/raid1/www/Hosts/bankrupt/TCRLA_Public/190523.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

          Thursday, May 23, 2019, Vol. 20, No. 103

                           Headlines



A N T I G U A   A N D   B A R B U D A

LIAT: No Word From Chairman on Airline's Next Move


A R G E N T I N A

ARGENTINA: Ex-President's Corruption Trial Gets Under Way
METROGAS SA: S&P Cuts GSR to 'CCC-' on Increasing Refinancing Risk


B R A Z I L

RODOVIAS DO TIETE: Moody's Cuts CFR to Ca, Outlook Neg.
TRANSMISSORA ALIANCA: Moody's Rates New BRL1.06BB Debentures 'Ba1'
VRIO CORP: S&P Withdraws 'BB' Long-Term Issuer Credit Rating


D O M I N I C A N   R E P U B L I C

DOMINICAN REPUBLIC: Reclassification Aims Lower Wages, Unions Say


J A M A I C A

JAMAICA: Businesses Support New States of Emergency in 3 Parishes


M E X I C O

MEXICO: To Auction Lamborghini, Other Seized Assets to Help Poor


V E N E Z U E L A

PETROLEOS DE VENEZUELA: Seizure of Assets Endangers Kids' Lives

                           - - - - -


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A N T I G U A   A N D   B A R B U D A
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LIAT: No Word From Chairman on Airline's Next Move
--------------------------------------------------
Barbados Today reports that as speculations continue to soar about
the future of troubled airline, LIAT Ltd. Chairman Jean Holder is
remaining mum on the latest developments.

He told Barbados Today one thing was certain, and that is
"officials are working assiduously to keep the island-hopping
carrier in the skies."

For the past several weeks, LIAT's management, shareholder
Government representatives, and other key stakeholders have been
engaging in talks, as they hammer out a plan to keep the
cash-strapped carrier operational, the report notes.

The report discloses that the discussions have centered around the
need for all territories served by LIAT to contribute through a
Minimum Revenue Guarantee model.

While pilots have already agreed to a pay cut, this has not gone
far enough, with officials indicating that the airline is in urgent
need of about US$5.4 million to keep it going, the report says.

Mr. Holder, who appeared unperturbed about any possibility of any
imminent closure of the airline, told Barbados Today he was aware
of several regional carriers that started over the years and ceased
to exist today, while LIAT was celebrating 63 years this year.

Virgin Atlantic Founder and CEO Sir Richard Branson is also said to
be interested in investing in the struggling airline, the report
relays.  Mr. Holder however told  Barbados Today he has received
nothing in writing to support that interest.

Barbados, which is a 49 per cent shareholder in LIAT, has about 116
weekly departures, and is being asked to contribute US$1.614
million, while Antigua and Barbuda, where the airline is based, has
69 departures and is being asked to contribute US$960,310, the
report notes.

St Vincent and the Grenadines has 52 departures and will contribute
US$723,711; Grenada will contribute US$487,113, considering its 35
weekly departures; and Dominica, which has 25 weekly flights, is
being asked to contribute US$347,938, the report cites.

Like Mr. Holder, Prime Minister Mia Mottley and Reifer-Jones have
so far opted not to comment on any proposed share purchases or
private investment in the airline, the report adds.

                         About LIAT

LIAT Ltd., formerly known as Leeward Islands Air Transport or LIAT,
is an airline headquartered on the grounds of V. C. Bird
International Airport in Antigua.  It operates high-frequency
inter-island scheduled services serving 15 destinations in the
Caribbean.  The airline's main base is VC Bird International
Airport, Antigua and Barbuda, with bases at Grantley Adams
International Airport, Barbados and Piarco International Airport,
Trinidad and Tobago.

The airline is owned by seven Caribbean governments, with three
being the major shareholders: Barbados, Antigua & Barbuda and St.
Vincent and the Grenadines along with Dominica(94.7 %); other
Caribbean governments, private shareholders and employees (5.3%).

