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/raid1/www/Hosts/bankrupt/TCRLA_Public/150828.mbx T R O U B L E D C O M P A N Y R E P O R T E R L A T I N A M E R I C A Friday, August 28, 2015, Vol. 16, No. 170 Headlines B R A Z I L PETROLEO BRASILEIRO: Among Borrowers Most at Risk as Real Sinks SUZANO PAPEL: S&P Raises CCR to 'BB+'; Outlook Stable C A Y M A N I S L A N D S CARRY LTD: Members' Final Meeting Set for Oct. 30 ENZIAN WACHSTUM: Shareholders Receive Wind-Up Report HAMALAJ CORP: Sole Member to Hear Wind-Up Report on Sept. 15 LATITUDE ZERO: Shareholders' Final Meeting Set for Aug. 31 PAC-LINK FUND: Shareholders Receive Wind-Up Report PASQUALE INVESTMENTS: Shareholders' Final Meeting Set for Aug. 31 RAINBOW BEACH: Sole Member to Hear Wind-Up Report on Sept. 15 RENEWABLE CO: Sole Member to Hear Wind-Up Report on Sept. 14 ROUND TABLE MASTER: Shareholders' Final Meeting Set for Sept. 22 TIMEPIECE CORPORATE: Creditors' Proofs of Debt Due Sept. 16 D O M I N I C A N R E P U B L I C FALCONBRIDGE DOMINICANA: Mining Sector "Unaware of Sale" DOMINICAN REPUBLIC: PRM Blasts Government for Overpriced Fuels M E X I C O MEXICO: Foreign Reserves Fall by $1 Billion P E R U PETROPERU: Protesters Call on Firm to Take Over Largest Oil Block P U E R T O R I C O INDUSTRIAS VASSALLO: Court Denies USIC's Reconsideration Bid SAMUEL MARTINEZ: Scotiabank Not Entitled to Postpetition Interest T R I N I D A D & T O B A G O TRINIDAD & TOBAGO: Global Stocks Recover; Country Vulnerable - - - - - =========== B R A Z I L =========== PETROLEO BRASILEIRO: Among Borrowers Most at Risk as Real Sinks --------------------------------------------------------------- Filipe Pacheco at Bloomberg News reports that Petroleo Brasileiro SA, the state-controlled oil producer with $55 billion of overseas bonds, is among the Brazilian companies most at risk of seeing leverage ratios swell as the real posts the world's biggest currency losses. For Petrobras, the electric utility known as Eletrobras, airline Gol Linhas Aereas Inteligentes SA and mall operator General Shopping Brasil SA, every 10 percent depreciation in the real boosts the companies' debt-to-earnings ratio by a factor of one, according to Fitch Ratings, Bloomberg News notes. Bloomberg News discloses that the companies, with a combined $60.1 billion of overseas bonds outstanding, are vulnerable to a falling real because they have high levels of foreign-currency debt while most of their sales are in the local tender, said Joe Bormann, a managing director for Latin America corporate finance at Fitch. The ratings company has Petrobras at the lowest level of investment grade, while the other companies are classified as junk, Bloomberg News relays. "Those are the names that we see as the most exposed to a depreciation of the real," Mr. Bormann said from Chicago, Bloomberg News notes. "The depreciation materially changes the amount of leverage that they have to a higher degree than a lot of their peers," Mr. Bormann added. Bloomberg News relays that the real has tumbled 25 percent this year, the worst performer among 16 major currencies tracked by Bloomberg, as President Dilma Rousseff struggles to sustain a coalition in Congress that can support her plan to cut spending and shore up fiscal accounts. Standard & Poor's lowered the outlook on Brazil's BBB- sovereign rating from stable to negative last month, while Moody's Investors Service cut the country's grade one notch on Aug. 11, Bloomberg News relays. While the four companies compose a group considered most at risk to currency swings, the Sao Paulo state water utility known as Sabesp is seen as a "medium-risk concern" on the same basis, Mr. Bormann said, Bloomberg News discloses. Bloomberg News notes that most Brazilian issuers haven't used derivative instruments to completely eliminate foreign-exchange risk because the country's 14.25 percent benchmark interest rate, the highest among the world's biggest economies, makes hedging expensive, Mr. Bormann said. Local policy makers have increased borrowing costs seven times since October to control above-target inflation, Bloomberg News relays. Petrobras's $2.5 billion in bonds due 2024 have dropped about 9 percent this year as top executives from the company were cited in a bribery scandal, a scandal that delayed the publication of its annual results and led to a change of its top management, Bloomberg News notes. Yields on the notes fell 0.35 