TCR_Public/061227.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Wednesday, December 27, 2006, Vol. 10, No. 307

                             Headlines

ALADDIN CDO: Moody's Cuts Rating on $8MM Class B-2 Notes to Ba2
APPTIS INC: Moody's Rates $155 Million Credit Facility at Ba3
ASARCO LLC: Wants Settlement Pact with TMD Acquisition Approved
ASARCO LLC: Encycle Trustee Taps Avalos as Real Estate Agent
BANC OF AMERICA: Moody's Holds Low-B Ratings on Six Cert. Classes

BOSTON GENERATING: Moody’s Withdraws B2 Rating on $500 Mil. Loans
BSDB 2005-AFR1: Moody's Cuts Ratings on Two Certificate Classes
CATHAY GENERAL: Solid Asset Quality Cues Fitch to Lift Ratings
CATHOLIC CHURCH: Portland Inks Pact Over Future Claims Estimation
CATHOLIC CHURCH: Portland Claimants Seek Writ of Mandamus Issuance

CENTRAL PARKING: Earns $27.9 Million in Fiscal Year 2006
CHARLOTTE GOLDSTON: Case Summary & 12 Largest Unsecured Creditors
CLARK ATLANTA: Moody's Lifts Rating on $22.4 Mil. Bonds to Ba1
CLARKE AMERICAN: Moody's Puts Ratings on Review and May Downgrade
CLAYMONT STEEL: Parent IPO Prompts Moody's to Review Ratings

COBALT CMBS: Fitch Assigns Low-B Ratings to Eight Cert. Classes
COMM 2006-C8: Fitch Rates $9.4 Million Class Certificates at B+
COMVERSE TECH: Faces Delisting Due to Form 10-Q Filing Delay
CONCORD REAL: Fitch Rates $18.6 Million Class H Term Notes at BB
COUNTRYSIDE POWER: Confirms Cash Distribution at $0.0863 Per Unit

CREST 2000: Moody's Pares Rating on $21 Mil. Class D Notes to B2
CREST 2001-1: Fitch Upgrades Rating on $30 Million Class C Notes
CYPRESS TREE: Tendered Notes Prompt Moody's Ratings Withdrawal
DAIMLERCHRYSLER AG: Union May Grant Health Care Concessions
DELPHI CORPORATION: Appaloosa Discloses 15.12% Equity Stake

DELPHI CORPORATION: Highland Capital Discloses 6% Equity Stake
DELTA AIR: Unofficial Panel Expects Maximized Creditor Recoveries
DENNY’S CORP: Units Ink New $350 Million Senior Loan Agreement
DUKE FUNDING: Moody's Puts Ratings on Watch for Possible Upgrade
DURA AUTOMOTIVE: Court OKs Hiring of Ordinary Course Professionals

DURA AUTOMOTIVE: Gets Court Nod on Interim Compensation Procedures
EAGLE BROADBAND: LBB & Associates Raises Going Concern Doubt
EATON VANCE: Moody's Pares Rating on $286 Mil. Class A Notes to B2
EDULINK INC: October 31 Balance Sheet Upside-Down by $2.8 Million
EMERALD INVESTMENT: Moody's Upgrades Rating on $30 Million Notes

EL PASO: Sells ANR Pipeline & 50% Great Lakes Stake to TransCanada
EPICEPT CORP: Cornell Capital Commits Up to $15 Mil. for Capital
EPIXTAR CORP: Exclusive Plan Filing Period Extended to January 29
FEDERAL-MOGUL: Court Sustains Objection on Hill School's Claim
FIRSTLINE CORP: Judge Walker Expands Scope of Henderson’s Work

FORD MOTOR: In Talks with Toyota Execs Over Partnership Deals
FRONTIER OIL: Fitch Withdraws Senior Unsecured Notes' BB- Rating
GABRIEL TECH: Posts $2.5 Mil. Net Loss in Quarter Ended Sept. 30
GLOBAL POWER: Committee Hires Chanin Capital as Financial Advisors
GLOBAL POWER: U.S. Trustee Appoints Three-Member Equity Committee

GRANITE BROADCASTING: Meeting of Creditors Slated for January 16
GREENSTONE RESOURCES: Court Grants Two Orders Under CCAA and CBCA
GRUPO MEXICO: Fitch Lifts Issuer Default Rating to BB+ from BB
GSC PARTNERS: Moody's Puts Ratings on Watch and May Upgrade
HALCYON SECURITIZED: Moody's Rates Class E Senior Notes at Ba1

HERBALIFE LTD: Earns $26 Million in Quarter Ended September 30
HOUSING AUTHORITY: Moody's Withdraws Revenue Bonds’ B2 Rating
IMMUNE RESPONSE: Completes One-for-100 Reverse Stock Split
J & M BEAR: Case Summary & 7 Largest Unsecured Creditors
J.P. MORGAN: Fitch Places Low-B Ratings on Six Certificate Classes

JOSEPH KEYS: Case Summary & 20 Largest Unsecured Creditors
KEFTON CDO: Moody's Rates $8 Million Class VII Notes at Ba1
LB COMMERCIAL: Moody's Holds Junk Rating on Two Class Certificates
LINCOLN DEVELOPMENT: Voluntary Chapter 11 Case Summary
M/I HOMES: Moody's Holds Corporate Family Rating at Ba2

MADISON RIVER: CenturyTel Deal Cues S&P's Positive CreditWatch
MASTERCRAFT INTERIORS: Examiner Hires Tydings as Counsel
MASTERCRAFT INTERIORS: Examiner Hires Ellin as Accountants
MICHAEL CASSIDY: Case Summary & 3 Largest Unsecured Creditors
MILACRON INC: Inks Five-Year $105 Million Loan With GE-Corporate

MSC 2006-SRR2: Fitch Rates $1.3 Million Class Q Notes at B-
N-STAR REAL: Fitch Affirms BB Rating on $12.75 Mil. Class F Notes
NEW JERUSALEM: Case Summary & 20 Largest Unsecured Creditors
NEW WORLD BRANDS: Posts $619,376 Net Loss in Period Ended Sept. 30
NEW YORK WESTCHESTER: Case Summary & 20 Largest Unsec. Creditors

NOMURA ASSET: Fitch Holds B- Rating on $27.9 Million Class Certs.
NORTEL NETWORKS: $2.45 Bil. Settlement Pact with Shareholders OK’d
NORTEL NETWORKS: Inks $2-Billion Supply Deal with Verizon Wireless
NUTECH DIGITAL: Inks Exclusive Distribution Deal with VCX Ltd.
OPEN SOLUTIONS: Moody's Junks Rating on $325 Million Senior Notes

PATRIOT TAX: Reacts to Ira Gaines & Barry Zemels' Tender Offer
PHARMANET DEVELOPMENT: Moody's Changes Ratings Outlook to Stable
PHOENIX COMPANIES: Moody's Holds Rating on Preferred Stock at Ba2
PINE MOUNTAIN: Moody's Rates $6.25 Million Class E Notes at Ba1
PITTSBURGH CORNING: Ct. Denies Confirmation of Reorganization Plan

PLAINS ENDS: Fitch Rates $20.3 Million Secured Notes at BB
PREMIUM PAPERS: Plainfield Closes Asset Acquisition
REFCO INC: Chapter 11 Plan Effective; Orderly Wind-Up Begins
ROBERT JOHNSON: Case Summary & 12 Largest Unsecured Creditors
ROGERS COMMS: DBRS Upgrades Issuer Rating to BB Positive

ROPER INDUSTRIES: Moody's Holds Corporate Family Rating at Ba2
SAINT VINCENTS: Wants Plan-Filing Period Stretched to January 31
SAINT VINCENTS: Wants CMC-OHS's Bankruptcy Case Dismissed
SALOMON BROTHERS: Fitch Pares Rating on Class L Certs. to BB-
SALOMON HOME: S&P Cuts Ratings and Places Negative CreditWatch

SMITHFIELD FOODS: Moody's Pares Corporate Family Rating to Ba2
SONIC CORPORATION: Completes $600 Million Securitized Financing
SONTRA MEDICAL: Posts $1.3 Million Net Loss in 2006 Third Quarter
SPARTA COMMERCIAL: Posts $1.6 Mil. Net Loss in Qtr. Ended Oct. 31
SYNAGRO TECH: Withdraws NYSE but Retains NASDAQ Listing

TECO ENERGY: Completes Redemption of 8.5% Trust Pref. Securities
TELOS CLO: Moody's Rates $43.3 Million Subordinated Notes at B1
TEMPUR-PEDIC: Planned Notes Redemption Cues S&P's Positive Watch
TERWIN MORTGAGE: Moody's Upgrades Ratings on 53 Tranches
TITAN INT'L: S&P Rates Proposed $200 Million Senior Notes at B

TOTAL LUXURY: Posts $1.9 Mil. Net Loss in Quarter Ended Sept. 30
TOWER AUTOMOTIVE: Wants Scope of Foley & Lardner’s Work Expanded
U.S. ENERGY: Gets $2.7 Million from Countryside Deal Termination
UPSNAP INC: Bedinger & Company Raises Going Concern Doubt
VAIL RESORTS: Moody’s Holds B1 Rating on $390 Million Senior Notes

VALASSIS COMMS: Amended ADVO Merger Pact Cues S&P to Hold Watch
WALTER INDUSTRIES: Moody's Withdraws Rating on $175 Million Notes
WEBSTER CDO: Moody's Rates $9 Million Class B-3L Notes at Ba1
WERNER LADDER: Ct. Expands Panel Consultant's Scope of Employment
WERNER LADDER: Committee Hires Saul Ewing as Conflicts Counsel

WESTPOINT STEVENS: Ct. Adjourns Case Dismissal Hearing to Feb. 21
WILLIAM HUNG: Chapter 15 Petition Summary
WMG ACQUISITION: Moody’s Holds Ba3 Ratings with Positive Outlook
WOODWIND & BRASSWIND: Hires Barnes & Thornburg as Special Counsel
WOODWIND & BRASSWIND: U.S. Trustee Amends Committee Membership

* Upcoming Meetings, Conferences and Seminars

                             *********

ALADDIN CDO: Moody's Cuts Rating on $8MM Class B-2 Notes to Ba2
---------------------------------------------------------------
Moody's Investors Service downgraded the ratings on these notes issued in
2002 by Aladdin CDO I Ltd., a collateralized debt obligation issuer:

   * The $40,500,000 Class A-2 Floating Rate Senior Subordinated
     Notes due 2014

      -- Prior Rating: Aa2, on watch for possible downgrade
      -- Current Rating: A2

   * The $14,500,000 Class A-3 Fixed Rate Senior Subordinated
     Notes due 2014

      -- Prior Rating: A2, on watch for possible downgrade
      -- Current Rating: Baa3

   * The $8,375,000 Class B-1 Floating Rate Senior Subordinated
     Notes due 2014

      -- Prior Rating: Baa2, on watch for possible downgrade
      -- Current Rating: Ba2

   * The $8,000,000 Class B-2 Fixed Rate Senior Subordinated
     Notes due 2014

      -- Prior Rating: Baa2, on watch for possible downgrade
      -- Current Rating: Ba2

According to Moody's, its rating actions reflect deterioration in the
credit quality of the transaction's underlying collateral portfolio,
consisting primarily of investment-grade corporate bonds.  Moody's noted
that, as reported in the November 2006 trustee report, the weighted
average rating factor of the portfolio was 1165.85, substantially higher
than the transaction's trigger level of 610.


APPTIS INC: Moody's Rates $155 Million Credit Facility at Ba3
-------------------------------------------------------------
Moody's Investors Service assigned a Ba3 senior secured debt rating to the
$155 million credit facility of Apptis , Inc. after the change in the
nature and amount of the company's refinancing of its $107 million credit
facility.

On Nov. 16, 2006, Moody's had assigned a B1 senior secured debt rating to
the company's proposed $180 million credit facility.

As part of the new financing transaction, Apptis will not repay
approximately $20.5 million of senior subordinated payment-in-kind notes
and related accrued interest held by the financial sponsor, New Mountain
Capital, LLC.

Additionally, the face amount of the revolver has been reduced to $25
million from $30 million.

Moody's assigned these ratings:

   -- Ba3, LGD2, 28% to the $25 million senior secured first lien
      revolver maturing 2011;

   -- Ba3, LGD2, 28% to the $130 million senior secured first
      lien term loan B due 2012.

Moody's withdrew these ratings:

   -- B1, LGD3, 33% for the proposed $30 million senior secured
      first lien revolver maturing 2011; and,

   -- B1, LGD3, 33% for the proposed $150 million senior secured
      first lien term loan B due 2012.

Moody's affirmed these ratings:

   -- B2 Corporate Family Rating; and,
   -- B2 Probability of Default Rating.

The ratings outlook remains stable.

Apptis, headquartered in Chantilly, Virginia, provides information
technology services and solutions primarily to federal government
agencies.  The company's core capabilities include software development
and engineering, network infrastructure deployment and support services,
and product fulfillment.  Revenue for the twelve months ended Sept. 30,
2006 was approximately $321 million.


ASARCO LLC: Wants Settlement Pact with TMD Acquisition Approved
---------------------------------------------------------------
ASARCO LLC asks the U.S. Bankruptcy Court for the District of Texas in
Corpus Christi to approve its Settlement Agreement with TMD Acquisition
Corporation to avoid further litigation costs and the possibility of an
adverse outcome.

Under the Settlement Agreement, ASARCO agrees to pay $475,000 to Nord
Resources Corporation, which has succeeded all of TMD's rights in the
matters at issue in the Adversary Proceeding.

Before the Settlement, the Court directed ASARCO and TMD to
mediate their dispute not later than Jan. 14, 2007, and inform
the Court of the outcome of the mediation at a status conference
on Jan. 19, 2007.

Under the Settlement, Nord and TMD agree to dismiss the Adversary
Proceeding with prejudice.  The parties agree to mutually release
all claims they might have against each other.

                       Adversary Proceeding

Pursuant to an asset purchase agreement dated March 2005, ASARCO
LLC sold a mining operation in Tennessee to TMD Acquisition
Corporation.  TMD has filed an adversary proceeding, asking the
Court to determine whether the APA is an executory contract and
whether ASARCO is liable under the APA.

TMD has also filed a proof of claim for $47,416,803 against
ASARCO in connection with the APA.

Timothy P. Dowling, Esq., at Gary, Thomasson, Hall & Marks, P.C.,
in Corpus Christi, Texas, noted that ASARCO's liability under the
APA will be raised in the Adversary Proceeding and possibly, in
an objection to TMD's proof of claim that ASARCO will surely
file.

Since the Adversary Proceeding and the objection to TMD's proof
of claim raise similar issues, Mr. Dowling asserted that ASARCO's
objection to TMD's proof of claim be consolidated and tried in
the Adversary Proceeding.

                         ASARCO's Response

ASARCO had asked the Court to deny TMD's request citing:

   (i) creditors are not allowed to prove up their prepetition
       claims in an adversary proceeding; and

  (ii) it cannot object to TMD's claim until the Court decides
       whether the disputed contract is executory.

Robert Wilmoth, Esq., at Baker Botts L.L.P., in Dallas, Texas,
contends that permitting TMD to litigate its Proof of Claim in
the Adversary Proceeding would open the door to thousands other
creditors who are eager to liquidate their contingent prepetition
claims.  Converting the claims allowance process into a
litigation exercise would consume time and resources better spent
on expanding the bankruptcy estate and formulating a plan of
reorganization, Mr. Wilmoth adds.

Mr. Wilmoth points out that the purpose of the Adversary
Proceeding is simply to determine whether the APA is an executory
contract.  "If TMD succeeds in demonstrating that the APA is
executory, it will not be entitled to any postpetition damages.
Rather, TMD will only be entitled to a declaratory judgment, and
if the APA is rejected, TMD will be entitled to assert a $250,000
lien against the proceeds from the sale of the Tennessee assets."

Mr. Wilmoth asserted that TMD has no claim for rejection damages,
its proof of claim is untimely, and any attempt to force ASARCO
to object to the proof of claim is premature.

                         About ASARCO LLC

Tucson, Ariz.-based ASARCO LLC -- http://www.asarco.com/-- is an
integrated copper mining, smelting and refining company.  Grupo
Mexico S.A. de C.V. is ASARCO's ultimate parent.  The Company
filed for chapter 11 protection on Aug. 9, 2005 (Bankr. S.D. Tex.
Case No. 05-21207).  James R. Prince, Esq., Jack L. Kinzie, Esq.,
and Eric A. Soderlund, Esq., at Baker Botts L.L.P., and Nathaniel
Peter Holzer, Esq., Shelby A. Jordan, Esq., and Harlin C. Womble,
Esq., at Jordan, Hyden, Womble & Culbreth, P.C., represent the
Debtor in its restructuring efforts.  Lehman Brothers Inc.
provides the ASARCO with financial advisory services and
investment banking services.  Paul M. Singer, Esq., James C.
McCarroll, Esq., and Derek J. Baker, Esq., at Reed Smith LLP give
legal advice to the Official Committee of Unsecured Creditors and
David J. Beckman at FTI Consulting, Inc., gives financial advisory
services to the Committee.  When the Debtor filed for protection
from its creditors, it listed $600 million in total assets and
$1 billion in total debts.

The Debtor has five affiliates that filed for chapter 11
protection on April 11, 2005 (Bankr. S.D. Tex. Case Nos. 05-20521
through 05-20525).  They are Lac d'Amiante Du Quebec Ltee, CAPCO
Pipe Company, Inc., Cement Asbestos Products Company, Lake
Asbestos of Quebec, Ltd., and LAQ Canada, Ltd.  Details about
their asbestos-driven chapter 11 filings have appeared in the
Troubled Company Reporter since Apr. 18, 2005.

Encycle/Texas, Inc. (Bankr. S.D. Tex. Case No. 05-21304), Encycle,
Inc., and ASARCO Consulting, Inc. (Bankr. S.D. Tex. Case No.
05-21346) also filed for chapter 11 protection, and ASARCO has
asked that the three subsidiary cases be jointly administered
with its chapter 11 case.  On Oct. 24, 2005, Encycle/Texas' case
was converted to a Chapter 7 liquidation proceeding. The Court
appointed Michael Boudloche as Encycle/Texas, Inc.'s Chapter 7
Trustee.  Michael B. Schmidt, Esq., and John Vardeman, Esq., at
Law Offices of Michael B. Schmidt represent the Chapter 7
Trustee.

ASARCO's affiliates, AR Sacaton LLC, Southern Peru Holdings LLC,
and ASARCO Exploration Company Inc., filed for chapter 11
protection on Dec. 12, 2006 (Bankr. S.D. Tex. Case No. 06-20774 to
06-20776).

(ASARCO Bankruptcy News, Issue No. 34; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000)


ASARCO LLC: Encycle Trustee Taps Avalos as Real Estate Agent
------------------------------------------------------------
Michael Boudloche, the Chapter 7 Trustee for Encycle/Texas Inc., seeks
authority from the U.S. Bankruptcy Court for the Southern District of
Texas in Corpus Christi to retain Armando Avalos Realty Inc. as his real
estate agent, for the sale of the company's 63.94-acre Dunn Tr. property
in Nueces County, Texas.

Armando Avalos Realty will assist the Encycle Trustee in
marketing the real property and liquidating it for the best and
highest price.  Armando Avalos Realty has examined and evaluated
the Property and has agreed to advertise it to interested
parties.

For the marketing of the Dunn Tr. Property, Armando Avalos Realty
will receive a commission of:

   -- 4% for Purchase Price up to $10,000,000;

   -- 3.5% for Purchase Price from $10,000,001 to $15,000,000;

   -- 3.5% for Purchase Price from $15,000,001 to $20,000,000;
      and

   -- 3% for Purchase Price from and more than $20,000,0001.

Armando Avalos, president of Armando Avalos Realty, assures the
Court that his firm does not represent any adverse interest to
the estate and is a "disinterested person" as the term is defined
in Section 101(14) of the Bankruptcy Code.

                         About ASARCO LLC

Tucson, Ariz.-based ASARCO LLC -- http://www.asarco.com/-- is an
integrated copper mining, smelting and refining company.  Grupo
Mexico S.A. de C.V. is ASARCO's ultimate parent.  The Company
filed for chapter 11 protection on Aug. 9, 2005 (Bankr. S.D. Tex.
Case No. 05-21207).  James R. Prince, Esq., Jack L. Kinzie, Esq.,
and Eric A. Soderlund, Esq., at Baker Botts L.L.P., and Nathaniel
Peter Holzer, Esq., Shelby A. Jordan, Esq., and Harlin C. Womble,
Esq., at Jordan, Hyden, Womble & Culbreth, P.C., represent the
Debtor in its restructuring efforts.  Lehman Brothers Inc.
provides the ASARCO with financial advisory services and
investment banking services.  Paul M. Singer, Esq., James C.
McCarroll, Esq., and Derek J. Baker, Esq., at Reed Smith LLP give
legal advice to the Official Committee of Unsecured Creditors and
David J. Beckman at FTI Consulting, Inc., gives financial advisory
services to the Committee.  When the Debtor filed for protection
from its creditors, it listed $600 million in total assets and
$1 billion in total debts.

The Debtor has five affiliates that filed for chapter 11
protection on April 11, 2005 (Bankr. S.D. Tex. Case Nos. 05-20521
through 05-20525).  They are Lac d'Amiante Du Quebec Ltee, CAPCO
Pipe Company, Inc., Cement Asbestos Products Company, Lake
Asbestos of Quebec, Ltd., and LAQ Canada, Ltd.  Details about
their asbestos-driven chapter 11 filings have appeared in the
Troubled Company Reporter since Apr. 18, 2005.

Encycle/Texas, Inc. (Bankr. S.D. Tex. Case No. 05-21304), Encycle,
Inc., and ASARCO Consulting, Inc. (Bankr. S.D. Tex. Case No.
05-21346) also filed for chapter 11 protection, and ASARCO has
asked that the three subsidiary cases be jointly administered
with its chapter 11 case.  On Oct. 24, 2005, Encycle/Texas' case
was converted to a Chapter 7 liquidation proceeding. The Court
appointed Michael Boudloche as Encycle/Texas, Inc.'s Chapter 7
Trustee.  Michael B. Schmidt, Esq., and John Vardeman, Esq., at
Law Offices of Michael B. Schmidt represent the Chapter 7
Trustee.

ASARCO's affiliates, AR Sacaton LLC, Southern Peru Holdings LLC,
and ASARCO Exploration Company Inc., filed for chapter 11
protection on Dec. 12, 2006 (Bankr. S.D. Tex. Case No. 06-20774 to
06-20776).

(ASARCO Bankruptcy News, Issue No. 34; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


BANC OF AMERICA: Moody's Holds Low-B Ratings on Six Cert. Classes
-----------------------------------------------------------------
Moody's Investors Service upgraded the ratings of two classes and affirmed
the ratings of eighteen classes of Banc of America Commercial Mortgage
Inc., Commercial Mortgage Pass-Through Certificates, Series 2004-2 as:

   -- Class A-1, $37,800,504,  Fixed, affirmed at Aaa;
   -- Class A-2, $236,527,000, Fixed, affirmed at Aaa;
   -- Class A-3, $283,402,000, Fixed, affirmed at Aaa;
   -- Class A-4, $125,682,000, Fixed, affirmed at Aaa;
   -- Class A-5, $254,120,181, Fixed, affirmed at Aaa;
   -- Class XC, Notional, affirmed at Aaa;
   -- Class XP, Notional, affirmed at Aaa;
   -- Class B, $27,045,564, Fixed, upgraded to Aa1 from Aa2;
   -- Class C, $12,811,056, Fixed, upgraded to Aa2 from Aa3;
   -- Class D, $24,198,662, Fixed, affirmed at A2;
   -- Class E, $11,387,606, Fixed, affirmed at A3;
   -- Class F, $15,657,957, Fixed, affirmed at Baa1;
   -- Class G, $9,964,155,  Fixed, affirmed at Baa2;
   -- Class H, $15,657,958, WAC,   affirmed at Baa3;
   -- Class J, $4,270,352, Fixed, affirmed at Ba1;
   -- Class K, $5,693,803, Fixed, affirmed at Ba2;
   -- Class L, $5,693,803, Fixed, affirmed at Ba3;
   -- Class M, $7,117,253, Fixed, affirmed at B1;
   -- Class N, $2,846,901, Fixed, affirmed at B2; and,
   -- Class O, $2,846,901, Fixed, affirmed at B3.

As of the December 11, 2006 distribution date, the transaction's aggregate
certificate balance has decreased by approximately 3.4% to $1.10 billion
from $1.14 million at securitization.

The Certificates are collateralized by 94 mortgage loans ranging in size
from less than 1.0% to 10.2% of the pool, with the top 10 loans
representing 39.7% of the pool.  The pool includes five shadow rated
investment grade loans which comprise 18.9% of the pool.  Four loans,
representing 7.1% of the pool balance, have defeased and are
collateralized by U.S. Government securities.

There have been no realized losses since securitization and currently
there are no loans in special servicing.  Three loans, representing 5.6%
of the pool, are on the master servicer's watchlist.

Moody's was provided with year-end 2005 and partial year 2006 operating
results for approximately 97.3% and 85.7%, respectively, of the pool.
Moody's loan to value ratio for the conduit component is 92.7%, compared
to 93.2% at securitization. Moody's is upgrading Classes B and C due to
stable overall pool performance and defeasance.

The largest shadow rated loan is the PPG Place Loan, which is secured by a
1.5 million square foot office complex located in downtown Pittsburgh,
Pennsylvania.  The property is 84.9% occupied, compared to 89.6% at
securitization and is anchored by PPG Industries, Inc.  Part of the
decline in occupancy since securitization is due to PPG exercising a
termination option on two floors in 2005.  Property performance has been
impacted by the occupancy decline.  Moody's current shadow rating is A3,
compared to A2 at securitization.

The second shadow rated loan is the Prince Kuhio Plaza Loan, which is
secured by the borrower's interest in a 504,000 square foot regional mall
located on the island of Hawaii.  The mall is 89.0% occupied, essentially
the same as at securitization, and is anchored by Sears, Macy's, Safeway
and Long's Drugs.  The loan sponsor is General Growth Properties, Inc.
Property performance has improved due to increased revenues and stable
expenses. Moody's current shadow rating is Baa1, compared to Baa2 at
securitization.

The remaining three shadow rated loans comprise 5.1% of the pool. The
Inland TX-CT Retail Portfolio Loan, which is secured by two retail
properties totaling 182,000, is shadow rated Baa2.  The Inland Georgia
Retail Portfolio Loan, which is secured by three retail properties
totaling 291,000 square feet, is shadow rated Baa3.  The Largo Towne
Center Loan, which is secured by a 261,000 square foot retail center
located in Largo, Maryland, is shadow rated A3.  The current shadow
ratings of these loans are the same as at securitization.

The top three non-defeased conduit loans represent 15.0% of the
outstanding pool balance.  The largest conduit loan is the Eden Prairie
Mall Loan, which is secured by the borrower's interest in a 1.1 million
square foot regional mall located in suburban Minneapolis, Minnesota.  The
property is 96.6% occupied, compared to 94.9% at securitization and is
anchored by Sears, Target, Kohl's, and Von Maur.  The former Mervyn's is
being replaced by a J.C. Penney.  None of the anchors are part of the
collateral.  The loan sponsor is General Growth Properties, Inc.

Moody's LTV is 81.8%, compared to 86.2% at securitization.

The second largest conduit loan is the Broward Financial Loan, which is
secured by a 325,000 square foot Class A office tower located in downtown
Fort Lauderdale, Florida.  The property sustained significant damage from
Hurricane Wilma in 2005.  The property has been fully operational since
January 2006 and at this time substantially all of the building repairs
have been made.  Leasing activity during the past year has been hampered
by disruptions caused by damage from the hurricane.  The loan sponsors are
DRA Advisors and Colonial Properties Trust.  The loan matures March 2009.

Moody's LTV is 96.6%, compared to 92.3% at securitization.

The third largest conduit loan is the 104 West 40th Street Loan, which is
secured by a 196,000 square foot Class B office building located in the
midtown submarket of New York City.  The property is 90.6%, occupied
compared to 96.7% at securitization.  The largest tenant is Springs
Industries.

Moody's LTV is 95.6%, compared to in excess of 100.0% at securitization.

The pool's collateral is a mix of office and mixed use, retail,
multifamily, U.S. Government securities, industrial and self storage and
lodging.  The collateral properties are located in
27 states.  The highest state concentrations are Florida, New York,
Pennsylvania , Minnesota  and California.  All of the loans are fixed
rate.


BOSTON GENERATING: Moody’s Withdraws B2 Rating on $500 Mil. Loans
-----------------------------------------------------------------
Moody's Investors Service affirmed the B1 rating on Boston Generating
LLC's first lien credit facilities and the B3 rating on the second lien
term loan after the issuer's decision to increase the first lien credit
facilities by $50 million to $1.45 billion and to decrease the second lien
term loan by $50 million to
$350 million.

The rating outlook remains stable.

The first lien credit facilities will consist of a $1.130 billion term
loan, a $250 million synthetic letter of credit facility, and a $70
million synthetic revolving facility.

Additionally, Moody's has withdrawn the B2 first lien rating on Boston
Gen's existing $370 million term loan and its $130 million revolving
credit facility, which will be repaid upon closing of the new financing.

The ratings reflect the expected high degree of contracted cash flow
anticipated at Boston Gen provided from capacity revenues earned through
the Forward Capacity Market in New England and from four year hedges
established with investment grade counterparties.  Over the next four
years, about one-third of Boston Gen's revenues will be earned from FCM
payments received from the Independent System Operator - New England
providing a highly reliable source of cash flow.

Another 30% - 45% of Boston Gen's revenues are expected to be provided
from various hedges with investment grade counterparties, the majority of
which are already in place.  The ratings also incorporate Boston Gen's
expected credit metrics following the completion of the refinancing.
Boston Gen's ratio of funds from operations to total first and second lien
debt is expected to range between 5% to 6% during the first three years
while its coverage of first and second lien interest expense averages
around 2.0x over this time period.  These credit metrics are consistent
with other B-rated enterprises which have exposure to the more volatile
merchant energy marketplace.

Boston Gen's stable rating outlook reflects the expected receipt of
relatively stable cash flows over the next four years through FCM payments
from ISO-NE and hedge counterparty payments.  The rating outlook
incorporates an expectation of continued strong operating performance
across Boston Gen's plants and relatively rapid de-leveraging given the
100% cash sweep mechanism that is incorporated into the financing
documents.

In light of the substantial leverage and the company's planned hedging
strategies, limited prospects exist for the ratings to be upgraded in the
intermediate term.  However, longer-term, the rating could be upgraded
should Boston Gen utilize excess cash to permanently reduce debt by more
than $400 million and if greater clarity concerning the sustainability of
a forward capacity market in New England surfaces, resulting in the ratio
of FFO to total first and second lien debt approaching 10% on a
sustainable basis.  The ratings could be downgraded if the operating
performance were to weaken or if margins were to shrink resulting in the
ratio of FFO to total first and second lien debt falling below 4% on a
sustainable basis.

Withdrawals:

   * Boston Generating LLC

      -- Senior Secured Bank Credit Facility, Withdrawn,
         previously rated B2

      -- Senior Secured Bank Credit Facility, Withdrawn,
         previously rated B2

Boston Gen is a wholly-owned subsidiary of EBG Holdings, Inc., which in
turn, after completion of the debt restructuring will be owned 9.9% by K
Road BG LLC and 90.1% by others.  Boston Gen owns three separate operating
subsidiaries, Mystic I, LLC, Mystic Development, LLC, and Fore River
Development, LLC.  These subsidiaries collectively own generation
facilities which aggregate 2,976 megawatts and each will guarantee the
credit facilities.  Mystic I, LLC owns Mystic Station, a 573 MW two unit
dual fuel-fired generation station in Everett, Massachusetts. Mystic
Development owns Mystic 8 and 9, a combined 1,602 MW natural gas fired
combined cycle generating facility adjacent to Mystic 7.  Fore River owns
an 801 MW natural gas fired combined cycle generating facility in
Weymouth, Massachusetts.  In addition, an affiliate of K Road manages and
operates the companies and their assets.


BSDB 2005-AFR1: Moody's Cuts Ratings on Two Certificate Classes
---------------------------------------------------------------
Moody's Investors Service downgraded the ratings of three classes and
placed all of the classes of BSDB 2005-AFR1 Trust, Commercial Mortgage
Pass-Through Certificates, Series 2005-AFR1 on review for possible
downgrade:

   -- Class A-1, $57,150,135, Fixed, currently rated Aaa; on
      review for possible downgrade;

   -- Class A-2, $116,345,000, Fixed, currently rated Aaa; on
      review for possible downgrade;

   -- Class A-J, $35,055,000, Fixed, currently rated Aaa; on
      review for possible downgrade;

   -- Class B, $30,780,000, Fixed, currently rated Aa1; on review
      for possible downgrade;

   -- Class C, $10,640,000, Fixed, currently rated Aa2; on review
      for possible downgrade;

   -- Class D, $6,840,000, Fixed, currently rated Aa3; on review
      for possible downgrade;

   -- Class E, $6,080,000, Fixed, downgraded to Ba1 from A1; on
      review for possible downgrade;

   -- Class F, $7,600,000, Fixed, downgraded to Ba2 from A2; on -
      review for possible downgrade; and

   -- Class G, $8,360,000, Fixed, downgraded to Ba3 from A3; on
      review for possible downgrade.

The Certificates evidence beneficial interests in a trust fund, the
principal asset of which is a mortgage loan secured by 202 commercial
properties totaling 5.2 million square feet of net rentable area.  Bank of
America Corporation, currently leases approximately 3.8 million square
feet or 73.3% of the collateral through Sept. 8, 2019, although the firm
has given notice that it will terminate a 202,800 square foot portion of
its area effective Jan. 1, 2007.  After the termination, BOA will occupy
69.3% of the collateral.  Other tenants occupy approximately 10.0% of the
collateral, resulting in an overall occupancy rate of 79.3%.  Occupancy
was 89.8% at securitization.

The unanticipated 10.5% decline in overall occupancy results from the
expiration of BOA's 542,700 square feet of short-term space, the
termination of 202,700 square foot of BOA space and negligible new leasing
to tenants other than BOA. BOA's lease provides for additional periodic
termination options.  Third party tenancy is currently 515,600 square
feet, essentially the same as at securitization.  An 87,000 square foot
executed lease to a third party is expected to commence Jan. 1, 2007.

Moody's is downgrading Classes E, F and G and is placing all nine classes
on review for possible downgrade due to a decline in the debt service
coverage ratio based on net operating income to approximately 1.0x for the
trailing twelve-month period ending September 2006.  The actual DSCR at
securitization was 1.43x and Moody's DSCR based on expected performance
and the actual debt service amount was 1.48x.  The servicer's reported
DSCR for calendar year 2005 was 1.21x although it was calculated using
revenue from properties now released from the pool, revenue from the BOA
short term space which has expired and revenue from the BOA terminated
space.

As of the Dec. 15, 2006 distribution date, the transaction's certificate
balance has declined by approximately 8.3% to
$278.9 million from $304.0 million at securitization as a result of
property releases and amortization on a 29-year schedule.
The mortgage loan borrower is an affiliate of American Financial Realty, a
real estate investment trust which specializes in owning and operating
properties leased to regulated financial institutions. AFR has indicated
that it intends to sell non-core assets, reduce leverage and cut costs.


CATHAY GENERAL: Solid Asset Quality Cues Fitch to Lift Ratings
--------------------------------------------------------------
Fitch Ratings has upgraded the long-term Issuer Default Rating  and
short-term issuer rating of Cathay General Bancorp, Inc. and its bank
subsidiary Cathay Bank to 'BBB-' and 'F3', respectively.
The ratings have been removed from Rating Watch Positive, where they have
been since June 7, 2005.  The Rating Outlook is Stable.

CATY's ratings largely reflect the company's solid asset quality,
consistently strong earnings performance, and sound capital base.  The
ratings also incorporate CATY's successful integration of GBC Bancorp,
acquired several years ago, and the satisfactory resolution of its
Memorandum of Understanding (lifted in 3Q05) pertaining to compliance with
the Bank Secrecy Act.  Given the importance of international trade and
cross border activities to CATY's business, this compliance matter is
clearly a critical rating factor.  Offsetting these issues, Fitch
recognizes that the company has a concentrated loan portfolio and limited
business diversity.  Additionally, given the company's risk profile, Fitch
expects CATY to maintain its sound capital and reserve base, especially in
light of the company being an active acquirer.

Fitch upgrades these ratings:

  Cathay General Bancorp, Inc.

      -- Long-term IDR to 'BBB-' from 'BB+'
      -- Short-term Issuer to 'F3' from 'B'

  Cathay Bank

      -- Long-term IDR to 'BBB-' from 'BB+';
      -- Short-term Issuer to 'F3' from 'B';
      -- Long-term deposits to 'BBB' from 'BBB-'
      -- Short-term deposits to 'F2' from 'F3'.

Fitch affirms these ratings:

  Cathay General Bancorp, Inc.

      -- Individual at 'C';
      -- Support at '5'.

  Cathay Bank

      -- Individual at 'C';
      -- Support at '5'.


CATHOLIC CHURCH: Portland Inks Pact Over Future Claims Estimation
-----------------------------------------------------------------
As part of the global mediation conducted by the Honorable
Michael R. Hogan of the U.S. District Court for the District of
Oregon and Judge Lyle C. Velure, Circuit Court Judge of the State of
Oregon for Lane County, the Archdiocese of Portland in Oregon and David A.
Foraker, the Future Claimants Representative, reached an agreement in
principle concerning the treatment of the class of future claims under a
plan.

In the event a plan based in part on that agreement is confirmed and
becomes effective, the Archdiocese's request to estimate
Future Claims will become moot.

Accordingly, the Archdiocese and the FCR, with the consent of and approval
of certain known Future Claimants and the Tort Claimants
Committee, have agreed that Portland should be granted an additional
extension of time to file its replies to the objections of certain known
Future Claimants, the FCR and the Tort Claimants Committee.

The parties agree that the deadline by which Portland will file its
replies to the objections to the estimation request is extended until May
1, 2007, unless prior to that date, either (i) a plan that has been
accepted by the FCR is confirmed or (ii)
Portland or the FCR requests that the Court fix a different deadline,
which may be a date that is before May 1.

The hearing on the Estimation Request, which was scheduled to be
heard on Dec. 18, 2006, was cancelled.

The Archdiocese of Portland in Oregon filed for chapter 11 protection
(Bankr. Ore. Case No. 04-37154) on July 6, 2004.  Thomas W. Stilley, Esq.,
and William N. Stiles, Esq., at Sussman Shank LLP, represent the Portland
Archdiocese in its restructuring efforts.  Albert N. Kennedy, Esq., at
Tonkon Torp, LLP, represents the Official Tort Claimants Committee in
Portland, and scores of abuse victims are represented by other lawyers.
David A. Foraker serves as the Future Claimants Representative appointed
in the Archdiocese of Portland's Chapter 11 case.  In its Schedules of
Assets and Liabilities filed with the Court on July 30, 2004, the Portland
Archdiocese reports $19,251,558 in assets and $373,015,566 in liabilities.
(Catholic Church Bankruptcy News, Issue No. 75; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000)


CATHOLIC CHURCH: Portland Claimants Seek Writ of Mandamus Issuance
------------------------------------------------------------------
Peter F. Carlich, Suzanne Obrist-Stradley, and 23 other claimants holding
claims against the Archdiocese of Portland in Oregon ask the U.S. Court of
Appeals for the 9th Circuit to issue a writ of mandamus compelling the
U.S. District Court for the District of
Oregon or the U.S. Bankruptcy Court for the District of Oregon to dissolve
a gag order that prohibits all parties and other participants in the
Portland bankruptcy proceeding and all associated federal and state court
cases, from public comment and from communications among participants.

