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

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

          Wednesday, July 17, 2024, Vol. 25, No. 143

                           Headlines



A R G E N T I N A

ARGENTINA: Inflation Snaps Milei's Five-Month Slowdown Streak
ARGENTINA: To Sell Dollars in Parallel FX Market, Caputo Says
ARGENTINA: Unfurls Aviation Reform Bid to Bring in Foreign Airlines
TRANSPORTADORA DE GAS: S&P Rates New Unsecured Bullet Notes 'CCC'


B R A Z I L

AMERICANAS SA: Independent Committee Ends Probe


H O N D U R A S

DELTA APPAREL INC: Faces Going-Concern Problem


J A M A I C A

JAMAICA: Needs Accelerated Help for Agriculture Sector


P U E R T O   R I C O

DESAROLLOS GJOM: Taps Luis R. Carrasquillo as Financial Consultant
DESARROLLOS GJOM: Sec. 341(a) Meeting of Creditors on July 29

                           - - - - -


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

ARGENTINA: Inflation Snaps Milei's Five-Month Slowdown Streak
-------------------------------------------------------------
Manuela Tobias at Bloomberg News reports that Argentina recorded
the first monthly pick-up in inflation of the year, marking a
slight reversal of the downward streak President Javier Milei put
in motion with his aggressive economic shock therapy.

Consumer prices rose 4.6 percent in June from May, below the 5.1
percent median forecast from economists in a Bloomberg survey,
according to Bloomberg News.  Annual inflation slowed a notch to
271.5 percent, according to government data published Friday, July
12, Bloomberg News notes.

Utilities led all categories in price hikes as Argentines'
electricity and gas bills soared in June while Milei slashed
generous subsidies that have allowed most households to pay less
than five percent of the real cost of electricity for years,
Bloomberg News relays.  In doing so, the administration more than
doubled energy bills for middle-class residences and set limits on
how much poor households can consume while benefitting from the
government assistance, Bloomberg News discloses.

To maintain voters' support and keep consumer prices in check in
July, the libertarian leader postponed further increases to fuel
taxes and utility prices that together would have added 1.2
percentage points to monthly inflation, according to JPMorgan Chase
& Co, Bloomberg News notes.

Monthly inflation eased quickly from a three-decade high of 25.5
percent in December to 4.2 percent in May, Bloomberg News says. A
slow two-percent monthly depreciation of the official peso
following an initial 54 percent devaluation has helped keep price
growth in check, Bloomberg News relays.

The need to keep a lid on inflation going forward is also the main
reason the government refuses to budge on the rate of depreciation,
despite growing signs the exchange rate is overvalued, Bloomberg
News discloses.

Since taking office in December, Milei has frozen nearly all public
works and allowed pensions and public wage growth to trail
inflation, Bloomberg News relays.  The brutal austerity measures
have taken a toll on consumption, construction and manufacturing,
deepening a recession that is expected to reverse in 2025,
Bloomberg News notes.

With inflation picking up, greater attention will now turn to the
Central Bank's benchmark rate, which Economy Minister Luis Caputo
said last month would no longer lag behind inflation, Bloomberg
News says.

Later in July, the Central Bank will swap out its repo notes for
new Treasury debt, which would become the monetary policy
instrument. The move would free the institution to move to positive
real rates without ballooning its liabilities, Bloomberg News
adds.

                      About Argentina

Argentina is a country located mostly in the southern half of South
America. Its capital is Buenos Aires. Javier Milei is the current
president of Argentina after winning the November 19, 2023 general
election. He succeeded Alberto Angel Fernandez 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.

The IMF's executive board completed on August 23, 2023, the fifth
and six reviews of Argentina's 30-month Extended Fund Facility
(EFF), and approved a US$7.5-billion disbursement to Argentina as
part of the larger program, which refinances payments Argentina
owes the institution from a previous bailout that failed to
stabilize the economy in 2018. Argentina would receive another IMF
disbursement in November of about US$2.75 billion pending another
staff-level agreement and board approval.

