T R O U B L E D C O M P A N Y R E P O R T E R L A T I N A M E R I C A Friday, October 19, 2007, Vol. 8, Issue 208 Headlines A R G E N T I N A CORAL SEA: Trustee Filing Individual Reports in Court on Monday EASTMAN KODAK: Names Mary Jane Hellyar as Exec. Vice President EDICIONES LATINOAMERICANAS: Claims Report Filing on Feb. 27 FENITECH SRL: Proofs of Claim Verification Deadline Is Dec. 5 ALITALIA SPA: Baldassarre Group Eyes Three-Year Restructuring FORD MOTOR: Continues Low-Level Contract Talks with UAW GEMIKA SA: Trustee Filing General Report in Court on Oct. 22 ITAL GRAF: Proofs of Claim Filing Deadline Is Dec. 21 KLUJ GRISOLIA: Trustee Filing General Report in Court on Oct. 22 RED HAT: S&P Affirms B+ Corp. Credit Rating w/ Positive Outlook ROCHI FARM: Trustee Verifies Proofs of Claim Until Feb. 13 SANCHEZ CONSTRUCCIONES: Claims Verification Period Ends Nov. 15 TRANCO LARGO: Trustee Filing General Report in Court on Oct. 22 * ARGENTINA: Obtains US$230-Million Healthcare Financing B A H A M A S HARRAH'S ENTERTAINMENT: NJ Casino Agency Approves Apollo Merger METROPOLITAN BANK: Lower Tier 2 Notes Twice Oversubscribed B A R B A D O S ANDREW CORP: Debt Refinancing Prompts S&P to Affirm Ratings B E R M U D A KOCH TREASURY: Holding Final Shareholders Meeting on Nov. 19 LANNER RE: Proofs of Claim Filing Deadline Is Today LANNER RE: Sets Final Shareholders Meeting for Nov. 15 ODYSSEY TRADING: Sets Final Shareholders Meeting for Nov. 14 ROYALE RESORTS: Will Hold Final Shareholders Meeting on Nov. 14 B O L I V I A AGILENT TECHNOLOGIES: Inks Marketing Agreement with BioTrove B R A Z I L BANCO NACIONAL: Okays BRL549-Million Indirect Loan for Light BANCO NACIONAL: Funding Ethanol Program with BRL3.2-Billion Loan BRASIL TELECOM: Concludes Telecom Italia Indirect Stake Buy COMMSCOPE INC: S&P Affirms BB- Corporate Credit Rating COMPANHIA PARANAENSE: Power Sales Rise 6.0% in First Nine Months COMPANHIA SIDERURGICA: Deutsche Bank Ups Shares' Rating to Buy FIAT SPA: Finance Unit to Repay EUR123.4 Million in Bonds FIAT SPA: Inks Cooperation Deal with Russia's Avtovaz GENERAL MOTORS: To Cut 767 Jobs at Hammtramck Plant in December GERDAU AMERISTEEL: To Issue 110 Million of Common Shares KENDLE INT'L: Names Mary Briggs Vice President for Global Sales SCO GROUP: Terminates 16 Employees; Wants Names Filed Under Seal SCO GROUP: Files Schedules of Assets & Liabilities * BRAZIL: Reaches US$1-Billion Loan Deal with Angola * BRAZIL: Petrobras Says International Oil Prices To Remain High * BRAZIL: Commits to Increase Trade with India & South Africa * BRAZIL: Underwater Pumping System May Raise JUB-6 Well Output C A Y M A N I S L A N D S APCOA IIP: Proofs of Claim Filing Deadline Is Nov. 5 APCOA EQUITY: Proofs of Claim Filing Is Until Nov. 5 BABYLON ML: Creditors Must File Proofs of Claim by Nov. 5 CABLE & WIRELESS: Dismisses Speculation on Business Disposal EQUITY APC: Proofs of Claim Filing Ends on Nov. 5 INVESTCORP APCOA: Proofs of Claim Filing Deadline Is Nov. 5 INVESTCORP APCOA ISLAMIC: Proofs of Claim Filing Ends on Nov. 5 KARDIO THIRD: Proofs of Claim Filing Ends on Nov. 5 PROJECT CENTRAL: Creditors Must File Proofs of Claim by Nov. 15 SECURITY CAPITAL: Creditors Must File Proofs of Claim by Nov. 15 SHORELINE GROUP: Creditors Must File Proofs of Claim by Nov. 16 SOJA CAPITAL: Creditors Must File Proofs of Claim by Nov. 18 SOLARIS SPECTRA: Creditors Must File Proofs of Claim by Nov. 15 SOUTHWEST UNDERWRITERS: Proofs of Claim Must be Filed by Nov. 15 STAR CAPTURE: Creditors Must File Proofs of Claim by Nov. 15 STONE HARBOR: Creditors Must File Proofs of Claim by Nov. 5 TECH CHAIN: Creditors Must File Proofs of Claim by Nov. 6 TERTIA LIMITED: Creditors Must File Proofs of Claim by Nov. 15 WEST 57: Proofs of Claim Filing Deadline Is Nov. 5 WEST 57 EQUITY: Proofs of Claim Filing Is Until Nov. 5 WEST 57 INVESTMENTS: Proofs of Claim Filing Ends on Nov. 5 WEST 57 EQUITY INVESTMENTS: Claims Filing Deadline Is Nov. 5 C H I L E BELL MICROPRODUCTS: Expects US$1.015 Billion Revenue Increase BOSTON SCIENFIFIC: To Reduce Workforce Worldwide by 2,300 SHAW GROUP: Environmental Unit Bags U.S. Navy Contract C O L O M B I A GMAC LLC: Fin'l Services Unit Restructures Mortgage Operations GMAC LLC: S&P Places BB+/B-1 Credit Rating on Watch Negative SOLUTIA INC: Treatment of Claims Under Revised Plan C O S T A R I C A MITEL NETWORKS: To Use Microsoft Office Communications Server E C U A D O R HILTON HOTELS: Finishing Up Renovations in Two Ecuadorian Units PETROECUADOR: Amazon Residents Hold Strike Against Firm * ECUADOR: Nine Firms Want To Represent State Against Occidental G U A T E M A L A BRITISH AIRWAYS: CEO Says Iberia Deal is "Not Transformational" GOODYEAR TIRE: Conversion Period for Conv. Notes Ends Dec. 31 H O N D U R A S * HONDURAS: Nicaraguans Visit To Talk Bilateral Economic Issues M E X I C O ADVANCED MARKETING: Wants More Time to Decide on Remaining Lease CROWN HOLDINGS: Reports 19.6% Profit Growth for Third Quarter DOMINO'S PIZZA: Reports US$11 Million Third Quarter Net Income DURA AUTOMOTIVE: Wants John Knappenberger Separation Pact Okayed GLOBAL POWER: Wants Court to Approve Plan Support Agreement GLOBAL POWER: Exclusive Plan-Filing Period Extended to Oct. 24 HOST HOTELS: Fitch Lifts Issuer Default Rating to BB+ from BB LIBBEY INC: Paying US$0.025 Per Share Cash Dividend on Nov. 13 METROFINANCIERA SA: Issuing US$90 Million Mortgage-Backed Bonds PARKER DRILLING: Schedules Earnings Call on November 7 RYERSON INC: Shareholders Okay Merger Deal with Platinum Equity SPANSION INC: Posts Lower Operating Loss for Third Quarter TIMKEN COMPANY: Investing US$6MM in Industrial Bearing Services UNITED RENTALS: Unit Commences Cash Tender Offers for Sr. Notes N I C A R A G U A * NICARAGUA: Delegate Visits Honduras for Bilateral Talks P E R U LEVI STRAUSS: S&P Rates US$750-Million Credit Facility at BB P U E R T O R I C O ADELPHIA COMMUNICATIONS: Wants to Appeal Lucent Claim Ruling GLOBAL HOME: Files Joint Chapter 11 Plan & Disclosure Statement V E N E Z U E L A PETROLEOS DE VENEZUELA: To Sign Oil Accords with African PetroSA - - - - - ================= A R G E N T I N A ================= CORAL SEA: Trustee Filing Individual Reports in Court on Monday --------------------------------------------------------------- Ricardo Adrogue, the court-appointed trustee for Coral Sea S.A.'s bankruptcy proceeding, will present the validated claims as individual reports in the National Commercial Court of First Instance in Buenos Aires on Oct. 22, 2007. Mr. Adrogue verified creditors' proofs of claim until Sept. 10, 2007. He will submit a general report containing an audit of Coral Sea's accounting and banking records in court on Dec. 3, 2007. Mr. Adrogue is also in charge of administering Coral Sea's assets under court supervision and will take part in their disposal to the extent established by law. The trustee can be reached at: Ricardo Adrogue Bouchard 468 Buenos Aires, Argentina EASTMAN KODAK: Names Mary Jane Hellyar as Exec. Vice President -------------------------------------------------------------- Eastman Kodak Company's Board of Directors has elected Mary Jane Hellyar as Executive Vice President and Jeffrey Hayzlett, as a Vice President of the company, effective immediately. Ms. Hellyar is President of Kodak's Film Products Group. She joined the company in 1982 as a research scientist in the Kodak Research Laboratories and subsequently held a variety of positions within R&D, Film Manufacturing, chemical process development, and strategic planning functions. In 1999, Ms. Hellyar was named general manager, Consumer Film Business, and was elected a corporate vice president. In November 2004, she was named President, Display and Components Group and in January 2005 was elected a senior vice president. In September 2005, the company moved to four vertical businesses and Ms. Hellyar became President, Film & Photofinishing Systems Group, while also continuing responsibility for Kodak's Display business. In January 2007, Ms. Hellyar's business was renamed the Film Products Group, reflecting its three core businesses: Entertainment Imaging, Film Capture, and Aerial and Industrial Markets. At the same time she assumed the added responsibility of President, Entertainment Imaging. She received a BA in chemistry and mathematics from the College of St. Catherine in St. Paul, Minnesota, MS and PhD degrees in chemical engineering from Massachusetts Institute of Technology (MIT) and an MBA in the Management of Technology from the Sloan School at MIT. Jeffrey Hayzlett is Chief Business Development Officer, a position he assumed in September 2007. He is responsible for Corporate and Product Public Relations; Communications and Public Affairs; Brand Management; Corporate Sponsorships, Market Development and Corporate Relationships and Partnerships. He joined Kodak in April 2006 as Chief Marketing Officer and Vice President of the company's Graphic Communications Group (GCG). Prior to joining Kodak, he served as president and chief executive officer of the Hayzlett Companies, Inc. His primary business was Hayzlett & Associates, Inc., a business development and public relations firm specializing in the graphic arts, technology and communications industries. Previously, Mr. Hayzlett held senior management positions in strategic business development and marketing at several companies, including Cenveo, Webprint and Colorbus, Inc. Mr. Hayzlett is currently a member of the board of directors of the Business Marketing Association (BMA) and on the advisory board of the CMO Council. He is chairman of the Sales and Marketing Executives International (SMEI) Foundation for Marketing Education, and is a permanent trustee to the SMEI Academy of Achievement Hall of Fame. He is also a two-term past chairman of SMEI. Mr. Hayzlett remains a trustee of Pi Sigma Epsilon National Education Foundation and chairman of the Printing Industries Centres Insurance (UK), Ltd. About Eastman Kodak Headquartered in Rochester, New York, Eastman Kodak Co. (NYSE: EK)-- http://www.kodak.com/-- develops, manufactures, and markets digital and traditional imaging products, services, and solutions to consumers, businesses, the graphic communications market, the entertainment industry, professionals, healthcare providers, and other customers. The company has operations in Argentina, Chile, Denmark, Greece, Jordan, Yemen, Australia, China among others. As reported in the Troubled Company Reporter-Latin America on Sept. 14, 2007, Standard & Poor's Ratings Services has affirmed its 'B+' corporate credit rating on Eastman Kodak Co. and removed the ratings from CreditWatch, where they had been placed with negative implications on Aug. 2, 2006. The outlook is negative. EDICIONES LATINOAMERICANAS: Claims Report Filing on Feb. 27 ----------------------------------------------------------- Benigno Ramon Fernandez, the court-appointed trustee for Ediciones Latinoamericanas S.R.L.'s bankruptcy proceeding, will present the validated claims as individual reports the National Commercial Court of First Instance in Buenos Aires on Feb. 27, 2008. Mr. Fernandez verified creditors' proofs of claim on Dec. 12, 2007. He will submit a general report containing an audit of Ediciones Latinoamericanas' accounting and banking records will be submitted in court on April 9, 2008. Mr. Fernandez is also in charge of administering Ediciones Latinoamericanas' assets under court supervision and will take part in their disposal to the extent established by law. The debtor can be reached at: Ediciones Latinoamericanas S.R.L. San Juan 3928 Buenos Aires, Argentina The trustee can be reached at: Benigno Ramon Fernandez Vedia 1624 Buenos Aires, Argentina FENITECH SRL: Proofs of Claim