The previously Court-appointed mediators -- U.S. District Court Judge
Michael R. Hogan and Oregon Circuit Court Judge Lyle C. Velure -- in Aug.
28, 2006, issued a gag order, which prohibited all parties, insurers, and
attorneys from discussing any aspect of the case with the media.  The
order stated that no discussions will be made except in the presence of
Judges Hogan and Velure and unless otherwise authorized.

Erin K. Olson, Esq., in Portland, Oregon, asserts that the Gag
Order is an unconstitutional prior restraint on speech – both
unconstitutionally vague and overbroad.  Moreover, she contends that:

    (a) no party in Portland's Chapter 11 case moved for the
        issuance of the Gag Order;

    (b) the mediator-judges issued the Order without identifying
        any grounds;

    (c) discussion of the Cases and the victims' claims does not
        pose a danger or a serious and imminent threat to a
        protected competing interest; and

    (d) the Order is broad and vague as to whom it applies.

Ms. Olson relates that for the victims, speaking out about their abuse --
and about the institutional malfeasance and nonfeasance that caused or
allowed it to happen -- is a significant part of their healing process.
She adds that the Petitioners and their fellow survivors have been
silenced for years by the shame and fear caused by their abuse.  Now, the
mediator-judges are perpetuating the forced silence of the victims,
denying them their own voices and their right to be heard.

The Gag Order further prohibits:

    (a) those who will oppose the proposed Plan of Reorganization
        from voicing their opposition;

    (b) those who will support the Plan from voicing their
        support;

    (c) the Claimants whose individual cases were not solved in
        the mediations from talking about their cases;

    (d) efforts between opposing counsel to settle unresolved
        claims without the involvement or permission of the
        mediator-judges; and

    (e) discussion of the terms of the proposed Plan and of the
        tentative settlements that have been reached.

The mandamus relief should be given because the Petitioners have no other
means to challenge the Gag Order, Ms. Olson asserts.
She adds that the Petitioners will be harmed if they are unable to voice
their thoughts and opinions on their cases and the proposed Plan without
fear of being held in contempt.

The Archdiocese of Portland in Oregon filed for chapter 11 protection
(Bankr. Ore. Case No. 04-37154) on July 6, 2004.  Thomas W. Stilley, Esq.,
and William N. Stiles, Esq., at Sussman Shank LLP, represent the Portland
Archdiocese in its restructuring efforts.  Albert N. Kennedy, Esq., at
Tonkon Torp, LLP, represents the Official Tort Claimants Committee in
Portland, and scores of abuse victims are represented by other lawyers.
David A. Foraker serves as the Future Claimants Representative appointed
in the Archdiocese of Portland's Chapter 11 case.  In its Schedules of
Assets and Liabilities filed with the Court on July 30, 2004, the Portland
Archdiocese reports $19,251,558 in assets and $373,015,566 in liabilities.
(Catholic Church Bankruptcy News, Issue No. 75; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000)


CENTRAL PARKING: Earns $27.9 Million in Fiscal Year 2006
--------------------------------------------------------
Central Parking Corp. reported that net earnings for fiscal 2006 increased
to $27.9 million compared with $14.3 million for fiscal 2005.  Total
revenues were $1.1 billion, which was approximately the same as last year.
Excluding reimbursed management expenses, revenues were $641.6 million in
fiscal 2006 compared with $652.8 million in the prior year.

Operating earnings before property-related gains more than doubled to $36
million for the twelve months ended Sept. 30, 2006.  Earnings from
continuing operations increased to $33.4 million for fiscal 2006 compared
with $32.1 million for fiscal 2005.  Earnings from continuing operations
include pre-tax property related gains of $31.9 million in fiscal 2006
compared with $53.6 million in fiscal 2005.

Net earnings, which include property-related gains and discontinued
operations, for the fourth quarter of fiscal 2006 were $9 million compared
with $9.2 million in the year earlier period.  Total revenues for the
fourth fiscal quarter were $284.9 million compared with $283.1 million in
the fourth quarter of fiscal 2005.  Excluding reimbursed management
expenses, revenues in the fourth quarter of fiscal 2006 were $160.6
million compared with $161.5 million in the prior year period.  Proceeds
from property sales and cash flow from operations were used to reduce debt
during the quarter by $40.8 million.

Operating earnings before property related gains for its fourth fiscal
quarter ended Sept. 30, 2006, increased to $11.9 million compared with
$1.2 million in the same period last year.  Earnings from continuing
operations, which include property-related gains, for the fourth quarter
of fiscal 2006 totaled $8.8 million compared with $18.1 million in the
year earlier period.  Pre-tax property-related gains totaled $5.6 million
in the fourth quarter of 2006 compared with $37.7 million in the fourth
quarter of 2005.

"We are pleased with the substantial improvement in operating earnings
before property related gains for the fourth quarter and full fiscal
year," said Emanuel J. Eads, President and Chief Executive Officer.  "The
continued, successful execution of our strategic plan is reducing expenses
and improving operating margins.  For the fourth quarter, costs related to
our leased and owned segment decreased $4.7 million, or 3.8% compared to
the prior year period, while costs in our managed segment declined by $4.6
million, or 29.3%.  General and administrative expenses decreased $2.3
million, or 11.1% compared to the fourth quarter of last year.

"Our initiative to reposition the geographic footprint of the company to
concentrate on major markets and areas with higher growth potential has
resulted in higher average revenues and profits from remaining locations.
A total of ten domestic and four international markets have been divested
over the past twelve months.  In our remaining international markets, our
efforts to accelerate growth were recently rewarded with three new
contracts to manage parking operations at large retail malls in Colombia
and Chile.  We are also seeing substantial improvements in same store
sales in several markets as we roll out our operational excellence
initiative.  Early results from this program, which is focused on
improving revenues and reducing costs at the location level, are very
promising.

"We are making excellent progress in growing our specialty parking
segments.  Our expansion into the municipal market continues to be very
successful as we were awarded contracts to manage 17 locations for the
City of San Jose, 20 locations for the City of Long Beach, 10 locations
and enforcement of 1,950 spaces for the City of Springfield, Massachusetts
and a 3,300 space garage serving the Kodak Theater and a large retail mall
for the City of Los Angeles.  In the hospitality valet market, our USA
Parking subsidiary continued its expansion with several recent wins,
including contracts to provide parking services for the St. Regis in Ft.
Lauderdale, the Ft. Lauderdale Hilton and the Fairmont Turnberry in Miami.
We also added three valet locations in New Orleans, including the W
Hotel," said Mr. Eads.

At Sept. 30, 2006, the company's balance sheet showed
$788.4 million in total assets, $381.8 million in total liabilities,
$297,000 in minority interest, and $406.2 million in total stockholders'
equity.

Full-text copies of the company's consolidated financial statements for
the year ended Sept. 30, 2006, are available for free at
http://researcharchives.com/t/s?1789

The company's balance sheet at Sept. 30, 2006, also showed
$142.6 million in total current assets available to pay $168 million in
total current liabilities.

                       About Central Parking

Central Parking Corporation (NYSE: CPC) -- http://www.parking.com/--
owns, operates and manages parking and related services including surface
and multi-level parking facilities, design consultation, customer and
employee shuttle services, valet and special event parking, parking meter
enforcement, toll-road collections, and parking notice and collection
services.  Central Parking operates more than 3,400 parking facilities
containing over 1.5 million spaces at locations in 37 states, the District
of Columbia, Canada, Puerto Rico, the United Kingdom, the Republic of
Ireland, Chile, Colombia, Germany, Mexico, Peru, Poland, Spain,
Switzerland, Venezuela and Greece.

                           *     *     *

As reported in the Troubled Company Reporter on Dec. 4, 2006, Standard &
Poor's Ratings Services placed its rating on Central Parking Corp.,
including the B+ corporate credit rating, on CreditWatch with negative
implications.


CHARLOTTE GOLDSTON: Case Summary & 12 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Charlotte Coles Goldston
        aka Charlotte Goldston
        1900 Old Hickory Boulevard
        Brentwood, TN 37027

Bankruptcy Case No.: 06-07361

Chapter 11 Petition Date: December 9, 2006

Court: Middle District of Tennessee (Nashville)

Judge: Keith M. Lundin

Debtor’s Counsel: Joseph P. Rusnak, Esq.
                  Tune Entrekin & White PC
                  Amsouth Center Suite 1700
                  315 Deaderick Street
                  Nashville, TN 37238
                  Tel: (615) 244-2770
                  Fax: (615) 244-2778

Total Assets: $16,122,455

Total Debts:   $6,671,528

Debtor’s 12 Largest Unsecured Creditors:

   Entity                     Nature of Claim       Claim Amount
   ------                     ---------------       ------------
AmSouth Bank                  Line of Credit             $66,000
P.O. Box 11407
Birmingham, AL 35246

TN Department of Revenue      Hall Income Tax            $60,000
500 Deaderick Street
Andrew Jackson State Office
Building
Nashville, TN 37242

MBNA America                  Living Expenses            $50,372
P.O. Box 15026
Wilmington, DE 19850

Charlie Cardwell, Metro       Property Taxes due         $50,000
Trustee                       February 2007
800 Second Avenue N.
Nashville, TN 37201

Allen Still                   Grading Work               $37,928

John Deere Credit             Tractor                    $26,284
P.O. Box 6600
Johnston, IA 50131

AIG Insurance                 Insurance ­ Home,          $24,992
P.O. Box 35423                Auto, Liability,
Newark, NJ 07193              Private Collections

Burke Builders                Barn Construction          $22,500
115 Easton Drive
Mooresville, NC 28117

VISA                          Living Expenses            $20,821
P.O. Box 8650
Wilmington, DE 19899

SunTrust VISA                 Living Expenses            $14,000
P.O. Box 15026
Wilmington, DE 19850

John Deere Credit             Farm Equipment              $7,622
P.O. Box 6600
Johnston, IA 50131

Sawyer Land Surveying                                     $2,500
SunTrust VISA
P. O. Box 15026
Wilmington, DE 19850


CLARK ATLANTA: Moody's Lifts Rating on $22.4 Mil. Bonds to Ba1
--------------------------------------------------------------
Moody's Investors Service upgraded its rating on Clark Atlanta
University's Series 1995 Revenue Bonds to Ba1 from Ba2.

The rating carries a stable outlook at the new level.

The Bonds are also rated Aaa based on insurance with Ambac.  The upgrade
reflects a multi-year restructuring which reduced operating expenses by
19%, three years of growth in total net tuition revenue and an improved
liquidity profile.  The rating applies to $22.4 million of outstanding
Series 1995 Revenue Bonds issued through the Development Authority of
Fulton County.

Legal security:

General obligation secured by certain unrestricted revenues and a
mortgage on the 1995 student housing facility.  Debt service reserve fund.
Additional bonds test.

Interest rate derivatives:

None.

Strengths:

   -- Solid market niche as a historically black institution with
      an applied studies and research focus with net tuition per
      student of $11,971; rebounding enrollment with 4,253 full-
      time equivalent students this fall and freshmen selectivity
      of 48.9%.

   -- Improved operating performance resulting from program cuts
      over the past four years.  Moody's calculation of average
      operating performance of 1.5% at the end of fiscal year
      2006 proves sharp contrast to -6.1% average at the end of
      2004.  Operations supported 2.1 times debt service coverage
      in FY 2006.

   -- Marked improvement in financial resource profile with
      unrestricted financial resources growing from $2 million to
      $10.9 million between fiscal years 2002 and 2006.  Total
      cash and investments grew 27% to $56.9 million across the
      same period.

   -- Substantial, even if reduced, donor support with gift
      revenue averaging $8.6 million over the last three years as
      the University begins planning for a comprehensive
      campaign.

Challenges:

   -- Competitive market environment for students as indicated in
      26% yield rate for the fall's freshmen class for tuition-
      dependent university.

   -- Thin financial resource base relative to debt and
      operations.  At the end of FY 2006, expendable financial
      resources of $20.9 million cushion direct debt by 0.5x and
      4 months of operating expenses.  Comprehensive debt is
      cushioned just 0.1x by expendable resources.

   -- Significant capital needs on campus which has had
      constrained resources to invest in its plant, with age of
      plant at 12.9 years.

Recent developments:

During fiscal year 2006 Clark Atlanta entered into a structured settlement
related to a cooperative agreement grant with the United States Department
of Energy grant.  The program was designed to encourage participation of
minority students in the study of environmental science through a
consortium of universities.  The Department of Energy said the University
was not able to properly document its expenses related to the program
which was in effect between 1990 and 2003.

The University settled to limit litigation costs as well as disruption and
admitted no wrong doing.  Under the settlement the University executed a
note payable to the federal government for $5 million to be paid over five
years.  While the University's financial statements characterized the
entire $5 million as an expense, Moody's has adjusted the expense base to
reflect only the cash expenditures related to the settlement in FY 2006,
moving the remainder below the line.  The University has also hired a
Chief Compliance Officer who is charged with instituting procedures to
ensure future compliance with external grant requirements.

Outlook:

The stable outlook is based on Moody's expectation that the University's
financial recovery plan will continue to contribute to its credit profile.
Moody's expects the recent trend of gradual growth in net tuition revenue
and continued emphasis on cost containment to continue.

What Could Change the Rating - up

   -- Growth in financial resources through fundraising and
      operating surpluses;

   -- limited future borrowing; and,

   -- improvement in student market position.

What Could Change the Rating - down

Decline in financial resources or debt service coverage.

Key indicators:

   Full-time equivalent enrollment: 4,253 students
   Selectivity rate: 48.9%
   Matriculation rate: 25.9%
   Expendable Resources to Direct Debt: 0.5x
   Expendable Resources to Comprehensive Debt: 0.1x
   Total financial resources: $38.8 million
   Total direct debt: $51.8 million
   Expendable financial resources to operations: 0.24x
   Average operating margin: 1.5%
   Average debt service coverage: 1.6x


CLARKE AMERICAN: Moody's Puts Ratings on Review and May Downgrade
-----------------------------------------------------------------
Moody's Investors Service placed Clarke American Corp.'s  ratings on
review for possible downgrade after the report by Clarke's parent company,
M&F Worldwide Corp., of a definitive agreement under which M&F will
acquire the John H. Harland Company for approximately $1.7 billion.

M&F indicated it intends to use new debt and existing cash at Clarke and
Harland to fund the acquisition and the refinancing of existing debt at
Clarke and Harland.  The review for downgrade reflects the significant
increase in Clarke's debt-to-EBITDA leverage that would occur as a result
of the acquisition and proposed funding.

On Review for Possible Downgrade:

   * Clarke American Corp.

      -- Corporate Family Rating, currently B1

      -- Probability of Default Rating, currently B1

      -- Guaranteed Senior Secured Credit Facility, currently
         Ba3, LGD3, 36%

      -- Guaranteed Senior Unsecured Regular Bond/Debenture,
         currently B3, LGD5, 88%

      -- Speculative Grade Liquidity Rating, currently SGL-2

Outlook Actions:

   * Clarke American Corp.

      -- Outlook, Changed To Rating Under Review From Stable

Moody's will evaluate in the review the cash flow prospects of the
combined company including the effects of declining check usage and the
potential benefits from greater revenue diversity and cost synergies.
Moody's will also evaluate the company's financial policies, planned use
of cash flow, the potential for future acquisitions by Clarke or M&F, and
the restrictions on the use of debt and cash flow in the post-transaction
debt instruments.

M&F indicated that Clarke will refinance its existing senior secured
credit facility and senior unsecured notes as part of the transaction.
Moody's would withdraw the ratings on those instruments upon closing of
the acquisition if they are repaid in full.

Clarke American, headquartered in San Antonio, Texas, is a provider of
check and check-related products and services and of direct marketing
services to financial institutions, businesses and consumers in the United
States.  Annual revenues currently approximate $630 million.


CLAYMONT STEEL: Parent IPO Prompts Moody's to Review Ratings
------------------------------------------------------------
Moody's Investors Service placed Claymont Steel Inc.'s ratings under
review for possible upgrade after the initial public offering by parent
company Claymont Steel Holdings Inc.

The primary market portion of the IPO raised $96.8 million in net proceeds
for Holdings, most of which will be used to repurchase Holdings' senior
secured PIK notes, pay accrued interest on the PIK notes through Jan. 31,
2007, and pay $4 million in fees due to H.I.G. Capital LLC, Claymont's
shareholder, the majority of which relates to the termination of a
management services agreement.

The repurchase of the PIK notes and the payment of accrued and unpaid
interest total approximately $89 million.

The review for upgrade reflects the prospective reduction in consolidated
leverage at Holdings and recognizes that Claymont continues to benefit
from strong plate market conditions and is consistently generating
positive free cash flow.  When Holdings issued the PIK notes in July 2006,
Moody's lowered Claymont's ratings by one notch, lowering the corporate
family rating to Caa1 from B3.  Repurchase of the PIK notes is likely to
restore the former ratings, although other factors that Moody's will look
at during the review period include dividend policy, steel market
conditions, operating and marketing plans at Claymont's steel mill
including capital expenditures for upgrades and increased throughput, and
the near-term potential for de-leveraging.

These ratings were placed under review for possible upgrade:

   -- Caa1 corporate family rating,

   -- Caa1  senior secured floating rate notes due 2010.

Moody's expects to complete its review when the Holdings PIK notes are
repurchased, which is estimated to be Jan. 31, 2007.

Based in Claymont, Delaware, Claymont Steel Inc. produces small discrete
plate.  The company sells primarily to end-users in the bridge making,
ship building, heavy equipment, railcars, and tool and die industries.
Rolling capacity at the Claymont mill is approximately 500,000 tons per
year.


COBALT CMBS: Fitch Assigns Low-B Ratings to Eight Cert. Classes
---------------------------------------------------------------
Cobalt CMBS Commercial Trust 2006-C1, commercial mortgage pass-through
certificates, are rated by Fitch:

      -- $47,317,000 class A-1 'AAA';
      -- $358,732,000 class A-2 'AAA';
      -- $138,924,000 class A-AB 'AAA';
      -- $102,255,000 class A-3 'AAA';
      -- $723,677,000 class A-4 'AAA';
      -- $400,908,000 class A-1A 'AAA';
      -- $2,531,161,488 class IO 'AAA';
      -- $253,116,000 class A-M 'AAA';
      -- $208,821,000 Class A-J 'AAA';
      -- $50,623,000 class B 'AA';
      -- $28,475,000 class C 'AA-';
      -- $34,804,000 class D 'A';
      -- $22,147,000 class E 'A-';
      -- $28,476,000 class F 'BBB+';
      -- $25,312,000 class G 'BBB';
      -- $34,803,000 Class H 'BBB-';
      -- $6,328,000 class J 'BB+' ;
      -- $9,492,000 class K 'BB';
      -- $9,492,000 class L 'BB-' ;
      -- $3,164,000 class M 'B+' ;
      -- $6,328,000 class N 'B';
      -- $6,328,000 class O 'B-' ;
      -- $18,000,000 class AMP-E1 'BB';
      -- $7,000,000 class AMP-E2 'BB'.

The $31,639,488 class P is not rated by Fitch.

Classes A-1, A-2, A-AB, A-3, A-4, A-1A, IO, A-M, A-J, B, C and D are
offered publicly, while classes E, F, G, H, I, J, K, L M, N, O, P, AMP-E1
and AMP-E2 are privately placed pursuant to rule 144A of the Securities
Act of 1933.  With the exception of the AMP-E1 and AMP-E2 certificates,
which represent an interest in a subordinate note secured by the Ala Moana
Portfolio, the certificates represent beneficial ownership interest in the
trust, primary assets of which are 166 fixed-rate loans having an
aggregate principal balance of approximately $2,531,161,488, as of the
cutoff date.


COMM 2006-C8: Fitch Rates $9.4 Million Class Certificates at B+
---------------------------------------------------------------
COMM 2006-C8 Mortgage Trust, commercial mortgage pass-through certificates
are rated by Fitch Ratings:

      -- $52,500,000 class A-1 'AAA';
      -- $100,000,000 class A-2A 'AAA';
      -- $366,000,000 class A-2B 'AAA';
      -- $244,500,000 class A-3 'AAA';
      -- $92,500,000 class A-AB 'AAA';
      -- $1,118,212,000 class A-4 'AAA';
      -- $669,280,000 class A-1A 'AAA';
      -- $377,571,000 class A-M 'AAA';
      -- $302,056,000 class A-J 'AAA';
      -- $3,698,510,000 class XP 'AAA';
      -- $3,775,704,017 class XS 'AAA';
      -- $28,318,000 class B 'AA+';
      -- $42,476,000 class C 'AA';
      -- $37,758,000 class D 'AA-';
      -- $23,598,000 class E 'A+';
      -- $28,317,000 class F 'A';
      -- $51,916,000 class G 'A-';
      -- $37,757,000 class H 'BBB+';
      -- $42,477,000 class J 'BBB';
      -- $42,477,000 class K 'BBB-';
      -- $18,878,000 class L 'BB+';
      -- $18,879,000 class M 'BB';
      -- $4,719,000 class N 'BB-';
      -- $9,440,000 class O 'B+'.

The $14,159,000 class P, 9,439,000 class Q, and 42,477,017 class S are not
rated by Fitch.

All classes A-1, A-2A, A-2B, A-3, A-AB, A-4, A-1A, A-M, A-J, B, C, D, E,
F, G and XP are offered publicly, while classes H, J, K, L, M, N, O, P, Q,
S, and XS are privately placed pursuant to rule 144A of the Securities Act
of 1933.  The certificates represent beneficial ownership interest in the
trust, primary assets of which are (number of loans)173 fixed or floating-
rate loans having an aggregate principal balance of approximately
$3,775,704,017, as of the cutoff date.


COMVERSE TECH: Faces Delisting Due to Form 10-Q Filing Delay
------------------------------------------------------------
Comverse Technology Inc. received an additional Staff
Determination Letter from The NASDAQ Stock Market, on Dec. 14, 2006,
indicating that the reported delay in the filing of the Form 10-Q for the
fiscal quarter ended Oct. 31, 2006 serves as an additional basis for the
delisting of the company's securities from NASDAQ under NASDAQ Marketplace
Rule 4310(c)(14).

As disclosed, the NASDAQ Listing and Hearing Review Council issued a stay
of the NASDAQ Listing Qualifications Panel's August 18, 2006 decision
establishing a deadline of Sept. 25, 2006 for the company to be current in
its periodic filings with the SEC.  The Listing Council also issued a stay
of any future Panel determinations to delist the company's securities from
trading pending further action by the Listing Council.

As a result of the company’s reported expanded investigation,
the company expects it will require additional time to file its periodic
reports with the SEC.  The company does not know whether the newly
identified accounting issues or resulting delay in the company's ability
to be current in its periodic filings will result in a lifting of the stay
and a delisting of the company's shares from The NASDAQ Stock Market.
There can be no assurance that the Listing Council will continue the stay
or grant an extension or that the company's securities will remain listed
on the NASDAQ Stock Market.

Comverse Technology, Inc. (NASDAQ: CMVT) --
http://www.comverse.com/-- provides software and systems that
enable network-based multimedia enhanced communication and
billing services.  Over 450 communication and content service
providers in more than 120 countries use Comverse products to
generate revenues, strengthen customer loyalty and improve
operational efficiency.Comverse has offices all over the world,
including Indonesia, Malaysia and the Philippines

                        *     *     *

On Sept. 21, 2006, Standard & Poor's Ratings Services' 'BB-' corporate
credit and senior unsecured debt ratings on Woodbury, New York-based
Comverse Technology Inc. remained on CreditWatch with negative
implications, where they were placed on March 15, 2006.


CONCORD REAL: Fitch Rates $18.6 Million Class H Term Notes at BB
----------------------------------------------------------------
Fitch has assigned these ratings to Concord Real Estate CDO
2006-1, Ltd. and Concord Real Estate CDO 2006-1, LLC, notes, which are due
in December 2046:

      -- $202,275,000 class A-1 senior secured floating-rate term
         notes 'AAA';

      -- $23,250,000 class A-2 second priority senior secured
         floating-rate term notes 'AAA';

      -- $46,500,000 class B third priority floating-rate term
         notes 'AA+';

      -- $20,925,000 class C fourth priority floating-rate term
         notes due 'AA';

      -- $37,200,000 class D fifth priority floating-rate
         deferrable interest term notes 'A';

      -- $22,087,000 class E sixth priority floating-rate
         deferrable interest term notes 'BBB+';

      -- $24,413,000 class F seventh priority floating-rate
         deferrable interest term notes 'BBB-';

      -- $18,600,000 class G eighth priority floating-rate
         deferrable interest term notes 'BBB-';

      -- $18,600,000 class H ninth priority floating-rate
         deferrable interest term notes 'BB'.


COUNTRYSIDE POWER: Confirms Cash Distribution at $0.0863 Per Unit
-----------------------------------------------------------------
Countryside Power Income Fund has confirmed its previously declared
distribution of $0.0863 per unit on Dec. 29, 2006, to its unitholders of
record as of Nov. 30, 2006.

The Fund's syndicate of lenders are granting a short-term waiver of the
cross-default provision under its existing credit agreement that enables
it to make the November cash distribution to unitholders on Dec. 29, 2006.
The cross-default provision was triggered by U.S. Energy Biogas Corp.'s
failure to pay debt service to the Fund under the USEB loan agreement and
the voluntary filing by USEB for reorganization under Chapter 11 of the
U.S. Bankruptcy Code on Nov. 29, 2006.

"We are pleased that our lenders have worked with us to facilitate our
payment of unitholder distributions for November," said Goran Mornhed,
President and Chief Executive Officer of Countryside Ventures LLC.  "The
USEB filing has created an unusual situation for the Fund, and we
appreciate the cooperation and understanding of our lenders and
unitholders while we seek to secure all amounts due under the USEB loan
agreement."

The Fund is currently in discussions with its lenders regarding a
long-term solution which would provide the Fund with greater financial
flexibility to support ongoing distributions and to meet its growth
commitments, including the construction of the new London cogeneration
facility scheduled to be completed in 2008.  The Fund owns, indirectly,
natural gas-fired cogeneration assets based in California which are
unencumbered, and it currently intends to offer these assets as collateral
to the lenders as part of a restructuring of its credit facility.  There
can be no assurance as to the outcome of these discussions with the
lenders.

The Fund holds indirect investments in USEB through a loan made from a
Canadian operating subsidiary.  The loan is secured by all of USEB's
assets, which include 22 renewable power and energy projects located in
the United States, as well as required reserve accounts holding more than
$32 million in liquid assets, as of June 30, 2006.  In the twelve-month
period ended Sept. 30, 2006, the Fund generated approximately $40.6
million in cash flow from operating assets before Fund-level overhead,
taxes and interest expense.  Of that amount, approximately $13.4 million
of cash flow was received from USEB during the same period in the form of
scheduled principal and interest payments.

Consequently, USEB's debt service payments represented 33% of cash flow
from operating assets during the twelve-month period ended Sept. 30, 2006.
Although it was previously reported by the Fund that USEB had made its
full debt service payment of approximately $1.1 million on Nov. 30, 2006,
the information initially received by the Fund was inaccurate due to the
delayed settlement of the foreign exchange transaction with the financial
intermediaries through which USEB's monthly payments are made.  As a
result, the Fund did not receive any debt service payment from USEB on
Nov. 30, 2006.

In connection with the reorganization filing by USEB, the Fund intends to
enforce its rights as senior secured lender, including seeking protection
for the continuation of debt service payments on the USEB loan.

                   December 2006 Distribution

On Oct. 20, 2006, the Fund announced the December cash distribution in the
amount of $0.0860 that would be payable on Jan. 31, 2007, to unitholders
of record as of Dec. 29, 2006.  In light of the ongoing discussions with
its lenders, the Fund cannot confirm at this juncture if the December 2006
distribution will be paid.  Nevertheless, to the extent that the Fund is
able to make the distribution, it still intends that the amount of $0.0860
will be payable on Jan. 31, 2007 to unitholders of record as of Dec. 29,
2006.

                       About U.S. Energy

Headquartered in Avon, Connecticut, U.S. Energy Biogas Corp. --
http://www.usenergysystems.com/-- develops landfill gas projects
in the United States.  Formerly known as Zahren Alternative Power
Corporation or ZAPCO, the company was formed in May 2001 after
ZAPCO's acquisition by U.S. Energy Systems, Inc.  Currently, the
Debtor owns and operates 23 LFG to energy projects with 52
megawatts of generating capacity.  The Debtor and 31 of its
affiliates filed separate voluntary chapter 11 petitions on
Nov. 29, 2006 (Bankr. S.D.N.Y. Case Nos. 06-12827 through 06-
12857).  Joseph J. Saltarelli, Esq., at Hunton & Williams
represents the Debtors in their restructuring efforts.  When the
Debtors filed for protection from their creditors, they listed
estimated assets and debts of more than $100 million.

                         About the Fund

Based in London, Ontario, Countryside Power Income Fund
(TSX: COU.UN) -- http://www.countrysidepowerfund.com/-- has
investments in two district energy systems in Canada, with a
combined thermal and electric generation capacity of approximately 122
megawatts, and two gas-fired cogeneration plants in California with a
combined power generation capacity of 94 megawatts.  In addition, the Fund
has an indirect investment in 22 renewable power and energy projects
located in the United States, which currently have approximately 51
megawatts of electric generation capacity and sold approximately 710,000
MMBtus of boiler fuel in 2005.  The Fund's investment in the projects
consists of loans to, and a convertible royalty interest in, U.S. Energy
Biogas Corp.

                         *     *     *

As reported in the Troubled Company Reporter on Dec. 11, 2006, U.S. Energy
Biogas Corp.'s delinquent reporting of its financial statements and its
subsequent bankruptcy filing constituted a default under Countryside Power
Income Fund's CDN102 million Credit Facility with USEB.

Prior to USEB's filing for bankruptcy, the Fund had suggested a
reorganization of USEB's Credit Facility.  USEB, however, chose to file
for chapter 11 protection, asserting, among other things, that its
business is "operationally healthy" and that the "flawed" Loan impairs its
current capital structure.

The Fund is seeking to secure payment of all amounts pursuant to the
agreements governing the USEB Loan.  The Loan default,
if not waived, could prevent the Fund from making distributions to its
unitholders, in whole or in part.  The Fund's management is currently in
discussions with its senior lenders and will seek a waiver of the default
under the Credit Facility.


CREST 2000: Moody's Pares Rating on $21 Mil. Class D Notes to B2
----------------------------------------------------------------
Moody's Investors Service changed the ratings on these notes issued in
2000 by Crest 2000-1, Ltd.:

   * Class Description: $50,000,000 Class B Second Priority Fixed
     Rate Term Notes due August 2036

      -- Prior Rating: Aa2, on watch for possible upgrade
      -- Current Rating: Aa1

   * Class Description: $21,000,000 Class D Fourth Priority Fixed
     Rate Term Notes due August 2036

      -- Prior Rating: Ba2, on watch for possible downgrade
      -- Current Rating: B2

The deal, static since inception, is a resecuritization transaction.

The rating action concludes the watch placed on the Class B and Class D
notes in September.  The upgrade on the Class B Notes relates to the
improvement of the Class B Overcollateralization Test resulting from
ongoing delevering of the Class A-1 Notes. Conversely, the downgrade on
the Class D Notes reflects the likelihood that the Class D Notes will not
be paid in full given that the current collateral balance of
$287,644,500.31, as reported by the trustee in the November 2006 report,
does not exceed the $289,460,887.05 of Notes that remain outstanding in
the capital structure.  In addition, the swap for the deal is expected to
be a significant liability over the next several years.


CREST 2001-1: Fitch Upgrades Rating on $30 Million Class C Notes
----------------------------------------------------------------
Fitch upgrades three classes and affirms one class of notes issued by
Crest 2001-1, Ltd., as issuer, and Crest 2001-1 Corp., as co-issuer (Crest
2001-1).  These rating actions are effective immediately:

      -- $341,598,011 class A notes affirm at 'AAA';
      -- $30,000,000 class B-1 notes upgrade to 'AA+' from 'A+';
      -- $35,000,000 class B-2 notes upgrade to 'AA+' from 'A+';
      -- $30,000,000 class C notes upgrade to 'BBB+' from 'BB+';

The $25,000,000 preferred shares rated 'BB-' have been paid in full.

Crest 2001-1 is a static arbitrage cash flow collateralized debt
obligation that closed March 7, 2001, and is supported by collateral
selected by Structured Credit Partners LLC, a subsidiary of Wachovia
Corporation.  Crest 2001-1 is composed of real estate investment trust
securities (REITs; 65.2%), and commercial mortgage-backed securities
(CMBS; 34.8%).

The upgrades are the result of improved credit quality of the underlying
portfolio, continued performance of the overcollateralization ratios and
the delevering of the senior notes.  Since Fitch's last rating action on
Sept. 19, 2005, 22.0% of the collateral has been upgraded by at least one
notch compared to one notch downgrades on 6.1% of the assets over the same
time period.  The class A, B, and C OC coverage tests continue have
increased to 135.5% from 133.4%, to 113.8% from 113.1%, and to 106.0% from
105.7% respectively, and are all in compliance with their performance
triggers of 125.0%, 107.0% and 102.0% respectively.  Additionally, the
senior notes have received approximately $38.5 million in principal
payments since close, which has reduced the notional balance on the senior
notes by 10.1%.  The deleveraging of the senior note results in increased
credit enhancement to the subordinate classes.

The rating of the class A notes addresses the likelihood that investors
will receive full and timely payments of interest, as per the governing
documents, as well as the stated balance of principal by the legal final
maturity date.  The ratings of the class B and C notes address the
likelihood that investors will receive ultimate and compensating interest
payments, as per the governing documents, as well as the stated balance of
principal by the legal final maturity date.

The rating of the preferred shares addresses the likelihood that investors
will receive the stated balance of principal by the legal final maturity
date.  As of the Nov. 27, 2006 payment date, the $25 million preferred
shares have received total proceeds of $25.5 million, which decreases the
rated balance of the notes to $0.  As a result, the preferred shares rated
'BB-' by Fitch, have been paid in full.


CYPRESS TREE: Tendered Notes Prompt Moody's Ratings Withdrawal
--------------------------------------------------------------
Moody's withdrawn the ratings on these Classes of Notes issued by Cypress
Tree Investments Partners, Ltd.:

   * $24,400,000 Class B-1 Senior Subordinated Secured Fixed
     Rate Notes Due 2012

      -- Prior Rating: Ca
      -- Current Rating: WR

   * $30,600,000 Class B-2 Senior Subordinated Secured Floating
     Rate Notes Due 2012

      -- Prior Rating: Ca
      -- Current Rating: WR

According to Moody's, the ratings were withdrawn because the notes were
tendered.


DAIMLERCHRYSLER AG: Union May Grant Health Care Concessions
-----------------------------------------------------------
United Auto Workers president Ron Gettelfinger said the union may grant
health-care cost concessions to DaimlerChrysler AG's Chrysler Group after
the automaker posted $1.5 billion net loss in the third quarter, published
reports say.

Mr. Gettelfinger in a radio interview with Detroit radio station WJR, said
that the union is conducting an independent financial study, just like
what the union did with General Motors Corp. and Ford Motor Company.

The study will evaluate DaimlerChrysler's actual financial standing before
the union will decide to offer concessions.  The UAW, however, encounters
difficulty in finding financial data it needs.

GM, Ford, and DaimlerChrysler started asking for concessions in 2005, but
Chrysler's plea was denied because of its relative financial health at
that time, MarketWatch reports.

                       About DaimlerChrysler

Based in Stuttgart, Germany, DaimlerChrysler AG --
http://www.daimlerchrysler.com/-- develops, manufactures,
distributes, and sells various automotive products, primarily
passenger cars, light trucks, and commercial vehicles worldwide.
It primarily operates in four segments: Mercedes Car Group,
Chrysler Group, Commercial Vehicles, and Financial Services.

The Chrysler Group segment offers cars and minivans, pick-up
trucks, sport utility vehicles, and vans under the Chrysler, Jeep,
and Dodge brand names.  It also sells parts and accessories under
the MOPAR brand.

The Chrysler Group is facing a difficult market environment in the
United States with excess inventory, non-competitive legacy costs
for employees and retirees, continuing high fuel prices and a
stronger shift in demand toward smaller vehicles.  At the same
time, key competitors have further increased margin and volume
pressures -- particularly on light trucks -- by making significant
price concessions.  In addition, increased interest rates caused
higher sales & marketing expenses.

In order to improve the earnings situation of the Chrysler Group
as quickly and comprehensively, measures to increase sales and cut
costs in the short term are being examined at all stages of the
value chain, in addition to structural changes being reviewed as
well.


DELPHI CORPORATION: Appaloosa Discloses 15.12% Equity Stake
-----------------------------------------------------------
Appaloosa Management L.P. and its affiliates disclose, in a Form 13D/A
filing with the Securities and Exchange Commission, that they own
approximately 84,000,000 shares or 15.12% of Delphi
Corporation common stock:

                                           No. of     % of Class
Entity                                  Shares Held  Represented
------                                  -----------  -----------
Appaloosa Management L.P.                84,949,069     15.12%
Appaloosa Partners Inc.                  84,949,069     15.12%
David A. Tepper                          84,949,069     15.12%
Appaloosa Investment Ltd Partnership I   60,665,069     10.80%
Palomino Fund Ltd.                       57,233,069     10.19%

Appaloosa Management, Appaloosa Partners, and Appaloosa Investment are
general partners.  Appaloosa Partners and Palomino are also general
partners.  Appaloosa Management serves as investment adviser to Palomino.
Mr. Tepper is the president of Appaloosa Partners, Appaloosa Management,
Appaloosa Investment and Palomino.

Appaloosa Management, Appaloosa Partners and Mr. Tepper beneficially own
52,000,000 shares of Delphi common stock.
Appaloosa Investment beneficially owns 27,716,000 shares of Common Stock.
Palomino beneficially owns 24,284,000 shares of Common Stock.

The aggregate purchase price of the Appaloosa Investment Shares was
$9,295,306, while the aggregate purchase price of the Palomino Shares was
$8,144,293, Mr. Tepper says.

The acquisition of the shares of Common Stock that are the Appaloosa
Entities currently beneficially own was for investment
purposes, Mr. Tepper relates.

As a result of the Equity Purchase and Commitment Agreement by and between
Delphi; A-D Acquisition Holdings, LLC; Harbinger Del-Auto Investment Co.
Ltd.; Dolce Investments LLC; Merrill Lynch, Pierce, Fenner & Smith
Incorporated; and UBS Securities LLC; and the Plan Framework Support
Agreement by and between Delphi; AMLP; Harbinger Capital Partners Master
Fund I, Ltd.; Cerberus Capital Management, L.P.; Merrill Lynch; UBS; and
General Motors Corporation, Mr. Tepper notes that the Appaloosa Entities
are deemed to be the beneficial owners of shares of Delphi common stock
beneficially owned by the other Plan Investors.

According to Mr. Tepper, Harbinger and its related entities beneficially
own 26,450,000 shares, Merrill Lynch beneficially owns 1,958,350 shares
and UBS beneficially owns 4,540,719 shares.

