TCR_Public/160623.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Thursday, June 23, 2016, Vol. 20, No. 175

                            Headlines

440 WEST 164TH: Unit Holder Asks for Chapter 11 Trustee
A GREENER GLOBE: Russell Burbank Named Ch. 11 Trustee
ALFRED RAYMOND LAPETER: Aug. 3 Plan Confirmation Hearing
ALLIED FINANCIAL: Taps Javier A. Feliciano as Special Counsel
AMERIGAS PARTNERS: Fitch Rates Sr. Unsecured Note Offering 'BB'

AMERIGAS PARTNERS: Moody's Assigns Ba3 Rating on $1.35BB Notes
AMSCO STEEL: Liquidating Plan Says Creditor Recoveries Unknown
ANTONIO LUNA: Aug. 11 Plan Confirmation Hearing
APOSTOLIC FAITH MISSION: Taps Milledge Law Firm as Legal Counsel
ARBOR PHARMACEUTICALS: Moody's Assigns B1 CFR, Outlook Stable

ARBOR PHARMACEUTICALS: S&P Assigns 'BB-' CCR, Outlook Stable
ARBOR REALTY: Egan-Jones Cuts Commercial Paper Rating to B
ARMADA WATER: Taps Barnet B. Skelton as Conflicts Counsel
ARMADA WATER: Taps Olsen Skoubye as Special Counsel
ATLANTIC BROADBAND: Moody's Rates Sr. Secured Facility Ba3

BEVERLY SHEPARD: Unsecureds to Recoup 10% Under Plan
BFN OPERATIONS: To Employ Gardere Wynne as Bankruptcy Counsel
BILL BARRETT: Egan-Jones Cuts FC Sr. Unsecured Rating to C
BIND THERAPEUTICS: Announces Resignation of Polaris Directors
BON-TON STORES: Terminates Purchase Agreement With United Trust

BONNIE & CLYDES: Taps Sofranko Advisory Group as Broker
BOOZ ALLEN: Moody's Affirms Ba2 CFR, Rates New 1st Lien Loans Ba2
BOOZ ALLEN: S&P Affirms 'BB' CCR & Revises Outlook to Positive
BREITBURN ENERGY: Section 341(a) Meeting Slated for July 14
C.K. INVESTMENTS: Taps Johnson Law Offices as Special Counsel

CABLEVISION SYSTEMS: Fitch Cuts Issuer Default Rating to B+
CABLEVISION SYSTEMS: S&P Lowers CCR to 'B'; Outlook Stable
CAESARS ENTERTAINMENT: Seeks Court OK of Company Settlement
CAPE COD COMMERCIAL: Taps Frank Ronne & Associates as Appraiser
CAST & CREW: Moody's Affirms 'B3' CFR, Outlook Stable

CAST & CREW: S&P Affirms 'B' CCR on CAPS Acquisition
CERTIFIED ENERGY: Case Summary & 20 Largest Unsecured Creditors
CHENIERE ENERGY: Egan-Jones Lowers FC Sr. Unsec. Rating to B-
CLIMATE CONTROL: Taps Widerman Malek as Special Counsel
COMMUNICATIONS SALES: Moody's Retains B2 CFR on Tower Acquisition

COMMUNICATIONS SALES: Tower Cloud Deal No Impact on Fitch's BB- IDR
COMMUNITY TRANSLATOR: PMCC Wants Trustee Amid Illegal Transfers
CONSTELLATION ENTERPRISES: Russell R. Johnson Represents Utilities
CYPRESS SEMICONDUCTOR: S&P Affirms 'BB-' CCR, Outlook Negative
DEAN ALAN VERHEIDEN: Aug. 18 Plan Confirmation Hearing

DEX MEDIA: Seeks to Hire PwC as Tax Consultant
DIAMONDBACK ENERGY: Egan-Jones Cuts Sr. Unsec. Rating to B+
DIOCESE OF GALLUP: Judge Approves Bankruptcy-Exit Plan
DISTRIBUTION INT'L: S&P Affirms 'B' CCR, Outlook Stable
DOLE FOOD: S&P Affirms 'B-' CCR, Outlook Stable

DONNIE NORRIS: Proposes $375K Private Sale of Florida Property
DUPONT FABROS: S&P Revises Outlook to Pos. & Affirms 'BB-' CCR
DYNACAST INT'L: Moody's Retains B2 CFR on $45MM Loan Add-On
DYNACAST INT'L: S&P Affirms 'B' Rating on Sr. Facilities
EDITH MARTINEZ-CONTRERAS: Unsecureds to Get 0.35 Cents Per Dollar

EIRE MCNAB: Gets Chapter 11 Trustee
ELBIT IMAGING: Reverse Stock Split Takes Effect June 27
ENERGY DEVELOPMENT: Powerdrive's $2.22MM Wins Auction
ENERGY XXI: Egan-Jones Lowers FC Sr Unsec. Rating to D From CCC+
ESSAR STEEL: Enters Into Asset Purchase Agreement with KPS Capital

EXTREME REACH: S&P Raises CCR to 'B', Outlook Stable
FERGUSON CONVALESCENT: UST Wants Chapter 11 Trustee
FLORHAM PARK: Taps Webber McGill as Legal Counsel
FRANCIS MACHI, JR.: Jeffrey Sikirica Named Trustee
GENERAL CABLE: S&P Lowers CCR to 'B' on High Debt Leverage

HALCON RESOURCES: Soliciting Votes for Prepackaged Plan
HANESBRANDS INC: S&P Assigns 'BB' CCR, Outlook Negative
HARKAND GULF: Files for Ch. 15 Bankruptcy to Further UK Liquidation
HERCULES OFFSHORE: Plan Confirmation Hearing Set for July 14
HIDDEN VALLEY APARTMENTS: Plan to Pay $4.1MM Secured Claim in Full

HOUMA DOLLAR: Richardson Buying Commercial Building for $1.04M
I-69 DEVELOPMENT: S&P Retains BB+ Bonds Rating on CreditWatch Neg.
IMMUCOR INC: S&P Lowers CCR to 'CCC+' on Operating Weakness
INNOVATIVE MACHINING: Hires Munshi CPA as Accountant
INTERNET BRANDS: Moody's Affirms B2 CFR on Incremental Loan

INVERRARY RESORT HOTEL: UST Seeks Trustee or Dismissal
INVERRARY RESORT: Taps Edward F. Holodak as Special Counsel
J G SOLIS: Seeks to Hire Jesse Blanco as Legal Counsel
JEFFREY MORTENSON: Court Approves Sale of Personal Property
JESUS RAFAEL CRUZ RODRIGUEZ: July 29 Plan Confirmation Hearing

JOHN DAVIS TRUCKING: Trustee Selling Ford F650 for $30K
JOHN DISANTO: July 12 Plan Confirmation Hearing
JOSEPH SATIRA: July 21 Disclosure Statement Hearing
KAARS INCORPORATION: Case Summary & 8 Unsecured Creditors
KIRKLAND BROS: Plan Outline OK'd, July 12 Confirmation Hearing Set

KLAMON LLC: Taps Nathan Sommers as Legal Counsel
KLM OPTICAL: Unsecureds to Get at Least 45% Under Ch. 11 Plan
KOBE RESTAURANT: Seeks to Hire Robert Bruner as Attorney
L. P. & F. INC: Taps Sader Law Firm as Legal Counsel
LAND SECURITIES: Court Approves Sale of Colorado Property

LAREDO WO: Hires Ray Battaglia as Co-Counsel
LAREDO WO: Seeks to Hire Eric Terry Law as Co-Counsel
LAWRENCE SCHIFF: Court OKs CSS-Led Auction on June 29
LITTLETON PREPARATORY: S&P Affirms 'BB+' Rating on Revenue Bonds
LOCATIONS IX: Taps Pasquale Menna as Legal Counsel

LOCATIONS VII: Taps Pasquale Menna as Legal Counsel
LOUISIANA-PACIFIC CORP: Egan-Jones Cuts FC Unsec. Rating to B+
M SPACE: Files Schedules of Assets and Liabilities
MAPLE BANK: Claims Bar Date Slated for September 19
MARINUS VAN PEENEN: New Jersey Property Sold for $580,000

MARJAN KASAPINOV: July 12 Plan Confirmation Hearing
MARK A. MARTINEZ: Taps Whittle Law Firm as Legal Counsel
MCCORKLE CONCRETE: Taps Hawkins Conrad as Accountant
MEDIWARE INFORMATION: Moody's Assigns B2 CFR, Outlook Stable
MICRO HOLDING: S&P Affirms 'B' CCR on First Lien Add-on

MOHAMMAD ZAMAN: Unsecureds to Get 1% Under Plan
MOUNTAIN PROVINCE: Updates Gahcho Kue Diamond Mine Development
MWI HOLDINGS: Moody's Assigns B3 CFR, Outlook Stable
MWI HOLDINGS: S&P Assigns 'B' CCR, Outlook Stable
NET ELEMENT: Oleg Firer Reports 14.5% Equity Stake as of June 13

NEUSTAR INC: S&P Puts 'BB-' CCR on CreditWatch Negative
NEW DAWN ASSISTED: Affiliate Taps Keen-Summit as Broker
NO PLACE LIKE HOME: Trustee Taps L. Allen Exelbierd as Accountant
NORTHWEST HEALTH SYSTEMS: Confirmation Hearing Set for July 21
OCWEN FINANCIAL: Fitch Affirms 'B-' LT Issuer Default Ratings

OI S.A.: Chapter 15 Case Summary
OI S.A.: Seeks U.S. Recognition of Brazilian Proceeding
PACIFIC EXPLORATION: Announces Closing of $500-Mil. DIP Financing
PACIFIC WEBWORKS: Erkelens & Olson to Auction Surplus Assets
PACKAGING COORDINATORS: Moody's Assigns B2 CFR, Outlook Stable

PAMLAU LLC: Voluntary Chapter 11 Case Summary
PARADIGM EAST HANOVER: Taps Keen-Summit as Real Estate Advisor
PEAK WEB: Seeks to Employ Ropers Majeski as Special Counsel
PHH CORP: Egan-Jones Cuts FC Sr. Unsecured Rating to B From BB-
PHOENIX BRANDS: Creditors' Committee Taps Saul Ewing as Counsel

PILGRIM MEDICAL: Taps Anthony Van Grouw as Accountant
PILGRIM'S PRIDE: S&P Affirms 'BB+' CCR & Revises Outlook to Neg.
PLAZA HEALTHCARE: Hires Oz Law as Employment Litigation Counsel
PNW ARMS: Case Summary & 20 Largest Unsecured Creditors
PORTOFINO TOWERS: Case Summary & Unsecured Creditor

PRELUDE INVESTMENT: Taps Michael Jay Berger as Legal Counsel
PREMIER EXHIBITIONS: Wants to Sell Titanic Artifacts
RAILROAD SALVAGE: Taps Sader Law Firm as Legal Counsel
RAVAGO HOLDINGS: Moody's Assigns B1 CFR, Outlook Stable
RESPONSE BIOMEDICAL: Enters Into Going Private Transaction

RESPONSE BIOMEDICAL: OrbiMed Advisors Has 42.6% Stake as of June 16
RICEBRAN TECHNOLOGIES: Asks Shareholders to Vote for All Nominees
RITA ORTIZ: Selling Brentwood Property for $1.41 Million
ROCKIES EXPRESS: Moody's Affirms Ba2 CFR, Outlook Stable
RUFINO GALARZA: Aug. 25 Plan Confirmation Hearing

SARATOGA RESOURCES: July 19 Hearing on Disclosure Statement
SERVICEMASTER COMPANY: Moody's Raises CFR to Ba3, Outlook Positive
SFX ENTERTAINMENT: Court OKs Exclusivity Extension Thru Aug. 29
SHEEHAN PIPE LINE: Court Sets Sept. 9 as General Claims Bar Date
SILICON ALLEY: Seeks to Hire Kasuri Byck as Legal Counsel

SKAGIT GARDENS: Sec. 341 Meeting of Creditors on July 12
SOUTHCROSS HOLDINGS: S&P Assigns 'CCC+' CCR, Outlook Stable
SOUTHWIRE COMPANY: Moody's Raises CFR to Ba1, Outlook Stable
STEPHEN HARRIS: Powerdrive's $2.22MM Wins Auction
STONE ENERGY: Egan-Jones Cuts FC Sr. Unsecured Rating to C

STRATEGIC PARTNERS: S&P Assigns 'B' CCR, Outlook Stable
SUBURBAN PROPANE: S&P Affirms 'BB-' CCR, Outlook Stable
SUN PROPERTY: Taps Weinberg Gross as Legal Counsel
SUNOCO LP: Fitch Rates $500MM Sr. Unsecured Notes 'BB/RR4'
TALL CITY: Seeks to Hire Jesse Blanco as Legal Counsel

TARRIE HYCHE: Selling Houston, AL Property for $300,000
TEARN DEVELOPMENT: Taps Fitzgerald & Associates as Bankr. Counsel
TERVITA CORP: Won't Make Interest Payment on Sr. Sub. Notes
THERAPEUTICSMD INC: Stockholders Elect 10 Directors
TIERRA DEL REY: Ch.11 Trustee Taps R.A. Snyder as Broker

TODD VOLKER: Selling 22% HHA Stake for $1.32 Million
TRILOGY ENERGY: S&P Lowers CCR to 'B-', Outlook Stable
U.S. SECURITY: Moody's Affirms B3 CFR, Outlook Stable
U.S. SECURITY: S&P Affirms 'B' CCR, Outlook Stable
UCI INTERNATIONAL: 341 Meeting of Creditors Set for July 8

UCI INTERNATIONAL: Court Orders Joint Administration of Cases
UCI INTERNATIONAL: Seeks to Hire A&M, Designate Whittman as CRO
ULTRA PETROLEUM: Committee Taps PJT Partners as Financial Advisor
VANGUARD HEALTHCARE: Panel Taps CohnReznick as Financial Advisor
VANGUARD HEALTHCARE: Taps Jobe Hastings, 3 Other Accountants

VERTELLUS SPECIALTIES: 341 Meeting of Creditors Set for July 11
VERTELLUS SPECIALTIES: Wants to File Schedules by July 15
VISION SOLUTIONS: S&P Affirms Then Withdraws 'B-' CCR
VISUALANT INC: Dale Broadrick Reports 22% Stake as of June 20
WATERPROOFING UNLIMITED: Taps Zalkin Revell as Bankruptcy Counsel

WAYNE COUNTY, MI: Fitch Hikes Issuer Default Rating to BB+
WESTERN ENERGY: S&P Lowers CCR to 'B', Outlook Negative
WILLMAN CONSTRUCTION: Hires Steven Campana as Accountant
WINDSTREAM HOLDINGS: Egan-Jones Cuts FC Sr. Unsec. Rating to B-
WRWM PARTNERSHIP: Hires Flynn Company as Real Estate Broker

ZERGA PHIN-KER: Hartford Objects to Disclosure Statement
ZOWAA INC: Taps Campbell & Coombs as Legal Counsel
[*] Jessica McKinlay Joins Dorsey & Whitney's Bankruptcy Practice
[^] Recent Small-Dollar & Individual Chapter 11 Filings

                            *********

440 WEST 164TH: Unit Holder Asks for Chapter 11 Trustee
-------------------------------------------------------
Inna Khitterer, individually and as assignee of Lothar Kroll,
Andreas Kroll, and Sergei Leontev on June 20, 2016, filed a motion
asking the U.S. Bankruptcy Court for the Southern District of New
York to order the appointment of a Chapter 11 trustee in the
Chapter 11 case of 440 West 164th Street Housing Development Fund
Corporation.

A hearing on the Motion before Judge Robert D. Drain is scheduled
for July 15, 2016, at 10:00 a.m.  Objections are due on July 8,
2016, at 5:00 p.m.  Replies to objections are due July 13.

"The facts and circumstances of this case demonstrate that a
Chapter 11 trustee is warranted here and necessary to protect
parties-in-interest, particularly the interests of the Debtor's
equity holders who are the owners of units at the Debtor's premises
(the "Unit Holders") who have been ill-informed, in fact
misinformed, about a bankruptcy process being overseen by the
Debtor's purported Board president, Mark Schwartz ("Schwartz"), and
his long-time business partner, David Goldwasser ("Goldwasser"),
that is aimed at displacing Unit Holders from their homes at prices
substantially below fair market value.  In this regard, Movant's
easily obtained appraisal demonstrates that the Debtor's property
is worth more than double the amount of Schwartz's proposed plan
"estimate"," counsel to Movant, David Y. Wolnerman, Esq., at White
& Wolnerman, PLLC, explains.

In the Motion, Movant claims that:

   * The purported transfer of Movant's interests in the Debtor to
Schwartz through his entity FIA 164th Street Holdings LLC ("FIA")
was never consummated and, therefore, Schwartz, holding no
ownership in the Debtor, is not authorized to serve as a Board
member.

   * The board is comprised of members who are not eligible to vote
or serve as members of the Board under the Debtor's by-laws because
Schwartz/FIA and various unit holders were more than two months in
arrears at the time of election which bars them from serving on, or
voting for, the Board.

   * The issue of who has corporate authority to act on behalf of
the Debtor has yet to be resolved.  On May 18, 2015, Movant
commenced an adversary proceeding seeking a declaration that the
Nov. 10, 2014 Board election placing Schwartz in his current role
was invalid and void ab initio, because the members purportedly
elected were not authorized to serve on the Board (the "Adversary
Proceeding").  This matter has languished due to multiple
adjournments of the hearing on the Debtor's motion to dismiss.  

   * Schwartz's long-time business partner, Goldwasser, is the
principal of SAC492 071714, LLC ("SAC"), a purported secured
creditor and the lender under Schwartz's proposed Plan.  SAC's
purported secured claim is questionable and, at the very least the
claim should be subject to further discovery and, potentially,
objection.  

   * The various conflicts of interest among the Debtor's proposed
counsel have been hidden from unit holders.  For example, Efrem
Schwalb, Esq., of Koffsky Schwalb, LLC, has filed a notice of
appearance and a motion to dismiss the aforementioned adversary
proceeding on behalf of the Debtor.  Mr. Schwalb, however, is also
of-counsel to the law firm Goldberg & Rimberg, PLLC who are the
attorneys for SAC (Mr. Goldwasser's entity) in this case.

Based upon the foregoing, Movant submits that this case is being
administered for the sole benefit of the Schwartz Parties and to
the extreme detriment of Unit Holders by a purported Board that is
without authority to act on behalf of the Debtor.  Movant avers
that the purported Board should not be allowed to continue to
administer this estate and a Chapter 11 trustee should be appointed
in its stead.

Attorney for Movant:

         WHITE & WOLNERMAN, PLLC
         David Y. Wolnerman, Esq.
         950 Third Ave., 11th Floor
         New York, New York 10022
         Tel: (212) 308-0667
         Fax: (212) 308-7090
         E-mail: dwolnerman@wwlawgroup.com

440 West 164th Street Housing Development Fund Corporation sought
Chapter 11 protection (Bankr. S.D.N.Y. Case No. 15-10817) on May
31, 2015.  Mark A. Frankel, Esq., at Backenroth Frankel & Krinsky,
LLP, serves as counsel to the Debtor.  The Debtor, a Single Asset
Real Estate, disclosed $3.5 million in assets and $1.7 million in
debt.  The petition was signed by Mark Schwartz, officer.


A GREENER GLOBE: Russell Burbank Named Ch. 11 Trustee
-----------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of California
approved the U.S. Trustee's selection of Russell K. Burbank as
Chapter 11 trustee in the Chapter 11 case of A Greener Globe.

Mr. Burbank will have all the powers of a trustee under 11 U.S.C.
Sec. 1106(a).

Compensation will be determined pursuant to 11 U.S.C. Sec. 327,
330, and 331, as applicable when sought by separate application on
notice required by the Federal Rules of Bankruptcy Procedure.

Tracy Hope Davis, U.S. Trustee for Region 17, said that to the best
of her knowledge, Russell K. Burbank has no connection with the
Debtor, the creditors, or any other parties-in-interest in the
case.

On May 25, 2016, the Court entered an order directing the
appointment of a Chapter 11 trustee.

A Greener Globe sought Chapter 11 protection (Bankr. E.D. Cal. Case
No. 16-21900) on March 28, 2016.


ALFRED RAYMOND LAPETER: Aug. 3 Plan Confirmation Hearing
--------------------------------------------------------
Judge Brenda Moody Whinery of the U.S. Bankruptcy Court for the
District of Arizona approved the Amended Disclosure Statement filed
on March 19, 2015, explaining Alfred Raymond Lapeter's plan of
reorganization and fixed August 3, 2016, at 11:00 A.M., as the
initial confirmation hearing.

The last day for filing and serving written objections to
Confirmations of the Plan is fixed at five business days prior to
the hearing date set for Confirmation of the Plan.  The written
report by the proponent, as required by Local Bankruptcy Rule
3018(c), is to be filed three business days prior to the hearing
date set for Confirmation of the Plan.

The bankruptcy case is In re: ALFRED RAYMOND LAPETER, Debtor, Case
No. 4:14-BK-04278-BMW (Bankr. D. Ariz.).

The Debtor is represented by:

          Gerald K. Smith, Esq.
          John C. Smith, Esq.
          GERALD K. SMITH AND JOHN C. SMITH
             LAW OFFICES, PLLC
             ATTORNEYS AT LAW
          6720 E. Camino Principal, Suite 203
          Tucson, AZ 85715
          Tel: (520) 722-1605
          Fax: (520) 722-9096
          Email: gerald@smithandsmithpllc.com
                 john@smithandsmithpllc.com


ALLIED FINANCIAL: Taps Javier A. Feliciano as Special Counsel
-------------------------------------------------------------
Allied Financial Inc. seeks approval from the U.S. Bankruptcy Court
for the District of Puerto Rico to hire Javier A. Feliciano Guzman,
PSC as its special counsel.

The Debtor tapped the firm to provide notarial services in
connection with the judicial sale of Carlos Calero Recio and The
Reef Harbor Inc. properties.

The Debtor will pay the firm $1,935 in connection with the
preparation and execution of documents pertaining to the deed of
judicial sale of The Reef Harbor property, and $1,660 for the Recio
property.  Payments will be made at the time of the closing,
according to court filings.

Javier Feliciano Guzman disclosed in a court filing that his firm
is a "disinterested person" as defined in section 101(14) of the
Bankruptcy Code.

The firm can be reached through:

     Javier Feliciano Guzman, Esq.
     Javier A. Feliciano Guzman, PSC
     322 De Diego Avenue, Suite 302
     San Juan, PR 00920-2223
     Tel: 787-625-2550
     Fax: 787-625-2555
     Email: jfg@jfg-law.com

                     About Allied Financial

Allied Financial, Inc. filed a Chapter 11 bankruptcy petition
(Bankr. D.P.R. Case No. 16-00180) on Jan. 15, 2016.  The petition
was signed by Rafael Portela, president of the Board of Directors.
The Debtor disclosed total assets of $10.3 million and total debts
of $9.14 million.  C. Conde & Assoc. represents the Debtor as
counsel.  Judge Mildred Caban Flores has been assigned the case.


AMERIGAS PARTNERS: Fitch Rates Sr. Unsecured Note Offering 'BB'
---------------------------------------------------------------
Fitch Ratings has assigned a 'BB/RR3' rating to AmeriGas Partners,
LP's (APU) senior unsecured note offering. The notes are being
co-issued with AmeriGas Finance Corp. Proceeds are expected to be
used to fund a tender for all callable debt and for general
partnership purposes. Fitch believes the proposed debt tender
transaction to be marginally positive for APU, with the potential
for modest interest savings and the extension of maturities.

Fitch's Long-Term Issuer Default Rating (IDR) for APU and its fully
guaranteed financing co-borrower, AmeriGas Finance Corp. is 'BB'.
The Rating Outlook is Stable.

APU's ratings reflect the underlying strength and size of its
retail propane distribution network, broad geographic reach,
adequate credit metrics, and proven ability to manage unit margins
under various operating conditions. APU's financial performance
remains sensitive to weather conditions and general customer
conservation, and the partnership must continue to manage volatile
supply costs and customer conservation.

Fitch believes APU management has exhibited its ability and intent
to maintain a stable balance sheet and consistent credit metrics
even in the face of varying market conditions and growth through
acquisitions. APU has proven adept at managing operating costs,
distribution policies, and integrating acquisitions.

KEY RATING DRIVERS

Scale of Business: APU is the largest retail propane distributor in
the country, providing it with significant customer and geographic
diversity. This broad scale and diversity helps to dampen the
weather related volatility of cash flows. APU is the largest retail
propane distributor in the United States with an estimated 15%
market share serving approximately 2 million customers. AmeriGas
has approximately 2,000 locations in all 50 states. Retail gallon
sales are fairly evenly distributed by geography limiting the
impact that unseasonably warm weather could have on a regional
basis.

High Degree of Seasonality: APU is highly seasonal and very
dependent on the winter heating season. A high percentage of
earnings are derived in the first two quarters of each fiscal year
(September fiscal year-end). With an abnormally warm 2015 and first
quarter of 2016 (1Q2016), Fitch expects current year EBITDA to be
negatively impacted. The cylinder exchange business affords some
seasonal diversity, and national accounts are a steady year round
earnings provider. However, weather this past winter nationwide was
much warmer than normal, which will weigh on 2016 results.

Customer Conservation/Attrition: Fitch's primary concern about the
retail propane industry continues to be customer conservation and
attrition. Customer conservation and switching to electric heat
reduces propane demand during high usage periods. Recent propane
price declines and expectations for some price stability at or near
current low levels have alleviated some conservation demand
destruction and helped APU lower its bad debt expense. Electricity
remains the largest competing heat source to propane, but customer
migration to natural gas remains a longer-term competitive factor
as natural gas utilities look to build out systems to serve areas
previously only served by propane and electricity providers.

KEY ASSUMPTIONS

Fitch's key assumptions within the rating case for the issuer
include:

-- Retail and wholesale sales consistent with recent history;

-- Retail and wholesale pricing consistent with current pricing
    for 2016 rising modestly (approximately 2% per year) in the
    outer years;

-- Growth and maintenance capital spending of between $105
    million and $115 million annually.

RATING SENSITIVITIES

Positive: Future developments that may, individually or
collectively, lead to positive rating action include:

-- If leverage (debt/EBITDA) were to improve to between 3.0x to
    3.5x on a sustained basis and distribution coverage were
    expected to remain 1.1x or above on a sustained basis, Fitch
    would consider a positive ratings action.

Negative: Future developments that may, individually or
collectively, lead to a negative rating action include:

-- Leverage above 4.5x times on a sustained basis, with
    distribution coverage below 1.0x would likely lead to a rating

    downgrade.
-- Accelerating deterioration in declining customer, margin and
    or volume trends could lead to a negative ratings action.

LIQUIDITY

Liquidity is adequate, and maturities are manageable. APU's
liquidity is supported by a $525 million revolving credit facility
that is typically used to fund any short-term borrowing needs.
APU's short-term borrowing needs are seasonal and are typically
greatest during the fall and winter heating-season months due to
the need to fund higher levels of working capital. Availability
under the revolver at March 31, 2016 was $396.7 million.

The offering and the proposed tender is expected to push any
significant maturities at APU out to 2022, alleviating near-term
refinancing risks. Fitch does not expect APU to require any
external financing and leverage should remain fairly constant
between 3.5x and 4.0x (debt/EBITDA).

Fitch currently rates APU as follows:

AmeriGas Partners, L.P./AmeriGas Finance Corp.
-- Long-term IDR 'BB';
-- Senior unsecured debt 'BB/RR3'.

The Rating Outlook is Stable.


AMERIGAS PARTNERS: Moody's Assigns Ba3 Rating on $1.35BB Notes
--------------------------------------------------------------
Moody's Investors Service assigned a Ba3 rating to AmeriGas
Partners, L.P.'s proposed $1.35 billion of new senior unsecured
notes. AmeriGas' other ratings and the stable outlook were
unchanged.

Net proceeds from this offering will be used to fully redeem the
2019, 2020 and 2021 notes.  Simultaneous with this debt offering,
AmeriGas has launched a tender offer for the 2019, 2020 and 2021
notes that have a combined $1.27 billion principal amount
outstanding.  If any of the existing notes are not tendered, then
AmeriGas would promptly call such notes using the proceeds of this
offering.

"This is a leverage neutral transaction," said Sajjad Alam, Moody's
AVP-Analyst.  "However, the new eight and ten year notes will
significantly improve AmeriGas' debt maturity profile."

Issuer: AmeriGas Partners, L.P.

Assignments:

  Senior Unsecured Regular Bond/Debenture due 2024, Assigned Ba3,
   LGD4, 60%
  Senior Unsecured Regular Bond/Debenture due 2026, Assigned Ba3,
   LGD4, 60%

RATINGS RATIONALE

The proposed unsecured notes will all rank equally in right of
payment and were assigned a Ba3 rating, a notch below the Ba2
Corporate Family Rating (CFR), given the significant size of the
secured credit facility in AmeriGas' capital structure.  The
existing 7% 2022 notes will continue to be rated Ba2, one notch
above the new notes, for having a Contingent Residual Support
Agreement with Energy Transfer Partners. L.P., a Baa3 rated
entity.

AmeriGas' Ba2 CFR reflects its leading market position in the US
propane distribution industry, broad geographic footprint in the
US, and increasing but manageable leverage profile.  The CFR also
considers the seasonal and volatile nature of propane sales, the
challenging dynamics of the propane distribution industry, which is
fragmented, highly competitive and slowly declining, and the Master
Limited Partnership (MLP) legal structure, which requires high cash
payouts to unitholders.

The stable outlook reflects AmeriGas' diversified and leading
market position in propane distribution and its manageable leverage
profile.  If AmeriGas is able to sustain a debt/EBITDA ratio below
3.5x and remain committed to the lower leverage threshold, an
upgrade could be considered.  If the debt/EBITDA ratio exceeds 5x,
the rating could be downgraded.  Any material debt funded
acquisitions or distributions would also pressure the CFR.

The principal methodology used in this rating was the Global
Midstream Energy published in December 2010.

AmeriGas Partners, L.P. is a publicly traded master limited
partnership that is the largest retail propane distributor in the
United States based on volumes of propane distributed annually.


AMSCO STEEL: Liquidating Plan Says Creditor Recoveries Unknown
--------------------------------------------------------------
AMSCO Steel Company, LLC, and Pyndus Steel & Aluminum Co., Inc.,
filed with the U.S. Bankruptcy Court for the Northern District of
Texas, Fort Worth Division, a first amended joint Chapter 11 plan
of liquidation and accompanying disclosure statement following the
sale of substantially all of their assets to DFW Steel, LLC.

The Debtors and DFW Steel closed the sale on October 30, 2015.  As
a result of the sale, $2,173,983 in proceeds were paid to Meridian,
leaving an alleged deficiency of less than $60,000 allegedly owed
to Meridian Bank Texas.  Marquette received $268,245 in proceeds.
The remaining net sale proceeds of $43,477 were deposited in the
IOLTA Trust account of Forshey & Prostok in accordance with the
sale order.

The Plan, which is co-proposed by the Official Committee of
Unsecured Creditors, intends to pay general unsecured creditors
their pro rata share of the proceeds deposited into the
post-confirmation trust, subordinate to all payments required to be
made to holders of allowed administrative and priority claims.  The
estimated amount of general unsecured claims is $6,280,000.

A full-text copy of the First Amended Disclosure Statement is
available at http://bankrupt.com/misc/txnb15-43239-216.pdf

The Debtors are represented by:

          J. Robert Forshey, Esq.
          Matthew G. Maben, Esq.
          FORSHEY & PROSTOK LLP
          777 Main St., Suite 1290
          Fort Worth, TX 76102
          Tel: (817) 877-8855
          Fax: (817) 877-4151
          Email: bforshey@forsheyprostok.com
                 mmaben@forsheyprostok.com

The Committee is represented by:

          Paul J. Labov, Esq.
          Michael G. Menkowitz, Esq.
          FOX ROTHSCHILD LLP
          100 Park Avenue, 15th Floor
          New York, NY 10017
          Tel: (212) 878-7900
          Fax: (212) 692-0940
          Email: plabov@foxrothschild.com
                 mmenkowitz@foxrothschild.com

                   About AMSCO Steel Company, LLC

Before ceasing operations, AMSCO Steel Company, LLC, and Pyndus
Steel & Aluminum Co., Inc., were suppliers and processors of steel
products for a wide variety of customers throughout the United
States and Mexico.  AMSCO was formed in 1952 and was located in
Fort Worth, Texas.  AMSCO and Pyndus ceased operations on Oct. 30,
2015 and terminated all employees.

AMSCO Steel and Pyndus Steel & Aluminum Co., Inc., sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D.
Tex. Lead Case No. 15-43239) on Aug. 10, 2015.  The cases are
assigned to Judge Russell F. Nelms.

In September 2015, the Debtor filed its schedules, disclosing
$3,758,449 in assets and $8,663,523 in debt.

The Debtors won approval to hire Forshey & Prostok, LLP, in Forth
Worth, Texas, as counsel; SSG Advisors, LLC and Chiron Financial
Group as investment bankers; Bourland, Wall & Wenzel, P.C., as
special litigation counsel; and Mark M. Jones & Associates, P.C.,
as outside accountants.

The Creditors Committee won approval to hire David Grant Crooks of
Fox Rotschild LLP, as counsel; and Calderone Advisory Group, LLC,
as financial advisor.


ANTONIO LUNA: Aug. 11 Plan Confirmation Hearing
-----------------------------------------------
Judge Julia W. Brand of the U.S. Bankruptcy Court for the Central
District of California, Los Angeles Division, approved Antonio
Luna's second amended revised disclosure statement and scheduled
August 11, 2016, 10:00 a.m., as plan confirmation hearing.

July 18 is set as the deadline for creditors to submit ballots on
the Debtor's Second Amended Revised Plan of Reorganization and the
last day for filing written objections to confirmation of the Plan.
August 1 is the last day for the Debtor to file a ballot tally,
memorandum of points and authorities, and declarations in support
of confirmation of the Debtor's Second Amended Revised Plan.

The bankruptcy case is In re ANTONIO LUNA, Debtor-in-Possession,
Case No.: Case No. 2:15-bk-14814-WB (Bankr. C.D. Cal.).

