T R O U B L E D C O M P A N Y R E P O R T E R E U R O P E Friday, November 23, 2007, Vol. 8, No. 233 Headlines A U S T R I A AUREON BIOSYSTEMS: Claims Registration Period Ends Nov. 30 ROFANDRUCK KG: Claims Registration Period Ends Dec. 21 WERRIS HANDEL: Vienna Court Orders Business Shutdown B E L G I U M M FABRIKANT: Court Sets Dec. 7 as Admin Expense Bar Date POPE & TALBOT: European Subsidiary Files Bankruptcy in Belgium POPE & TALBOT: Agrees to Sell Three Sawmills to Interfor QUEBECOR WORLD: Poor Liquidity Prompts S&P to Cut Rating to B- F R A N C E ASPEN TECH: Reports Selected Prelim First Qtr. Financial Results ASPEN TECH: Form 10-Q Filing Delay Cues Nasdaq Delisting Notice FRESH DEL MONTE: S&P Affirms Corporate Credit Rating at BB- XEROX CORP: Declares US$0.0425 Per Share Quarterly Dividend G E R M A N Y AMBIENTE-WOHNEN LICHT: Creditors' Meeting Slated for Dec. 3 ANLAGEN & KESSELBAU: Claims Registration Period Ends Dec. 11 BARG-HAUSTECHNIK-GMBH: Claims Registration Period Ends Nov. 30 BENDER GMBH: Claims Registration Period Ends Jan. 11 CHRYSLER LLC: Financing Deal Bump Signals More Debt Market Woes CONNECT INFORMATIK: Claims Registration Period Ends Dec. 12 FLORITO BLUMENHANDELS: Creditors' Meeting Slated for December 4 GEMINI ELECTRONIC: Claims Registration Ends January 2, 2008 GOEGASTRO GMBH: Claims Registration Period Ends Dec. 13 KLK STAHLTECHNIK: Claims Registration Period Ends Dec. 14 MACKOWIAK TRANSPORT: Claims Registration Ends January 4, 2008 NORDBAU TIEF: Claims Registration Period Ends Dec. 31 ROAD MASTERS: Claims Registration Ends December 18 SCHLOSSER GMBH: Creditors' Meeting Slated for December 10 TEKNO KALTETECHNIK: Claims Registration Period Ends Dec. 31 TREND & DESIGN: Claims Registration Period Ends Dec. 27 VV CONSULTING: Claims Registration Period Ends Dec. 10 WAGNER RESEARCH: Claims Registration Ends December 17 WAGNER WERTPAPIERABRECHNUNGS: Claims Registration Ends Dec. 17 WEVO INGENIEUR: Claims Registration Ends December 18 I R E L A N D ADVANCED MEDICAL: Names Richard Meier as President AFFILIATED COMPUTER: Inks US$18.5-Million Deal w/ Idaho Medicaid WATERFORD WEDGWOOD: Cost-Cutting Measures to Affect 1,400 Jobs I T A L Y ALITALIA SPA: May Pick Winning Bidder by Mid-December 2007 ALITALIA SPA: Hikes Year-on-Year Traffic in October 2007 FREESCALE SEMICON: Depressed Revenues Cue S&P to Cut Rating K A Z A K H S T A N AK BARYS: Proof of Claim Deadline Slated for Dec. 22 BEREKE LLP: Creditors Must File Claims Dec. 22 CONTINENT-TARAZ LLP: Claims Filing Period Ends Dec. 22 ELIT INVEST-LTD: Creditors' Claims Due on Dec. 22 GRATSIYA LLP: Claims Registration Ends Dec. 22 MILLENIUM ASSETS: Proof of Claim Deadline Slated for Dec. 22 REA-CONSULTING LLP: Creditors Must File Claims Dec. 22 TIMKO INSAAT-KZ: Claims Filing Period Ends Dec. 22 YNTYMAK LLP: Creditors' Claims Due on Dec. 22 K Y R G Y Z S T A N HILLY AND JOHN: Proof of Claim Deadline Slated for December 26 L U X E M B O U R G EVRAZ GROUP: EC Extends Highveld Asset Sale Deadline to Jan. 20 N E T H E R L A N D S BAUSCH & LOMB: Hires Robert Bailey as Corporate Vice President FIRST DATA: Inks Quickpay Agreement with Tim Hortons FLOWSERVE CORP: Selling Rail Business-Related Assets to Vossloh KONINKLIJKE AHOLD: Earns EUR2.68 Bln for First Nine Months 2007 KRATON POLYMERS: Moody's Affirms B1 Corporate Family Rating NXP BV: S&P Cuts Long-Term Rating to B+ on High Leverage P O R T U G A L LEAR CORP: Makes Two Executive Position Appointments R U S S I A BANK URALSIB: Modest Profitability Cues Fitch to Hold B+ IDR BRISTOW GROUP: Board Declares US$0.68750 Per Share Dividend BRYANSKIJ OJSC: Creditors Must File Claims by Dec. 10 EVRAZ GROUP: EC Extends Highveld Asset Sale Deadline to Jan. 20 IC RUSS-INVEST: Volatile Earnings Cue Fitch' B IDR PENZAALCOHOLPROM: Creditors Must File Claims by Jan. 10, 2008 RNP CAUCASUS: Creditors Must File Claims by Jan. 10, 2008 SARMAKOVSKAYA MPMK: Creditors Must File Claims by Jan. 10, 2008 SOUTHERN TELECOMMUNICATIONS: S&P Lifts Ratings to B SOVKHOZ KABARDINSKIJ: Claims Filing Period Ends by Jan. 10, 2008 TMK OAO: Board Recommends RUR3.17 Billion Dividend Payout URALSIB LEASING: Fitch Rates IDR at B+ with Stable Outlook * S&P Puts BB- Rating to Kyiv's US$250 Million Loan S P A I N GAT FTGENCAT: Moody's Junks EUR18.8 Million Series E Notes TOWER AUTOMOTIVE: Reaches Settlement Resolving Michigan's Claim S W I T Z E R L A N D BIRRER.BURKART: Creditors' Liquidation Claims Due by November 30 CEMPROTEC LLC: Creditors' Liquidation Claims Due by November 28 DANSTAR NUTRISCIENCE: Creditors Must File Claims by November 30 ENTERTAINMENT ONE: Creditors' Liquidation Claims Due by Nov. 28 EIWALUX LLC: Basel-Country Court Starts Bankruptcy Proceedings EXPERT MAMIE: Creditors' Liquidation Claims Due by November 30 IT-SUCCESS LLC: Creditors' Liquidation Claims Due by November 30 PC HOLZ-BAUTEN: Thurgau Court Closes Bankruptcy Proceedings SP.ACES JSC: Claims Registration Period Ends November 26 YELLOW ACCESS: Claims Registration Period Ends November 26 ZUM WILDEN: Claims Registration Period Ends November 26 U K R A I N E BALANCE PLUS: Creditors Must File Claims by November 25 BLAGOR-M LLC: Creditors Must File Claims by November 25 ENERGATON LLC: Creditors Must File Claims by November 25 FRAM LLC: Creditors Must File Claims by November 25 JASON LLC: Creditors Must File Claims by November 25 PROFESSIONAL DESINFECTION: Creditors Must File Claims by Nov. 25 TAKO OJSC: Claims Filing Bar Date Set November 25 TARGA LUX: Creditors Must File Claims by November 25 TIBAN LLC: Creditors Must File Claims by November 25 U N I T E D K I N G D O M ALERIS INT'L: Selling US Zinc Business for US$295 Million AQUACLEAR LTD: Claims Filing Period Ends December 10 AXON FINANCIAL: Fitch Junks Mezzanine Notes on Payment Default CABLE & WIRELESS: Excessive Executive Payout Angers Investors CHASE CARTER: Joint Liquidators Take Over Operations CHESTERTON PLC: Arqaam Capital Sells Stake in Chesterton ENRON CORP: Shareholders' Lead Counsel Seeks US$700MM Legal Fees FOOT LOCKER: Posts US$33 Million Net Loss in Qtr. Ended Nov. 3 GENERAL MOTORS: UAW Members Wary on GM's Exposure to ResCap Woes HIGHBRIDGE SCAFFOLDING: Taps Liquidators from Tenon Recovery LIMITED BRANDS: Earns US$12.1 Million in Period Ended November 3 LYONDELL CHEMICAL: Shareholders Approve Basell Merger Plan LYONDELL CHEMICAL: Launches Cash Tender Offer for US$4-Bln Notes NEWGATE FUNDING: Moody's Rates Class E Mortgage Notes at (P)Ba3 NORTHERN ROCK: ResCap Mulls Merger to Avert Bankruptcy: Sources OER FRANCHISING: Brings In Liquidators from Chantrey Vellacott PROFESSIONAL WINDOWS: Claims Filing Period Ends December 31 R & J PRODUCE: Calls In Liquidators from Mazars REMY WORLDWIDE: Court Approves AP Services as Crisis Manager SCOTTISH RE: Names Samir Shah as Chief Risk Officer SCOTTISH RE: New York Court Partially Dismisses Securities Suit YELL GROUP: Earns GBP83.9 Million for 6-Months Ended Sept. 2007 * BOOK REVIEW: Building American Cities: The Urban Real Estate Game ********* ============= A U S T R I A ============= AUREON BIOSYSTEMS: Claims Registration Period Ends Nov. 30 ---------------------------------------------------------- Creditors owed money by LLC Aureon Biosystems (FN 114282m) have until Nov. 30 to file written proofs of claim to court-appointed estate administrator Daniel Lampersberger at: Mag. Daniel Lampersberger Esteplatz 4 1030 Vienna Austria Tel: 712 33 30-0 Fax: 712 33 30-30 E-mail: kanzlei@engelhart.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 10:30 a.m. on Dec. 14 for the examination of claims. The meeting of creditors will be held at: The Trade Court of Vienna Room 1607 Vienna Austria Headquartered in Vienna, Austria, the Debtor declared bankruptcy on Oct. 22 (Bankr. Case No. 28 S 120/07m). ROFANDRUCK KG: Claims Registration Period Ends Dec. 21 ------------------------------------------------------ Creditors owed money by KG Rofandruck (FN 194757h) have until Dec. 21 to file written proofs of claim to court-appointed estate administrator Walter Rupprechter at: Mag. Walter Rupprechter c/o Dr. Ingrid Hochstaffl-Salcher LLC Hochstaffl & Rupprechter Rechtsanwalte Bahnhofstrasse 37 6300 Woergl Austria Tel: 05332/71 800 Fax: 05332/718007 E-Mail: mail@hochstaffl-rupprechter.com Creditors and other interested parties are encouraged to attend the creditors' meeting at 8:45 a.m. on Jan. 1, 2008, for the examination of claims. The meeting of creditors will be held at: The Land Court of Innsbruck Room 214 Second Floor Maximilianstrasse 4 6020 Innsbruck Austria Headquartered in Jenbach, Austria, the Debtor declared bankruptcy on Oct. 19 (Bankr. Case No. 7 S 61/07s). Ingrid Hochstaffl-Salcher represents Mag. Rupprechter in the bankruptcy proceedings. WERRIS HANDEL: Vienna Court Orders Business Shutdown ---------------------------------------------------- The Trade Court of Vienna entered Oct. 19 an order shutting down the business of LLC WERRIS Handel (FN 188628w). Court-appointed estate administrator Stephan Riel recommended the business shutdown after determining that the continuing operations would reduce the value of the estate. The estate administrator can be reached at: Dr. Stephan Riel c/o Dr. Johannes Jaksch Landstrasser Hauptstrasse Ť 1030 Vienna Austria Tel: 713 44 33 Fax: 713 10 33 E-mail: kanzlei@jsr.at Headquartered in Vienna, Austria, the Debtor declared bankruptcy on Oct. 4 (Bankr. Case No 5 S 117/07a). Johannes Jaksch represents Dr. Riel in the bankruptcy proceedings. ============= B E L G I U M ============= M FABRIKANT: Court Sets Dec. 7 as Admin Expense Bar Date -------------------------------------------------------- The United States Bankruptcy Court for the Southern District of New York set Dec. 7, 2007, as the Administrative Expense Bar Date in M. Fabrikant & Sons Inc. and Fabrikant-Leer International Ltd.'s bankruptcy cases. Administrative expense proofs of claim must be filed, so as to be received on or before Dec. 7, 2007, to one of these addresses: If by mail: United States Bankruptcy Court Southern District of New York Re: M. Fabrikant & Sons Inc., el al., Claims Processing P.O. Box 5197, Bowling Green Station New York, NY 10274 If by hand delivery or overnight courier: United States Bankruptcy Court Southern District of New York Re: N, Fabrikant & Sons Inc., et al., Claims Processing One