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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, April 3, 2018, Vol. 19, No. 65


                            Headlines



A R G E N T I N A

BANCO DE LA CIUDAD: Fitch Assigns B Long-Term IDR; Outlook Pos.


B R A Z I L

COMPANHIA ENERGETICA: S&P Alters Outlook to Pos. & Affirms 'B' CCR


C A Y M A N  I S L A N D S

GUANAY FINANCE: Fitch Affirms BB- Rating on 2013-1 Notes


C H I L E

LATAM AIRLINES: S&P Affirms 'BB-' Global Scale CCR, Outlook Stable


C O S T A   R I C A

COSTA RICO: Ruling Party Easily Wins Presidential Vote


D O M I N I C A N   R E P U B L I C

BANCO DE RESERVAS: Fitch Affirms BB- Support Rating Floor
DOMINICAN REPUBLIC: Congress Must Pass Political Parties Law


P U E R T O    R I C O

BENITEZ ALL ALUMINUM: Unsecureds to Recover 3% Under Proposed Plan
BREAST CANCER INSTITUTE: Taps C. Conde & Assoc. as Legal Counsel


T R I N I D A D  &  T O B A G O

TRINIDAD  &  TOBAGO: Gets Smallest Bang for The Buck, Says IDB


                            - - - - -


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A R G E N T I N A
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BANCO DE LA CIUDAD: Fitch Assigns B Long-Term IDR; Outlook Pos.
---------------------------------------------------------------
Fitch Ratings has assigned 'B' Foreign and Local Currency Long-
term Issuer Default Ratings (IDRs) to Banco de la Ciudad de Buenos
Aires (Banco Ciudad). The Rating Outlook is Positive. Fitch has
also assigned the bank a Viability Rating (VR) of 'b'.

KEY RATING DRIVERS
IDRS AND VR

Fitch believes Banco Ciudad's parent, the City of Buenos Aires
(CBA) (B/Positive) demonstrates adequate capacity and propensity
to provide extraordinary support to the bank, should it be needed.
Equalization of the bank's IDRs with those of its parent is
supported by CBA's legal guarantee of the bank's liabilities, its
full ownership stake, and the bank's integral role in government
operations such as tax collection and payment of city employee
salaries. However, Banco Ciudad's VR is the same as CBA's long-
term IDR, and therefore the bank's IDRs do not benefit from
external support at this rating level.

In Fitch's view, Banco Ciudad's capitalization ratios highly
influence its VR and represent a credit weakness. Despite a low
cash dividend pay-out, averaging approximately 8% of net income
over the last five years, the bank's asset growth has consistently
outpaced internal capital generation, placing steady pressure on
the bank's equity base. Fitch core capital declined to 12.6% of
risk weighted assets at year-end 2017 from 16.9% at year-end 2014.
Moreover, due to the bank's significant proportion of low risk-
weighted assets, its ratio of tangible assets to tangible common
equity was much lower at 8.4%, which compares unfavorably to its
domestic and international (emerging market banks with a VR in the
'b' category) peers. Fitch expects the negative capitalization
trend to continue as the bank projects continued strong balance
sheet growth in the near term.

The bank's ratings are also influenced by the Argentine operating
environment, characterized by an improving backdrop of economic
and regulatory policies after a decade of weak and volatile
performance. Fitch expects real economic growth to increase to
3.4% in 2018 from 2.8% in 2017, driven by private sector
investment. Conditions for banking sector growth are particularly
favorable as the country reports one of the lowest levels of bank
penetration in the region. It also benefits from reforms to
liberalize interest rate controls, remove compulsory lending
requirements and ease rules on branch openings.

In terms of risk appetite, Banco Ciudad demonstrates an adequate
risk framework and underwriting but exhibits some structural
vulnerability to shifts in interest rates. Despite a high
proportion of non-remunerated funding (approximately 55% of total
funding) the bank tolerates relatively high potential losses from
a hypothetical 100 basis point change in interest rates. During
2017, such potential loses according to this measure reached 15%
of regulatory capital. This is mitigated by the bank's growing
access to longer-term capital markets funding in local currency.