Verification Deadline Is Dec. 5 ------------------------------------------------------------- Irma Susana Aguilera, the court-appointed trustee for Fenitech S.R.L.'s bankruptcy proceeding, verifies creditors' proofs of claim until Dec. 5, 2007. Ms. Aguilera will present the validated claims in court as individual reports. The National Commercial Court of First Instance in Buenos Aires will determine if the verified claims are admissible, taking into account the trustee's opinion, and the objections and challenges that will be raised by Fenitech and its creditors. Inadmissible claims may be subject for appeal in a separate proceeding known as an appeal for reversal. A general report that contains an audit of Fenitech's accounting and banking records will be submitted in court. Infobae didn't state the reports submission deadlines. Ms. Aguilera is also in charge of administering Fenitech's assets under court supervision and will take part in their disposal to the extent established by law. The trustee can be reached at: Irma Susana Aguilera Luis Saenz Pena 1690 Buenos Aires, Argentina ALITALIA SPA: Baldassarre Group Eyes Three-Year Restructuring ------------------------------------------------------------- The Antonio Baldassarre-led consortium has no plans to cut jobs in Alitalia S.p.A. should it acquire the Italian government's 49% stake in the national carrier, Agenzia Giornalistica Italia reports. The consortium, composed of Engineering S.p.A., I Viaggi del Ventaglio S.p.A., SAFNA, Aermar Srl, Mivtach shamir H Ltd. and Reficere, plans to restore Alitalia's finances within two-to- three years, AGI reports. Mr. Baldassarre said the consortium, which will have a starting capital of EUR1 billion to EUR1.5 billion, does not plan to downscale Alitalia's operations in Milan Malpensa and Rome Fiumicino airports, and instead increase routes, AGI adds. Mr. Baldassare told Thomson Financial that the consortium plans to launch long-haul routes to Africa and the Middle East as well as maintain Alitalia's existing role, he said. He expects Alitalia to allow the possible buyers to perform diligence on the company's books. As reported in the TCR-Europe on Oct. 10, 2007, 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. 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. FORD MOTOR: Continues Low-Level Contract Talks with UAW ------------------------------------------------------- Ford Motor Co. has resumed low-level talks with the United Auto Workers union, but company sources said union leaders have not yet set a date to resume formal negotiations on new national contract, Bryce G. Hoffman of The Detroit News reports. As reported in the Troubled Company Reporter on Oct. 11, 2007, General Motors Corp. confirmed that its UAW-represented employees have ratified the GM-UAW 2007 national labor agreement. On Oct. 15, 2007, the UAW Chrysler Council, which includes local union leaders from Chrysler facilities throughout the United States, voted overwhelmingly to recommend ratification of a new tentative labor agreement with Chrysler reached on Oct. 10, 2007. Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F) -- http://www.ford.com/-- manufactures or distributes automobiles in 200 markets across six continents. With about 260,000 employees and about 100 plants worldwide, the company's core and affiliated automotive brands include Ford, Jaguar, Land Rover, Lincoln, Mercury, Volvo, Aston Martin, and Mazda. The company provides financial services through Ford Motor Credit Company. The company has operations in Japan in the Asia Pacific region. In Europe, the company maintains a presence in Sweden, and the United Kingdom. The company also distributes its brands in various Latin American regions, including Argentina and Brazil. * * * As reported in the Troubled Company Reporter on July 30, 2007, Moody's Investors Service said that the performance of Ford Motor Company's global automotive operations for the second quarter of 2007 was significantly stronger than the previous year and better than street expectations. However, Moody's explained that the company continues to face significant competitive and financial challenges, and the rating agency expects that Ford's credit metrics and rate of cash consumption will likely remain consistent with no higher than a B3 corporate family rating level into 2008. According to the rating agency, Ford's corporate family rating is currently a B3 with a negative outlook. The rating is pressured by the shift in consumer preference from high margin trucks and SUVs, and by the need for a new 2007 UAW contract that provides meaningful relief from high health care costs and burdensome work rules, Moody's relates. In June 2007, S&P raised the Issue Rating on Ford's senior secured credit facilities to B+ from B. GEMIKA SA: Trustee Filing General Report in Court on Oct. 22 ------------------------------------------------------------ Carlos Alberto Yacovino, the court-appointed trustee for Gemika S.A.'s reorganization proceeding, will submit a general report containing an audit of the firm's accounting and banking records in the National Commercial Court of First Instance in Buenos Aires on Oct. 22, 2007. Mr. Yacovino verified creditors' proofs of claim on July 20, 2007. He will present the validated claims in court as individual reports on Sept. 5, 2007. The informative assembly will be held on March 26, 2008. Creditors will vote to ratify the completed settlement plan during the assembly. The debtor can be reached at: Gemika S.A. Diag. 79 Numero 811 La Plata, Buenos Aires Argentina The trustee can be reached at: Carlos Alberto Yacovino Diag. 74 Numero 1605 Esq. 11 La Plata, Buenos Aires Argentina ITAL GRAF: Proofs of Claim Filing Deadline Is Dec. 21 ----------------------------------------------------- Jose E. Obes, the court-appointed trustee for Ital Graf SRL's bankruptcy proceeding, verifies creditors' proofs of claim until Dec. 21, 2007. Mr. Obes will present the validated claims in court as individual reports. The National Commercial Court of First Instance No. 1 in Buenos Aires, with the assistance of Clerk No. 1, will determine if the verified claims are admissible, taking into account the trustee's opinion, and the objections and challenges that will be raised by Ital Graf and its creditors. Inadmissible claims may be subject for appeal in a separate proceeding known as an appeal for reversal. A general report that contains an audit of Ital Graf's accounting and banking records will be submitted in court. La Nacion didn't state the reports submission deadlines. Mr. Obes is also in charge of administering Ital Graf's assets under court supervision and will take part in their disposal to the extent established by law. The debtor can be reached at: Ital Graf SRL Avenida Garay 2354 Buenos Aires, Argentina The trustee can be reached at: Jose E. Obes Lavalle 1619 Buenos Aires, Argentina KLUJ GRISOLIA: Trustee Filing General Report in Court on Oct. 22 ---------------------------------------------------------------- Luis Emilio Felli, the court-appointed trustee for Kluj Grisolia S.A.'s bankruptcy proceeding, will submit a general report containing an audit of the firm's accounting and banking records in the National Commercial Court of First Instance in La Plata, Buenos Aires, on Oct. 22, 2007. Mr. Felli verified creditors' proofs of claim until Aug. 14, 2007. He presented the validated claims in court as individual reports on Sept. 20, 2007. Mr. Felli is also in charge of administering Kluj Grisolia's assets under court supervision and will take part in their disposal to the extent established by law. The debtor can be reached at: Kluj Grisolia S.A. Calle 511 Numero 1160, La Plata Buenos Aires, Argentina The trustee can be reached at: Luis Emilio Felli Calle 49 Numero 365, La Plata Buenos Aires, Argentina RED HAT: S&P Affirms B+ Corp. Credit Rating w/ Positive Outlook --------------------------------------------------------------- Standard & Poor's Ratings Services has revised its outlook on Red Hat Inc. to positive from stable and affirmed the ratings, including the 'B+' corporate credit rating. The outlook revision reflects Red Hat's consistent growth in revenues and operating earnings and improving financial profile. "The ratings reflect Red Hat's narrow business profile, modest scale relative to other rated software companies, rapid technology evolution, and highly competitive industry conditions," said S&P's credit analyst Molly Toll-Reed. "These are partially offset by some barriers to entry provided by the large number of independent software and hardware vendors that certify their products to work with Red Hat, and liquidity and cash flow that are strong for the rating level." Red Hat provides operating and middleware software and related services predominantly to large enterprise customers. S&P expects to see financial leverage multiples continue to improve over the intermediate term, driven by EBITDA growth. Total adjusted debt to EBITDA was 4.7 as of August 2007, compared with 6 in the prior-year period. While financial leverage is still relatively high, free cash flow as a percent of debt is strong for the rating at more than 25%, reflecting the up-front payment characteristics of Red Hat's subscription model. Headquartered in Raleigh, North Carolina Red Hat, Inc. -- http://www.redhat.com/-- is an open source and Linux provider. Red Hat provides operating system software along with middleware, applications and management solutions. Red Hat also offers support, training, and consulting services to its customers worldwide and through top-tier partnerships. The company has offices in Singapore, Germany, and Argentina, among others. ROCHI FARM: Trustee Verifies Proofs of Claim Until Feb. 13 ---------------------------------------------------------- Emilio Gallego, the court-appointed trustee for Rochi Farm SRL's reorganization proceeding, verifies creditors' proofs of claim until Feb. 13, 2008. Mr. Gallego will present the validated claims in court as individual reports. The National Commercial Court of First Instance No. 19 in Buenos Aires, with the assistance of Clerk No. 37, will determine if the verified claims are admissible, taking into account the trustee's opinion, and the objections and challenges that will be raised by Rochi Farm and its creditors. Inadmissible claims may be subject for appeal in a separate proceeding known as an appeal for reversal. A general report that contains an audit of Rochi Farm's accounting and banking records will be submitted in court. La Nacion didn't state the reports submission deadlines. The informative assembly will be held on Oct. 29, 2008. Creditors will vote to ratify the completed settlement plan during the assembly. The debtor can be reached at: Rochi Farm SRL Cabildo 3111 Buenos Aires, Argentina The trustee can be reached at: Emilio Gallego Esmeralda 1066 Buenos Aires, Argentina SANCHEZ CONSTRUCCIONES: Claims Verification Period Ends Nov. 15 --------------------------------------------------------------- Juan Jose O. Castronuovo, the court-appointed trustee for Sanchez Construcciones S.R.L.'s bankruptcy proceeding, verifies creditors' proofs of claim until Nov. 15, 2007. Mr. Castronuovo will present the validated claims in court as individual reports on Feb. 4, 2008. The National Commercial Court of First Instance in Buenos Aires will determine if the verified claims are admissible, taking into account the trustee's opinion, and the objections and challenges that will be raised by Sanchez Construcciones and its creditors. Inadmissible claims may be subject for appeal in a separate proceeding known as an appeal for reversal. A general report that contains an audit