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260127.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 Tuesday, January 27, 2026, Vol. 27, No. 19 Headlines A R G E N T I N A ARGENTINA: IMF Projects Economy Will Grow 4% in 2026 and 2027 ARGENTINA: Posts Biggest Energy Surplus in Decades on Shale Push B R A Z I L BANCO BTG PACTUAL: Moody's Rates New Sr. Unsecured Notes Ba1 BANCO MASTER: Central Bank Liquidates Will Financeira Unit BANCO MASTER: Supreme Court OKs Freezing of Investor Tanure's Asset BRAZIL: Revenue Windfall Gives Brasília Fiscal Breathing Room PROEMA AUTOMOTIVA: Asks Court for Chapter 15 Discovery SABESP: S&P Rates Up to $1.8-Bil. Loan Participation Notes 'BB' C O L O M B I A COLOMBIA: Blocked Tax Bill Pushes Toward Emergency Rule & New Debt P U E R T O R I C O PETCO HEALTH: Moody's Rates New Sr. Secured First Lien Notes 'B3' - - - - - ================= A R G E N T I N A ================= ARGENTINA: IMF Projects Economy Will Grow 4% in 2026 and 2027 ------------------------------------------------------------- AFP News reports that the International Monetary Fund (IMF) has reaffirmed its favorable outlook for Argentina's economy, projecting growth of four percent in both 2026 and 2027. The multilateral lender has already praised the country's performance in 2025 and the economic course taken by President Milei's administration, according to AFP News. According to the latest update of the IMF's World Economic Outlook report, Argentina's economy will outpace global growth, which is estimated at 3.3 percent for 2026 and 3.2 percent for 2027, the report relays. Last year, the economy grew 4.5 percent, according to the Fund, following a 1.3 percent contraction in 2024, Milei's first year in office, the report recalls. Argentina is also expected to outperform Latin America and the Caribbean as a whole, where growth is forecast at 2.2 percent in 2026 and 2.7 percent in 2027, the report notes. Among the regional heavyweights, Brazil is projected to slow to 1.6 percent growth in 2026, with a rebound to 2.3 percent in 2027, while Mexico is expected to post more moderate rates of 1.5 percent and 2.1 percent respectively, the report says. The IMF analysis warned, however, that Argentina's projected growth is not without risks, the report discloses. An increase in international interest rates, increased financial volatility or a deterioration in global trade could negatively affect the economy, 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. In March 2022, the International Monetary Fund (IMF) approved a 30-month arrangement under an Extended Fund Facility for Argentina in the amount of SDR 31.914 billion (equivalent to US$44 billion, or 1000 percent of quota) -- with an approved immediate disbursement of an equivalent of US$9.65 billion. Argentina's IMF-supported program sought to improve public finances and start to reduce persistent high inflation through a multi-pronged strategy. On April 11, 2025, the IMF further approved a 48-month Extended Fund Facility (EFF) arrangement for Argentina totaling US$20 billion (or 479 percent of quota), with an immediate disbursement of US$12 billion, and a first review planned for June 2025 with an associated disbursement of about US$2 billion. The program is expected to help catalyze additional official multilateral and bilateral support, and a timely re-access to international capital markets. Moody's Ratings on July 17, 2025, upgraded Argentina's long-term foreign currency and local currency issuer ratings to Caa1 from Caa3 and changed the outlook to stable from positive. The upgrade reflects Moody's views that the extensive liberalization of exchange and (to a lesser extent) capital controls, alongside a new International Monetary Fund (IMF) program, support the availability of hard currency liquidity and ease pressure on external finances. This reduces the likelihood of a credit event. In January 2025, Moody's raised Argentina's local currency ceiling to B3 from Caa1 and the foreign currency ceiling to Caa1 from Caa3. Fitch Ratings, on May 12, 2025, upgraded Argentina's Long-Term Foreign-Currency and Local-Currency Issuer Default Rating (IDR) to 'CCC+' from 'CCC'. S&P Global Ratings, in February 2025 lowered its local currency sovereign credit ratings on Argentina to 'SD/SD' from 'CCC/C' and its national scale rating to 'SD' from 'raB+'. DBRS, Inc. upgraded Argentina's Long-Term Foreign and Local Currency Issuer Ratings to B (low) from CCC in November 2024. ARGENTINA: Posts Biggest Energy Surplus in Decades on Shale Push ---------------------------------------------------------------- Jonathan Gilbert at Bloomberg News reports that Argentina posted its biggest annual energy trade surplus in at least 33 years amid booming oil and gas production in the Vaca Muerta shale patch. In 2025, exports outstripped imports to the tune of US$7.8 billion, according to the country's Energy Department, which said it was a record year for both the surplus and exports, according to Bloomberg News. Official data going to 1992 is tracked by Buenos Aires consultancy firm Empiria, Bloomberg News notes. Shale dollars are key to President Javier Milei's efforts to turn around Argentina's crisis-prone economy, Bloomberg News relays. His deregulation is luring investments, including in the past few weeks from US shale billionaire Harold Hamm, 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. In March 2022, the International Monetary Fund (IMF) approved a 30-month arrangement under an Extended Fund Facility for Argentina in the amount of SDR 31.914 billion (equivalent to US$44 billion, or 1000 percent of quota) -- with an approved immediate disbursement of an equivalent of US$9.65 billion. Argentina's IMF-supported program sought to improve public finances and start to reduce persistent high inflation through a multi-pronged strategy. On April 11, 2025, the IMF further approved a 48-month Extended Fund Facility (EFF) arrangement for Argentina totaling US$20 billion (or 479 percent of quota), with an immediate disbursement of US$12 billion, and a first review planned for June 2025 with an associated disbursement of about US$2 billion. The program is expected to help catalyze additional official multilateral and bilateral support, and a timely re-access to international capital markets. Moody's Ratings on July 17, 2025, upgraded Argentina's long-term foreign currency and local currency issuer ratings to Caa1 from Caa3 and changed the outlook to stable from positive. The upgrade reflects Moody's views that the extensive liberalization of exchange and (to a lesser extent) capital controls, alongside a new International Monetary Fund (IMF) program, support the availability of hard currency liquidity and ease pressure on external finances. This reduces the likelihood of a credit event. In January 2025, Moody's raised Argentina's local currency ceiling to B3 from Caa1 and the foreign currency ceiling to Caa1 from Caa3. Fitch Ratings, on May 12, 2025, upgraded Argentina's Long-Term Foreign-Currency and Local-Currency Issuer Default Rating (IDR) to 'CCC+' from 'CCC'. S&P Global Ratings, in February 2025 lowered its local currency sovereign credit ratings on Argentina to 'SD/SD' from 'CCC/C' and its national scale rating to 'SD' from 'raB+'. DBRS, Inc. upgraded Argentina's Long-Term Foreign and Local Currency Issuer Ratings to B (low) from CCC in November 2024. =========== B R A Z I L =========== BANCO BTG PACTUAL: Moody's Rates New Sr. Unsecured Notes Ba1 ------------------------------------------------------------ Moody's Ratings has assigned a Ba1 long-term foreign currency senior unsecured debt rating to the proposed senior unsecured notes to be issued by Banco BTG Pactual S.A. (BTG), acting through its Cayman Branch (BTG Cayman). The proposed notes will be issued under the existing $5 billion Medium Term Note Program rated (P)Ba1 and will be due in January 2031. The outlook on the debt rating is stable. RATINGS RATIONALE The Ba1 rating on the notes reflects BTG's strong market position in investment banking and its robust profitability supported by a diverse revenue mix, with significant contributions from well-established asset and wealth management activities and growing corporate banking business. The bank's strategy has been long supported solid capitalization and diligent risk management. During the nine months ended September 2025, BTG's net income to tangible assets ratio was 2.3%, driven by steady growth in wealth and asset management (24% of revenues) and credit and banking businesses (26%). While sales and trading activities continued to represent a significant earnings driver (22% up to September 2025), which could add volatility to performance, the bank's corporate loan portfolio went up by 17.4% year-over-year as of September 2025, which helps to mitigate this risk. The growing lending activities have been supported by collateralization structures and the maintenance of a substantial loan loss reserve buffer, which stood at 101.5% of problem loans in September 2025. The bank's problem loan ratio (stage 3) remained at 5.8%, consistent with industry peers. Capitalization and liquidity profile is a key strength in BTG's credit risk fundamentals. In Q3 2025, Moody's ratio of tangible common equity to risk-weighted assets (TCE/RWA) for the bank stood at 10.9% supported by its strong capital replenishment capacity, with LCR of 168.5% BTG's long-term local and foreign currency deposit and BTG Cayman's foreign currency senior unsecured debt ratings of Ba1 are at the same level as the Government of Brazil's (Brazil) Ba1 sovereign rating. