/raid1/www/Hosts/bankrupt/TCRLA_Public/190206.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

           Wednesday, February 6, 2019, Vol. 20, No. 26


                            Headlines



B R A Z I L

BRAZIL: Consumer Confidence Grows as Bolsonaro Sparks Hopes
BRAZIL LOAN I: Fitch Affirms BB-sf Rating on USD661MM Notes
EMBRAER SA: Moody's Reviews Ba1 Notes Rating for Upgrade


C A Y M A N  I S L A N D S

SIGNUM VERDE 2006-02: Fitch Cuts CLP5.3BB Notes Rating to BBsf
LATAM WALKERS 2006-101: Fitch Cuts CLP5.3BB Certs. to BBsf


P U E R T O    R I C O

CHARLOTTE RUSSE: Case Summary & 30 Largest Unsecured Creditors
MAYANSA DREAMS: Seeks to Hire Hatillo Law as Attorney
SKYTEC INC: Unsecured Creditors to Get 15% Under Chapter 11 Plan


T R I N I D A D  &  T O B A G O

PETROLEUM CO: 50 Interested in Company Refinery


V E N E Z U E L A

VENEZUELA: CARICOM Delegation Heading to Uruguay on Solving Crisis
VENEZUELA: Armada of Tankers With Oil Forms in U.S. Gulf


                            - - - - -


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



BRAZIL: Consumer Confidence Grows as Bolsonaro Sparks Hopes
-----------------------------------------------------------
EFE News reports that for the first time in many years, senior
citizen Maria Helena gave in to her love for shopping and filled a
cart with dozens of garments from a shop in Sao Paulo, reflecting
a new-found confidence in the country's economy under President
Jair Bolsonaro.

Bolsonaro, 63, the rightwing former army captain, assumed office
Jan. 1 after winning polls last year on the promise of big ticket
economic reforms and open market policy, according to EFE News.

As reported in the Troubled Company Reporter-Latin America,
Egan-Jones Ratings Company, on October 8, 2018, withdrew its 'B+'
foreign currency and local currency senior unsecured ratings on
debt issued by the Federative Republic of Brazil.


BRAZIL LOAN I: Fitch Affirms BB-sf Rating on USD661MM Notes
-----------------------------------------------------------
Fitch Ratings has affirmed the senior secured pass-through notes
issued by Brazil Loan Trust I as follows:

  -- USD661.9 million notes at 'BB-sf'; Outlook Stable.

The transaction is a pass-through securitization of a 10-year
amortizing loan originated by Bank of America N.A. (AA-/Stable) to
the Brazilian State of Maranhao (BB-/Stable). The loan is
guaranteed on an unconditional and irrevocable basis by the
Federative Republic of Brazil (BB-/Stable).

Payments on the loan are made to a bank account of Wilmington
Trust N.A. (administrative agent; A/Stable). On the next day,
funds are transferred to an Issuer account at The Bank of New York
Mellon (indenture trustee; AA/Stable). Payments are made under the
notes immediately thereafter.

Fitch's rating addresses timely payment of interest and principal
on the scheduled payment date until legal final maturity.

KEY RATING DRIVERS

The affirmation of the notes reflects the affirmation of Brazil's
Credit Quality. The transaction benefits from an unconditional an
irrevocable guarantee from Brazil as primary obligor on the
underlying loan. Therefore, the rating of senior secured pass-
through notes is equivalent to Brazil's sovereign long-term Issuer
Default Ratings (IDRs). Fitch affirmed Brazil's Foreign Currency
(FC) IDR on Aug. 1, 2018 at 'BB-'/Outlook Stable.

Brazil's rating reflects its persistent and large fiscal deficits,
a high and growing government debt burden and the failure to
legislate reforms that would improve the structural performance of
public finances. Brazil's economic growth should accelerate but
remain modest in 2019 and 2020, but potential for further upside
will depend on external factors and newly inaugurated President
Jair Bolsonaro's economic agenda. Bolsonaro has continued to
advocate for a generally business-friendly agenda since he won the
second round of the presidential election on Oct. 28, 2018. His
economic platform included fiscal consolidation, pension reform,
simplification of the tax code, privatization and formal
independence for the central bank. Notably, some appointments to
his administration made in November, including to the national
treasury, central bank and development bank BNDES, suggest that he
is forming a market-friendly economic team.

The 'BB-' rating and Stable Outlook also reflect Fitch's
expectation that Brazil's external balance sheet will remain
relatively strong during the forecast period and provide a cushion
against external and/or domestic shocks. The high level of
international reserves, a strong net sovereign external creditor
position and the significant reduction in the current account
deficit provide the authorities room to maneuver in the face of a
shock. Moreover, deep and developed domestic government debt
markets continue to provide financing for the large fiscal
deficit. Brazil's economic diversity, well entrenched civil
institutions, and a higher than peer median per capita income are
supportive of its credit profile.

