/raid1/www/Hosts/bankrupt/TCRLA_Public/220916.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
Friday, September 16, 2022, Vol. 23, No. 180
Headlines
A R G E N T I N A
ARGENTINA: Attack on Cristina Fernandez Triggers Misinformation
ARGENTINA: IDB Reiterates Commitment to Address Liquidity Needs
ARGENTINA: Will Stick to IMF Targets to Reduce Budget Deficit
B R A Z I L
BRAZIL: Mercedes-Benz to Lay Off 3,600 Workers in Sao Paolo Plant
BRAZIL: Records Deflation of 0.36% in August, Second Month in a Row
C H I L E
CHILE: Economy to Grow 1.75% to 2.25% This Year, Bank Estimates
E L S A L V A D O R
EL SALVADOR: Bitcoin Experiment Falters One Year After Launch
P U E R T O R I C O
PUERTO RICO: PREPA Gets Additional Time for Debt Negotiations
- - - - -
=================
A R G E N T I N A
=================
ARGENTINA: Attack on Cristina Fernandez Triggers Misinformation
---------------------------------------------------------------
Buenos Aires Times reports that as soon as the news agencies began
transmitting the image of a man pulling the trigger of a pistol
aimed at the face of Vice-President Cristina Fernandez de Kirchner,
the social networks exploded with messages casting doubts about the
attack, installing the idea that it was "staged."
The hashtags #NoLesCreoNada, "#OperetaK", "#CFKSeVictimiza"and
#TodoCirco all became trending topics in the world of Twitter in
Argentina, where the first disinformation emerged barely two hours
after the attack, reaching users of Facebook, Instagram, Telegram
and Whatsapp, according to Buenos Aires Times.
Fernandez de Kirchner, 69, was unhurt by the attack from a firearm
which did not discharge a bullet despite the trigger being pulled
twice, the report notes. The attack, which took place on September
1 while she was greeting a group of supporters in front of her
flat, was condemned on Twitter by most of the country's political
leadership, the report relays.
But subscribing to the theory that it was all "set up," some
reports claimed that the C5N television news channel had reported
the attack in their website over three hours before it occurred,
the report discloses.
Seeking to verify this claim, AFP managed to discredit it by
exploring the source code of the C5N web page, which clearly showed
the time of publication of the report, a few minutes after the
attack, the report says.
Nevertheless, the denials did not prevent over 20,000 sceptics from
immediately echoing the disinformation, the report relays.
Online Contamination
Taquion consultants analysed conversations in social networks in
Argentina in the hours following the attack, reaching some 19
million users. They observed that out of 264,000 mentions of the
attack, the vast majority were supportive of the vice-president
(with hashtags like #TodosConCristina) while rejecting political
violence. Nevertheless, almost a third (31 percent) "concentrated
on disbelief," Sergio Doval, the director of the firm, explained to
AFP.
That three out of every 10 persons in the sample immediately
questioned an event seen and filmed by multiple witnesses places in
relief "the great problem suffered by the Argentine social fabric"
marked by a "profound lack of confidence in the institutions,"
according to Doval, the report discloses.
For political scientist Diego Reynoso, the director of Political
Satisfaction and Public Opinion survey (ESPOP in its Spanish
acronym) of San Andres University, that mistrust takes on a
momentum of its own in the era of the social networks, in which
"any news can have its opposite number in the form of people or
fake news immediately contaminating the discussion, generating
doubts and information bubbles," he told AFP, the report relays.
According to the ESPOP data, Cristina Fernandez de Kirchner has a
negative image of around 60 percent, the report notes.
"This also feeds mistrust, making for a hotbed for the circulation
of false information," pointed out Reynoso, adding: "Those already
predisposed against [Fernandez de] Kirchner will consume
information placing the attack in doubt and vice-versa," the report
says.
Either Side Of 'La Grieta'
Misinformation regarding the attack circulated on both sides of the
'grieta,' the term used in Argentina to describe the political
polarisation dividing Kirchnerite partisans from the opposition led
by the centre-right former president Mauricio Macri, the report
notes.
In the early hours of September 2, when the assailant had already
been identified as Fernando Sabag Montiel, word began to spread
that he was an employee of opposition leader and Buenos Aires City
Mayor Horacio Rodriguez Larreta, information which turned out to be
false, as verified by AFP, the report discloses.