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATING BTG's senior unsecured MTN program ratings and BTG Cayman's senior unsecured debt ratings are unlikely to face upward pressure because they are currently at the same level as Brazil's Ba1 sovereign rating. The Ba1 rating assigned to the proposed notes could, however, be downgraded following a downgrade of BTG's BCA, which could be related to the downgrade of the Government of Brazil's sovereign rating, or in case of pressures developed at this standalone credit profile as a result of: (1) rapid loan growth that could lead to a greater than expected increase in asset risks, and (2) if the bank's capitalization ratio drops sharply. Downward rating pressure could also be triggered by weakening liquidity, which could increase the bank's intrinsic vulnerability to its institutional-based funding structure. The principal methodology used in this rating was Banks published in November 2025. BANCO MASTER: Central Bank Liquidates Will Financeira Unit ---------------------------------------------------------- globalinsolvency.com, citing Reuters, reports that Brazil's central bank ordered the liquidation of Will Financeira SA, a unit of troubled lender Banco Master, in the latest drastic step involving ‌illiquid institutions tied to the conglomerate. The move comes a day after Mastercard said that it ‌had suspended Will Bank cards from its network due to non-compliance with settlement schedules under its payments arrangement, according to globalinsolvency.com. About Banco Master Banco Master, S.A., formerly known as Banco Maxima, is a financial institution that provides corporate credit, foreign exchange, and treasury services, and later expanded into real estate credit as well as fund and wealth management activities. The bank began operations in 1974 and broadened its business lines in the mid-1990s as part of its growth strategy within the financial service sector. Banco Master filed a Chapter 15 Petition with the U.S. Bankruptcy Court for the Southern District of Florida on December 10, 2025 (Case No. 25-24568), with the Hon. Scott M Grossman presiding. BANCO MASTER: Supreme Court OKs Freezing of Investor Tanure's Asset ------------------------------------------------------------------- globalinsolvency.com, citing Reuters, reports that Brazil's Supreme Court Justice Dias Toffoli has allowed a prosecutor's request for banks to freeze assets belonging to Brazilian entrepreneur Nelson Tanure due to an investigation into lender Banco Master, according to a document made public. The request was made by the country's Prosecutor General's Office, according to globalinsolvency.com. The mid-sized bank was liquidated by the central bank last November, the report notes. About Banco Master Banco Master, S.A., formerly known as Banco Maxima, is a financial institution that provides corporate credit, foreign exchange, and treasury services, and later expanded into real estate credit as well as fund and wealth management activities. The bank began operations in 1974 and broadened its business lines in the mid-1990s as part of its growth strategy within the financial service sector. Banco Master filed a Chapter 15 Petition with the U.S. Bankruptcy Court for the Southern District of Florida on December 10, 2025 (Case No. 25-24568), with the Hon. Scott M Grossman presiding. BRAZIL: Revenue Windfall Gives Brasília Fiscal Breathing Room -------------------------------------------------------------- Richard Mann at Rio Times Online reports that Brazil's tax collectors closed 2025 with a surge that gives Brasília a rare moment of fiscal breathing room. Federal revenue in December reached R$292.72 billion (US$54 billion). That was up from R$226.75 billion ($42 billion) in November, according to widely reported official figures, according to Rio Times Online. The year ended with total federal revenue of about R$2.89 trillion ($535 billion), described as a record, the report notes. The December jump matters because it arrived when markets and voters are watching every signal on deficits and debt, the report