In the last few years, LIAT has been challenged with financial
difficulties, often needing additional funding as the airline dealt
with the high cost of operations.  In November 2016, the Barbados
government defended LIAT's operations, even as opposition
legislators called for a cessation of the business.  In early 2015,
LIAT offered early retirement packages to employees in efforts to
downsize.  In 2014, LIAT knew it had to deal with unprofitable
routes to make operations viable.  In the third quarter of 2013,
the airline's top management was shaken, with news Chief Executive
Officer Captain Ian Brunton's sudden resignation.

LIAT's current chief executive officer is Julie Reifer-Jones,
chairman is Jean Holder, and chief financial officer is Rojer
Inglis.

Dr. Ralph Gonsalves, prime minister of St. Vincent & the
Grenadines, serves as chairman of LIAT shareholders.




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A R G E N T I N A
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ARGENTINA: Ex-President's Corruption Trial Gets Under Way
---------------------------------------------------------
EFE News reports that Argentine ex-President Cristina Fernandez
faces charges of diverting public funds and accepting kickbacks in
a trial that got under way in a Buenos Aires courthouse.

Ms. Fernandez, who is now a senator, is accused of leading a
criminal conspiracy during her 2007-2015 presidency and
fraudulently steering 52 road-construction contracts valued at
ARS46 billion (around US$1 billion) in the southern province of
Santa Cruz to the Austral group owned by businessman and family
friend Lazaro Baez, who has been jailed on money-laundering charges
since 2016, according to EFE News.

                          About Argentina

As reported in the Troubled Company Reporter-Latin America, S&P
Global Ratings in June 2018 affirmed its 'B+' long-term sovereign
credit ratings on the Republic of Argentina. S&P's long-term
sovereign credit ratings on Argentina was raise to 'B+' from 'B' in
October 2017. The outlook on the long-term ratings remains stable.

In May 2018, Fitch Ratings affirmed Argentina's Long-Term
Foreign-Currency Issuer Default Rating (IDR) at 'B' and revised the
Outlook to Stable from Positive.

In December 2017, Moody's Investors Service 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.

Back in July 2014, Argentina defaulted on some of its debt, 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.


METROGAS SA: S&P Cuts GSR to 'CCC-' on Increasing Refinancing Risk
------------------------------------------------------------------
S&P Global Ratings, on May 20, 2019, lowered its global scale
rating on Argentina-based gas distribution company Metrogas S.A. to
'CCC-' from 'CCC+'.

The downgrade reflects S&P's view that Metrogas is facing
significant liquidity pressures, with more than $55 million debt
maturities within the next six months. This factor, combined with
the volatile market conditions in Argentina, limits the company's
financial flexibility and increases the risk of a default, which
could ultimately be in the form of a conventional default, a
distressed debt exchange, or a similar de-facto restructuring.

On Feb. 28, 2019, Metrogas made the first principal payment on its
$250 million syndicated bank loan from Industrial and Commercial
Bank of China (A/Stable/A-1) and Itau Unibanco Holding S.A.
(BB-/Stable/B). The company paid the first installment with
proceeds from a $14 million, Argentine peso-denominated debt that
the company issued in the domestic market in late December 2018.
From now on, the company will face eight additional quarterly
installments of about $28 million, with the upcoming ones on May
28th and August 28th. S&P doesn't expect Metrogas to meet the
amortizations, while it covers the mandatory capital expenditures
(capex) with its own cash flows. Therefore, in order to refinance
its debt, the company depends on positive events over which
Metrogas has no control.

Considering the short-term refinancing risks, S&P continues to view
Metrogas as having a weak liquidity. At this point, the company has
insufficient resources to cover the amortization of its syndicated
loan, especially considering its limited financial flexibility amid
Argentina's currently difficult market conditions.




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B R A Z I L
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RODOVIAS DO TIETE: Moody's Cuts CFR to Ca, Outlook Neg.
-------------------------------------------------------
Moody's America Latina has downgraded Concessionaria Rodovias do
Tiete S.A.'s ("Rodovias do Tiete" or "the company") CFR (corporate
family ratings) and senior secured ratings to Ca/Ca.br from
Caa2/Caa2.br on the global and the Brazilian national scales (NSR)
respectively. The outlook remains negative.