Troy, Mich.-based Delphi Corporation -- http://www.delphi.com/--
is the single largest global supplier of vehicle electronics,
transportation components, integrated systems and modules, and
other electronic technology.  The Company's technology and
products are present in more than 75 million vehicles on the road
worldwide.  The Company filed for chapter 11 protection on Oct. 8,
2005 (Bankr. S.D.N.Y. Lead Case No. 05-44481).  John Wm. Butler
Jr., Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at
Skadden, Arps, Slate, Meagher & Flom LLP, represent the Debtors in
their restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell
A. Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins
LLP, represents the Official Committee of Unsecured Creditors.
As of Aug. 31, 2005, the Debtors' balance sheet showed
$17,098,734,530 in total assets and $22,166,280,476 in total
debts.  (Delphi Bankruptcy News, Issue No. 51; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


DELPHI CORPORATION: Highland Capital Discloses 6% Equity Stake
--------------------------------------------------------------
In a regulatory filing with the Securities and Exchange Commission,
Highland Capital Management, L.P., and its affiliated entities disclose
that they beneficially own shares of Delphi Corp. common stock:

                                         No. of      % of Class
   Entity                              Shares Held   Represented
   ------                              -----------   -----------
   James D. Dondero                     40,276,415      7.17%

   Highland Capital Management, L.P.    34,981,915      6.22%

   Strand Advisors, Inc.                34,981,915      6.22%

   Highland Credit Strategies Fund       2,886,450      0.51%

   Highland Multi-Strategy
   Master Fund, L.P.                     1,003,000      0.18%

   Highland Multi-Strategy
   Onshore Master SubFund, L.L.C.        1,003,000      0.18%

About 561,781,590 shares of Delphi Common Stock were outstanding as of
July 31, 2006.

Highland Capital serves as an investment adviser and manager to
HCF and Master Fund.  Master Fund is the managing member of
SubFund.  Highland Capital may be deemed to beneficially own
shares owned, held by, and for the account and benefit of HCF,
Master Fund and SubFund.

Strand is the general partner of Highland Capital.  Strand may be
deemed to beneficially own shares owned, held by, and for the
account and benefit of Highland Capital.

Mr. Dondero is the president of HCF and the president and a
director of Strand. Mr. Dondero may be deemed to beneficially own
shares owned, held by, and for the account and benefit of Strand.

The Highland/Strand Entities are headquartered at Two Galleria
Tower, 13455 Noel Road, Suite 800, in Dallas, Texas.

Troy, Mich.-based Delphi Corporation -- http://www.delphi.com/--
is the single largest global supplier of vehicle electronics,
transportation components, integrated systems and modules, and
other electronic technology.  The Company's technology and
products are present in more than 75 million vehicles on the road
worldwide.  The Company filed for chapter 11 protection on Oct. 8,
2005 (Bankr. S.D.N.Y. Lead Case No. 05-44481).  John Wm. Butler
Jr., Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at
Skadden, Arps, Slate, Meagher & Flom LLP, represent the Debtors in
their restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell
A. Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins
LLP, represents the Official Committee of Unsecured Creditors.
As of Aug. 31, 2005, the Debtors' balance sheet showed
$17,098,734,530 in total assets and $22,166,280,476 in total
debts.  (Delphi Bankruptcy News, Issue No. 50; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


DELTA AIR: Unofficial Panel Expects Maximized Creditor Recoveries
-----------------------------------------------------------------
The Unofficial Committee of Unsecured Claimholders of Delta Air Lines Inc.
responded to Delta's filing of its proposed chapter 11 plan and related
disclosure statement by stating that it appreciates the progress Delta has
made thus far in its restructuring efforts and looks forward to analyzing
carefully and discussing with Delta the proposed plan and the assumptions
upon which it is based.

The Unofficial Committee added, however, that it expects Delta to consider
methodically, proactively and fairly strategic alternatives to its
proposed stand-alone chapter 11 plan to ensure that creditor recoveries
are maximized in the chapter 11 process.

The Unofficial Committee now consists of 17 members that hold unsecured
notes, unsecured deficiency claims relating to aircraft equipment leasing
arrangements and other unsecured claims aggregating more than $2.25
billion of unsecured claims against Delta.

The Unofficial Committee's financial advisor is Jefferies & Company, Inc.,
and its legal counsel is Paul, Weiss, Rifkind, Wharton & Garrison LLP.

Headquartered in Atlanta, Georgia, Delta Air Lines (OTC: DALRQ)
-- http://www.delta.com/-- is the world's second-largest airline
in terms of passengers carried and the leading U.S. carrier across
the Atlantic, offering daily flights to 502 destinations in 88
countries on Delta, Song, Delta Shuttle, the Delta Connection
carriers and its worldwide partners.  The Company and 18
affiliates filed for chapter 11 protection on Sept. 14, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-17923).  Marshall S. Huebner,
Esq., at Davis Polk & Wardwell, represents the Debtors in their
restructuring efforts.  Timothy R. Coleman at The Blackstone Group
L.P. provides the Debtors with financial advice.  Daniel H.
Golden, Esq., and Lisa G. Beckerman, Esq., at Akin Gump Strauss
Hauer & Feld LLP, provide the Official Committee of Unsecured
Creditors with legal advice.  John McKenna, Jr., at Houlihan Lokey
Howard & Zukin Capital and James S. Feltman at Mesirow Financial
Consulting, LLC, serve as the Committee's financial advisors.  As
of June 30, 2005, the company's balance sheet showed $21.5 billion
in assets and $28.5 billion in liabilities.


DENNY’S CORP: Units Ink New $350 Million Senior Loan Agreement
--------------------------------------------------------------
Denny’s Inc. and Denny’s Realty LLC, an operating subsidiaries
of Denny's Corp., have entered into a new senior secured credit agreement
in an aggregate principal amount of $350 million.
The Company estimates that based on current interest rates, the
refinancing will save approximately $5.5 million per year in
cash interest.

"We are pleased to be able to complete this refinancing transaction, which
further strengthens the Company’s capital structure, as it will allow us
to reduce Denny’s cost of borrowing," said Nelson J. Marchioli, President
and Chief Executive Officer.  "The positive response to this transaction
by the credit rating agencies and our lenders is a testament to Denny’s
ongoing operational improvements that have generated increasing cash flow
and greater financial stability.  The favorable terms of this refinancing
will result in further improved cash flow, which will provide additional
flexibility
to continue investing in the Denny’s brand and to advance our commitment
to reducing debt."

The new credit facility consists of a $50 million revolving credit
facility, a $260 million term loan, and an additional
$40 million synthetic letter of credit facility.  The revolving facility
matures in five years and the term loan and synthetic letter of credit
facility mature in five and a half years.
Banc of America Securities LLC acted as sole lead arranger and book
manager for the new credit facility and Bank of America, N.A. will serve
as administrative agent.

The new credit facility has been used to refinance the Company’s prior
credit facility and will be available for working capital, capital
expenditures and other general corporate purposes.  The new facility is
guaranteed by Denny’s Corporation and its other subsidiaries and is
secured by substantially all of the assets of the Company and its
subsidiaries.

In addition, the new facility is secured by first-priority mortgages on
140 company-owned real estate assets. Interest
on loans under the new revolving facility will be payable, initially, at
per annum rates equal to LIBOR plus 250 basis points and adjusting over
time based upon Denny’s leverage ratio.  Interest on the new term loan
will be payable at per annum rates equal to LIBOR plus 225 basis points.
The covenants under the new agreement remain generally consistent with
those under the prior agreement.

                       About Denny's Corp.

Headquartered in Spartanburg, South Carolina, Denny's Corp.
-- http://www.dennys.com/-- is America's largest full-service
family restaurant chain, consisting of 543 company-owned units
and 1,035 franchised and licensed units, with operations in the
United States, Canada, Costa Rica, Guam, Mexico, Puerto Rico,
and New Zealand .

                          *     *     *

On Nov 22, 2006, Moody's Investors Service assigned Denny's Inc.'s
proposed $350 million senior secured credit facility consisting of a $50
million revolver, a $260 million term loan B and a
$40 million synthetic letter of credit facility.


DUKE FUNDING: Moody's Puts Ratings on Watch for Possible Upgrade
----------------------------------------------------------------
Moody's Investors Service puts these classes of notes issued by Duke
Funding IV, Ltd., a collateralized debt obligation issuer, on watch for
possible upgrade:

   * $42,000,000 Class B Second Priority Senior Secured Floating
     Rate Notes due 2038

      -- Prior Rating: Aa2
      -- Current Rating: Aa2, on watch for possible upgrade

   * $17,500,000 Class C Mezzanine Secured Floating Rate Notes
     due 2038

      -- Prior Rating: Baa2
      -- Current Rating: Baa2, on watch for possible upgrade

Moody's upgraded these classes of notes also issued by Duke Funding IV, Ltd.:

   * $11,000,000 Preference Shares

      -- Prior Rating: Ba3, on watch for possible upgrade
      -- Current Rating: Baa3

   * $5,000,000 Composite Securities

      -- Prior Rating: Baa3, on watch for possible upgrade
      -- Current Rating: Aa3

   * $3,500,000 Composite 2 Securities

      -- Prior Rating: Baa2, on watch for possible upgrade
      -- Current Rating: Aa3

According to Moody's, the rating actions were the result of the
amortization of the transaction's Class A-1 and A-2 First Priority Senior
Secured Floating Rate Notes due 2023 and the rapid reduction in the
Preference Shares Rated Balance.


DURA AUTOMOTIVE: Court OKs Hiring of Ordinary Course Professionals
------------------------------------------------------------------
DURA Automotive Systems Inc. and its debtor affiliates obtained authority
from the U.S. Bankruptcy Court for the District of Delaware to employ
ordinary course professionals.

The Debtors retain the services of various attorneys, accountants, and
other professionals in the ordinary course of their business operations.
The OCPs provide services to the Debtors in a variety of discrete matters
unrelated to the Debtors' Chapter 11 cases, including, but not limited to,
general corporate, accounting, auditing, tax, and litigation matters.

A 3-page list of the Debtors' Ordinary Course Professionals is available
for free at http://ResearchArchives.com/t/s?1732

The Debtors sought the Court's permission to continue to employ the OCPs
postpetition without each OCP having to file a formal application for
employment and compensation pursuant to Sections 327, 328, 329, and 330 of
the Bankruptcy Code.  "Due to the number and geographic diversity of the
OCPs regularly retained by the Debtors, it would be unwieldy and
burdensome both to the Debtors and to the Court to ask each OCP to apply
separately for approval of its employment and compensation," Mark D.
Collins, Esq., at Richards, Layton & Finger, P.A., in Wilmington,
Delaware, says.

The Debtors do not believe that Section 327 of the Bankruptcy Code
requires court approval, but, out of an abundance of caution, the Debtors
sought the permission of the Honorable Kevin J. Carey of the U.S.
Bankruptcy Court for the District of Delaware to employ the OCPs.

The Debtors want to retain the OCPs on terms substantially similar to
those in effect prior to the bankruptcy filing Date.  The Debtors
represent that:

    (a) they wish to employ the OCPs as necessary for the day-to-
        day operations of their businesses;

    (b) expenses for the OCPs will be kept to a minimum; and

    (c) the OCPs will not perform substantial services relating to
        bankruptcy matters without the Court's permission.

"Although some of the OCPs may hold minor amounts of unsecured claims
against the Debtors in respect of prepetition services rendered, the
Debtors do not believe that any of the OCPs have an interest materially
adverse to the Debtors, their creditors or other parties-in-interest.  By
this motion, the Debtors are not requesting authority to pay prepetition
amounts owed to OCPs,"
Mr. Collins says.

The Debtors propose these uniform procedures for the retention and
compensation of the OCPs:

    (a) The Debtors will be authorized to pay, without formal
        application to the Court by any OCP, 100% of fees and
        disbursements to each of the OCPs retained by the Debtors
        after submission to the Debtors of an Affidavit of
        Disinterestedness, and upon submission to the Debtors of
        an appropriate invoice; provided that those fees,
        excluding costs and disbursements, do not exceed $35,000
        per month on average over a rolling three-month period
        while the Debtors' reorganization cases are pending.

    (b) Any payments made in excess of the fee cap will be subject
        to prior Court approval.

    (c) Starting January 15, 2007, and on each April 15, July 15,
        October 15 and January 15 of every year thereafter in
        which the Debtors' cases are pending, the Debtors will
        file with the Court and serve on the Office of the U.S.
        Trustee, counsel for any official committees, and counsel
        to the Debtors' secured lenders; a statement with respect
        to the immediately preceding three-month period.  The
        Statement will include the name of the OCP, the aggregate
        amounts paid, and a general description of the services
        rendered.

    (d) Each OCP will file with the Court and serve on the
        Debtors, counsel for the Debtors, the Office of U.S.
        Trustee, and counsel to any official committee, an
        affidavit of disinterestedness at least 14 days before
        submitting an invoice to the Debtors.

    (e) The Notice Parties will have 10 days to object to the
        Affidavit of Disinterestedness.  If objections are not
        timely resolved by the parties, the Court will hear the
        Objections.  If no Objection is received, the Debtors will
        be authorized to retain and pay the OCP.

    (f) The Debtors reserve the right to supplement the OCP List.

Mr. Collins notes that some of the Debtors' OCPs may be unwilling
to continue to represent the Debtors on an ongoing basis if the
Debtors cannot pay them on a regular basis.  "If the background
knowledge, expertise and familiarity that the OCPs have with the
Debtors and their operations are lost, the Debtors will
undoubtedly incur additional and unnecessary expenses in getting
replacement professionals 'up to speed.'  The Debtors' estates
and their creditors are best served by avoiding any disruption in
the professional services required in the day-to-day operation of
their businesses."

Rochester Hills, Mich.-based DURA Automotive Systems, Inc. (Nasdaq: DRRA)
-- http://www.DURAauto.com/-- is an independent designer and manufacturer
of driver control systems, seating control systems, glass systems,
engineered assemblies, structural door modules and exterior trim systems
for the global automotive industry.  The company is also a supplier of
similar products to the recreation vehicle and specialty vehicle
industries.  DURA sells its automotive products to North American,
Japanese and European original equipment manufacturers and other
automotive suppliers.

The Debtors filed for chapter 11 petition on October 30, 2006 (Bankr.
District of Delaware Case No. 06-11202).  Richard M. Cieri, Esq., Marc
Kieselstein, Esq., Roger James Higgins, Esq., and Ryan Blaine Bennett,
Esq., of Kirkland & Ellis LLP are lead counsel for the Debtors' bankruptcy
proceedings.  Mark D. Collins, Esq., Daniel J. DeFranseschi, Esq., and
Jason M. Madron, Esq., of Richards Layton & Finger, P.A. Attorneys are the
Debtors'
co-counsel.  Baker & McKenzie acts as the Debtors' special counsel.
Togut, Segal & Segal LLP is the Debtors' conflicts counsel.  Miller
Buckfire & Co., LLC is the Debtors' investment banker.  Glass & Associates
Inc., gives financial advice to the Debtor.  Kurtzman Carson Consultants
LLC handles the notice, claims and balloting for the Debtors and Brunswick
Group LLC acts as their Corporate Communications Consultants for the
Debtors.  As of July 2, 2006, the Debtor had $1,993,178,000 in total
assets and $1,730,758,000 in total liabilities.  (Dura Automotive
Bankruptcy News, Issue No. 6; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


DURA AUTOMOTIVE: Gets Court Nod on Interim Compensation Procedures
------------------------------------------------------------------
DURA Automotive Systems Inc. and its debtor affiliates were granted
authority by the Honorable Kevin J. Carey U.S. Bankruptcy Court for the
District of Delaware to set up interim compensation procedures.

The Debtors had asked Judge Carey to establish uniform procedures for the
allowance and payment of compensation and reimbursement for attorneys and
other professionals whose retentions are approved by the Court pursuant to
Sections 327 or 1103 of the Bankruptcy Code and who will be required to
file applications for allowance of compensation and reimbursement of
expenses pursuant to Sections 330 and 331.

The Debtors sought to retain:

    (a) Kirkland & Ellis LLP as their bankruptcy counsel,

    (b) Richards, Layton & Finger, P.A., as their Delaware
        counsel,

    (c) Miller Buckfire & Co., LLC, as their investment bankers,

    (d) Kurtzman Carson Consultants, LLC, as their notice, claims
        and balloting agent,

    (e) Baker & McKenzie as their special counsel,

    (f) Togut, Segal & Segal, LLP, as their special conflicts
        counsel,

    (g) Glass & Associates, Inc., as their financial advisors,

    (h) Brunswick Group, LLC, as their corporate communications
        consultants,

    (i) Ernst & Young, LLP, as their internal auditors and
        accountants,

    (j) Deloitte & Touche, LLP, as their independent auditors and
        accountants, and

    (k) Deloitte Tax, LLP, as their tax service providers and tax
        consultants.

The Debtors anticipate they may also retain other professionals as the
need arises.

Professionals, who will be required to submit interim and final
applications in accordance with Sections 330 and 331 of the Bankruptcy
Code, fall under two categories:

    (a) separately retained Chapter 11 professionals under
        Sections 327(a) or 327(e) of the Bankruptcy Code; and

    (b) those ordinary course professionals whose fees and
        expenses are subject to and exceed limitations set.

The Debtors propose the monthly payment of compensation and reimbursement
of expenses of the Professionals be structured this way:

    (1) Professionals are required to serve month statements on
        the Debtors, counsel for the Debtors, counsel for the
        Official Committee of Unsecured Creditors, and the Office
        of the United States Trustee for the District of Delaware.

    (2) The Notice Parties have 20 days to objected to the
        requested fees and expenses.  If there are no objections,
        the Debtors are authorized to pay 80% of the fees and 100%
        of the expenses requested in the Monthly Fee Application.

    (3) If the parties can't resolve the Objection, the
        Professional may file a request with the Court for payment
        of the difference between the Maximum Monthly Payment and
        the Actual Monthly Payment made to the affected
        Professional or forego payment of the Incremental Amount
        until the next interim or final fee application hearing.

    (4) At four-month intervals, the Professionals are required to
        file and serve a request for interim Court approval and
        allowance of the compensation and reimbursement of
        expenses they sought in their Monthly Fee Applications,
        including any holdbacks.

    (5) The Debtors will ask the Court to schedule a hearing on
        the Interim Fee Application Requests at least once every
        six months.  The Court may grant an Interim Fee
        Application Request without a hearing if there are no
        pending or timely filed Objections.

    (6) All fees and expenses paid to Professionals under the
        Compensation Procedures are subject to disgorgement until
        final allowance by the Court.

The Debtors believe the proposed procedures will enable them to monitor
closely costs of administration, maintain a level of cash flow
availability, and implement efficient cash management procedures.
Moreover, the Debtors note, the procedures will allow the Court and key
parties-in-interest to ensure the reasonableness and necessity of the
compensation and reimbursement sought.

Rochester Hills, Mich.-based DURA Automotive Systems, Inc.
(Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent designer
and manufacturer of driver control systems, seating control systems, glass
systems, engineered assemblies, structural door modules and exterior trim
systems for the global automotive industry.  The company is also a
supplier of similar products to the recreation vehicle and specialty
vehicle industries.  DURA sells its automotive products to North American,
Japanese and European original equipment manufacturers and other
automotive suppliers.

The Debtors filed for chapter 11 petition on October 30, 2006 (Bankr.
District of Delaware Case No. 06-11202).  Richard M. Cieri, Esq., Marc
Kieselstein, Esq., Roger James Higgins, Esq., and Ryan Blaine Bennett,
Esq., of Kirkland & Ellis LLP are lead counsel for the Debtors' bankruptcy
proceedings.  Mark D. Collins, Esq., Daniel J. DeFranseschi, Esq., and
Jason M. Madron, Esq., of Richards Layton & Finger, P.A. Attorneys are the
Debtors'
co-counsel.  Baker & McKenzie acts as the Debtors' special counsel.
Togut, Segal & Segal LLP is the Debtors' conflicts counsel.  Miller
Buckfire & Co., LLC is the Debtors' investment banker.  Glass & Associates
Inc., gives financial advice to the Debtor.  Kurtzman Carson Consultants
LLC handles the notice, claims and balloting for the Debtors and Brunswick
Group LLC acts as their Corporate Communications Consultants for the
Debtors.  As of July 2, 2006, the Debtor had $1,993,178,000 in total
assets and $1,730,758,000 in total liabilities.  (Dura Automotive
Bankruptcy News, Issue No. 6; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


EAGLE BROADBAND: LBB & Associates Raises Going Concern Doubt
------------------------------------------------------------
LBB & Associates Ltd. LLP in Houston, Texas, raised substantial doubt
about Eagle Broadband Inc.'s ability to continue as a going concern after
auditing the company's financial statements for the fiscal years ended
Aug. 31, 2006, and 2005.  The auditing firm pointed to the company's
negative working capital, losses in 2005 and 2006, and need for additional
financing necessary to support its working capital requirements.

At Aug. 31, 2006, the company's balance sheet showed
$21.764 million in total assets, $19.901 million in total liabilities, and
$1.863 million in total shareholders' equity.  The company shareholders'
equity stood at $23.104 million at Aug. 31, 2005.

The company's balance sheet at Aug. 31, 2006, showed
$10.613 million in working capital deficit with $5.610 million in total
current assets available to pay $16.223 million in total current
liabilities.

For the year ended Aug. 31, 2006, the company’s consolidated operations
generated net sales from continuing operations of $3.941 million compared
with prior year net sales of
$5.242 million.  The decrease in net sales is primarily attributable to a
one-time prior year sale of $1.065 million to a major customer.

Sales from discontinued operations for the year ended Aug. 31, 2006, were
$1.656 million of which $1.189 million were for the sale of residential
security monitoring contracts.  For the year ended Aug. 31, 2005, sales
from discontinued operations were $3.350 million of which $2.362 million
were from the sale of residential security monitoring contracts.

For the fiscal year ended Aug. 31, 2006, the company reported a $26.933
million net loss compared with a $55.962 million net loss in the
comparable period in 2005.

A full-text copy of the company's annual report is available for free at
http://ResearchArchives.com/t/s?1799

Eagle Broadband Inc. provides bundled digital services, satellite
communications products, project management, and enterprise management
products and services.


EATON VANCE: Moody's Pares Rating on $286 Mil. Class A Notes to B2
------------------------------------------------------------------
Moody's Investors Service lowered its rating on these class of notes
issued by Eaton Vance CDO II Ltd, a collateralized debt obligation issuer:

   * $286,600,000 Class A Floating Rate Notes Due 2012

      -- Prior Rating: B1, on watch for possible downgrade
      -- Current Rating: B2

According to Moody's, the rating action reflects the deterioration in the
credit quality of the transaction's underlying collateral portfolio, the
occurrence of asset defaults and par losses, and the failure of coverage
tests.  As reported in the November 2006 trustee report, the weighted
average rating factor of the portfolio was 4947, compared to the
transaction's trigger level of 2780.

The Class A overcollateralization ratio was 83.1%, compared to the trigger
level of 131.5%, the Class B overcollateralization ratio was 32%, compared
to the transaction's trigger level of 109.4%, and the Class C
overcollateralization ratio was 28%, compared to the transaction's trigger
of 105.2%.  The Class A interest coverage ratio was 97.7%, compared to the
trigger level of 135%, the Class B interest coverage ratio was 32%,
compared to the trigger level of 130%, and the Class C interest coverage
ratio was 25.4%, compared to the trigger level of 130%.


EDULINK INC: October 31 Balance Sheet Upside-Down by $2.8 Million
-----------------------------------------------------------------
Edulink Inc. reported a $1.3 million net loss on $875,423 of revenues for
the quarter ended Oct. 31, 2006, compared with a $487,922 net loss on
$658,431 of revenues for the same period in 2005.

Advertising revenue increased by $206,020 to $845,715 as compared to
$639,695 for the quarter ended Oct. 31, 2005.  Other revenue, consisting
of cancellation of debt and studio services, increased by $10,972 due to
the restructuring and modernization of the company's video and recording
studios.

The increase in net loss is primarily attributable to the increase in
operating, selling, general and administrative expenses.

The increase in operating expense is principally attributable to increased
broadcasting expenses.

At Oct. 31, 2006, the company's balance sheet showed $1.7 million in total
assets and $4.5 million in total liabilities, resulting in a $2.8 million
total stockholders' deficit.

Full-text copies of the company's consolidated financial statements for
the quarter ended Oct. 31, 2006, are available for free at
http://researcharchives.com/t/s?1798

                  Acquisition of Mega Media Group

On Aug. 11, 2006, Edulink Inc. acquired all of the outstanding capital
stock of Mega Media Group Inc., a New York corporation, in exchange for
the issuance to the Mega Media Group shareholders, of a total number of
shares of the company common stock representing 90% of the company’s
issued and outstanding common stock.  Upon the closing of the merger, Mega
Media Group became a wholly-owned subsidiary of the company.  The
transaction has been accounted for as a reverse acquisition.

                        Going Concern Doubt

Malone & Bailey, PC, in Houston, Texas, expressed substantial doubt about
Edulink Inc.'s ability to continue as a going concern after auditing the
company's consolidated financial statements for the years ended Dec. 31,
2005, and 2004.  The auditing firm pointed to the company's recurring
losses from operations and working capital deficiency.

                         About Edulink Inc.

Edulink Inc. (Other OTC: MYIQ.PK) -- http://www.edulinkinc.com/
-- prior to the acquisition of Mega Media Group Inc., was engaged in the
design, development and production of web-based integrated learning
content management and delivery systems.  Upon the effectiveness of the
merger, the company succeeded to the business of Mega Media Group Inc.,
which will be continued as its sole line of business.

Headquartered in Brooklyn, New York, Mega Media Group Inc. --
http://megamediagroup.com/-- is a multi-media holding company with five
wholly owned subsidiaries.  The company's focus is mainstream
entertainment and media and Russian ethic media.


EMERALD INVESTMENT: Moody's Upgrades Rating on $30 Million Notes
----------------------------------------------------------------
Moody's Investors Service upgraded these notes issued by Emerald
Investment Grade CBO, Limited:

   * $50,000,000 Class II Senior Notes Due 2011

      -- Prior Rating: A3, on watch for possible upgrade
      -- Current Rating: Aa2

   * $30,000,000 Class III Mezzanine Notes Due 2011

      -- Prior Rating: B2, on watch for possible upgrade
      -- Current Rating: B1

According to Moody's, the rating action is the result of significant pay
down of the Class I notes and improvement in credit quality of the
collateral.


EL PASO: Sells ANR Pipeline & 50% Great Lakes Stake to TransCanada
------------------------------------------------------------------
El Paso Corporation has sold ANR Pipeline Company, its Michigan storage
assets and its 50% interest in Great Lakes Gas Transmission to TransCanada
Corporation and TC PipeLines, LP for $4.135 billion, including the
assumption of $744 million of debt.  Because El Paso will utilize tax loss
carryovers in this transaction, the company expects its after-tax cash
proceeds to be roughly $3.3 billion.  In addition, El Paso expects to have
approximately $1 billion of tax loss carryovers remaining after the close.
Closing of the transaction is subject to customary conditions and
regulatory approvals, and is expected to occur during the first quarter of
2007.

"The sale of ANR Pipeline, our Michigan storage assets and our interest in
Great Lakes is a transformational event for El Paso," said Doug Foshee,
president and chief executive officer of El Paso.  "Coupled with the
restructuring efforts over the last three years, this transaction
immediately elevates our credit statistics to a level that is at or very
near an investment grade level, one of our primary long-term objectives.
We also preserve our earnings outlook and our position as North America's
largest interstate natural gas pipeline franchise with approximately
43,000 miles of pipelines."

In addition, the transaction will result in:

   -- A neutral to slightly positive impact on earnings per share

   -- An increase in the pipeline group long-term growth rate

   -- A clear benchmark for the value of El Paso's pipeline
      franchise

   -- Significantly improved balance sheet and financial
      flexibility

   -- The elimination of any discount on El Paso's common stock
      due to leverage

                          Future Strategy

Over the past three years, El Paso has successfully sold non-core assets
and narrowed its focus to its two core businesses -- interstate natural
gas pipelines and exploration & production.  The opportunities for natural
gas infrastructure development remain excellent.  The pipeline group has
more than $2 billion of committed projects in various stages of
development and is pursuing others.  El Paso's pipelines will become more
competitive as this transaction will reduce their cost of capital.  The
E&P business will continue with a balanced drilling program in its
Onshore, Texas Gulf Coast, Gulf of Mexico and International regions.  Both
core businesses will benefit from El Paso's improved financial flexibility
as the company will be much better equipped to respond to new
opportunities.  El Paso will provide more details on its 2007 plan at its
annual analyst meeting on Feb. 21, 2007.

Goldman Sachs & Co. acted as the financial advisor to El Paso on this
transaction.  Andrews Kurth LLP acted as legal counsel.

Headquartered in Houston, Texas, El Paso Corporation (NYSE:EP) --
http://www.elpaso.com/-- provides natural gas and related energy
products in a safe, efficient, and dependable manner.

                       *     *     *

As reported in the Troubled Company Reporter on Oct. 17, 2006,
Moody's Investors Service revised its corporate family rating on
El Paso Corporation to B2 in connection with its implementation of
the new Probability-of-Default and Loss-Given-Default rating
methodology for the broad energy midstream sector.


EPICEPT CORP: Cornell Capital Commits Up to $15 Mil. for Capital
----------------------------------------------------------------
EpiCept Corporation entered into a Standby Equity Distribution Agreement
with Cornell Capital Partners, LP.  Pursuant to this agreement, Cornell
Capital has committed to purchase up to $15,000,000 of shares of common
stock from EpiCept at a discount to be calculated at the time of issuance.
Cornell Capital Partners has committed to provide up to $15 million of
capital during the next three years through the purchase of newly issued
shares of EpiCept's common stock.  Under the terms of the agreement,
EpiCept will determine, at its sole discretion, the exact timing and
amount of any SEDA financings, subject to certain conditions.

"This SEDA offers EpiCept the flexibility to strategically fund our
business and clinical activities in a controlled manner at terms that we
believe are favorable to the Company and our shareholders in order to
advance several key milestones," said Jack V. Talley, Chief Executive
Officer of EpiCept.

The Standby Equity Distribution Agreement provides that EpiCept may, at
its sole option, require Cornell Capital Partners to purchase shares of
its common stock in increments of a minimum of $200,000 per week over a
period of 36 months once a resale registration statement covering the
subject shares of common stock is effective.  In connection with the SEDA,
EpiCept has agreed to pay Cornell Capital Partners a customary private
placement
commitment fee.

EpiCept has agreed to file a resale registration statement in
connection with the SEDA.  EpiCept intends to use the proceeds from the
SEDA to fund certain clinical trials and for general corporate purposes.

Headquartered in New Jersey, EpiCept Corp. (Nasdaq and OMX Stockholm:
EPCT) is an emerging pharmaceutical company focused on unmet needs in the
treatment of pain and cancer.  The company has a staged portfolio with
several pain therapies in late-stage clinical trials, and a lead oncology
compound (for AML) with demonstrated efficacy in a Phase III trial; the
compound is intended for commercialization in Europe.

At Sept. 30, 2006, the company's balance sheet showed a stockholders'
deficit of $15,653,827, compared to a deficit of $60,122,450 at Dec. 31,
2005.


EPIXTAR CORP: Exclusive Plan Filing Period Extended to January 29
-----------------------------------------------------------------
The U.S Bankruptcy Court for the Southern District of Florida extended
Epixtar Corp. and its debtor-affiliates’ exclusive period to file a
chapter 11 plan of reorganization until Jan. 29, 2007.  The Court also
extended the Debtors exclusive period to solicit acceptances of that plan
until Mar. 30, 2007.

The Debtors believe that the extension is warranted citing that it will
provide them the necessary time to negotiate, prepare and file a viable
plan of reorganization.  The Debtors also say that the size and complexity
of their cases warrant extension of their exclusive periods.

The Debtors tell the Court they are in negotiations with the Official
Committee of Unsecured Creditors regarding treatment that could be
afforded to the Committee under a proposed plan of reorganization.

In addition, the Debtors' affiliate in the Philippines is in the
process of filing the equivalent of a plan of reorganization,
which will contribute to their reorganization efforts.

The Debtors assure the Court that the extension is not to delay or
pressure creditors to agree a plan.

                         About Epixtar

Based in Miami, Florida, Epixtar Corp. fdba Global Assets
Holding Inc. -- http://www.epixtar.com/-- acquires or
establishes companies specialized in mass-market communication
products.  Epixtar operates through its subsidiaries, National
Online Services Inc. and One World Public.  Epixtar currently
maintains two contact centers in Manila, Philippines, with
developmental plans to expand to additional centers over the
next 24 months.  The Company and its debtor-affiliates filed for
Chapter 11 protection on October 6, 2005 (Bank. S.D. Fla. Case
No. 05-42040).  Michael D. Seese, Esq., at Kluger, Peretz,
Kaplan & Berlin, P.L., represents the Debtors in their
restructuring efforts.  Glenn D. Moses, Esq., at Genovese
Joblove & Battista, P.A., represents the Company's Official
Committee of Unsecured Creditors.  When the Debtors filed for
protection from their creditors, they listed total assets of
$30,376,521 and total debts of $39,158,724.


FEDERAL-MOGUL: Court Sustains Objection on Hill School's Claim
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware sustained the
objection of Federal-Mogul Corporation and its debtor affiliates to the
Hill School's Claim No. 4708 because its underlying claims against T&N
Limited were fully settled and released as a result of the T&N National
Schools Settlement Agreement.

The Hill School, a private high school in Pottstown, Pennsylvania, was a
member of a certified national class action, through which certain claims
were fully settled against T&N Limited.

The National Schools Class Action was filed in the U.S. District Court for
the Eastern District of Pennsylvania in 1983 on behalf of a purported
class comprised of all public and private elementary and secondary schools
in the U.S. asserting presence of asbestos-containing material on their
properties.  The Pennsylvania District Court certified the Class as an
opt-out class in 1984, and the certification was upheld by the U.S. Court
of Appeals for the Third Circuit in 1986.

The Hill School did not opt out of the class.

In 1991, T&N and certain duly authorized class representatives agreed to
settle the National Schools Class Action for $3,000,000.  The Pennsylvania
District Court subsequently approved the agreement, which provided T&N
with a general release of all claims relating to asbestos-related property
damage.

On Aug. 16, 2006, the Debtors sent a letter to Timothy D. Forester to
express their position that The Hill School's Claim No. 4708 should be
disallowed because its underlying claims had been released pursuant to the
T&N National Schools Settlement Agreement.  The Debtors asked whether The
Hill School disagreed with their position with respect to Claim No. 4708,
and advised the claimant to submit evidence, if any, that it did not opt
out of T&N's settlement in the National Schools Class Action.

Having received no response to the letter, the Debtors' counsel contacted
Mr. Forester on Sept. 14, 2006, and was informed that Mr. Forester had
received the Debtors' letter and that he had no information on the
National Schools Class Action or about whether or not The Hill School had
opted out of the Class.

The Debtors believe that The Hill School is deemed to have constructively
released all Claims against T&N and Federal-Mogul, including, but not
limited to, Claim No. 4708.

Furthermore, the Debtors note that the Hill School was not listed anywhere
on the official Opt-Out List for the National Schools Class Action.  The
Hill School, by failing to opt out of the Class, was bound by the terms
and conditions of the T&N National Schools Settlement Agreement.

Headquartered in Southfield, Michigan, Federal-Mogul Corporation
-- http://www.federal-mogul.com/-- is an automotive parts company with
worldwide revenue of some $6 billion.  The Company filed for chapter 11
protection on Oct. 1, 2001 (Bankr. Del. Case No.
01-10582).  Lawrence J. Nyhan Esq., James F. Conlan Esq., and Kevin T.
Lantry Esq., at Sidley Austin Brown & Wood, and Laura Davis Jones Esq., at
Pachulski, Stang, Ziehl, Young, Jones & Weintraub, P.C., represent the
Debtors in their restructuring efforts.  When the Debtors filed for
protection from their creditors, they listed $10.15 billion in assets and
$8.86 billion in liabilities.  Federal-Mogul Corp.'s U.K. affiliate,
Turner & Newall, is based at Dudley Hill, Bradford. Peter D. Wolfson,
Esq., at Sonnenschein Nath & Rosenthal; and Charlene D. Davis, Esq.,
Ashley B. Stitzer, Esq., and Eric M. Sutty, Esq., at The Bayard Firm
represent the Official Committee of Unsecured Creditors. (Federal-Mogul
Bankruptcy News, Issue No. 117; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


FIRSTLINE CORP: Judge Walker Expands Scope of Henderson’s Work
--------------------------------------------------------------
The Honorable James D. Walker, Jr., of the U.S. Bankruptcy Court
for the Middle District of Georgia in Valdosta authorized David W.
Cranshaw, the Chapter 11 Trustee of FirstLine Corporation, to
expand the scope of responsibilities of Henderson & Godbee, LLC, as his
accountant.

The firm will provide additional service to terminate the Debtor's 401(k)
Plan; and to obtain a determination letter from the Internal Revenue
Service.  The firm tells the Court that it will not audit the Debtor's
submitted data.

As reported in the Troubled Company Reporter on Sept. 20, 2006, Henderson
& Godbee is expected to:

   -- audit the Statement of Net Assets available for Benefits of
      the Firstline Corporation 401(k) Plan as of Dec. 31, 2005,
      and the related Statement of Changes in Net Assets
      available for Benefits with Fund Information;

   -- prepare the 2005 Federal corporate income tax return;

   -- prepare the 2005 Georgia corporate income tax returns.

Gerald H. Henderson, a partner at Henderson & Godbee, disclosed
that the Firm will receive a flat fee of $6,850 for its tax return
services.  For its audit services, the Firm will receive payment based on
actual time spent at the Firm's standard hourly rates, plus other
expenses, not to exceed $10,500.

The hourly rates of some of Henderson & Godbee's professionals
are:

         Professional                        Hourly Rate
         ------------                        -----------
         Gerald Henderson                        $180
         Wendell Godbee                          $180
         Mark Rogers                             $165
         Jim Godbee                              $165
         Maureen Collins                         $160
         Thad Hughes                             $155

The Chapter 11 Trustee believes that Henderson & Godbee represents no
adverse interest to the estate or the Debtor and is disinterested as that
term is defined in Section 101(14) of the Bankruptcy Code.

Mr. Henderson can be reached at:

     Gerald H. Henderson
     Henderson & Godbee LLC
     3488 North Valdosta Road
     Valdosta, GA 31602
     Tel: (229) 245-6040
     Fax: (229) 245-1669
     http://www.hgncpa.com/

Headquartered in Valdosta, Georgia, FirstLine Corporation --
http://www.firstlinecorp.com/-- supplies home-building and
construction materials.  The company filed for chapter 11
protection on Mar. 6, 2006 (Bankr. M.D. Ga. Case No. 06-70145).
Ward Stone, Jr., Esq., at Stone & Baxter, LLP, represents the
Debtor.  Todd C. Meyers, Esq., at Kilpatrick Stockton LLP
represent the Official Committee of Unsecured Creditors.  The
Court appointed David W. Cranshaw as the Debtor's Chapter 11
Trustee.  Morris, Manning & Martin, LLP, represents the Chapter 11
trustee.  As of Jan. 31, 2006, the Debtor reported assets totaling
$37,061,890 and debts totaling $26,481,670.


FORD MOTOR: In Talks with Toyota Execs Over Partnership Deals
-------------------------------------------------------------
Ford Motor Co. CEO Alan Mulally met with Toyota Motor Corp. chairman Fujio
Cho to discuss its first potential partnership deals, CNNMoney.com
reports.  Ford Executive VP Mark Fields also attended the meeting last
week.

According to the Japanese business daily newspaper Nihon Keizai Shimbun,
Ford expressed its interest in Toyota's hybrid and fuel-cell technologies
and its work in reducing manufacturing and parts procurement costs.

Ford Oscar Suris, in an interview with the Japanese newspaper, said that
the automaker would neither confirm nor deny the report.  Mr. Suris added
that the company officials are in talks with that matter.

