     20.00
CHONGQING BANAN ECONOMI    7.00      08/20/21      CNY     20.06
CHONGQING BANAN ECONOMI    6.17      03/13/22      CNY     20.21
CHONGQING BAYUAN CONSTR    4.99      08/16/23      CNY     58.18
CHONGQING BISHAN DISTRI    4.93      03/29/23      CNY     39.95
CHONGQING BISHAN DISTRI    4.93      03/29/23      CNY     39.98
CHONGQING CHANGSHOU ECO    7.20      07/15/21      CNY     20.01
CHONGQING CHANGSHOU ECO    7.20      07/15/21      CNY     20.17
CHONGQING CHANGSHOU ECO    7.10      06/19/21      CNY     20.00
CHONGQING CHANGSHOU ECO    7.10      06/19/21      CNY     20.02
CHONGQING DAZU INDUSTRI    6.30      04/28/22      CNY     40.00
CHONGQING DAZU INDUSTRI    6.30      04/28/22      CNY     40.07
CHONGQING ECO&TECH DEVE    3.95      04/13/23      CNY     39.82
CHONGQING ECO&TECH DEVE    3.95      04/13/23      CNY     40.24
CHONGQING ENERGY INVEST    5.63      03/18/22      USD     53.04
CHONGQING FULING TRAFFI    6.68      02/03/22      CNY     20.00
CHONGQING FULING TRAFFI    6.68      02/03/22      CNY     20.23
CHONGQING GAOXIN CITY D    7.80      04/25/21      CNY     20.00
CHONGQING GAOXIN CITY D    7.80      04/25/21      CNY     30.80
CHONGQING GARDENING IND    8.45      06/03/21      CNY     20.00
CHONGQING GARDENING IND    8.45      06/03/21      CNY     20.06
CHONGQING HECHUAN CITY     7.30      07/07/21      CNY     20.16
CHONGQING HECHUAN CITY     7.30      07/07/21      CNY     21.00
CHONGQING HECHUAN CITY     3.95      09/06/23      CNY     59.44
CHONGQING HECHUAN CITY     3.95      09/06/23      CNY     59.76
CHONGQING JIANGBEIZUI C    6.50      07/21/21      CNY     16.58
CHONGQING JIANGBEIZUI C    6.50      07/21/21      CNY     20.15
CHONGQING JIN TONG INDU    4.44      11/16/23      CNY     56.16
CHONGQING JIN TONG INDU    4.44      11/16/23      CNY     57.61
CHONGQING JINYUN ASSET     4.50      12/31/22      CNY     40.06
CHONGQING JINYUN ASSET     4.50      12/31/22      CNY     40.07
CHONGQING JIULONG HI-TE    6.60      08/19/21      CNY     20.14
CHONGQING JIULONG HI-TE    6.60      08/19/21      CNY     20.26
CHONGQING KAIQIAN INVES    4.64      03/21/23      CNY     38.61
CHONGQING KAIQIAN INVES    4.64      03/21/23      CNY     38.88
CHONGQING LAND PROPERTI    3.36      03/21/23      CNY     39.77
CHONGQING LAND PROPERTI    3.36      03/21/23      CNY     40.10
CHONGQING LIANGJIANG NE    5.88      09/16/21      CNY     16.68
CHONGQING LIANGJIANG NE    6.70      04/25/21      CNY     20.00
CHONGQING LIANGJIANG NE    5.88      09/16/21      CNY     20.17
CHONGQING LIANGJIANG NE    3.10      08/05/21      CNY     39.95
CHONGQING LIANGJIANG NE    3.10      08/05/21      CNY     40.00
CHONGQING MAIRUI URBAN     4.95      04/21/23      CNY     40.07
CHONGQING MAIRUI URBAN     4.95      04/21/23      CNY     60.06
CHONGQING NANCHUAN CITY    4.20      07/11/23      CNY     59.13
CHONGQING NANCHUAN CITY    4.20      07/11/23      CNY     59.36
CHONGQING QIJIANG EAST     4.00      09/05/23      CNY     57.74
CHONGQING QIJIANG EAST     4.00      09/05/23      CNY     58.15
CHONGQING SHUANGQIAO EC    5.99      11/19/21      CNY     19.93
CHONGQING SHUANGQIAO EC    5.99      11/19/21      CNY     26.25
CHONGQING TEA GARDEN IN    7.70      05/20/21      CNY     20.03
CHONGQING TONGLIANG JIN    6.59      04/08/22      CNY     20.00
CHONGQING TONGLIANG JIN    6.59      04/08/22      CNY     20.18
CHONGQING TONGNAN DISTR    4.99      12/31/22      CNY     39.28
CHONGQING TONGNAN DISTR    4.99      12/31/22      CNY     40.00
CHONGQING WANSHENG ECO     6.95      08/25/21      CNY     19.99
CHONGQING WANSHENG ECO     6.95      08/25/21      CNY     25.00
CHONGQING WANSHENG ECO     5.40      11/18/21      CNY     39.41
CHONGQING WANZHOU SANXI    4.95      08/25/22      CNY     40.26
CHONGQING WANZHOU SANXI    4.95      08/25/22      CNY     40.80
CHONGQING XINGRONG HOLD    4.86      03/31/23      CNY     38.50
CHONGQING XINGRONG HOLD    4.86      03/31/23      CNY     39.13
CHONGQING XIYONG MICRO-    6.58      07/25/21      CNY     20.09
CHONGQING XIYONG MICRO-    6.58      07/25/21      CNY     22.33
CHONGQING YONGCHUAN HUI    7.28      05/30/21      CNY     20.05
CHONGQING YONGCHUAN HUI    7.28      05/30/21      CNY     21.60
CHONGQING YUELAI INVEST    6.09      04/29/22      CNY     40.00
CHONGQING YUELAI INVEST    6.09      04/29/22      CNY     40.18
CHONGQING YUNAN ASSET M    7.05      06/17/21      CNY     20.01
CHONGQING YUNAN ASSET M    7.05      06/17/21      CNY     20.76
CHUN'AN XINANJIANG DEVE    6.10      03/11/22      CNY     20.32
CHUN'AN XINANJIANG DEVE    6.10      03/11/22      CNY     24.55
CHUN'AN XINANJIANG DEVE    3.84      11/04/23      CNY     58.70
CHUN'AN XINANJIANG DEVE    3.84      11/04/23      CNY     59.43
CHUZHOU CITY INVESTMENT    6.40      08/22/21      CNY     20.01
CHUZHOU CITY INVESTMENT    6.40      08/22/21      CNY     20.15
CHUZHOU CITY INVESTMENT    6.30      11/30/21      CNY     30.58
CITIC GUOAN GROUP CORP     4.90      11/06/19      CNY     18.25
CITIC GUOAN GROUP CORP     5.80      12/15/19      CNY     18.25
CITIC GUOAN GROUP CORP     4.23      12/15/20      CNY     18.25
CITIC GUOAN GROUP CORP     4.49      03/08/21      CNY     18.25
CIXI CITY CONSTRUCTION     6.18      08/18/21      CNY     20.12
CIXI CITY CONSTRUCTION     6.18      08/18/21      CNY     28.80
CIXI STATE OWNED ASSET     4.90      04/07/24      CNY     60.64
CIXI STATE OWNED ASSET     4.90      04/07/24      CNY     63.13
DAFANG COUNTY CONSTRUCT    6.00      09/26/23      CNY     57.81
DAFANG COUNTY CONSTRUCT    6.00      09/26/23      CNY     59.34
DALI HAIDONG DEVELOPMEN    6.01      01/25/23      CNY     39.39
DALI HAIDONG DEVELOPMEN    6.01      01/25/23      CNY     39.82
DALIAN PULANDIAN CONSTR    3.80      01/25/23      CNY     39.54
DALIAN RONGDA INVESTMEN    5.69      12/05/21      CNY     20.15
DALIAN SHITAI CITY CONS    4.50      02/01/23      CNY     35.60
DALIAN SHITAI CITY CONS    4.50      02/01/23      CNY     39.31
DANGTU COUNTY CONSTRUCT    5.38      08/10/22      CNY     40.27
DANGTU COUNTY CONSTRUCT    5.38      08/10/22      CNY     40.35
DANGYANG XINYUAN INVEST    7.99      05/23/21      CNY     20.00
DANGYANG XINYUAN INVEST    4.97      03/29/23      CNY     39.30
DANGYANG XINYUAN INVEST    4.97      03/29/23      CNY     40.06
DANYANG HI-TECH INDUSTR    6.40      04/24/22      CNY     19.64
DANYANG HI-TECH INDUSTR    6.40      04/24/22      CNY     40.00
DANYANG INVESTMENT GROU    3.99      01/25/23      CNY     39.25
DANYANG INVESTMENT GROU    3.99      01/25/23      CNY     39.51
DATONG ECONOMIC CONSTRU    4.49      10/22/22      CNY     39.73
DATONG ECONOMIC CONSTRU    4.49      10/22/22      CNY     40.30
DAWA COUNTY CITY CONSTR    6.29      06/12/22      CNY     39.00
DAWA COUNTY CITY CONSTR    6.29      06/12/22      CNY     39.90
DAWA COUNTY LINGANG ECO    5.99      10/19/24      CNY     73.86
DAYE ZHENHENG CITY DEVE    4.50      03/28/23      CNY     38.78
DAYE ZHENHENG CITY DEVE    4.50      03/28/23      CNY     39.55
DAYE ZHENHENG CITY DEVE    4.05      08/31/23      CNY     55.75
DAYE ZHENHENG CITY DEVE    4.05      08/31/23      CNY     58.26
DAZHOU DEVELOPMENT HOLD    6.55      01/14/22      CNY     20.00
DAZHOU DEVELOPMENT HOLD    6.55      01/14/22      CNY     20.19
DAZHOU DEVELOPMENT HOLD    5.10      11/27/22      CNY     39.81
DAZHOU DEVELOPMENT HOLD    5.10      11/27/22      CNY     40.00
DEHONGZHOU HONGKANG INV    6.68      01/23/22      CNY     19.94
DEHONGZHOU HONGKANG INV    6.68      01/23/22      CNY     19.97
DEQING CONSTRUCTION INV    3.60      11/11/23      CNY     59.48
DEQING CONSTRUCTION INV    3.60      11/11/23      CNY     59.50
DEXING INVESTMENT HOLDI    5.99      03/21/23      CNY     36.80
DEXING INVESTMENT HOLDI    5.99      03/21/23      CNY     39.69
DEYANG ECONOMIC DEVELOP    7.90      04/28/21      CNY     20.00
DEYANG ECONOMIC DEVELOP    7.90      04/28/21      CNY     28.26
DONGLING GROUP INC CO      8.00      07/14/22      CNY     40.00
DONGLING GROUP INC CO      8.00      07/14/22      CNY     40.30
DONGTAI STATE-OWNED ASS    3.04      11/16/23      CNY     58.08
DONGYING CITY URBAN ASS    5.57      03/31/22      CNY     20.23
DONGYING CITY URBAN ASS    5.57      03/31/22      CNY     21.58
DONGZHI COUNTY CITY OPE    4.88      06/20/23      CNY     60.31
DONGZHI COUNTY CITY OPE    4.88      06/20/23      CNY     60.32
DUJIANGYAN NEW CITY CON    6.90      10/19/24      CNY     69.05
DUJIANGYAN XINGYAN INVE    6.10      03/12/22      CNY     19.00
DUJIANGYAN XINGYAN INVE    6.10      03/12/22      CNY     19.35
DUNYUN STATE-OWNED ASSE    6.60      12/28/22      CNY     39.31
ENSHI URBAN CONSTRUCTIO    7.50      06/03/21      CNY     20.04
ENSHI URBAN CONSTRUCTIO    7.50      06/03/21      CNY     27.54
ENSHI URBAN CONSTRUCTIO    3.84      11/01/23      CNY     58.70
ENSHI URBAN CONSTRUCTIO    3.84      11/01/23      CNY     59.04
EZHOU CITY CONSTRUCTION    7.76      05/15/21      CNY     20.01
EZHOU CITY CONSTRUCTION    6.68      09/19/21      CNY     20.18
EZHOU CITY CONSTRUCTION    6.68      09/19/21      CNY     20.53
EZHOU CITY CONSTRUCTION    7.76      05/15/21      CNY     26.50
FEICHENG CITY ASSETS MA    4.04      03/23/23      CNY     39.32
FEICHENG CITY ASSETS MA    4.04      03/23/23      CNY     39.71
FEIXI COUNTY URBAN & RU    4.45      06/03/23      CNY     60.35
FEIXI COUNTY URBAN & RU    4.45      06/03/23      CNY     61.24
FENG COUNTY ECONOMIC DE    5.18      06/21/23      CNY     58.37
FENG COUNTY ECONOMIC DE    5.18      06/21/23      CNY     58.92
FENGCHENG CITY CONSTRUC    6.49      02/10/22      CNY     20.34
FENGCHENG CITY CONSTRUC    6.49      02/10/22      CNY     20.69
FENGCHENG CITY MODERN I    5.76      12/17/22      CNY     39.44
FENGCHENG CITY MODERN I    5.76      12/17/22      CNY     40.00
FENGDU COUNTY STATE-OWN    6.38      09/05/24      CNY     60.00
FENGHUANG MINGCHENG CON    6.50      03/23/24      CNY     59.86
FENGHUANG MINGCHENG CON    6.50      03/23/24      CNY     59.87
FENGTAI HUAXING CITY DE    5.60      03/13/24      CNY     61.33
FENGTAI HUAXING CITY DE    5.60      03/13/24      CNY     61.38
FENGXIAN URBAN INVESTME    4.23      07/13/21      CNY     19.88
FENGXIAN URBAN INVESTME    4.23      07/13/21      CNY     19.96
FENGXIAN URBAN INVESTME    6.48      03/20/22      CNY     19.99
FENGXIAN URBAN INVESTME    6.48      03/20/22      CNY     20.00
FENYI CITY CONSTRUCTION    4.54      08/22/23      CNY     58.33
FENYI CITY CONSTRUCTION    4.54      08/22/23      CNY     58.42
FUGUINIAO CO LTD           6.30      04/22/20      CNY     13.00
FUJIAN FUSHENG GROUP CO    7.90      11/19/21      CNY     60.00
FUJIAN FUSHENG GROUP CO    7.90      12/17/21      CNY     70.99
FUJIAN JINJIANG INDUSTR    7.08      06/27/21      CNY     20.06
FUJIAN JINJIANG INDUSTR    7.08      06/27/21      CNY     20.65
FUJIAN JINJIANG URBAN C    3.35      08/24/23      CNY     59.00
FUJIAN JINJIANG URBAN C    3.35      08/24/23      CNY     59.95
FUJIAN PROVINCE LIANJIA    6.29      04/30/22      CNY     40.00
FUJIAN PROVINCE LIANJIA    6.29      04/30/22      CNY     40.47
FUJIAN ZHANGLONG GROUP     4.99      08/07/22      CNY     40.00
FUJIAN ZHANGLONG GROUP     4.99      08/07/22      CNY     40.47
FUNING URBAN INVESTMENT    7.19      08/15/21      CNY     20.14
FUNING URBAN INVESTMENT    7.19      08/15/21      CNY     21.15
FUNING URBAN INVESTMENT    6.00      03/14/24      CNY     61.23
FUNING URBAN INVESTMENT    6.00      03/14/24      CNY     61.49
FUQING CITY STATE-OWNED    5.94      11/26/22      CNY     39.80
FUXIN INFRASTRUCTURE CO    6.18      03/18/22      CNY     19.00
FUXIN INFRASTRUCTURE CO    6.18      03/18/22      CNY     19.76
FUZHOU CHANGLE DISTRICT    4.50      04/11/23      CNY     38.78
FUZHOU CHANGLE DISTRICT    4.50      04/11/23      CNY     39.99
FUZHOU DEVELOPMENT ZONE    3.53      08/25/23      CNY     49.63
FUZHOU DEVELOPMENT ZONE    3.53      08/25/23      CNY     59.42
FUZHOU DONGXIANG INVEST    6.20      03/20/24      CNY     58.60
FUZHOU DONGXIANG INVEST    6.20      03/20/24      CNY     61.90
FUZHOU LINCHUAN URBAN C    5.68      07/05/23      CNY     59.79
FUZHOU LINCHUAN URBAN C    5.68      07/05/23      CNY     60.06
FUZHOU URBAN AND RURAL     5.48      01/26/22      CNY     20.00
FUZHOU URBAN AND RURAL     5.48      01/26/22      CNY     20.35
FUZHOU URBAN AND RURAL     4.89      07/08/22      CNY     40.34
FUZHOU URBAN AND RURAL     4.89      07/08/22      CNY     40.55
GANSU PROVINCIAL HIGHWA    6.58      09/24/22      CNY     71.60
GANSU PROVINCIAL HIGHWA    6.20      03/28/23      CNY     72.14
GANZHOU CITY DEVELOPMEN    5.50      06/16/22      CNY     40.00
GANZHOU CITY DEVELOPMEN    5.50      06/16/22      CNY     40.16
GANZHOU DEVELOPMENT INV    8.10      12/11/23      CNY     63.88
GAOMI STATE-OWNED ASSET    4.69      01/26/23      CNY     39.55
GAOMI STATE-OWNED ASSET    4.69      01/26/23      CNY     39.73
GAOYOU CITY CONSTRUCTIO    5.48      09/15/22      CNY     40.00
GAOYOU CITY CONSTRUCTIO    5.48      09/15/22      CNY     40.33
GAOYOU CITY ECONOMY DEV    3.65      09/02/23      CNY     59.51
GAOYOU CITY ECONOMY DEV    3.65      09/02/23      CNY     60.00
GONG'AN COUNTY CITY CON    4.30      08/30/23      CNY     59.09
GONG'AN COUNTY CITY CON    4.30      08/30/23      CNY     59.20
GONGQINGCHENG FINANCIAL    5.85      03/25/23      CNY     39.08
GONGQINGCHENG FINANCIAL    5.85      03/25/23      CNY     40.29
GUANGAN DEVELOPMENT AND    6.39      03/24/22      CNY     20.28
GUANGAN DEVELOPMENT AND    6.39      03/24/22      CNY     24.00
GUANGAN ECONOMIC & TECH    7.10      09/22/21      CNY     20.03
GUANGAN ECONOMIC & TECH    7.10      09/22/21      CNY     20.03
GUANGAN ECONOMIC & TECH    5.16      04/14/23      CNY     38.70
GUANGAN ECONOMIC & TECH    5.16      04/14/23      CNY     39.34
GUANGAN TRANSPORTATION     5.39      12/01/23      CNY     58.51
GUANGDONG HUIZHOU COMMU    4.16      05/17/23      CNY     60.28
GUANGDONG HUIZHOU COMMU    4.16      05/17/23      CNY     60.32
GUANGDONG HUIZHOU COMMU    4.95      12/27/23      CNY     61.30
GUANGDONG HUIZHOU COMMU    4.95      12/27/23      CNY     61.30
GUANGRAO COUNTY ECONOMI    3.61      09/08/23      CNY     60.06
GUANGSHUI CITY DEVELOPM    6.19      03/01/24      CNY     61.38
GUANGSHUI CITY DEVELOPM    6.19      03/01/24      CNY     61.39
GUANGXI BAISE DEVELOPME    7.27      06/20/21      CNY     19.90
GUANGXI BAISE DEVELOPME    7.27      06/20/21      CNY     19.99