The Debtor is represented by:

          Jeffrey V. Hernandez, Esq.
          HERNANDEZ LEGAL GROUP, A.P.C.
          1000 E. Walnut Street, Suite 233
          Pasadena, CA 91106
          Tel: (626) 502-7137
          Fax: (888) 275-8329
          Email: jhernandez@hernandezlegalgroup.com


APOSTOLIC FAITH MISSION: Taps Milledge Law Firm as Legal Counsel
----------------------------------------------------------------
Apostolic Faith Mission seeks approval from the U.S. Bankruptcy
Court for the Southern District of Texas to hire The Milledge Law
Firm PLLC as its legal counsel.

Apostolic Faith Mission tapped the firm to provide legal advice
about its powers and duties as a debtor-in-possession; prepare all
pleadings; and negotiate and file a potential plan of arrangement
satisfactory to the Debtor's estate and creditors.

Samuel Milledge, Esq., at The Milledge Law Firm, has been
designated as attorney-in-charge who will be responsible for the
representation of the Debtor.  He will be paid $350 per hour.

The hourly rate for the firm's associates ranges from $125 to $175
while the hourly rate for law clerks and legal assistants ranges
from $60 to $75.

Mr. Milledge disclosed in a court filing that the firm is a
"disinterested person" as defined in section 101(14) of the
Bankruptcy Code.

The firm can be reached through:

     Samuel L. Milledge
     The Milledge Law Firm PLLC
     2500 East T.C. Jester Blvd. Suite 510
     Houston, Texas 77092
     Phone: (713) 812-1409
     Facsimile: (713) 812-1418
     Email: milledge@milledgelawfirm.com

                  About Apostolic Faith Mission

Apostolic Faith Mission sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Tex. Case No. 16-32943) on June 7,
2016, saying it has under $1 million in both assets and
liabilities.


ARBOR PHARMACEUTICALS: Moody's Assigns B1 CFR, Outlook Stable
-------------------------------------------------------------
Moody's Investors Service assigned a B1 Corporate Family Rating and
B1-PD Probability of Default Rating to Arbor Pharmaceuticals, LLC.
Moody's also assigned a B1 rating to the proposed $575 million
senior secured bank credit facility.  The proceeds of the term
loan, along with cash on hand, will be used to fund the pending
acquisition of XenoPort, Inc. for approximately $467 million.  The
outlook is stable.  This is the first time that Moody's has rated
Arbor.

Ratings assigned:
  Corporate Family Rating at B1
  Probability of Default Rating at B1-PD
  $500 million senior secured term loan at B1 (LGD 3)
  $75 million revolving credit facility at B1 (LGD 3)

The outlook is stable.

RATINGS RATIONALE

The B1 Corporate Family Rating reflects Arbor's small size, both on
an absolute basis and relative to larger players in the
pharmaceutical industry -- with estimated 2015 pro forma revenue of
less than $500 million after the acquisition of Xenoport.  The
rating is also constrained by the company's revenue concentration
in certain legacy products, which Moody's anticipates will face
increasing generic competition over the next several years.  The
rating also reflects the risk that Arbor will not be able to
successfully execute on its strategy of growing volumes in its
branded portfolio of drugs and launching new drugs in its generic
business.  Historically, the vast majority of Arbor's growth has
been through acquisitions and price increases on its legacy drugs.

The B1 rating is supported by Arbor's modest financial leverage,
with adjusted debt/EBITDA of approximately 3.0x, including
estimated synergies from the Xenoport transaction.  The ratings are
also supported by Moody's expectation of strong free cash flow,
with free cash flow to debt of at least 15%, supported by high
gross margins and minimal capital expenditure requirements.
Notwithstanding expected declines in Arbor's legacy business,
Moody's believes Arbor has good growth prospects.  This is due to
Arbor's late 2015 acquisition of Sklice, several recent branded
product approvals (including Otovel and Cetylev) and a pipeline of
potential generic drug launches filed with the FDA.  All of Arbor's
key promoted branded products have long patent lives and/or orphan
drug exclusivity.  The rating is also supported by Moody's
expectation of strong liquidity.

The stable outlook reflects Arbor's strong credit metrics and cash
generation abilities, which Moody's balances against its
expectation that the company will remain small, with product
concentration, over the next 12-18 months.

Moody's could upgrade the ratings if Arbor successfully integrates
Xenoport, demonstrates a track record of sustained organic growth
through new product launches and volume growth, and increases size
and product diversity.  Further, if Moody's expects the company to
maintain adjusted debt to EBITDA below 2.5x the ratings could be
upgraded.

Moody's could downgrade the ratings if the company's revenue or
profit margins deteriorate due to increased competition or other
challenges on key products.  Specifically if Moody's expects
adjusted debt to EBITDA to be sustained above 4.0x, the ratings
could be downgraded.  Further, a weakening of liquidity, rising
legal or regulatory risk or acquisitions that materially add
leverage could also lead to a downgrade.

Arbor is a US-based specialty pharmaceutical company that sells a
portfolio of branded drugs in the cardiology, hospital, and
pediatric areas.  Arbor also sells antibiotic products and has a
small, but growing generic drug division.  The company is owned
primarily by KKR, Chairman Jason Wild and his funds, management and
Dr. Allen Chao's ARCH Healthcare Fund.

The principal methodology used in these ratings was that for the
Global Pharmaceutical Industry published in December 2012.


ARBOR PHARMACEUTICALS: S&P Assigns 'BB-' CCR, Outlook Stable
------------------------------------------------------------
S&P Global Ratings said it assigned its 'BB-' corporate credit
rating to Arbor Pharmaceuticals Inc.  The outlook is stable.

S&P also assigned a 'BB-' issue-level rating and a '3' recovery
rating to the subsidiary Arbor Pharmaceuticals LLC's senior secured
facility.  The '3' recovery rating indicates expectations of
meaningful (50%-70%, in the lower half of the range) recovery in
the event of a default.

The 'BB-' corporate credit rating on specialty pharmaceutical
company Arbor Pharmaceuticals, Inc. (Arbor) reflects the company's
growing, but still narrow product portfolio of 21 marketed branded
and generic and its limited track record of acquiring and
integrating acquisitions, offset by leverage that S&P expects to
stay below 4x.

"Our stable outlook reflects expectations that Arbor will extend
its relatively short track record of acquiring underpromoted
products and subsequently reducing costs and increasing volumes,"
said Standard & Poor's credit analyst Matthew Todd.  "We believe
that Arbor will continue to acquire new branded products to expand
its product portfolio in niche markets and estimate current
acquisition capacity of about $250 million at this rating level."

S&P could consider a downgrade if Arbor increased leverage above 4x
for more than a year.  Given current leverage levels, S&P sees
considerable cushion for potential operating underperformance. This
scenario is more likely the result of an acquisition of more than
$250 million with negligible EBITDA impact in the next year.

S&P could consider raising Arbor's rating if the company is able to
outperform its expectations in integrating XenoPort, raising
adjusted EBITDA margins in the mid to high-40% area and providing
confidence that the company will be able to maintain above-average
profitability.  Arbor's upside is partially limited by the
company's investor base, which S&P believes is incentivized to more
aggressively manage the company through acquisitions.


ARBOR REALTY: Egan-Jones Cuts Commercial Paper Rating to B
----------------------------------------------------------
Egan-Jones Ratings Company downgraded the commercial paper rating
on debt issued by Arbor Realty Trust Inc to B from A3 on June 6,
2016.

Arbor Realty Trust, Inc. is a specialized real estate finance
company that invests in a diversified portfolio of structured
finance assets in the multifamily and commercial real estate
markets.



ARMADA WATER: Taps Barnet B. Skelton as Conflicts Counsel
---------------------------------------------------------
Armada Water Assets, Inc. and its affiliates seek approval from the
U.S. Bankruptcy Court for the Southern District of Texas to hire
Barnet B. Skelton, P.C.

The law firm will assist the Debtors in matters involving HII
Technologies Inc., including a proposed settlement they recently
entered into with Oxy, USA.

McKool Smith PC, the Debtors' legal counsel, had represented HII
Technologies when it filed bankruptcy in September last year and,
therefore, cannot assist the Debtors in matters adverse to the
company, according to court filings.    

The Debtors propose to pay the firm $500 per hour for its
services.

Barnet Skelton, Jr., Esq., disclosed in a court filing that he does
not hold any interest adverse to the Debtors.

                       About Armada Water Assets

Armada Water Assets, Inc. and its affiliates sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Texas Lead
Case No. 16-60056) on May 23, 2016.  The petition was signed by Tom
Breen, chief restructuring officer.

The cases are pending joint administration before Judge David R.
Jones under proposed Lead Case No. 16-60056.

The Debtors estimated both assets and liabilities in the range of
$10 million to $50 million.


ARMADA WATER: Taps Olsen Skoubye as Special Counsel
---------------------------------------------------
Armada Water Assets, Inc. and its affiliated debtors seek approval
from the U.S. Bankruptcy Court for the Southern District of Texas
to hire Olsen Skoubye & Nielson, LLC as their special counsel.

The Debtors tapped the firm to represent them in various lawsuits
in Utah and Colorado, one of which involves an alleged $831,000
lien on a real property.

The attorneys who will primarily be providing the services and
their hourly rates are:

     Conrad H. Johansen    $325
     Mark B. Thornton      $250
     Nathan D. Anderson    $250

Mr. Johansen disclosed in a court filing that the firm does not
represent any interest adverse to the Debtors.

Olsen can be reached through:

     Conrad H. Johansen
     Olsen Skoubye & Nielson, LLC
     999 E. Murray Holladay Road, Suite 200
     Salt Lake City, Utah
     Phone: 801-365-1030
     Direct: 801-365-1014
     Email: Conrad@osnlaw.com

                       About Armada Water Assets

Armada Water Assets, Inc. and its affiliates sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Texas Case
Nos. 16-60056 to 16-60063) on May 23, 2016.  The petition was
signed by Tom Breen, chief restructuring officer.

The cases are pending joint administration before Judge David R.
Jones under proposed Lead Case No. 16-60056.

The Debtors estimated both assets and liabilities in the range of
$10 million to $50 million.


ATLANTIC BROADBAND: Moody's Rates Sr. Secured Facility Ba3
----------------------------------------------------------
Moody's Investors Service assigned a Ba3 rating to the senior
secured credit facility of Cogeco Communications (USA) L.P.
(formerly known as Acquisitions Cogeco Cable II, L.P.; d/b/a
Atlantic Broadband or ABB).  The $275 million credit facility,
which consists of a $150 million revolving credit facility and a
$125 million term loan A-3, was extended on May 31, 2016.  The
facility now matures in August 2019.  Atlantic Broadband's B1
Corporate Family Rating (CFR), B1-PD Probability of Default Rating
(PDR), and existing Ba3 senior secured rating remain unchanged.

Assignments:

Issuer: Cogeco Communications (USA) L.P.

  Senior Secured Bank Credit Facility, Assigned Ba3 (LGD3)

RATINGS RATIONALE

Atlantic Broadband's B1 corporate family rating is based on
expectations of 4x-to-5x leverage of debt-to-EBITDA, relatively
high given the company's modest scale and competitive market.
Atlantic Broadband's solid operating margins, commitment to high
quality network infrastructure and solid growth prospects support
the rating.  Sponsorship from the parent company, Cogeco
Communications Inc. (d/b/a Cogeco, formerly Cogeco Cable), is also
a positive credit factor.

The principal methodology used in these ratings was Global Pay
Television - Cable and Direct-to-Home Satellite Operators published
in April 2013.

Headquartered in Quincy, Massachusetts, Cogeco Communications (USA)
L.P. serves approximately 246 thousand video, 243 thousand high
speed data and 94 thousand phone subscribers across Western
Pennsylvania, Maryland, Delaware, Miami Beach, Eastern Connecticut,
and South Carolina in addition to providing commercial video, high
speed data, and phone services within its footprint.  Last twelve
month fiscal revenue, ended February 2016, was approximately $425
million.  ABB is an indirect, wholly-owned subsidiary of Cogeco
Communications Inc. (not rated), a public traded Canadian cable
operator based in Montreal, Quebec.  Cogeco provides residential
customers in Ontario and Quebec with television, high speed
Internet, and telephony services and also provides advanced
communication solutions to commercial customers. In fiscal 2015,
Cogeco reported annual revenue of approximately CAD 2 billion.


BEVERLY SHEPARD: Unsecureds to Recoup 10% Under Plan
----------------------------------------------------
Beverly Shepard and Leon Benwar Shepard filed with the U.S.
Bankruptcy Court for the Northern District of California a combined
plan of reorganization and disclosure statement proposing to pay
10% of the allowed claims of general unsecured creditors in
quarterly payments over 10 years.

The general unsecured creditors are:

                                Amount to  Quarterly
   Creditor                     be Paid     Payment
   --------                     -------    ---------
   City of Sacramento           $275.00        $6.88
   County of Sacramento         $100.00        $2.50
   Internal Revenue Service     $431.31       $10.78

General unsecured creditors Sallie Mae ECFC, holding a $39,970
claim, and Ocean Harbor House Homeowners Association, holding a
$46,200 claim, will be paid in full.

Secured creditor Bank of New York Mellon, as trustee for CWALT,
Inc., Trust 2006 OA2, will be paid $2,951.19 through 360 equal
monthly payments.  The Debtor will pay the approximately $178,024
"balloon payment" concurrently with the last payment of the monthly
payments.

Secured creditor U.S. Bank National Association, as trustee for the
LXS 2006-16N, will be paid $1,358.16 per month for 360 months, and
a one-time $66,764.15 balloon payment upon maturity.

A full-text copy of the Disclosure Statement is available at
http://bankrupt.com/misc/canb13-52321-238.pdf

Beverly Shepard (Bankr. N.D. Calif. Case No. 13-52321) filed a
Chapter 11 Petition on April 28, 2013.  Ms. Shepard is in the real
estate loan brokerage business.


BFN OPERATIONS: To Employ Gardere Wynne as Bankruptcy Counsel
-------------------------------------------------------------
BFN Operations LLC, et al., seek permission from the Bankruptcy
Court to employ the law firm of Gardere Wynne Sewell LLP to serve
as their counsel in the Chapter 11 cases.  The professional
services that Gardere will render to the Debtors include, without
limitation, the following:

   a. To advise the Debtors of their powers and duties in the
      management of their businesses;

   b. To attend meetings and negotiate with representatives of
      creditors and other parties in interest;

   c. To assist the Debtors in the preparation of all
      administrative documents required to be filed or prepared,
      and to prepare, on behalf of the Debtors, all necessary
      applications, motions, answers, responses, orders, reports
      and other legal documents;

   d. To assist the Debtors in obtaining Court approval for use of
      cash collateral or debtors-in-possession financing and other
      negotiations with secured creditors;

   e. To take such action as is necessary to preserve and protect
      the Debtors' assets and interests, including prosecuting
      actions on the Debtors' behalf, defending any action
      commenced against the Debtors, and representing the Debtors'
      interests in negotiations concerning litigation in which the
      Debtors are involved, including objections to claims filed
      against the estate;

   f. To advise the Debtors in connection with any potential sale
      of assets;

   g. To assist the Debtors in the formulation of a disclosure
      statement and in the formulation, confirmation, and
      consummation of a Chapter 11 plan;

   h. To appear before the Court, any appellate courts and the
      United States Trustee and protect the interests of the
      Debtors and the assets in their estates before such courts
      and the United States Trustee;

   i. To consult with the Debtors regarding tax matters; and

   j. To perform any and all other legal services that may be
      necessary to protect the rights and interests of the Debtors
      and their estates in this proceeding and any actions
      commenced in the Chapter 11 cases.

As of the Petition Date, Gardere held a retainer in the amount of
$150,000 for its services.  The Retainer is still held in trust by
Gardere.  Gardere will not apply the Retainer without further order
of the Court.  Additionally, Gardere has been compensated for
services provided to the Debtors prior to the Petition Date in the
ordinary course in the amount of $302,176.  

Subject to the Court's approval, the Debtors propose to pay Gardere
at its standard hourly rate for services rendered plus
reimbursement of actual and necessary expenses.  As of April 1,
2016, the current standard hourly rates for the attorneys that have
been designated to represent the Debtors in these Chapter 11 cases
and their current standard hourly rates include, without
limitation, the following:

    Name                   Position              Hourly Rates
    ----                   --------              ------------
    Holland N. O'Neil       Partner                 $825.00
    Marcus A. Helt          Partner                 $635.00
    Michael S. Haynes       Partner                 $590.00
    Mark C. Moore           Associate               $400.00
    Matthew J. Pyeatt       Associate               $330.00

It is Gardere's policy to charge its clients in all areas of
practice for all other out-of-pocket expenses incurred in
connection with the clients' cases.  The expenses charged to
clients include, among other things, telephone and telecopier toll
and express-mail and mass-mail postage charges, special or
hand-delivery charges, photocopying charges, travel expenses,
expenses for computerized research, transcription costs, and other
non-ordinary overhead expenses.

Gardere disclosed it currently represents and formerly represented
certain creditors of the Debtors or entities associated with said
creditors.  All such representations have been in matters unrelated
to the Debtors and the bankruptcy case.

Pursuant to the 2013 Fee Guidelines for Attorneys in Larger Chapter
11 cases, Gardere declares that:

    (a) It has agreed to charge the Debtors its standard rates.
        Standards rates are, however, adjusted at time to reflect
        economic or other conditions.

    (b) No professionals included in this engagement vary their
        rate based on geographic location of the bankruptcy case.

    (c) Gardere began representing the Debtors in late 2014 in
        connection with the exploration and consideration of
        strategic restructuring alternatives.  During that time,
        Holland N. O'Neil, as primary timekeeper on the
        engagement, provided services on a discounted hourly rate
        of $700 per hour.  At the time the exploration of
        strategic alternatives became more focused, the terms of
        the engagement with Gardere were amended to provide that
        all timekeepers would charge the standard hourly rates
        of $825.

    (d) The Debtors have approved a prospective budget and
        staffing plan for the period of the Petition Date
        through Sept. 30, 2016.

Gardere represents it is a "disinterested person," as that phrase
is defined in Section 101(14) of the Bankruptcy Code as modified by
Section 1107(b) of the Bankruptcy Code.

                        About BFN Operations

BFN Operations LLC and four of its subsidiaries each filed a
voluntary petition under Chapter 11 of the Bankruptcy Code (Bankr.
N.D. Tex. Lead Case No. 16-32435) on June 17, 2016, estimating
assets and liabilities in the range of $100 million to $500
million.  Judge Barbara J. Houser is assigned to the cases.

Operating under the name Zelenka Farms, the Debtors are wholesale
growers and distributors of container-grown shrubs, trees,
perennials, roses, and groundcovers.  Zelenka was founded in 1993
under the name The Berry Family of Nurseries.  Zelenka employs
approximately 1,600 people to operate its six facilities totaling
3,577 acres across the key growing regions in the United States.
Zelenka owns farms in Oregon and the Vaughn Lane farm in Tennessee,
and leases farms in Oklahoma, Michigan, North Carolina, and the
Short Mountain farm in Tennessee.  With approximately $130 million
in annual sales, Zelenka claims to represent approximately six
percent of the $2.2 billion wholesale nursery products industry and
is one of only five competitors exceeding $100 million in sales.

The Debtors have engaged Gardere Wynne Sewell LLP as counsel, CDG
Group, LLC as chief restructuring officer provider, Imperial
Capital, LLC as investment banker, and Upshot Services LLC as
noticing, claims and balloting agent.


BILL BARRETT: Egan-Jones Cuts FC Sr. Unsecured Rating to C
----------------------------------------------------------
Egan-Jones Ratings Company lowered the foreign currency senior
unsecured rating on debt issued by Bill Barrett Corp to C from CCC
on June 7, 2016.  EJR also lowered the Company's commercial paper
rating to D from C.

Bill Barrett Corporation is an energy company based in Denver,
Colorado. Its core business is natural gas and oil exploration and
development in the Rocky Mountains region of the United States.



BIND THERAPEUTICS: Announces Resignation of Polaris Directors
-------------------------------------------------------------
BIND Therapeutics, Inc., on June 17, 2016, announced the
resignations of Amir Nashat, managing partner at Polaris Partners,
and Amy Schulman, venture partner at Polaris Partners and chief
executive officer at Arsia Therapeutics and Lyndra Therapeutics,
from BIND's Board of Directors.  The resignations of
Dr. Nashat and Ms. Schulman are not a result of any dispute with
the Company and were tendered in order to avoid a potential
conflict of interest related to BIND's current review of financial
and strategic alternatives.  In conjunction with these
resignations, BIND's Board of Directors has withdrawn Dr. Nashat as
a nominee for election to the Board at the Company's annual meeting
of stockholders to be held on June 21, 2016 and has reduced the
size of the Board from nine to seven members.

BIND Therapeutics initiated voluntary Chapter 11 bankruptcy
protection on May 1, 2016 and is actively evaluating potential
financial and strategic alternatives, which may include raising
additional capital, licensing or divesting some of the Company's
proprietary technologies, or selling the company.

BIND plans to continue its development and collaboration activities
in accordance with its current innovative medicines strategy
throughout the Chapter 11 process.

                   About BIND Therapeutics

BIND Therapeutics is a biotechnology company developing novel
targeted therapeutics, primarily for the treatment of cancer.

BIND Therapeutics, Inc., aka BIND Biosciences, Inc., and BIND
Biosciences Security Corporation filed for Chapter 11 bankruptcy
protection (Bankr. D. Del. Case Nos. 16-11084 and 16-11085) on May
1, 2016.

Peter M. Gilhuly, Esq., Kimberly A. Posin, Esq., and Adam E.
Malatesta, Esq., at Latham & Watkins LLP, and John Henry Knight,
Esq., and Amanda R. Steele, Esq., at Richards, Layton & Finger,
P.A., serve as Chapter 11 counsel.

The Debtors' financial advisor is Cowen and Company, LLC.  Prime
Clerk LLC serves as claims and noticing agent.  In its petition,
the Debtors estimated $10 million to $50 million in both assets and
liabilities.

The petitions were signed by Andrew Hircsh, president and chief
executive officer.


BON-TON STORES: Terminates Purchase Agreement With United Trust
---------------------------------------------------------------
The previously announced Agreement of Purchase and Sale by and
between The Bon-Ton Stores, Inc., acting through subsidiary
entities, and United Trust Fund Limited Partnership, dated June 1,
2016, relating to a sale and leaseback by Bon-Ton of a real estate
portfolio comprised of three retail department store locations, has
been terminated, prior to due diligence period under the Agreement,
effective June 16, 2016.  Bon Ton will continue to explore all
appropriate options relating to these three stores and the
remainder of its real estate portfolio, as disclosed in a
regulatory filing with the Securities and Exchange Commission.

                       About Bon-Ton Stores

The Bon-Ton Stores, Inc., with corporate headquarters in York,
Pennsylvania and Milwaukee, Wisconsin, operates 270 stores, which
includes nine furniture galleries and four clearance centers, in
26 states in the Northeast, Midwest and upper Great Plains under
the Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman,
Herberger's and Younkers nameplates.  The stores offer a broad
assortment of national and private brand fashion apparel and
accessories for women, men and children, as well as cosmetics and
home furnishings.  For further information, please visit the
investor relations section of the Company's Web site at
http://investors.bonton.com.     

Bon-Ton Stores reported a net loss of $57.05 million on $2.71
billion of net sales for the fiscal year ended Jan. 30, 2016,
compared to a net loss of $6.97 million on $2.75 billion of net
sales for the fiscal year ended Jan. 31, 2015.

As of April 30, 2016, Bon-Ton had $1.51 billion in total assets,
$1.51 billion in total liabilities, and a $1.25 million total
shareholders' deficit.

                           *     *     *

As reported in the TCR on Dec. 4, 2015, Moody's Investors Service
downgraded Bon-Ton Stores's Corporate Family Rating to Caa1 from
B3. The company's Speculative Grade Liquidity rating was affirmed
at SGL-2.  The rating outlook is stable.  The downgrade considers
the continuing and persistent negative pressure on Bon-Ton's
revenue and EBITDA margins which has been accelerating during the
course of fiscal 2015.

Standard & Poor's Ratings Services in December 2015 lowered its
corporate credit rating Bon-Ton Stores to 'CCC+' from 'B-'.
The outlook is negative.  S&P said the downgrade reflects both
Bon-Ton's weakening performance and our forecast for an
unsustainable capital structure and "less than adequate" liquidity.


BONNIE & CLYDES: Taps Sofranko Advisory Group as Broker
-------------------------------------------------------
Bonnie & Clyde's Wexford, Inc. seeks approval from the U.S.
Bankruptcy Court for the Western District of Pennsylvania to hire
Sofranko Advisory Group, LLC.

The Debtor proposes to hire a broker in connection with the sale of
its assets, including a Pennsylvania liquor license.

Sofranko Advisory Group will receive a commission, which is 12% of
the sales price.

Ronald Sofranko, a principal at Sofranko Advisory Group, disclosed
in a court filing that the firm has no connection with the Debtor
or any of its creditors.  The firm may be reached at:

     Ronald Sofranko
     Sofranko Advisory Group
     6400 Brooktree Crt, Ste 200
     Wexford, PA 15090
     Tel: (724) 935-2151
     http://www.sofrankoadvisors.com/

The Debtor can be reached through its counsel:

     Robert O. Lampl, Esq.
     Robert O. Lampl, Attorney at Law
     960 Penn Avenue, Suite 1200
     Pittsburgh, PA 15222
     Tel: 412-392-0330
     Fax: 412-392-0335
     Email: rol@lampllaw.com

                        About Bonnie & Clyde's

Bonnie & Clyde's Wexford, Inc. sought protection under Chapter 11
of the Bankruptcy Code (Bankr. W. D. Pa. Case No. 16-21380) on
April 11, 2016.  

The petition was signed by Mark E. Baranowski, shareholder.  The
case is assigned to Judge Gregory L. Taddonio.

The Debtor estimated its assets at $100,000 to $500,000 and debts
at $1 million to $10 million.


BOOZ ALLEN: Moody's Affirms Ba2 CFR, Rates New 1st Lien Loans Ba2
-----------------------------------------------------------------
Moody's Investors Service has affirmed the Ba2 Corporate Family
Rating of Booz Allen Hamilton, Inc. (BAH) and assigned a Ba2 rating
to the company's planned first lien bank facility. Concurrently,
the Speculative Grade Liquidity Rating has been lowered to SGL-2
from SGL-1.  The rating outlook continues at stable.  The planned
first lien bank facility, among other revisions to the existing
facility, extends maturities, augments covenant test thresholds and
is debt neutral.

                         RATINGS RATIONALE

The Ba2 CFR reflects BAH's well-known consulting heritage which
provides client intimacy, facilitates effective marketing, and has
produced good scale with low contract concentration.  The rating
envisions debt/EBITDA in the low 3x range with funds from
operation/debt just above 20%, supportive credit metrics and US
defense outlays should annually grow in the low single digit
percentages beginning in 2017.  Special dividends will probably
remain a feature of BAH's capital deployment, keeping free cash
flow low versus other defense contractors at Ba2, but are unlikely
to necessitate borrowing.

Low free cash flow makes BAH more dependent on debt for acquisition
spending.  Historically the company achieved a good return level by
focusing on organic growth but that approach may shift as
consolidation within the defense services sector unfolds and
competitors expand capabilities, economies of scale and agency
breadth.

The Speculative Grade Liquidity rating has been downgraded to SGL-2
from SGL-1, denoting good rather than strong liquidity.  Moody's
expect cash of around $150 million, less than in prior years, and
near-term requirements include an $80 million deferred payment
obligation.  With the less robust cash balance envisioned, revolver
borrowing is more likely with working capital growth and/or
earnings seasonality.

The stable rating outlook reflects the low growth expected for the
US defense services market and a belief that BAH will unlikely
borrow to fund shareholder rewards.  The outlook incorporates some
flexibility for bolt on acquisition spending that could raise
leverage however.

Upward rating momentum would depend on lower financial leverage,
less reliance on US defense/intelligence agency funding, and higher
cash liquidity.  Debt/EBITDA sustained in the high 2x range, funds
from operation to debt above 25%, a higher percentage of revenues
from federal civilian and/or commercial/foreign government end
markets, and cash closer to $300 million would likely accompany an
upgrade.

Downward rating pressure would follow debt/EBITDA rising to the
high 3x range, funds from operation/debt descending toward 15%, or
backlog losses.  Diminished liquidity such as from covenant
headroom pressure or ongoing revolver dependence would be credit
negative as well.

Issuer: Booz Allen Hamilton Inc.

Assignments:

  Senior Secured Bank Credit Facility, Assigned Ba2 (LGD 3)

Downgrades:
  Speculative Grade Liquidity Rating, Downgraded to SGL-2 from
   SGL-1

Affirmations:
  Probability of Default Rating, Affirmed Ba2-PD
  Corporate Family Rating , Affirmed Ba2

Outlook Actions:

Issuer: Booz Allen Hamilton Inc.
  Outlook, Remains Stable

The principal methodology used in these ratings was Global
Aerospace and Defense Industry published in April 2014.

Booz Allen Hamilton, Inc. is a provider of management and
technology consulting and engineering services to governments in
the defense, intelligence and civil markets, global corporations
and not-for-profit organizations.  Booz Allen is headquartered in
McLean, Virginia, and reported revenues of approximately
$5.4 billion for the fiscal year ended March 31, 2016.  Carlyle
owns about 11% of the outstanding common stock of the company.


BOOZ ALLEN: S&P Affirms 'BB' CCR & Revises Outlook to Positive
--------------------------------------------------------------
S&P Global Ratings said it affirmed its 'BB' corporate credit
rating on McLean, Va.-based Booz Allen Hamilton Inc. and revised
the outlook to positive from stable.

S&P also assigned its 'BB' issue-level rating and '3' recovery
rating to the company's secured first-lien debt, which consists of
a $500 million revolver, a $1.04 billion term loan A, and a $541
million term loan B.  The '3' recovery rating indicates S&P's
expectation for meaningful (50% to 70%; higher half of the range)
recovery of principal in the event of default.  

"Over the last several years, BAH has operated with leverage around
3x, while managing declining revenue and considerable dividend
disbursements," said S&P Global Ratings credit analyst Peter
Bourdon.  "Our outlook revision to positive reflects our view that
it will continue to operate at that level which is supported by the
company's recent backlog growth and forecast for revenue growth, a
reduced Carlyle equity ownership stake, and an established market
position as a government service provider," he added.

After three years of annual revenue declines, BAH reported 2.5%
growth in fiscal 2016, with EBITDA margins remaining in the 11% to
12% range and free cash flow to debt of 12%.  Growth in the
company's backlog was supported primarily by an increase in the
value of priced options and also by an increase in the unfunded
backlog.

The positive outlook reflects the company's solid operating
performance that results in S&P's expectation for leverage to
remain in the 3x area, if not lower, while still supporting
shareholder returns.


BREITBURN ENERGY: Section 341(a) Meeting Slated for July 14
-----------------------------------------------------------
A meeting of creditors under 11 U.S.C. Sec. 341(a) of Breitburn
Energy Partners LP and its debtor-affiliates will take place on
July 14, 2016, at 2:30 p.m., at the U.S. Bankruptcy Court, One
Bowling Green, Room 511, New York, New York.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

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 office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

                       About Breitburn Energy

Breitburn Energy Partners LP and 21 of its affiliates filed
voluntary petitions for relief under Chapter 11 of the Bankruptcy
Code in the U.S. Bankruptcy Court for the Southern District of New
York on May 15, 2016, listing assets of $4.71 billion and
liabilities of $3.41 billion.

Breitburn Energy et al., are an independent oil and gas partnership
engaged in the acquisition, exploitation and development of oil and
natural gas properties, Midstream Assets, and a combination of
ethane, propane, butane and natural gasolines that when removed
from natural gas become liquid under various levels of higher
pressure and lower temperature, in the United States.  The Debtors
conduct their operations through Breitburn Parent's wholly-owned
subsidiary, Breitburn Operating LP, and BOLP's general partner,
Breitburn Operating GP LLC.

As of the Petition Date, the Debtors operate, or have working
interests in approximately 11,900 gross operating oil and gas
wells, and 7,921 net oil and gas wells.  The Debtors own interests
in approximately 705,597 net acres and had estimated proved
reserves, as of Dec. 31, 2015, of 239.3 million barrels of oil
equivalent of which approximately 54% was oil, 8% was NGLs, and 38%
was natural gas.  The Debtors maintain operational control over
approximately 91% of their proved reserves.  The Debtors'
production in 2015 was 20.8 million barrels of oil equivalent, of
which approximately 56% was oil, 9% was NGLs and 35% was natural
gas.

The Debtors have engaged Weil Gotshal & Manges LLP as counsel,
Alvarez & Marsal North America, LLC as financial advisor, Lazard
Freres & Co. LLC as investment banker, and Prime Clerk LLC as
claims and noticing agent.

The cases are pending before the Honorable Stuart M. Bernstein and
are jointly administered under Case No. 16-11390.


C.K. INVESTMENTS: Taps Johnson Law Offices as Special Counsel
-------------------------------------------------------------
C.K. Investments, Inc. seeks approval from the U.S. Bankruptcy
Court for the Northern District of Texas to hire Johnson Law
Offices as its special counsel.

The Debtor proposes to hire a special counsel in order to file
eight different lawsuits seeking damages against Montoya Trucking
and several others.

Johnson Law Offices will receive reimbursement for work-related
expenses and one-third of net recovery (after costs and expenses)
as attorney's fees on each claim.

J.W. Johnson disclosed in a court filing that the firm does not
represent or hold any interest adverse to the Debtor or its
bankruptcy estate.

The firm can be reached through:

     J.W. Johnson
     Johnson Law Offices
     125 S. Irving
     San Angelo, Texas 76903
     Tel: (325) 659-2542
     Fax: (325) 617-2250
     Email: jlo@johnsonlawoffices.org

The Debtor can be reached through its counsel:

     Ronald M. Mapel
     Attorney at Law
     3119 Cumberland Dr.
     San Angelo, TX 76904
     Tel: (325) 658-8579
     Fax: (325) 655-1172
     Email: mapel@suddenlinkmail.com

                        About C.K. Investments

C.K. Investments, Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N. D. Texas Case No. 16-60008) on January
9, 2016.  