The same occurred with two photoshopped images showing Sabag
Montiel smiling next to Macri and former Buenos Aires Province
governor María Eugenia Vidal, the report relays.
Further fabricated content sought to identify the accused as a
Kirchnerite militant as supposed evidence that the attack was
staged for the political benefit of the vice-president, the report
discloses.
On September 4, over 50,000 users in Argentina and Brazil assured
in the social networks that the weapon used in the attack was
really a water pistol.
The very way the networks function in groups reinforcing their own
beliefs, facilitates that process, the report relays.
"The niches are prone to disinformation and fertile ground for
'magic' thinking," pointed out Doval, concluding: "That way it is
very difficult to build bridges with the same values helping us to
converse constructively," the report adds.
About Argentina
Argentina is a country located mostly in the southern half of
South America. Its capital is Buenos Aires. Alberto Angel
Fernandez is the current president of Argentina after winning
the October 2019 general election. He succeeded Mauricio
Macri in the position.
Argentina has the third largest economy in Latin America. The
country's economy is an upper middle-income economy for fiscal
year 2019, according to the World Bank. Historically, however,
its economic performance has been very uneven, with high economic
growth alternating with severe recessions, income maldistribution
and in the recent decades, increasing poverty.
Last March 25, 2022, Argentina finalized agreement with the IMF
for a new USD44 billion Extended Funding Facility (EFF) intended
to fund USD40 billion in looming repayments of the defunct
Stand-By Arrangement (SBA), with an extra USD4 billion in up-front
net financing. This has averted the risk of a default to the IMF
and is facilitating a parallel rescheduling of Paris Club debt.
As reported by The Troubled Company Reporter - Latin America on
Aug. 12, 2022, S&P Global Ratings affirmed its foreign and
local-currency sovereign credit ratings of 'CCC+/C' on the
Republic of Argentina. The outlook remains stable. S&P also
affirmed its national scale 'raBBB-' rating and its 'CCC+' transfer
and convertibility assessment. S&P said the stable outlook reflects
the challenges in managing pronounced economic imbalances ahead of
the 2023 national elections given disagreement on policy within the
government coalition and financing pressures in the local market.
Last April 14, 2022, Fitch Ratings affirmed Argentina's Long-Term
Foreign and Local Currency Issuer Default Ratings (IDR) at 'CCC'.
Fitch said Argentina's 'CCC' ratings reflect weak external
liquidity and pronounced macroeconomic imbalances that undermine
debt repayment capacity, and uncertainty regarding how much
progress can be made on these issues under a new IMF program.
On July 19, 2022, Fitch Ratings placed Argentina's Long-Term
Foreign Currency Issuer Default Rating (IDR) and Long-Term Local
Currency IDR Under Criteria Observation (UCO) following the
conversion of the agency's Exposure Draft: Sovereign Rating
Criteria to final criteria. The UCO assignment indicates that
ratings may change as a direct result of the final criteria. It
does not indicate a change in the underlying credit profile, nor
does it affect existing Rating Outlooks.
Moody's credit rating for Argentina was last set at Ca on
Sept. 28, 2020.
DBRS has also confirmed Argentina's Long-Term Foreign Currency
Issuer Rating at CCC and Long-Term Local Currency Issuer Rating at
CCC (high) on July 21, 2022.
ARGENTINA: IDB Reiterates Commitment to Address Liquidity Needs
---------------------------------------------------------------
IDB President Mauricio Claver-Carone and Argentina's Minister of
Economy, Sergio Massa, met to discuss the Bank's ongoing efforts to
support Argentina and agreed to prioritize and optimize the Bank's
2022 lending program to maximize support for Argentina's liquidity
needs. The decision is the result of productive meetings during
which Claver-Carone and Massa discussed the minister's ideas and
economic policy plans for Argentina.
To demonstrate its commitment to Argentina, the IDB administration
will present in September a $700 million Special Development
Lending (SDL) package to the Board of Executive Directors to
finance the "Program to Support Improved Fiscal Management and
Economic Recovery." This reflects a $200 million increase from the
original amount, made possible by prioritizing Argentina's loan
portfolio. This is expected to be disbursed in September.