The notes' rating also considers the timely payments of interest
and principal due to date. All semi-annual payments due until
January 2019 were made directly by the State of Maranhao. The next
interest and principal payment date is July 23, 2019.

RATING SENSITIVITIES

The transaction's rating is sensitive to changes to the FC IDR
assigned to Brazil as guarantor on an unconditional and
irrevocable basis. Whilst the State of Maranhao is currently rated
equally to the Sovereign, the rating of the transaction will not
be sensitive to changes to the rating of the state. If the rating
assigned to Maranhao's FC obligations surpasses the rating of
Brazil, the transaction's rating will be rated at the State of
Maranhao's rating.


EMBRAER SA: Moody's Reviews Ba1 Notes Rating for Upgrade
--------------------------------------------------------
Moody's Investors Service has placed the Ba1 rating of Embraer
S.A's senior unsecured notes under review for upgrade. Embraer's
Ba1 corporate family rating remains unchanged. The review follows
the agreement between Embraer and The Boeing Company ("Boeing", A2
stable) to create a joint-venture focused on commercial aviation
containing Embraer's commercial aviation and services segments.
Boeing will control and consolidate the JV with a 80% stake while
Embraer will keep the remaining 20% stake after transferring
assets and liabilities related to its commercial aviation business
to the JV.

Ratings placed under review for upgrade:

Issuer: Embraer S.A.

$500 million global senior notes due 2022: Ba1 -- under review for
upgrade

Outlook, changed to rating under review from stable

Issuer: Embraer Netherlands Finance BV

$1,000 million global senior notes due 2025 guaranteed by Embraer
S.A.: Ba1 -- under review for upgrade

Outlook, changed to rating under review from stable

Issuer: Embraer Overseas Limited

$500 million ($163 million outstanding) senior notes due 2020
guaranteed by Embraer S.A.: Ba1 -- under review for upgrade

$541 million global senior notes due 2023 guaranteed by Embraer
S.A.: Ba1 -- under review for upgrade

Outlook, changed to rating under review from stable

The company's Corporate Family Rating is unchanged:

Issuer: Embraer S.A.

Corporate Family Rating: Ba1, Stable Outlook

RATINGS RATIONALE

The review for upgrade of the senior unsecured notes is a
consequence of the agreement between Embraer and Boeing to create
JV focused on the commercial aviation segment and the expectation
that the senior unsecured notes will be transferred to the JV.
Embraer will contribute its assets and liabilities related to the
commercial aviation business into the new entity, including the
senior unsecured notes issued by Embraer or its subsidiaries and
guaranteed by Embraer.

If the transaction is concluded as planned, Boeing will own and
consolidate 80% of the JV, which will significantly improve the
credit quality of the unsecured notes, even if a formal guarantee
is absent. Accordingly, the review may lead to a multi-notch
upgrade of the senior unsecured notes.

During the review, Moody's will monitor the next steps until the
formal completion of the transaction, including the approvals from
Embraer's shareholders and anti-trust authorities. The companies
expect that the transaction will be concluded by the end of 2019.
Brazil's government recently approved the deal by not exercising
the veto rights from its golden share on Embraer.

Embraer's Ba1 CFR remains unchanged. Despite the smaller size and
higher product concentration after the sale of its commercial
aviation segment, its credit metrics will improve materially. The
company's leverage will decrease significantly because most of its
outstanding indebtedness is comprised by the senior unsecured
notes that will be transferred to the JV. If the deal is closed as
expected liquidity will also improve as the company expects to
retain around $1.4 billion in cash from the $3.0 billion in net
proceeds. Embraer will also receive a put option for its remaining
20% stake in the JV valued at around $1.0 billion or more. The
companies have also agreed to the terms of another JV to promote
and develop new markets for the multi-mission medium airlift KC-
390. Under the terms of this proposed partnership, Embraer will
own a 51% stake in the joint venture, with Boeing owning the
remaining 49%.

The stable outlook on Embraer's Ba1 CFR takes into consideration
the expectation of a decrease in leverage and strong liquidity
that will result in negative net debt as well as synergies that
will be extracted from the partnerships with Boeing when the
transaction is closed.

The rating on Embraer's CFR could be downgraded if after the
conclusion of the transaction its liquidity and leverage are worse
than previously expected as a consequence of a weaker business
model or less conservative financial policies.