of Sanchez Construcciones' accounting and banking records will be submitted in court on March 18, 2008. Mr. Castronuovo is also in charge of administering Sanchez Construcciones' assets under court supervision and will take part in their disposal to the extent established by law. The debtor can be reached at: Sanchez Construcciones S.R.L. Uruguay 390 Buenos Aires, Argentina The trustee can be reached at: Juan Jose O. Castronuovo Cerrito 1116 Buenos Aires, Argentina TRANCO LARGO: Trustee Filing General Report in Court on Oct. 22 --------------------------------------------------------------- Monica Olga Rajo, the court-appointed trustee for Tranco Largo S.A.C.I.F.I. y A.'s bankruptcy proceeding, will submit a general report containing an audit of the firm's accounting and banking records in the National Commercial Court of First Instance in Buenos Aires on Oct. 22, 2007. Ms. Rajo verified creditors' proofs of claim until July 11, 2007. She will present the validated claims in court as individual reports on Sept. 7, 2007. Ms. Rajo is also in charge of administering Tranco Largo's assets under court supervision and will take part in their disposal to the extent established by law. The debtor can be reached at: Tranco Largo S.A.C.I.F.I. y A. Quinteros 909 Buenos Aires, Argentina The trustee can be reached at: Monica Olga Rajo Viamonte 2359 Buenos Aires, Argentina * ARGENTINA: Obtains US$230-Million Healthcare Financing -------------------------------------------------------- The Inter-American Development Bank has approved a US$230 million loan to Argentina for a program to improve implementation of its primary health care strategy. This initiative will strengthen the operation of public health service networks structured around the strategy of primary health care. It will develop a prevention and treatment model for chronic diseases based in the provincial primary healthcare systems; and it will strengthen the treatment capabilities of the primary health care services, consolidating programs for supply management and training of health care workers targeted to health promotion and disease prevention. "The program will also strengthen the stewardship role of the federal and provincial ministries of health by introducing a management-by-results monitoring and evaluation system for the networks' operation," said IDB Team Leader Hugo Florez-Timoran. "The success of these efforts depends on bringing primary care closer to the public in its role as gateway to the system." "Funds will be provided to finance technical assistance for the formulation and implementation of provincial projects that incorporate management of chronic diseases, prioritizing hypertension and type 2 diabetes, as a proxy for strengthening service networks structured around the primary health care strategy," added Mr. Florez-Timoran. "Methodological guidelines and indicators will be strictly followed. Each province is expected to define the most pertinent activities to build up their networks." Resources will also be allocated to consolidate provision of inputs and essential medicines and training for health professionals in the rational use of medicines under the Remediar program, noted for its high standards of efficiency and transparency in assuring access to drugs at the first level of care in the public healthcare system. Additionally, training to health care workers will be provided under the Community Doctors Program to reorient their skills towards primary health care. The Ministry of Health of Argentina will carry out the project. The loan is for a 25-year term, with a five and a half year grace period and an adjustable interest rate. Local counterpart funds total US$57.5 million. * * * Fitch Ratings assigned these ratings on Argentina: Rating Rating Date ------ ----------- Country Ceiling B+ Aug. 1, 2006 Local Currency Long Term Issuer B Aug. 1, 2006 Short Term IDR B Dec. 14, 2005 Long Term IDR RD Dec. 14, 2005 ============= B A H A M A S ============= HARRAH'S ENTERTAINMENT: NJ Casino Agency Approves Apollo Merger --------------------------------------------------------------- Harrah's Entertainment Inc. has received approval from the New Jersey Casino Control Commission for the proposed acquisition of Harrah's by affiliates of Apollo Management, L.P. and TPG Capital. The transaction remains subject to approval by other jurisdictions in which Harrah's subsidiaries operate and other conditions to closing set forth in the agreement and plan of merger entered into on Dec. 19, 2006. "We're pleased by the review and approval of the New Jersey Casino Control Commission for the proposed acquisition of Harrah's Entertainment," said Gary Loveman, chairman, Chief Executive Officer and president of Harrah's Entertainment, Inc. "This transaction with Apollo Management and TPG Capital allows Harrah's to continue its emphasis on growth and in providing the best guest experience throughout our network of gaming destinations. The New Jersey marketplace is dynamic and vitally important to Harrah's future success." Headquartered in Las Vegas, Nevada, Harrah's Entertainment, Inc. (NYSE: HET) -- http://www.harrahs.com/-- is a gaming corporation that owns and operates casinos, hotels, and five golf courses under several brands on four continents. The company's properties operate primarily under the Harrah's, Caesars and Horseshoe brand names; Harrah's also owns the London Clubs International family of casinos. In January, it signed a joint venture agreement with Baha Mar Resorts Ltd. to operate a resort in Bahamas. * * * As reported in the Troubled Company Reporter on Feb. 16, 2007, Fitch Ratings may downgrade Harrah's Entertainment Inc.'s Issuer Default Rating into the 'B' category from its current 'BB+' rating based on the planned capital structure for its leveraged buyout by Apollo Management and Texas Pacific Group, which was outlined in its preliminary proxy statement. METROPOLITAN BANK: Lower Tier 2 Notes Twice Oversubscribed ---------------------------------------------------------- Metropolitan Bank & Trust Co.'s PHP5-billion offering of lower Tier 2 peso-denominated notes was twice oversubscribed, ABS-CBN News reports. Metrobank has received applications valuing more than twice the amount issued, the bank's executive vice president, Fernand Antonio Tansingco, revealed. The bank can choose to increase the issuance up to PHP10 billion as approved by the Bangko Sentral ng Pilipinas, the report recounts. Metropolitan Bank and Trust Company -- http://www.metrobank.com.ph/-- is the flagship company of the Metrobank Group. Metrobank provides a host of deposit, savings, and loan products as well as electronic banking services like internet banking, mobile banking, and phone banking, as well as its huge ATM network. Metrobank is also the leading provider of trade finance in the country, and its overseas branch network has enabled it to service the fund remittances of Filipino overseas contract workers. The bank has 583 local branches and 35 international branches and offices located in Taiwan, China, Japan, Korea, Guam, United States, Hong Kong, Singapore, Bahamas, and in Europe. * * * As reported on Nov. 6, 2006, that Moody's Investors Service revised the outlook of Metropolitan Bank & Trust Co.'s foreign currency long-term deposit rating of B1 and foreign currency subordinated debt rating of Ba3 from negative to stable. The outlooks for Metropolitan Bank's foreign currency Not-Prime short-term deposit rating and bank financial strength rating of D remain stable. On Sept. 21, 2006, Fitch Ratings upgraded Metrobank's Individual rating to 'D' from 'D/E'. All the bank's other ratings were affirmed: * Long-term Issuer Default rating 'BB-' -- with a stable Outlook, * Short-term rating 'B,' * Support rating '3. On March 3, 2006, Standard and Poor's Rating Service assigned a CCC+ rating on Metrobank's US$125-million non-cumulative capital securities, whereas Moody's Investors Service Rating Agency issued a B- rating on the same capital instruments. =============== B A R B A D O S =============== ANDREW CORP: Debt Refinancing Prompts S&P to Affirm Ratings ----------------------------------------------------------- Standard & Poor's Ratings Services has affirmed its ratings on CommScope Inc. and Andrew Corp. and removed them from CreditWatch, where they were placed on June 27, 2007, with negative implications. S&P also affirmed the 'BB-' corporate credit and 'B' subordinated debt ratings for both companies. The ratings on Andrew will be withdrawn following its acquisition and debt refinancing. The outlook is stable. At the same time, S&P assigned its bank loan and recovery ratings to CommScope's US$2.5 billion first-lien credit facilities. The US$2.1 billion term loan and US$400 million revolving credit facility are rated 'BB-', with a recovery rating of '3', indicating the expectation for meaningful (50%- 70%) recovery in the event of a payment default. Proceeds from the term loan will be used to partially fund its US$2.6 billion acquisition of Andrew. "The ratings on CommScope after the acquisition reflect an increase in leverage, a short operating track record at current profitability levels, and integration challenges," said S&P's credit analyst Lucy Patricola. "These are offset partially by solid market positions with major telecommunications providers and good cash flow." CommScope's market position in coaxial cable and environmentally secure cabinets used by wireline carriers complements Andrew's key business that provides antennae used in wireless base stations. CommScope's financing of the acquisition increases leverage substantially from recent levels of about 1.5. Based on the following assumptions, pro forma debt to EBITDA is about 4.0, within expectations for the rating. Headquartered in Westchester, Illinois, Andrew Corporation (NASDAQ: ANDW) -- http://www.andrew.com/-- designs, manufactures and delivers and essential equipment and solutions for the global communications infrastructure market. The company serves operators and original equipment manufacturers from facilities in 35 countries including China, India, Italy, Czech Republic, Argentina, Bahamas, Belize, Barbados, Bermuda and Brazil. ============= B E R M U D A ============= KOCH TREASURY: Holding Final Shareholders Meeting on Nov. 19 ------------------------------------------------------------ Koch Treasury Investments, Ltd.'s final general meeting is scheduled on Nov. 19, 2007, at 11:00 a.m., at: Attride-Stirling & Woloniecki Crawford House, 50 Cedar Avenue Hamilton HM 11, Bermuda These matters will be taken up during the meeting: -- receiving an account showing the manner in which the winding-up of the company has been conducted and its property disposed of and hearing any explanation that may be given by the liquidator; -- determination by resolution the manner in which the books, accounts and documents of the company and of the liquidator shall be disposed; and -- passing of a resolution dissolving the company. LANNER RE: Proofs of Claim Filing Deadline Is Today --------------------------------------------------- Lanner Re Limited's creditors are given until Oct. 19, 2007, to prove their claims to Robin J. Mayor, the company's liquidator, or be excluded from receiving any distribution or payment. In their proofs of claim, creditors must indicate their full names, addresses, the full particulars of their debts or claims, and the names and addresses of their lawyers, if any. Lanner Re's shareholders agreed on Oct. 5, 2007, to place the company into voluntary liquidation under Bermuda's Companies Act 1981. The liquidator can be reached at: Robin J. Mayor Messrs. Conyers Dill & Pearman Clarendon House, 2 Church Street