GUANGXI LAIBIN INDUSTRI    5.97      11/26/21      CNY     19.94
GUANGXI LAIBIN INDUSTRI    5.97      11/26/21      CNY     20.00
GUANGYUAN YUANQU CONSTR    8.35      08/26/21      CNY     20.14
GUANGYUAN YUANQU CONSTR    8.35      08/26/21      CNY     27.00
GUANGYUAN YUANQU CONSTR    4.48      03/10/23      CNY     38.65
GUANGYUAN YUANQU CONSTR    4.48      03/10/23      CNY     38.99
GUANGZHOU HUANTOU NANSH    6.38      11/18/24      CNY     59.72
GUANGZHOU HUANTOU NANSH    6.38      11/18/24      CNY     59.98
GUANGZHOU METRO GROUP C    6.45      04/02/24      CNY     45.00
GUANGZHOU METRO GROUP C    6.45      04/02/24      CNY     47.35
GUANGZHOU METRO GROUP C    6.05      06/03/24      CNY     62.28
GUILIN CITY INVESTMENT     6.90      06/13/21      CNY     20.00
GUILIN CITY INVESTMENT     6.90      06/13/21      CNY     20.05
GUILIN ECONOMIC CONSTRU    5.60      04/22/22      CNY     20.00
GUILIN ECONOMIC CONSTRU    5.60      04/22/22      CNY     20.39
GUIRENNIAO CO LTD          7.00      12/03/19      CNY     49.50
GUIXI STATE OWNED HOLDI    4.18      08/18/23      CNY     58.60
GUIXI STATE OWNED HOLDI    4.18      08/18/23      CNY     58.93
GUIYANG BAIYUN CITY CON    4.75      09/13/26      CNY     73.28
GUIYANG BAIYUN CITY CON    4.75      09/13/26      CNY     73.47
GUIYANG BAIYUN INDUSTRY    7.30      03/27/22      CNY     20.23
GUIYANG BAIYUN INDUSTRY    7.30      03/27/22      CNY     25.00
GUIYANG CITY CONSTRUCTI    4.37      03/25/26      CNY     66.33
GUIYANG CITY CONSTRUCTI    4.37      03/25/26      CNY     67.09
GUIYANG CITY CONSTRUCTI    4.00      11/14/26      CNY     73.25
GUIYANG CITY CONSTRUCTI    4.00      11/14/26      CNY     74.71
GUIYANG GUANCHENG INDUS    7.50      12/25/22      CNY     70.37
GUIYANG GUANSHANHU DIST    4.48      03/09/23      CNY     37.39
GUIYANG GUANSHANHU DIST    4.48      03/09/23      CNY     38.24
GUIYANG GUANSHANHU DIST    4.87      01/28/23      CNY     38.56
GUIYANG GUANSHANHU DIST    4.87      01/28/23      CNY     38.88
GUIYANG URBAN CONSTRUCT    5.23      12/02/22      CNY     39.52
GUIYANG URBAN CONSTRUCT    5.23      12/02/22      CNY     39.60
GUIZHOU EAST LAKE CITY     5.18      01/06/23      CNY     38.57
GUIZHOU EAST LAKE CITY     5.18      01/06/23      CNY     39.95
GUIZHOU FANJINGSHAN INV    6.95      01/28/22      CNY     19.65
GUIZHOU FANJINGSHAN INV    6.95      01/28/22      CNY     20.00
GUIZHOU GUIAN CONSTRUCT    4.17      10/28/22      CNY     40.09
GUIZHOU GUIAN CONSTRUCT    4.17      10/28/22      CNY     41.00
GUIZHOU GUILONG INDUSTR    7.80      04/28/22      CNY     50.15
GUIZHOU GUILONG INDUSTR    7.80      04/28/22      CNY     50.22
GUIZHOU HONGCAI INVESTM    6.00      06/07/23      CNY     48.73
GUIZHOU HONGCAI INVESTM    6.00      06/07/23      CNY     49.16
GUIZHOU RAILWAY INVESTM    7.20      03/27/22      CNY     20.10
GUIZHOU RAILWAY INVESTM    7.20      03/27/22      CNY     20.61
GUIZHOU RAILWAY INVESTM    7.50      04/23/24      CNY     45.82
GUIZHOU RAILWAY INVESTM    7.50      04/23/24      CNY     62.67
GUIZHOU SHUICHENG CITY     4.98      11/22/23      CNY     54.89
GUIZHOU SHUICHENG CITY     4.98      11/22/23      CNY     59.70
GUIZHOU SHUICHENG ECONO    7.50      10/26/25      CNY     59.50
GUIZHOU XINDONGGUAN CIV    7.70      09/05/24      CNY     67.00
GULIN STATE-OWNED ASSET    4.18      08/04/23      CNY     58.52
GULIN STATE-OWNED ASSET    4.18      08/04/23      CNY     58.80
HAIAN COUNTY DEVELOPMEN    5.45      04/13/23      CNY     38.98
HAIAN COUNTY DEVELOPMEN    5.45      04/13/23      CNY     39.28
HAIAN DEVELOPMENT ZONE     4.47      11/16/23      CNY     57.87
HAIAN DEVELOPMENT ZONE     4.47      11/16/23      CNY     58.08
HAIAN URBAN DEMOLITION     5.08      11/27/22      CNY     40.15
HAIAN URBAN DEMOLITION     5.08      11/27/22      CNY     40.88
HAICHENG URBAN JINCAI L    5.37      08/10/23      CNY     59.25
HAIFENG MARINE INFRASTR    6.84      04/29/22      CNY     40.05
HAIKOU MEILAN INTERNATI    5.25      09/06/19      USD     23.42
HAINAN AIRLINES HOLDING    6.20      05/24/21      CNY     51.00
HAINING CITY DEVELOPMEN    5.58      10/22/21      CNY     20.08
HAINING CITY DEVELOPMEN    5.58      10/22/21      CNY     20.70
HAMI JIANHUI STATE-OWNE    3.90      09/21/23      CNY     57.74
HAMI JIANHUI STATE-OWNE    3.90      09/21/23      CNY     58.20
HANCHENG CITY INVESTMEN    4.69      12/05/23      CNY     57.03
HANCHENG CITY INVESTMEN    4.69      12/05/23      CNY     57.23
HANCHUAN CITY HANRONG I    4.25      07/18/23      CNY     59.13
HANCHUAN CITY HANRONG I    4.25      07/18/23      CNY     59.24
HANDAN CONSTRUCTION & I    5.48      05/27/22      CNY     40.25
HANDAN CONSTRUCTION & I    5.48      05/27/22      CNY     47.20
HANGZHOU CANAL COMPREHE    3.40      10/17/23      CNY     59.43
HANGZHOU CANAL COMPREHE    3.40      10/17/23      CNY     60.01
HANGZHOU CITY CONSTRUCT    3.80      03/14/23      CNY     40.00
HANGZHOU CITY CONSTRUCT    3.80      03/14/23      CNY     40.18
HANGZHOU FUYANG DEVELOP    7.70      04/28/21      CNY     20.00
HANGZHOU FUYANG DEVELOP    7.70      04/28/21      CNY     29.00
HANGZHOU FUYANG DEVELOP    4.76      01/27/23      CNY     39.29
HANGZHOU FUYANG DEVELOP    4.76      01/27/23      CNY     40.30
HANGZHOU GONGSHU DISTRI    6.90      07/21/21      CNY     20.13
HANGZHOU GONGSHU DISTRI    6.90      07/21/21      CNY     20.40
HANGZHOU METRO GROUP CO    5.97      09/17/24      CNY     62.56
HANGZHOU WEST LAKE INVE    4.30      04/25/23      CNY     40.45
HANGZHOU WEST LAKE INVE    4.30      04/25/23      CNY     60.57
HANGZHOU XIAOSHAN ECO&T    6.90      05/13/21      CNY     17.27
HANGZHOU XIAOSHAN ECO&T    6.90      05/13/21      CNY     20.04
HANGZHOU XIAOSHAN QIANJ    4.00      03/22/23      CNY     39.34
HANGZHOU XIAOSHAN QIANJ    4.00      03/22/23      CNY     40.31
HANJIANG STATE-OWNED-AS    5.40      04/21/24      CNY     61.61
HANJIANG STATE-OWNED-AS    5.40      04/21/24      CNY     61.95
HAWTAI MOTOR GROUP LTD     6.10      10/26/21      CNY     74.00
HEBEI ZHONGYUE CITY CON    4.10      11/16/21      CNY     19.88
HEBEI ZHONGYUE CITY CON    4.10      11/16/21      CNY     19.90
HEBI INVESTMENTS GROUP     7.88      08/01/21      CNY     20.16
HEBI INVESTMENTS GROUP     7.88      08/01/21      CNY     20.99
HECHI CITY CONSTRUCTION    5.58      11/13/22      CNY     39.11
HECHI CITY CONSTRUCTION    5.58      11/13/22      CNY     42.42
HECHI STATE-OWNED ASSET    4.37      11/04/23      CNY     58.06
HECHI STATE-OWNED ASSET    4.37      11/04/23      CNY     58.26
HEFEI CONSTRUCTION INVE    7.20      04/29/24      CNY     63.10
HEFEI CONSTRUCTION INVE    7.20      04/29/24      CNY     63.28
HEFEI XINCHENG STATE-OW    4.13      07/15/23      CNY     59.23
HEFEI XINCHENG STATE-OW    4.13      07/15/23      CNY     59.27
HEILONGJIANG HECHENG CO    5.60      11/11/21      CNY     19.89
HEILONGJIANG HECHENG CO    7.05      06/21/22      CNY     30.08
HEISHAN TONGHE ASSET MA    6.79      09/18/22      CNY     39.28
HEISHAN TONGHE ASSET MA    6.79      09/18/22      CNY     39.39
HENAN ENERGY & CHEMICAL    6.98      11/02/21      CNY     55.82
HENGDONG URBAN & RURAL     6.60      12/27/23      CNY     59.74
HENGDONG URBAN & RURAL     6.60      12/27/23      CNY     59.90
HENGYANG BAISHAZHOU DEV    6.87      08/22/21      CNY     20.02
HENGYANG BAISHAZHOU DEV    6.87      08/22/21      CNY     24.50
HENGYANG COMMUNICATION     4.28      01/21/23      CNY     39.65
HENGYANG COMMUNICATION     4.28      01/21/23      CNY     40.00
HESHAN PUBLIC ASSET MAN    4.08      09/28/23      CNY     58.14
HESHAN PUBLIC ASSET MAN    4.08      09/28/23      CNY     59.08
HESHAN PUBLIC ASSET MAN    5.08      12/07/23      CNY     60.27
HESHAN PUBLIC ASSET MAN    5.08      12/07/23      CNY     60.27
HETIAN YUXIN STATE-OWNE    4.65      03/28/23      CNY     38.73
HETIAN YUXIN STATE-OWNE    4.65      03/28/23      CNY     38.78
HEYUAN CITY RUNYE INVES    6.20      12/03/21      CNY     20.23
HEYUAN CITY RUNYE INVES    6.20      12/03/21      CNY     25.88
HEZHOU URBAN CONSTRUCTI    8.16      05/16/21      CNY     20.04
HEZHOU URBAN CONSTRUCTI    8.16      05/16/21      CNY     21.00
HNA GROUP CO LTD           5.99      11/27/22      CNY     24.27
HNA GROUP CO LTD           5.99      11/27/22      CNY     29.10
HNA GROUP CO LTD           7.10      04/15/20      CNY     70.00
HONGHEZHOU DEVELOPMENT     5.90      07/12/24      CNY     72.00
HUACHEN ENERGY CO LTD      6.63      05/18/20      USD     34.50
HUAIAN CITY HUAIAN DIST    4.63      05/03/23      CNY     59.91
HUAIAN CITY HUAIAN DIST    4.63      05/03/23      CNY     60.30
HUAIAN CITY URBAN ASSET    5.70      04/23/22      CNY     21.54
HUAIAN CITY URBAN ASSET    5.70      04/23/22      CNY     40.48
HUAIAN CITY XUYI URBAN     5.10      04/15/23      CNY     39.33
HUAIAN CITY XUYI URBAN     5.10      04/15/23      CNY     39.46
HUAIAN HONGRI TRANSPORT    5.09      04/20/23      CNY     38.52
HUAIAN HONGRI TRANSPORT    5.09      04/20/23      CNY     38.79
HUAIAN HONGZE DISTRICT     4.37      07/18/23      CNY     58.63
HUAIAN HONGZE DISTRICT     4.37      07/18/23      CNY     59.32
HUAI'AN NEW CITY INVEST    6.95      07/28/21      CNY     20.15
HUAI'AN NEW CITY INVEST    6.95      07/28/21      CNY     27.50
HUAIHUA CITY CONSTRUCTI    4.18      08/31/23      CNY     58.02
HUAIHUA CITY CONSTRUCTI    4.18      08/31/23      CNY     58.11
HUAIHUA ECONOMIC DEVELO    6.80      03/26/22      CNY     19.77
HUAIHUA ECONOMIC DEVELO    6.80      03/26/22      CNY     20.00
HUAIHUA TRANSPORTATION     4.96      04/12/23      CNY     39.04
HUAIHUA TRANSPORTATION     4.96      04/12/23      CNY     39.25
HUAINAN URBAN CONSTRUCT    6.79      07/09/21      CNY     20.15
HUAINAN URBAN CONSTRUCT    6.79      07/09/21      CNY     20.26
HUANGGANG CITY CONSTRUC    4.08      01/18/23      CNY     40.25
HUANGSHAN CHENGTOU GROU    5.95      05/06/22      CNY     40.39
HUANGSHAN CHENGTOU GROU    5.95      05/06/22      CNY     40.65
HUANGSHI CIHU HIGH-TECH    4.97      06/08/23      CNY     59.78
HUANGSHI CIHU HIGH-TECH    4.97      06/08/23      CNY     59.92
HUANGSHI CIHU HIGH-TECH    4.50      06/08/23      CNY     60.13
HUANGSHI CIHU HIGH-TECH    4.50      06/08/23      CNY     63.00
HUANGSHI URBAN CONSTRUC    5.99      04/29/22      CNY     40.00
HUANGSHI URBAN CONSTRUC    5.99      04/29/22      CNY     40.40
HUAYANG NEW MATERIAL TE    3.67      02/26/23      CNY     75.00
HUBEI PROVINCE CHANGJIA    6.15      04/03/22      CNY     20.39
HUBEI PROVINCE CHANGJIA    6.15      04/03/22      CNY     22.40
HULUDAO INVESTMENT GROU    7.50      10/18/23      CNY     36.83
HULUDAO INVESTMENT GROU    7.50      10/18/23      CNY     45.80
HULUNBEIER INVESTMENT C    6.31      04/30/22      CNY     39.88
HULUNBEIER INVESTMENT C    6.31      04/30/22      CNY     40.36
HUNAN CHANGDE DEYUAN IN    6.50      06/16/21      CNY     20.06
HUNAN CHANGDE DEYUAN IN    6.50      06/16/21      CNY     20.12
HUNAN CHUZHISHENG HOLDI    5.60      12/18/22      CNY     39.61
HUNAN CHUZHISHENG HOLDI    5.60      12/18/22      CNY     40.56
HUNAN JINYANG INVESTMEN    5.70      11/27/21      CNY     18.60
HUNAN JINYANG INVESTMEN    5.70      11/27/21      CNY     20.01
HUNAN JINYANG INVESTMEN    4.37      01/19/23      CNY     39.45
HUNAN JINYANG INVESTMEN    4.39      04/06/23      CNY     39.58
HUNAN JINYANG INVESTMEN    4.37      01/19/23      CNY     39.59
HUNAN JINYANG INVESTMEN    4.39      04/06/23      CNY     39.77
HUNAN JINYANG NEW CITY     4.43      10/23/22      CNY     40.05
HUNAN LINGANG DEVELOPME    3.94      10/26/23      CNY     57.20
HUNAN LINGANG DEVELOPME    3.94      10/26/23      CNY     57.44
HUNAN LINGANG DEVELOPME    4.24      07/21/23      CNY     57.96
HUNAN LINGANG DEVELOPME    4.24      07/21/23      CNY     58.13
HUNAN LOUDI ECONOMIC &     6.36      03/13/22      CNY     19.14
HUNAN LOUDI ECONOMIC &     6.36      03/13/22      CNY     27.00
HUNAN LOUDI ECONOMIC &     4.89      03/30/23      CNY     37.23
HUNAN LOUDI ECONOMIC &     4.89      03/30/23      CNY     38.62
HUNAN PROVINCIAL RAILWA    6.09      04/30/25      CNY     70.00
HUNAN PROVINCIAL RAILWA    6.09      04/30/25      CNY     72.38
HUNAN SENTE INDUSTRIAL     6.90      11/28/24      CNY     40.00
HUNAN SHAODONG ECO-INDU    6.58      12/13/23      CNY     60.23
HUNAN SHAODONG ECO-INDU    6.58      12/13/23      CNY     60.24
HUNAN TIER GROUP CO LTD    4.20      03/17/23      CNY     37.93
HUNAN TIER GROUP CO LTD    4.20      03/17/23      CNY     38.33
HUNAN YOUZHOU INVESTMEN    4.80      07/07/23      CNY     59.67
HUNAN YOUZHOU INVESTMEN    4.80      07/07/23      CNY     59.68
HUZHOU URBAN CONSTRUCTI    6.48      08/28/21      CNY     20.13
HUZHOU URBAN CONSTRUCTI    6.48      08/28/21      CNY     22.38
HUZHOU XISAISHAN DEVELO    7.80      04/29/21      CNY     20.00
HUZHOU XISAISHAN DEVELO    7.80      04/29/21      CNY     20.00
INNER MONGOLIA JINLONG     7.30      11/19/22      CNY     39.50
INNER MONGOLIA JINLONG     7.30      11/19/22      CNY     39.78
INNER MONGOLIA KE'ERQIN    6.50      03/11/22      CNY     19.35
INNER MONGOLIA KE'ERQIN    6.50      03/11/22      CNY     19.40
INNER MONGOLIA KE'ERQIN    6.45      04/30/22      CNY     39.28
INNER MONGOLIA KE'ERQIN    6.45      04/30/22      CNY     40.00
INNER MONGOLIA SHENGXIA    8.18      08/21/21      CNY     20.09
INNER MONGOLIA SHENGXIA    8.18      08/21/21      CNY     24.00
INNER MONGOLIA ZHUNGEER    6.54      12/31/21      CNY     20.40
INNER MONGOLIA ZHUNGEER    6.54      12/31/21      CNY     22.10
JIAN CITY JINGANGSHAN D    7.99      06/03/21      CNY     19.86
JIAN CITY JINGANGSHAN D    7.99      06/03/21      CNY     20.87
JIAN CITY JINGANGSHAN D    4.87      01/27/23      CNY     38.47
JIAN CITY JINGANGSHAN D    4.87      01/27/23      CNY     39.07
JIANAN INVESTMENT HOLDI    6.85      05/23/21      CNY     20.04
JIANAN INVESTMENT HOLDI    6.85      05/23/21      CNY     26.50
JIANAN INVESTMENT HOLDI    4.30      03/08/23      CNY     39.74
JIANAN INVESTMENT HOLDI    4.30      03/08/23      CNY     40.21
JIANAN INVESTMENT HOLDI    3.50      09/05/23      CNY     59.26
JIANAN INVESTMENT HOLDI    3.85      09/05/23      CNY     59.26
JIANAN INVESTMENT HOLDI    3.85      09/05/23      CNY     59.29
JIANAN INVESTMENT HOLDI    3.50      09/05/23      CNY     59.34
JIANGMEN NEW HI-TECH IN    6.03      04/22/22      CNY     20.17
JIANGMEN NEW HI-TECH IN    6.03      04/22/22      CNY     21.10
JIANGSU BEIGU INDUSTRIA    5.80      06/20/23      CNY     59.85