An upgrade on Embraer's CFR is unlikely in the medium term. Over a
longer term horizon, the rating could be upgraded if the company
is able to improve margins in the executive aviation business and
the KC-390 JV is successful in leveraging the new aircraft sales.
Accordingly, an upgrade would require Embraer to enter into a
route of sustained revenue growth and strong operating profit
margins while maintaining strong liquidity, low leverage and
conservative financial policies.

Embraer is the leading manufacturer of commercial jet up to 150
seats, with a growing defense and security segment, and a line of
business jets including new types for the medium-light and medium-
sized segments. Founded in 1969 by the Brazilian federal
government and privatized in 1994, Embraer is headquartered in Sao
Jose dos Campos, Brazil. Embraer generated about $4.8 billion in
net revenue for the 12 months ended September 30, 2018.

The Boeing Company is a leading large commercial airplane
manufacturer and a prime contractor to the US Department of
Defense for aircraft, weapons and related systems. The company
operates through three principal business segments: Commercial
Airplanes (BCA), Defense, Space & Security (BDS), and Global
Services (BGS). Headquartered in Chicago, Illinois, Boeing
reported approximately $96 billion of revenue (excluding BCC) for
the 12 months ended September 30, 2018.

The principal methodology used in these ratings was Aerospace and
Defense Industry published in March 2018.


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


SIGNUM VERDE 2006-02: Fitch Cuts CLP5.3BB Notes Rating to BBsf
--------------------------------------------------------------
Fitch Ratings has downgraded the following Signum Verde Limited
2006-02 rating:

  -- CLP5,300,000,000 credit-linked notes to 'BBsf' from 'BBB-sf';
Placed on Rating Watch Negative.

KEY RATING DRIVERS

The rating action follows Fitch's downgrade and placement on
Rating Watch Negative of the reference entity Vale S.A. to 'BBB-
'/Rating Watch Negative. Fitch monitors the performance of the
underlying risk-presenting entities and adjusts the rating
accordingly through application of its credit-linked note (CLN)
criteria, "Single-and Multi-Name Credit-Linked Notes Rating
Criteria," dated July 19, 2018.

The rating considers the credit quality of Vale's current Long-
Term Issuer Default Rating (IDR) of 'BBB-'/Rating Watch Negative
as the reference entity, and Goldman Sachs Group, Inc.,
(A+/Outlook Stable) as the swap counterparty and issuer of the
qualified investment. The downgrade and Negative Watch reflects
action taken on the primary risk driver, Vale, which is the
lowest-rated risk presenting entity.

RATING SENSITIVITIES

The credit-linked note remains sensitive to the ratings migration
of the underlying risk-presenting entities. A downgrade of the
weakest link would result in a downgrade to the credit linked
notes according to Fitch's CLN criteria.

USE OF THIRD-PARTY DUE DILIGENCE PURSUANT TO SEC RULE 17G-10

No third party due diligence was provided or reviewed in relation
to this rating action.


LATAM WALKERS 2006-101: Fitch Cuts CLP5.3BB Certs. to BBsf
----------------------------------------------------------
Fitch Ratings has downgraded Latam Walkers Cayman Series 2006-101
as follows:

  -- CLP5,348,000,000 UF-Adjusted Certificates, to 'BBsf' from
'BBB-sf'; Outlook Negative maintained.

KEY RATING DRIVERS

The rating action follows Fitch's downgrade of the reference
entity, Petroleos Mexicanos (Pemex), to 'BBB-'/Negative. Fitch
monitors the performance of the underlying risk-presenting
entities and adjusts the rating accordingly through the
application of its credit-linked note (CLN) criteria, "Single-and
Multi-Name Credit-Linked Notes Rating Criteria," dated July 19,
2018.

The rating considers the credit quality of Pemex's current Issuer
Default Rating (IDR) of 'BBB-'/Negative as the reference entity,
and Bank of America Corp. (A+/Stable), as the swap counterparty
and issuer of the qualified investment. The downgrade reflects the
action taken on the primary risk driver, Pemex, which is the
lowest-rated risk presenting entity.

RATING SENSITIVITIES

The credit-linked note remains sensitive to the ratings migration
of the underlying risk-presenting entities. A downgrade of the
weakest link would result in a downgrade to the UF-Adjusted
Certificates according to Fitch's CLN criteria.

USE OF THIRD-PARTY DUE DILIGENCE PURSUANT TO SEC RULE 17G-10

Form ABS Due Diligence-15E was not provided to, or reviewed by,
Fitch in relation to this rating action.