RATINGS RATIONALE

The downgrade reflects Moody's views of an increased probability of
default that would also cause a higher loss for creditors. Moody´s
notes that the ongoing debt restructure negotiation between
creditors and shareholders that started on July 2017 has not
reached any solution so far which creates additional pressure on
the company´s liquidity and ability to honor its debt service.
Moody's said, "We now see a high risk that Rodovias do Tiete will
not be able to meet upcoming debt payments from June 2019 onwards
given the growing principal amortization schedule and pending
capital investment obligations' pick up. Our forecasts indicate the
cash generation from 2019-2023 will be insufficient, by at least
BRL 500 million, to cover debt service and allow the concession to
meet its capex requirements timely. Recent traffic performance has
remained below original expectations, and we now note much weaker
support from Rodovias do Tiete's main shareholders. These
considerations materially weigh on our recovery expectations given
the reduced ability that the company has to address the problems
related to its capital structure in a way that doesn't impact
debenture holders."

Moody's also see a risk around the annual renovation, due in June
2019, of the mandatory insurance that the company must have in
place. The insurance is a basic requirement under the concession
contract that if not performed can lead to early termination of the
concession as delays in the capex plan also can.

What Could Change the Rating - Up /Down

In light of the latest rating action and the negative outlook, an
upgrade of the ratings is unlikely in the near term. While
unexpected, a debt restructuring result with lower loses to
creditors could prompt Moody's to review the ratings as would a
significant improvement in the company´s liquidity and leverage
levels.

Further deterioration of the company's liquidity position would
negatively affect the ratings as would a debt restructuring that
infers higher than expected loses to creditors. Failure to comply
with all obligations under the concession on a timely manner would
add negative pressure on the ratings.

Rodovias do Tiete holds a 30-year toll road concession granted by
ARTESP in April 2009 to expand, operate and maintain a 415 km toll
road system composed by five roads located in the State of Sao
Paulo: SP-101 (Rodovia Jornalista Francisco Aguirra Proença),
SP-113 (Rodovia Dr. Joao Jose Rodrigues), SP-308 (Rodovia
Comendador Mario Dedini), SP-300 (Rodovia Marechal Rondon) e SP-209
(Rodovia Prof. Joao Hipólito Martins). The service area includes
25 municipalities, where the largest cities are Bauru, Campinas,
and Piracicaba, with a diversified traffic profile, mainly composed
by agricultural, industries and commuters. Heavy traffic accounts
for around 55% of total equivalent vehicles (VEQ) with light
vehicles representing the remaining 45%.

In the last twelve months ended December 2018, the company
registered Moody´s- adjusted BRL 227 million Net Sales and EBITDA
of BRL 138 million (including insurance indemnification) with total
debt of BRL1.47 billion. Rodovias do Tiete is owned by a joint
venture of Atlantia Bertin Concessoes S.A. (50%) and the Portuguese
Lineas International Holdings B.V. (50%). Atlantia-Bertin
Concessoes is a joint venture between Italian toll-road operator
Atlantia S.p.A (Baa3, negative) and Brazil's Grupo Bertin (not
rated).


TRANSMISSORA ALIANCA: Moody's Rates New BRL1.06BB Debentures 'Ba1'
------------------------------------------------------------------
Moody's America Latina Ltda. assigned a Ba1 global scale rating and
a Aaa.br national scale rating to Transmissora Alianca de Energia
Eletrica (Taesa)'s planned issuance of BRL1.06 billion debentures,
comprising a BRL850 million senior unsecured tranche (1st Series)
with final maturity in May 2026 and a BRL210 million senior secured
tranche (2nd Series) with final maturity in May 2044. Proceeds from
this issuance will be used to strengthen the company's cash
position (1st Series) and to support investments (2nd Series).
Taesa's Ba1/Aaa.br corporate family ratings (CFR) are unaffected by
this rating action. The outlook remains stable.

RATINGS RATIONALE

The Ba1/Aaa.br ratings assigned to the proposed debentures take
into consideration Taesa's: (i) large scale and high asset
diversification; (ii) its predictable cash flows supported by long
term concessions remunerated with availability based payments;
(iii) the adequate credit metrics for the rating category evidenced
by a Net Debt to EBITDA lower than 3.5x, on a pro forma basis for
this transaction; and (iv) its robust liquidity position in face of
a comfortable refinancing profile.