JIANGSU BEIGU INDUSTRIA    5.80      06/20/23      CNY     60.38
JIANGSU DAHANG LINGANG     5.18      09/22/23      CNY     58.56
JIANGSU DAHANG LINGANG     5.18      09/22/23      CNY     58.58
JIANGSU GAOCHUN ECONOMI    3.92      11/23/23      CNY     59.13
JIANGSU GAOCHUN ECONOMI    3.67      09/23/23      CNY     59.28
JIANGSU GAOCHUN ECONOMI    3.67      09/23/23      CNY     59.37
JIANGSU GAOCHUN ECONOMI    3.92      11/23/23      CNY     59.82
JIANGSU HAIRUN CITY DEV    6.22      04/03/22      CNY     20.28
JIANGSU HAIRUN CITY DEV    6.22      04/03/22      CNY     22.20
JIANGSU HAIZHOU DEVELOP    4.67      06/06/23      CNY     60.13
JIANGSU HAIZHOU DEVELOP    4.67      06/06/23      CNY     60.24
JIANGSU HANRUI INVESTME    4.63      04/15/23      CNY     39.96
JIANGSU HANRUI INVESTME    4.63      04/15/23      CNY     40.51
JIANGSU HANRUI INVESTME    5.00      08/31/23      CNY     57.22
JIANGSU HANRUI INVESTME    5.00      08/31/23      CNY     58.15
JIANGSU JINTAN GUOFA IN    6.85      05/30/21      CNY     20.00
JIANGSU JINTAN GUOFA IN    6.85      05/30/21      CNY     20.03
JIANGSU JINTAN GUOFA IN    4.60      08/22/23      CNY     58.37
JIANGSU JINTAN GUOFA IN    4.60      08/22/23      CNY     58.97
JIANGSU NANTONG NO2 CON    8.10      07/10/21      CNY     20.00
JIANGSU NANTONG NO2 CON    8.10      07/10/21      CNY     20.04
JIANGSU RUNCHENG ASSET     5.65      04/19/24      CNY     60.62
JIANGSU RUNCHENG ASSET     5.65      04/19/24      CNY     62.65
JIANGSU RUNQI WANGUO IN    4.14      10/21/21      CNY     29.66
JIANGSU RUNQI WANGUO IN    4.14      10/21/21      CNY     29.94
JIANGSU SUHAI INVESTMEN    7.28      05/29/21      CNY     20.04
JIANGSU SUHAI INVESTMEN    7.28      05/29/21      CNY     25.00
JIANGSU TAICANG PORT DE    7.40      04/28/21      CNY     20.00
JIANGSU TAICANG PORT DE    7.40      04/28/21      CNY     20.02
JIANGSU WUZHONG ECONOMI    5.49      11/19/21      CNY     20.25
JIANGSU WUZHONG ECONOMI    5.49      11/19/21      CNY     20.32
JIANGSU XISHAN ECONOMIC    5.78      07/20/22      CNY     40.48
JIANGSU XISHAN ECONOMIC    5.78      07/20/22      CNY     40.50
JIANGSU YANGKOU PORT CO    6.23      04/10/22      CNY     20.24
JIANGSU YANGKOU PORT CO    6.23      04/10/22      CNY     27.50
JIANGSU YINGZHOU DEVELO    4.33      09/21/23      CNY     57.59
JIANGSU YINGZHOU DEVELO    4.33      09/21/23      CNY     57.75
JIANGSU ZHANGJIAGANG EC    3.95      03/22/23      CNY     40.00
JIANGSU ZHANGJIAGANG EC    3.95      03/22/23      CNY     40.14
JIANGSU ZHONGAN CONSTRU    5.65      03/24/24      CNY     60.91
JIANGSU ZHONGAN CONSTRU    5.65      03/24/24      CNY     62.40
JIANGSU ZHUFU INDUSTRIA    4.47      07/20/23      CNY     56.30
JIANGSU ZHUFU INDUSTRIA    4.47      07/20/23      CNY     58.60
JIANGXI HEJI INVESTMENT    5.09      12/17/22      CNY     39.40
JIANGXI HEJI INVESTMENT    5.09      12/17/22      CNY     40.00
JIANGXI HUIHENG PROPERT    4.43      08/30/21      CNY     39.85
JIANGXI HUIHENG PROPERT    4.43      08/30/21      CNY     39.98
JIANGXI LONGHU MOUNTAIN    4.35      03/16/23      CNY     39.51
JIANGXI LONGHU MOUNTAIN    4.35      03/16/23      CNY     39.52
JIANGXI PINGXIANG CHANG    6.00      08/11/24      CNY     60.00
JIANGYOU HONGFEI INVEST    6.55      09/02/22      CNY     39.86
JIANGYOU HONGFEI INVEST    6.55      09/02/22      CNY     40.31
JIANHU COUNTY DEVELOPME    7.29      09/25/21      CNY     20.01
JIANHU COUNTY DEVELOPME    7.29      09/25/21      CNY     22.75
JIANHU URBAN CONSTRUCTI    6.30      06/01/22      CNY     39.78
JIANHU URBAN CONSTRUCTI    3.28      10/13/21      CNY     39.82
JIANHU URBAN CONSTRUCTI    3.28      10/13/21      CNY     41.00
JIANHU URBAN CONSTRUCTI    6.30      06/01/22      CNY     42.86
JIANYANG DEVELOPMENT HO    3.93      11/10/23      CNY     57.14
JIANYANG DEVELOPMENT HO    3.93      11/10/23      CNY     57.50
JIANYANG MODERN INDUSTR    6.00      04/24/24      CNY     60.32
JIAXING XIANGJIADANG DE    3.87      09/21/23      CNY     57.71
JIAXING XIANGJIADANG DE    4.13      07/20/23      CNY     58.56
JIAXING XIANGJIADANG DE    3.87      09/21/23      CNY     58.80
JIAXING XIANGJIADANG DE    4.13      07/20/23      CNY     59.35
JIAYU COUNTY URBAN TOWN    5.70      01/19/23      CNY     39.99
JIAYU COUNTY URBAN TOWN    5.70      01/19/23      CNY     40.18
JIAYU COUNTY URBAN TOWN    5.70      03/23/24      CNY     60.43
JIAYU COUNTY URBAN TOWN    5.70      03/23/24      CNY     60.44
JIAYU COUNTY URBAN TOWN    6.50      01/19/24      CNY     60.79
JIAYU COUNTY URBAN TOWN    6.50      01/19/24      CNY     61.16
JIAYUGUAN CITY INFRASTR    7.83      09/23/21      CNY     20.00
JIAYUGUAN CITY INFRASTR    7.83      09/23/21      CNY     20.01
JIEYANG CITY INVESTMENT    6.55      08/27/21      CNY     20.14
JIEYANG CITY INVESTMENT    6.55      08/27/21      CNY     20.25
JILIN CITY CONSTRUCTION    3.80      01/27/23      CNY     39.28
JILIN ECONOMIC AND TECH    6.20      04/29/23      CNY     59.65
JILIN ECONOMIC AND TECH    6.20      04/29/23      CNY     59.89
JILIN NORTHEAST SOCK IN    7.50      05/19/22      CNY     70.31
JINAN CITY LICHENG DIST    5.00      06/23/22      CNY     39.51
JINAN CITY LICHENG DIST    5.00      06/23/22      CNY     40.29
JINAN HI-TECH HOLDING G    6.38      06/19/21      CNY     20.07
JINAN HI-TECH HOLDING G    6.38      06/19/21      CNY     20.20
JINCHANG CONSTRUCTION I    6.79      12/21/22      CNY     20.00
JINCHANG CONSTRUCTION I    6.79      12/21/22      CNY     39.97
JINCHENG STATE-OWNED CA    4.99      11/11/21      CNY     20.00
JINCHENG STATE-OWNED CA    4.99      11/11/21      CNY     20.10
JINGDEZHEN CERAMIC CULT    5.38      11/27/22      CNY     39.85
JINGDEZHEN CERAMIC CULT    5.38      11/27/22      CNY     40.00
JINGHONG STATE-OWNED AS    8.08      05/23/21      CNY     20.00
JINGHONG STATE-OWNED AS    8.08      05/23/21      CNY     20.04
JINGJIANG CITY INVESTME    4.55      03/30/23      CNY     39.22
JINGJIANG CITY INVESTME    4.55      03/30/23      CNY     39.43
JINGJIANG HARBOUR GROUP    7.30      08/05/21      CNY     19.98
JINGJIANG HARBOUR GROUP    7.30      08/05/21      CNY     20.16
JINGMEN CITY CONSTRUCTI    6.85      07/09/22      CNY     30.00
JINGMEN CITY CONSTRUCTI    6.85      07/09/22      CNY     30.51
JINGMEN HIGH-TECH DEVEL    5.48      08/11/22      CNY     39.80
JINGMEN HIGH-TECH DEVEL    5.48      08/11/22      CNY     40.09
JINGMEN HIGH-TECH DEVEL    4.15      07/28/23      CNY     58.34
JINGMEN HIGH-TECH DEVEL    4.15      07/28/23      CNY     58.98
JINGSHAN JINGCHENG INVE    4.38      08/29/23      CNY     58.68
JINGSHAN JINGCHENG INVE    4.38      08/29/23      CNY     60.02
JINGZHOU DEVELOPMENT ZO    4.87      09/23/26      CNY     75.19
JINGZHOU URBAN CONSTRUC    3.97      03/10/23      CNY     39.06
JINGZHOU URBAN CONSTRUC    3.97      03/10/23      CNY     39.95
JINHU COUNTY STATE-OWNE    7.75      08/25/21      CNY     20.16
JINHU COUNTY STATE-OWNE    7.75      08/25/21      CNY     21.33
JINHU COUNTY STATE-OWNE    4.00      07/26/22      CNY     49.72
JINHU COUNTY STATE-OWNE    4.00      07/26/22      CNY     50.12
JINING CITY SHIZHONG DI    6.39      01/29/22      CNY     20.08
JINING CITY SHIZHONG DI    6.39      01/29/22      CNY     24.44
JINING CITY SHIZHONG DI    3.52      09/14/23      CNY     58.43
JINING CITY SHIZHONG DI    3.52      09/14/23      CNY     59.36
JINING HIGH TECH URBAN     6.09      04/30/22      CNY     40.30
JINING HIGH TECH URBAN     6.09      04/30/22      CNY     41.50
JINING HIGH TECH URBAN     5.88      04/25/23      CNY     70.83
JINSHA COUNTY CONSTRUCT    6.01      09/05/23      CNY     59.72
JINSHA COUNTY CONSTRUCT    6.01      09/05/23      CNY     59.73
JINTANG MODERN AGRICULT    5.49      07/14/23      CNY     58.79
JINTANG MODERN AGRICULT    5.49      07/14/23      CNY     59.00
JINZHAI URBAN DEVELOPME    5.90      04/25/23      CNY     40.90
JINZHAI URBAN DEVELOPME    5.90      04/25/23      CNY     40.91
JINZHOU CITY INVESTMENT    6.44      08/18/21      CNY     19.95
JINZHOU CITY INVESTMENT    6.44      08/18/21      CNY     24.91
JISHOU HUATAI STATE OWN    7.18      02/09/22      CNY     20.03
JISHOU HUATAI STATE OWN    7.18      02/09/22      CNY     22.82
JIUJIANG CITY CONSTRUCT    5.50      05/22/22      CNY     39.55
JIUJIANG CITY CONSTRUCT    5.50      05/22/22      CNY     40.39
JIUJIANG LAND INVESTMEN    6.20      03/23/22      CNY     20.36
JIUJIANG LAND INVESTMEN    6.20      03/23/22      CNY     20.42
JIUJIANG LIANXI DISTRIC    4.58      03/30/23      CNY     39.58
JIUJIANG LIANXI DISTRIC    4.58      03/30/23      CNY     39.68
JIXI STATE OWN ASSET MA    6.87      01/19/22      CNY     19.54
JIXI STATE OWN ASSET MA    6.87      01/19/22      CNY     20.85
KAIFENG URBAN OPERATION    6.35      03/23/22      CNY     19.92
KAIFENG URBAN OPERATION    6.35      03/23/22      CNY     19.92
KAIFU CITY DEVELOPMENT     4.20      01/21/23      CNY     38.50
KAIFU CITY DEVELOPMENT     4.20      01/21/23      CNY     39.95
KAIFU CITY DEVELOPMENT     3.73      08/22/23      CNY     59.14
KAIFU CITY DEVELOPMENT     3.73      08/22/23      CNY     59.49
KAILI GUIZHOU TOWN CONS    5.29      12/17/22      CNY     38.70
KAILI GUIZHOU TOWN CONS    5.29      12/17/22      CNY     40.00
KAILI GUIZHOU TOWN CONS    4.20      10/13/23      CNY     56.34
KAILI GUIZHOU TOWN CONS    4.20      10/13/23      CNY     56.92
KANGMEI PHARMACEUTICAL     5.50      04/20/21      CNY      5.28
KANGMEI PHARMACEUTICAL     6.80      06/28/21      CNY      5.63
KANGMEI PHARMACEUTICAL     6.28      03/20/21      CNY     20.50
KANGMEI PHARMACEUTICAL     6.10      03/28/21      CNY     20.50
KANGMEI PHARMACEUTICAL     5.20      07/17/22      CNY     20.50
KANGMEI PHARMACEUTICAL     5.29      08/16/22      CNY     20.50
KANGMEI PHARMACEUTICAL     5.47      09/15/22      CNY     20.50
KANGMEI PHARMACEUTICAL     7.00      06/21/21      CNY     20.69
KANGMEI PHARMACEUTICAL     6.33      01/27/22      CNY     36.69
KASHI URBAN CONSTRUCTIO    5.80      07/20/22      CNY     39.74
KASHI URBAN CONSTRUCTIO    5.80      07/20/22      CNY     40.00
KUNMING DONGJUN REAL ES    4.50      11/02/21      CNY     24.70
KUNSHAN COMMUNICATION D    6.95      05/22/21      CNY     20.07
KUNSHAN COMMUNICATION D    6.95      05/22/21      CNY     25.45
LANZHOU STATE OWNED ASS    6.32      09/10/21      CNY     14.90
LANZHOU STATE OWNED ASS    6.32      09/10/21      CNY     19.90
LAOHEKOU CITY CONSTRUCT    6.75      08/12/22      CNY     39.82
LAOHEKOU CITY CONSTRUCT    6.75      08/12/22      CNY     39.94
LEIYANG CITY AND RURAL     7.80      04/10/22      CNY     20.58
LEIYANG CITY AND RURAL     7.80      04/10/22      CNY     20.58
LEPING STATE-OWNED ASSE    3.70      10/20/23      CNY     58.50
LEPING STATE-OWNED ASSE    3.70      10/20/23      CNY     59.04
LEQING CITY STATE OWNED    5.99      10/20/21      CNY     20.21
LEQING CITY STATE OWNED    5.99      10/20/21      CNY     20.85
LESHAN STATE-OWNED ASSE    5.68      10/22/21      CNY     20.00
LESHAN STATE-OWNED ASSE    5.68      10/22/21      CNY     20.20
LIANYUNGANG TRANSPORT G    5.47      11/17/21      CNY     20.21
LIANYUNGANG TRANSPORT G    5.47      11/17/21      CNY     25.00
LIAOCHENG ANTAI URBAN R    4.58      04/11/23      CNY     38.82
LIAOCHENG ANTAI URBAN R    5.16      04/11/23      CNY     39.11
LIAOCHENG ANTAI URBAN R    5.16      04/11/23      CNY     39.15
LIAOCHENG ANTAI URBAN R    4.58      04/11/23      CNY     39.84
LIAOCHENG XINGYE ECONOM    5.20      04/13/23      CNY     38.94
LIAOCHENG XINGYE ECONOM    5.20      04/13/23      CNY     38.99
LIAONING GUANLONG CONST    4.70      11/10/23      CNY     58.17
LIAONING GUANLONG CONST    4.70      11/10/23      CNY     58.21
LIAONING YAODU DEVELOPM    6.50      04/29/23      CNY     59.99
LILING HIGH-TECH INDUST    4.93      01/19/23      CNY     38.81
LILING HIGH-TECH INDUST    4.93      01/19/23      CNY     39.80
LINFEN YAODU DISTRICT I    7.19      03/13/22      CNY     20.02
LINYI CITY DEVELOPMENT     3.85      11/22/23      CNY     59.48
LINYI CITY DEVELOPMENT     3.85      11/22/23      CNY     60.04
LISHUI CITY CULTURAL TO    5.67      08/13/22      CNY     40.51
LISHUI CITY CULTURAL TO    5.67      08/13/22      CNY     40.55
LIUPANSHUI DEVELOPMENT     3.74      01/20/23      CNY     38.70
LIUPANSHUI DEVELOPMENT     3.74      01/20/23      CNY     39.74
LIUPANSHUI MINSHENG INV    5.08      01/29/23      CNY     38.10
LIUPANSHUI MINSHENG INV    5.08      01/29/23      CNY     39.19
LIUYANG MODERN MANUFACT    4.72      01/19/23      CNY     39.53
LIUYANG MODERN MANUFACT    4.72      01/19/23      CNY     39.71
LIUYANG URBAN CONSTRUCT    6.98      08/22/21      CNY     16.77
LIUYANG URBAN CONSTRUCT    6.98      08/22/21      CNY     20.20
LIUYANG URBAN CONSTRUCT    4.45      05/24/23      CNY     60.17
LIUYANG URBAN CONSTRUCT    4.45      05/24/23      CNY     60.38
LIUZHOU CITY INVESTMENT    7.18      12/31/22      CNY     29.40
LIUZHOU CITY INVESTMENT    7.18      12/31/22      CNY     29.90
LIUZHOU DONGTONG INVEST    4.45      07/22/23      CNY     57.64
LIUZHOU DONGTONG INVEST    4.45      07/22/23      CNY     57.81
LIUZHOU INVESTMENT HOLD    4.28      03/08/23      CNY     38.84
LIUZHOU INVESTMENT HOLD    4.28      03/08/23      CNY     39.75
LIUZHOU LONGJIAN INVEST    8.28      04/30/24      CNY     49.58
LIUZHOU LONGJIAN INVEST    8.28      04/30/24      CNY     61.46
LIYANG KUNLUN URBAN CON    5.90      10/24/21      CNY     18.00
LIYANG KUNLUN URBAN CON    5.90      10/24/21      CNY     20.20
LONGHAI STATE-OWNED ASS    6.58      08/15/21      CNY     20.08
LONGYAN RAILWAY CONSTRU    4.98      04/13/23      CNY     39.05
LONGYAN RAILWAY CONSTRU    4.98      04/13/23      CNY     39.78
LOUDI TIDU INVESTMENT D    7.18      08/27/21      CNY     20.00
LOUDI TIDU INVESTMENT D    7.18      08/27/21      CNY     20.07
LOUDI TIDU INVESTMENT D    4.83      01/20/23      CNY     39.43
LOUDI TIDU INVESTMENT D    4.83      01/20/23      CNY     39.75
LOUDI WANBAO NEW DISTRI    5.13      02/01/23      CNY     39.01
LOUDI WANBAO NEW DISTRI    5.13      02/01/23      CNY     39.25
LOUDI WANBAO NEW DISTRI    4.42      08/01/23      CNY     57.63
LOUDI WANBAO NEW DISTRI    4.42      08/01/23      CNY     58.28
LU'AN CITY CONSTRUCTION    5.05      04/26/21      CNY     50.01
LUJIANG CITY CONSTRUCTI    6.70      04/16/22      CNY     20.00
LUJIANG CITY CONSTRUCTI    6.70      04/16/22      CNY     20.49