S&P Global Ratings, on March 15, 2024, raised its local currency
sovereign credit ratings on Argentina to 'CCC/C' from 'SD/SD' and
its national scale rating to 'raB+' from 'SD'. S&P also raised its
long-term foreign currency sovereign credit rating to 'CCC' from
'CCC-' and affirmed its 'C' short-term foreign currency rating. The
outlook on the long-term ratings is stable. In addition, S&P
revised its transfer and convertibility assessment to 'CCC' from
'CCC-'.

S&P said the stable outlook on the long-term ratings balances the
risks posed by pronounced economic imbalances and policy
uncertainties with the favorable change in near-term debt service
obligations. S&P also expect no further debt exchanges that it
would likely consider to be distressed.

Fitch Ratings upgraded on June 13, 2023, Argentina's Long-Term
Foreign Currency (FC) Issuer Default Rating (IDR) to 'CC' from
'C'and affirmed the Long-Term Local Currency (LC) IDR at 'CCC-'.
Fitch typically does not assign Outlooks to sovereigns with a
rating of 'CCC+' or below.

The upgrade of the FC IDR reflects that Fitch no longer deems a
default-like process to have begun, as the authorities have not
signaled a clear intention to follow through with an intra-public
debt swap announced in March. The new 'CC' rating signals a default
event of some sort appears probable in the coming years, regardless
of the outcome of upcoming elections. The affirmation of the LC IDR
at 'CCC-' follows the peso debt swap in June that Fitch did not
deem to be a "distressed debt exchange" (DDE).

Moody's Investors Service, in September 2022, affirmed Argentina's
Ca foreign-currency and local-currency long-term issuer and senior
unsecured ratings.  The outlook remains stable.  The decision to
affirm the Ca ratings balances Argentina's limited market access,
weak governance, and history of recurrent debt restructurings with
recent efforts to marshal fiscal and monetary measures to start
addressing underlying macroeconomic imbalances in the context of
the IMF program that was approved in 2022, according to Moody's.

DBRS, Inc. confirmed Argentina's Long-Term Foreign Currency Issuer
Rating at CCC and downgraded its Long-Term Local Currency Issuer
Rating to CCC from CCC (high) on March 3, 2023.


ARGENTINA: To Sell Dollars in Parallel FX Market, Caputo Says
-------------------------------------------------------------
Buenos Aires Times reports that Argentina's Central Bank will sell
US dollars in the country's parallel foreign exchange markets, a
move Economy Minister Luis Caputo called "a deepening of the
monetary framework."

Caputo and President Javier Milei began to detail a new strategy
Saturday, July 14, that seeks to contain the widening gap between
Argentina's official exchange rate and parallel rates traded in
financial markets, according to Buenos Aires Times.  While the
official peso rate is 919 per dollar due to currency controls, one
of the key parallel rates closed Friday at 1,405 per dollar, the
report notes.

Price increases on a monthly basis began to mildly accelerate in
June for the first time since Milei took office December 10,
according to government figures released, the report relays. Annual
inflation at 272 percent remains one of the highest in the world
and well into crisis territory, the report discloses.

Caputo, who is at the Sun Valley Conference in Idaho with Milei,
said the monetary authority will sell dollars in one of the
parallel FX markets, known as the 'blue chip swap' or 'contado con
liquidación,' to offset the emission of pesos from purchasing
dollars at the official exchange rate, the report relays.

"If the Central Bank purchases dollars in the official exchange
market, the equivalent emission of pesos will be sterilized by the
sale of equivalent dollars in the contado con liquidacion market,"
Caputo wrote in a series of posts on X, the report relays.

Banks will resell to the Central Bank their put options, guarantees
the monetary authority had provided to buy back notes if they fall
below a certain price, Caputo said in a radio interview, without
providing details, the report discloses.  Puts represent another
potential source of monetary issuance and a key obstacle to lifting
capital controls, the report relays.