Bowling Green, Room 534 New York, NY 10004 About M. Fabrikant Headquartered in New York City, M. Fabrikant & Sons Inc. -- http://www.fabrikant.com/-- sells diamonds and jewelries. Established in 1895, the Company is one of the oldest diamond and jewelry wholesaler in the world, including Japan, Canada, China, Thailand, Israel, Belgium, and Italy. The company and its affiliate, Fabrikant-Leer International Ltd., filed for chapter 11 protection on Nov. 17, 2006 (Bankr. S.D.N.Y. Lead Case No. 06-12737). Mitchel H. Perkiel, Esq., Lee W. Stremba, Esq., and Paul H. Deutch, Esq., at Troutman Sanders LLP represent the Debtors in their restructuring efforts. Alan Kolod, Esq., Lawrence L. Ginsberg, Esq., and Christopher J. Caruso, Esq., at Moses & Singer LLP serve as counsel to the Official Committee of Unsecured Creditors. In schedules filed with the Court, M. Fabrikant disclosed total assets of US$225,612,204 and total debts of US$439,993,890. POPE & TALBOT: European Subsidiary Files Bankruptcy in Belgium -------------------------------------------------------------- Pope & Talbot, Inc. disclosed that its subsidiary, Pope & Talbot Pulp Sales Europe, LLC, filed an application for relief under Belgian bankruptcy laws in the commercial court in Brussels. If the Belgian court grants the company's application, it is expected that the Pope & Talbot Pulp Sales Europe, LLC will be liquidated through the bankruptcy proceeding. As reported in the Troubled Company Reporter, Pope & Talbot and certain of its subsidiaries obtained protection from their creditors under the Companies' Creditors Arrangement Act of Canada on Oct. 29, 2007, and filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code on Nov. 19, 2007. The company will use the protections of Chapter 11 and the CCAA to provide additional time for it to continue its restructuring efforts, which include, but are not limited to, the sale of certain or all of the company's assets. "We want to assure our customers that Europe remains an integral part of our business," Harold Stanton, President and CEO of Pope & Talbot, Inc., said. Headquartered in Portland, Oregon, Pope & Talbot Inc. (Other OTC: PTBT.PK) -- http://www.poptal.com/-- is a pulp and wood products business. Pope & Talbot was founded in 1849 and produces market pulp and softwood lumber at mills in the U.S. and Canada. Markets for the company's products include the U.S., Europe, Canada, South America and the Pacific Rim. The company and its U.S. and Canadian subsidiaries applied for protection under the Companies' Creditors Arrangement Act of Canada on Oct. 28, 2007. The Debtors' initial CCAA Stay expires on Nov. 23, 2007. The company and fourteen of its debtor-affiliates filed for Chapter 11 protection on Nov. 19, 2007 (Bankr. D. Del. Lead Case No. 07-11738). Laura Davis Jones, Esq. at Pachulski, Stang, Ziehl & Jones L.L.P. is Debtors' proposed bankruptcy counsel. When the Debtors filed for bankruptcy, they listed total assets of US$681,960,000 and total debts of US$601,090,000. The Debtors' exclusive period to file a plan expires on March 18, 2008. POPE & TALBOT: Agrees to Sell Three Sawmills to Interfor -------------------------------------------------------- Pope & Talbot Inc. has agreed to sell three sawmills and related timber tenures to International Forest Products Limited for roughly US$69 million plus the value of certain current assets and liabilities assumed. The three mills, located in Castlegar, British Columbia, Grand Forks, British Columbia and Spearfish, South Dakota are producers of high-quality softwood lumber products. The transaction is subject to approvals by the U.S. Bankruptcy Court for the District of Delaware and the Superior Court of Justice (Commercial List) for the Province of Ontario, in Canada, and will be effected under procedures that provide for the possibility of competing bids. Headquartered in Portland, Oregon, Pope & Talbot Inc. (Other OTC: PTBT.PK) -- http://www.poptal.com/-- is a pulp and wood products business. Pope & Talbot was founded in 1849 and produces market pulp and softwood lumber at mills in the U.S. and Canada. Markets for the company's products include the U.S., Europe, Canada, South America and the Pacific Rim. The company and its U.S. and Canadian subsidiaries applied for protection under the Companies' Creditors Arrangement Act of Canada on Oct. 28, 2007. The Debtors' initial CCAA Stay expires on Nov. 23, 2007. The company and fourteen of its debtor-affiliates filed for Chapter 11 protection on Nov. 19, 2007 (Bankr. D. Del. Lead Case No. 07-11738). Laura Davis Jones, Esq. at Pachulski, Stang, Ziehl & Jones L.L.P. is Debtors' proposed bankruptcy counsel. When the Debtors filed for bankruptcy, they listed total assets of US$681,960,000 and total debts of US$601,090,000. The Debtors' exclusive period to file a plan expires on March 18, 2008. (Pope & Talbot Bankruptcy News, Issue No. 4; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000) QUEBECOR WORLD: Poor Liquidity Prompts S&P to Cut Rating to B- -------------------------------------------------------------- Standard & Poor's Ratings Services lowered its ratings on Montreal-based printing company Quebecor World Inc. by one notch, including the long-term corporate credit rating to 'B-' from 'B'. At the same time, the ratings remain on CreditWatch with negative implications, where they were placed Aug. 9, 2007. "The downgrade reflects Quebecor World's deteriorating liquidity position following the withdrawal of the company's refinancing plan to raise about CDNUS$750 million by issuing debt and equity," said Standard & Poor's credit analyst Lori Harris. Proceeds from the new issues were to be largely applied to the substantial balance outstanding on the revolving credit facility and to redeem the series 5 preferred shares. Quebecor World views withdrawing the plan as necessary because of adverse financial market conditions, which have led to the company's inability to raise funds under the original terms and conditions. In the near term, management will need to explore future refinancing opportunities, as well as other methods to raise cash, including asset sales and sale leaseback transactions. "Quebecor World has announced that it will hire independent financial advisors to assist in evaluating these alternative actions," Ms. Harris added. On Nov. 7, 2007, the company announced that it had signed a definitive share purchase agreement with Dutch printer RSDB NV (Roto Smeets) to sell Quebecor World's European operations to RSDB. The proposed new company, Roto Smeets Quebecor, which will be the leading player in the European printing industry, will be owned 70.1% by RSDB and 29.9% by Quebecor World. The purchase price for Quebecor World's European business will be EUR 240 million (equal to about US$350 million), to be paid to Quebecor World in cash, RSQ shares, and an eight-year note receivable. S&P expect the transaction to close shortly upon regulatory and RSDB shareholder approvals. Reported revenues and adjusted EBITDA were down 7% and 19%, respectively, for the nine months ended Sept. 30, 2007, compared with the same period in 2006. The weak performance is due to price pressures, volume declines, and operating inefficiencies. The company's recent completion of a significant equipment retooling program should positively affect profitability and cash flow in 2008. However, Standard & Poor's believes management will remain challenged in its efforts to turn around the business because of very difficult printing industry fundamentals, including ongoing pricing pressures and volume declines, electronic substitution, cyclicality, and significant competition. The ratings will remain on CreditWatch until Standard & Poor's is comfortable that the company has addressed its near-term liquidity issues. S&P will continue to monitor developments, including management's future refinancing plans. =========== F R A N C E =========== ASPEN TECH: Reports Selected Prelim First Qtr. Financial Results ---------------------------------------------------------------- Aspen Technology Inc. has selected preliminary financial results for its fiscal first quarter 2008. The company reported license bookings of approximately US$36 million during the fiscal first quarter 2008, with license bookings defined as the total net present value of all license contracts signed in the quarter. This represents an increase of 50% compared to license bookings of approximately US$24 million in the first quarter of fiscal 2007. The company ended Sept. 30, 2007, with US$128 million in cash and cash equivalents, which is a decrease compared to US$132 million at the end of the previous quarter. The sequential decline in cash was primarily due to cash payments related to incentive compensation following the company's record fiscal 2007 results. On a year-over-year basis, the company's cash and cash equivalents increased US$39 million from a balance of US$89 million at Sept. 30, 2006. Mark Fusco, Chief Executive Officer of Aspen Technology, said "We are pleased with the company's operational performance in the first quarter, with strong year-over-year growth in license bookings highlighting what was a strong start to the fiscal year. Our end markets are strong, the company's point solutions and aspenONE suite remain best-in-class and our worldwide organization is executing at a high level." Mr.Fusco added, "With solid market demand, a differentiated value proposition and industry leading domain expertise, we are optimistic about the company's fundamental outlook for the remainder of fiscal 2008." Brad Miller, Chief Financial Officer of AspenTech, said "We have made considerable progress in becoming current with all of our outstanding financial reporting requirements, including the fiscal 2007 10-K and our fiscal first quarter 2008 10-Q. We are committed to addressing these matters and intend to become current in these filings by Jan. 18, 2008, the extension date we requested at our recent hearing with Nasdaq." About Aspen Technology Based in Cambridge, Massachusetts, Aspen Technology Inc. (Nasdaq: AZPN) -- http://www.aspentech.com/-- provides software and professional services that help process companies improve efficiency and profitability by enabling them to model, manage and control their