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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

               Thursday, April 19, 2018, Vol. 19, No. 76


                            Headlines



A R G E N T I N A

ARGENTINA: Farmers Demand Access to Land


B R A Z I L

BRF SA: Brazil Lifts Self-Imposed Embargo of Certain Plants
BRF SA: Claimsfiler Reminds Investors of Lead Plaintiff Deadline


D O M I N I C A N   R E P U B L I C

DOMINICAN REPUBLIC: Industry Also Complains of High Road Tolls


M E X I C O

CEMEX SAB: FCPA Investigation Widens


P U E R T O    R I C O

STONEMOR PARTNERS: Late-Filing of Form 10-K Triggers NYSE Notice
VACA BRAVA: May 2 Hearing on Plan and Disclosure Statement


T R I N I D A D  &  T O B A G O

TRINIDAD & TOBAGO: Business Group Comes Out Against Devaluation


V E N E Z U E L A

VENEZUELA: Two Chevron Executives Arrested Amid Oil Purge


                            - - - - -


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


ARGENTINA: Farmers Demand Access to Land
----------------------------------------
EFE News reports that some 1,500 Argentine farmers gathered
outside Congress in this capital to demand a law that provides
low-interest credits to facilitate access to land by family
farmers and other small producers.

The Workers of the Soil Union (UTT) summoned government officials
to a hearing at the seat of Congress to lay out their proposal on
April 18, according to EFE News.

                        *     *    *

As reported in the Troubled Company Reporter-Latin America on
December 4, 2017, Moody's Investors Service has upgraded the
Government of Argentina's local and foreign currency issuer and
senior unsecured ratings to B2 from B3. The senior unsecured
shelves were upgraded to (P)B2 from (P)B3. The outlook on the
ratings is stable.  At the same time, Argentina's short-term
rating was affirmed at Not Prime (NP). The senior unsecured
ratings for unrestructured debt were affirmed at Ca and the
unrestructured senior unsecured shelf affirmed at (P)Ca .

Moody's said the key drivers of the upgrade of the rating to B2
are: (1) a record of macro-economic reforms that are beginning to
address long existing distortions in Argentina's economy; and (2)
the likelihood that reforms will continue and in turn sustain
the recent return to positive economic growth.

The stable outlook on Argentina's B2 ratings balances Argentina's
credit strengths of its large, diverse economy and moderate income
levels against the credit challenges posed by still high fiscal
deficits and a reliance on external financing, which increases its
vulnerability to external event risk, said Moody's.

On Nov. 10, 2017, Fitch Ratings revised Argentina's Outlook to
Positive from Stable and has affirmed its Long Term Foreign-
Currency Issuer Default Rating (IDR) at 'B'.

On Oct. 30, 2017, S&P Global Ratings raised its long-term
sovereign credit ratings on the Republic of Argentina to 'B+' from
'B'. The outlook on the long-term ratings is stable.  S&P also
affirmed its short-term sovereign credit ratings on Argentina at
'B'. At the same time, S&P raised its national scale ratings to
'raAA' from 'raA+'. In addition, S&P raised its transfer and
convertibility assessment to 'BB-' from 'B+', in line with its
assessment of sustained local access to foreign exchange.

As previously reported by the TCR-LA, Argentina defaulted on some
of its debt late July 30, 2014, after expiration of a 30-day grace
period on a US$539 million interest payment.  Earlier that day,
talks with a court-appointed mediator ended without resolving a
standoff between the country and a group of hedge funds seeking
full payment on bonds that the country had defaulted on in 2001.
A U.S. judge had ruled that the interest payment couldn't be made
unless the hedge funds led by Elliott Management Corp., got the
US$1.5 billion they claimed. The country hasn't been able to
access international credit markets since its US$95 billion
default 13 years ago. On March 30, 2016, Argentina's Congress
passed a bill that will allow the government to repay holders of
debt that the South American country defaulted on in 2001,
including a group of litigating hedge funds that won judgments
in a New York court. The bill passed by a vote of 54-16.



