/raid1/www/Hosts/bankrupt/TCRLA_Public/190513.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

          Monday, May 13, 2019, Vol. 20, No. 95

                           Headlines



C O L O M B I A

GRAN TIERRA: Fitch Rates New $300MM Unsec. Notes 'B(EXP)/RR4'


D O M I N I C A N   R E P U B L I C

DOMINICAN REPUBLIC: Hard Currency Could Boost Dairy Industry
PUNTA CATALINA PLANT: Saved TaxPayers US$10 Million


P U E R T O   R I C O

AMERICAN PARKING: Hires Carrasquillo as Financial Consultant
B & D ENTERPRISES: Banco Popular Bid to Transfer Property Nixed


V E N E Z U E L A

PETROLEOS DE VENEZUELA: 120-Day Stay Issued in Red Tree's US Cases


X X X X X X X X

[*] BOND PRICING: For the Week May 6 to May 10, 2019

                           - - - - -


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C O L O M B I A
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GRAN TIERRA: Fitch Rates New $300MM Unsec. Notes 'B(EXP)/RR4'
-------------------------------------------------------------
Fitch Ratings has assigned a 'B(EXP)'/'RR4' rating to Gran Tierra
Energy Inc.'s proposed USD300 million seven or eight year senior
unsecured notes. GTE expects to use the proceeds from the offering
to repay the outstanding amounts borrowed under the revolving
credit facility, capex, and for general corporate purposes, which
may include additional capital to appraise and develop exploration
discoveries, repayment of other indebtedness, working capital
and/or acquisitions of assets. Fitch currently rates Gran Tierra
Inc.'s wholly owned subsidiary, Gran Tierra Energy International
Holdings Ltd.'s Long-Term Foreign and Local Currency Issuer Default
Rating 'B' and its senior unsecured notes 'B'/'RR4'. The Rating
Outlook is Positive.

GTE's ratings incorporate a conservative capital structure and
low-cost operating profile, constrained by smaller scale and
limited geographic diversification. The Positive Outlook reflects
consistent annual growth of between four and five thousand barrels
of oil equivalent per day (boepd) over the last several years to an
average of 36,209 boe in fiscal 2018, and expanding geographic
diversification. Fitch's base case forecasts daily average gross
production to be 45,000 boe between 2019 and 2022.

KEY RATING DRIVERS

Expected Production Growth: Under Fitch's base case forecast, GTE
is expected to increase daily average production to above 45,000
boe by 2020 representing nearly 100% growth since 2015. In 2018,
the company's average production was 36,209 boepd with
approximately 95% of it concentrated in Putumayo and the Middle
Magdalena Basin. GTE's recent acquisition of working interests in
three blocks throughout Colombia for USD104.2 million should
immediately add approximately 2,200 boepd of production and 6.1
million boe of proved and probable reserves.

Strong Capital Structure: GTE finished 2018 with a strong debt
profile, reporting gross leverage of 1.0x and FFO to interest
coverage of 17.1x. Through the rating horizon, after the completion
of the proposed USD300 million senior unsecured notes, GTE should
maintain leverage average of 1.5x from 2019 through 2022 and FFO
interest coverage of 9.4x, which assumes the USD115 million
convertible notes is not tendered or repurchased, and the company
continues to fund investments with internal cash flow. Fitch
estimates that GTE will have an average cash flow from operations
of nearly USD370 million from 2019 through 2022, and average annual
capex over that time period of nearly USD200 million. In the event
GTE adopts a more aggressive development strategy, Fitch believes
it could result in additional debt, but the company continues to
have significant headroom at its current levels relative to its
rating category. GTE's 2018 issuance of USD300 million
significantly extended it maturity profile, further strengthening
GTE's ability to reinvest capital into increasing production and
reserve life.

Low Hydrocarbon Reserves: Fitch believes GTE's relatively low
reserve life of 5.0 years 1P reserves and 11.0 years proved and
probable (2P) reserves limits flexibility to reduce capex
investments. As of YE 2018, GTE's pro forma from the Vetra/VM-2
acquisitions reported Colombian 1P reserves of 70 million boe with
nearly 100% of production in oil. GTE has a strong concession life
with the earliest material concession expiring in 2033. This
concession currently accounts for approximately 22% of production.
Other concessions have longer expiration dates.