Furthermore, the IDB administration will present a $500 million
Policy-Based Lending (PBL) loan. This "Program to Support Public
Policies for Sustainable and Resilient Growth in Argentina is a
$200 million increase in budget support, also made possible by
prioritizing Argentina's programming. Together, these loans would
enable the IDB to increase support for Argentina from $800 million
to $1.2 billion in the final quarter of 2022. The Bank's budgetary
support for Argentina comes in the context of its compliance with
an existing agreement with the International Monetary Fund (SDL)
and the IDB's own evaluation of the country's macroeconomic
conditions (PBL).
During the meeting, President Claver-Carone and Minister Massa also
discussed final steps before the signature of another eight loans
already approved by the Bank's Board, totaling $1.208 billion.
These loans make a major investment in social infrastructure, and
include among other things, the "Program for Strengthening and
Integration of Health Networks in the Province of Buenos Aires -
PROFIR II," for $300 million; the "Neighborhood Improvement Program
V," for $150 million; and the "Program to Improve Water Services in
the Province of Buenos Aires," for $75 million.
In addition, they previewed a forthcoming signature between
Argentina and the IDB on the "Development, Investment, and
Facilitation Program for Argentine Nature Tourism: the Nature
Route."
The IDB's financing potential for the rest of 2022 could include
additional programs totaling $725 million. If approved, this would
increase the IDB's total loans to Argentina this year to $2.37
billion.
Minister Massa noted that technical teams are in the advanced
stages of discussions to define the country's loan operations
program for 2023, which is expected to total at least $1.8
billion.
About Argentina
Argentina is a country located mostly in the southern half of
South America. Its capital is Buenos Aires. Alberto Angel
Fernandez is the current president of Argentina after winning
the October 2019 general election. He succeeded Mauricio
Macri in the position.
Argentina has the third largest economy in Latin America. The
country's economy is an upper middle-income economy for fiscal
year 2019, according to the World Bank. Historically, however,
its economic performance has been very uneven, with high economic
growth alternating with severe recessions, income maldistribution
and in the recent decades, increasing poverty.
Last March 25, 2022, Argentina finalized agreement with the IMF
for a new USD44 billion Extended Funding Facility (EFF) intended
to fund USD40 billion in looming repayments of the defunct
Stand-By Arrangement (SBA), with an extra USD4 billion in up-front
net financing. This has averted the risk of a default to the IMF
and is facilitating a parallel rescheduling of Paris Club debt.
As reported by The Troubled Company Reporter - Latin America on
Aug. 12, 2022, S&P Global Ratings affirmed its foreign and
local-currency sovereign credit ratings of 'CCC+/C' on the
Republic of Argentina. The outlook remains stable. S&P also
affirmed its national scale 'raBBB-' rating and its 'CCC+' transfer
and convertibility assessment. S&P said the stable outlook reflects
the challenges in managing pronounced economic imbalances ahead of
the 2023 national elections given disagreement on policy within the
government coalition and financing pressures in the local market.
Last April 14, 2022, Fitch Ratings affirmed Argentina's Long-Term
Foreign and Local Currency Issuer Default Ratings (IDR) at 'CCC'.
Fitch said Argentina's 'CCC' ratings reflect weak external
liquidity and pronounced macroeconomic imbalances that undermine
debt repayment capacity, and uncertainty regarding how much
progress can be made on these issues under a new IMF program.
On July 19, 2022, Fitch Ratings placed Argentina's Long-Term
Foreign Currency Issuer Default Rating (IDR) and Long-Term Local
Currency IDR Under Criteria Observation (UCO) following the
conversion of the agency's Exposure Draft: Sovereign Rating
Criteria to final criteria. The UCO assignment indicates that
ratings may change as a direct result of the final criteria. It
does not indicate a change in the underlying credit profile, nor
does it affect existing Rating Outlooks.
Moody's credit rating for Argentina was last set at Ca on
Sept. 28, 2020.
DBRS has also confirmed Argentina's Long-Term Foreign Currency
Issuer Rating at CCC and Long-Term Local Currency Issuer Rating at
CCC (high) on July 21, 2022.
ARGENTINA: Will Stick to IMF Targets to Reduce Budget Deficit
-------------------------------------------------------------
globalinsolvency.com, citing WSJ Pro Bankruptcy, reports that
Argentina will stick to a deal with the International Monetary Fund
to gradually reduce the country's budget deficit amid a surge in
inflation, the country's top economic official said.