LUOYANG CITY COUNTRY CO    4.28      04/26/23      CNY     36.67
LUOYANG CITY COUNTRY CO    4.28      04/26/23      CNY     39.79
LUOYANG CITY DEVELOPMEN    4.47      12/02/22      CNY     40.00
LUOYANG CITY DEVELOPMEN    4.47      12/02/22      CNY     40.18
LUZHOU FUYANG INVESTMEN    5.00      08/11/23      CNY     59.79
LUZHOU FUYANG INVESTMEN    5.00      08/11/23      CNY     59.80
LUZHOU XINGLU INVESTMEN    6.41      04/23/25      CNY     60.00
LUZHOU XINGLU INVESTMEN    6.41      04/23/25      CNY     73.49
LUZHOU XINGYANG INVESTM    4.87      01/28/23      CNY     39.25
LUZHOU XINGYANG INVESTM    4.87      01/28/23      CNY     39.34
MA'ANSHAN CIHU HIGH TEC    6.85      09/09/21      CNY     20.19
MA'ANSHAN CIHU HIGH TEC    6.85      09/09/21      CNY     23.00
MA'ANSHAN CIHU HIGH TEC    3.90      11/28/23      CNY     59.19
MA'ANSHAN CIHU HIGH TEC    3.90      11/28/23      CNY     60.40
MAANSHAN ECONOMIC TECHN    6.49      03/06/22      CNY     20.11
MAANSHAN ECONOMIC TECHN    6.49      03/06/22      CNY     24.99
MAANSHAN HUASHAN DISTRI    6.07      04/20/22      CNY     16.93
MAANSHAN HUASHAN DISTRI    6.07      04/20/22      CNY     19.88
MAANSHAN NINGBO INVESTM    7.50      04/18/26      CNY     40.00
MAANSHAN SOUTHERN INDUS    4.53      07/25/23      CNY     57.83
MAANSHAN SOUTHERN INDUS    4.43      09/02/23      CNY     58.22
MAANSHAN SOUTHERN INDUS    4.53      07/25/23      CNY     58.39
MAANSHAN SOUTHERN INDUS    4.43      09/02/23      CNY     58.50
MEISHAN CITY DONGPO DEV    5.90      06/30/23      CNY     58.37
MEISHAN CITY DONGPO DEV    5.90      06/30/23      CNY     58.57
MEISHAN HONGDA CONSTRUC    4.18      03/28/23      CNY     38.80
MEISHAN HONGDA CONSTRUC    4.18      03/28/23      CNY     38.90
MEIZHOU CITY XIN JIN YE    6.02      04/22/22      CNY     20.40
MEIZHOU CITY XIN JIN YE    6.02      04/22/22      CNY     25.32
MEIZHOU MEI COUNTY DIST    5.00      12/30/22      CNY     39.80
MEIZHOU MEI COUNTY DIST    5.00      12/30/22      CNY     40.00
MUDANJIANG AREA URBAN D    6.48      06/30/22      CNY     39.84
MUDANJIANG AREA URBAN D    6.48      06/30/22      CNY     45.00
MUNICIPALITY OF SHENZHE    3.00      03/29/22      CNY     20.00
MUNICIPALITY OF SHENZHE    3.00      03/29/22      CNY     20.00
MUNICIPALITY OF SHENZHE    3.37      03/29/26      CNY     69.66
MUNICIPALITY OF SHENZHE    3.37      03/29/26      CNY     69.66
MUNICIPALITY OF SHENZHE    3.37      03/29/26      CNY     70.12
MUNICIPALITY OF SHENZHE    3.37      03/29/26      CNY     75.00
MUNICIPALITY OF SHENZHE    3.37      03/29/26      CNY     75.00
NANCHANG ECONOMY TECHNO    3.83      09/22/23      CNY     59.21
NANCHANG ECONOMY TECHNO    3.83      09/22/23      CNY     59.73
NANCHONG AIRPORT INVEST    6.80      01/26/22      CNY     19.95
NANCHONG AIRPORT INVEST    6.80      01/26/22      CNY     19.99
NANJING BAIXIA STATE-OW    3.98      03/29/23      CNY     40.11
NANJING BAIXIA STATE-OW    3.98      03/29/23      CNY     40.24
NANJING HEXI NEW TOWN A    3.20      07/22/21      CNY     39.76
NANJING JIANGNING ECONO    7.94      04/14/24      CNY     39.91
NANJING JIANGNING ECONO    7.94      04/14/24      CNY     48.10
NANJING JIANGNING URBAN    3.48      11/11/23      CNY     59.71
NANJING JIANGNING URBAN    3.48      11/11/23      CNY     59.84
NANJING JIANYE SCIENCE     4.37      06/24/23      CNY     59.84
NANJING JIANYE SCIENCE     4.37      06/24/23      CNY     60.16
NANJING LISHUI ECONOMIC    6.27      09/22/21      CNY     20.09
NANJING LISHUI ECONOMIC    6.27      09/22/21      CNY     21.29
NANJING LISHUI ECONOMIC    3.41      11/09/23      CNY     59.37
NANJING LISHUI ECONOMIC    3.41      11/09/23      CNY     59.50
NANJING LISHUI URBAN CO    4.97      04/28/23      CNY     59.16
NANJING LISHUI URBAN CO    4.97      04/28/23      CNY     59.95
NANJING METRO GROUP CO     3.29      08/29/23      CNY     59.50
NANJING METRO GROUP CO     3.29      08/29/23      CNY     60.03
NANJING QIXIA STATE-OWN    4.10      06/24/23      CNY     60.05
NANJING QIXIA STATE-OWN    4.10      06/24/23      CNY     60.40
NANJING STATE OWNED ASS    5.60      03/06/23      CNY     30.77
NANJING STATE OWNED ASS    5.60      03/06/23      CNY     30.85
NANJING TANGSHAN CONSTR    6.80      06/30/21      CNY     20.12
NANJING TANGSHAN CONSTR    6.80      06/30/21      CNY     26.80
NANNING HI-TECH INDUSTR    4.28      03/25/23      CNY     35.20
NANNING HI-TECH INDUSTR    4.28      03/25/23      CNY     39.50
NANNING HI-TECH INDUSTR    3.82      10/20/23      CNY     57.56
NANNING HI-TECH INDUSTR    3.82      10/20/23      CNY     58.74
NANNING LVGANG CONSTRUC    7.30      06/27/21      CNY     20.06
NANNING LVGANG CONSTRUC    7.30      06/27/21      CNY     24.80
NANPING CITY WUYI NEW D    4.96      09/28/22      CNY     40.16
NANPING CITY WUYI NEW D    4.96      09/28/22      CNY     40.20
NANTONG CHONGCHUAN URBA    5.70      07/21/22      CNY     70.00
NANTONG CHONGCHUAN URBA    5.70      07/21/22      CNY     70.75
NANTONG CITY TONGZHOU D    4.88      04/10/24      CNY     50.51
NANTONG CITY TONGZHOU D    3.75      07/07/23      CNY     59.90
NANTONG CITY TONGZHOU D    3.75      07/07/23      CNY     59.93
NANTONG CITY TONGZHOU D    4.88      04/10/24      CNY     61.17
NANTONG CITY XINGCHUAN     3.80      09/06/21      CNY     39.84
NANTONG CITY XINGCHUAN     3.80      09/06/21      CNY     40.01
NANTONG HIGH TECHNOLOGY    5.00      10/19/22      CNY     40.21
NANTONG HIGH TECHNOLOGY    5.00      10/19/22      CNY     41.52
NANTONG SUTONG SCIENCE     6.20      03/18/22      CNY     19.95
NANTONG SUTONG SCIENCE     6.20      03/18/22      CNY     20.00
NANYANG HIGH-TECH DISTR    6.45      04/29/23      CNY     59.68
NANYANG HIGH-TECH DISTR    6.45      04/29/23      CNY     60.71
NANZHANG COUNTY CONSTRU    6.00      01/20/24      CNY     59.92
NANZHANG COUNTY CONSTRU    6.00      01/20/24      CNY     61.22
NEIJIANG CITY XINGYUAN     4.28      08/16/23      CNY     57.69
NEIJIANG CITY XINGYUAN     4.28      08/16/23      CNY     58.04
NEIJIANG STATE-OWNED AS    6.20      04/12/23      CNY     39.35
NEIJIANG STATE-OWNED AS    6.20      04/12/23      CNY     39.51
NEIJINAG CONSTRUCTION E    5.03      12/25/22      CNY     36.36
NEIJINAG CONSTRUCTION E    5.03      12/25/22      CNY     39.50
NEOGLORY HOLDING GROUP     8.00      10/22/20      CNY     56.00
NEOGLORY HOLDING GROUP     8.00      09/25/20      CNY     60.00
NEOGLORY HOLDING GROUP     8.10      11/23/18      CNY     72.00
NINGBO CITY ZHENHAI INV    5.85      12/04/21      CNY     20.15
NINGBO CITY ZHENHAI INV    5.85      12/04/21      CNY     20.17
NINGBO FENGHUA INVESTME    4.58      03/28/22      CNY     50.00
NINGBO FENGHUA INVESTME    4.58      03/28/22      CNY     50.38
NINGBO MEISHAN ISLAND D    6.27      03/23/22      CNY     20.20
NINGBO MEISHAN ISLAND D    6.27      03/23/22      CNY     28.29
NINGGUO CITY STATE OWNE    8.70      04/28/21      CNY     20.00
NINGGUO CITY STATE OWNE    8.70      04/28/21      CNY     20.00
NINGXIA SHENG YAN INDUS    7.50      09/27/23      CNY     42.45
NINGXIANG CITY CONSTRUC    6.70      01/20/22      CNY     20.20
NINGXIANG CITY CONSTRUC    6.70      01/20/22      CNY     20.37
NINGXIANG ECONOMIC TECH    3.87      01/27/23      CNY     39.79
NINGXIANG ECONOMIC TECH    3.87      01/27/23      CNY     40.00
NINGXIANG STATE-OWNED A    3.88      11/02/23      CNY     57.98
NINGXIANG STATE-OWNED A    3.88      11/02/23      CNY     58.12
NINGXIANG STATE-OWNED A    4.89      06/03/23      CNY     58.76
NINGXIANG STATE-OWNED A    4.89      06/03/23      CNY     58.91
ONE BELT ONE ROAD JIANG    4.70      07/15/23      CNY     60.17
ONE BELT ONE ROAD JIANG    4.70      07/15/23      CNY     60.18
PANJIN WATER GROUP CO L    5.18      10/28/23      CNY     57.30
PANJIN WATER GROUP CO L    5.18      10/28/23      CNY     58.99
PANSHAN COUNTY STATE-OW    7.48      01/21/22      CNY     20.17
PANSHAN COUNTY STATE-OW    7.48      01/21/22      CNY     20.17
PANZHIHUA STATE OWNED A    8.18      03/13/22      CNY     20.20
PANZHIHUA STATE OWNED A    8.18      03/13/22      CNY     20.53
PEIXIAN CITY INVESTMENT    5.20      11/10/22      CNY     40.00
PEIXIAN CITY INVESTMENT    5.20      11/10/22      CNY     40.13
PEKING UNIVERSITY FOUND    6.20      05/31/20      CNY     11.00
PEKING UNIVERSITY FOUND    6.15      07/23/20      CNY     11.00
PEKING UNIVERSITY FOUND    6.30      09/12/20      CNY     11.00
PEKING UNIVERSITY FOUND    4.80      07/26/21      CNY     11.00
PEKING UNIVERSITY FOUND    6.10      08/22/21      CNY     11.00
PEKING UNIVERSITY FOUND    5.99      11/02/21      CNY     11.00
PEKING UNIVERSITY FOUND    5.80      01/28/22      CNY     11.00
PEKING UNIVERSITY FOUND    6.68      08/09/23      CNY     11.00
PEKING UNIVERSITY FOUND    6.50      11/16/23      CNY     11.00
PEKING UNIVERSITY FOUND    6.30      03/04/24      CNY     11.00
PENGZHOU STATE-PENGZHOU    3.95      10/20/23      CNY     56.69
PENGZHOU STATE-PENGZHOU    3.95      10/20/23      CNY     57.60
PINGHU CITY INVESTMENT     5.13      04/29/23      CNY     60.23
PINGHU CITY INVESTMENT     5.13      04/29/23      CNY     60.62
PINGLIANG CULTURAL & TO    6.85      11/30/22      CNY     36.00
PINGLIANG CULTURAL & TO    6.85      11/30/22      CNY     40.02
PINGTAN COMPREHENSIVE P    3.92      01/29/23      CNY     39.64
PINGTAN COMPREHENSIVE P    3.92      01/29/23      CNY     40.10
PINGXIANG CHANGXING INV    5.26      04/11/23      CNY     38.83
PINGXIANG CHANGXING INV    5.26      04/11/23      CNY     39.37
PINGXIANG HUIFENG INVES    6.60      01/26/22      CNY     19.96
PINGXIANG HUIFENG INVES    6.60      01/26/22      CNY     20.54
PINGYANG STATE-OWNED AS    4.97      01/08/23      CNY     40.00
PINGYANG STATE-OWNED AS    4.97      01/08/23      CNY     40.30
PIZHOU CITY HENGRUN INV    6.46      12/05/21      CNY     20.25
PIZHOU CITY HENGRUN INV    6.46      12/05/21      CNY     22.46
PIZHOU ECONOMIC DEVELOP    5.00      10/29/22      CNY     39.50
PIZHOU ECONOMIC DEVELOP    5.00      10/29/22      CNY     40.00
PUTIAN HIGH TECHNOLOGY     5.90      05/03/22      CNY     25.17
PUTIAN HIGH TECHNOLOGY     5.90      05/03/22      CNY     25.19
QIANAN URBAN CONSTRUCTI    7.19      08/11/21      CNY     20.00
QIANAN URBAN CONSTRUCTI    7.19      08/11/21      CNY     20.09
QIANAN XINGYUAN WATER I    6.25      04/22/22      CNY     20.38
QIANAN XINGYUAN WATER I    6.25      04/22/22      CNY     40.36
QIANDONGNAN TRANSPORTAT    5.79      12/21/22      CNY     37.20
QIANDONGNAN TRANSPORTAT    5.79      12/21/22      CNY     38.05
QIANDONGNANZHOU KAIHONG    5.30      09/22/26      CNY     64.49
QIANDONGNANZHOU KAIHONG    5.30      09/22/26      CNY     64.59
QIANJIANG URBAN CONSTRU    5.19      12/21/22      CNY     39.77
QIANJIANG URBAN CONSTRU    5.19      12/21/22      CNY     40.00
QIANNAN AUTONOMOUS PREF    6.99      04/19/24      CNY     58.13
QIANNAN AUTONOMOUS PREF    6.99      04/19/24      CNY     58.26
QIANNANZHOU INVESTMENT     6.43      03/09/22      CNY     19.00
QIANNANZHOU INVESTMENT     6.43      03/09/22      CNY     19.41
QIANNANZHOU INVESTMENT     6.77      07/28/24      CNY     71.75
QIANXINAN AUTONOMOUS RE    5.90      06/22/23      CNY     59.33
QIANXINAN AUTONOMOUS RE    5.90      06/22/23      CNY     59.43
QICHUN COUNTY CONSTRUCT    4.96      10/18/23      CNY     58.17
QICHUN COUNTY CONSTRUCT    4.96      10/18/23      CNY     58.25
QIDONG COMMUNICATIONS I    4.00      03/18/23      CNY     39.85
QIDONG COMMUNICATIONS I    4.00      03/18/23      CNY     39.95
QIDONG STATE-OWNED ASSE    7.30      11/20/22      CNY     30.87
QIDONG STATE-OWNED ASSE    7.30      11/20/22      CNY     31.00
QIDONG STATE-OWNED ASSE    4.00      03/09/23      CNY     39.72
QIDONG STATE-OWNED ASSE    4.00      03/09/23      CNY     40.28
QIDONG URBAN CONSTRUCTI    7.90      04/28/21      CNY     20.00
QIHE CITY OPERATION CON    5.10      03/07/23      CNY     39.14
QIHE CITY OPERATION CON    5.10      03/07/23      CNY     39.62
QINGDAO CHANGYANG INVES    3.73      09/12/23      CNY     57.62
QINGDAO CHANGYANG INVES    3.73      09/12/23      CNY     58.20
QINGDAO CONSON DEVELOPM    6.40      12/12/22      CNY     30.76
QINGDAO CONSON DEVELOPM    6.40      12/12/22      CNY     31.05
QINGDAO HICREAT DEVELOP    6.88      04/25/21      CNY     20.00
QINGDAO HICREAT DEVELOP    6.88      04/25/21      CNY     21.13
QINGDAO JIAOZHOU BAY DE    6.33      09/18/21      CNY     20.23
QINGDAO JIAOZHOU BAY DE    6.33      09/18/21      CNY     21.30
QINGDAO JIMO CITY TOURI    5.47      11/17/21      CNY     20.17
QINGDAO JIMO CITY TOURI    5.47      11/17/21      CNY     20.40
QINGDAO OCEAN INVESTMEN    4.36      05/12/23      CNY     60.05
QINGDAO OCEAN INVESTMEN    4.36      05/12/23      CNY     60.06
QINGDAO WEST COAST DEVE    4.26      06/06/23      CNY     59.60
QINGDAO WEST COAST DEVE    4.26      06/06/23      CNY     60.25
QINGHAI PROVINCIAL INVE    7.88      03/22/21      USD     30.00
QINGHAI PROVINCIAL INVE    7.25      02/22/20      USD     30.00
QINGHAI PROVINCIAL INVE    6.40      07/10/21      USD     33.88
QINGHAI STATE-OWNED ASS    5.40      05/21/23      CNY     32.88
QINGHAI STATE-OWNED ASS    6.38      08/14/28      CNY     36.00
QINGHAI STATE-OWNED ASS    7.20      11/25/28      CNY     36.00
QINGHAI STATE-OWNED ASS    6.70      10/10/29      CNY     36.00
QINGHAI STATE-OWNED ASS    5.90      12/17/22      CNY     36.10
QINGZHOU CITY CONSTRUCT    6.80      08/25/24      CNY     65.01
QINGZHOU HONGYUAN PUBLI    7.59      05/29/21      CNY     20.01
QINHUANGDAO CITY DEVELO    4.69      04/14/23      CNY     38.88
QINHUANGDAO CITY DEVELO    4.69      04/14/23      CNY     40.38
QINHUANGDAO DEVELOPMENT    4.07      08/26/23      CNY     57.33
QINHUANGDAO DEVELOPMENT    4.07      08/26/23      CNY     57.97
QINZHOU BINHAI NEW CITY    6.99      07/07/21      CNY     20.00
QINZHOU BINHAI NEW CITY    6.99      07/07/21      CNY     20.01
QIONGLAI CITY CONSTRUCT    6.98      03/25/22      CNY     20.27
QIONGLAI CITY CONSTRUCT    6.98      03/25/22      CNY     20.80
QUANJIAO URBAN INFRASTR    5.10      05/18/23      CNY     59.85
QUANJIAO URBAN INFRASTR    5.10      05/18/23      CNY     59.88
QUJING CITY QILIN DISTR    5.37      11/26/22      CNY     39.42
QUJING CITY QILIN DISTR    5.37      11/26/22      CNY     41.95
QUJING DEVELOPMENT INVE    7.48      04/28/21      CNY     20.00
QUJING DEVELOPMENT INVE    7.48      04/28/21      CNY     22.55
QUJING ECO TECH DEVELOP    7.48      07/21/21      CNY     19.92