operations. The company has operations in Brazil, Malaysia and France. * * * Aspen Technology carries Moody's B2 long-term corporate family rating and Caa1 equity linked rating. Moody's said the outlook is stable. The company carries Standard & Poor's B long-term foreign and local issuer credit ratings, with negative outlook. ASPEN TECH: Form 10-Q Filing Delay Cues Nasdaq Delisting Notice --------------------------------------------------------------- Aspen Technology has received, as expected, an Additional Staff Determination Letter from the NASDAQ on Nov. 14, 2007, indicating that the company is not in compliance with the requirements for continued listing set forth in Marketplace Rule 4310(c)(14) as a result of the company's failure to file timely with the U.S. the Securities and Exchange Commission the company's Form 10-Q for the quarter ended Sept. 30, 2007. The NASDAQ previously issued a Staff Determination regarding the continued listing of the Company's Stock on the Nasdaq Global Market due to the company's failure to file its Annual Report on Form 10-K for the fiscal year ended June 30, 2007. The November 14 Staff Determination further indicates that non-compliance as a result of the company's failure to file its Form 10-Q serves as an additional basis for delisting the company's stock at the company's request, a hearing on the Staff Determinations was conducted on Nov. 15, 2007, before a Nasdaq Listing Qualifications Panel at which time the company requested an extension to Jan. 18, 2008, to comply with NASDAQ listing requirements. There can be no assurance that the Panel will grant the company's request. AspenTech's delay in filing is attributed to the previously announced intention to restate certain historical financial statements. The company is working diligently to complete its delinquent Forms 10-Q and 10-K. About Aspen Technology Based in Cambridge, Massachusetts, Aspen Technology Inc. (Nasdaq: AZPN) -- http://www.aspentech.com/-- provides software and professional services that help process companies improve efficiency and profitability by enabling them to model, manage and control their operations. The company has operations in Brazil, Malaysia and France. * * * Aspen Technology carries Moody's B2 long-term corporate family rating and Caa1 equity linked rating. Moody's said the outlook is stable. The company carries Standard & Poor's B long-term foreign and local issuer credit ratings, with negative outlook. FRESH DEL MONTE: S&P Affirms Corporate Credit Rating at BB- ----------------------------------------------------------- Standard & Poor's Ratings Services has affirmed its 'BB-' corporate credit rating on Fresh Del Monte Produce Inc., and removed the rating from CreditWatch, where it was placed with positive implications on Nov. 1, 2007. The outlook is stable. "The rating affirmation reflects the uncertain regulatory environment in the produce industry despite the company's stronger credit measures and recently reduced debt levels," said S&P's credit analyst Alison Sullivan. In November 2007, Fresh Del Monte completed its planned equity offering and received about US$116 million in proceeds, most of which was applied to debt reduction under its credit facility. However, the European Commission is still investigating Fresh Del Monte and other competitors in the fruit and vegetable industry, having reason to believe they may have violated European Union competition laws. "It is possible that Fresh Del Monte may be subject to a financial penalty which at this point cannot be quantified," added Ms. Sullivan. "In addition, it is possible that changes may be enacted to the current EU banana tariff system in 2008, and it remains unclear whether these could have an adverse effect on the company." Fresh Del Monte is the No. 1 marketer of fresh pineapples worldwide, and the No. 3 marketer of bananas worldwide. "However, product concentration remains a rating concern," Ms. Sullivan concludes. Based in the Cayman Islands, Fresh Del Monte Produce Inc. -- http://www.freshdelmonte.com/-- is one of the world's leading vertically integrated producers, marketers and distributors of high-quality fresh and fresh-cut fruit and vegetables, as well as a leading producer and distributor of prepared fruit and vegetables, juices, beverages, snacks and desserts in Europe, the Middle East and Africa. Fresh Del Monte markets its products worldwide under the Del Monte(R) brand, a symbol of product quality, freshness and reliability since 1892. Del Monte Fresh Produce Company has operations in Chile, Brazil, France, Philippines, and Korea. XEROX CORP: Declares US$0.0425 Per Share Quarterly Dividend ----------------------------------------------------------- Xerox Corporation's board of directors declared a quarterly cash dividend on Xerox common stock. The dividend of US$0.0425 per common share is the first in more than six years. "With our return to investment grade, strong cash generation and effective business model, we've significantly strengthened our financial position, providing flexibility for investing in our business and delivering shareholder returns," said Anne M. Mulcahy, Xerox chairman and chief executive officer. "Declaring a dividend and our continued share repurchase initiatives reflect the health of our business and our belief in the long- term value we're creating for Xerox shareholders." The dividend will be payable on Jan. 31, 2008, to shareholders of record on Dec. 31, 2007. Headquartered in Stamford, Connecticut, Xerox Corp. -- http://www.xerox.com/-- develops, manufactures, markets, services and finances a range of document equipment, software, solutions and services. Xerox operates in over 160 countries worldwide and distributes products in the Western Hemisphere through divisions, wholly owned subsidiaries and third-party distributors. The company maintains operations in France, Japan, Italy, Nicaragua, among others. * * * As reported in the Troubled Company Reporter-Europe on Nov. 21, 2007, Moody's Investors Service raised the ratings of Xerox Corporation and supported subsidiaries, upgrading Xerox's senior unsecured rating to Baa2 from Baa3. The upgrade reflects the company's solid competitive position in the mature and competitive office equipment sector, its good business execution, continued progress in building its installed base of equipment that drives its post sales annuity revenue, stable profitability, and solid free cash flow generation. The accelerated reduction of secured debt also supports the upgrade, as does Xerox's disciplined financial philosophy with respect to maintaining strong balance sheet liquidity and modest financial leverage. Moody's said the outlook is positive. Ratings raised include: Xerox Corporation: * Senior unsecured to Baa2 from Baa3 * Trust preferred to Baa3 from Ba1 Xerox Credit Corporation: * Senior unsecured to Baa2 from Baa3 (support agreement from Xerox Corporation) ============= G E R M A N Y ============= AMBIENTE-WOHNEN LICHT: Creditors' Meeting Slated for Dec. 3 ----------------------------------------------------------- The court-appointed insolvency manager for Ambiente-Wohnen Licht Accessoires GmbH, Ulrich Nehrig, will present his first report on the Company's insolvency proceedings at a creditors' meeting at 10:00 a.m. on Dec. 3. The meeting of creditors and other interested parties will be held at: The District Court of Freibur Hall I Holzmarkt 2 79098 Freiburg Germany The Court will also verify the claims set out in the insolvency manager's report on Jan. 9, 2008, at the same venue. Creditors have until Dec. 31 to register their claims with the court-appointed insolvency manager. The insolvency manager can be reached at: Ulrich Nehrig LG-Fach 107 Schillerstr. 2 79102 Freiburg i. Br. Germany Tel: 0761/703900 Fax: 0761/7039052 The District Court of Freiburg opened bankruptcy proceedings against Ambiente-Wohnen Licht Accessoires GmbH on Nov. 1. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Ambiente-Wohnen Licht Accessoires GmbH Zum Uebergang 1 79312 Emmendingen Germany ANLAGEN & KESSELBAU: Claims Registration Period Ends Dec. 11 ------------------------------------------------------------ Creditors of AKU Anlagen & Kesselbau Unna GmbH have until Dec. 11 to register their claims with court-appointed insolvency manager Sabine Aldermann. Creditors and other interested parties are encouraged to attend the meeting at 10:10 a.m. on Jan. 22, 2008, at which time the insolvency manager will present her first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Dortmund Hall 3.201 Second Floor Gerichtsplatz 1 44135 Dortmund Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Sabine Aldermann Landgrafenstr. 2 a 44139 Dortmund Germany The District Court of Dortmund opened bankruptcy proceedings against AKU Anlagen & Kesselbau Unna GmbH on Oct. 31. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: AKU Anlagen & Kesselbau Unna GmbH Attn: Dietlinde Buescher, Manager Otto-Hahn-Str. 36 59423 Unna Germany BARG-HAUSTECHNIK-GMBH: Claims Registration Period Ends Nov. 30 -------------------------------------------------------------- Creditors of Barg-Haustechnik-GmbH have until Nov. 30 to register their claims with court-appointed insolvency manager Matthias Bott. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on Dec. 12, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Ravensburg Room 127 Herrenstr. 42 88212 Ravensburg Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Matthias Bott Bodnegger Str. 19 88287 Grunkraut Germany The District Court of Ravensburg opened bankruptcy proceedings against Barg-Haustechnik-GmbH on Oct. 5. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Barg-Haustechnik-GmbH Attn: Simon Barg, Manager Jahnstr. 4 88255 Baienfurt Germany BENDER GMBH: Claims Registration Period Ends Jan. 11 ---------------------------------------------------- Creditors of Bender GmbH have until Jan. 11 to register their claims with court-appointed insolvency manager Jens Lieser. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on Jan. 29, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Koblenz Hall 111 Main Court Karmeliterstrasse 14 56068 Koblenz Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Jens Lieser Josef-Goerres-Platz 5 56068 Koblenz Germany Tel.: 0261/304-790 Fax: 0261/911-4729 E-mail: info@lieser-rechtsanwaelte.de Web site: http://www.lieser-rechtsanwaelte.de/ The District Court of Koblenz opened bankruptcy proceedings against Bender GmbH on Oct. 31. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Bender GmbH Attn: Peter Bender, Manager Im Klos 1 56332 Oberfell Germany CHRYSLER LLC: Financing Deal Bump Signals More Debt Market Woes --------------------------------------------------------------- The recent postponement of the sale of Chrysler LLC's US$4 billion loans, combined with Freddie Mac's credit losses, have dampened the outlook for the U.S. credit markets, MarketWatch reports. The TCR-Europe reported on Nov. 9, 2007, that JPMorgan Chase and Co., Citigroup Inc., Goldman Sachs Group Inc., Morgan Stanley and Bear Stearns & Co. had initially planned to sell Chrysler's US$4 billion loans at about 97.5 cents on the dollar to lessen the company's US$171 billion leveraged loan backlog. In spite of strong demand for the deal, however, the banks decided to shelve the sale due to weak credit markets and worsening news from the U.S. automotive sector, Reuters relates, citing an unidentified source. This is particularly deflating for the corporate credit market, MarketWatch observes. "It shows how tough the market has become," said Steve Miller, a managing director for Standard & Poor's LCD, MarketWatch notes. "We had a really strong run after Labor Day, money poured in from (the high-yield bond market) and all of this paper started to clear." "The last four weeks, the anxiety level has gone up. Some of the money has poured out of high yield and that's tricked down to the loan market and driven prices down. Chrysler is a harbinger," MarketWatch quotes Mr. Miller as saying. Concurrently, loans sold recently have fallen in value in the secondary market, and there remains close to US$300 billion in LBO debt that needs to be financed. U.S. LBO volume was up 143% through September, MarketWatch states. There is no longer any hope that investors would return to back leveraged buyouts, which could, in turn, stall other planned mergers and acquisitions. In effect, the postponement of the sale of Chrysler's loans marks the halt of other deals as well, MarketWatch suggests. About Chrysler LLC Headquartered in Auburn Hills, Michigan, Chrysler LLC -- http://www.chrysler.com/-- offers cars and minivans, pick-up trucks, sport utility vehicles, and vans under the Chrysler, Jeep, and Dodge brand names. It also sells parts and accessories under the MOPAR brand. The company has dealers worldwide, including Canada, Mexico, U.S., Germany, France, U.K., Argentina, Brazil, Venezuela, China, Japan and Australia. Chrysler LLC is facing a difficult market environment in the United States with excess inventory, non-competitive legacy costs for employees and retirees, continuing high fuel prices and a stronger shift in demand toward smaller vehicles. At the same time, key competitors have further increased margin and volume pressures -- particularly on light trucks -- by making significant price concessions. In addition, increased interest rates caused higher sales & marketing expenses. * * * The TCR-Europe reported on Aug. 8, 2007, that Moody's Investors Service has affirmed Chrysler Automotive LLC's B3 Corporate Family Rating, and the Caa1 (LGD4, 66) rating of the company's US$2 billion senior secured, second lien term loan in connection with Monday's closing of Daimler Chrysler AG's sale of a majority interest of Chrysler Group to Cerberus Capital Management LLC. CONNECT INFORMATIK: Claims Registration Period Ends Dec. 12 ----------------------------------------------------------- Creditors of CONNECT Informatik GmbH ORG/DV-Dienstleistungen have until Dec. 12 to register their claims with court-appointed insolvency manager Steffen Rauschenbusch. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on Jan. 9, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Karlsruhe Hall IV First Floor Schlossplatz 23 76131 Karlsruhe Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Steffen Rauschenbusch 0 3, 11 + 12 68161 Mannheim Germany Tel: 0621/ 16 680 The District Court of Karlsruhe opened bankruptcy proceedings against CONNECT Informatik GmbH ORG/DV-Dienstleistungen on Nov. 2. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: CONNECT Informatik GmbH ORG/DV-Dienstleistungen Attn: Rolf Dziony, Manager Waldstr. 15 A 77731 Willstatt Germany FLORITO BLUMENHANDELS: Creditors' Meeting Slated for December 4 --------------------------------------------------------------- The court-appointed insolvency manager for florito Blumenhandelsgesellschaft mbH, Bernd Statz will present his first report on the Company's insolvency proceedings at a creditors' meeting at 10:00 a.m. on Dec. 4. The meeting of creditors and other interested parties will be held at: The District Court of Fulda Hall 3100 Koenigstrasse 38 36037 Fulda Germany The Court will also verify the claims set out in the insolvency manager's report at 10:00 a.m. on Jan. 28, 2008, at the same venue. Creditors have until Jan. 11, 2008, to register their claims with the court-appointed insolvency manager. The insolvency manager can be reached at: Bernd Statz Muehlstr. 25, D 63526 Erlensee Germany Tel: 06183-900370 Fax: 06183-900371 The District Court of Fulda opened bankruptcy proceedings against florito Blumenhandelsgesellschaft mbH on Nov. 1. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: florito Blumenhandelsgesellschaft mbH Attn: Guenter Reutelsterz, Manager Langen Acker 6 36124 Eichenzell Germany GEMINI ELECTRONIC: Claims Registration Ends January 2, 2008 ----------------------------------------------------------- Creditors of Gemini Electronic Handels GmbH have until Jan. 2, 2008, to register their claims with court-appointed insolvency manager Ulrich Bastian. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on Feb. 1, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Munich Meeting Hall 102 Infanteriestr. 5 80097 Munich Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Ulrich Bastian Sendlinger Str. 46 80331 Munich Germany The District Court of Munich opened bankruptcy proceedings against Gemini Electronic Handels GmbH on Oct. 31. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Gemini Electronic Handels GmbH Stahlgruberring 11 a 81829 Munich Germany GOEGASTRO GMBH: Claims Registration Period Ends Dec. 13 ------------------------------------------------------- Creditors of GoeGastro GmbH have until Dec. 13 to register their claims with court-appointed insolvency manager Peter Staufenbiel. Creditors and other interested parties are encouraged to attend the meeting at 8:30 a.m. on Jan. 10, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Goettingen Hall B8 Berliner Strasse 8 37073 Goettingen Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Peter Staufenbiel Dransfelder Strasse 19 A 37079 Goettingen Germany Tel: 0551/9000950 Fax: 0551/9000955 E-mail: staufenbiel@hauter.com The District Court of Goettingen opened bankruptcy proceedings against GoeGastro GmbH on Oct. 23. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: GoeGastro GmbH Attn: Jens Hochhaus, Manager Ludwig-Prandtl-Strasse 28 37077 Goettingen Germany KLK STAHLTECHNIK: Claims Registration Period Ends Dec. 14 --------------------------------------------------------- Creditors of KLK Stahltechnik GmbH have until Dec. 14 to register their claims with court-appointed insolvency manager Joerg Bornheimer. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on Jan. 17, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Wuppertal Meeting Hall A234 Second Floor Eiland 2 42103 Wuppertal Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Joerg Bornheimer Turmhof 15 42103 Wuppertal Germany Tel: 0202/49 37 00 Fax: 0202/4937099 The District Court of Wuppertal opened bankruptcy proceedings against KLK Stahltechnik GmbH on Nov. 5. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: KLK Stahltechnik GmbH Brahm 99 42281 Wuppertal Germany Attn: Martin Kaiser, Manager Landringhauser Weg 15 45549 Sprockhoevel Germany MACKOWIAK TRANSPORT: Claims Registration Ends January 4, 2008 ------------------------------------------------------------- Creditors of Mackowiak Transportdienstleistungen GmbH have until Jan. 4, 2008, to register their claims with court-appointed insolvency manager Knut Thomas Hofheinz. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on Jan. 25, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Gifhorn Hall 118 Schlossgarten 4 38518 Gifhorn Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Knut Thomas Hofheinz Markte 13 30159 Hannover Germany Tel: 0511/357721-0 Fax: 0511/357721-40 The District Court of Gifhorn opened bankruptcy proceedings against Mackowiak Transportdienstleistungen GmbH on Nov. 1. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Mackowiak Transportdienstleistungen GmbH Steindamm 11 31311 Uetze Germany Attn: Marc Weingart, Manager Spannhagengarten 10 30655 Hannover Germany NORDBAU TIEF: Claims Registration Period Ends Dec. 31 ----------------------------------------------------- Creditors of Nordbau Tief- und Strassenbaugesellschaft mbH & Co. KG have until Dec. 31 to register their claims with court- appointed insolvency manager Axel Raap. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on Feb. 20, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Rostock Hall 300 Zochstrasse 18057 Rostock Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Axel Raap Strandstrasse 92 18055 Rostock Germany The District Court of Rostock opened bankruptcy proceedings against NORDBAU Tief- und Strassenbaugesellschaft mbH & Co. KG on Nov. 1. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: NORDBAU Tief- und Strassenbaugesellschaft mbH & Co. KG Vierburgweg 35 18246 Buetzow Germany ROAD MASTERS: Claims Registration Ends December 18 -------------------------------------------------- Creditors of Road Masters Fahrzeug Logistic GmbH have until Dec. 18 to register their claims with court-appointed insolvency manager Stefan von der Ahe. Creditors and other interested parties are encouraged to attend the meeting at 10:40 a.m. on Jan. 18, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Leer Hall 101 Woerde 5 26789 Leer Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Stefan von der Ahe Dr.