Hamilton, HM 11, Bermuda LANNER RE: Sets Final Shareholders Meeting for Nov. 15 ------------------------------------------------------ Lanner Re Limited will hold its final shareholders meeting on Nov. 15, 2007, at 9:30 a.m., at: Messrs. Conyers Dill & Pearman Clarendon House, Church Street Hamilton, Bermuda These matters will be taken up during the meeting: -- receiving an account showing the manner in which the winding-up of the company has been conducted and its property disposed of and hearing any explanation that may be given by the liquidator; -- determination by resolution the manner in which the books, accounts and documents of the company and of the liquidator shall be disposed; and -- passing of a resolution dissolving the company. ODYSSEY TRADING: Sets Final Shareholders Meeting for Nov. 14 ------------------------------------------------------------ Odyssey Trading Company Limited's final shareholders meeting is scheduled on Nov. 14, 2007, at 9:30 a.m., at: Messrs. Conyers Dill & Pearman Clarendon House, Church Street Hamilton, Bermuda These matters will be taken up during the meeting: -- receiving an account showing the manner in which the winding-up of the company has been conducted and its property disposed of and hearing any explanation that may be given by the liquidator; -- determination by resolution the manner in which the books, accounts and documents of the company and of the liquidator shall be disposed; and -- passing of a resolution dissolving the company. ROYALE RESORTS: Will Hold Final Shareholders Meeting on Nov. 14 --------------------------------------------------------------- Royale Resorts International Limited's final shareholders meeting is scheduled on Nov. 14, 2007, at 9:30 a.m., at: Messrs. Conyers Dill & Pearman Clarendon House, Church Street Hamilton, Bermuda These matters will be taken up during the meeting: -- receiving an account showing the manner in which the winding-up of the company has been conducted and its property disposed of and hearing any explanation that may be given by the liquidator; -- determination by resolution the manner in which the books, accounts and documents of the company and of the liquidator shall be disposed; and -- passing of a resolution dissolving the company. ============= B O L I V I A ============= AGILENT TECHNOLOGIES: Inks Marketing Agreement with BioTrove ------------------------------------------------------------ Agilent Technologies Inc. and BioTrove Inc. have signed an agreement to co-market the Agilent 6410 Triple Quadrupole Mass Spectrometer with BioTrove's RapidFire high-throughput sample preparation systems. The two systems together provide an integrated solution for ultra-high-throughput preparation and analysis of in vitro biological assays in pharmaceutical drug research. "This relationship enables clients to integrate the fastest sample-preparation system on the market with the strength of leading-edge analytical mass spectrometry," said Guenter Nill, Agilent general manager, pharmaceutical and biotech market. "It significantly benefits pharmaceutical companies that want to spend less time and money discovering new leads and developing more effective medicines." Using innovative microfluidic technology for sample preparation and analysis faster than eight seconds per sample, RapidFire Mass Spectrometry eliminates bottlenecks created by traditional mass spectrometry throughput. It has been used by 10 of the top 15 pharmaceutical companies as an established drug-discovery tool for more than four years. RF-MS is routinely used in applications including the high-throughput screening of previously intractable drug targets, cytochrome P450 inhibition and other pre-clinical ADME assays, as well as in directed evolution studies. The Agilent 6410 Triple Quadrupole LC/MS establishes a new standard for value in a triple quadrupole mass spectrometer, delivering outstanding sensitivity and great ease of use along with traditional Agilent reliability. Femtogram-level sensitivity and rugged, reliable performance make this the instrument of choice for drug discovery and development. "The Agilent-BioTrove collaboration provides an improved, integrated high-throughput screening solution, enabling biopharmaceutical companies to better use their talent, time and targets," said Al Luderer, Ph.D., president and CEO, BioTrove. "BioTrove's expertise in sample preparation for high-throughput screening and early ADME is a natural complement to Agilent's strength in analytical mass spectrometry. Together, we are enabling walk-away analysis of lead compounds against valuable targets that would be otherwise impossible to screen, helping biopharma clients meet the challenge of accelerating drug discovery research." The combined solutions can be seen at the following events: -- Chemical and Pharmaceutical Structure Analysis Conference in Langhorne, Pa., on Oct. 22-25; and -- American Association of Pharmaceutical Scientists Conference in San Diego on Nov. 11-15. About BioTrove Inc. BioTrove Inc. -- http://www.biotrove.com/-- offers two innovative technology platforms: RapidFire(TM), which enables the acceleration of drug discovery and pipeline decisions, and OpenArray(TM), which advances genomic research in a wide range of life science fields, including agriculture, disease research, bio-defense, and public health. With more than half of the world's ten largest pharmaceutical companies as clients, and partnerships with prestigious research and public health centers around the world, BioTrove's products and services ensure that an industry committed to accuracy and speed can meet business goals. RapidFire(TM) Mass Spectrometry (RFMS) uses an innovative microfluidic technology to facilitate analysis at faster than 10 seconds per sample, eliminating the bottleneck created by traditional mass spectrometry throughput. RFMS is routinely used in many applications including the high-throughput screening of previously intractable drug targets, cytochrome P450 inhibition and other ADME assays and directed evolution studies. The OpenArray(TM) Platform enables genomics researchers to generate SNP and real time qPCR data in the hundreds of thousands of data points per day, significantly increasing the number of samples analyzed while significantly decreasing the time and cost required. The flexible format and nanoliter scale of the OpenArray(TM) system allows for easy adjustment of sample and assay numbers, achieving economical, high-throughput genomics. About Agilent Technologies Agilent Technologies Inc. (NYSE: A) -- http://www.agilent.com/ -- is the world's premier measurement company and a technology leader in communications, electronics, life sciences and chemical analysis. The company's 19,000 employees serve customers in more than 110 countries. The company has operations in India, Argentina, Puerto Rico, Bolivia, Paraguay, Venezuela, and Luxembourg, among others. * * * Agilent Technologies Inc. carries Moody's Investors Service 'Ba1' corporate family rating. =========== B R A Z I L =========== BANCO NACIONAL: Okays BRL549-Million Indirect Loan for Light ------------------------------------------------------------ Banco Nacional de Desenvolvimento Economico e Social said in a statement that it has authorized a BRL549-million indirect loan for power group Light SA, fka Light - Servicos de Electricidade SA. Business News Americas relates that Light will use the loan for its investment plan next year, which includes the expansion and upgrade of generation and distribution systems in Rio de Janeiro. Banco Nacional told BNamericas that a consortium of banks headed by Brazil's Unibanco will borrow the money from Banco Nacional and disburse it to Light. According to BNamericas, the BRL549-million loan accounts for 49% of Light's 2008 investment plan. Banco Nacional explained to BNamericas that investments will cover: -- efforts to prevent energy theft, -- measures to prevent losses, and -- construction of 37-kilometer in transmission lines. Banco Nacional de Desenvolvimento Economico e Social is Brazil's national development bank. It provides financing for projects within Brazil and plays a major role in the privatization programs undertaken by the federal government. * * * Banco Nacional currently carries a Ba2 foreign long-term bank deposit rating from Moody's, and a BB+ long-term foreign issuer credit rating from Standards and Poor's. The ratings were assigned in August and May 2007, respectively. BANCO NACIONAL: Funding Ethanol Program with BRL3.2-Billion Loan ---------------------------------------------------------------- Banco Nacional de Desenvolvimento Economico e Social's vice president Armando Mariante told Brazilian news service Agencia Brasil that the bank's loan to the ethanol sector will increase 58% to BRL3.2 billion this year, compared to last year. Banco Nacional finances engineering and construction of ethanol plants, Business News Americas relates. BNamericas notes that Banco Nacional will provide financing for ethanol projects that need total investments of BRL11.3 billion. Banco Nacional hasn't set any limit on amount it is willing to loan the sector. Mr. Mariante commented to BNamericas, "If there is demand, there will be enough money." Banco Nacional's infrastructure manager Ricardo Cunha da Costa told BNamericas that the bank's loans for the biodiesel sector will total BRL466 million in 2007. Banco Nacional has 10 biodiesel projects in its portfolio that need BRL602 million in total investment. Most of the biodiesel plants funded by Banco Nacional will be operational in 2008, BNamericas states, citing Mr. Cunha da Costa. Banco Nacional de Desenvolvimento Economico e Social is Brazil's national development bank. It provides financing for projects within Brazil and plays a major role in the privatization programs undertaken by the federal government. * * * Banco Nacional currently carries a Ba2 foreign long-term bank deposit rating from Moody's, and a BB+ long-term foreign issuer credit rating from Standards and Poor's. The ratings were assigned in August and May 2007, respectively. BRASIL TELECOM: Concludes Telecom Italia Indirect Stake Buy ----------------------------------------------------------- Brasil Telecom said in a statement that its key shareholders have completed the US$515-million purchase of an indirect stake in the group from Telecom Italia. Business News Americas relates that Brasil Telecom's key shareholders include: -- US financial giant Citigroup, -- Brazilian banking group Opportunity, and -- Brazil's three largest pension funds: * Previ, * Petros, and * Funcef. According to BNamericas, the shareholders agreed to acquire Telecom Italia's 38% stake in Brasil Telecom's parent firm Solpart on July 19, 2007. Techold Participacoes, one of Brasil Telecom's holding firms, now has a 57% stake in Solpart, which in turn has a 53.6% stake in Brasil Telecom. Citigroup has a 55.5% stake in Techold, BNamericas states. About Citigroup Citigroup Inc. is a diversified global financial services holding company whose businesses provide a range of financial services to consumer and corporate customers. The company is a bank holding company. Its segments include Global Consumer Group, Corporate and Investment Banking, Global Wealth Management and Alternative Investments. Citigroup has more than 200 million customer accounts and does business in more than 100 countries. About Brasil Telecom Headquartered in Brasilia, Brazil, Brasil Telecom Participacoes SA -- http://www.brasiltelecom.com.br-- is a holding company that conducts substantially all of its operations through its wholly owned subsidiary, Brasil Telecom SA. The fixed-line telecommunications services offered