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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

          Monday, July 12, 2021, Vol. 22, No. 132

                           Headlines



B A H A M A S

BAHAMAS: IDB Bank Okays $40MM Support to Strengthen Health System


B E R M U D A

BERMUDA: Signs Up to Global Tax System Overhaul Plan


B R A Z I L

BRAZIL: Gets 5.18% GDP & 6.7% Inflation Forecast, FOCUS Says


C H I L E

LATAM AIRLINES: Aircastle Out as Committee Member


J A M A I C A

DIGICEL GROUP: Reports Drop in Sales & Earnings for 4th Qtr.


M E X I C O

FIDEICOMISO IRREVOCABLE 2400: S&P Cuts A-1 Notes Rating to BB+


P A R A G U A Y

FRIGORIFICO CONCEPCION: S&P Alters Outlook to Pos & Affirms 'B' ICR


S T .   V I N C E N T   A N D   T H E   G R E N A D I N E S

ST. VINCENT & GRENADINES: IMF OKs Financing Assistance Request


X X X X X X X X

[*] BOND PRICING: For the Week July 5 to July 9, 2021

                           - - - - -


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B A H A M A S
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BAHAMAS: IDB Bank Okays $40MM Support to Strengthen Health System
-----------------------------------------------------------------
The Inter-American Development Bank (IDB) approved $40 million to
strengthen the health system in The Bahamas, with an emphasis on
improving residents’ access in the country’s smaller islands.

Enhancing the capacity to provide primary healthcare by reinforcing
medical facilities and providing new medical equipment, it will
facilitate access and improved services to approximately 60,000
people living in nine Family Islands.

Improvements in the delivery of the primary healthcare model and
hospital services and the introduction of digital
health-information systems, including telemedicine and electronic
health records in 54 clinics, will improve access and quality of
healthcare. These measures will directly benefit at least 157,000
persons, or about 40% of the population of The Bahamas.

The operation aligns with the digitalization, climate change, and
gender and diversity priorities of the IDB's "Vision 2025," the
Bank’s blueprint for recovery and inclusive, sustainable growth
in Latin America and the Caribbean. It does so by offering
technological solutions that enable the delivery of more inclusive
health services, with special attention to strengthening the
resilience of clinics to natural hazards and climate change, while
implementing innovations in healthcare for victims of gender-based
violence.

The loan approval follows a separate $5 million loan by the
Bank’s private-sector arm, IDB Invest , approved on April 30. It
will benefit Doctors Hospital Health System Limited (DHHS), the
largest private hospital in The Bahamas, in response to the
evolving health requirements of the Bahamian population, especially
related to COVID-19.




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B E R M U D A
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BERMUDA: Signs Up to Global Tax System Overhaul Plan
----------------------------------------------------
royalgazette.com reports that Bermuda is among 130 jurisdictions to
agree to the outline of a two-pillar plan to overhaul the global
tax system.

But the island has made known its concerns over the timeline for
the project and about "technical and practical" aspects of the
plans, which include a global minimum tax rate of at least 15 per
cent, according to royalgazette.com.

The agreement came out of the meeting of the OECD/G20 Inclusive
Framework on Base Erosion and Profit Shifting, of which Bermuda is
a member, the report notes.

The OECD said that a detailed implementation plan together with
remaining issues will be finalized by October, the report relays.

The statement agreed upon by all but nine of the 139 Inclusive
Framework members outlines proposed international tax system
changes, designed to ensure that large multinational companies who
book significant profits in low-tax jurisdictions pay more tax in
the countries where they generate their revenue, the report
discloses.

The OECD published the full outline of the plans.

The Cayman Islands and the British Virgin Islands were among other
Inclusive Framework members who joined Bermuda in agreeing to the
statement, the report relays.  The nine who did not join the
statement were Barbados, Estonia, Hungary, Ireland, Kenya, Nigeria,
Peru, St Vincent and the Grenadines, and Sri Lanka, the report
notes.

