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

                    L A T I N   A M E R I C A

          Tuesday, November 6, 2007, Vol. 8, Issue 220

                          Headlines

A R G E N T I N A

ALCRI PLUS: Proofs of Claim Verification Deadline Is Nov. 29
AQUIPESOS SA: Proofs of Claim Verification Is Until Feb. 4, 2008
CLORCHEMICAL SA: Trustee Verifies Proofs of Claim Until Nov. 23
EMPRESA DISTRIBUIDORA: Closes US$34.7MM Discount Notes Buyback
FRIGORIFICO MAYOSOL: Trustee Filing General Report on Nov. 16

HIERROSTANDARD SA: Claims Verification Deadline Is Dec. 21
LOGISAT SA: Proofs of Claim Verification Ends on Feb. 4, 2008
PLANETOUT INC: Posts US$4.8 Million Third Quarter Net Loss
POLYMER GROUP: Incurs US$20.9 Million Third Quarter Net Loss
TENNECO AUTOMOTIVE: Moody's Holds B1 Corporate Family Rating

TENNECO INC: Commences Sale of US$250 Million Senior Notes
TENNECO INC: Commences Tender Offer for 10-1/4% US$230-Mln Notes
TENNECO INC: Fitch Rates New Senior Unsecured Notes at BB-
TENNECO INC: S&P Rates Proposed US$250MM Senior Notes at B+

* ARGENTINA: Uruguay Delays Botnia Mill Opening for a Week


B E R M U D A

AAF HOLDINGS: Proofs of Claim Filing Deadline Is Nov. 20


B O L I V I A

COEUR D'ALENE: Earns US$3.6 Million in Third Quarter of 2007
FRESH DEL MONTE: S&P Puts 'BB-' Rating Under Positive Watch
INTERMEC INC: Reports US$4.4 Mil. Net Income in 2007 Third Qtr.

* BOLIVIA: Stable Economy Cues S&P To Revise Outlook to Stable


B R A Z I L

EL PASO: Reports US$36.1 Million Net Income for Third Quarter
FERRO CORP: Initiates Next Step in European Restructuring
IWT TESORO: Court Approves Lowenstein Sandler as Panel's Counsel
GENERAL MOTORS: October 2007 Sales Increased by 3%
NRG ENERGY: Commences Offer To Purchase US$4.7 Billion of Notes

REALOGY CORP: S&P Lowers Corporate Credit Rating from B+ to B
SCO GROUP: Seeks Court OK to Hire Mesirow as Financial Advisor
SCO GROUP: U.S. Trustee Balks at Retention of Mesirow as Advisor
TELEMAR NORTE: Reports BRL637-Mil. Net Earnings in Third Quarter

* BRAZIL: IFC Launches First Domestic "Amazonia" Bonds
* BRAZIL: Wants To Overturn Court Injunction on NatGas Supply


C A Y M A N   I S L A N D S

CORLLETT LIMITED: Proofs of Claim Filing Deadline Is Nov. 15
EUFEX INVESTMENT: Proofs of Claim Filing Is Until Nov. 15
GLOBALSANTAFE CORP: Scheme Shareholders Meeting Is on Nov. 9
IRON MOUNTAIN: Proofs of Claim Filing Ends on Nov. 15
MUTUAL FUND: Proofs of Claim Filing Deadline Is Nov. 15

MUTUAL FUND BASKET: Proofs of Claim Filing Ends on Nov. 15
MUTUAL FUND BASKET MASTER: Proofs of Claim Filing Ends Nov. 15
MUTUAL FUND BASKET REFERENCE: Claims Filing Ends on Nov. 15
SAPIC-98 REFERENCE: Proofs of Claim Filing Deadline Is Nov. 15
SAPIC-98 REFERENCE FUND: Proofs of Claim Filing Ends on Nov. 15

SAPIC-98 REFERENCE FUND (43): Claims Filing Is Until Nov. 15
TRANSOCEAN INC: Holding Scheme Shareholders Meeting on Nov. 9


C H I L E

EMPRESAS IANSA: Fitch Affirms BB+ Rating on US$100-Million Notes
GMAC LLC: Unit Posts US$1.6 Bil. Net Loss in Third Quarter 2007
GMAC LLC: Moody's Downgrades Senior Unsecured Rating to Ba2
GMAC LLC: Lower Earnings Prospects Cue S&P To Put Neg. Outlook
METHANEX CORP: CEO Bruce Aitken to Buy 35,000 Additional Shares


C O L O M B I A

BANCOLOMBIA: To Sell COP262 Bln Mortgage Loans to Titularizadora
ECOPETROL SA: Fitch Affirms Foreign Issuer Default Rating at BB+


D O M I N I C A N   R E P U B L I C

CAP CANA: Fitch Affirms B Rating on US$250 Million Senior Notes


E C U A D O R

PETROECUADOR: Foreign Oil Cos. Have Until Nov. 7 To Settle Debts
PETROECUADOR: Governmentt To Scrap Off Oil-Saving Funds


E L   S A L V A D O R

INTERPUBLIC GROUP: Posts US$21.9 Million Net Loss in 3rd Quarter


G U A T E M A L A

AFFILIATED COMPUTER: Earns US$66.1 Mil. in Qtr. Ended Sept. 30
AFFILIATED COMPUTER: S&P Keeps Watch on BB Corp. Credit Rating
TECO ENERGY: Sells TECO Transport to Greenstreet for US$405 Mil.


H O N D U R A S

* HONDURAS: Secures US$300-Million Highway Project Loan from IDB


M E X I C O

ALLIS-CHALMERS: Earns US$13 Million in Quarter Ended Sept. 30
AMANCO HOLDING: Fitch Cuts & Withdraws Ratings
AVNET INC: Acquires ChannelWorx to Diversify Business in Market
INT'L RECTIFIER: Promotes Marc Rougee as Exec. VP for Operations
LIBBEY INC: Earns US$0.4 Million for Quarter Ended Sept. 30

MAZDA MOTOR: 2007 2nd Quarter Profit Rises 29% to JPY26.6 Bil.
QUAKER FABRIC: Can Hire RAS Management as Liquidation Consultant
QUAKER FABRIC: Files Schedules of Assets & Liabilities
QUAKER FABRIC: University Management to Collect Receivables
REMY WORLDWIDE: Taps Huron Consulting as Financial Consultant

WILLIAMS SCOTSMAN: Completes Merger with Ristretto Group


N I C A R A G U A

PERRY ELLIS: Signs Licensing Pact with Kellwood Company


P A N A M A

NEWLAND PROPERTIES: Fitch Assigns Preliminary BB Rating on Notes


P U E R T O   R I C O

GENESCO INC: Weak Performance Cues Moody's to Lower Ratings
MYLAN INC: Launches Offering of US$1.4 Billion Preferred Stock
MYLAN INC: Earns US$149.8 Million for Quarter Ended Sept. 30
PEP BOYS: Selling 34 Properties for US$166.2 Million
PULTE HOMES: S&P Downgrades Corporate Credit Rating to BB+


U R U G U A Y

NAVIOS MARITIME: Unit Files Amendment to Registration Statement

* URUGUAY: Botnia Pulp Mill Operations Delayed for a Week


V E N E Z U E L A

CHRYSLER LLC: Overall October 2007 U.S. Sales Down 9%
CHRYSLER LLC: Plans Product & Plant Changes in North America
CITGO PETROLEUM: Will Renovate Corpus Christi Unit Next Year
CMS ENERGY: Fitch Lifts Issuer Default Rating to BB+
CMS ENERGY: Posts US$100 Million Net Loss for Third Quarter 2007

HARVEST NATURAL: Chavez Inks Decree To Take Control of Harvest
HARVEST NATURAL: Says Petrodelta To be Operational in Few Months
PEABODY ENERGY: Completes Spin-Off of Patriot Coal Corporation
PETROLEOS DE VENEZUELA: Petrodelta Operational in Few Months
TIMKEN COMPANY: Board Declares US$0.17 Per Share Dividend

* VENEZUELA: Disallows Int'l Arbitration of Heavy-Crude Projects
* Large Companies with Insolvent Balance Sheets


                          - - - - -


=================
A R G E N T I N A
=================


ALCRI PLUS: Proofs of Claim Verification Deadline Is Nov. 29
------------------------------------------------------------
Juan Carlos Flores, the court-appointed trustee for Alcri Plus
S.R.L.'s bankruptcy proceeding, verifies creditors' proofs of
claim until Nov. 29, 2007.

Mr. Flores will present the validated claims in court as
individual reports on Feb. 9, 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 Alcri Plus 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 Alcri Plus'
accounting and banking records will be submitted in court on
April 1, 2008.

Mr. Flores is also in charge of administering Alcri Plus' assets
under court supervision and will take part in their disposal to
the extent established by law.

The trustee can be reached at:

         Juan Carlos Flores
         Avenida Corrientes 1847
         Buenos Aires, Argentina


AQUIPESOS SA: Proofs of Claim Verification Is Until Feb. 4, 2008
----------------------------------------------------------------
Edgardo Borghi, the court-appointed trustee for Aquipesos S.A.'s
bankruptcy proceeding, verifies creditors' proofs of claim until
Feb. 4, 2008.

Mr. Borghi will present the validated claims in court as
individual reports on March 14, 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 Aquipesos 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 Aquipesos' accounting
and banking records will be submitted in court on
April 30, 2008.

Mr. Borghi is also in charge of administering Aquipesos' assets
under court supervision and will take part in their disposal to
the extent established by law.

The trustee can be reached at:

         Edgardo Borghi
         Luis Viale 2176
         Buenos Aires, Argentina


CLORCHEMICAL SA: Trustee Verifies Proofs of Claim Until Nov. 23
---------------------------------------------------------------
Carlos Enrique Wulff, the court-appointed trustee for
Clorchemical S.A.'s reorganization proceeding, verifies
creditors' proofs of claim until Nov. 23, 2007.

Mr. Wulff will present the validated claims in court as
individual reports on Feb. 11, 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 Clorchemical 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 Clorchemical's
accounting and banking records will be submitted in court on
March 27, 2008.

Creditors will vote to ratify the completed settlement plan
during the assembly on Sept. 12, 2008.

The debtor can be reached at:

       Clorchemical S.A.
       Avenida Cordoba 1351
       Buenos Aires, Argentina

The trustee can be reached at:

       Carlos Enrique Wulff
       Virrey del Pino 2354
       Buenos Aires, Argentina


EMPRESA DISTRIBUIDORA: Closes US$34.7MM Discount Notes Buyback
--------------------------------------------------------------
Empresa Distribuidora y Comercializadora Norte S.A. has
completed the repurchase of US$34,726,342 principal amount of
Discount Notes due 2014, which includes US$24,500,000 of the
Tranche A Notes and US$10,226,342 of the Tranche B Notes.  In
addition, the company has completed the repurchase of
US$3,448,618 principal amount of Tranche B Par Notes due
December 2016.

Based in Buenos Aires, Argentina, Edenor is the largest
electricity distribution company in Argentina in terms of number
of customers and volume of energy sold.  Edenor commenced
operations in 1992, as a result of the privatization of the
previously state-owned SEGBA.  At that time, it was granted a
95-year concession to distribute electricity on an exclusive
basis in its concession area, the greater Buenos Aires
metropolitan area and northern portion of the City of Buenos
Aires.  EASA, which is controlled by Dolphin Energia S.A., is
Edenor's holding company.

                        *     *     *

As reported Jul 3, 2007, Moody's Investors Service assigned a B2
corporate family rating to Empresa Distribuidora Norte S.A
and to its US$250 million senior unsecured notes issuance due in
2017.  At the same time, Moody's upgraded Edenor's local
currency debt to B2 from B3 on its global scale and from Baa3.ar
to A1.ar on its national scale for Argentina.  Moody's said the
rating outlook is stable.

