/raid1/www/Hosts/bankrupt/TCRLA_Public/191211.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, December 11, 2019, Vol. 20, No. 247

                           Headlines



A R G E N T I N A

TECPETROL INTERNACIONAL: Fitch Affirms BB+ LT IDR, Outlook Stable


B O L I V I A

BANCO NACIONAL: Moody's Reviews Ba3 Deposit Rating for Downgrade


B R A Z I L

CODAP BRAZIL: Jan. 15 Bid Submission Deadline
FURNAS CENTRAIS: Fitch Affirms Then Withdraws BB- LT IDR


E C U A D O R

ECUADOR: IDB Approves US$42MM Loan to Improve Competitiveness


J A M A I C A

DIGICEL GROUP: Evaluating Refinancing Options Over Debt


M E X I C O

RASSINI AUTOMOTRIZ: Moody's Withdraws Ba2 CFR for Business Reasons


P A R A G U A Y

PARAGUAY: Fitch Affirms BB+ LT IDR, Outlook Stable


P E R U

CAMPOSOL HOLDING: Fitch Affirms B+ LT IDRs, Outlook Stable
PERU LNG: Moody's Assigns Ba3 CFR; Alters Outlook to Stable

                           - - - - -


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A R G E N T I N A
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TECPETROL INTERNACIONAL: Fitch Affirms BB+ LT IDR, Outlook Stable
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Fitch Ratings affirmed the Long-Term Foreign and Local Currency
Issuer Default Ratings of Tecpetrol Internacional S.L. at 'BB+'.
The Rating Outlooks are Stable.

Tecpint's ratings reflect its diversified geographic footprint of
oil and gas operating assets throughout six Latin American
countries, including a 10% ownership in two blocks within Camisea
natural gas field in Peru, conservative leverage and the implicit
support provided by its parent, the Techint Group. Techint is the
majority owner of its sister companies, Tenaris S.A. and Ternium
S.A. Tecpint's ratings are consistent with a 'BB' rating on a
standalone basis and received a one notch uplift as a result of
implicit parent support.

Tecpint's ratings also reflect the company's somewhat predictable
cash flow generation from businesses outside of Argentina, namely
cash flow generated from Peru, Colombia and Mexico. The company's
production expansion in Argentina with its Fortin de Piedra asset
provides strong cash flow generation after the asset has been fully
developed.

Tecpint's production size of 174,000 barrels of oil equivalent per
day (boed) expected in 2019 is aligned with other issuers rated in
the 'BB' category, while its reserve life of 10 years is consistent
with the company's credit quality. Tecpint has moderate gross
leverage, defined as total debt to EBITDA, expected to be 0.9x in
2019 and USD1.55 per barrel of 1P of reserves.

Tecpint's Foreign Currency rating is not constrained by the
Republic of Argentina's country ceiling, due to its cash flow
diversification outside of Argentina, primarily from Peru and its
Camisea investment.

KEY RATING DRIVERS

Diversified Asset Base: Fitch views Tecpint's diversified asset
base as a credit positive. Tecpint has oil and gas exploration and
production operations in six countries across Latin America
(Argentina, Peru, Ecuador, Mexico, Colombia and Bolivia) as well as
gas transportation and distribution in Argentina and Mexico and
electricity generation in Mexico. The company's principal reserves
are in Peru (29%), Bolivia (8%), Ecuador (8%), and Argentina (51%).
Approximately 72% of 2019 E&P revenues come from sales of oil and
gas and services from Argentina and nearly 49% of reported 2018
equivalent proved reserves are located outside of Argentina.

Camisea Stake: Tecpint's 10% ownership stake in blocks 88 and 56
within the Camisea natural gas field in Peru, which is estimated to
contribute nearly 8% of its EBITDA for 2019, provides stable and
predictable cash flows far beyond the maturities of the company's
debt obligations. Fitch forecasts Camisea's contribution to
Tecpint's EBITDA will alone be more than adequate to cover interest
expense, on average 2.6x, through 2021. Camisea's reserve life is
estimated to extend for more than 25 years; although the license
agreements for Camisea's two blocks, 88 and 56, expire in 2040 and
2044, respectively.

Strong Financial Profile: Fitch estimates Tecpint's 2019 EBITDA
will be USD1,169 million in 2019, equating to an EBITDA margin of
64%. Fitch's base case assumes EBITDA margins will be in line with
2019 levels through the rating horizon. FCF will be positive in
2019 through 2021, especially as the company decreases capex. Fitch
estimates Tecpint's will have negative net debt to EBITDA in 2021,
with 2020 estimated to be 0.1x. Further, Tecpint's total debt to 1P
of reserves is $1.55 per boe, lowest amongst peers in the region.

Uncertain Operating Environment: Tecpetrol's stable cash flow
profile is supported by its contracted price scheme under
Resolution 46 through 2021. Fitch assumes Res. 46 will be honored
at current levels through 2021, as Tecpetrol and other benefactors
are strategic gas producers for the country. In the event Res 46 is
cancelled, Tecpint's conservative capital structure with total debt
to EBITDA expected to be 0.9x in 2019, and cash flows abroad,
particularly from Peru, support the rating, offsetting an uncertain
operating environment in Argentina.

Strong Production Profile and Hydrocarbon Reserve Life: Tecpint's
ratings reflect the company's medium production size, consistent
with the low 'BBB' rated category, and relatively strong reserve
life of approximately 10 years compared with peers. Tecpint's total
owned and operated production is expected to average 174,000 boed
(64.0 million boe per year) in 2019. As of YE 2018, Tecpint's had
proved reserves of 628 million boe (75% gas and 25% Liquids).
Argentina has the largest percentage by country at 51% followed by
Peru (29%), Bolivia (8%) and Ecuador (8%).

Implicit Parent Support: Tecpint's ratings reflect implicit support
from its parent, The Techint Group. Tecpint's ratings received a
one notch uplift from its standalone credit profile as a result
from its parent's implicit support. Techint is a global industrial
conglomerate that is the principal investor in Tenaris, Ternium,
Techint Engineering & Construction, Tenova and Humanitas. Techint's
2018 revenues were USD23.5 billion. Techint has a very conservative
capital structure with strong cash flow generation.