Reports show that a Toyota Representative also refused to comment, saying
any remark would have to come from the company's headquarters in Japan.
However, the Japanese newspaper discloses that Toyota considered a
partnership with Ford as a way to ease potential friction with the U.S.
auto industry.

                      About Ford Motor Co.

Headquartered in Dearborn, Michigan, Ford Motor Company (NYSE: F)
-- http://www.ford.com/-- manufactures and distributes
automobiles in 200 markets across six continents.  With more than
324,000 employees worldwide, the company's core and affiliated
automotive brands include Aston Martin, Ford, Jaguar, Land Rover,
Lincoln, Mazda, Mercury and Volvo.  Its automotive-related
services include Ford Motor Credit Company and The Hertz
Corporation.

                           *     *     *

As reported in the Troubled Company Reporter on Dec. 12, 2006,
Standard & Poor's Ratings Services affirmed its 'B' bank loan and
'2' recovery ratings on Ford Motor Co. after the company increased
the size of its proposed senior secured credit facilities to
between $17.5 billion and $18.5 billion, up from $15 billion.

As reported in the Troubled Company Reporter on Dec. 7, 2006,
Fitch Ratings downgraded Ford Motor Company's senior unsecured
ratings to 'B-/RR5' from 'B/RR4' due to the increase in size of
both the secured facilities and the senior unsecured convertible
notes being offered.

As reported in the Troubled Company Reporter on Dec. 6, 2006,
Moody's Investors Service assigned a Caa1, LGD4, 62% rating to
Ford Motor Company's $3 billion of senior convertible notes due
2036.


FRONTIER OIL: Fitch Withdraws Senior Unsecured Notes' BB- Rating
----------------------------------------------------------------
Fitch has affirmed and simultaneously withdrawn these ratings for Frontier
Oil Corporation:

      -- Issuer Default Rating (IDR) 'BB-';
      -- Senior secured credit facility 'BB';
      -- Senior unsecured notes 'BB-'.

All of the debt ratings for this issuer are withdrawn.  Fitch will no
longer provide rating coverage of Frontier.


GABRIEL TECH: Posts $2.5 Mil. Net Loss in Quarter Ended Sept. 30
----------------------------------------------------------------
Gabriel Technologies Corp. reported a $2.5 million net loss on $478,759 of
revenues for the quarter ended Sept. 30, 2006, compared with a $700,898
net loss on $342,103 of revenues for the same period in 2005.

The increase in net loss during the period ended Sept. 30, 2006, was
mainly due to increased selling, office and general expenses, professional
fees attributed to being a publicly-owned company, and increased costs
associated with raising capital for the company.

Consolidated gross profit increased to 38.2% for the quarter ended Sept.
30, 2006, from 30.3% for the quarter ended Sept. 30, 2005.  This increase
is attributed to increased focus on sales of products with higher demand
and higher margins.

At Sept. 30, 2006, the company's balance sheet showed
$19.3 million in total stockholders' equity, $6.8 million in total
liabilities, and $12.5 million in total stockholders' equity.

The company's balance sheet at Sept. 30, 2006, also showed strained
liquidity with $2.2 million in current assets available to pay $6.4
million in total current liabilities.

Full-text copies of the company's consolidated financial statements for
the quarter ended Sept. 30, 2006, are available for free at
http://researcharchives.com/t/s?1794

                        Going Concern Doubt

Williams & Webster, PS, in Spokane, Washington, expressed
substantial doubt about Gabriel Technologies Corp.'s ability to
continue as a going concern after auditing the company's
consolidated financial statements for the fiscal year ended June
30, 2006.  The auditing firm pointed to the company's significant
operating losses and accumulated deficit at June 30, 2006.

                     About Gabriel Technologies

Based in Omaha, Nebraska, Gabriel Technologies Corporation (OTC:
GWLK) -- http://www.gabrieltechnologies.com/-- sells locking
systems for truck trailers, railcars, and intermodal shipping
containers under the WAR-LOK brand name.  Its products are
manufactured by contractors and distributed from Gabriel's
assembly center.  Gabriel also offers Trace Location Services, an
asset-tracking system for vehicle fleet operators that is based on
the Global Positioning System (GPS).  The trucking industry
accounts for more than 85% of the company's sales.  Gabriel added
biometric technology to its product mix in 2006 by acquiring a
majority stake in Resilent, an Omaha, Nebraska-based company that
does business as Digital Defense Group.

Gabriel Technologies Corporation is the holding company for two
wholly-owned subsidiaries and one majority owned subsidiary.  The
company was originally incorporated in 1990 as Princeton Video
Image, Inc., a Delaware corporation.  In 2004, Princeton Video
Image, Inc. filed for chapter 11 bankruptcy and emerged as a
reorganized company on June 10, 2004.  On July 23, 2004, the
company changed its name to Gabriel Technologies Corporation.  On
July 29, 2004, the company entered into a share exchange with
Gabriel Technologies LLC, a Nebraska limited liability company,
which became the company's wholly-owned subsidiary.  The company
also organized Trace Technologies LLC, a Nevada limited liability
company which became wholly-owned on Nov. 19, 2004.


GLOBAL POWER: Committee Hires Chanin Capital as Financial Advisors
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware allowed the
Official Committee of Unsecured Creditors appointed in Global Power
Equipment Group Inc. and its debtor-affiliates' chapter 11 cases, to
retain Chanin Capital Partners as its financial advisors.

Chanin Capital will:

   a) review and analyze the Debtors' operations, financial
      condition, business plan, strategy, and operating forecasts;

   b) analyze any merger, divestiture, joint-venture, or
      investment transaction;

   c) assist in the determination of an appropriate go-forward
      capital structure for the Debtors;

   d) assist the Committee in developing, evaluating, structuring
      and negotiating the terms and conditions of a restructuring
      or reorganization plan, including the value of the
      securities, if any, that may be issued to the Committee
      under any restructuring or plan;

   e) provide testimony, as necessary, before the Bankruptcy
      Court; and

   f) provide the Committee with other appropriate general
      restructuring advice and litigation support.

Brent Williams, a Chanin Capitals managing partner, discloses that his
firm will charge the Committee at a standard flat monthly rate of $75,000.

Mr. Williams assures the Court that his firm does not hold any interest
adverse to the Debtors or their estates.

Headquartered in Tulsa, Oklahoma, Global Power Equipment Group
Inc. aka GEEG Inc. -- http://www.globalpower.com/-- provides
power generation equipment and maintenance services for its
customers in the domestic and international energy, power and
infrastructure and service industries.  The Company designs,
engineers and manufactures a range of heat recovery and auxiliary
equipment primarily used to enhance the efficiency and facilitate
the operation of gas turbine power plants as well as for other
industrial and power-related applications.  The Company has
facilities in Plymouth, Minnesota; Tulsa, Oklahoma; Auburn,
Massachusetts; Atlanta, Georgia; Monterrey, Mexico; Shanghai,
China; Nanjing, China; and Heerleen, The Netherlands.

The Company and 10 of its affiliates filed for chapter 11
protection on Sept. 28, 2006 (Bankr. D. Del. Case No 06-11045).
Attorneys at White & Case LLP and The Bayard Firm, P.A., represent
the Debtors.  The Official Committee of Unsecured Creditors
appointed in the Debtors' cases has selected Landis Rath & Cobb
LLP as its counsel.  As of Sept. 30, 2005, the Debtors reported
total assets of $381,131,000 and total debts of $123,221,000.  The
Debtors' exclusive period to filed a chapter 11 plan expires on
Jan. 26, 2007.


GLOBAL POWER: U.S. Trustee Appoints Three-Member Equity Committee
-----------------------------------------------------------------
Kelly Beaudin Stapleton, the United States Trustee for Region 3 appointed
three creditors to serve on an Official Committee of Equity Security
Holders of Global Power Equipment Group Inc. and its debtor-affiliates'
chapter 11 cases:

   1. PPM America Private Equity Fund, L.P.
      Attn: Patrick John Lanigan
      225 W. Wacker, Suite 1200
      Chicago, IL 60606
      Tel: (312) 634-2559
      Fax: (312) 634-0728;

   2. Zesiger Capital Group LLC
      Attn: Robert K. Winters
      320 Park Avenue
      New York, NY 10022
      Tel: (212) 508-6300
      Fax: (212) 508-6329

   3. Frank E. Williams, Jr.
      P.O. Box 4004
      Merrifield, VA 22116
      Tel: (703) 641-4612
      Fax: (703) 641-9082

Headquartered in Tulsa, Oklahoma, Global Power Equipment Group
Inc. aka GEEG Inc. -- http://www.globalpower.com/-- provides
power generation equipment and maintenance services for its
customers in the domestic and international energy, power and
infrastructure and service industries.  The Company designs,
engineers and manufactures a range of heat recovery and auxiliary
equipment primarily used to enhance the efficiency and facilitate
the operation of gas turbine power plants as well as for other
industrial and power-related applications.  The Company has
facilities in Plymouth, Minnesota; Tulsa, Oklahoma; Auburn,
Massachusetts; Atlanta, Georgia; Monterrey, Mexico; Shanghai,
China; Nanjing, China; and Heerleen, The Netherlands.

The Company and 10 of its affiliates filed for chapter 11
protection on Sept. 28, 2006 (Bankr. D. Del. Case No 06-11045).
Attorneys at White & Case LLP and The Bayard Firm, P.A., represent
the Debtors.  The Official Committee of Unsecured Creditors
appointed in the Debtors' cases has selected Landis Rath & Cobb
LLP as its counsel.  As of Sept. 30, 2005, the Debtors reported
total assets of $381,131,000 and total debts of $123,221,000.  The
Debtors' exclusive period to filed a chapter 11 plan expires on
Jan. 26, 2007.


GRANITE BROADCASTING: Meeting of Creditors Slated for January 16
----------------------------------------------------------------
The U.S. Trustee for Region 2 will convene a meeting of Granite
Broadcasting Corporation, WXON, Inc., WXON License, Inc., KBWB, Inc., KBWB
License, Inc., and WEEK-TV License, Inc.'s creditors at 2:00 p.m., Jan.
16, 2007, at 80 Broad Street, 2nd floor in New York.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy proceeding
for creditors to question a responsible officer of the Debtor under oath
about the company's financial affairs and operations that would be of
interest to the general body of creditors.

Headquartered in New York, Granite Broadcasting Corp.
-- http://www.granitetv.com/-- owns and operates, or provides
programming, sales and other services to 23 channels in 11
markets: San Francisco, California; Detroit, Michigan; Buffalo,
New York; Fresno, California; Syracuse, New York; Fort Wayne,
Indiana; Peoria, Illinois; Duluth, Minnesota-Superior, Wisconsin;
Binghamton, New York; Utica, New York and Elmira, New York.  The
company's channel group includes affiliates of NBC, CBS, ABC, CW
and My Network TV, and reaches approximately 6% of all U.S.
television households.

The Company and five of its debtor-affiliates filed for
chapter 11 protection on Dec. 11, 2006 (Bankr. S.D. N.Y. Case
No. 06-12984).  Ira S. Dizengoff, Esq., at Akin, Gump, Strauss,
Hauer & Feld, LLP, represents the Debtors in its restructuring
efforts.  When the Debtor filed for protection from its creditors, it
estimated assets of $443,563,020 and debts of $641,100,000.


GREENSTONE RESOURCES: Court Grants Two Orders Under CCAA and CBCA
-----------------------------------------------------------------
The Ontario Superior Court of Justice granted, on Dec. 14, 2006, two
orders in connection with the reorganization of Greenstone Resources Ltd.
pursuant to the Companies' Creditors Arrangement Act (Canada) and Canada
Business Corporations Act (Canada).

Both orders were obtained by Shimmerman Penn Title & Associates Inc., in
its capacity as trustee of the bankruptcy estate of Greenstone Resources,
in accordance with an order made by the Court on Dec. 1, 2006 authorizing
and directing the Trustee to the take the steps required to reorganize the
company pursuant to a common plan of compromise and arrangement made under
both the CCAA and the CBCA.

The Dec. 14, 2006 order made by the Court under the CCAA:

   (a) authorizes the Trustee to present a plan of compromise or
       arrangement to the company's creditors;

   (b) authorizes the Trustee to terminate or repudiate agreements
       entered into by the company including warrants or options
       exchangeable for shares of the company;

   (c) authorizes and directs the trustee to provide notice of the
       Plan to the company's creditors by publishing two notices
       in The Globe and Mail (National Edition) and sending an
       information package containing information with respect to
       the Plan to all of the known creditors of the company and
       any other creditor who requests such information package;

   (d) establishes a procedure for the company's creditors to
       prove their claims against the company; and

   (e) establishes the date and location for the holding of a
       meeting of the company's creditors to consider the Plan.

The Meeting will be held at 10:00 a.m. (Toronto time) on Jan. 25, 2007 at
Suite 1600, 1 First Canadian Place, 100 King Street West, Toronto,
Ontario.  If the required majority of the Company's creditors present and
voting at the Meeting accept the Plan, the Trustee is required to bring a
motion to the Court seeking an order sanctioning the Plan under the CCAA
on Jan. 30, 2007.

The Dec. 14, 2006 order made by the Court under the CBCA:

   (a) declares the Plan to be a plan of arrangement under the
       CBCA as well as the CCAA;

   (b) orders that no holder of the shares of the company or
       persons holding options or rights to acquire shares of the
       company are entitled to notice of the Plan or any
       application or motion to approve the Plan, other than as
       provided in the Authorization Order;

   (c) orders that no meeting of the shareholders of the company
       or of the holders of options or rights to acquire shares of
       the company need be held with respect to the Plan; and

   (d) orders that a motion to the Court seeking an order
       sanctioning and approving the Plan under the CBCA shall be
       heard at the same time as the motion seeking to sanction
       the Plan under the CCAA.

The Authorization Order authorized and directed the Trustee to deliver to
the registered shareholders of the company certain information in relation
to the proceedings.

The Trustee has published the required notices in The Globe and Mail and
is in the process of mailing information packages to the creditors and
registered shareholders of the company.

A full-text copy of the Interim Order under the CBCA in connection with
the company's Plan of Arrangement is available for free at
http://ResearchArchives.com/t/s?17a5

A full-text copy of the Initial Order Under the CCAA in connection with
the company's Plan of Compromise is available for free at
http://ResearchArchives.com/t/s?17a6

Headquartered in Toronto, Ontario, Greenstone Resources Ltd.
(Nasdaq:GRERF.PK) owns gold operations, located in these countries:
Honduras, Nicaragua.


GRUPO MEXICO: Fitch Lifts Issuer Default Rating to BB+ from BB
--------------------------------------------------------------
Fitch has upgraded the local and foreign currency Issuer Default Rating
assigned to Grupo Mexico, S.A. de C. V. to 'BB+' from 'BB'.  The Rating
Outlook is Stable.

In conjunction with this rating action, Fitch has upgraded the IDR of
Americas Mining Corporation to 'BB+' from 'BB'.  The Rating Outlook is
Stable.  AMC, incorporated in Delaware, is a wholly owned subsidiary of
Grupo Mexico and is the direct parent company of Southern Copper
Corporation.

Fitch affirms the local and foreign currency IDRs of 'BBB-' for SCC and
Grupo Ferroviario Mexicano, S.A. de C.V.

Grupo Mexico's upgrade to 'BB+' reflects the improving credit profile of
the company on a consolidated basis and the strength of its two main
operating subsidiaries, SCC and GFM.  The rating considers the company's
position as a holding company with no operating assets but the ability to
receive dividends from its copper mining holding company AMC and its
railway subsidiary, GFM, which account for about 90% and 10% respectively
of Grupo Mexico's consolidated EBITDA in 2006.

AMC's upgrade to 'BB+' reflects the company's position as a holding
company with no operating assets but the ability to receive dividends from
copper producer SCC.  SCC's local and foreign currency IDRs are 'BBB-'.
In the first nine months of 2006, SCC paid dividends of $1.1 billion and
continues to maintain a solid investment grade credit profile with total
debt-to-EBITDA of about 0.5 times (x).  The company has benefited from
excess cash flow from extraordinarily high copper prices to strengthen its
financial profile.  Copper prices have averaged more than $3 per pound in
2006, compared with $1.67/lb. And $1.30/lb. respectively in 2005 and 2004.

As of Sep. 30, 2006, Grupo Mexico had consolidated debt of
$2.1 billion, approximately $1.5 billion of which is at the SCC level and
$450 million at GFM.  While no debt is held at the Grupo Mexico holding
company level, the company, continues to guarantee a $50 million note
obligation of AMC held by a trust for the benefit of Asarco Inc.  AMC also
has a 39 million note  due to Asarco Inc.  In 2006, Grupo Mexico's
consolidated EBITDA is expected to total more than $3 billion resulting in
a ratio of total debt-to-EBITDA of about 0.6 times (x), an improvement
from 1.3x at the end of 2004.

GFM's 'BBB-' local and foreign currency ratings are supported by the
company's solid competitive position, strong cash flows and modest
leverage.  Due to successful efforts to improve efficiencies and gain
market share in a highly competitive operating environment, GFM's revenues
and load volumes increased approximately 26% and 15% respectively during
the first nine months of 2006 compared with the same period in 2005.

For the full year 2006, Fitch expects GFM to generate revenues of
approximately $900 million and EBITDA of nearly $300 million, or about 20%
higher than in 2005, resulting in total debt-to-EBITDA ratio of close to
2.2x.  The level of total debt at GFM of approximately $630 million
(including about $180 million for non-cancelable operating leases) is
expected to remain fairly stable for the intermediate-term.

Grupo Mexico, through its subsidiary AMC, owns 75.1% of SCC.  SCC is one
of the world's largest private-sector copper producers and exporters and
owns 100% of Mexico's largest copper producer, Minera Mexico.  Although
SCC is incorporated under Delaware law, the company's mines and plants are
located in Mexico and Peru. Operations in Peru consist of two large-scale,
open-pit, copper mining units, Toquepala and Cuajone, along with
integrated smelting and refining facilities in the port town of Ilo.
Minera Mexico's principal copper mining and production facilities,
Mexicana de Cobre and Mexicana de Cananea, are located in northern Mexico
and include primarily two open-pit copper mines, a smelter and a refinery.
In 2005, SCC and Minera Mexico together produced 689,929 tons (1.5
billion pounds) of mined copper.  The company is owned directly or through
subsidiaries by Grupo Mexico (75.1%) and common shareholders (24.9%).

In addition to mining, Grupo Mexico operates a major railway in Mexico
under its GFM subsidiary.  The Ferrocarril Mexicano, S.A. de C.V. railway
connects Mexico's major cities and seaports and has five points of
connection along the U.S border.


GSC PARTNERS: Moody's Puts Ratings on Watch and May Upgrade
-----------------------------------------------------------
Moody's Investors Service placed these notes issued by GSC Partners CDO
Fund, Limited on watch for possible upgrade:

   * $12,000,000 Class II Mezzanine Secured Fixed Rate Notes Due
     2012

      -- Prior Rating: B1
      -- Current Rating: B1, on watch for possible upgrade

   * $5,500,000 Class III-A Mezzanine Secured Floating Rate Notes
     Due 2012

      -- Prior Rating: Caa1
      -- Current Rating: Caa1, on watch for possible upgrade

   * $11,000,000 Class III-B Mezzanine Secured Fixed Rate Notes
     Due 2012

      -- Prior Rating: Caa1
      -- Current Rating: Caa1, on watch for possible upgrade

According to Moody's, the rating action is the result of significant pay
down of the Class I-A Notes, repayment of the Class III deferred interest
amounts and improvement in the coverage tests.


HALCYON SECURITIZED: Moody's Rates Class E Senior Notes at Ba1
--------------------------------------------------------------
Moody's Investors Service assigned ratings to notes issued by Halcyon
Securitized Products Investors ABS CDO I Ltd.

These ratings were assigned:

   -- Aaa to Class A-1 Senior Secured Floating Rate Notes, due
      2050;

   -- Aaa to Class A-2 Senior Secured Floating Rate Notes, due
      2050;

   -- Aa2 to Class B Senior Secured Floating Rate Notes, due
      2050;

   -- A2 to Class C Senior Secured Deferrable Interest Floating
      Rate Notes, due 2050;

   -- Baa2 to Class D Senior Secured Deferrable Interest Floating
      Rate Notes, due 2050 and

   -- Ba1 to Class E Senior Secured Deferrable Interest Floating
      Rate Notes, due 2050.

Moody's ratings address the ultimate cash receipt of all required interest
and principal payments as provided by the governing documents, and are
based on the expected loss posed to the noteholders relative to the
promise of receiving the present value of such payments.  These ratings
are based upon Moody's review of the risk of diminishment of cash flow
from the underlying assets due to defaults, the safety of the
transaction's legal structure, and the characteristics of the underlying
assets.

Moody's will publish timely notice of the ratings, including any downgrade
or watchlisting for possible downgrade, in accordance with Moody's
standard practice at the time.

The transaction is structured as a hybrid ABS cash-flow collateralized
debt obligation.  Halcyon Securitized Products Investors, L.P. will manage
the selection, acquisition and disposition of collateral on behalf of the
Issuer.


HERBALIFE LTD: Earns $26 Million in Quarter Ended September 30
--------------------------------------------------------------
Herbalife Ltd. reported net income of $26,467,000 on $476,374,000 of total
revenues for the quarter ended Sept. 30, 2006, compared to a net income of
$27,137,000 on $400,997,000 of total revenues for the same period in 2005.

For the quarter ended Sept. 30, 2006, net sales increased by 18.8%,
compared to the same periods in 2005, primarily due to sales increases in
North America, Mexico and Central America, and Brazil.  Net sales in the
European, Middle East, Africa, and North Asian regions decreased for the
three months ended Sept. 30, 2006 when compared to the same prior year
period.  The overall increase in net sales for this quarter reflects the
continued sales momentum generated from the successful promotions in 2005
and 2006, the company explains.

Net income decreased for the three months ended Sept. 30, 2006 to $26.5
million, from $27.1 million for the same period in 2005. Net income
includes the impact of:

   -- a $14.3 million recapitalization expenses in connection
      with the repayment of the company's $225 million senior
      secured credit facility, originally entered into on
      Dec. 21, 2004, and its 91/2% Notes due 2011;

   -- a $2.7 million additional tax benefit from refinancing
      transactions in the third quarter of 2006; and

   -- a $2.5 million relating to a change in the allowance for
      uncollectible royalty overrides receivables from
      distributors in the third quarter of 2005.

For the three months ended Sept. 30, 2006 as compared to the same period
in 2005, net sales growth and a lower effective tax rate, partially offset
by higher labor costs, and promotional expenses and professional fees had
a net favorable impact to net income.

At Sept. 30, 2006, the company's balance sheet showed $937,644,000 in
total assets, $638,299,000 in total liabilities, and $299,345,000 in
stockholders' equity, compared to a $168,888,000 stockholders' equity at
Dec. 31, 2005.

A full-text copy of the company's financial statements for the quarterly
period ended Sept. 30, 2006, is available for free at

              http://researcharchives.com/t/s?178a

                      About Herbalife Ltd.

Based in Los Angeles, California, Herbalife Ltd. (NYSE: HLF) --
http://www.herbalife.com/-- is a marketing company that sells
weight-management, nutritional supplements and personal care products
intended to support a healthy lifestyle.  Herbalife products are sold in
62 countries through a network of more than one million independent
distributors.  The company supports the Herbalife Family Foundation --
http://www.herbalifefamily.org/-- and its Casa Herbalife program to bring
good nutrition to children.

                         *     *     *

Standard & Poor's Ratings Services rated Herbalife Ltd.'s long-
term foreign and local issuer credit ratings at BB+.


HOUSING AUTHORITY: Moody's Withdraws Revenue Bonds’ B2 Rating
-------------------------------------------------------------
Moody's Investors Service withdrew the B2 rating for The Housing Authority
of the City of Dallas, Georgia, Revenue Bonds Series 2002A and Series
2002B.

The project was sold through foreclosure in Paulding County, Georgia on
November 7, 2006.  The winning bid for the project was $12.7 million from
Canyon Creek Development, Inc., an affiliate of Southwest Management.
Canyon Creek paid the bid price in full on November 7, 2006, and on Dec.
4, 2006, the trustee distributed approximately $11.4 million of such
proceeds to all of the bondholders of record as of Nov. 30, 2006.

All Series 2002A and 2002B bondholders received 100% of the principal of
the outstanding bonds plus accrued interest, which distribution rate
ranged from 2.01% to 2.85%.  Bondholders of the subordinated bonds, Series
2002C which Moody's did not rate, received 64.6% of the principal with
accrued interest at the distribution rate of 15.4%.  The remainder of the
sale proceeds has been distributed to pay the lender for their fees and
expenses, the broker for the foreclosure sale, and the trustee for their
fees and expenses.  The lender is also retaining $410,314 in anticipation
of additional fees and costs related an ongoing litigation with the
general contractor for the construction of the project.


IMMUNE RESPONSE: Completes One-for-100 Reverse Stock Split
---------------------------------------------------------
The Immune Response Corporation's common stock is trading under the symbol
"IMRP" effective Dec. 20, 2006 as a result of its approved one-for-100
reverse stock split.  Also effective on
Dec. 20, 2006, the company's publicly traded "Class B" warrants will trade
under the symbol "IMRPZ."

As reported in the Troubled Company Reporter on Dec. 12, 2006,
on a pre-split basis, the company disclosed that it has approximately 900
million basic shares of common stock outstanding
as of the end of trading on Dec. 4, 2006.  The reverse stock split
would combine 100 shares of common stock into one share of common
stock and the total number of basic shares outstanding would be
reduced to approximately 9 million.

"Next year has the potential to be a landmark year for our company as the
strategic plan we implemented at the outset of 2006 continues to bear
important results," said Dr. Joseph O'Neill, President and CEO.
"Completing this planned reverse split is a key enabling step in realizing
shareholder value from the clinical and scientific progress we have made
with our multiple sclerosis as well as our HIV/AIDS program.  These
programs potentially offer important clinical advances that could benefit
millions of patients around the world and position our products as leaders
in the multi-billion dollar MS and HIV markets.  Normalizing our share
price and restructuring the capitalization of our company is intended to
enhance our visibility in the marketplace, make us more attractive to the
broader investor and analyst community as well as position us to seek a
listing for our common shares on one of the major stock exchanges or
marketplaces.  I firmly believe that Immune Response has the strategy,
science, people and,
now, the capital structure in place to deliver significant upside to our
shareholders."

Headquartered in Carlsbad, California, The Immune Response
Corporation (OTCBB:IMNR) -- http://www.imnr.com/-- is an immuno-
pharmaceutical company focused on developing products to treat
autoimmune and infectious diseases.  The Company's lead immune-
based therapeutic product candidates are NeuroVax(TM) for the
treatment of multiple sclerosis and IR103 for the treatment of
Human Immunodeficiency Virus infection.  Both of these therapies
are in Phase II clinical development and are designed to stimulate
pathogen-specific immune responses aimed at slowing or halting the
rate of disease progression.

                        Going Concern Doubt

As reported in the Troubled Company Reporter on June 8, 2006,
Levitz, Zacks & Ciceric expressed substantial doubt about The
Immune Response's ability to continue as a going concern after
auditing the company's financial statements for the years ended
Dec. 31, 2005 and 2004.  The auditing firm pointed to the
Company's stockholders' deficit and comprehensive loss for each of
the years in the two-year period ended Dec. 31, 2005.


J & M BEAR: Case Summary & 7 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: J & M Bear Creek Trucking, Inc.
        dba Rolling Rock
        5380 County Road 45
        Auburn, IN 46706

Bankruptcy Case No.: 06-12335

Chapter 11 Petition Date: December 15, 2006

Court: Northern District of Indiana (Fort Wayne Division)

Judge: Robert E. Grant

Debtor’s Counsel: Scot T. Skekloff, Esq.
                  Skekloff, Adelsperger & Kleven, LLP
                  927 South Harrison Street
                  Fort Wayne, IN 46802
                  Tel: (260) 407-7000
                  Fax: (260)407-7137

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor’s 7 Largest Unsecured Creditors:

   Entity                                 Claim Amount
   ------                                 ------------
   Stone Street Quarries                      $998,000
   5536 Hoagland Road
   Hoagland, IN 46745

   Garrett State Bank                         $749,880
   120 West King Street
   Garrett, IN 46738

   Hixson Sand & Gravel                        $26,283
   6178 Co. Rd. 7
   Garrett, IN 46748

   Farm Bureau Insurance                       $13,365

   Mcintosh Energy                              $4,579

   Eilbacher Fletcher                           $4,351

   North Central Co-op                          $1,791


J.P. MORGAN: Fitch Places Low-B Ratings on Six Certificate Classes
------------------------------------------------------------------
J.P. Morgan Chase Commercial Mortgage Securities Trust 2006-LDP9
commercial mortgage pass-through certificates are rated by Fitch Ratings:

      -- $57,529,000 class A-1 'AAA';
      -- $139,777,000 class A-2 'AAA';
      -- $1,652,984,000 class A-3 'AAA';
      -- $697,664,000 class A-1A 'AAA';
      -- $363,993,000 class A-M 'AAA';
      -- $318,494,000 class A-J 'AAA';
      -- $72,799,000 class B 'AA';
      -- $22,750,000 class C 'AA-';
      -- $50,049,000 class D 'A';
      -- $4,854,254,295 class X 'AAA'
      -- $129,741,000 class A-1S 'AAA';
      -- $375,000,000 class A-2S 'AAA';
      -- $200,000,000 class A-2SFL 'AAA';
      -- $145,282,000 class A-3SFL 'AAA';
      -- $121,432,000 class A-MS 'AAA';
      -- $106,253,000 class A-JS 'AAA';
      -- $24,287,000 class B-S 'AA';
      -- $7,589,000 class C-S 'AA-';
      -- $16,697,000 class D-S 'A';
      -- $40,949,000 class E 'A-';
      -- $40,949,000 class F 'BBB+';
      -- $36,399,000 class G 'BBB';
      -- $45,500,000 class H 'BBB-';
      -- $13,661,000 class E-S 'A-';
      -- $13,661,000 class F-S 'BBB+';
      -- $12,144,000 class G-S 'BBB';
      -- $15,179,000 class H-S 'BBB-';
      -- $18,203,000 class J 'BB+';
      -- $18,204,000 class K 'BB';
      -- $12,135,000 class L 'BB-';
      -- $12,136,000 class M 'B+';
      -- $6,068,000 class N 'B';
      -- $12,135,000 class P 'B-'.

The $54,611,295 class NR is not rated by Fitch.

Classes A-1, A-2, A-3, A-1A, A-M, A-J, B, C, D, A-1S, A-2S, A-2SFL,
A-3SFL, A-MS, A-JS, B-S, C-S, and D-S are offered publicly, while classes,
X, E, F, G, H, E-S, F-S, G-S, H-S, J, K, L, M, N, and Pare privately
placed pursuant to rule 144A of the Securities Act of 1933.  The
certificates represent beneficial ownership interest in the trust, primary
assets of which are 273 fixed rate loans having an aggregate principal
balance of approximately $4,854,254,296, as of the cutoff date.


JOSEPH KEYS: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Joseph E. Keys
        Sheila C. Keys
        18609 Clinton Road
        Paris, IL 61944

Bankruptcy Case No.: 06-91323

Type of Business: The Debtor operates Don Keys Fertilizer Sales,
                  an agricultural chemicals and fertilizers
                  retailer.

Chapter 11 Petition Date: December 8, 2006

Court: Central District of Illinois (Danville)

Judge: Gerald D. Fines

Debtor’s Counsel: Steve Miller, Esq.
                  Acton & Snyder, LLP
                  11 East North Street
                  Danville, IL 61832
                  Tel: (217) 442-0350

Total Assets: $771,375

Total Debts:  $1,381,123

Debtor’s 20 Largest Unsecured Creditors:

   Entity                     Nature of Claim       Claim Amount
   ------                     ---------------       ------------
United Suppliers, Inc.        Don Keys                  $382,858
P.O. Box 538                  Fertilizer
Eldora, IA 50627

Wells Fargo/Payment Center    Don Keys Fertilizer        $74,446
P.O. Box 54349
Los Angeles, CA 90054

Lanman Oil Co., Inc.          Don Keys Fertilizer        $34,711
P.O. Box 108
Charleston, IL

Scott Oil                     Keys Manufacturing         $18,638
859 Elm Street
P.O. Box 385
Clinton, IN 46842

Cardmember Service            Don Keys Fertilizer        $18,469
P.O. Box 790408
St. Louis, MO 63179

Amerigas Propane L.P.         Keys Manufacturing         $17,500
Dept CH 10128
Palatine, IL 60055

Propane Transport Int’l       Don Keys Fertilizer        $17,500
13105 Northwest Freeway
Ste. 500
Houston, TX 77040

Citi Cards                    Don Keys Fertilizer        $16,592
P.O. Box 668917
Des Moines, IA 50368

Farm Plan                     Don Keys Fertilizer        $15,773
P.O. Box 4450
Carol Stream, IL 60197

CNH Capitol                   Don Keys Fertilizer        $13,237
Dept. CH 10460
Palatine, IL 60055

Edgar County Bank & Trust     Bank loan                  $11,646
177 W. Wood Street
P.O. Box 400
Paris, IL 61944

Cardmember Service            Don Keys Fertilizer         $9,317
P.O. Box 790408
St. Louis, MO 63179

Edgar County Bank & Trust                                 $9,294
177 W. Wood Street
P.O. Box 400
Paris, IL 61944

Capital One Auto Finance      Bank loan                   $8,336
P.O. Box 260848
Plano, TX 75026

Cardmember Service            Don Keys Fertilizer         $7,548
P.O. Box 790408
St. Louis, MO 63179

Dimond Bros Insurance Agency  Don Keys Fertilizer         $6,360
111 Sherriff Street
Paris, IL 61944

Industrial Supply Company     Keys Manufacturing          $6,307
322-328 North 9th Street
P.O. Box 179
Terre Haute, IN 47808

Cardmember Service                                        $5,886
P.O. Box 790408
St. Louis, MO 63179

Inter-American Products       Keys Manufacturing          $3,000
P.O. Box 640501
Cincinnati, OH 45264

Art Reese                     Don Keys Fertilizer         $2,765
504 E. Edgar
P.O. Box 504
Paris, IL 61944


KEFTON CDO: Moody's Rates $8 Million Class VII Notes at Ba1
-----------------------------------------------------------
Moody's Investors Service assigned these ratings to Notes issued by Kefton
CDO I, Ltd.:

   -- Aaa to $67,000,000 Class II Senior Floating Rate Notes Due
      January 2047;

   -- Aa2 to $70,000,000 Class III Senior Floating Rate Notes Due
      January 2047;

   -- Aa3 to $14,500,000 Class IV Senior Floating Rate
      Notes Due January 2047;

   -- A2 to $27,000,000 Class V Mezzanine Floating Rate
      Deferrable Notes Due January 2047;

   -- Baa2 to $24,000,000 Class VI Mezzanine Floating
      Rate Deferrable Notes Due January 2047; and,

   -- Ba1 to $8,000,000 Class VII Mezzanine Floating Rate
      Deferrable Notes Due January 2047.

The Moody's ratings of the Notes address the ultimate cash receipt of all
required interest and principal payments, as provided by the Notes'
governing documents, and are based on the expected loss posed to
Noteholders, relative to the promise of receiving the present value of
such payments.

The ratings reflect the risks due to the diminishment of cash flow from
the underlying portfolio consisting of primarily credit default swaps of
RMBS Securities, CMBS Securities, ABS Securities and CDO Securities due to
defaults, the transaction's legal structure and the characteristics of the
underlying assets.

Terwin Money Management LLC, a subsidiary of Terwin Holdings LLC, d/b/a
The Winter Group, will manage the selection, acquisition and disposition
of collateral on behalf of the Issuer.


LB COMMERCIAL: Moody's Holds Junk Rating on Two Class Certificates
------------------------------------------------------------------
Moody's Investors Service upgraded the rating of five classes and affirmed
the ratings of 10 classes of LB Commercial Mortgage Trust 1999-C2,
Commercial Mortgage Pass-Through Certificates, Series 1999-C2:

   -- Class A-1, $7,020,411, Fixed, affirmed at Aaa
   -- Class A-2, $450,024,000, Fixed, affirmed at Aaa
   -- Class X, Notional, affirmed at Aaa
   -- Class B, $37,928,000, Fixed, affirmed at Aaa
   -- Class C, $37,929,000, Fixed, upgraded to Aaa from Aa3
   -- Class D, $13,386,000, Fixed, upgraded to Aa1 fromA1
   -- Class E, $23,427,000, Fixed, upgraded to A1 from A3
   -- Class F, $12,271,000, Fixed, upgraded to A3 from Baa2
   -- Class G, $11,155,000, Fixed, upgraded to Baa3 from Ba1
   -- Class H, $17,849,000, Fixed, affirmed at Ba2
   -- Class J, $4,462,000, Fixed, affirmed at Ba3
   -- Class K, $7,586,000, Fixed, affirmed at B1
   -- Class L, $9,816,000, Fixed, affirmed at B2
   -- Class M, $2,678,000, Fixed, affirmed at Caa1
   -- Class N, $2,230,000, Fixed, affirmed at Caa3

As of the Dec. 15, 2006 distribution date, the transaction's aggregate
certificate balance has decreased by approximately 28.0% to $642.6 million
from $892.4 million at securitization. The Certificates are collateralized
by 106 loans ranging in size from less than 1.0% to 20.6% of the pool with
the top 10 loans representing 52.7% of the pool.  The pool includes two
investment grade large loans, a conduit component and a credit tenant
lease component.  Nineteen loans, representing 15.7% of the pool, have
defeased and are securitized by U.S. Government securities.

Five loans have been liquidated from the pool resulting in aggregate
realized losses of approximately $1.8 million.

Four loans, representing 1.6% of the pool, are in special servicing.
Moody's has estimated aggregate losses of approximately $3 million for all
of the specially serviced loans.

Thirty loans, representing 15.7% of the pool, are on the master servicer's
watchlist.

Moody's was provided with year-end 2005 and partial year 2006 operating
results for 98% and 42%, respectively, of the pool. Moody's weighted
average loan to value ratio for the conduit component is 81.3%, compared
to 83.1% at Moody's last full review in January 2005 and compared to 87.6%
at securitization.

Moody's is upgrading Classes C, D, E, F and G due to increased
subordination levels, defeasance and stable pool performance.

The largest shadow rated loan is the SunAmerica Center Loan, which is the
A Note of a first mortgage loan that has a current balance of $195.8
million.  The B Note is held outside the trust. The loan is secured by a
780,000 square foot Class A office building located in the Century City
submarket of Los Angeles, California.  The property was 89.4% occupied as
of February 2006, compared to 88.6% at last review and compared to 96% at
securitization.  Major tenants include SunAmerica Life Insurance Company,
Bear Stearns Corporation and O'Melveny & Myers, which together lease 32.1%
of the property.  Performance has been stable since last review.

Moody's current shadow rating is Aa3, the same as at last review.

The second shadow rated loan is the Century City Shopping Center Loan,
which is the A Note of a first mortgage loan that has a current balance of
149.7 million.  The B Note is held outside the trust.  The loan is secured
by a 784,000 square foot regional mall located in Century City, Los
Angeles.  The mall is anchored by Bloomingdale's and Macy's and is 95.3%
occupied, essentially the same as at last review.  The property's
financial performance has improved since last review due to increased
revenues and stable operating expenses.

Moody's current shadow rating is Aa1, compared to Aa3 at last review.

The top three conduit loans represent 5.9% of the outstanding pool
balance.  The largest conduit loan is the Capital Senior Living - Tesson
Heights Loan, which is secured by a 186-unit assisted living facility
located in St. Louis, Missouri.

Moody's LTV is 78.4%, compared to 81.1% at last review.