percentage point Aug. 25 to to 8.36 percent as of 11:32 a.m. in New York, Bloomberg News relays. Perpetual bonds issued by Sao Paulo-based General Shopping totaling $250 million have plummeted 44 percent since December as rising unemployment and inflation running at 9.6 percent a year damped consumption, Bloomberg News notes. The notes now trade at about 50 cents on the dollar, Bloomberg News says. Rio de Janeiro-based Eletrobras's $1.75 billion of bonds due 2021 have tumbled 13 percent since December, while Gol's $325 million in notes due 2022 slumped 17 percent, Bloomberg News adds. * * * As reported in the Troubled Company Reporter-Latin America on Aug. 13, 2015, Moody's Investors Service affirmed all ratings for Petroleo Brasileiro S.A. (Petrobras) and ratings based on Petrobras' guarantee. This includes the affirmation of Petrobras' Ba2 senior unsecured debt rating. The company's b2 baseline credit assessment (BCA) is unchanged. The outlook is stable for Petrobras and its guaranteed debt. SUZANO PAPEL: S&P Raises CCR to 'BB+'; Outlook Stable ----------------------------------------------------- Standard & Poor's Ratings Services raised its ratings on Suzano Papel e Celulose S.A. (Suzano), including the global scale corporate credit rating to 'BB+' from 'BB'. The outlook is stable. S&P also revised its recovery rating on Suzano's issue- level rating to '3H' from '4H', indicating its expectation for meaningful recovery (50%-70%) of principal in the event of a payment default. The upgrade reflects Suzano's stronger capital structure and less leveraged balance sheet following the ramp-up of Suzano's 1.5 million ton pulp mill in Maranhao and the weaker Brazilian real (which depreciated 55% in the past 12 months). Those factors boosted EBITDA generation to R$3.3 billion in the 12 months ended June 2015 from R$1.9 billion in the year-earlier period. S&P's expectation is that the favorable environment for Brazilian exporters, including Suzano, will persist due to the strengthening of the dollar on the back of a stronger U.S. economy. Prices for Suzanos's pulp (bleached eucalyptus kraft, or BEKP) have remained fairly stable ranging between $730 and $750 per ton in the past three years (delivered in Europe). S&P believes these prices will remain in that range for the short term because scheduled global capacity additions would likely force inefficient producers to close or to switch to dissolving pulp mills (an alternative use for high-cost pulp mills). In light of these factors, S&P expects Suzano to continue benefitting from higher operating cash flows, which would allow it to keep its debt at reasonable levels. Despite Brazil's softening economy, S&P believes Suzano's paper and paperboard divisions will continue to perform well because the company benefits from substantial pricing power because domestic supply is relatively concentrated among few domestic players. Also, S&P don't expect competition from coated and uncoated paper imports to become a concern, because incentives for paper producers to increase capacity are rather low due to the abnormally high prices for softwood pulp, which is the main raw material. ========================== C A Y M A N I S L A N D S ========================== CARRY LTD: Members' Final Meeting Set for Oct. 30 ------------------------------------------------- The members of Carry Ltd. will hold their final meeting on Oct. 30, 2015, at 10:00 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidators are: Stuart Brankin Desmond Campbell c/o Aston Corporate Managers, Ltd. P.O. Box 1981 Grand Cayman Cayman Islands Telephone: (345) 949 5586 ENZIAN WACHSTUM: Shareholders Receive Wind-Up Report ---------------------------------------------------- The shareholders of Enzian Wachstum Aktiv received on Aug. 27, 2015, the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Doran + Minehane Crescent House, 4th Floor Hartstonge Street Limerick Ireland Telephone: 00353 61 413200 Facsimile: 00353 61 408613 HAMALAJ CORP: Sole Member to Hear Wind-Up Report on Sept. 15 ------------------------------------------------------------ The sole member of Hamalaj Corp. will hear on Sept. 15, 2015, at 10:00 a.m., the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Lion International Management Limited P.O. Box 71 Craigmuir Chambers Road Town, Tortola British Virgin Islands LATITUDE ZERO: Shareholders' Final Meeting Set for Aug. 31 ---------------------------------------------------------- The shareholders of Latitude Zero Investment Management Ltd. will hold their final meeting on Aug. 31, 2015, at 9:30 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Matthew Wright c/o Omar Grant Windward 1, Regatta Office Park P.O. Box 897 Grand Cayman KY1-1103 Cayman Islands Telephone: (345) 949 7576 Facsimile: (345) 949 8295 PAC-LINK FUND: Shareholders Receive Wind-Up Report -------------------------------------------------- The shareholders of Pac-Link Fund received on Aug. 25, 2015, the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Hsiao, Ming-Huei 5th Floor, No.3, Sec.3, Zhongxing Rd. Xindian Dist., New Taipei City 231 Taiwan (R.O.C.) PASQUALE INVESTMENTS: Shareholders' Final Meeting Set for Aug. 31 ----------------------------------------------------------------- The shareholders of Pasquale Investments Limited will hold their final meeting on Aug. 31, 2015, at 9:00 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Matthew Wright c/o Omar Grant Telephone: (345) 949 7576 Facsimile: (345) 949 8295 P.O. Box 897 Windward 1 Regatta Office Park Grand Cayman KY1-1103 Cayman Islands RAINBOW BEACH: Sole Member to Hear Wind-Up Report on Sept. 15 ------------------------------------------------------------- The sole member of Rainbow Beach Ltd. will hear on Sept. 15, 2015, at 10:00 a.m., the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Lion International Management Limited P.O. Box 71 Craigmuir Chambers Road Town, Tortola British Virgin Islands RENEWABLE CO: Sole Member to Hear Wind-Up Report on Sept. 14 ------------------------------------------------------------ The sole member of Renewable Co. Ltd. will hear on Sept. 14, 2015, at 11:00 a.m., the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Lion International Management Limited P.O. Box 71 Craigmuir Chambers Road Town, Tortola British Virgin Islands ROUND TABLE MASTER: Shareholders' Final Meeting Set for Sept. 22 ---------------------------------------------------------------- The shareholders of Round Table Interest Rate Master Fund, Ltd. will hold their final meeting on Sept. 22, 2015, at 11:00 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Highwater Limited c/o Nicole Gagliano Grand Pavilion Commercial Centre, 1st Floor 802 West Bay Road P.O. Box 31855, Grand Cayman, KY1-1207 Cayman Islands Telephone: (345) 943 2295 Facsimile: (345) 943 2294 TIMEPIECE CORPORATE: Creditors' Proofs of Debt Due Sept. 16 ----------------------------------------------------------- The creditors of Timepiece Corporate Holdings Ltd. are required to file their proofs of debt by Sept. 16, 2015, to be included in the company's dividend distribution. The company commenced liquidation proceedings on July 23, 2015. The company's liquidator is: Mufeed Rajab c/o Dominique Massias Telephone: (345) 949 5122 Facsimile: (345) 949 7920 P.O. Box 1111 Grand Cayman KY1-1102 Cayman Islands =================================== D O M I N I C A N R E P U B L I C =================================== FALCONBRIDGE DOMINICANA: Mining Sector "Unaware of Sale" --------------------------------------------------------- Dominican Today reports that the president of the Dominican Chamber of the Mining and Petroleum sector (Camipe), Jose Sena, said that they were unaware of the sale of 100% of the shares of Glencore Canada Corporation (ANL) in Falconbridge Dominicana (Falcondo) to the Americano Nickel Limited investment fund, adding that they found out about it via the media. Mr. Sena clarified, however, that this sale is a normal operation, because mining is a raw material, cyclical business where companies "are fed by capital that could come from the stock exchanges, investment funds and shareholders," according to Dominican Today. In terms of oil exploration, Mr. Sena called on the public authorities and private companies to observe Law 146 on Mining, and recalled that the country is free of oil exploration concessions because they have all expired, the report notes. * * * As reported in the Troubled Company Reporter-Latin America on Dec. 16, 2008, Dominican Today said that Toronto-based Xstrata Nickel recently laid off about 70% of its workers at Falconbridge Dominicana. The Dominican government said it will find jobs for most of the workers laid off, The Dominican Today reports. President Fernandez, the report related, said about 90 workers could qualify for early retirement. DOMINICAN REPUBLIC: PRM