-Warsing-Str. 205 26802 Moormerland Germany Tel: 04954/9570-0 Fax: 04954/9570-60 The District Court of Leer opened bankruptcy proceedings against Road Masters Fahrzeug Logistic GmbH on Oct. 29. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Road Masters Fahrzeug Logistic GmbH Zinnstrasse 16 26789 Leer Germany SCHLOSSER GMBH: Creditors' Meeting Slated for December 10 --------------------------------------------------------- Dr. jur. A. Koehler, the court-appointed insolvency manager for Schlosser GmbH, will present his first report on the Company's insolvency proceedings at a creditors' meeting at 9:27 a.m. on Dec. 10. The meeting of creditors and other interested parties will be held at: The District Court of Montabaur Hall 106 First Floor Bahnhofstrasse 47 56410 Montabaur Germany The Court will also verify the claims set out in the insolvency manager's report at 8:52 a.m. on Feb. 18, 2008, at the same venue. Creditors have until Jan. 4, 2008, to register their claims with the court-appointed insolvency manager. The insolvency manager can be reached at: Dr. jur. A. Koehler Wilhelmstrasse 42 65582 Diez Germany Tel: 06432-64580 Fax: 06432-645820 E-mail: verwaltung@koehler-insolvenz.de The District Court of Montabaur opened bankruptcy proceedings against Schlosser GmbH on Nov. 1. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Schlosser GmbH Attn: Joerg Schlosser, Manager Buchenweg 1 56424 Mogendorf Germany TEKNO KALTETECHNIK: Claims Registration Period Ends Dec. 31 ----------------------------------------------------------- Creditors of Tekno Kaltetechnik GmbH have until Dec. 31 to register their claims with court-appointed insolvency manager Dr. Georg Bernsau. Creditors and other interested parties are encouraged to attend the meeting at 9:25 a.m. on Jan. 21, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Offenbach am Main Hall 162N First Floor Kaiserstrasse 63065 Offenbach am Main Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Georg Bernsau Zeilweg 42 D 60439 Frankfurt am Main Germany Tel: 069/963761-130 Fax: 069/963761-145 The District Court of Offenbach am Main opened bankruptcy proceedings against Tekno Kaltetechnik GmbH on Nov. 1. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Tekno Kaltetechnik GmbH Unterer Steinberg 6 63225 Langen Germany TREND & DESIGN: Claims Registration Period Ends Dec. 27 ------------------------------------------------------- Creditors of Trend & Design Vertriebs-GmbH have until Dec. 27 to register their claims with court-appointed insolvency manager Peter Knoepfel. Creditors and other interested parties are encouraged to attend the meeting on Jan. 24, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Hannover Hall 226 Second Upper Floor Service Bldg. Hamburger Allee 26 30161 Hannover Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Peter Knoepfel Koenigstrasse 4 30175 Hannover Germany Tel: 0511 336138-0 Fax: 0511 336138-66 The District Court of Hannover opened bankruptcy proceedings against Trend & Design Vertriebs-GmbH on Oct. 31. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Trend & Design Vertriebs-GmbH An der Weide 7 30900 Wedemark Germany VV CONSULTING: Claims Registration Period Ends Dec. 10 ------------------------------------------------------ Creditors of VV Consulting GmbH have until Dec. 10 to register their claims with court-appointed insolvency manager Manfred Kuhne. Creditors and other interested parties are encouraged to attend the meeting at 1:40 p.m. on Jan. 16, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Siegen Hall 009 Ground Floor Main Building Berliner Str. 21-22 57072 Siegen Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Manfred Kuhne Schwanallee 18-20 35037 Marburg Germany Tel: 06421/407960 Fax: 06421/15858 The District Court of Siegen opened bankruptcy proceedings against VV Consulting GmbH on Nov. 1. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: VV Consulting GmbH Attn: Anthony van Vegten, Sr., Manager Oberer Kirchweg 7 57271 Hilchenbach Germany WAGNER RESEARCH: Claims Registration Ends December 17 ----------------------------------------------------- Creditors of Wagner Research Concepts GmbH have until Dec. 17 to register their claims with court-appointed insolvency manager Dr. Olaf Buechler. Creditors and other interested parties are encouraged to attend the meeting at 11:10 a.m. on Jan. 17, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Hamburg Hall B 405 Fourth Floor Annex Civil Justice Bldg. Sievkingplatz 1 20355 Hamburg Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Olaf Buechler Herrengraben 3 20459 Hamburg Germany The District Court of Hamburg opened bankruptcy proceedings against Wagner Research Concepts GmbH on Nov. 1. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Wagner Research Concepts GmbH Esplanade 6 20354 Hamburg Germany Attn: Uwe Wagner, Manager Papenhuder Strasse 34 22087 Hamburg Germany WAGNER WERTPAPIERABRECHNUNGS: Claims Registration Ends Dec. 17 -------------------------------------------------------------- Creditors of Wagner Wertpapierabrechnungs GmbH have until Dec. 17 to register their claims with court-appointed insolvency manager Michael W. Kuleisa. Creditors and other interested parties are encouraged to attend the meeting at 11:30 a.m. on Jan. 17, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Hamburg Hall B 405 Fourth Floor Annex Civil Justice Bldg. Sievkingplatz 1 20355 Hamburg Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Michael W. Kuleisa Speersort 4 - 6 20095 Hamburg Germany The District Court of Hamburg opened bankruptcy proceedings against Wagner Wertpapierabrechnungs GmbH on Nov. 2. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Wagner Wertpapierabrechnungs GmbH Attn: Ayse Devlet Sanlier, Manager Lyser Strasse 12 22761 Hamburg Germany WEVO INGENIEUR: Claims Registration Ends December 18 ---------------------------------------------------- Creditors of WeVo Ingenieur GmbH have until Dec. 18 to register their claims with court-appointed insolvency manager Hans-Gerd Jauch. Creditors and other interested parties are encouraged to attend the meeting at 9:35 a.m. on Jan. 31, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Cologne Meeting Hall 142 First Floor Luxemburger Strasse 101 50939 Cologne Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Hans-Gerd Jauch Sachsenring 81 50677 Koeln Germany Tel: 0221/33660130 Fax: +492213366085 The District Court of Cologne opened bankruptcy proceedings against WeVo Ingenieur GmbH on Nov. 1. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: WeVo Ingenieur GmbH Attn: Peter Jockel and Frank Jockel, Managers Engelbertstr. 3-5 51429 Bergisch Gladbach Germany ============= I R E L A N D ============= ADVANCED MEDICAL: Names Richard Meier as President -------------------------------------------------- Advanced Medical Optics Inc. has appointed Richard (Randy) A. Meier as its president. He retains his existing chief operating officer title and responsibilities, which include leadership of the company's eye care and cataract/implant businesses, global customer services and manufacturing operations. James V. Mazzo who remains the company's chairman and chief executive officer previously held the title of president at AMO. "Randy has assumed increasingly broad leadership roles since our spin-off in 2002 and, over that time, has played an integral role in the growth and development of our company," said Mr. Mazzo. "I am confident in his ability to serve as president, continuing to work closely with me and the AMO leadership team to execute our strategy and deliver on our operational and financial goals." Mr. Meier joined AMO in 2002 as corporate vice president and chief financial officer. He subsequently held various positions, including executive vice president, operations and president, eye care business. In February 2007, he was named chief operating officer and chief financial officer, a position he held until October 2007, when Michael Lambert, 45, joined the company as chief financial officer. Headquartered in Santa Ana, California, Advanced Medical Optics -- http://www.amo-inc.com/-- develops, manufactures and markets ophthalmic surgical and contact lens care products. Sales for the twelve months ended June 24, 2005 were approximately US$921 million. The company has operations in Germany, Japan, Ireland, Puerto Rico and Brazil. * * * As reported in the Troubled Company Reporter-Latin America on Oct. 12, 2007, Moody's Investors Service downgraded Advanced Medical Optics, Inc.'s Corporate Family Rating and Probability of Default Rating to B2 from B1. The rating outlook was revised to stable. These rating actions conclude the review process for possible downgrade, which began on May 29, 2007. AFFILIATED COMPUTER: Inks US$18.5-Million Deal w/ Idaho Medicaid ---------------------------------------------------------------- Affiliated Computer Services, Inc. has announced a contract with the Idaho Department of Health and Welfare to provide pharmacy benefits management services for its Medicaid program. The contract has a length of up to 10 years and a total value of US$18.5 million, if a three-year option is exercised. This contract extends a relationship that originated in 2002, when Affiliated Computer first implemented SmartPA(R), an automated prior authorization solution. The company will provide several pharmacy benefits management solutions, including pharmacy claims processing, automated prior authorizations using SmartPA, help desk support, Prospective Drug Utilization Review, Retrospective Drug Utilization Review, federal and supplemental drug rebate administration using the company's Drug Rebate Analysis and Management System, and reporting using CyberFormance(TM). "We are pleased to have the opportunity to expand and continue our successful pharmacy benefits management partnership with the Department of Health and Welfare," said Government Healthcare Solutions senior vice president and managing director, Christopher T. Deelsnyder. "This partnership demonstrates that we work closely with our clients to help ensure the success of their vision for providing patients with the best care possible through innovative clinical and technology solutions." About Affiliated Computer Services Headquartered in Dallas, Affiliated