DERIVATION SUMMARY

Tecpetrol's production of 174,000 boed and strong reserve life of
10 years compares favorably with other 'BB' rating category oil and
gas producers. These peers include Pan American Energy
(B+/Positive) with 226,000 boed and 18 years reserve life, Murphy
Oil Corporation (BB+/Stable) with 171,000 of boed and 13.9 years
and YPF SA (CCC) with 475,000 of boed and 5.6 years. Tecpetrol's
Argentine peer Pan American Energy is capped by the country ceiling
of Argentina of 'CCC', but receives multiple notch uplift, due to
its strong liquidity profile and cash flows from Bolivia. The
Positive Outlook reflects Fitch's expectation that its Mexican
operations will start in 2020, lifting the country ceiling from
Argentina to Mexico. YPF's rating is equalized with the country
ceiling of Argentina, due to the government's 51% ownership and the
strategic importance of the company for the country.

Tecpint's capital structure is strong. Fitch expects gross leverage
(total debt to EBITDA) to be 0.9x in 2019, which is in line with
Pan American Energy at 1.3x, and both are lower than Murphy Oil
(2.1x) and YPF (1.9x). On debt to 1P reserves, Fitch estimates
Tecpint's 2019 debt to 2018 reserves as USD1.55 boe, compared to
Pan American Energy at USD1.59 boe and stronger than Murphy Oil
(USD4.47 boe) and YPF (USD8.90 boe).

KEY ASSUMPTIONS

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

  -- Production in Bolivia, Colombia, Ecuador, Mexico and Peru to
remain flat through 2021;

  -- Fortin de Piedra production flat at 110,000 boed from 2019
through 2022;

  -- Fitch's Brent oil price assumptions of USD65 per barrel (bbl)

for 2019, USD62.50/bbl for 2020, USD60/bbl for 2021 and USD57.50bbl
for the long term;

  -- Fixed unconventional gas prices under Res 46 applied to only
approximately 55,000 boed until 2021 (US$ 7.50 /MM BTU for 2017 and
2018, USD7.00/ MM BTU for 2019, USD6.50/ MM BTU in 2020, decreasing
to USD6.00 in 2021);

  -- EBITDA margins expected to remain at an average of 65% for the
next three years;

  -- Total capex of USD1.4 billion between 2020-2022;

  -- Dividends USD100 million paid annually in 2019 and 2020.

RATING SENSITIVITIES

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

  -- An upgrade of Argentina, Bolivia and/or Ecuador's ratings and
country ceilings may result in a positive rating action.

  -- Production rising consistently above 170,000 boe/d on a
sustained basis;

  -- Reserve life stays robust, despite production growth, at
approximately 10 years;

  -- The company's maintains a conservative financial profile with
gross leverage of 2.5x or below.

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

  -- The ratings could be negatively affected by a deterioration of
Argentina, Bolivia, Ecuador and/or Peru's credit quality combined
with a material increase in the government's interference in the
sector.

  -- An increase of sustained, after expansion, leverage above 3.5x
coupled with a decrease in interest coverage below 4.5x also be
negatively affect ratings.

LIQUIDITY

Strong Liquidity: Tecpint reported a total cash and equivalent of
USD276 million as of Sept. 30, 2019, covering amortizing debt
through 2020. Given the company's strong operational track record
along with strong parent company support, Fitch does not anticipate
any difficulties for the company in tapping local and international
debt markets in order to refinance short-term debt.

ESG Consideration:

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of 3. ESG issues are credit neutral
or have only a minimal credit impact on the entity, either due to
their nature or the way in which they are being managed by the
entity.

FULL LIST OF RATING ACTIONS

Fitch has affirmed the following ratings:

Tecpetrol Internacional S.L.

  -- Long-Term, Foreign Currency Issuer Default Rating (IDR) at
'BB+'; Outlook Stable;

  -- Long-Term, Local Currency IDR at 'BB+'; Outlook Stable.

Tecpetrol S.A.

  -- USD500 million senior unsecured notes guaranteed by Tecpetrol
Internacional S.L. at 'B



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B O L I V I A
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BANCO NACIONAL: Moody's Reviews Ba3 Deposit Rating for Downgrade
----------------------------------------------------------------
Moody's Investors Service placed under review for downgrade all
long-term ratings and assessments assigned to Banco Nacional de
Bolivia S.A., including its Ba3/B1 local and foreign currency
deposit ratings, its ba3 baseline credit assessment (BCA) and
adjusted BCA, its Ba2 counterparty risk ratings and Ba2(cr)
counterparty risk assessment.

The rating action follows Moody's announcement published on
December 5, 2019 that it had placed Bolivia's Ba3 government bond
rating under review for downgrade.

RATINGS RATIONALE

The rating action on BNB was prompted by a similar action on
Bolivia's Ba3 government bond rating, considering that both BNB's
BCA and local currency deposit rating are currently at the level of
the sovereign, and therefore a downgrade of the latter would
unequivocally drive a downgrade of BNB's ratings. This reflects its
view that underlying inter-linkages between banksĀ“ standalone
creditworthiness and that of the sovereign are high.

The rating action on Bolivia's sovereign was prompted by Moody's
expectation that the heightened political risk following the failed
presidential elections will increase policy uncertainty and
potentially lead to an economic slowdown, which will in turn
exacerbate the ongoing erosion of fiscal and foreign exchange
reserve buffers, resulting in a weaker overall sovereign credit
profile. The review of the sovereign rating will focus on the
assessment of the extent to which political conditions are likely
to support or undermine macroeconomic stability, and assess the
country's ability to adopt policy measures that would restore
economic growth prospects and preserve the country's fiscal and
foreign exchange reserve buffers at levels consistent with a Ba3
rating.

The review of BNB's ratings will also focus on the implications of
the recent political crisis and the prospect of weaker economic
growth on the local banking system and on BNB's credit profile in
particular. Therefore, even if the sovereign rating were to remain
unchanged after the review, pressures on asset quality,
profitability and liquidity could eventually lead to a downgrade of
BNB's BCA.