QUJING ECO TECH DEVELOP    7.48      07/21/21      CNY     20.02
QUJING ECO TECH DEVELOP    5.75      06/01/23      CNY     59.00
QUJING ECO TECH DEVELOP    5.75      06/01/23      CNY     59.35
RENHUAI CITY DEVELOPMEN    8.09      05/16/21      CNY     20.03
RENHUAI CITY DEVELOPMEN    8.09      05/16/21      CNY     20.04
RENHUAI CITY DEVELOPMEN    5.12      04/14/23      CNY     38.55
RENHUAI CITY DEVELOPMEN    5.12      04/14/23      CNY     38.56
RENQIU CONSTRUCTION INV    5.68      11/18/22      CNY     40.26
RENQIU CONSTRUCTION INV    5.68      11/18/22      CNY     41.09
RENSHOU DEVELOPMENT OF     6.42      12/22/22      CNY     38.47
RENSHOU DEVELOPMENT OF     6.42      12/22/22      CNY     40.00
REWARD SCIENCE AND TECH    5.53      07/05/21      CNY     29.10
REWARD SCIENCE AND TECH    6.40      03/03/22      CNY     70.00
RIGHT WAY REAL ESTATE D    8.00      07/15/21      CNY     43.89
RIZHAO CITY CONSTRUCTIO    3.98      12/07/22      CNY     39.72
RIZHAO CITY CONSTRUCTIO    3.98      12/07/22      CNY     39.78
RUCHENG COUNTY URBAN CO    5.69      02/23/24      CNY     71.67
RUCHENG COUNTY URBAN CO    5.69      02/23/24      CNY     71.68
RUDONG COUNTY DONGTAI S    6.99      06/20/21      CNY     20.05
RUDONG COUNTY DONGTAI S    6.99      06/20/21      CNY     25.90
RUDONG COUNTY JINXIN TR    4.57      07/26/23      CNY     59.53
RUDONG COUNTY JINXIN TR    3.80      07/26/23      CNY     59.65
RUDONG COUNTY JINXIN TR    3.80      07/26/23      CNY     59.69
RUDONG COUNTY JINXIN TR    4.57      07/26/23      CNY     60.10
RUDONG COUNTY KAITAI CI    4.57      01/08/23      CNY     40.11
RUDONG NEW WORLD INVEST    4.37      07/18/23      CNY     58.31
RUDONG NEW WORLD INVEST    4.37      07/18/23      CNY     58.68
RUGAO COMMUNICATIONS CO    3.74      03/23/23      CNY     40.07
RUGAO COMMUNICATIONS CO    3.74      03/23/23      CNY     40.13
RUGAO ECONOMIC & TRADE     3.95      03/24/23      CNY     39.58
RUGAO ECONOMIC & TRADE     3.95      03/24/23      CNY     39.76
RUIAN STATE OWNED ASSET    4.56      01/27/23      CNY     39.66
RUIAN STATE OWNED ASSET    4.56      01/27/23      CNY     40.35
RUICHANG CITY INVESTMEN    5.68      03/25/23      CNY     38.78
RUICHANG CITY INVESTMEN    5.68      03/25/23      CNY     40.21
RUICHANG CITY INVESTMEN    5.50      06/17/23      CNY     58.98
RUICHANG CITY INVESTMEN    5.50      06/17/23      CNY     60.14
RUIJIN URBAN DEVELOPMEN    4.13      09/06/23      CNY     58.78
RUIJIN URBAN DEVELOPMEN    4.13      09/06/23      CNY     58.82
RUZHOU CITY XINYUAN INV    6.30      09/16/21      CNY     24.00
RUZHOU CITY XINYUAN INV    6.30      09/16/21      CNY     24.83
RUZHOU CITY XINYUAN INV    4.43      09/26/23      CNY     56.57
RUZHOU CITY XINYUAN INV    4.43      09/26/23      CNY     56.63
SANMEN COUNTY STATE-OWN    6.85      10/29/21      CNY     20.00
SANMEN COUNTY STATE-OWN    6.80      03/18/22      CNY     20.00
SANMEN COUNTY STATE-OWN    6.85      10/29/21      CNY     20.19
SANMEN COUNTY STATE-OWN    6.80      03/18/22      CNY     20.21
SANMING STATE-OWNED ASS    5.10      04/17/24      CNY     60.94
SANMING STATE-OWNED ASS    5.10      04/17/24      CNY     61.38
SANMING TRANSPORTATION     3.68      03/29/23      CNY     39.00
SANMING TRANSPORTATION     3.68      03/29/23      CNY     39.74
SHAANXI ANKANG HIGH TEC    8.78      09/17/21      CNY     20.29
SHAANXI ANKANG HIGH TEC    8.78      09/17/21      CNY     27.00
SHAANXI XIXIAN NEW AREA    5.10      06/06/23      CNY     59.35
SHAANXI XIXIAN NEW AREA    5.10      06/06/23      CNY     59.35
SHAANXI XIXIAN NEW AREA    6.85      08/15/21      CNY     20.00
SHAANXI XIXIAN NEW AREA    6.85      08/15/21      CNY     20.04
SHAANXI XIXIAN NEW AREA    6.89      01/05/22      CNY     19.98
SHAANXI XIXIAN NEW AREA    6.89      01/05/22      CNY     25.10
SHAANXI XIXIAN NEW AREA    5.15      11/27/22      CNY     39.79
SHAANXI XIXIAN NEW AREA    5.15      11/27/22      CNY     41.01
SHANDONG BORUN INDUSTRI    6.50      11/02/21      CNY     33.19
SHANDONG BOXING COUNTY     8.00      12/22/21      CNY     20.50
SHANDONG BOXING COUNTY     8.00      12/22/21      CNY     20.50
SHANDONG CENTURY SUNSHI    8.19      07/21/21      CNY     20.04
SHANDONG CENTURY SUNSHI    8.19      07/21/21      CNY     20.19
SHANDONG FUYU CHEMICAL     7.70      09/18/22      CNY     70.00
SHANDONG GAOCHUANG CONS    6.05      06/18/22      CNY     40.37
SHANDONG GAOCHUANG CONS    6.05      06/18/22      CNY     42.45
SHANDONG HONGHE HOLDING    8.50      06/23/21      CNY     20.14
SHANDONG HONGHE HOLDING    8.50      06/23/21      CNY     24.00
SHANDONG RUYI TECHNOLOG    7.90      09/18/23      CNY     52.10
SHANDONG SNTON GROUP CO    5.18      09/08/21      CNY      8.52
SHANDONG SNTON GROUP CO    6.20      05/30/21      CNY      9.50
SHANDONG TENGJIAN INVES    6.00      06/08/22      CNY     40.00
SHANDONG TENGJIAN INVES    6.00      06/08/22      CNY     40.08
SHANDONG WANTONG PETROL    7.97      11/29/21      CNY      0.20
SHANGHAI MINHANG URBAN     5.63      04/20/22      CNY     20.45
SHANGHAI MINHANG URBAN     5.63      04/20/22      CNY     20.47
SHANGHAI MUNICIPAL INVE    4.80      11/05/24      CNY     60.41
SHANGHAI MUNICIPAL INVE    4.80      11/05/24      CNY     61.45
SHANGHAI NANHUI URBAN C    6.04      08/20/21      CNY     20.13
SHANGHAI NANHUI URBAN C    6.04      08/20/21      CNY     20.33
SHANGHAI URBAN CONSTRUC    3.50      01/06/23      CNY     39.62
SHANGHAI URBAN CONSTRUC    3.50      01/06/23      CNY     40.03
SHANGRAO CITY STATE-OWN    4.65      01/29/23      CNY     39.94
SHANGRAO CITY STATE-OWN    4.65      01/29/23      CNY     40.33
SHANTOU CITY CONSTRUCTI    8.57      03/23/22      CNY     15.60
SHANTOU CITY CONSTRUCTI    8.57      03/23/22      CNY     15.65
SHANTOU INVESTMENT HOLD    7.99      03/04/24      CNY     48.05
SHANTOU INVESTMENT HOLD    7.99      03/04/24      CNY     48.10
SHANXI INTERNATIONAL EL    5.88      05/24/22      CNY     51.83
SHANXI XIANG KUANG GROU    8.80      02/11/22      CNY     24.50
SHANXI XIANG KUANG GROU    8.80      02/11/22      CNY     41.13
SHAODONG NEW AREA DEVEL    7.10      04/19/24      CNY     62.09
SHAODONG NEW AREA DEVEL    7.10      04/19/24      CNY     62.10
SHAOGUAN URBAN INVESTME    3.67      10/25/24      CNY     68.28
SHAOGUAN URBAN INVESTME    3.67      10/25/24      CNY     68.58
SHAOWU URBAN CONSTRUCTI    5.88      09/11/22      CNY     40.04
SHAOWU URBAN CONSTRUCTI    5.88      09/11/22      CNY     43.39
SHAOXING CHENGZHONGCUN     6.09      04/27/22      CNY     40.39
SHAOXING CHENGZHONGCUN     6.09      04/27/22      CNY     40.44
SHAOXING CITY INVESTMEN    5.75      04/17/22      CNY     20.50
SHAOXING CITY INVESTMEN    5.75      04/17/22      CNY     28.00
SHAOXING CITY KEQIAO DI    6.40      08/20/21      CNY     20.18
SHAOXING CITY KEQIAO DI    6.40      08/20/21      CNY     20.48
SHAOXING JINGHU NEW DIS    6.13      04/30/22      CNY     33.57
SHAOXING JINGHU NEW DIS    6.13      04/30/22      CNY     40.55
SHAOXING KEQIAO CITY CO    3.64      09/19/23      CNY     59.58
SHAOXING KEQIAO CITY CO    3.64      09/19/23      CNY     59.60
SHAOXING KEQIAO ECONOMI    7.00      12/10/21      CNY     20.00
SHAOXING KEQIAO ECONOMI    7.00      12/10/21      CNY     20.40
SHAOXING KEYAN CONSTRUC    6.28      03/24/22      CNY     20.00
SHAOXING KEYAN CONSTRUC    6.28      03/24/22      CNY     20.22
SHAOXING PAOJIANG INDUS    6.98      05/29/21      CNY     20.08
SHAOXING PAOJIANG INDUS    6.98      05/29/21      CNY     23.90
SHAOXING SHANGYU ECONOM    4.76      04/11/23      CNY     40.02
SHAOXING SHANGYU ECONOM    4.76      04/11/23      CNY     40.14
SHAOXING SHANGYU URBAN     6.80      08/07/21      CNY     20.19
SHAOXING SHANGYU URBAN     6.80      08/07/21      CNY     21.15
SHAOYANG BAOQING INDUST    5.78      07/04/26      CNY     68.10
SHAOYANG DULIANG INVEST    5.50      04/13/23      CNY     36.67
SHAOYANG DULIANG INVEST    5.50      04/13/23      CNY     39.33
SHENGZHOU INVESTMENT HO    7.60      07/17/21      CNY     20.17
SHENGZHOU INVESTMENT HO    7.60      07/17/21      CNY     20.59
SHENMU CITY STATE-OWNED    7.28      06/23/21      CNY     20.09
SHENMU CITY STATE-OWNED    7.28      06/23/21      CNY     20.19
SHENYANG DADONG STATE-O    6.05      03/20/22      CNY     20.00
SHENYANG DADONG STATE-O    6.05      03/20/22      CNY     20.17
SHENYANG ECONOMIC AFFOR    7.17      04/29/22      CNY     38.01
SHENYANG ECONOMIC AFFOR    7.17      04/29/22      CNY     39.72
SHENYANG TIEXI STATE-OW    6.00      01/14/22      CNY     20.20
SHENYANG TIEXI STATE-OW    6.00      01/14/22      CNY     27.50
SHENZHEN METRO GROUP CO    5.40      03/25/23      CNY     30.87
SHENZHEN METRO GROUP CO    5.40      03/25/23      CNY     31.50
SHENZHEN METRO GROUP CO    6.75      01/24/24      CNY     39.24
SHENZHEN METRO GROUP CO    6.75      01/24/24      CNY     48.76
SHIJIAZHUANG HUTUO NEW     5.28      12/24/25      CNY     54.93
SHIJIAZHUANG HUTUO NEW     5.28      12/24/25      CNY     55.00
SHIJIAZHUANG STATE-OWNE    5.75      04/09/22      CNY     20.37
SHIJIAZHUANG STATE-OWNE    5.75      04/09/22      CNY     27.20
SHISHI CITY CONSTRUCTIO    6.10      05/04/22      CNY     40.20
SHISHI CITY CONSTRUCTIO    6.10      05/04/22      CNY     40.43
SHIYAN ECO DEVELOPMENT     3.98      08/05/23      CNY     59.12
SHIYAN ECO DEVELOPMENT     3.98      08/05/23      CNY     59.19
SHIYAN STATE-OWNED CAPI    6.58      08/20/21      CNY     20.21
SHIYAN STATE-OWNED CAPI    6.58      08/20/21      CNY     20.29
SHIYAN STATE-OWNED CAPI    4.88      01/11/26      CNY     69.72
SHIYAN STATE-OWNED CAPI    4.88      01/11/26      CNY     70.40
SHIZHU TUJIA HONGSHENG     7.00      11/13/24      CNY     64.00
SHUCHENG COUNTY URBAN C    5.50      04/29/23      CNY     60.70
SHUCHENG COUNTY URBAN C    5.50      04/29/23      CNY     60.71
SHUYANG JINGYUAN ASSET     5.49      09/11/22      CNY     39.00
SHUYANG JINGYUAN ASSET     5.49      09/11/22      CNY     40.11
SICHUAN COAL GASIFICATI    7.00      04/18/23      CNY     39.74
SICHUAN COAL GASIFICATI    7.00      12/14/23      CNY     59.49
SICHUAN COAL INDUSTRY G    7.70      01/09/18      CNY     45.00
SICHUAN LANGZHONG FAMOU    5.60      04/19/23      CNY     39.39
SICHUAN LANGZHONG FAMOU    5.60      04/19/23      CNY     39.46
SICHUAN LONGYANG TIANFU    5.45      05/27/23      CNY     59.58
SICHUAN LONGYANG TIANFU    5.45      05/27/23      CNY     59.62
SICHUAN NAXING INDUSTRI    7.17      09/11/21      CNY     20.00
SICHUAN NAXING INDUSTRI    7.17      09/11/21      CNY     20.03
SICHUAN NAXING INDUSTRI    4.68      03/31/23      CNY     38.56
SICHUAN NAXING INDUSTRI    4.68      03/31/23      CNY     39.15
SICHUAN NAXING INDUSTRI    6.80      08/18/22      CNY     50.79
SICHUAN NAXING INDUSTRI    6.80      08/18/22      CNY     50.80
SICHUAN TIANYIN INDUSTR    6.79      03/25/22      CNY     20.03
SICHUAN TIANYIN INDUSTR    6.79      03/25/22      CNY     28.00
SIHONG COUNTY HONG YUAN    6.15      03/16/22      CNY     20.11
SIHONG COUNTY HONG YUAN    6.15      03/16/22      CNY     20.35
SIHUI STATE OWNED ASSET    4.59      01/14/23      CNY     39.17
SIHUI STATE OWNED ASSET    4.59      01/14/23      CNY     40.00
SIYANG COUNTY MINKANG R    4.94      01/21/23      CNY     40.23
SIYANG COUNTY MINKANG R    4.94      01/21/23      CNY     40.56
SLENDER WEST LAKE TOURI    6.80      06/25/21      CNY     20.00
SLENDER WEST LAKE TOURI    6.80      06/25/21      CNY     20.06
SONGYUAN URBAN DEVELOPM    5.79      12/04/21      CNY     19.87
SONGYUAN URBAN DEVELOPM    5.79      12/04/21      CNY     20.78
SUINING COUNTY RUNQI IN    7.10      06/25/21      CNY     20.04
SUINING COUNTY RUNQI IN    7.10      06/25/21      CNY     20.25
SUINING COUNTY RUNQI IN    5.42      11/20/22      CNY     39.73
SUINING COUNTY RUNQI IN    5.42      11/20/22      CNY     40.00
SUINING FUYUAN INDUSTRY    6.39      03/17/22      CNY     19.75
SUINING FUYUAN INDUSTRY    6.39      03/17/22      CNY     24.18
SUINING FUYUAN INDUSTRY    5.34      12/02/23      CNY     55.29
SUINING FUYUAN INDUSTRY    5.34      12/02/23      CNY     58.65
SUINING KAIDA INVESTMEN    4.89      04/08/23      CNY     38.25
SUINING KAIDA INVESTMEN    4.89      04/08/23      CNY     38.26
SUINING ROUGANG INVESTM    5.65      01/24/24      CNY     58.33
SUINING TIANTAI INDUSTR    5.98      03/28/24      CNY     58.05
SUINING TIANTAI INDUSTR    5.98      03/28/24      CNY     59.34
SUIZHOU DEVELOPMENT INV    8.40      04/30/21      CNY     20.01
SUIZHOU DEVELOPMENT INV    8.40      04/30/21      CNY     20.71
SUIZHOU DEVELOPMENT INV    5.70      04/07/24      CNY     59.03
SUIZHOU DEVELOPMENT INV    5.70      04/07/24      CNY     59.43
SUIZHOU HIGH-TECH INDUS    4.47      03/25/23      CNY     38.76
SUIZHOU HIGH-TECH INDUS    4.47      03/25/23      CNY     38.91
SUIZHOU URBAN CONSTRUCT    7.18      09/02/21      CNY     20.05
SUIZHOU URBAN CONSTRUCT    7.18      09/02/21      CNY     21.20
SUIZHOU YULONG WATER SU    6.10      03/28/23      CNY     42.46
SUQIAN ECONOMIC DEVELOP    5.40      04/20/24      CNY     61.94
SUQIAN ECONOMIC DEVELOP    5.40      04/20/24      CNY     62.45
SUQIAN YUFENG ASSET MAN    5.50      04/21/24      CNY     61.23
SUQIAN YUFENG ASSET MAN    5.50      04/21/24      CNY     64.26
SUZHOU CITY CONSTRUCTIO    3.89      03/24/23      CNY     40.05
SUZHOU CITY CONSTRUCTIO    3.89      03/24/23      CNY     40.16
SUZHOU CITY HENGCHENG C    4.40      03/01/23      CNY     40.05
SUZHOU CITY HENGCHENG C    4.40      03/01/23      CNY     40.16
SUZHOU NEW & HIGH-TECH     4.18      03/23/23      CNY     38.82
SUZHOU NEW & HIGH-TECH     4.18      03/23/23      CNY     39.84
SUZHOU SND GROUP CO LTD    6.20      07/22/21      CNY     20.11
SUZHOU SND GROUP CO LTD    6.20      07/22/21      CNY     20.23
SUZHOU WUJIANG COMMUNIC    3.75      05/26/23      CNY     75.00
SUZHOU WUJIANG DISTRICT    5.25      07/08/22      CNY     40.40
SUZHOU WUJIANG DISTRICT    5.25      07/08/22      CNY     40.52
TAIAN TAISHAN HOLDINGS     5.50      04/26/23      CNY     39.32
TAIAN TAISHAN HOLDINGS     5.50      04/26/23      CNY     39.56
TAICANG SCIENCE EDUCATI    5.54      08/28/22      CNY     40.53
TAICANG SCIENCE EDUCATI    5.54      08/28/22      CNY     44.65
TAIXING CITY HONGQIAO Y    5.03      10/29/22      CNY     39.72
TAIXING CITY HONGQIAO Y    5.03      10/29/22      CNY     43.87
TAIZHOU CITY CONSTRUCTI    6.92      10/16/23      CNY     46.89