Blasts Government for Overpriced Fuels -------------------------------------------------------------- Dominican Today reports that the opposition PRM's National Economic Secretary, Arturo Martinez Moya, accused the government of charging consumers an extra RD$1 billion weekly for fuels. The report notes that Mr. Moya said despite the fact that crude oil and derivatives used in the country are at the same international pricing levels as in the last week of 2008, the government expects the public to pay RD$213.50 per gallon of premium gasoline, or an extra 81.24%, RD$196.00 for regular gasoline, overpriced by 81.48%, RD$152.90 for premium diesel, 40.28% overpriced, RD$144.50 for regular diesel, 43.07% more, and RD$77.20 per gallon of LPG, overpriced by 54.40%. Mr. Moya stated that the government is charging the consumer an extra RD$96.00 for premium gasoline, RD$88.00 for regular, and RD$ 28.00 for Liquid Petroleum Gas, the report notes. Mr. Moya, an economist, was speaking during a press conference on Aug. 25 accompanied by the party's presidential candidate Luis Abinader and leading PRM figures. Mr. Moya stated that the PLD government could not explain why it was overcharging the public for fuels by over one billion pesos each week, the report discoses. "This overpricing of all fuels reduces wages for workers, increases the cost of living and increases poverty", Mr. Moya concluded, the report adds. =========== M E X I C O =========== MEXICO: Foreign Reserves Fall by $1 Billion ------------------------------------------- EFE News reports that Mexico's foreign reserves declined by $1.01 billion to $187.33 billion last week, the Bank of Mexico said. Gold and foreign currency reserves fell in the week ending Aug. 21 mainly due to the daily auctions of dollars without a minimum price, the central bank said, according to EFE News. The report notes that foreign reserves have fallen by $5.9 billion since the end of 2014, the Bank of Mexico said in a statement. The M1 money supply, which includes currency, coins and demand deposits, fell by MXN8.61 billion (about $503 million) to MXN1.07 trillion (some $62.57 billion) last week, the central bank said, the report relays. The money supply has increased by 9 billion pesos ($526 billion) since Jan. 1, the report adds. ======= P E R U ======= PETROPERU: Protesters Call on Firm to Take Over Largest Oil Block ----------------------------------------------------------------- EFE News reports that authorities, labor unions and indigenous organizations in the northern Peruvian region of Loreto staged a 24-hour strike to demand that state-owned oil firm PetroPeru take over operation of the country's largest oil block, which was awarded to Canada's Pacific Stratus Energy. Loreto Gov. Fernando Melendez said the population showed its "patriotic conviction" by halting activities because it "understands that its economy is at risk," according to EFE News. The report notes that stores, schools and public transportation were paralyzed Aug. 25 in Loreto's capital, Iquitos, and some demonstrators even clashed with police near the airport and on access roads. Interior Minister Jose Luis Perez Guadalupe said several arrests were made during the protest but that police had brought the situation in Iquitos under control, the report relates. The regional government, the CGT labor federation, a group known as the Patriotic Front for the Defense of Loreto and at least four indigenous federations backed the protest, the report notes. In an interview with RPP Noticias, Mr. Melendez criticized the government for awarding Pacific a two-year contract for operating Lot 192 without taking into account the environmental damage caused by 45 years of oil production in that area, the report says. The report notes that the block had been developed since 2001 by Argentine oil company Pluspetrol, accused by indigenous communities of polluting the area. With that firm's contract expiring at month's end and an international bidding process failing to attract interest, the Peruvian government directly awarded the block to Pacific, the report relays. But the governor predicted that the block's output will fall and adversely affect the regional economy, the report notes. Mr. Melendez said indigenous peoples in Loreto want investment guarantees covering a span of 30 years and reject the short-term deal with Pacific as "irresponsible," the report discloses The block, located