Investment Requirements Pressure Liquidity: Fitch's base case
expects neutral to positive FCF through the medium term providing
GTE the flexibility to increase capex and or make acquisitions in
order to improve its reserve life, which Fitch deems an inhibiting
factor of its rating, when compared to other 'B' category rated
peers. In 2018, GTE had negative FCF of USD116 million with USD400
million of capex (+40% yoy). Fitch anticipates capex of around
USD350 million in 2019, not including the aforementioned
acquisitions in Llanos, Suroriente and Putumayo, estimated to be
USD90 million. Between 2020 and 2022, Fitch forecast approximately
USD420 million of capex with resulting average cash balance of
roughly USD500 million between 2021-2022.

DERIVATION SUMMARY

GTE's credit profile compares well with other small, independent,
oil and gas companies in the region. Ratings for Frontera Energy
Corporation (B+/Negative), GeoPark Limited (B+/Stable) and Compania
General de Combustibles S.A. (CGC; B/Negative) are constrained to
the 'B' category, given the inherent operational risk associated
with small scale and low diversification production profiles.

GTE's capital structure and liquidity are comparable with its
independent oil and gas peers. As of YE 2018, leverage stood at
1.0x, with cash of USD84 million. Regional peers have comparable
leverage with GeoPark reporting 1.4x as of fiscal 2018 and Frontera
reporting 0.8x. GeoPark's cash balance was USD128 million, and
Frontera's was USD485 million. These capital structures are
considered strong for their rating category.

GTE's gross production profile is in line with some of its higher
rated peers with approximately 36,000 boepd but continues to be
constrained by its relatively low 1P reserve life of 5.0 years as
of YE 2018. GeoPark's annual production was around 36,000 boepd on
8.6 years of 1P reserve life. CGC's average production in 2018 was
above 30,000 boepd with reserve life of 6.2 years. Although GTE
remains smaller than Frontera, the companies' net production
profiles have seen distinct trajectories as GTE has grown from
23,400 boepd in 2015 to approximately 36,200 boepd in 2018, and is
expected to reach production of around 41,000 boepd in 2019. During
the same period, Frontera's production has fallen from 102,000
boepd to 58,000 boepd, with a current target of 60,000 boepd-65,000
boepd. At present levels, Frontera's reserve life is comparable to
GTE with 1P reserves of 5.0 years, but recovery in production would
likely push reserve life below five years.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within Its Rating Case for the Issuer

  -- Fitch's price deck for Brent of 65 per barrel (bbl) for 2019,
     USD62.50/bbl for 2020, USD60/bbl for 2021, and USD57.50bbl
     for the long term;

  -- Average gross production of 46,000 boe from 2019 to 2022;

  -- Total capex of USD 770 million 2019 through 2022 with an
     average annual investments/capex of USD190 million over
     the rating horizon;

  -- USD 115 million convertible notes remain outstanding
     during the rated horizon;

  -- No acquisition during 2019-2022;

  -- No dividends paid during 2019-2022.

Key Recovery Rating assumptions:

  -- Recovery analysis assumes GTE would be liquidated in
     bankruptcy. Fitch assumed a 10% administrative claim;

  -- Liquidation approach:

  -- The liquidation estimate reflects Fitch's view of
     the value of inventory and other assets that can be
     realized in a reorganization and distributed to
     creditors;

  -- The 50% advance rate is typical of inventory liquidations
     for the oil and gas industry;

  -- The USD10/bbl estimate reflects the typical valuation of
     recent reorganizations in the oil and gas industry. The
     waterfall results in a 100% recovery corresponding to
     an 'RR1' for the senior unsecured notes of USD300
     million. The RR is limited, however, to 'RR4' due to
     the soft cap for Colombia.

RATING SENSITIVITIES

Developments That May, Individually or Collectively, Lead to
Positive Rating Action

-- Net production between 30,000 boepd-35,000 boepd on a
    sustained basis, combined with an increase in reserve size
    at or above 6.5 years and continued expansion of its
    geographic footprint;

-- Sustained conservative capital structure and investment
    discipline, including improvement in debt-to-1P reserves
    of $5/bbl or lower.