TAIZHOU CITY CONSTRUCTI    6.92      10/16/23      CNY     47.15
TAIZHOU HAILING CITY DE    4.60      12/14/22      CNY     39.40
TAIZHOU HAILING CITY DE    4.60      12/14/22      CNY     40.08
TAIZHOU JIAOJIANG STATE    6.18      07/06/22      CNY     40.48
TAIZHOU JIAOJIANG STATE    6.18      07/06/22      CNY     44.00
TAIZHOU JINDONG URBAN C    5.10      06/02/23      CNY     59.40
TAIZHOU JINDONG URBAN C    5.10      06/02/23      CNY     59.51
TAIZHOU XINTAI GROUP CO    4.07      03/23/23      CNY     39.64
TAIZHOU XINTAI GROUP CO    4.07      03/23/23      CNY     39.79
TIANCHANG CITY CONSTRUC    4.99      12/05/23      CNY     55.84
TIANCHANG CITY CONSTRUC    4.99      12/05/23      CNY     59.71
TIANJIN BEICHEN TECHNOL    6.87      08/20/21      CNY     19.84
TIANJIN BEICHEN TECHNOL    6.87      08/20/21      CNY     27.00
TIANJIN BINHAI NEW AREA    6.10      11/23/21      CNY     19.88
TIANJIN BINHAI NEW AREA    6.10      11/23/21      CNY     23.87
TIANJIN BOHAI STATE-OWN    3.82      04/18/23      CNY     39.06
TIANJIN BOHAI STATE-OWN    4.10      04/18/26      CNY     67.13
TIANJIN BOHAI STATE-OWN    4.10      04/18/26      CNY     70.00
TIANJIN DONGFANG CAIXIN    5.19      01/29/22      CNY     19.20
TIANJIN DONGFANG CAIXIN    5.19      01/29/22      CNY     19.86
TIANJIN DONGLI CITY INF    4.28      12/02/22      CNY     40.11
TIANJIN ECONOMIC TECHNO    6.50      12/03/22      CNY     30.48
TIANJIN ECONOMIC TECHNO    6.50      12/03/22      CNY     31.30
TIANJIN GUANGCHENG INVE    7.45      07/24/21      CNY     29.00
TIANJIN GUANGCHENG INVE    6.97      02/22/23      CNY     29.15
TIANJIN GUANGCHENG INVE    5.40      04/20/23      CNY     39.64
TIANJIN GUANGCHENG INVE    5.40      04/20/23      CNY     40.00
TIANJIN HARBOR CONSTRUC    6.29      10/21/21      CNY     39.78
TIANJIN HUANCHENG URBAN    5.75      04/27/22      CNY     39.60
TIANJIN HUANCHENG URBAN    5.75      04/27/22      CNY     40.50
TIANJIN INFRASTRUCTURE     5.70      02/26/23      CNY     24.43
TIANJIN INFRASTRUCTURE     5.70      02/26/23      CNY     30.53
TIANJIN JINNAN CITY CON    6.50      06/03/21      CNY     20.00
TIANJIN JINNAN CITY CON    6.50      06/03/21      CNY     20.00
TIANJIN METRO GROUP CO     4.27      10/16/25      CNY     68.66
TIANJIN METRO GROUP CO     4.27      10/16/25      CNY     74.00
TIANJIN NINGHE DISTRICT    7.00      05/30/21      CNY     19.99
TIANJIN NINGHE DISTRICT    7.00      05/30/21      CNY     27.50
TIANJIN NINGHE INVESTME    5.50      04/22/23      CNY     38.98
TIANJIN NINGHE INVESTME    5.50      04/22/23      CNY     40.17
TIANJIN RAILWAY CONSTRU    5.58      04/13/25      CNY     60.28
TIANJIN REAL ESTATE GRO    4.50      09/29/20      USD     73.75
TIANJIN WATER INVESTMEN    6.60      07/28/21      CNY     19.73
TIANJIN WATER INVESTMEN    6.60      07/28/21      CNY     21.80
TIANJIN WUQING ECONOMIC    6.65      09/12/21      CNY     19.53
TIANJIN WUQING ECONOMIC    6.65      09/12/21      CNY     19.93
TIANJIN WUQING STATE-OW    4.15      11/17/22      CNY     33.12
TIANJIN WUQING STATE-OW    4.15      11/17/22      CNY     40.12
TIANMEN CITY CONSTRUCTI    8.20      08/28/21      CNY     20.23
TIANMEN CITY CONSTRUCTI    8.20      08/28/21      CNY     25.16
TIANMEN CITY CONSTRUCTI    3.98      11/15/23      CNY     58.09
TIANMEN CITY CONSTRUCTI    3.98      11/15/23      CNY     58.85
TONGLING CONSTRUCTION I    4.12      03/14/23      CNY     40.00
TONGLING CONSTRUCTION I    4.12      03/14/23      CNY     40.07
TSINGHUA HOLDINGS CORP     4.95      08/08/22      CNY     36.40
TSINGHUA HOLDINGS CORP     3.15      10/25/21      CNY     48.64
TSINGHUA HOLDINGS CORP     5.30      03/26/23      CNY     50.00
TSINGHUA HOLDINGS CORP     4.10      08/24/21      CNY     66.77
TSINGHUA UNIGROUP CO LT    5.20      12/10/23      CNY     11.65
TSINGHUA UNIGROUP CO LT    5.11      01/25/24      CNY     13.00
TSINGHUA UNIGROUP CO LT    4.94      03/25/22      CNY     16.55
TSINGHUA UNIGROUP CO LT    5.85      03/27/22      CNY     16.88
TSINGHUA UNIGROUP CO LT    6.15      12/26/21      CNY     28.03
TSINGHUA UNIGROUP CO LT    5.60      11/15/20      CNY     28.13
TSINGHUA UNIGROUP CO LT    6.20      03/16/21      CNY     28.13
TSINGHUA UNIGROUP CO LT    6.00      08/14/22      CNY     28.13
TULUFAN DISTRICT STATE-    6.20      03/19/22      CNY     20.21
TULUFAN DISTRICT STATE-    6.20      03/19/22      CNY     20.39
TUNGHSU GROUP CO LTD       6.55      03/13/22      CNY     45.00
TUNGHSU OPTOELECTRONIC     5.09      11/17/21      CNY     22.81
ULANQAB CITY INVESTMENT    8.39      04/25/22      CNY     25.51
ULANQAB JINING DISTRICT    6.16      03/24/23      CNY     40.35
ULANQAB JINING DISTRICT    6.16      03/24/23      CNY     40.39
URUMQI ECO&TECH DEVELOP    6.40      04/13/22      CNY     20.00
URUMQI ECO&TECH DEVELOP    6.40      04/13/22      CNY     20.28
WAFANGDIAN COASTAL PROJ    3.98      02/01/23      CNY     39.18
WANGCHENG ECONOMIC DEVE    6.57      01/22/22      CNY     20.43
WANGCHENG ECONOMIC DEVE    6.57      01/22/22      CNY     28.81
WANGCHENG ECONOMIC DEVE    3.75      07/13/23      CNY     59.96
WANGCHENG ECONOMIC DEVE    3.75      07/13/23      CNY     61.05
WEIHAI LANCHUANG CONSTR    4.80      12/17/22      CNY     39.09
WEIHAI LANCHUANG CONSTR    4.80      12/17/22      CNY     39.39
WEIHAI URBAN CONSTRUCTI    3.33      03/02/23      CNY     38.40
WEIHAI URBAN CONSTRUCTI    3.33      03/02/23      CNY     39.48
WEIHAI WENDENG DISTRICT    3.64      10/26/23      CNY     58.57
WEIHAI WENDENG DISTRICT    3.64      10/26/23      CNY     58.63
WEIHAI WENDENG URBAN PR    4.80      05/26/23      CNY     58.75
WEIHAI WENDENG URBAN PR    4.80      05/26/23      CNY     59.15
WEINAN CITY INVESTMENT     6.09      03/11/22      CNY     20.00
WEINAN CITY INVESTMENT     6.09      03/11/22      CNY     20.17
WENDENG GOLDEN BEACH IN    3.97      03/21/23      CNY     39.10
WENDENG GOLDEN BEACH IN    3.97      03/21/23      CNY     39.19
WENSHAN URBAN CONSTRUCT    4.50      09/13/23      CNY     56.84
WENSHAN URBAN CONSTRUCT    4.50      09/13/23      CNY     58.24
WENZHOU CITY CONSTRUCTI    4.05      01/25/23      CNY     40.15
WENZHOU CITY CONSTRUCTI    4.05      01/25/23      CNY     40.16
WENZHOU CITY CONSTRUCTI    5.00      04/26/23      CNY     40.80
WENZHOU CITY CONSTRUCTI    5.00      04/26/23      CNY     60.87
WENZHOU GANGCHENG DEVEL    5.19      03/29/23      CNY     40.26
WENZHOU GANGCHENG DEVEL    5.19      03/29/23      CNY     40.32
WENZHOU HIGH-TECH INDUS    7.30      05/30/21      CNY     20.00
WENZHOU HIGH-TECH INDUS    7.30      05/30/21      CNY     20.01
WENZHOU LUCHENG CITY DE    5.58      11/03/21      CNY     20.06
WENZHOU LUCHENG CITY DE    5.58      11/03/21      CNY     20.17
WENZHOU OUHAI NEW CITY     3.98      10/26/23      CNY     59.72
WENZHOU OUHAI NEW CITY     3.98      10/26/23      CNY     59.75
WINTIME ENERGY CO LTD      7.00      07/05/18      CNY     43.63
WINTIME ENERGY CO LTD      7.30      08/06/18      CNY     43.63
WINTIME ENERGY CO LTD      7.00      08/25/18      CNY     43.63
WINTIME ENERGY CO LTD      6.78      10/23/18      CNY     43.63
WINTIME ENERGY CO LTD      7.00      12/15/18      CNY     43.63
WINTIME ENERGY CO LTD      7.00      03/19/19      CNY     43.63
WINTIME ENERGY CO LTD      7.00      04/26/19      CNY     43.63
WINTIME ENERGY CO LTD      7.70      11/15/20      CNY     43.63
WINTIME ENERGY CO LTD      7.50      11/16/20      CNY     43.63
WINTIME ENERGY CO LTD      7.50      12/06/20      CNY     43.63
WINTIME ENERGY CO LTD      7.90      12/22/20      CNY     43.63
WINTIME ENERGY CO LTD      7.90      03/29/21      CNY     43.63
WINTIME ENERGY CO LTD      7.50      04/04/21      CNY     43.63
WINTIME ENERGY CO LTD      4.75      07/07/22      CNY     43.63
WUHAN CITY HUANPI DISTR    6.43      09/17/21      CNY     20.28
WUHAN CITY HUANPI DISTR    6.43      09/17/21      CNY     25.00
WUHAN CITY HUANPI DISTR    5.48      04/19/24      CNY     61.55
WUHAN CITY HUANPI DISTR    5.48      04/19/24      CNY     62.00
WUHAN JIANGXIA URBAN CO    4.80      06/03/23      CNY     60.02
WUHAN JIANGXIA URBAN CO    4.80      06/03/23      CNY     60.04
WUHAN METRO GROUP CO LT    5.25      04/14/22      CNY     20.19
WUHAN METRO GROUP CO LT    5.25      04/14/22      CNY     20.33
WUHAN QIAOKOU STATE OWN    3.48      08/29/23      CNY     58.93
WUHAN QIAOKOU STATE OWN    3.48      08/29/23      CNY     59.94
WUHU COMMUNICATIONS INV    3.58      09/23/23      CNY     59.08
WUHU COMMUNICATIONS INV    4.50      04/28/23      CNY     59.84
WUHU COMMUNICATIONS INV    3.58      09/23/23      CNY     60.02
WUHU COMMUNICATIONS INV    4.50      04/28/23      CNY     60.58
WUHU COUNTY CONSTRUCTIO    6.60      12/08/21      CNY     20.11
WUHU COUNTY CONSTRUCTIO    6.60      12/08/21      CNY     26.35
WUHU JINGHU CONSTRUCTIO    4.37      07/20/23      CNY     59.67
WUHU JINGHU CONSTRUCTIO    4.37      07/20/23      CNY     59.96
WUHU JIUJIANG CONSTRUCT    3.96      03/21/23      CNY     39.51
WUHU XINMA INVESTMENT C    4.87      11/04/22      CNY     40.00
WUHU YIJU INVESTMENT GR    6.45      08/11/21      CNY     20.18
WUHU YIJU INVESTMENT GR    6.45      08/11/21      CNY     20.30
WUXI HUIKAI ECONOMIC DE    4.16      04/08/23      CNY     39.83
WUXI HUIKAI ECONOMIC DE    4.16      04/08/23      CNY     40.09
WUXI HUNING METRO HUISH    4.38      06/08/21      CNY     39.99
WUXI HUNING METRO HUISH    4.38      06/08/21      CNY     40.45
WUXI TAIHU NEW CITY DEV    3.47      08/29/23      CNY     59.50
WUXI TAIHU NEW CITY DEV    3.47      08/29/23      CNY     59.90
WUXI TAIHU NEW CITY DEV    4.49      05/03/23      CNY     60.47
WUXI TAIHU NEW CITY DEV    4.49      05/03/23      CNY     60.50
WUXI XIDONG NEW TOWN CO    3.92      11/09/23      CNY     59.31
WUXI XIDONG NEW TOWN CO    3.92      11/09/23      CNY     59.35
WUYANG CONSTRUCTION GRO    7.80      09/11/20      CNY     32.48
XIAN FENGDONG DEVELOPME    4.67      01/08/23      CNY     39.33
XIAN FENGDONG DEVELOPME    4.67      01/08/23      CNY     39.40
XI'AN INTERNATIONAL HOR    6.20      10/21/21      CNY     20.00
XI'AN INTERNATIONAL HOR    6.20      10/21/21      CNY     21.46
XI'AN INTERNATIONAL INL    7.90      09/23/21      CNY     22.28
XIANGSHUI GUANJIANG HOL    4.98      12/24/22      CNY     36.60
XIANGSHUI GUANJIANG HOL    4.98      12/24/22      CNY     38.63
XIANGTAN CITY CONSTRUCT    7.60      04/02/22      CNY     62.20
XIANGTAN CITY CONSTRUCT    7.80      03/12/22      CNY     64.87
XIANGTAN CITY CONSTRUCT    7.80      01/30/22      CNY     67.80
XIANGTAN CITY INFRASTRC    3.95      08/04/23      CNY     55.47
XIANGTAN CITY INFRASTRC    3.60      08/04/23      CNY     55.67
XIANGTAN CITY INFRASTRC    3.95      08/04/23      CNY     57.97
XIANGTAN CITY INFRASTRC    3.60      08/04/23      CNY     59.47
XIANGTAN JIUHUA ECONOMI    6.59      01/21/22      CNY     19.11
XIANGTAN JIUHUA ECONOMI    6.59      01/21/22      CNY     19.15
XIANGTAN JIUHUA ECONOMI    5.00      07/25/26      CNY     70.17
XIANGTAN WANLOU XINCHEN    6.90      01/14/22      CNY     15.49
XIANGTAN WANLOU XINCHEN    6.90      01/14/22      CNY     19.60
XIANGXIANG ECONOMIC DIS    5.28      09/09/23      CNY     57.30
XIANGXIANG ECONOMIC DIS    5.28      09/09/23      CNY     57.49
XIANGXIANG URBAN CONSTR    5.84      05/18/23      CNY     59.82
XIANGXIANG URBAN CONSTR    5.84      05/18/23      CNY     60.14
XIANGYANG CITY XIANGZHO    5.18      04/28/23      CNY     60.23
XIANGYANG CITY XIANGZHO    5.18      04/28/23      CNY     60.35
XIANGYANG HIGH TECH STA    7.00      05/29/21      CNY     20.01
XIANGYANG HIGH TECH STA    7.00      05/29/21      CNY     23.38
XIANGYANG STATE-OWNED C    4.62      01/25/23      CNY     39.43
XIANGYANG STATE-OWNED C    4.62      01/25/23      CNY     39.68
XIANNING HIGH-TECH INVE    6.29      02/10/22      CNY     20.28
XIANNING HIGH-TECH INVE    6.29      02/10/22      CNY     20.56
XIANTAO CITY CONSTRUCTI    4.59      04/18/23      CNY     39.57
XIANTAO CITY CONSTRUCTI    4.59      04/18/23      CNY     40.36
XIAOCHANG SHUNHE DEVELO    4.15      10/17/23      CNY     57.42
XIAOGAN GAOCHUANG INVES    6.87      09/22/21      CNY     20.04
XIAOGAN GAOCHUANG INVES    7.43      06/23/21      CNY     20.10
XIAOGAN GAOCHUANG INVES    6.87      09/22/21      CNY     26.69
XIAOGAN GAOCHUANG INVES    7.43      06/23/21      CNY     32.72
XIAOGAN URBAN CONSTRUCT    6.89      05/29/21      CNY     19.90
XIAOGAN URBAN CONSTRUCT    6.89      05/29/21      CNY     20.05
XIAOGAN URBAN CONSTRUCT    3.94      07/05/21      CNY     62.98
XIAOXIAN COUNTY DEVELOP    4.85      06/22/23      CNY     60.31
XIAOXIAN COUNTY DEVELOP    4.85      06/22/23      CNY     60.31
XINDONGGANG HOLDING GRO    5.53      04/27/23      CNY     59.29
XINDONGGANG HOLDING GRO    5.53      04/27/23      CNY     59.48
XINGAN COUNTY URBAN CON    5.48      08/03/23      CNY     58.39
XINGAN COUNTY URBAN CON    5.48      08/03/23      CNY     58.74
XINGAN LEAGUE URBAN DEV    6.18      12/21/22      CNY     23.15
XINGAN LEAGUE URBAN DEV    6.18      12/21/22      CNY     27.32
XINGHUA CITY ECONOMIC D    5.28      06/13/22      CNY     49.50
XINGHUA CITY ECONOMIC D    5.28      06/13/22      CNY     49.68
XINGYI XINHENG URBAN CO    5.40      12/16/22      CNY     38.40
XINGYI XINHENG URBAN CO    5.40      12/16/22      CNY     39.00
XINMI CAIYUAN CITY CONS    4.35      02/28/23      CNY     39.77
XINMI CAIYUAN CITY CONS    4.35      02/28/23      CNY     39.77
XINMIN CITY LUXIN MUNIC    6.41      07/29/21      CNY     13.69
XINMIN CITY LUXIN MUNIC    6.41      07/29/21      CNY     13.79
XINTAI CITY COORDINATIN    6.35      03/23/22      CNY     20.19
XINTAI CITY COORDINATIN    6.35      03/23/22      CNY     20.75
XINYI CITY INVESTMENT &    4.30      01/19/23      CNY     38.65
XINYI CITY INVESTMENT &    4.30      01/19/23      CNY     40.00
XINYI URBAN TRANSPORTAT    6.14      02/06/22      CNY     20.29
XINYI URBAN TRANSPORTAT    6.14      02/06/22      CNY     21.53
XINYI URBAN TRANSPORTAT    5.35      04/24/24      CNY     60.67
XINYU CHENGDONG CONSTRU    8.48      05/27/21      CNY     20.02
XINYU CITY SHANTYTOWN Z    6.50      11/13/22      CNY     70.04
XINYU CITY YUSHUI DISTR    7.70      06/24/22      CNY     40.53
XINYU CITY YUSHUI DISTR    7.70      06/24/22      CNY     41.39
XIWANG GROUP CO LTD        7.80      12/03/22      CNY     49.94
XUANCHENG CITY ECONOMY     7.95      09/22/21      CNY     20.22
XUANCHENG CITY ECONOMY     7.95      09/22/21      CNY     26.00
