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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

          Friday, March 5, 2021, Vol. 22, No. 41

                           Headlines



A R G E N T I N A

ALBANESI SA: Moody's Completes Review, Retains Caa3 Rating
GENERACION MEDITERRANEA: Moody's Completes Review
GENNEIA SA: Moody's Completes Review, Retains Caa3 Rating
MSU ENERGY: Moody's Completes Review, Retains Ca Rating
PAMPA ENERGIA: Moody's Completes Review, Retains Caa3 Rating

TRANSENER SA: S&P Lowers ICR to 'CCC-', Outlook Negative
TRANSPORTADORA DE GAS: Moody's Completes Review
YPF ENERGIA: Moody's Completes Review, Retains Caa3 Rating


B R A Z I L

AEGEA FINANCE: Moody's Completes Review, Retains Ba2 Rating
BRAZIL: Lockdowns, Curfews Return as Covid-19 Rages Unchecked
ELETROBRAS: Moody's Completes Review, Retains Ba2 Rating
LIGHT ENERGIA: Moody's Completes Review, Retains Ba3 Issuer Rating
LIGHT SESA: Moody's Completes Review, Retains Ba3 Issuer Rating



C O S T A   R I C A

BANCO DE COSTA RICA: Moody's Completes Review, Retains B2 Rating


D O M I N I C A N   R E P U B L I C

DOMINICAN REPUBLIC: 35%++ of Gasoline Price Tagged For Taxes
DOMINICAN REPUBLIC: Supermarkets Won't Accept Food Stamps


G U A T E M A L A

ENERGUATE TRUST: Moody's Completes Review, Retains Ba2 Rating


J A M A I C A

JAMAICA: EU Gives More Time to Correct Tax Regime


P A N A M A

UEP PENONOME II: Moody's Completes Review, Retains Ba3 Rating


P E R U

INRETAIL PHARMA: S&P Hikes ICR to 'BB+' on Robust 2020 Performance
INRETAIL SHOPPING: S&P Affirms 'BB' LongTerm ICR, Outlook Stable
NAUTILUS INKIA: Moody's Completes Review, Retains Ba3 Rating


P U E R T O   R I C O

EL BUCANERO CATERING: Hires Landrau Rivera & Associates as Counsel

                           - - - - -


=================
A R G E N T I N A
=================

ALBANESI SA: Moody's Completes Review, Retains Caa3 Rating
----------------------------------------------------------
Moody's Investors Service has completed a periodic review of the
ratings of Albanesi S.A. and other ratings that are associated with
the same analytical unit. The review was conducted through a
portfolio review discussion held on February 22, 2021 in which
Moody's reassessed the appropriateness of the ratings in the
context of the relevant principal methodology(ies), recent
developments, and a comparison of the financial and operating
profile to similarly rated peers. The review did not involve a
rating committee. Since January 1, 2019, Moody's practice has been
to issue a press release following each periodic review to announce
its completion.

This publication does not announce a credit rating action and is
not an indication of whether or not a credit rating action is
likely in the near future. Credit ratings and outlook/review status
cannot be changed in a portfolio review and hence are not impacted
by this announcement.

Key rating considerations

Albanesi's Caa3 rating reflects the company's exposure to CAMMESA
(Compania Administradora del Mercado Mayorista Electrico), an
agency controlled by the Government of Argentina (Ca), as the sole
off-taker for its power sales under long-term power purchase
agreements (PPAs).

The rating also incorporates that Albanesi's current liquidity
position is weak, with cash and equivalents as of September of only
$13 million. The company also has relatively high leverage, with a
ratio of debt to EBITDA of around 4.7 times for the last twelve
months as of September. (Moody's adjusted and measured in local
currency which may vary from the calculation in foreign currency).

The exchange offer completed by the end of last year will provide
Albanesi with some liquidity relief because it will alleviate its
2021 debt maturities; however, Albanesi will still face other
financial and commercial obligations. Furthermore, Albanesi will
continue requiring access to external financing, which can probe
challenging under the current market conditions prevailing in
Argentina.

The principal methodology used for this review was Unregulated
Utilities and Unregulated Power Companies published in May 2017.


GENERACION MEDITERRANEA: Moody's Completes Review
-------------------------------------------------
Moody's Investors Service has completed a periodic review of the
ratings of Generacion Mediterranea S.A and other ratings that are
associated with the same analytical unit. The review was conducted
through a portfolio review discussion held on February 22, 2021 in
which Moody's reassessed the appropriateness of the ratings in the
context of the relevant principal methodology(ies), recent
developments, and a comparison of the financial and operating
profile to similarly rated peers. The review did not involve a
rating committee. Since January 1, 2019, Moody's practice has been
to issue a press release following each periodic review to announce
its completion.

This publication does not announce a credit rating action and is
not an indication of whether or not a credit rating action is
likely in the near future. Credit ratings and outlook/review status
cannot be changed in a portfolio review and hence are not impacted
by this announcement.

Key rating considerations

Generacion Mediterranea's Caa3 rating, as a co-issuer under
Albanesi's notes, is based on Albanesi's Caa3 rating and
incorporates the company's exposure to CAMMESA (Compania
Administradora del Mercado Mayorista Electrico), an agency
controlled by the Government of Argentina (Ca), as the sole
off-taker for its power sales under long-term power purchase
agreements (PPAs).

The rating also considers that Albanesi's current liquidity
position is weak, with cash and equivalents as of September of only
$13 million. The company also has relatively high leverage, with a
debt to EBITDA of around 4.7 times for the last twelve months.
(Moody's adjusted and measured in local currency which may vary
from the calculation in foreign currency).

Exchange offer completed will provide Albanesi with some liquidity
relief because it will alleviate its 2021 debt maturities; however,
Albanesi will still face other financial and commercial
obligations. Furthermore, Albanesi will continue requiring access
to external financing, which can probe challenging under the
current market conditions prevailing in Argentina.

The principal methodology used for this review was Unregulated
Utilities and Unregulated Power Companies published in May 2017.