near Peru's border with Ecuador, yields around 11,000 barrels of crude from 16 wells and accounts for 17 percent of the country's total oil production, the report says. PetroPeru, for its part, issued a statement saying that it lacks the technical conditions and economic resources to operate Lot 192, the report adds. ====================== P U E R T O R I C O ====================== INDUSTRIAS VASSALLO: Court Denies USIC's Reconsideration Bid ------------------------------------------------------------ Judge Brian K. Tester of the United States Bankruptcy Court for the District of Puerto Rico denied the motion for reconsideration filed by United Surety & Indemnity Company. On January 8, 2010, USIC filed a Motion Requesting Intervention into Industrias Vassallo, Inc.'s adversary proceeding against the Puerto Rico Electric Power Authority. The court granted USIC's motion on January 26, 2010. On May 22, 2015, Vassallo filed its motion requesting the voluntary dismissal of its amended complaint against PREPA. On the same date, USIC filed an amended complaint in intervention against PREPA, but was denied by the court due to Vassallo's request for voluntary dismissal of the adversary proceeding. On June 4, 2015, USIC filed a motion for reconsideration of the order denying its amended complaint in intervention. Judge Tester held that the bankruptcy court is not the correct forum for a proceeding between two non-debtor parties which does not affect the bankruptcy estate. Judge Tester found that the bankruptcy court lacks jurisdiction to entertain USIC's complaint in intervention, given the fact that Vassallo voluntarily dismissed its complaint against PREPA, along with the fact that USIC's complaint in intervention against PREPA does not pertain to Vassallo, nor would USIC's complaint in intervention have any conceivable effect on Vassallo's bankruptcy estate. The adversary proceeding is INDUSTRIAS VASSALLO, INC. Plaintiff, v. PUERTO RICO ELECTRIC POWER AUTHORITY, Defendant, ADVERSARY NO. 09-00258 BKT (Bankr. D.P.R.). The bankruptcy case is IN RE: INDUSTRIAS VASSALLO, INC., Chapter 11, Debtor, CASE NO. 08-07752 BKT (Bankr. D.P.R.). A full-text copy of Judge Tester's July 31, 2015 opinion and order is available at http://is.gd/PSKcY5from Leagle.com. SAMUEL MARTINEZ: Scotiabank Not Entitled to Postpetition Interest ----------------------------------------------------------------- Judge Edward A. Godoy of the United States Bankruptcy Court for the District of Puerto Rico denied Scotiabank's motion for reconsideration of the court's denial of its request for postpetition interest. On September 23, 2013, Scotiabank filed two secured claims in the debtor Samuel A. Figueroa Martinez's bankruptcy: one for the Caparra property in the amount of $65,178, the other for the Metropolis property in the amount of $148,854. Six days after the confirmation of the debtor's plan, Scotiabank filed a motion requesting payment of post-petition interest. After a hearing on April 17, 2015, the court denied the motion. On May 11, 2015, Scotiabank filed for reconsideration, arguing that the court erred by adopting the debtor's arguments and treating its motion as a request for administrative expenses pursuant to section 503(b) rather than as a request for post- petition interest. It further contended that the disclosure statement when compared to the proofs of claim show Scotiabank is over-secured, entitling Scotiabank to post-petition interest. Scotiabank also attempted to convert the original motion filed under section 506(b) into a motion based on the binding effect of the debtor's confirmed plan. Judge Godoy quickly dispensed with Scotiabank's first argument since it was clear from the record that the court did not rely on section 503(b) in making its ruling, but rather explicitly adopted the debtor's argument with regard to section 506(b), in which the debtor laid out the procedure Scotiabank should have followed. As to Scotiabank's second argument, Judge Godoy held that Scotiabank cannot establish that its claims are over-secured just by pointing to the disclosure statement and proofs of claims. The judge found that the record is unclear as to whether the values in the schedules were estimates or an accurate market value, and Scotiabank has not presented the necessary evidence to substantiate that those values are an accurate market value of the asset. Judge Godoy was likewise unpersuaded