Also reported on Jul 3 was Standard & Poor's Ratings Services'
assignment of its single B rating to Edenor's 10-year bond for
up to US$250 million.  S&P said the outlook is positive.


FRIGORIFICO MAYOSOL: Trustee Filing General Report on Nov. 16
-------------------------------------------------------------
The court-appointed trustee for Frigorifico Mayosol S.A.C.I.'s
bankruptcy proceeding, will submit a general report containing
an audit of the company's accounting and banking records in the
National Commercial Court of First Instance in Buenos Aires on
Nov. 16, 2007.

Infobae didn't state the name of the trustee.

The trustee verified creditors' proofs of claim and presented
the validated claims in court as individual reports.

The trustee is also in charge of administering Frigorifico
Mayosol's assets under court supervision and will take part in
their disposal to the extent established by law.


HIERROSTANDARD SA: Claims Verification Deadline Is Dec. 21
----------------------------------------------------------
Fernando Altare, the court-appointed trustee for Hierrostandard
SA's bankruptcy proceeding, verifies creditors' proofs of claim
until Dec. 21, 2007.

Mr. Altare will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 14 in Buenos Aires, with the assistance of Clerk
No. 28, 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 Hierrostandard 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 Hierrostandard's
accounting and banking records will be submitted in court.

La Nacion didn't state the reports submission deadlines.

Mr. Altare is also in charge of administering Hierrostandard's
assets under court supervision and will take part in their
disposal to the extent established by law.

The debtor can be reached at:

         Hierrostandard SA
         Lavalle 1390
         Buenos Aires, Argentina

The trustee can be reached at:

         Fernando Altare
         Piedras 153
         Buenos Aires, Argentina


LOGISAT SA: Proofs of Claim Verification Ends on Feb. 4, 2008
-------------------------------------------------------------
Marisa Gacio, the court-appointed trustee for Logisat S.A.'s
bankruptcy proceeding, verifies creditors' proofs of claim until
Feb. 4, 2008.

Ms. Gacio will present the validated claims in court as
individual reports on March 14, 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 Logisat 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 Logisat's accounting
and banking records will be submitted in court on
April 30, 2008.

Ms. Gacio is also in charge of administering Logisat's assets
under court supervision and will take part in their disposal to
the extent established by law.

The trustee can be reached at:

         Marisa Gacio
         San Martin 793
         Buenos Aires, Argentina


PLANETOUT INC: Posts US$4.8 Million Third Quarter Net Loss
----------------------------------------------------------
PlanetOut Inc. has reported total revenue for the third quarter
of 2007 was US$13.7 million, a decrease of two percent compared
to US$14.0 million for the same period one year ago.

"During the third quarter we continued to make significant
progress in our efforts to solidify our balance sheet and
position the company for future growth," said Karen Magee, chief
executive officer, PlanetOut Inc.  "During the quarter we closed
our private placement financing for US$26.2 million dollars with
a group of new and existing institutional investors, and we took
major actions to simplify and focus the company, and reduce
expenses."

"During this challenging time of rebuilding the company, we are
making tough but necessary strategic decisions that we believe
will result in stronger, more successful businesses going
forward," Ms. Magee added.

                        Sale of RSVP

PlanetOut also announced that the closing of its planned sale of
assets of RSVP Productions, Inc. to Atlantis Events, Inc. has
not yet occurred, as a certain condition to closing that
transaction has not yet been satisfied.  "RSVP's operations
continue to function as usual and we are working to ensure that
the transaction closes as quickly as possible," said Ms. Magee.

                 Third-Quarter Financial Results

Revenue

Total revenue for the third quarter of 2007 was US$13.7 million,
a decrease of two percent compared to US$14.0 million for the
same period one year ago.

Advertising services revenue for the third quarter of 2007 was
US$7.3 million, up from US$6.4 million for the third quarter of
2006.

Subscription services revenue for the third quarter of 2007 was
US$5.4 million, down from US$5.8 million for the third quarter
of 2006.

Transaction services revenue for the third quarter of 2007 was
US$1.0 million, down from US$1.8 million for the same quarter a
year ago.

Adjusted EBITDA

Adjusted EBITDA for the third quarter of 2007 was US$0.9
million, down from US$1.4 million for the same quarter a year
ago.

Net Loss and Net Loss Per Share

GAAP net loss for the third quarter of 2007 was US$4.8 million,
or a loss of US$1.21 per basic and diluted share, compared with
a GAAP net loss of US$1.5 million for the same quarter a year
ago, or a loss of US$0.86 per basic and diluted share.

For the third quarter of 2007, Adjusted Net Loss was US$3.2
million, or a loss of US$0.83 per basic and diluted share, down
from Adjusted Net Income of US$0.0 million for the third quarter
of 2006, or US$0.03 per basic and diluted share.

                      Business Outlook

The following statements are based upon management's current
expectations.  These statements are forward-looking, and actual
results may differ materially.  The company undertakes no
obligation to update these statements.

For full year 2007, including the year-to-date results of its
discontinued operations, PlanetOut has reduced its previous
guidance and expects total revenue to be between US$69.0 million
and US$72.0 million and Adjusted EBITDA to be between US$9
million and US$11 million.

Based in San Francisco, California, PlanetOut Inc. (Nasdaq:
LGBT) -- http://www.planetoutinc.com/-- is a media and
entertainment company exclusively serving the lesbian, gay,
bisexual and transgender community.  The company provides this
audience a wide variety of products and services including
online and print media properties, a travel marketing business
and other goods and services.  PlanetOut has additional offices
in New York, Los Angeles, Minneapolis, London and Buenos Aires.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 28, 2007, the company has experienced significant net losses
and expects to continue to incur losses in the future.  As of
Mar. 31, 2007, its accumulated deficit was approximately US$45.2
million.  Although the company had positive net income in the
year ended Dec. 31, 2005, it experienced a net loss of US$3.7
million for the year ended Dec. 31, 2006, and a net loss of
US$6.9 million for the quarter ended Mar. 31, 2007, and the
company may not be able to regain or sustain profitability in
the near future, causing its financial condition to suffer and
its stock price to decline.

At Mar. 31, 2007, the company's balance sheet showed total
assets of US$88.8 million and total liabilities of US$44.1
million, resulting in a US$44.6 million stockholders' equity.
At Dec. 31, 2006, equity was US$51.1 million.


POLYMER GROUP: Incurs US$20.9 Million Third Quarter Net Loss
------------------------------------------------------------
Polymer Group, Inc. has reported results of operations for the
third quarter and nine-month period ended Sept. 29, 2007.

    Highlights included:

-- Sales for the quarter grew 3.1% to US$256.2 million over the
   third quarter of 2006 and were US$794.2 million, up 4.8%, for
   the first nine months compared to the prior year

-- Gross profit for the quarter was up 12.9% compared to the
   third quarter of 2006 to US$39.7 million.  For the first nine
   months, gross profit was US$130.0 million compared to
   US$114.8 million the prior year, representing a 13.3%
   increase

-- Adjusted EBITDA for the third quarter increased 13.3% over
   the third quarter of 2006 to US$28.8 million and 15.0% for
   the first nine months compared to the prior year period to
   US$92.6 million.

Net sales for the third quarter of 2007 were US$256.2 million,
up US$7.6 million or 3.1% compared to US$248.6 million in the
third quarter of 2006.  Sales increases during the quarter were
primarily driven by the impact of higher comparable selling
prices resulting from an improved mix of sales and price
increases to mitigate the effect of higher raw material costs as
well as foreign currency movement.  During the quarter, the
company successfully completed its previously announced
consolidation of the two United States plants into other
locations.  As a result of the plant closures and the company's
decision to exit certain lines of business with unacceptable
profit levels, volumes in those businesses were lower.
Additionally, the company began the reconfiguration of equipment
in its Benson, North Carolina plant to enable the production of
Spinlace(R) products in the fourth quarter which also resulted
in lower volumes as the prior product platforms were
discontinued.  Offsetting these impacts were higher volumes and
improved mix in the company's Asian operations as the plant in
Suzhou continued its ramp up during the quarter.  Volumes and
the mix of product sales in the Oriented Polymers segment
continue to remain depressed, primarily in Canada, due to poor
market conditions.

Gross profit increased US$4.5 million to US$39.7 million for the
third quarter, an increase of 12.9% over the prior year
comparable period.  Gross profit margin for the quarter also
improved to 15.5% of sales compared to a gross profit margin for
the third quarter of 2006 of 14.1%.  Significant contributors to
the company's profitability were the previously mentioned
improvement in profit mix and improvement in profitability at
the Mooresville, North Carolina and Suzhou, China locations,
which were operating at better rates compared to the prior year.
These improvements were partially offset by higher raw material
costs compared to the prior year.

The company reported an operating loss for the third quarter of
2007 of US$7.2 million primarily as a result of the recognition
of US$20.4 million of special charges resulting from the
previously announced plant consolidations and non-cash asset
impairment charges associated with certain Canadian operations
and the closure of its Neunkirchen, Germany site.  The after-tax
impact of the special charges was US$20.0 million, or US$1.03
per share.  SG&A was US$26.1 million during the quarter compared
to US$25.3 million for the third quarter of 2006.  As a percent
of sales, SG&A expenses were 10.2% in both periods.

Polymer Group reported a net loss for the third quarter of
US$20.9 million or US$1.08 per share compared to a net loss of
US$1.5 million, or US$0.08 per share, the prior year.

Polymer Group's chief executive officer, Veronica M. Hagen,
stated, "PGI continued to produce year-over-year improvement in
underlying performance.  Given the third quarter is seasonally
the company's weakest period, coupled with the impact of rising
raw material costs during the quarter, I am pleased with our
overall results and year-over-year growth."

For the nine months ended Sept. 29, 2007, sales were US$794.2
million, up US$36.5 million, or 4.8%, from the same period in
2006 driven primarily by volume increases in the Nonwovens
segment, the impact of passing through higher raw material
prices and favorable foreign currency translations.

The company's year-to-date gross profit was US$130.0 million
compared to US$114.8 million the prior year, an increase of
13.3%.  The gross profit margin for the first nine months was
16.4% compared to 15.1% the prior year as the company continued
to increase profitability through an improved profit mix and
better overall manufacturing costs.

Operating income in the first nine months of 2007 was US$17.4
million compared to US$13.0 million for the first nine months of
the previous year.  For the first nine months of 2007, the
company's operating income was negatively impacted by special
charges totaling US$30.2 million.  The after-tax impact of these
charges was US$29.8 million or US$1.54 per share.  For the first
nine months of 2006, operating income included US$16.7 million
of special charges, or US$14.0 million net of taxes, equal to
US$0.72 per share.  As a percent of sales, SG&A costs were 10.4%
compared to 11.0% for the first nine months of 2006.

The company recorded a net loss for the first nine months of
2007 of US$19.4 million or US$1.00 per share compared to a net
loss of US$15.7 million or US$0.81 per share for the same period
the prior year.

Adjusted EBITDA, a non-GAAP financial measure defined below, for
the third quarter was US$28.8 million, up 13.3% from US$25.4
million the prior year due to higher sales and improved profit
mix. For the first nine months, Adjusted EBITDA was US$92.6
million, up US$12.1 million, or 15.0% from US$80.5 million for
the first nine months of 2006.

Ms. Hagen stated, "The fundamentals of our business remain
strong.  The Nonwovens business continues to provide strong
underlying performance and we are successfully implementing our
key initiatives for 2007.  PGI completed the installation of our
new Spinlace(R) product capacity and start-up has initiated in
the fourth quarter.  The previously announced plant
consolidations were completed in the third quarter with both
plants closed and volume transitions underway.  The Suzhou,
China facility continues to improve its output and product mix,
and we continue to see success with the roll out of new product
platforms."

"Notwithstanding our expected improvement in top line results,
we expect the fourth quarter to be negatively impacted by
significant, rapid increases in our raw materials costs,
specifically polypropylene.  These cost increases are not
expected to be offset by sales price adjustments within the
fourth quarter due to the timing of price increases with our
customers under contract.  Although we expect an improvement in
operating profit in the fourth quarter over the third quarter
due to lower special charges, our gross profit is expected to be
relatively flat quarter-over-quarter."