GENNEIA SA: Moody's Completes Review, Retains Caa3 Rating
---------------------------------------------------------
Moody's Investors Service has completed a periodic review of the
ratings of Genneia S.A. and other ratings that are associated with
the same analytical unit. The review was conducted through a
portfolio review discussion held on February 22, 2021 in which
Moody's reassessed the appropriateness of the ratings in the
context of the relevant principal methodology(ies), recent
developments, and a comparison of the financial and operating
profile to similarly rated peers. The review did not involve a
rating committee. Since January 1, 2019, Moody's practice has been
to issue a press release following each periodic review to announce
its completion.

This publication does not announce a credit rating action and is
not an indication of whether or not a credit rating action is
likely in the near future. Credit ratings and outlook/review status
cannot be changed in a portfolio review and hence are not impacted
by this announcement.

Key rating considerations

Genneia's Caa3 rating reflects the company's exposure to CAMMESA
(Compania Administradora del Mercado Mayorista Electrico), an
agency controlled by the Government of Argentina (Ca), as the main
off-taker for its power sales under long-term power purchase
agreements (PPAs). Although the company's leverage increased
significantly to support its rapid expansion in recent years, it is
now deleveraging fast as most of its projects are already operating
and generating strong levels of cash flow relative to debt.

The principal methodology used for this review was Unregulated
Utilities and Unregulated Power Companies published in May 2017.


MSU ENERGY: Moody's Completes Review, Retains Ca Rating
-------------------------------------------------------
Moody's Investors Service has completed a periodic review of the
ratings of MSU Energy S.A. and other ratings that are associated
with the same analytical unit. The review was conducted through a
portfolio review discussion held on February 22, 2021 in which
Moody's reassessed the appropriateness of the ratings in the
context of the relevant principal methodology(ies), recent
developments, and a comparison of the financial and operating
profile to similarly rated peers. The review did not involve a
rating committee. Since January 1, 2019, Moody's practice has been
to issue a press release following each periodic review to announce
its completion.

This publication does not announce a credit rating action and is
not an indication of whether or not a credit rating action is
likely in the near future. Credit ratings and outlook/review status
cannot be changed in a portfolio review and hence are not impacted
by this announcement.

Key rating considerations

MSU's Ca rating reflect the company's exposure to CAMMESA (Compania
Administradora del Mercado Mayorista Electrico), an agency
controlled by the Government of Argentina (Ca), as the sole
off-taker for its power sales under long-term power purchase
agreements (PPAs).

The rating also incorporates weak liquidity and high historical
leverage, with a Debt to EBITDA of 7.07x for the last twelve months
ended September 2020. Nevertheless, leverage is expected to decline
steadily since the company initiated full operations under a
combined cycle mode.

The principal methodology used for this review was Power Generation
Projects Methodology published in July 2020.


PAMPA ENERGIA: Moody's Completes Review, Retains Caa3 Rating
------------------------------------------------------------
Moody's Investors Service has completed a periodic review of the
ratings of Pampa Energia S.A. and other ratings that are associated
with the same analytical unit. The review was conducted through a
portfolio review discussion held on February 22, 2021 in which
Moody's reassessed the appropriateness of the ratings in the
context of the relevant principal methodology(ies), recent
developments, and a comparison of the financial and operating
profile to similarly rated peers. The review did not involve a
rating committee. Since January 1, 2019, Moody's practice has been
to issue a press release following each periodic review to announce
its completion.

This publication does not announce a credit rating action and is
not an indication of whether or not a credit rating action is
likely in the near future. Credit ratings and outlook/review status
cannot be changed in a portfolio review and hence are not impacted
by this announcement.

Key rating considerations

Pampa Energia S.A Caa3 rating reflects Moody's view on the credit
quality of that entity as being closely associated with the credit
quality of the Government of Argentina (Ca). All the company's
assets are located within Argentina and all of its operations are
carried out in Argentina, where the power markets are still
evolving.

Pampa's current rating anticipate that Pampa's size, footprint and
revenues will be significantly reduced after the sale of Edenor,
but also that the company will continue to benefit from the
revenues and profits of its other businesses that have proven to be
more stable than those provided by its regulated operations. The
recent increase in gas prices granted under the last Plan Gas
implemented by the government will further enhance Pampa's cash
flows and profits from other businesses.

The principal methodology used for this review was Unregulated
Utilities and Unregulated Power Companies published in May 2017.


TRANSENER SA: S&P Lowers ICR to 'CCC-', Outlook Negative
--------------------------------------------------------
S&P Global Ratings, on March 2, 2021, downgraded domestic energy
transmission company, Compania de Transporte de Energia Electrica
en Alta Tension TRANSENER S.A. (Transener) to 'CCC-' from 'CCC+'.

The outlook remains negative, reflecting not only the rising
refinancing risk but also the limited financing alternatives in the
Argentine market, the potential further worsening of Transener's
credit quality as a result of uncertainties over the approval of
rate adjustments, and very difficult business conditions in
Argentina.

The company hasn't announced how it intends to cover the August
bond maturity. Even though Transener's liquidity totaled ARP6.9
billion as of Sept. 30, 2020, the debt maturity of about ARP7
billion is due in less than six months, while the recently
announced extension of FX access restrictions reduces refinancing
alternatives. Argentina's deep recession and the uncertainty --
over whether the FX access limitations would still be applicable to
Transener's bond repayment -- prevented the company from coming up
with refinancing options. S&P expects the central bank's action to
further crimp Transener's ability to refinance its debt.

The current administration froze energy and gas rates and created a
commission to review the current regulations. S&P said, "As a
result, we adjusted our base-case scenario for Transener to reflect
greater uncertainty over its cash flows. We're currently not
applying any pass-through of inflation costs to rate increases
starting in 2021 because we view them as discretional."

In January 2021, the government announced that the electricity
market regulator (ENRE) started the process for the tariff
adjustment in order to establish a "Transitional Tariff Regime"
until a final agreement is met. Although we believe this is a first
step for the renegotiation of tariffs, there is still uncertainty
regarding the timing of the implementation as well as the magnitude
of the adjustment. Therefore, S&P views this regulatory uncertainty
as an additional obstacle for Transener in accessing capital
markets in any attempt to raise new, or refinance the existing,
debt.