The bank enjoys some competitive advantages with respect to its
funding and liquidity. Deposit stability is favored by CBA's
guarantee of bank liabilities, as well as the bank's exclusive
relationship with the court system as depository bank for stable,
low-cost judicial deposits, which are funds in custody under court
order. The bank's ratio of loans to deposits was 84.5% at year-end
2017, comparing favorably to peers. The bank also reported
consolidated (foreign currency and local currency) liquidity
coverage in excess of 170% of expected 30-day net cash outflows.

Although not key drivers of its ratings given the distortionary
effect of inflation on these ratios relative to international
peers, the bank exhibits stable asset quality and adequate
profitability indicators. Impaired loans represented 1.5% of gross
loans at year-end 2017, compared to 1.6% the year prior, comparing
well with the banking sector average of 2.9%. However, loan
impairments would be materially healthier but for four corporate
credits comprising more than half of impairments. The bank's loan
book demonstrates geographic concentration, but borrower
concentration is moderate with the top 10 credit exposures
representing approximately 9.5% of total loans

In addition, Banco Ciudad's earnings are in line with its mid-
sized peers, reporting operating profitability of 3.5% of risk
weighted assets at year-end 2017. Notwithstanding its competitive
advantages, such as its exclusive role in providing services to
CBA and its lower cost of funds, Banco Ciudad's income from fees
and commissions tends to underperform the banking system average,
which is consistent with its character as a public sector
institution. It reported non-interest income averaging 17% of
gross revenues (less interest and fee expenses) from 2013-2017.
The bank's net interest margin averaged 11.6% of average earning
assets during the same five year period, a level more in line with
the system average.

SUPPORT RATING

Banco Ciudad's Support Rating (SR) of '4' reflects its full
ownership by CBA and CBA's legal guarantee of the bank's
obligations that link their creditworthiness.

RATING SENSITIVITIES
IDRS

Banco Ciudad's IDRs are sensitive to changes in the sovereign
rating, which represents a material constraint on the ratings of
its sole shareholder, the City of Buenos Aires.

VR
Banco Ciudad's VR could be negatively affected by a sustained
decline in Fitch Core Capital below 12.0% of risk weighted assets
due to asset growth or a deterioration of performance. A decline
in liquidity metrics could also pressure the bank's VR. Even in
the event of an upgrade of the bank's IDRs, upside potential for
the VR could be limited given Banco Ciudad's current
capitalization levels.

SUPPORT RATING

Banco Ciudad's SR could be affected by a change in Fitch's
assessment of its parent's ability or propensity to provide
support.

Fitch has assigned the following ratings:

Banco Ciudad
-- Long-Term Foreign and Local Currency IDRs 'B'; Outlook
    Positive;
-- Short-Term Foreign and Local Currency IDRs 'B';
-- Viability Rating 'b';
-- Support Rating '4'.


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B R A Z I L
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COMPANHIA ENERGETICA: S&P Alters Outlook to Pos. & Affirms 'B' CCR
------------------------------------------------------------------
S&P Global Ratings revised its outlook on Companhia Energetica de
Minas Gerais (Cemig) and on its operating subsidiaries, Cemig
Distribuicao S.A. (Cemig D) and Cemig Geracao e Transmissao S.A.
(Cemig GT) to positive from stable.

S&P said, "We also affirmed our 'B' global scale corporate credit
on all three entities. In addition, we raised our national scale
ratings on the companies to 'brBBB' from 'brBBB-'. The 'b' stand-
alone credit profile (SACP) remains unchanged.

"At the same time, we affirmed our 'B' issue-level ratings on
Cemig GT's senior unsecured notes. We rate them at the same level
as our corporate credit rating, given the issuance at the
operating level and that priority debt ratio is less than 50%.