"Despite the challenges in the fourth quarter, the company still
expects current strategic initiatives to produce strong growth
in 2008.  The line in Argentina is expected to begin start-up in
the first quarter of next year and the Spinlace(R) product
capacity expansion is expected to contribute significantly
during the year along with continued improvement in our Asian
operations.  The recently announced capacity expansion in Mexico
is expected to be complete in the second half of next year and
to begin ramping up in the fourth quarter.  We have organized
ourselves to capitalize on our global scope with the addition of
key global positions such as the role of chief operating officer
and vice presidents of global R&D and marketing.  As such, I am
encouraged by our strong fundamentals and capacity for growth
going forward," said Ms. Hagen.

                     About Polymer Group

Polymer Group, Inc., -- http://www.polymergroupinc.com/-- (OTC
Bulletin Board: POLGA/POLGB) develops, manufactures and markets
engineered materials.  The company operates 22 manufacturing
facilities in 10 countries throughout the world.  The company
has manufacturing offices in Argentina, China and France, among
others.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 9, 2007, Standard & Poor's Ratings Services said that its
'B-' corporate credit rating and other ratings on Intertape
Polymer Group Inc. remain on CreditWatch with negative
implications, following the company's recent announcement of a
proposed rights issue of up to US$90 million.


TENNECO AUTOMOTIVE: Moody's Holds B1 Corporate Family Rating
------------------------------------------------------------
Moody's Investors Service has affirmed the ratings of Tenneco
Automotive Inc. -- Corporate Family, B1. In a related action
Moody's assigned a B2 rating to Tenneco's new senior unsecured
note, and raised the rating on the remaining senior secured
second lien debt to Ba3.  The ratings were affirmed on the
first-lien senior secured credit facilities at Ba1, and on the
senior subordinated notes at B3.  The rating outlook was revised
to positive.

The new senior unsecured note will be used to finance Tenneco's
announced tender and consent of US$230 million of the
outstanding 10.25% senior secured second lien notes.  As part of
the consent, covenants within the 10.25% senior secured second
lien notes indenture will be amended to make them no more
restrictive than those that apply to Tenneco's senior
subordinated notes.  This amendment will provide the opportunity
for Tenneco to initiate an internal reorganization which will
better align the company's debt with its geographic cash
generation, and improve the tax efficiency of its inter-company
financing structure.  Modest interest savings will also be
achieved.

The affirmation of the B1 corporate family rating incorporates
Tenneco's progress in attaining growth and higher profits over
recent quarters through its emissions controls business, which
has resulted in generally improved credit metrics.  The
company's revenue diversity and product breadth should support
continued strong performance in the future.  These strengths are
balanced with increased working capital requirements to support
this growth; working capital needs have resulted in negative
free cash flow in the current year to date.  Moody's will look
for management to control working capital as growth continues in
2008.

With the redemption of a portion of the company's second lien
notes through the issuance of new senior unsecured debt,
Tenneco's capital structure will incorporate a greater element
of junior debt financing, which results in the upward revision
of the rating on the remaining senior secured second lien notes
under Moody's Loss Given Default Methodology.  The first lien
debt already receive maximum notching benefit under the
methodology and their rating is unaffected, although the LGD
assessment of 12% reflects the improved relative position in the
company's capital structure.

Tenneco's outlook change to positive reflects the improving
operating metrics over the past two quarters driven by the
strong growth in the emission control segment, combined with the
company's initiative of addressing its higher coupon debt and
tax structure inefficiencies.  These actions are expected to
improve the company's ability to use its geographic diversity to
reduce debt over the intermediate term.  Liquidity over the next
twelve months is expected to be good with availability of US$292
million under the US$550 million revolving credit and cash and
cash equivalents of US$203 million as of Sept. 30, 2007.

This rating was assigned:

   -- B2 (LGD4, 64%) rating to the new guaranteed senior
      unsecured notes due 2015

This rating was raised:

   -- Ba3 (LGD3, 32%) rating for the remaining 10.25%
      guaranteed senior secured second-lien notes due 2013

These ratings were affirmed:

   -- B1 Corporate Family rating;

   -- B1 Probability of Default rating;

   -- Ba1 (LGD2, 12%) rating for the US$550.0 million first lien
      senior secured revolving credit facility;

   -- Ba1 (LGD2, 12%) rating for the US$150 million first lien
      senior secured term loan A;

   -- Ba1 (LGD2, 12%) rating for the US$130 million first lien
      senior secured term loan B;

   -- B3 (LGD6, 92%) rating for the 8.625% guaranteed senior
      subordinated notes due November 2014

The last rating action was on March 2, 2007 when the company's
Corporate Family Rating was affirmed.

Future events that have potential to drive Tenneco's ratings
higher include the continuing improvement in profit levels from
higher emission control revenues; and higher levels of free cash
flow over the intermediate term resulting in debt reduction.
Consideration for a higher rating could arise if any combination
of these factors were to lead to EBIT/Interest coverage being
sustained at over 2x or a reduction in leverage consistently
below 4x.

Future events that have potential to drive Tenneco's outlook or
ratings lower include meaningful declines in North American OEM
production; the inability to manage working capital usage
supporting increased emission control sales resulting in
continuing negative free cash flow; or deteriorating liquidity.
Consideration for a lower outlook or rating could arise if any
combination of these factors were to increase leverage over 5x
or result in EBIT/Interest coverage approaching 1.5x times.

Based in Lake Forest, Illinois, Tenneco Inc., (NYSE: TEN) --
http://www.tenneco.com/-- manufactures automotive ride and
emissions control products and systems for both the original
equipment market and aftermarket.  Brands include Monroe(R),
Walker(R), Gillet(TM) and Clevite(R) Elastomer brand names.
Among its products are Sensa-Trac(R) and Monroe Reflex(R) shocks
and struts, Rancho(R) shock absorbers, Walker(R) Quiet-Flow(R)
mufflers, Dynomax(R) performance exhaust products, and
Clevite(R)Elastomer noise, vibration and harshness control
components.

The company has operations in Argentina, Japan, and Germany.


TENNECO INC: Commences Sale of US$250 Million Senior Notes
----------------------------------------------------------
Tenneco Inc. has commenced an offering of US$250 million of
Senior Notes due 2015.  Tenneco plans to use the net proceeds of
the offering, together with cash on hand, to purchase up to
US$230 million of its outstanding US$475 million of 10-1/4
percent senior secured notes due 2013.  The offering is subject
to market and other conditions.

The notes will be general senior obligations of Tenneco and will
mature on Nov. 15, 2015, with interest payable semi-annually on
May 15 and November 15.  The notes will be guaranteed by each of
Tenneco's domestic restricted subsidiaries that also guarantee
Tenneco's senior credit facility. These guarantees will be
general senior obligations of the subsidiary guarantors.  The
notes and guarantees will not be secured by any assets of
Tenneco or the guarantors.

                        About Tenneco

Based in Lake Forest, Illinois, Tenneco Inc., (NYSE: TEN)
-- http://www.tenneco.com/-- manufactures automotive ride and
emissions control products and systems for both the original
equipment market and aftermarket.  Brands include Monroe(R),
Walker(R), Gillet(TM) and Clevite(R) Elastomer brand names.
Among its products are Sensa-Trac(R) and Monroe Reflex(R) shocks
and struts, Rancho(R) shock absorbers, Walker(R) Quiet-Flow(R)
mufflers, Dynomax(R) performance exhaust products, and
Clevite(R)Elastomer noise, vibration and harshness control
components.

The company has operations in Argentina, Japan, and Germany.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 17, 2007, Fitch Ratings has affirmed these ratings of
Tenneco, Inc:

  -- Issuer Default Rating at 'BB-';
  -- Senior secured revolver at 'BB+';
  -- Senior secured term loan A at 'BB+';
  -- Senior secured tranche B-1 LC/revolver 'BB+';
  -- Senior secured second lien notes 'BB';
  -- Senior subordinated notes at 'B'.

Fitch said the rating outlook remains positive.


TENNECO INC: Commences Tender Offer for 10-1/4% US$230-Mln Notes
----------------------------------------------------------------
Tenneco Inc. has commenced a cash tender offer for up to
US$230 million aggregate principal amount of 10-1/4% Senior
Secured Notes due 2013.

Tenneco is launching this tender offer and consent solicitation
as part of a transaction designed to reduce the company's
interest expense, extend the maturity of some of its debt and to
amend the indenture for the Notes to more closely align debt
covenants among the company's various tranches of notes.

The total consideration per US$1,000 principal amount of Notes
validly tendered and not withdrawn prior to 5:00 p.m., New York
City time, on Nov. 15, 2007, unless extended, will be calculated
based on the present value on the payment date of the sum of
US$1,051.25, the earliest redemption price for the Notes on
June 15, 2008, which is the earliest redemption date for the
Notes, plus interest payments through June 15, 2008, determined
using a discount factor equal to the yield on the price
determination date of the 5-1/8% U.S. Treasury Note due
June 30, 2008, plus a fixed spread of 50 basis points.

The price determination date will be 2:00 p.m., New York City
time, at least ten business days prior to the expiration date.
The payment date will be promptly after the expiration date.

The tender offer is scheduled to expire at midnight, New York
City time, on Nov. 30, 2007, unless extended.  Accrued and
unpaid interest to, the payment date will be paid on all Notes
tendered and accepted for payment.

The tender offer is for a maximum of US$230 million aggregate
principal amount of Notes.  In the event that the tender offer
is oversubscribed, tenders will be accepted on a pro rata basis.
Tenneco reserves the right, but is not obligated, to increase
the Maximum Tender Amount.

The total consideration includes a consent payment of US$30 per
US$1,000 principal amount of Notes.  Only Notes that are
tendered on or prior to the Consent Date and that are accepted
for payment will receive the Consent Payment.  The company is
soliciting consents to conform certain covenants in the
indenture governing the Notes to make them no more restrictive
than comparable provisions applicable to the company's 8.625%
Senior Subordinated Notes due 2014, including with respect to
the incurrence of indebtedness and the absence of limitation on
issuances and transfers of restricted subsidiary stock and to
make other minor or related modifications.

The tender offer is conditioned on the satisfaction or waiver
prior to the acceptance date of customary conditions, including:

   (i) Tenneco having received from the offer and sale of new
       indebtedness, on terms and conditions acceptable to it
       in its sole discretion, funds sufficient to consummate
       the offer; and

  (ii) the receipt of the requisite consents required to
       implement the proposed amendments to the indenture from
       holders of the senior secured notes.

Copies of the Offer to Purchase and Consent Solicitation
Statement of the company may be obtained by contacting Global
Bondholder Services Corporation, the information agent for the
offer, at (212) 430-3774 (collect) or (866) 873-5600 (U.S.
toll-free).

Banc of America Securities LLC and Citi are the dealer managers
and solicitation agents for the tender offer and consent
solicitation.  Additional information concerning the tender
offer and consent solicitation may be obtained by contacting
Banc of America Securities LLC, High Yield Special Products, at
(704) 388-4813 (collect) or (888) 292-0070 (U.S. toll-free) and
Citi at (212) 723-6106 (collect) or (800) 558-3745 (toll-free).

                     About Tenneco Inc.

Based in Lake Forest, Illinois, Tenneco Inc., (NYSE: TEN)
-- http://www.tenneco.com/-- manufactures automotive ride and
emissions control products and systems for both the original
equipment market and aftermarket.  Brands include Monroe(R),
Walker(R), Gillet(TM) and Clevite(R) Elastomer brand names.
Among its products are Sensa-Trac(R) and Monroe Reflex(R) shocks
and struts, Rancho(R) shock absorbers, Walker(R) Quiet-Flow(R)
mufflers, Dynomax(R) performance exhaust products, and
Clevite(R)Elastomer noise, vibration and harshness control
components.