Developments That May, Individually or Collectively, Lead to
Negative Rating Action

-- Gross production declines to below 30,000 boepd;

-- A deterioration of capital structure and liquidity as a
    result of either a steeper than anticipated decline in
    production or a marked increase in debt;

-- A significant reduction in the reserve replacement
    ratio could affect GTE's credit quality, given the
    current proved reserve life of approximately five years.

LIQUIDITY

Adequate Liquidity: Although it is constrained by the GTE's
significant investment requirements, Fitch believes the company has
adequate liquidity through the medium term. Fitch anticipates
approximately USD200 million of cash on hand annually between 2019
through 2020, with largely neutral to negative FCF through the
investment cycle. This compares with USD47 million of annual
interest expense, and limited maturities through the medium term.

FULL LIST OF RATING ACTIONS

Gran Tierra Energy International Holdings Ltd.

Fitch currently rates the following:

  -- Long-Term Foreign Currency Issuer Default Rating (IDR) 'B';

  -- Long-Term Local Currency IDR 'B';

  -- Senior unsecured debt issued by Gran Tierra Energy
     International Holding Ltd. 'B'/'RR4'.

Fitch has assigned the following rating:

  -- Proposed USD300 million senior unsecured notes issued
     by Gran Tierra Energy Inc. rated at 'B(EXP)'/'RR4'.

The Rating Outlook remains Positive.




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

DOMINICAN REPUBLIC: Hard Currency Could Boost Dairy Industry
------------------------------------------------------------
Dominican Today reports that a study by The Economic Commission for
Latin America and the Caribbean (ECLAC) noted that hard currency
promote financial inclusion and have the potential to boost
productive development in the dairy sector in the Dominican
Republic.

The study, captioned "Strengthening the dairy value chain in the
Dominican Republic," was presented to the Dominica's Industry and
Commerce Ministry. It was conducted under the auspices of the
International Fund for Agricultural Development (IFAD) and with the
collaboration of Industry and Commerce and the dairy industry
regulator, Conaleche.

The study encourages public and private financial institutions to
promote policies for dairy producers to invest part of their
earnings in hard currency to bolster and develop their business,
according to Dominican Today.

The study shows that the bulk of hard currency received by the
dairy sector is used for consumption (food, health, education), but
researchers propose turning that income into an incentive for
remitters and recipients as well, the report adds.

As reported in the Troubled Company Reporter-Latin America in
September 2018, Fitch Ratings affirmed Dominican Republic's
Long-Term, Foreign-Currency Issuer Default Rating (IDR) at 'BB-'
with a Stable Outlook.


PUNTA CATALINA PLANT: Saved TaxPayers US$10 Million
---------------------------------------------------
Dominican Today reports that in the test phase thus far the Punta
Catalina Power Plant has saved taxpayers RD$500 million (US$10
million), generating up to 385 megawatts.

State Electric Utility (CDEEE) CEO Ruben Jimenez Bichara told
reporters that Punta Catalina's second generator will come on line
in October, also with a 385-megawatt output, according to Dominican
Today.

"Currently, 300MW are being generated in this first plant in a
period that continues to be a test.  The second plant will be
generating 300 megawatts and more in October. The number two should
be in five months as the number one is today," he said, the report
notes.

Jimenez Bichara said that in the next four to five years, the
Dominican Republic will need as much as 900 new megawatts to meet
the demand, the report relays.

                 About Punta Catalina Plant

The Punta Catalina Thermoelectric Power Plant is a 770-megawatt
coal-fired power plant in Punta Catalina-Hatillo, Dominican
Republic.  The construction of the plant is under the charge of the
Odebrecht-Tecnimont-Estrella consortium (a contractor group
composed of Italian company Maire Tecnimont SpA, Brazilian
contractor Construtora Norberto Odebrecht S.A, and Chile-based
Ingenieria Estrella SRL). Groundbreaking for the project,
estimated to cost US$2 billion, was held in late 2013.  Unit 1 of
the Power Plant became operational on Feb. 27, 2019, with an
initial 36.5 megawatts to the national grid (SENI).