relays. Several reports said the result also rose in real terms versus December 2024, the report recalls. That suggests the gain was not only inflation, the report says. It helps the government argue the economy is still delivering taxable activity, the report notes. Revenue strength also reflects policy choices, the report relays. Portuguese coverage pointed to the services sector as a key contributor, the report discloses. It also highlighted new or expanded levies that widened collection. That includes taxes tied to sports betting, the report says. For a finance ministry trying to hit targets, that mix is convenient, the report notes. Receipts can rise from activity, stricter enforcement, or higher tax pressure, the report relays. Still, revenue headlines can flatter the balance sheet without changing the underlying math, the report discloses. A strong December helps cash management and near-term fiscal messaging, the report notes. It can reduce the need for last-minute maneuvers, the report relays. But it does not automatically curb mandatory outlays, the report notes. Nor does it guarantee a durable primary surplus, the report discloses. The political fight is now about what happens next, the report says. One camp argues the state must stop treating extra revenue as permission to expand programs, the report relays. It pushes for spending control, simpler rules, and predictable taxation, the report notes. The other side treats higher revenue as proof the government can do more, the report says. That often means heavier burdens on businesses, the report discloses. For investors and households, the signal is mixed but clear, the report relays. Brazil is collecting more. The harder question is how the state will use that strength, the report notes. It can stabilize expectations, or keep lifting the tax bar again, the report adds. About Brazil Brazil is the fifth largest country in the world and third largest in the Americas. Luiz Inacio Lula da Silva won the 2022 Brazilian general election. He was sworn in on January 1, 2023, as the 39th president of Brazil, succeeding Jair Bolsonaro. In October 2024, Moody's Ratings upgraded the Government of Brazil's long-term issuer and senior unsecured bond ratings to Ba1 from Ba2, the senior unsecured shelf rating to (P)Ba1 from (P)Ba2; and maintained the positive outlook. S&P Global Ratings raised on Dec. 19, 2023, its long-term global scale ratings on Brazil to 'BB' from 'BB-'. Fitch Ratings affirmed on Dec. 15, 2023, Brazil's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BB' with a Stable Outlook. DBRS' credit rating for Brazil was last reported at BB with stable outlook at July 2023. PROEMA AUTOMOTIVA: Asks Court for Chapter 15 Discovery ------------------------------------------------------ Emily Lever of Law360 Bankruptcy Authority reports that the foreign representative overseeing defunct Brazilian auto parts manufacturer Proema Automotiva SA has asked a New York bankruptcy court for authorization to obtain discovery from 19 individuals and entities as part of a Chapter 15 proceeding aimed at identifying and recovering potential assets. In the filing, the foreign representative said the requested discovery is necessary to trace assets and investigate transactions that may benefit Proema's Brazilian insolvency estate, arguing that the targeted parties may possess information concerning the company's finances, transfers, or property located in the United States. About Proema Automotiva SA Proema Automotiva SA is a Brazilian automotive components manufacturer based in Sao Bernardo do Campo, Sao Paulo, producing systems such as steering columns, gearshift mechanisms, pedal assemblies, and machined parts for engines and suspensions. Proema Automotiva SA sought relief under Chapter 15 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No.25-12957) on December 31, 2025. The Debtor's foreign representative is Fernando Celso De Aquino Chad. Foreign Representative's Counsel is Merielen Dal Ri Ziviani, Esq. of KELLNER HERLIHY GETTY & FRIEDMAN, LLP. SABESP: S&P Rates Up to $1.8-Bil. Loan Participation Notes 'BB' --------------------------------------------------------------- S&P Global Ratings assigned its 'BB' issue rating to the loan participation notes (LPNs) proposed by NOVA Securitisation S.a.r.l. (not rated) of up to $1.8 billion, divided into two series -- one due in 2031 and one in 2036. NOVA Securitisation will use the proceeds to purchase a 100% participation interest in a term loan B provided by Inter-American Investment Corp. (IDB Invest; AA+/Positive/A-1+) to