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


BRF SA: Brazil Lifts Self-Imposed Embargo of Certain Plants
-----------------------------------------------------------
Ana Mano at Reuters reports that the Brazilian agriculture
ministry will allow food company BRF SA, which was involved in a
food safety scandal, to resume production at certain plants that
export to the European Union, according to an official document
dated April 17.

The ministry had temporarily interrupted production and
certification of BRF's poultry exports to the EU in mid-March,
according to Reuters.

As reported in the Troubled Company Reporter-Latin America on
March 29, 2018, S&P Global Ratings affirmed its issue-level
ratings on BRF S.A., BRF GmbH, and BFF International at 'BB+'. S&P
also assigned a recovery rating of '3' (rounded 65%) to BRF GmbH's
unsecured notes and a recovery rating of '3' (rounded 60%) to BRF
S.A.'s and BFF International's senior unsecured notes.


BRF SA: Claimsfiler Reminds Investors of Lead Plaintiff Deadline
----------------------------------------------------------------
ClaimsFiler reminds investors that they have until May 11, 2018 to
file lead plaintiff applications in a securities class action
lawsuit against BRF S.A., if they purchased the Company's
securities between April 4, 2013 and March 2, 2018, inclusive.
This action is pending in the United States District Court for the
Southern District of New York.

BRF S.A. investors may visit ClaimsFiler site at
https://bit.ly/2EYCZ96 or call to speak to the claim center toll-
free at (844) 367-9658.

                        About the Lawsuit

BRF S.A. and certain of its executives are charged with failing to
disclose material information during the Class Period, violating
federal securities laws.

The alleged false and misleading statements and omissions include,
but are not limited to, that: (i) BRF employees bribed regulators,
among others, to unduly influence results of inspections to
conceal unsanitary practices at the Company's food processing
plants; (ii) the discovery of the foregoing conduct would
foreseeably subject the Company and its officers to heightened
regulatory enforcement and/or prosecution; and (iii) as a result
of the foregoing, BRF's financial statements were materially false
and misleading at all relevant times.

                      About ClaimsFiler

ClaimsFiler has a single mission: to serve as the information
source to help retail investors recover their share of billions of
dollars from securities class action settlements. ClaimsFiler's
team of experts monitor the securities class action landscape and
cull information from a variety of sources to ensure comprehensive
coverage across a broad range of financial instruments.

As reported in the Troubled Company Reporter-Latin America on
March 29, 2018, S&P Global Ratings affirmed its issue-level
ratings on BRF S.A., BRF GmbH, and BFF International at 'BB+'. S&P
also assigned a recovery rating of '3' (rounded 65%) to BRF GmbH's
unsecured notes and a recovery rating of '3' (rounded 60%) to BRF
S.A.'s and BFF International's senior unsecured notes.



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


DOMINICAN REPUBLIC: Industry Also Complains of High Road Tolls
---------------------------------------------------------------
Dominican Today reports that the tolls at the country's beltways
should be revised because they are prompting truck drivers to
avoid them supposedly due to their high cost.

"The beltways are made to move the cargo transport traffic away
from the cities . . . . (but) other aspects must be taken into
account, which is to facilitate the transit of the cargo vehicles
with lower costs so that there is an incentive.  We've made
calculations and what a trucker economizes for using the bypasses
isn't enough with the cost of the toll," the Industries
Association vice president said, according to Dominican Today.

Circe Almanzar said now that there's been a lot of talk about
competitiveness, "we must bear in mind that the issue of cost can
take you out of competition," the report notes.

Before taking part in the meeting of the National Competitiveness
Council's Commission on work of costs and logistical efficiency,
Almanzar revealed that they have sent missives to the Public Works
Ministry to find ways to reduce the tolls, the report relays.

The Industries' complaint of high tolls comes just days after
business leaders of Samana (northwest) also warned that the high
tolls on the road that links the province to the capital was
harming tourism, the report adds.

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



===========
M E X I C O
===========


CEMEX SAB: FCPA Investigation Widens
-------------------------------------
Jaclyn Jaeger at Compliance Week reports that CEMEX, S.A.B. de
C.V. disclosed in a securities filing that the U.S. Department of
Justice has requested from it information regarding an ongoing
Foreign Corrupt Practices Act investigation.