The company has operations in Argentina, Japan, and Germany.


TENNECO INC: Fitch Rates New Senior Unsecured Notes at BB-
----------------------------------------------------------
Fitch Ratings assigned a rating of 'BB-' to Tenneco Inc.'s new
senior unsecured notes due 2015.  The new notes replace a
portion of TEN's existing US$475 million in 10.25% senior
secured second-lien notes for which TEN is tendering.  The
rating outlook is positive.

   -- Issuer Default Rating 'BB-';
   -- Senior secured bank facility 'BB+';
   -- Senior secured second lien notes 'BB';
   -- Senior subordinated notes 'B'.

TEN's new US$250 million senior unsecured notes will improve the
company's maturity profile, and contains covenants on a par with
the company's senior subordinated notes.  TEN is also adjusting
and removing certain covenants from the remaining senior secured
second-lien notes.  The refinancing also reduces the overall
amount of secured debt, which in conjunction with covenant
changes, provides TEN with additional operating flexibility.

In addition, the company projects interest savings of about
US$4 million.  The new notes are the obligation of TEN and
guaranteed by certain domestic subsidiaries.  Concurrent with
the offering of the new notes due 2015, TEN will initiate a
series of steps designed to better align the company's capital
structure with its assets and cash flow, while also providing
certain tax benefits.

TEN faces the same headwinds as other suppliers including
pricing pressures, high raw material costs, lower production
volumes from U.S.-based OEM's, exposure to slow-selling SUV
products and limited free cash flow.  However, TEN has offset
these challenges with increased revenue from new business wins,
manufacturing efficiencies, working capital management, and a
geographically diverse customer base compared with other North
American suppliers.  TEN's technology position and product
acceptance in the growing diesel emissions market augur well for
revenue performance over the near term.

The company's increasingly technology-driven product portfolio
and margin performance in a difficult industry environment
provide comfort that new business wins and revenue growth will
also produce longer-term earnings growth.  However, costs and
investments related to new product launches and growth
initiatives will limit free cash flow over the short term.  The
Positive Outlook is based on expectations of moderate, but
continuing de-leveraging over the intermediate term through
continued growth in operating earnings from a diversified global
customer base.  Concerns include total debt levels, industry
margin pressures, U.S. production volumes in an uncertain
economic environment, and stresses from second-tier and third-
tier suppliers.

TEN retains healthy liquidity, with US$203 million in cash and
marketable securities at Sept. 30, 2007.  In addition, TEN has
US$292 million of unused borrowing capacity available on its
US$680 million revolver.  The company also has a US$100 million
US securitization facility (of which US$94 million was
outstanding), and US$55 million outstanding under its
uncommitted European receivable facilities.

Based in Lake Forest, Illinois, Tenneco Inc., (NYSE: TEN) --
http://www.tenneco.com/-- manufactures automotive ride and
emissions control products and systems for both the original
equipment market and aftermarket.  Brands include Monroe(R),
Walker(R), Gillet(TM) and Clevite(R) Elastomer brand names.
Among its products are Sensa-Trac(R) and Monroe Reflex(R) shocks
and struts, Rancho(R) shock absorbers, Walker(R) Quiet-Flow(R)
mufflers, Dynomax(R) performance exhaust products, and
Clevite(R)Elastomer noise, vibration and harshness control
components.

The company has operations in Argentina, Japan, and Germany.


TENNECO INC: S&P Rates Proposed US$250MM Senior Notes at B+
-----------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B+' rating to
Tenneco Inc.'s proposed US$250 million senior unsecured notes
due 2015.  The rating is one notch below the corporate credit
rating, reflecting the unsecured nature of the proposed new
debt in Tenneco's capital structure, which consists mainly of
secured debt.  The company will use the proceeds to tender for
US$230 million of its 10.25% secured second-lien notes due 2013.

At the same time, because the tender will substantially reduce
the outstanding principal on the 10.25% senior secured notes,
S&P raised the ratings on that issue to 'BB' from 'BB-', and
revised the recovery rating to '2' from '4', reflecting the
expected improvement in recovery resulting from the pending
reduction in outstanding principal.  S&P also affirmed the 'BB-'
corporate credit rating and stable outlook and withdrew the
short-term rating of 'B-1'.

"The ratings on Tenneco reflect a weak business profile and
aggressive financial profile," said Standard & Poor's credit
analyst Lawrence Orlowski.  Although 2007 free cash flow
generation will likely be negative, S&P do not view this as a
trend.  Tenneco's credit measures have been stable.  The company
benefits from good diversity among its customers, business
platforms, and regions of operation.  However, Tenneco is still
exposed to the risks of declining vehicle production by its
largest customers, General Motors Corp. and Ford Motor Co.

The outlook is stable.  Revenue growth was solid in the third
quarter of 2007 because of new business launches, but investment
to support this growth contributed to negative free cash flow.
Still, S&P expect credit measures to remain consistent with the
rating despite industry conditions that include production cuts
by some customers and raw-material price pressures.  In the
longer term, S&P could revise the outlook to positive if
industry conditions stabilize and the company uses free cash
flow to reduce debt.  Alternatively, S&P could revise the
outlook to negative if severe industry challenges cause cash
flow to remain negative.

Based in Lake Forest, Illinois, Tenneco Inc., (NYSE: TEN) --
http://www.tenneco.com/-- manufactures automotive ride and
emissions control products and systems for both the original
equipment market and aftermarket.  Brands include Monroe(R),
Walker(R), Gillet(TM) and Clevite(R) Elastomer brand names.
Among its products are Sensa-Trac(R) and Monroe Reflex(R) shocks
and struts, Rancho(R) shock absorbers, Walker(R) Quiet-Flow(R)
mufflers, Dynomax(R) performance exhaust products, and
Clevite(R)Elastomer noise, vibration and harshness control
components.

The company has operations in Argentina, Japan, and Germany.


* ARGENTINA: Uruguay Delays Botnia Mill Opening for a Week
----------------------------------------------------------
A pulp mill owned by the Oy Metsa-Botnia AB consortium, which is
made up of a group of Finnish investors,located at the river
bordering Uruguay and Argentina, has gotten regulatory approval
from the Uruguayan Environment Minister Mariano Arana to start
operating after the Ibero-Summit in Chile is concluded, various
reports say.

The US$1.2 billion mill is expected to create 600 jobs and boost
Uruguay's exports by 15%, the Associated Press says.  Reuters
adds that the mill's output is projected at 3,000 tons of pulp
per day.

The mill, the biggest-ever project in Uruguay's history, has
been the subject of a two-year dispute between the neighboring
countries.  The Argentine government and environmental groups
are protesting the mill's alleged adverse effect on marine life
at their river border.  Uruguay argued that studies have
confirmed the safety of the river habitat and measures have been
taken to ensure that the mill won't pollute the river.

Argentina also claims Uruguay violated the 1975 Statute of the
River Uruguay, which states that all issues concerning the river
must be agreed upon by the two nations.  The matter has been
brought to the International Court of Justice at The Hague.  A
preliminary ruling was issued in favor of Uruguay, resulting to
the completion of the mill's construction.

Analysts quoted by Prensa Latina are all in agreement that this
latest development will provoke another series of protests from
Argentina.

                      Spain's Mediation

King Carlos of Spain has been facilitating a mediation talk
between Argentina and Uruguay.  A conciliatory talk during the
Ibero summit, attended by the Spanish sovereign in Chile this
week, is expected to produce positive results.

The mill has been ready to start operations since October but
postponed the launching in consideration of Argentina's
elections.  The additional week-long delay is in response to a
request from Spain's monarch, Merco Press says, citing Uruguay's
environment minister.

The Buenos Aires Herald applauds Uruguay's decision to postpone
the mill's operations until after the conference.  The report
suggests that Uruguay can use the delay as an opportunity to
make Spain look good, and to afford Argentina a face-saving
formula of joint monitoring.

                        *     *     *

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 E R M U D A
=============


AAF HOLDINGS: Proofs of Claim Filing Deadline Is Nov. 20
--------------------------------------------------------
AAF Holdings Limited's creditors are given until Nov. 20, 2007,
to prove their claims to Chan Sek Kwan Rays, 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.

AAF Holdings' shareholder agreed on Oct. 31, 2007, to place the
company into voluntary liquidation under Bermuda's Companies Act
1981.

The liquidator can be reached at:

         Chan Sek Kwan Rays
         Units E&F
         12.F, Seabright Plaza
         9-23 Shell Street, North Point
         Hong Kong




=============
B O L I V I A
=============


COEUR D'ALENE: Earns US$3.6 Million in Third Quarter of 2007
------------------------------------------------------------
Coeur d'Alene Mines Corporation reported 2007 third quarter
revenue of US$52.9 million compared to US$50.6 million during
last year's third quarter.  Quarterly net income totaled US$3.6
million for the third quarter of 2007, compared to net income of
US$18.4 million for the third quarter of 2006. Included in the
third quarter results for 2007 are expenses of US$2.5 million
associated with the cessation of mining activities at the
Rochester mine during the third quarter.

In terms of production levels, Coeur produced 2.7 million ounces
of silver and 20,500 ounces of gold during the third quarter and
8.3 million ounces of silver and 70,500 ounces of gold through
the first nine months of the year.  Coeur produced 3.3 million
ounces of silver and 30,000 ounces of gold during the third
quarter of 2006 and 9.4 million ounces of silver and 84,500
ounces of gold during the first nine months of 2006.

In commenting on the Company's performance, Dennis E. Wheeler,
Chairman, President and Chief Executive Officer, said, "During
the recent quarter, we made substantial progress on all of the
company's strategic initiatives that we believe will result in
Coeur becoming the world's undisputed leader in silver.  The San
Bartolome silver mine in Bolivia, the world's largest pure
silver mine under construction, remains on schedule for a
February 2008 production start up.

"In Australia, both Broken Hill and Endeavor continue to deliver
improved results in 2007.  Cash costs remain consistently low
and we are nearing complete payback of our investments made just
2 years ago.  The company expects to continue receiving silver
production from Endeavor for at the least the next 15 years and
from Broken Hill for the next 7 years," Mr. Wheeler continued.

"The Bolnisi Gold NL and Palmarejo Silver and Gold Corporation
merger transaction is expected to close in mid-December
following the Coeur shareholder vote on December 3, 2007.
Construction is progressing at the Palmarejo project under
Coeur's management.  We believe the Palmarejo project is the
largest and highest quality silver-gold project currently under
development in the world today.  Once Palmarejo is in production
in 2009, Coeur expects to produce nearly 29 million ounces of
silver-a 142% increase over current levels-at industry-low cash
costs below US$1.75 per ounce-a 55% reduction from current
levels."

            Update on Strategic Growth Initiatives

Bolnisi and Palmarejo Transactions

On May 3, 2007, Coeur, Bolnisi Gold NL, and Palmarejo Silver and
Gold Corporation announced the companies had entered into
agreements to merge.  Coeur has commenced mailing of the proxy
materials to its shareholders, will hold a shareholder meeting
on Dec. 3, 2007, and expects to close these transactions in mid-
December.  The record date for this shareholder vote is
Oct. 19, 2007.  The Bolnisi and Palmarejo shareholder meetings
are scheduled to be held on Dec. 3.

The Palmarejo Project is expected to be the largest and highest
quality silver-gold project currently being built in the world
today.  The mine is expected to begin production in the first
quarter of 2009 at an average annual rate of production of 10.4
million ounces of silver and 115,000 ounces of gold, which will
nearly double Coeur's current production profile.  Once in
production, cash costs at Palmarejo are projected to average
negative US$0.41 per ounce of silver (after gold by-product
credits), which will result in a 55% reduction in Coeur's
companywide projected cash costs to an industry-low of US$1.75
per ounce of silver.  Capital costs to place the project into
production are estimated to be approximately US$200 million.