"As we had expected, the company managed to refinance its maturing
debt with a series of transactions at the end of 2017, including a
capitalization. We now expect Cemig's credit metrics to gradually
improve over the next few years, given the positive effect of the
rate review for Cemig D. Nevertheless, in our view, a significant
debt reduction will depend on the group's asset sales program."

Cemig D is currently undergoing its fourth rate review process,
which should be concluded by May 2018. Preliminary figures
released by the regulator point to a 25.87% readjustment, which
incorporates not only higher energy costs in 2017 and an increase
in sectorial charges, but also remunerates for the more than R$5
billion of investments that the company did in its network since
2013. This should help improve the group's overall operating
performance and cash flows, but we believe a substantial debt
reduction would only come once the group manages to divest some of
its portfolio of assets. Last year, Cemig announced an R$8 billion
divestiture program, which includes its stakes in Light S.A. (not
rated) and in the Santo Antonio and Belo Monte hydro projects.
Nevertheless, S&P acknowledges that the timing of these sales is
uncertain because it depends on market conditions and investor
appetite.



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C A Y M A N  I S L A N D S
==========================


GUANAY FINANCE: Fitch Affirms BB- Rating on 2013-1 Notes
--------------------------------------------------------
Fitch Ratings has affirmed the rating of Guanay Finance Limited's
2013-1 notes at 'BB-'. The Rating Outlook has been revised to
Positive from Stable.

The rating action mirrors the recent Outlook revision for LATAM
Airlines Group S.A.'s (LATAM) Long-Term Issuer Default Rating
(IDR).

The transaction is backed by existing and future U.S. and Canadian
dollar-denominated ticket receivables originated by LATAM.
Receivables result from passenger and cargo sales booked under
IATA code 045 and purchased with a qualified credit, debit or
charge card in the U.S. and Canada. Fitch's rating addresses
timely payment of interest and principal on a quarterly basis.

KEY RATING DRIVERS

LATAM's Credit Quality: On March 23, 2018, Fitch affirmed LATAM's
IDR at 'B+' and revised the Rating Outlook to Positive from
Stable. The rating action encompasses LATAM's 2017 financial
performance (in line with expectations previously incorporated in
the ratings), and the Positive Outlook is supported by Fitch's
expectations that the improvement in the company's credit metrics
will continue during 2018.

Going-Concern Assessment (GCA): Fitch's GCA score for LATAM is
currently 'GC3'. The maximum rating uplift allowed by the GCA
score is two notches, but other factors (outlined below) resulted
in a one-notch rating uplift from LATAM's IDR.

Adequate Performance: On average since closing, collections
supported a maximum quarterly debt service coverage ratio (DSCR)
of close to 4x, in line with Fitch's expectations. Fitch's DSCR
considers maximum quarterly debt service for the life of the
transaction. Flows benefit from a strategically important and
strong securitized business line.

Future Flow Debt Size: As of 3Q 2017, Outstanding future flow debt
represented approximately 3.7% of LATAM's consolidated debt and
3.9% of unconsolidated debt (excluding TAM). These percentages are
low relative to LATAM's balance sheet and have been improving
since closing.

Moderate Diversion Risk: The transaction is exposed to potential
diversion risk despite structural protections. Cash flows could be
diverted from the transaction by rerouting sales through a
different IATA code or processing card payments in a different
jurisdiction. Moderate diversion risk limits uplift of the future
flow rating from the originator's IDR.

RATING SENSITIVITIES

The ratings on the notes are sensitive to LATAM's credit quality
and its ability to continue generating securitized flows,
specifically in a context of financial stress as reflected by the
GCA score. Other parameters held constant. Negative changes in
LATAM's IDR or GCA score could result in a rating downgrade while
positive changes could result in an upgrade.

The transaction rating is also sensitive to the performance of the
securitized business line. A material contraction in LATAM's North
American gateway business that negatively impacts DSCRs could lead
to a rating downgrade. A change in key ratings drivers of a
particular magnitude will not necessarily impact future flows
ratings by the same magnitude.