The steps could likely exacerbate ongoing market concerns that the
government is letting the official exchange rate become too
overvalued by maintaining strict currency controls, the report
says.  They would also further impede the Central Bank's ability to
accumulate foreign reserves needed to lift the controls at some
point, and eventually repay US$44 billion to the International
Monetary Fund as well as return to international debt markets, the
report notes.

Government officials already project the Central Bank will lose
US$3 billion of reserves in the third quarter, the report relays.
After swiftly building back depleted reserves left by the previous
administration earlier in the year, the Central Bank more recently
has struggled to build reserves at the same pace as exporters sell
less abroad, voicing concern that the currency is too overvalued,
the report discloses.

In a television interview with LN+ earlier Saturday, Milei pledged
to keep battling inflation while maintaining a fiscal balance, the
report relays.

"We need to get those pesos out of the street, and it is going to
make the exchange gap fall," Milei said, referring to the market
intervention, the report adds.

                      About Argentina

Argentina is a country located mostly in the southern half of South
America. Its capital is Buenos Aires. Javier Milei is the current
president of Argentina after winning the November 19, 2023 general
election. He succeeded Alberto Angel Fernandez 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.

The IMF's executive board completed on August 23, 2023, the fifth
and six reviews of Argentina's 30-month Extended Fund Facility
(EFF), and approved a US$7.5-billion disbursement to Argentina as
part of the larger program, which refinances payments Argentina
owes the institution from a previous bailout that failed to
stabilize the economy in 2018. Argentina would receive another IMF
disbursement in November of about US$2.75 billion pending another
staff-level agreement and board approval.

S&P Global Ratings, on March 15, 2024, raised its local currency
sovereign credit ratings on Argentina to 'CCC/C' from 'SD/SD' and
its national scale rating to 'raB+' from 'SD'. S&P also raised its
long-term foreign currency sovereign credit rating to 'CCC' from
'CCC-' and affirmed its 'C' short-term foreign currency rating. The
outlook on the long-term ratings is stable. In addition, S&P
revised its transfer and convertibility assessment to 'CCC' from
'CCC-'.

S&P said the stable outlook on the long-term ratings balances the
risks posed by pronounced economic imbalances and policy
uncertainties with the favorable change in near-term debt service
obligations. S&P also expect no further debt exchanges that it
would likely consider to be distressed.

Fitch Ratings upgraded on June 13, 2023, Argentina's Long-Term
Foreign Currency (FC) Issuer Default Rating (IDR) to 'CC' from
'C'and affirmed the Long-Term Local Currency (LC) IDR at 'CCC-'.
Fitch typically does not assign Outlooks to sovereigns with a
rating of 'CCC+' or below.

The upgrade of the FC IDR reflects that Fitch no longer deems a
default-like process to have begun, as the authorities have not
signaled a clear intention to follow through with an intra-public
debt swap announced in March. The new 'CC' rating signals a default
event of some sort appears probable in the coming years, regardless
of the outcome of upcoming elections. The affirmation of the LC IDR
at 'CCC-' follows the peso debt swap in June that Fitch did not
deem to be a "distressed debt exchange" (DDE).

Moody's Investors Service, in September 2022, affirmed Argentina's
Ca foreign-currency and local-currency long-term issuer and senior
unsecured ratings.  The outlook remains stable.  The decision to
affirm the Ca ratings balances Argentina's limited market access,
weak governance, and history of recurrent debt restructurings with
recent efforts to marshal fiscal and monetary measures to start
addressing underlying macroeconomic imbalances in the context of
the IMF program that was approved in 2022, according to Moody's.

DBRS, Inc. confirmed Argentina's Long-Term Foreign Currency Issuer
Rating at CCC and downgraded its Long-Term Local Currency Issuer
Rating to CCC from CCC (high) on March 3, 2023.