Constraining Taesa's credit profile are: (i) the exposure to cost
overruns and execution risks related to its portfolio of assets
under construction through March 2023, (ii) the expected reduction
in regulated revenues on certain existing assets between 2019 and
2021, as per their concessions contracts; and (iii) a track record
of high dividend payouts above 90% net income generation which
absorbs a material part of cash flow generation. Moody's views
Taesa's credit profile linked to that of the Government of Brazil
(Ba2 stable) to the extent that the company is exposed to the same
economic revenue base and subject to government policies.

Proceeds from the BRL850 million senior unsecured debentures (1st
series) will be used to strengthen Taesa's cash position to support
its current businesses and to fund recent acquisitions. Last
December, Taesa announced an agreement for the acquisition of
ownership interests in four operating transmission assets from
Ambar Energia totaling 1,227 kilometers for a total price of
BRL942.5 million. In September 2018, Taesa has also participated in
an auction held by Centrais Eletricas Brasileiras SA-Eletrobras
(Ba3 stable) to acquire additional equity stakes in five operating
transmission companies for an approximately BRL200 million. These
transactions are subject to the fulfilment of certain conditions
precedent, for which we expect completion during the first half of
2019.

The BRL210 million senior secured debentures (2nd series) will be
issued in the form of infrastructure debentures pursuant to law
12,431. Proceeds from this series used for capital investments and
expenses related to the greenfield transmission projects of Mariana
Transmissora de Energia Eletrica S.A. (Mariana), Miracema
Transmissora de Energia S.A (Miracema) and Sant'Ana, Transmissora
de Energia S.A. (Sant'Ana), which are full subsidiaries of Taesa.
Mariana project has been awarded to Taesa in 2013, comprising 85
kilometers of transmission lines and two substations in the state
of Minas Gerais. Miracema was award to Taesa in 2016, comprising 90
kilometers and two transmission lines in the state of Tocantins.
Sant'Ana has been awarded in 2018, comprising four transmission
lines totaling 587 kilometers and two substations in the state of
Rio Grande do Sul. Together those three projects comprise total
investments of around BRL1.1 billion. Proceeds from the 2nd series
will support the pending capital spending requirements at Mariana
and Miracema for project completion until December 2019 and the
initial development costs of the Sant'Ana project. Once operating,
Mariana and Miracema new assets are expected to add approximately
BRL77 million to the company's contracted Annual Permitted Revenues
(RAP) in updated values for the 2018-2019 cycle. Sant'Ana's assets
expected to add a RAP of approximately BRL59 million, but the
project is scheduled for completion only in 2022.

The second series will further benefit from a security package that
includes: (i) a pledge of Taesa's shares from Mariana and Miracema;
(ii) a fiduciary assignment of the future receivables from these
two companies; (iii) the rights over their concession agreements;
and (iv) a fiduciary assignment of the deposits in the centralizing
accounts and the debt service reserve account that will maintain a
minimum cash balance to cover the next debt service on this series.
The security package does not include rights or receivables from
the Sant'Ana concession. Moody's acknowledges the additional credit
benefit of the securities assigned to the second series to enhance
the expected recovery for its creditors in an event of default.
However, the global scale rating assigned to this tranche is
constrained in Moody's rating scale by Taesa's intrinsic credit
linkages to Brazil's credit quality given its regulated nature and
regional customer base.

On a pro-forma basis of the transaction, Taesa's secured debt will
represent less than 5% of its total debt outstanding. As such,
Taesa's consolidated credit profile will continue to encompass a
predominantly senior unsecured capital structure. The debentures
will be issued at the holding company level, but will benefit from
the substantial cash flow generated by assets directly integrated
at the parent level which together account for over 95% of Taesa's
asset base and cash flows, thus mitigating the structural
subordination of the debentures.

Taesa has recently accelerated its growth strategy through
greenfield investments and acquisitions that will strengthen the
company's business profile through the increase of revenues
diversification and dilution of its exposure to other mature
concessions experiencing revenue reductions in the near term. On
the other hand, Moody's anticipates a temporary deterioration of
Taesa's credit metrics, as illustrated by a drop in the Funds from
Operations (FFO) to Net Debt to 23% -25% over the next 12-18
months, down from 53% in 2018. Also pressuring Taesa's credit
metrics in the near term is the significant increase of capital
spending related to the construction of nine greenfield
transmission projects awarded to the company in recent years.
Moody's estimates capital investments of approximately BRL1.6
billion between 2019- 2021. Nevertheless, we expect the company's
FFO-to-Net Debt ratio to recover to the mid-thirties as those
projects become mature.