When combined with Coeur's production from its existing
operations and expected production from San Bartolome, the
combined companies expect to produce nearly 29 million ounces of
silver in 2009, making Coeur the largest primary silver producer
in the world.  The combined companies also expect to produce
approximately 200,000 ounces of gold, which will allow Coeur to
maintain its current revenue split between silver and gold of
two-thirds/one-third, respectively.  Compared with current
production levels, Coeur is anticipating increases of 142% and
65% in silver and gold production, respectively, between 2007
and 2009.

Palmarejo Silver and Gold and Bolnisi Gold announced substantial
mineral resource increases at the Palmarejo project during the
third quarter.  Mineral resources at the Guadalupe deposit,
located seven kilometers from the main Palmarejo project area,
more than doubled to 39 million ounces of silver (3.8 million
indicated ounces; 35.1 million inferred ounces) and nearly
400,000 ounces of gold (49,000 indicated ounces; 345,000
inferred ounces).

In total, the current Palmarejo mineral resource stands at 150
million ounces of silver resources (88.7 million measured and
indicated ounces; 61.4 million inferred ounces) and 1.7 million
ounces of gold resources (987,000 measured and indicated ounces;
719,000 inferred ounces).

Also during the third quarter, Coeur announced the appointment
of Stuart Mathews as Interim Project Manager for the Palmarejo
Project and he is expected to be named General Manager at
Palmarejo once the transaction is completed.  Mr. Mathews has a
Master's Degree in Geology from the University of Canterbury,
Christchurch, New Zealand, and has worked in a number of senior
geology, project development and management positions at major
mines and mining projects throughout Australia, New Zealand,
South America and Mexico.

San Bartolome Silver Project (Bolivia)

San Bartolome is expected to initially produce an annualized
rate of approximately 6 to 9 million ounces of silver per year,
which will increase Coeur's total silver production by
approximately 75% over current levels.  Construction activities
continue with over two million man-hours worked without a lost-
time accident.  Recent tax legislation has been passed by
Bolivia's House and is currently in the Senate, which would
result in a 50% effective tax rate.  Coeur considers this
proposed tax package to be acceptable and believes it would not
materially impact the project's existing financial metrics.

The Company is pleased to report that Rick Irvine has been
appointed General Manager for San Bartolome.  Mr. Irvine
recently joined Coeur and Empresa Minera Manquiri, Coeur's
Bolivian subsidiary, with 17 years of mining experience in
Canada, Argentina, Chile, Honduras, Nicaragua, as well as
Bolivia.  Mr. Irvine was most recently Operations Manager at the
Manantial Espejo development project in Argentina.  He was also
previously Vice President and Chief Operating Officer of Apogee
Minerals.

Kensington Gold Project (Alaska)

At Kensington, the mill and related surface facilities are now
100% complete, as is the nearly two-and-a-half mile underground
tunnel connecting the Kensington and the Jualin properties,
where the mill and processing facilities are located.
Contractors from Kake Tribal/Redpath Native Corporation joint
venture, along with Coeur Alaska, completed the final 6,800 feet
of tunneling over the past year.


The Company is continuing to review its options to resolve the
Kensington litigation relating to the tailings disposal facility
to enable the mine to proceed to production.  As announced by
the Mayor of Juneau, Bruce Botelho, the parties met in Juneau on
October 2nd and October 15th and plan to hold further meetings
next month.  In addition, the City and Borough of Juneau has
agreed to sponsor a third party facilitator to meet with the
parties to work toward a desirable outcome.

The Kensington Mine is expected to produce 150,000 ounces of
gold per year in its initial years at an estimated cash cost of
US$310 per ounce of gold, with an expected 10-15 year mine life
based on current mineral inventory.  The mine has 1.35 million
ounces of proven and probable gold mineral reserves.

On Oct. 18, Coeur announced the appointment of Tom Henderson as
General Manager for Coeur Alaska.  Mr. Henderson was Mine
Manager at Kensington for the past year and brings a total of
thirty years of mining operations experience to Coeur Alaska,
including management roles at the Grasberg Mine in Indonesia and
the Robinson Mine and Goldstrike mines in Nevada.

         Balance Sheet & Capital Investment Highlights

The Company had US$208.8 million in cash, equivalents and short
term investments as of Sept. 30, 2007.  Capital expenditures
during the third quarter of 2007 totaled US$57.3 million, most
of which was spent on the San Bartolome silver project.

Mr. Wheeler commented, "Our liquidity position remains very
strong, with US$209 million in cash, equivalents and short-term
investments.  Together with cash flow from operations, we expect
to complete the construction of the San Bartolome silver
project, the Palmarejo silver and gold project, and the
Kensington gold project without the need for additional outside
capital."

        3Q Production Highlights by Individual Property

Cerro Bayo (Chile)

Silver production increased 5% and gold production was
comparable to last year's third quarter; however, cash costs
during the third quarter were US$15.58 per ounce compared to
US$8.33 per ounce in the prior year's quarter.  Costs were
significantly higher due to increases in contract and outside
services, supplies, diesel, explosives, supervision and other
operating costs associated with the transition to bulk mining
methods.

Mr. Wheeler commented, "Clearly, we are disappointed with the
operating performance at Cerro Bayo.  We have made several
recent personnel changes that are expected to improve operating
performance.  Most importantly, we have hired Don Gray as the
new General Manager for Cerro Bayo.  Mr. Gray was most recently
Vice President and General Manager for Hecla at its La Camorra
operation in Venezuela.  Mr. Gray is a mining engineering
graduate of the University of Idaho with a Masters degree in
civil engineering from MIT.  He has 27 years of mining industry
experience, including 16 years with Hecla.  He has also worked
for Newmont, Exxon and Climax Molybdenum.

"In addition, we are conducting a full review of the mine
planning and scheduling processes.  We are also expanding the
exploration program to increase the number of higher-grade,
wider veins that will be mined going forward.  As previously
reported, these exploration efforts have already resulted in a
51% increase in Cerro Bayo's mineral reserves.  These reserve
additions represent higher-grade ounces that are located near
existing processing facilities, open in most directions, and are
already being incorporated in the operation's development and
mining plan."

Martha (Argentina)

Silver production was nearly 544,000 ounces in the third quarter
of 2007 compared to approximately 806,000 ounces in the third
quarter of 2006.  The decrease in silver production was
primarily due to a 35% decrease in silver ore grades.  This
reduction in grade contributed to higher cash costs per ounce in
the third quarter of US$8.33 per ounce compared to US$4.01 per
ounce in the third quarter of 2006.  Cash costs per ounce were
also impacted by increases in certain operating expenses,
including labor, royalties and export taxes.

Year-to-date, Martha has produced nearly 2.0 million ounces of
silver, which is comparable to the production levels achieved
during the first nine months of 2006.

Completion of a 240 tonnes per day, US$13.9 million stand-alone
mill at Martha is on schedule for a completion in December.  The
mill will support the Company's ongoing success in expanding the
mine's reserve and resource base and is expected to lower per
ounce cash costs.

Rochester (Nevada)

Mining operations ceased, as scheduled, during August as
Rochester entered its residual leaching phase, which is expected
to continue through 2011. During this phase, we expect to
experience continued low cash costs and generate substantial net
cash flow. As a result of this transition to processing-only
operations, cash costs declined 43% to US$0.65 per ounce of
silver, compared to US$1.14 per ounce in the previous year's
third quarter. Both silver and gold production were lower than
the previous year's third quarter due to this scheduled
transition.

Endeavor (Australia)

Silver production increased by 26% from the third quarter of
last year, with cash costs consistent at US$2.65 per ounce of
silver.  The mine continues to show production improvement since
last fall, as mine development accelerates into the fourth
quarter of 2007.  Year-to-date, silver production is up 51%
compared to the first nine months of 2006 to nearly 457,000
ounces.

Since acquiring the silver reserves and production from the
Endeavor mine in May of 2005, Coeur has recouped nearly 50% of
its initial investment from approximately 1.1 million payable
ounces of silver produced to date.  According to the terms of
the acquisition, Coeur will pay the remainder of the acquisition
price of approximately US$26.6 million, subject to certain
conditions and will be entitled to receive an additional 18.9
million payable silver ounces before reaching the agreed-upon
cap of 20.0 million payable ounces.  Coeur expects to continue
generating cash flow and silver production from Endeavor for at
least fifteen more years, making this transaction a high-return
investment for Coeur's shareholders.

Broken Hill (Australia)

Silver production was 427,000 ounces in the third quarter
compared to 587,000 ounces in the year-ago quarter.  Cash costs
of US$3.10 per ounce of silver were consistent with the year ago
period.  Broken Hill continues to steadily increase its
production rates each month since suffering a fatality on-site
in January, which caused the mine to be shut-down for
approximately six weeks as it reviewed its safety practices and
implemented safety training to all mine employees.

Since acquiring the silver reserves and production from the
historic Broken Hill mine in September of 2005, Coeur has
recouped over 75% of its initial investment from approximately
3.7 million payable ounces of silver produced to date.
According to the terms of the transaction, Coeur is entitled to
receive an additional 13.5 million ounces of silver production
before reaching the agreed upon cap of 17.2 million payable
ounces.  Based on current mining levels, Coeur expects to
continue generating cash flow from silver production from Broken
Hill for another seven years, producing a high return on
investment for Coeur's shareholders.

                Exploration Results Continuing at
                   South American Properties

Exploration results at the Company's aggressive drilling
programs at its Cerro Bayo and Martha Mines in southern Chile
and Argentina continued to return positive results in the third
quarter, a continuation of a exploration program that in the
first six months of the year have resulted in a 51% increase in
silver mineral reserves at Cerro Bay and a 25% increase in
silver mineral reserves at Martha through the first six months
of the year over last year's levels.

In addition to the positive drill results announced in September
at Cerro Bayo, drilling continues on the new Coigues Este area,
including two new veins, Dalila and Yasna, which brings the
total to five new veins now under exploration within
approximately one kilometer of the existing plant facilities.
Focus remains on the Dagny and Fabiola systems, plus new drill
holes on Dalila and Yasna with continued good results.

Drilling also began on a new target at Martha-the Isabel Oeste
vein.  This target is about one kilometer north of the Martha
mine, and southwest of the nearby Betty West structure
discovered last year.  So far on the new Isabel Oeste, the first
three drill holes intersected high-grade silver and gold in rock
types similar to the Martha mine.  Coeur's Martha mine staff is
currently planning a decline into the Betty West zone, and will
drive by the Isabel zone, which could be accessed by the Betty
West decline.

Drilling has also commenced at the Rochester mine at new high-
grade structures identified last quarter in the Rochester
deposit.  These structures extend below and between the
Rochester and Nevada Packard deposits.  In addition, at
Kensington in Alaska, drilling began recently on targets in the
Jualin area adjacent to the Kensington Mine.

Coeur d'Alene Mines Corp. (NYSE:CDE) (TSX:CDM) --
http://www.coeur.com/-- is the world's largest primary silver
producer, as well as a significant, low-cost producer of gold.
The company has mining interests in Nevada, Idaho, Alaska,
Argentina, Chile, Bolivia and Australia.

                        *     *     *

Coeur d'Alene Mines Corp.'s US$180 Million notes due
Jan. 15, 2024, carry Standard & Poor's B- rating.


FRESH DEL MONTE: S&P Puts 'BB-' Rating Under Positive Watch
-----------------------------------------------------------
Standard & Poor's Ratings Services placed its 'BB-' corporate
credit and other ratings on Cayman Islands-based Fresh Del Monte
Produce Inc. on CreditWatch with positive implications,
meaning that the ratings could be raised or affirmed following
the completion of S&P's review.  About US$359 million of total
debt was outstanding at Sept. 28, 2007.