ARGENTINA: Unfurls Aviation Reform Bid to Bring in Foreign Airlines
-------------------------------------------------------------------
Buenos Aires Times, citing Reuters, reports that the Argentine
government published a sweeping decree aimed at opening up the
country's aviation sector, inviting foreign airlines to enter the
market long dominated by state-run carrier Aerolineas Argentinas.

The reform should boost the number of routes, flight frequencies
and bring in more competitors, the transportation secretariat said
in a statement obtained by the news agency.

Carriers can now petition to operate as many routes and frequencies
as they want, subject to safety approval, according to the decree,
Buenos Aires Times notes.

                      About Argentina

Argentina is a country located mostly in the southern half of South
America. Its capital is Buenos Aires. Javier Milei is the current
president of Argentina after winning the November 19, 2023 general
election. He succeeded Alberto Angel Fernandez 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.

The IMF's executive board completed on August 23, 2023, the fifth
and six reviews of Argentina's 30-month Extended Fund Facility
(EFF), and approved a US$7.5-billion disbursement to Argentina as
part of the larger program, which refinances payments Argentina
owes the institution from a previous bailout that failed to
stabilize the economy in 2018. Argentina would receive another IMF
disbursement in November of about US$2.75 billion pending another
staff-level agreement and board approval.

S&P Global Ratings, on March 15, 2024, raised its local currency
sovereign credit ratings on Argentina to 'CCC/C' from 'SD/SD' and
its national scale rating to 'raB+' from 'SD'. S&P also raised its
long-term foreign currency sovereign credit rating to 'CCC' from
'CCC-' and affirmed its 'C' short-term foreign currency rating. The

outlook on the long-term ratings is stable. In addition, S&P
revised its transfer and convertibility assessment to 'CCC' from
'CCC-'.

S&P said the stable outlook on the long-term ratings balances the
risks posed by pronounced economic imbalances and policy
uncertainties with the favorable change in near-term debt service
obligations. S&P also expect no further debt exchanges that it
would likely consider to be distressed.

Fitch Ratings upgraded on June 13, 2023, Argentina's Long-Term
Foreign Currency (FC) Issuer Default Rating (IDR) to 'CC' from
'C'and affirmed the Long-Term Local Currency (LC) IDR at 'CCC-'.
Fitch typically does not assign Outlooks to sovereigns with a
rating of 'CCC+' or below.

The upgrade of the FC IDR reflects that Fitch no longer deems a
default-like process to have begun, as the authorities have not
signaled a clear intention to follow through with an intra-public
debt swap announced in March. The new 'CC' rating signals a default
event of some sort appears probable in the coming years, regardless
of the outcome of upcoming elections. The affirmation of the LC IDR
at 'CCC-' follows the peso debt swap in June that Fitch did not
deem to be a "distressed debt exchange" (DDE).

Moody's Investors Service, in September 2022, affirmed Argentina's
Ca foreign-currency and local-currency long-term issuer and senior
unsecured ratings.  The outlook remains stable.  The decision to
affirm the Ca ratings balances Argentina's limited market access,
weak governance, and history of recurrent debt restructurings with
recent efforts to marshal fiscal and monetary measures to start
addressing underlying macroeconomic imbalances in the context of
the IMF program that was approved in 2022, according to Moody's.

DBRS, Inc. confirmed Argentina's Long-Term Foreign Currency Issuer
Rating at CCC and downgraded its Long-Term Local Currency Issuer
Rating to CCC from CCC (high) on March 3, 2023.


TRANSPORTADORA DE GAS: S&P Rates New Unsecured Bullet Notes 'CCC'
-----------------------------------------------------------------
On July 15, 2024, S&P Global Ratings assigned its 'CCC' issue-level
rating to Argentina-based natural gas transportation company
Transportadora de Gas del Sur S.A.'s (TGS) proposed notes. At the
same time, S&P affirmed its 'CCC' foreign and local currency
ratings on TGS.