First, a word of background: In December 2016, CEMEX received
subpoenas from the Securities and Exchange Commission seeking
information to determine whether violations of the FCPA occurred
concerning a cement plant project, being built by CEMEX Colombia,
in the Department of Antioquia in the municipality of Maceo,
Colombia (the "Maceo Project"). "These subpoenas do not mean that
the SEC has concluded that CEMEX or any of its affiliates violated
the law," the company stated in the securities filing, according
to Compliance Week.

According to CEMEX, internal audits and investigations by CEMEX
and CEMEX Latam had raised questions about payments relating to
the Maceo Project, the report notes.  The payments made to the
non-governmental individual representing CI Calizas y Minerales
regarding the Maceo Project did not adhere to CEMEX and CEMEX
Latam's internal controls, the report relays.

In September 2016, the CEMEX Latam and CEMEX Colombia officers
responsible for the implementation and execution of the
questionable payments were terminated and the then-Chief Executive
Officer of CEMEX Latam, Carlos Jacks, resigned at the time, the
report says.  CEMEX said it "has been cooperating with the SEC and
the Colombian Attorney General's Office and intends to continue
cooperating fully with the SEC and the Attorney General's Office,"
the report notes.

CEMEX previously disclosed that it was possible that the Justice
Department and other investigatory authorities in other
jurisdictions could also open investigations into this matter, the
report relays.  As such, on March 12, 2018, the Justice Department
issued a grand jury subpoena to CEMEX relating to the company's
operations in Colombia and other jurisdictions, the securities
filing disclosed, the report relays.

CEMEX said it "intends to cooperate fully" with the SEC, Justice
Department, and any other investigatory body. As of March 14,
2018, CEMEX said it's unable to predict at this time the duration,
scope, or outcome of these investigations, or the potential
sanctions that could result, the report adds.

As reported in the Troubled Company Reporter-Latin America on
March 16, 2018, Fitch Ratings has affirmed CEMEX, S.A.B. de C.V.'s
(CEMEX) Long- Term Issuer Default Rating (IDR) at 'BB-'. Fitch has
also affirmed the company's National Scale Long-Term Rating at
'A(mex)' and affirmed the company's National Scale Short-Term
rating at 'F1(mex)'. The Rating Outlook remains Positive.



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


STONEMOR PARTNERS: Late-Filing of Form 10-K Triggers NYSE Notice
----------------------------------------------------------------
StoneMor Partners L.P. received a notice from NYSE Regulation,
Inc. on April 3, 2018, indicating that the Partnership is not
currently in compliance with the NYSE's continued listing
requirements under the timely filing criteria set forth in Section
802.01E of the NYSE Listed Company Manual as a result of its
failure to timely file its Annual Report on Form 10-K for the
fiscal year ended Dec. 31, 2017.

The Partnership had noted in a press release issued on March 29,
2018 that it expected to receive this notice.

The Partnership previously filed a Form 12b-25 with the U.S.
Securities and Exchange Commission on March 19, 2018 to extend the
due date for its 2017 Form 10-K from March 16, 2018, the date on
which such report initially was due, to April 2, 2018.  The time
needed to complete the filing of the Partnership's Annual Report
on Form 10-K for the year ended Dec. 31, 2016 and the Form 10-Q
Reports for the first three quarters of 2017 had impacted the
preparation of the 2017 Form 10-K.  As a result, the Partnership
was unable to file the 2017 Form 10-K by April 2, 2018.