The petition was signed by Clayton Kenedy, president.  The case is
assigned to Judge Robert L. Jones.

The Debtor estimated its assets at $0 to $50,000 and debts at $1
million to $10 million.


CABLEVISION SYSTEMS: Fitch Cuts Issuer Default Rating to B+
-----------------------------------------------------------
Fitch Ratings has downgraded the Issuer Default Rating (IDR)
assigned to Cablevision Systems Corporation (CVC) and its wholly
owned subsidiary CSC Holdings, LLC (CSCH) to 'B+' from 'BB-'. In
addition, Fitch has downgraded specific issue ratings assigned to
CVC and CSCH as outlined at the end of this release. The ratings
have been removed from Negative Watch and assigned a Negative
Outlook. Approximately $8.4 billion of debt as of March 31, 2016 is
affected by Fitch's rating action.

Fitch said, “The downgrade of CVC's IDR is due to the leveraging
nature of the Altice N.V. (Altice) acquisition of CVC (the
transaction) for an enterprise value of $17.7 billion, including
$8.4 billion of existing debt. Pro forma leverage for the
transaction increases to 8.6x from 5.3x at March 31, 2016,
excluding anticipated cost synergies. Pro forma leverage increases
to 6.9x after considering realization of $450 million in cost
synergies. Fitch expects EBITDA growth through cost synergy
realization will likely be the main driver of leverage reduction.
Although Altice stated it is targeting leverage between 5x and 5.5x
for both CVC and Suddenlink (see below) on a combined basis, Fitch
expects CVC will delever only to the mid-6x range over the next 24
months. We believe CVC will meet its stated leverage target only if
it achieves the majority of Altice's anticipated synergies, which
total $1.05 billion (consisting of $900 million in cost synergies
and $150 million in capex synergies). In addition, Fitch expects
that Cablevision's free cash flow generation as a percentage of
debt will range in the low single digits during the rating
horizon.”

CVC will become an unrestricted subsidiary of Altice and will
maintain a separate capital structure. Transaction financing
consists of $6 billion of incremental debt assumed by CSCH and $3.3
billion of equity. Approximately 70% of the equity financing was
contributed by Altice and the remaining 30% by BC Partners and
Canada Pension Plan Investment Board. In October 2015, Altice's
escrow subsidiary (Neptune Finco Corp.) also issued an additional
$2.6 billion of debt that will be used to refinance $2 billion of
outstanding term loans at CSCH and $480 million of term loans at
Newsday, LLC, a CSCH subsidiary. The escrow subsidiary will merge
into CSCH upon closing of the transaction and CSCH will assume the
debt obligations.

The Negative Outlook reflects uncertainty around the viability and
timing of the potential synergies to drive EBITDA growth over the
next 18 to 24 months, which will likely be the main source of
deleveraging for CVC.

The transaction represents Altice's second acquisition of a U.S.
cable operator in the last six months. In December 2015, Altice
officially entered the U.S. market after spending $9.1 billion to
acquire a 70% ownership stake in Suddenlink Communications
(Suddenlink), the seventh largest U.S. cable operator with
approximately 1.5 million subscribers.

KEY RATING DRIVERS

-- The acquisition of CVC and Suddenlink by Altice will create
    the fourth largest MVPD operator in the U.S.;

-- Although Altice has demonstrated its ability to achieve
    synergy targets at previous acquisitions, Fitch believes
    there is significant execution risk given that: 1) Altice
    is a new entrant to the U.S. market, 2) Altice has presented
    sizable synergies that may be difficult to realize entirely,
    and 3) it will not have contiguous operations that would
    benefit from scale efficiencies;

-- Excluding synergies, pro forma leverage for the transaction
    increases to 8.6x from 5.3x at March 31, 2016.

Significant Execution Risk: Altice's ability to manage the
restructuring process and limit disruption to the company's overall
operations is key to the success of the transaction. Altice's
management anticipated $900 million of cost synergies after its
initial announcement of the transaction, but later clarified that
it expects to achieve $450 million of cost savings in the medium
term. Fitch expects CVC to achieve $450 million of its anticipated
cost synergies over a three-year period. However, Fitch believes
there is significant execution risk in achieving the remaining $450
million of the aggregate $900 million. As such, Fitch has not
incorporated any additional cost synergies into its forecast beyond
the initial $450 million.

In order to achieve its synergies, Altice will focus on eliminating
excess corporate costs and on continuing investments in CVC's
network to improve the quality of service offerings provided and
significantly reduce network and operational costs of the business.
CVC's dense network should allow the company to extract
efficiencies in a quicker manner. Altice also believes it can
eliminate excess IT, billing system and software costs through the
combination of Cablevision and Suddenlink's operations.

Intense Competitive Environment: Video and voice subscriber
declines are largely attributed to intense competition and evolving
media consumption patterns. Verizon Communications Inc. (Verizon)
has been a source of significant competition for CVC, as Verizon's
fiber network passes a significant portion of CVC's footprint.
Additionally, CVC faces competition from Frontier Communications
Corp. (Frontier) in its Connecticut footprint and from emerging OTT
providers such as Netflix and Amazon.com, Inc.'s 'Prime'.
Promotional package offerings from Verizon and Frontier will
continue to pressure CVC's ability to maintain its current
subscriber base and ARPU growth. However, network investments by
Altice may position Cablevision to compete more effectively against
its competitors.

KEY ASSUMPTIONS

Fitch's key assumptions within the rating case for CVC include:

-- CVC achieves $450 million of its anticipated cost synergies
    related to the acquisition over a three-year period.
    Specifically, the company realizes 67% of the $450 million
    annualized cost synergies within 18 months of the close of the

    transaction;

-- CVC revenue growth in the low single digits, reflecting the
    maturity and high penetration rate of the company's services;

-- FCF margin in the low single digits during 2016 and 2017 as
    FCF is hampered by $225 million of restructuring costs and
    higher interest expense. Margins are expected to increase to
    the mid-single digits starting in 2018 as synergies are fully
    realized.

RATING SENSITIVITIES

Future developments that may, individually or collectively, lead to
a stabilization of the rating include:

-- Sustained reduction of leverage to below 6.5x;

-- Clear indications that pricing and cost reduction initiatives
    are producing desired revenue growth acceleration and ARPU
    growth such that EBITDA margins approach the low- to-mid-30s;

-- Cablevision demonstrating that its operating profile will not
    materially decline in the face of competition from other cable

    operators and against OTT providers in the evolving media
    landscape.

Negative ratings actions would likely coincide with:

-- If the company does not present a credible deleveraging plan
    and leverage remains above 6.5x after an 18-24-month
    timeframe;

-- The company is unable to sustain FCF margins in the mid-single

    digits;

-- EBITDA margins remain weak compared to peer group or as a
    result of CVC's inability to realize synergies.

LIQUIDITY

Fitch considers CVC's liquidity position and overall financial
flexibility to be adequate given the current rating. Liquidity is
supported by cash on hand totalling $934 million as of March 31,
2016 and $1.4 billion of available borrowing capacity from CSCH's
$1.5 billion revolver expiring April 2018. Following the close of
the transaction, the current revolver will be replaced with a $2
billion revolver expiring October 2020.

The $2 billion of secured term loans currently outstanding at CSCH
will be repaid at the close of the transaction and CSCH will assume
$3.8 billion of secured term loans due 2020 that were previously
issued at Altice's escrow subsidiary. The new term loans and
revolver eliminate the financial covenants under the old credit
facility. Going forward, the only financial covenant will be under
the new revolver that limits net senior secured leverage to no more
than 5x. The financial covenant will be tested only if there are
outstanding borrowings under the new revolver.

Pro forma for the closing of the transaction and excluding $1.2
billion of monetized indebtedness outstanding at March 31, 2016,
Fitch estimates principal amounts of $38 million and $938 million
mature in 2016 and 2017, respectively. Approximately $1.6 billion
matures in 2018. Outside of $38 million in term-loan amortization
payments annually, Fitch expects CVC and CSCH to refinance any
upcoming maturities.

FULL LIST OF RATING ACTIONS

Fitch has removed the ratings from Negative Watch and downgraded
the following:

Cablevision Systems Corporation (CVC)
-- IDR to 'B+' from 'BB-';
-- Senior unsecured notes to 'B-/RR6' from 'B+/RR5'.

CSC Holdings, LLC (CSCH)
-- IDR to 'B+' from 'BB-';
-- Senior unsecured notes to 'B+/RR4' from 'BB/RR2'.

Fitch has removed the ratings Negative Watch and affirmed the
following:

-- Senior secured credit facility at 'BB+/RR1.

The Rating Outlook is Negative.

At the close of the transaction, Fitch anticipates rating the debt
held in escrow when it is assumed by CSCH and will remove the
ratings assigned to the old credit facility when it is refinanced.



CABLEVISION SYSTEMS: S&P Lowers CCR to 'B'; Outlook Stable
----------------------------------------------------------
S&P Global Ratings said it lowered its corporate credit rating on
Bethpage, N.Y.-based Cablevision Systems Corp. to 'B' from 'BB-'
and removed all ratings from CreditWatch, where S&P had placed them
with negative implications on Sept. 17, 2015.  The rating outlook
is stable.

At the same time, S&P lowered its issue-level ratings on CSC
Holdings LLC's existing unsecured debt to 'B-' from 'BB' and
revised the recovery rating to '5' from '2'.  The '5' recovery
rating indicates S&P's expectations for modest recovery (10%-30%;
higher half of the range) in the event of a payment default.  This
brings the unsecured issue-level ratings in line with the ratings
on the unsecured debt raised in October 2015 at Neptune Finco
Corp., which is now merging with and into CSC Holdings LLC.

S&P also lowered its issue-level ratings on the company's unsecured
subordinated debt to 'CCC+' from 'B'.  The recovery rating remains
'6', indicating S&P's expectation for negligible (0%-10%) recovery
in a payment default.

Altice will use about $8.6 billion in proceeds from debt raised in
October 2015 along with about $3.3 billion in equity and cash on
the balance sheet to fund the $10 billion equity purchase price and
refinance credit facilities at CSC Holdings and Newsday.

"The downgrade follows the close of Altice N.V.'s mostly
debt-financed acquisition of CSC, pushing pro-forma leverage to
about 7.5x from 4.2x for the 12 months ended March 31, 2016," said
S&P Global Ratings credit analyst Chris Mooney.

Although the company could reduce leverage below 7x over the near
term, S&P believes there is uncertainty regarding the achievement
of planned cost savings and the longer-term impact that cost
cutting could have on the company's market share.

The stable outlook incorporates S&P's expectation that earnings
should improve because of cost-cutting initiatives, such that debt
to EBITDA will decline to below 7x by the end of 2017.  However,
S&P also believes there is a longer-term risk of losing market
share if aggressive cost-cutting initiatives negatively impact
customer service.



CAESARS ENTERTAINMENT: Seeks Court OK of Company Settlement
-----------------------------------------------------------
BankruptcyData.com reported that Caesars Entertainment Operating
Company (CEOC) filed with the U.S. Bankruptcy Court motion to
approve compromise or settlement by and among (i) CEOC and
non-debtor parent Caesars Entertainment Corporation (CEC) and (ii)
Park Hotels & Resorts Hilton Worldwide, The Hilton Worldwide,
Global Benefits Administrative Committee (GBAC) and Sheldon T.
Nelson, as a representative member of the GBAC.  The motion
explains, "The Settlement Agreement, among other things, (a)
reduces the Hilton Claims by approximately $17 million to account
for CEOC's defenses, and (b) provides for CEC's assumption of
prospective obligations under the Spinoff Agreements, which
liabilities may be mitigated by the Hilton Parties' obligation to
remit to CEC certain amounts paid to the Hilton Parties pursuant to
CEOC's plan of reorganization. If approved, the Settlement
Agreement also avoids the need to continue litigating complex ERISA
and contractual issues in multiple fora and resolves the claim of a
significant party in interest.  Such resolution will provide other
parties in interest with more clarity on the claims pool and
related recoveries at CEOC under the Debtors' proposed chapter 11
plan. In sum, the Settlement Agreement represents a significant
achievement for all parties and is an important step in the
Debtors' continued efforts to forge consensus with their
stakeholders as they drive these chapter 11 cases toward a
successful conclusion."

According to the report, the Court scheduled a July 20, 2016
hearing to consider the settlement agreement, with objections due
by July 13, 2016.

                  About Caesars Entertainment

Caesars Entertainment Corp., formerly Harrah's Entertainment Inc.,
is one of the world's largest casino companies.  Caesars casino
resorts operate under the Caesars, Bally's, Flamingo, Grand
Casinos, Hilton and Paris brand names.  The Company has its
corporate headquarters in Las Vegas.  Harrah's announced its
re-branding to Caesar's in mid-November 2010.

In January 2015, Caesars Entertainment and subsidiary Caesars
Entertainment Operating Company, Inc., announced that holders of
more than 60% of claims in respect of CEOC's 11.25% senior secured
notes due 2017, CEOC's 8.5% senior secured notes due 2020 and
CEOC's 9% senior secured notes due 2020 have signed the Amended and
Restated Restructuring Support and Forbearance Agreement, dated as
of Dec. 31, 2014, among Caesars Entertainment, CEOC and the
Consenting Creditors.  As a result, The RSA became effective
pursuant to its terms as of Jan. 9, 2015.

Appaloosa Investment Limited, et al., owed $41 million on account
of 10% second lien notes in the company, filed an involuntary
Chapter 11 bankruptcy petition against CEOC (Bankr. D. Del. Case
No. 15-10047) on Jan. 12, 2015.  The bondholders are represented
by Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor
LLP.

CEOC and 172 other affiliates -- operators of 38 gaming and resort
properties in 14 U.S. states and 5 countries -- filed Chapter 11
bankruptcy petitions (Bank. N.D. Ill.  Lead Case No. 15-01145) on
Jan. 15, 2015.  CEOC disclosed total assets of $12.3 billion and
total debt of $19.8 billion as of Sept. 30, 2014.

Delaware Bankruptcy Judge Kevin Gross entered a ruling that the
bankruptcy proceedings will proceed in the U.S. Bankruptcy Court
for the Northern District of Illinois.

Kirkland & Ellis serves as the Debtors' counsel.  AlixPartners is
the Debtors' restructuring advisors.  Prime Clerk LLC acts as the
Debtors' notice and claims agent.  Judge Benjamin Goldgar presides
over the cases.

The U.S. Trustee has appointed seven noteholders to serve in the
Official Committee of Second Priority Noteholders and nine members
to serve in the Official Unsecured Creditors' Committee.

The U.S. Trustee appointed Richard S. Davis as Chapter 11 examiner.


CAPE COD COMMERCIAL: Taps Frank Ronne & Associates as Appraiser
---------------------------------------------------------------
Cape Cod Commercial Linen Service, Inc. and This Is It, LLC seek
approval from the U.S. Bankruptcy Court for the District of
Massachusetts to hire Frank Ronne & Associates, Inc. as its
appraiser.

The Debtor requires the services of an appraiser to obtain a
valuation of its business equipment, which it will use prepare its
Chapter 11 plan.

The Debtor will compensate the firm for its services at a one-time
flat rate of $3,500.

Frank Ronne disclosed in a court filing that he and each member of
the firm is a "disinterested person" as defined in section 101(14)
of the Bankruptcy Code.

The firm can be reached through:

     Frank Ronne
     Frank Ronne & Associates, Inc.
     639 Granite Street
     Braintree, MA 02184
     781-380-3700
     frank@frankronne.com

                    About Cape Cod Commercial

Cape Cod Commercial Linen Service, Inc., based in Hyannis,
Massachusetts, filed a Chapter 11 petition (Bankr. D. Mass. Case
No. 16-11811) on May 13, 2016.  Hon. Joan N. Feeney presides over
the case.  David B. Madoff, Esq., and Steffani Pelton Nicholson,
Esq., at Madoff & Khoury LLP, serves as counsel to Cape Code
Commercial.   The Debtor's financial advisor is Bruce A. Erickson
of B. Erickson Group, LLC.  In its petition, the Debtor listed
total assets of $1.24 million and liabilities of $4.62 million.
The petition was signed by Jeffrey Ehart, president.

This Is It, LLC, based in Hyannis, Mass., filed a Chapter 11
petition (Bankr. D. Mass. Case No. 16-11813) on May 13, 2016.  Hon.
Joan N. Feeney presides over the case.  This Is It tapped David B.
Madoff, Esq., and Steffani Pelton Nicholson, Esq., at Madoff &
Khoury LLP, as bankruptcy counsel.  In its petition, This Is It
listed $2.20 million in assets and $3.05 million in liabilities.
The petition was signed by Jeffrey Ehart, president/manager.

This Is It and CCCLS have asked the Court to have their Chapter 11
cases jointly administered.


CAST & CREW: Moody's Affirms 'B3' CFR, Outlook Stable
-----------------------------------------------------
Moody's Investors Service affirmed its B3 Corporate Family Rating
and B3-PD Probability of Default Rating on Cast & Crew Payroll,
LLC.  Moody's also affirmed the ratings on the company's senior
secured first lien and second lien credit facilities of B2 and
Caa2, respectively.  The rating action follows the company's recent
announcement of the acquisition of CAPS Payroll Services, a
provider of payroll processing services to the media industry.  The
transaction will be financed in part by an $80 million add-on to
Cast & Crew's first lien term loan and the issuance of $50 million
of second lien notes (not rated).  The ratings outlook is stable.

Moody's affirmed these ratings:

  Corporate Family Rating- B3

  Probability of Default Rating- B3-PD

  Senior Secured Revolving Credit Facility expiring 2020 -- B2
   (LGD3)

  Senior Secured First Lien Term Loan due 2022 -- B2 (LGD3)

  Senior Secured Second Lien Term Loan due 2023 -- Caa2 (LGD5)

  Outlook is Stable

RATINGS RATIONALE

The B3 CFR reflects Cast & Crew's relatively small revenue base and
high debt to EBITDA leverage while also considering the company's
concentrated exposure to the growing, but somewhat cyclical market
for film and television content production in the entertainment
industry.  Cast & Crew's business visibility is somewhat limited
over the intermediate term by uncertainty surrounding the life
cycle of any particular production. Additionally, the ratings
reflect the risks related to the company's ability to effectively
manage workers compensation insurance claims as well as the
possibility of organized labor interruptions within the industry
that can be protracted and weigh on operating performance.  Studios
are also managing content and production costs closely to ensure
spending efficiency and this could periodically create downward
pressure or restrain the growth of Cast & Crew's revenue base.
However, Moody's believes the CAPS acquisition has positive
implications for Cast & Crew's credit profile as it partially
mitigates the company's concentration risk by expanding scale and
diversifying its customer base into adjacent segments of the media
and entertainment industry without materially impacting debt
leverage.  The company's credit profile is also supported by Cast &
Crew's entrenched position within its niche market that should
benefit from expanding production budgets.  Moreover, the company's
long term customer relationships and specialized industry expertise
enhance Cast & Crew's strong market presence as a leading provider
of payroll processing services in the media sector.

Cast & Crew's good liquidity position is supported by an estimated
$12 million in cash on the company's balance sheet at closing of
the CAPS acquisition and Moody's expectation that the company will
generate free cash flow of approximately $20 million in FY17.  Cast
& Crew's liquidity is also bolstered by an undrawn $70 million
revolving credit facility that has a springing covenant, but the
covenant is not expected to be in effect over the next 12-18 months
as excess availability should remain above the minimum levels.
There are no financial maintenance covenants on the term loans.

The stable ratings outlook reflects Moody's projection for low
single digit pro forma revenue growth in FY17.  Incremental film
and television content production spending in the entertainment
industry should continue to support Cast & Crew's top line
expansion, but a degree of near term pricing pressure is expected
to result in a modest deceleration in sales growth.  Moody's
expects the softness in pricing to result in moderate near term
erosion in adjusted EBITDA margins, but the company's strong
profitability metrics should recover in subsequent years as further
sales growth drive operating leverage benefits.

What Could Change the Rating – Up

The ratings could be upgraded if Cast & Crew effectively expands
revenues and EBITDA to sustain moderate deleveraging and increase
free cash flow to debt above 5%.

What Could Change the Rating -- Down

The ratings could be downgraded if revenue and EBITDA contracts
materially from current levels, the company begins to generate weak
or negative free cash flow, or liquidity deteriorates.

The principal methodology used in these ratings was Business and
Consumer Service Industry published in December 2014.

Cast & Crew is a leading provider of technology-enabled payroll
processing, production accounting software, workers compensation
coverage, and related value-added services to a large and growing
base of clients across the entertainment industry.  The company was
acquired by Silver Lake in 2015.


CAST & CREW: S&P Affirms 'B' CCR on CAPS Acquisition
----------------------------------------------------
S&P Global Ratings affirmed its 'B' corporate credit rating on
Burbank, Calif.-based Cast & Crew Payroll LLC.  The outlook is
stable.

At the same time, S&P affirmed its 'B+' rating on the company's
first-lien revolving credit facility expiring 2020 and $350 million
first-lien term loan due 2022 (upsized from $270 million).  The
recovery rating on these first-lien facilities remains '2',
indicating S&P's expectation for lenders to receive substantial
recovery (70%-90%, at the high end of the range) in the event of a
payment default.

S&P also affirmed its 'CCC+' rating on the company's $95 million
second-lien term loan due 2023.  The recovery rating remains '6',
indicating S&P's expectation for lenders to receive negligible
recovery (0-10%) in the event of a default.

In addition, S&P assigned a 'CCC+' issue-level rating and '6'
recovery rating to the company's proposed $50 million second-lien
notes due 2024.

"The affirmation reflects Cast & Crew's highly leveraged financial
condition, financial sponsor ownership, and narrow business focus
on providing tech-enabled payroll processing services for the
entertainment production industry," said S&P Global Ratings credit
analyst Peter Deluca.  "The acquisition of CAPS will gain the
company entry to an adjacent vertical serving the production of
commercials and live events.  We have also factored into our rating
the company's good market position, diversified client base, and
high client retention rates."

Pro forma for the transaction, debt-to-EBITDA leverage is about 6x
and S&P Global Ratings expects it to be near this level in 2017.
S&P's assessment of Cast & Crew also incorporates S&P's view of the
typical financial policies of most financial sponsor-owned
companies, which focus on generating investment returns over
shorter time horizons (less than five years) and typically operate
with high debt levels.

"We believe credit metrics will remain weak, so long as the company
maintains its operating performance near current levels, the CAPS
integration goes smoothly, and absent any event -- such as a data
breach -- that would harm the company's reputation," said Mr.
Deluca.



CERTIFIED ENERGY: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Certified Energy Labs, LLC
           dba CE LABS
        324 NW Capital Drive
        Lees Summit, MO 64086

Case No.: 16-41635

Chapter 11 Petition Date: June 21, 2016

Court: United States Bankruptcy Court
       Western District of Missouri (Kansas City)

Judge: Hon. Arthur B. Federman

Debtor's Counsel: Erlene W. Krigel, Esq.
                  KRIGEL & KRIGEL, P.C.
                  4520 Main Street, Suite 700
                  Kansas City, MO 64111
                  Tel: 816-756-5800
                  Fax: 816-756-1999
                  E-mail: ekrigel@krigelandkrigel.com

Total Assets: $448,281

Total Liabilities: $2.24 million

The petition was signed by Keith Koehler, managing member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/mowb16-41635.pdf


CHENIERE ENERGY: Egan-Jones Lowers FC Sr. Unsec. Rating to B-
-------------------------------------------------------------
Egan-Jones Ratings Company downgraded the foreign currency senior
unsecured rating on debt issued by Cheniere Energy Inc. to B- from
B+ on June 7, 2016.  EJR also lowered the foreign currency
commercial paper rating on the Company to B from A3.

Cheniere Energy, Inc. is an energy company primarily engaged in
liquefied natural gas (LNG) related businesses.



CLIMATE CONTROL: Taps Widerman Malek as Special Counsel
-------------------------------------------------------
Climate Control Mechanical Services, Inc. and its affiliates seek
approval from the U.S. Bankruptcy Court for the Middle District of
Florida to hire Widerman Malek, PL as their special counsel.

The Debtor tapped the firm to represent them in a case against
Continental Casualty Co. and to litigate a claim against Skanska
USA Building, Inc.

Edward Kinberg and Aaron Thalwitzer, the attorneys who will provide
most of the services, currently bill at the rate of $320 per hour
and $295 per hour, respectively.

Widerman Malek has agreed to receive payment on an hourly basis for
its services related to the litigation of a construction claim
against Skanska USA.

Meanwhile, the firm has agreed to represent the Debtors in their
case against Continental Casualty on a contingency basis.

The continency rate will be 35% of the amounts recovered, if the
matter is settled before notice of trial.  After notice of trial,
the contingency rate will increase to 42.5% of the total amounts
Recovered, according to court filings.

Mr. Thalwitzer disclosed in a court filing that the firm does not
hold or represent any interests adverse to the Debtors or their
bankruptcy estates.

Widerman Malek can be reached through:

     Aaron Thalwitzer, Esq.
     Widerman Malek, PL
     1990 West New Haven Ave. Suite 201
     Melbourne, FL 32904
     Phone: (321) 255-2332
     Fax: (321) 255-2351

The Debtors can be reached through their counsel:

     Richard A. Perry
     820 East Fort King Street
     Ocala, FL 34471-2320
     Tel: 352-732-2299
     E-mail: richard@rapocala.com

                About Climate Control Mechanical

Climate Control Mechanical Services, Inc.  and its affiliates
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
M. D. Fla. Lead Case No. 15-02248) on May 18, 2015.  

The petition was signed by Louie Wise III, president.  

At the time of the filing, the Debtors estimated their assets and
liabilities at $1 million to $10 million.


COMMUNICATIONS SALES: Moody's Retains B2 CFR on Tower Acquisition
-----------------------------------------------------------------
Moody's Investors Service said that Communications Sales & Leasing,
Inc. announcement of a definitive agreement to purchase Tower Cloud
Inc. for $230 million in cash and stock will not immediately impact
its ratings.  The transaction will add attractive assets with
strong growth characteristics to CS&L's stable base business.
Despite Tower Cloud's high purchase multiple and very high capital
intensity the deal will not immediately impact CS&L's B2 corporate
family rating or stable outlook because of the relatively small
transaction size.  Tower Cloud is a fiber carrier that focuses on
wireless tower backhaul in the communications infrastructure
segment.  The deal will expand CS&L's carrier relationships and
expand its fiber asset base and construction capacity.

Tower Cloud announcement follows CS&L's purchase of PEG Bandwidth
earlier this year.  Moody's believes that CS&L has limited
financial capacity to continue to acquire fiber infrastructure
businesses like PEG and Tower Cloud.  Fiber carriers generally have
very high capital intensity and negative free cash flow and have
resulted in higher leverage for CS&L due to the debt incurred to
fund their high purchase multiples.  These deals reflect an
aggressive M&A philosophy that is inconsistent with CS&L's capital
structure.  Tower Cloud's $230 million purchase price (excluding
earn-outs, which may add future debt) represents 16x 1Q'16
annualized EBITDA (management cites 12.4x 4Q'16 annualized) and
will be financed with $180 million of debt.

The transaction will result in a modest increase in leverage to
6.4x (Moody's adjusted), which is still below the 6.5x level which
Moody's has identified as the limit for CS&L's B2 rating.  The deal
will also reduce liquidity, although Moody's continues to expect
CS&L to maintain good liquidity as reflected in its SGL-2
speculative grade liquidity rating.

CS&L's B2 corporate family rating (CFR) primarily reflects its
tight linkage with Windstream Services, LLC ("Windstream", B1
stable).  CS&L's rating will remain linked with Windstream unless
or until it can diversify its revenue stream such that Windstream
represents meaningfully less than 50% of CS&L's total revenues. The
rating also contemplates CS&L's high leverage of over 6x and its
limited retained free cash flow as a result of its high dividend
payout and the growing capital intensity of acquired businesses.
Offsetting these limiting factors, the B2 rating reflects CS&L's
stable and predictable revenues, its high margins and the strong
contract terms within the master lease agreement between it and
Windstream.  The acquisitions of PEG and Tower Cloud represent a
growing degree of revenue diversification which may help to
eventually create some ratings separation between CS&L and
Windstream.  CS&L's current M&A trajectory and capital allocation
may result in a stand alone rating over time.  But CS&L's
aggressive financial policy, specifically its use of debt to fund
M&A, could possibly result in a lower rating than if it were linked
to Windstream.


COMMUNICATIONS SALES: Tower Cloud Deal No Impact on Fitch's BB- IDR
-------------------------------------------------------------------
According to Fitch Ratings, Communications Sales & Leasing Inc.'s
(CS&L) and CSL Capital, LLC's ratings are not affected by the
announcement of CS&L's acquisition of Tower Cloud, Inc. Tower Cloud
is a broadband infrastructure provider offering fiber-to-the tower
backhaul, turn-key small cell solutions and dark fiber.

The acquisition is in line with Fitch's expectations for M&A
activity managed within CS&L's target leverage, which should
approximate the mid-5x range over the longer-term. Fitch expects
the Tower Cloud acquisition to increase gross leverage by less than
0.2x, and pro forma for both the Tower Cloud acquisition and the
May 2016 PEG Bandwidth acquisition, gross leverage based on first
quarter 2016 annualized EBITDA approximates 5.9x.

Total consideration for the Tower Cloud acquisition is $230
million. A total of $180 million of the initial consideration will
be funded with a combination of available cash on hand and
borrowings under CS&L's revolver, and the remainder will be
financed through the issuance of common stock. The transaction is
conditioned upon necessary regulatory approval that is expected to
occur in late third-quarter 2016 or early fourth-quarter 2016.

KEY RATING DRIVERS

Slight Rise in Leverage: CS&L's financial leverage is expected to
rise as a result of the May 2016 PEG Bandwidth acquisition and
pending Tower Cloud acquisition. On a pro forma basis, Fitch
expects gross leverage (total debt to EBITDA) of approximately 5.9x
assuming 50% equity treatment for the preferred stock issued in the
PEG Bandwidth transaction. This compares to leverage of
approximately 5.5x at the end of the first quarter 2016. Based on
management comments about opportunities within a robust transaction
pipeline and desire to diversify across various asset classes,
Fitch anticipates that CS&L will announce further transactions. As
these opportunities come to fruition, Fitch expects CS&L to finance
any transaction such that gross leverage should remain relatively
stable, with some fluctuations due to M&A activity, and should
approximate the mid-5x range over the longer-term.

Very Stable Cash Flow: Nearly all of CS&L's current revenues
consist of revenues under a master lease with Windstream, under
which Windstream has exclusive access to the assets. The lease is
currently expected to approximate $653 million annually. Fitch
expects CS&L to have very stable cash flows, owing to the fixed
(and modestly increasing) nature of the long-term lease payments
and Windstream's responsibility for expenses under the triple-net
lease. The term of the master lease is for an initial term of 15
years. There is some risk at renewal that under the 'any or all'
provision at renewal that Windstream could opt not to renew
markets, or could renegotiate terms at such time for those
markets.

However, this renewal risk is well into the future, given the
initial 15-year term of the lease, (and up to 20 if Windstream
requests and CS&L elects to fund certain capital spending projects
totalling $250 million over five years). Fitch expects all markets
to be renewed under the master lease, since Windstream would either
have to incur significant capital expenditures to overbuild CS&L or
find a buyer for its operating assets (routers, switches, etc.) and
successor tenant for its leased assets. Protection is provided to
CS&L by the terms of the master lease, which could require
Windstream to sell its operating properties in the event of
default. CS&L's facilities would be essential to the operations of
Windstream on a going-concern basis, or a successor company.

Geographic Diversification: Windstream's operations subject to the
master lease are geographically diversified among 37 market areas.
The indivisible nature of the Master Lease mitigates the effect of
a weak market area(s) on CS&L. About two-thirds of the fiber and
copper route miles are located in Georgia, Texas, Iowa, Kentucky
and North Carolina. PEG's fiber network serves seven markets in the
Northeast Mid-Atlantic, Illinois and South Central regions.

Tenant Concentration: The master lease with Windstream provides a
steady, although undiversified cash flow stream. Therefore CS&L's
IDR is initially capped at Windstream's 'BB-' long-term IDR until
CS&L strikes deals with other companies to meaningfully diversify
its operations through transactions where 25%-30% of its revenue is
derived from tenants with a credit profile materially stronger than
Windstream's. Fitch views the PEG and Tower Cloud transactions
positively as such transactions begin to diversify CS&L's revenue
base.

Seniority: CS&L's master lease is with Windstream Holdings
(Holdings), and Holdings is subordinate to the operations at
Windstream Services. However, Fitch believes CS&L's assets will be
essential to Windstream Services operations and a priority
payment.

No Material Near-Term Maturities: CS&L does not have any maturities
for four years at the earliest, with the revolver having the
shortest maturity in 2020. The remaining term loan and note
issuances have maturities in 2022 and 2023 respectively.

KEY ASSUMPTIONS

-- CS&L financed the PEG Bandwidth transaction with a mix of cash

    ($315 million), stock (1 million CS&L shares and convertible
    preferred stock ($87.5 million).

-- CS&L's primary revenue stream will be the payments received
    from Windstream under the master lease and are currently
    approximately $653 million annually. Fitch assumes Windstream
    may request CS&L to finance $50 million of capital spending
    over the next five years per the terms of the master lease,
    generating additional revenue. There is no binding commitment
    on the part of CS&L to provide funding.

-- Virtually all capital spending consists of investments
    requested by Windstream. CS&L is expected to distribute all
    REIT earnings to shareholders.

-- CS&L will target long-term gross leverage in the mid 5x range.

RATING SENSITIVITIES

Positive Action: A positive action is unlikely in the absence of an
upgrade of Windstream, although an upgrade could be considered if
CS&L targets debt leverage of 5.2x to 5.3x or lower and 25% - 30%
of its revenue is derived from tenants with a credit profile
materially stronger than Windstream's.

Negative Action: A negative rating action could occur if debt
leverage is expected to approach 6x or higher for a sustained
period. In addition, a downgrade of Windstream would likely result
in a similar downgrade of CS&L in the absence of greater revenue
diversification. Also, the acquisition of assets and subsequent
leases to tenants that have a weaker credit and operating profile
than Windstream could affect the rating, if such assets are a
material proportion of revenues.