The stable outlook mirrors that of the sovereign, while it also
reflects the conservative leverage evidenced by a debt-to-EBITDA
ratio below 2.0x in the next two years amid solid cash flows
through diversified segments.

The company announced that it will issue senior unsecured bullet
notes for up to $500 million with a tenor between five to 10 years.
The company intends to use the proceeds to purchase the outstanding
amount of its existing 6.75%, $470 million senior unsecured notes
due May 2025. S&P said, "The company proactively seeks to extend
its overall debt duration, and we don't anticipate this to have any
impact on our existing ratings because the transaction should be
neutral in terms of leverage for the company. We expect leverage to
remain 1.5x-2.0x over the next 24 months considering the company's
strong operational performance and adequate liquidity."

S&P said, "The ratings on TGS continue to be capped at the level of
our transfer and convertibility (T&C) assessment of Argentina,
reflecting our perception of the risk of the sovereign interfering
with the ability of domestic companies to access, convert, and
transfer money abroad, which is essential for companies to service
their financial obligations, particularly U.S. dollars.

"We rate TGS's proposed senior unsecured notes at the same level as
the issuer credit rating because we don't believe the company has
material financial obligations that would rank ahead of its
unsecured debt by way of structural or contractual subordination in
a default scenario."

The company benefits from some diversification across its different
segments, and it has maintained stable and positive cash flows in
recent years despite the challenging macroeconomic environment in
Argentina.

As of March 31, 2024, TGS has reported a solid cash position of
nearly $557 million. and in addition to its cash flow generation,
it would be sufficient to cover almost all its outstanding debt,
which amounted to $580 million. S&P expects TGS to maintain
adequate liquidity in the next 12 months, even if the proposed
transaction is not concluded, especially considering its
flexibility to lower investments if needed.

A tariff update in April of an initial increase of 675% and
subsequent monthly adjustments will be finalized by the end of the
year, which will set the tariff mechanism for the upcoming years.

This comprises the transportation and conditioning of shale gas in
the geologic formation Vaca Muerta, which will be principally
fueled by expansion of capital expenditure (capex) of about $200
million in 2024 for two processing modules that are scheduled to
start operating next year.




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

AMERICANAS SA: Independent Committee Ends Probe
-----------------------------------------------
Danielle Chaves of Bloomberg News reports that Americanas SA says
an independent committee has concluded its investigation.

The Committee that investigates circumstances that caused the
events
reported on January 11, 2023, informed that the work was completed
on June 30, 2024, Americanas says in a filing.

Results of the investigation are being compiled and will be
presented to company's board in the coming weeks.

The Committee told the company that the analyzes carried out by it

did not serve as a basis for the work of the Federal Police that
resulted in Operation Disclosure.

It also said that the results of the Committee's work should not be

confused with the conclusions of public authorities, including the

Federal Police.

                 About Americanas SA

Americanas was one of the largest diversified retail chains in
Brazil, with a wide platform of physical stores, robust e-commerce,
fintech, and has just entered into the niche food retail. It is
listed on B3, being indirectly controlled by billionaire Jorge
Paulo Lemann, Carlos Alberto Sicupira and Marcel Telles.

The retailer nosedived in January 2023 after becoming mired in an
accounting scandal. The firm filed for bankruptcy at a court in Rio
de Janeiro on Jan. 19, 2023.

Americanas sought protection under Chapter 15 of the Bankruptcy
Code (Bankr. S.D.N.Y. Case No. 23-10092) on Jan. 25, 2023. White &
Case LLP, led by John K. Cunningham, is the U.S. counsel.




===============
H O N D U R A S
===============

DELTA APPAREL INC: Faces Going-Concern Problem
----------------------------------------------
Vicki M. Young of Yahoo! Finance reports that bankruptcy is
possible for Delta Apparel Inc.

Delta Apparel still has its going-concern problem, says the
report.