The CreditWatch placement follows the company's announcement of
its proposed equity offering, net proceeds of which will be used
to repay debt outstanding under its credit facility, in addition
to continued strong operating performance year to date.  The
equity offering consists of 5 million of primary shares expected
to be issued by the company, and an additional 7 million shares
expected to be sold by IAT Group, an existing shareholder.  The
company will only receive proceeds from the primary offering,
which will be used for debt reduction.

For the nine months ended Sept. 28, 2007, Fresh Del Monte's
sales grew 1.6% due to higher banana and prepared food sales,
partially offset by lower other fresh produce sales as a result
of product rationalization.  Adjusted EBITDA more than doubled
because of cost saving and restructuring initiatives.  As a
result, credit measures have improved: for the 12 months ended
Sept. 28, 2007, lease- and pension-adjusted funds from
operations to debt was 42%, compared with 10% in the prior-year
period, and 6.5% at year-end 2006.  Adjusted total debt to
EBITDA was about 2x for the 12 months ended Sept. 28, 2007, an
improvement from 4.8x in the prior-year period and 5x at year-
end 2006.  Debt repayment from the equity offering will likely
further improve credit measures.

"We will review Fresh Del Monte's operating, strategic, and
financial plans before resolving the CreditWatch listing," said
Standard & Poor's credit analyst Alison Sullivan.

Based in the Cayman Islands, Fresh Del Monte Produce Inc. --
http://www.freshdelmonte.com/-- is one of the world's leading
vertically  integrated producers, marketers and distributors of
high-quality fresh and fresh-cut fruit and vegetables, as well
as a leading producer and distributor of prepared fruit and
vegetables, juices, beverages, snacks and desserts in Europe,
the Middle East and Africa.  Fresh Del Monte markets its
products worldwide under the Del Monte(R) brand, a symbol of
product quality, freshness and reliability since 1892.

Del Monte Fresh Produce Company has operations in Chile, Brazil,
France, Philippines, and Korea.


INTERMEC INC: Reports US$4.4 Mil. Net Income in 2007 Third Qtr.
---------------------------------------------------------------
Intermec reported 2007 third quarter revenues of US$206.0
million and net earnings from continuing operations of US$4.4
million compared to 2006 third quarter revenues of US$195.9
million and net earnings from continuing operations of US$3.4
million.  Including discontinued operations, net earnings for
the third quarter of 2007 was US$4.4 million compared to net
earnings of US$4.8 million in the prior year's third quarter.

As previously announced on July 19, 2007, Intermec Inc.'s Board
of Directors elected Patrick J. Byrne as President and CEO, and
as a Director of Intermec, Inc. Third quarter 2007 results
include senior management transition costs of US$3.1 million, or
US$0.03 per share.  The comparable quarter of 2006 included a
pension curtailment gain, which reduced selling, general and
administrative expenses by US$2.1 million, improving the diluted
earnings per share by US$0.02.

"We are encouraged by a significant increase in bookings and
international sales coupled with continued strong CN3 demand and
promising RFID momentum during the quarter," said Patrick J.
Byrne, President and CEO.

"Our focus going forward is to accelerate the Company's revenue
growth and gross margin expansion."

Third quarter 2007 revenues increased 5 percent compared to the
prior year's third quarter. Geographically during the third
quarter of 2007, North American revenues decreased 11 percent
compared to the third quarter of 2006.  Revenues in Europe, Mid-
East and Africa (EMEA) increased 44 percent compared to the same
prior-year period; while Asia Pacific (APAC) and Latin America,
increased 47 percent and decreased 20 percent, respectively.

The company's effective tax rate for the third quarter of 2007
was 16.2 percent; this rate includes benefits in the quarter
primarily as a result of certain changes in foreign and state
tax laws and for deferred taxes related to tax amortizable
goodwill.  The company's effective tax rate for the comparable
prior year's quarter was 37.2 percent.

The company's cash equivalents and short-term investments
increased US$25 million in the quarter, primarily as a result of
cash flows from operations.  The cash equivalents and short-term
investments position at the end of the third quarter totaled
US$214 million.

Revenues for the period are expected within a range of US$230
million to US$238 million.  Diluted EPS from continuing
operations are expected within a range of US$0.20 to US$0.25.

                    About Intermec Inc.

Intermec Inc. -- http://www.intermec.com/-- develops,
manufactures and integrates technologies that identify, track
and manage supply chain assets.  Core technologies include RFID,
mobile computing and data collection systems, bar code printers
and label media.

The company has locations in Australia, Bolivia, Brazil, China,
France, Hong Kong, Singapore and the United Kingdom.

                        *     *     *

Standard & Poor's Rating Services raised its ratings on Everett,
Washington-based Intermec Inc. to 'BB-' from 'B+'.  The upgrade
reflects expectations that Intermec will sustain current levels
of profitability and leverage.  S&P said the outlook is stable.


* BOLIVIA: Stable Economy Cues S&P To Revise Outlook to Stable
--------------------------------------------------------------
Standard & Poor's Ratings Services has revised its outlook on
the Republic of Bolivia to stable from negative.

S&P also said that it affirmed its 'B-' long-term and 'C' short-
term credit ratings on the sovereign.

"The stable outlook reflects Bolivia's track record of adherence
to stable macroeconomic policy and improvement in key economic
and vulnerability indicators," noted S&P's credit analyst Lisa
Schineller.  "Political noise is likely to remain high over the
coming months as the Constituent Assembly aims to conclude its
work, but we expect the policy outlook to remain unchanged.  The
focus should remain on a greater role of the state in the
economy amid macroeconomic policy implementation supportive of
economic stability."

The Bolivian economy is performing better than it has in many
years, apart from an acceleration of inflation, which reached
more than 11% in October (year-on-year).  Real GDP growth is
projected at 4% in 2007 and 2008, the government is running a
fiscal surplus, and the country has a current account surplus.
Strong fiscal revenue flows, coming from both high prices on
hydrocarbons and the increase in the tax burden on foreign
companies operating in the sector, have not fully translated
into to increased expenditure.  Projected general government
fiscal surpluses of 3.2% of GDP in 2007 and 2.5% in 2008 compare
with a record 4.7% of GDP surplus in 2006.

Robust exports and remittances put Bolivia's current account on
track for another double-digit surplus of close to 11% of GDP
this year.  They have also supported significant international
reserve accumulation; reserves reached more than US$4.8 billion
in October.  Coupled with significant official debt relief, this
puts Bolivia in a net external creditor position, compared with
net external debt that averaged over 100% of current account
receipts in 2003-2005.

Risks to Bolivia's economic outlook include weaker global
growth, possible domestic energy shortages next year, and the
inability to foster higher rates of private investment given
political uncertainty and new rules in the hydrocarbon and
mining sectors.

The ratings on Bolivia continue to be constrained by a
fragmented political landscape characterized by strong divisions
among regional, social, and ethnic lines.  Political tensions
are expected to remain high as the Constituent Assembly aims to
conclude its deliberations next month and present a draft
constitution.  Further delays in the Constituent Assembly
process cannot be discarded.  In any event, the most contentious
issues will likely be left for a national referendum in 2008,
which might also see early elections.

"Although political uncertainties will probably endure, we
expect that the Morales administration will maintain its
commitment to stable macroeconomic policies," Ms. Schineller
added.  "A reversal in such commitment would put downward
pressure on the ratings, as would signs that any reform to
the pension system would put payment of locally issued bonds at
risk.  The consolidation of a new political framework and signs
that somewhat less uncertainty attracts greater investment could
lead to positive momentum in the rating."




===========
B R A Z I L
===========


EL PASO: Reports US$36.1 Million Net Income for Third Quarter
-------------------------------------------------------------
These results has been released by El Paso Electric:

                           Overview

-- For the third quarter 2007, EE reported net income of US$36.1
   million, or US$0.79 basic and diluted earnings per share.  In
   the third quarter of 2006, EE had net income of US$27.1
   million, or US$0.57 and US$0.56 basic and diluted earnings
   per share, respectively.

-- For the nine months ended Sept. 30, 2007, EE reported net
   income of US$60.8 million, or US$1.33 and US$1.32 basic and
   diluted earnings per share, respectively.  Net income for the
   nine months ended Sept. 30, 2006 was US$51.6 million, or
   US$1.07 and US$1.06 basic and diluted earnings per share,
   respectively.

"The US$9.0 million increase in earnings in the third quarter of
2007 relative to the third quarter of 2006 was largely driven by
weather, as our base retail revenues in the quarter rebounded
from last year's levels, which were significantly suppressed by
record setting rains and inclement weather," said Ershel Redd,
President and Chief Executive Officer.  "Earnings were also
positively impacted in the quarter by capitalization of
financing costs associated with our significant infrastructure
investment program, by lower administrative and general expenses
and by repricing a portion of sales of power from Palo Verde
Unit 3, a repricing that will afford us an opportunity to
recover our cost of providing power from this unit.  We continue
to be challenged, however, by the increased costs of operating
the Palo Verde nuclear power station."

                        Third Quarter

Earnings for the quarter ended Sept. 30, 2007 when compared to
the same period last year were positively affected by:

-- A 6.6% increase in retail base revenues primarily due to a
   6.1% increase in retail kWh sales.  The kWh sales increase
   reflects a return to normal weather in 2007 after an
   unusually wet and mild summer in 2006.  KWh sales were also
   favorably impacted by a 2.4% increase in the average number
   of retail customers.

-- Decreased administrative and general expenses due to an
   increase in capitalized employee benefits, decreased workers
   compensation insurance expense, and a sales tax refund in
   2007.

-- An increase in the price of energy for Palo Verde Unit 3
   power sold to retail customers in New Mexico.  The New Mexico
   portion of Palo Verde Unit 3 is deregulated and the output
   sold to New Mexico retail customers is recovered as a
   purchased power cost through the New Mexico fuel adjustment
   clause.

-- Increased capitalized interest and allowance for funds used
   during construction in 2007 due to the re-application of SFAS
   No. 71 to Texas jurisdiction beginning Dec. 31, 2006 and
   increased construction work in progress and nuclear fuel
   subject to the allowance and capitalized interest in 2007.

-- Increased investment and interest income due to gains on the
   sale of securities held in the decommissioning trusts and
   interest earned on a Texas sales tax refund in 2007 with no
   comparable activity in 2006.

Earnings for the quarter ended Sept. 30, 2007, when compared to
the same period last year were negatively affected by:

-- Increased Palo Verde non-fuel O&M expenses in 2007 due to
   increased operating costs and Palo Verde Units 1 and 3
   maintenance costs.

-- Decreased off-system sales margins retained in 2007 due
   primarily to low market prices for power.

                          Year to Date

Earnings for the nine months ended Sept. 30, 2007, when compared
to the same period last year were positively affected by:

-- A 2.9% increase in retail base revenues in 2007 primarily due
   to a 2.8% increase in retail kWh sales.  KWh sales growth was
   primarily the result of a 2.5% increase in the average number
   of retail customers, as the weather-related revenue effects
   of each of the quarters tended to offset over the nine month
   period.

-- Decreased administrative and general expenses due to an
   increase in capitalized employee benefits, decreased workers
   compensation insurance expense, and a sales tax refund in
   2007.

-- An increase in the price of energy for Palo Verde Unit 3
   power sold to retail customers in New Mexico.  The New Mexico
   portion of Palo Verde Unit 3 is deregulated and the output
   sold to New Mexico retail customers is recovered as a
   purchased power cost through the New Mexico fuel adjustment
   clause.

-- Increased capitalized interest and allowance for funds used
   during construction in 2007 due to the re-application of SFAS
   No. 71 to Texas jurisdiction beginning Dec. 31, 2006, and
   increased construction work in progress and nuclear fuel
   subject to the allowance and capitalized interest in 2007.

-- Increased investment and interest income due to gains on the
   sale of securities held in the decommissioning trusts and
   interest income from the decommissioning trusts, and interest
   earned on a Texas sales tax refund in 2007 with no comparable
   activity in 2006.