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


CHARLOTTE RUSSE: Case Summary & 30 Largest Unsecured Creditors
--------------------------------------------------------------
Lead Debtor: Charlotte Russe Holding, Inc.
             5910 Pacific Center Blvd., Suite 120
             San Diego, CA 92121

Business Description: Charlotte Russe --
                      https://www.charlotterusse.com -- is a
                      specialty fashion retailer of young women's
                      apparel and accessories comprised of seven
                      entities.  The Debtors are headquartered in
                      San Diego, California and have one
                      distribution center located in Ontario,
                      California.  In addition, the Debtors lease
                      office space in Los Angeles, California and
                      San Francisco, California, where they
                      primarily conduct merchandising, marketing,
                      e-commerce and technology functions.  The
                      Debtors sell their merchandise to customers
                      in the contiguous 48 states, Hawaii, and
                      Puerto Rico through their online store and
                      512 Charlotte Russe brick-and-mortar stores
                      located in various regional malls, outlet
                      centers, and lifestyle centers.  The bulk of
                      the Debtors' apparel and accessory products
                      are sold under the Charlotte Russe brand
                      with ancillary brands for denim and perfume
                      (Refuge), young women's plus-size apparel
                      (Charlotte Russe Plus), and cosmetics
                      (Charlotte by Charlotte Russe).

Chapter 11 Petition Date: February 3, 2019

Seven affiliates that simultaneously filed voluntary petitions
seeking Chapter 11 relief:

     Debtor                                         Case No.
     ------                                         --------
     Charlotte Russe Holding, Inc. (Lead Case)      19-10210
     Charlotte Russe Holdings Corporation           19-10211
     Charlotte Russe Intermediate Corporation       19-10212
     Charlotte Russe Enterprise, Inc.               19-10213
     Charlotte Russe, Inc.                          19-10214
     Charlotte Russe Merchandising, Inc.            19-10215
     Charlotte Russe Administration, Inc.           19-10216

Court: United States Bankruptcy Court
       District of Delaware (Delaware)

Judge: Hon. Laurie Selber Silverstein

Debtors' Counsel: Justin R. Alberto, Esq.
                  Erin R. Fay, Esq.
                  Daniel N. Brogan, Esq.
                  BAYARD, P.A.
                  600 North King Street, Suite 400
                  Wilmington, Delaware 19801
                  Tel: (302) 655-5000
                       (302) 429-4226
                  Fax: (302) 658-6395
                  Email: jalberto@bayardlaw.com
                         efay@bayardlaw.com

                    - and -

                  Seth Van Aalten, Esq.
                  Michael Klein, Esq.
                  Summer M. McKee, Esq.
                  COOLEY LLP
                  1114 Avenue of the Americas
                  New York, New York 10036
                  Tel: (212) 479-6000
                  Fax: (212) 479-6275
                  Email: svanaalten@cooley.com
                         mklein@cooley.com
                         smckee@cooley.com

Debtors'
Investment
Banker:           GUGGENHEIM SECURITIES, LLC

Debtors'
Lease
Disposition
Consultant &
Business
Broker:           A&G REALTY PARTNERS, LLC

Debtors'
Liquidation
Consultant:       GORDON BROTHERS RETAIL PARTNERS, LLC &
                  HILCO MERCHANT RESOURCES, LLC

                     - and -

                  MALFITANO ADVISORS, LLC

Debtors'
Claims,
Noticing &
Administrative
Agent:            DONLIN, RECANO, & COMPANY, INC.

https://www.donlinrecano.com/Clients/crusse/Index

Charlotte Russe Holding's
Estimated Assets: $100 million to $500 million

Charlotte Russe Holding's
Estimated Liabilities: $100 million to $500 million

The petitions were signed by Brian M. Cashman, chief restructuring
officer.

A full-text copy of Charlotte Russe Holding's petition is
available
for free at:

               http://bankrupt.com/misc/deb19-10210.pdf

Consolidated List of Debtors' 30 Largest Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
FedEx ERS                           Trade Payable       $2,945,338
PO Box 371741
Pittsburgh, PA 15250-7741
Kye Beverly
Tel: 949-862-4734
Email: kbeverly@fedex.com

Google Inc.                         Trade Payable       $2,325,033
Accounts Receivable Dept
1600 Amphitheatre Pkwy
Mountain View CA 94043
Sylwia Hebda
Tel: 650-253-8616
Email: afs-cashapps@google.com

Valueline Group Co. Ltd.            Trade Payable       $2,035,209
FL 7 Huatian Bldg No. 18
Houjie Blvd S Houjie Town
Dongguan City, Guangdong Province
523960 China
David Wang
Tel: 769-812-63588
Email: david@topgloryfootwear.com