to the company's customers include local services, including all calls that originate and terminate within a single local area in the region, as well as installation, monthly subscription, measured services, public telephones and supplemental local services; intra-regional long-distance services, which include intrastate and interstate calls; interregional and international long-distance services; network services, including interconnection and leasing; data transmission services; wireless services, and other services. * * * To date, Brasil Telecom carries Moody's Investors Service's Ba1 senior unsecured and credit default swap ratings. COMMSCOPE INC: S&P Affirms BB- Corporate Credit Rating ------------------------------------------------------ Standard & Poor's Ratings Services has affirmed its ratings on CommScope Inc. and Andrew Corp. and removed them from CreditWatch, where they were placed on June 27, 2007, with negative implications. S&P also affirmed the 'BB-' corporate credit and 'B' subordinated debt ratings for both companies. The ratings on Andrew will be withdrawn following its acquisition and debt refinancing. The outlook is stable. At the same time, S&P assigned its bank loan and recovery ratings to CommScope's US$2.5 billion first-lien credit facilities. The US$2.1 billion term loan and US$400 million revolving credit facility are rated 'BB-', with a recovery rating of '3', indicating the expectation for meaningful (50%- 70%) recovery in the event of a payment default. Proceeds from the term loan will be used to partially fund its US$2.6 billion acquisition of Andrew. "The ratings on CommScope after the acquisition reflect an increase in leverage, a short operating track record at current profitability levels, and integration challenges," said S&P's credit analyst Lucy Patricola. "These are offset partially by solid market positions with major telecommunications providers and good cash flow." CommScope's market position in coaxial cable and environmentally secure cabinets used by wireline carriers complements Andrew's key business that provides antennae used in wireless base stations. CommScope's financing of the acquisition increases leverage substantially from recent levels of about 1.5. Based on the following assumptions, pro forma debt to EBITDA is about 4.0, within expectations for the rating. Based in Hickory, North Carolina, CommScope, Inc. (NYSE:CTV) -- http://www.commscope.com/-- designs and manufactures "last mile" cable and connectivity solutions for communication networks. Through its SYSTIMAX(R) Solutions(TM) and Uniprise(R) Solutions brands CommScope is the global leader in structured cabling systems for business enterprise applications. It is also the world's largest manufacturer of coaxial cable for Hybrid Fiber Coaxial applications. Backed by strong research and development, CommScope combines technical expertise and proprietary technology with global manufacturing capability to provide customers with high-performance wired or wireless cabling solutions. CommScope has facilities in Brazil, Australia, China and Ireland. COMPANHIA PARANAENSE: Power Sales Rise 6.0% in First Nine Months ---------------------------------------------------------------- Companhia Paranaense de Energia said in a statement that its power sales have increased 6.0% to 15.1 terra watt-hours in the first nine months of 2007, compared to the same period last year. Business News Americas relates that power sales to industrial customers rose 3.5% to 4.66 terra watt-hours. Companhia Paranaense told BNamericas that its sales to commercial and residential clients increased 9.3% to 2.76 terra watt-hours and 6.8% to 3.82 terra watt-hours respectively. Sales in rural areas grew 5.1% to 1.13 terra watt-hours. BNamericas notes that sales to residential customers increased due to: -- warmer temperatures, -- increased purchasing power in Parana, and -- a recovery in the industrial market due to agricultural production. Sales to residential, industrial, commercial and rural customers were 25.8%, 38.6%, 18.7% and 7.6% of total sales respectively, BNamericas states. Headquartered in Parana, Brazil, COPEL aka Companhia Paranaense de Energia SA -- http://www.copel.com/-- transmits and distributes electricity to more than 3 million customers in the state of Parana and has a generating capacity of nearly 4,600 MW, primarily from hydroelectric plants. COPEL also offers telecommunications, natural gas, engineering, and water and sanitation services. The company restructured its utility operations in 2001 into separate generation, transmission, and distribution subsidiaries to prepare for full privatization, which has been indefinitely postponed. In response, COPEL is re-evaluating its corporate structure. The government of Parana controls about 59% of COPEL. * * * As reported in the Troubled Company Reporter-Latin America on Dec. 13, 2006, Moody's America Latina upgraded the corporate family rating of Companhia Paranaense de Energia aka Copel to Ba2 from Ba3 on its global scale and to Aa2.br from A3.br on its Brazilian national scale. The rating outlook was stable. This rating action concludes the review process initiated on July 26, 2006. Moody's upgraded these ratings: -- Corporate Family Rating: to Ba2 from Ba3 (Global Local Currency) and to Aa2.br from A3.br (Brazilian National Scale); -- BRL500 million Senior Unsecured Guaranteed Debentures due 2007: to Ba2 from Ba3 (Global Local Currency) and to Aa2.br from A3.br (Brazilian National Scale); and -- BRL400 million Senior Secured Guaranteed Debentures due 2009: to Ba1 from Ba2 (Global Local Currency) and to Aa1.br from A1.br (Brazilian National Scale). COMPANHIA SIDERURGICA: Deutsche Bank Ups Shares' Rating to Buy -------------------------------------------------------------- Deutsche Bank has raised its rating for Companhia Siderurgica Nacional's shares to "buy" from "hold," Business News Americas reports. As reported in the Troubled Company Reporter-Latin America on July 26, 2007, Deutsche Bank reaffirmed its hold rating on Companhia Siderurgica's shares. BNamericas relates that Deutsche Bank also assigned a US$90 target price for Companhia Siderurgica's shares. Deutsche Bank said in a report that Companhia Siderurgica is its top pick steel stock in the Americas, as it is the biggest beneficiary of increasing iron ore and steel prices. Deutsche Bank told BNamericas that Companhia Siderurgica should also benefit from expansions underway at its Casa de Pedra iron ore mine in Minas Gerais. "CSN's [Companhia Siderurgica] attractiveness is centered on its market position, value-added product mix and raw material integration. Deutsche Bank is now forecasting increases of 25% for benchmark iron ore and coal costs in 2008 and further increases [of 10%] for iron ore in 2009," Deutsche Bank said in its report. About Deutsche Bank Deutsche Bank AG offers investment, financial and related products and services to private individuals, corporate entities and institutional clients around the world. It has three divisions. Corporate and Investment Bank comprises Corporate Banking and Securities and Global Transaction Banking that serves large and medium-sized corporations, financial institutions, public sector and multinational organizations. Private Clients and Asset Management comprises Asset and Wealth Management and Private and Business Clients and serves retail and small corporate, as well as affluent and wealthy clients and provides asset management services to retail and institutional clients. Corporate Investments manages the majority of Deutsche Bank's alternative assets portfolio and other debt and equity positions. About Companhia Siderurgica Companhia Siderurgica Nacional is one of the lowest-cost steel producers in the world, which is a result of its access to proprietary, high-quality iron ore (at the Casa de Pedra mine); self-sufficiency in energy; streamlined facilities; and logistics advantages. This is in addition to the group's strong market position in the fairly concentrated steel industry in Brazil. * * * On Jan. 26, 2006, Standard and Poor's Rating Services assigned a 'BB' corporate credit rating on Brazilian flat carbon steelmaker Companhia Siderurgica Nacional. The 'BB' corporate credit rating on CSN reflects the company's exposure to volatile demand and price cycles, increasing competition in its home and predominant market of Brazil, aggressive dividend policy and capital investment plan, and sizable gross-debt position. These risks are partly offset by CSN's privileged cost position and sound operating profile, favorable market position in Brazil, strong export capabilities to offset occasional domestic demand sluggishness, and increasing business diversification. FIAT SPA: Finance Unit to Repay EUR123.4 Million in Bonds --------------------------------------------------------- Fiat S.p.A.'s Fiat Finance & Trade Ltd. S.A., a company organized under the laws of Luxembourg, will repay EUR123,400,000 equal to the first amortization installment of the outstanding "Fiat Step Up Amortizing 2001 - 2011" bonds of EUR617,000,000 on Nov. 7, 2007. The repayment is in compliance with the provisions of the instructions to the rules of the markets organized and managed by Borsa Italiana S.p.A. In accordance with the conditions of the bond, the repayment will reduce by one-fifth the face value of each outstanding bond. As a result, the face value will then amount to EUR800 each for a total residual amount of EUR493,600,000. Consequently, the smallest denomination of each bond will thus be reduced from EUR1,000 to EUR800. About Fiat SpA Headquartered in Turin, Italy, Fiat S.p.A. -- http://www.fiatgroup.com/-- manufactures and sells automobiles, commercial vehicles, and agricultural and construction equipment. Fiat's creditors include Banca Intesa, Banca Monte dei Paschi di Siena, Banca Nazionale del Lavoro, Capitalia, Sanpaolo IMI, and UniCredito Italiano. Fiat operates in Argentina, Australia, Austria, Belgium, Brazil, Bulgaria, China, Czech Republic, Denmark, France, Germany, Greece, Hungary, India, Ireland, Italy, Japan, Lituania, Netherlands, Poland, Portugal, Romania, Russia, Singapore, Spain, among others. * * * As reported on Aug. 24, 2007, Moody's Investors Service upgraded to Ba1 from Ba2 Fiat SpA's Corporate Family Rating, and the group's other long-term senior unsecured ratings. At the same time, the positive outlook on all long-term ratings was maintained. The short term Not Prime rating remains unchanged. FIAT SPA: Inks Cooperation Deal with Russia's Avtovaz ----------------------------------------------------- Fiat S.p.A. and JSC Avtovaz signed a memorandum of understanding as the basis for the establishment of cooperation initiatives aimed at supporting the expansion of Avtovaz, in the area of passenger cars encompassing engineering and technological processes, development, manufacturing, product sourcing, engines and other components. Fiat's involvement in the development of the Fiat brand in Russia based on prior agreements with other parties continues to be strong and is not affected by this MoU. Following the MoU, joint teams would be set up by the two groups to determine the feasibility and specificity of the nature of cooperation, both in the short and long term. The two companies expect to sign definitive agreements in the course of the coming months. "A cooperation with AUTOVAZ represents a significant step forward in our industrial strategy of targeted alliances. It is our view that Autovaz will re-emerge as a strong automotive player in a market that is showing significant growth potential. And we are delighted to be able to assist and participate in this process," Sergio Marchionne, Fiat