TRANSPORTADORA DE GAS: Moody's Completes Review
-----------------------------------------------
Moody's Investors Service has completed a periodic review of the
ratings of Transportadora de Gas del Sur S.A. and other ratings
that are associated with the same analytical unit. The review was
conducted through a portfolio review discussion held on February
24, 2021 in which Moody's reassessed the appropriateness of the
ratings in the context of the relevant principal methodology(ies),
recent developments, and a comparison of the financial and
operating profile to similarly rated peers. The review did not
involve a rating committee. Since January 1, 2019, Moody's practice
has been to issue a press release following each periodic review to
announce its completion.

This publication does not announce a credit rating action and is
not an indication of whether or not a credit rating action is
likely in the near future. Credit ratings and outlook/review status
cannot be changed in a portfolio review and hence are not impacted
by this announcement.

Key rating considerations

Transportadora de Gas del Sur S.A. (TGS) Caa3 rating reflects
uncertainties on the future consistency of the regulatory framework
for regulated companies and the sufficiency of tariff adjustments
and also the linkages to Argentina's sovereign rating due to the
regulated nature of the company's operations. The ratings also
acknowledge low leverage, strong credit metrics and a good
liquidity position.

The principal methodology used for this review was Natural Gas
Pipelines published in July 2018.


YPF ENERGIA: Moody's Completes Review, Retains Caa3 Rating
----------------------------------------------------------
Moody's Investors Service has completed a periodic review of the
ratings of YPF Energia Electrica S.A. and other ratings that are
associated with the same analytical unit. The review was conducted
through a portfolio review discussion held on February 22, 2021 in
which Moody's reassessed the appropriateness of the ratings in the
context of the relevant principal methodology(ies), recent
developments, and a comparison of the financial and operating
profile to similarly rated peers. The review did not involve a
rating committee. Since January 1, 2019, Moody's practice has been
to issue a press release following each periodic review to announce
its completion.

This publication does not announce a credit rating action and is
not an indication of whether or not a credit rating action is
likely in the near future. Credit ratings and outlook/review status
cannot be changed in a portfolio review and hence are not impacted
by this announcement.

Key rating considerations

YPFEE's Caa3 rating reflects the company's exposure to CAMMESA and
Moody´s view on the credit quality of that entity as being closely
associated with the credit quality of the Government of Argentina
(Ca). All of the company's assets are located in Argentina and all
of its operations are carried out in Argentina, where the power
markets are still evolving. The assigned ratings also consider the
benefits of YPFEE revenues' diversification provided by long term
contracts with private counterparties.

The principal methodology used for this review was Unregulated
Utilities and Unregulated Power Companies published in May 2017.




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

AEGEA FINANCE: Moody's Completes Review, Retains Ba2 Rating
-----------------------------------------------------------
Moody's Investors Service has completed a periodic review of the
ratings of Aegea Finance S.a r.l. and other ratings that are
associated with the same analytical unit. The review was conducted
through a portfolio review discussion held on February 24, 2021 in
which Moody's reassessed the appropriateness of the ratings in the
context of the relevant principal methodology(ies), recent
developments, and a comparison of the financial and operating
profile to similarly rated peers. The review did not involve a
rating committee. Since January 1, 2019, Moody's practice has been
to issue a press release following each periodic review to announce
its completion.

This publication does not announce a credit rating action and is
not an indication of whether or not a credit rating action is
likely in the near future. Credit ratings and outlook/review status
cannot be changed in a portfolio review and hence are not impacted
by this announcement.

Key rating considerations.

The Ba2 stable rating assigned to the notes issued by Aegea Finance
S.a r.l. reflects the guarantee by AEGEA Saneamento e Participacoes
S.A. ("AEGEA"), therefore reflecting AEGEA's credit quality.

AEGEA is a holding company that operates long-term water and sewage
concessionaires/public-private partnerships (PPP) in various
municipalities across different Brazilian states being one of the
largest private water utilities in the country. AEGEA's credit view
acknowledges its solid business profile and resilient cash flows
supported by diversified operations with limited exposure to water
availability risk, along with an overall transparent and
predictable tariff mechanism and the evolving regulatory framework
for sanitation companies in Brazil. The ratings also factor in
continued shareholders support. AEGEA's shareholders are Equipav
(71.6% stake) and the Government of Singapore Investment
Corporation (GIC, 28.4% stake).

Given the domestic nature of the company's operations, the
Government of Brazil´s rating (Ba2) is a constraint to the
company´s credit quality. AEGEA's credit profile is also tempered
by its large dividend payments combined with a significant
expansion plan that negatively impacts the visibility into the
company's deleveraging reduction trends, while new expansion
contracts and M&A activities continue to add exposure to eventual
delays or costs overruns on the capital investment program.

The principal methodology used for this review was Regulated
Electric and Gas Utilities published in June 2017.


BRAZIL: Lockdowns, Curfews Return as Covid-19 Rages Unchecked
-------------------------------------------------------------
Maria Angelica Troncoso at EFE News reports that various levels of
lockdown were in effect in 13 of Brazil's 27 states as Covid-19
showed no sign of loosening its grip on the giant South American
nation.

With 254,221 deaths, Brazil is second only to the United States in
the number of lives lost to coronavirus and its 10.52 million
confirmed cases constitute the world's third-highest total behind
the US and India, according to EFE News.

When 1,541 people died of Covid-19 on Feb. 26, 2021, it was
Brazil's second deadliest day of the pandemic.

Daily average fatalities have been running at upwards of 1,000,
while infections are growing at the rate of nearly 50,000 a day, a
situation that "cannot be treated as a new normal," according to
Margareth Portela, part of the Covid-19 team at the Oswaldo Cruz
Foundation (Fiocruz), Latin America's largest medical research
center, the report notes.

After appearing to flatten in September, the contagion curve has
risen inexorably, she added.

In 17 state capitals, more than 80 percent of hospital intensive
care beds are occupied by Covid-19 patients, Fiocruz says in a
report, speaking of "the worst scenario ever seen" since
coronavirus was first detected in Brazil a year ago, the report
relays.

None of the 27 states are experiencing declines in the rate of new
infections and deaths, Fiocruz added.

Curfews ranging in duration from seven to 10 hours were implemented
in the states of Sao Paulo, Ceara, Parana, Paraiba, Bahia, Piaui,
Mato Grosso and Pernambuco.