If sustained, policy uncertainty and economic deceleration would
take a toll on Bolivian banks' credit profile, including BNB.
Moody's expects recent social unrest and the virtual paralysis of
Bolivia's main cities in the weeks that followed the presidential
election to cause a deterioration in asset risk metrics, albeit
from strong levels. BNB holds a relatively diversified loan book,
with important presence on mortgage, corporate and small and medium
size enterprises segments. The bank's asset quality on those
segments has been close to the banking system's average, as
evidenced by non-performing loans relative to gross loans at 2.1%
as of September 2019, although it has already increased to 2.4% at
the end of October. Apart from the initial impact on asset risk,
which could be temporary, an economic slowdown would have a
potentially longer-lasting impact on loan delinquencies.

Another potential source of pressure for the Bolivian banking
system and BNB affects their funding and liquidity profiles. After
years of steady reduction on deposit dollarization, the turmoil
that followed the elections caused a change in that trend, with an
incipient increase in deposit dollarization. If sustained, this
trend would further affect the banking system's local currency
liquidity, and also pressure funding costs. BNB funds most of its
loan portfolio with deposits, which results in very low use of more
volatile and expensive market funds. However, the bank's liquidity
profile, similarly to most of its local peers, has deteriorated in
the last years because of rapid loan growth and a largely stagnant
deposit base. BNB's liquid assets to total banking assets ratio
fell to a moderate 27% as of September 2019 from a strong 38% in
2017.

Moody's believes BNB's exposure to environmental risks is low,
consistent with its general assessment for the global banking
sector. BNB's exposure to social risks is moderate, consistent with
Moody's general assessment for the global banking sector. As well,
governance risks are largely internal rather than externally
driven. Moody's does not have any particular concerns with BNB's
governance. The bank has shown a long track record of contained
asset quality metrics, which signal prudent underwriting practices
and adequate governance.

WHAT COULD LEAD TO A CONFIRMATION OF THE RATING AT THE CURRENT
LEVEL

BNB's ratings could be confirmed at the current level if the
sovereign ratings were also confirmed, banks' operating conditions
stabilized and BNB's asset risk, funding and liquidity metrics
would not deteriorate further.

LIST OF AFFECTED RATINGS

The following ratings and assessments of Banco Nacional de Bolivia
S.A. were placed under review for downgrade:

Global scale, long-term local currency deposit rating of Ba3

Global scale, long-term foreign currency deposit rating of B1

Global scale, long-term local and foreign currency counterparty
risk rating of Ba2

Baseline credit assessment and adjusted baseline credit assessment
of ba3

Global scale, long-term counterparty risk assessment of Ba2(cr)

Outlook, Changed To Under Review for Downgrade from Stable

The following ratings and assessments of Banco Nacional de Bolivia
S.A. were affirmed:

Global scale, short-term local and foreign currency deposit ratings
of Not Prime

Global scale, short-term local and foreign currency counterparty
risk ratings of Not Prime

Global scale, short-term counterparty risk assessment of Not
Prime(cr)

The principal methodology used in these ratings was Banks
Methodology published in November 2019.



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B R A Z I L
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CODAP BRAZIL: Jan. 15 Bid Submission Deadline
----------------------------------------------
The bankruptcy procedure of Co.Da.P. Cola Dairy Products S.p.A.
(no. 339/2014, Bankruptcy Judge Ms. Livia De Gennaro, Receivers Mr.
Livio Persico and Mr. Massimo Di Pietro), pending before the Court
of Naples, intends to place on sale the shareholding, amounting to
a nominal R$12,987,000, equal to 99.90% of the share capital of
CODAP BRASIL Ltda, a Brazilian company, based in Sorocaba - SP
(Brazil), Av. Vela Olimpica 1000, having as its primary purpose the
production of vegetable cream under its own brand and third party
brands.

The sale will occur, in the state of fact and law in which the
shareholding is found, at the starting price of EUR23,642,520;
however, bids made for a fee not lower than 75% of the starting
price will be deemed effective.

The sale excludes any guarantee from the sellers such as guarantees
regarding the systems and machinery, contingent liabilities, asset
write-downs or capital losses, or any guarantee for defects or lack
of quality or for lack of, late or conditional issuance of any
authorization for the exercise of the business activity.

The guarantee exclusion also includes the outcome of the pending
dispute with the minority shareholder, owning 0.1%; a dispute whose
outcomes for the procedural bodies permit the sale of the
shareholding.  Details of that dispute will be provided, along with
documentation on the Brazilian company, in a specific
data room which may be accessed by the interested parties subject
to accepting a strict confidentiality obligation.

Bids must be secured by way of bankers' drafts issued by an Italian
bank, to the order of the Bankrupt Company 339/2014 CO.DA.P. Cola
Dairy Products SpA, in an amount equal to 10% of the price offered,
under penalty of ineffectiveness.

Bids must be filed, again under penalty of ineffectiveness, by and
not beyond 12:00 p.m. on January 15, 2020, at the Chancellery of
Ms. Livi De Gennaro, located at the Court of Naples - Bankruptcy
Section, in a sealed envelope on the outside of which the recipient
Clerk of the Court must note the name, subject to identification,
of those materially filing the bid and the other indications in
respect of the forms established by the final paragraph of Art. 571
of the Italian Civil Procedure Code.

Bids must be prepared in Italian or, if prepared in another
language, must be accompanied by a sworn translation in Italian
which will be relied upon in the event of a contrast between the
two texts; any attached documents in another language must be
accompanied by a sworn translation in Italian.

The hearing to examine the bids will be held on January 16, 2020,
at 12:00 p.m. at the Court of Naples - Bankruptcy Section, in the
courtroom of the Judge Livia De Gennaro.

If several bids are received, an auction will be held between them
based upon the bid having the highest overall price; the minimum
raised bids will be for EUR200,000.00.

The bidder making the highest overall bid will be the winner.  The
best bidder must, within 10 days of the hearing, deliver to the
Bankruptcy Company further banker's drafts, to supplement the
deposit already paid, up to the amount of 10% of the final price.
If bids are filed but none of the bidders attend the hearing, the
bid having the highest price will be considered.

If the auction is won, the deposit paid, net of any taxes and
costs, will be allocated to the fee offered and the residual price
must be paid within ninety days from the same.

At the outcome, the transfer will be pursued in the forms required
for the purpose of validating and publishing the transfer in the
State of Brazil, in which the Company has its registered office.