Group's CEO, disclosed. "The memorandum signed is the most important stage in the Russian-European cooperation in the sphere of automobile production. Now we are entering a brand new level of relations with the Fiat Corporation, which played the most decisive role in the construction of VAZ in the 60s of the last century. Fiat helped to design the most popular car in Russia which won the hearts and souls of our automobilists," Sergey Chemezov chairman of AvtoVAZ board of directors. "We hope that we shall obtain success once again, revive the authority and glory of AUTOVAZ," Mr. Chemezov added. About Fiat SpA Headquartered in Turin, Italy, Fiat S.p.A. -- http://www.fiatgroup.com/-- manufactures and sells automobiles, commercial vehicles, and agricultural and construction equipment. Fiat's creditors include Banca Intesa, Banca Monte dei Paschi di Siena, Banca Nazionale del Lavoro, Capitalia, Sanpaolo IMI, and UniCredito Italiano. Fiat operates in Argentina, Australia, Austria, Belgium, Brazil, Bulgaria, China, Czech Republic, Denmark, France, Germany, Greece, Hungary, India, Ireland, Italy, Japan, Lituania, Netherlands, Poland, Portugal, Romania, Russia, Singapore, Spain, among others. * * * As reported on Aug. 24, 2007, Moody's Investors Service upgraded to Ba1 from Ba2 Fiat SpA's Corporate Family Rating, and the group's other long-term senior unsecured ratings. At the same time, the positive outlook on all long-term ratings was maintained. The short term Not Prime rating remains unchanged. GENERAL MOTORS: To Cut 767 Jobs at Hammtramck Plant in December --------------------------------------------------------------- General Motors Corp. will initiate at the end of the year a lay off program at the Hamtramck assembly plant in Detroit, Michigan, affecting 767 workers, according to various reports. Due to the decline in sales, the assembly plant, which employs 1,847 hourly workers and manufactures Buick Lucerne and Cadillac DTS sedans, will be fusing two shifts into one on Dec. 14, 2007. The plant currently produces 40 cars per hour over two shifts. After Jan. 2, 2008, the plant will manufacture 56 cars per hour over one shift, sources report citing GM spokesman Tom Wickham. Sales of the Cadillac DTS are down 14% this year, while sales of the Lucerne have fallen 15%, sources disclosed referring to Autodata Corp. "The products are selling but the capacity is greater than the demand," Mr. Wickham said. "We have to make sure we don't have too much inventory out there." As reported in the Troubled Company Reporter on Sept. 27, 2007, GM reached a labor deal with the United Auto Workers union, bringing unprecedented job security with company commitments to invest in new products for its existing U.S. facilities, as well as a moratorium on plant closings and outsourcing of work over the life of the agreement. The UAW also was able to secure a commitment to hire 3,000 temporary workers into full-time, traditional employment. Sources say that under the labor contract, the Hamtramck plant, one of those who were promised jobs, will start production of a crossover vehicle in 2009 and a midsize Chevrolet sedan in 2012. The plant is expected to manufacture GM's planned electric hybrid vehicle, the Chevrolet Volt, in 2010. Headquartered in Detroit, Michigan, General Motors Corp. (NYSE: GM) -- http://www.gm.com/-- was founded in 1908. GM employs about 280,000 people around the world and manufactures cars and trucks in 33 countries, including the United Kingdom, Germany, France, Russia, Brazil and India. In 2006, nearly 9.1 million GM cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab, Saturn and Vauxhall. GM's OnStar subsidiary is the industry leader in vehicle safety, security and information services. * * * As reported in the Troubled Company Reporter on Oct. 17, 2007, Standard & Poor's Ratings Services said that its long-term ratings on General Motors Corp. remain on CreditWatch with positive implications, where they were placed Sept. 26, 2007. S&P placed the ratings on CreditWatch when GM and its main union, the United Auto Workers, reached a tentative new labor contract. The UAW has since approved that contract, and GM discussed the contract's economics. S&P expect to resolve the CreditWatch listing by Oct. 31, 2007. As reported in the Troubled Company Reporter on Sept. 28, 2007, Fitch Ratings has affirmed and removed the Issuer Default Rating and debt ratings of General Motors from Rating Watch Negative following the announcement that GM has reached an agreement on a new contract with the United Auto Workers. Fitch currently rates GM as: IDR 'B'; Senior secured 'BB/RR1'; and Senior unsecured 'B- /RR5'. Fitch said GM's rating outlook is negative. GERDAU AMERISTEEL: To Issue 110 Million of Common Shares -------------------------------------------------------- Gerdau Ameristeel has filed a preliminary prospectus with the U.S. and Canadian securities regulatory authorities for the issuance of 110 million common shares. Business News Americas relates that Brazilian parent firm Gerdau SA agreed to purchase 73 million of the common shares that Gerdau Ameristeel will issue. Gerdau holds a 67% stake in Gerdau Ameristeel. According to BNamericas, net proceeds from the offering will be allocated for the partial payment of loans related to Gerdau Ameristeel's acquisition of US-based Chaparral Steel in a US$4.22-billion all-cash deal that closed in September 2007. Gerdau Ameristeel said in a statement that the share offering could include the issuance of another 16.5 million shares. About Gerdau SA Headquartered in Porto Alegre, Brazil, Gerdau SA -- http://www.gerdau.com.br/-- produces and distributes crude steel and related long rolled products, drawn products, and long specialty products. In addition to Brazil, Gerdau operates in Argentina, Canada, Chile, Colombia, Uruguay and the United States. About Gerdau Ameristeel Headquartered in Tampa, Florida, Gerdau Ameristeel Corporation (NYSE: GNA; TSX: GNA.TO) -- http://www.ameristeel.com/-- is a mini-mill steel producer in North America. Through its vertically integrated network of 17 mini-mills, 17 scrap recycling facilities and 52 downstream operations, Gerdau Ameristeel serves customers throughout North America. The company's products are sold to steel service centers, steel fabricators, or directly to original equipment manufactures for use in a variety of industries, including construction, cellular and electrical transmission, automotive, mining and equipment manufacturing. Gerdau Ameristeel is a unit of Brazilin firm Gerdau SA. * * * As reported in the Troubled Company Reporter on Oct 1, 2007, Moody's Investors Service confirmed these ratings on Gerdau Ameristeel Corporation: (i) 'Ba1' probability of default rating; (ii) 'Ba1' corporate family rating; and (iii) 'Ba1', LGD4 59% US$405 million senior unsecured regular bond. Moody's said the outlook for all ratings is stable. KENDLE INT'L: Names Mary Briggs Vice President for Global Sales --------------------------------------------------------------- Kendle has appointed Mary Briggs, as Vice President for Global Sales. Ms. Briggs will lead the ongoing sales growth strategy as well as develop the global sales organization as Kendle continues to expand its worldwide presence. She will report directly to Vice President and Chief Marketing Officer Simon Higginbotham and will work closely with senior executives from across the company's core service brands -- Clinical Development, Regulatory Affairs, Biometrics and Late Phase -- to drive sales growth in each brand. "I am delighted to welcome Mary to this new and crucial role as Kendle continues to grow to meet the needs of both customers and shareholders," said Mr. Higginbotham. "She has established a track record of outstanding sales leadership in the drug development industry, including significant roles within large global CROs and top biopharmaceutical companies. Her considerable reputation throughout the industry coupled with extensive experience make her uniquely qualified to maintain and grow Kendle's record sales environment, which delivered results at triple the reported sector growth rate for Phase I- IV clinical development services in 2006." Ms. Briggs brings more than two decades of sales, management and consulting experience in the biopharmaceutical industry to the position. She is an accomplished speaker, having served on numerous speakers' bureaus, including ongoing speaking engagements for the Drug Information Association, National Pharmacists Association and several leading biopharmaceutical companies. Furthermore, Ms. Briggs has trained hundreds of investigators on building their clinical trial business as well as nontraditional approaches to patient recruitment. Since joining Kendle in 2005 as Senior Director, Strategic Accounts, Ms. Briggs has developed sales growth strategies that have lead to outstanding relationships with customers and propelled her team to best-in-class sales achievement. About Kendle Based in Cincinnati, Kendle International Inc. (Nasdaq: KNDL) -- http://www.kendle.com/-- is a global clinical research organization and provides Phase II-IV clinical development services worldwide. The company's global clinical development business is focused on five regions - North America, Europe, Asia/Pacific, Africa and Latin America including Brazil. * * * As of July 3, 2007, the company carried Moody's B1 long-term corporate family rating, B1 bank loan debt, and B2 probability of default rating. Moody's said the outlook is stable. In addition, the company also carried Standard & Poor's B+ long- term foreign and local issuer credits. S&P said the outlook is stable. SCO GROUP: Terminates 16 Employees; Wants Names Filed Under Seal ---------------------------------------------------------------- In a filing with the U.S. Bankruptcy Court for the District of Delaware, SCO Group Inc. and SCO Operations Inc. disclosed that they were terminating 16 of their 123 employees. The Debtors, in this regard, ask the Court for authority to continue their prepetition severance policy and payment of severance and accrued benefits to the terminated employees. The Debtors say that prior to filing for bankruptcy, they had a severance policy generally applicable to all full-time employees terminated without cause. At the same time, the Debtors also ask the Court that copies of their severance policy as well as the names and specific severance amounts to be paid to terminated employees be filed under seal. The Debtors contend that the information contained in these documents consitute confidential information that is not in the public realm. The Debtors fear that their current employees and the identified terminated employees may experience harrasment from other companies in the Debtors' industry. The Debtors further argue that "poaching" of the remaining employees by competitors may occur if the information is made public. Headquartered in Lindon, Utah, The SCO Group Inc. (Nasdaq: SCOX) fka Caldera International Inc. -- http://www.sco.com/-- provides software technology for distributed, embedded and network-based systems, offering SCO OpenServer for small to medium business and UnixWare for enterprise applications and digital network services. The company has office locations in Australia, Austria, Argentina, Brazil, China, Japan, Poland, Russia, among others. The company and its affiliate, SCO Operations Inc., filed for Chapter 11 protection on Sept. 14, 2007, (Bankr. D. Del. Lead Case No. 07-11337). Paul Steven Singerman, Esq., and Arthur Spector, Esq., at Berger Singerman P.A., represent the Debtors. James O'Neill Esq., and Laura Davis Jones, Esq., at Pachulski Stang Ziehl & Jones LLP, is the