The second largest conduit loan is the Arizona Portfolio, which is secured
by four retail properties located in Arizona.  Moody's LTV is 86.6%,
essentially the same as at last review.

The third largest conduit loan is the Capital Senior Living -- Veranda
Club, which is secured by a 189-unit congregate care facility located in
Boca Raton, Florida.  Moody's LTV is 76.3%, compared to 85.2% at last
review.

The pool's collateral is a mix of retail, office, U.S. Government
securities, multifamily, lodging, healthcare, industrial and CTL. The
collateral properties are located in 24 states and the District of
Columbia.  The highest state concentrations are California, Georgia,
Florida, Texas  and South Carolina.  All of the loans are fixed rate.


LINCOLN DEVELOPMENT: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Lincoln Development LLC
        c/o Robert D. Steinberg
        6523 California Avenue South West
        PMB 326
        Seattle, WA 98136

Bankruptcy Case No.: 06-14464

Chapter 11 Petition Date: December 15, 2006

Court: Western District of Washington (Seattle)

Judge: Philip H. Brandt

Debtor’s Counsel: Timothy W. Dore, Esq.
                  Ryan Swanson & Cleveland, PLLC
                  1201 3rd Avenue, Suite 3400
                  Seattle, WA 98101
                  Tel: (206) 464-4224

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $100,000 to $1 Million

The Debtor did not file a list of its 20 Largest Unsecured Creditors.


M/I HOMES: Moody's Holds Corporate Family Rating at Ba2
-------------------------------------------------------
Moody's affirmed the ratings of M/I Homes, including its corporate family
rating of Ba2 and the Ba2 rating on its senior unsecured notes.

The company's outlook was revised to negative from stable.

The negative outlook reflects:

   -- Moody's expectation that M/I Homes' earnings in 2007 will
      decline significantly from 2006 levels;

   -- that complying with its interest coverage covenant may
      become problematic; and,

   -- that management's ability to build liquidity and reduce
      debt leverage in the face of a downturn of unknown breadth
      and duration is as yet unproven.

The ratings incorporate the company's newly-heavy dependence on profits
from Florida markets, uneven profitability in other markets although
substantial progress has been made in recent years, essentially flat unit
home deliveries for the last six years, and the cyclical nature of the
homebuilding industry.  The ratings also acknowledge M/I Homes'
conservative and disciplined growth strategy, success in diversifying its
operating profits, growth in its equity base, and long history.

Going forward, consideration for stabilization of the company's outlook
and ratings will include its beginning to generate substantial positive
free cash flow, creating significantly more headroom under its interest
coverage covenant, and reducing debt leverage below 50%.

Factors that might stress the outlook and ratings include any actions or
transactions that would stress the balance sheet to the point where debt
leverage exceeded 55% for longer than a brief amount of time, coming close
to tripping the interest coverage covenant of 2.0x, or continuing to
generate negative free cash flow.

These ratings were affected:

   -- Corporate family rating affirmed at Ba2;

   -- Probability of default rating affirmed at Ba2;

   -- Senior unsecured debt ratings affirmed at Ba2; and,

   -- LGD  assessment and rate on the senior unsecured debt
      affirmed at LGD4, 56%;

Headquartered in Columbus, Ohio and begun in 1976, M/I Homes, Inc. sells
homes under the trade names M/I Homes, Showcase Homes, and Shamrock Homes,
with homebuilding operations located in Columbus and Cincinnati, Ohio;
Indianapolis, Indiana; Tampa, Orlando, and West Palm Beach, Florida;
Charlotte and Raleigh, North Carolina; Delaware; and the Virginia and
Maryland suburbs of Washington, D.C.  Revenues and net income for the last
twelve months ended Sept. 30, 2006 were $1.3 billion and $93 million,
respectively.


MADISON RIVER: CenturyTel Deal Cues S&P's Positive CreditWatch
--------------------------------------------------------------
Standard & Poor's Rating Services placed its ratings on Mebane, North
Carolina- based Madison River Communications Corp, including its 'B+'
corporate credit rating, on CreditWatch with positive implications.

At the same, Standard & Poor's affirmed the ratings on Monroe,
Louisiana-based CenturyTel Inc., including its 'BBB' corporate credit
rating.

The outlook for CenturyTel remains negative.

These rating actions comes after the Dec. 18, 2006, report that
CenturyTel, a rural telephone provider based in Monroe, Louisiana, has
entered into a definitive agreement to acquire all of the stock of Madison
River for about $305 million in cash, plus the assumption of $525 million
of debt.  CenturyTel expects to complete the acquisition by the second
quarter of 2007.

"While the addition of Madison River's 176,000 access lines increases the
size of CenturyTel's access-line base by only about 8%, the financial
impact is disproportionately greater due to the near-100% debt financing
of the Madison River acquisition," said Standard & Poor's credit analyst
Susan Madison.

The transaction will add markets in Alabama, Georgia, North Carolina and
Illinois.

Pro forma for the acquisition, CenturyTel's debt at
Sept. 30, 2006, totaled about $3.4 billion.  Although CenturyTel's pro
forma annualized debt to EBITDA will weaken somewhat to the 2.6x area,
this parameter remains consistent with CenturyTel's rating.

Standard & Poor's notes, however, that the pending Madison River
acquisition, coupled with CenturyTel's ongoing stock repurchase
program, does significantly reduce CenturyTel's debt capacity at the
current rating level.  Accordingly, further debt-financed acquisitions, a
more aggressive shareholder friendly financial policy, or
greater-than-expected access-line losses could prompt us to lower the
rating.


MASTERCRAFT INTERIORS: Examiner Hires Tydings as Counsel
--------------------------------------------------------
The U.S Bankruptcy Court for the District of Maryland gave Harold
Hackerman, as examiner in the chapter 11 cases of Mastercraft Interiors,
Ltd., and Kimels of Rockville, Inc., authority to employ Tydings &
Rosenberg LLP, as his bankruptcy attorneys.

Tydings & Rosenberg will:

     a) advise the examiner with respect to his rights, duties,
        and powers;

     b) assist and advise the examiner and his accountant in the
        investigation of all issues raised in the order and show
        cause order;

     c) draft pleadings and applications;

     d) represent the examiner in hearings and proceedings;

     e) perform other legal services as may be required or in the
        best interest of the examiner in accordance with the
        powers and duties of the examiner; and

     f) review all pleadings filed by third parties affecting the
        rights, powers and duties of the examiner.

Court documents did not disclose the firm's compensation fee.

Alan M. Grochal, Esq., a partner of the firm, assures the Court that the
firm is a "disinterested person" as that term is defined in Section
101(14) of the Bankruptcy Code.

Mr. Grochal can be reached at:

     Alan M. Grochal, Esq.
     Tydings & Rosenberg LLP
     100 East Pratt Street, 26th Floor
     Baltimore, MD 21202-1009 Map & Directions
     Tel: (410) 752-9700
     Fax: (410) 727-5460
     http://www.tydingslaw.com/

Headquartered in Beltsville, Maryland, Mastercraft Interiors Ltd.
-- http://www.mastercraftinteriors.com/-- manufactures furniture
and other home furnishings.  The Company and its subsidiary,
Kimels of Rockville, Inc., filed for bankruptcy on May 15, 2006,
(Bankr. D. Md. Case No. 06-12769).  Morton A. Faller, Esq.,
Michael J. Lichtenstein, Esq., and Stephen A. Metz, Esq., at
Shulman, Rogers, Gandal, Pordy & Ecker, P.A., represent
the Debtors in their restructuring efforts.  Bradford F.
Englander, Esq., at Linowes and Blocher LLP, represents the
Official Committee Unsecured Creditors.  When Mastercraft
Interiors filed for bankruptcy, it reported assets amounting to
$10,600,288 and debts amounting to $25,485,847.  Kimels of
Rockville reported assets totaling $704,227 and debts amounting to
$10,341,704 when it filed for bankruptcy.

Harold Hackerman was appointed as examiner in the chapter 11 cases of
Mastercraft Interiors, Ltd., and Kimels of Rockville, Inc.


MASTERCRAFT INTERIORS: Examiner Hires Ellin as Accountants
----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Maryland gave Harold
Hackerman, the examiner appointed in the chapter 11 cases of Mastercraft
Interiors, Ltd., and Kimels of Rockville, Inc., permission to employ Ellin
& Tucker, as his accountant, nunc pro tunc to Sept. 1, 2006.

Ellin & Tucker will:

     a) investigate all issues raised in the order and show case
        order;

     b) review the Debtor's books, records and bankruptcy papers
        and communicating with the Debtors, their employee and
        agents and certain third parties to ascertain the facts
        surrounding the Debtors' transactions with consumer
        creditors;

     c) review the Debtors' books, records, and bankruptcy and
        certain insiders' books, records and financial documents
        and communicating with these Debtors and insiders to
        determine the nature of certain transactions between the
        Debtors and these insiders;

     d) draft any written reports regarding the facts discovered
        by the firm and the examiner; and

     e) examine and analyze all data obtained in subparagraphs
        (a), (b) and (c) above and if necessary, provide any and
        all services necessary to assist the examiner in
        disclosing this information to the Court and other
        parties-in-interest, including providing testimony at any
        deposition or at trial.

The firm's professionals billing rates are:

     Designation                  Hourly Rate
     -----------                  -----------
     Director/Principal            $240-$325
     Manager                       $175-$235
     Associates and Consultants     $90-$160

R. Christopher Rosenthal, CPA, who is also a director of the firm, assures
the Court that his firm does not hold any interest adverse to the Debtors
and is a "disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

Mr. Rosenthal can be reached at:

     R. Christopher Rosenthal
     Certified Public Accountant
     Ellin & Tucker
     Bank of America, Suite 1300
     100 South Charles Street
     Baltimore, MD 21201-2714
     Tel: (410) 727-5735
     Fax: (410) 727-1405
     http://www.etnet.com/

Headquartered in Beltsville, Maryland, Mastercraft Interiors Ltd.
-- http://www.mastercraftinteriors.com/-- manufactures furniture
and other home furnishings.  The Company and its subsidiary,
Kimels of Rockville, Inc., filed for bankruptcy on May 15, 2006,
(Bankr. D. Md. Case No. 06-12769).  Morton A. Faller, Esq.,
Michael J. Lichtenstein, Esq., and Stephen A. Metz, Esq., at
Shulman, Rogers, Gandal, Pordy & Ecker, P.A., represent
the Debtors in their restructuring efforts.  Bradford F.
Englander, Esq., at Linowes and Blocher LLP, represents the
Official Committee Unsecured Creditors.  When Mastercraft
Interiors filed for bankruptcy, it reported assets amounting to
$10,600,288 and debts amounting to $25,485,847.  Kimels of
Rockville reported assets totaling $704,227 and debts amounting to
$10,341,704 when it filed for bankruptcy.

Harold Hackerman was appointed as examiner in the chapter 11 cases of
Mastercraft Interiors, Ltd., and Kimels of Rockville, Inc.


MICHAEL CASSIDY: Case Summary & 3 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Michael P. Cassidy
        17450 Hawksview Lane
        Chagrin Falls, OH 44023

Bankruptcy Case No.: 06-16093

Chapter 11 Petition Date: December 6, 2006

Court: Northern District of Ohio (Cleveland)

Judge: Pat E. Morgenstern-Clarren

Debtor’s Counsel: Kenneth J. Freeman, Esq.
                  Kenneth J. Freeman Co, LPA
                  515 Leader Building
                  526 Superior Avenue
                  Cleveland, OH 44114
                  Tel: (216) 771-9980
                  Fax: (216) 771-9978

Estimated Assets: $100,000 to $1 Million

Estimated Debts:  $1 Million to $100 Million

Debtor’s 3 Largest Unsecured Creditors:

   Entity                     Nature of Claim       Claim Amount
   ------                     ---------------       ------------
Marilyn B. Cassidy            Spousal support            $87,000
22725 Westchester Road
Shaker Heights, OH 44122

Wheeler Landscaping Inc.      Debtor's residence          $1,485
11554 Washington Street       located at 17450    secured value:
Burton, OH 44021              Hawksview Lane,           $600,000
                              Chagrin Falls, Ohio    senior lien
                              PPN: 02419689               value:
                                                         620,145

Geauga County Clerk of        Debtor's residence            $145
Courts                        located at 17450    secured value:
100 Short Court, Suite 2B     Hawksview Lane,           $600,000
Chardon, OH 44024             Chagrin Falls, OH      senior lien
                              PPN: 02419689               value:
                                                      $1,109,731


MILACRON INC: Inks Five-Year $105 Million Loan With GE-Corporate
----------------------------------------------------------------
Milacron Inc. reported the signing of a five-year revolving credit
facility providing up to $105 million of borrowing availability.  The new
asset-based loan, provided by GE-Corporate Lending, increases Milacron’s
total borrowing capacity by approximately
$17 million, based on current asset levels.

The new facility, which matures in 2011, replaces the company’s current
$75 million ABL, which was due to expire in 2008.

"Achieving access to greater liquidity, at more attractive terms, gives us
confidence that Milacron will have the resources over the long term to
remain focused on important strategic initiatives, such as new product
development, expanding our presence in emerging markets and improving our
worldwide customer support capabilities," said Ross A. Anderson, senior
vice president and chief financial officer.

The new ABL consists of a facility with up to $95 million of borrowing
capacity, in addition to an overadvance facility with up to $10 million of
borrowing capacity. There are no performance covenants as long as the
company complies with certain minimum availability thresholds.  Complete
terms of the agreement are being filed with the Securities and Exchange
Commission.  Lazard assisted Milacron in arranging the financing.

"Providing financing solutions to support our clients throughout their
business lifecycle is something we specialize in," said Rob McMahon,
managing director, GE-Corporate Lending.  "We worked closely with Milacron
to understand their needs and structured financing to help maximize
liquidity and flexibility."

Headquartered in Cincinnati, Ohio, Milacron Inc. (NYSE: MZ)
-- http://www.milacron.com/-- is a leading global manufacturer
and supplier of plastics-processing equipment and related
supplies.  Milacron is also one of the largest global
manufacturers of synthetic water-based industrial fluids
used in metalworking applications.  The company has major manufacturing
facilities in North America, Europe, and Asia.  Milacron's annual revenues
approximated US$805 million over
the last twelve months.

The company has an office in South Korea, and joint ventures in
China and India.

                        *     *     *

On October 3, 2006, Moody's Investors Service's confirmed its Caa1
Corporate Family Rating for Milacron Inc., and its Caa1 rating on the
company's 11.5% senior notes.  Additionally, Moody's assigned an LGD 3
rating to those bonds, suggesting noteholders will experience a 44% loss
in the event of a default.


MSC 2006-SRR2: Fitch Rates $1.3 Million Class Q Notes at B-
-----------------------------------------------------------
Fitch assigns these ratings to SPGS SPC, acting for the account of MSC
2006-SRR2 Segregated Portfolio:

   -- $72,000,000 class A-1 variable floating-rate notes due 2046
      'AAA';

   -- $90,000,000 class A-2 variable floating-rate notes due 2046
      'AAA';

   -- $38,400,000 class B variable floating-rate notes due 2046
      'AA+';

   -- $28,200,000 class C variable fixed-rate notes due 2046
      'AA';

   -- $12,600,000 class D variable floating-rate notes due 2046
      'AA-';

   -- $14,800,000 class E variable floating-rate notes due 2046
      'A+';

   -- $12,200,000 class F variable floating-rate notes due 2046
      'A';

   -- $11,610,000 class G variable floating-rate notes due 2046
      'A-';

   -- $18,750,000 class H variable floating-rate notes due 2046
      'BBB+';

   -- $9,360,000 class J variable floating-rate notes due 2046
      'BBB';

   -- $16,080,000 class K variable floating-rate notes due 2046
      'BBB-';

   -- $12,480,000 class L variable floating-rate notes due 2046
      'BB+';

   -- $6,510,000 class M variable floating-rate notes due 2046
      'BB';

   -- $2,970,000 class N variable floating-rate notes due 2046
      'BB-';

   -- $5,040,000 class O variable floating-rate notes due 2046
      'B+';

   -- $2,160,000 class P variable floating-rate notes due 2046
      'B'; and,

   -- $1,320,000 class Q variable floating-rate notes due 2046
      'B-'.

SPGS SPC, acting for the account of MSC 2006-SRR2 Segregated Portfolio,
incorporated under the laws of the Cayman Islands, is a static synthetic
collateralized debt obligation transaction that references a $1.2 billion
portfolio.  The portfolio consists of 60 separate 'BBB' rated commercial
mortgage-backed security bonds.  The transaction is designed to provide
credit protection for realized losses on a reference portfolio through a
credit default swap between the issuer and the swap counterparty, Morgan
Stanley Capital Services Inc.  The legal maturity date of the CDS is 2046.
The securities are rated to the timely payment of interest and the
ultimate repayment of principal on the maturity date.

Proceeds from the issuance of the securities are invested in a pool of
eligible investments, which are protected through the total return swap
agreement between the issuer and MSCS, the TRS counterparty.  The payment
obligations of the TRS counterparty are guaranteed by Morgan Stanley, the
swap counterparty guarantor.  Under the TRS agreement, MSCS will make
periodic interest payments to the issuer and pay any depreciation in
market value with respect to eligible collateral upon its disposition to
the issuer, and the issuer will pay MSCS all the interest and similar
amounts payable with respect to the eligible collateral.

In addition, the issuer will pay to MSCS any appreciation in market value
of the eligible collateral upon its disposition.

The ratings are based on the credit quality of the reference portfolio,
the credit enhancement provided by subordination for each tranche, the
strength of the counterparties, and the transaction's sound financial and
legal structures.


N-STAR REAL: Fitch Affirms BB Rating on $12.75 Mil. Class F Notes
-----------------------------------------------------------------
Fitch affirms seven classes of notes issued by N-Star Real Estate CDO V,
Ltd./Corp.  These rating actions are effective immediately:

      -- $339,735,000 class A-1 notes at 'AAA';
      -- $47,000,000 class A-2 notes at 'AAA';
      -- $41,400,000 class B notes at 'AA';
      -- $18,125,000 class C notes at 'A';
      -- $15,240,000 class D notes at 'BBB';
      -- $5,000,000 class E notes at 'BBB-';
      -- $12,750,000 class F notes at 'BB'.

N-Star V is a revolving arbitrage cash flow collateralized debt obligation
which closed Sept. 22, 2005, and is supported by collateral selected by NS
Advisors, LLC, an indirect wholly owned subsidiary of NorthStar Realty
Finance Corp.  The transaction has a five-year reinvestment period, during
which time proceeds from regular asset amortization can be used to
purchase additional collateral up to a 35% reinvestment cap.  N-Star V is
composed of commercial mortgage-backed securities (CMBS; 72.3%), real
estate investment trust securities (REITs; 22.7%), and CDO securities;
5.0%.

Although there has been overall positive credit migration in the
underlying portfolio, only affirmations are warranted at this time due to
the revolving nature of the transaction.  Since closing, the Fitch
weighted average rating factor test has improved to 7 ('BBB'/'BBB-') from
8 ('BBB-'/'BB+').  According to the most recent trustee report dated Nov.
17, 2006, the A/B, C, D, E, and F overcollateralization ratios are stable
at 117.0%,  112.3%, 108.6%, 107.4%, and 104.5% respectively, and are all
in compliance with their performance triggers of 106.8%, 105.0%, 103.3%,
103.1%, and 101.8% respectively.

The ratings on classes A-1, A-2 and B address the timely payment of
interest and ultimate payment of principal as outlined in the governing
documents.  The ratings on classes C, D, E and F address the ultimate
payment of interest and principal as outlined in the governing documents.


NEW JERUSALEM: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: New Jerusalem Baptist Church of Lakeland, Florida, Inc.
        1125 North New York Avenue
        Lakeland, FL 33805

Bankruptcy Case No.: 06-07210

Type of Business: The Debtor operates a church.

Chapter 11 Petition Date: December 18, 2006

Court: Middle District of Florida (Tampa)

Judge: K. Rodney May

Debtor’s Counsel: Malka Isaak, Esq.
                  Law Office of Malka Isaak
                  306 East Tyler Street, Suite 300
                  Tampa, FL 33602
                  Tel: (813) 229-2221 ext. 1213
                  Fax: (813) 225-2315

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor’s 20 Largest Unsecured Creditors:

   Entity                     Nature of Claim       Claim Amount
   ------                     ---------------       ------------
Church Mortgage & Loan Corp.  Church                    $275,000
620 N. Wymore Rd., Ste. 240   1125 N. New York    secured value:
Maitland, FL 32751            Ave.                    $1,500,000
                              Lakeland, FL 33805     senior lien
                              Church Parsonage            value:
                              1525 Wright Dr.         $1,426,972
                              Lakeland, FL 33805
                              School
                              1129 N. Missouri
                              Lakeland, FL 3

Dr. Jimmie L. Downing         Personal loan             $100,000
P.O. Box 3414
Lakeland, FL 33802

Rudolfo Arno, Jr.             Church                     $78,000
3809 Concord Approach Way     1125 N. New York    secured value:
Smyrna, GA 30082              Ave.                    $1,500,000
                              Lakeland, FL 33805     senior lien
                              Church Parsonage            value:
                              1525 Wright Dr.         $1,788,222
                              Lakeland, FL 33805
                              School
                              1129 N. Missouri
                              Lakeland, FL 3

Calvin Ellis, Jr.             Church                     $30,000
TOD Deborah L. Odom           1125 N. New York    secured value:
1002 E. Alabama St.           Ave.                    $1,500,000
Plant City, FL 33563          Lakeland, FL 33805     senior lien
                              Church Parsonage            value:
                              1525 Wright Dr.         $1,701,972
                              Lakeland, FL 33805
                              School
                              1129 N. Missouri
                              Lakeland, FL 3

Jimmie L. Downing             Church                     $15,000
TOD Sheryl H. Downing         1125 N. New York    secured value:
P.O. Box 3414                 Ave.                    $1,500,000
Lakeland, FL 33802            Lakeland, FL 33805     senior lien
                              Church Parsonage            value:
                              1525 Wright Dr.         $1,908,672
                              Lakeland, FL 33805
                              School
                              1129 N. Missouri
                              Lakeland, FL 3

Suntrust Bankcard             Credit card                $15,000
c/o Marc B. Cohen, Esq.
10 Central Parkway, Ste. 400
Stuart, FL 34994

Jimmie L. Downing             Church                     $15,000
P.O. Box 3414                 1125 N. New York    secured value:
Lakeland, FL 33802            Ave.                    $1,500,000
                              Lakeland, FL 33805     senior lien
                              Church Parsonage            value:
                              1525 Wright Dr.         $1,923,672
                              Lakeland, FL 33805
                              School
                              1129 N. Missouri
                              Lakeland, FL 3

James Houser, Jr.             Church                     $14,500
3857 Dovehollow Dr.           1125 N. New York    secured value:
Lakeland, FL 33812            Ave.                    $1,500,000
                              Lakeland, FL 33805     senior lien
                              Church Parsonage            value:
                              1525 Wright Dr.         $1,866,222
                              Lakeland, FL 33805
                              School
                              1129 N. Missouri
                              Lakeland, FL 3

Regina S. Rodman              Church                     $13,500
2105 Edwin St.                1125 N. New York    secured value:
Winter Haven, FL 33881        Ave.                    $1,500,000
                              Lakeland, FL 33805     senior lien
                              Church Parsonage            value:
                              1525 Wright Dr.         $1,766,472
                              Lakeland, FL 33805
                              School
                              1129 N. Missouri
                              Lakeland, FL 3

Barbara E. Sykes              Church                     $10,000
Hordie Sykes, Sr. JTWROS      1125 N. New York    secured value:
1204 Long                     Ave.                    $1,500,000
Lakeland, FL 33801            Lakeland, FL 33805     senior lien
                              Church Parsonage            value:
                              1525 Wright Dr.         $1,736,972
                              Lakeland, FL 33805
                              School
                              1129 N. Missouri
                              Lakeland, FL 3

Christ Community Christian    Church                     $10,000
Center Church, Inc.           1125 N. New York    secured value:
P.O. Box 550                  Ave.                    $1,500,000
Lakeland, FL 33802            Lakeland, FL 33805     senior lien
                              Church Parsonage            value:
                              1525 Wright Dr.         $1,943,672
                              Lakeland, FL 33805
                              School
                              1129 N. Missouri
                              Lakeland, FL 3

Platinum Plus                 Credit card                 $8,531
P.O. Box 15469
Wilmington, DE 19886

Lloyd Holmes                  Church                      $7,000
515 Hull St.                  1125 N. New York    secured value:
Lakeland, FL 33805            Ave.                    $1,500,000
                              Lakeland, FL 33805     senior lien
                              Church Parsonage            value:
                              1525 Wright Dr.          1,888,472
                              Lakeland, FL 33805
                              School
                              1129 N. Missouri
                              Lakeland, FL 3

Winfred Smith                 Church                      $5,200
TOD Bernice Smith             1125 N. New York    secured value:
949 W. 10th St.               Ave.                    $1,500,000
Lakeland, FL 33805            Lakeland, FL 33805     senior lien
                              Church Parsonage            value:
                              1525 Wright Dr.         $1,901,972
                              Lakeland, FL 33805
                              School
                              1129 N. Missouri
                              Lakeland, FL 3

United American Freewill      Church                      $5,000
Baptist Conference, Inc.      1125 N. New York    secured value:
P.O. Box 3827                 Ave.                    $1,500,000
Lakeland, FL 33802            Lakeland, FL 33805     senior lien
                              Church Parsonage            value:
                              1525 Wright Dr.         $1,938,672
                              Lakeland, FL 33805
                              School
                              1129 N. Missouri
                              Lakeland, FL 3

Orpah B. Hall                 Church                      $5,000
TOD MIckel J. Tunsil, II      1125 N. New York    secured value:
P.O. Box 93131                Ave.                    $1,500,000
Lakeland, FL 33804            Lakeland, FL 33805     senior lien
                              Church Parsonage            value:
                              1525 Wright Dr.         $1,961,922
                              Lakeland, FL 33805
                              School
                              1129 N. Missouri
                              Lakeland, FL 3

Gloria J. Adderley            Church                      $4,000
TOD Janell P. McRae           1125 N. New York    secured value:
3439 Milner Dr.               Ave.                    $1,500,000
Lakeland, FL 33810            Lakeland, FL 33805     senior lien
                              Church Parsonage            value:
                              1525 Wright Dr.         $1,783,972
                              Lakeland, FL 33805
                              School
                              1129 N. Missouri
                              Lakeland, FL 3

Gary Townsend                 Church                      $3,500
1428 Fern Place               1125 N. New York    secured value:
Lakeland, FL 33801            Ave.                    $1,500,000
                              Lakeland, FL 33805     senior lien
                              Church Parsonage            value:
                              1525 Wright Dr.         $1,969,422
                              Lakeland, FL 33805
                              School
                              1129 N. Missouri
                              Lakeland, FL 3

Grover Murray, Jr.            Church                      $3,500
TOD Brenda M. Murray          1125 N. New York    secured value:
P.O. Box 92932                Ave.                    $1,500,000
Lakeland, FL 33804            Lakeland, FL 33805     senior lien
                              Church Parsonage            value:
                              1525 Wright Dr.         $1,958,422
                              Lakeland, FL 33805
                              School
                              1129 N. Missouri
                              Lakeland, FL 3

Linda A. Nalls                Church                      $3,000
TOD George L. Nalls           1125 N. New York    secured value:
1221 Reynolds Rd.             Ave.                    $1,500,000
Lakeland, FL 33801            Lakeland, FL 33805     senior lien
                              Church Parsonage            value:
                              1525 Wright Dr.         $1,746,972
                              Lakeland, FL 33805
                              School
                              1129 N. Missouri
                              Lakeland, FL 3


NEW WORLD BRANDS: Posts $619,376 Net Loss in Period Ended Sept. 30
------------------------------------------------------------------
New World Brands Inc. posted a $619,376 net loss for the three months
ended Sept. 30, 2006, compared to net income of $1,160,791 for the three
months ended Sept. 30, 2005.

Company-wide revenue for the three months ended Sept. 30, 2006 decreased
to $4,965,036, a decrease of 35% from $7,687,616 revenue for the three
months ended Sept. 30, 2005.  Revenue for the nine months ended Sept. 30,
2006 decreased to $14,941,810, a decrease of 4% from $15,622,503
company-wide revenue for the nine months ended Sept. 30, 2005.  The
decrease in revenues for both periods resulted from relatively flat sales
of VoIP services by the IP Gear Connect division, and reduced revenues
from the IP Gear division.

At Sept. 30, 2006, the company's balance sheet showed $10,215,402 in total
assets, $3,369,876 in total liabilities and shareholders equity of
$6,845,527.

A full-text copy of the company's quarterly report is available for free
at http://researcharchives.com/t/s?1795

                       Going Concern Doubt

Salberg & Company, PA, expressed substantial doubt about New World's
ability to continue as a going concern after auditing the company's
financial statements for the fiscal year ended
May 31, 2006 and 2005.  The auditing firm pointed to the company's
recurring net losses including a net loss and cash used in operations for
the year ended May 31, 2006 of $803,805 and $725,822, respectively.  In
addition, the Company has an accumulated deficit, stockholders’ deficiency
and working capital deficit of $23,244,208, $209,211 and $9,930,
respectively, at
May 31, 2006.

                    About New World Brands

Headquartered in Fort Lauderdale, Florida, New World Brands, Inc.,
imported wine and spirits for distribution in the United States.  In June
2006, the company changed its business model by selling its wine and
spirits business and acquiring substantially all of the assets of Qualmax,
Inc.  As a result, the company is no longer in the wine and spirits
business and is now a specialized IP communications solutions provider,
equipment reseller, manufacturer and research and development company, and
VoIP service provider.


NEW YORK WESTCHESTER: Case Summary & 20 Largest Unsec. Creditors
----------------------------------------------------------------
Debtor: New York Westchester Square Medical Center
        2475 Street Raymond Avenue
        Bronx, New York 10461

Bankruptcy Case No.: 06-13050

Type of Business: The Debtor operates a hospital.
                  See http://www.nywsmc.org/

Chapter 11 Petition Date: December 19, 2006

Court: Southern District of New York (Manhattan)

Judge: Stuart M. Bernstein

Debtor’s Counsel: Burton S. Weston, Esq.
                  Garfunkel, Wild & Travis, P.C.
                  111 Great Neck Road - 5th Floor
                  Great Neck, NY 11021
                  Tel: (516) 393-2588
                  Fax: (516) 466-5964

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor’s 20 Largest Unsecured Creditors:

   Entity                                 Claim Amount
   ------                                 ------------
   1199 SIEU                                $1,340,513
   330 West 42nd Street, 27th Floor
   New York, NY 10036

   Westchester Square Emergency             $1,260,607
   Physicians
   484 Temple Hill Road, Ste. 102
   New Windsor, NY 12553

   Sodexho                                    $885,016
   P.O. Box 905374
   Charlotte, NC 28290

   Depuy Ortho                                $785,598
   5972 Collection Center Drive
   Lkbox 12 UCN 368000
   Chicago, IL 60693

   Medical Resources                          $333,462
   1455 Broad Street
   Bloomfield, NJ 07003

   Wellness Medical                           $308,505
   1180 Morris Park Avenue
   Bronx, NY 10461

   Health/ROI                                 $279,234
   P.O. Box 362
   344 Main Street
   Metuchen, NJ 08840

   New York State Nurses Association          $237,602

   Diversified Investments                    $198,494

   Boston Scientific                          $174,858

   Hill Rom Co.                               $167,747

   Beckman Coulter                            $156,059

   Con Edison                                 $154,877

   Ernst & Young, LLP                         $147,960

   Preferred Business Forms                   $142,273

   Unitex Textile                             $134,054

   Total Healthcare Staffing                  $133,957

   Epstein, Becker & Green                    $118,979

   NYC Water Board                            $117,215

   Specialty Professional Service             $113,201


NOMURA ASSET: Fitch Holds B- Rating on $27.9 Million Class Certs.
-----------------------------------------------------------------
Fitch Ratings upgrades Nomura Asset Securities Corp.'s commercial mortgage
pass-through certificates, series 1998-D6:

      -- $37.2 million class B-2 to 'A-' from 'BBB';
      -- $37.2 million class B-3 to 'BBB' from 'BB+'.

In addition, Fitch affirms these classes:

      -- $1.8 billion class A-1B at 'AAA';
      -- $382.7 million class A-1C at 'AAA';
      -- Interest-only class PS-1 at 'AAA';
      -- $223.4 million class A-2 at 'AAA';
      -- $204.8 million class A-3 at 'AAA';
      -- $167.5 million class A-4 at 'AAA';
      -- $55.8 million class A-5 at 'AAA';
      -- $18.6 million class B-5 at 'B';
      -- $27.9 million class B-6 at 'B-'.

Class A-1A has paid in full.

Fitch does not rate the interest-only class A-CS1, $158.2 million class
B-1, the $65.2 million class B-4, or the $16.5 million class B-7 and B-7H
certificates.

The upgrades are attributable to the additional defeasance of 11.2% of the
transaction since Fitch's last rating action.  Eighty four loans (30.8%)
have fully defeased since issuance, including the second largest loan in
the pool, Park LaBrea (4.1%).  In addition, four loans are partially
defeased (0.69%). As of the December 2006 distribution date, the pool has
paid down 15% to $3.17 billion from $3.72 billion at issuance.  There is
currently one loan (0.23%) in special servicing.

The specially serviced asset is secured by a 58,317 square foot retail
shopping center in Maryville, TN.  The center is Real Estate Owned and is
being marketed for sale by the special servicer, CW Capital Asset
Management LLC.  The asset was originally secured by three properties.
The other two have been sold.  All losses are expected to be absorbed by
the non-rated classes B-7 and B-7H.

The transaction includes six credit assessed loans.  One of the loans, The
Bristol French Quarter (3.8%) is fully defeased, and another, Summerfield
Suites / Innkeepers (0.2%), is partially defeased.  Fitch reviewed
servicer-provided financial statements and other performance information
for the non-defeased portion of Summerfield Suites/Innkeepers (0.9%) and
the remaining non-defeased credit assessed loans: Fox Plaza (5%),
Westminster/Burnham-Pacific (3.9%), Morris Corp. (1%) and Westin Casaurina
(0.47%).  The debt service coverage ratios for the loans are calculated
based on a Fitch adjusted net cash flow and a stressed debt service based
on the current loan balances and a hypothetical mortgage constant.  Of the
four remaining non-defeased credit assessments, three are considered
investment grade.

The Fox Plaza loan (5%), the largest loan in the pool, is collateralized
by a 710,767 sf office building in Century City, Calif.  Performance
remains strong, with the Fitch-stressed DSCR based on net cash flow for
the twelve months ended June 30, 2006 of 1.58 times (x), compared to the
Fitch stressed DSCR of 1.21x at issuance. Occupancy is stable at 92.2% as
of November 2006 compared to 91.0% at issuance.

The Westminster/Burnham-Pacific pool (3.9%) is collateralized by 18
cross-collateralized and cross-defaulted anchored community shopping
centers located throughout California.  At issuance, the collateral
consisted of 19 centers, but one center was released from the trust in
2004.  The Fitch-stressed DSCR for Year-End 2005 was 2.20x, compared to
1.61x at issuance.  Occupancy as of June 2006 increased to 94.9% from
92.7% at issuance.

The Morris Corp. Center loan (1%) is collateralized by two multi-tenant
suburban office buildings with 521,700 sf located in Parsippany, New
Jersey.  The YE 2005 Fitch-stressed DSCR was 1.66x compared to 1.83x at
issuance.  Occupancy as of June 2006 decreased to 77.2% from 81.7% at
issuance.

The non-defeased portion of the Summerfield Suites / Innkeepers portfolio
loan is secured by seven hotels located in six states.  The Westin
Casuarina loan (0.47%) is secured by a leasehold interest in a 341-room
beachfront resort hotel located on the Grand Cayman Island.  Both loans'
credit assessments remain below investment grade.


NORTEL NETWORKS: $2.45 Bil. Settlement Pact with Shareholders OK’d
------------------------------------------------------------------
Two U.S. District Judges Richard Berman and Loretta Preska in Manhattan
have approved Nortel Networks Corp.’s $2.45 billion settlement with its
shareholders, Martha Graybow writes for Reuters.

Pursuant to the settlement agreement, the company will pay
$575 million in cash and issue shares equal to about 14.5% of its current
outstanding equity, worth more than $1.64 billion based on Nortel's
current stock value.

In addition, the settlement includes $228.5 million in payments from the
company's insurers and half of any money that the company gets in its
lawsuits against former CEO Frank Dunn and other fired senior officers
related to the accounting fiasco.

Reuters reports that the company and its shareholders had agreed to stop
the litigation, which includes two separate class-action securities fraud
suits brought by different shareholder groups, as a result from an
accounting scandal.  The pact still needs approval by various Canadian
courts.

According to the source, the shareholders said that in the lawsuits, they
lost money because the company revised its financial outlook in 2001 and
restated results from 2001 to 2003 to correct accounting errors.

Citing company spokesman Jay Barta, Reuters relates that Nortel is very
pleased with the progress of the suit settlement.

                          About Nortel

Headquartered in Ontario, Canada, Nortel Networks Corporation
(NYSE/TSX: NT) -- http://www.nortel.com/-- delivers technology
solutions encompassing end-to-end broadband, Voice over IP,
multimedia services and applications, and wireless broadband
designed to help people solve the world's greatest challenges.
Nortel does business in more than 150 countries.

                           *     *     *

As reported in the Troubled Company Reporter on Oct. 5, 2006,
Moody's Investors Service upgraded its B3 Corporate Family Rating
for Nortel Networks Corp. to B2.


NORTEL NETWORKS: Inks $2-Billion Supply Deal with Verizon Wireless
------------------------------------------------------------------
Nortel Networks Corp. signed a $2-billion supply deal with Verizon
Wireless to help the cellphone company cope with an explosion in demand
for mobile broadband Internet access, Reuters reports.

According to the companies, the five-year agreement is aimed at
expanding the quality and reach of Verizon's network in the
United States as users clamor for online video, games and music,
Reuters notes.

The report cites Nortel's mobility and converged core networks
president, Richard Lowe, as saying that consumers expect more
from their mobile devices than voice communication and text
messaging.

Mr. Lowe said that Nortel is making it simple for Verizon
Wireless to expand its network to meet this demand and to
competitively drive new services to market, the report relates.

Reuters points out that Nortel is betting that demand for online
media and gaming will push the Internet to the brink in terms of
capacity, prompting both wireline and wireless network
expansions from service providers such as Verizon.

Billions of dollars are at stake for equipment suppliers like
Nortel and its rivals, as users watch movies and download music
on desktops and laptops, as well as on cellphones and portable
e-mail devices, the report says.

                          About Nortel

Headquartered in Ontario, Canada, Nortel Networks Corporation
(NYSE/TSX: NT) -- http://www.nortel.com/-- delivers technology
solutions encompassing end-to-end broadband, Voice over IP,
multimedia services and applications, and wireless broadband
designed to help people solve the world's greatest challenges.
Nortel does business in more than 150 countries.

                           *     *     *

As reported in the Troubled Company Reporter on Oct. 5, 2006,
Moody's Investors Service upgraded its B3 Corporate Family Rating
for Nortel Networks Corp. to B2.


NUTECH DIGITAL: Inks Exclusive Distribution Deal with VCX Ltd.
--------------------------------------------------------------
NuTech Digital Inc. disclosed the execution of an exclusive distribution
agreement with VCX Ltd. Inc., based out of Las Vegas, Nevada.

The exclusive agreement between NuTech and VCX will include the
distribution of all NuTech Digital Late Night CLASSICS material for the
remainder of the licensing agreements for North America.  Financial terms
of the agreement were not disclosed.