The Project has had its shares of financing delays and funding
scandal.  In February 2017, a U.S. court discovered that main
contractor Odebrecht had paid $92 million in bribes to Dominican
officials between 2001 and 2014, as a means of securing a number of
contracts, including the contract to build the Punta Catalina
plant. The project's staff have pleaded with politicians to stand
behind continued construction work on the plant, despite the
corruption allegations. Some environmental groups also opposed the
plant construction, citing harmful impact on the Caribbean coasts
and climate in general.

The plant's parent company and sponsor is the Dominican Republic's
state electric utility, Corporacion Dominicana de Empresas
Electricas Estatales (CDEEE).




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

AMERICAN PARKING: Hires Carrasquillo as Financial Consultant
------------------------------------------------------------
American Parking System, Inc., seeks authority from the U.S.
Bankruptcy Court for the District of Puerto Rico to employ CPA Luis
R. Carrasquillo & Co., P.S.C., as financial advisor to the Debtor.

American Parking requires Carrasquillo to:

   a. assist in obtaining the necessary data for the preparation
      of Voluntary Chapter 11 Bankruptcy Petitions;

   b. assist in obtaining the necessary financial information to
      complete the Chapter 11 Schedules and Statement of
      Financial Affairs;

   c. assist in the preparation of all financial data to be
      presented to the U.S. Trustee Office within the first 15
      days after the filing. This data will be used for the
      Initial Debtor's Interview and the 11 U.S.C. Section 341
      Meeting of Creditors;

   d. prepare financial projections and cash flows statements
      together with Accountants' Compilation Report therein;

   e. prepare Liquidation Analysis for the Bankruptcy Court along
      with its related Notes and Accountants' Report. This may
      include a valuation of the reorganized business on a
      distressed scenario and after the reorganization;

   f. assist the Debtors' Counsels in the preparation of the Plan
      of Reorganization, Disclosure Statement, and all the
      related documents for the Bankruptcy Court;

   g. assist the Debtors' Counsels in the efforts to restructure
      banks debts, obtain new financing sources, and any
      Debtor-In-Possession or post-petition financing; and

   h. litigate support as specialized financial witness. Assist
      the Debtors' Counsels in any litigation that may arise
      during the course of the reorganization that may require
      financial and accounting testimony and litigation support.

Carrasquillo will be paid at these hourly rates:

     Partners                    $175
     Senior Accountant           $85-$125
     Staffs                      $45

Carrasquillo will be paid a retainer in the amount of $15,000.

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

Luis R. Carrasquillo, a partner at CPA Luis R. Carrasquillo & Co.,
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.

Carrasquillo can be reached at:

     Luis R. Carrasquillo
     CPA LUIS R. CARRASQUILLO & CO., P.S.C.
     28th Street, TI-26
     Caguas, PR 00725
     Tel: (787) 746-4555
     Fax: (787) 746-4564
     E-mail: luis@cpacarrasquillo.com

                 About American Parking System

Headquartered in San Juan, Puerto Rico, American Parking System
owns and manages parking lots.  The Company previously sought
bankruptcy protection (Bankr. D.P.R. Case No. 16-02761) on April 8,
2016.

American Parking System, filed a Chapter 11 petition (Bankr. D.P.R.
Case No. 19-02243) on April 24, 2019.  In the petition signed by
Miguel A. Cabral Veras, president, the Debtor estimated $10 million
to $50 million in both assets and liabilities.  Alexis
Fuentes-Hernandez, Esq., at Fuentes Law Offices, LLC, serves as
bankruptcy counsel to the Debtor.


B & D ENTERPRISES: Banco Popular Bid to Transfer Property Nixed
---------------------------------------------------------------
Bankruptcy Judge Brian K. Tester denied Banco Popular de Puerto
Rico's Motion for Entry of Order for the Transfer of Property and
the Cancellation of Pre-Transfer Date Liens and Other Particulars
Under the Confirmed Plan of Reorganization.