RATING OUTLOOK

The stable outlook reflects Moody's expectations that Taesa's
credit metrics will remain well positioned to its rating category
even considering the potential debt-funded acquisitions and ongoing
investments, driven by its very stable and predictable cash flow
profile inherent to the transmission sector in Brazil.

WHAT COULD CHANGE THE RATING UP/DOWN

An upgrade of Brazil's Ba2 sovereign bond rating could result in an
upgrade of Taesa's global scale ratings. Conversely, negative
pressure on the ratings or outlook could emerge in connection with
a challenges in the execution of the company's growth strategy,
such as overrun of capital spending or delays in the completion of
greenfield projects. A material deterioration in the company's
liquidity could also lead to negative rating action.
Quantitatively, a prolonged deterioration in the company's credit
metrics, such that FFO to Net Debt falls below 20% and FFO interest
coverage remains sustainably below 3.5x could prompt a rating
downgrade. A significant increase in the proportion of secured debt
or a decrease in the amount of unencumbered assets that could be
used to pay down unsecured debt could also result in a downgrade of
Taesa's unsecured ratings.

Taesa is a power transmission company operating and maintaining
around 12,726 km of high voltage (230 to 525kV) transmission lines
through 36 concessions with a weighted average remaining concession
life of 18- years. As of December 2018, the company was directly
controlling 10 concessions, and operating the remaining 26
concessions through equity participations in the operating
companies of the TBE Group (through a 49.9% equity participation --
TBE Group holds 15 concessions), Brasnorte (39%), Etau (53%), ATE
III (100%) and Sao Gotardo (100%) and the transmission lines under
construction Janaúba (100%), Miracema (100%), Mariana (100%),
Sant'Ana (100%), Ivai (50%), Paraguaçu (50%) and Aimores (50%).
Considering the recent transactions with Eletrobras, Taesa will
raise its participation in Brasnorte and ETAU to 88% and 76%,
respectively.In addition, after the 4 assets acquisition from
Ambar, Taesa will expand its portfolio to 13,953 km of transmission
lines through 40 concessions.

Taesa is controlled by Companhia Energetica de Minas Gerais - CEMIG
(B1/Baa2.br, stable) and Interconexión Electrica S.A. E.S.P (Baa2,
negative) which own 21.7% and 14.9% of Taesa's total capital,
respectively. The remaining 63.4% shares are free float, traded on
the local stock market (BM&FBOVESPA).


VRIO CORP: S&P Withdraws 'BB' Long-Term Issuer Credit Rating
------------------------------------------------------------
S&P Global Ratings withdrew its 'BB' long-term issuer credit rating
on Vrio Corp. at its request. At the time of the withdrawal, the
ratings remained on CreditWatch with positive implications, because
S&P didn't have sufficient information on the company's strategy
and future capital structure following the redemption of its notes
and cancellation of an IPO last year.




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D O M I N I C A N   R E P U B L I C
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DOMINICAN REPUBLIC: Reclassification Aims Lower Wages, Unions Say
-----------------------------------------------------------------
Dominican Today reports that the major labor unions (CNUS, CASC and
CNTD) affirmed that the employers' insistence with the business
reclassification aims to pay lower wages which in their view would
contribute to widen the poverty gap and inequality among workers
and the Dominican population.

Faced with "th[e] intransigence of the employers," the trade unions
will protest in front of the National Business Council offices on
May 30, starting 10:00 a.m., according to Dominican Today.

"The proposal of entrepreneurs extracted from the one stipulated by
Law 187-17 that establishes a Regulatory Regime for the Development
and Competitiveness of Micro, Small and Medium Enterprises (MSMEs)
would convert a large company into a small one and a medium into a
micro company, to evade not only their contributions to the
Treasury but to continue to justify the depressed salaries they pay
their workers," the report notes.

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.