Computer Services Inc. (NYSE: ACS) -- http://www.AffiliatedComputer-inc.com/-- provides business process outsourcing and information technology solutions to world-class commercial and government clients. The company has more than 58,000 employees supporting client operations in nearly 100 countries. The company has global operations in Brazil, China, Dominican Republic, India, Guatemala, Ireland, Philippines, Poland, and Singapore. * * * As reported in the Troubled Company Reporter-Latin America on Nov. 6, 2007, Standard & Poor's Ratings Services has kept its 'BB' corporate credit and senior secured ratings on Affiliated Computer Services Inc. on CreditWatch with negative implications, where they were placed on Mar. 20, 2007. WATERFORD WEDGWOOD: Cost-Cutting Measures to Affect 1,400 Jobs -------------------------------------------------------------- Waterford Wedgwood Plc confirmed on Nov. 21, 2007, that it is cutting 490 jobs at its crystal plant in Waterford, Ireland, in an attempt to cut costs as expenses rise and the U.S. dollar drops, published reports say. According to Reuters, the move is part of a wider cost-cutting program across the company's operations worldwide that will lead to 1,400 jobs being cut. In an e-mailed statement to Bloomberg News, Jim Foley, head of the Waterford Crystal unit, said that manufacturing at the company's crystal plant became "untenable" due to high costs and unfavorable currency movements. "While I regret the loss of 490 jobs, it is imperative that we continue to focus on our remaining cost-competitive capabilities to secure the future of manufacturing in Ireland," Mr. Foley told Bloomberg. "I am confident it can be re-energized to achieve sustained profitability." Waterford Wedgwood spokesman Michael Dennehy did not disclose specific details on the job cuts, although he noted that the company was still working on raising cash to fund the job- cutting program. Chairman Tony O'Reilly said last month that Waterford would sell EUR100 million of preference shares, Bloomberg relates. Waterford Wedgwood, which owns china brands such as Wedgwood, Rosenthal and Royal Doulton as well as Waterford crystal, relies on the U.S. for about 40% of group sales, Reuters relates. Headquartered in Waterford, Ireland, Waterford Wedgwood plc -- http://www.waterfordwedgwood.com/-- manufactures premium- priced goods including crystal, ceramics and cookware. The company has leading positions in its key markets in the US, Europe and Japan. Waterford posted a net loss of EUR57.1 million on EUR317.4 million of revenue for the six months ended Sept. 30, 2007, compared with a net loss of EUR21.1 million on EUR352.5 million of revenue for the same period in 2006. At Sept. 30, 2007, the Group's consolidated balance sheet showed EUR683.2 million in total assets, EUR767.7 million in total liabilities, and EUR84.5 million in stockholders' deficit. * * * As reported by the TCR-Europe on Nov. 20, 2007, Fitch Ratings has affirmed Waterford Wedgwood plc's Long-term Issuer Default Rating at 'CCC' and Short-term IDR at 'C'. The Outlook for the Long-term IDR is Negative. At the same time, the agency affirmed the senior secured debt rating at 'B-'/'RR2'. The mezzanine notes are affirmed at 'CC'/'RR6'. Waterford Wedgwood's 9-7/8% notes due 2010 carry junk ratings from Moody's Investors' Service's (Caa2), and Standard & Poor's (CCC-). ========= I T A L Y ========= ALITALIA SPA: May Pick Winning Bidder by Mid-December 2007 ---------------------------------------------------------- Alitalia S.p.A.'s Board of Directors acknowledged the progress made on the Company's project aimed at rapidly identifying industrial and financial subjects committed to carrying forward its restructuring, development and re-launching and, in such context, willing to acquire a majority shareholding in the Company, as reported by the Advisor Citi. In particular, Citi informed the Board that the discussions to enable the interested parties to present a non-binding proposal by next week are progressing. The Board will review the aforementioned offers in order to select a party for exclusive negotiations, after the financial and industrial aspects have been analyzed and evaluated by Alitalia's advisors. Within this framework and under the current circumstances, the Board meeting called to identify the interested party to begin exclusive negotiations with could be held within the first half of the coming month of December. As previously reported in the TCR-Europe, Alitalia decided to open talks, through the financial advisor Citi and industrial advisor Roland Berger, with: -- OAO Aeroflot, -- Air France-KLM, -- AP Holding S.p.A., -- Cordata Baldassarre, -- Deutsche Lufthansa AG, -- TPG Capital. OAO Aeroflot, however, has decided not to take part in the privatization of the Italian carrier. TPG Capital, meanwhile, has informed it was unable to finalize an Italian-led consortium, but will continue to follow the developments of the sale. Alitalia has concluded that Cordata Baldassarre's bid is "no longer compatible" to its planned stake sale. About Alitalia Headquartered in Rome, Italy, Alitalia S.p.A. -- http://www.alitalia.it/-- provides air travel services for passengers and air transport of cargo on national, international and inter-continental routes. The Italian government owns 49.9% of Alitalia. The company has operations in Argentina. Despite a EUR1.4 billion state-backed restructuring in 1997, Alitalia posted net losses of EUR256 million and EUR907 million in 2000 and 2001 respectively. Alitalia posted EUR93 million in net profits in 2002 after a EUR1.4 billion capital injection. The carrier booked annual net losses of EUR520 million in 2003, EUR813 million in 2004, EUR168 million in 2005, and EUR625.6 million in 2006. Italian Transport Minister Alessandro Bianchi has warned that Alitalia may file for bankruptcy if the current attempt to sell the government's 49.9% stake fails. ALITALIA SPA: Hikes Year-on-Year Traffic in October 2007 -------------------------------------------------------- Alitalia S.p.A.'s October 2007 traffic data compared to the same period in 2006 showed an increase in both passenger and cargo businesses. Passenger business showed an increase in terms of traffic (+1.0%) with a decrease of capacity offered by 1.0% compared with the same period of 2006. October 2007 Cargo statistics, compared to October 2006, showed an increase in terms of goods flown (+0.7%) with capacity offered down 5.9%. Passengers Operations Traffic, measured in Revenue Passenger Kilometers, increased by 1.0% and the capacity, measured in Available Seat Kilometers, decreased by 1.0%. Therefore load factor increased by 1.5 percentage points reaching 76.9%. Alitalia carried 2.2 million passengers, up 2.3% compared to the previous year. Detailed comparisons with October 2006: -- Domestic Passenger Network: traffic increased by 6.0% with offered capacity up 1.6%. Load factor was 66.9%; -- International Passenger Network: traffic increased by 0.9% and offered capacity decreased by 3.4%. Load factor was 72.7%; and -- Intercontinental Passenger Network: traffic decreased by 0.4% and capacity was in line with October 2006. Load factor was 84.1%. Cargo Operations October 2007 Cargo performance showed, compared to October 2006, a traffic increase by 0.7% (traffic, measured in terms of Revenue Ton Kilometers) while capacity was down 5.9%. Overall Load factor was 70.9% with an increase by 4.7 percentage points. Regarding the All-Cargo sector, Load factor was 83% with an increase by 12.9 percentage points compared with the same period of 2006. About Alitalia Headquartered in Rome, Italy, Alitalia S.p.A. -- http://www.alitalia.it/-- provides air travel services for passengers and air transport of cargo on national, international and inter-continental routes. The Italian government owns 49.9% of Alitalia. The company has operations in Argentina. Despite a EUR1.4 billion state-backed restructuring in 1997, Alitalia posted net losses of EUR256 million and EUR907 million in 2000 and 2001 respectively. Alitalia posted EUR93 million in net profits in 2002 after a EUR1.4 billion capital injection. The carrier booked annual net losses of EUR520 million in 2003, EUR813 million in 2004, EUR168 million in 2005, and EUR625.6 million in 2006. Italian Transport Minister Alessandro Bianchi has warned that Alitalia may file for bankruptcy if the current attempt to sell the government's 49.9% stake fails. FREESCALE SEMICON: Depressed Revenues Cue S&P to Cut Rating ----------------------------------------------------------- Standard & Poor's Ratings Services lowered its corporate credit rating on Freescale Semiconductor Inc. to 'B+' from 'BB-' and removed the rating from CreditWatch where it was placed with negative implications on Sept. 18, 2007. The outlook is negative. The action reflects the company's depressed revenues and cash flows, resulting in debt leverage well above earlier expectations, and limited prospects for material near-term improvement. "The ratings on Freescale reflect high debt leverage, about 7x EBITDA, which is not likely to materially improve over the intermediate term, reflecting ongoing challenging conditions in the company's key markets, and substantial revenue dependence on Motorola's cell phone business," said Standard & Poor's credit analyst Bruce Hyman. This is offset partially by the company's strong technology base and expectations that its good business position with its key customers will not significantly erode. Freescale is a major supplier to the networking, wireless, and automotive markets, where its semiconductors are key components of platforms with multiyear design lives. Debt leverage, 6.9x EBITDA for the four quarters ended September 2007, is expected to decline only modestly over the intermediate term. Based in Austin, Texas, Freescale Semiconductor, Inc. (NYSE:FSL) (NYSE:FSL.B) -- http://www.freescale.com/-- designs and manufactures embedded semiconductors for the automotive, consumer, industrial, networking and wireless markets. Freescale Semiconductor became a publicly traded company in July 2004. The company has design, research and development, manufacturing or sales operations in more than 30 countries. In Latin America, Freescale Semiconductor has operations in