The report discloses that the Bermuda Government said in a
statement: "As a country committed to transparency, co-operation
and high levels of compliance with international standards, the
Government of Bermuda joined the Statement on a new framework for
international taxation arising from the OECD ("Inclusive
Framework") meeting of July 1, 2021, and looks forward to
supporting its ongoing technical discussions ahead of the meeting
of G20 Finance Ministers in October 2021.

"Bermuda has been actively involved in ongoing discussions relating
to this initiative to present positions that reflect the national
interest and that of our various stakeholders.

"As part of that approach, we recognised the need to join with
other members of the Inclusive Framework to reach this position
supported by a significant majority of the membership."

The Government indicated that it had registered concerns,
particularly in relation to the financial services sector and
timeline for effective implementation, the report says.

The report discloses that Curtis Dickinson, the Minister of
Finance, said: "We fully intend to remain an active participant in
the ongoing work of the Inclusive Framework to complete the
development of an appropriate plan.

"We have noted areas of concern at a technical and practical level,
which we look forward to working to resolve constructively in the
months ahead.

"Financial services is a crucial area of focus for us, and the
private sector, given our role as a global hub in key industries
such as insurance/reinsurance. Businesses in this sector aid many
of the world’s most vulnerable in adversity, and provide climate
risk insurance which will be at the heart of making our planet
sustainable.

"In relation to the former, Bermuda re/insurers have paid out more
than a quarter of a trillion dollars over the past 20 years in
claims arising from both natural and man made disasters in the US
and EU alone.

"We remain committed to working collaboratively with partners in
the public and private sector to maximise benefits which can be
achieved as a result of this initiative."

KPMG in Bermuda tax experts Will McCallum and Sarah Robey described
the agreement as "historic" in a statement, the report relays.

They said: "Pillar One of the agreement is a significant departure
from the standard international tax rules of the last 100 years,
which largely require a physical presence in a country before that
country has a right to tax.

"Pillar Two secures an unprecedented agreement on a global minimum
level of taxation which has the effect of stipulating a floor for
tax competition among jurisdictions.

"The five-page statement reflects high-level agreement on key
political questions and design features of Pillars One and Two
following a two-day meeting of the Inclusive Framework," the report
adds.




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

BRAZIL: Gets 5.18% GDP & 6.7% Inflation Forecast, FOCUS Says
------------------------------------------------------------
Rio Times Online reports that the financial institutions consulted
by the Central Bank (BC) have again raised the forecast for the
growth of the Brazilian economy this year, from 5.05% to 5.18%.

For 2022, the expectation for the gross domestic product (GDP) -
the sum of all goods and services produced in the country - is
2.10% growth, a percentage slightly lower than the one forecast
last week (2.11%), according to Rio Times Online.

The financial market kept the projection of GDP expansion for 2023
and 2024 at 2.5%, the report notes.  The estimates are published in
the Focus Bulletin of July 5 published in Brasilia, the report
discloses.

                        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.

Fitch Ratings' credit rating for Brazil stands at 'BB-' with a
negative outlook (November 2020).  Fitch's 'BB-' Long-Term Foreign
and Local Currency Issuer Default Ratings (IDRs) has been affirmed
in May 2021.  Standard & Poor's credit rating for Brazil stands at
BB- with stable outlook (April 2020).  S&P's 'BB-/B' long-and
short-term foreign and local currency sovereign credit ratings for
Brazil were affirmed in December 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).