In accordance with NYSE procedures, the Partnership has contacted
the NYSE to discuss the status of the 2017 Form 10-K and issued
the March 29, 2018 press release that, among other matters,
discussed the filing delinquency.  As set forth in the notice,
under NYSE rules, the Partnership will have six months from
March 16, 2018 to file the 2017 Form 10-K with the SEC.  The
Partnership can regain compliance with the NYSE's continued
listing requirements at any time during this six-month period by
filing the 2017 Form 10-K with the SEC.  The Partnership intends
to file the 2017 Form 10-K as soon as reasonably practicable.  If
the Partnership fails to file the 2017 Form 10-K within this six-
month period, the NYSE may grant, at its sole discretion, an
extension of up to six additional months for the Partnership to
regain compliance, depending on the specific circumstances.  The
notice from the NYSE also notes that the NYSE may nevertheless
commence delisting proceedings at any time if it deems that the
circumstances warrant.  Under NYSE rules, the Partnership's common
units will remain listed on the NYSE under the symbol "STON" with
an "LF"

                      Director Re-election

On April 4, 2018, the Board of Directors of StoneMor GP LLC, the
general partner of the Partnership, re-elected Allen R. Freedman
and Howard L. Carver as directors, to serve until the earlier to
occur of the filing by the Partnership of the 2017 Form 10-K with
the SEC or the close of business on May 1, 2018.  Messrs. Freedman
and Carver had previously served as members of the Board and its
Audit Committee until April 2, 2018, and the Board concluded that
it was in the best interests of the General Partner and the
Partnership to re-elect them to the Board for this interim period.
Mr. Freedman, age 78, served on the Board from the Partnership's
formation in April 2004 until April 2, 2018, and had served as a
director of Cornerstone Family Services, Inc. from October 2000
through April 2004.  Mr. Freedman is a graduate of Tufts
University and the University of Virginia School of Law.  In
addition to serving on boards of public companies, Mr. Freedman is
a private investor.  Mr. Freedman retired in July 2000 from his
position as Chairman and Chief Executive Officer of Fortis, Inc.,
a specialty insurance company that he started in 1979.  He
continued to serve on the board of Assurant, Inc. (successor to
Fortis, Inc.) until May of 2011.  He was previously Chairman of
the Board of Systems & Computer Technology Corporation until 2004
and Indus, Inc. until 2007.  He retired as a trustee of the Eaton
Vance Mutual Funds Group in 2014, where he served on the
Governance and Portfolio Management Committees.  Mr. Freedman has
served on the board of a number of charitable organizations
including the Philadelphia Orchestra, the United Way of New York
and the board of Opera America, the service organization for over
100 opera companies in the United States, Canada and Europe.  He
currently serves on the Investment Committee of Phi Beta Kappa
Society.  He is also a founding director of the Association of
Audit Committee Members, Inc.  Mr. Freedman brings to the Board
extensive financial and operational experience, knowledge of audit
practices, and investment and risk management expertise, as well
as leadership skills and strategic advice.

Mr. Carver, age 73, served on the Board from August 2005 until
April 2, 2018.  Mr. Carver retired in June 2002 from Ernst &
Young, LLP.  During his 35-year career with the firm, Mr. Carver
held a variety of positions in six U.S. offices, culminating with
the position of managing partner responsible for the operation of
the Hartford, Connecticut office.  Since June 2002, Mr. Carver has
served on the boards of directors of Assurant, Inc. (formerly
Fortis, Inc.) and Phoenix National Trust Company (until its sale
in April 2004) and was the chair of the Audit Committee for both
boards.  He currently serves as the Chair of Assurant's Nominating
and Corporate Governance Committee and is a member of its Audit
Committee.  Effective January 2012, Mr. Carver was appointed to
the Audit Committee of Pinnacol Assurance, the workers'
compensation facility for the State of Colorado, and in January
2013 he was appointed to Pinnacol's board by the Governor of
Colorado and currently serves as Chair of the Board and Chair of
Pinnacol's Executive Committee.  Mr. Carver brings to the Board
extensive financial, accounting and audit practices expertise, a
keen understanding of financial controls and systems and a
significant risk management and governance background.

In connection with the re-election of Messrs.  Freedman and Carver
to the Board, the Board also reconstituted the Audit Committee to
consist of Stephen J. Negrotti (Chair), Patricia D. Wellenbach,
Martin R. Lautman, Ph.D. and Messrs. Freedman and Carver.  Messrs.
Freedman and Carver are not expected to serve on any other Board
committees, and will participate in the General Partner's standard
independent director compensation program.