Economy Minister Sergio Massa met with IMF Managing Director
Kristalina Georgieva in Washington, D.C., and they said the IMF's
program with Argentina would remain unchanged, according to
globalinsolvency.com.
Ms. Georgieva said she welcomed Mr. Massa's "strong commitment and
drive to achieve the goals of the program." Mr. Massa, a leading
member of Argentina's ruling Peronist coalition who took over as
minister in July in the midst of an economic crisis, said in a
recent interview that he is focused on fiscal stability, increasing
central bank reserves and boosting exports, the report relays.
"We know we have an enormous challenge of recovering investor and
market confidence in Argentina," Mr. Massa said, the report
discloses.
Argentina reached a deal with the IMF earlier this year to
refinance a $44 billion bailout to avert a debt default and
currency meltdown, the report relays. The country initially took
on the bailout during the previous administration of center-right
President Mauricio Macri, the report notes. Under current
President Alberto Fernandez, Argentina agreed to reduce the fiscal
deficit and trim energy subsidies in exchange for pushing back the
debt payments to the IMF, the report adds.
About Argentina
Argentina is a country located mostly in the southern half of
South America. Its capital is Buenos Aires. Alberto Angel
Fernandez is the current president of Argentina after winning
the October 2019 general election. He succeeded Mauricio
Macri in the position.
Argentina has the third largest economy in Latin America. The
country's economy is an upper middle-income economy for fiscal
year 2019, according to the World Bank. Historically, however,
its economic performance has been very uneven, with high economic
growth alternating with severe recessions, income maldistribution
and in the recent decades, increasing poverty.
Last March 25, 2022, Argentina finalized agreement with the IMF
for a new USD44 billion Extended Funding Facility (EFF) intended
to fund USD40 billion in looming repayments of the defunct
Stand-By Arrangement (SBA), with an extra USD4 billion in up-front
net financing. This has averted the risk of a default to the IMF
and is facilitating a parallel rescheduling of Paris Club debt.
As reported by The Troubled Company Reporter - Latin America on
Aug. 12, 2022, S&P Global Ratings affirmed its foreign and
local-currency sovereign credit ratings of 'CCC+/C' on the
Republic of Argentina. The outlook remains stable. S&P also
affirmed its national scale 'raBBB-' rating and its 'CCC+' transfer
and convertibility assessment. S&P said the stable outlook reflects
the challenges in managing pronounced economic imbalances ahead of
the 2023 national elections given disagreement on policy within the
government coalition and financing pressures in the local market.
Last April 14, 2022, Fitch Ratings affirmed Argentina's Long-Term
Foreign and Local Currency Issuer Default Ratings (IDR) at 'CCC'.
Fitch said Argentina's 'CCC' ratings reflect weak external
liquidity and pronounced macroeconomic imbalances that undermine
debt repayment capacity, and uncertainty regarding how much
progress can be made on these issues under a new IMF program.
On July 19, 2022, Fitch Ratings placed Argentina's Long-Term
Foreign Currency Issuer Default Rating (IDR) and Long-Term Local
Currency IDR Under Criteria Observation (UCO) following the
conversion of the agency's Exposure Draft: Sovereign Rating
Criteria to final criteria. The UCO assignment indicates that
ratings may change as a direct result of the final criteria. It
does not indicate a change in the underlying credit profile, nor
does it affect existing Rating Outlooks.
Moody's credit rating for Argentina was last set at Ca on
Sept. 28, 2020.
DBRS has also confirmed Argentina's Long-Term Foreign Currency
Issuer Rating at CCC and Long-Term Local Currency Issuer Rating at
CCC (high) on July 21, 2022.
===========
B R A Z I L
===========
BRAZIL: Mercedes-Benz to Lay Off 3,600 Workers in Sao Paolo Plant
-----------------------------------------------------------------
Rocco Caldero at Rio Times Online reports that Mercedes-Benz said
it would lay off 3,600 employees in restructuring its truck and bus
chassis plant in the Brazilian state of Sao Paulo amid pressure on
its production.
The company said it plans to outsource elements of its operations
in the Brazilian city of Sao Bernardo to cope with cost pressures
and changing auto industry, according to Rio Times Online.
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.
