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       T R O U B L E D   C O M P A N Y   R E P O R T E R

                 L A T I N   A M E R I C A

          Wednesday, November 6, 2019, Vol. 20, No. 222

                           Headlines



B A H A M A S

BAHAMAS: Gets US$50,000 for Hurricane Relief


C U B A

CUBA: Largest Business Fair Opens as Economy Sinks


D O M I N I C A N   R E P U B L I C

DOMINICAN REPUBLIC: Fuel Sold in Region Most Expensive
DOMINICAN REPUBLIC: Official Urges Tax Reform After Elections


J A M A I C A

JAMAICA: Bartlett Calls For More Support For Suppliers in Tourism


P E R U

UNION ANDINA: Moody's Withdraws 'Ba2' Corp. Family Rating

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B A H A M A S
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BAHAMAS: Gets US$50,000 for Hurricane Relief
--------------------------------------------
RJR News reports that Tourism Minister Edmund Bartlett, in his
capacity as co-chair of the Global Tourism Resilience and Crisis
Management Centre, handed over US$50,000 to Director General of the
Bahamas Tourism and Aviation Ministry, Joy Jibrilu, at the second
meeting of the centre's board of governors in London.

The money forms part of the overall relief fund established by the
management centre to support tourism-ravaged economies impacted by
disruptions such as natural disasters and pandemics, according to
RJR News.

The fund will also go towards the commissioning of a baseline study
to assess the vulnerabilities of the Caribbean to major disruptions
and building capacity to deal with them, the report notes.




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C U B A
=======

CUBA: Largest Business Fair Opens as Economy Sinks
--------------------------------------------------
EFE News reports that the Havana International Fair (FIHAV), Cuba's
largest multisector business fair, opened, drawing business leaders
from more than 55 countries as the island hopes to attract foreign
investment amid difficult economic times.

The 37th FIHAV is taking place at a time when Cuba is dealing with
shortages of hard currencies and fuel, and tougher trade sanctions
imposed by the United States, according to EFE News.




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

DOMINICAN REPUBLIC: Fuel Sold in Region Most Expensive
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Dominican Today reports that a study by the Regional Center for
Sustainable Economic Strategies (CREES) shows that some of the
fuels sold in the Dominican Republic are most expensive and pay
higher taxes than in the other Central America countries.

The analysis, published on October 29, shows that in the Dominican
Republic the gallon of premium gasoline is sold at US$4.32, while
the average in Central America is 3.64 dollars, or 0.68 cents
(RD$35) more than the average, according to Dominican Today.

The Dominican Republic remains the country with the highest prices
for premium gasoline, with 18.68% higher than the average for
Central America. Moreover in the Dominican Republic, of the
gasolines, the most consumed is premium, according to CREES, the
report notes.

                        About Dominican Republic

The Dominican Republic is a Caribbean nation that shares the island
of Hispaniola with Haiti to the west. Capital city Santo Domingo
has Spanish landmarks like the Gothic Catedral Primada de America
dating back 5 centuries in its Zona Colonial district.

The Troubled Company Reporter-Latin America reported on April 4,
2019 that the Dominican Today related that Juan Del Rosario of the
UASD Economic Faculty cited a current economic slowdown for the
Dominican Republic and cautioned that if the trend continues,
growth would reach only 4% by 2023. Mr. Del Rosario said that if
that happens, "we'll face difficulties in meeting international
commitments."

An ongoing concern in the Dominican Republic is the inability of
participants in the electricity sector to establish financial
viability for the system.

Standard & Poor's credit rating for Dominican Republic stands at
BB- with stable outlook (2015). Moody's credit rating for
Dominican Republic was last set at Ba3 with stable outlook (2017).
Fitch's credit rating for Dominican Republic was last reported at
BB- with stable outlook (2016).


DOMINICAN REPUBLIC: Official Urges Tax Reform After Elections
-------------------------------------------------------------
Dominican Today reports that Finance Minister Donald Guerrero
believes the time has come to design the tax reform, but after the
elections, in the transition period, to leave to the new government
a framework that allows to improve the fiscal capacity of the
State.

Interviewed by Diario Libre, the official said the reform does not
seek to raise rates that are relatively higher in the region, but
rather take them to "more reasonable" levels, according to
Dominican Today.

He has previously said that the electoral situation prevents
progress leading to a tax reform. "It would not be wise to advance
a reform before May next year," the report notes.