Debtors' local counsel. Epiq Bankruptcy Solutions, LLC, acts as the Debtors' claims and noticing agent. An Official Committee of Unsecured Creditors has yet to be appointed in these cases by the Office of the United States Trustee. The Debtors' exclusive period to file a chapter 11 plan expires on March 12, 2008. SCO GROUP: Files Schedules of Assets & Liabilities -------------------------------------------------- The SCO Group Inc. submitted to the U.S. Bankruptcy Court for the District of Delaware its schedules of assets and liabilities, disclosing: Name of Schedule Assets Liabilities ---------------- ---------- ----------- A. Real Property B. Personal Property US$4,772,875 C. Property Claimed as Exempt D. Creditors Holding Secured Claims E. Creditors Holding Unsecured Priority Claims F. Creditors Holding Unsecured Non-priority Claims US$2,141,258 ---------- ----------- TOTAL US$4,772,875 US$2,141,258 SCO Operations' Schedules In a separate filing, SCO Operations Inc., a debtor-affiliate, also filed its schedules of assets and liabilities, disclosing: Name of Schedule Assets Liabilities ---------------- ---------- ----------- A. Real Property B. Personal Property US$9,549,519 C. Property Claimed as Exempt D. Creditors Holding Secured Claims E. Creditors Holding Unsecured Priority Claims US$484,514 F. Creditors Holding Unsecured Non-priority Claims US$2,533,975 ---------- ----------- TOTAL US$9,549,519 US$3,018,489 Headquartered in Lindon, Utah, The SCO Group Inc. (Nasdaq: SCOX) fka Caldera International Inc. -- http://www.sco.com/-- provides software technology for distributed, embedded and network-based systems, offering SCO OpenServer for small to medium business and UnixWare for enterprise applications and digital network services. The company has office locations in Australia, Austria, Argentina, Brazil, China, Japan, Poland, Russia, among others. The company and its affiliate, SCO Operations Inc., filed for Chapter 11 protection on Sept. 14, 2007, (Bankr. D. Del. Lead Case No. 07-11337). Paul Steven Singerman, Esq., and Arthur Spector, Esq., at Berger Singerman P.A., represent the Debtors. James O'Neill Esq., and Laura Davis Jones, Esq., at Pachulski Stang Ziehl & Jones LLP, is the Debtors' local counsel. Epiq Bankruptcy Solutions, LLC, acts as the Debtors' claims and noticing agent. An Official Committee of Unsecured Creditors has yet to be appointed in these cases by the Office of the United States Trustee. The Debtors' exclusive period to file a chapter 11 plan expires on March 12, 2008. * BRAZIL: Reaches US$1-Billion Loan Deal with Angola ---------------------------------------------------- Angola Press Agency reports that Brazil and Angola are signing, in Luanda, a US$1 billion financing deal under the memorandum of understanding between the two countries. The Angolan paper relates that Lucia Sousa, director of financing programs for exportation with the Brazilian Ministry of Development, Industry, and External Commerce, disclosed the accord at her arrival in Luanda, on Tuesday, in the ambit of a mission of the Committee of Financing and Guarantee to Exports (COFIG). COFIG includes: -- the Angolan Presidency Civil Office, -- the Planning Ministry, Budget and Management, -- the Chamber of External Commerce, -- The Brazilian Credit Insurance Company to Exports, -- the Foreign Ministry and -- Brazil Bank. According to the report, the COFIG will prepare for, among other tasks, the arrival of Brazilian President Lula da Silva, to Angola. President da Silva is in talks with the Head of State Jose Eduardo dos Santos between both countries' delegations. Both countries' memorandum of understanding was signed in 1995 and since then there is a financing stock for Angola for US$1.3 billion, the Agency adds. Lucia Sousa stressed that commercial interchange between the two countries recorded a 150% increased compared to the previous year. * * * As reported in the Troubled Company Reporter-Latin America on May 14, 2007, Fitch Ratings upgraded Brazil's long-term foreign and local currency sovereign Issuer Default Ratings to 'BB+' from 'BB' and the Country Ceiling to 'BBB-' from 'BB+'. In addition, Fitch affirmed Brazil's Short-term IDR at 'B'. Fitch said the rating outlook is stable. * BRAZIL: Petrobras Says International Oil Prices To Remain High ---------------------------------------------------------------- Brazilian state-owned oil firm Petroleo Brasileiro SA Chief Executive Officer Jose Sergio Gabrielli told the press that international oil prices will remain high "in the long run." Business News Americas relates that oil prices traded at "a record high" of over US$88 per barrel this week on international markets. Mr. Gabrielli commented to BNamericas, "The era of low oil prices which allowed for the development of the world economy is ending. We will have to live with high oil prices and under this scenario, alternative energy sources will become more feasible." Oil refining capacity is near its limit. New oil discoveries are in restricted areas with high exploration and production costs. Other industry costs are also increasing, BNamericas states, citing Mr. Gabrielli. About Petroleo Brasileiro Headquartered in Rio de Janeiro, Brazil, Petroleo Brasileiro SA aka Petrobras -- http://www2.petrobras.com.br/ingles/index.asp -- was founded in 1953. The company explores, produces, refines, transports, markets, distributes oil and natural gas and power to various wholesale customers and retail distributors in Brazil. Petrobras has operations in China, India, Japan, and Singapore. * * * As reported on Nov. 24, 2006, Standard & Poor's Ratings Services revised its outlook on its long-term ratings on the Federative Republic of Brazil to positive from stable. Standard & Poor's also affirmed these ratings on the Republic of Brazil: -- 'BB' for long-term foreign currency credit rating, -- 'BB+' for long-term local currency credit rating, and -- 'B' for short-term currency sovereign credit rating. * * * As reported in the Troubled Company Reporter-Latin America on May 14, 2007, Fitch Ratings upgraded Brazil's long-term foreign and local currency sovereign Issuer Default Ratings to 'BB+' from 'BB' and the Country Ceiling to 'BBB-' from 'BB+'. In addition, Fitch affirmed Brazil's Short-term IDR at 'B'. Fitch said the rating outlook is stable. * BRAZIL: Commits to Increase Trade with India & South Africa ------------------------------------------------------------- Brazil, India and South Africa have renewed their commitment to a multi-lateral trade among them. As part of the recently concluded second India-Brazil-South Africa (IBSA) Heads of State Summit, the three nations aimed to increase trade to more than US$15 billion by 2010, the Times of India reports. The three countries, India Times relates, have entered into new agreements on: * cultural cooperation, * cooperation in health and medicine, * and Memoranda of Understanding on social issues, higher education, tax administration and wind resources. The Summit was attended by Prime Minister Manmohan Singh, South Africa President Thabo Mbeki and Brazil's President Lula da Silva, according to the Times of India. Times of India states that the officials have encouraged industry players to be more ambitious and to exceed the target of US$15 billion. Among the pertinent issues tackled during the Summit are: * co-operation aimed at poverty eradication and development; * further enhancing political and trade relations among the three countries; and * developments with regard to the World Trade Organisation negotiations and the conclusion of the Doha Development Round. Representatives of the various IBSA working groups, including business, academics, Parliamentary forum, civil society forum and the women's forum made reports to the three Heads of State, Times of India adds. Other published reports say that the leaders backed up the launch of two additional working groups on Human Settlement Development and on Environmental and Climate Change. * * * As reported in the Troubled Company Reporter-Latin America on May 14, 2007, Fitch Ratings upgraded Brazil's long-term foreign and local currency sovereign Issuer Default Ratings to 'BB+' from 'BB' and the Country Ceiling to 'BBB-' from 'BB+'. In addition, Fitch affirmed Brazil's Short-term IDR at 'B'. Fitch said the rating outlook is stable. * BRAZIL: Underwater Pumping System May Raise JUB-6 Well Output --------------------------------------------------------------- Brazilian state-run oil firm Petroleo Brasileiro SA told Bernd Radowitz at Dow Jones Newswires that the Submarine Centrifuge Pumping System, its new underwater pumping system, could more than double product at the JUB-6 test well in the Jubarte field. According to Petroleo Brasileiro's press statement, the pumping system was deployed at the JUB-6 well. Dow Jones relates that scientists at Petroleo Brasileiro's Cenpes research and development center and the Espirito Santo business unit engineers and suppliers developed the device. The pumping system increased production at the well from 10,000 barrels a day to 24,000 barrels a day during the past 100 days, the company's statement said. The system will also make production from marginal deep-water heavy oil accumulations economically viable, Dow Jones states, citing Petroleo Brasileiro. About Petroleo Brasileiro Headquartered in Rio de Janeiro, Brazil, Petroleo Brasileiro SA aka Petrobras -- http://www2.petrobras.com.br/ingles/index.asp -- was founded in 1953. The company explores, produces, refines, transports, markets, distributes oil and natural gas and power to various wholesale customers and retail distributors in Brazil. Petrobras has operations in China, India, Japan, and Singapore. * * * As reported on Nov. 24, 2006, Standard & Poor's Ratings Services revised its outlook on its long-term ratings on the Federative Republic of Brazil to positive from stable. Standard & Poor's also affirmed these ratings on the Republic of Brazil: -- 'BB' for long-term foreign currency credit rating, -- 'BB+' for long-term local currency credit rating, and -- 'B' for short-term currency sovereign credit rating. * * * As reported in the Troubled Company Reporter-Latin America on May 14, 2007, Fitch Ratings upgraded Brazil's long-term foreign and local currency sovereign Issuer Default Ratings to 'BB+' from 'BB' and the Country Ceiling to 'BBB-' from 'BB+'. In addition, Fitch affirmed Brazil's Short-term IDR at 'B'. Fitch said the rating outlook is stable. =========================== C A Y M A N I S L A N D S =========================== APCOA IIP: Proofs of Claim Filing Deadline Is Nov. 5 ---------------------------------------------------- Apcoa IIP Limited's creditors are given until Nov. 5, 2007, to prove their claims to Westport Services Ltd., the company's liquidator, or be excluded from receiving any distribution or payment. In their proofs of claim, creditors must indicate their full names, addresses, the full particulars of their debts or claims, and the names and addresses of their lawyers, if any. Apcoa IIP's shareholders agreed on Sept. 24, 2007, to place the company into voluntary liquidation under Bermuda's Companies Act 1981. The liquidator can be reached at: Westport Services Ltd. Attention: Evania Ebanks P.O. Box 1111 Grand Cayman KY1-1102, Cayman Islands Telephone: 345 949 5122 Fax: 345 949 7920 APCOA EQUITY: Proofs of Claim Filing Is Until Nov. 5 ---------------------------------------------------- Apcoa Equity Limited's creditors are given until Nov. 5, 2007, to prove their claims to Westport Services Ltd., the company's liquidator, or be excluded from receiving any distribution or payment. In their proofs of claim, creditors must indicate their