As reported in the Troubled Company Reporter-Latin America on
July 18, 2022, Fitch Ratings has affirmed Brazil's Long-Term
Foreign Currency Issuer Default Rating at 'BB-' and revised the
Rating Outlook to Stable from Negative.
On June 17, 2022, S&P Global Ratings affirmed its 'BB-/B' long-
and short-term foreign and local currency sovereign credit
ratings on Brazil.
Moody's Investors Service also affirmed on April 15, 2022,
Brazil's long-term Ba2 issuer ratings and senior unsecured bond
ratings, (P)Ba2 senior unsecured shelf ratings, and maintained the
stable outlook.
DBRS Inc. confirmed Brazil's Long-Term Foreign and Local Currency
Issuer Ratings at BB (low) on Aug 12, 2022. At the same time,
DBRS Morningstar confirmed the Federative Republic of Brazil's
Short-term Foreign and Local Currency Issuer Ratings.
BRAZIL: Records Deflation of 0.36% in August, Second Month in a Row
-------------------------------------------------------------------
Richard Mann at Rio Times Online reports that Brazil recorded
deflation, or a price decline, for the second consecutive month.
The IPCA (National Wide Consumer Price Index) fell 0.36% in
August.
The IBGE (Brazilian Institute of Geography and Statistics) released
the result on Sept. 9, according to Rio Times Online.
The financial market had expected a slightly larger decline of
0.40% in August, the report notes.
The IPCA measures price fluctuations in the economy, the report
relays. Inflation means an increase in prices, while deflation
means a decrease in costs, the report discloses.
Brazil recorded the second consecutive decline in the index, 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.
As reported in the Troubled Company Reporter-Latin America on
July 18, 2022, Fitch Ratings has affirmed Brazil's Long-Term
Foreign Currency Issuer Default Rating at 'BB-' and revised the
Rating Outlook to Stable from Negative.
On June 17, 2022, S&P Global Ratings affirmed its 'BB-/B' long-
and short-term foreign and local currency sovereign credit
ratings on Brazil.
Moody's Investors Service also affirmed on April 15, 2022,
Brazil's long-term Ba2 issuer ratings and senior unsecured bond
ratings, (P)Ba2 senior unsecured shelf ratings, and maintained the
stable outlook.
DBRS Inc. confirmed Brazil's Long-Term Foreign and Local Currency
Issuer Ratings at BB (low) on Aug 12, 2022. At the same time,
DBRS Morningstar confirmed the Federative Republic of Brazil's
Short-term Foreign and Local Currency Issuer Ratings.
=========
C H I L E
=========
CHILE: Economy to Grow 1.75% to 2.25% This Year, Bank Estimates
---------------------------------------------------------------
Juan Martinez at Rio Times Online reports that Chile's economic
growth will be between 1.75 and 2.25 percent in 2022, with the
economy still several quarters below potential growth in the face
of global inflationary pressures, the central bank forecast.
According to the monetary policy report for September, the
institution also revised upward its annual inflation forecast for
2022, from an estimated 10 percent last June to 12 percent this
month, the report notes.
It said much of the revision was due to "accumulated volatile price
surprises and the recent depreciation of the peso," according to
Rio Times Online.
Inflation is expected to fall next year and reach the target range
of 3 percent in 2023, with price increases slowing from previous
months and economic activity and demand declining for several
quarters, the report relays.
Chile's central bank decided in a split vote to raise its monetary
policy rate for the tenth consecutive month to curb inflation, the
report discloses.
The rate was raised from 9.75 percent to 10.75 percent, the highest
since 1998, the report recalls.
According to official data, inflation stood at 13.1 percent
year-on-year in July, the highest level in nearly three decades,
driven by food prices, the report notes.
In mid-2021, the central bank initiated a policy of raising the key
interest rate in line with other central banks to counter global
inflation, the report says.
Then, in a scenario of high consumption and liquidity due to
household economic support during the pandemic, the institution
decided to withdraw monetary stimulus to curb activity and demand
in order to return to macroeconomic balance, the report discloses.
The latest projections in the Monetary Policy Report assume a
decline in prices in the coming months and annual inflation that
begins to fall next year, the report says.
"The Council is concerned about the risk of much more permanent
inflation. If they materialize, they could lead to further
tightening of monetary policy," the report said, the report adds.