All costs and charges, even for taxes and levies, will be paid by
the winning bidder; the only exception shall be the fee -- which
will, on the other hand, be borne by the Bankrupt Company -- to be
paid by the Brazilian law firm, already identified for the purpose
by the bankruptcy bodies, which will complete the necessary
fufilments for the recognition in Brazil of all acts related to the
aforementioned sale.

If the price is not paid, or the deposit is not supplemented in the
assigned timeframe, the sums paid as a deposit will be retained on
a final basis by the procedure by way of a fine.  In that case, the
winning bidder will declared to have forfeited its bid by the
Bankruptcy Judge; if a new competitive sale produces lower
proceeds, it must pay the difference as provided by Art. 587, II
paragraph of the Italian Civil Procedure Code.

The deposits paid by the other losing bidders will be returned.

This Notice does not constitute an offer to the public pursuant to
Art. 1336 of the Italian Civil Code or a solicitation of public
savings pursuant to Art. 94 et seq. of Italian Legislative Decree
no. 58 dated February 24, 1998.  The publication of this Notice,
along with the receipt of bids, does not involve for the sellers
any obligation or commitment of sale.

For any further information, the interested parties may send a
request, by certified email, to the following address:
naf3392014@procedurepec.it.

A copy of the identification document of the applicant natural
person or the legal representative of the applicant company must be
attached to the communication.

The submission of bids implies unconditional acceptance of the
entire content of this notice.


FURNAS CENTRAIS: Fitch Affirms Then Withdraws BB- LT IDR
--------------------------------------------------------
Fitch Ratings affirmed and withdrawn Furnas Centrais Eletricas
S.A.'s Long-Term Foreign and Local Currency Issuer Default Ratings
at 'BB-' and Long-Term National Scale Rating at 'AA(bra)'. Fitch
has withdrawn Furnas' ratings for commercial reasons. The Rating
Outlook for all the ratings is Stable.

Fitch rates Furnas at the same level of its parent company Centrais
Eletricas Brasileiras S.A. (Long-Term Foreign and Local Currency
IDRs BB- and Long-Term National Scale Rating AA(bra)) due to the
strong legal, operational and strategic ties between both
companies, in accordance Fitch's "Parent and Subsidiary Rating
Linkage" methodology. For Eletrobras, Fitch applies its
Government-Related Entities Rating Criteria to equalize the
company's IDRs with Brazil's sovereign rating (BB-/Stable), as the
company's linkage with the government is strong and the government
has a strong to very strong incentive to provide support. Fitch
views Eletrobras' linkage with the government as strong given
Brazil's 51% ownership of the company's voting shares. In addition,
the government has broad control over Eletrobras' operational,
strategic and financing activities and guarantees 15% of
Eletrobras' consolidated on-balance-sheet debt.

Fitch's assessment of the government's incentive to support
Eletrobras is based on the strong socio-political implications of a
default on the company's ability to provide quality service. The
Brazilian power system relies on Eletrobras' asset portfolio of
generation plants and transmission lines, as it is the largest
participant in the sector. Fitch believes the effect of a default
on the availability and cost of domestic or foreign financing
options for the sovereign and/or other government subsidiaries
would be strong.

The government's intention to privatize Eletrobras is not
incorporated in this analysis, as it is uncertain. If Eletrobras
becomes a private entity, Fitch will likely decouple the rating to
the sovereign and analyze the company's Standalone Credit Profile
(SCP), which is consistent with the 'b' rating, due to pressured
cash flow generation and high leverage, despite low business risk
and its significant size in the sector.

The ratings were withdrawn for commercial purposes.

KEY RATING DRIVERS

Linkage With Parent Equalize Ratings: Furnas is the main subsidiary
of Eletrobras and has 18,260 MW of installed power generation
capacity and 29,420 km of transmission lines. In addition to the
strategic importance for Eletrobras, the equalization of the
ratings of both companies is reinforced by the guarantee provided
by the parent company in the first debenture issue of Furnas, which
also contemplates cross default clauses with other Eletrobras debt
instruments.

Strong Linkage to the Sovereign: Eletrobras' ratings reflect the
Brazilian government's strong incentive to support the company, due
to its shareholding control and strategic importance as the
country's largest electricity generation and transmission company,
with 30% of installed generation capacity and 47% of transmission
lines above 230 kv as of September 2019. Its size and presence in
several significant energy operational assets in Brazil makes it
strategically important to the country's economy and development.

Supportive Government: The Brazilian government has shown
increasing commitment to Eletrobras' turnaround, supporting
management's decision to sell assets and cut costs. In addition,
government support as come through the National Treasury acting as
guarantor of loans to 15% of total consolidated on-balance-sheet
debt at the end of the third quarter of 2019 and equity injections
of BRL2.9 billion in 2016. Federal banks and Petrobras are also the
counterparty of significant part of the group's on-balance sheet
debt.

Improving SCP: Eletrobras' SCP materially improved recently, as the
company sold assets to significantly strengthen its EBITDA due to
weak operating results in its operations in the distribution
segment. Eletrobras' individual credit profile 'b' reflects the
improved capital structure reported over the past three years and
Fitch's expectation of continuing to show a better financial
profile over the next few years.

Cash Generation to Improve: EBITDA should be around BRL10.0 billion
in 2020, according to Fitch's projections, considering the current
asset portfolio and cash inflows from compensation revenues of the
transmission concessions renewed in 2013. In the LTM ended Sept.
30, 2019, adjusted EBITDA was BRL11.6 billion, benefiting from
compensation revenues bookings since July 2017 and the sale of the
subsidiaries in the distribution segment in 2018 and 2019, which
used to pressure the consolidated results before the sale with
negative EBITDAs.

High Leverage: Fitch expects Eletrobras' adjusted leverage ratios
to remain high, with net adjusted debt/adjusted EBITDA of 6.0x-7.0x
until 2021. As a mitigating factor, Eletrobras' consolidated risk
profile benefits from an extended debt maturity schedule. For the
LTM ended Sept. 30, 2019, total adjusted debt/adjusted EBITDA and
net adjusted debt/adjusted EBITDA were 6.3x and 5.6x, respectively.
Total adjusted debt of BRL82.5 billion includes the sectorial fund
Reserva Global de Reversao (RGR) of BRL3.8 billion and
off-balance-sheet debt of BRL31.8 billion related to guarantees
provided to nonconsolidated subsidiaries. Excluding these debts,
net leverage would reach more conservative level at 3.2x.