"This agreement will increase our distribution and cut costs further which
will allow us to focus on our licensing relationships," Lee Kasper, Chief
Executive Officer of NuTech Digital, stated.  "We strongly believe that
VCX is an ideal match for our late night CLASSICS product line and we had
been in negotiations with them since giving up our late night distribution
facilities as part of our phase out plan."

Commenting on the Distribution Agreement, VCX President, Dave Sutton,
said, "We are very excited to add NuTech's high quality productions to our
extensive catalog and anticipate the generation of new distribution
network awareness for NuTech's product lines."

                       About Nutech Digital

NuTech Digital, Inc. -- http://www.nutechdvd.com/-- is engaged in
the business of producing popular music concerts and licensing and
distributing general enertainment products, most of which are made
available through digital versatile discs.  The company's products
include Japanese anime, late night programming, and general
entertainment action adventure films.  The company's products are
principally sold through retail  stores, the Internet and
distributors.

                          Going Concern

Weaver & Martin, LLC, of Kansas City, Mo., expressed substantial
doubt about Nutech Digital Inc.'s ability to continue as a going
concern after auditing the company's Dec. 31, 2005 financial
statements.  The auditing firm pointed to the company's recurring
losses from operations and the company's dependence upon the
continued sale of its securities or obtaining debt financing for
funds to meet its cash requirements.


OPEN SOLUTIONS: Moody's Junks Rating on $325 Million Senior Notes
-----------------------------------------------------------------
Moody's Investors Service has confirmed Open Solutions Inc.'s corporate
family rating at B2.

This concludes the review initiated on Oct. 18, 2006 , which was prompted
by the company's announcement of its agreement to be acquired by The
Carlyle Group and Providence Equity Partners for a total transaction value
of $1.4 billion including the assumption of debt.

The acquisition, which has been approved by Open Solutions' board of
directors, is expected to close by the first quarter of 2007 and is
subject to customary approvals and consents.

The transaction will be financed by $855 million of new debt issuance and
over $550 million of equity infusion from sponsors and management.

Ratings confirmed:

   -- Corporate Family Rating at B2;
   -- Probability of Default Rating at B2; and,
   -- Loss Given Default Assessment at 50%-LGD4.

These ratings were assigned:

   -- $75 Million First Lien Secured Revolver at Ba3, 31%, LGD3;

   -- $530 Million First Lien Secured Term Loan B at Ba3, 31%
      LGD3; and,

   -- $325 Million Senior Subordinated Notes at Caa1, 85% LGD5.

These ratings will be withdrawn on the closing of the transaction and the
subsequent repayment of these debts:

   -- $290 Million First Lien Secured Term Loan at Ba3, 28%,
      LGD2;

   -- $30 Million First Lien Secured Revolver at Ba3, 28%, LGD2;
      and,

   -- $60 Million Second Lien Term Loan at B3, 69%, LGD4.

SGL Rating: SGL-2

The B2 corporate family rating reflects Open's high debt leverage;
significant acquisitions history over the past three years and the
doubling of its size earlier in 2006 due to the acquisition of Bisys
Information Services; still small size of its enterprise with total
revenue of $450 million, potential challenges to retain BIS' software
clients, although the preliminary retention rate appears satisfactory; and
continued consolidation of banks and thrifts which reduces the number of
clients in the total addressable market for Open Solutions.  The rating
also reflects the mission-critical nature of the company's core banking
software; high client retention rates; low client concentration;
significant organic revenue growth rate in a relatively mature business;
and the free cash flow generation post the current leveraging event.

The stable rating outlook reflects the criticality and contractual nature
of the company's software and services, provided via onsite licensing and
on an outsourced basis to small and medium sized banks and credit unions
for their regulated processing needs.

Upward rating pressure could occur subsequent to reduction in leverage of
Debt / EBITDA of less than 5x and sustained free cash flow to debt in
excess of 10%.  Conversely, a scenario of lower organic revenue growth,
lower BIS retention rates, or higher conversion implementation costs such
that free cash flow to debt falls below 4% could lead to downward rating
pressure.

As a result of this proposed acquisition by the private equity firms,
Moody's expects that the company will retire the existing $290 million
first lien and $60 million second lien term loans. In addition, the
company's unrated $144 million convertible notes will convert into the
merger consideration payable to their underlying shares of common stock.

Headquartered in Glastonbury, Connecticut, Open Solutions Inc. provides
financial institution data processing and information management software
and services and has 2006 pro forma revenues of approximately $450
million.


PATRIOT TAX: Reacts to Ira Gaines & Barry Zemels' Tender Offer
--------------------------------------------------------------
Patriot Tax Credit Properties L.P. responded to an unsolicited tender
offer by Ira Gaines and Barry Zemel, Peachtree Partners, to purchase up to
4.9% of the 38,125 outstanding limited partnership units of Patriot at a
price of $30 per unit, less certain reductions to that purchase price as
described in the Offerors’ written tender offer materials dated Nov. 30,
2006.

The Offerors are not affiliated with Patriot or its general partner.  The
Offerors did not provide Patriot with a copy of the Offering Materials at
or prior to the time they commenced the Offer.  Patriot learned of the
Offer only after certain unit holders contacted Patriot to inquire about
the Offer and Patriot thereafter obtained a copy of the Offering
Materials.

Patriot expresses no opinion and is neutral with respect to whether or not
unit holders should tender their units in response to the Offer.  As
Patriot has previously disclosed to its unit holders, Patriot is in the
process of liquidating its portfolio of investments in other limited
partnerships.  It is uncertain at this time how much money, if any, will
be realized by Patriot and its unit holders from the liquidation of
Patriot’s investments.

Patriot has not prepared itself or received from any third party any
valuations of its investments.  Accordingly, Patriot takes no position on
whether or not the Offer and its purchase price are attractive or
unattractive to unit holders from an economic point of view.  Patriot
notes, however, that the administrative fee of $150 per selling investor
may substantially reduce the net sales proceeds received by a selling unit
holder. Patriot further notes that this $150 "administrative fee" is being
charged and received by the Offerors and not by Patriot itself. Patriot
imposes only a $50 fee for its processing of transfer requests.

Patriot Tax Credit Properties L.P. engaged in investing Local Partnerships
Properties.

                        *     *     *

On Sept. 30, 2006, Patriot Tax Credit's balance showed a total
stockholders deficit of $795,781 compared to a deficit of $3,395,261 on
March 31, 2006.


PHARMANET DEVELOPMENT: Moody's Changes Ratings Outlook to Stable
----------------------------------------------------------------
Moody's Investors Service changed the outlook on PharmaNet Development
Group Inc.'s ratings to stable from negative.

Moody's also affirmed the Caa1 Corporate Family Rating and B1 Senior
Secured Bank Credit Facility rating, and upgraded the speculative grade
liquidity rating to SGL-3 from SGL-4.

The change in PharmaNet's rating outlook to stable and the upgrade of the
SGL rating reflect higher than anticipated operating cash flow in 2006 and
2007, an improving liquidity position, the recent amendment to its credit
facility and a resolution of many issues that the company has faced at its
Phase I facility in Miami.

In comparison to Moody's forecasts made as part of its
April 11, 2006 downgrade, Moody's now believes that the company will have
adequate cash flow to cover capital expenditures and near-term debt
service requirements, although working capital is volatile from quarter to
quarter.  Moody's notes that the late stage business has grown by more
than 26% for the nine months ended Sept. 30, 2006.

Moody's has been encouraged by the strength of the company's clinical
services business, which has been hurt less than Moody's expected after
the report that the United States Senate's Finance Committee had requested
documents from the company and was inquiring about the company's operating
procedures.  Further, the company's liquidity position is improving based
on its increasing cash balances and remaining availability under its bank
facility.

The ratings could be upgraded if the company continues to generate solid
operating cash flow while maintaining existing levels of outstanding debt.
The ratings would also benefit if the company is able to sustain strong
growth in its late stage business while improving results from its early
stage business. Further, a favorable resolution of ongoing litigation
could also result in upward rating pressure.

The ratings could be downgraded if significant cash outlays are needed to
settle any litigation, especially if the company had to access external
sources to help finance such litigation.  The outlook could also change if
there were a meaningful deterioration in the late stage business.
Finally, if the company were to pursue a large acquisition financed with
debt, the ratings could be downgraded.

Ratings affirmed with a positive outlook:

   -- $45 Million Senior Secured Bank Credit Facility, rated B1,
      LGD1, 7%

   -- Corporate Family Rating, rated Caa1

   -- Probability of Default Rating, rated Caa1

   -- Loss Given Default Assessment, LGD4, 50%

The outlook is stable.

Based in Princeton, New Jersey, PharmaNet Development Group, Inc., is a
North American contract research organization that provides Phase I
through Phase IV clinical development services, bioanalytical laboratory
services, and specialized drug development services to pharmaceutical,
biotechnology and generic pharmaceutical companies.  The company reported
total revenue of $304 million for the nine months ended Sept. 30, 2006.


PHOENIX COMPANIES: Moody's Holds Rating on Preferred Stock at Ba2
-----------------------------------------------------------------
Moody's Investors Service affirmed the ratings of Phoenix Companies Inc.
and its life insurance subsidiaries - Phoenix Life Insurance Company and
PHL Variable Insurance Company, both rated A3 for insurance financial
strength.

All the ratings have a stable outlook.

Moody's says that PNX's ratings are based on a substantial block of stable
in force individual life insurance, strong capitalization, and broad
product distribution.

The rating agency notes, however, that these strengths are somewhat offset
by these factors:

   (1) PNX's modest operating profitability;

   (2) its modest market presence and limited brand; and,

   (3) continuing challenges in its asset management business,
       including negative net flows and the ongoing risk of
       goodwill and intangible asset write-offs related to past
       asset management acquisitions.

Moody's commented that these factors could move PNX's ratings upward:

   (1) a consistent a return on equity above 7% annually on a
       generally accepted accounting principles basis;

   (2) adjusted financial leverage of less than 30%; and,

   (3) earnings interest coverage greater than 4x.

Moody's also commented that these factors could move PNX's ratings downward.

These include:

   (1) a substantial lessening of low-risk reserves as a
       percentage of total reserves to 25% or less;

   (2) an NAIC risk-based capital ratio of less than 325%;

   (3) financial leverage increasing to more than 40%; and,

   (4) cash-flow coverage at less than 1.5x.

These have been affirmed with a stable rating outlook:

   * Phoenix Companies, Inc.

      -- Senior unsecured debt rating at Baa3;
      -- provisional subordinate debt rating at Ba1; and,
      -- provisional preferred stock rating at Ba2.

   * Phoenix Life Insurance

      -- Insurance financial strength rating at A3;
      -- surplus note rating at Baa2.

   * PHL Variable Insurance Company

      -- Insurance financial strength rating at A3.

Moody's last rating action on PNX was on Nov. 9, 2005.  At that time,
Moody's assigned ratings to a PNX shelf registration and also assigned a
provisional Baa3 debt rating to PNX's senior unsecured notes.

PNX is a manufacturer of insurance, annuity, and asset management products
for the accumulation, preservation, and transfer of wealth.  The company
is located in Hartford, Connecticut.  PNX had $28 billion in assets and
$2.2 billion in stockholder's equity at Sept. 30, 2006 on a generally
accepted accounting principles basis.


PINE MOUNTAIN: Moody's Rates $6.25 Million Class E Notes at Ba1
---------------------------------------------------------------
Moody's Investors Service assigned ratings to Notes issued by Pine
Mountain CDO II Ltd.:

   -- Aaa to $392,750,000 Class A Floating Rate Notes Due
      Nov. 30, 2046;

   -- Aa2 to $37,500,000 Class B Floating Rate Notes Due
      Nov. 30, 2046;

   -- A2 to $23,500,000 Class C Deferrable Interest Floating Rate
      Notes Due Nov. 30, 2046;

   -- Baa2 to $23,000,000 Class D Deferrable Interest Floating
      Rate Notes Due Nov. 30, 2046; and,

   -- Ba1 to $6,250,000 Class E Deferrable Interest Floating Rate
      Notes Due Nov. 30, 2046.

The Moody's ratings of the Notes address the ultimate cash receipt of all
required interest and principal payments, as provided by the Notes'
governing documents, and are based on the expected loss posed to
noteholders, relative to the promise of receiving the present value of
such payments.

The ratings reflect the risks due to the diminishment of cash flow from
the underlying portfolio consisting of Asset-Backed Securities,
Residential ABS Securities, Commercial Mortgage-Backed Securities and
Synthetic Securities due to defaults, the transaction's legal structure
and the characteristics of the underlying assets.

Smith Breeden Associates, Inc. will manage the selection, acquisition and
disposition of collateral on behalf of the Issuer.


PITTSBURGH CORNING: Ct. Denies Confirmation of Reorganization Plan
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Pennsylvania issued
a decision denying confirmation of the most recent amended plan of
reorganization for Pittsburgh Corning Corporation after normal business
hours on Dec. 22, 2006.

Although denying confirmation, the decision viewed favorably many features
of the plan.  PPG Industries Inc. is studying the bankruptcy court’s
decision to determine its next steps.  These could include plan
modifications, reconsideration by the bankruptcy court, or appeals.

PPG has owned 50% of Pittsburgh Corning since 1937.

Headquartered in Pittsburgh, Pennsylvania, Pittsburgh Corning Corporation
manufactures residential, commercial, and industrial building materials,
including glass block and cellular glass insulation.  The company filed
for chapter 11 protection on
April 17, 2000 (Bankr. W.D. Pa. Case No. 00-22876-JKF).  Pittsburgh
Corning Corp. -- a joint venture between PPG Industries Inc. (NYSE
Arca:PPG) and Corning Inc. -- may emerge from chapter 11 under a plan
calling for PPG to $2.7 billion to settle asbestos-related claims,
according to on-the-record statements made to Judge Fitzgerald by Paul M.
Singer, Esq., at Reed Smith LLP.  Pittsburgh Corning disclosed that it
faces 140,000 asbestos-related lawsuits when the company filed for Chapter
11 protection.


PLAINS ENDS: Fitch Rates $20.3 Million Secured Notes at BB
----------------------------------------------------------
Fitch assigned ratings of 'BBB-' to Plains End Financing, LLC's $117.7
million senior secured bonds due 2028 and 'BB' to its
$20.3 million subordinated secured notes due 2023.

After paying transaction costs, the net proceeds from this offering will
be used primarily to fund construction of Plains End II and to retire the
existing debt of Plains End I.

PE is indirectly owned by Cogentrix Energy, Inc.  PE was formed solely to
own and develop two peaking power-generation facilities, PEI and PEII,
located in Jefferson County, Colorado.

PEI and PEII will be two neighboring, nearly identical facilities, with a
combined capacity of 228.6 MW. PEI, operational since 2002, and PEII, to
begin construction in 2007, have entered into long-term power purchase
agreements with the Public Service Company of
Colorado that expire in 2028.


PREMIUM PAPERS: Plainfield Closes Asset Acquisition
---------------------------------------------------
Plainfield Special Situations Master Fund Limited, an affiliate of
Plainfield Asset Management LLC, a Greenwich, Conn. based investment
advisor, has closed its asset acquisition transactions with Premium Papers
Holdco, LLC, PF Papers, LLC and Smart Papers, LLC pursuant to the First
Amended Joint Plan of Reorganization confirmed on Dec. 19, 2006, by the
U.S. Bankruptcy Court for the District of Delaware.  Each class of voting
creditors overwhelmingly accepted the Plan of Reorganization.  The Plan
Effective Date occurred with the closing transactions on Dec. 21, 2006.

                      About Plainfield Asset

Based in Greenwich, Conn., Plainfield Asset Management is an investment
advisor registered with the Securities and Exchange Commission. Plainfield
manages in excess of $1.9 billion of investment capital for institutions
and high net worth individuals based in the United States and abroad. The
firm was founded in Feb. 2005 by Max Holmes, and the Plainfield Special
Situations Master Fund Limited was launched in May 2005. Plainfield was
represented in the bankruptcy cases and related asset acquisition by the
law firm Vinson & Elkins, LLP (William L. Wallander, James A. Markus,
Kevin P. Lewis, Paul E. Heath, James A. Knight, Christopher B. Amandes,
Richard H. London, and Clayton T. Hufft).

                       About Premium Papers

Headquartered in Hamilton, Ohio, Premium Papers Holdco, LLC --
http://www.smartpapers.com/-- is an independent manufacturer and
marketer of a wide variety of premium coated and uncoated printing
papers, such as Kromekote, Knightkote, and Carnival.  The company
and its debtor-affiliates, SMART Papers LLC and PF Papers LLC,
filed for chapter 11 protection on March 21, 2006 (Bankr. D. Del.
Case No. 06-10269).  Ian S. Fredericks, Esq., at Young, Conaway,
Stargatt & Taylor, LLP, represents the Debtors.  Mary E. Seymour,
Esq., at Lowenstein Sandler PC, represents the Official Committee
of Unsecured Creditors.  Traxi LLC serves as the Debtors'
financial advisor.  When the Debtors filed for protection from
their creditors, they listed unknown estimated assets and $10
million to $50 million estimated debts.


REFCO INC: Chapter 11 Plan Effective; Orderly Wind-Up Begins
------------------------------------------------------------
The Chapter 11 plan of Refco Inc. and certain of its Direct and Indirect
Subsidiaries, including Refco Capital Markets, Ltd. and Refco F/X
Associates, LLC, became effective on Dec. 26, 2007.

The Debtors’ Chapter 11 plan had been confirmed by the U.S. Bankruptcy
Court for the Southern District of New York on Dec. 15, 2006.  The
effective date of the plan now permits the companies to complete an
expeditious orderly wind-up of their businesses.

As reported in the Troubled Company Reporter on Dec. 19, 2006, the Plan is
premised on a series of interdependent settlements and compromises in one
of the most complex bankruptcy cases in history.  Under the terms of the
Plan, secured lenders who were owed $717.7 million were paid in full in
cash prior to confirmation of the Plan; bondholders are expected to
receive
83.4 cents on the dollar for their claims; Refco Capital Markets'
securities customers are expected to receive approximately
85.6 cents on the dollar for their claims, and Refco Capital Markets'
general unsecured creditors are expected to receive approximately 37.6
cents on the dollar for their claims.  General unsecured creditors at the
other Refco companies are expected to receive between 23 and 37.5 cents on
the dollar for their claims.

In addition, shareholders and certain creditors of the company will have
the opportunity to participate in recoveries obtained by both the
Litigation Trust and Private Actions Trust, which will hold certain
litigation claims.

The effectiveness of the Plan enables Marc S. Kirschner, the Chapter 11
Trustee of Refco Capital Markets, Ltd., to make substantial interim
distributions to creditors of Refco Capital Markets by year-end.  The
other Refco companies will be wound up by RJM, LLC, operated by Robert J.
Manzo, and assisted by Capstone Advisory Group, LLC.

                          About Refco Inc.

Headquartered in New York City, Refco Inc. (OTC: RFXCQ) --
http://www.refco.com/-- is a diversified financial services
organization with operations in 14 countries and an extensive
global institutional and retail client base.  Refco's worldwide
subsidiaries are members of principal U.S. and international
exchanges, and are among the most active members of futures
exchanges in Chicago, New York, London and Singapore.  In addition
to its futures brokerage activities, Refco is a major broker of
cash market products, including foreign exchange, foreign exchange
options, government securities, domestic and international
equities, emerging market debt, and OTC financial and commodity
products.  Refco is one of the largest global clearing firms for
derivatives.

The Company and 23 of its affiliates filed for chapter 11
protection on Oct. 17, 2005 (Bankr. S.D.N.Y. Case No. 05-60006).
J. Gregory Milmoe, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP, represent the Debtors in their restructuring efforts.  Luc
A. Despins, Esq., at Milbank, Tweed, Hadley & McCloy LLP,
represents the Official Committee of Unsecured Creditors.  Refco
reported US$16.5 billion in assets and $16.8 billion in debts to
the Bankruptcy Court on the first day of its chapter 11 cases.

Refco LLC, an affiliate, filed for chapter 7 protection on
Nov. 25, 2005 (Bankr. S.D.N.Y. Case No. 05-60134).  Refco, LLC,
is a regulated commodity futures company that has businesses in
the United States, London, Asia and Canada.  Refco, LLC, filed
for bankruptcy protection in order to consummate the sale of
substantially all of its assets to Man Financial Inc., a wholly
owned subsidiary of Man Group plc.  Albert Togut, the chapter 7
trustee, is represented by Togut, Segal & Segal LLP.

On April 13, 2006, the Court appointed Marc S. Kirschner as
Refco Capital Markets Ltd.'s chapter 11 trustee.  Mr. Kirschner
is represented by Bingham McCutchen LLP.  RCM is Refco's
operating subsidiary based in Bermuda.

Three more affiliates of Refco, Westminster-Refco Management
LLC, Refco Managed Futures LLC, and Lind-Waldock Securities LLC,
filed for chapter 11 protection on June 6, 2006 (Bankr. S.D.N.Y.
Case Nos. 06-11260 through 06-11262).

Refco Commodity Management, Inc., formerly known as CIS
Investments, Inc., a debtor-affiliate of Refco Inc., filed for
chapter 11 protection on Oct. 16, 2006 (Bankr. S.D.N.Y. Case No.
06-12436).


ROBERT JOHNSON: Case Summary & 12 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Robert Alan Johnson
        dba Mint-Man, LLC
        dba DDC-Music Group, Inc.
        1684 Autumn Avenue
        Memphis, TN 38112

Bankruptcy Case No.: 06-30239

Chapter 11 Petition Date: December 8, 2006

Court: Western District of Tennessee (Memphis)

Judge: David S. Kennedy

Debtor’s Counsel: John E. Dunlap, Esq.
                  The Waggoner Law Firm
                  1433 Poplar Avenue
                  Memphis, TN 38104
                  Tel: (901) 276-3334
                  Fax: (901) 276-4715

Total Assets: $1,306,766

Total Debts:  $990,462

Debtor’s 12 Largest Unsecured Creditors:

   Entity                     Nature of Claim       Claim Amount
   ------                     ---------------       ------------
Elvin Feltner                 consignment               $220,000
237 Park Avenue, 21st Fl.
New York, NY 10017

NBC                           437 Avalon                $134,500
Recovery Dept.                Memphis, TN 38112   secured value:
1 Commerce Square                                       $127,600
Memphis, TN 38150

Steve Mohler                  consignment               $120,000
P.O. box 3319
Sarasota, FL 34230

NBC                           Residential Home           $72,958
Recovery Dept.                1684 Autumn         secured value:
1 Commerce Square             Memphis, TN 38112         $127,600
Memphis, TN 38150                                    senior lien
                                                          value:
                                                        $100,000

Tom Kreason                   consignment                $68,000
425 Motley Street
Grand Prairie, TX 75051

Herbert Tipton                consignment                $20,000
229 Clyce Street
Kingsport, TN 37660

Discover                                                 $18,024
P.O. Box 30943
Salt Lake City, UT 84130

Suntrust Visa                                            $14,389
P.O. Box 17309
Baltimore, MD 21297

St. Vincents                                                $950
P.O. Box 34555
Williamstown, MA 01267

Capital One                                                 $447
P.O. Box 30285
Salt Lake City, UT 84130

UT Medical Group                                            $314
Patient Acct. Svc.
1910 Nonconnah Blvd.
Ste. 120
Memphis, TN 38132

Campbell Clinic                                             $278
P.O. Box 1000
Dept. 500
Memphis, TN 38148


ROGERS COMMS: DBRS Upgrades Issuer Rating to BB Positive
--------------------------------------------------------
Dominion Bond Rating Service upgraded the Issuer Rating of Rogers
Communications Inc. to BB from BB (low), while maintaining the Positive
trend.  This is a direct result of the rating upgrades of both Rogers
Wireless Inc. and Rogers Cable Inc. to BB (high).

Positive trends have been maintained on RCI, Rogers Wireless
and Rogers Cable, reflecting the expectation of even further improved
performance over the near term, which, combined with the expectation of
further debt reduction, should result in stronger credit metrics.  This
also reflects DBRS’s expectation of no significant changes in RCI’s
overall strategy or general market conditions for Canadian cable or
wireless operators.

DBRS still maintains the one notch differential at RCI even though it has
no public debt currently outstanding.  This reflects RCI’s inherent
structural subordination and continued dependence on its operating
subsidiaries to finance its operating and capital expenditures, as well as
the common dividends paid to RCI shareholders.  DBRS believes that Rogers
could potentially simplify its reporting structure in the future, similar
to what has occurred at some other Canadian companies that have holding
and operating company structures, to reduce its filing requirements.
Therefore, depending on the alternative chosen, the structural
subordination issue could potentially be mitigated and a more consolidated
rating approach could be applied to RCI and its subsidiaries.

DBRS notes that funding requirements at the RCI level in 2006 will likely
increase to around $325 million, mainly attributable to the acquisition of
a new corporate building.  However, DBRS expects this level to decline to
almost $200 million in 2007, even with the increase in common dividend
payments to $100 million.  Overall, DBRS expects consolidated RCI to
generate over $300 million in free cash flow in 2006, with the potential
to almost double this amount in 2007.


ROPER INDUSTRIES: Moody's Holds Corporate Family Rating at Ba2
--------------------------------------------------------------
Moody's Investors Service affirmed a Ba2 corporate family rating on Roper
Industries, Inc.

Additionally, Moody's affirmed a Ba1 rating on the Company's $1.055
billion senior secured credit facility and a B1 rating on its $230 million
senior convertible subordinated notes.

The rating outlook has been changed to positive from stable.

Moody's affirmed these ratings:

   -- Corporate family rating, Ba2;

   -- Probability of default rating, Ba2;

   -- $595 million senior secured term loan due 2009, Ba1, LGD3,
      39%;

   -- $400 million senior secured revolver due 2009, Ba1, LGD3,
      39%; and,

   -- $230 million senior convertible subordinated notes due
      2034, B1, LGD6, 92%

Outlook action:

Ratings outlook has been changed to positive from stable

The factors supporting Roper's Ba2 corporate family rating include:

   (1) the Company's strong niche market positions that generate
       above-average margins;

   (2) the diversity of Roper's end-markets as well as Moody's
       expectation of a positive market environment for the
       Company's products; and,

   (3) Roper's track record of strong earnings and free cash flow
       generation.

Factors constraining Roper's rating include:

   (1) the Company's highly acquisitive growth strategy and the
       associated execution and integrating risks; and,

   (2) exposure to cyclical demand in some of its end markets.

The rating outlook change to positive reflects Moody's expectation that
Roper's financial profile will continue to improve as the company benefits
from continued strength in end-market demand for its products over the
next twelve to eighteen months.

The outlook also reflects the Company's current strong cash flow
generation and our the apparent success at the integration of recent
acquisitions.

Roper's ratings could be upgraded in the event of sustained improvement in
earnings and free cash flow such that total adjusted debt-to-EBITDA
remains comfortably below 3.0x and free cash flow-to-adjusted debt
improves to the mid to high twenty percent range over a longer horizon and
under various acquisition scenarios.

The outlook or ratings could come under pressure in the event of
significant acquisition activity that reduces the Company's liquidity and
poses heightened integration risks, business disruptions or a balance
sheet recapitalization that materially raises leverage or reduces
liquidity such that free cash flow-to-total adjusted debt falls below 10%.

Roper Industries, Inc., headquartered in Duluth, Georgia, is a diversified
industrial company that designs, manufactures, and distributes energy
systems and controls, scientific and industrial imaging products and
software, industrial technology products, instrumentation products and
services and radio frequency products and services.  For the twelve months
ended Sept. 30, 2006, Roper generated revenues of approximately
$1.6 billion.


SAINT VINCENTS: Wants Plan-Filing Period Stretched to January 31
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York will
convene a hearing on Dec. 28, 2006, to consider Saint Vincents Catholic
Medical Centers of New York and its debtor-affiliates' request to further
extend the period within which they have the exclusive rights to:

    a) file a plan of reorganization, to and including
       January 31, 2007; and

    b) solicit acceptances of that plan, to and including
       May 31, 2007.

Deryck A. Palmer, Esq., at Weil, Gotshal & Manges LLP, in New
York, relates that many of the facts cited by the Debtors for the
prior extensions continue to exist and support the further
extension of Exclusive Periods.  Among others, the Debtors:

   (1) have made and continue to make good faith progress toward
       their reorganization and emergence from Chapter 11,
       including working positively to repair fractured
       relationships with parties-in-interest and putting in
       place postpetition financing necessary for confident
       postpetition operations;

   (2) continue to refine the business plan that will provide the
       basis for a plan of reorganization that appropriately
       balances creditor recoveries with establishing a viable
       and vibrant post-reorganization health care system that
       will continue its mission in a financially stable
       environment;

   (3) have made substantial progress in turning around their
       operations;

   (4) have pursued, and continue to pursue, opportunities to
       identify and dispose of assets that are not the core
       assets around which to reorganize; and

   (5) have met and continue to meet regularly with the official
       committees about the detailed terms of a plan and the
       assumptions underlying the delicate balance between
       creditor distributions and future viability of the health
       care institution that will be embodied in any plan of
       reorganization;

   (6) have been negotiating and making progress with other
       constituencies, including the Pension Benefit Guaranty
       Corporation and the claims traders; and

   (7) have been and continue to pay all of their bills as they
       become due.

Mr. Palmer tells the Court that a number of contingencies remain
that are being worked through in the Debtors' cases.  The Debtors
are confident that the contingencies will be satisfied in the
near future and believe that they will be in a position to filing
a plan of reorganization and disclosure statement by January 31,
2007.

According to Mr. Palmer, the Debtors seek the extension so that
negotiations with various creditor constituencies can continue
with the hope of achieving a mutually acceptable plan of
reorganization.  In particular, the Official Committee of Tort
Claimants requested that the Debtors seek a further extension of
the Exclusive Periods.

Mr. Palmer assures the Court that extending the Exclusive Periods
will not unfairly augment the Debtors' leverage in negotiating a
reorganization plan.

The Tort Claimants Committee assents to the Debtors' request for
an extension.

Headquartered in New York, New York, Saint Vincents Catholic Medical
Centers of New York -- http://www.svcmc.org/-- the largest Catholic
healthcare providers in New York State, operate hospitals, health centers,
nursing homes and a home health agency.
The hospital group consists of seven hospitals located throughout
Brooklyn, Queens, Manhattan, and Staten Island, along with four nursing
homes and a home health care agency.  The Company and six of its
affiliates filed for chapter 11 protection on July 5, 2005 (Bankr.
S.D.N.Y. Case No. 05-14945 through 05-14951).  Gary Ravert, Esq., and
Stephen B. Selbst, Esq., at McDermott Will & Emery, LLP, filed the
Debtors' chapter 11 cases.  On Sept. 12, 2005, John J. Rapisardi, Esq., at
Weil, Gotshal & Manges LLP took over representing the Debtors in their
restructuring efforts. Martin G. Bunin, Esq., at Thelen Reid & Priest LLP,
represents the Official Committee of Unsecured Creditors.

As of Apr. 30, 2005, the Debtors listed $972 million in total assets and
$1 billion in total debts.  (Saint Vincent Bankruptcy News, Issue No. 42
Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


SAINT VINCENTS: Wants CMC-OHS's Bankruptcy Case Dismissed
---------------------------------------------------------
Saint Vincents Catholic Medical Centers of New York and its
debtor-affiliates ask the U.S. Bankruptcy Court for the Southern District
of New York to dismiss the Chapter 11 case of CMC-OHS (Case No. 05-14950)
effective as of the closing of the sale of Mary Immaculate Hospital,
Queens and St. John's Queens Hospital, and conditioned on the assignment
of a Shareholder Agreement to Caritas Health Care Planning, Inc., pursuant
to the terms of the purchase agreement.

As previously reported, the Court approved the sale of Mary
Immaculate Hospital, Queens and St. John's Queens Hospital, and
certain related assets, pursuant to an asset purchase agreement
dated May 9, 2006, by and among Saint Vincent's Catholic Medical
Centers, CMC Occupational Health Services, P.C., CMC Physician
Services, P.C., CMC Radiological Services, P.C., and CMC
Cardiology Services, P.C., and Caritas.

CMC-OHS, a New York professional corporation, is a so-called
"captive" professional corporation of SVCMC.  CMC-OHS' principal
function is to operate the medical services provided by the
Debtors at John F. Kennedy International Airport, supported by
MIH.  CMC-OHS has no assets other than contracts for services
provided at Kennedy Airport, $1,500,000 in accounts receivable,
and $377,000 in fixed assets.  CMC-OHS has $3,500,000 in
liabilities, including $1,540,000 in postpetition unsecured trade
debt and $1,160,000 due to SVCMC.  CMC-OHS maintains its own cash
management system separate from the other Debtors.

The sole shareholder of CMC-OHS is Neil Mandava, M.D., an
employee-at-will of SVCMC.  Pursuant to a shareholder agreement,
dated October 10, 2005, if Dr. Mandava's employment with SVCMC is
terminated for any reason, Dr. Mandava is required to transfer
his entire interest in CMC-OHS to an employee-at-will of SVCMC
designated by SVCMC.

The Shareholder Agreement also provides that SVCMC must approve
the annual operating budget of CMC-OHS, and obligates SVCMC to
make loans to CMC-OHS to fund that budget to the extent revenues
generated by CMC-OHS are insufficient to do so.  SVCMC also
controls CMC-OHS' governance and operation by influencing the
membership of the Board of Directors and the identity of officers
of the corporation, and by exerting control over CMC-OHS' ability
to secure financing, beyond trade debt, by restricting its
ability to encumber its property or issue new shares in the
corporation.  SVCMC currently has the ability, to a great extent,
to dictate both the business operations and the form and manner
of any reorganization of CMC-OHS.

Pursuant to the Queens Sale, the Debtors will assume and assign
certain executory contracts and unexpired leases to Caritas on
the Queens closing date.  The Debtors and Caritas have agreed to
amend the Assumption Schedule to include the Shareholder
Agreement in the Assumed Contracts and Leases being assigned to
Caritas.  As with all Assumed Contracts and Leases listed on the
Assumption Schedule, the Debtors and Caritas may remove the
Shareholder Agreement from the Assumption Schedule at any time up
to three days prior to the Queens Closing Date.

The Queens Purchase Agreement contemplated that the Debtors would
sell substantially all of the assets of CMC-OHS to Caritas.
Caritas determined that maintaining the assets within CMC-OHS,
and transferring control over CMC-OHS from SVCMC to Caritas
through assignment of the Shareholder Agreement, offers it
certain additional benefits, specifically, facilitating the
continuation of CMC-OHS' relationship with the Port Authority of
New York and New Jersey as well as with other parties to which it
provides medical services at Kennedy Airport, Andrew M. Troop,
Esq., at Weil, Gotshal & Manges LLP, in New York, relates.

According to Mr. Troop, the assignment of the Shareholder
Agreement to Caritas along with the sale of the Queens Assets
will effectively sever all CMC-OHS' ties with the Debtors and
will place CMC-OHS under the sole control of Caritas.

Mr. Troop tells Judge Hardin that because the effect of the transfer of
the Shareholder Agreement, there is no reason for CMC-OHS to continue to
be a part of the jointly administered case or for the other Debtors to
propose and solicit votes with respect to a plan of reorganization for
CMC-OHS.

Mr. Troop explains that it would not be in the interests of either SVCMC
or Caritas to have the CMC-OHS Case continue to be jointly administered
with SVCMC, or for decisions with respect CMC-OHS to be made by SVCMC and
its counsel.  Rather, he asserts, after the sale of the Queens Assets is
consummated, Caritas should be given control over the major business
decisions of CMC-OHS, including whether it should be reorganized under
Chapter 11 of the Bankruptcy Code.

Furthermore, Mr. Troop notes that the creditors of CMC-OHS will be "better
served" by dismissal of the CMC-OHS Case because the Shareholder Agreement
will obligate Caritas to fund the operating budget of CMC-OHS to the
extent there is a shortfall between that budget and the revenues generated
by CMC-OHS, Caritas will be obligated to provide CMC-OHS with the funds to
pay all of its debts in the ordinary course.  Caritas has affirmatively
taken on the Shareholder Agreement because of its relationship with
certain creditors.  After dismissal of the Case, CMC-OHS' creditors will
be able to immediately pursue state-law remedies against that corporation,
which Caritas will need to help satisfy in order to maintain CMC-OHS as an
ongoing business.

Mr. Troop adds that the dismissal will be without prejudice to CMC-OHS'
ability to file another petition under Chapter 11 of the Bankruptcy Code.
If, after the CMC-OHS Case is dismissed, it becomes apparent that it will
require reorganization or liquidation, Caritas' and CMC-OHS' ability to
make that decision will not be stymied by the relief requested, Mr. Troop
assures the Court.

Headquartered in New York, New York, Saint Vincents Catholic Medical
Centers of New York -- http://www.svcmc.org/-- the largest Catholic
healthcare providers in New York State, operate hospitals, health centers,
nursing homes and a home health agency.
The hospital group consists of seven hospitals located throughout
Brooklyn, Queens, Manhattan, and Staten Island, along with four nursing
homes and a home health care agency.  The Company and six of its
affiliates filed for chapter 11 protection on July 5, 2005 (Bankr.
S.D.N.Y. Case No. 05-14945 through 05-14951).  Gary Ravert, Esq., and
Stephen B. Selbst, Esq., at McDermott Will & Emery, LLP, filed the
Debtors' chapter 11 cases.  On Sept. 12, 2005, John J. Rapisardi, Esq., at
Weil, Gotshal & Manges LLP took over representing the Debtors in their
restructuring efforts. Martin G. Bunin, Esq., at Thelen Reid & Priest LLP,
represents the Official Committee of Unsecured Creditors.

As of Apr. 30, 2005, the Debtors listed $972 million in total assets and
$1 billion in total debts.  (Saint Vincent Bankruptcy News, Issue No. 42
Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


SALOMON BROTHERS: Fitch Pares Rating on Class L Certs. to BB-
-------------------------------------------------------------
Fitch upgrades Salomon Brothers Mortgage Securities VII, Inc.'s commercial
mortgage pass-through certificates, series 2000-NL1 as:

   -- $8.4 million class K to 'AA' from 'BBB+'; and,
   -- $3.3 million class L to 'BB-' from 'B-'.

In addition, Fitch affirms the ratings on these classes:

   -- Interest-only class X at 'AAA';
   -- $2.9 million class G at 'AAA';
   -- $5.8 million class H at 'AAA'; and,
   -- $4.2 million class J at 'AAA';

Fitch does not rate the $3.0 million class M certificates. Classes A-1,
A-2, B, C, D, E and F have paid off in full.  The upgrade reflects the
increased credit enhancement resulting from paydown and amortization.  As
of the December 2006 distribution date, the pool's aggregate certificate
balance has decreased 91.8% to $27.5 million from $334.2 million at
issuance.

Currently there are ten loans remaining in the pool, including one
defeased loan, compared to a total of seventy at issuance. There are no
delinquent or specially serviced loans.

None of the loans have lockout provisions, and, as such, the deal is
expected to continue to pay down.  Currently, 94.7% matures in 2008.


SALOMON HOME: S&P Cuts Ratings and Places Negative CreditWatch
--------------------------------------------------------------
Standard & Poor's Ratings Services lowered its ratings on two classes from
Salomon Home Equity Loan Trust Series 2002-CIT1 and placed them on
CreditWatch with negative implications.

Concurrently, the remaining ratings from this transaction were affirmed.

The downgrades reflect realized losses that have continuously depleted
overcollateralization.  During the previous eight remittance periods,
monthly losses have exceeded excess interest by approximately $70,000.
The failure of excess interest to cover monthly losses has resulted in an
overcollateralization deficiency of $566,343.  As of the November 2006
distribution date, overcollateralization was approximately 40% below its
target balance.  Total delinquencies represent 27.88% of the current pool
balance, with 9.71% categorized as seriously delinquent.  Cumulative
realized losses represent 2.51% of the
original pool balance.