Argentina, Brazil and Mexico. In Europe, the company has operations in Czech Republic, France, Germany, Ireland, Italy, Romania, Turkey and the United Kingdom. Revenues for the 12 months ended March 31, 2007 were US$6.2 billion. =================== K A Z A K H S T A N =================== AK BARYS: Proof of Claim Deadline Slated for Dec. 22 ---------------------------------------------------- The Specialized Inter-Regional Economic Court of North Kazakhstan has declared JSC Ak Barys insolvent. Creditors have until Dec. 22 to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of North Kazakhstan Sutushev Str. 58 Petropavlovsk North Kazakhstan Kazakhstan Tel: 8 (3152) 46-35-83 BEREKE LLP: Creditors Must File Claims Dec. 22 ---------------------------------------------- The Specialized Inter-Regional Economic Court of South Kazakhstan has declared LLP Bereke insolvent. Creditors have until Dec. 22 to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of South Kazakhstan Tel: 8 (7253) 34-04-51 8 701 751 98-65 CONTINENT-TARAZ LLP: Claims Filing Period Ends Dec. 22 ------------------------------------------------------ LLP Computer Centre Continent-Taraz has declared insolvency. Creditors have until Dec. 22 to submit written proofs of claims to: LLP Computer Centre Continent-Taraz Abai Str. 121a Taraz Jambyl Kazakhstan ELIT INVEST-LTD: Creditors' Claims Due on Dec. 22 ------------------------------------------------- LLP Elit Invest-Ltd has declared insolvency. Creditors have until Dec. 22 to submit written proofs of claims to: LLP Elit Invest-Ltd Komarov Str. 7 Baiserke Ilyisky District Almaty Kazakhstan GRATSIYA LLP: Claims Registration Ends Dec. 22 ---------------------------------------------- The Specialized Inter-Regional Economic Court of North Kazakhstan has declared LLP Gratsiya insolvent. Creditors have until Dec. 22 to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of North Kazakhstan Sutushev Str. 58 Petropavlovsk North Kazakhstan Kazakhstan Tel: 8 (3152) 46-35-83 MILLENIUM ASSETS: Proof of Claim Deadline Slated for Dec. 22 ------------------------------------------------------------ LLP Millenium Assets has declared insolvency. Creditors have until Dec. 22 to submit written proofs of claims to: LLP Millenium Assets Second Floor Dostyk Ave. 105 Almaty 050051 Kazakhstan REA-CONSULTING LLP: Creditors Must File Claims Dec. 22 ------------------------------------------------------ LLP Rea-Consulting has declared insolvency. Creditors have until Dec. 22 to submit written proofs of claims to: LLP Rea-Consulting Micro District 5, 30-34 Almaty Kazakhstan TIMKO INSAAT-KZ: Claims Filing Period Ends Dec. 22 -------------------------------------------------- LLP Timko Insaat-KZ has declared insolvency. Creditors have until Dec. 22 to submit written proofs of claims to: LLP Timko Insaat-KZ Djangildin Str. 11/1 Saryarka District Astana Kazakhstan YNTYMAK LLP: Creditors' Claims Due on Dec. 22 --------------------------------------------- The Specialized Inter-Regional Economic Court of South Kazakhstan has declared LLP Yntymak insolvent. Creditors have until Dec. 22 to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of South Kazakhstan Tel: 8 (7253) 34-04-51 8 701 751 98-65 =================== K Y R G Y Z S T A N =================== HILLY AND JOHN: Proof of Claim Deadline Slated for December 26 -------------------------------------------------------------- LLC Hilly and John National has declared insolvency. Creditors have until Dec. 26 to submit written proofs of claim to: LLC Hilly and John National Tynystanov Str. 64/1-10 Bishkek Kyrgyzstan Tel: (+996 312) 62-79-69 =================== L U X E M B O U R G =================== EVRAZ GROUP: EC Extends Highveld Asset Sale Deadline to Jan. 20 --------------------------------------------------------------- Evraz Group S.A. disclosed that the Commission of the European Communities has extended until Jan. 20, 2008, the divestiture period during which Highveld Steel and Vanadium Corporation Limited, South Africa, is obliged to dispose of certain vanadium assets. Evraz owns 80.9% of the entire issued share capital of Highveld. About Evraz Headquartered in Luxembourg, Evraz Group S.A. (LSE:EVR) -- http://www.evraz.com/-- manufactures and distributes steel and related products. In addition, the Company owns and operates certain mining assets. Its steel production and mining facilities are mainly located in the Russian Federation. It operates three steel mills in Russia, one mill in the Sverdlovsk region and two mills in the Kemerovo region. * * * As of Nov. 20, 2007, Evraz Group carries Ba3 Corporate Family and Probability-of-Default ratings and B2 Senior Unsecured Debt rating from Moody's Investor Service. Moody's said the Outlook is Positive. Evraz also carries BB- Local and Foreign Issuer Credit ratings from Standard & Poor's. S&P said the Outlook is Positive. The company carries BB Issuer Default and Senior Unsecured ratings and B Short-Term IDR. Fitch said the Outlook is Stable. ===================== N E T H E R L A N D S ===================== BAUSCH & LOMB: Hires Robert Bailey as Corporate Vice President -------------------------------------------------------------- Bausch & Lomb has named A. Robert D. Bailey as its corporate vice president and general counsel. Mr. Bailey was most recently vice president, assistant general counsel and assistant secretary for the company. Mr. Bailey re-joined Bausch & Lomb in 1997 after serving as associate general counsel and assistant secretary at Goulds Pumps, Inc. from 1995-1997. He first joined at Bausch & Lomb as counsel from 1994 to 1995. He began his legal career as an associate with what is now the Nixon Peabody law firm in Rochester, New York. Mr. Bailey holds a J.D., cum laude, from the University of Minnesota and a B.A. degree from St. Olaf College in Northfield, Minnesota. He is admitted to practice in the State of New York. Mr. Bailey replaces Robert B. Stiles who has announced his intention to retire from Bausch & Lomb in 2008, after a career spanning more than 25 years with Bausch & Lomb, most recently as senior vice president and general counsel. About Bausch & Lomb Headquartered in Rochester, New York, Bausch & Lomb Inc. (NYSE: BOL) -- http://www.bausch.com/-- develops, manufactures, and markets eye health products, including contact lenses, contact lens care solutions, and ophthalmic surgical and pharmaceutical products. The company is organized into three geographic segments: the Americas; Europe, Middle East, and Africa; and Asia (including operations in India, Australia, China, Hong Kong, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan and Thailand). In Latin America, the company has operations in Brazil and Mexico. In Europe, the company maintains operations in Austria, Germany, the Netherlands, Spain, and the United Kingdom. * * * As reported in the Troubled Company Reporter-Latin America on Oct. 31, 2007, Moody's Investors Service has confirmed and will withdraw Bausch & Lomb Incorporated's Ba1 Corporate Family Rating, Ba1 Probability of Default Rating and Ba1 ratings on certain existing senior unsecured notes. The rating outlook was revised to stable and will be withdrawn. FIRST DATA: Inks Quickpay Agreement with Tim Hortons ---------------------------------------------------- First Data Corp. has signed an agreement with Tim Hortons(R), Canada's largest quick service restaurant chain, to provide transaction processing for its new convenience card program called Quickpay Tim Card(TM). The Quickpay Tim Card is a pre-paid, re-loadable cash card that can be used to pay for purchases both in-store and at the drive thru at participating Tim Hortons stores. Tim Hortons recently launched the Tim Card at participating locations throughout Canada. First Data will provide transaction processing and will manufacture the cards. Tim Hortons' prepaid solution will also feature connectivity via the Datawire transport network. The Datawire network, owned and operated by First Data, has become the standard in the payments industry for point-of-sale connectivity via the Internet. "We are pleased to partner with Tim Hortons as they launch Tim Card," said Peter Harrington, President, Latin America and Canada, First Data International. "We are committed to providing our clients with tailored solutions that fit their business. This gift card solution gives merchants of all sizes the ability to increase sales, strengthen customer loyalty and enhance promotional activities, while providing their customers with a convenient method of payment." "First Data provides a solid solution, has the market experience and can deliver the capabilities that Tim Hortons needs," said David Clanachan, EVP, Training, Operations Standards, R&D and Quality Assurance, Tim Hortons. "The flexibility of First Data's cash card solution will allow us to successfully launch our Tim Card program." About Datawire The Datawire Network is a distributed transaction transport network, which has emerged as the de facto standard for public Internet Point-Of-Sale (POS) connectivity for merchants. First Data acquired Datawire in February of 2007. The patented VXN technology has been architected to provide secure, reliable, consistent and rapid transaction transport. The Datawire network has been in service for over 5 years and has transported billions of transactions, servicing at present approximately 100,000 merchant locations worldwide. About Tim Hortons Inc. Tim Hortons -- http://www.timhortons.com/-- is the fourth largest publicly-traded quick service restaurant chain in North America based on market capitalization, and the largest in Canada. Tim Hortons appeals to a broad range of consumer tastes, with a menu that includes coffee and donuts, premium coffees, flavored cappuccinos, specialty teas, home-style soups, fresh sandwiches and fresh baked goods. As of Sept. 30, 2007, Tim Hortons had 3,110 system-wide restaurants, including 2,758 in Canada and 352 in the United States. About First Data First Data Corp. (NYSE: FDC) -- http://www.firstdata.com/ -- provides electronic commerce and payment solutions for businesses worldwide, including those in New Zealand, the Netherlands and Mexico. The company's portfolio of services and solutions includes merchant transaction processing