Companhia de Saneamento Básico do Estado de São Paulo (Sabesp; BB/Stable/--). Sabesp will use the proceeds of the LPNs, along with up to $200 million from a direct term loan A provided by IDB Invest, to finance part of its more than Brazilian real (R$) 60 billion of capital expenditure throughout 2029. NOVA Securitisation, a Luxembourg-based special purpose vehicle (SPV), will issue the LPNs. Sabesp does not own NOVA Securitisation, and the SPV has no operating activities. Its sole material asset will be the participation. The LPNs are limited-recourse obligations secured by the SPV's participation. Nevertheless, the LPNs won't benefit from a real assets guarantee. In addition, both the term loan A and the term loan B will rank equally with all of Sabesp's other unsecured debt obligations. As a result, if Sabesp defaults on the term loan B, this would be equivalent to a default of Sabesp's obligations. S&P ratea the LPN at the same level as Sabesp's unsecured debt, reflecting its view that LPNs issued by an SPV can be rated at the same level as equivalent-ranking debt of the underlying borrower (the sponsor), and that the contractual obligations of the SPV can be treated as financial obligations of the sponsor. Following its review, the LPN's documentation and the loan agreement signed between Sabesp and IDB Invest meet all the conditions below: -- All the SPV's debt obligations are backed by equivalent-ranking obligations with equivalent payment terms issued by the sponsor.  -- The SPV is a strategic financing entity for the sponsor, set up solely to raise debt on behalf of the sponsor's group; and  -- S&P believes the sponsor is willing and able to support the SPV to ensure full and timely payment of interest and principal when due on the debt issued by the SPV, including payment of any of the SPV's ongoing and extraordinary expenses.  The transaction includes IDB Invest as a financial counterparty, given its role as lender of record of the term loan B. While IDB Invest does not provide credit support to the LPNs, the structure relies on its operational performance and timely remittance of borrower payments to the SPV. S&P said, "As a result, we consider our Counterparty Risk Methodology when assessing this issuance. While the rating on IDB Invest doesn't currently constrain the rating on the LPNs, we view it as a potential cap." Sabesp is Latin America's largest water and sewage utility by net revenue, with adjusted revenue of R$21.9 billion and EBITDA of R$11.8 billion in the 12 months through Sept. 30, 2025. S&P said, "We expect Sabesp will maintain net debt to EBITDA of 2.5x-3.5x (from 2.2x in the third quarter of 2025) in the next couple years. We also anticipate that funds from operations to debt will decline to around 15% in the next two years (from 24.1% in September 2025) due to higher leverage to finance investments and still high interest rates in Brazil pressuring the company's cash generation (through high interest expenses)." =============== C O L O M B I A =============== COLOMBIA: Blocked Tax Bill Pushes Toward Emergency Rule & New Debt ------------------------------------------------------------------ Florencia Belen Ruiz at Rio Times Online reports that President Gustavo Petro chose speed. On December 22, 2025, he declared an economic emergency, allowing temporary decrees with the force of law, according to Rio Times Online. Finance Minister German Avila says two emergency packages would secure roughly COP 12 trillion, leaving about COP 4 trillion still uncovered, the report notes. The government is preparing an extension and argues that a court reversal would lift the country's risk premium and raise borrowing costs, the report relays. Debt management is the other leg of the plan, the report says. A late-2025 switch of local TES bonds was framed as a rollover to smooth near-term maturities and protect liquidity, the report notes. Then Colombia tapped global markets. On January 13, 2026, it sold $4.95 billion in three dollar bonds maturing in 2029, 2031, and 2033, with coupons of 5.375%, 6.125%, and 6.5%. Demand reportedly exceeded $23 billion, the report discloses. Colombia's Emergency Tests Investor Confidence The uncomfortable question is timing. Oversight bodies and analysts point to a repayment bulge around 2029, with some estimates near COP 89.6 trillion due that year, the report discloses. The administration counters that refinancing is routine and says the debt-to-GDP ratio has eased toward 57%, the report notes. The bigger risk is durability, the report relays. If emergency