Standard & Poor's will continue to closely monitor the performance of this
transaction.  If losses continue to outpace excess spread, additional
negative rating actions can be expected.

Conversely, if losses are covered by excess spread and
overcollateralization builds toward its target balance, Standard & Poor's
will affirm the ratings and remove them from CreditWatch.

The affirmations reflect actual and projected credit support that is
sufficient to maintain the current ratings.

Credit support for this transaction is provided through a combination of
subordination, excess spread, and overcollateralization.  The collateral
consists of 30-year, fixed- and/or adjustable-rate subprime mortgage loans
secured by first liens on residential properties.

                  Ratings Lowered And Placed On
                      Creditwatch Negative

                  Salomon Home Equity Loan Trust
                        Series 2002-CIT1

                                        Rating
                                        ------
             Series      Class     To             From
             ------      -----     --             ----
             2002-CIT1   M-4       BB/Watch Neg   BBB
             2002-CIT1   M-5       BB-/Watch Neg  BBB-

                        Ratings Affirmed

                Salomon Home Equity Loan Trust

                   Series      Class   Rating
                   ------      -----   ------
                   2002-WMC1   A       AAA
                   2002-WMC1   M-1     AA
                   2002-WMC1   M-2     A
                   2002-WMC1   M-3     A-


SMITHFIELD FOODS: Moody's Pares Corporate Family Rating to Ba2
--------------------------------------------------------------
Moody's Investors Service downgraded the ratings of Smithfield Foods'
senior unsecured debt to Ba3 from Ba2, its senior subordinated notes to B1
from Ba2, and its corporate family rating to Ba2 from Ba1.

Moody's also affirmed Smithfield's SGL-3 speculative grade liquidity rating.

The outlook on all ratings is negative.

The downgrade reflects the deterioration in the company's debt protection
measures, caused by a combination of relatively weak operating performance
combined with higher debt levels due to heavy debt-financed acquisition
activity.

The downgrade also reflects the increased integration risk the company
faces as it seeks to consolidate recent acquisitions, as well as
continuing event risk of additional acquisitions as the company pursues
its growth strategy.

The affirmation of Smithfield's SGL-3 reflects the company's adequate
liquidity, characterized by an increased reliance on external financing to
fund its growth initiatives, and weak cushion within financial covenants.
Smithfield could find it necessary to seek amendments to financial
covenants in its bank facilities or privately-placed debt should the
company's debt increase or operating performance weaken further.

The negative outlook reflects the challenges Smithfield faces in
integrating its recent acquisitions and managing a more complex business
portfolio while simultaneously attempting to reduce debt and increase
financial flexibility.

It also reflects the continued event risk of additional leveraged
acquisitions as the company pursues its global growth strategy. Moody's
notes that Smithfield's ratings and negative outlook anticipate closure of
the Premium Standard Farms acquisition for equity as outlined, and reflect
our views of the company's post PSF business and credit profile.  Should
that acquisition with equity not close as anticipated or -- lacking
closure of that transaction -- a material near-term equity issuance not be
completed, Smithfield's corporate family ratings will likely be downgraded
to Ba3.

Moody's considers Smithfield's Ba2 corporate family rating as reflecting
the company's high leverage, somewhat volatile earnings and cash flow
stream, aggressive acquisition strategy, and increasingly complex business
structure.

It also reflects the integration risks as Smithfield must consolidate a
series of acquisitions made over the past year, as well as
higher-than-average event risk of additional leveraged acquisitions within
the consolidating protein industry.  Smithfield's ratings are supported by
the company's large size, very strong market position, solid brand in the
US pork industry.

Smithfield Foods, Inc., headquartered in Smithfield, Virginia, is the
largest vertically integrated producer and marketer of fresh pork and
processed meat in the US and has operating subsidiaries and joint ventures
in France, Poland, Romania, the UK, Brazil, Mexico, and China.


SONIC CORPORATION: Completes $600 Million Securitized Financing
---------------------------------------------------------------
Sonic Corp. completed a $600 million securitized financing by certain of
its subsidiaries of Fixed Rate Series 2006-1 Senior
Notes, Class A-2 in a private transaction.

The Fixed Rate Notes will have an anticipated contract monthly weighted
average fixed interest rate of 5.7%.  The effective weighted average fixed
interest rate on a GAAP basis is anticipated to be approximately 5.9%, on
the Fixed Rate Notes, after giving effect to hedging arrangements entered
into in contemplation of the transaction.  The Fixed Rate Notes were
issued under an Indenture dated Dec. 20, 2006.  The Fixed Rate Notes will
have an expected life of six years, with a legal final repayment date in
December 2031.

Sonic also completed a securitized financing facility of Variable Rate
Series 2006-1 Senior Variable Funding Notes, Class A-1 in a private
transaction, which allows for the issuance of up to
$200 million of Variable Funding Notes.  Interest on the Variable Funding
Notes will be payable at per annum rates equal to LIBOR plus 105 basis
points.  No Variable Funding Notes were issued at closing.  There is a
commitment fee on the unused portion of the Variable Funding Notes
facility of 0.5%.

The subsidiaries that issued the Notes are indirect subsidiaries of Sonic
Corp. that hold substantially all of Sonic's franchising assets and
partner drive-in real estate.  The servicing and repayment of these Notes
is expected to be made solely from the income derived from these indirect
subsidiaries' assets.  Neither Sonic Corp., the ultimate parent of each of
the subsidiaries involved in the securitization, nor any subsidiary of
Sonic other than the subsidiaries involved in the securitization,
guarantee
or in any way are liable for the obligations of the subsidiaries involved
in the securitization under the Indenture pursuant to which the Notes are
issued or the Notes themselves, or any other obligation of such
subsidiaries in connection with the issuance of the Notes.

Sonic used approximately $532 million of the net proceeds from the sale to
repay its existing term loan and amounts outstanding under its revolving
credit facility and approximately $24 million to pay the costs associated
with the securitized financing transaction.  Sonic intends to use the
remaining net proceeds from the sale for general corporate purposes,
including expansion of its business, acquisitions of franchise drive-ins
and repurchases of Sonic Corp. common stock.

Headquartered in Oklahoma City, Oklahoma, Sonic Corp.,
(Nasdaq: SONC) -- http://www.sonicdrivein.com/-- operates and
franchises the largest chain of drive-in restaurants in the United
States.  As of May 31, 2006, the company owned and operated 604
restaurants and franchised 2,525 restaurants in 33 U.S. States and
in Mexico with significant presence in the Southern and Midwestern
United States.

                          *    *   *

As reported in the Troubled Company Reporter on Oct. 26, 2006,
Moody's Investors Service's revised its Corporate Family Rating for Sonic
Corp. to B1 from Ba3.

In addition, Moody's affirmed its Ba3 ratings on the company's
$100 million Senior Secured Revolver and $675 million Senior
Secured Term Loan.  Moody's assigned those debentures an LGD3
rating suggesting lenders will experience a 34% loss in the event
of default.


SONTRA MEDICAL: Posts $1.3 Million Net Loss in 2006 Third Quarter
-----------------------------------------------------------------
Sontra Medical Corp. incurred a $1,389,882 net loss on $23,179 of total
revenue for the three months ended Sept. 30, 2006, compared with a
$1,510,797 net loss on $20,615 of total revenue in the comparable quarter
of 2005.

The company’s balance sheet at Sept. 30, 2006, showed $2,342,456 in total
assets, $693,060 in total liabilities, and $1,649,396 in total
stockholders' equity.  The company's stockholders' equity stood at
$3,833,245 at Dec. 31, 2005.

                          SonoPrep System

SonoPrep is a non-invasive ultrasonic skin permeation technology for
medical and therapeutic applications.

Recently, the company received regulatory approvals for its second
generation SonoPrep System (Generation 2) that has opened business
opportunity leads in the international marketplace.  The regulatory
approvals include ISO 14385 certification and CE marking.  The company has
signed a distribution agreement with JOYMG, a medical device distribution
company based in Seoul, South Korea, to market and sell its SonoPrep
System in South Korea.  The agreement is subject to JOYMG obtaining
approval by the regulatory body, the Korean FDA.   As of Nov. 20, 2006,
the Company has not been notified by JOYMG of any regulatory approval.

Full-text copies of the company's third quarter financials are available
for free at http://ResearchArchives.com/t/s?179a

Based in Franklin, Massachusetts, Sontra Medical Corporation
(Nasdaq: SONT) -- http://www.sontra.com/-- develops platform
technology for transdermal science.  In addition, the Company owns
technology for transdermal delivery of large molecule drugs and
vaccines.

                           *     *     *

As reported in the Troubled Company Reporter on Nov. 23, 2006,
the Company has experienced a decline in investors interested in
making an investment in the company over the past year.  If
it does not raise additional capital by Dec. 31, 2006 (as debt or
equity), then the company will run out of cash and will be unable
to continue operations.  Sontra is continuing to pursue additional
capital through several potential identified investors but have
not received a commitment for financing at this time.  If it does
not raise additional capital, the company's Board of Directors may
decide to initiate an orderly wind-down of business operations or
to file for bankruptcy protection under the United States
Bankruptcy Code.  In the event that the company winds down
or files for bankruptcy, there would likely be little or no
proceeds available for its stockholders.


SPARTA COMMERCIAL: Posts $1.6 Mil. Net Loss in Qtr. Ended Oct. 31
-----------------------------------------------------------------
Sparta Commercial Services Inc. reported a $1.6 million net loss on
$219,555 of revenues for the second quarter ended Oct. 31, 2006, compared
with a $1.8 million net loss on $30,295 of revenues for the same period in
2005.

The $206,892 decrease in net loss for the quarter ended Oct. 31, 2006 was
attributable primarily to the increase in revenue and a decrease in
non-cash financing costs, partially offset by the  increase in operating
expenses and the charge for change in the value of warranty liability.

General and administrative expenses were $1.3 million during the quarter
ended Oct. 31, 2006, compared to $910,737 in the same period in 2005.

Current period revenue was comprised of $166,559 in lease revenue, $50,300
in private label and PPF Program fees and $2,696 in other income.  Prior
period revenue was comprised of $24,223 in lease revenue, $2,772 in dealer
fees, and $3,300 in private label fees.

At Oct. 31, 2006, the company's balance sheet showed $4.5 million in total
assets, $4.4 million in total liabilities, and $159,459 in total
stockholders' equity.

The company's balance sheet at Oct. 31, 2006, also showed strained
liquidity with $1.1 million in total current assets available to pay $2.2
million in total current liabilities.

Full-text copies of the company's consolidated financial statements for
the quarter ended Oct. 31, 2006, are available for free at
http://researcharchives.com/t/s?178f

                        Going Concern Doubt

Russell Bedford Stefanou Mirchandani LLP, in New York, raised
substantial doubt about Sparta Commercial Services, Inc.'s ability
to continue as a going concern after auditing the company's
consolidated financial statements for the years ended April 30,
2006, and 2005.  The auditor pointed to the company's recurring
operating losses.

                      About Sparta Commercial

Headquartered in New York City, Sparta Commercial Services Inc. (OTC
BB:SRCO.OB) -- http://www.spartacommercial.com/-- is a financial services
company in the United States exclusively dedicated to the powersports
industry.  Sparta's spectrum of financing programs covers all major brands
of motorcycles, virtually all semi customs, most ATVs, and select
scooters.


SYNAGRO TECH: Withdraws NYSE but Retains NASDAQ Listing
-------------------------------------------------------
Synagro Technologies Inc. plans to withdraw the listing of
its common stock from NYSE Arca Inc. fka Pacific Exchange.  The Company’s
common stock will continue to be listed on the NASDAQ Global Market.

The Company has decided to withdraw its listing from NYSE Arca, Inc. to
eliminate duplicative administrative requirements and costs inherent with
dual listings.  The withdrawal is expected to be effective within the next
month.

The Company does not believe that withdrawing its listing from NYSE Arca,
Inc. will have any impact on the liquidity of its stock.  The Company
believes that NYSE Arca will continue to trade the Company’s stock on an
unlisted trading privilege
basis.

Headquartered in Houston, Texas, Synagro Technologies, Inc.
(Nasdaq:SYGR)(ArcaEx:SYGR) -- http://www.synagro.com/-- offers
a broad range of water and wastewater residuals management services
focusing on the beneficial reuse of organic, nonhazardous residuals
resulting from the wastewater treatment process, including drying and
pelletization, composting,
product marketing, incineration, alkaline stabilization,
land application, collection and transportation, regulatory compliance,
dewatering, and facility cleanout services.

                        *     *     *

On Aug 22, 2006, Standard & Poor's Ratings Services lowered
its corporate credit rating and senior secured debt ratings on Synagro
Technologies Inc. by one notch to 'B+' from 'BB-'.
The outlook is stable.


TECO ENERGY: Completes Redemption of 8.5% Trust Pref. Securities
----------------------------------------------------------------
TECO Energy Inc. completed its early redemption of the remaining $100
million aggregate liquidation amount of the 8.5% trust preferred
securities of TECO Capital Trust I.

TECO Energy initiated the redemption of the trust preferred
securities by redeeming the remaining aggregate principal amount
of its underlying 8.5% junior subordinated notes due 2041.  The
trust preferred securities were redeemed in accordance with
their terms at $25 per trust preferred security plus accumulated but
unpaid distributions to the Dec. 20, 2006, redemption date.

The total aggregate redemption price for the trust preferred securities
was approximately $101.18 million, including approximately $1.18 million
of accumulated but unpaid distributions.  Holders of the securities
received $25.30 per redeemed security on Dec. 20, 2006.

As a result of this redemption, no trust preferred securities of TECO
Capital Trust I remain outstanding and they will therefore be
deregistered, suspending TECO Capital Trust I's reporting
obligations under the Securities Exchange Act of 1934, as
amended.  In addition, the trust preferred securities of TECO
Capital Trust I will no longer be listed nor trade on the New
York Stock Exchange.

Headquartered in Tampa, Florida, TECO Energy, Inc. (NYSE: TE) --
http://www.tecoenergy.com/-- is an integrated energy-related
holding company with regulated utility businesses, complemented by
a family of unregulated businesses.  Its principal subsidiary,
Tampa Electric Company, is a regulated utility with both electric
and gas divisions (Tampa Electric and Peoples Gas System).  Other
subsidiaries are engaged in waterborne transportation, coal and
synthetic fuel production and electric generation and distribution
in Guatemala.
                        *    *    *

As reported in the Troubled Company Reporter on Oct. 16, 2006,
Moody's Investors Service's downgraded its Ba1 Corporate Family Rating for
TECO Energy Inc. to Ba2.


TELOS CLO: Moody's Rates $43.3 Million Subordinated Notes at B1
---------------------------------------------------------------
Moody's Investors Service assigned these ratings to Notes issued by TELOS
CLO 2006-1, Ltd.:

   -- Aaa to $30,000,000 Class A-1R First Priority Senior Secured
      Revolving Notes Due 2021;

   -- Aaa to $110,000,000 Class A-1T First Priority Senior
      Secured Floating Rate Notes Due 2021;

   -- Aaa to $80,000,000 Class A-1D First Priority Senior
      Secured Delayed Draw Notes Due 2021;

   -- Aaa to $60,000,000 Class A-2 Second Priority Senior Secured
      Floating Rate Notes Due 2021;

   -- Aa2 to $27,200,000 Class B Third Priority Senior Secured
      Floating Rate Notes Due 2021;

   -- A2 to $22,000,000 Class C Fourth Priority Mezzanine Secured
      Floating Rate Deferrable Interest Notes Due 2021;

   -- Baa2 to $22,000,000 Class D Fifth Priority Mezzanine
      Secured Floating Rate Deferrable Interest Notes Due 2021;

   -- Ba2 to $16,000,000 Class E Sixth Priority Mezzanine Secured
      Floating Rate Deferrable Interest Notes Due 2021; and,

   -- B1 to $43,300,000 Subordinated Notes Due 2021.

The Moody's ratings of the Notes address the ultimate cash receipt of all
required interest and principal payments, as provided by the Notes'
governing documents, and are based on the expected loss posed to
noteholders, relative to the promise of receiving the present value of
such payments.  Moody's rating of the Subordinated Notes addresses only
the cash receipt of all required principal payments.

The ratings reflect the risks due to the diminishment of cash flow from
the underlying portfolio consisting of Loans, Participations, CLO
Securities and

Related Synthetic Obligations due to defaults, the transaction's legal
structure and the characteristics of the underlying assets.

Tricadia Loan Management LLC will manage the selection, acquisition and
disposition of collateral on behalf of the Issuer.


TEMPUR-PEDIC: Planned Notes Redemption Cues S&P's Positive Watch
----------------------------------------------------------------
Standard & Poor's Ratings Services placed its ratings for
Tempur-Pedic International Inc., including its 'BB-' corporate credit
rating, on CreditWatch with positive implications,
meaning the ratings could be raised or affirmed after the completion of
Standard & Poor's review.

Lexington, Kentucky–based Tempur-Pedic International, a leading
manufacturer and marketer of viscoelastic foam mattress and pillow
products, had about $373.5 million of total debt outstanding as of Sept.
30, 2006, excluding operating lease and pension obligations.

The CreditWatch listing comes after the company's recent report that it
intends to redeem $97.5 million of senior subordinated notes at the end of
December 2006.

"Tempur-Pedic's continued strong operating performance has resulted in
solid credit protection measures for the existing rating, and this planned
debt redemption should enable the company to further reduce leverage,"
said Standard & Poor's credit analyst Rick Joy.

In recent years, Tempur-Pedic has significantly increased its sales base
to more than $900 million from $479 million since 2003, while maintaining
debt leverage at below 2x.

Standard & Port's also expects that favorable industry demographics in the
bedding sector will help the company maintain its stable operating
performance over the near-to-intermediate term.

Standard & Poor's will meet with management to evaluate the company's
financial policy and operating strategy in order to resolve the
CreditWatch listing.


TERWIN MORTGAGE: Moody's Upgrades Ratings on 53 Tranches
--------------------------------------------------------
Moody's has upgraded 53 tranches from 19 closed-end second lien
residential mortgage securitizations from the 2003 and 2004 vintage.

These certificates were upgraded based on their levels of credit
enhancement provided by excess spread, overcollateralization, subordinate
classes, and in some cases mortgage insurance.

Also, Moody's has confirmed its rating on five classes.

These are the rating actions:

Upgrades:

   -- CWABS, Inc., Asset-Backed Certificates, Series 2002-SC1,
      Class M-2, upgrade from Aa2 to Aaa

   -- CWABS, Inc., Asset-Backed Certificates, Series 2002-SC1,
      Class B-1, upgrade from A3 to Aa3

   -- CWABS, Inc., Asset-Backed Pass-Through Certificates, Series
      2002-S4, Class M-2, upgrade from Aa2 to Aaa

   -- CWABS, Inc., Asset-Backed Pass-Through Certificates, Series
      2002-S4, Class B, upgrade from A3 to Aa3

   -- First Franklin Mortgage Loan Trust 2002-FFA, Class M-1,
      upgrade from Aa2 to Aa1

   -- First Franklin Mortgage Loan Trust 2004-FFA, Class M2-A,
      upgrade from A2 to Aaa

   -- First Franklin Mortgage Loan Trust 2004-FFA, Class M2-F,
      upgrade from A2 to Aaa

   -- First Franklin Mortgage Loan Trust 2004-FFA, Class M3-A,
      upgrade from Baa1 to A1

   -- First Franklin Mortgage Loan Trust 2004-FFA, Class M3-F,
      upgrade from Baa1 to A1

   -- First Franklin Mortgage Loan Trust 2004-FFA, Class M4,
      upgrade from Baa2 to A2

   -- First Franklin Mortgage Loan Trust 2004-FFA, Class M5,
      upgrade from Baa3 to A3

   -- First Franklin Mortgage Loan Trust 2004-FFB, Class M-3,
      upgrade from A1 to Aa1

   -- GMACM Home Equity Loan Trust 2004-HE2, Class M-1, upgrade
      from Aa1 to Aaa

   -- Home Equity Mortgage Trust 2003-6, Class M-2, upgrade from
       A2 to Aaa

   -- Home Equity Mortgage Trust 2003-6, Class B-1, upgrade from
      Baa2 to A2

   -- Home Equity Mortgage Trust 2003-6, Class B-2, upgrade from
      Baa2 to A2

   -- Home Equity Mortgage Trust 2003-7, Class B, upgrade from
      Baa2 to Aa3

   -- Home Equity Mortgage Trust 2004-1, Class M-2, upgrade from
      A2 to Aaa

   -- Home Equity Mortgage Trust 2004-1, Class B, upgrade from
      Baa2 to A2

   -- Home Equity Mortgage Trust 2004-2, Class M-2, upgrade from
      A2 to Aaa

   -- Home Equity Mortgage Trust 2004-2, Class B-1, upgrade from
      Baa1 to A1

   -- Home Equity Mortgage Trust 2004-2, Class B-2, upgrade from
      Baa2 to A2

   -- Home Equity Mortgage Trust 2004-2, Class B-3A, upgrade from
      Baa3 to A3

   -- Home Equity Mortgage Trust 2004-2, Class B-3F, upgrade from
      Baa3 to A3

   -- Home Equity Mortgage-Backed Pass-Through Certificates,
      Series 2004-3, Class M-2, upgrade from A1 to Aaa

   -- Home Equity Mortgage-Backed Pass-Through Certificates,
      Series 2004-3, Class M-3, upgrade from A2 to Aaa

   -- Home Equity Mortgage-Backed Pass-Through Certificates,
      Series 2004-3, Class M-4, upgrade from A3 to A1

   -- Home Equity Mortgage-Backed Pass-Through Certificates,
      Series 2004-3, Class M-5, upgrade from Baa1 to A2

   -- Home Equity Mortgage-Backed Pass-Through Certificates,
      Series 2004-3, Class B-1, upgrade from Baa2 to Baa1

   -- Home Equity Mortgage-Backed Pass-Through Certificates,
      Series 2004-3, Class B-2A, upgrade from Baa3 to Baa1

   -- Home Equity Mortgage-Backed Pass-Through Certificates,
      Series 2004-3, Class B-2F, upgrade from Baa3 to Baa1

   -- RFMSII Home Equity Loan Trust 2003-HS2, Class M-I-1,
      upgrade from Aa2 to Aaa

   -- RFMSII Home Equity Loan Trust 2003-HS2, Class M-I-2,
      upgrade from A2 to Aa2

   -- RFMSII Home Equity Loan Trust 2003-HS2, Class M-I-3,
      upgrade from Baa2 to A3

   -- Terwin Mortgage Trust 2003-1SL, Class B-1, upgrade from
      Baa2 to A1

   -- Terwin Mortgage Trust 2003-1SL, Class B-2, upgrade from Ba2
      to Baa2

   -- Terwin Mortgage Trust 2003-3SL, Class B-1, upgrade from
      Baa2 to A1

   -- Terwin Mortgage Trust 2003-3SL, Class B-2, upgrade from Ba2
      to Baa2

   -- Terwin Mortgage Trust 2003-5SL, Class B-1, upgrade from
      Baa2 to A2

   -- Terwin Mortgage Trust 2003-5SL, Class B-2, upgrade from
      Baa3 to A3

   -- Terwin Mortgage Trust 2003-5SL, Class B-3, upgrade from Ba2
      to Baa3

   -- Terwin Mortgage Trust 2003-7SL, Class B-1, upgrade from
      Baa2 to A1

   -- Terwin Mortgage Trust 2003-7SL, Class B-2, upgrade from
      Baa3 to A2

   -- Terwin Mortgage Trust 2003-7SL, Class B-3, upgrade from Ba2
      to Baa2

   -- Terwin Mortgage Trust 2004-2SL, Class B-1, upgrade from
      Baa2 to A2

   -- Terwin Mortgage Trust 2004-2SL, Class B-2, upgrade from
      Baa3 to A3

   -- Terwin Mortgage Trust 2004-2SL, Class B-3, upgrade from Ba2
      to Baa2

   -- Terwin Mortgage Trust 2004-4SL, Class B-1, upgrade from
      Baa2 to A2

   -- Terwin Mortgage Trust 2004-4SL, Class B-X, upgrade from
      Baa2 to A2

   -- Terwin Mortgage Trust 2004-4SL, Class B-2, upgrade from
      Baa3 to A3

   -- Terwin Mortgage Trust 2004-6SL, Class M-2, upgrade from A2
      to Aa2

   -- Terwin Mortgage Trust 2004-6SL, Class B-1, upgrade from
      Baa2 to A2

   -- Terwin Mortgage Trust 2004-6SL, Class B-2, upgrade from
      Baa3 to A3

Confirm:

   -- First Franklin Mortgage Loan Trust 2002-FFA, Class M-2,
      confirm at A2

   -- First Franklin Mortgage Loan Trust 2004-FFB, Class M-4,
      confirm at A2

   -- First Franklin Mortgage Loan Trust 2004-FFB, Class M-5,
      confirm at Baa1

   -- First Franklin Mortgage Loan Trust 2004-FFB, Class B,
      confirm at Baa2

   -- GMACM Home Equity Loan Trust 2004-HE2, Class M-2, confirm
      at Aa2


TITAN INT'L: S&P Rates Proposed $200 Million Senior Notes at B
--------------------------------------------------------------
Standard & Poor's Rating Services assigned its 'B+' corporate credit
rating to Quincy, Illinois-based Titan International Inc.

At the same time, Standard & Poor's assigned its 'B' ratings to the
company's proposed $200 million five-year senior unsecured
notes.

The outlook is stable.

Proceeds from the issuance will be used primarily to repay about $167
million of outstanding borrowings under the company's revolver credit
facility.

"The ratings reflect Titan's business position in the cyclical,
competitive and capital-intensive wheel and tire industry," said Standard
& Poor's credit analyst Gregoire Buet.

Also factored in the ratings are the company's aggressive financial
profile, as well as its leading market position, its improved, though
volatile, profitability, and expectation of
adequate liquidity going forward.

Titan manufactures wheels and tires for off-highway vehicles used
principally in the agriculture, construction, and mining industries.  A
smaller proportion of revenue is derived from the consumer market.  The
company has a strong market position in the domestic market for
off-highway wheels, and has established good positions as a specialty tire
supplier, strengthened by the recent acquisitions of Goodyear's farm and
Continental's off-the road tire assets.

However the company's markets are characterized by high cyclicality,
seasonality, and are competitive.  In addition, its customer base is
relatively concentrated, and the wheel and tire manufacturing process is
capital and labor intensive and exposed to raw material prices
fluctuation.

As a result, while market conditions have been favorable in the recent
years and the near-term outlook remains generally positive especially in
construction and mining industries where large tires are in very tight
supply, profitability is expected to be volatile over time.


TOTAL LUXURY: Posts $1.9 Mil. Net Loss in Quarter Ended Sept. 30
----------------------------------------------------------------
Total Luxury Group Inc. reported a $1.9 million net loss on $8,733 of
sales for the quarter ended Sept. 30, 2006.

During the three month period ended Sept. 30, 2006, and Sept. 30, 2005,
the company had only nominal revenues.

At Sept. 30, 2006, the company's balance sheet showed $7.7 million in
total assets, $4.4 million in total liabilities, and
$3.3 million in total stockholders' equity.

Full-text copies of the company's consolidated financial statements for
the quarter ended Sept. 30, 2006, are available for free at
http://researcharchives.com/t/s?178b

                Acquisition of International Apparel

On July 1, 2006, the company acquired the International Apparel Group for
7,550,000 shares of common stock.  International Apparel, through its
subsidiary companies, manufactures and sells apparel to major retailers
and distributors around the world.

                        Going Concern Doubt

Schwartz Levitsky Feldman LLP in Toronto, Ontario, Canada raised
substantial doubt about Total Luxury Group's ability to continue as a
going concern after auditing the company's consolidated financial
statements for the years ended Dec. 31, 2005, and 2004.
The auditing firm pointed to the company's net liability position and
accumulated operating losses since inception.

                        About Total Luxury

Total Luxury Group Inc. (NASDAQ OTC BB: TLEI) --
http://www.totalluxurygroup.com/-- formerly  known as Total  
Entertainment Inc., was involved in various ventures including gaming
software development and online casinos from 1999 through August 22, 2002.

Prior to the acquisition of International Apparel Group, had only one
wholly owned subsidiary in Total Entertainment (Delaware) Inc., which is
inactive.

From Aug. 22, 2002, through June 30, 2006, the company had no  business
activities  other  than  administrative costs necessary for researching an
acquisition candidate and for remaining a publicly reporting entity.


TOWER AUTOMOTIVE: Wants Scope of Foley & Lardner’s Work Expanded
----------------------------------------------------------------
Tower Automotive Inc. and its debtor-affiliates ask the U.S. Bankruptcy
Court for the Southern District of New York for permission to expand the
scope of responsibilities of Foley & Lardner LLP to provide additional
services for matters arising in the ordinary course of the Debtors'
businesses.

Consequently, the Debtors notified the Court and other parties-
in-interest of their intent to employ and compensate Foley as an
"ordinary course professional," within the meaning of the Court's
March 16, 2005 Order authorizing the employment of ordinary
course professionals.

Anup Sathy, Esq., at Kirkland & Ellis LLP, in Chicago, Illinois,
notes that since the Petition Date, the Debtors' needs for
Foley's issuance on matters arising in the ordinary course of
their businesses have increased.  The Debtors' management
believes that the attorneys at Foley are well-qualified to act on
the Debtors' behalf given their extensive knowledge and expertise
in the specific fields in which they are employed.

Following expiration of the notice period, contemplated by the
OCP Order, in April 2006, Foley was employed, and continues to be
compensated, as an ordinary course professional for "certain
labor and employment and other commercial matters that arise in
the ordinary course of the Debtors' businesses."

The OCP Order provides that the Debtors' payment of the fees,
excluding costs and disbursements, to each of the professionals
will not exceed (a) $25,000 per month, and (b) $450,000, in the
aggregate, over the course of the Debtors' reorganization cases.
Any payments in excess of the fee caps will not be made by the
Debtors without prior authority from the Court.

Mr. Sathy relates that for the month of October 2006, and
possibly November as well, Foley has exceeded the Monthly Fee Cap
by approximately $17,000, largely as a result of services
provided for a recent U.S. Equal Employment Opportunity
Commission investigation involving the Debtors.  Foley will,
thus, have to request payment of the first $25,000 of the October
and possibly November bills in accordance with the OCP Order.

By this supplemental application, the Debtors ask the Court to
enter a ruling supplementing the retention and employment of
Foley as their special labor negotiation counsel under Section
327(e) of the Bankruptcy Code, by permitting the submission of
Excess OCP Fees to the Court and other parties-in-interest for
approval, despite the Monthly Fee Cap imposed by the OCP Order.

At this time, the Debtors do not ask the Court that Foley be
permitted to exceed the OCP Order's aggregate case cap of
$450,000 for OCP Work, Mr. Sathy says.  The scope of Foley's
services will be the same as previously authorized in the
Employment Order.

The Debtors submit that Foley does not hold or represent any
interest adverse to the Debtors or their estates with respect to
the matters for which Foley is to be employed.

Headquartered in Grand Rapids, Michigan, Tower Automotive, Inc.
-- http://www.towerautomotive.com/-- is a global designer and
producer of vehicle structural components and assemblies used by
every major automotive original equipment manufacturer, including
BMW, DaimlerChrysler, Fiat, Ford, GM, Honda, Hyundai/Kia, Nissan,
Toyota, Volkswagen and Volvo.  Products include body structures
and assemblies, lower vehicle frames and structures, chassis
modules and systems, and suspension components.  The Company and
25 of its debtor-affiliates filed voluntary chapter 11 petitions
on Feb. 2, 2005 (Bankr. S.D.N.Y. Case No. 05-10576 through
05-10601).  James H.M. Sprayregen, Esq., Ryan B. Bennett, Esq.,
Anup Sathy, Esq., Jason D. Horwitz, Esq., and Ross M. Kwasteniet,
Esq., at Kirkland & Ellis, LLP, represent the Debtors in their
restructuring efforts.  Ira S. Dizengoff, Esq., at Akin Gump
Strauss Hauer & Feld LLP, represents the Official Committee of
Unsecured Creditors.  When the Debtors filed for protection from
their creditors, they listed $787,948,000 in total assets and
$1,306,949,000 in total debts.


U.S. ENERGY: Gets $2.7 Million from Countryside Deal Termination
----------------------------------------------------------------
U.S. Energy Biogas Corp. received approximately $2.7 million in connection
with the termination of currency swap agreements by which the company
serviced its loan from Countryside Power Income Fund prior to the
company's recent Chapter 11 filing.

The funds received by the company and added to its estate consist of
approximately $670,000 reflecting the remaining value of unsettled swap
transactions under the company's swap agreements with Royal Bank of Canada
and The Toronto-Dominion Bank, and
$2 million in collateral that had been held by TD Bank in
support of the swap agreements.

The company stated that it received the funds upon confirmation by RBC and
TD Bank that Countryside had returned to the banks
a total of approximately CDN$849,000 paid to Countryside on Nov. 29, 2006
by the banks.  While the banks’ payments were made on the company’s behalf
under their swap agreements, the company did not make corresponding
November payments to the banks in light
of its Chapter 11 filing, and therefore the banks’ payments to Countryside
subsequently were reversed.

Prior to its Chapter 11 filing, the company's annual principal and
interest payments to Countryside were approximately
CDN$13.4 million, or approximately CDN$22.6 million recorded
by Countryside as cash flow available for distributions for the twelve
month period ended Sept. 30, 2006.

                          About U.S. Energy

Headquartered in Avon, Connecticut, U.S. Energy Biogas Corp. --
http://www.usenergysystems.com/-- develops landfill gas projects
in the United States.  Formerly known as Zahren Alternative Power
Corporation or ZAPCO, the company was formed in May 2001 after
ZAPCO's acquisition by U.S. Energy Systems, Inc.  Currently, the
Debtor owns and operates 23 LFG to energy projects with 52
megawatts of generating capacity.  The Debtor and 31 of its
affiliates filed separate voluntary chapter 11 petitions on
Nov. 29, 2006 (Bankr. S.D.N.Y. Case Nos. 06-12827 through 06-
12857).  Joseph J. Saltarelli, Esq., at Hunton & Williams
represents the Debtors in their restructuring efforts.  When the
Debtors filed for protection from their creditors, they listed
estimated assets and debts of more than $100 million.


UPSNAP INC: Bedinger & Company Raises Going Concern Doubt
---------------------------------------------------------
Bedinger & Company expressed substantial doubt about UpSNAP Inc.'s ability
to continue as a going concern after auditing the company's financial
statements for the fiscal years ended
Sept. 30, 2006 and 2005.  The auditing firm pointed to the company's
recurring losses from operations.  The Company has accumulated net losses
from operations from inception through Sept. 30, 2006 of $1,974,428.

For Fiscal 2006, the company posted revenues of $742,851 and a net loss of
$1,788,368.  These results compare to zero revenue and a net loss of
$158,586 for fiscal 2005.

At Sept. 30, 2006, the company's balance sheet showed $6,523,106 in total
assets, $250,349 in total liabilities and stockholders' equity of
$6,272,757.

A full-text copy of the company's annual report is available for free at
http://researcharchives.com/t/s?1796

                          CEO Comments

Tony Philipp, CEO of UpSNAP, said, "Fiscal 2006 was an excellent year for
UpSNAP.  We have built out one of the world's largest and most compelling
audio entertainment platforms, signed up thousands of merchants for our
pay-per-call platform, and developed a highly scaleable business model to
exploit new opportunities in mobile search and entertainment.

"Fiscal 2006 showed good early adoption and customer acquisition. Our
gross margin at over 45% is one of the highest in the wireless content
industry.  In fiscal year 2007, we will move forward to actively market
and promote our search, entertainment and sports products and to lay the
foundation for building substantial shareholder value."

UpSNAP's registered user base grew to over 2.33 million registered
customers in fiscal 2006, and UpSNAP added thousands of new content
providers and services.

"The US consumer market is showing strong growth in mobile data and text
messaging.  We are seeing strong demand for our products, which we will
market aggressively to the 210 million mobile phone users in the United
States during 2007, said Mr. Philipp.

                          About UpSNAP

UpSNAP, Inc. (NASDAQ: UPSN.OB) -- http://www.upsnap.com/-- provides
mobile search and live mobile audio entertainment.  UpSNAP services
include text and audio content from major entertainment companies in
sports, news, music, and information.


VAIL RESORTS: Moody’s Holds B1 Rating on $390 Million Senior Notes
------------------------------------------------------------------
Moody's Investors Service affirmed all ratings of Vail Resorts Inc., and
changed the outlook to positive from stable.

Ratings affirmed:

   -- Corporate family rating rated Ba3

   -- Probability of default rating rated Ba3

   -- $390 million, 6.75% guaranteed senior subordinated notes,
      due Feb. 15, 2014, rated B1, LGD5, 75%

Outlook changed to positive from stable.

The Ba3 corporate family rating reflects Vail's:

   -- high quality and well located resorts;

   -- strong brand names;

   -- significant competitive barriers to entry in the ski
      industry; and,

   -- low real estate development exposure, as well as improved
      operating performance, debt protection metrics, and
      liquidity.

However, the ratings also reflect the concentration of earnings,
significant reliance on weather conditions, and capital intensive nature
of the ski industry.

In addition, Vail is heavily reliant on the fly-to customer which is more
sensitive to competitive pressures and geopolitical events than drive-too,
as well as the challenge of trying to judge near term demand given the
relatively short booking window. The change in outlook to positive from
stable reflects the company's steady improvement in operating performance,
debt protection metrics, and liquidity.

Vail Resorts, Inc., headquartered in Vail Colorado, owns and operates the
Vail, Beaver Creek, Breckenridge and Keystone ski resorts in Colorado,
Heavenly Resort in California and Nevada, the Grand Teton Lodge Company in
Jackson Hole, Wyo., and the RockResort Hotel company.


VALASSIS COMMS: Amended ADVO Merger Pact Cues S&P to Hold Watch
---------------------------------------------------------------
Standard & Poor's Ratings Services reported that its 'BB' ratings for
Valassis Communications Inc. remain on CreditWatch with negative
implications where they were placed on June 26, 2006.

The CreditWatch update comes after Valassis' report that it has amended
its merger agreement to acquire ADVO Inc. for $33 per share in cash, or
$1.2 billion including the assumption of
$125 million in debt at ADVO.  This compares to $37 per share plus debt
assumption in the original agreement.  As a part of the agreement,
Valassis and ADVO have agreed to dismiss with prejudice their pending
litigation in the Delaware Court of Chancery.

In addition, Valassis reported that evidence from the trial discovery
process would not support the conclusion that ADVO or any of its
representatives engaged in fraud or misconduct in connection with the
parties' entry into their original
merger agreement.

Standard & Poor's expects to resolve the CreditWatch listing once the
financing for the acquisition is known, and after a review of the combined
company's businesses, both of which have been under pressure, and the
company's financial policy.  Valassis expects the acquisition to close in
the first quarter of 2007.


WALTER INDUSTRIES: Moody's Withdraws Rating on $175 Million Notes
-----------------------------------------------------------------
Moody's Investors Service has withdrawn the rating on Walter Industries,
Inc.'s $175 million convertible senior subordinated notes.

More than $174 million principal amount of the notes have converted to
equity.  No other ratings are affected by this action.

Rating Withdrawn:

   * Walter Industries, Inc.