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C H I L E
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LATAM AIRLINES: Aircastle Out as Committee Member
-------------------------------------------------
The U.S. Trustee for Region 2 disclosed in a court filing that as
of July 7, these creditors are the remaining members of the
official committee of unsecured creditors in the Chapter 11 cases
of LATAM Airlines Group S.A. and its affiliates:

     1. Bank of New York Mellon
        Indenture Trustee for the 7.00% Senior Notes Due 2026
        240 Greenwich Street
        New York, New York 10286
        Attention: Gary S. Bush, Vice President
        Telephone: (212) 815-2747

     2. Sindicato De Empresa de Pilotos
        De Latam Airlines Group S.A.
        Cruz del Sur 133 Office 302
        Las Condes, Santiago, Chile
        Attention: Daniel Javier Bontempi Fernandez, President
        Telephone: +562 2723 5095

     3. Lufthansa Technik Aktiengesellschaft
        Weg beim Jager 193
        22335Hamburg, Fed.Rep.ofGermany
        Attention: Jens Fischer, Senior Manager
        Telephone: +49-40-5070-2709

     4. Repsol, S.A.
        Av. Victor Andres Belaunde 147 Torre 5
        Piso 3 San Isidro, Lima, Peru
        Attention: Eliana Flores Rios
        Head of Aviation America
        Telephone: +51 996413784

Aircastle Limited was previously identified as member of the
creditors' committee.  Its name no longer appears in the new
notice.

                     About LATAM Airlines Group

LATAM Airlines Group S.A. -- http://www.latam.com/-- is a
pan-Latin American airline holding company involved in the
transportation of passengers and cargo and operates as one unified
business enterprise.  It is the largest passenger airline in South
America.

Before the onset of the COVID-19 pandemic, LATAM offered passenger
transport services to 145 different destinations in 26 countries,
including domestic flights in Argentina, Brazil, Chile, Colombia,
Ecuador and Peru, and international services within Latin America
as well as to Europe, the United States, the Caribbean, Oceania,
Asia and Africa.

LATAM and its 28 affiliates sought Chapter 11 protection (Bankr.
S.D.N.Y. Lead Case No. 20-11254) on May 25, 2020. Affiliates in
Chile, Peru, Colombia, Ecuador and the United States are part of
the Chapter 11 filing.

The Debtors disclosed $21,087,806,000 in total assets and
$17,958,629,000 in total liabilities as of Dec. 31, 2019.

The Hon. James L. Garrity, Jr., is the case judge.

The Debtors tapped Cleary Gottlieb Steen & Hamilton LLP as
bankruptcy counsel, FTI Consulting as restructuring advisor, Lee
Brock Camargo Advogados as local Brazilian litigation counsel, and
Togut, Segal & Segal LLP and Claro & Cia in Chile as special
counsel.  The Boston Consulting Group, Inc. and The Boston
Consulting Group UK LLP serve as the Debtors' strategic advisors.
Prime Clerk LLC is the claims agent.

The official committee of unsecured creditors formed in the case
tapped Dechert LLP as its bankruptcy counsel, Klestadt Winters
Jureller Southard & Stevens, LLP as conflicts counsel, UBS
Securities LLC as investment banker, and Conway MacKenzie, LLC as
financial advisor.  Ferro Castro Neves Daltro & Gomide Advogados,
is the committee's Brazilian counsel.

The Ad Hoc Group of LATAM Bondholders tapped White & Case LLP as
counsel.

Glenn Agre Bergman & Fuentes, LLP, led by managing partner Andrew
Glenn and partner Shai Schmidt, has been retained as counsel to the
Ad Hoc Committee of Shareholders.




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

DIGICEL GROUP: Reports Drop in Sales & Earnings for 4th Qtr.
------------------------------------------------------------
RJR News reports that Digicel Group told creditors that sales and
earnings dropped in its fourth financial quarter to the end of
March as the COVID-19 pandemic continued to weigh on the business.

Digicel, with operations in 32 markets across the Caribbean,
Central American and Asia Pacific regions, saw service revenues
decline by two per cent to US$538 million on the same period in
2020, according to RJR News.

The Irish Times reported that earnings before interest, tax,
depreciation and amortization fell by three per cent to $253
million, the report notes.

Revenues and earnings were affected as many of its markets were hit
by severe COVID-19 restrictions, hitting tourism and general
economic activity, the report relays.