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C H I L E
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LATAM AIRLINES: S&P Affirms 'BB-' Global Scale CCR, Outlook Stable
------------------------------------------------------------------
S&P Global Ratings affirmed its 'BB-' global scale corporate
ratings, and 'clBBB' Chilean national scale corporate ratings on
Latam Airlines Group. S&P has also affirmed its 'B+' issue-level
ratings on Latam's 2020 and 2024 senior unsecured notes, and the
'clBBB-' Chilean national scale issue-level ratings on the local
bonds due 2022 and 2028. The outlook on the global scale corporate
credit ratings, and corporate and issue-level national scale
ratings remains stable.

S&P said, "We have also affirmed the 'BB-' global and 'brA+'
national scale corporate credit ratings on TAM S.A., with a stable
outlook. We then withdrew them at the issuer's request.

"The affirmation reflects the company's improving operational
performance, in line with our expectations, supported by improving
market conditions, especially in Brazil, Latam's largest domestic
market. This, combined with the company's fleet adjustment
strategy over the past few years, and efficient route management
strategy, has allowed for fast improving margins and cash
generation. We expect these conditions to persist over the next 12
to 24 months, making way for it to further strengthen its
financial metrics as it focuses on improving overall operating
efficiency, such as asset utilization and route networks. We do,
however, expect some potential volatility in margins and metrics
due to factors inherent to the airline business, such as fuel
costs and exchange rates. In addition, further volatility is
possible as Latam implements its new domestic business model,
which we believe will contribute to improving its cost
competitiveness in the long term.

"The stable outlook reflects our expectations that Latam will
maintain a conservative growth strategy, focusing on preserving
profitability, which should result in higher EBITDA generation and
stable margins that will support improvements in financial
metrics. However, the company remains exposed to some volatility
in market conditions, mainly associated with currency exchange
rates and some execution risk as it implements the new domestic
business model. Also, as market conditions improve, competition
can intensify and add some pressure on ticket prices over the
short term. Nonetheless, we expect Latam's revised domestic
business model to provide more flexibility and competitiveness to
the company against low cost carriers. Also, we expect Latam to
use its scale in the domestic markets and access to international
markets to boost its growth, and to continue to deleverage, with
debt to EBITDA of about 3.5x and FFO to debt of 20% by the end of
2018."


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C O S T A   R I C A
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COSTA RICO: Ruling Party Easily Wins Presidential Vote
------------------------------------------------------
Jose de Cordoba at The Wall Street Journal reports that Costa
Ricans flocked to the polls Sunday to give an upset landslide
victory to the ruling party, rejecting a conservative evangelical
candidate who campaigned against same-sex marriage.

Carlos Alvarado Quesada, a 38-year-old novelist who served as
labor minister in the current center-left administration of
President Luis Guillermo Solis, beat Fabricio Alvarado Munoz, 43,
a former preacher and psalm singer who seized on opposition to
same-sex marriage to vault to first place in the first round of
elections, according to The Wall Street Journal.  Mr. Alvarado
Munoz also led polls ahead of the runoff, the report notes. The
two candidates aren't related.

With 95% of the ballots counted, Mr. Alvarado Quesada was leading
with 61% of the vote, against 39% for Mr. Alvarado Munoz. Voter
participation was 67%, the report relays.

"I will unite the country to move it forward," Mr. Alvarado
Quesada said before a large and festive crowd.  He called for a
government of national unity to work to better education and
reduce inequalities in the Central American country, the report
relays.

In his earlier concession speech, Mr. Alvarado Munoz thanked God
and said he would keep fighting to defend "life, family, ethics
and the independence of Costa Rica," the report notes.  He also
pledged to help his opponent combat corruption, crime and
inefficiency, the report says.

"Democracy won today," Mr. Alvarado Munoz added.

Mr. Alvarado Munoz, a legislator of his evangelical party in Costa
Rica's congress, leapt to first place in January's first electoral
round days after the Inter American Court of Human Rights, based
in the country's capital of San Jose, ruled that same-sex marriage
should be allowed in Costa Rica, the report relays.