XUANCHENG STATE-OWNED A    4.12      04/07/23      CNY     39.71
XUANCHENG STATE-OWNED A    4.12      04/07/23      CNY     40.28
XUZHOU BOCHANT DEVELOPM    5.69      07/28/21      CNY     33.27
XUZHOU CITY JIAWANG CON    4.00      03/23/23      CNY     32.78
XUZHOU CITY JIAWANG CON    4.00      03/23/23      CNY     39.89
XUZHOU CITY TONGSHAN DI    5.23      09/18/22      CNY     40.00
XUZHOU CITY TONGSHAN DI    5.23      09/18/22      CNY     40.39
XUZHOU HI-TECH INDUSTRI    3.78      11/11/23      CNY     57.77
XUZHOU HI-TECH INDUSTRI    3.78      11/11/23      CNY     59.43
XUZHOU TRANSPORTATION H    7.09      05/15/21      CNY     20.03
XUZHOU TRANSPORTATION H    7.09      05/15/21      CNY     20.20
XUZHOU XINSHENG INVESTM    5.13      08/12/22      CNY     40.64
XUZHOU XINSHENG INVESTM    5.13      08/12/22      CNY     44.46
YAN'AN NEW CITY CONSTRU    5.60      04/21/24      CNY     49.26
YAN'AN NEW CITY CONSTRU    5.60      04/21/24      CNY     59.73
YANCHENG HIGH-TECH ZONE    3.90      12/14/22      CNY     39.67
YANCHENG HIGH-TECH ZONE    3.90      12/14/22      CNY     39.90
YANCHENG ORIENTAL INVES    6.48      09/15/21      CNY     20.03
YANCHENG SOUTH DISTRICT    6.70      07/30/21      CNY     16.90
YANCHENG SOUTH DISTRICT    6.70      07/30/21      CNY     20.12
YANCHENG YANDU DISTRICT    3.67      03/17/23      CNY     39.18
YANCHENG YANDU DISTRICT    3.67      03/17/23      CNY     39.44
YANGJIANG HENGCAI CITY     6.24      04/14/22      CNY     20.14
YANGJIANG HENGCAI CITY     6.24      04/14/22      CNY     21.20
YANGZHONG TRANSPORTATIO    4.95      04/07/23      CNY     39.33
YANGZHONG TRANSPORTATIO    4.95      04/07/23      CNY     39.86
YANGZHONG TRANSPORTATIO    4.98      04/07/23      CNY     40.32
YANGZHONG TRANSPORTATIO    4.98      04/07/23      CNY     40.36
YANGZHOU GUANGLING NEW     3.62      09/07/23      CNY     57.93
YANGZHOU GUANGLING NEW     3.62      09/07/23      CNY     58.17
YANGZHOU HANJIANG CONST    5.88      06/15/22      CNY     40.56
YANGZHOU HANJIANG CONST    5.88      06/15/22      CNY     46.63
YI CHENG CONSTRUCTION I    5.44      04/27/23      CNY     39.55
YI ZHENG CITY DEVELOPME    4.63      01/08/23      CNY     40.00
YI ZHENG CITY DEVELOPME    4.63      01/08/23      CNY     40.00
YICHANG HIGH-TECH INVES    4.80      12/15/22      CNY     40.00
YICHANG HIGH-TECH INVES    4.80      12/15/22      CNY     40.11
YICHANG HIGH-TECH INVES    3.74      07/21/23      CNY     58.92
YICHANG HIGH-TECH INVES    3.74      07/21/23      CNY     59.41
YICHANG WUJIA NEW CITY     6.50      04/20/24      CNY     60.10
YICHANG WUJIA NEW CITY     6.50      04/20/24      CNY     61.36
YICHUN URBAN CONSTRUCTI    7.09      05/15/21      CNY     20.06
YICHUN URBAN CONSTRUCTI    7.09      05/15/21      CNY     23.47
YICHUN VENTURE CAPITAL     6.70      03/23/22      CNY     20.05
YICHUN VENTURE CAPITAL     6.70      03/23/22      CNY     20.61
YIHUA ENTERPRISE GROUP     7.00      04/29/22      CNY     54.00
YIHUA LIFESTYLE TECHNOL    6.88      07/23/20      CNY     35.00
YIHUA LIFESTYLE TECHNOL    6.88      07/16/20      CNY     35.90
YINCHUAN URBAN CONSTRUC    6.88      05/12/21      CNY     20.00
YINCHUAN URBAN CONSTRUC    6.88      05/12/21      CNY     20.02
YINGCHENG CITY PUYANG D    6.50      04/14/24      CNY     61.36
YINGCHENG CITY PUYANG D    6.50      04/14/24      CNY     61.37
YINGKOU COASTAL DEVELOP    6.45      01/26/22      CNY     20.29
YINGKOU ECO & TECH DEVE    5.20      08/05/23      CNY     58.97
YINGKOU ECO & TECH DEVE    5.20      08/05/23      CNY     59.14
YINGKOU ECO & TECH DEVE    6.98      04/19/24      CNY     60.72
YINGKOU ECO & TECH DEVE    6.98      04/19/24      CNY     79.00
YINGKOU LAOBIAN CITY CO    4.98      03/11/23      CNY     38.49
YINGKOU LAOBIAN CITY CO    5.63      12/16/22      CNY     39.61
YINGKOU LAOBIAN CITY CO    4.98      03/11/23      CNY     40.00
YINGTAN LONGGANG ASSET     6.75      07/31/22      CNY     40.35
YINGTAN LONGGANG ASSET     6.75      07/31/22      CNY     41.18
YINGTAN STATE-OWNED ASS    7.50      12/12/22      CNY     30.71
YINGTAN STATE-OWNED ASS    7.50      12/12/22      CNY     30.71
YINGTAN STATE-OWNED ASS    3.63      08/12/21      CNY     40.02
YINING CITY STATE OWNED    5.37      09/24/22      CNY     39.20
YINING CITY STATE OWNED    5.37      09/24/22      CNY     39.53
YIWU CITY CONSTRUCTION     4.31      12/07/22      CNY     39.94
YIWU CITY CONSTRUCTION     4.31      12/07/22      CNY     40.40
YIWU URBAN & RURAL NEW     4.25      11/24/21      CNY     24.99
YIXING CITY CONSTRUCTIO    6.16      03/30/22      CNY     20.00
YIXING CITY CONSTRUCTIO    6.16      03/30/22      CNY     20.43
YIXING TUOYE INDUSTRIAL    7.60      05/28/21      CNY     20.04
YIXING TUOYE INDUSTRIAL    7.60      05/28/21      CNY     23.50
YIYANG ADVANCED INDUSTR    7.00      03/30/22      CNY     19.94
YIYANG ADVANCED INDUSTR    7.00      03/30/22      CNY     28.00
YIYANG PROVINCE AREA IN    4.95      10/13/23      CNY     56.31
YIYANG PROVINCE AREA IN    5.16      11/23/23      CNY     56.39
YIYANG PROVINCE AREA IN    4.95      10/13/23      CNY     56.44
YIYANG PROVINCE AREA IN    5.16      11/23/23      CNY     57.61
YIZHANG XINGYI CONSTRUC    5.49      09/02/24      CNY     68.24
YIZHANG XINGYI CONSTRUC    5.49      09/02/24      CNY     68.43
YONGCHENG COAL & ELECTR    7.50      02/02/21      CNY     39.88
YONGJIA INVESTMENT GROU    6.50      11/12/21      CNY     20.00
YONGJIA INVESTMENT GROU    6.50      11/12/21      CNY     20.11
YONGXING YINDU INVESTME    5.60      03/24/23      CNY     39.29
YONGXING YINDU INVESTME    5.60      03/24/23      CNY     40.14
YONGZHOU ECONOMIC CONST    3.55      01/14/23      CNY     39.30
YONGZHOU ECONOMIC CONST    3.55      01/14/23      CNY     39.64
YUANAN COUNTY QIFENG CI    5.50      05/27/23      CNY     60.70
YUANAN COUNTY QIFENG CI    5.50      05/27/23      CNY     60.70
YUEYANG CITY DONGTING N    6.15      03/20/22      CNY     19.90
YUEYANG CITY DONGTING N    6.15      03/20/22      CNY     20.10
YUEYANG HUIHUA URBAN IN    5.78      04/18/24      CNY     60.75
YUEYANG HUIHUA URBAN IN    5.78      04/18/24      CNY     61.20
YUEYANG HUILIN INVESTME    5.50      11/03/21      CNY     16.24
YUEYANG HUILIN INVESTME    5.50      11/03/21      CNY     19.65
YUEYANG URBAN CONSTRUCT    4.80      01/27/26      CNY     73.31
YUEYANG URBAN CONSTRUCT    4.80      01/27/26      CNY     73.42
YUEYANG YUNXI CITY CONS    5.18      11/21/23      CNY     56.49
YUEYANG YUNXI CITY CONS    6.00      07/08/23      CNY     59.30
YUEYANG YUNXI CITY CONS    6.00      07/08/23      CNY     59.44
YUHUAN CITY COMMUNICATI    5.65      11/03/21      CNY     20.22
YUHUAN CITY COMMUNICATI    5.65      11/03/21      CNY     20.22
YUHUAN CITY COMMUNICATI    6.18      03/20/22      CNY     20.36
YUHUAN CITY COMMUNICATI    6.18      03/20/22      CNY     24.47
YUHUAN CITY CONSTRUCTIO    3.72      10/21/23      CNY     58.65
YUHUAN CITY CONSTRUCTIO    3.72      10/21/23      CNY     59.16
YUHUAN CITY CONSTRUCTIO    5.10      05/03/23      CNY     59.90
YUHUAN CITY CONSTRUCTIO    5.10      05/03/23      CNY     60.56
YUNCHENG SHUIHU CITY CO    4.54      11/21/23      CNY     57.66
YUNCHENG SHUIHU CITY CO    4.54      11/21/23      CNY     58.05
YUNNAN HEALTH & CULTURA    6.77      05/23/21      CNY     19.76
YUNNAN HEALTH & CULTURA    6.77      05/23/21      CNY     20.02
YUNNAN PROVINCIAL INVES    4.36      08/21/23      CNY     70.00
YUNNAN PROVINCIAL INVES    4.63      11/05/23      CNY     70.00
YUNNAN PROVINCIAL INVES    4.66      08/21/24      CNY     77.10
YUYAO CITY CONSTRUCTION    7.09      05/19/21      CNY     20.04
YUYAO CITY CONSTRUCTION    7.09      05/19/21      CNY     20.40
YUZHOU GENERAL INVESTME    4.68      01/19/23      CNY     39.92
YUZHOU GENERAL INVESTME    4.68      01/19/23      CNY     40.00
ZAOYANG CITY CONSTRUCTI    5.50      03/22/23      CNY     39.84
ZAOYANG CITY CONSTRUCTI    5.50      03/22/23      CNY     40.10
ZHANGJIAGANG JINCHENG I    6.88      04/28/21      CNY     16.61
ZHANGJIAGANG JINCHENG I    6.88      04/28/21      CNY     20.00
ZHANGQIU STATE OWNED AS    3.69      08/09/23      CNY     58.50
ZHANGQIU STATE OWNED AS    3.69      08/09/23      CNY     59.63
ZHANGSHU STATE-OWNED AS    4.80      06/22/23      CNY     59.70
ZHANGSHU STATE-OWNED AS    4.80      06/22/23      CNY     62.67
ZHANGYE CITY INVESTMENT    6.92      09/22/21      CNY     20.14
ZHANGYE CITY INVESTMENT    6.92      09/22/21      CNY     20.90
ZHANGZHOU ECONOMIC DEVE    6.17      04/27/22      CNY     20.30
ZHANGZHOU JIULONGJIANG     6.48      06/20/21      CNY     16.81
ZHANGZHOU JIULONGJIANG     6.48      06/20/21      CNY     20.07
ZHAODONG DONGSHENG CONS    6.50      01/20/24      CNY     61.26
ZHAODONG DONGSHENG CONS    6.50      01/20/24      CNY     61.27
ZHAOQING GAOYAO DISTRIC    6.68      04/14/22      CNY     20.00
ZHAOQING GAOYAO DISTRIC    6.68      04/14/22      CNY     40.47
ZHAOQING HI-TECH ZONE C    3.97      08/26/23      CNY     57.90
ZHAOQING HI-TECH ZONE C    3.97      08/26/23      CNY     59.21
ZHEJIANG BINHAI NEW CIT    4.65      12/23/22      CNY     40.33
ZHEJIANG BINHAI NEW CIT    4.65      12/23/22      CNY     40.35
ZHEJIANG GUOXING INVEST    6.94      08/01/21      CNY     20.10
ZHEJIANG GUOXING INVEST    6.94      08/01/21      CNY     28.50
ZHEJIANG HUISHENG INVES    4.49      03/15/24      CNY     54.50
ZHEJIANG HUISHENG INVES    4.49      03/15/24      CNY     55.00
ZHEJIANG OUHAI CONSTRUC    6.45      04/23/22      CNY     20.20
ZHEJIANG OUHAI CONSTRUC    4.83      01/21/23      CNY     39.90
ZHEJIANG OUHAI CONSTRUC    4.83      01/21/23      CNY     40.39
ZHEJIANG OUHAI CONSTRUC    6.45      04/23/22      CNY     40.57
ZHEJIANG XINCHANG INVES    5.88      10/30/21      CNY     20.18
ZHEJIANG XINCHANG INVES    6.95      12/31/21      CNY     20.38
ZHEJIANG XINCHANG INVES    5.88      10/30/21      CNY     21.06
ZHEJIANG XINCHANG INVES    6.95      12/31/21      CNY     21.20
ZHENGZHOU AIRPORT ECONO    4.27      07/20/26      CNY     67.63
ZHENGZHOU AIRPORT ECONO    4.27      07/20/26      CNY     68.32
ZHENGZHOU JINGKAI INVES    5.48      07/31/22      CNY     40.00
ZHENGZHOU JINGKAI INVES    5.48      07/31/22      CNY     40.46
ZHENGZHOU MOUZHONG DEVE    7.48      12/11/21      CNY     20.25
ZHENGZHOU MOUZHONG DEVE    7.48      12/11/21      CNY     26.20
ZHENGZHOU MOUZHONG DEVE    4.59      04/18/23      CNY     39.76
ZHENGZHOU MOUZHONG DEVE    4.59      04/18/23      CNY     39.85
ZHENJIANG DANTU DISTRIC    5.89      11/03/21      CNY     19.80
ZHENJIANG DANTU DISTRIC    5.89      11/03/21      CNY     20.00
ZHENJIANG NEW AREA URBA    5.31      07/14/23      CNY     58.67
ZHENJIANG NEW AREA URBA    5.31      07/14/23      CNY     60.39
ZHIJIANG STATE-OWNED AS    4.38      03/28/23      CNY     39.38
ZHIJIANG STATE-OWNED AS    4.78      01/11/23      CNY     39.65
ZHIJIANG STATE-OWNED AS    4.38      03/28/23      CNY     44.70
ZHONGGUANCUN DEVELOPMEN    4.20      08/12/22      CNY     40.32
ZHONGGUANCUN DEVELOPMEN    4.20      08/12/22      CNY     40.54
ZHONGMINTOU LEASING HOL    7.55      09/21/21      CNY     49.49
ZHONGSHAN TORCH DEVELOP    5.79      03/23/24      CNY     61.01
ZHONGSHAN TORCH DEVELOP    5.79      03/23/24      CNY     61.36
ZHONGSHAN TRANSPORTATIO    5.25      11/26/21      CNY     20.00
ZHONGSHAN TRANSPORTATIO    5.25      11/26/21      CNY     20.24
ZHONGYUAN ASSET MANAGEM    4.20      11/29/22      USD     67.24
ZHONGYUAN ASSET MANAGEM    4.40      10/25/22      CNY     74.70
ZHOUSHAN DINGHAI CITY C    6.67      07/20/22      CNY     40.09
ZHOUSHAN DINGHAI STATE-    7.13      08/04/21      CNY     20.07
ZHOUSHAN DINGHAI STATE-    7.13      08/04/21      CNY     20.18
ZHOUSHAN ISLANDS NEW DI    6.98      10/22/22      CNY     40.55
ZHOUSHAN ISLANDS NEW DI    6.98      10/22/22      CNY     40.80
ZHOUSHAN PUTUO DISTRICT    7.18      06/20/22      CNY     40.59
ZHOUSHAN PUTUO DISTRICT    7.18      06/20/22      CNY     41.90
ZHUHAI HUIHUA INFRASTRU    4.70      06/27/23      CNY     59.71
ZHUHAI HUIHUA INFRASTRU    4.70      06/27/23      CNY     60.06
ZHUJI CITY EAST NEW TOW    3.89      08/26/23      CNY     59.81
ZHUJI CITY YUEDU INVEST    6.38      04/07/22      CNY     20.30
ZHUJI CITY YUEDU INVEST    6.38      04/07/22      CNY     20.40
ZHUZHOU CITY CONSTRUCTI    8.36      11/10/21      CNY     23.75
ZHUZHOU GECKOR GROUP CO    6.38      04/17/22      CNY     20.00
ZHUZHOU GECKOR GROUP CO    6.38      04/17/22      CNY     20.07
ZHUZHOU GECKOR GROUP CO    6.95      08/11/21      CNY     20.12
ZHUZHOU GECKOR GROUP CO    6.95      08/11/21      CNY     20.86
ZHUZHOU GECKOR GROUP CO    3.78      09/28/23      CNY     58.20
ZHUZHOU GECKOR GROUP CO    3.78      09/28/23      CNY     58.59
ZHUZHOU HI-TECH AUTO EX    4.47      11/03/23      CNY     73.96
ZHUZHOU RECYCLING ECONO    4.38      03/24/23      CNY     37.37
ZHUZHOU RECYCLING ECONO    4.38      03/24/23      CNY     38.47
ZHUZHOU XIANGJIANG SCEN    5.39      11/25/22      CNY     37.36
ZHUZHOU XIANGJIANG SCEN    5.39      11/25/22      CNY     37.42
ZIBO BANYANG CITY URBAN    5.50      09/09/22      CNY     39.70
ZIBO BANYANG CITY URBAN    5.50      09/09/22      CNY     40.00
ZIBO BOSHAN STATE OWNED    5.63      03/29/24      CNY     58.95
ZIBO BOSHAN STATE OWNED    5.63      03/29/24      CNY     61.03
ZIXING CHENGCHENG INVES    6.20      03/16/24      CNY     61.68
ZIXING CHENGCHENG INVES    6.20      03/16/24      CNY     61.72
ZIYANG WATER INVESTMENT    3.97      03/17/23      CNY     37.49
ZIYANG WATER INVESTMENT    3.97      03/17/23      CNY     37.49
ZIZHONG COUNTY XINGZI I    5.97      01/18/23      CNY     38.68
ZIZHONG COUNTY XINGZI I    5.97      01/18/23      CNY     39.68
ZONGYANG INVESTMENT DEV    5.85      04/25/24      CNY     61.60
ZUNYI ECONOMIC DEVELOPM    4.87      01/22/23      CNY     38.22
ZUNYI ECONOMIC DEVELOPM    4.87      01/22/23      CNY     40.00
ZUNYI HONGHUAGANG DISTR    5.05      06/27/23      CNY     57.90
ZUNYI HONGHUAGANG DISTR    5.05      06/27/23      CNY     58.80
ZUNYI NEW DISTRICT DEVE    5.99      04/07/26      CNY     44.68
ZUNYI NEW DISTRICT DEVE    5.99      04/07/26      CNY     54.24
ZUNYI ROAD & BRIDGE CON    6.10      04/27/23      CNY     36.74
ZUNYI ROAD & BRIDGE CON    6.10      04/27/23      CNY     45.00
ZUNYI TRAFFIC TRAVEL IN    7.70      09/27/27      CNY     67.00
ZUNYI TRAFFIC TRAVEL IN    7.70      09/27/27      CNY     70.67