LIQUIDITY

CS&L's $500 million revolving credit facility (due 2020), which had
$329 million available following the PEG Bandwidth acquisition and
pro forma for a June 2016 note offering, provides sufficient
backstop for liquidity needs. Fitch expects CS&L will restore
revolver availability following transactions by terming out
borrowings over time by more permanent means of equity and debt
funding. Cash was $165 million at March 31, 2016.

Fitch currently rates CS&L and CSL Capital, LLC as follows:

-- Long-term IDR 'BB-';
-- Senior secured revolving credit facility due 2020 'BB+/RR1';
-- Senior secured credit facility due 2022 'BB+/RR1';
-- Senior secured notes 'BB+/RR1';
-- Senior unsecured notes 'BB-/RR4'.


COMMUNITY TRANSLATOR: PMCC Wants Trustee Amid Illegal Transfers
---------------------------------------------------------------
Powell-Meredith Communications Company and Amy Meredith move the
U.S. Bankruptcy Court for the District of Utah for an order
directing the appointment a Chapter 11 Trustee for Community
Translator Network, LLC.

"PMCC believes cause exists, within the meaning of 11 U.S.C. Sec.
1104(a)(1), for the Court to appoint a Chapter 11 Trustee in the
case.  Among other things, PMCC believes Debtor's counsel and
principals have conflicts of interest between their actions in
managing the Debtor and the Debtor's fiduciary obligations to
creditors and the estate.  Among other things, Debtor's counsel and
principals have interests in related companies and personal
interests which conflict with the best interests of the Debtor and
Debtor's creditors, including PMCC.  It appears transfers of
alleged estate assets have occurred without Court approval and
prior to confirmation of a Chapter 11 Plan.  In managing the
Debtor, its principals have demonstrated a pattern of gross
mismanagement and incompetence.  Additionally, immediate
appointment of a Chapter 11 Trustee in this case is in the best
interests of the Debtor's creditors," PMCC's attorneys said in
court filings.

Powell-Meredith Communications' attorneys:

         Geoffrey L. Chesnut
         Thomas D. Neeleman
         THE LAW OFFICE OF GEOFFREY L. CHESNUT
         PO Box 1948
         Cedar City, UT 84721
         Telephone: (435) 634-1000
         Fax: (435) 634-1001
         E-mail: gchesnut@expresslaw.com

Community Translator Network LLC sought Chapter 11 protection
(Bankr. D. Utah Case No. 15-31245) on Dec. 1, 2015, estimating less
than $100,000 in assets and less than $50,000 in debt.  John
Christian Barlow, Esq., at Law Office of John Christian Barlow,
serves as counsel to the Debtor.


CONSTELLATION ENTERPRISES: Russell R. Johnson Represents Utilities
------------------------------------------------------------------
Pursuant to the provisions of Rule 2019 of the Federal Rules
of Bankruptcy Procedure, Russell R. Johnson III of the Law Firm
of Russell R. Johnson III, PLC, filed with the U.S. Bankruptcy
Court for the District of Delaware a verified statement of the
Firm's multiple representations in the Chapter 11 cases of
Constellation Enterprises LLC, et al., of these utility companies
that provided prepetition utility goods/services to the Debtors,
and continue to provide post-petition utility goods/services to the
Debtors.

The names and addresses of the Utilities represented by the Firm
are:

     A. Ohio Power Company dba American Electric Power
        Attn: Gregory Holland
        40 Franklin Road
        P.O. Box 2021
        Roanoke, VA 24022-2121

     B. Ohio Edison Company
        Attn: Kathy M. Hofacre
        FirstEnergy Corp.
        76 S. Main Street, A-GO-lS
        Akron, OH 44308

The nature and the amount of claims (interests) of the
Utilities, and the times of acquisition thereof are:

    (a) Ohio Power Company of Oklahoma dba American Electric
        Power and Ohio Edison Company have unsecured claims
        against the above-referenced Debtors arising from
        prepetition utility usage; and

    (b) For more information regarding the claims and interests
        of the Utilities in these jointly-administered cases,
        refer to the objection of Ohio Power Company dba American
        Electric Power to the Debtors' motion for entry of interim

        and final orders determining adequate assurance of payment

        for future utility services, and joinder filed in the
        jointly-administered bankruptcy cases.

The Firm was retained to represent the Utilities in May 2016.  The
circumstances and terms and conditions of employment of the Firm by
the Utilities is protected by the attorney-client privilege
and attorney work product doctrine.

             About Constellation Enterprises

Constellation Enterprises LLC, through its subsidiaries,
manufactures custom engineered metal components for various end
markets such as rail transportation, oil and gas, general
industrial, nuclear, aerospace, and small gas engine markets. The
company was incorporated in 1996 and is based in Caldwell, Texas.

Constellation Enterprises LLC (Bankr. D. Del. Case No. 16-11213)
and its affiliates Columbus Holdings, Inc. (Bankr. D. Del. Case
No.
16-11214), Columbus Steel Castings Company (Bankr. D. Del. Case
No.
16-11215), Eclipse Manufacturing Co. (Bankr. D. Del. Case No.
16-11219), JFC Holding Corporation (Bankr. D. Del. Case No.
16-11221), Metal Technology Solutions, Inc. (Bankr. D. Del. Case
No. 16-11218), Steel Forming, Inc. (Bankr. D. Del. Case No.
16-11220), The Jorgensen Forge Corporation (Bankr. D. Del. Case
No.
16-11222), Zero Corporation (Bankr. D. Del. Case No. 16-11216),
and
Zero Manufacturing, Inc. (Bankr. D. Del. Case No. 16-11217) filed
for Chapter 11 bankruptcy protection on May 16, 2016.

The petitions were signed by William Lowry, chief financial
officer.

The Debtors estimated their assets at between $1 million and $10
million and their debts at between $100 million and $500 million.

Adam C. Rogoff, Esq., and Joseph A. Shifer, Esq., at Kramer Levin
Naftalis & Frankel LLP serve as the Debtors' bankruptcy counsel.

Daniel J. DeFranceschi, Esq., Zachary I. Shapiro, Esq., Rachel L.
Biblo, Esq., and Joseph C. Barsalona II, Esq., at Richards, Layton
& Finger, P.A., serve as the Debtors' co-counsel.

Imperial Capital, LLC, is the Debtors' financial advisor.  Conway
Mackenzie Management Services LLC is the Debtors' crisis management
& restructuring services provider.

Epiq Bankruptcy Solutions, LLC, is the Debtors' claims and noticing
agent.


CYPRESS SEMICONDUCTOR: S&P Affirms 'BB-' CCR, Outlook Negative
--------------------------------------------------------------
S&P Global Ratings said that its 'BB-' corporate credit rating on
San Jose, Calif.-based Cypress Semiconductor Corp. is unchanged
following the change in the company's capital structure.  The
outlook remains negative.

S&P also assigned its 'B' issue-level rating to the company's
proposed $250 million senior unsecured convertible notes due 2022.
The 'B' issue-level rating on the company's $150 million
convertible notes due 2020 remains unchanged.  The '6' recovery
rating on the unsecured convertible notes indicates S&P's
expectation for negligible (0% to 10%) recovery of principal in the
event of payment default.

The 'BB-' issue-level rating on the company's senior secured debt,
which is comprised of a $100 million term loan A and the
$450 million term loan B, is unchanged.  The '3' recovery rating
reflects S&P's expectation for meaningful (50% to 70%, upper half
of the range) recovery in the event of payment default.

Proceeds from the proposed senior unsecured convertible notes and
the senior secured term loan B will be used to fund Cypress'
acquisition of Broadcom's wireless "Internet of things" business.
The company had previously planned to issue a $700 million term
loan B.

                         RECOVERY ANALYSIS

S&P's simulated default scenario assumes a default in 2019 due to a
combination of execution and strategic missteps as well as
increased industry competition in Cypress' programmable systems and
memory products division.  Any of these events could result in loss
of business and margin declines, eventually triggering a default.
S&P continues to believe that Cypress would be an attractive
acquisition target because of its large patent portfolio and its
significant range of products.

Simulated default assumptions
   -- Simulated year of default: 2019
   -- EBITDA at emergence: $165 million
   -- EBITDA multiple: 5x

Simplified waterfall
   -- Net enterprise value (after 5% admin. costs): $782 million
   -- Collateral value available to secured creditors:
      $782 million
   -- Secured first-lien debt: $1130 million
      -- Recovery expectations: 50% to 70% (upper half of the
     range)
   -- Structurally subordinated debt: $440 million
      -- Recovery expectations: 0% to 10%

Notes: All debt amounts include six months of prepetition interest.
Collateral value equals asset pledge from obligors after priority
claims plus equity pledge from non-obligors after non-obligor
debt.

RATINGS LIST

Cypress Semiconductor Corp.
Corporate credit rating                 BB-/Negative/--

New Rating

Cypress Semiconductor Corp.
$250 mil sr unsec conv nts due 2022     B
  Recovery rating                        6

Ratings Unchanged; Recovery Ratings Revised
                                         To          From
Cypress Semiconductor Corp.
$150 mil conv nts due 2020              B
  Recovery rating                        6
$100 mil term loan A                    BB-
  Recovery rating                        3H          3L
$450 mil term loan B                    BB-
  Recovery rating                        3H          3L


DEAN ALAN VERHEIDEN: Aug. 18 Plan Confirmation Hearing
------------------------------------------------------
Judge Hannah L. Blumenstiel of the U.S. Bankruptcy Court for the
Northern District of California, San Jose Division, approved the
disclosure statement accompanying Dean Alan Verheiden and Jung Hee
Verheiden's combined plan, and scheduled the hearing on
confirmation of the Plan for August 18, 2016, at 10:00 a.m.

Under the Plan, secured creditor Chase Mortgage, which is owed
$1,511,154, will be paid $7,214 within 360 months at an interest
rate of 4.00%.  The Debtor's bankruptcy counsel, Sagaria Law, PC,
owed $4,000, and the U.S. Trustee, owed $650, will be paid in full
on the effective date of the Plan.  The Internal Revenue Service,
owed $33,790, will be paid $607.16 in 60 payments, at an interest
rate of 3.00%.  The Debtor has no general unsecured creditor.

August 4 is the last day for submitting written ballots accepting
or rejecting the plan and the last day for filing and serving
written objections to confirmation of the plan.

The Debtors must file and serve a summary of ballots no later than
August 14.  The Debtors may file a Brief in Support of Confirmation
or Declaration in Support of Confirmation no later than July 28.

A full-text copy of the Disclosure Statement is available at
http://bankrupt.com/misc/canb16-30102-40.pdf

Dean Alan Verheiden and Jung Hee Verheiden (Bankr. N.D. Cal. Case
No. 16-30102) filed a Chapter 11 Petition on January 29, 2016.  Mr.
Verheiden is currently employed as a software engineer.  Ms.
Verheiden previously held software development jobs.

The Debtors are represented by:

          Scott J. Sagaria, Esq.
          Joe Angelo, Esq.
          SAGARIA LAW, P.C.
          2033 Gateway Place 5th Floor
          San Jose, CA 95110
          Tel: (408) 279-2288
          Fax: (408) 279-2299
          Email: jangelo@sagarialaw.com


DEX MEDIA: Seeks to Hire PwC as Tax Consultant
----------------------------------------------
Dex Media, Inc. seeks approval from the U.S. Bankruptcy Court for
the District of Delaware to hire PricewaterhouseCoopers LLP.

The Debtor tapped the firm to provide tax compliance services for
the tax year 2015 as well as those services under the Tax
Depreciation Services Agreement.

The firm will be compensated for the tax compliance services on a
fixed-fee basis.  The fixed fee is estimated to be approximately
$391,000.  Meanwhile, PwC will receive a fixed fee of $75,000 for
its services under the 2014 agreement.

PwC has also agreed to provide tax consulting services and tax
compliance services for tax year 2016.  The firm will seek
compensation for those services on an hourly basis.  The hourly
rates are:

     Partner            $700 - $840
     Director           $480 - $570
     Manager            $380 - $455
     Senior Associate   $285 - $345
     Associate          $215 - $260
   
Allen Pryor, a partner at PwC, disclosed in a court filing that the
firm is a "disinterested person" as defined in section 101(14) of
the Bankruptcy Code.

PwC can be reached through:

     Allen Pryor
     PricewaterhouseCoopers LLP
     2001 Ross Avenue, Suite 1800
     Dallas, TX 75201

                         About Dex Media

DFW Airport, Texas-based Dex Media, Inc. -- aka Newdex, Inc., Dex
One Corporation, R.H. Donnelley Corporation -- provides marketing
solutions to more than 400,000 business clients across the U.S.

Dex Media filed for Chapter 11 bankruptcy protection (Bankr. D.
Del. Case No. 16-11200) on May 16, 2016.

Affiliates Dex Media East, Inc. (Bankr. D. Del. Case No. 16-11201),
Dex Media Holdings, Inc. (Bankr. D. Del. Case No. 16-11202), Dex
Media Service LLC (Bankr. D. Del. Case No. 16-11203), Dex Media
West, Inc. (Bankr. D. Del. Case No. 16-11204), Dex One Digital,
Inc. (Bankr. D. Del. Case No. 16-11205), Dex One Service,  Inc.
(Bankr. D. Del. Case No. 16-11206), R.H. Donnelley APIL, Inc.
(Bankr. D. Del. Case No. 16-11207), R.H. Donnelley Corporation
(Bankr. D. Del. Case No. 16-11208), R.H. Donnelley Inc. (Bankr. D.
Del. Case No. 16-11209), SuperMedia Inc. (Bankr. D. Del. Case No.
16-11210), SuperMedia LLC (Bankr. D. Del. Case No. 16-11211), and
SuperMedia Sales Inc. (Bankr. D. Del. Case No. 16-11212) filed for
Chapter 11 bankruptcy protection on the same day.

The petitions were signed by Andrew Hede, chief restructuring
officer.

James H.M. Sprayregen, P.C, Marc Kieselstein, P.C., Adam Paul,
Esq., and Bradley Thomas Giordano, Esq., at Kirkland & Ellis LLP
and Kirkland & Ellis International LLP serve as the Debtors'
general bankruptcy counsel.

Patrick A. Jackson, Esq., and Pauline K. Morgan, Esq., at Young
Conaway Stargatt & Taylor, LLP, serve as the Debtors' co-counsel.
Moelis & Company LLC is the Debtors' investment banker.  KPMG LLP
is the Debtors' tax advisor. Ernst & Young LLP is the Debtor's
auditor.  Epiq Bankruptcy Solutions is the Debtors' notice, claims
& administrative agent.

The Debtors listed $1.26 billion in total assets as of Dec. 31,
2015, and $2.65 billion in total debts as of Dec. 31, 2015.

The Office of the U.S. Trustee disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of Dex Media, Inc.


DIAMONDBACK ENERGY: Egan-Jones Cuts Sr. Unsec. Rating to B+
-----------------------------------------------------------
Egan-Jones Ratings Company downgraded the senior unsecured ratings
on debt issued by Diamondback Energy Inc. to B+ from BB+ on June 8,
2016.

Diamondback Energy, Inc. is an independent oil and natural gas
company headquartered in Midland, Texas.



DIOCESE OF GALLUP: Judge Approves Bankruptcy-Exit Plan
------------------------------------------------------
Tom Corrigan, writing for Daily Bankruptcy Review, reported that
the Roman Catholic Diocese of Gallup, N.M., on June 21 won final
court approval of its bankruptcy-exit plan, which distributes about
$25 million to creditors including clergy sexual abuse victims.

According to the DBR report, following a hearing at the U.S.
Bankruptcy Court in Albuquerque, N.M., Judge David Thuma signed off
on the plan, which is largely funded by contributions from the
diocese, insurance carriers, parishes and sales of the diocese's
property.

Maggie Shepard, writing for the Albuquerque Journal, reported that
victims of predatory priests and workers with the Diocese of Gallup
have finally agreed to and won a multi-million dollar settlement
for their claims, a federal judge ruled on June 21.  U.S.
Bankruptcy Judge David T. Thuma in May approved a plan for the
payments, but the plan had to be approved by a vote among
claimants, the Journal recalled.

On June 21, Judge Thuma announced in court in Albuquerque that the
victims did approve the plan, the Journal related.  The agreement
will provide an estimated $350,000 per claimant, though amounts
likely would vary depending on circumstances, the report said.

The largest share -- $11.55 million -- will be provided by the
Catholic Mutual Relief Society of America, a nonprofit that insures
many Roman Catholic dioceses, the report said.  Catholic Mutual
insured the diocese from 1977 to 1990, when some of the abuses
occurred, the report added.  The Diocese of Gallup will contribute
$3 million and may have to sell its chancery offices in Gallup,
subject to the terms of a loan agreement with a bank, the report
further related.  In addition to abuse claims, the settlement also
will pay for legal and professional costs that totaled more than
$3.5 million through Dec. 30, the report added.

                  About The Diocese of Gallup

The Diocese of Gallup, New Mexico, principally encompasses
American Indian reservations for seven tribes in northwestern New
Mexico and northeastern Arizona. It is the poorest diocese in the
U.S.

There are 38 active priests working in the Diocese and 27
permanent deacons also serve the Diocese along with five
seminarians.  The Diocese and its missions, schools and ministries
employ approximately 50 people, and a significant number of
additional people offer their services as volunteers.

The diocese sought bankruptcy protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. N.M. Case No. 13-bk-13676) on Nov. 12,
2013, in Albuquerque, New Mexico amid suits for sexual abuse
committed by priests.

The Diocese of Gallup became one of 13 U.S. dioceses that have
filed for bankruptcy in response to civil lawsuits filed against
the diocese on behalf of alleged victims of sexual abuse by
priests.

The petition shows assets and debt both less than $1 million.


DISTRIBUTION INT'L: S&P Affirms 'B' CCR, Outlook Stable
-------------------------------------------------------
S&P Global Ratings said it affirmed its 'B' corporate credit rating
on Houston-based Distribution International Inc.  The rating
outlook is stable.

At the same time, S&P affirmed its 'B' issue-level rating on the
company's $215.5 million first-lien term loan due 2021 and S&P's
'CCC+' issue-level rating on the company's $113 million second-lien
term loan due 2022.  S&P revised the recovery rating on the
first-lien loan to '4' from '3', indicating its expectation of
average (30% to 50%, lower half of the range) recovery in the event
of a payment default.  The recovery rating on the second-lien loan
is unchanged at '6', indicating S&P's expectation of negligible (0%
to 10%) recovery in the event of a payment default. The company
also has a $110 million asset-based lending (ABL) facility due
2019, which S&P do not rate.

"The stable rating outlook reflects our expectation that DI's
leverage will remain between 7x and 8x for the next 12 months, a
level consistent with our highly leveraged financial risk
assessment," said S&P Global Ratings credit analyst Vania Dimova.
"We expect DI to maintain adequate liquidity based on committed
revolving borrowing capacity and minimal capital spending."

S&P could lower the rating if DI experiences weaker-than-expected
end-market demand resulting in deteriorating financial performance
adversely affecting S&P's liquidity assessment.  S&P's view of
financial risk also incorporates the potential for leveraging
transactions given that the company is owned by financial sponsors.
S&P could also lower the rating if leverage is sustained over 8x
due to a decline in end markets and slower-than-expected growth in
the commercial construction.

S&P could raise the rating if industry fundamentals exceeded its
expectations, resulting in better operating performance such that
leverage declined below 5x and FFO to debt increased above 12% and
both were sustained at these levels.  S&P would also need to gain
confidence that the company's owners were committed to financial
policies supportive of this financial profile, as consistent with
S&P's criteria for companies owned by financial sponsors.  S&P
could also raise its rating in the longer term if acquisitions
cause a material change in the business risk profile such that the
EBITDA margins improve materially and the geographic footprint
increases beyond its current state.


DOLE FOOD: S&P Affirms 'B-' CCR, Outlook Stable
-----------------------------------------------
S&P Global Ratings affirmed all of its ratings, including its 'B-'
corporate credit rating, on Westlake Village, Calif.-based Dole
Food Co. Inc.  The outlook is stable.

S&P estimates Dole had $1.65 billion in adjusted debt outstanding
as of March 26, 2016.

The rating affirmation with a revised financial profile reflects
S&P's lower forecast following the $26.4 million in product recall
costs in the first quarter of 2016.  Moreover, debt balances are
expected to increase as the company finances its last vessel
purchase, while discretionary cash flows will be negligible
following the company's dividend payment to its owner.  S&P now
expects debt to EBITDA will remain well above 5x compared to its
prior expectations that leverage will decline to closer to 5x.  The
ratings affirmation also includes S&P's view of the company's weak
management and governance assessment.  In January 2016, Dole
temporarily suspended operations at its Springfield, Ohio
production facility (operations resumed in May) and recalled all
packaged salads processed there in response to a listeria
contamination.  In addition to the recall costs, additional costs
could be incurred from a criminal investigation recently launched
by the U.S. Justice Department into the listeria outbreak.
Furthermore, S&P believes the company is exposed to the risk of
material volume declines at retailers.  That said, S&P believes
that if the company is able to bounce back from the recall, the
company's value-added fresh vegetables segment, particularly its
packaged salads division, will still be a significant contributor
of company EBITDA growth.  In addition, S&P believes that the
company's recent significant growth capital investments, including
the purchase of three shipping vessels and continued investment in
a vertical integration strategy (in which the company acquires
banana and pineapple farms overseas), will support EBITDA growth in
2017 and beyond.  

"The ratings on Dole largely reflect the company's leading
positions in several fresh fruit, vegetable, and packaged salad
product categories, including the No. 1 share of banana sales and
the No. 2 share of fresh pineapple sales in North America," said
S&P Global Ratings credit analyst Jessica Paige.

It has good geographical, product, and customer diversification,
and a well-recognized brand name.  Although Dole competes in the
competitive, commodity-oriented, seasonal--and volatile fresh
produce industry and operating performance is subject to
uncontrollable factors such as global supply, world trade policies,
political risk, currency swings, weather, and crop disease--the
company has diversified its product mix into more value-added fruit
and salad offerings and has invested in proprietary farms.  S&P
believes these efforts will allow for continued EBITDA growth at
higher margins, while better mitigating operating performance
volatility that has hurt the company's profits in the past.

The ratings also reflect the negative up-to-two-notch impact of
S&P's weak management and governance assessment, relating to the
role of the controlling stockholder and principal executive, David
Murdock, following the 2013 going-private transaction.  S&P
believes there are a limited number of independent board members,
and that the wishes of the controlling stockholder could take
priority over creditor interests at Dole. (Note: the weak
management and governance assessment impacts the company's 'b'
anchor by only one notch, to a 'B-' corporate credit rating as the
management and governance impact cannot go below 'B-'.)  

The stable outlook reflects S&P's expectation that the company will
sustain its revised operating performance over the next year
following the product recalls, barring any additional product
recall costs or material volume declines in its value-added
vegetable segment.  S&P expects the company to maintain debt to
EBITDA in the closer to 5.5x over the next year, with somewhat
higher debt balances to fund growth.


DONNIE NORRIS: Proposes $375K Private Sale of Florida Property
--------------------------------------------------------------
Donnie G. Norris asks the U.S. Bankruptcy of the Northern District
of Alabama, Southern Division, to enter an order approving the
contract for the sale of his interest in Unit 10001 Ocean Ritz,
10611 Front Beach Rd, Panama City Beach, FL 32407, to Larise Wynn
for $375,000.

The proposed sale will be by private sale.

The Debtor explains that the total sales price represents the fair
market value of the realty.  The purchaser has already obtained
financing and the can close immediately after the approval from
this Court.

The real property is subject to these liens, mortgages or other
interests:

   a. Central State Bank holds a first mortgage with a balance of
$305,000.

   b. Alliant Bank holds a judgment lien in the amount of
$1,013,034 pursuant to its judgment recorded with the Shelby County
Probate on Nov. 11, 2011.  Alliant Bank received a Sheriff's Deed
on Oct. 9, 2013.

The Debtor believes that the sale of assets will reduce the amount
of its obligations to creditors and insurance premiums.  The assets
identified are not necessary for the Debtor's effective
reorganization.

A copy of the Residential Contract For Sale & Purchase attached to
the Motion is available for free at:

      http://bankrupt.com/misc/D_Norris_114_Sale_M.pdf

Donnie G. Norris is represented by:

          C. Taylor Crockett
          2067 Columbiana Rd
          Birmingham, AL 35216
          Telephone: (205) 978-3550
          Facsimile: (205) 978-3556

Donnie G. Norris filed a Chapter 11 petition (Bankr. N.D. Ala. Case
No. 15-03662) on Sept. 14, 2015.


DUPONT FABROS: S&P Revises Outlook to Pos. & Affirms 'BB-' CCR
--------------------------------------------------------------
S&P Global Ratings revised its outlook on DuPont Fabros Technology
Inc. to positive from stable.  At the same time, S&P affirmed the
'BB-' corporate credit rating and 'BB' senior unsecured issue-level
rating on the company's senior unsecured notes.  The recovery
rating is '2', indicating S&P's expectations for substantial
recovery in the event of default, at the high of the 70% to 90%
range.

The outlook revision reflects the company's recent deleveraging of
its balance sheet (as indicated by stronger
debt-plus-preferred-to-EBITDA) as well as good operating
performance (DFT's operating portfolio was 96% leased as measured
by critical load as of March 31, 2016) and progress signing new
leases.  Over the past year, DuPont Fabros has continued to
profitably develop and lease-up wholesale data centers.  The
development pipeline remains active with 61.4 megawatts of new data
centers in development over the next several quarters of which 47%
is preleased.  S&P expects DFT's credit metrics to improve with
debt-plus-preferred-to-EBITDA in the mid-5x area as it funds new
development with more debt than equity.

The outlook is positive based on S&P's expectation for attractive
demand for data center space in DFT's key markets.  S&P expects the
completion and stabilization of its recently developed data centers
will contribute to NOI resulting in adjusted debt to EBITDA in the
mid-5x area and EBITDA interest coverage in the 3.5x to 4.0x area
over the next couple of years.

S&P could raise the ratings if DFT maintains debt to EBITDA
(including preferred stock as debt) at or near current levels in
the 5.5x area and EBITDA interest coverage remains above 3.0x on a
sustained basis, while maintaining stable operating metrics as
evidenced by occupancy levels and rent growth.

A downgrade could occur if the company is unable to re-lease vacant
space after lease termination of key a tenant hampering DFT's
leasing activity.  Also, a more aggressive than anticipated
debt-financed acquisition or speculative development such that
adjusted debt to EBITDA increases above 8x, could result in an
outlook revision back to stable.


DYNACAST INT'L: Moody's Retains B2 CFR on $45MM Loan Add-On
-----------------------------------------------------------
Moody's Investors Service said Dynacast International LLC's
$45 million add-on term loan does not impact the company's ratings
including its B2 corporate family rating, B1 rating on its first
lien revolving credit facility and term loan as well as the Caa1
rating on its second lien term loan.  The outlook remains stable.

Dynacast International LLC, headquartered in Charlotte, North
Carolina, is a private global manufacturer of small engineered
precision die cast components.  Dynacast revenues for the last
twelve month period ended March 31, 2016, totaled approximately
$649 million.


DYNACAST INT'L: S&P Affirms 'B' Rating on Sr. Facilities
--------------------------------------------------------
S&P Global Ratings affirmed its 'B' and 'B-' issue-level ratings on
Dynacast International LLC's senior secured first-lien and
second-lien credit facilities, respectively, following the
company's proposed $45 million add-on to the senior secured
first-lien term loan.  The '3' recovery rating on the first-lien
facility remains unchanged, indicating S&P's expectation for
meaningful recovery (50%-70%; lower half of the range) in the event
of a payment default.  The '5' recovery rating on the second-lien
facility also remains unchanged, indicating S&P's expectation for
modest recovery (10%-30%; lower half of the range) in the event of
a payment default.  S&P expects that Dynacast will use the proceeds
from the term loan add-on to fully repay its outstanding revolver
balance and partially fund bolt-on acquisitions over the
near-term.

S&P's 'B' corporate credit rating on Dynacast reflects S&P's
expectation that headwinds from the stronger dollar will be
partially offset by a modest improvement in the company's key end
markets this year.  Under S&P's base-case forecast, it expects the
company's adjusted debt-to-EBITDA metric to be about 6x as of the
end of 2016 pro forma for the proposed term loan add-on, which is
modestly higher than S&P's previous forecast of 5.5x.  S&P expects
Dynacast to continue to generate good profitability while gradually
reducing its leverage below 6x through earnings growth over the
next 12-18 months.

RECOVERY ANALYSIS

Key analytical factors

   -- S&P affirmed its 'B' and 'B-' issue-level ratings on
      Dynacast's senior secured first-lien and second-lien credit
      facilities, respectively, following the company's proposed
      $45 million add-on to the first-lien term loan.

   -- S&P's simulated default scenario contemplates that increased

      competition from competitors with more financial flexibility

      will cause the company to lose key customers during an
      unexpected and protracted period of weakness in the
      automotive safety and electronics markets.  S&P has valued
      the company on a going-concern basis using a 5x multiple to
      derive its emergence enterprise value.

   -- S&P's recovery analysis assumes that, in a simulated default

      scenario--after satisfying any unpaid priority
      administrative expenses--first-lien facility lenders'
      recoveries will be at the lower end of the 50%-70% range and

      second-lien facility lenders' recoveries will be at the
      lower end of the 10%-30% range.

Simulated default and valuation assumptions:

   -- Simulated year of default: 2019
   -- EBITDA at emergence: $81.1 million
   -- EBITDA multiple: 5x

Simplified waterfall:

   -- Net enterprise value (after 5% admin. costs): $385 million
   -- Valuation split (obligors/nonobligors): 20%/80%
   -- Value available to first-lien debt claims
      (collateral/noncollateral):
   -- $275.3 million/$77.3 million
   -- Secured first-lien debt claims: $619.6 million
     -- Recovery expectations: 50%-70% (lower half of the range)
   -- Value available to second-lien debt claims
       (collateral/noncollateral): $0/$34.6 million
   -- Secured second-lien debt claims: $180 million
      -- Recovery expectations: 10%-30% (lower half of the range)

Note: All debt amounts include six months of prepetition interest.
Collateral value equals asset pledge from obligors after priority
claims plus equity pledge from nonobligors after nonobligor debt.

RATINGS LIST

Dynacast International LLC
Corporate Credit Rating              B/Stable/--

Ratings Affirmed

Dynacast International LLC
  Senior Secured First-Lien           B
   Recovery Rating                    3L
  Senior Secured Second-Lien          B-
   Recovery Rating                    5L


EDITH MARTINEZ-CONTRERAS: Unsecureds to Get 0.35 Cents Per Dollar
-----------------------------------------------------------------
Edith Martinez-Contreras filed with the U.S. Bankruptcy Court for
the District of Nevada and amended disclosure statement explaining
her plan of Reorganization - Plan #1 proposing to pay general
unsecured creditors a dividend constituting payment of
approximately 0.35 cents per dollar of each class claim.

A full-text copy of the Disclosure Statement is available at
http://bankrupt.com/misc/nvb13-19471-156.pdf

Edith Martinez-Contreras (Bankr. D. Nev. Case No. 13-19471) filed a
Chapter 11 Petition on November 12, 2013.  The Debtor is employed
as a payables specialist and receives monthly rental income from
three invested properties located in Las Vegas.

The Debtor is represented by:

          Michael J Harker, Esq.
          2901 El Camino Ave #200
          Las Vegas, NV 89102
          Tel: (702) 248-3000
          Fax: (702) 425-7290
          Email: mharker@harkerlawfirm.com


EIRE MCNAB: Gets Chapter 11 Trustee
-----------------------------------
Judge Paul G. Hyman Jr. in mid-June entered an order approving the
Acting U.S. Trustee's appointment of Nicole Testa Mehdipour as
Chapter 11 trustee for Eire McNab, LLC.

The U.S. Trustee consulted with the attorneys of 2303 W McNab LLC
and the Debtor regarding the appointment of the Trustee.

In a June 14 order, Judge Hyman directed the appointment of a
trustee at the behest of secured creditor 2303 W McNab LLC.

"As suspected, this Debtor's prepetition cash flow was diverted to
insiders, depleting the Debtor's resources, at a time that the
Debtor was not paying its real property taxes, its mortgage,
and the normal and usual costs of maintaining and repairing the
Debtor's sole asset, a mini storage facility located in Pompano
Beach, Florida," the Secured Creditor said in the Motion.

The Secured Creditor pointed out that the last time this Debtor
paid its mortgage was in June of 2011, 5 years ago.  In 2011, the
Debtor also failed to pay the ad valorem real property taxes
related to its sole asset.  It claimed that while not paying taxes
or mortgage payments, the principal of the Debtor, Mr. Spillane,
took $9,817 in distributions from the Debtor in 2011 and $164,369
in 2012.

2303 W McNab LLC's attorney:

         FLORIDA BANKRUPTCY GROUP, LLC.
         Kevin C Gleason
         4121 N 31st Avenue
         Hollywood, Fl 33021-2011
         Tel: 954-893-7670
         Fax: 954-893-7675
         E-mail: BankruptcyLawyer@aol.com

                         About Eire McNab

Eire McNab, LLC, sought protection under Chapter 11 of the
Bankruptcy Code in the Southern District of Florida (West Palm
Beach) (Case No. 16-14976) on April 6, 2016.  The petition was
signed by Mark Spillane, manager.

The Debtor is represented by Matthew S. Kish, Esq., at Kish Law
Firm, PLLC. The case is assigned to Judge Paul G. Hyman, Jr.

The Debtor estimated both assets and liabilities in the range of
$1
million to $10 million.


ELBIT IMAGING: Reverse Stock Split Takes Effect June 27
-------------------------------------------------------
Elbit Imaging Ltd. announced that following the approval of the
Company's shareholders, on March 31, 2016, the one-for-ten reverse
split of the Company's ordinary shares will become effective and
that the shares will commence trading on a reverse split-adjusted
basis upon the open of trading on the NASDAQ Global Select Market
on Monday, June 27, 2016.  With respect to the Tel Aviv Stock
Exchange, the shares will commence trading on a reverse
split-adjusted basis upon the open of trading on Sunday, June 26,
2016.

The record date for determining which holders of the Company's
ordinary shares will have their holdings adjusted as a result of
the Reverse Share Split will be the close of business on Friday,
June 24, 2016.