East Lion Corp                      Trade Payable       $1,637,313

318 Brea Canyon Rd
City of Industry CA 91789
Julie Kuo
Tel: 626-912-1818
Email: juliek@eastlioncorp.com

Ven Bridge Co Ltd.                  Trade Payable       $1,576,968
35th No. 96
East Zhuanxing Rd
Shanghai, China
Sean Gogarty
Tel: 86-21-34797031
Email: spgtextiles@gmail.com

Shantex Group LLC                   Trade Payable       $1,500,301
530 7th Ave
Ste 703
New York NY 10018
David Orland
Tel: 646-918-6399
Email: david@shantex.us

Merkle Inc.                         Trade Payable       $1,229,583
29432 Network PL
Chicago IL 60673-1432
Kristine Elliot
Tel: 443-542-4348
Email: kelliot@merkleinc.com

RealPlay Corp. DBA Riplay           Trade Payable       $1,212,474
DBA Riplay Inc.
18350 San Jose Ave
City of Industry CA 91748
Mark Hsia
Tel: 626-964-6348
Email: mark@riplay-llc.com

Global Capital Fashions Inc.        Trade Payable       $1,114,957
247 West 35th St.
11 FL Front
New york NY 10001
Simon Leung
Tel: 917-232-7894
Email: simon@bluestarfashion.com

Topson Downs/Love Fire              Trade Payable       $1,035,881
3840 Watseka VAE
Culver City CA 90232
Daniel Abramovitch
Tel: 310-558-0300
Email: danielabramovitch@topsondowns.com

KNY Clothing DBA Yipee Nam Gow      Trade Payable       $1,026,614
1662 Long Beach Ave
Los Angeles CA 90021
Steve Cho/Karen Oh
Tel: 323-750-0015
Email: lashesclothing@gmail.com

Anan Enterprise Inc.                Trade Payable         $965,972
DBA Sarah
2080 25th St.
Vernon CA 90058
Sarah Kim
Tel: 323-589-1363
Email: sarahmkim0826@gmail.com

Legend Footwear Inc.                Trade Payable         $857,564
19445 E Walnut Dr N
City of Industry CA 91789
Jenni Yeh
Tel: 626-934-7268
Email: jenni@legendfootwear.com

Samil Solution                      Trade Payable         $827,744
6F Rio Bldg 790-2 Yeoksam
Seoul 135-929
Korea
Paul Kang
Tel: 822-5655264
Email: paulkang@samilsolution.com

Priority Fulfillment Services       Trade Payable         $811,287
505 Millenium Dr
Allen TX 75013
Tom Madden
Tel: 972-679-2403
Email: tmadden@pfsweb.com

Mezzanine USA Inc.                  Trade Payable         $774,575
1015 Crocker St R29
Los Angeles CA 90021
Christopher Kim
Tel: 213-748-0044
Email: chris@mezzanineusa.com

JP Original Corp                    Trade Payable         $760,502
19101 E Walnut Dr North
City of Industry CA 91748
Paul Kascsak
Tel: 404-749-5355
Email: paulk@jpo.com

Zhengpeng Trade Co Ltd.             Trade Payable         $716,820
RM 502 Bldg 2 Hetong Jin
Yuan
QN Fen Rd
Wenshou, China
Sunny
Tel: 577-65008022
Email: sunny.zhengpeng@gmail.com

Double H Sourcing                   Trade Payable         $714,193
RM 205 Hacksankosmotel 110
Gwangjang Dong Gwangjin Ku
Seoul, Korea
Winnie Cho
Tel: 822-3436-8865
Email: winnie@dhsourcing.co.kr

Fortune Dynamic Inc.                Trade Payable         $680,075
21923 Ferrero Pkwy
City of Industry CA 91789
Tracy Man
Tel: 909-979-8303
Email: tracyman@fortunedynamic.com

Maesa LLC                           Trade Payable         $676,195
40 Worth St, Ste 705
New York NY 10013
Jeff Klein
Tel: 212-674-5555 x484
Email: jeff.klein@maesa.com

Ella L Clothing Inc.                Trade Payable         $632,593
16828 Armstead St.
Granda Hills CA 91344
James Song
Tel: 818-270-5345
Email: ellal.jamessong@gmail.com

Jessmyn IN USA                      Trade Payable         $621,748
2080 E25th St.
Vernon CA 90058
Kyle Kim
Tel: 213-268-7855
Email: jessmyn.usa@gmail.com

Rhapsody Clothing Inc.              Trade Payable         $585,882
2222 E Olympic Blvd
Los Angeles CA 90021
Pearl Shinn
Tel: 213-614-8886
Email: pearl.s@rhapsodyclothing.com