The activewear and lifestyle apparel firm said it is committed
to a plan that would suspend its manufacturing operations in
Honduras
due to ongoing liquidity challenged, according to a regulatory
filing with the Securities and Exchange Commission on Monday, June
17, 2024. It said the plan follows the "wind-down of the company's
manufacturing operations in Mexico earlier this year," as well as a
decision to no longer emphasize Delta Activewear's Global Brands
channel. Delta also said its still trying to find a buyer for its
El Salvador manufacturing operations, which services the Global
Brands channel.

Delta said the suspension of the Honduras operation will impact
2,413 employees for at least 120 days as it explores options for
its offshore manufacturing, which "may include a sale or a
permanent wind-down" of operations. Restructuring charges connected
to the suspension are expected to be incurred beginning in the
third quarter of Fiscal Year 2024.

"The company's deteriorating liquidity position and lack of funding
has continued to prevent it from purchasing raw materials necessary
to operate its offshore manufacturing facilities and to pay
compensation and benefits due to offshore employees," Delta said in
the filing.

Delta's liquidity issues were disclosed in its second-quarter
report filed in May 2024. The filing said Delta was notified in
January that "certain suppliers would no longer allow extended
credit in amounts or terms to the extent previously allowed," and
that it also was limited in its ability to obtain raw materials
from other suppliers. The company said it also is in default of its
U.S. revolving credit facility due to non-compliance with certain
financial covenants.

Lenders have not sought full payment of the debt, and the quarterly
report said Delta and its lenders continue to have talks about how
the firm can address regaining compliance over the "next 12
months." Delta did state that if it can't address those concerns,
"it may seek relief under applicable bankruptcy laws."

Following the COVID-pandemic, Delta Apparel CEO Robert W. Humphreys
in October 2021 had credited nearshore sourcing for the success of
its vertically integrated operation. But the liquidity crunch had
Humphreys resigning last month at the request of Delta's
independent directors. His departure is set for June 29, 2024.
Focus Management Group's Tim Pruban was named chief restructuring
officer, and he will be advising Delta on succession planning.

For the second quarter ended March 30, 2024 the net loss
significantly widened to $36.3 million, or $5.15 a diluted share,
versus a net loss of nearly $7 million, or $1, in the same year-ago
period. Net sales dropped 28.5 percent to $78.9 million from $110.3
million.

In Monday's regulatory filing, Delta confirmed that it remains
non-compliant on certain covenants, and that its deteriorating
liquidity position and inability to raise additional
capital continues to prevent it from purchasing the needed
production inputs. Moreover, Delta said it has seen "significant
reductions in demand" for some of its products during Fiscal Year
2023, which continued in the beginning of Fiscal Year 2024.

Delta is the parent firm of the Soffe, Delta and Salt Life brands.
While the company has posted losses for seven quarters, its Salt
Life brand has registered sales growth and profitability. Delta put
the brand up for sale last October, a few months after the apparel
line was expanded to include Salt Life Home. Salt Life is available
at more than 1,700 wholesale doors across 48 states and
direct-to-consumer on its branded website. It also operates 25
branded retail stores spanning the U.S. coastline from California
to Florida to New York. Delta paid $15 million for the beach
lifestyle brand, plus promissory notes totaling $22 million and an
additional payout if certain performance targets were met.

Also hurting the Duluth, Ga.-based firm was the termination by
Elkay Partners, NY LLC in connection with a purchase
agreement which included a long-term leaseback requirementâ€"to
buy Delta's 35-acre campus in Fayetteville, N.C. for $23.5 million,
according to a regulatory filing on June 11.

That filing also noted that Justin M. Grow, executive vice
president and chief administrative officer, and Matthew J. Miller,
president of Delta Group, have both resigned from the company.
Board directors Timothy E. Brog and David G. Whalen resigned last
month, another separate filing indicated.