The reverse share split is intended to increase the per share
trading price of the Company's ordinary shares to satisfy the $1.00
minimum bid price requirement for continued listing on the NASDAQ
Global Select Market.  As a result of the reverse stock split,
every 10 ordinary shares issued and outstanding at the effective
time will automatically be combined into one issued and outstanding
ordinary share.  In lieu of issuing fractional shares, any
fractional share that would have resulted from the reverse share
split will be rounded up or down to the nearest whole share and a
half-share will be rounded down.

As part of the reverse share split and pursuant to the approval of
the Company's shareholders, on March 31, 2016, the Company's
Memorandum and Articles of Association will be amended to reduce
the Company's authorized share capital from 35,000,000 ordinary
shares, no par value, to 3,500,000 ordinary shares, no par value.

                    About Elbit Imaging

Tel-Aviv, Israel-based Elbit Imaging Ltd. (TASE, NASDAQ: EMITF)
holds investments in real estate and medical companies.  The
Company, through its subsidiaries, also develops shopping and
entertainment centers in Central Europe and invests in and manages
hotels.

Elbit Imaging reported a loss of NIS 186.15 million on NIS 1.47
million of revenues for the year ended Dec. 31, 2015, compared to
profit of NIS 1 billion on NIS 461,000 of revenues for the year
ended Dec. 31, 2014.  As of Dec. 31, 2015, Elbit Imaging had NIS
778.25 million in total assets, NIS 758.96 million in total
liabilities and NIS 19.28 million in shareholders' equity.

Since February 2013, Elbit has intensively endeavored to come to
an arrangement with its creditors.  Elbit has said it has been
hanging by a thread for more than five months.  It has encountered
cash flow difficulties and this burdens its day to day activities,
and it certainly cannot make the necessary investments to improve
its assets.  In light of the arrangement proceedings, and
according to the demands of most of the bondholders, as well as an
agreement that was signed on March 19, 2013, between Elbit and the
Trustees of six out of eight series of bonds, Elbit is prohibited,
inter alia, from paying off its debts to the financial creditors
-- and as a result a petition to liquidate Elbit was filed, and
Bank Hapoalim has declared its debts immediately payable,
threatening to realize pledges that were given to the Bank on
material assets of the Company -- and Elbit undertook not to sell
material assets of the Company and not to perform any transaction
that is not during its ordinary course of business without giving
an advance notice to the trustees.

Accountant Rony Elroy has been appointed as expert for examining
the debt arrangement in the Company.

In July 2013, Elbit Imaging's controlling shareholders, Europe-
Israel MMS Ltd. and Mr. Mordechay Zisser, notified the Company
that the Tel Aviv District Court has appointed Adv. Giroa Erdinast
as a receiver with regards to the ordinary shares of the Company
held by Europe Israel securing Europe Israel's obligations under
its loan agreement with Bank Hapoalim B.M.  The judgment stated
that the Receiver is not authorized to sell the Company's shares
at this stage.  Following a request of Europe-Israel, the Court
also delayed any action to be taken with regards to the sale of
those shares for a period of 60 days.  Europe Israel and
Mr. Zisser have also notified the Company that they utterly reject
the Bank's claims and intend to appeal the Court's ruling.


ENERGY DEVELOPMENT: Powerdrive's $2.22MM Wins Auction
-----------------------------------------------------
Judge Theodor C. Albert on June 15, 2016, entered an order
authorizing John M. Wolfe, the duly appointed Chapter 11 Trustee
for the bankruptcy estate of Energy Development Corporation and
Stephen T. Harris, to sell the Debtors' assets to Powerdrive Oil
and Gas Company LLC.

At the sale hearing on June 8, 2016, an auction was held consistent
with the Bidding Procedures approved by order entered May 18, 2016.
At the conclusion of the auction,

  (a) the Court confirmed as the highest bid the offer of
Powerdrive Oil, in the aggregate amount of $2,215,000, allocated
$1,662,500 to the EDC estate (subject to a further $10,000
suballocation to the Harris Estate as provided in the APA) and
$552,500 to the South Coast Oil Corporation ("SCOC") estate; and

  (b) confirmed as the backup bid the offer of Pacifoco, Inc. based
on the form of the Asset Purchase Agreement (the "APA") between the
Trustee and the Backup Bidder dated as of April 8, 2016, in the
aggregate amount of the consideration set forth in the Backup
Bidder APA, plus additional consideration at closing consisting of
$700,000 cash, with such additional consideration to be allocated
75% to EDC and 25% to SCOC.

The Trustee has been actively marketing the Debtor's assets for
sale.  While the Trustee received a number of offers and/or
expressions of interest, the Trustee concluded that the best offer
it received was from Powerdrive.

The "Purchased Assets" consist of substantially all of the assets
of SCOC, EDC and specified assets of Harris.

                  About Energy Devt. Corporation

Stephen Thomas Harris sought Chapter 11 protection (Bankr. C.D.
Cal. Case No. 06-11174) on July 21, 2006.  Related entity,
Huntington Beach, California-based Energy Development Corporation
simultaneously sought Chapter 11 protection (Case No. 06-11175).

EDC's business involved rights to subsurface mineral rights, drill
sites and wells, related tools and equipment and intangible rights
with respect to oil wells located in the town-lot portion of the
Huntington Beach Oil Field (the "HB Wells"), and two wells in the
adjacent West Newport Oil Field (collectively with the HB Wells,
the "EDC Wells").  The HB Wells were assigned, conveyed and
transferred to EDC by South Coast Oil Corporation ("SCOC")
pursuant
to an Assignment recorded May 10, 2001, as Document No.
20010298788, Official Records, Orange County, California (the
"2001
Assignment").  EDC also had certain rights or claims regarding the
State Lease PRC, 145.1 Offshore Lease located on County of Ventura
surface lands (the "Rincon Assets"), which had also been assigned
to EDC by SCOC.  EDC's primary business mission was to produce oil
and gas directly from existing oil and gas wells.  At the outset
of
these cases, Harris was engaged in operating EDC and the funds of
the two estates were combined.

EDC estimated assets and debt of $10 million to $50 million.

Simon H. Langer, Esq., in Los Angeles, California, represented the
Debtors.

John M. Wolfe was later appointed Chapter 11 Trustee for the
bankruptcy estates of EDC and Mr. Harris.  

Counsel for the Chapter 11 Trustee:

         Philip A. Gasteier
         LEVENE, NEALE, BENDER, YOO & BRILL L.L.P.
         10250 Constellation Boulevard, Suite 1700
         Los Angeles, CA 90067
         Telephone: (310) 229-1234
         Facsimile: (310) 229-1244
         E-mail: pag@lnbyb.com


ENERGY XXI: Egan-Jones Lowers FC Sr Unsec. Rating to D From CCC+
----------------------------------------------------------------
Egan-Jones Ratings Company downgraded the foreign currency senior
unsecured rating on debt issued by Energy XXI Ltd to D from CCC+ on
June 7, 2016.  EJR also lowered the local currency senior unsecured
rating on the Company's debt to D from C.

Energy XXI Ltd was incorporated in Bermuda on July 25, 2005. With
its principal operating subsidiary headquartered in Houston, Texas,
Energy XXI is engaged in the acquisition, exploration, development
and operation of oil and natural gas properties onshore in
Louisiana and Texas and in the Gulf of Mexico Shelf.


ESSAR STEEL: Enters Into Asset Purchase Agreement with KPS Capital
------------------------------------------------------------------
Essar Steel Algoma Inc. on June 17, 2016, disclosed that it has
entered into an asset purchase agreement ("APA") for the sale of
substantially all of the Company's assets to a consortium of
bidders formed by KPS Capital Partners, LP ("KPS") and the
Company's prepetition term lenders.  The Company is serving a
motion today with the Ontario Superior Court of Justice seeking
approval of the APA.

KPS is a leading private equity firm in the manufacturing sector,
with a track record for transforming businesses into vibrant
independent companies.

The consortium bid includes cash consideration, a credit bid
equivalent to the term loan, and the assumption of certain
liabilities.

In addition to the court approval process, closing the transaction
is subject to a number of conditions relating to employee and
benefit matters including pension plans and collective agreements,
capital projects, and environmental matters.  The transaction is
also subject to customary regulatory approvals.

"We are pleased that we have reached this point in the CCAA process
and look forward to exiting.  The new company formed by the
consortium will securely position New Algoma with a capital
structure to sustain all phases of the steel cycle," said Kalyan
Ghosh, President and CEO of Essar Steel Algoma.  "We are also well
within the timeline set out in our restructuring plan."

Upon court approval of the sale, the parties will work to satisfy
the conditions as set out in the Asset Purchase Agreement.  The
transaction is slated to close on or before August 31, 2016.   In
the interim it remains business as usual at Essar Steel Algoma.

                       About Essar Steel

Headquartered in Sault Ste. Marie, Ontario, Canada, ESA is an
integrated steel producer.  Approximately 80% to 85% of ESA's sales
are sheet products with plate products accounting for the balance.

For the 12 months ending December 31, 2013, ESA generated revenues
of C$1.8 billion.

Robert J. Sandoval filed a petition under Chapter 15 of the U.S.
Bankruptcy Code for Essar Steel Algoma Inc., and its debtor
affiliates on July 16, 2014, following the companies' initiation
of a reorganization under Canada's Companies' Creditors Arrangement
Act.  The lead case is Essar Steel Algoma Inc., Case No. 14-11730
(D. Del.).  Essar Steel operates one of Canada's largest integrated
steel manufacturing facilities.  The Chapter 15 case is assigned to
Judge Brendan Linehan Shannon.  The Chapter 15 Petitioner's Counsel
is Daniel J. DeFranceschi, Esq., and Amanda R. Steele, Esq., at
Richards, Layton & Finger, P.A., in Wilmington, Delaware.


EXTREME REACH: S&P Raises CCR to 'B', Outlook Stable
----------------------------------------------------
S&P Global Ratings said it raised its corporate credit rating on
Needham, Mass.-based Extreme Reach Inc. to 'B' from 'B-'.  The
outlook is stable.

At the same time, S&P raised its issue-level rating on the
company's first-lien term loan and revolving facility to 'BB-' from
'B+'.  The '1' recovery rating remains unchanged, indicating S&P's
expectation for very high (90%-100%) recovery of principal in the
event of a payment default.

S&P also raised its issue-level rating on Extreme Reach's
second-lien term loan, to 'B-' from 'CCC', and revised S&P's
recovery rating to '5' from '6'.  The '5' recovery rating indicates
S&P's expectation for meaningful (10%-30%; lower half of the range)
recovery of principal in the event of a payment default.
The rating action reflects S&P's view of the company's increased
voluntary first-lien paydowns over the past few quarters that have
improved the recovery score on the second-lien term loan.

"The ratings reflect our view that the proposed amendments to
Extreme Reach's credit agreement have significantly lowered the
risk that the company could violate its leverage covenant within
the next 12 to 18 months," said S&P Global Ratings credit analyst
Dylan Singh.

The amendment includes an opening covenant of 4.50x with cushions
of more than 15% over S&P's two-year forecast horizon.  Previously,
covenants were 4.25x as of June 30, 2016, 4.00x as of Sept. 30,
2016, and 3.75x as of Dec. 31, 2016.

In addition, the proposed amendment lowers the mandatory
amortization to 7.5% from 10.0%.  S&P expects this to provide
relief to the company's cash flows and significantly lower the
likelihood that the company may need to draw on its revolving
facility to meet its amortization payments.

The stable outlook reflects S&P's expectation that the company will
maintain adequate liquidity with EBITDA covenant cushions above 15%
over the next 12 to 18 months and DCF to debt of more than 5% over
S&P's forecast horizon.


FERGUSON CONVALESCENT: UST Wants Chapter 11 Trustee
---------------------------------------------------
Daniel M. McDermott, United States Trustee for Region 9, asks the
U.S. Bankruptcy Court for the Eastern District of Michigan to order
the appointment of a Chapter 11 trustee in the case of Ferguson
Convalescent Home, Inc.

"The Debtor, over a period of several years, has fallen into a
pattern of financial mismanagement.  Ferguson Convalescent Home,
Inc. is a two-time chapter 11 Debtor.  It has willfully failed to
pay trust fund taxes owed to the Internal Revenue Service. Ferguson
has demonstrated an inability to fulfill its duties as a
Debtor-in-Possession and failed to competently manage the financial
affairs of the business," the U.S. Trustee said.

                          Sale of Debtor

At the 11 U.S.C. Sec. 341 First Meeting of Creditors on March 30,
2016, Paul Ferguson, the Debtor's vice president, testified about
the financial affairs of the Debtor.  Mr. Ferguson is actively
involved in the day to day operations of the business, managing
several aspects of its operations.

According to Mr. Ferguson, the Debtor intends to sell the business
as a going concern.  Mr. Ferguson testified that a sale would not
be complete for at least three to six months.  Although the Debtor
has been contacted by potential purchasers, there is no evidence of
progress towards a sale in the two and a half months since the 341
Meeting. The Debtor has not employed a professional broker to
assist with the contemplated sale.  The Plan of Reorganization is
due Aug. 22, 2016.

The U.S. Trustee asserts that Mr. Ferguson cannot properly manage
day-to-day operation of a convalescent center, handle the financial
affairs of a chapter 11 Debtor and prepare the corporation for sale
all at the same time.

                 About Ferguson Convalescent Home

Ferguson Convalescent Home, Inc., filed a Chapter 11 bankruptcy
petition (Bankr. E.D. Mich. Case No. 16-30397) on Feb. 24, 2016.
The case is pending before the Honorable Daniel S. Opperman.  The
Debtor is represented by Martin W. Hable, Esq., in Lapeer, Mich.

This is the second chapter 11 filing for this same Debtor.  The
Debtor's first bankruptcy case was filed in 2010 (Case No.
10-31918).

The Debtor is a privately owned and licensed long term skilled
nursing facility located at 239 S. Main St., Lapeer, Mich.  It
consists of 87 licensed beds, located within a leased facility.
The Debtor currently has 54 residents and employs nearly 100 full
and part-time employees.


FLORHAM PARK: Taps Webber McGill as Legal Counsel
-------------------------------------------------
Florham Park Surgery Center LLC seeks approval from the U.S.
Bankruptcy Court for the District of New Jersey to hire Webber
McGill LLC as its legal counsel.

The Debtor tapped the firm to:

     (a) give advice about its rights, powers and duties in its
         Chapter 11 case;

     (b) assist the Debtor in its consultations with creditors  
         relative to the administration of the case;

     (c) assist the Debtor in negotiating, formulating and
         proposing a plan of reorganization;

     (d) prosecute legal actions on behalf of the Debtor's estate;

     (e) prepare legal papers; and

     (f) represent the Debtor at all hearings and other
         proceedings.

The hourly rate for Webber McGill attorneys ranges from $290 to
$425 while the hourly rate for paralegals is $115.  

Douglas McGill, Esq., at Webber McGill, disclosed in a court filing
that the firm is "disinterested" as defined in section 101(14) of
the Bankruptcy Code.

The firm can be reached through:

     Douglas J. McGill
     Webber McGill LLC
     760 Route 10, Suite 104
     Whippany, New Jersey 07981
     (973) 739-9559

                    About Florham Park Surgery

Florham Park Surgery Center LLC filed a voluntary Chapter 11
petition (Bankr. D.N.J. Case No. 16-16964) on April 11, 2016 .  The
case is assigned to Judge John K. Sherwood.  The Debtor is
represented by Daniel Stolz, Esq., at Wasserman Jurista & Stolz, in
Basking Ridge, N.J.

The Debtor disclosed estimated assets of between $100,000 to
$500,000 and liabilities of between $1 million to $10 million as of
the Chapter 11 filing.


FRANCIS MACHI, JR.: Jeffrey Sikirica Named Trustee
--------------------------------------------------
Judge Carlota M. Bohm approved the U.S. Trustee's appointment of
Jeffrey J. Sikirica, Esq., at Chapter 11 trustee in the bankruptcy
case of Francis M. Machi, Jr.

To the best of the Applicant's knowledge, Mr. Sikirica's
connections with the debtor, creditors, and any other parties in
interest, their respective attorneys and accountants, the United
States Trustee, and persons employed in the Office of the United
States Trustee are limited to the connections set forth in Mr.
Sikirica's verified statement.

Francis M. Machi, Jr., sought Chapter 11 protection (Bankr. W.D.
Pa. Case No. 14-23154) in 2014.


GENERAL CABLE: S&P Lowers CCR to 'B' on High Debt Leverage
----------------------------------------------------------
S&P Global Ratings said that it has lowered its corporate credit
rating on General Cable Corp. to 'B' from 'B+'.  The outlook is
stable.

At the same time, S&P lowered its issue-level rating on the
company's senior unsecured notes to 'B-' from 'B'.  The '5'
recovery rating remains unchanged, indicating S&P's expectation for
modest (10%-30%; upper half of the range) recovery in the event of
a payment default.

Additionally, S&P lowered its issue-level rating on the company's
subordinated debt to 'CCC+' from 'B-'.  The '6' recovery rating
remains unchanged, indicating S&P's expectation for negligible
(0%-10%) recovery in the event of a payment default.

"The downgrade reflects our belief that General Cable's credit
measures will remain more in line with a highly leveraged financial
risk profile for at least the next 12 months due to lower metals
prices in 2016 compared with realized prices in 2015, especially
for copper and aluminum, and declining volume," said S&P Global
credit analyst Patricia Mendonca.  In 2015 and the first quarter of
2016 General Cable's credit measures improved from their levels in
2014, though not at a fast enough pace to remain in line with an
aggressive financial risk profile. Specifically, the company's
adjusted leverage was 7.5x as of year-end 2015 and 8.0x as of the
rolling 12-months (RTM) ended April 1, 2016.  S&P expects that
General Cable's leverage will remain slightly above 6.0x for the
rest of 2016 before decreasing to slightly above 5.5x in 2017,
which is more aligned with a highly leveraged financial risk
profile and a 'B' corporate credit rating.

The stable outlook reflects S&P's expectation that General Cable
will generate approximately $200 million of EBITDA in 2016 while
maintaining leverage in the 6.0x-6.5x range and FFO-to-debt of
9%-12%.  It also reflects S&P's expectation that the company will
gradually improve its profitability and strengthen its cash flow
generation as it starts to reap the benefits from its restructuring
program and noncore asset sales.

S&P could lower its ratings on General Cable by one notch in the
next 12 months if its EBITDA margin declines -- which could prompt
S&P to revise its assessment of its business risk profile to weak
-- and pushes its leverage beyond 8x.  S&P could also lower the
ratings if it assess the company's liquidity as less than adequate,
which could occur if General Cable's operating performance weakens
and causes its liquidity sources to become less than 1.2x its
uses.

It is unlikely that S&P would upgrade General Cable over the next
12 months given S&P's expectation for declining metal prices in
2016.  However, S&P could upgrade the company if it is able to
reduce its debt leverage to less than 5x and increase its
FFO-to-debt ratio to more than 12% on a sustained basis.


HALCON RESOURCES: Soliciting Votes for Prepackaged Plan
-------------------------------------------------------
Halcon Resources Corporation commenced a solicitation for
acceptance of its Prepackaged Chapter 11 plan of reorganization on
June 20, 2016.

As previously disclosed, on June 9, 2016, Halcon Resources entered
into a restructuring support agreement with certain of its
stakeholders with respect to the terms of a Chapter 11, pursuant to
which, among other things, the Company will (a) commence a
solicitation for acceptance of a pre-packaged plan of
reorganization based on the restructuring transactions contemplated
by the RSA, (b) if certain approval levels are attained from the
stakeholders, file voluntary petitions for relief under chapter 11
of the United States Bankruptcy Code in the U.S. Bankruptcy Court
in the District of Delaware, and (c) seek approval of the Plan by
the Bankruptcy Court.

The Debtors are proposing a Restructuring that, pursuant to the
Plan, will provide substantial benefits to the Debtors and all of
their stakeholders, including, without limitation, the following:

   * The Restructuring will leave the Debtors' business intact and
     substantially de-levered, providing for the reduction of
     approximately $1.8 billion of the Debtors' existing net debt
     and approximately $200.0 million of the Debtors' annual cash
     interest expense upon the completion of the Restructuring.  
     This deleveraging will enhance the Debtors' long-term growth
     prospects and competitive position and allow the Debtors to
     emerge from their Chapter 11 cases as reorganized entities
     better positioned to withstand depressed oil and natural gas
     prices.

   * In addition, the Restructuring will allow the Debtors'
     management team to focus on operational performance and value

     creation.  A significantly-improved balance sheet will enable

     the Reorganized Debtors to pursue value-creating acquisitions

     in a depressed commodity price environment.  Post
     -Restructuring, the Debtors anticipate having access to
     capital markets that are not available to them today.
     Furthermore, by enhancing their capital structure, the
     Debtors will have the ability to accelerate drilling activity

     if prices recover.

   * Moreover, the Restructuring proposed under the Plan provides
     recoveries to all of the Debtors' stakeholders.  If each of
     the Voting Classes of Creditors and Interest holders votes to
     accept the Plan, the Plan provides for a recovery to each   
     class of Creditors and Interest Holders under the Plan in the
     form of New Common Shares, Cash, New Warrants or a
     combination thereof.  Distributions of equity in the
     Reorganized Debtors will allow certain stakeholders to
     participate in potential future upside in the Reorganized
     Debtors.  The proposed Restructuring has the additional
     benefit of ensuring that management remains highly committed
     to the future of the Reorganized Debtors.

There are four primary creditor and interest groups whose
acceptances of the Plan are being solicited:

  1. Holders of Third Lien Note Claims (Class 5);

  2. Holders of Unsecured Note Claims (Class 6);

  3. The Holder of the Convertible Note Claims (Class 7); and

  4. Holders of Preferred Stock Interests (Class 11).

Other Priority Claims (Class 1) / Other Secured Claims (Class 2):
The holders of Allowed Other Priority Claims in Class 1 and Allowed
Other Secured Claims in Class 2 are unimpaired and, except to the
extent that a holder of an Allowed Other Priority Claim or Allowed
Other Secured Claim against any of the Debtors agrees to less
favorable treatment, each such holder will receive payment in full
on account of its Claim as provided in the Plan.

Revolving Credit Agreement Claims (Class 3):  Holders of Allowed
Class 3 Revolving Credit Agreement Claims are unimpaired and will
receive, on the Effective Date, in full and final satisfaction of
such Allowed Revolving Credit Agreement Claims, their pro rata
share of the commitments and/or loans of a credit facility made
pursuant to an amendment or an amendment and restatement of the
Revolving Credit Agreement (or any replacement financing) with
aggregate revolving loan commitments of not less than $600,000,000
thereunder.  The Amended Revolving Credit Agreement will be in form
and substance (a) reasonably satisfactory to the Requisite
Unsecured Noteholders, and (b) satisfactory to the Requisite Third
Lien Noteholders.  The proceeds from the Amended Revolving Credit
Agreement, plus cash on hand, will be used by the Debtors to (1)
provide additional liquidity for working capital and general
corporate purposes; (2) pay all reasonable and documented
Restructuring Expenses; (3) fund distributions to be made under the
Plan; and (4) fund the administration of the Chapter 11 Cases.  The
Debtors may elect to seek funding for the Chapter 11 Cases by means
of debtor-in-possession financing, which DIP Financing may include
a "roll-up" of some or all of the Amended Revolving Credit
Agreement Claims, but, for the avoidance of doubt, no "roll-up" of
any Second Lien Note Claims or Third Lien Note Claims.  The terms
of any DIP Financing will be (a) in form and substance reasonably
satisfactory to the Requisite Unsecured Noteholders, and (b) in
form and substance satisfactory to the Debtors and the Requisite
Third Lien Noteholders.

Second Lien Note Claims (Class 4):  The legal, equitable, and
contractual rights of the holders of Allowed Class 4 Second Lien
Note Claims are unaltered by the Plan.  On the Effective Date, the
holders of Allowed Second Lien Note Claims will have their Allowed
Second Lien Note Claims reinstated.

Third Lien Note Claims (Class 5):  Holders of Allowed Class 5 Third
Lien Note Claims will receive, on the Effective Date, in full and
final satisfaction of such Allowed Third Lien Note Claims, their
Pro Rata shares of: (a) common stock, par value $0.0001 per share
in Reorganized Holdings representing, after giving effect to the
Restructuring, in the aggregate, 76.5% of the total outstanding
shares of Reorganized Holdings (subject to dilution by the
Management Incentive Plan and, to the extent applicable, the
exercise of the New Warrants); and (b) Cash in the amount of
$33,825,588.

Unsecured Note Claims (Class 6):  Subject to the limitations,
holders of Allowed Class 6 Unsecured Note Claims will receive, on
the Effective Date, in full and final satisfaction of such Allowed
Unsecured Note Claims, their Pro Rata share of: (a) Cash in the
amount of $37,595,657; (b) New Common Shares, representing, after
giving effect to the Restructuring, in the aggregate, 15.5% of the
total outstanding shares of Reorganized Holdings (subject to
dilution by the Management Incentive Plan and, to the extent
applicable, the exercise of the New Warrants); and (c) warrants to
purchase 4.0% of the New Common Shares outstanding as of the
Effective Date immediately upon the consummation of the
Restructuring, subject to dilution by the Management Incentive
Plan, exercisable for a four (4) year period commencing on the
Effective Date at a per share exercise price equal to $1.33 billion
divided by the total number of New Common Shares issued and
outstanding as of the Effective Date.

Convertible Note Claims (Class 7):  Subject to the limitations, on
the Effective Date, the holder of the Allowed Class 7 Convertible
Note Claims will receive: (a) Cash in the amount of $15.0 million;
(b) New Common Shares, representing, after giving effect to the
Restructuring, in the aggregate, 4.0% of the total outstanding
shares of Reorganized Holdings; and (c) warrants to purchase 1.0%
of the New Common Shares outstanding as of the Effective Date
immediately upon the consummation of the Restructuring, subject to
dilution by the Management Incentive Plan, exercisable for a four
(4) year period commencing on the Effective Date at a per share
exercise price equal to $1.33 billion divided by the total number
of New Common Shares issued and outstanding as of the Effective
Date.

General Unsecured Claims (Class 8):  The rights of holders of
Allowed Class 8 General Unsecured Claims will be left unaltered by
the Plan, and the Debtors will continue to pay or dispute each
General Unsecured Claim in the ordinary course of business.

Intercompany Claims (Class 9) / Intercompany Interests (Class 10):
Intercompany Claims in Class 9 and Intercompany Interests in Class
10 are unimpaired under the Plan and will be adjusted, reinstated
or discharged to the extent determined to be appropriate by the
Debtors (and, with respect to Intercompany Claims, subject to the
consent of the Requisite Third Lien Noteholders and Requisite
Unsecured Noteholders, which consent will not be unreasonably
withheld).

Preferred Stock Interests (Class 11):  Subject to the limitations
set forth below, the holders of Allowed Class 11 Preferred Stock
Interests will receive, on the Effective Date, their Pro Rata share
of Cash in the amount of $11.1 million.

Existing Equity Interests (Class 12):  On the Effective Date, all
Class 12 Existing Equity Interests will be cancelled, and the
holders of Existing Equity Interests will receive New Common Shares
representing, in the aggregate, 4.0% of the total outstanding
shares of Reorganized Holdings (subject to dilution by the
Management Incentive Plan and, to the extent applicable, the
exercise of the New Warrants).

A copy of the Disclosure Statement is available for free at:

                       https://is.gd/SqxqKK

                       About Halcon Resources

Halcon Resources Corporation acquires, produces, explores and
develops onshore liquids-rich assets in the United States.  This
independent energy company operates in the Bakken/Three Forks, El
Halcon and Tuscaloosa Marine Shale formations.

Halcon Resources reported a net loss available to common
stockholders of $2 billion on $550 million of total operating
revenues for the year ended Dec. 31, 2015, compared to net income
available to common stockholders of $283 million on $1.14 billion
of total operating revenues for the year ended Dec. 31, 2014.

                           *      *      *

As reported by the TCR on Jan. 27, 2015, Moody's Investors Service
downgraded Halcon's Corporate Family Rating to 'Caa1' from 'B3'
and the Probability of Default Rating to 'Caa1-PD' from 'B3-PD'.
The downgrade reflects growing risk for Halcon's business profile
because of high financial leverage and limited liquidity as its
existing hedges roll-off and stop contributing to its borrowing
base over the next 12-18 months.

In September 2015, Standard & Poor's Ratings Services lowered its
corporate credit rating on Oklahoma City-based Halcon Resource
Corp. to 'SD' (selective default) from 'B-'.  "The downgrade
follows Halcon's announcement that it reached an agreement with
holders of portions of its senior unsecured notes to exchange the
notes for new senior secured third-lien notes," said Standard &
Poor's credit analyst Ben Tsocanos.


HANESBRANDS INC: S&P Assigns 'BB' CCR, Outlook Negative
-------------------------------------------------------
S&P Global Ratings assigned its 'BB' corporate credit rating on HBI
Australia Acquisition Co. Pty Ltd.  The outlook is negative.

HBI Australia Acquisition Co. Pty Ltd. is a financing vehicle
within the Hanesbrands group that is issuing debt to fund the
recently announced $800 million acquisition of Pacific Brands
Limited, an underwear and intimate apparel company in Australia,
expected to close in the third quarter of 2016.  S&P views HBI
Australia Acquisitions Co. Pty Ltd. as a core entity in the
Hanesbrands group, to which ratings are equalized.

S&P assigned its 'BBB-' issue-level rating to HBI Australia
Acquisition Co. Pty Ltd.'s proposed first-lien facilities, which
include the A$65 million revolving credit facility expiring 2021,
A$200 term loan due 2019, and A$200 million term loan due 2021.
Concurrently, S&P assigned its '1' recovery rating on the
facilities, indicating its expectation of very high (90% to 100%)
recovery in the event of payment default.

"The negative outlook reflects the potential that the credit
metrics of the Hanesbrands group may not improve in line with our
base-case forecast by the end of the fourth quarter ending Dec. 31,
2016, should the company encounter difficulty integrating its
recently announced acquisitions," said S&P Global Ratings credit
analyst Peter Deluca.


HARKAND GULF: Files for Ch. 15 Bankruptcy to Further UK Liquidation
-------------------------------------------------------------------
Harkand Gulf Contracting Limited, Harkand Global Holdings Limited
and Integrated Subsea Services Limited filed Chapter 15 petitions
in the U.S. Bankruptcy Court for the Southern District of Texas on
June 20, 2016, seeking recognition in the United States of
insolvency proceedings currently pending in the United Kingdom.
Petitioners Ian Wormleighton, Philip Stephen Bowers and Michael
Magnay, as joint administrators of the Debtors, believe that the
filing will facilitate the liquidation of the Debtors' estates in
the UK Proceedings and protect certain of the Debtors' property and
other interests in the United States.

According to Court documents, Harkand's business was closely tied
to that of exploration and production operators around the world.
Prior to commencing insolvency proceedings in the United Kingdom,
the Debtors were part of a family of companies known as the Harkand
group that provided subsea capabilities and services to the
offshore oil and gas industry.

"The recent and prolonged depression in crude oil prices
significantly decreased demand for Harkand's services, negatively
impacting Harkand's operating performance and constraining
liquidity," according to Zack A. Clement, Esq., at Zack A. Clement
PLLC, one of the Petitioners' attorneys.  "As a result, Harkand
struggled to meet its debt payment obligations and, ultimately
determined that commencing the UK Proceedings and the proceedings
commenced by other members of the Harkand Group was its only viable
option."

In February 2016, Harkand's management engaged its various
creditors -- specifically ABN AMRO Lease N.V., Nordea Bank AB,
London Branch, Veolia ES Special Services, Inc. and certain holders
of senior secured bonds due in 2019 -- as well as other key
stakeholders, in an effort to consensually restructure Harkand's
debt obligations but to no avail.

Faced with operations that were crippled by creditor collection
efforts and an imminent liquidity crisis, the Debtors officially
commenced insolvency proceedings in the United Kingdom in April
2016.  The decision was made after Harkand failed to secure the
needed working capital of approximately $20 million for it to
continue as a going concern and ceased all business operations,
with the exception of parts of its US business and its survey
operations.

Prior to the commencement of the insolvency proceedings,
management, with the assistance and advice of its advisors,
negotiated with Ethos Offshore and certain of its affiliates
ultimately owned and controlled by funds managed by Oaktree, the
ultimate beneficial owner and a creditor of various Harkand Group
companies, and determined that a sale following the commencement of
administration proceedings in the United Kingdom was the best
course of action and would provide greater value than a piecemeal
liquidation of the group.

The Petitioners, acting as agents of certain Harkand entities
including HGHL and HGCL, entered into a share and asset purchase
agreement with the Ethos Group and consummated the sale of its US
and West African operations to the Ethos Group.  With respect to
HGCL, the Transaction included HGCL's sale of its shares in Harkand
Arena S.A.P.I de C.V., its Mexican subsidiary, and sale of certain
of its customer contracts.  Pre-administration, HGCL had
approximately $8 million in customer receivables; the Transaction
preserved those receivables for HGCL's estate and obligated the
Ethos Group to assist the Petitioners in collecting the receivables
and distributing receipts to HGCL's creditors.  Further, the share
sale of HGCL's Mexican subsidiary ensured that it would continue to
operate and maintain its workforce, and enabled HGCL to realize
measurable value for its creditors as compared to a break up or
liquidation of HGCL that would have created no value.

With respect to HGHL, the Transaction included the sale of HGHL's
intellectual property in the Harkand Group including, but not
limited to, the "Harkand" name and all trademarks, service marks
and business names which includes all domain names owned by the
Harkand Group, all information, data and records relating primarily
to the Harkand business, and all intellectual property rights.  The
Transaction additionally included the sale of Harkand LLC.  The
Transaction had the support of Harkand's management, Oaktree, and
Shipco, whose support was critical to the performance of key
customer contracts in West Africa.

Currently, the Petitioners are continuing to recover value for the
estates of the Debtors (as well as the other UK Debtors) for the
ultimate purpose of distributing assets to creditors.  Steps the
Petitioners are currently taking include:

   a. negotiating the sale of Harkand's survey business to a trade
      buyer, which will realize value to the estate of ISS (the
      survey business being a corporate subsidiary of ISS);

   b. attempting to collect the approximately $8 million in
      customer receivables owed to HGCL;

   c. cooperating with ABN to help find third party operators
      potentially interested in leasing or purchasing the ROVs;
      and

   d. engaging with holders of the Secured Bonds to recover
      Harkand property and equipment currently located on board
      the Bondholder Vessels.