                      About StoneMor Partners

StoneMor Partners L.P., headquartered in Trevose, Pennsylvania, is
an owner and operator of cemeteries and funeral homes in the
United States, with 316 cemeteries and 93 funeral homes in 27
states and Puerto Rico.  StoneMor is the only publicly traded
death care company structured as a partnership.  StoneMor's
cemetery products and services, which are sold on both a pre-need
(before death) and at-need (at death) basis, include: burial lots,
lawn and mausoleum crypts, burial vaults, caskets, memorials, and
all services whichprovide for the installation of this
merchandise.  For additional information about StoneMor Partners
L.P., please visit StoneMor's website, and the investors section,
at http://www.stonemor.com.

As of Sept. 30, 2017, StoneMor had $1.79 billion in total assets,
$1.66 billion in total liabilities and $136.74 million in total
partners' capital.  StoneMor incurred a net loss of $30.48 million
in 2016, a net loss of $23.39 million in 2015 and a net loss of
$9.78 million in 2014.

                              *    *    *

As reported by the TCR on April 6, 2018 S&P Global Ratings
affirmed its 'CCC+' corporate credit rating on StoneMor Partners
L.P.  S&P said, "The rating affirmation reflects our expectation
that the company can generate operating cash flow of approximately
$25 million in 2018 to support operating needs for at least
another year.


VACA BRAVA: May 2 Hearing on Plan and Disclosure Statement
----------------------------------------------------------
Judge Mildred Caban Flores of the U.S. Bankruptcy Court for the
District of Puerto Rico conditionally approved Vaca Brava Old San
Juan LLC's amended disclosure statement to accompany its amended
plan filed on March 21, 2018.

Acceptances or rejections of the Plan may be filed in writing by
the holders of all claims on/or before 14 days prior to the date
of the hearing on confirmation of the Plan.

Any objection to the final approval of the Amended Disclosure
Statement and/or the confirmation of the Amended Plan must be
filed on/or before 14 days prior to the date of the hearing on
confirmation of the Plan.

A hearing for the consideration of the final approval of the
Amended Disclosure Statement and the confirmation of the Amended
Plan will be held on May 2, 2018 at 09:00 A.M. at the U.S.
Bankruptcy Court, Jose V. Toledo U.S. Post Office and Courthouse
Building, 300 Recinto Sur Street, Courtroom 3, Third Floor, San
Juan, Puerto Rico.

Holders of Class 1 - Unsecured convenience class pursuant to 11
U.S.C. Section 1122 for claims that are under or equal to $5,000
will receive a lump-sum distribution of $5,000.00 on the Effective
Date of the Plan.  Each claim holder under this class will receive
pro-rata distributions, as per the allowed amounts. Based on the
current allowed amounts, each claim holder in this class  will
receive approximately 8.37% of the allowed amount. Any change in
the allowed amounts may change the actual distribution percentage,
but it will be nevertheless the same to all of them.

Holders of Class 2 - Unsecured convenience class pursuant to 11
U.S.C. Section 1122 for claims that are over $5,001 will get
$500.00 monthly for a 5-year period. Each claim holder under this
class will receive pro-rata distributions, as per the allowed
amounts. Based on the current allowed amounts, each claim holder
in this class will receive approximately 10.18% of the allowed
amount.

Any change in the allowed amounts may change the actual
distribution percentage, but it will be nevertheless the same to
all of them.

Equity Interest Holders -- Mr. Juan C. Cintron and Mrs. Lisandra
Hernandez -- are the equity interest holders and will receive no
distribution under the reorganization plan.

A full-text copy of the Amended Disclosure Statement is available
at http://bankrupt.com/misc/prb15-09087-311.pdf

                       About Vaca Brava

Vaca Brava Old San Juan LLC operates a restaurant business located
in the vicinity of Old San Juan, which is a vivid and highly busy
area visited by many tourists and locals alike.  Vaca Brava Old
San Juan filed for Chapter 11 bankruptcy protection (Bankr. D.P.R.
Case No. 15-09787) on Dec. 10, 2015, estimating its assets and
liabilities at between $100,001 and $500,000 each.  Javier
Vilarino, Esq., at Vilarino & Associates LLC serves as the
Debtor's bankruptcy counsel.