by Scotiabank's final argument in which it sought to rely on the binding effect of the confirmed plan. The judge explained that Scotiabank's allowed claim does not automatically include post-petition interest because no request for post-petition interest has been allowed by the court. The case is IN RE: SAMUEL A. FIGUEROA MARTINEZ, Debtor, Case No. 13-06862 (EAG) (Bankr. D.P.R.). A full-text copy of Judge Godoy's August 3, 2015 opinion and order is available at http://is.gd/DhxSJkfrom Leagle.com. ================================ T R I N I D A D & T O B A G O ================================ TRINIDAD & TOBAGO: Global Stocks Recover; Country Vulnerable ------------------------------------------------------------ Verne Burnett at Trinidad and Tobago Newsday reports that while the crash of global stock markets and the fall of global oil prices on Aug. 24 are not connected, Trinidad and Tobago remains vulnerable to this kinds of situations. This was the view expressed by Group Chief Executive Officer of JMMB Investments Trinidad and Tobago Limited, Ronald Carter, according to Trinidad and Tobago Newsday. On the implications which these developments have for this country, Mr. Carter said TT is more of a gas than an oil economy but there is a correlation between oil and gas, the report relates. Mr. Carter said what is happening in the oil market is separate from the stock market crash, the report notes. Mr. Carter said the fall in oil prices had to do with high US stockpiles and the conclusion of negotiations between the US and Iran, the report relays. Mr. Carter said the US' closing a deal with Iran signals that oil prices will increase since Iran once more becomes able to engage in international trade, the report discloses. Mr. Carter said the Iran factor is going to have a very big impact on the price of oil and this is what is pushing down the price of oil, the report notes. Mr. Carter added that where China fits in is that China is a big consumer of oil, the report relays. Should China slowdown, Carter said, that creates a scenario of increased US oil supplies and a deal with Iran, increases global oil supplies further, the report says. Mr. Carter explained that together with declining growth in China, the world's largest consumer, all of this translates into a much lower oil price, the report adds. *********** Monday's edition of the TCR-LA delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR-LA editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. Prices reported are not intended to reflect actual trades. Prices for actual trades are probably different. Our objective is to share information, not make markets in publicly traded securities. Nothing in the TCR-LA constitutes an offer or solicitation to buy or sell any security of any kind. It is likely that some entity affiliated with a TCR-LA editor holds some position in the issuers' public debt and equity securities about which we report. Tuesday's edition of the TCR-LA features a list of companies with insolvent balance sheets obtained by our editors based on the latest balance sheets publicly available a day prior to publication. At first glance, this list may look like the definitive compilation of stocks that are ideal to sell short. Don't be fooled. Assets, for example, reported at historical cost net of depreciation may understate the true value of a firm's assets. A company may establish reserves on its balance sheet for liabilities that may never materialize. The prices at which equity securities trade in public market are determined by more than a balance sheet solvency test. Submissions about insolvency-related conferences are encouraged. Send announcements to conferences@bankrupt.com *********** S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter-Latin America is a daily newsletter co-published by Bankruptcy Creditors' Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA, Marites O. Claro, Joy A. Agravante, Rousel Elaine T. Fernandez, Valerie U. Pascual, Julie Anne L. Toledo, and Peter A. Chapman, Editors. Copyright 2015. All rights reserved. ISSN 1529-2746. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The TCR Latin America subscription rate is US$775 per half-year, delivered via e-mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are US$25 each. For subscription information, contact Peter A. Chapman at 215-945-7000 or Nina Novak at 202-362-8552. * * * End of Transmission * * *