Mato Grosso do Sul extended for two weeks the curfew imposed on
Dec. 11 and other states, including Acre and Santa Catarina,
ratcheted up existing restrictions, the report notes.

In Brasilia, the federal capital, will mark the start of an
open-ended shutdown of all activity save essential services and
religious rites, the report discloses.

The curfew in Sao Paulo, Brazil's wealthiest and most populous
state, took effect, but plenty of people remained on the streets of
Sao Paulo city, the report relays.

A small group of people dressed in matching T-shirts gathered on
Avenida Paulista, the city's main thoroughfare, to chant "Lockdown
No!" and demand the ouster of state Gov. Joao Doria, the report
discloses.

While authorities had announced fines for people violating the
curfew, police limited themselves to issuing warnings, the report
relays.

The greater virulence of the second wave seems to be the result of
the emergence of new mutations, including the so-called Brazilian
variant, the report notes.

Fiocruz said that only mass vaccination will bring the pandemic
under control in Brazil.

Rio de Janeiro-based Fiocruz, which is linked to the federal health
ministry, and Instituto Butantan, a unit of the Sao Paulo state
health department, have each obtained licenses to produce Covid-19
vaccines in Brazil, the report adds.

                            About Brazil

Brazil is the fifth largest country in the world and third largest
in the Americas.  Jair Bolsonaro is the current president, having
been sworn in on Jan. 1, 2019.

S&P Global Ratings affirmed on December 14, 2020, its 'BB-/B'
long-and short-term foreign and local currency sovereign credit
ratings on Brazil. The outlook on the long-term ratings remains
stable.

Fitch Ratings' credit rating for Brazil stands at 'BB-' with a
negative outlook (November 2020). Moody's credit rating for Brazil
was last set at Ba2 with stable outlook (April 2018). DBRS's credit
rating for Brazil is BB (low) with stable outlook (March 2018).

As reported in the Troubled Company Reporter-Latin America, S&P
Global Ratings' stable outlook assumes that timely implementation
of fiscal adjustment and modest economic recovery will help
preserve market confidence and adequate funding conditions for the
government in local markets in the next two years, despite a
sustained increase in the debt burden.


ELETROBRAS: Moody's Completes Review, Retains Ba2 Rating
--------------------------------------------------------
Moody's Investors Service has completed a periodic review of the
ratings of Centrais Eletricas Brasileiras SA-Eletrobras and other
ratings that are associated with the same analytical unit. The
review was conducted through a portfolio review discussion held on
February 22, 2021 in which Moody's reassessed the appropriateness
of the ratings in the context of the relevant principal
methodology(ies), recent developments, and a comparison of the
financial and operating profile to similarly rated peers. The
review did not involve a rating committee. Since January 1, 2019,
Moody's practice has been to issue a press release following each
periodic review to announce its completion.

This publication does not announce a credit rating action and is
not an indication of whether or not a credit rating action is
likely in the near future. Credit ratings and outlook/review status
cannot be changed in a portfolio review and hence are not impacted
by this announcement.

Key rating considerations

As a government-related issuer, Centrais Eletricas Brasileiras
SA-Eletrobras' Ba2 rating reflects a notch uplift from its
standalone credit profile as per Moody's Joint Default Analysis,
which incorporates an assumption of high dependence and moderate
level of support from the Government of Brazil (Ba2), the
controlling shareholder. On a standalone basis, Moody's assigns
Eletrobras a ba3 Baseline Credit Assessment, supported by the
company's dominant position in the Brazilian electricity market
with a strategic role in regional economic development, but
balanced by its high leverage, large contingencies and evolving
capital structure. It also incorporates our view that the company's
standalone credit profile will continue to improve gradually over
the next 12-18 months.

The principal methodologies used for this review were Unregulated
Utilities and Unregulated Power Companies published in May 2017.


LIGHT ENERGIA: Moody's Completes Review, Retains Ba3 Issuer Rating
------------------------------------------------------------------
Moody's Investors Service has completed a periodic review of the
ratings of Light Energia S.A. and other ratings that are associated
with the same analytical unit. The review was conducted through a
portfolio review discussion held on February 24, 2021 in which
Moody's reassessed the appropriateness of the ratings in the
context of the relevant principal methodology(ies), recent
developments, and a comparison of the financial and operating
profile to similarly rated peers. The review did not involve a
rating committee. Since January 1, 2019, Moody's practice has been
to issue a press release following each periodic review to announce
its completion.

This publication does not announce a credit rating action and is
not an indication of whether or not a credit rating action is
likely in the near future. Credit ratings and outlook/review status
cannot be changed in a portfolio review and hence are not impacted
by this announcement.

Key rating considerations

Light Energia S.A.'s Ba3 issuer rating reflects the consolidated
credit profile of its parent company, Light S.A (Light SA, Ba3) due
to financial and structural linkages between these two entities, as
per the corporate guarantee provided by Light SA to Light Energia's
debt issuances and the cross default clauses embedded in the
documentation of several debt issuances within the group. Light
SA's Ba3 corporate family rating incorporates Moody's views of its
diversified business profile with activities in generation,
distribution and commercialization of electricity balanced by the
high level of energy losses in its distribution segment, which
remains well above the regulatory requirements constraining the
cash flow conversion rate. It also considers that Light's credit
metrics will gradually improve on the back of the company's
committed to its ongoing business turnaround plan, which includes
an active liability management strategy and improvement of
operational performance.

On a standalone basis, Light Energia's credit profile considers the
asset features of its six hydroelectric power plants along with
ownership interests and shared control in other entities dedicated
to renewable energy production, such as Guanhaes Energia S.A.
Moody's credit view for Light Energia considers its revenue
diversification and unhedged exposure to hydrology risks.

The principal methodology used for this review was Unregulated
Utilities and Unregulated Power Companies published in May 2017.


LIGHT SESA: Moody's Completes Review, Retains Ba3 Issuer Rating
---------------------------------------------------------------
Moody's Investors Service has completed a periodic review of the
ratings of Light Servicos De Eletricidade S.A. and other ratings
that are associated with the same analytical unit. The review was
conducted through a portfolio review discussion held on February
24, 2021 in which Moody's reassessed the appropriateness of the
ratings in the context of the relevant principal methodology(ies),
recent developments, and a comparison of the financial and
operating profile to similarly rated peers. The review did not
involve a rating committee. Since January 1, 2019, Moody's practice
has been to issue a press release following each periodic review to
announce its completion.