Privatization Potentially Positive to SCP: Fitch considers
Eletrobras' new SCP after privatization, when it occurs, will be
linked to the expectation of potential cash flow generation,
leverage metrics and financial flexibility. The cash inflow raised
through the capitalization will not benefit Eletrobras' credit
profile immediately, as it should be mainly directed to the federal
government. However, the privatization should allow the company to
obtain higher sales prices associated with part of its generation
assets.

DERIVATION SUMMARY

Eletrobras group's 'BB-' IDR mirrors the Brazilian sovereign's
'BB-' rating, given the company's strong linkage with the
government and its high importance to the country. Compared with
other state-owned electric utility companies in Latin America,
Eletrobras' IDRs are lower than the Mexican company Comission
Federal de Electricidad (CFE; BBB/Stable), and the Colombian group
Interconexion Electrica S.A. E.S.P (ISA; BBB+/Stable). CFE's
ratings are fully supported by the Mexican sovereign rating of
'BBB'/Stable due to its monopoly position in the country. ISA's
ratings are higher than the Colombian sovereign 'BBB'/Stable
rating, but capped by the sovereign ceiling at 'BBB+', reflecting
its asset base diversification in terms of segments and geographic
operation, resulting in adequate credit metrics.

Eletrobras' 'b' SCP is five notches below the 'BBB-' Local Currency
IDR of the Brazilian generation company Engie Brasil Energia S.A.
and the Brazilian transmission groups Alupar Investmento S.A. and
Transmissora Alianca de Energia Eletrica S.A. due to its
significantly worst operating performance and credit profile.

KEY ASSUMPTIONS

  -- Receipt of BRL36.1 billion from compensation value for the
transmission concession renewal in monthly installments from
October 2019 to July 2025;

  -- Average annual capex (not including equity contributions) of
BRL3.3 billion from 2019 to 2022;

  -- Dividends of 25% of net profit in the coming years;

  -- No further impairments and investigation findings beyond the
USD2.5 million Foreign Corrupt Practices Act settlement with the
U.S. SEC in 2018, and no revenues from asset disposals;

  -- No execution of the outstanding guarantees to nonconsolidated
subsidiaries.

RATING SENSITIVITIES

Rating sensitivities are no longer relevant for any of the ratings
given the rating withdrawal.

LIQUIDITY AND DEBT STRUCTURE

Manageable Debt Maturity: Eletrobras has historically maintained a
strong liquidity position and counts on the potential financial
flexibility provided by the sovereign. The company's consolidated
cash and marketable securities of BRL9.6 billion were above its
short-term debt of BRL7.5 billion at the end of the third quarter
of 2019. The group's cash position should slightly benefit from the
agreement signed with Eletropaulo Metropolitana Eletricidade de Sao
Paulo S.A. in 2018, which will represent a cash inflow of BRL1.5
billion to be received in five annual installments, in addition to
BRL1.1 billion in asset sales.

Eletrobras group's debt is concentrated in Brazilian state-owned
entities. Federal banks hold 34% of the consolidated
on-balance-sheet debt, with Petrobras responsible for 18% and RGR
8%, which strengths the linkage with the government. Foreign
currency debt comprised by Eurobonds and loans with international
development banks, such as Corporacion Andino de Fomento, Banco
Interamericano de Desenvolvimento and Kreditanstalt fur
Wiederaufbau, represents around 17% of group's debt. Brazilian
government provides guarantee in the amount of BRL7.6 billion,
representing around 15% of total consolidated debt.

ESG CONSIDERATIONS

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of 3. ESG issues are credit neutral
or have only a minimal credit impact on the entity, either due to
their nature or the way in which they are being managed by the
entity.



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E C U A D O R
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ECUADOR: IDB Approves US$42MM Loan to Improve Competitiveness
-------------------------------------------------------------
Ecuador will improve competitiveness through the strengthening of
institutions that contribute to the business environment and
productivity, with a US$42 million loan approved by the
Inter-American Development Bank (IDB).

The program will strengthen dialogue and coordination between the
public and private sectors, contribute to the improvement of
innovation and productivity of strategic productive sectors
prioritized by the Competitiveness and Entrepreneurship Committee
of the country and will support the regulatory quality and
transparency of the environment of business.

Specifically, the development and implementation of the national
competitiveness agenda, the identification and removal of obstacles
to the growth of strategic sectors will be supported through the
creation of executive tables and the deployment of instruments to
support innovation and entrepreneurship through of competitive
funds.

It will also offer technical assistance to the Ministry of Economy
and Finance to support the development of a comprehensive strategy
whose objective is to improve access to financing and the
sustainability of micro, small and medium enterprises.

In addition, the program will improve the management of government
entities, processes and assets that contribute to the productivity
of the private sector, in particular the Ministry of Energy and
Non-Renewable Natural Resources, the Ministry of Production,
Foreign Trade, Investments and Fisheries and the Service of Public
Procurement.

Finally, the program will contribute in reducing transaction costs
for users of public services by financing the simplification and
digitalization of procedures related to the business environment
and strengthening the online service portal of the State.

The IDB loan has a repayment term of 25 years, a grace period of
six years and an interest rate based on LIBOR and has a local
counterpart of $5,040,000.

               About Inter-American Development Bank

The Inter-American Development Bank is devoted to improving lives.
Established in 1959, the IDB is a leading source of long-term
financing for economic, social and institutional development in
Latin America and the Caribbean.  The IDB also conducts
cutting-edge research and provides policy advice, technical
assistance and training to public and private sector clients
throughout the region.




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J A M A I C A
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DIGICEL GROUP: Evaluating Refinancing Options Over Debt
-------------------------------------------------------
RJR News reports that Digicel Group is reportedly evaluating its
refinancing options over part of its debt pile, which currently
stands at about US$7 billion.

According to RJR News, the company issued a statement following
questions from Ireland's Independent newspaper regarding a credit
downgrade from rating analyst Fitch.

RJR News relates that Fitch said the rating downgrade was related
to Digicel's unsustainable capital structure and an imminent
refinancing risk on US$1.3 billion worth of bonds due in April
2021.

A spokesman for Digicel said the company's operational initiatives
to stabilise and grow its mobile business are now delivering
tangible, positive results in local markets, the report relays.