-- Decreased O&M costs at the gas-fired generating plants due to
   a reduction in 2007 of unplanned and planned maintenance
   compared to  2006.

-- Increased off-system sales margins retained in 2007 due to
   increased MWh sales from greater availability from Palo Verde
   power in the first six months of 2007 partially offset by
   lower margins per MWh.

Earnings for the nine months ended Sept. 30, 2007, when compared
to the same period last year were negatively affected by:

-- Increased Palo Verde non-fuel O&M expenses in 2007 due to
   increased operations costs at all three units.

-- Decreased transmission wheeling revenues in 2007.

-- A reduction in income tax expense in 2006 to recognize the
   change in tax rates resulting from changes in the Texas
   franchise (income) tax law in May 2006 with no comparable
   change in tax law in 2007.  This adjustment was a non-cash
   change in the second quarter of 2006 affecting deferred
   income tax liabilities.

-- A fuel revenue adjustment recorded in 2006 based on a final
   order of the New Mexico Public Regulation Commission finding
   that the company could recover purchased power capacity cost
   through its New Mexico fuel adjustment clause with no
   comparable adjustment in 2007.

                    Key Earnings Drivers

Base revenues from retail electric customers, operations at Palo
Verde, and off-systems sales margins largely influence the
earnings.

                 Retail Non-fuel Base Revenues

Retail non-fuel base revenues increased by US$8.6 million, pre-
tax, or 6.6% in the third quarter of 2007 compared to the same
period in 2006 primarily due to increased kWh sales to
residential and small commercial and industrial customers.
Residential non-fuel base revenues increased by US$5.6 million,
pre-tax, or 10.2%, and small commercial and industrial revenues
increased US$3.2 million, pretax, or 7.1% in the third quarter
of 2007 compared to the same period in 2006.  KWh sales to
residential and small commercial and industrial customers
increased 11.1% and 5.6%, respectively, due to a return to
normal summer weather in 2007 after an unusually mild and wet
summer in 2006.  In addition, the average number of residential
customers increased 2.1% and the average number of small
commercial and industrial customers increased 6.2%.  Cooling
degree days in the third quarter of 2007 were 4% higher than the
10-year average and 23% higher than the third quarter of 2006.
Non-fuel base revenues from sales to public authorities
increased US$0.5 million or 2.8% and non-fuel base revenues from
large commercial and industrial customers decreased US$0.8
million or 7.3%.

Retail non-fuel base revenues for the nine months ended
Sept. 30, 2007, increased US$9.9 million, pre-tax, or 2.9%
largely due to a 2.5% increase in the average number of retail
customers served.  KWh sales to residential customers increased
5.6% in the nine-month period compared to the same period last
year largely as a result of a 2.3% increase in the average
number of residential customers served.  Colder winter weather
in the first quarter of 2007 also contributed to the increase in
sales.  Heating degree days increased 32% while cooling degree
days remained relatively unchanged for the nine-month period in
2007 compared to the same period last year.  Small commercial
and industrial non-fuel base revenues increased US$2.9 million
or 2.4% in the nine-month period ended Sept. 30, 2007 compared
to the same period in 2006 primarily due to a 1.5% increase in
kWh sales.  Other public authorities' non-fuel base revenues
increased US$0.8 million or 1.6% while large commercial and
industrial non-fuel base revenues decreased US$0.6 million or
2.1%.

                    Palo Verde Operations

Palo Verde operated at a capacity factor of 85.7% in the nine-
month period ended Sept. 30, 2007, compared to a capacity factor
of 69.0% in the nine-month period ended Sept. 30, 2006.
Generation at Palo Verde increased 24.3% in the nine months
ended Sept. 30, 2007, compared to the same period in 2006
primarily due to increased output from Palo Verde Unit 1.  Palo
Verde Unit 1 operated at a substantially reduced capacity factor
during the first quarter of 2006 and did not operate during the
second quarter of 2006 while repairs and modifications were made
to one of its shutdown cooling lines.  Palo Verde Unit 1 reached
full capacity on July 16, 2006.

Palo Verde operation and maintenance expenses increased US$4.7
million in the third quarter of 2007 compared to the third
quarter of 2006 and US$5.8 million for the nine months ended
Sept. 30, 2007, compared to the same period last year reflecting
increased operating costs primarily in response to an enhanced
inspection regimen imposed by the Nuclear Regulatory Commission.

For the quarter ended Sept. 30, 2007, retained margins from off-
system sales decreased approximately US$1.5 million, pre-tax,
over the corresponding period in 2006 due to lower market prices
for power.  As a result, the average retained margin per MWh
decreased US$6.18.  Also, in July 2007, El Paso began sharing
25% of New Mexico jurisdiction off-system sales margins with
customers pursuant to a rate settlement.

                   Capital and Liquidity

At Sept. 30, 2007, common stock equity comprised 47.9% of
permanent capitalization (common stock, long-term debt and the
current portion of long-term debt and financing obligations).

Cash flows from operations for the nine months ended Sept. 30,
2007 decreased to US$147.2 million from US$175.3 million in the
corresponding period in 2006 primarily due to reduced
collections of deferred fuel revenues in 2007.  In Texas, fuel
costs are recovered through a fixed fuel factor, which may be
adjusted twice a year.  In September 2007, El Paso completed the
recovery of US$53.6 million of fuel under-recoveries through a
fuel surcharge, which began in October 2005.  El Paso completed
the recovery in January 2007 of US$34 million of fuel under-
recoveries, including interest through the surcharge period,
through a fuel surcharge, which began in February 2006.  In the
nine-month periods ended Sept. 30, 2007, and Sept. 30, 2006, El
Paso collected US$22.9 million and US$43.1 million of deferred
fuel revenues in Texas through fuel surcharges, which increased
cash flow in those periods.  In the nine-month periods ended
Sept. 30, 2007, and Sept. 30, 2006, El Paso also under-collected
current fuel costs by US$12.9 million and US$1.5 million,
respectively.  At Sept. 30, 2007, El Paso had an under-recovered
fuel balance of US$22.7 million.  El Paso expects to seek
recovery of this balance by filing a request to institute a fuel
surcharge in January 2008, the next semi-annual period under
Texas regulation when El Paso can file for a fuel surcharge and
to change the fixed fuel recovery factor.

During the first nine months of 2007, the primary capital
requirements were for construction of electric utility plant,
nuclear fuel and the repurchase of common stock.  Capital
requirements for new electric plant were US$104.0 million for
the nine-month period ended Sept. 30, 2007, compared to US$65.5
for the nine month period ended Sept. 30, 2006.  El Paso
financed capital requirements for electric plant and common
stock repurchases with cash flows from operations.  At
Sept. 30, 2007, El Paso had a balance of US$34.9 million in cash
and temporary cash investments.

The capital requirements for nuclear fuel increased
substantially in 2007 as a result of increases in prices for
uranium concentrates and to increase inventory of nuclear fuel
feedstock.  El Paso finance its nuclear fuel inventory through a
trust that borrows under the US$200 million credit facility to
acquire and process the nuclear fuel.  In 2007, borrowings under
the credit facility for nuclear fuel increased US$40.5 million
to US$86.7 million as of Sept. 30, 2007, compared to an increase
of US$2.5 million in 2006 to US$44.4 million as of
Sept. 30, 2006.

During the first nine months of 2007, El Paso repurchased
1,344,338 shares of common stock at an aggregate cost of US$31.4
million including the repurchase of 755,238 shares of common
stock during the third quarter of 2007 at an aggregate cost of
US$17.4 million.  As of Sept. 30, 2007, no shares remain
available for repurchase under the currently authorized stock
repurchase program.

                    2007 Earnings Guidance

El Paso has revised its earnings guidance for 2007 to a range of
US$1.40 to US$1.60 per basic share from previous guidance of
US$1.25 to US$1.65 per basic share.  El Paso is providing
earnings guidance for 2008 of a range of US$1.60 to US$1.95 per
basic share.

                      About El Paso Corp.

Headquartered in Houston, Texas, El Paso Corporation (NYSE: EP)
-- http://www.elpaso.com/-- is an energy company that provides
natural gas and related energy products.  The company owns North
America's interstate pipeline system, which has approximately
55,500 miles of pipe.  It also owns approximately 470 billion
cubic feet of storage capacity and a liquefied natural gas
import facility with 806 million cubic feet of daily base load
send out capacity.  El Paso's exploration and production
business is focused on the exploration for and the acquisition,
development and production of natural gas, oil and natural gas
liquids in the United States, Brazil and Egypt.  It operates in
three business segments: Pipelines, Exploration and Production
and Marketing.  It also has a Power segment, which holds its
remaining interests in international power plants in Brazil,
Asia and Central America.

                        *     *     *

Moody's Investor Services placed El Paso Corporation's
probability default and long term corporate family ratings at
"Ba3" in March 2007, which still holds to date.  Moody's said
the outlook is positive.

As reported in the Troubled Company Reporter-Latin America on
June 15, 2007, Fitch Ratings affirmed the ratings of El Paso
Corporation and its core pipeline subsidiaries, and assigned a
senior unsecured rating of 'BB+' to the company's proposed
offering of US$1.275 billion of senior unsecured notes due in
2014 and 2017.  Fitch said the rating outlook is stable.


FERRO CORP: Initiates Next Step in European Restructuring
---------------------------------------------------------
Ferro Corporation has initiated the next step in the
restructuring of its European manufacturing operations.  As a
result of the new initiative, the Company will discontinue
manufacturing porcelain enamel frit at its facility in
Rotterdam, The Netherlands, by the summer of 2008 and will
consolidate production at other European sites.  Employment at
the Rotterdam location will be reduced by 84 positions.  Ferro
will work closely with customers to ensure a high level of
customer support through the transition.

The Company expects to record a pre-tax charge in the third
quarter ended Sept. 30, 2007, of approximately US$5.9 million
for severance benefits related to the action, pursuant to an
agreement reached with workers' representatives, and asset
impairment and other costs.  The charge is expected to reduce
diluted earnings per share in the 2007 third quarter by
approximately 10 cents.  Previously, Ferro had estimated third
quarter earnings would be 17 to 22 cents per share.

Ferro expects to record future severance costs, accelerated
depreciation and other costs related to this manufacturing
consolidation of approximately US$17 million through the third
quarter of 2008, in addition to the charges announced today.

The consolidation of frit manufacturing is part of Ferro's
ongoing effort to reduce annual costs in its European
manufacturing operations by US$40 million to US$50 million by
the end of 2009.

                     About Ferro Corp.

Headquartered in Cleveland, Ohio, Ferro Corporation (NYSE: FOE)
-- http://www.ferro.com/-- is a global producer of an array of
specialty chemicals including coatings, enamels, pigments,
plastic compounds, and specialty chemicals for use in industries
ranging from construction, pharmaceuticals and
telecommunications.  Ferro operates through the following five
primary business segments: Performance Coatings, Electronic
Materials, Color and Performance Glass Materials, Polymer
Additives, and Specialty Plastics.  Revenues were US$2 billion
for the FYE ended Dec. 31, 2006.

Ferro Corp. has global locations in Argentina, Australia,
Belgium, Brazil, China, among others.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 16, 2007, Moody's Investors Service assigned a B1 corporate
family rating to Ferro Corporation.  Moody's also assigned a B1
rating to the company's US$200 million senior secured notes
(issued as unsecured notes in 2001) due in January 2009 and an
SGL-3 speculative grade liquidity rating.


IWT TESORO: Court Approves Lowenstein Sandler as Panel's Counsel
----------------------------------------------------------------
The United States Bankruptcy Court for the Southern District of
New York gave the Official Committee of Unsecured Creditors in
IWT Tesoro Corporation and its debtor-affiliates' bankruptcy
cases, permission to retain Lowenstein Sandler PC as its
counsel.