                      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 in April
2020, Moody's Investors Service downgraded Digicel Group Limited's
probability of default rating to Caa3-PD from Caa2-PD. At the same
time, Moody's downgraded the senior secured rating of Digicel
International Finance Limited to Caa1 from B3. All other ratings
within the group remain unchanged. The outlook is negative.

On April 10, 2020, the TCR-LA reported that Fitch Ratings has
downgraded Digicel Limited to 'C' from 'CCC', and its outstanding
debt instruments, including the 2021 and 2023 notes to 'C'/'RR4'
from 'CCC'/'RR4'. Fitch has also downgraded Digicel International
Finance Limited to 'CCC+' from 'B-'/Negative, and its outstanding
debt instruments, including the 2024 notes and the 2025 credit
facility, to 'CCC+'/'RR4' from 'B-'/'RR4'. Fitch has removed the
Negative Rating Outlook from DIFL.




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

FIDEICOMISO IRREVOCABLE 2400: S&P Cuts A-1 Notes Rating to BB+
--------------------------------------------------------------
S&P Global Ratings lowered its long-term global and national scale
ratings on calendar cancellation Fideicomiso Irrevocable y
Traslativo de Dominio Numero 2400's class A-1 notes and its
national scale rating on the class A-2 notes. At the same time, S&P
placed the ratings on CreditWatch with negative implications.

The notes are backed by a first-lien perfected security interest in
a portfolio of nine properties developed by Grupo GICSA S.A.B. de
C.V. (GICSA; B-/Watch Neg/mxB/Watch Neg) and managed by its
subsidiary, Desarrolladora 2054 S.A.P.I. de C.V. (Desarrolladora
2054; not rated), which are located in Mexico and have a combined
gross leasable area of retail, office, and mixed-use space.

S&P sid, "The rating actions reflect our view of an increased
operational risk for the transaction, which is mainly based on the
deterioration of the creditworthiness of GICSA. In our view, this
could potentially affect Desarrolladora 2054's capacity to service
the properties, pressuring the vacancy rates, and ultimately, the
cash flows to the trust."

The rating actions follow a similar rating action taken on GICSA,
which was recently lowered to 'B-' and placed on Credit Watch
Negative.

S&P said, "While the securitized properties have performed in line
with our expectations, we believe the increased operational risk no
longer corresponds to the previous rating levels. According to the
servicer's report, as of March 2021, the portfolio presented a
vacancy rate of 11.2%, which is in line with the figure reported in
December 2020 but still below our current assumption of 13.7%. On
the other hand, annualized net operating income was MXN1.27
billion, which is also in line with our current assumption. Cash
collections from the securitized properties continue recovering
from the lockdowns caused by the COVID-19 pandemic."

CreditWatch Listing

S&P said, "We expect to resolve the CreditWatch placement on the
notes within the next 90 days, after we have more detail on the
creditworthiness on GICSA. We may downgrade the global scale
ratings one notch if the issuer credit rating (ICR) on GICSA is
lowered to 'CCC', which could impose a rating cap on the notes at
'BB' per our operational risk criteria; otherwise, we may affirm
the ratings."

  Ratings Lowered And Placed On CreditWatch Negative

  Fideicomiso Irrevocable y Traslativo de Dominio Numero 2400

  Class senior A-1 MXN: to 'BB+ (sf)'/Watch Neg from 'BBB- (sf)'
  Class senior A-1 MXN: to 'mxAA-(sf)'/Watch Neg from 'mxAA+ (sf)'
  Class senior A-1 USD: to 'BB+ (sf)'/Watch Neg from 'BBB- (sf)'
  Class senior A-1 USD: to 'mxAA-(sf)'/Watch Neg from 'mxAA+ (sf)'
  Class senior A-2 MXN: to 'mxA+(sf)'/Watch Neg from 'mxAA- (sf)'

  Ratings Placed On CreditWatch Negative

  Fideicomiso Irrevocable y Traslativo de Dominio Numero 2400

  Class senior A-2 MXN: to 'BB+ (sf)'/Watch Neg from 'BB+ (sf)'

  MXN-- Mexican pesos.
  USD--U.S. dollars.