Upon commencement of the UK Proceedings, a moratorium goes into
effect pursuant to the 1986 Act, which is similar to an automatic
stay under Section 362 of the Bankruptcy Code, to prevent creditor
actions that could interfere with an orderly administration.
Notwithstanding the moratorium, on May 6, 2016, Titan Logistics and
Support Services, Ltd., a company based in Trinidad and Tobago,
filed a lawsuit in the District Court of Harris County, Texas,
against HGCL, Harkand LLC, certain member of the Ethos Group, and
Anglo-Eastern (UK) Limited, another Titan debtor.  Titan alleges
breach of a master services agreement and fraudulent transfers
involving the transaction with Ethos Group and seeks, among other
things, monetary damages from HGCL totaling $2.58 million and a
writ of attachment on assets transferred to the Ethos Group.
Further, certain Debtors and UK Debtors, including HGHL, are
parties to other litigation pending in the United States, about
which the Petitioners have limited information.

A copy of the declaration in support of the Petitions is available
for free at:

        http://bankrupt.com/misc/2_HARKAND_Declaration.pdf


HERCULES OFFSHORE: Plan Confirmation Hearing Set for July 14
------------------------------------------------------------
The Hon. Kevin J. Carey of the U.S. Bankruptcy Court for the
District of Delaware will hold a hearing on July 14, 2016, at 10:00
a.m., 824 North Market Street, Wilmington, Delaware, to consider
approval of the adequacy of the disclosure statement of Hercules
Offshore Inc. et al., and confirmation of their joint prepackaged
Chapter 11 plan.  Objections, if any, are due July 7, 2016, at 4:00
p.m. (Eastern Time).

                      About Hercules Offshore

Hercules Offshore, Inc., and its debtor and non-debtor subsidiaries
are providers of shallow-water drilling and marine services to the
oil and natural gas exploration and production industry globally.

Hercules Offshore and 13 of its subsidiaries each filed a Chapter
11 bankruptcy petition (Bankr. D. Del. Proposed Lead Case No.
16-11385) on June 5, 2016.  The petition was signed by Troy L.
Carson as vice president.

The Debtors listed total assets of $1.06 billion and total debts of
$521.37 million as of March 31, 2016.
  
The Debtors have hired Akin Gump Srauss Hauer & Feld LLP as general
bankruptcy counsel, Morris, Nichols, Arsht & Tunnell LLP as
co-counsel, PJT Partners, Inc., as financial advisor, FTI
Consulting, Inc., as restructuring advisor, and Prime Clerk LLC as
claims, notice and balloting agent.


HIDDEN VALLEY APARTMENTS: Plan to Pay $4.1MM Secured Claim in Full
------------------------------------------------------------------
Hidden Valley Apartments and Avondale Park Apartments filed with
the U.S. Bankruptcy Court for the Middle District of Tennessee,
Nashville Division, a second plan of reorganization and
accompanying disclosure statement proposing to pay Satilla
Acquisition, LLC's $4,171,000 secured claim in full.

The main secured creditor of the Debtor during the case was U.S.
Bank National Association.  On May 6, 2016, the Debtor, U.S. Bank,
and ACM Satilla LV VI LLC and its related entities entered into a
settlement agreement and refinance transaction whereby Satilla
purchased U.S. Bank's secured debt on the properties.

Payment of Satilla's secured claim requires interest-only payments
on the Notes until November 6, 2017, at which point the Notes
underlying the Satilla Claim will mature, and the entire principal
balance will be paid.

The Debtors have no unsecured creditors.

Elaina Vanders Johnson owns 90% of the Debtors, and her estranged
husband, Rufus Slayden Johnson, III, owns the remaining 10%.
Because the Plan proposes to pay all of the Debtors' creditors in
full, the owners of the Debtors will retain their respective
ownership interests in the reorganized Debtor.

A full-text copy of the Second Amended Disclosure Statement dated
June 8, 2016, is available at
http://bankrupt.com/misc/tnmb15-03468-250.pdf

                        About Avondale Park

Avondale Park Apartments and Hidden Valley Apartments sought
protection under Chapter 11 of the Bankruptcy Code in the Middle
District of Tennessee (Case Nos. 15-3468 and 15-3469) on May 20,
2015.  The petition was signed by Elaina V. Johnson, managing
general partner.

On September 9, 2015, the court ordered the joint administration of
the cases under Case No. 15-3468.  The cases are assigned to Judge
Marian F. Harrison.

Avondale Park disclosed total assets of $3.92 million and total
debts of $2.82 million.  Hidden Valley disclosed total assets of
$2.58 million and total debts of $1.42 million.


HOUMA DOLLAR: Richardson Buying Commercial Building for $1.04M
--------------------------------------------------------------
Houma Dollar Partners, LLC, asks the U.S. Bankruptcy Court for the
Western District of Louisiana, Lake Charles Division, to authorize
the sale of its immovable property located in Shallowater, TX,
Lubbock County that consists of a 8,988 square foot commercial
building to Mitch Richardson, or his assigns, for $1,040,000.

The purchase price reflects the fair market value that was stated
in the appraisal, commissioned by BB&T Bank on Jan. 31, 2014.

This "Property" is subject to a real estate mortgage in favor of
BB&T Bank and a lease with Dollar General Corp. that expires April
30, 2030 and includes three, 5-year option periods.  The Debtor
intends to sell the Property free and clear of all liens and
mortgages and that all mortgages and liens attach to the proceeds
of the sale allowing the net proceeds be paid directly to the
secured creditor, BB&T Bank.  The net proceeds is the amount
remaining after paying the costs associated with the sale.

Due to requirements made by the Title Co. that is handling the
closing and the request of the Clerk of Court for this county, the
Order approving the sale must include the following specific
language "that all mortgage and liens affecting the property being
sold shall be cancelled and erased INSOFAR AND ONLY INSOFAR as they
affect the described property, including without limitation the
following described encumbrances:

   a) Deed of Trust dated Aug. 19, 2009, executed by Houma Dollar
Partners LLC, a Louisiana limited liability company to Richard A.
Wright Esq., Trustee, securing the payment of one certain
promissory note in the principal amount of $637,500.00, payable to
Colonial Bank, filed of record under Clerk's File No. 2009033708,
Official Public Records of Lubbock County, TX, fully releasing said
lien as to the subject tract of land; assigned to BB&T Co., a
national banking association, as shown by instrument recorded under
Clerk's File No. 2012015398, Official Public Records of Lubbock
County, TX.

   b) Second Lien Deed of Trust dated Nov. 15, 2010, executed by
Houma Dollar Partners LLC, a Louisiana limited liability company to
R Land Addison, Trustee, securing the payment of one certain
promissory note in the principal amount of $32,670, payable to
Brady Miller and Charles Baucum, filed of record under Clerk's File
No. 2010039927, Official Public Records of Lubbock County, TX,
fully releasing said lien as to the subject tract of land.

   c) Abstract of Judgment, wherein the plaintiff, TMS
Environmental Austin LLC recovered judgment against the defendant,
Houma Dollar Partners LLC and Reeves Development LLC, under Cause
No. D-1GN-09-003009 the amount of $112,411.29, said Abstract of
Judgment filed of record on June 21, 2010 under Clerk's File No.
2010019702, Official Public Records of Lubbock County, TX.

   d) Mechanic's Lien executed by S&T Materials LLC as Claimant,
against Houma Dollar Partners LLC and Houma Texas Dollar Partners
LLC in the amount of $55,936.03 filed for record on May 17, 2010
under Clerk's File No. 2010015503, Official Public Records of
Lubbock County, TX.

   e) Mechanic's Lien executed by Charles Baucum Electric as
Claimant, against Houma Dollar Partners LLC in the amount of
$54,699.91, filed for record on May 19, 2010 under Clerk's File No.
2010015638, Official Public Records of Lubbock County, TX.

   f) Mechanic's Lien executed by Border States Electric Inc. as
Claimant, against Reeves Development in the amount of $2,591.18,
filed for record on Jun. 18, 2010 under Clerk's File No.
2010019571, Official Public Records of Lubbock County, TX.

   g) Mechanic's Lien executed by Otis Brothers as Claimant,
against Houma Dollar Partners LLC, a Louisiana limited liability
company in the amount of $1,900, filed for record on Jul. 7, 2010
under Clerk's File No. 2010022200, Official Public Records of
Lubbock County, TX.

   h) Mechanic's Lien executed by Ahern Rentals Inc. as Claimant,
against Houma Dollar Partners LLC in the amount of $6,734.56, filed
for record on Jul. 15, 2010 under Clerk's File No. 2010023497,
Official Public Records of Lubbock County, TX.

   i) Mechanic's Lien executed by Acme Brick as Claimant, against
Houma Dollar PTRS LLC in the amount of $3,439.29, filed for record
on Jul. 15, 2010 under Clerk's File No. 2010023583, Official Public
Records of Lubbock County, TX.

   j) Mechanic's Lien executed by Strickland Plumbing Inc. as
Claimant, against Houma Dollar Partners and Reeves Development LLC
in the amount of $19,475, filed for record on April 15, 2010 under
Clerk's File No. 2010011357, Official Public Records of Lubbock
County, Texas; and as re-filed under Clerk's File No. 2010015934,
Official Public Records of Lubbock County, TX.

According to the Debtor, time is of the essence and it is in the
best interest of the estate that the time for filing objections be
shortened from 21 days to six days in order that the sale is not
delayed.  A separate motion to shorten notice delays will be
filed.

Houma Dollar Partners, LLC, is represented by:

          Gerald J. Casey
          613 Alamo St.
          Lake Charles, LA 70601
          Telephone: (337) 474-5005
          E-mail: gcasey@caseylaw.net

                    About Houma Dollar Partners

Houma Dollar Partners, LLC sought Chapter 11 protection (Bankr.
W.D. La. Case No. 12-20649) on June 29, 2012.  Judge Robert
Summerhays is assigned to the case.  The Debtor estimated assets
$1,000,001 to $10,000,000 and $1,000,001 to $10,000,000 in debt.
Gerald J. Casey, Esq. serves as counsel.  The petition was signed
by Charles Reeves, Jr., manager.


I-69 DEVELOPMENT: S&P Retains BB+ Bonds Rating on CreditWatch Neg.
------------------------------------------------------------------
S&P Global Ratings said that its 'BB+' rating on the Indiana
Finance Authority's $243.845 million long-term private activity
bonds series 2014 (tranches that are fully amortized in 2046)
borrowed by I-69 Development Partners LLC remains on CreditWatch,
where it was placed with negative implications on March 30, 2016.
S&P's recovery rating remains unchanged at '1', reflecting its
expectation of very high (90%-100%) recovery.

"The CreditWatch listing reflects our uncertainty that the
construction schedule will remain on track and our need to further
monitor performance," said S&P Global Ratings credit analyst Tony
Bettinelli.



IMMUCOR INC: S&P Lowers CCR to 'CCC+' on Operating Weakness
-----------------------------------------------------------
S&P Global Ratings lowered its corporate credit rating on Immucor
Inc. to 'CCC+' from 'B'.  The outlook is stable.

At the same time, S&P lowered its issue-level rating on the
company's senior secured facilities to 'B-' from 'B+'.  The
recovery rating on this debt is '2', reflecting S&P's expectation
for substantial (70%-90%, at the lower end of the range) recovery
in the event of default.

S&P also lowered its issue-level rating on the company's senior
unsecured notes to 'CCC-' from 'CCC+'.  The recovery rating on this
debt is '6', reflecting S&P's expectation for negligible (0%-10%)
recovery in the event of a payment default.

"The rating downgrade follows Immucor's continued operating
underperformance over the past three quarters, with an especially
pronounced decline in the third quarter of fiscal 2016," said S&P
Global Ratings credit analyst Maryna Kandrukhin.  Immucor's
projected 2016 revenue and EBITDA are trending below S&P's previous
projections, by around $25 million and $19 million, respectively.
This trend resulted in leverage of more than 9.5x and minimal free
operating cash flow generation for the first three quarters of
fiscal 2016.  A particularly weak third quarter alone resulted in a
0.5x LTM leverage increase from the second quarter.

The downgrade reflects S&P's reduced confidence in Immucor's
ability to refinance its aging capital structure, in the light of
continued operating weakness, and S&P's view that the ongoing
industry headwinds and Immucor's operating inefficiencies will
limit the company's ability to improve its operating performance
over the next 12 to 18 months.

Immucor's growth remains constrained by continued weakness in blood
transfusion demand, both in the U.S. and Europe.  The weakness is
primarily the result of health care cost cutting initiatives in the
developed markets.

The stable outlook on Immucor Inc. reflects S&P's expectation that,
despite the projected single-digit revenue and EBITDA declines, the
company will generate enough operating cash flow to cover its
interest payments, working capital investments, and maintenance
capital expenditures over the next 12 months.

S&P could lower the rating if it becomes evident that the company
is likely to run out of its liquidity sources within the next 12
months.  If Immucor's operating performance further deteriorates to
the point where its interest coverage ratio approaches 1.0x, the
company generates meaningful cash flow deficits, its covenant
cushion declines to zero preventing access to the revolver, and its
ability to make its interest payments is uncertain, S&P would
consider a downgrade.

While unlikely over the next year, S&P could consider an upgrade if
Immucor addresses the issue with its aging capital structure and
resolves its operating inefficiencies so that profitability
improves and S&P become confident that the company will maintain
these improvements.


INNOVATIVE MACHINING: Hires Munshi CPA as Accountant
----------------------------------------------------
Innovative Machining Solutions LLC seeks permission from the U.S.
Bankruptcy Court for the Southern District of Texas to employ
Munshi CPA, P.C., with Imtiaz Munshi, CPA, as the accountant,
effective on May 16, 2016.

The professional services that Accounting Firm may render are
preparing federal and state tax returns, assembling financial
records, prepare or assist in preparing monthly operating reports
and related financial data, and to assist in preparing a disclosure
statement and plan of reorganization including, but not limited to,
investigating avoidable transfers under 11 U.S.C. Sections 544,
547, 548 and 549.

The Debtor will pay a retainer to the Accounting Firm in the amount
of $5,000.  The applicable hourly rates to be paid to the
Accounting Firm are:
  
     Imtiaz Munshi, CPA                  $300
     Thao Nguyen, Staff Accountant       $150
     Sony Joseph, Staff Accountant       $125

Imtiaz Munshi, President of the Accounting Firm, assures the Court
that the firm is a disinterested person as the term is defined by
11 U.S.C. Section 101 and that the firm's employment is in the best
interest of the estate.

The Accounting Firm can be reached at:

     Imtiaz Munshi
     Munshi CPA, P.C.
     1600 Highway 6 South, Suite 250
     Sugar Land, Texas 77478
     Tel:  (281) 313-5800
     E-mail: imunshi@munshicpa.com

Conroe, Texas-based Innovative Machining Solutions, LLC, filed for
Chapter 11 bankruptcy protection (Bankr. S.D. Tex. Case No.
16-32083) on April 25, 2016, listing $1.09 million in total assets
and $583,485 in total liabilities.  The petition was signed by Ilo
Flyod, manager.

Judge David R Jones presides over the case.

Alan Sanford Gerger, Esq., at Dunn, Neal & Gerger, L.L.P., serves
as the Debtor's bankruptcy counsel.


INTERNET BRANDS: Moody's Affirms B2 CFR on Incremental Loan
-----------------------------------------------------------
Moody's Investors Service affirmed Internet Brands, Inc.'s B2
Corporate Family Rating, B2-PD Probability of Default Rating, B1
rating on the first-lien credit facilities and Caa1 rating on the
second-lien credit facility.  The rating actions follow the
company's plans to upsize the existing $675 million outstanding
first-lien term loan by $175 million primarily to fund a dividend
to equity holders and obtain an additional $150 million delayed
draw first-lien term loan, which is intended to finance potential
acquisitions over the coming 6-12 months.  The rating outlook is
stable.

Affirmations:

Issuer: Internet Brands, Inc

  Probability of Default Rating, Affirmed B2-PD
  Corporate Family Rating, Affirmed B2

Outlook Actions:

Issuer: Internet Brands, Inc

  Outlook, Remains Stable

Ratings Affirmed:

Issuers: Micro Holding Corp. (Co-borrower MH Sub I, LLC)

  $75 Million Senior Secured Gtd Revolving Credit Facility due
   2019 - B1 (LGD-3)

  $1.0 Billion ($675 Million outstanding; $460 Million original
   issue) Senior Secured Gtd First-Lien Term Loan due 2021- B1
   (LGD-3)

  $170 Million Senior Secured Gtd Second-Lien Senior Term Loan
   due 2022 - Caa1, to (LGD-6) from (LGD-5)

Outlook Actions:

Issuer: Micro Holding Corp.
  Outlook, Remains Stable

RATINGS RATIONALE

Though the proposed $175 million incremental first-lien term loan
will increase financial leverage, Moody's expect it will be
sustained within an appropriate range for similar B2-rated issuers.
Proceeds from last year's $175 million incremental term loan were
used to fund EBITDA generating tuck-in acquisitions that deepened
Internet Brands' software-as-a-service (SaaS) and performance-based
marketing businesses.  Incorporating the acquisitions' last twelve
months EBITDA and realized cost savings, and layering in the new
$175 million term loan, pro forma total debt to EBITDA will
increase to 6.2x on a non-GAAP basis (includes Moody's adjustments
as of March 31, 2016) from 5.1x.  On a GAAP basis, pro forma
leverage will increase to 7.1x (Moody's adjusted) from 5.9x.  The
approximate one turn increase in leverage results from the absence
of additional EBITDA given the incremental debt's non-productive
use (shareholder dividend).  Although pro forma leverage is higher
than the 5.7x median for B2-rated cross-industry peers, given the
transition of the business to a subscription-based cloud services
model, Moody's believe Internet Brands can accommodate a more
leveraged capital structure.

The $150 million delayed draw term loan is subject to a pro forma
4.5x Net First-Lien Leverage test under the first-lien credit
agreement, underscoring Moody's expectation that the company will
use the proceeds to purchase EBITDA producing assets that result in
a leverage neutral outcome.  Barring no further debt-financed
acquisitions, Moody's anticipates organic earnings expansion
combined with EBITDA and cost savings from contemplated
acquisitions plus scheduled debt reduction will reduce Moody's
adjusted leverage to around 6.5x by year end 2016 and 5.9x by 2017
on a GAAP basis.

Given management's desire to increase scale, Moody's believes
Internet Brands will focus on bigger M&A targets with higher
EV/EBITDA multiples in the 7-9x range similar to the Ngage and
Demandforce acquisitions.  This shift in acquisition strategy
increases business risk, in Moody's opinion.  Larger acquisitions
take longer to integrate because they typically require cost
reductions to increase sub-par margins to the corporate average as
well as additional investment in resources to expand product mix
and grow revenue.  Moody's believes it will take 12-18 months
before M&A cost savings, revenue growth and annual run-rate EBITDA
are captured in the GAAP financials.  Further, Moody's expects
future M&A activity will be debt funded.  Hence, Internet Brands'
acquisitive growth phase will likely continue over the rating
horizon and possibly cause leverage to remain in the 6-7x range on
a GAAP basis.

The B2 rating considers Internet Brands' small revenue base,
concentrated earnings profile in cyclical consumer segments, serial
acquisition growth strategy, and inherent business risk for
internet companies to experience potential decline in website
traffic due to rapidly changing technology and industry standards.
Low entry barriers can also create potential competitive threats
from larger players that have more diverse products and services,
stronger brands and an international presence.  The rating is
supported by Internet Brands' position as an established online
media company that owns leading websites with reasonably long
operating histories and differentiated content and services
targeted to specific customer groups.  The rating recognizes good
diversification within the consumer segment and increasing exposure
to SaaS/software-based service offerings (nearly 60% of total
revenue) with relatively high retention rates in the 85% range,
sizable recurring/reoccurring revenue (90+% of SaaS/Software sales)
and growing demand from small and medium-sized businesses (SMBs).
Low operating expenses combined with modest working capital and
capital expenditure requirements result in positive free cash flow.
Moody's expects a very good liquidity profile.

Rating Outlook

The stable rating outlook reflects Moody's expectation that over
the next 12-18 months Internet Brands will maintain its position as
a leading online media company with steady growth driven by its
cloud-based subscription/licensing businesses.  The stable outlook
also anticipates that Internet Brands will maintain high
recurring/reoccurring revenue, a low-cost traffic acquisition
model, relatively stable operating margins and steady cash flow
growth.

What Could Change the Rating -- Up

An upgrade is unlikely over the rating horizon given Moody's
expectation for a highly levered capital structure consistent with
the B2 rating category.  However, over the long-term, ratings could
be upgraded if Internet Brands were to increase scale, maintain its
leading market position, demonstrate organic revenue/earnings
growth and continue to successfully integrate acquisitions.  An
upgrade would also be considered if the company were to further
enhance end market diversification and sustain financial leverage
below 5x total debt to EBITDA (Moody's adjusted).  Internet Brands
would need to maintain a good liquidity position at a minimum to be
considered for an upgrade.

What Could Change the Rating -- Down

Ratings may be downgraded if Internet Brands' competitive position
weakens (as measured by market share), recurring/reoccurring and
performance--based ad revenue decline from current levels,
acquisitions exhibit underperformance or marketing and development
costs increase (as measured by operating margin performance).
Ratings could also experience downward pressure if the company: (i)
engages in debt-funded acquisitions or shareholder distributions
resulting in total debt to EBITDA (including LTM EBITDA of acquired
companies) sustained above 7x (Moody's adjusted); or (ii)
experienced sustained negative free cash flow and/or weakened
liquidity.

The principal methodology used in these ratings was Business and
Consumer Service Industry published in December 2014.

Internet Brands, Inc. is an internet media company that owns more
than 250 branded websites across four verticals (Automotive - 46%
of revenue; Legal - 24%; Health - 23%; and Home and Travel - 7%)
characterized by high consumer activity and solid advertising
spend.  The company licenses and delivers its content and internet
technology products and services to small and medium-sized
businesses (SMBs), major corporations and individual website owners
primarily via two revenue models: (i) a subscription-based
Software-as-a-Service (SaaS) platform; and (ii) performance-based
advertising.  Revenue totaled approximately $330 million for the
twelve months ended March 31, 2016.



INVERRARY RESORT HOTEL: UST Seeks Trustee or Dismissal
------------------------------------------------------
Guy G. Gebhardt, Acting United States Trustee for Region 21, on
June 21, 2016, filed a motion to asking the U.S. Bankruptcy Court
for the Southern District of Florida to enter an order (i)
directing the appointment of a Chapter 11 trustee in the case of
The Inverrary Resort Hotel Condominium Association, Inc., or,
alternatively, (ii) dismissing the case or converting the case to
Chapter 7.

The Debtor owns a "resort hotel" located at 3501 Inverrary
Boulevard, Lauderhill, Florida.  The property is owned by the
Debtor.  The Debtor's hotel is operated by a management company
called Vacation Resorts Development, Inc.

According to the U.S. Trustee, the facts here show that the Debtor
has exhibited, at a minimum, gross mismanagement of its financial
affairs where the Debtor's failure to provide to the United States
Trustee proof of insurance and proof of opening a DIP account
evinces the Debtor's failure to satisfy two of the most basic
requirements for a chapter 11 debtor-in-possession -- (1) to
maintain adequate insurance; and (2) to open a DIP bank account.

"Indeed, as the owner of South Florida real estate, the Debtor's
failure to ensure that it has adequate property insurance during
hurricane season could be viewed as reckless," the U.S. Trustee
said.

"Additionally, the Debtor's delay in opening a DIP account
suggests, at a minimum, a lack of competence on the part of
management when the nature of the Debtor's business could result in
the Debtor's bank account balances exceeding the amounts insured by
the FDIC—the raison d'e-tre for DIP accounts.

According to the U.S. Trustee, an analysis of multiple In re
SunCruz Casinos, LLC, 298 B.R. 821, 828 (Bankr. S.D.Fla. 2003)
factors supports the appointment of a chapter 11 trustee where:

   a. Management of the Debtor may have engaged in significant
misconduct and showed lack of evenhandedness where the Debtor made
sizeable transfers to possibly related parties prepetition while
failing to pay other creditors;

   b. There could be pre-petition voidable preferences or
fraudulent transfers that were made to possible affiliates of the
Debtor, and therefore one or more of those entities could be the
target of fraudulent conveyance and/or preference actions; and

   c. Current management may be unwilling and/or unable to pursue
estate causes of action, and/or conflicts of interest may interfere
with current management's ability to exercise fiduciary duties to
the Debtor and pursue such actions vigorously, where the targets of
such actions may be related entities and/or individuals.

   d. There is the potential for self-dealing by current management
where it appears from the limited information provided that the
business practice of management has been to reimburse related
entities for expenses that have paid on behalf of the Debtor,
rather than to have the Debtor pay those expenses directly.

Guy G. Gebhardt, Acting United States Trustee for Region 21, is
represented by:

         Zana M. Scarlett, Trial Attorney
         U.S. Trustee's Office
         51 SW 1st Ave., Room 1204
         Miami, FL 33130
         Tel: (305) 536-7285
         Fax: (305) 536-7360

                 About the Inverrary Association

The Inverrary Resort Hotel Condominium Association, Inc., Nirvana
Inverrary Lofts, Inc., and Alrames S.A.de C.V. Corp. filed
voluntary chapter 11 petitions (Bankr. S.D. Fla. Case Nos.
16-17792, 16-17799 and 16-17802) on May 31, 2016.  The three
Debtors are represented in their jointly administered cases by
Jason Slatkin, Esq., at Slatkin & Reynolds, P.A., in Ft.
Lauderdale.  At the time of the filings each single asset real
estate Debtor estimated its assets at less than $50,000 and its
debts at more than $1 million.  

The 11 U.S.C. Sec. 341 Meeting of Creditors is scheduled for June
27, 2016.


INVERRARY RESORT: Taps Edward F. Holodak as Special Counsel
-----------------------------------------------------------
The Inverrary Resort Hotel Condominium Association, Inc., asks for
permission from the U.S. Bankruptcy Court for the Southern District
of Florida to employ Edward F. Holodak, Esq., and the law firm of
Edward F. Holodak, P.A., special counsel, nunc pro tunc to the date
of the filing of the petition.

The Holodak Firm represented Debtor with respect to the termination
plan for the Debtor, and those matters attendant to the possible
sale of Debtor's assets.  The Debtor seeks approval of the
employment of the Holodak Firm so that it may continue to assist
Debtor with matters on which it assisted Debtor prepetition.

As a condition of its employment, the Holodak Firm has waived the
outstanding balance owed the firm as of the Petition Date of
$77,085.36.

To the best of Debtor's knowledge, the Holodak Firm does not have
any connection with the creditors, or other parties in interest, or
their respective attorneys and doesn't represent any interest
adverse to Debtor.

The Holodak Firm can be reached at:

     Edward F. Holodak, P.A.
     Edward F. Holodak, Esq.
     7951 SW 6th Street, Suite 210
     Plantation, FL 33324
     Tel: (954) 927-3436
     E-mail: info@browardbusinesslawyers.com
     Website: http://www.browardbusinesslawyers.com/

The Inverrary Resort Hotel Condominium Association, Inc., Nirvana
Inverrary Lofts, Inc., and Alrames S.A.de C.V. Corp. filed
voluntary chapter 11 petitions (Bankr. S.D. Fla. Case Nos.
16-17792, 16-17799 and 16-17802) on May 31, 2016.  The three
Debtors are represented in their jointly administered cases by
Jason Slatkin, Esq., at Slatkin & Reynolds, P.A., in Ft.
Lauderdale.  At the time of the filings each single asset real
estate Debtor estimated its assets at less than $50,000 and its
debts at more than $1 million.


J G SOLIS: Seeks to Hire Jesse Blanco as Legal Counsel
------------------------------------------------------
J G Solis, Inc. seeks approval from the U.S. Bankruptcy Court for
the Western District of Texas to hire Jesse Blanco as its legal
counsel.

Mr. Blanco will provide legal services to the Debtor in connection
with its Chapter 11 case.  These services include:

     (a) examining the claims of creditors to determine their
         validity;

     (b) giving advice in connection with the use of cash
         collateral, sale or lease of property of the Debtor's
         estate, obtaining credit, and other bankruptcy-related
         matters;

     (c) drafting a Chapter 11 plan and negotiating with secured
         and unsecured creditors for the plan; and

     (d) objecting to claims, if appropriate.

Mr. Blanco will receive $400 per hour for his services.

In a court filing, Mr. Blanco disclosed that he does not represent
any interest adverse to the Debtor or its bankruptcy estate.

Mr. Blanco's contact information is:

     Jesse Blanco
     7406 Garden Grove
     San Antonio, Texas 78250
     713.320.3732 Telephone
     210.509.6903 Facsimile
     lawyerjblanco@gmail.com

                        About J G Solis

J G Solis, Inc., filed a chapter 11 petition (Bankr. W.D. Tex. Case
No. 16-70080) on May 17, 2016, and is represented by Jesse Blanco
Jr., Esq., in San Antonio, Tex.  This chapter 11 proceeding is
related to (but not jointly administered with) In re all City Well
Service, LP (Bankr. W.D. Tex. Case No. 16-70079) also filed on May
17, 2016.


JEFFREY MORTENSON: Court Approves Sale of Personal Property
-----------------------------------------------------------
Judge Paul B. Snyder of the U.S. Bankruptcy Court for the Western
District of Washington, Tacoma Division, on June 17, 2016, approved
Jeffrey Allan Mortenson and Dawn Marie Mortenson's motion to sell
their personal property.

The Debtors' sale of their personal property is approved as
follows:

     Buyer                Property to be Sold     Purchase Price
     -----                -------------------     --------------
Michael Carr         1968 Pontiac Firebird             $7,000
Michael Carr         2004 425 Honda Quad                 $100
Michael Carr         1965 Chevy Chevelle                 $500
Michael Carr         2006 Harley Davidson Dyna Glide   $6,000
Vincent Flores       2001 Kabota U35 Excavator        $14,500
Vincent Flores       1977 Ford F-150 Truck             $1,200
Vincent Flores       1957 Johnson Boat and Trailer       $900
Vincent Flores       1967 Chevy Chevelle Box Frame     $9,000
Vincent Flores       1988 Harley Sportster             $1,500

"It is further ORDERED, ADJUDGED AND DECREED that the money will be
held by Debtors' counsel. Upon confirmation of the Plan, the monies
shall then be paid over to the Plan Administrator," Judge Snyder
ruled.

The Debtors are represented by:

          Noel P. Shillito, WSBA
          1919 North Pearl St. #C-2
          Tacoma, WA 98406
          Telephone: (253) 572-4388
          Facsimile: (253) 572-4497

The bankruptcy case is In Re Jeffrey Allan Mortenson and Dawn Marie
Mortenson (Bankr. W.D. Wash. Case No. 15-40137).


JESUS RAFAEL CRUZ RODRIGUEZ: July 29 Plan Confirmation Hearing
--------------------------------------------------------------
Judge Scott H. Gan of the U.S. Bankruptcy Court for the District of
Arizona approved the first amended disclosure statement explaining
the plan filed by Jesus Rafael Cruz Rodriguez and Beatriz Quivoy
Cruz.

The hearing to consider confirmation of the plan will be held on
July 19, 2016, at 1:30 p.m.  Ballots accepting or rejecting the
plan must be received by July 12.  The last day for filing written
objections to confirmation of the plan is fixed at July 12.

If the debtor is an individual, the hearing date is the last date
to file a complaint objecting to the discharge of the Debtors
pursuant to Sections 1141 and 727 of the Bankruptcy Code.  If an
objection to confirmation is filed, the Court may utilize the
initial hearing to determine the appropriate discovery procedures.
If no objection to confirmation is filed, the Court may still
request that evidence be presented or that counsel present an offer
of proof in support of confirmation of the plan of reorganization.

Jesus Rafael Cruz Rodriguez and Beatriz Quivoy Cruz (Bankr. D.
Ariz. Case No. 15-15071) filed a Chapter 11 Petition on November
25, 2015.

The Debtors are represented by:

          Preston Gardner, Esq.
          DAVIS MILES MCGUIRE GARDNER, PLLC
          40 E. Rio Salado Parkway, Suite 425
          Tempe, AZ 85281
          Tel: (877) 715-7366
          Email: jstoner@davismiles.com


JOHN DAVIS TRUCKING: Trustee Selling Ford F650 for $30K
-------------------------------------------------------
Stephen R. Harris, Esq., of Harris Law Practice LLC, Liquidating
Trustee of the John Davis Trucking Co. Inc. Liquidating Trust, asks
the U.S. Bankruptcy Court for the District of Nevada for the entry
of an order authorizing the sale of 2007 Ford F650 Service Truck,
VIN 3FRNF65X57V456920, to Quality Transportation, Inc. for
$30,000.

Quality Transportation, Inc. was formed in 2015, and its offices
are brothers, John Davis and Shane Davis.  The brothers are also
officers of the Debtor.  The truck is currently located on land
owned by SDJD Properties, LLC, another entity owned by the
brothers.

In the past, Ritchie Bros. has sold similar service trucks for
amounts ranging from $8,500 to $33,000, which would be subject to
sales commissions, transportation costs, and disassembly costs.
Ritchie Bros. would charge a 9.5% commission to sell the Truck at
auction, and the Estate would assume all transportation costs and
reasonable repairs.  Quality Transportation, Inc. had estimated
that if Ritchie Bros. were to sell the Truck for its estimated
value of $33,500, the actual net value to the estate would be
approximately $28,000, after subtracting commissions and
transportation/repair fees. The offer submitted by the proposed
Buyer is approximately 90% of the value of the Truck to the Trust.

A copy of the purchase proposal and the recent sales by Ritchie
Bros. attached to the Motion is available for free at

    http://bankrupt.com/misc/John_Davis_361_Sale_M.pdf

The offer to purchase the Truck is all cash, "as is" and "where
is", and the trust will not incur any costs of sale, any
transportation costs, repair costs, or any costs related to
disassembling the Truck for transport.