full names, addresses, the full particulars of their debts or claims, and the names and addresses of their lawyers, if any. Apcoa Equity's shareholders agreed on Sept. 24, 2007, to place the company into voluntary liquidation under Bermuda's Companies Act 1981. The liquidator can be reached at: Westport Services Ltd. Attention: Evania Ebanks P.O. Box 1111 Grand Cayman KY1-1102, Cayman Islands Telephone: 345 949 5122 Fax: 345 949 7920 BABYLON ML: Creditors Must File Proofs of Claim by Nov. 5 --------------------------------------------------------- Bablylon ML Ltd.'s creditors are given until Nov. 5, 2007, to prove their claims to Michael Pungello and Gabriel Mairzadeh, the company's liquidators, or be excluded from receiving any distribution or payment. In their proofs of claim, creditors must indicate their full names, addresses, the full particulars of their debts or claims, and the names and addresses of their lawyers, if any. Babylon ML's shareholders agreed on Sept. 3, 2007, to place the company into voluntary liquidation under Bermuda's Companies Act 1981. The liquidators can be reached at: Gabriel Mairzadeh Michael Pungello Campbells 4th Floor, Scotia Centre P.O. Box 884 George Town Grand Cayman KY1-1103 CABLE & WIRELESS: Dismisses Speculation on Business Disposal ------------------------------------------------------------ Cable & Wireless plc is unlikely to sell its business, Jim Marsh, chief executive of Europe, Asia & U.S told Reuters, dismissing speculations. According to Mr. Marsh, considering C&W's unique asset capability, it might in fact be on the acquisition trail. He added that the telecoms group is investing significantly in Asia. "The question is, if you have a unique capability like we do, why would you want to sell that?" Mr. Marsh was quoted by Reuters as saying. "Surely it's more likely that you'd want to continue to build up the business you have today, by buying things. So it's unlikely that we will choose to sell the business when we've got such unique asset capability." Headquartered in London, Cable & Wireless Plc -- http://www.cw.com/new/-- provides voice, data and IP (Internet Protocol) services to business and residential customers, as well as services to other telecoms carriers, mobile operators and providers of content, applications and Internet services. The company has operations are in the United Kingdom, India, China, the Cayman Islands and the Middle East. * * * In April 2007, in connection with the implementation of its new Probability-of-Default and Loss-Given-Default rating methodology for the corporate families in the Telecommunications, Media and technology sector, Moody's Investors Service confirmed its Ba3 Corporate Family Rating for Cable & Wireless Plc. Moody's also assigned a Ba3 Probability-of-Default rating to the company. * Issuer: Cable & Wireless Plc Projected Debt LGD Loss-Given Debt Issue Rating Rating Default ---------- ------- ------- -------- 4% Senior Unsecured Conv./Exch. Bond/Debenture Due 2010 B1 LGD4 60% GBP200 million 8.75% Senior Unsecured Regular Bond/Debenture Due 2012 B1 LGD4 60% EQUITY APC: Proofs of Claim Filing Ends on Nov. 5 ------------------------------------------------- Equity APC Limited's creditors are given until Nov. 5, 2007, to prove their claims to Westport Services Ltd., the company's liquidator, or be excluded from receiving any distribution or payment. In their proofs of claim, creditors must indicate their full names, addresses, the full particulars of their debts or claims, and the names and addresses of their lawyers, if any. Equity APC's shareholders agreed on Sept. 24, 2007, to place the company into voluntary liquidation under Bermuda's Companies Act 1981. The liquidator can be reached at: Westport Services Ltd. Attention: Evania Ebanks P.O. Box 1111 Grand Cayman KY1-1102, Cayman Islands Telephone: 345 949 5122 Fax: 345 949 7920 INVESTCORP APCOA: Proofs of Claim Filing Deadline Is Nov. 5 ----------------------------------------------------------- Investcorp Apcoa Investing Limited's creditors are given until Nov. 5, 2007, to prove their claims to Westport Services Ltd., the company's liquidator, or be excluded from receiving any distribution or payment. In their proofs of claim, creditors must indicate their full names, addresses, the full particulars of their debts or claims, and the names and addresses of their lawyers, if any. Investcorp Apcoa's shareholders agreed on Sept. 24, 2007, to place the company into voluntary liquidation under Bermuda's Companies Act 1981. The liquidator can be reached at: Westport Services Ltd. Attention: Evania Ebanks P.O. Box 1111 Grand Cayman KY1-1102, Cayman Islands Telephone: 345 949 5122 Fax: 345 949 7920 INVESTCORP APCOA ISLAMIC: Proofs of Claim Filing Ends on Nov. 5 --------------------------------------------------------------- Investcorp Apcoa Islamic Financing Limited's creditors are given until Nov. 5, 2007, to prove their claims to Westport Services Ltd., the company's liquidator, or be excluded from receiving any distribution or payment. In their proofs of claim, creditors must indicate their full names, addresses, the full particulars of their debts or claims, and the names and addresses of their lawyers, if any. Investcorp Apcoa Islamic's shareholders agreed on Sept. 24, 2007, to place the company into voluntary liquidation under Bermuda's Companies Act 1981. The liquidator can be reached at: Westport Services Ltd. Attention: Evania Ebanks P.O. Box 1111 Grand Cayman KY1-1102, Cayman Islands Telephone: 345 949 5122 Fax: 345 949 7920 KARDIO THIRD: Proofs of Claim Filing Ends on Nov. 5 --------------------------------------------------- Kardio Third Holdings' creditors are given until Nov. 5, 2007, to prove their claims to Ali Mudeen, the company's liquidator, or be excluded from receiving any distribution or payment. In their proofs of claim, creditors must indicate their full names, addresses, the full particulars of their debts or claims, and the names and addresses of their lawyers, if any. Kardio Third's shareholders agreed on Sept. 27, 2007, to place the company into voluntary liquidation under Bermuda's Companies Act 1981. The liquidator can be reached at: Ali Mudeen Attention: Janeen Aljadir Caledonian Bank & Trust Limited Caledonian House, 69 Dr. Roy's Drive P.O. Box 1043, George Town Grand Cayman, Cayman Islands Telephone: (345) 949-4943 Fax: (345) 814-4859 PROJECT CENTRAL: Creditors Must File Proofs of Claim by Nov. 15 --------------------------------------------------------------- Project Central Limited's creditors are given until Nov. 15, 2007, to prove their claims to Linburgh Martin and Jeff Arkley, the company's liquidators, or be excluded from receiving any distribution or payment. In their proofs of claim, creditors must indicate their full names, addresses, the full particulars of their debts or claims, and the names and addresses of their lawyers, if any. Project Central's shareholders agreed on Sept. 17, 2007, to place the company into voluntary liquidation under Bermuda's Companies Act 1981. The liquidator can be reached at: Linburgh Martin Jeff Arkley P.O. Box 1034 George Town Grand Cayman, Cayman Islands For inquiries, you may contact: Neil Gray Close Brothers (Cayman) Limited Fourth Floor, Harbour Place P.O. Box 1034 George Town Grand Cayman, Cayman Islands Tel: (345) 949 8455 Fax: (345) 949 8499 SECURITY CAPITAL: Creditors Must File Proofs of Claim by Nov. 15 ---------------------------------------------------------------- Security Capital Ltd.'s creditors are given until Nov. 15, 2007, to prove their claims to Geoffrey Varga and William Cleghorn at Kinetic Partners Cayman LLP, the company's liquidators, or be excluded from receiving any distribution or payment. In their proofs of claim, creditors must indicate their full names, addresses, the full particulars of their debts or claims, and the names and addresses of their lawyers, if any. Security Capital's shareholders agreed on Sept. 27, 2007, to place the company into voluntary liquidation under Bermuda's Companies Act 1981. The liquidators can be reached at: Geoffrey Varga William Cleghorn Kinetic Partners Cayman LLP c/o Karen Price P.O. Box 10387 Grand Cayman KY1-1004 Cayman Islands Tel: (345) 623 9904 Fax: (345) 623 0007 SHORELINE GROUP: Creditors Must File Proofs of Claim by Nov. 16 --------------------------------------------------------------- Shoreline Group, Ltd.'s creditors are given until Nov. 16, 2007, to prove their claims to Peter Mackay at Global Captive Management, Ltd., the company's liquidator, or be excluded from receiving any distribution or payment. In their proofs of claim, creditors must indicate their full names, addresses, the full particulars of their debts or claims, and the names and addresses of their lawyers, if any. Shoreline Group's shareholders agreed on Sept. 18, 2007, to place the company into voluntary liquidation under Bermuda's Companies Act 1981. The liquidator can be reached at: Peter Mackay Global Captive Management, Ltd. Building 3, 2nd Floor Governors Square, 23 Lime Tree Bay P.O. Box 1363 Grand Cayman KY1-1108, Cayman Islands Tel: (345) 949 7966 SOJA CAPITAL: Creditors Must File Proofs of Claim by Nov. 18 ------------------------------------------------------------ Soja Capital's creditors are given until Nov. 18, 2007, to prove their claims to Andrew Johnson at Wilmington Trust (Cayman), Ltd., the company's liquidator, or be excluded from receiving any distribution or payment. In their proofs of claim, creditors must indicate their full names, addresses, the full particulars of their debts or claims, and the names and addresses of their lawyers, if any. Soja Capital's shareholders agreed on Dec. 27, 2006, to place the company into voluntary liquidation under Bermuda's Companies Act 1981. The liquidator can be reached at: Andrew Johnson Wilmington Trust (Cayman), Ltd. 4th Floor, Century Yard Cricket Square, Elgin Avenue P.O. Box 32322 Grand Cayman KY1-1209, Cayman Islands Tel: (345) 814 6703 SOLARIS SPECTRA: Creditors Must File Proofs of Claim by Nov. 15 --------------------------------------------------------------- Solaris Spectra Currency Only International Ltd.'s creditors are given until Nov. 15, 2007, to prove their claims to Avalon Management Limited, the company's liquidator, or be excluded from receiving any distribution or payment. In their proofs of claim, creditors must indicate their full names, addresses, the full particulars of their debts or claims, and the names and addresses of their lawyers, if any. Solaris Spectra's shareholders agreed on Sept. 24, 2007, to place the company into voluntary liquidation under Bermuda's Companies Act 1981. The liquidator can be reached at: Avalon Management Limited Third Floor, Zephyr House Mary Street P.O. Box 1180 Grand Cayman KY1-1108 Cayman Islands For inquires, you may contact: Quin & Hampson (Ref: JAPF) c/o P.O. Box 1348 Grand Cayman KY1-1108 Cayman Islands Tel: (+1) 345 949 4123 Fax: (+1) 345 949 4647 SOUTHWEST UNDERWRITERS: Proofs of Claim Must be Filed by Nov. 15 ---------------------------------------------------------------- Southwest Underwriters, Inc.'s creditors are given until Nov. 15, 2007, to prove their claims to dms Corporate Services, Ltd., the company's liquidator, or be excluded from receiving any distribution or payment. In their proofs of claim, creditors must indicate their full names, addresses, the full particulars of their debts or claims, and the names and addresses of their lawyers, if any. Southwest Underwriters' shareholders agreed on Sept. 18, 2007, to place the company into voluntary liquidation under Bermuda's Companies Act 1981. The liquidator can be reached at: dms Corporate Services, Ltd. &n