      -- $175 million 3.75% Convertible Senior Subordinate Notes
         due May 1, 2024, B2, LGD5, 82%

Walter Industries, Inc., based in Tampa, Fla., is a diversified company
with operations in homebuilding, related financing, and is a producer of
natural gas and high-quality metallurgical coal for worldwide markets.
For the trailing twelve months ending Sept. 30, 2006, Walter Industries
reported sales of approximately $3.2 billion.


WEBSTER CDO: Moody's Rates $9 Million Class B-3L Notes at Ba1
-------------------------------------------------------------
Moody's Investors Service assigned ratings to Notes, Preference Shares and
Combination Securities issued by Webster CDO I, Ltd.:

   -- Aaa to $609,000,000 Class A-1LA Revolving Notes Due April
      2047;

   -- Aaa to $158,000,000 Class A-1LB Floating Rate Notes Due
      April 2047;

   -- Aa2 to $70,000,000 Class A-2L Floating Rate Notes Due April
      2047;

   -- A2 to $59,000,000 Class A-3L Floating Rate Deferrable Notes
      Due April 2047;

   -- Baa1 to $10,000,000 Class A-4L Floating Rate Deferrable
      Notes Due April 2047;

   -- Baa2 to $32,000,000 Class B-1L Floating Rate Deferrable
      Notes Due April 2047;

   -- Baa3 to $10,000,000 Class B-2L Floating Rate Deferrable
      Notes Due April 2047;

   -- Ba1 to $9,000,000 Class B-3L Floating Rate Deferrable Notes
      Due April 2047;

   -- B2 to 43,000,000 Preference Shares; and,

   -- A2 to $10,000,000 Class P1 Combination Notes due April
      2047.

The Moody's ratings of the Notes address the ultimate cash receipt of all
required interest and principal payments, as provided by the Notes'
governing documents, and are based on the expected loss posed to
noteholders, relative to the promise of receiving the present value of
such payments.  The Moody's rating of the Preference Shares addresses only
the ultimate receipt of the Preference Shares Stated Amount and the rating
of the Combination Securities addresses only the ultimate receipt of the
"Rated Balance".

The ratings reflect the risks due to the diminishment of cash flow from
the underlying portfolio consisting of RMBS Securities, CMBS Securities,
CDO Securities, and other Asset-Backed Securities due to defaults, the
transaction's legal structure and the characteristics of the underlying
assets.

Vanderbilt Capital Advisors, LLC will manage the selection, acquisition
and disposition of collateral on behalf of the issuer.


WERNER LADDER: Ct. Expands Panel Consultant's Scope of Employment
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware approved the
request of the Official Committee of Unsecured Creditors appointed in
bankruptcy cases of Werner Holding Co. (DE), Inc., aka Werner Ladder
Company, and its debtor-affiliates, to expand the scope and duration of
Neil J. Minihane's employment as its consultant.

Pursuant to a Supplement Engagement Letter dated Nov. 21, 2006 with the
Committee, Mr. Minihane will continue to:

   (a) review and analyze the Debtors' historical financial and
       operations data relating to their operations in Chicago,
       Illinois and Juarez, Mexico, including, profits and loss
       information and cash usage analyses relating to these
       facilities;

   (b) assess and periodically advise the Committee regarding the
       status and progress of the transition of the Debtors'
       operations from Chicago to Juarez, including delivering a
       weekly summary report to the Committee every Friday, and
       providing suggestions or recommendations as may be
       appropriate or necessary;

   (c) advise and attend meetings of the Committee and its
       professionals, as appropriate;

   (d) advise and attend meetings with third parties, including
       the Debtors, as may be requested by the Committee;

   (e) be reasonably available for follow-up questions by the
       Committee concerning the report; and

   (f) perform general consulting services with respect to the
       Debtors' overall operations.

Under the Supplement Engagement Letter, Mr. Minihane will perform
the additional services to the Committee through and including
Dec. 31, 2006.

Mr. Minihane will be:

   (i) paid $15,000 per week, for a period of five weeks, or as
       extended by a Court order, commencing upon Court approval
       of the Supplemental Application; and

  (ii) reimbursed for reasonable and necessary expenses relating
       to the services provided.

Pursuant to the Supplement Engagement Letter, the Committee sought the
Court's authority for the Debtors' estates to continue to pay
85% of Mr. Minihane subsequent $15,000 weekly payments on an
interim basis, at the beginning of each week until Dec. 31,
2006, or as extended by the Court.  The Committee believed it is
reasonable to allow Mr. Minihane to receive interim compensation
as services are performed, subject to Court approval on a final
basis, because he is not employed by a large company.

Mr. Minahe assured the Court that he does not hold or represent
any interest adverse to the Committee or the bankruptcy estates.
He maintains that he is a "disinterested person" as that term is
defined in Section 101 (14) of the Bankruptcy Code.

Headquartered in Greenville, Pennsylvania, Werner Holding Co. (DE), Inc.
aka Werner Ladder Co. -- http://www.wernerladder.com/
-- manufactures and distributes ladders, climbing equipment and ladder
accessories.  The company and three of its affiliates filed for chapter 11
protection on June 12, 2006 (Bankr. D. Del. Case No. 06-10578).

The firm of Willkie Farr & Gallagher LLP serves as the Debtors'
counsel.  Kara Hammond Coyle, Esq., Matthew Barry Lunn, Esq., and
Robert S. Brady, Esq., Young, Conaway, Stargatt & Taylor, LLP,
represents the Debtors as its co-counsel.  The Debtors have
retained Rothschild Inc. as their financial advisor.  Greenberg
Traurig LLP is counsel to the Official Committee of Unsecured
Creditors.  Jefferies & Co serves as the Committee's financial
advisor.

At March 31, 2006, the Debtors reported total assets of
$201,042,000 and total debts of $473,447,000.


WERNER LADDER: Committee Hires Saul Ewing as Conflicts Counsel
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized the
Official Committee of Unsecured Creditors appointed in the bankruptcy
cases of Werner Holding Co. (DE), Inc., aka Werner Ladder Co. and its
debtor-affiliates to retain Saul Ewing LLP as its conflicts counsel, nunc
pro tunc to Aug. 28, 2006.

As reported in the Troubled Company Reporter on Oct. 26, 2006, Jason D.
Schauer of Levine Leichtman Capital Partners, co-chair
of the Committee, related that the Committee's counsel, Greenberg
Traurig, LLP, had determined that it represented certain creditors or
other parties-in-interest in other matters wholly unrelated to the
Debtors' chapter 11 cases.  The firm's representation of these creditors
or parties-in-interest were previously disclosed to the Court.  Greenberg
advised the Committee that the panel needs to retain a special "conflicts"
counsel to represent the Committee's interests vis-a-vis those entities in
the Debtors' chapter 11 cases or otherwise investigate and commence any
appropriate causes of action against those entities.

In particular, Mr. Schauer told the Court, Greenberg represented WXP,
Inc., in matters unrelated to the Debtors' bankruptcy cases.
Thus, the Committee wanted Saul Ewing to advise and represent the
Committee with respect to matters involving WXP as well as any
other matters related to the cases with which Greenberg has a
conflict or otherwise cannot represent the Committee's interests.

To the extent that Greenberg would not provide services to the
Committee, Saul Ewing, as directed by the Committee, is expected to:

   (a) advise the Committee with respect to its rights, duties
       and powers in the Debtors' Chapter 11 cases;

   (b) assist and advise the Committee in its consultation with
       the Debtors relative to the administration of the Debtors'
       cases;

   (c) assist the Committee in analyzing the claims of the
       Debtors' creditors and the Debtors' capital structure and
       in negotiating with holders of claims and equity
       interests;

   (d) assist the Committee in its investigation of the acts,
       conduct, assets, liabilities, and financial condition of
       the Debtors and of the operation of the Debtors'
       businesses;

   (e) assist the Committee in its investigation of the liens and
       claims of the Debtors' prepetition lenders and the
       prosecution of any claims or causes of action revealed by
       the investigation;

   (f) assist the Committee in its analysis of, and negotiations
       with, the Debtors or any third party concerning matters
       related to, among other things, the assumption or
       rejection of certain non-residential real property leases
       and executory contracts, asset dispositions, financing of
       other transactions, and the terms of one or more plans of
       reorganization for the Debtors and accompanying disclosure
       statements and related plan documents;

   (g) assist and advise the Committee as to its communications
       to creditors regarding significant matters in the Debtors'
       Chapter 11 cases;

   (h) represent the Committee at hearings and other proceedings;

   (i) review and analyze applications, orders, statements of
       operations, and schedules filed with the Court, and advise
       the Committee as to their propriety;

   (j) assist the Committee in preparing pleadings and
       applications as may be necessary in furtherance of the
       Committee's interests and objectives;

   (k) prepare, on the Committee's behalf, any pleadings,
       including without limitation, motions, memoranda,
       complaints, adversary complains, objections or comments;
       and

   (l) perform other legal services as may be required or are
       otherwise deemed to be in the interests of the Committee.

According to Mr. Schauer, the members and associates of Saul
Ewing possess extensive knowledge and considerable expertise in
the fields of bankruptcy, insolvency, reorganizations, debtors'
and creditors' rights, debt restructuring and corporate
reorganizations, among others.

The attorneys and paralegals presently designated to be primarily
responsible for representing the Committee, and their current
standard hourly rates are:

          Domenic E. Pacitti, Esq.   Partner       $495
          Mark Minuti, Esq.          Partner        475
          Jeremy W. Ryan, Esq.       Associate      330
          Patrick J. Reilley, Esq.   Associate      260
          G. David Dean, Esq.        Associate      235
          Jason E. Kittinger, Esq.   Paralegal      150

The firm's standard hourly rates are:

          Partners                  $335 - $650
          Special Counsel           $250 - $440
          Associates                $175 - $330
          Paraprofessionals          $95 - $215

Mr. Minuti disclosed that his firm would not advise the Committee
on matters involving QVC, Inc., Murray Capital Management, Inc.,
and Claren Road Asset Management.  Saul Ewing has represented or
represents other significant parties-in-interest in the Debtors'
cases, but only in matters wholly unrelated to the bankruptcy
proceeding.  Mr. Minuti assured the Court that his firm is a
"disinterested person" within the meaning of Section 101(14) of
the Bankruptcy Code.

Headquartered in Greenville, Pennsylvania, Werner Holding Co. (DE), Inc.
aka Werner Ladder Co. -- http://www.wernerladder.com/
-- manufactures and distributes ladders, climbing equipment and ladder
accessories.  The company and three of its affiliates filed for chapter 11
protection on June 12, 2006 (Bankr. D. Del. Case No. 06-10578).

The firm of Willkie Farr & Gallagher LLP serves as the Debtors'
counsel.  Kara Hammond Coyle, Esq., Matthew Barry Lunn, Esq., and
Robert S. Brady, Esq., Young, Conaway, Stargatt & Taylor, LLP,
represents the Debtors as its co-counsel.  The Debtors have
retained Rothschild Inc. as their financial advisor.  Greenberg
Traurig LLP is counsel to the Official Committee of Unsecured
Creditors.  Jefferies & Co serves as the Committee's financial
advisor.

At March 31, 2006, the Debtors reported total assets of
$201,042,000 and total debts of $473,447,000.


WESTPOINT STEVENS: Ct. Adjourns Case Dismissal Hearing to Feb. 21
-----------------------------------------------------------------
The Honorable Robert D. Drain of the U.S. Bankruptcy Court for the
Southern District of New York adjourned the hearing to consider the
request of WestPoint Stevens, Inc., to dismiss their Chapter 11 cases to
Feb. 21, 2007, at 10:00 a.m.

The Court previously rescheduled the hearing for Dec. 14,
2006.

Having sold substantially all of their assets and having ceased
operation of their remaining businesses, the Debtors, in August
2006, asked the Court to dismiss their Chapter 11 cases.  The
Debtors said dismissal is their most viable alternative as
continuation will lead to continued loss with no reasonable
likelihood of rehabilitation.

According to the Debtors, only avoidance actions estimated to be
less than $2,000,000 and de minimis assets estimated to be less
than $200,000, remain in their possession.

As reported in the Troubled Company Reporter on Aug. 16, 2005, the Debtors
believed that a chapter 7 conversion is not advisable
because it will increase administrative cost to the estate and
require the appointment of a chapter 7 trustee.

Headquartered in West Point, Georgia, WestPoint Stevens, Inc. --
http://www.westpointstevens.com/-- produces bed linens and bath towels
and also makes comforters, blankets, pillows, table covers, and window
trimmings.  It makes the Martex, Utica, Stevens, Lady Pepperell, Grand
Patrician, and Vellux brands, as well as the Martha Stewart bed and bath
lines; other licensed brands include Ralph Lauren, Disney, and Joe Boxer.
Department stores, mass retailers, and bed and bath stores are its main
customers.  (Federated, J.C. Penney, Kmart, Sears, and Target account for
more than half of sales.) It also has nearly 60 outlet stores.  Chairman
and CEO Holcombe Green controls 8% of WestPoint Stevens.  The Company
filed for chapter 11 protection on June 1, 2003 (Bankr. S.D.N.Y. Case No.
03-13532).  John J. Rapisardi, Esq., at Weil, Gotshal & Manges, LLP,
represents the Debtors in their restructuring efforts.


WILLIAM HUNG: Chapter 15 Petition Summary
-----------------------------------------
Petitioner: The Official Receiver and Trustee of
            the property of William Hung Yu Yang

Debtor: William Hung Yu Yang
        [address not provided]

Case No.: 06-13022

Type of Business: The Debtor owns real property.

Chapter 15 Petition Date: December 14, 2006

U.S. Court: Southern District of New York (Manhattan)

U.S. Judge: Allan L. Gropper

Petitioner's Counsel: Lorraine S. McGowen, Esq.
                      Orrick, Herrington & Sutcliffe LLP
                      666 Fifth Avenue
                      New York, NY 10103
                      Tel: (212) 506-5000
                      Fax: (212) 506-5151

Estimated Assets: $1 Million to $10 Million

Estimated Debts:  $500,000 to $1 Million


WMG ACQUISITION: Moody’s Holds Ba3 Ratings with Positive Outlook
----------------------------------------------------------------
Moody's changed WMG Holdings Corp.'s outlook to positive from stable and
affirmed its Ba3 corporate family rating and Ba3 probability of default
rating.

Moody's also affirmed the B2 senior discount note rating and LGD6
assessment for WMG Holdings Corp as well as the Ba2 senior secured loan
rating and B2 senior subordinated note rating for WMG Acquisitions Corp.

The change in outlook considers WMG's improved credit metrics and
reduction in event risk given the IPO, established dividend and diminished
opportunities for sizable acquisitions.

The company also remedied its remaining material weakness and now is in
compliance with Sarbanes-Oxley.  An upgrade to a Ba2 corporate family
rating would require maintaining current credit metrics and a more
measured approach to acquisitions such that the company stayed within a 5
times leverage range.

WMG's ratings incorporate its strong market position as one of four global
players in the music industry, attractive cash flow margins and
expectations for continued free cash flow growth, offset by challenging
industry conditions and lingering concerns over the company's historic
propensity to favor shareholders over creditors.  WMG's leverage declined
to 4.8x debt-to-EBITDA as of its fiscal year end 2006 as a result of
robust EBITDA growth.  The company is not expected to de-lever materially
over the near term.

Summary of action:

   * WMG Holdings Corp

   * Affirm:

      -- Ba3 Corporate Family Rating
      -- Ba3 Probability of Default Rating
      -- B2, LGD6, 95% Senior Discounted Notes

   * Change:

      -- Positive Outlook from Stable

   * WMG Acquisitions Corp.

   * Affirm:

   -- Ba2, LGD2, 29% Senior Secured Loan
   -- B2, LGD5, 84% Senior Subordinated Notes

Change:

   -- Positive Outlook from Stable

Based in New York, Warner Music Group, is a leading recorded music and
music publishing company.  The company's annual revenue is approximately
$3.52 billion as of year end Sept. 30, 2006.


WOODWIND & BRASSWIND: Hires Barnes & Thornburg as Special Counsel
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Indiana authorized
Dennis Bamber Inc. dba The Woodwind & the Brasswind to employ Barnes &
Thornburg LLP as its special counsel.

The Debtor informs the Court that Barnes & Thornburg's retention is
necessary to represent it in connection with special matters.  The firm
previously served as the Debtor's general counsel since its incorporation
prior to the Debtor's bankruptcy filing.

Barnes & Thornburg is expected to:

   a) provide the Debtor legal advice with respect to matters
      involving its intellectual property;

   b) provide the Debtor legal advice with respect to matters
      involving its Indiana corporate law issues, and in
      connection with the handling of the remaining compliance
      issues required of a special counsel under that certain
      Asset Purchase Agreement between the Debtor and Musician's
      Friend, Inc., dated Nov. 22, 2006, in connection with the
      proposed sale of the Debtor's assets;

   c) provide the Debtor legal advice with respect to matters
      involving its labor issues, including but not limited to,
      providing advice in connection with compliance with the
      Debtor's duties under the WARN Act and related employee
      matters; and

   d) provide the Debtor legal advice with respect to matters
      involving its environmental law, employee benefit plans,
      product liability matters, and healthcare issues.

Philip J. Faccenda, Jr., Esq., a Barnes & Thornburg member, discloses that
the firm's professionals will charge the Debtor ranging from $165 to $350
per hour for their work.  The firm received a $145,000 prepetition
retainer.

Mr. Faccenda assures the Court that his firm does not represent nor hold
any interest adverse to the Debtor or its estate.

Mr. Faccenda can be reached at:

        Barnes & Thornburg LLP
        100 North Michigan
        600 1st Source Bank Center
        South Blend, IN 46601

Headquartered in South Bend, Indiana, The Woodwind & the Brasswind
-- http://www.wwbw.com/-- sells musical instruments and
accessories.  The Company filed for chapter 11 protection on
Nov. 24, 2006 (Bankr. N.D. Ind. Case No. 06-31800).  Chad H. Gettleman,
Esq., Henry B. Merens, Howard L. Adelman, Esq., and Nathan Q. Rugg, Esq.,
at Adelman, Gettleman, Ltd., represent the Debtor in its restructuring
efforts.  The Official Committee of Unsecured Creditors appointed in the
Debtors' cases has selected James M. Carr, Esq., at Baker & Daniels LLP as
its counsel.  When the Debtors filed for protection from their creditors,
they estimated assets and debts between $1 million and $100 million.


WOODWIND & BRASSWIND: U.S. Trustee Amends Committee Membership
--------------------------------------------------------------
The U.S. Trustee for Region 10 amended the list of creditors to serve on
an Official Committee of Unsecured Creditors in Dennis Bamber Inc. dba The
Woodwind & the Brasswind's chapter 11 case.

Papers filed with the Court did not disclose the reasons for the
amendment.

The amended committee is now composed of:

   1. Judy Schuchart
      Conn-Selmer, Inc.
      P.O. Box 66980
      Indianapolis, IN 46266
      Tel: (800) 348-7567 ext. 1694

   2. Bruce Silva
      Buffet Crampon USA, Inc.
      38889 Eagle Way
      Chicago, IL 60678-1388
      Tel: (866) 434-9240 ext. 214

   3. Rodrigo Cucalon
      Loud Technologies, Inc.
      16220 Wood-Reo Rd. NE
      Woodinville, WA 98072
      Tel: (800) 258-6883 ext. 6135

   4. Lawrence T. Festa, III
      Fox Products Corporation
      P.O. Box 347
      South Whitley, IN 46787
      Tel: (260) 723-4888

   5. Rich Fey
      Midland Paper Co.
      101 E. Palatine Rd.
      Wheeling, IL 60090
      Tel: (847) 777-2740

   6. Bill Grisham
      Pearl Corporation
      549 Metroplex Dr.
      Nashville, TN 37211
      Tel: (625) 833-4477 ext. 3134

   7. Raymond P. Moe
      Getzen Co., Inc.
      530 S. County Rd. H
      P.O. Box 440
      Elkhorn, WI 53121
      Tel: (262) 723-4221

   8. Rana Singh
      Amati USA, Inc.
      1124 Globe Ave.
      P.O. Box 1429
      Mountainside, NJ 07092
      Tel: (800) 721-7878

   9. Denise Benner
      Roland Corporation U.S.
      5100 S. Eastern Avenue
      Los Angeles, CA 90040
      Tel: (323) 890-3763

  10. Scott Emmerman
      Phonic America
      108 Old Markham Pl.
      Chapel Hill, NC 27514
      Tel: (813) 786-3632

  11. James Fulton
      Crowe Chizek & Company, LLC
      330 E. Jefferson Blvd.
      South Bend, IN 46601
      Tel: (574) 235-6812

  12. Keith Gard
      Jupitar Band Instruments, Inc.
      11310 Highway 290
      West Austin, TX 78737
      Tel: (800) 283-4676

  13. Greg Grieme
      DANSR, Inc.
      4108 Fieldstone Rd., Suite A
      Champaign, IL 61822
      Tel: (217) 531-0620 ext. 15

  14. Garry Gryczan
      U.S. Music Corp.
      444 E. Courtland St.
      Mundelein, IL 60060
      Tel: (847) 949-0444 ext. 5708

  15. Michael Toporek
      Gemstone Musical Instruments
      317 Madison Avenue, Suite 405
      New York, NY 10017
      Tel: (212) 302-8558

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at the Debtors'
expense.  They may investigate the Debtors' business and financial
affairs.  Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.  Those
committees will also attempt to negotiate the terms of a
consensual chapter 11 plan -- almost always subject to the terms
of strict confidentiality agreements with the Debtors and other
core parties-in-interest.  If negotiations break down, the
Committee may ask the Bankruptcy Court to replace management with
an independent trustee.  If the Committee concludes reorganization
of the Debtors is impossible, the Committee will urge the
Bankruptcy Court to convert the chapter 11 cases to a liquidation
proceeding.

Headquartered in South Bend, Indiana, The Woodwind & the Brasswind
-- http://www.wwbw.com/-- sells musical instruments and
accessories.  The Company filed for chapter 11 protection on
Nov. 24, 2006 (Bankr. N.D. Ind. Case No. 06-31800).  Chad H. Gettleman,
Esq., Henry B. Merens, Howard L. Adelman, Esq., and Nathan Q. Rugg, Esq.,
at Adelman, Gettleman, Ltd., represent the Debtor in its restructuring
efforts.  The Official Committee of Unsecured Creditors appointed in the
Debtors' cases has selected James M. Carr, Esq., at Baker & Daniels LLP as
its counsel.  When the Debtors filed for protection from their creditors,
they estimated assets and debts between $1 million and $100 million.


* Upcoming Meetings, Conferences and Seminars
---------------------------------------------
January 11, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Lender's Panel
         University Club, Jacksonville, FL
            Contact: http://www.turnaround.org/

January 12, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Annual Lender's Panel Breakfast
         Westin Buckhead, Atlanta, GA
            Contact: http://www.turnaround.org/

January 17, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      South Florida Dinner
         TBA, South FL
            Contact: 561-882-1331 or http://www.turnaround.org/

January 17-19, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Distressed Investing Conference
         Wynn, Las Vegas, NV
            Contact: http://www.turnaround.org/

January 19-21, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      3rd Annual Corporate Restructuring Competition
         Kellogg School of Management, Chicago, IL
            Contact: http://www.abiworld.org/

January 23, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      2007 Outlook on Healthcare Restructuring
         Center Club, Baltmore, MD
            Contact: http://www.turnaround.org/

January 24, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Year 2007 Kick-Off Party
         Oak Hill Country Club, Rochester, NY
            Contact: 716-440-6615 or http://www.turnaround.org/

January 25-27, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      Rocky Mountain Bankruptcy Conference
         Hyatt Regency, Denver, CO
            Contact: 1-703-739-0800 or http://www.abiworld.org/

January 29, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Men’s College Basketball & Networking
         Wachovia Center, Philadelphia, PA
            Contact: 215-657-5551 or http://www.turnaround.org/

January 30-31, 2007
   EUROMONEY INSTITUTIONAL INVESTOR
      Korea Securitisation and Structured Credit Summit
         JW Marriott Hotel, Seoul, South Korea
            Contact: http://www.euromoneyplc.com/

January 31 to February 1, 2007
   EUROMONEY INSTITUTIONAL INVESTOR
      Asia M&A Forum
         Island Shangi-La, Hong Kong
            Contact: http://www.euromoneyplc.com/

February 2007
   AMERICAN BANKRUPTCY INSTITUTE
      International Insolvency Symposium
         San Juan, Puerto Rico
            Contact: 1-703-739-0800 or http://www.abiworld.org/

February 5, 2007
   STRATEGIC RESEARCH INSTITUTE
      3rd Annual Tranche B & 2nd Lien Financing Summit
         Scottsdale, AZ
            Contact: http://www.euromoneyplc.com/

February 8-9, 2007
   EUROMONEY CONFERENCES
      2nd Philippine Investment Conference
         Cebu Convention Center, Cebu, Philippines
            Contact: http://www.euromoneyplc.com/

February 8-9, 2007
   EUROMONEY
      Leverage Finance Asia
         JW Marriott Hong Kong
            Contact: http://www.euromoneyplc.com/

February 8-11, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Certified Turnaround Professional (CTP) Training
         NY/NJ
            Contact: http://www.turnaround.org/

February 15, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Men’s College Basketball & Networking
         Wachovia Center, Philadelphia, PA
            Contact: 215-657-5551 or http://www.turnaround.org/

February 16, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Wharton Restructuring Conference
         The Wharton School
            Philadelphia, PA
               Contact: http://www.turnaround.org/

February 21-22, 2007
   EUROMONEY
      Euromoney Pakistan Conference
         Perceptions & Realities
            Marriott Hotel, Islamabad, Pakistan
               Contact: http://www.euromoneyplc.com/

February 22, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA PowerPlay - Atlanta Thrashers
         Philips Arena, Atlanta, GA
            Contact: 678-795-8103 or http://www.turnaround.org/

February 22, 2007
   EUROMONEY
      2nd Annual Euromoney Japan Forex Forum
         Mandarin Oriental, Tokyo, Japan
            Contact: http://www.euromoneyplc.com/

February 25-26, 2007
   NORTON INSTITUTES
      Norton Bankruptcy Litigation Institute
         Marriott Park City, UT
            Contact: http://www2.nortoninstitutes.org/

February 27, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Devil Rays Turnaround
         Centre Club, Tampa, FL
            Contact: http://www.turnaround.org/

February 27-28, 2007
   EUROMONEY INSTITUTIONAL INVESTOR
      5th Annual Corporate Restructuring Summit
         Sheraton Park Lane Hotel, London, UK
            Contact: http://www.euromoneyplc.com/

March 1, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      Nuts and Bolts for Young Practitioners - West
         Regency Beverly Wilshire, Los Angeles, CA
            Contact: http://www.abiworld.org/

March 2, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      15th Annual Bankruptcy Battleground West
         Regency Beverly Wilshire, Los Angeles, CA
            Contact: http://www.abiworld.org/

March 15, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Martini Madness Cocktail Reception with Geraldine Ferraro
         Westin Buckhead, Atlanta, GA
            Contact: 678-795-8103 or http://www.turnaround.org/

March 15-18, 2007
   NATIONAL ASSOCIATION OF BANKRUTPCY TRUSTEES
      NABT Spring Seminar
         Ritz-Carlton Buckhead, Atlanta, GA
            Contact: http://www.NABT.com/

March 18-21, 2007
   INSOL
      Annual Europe, Africa & Middle East Conference
         Cape Town, South Africa
            Contact: http://www.insol.org/CapeTown07/

March 21, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      South Florida Dinner
         TBA, South FL
            Contact: 561-882-1331 or http://www.turnaround.org/

March 21-22, 2007
   EUROMONEY
      2nd Annual Vietnam Investment Forum
         Melia, Hanoi, Vietnam
            Contact: http://www.euromoneyplc.com/

March 21-22, 2007
   EUROMONEY
      Euromoney Indian Financial Market Congress
         Grand Hyatt, Mumbai, India
            Contact: http://www.euromoneyplc.com/

March 22-23, 2007
   EUROMONEY INSTITUTIONAL INVESTOR
      Euromoney Indonesian Financial Markets Congress
         Bali, Indonesia
            Contact: http://www.euromoneyplc.com/

March 27, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      "The Six Keys of Sustained Profitable Growth"
      Rodney Page, Senior Partner of Blue Springs Partners
         Citrus Club, Orlando, FL
            Contact: http://www.turnaround.org/

March 27-31, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Spring Conference
         Four Seasons Las Colinas, Dallas, Texas
            Contact: http://www.turnaround.org/

March 29-31, 2007
   ALI-ABA
      Chapter 11 Business Reorganizations
         Scottsdale, Arizona
            Contact: 1-800-CLE-NEWS; http://www.ali-aba.org/

April 11–15, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      ABI Annual Spring Meeting
         J.W. Marriott, Washington, DC
            Contact: 1-703-739-0800; http://www.abiworld.org/

April 12, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon
         University Club, Jacksonville, FL
            Contact: 561-882-1331 or http://www.turnaround.org/

April 12, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      Nuts and Bolts for Young Practitioners - East
         JW Marriott, Washington, DC
            Contact: http://www.abiworld.org/

April 20, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Breakfast meeting with Chapter President, Bruce Sim
         Westin Buckhead, Atlanta, GA
            Contact: 678-795-8103 or http://www.turnaround.org/

April 24, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      "Why Prospects Become Clients"
      Mark Fitzgerald, President of Sales Training Institute Inc
         Centre Club, Tampa, FL
            Contact: http://www.turnaround.org/

April 26-27, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      1st Annual Credit & Bankruptcy Symposium
         Mohegan Sun, Uncasville, CT
            Contact: http://www.turnaround.org/

April 26-28, 2007
   ALI-ABA
      Fundamentals of Bankruptcy Law
         Philadelphia, PA
            Contact: http://www.ali-aba.org

April 29 - May 1, 2007
   INTERNATIONAL BAR ASSOCIATION
      International Insolvency Conference
      Zurich, Switzerland
            Contact: http://www.ibanet.org/

May 4, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      Nuts and Bolts for Young Practitioners - NYC
         Alexander Hamilton US Custom House, SDNY
         New York, NY
            Contact: http://www.abiworld.org/

May 7, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      9th Annual New York City Bankruptcy Conference
         Millennium Broadway Hotel & Conference Center
         New York, NY
            Contact: http://www.abiworld.org/

May 14, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Annual TMA Atlanta Golf Outing
         White Columns, Atlanta, GA
            Contact: 678-795-8103 or http://www.turnaround.org/

May 16, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      South Florida Dinner
         TBA, South FL
            Contact: 561-882-1331 or http://www.turnaround.org/

June 6-8, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      5th Annual Mid-Atlantic Regional Symposium
         Borgata Hotel Casino & Spa, Atlantic City, NJ
            Contact: http://www.turnaround.org/

June 6-9, 2007
   ASSOCIATION OF INSOLVENCY & RESTRUCTURING ADVISORS
      23rd Annual Bankruptcy & Restructuring Conference
         Westin River North, Chicago, Illinois
            Contact: http://www.airacira.org/

June 14-17, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      Central States Bankruptcy Workshop
         Grand Traverse Resort, Traverse City, Michigan
            Contact: 1-703-739-0800; http://www.abiworld.org/

June 28 - July 1, 2007
   NORTON INSTITUTES
      Norton Bankruptcy Litigation Institute
         Jackson Lake Lodge, Jackson Hole, WY
            Contact: http://www2.nortoninstitutes.org/

July 12, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon
         University Club, Jacksonville, FL
            Contact: 561-882-1331 or www.turnaround.org

July 12-15, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      Northeast Bankruptcy Conference
         Marriott, Newport, RI
            Contact: 1-703-739-0800; http://www.abiworld.org/

July 18, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      South Florida Dinner
         TBA, South FL
            Contact: 561-882-1331 or http://www.turnaround.org/

July 25-28, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      12th Annual Southeast Bankruptcy Workshop
         The Sanctuary, Kiawah Island, SC
            Contact: http://www.abiworld.org/

August 9-11, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      3rd Annual Mid-Atlantic Bankruptcy Workshop
         Hyatt Regency Chesapeake Bay
         Cambridge, MD
            Contact: http://www.abiworld.org/

September 6-8, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      15th Annual Southwest Bankruptcy Conference
         Four Seasons
         Las Vegas, NV
            Contact: http://www.abiworld.org/

September 19, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      South Florida Dinner
         TBA, South FL
            Contact: 561-882-1331 or http://www.turnaround.org/

October 10-13, 2007
   NATIONAL CONFERENCE OF BANKRUPTCY JUDGES
      National Conference of Bankruptcy Judges
         Orlando, Florida
            Contact: http://www.ncbj.org/

October 11, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon
         University Club, Jacksonville, FL
            Contact: 561-882-1331 or http://www.turnaround.org/

October 16-19, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         Marriott Copley Place, Boston, Massachusetts
            Contact: 312-578-6900; http://www.turnaround.org/

October 30, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon
         Centre Club, Tampa, FL
            Contact: 561-882-1331 or http://www.turnaround.org/

December 6–8, 2007
   AMERICAN BANKRUPTCY INSTITUTE
      Winter Leadership Conference
         Westin Mission Hills Resort, Rancho Mirage, California
            Contact: 1-703-739-0800; http://www.abiworld.org/

December 19, 2007
   TURNAROUND MANAGEMENT ASSOCIATION
      South Florida Dinner
         TBA, South FL
            Contact: 561-882-1331 or http://www.turnaround.org/

TBA 2008
   INSOL
      Annual Pan Pacific Rim Conference
         Shanghai, China
            Contact: http://www.insol.org/

January 10, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Luncheon
         University Club, Jacksonville, FL

March 25-29, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Spring Conference
         Ritz Carlton Grande Lakes, Orlando, Florida
            Contact: http://www.turnaround.org/

April 3-6, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      26th Annual Spring Meeting
         The Renaissance, Washington, DC
            Contact: http://www.abiworld.org/

June 4-7, 2008
   ASSOCIATION OF INSOLVENCY & RESTRUCTURING ADVISORS
      24th Annual Bankruptcy & Restructuring Conference
         JW Marriott Spa and Resort, Las Vegas, NV
            Contact: http://www.airacira.org/

June 12-14, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      15th Annual Central States Bankruptcy Workshop
         Grand Traverse Resort and Spa, Traverse City, MI
            Contact: http://www.abiworld.org/

August 16-19, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      13th Annual Southeast Bankruptcy Workshop
         Ritz-Carlton, Amelia Island, FL
            Contact: http://www.abiworld.org/

September 24-27, 2008
   NATIONAL CONFERENCE OF BANKRUPTCY JUDGES
      National Conference of Bankruptcy Judges
         Scottsdale, Arizona
            Contact: http://www.ncbj.org/

October 28-31, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         Marriott Copley Place, Boston, Massachusetts
            Contact: 312-578-6900; http://www.turnaround.org/

December 4-6, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      20th Annual Winter Leadership Conference
         Westin La Paloma Resort & Spa
         Tucson, AZ
            Contact: http://www.abiworld.org/

June 21-24, 2009
   INSOL
      8th International World Congress
         TBA
            Contact: http://www.insol.org/

October 5-9, 2009
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         Marriott Desert Ridge, Phoenix, Arizona
            Contact: 312-578-6900; http://www.turnaround.org/

2009 (TBA)
   NATIONAL CONFERENCE OF BANKRUPTCY JUDGES
      National Conference of Bankruptcy Judges
         Las Vegas, Nevada
            Contact: http://www.ncbj.org/

October 4-8, 2010
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         JW Marriott Grande Lakes, Orlando, Florida
            Contact: http://www.turnaround.org/

2010 (TBA)
   NATIONAL CONFERENCE OF BANKRUPTCY JUDGES
      National Conference of Bankruptcy Judges
         New Orleans, Louisiana
            Contact: http://www.ncbj.org/

   BEARD AUDIO CONFERENCES
      Coming Changes in Small Business Bankruptcy
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Distressed Real Estate under BAPCPA
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Changes to Cross-Border Insolvencies
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Healthcare Bankruptcy Reforms
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Calpine's Chapter 11 Filing
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Changing Roles & Responsibilities of Creditors' Committees
      Audio Conference Recording
         Contact: 240-629-3300;
         http://www.beardaudioconferences.com/

    BEARD AUDIO CONFERENCES
      Validating Distressed Security Portfolios: Year-End Price
      Validation and Risk Assessment
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Employee Benefits and Executive Compensation
      under the New Code
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Dana's Chapter 11 Filing
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Reverse Mergers — the New IPO?
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Fundamentals of Corporate Bankruptcy and Restructuring
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      High-Yield Opportunities in Distressed Investing
         Audio Conference Recording
            Contact: 240-629-3300;
          http://www.beardaudioconferences.com/

   BEARD AUDIO CONFERENCES
      Privacy Rights, Protections & Pitfalls in Bankruptcy
         Audio Conference Recording
            Contact: 240-629-3300;
            http://www.beardaudioconferences.com

   BEARD AUDIO CONFERENCES
      When Tenants File -- A Landlord's BAPCPA Survival Guide
         Contact: http://www.beardaudioconferences.com
         240-629-3300

   BEARD AUDIO CONFERENCES
      Clash of the Titans -- Bankruptcy vs. IP Rights
         Contact: http://www.beardaudioconferences.com
         240-629-3300

The Meetings, Conferences and Seminars column appears in the
Troubled Company Reporter each Wednesday. Submissions via e-mail
to conferences@bankrupt.com are encouraged.

                             *********

Monday's edition of the TCR delivers a list of indicative prices for bond
issues that reportedly trade well below par.  Prices are obtained by TCR
editors from a variety of outside sources during the prior week we think
are reliable.  Those sources may not, however, be complete or accurate.
The Monday Bond Pricing table is compiled on the Friday prior to
publication.  Prices reported are not intended to reflect actual trades.
Prices for actual trades are probably different.  Our objective is to
share information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or sell any
security of any kind.  It is likely that some entity affiliated with a TCR
editor holds some position in the issuers' public debt and equity
securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per share in
public markets.  At first glance, this list may look like the definitive
compilation of stocks that are ideal to sell short.  Don't be fooled.
Assets, for example, reported at historical cost net of depreciation may
understate the true value of a firm's assets.  A company may establish
reserves on its balance sheet for liabilities that may never materialize.
The prices at which equity securities trade in public market are
determined by more than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each Wednesday's
edition of the TCR. Submissions about insolvency- related conferences are
encouraged.  Send announcements to conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed chapter 11 cases
involving less than $1,000,000 in assets and liabilities delivered to
nation's bankruptcy courts.  The list includes links to freely
downloadable images of these small-dollar petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are available at
your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition of the
TCR.

For copies of court documents filed in the District of Delaware, please
contact Vito at Parcels, Inc., at 302-658-9911.  For bankruptcy documents
filed in cases pending outside the District of Delaware, contact Ken
Troubh at Nationwide Research &
Consulting at 207/791-2852.

                             *********

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 is a daily newsletter co-published
by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Marie Therese V. Profetana, Robert Max Victor M. Quiblat II, Shimero
R. Jainga, Joel Anthony G. Lopez, Melvin C. Tabao, Rizande B. Delos
Santos, Cherry A. Soriano-Baaclo, Ronald C. Sy, Jason A. Nieva, Lucilo M.
Pinili, Jr., Tara Marie A. Martin, and Peter A. Chapman, Editors.

Copyright 2006.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or publication
in any form (including e-mail forwarding, electronic re-mailing and
photocopying) is strictly prohibited without prior written permission of
the publishers.  Information contained herein is obtained from sources
believed to be reliable, but is not guaranteed.

The TCR subscription rate is $725 for 6 months delivered via e-mail.
Additional e-mail subscriptions for members of the same firm for the term
of the initial subscription or balance thereof are $25 each.  For
subscription information, contact Christopher Beard at 240/629-3300.

                    *** End of Transmission ***