Jainson's International Inc.        Trade Payable         $511,232
7526 Tyrone Ave
Van Nuys CA 91405
Amit Jain
Tel: 818-779-2910
Email: amit@jaincompany.com

Product Development Int'l.          Trade Payable         $507,109
1350 Broadway Ste 601
New York 10018
Sandy
Tel: 212-279-6186
Email: sandy@pdifashion.com

The Vintage Shop                    Trade Payable         $446,491
MSK Apparel Inc.
1015 S Crocker St
#R-14
Los Angeles CA 90021
Austin Kim Danny Shin
Tel: 213-747-1509
Email: austin4778@hotmail.com;
danny_vintageshop@hotmail.com

Regent-Sutton LLC                   Trade Payable         $435,267
1411 Broadway 8th FL
New York NY 10018
Avi Cohen
Tel: 646-484-3782
Email: avic@jasonmaxwell.com

505 Sonoma Corp DBA GIC             Trade Payable         $432,465
DBA GIC International
3812 Sebastopol Rd
Santa Rosa CA 95407
Kevin Pan
Tel: 707-238-1886
Email: kevinpan@gicintl.com

R AHN                               Trade Payable         $416,265
2115 E Anderson St.
Vernon CA 90058
Cheyrin (Cindy) Park
Tel: 213-220-7113
Email: bellabettyfashion@gmail.com


MAYANSA DREAMS: Seeks to Hire Hatillo Law as Attorney
-----------------------------------------------------
Mayansa Dreams Group LLC seeks authority from the U.S. Bankruptcy
Court for the District of Puerto Rico to employ Hatillo Law
Office, PSC, as attorney to the Debtor.

Mayansa Dreams requires Hatillo Law to:

   a. give the Debtor legal advice with respect to its powers and
      duties as debtor in possession in the continued operation
      of its business and management of its property;

   b. prepare on behalf of the Debtor as debtor in possession
      necessary applications, answers, orders, reports and other
      legal papers; and

   c. perform all other legal services for the Debtor as debtor
      in possession which may be necessary.

Hatillo Law will be paid at these hourly rates:

     Attorneys             $200
     Paralegals             $50

Hatillo Law will be paid a retainer in the amount of $5,000.

Hatillo Law will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Jaime Rodriguez Perez, a partner at Hatillo Law Office, assured
the Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtor and its estates.

Hatillo Law can be reached at:

     Jaime Rodriguez Perez, Esq.
     HATILLO LAW OFFICE, PSC
     Carr. #2 Km. 85.8 Calle Marginal Bo.
     Hatillo, PR 00659
     Tel: (787) 262-4848
     E-mail: hatillolaw@yahoo.com

                   About Mayansa Dreams Group

Mayansa Dreams Group LLC filed a Chapter 11 bankruptcy petition
(Bankr. D.P.R. Case No. 19-00062) on Jan. 8, 2019, estimating
under $1 million in both assets and liabilities.  The Debtor is
represented by Jaime Rodriguez Perez, Esq., at Hatillo Law Office,
PSC.


SKYTEC INC: Unsecured Creditors to Get 15% Under Chapter 11 Plan
----------------------------------------------------------------
Skytec, Inc., filed a plan of reorganization and accompanying
disclosure Statement.

Class 1 - The Secured Claims of Oriental Bank Puerto Rico are
impaired with estimated amount of allowed claim $2,026,902.06.
Estimated recovery is 100%.  Oriental's claims, secured by UCC
filings over the Debtor's cash accounts, trade accounts
receivable, inventories, intangibles, and substantially all of the
Debtor's personal property, will be paid in 72 equal consecutive
monthly payments of $12,786, with any arrears to be paid together
with a balloon payment of any unpaid principal balance, due on
December 31, 2025.

Class 2 - Holders of Pre-Petition Cure Claims against the Debtor,
arising from the assumption by the Debtor of Unexpired Executory
Contracts are impaired with estimated amount of allowed claim
$93,661.96.  Estimated recovery is 100%.  The Allowed Pre-Petition
Cure Claims arising from assumed executory contracts, will be paid
as follows:

   (a) The claim of FirstBank consisting of a lease agreement
secured by a Ford F-250SD 4x4, 2018, will continue to be paid in
accordance with the contractual terms for the lease, with monthly
payments of $1,003.00.

   (b) The claim of FirstBank consisting of a lease agreement
secured by an Acura MDX 2014, will continue to be paid in
accordance with the contractual terms for the lease, with monthly
payments of $1,164.00.

   (c) McGRATH RENT CORP (dba TRS-REN TELCO) lease for various
equipment will be paid in 6 equal consecutive monthly payments of
$1,011.54, commencing on the Effective Date.