This publication does not announce a credit rating action and is
not an indication of whether or not a credit rating action is
likely in the near future. Credit ratings and outlook/review status
cannot be changed in a portfolio review and hence are not impacted
by this announcement.

Key rating considerations

Light Servicos De Eletricidade S.A. (Light SESA)'s Ba3 issuer
rating issuer rating reflects the consolidated credit profile of
its parent company, Light S.A (Light SA, Ba3) due to financial and
structural linkages between these two entities, as per the
corporate guarantee provided by Light SA to Light SESA's debt
issuances and the cross default clauses embedded in the
documentation of several debt issuances within the group. Light
SA's Ba3 corporate family rating incorporates Moody's views of its
diversified business profile with activities in generation,
distribution and commercialization of electricity. It also
considers Moody's expectation that Light's credit metrics will
gradually improve on the back of the company's committed to its
ongoing business turnaround plan, which includes an active
liability management strategy and improvement of operational
performance.

On a standalone basis, Light SESA's credit profile incorporates
Moody's expectation of gradually improving consolidated credit
metrics balanced by the social and economic challenges of its
service area in the state of Rio de Janeiro that translates. The
credit profile is constrained by large capital spending
requirements of Light SESA to reduce energy losses.

The principal methodology used for this review was Regulated
Electric and Gas Utilities published in June 2017.




===================
C O S T A   R I C A
===================

BANCO DE COSTA RICA: Moody's Completes Review, Retains B2 Rating
----------------------------------------------------------------
Moody's Investors Service has completed a periodic review of the
ratings of Banco de Costa Rica and other ratings that are
associated with the same analytical unit. The review was conducted
through a portfolio review discussion held on March 1, 2021 in
which Moody's reassessed the appropriateness of the ratings in the
context of the relevant principal methodology(ies), recent
developments, and a comparison of the financial and operating
profile to similarly rated peers. The review did not involve a
rating committee. Since January 1, 2019, Moody's practice has been
to issue a press release following each periodic review to announce
its completion.

This publication does not announce a credit rating action and is
not an indication of whether or not a credit rating action is
likely in the near future. Credit ratings and outlook/review status
cannot be changed in a portfolio review and hence are not impacted
by this announcement.

Key rating considerations

Banco de Costa Rica's (BCR) B2 long-term global local-currency
deposit rating is in line with Costa Rica's government bond rating
and is at the same level of the bank's b2 baseline credit
assessment. The deposit ratings reflect Moody's assumption of full
government support, based on an explicit support set in Costa
Rica's Banking Law, as well as the bank's public policy mandate and
sizeable deposit base as the country's second largest financial
institution.

BCR's b2 BCA reflects the bank's weak capitalization and
profitability, given high operating outlays and significant
mandatory transfers to government entities. The BCA also reflects
the high underlying inter-linkages between the bank's standalone
profile and that of the sovereign, in light of its direct and
indirect exposures to the sovereign risk in the form of government
securities holdings and a potential deterioration in the operating
environment. Furthermore, asset risks are fueled by
slower-than-historical economic growth in Costa Rica and high
unemployment, all exacerbated by the coronavirus pandemic. In
addition, BCR's asset risk also reflects borrowers' exposure to
foreign-currency risk, as part of foreign-currency denominated
loans are granted to borrowers with revenues in local-currency.
Conversely, BCR's BCA benefits from the bank's ample liquidity and
good access to low-cost retail deposits, which helps limit
refinancing and repricing risks.

The principal methodology used for this review was Banks
Methodology published in November 2019.




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

DOMINICAN REPUBLIC: 35%++ of Gasoline Price Tagged For Taxes
------------------------------------------------------------
Dominican Today reports that more than half of the price of
gasoline is comprised of taxes charged by the Dominican Republic
Government and the companies' marketing margins that distribute and
market the fuels.

Gasolines are the fuels most affected by tax collection. Taxes
represent between 35.3 and 36.7% of their prices, while for regular
diesel and fuel oil they are around 25%, according to Dominican
Today.  Liquefied Petroleum Gas (LPG) is the fuel least taxed by
the Government, adding only 11% to its price, the report notes.

The rest is added by the distributors' margins, transporters, and
fuel retailers, the report relays.  In most cases, these companies
add between 17 and 20% to the price of hydrocarbons for their
handling from the refinery to the service station, the report
notes.

Marketing margins are set by the Ministry of Industry, Commerce,
and MSMEs through resolutions, the report discloses.  At the same
time, taxes are defined through laws 495-06 Ad Valorem and 112-00
of Hydrocarbons, which President Luis Abinader proposed to modify,
the report relays.

According to the president during his rendering of accounts before
the National Congress, the legal reform has the objective "to
review the cost structure and what is related to the current
setting of fuel prices," according to the president before the
National Congress, the report discloses.

Government sources indicated that the legal project would be
delivered to Abinader in two or three weeks, after which it will be
sent to parliament, the report notes.  They did not give further
details on the proposed changes, the report says.

One of the issues defined by Law 112-00 and one of the government's
taxes for the consumption of fuels is how their prices are
calculated, the report relays.

The Government resolved one of the largest increases in hydrocarbon
prices in recent months, the report discloses.  

                  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. Luis Rodolfo
Abinader Corona is the current president of the nation.

The Troubled Company Reporter-Latin America reported in April 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.

Fitch Ratings on Jan. 18, assigned a 'BB-' rating to Dominican
Republic's USD1.5 billion 5.3% notes due Jan. 21, 2041.
Concurrently, the Dominican Republic reopened its 2030 4.5% notes
for an additional USD1.0 billion, which Fitch rates 'BB-', raising
the total outstanding amount of the 2030 notes to USD2.0 billion.