=====================
E L S A L V A D O R
=====================
EL SALVADOR: Bitcoin Experiment Falters One Year After Launch
-------------------------------------------------------------
Rocco Caldero at Rio Times Online reports that a year after Bitcoin
was introduced as a means of payment, few people in El Salvador are
using the cryptocurrency.
The area where the world's first cryptocurrency city was to be
built - a circular metropolis that will use the energy of the
Conchagua volcano to mine the digital currency - is still a dense
jungle, according to Rio Times Online.
President Nayib Bukele had promised that "Bitcoin City" would be a
tax haven for crypto investors and miners, the report notes.
=====================
P U E R T O R I C O
=====================
PUERTO RICO: PREPA Gets Additional Time for Debt Negotiations
-------------------------------------------------------------
Michelle Kaske of Bloomberg News reports that Puerto Rico's
Electric Power Authority and its creditors have through Sept. 30 to
negotiate a deal to reduce about $9 billion of debt as the judge
overseeing the bankruptcy case continues to give the parties more
time to reach a restructuring plan.
Prepa, as the utility's known, and bondholders are set to meet on
Sept. 13, 2022 for an in-person mediation session, according to
court filings. US District Court Judge Laura Taylor Swain gave the
parties until Sept. 16 -- a one-week extension -- to strike a
debt-cutting deal and agreed to push out that deadline to Sept. 30,
2022.
About Puerto Rico
Puerto Rico is a self-governing commonwealth in association with
the United States that's facing a massive bond debt of $70 billion,
a 68% debt-to-GDP ratio and negative economic growth in nine of the
last 10 years.
The Commonwealth of Puerto Rico has sought bankruptcy protection,
aiming to restructure its massive $74 billion debt-load and $49
billion in pension obligations.
The debt restructuring petition was filed by Puerto Rico's
financial oversight board in U.S. District Court in Puerto Rico
(Case No. 17-01578) on May 3, 2017, and was made under Title III of
2016's U.S. Congressional rescue law known as the Puerto Rico
Oversight, Management, and Economic Stability Act ('PROMESA').
The Financial Oversight and Management Board later commenced Title
III cases for the Puerto Rico Sales Tax Financing Corporation
(COFINA) on May 5, 2017, and the Employees Retirement System (ERS)
and the Puerto Rico Highways and Transportation Authority (HTA) on
May 21, 2017. On July 2, 2017, a Title III case was commenced for
the Puerto Rico Electric Power Authority ("PREPA").
U.S. Chief Justice John Roberts has appointed U.S. District Judge
Laura Taylor Swain to oversee the Title III cases. The Honorable
Judith Dein, a United States Magistrate Judge for the District of
Massachusetts, has been designated to preside over matters that may
be referred to her by Judge Swain, including discovery disputes,
and management of other pretrial proceedings.
Joint administration of the Title III cases, under Lead Case No.
17-3283, was granted on June 29, 2017.
The Oversight Board has hired as advisors, Proskauer Rose LLP and
O'Neill & Borges LLC as legal counsel, McKinsey & Co. as strategic
consultant, Citigroup Global Markets, as municipal investment
banker, and Ernst & Young, as financial advisor.
Martin J. Bienenstock, Esq., Scott K. Rutsky, Esq., and Philip M.
Abelson, Esq., of Proskauer Rose; and Hermann D. Bauer, Esq., at
O'Neill & Borges are on-board as attorneys.
McKinsey & Co. is the Board's strategic consultant, Ernst & Young
is the Board's financial advisor, and Citigroup Global Markets Inc.
is the Board's municipal investment banker.
Prime Clerk LLC is the claims and noticing agent. Prime Clerk
maintains a case web site at
https://cases.primeclerk.com/puertorico
Epiq Bankruptcy Solutions LLC is the service agent for ERS, HTA,
and PREPA.
O'Melveny & Myers LLP is counsel to the Commonwealth's Puerto Rico
Fiscal Agency and Financial Advisory Authority (AAFAF), the agency
responsible for negotiations with bondholders.
The Oversight Board named Professor Nancy B. Rapoport as fee
examiner and to chair a committee to review professionals' fees.
*********
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
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USA, Marites O. Claro, Joy A. Agravante, Rousel Elaine T.
Fernandez, Julie Anne L. Toledo, Ivy B. Magdadaro, and Peter A.
Chapman, Editors.
Copyright 2022. All rights reserved. ISSN 1529-2746.
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