Mr. Alvarado Munoz, who until then had about 3% support, strongly
opposed the court's decision, quickly becoming the front-runner.
He characterized the ruling as a case of a foreign institution
imposing its criteria over local traditions, the report discloses.
He warned that the court would legalize abortion next in Costa
Rica, the report says.

Mr. Alvarado Quesada was the only major presidential candidate to
strongly defend the court's ruling as a matter of defending
fundamental human rights, the report notes.

The court's decision polarized the electorate, immediately turning
the election into a one-issue poll. Opponents said Mr. Alvarado
Munoz would turn Costa Rica, one of the oldest democracies in
Latin America, into a theocracy and limit the rights of gay people
and other minorities, the report relays.

"People got scared and said, 'Not here,' and went out in droves to
vote," said Armando Gonzalez, editor in chief of La Nacion, Costa
Rica's largest newspaper, the report adds.

The vast majority of undecided voters had ultimately gone for Mr.
Alvarado Quesada when faced by what they believed to be the
radical choice presented by Mr. Alvarado Munoz, said Juan Carlos
Hidalgo, an analyst for Washington's Cato Institute, the report
relays.

"Costa Ricans are very conservative," he said.  "This represents
the continuation of the government of the last four years," he
added.

He said he hoped Mr. Alvarado Quesada would govern as a unity
president, and quickly take action to lower Costa Rica's high
fiscal deficits. "Urgent measures have to be taken," he added, the
report says.

As reported in the Troubled Company Reporter-Latin America on
Feb. 26, 2018, S&P Global Ratings affirmed on Feb. 21, 2018, its
'BB-' long-term foreign and local currency sovereign credit
ratings on the Republic of Costa Rica. The outlook remains
negative. At the same time, S&P affirmed its 'B' short-term
foreign and local currency sovereign credit ratings and its 'BB+'
transfer and convertibility assessment.



===================================
D O M I N I C A N   R E P U B L I C
===================================


BANCO DE RESERVAS: Fitch Affirms BB- Support Rating Floor
---------------------------------------------------------
Fitch Ratings has revised the Support Ratings (SR) of three Latin
American banks: Banco de Reservas de la Republica Dominicana,
Banco de Servicios Multiples (Banreservas), Banco del Bajio, S.A.
(BanBajio) and Banco Interamericano de Finanzas S.A. (Banbif) to
'3' from '4' and affirmed their Support Rating Floor (SRF) at 'BB-
'.

The revisions follow the finalization of the previously published
exposure draft with respect to Fitch's "Bank Rating Criteria",
which removed the ambiguity in the framework for SRs so that SRs
can only map to defined SRFs or institutional support-driven IDRs
(e.g. an SR of '1' can only give rise to an SRF of 'A-' or above;
an SR of '2' can only give rise to an SRF in the 'BBB' range; an
SR of '3' can only give rise to an SRF in the 'BB' range etc.).

The exposure draft was published on Dec. 12, 2017 and finalized on
March 23, 2018 following a comment period.

Banreservas, BanBajio and Banbif's ratings (Long-Term and Short-
Term Issuer Default Ratings [IDR], Viability Ratings, National
Scale Ratings and debt ratings) are otherwise unaffected by this
rating action. In addition, this action does not reflect a change
in Fitch's view of Banreservas, BanBajio and Banbif's fundamental
creditworthiness.

KEY RATING DRIVERS

Revision of the SRs reflects the defined relativity between SR and
SRF. In turn, affirmation of the 'BB-' SRFs reflects the banks'
systemic importance in their respective countries.

Banreservas' support ratings reflect its systemic importance. In
Fitch's opinion, while the Dominican Republic's propensity to
support the bank would be high, Fitch see only a moderate
probability of support given the sovereign's speculative-grade
IDRs. Banreservas' SRF is equal to the Dominican Republic
sovereign's LT IDR of 'BB-'. Banreservas is the country's largest
commercial bank, with a market share in loans and deposits of
around 31.1% and 30.0%, respectively, at February 2018. In
addition, it plays a significant role in collecting funds for the
government's single treasury account for the payment of debt
obligations, and is a major provider of domestic loans.