Class 3 - Holders of Allowed General Unsecured Claims are impaired
with estimated amount of allowed claim $3,780,478.79. Estimated
recovery is 15%.  The Holders of Allowed General Unsecured Claims
shall be paid in full satisfaction of their claims, a pro-rata
dividend in the total amount of $567,072 to be paid as follows:
$200,000 on the Effective Date to be paid from the capital
contribution of the shareholders and $367,072 in 24 monthly
payments commencing one ear after the Effective Date. The $567,072
(the "Ceiling") dividend constitute a 15% dividend of the claims
expected to be allowed.

The Debtor's proposed dividend to the General Unsecured Claims
will be funded from the Debtor's normal operations, cash available
in the Debtor's DIP accounts, and the capital contributions of the
Debtor's shareholders of approximately $200,000. Payments to the
Holders of Allowed Administrative Expense Claims and Priority Tax
Claims, if any, will be paid from the cash accumulated in the
Debtor's DIP Accounts.

A full-text copy of the Disclosure Statement dated January 16,
2019, is available at https://tinyurl.com/ya9nlbwn from
PacerMonitor.com at no charge.

                     About Skytec Inc.

Skytec, Inc., is a privately-held company based in Puerto Rico tha
provides wireless telecommunication solutions.  Skytec sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. D.P.R.
Case No. 18-05288) on Sept. 12, 2018.  In the petition signed by
Henry L. Barreda, president, the Debtor disclosed $2,119,734 in
assets and $5,848,090 in liabilities.  Judge Enrique S. Lamoutte
Inclan presides over the case.  The Debtor tapped Fuentes Law
Offices, LLC as its legal counsel.



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


PETROLEUM CO: 50 Interested in Company Refinery
-----------------------------------------------
Leah Sorias at Trinidad Express reports that the Pointe-a-Pierre
oil refinery could reopen in the coming months.

This is according to Prime Minister Dr Keith Rowley, Trinidad
Express notes.

Mr. Rowley said that a request for proposal (RFP) was being
finalised for release to the international energy industry,
according to the report.

He said when finalized, a public notice will be issued inviting
bids, the report says.

The report notes that Mr. Rowley said selection of a successful
bidder will be completed by the end of June this year.

"This process could see the new holding company making a
recommendation to Government by mid-year, with this resulting in
reopening of refining operations sometime later on, without
taxpayer exposure," he stated, the report adds.

As reported in the Troubled Company Reporter-Latin America on
Sept. 28, 2018, Moody's Investors Service placed Petroleum Co. of
Trinidad & Tobago's B1 corporate family rating and senior
unsecured debt ratings on review for downgrade. This rating action
was based on the lack of clarity regarding Petrotrin's new
business profile and strategy as well as increasing liquidity risk
related to the approaching maturity of the 2019 bonds.



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


VENEZUELA: CARICOM Delegation Heading to Uruguay on Solving Crisis
------------------------------------------------------------------
Caribbean360.com reports that Caribbean Community (CARICOM)
Chairman Dr. Timothy Harris, Prime Minister of St. Kitts and
Nevis, will lead a regional delegation to Uruguay, where an
international conference focusing on the ongoing political
upheaval in Venezuela is set to convene on Feb. 7.

A joint statement from Mexico and Uruguay -- which have agreed,
along with CARICOM, to pursue peace talks to deal with the crisis
-- stated that the purpose of the conference will be to establish
the basis for a new dialogue mechanism that includes all the
forces in Venezuela, in order to help restore peace in that
country, according to Caribbean360.com.

The CARICOM delegation's trip to Uruguay follows on the heels of
its shuttle diplomacy at the United Nations, to advance dialogue
and negotiations for the benefit of the Venezuelan people, the
report notes.

Prime Minister Harris, as well as the Prime Minister of Trinidad
and Tobago, Dr. Keith Rowley, and the Prime Minister of Barbados
Mia Mottley, met with UN Secretary-General Antonio Guterres,
before holding a number of discussions with other global
stakeholders, including representatives of the African Union and
the European Union, the report relays.  At that meeting, Guterres
accepted the leaders' invitation for his good offices to be made
available to the people of Venezuela, the report notes.

CARICOM Heads of Government continued to demonstrate their resolve
in advancing a solution to the political crisis in Venezuela
during a meeting held via videoconference, which lasted several
hours, the report discloses.  It was their second special meeting
on Venezuela, the first was held on January 24, a day after
opposition leader Juan Guaido declared himself interim leader and
was immediately recognized by the United States among other
countries, the report says.