The Liquidating Trustee believes the offer is fair and reasonable,
in that it will likely realize net proceeds for the Trust more than
the maximum proceeds that could be obtained at an auction.

Any Court hearing on this request will allow for overbidding by
qualified buyers, provided however, that any overbid must provide
net sales proceeds greater than the amount offered by Quality
Transportation in an overbid amount to be determined by the Court.

                     About John Davis Trucking

John Davis Trucking Company, Inc., sought Chapter 11 protection
(Bankr. D. Nev. Case No. 14-51643) in Reno, Nevada, on Sept. 29,
2014.  The case judge is Bruce T. Beesley

The Debtor tapped Hartman & Hartman as counsel.

The Debtor disclosed $5.71 million in assets and $5.64 million in
liabilities.

                           *     *     *

On March 4, 2016, the Court entered an order confirming the
Official Committee of Unsecured Creditors' Second Amended Proposed
Plan of Orderly Liquidation, as Amended.  The assets of the Debtor
were vested to the John Davis Trucking Company, Inc., Liquidating
Trust.  On April 4, 2016, a notice of liquidating trust agreement
was filed with the Court and Stephen R. Harris, Esq., was duly
appointed Liquidating Trustee.

The Liquidating Trustee can be reached at:

         Stephen R. Harris, Esq.
         HARRIS LAW PRACTICE, LLC
         6151 Lakeside Drive, Suite 2100
         Reno, NV 89511
         Tel: (775) 786-7600
         E-mail: steve@harrislawreno.com


JOHN DISANTO: July 12 Plan Confirmation Hearing
-----------------------------------------------
Judge Peter G. Cary of the U.S. Bankruptcy Court for the District
of Maine approved the disclosure statement explaining John J.
DiSanto's Chapter 11 plan and scheduled a hearing on confirmation
of the Plan for July 12, 2016, at 9:00 a.m.

The deadline for filing and serving written objections to
confirmation of the Plan will be July 5.  To be counted, ballots
for accepting or rejecting the Plan must be received no later than
July 5.

The bankruptcy case is In re John J. DiSanto, Case No. 15-20434
(Bankr. D. Maine).

The Debtor is represented by:

          Andrew R. Sarapas, Esq.
          MOLLEUR LAW OFFICE
          95 Main Street
          Auburn, ME 04210
          Email: andy@molleurlaw.com


JOSEPH SATIRA: July 21 Disclosure Statement Hearing
---------------------------------------------------
Judge Thomas P. Agresti of the U.S. Bankruptcy Court for the
Western District of Pennsylvania commenced a hearing on June 21,
2016, to consider approval of the disclosure statement explaining
Joseph Satira's plan of reorganization.

As previously reported by the Troubled Company Reporter, the Debtor
filed an amended plan of reorganization and an explanatory
disclosure statement under which general unsecured creditors will
be paid $5,126 or 100% of their claims over a 60 month period.

Joseph Satira (Bankr. W.D. Penn. Case No. 15-24221) filed a Chapter
11 Petition on November 18, 2015.  The Debtor is the owner of two
commercial properties in Munhall, Pennsylvania. The Debtor rents
space in these properties to tenants and also uses part of the
space for his own barber shop business at which he works.

A full-text copy of the Disclosure Statement dated June 6, 2016, is
available at http://bankrupt.com/misc/pawb15-24221-69.pdf

The Debtor is represented by:

          Christopher M. Frye, Esq.
          LAW OFFICES OF STEIDL AND STEINBERG
          Gulf Tower, Suite 2830
          707 Grant Street
          Pittsburgh, PA 15219
          Tel: 412-391-8000
          Email: chris.frye@steidl-steinberg.com


KAARS INCORPORATION: Case Summary & 8 Unsecured Creditors
---------------------------------------------------------
Debtor: Kaars Incorporation
           aka Quality Auto
        2-70 Parker Avenue
        Trenton, NJ 08609

Case No.: 16-22015

Chapter 11 Petition Date: June 21, 2016

Court: United States Bankruptcy Court
       District of New Jersey (Trenton)

Judge: Hon. Kathryn C. Ferguson

Debtor's Counsel: Scott Eric Kaplan, Esq.
                  SCOTT E. KAPLAN, LLC
                  12 North Main St., PO Box 157
                  Allentown, NJ 08501
                  Tel: 609-259-1112
                  Fax: 609-259-5600
                  E-mail: scott@sekaplanlaw.com

Total Assets: $72,300

Total Liabilities: $1.93 million

The petition was signed by Isam Abuhumoud, vice president.

A list of the Debtor's eight largest unsecured creditors is
available for free at http://bankrupt.com/misc/njb16-22015.pdf


KIRKLAND BROS: Plan Outline OK'd, July 12 Confirmation Hearing Set
------------------------------------------------------------------
Judge Ronald B. King of the U.S. Bankruptcy Court for the Western
District of Texas, Midland Division, approved the first amended
disclosure statement explaining Kirkland Bros., Inc.'s first
amended plan of reorganization.

The Plan proposes to pay general unsecured creditors 100% of their
claims over a eight-year term to be paid on a monthly basis,
beginning July 15, 2016, at 3.0% interest.  The Plan calls for 84
monthly payments each of $2,215.67.

Confirmation Hearing is scheduled for July 12, 2016, at 1:45 p.m.
in the U.S. Bankruptcy Courtroom, Midland Room P126, U.S.
Courthouse, 100 E Wall Street, Midland, Texas.

The Deadline to Object to Confirmation of Plan is July 6, 2016.

The Debtor is represented by:

          Max R. Tarbox, Esq.
          TARBOX LAW, P.C.
          2301 Broadway
          Lubbock, TX 79401
          Tel: (806) 686-4448
          Fax: (806) 368-9785

Kirkland Bros., Inc. (Bankr. W.D. Tex., Case No. 15-70099) filed a
Chapter 11 Petition on July 15, 2015, with assets estimated at $1
million to $10 million and liabilities at $1 million to $10
million.  The Debtor's primary business is in the leasing and
selling of trucks and trailers.


KLAMON LLC: Taps Nathan Sommers as Legal Counsel
------------------------------------------------
Klamon LLC seeks approval from the U.S. Bankruptcy Court for the
Southern District of Texas to hire Nathan Sommers Jacobs, A
Professional Corporation, as its legal counsel.

The Debtor tapped the firm to:

     (a) provide legal advice about its powers and duties as a
         debtor-in-possession in the continued operation of its
         properties;

     (b) examine claims of creditors in order to determine their
         validity and object to claims if appropriate;

     (c) prepare and pursue confirmation of a Chapter 11 plan and
         approval of a disclosure statement;

     (d) prepare legal papers;

     (e) appear in court;

     (f) give advice to Debtor in connection with its plan of
         reorganization;

     (g) appear in, and prosecute or defend suits when they arise.

Ronald Sommers, a shareholder of Nathan Sommers, and Jarrod Martin,
an associate, will be primarily responsible for representing the
Debtor.  The customary hourly rates of Messrs. Sommers and Martin
are $525 and $315, respectively.

Mr. Sommers disclosed in a court filing that he and the firm do not
hold or represent any interest adverse to the Debtor's estate.

The firm can be reached through:

     Ronald J. Sommers, Esq.
     Nathan Sommers Jacobs,
     A Professional Corporation
     2800 Post Oak Blvd., 61st Floor
     Houston, TX 77056
     Tel: 713.892.4801
     Fax: 713.892.4800
     E-mail: rsommers@nathansommers.com

                        About Klamon LLC

Klamon LLC sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. S.D. Texas Case No. 16-32904) on June 6, 2016.  The
petition was signed by James Hunter Clamon, manager.  

The case is assigned to Judge Jeff Bohm.

At the time of the filing, the Debtor disclosed $1.71 million in
assets and $3.35 million in debts.


KLM OPTICAL: Unsecureds to Get at Least 45% Under Ch. 11 Plan
-------------------------------------------------------------
KLM Optical, Inc., dba Pearle Vision, filed with the U.S.
Bankruptcy Court for the Eastern District of New York a second
amended plan of reorganization and accompanying disclosure
statement offering general unsecured creditors the opportunity to
obtain a distribution of no less than 45.67% of their allowed
claims in monthly installments for a period of 84 months.

The Second Amended Plan will be funded from (i) cash on hand in the
amount of $122,000 to be placed in a confirmation account with
Debtor's counsel, (ii) the proceeds of the Debtor's settlement,
which is currently in the Debtor's counsel's possession, of an
avoidance action with AMEX in the amount of $64,812, which are also
to be placed into a confirmation account with Debtor's counsel, and
(iii) the postpetition operations of the Reorganized Debtor.

A full-text copy of the Second Amended Disclosure Statement dated
June 8, 2016, is available at
http://bankrupt.com/misc/nyeb15-72145-101.pdf

KLM Optical, Inc., dba Pearle Vision (Bankr. E.D.N.Y., Case No.
15-72145) filed a Chapter 11 Petition on May 15, 2015.  The Debtor
is a New York corporation conducting business in the field of
optometry and retail optical sales.  The case is assigned to Judge
Robert E. Grossman.

The Debtor's counsel is J. Logan Rappaport, Esq., at Pryor &
Mandelup, L.L.P., in Westbury, New York. The Debtor hired Robert A.
Klein, CPA, P.C., as accountant.  The petition was signed by Wayne
Kelly, president.

The Debtor had $319,046 in assets and $1.83 million in
liabilities.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nyeb15-72145.pdf


KOBE RESTAURANT: Seeks to Hire Robert Bruner as Attorney
--------------------------------------------------------
Kobe Restaurant Group LLC seeks approval from the U.S. Bankruptcy
Court for the Northern District of Florida to hire Robert Bruner as
its attorney.

Kobe Restaurant proposes to hire an attorney to give legal
assistance in connection with its Chapter 11 case.  

Mr. Bruner will be paid $300 per hour for his services and will
receive reimbursement for work-relates expenses.

In a court filing, Mr. Bruner disclosed that he does not represent
any entity in connection with the case and that he does not have
any connection with Kobe Restaurant's creditors.
   
Mr. Bruner's contact information is:

     Robert C. Bruner
     2810 Remington Green Circle
     Tallahassee, FL 32308
     Tel: (850) 385-0342

                        About Kobe Restaurant

Kobe Restaurant Group LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Fla. Case No. 16-50103) on April 4,
2016, listing under $1 million in both assets and liabilities.  The
Debtor is represented by Robert C. Bruner, Esq.

The Office of the U.S. Trustee disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
case.


L. P. & F. INC: Taps Sader Law Firm as Legal Counsel
----------------------------------------------------
L. P. & F., Inc. seeks approval from the U.S. Bankruptcy Court for
the Western District of Missouri to hire The Sader Law Firm as its
legal counsel.

L. P. & F. tapped the firm to:

     (a) give advice about its rights and obligations as debtor-
         in-possession;

     (b) prepare legal papers;

     (c) represent the Debtor at the meeting of creditors and
         court hearings on approval of plan of reorganization and
         disclosure statement;

     (d) represent the Debtor in adversary proceedings and other
         contested bankruptcy matters; and,

     (e) represent the Debtor in matters related to its
         reorganization and business operations.

Neil Sader and Bradley McCormack, the attorneys who will assist the
Debtor during its bankruptcy, will be paid $330 per hour and $305
per hour, respectively.  The hourly rate of paralegals who may
assist them is $105.

Aside from professional fees, the firm will also receive
reimbursement for work-related expenses.

In a court filing, Messrs. Sader and McCormack disclosed that the
firm is "disinterested" as defined in section 101(14) of the
Bankruptcy Code.

The Sader Law Firm can be reached through:

     Bradley D. McCormack
     The Sader Law Firm
     2345 Grand Boulevard, Suite 2150
     Kansas City, MO 64108
     Tel: 816-561-1818
     Direct Dial: 816-595-1802
     Fax: 816-561-0818
     Email: bmccormack@saderlawfirm.com

                        About L. P. & F. Inc.

L. P. & F., Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W. D. Mo. Case No. 16-30293) on June 14,
2016.  The petition was signed by William Ryan Jackson, president.


The case is assigned to Judge Cynthia A. Norton.

At the time of the filing, the Debtor estimated its assets at
$50,000 to $100,000 and debts at $1 million to $10 million.


LAND SECURITIES: Court Approves Sale of Colorado Property
---------------------------------------------------------
Judge Michael E. Romero entered an order approving the sale of Land
Securities Investors, Ltd's real property located in Larimer
County, State of Colorado.  The Debtor sought approval of the sale
to assist in the implementation of its confirmed Plan of
Reorganization.   All tax liens will be satisfied at closing as set
forth in Plan.

The limited objection filed by 3NP, LLC as to the sale have been
resolved.  According to the Order, the Debtor is required to escrow
85% of the net proceeds of sale to be held in the trust account of
Kutner Brinen, P.C. pending adjudication of the issues raised in
the objection by 3NP, LLC.  The funds may not be distributed
without further order of the Court.

As reported in the TCR, the Debtors Land Securities Investors,
Ltd., et al., on June 9, 2016, filed a motion asking the Court to
approve the sale of an unimproved 13.5-acre parcel of real property
known as Project Area 13 of the Roxborough Downs Filing No. 2
located in Jefferson County, Colorado to Cool Water Land & Cattle
Investments, LLC.  LSI is selling its properties in order to assist
in the implementation of its confirmed Fourth Amended Plan of
Reorganization.

The Debtor's attorney:

         Lee M. Kutner, Esq.
         KUTNER MILLER BRINEN, P.C.
         1660 Lincoln St., Suite 1850
         Denver, CO 80264
         Tel: (303) 832-2400
         Fax: (303) 832-1510
         E-mail: lmk@kutnerlaw.com

The Buyer can be reached at:

         COOL WATER LAND & CATTLE INVESTMENTS, LLC
         2830 S. Newcombe Way
         Lakewood, Colorado 80227
         Attn: Jack Hoagland
         Phone: (303) 888-1920
         E-mail: jack@coolwaterland.com

The Buyer's attorney:

         SCHELWAT LAW, LLC
         16350 E. Arapahoe Road, Suite 108-102
         Foxfield, Colorado 80016
         Phone: (720) 252-6764
         E-mail: kschelwat@schelwatlaw.com

                     About Land Securities

Land Securities Investors, Ltd., LSI Retail II, LLC, and Conifer
Town Center, LLC, sought Chapter 11 protection (Bankr. D. Colo.
Case Nos. 13-11167, 13-1113, and 13-11135) in Denver on Jan. 29,
2013.  Land Securities disclosed $47.0 million in total assets
and $29.6 million in total liabilities.

The Debtors are real estate developers and investors.

The Office of the U.S. Trustee for Region 19 said that it was
unable to appoint an official committee of unsecured creditors.

Lee M. Kutner, Esq., of Kutner Miller Brinen, P.C., in Denver,
Colorado, acts as legal counsel to Land Securities Investors, Ltd.
Jeffrey A. Weinman, Esq., of Weinman & Associates, P.C., in
Denver, Colorado, acts as legal counsel to LSI Retail II, LLC and
Conifer Town Center, LLC.



LAREDO WO: Hires Ray Battaglia as Co-Counsel
--------------------------------------------
Laredo WO, LTD., seeks permission from the U.S. Bankruptcy Court
for the Western District of Texas to employ the Law Offices of Ray
Battaglia, PLLC, as bankruptcy co-counsel, effective as of the
Petition Date.

The Firm is being retained to serve as co-counsel along with Eric
Terry Law, PLLC.  The two law firms have agreed to a division of
labor substantially similar to the manner which multiple attorneys
within the same law firm would handle a similar case.  Each firm is
aware of the need to avoid duplication of effort and have taken
steps to minimize the degree to which their services will overlap.
Eric Terry Law will be primarily responsible for the day to day
management of the case and all routine activities typical to
Chapter 11 cases.  The Firm will provide legal advice regarding
strategy for the Chapter 11 case and implementation of that
strategy.  The firms will allocate primary responsibility as
appropriate for drafting pleadings and handling contested matters
and meetings with clients and opposing counsel.

The Firm along with Eric Terry Law, will render, among other
things, these services to the Debtor:

     a. advise the Debtor with respect to its powers and duties as

        debtor and debtor in possession in the continue management

        and operation of its business and properties;

     b. attend meetings and negotiate with representatives of
        creditors and other parties in interest, and advise and
        consult on the conduct of the case, including all of the
        legal and administrative requirements of operating in
        Chapter 11;

     c. take all necessary actions to protect and preserve the
        Debtor's estate, including the prosecution of actions on
        its behalf, the defense of any actions commenced against
        its estate, negotiations concerning litigation in which
        the Debtor may be involved, and objections to claims filed
       
        against the estate;

     d. prepare on behalf of the Debtor all motions, applications,

        answers, orders, reports, and papers necessary to the
        administration of the estate;

     e. advise the Debtor in connection with any sales of assets;

     f. negotiate and prepare on the Debtor's behalf a plan of
        reorganization, disclosure statement, and all related
        agreements and documents, and take any necessary action on

        behalf of the Debtor to obtain confirmation of the  plan;

     g. appear before this Court, any appellate courts, and the
        U.S. Trustee, and protect the interests of the Debtor's
        estate before the courts and the U.S. Trustee; and

     h. perform all other necessary legal services and provide all

        other necessary or appropriate legal advice to the Debtor
        in connection with this Chapter 11 case.

Raymond W. Battaglia, Esq., will be paid $425 per hour for his
services.

In connection with entry into the engagement of the Firm, the
Debtor agreed that a retainer would be applied to the Firm’s
professional fees, charges, and disbursements.  The initial
Retainer amount was $50,000.  As of the Petition Date, the balance
of the Retainer remained $50,000.  The Retainer will remain in the
Firm's IOLTA trust account as a post-petition retainer to be
applied against post-petition fees and expenses after application
to and approval by the Court.  The Debtor paid the Firm $807 prior
to filing its voluntary petition.

Raymond W. Battaglia, Esq., President and Managing Member of the
Firm, tells the Court that the Firm has not agreed to share any
compensation received with any other entity.  Mr. Battaglia assures
the Court that the Firm (i) does not hold or represent an interest
adverse to the Debtors, and its estate, (ii) does not hold or
represent any other party in this Case, and (iii) is "disinterested
persons" as that term is defined in Section 101(14) of the
Bankruptcy Code.

Mr. Battaglia says that the Firm is a "disinterested person" as
that term is defined in Section 101(14) of the Bankruptcy Code in
that the Firm and its attorneys:

     a. are not creditors, equity security holders, or insiders of

        the Debtors;

     b. are not and were not, within two years before the date of
        the filing of the Debtors' Chapter 11 petition, a
        director, officer, or employee of the Debtors; and

     c. do not have an interest materially adverse to the interest

        of the estate or of any class of creditors or equity
        security holders, by reason of any direct or indirect
        relationship to, connection with, or interest in, the
        Debtor.

The terms of the Firm's engagement with the Debtor to represent it
in connection with this Chapter 11 case do not vary from the Firm's
customary billing arrangements for similar engagements.

The Firm's rates do not vary based upon the geographic location of
the bankruptcy case.  The Firm's representation of the Debtor
commenced approximately one month prior to the Petition Date.  The
financial terms and hourly rates of the Firm have not changed
post-petition.

The Firm can be reached at:

        Raymond W. Battaglia, Esq.
        Law Offices of Ray Battaglia, PLLC
        66 Granburg Circle,
        San Antonio, Texas 78218,
        Tel: (210) 601-9405
        E-mail rbattaglialaw@outlook.com

Headquartered in San Antonio, Texas, Laredo WO, LTD., a Texas
limited partnership, owns a fully entitled, 1056 acre real estate
development with approximately 2400 residential lots located in
Georgetown, Texas.  

The Debtor filed for Chapter 11 bankruptcy protection (Bankr. W.D.
Tex. Case No. 16-51297) on June 6, 2016, listing $69.59 million in
total assets and $36.50 million in total debts.  The petition was
signed by Bradford A. Galo, CEO of Galo, Inc. (managing GP of ABG
Enterprises, Ltd.)  Judge Ronald B. King presides over the case.
Eric Terry, Esq., at Eric Terry Law, PLLC, serves as the Debtor's
bankruptcy counsel.


LAREDO WO: Seeks to Hire Eric Terry Law as Co-Counsel
-----------------------------------------------------
Laredo WO, Ltd. seeks approval from the U.S. Bankruptcy Court for
the Western District of Texas to hire Eric Terry Law, PLLC.

Eric Terry Law will serve as co-counsel with The Law Offices of Ray
Battaglia PLLC, another firm to be hired by Laredo in connection
with its Chapter 11 case.

The services to be provided by the firm include:

     (a) advising Laredo about its powers and duties as a debtor-
         in-possession;

     (b) pursuing relief associated with maximizing the value of
         the assets of the Debtor's estate, whether via a sale of
         all assets or through confirmation of a plan;

     (c) preparing legal papers and appearing in court.

Eric Terry, Esq., has agreed to lower his standard hourly rate of
$425 to $375.

In a court filing, Mr. Terry disclosed in a court filing that the
firm is a "disinterested person" as defined in section 101(14) of
the Bankruptcy Code.

The firm can be reached through:

     Eric Terry
     Eric Terry Law, PLLC
     4040 Broadway, Ste. 450
     San Antonio, TX 78209
     Telephone: (210) 468-8274
     Facsimile: (210)-319-5447

                        About Laredo WO

Laredo WO, Ltd. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Texas Case No. 16-51297) on June 6,
2016.  The petition was signed by Bradford A. Galo, CEO of Galo,
Inc. (managing GP of ABG Enterprises, Ltd.).  The case is assigned
to Judge Ronald B. King.  At the time of the filing, the Debtor
disclosed $69.59 million in assets and $36.5 million in debts.


LAWRENCE SCHIFF: Court OKs CSS-Led Auction on June 29
-----------------------------------------------------
Judge Jean K. Fitzsimon on June 15, 2016, entered an order granting
William G. Schwab, the Chapter 11 trustee for the estate of
Lawrence Schiff Silk Mills, Inc., approval (i) of the stalking
horse asset purchase agreement with buyer CSS Industries, Inc., and
(ii) bid procedures in connection with the proposed sale of the
Debtor's assets.

Judge Fitzsimon approved the Bidding Procedures, as modified.  

CSS has offered to acquire certain of the Debtor's designated
assets for the price of $900,000, of which will be paid at the
closing.  

The Trustee believes it is imperative that it provide an additional
opportunity for any interested purchasers to submit further offers
for the acquired assets.  

At the behest of the Trustee, the Court ordered that:

   (a) On June 17, 2016, the Trustee will file with the Court and
serve a copy of the Assumption and Assignment Notice, including the
proposed cure amounts.  Each Contract Party will, on or before 4:00
p.m. (prevailing Eastern Time) on June 29, 2016, file and serve any
objection to the assumption and assignment of the Assumed and
Assigned Agreement.

   (b) The deadline for submitting a qualified bid will be June 28,
2016, at 4:00 p.m. (prevailing Eastern Time).

   (c) Not later than June 28, 2016, at 7:00 p.m. (prevailing
Eastern Time), the Trustee will notify all qualified bidders of the
relevant terms of the highest or otherwise best qualified bid,
which will provide the starting bid for the competitive sale
process.

   (d) To the extent at least one qualified bid, other than the
prospective purchaser's bid, is timely received, the Trustee will
conduct the competitive sale process, which will commence at 10:00
a.m. (prevailing Eastern Time) on June 29, 2016 by telephone.

   (e) The Court will conduct the sale hearing commencing on June
30, 2016, at 11:30 a.m. (prevailing Eastern Time), at Court Room 3,
U.S. Bankruptcy Court, Robert N.C. Nix, Sr. Federal Courthouse, 900
Market Street, Philadelphia, Pennsylvania.

Since the Petition Date, the Debtor has entertained expressions of
interests from multiple parties interested in purchasing the
Acquired Assets.  The Trustee has continued these discussions since
his appointment and has, subject to the Court's approval, selected
CSS Industries, Inc., or an affiliate to be designated by CSS, in
its sole discretion, as the prospective purchaser to acquire
certain of the Debtor's assets.

If the Trustee consummates the sale of the assets to an entity
other than CSS, the Trustee is authorized to pay to CSS the bid
protections in an aggregate amount of 3 percent of the purchase
price ($27,000) from the proceeds of the sale at the closing.

                 About Lawrence Schiff Silk Mills

Founded in 1918 and headquartered in Quakertown, PA, Lawrence
Schiff Silk Mills, Inc.'s primary business was the manufacturing
of ribbons, bows, ties, straps, webbing and over 500 additional
woven, fabricated materials for more than 1,000 customers
worldwide.  LSSM served the global industrial, apparel, military,
medical, packaging and hospitality markets.

On April 5, 2016, Pyramid Realty Group, LP, Aero Energy and Grant
Industries, Inc. filed an involuntary petition under Chapter 11 of
Title 11 of the United States Code pursuant to Sec. 303 of the
Bankruptcy Code against Lawrence Schiff Silk Mills (Bankr. E.D.
Pa. Case No. 16-12396).  Pyramid is owned by Richard J. Schiff,
who
holds a minority equity stake in Debtor, owns RJLS Enterprises,
Inc., and owns or owned the Debtor's predecessor entities.

On April 22, 2016, upon agreement between the Debtor and the
Petitioning Creditors, the Court entered a Consent Order for
Relief
in Involuntary Chapter 11 Case.  The Consent Order granted relief
to Debtor under Chapter 11 of the Bankruptcy Code as of the Relief
Date.

The Petitioning Creditors are represented by Jeffrey Kurtzman,
Esq., at Kurtzman Steady LLC.

William G. Schwab has been appointed the Chapter 11 Trustee for
the
Debtor's estate.


LITTLETON PREPARATORY: S&P Affirms 'BB+' Rating on Revenue Bonds
----------------------------------------------------------------
S&P Global Ratings revised its outlook to stable from negative and
affirmed its 'BB+' long-term rating on the Colorado Educational &
Cultural Facilities Authority's series 2013 charter school revenue
bonds issued for Littleton Preparatory Charter School (LPCS).  

"The outlook revision reflects updated and corrected information
with respect to the school's maximum annual debt service coverage
calculation, which is estimated to be 1.41x for fiscal 2015, which
is quite strong for the rating," said S&P Global Ratings credit
analyst Jessica Matsumori.  "The increased maximum annual debt
service somewhat mitigates our view of the risk regarding an
expected decrease in cash for fiscal 2016, due to improvements made
at the new facilities," Ms. Matsumori added.

LPCS was granted charter approval in 1997 and opened its doors in
time for the 1998-1999 school year, with 300 students in grades one
through six (1-6).  Since that time, it has grown to 615 students
for the 2015-2016 school year in kindergarten through eighth grade
(K-8).  LPCS also added a preschool program in fall 2013, with 40
students enrolled for the current school year.  It is one of two
charter schools in the Arapahoe County School District.  LPCS was
granted a five-year renewal in 2013, valid through 2018.


LOCATIONS IX: Taps Pasquale Menna as Legal Counsel
--------------------------------------------------
Locations IX Inc. seeks approval from the U.S. Bankruptcy Court for
the District of New Jersey to hire Pasquale Menna of The Menna Law
Firm as its attorney.

Mr. Menna will provide legal services to the Debtor in connection
with its Chapter 11 case.  He will be paid $250 per hour for his
services.

In a court filing, Mr. Menna disclosed that he is "disinterested"
as defined in section 101(14) of the Bankruptcy Code.

Mr. Menna's contact information is:

     Pasquale Menna, Esq.
     151 Bodman Place
     3rd Floor, Suite 300
     Red Bank, New Jersey 07701
     Tel: 732-383-8445
     Fax: 732-383-8274
     pmenna@mennalaw.com

                        About Locations IX

Locations IX Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. N.J. Case No. 16-18857) on May 5, 2016.
The petition was signed by Vincent Ludwig, president.  

The case is assigned to Judge Michael B. Kaplan.

At the time of the filing, the Debtor disclosed $3.28 million in
assets and $892,281 in debts.


LOCATIONS VII: Taps Pasquale Menna as Legal Counsel
---------------------------------------------------
Locations VII Inc. seeks approval from the U.S. Bankruptcy Court
for the District of New Jersey to hire Pasquale Menna of The Menna
Law Firm as its attorney.

Mr. Menna will provide legal services to the Debtor in connection
with its Chapter 11 case.  He will be paid $250 per hour for his
services.

In a court filing, Mr. Menna disclosed that he is "disinterested"
as defined in section 101(14) of the Bankruptcy Code.

Mr. Menna's contact information is:

     Pasquale Menna, Esq.
     151 Bodman Place
     3rd Floor, Suite 300
     Red Bank, New Jersey 07701
     Tel: 732-383-8445
     Fax: 732-383-8274
     pmenna@mennalaw.com

                        About Locations VII

Locations VII Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. N.J. Case No. 16-18855) on May 5, 2016.
The petition was signed by Vincent Ludwig, president.  

The case is assigned to Judge Michael B. Kaplan.

At the time of the filing, the Debtor disclosed $3.28 million in
assets and $892,281 in debts.


LOUISIANA-PACIFIC CORP: Egan-Jones Cuts FC Unsec. Rating to B+
--------------------------------------------------------------
Egan-Jones Ratings Company downgraded the foreign currency senior
unsecured rating on debt issued by Louisiana-Pacific Corp to B+
from BB- on June 6, 2016.

Louisiana-Pacific Corporation, commonly known as "LP", is a United
States building materials manufacturer. It was founded in 1973 and
is currently based in Nashville, Tennessee.



M SPACE: Files Schedules of Assets and Liabilities
--------------------------------------------------
M Space Holdings, LLC aka M Space filed with the U.S. Bankruptcy
Court for the District of Utah its schedules of assets liabilities,
disclosing:

     Name of Schedule        Assets             Liabilities
     ----------------        --------------     --------------
  A. Real Property           $ 3,635,208.47
  B. Personal Property       $62,383,100.43
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                             $63,982,252.43
  E. Creditors Holding
     Unsecured Priority
     Claims                                     $    36,645.58
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                     $ 4,817,339.49
                            --------------      --------------
        Total               $66,018,308.90      $68,836,237.50

A copy of the schedules is available for free at:

                        https://is.gd/YW5dI1

                       About M Space Holdings

M SPACE, a modular building company, utilizes modular construction
to provide custom and traditional, permanent and temporary, new and
used prefabricated buildings.  Projects range from small temporary
buildings to large multi-story complexes.  The firm serves various
industries such as education, healthcare, retail and hospitality,
government, laboratory/research, public assembly, lodging and
housing, general business and office, corrections and public safety
with portable buildings, permanent modular buildings and
manufactured homes.

M Space Holdings, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Utah Case No. 16-24384) on May 19, 2016.
The petition was signed by Jeffrey Deutschendorf, chief executive
officer and president.  The case is assigned to Judge Joel T.
Marker.  The Debtor estimated both assets and liabilities in the
range of $50 million to $100 million.  The Debtor's asset
liquidator is Gordon Brothers Commercial & Industrial, LLC.


MAPLE BANK: Claims Bar Date Slated for September 19
---------------------------------------------------
The Superior Court of Justice of Ontario directs creditors of Maple
Bank GmbH aka Maple Bank - Toronto Branch to file proofs of claim
against the bank by 4:00 p.m. (Eastern Standard Time) on Sept. 19,
2016.

All claims must be submitted to KPMG Inc., in its capacity as
court-appointed liquidator of Maple Bank, for any claims against:

     (a) Maple Bank, whether liquidated, unliquidated, contingent
or otherwise, in each case where the claim (i) arose on or prior to
Feb. 16, 2016, or (ii) arose after the winding-up date as result of
the termination, repudiation or disclaimer of any lease, contract,
employment agreement, or other agreement, and

     (b) the principals of Maple Bank for which the principals are
by law to pay in such capacity.

The liquidator can be reached at:

   KPMG Inc.
   Bay Adelaide Centre
   333 Bay Street, Suite 4600
   Toronto, ON M5H 2S5
   Attention: Sven Dedic
   Tel: (416) 777-3364
   Fax: (416) 777-3091
   Email: sdedic@kpmg.ca




MARINUS VAN PEENEN: New Jersey Property Sold for $580,000
---------------------------------------------------------
In the Chapter 11 case of Marinus Van Peenen, Judge Rosemary
Gambardella on June 14, 2016, entered an order authorizing the sale
of the right, title, and interest of the Debtor and his non-debtor
co-owner Joan Van Peenen in real property located at 45 Sylvan
Terrace, Wayne, New Jersey, to Azzam Ismaeel and Litsa Ayoub for
the sum of $580,000.

The Debtor's special real estate counsel and/or the disbursing
agent handling the closing is authorized to pay $975 in legal fees,
less any deposit, plus reasonable costs to the Debtor and
Co-Owner's special real estate counsel at the closing, subject to
the Court's approval of the appropriate retention application for
said counsel.

The Debtor's special real estate counsel and/or the disbursing
agent handling the closing is authorized to pay the Debtor's real
estate broker Coldwell Banker Residential Regional Marketing Center
the Bankruptcy Court-approved five percent commission at the time
of the closing of the sale of the Property.

The Debtor's special real estate counsel and/or the disbursing
agent handling the closing is authorized to pay $42,500 to Marvin
Lowensteiner and Jacqueline Lowensteiner pursuant to the March 23,
2016 consent order fixing the Lowensteiners' allowed secured
claim.

The Debtor's special real estate counsel and/or the disbursing
agent handling the closing will turnover to non-debtor Co-Owner
Joan Van Peenen 50 percent of the net closing proceeds of the sale
of the Property, after payment of all outstanding real estate taxes
or tax liens; allowed secured portion of the first mortgage of the
Lowensteiners; second mortgage of the West Virginia Paint and Tank
Co; the Court-allowed 5 percent real estate broker's commission;
and the Court-allowed legal fees and costs of the Debtor and
Co-Owner's special real estate counsel.

Marinus J. Van Peenen filed a Chapter 11 petition (Bankr. D.N.J.
Case No. 15-26283) on Aug. 28, 2015.

The Debtor's attorneys:

         HOOK & FATOVICH, LLC
         1044 Route 23 North, Suite 204
         Wayne, NJ 07470
         Tel: 973-686-3800
         Fax: 973-686-3801
         Ilissa Churgin Hook, Esq.
         Milica A. Fatovich, Esq.