Last month, Fitch said Digicel Group faces imminent refinancing
risk and will have to restructure a large part of its debt pile in
the next 18 months, RJR News recalls.                              
                                                        

Fitch lowered its ratings on Digicel by one level to double C which
based on its definition implies a default of some kind appears
probable.

                        About Digicel Group

Digicel Group is a mobile phone network provider operating in 33
markets across the Caribbean, Central America, and Oceania regions.
The company is owned by the Irish billionaire Denis O'Brien, is
incorporated in Bermuda, and based in Jamaica.

As reported in the Troubled Company Reporter-Latin America on
November 22, 2019, Fitch Ratings downgraded the Long-Term Foreign
Currency Issuer Default Ratings of all of the rated entities in the
Digicel corporate structure, including: Digicel Group Limited, to
'CC' from 'CCC-'; Digicel Group Two Limited to 'CC' from
'CCC-'; Digicel Group One Limited to 'CCC' from 'B-'; Digicel
Limited to 'CCC' from 'B-'; and Digicel International Finance
Limited to 'B-' from 'B'. The Rating Outlooks on DGL1 and DL have
been removed, while the
Outlook on DIFL has been revised to Negative from Stable.



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

RASSINI AUTOMOTRIZ: Moody's Withdraws Ba2 CFR for Business Reasons
------------------------------------------------------------------
Moody's Investors Service has withdrawn the Ba2 corporate family
rating and negative outlook of Rassini Automotriz, S.A. de C.V. due
to business reasons. There were no ratings assigned to specific
debt instruments.

RATINGS RATIONALE

Moody's has withdrawn the rating for business reasons.

Moody's last rating action on Rassini Automotriz, S.A. de C.V. was
on February 11, 2019 when the agency changed the outlook to
negative from stable and affirmed the Ba2 corporate family rating
of Rassini Automotriz, S.A. de C.V.

Rassini Automotriz S.A. de C.V. is the leading manufacturer of leaf
spring suspension components for light trucks and commercial
vehicles in North America and Brazil. Rassini Automotriz S.A. de
C.V. is the main operating subsidiary of Rassini, S.A.B. de C.V., a
privately controlled holding company based in Mexico City. The
company reported revenues of MXN19,656 million over the twelve
months ended June 30, 2019.



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P A R A G U A Y
===============

PARAGUAY: Fitch Affirms BB+ LT IDR, Outlook Stable
--------------------------------------------------
Fitch Ratings affirmed Paraguay's Long-Term Foreign Currency Issuer
Default Rating at 'BB+' with a Stable Outlook.

KEY RATING DRIVERS

Paraguay's ratings reflect its track record of prudent and
consistent macroeconomic policies, low general government debt
level and robust external liquidity relative to 'BB' peers. Its
ratings are mainly constrained by structural factors including
weak, albeit improving, governance indicators, low per capita GDP
and a shallow local capital market.

Real GDP contracted in 1H19 as a result of severe shocks affecting
agriculture, hydroelectric power and external demand, reducing
growth to zero in 2019, but the economy is now recovering. Fitch
expects growth to return to 4% in 2020, slightly below the
five-year average growth rate for the 'BB' median. Government
efforts to improve the business environment and invest in
infrastructure may support higher growth over the medium term but
volatility could return if shocks are repeated.

A severe drought, similar to those in 2009 and 2012, resulted in a
severe contraction in both hydroelectricity (-12% in H1 2019) and
agriculture sectors (-11.6%), each of which represent directly
8%-9% of GDP. Flooding in early 2019 further impacted construction
activity and the cattle industry. The severe depreciation of the
Argentine peso and prolonged recession led to a decline in border
trade and remittances, the second most important source of external
inflows for Paraguay.

The government has responded with monetary and fiscal stimulus to
counteract the fall in economic activity. The central bank began to
cut its policy rate in February 2019, with cumulative cuts of 125
basis points, down to 4% in September 2019. The inflation targeting
regime in place since 2011 has anchored inflation expectations and
helped deliver low inflation while allowing the exchange rate to
serve as a shock absorber, although high dollarization constrains
the flexibility and efficacy of these policies. Average inflation
is expected to reach 2.8% in 2019, at the lower end of the central
bank's 4%+/-2% target.

A fall in tax revenues and countercyclical capital expenditure will
drive the fiscal deficit to an estimated 2.5% of GDP in 2019, up
from 1.3% of GDP in 2018. This deficit is well above the upper
limit of the Fiscal Responsibility Law (FRL) implemented in 2014
that limits the fiscal deficit to 1.5% of GDP and caps real growth
in current spending at 4.0%. The law includes escape clauses in the
case of certain events such as recession such as the country faced
this year.

Paraguay has a long track record of prudent fiscal policy that has
delivered low deficits (or surpluses) over the last decade and
helped keep the debt burden relatively low at 20% of GDP. The
government passed the FRL in 2013 to serve as an anchor to fiscal
prudence. The 2020 budget seeks to reach a 1.5% of GDP deficit as
stipulated by the law. However, Fitch expects some marginal
slippage with the CG fiscal deficit projected at 1.9% of GDP.

The government passed a tax reform that included unification of the
tax system for the agricultural sector with the overall corporate
sector as well as an increase in 'sin taxes' on alcohol and sugary
drinks. These measures are aimed at funding the government's
priorities in infrastructure, health and education while meeting
its commitment to the FRL. The government estimates 0.7% of GDP in
additional revenues from the reform beginning in 2021. Fitch
expects the government to meet the 1.5% of GDP deficit target in
2021. The outlook for further major reforms, especially in the area
of pensions, has diminished. The president's popularity has
declined sharply since taking office and there are splits within
the ruling Colorado party in the Congress.

The general government debt to GDP is the lowest in the 'BB'
category at 20% of GDP versus the current 'BB' median of 46% for
2019. Fitch expects debt to gradually rise to 21.6% of GDP by 2021.
Nearly 80% of Paraguay's debt is denominated in foreign currency,
exposing the debt ratio to foreign exchange rate volatility.

Paraguay's shallow local capital market and limited domestic
financing options are rating constraints, although these are
consistent with the 'BB' category. The government has made some
progress in issuing local currency instruments at longer tenors,
albeit for relatively small amounts thus far. Public sector pension
funds are forbidden to invest in government domestic debt, which
limits local financing options and development of the market.