BanBajio's support ratings reflect the bank's moderate market
share of core customer deposits in the investment-grade Mexican
operating environment. BanBajio is one of the few mid-size banks
that Fitch believe has a moderate probability of sovereign support
if needed. This is supported by the bank's market share of
customer deposits, which is also widespread geographically, and
the sovereign's ability to do so. At end-2017 the bank was the
eighth largest bank in Mexico, with a market share in loans and
deposits of around 3.1% and 2.4%, respectively.

Banbif's support ratings reflect its mid-size franchise and lesser
systemic importance in the context of the investment-grade
Peruvian operating environment. As the fifth largest Peruvian
bank, Fitch believes there would be a moderate probability for
support from the government, should it be required, in light of
uncertainties as to the sovereign's propensity to do so. The bank
has a market share in loans and deposits of around 3.9% and 4.1%,
respectively, at February 2018.

RATING SENSITIVITIES

Banreservas' SR and SRF are potentially sensitive to any change in
assumptions as to the propensity or ability of the Dominican
government to provide timely support to the bank, which could
arise in the event of a sovereign rating action. Currently, the
Outlook on the Dominican Republic's LT Local and Foreign-Currency
IDRs is Stable.

Upside potential for BanBajio's and Banbif's SR and SRF is limited
and can only occur over time with a material gain in the bank's
systemic importance. These ratings could be downgraded if the
banks loses material market share in terms of retail customer
deposits.

Fitch has taken the following rating actions:

Banreservas
-- Support Rating revised to '3' from '4';
-- Support Rating Floor affirmed at 'BB-'.

BanBajio
-- Support Rating revised to '3' from '4';
-- Support Rating Floor affirmed at 'BB-'.

Banbif
-- Support Rating revised to '3' from '4';
-- Support Rating Floor affirmed at 'BB-'.


DOMINICAN REPUBLIC: Congress Must Pass Political Parties Law
------------------------------------------------------------
Dominican Today reports that the Herrera and Santo Domingo
Province Industrial Companies Association (AEIH) said a political
reform based on a law of parties and the updating of electoral
legislation are fundamental for the country's democratic and
institutional development.

AEIH president, Antonio Taveras Guzman said business leaders
shouldn't be oblivious to these changes, because in his view are
aspects that condition the business climate and the context in
which private initiatives are developed, according to Dominican
Today.

The report notes that Mr. Taveras, accompanied by AEIH senior
members, made the proposal during a visit from several leaders of
opposition parties, which also take part in meetings with other
business associations nationwide.

Among the political leaders present were Andres Bautista, of the
Partido Revolucionario Moderno (PRM), Max Puig, of Alliance for
Democracy; Minou Tavarez Mirabal, Democratic Option; Rafael
Gamundi Cordero, Partido Revolucionario Social Democratico (PRSD)
and Juan Ignacio Espaillat, from Frente Amplio, the report relays.

The report discloses that Mr. Taveras added that his organization
has participated in different debates over the proposed Political
Parties and Groups Law. He stressed Congress "should approve the
legal framework without further delay."

As reported in the Troubled Company Reporter-Latin America on
Nov. 20, 2017, Fitch Ratings has affirmed Dominican Republic's
Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BB-'
with a Stable Outlook.



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P U E R T O    R I C O
======================


BENITEZ ALL ALUMINUM: Unsecureds to Recover 3% Under Proposed Plan
------------------------------------------------------------------
Benitez All Aluminum Corp. filed with the U.S. Bankruptcy Court
for the District of Puerto Rico a disclosure statement for their
small business chapter 11 plan of reorganization.

The Debtor is a corporation organized under the laws of the
Commonwealth of Puerto Rico in 1998 and engaged in the
manufacturing, assembly and installation of aluminum and glass
products such as security windows, residential doors, garage doors
and hurricane shutters. The Debtor's business has been mostly
concentrated into the residential market for medium/ high-class
individual customers in Puerto Rico and the US Virgin Islands.