Standard & Poor's, on December 4, 2020, affirmed its 'BB-'
long-term foreign and local currency sovereign credit ratings on
the Dominican Republic. The outlook remains negative. S&P also
affirmed its 'B' short-term sovereign credit ratings. The negative
outlook reflects S&P's view that it could lower the ratings on the
Dominican Republic over the next six to 18 months, given the
severe
impact of the COVID-19 pandemic on the sovereign's already
vulnerable fiscal and external profiles, as well as the potential
for a weaker-than-expected economic recovery.

Moody's credit rating for Dominican Republic was last set at Ba3
with stable outlook (July 2017). Fitch's credit rating for
Dominican Republic was last reported at BB- with negative outlook
(May 8, 2020).


DOMINICAN REPUBLIC: Supermarkets Won't Accept Food Stamps
---------------------------------------------------------
Dominican Today reports that the Social Subsidies Administrator
(Adess) notified the large supermarket chains that as of March 14,
they will be excluded from the Social Supply Network (RAS) due to
the gradual dismantling of beneficiaries and the decrease in the
amount of the subsidy (food stamps) from the Stay at Home program,
in transition to the Superate program.

In a letter, Adess director Digna Reynoso thanked for the support
received as well as the supply of goods and services to the
beneficiaries of the Stay at Home program, on which she
acknowledged that "[i]t was in high demand due to the presence of
more than a million beneficiaries," according to Dominican Today.

She said the Adess that this amount was covered by those businesses
satisfactorily with the protocol measures established by the
government to stop the spread of COVID-19 and the support of the
country's major commercial districts, 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. Luis Rodolfo
Abinader Corona is the current president of the nation.

The Troubled Company Reporter-Latin America reported in April 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.

Fitch Ratings on Jan. 18, assigned a 'BB-' rating to Dominican
Republic's USD1.5 billion 5.3% notes due Jan. 21, 2041.
Concurrently, the Dominican Republic reopened its 2030 4.5% notes
for an additional USD1.0 billion, which Fitch rates 'BB-', raising
the total outstanding amount of the 2030 notes to USD2.0 billion.

Standard & Poor's, on December 4, 2020, affirmed its 'BB-'
long-term foreign and local currency sovereign credit ratings on
the Dominican Republic. The outlook remains negative. S&P also
affirmed its 'B' short-term sovereign credit ratings. The negative
outlook reflects S&P's view that it could lower the ratings on the
Dominican Republic over the next six to 18 months, given the
severe
impact of the COVID-19 pandemic on the sovereign's already
vulnerable fiscal and external profiles, as well as the potential
for a weaker-than-expected economic recovery.

Moody's credit rating for Dominican Republic was last set at Ba3
with stable outlook (July 2017). Fitch's credit rating for
Dominican Republic was last reported at BB- with negative outlook
(May 8, 2020).




=================
G U A T E M A L A
=================

ENERGUATE TRUST: Moody's Completes Review, Retains Ba2 Rating
-------------------------------------------------------------
Moody's Investors Service has completed a periodic review of the
ratings of Energuate Trust and other ratings that are associated
with the same analytical unit. The review was conducted through a
portfolio review discussion held on February 24, 2021 in which
Moody's reassessed the appropriateness of the ratings in the
context of the relevant principal methodology(ies), recent
developments, and a comparison of the financial and operating
profile to similarly rated peers. The review did not involve a
rating committee. Since January 1, 2019, Moody's practice has been
to issue a press release following each periodic review to announce
its completion.

This publication does not announce a credit rating action and is
not an indication of whether or not a credit rating action is
likely in the near future. Credit ratings and outlook/review status
cannot be changed in a portfolio review and hence are not impacted
by this announcement.

Key rating considerations

Energuate Trust's Ba2 rating reflects the combined profile of the
regulated electric distribution utilities that jointly and
severally guarantee all the obligations due under the $330 million
notes: Distribuidora de Electricidad de Occidente, S.A. (DEOCSA)
and Distribuidora de Electricidad de Oriente, S.A. (DEORSA), trade
name: Energuate.

The credit factors in that the utilities' cash flows benefit from
several credit supportive recovery mechanisms and belonging to a
multi-subsidiary group. Energuate's rating is underpinned by
Moody's expectation of strong combined credit metrics, including a
ratio of CFO pre-W/C to debt that will continue to exceed 14%, on a
sustained basis, and liquidity profile given their access to
committed credit facilities ($40 million). These strong credit
metrics and liquidity profile are balanced against the
unpredictability of the tariff review process in Guatemala, as
evidenced by the long lasting developments of the last VAD review
processes.

The principal methodology used for this review was Regulated
Electric and Gas Utilities published in June 2017.




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

JAMAICA: EU Gives More Time to Correct Tax Regime
-------------------------------------------------
RJR News reports that the European Union (EU) has decided to give
Jamaica more time to get its tax regime in line with EU
regulations.

Jamaica has until December 31, 2022 to adapt the laws it has
committed to.

Barbados -- which was added to the EU's blacklist in October 2020
-- joins Jamaica on the grey list, as it awaits a supplementary
review by the EU Global Forum, according to RJR News.

The EU's list of non-cooperative jurisdictions for tax purposes was
established in December 2017, the report relays.

                          About Jamaica

Jamaica is an island country situated in the Caribbean Sea. Jamaica
is an upper-middle income country with an economy heavily dependent
on tourism.  Other major sectors of the Jamaican economy include
agriculture, mining, manufacturing, petroleum refining, financial
and insurance services.

Standard & Poor's credit rating for Jamaica stands at B+ with
negative outlook (April 2020).  Fitch's credit rating for Jamaica
was last reported at B+ with stable outlook (April 2020). Moody's
credit rating for Jamaica was last set at B2 with stable outlook
(December 2019).  

As reported in the Troubled Company Reporter-Latin America, Fitch's
revision of Jamaica's outlook in April 2020 to Stable from Positive
reflects the shock to Jamaica from the coronavirus pandemic, which
is expected to lead to a sharp contraction in its main sources of
foreign currency revenues: tourism, remittances and alumina
exports.