               About Delta Apparel

Headquartered in Duluth, Georgia, Delta Apparel, Inc. is a
vertically integrated, international apparel company with
approximately 6,800 employees worldwide. The Company designs,
manufactures, sources, and markets a diverse portfolio of core
activewear and lifestyle apparel products under its primary brands
of Salt Life, Soffe, and Delta. The Company specializes in selling
casual and athletic products through a variety of distribution
channels and tiers, including outdoor and sporting goods
retailers, independent and specialty stores, better department
stores and mid-tier retailers, mass merchants, eRetailers, the U.S.
military, and through its business-to-business digital platform.

"Our current liquidity position raises substantial doubt as to our
ability to continue as a going concern over the next 12 months and
we believe we will need to raise capital or obtain other liquidity
in the near future in order to have sufficient resources to fund
our operations and meet the obligations specified in our Amended
Credit Agreement for the next 12 months. To date, we have been
unable to raise the necessary capital or otherwise obtain the
necessary liquidity to have sufficient resources to fund our
operations and meet the obligations specified in our Amended Credit
Agreement for the next 12 months. Moreover, there can be no
assurance that we will be successful in raising the necessary
capital or otherwise obtaining the necessary liquidity, that any
such capital or liquidity will be available to us on terms
acceptable to us, or at all, or that we will be successful in any
of our other endeavors to become financially viable and continue
as a going concern. Our inability to raise additional capital or
obtain other liquidity on acceptable terms in the near future would
have a material adverse effect on our business, prospects, results
of operations, liquidity and financial condition. Furthermore, any
decline in the market price of our common stock could make it more
difficult for us to sell equity or equity-related securities in the
future at a time and price that we deem appropriate," the Company
said in its Quarterly Report on Form 10-Q for the period ended
March 30, 2024.




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

JAMAICA: Needs Accelerated Help for Agriculture Sector
------------------------------------------------------
RJR News reports that opposition spokesman on Agriculture Dr.
Dayton Campbell says his assessment of losses from Hurricane Beryl
is an estimated $2 billion - $1 billion in crops lost and another
$1 billion in livestock and infrastructure.

Dr. Campbell, who toured yam farms in southern Trelawny, said the
support from the Agriculture Ministry needs to be accelerated as
the repercussions will affect the economy, according to RJR News.

"If agriculture is not dealt with urgently, we're going to have a
problem," he warned, citing reports from farmers and vendors that
the cost of carrots, cabbage and other crops will increase as early
as next week, and it will take up to six months for things to
return to normal, the report notes.

"Food plays a large role in the inflation basket, especially of low
income people. Most of what they do with the money that they have
is to buy food, and so once the price moves with that, then you're
going to have an increase in inflation, which is then going to
affect the entire population.  So we really want to see some
immediate intervention in the agricultural sector to try to get it
back to normal in as short a time as possible," Dr. Campbell urged,
the report relays.

The Ministry of Agriculture has said assessment teams have been
deployed to the hardest-hit areas to evaluate the damage and
identify urgent requirements, the report notes.

Additionally, it said a task force and an emergency disaster relief
fund have been established to assist those directly impacted by the
hurricane, the report adds.   

                       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.

In October 2023, Moody's upgraded the Government of Jamaica's
long-term issuer and senior unsecured ratings to B1 from B2, and
senior unsecured shelf rating to (P)B1 from (P)B2. The outlook has
been changed to positive from stable.  The upgrade of Jamaica's
rating to B1 reflects the government's sustained commitment to
fiscal consolidation and debt reduction.  The positive outlook
reflects Moody's assessment that a continuation of the favorable
fiscal trajectory will further increase Jamaica's credit
resilience.

S&P Global Ratings raised on September 13, 2023, its long-term
foreign and local currency sovereign credit ratings on Jamaica to
'BB-' from 'B+', and affirmed its short-term foreign and local
currency sovereign credit ratings at 'B'.  The stable outlook
reflects S&P's expectation that the government will remain
committed to prudent fiscal policies and reducing debt, as well as
supportive economic policies including a flexible exchange rate
regime and effective monetary policy.  