As the Committee's counsel, Lowenstein Sandler is expect to:

   a. advise the Committee with respect to its duties and
      powers;

   b. assist the Committee in investigating the acts, conduct,
      assets, liabilities, and financial condition of the
      Debtors, the operation of the Debtors' business, potential
      claims, and any other matters relevant to the case or to
      the sale of assets or confirmation of a plan of
      reorganization or liquidation;

   c. assist the Committee in the formulation of a Plan;

   d. assist the Committee in requesting the appointment of a
      trustee or examiner should the action be deemed necessary;

   e. prepare necessary motions, applications, and other
      pleadings as may be appropriate and authorized by the
      Committee and appear in Court to prosecute pleadings; and

   f. perform other legal services as may be required and be in
      the interest of those represented by the Committee;

Lowenstein Sandler's professionals and their hourly rates are:

      Designation               Hourly Rate
      -----------               -----------
      Partner                  US$335-US$645
      Counsel                  US$265-US$425
      Associate                US$180-US$325
      Legal Assistant           US$75-US$175

John K. Sherwood, Esq., a member of the firm, assures the Court
that the firm does not hold any interest adverse to the Debtors'
estate and is a "disinterested person" as defined in Section
101(14) of the Bankruptcy Code.

Mr. Sherwood can be reached at:

      John K. Sherwood, Esq.
      Lowenstein Sandler PC
      1251 Avenue of the Americas, 18th Floor
      New York, New York 10020
      Tel: (212) 262-6700

I.W.T. Tesoro Corporation, fka Ponca Acquisition Company, --
http://www.iwttesoro.com/-- is headquartered in New York City.
The company and its subsidiaries distribute building materials,
specifically hard floor and wall coverings.  They are
wholesalers and do not sell directly to any end user.  Their
products consist of ceramic, porcelain and natural stone floor,
wall and decorative tile.  They import a majority of these
products from suppliers and manufacturers in Europe, South
America (Brazil), and the Near and Far East.  Their markets
include the United States and Canada.  They alsooffer private
label programs for branded retail sales customers, buying
groups, large homebuilders and home center store chains.

The Debtor and its debtor-affiliates, International Wholesale
Tile, Inc. and American Gres, Inc., filed for Chapter 11
bankruptcy protection on Sept. 6, 2007 (Bankr. S.D. NY Lead Case
No. 07-12841).  Dawn K. Arnold, Esq. and Jonathan S. Pasternak,
Esq. at Rattet, Pasternak & Gordon-Oliver, L.L.P. represent the
Debtors in their restructuring efforts.  The U.S. Trustee for
Region 2 has appointed an Official Committee of Unsecured
Creditors on this case.  As of June 30, 2007, the Debtors had
total assets of US$39,798,579 and total debts of US$47,940,983.


GENERAL MOTORS: October 2007 Sales Increased by 3%
--------------------------------------------------
General Motors Corp. dealers in the United States delivered
310,008 vehicles in October, 8,700 more vehicles when compared
with year-ago performance, outpacing an industry expected to
show a volume decline of about 4%.  For the third consecutive
month, on an unadjusted basis, total sales increased, with
October up 3%.  When adjusted for selling days, sales declined
1%.  It is anticipated that GM will see its fourth consecutive
month with market share above 24%.  Since August, market share
is up more than 1 point, to 25.1%, compared with the same three-
month period last year.

The month's 229,294 retail deliveries demonstrated solid
performance despite continuing industry softness.  Brisk retail
sales of full-size utilities, mid-utility crossovers, the
Cadillac CTS, and the Chevrolet Aveo, Cobalt and HHR led GM
retail sales.  The Saturn division showed yet another retail
sales increase, up 7%.

"Our strong market share performance and our ability to outpace
industry trends on volume demonstrates the consumer acceptance
of our new products," Mark LaNeve, GM North America vice
president, Vehicle Sales, Service and Marketing, said.  "Over
the past two years, our new products including the Chevrolet
Silverado, GMC Sierra, Cadillac CTS, full-size utilities, and
mid-crossovers have all gained retail share following launch.
Our committed dealer team has really stepped up to the plate,
pushing all of GM's brands above the industry average in the
recently released J.D. Power Customer Satisfaction Index."

Cadillac CTS total sales surged 75%, compared with year-ago
performance, due to the strength of the all-new CTS, now in
showrooms.  GMC Acadia, Saturn OUTLOOK and Buick Enclave
together had total sales of more than 12,800 vehicles, pushing a
more than 320% increase in GM's mid-crossover segment.
Additionally, Cadillac's SRX luxury crossover saw a total sales
increase of 37%.  Total sales of the fuel-efficient Chevrolet
Cobalt and Pontiac G5 were up 81%, Chevrolet Aveo was up 58% and
HHR was up 70% compared with last October.

Vehicles with retail sales increases, compared with year-ago
levels, include: Chevrolet Aveo, Cobalt, Tahoe, Suburban, and
HHR; Saturn ION; GMC Yukon and Yukon XL; Cadillac CTS and SRX;
Pontiac G5, Grand Prix and Vibe.

"Cadillac CTS and Buick Enclave have two of the fastest turn
rates in the industry," Mr. LaNeve added.  "And while it is
still very early, Malibu demand and customer feedback has been
sensational.  It's products like these that have enabled us to
buck recent industry trends."

                 Certified Used Vehicles Sales

October 2007 sales for all certified GM brands, including GM
Certified Used Vehicles, Cadillac Certified Pre-Owned Vehicles,
Saturn Certified Pre-Owned Vehicles, Saab Certified Pre-Owned
Vehicles, and HUMMER Certified Pre-Owned Vehicles, were 39,919
vehicles, down nearly 7% from last October.  Total year-to-date
certified GM sales are 442,110 vehicles, up 1% from the same
period last year.

GM Certified Used Vehicles, the industry's top-selling
manufacturer-certified used brand, posted 34,843 sales, down 6%
from last October.  Year-to-date sales for GM Certified Used
Vehicles are 388,442 vehicles, up 3% from the same period in
2006.

Cadillac Certified Pre-Owned Vehicles posted October sales of
3,255 vehicles, down 11% from last October.  Saturn Certified
Pre-Owned Vehicles sold 1,173 vehicles in October, down 9%.
Saab Certified Pre-Owned Vehicles sold 518 vehicles, down 13%,
and HUMMER Certified Pre-Owned Vehicles sold 130 vehicles, up
59%.

           GM North America October 2007 Production

In October, GM North America produced 423,000 vehicles (152,000
cars and 271,000 trucks).  This is down 5,000 units or 1%
compared to October 2006 when the region produced 428,000
vehicles (174,000 cars and 254,000 trucks).  (Production totals
include joint venture production of 18,000 vehicles in October
2007 and 19,000 vehicles in October 2006.)

Additionally, GM North America's 2007 fourth-quarter production
forecast is unchanged at 1 million vehicles (334,000 cars and
666,000 trucks).  In the fourth-quarter of 2006 the region
produced 1.107 million vehicles (446,000 cars and 661,000
trucks).

                    About General Motors

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. 23, 2007,
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating and other ratings on General Motors Corp. and
removed them from CreditWatch with positive implications, where
they were placed Sept. 26, 2007, following agreement on the new
labor contract.  The outlook is stable.


NRG ENERGY: Commences Offer To Purchase US$4.7 Billion of Notes
---------------------------------------------------------------
NRG Energy Inc., in connection with the previously-announced
implementation of a new holding company structure to facilitate
its capital allocation plan, has commenced conditional cash
offers to purchase any and all of its US$4.7 billion of
outstanding senior notes at 101% of the principal amount, plus
accrued interest, as required by the indentures for its 7.25%
senior notes due 2014, 7.375% senior notes due 2016 and 7.375%
senior notes due 2017.  In addition to these contractually
required offers, NRG announced a concurrent alternative
solicitation of consents that will provide each investor with an
opportunity to forgo its right to require NRG to make the offers
to purchase with respect to its Notes.

The cash tender offers are expressly conditioned on the
consummation of a merger to implement the holding company
structure, as contemplated by the merger agreement dated
Nov. 2, 2007, among NRG Energy, Inc. and two newly formed
subsidiaries, NRG Holdings, Inc. (Holdco) and NRG Merger Sub,
Inc. Upon consummation of the merger, NRG Energy, Inc. will
remain the issuer of the Notes and will become a wholly owned
subsidiary of Holdco.  In the event that the merger is not
consummated for any reason, NRG will be under no obligation to
consummate the tender offers (although NRG reserves the right to
accept tenders and purchase tendered Notes even if the merger is
not consummated).

The concurrent alternative consent solicitation for each series
of Notes is not conditioned on receipt of consents representing
a minimum percentage of outstanding Notes of any series.  Each
holder of Notes that consents to forgo the requirement for the
tender offer with respect to its Notes will receive a minimum
consent fee of US$1.25 in cash per US$1,000 principal amount of
Notes upon consummation of the merger, whether or not any other
holders of Notes elect to consent.  Furthermore, in the event
that holders of a majority in aggregate principal amount of a
particular series of Notes consent to forgo the tender offer,
consenting holders of Notes of that series will receive upon
consummation of the merger a consent fee per US$1,000 principal
amount of Notes equal to US$1.25 divided by the percentage of
Notes of that series which consented.  In the event that a
majority of consents for a particular series of Notes are
received, NRG will not be obligated to purchase any Notes of
that series (although it reserves the right to do so) and will
have the option to terminate the tender offer for that series of
Notes in its discretion.

Notes may either be tendered into a tender offer for a
particular series or may be consented, but not both.  Notes of
any series that are tendered into a tender offer will not be
eligible to receive the consent payment, even if consents
representing a majority in aggregate principal amount of that
series are received, thereby eliminating the requirement for the
tender offer with respect to all outstanding Notes of that
series.  In addition, Notes that are neither tendered nor
consented will not be eligible to receive the consent payment
under any circumstances.

In connection with the transaction, Bank of America has provided
NRG Energy, Inc. with a US$4.2 billion senior unsecured debt
financing commitment, subject to customary conditions, to fund
the tender offers together with a portion of NRG's cash on hand.
In addition, as previously disclosed, the Company entered into a
new US$1 billion senior credit facility at Holdco on
June 8, 2007, as part of NRG's refinancing transaction.  NRG
intends to fund the Holdco facility upon consummation of the
merger and pay the proceeds to NRG Energy, Inc. as an equity
contribution.  NRG will use the net proceeds for the prepayment
of a portion of its existing Term B loan, resulting in a
reduction in debt at NRG Energy, Inc. but no change to the
Company's consolidated debt levels.  Upon completion, the
restricted payments capacity under the indentures governing the
Notes will increase by an amount equal to the equity
contribution.  As previously announced, in light of the
company's projected earnings and cash flow profile, the company
plans to target an annual return of capital to shareholders,
consisting of both fixed (dividend) and variable (share
repurchase) components, of approximately 3% per annum.

The tender offers are being made pursuant to the provisions of
the indentures governing the Notes that require NRG to make an
offer to repurchase Notes at a price of 101% of the principal
amount thereof, plus accrued interest, upon a "Change of
Control," as defined therein.  The holding company merger, if
completed, will constitute a "Change of Control" under the
indentures governing the Notes.  Conducting the tender offers as
described above will fulfill NRG's obligation with respect to
the change of the control provisions of the indentures governing
the Notes.  NRG will not have any obligation to make any other
offer as a consequence of implementing the holding company
structure pursuant to the merger agreement.  However, NRG
reserves the right, whether or not the tender offers or the
consent solicitations are consummated, to acquire Notes from
time to time in the future through open market purchases,
privately negotiated purchases, redemptions, tender offers or
otherwise, upon such terms and at such prices as NRG in its sole
discretion may determine.

The tender offers and the consent solicitations will expire at
9:00 a.m., New York City time, on Tuesday, Dec. 4, 2007, unless
extended.  NRG reserves the right, but is not obligated, to
extend the tender offers and the consent solicitations.  Tenders
may be withdrawn and consents may be revoked at any time prior
to expiration.

The complete terms of the tender offers and