services; credit, debit, private-label, gift, payroll and other prepaid card offerings; fraud protection and authentication solutions; receivables management solutions; electronic check acceptance services through TeleCheck; as well as Internet commerce and mobile payment solutions. The company's STAR Network offers PIN-secured debit acceptance at 2 million ATM and retail locations. * * * As reported in the Troubled Company Reporter-Latin America on Oct. 17, 2007, Fitch Ratings has assigned a 'B-' rating to First Data Corp.'s proposed USUS$2 billion senior unsecured notes due 2015 offering. As reported in the Troubled Company Reporter-Latin America on Sept. 19, 2007, Moody's Investors Service has assigned these ratings: -- Corporate Family Rating - B2 -- USUS$2 billion senior secured revolving credit facility (expires 2013) - Ba3, LGD2 (27%) -- USUS$13 billion senior secured Term Loan B (due 2014) - Ba3, LGD2 (27%). FLOWSERVE CORP: Selling Rail Business-Related Assets to Vossloh --------------------------------------------------------------- Flowserve Corporation has reached a tentative agreement to sell the rail business related assets of its wholly owned Australian subsidiary Thompsons Kelly & Lewis Pty Ltd., to Vossloh AG. Terms of the sale were not disclosed. The transaction is expected to be finalized by mid-December and is subject to approval by Vossloh AG's Supervisory Board. The TKL rail operations are a part of Flowserve's Australian pump business. Rail assets that are part of the sale include those at Castlemaine, Orange and Kewdale. Total revenue in 2006 related to these assets was approximately US$11 million. The affected rail assets were originally acquired when Flowserve purchased TKL in 2004. Based on Flowserve's current set of core strategies in the fluid motion and control industry, these assets were considered non-core to the business. The pump assets at TKL, however, remain a core part of Flowserve. TKL rail is a leading rail switch brand in Australia and is known for its product quality and expertise. The rail business currently is experiencing growth based on the demand for rail infrastructure in the country. "A strategic divestiture of this nature to a company whose core operations are more strongly aligned with the rail business should offer better future opportunities for the business in market share, capital investment and access to technology," said Lewis Kling, Flowserve President and CEO. The company will operate as Vossloh Cogifer Australia. About Flowserve Headquartered in Irving, Texas, Flowserve Corp. (NYSE: FLS) -- http://www.flowserve.com/-- provides fluid motion and control products and services. Operating in 56 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. Flowserve has operations in Dominican Republic, Guatemala, Guyana, Belize, Belgium, Netherlands, Indonesia, Singapore, Japan, among others. * * * As reported in the Troubled Company Reporter-Latin America on Aug. 20, 2007, Moody's Investors Service affirmed Flowserve Corporation's corporate family rating at Ba3 and probability of default at B1. Moody's also affirmed the Ba2 rating to the company's senior secured term loan and assigned a Ba2 rating to Flowserve's senior secured revolving credit facility. KONINKLIJKE AHOLD: Earns EUR2.68 Bln for First Nine Months 2007 --------------------------------------------------------------- Koninklijke Ahold N.V. released its financial results for the first nine months and third quarter ended Sept. 30, 2007. Ahold posted EUR2.68 billion in net income on EUR21.54 billion in net revenues for the first nine months of 2007, compared with EUR675 million in net income on EUR21.23 billion in net revenues for the same period in 2006. Ahold posted EUR214 million in net income on EUR6.32 billion in net revenues for the third quarter of 2007, compared with EUR210 million in net income on EUR6.25 billion in net revenues for the same period in 2006. As of Sept. 30, 2007, Ahold had EUR14.75 billion in net assets, EUR10.53 billion in total liabilities, and EUR4.22 billion in total shareholders' equity. "We continue to make good progress with our strategy. In the United States, our Value Improvement Program at Stop & Shop and Giant-Landover remains on track, with almost half the program completed," John Rishton, President and CEO, said. "The progress made so far has enabled us to accelerate the program and we now expect to complete 70% by year-end, up from the previous target of 50%. In October, we announced a major three- year remodeling program of more than half of our Giant-Landover stores and the agreement to sell the remainder of our Tops operation. "In Europe, Albert Heijn continues to show impressive performance. In the Czech Republic, we are making significant price investments as part of our repositioning strategy. In Slovakia, we have decided to continue operating as a result of improved performance and the current difficult financial markets. "For our total core retail operations, we expect the operating margin for the full-year 2007 to be at the higher end of our previous guidance of 4% to 4.5%. "Following the capital repayment in August and the EUR1 billion share buyback program completed yesterday, we have returned a total of EUR4 billion to shareholders this year. In addition, we plan to reinstate an annual dividend on Ahold's common shares. "The proposed dividend for the 2007 financial year will be announced with our full-year results on March 6, 2008." About Ahold Headquartered in Amsterdam, Koninklijke Ahold N.V. (fka Royal Ahold) -- http://www.ahold.com/-- retails food through supermarkets, hypermarkets and discount stores in North and South America, Europe. It has operations in Argentina. The company's chain stores include Stop & Shop, Giant, TOPS, Albert Heijn and Bompreco. Ahold also supplies food to restaurants, hotels, healthcare institutions, government facilities, universities, stadiums, and caterers. * * * As of Nov. 19, 2007, Koninklijke Ahold carries BB+ Issuer Default and senior unsecured ratings from Fitch Ratings. Fitch said the Outlook is Positive. Its Short-term rating is B. KRATON POLYMERS: Moody's Affirms B1 Corporate Family Rating ----------------------------------------------------------- Moody's Investors Service has affirmed Kraton Polymers LLC's B1 corporate family rating but revised the company's outlook to negative as Moody's expects continued margin weakness, due to delays in passing on the full extent of raw material cost increases to Kraton customers, which will diminish free cash flow from operations over the next 12 to 18 months. Moody's has revised the outlook to negative from stable. Kraton's margins have been adversely impacted by an upturn in raw material costs such that gross margins for the third quarter have dropped to 16% from 22% year-over-year despite a measure of success in achieving some price increases. Year to date, Kraton's cost of goods sold, as measured on a US dollar per metric ton basis, have increased 11% and only 43% of these higher costs have been passed on to customers. Margin declines have also served to offset the benefits of successful programs to cut fixed costs. New cost cutting efforts are just being completed and their benefits to cash flows have not been realized. In early 2007, Moody's indicated the ratings or outlook could be lowered if Kraton significantly under performed our forecast such that debt to EBITDA exceeded 5.5 times or retained cash flow to total debt declined below 7% over the next 18 months. Due to margin pressures, for the LTM period ending Sept. 30, 2007, adjusted debt to EBITDA was 7.3 times (adjusted for pensions and capitalized leases) and retained cash flow to total adjusted debt declined below 5% -- metrics that drive the change in the outlook to negative. Moody's will monitor Kraton's performance, cost saving initiatives, and ability to increase product prices over the next few quarters as it seeks to reverse this margin pressure, but its ratings could be downgraded in the absence of sustainable improvement. Moody's also views Kraton's liquidity profile as facing pressure due to potential breaches of financial covenants. The company made a US$40 million pre-payment on its term loan in the third quarter from available cash. The 5.45 debt to adjusted EBITDA covenant in Kraton's credit facility would have been breached in the third quarter of 2007 if the company had not made at least a US$16 million pre-payment on its term loan. The credit facilities' leverage and interest coverage covenants tighten in 2008, raising the possibility that Kraton may fail to meet covenant tests by the end of the second quarter of 2008 if margin pressure accelerates. At Sept. 30, 2007, Kraton had no borrowings under the revolving portion of its US$75.5 million credit facility and more than US$30 million in cash on the balance sheet. Based in Houston, Texas, Kraton Polymers LLC -- http://www.kraton.com/-- produces styrenic block copolymers. SBCs are highly-engineered thermoplastic elastomers, which enhance the performance of numerous products by delivering a variety of attributes, including greater flexibility, resilience, strength, durability and processability. Kraton polymers are used in a wide range of applications including adhesives, coatings, consumer and personal care products, sealants, lubricants, medical, packaging, automotive, paving, roofing, and footwear products. Kraton has the leading position in nearly all of its core markets and is the only producer of SBCs with global manufacturing capability. Its production facilities are located in the United States, Germany, France, The Netherlands, Brazil, and Japan. * * * As reported in the Troubled Company Reporter-Latin America on June 8, 2007, Standard & Poor's Ratings Services lowered its ratings on Kraton Polymers LLC, including the corporate credit and senior secured debt ratings to 'B' from 'B+'. S&P said the outlook is negative. NXP BV: S&P Cuts Long-Term Rating to B+ on High Leverage -------------------------------------------------------- Standard & Poor's Ratings Services lowered its long-term rating on Netherlands-based semiconductor manufacturer NXP B.V. to 'B+' from 'BB-'. The outlook is negative. "The downgrade is due to NXP's persistently high financial leverage in spite of signs of margin stabil