In March 2022, Fitch Ratings affirmed Jamaica's Long-Term Foreign
Currency Issuer Default Rating (IDR) at 'B+'. The Rating Outlook is
Stable.



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

DESAROLLOS GJOM: Taps Luis R. Carrasquillo as Financial Consultant
------------------------------------------------------------------
Desarollos Gjom Inc, seeks approval from the U.S. Bankruptcy Court
for the District of Puerto Rico to employ CPA Luis R. Carrasquillo
& Co., P.S.C. as financial consultant.

The firm will render these services:

     (a) provide advice in strategic planning and the preparation
of the Debtor's plan of reorganization and business plan;

     (b) participate in negotiations with the Debtor's creditors;
and

     (c) assist the Debtor's counsel in investigating its pre- and
post-petition financial transactions and disbursements and
undertake the corresponding actions.

The firm will be paid at these rates:

     Luis R. Carrasquillo        $200 per hour
     Marcelo Gutierrez           $160 per hour
     Ramon Villafane             $160 per hour
     Zoraida Delgado Diaz        $110 per hour
     Arnaldo Morales             $100 per hour
     Maria Vera                   $75 per hour
     David Sanchez Diaz           $85 per hour
     Jean Aponte                  $65 per hour
     Enid Olmeda                  $75 per hour
     Luis R. Guzman               $40 per hour
     Rosalie Hernandez Burgos     $40 per hour
     Kelsie M. Lopez, Esq.        $50 per hour

The firm received a retainer in the amount of $15,000.

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Luis R. Carrasquillo Ruiz, CPA, CIRA, CVA, a partner at CPA Luis R.
Carrasquillo & Co., P.S.C., disclosed in a court filing that the
firm is a "disinterested person" as the term is defined in Section
101(14) of the Bankruptcy Code.

The firm can be reached at:

     Luis R. Carrasquillo Ruiz, CPA, CIRA, CVA
     CPA Luis R. Carrasquillo & Co., P.S.C.
     28th Street, TI â€" 26
     Turabo Gardens, Caguas PR 00725
     Tel: (787) 746-4555
     Fax: (787) 746-4564
     Email: luis@cpacarrasquillo.com

              About Desarrollos Gjom Inc.

The Debtor is a merchant wholesaler of motor vehicle and motor
vehicle parts and supplies.

Desarrollos Gjom, Inc. in Mayaguez, PR, filed its voluntary
petition for Chapter 11 protection (Bankr. D.P.R. Case No.
24-02687) on June 27, 2024, listing $1,680,587 in assets and
$708,897 in liabilities. Gustavo E. Guilbe Ortiz, president, signed
the petition.

Charles A Cuprill Law Offices PSC serve as the Debtor's legal
counsel.

DESARROLLOS GJOM: Sec. 341(a) Meeting of Creditors on July 29
-------------------------------------------------------------
Desarrollos Gjom Inc. filed Chapter 11 protection in the District
of Puerto Rico.  The Debtor reported $708,897 in total debt owed
to 1 and 49 creditors.  The petition states that funds will be
available to unsecured creditors.

A meeting of creditors under 11 U.S.C. Section 341(a) is slated
for
July 29, 2024 at 10:00 AM via Telephonic Conference.

                    About Desarrollos Gjom Inc.

Desarrollos Gjom Inc. is a merchant wholesaler of motor vehicle
and motor vehicle parts and supplies.

Desarrollos Gjom sought relief under Chapter 11 of the Bankruptcy
Code (Bankr. D.P.R. Case No. 24-02687) on June 27, 2024.  In the
petition signed by Gustavo E. Guilbe Ortiz, as president, the
Debtor reports total assets of $1,680,587 against total liabilities
of $708,897.

The Debtor tapped CHARLES A CUPRILL LAW OFFICES PSC as counsel.



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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

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