Paraguay's external indicators are broadly in line with 'BB'
category peers with net external debt at 8.5% of GDP versus the
'BB' current median of 9.6%. A large part of the external debt is
related to Itaipu and Yacyreta dams (jointly owned by Paraguay with
Brazil and Argentina, respectively). Debt related to the Itaipu dam
has been amortizing yearly and is expected to be fully paid off by
2022, improving Paraguay's external balance sheet. Net external
debt remains well below its historical high (38% of GDP in 2009).

International reserve coverage remains steady at 6.0 months of
current external payments versus 4.3 months for the 'BB' median,
which helps mitigate vulnerabilities from commodity dependence and
high financial dollarization. Fitch expects a fall in exports to
lead to a current account deficit of 1.1% of GDP in 2019, from a
balanced position in 2018.

Paraguay's structural features are weak compared to peers. However,
its governance indicators have improved over the last three years,
especially in the areas of government effectiveness, voice and
accountability and regulatory quality.

SOVEREIGN RATING MODEL (SRM) AND QUALITATIVE OVERLAY (QO)

Fitch's proprietary SRM assigns Paraguay a score equivalent to a
rating of 'BB' on the Long-Term Foreign Currency (LT FC) IDR
scale.

Fitch's sovereign rating committee adjusted the output from the SRM
to arrive at the final LT FC IDR by applying its QO, relative to
rated peers, as follows:

  - Macroeconomic: +1 notch, to reflect Paraguay's track record of
prudent and consistent macroeconomic policies, which have helped
anchor macroeconomic stability amid external and growth shocks.

RATING SENSITIVITIES

The main factors that could individually or collectively lead to an
upgrade include:

  - Continued improvement in governance indicators;

  - Improvements in revenue generation and development of the local
capital market that strengthen fiscal flexibility;

  - Higher economic growth (in the context of macro stability) that
increases prospects for GDP per capita convergence with higher
rated sovereigns.

The main factors that could individually or collectively lead to a
downgrade include:

  - A sustained deterioration in the country's economic prospects
and external accounts, for example due to a fall in commodity
prices or more frequent drought conditions;

  - A sustained fiscal deterioration in the context of financing
constraints.

KEY ASSUMPTIONS

The global economy performs largely in line with Fitch's Global
Economic Outlook. Fitch assumes that China (an important consumer
of soya) will be able to manage a gradual slowdown and is forecast
to grow at 6.1% in 2019 and 5.7% in 2020. Argentina's economy will
continue to underperform in 2019-2020, with growth forecast to
average -2.4% during the period. Brazil will grow just 1.1% in 2019
and 2.2% in 2020.

ESG CONSIDERATIONS

Paraguay has an ESG Relevance Score of 5 for Political Stability
and Rights as World Bank Governance Indicators have the highest
weight in Fitch's Sovereign Rating Model and is therefore highly
relevant to the rating and a key rating driver with a high weight.

Paraguay has an ESG Relevance Score of 5 for Rule of Law,
Institutional and Regulatory Quality and Control of Corruption as
World Bank Governance Indicators have the highest weight in Fitch's
Sovereign Rating Model and is therefore highly relevant to the
rating and a key rating driver with a high weight.

Paraguay has an ESG Relevance Score of 4 for Human Rights and
Political Freedoms as the Voice and Accountability pillar of the
World Bank Governance Indicators is relevant to the rating and a
rating driver.

Paraguay has an ESG Score of 4 for Creditor Rights as willingness
to service and repay debt is relevant to the rating and a rating
driver, as for all sovereigns.



=======
P E R U
=======

CAMPOSOL HOLDING: Fitch Affirms B+ LT IDRs, Outlook Stable
----------------------------------------------------------
Fitch Ratings affirmed to 'B+' the Long-Term Foreign and Local
Currency Issuer Default ratings of Camposol Holding PLC and
Camposol SA. The Rating Outlook is Stable. Simultaneously, Fitch
has withdrawn the ratings due to the upcoming reorganization of the
group's corporate structure and having no outstanding publicly
rated debt instruments.

KEY RATING DRIVERS

Leading Position in Peru: Camposol is a vertically integrated
producer of food products such as avocados, blueberries,
tangerines, mangoes, grapes, and other products. The company
controls the entire value chain: research and product development,
growing fields and ponds, processing facilities, and sales and
distribution channels. Camposol benefits from the worldwide trend
toward the consumption of healthy and more convenient products.
Gross profit is mainly generated from Blueberry and Avocado crops.

Resilient Performance: The group achieved a strong performance in
2018 mainly explained by higher volumes of blueberries and its
other products such as grapes, mangoes, and tangerines. EBITDA
reached USD150 million, up 19.7% compared to 2017. The seafood
business reported a slight-loss in 2018. Performance in the first
nine-month 2019 was challenged due to ongoing losses from the
seafood division and lower production from avocados partially
offset by strong volume growth coming from blueberries. EBITDA
reached USD104 million for the last twelve months ending Sept. 30,
2019. Fitch expects net leverage will trend below 3x by year-end
due to increased volumes from the fruit division whereas the
seafood segment should still be loss-making.

Exposure to Price and Climatic Risks: Camposol is exposed to price
and production yield fluctuation, and external factors such as the
El Nino or La Nina weather phenomena, which could damage cause
logistical issues. In the last five years, the company has faced
several El Nino phenomena, but the negative impact has been limited
due to the location of the plantations, far from the mountains,
which limited risks of landslides.

DERIVATION SUMMARY

Camposol's rating reflects the company's medium-sized operational
scale. Camposol displays a business profile that is unique in
Fitch's commodity rated portfolio due to the nature of products
sold (avocados, blueberries, shrimp and others); other peers are
mainly in the sugar and ethanol segments. The company operates in a
high business risk, commodity industry where performance is subject
to external shocks such as climatic events, natural disasters and
potential supply and demand imbalances creating yield and price
volatility of its products.

KEY ASSUMPTIONS

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

  -- Upcoming reorganization of the group's structure.

RATING SENSITIVITIES

  -- Rating sensitivities are no longer relevant for any of the
ratings given the rating withdrawal.