The court finds that Banco Popular de Puerto Rico's liens were
extinguished upon the confirmation of the chapter 11 Plan. As such,
Debtor B & D Enterprises SE does not have to tender the properties
to Banco Popular. Since the Stipulation confirmed through the Plan
is binding and enforceable on the signatory parties, they must all
abide by the terms and provisions established.

A copy of the Order dated April 17, 2019 is available at
https://tinyurl.com/yxn87bxw from Pacermonitor.com at no charge.

The bankruptcy case is in re: B & D ENTERPRISES SE, Case No.
16-00978 BKT (Bankr. D.P.R.).




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

PETROLEOS DE VENEZUELA: 120-Day Stay Issued in Red Tree's US Cases
------------------------------------------------------------------
Reuters reports that a U.S. court granted on May 6, 2019, a 120-day
stay in a legal battle between a hedge fund and Venezuela's
state-run oil company, Petroleos de Venezuela S.A. (PDVSA), over
unpaid debt in light of the country's "political situation."

The move will delay proceedings in two suits brought by Red Tree
Investments against PDVSA in New York courts for $182 million for
allegedly defaulting on four loan agreements, according to Reuters.
The ruling could set a precedent for other suits against PDVSA and
Venezuela's government, which together have defaulted on some $8
billion in debt, the report notes.

"I expect that this precedent in the NY courts will help to grant a
stay in other claims," said special prosecutor Jose Ignacio
Hernandez in a text message, Reuters relays. Mr. Hernandez has been
tapped by Venezuelan opposition leader Juan Guaido with
representing the country overseas, the report relays.

Mr. Guaido in January invoked Venezuela's constitution to assume an
interim presidency, arguing President Nicolas Maduro's 2018
re-election was illegitimate, Reuters notes. Guaido has been
recognized by the United States and most Western countries as the
South American nation's rightful leader, the report cites.

But Maduro, a socialist who calls Guaido a U.S.-backed puppet
seeking to oust him in a coup, retains control of state functions.


Lawyers for Guaido had requested the stay since Guaido cannot
"access the personnel and documents of the government and its
instrumentalities," the report notes.

Daniel Salinas, an attorney for Red Tree, declined to comment on
the ruling, Reuters says. Red Tree had previously argued that
granting the stay would amount to an "indefinite delay," the report
cites.

The report discloses that Mr. Guaido is also seeking a stay in a
court battle brought by Canadian mining company Crystallex, which
is attempting to seize shares in U.S. refiner Citgo, a PDVSA
subsidiary, to collect on an arbitration award in compensation for
Venezuela's expropriation of a gold mining project.

Separately, his legal representatives are seeking to annul an $8.7
billion arbitration award to U.S. oil producer ConocoPhillips, also
as compensation for expropriation, the report adds.

As reported in the Troubled Company Reporter-Latin America on Aug.
24, 2018, S&P Global Ratings affirmed its 'SD' global scale issuer
credit rating and 'D' issue-level ratings on Petroleos de Venezuela
S.A. (PDVSA).




===============
X X X X X X X X
===============

[*] BOND PRICING: For the Week May 6 to May 10, 2019
----------------------------------------------------
  Issuer Name              Cpn     Price   Maturity  Country  Curr
  -----------              ---     -----   --------  -------   ---