===========
P A N A M A
===========

UEP PENONOME II: Moody's Completes Review, Retains Ba3 Rating
-------------------------------------------------------------
Moody's Investors Service has completed a periodic review of the
ratings of UEP Penonome II, S.A. and other ratings that are
associated with the same analytical unit. The review was conducted
through a portfolio review discussion held on February 22, 2021 in
which Moody's reassessed the appropriateness of the ratings in the
context of the relevant principal methodology(ies), recent
developments, and a comparison of the financial and operating
profile to similarly rated peers. The review did not involve a
rating committee. Since January 1, 2019, Moody's practice has been
to issue a press release following each periodic review to announce
its completion.

This publication does not announce a credit rating action and is
not an indication of whether or not a credit rating action is
likely in the near future. Credit ratings and outlook/review status
cannot be changed in a portfolio review and hence are not impacted
by this announcement.

Key rating considerations

The Ba3 rating assigned considers the material contracted cash
flows from UEP II's creditworthy counterparties, the Panamanian
distribution companies, stemming from the public auctioned PPAs. In
addition, the ratings reflect the competitiveness of UEP II and
Tecnisol assets as well as the role of non-hydro renewables that
complement Panama's energy matrix. In addition, our assessment
considers the project finance features embedded in the transaction
and the fully amortizing debt profile. The strengths mentioned
above are partially mitigated by the transaction's exposure to the
energy market, particularly the 5-year merchant tail.

The principal methodology used for this review was Power Generation
Projects Methodology published in July 2020.




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

INRETAIL PHARMA: S&P Hikes ICR to 'BB+' on Robust 2020 Performance
------------------------------------------------------------------
S&P Global Ratings, on March 3, 2021, raised its long-term issuer
credit and issue-level ratings on Peru-based drugstore and
pharmaceutical distribution company, InRetail Pharma S.A. (IP), to
'BB+' from 'BB', while its stand-alone credit profile (SACP)
remained at 'bb+'.

S&P said, "The stable outlook reflects our expectation that the
company will continue expanding its drugstore platform and
distribution network. We expect it to generate sufficient cash
flows to fund expansion plans and dividend payments, without
requiring significant additional debt. As a result, we expect IP's
net debt to EBITDA to be 2.0x-2.5x in 2021 and free operating cash
flow (FOCF) to debt to be above 15%."

Despite a pandemic-fueled economic crisis, IP's operations and
financial performance have fared well, thanks to the essential
nature of its businesses and its strong competitive position. Both
drugstore, and manufacturing, distribution, and marketing (MDM)
segments posted top-line growth of mid-single percentages in 2020.
Even though S&P originally expected greater pressure on the
company's profitability due to expenses related to COVID-19 and
disruption at the MDM segment, IP's was able to absorb these costs
and expand its omnichannel strategy. According to the latest
guidance, annual net store openings will total about 100,
moderately incrementing capex, but should maintain revenue growth
in the mid-single-percentage area in the next two years.

S&P said, "Due to its large share of revenue and EBITDA generation,
and assets, we continue to view IP as a highly strategic subsidiary
of InRetail Consumer Peru (IC; not rated), a core entity of
InRetail Peru Corp. (IPC; not rated), which in turn, we consider
core to Intercorp Retail Inc. (IR; not rated), the ultimate parent
company within our group analysis. IR engages in various
consumer-related activities through its subsidiaries, operating
several retail chains and brands, including pharmacies, food
retail, home improvement, department stores, consumer credit, and
the real estate (InRetail Shopping Malls [ISM; BB/Stable/--]). The
group's financial performance throughout the pandemic has been
better than expected, thanks to a robust performance of its food
retail and pharmacy units. For 2021, we expect the essential retail
segment to post healthy performance, in addition to a gradual
improvement in discretionary retail and real estate operations.
Therefore, we estimate that the group's leverage metrics will
decrease, after they reached a peak at the end of 2020 because of
the debt-financed acquisition of Makro. This results in a stronger
group profile and an upgrade of IP to 'BB+', now at the same level
as its SACP.

"We expect the company to maintain steady credit metrics through
2021, with sales growing at mid-single-digit rates, EBITDA margins
near 14%, and a solid cash generation. These factors would enable
IP to increase capex and dividend distributions without eroding its
credit metrics and liquidity position. Nonetheless, we expect a
sluggish economic recovery, given that the pandemic lingers, and
the vaccine rollout is off to a slow start in Peru, in addition to
the general elections the country will hold in the next few
months."


INRETAIL SHOPPING: S&P Affirms 'BB' LongTerm ICR, Outlook Stable
----------------------------------------------------------------
S&P Global Ratings, on March 3, 2021, affirmed its long-term issuer
and issue-level credit ratings on Peru-based real estate company,
InRetail Shopping Malls (ISM), and its senior unsecured notes due
2028 at 'BB'.

The stable outlook reflects S&P's expectation that the company will
continue to gradually recover, maintaining relatively high
occupancy while giving continued support to affected tenants,
without compromising its liquidity position.

In 2020, ISM posted revenue and EBITDA declines near 30% and 40%,
respectively, because of the COVID-19 pandemic in Peru, which
paralyzed several industries, including discretionary retail and
related real estate. This significantly hampered ISM's credit
metrics because a large share of its gross leasable area (GLA) has
been affected by the pandemic since March 2020. By year-end 2020,
80% of the company's GLA was open, up from about 20% in April 2020.
InS&P's view, a complete recovery won't occur until after 2021
because the vaccine rollout in Peru remains slow, which will likely
mean continued operating restrictions and limits on foot traffic in
malls at least for the first half of this year.

On Jan. 26, 2021, the Peruvian government announced new quarantine
measures lasting until March 1, 2021. These measures continued to
disrupt ISM's operations. During this period, about 50% of its GLA
remained open, with 13 malls out of 21 in extreme-risk regions.
S&P's revised forecast assumes that ISM's revenue, EBITDA, and cash
generation will continue underperforming compared to pre-pandemic
levels at least through most of this year, keeping our adjusted net
debt to EBITDA above 7.5x.

The company is supporting its tenants not legally allowed to
operate through different rent relief measures, weakening rental
income and cash flow in 2021. Moreover, ISM launched digital
initiatives to improve customer experience and provide tenants with
additional sales channels. The company maintains high occupancy
rates (near 93%) and a low concentration of renewals per year.
ISM's management has measures to preserve liquidity, by postponing
non-essential capex, having rigorous expense control, and drawing
available working capital lines and a medium-term loan. Therefore,
given the lack of major projects underway and an extended debt
maturity profile, S&P doesn't expect liquidity pressures in the
next 12 months, despite still challenging conditions.