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

FRIGORIFICO CONCEPCION: S&P Alters Outlook to Pos & Affirms 'B' ICR
-------------------------------------------------------------------
S&P Global Ratings revised the outlook to positive from stable and
affirmed its 'B' issuer credit and issue-level ratings on
Paraguayan animal protein-processing company Frigorifico Concepcion
S.A. (Concepcion) and its debt outstanding. At the same time, S&P
assigned a 'B' rating to Concepcion's proposed senior secured
notes.

On June 21, 2021, Concepcion announced a cash tender offer for its
outstanding $161 million 10.25% senior secured notes due 2025. The
tender included the solicitation of consent to release all
collateral securing those obligations, subject to a 90% acceptance
rate. As of July 2, early tenders represented more than 95% of the
total outstanding. Following this event, the company announced on
July 6, 2021, its intention to issue new senior secured notes,
pledging all plants and equipment in Paraguay and its share of the
Bolivian plant. If successful, in S&P's opinion, the liability
management will extend debt maturities, reduce cost of capital, and
alleviate financial restrictions, improving the overall capital
structure. Liquidity improvement immediately after the transaction
will depend on the final amount issued, but will be credit positive
given the intense working capital in the industry, especially in
the current environment of high export prices and as the company
continues to expand.

Concepcion's slaughter activity reached approximately 160,000 head
of cattle in the first quarter of 2021 versus 113,000 in the first
quarter of 2020 (42% increase). The EBITDA margin increased to 13%
in the first quarter of 2021 compared with 11% in the same period
last year (40% growth), which is aligned with 13% in fiscal 2020
but much stronger than in previous years (9.6% in 2019 and less
than 6% in 2018). This improvement incorporates higher volumes from
the leasing contract with Frigorífico Norte S.A. (Frigonorte) and
the ramp-up of the company's Bolivian subsidiary, providing
economies of scale in production and sales. At the same time, the
company benefits from high meat demand and good momentum for meat
prices, achieving margins somewhat above those of competitors
because of the consistent cattle availability in Paraguay and
Bolivia. This positive trend of growth and profitability, along
with strong prices, should enable Concepcion to increase its size,
scale, and operating efficiency; and to improve its overall
business risk profile.

S&P said, "We expect higher leverage following the liability
management process because it is measured on a gross level, but we
also expect higher investments to increase production. We forecast
gross leverage of 3.0x-3.5x and funds from operations (FFO) to debt
of 20%-25% in 2021, improving to about 2.0x-2.5x and 40%,
respectively, in 2022. The challenge for Concepcion to reduce the
volatility of credit metrics and demonstrate resilience at cycle
downturns is reflected in our assessment of the financial risk
profile, which we view as aggressive."




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S T .   V I N C E N T   A N D   T H E   G R E N A D I N E S
===========================================================

ST. VINCENT & GRENADINES: IMF OKs Financing Assistance Request
--------------------------------------------------------------
The International Monetary Fund (IMF) Executive Board approved the
request by St. Vincent and the Grenadines for emergency financing
assistance of about US$11.6 million under the Large Natural
Disaster Window (LNDW) of the Rapid Credit Facility (RCF). The RCF
will help address the urgent balance of payment needs associated
with the explosive eruption of the La Soufriere volcano.

The ongoing eruption is hitting St. Vincent and the Grenadines
hard, compounding the economic and social/humanitarian impact of
the pandemic and by IMF staff's estimates, may result in economic
losses amounting to around 30 percent of GDP as infrastructure,
housing and crops are damaged.

This will be the first request under the LNDW of the RCF. A member
may qualify for the LNDW when urgent balance of payments needs stem
from a natural disaster that results in damages of at least 20
percent of the member’s GDP.