Class 2 under the plan consists of the general unsecured claims
which total $211,711. This class will be paid $105.86 monthly with
no interest. Estimated percentage of claim to be paid is 3%.

Total monthly payment proposed under the Plan is $4,192, including
$2,692 through a 48 months term in the case of priority tax debts,
$1,394 through in the case of secured debt as per contracts, and
$106 through a 60 months term in the case of general unsecured
debt, beginning 30 days after confirmation of plan.

Source of funds for payments under the plan is the collection of
revenues for the sale and installation of products.

A full-text copy of the Disclosure Statement is available at:

    http://bankrupt.com/misc/prb17-03239-11-84.pdf

              About Benitez All Aluminum Corp.

Benitez All Aluminum Corp. sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. D.P.R. Case No. 17-03239) on May 8,
2017.  Its president, Noel Benitez Carrasquillo, signed the
petition.

At the time of the filing, the Debtor estimated assets of less
than $50,000 and liabilities of less than $500,000.


BREAST CANCER INSTITUTE: Taps C. Conde & Assoc. as Legal Counsel
----------------------------------------------------------------
Breast Cancer Institute, PSC, seeks approval from the U.S.
Bankruptcy Court for the District of Puerto Rico to hire C. Conde
& Assoc. as its legal counsel.

The firm will advise the Debtor regarding its duties under the
Bankruptcy Code; negotiate with creditors to arrange an orderly
liquidation of its assets or to formulate a plan of
reorganization;
and provide other legal services related to its Chapter 11 case.

The firm's hourly rates are:

     Carmen Conde Torres, Esq.     $300
     Associates                    $275
     Junior Attorney               $250
     Legal Assistant               $150

The Debtor paid the firm a retainer in the sum of $15,000.

Carmen Conde Torres, Esq., a senior attorney employed with C.
Conde & Assoc., disclosed in a court filing that she and other
employees of the firm do not hold or represent any interests
adverse to the Debtor and its estate.

The firm can be reached through:

     Carmen D. Conde Torres, Esq.
     C. Conde & Assoc.
     254 San Jose Street, 5th Floor
     San Juan, PR 00901-1523
     Tel: 787-729-2900
     Fax: 787-729-2203
     E-mail: notices@condelaw.com
     E-mail: condecarmen@condelaw.com

                About Breast Cancer Institute PSC

Breast Cancer Institute, PSC, which conducts business under the
name Advance Breast Center, is a healthcare company that provides
breast imaging, mammography, diagnostic imaging, stereotactic
biopsy, radiology services.  It is based in Cavey, Puerto Rico.

Breast Cancer Institute sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. P.R. Case No. 18-01524) on March 22,
2018.

In the petition signed by Vidal Rosario Leon, president, the
Debtor disclosed $4.06 million in assets and $14.67 million in
liabilities.

Judge Brian K. Tester presides over the case.



===============================
T R I N I D A D  &  T O B A G O
===============================


TRINIDAD  &  TOBAGO: Gets Smallest Bang for The Buck, Says IDB
--------------------------------------------------------------
Trinidad Express reports that Trinidad and Tobago taxpayers get
the smallest bang for their buck in Latin America and the
Caribbean, a new Inter-American Development Bank (IDB) study has
found.  The study also found that, compared to the rest of the
region, borrowers here pay among the highest interest rates on
their loans, while depositors get among the lowest interest rates
on their savings, according to Trinidad Express.

As for fiscal policy, the IDB study had T&T in the worst of four
quadrants in Latin America and the Caribbean, the report notes.

Steward of the nation's fiscal policy, Finance Minister Colm
Imbert, did not respond to requests for comments via phone, text
or e-mail messages over the weekend, notes the report.

                            ***********


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


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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, Julie Anne L. Toledo, Ivy B. Magdadaro, and Peter A.
Chapman, Editors.

Copyright 2018.  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.
.


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