   HONG KONG
   ---------

CAIYUN INTERNATIONAL IN    5.50      04/08/22      USD     58.43
DR PENG HOLDING HONGKON    7.55      12/01/22      USD     62.70
HNA GROUP INTERNATIONAL    6.25      10/05/21      USD     54.50


   INDONESIA
   ---------

DAVOMAS INTERNATIONAL F   11.00      05/09/11      USD      0.00
DAVOMAS INTERNATIONAL F   11.00      05/09/11      USD      0.00
DAVOMAS INTERNATIONAL F   11.00      12/08/14      USD      0.00
DAVOMAS INTERNATIONAL F   11.00      12/08/14      USD      0.00
DELTA MERLIN DUNIA TEKS    1.50      06/26/28      USD     10.92
MNC INVESTAMA TBK PT       9.00      05/11/21      USD     68.37
SRI REJEKI ISMAN TBK PT    7.25      01/16/25      USD     26.92
SRI REJEKI ISMAN TBK PT    7.25      01/16/25      USD     27.17


   INDIA
   -----

3I INFOTECH LTD            2.50      03/31/25      USD      9.88
ACME MEDAK SOLAR ENERGY    0.01      08/29/46      INR     16.85
ACME RANGA REDDY SOLAR     0.01      08/31/46      INR     16.74
AMPSOLAR SOLUTION PVT L    0.01      11/03/37      INR     29.03
AMPSOLAR SOLUTION PVT L    0.01      10/27/37      INR     29.07
APG HABITAT PVT LTD        1.00      09/09/28      INR     62.97
APG INTELLI HOMES PVT L    1.25      02/04/35      INR     46.07
APG INTELLI HOMES PVT L    1.25      02/04/35      INR     46.71
ASSETS CARE & RECONSTRU    2.00      03/30/29      INR     68.22
AUTOMOTIVE EXCHANGE PVT    4.00      10/11/30      INR     63.41
AUTOMOTIVE EXCHANGE PVT    4.00      06/01/30      INR     63.62
BREEZE CONSTRUCTIONS PV    0.01      06/29/30      INR     47.97
BRITANNIA INDUSTRIES LT    8.00      08/28/22      INR     31.10
CHANDRAJYOTI ESTATE DEV    0.01      07/06/30      INR     49.18
CREIXENT SPECIAL STEELS    0.01      08/28/25      INR     72.02
CUMULUS TRADING CO PVT     0.01      05/21/32      INR     41.77
CUMULUS TRADING CO PVT     0.01      01/23/30      INR     65.68
DEWAN HOUSING FINANCE C    8.50      04/18/23      INR     26.79
DLF ASPINWAL HOTELS PVT    0.01      10/15/30      INR     45.47
DLF EMPORIO RESTAURANTS    0.01      08/12/30      INR     48.78
DLF EMPORIO RESTAURANTS    0.01      06/29/30      INR     49.23
DLF HOME DEVELOPERS LTD    0.01      06/29/30      INR     51.37
DLF HOMES SERVICES PVT     0.01      06/29/30      INR     47.97
DLF REAL ESTATE BUILDER    0.01      06/23/30      INR     49.22
DLF RECREATIONAL FOUNDA    0.01      10/15/30      INR     45.92
DLF RESIDENTIAL BUILDER    0.01      06/23/30      INR     48.00
DLF RESIDENTIAL DEVELOP    0.01      06/28/30      INR     49.12
DLF SOUTHERN TOWNS PVT     0.01      07/09/30      INR     49.30
DOMUS REAL ESTATE PVT L    0.01      07/11/30      INR     49.31
ECAP EQUITIES LTD          0.01      03/26/31      INR     48.65
EDEL LAND LTD              0.01      03/22/26      INR     68.93
EDELWEISS ASSET RECONST    2.00      07/22/29      INR     66.47
EDELWEISS ASSET RECONST    2.00      03/28/29      INR     67.53
EDELWEISS ASSET RECONST    2.00      01/15/29      INR     68.23
EDELWEISS ASSET RECONST    2.00      10/07/28      INR     69.22
EDELWEISS ASSET RECONST    2.00      11/20/27      INR     72.56
ESSAR POWER TRANSMISSIO    3.00      03/31/43      INR     51.57
ESSAR POWER TRANSMISSIO    3.00      03/31/43      INR     51.57
GREEN URJA PVT LTD         0.01      02/14/30      INR     51.19
GTL INFRASTRUCTURE LTD     6.73      10/26/22      USD     10.38
HITODI INFRASTRUCTURE L    0.01      06/30/27      INR     62.18
JAIPRAKASH ASSOCIATES L    5.75      09/08/17      USD     55.13
JAIPRAKASH POWER VENTUR    7.00      05/15/17      USD      4.58
JCT LTD                    2.50      04/08/11      USD     25.75
JSM CORP PVT LTD           0.01      08/31/36      INR     30.99
JTPM ATSALI LTD            0.01      08/29/48      INR     14.19
KANAKADURGA FINANCE LTD    0.01      04/15/36      INR     29.74
KRIBHCO INFRASTRUCTURE     1.00      04/15/26      INR     73.92
MARIS POWER SUPPLY CO P    2.00      04/18/28      INR     70.52
MELOSA BUILDERS & DEVEL    0.01      06/29/30      INR     48.01
MENS BUILDCON PVT LTD      0.01      06/29/30      INR     48.01
MYTRAH AADHYA POWER PVT    0.01      07/05/35      INR     34.42
MYTRAH ADVAITH POWER PV    0.01      07/13/36      INR     31.93
MYTRAH AKSHAYA ENERGY P    0.01      07/13/36      INR     31.93
NEEMUCH SOLAR POWER PVT    0.01      08/29/46      INR     16.85
ORIGAMI CELLULO PVT LTD    0.01      11/14/36      INR     30.61
PRAKASH INDUSTRIES LTD     5.25      04/30/15      USD     22.63
PUNJAB INFRASTRUCTURE D    0.40      10/15/33      INR     45.50
PUNJAB INFRASTRUCTURE D    0.40      10/15/32      INR     48.40
PUNJAB INFRASTRUCTURE D    0.40      10/15/31      INR     51.65
PUNJAB INFRASTRUCTURE D    0.40      10/15/30      INR     55.23
PUNJAB INFRASTRUCTURE D    0.40      10/15/29      INR     59.14
PUNJAB INFRASTRUCTURE D    0.40      10/15/28      INR     63.39
PUNJAB INFRASTRUCTURE D    0.40      10/15/27      INR     68.01
PUNJAB INFRASTRUCTURE D    0.40      10/15/26      INR     72.97
PURVANCHAL SOLAR POWER     0.01      08/29/46      INR     16.85
PYRAMID SAIMIRA THEATRE    1.75      07/04/12      USD      0.26
R L FINE CHEM PVT LTD      0.10      08/19/36      INR     31.53
RAMANI ICECREAM CO LTD     0.01      12/29/35      INR     33.82
REDKITE CAPITAL PVT LTD    2.50      03/30/29      INR     70.37
REDKITE CAPITAL PVT LTD    2.50      01/15/28      INR     74.47
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      8.96
REWANCHAL SOLAR POWER P    0.01      08/29/46      INR     16.85
SAKET HOLIDAYS RESORTS     0.01      06/29/30      INR     49.03
SHIVAJI MARG MAINTENANC    0.01      06/28/30      INR     48.06
SINTEX INDUSTRIES LTD      3.50      05/25/22      USD     23.63
SUNWORLD SOLAR POWER PV    0.01      08/31/46      INR     16.74
SURBHI INVESTMENTS & TR    2.50      10/21/28      INR     71.17
SUTARA ROADS & INFRA LT    0.01      08/31/30      INR     56.63
SUZLON ENERGY LTD          5.75      07/16/19      USD     23.50
SUZLON ENERGY LTD          5.75      07/16/19      USD     23.50
SVOGL OIL GAS & ENERGY     5.00      08/17/15      USD      0.61
TATA SMARTFOODZ LTD        0.01      04/18/26      INR     67.56
TATA SMARTFOODZ LTD        0.01      11/23/25      INR     70.08
TATA SMARTFOODZ LTD        0.01      07/15/25      INR     72.36
TN URJA PVT LTD            0.10      02/22/36      INR     33.82
WATSUN INFRABUILD PVT L    4.00      10/16/37      INR     62.60
WS T&D LTD                 0.10      03/24/29      INR     54.97


   JAPAN
   -----

AVANSTRATE INC             0.15      10/29/32      JPY      9.75
HIS CO LTD                 0.58      02/19/27      JPY     65.37
MITSUI E&S HOLDINGS CO     0.70      09/15/23      JPY     73.91
TKJP CORP                  1.02      12/15/17      JPY      0.50
TKJP CORP                  0.85      03/06/19      JPY      2.02
TKJP CORP                  0.58      03/26/21      JPY      2.02
UNIZO HOLDINGS CO LTD      1.50      11/26/27      JPY     25.09
UNIZO HOLDINGS CO LTD      1.20      05/28/27      JPY     25.90
UNIZO HOLDINGS CO LTD      0.99      11/27/26      JPY     26.19
UNIZO HOLDINGS CO LTD      1.10      11/28/24      JPY     31.06
UNIZO HOLDINGS CO LTD      0.89      05/29/24      JPY     32.05
UNIZO HOLDINGS CO LTD      0.80      11/29/23      JPY     35.00
UNIZO HOLDINGS CO LTD      0.85      05/26/23      JPY     35.98
UNIZO HOLDINGS CO LTD      0.75      11/28/22      JPY     42.01
UNIZO HOLDINGS CO LTD      0.52      05/27/22      JPY     49.14
UNIZO HOLDINGS CO LTD      0.43      11/29/21      JPY     58.39


   MALAYSIA
   --------

ASIAN PAC HOLDINGS BHD     3.00      05/25/22      MYR      0.90
BERJAYA CORP BHD           2.00      05/29/26      MYR      0.26
BERJAYA CORP BHD           5.00      04/22/22      MYR      0.35
ELK-DESA RESOURCES BHD     3.25      04/14/22      MYR      1.08
HIAP TECK VENTURE BHD      5.00      06/23/21      MYR      0.50
HUME CEMENT INDUSTRIES     5.00      05/29/24      MYR      1.79
MALAYAN FLOUR MILLS BHD    5.00      01/24/24      MYR      1.86
MEX II SDN BHD             6.40      04/28/34      MYR     66.01
MEX II SDN BHD             6.30      04/29/33      MYR     66.84
MEX II SDN BHD             6.20      04/29/32      MYR     67.90
MEX II SDN BHD             6.10      04/29/31      MYR     69.25
MEX II SDN BHD             6.00      04/29/30      MYR     69.69
MEX II SDN BHD             5.90      04/27/29      MYR     70.73
MEX II SDN BHD             5.80      04/28/28      MYR     72.06
MEX II SDN BHD             5.70      04/29/27      MYR     73.20
PENGURUSAN AIR SPV BHD     1.00      02/05/36      MYR     61.99
PENGURUSAN AIR SPV BHD     1.00      11/05/35      MYR     62.49
PENGURUSAN AIR SPV BHD     1.00      09/28/35      MYR     62.90
PMB TECHNOLOGY BHD         3.00      07/12/23      MYR      5.60
SENAI-DESARU EXPRESSWAY    1.35      06/30/31      MYR     69.81
SENAI-DESARU EXPRESSWAY    1.35      12/31/30      MYR     71.31
SENAI-DESARU EXPRESSWAY    1.35      06/28/30      MYR     72.78
SENAI-DESARU EXPRESSWAY    1.35      12/31/29      MYR     74.21
VIZIONE HOLDINGS BHD       3.00      08/08/21      MYR      0.02


   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
   ---------

ASL MARINE HOLDINGS LTD    3.00      03/28/25      SGD     41.75
ASL MARINE HOLDINGS LTD    3.00      10/01/26      SGD     41.75
BAKRIE TELECOM PTE LTD    11.50      05/07/15      USD      0.07
BAKRIE TELECOM PTE LTD    11.50      05/07/15      USD      0.07
BLD INVESTMENTS PTE LTD    8.63      03/23/15      USD      4.88
BLUE OCEAN RESOURCES PT    8.00      12/31/21      USD     22.00
BLUE OCEAN RESOURCES PT    8.00      12/31/21      USD     22.00
BLUE OCEAN RESOURCES PT    8.00      12/31/21      USD     22.00
ENERCOAL RESOURCES PTE     9.25      08/05/14      USD     45.75
ETERNA CAPITAL PTE LTD     8.00      12/11/22      USD     46.90
ETERNA CAPITAL PTE LTD     7.50      12/11/22      USD     68.82
EZRA HOLDINGS LTD          4.88      04/24/18      SGD      5.00
GOLDEN LEGACY PTE LTD      6.88      03/27/24      USD     27.39
GOLDEN LEGACY PTE LTD      6.88      03/27/24      USD     27.46
INDO INFRASTRUCTURE GRO    2.00      07/30/10      USD      1.00
INNOVATE CAPITAL PTE LT    6.00      12/11/24      USD     25.41
ITNL OFFSHORE PTE LTD      7.50      01/18/21      CNY     17.25
JGC VENTURES PTE LTD      10.75      08/30/21      USD     39.00
MICLYN EXPRESS OFFSHORE    8.75      11/25/18      USD     16.23
MODERNLAND OVERSEAS PTE    6.95      04/13/24      USD     40.12
NT RIG HOLDCO PTE LTD      7.50      12/20/21      USD     58.13
ORO NEGRO DRILLING PTE     7.50      01/24/19      USD     14.28
PACIFIC RADIANCE LTD       4.30      03/31/20      SGD     10.00
RICKMERS MARITIME          8.45      05/15/17      SGD      5.00
SSMS PLANTATION HOLDING    7.75      01/23/23      USD     69.81
SWIBER CAPITAL PTE LTD     6.25      10/30/17      SGD      4.20
SWIBER CAPITAL PTE LTD     6.50      08/02/18      SGD      4.20
SWIBER HOLDINGS LTD        7.13      04/18/17      SGD      6.13
SWIBER HOLDINGS LTD        7.75      09/18/17      CNY      6.13
SWIBER HOLDINGS LTD        5.55      10/10/16      SGD     12.25


   SOUTH KOREA
   -----------

HEUNGKUK FIRE & MARINE     5.70      12/29/46      KRW     42.14
KIBO ABS SPECIALTY CO L    5.00      02/24/23      KRW     71.81
KIBO ABS SPECIALTY CO L    5.00      02/28/22      KRW     73.01
KIBO ABS SPECIALTY CO L    5.00      02/24/22      KRW     73.87
KIBO ABS SPECIALTY CO L    5.00      08/28/21      KRW     74.59
LOTTE CARD CO LTD          0.18      06/28/49      KRW     37.34
POSCO ENERGY CO LTD        5.21      08/29/43      KRW     64.57
SAMPYO CEMENT CO LTD       8.30      04/20/14      KRW     70.00
SAMPYO CEMENT CO LTD       7.50      07/20/14      KRW     70.00
SAMPYO CEMENT CO LTD       8.30      09/10/14      KRW     70.00
SAMPYO CEMENT CO LTD       8.10      04/12/15      KRW     70.00
SAMPYO CEMENT CO LTD       8.10      06/26/15      KRW     70.00
SINBO SECURITIZATION SP    5.00      01/26/22      KRW     62.49
SINBO SECURITIZATION SP    5.00      01/25/22      KRW     62.50
SINBO SECURITIZATION SP    5.00      02/23/22      KRW     62.76
SINBO SECURITIZATION SP    5.00      06/27/22      KRW     64.48
SINBO SECURITIZATION SP    3.00      11/21/23      KRW     64.58
SINBO SECURITIZATION SP    5.00      07/24/22      KRW     64.75
SINBO SECURITIZATION SP    5.00      07/26/22      KRW     64.76
SINBO SECURITIZATION SP    5.00      08/31/21      KRW     65.29
SINBO SECURITIZATION SP    5.00      09/26/22      KRW     65.77
SINBO SECURITIZATION SP    5.00      08/29/22      KRW     65.86
SINBO SECURITIZATION SP    5.00      01/25/23      KRW     65.86
SINBO SECURITIZATION SP    5.00      08/31/22      KRW     65.88
SINBO SECURITIZATION SP    4.00      04/15/24      KRW     66.03
SINBO SECURITIZATION SP    4.00      12/25/23      KRW     66.26
SINBO SECURITIZATION SP    4.00      12/25/23      KRW     66.26
SINBO SECURITIZATION SP    4.00      06/30/24      KRW     66.65
SINBO SECURITIZATION SP    4.00      06/30/24      KRW     66.65
SINBO SECURITIZATION SP    3.00      01/29/24      KRW     66.92
SINBO SECURITIZATION SP    5.00      07/24/23      KRW     67.07
SINBO SECURITIZATION SP    5.00      06/30/23      KRW     67.13
SINBO SECURITIZATION SP    5.00      06/27/23      KRW     67.13
SINBO SECURITIZATION SP    5.00      10/24/23      KRW     67.67
SINBO SECURITIZATION SP    5.00      10/24/23      KRW     67.67
SINBO SECURITIZATION SP    5.00      07/26/21      KRW     67.88
SINBO SECURITIZATION SP    5.00      09/26/23      KRW     67.88
SINBO SECURITIZATION SP    5.00      09/26/23      KRW     67.88
SINBO SECURITIZATION SP    5.00      09/26/23      KRW     67.88
SINBO SECURITIZATION SP    5.00      08/29/23      KRW     68.07
SINBO SECURITIZATION SP    5.00      08/29/23      KRW     68.07
SINBO SECURITIZATION SP    5.00      11/21/23      KRW     68.61
SINBO SECURITIZATION SP    5.00      02/27/24      KRW     68.75
SINBO SECURITIZATION SP    4.00      01/29/24      KRW     68.90
SINBO SECURITIZATION SP    4.00      01/29/24      KRW     68.90
SINBO SECURITIZATION SP    5.00      06/30/24      KRW     68.97
SINBO SECURITIZATION SP    5.00      01/29/23      KRW     70.55
SINBO SECURITIZATION SP    5.00      12/25/22      KRW     70.81
SINBO SECURITIZATION SP    5.00      12/25/23      KRW     71.15
SINBO SECURITIZATION SP    5.00      02/28/22      KRW     73.01
SINBO SECURITIZATION SP    5.00      03/20/23      KRW     73.31
SINBO SECURITIZATION SP    5.00      02/28/23      KRW     73.48
SINBO SECURITIZATION SP    5.00      12/27/21      KRW     73.69
SINBO SECURITIZATION SP    5.00      06/29/21      KRW     74.88
STANDARD CHARTERED BANK    3.02      11/10/35      KRW     74.78
STANDARD CHARTERED BANK    3.00      10/16/35      KRW     74.92


   SRI LANKA
   ---------

SRI LANKA DEVELOPMENT B    4.77      01/22/25      USD     63.25
SRI LANKA DEVELOPMENT B    5.98      01/22/25      USD     65.25
SRI LANKA DEVELOPMENT B    6.02      01/22/25      USD     65.35
SRI LANKA DEVELOPMENT B    6.05      01/22/25      USD     65.43
SRI LANKA DEVELOPMENT B    6.50      01/22/25      USD     66.57
SRI LANKA DEVELOPMENT B    6.75      01/22/25      USD     67.20
SRI LANKA DEVELOPMENT B    6.80      01/22/25      USD     67.33
SRI LANKA DEVELOPMENT B    6.82      01/22/25      USD     67.38
SRI LANKA DEVELOPMENT B    6.87      01/22/25      USD     67.51
SRI LANKA DEVELOPMENT B    4.09      05/01/23      USD     72.94
SRI LANKA DEVELOPMENT B    4.13      05/01/23      USD     73.00
SRI LANKA DEVELOPMENT B    4.22      03/16/23      USD     74.28
SRI LANKA GOVERNMENT IN    6.75      04/18/28      USD     62.87
SRI LANKA GOVERNMENT IN    6.20      05/11/27      USD     62.99
SRI LANKA GOVERNMENT IN    7.85      03/14/29      USD     62.99
SRI LANKA GOVERNMENT IN    6.20      05/11/27      USD     63.05
SRI LANKA GOVERNMENT IN    7.55      03/28/30      USD     63.09
SRI LANKA GOVERNMENT IN    7.85      03/14/29      USD     63.10
SRI LANKA GOVERNMENT IN    6.75      04/18/28      USD     63.14
SRI LANKA GOVERNMENT IN    7.55      03/28/30      USD     63.15
SRI LANKA GOVERNMENT IN    6.83      07/18/26      USD     64.16
SRI LANKA GOVERNMENT IN    6.83      07/18/26      USD     64.20
SRI LANKA GOVERNMENT IN    6.85      11/03/25      USD     65.04
SRI LANKA GOVERNMENT IN    6.13      06/03/25      USD     65.09
SRI LANKA GOVERNMENT IN    6.85      11/03/25      USD     65.12
SRI LANKA GOVERNMENT IN    6.13      06/03/25      USD     65.19
SRI LANKA GOVERNMENT IN    6.35      06/28/24      USD     68.09
SRI LANKA GOVERNMENT IN    6.35      06/28/24      USD     68.13
SRI LANKA GOVERNMENT IN    6.85      03/14/24      USD     68.21
SRI LANKA GOVERNMENT IN    6.85      03/14/24      USD     68.27
SRI LANKA GOVERNMENT IN    5.75      04/18/23      USD     71.06
SRI LANKA GOVERNMENT IN    5.75      04/18/23      USD     71.09
SRILANKAN AIRLINES LTD     7.00      06/25/24      USD     61.17


   THAILAND
   --------

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


                           *********


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 2021.  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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