Washington, DC: The Executive Board of the International Monetary
Fund (IMF) approved a disbursement to St. Vincent and the
Grenadines following its request under the Large Natural Disaster
Window (LNDW) of the Rapid Credit Facility (RCF) for SDR8,172,450
(US$11.6 million). The RCF will help cover its balance of payment
and fiscal needs stemming from the explosive eruption of the La
Soufriere volcano that began on April 9, 2021. This request is the
first of its kind under the LNDW.

St. Vincent and the Grenadines is a small state, vulnerable to
external shocks, including large natural disasters. The explosive
volcanic eruption is hitting St. Vincent and the Grenadines hard,
creating an urgent balance of payments need and a humanitarian
crisis while the country continues to deal with the fallout from
the global pandemic. The economy is estimated to have contracted in
2020 by 3.8 percent as tourism activity fell 70 percent. While
considerable uncertainty about the evolution of the eruption
remains, IMF staff estimate the infrastructure damage to exceed 20
percent of GDP and for the economy to contract by 6.1 percent in
2021, with agriculture and related sectors severely affected. A
drop in fiscal revenues, combined with additional social, cleanup
and reconstruction expenditures, will increase the fiscal deficit
and financing needs. IMF support will help cover some of these
needs and allow the government to ease the impact on the
population.

Following the Executive Board discussion of the requests, Mr. Tao
Zhang, Deputy Managing Director and acting Chair, made the
following statement:

"The ongoing eruption of the La Soufriere volcano has compounded
the economic and social impact from the COVID-19 pandemic, creating
humanitarian challenges and immediate fiscal and balance of
payments needs. The eruption has destroyed livelihoods and a
significant part of agricultural crops, and has caused structural
damage to public infrastructure.

"The authorities responded to the emergency swiftly. A fiscal
package includes humanitarian support, income support for affected
sectors and displaced workers, and cleanup and reconstruction
spending. Large rebuilding expenses will be required given the
magnitude of the damages.

"The authorities remain committed to meeting the debt target set by
the Eastern Caribbean Central Bank (ECCB). Once the eruption
subsides, the authorities intend to undertake measures to ensure
debt sustainability and rebuild fiscal buffers, including
replenishing the Contingencies Fund and adhering to the Fiscal
Sustainability Framework.

"The ECCB and the Financial Services Authority (FSA) are
collaborating to safeguard financial stability. Efforts to
strengthen crisis management plans and enhance the AML/CFT
framework will help contain financial risks.

"IMF emergency support under the Large Natural Disaster window of
the Rapid Credit Facility will help fill St. Vincent and the
Grenadines’ balance of payments needs. This represents the first
time the window is used. Fund financing is expected to help
catalyze additional donor support. The authorities remain committed
to ensuring transparency and good governance in the use of
humanitarian and crisis-related spending."