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J A M A I C A
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JAMAICA: Businesses Support New States of Emergency in 3 Parishes
-----------------------------------------------------------------
Caribbean360.com reports that business and hotel interests in
western Jamaica said they are in full support of the declaration of
States of Public Emergency (SOEs) in the parishes of St James,
Hanover and Westmoreland.

They say that while it is never the most ideal of situations, it
would have been impossible to sit idly by and allow the wanton and
despicable behavior of criminal gunmen to continue "and do
nothing," according to Caribbean360.com.

"The Jamaica Hotel and Tourist Association (JHTA), like the rest of
the country, has been informed that SOEs have been declared for the
parishes of St. James, Westmoreland and Hanover," said JHTA
President, Omar Robinson, the report notes.

"While our membership would have preferred not to have to deal with
the negative publicity that this measure will cause in the tourism
marketplaces, particularly those of the USA, Canada and the UK, we
fully understand that this action has been precipitated by the
return of an unacceptable level of shootings and murders in western
Jamaica," he added, the report relays.

The report notes that Mr. Robinson said to that end, "the JHTA puts
its full support behind the Government" in its effort to bring this
unacceptable state of affairs under control.

"We also must make it clear that this measure must not be
squandered.  It is no secret that we, like many other well-thinking
Jamaicans, thought the cancellation of the last State of Emergency
(in St James) was premature.  So since we are at this place once
more, we strongly suggest that the Government and the Opposition
must work together so that this initiative, along with other
anti-crime measures, will be successful," he said, the report
says.

For his part, President of the Montego Bay Chamber of Commerce and
Industry Winston Lawson said his organization has found the
unequivocal action taken by the Government to cauterize what has
been a significantly worrying trend of high crime in St James,
"necessary," the report discloses.

The report notes that President of the Negril Chamber of Commerce
Richard Wallace said the increased presence of security personnel
will help restore law and order in the resort town.  He noted that
crime and violence had been steadily becoming mainstream in Negril,
to the detriment of the business community and its people, the
report says.

And interim President of the Westmoreland Chamber of Commerce,
Moses Chybar, argued that the SOE will provide all the necessary
resources to effectively combat the various criminal elements that
have become a plague on the good people of the parish, the report
relays.

The Chambers of Commerce pledged to cooperate with the security
forces and the Government in whatever way that will ensure not only
the protection of the business communities but the people of the
west, the report relates.

Prime Minister Andrew Holness announced the SOEs. Unless previously
revoked, they will remain in place for 14 days or for a period not
exceeding three months, the report points out.

According to data, between January 1 and April 28 this year, 29
persons were murdered in Westmoreland; 27 persons were murdered in
St James and 18 persons were murdered in Hanover. Last year, 97
persons were murdered in Westmoreland; 84 persons were murdered in
Hanover and 55 persons were murdered in St. James, the report
notes.

During the SOEs, the security forces will have the power to search,
curtail operating hours of business, restrict access to places and
detain people without a warrant, the report says.

A State of Public Emergency was first declared in St James on
January 18, 2018 but ended on January 31, 2019 after the Opposition
refused to support any further extensions, the report adds.

As reported in the Troubled Company Reporter-Latin America on Sept.
27, 2018, S&P Global Ratings revised its outlook on Jamaica to
positive from stable. At the same time, S&P  affirmed its 'B'
long-and short-term foreign and local currency sovereign credit
ratings, and its 'B+' transfer and convertibility assessment on the
country.




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M E X I C O
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MEXICO: To Auction Lamborghini, Other Seized Assets to Help Poor
----------------------------------------------------------------
Daina Beth Solomon at Reuters reports that Mexico's government will
auction a Lamborghini, homes and other assets seized from gangsters
and at least one former politician, officials said, part of a
"Robin Hood" program to use millions of dollars in ill-gotten gains
to aid the poor.

The first auction will seek bids for 77 vehicles with a total
starting price of around $1.5 million, Ricardo Rodriguez, head of
the newly created Institute to Return Stolen Goods to the People,
said at a news conference, according to Reuters.

The proceeds will go to two municipalities in the southern state of
Oaxaca, which President Andres Manuel Lopez Obrador said are among
the poorest in the country, the report notes.  The vehicles up for
auction include Porsches, Corvettes, Mercedes-Benzes, a Mustang
convertible and a 2007 Lamborghini Murcielago, the report relays.