MIE Holdings Corp          7.5    56.2    4/25/2019    HK     USD
Cia Latinoamericana de     9.5    73.9    7/20/2023    AR     USD
China Huiyuan Juice Gr     6.5    46.6    8/16/2020    CN     USD
Yida China Holdings Lt     7.0    74.3    4/19/2020    CN     USD
Noble Holding Internat     5.3    60.5    3/15/2042    KY     USD
YPF SA                    16.5    67.3     5/9/2022    AR     ARS
Noble Holding Internat     6.2    62.2     8/1/2040    KY     USD
Odebrecht Finance Ltd      7.0    17.0    4/21/2020    KY     USD
Banco Macro SA            17.5    65.2     5/8/2022    AR     ARS
KrisEnergy Ltd             4.0    40.4     6/9/2022    SG     SGD
Noble Holding Internat     6.1    62.0     3/1/2041    KY     USD
USJ Acucar e Alcool SA     9.9    74.0    11/9/2019    BR     USD
Avadel Finance Cayman      4.5    55.0     2/1/2023    US     USD
Odebrecht Finance Ltd      6.0    16.4     4/5/2023    KY     USD
Argentine Republic Gov     6.9    75.2    1/11/2048    AR     USD
Polarcus Ltd               5.6    71.8     7/1/2022    AE     USD
Argentine Republic Gov     8.3    74.5   12/31/2033    AR     USD
MIE Holdings Corp          7.5    56.4    4/25/2019    HK     USD
Automotores Gildemeist     8.3    54.2    5/24/2021    CL     USD
YPF SA                    16.5    67.3     5/9/2022    AR     ARS
Provincia del Chubut A     4.5    2208    3/30/2021    AR     USD
Argentine Republic Gov     4.3    70.0   12/31/2033    AR     JPY
Automotores Gildemeist     6.8    54.9    1/15/2023    CL     USD
Cia Latinoamericana de     9.5    74.3    7/20/2023    AR     USD
Enel Americas SA           5.8    32.7    6/15/2022    CL     CLP
Banco Macro SA            17.5    65.2     5/8/2022    AR     ARS
Provincia de Rio Negro     7.8    70.3    12/7/2025    AR     USD
Odebrecht Finance Ltd      6.0    16.4     4/5/2023    KY     USD
Province of Santa Fe       6.9    75.2    11/1/2027    AR     USD
Odebrecht Finance Ltd      7.0    16.5    4/21/2020    KY     USD
Province of Santa Fe       6.9    74.7    11/1/2027    AR     USD
Embotelladora Andina S     3.5    37.9    8/16/2020    CL     CLP
USJ Acucar e Alcool SA     9.9    74.0    11/9/2019    BR     USD
Argentine Republic Gov     8.3    72.9   12/31/2033    AR     USD
Empresa Provincial de     12.5     0.0    1/29/2020    AR     USD
Cia Energetica de Pern     6.2     1.1    1/15/2022    BR     BRL
Provincia de Buenos Ai     7.9    75.3    6/15/2027    AR     USD
AES Tiete Energia SA       6.8     1.2    4/15/2024    BR     BRL
Provincia de Rio Negro     7.8    70.4    12/7/2025    AR     USD
Argentine Republic Gov     0.5    27.6   12/31/2038    AR     JPY
Plaza SA                   3.5    38.3    8/15/2020    CL     CLP
Banco Security SA          3.0     5.6     7/1/2019    CL     CLP
Argentina Bonar Bonds      5.8    75.2    4/18/2025    AR     USD
Corp Universidad de Co     5.9    64.2   11/10/2021    CL     CLP
City of Cordoba Argent     7.9    73.1    9/29/2024    AR     USD
Automotores Gildemeist     8.3    54.2    5/24/2021    CL     USD
Provincia de Cordoba       7.1    72.7     8/1/2027    AR     USD
Argentine Republic Gov     6.3    74.1    11/9/2047    AR     EUR
Provincia del Chaco Ar     4.0     0.0    12/4/2026    AR     USD
Fospar S/A                 6.5     1.2    5/15/2026    BR     BRL
Empresa de Transporte      4.3    30.9    7/15/2020    CL     CLP
Argentina Bonar Bonds      7.6    74.4    4/18/2037    AR     USD
Automotores Gildemeist     6.8    54.9    1/15/2023    CL     USD
SACI Falabella             2.3    50.6    7/15/2020    CL     CLP
Sylph Ltd                  2.4    65.1    9/25/2036    KY     USD
Banco Security SA          3.0    27.4     6/1/2021    CL     CLP
Empresa Electrica de l     2.5    63.8    5/15/2021    CL     CLP
Sociedad Austral de El     3.0    17.0    9/20/2019    CL     CLP
Provincia del Chaco Ar     9.4    74.8    8/18/2024    AR     USD
Argentine Republic Gov     7.1    75.7    6/28/2117    AR     USD
Provincia de Cordoba       7.1    74.7     8/1/2027    AR     USD
Metrogas SA/Chile          6.0    41.6     8/1/2024    CL     CLP
Esval SA                   3.5    49.9    2/15/2026    CL     CLP



                           *********


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.
.


                  * * * End of Transmission * * *