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

[*] BOND PRICING: For the Week July 5 to July 9, 2021
-----------------------------------------------------
Issuer Name              Cpn     Price   Maturity  Country  Curr
-----------              ---     -----   --------  -------   ---
Automotores Gildemeist     6.8    54.9    1/15/2023    CL     USD
Argentine Republic Gov     8.3    72.9   12/31/2033    AR     USD
Enel Americas SA           5.8    32.7    6/15/2022    CL     CLP
YPF SA                    16.5    67.3     5/9/2022    AR     ARS
Provincia del Chubut A     4.5    2208    3/30/2021    AR     USD
Avadel Finance Cayman      4.5    55.0     2/1/2023    US     USD
Odebrecht Finance Ltd      6.0    16.4     4/5/2023    KY     USD
Sylph Ltd                  2.4    65.1    9/25/2036    KY     USD
Cia Energetica de Pern     6.2     1.1    1/15/2022    BR     BRL
Banco Macro SA            17.5    65.2     5/8/2022    AR     ARS
Argentina Bonar Bonds      7.6    74.4    4/18/2037    AR     USD
Argentine Republic Gov     8.3    74.5   12/31/2033    AR     USD
KrisEnergy Ltd             4.0    40.4     6/9/2022    SG     SGD
Metrogas SA/Chile          6.0    41.6     8/1/2024    CL     CLP
Corp Universidad de Co     5.9    64.2   11/10/2021    CL     CLP
Odebrecht Finance Ltd      6.0    16.4     4/5/2023    KY     USD
Cia Latinoamericana de     9.5    73.9    7/20/2023    AR     USD
Cia Latinoamericana de     9.5    74.3    7/20/2023    AR     USD
Noble Holding Internat     6.1    62.0     3/1/2041    KY     USD
Provincia del Chaco Ar     4.0     0.0    12/4/2026    AR     USD
Provincia de Buenos Ai     7.9    75.3    6/15/2027    AR     USD
Noble Holding Internat     6.2    62.2     8/1/2040    KY     USD
Provincia de Rio Negro     7.8    70.4    12/7/2025    AR     USD
Noble Holding Internat     5.3    60.5    3/15/2042    KY     USD
Provincia de Cordoba       7.1    72.7     8/1/2027    AR     USD
Province of Santa Fe       6.9    74.7    11/1/2027    AR     USD
Provincia de Rio Negro     7.8    70.3    12/7/2025    AR     USD
Polarcus Ltd               5.6    71.8     7/1/2022    AE     USD
AES Tiete Energia SA       6.8     1.2    4/15/2024    BR     BRL
Provincia de Rio Negro     7.8    70.3    12/7/2025    AR     USD
Argentine Republic Gov     8.3    72.9   12/31/2033    AR     USD
Empresa Electrica de l     2.5    63.8    5/15/2021    CL     CLP
Argentine Republic Gov     7.1    75.7    6/28/2117    AR     USD
Provincia del Chaco Ar     9.4    74.8    8/18/2024    AR     USD
Argentine Republic Gov     0.5    27.6   12/31/2038    AR     JPY
Banco Macro SA            17.5    65.2     5/8/2022    AR     ARS
Esval SA                   3.5    49.9    2/15/2026    CL     CLP
Argentine Republic Gov     8.3    72.9   12/31/2033    AR     USD
Provincia de Cordoba       7.1    74.7     8/1/2027    AR     USD
YPF SA                    16.5    67.3     5/9/2022    AR     ARS
Automotores Gildemeist     8.3    54.2    5/24/2021    CL     USD
City of Cordoba Argent     7.9    73.1    9/29/2024    AR     USD
Odebrecht Finance Ltd      6.0    16.4     4/5/2023    KY     USD
Province of Santa Fe       6.9    74.7    11/1/2027    AR     USD
Argentine Republic Gov     8.3    74.5   12/31/2033    AR     USD
Argentine Republic Gov     6.9    75.2    1/11/2048    AR     USD
Argentina Bonar Bonds      5.8    75.2    4/18/2025    AR     USD
Argentine Republic Gov     4.3    70.0   12/31/2033    AR     JPY
Automotores Gildemeist     6.8    54.9    1/15/2023    CL     USD
Province of Santa Fe       6.9    75.2    11/1/2027    AR     USD
Argentine Republic Gov     6.3    74.1    11/9/2047    AR     EUR
Fospar S/A                 6.5     1.2    5/15/2026    BR     BRL
YPF SA                    16.5    67.3     5/9/2022    AR     ARS
Automotores Gildemeist     8.3    54.2    5/24/2021    CL     USD
Province of Santa Fe       6.9    75.2    11/1/2027    AR     USD



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

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

Copyright 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.

The TCR Latin America subscription rate is US$775 per half-year,
delivered via e-mail.  Additional e-mail subscriptions for members
of the same firm for the term of the initial subscription or
balance thereof are US$25 each.  For subscription information,
contact Peter A. Chapman at 215-945-7000.
.


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