A 2017 report by the Organisation for Economic Cooperation and
Development noted that recent studies estimated Mexico lost between
5% and 9% of its gross domestic product (GDP) to corruption
annually, Reuters relays.

Since taking office in December, Lopez Obrador, a leftist, has
rolled out a string of welfare programs for the poor and the
elderly, cut salaries for top civil servants and said he is saving
public money by eliminating corruption, Reuters says.  He announced
plans for a "Robin Hood" institute in April.

The Mexican president, who has shunned the often luxurious
trappings of the country's wealthy elites and was known to drive
through the capital in a modest white Volkswagen Jetta, added that
two cars and an ambulance donated by the King of Jordan will go to
the National Guard, a new security force, Reuters notes.

One of the auctions will seek to sell three homes worth at least $7
million, including one with an indoor pool in an upscale Mexico
City neighborhood, Reuters discloses.  The money will go towards a
youth drug rehabilitation program.

Proceeds from another auction of jewelry seized from organized
crime groups will go to communities in the mountains of Guerrero
state, where many families struggle to eke out a living by growing
opium poppies, Reuters relays.

Not all the assets come from drug lords.  Rodriguez said one of the
homes up for auction belonged to a former politician, Reuters
adds.




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V E N E Z U E L A
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PETROLEOS DE VENEZUELA: Seizure of Assets Endangers Kids' Lives
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RT News reports that Venezuela's foreign minister has said that the
freezing of some $7 billion in assets belonging to the Venezuelan
oil giant Petroleos de Venezuela S.A. (PDVSA) in the US has made it
impossible to pay for the treatment of young transplant patients
abroad.

The crippling US sanctions and economic embargo that has been in
place for several years have already cost the Venezuelan economy a
staggering $130 billion since 2015, and now threaten to cut short
the lives of at least five young patients that have received liver
transplants in Argentina and are in need of costly post-surgery
treatment, according to RT News.  They cannot afford it due to the
blockage of PDVSA funds by Washington, Venezuelan Foreign Minister
Jorge Arreaza said, RT News notes.

The criminal US financial blockade on Venezuela risks the lives of
Venezuelan children that received transplants in Argentina thanks
to the support of PDVSA," Arreaza tweeted, adding that it "has been
impossible" to transfer the necessary funds to proceed with the
ailing children's treatment, the report relays.

The report says that the Latin American Foundation for the Human
Rights and Social Development (Fundalatin), which Arreaza cited in
his tweet, together with a group of mothers of the affected
children, penned a letter to UN High Commissioner for Human Rights
Michelle Bachelet, asking her to unblock the PDVSA payments so the
children can stay in an Argentinian hospital.

The kids -- Isabella, Nelson, Adeleannys, Mariade los Angeles and
Ximena -- were sent to Argentina for life-saving treatment under a
government-funded health program, the report notes.  The money came
from the state oil giant PDVSA and its US subsidiary CITGO, whose
assets were confiscated by Washington back in January, the report
relays.

Venezuela's National Human Rights Council (HRD) previously sounded
an alarm over the situation, saying the ongoing asset freeze by the
US constitutes a "serious human rights violation," the report
discloses

HRD secretary Larry Devoe reported in early May that almost EUR5
million (US$5.5 million) in payments towards patients' expenses by
PDVSA and other Venezuelan institutions had been either canceled or
rendered invalid by international banks, the report says.

The lives of children that were supposed to travel abroad to
receive transplants have been also put in grave danger by the US
policy, Devoe said, the report relays.  Children aged eight and six
are among those who were impeded from receiving bone marrow
transplants, the report notes.

Vice President of Venezuela Delcy Rodriguez stated at the time that
Washington and the US-backed "coup leaders" in Caracas should be
held directly responsible for the potential death of the children
who were denied the treatment, 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).



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S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter-Latin America is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Washington, D.C.,
USA, Marites O. Claro, Joy A. Agravante, Rousel Elaine T.
Fernandez, Julie Anne L. Toledo, Ivy B. Magdadaro, and Peter A.
Chapman, Editors.

Copyright 2019.  All rights reserved.  ISSN 1529-2746.

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