measures are struck down or reversed, markets can reprice quickly, the report says. The emergency framework also reaches into pensions, the report discloses. A draft plan would gradually cap pension funds' foreign exposure at 30%, potentially repatriating around COP 125 trillion over several years, the report says. Supporters say it keeps national savings funding national infrastructure. Critics worry it nudges worker money into government paper by default, the report notes. What looks like a technical budget fix is also a referendum on institutional checks and investor trust, the report discloses. As reported in the Troubled Company Reporter in August 2024, Fitch Ratings has affirmed Colombia's Long-Term Foreign Currency Issuer Default Rating (IDR) at 'BB+' with a Stable Rating Outlook. ===================== P U E R T O R I C O ===================== PETCO HEALTH: Moody's Rates New Sr. Secured First Lien Notes 'B3' ----------------------------------------------------------------- Moody's Ratings assigned a B3 rating to Petco Health and Wellness Company, Inc.'s ("Petco") proposed new senior secured first lien notes. All other ratings remains unchanged including the company's B3 Corporate Family Rating, B3-PD probability of default rating and B3 senior secured first lien bank credit facilities ratings. Petco's speculative grade liquidity rating (SGL) remains at SGL-1. The outlook is stable. Proceeds from this proposed notes transaction along with the recently launched $850 million senior secured first lien term loan B and balance sheet cash will be used to repay the approximately $1,545 million outstanding on the company's existing senior secured first lien bank credit facility due 2028 and pay fees and expenses. Moody's expect to withdraw ratings on Petco's existing senior secured first lien bank credit facility due 2028 upon its full repayment. RATINGS RATIONALE Petco's B3 CFR reflects its weakened credit metrics caused by an abatement of the pandemic related pet adoption boom and a further slowing of demand. Consumers have been cutting back on discretionary pet supplies purchases and shifting to value assortments for the more essential consumables in response to a strained wallet. These trends were exacerbated by Petco's operational missteps on product assortment, customer experience and promotions. The CFR also reflects governance considerations, particularly Petco's majority private equity ownership which can result in financial strategies that favor shareholders over creditors. Its profile is supported by Petco's large scale and its position as the third largest pet focused retailer in the United States in a relatively fragmented industry. Moody's projects performance improvement over the next 12-18 months as management executes on its turnaround plans with debt/EBITDA to moderate to below 4.0x and EBITA/Interest in excess of 1.0x. Moody's also expects the company to have very good liquidity through positive free cash flow, ample cash balances and full availability on its ABL. The stable outlook reflects Moody's expectations of improving credit metrics, ample positive free cash flow and very good liquidity over the next 12-18 months. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATING Petco's rating could be upgraded if the company's operating performance improves, while maintaining very good liquidity supported by positive free cash flow, and continued commitment to conservative financial policies. Quantitatively, rating could be upgraded if the company maintains lease-adjusted debt/EBITDA below 5.75x and EBITA/interest expense over 1.5x. Petco's rating could be downgraded if operating trends and credit metrics do not recover as expected, financial policies become more aggressive, or if liquidity erodes. Specifically, rating could be downgraded if operating margins deteriorate, free cash flow becomes negative or if EBITA/interest expense is sustained below 1.0x. Petco Health and Wellness Company, Inc. is a national specialty retailer of premium and value pet consumables, supplies and companion animals and services with over 1,500 retail locations across the US, Mexico and Puerto Rico. Revenue was about $6.0 billion for the LTM period ending November 01, 2025. The company remains majority owned by CVC Capital Partners and Canada Pension Plan Investment Board following its January 2021 IPO. ********* 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 2026. All rights reserved. ISSN 1529-2746. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. 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