During that meeting, Heads of Government, Foreign Affairs
Ministers and other attendees, including representatives of the
CARICOM Secretariat, held the consensus that the mission to the UN
was extremely well put together and provided "sterling
representation by the region to the extent that we [CARICOM] now
have Mexico and Uruguay joining us in this exercise," the report
relays.

"We have a hopeful view for the people of Venezuela.  The same
peace that we are enjoying, they would be able to enjoy that
peace; the same ability to be able to participate in the
international marketplace, we want them to have that; the same
challenges that we ask our people to brace themselves for, to take
advantage, circumvent challenges and seize opportunities to ensure
the continuing growth and development, those same aspirations we
want for the people of Venezuela but importantly they have to want
them for themselves," said Prime Minister Harris, the report adds.

As reported in the Troubled Company Reporter-Latin America,
S&P Global Ratings in May 2018 removed its long- and short-term
local currency sovereign credit ratings on Venezuela from
CreditWatch with negative implications and affirmed them at
'CCC-/C'. The outlook on the long-term local currency rating is
negative. At the same time, S&P affirmed its 'SD/D' long- and
short-term foreign currency sovereign credit ratings on Venezuela.
S&P's transfer and convertibility assessment remains at 'CC'.


VENEZUELA: Armada of Tankers With Oil Forms in U.S. Gulf
--------------------------------------------------------
Collin Eaton and Marianna Parraga at Reuters report that a
flotilla loaded with about 7 million barrels of Venezuelan oil has
formed in the Gulf of Mexico, some holding cargoes bought ahead of
the latest U.S. sanctions on Venezuela and others whose buyers are
weighing who to pay, according to traders, shippers and Refinitiv
Eikon data.

The Trump administration's move to impose sanctions was meant to
undercut support for Venezuelan President Nicolas Maduro by
targeting the Latin American nation's oil exports to the United
States, the source of most of its foreign revenue, according to
Reuters.

The sanctions aim to block U.S. refiners from paying into PDVSA
accounts controlled by Maduro -- one reason numerous tankers are
waiting in limbo off Venezuela with payments unclear, the report
relays.  The United States buys 500,000 barrels of Venezuelan
crude per day, the report notes.

U.S. customers of Venezuela's state-run PDVSA are required by
sanctions to deposit payments into escrow accounts that have not
yet been set up, the report says.  The funds will be controlled by
Venezuelan congress head Juan Guaido, whom the United States, the
European Union and much of Latin America recognize as the
country's leader, the report notes.

Reuters says that there were over a dozen tankers this week
anchored in Gulf of Mexico or outside of Venezuelan waters,
according to the Refinitiv Eikon data, as shippers await payment
and delivery directions from buyers.

Traders said some of the cargoes were used as floating storage by
buyers who took advantage of PDVSA's open market sales ahead of
sanctions, the report discloses.  Others were held by trading
firms struggling to find refiners willing to take the oil due to
payment difficulties related to sanctions, the report says.

"There were many cargoes of Venezuelan crude already in the Gulf
when sanctions were announced," said a trader who deals with
PDVSA. Others are stuck because holders "cannot find who to sell
them to due to sanctions," the trader said, the report notes.

The tankers had been chartered by regular U.S. buyers of
Venezuelan oil, including Chevron Corp, PDVSA's refining unit
Citgo Petroleum and Valero Energy, and trading houses that sell to
refiners, the report relays.

"Everybody is still working through the mechanics of things, still
trying to figure out how freights are going to get paid and is
sitting on the sidelines waiting for this to roll out," said one
ship broker who was not authorized to speak publicly, the report
notes.

Separately, a few tankers that had waited for weeks to lift oil
bound for U.S. customers left the Venezuelan port of Jose over the
weekend without loading, according to Refinitiv data, the report
discloses.

The oil fleet in Gulf waters grew as a bottleneck earlier formed
around Venezuelan ports by tankers awaiting authorization to load,
the report relays.  PDVSA has said it will only sell to certain
customers that prepay for cargoes, the report notes.

Outside of U.S. waters, there were also tankers loaded with
Venezuelan crude and idling in the Caribbean and Europe, the
Refinitiv data shows, the report adds.

As reported in the Troubled Company Reporter-Latin America,
S&P Global Ratings in May 2018 removed its long- and short-term
local currency sovereign credit ratings on Venezuela from
CreditWatch with negative implications and affirmed them at
'CCC-/C'. The outlook on the long-term local currency rating is
negative. At the same time, S&P affirmed its 'SD/D' long- and
short-term foreign currency sovereign credit ratings on Venezuela.
S&P's transfer and convertibility assessment remains at 'CC'.


                            ***********


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 2019.  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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