S&P said, "We consider ISM a highly strategic subsidiary of
InRetail Peru Corp. (IPC, not rated), an entity directly owned by
Intercorp Retail Inc. (IR, not rated). IR is the retail division of
the investment holding company Intercorp Peru Ltd.
(BBB-/Stable/--); however, we consider IR as the ultimate parent
for our group analysis because we typically do not factor in
support or a cap from investment holding companies."

IR engages in different consumer-related activities: it owns
several retail chains, including pharmacies, supermarkets, home
improvement stores, and department stores. Given ISM's relevant
role as the real estate operator and developer unit for IR, we
consider ISM to be a highly strategic subsidiary for the group, and
to be aligned with and dependent upon the group's strategy and
objectives. Thus, S&P assumes that if the group were in financial
distress, it could draw support from ISM, while it also expects ISM
to receive support from the group if it were to fall into the same
situation.


NAUTILUS INKIA: Moody's Completes Review, Retains Ba3 Rating
------------------------------------------------------------
Moody's Investors Service has completed a periodic review of the
ratings of Nautilus Inkia Holdings LLC and other ratings that are
associated with the same analytical unit. The review was conducted
through a portfolio review discussion held on February 22, 2021 in
which Moody's reassessed the appropriateness of the ratings in the
context of the relevant principal methodology(ies), recent
developments, and a comparison of the financial and operating
profile to similarly rated peers. The review did not involve a
rating committee. Since January 1, 2019, Moody's practice has been
to issue a press release following each periodic review to announce
its completion.

This publication does not announce a credit rating action and is
not an indication of whether or not a credit rating action is
likely in the near future. Credit ratings and outlook/review status
cannot be changed in a portfolio review and hence are not impacted
by this announcement.

Key rating considerations

Nautilus Inkia Holdings SCS (Inkia)'s Ba3 rating reflects the
structurally subordinated position of the co-issuers' holding
company debt, vis-a-vis the debt outstanding at the subsidiaries.
It also assumes that the amount of holding company debt relative to
total consolidated debt will remain below 30%.

The structural subordination also considers Inkia's reliance on the
subsidiaries' dividends to service this debt. Inkia's credit
quality factors in the importance of the Peruvian subsidiary Kallpa
Generacion S.A. (Kallpa, Baa3), a significant source of cash flows,
and the Guatemalan regulated utility subsidiaries (Energuate Trust,
Ba2). The credit factors in the group's moderate carbon risk
transition, and multi-subsidiary operations with unregulated
generation companies located in several South and Central American
countries as well as the Caribbean. However, the operational and
geographic benefits are balanced against the group's exposure to
emerging markets and limited cash flows visibility of several
subsidiaries that are merchant or operate under short-term power
purchase agreements (PPAs).

Inkia's rating assumes that its combined credit profile will remain
well positioned within the rating category, including a ratio of
CFO pre-W/C to debt that exceeds 12%, and a cash distribution
policy that is not excessively onerous, particularly if the group
pursues new material growth opportunities. The rating factors in
that Inkia has no third-party liquidity arrangements. However, end
of 2019, Inkia successfully fully prepaid its $200 million bridge
loan (scheduled to mature in 2020) while the Company has a
commitment for the obligor to maintain at least $50 million in cash
at all times.

The principal methodology used for this review was Unregulated
Utilities and Unregulated Power Companies published in May 2017.



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

EL BUCANERO CATERING: Hires Landrau Rivera & Associates as Counsel
------------------------------------------------------------------
El Bucanero Catering Inc. seeks approval from the U.S. Bankruptcy
Court for the District of Puerto Rico to hire Landrau Rivera &
Assoc. as its legal counsel.

Landrau Rivera & Assoc. will render these legal services:

  (a) advise the Debtor regarding its duties and powers in its
      Chapter 11 case under the laws of the United States and
      Puerto Rico where it conducts its business or where it is
      involved in litigation;

  (b) advise the Debtor whether a reorganization is feasible
      and, if not, assist the Debtor in the orderly liquidation of
      its assets;

  (c) assist the Debtor in negotiation with its creditors in the
      preparation of a Chapter 11 plan;

  (d) prepare legal documents;

  (e) appear before the bankruptcy court, or any court in which
      the Debtor asserts a claim interest or defense directly or
      indirectly related to its bankruptcy case;

  (f) employ other professionals to complete the Debtor's
      financial reorganization; and

  (g) perform other legal services.

The hourly rates of Landrau Rivera & Assoc.'s counsel and staff are
as follows:

     Noemi Landrau Rivera, Esq.      $200
     Josue A. Landrau Rivera, Esq.   $175
     Legal and Financial Assistants   $75

In addition, the firm will seek reimbursement for fees and
expenses.

The Debtor paid a retainer of $10,000.

Noemi Landrau Rivera, Esq., an attorney at Landrau Rivera & Assoc.,
disclosed in court filings that the firm and its members are
"disinterested persons" within the meaning of Section 101(14) of
the Bankruptcy Code.

The firm can be reached through:
   
     Noemi Landrau Rivera, Esq.
     Landrau Rivera & Assoc.
     P.O. Box 270219
     San Juan, PR 00927-0219
     Telephone: (787) 774-0224
     Facsimile: (787) 793-1004
     Email: nlandrau@landraulaw.com

                  About  El Bucanero Catering

El Bucanero Catering Inc. sought protection for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D.P.R. Case No. 21-00484)
on Feb. 18, 2021.  At the time of the filing, the Debtor disclosed
assets of between $100,001 and $500,000 and liabilities of the same
range.  

The Debtor is represented by The Law Offices of Landrau Rivera &
Assoc.



                           *********


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 2021.  All rights reserved.  ISSN 1529-2746.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.

Information contained herein is obtained from sources believed to
be reliable, but is not guaranteed.

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delivered via e-mail.  Additional e-mail subscriptions for members
of the same firm for the term of the initial subscription or
balance thereof are US$25 each.  For subscription information,
contact Peter A. Chapman at 215-945-7000.
.


                  * * * End of Transmission * * *