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


TRINIDAD & TOBAGO: Business Group Comes Out Against Devaluation
---------------------------------------------------------------
Aleem Khan at Trinidad Express reports that the head of a local
private sector organisation has come out against a devaluation of
the TT dollar because of the impact that such a policy measure
would have on the country's inflation rate and the resulting
further contraction of the domestic economy.

Responding to a question at the San Juan Business Association's
(SJBA) first quarterly meeting of 2018 at the Maritime Plaza in
Barataria, the group's president, Vivek Charran, said: "We are not
one of those people who support a devaluation, and it is quite
simple, really."  Devaluation is a form of foreign exchange
(forex) control, according to Trinidad Express.



=================
V E N E Z U E L A
=================


VENEZUELA: Two Chevron Executives Arrested Amid Oil Purge
---------------------------------------------------------
Reuters reports that Chevron said two of its executives were
arrested in Venezuela, a rare move likely to spook foreign energy
firms still operating in the OPEC nation stricken by
hyperinflation, shortages and crime.

Venezuelan Sebin intelligence agents burst into the Petropiar
joint venture's office in the coastal city of Puerto La Cruz and
arrested the two Venezuelan employees for alleged wrongdoing, a
half-dozen sources with knowledge of the detentions told Reuters.

Venezuela's Information Ministry and state-run company PDVSA did
not respond to information requests about the detentions, which
come amid a crackdown on alleged graft in the oil sector,
according to Reuters.

One of the detainees, Carlos Algarra, is a Venezuelan chemical
engineer and expert in oil upgrading whom Chevron had brought in
from its Argentina operations, the report notes.  The other, Rene
Vasquez, is a procurement adviser, according to his LinkedIn
profile, the report relays.

The U.S. major confirmed the arrests, which are believed to be the
first to affect a foreign oil company's direct employees, the
report discloses.

"Chevron Global Technology Services Company is aware that two of
its Venezuelan-based employees have been arrested by local
authorities," Chevron said in a statement obtained by the news
agency.

"We have contacted the local authorities to understand the basis
of the detention and to ensure the safety and wellbeing of these
employees.  Our legal team is evaluating the situation and working
towards the timely release of these employees," Chevron added.

A Chevron spokeswoman declined to provide further details on the
case or the status of its operations, the report discloses.  The
U.S. State Department did not immediately respond to a request for
comment, the report relays.

The executives were arrested after disagreements with their PDVSA
counterparts over procurement processes, two of the sources said,
the report discloses.

The report relays that the arrests highlight risks for foreign
firms in Venezuela. Some insiders say a fracturing ruling elite is
using the purge to wage turf wars or settle scores.

"Oil industry companies would do well to be cautious and stop
assuming that good relations with PDVSA can last forever due to a
common interest in pumping oil," said Raul Gallegos, associate
director with the consultancy Control Risks, the report notes.

"The level of corruption in PDVSA, especially under a military
administration, can and will trump production logic," he added.

President Nicolas Maduro since last year has overseen the arrest
of dozens of oil executives, including the former energy minister
and PDVSA president, the report relays.

The purge comes years after industry analysts began criticizing
PDVSA for widespread graft, the report discloses.  The government
long decried such accusations as "smear campaigns," but last year
Maduro started blaming "thieves" for rampant graft in the oil
sector.

Vowing a cleanup, many jailed executives have been replaced with
soldiers, but PDVSA's unpopular management has spurred a wave of
resignations.

As reported in the Troubled Company Reporter-Latin America on
March 13, 2018, Moody's Investors Service has downgraded the
Government of Venezuela's foreign currency and local currency
issuer ratings, foreign and local currency senior unsecured
ratings, and foreign currency senior secured rating to C from
Caa3. Concurrently, the foreign currency senior unsecured medium
term note program has also been downgraded to (P)C from (P)Caa3.
The outlook has been changed to stable from negative.


                            ***********


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, 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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