LIQUIDITY

Adequate Liquidity: Camposol's liquidity is adequate due to its
cash on hand and good access to local banks to finance working
capital requirements. Camposol had USD28 million in cash on hand
and USD59 million of short-term debt as of Sept. 30, 2019. The debt
is mainly comprised of secured working capital lines of credit.
Camposol redeemed its senior secured notes due 2021 with a USD 250
million secured syndicated loan due in 2025 obtained in December
2018.

ESG Considerations

For ESG consideration, unless otherwise disclosed in this section,
the highest level of ESG credit relevance is a score of 3 - ESG
issues are credit neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity.

Camposol has an ESG Relevance Score of 4 on governance for
ownership concentration due to the control of the company by the
Dyer Coriat family.

FULL LIST OF RATING ACTIONS

Fitch has affirmed and withdrawn the following ratings:

Camposol Holding Plc

  -- Long-Term Foreign Currency IDR at 'B+'; Outlook Stable;

  -- Long-Term Local Currency IDR at 'B+'; Outlook Stable.

Camposol SA

  -- Long-Term Foreign Currency IDR at 'B+'; Outlook Stable;

  -- Long-Term Local Currency IDR at 'B+;'Outlook Stable.

PERU LNG: Moody's Assigns Ba3 CFR; Alters Outlook to Stable
-----------------------------------------------------------
Moody's Investors Service downgraded PERU LNG S.R.L.'s senior
unsecured ratings on the company's existing notes to Ba3 from Baa3.
Simultaneously, Moody's withdrew PLNG's Baa3 issuer rating and
assigned a Ba3 corporate family rating to the company. The rating
actions were driven by weak cash flows and Moody's expectation that
PLNG's credit metrics will remain weak in the foreseeable future.
The rating outlook is stable. This concludes the rating review for
downgrade initiated on September 3, 2019.

Downgrades:

Issuer: PERU LNG S.R.L.

Senior Unsecured Regular Bond/Debenture, Downgraded to Ba3 from
Baa3

Withdrawals:

Issuer: PERU LNG S.R.L.

Issuer Rating, Withdrawn , previously rated Baa3

Assignments:

Issuer: PERU LNG S.R.L.

Corporate Family Rating, Assigned Ba3

Outlook Actions:

Issuer: PERU LNG S.R.L.

Outlook, Changed To Stable From Rating Under Review

RATINGS RATIONALE

PLNG's cash flow is vulnerable to volatile natural gas prices and
to production disruptions caused by adverse weather conditions or
unplanned plant maintenance, among others. The company will take
measures to reduce its exposure to i) adverse weather conditions
that affect loading vessels mainly in winter months (May through
July) and ii) price volatility. However, Moody's expects that major
improvements in cash flow are unlikely in 2020-21 given the rating
agency's negative view on natural gas prices and the company's
plans to invest in 2020-21 higher amounts of capital than
originally anticipated.

PLNG's cash generation so far in 2019 has been weak mainly due to
lower liquefied natural gas (LNG) prices than Moody's had expected
for the year but also due to lower production. In the first nine
months of 2019, although the company had sold close to 100% of its
cargos to non-Henry Hub markets, which have recently had better
commercial conditions, its average LNG price fell to $4.21 per
million British thermal units from $6.83/MMBtu in the same period
in 2018. In addition, volumes were affected by an unplanned plant
shutdown of 16 days, related to works in the Main Cryogenic Heat
Exchanger and Dry Gas Flare, as well as adverse weather conditions
that caused a 30-day closure of the port where Peru LNG delivers
LNG cargoes; as a result, the company's plant was closed for 46
days in the second quarter 2019.

For the full-year 2019, Moody's expects PLNG's production in the
range of 208-212 trillion British thermal units (TBtus) and EBITDA
to reach $100 million, which is well below management's original
expectations for the year, of about $200 million. As a consequence,
Moody's estimated that PLNG's reported debt/EBITDA will be over 9
times in 2019, with a low likelihood of a sharp decline in 2020 due
to weak LNG prices given limited prospects for robust global
economic growth.

PLNG's Ba3 ratings are based on its high leverage, small and single
operational asset base, as well as its exposure to natural gas and
LNG prices and adverse weather conditions, which brings in
operating and financial risk. These factors are counterbalanced by
PLNG's low supply risk, high capacity utilization rate, limited
competition risk, minimum foreign-exchange risk, adequate financial
policies, strong shareholder support and the high relevance of the
company to Peru's trade balance and energy industry.

PLNG has adequate liquidity. The company's cash on hand amounted to
$70 million in September 2019 and Moody's estimates that it will
generate about $75 million in cash from operations from October
2019 through December 2020. Interest expenses and capital spending
in the period will be about $51 million and $21 million,
respectively, and Moody's understands that the company will not pay
dividends related to 2019. Most of PLNG's accounts payable are
related to the $110 million in credit received from off-taker
SITME, which has no specific maturity date. PLNG's debt maturity is
comfortable because the amortization of the existing notes begins
in September 2024. The company has a $75 million committed
revolving credit facility that matures in 2021.

The stable rating outlook reflects Moody's expectation that PLNG's
credit profile will remain for the most part unchanged in 2020 but
will start an improving trend in late 2021.

PLNG's Ba3 ratings could be upgraded if it manages to decrease
leverage efficiently, as per EBITDA to gross debt below 6 times on
a sustainable basis, as well as if maintains an interest coverage
above 3.5 times, as per EBITDA to interest expense.

In turn, PLNG's Ba3 ratings could be downgraded if its interest
coverage falls to below 2 times with limited prospects of a quick
turnaround. In addition, a deterioration of the company's liquidity
profile and an increase in leverage above to 10 times could lead to
a rating downgrade.

The principal methodology used in these ratings was Midstream
Energy published in December 2018.

PLNG, based in Lima, has a 4.45 million tons per annum natural gas
liquefaction plant located in Pampa Melchorita, a marine terminal,
and a 408-kilometer pipeline that transports natural gas from the
Camisea fields (Cusco, Peru). The company is committed to selling
218 TBtus of LNG per year to a subsidiary of Shell (SITME), which
has committed to take-or-pay this annual volume (95% of PLNG's
total capacity) until 2028. In the last twelve months ended in
September 2019 it posted revenues of $674 million and EBITDA of
$140 million.


                           *********


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
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