Guerrero said "it is logical" that, being an important modification
of the country's tax base, the next government or the next elected
president becomes an active part in the analysis and discussion and
with the agreements based on the reform, the report relays.

"But I do understand that from the elections next year, in the
transition period, the reform model must be designed for approval
purposes as soon as the next president assumes the government," the
report adds.

                        About Dominican Republic

The Dominican Republic is a Caribbean nation that shares the island
of Hispaniola with Haiti to the west. Capital city Santo Domingo
has Spanish landmarks like the Gothic Catedral Primada de America
dating back 5 centuries in its Zona Colonial district.

The Troubled Company Reporter-Latin America reported on April 4,
2019 that the Dominican Today related that Juan Del Rosario of the
UASD Economic Faculty cited a current economic slowdown for the
Dominican Republic and cautioned that if the trend continues,
growth would reach only 4% by 2023. Mr. Del Rosario said that if
that happens, "we'll face difficulties in meeting international
commitments."

An ongoing concern in the Dominican Republic is the inability of
participants in the electricity sector to establish financial
viability for the system.

Standard & Poor's credit rating for Dominican Republic stands at
BB- with stable outlook (2015). Moody's credit rating for
Dominican Republic was last set at Ba3 with stable outlook (2017).
Fitch's credit rating for Dominican Republic was last reported at
BB- with stable outlook (2016).




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J A M A I C A
=============

JAMAICA: Bartlett Calls For More Support For Suppliers in Tourism
-----------------------------------------------------------------
RJR News reports that Minister of Tourism Edmund Bartlett wants
investment in the tourism industry to go beyond the development of
hotel rooms and other infrastructure.

He made the call during a presentation at the International Tourism
and Investment Conference in London.

Mr. Bartlett said the focus should be on building the capacity of
the suppliers in the industry, who are the main drivers of
tourism.

He said building their capacity will build their ability to be even
more creative to enhance the country's tourism offerings.

As reported in the Troubled Company Reporter-Latin America on Oct.
1, 2019,  S&P Global Ratings, on Sept. 27, 2019, raised its
long-term foreign and local currency sovereign credit ratings on
Jamaica to 'B+' from 'B'. The outlook is stable. At the same time,
S&P Global Ratings affirmed its 'B' short-term foreign and local
currency sovereign credit ratings on the country. S&P Global
Ratings also raised its transfer and convertibility assessment to
'BB-' from 'B+'.

RJR News reported in June 2019 that Steven Gooden, Chief Executive
Officer of NCB Capital Markets, warned that the increasing
liquidity in the Jamaican economy might result in heightened risk
to the financial market if left unchecked.  This, he said, is
against the background of the local administration seeking to
reduce the debt to GDP to 60% by the end of the 2025/26 fiscal
year, which will see Government repaying more than J$600 billion
which will get back into the system, according to RJR News.




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P E R U
=======

UNION ANDINA: Moody's Withdraws 'Ba2' Corp. Family Rating
---------------------------------------------------------
Moody's Investors Service withdrawn Union Andina de Cementos
S.A.A.'s Ba2 corporate family rating and the stable outlook. At the
time of withdrawal, there was no instrument rating outstanding.

RATINGS RATIONALE

On October 30, 2019, Unacem redeemed $225 million global notes.

Headquartered in Lima, Peru, Unacem is the oldest and largest
cement producer in the country, with around 50% of market share and
revenue and EBITDA of $1.2 billion and $350 million, respectively
as of twelve months ended June 2019. The company is involved in the
production and distribution of cement, concrete, industrialized
concrete structures, aggregates and electricity generation.

Cement is the largest business division generating around 80% of
consolidated EBITDA. The Peruvian cement division is by far
Unacem's largest business segment accounting for around 65% of
consolidated EBITDA. The Peruvian cement operation is comprised of
two cement plants, Atocongo and Condorcocha, both in the country's
central region. In Ecuador, it generates some 15% of its
consolidated EBITDA through a plant in the north part of Quito. In
the U.S., Unacem operates a cement plant in the state of Arizona.
Furthermore, the Company owns ready mix and precast structures
businesses in Peru, Chile, Colombia, Ecuador and the U.S. Unacem is
a public company listed in the Peruvian Stock Exchange.



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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.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
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Information contained herein is obtained from sources believed to
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