MARJAN KASAPINOV: July 12 Plan Confirmation Hearing
---------------------------------------------------
Judge John K. Sherwood of the U.S. Bankruptcy Court for the
District of New Jersey approved the modified disclosure statement
explaining Marjan Kasapinov's Chapter 11 plan and scheduled the
hearing on confirmation of the plan for July 12, 2016, at 10:00
a.m.

Written acceptances, rejections or objections to the plan must be
filed with the attorney for the plan proponent not less than seven
days before the hearing on confirmation of the plan.

Marjan Kasapinov (Bankr. D.N.J. Case No. 15-28765) filed a Chapter
11 Petition on October 5, 2015.


MARK A. MARTINEZ: Taps Whittle Law Firm as Legal Counsel
--------------------------------------------------------
Mark A. Martinez, LLC seeks approval from the U.S. Bankruptcy Court
for the Southern District of Texas to hire The Whittle Law Firm,
P.L.L.C.

The Debtor tapped the firm to provide legal services in connection
with its Chapter 11 case, which include the filing of legal papers
and schedules of assets and liabilities.

William Whittle, Esq., will be primarily responsible for
representing the Debtor.  The hourly rate for the firm's attorneys
is $300.

Meanwhile, the normal rate for contract legal assistants employed
by the firm with law degrees from accredited universities and who
are certified legal assistants is $150 per hour.  The hourly rate
for other staff legal assistants and contract legal assistants is
$75.

Mr. Whittle disclosed in a court filing that he is a "disinterested
person" as defined in section 101(14) of the Bankruptcy Code.

The Whittle Law Firm can be reached through:

     William A. Whittle
     The Whittle Law Firm, P.L.L.C.
     5151 Flynn Parkway, Suite 308
     Corpus Christi, Texas 78411
     Telephone: (361) 887-6993
     Telecopier: (361) 887-6999
     Tel: w.whitt1e@whittelalawfirm.com

                        About Mark A. Martinez

Mark A. Martinez, LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Tex. Case No. 16-80149) on May 24,
2016, listing under $50,000 in assets and under $1 million in
liabilities.


MCCORKLE CONCRETE: Taps Hawkins Conrad as Accountant
----------------------------------------------------
McCorkle Concrete, Inc. seeks approval from the U.S. Bankruptcy
Court for the Western District of North Carolina to hire Hawkins,
Conrad & Co., PLLC as its accountant.

Hawkins will help McCorkle comply with its obligations as
debtor-in-possession and assist the company in various tax matters,
which include the preparation of tax returns and monthly reports.

The firm's professionals and their hourly rates are:

     Partner     $285
     Manager     $170
     Staff       $104

William Blaine Hawkins, a certified public accountant and member of
Hawkins, disclosed in a court filing that the firm is a
"disinterested person" as that term is defined in section 101(14)
of the Bankruptcy Code.

Hawkins can be reached through:

     William Blaine Hawkins
     Hawkins, Conrad & Co., PLLC
     Hawkins Conrad & Co., PLLC
     4500 Cameron Valley Parkway, Suite 130
     Charlotte, NC 28211
     Telephone: (704) 365-0500
     Fax: (704) 365-0612
     Email: blaine@hawkinsconradcpa.com

                     About McCorkle Concrete

McCorkle Concrete, Inc., based in Charlotte, North Carolina, filed
a Chapter 11 petition (Bankr. W.D.N.C. Case No. 16-30820) on May
18, 2016.  The Hon. Craig J. Whitley presides over the case.  James
H. Henderson, Esq., at JAMES H. HENDERSON, P.C., serves as counsel
to the Debtor.  In its petition, the Debtor listed total assets of
$1.15 million and total liabilities of $3.40 million.  The petition
was signed by Eric S. McCorkle, president.


MEDIWARE INFORMATION: Moody's Assigns B2 CFR, Outlook Stable
------------------------------------------------------------
Moody's Investors Service assigned a first time B2 corporate family
rating and B2-PD probability of default rating to Mediware
Information Systems, Inc., a provider of software solutions to the
healthcare industry.  Moody's also assigned B2 ratings to the
company's proposed $330 million first lien term loan and revolver.
Proceeds from the debt issuance will be used to refinance existing
debt as well as to fund a distribution to private equity owner
Thoma Bravo.  The ratings outlook is stable.

RATINGS RATIONALE

The B2 corporate family rating reflects Mediware's high leverage
levels post-closing, small scale and acquisition appetite, offset
to some degree by the company's demonstrated cash generating
capabilities resulting from a stable and predictable base of
software maintenance and subscription revenues.  Pro forma debt to
EBITDA is approximately 5.1x (including adjustments for certain
one-time costs) based on the LTM period ended on April 30, 2016,
but is expected to decline to under 5x over the next 12 to 18
months, driven by EBITDA growth, debt repayment.  Mediware provides
critical enterprise resource planning and electronic health record
systems to the non-acute healthcare market. Mediware's products are
"sticky" as the software can be difficult to remove once fully
integrated into a care provider's operations. As a result, Mediware
has exhibited maintenance retention rates in excess of 90%, leading
to stable free cash flow generation. Moody's expects free cash flow
to debt will exceed of 5% over the next 12 to 18 months.  The
non-acute care software market is fragmented, and it is expected to
grow over the medium-term due to continued adoption of IT systems
by non-acute healthcare providers.  Mediware's EBITDA growth is
expected to be driven by low to mid-single digit organic revenue
growth, supplemented by occasional acquisition activity which could
delay de-leveraging or if large enough, increase leverage.

Liquidity is expected to be good based on an estimated $17 million
of cash on hand at closing, an undrawn $30 million revolver and an
expectation of free cash flow in excess of $20 million over the
next 12 months.

The stable outlook reflects Moody's expectation of revenue growth
in the low to mid-single digits and the expectation of free cash
flow to debt of more than 5% over the next 12 to 18 months.  Given
the company's acquisition strategy, an upgrade is unlikely in the
near term.  The company could be upgraded if leverage is expected
to be sustained below 4x and free cash flow to debt is on track to
be sustained above 10%.  Mediware could be downgraded if
performance deteriorates materially or leverage is sustained over
6x, liquidity weakens or free cash flow to debt is expected to be
below 5% on other than a temporary basis.

Assignments:

Issuer: Mediware Information Systems, Inc.

  Corporate Family Rating, Assigned B2

  Probability of Default Rating, Assigned B2-PD

  Senior Secured First Lien Revolving Credit Facility, Assigned B2

   (LGD4)

  Senior Secured First Lien Term Loan, Assigned B2 (LGD4)

  Outlook – Stable

The principal methodology used in these ratings was Software
Industry published in December 2015.

Mediware Information Systems, Inc. is a provider of healthcare
enterprise software.  The company, headquartered in Lenexa, Kansas,
had pro forma revenues of $154 million for the fiscal year ended
June 30, 2015.


MICRO HOLDING: S&P Affirms 'B' CCR on First Lien Add-on
-------------------------------------------------------
S&P Global Ratings said it affirmed its 'B' corporate credit rating
on U.S. online advertising and software services company Micro
Holding Corp.  The rating outlook is stable.

At the same time, S&P affirmed its 'B' issue-level rating on the
company's senior secured first-lien credit facility 2021, including
the proposed $175 million incremental term loan and
$150 million delayed draw term loan both due 2021.  The '3'
recovery rating is unchanged, indicating S&P's expectation for
meaningful recovery (50%-70%; lower half of the range) of principal
in the event of a payment default.

S&P also affirmed its 'CCC+' issue-level rating on the company's
$170 million second-lien term loan due 2022.  The '6' recovery
rating is unchanged, indicating S&P's expectation for negligible
recovery (0%-10%) of principal for debtholders in the event of a
payment default.

"We have revised our business risk profile assessment of Micro
Holding to fair from weak, reflecting the company's increasing mix
of business from software as a service (SaaS) offerings, which
consist of software and data services for the auto sector, and
website design, hosting, and marketing services for the health and
legal sectors," said S&P Global Ratings credit analyst Heidi Zhang.


The SaaS business generates recurring, subscription-based revenue,
which is less volatile than online advertising revenue.  S&P
expects Micro Holding to continue to focus its acquisition efforts
on the SaaS business.  S&P believes revenue from SaaS will increase
to about 65% by year-end 2016 due to recent acquisitions, compared
with 50% in 2015.

The stable rating outlook on Micro Holding reflects S&P's view that
over the next 12 months the company will have mid- to
high-single-digit percentage organic growth rate and its adjusted
debt leverage will decline to the mid- to high-5x area.  S&P also
expects that the company will continue to expand its market share
with small and midsize businesses in its health and legal sectors,
and increase its share of revenue from the less-volatile SaaS
business.



MOHAMMAD ZAMAN: Unsecureds to Get 1% Under Plan
-----------------------------------------------
Mohammad Zaman and Nasrin M. Khan filed with the U.S. Bankruptcy
Court for the Southern District of Florida, West Palm Beach
Division, a third amended disclosure statement for a plan of
reorganization proposing to pay 1.0% to the holders of general
unsecured claims.

General unsecured claims total $1,491,542, which will be paid a
total of $15,000, payable $250 monthly in 60 months.

Funds to be used to make cash payments under the Plan will derive
from the income of the Debtors.

A full-text copy of the Disclosure Statement is available at:

          http://bankrupt.com/misc/canb13-52321-238.pdf

Mohammad Zaman (Bankr. S.D. Fla. Case No. 13-21648) filed a Chapter
11 Petition on May 19, 2013.  Mr. Zaman owns and manages several
businesses involved primarily in the gas station ownership and
operations business, including Hefaz Enterprises, Inc., a company
previously in bankruptcy, as well as MN Corporation USA, Inc.,
currently a debtor in Chapter 11 case, Case No. 15-15416-PGH.

The Debtor is represented by:

          David Lloyd Merrill, Esq.
          Merrill PA
          Trump Plaza Office Center
          525 S Flagler Drive, 5th Floor
          West Palm Beach, FL 33401
          Tel: (561) 877-1111
          Fax: (561) 832-7668


MOUNTAIN PROVINCE: Updates Gahcho Kue Diamond Mine Development
--------------------------------------------------------------
Mountain Province Diamonds Inc. announced that Gahcho Kue has
achieved mechanical completion of the primary crusher and that
commissioning of the process plant continues to progress well.
Based on the progress to date, Gahcho Kue expects to commence
production during Q3 2016.  The specific timing within Q3 will
depend on progress with the remaining commissioning.

Mountain Province president and CEO Patrick Evans commented: "We
are pleased with the continuing excellent progress at Gahcho Kue
and excited that first production will commence within the next few
months.  Key areas of focus are finalization of commissioning of
the process plant, remaining earthworks, pre-stripping and mining
of kimberlite, as well as preparations for operational readiness."

Gahcho Kue's safety performance remains very good.  In May 2016,
the mine surpassed an impressive one million hours worked without a
lost-time injury.  The permanent staff complement of the mine now
stands at 290, including 91 experienced employees transferred from
the De Beers Snap Lake mine.

In anticipation of first production, Mountain Province has
concluded all the necessary contract arrangements to be in a
position to receive, sort and sell its share of diamond production
from Gahcho Kue.  The Company's diamond marketing team, under the
leadership of Reid Mackie, Vice President of Diamond Marketing, has
been complemented with appointment of Mark Pearton as manager of
diamond operations and Elizabeth Swanson and manager of diamond
analysis.  Ms. Swanson and Mr. Pearton have considerable diamond
experience, principally with Rio Tinto Diamonds.

Mr. Evans concluded: "The project also continues to meet our
lending group's tests-to-completion with US$47M advanced to fund
cash calls during Q2 2016.  A total of US$278M has been drawn
against the US$370M facility."

                 About Mountain Province Diamonds

Headquartered in Toronto, Canada, Mountain Province Diamonds Inc.
(TSX: MPV, NYSE AMEX: MDM) -- http://www.mountainprovince.com/--
is a Canadian resource company in the process of permitting and
developing a diamond deposit known as the "Gahcho Kue Project"
located in the Northwest Territories of Canada.  The Company's
primary asset is its 49 percent interest in the Gahcho Kue
Project.

Mountain Province reported a net loss of C$43.16 million for the
year ended Dec. 31, 2015, compared to a net loss of C$4.39 million
for the year ended Dec. 31, 2014.

As of March 31, 2016, Mountain Province had C$694 million in total
assets, C$366 million in total liabilities and C$328 million in
total shareholders' equity.


MWI HOLDINGS: Moody's Assigns B3 CFR, Outlook Stable
----------------------------------------------------
Moody's Investors Service assigned first-time ratings to MWI
Holdings, Inc., including a B3 Corporate Family Rating and B3-PD
Probability of Default Rating.  Concurrently, Moody's assigned a B2
rating to the company's proposed first-lien senior secured bank
credit facilities, comprising a $40 million revolving credit
facility and a $325 million term loan, and a Caa2 rating to its
proposed $105 million second-lien term loan.  The ratings outlook
is stable.

Assignments:

MWI Holdings, Inc.

  Corporate Family Rating, B3;
  Probability of Default Rating, B3-PD;
  Senior secured first-lien bank facilities, B2 (LGD3);
  Senior secured second-lien bank facility, Caa2 (LGD5).

The ratings outlook is stable.

Proceeds of the debt issuance will be used primarily to refinance
existing debt of about $390 million, following the company's
February 2016 acquisition of USA Fastener Group, Inc., and increase
the cash balance by approximately $20 million.

                         RATINGS RATIONALE

The ratings, including the B3 CFR, reflect MWI's product
concentration and modest scale in the highly competitive market for
specialized springs and fasteners, and Moody's expectation that MWI
will operate with substantial financial leverage and relatively
weak interest coverage for some time.  The ratings also consider
the company's exposure to cyclical end-markets (such as the
industrial, construction, energy, and agricultural heavy equipment
markets) that continue to face significant headwinds. Moody's
expects the downturn in the majority of these end markets to
continue, pressuring profits and cash flow.  MWI has and is
expected to continue pursuing growth through acquisitions to
augment limited organic growth.  The integration risk is
meaningful, given the opportunities for acquisitive growth
presented by the fragmented nature of the industry.  This would
reduce the free cash flow available for debt repayment.  Based the
these factors, Moody's anticipates that meaningful de-leveraging is
unlikely over the intermediate term.  Debt/EBITDA (all numbers
inclusive of Moody's standard adjustments) is expected to remain
above 6.0x and EBITA/interest in the mid-1.0x over the next year.

Nonetheless, the rating reflects MWI's diverse end-markets, long
established relationships with original equipment manufacturers and
dealers, and adequate liquidity.  The company also has good
regional diversification in the U.S., in terms of retail
distribution and manufacturing facilities.  Although MWI's products
can be substituted, it reduces this risk through customization and
maintaining locations near its end-market customers.  This fosters
long-term relationships and supports MWI's relatively good margins.
The rating also anticipates that the fairly new (but experienced)
management team will manage costs to mitigate revenue headwinds and
maintain liquidity and credit metrics that support the B3 rating
level.

Moody's considers MWI's liquidity profile as adequate, supported by
anticipated modest free cash flow generation of at least $10 to $20
million through fiscal 2017 (ended June 30).  With minimal
amortization requirements of less than $5 million annually, Moody's
anticipates the company will likely use free cash to fund
acquisitions or dividends.  Despite the company's history of
carrying low cash balances, additional liquidity is expected to be
provided by the proposed $40 million cash flow revolving credit
facility.  The revolver is not anticipated to be used upon close of
the transaction.

The stable ratings outlook reflects Moody's expectation that MWI
will manage costs efficiently to navigate through competitive
pressures and the protracted downturn in the industrial
end-markets, support margins while integrating recent acquisitions
and generate credit metrics that remain in line with the B3 rating
level.

The ratings could be downgraded with expected declines in organic
revenues and/or lack of improvement in margins or a deterioration
in the company's liquidity position, including lower than
anticipated free cash flow generation, such that debt/EBITDA were
to exceed 6.25x or EBITA/interest were to approach 1.0x on a
sustained basis.  Shareholder-friendly actions that compromise
debt-holder interests or the making of sizeable debt-funded
acquisitions, particularly without stabilization in industrial
end-market conditions, could also pressure the ratings.

In light of the company's small size, limited product
diversification, and exposure to cyclical end-markets that are in a
protracted downturn, a ratings upgrade is unlikely in the
intermediate term.  However, upward ratings momentum could develop
should the company grow in scale without impinging its margins and
apply free cash flow towards debt reduction beyond required
amortization, such that Moody's expects Debt/EBITDA to approach the
mid to low 5.0x and EBITA/interest about 2.0x, on a sustained
basis, and maintenance of a good liquidity profile.

The principal methodology used in these ratings was Global
Manufacturing Companies published in July 2014.

MWI Holdings, Inc., headquartered in Rosemont, Illinois, is a
manufacturer and designer of engineered compression and other
springs, fasteners, and precision components across diverse
end-markets.  Pro forma for the USA Fastener Group, Inc.
acquisition, revenues would be approximately $320 million for the
last twelve months ended April 30, 2016.  The company is
majority-owned by funds affiliated with Genstar Capital Management,
a private equity firm.


MWI HOLDINGS: S&P Assigns 'B' CCR, Outlook Stable
-------------------------------------------------
S&P Global Ratings said that it has assigned its 'B' corporate
credit rating to Chicago-based MWI Holdings Inc.  The outlook is
stable.

Concurrently, S&P assigned its 'B' issue-level rating and '3'
recovery rating, which indicates its expectation for meaningful
recovery (50%-70%; upper half of the range) in the event of a
payment default, to the company's $40 million revolving credit
facility maturing in December 2019 and $325 million first-lien term
loan facility maturing in June 2020.  S&P also assigned its 'CCC+'
issue-level rating and '6' recovery rating, which indicates S&P's
expectation for negligible (0%-10%) recovery in the event of a
payment default, to the company's $105 million second-lien term
loan expiring December 2020.

The company will use the proceeds from this debt to refinance about
$390 million of existing debt and pay fees and expenses.
Additionally, it will add roughly $20 million to its balance sheet
to be used for general corporate purposes, including capital
expenditures and additional acquisitions.

"The rating reflects our view of the company's very aggressive
financial policy and highly leveraged financial risk profile with
total debt to EBITDA of 7.2x pro forma for the transaction," said
S&P Global credit analyst Christopher Corey.  "It also reflects a
weak business risk assessment due to the company's limited scale
and moderately diverse customer base, which is partially offset by
attractive profitability margins." With sales of $282 million in
audited 2015 (ended June 30), MWI manufactures specialized
industrial components such as springs and fasteners serving general
industrial, automotive aftermarket, petrochemical, distributors,
medical, heavy truck, and aerospace end markets mostly in the U.S.
and Canada.

The stable outlook reflects S&P's expectation that modest revenue
growth and above-average EBITDA margins of around 20% will lead to
some improvement in the company's credit measures, specifically a
decline in its debt to EBITDA to about 6x in the next 12 months
while it pursues small-to-moderate acquisitions.

S&P could lower the rating if demand for some of MWI's key products
falls, resulting in declining revenue and margin contraction that
leads to leverage remaining above 6.5x for a sustained period.  S&P
could also lower the ratings if the company is unable to generate
positive free cash flow for a sustained period, leading to the
potential thinning of its covenant cushion.

Although S&P is unlikely to do so in the next 12 months, given the
company's aggressive policy of growth through acquisition, S&P
would consider raising the rating if MWI improves its credit
measures so that its leverage improves to less than 5x on a
sustained basis and S&P come to expect the company to sustain that
improvement.  S&P could also consider raising the rating if the
company adheres to a less aggressive financial policy.


NET ELEMENT: Oleg Firer Reports 14.5% Equity Stake as of June 13
----------------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Oleg Firer disclosed that as of June 13, 2016, he
beneficially owns 1,815,730 shares of common stock of Net Element,
Inc., representing 14.5 percent of the shares outstanding.

On June 13, 2016, the stockholders of the Company approved (1) the
issuance of 5,791,717 restricted shares of Common Stock to Mr.
Firer in lieu of and in satisfaction of accrued and unpaid
compensation due to him in the amount of $1,042,509; and (2) the
issuance of 3,750,000 restricted shares of Common Stock to Mr.
Firer as a performance bonus.  Those shares were adjusted for a
reverse stock split dated May 25, 2016, and accordingly the Company
will issue to Mr. Firer 954,172 restricted shares consisting of (x)
579,172 restricted shares in satisfaction of such accrued and
unpaid compensation; and (2) 375,000 restricted shares as a
performance bonus.

A full-text copy of the regulatory filing is available at:

                   https://is.gd/eN9azD

                      About Net Element

Miami, Fla.-based Net Element International, Inc., formerly Net
Element, Inc., currently operates several online media Web sites
in the film, auto racing and emerging music talent markets.

Net Element reported a net loss of $13.3 million on $40.2 million
of total revenues for the year ended Dec. 31, 2015, compared to a
net loss of $10.21 million on $21.4 million of total revenues for
the year ended Dec. 31, 2014.

As of March 31, 2016, Net Element had $21.61 million in total
assets, $14.05 million in total liabilities and $7.55 million in
total stockholders' equity.

Daszkal Bolton LLP, in Fort Lauderdale, Florida, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has sustained
recurring losses from operations and has working capital and
accumulated deficits that raise substantial doubt about its ability
to continue as a going concern.


NEUSTAR INC: S&P Puts 'BB-' CCR on CreditWatch Negative
-------------------------------------------------------
S&P Global Ratings said it placed its ratings, including the 'BB-'
corporate credit rating, on Sterling, Va.-based Neustar Inc. on
CreditWatch with negative implications.

"The CreditWatch listing follows the company's announcement that it
plans to separate into two companies through a tax-free spin-off
transaction, which is expected to close within 12 months," said S&P
Global Ratings credit analyst Latisha Kimber.

S&P will continue to monitor developments related to the proposed
transaction, including required approvals.  S&P will also meet with
Neustar's management team to review and assess its business
strategy following the spin-off, the terms of the separation,
Neustar's subsequent capital structure, and its ongoing financial
policy.


NEW DAWN ASSISTED: Affiliate Taps Keen-Summit as Broker
-------------------------------------------------------
Limon-Iowa, LLC seeks approval from the U.S. Bankruptcy Court for
the District of Arizona to hire Keen-Summit Capital Partners Inc.

Limon-Iowa, an affiliate of New Dawn Assisted Living Operating
Company LLC No. 24, tapped the firm to market and sell its
property.

Keen-Summit will earn a fee of 6% of the gross proceeds from the
transaction.  The fee is earned as and when the Debtor closes on
the sale of the property.

Harold Bordwin, managing director of Keen-Summit, disclosed in a
court filing that the firm is a "disinterested person" as defined
in section 101(14) of the Bankruptcy Code.

Keen-Summit can be reached through:

     Harold Bordwin
     Keen-Summit Capital Partners LLC
     1460 Broadway
     New York, New York 10036

                    About New Dawn Assisted

New Dawn Assisted Living Operating Company, LLC sought Chapter 11
bankruptcy protection (Bankr. D. Ariz. Case No. 15-14558) on Nov.
13, 2015.  Dennis R. Haydon signed the petition as manager.  The
Debtor estimated both assets and liabilities in the range of $10
million to $50 million.  Gust Rosenfeld P.L.C. represents the
Debtor as counsel.  Judge Daniel P. Collins is assigned to the
case.


NO PLACE LIKE HOME: Trustee Taps L. Allen Exelbierd as Accountant
-----------------------------------------------------------------
Lynda F. Teems, acting Trustee for the NPLH Qualified Settlement
Fund Trust, seeks authorization from the U.S. Bankruptcy Court for
the Western District of Tennessee to employ L. Allen Exelbierd as
accountant to perform services reasonably necessary to assist the
Trustee in filing tax returns and other general accounting services
for the benefit of the Trust.

On June 14, 2016, the Court entered an order allowing No Place Like
Home, Inc., to establish and fund a Qualified Settlement Fund
Trust.  Lynda F. Teems was appointed Trustee of the Trust.

The Accountant would receive $200 per hour and reimbursement of
expenses upon application and approval by the Court.

The Accountant assures the Court that he does not hold any interest
adverse to the Debtor, the estate in bankruptcy, the creditors, or
any other party in interest, their respective attorneys and
accountants in this case, and that he is a disinterested person as
defined in 11 U.S.C. Section 101.

The Accountant can be reached at:

     L. Allen Exelbierd, CPA
     5668 Shady Glen Road
     Memphis, Tennessee 38120
     Tel: (901) 761-4332
     E-mail: laexcpa@aol.com

The Trustee is represented by:

     Lynda F. Teems
     Trustee for NPLH Qualified Settlement Fund Trust
     80 Monroe Avenue, Suite 625
     Memphis, Tennessee 38103-2491
     Tel: (901) 526-5555
     Fax: (901) 529-1233
     E-mail: lteems1@aol.com

                    About No Place Like Home

No Place Like Home, Inc., based in Collierville, Tenn., filed a
Chapter 11 petition (Bankr W.D. Tenn. Case No. 15-31133) on Nov.
20, 2015.  Hon. David S. Kennedy presides over the case.  E.
Franklin Childress, Jr., Esq., and M. Ruthie Hagan, Esq., at Baker,
Donelson, Bearman, Caldwell & Berkowitz P.C., serve as counsel to
the Debtor.  In its petition, the Debtor estimated $1 million to
$10 million in assets and liabilities.  The petition was signed by
John Flood, president.


NORTHWEST HEALTH SYSTEMS: Confirmation Hearing Set for July 21
--------------------------------------------------------------
A notice of approval of the disclosure statement explaining
Northwest Health Systems, Inc.'s plan of reorganization was filed
with the U.S. Bankruptcy Court for the Eastern District of
Washington on June 8, 2016.

Ballots accepting or rejecting the Plan of Reorganization must be
filed with the Clerk of the Bankruptcy Court on or before July 1,
2016.

Parties in interest who wish to object to confirmation of the Plan
of Reorganization must file with the Clerk of the Bankruptcy Court
at 904 West Riverside Avenue, P.O. Box 2164, Spokane, Washington
99210-2164, on or before July 11, 2016, a written objection to
confirmation and serve a copy on the Proponent and Davidson Backman
Medeiros PLLC.

The confirmation hearing on the Plan of Reorganization is set for
July 21, 2016 at 10:00 a.m. (PST), to be held in open court before
the Honorable Frederick P. Corbit. Said hearing shall take place at
the United States Bankruptcy Court, 904 West Riverside Avenue,
Third Floor Courtroom, Spokane, Washington 99210.

Northwest Health Systems, Inc. (Bankr. E.D. Wash., Case No.
15-02968) filed a Chapter 11 Petition on August 31, 2015, and is
represented by Barry W Davidson, Esq., at Davidson Backman Medeiros
PLLC, in Spokane, Washington.  At the time of filing, the Debtor
had estimated assets of $1 million to $10 million and estimated
liabilities of $1 million to $10 million.

The petition was signed by Kevin D. King, president.


OCWEN FINANCIAL: Fitch Affirms 'B-' LT Issuer Default Ratings
-------------------------------------------------------------
Fitch Ratings has affirmed the Long-Term Issuer Default Ratings
(IDRs) of Ocwen Financial Corporation (OCN) and its wholly-owned
subsidiary, Ocwen Loan Servicing, LLC (OLS) at 'B-'. Fitch has also
affirmed OCN's senior unsecured notes and OLS's senior secured term
loan at 'CC/RR6' and 'B-/RR4', respectively. The Rating Outlook is
Stable.

KEY RATING DRIVERS

IDRs AND SENIOR DEBT

The affirmations reflect OCN's scale and market position within the
subprime mortgage servicing industry, sufficient liquidity and cash
flow generation capacity, and appropriate capitalization and
leverage for its current ratings. Rating constraints include
longer-term challenges regarding OCN's strategic direction and
financial performance under heightened operational and governance
frameworks resulting from elevated regulatory scrutiny and
compliance standards. In particular, OCN faces execution risk
associated with building a lending platform positioned for
sustainable growth, and earnings pressure associated with increased
compliance costs. Potential risks associated with OCN's
relationship with New Residential Investment Corp. (NRZ), namely
NRZ's right to seek to transfer non-agency servicing rights away
from OCN in the absence of a servicer rating upgrade, are also
rating constraints.

The Stable Rating Outlook reflects Fitch's expectation that OCN's
financial profile will remain fairly stable over the outlook
horizon, particularly concerning its operating cash flow
generation, leverage, and near-term funding obligations. In
addition, OCN's ratings are already at a highly speculative rating
level, which incorporates the potential business-, financial-, and
compliance-related challenges associated with the company's current
operations.

NRZ is a publicly traded REIT externally-managed by an affiliate of
Fortress Investment Group LLC, which currently owns approximately
$523.5 million in rights to mortgage servicing rights (MSRs) and
related servicing advances for non-Agency loans totaling $132.7
billion in unpaid principal balances (UPB) for which OCN currently
acts as servicer. These MSRs were previously held by OCN-affiliate,
Home Loan Servicing Solutions, Ltd. (HLSS). Fitch believes the NRZ
relationship poses potential risks to OCN. For example, NRZ has the
right to direct a transfer of servicing after receipt of
third-party consents on affected servicing agreements, should OCN's
servicer ratings remain below a specified threshold after April 7,
2017. Following such a transfer of servicing, OCN may no longer be
entitled to receive servicing fees on a meaningful notional amount
of OCN's total non-Agency servicing portfolio. Fitch views the
probability of a servicing transfer as limited given the required
third-party consents and licenses, as well as OCN's low cost to
service high-touch subprime mortgages and scale.

Facing earnings pressure and a declining revenue base, OCN
announced a cost improvement initiative in September 2015 in an
effort to adjust the business for a reduced portfolio size and
overhead structure. The cost improvement initiative is expected by
OCN to generate a $300 million reduction in operational costs in
2016. Adjusted operating expenses declined $55 million, or 17% in
1Q16. Excluding MSR fair value changes, monitoring, lending, and
new initiatives spending (rental and dealer floorplan finance), OCN
reduced expenses by $80 million in 1Q16. Given the progress made to
date, Fitch believes OCN can execute on the planned savings in the
remainder of 2016. However; Fitch believes that uncontrollable
costs, such as elevated compliance costs and MSR valuation changes
will continue to pressure operating margins and create a drag on
OCN's profitability in the near- to medium-term.

Fitch believes OCN has sufficient liquidity from balance sheet cash
and operating cash flow generation to cover its current financing
needs. As of March 31, 2016, the company had unrestricted cash of
$280.5 million and generated cash flow from operations of between
$500 million and $600 million over the last two-years.

OCN is heavily reliant on the wholesale debt markets to fund its
operations. The company had $1.5 billion in advance funding
facilities, $718.8 million in secured borrowings and $345.8 million
in unsecured notes outstanding, as of March 31, 2016. In March
2016, OCN negotiated an amendment under its senior secured term
loan (SSTL). Among other things, the amendment permanently removed
certain financial covenants in exchange for a $19 million
prepayment of principal under the SSTL and limits on the future
repurchase of OCN's common stock and the redemption of senior
unsecured notes. Fitch views the improved covenant flexibility
associated with the amendment positively.

Fitch views OCN's capitalization and leverage to be appropriate
relative to its current ratings. Fitch primarily assesses OCN's
leverage on the basis of consolidated debt to tangible equity,
which amounted to 6.27x as of March 31, 2016. The current metric is
higher than the long-run average of 4.79x since 2011, as recent net
losses have eroded retained earnings, which has more than offset
the significant paydowns of principal made under the SSTL. Fitch
calculates the consolidated leverage metric including the debt from
Altisource Portfolio Solutions S.A. which provides technology,
servicing software, and short sale and REO management to OCN, and
the servicing advance financing facilities related to the rights to
MSRs held by NRZ. Given that OCN's sales of its Agency servicing
portfolios is substantially complete, Fitch believes the pace of
repayments under the SSTL will likely abate and leverage is
expected to remain relatively stable or worsen given the potential
for future net losses, which will continue to erode retained
earnings over the near- to medium-term. OCN's meaningful cost
reduction efforts are expected to mitigate some of the earnings
pressures in the near-term.

OCN currently has a $500 million share repurchase program, approved
by the board until July 31, 2016. In 1Q16, the company completed
the repurchase of 991,985 shares under the program for a total
purchase price of $5.9 million. As of March 31, 2016, the
approximate remaining authorization under the repurchase program
was $119.7 million. Given OCN's current strategic priorities
regarding new businesses and liquidity, Fitch does not envision
significant repurchases under the current program.

OLS's SSTL has been affirmed at 'B-/RR4', which reflects
equalization of the SSTL rating with the IDRs assigned to OCN and
OLS, as well as the average recovery prospects in a stressed
scenario based upon available collateral coverage for the term
loan. The SSTL is secured by a first-priority interest in all
unencumbered assets of the company and a pledge of capital stock of
all subsidiaries.

OCN's senior unsecured notes have been affirmed at 'CC/RR6', which
maintains the two-notch differential between the senior unsecured
note ratings and the IDR assigned to OCN, and reflects the
company's predominately secured funding profile, the modest level
of unencumbered assets available to support the unsecured
noteholders and the expectation of poor recovery prospects in a
stressed scenario.

SUBSIDIARY AND AFFILIATED COMPANY

OLS is a primary operating company and wholly-owned subsidiary of
OCN. The ratings of OLS are aligned with those of OCN because of
the unconditional guaranty provided by OCN and its guarantor
subsidiaries.

RATING SENSITIVITIES

IDRs AND SENIOR DEBT

Fitch does not envision upward rating momentum for OCN at this time
given the on-going long-term strategic uncertainty and execution
risks noted above, combined with recent profitability challenges.
However, the Rating Outlook could be revised to Positive if OCN can
continue to demonstrate progress in complying with its consent
orders and independent monitors, further improve its overall
corporate governance framework, strengthen its financial position,
and establish a sustainable and competitive business model as a
mortgage lender without incurring outsized credit risk.

The ratings could be downgraded or the Outlook could be revised to
Negative as a result of:

-- Material fines or penalties or further restrictions on
    business activities resulting from additional lawsuits or
    regulatory actions.

-- A material transfer of servicing duties due to termination of
    the servicing contract from NRZ.

-- Sustained strategic uncertainty, including inability to build
    a sustainable mortgage origination platform or material
    expansion into businesses outside of OCN's core business.

-- Insufficient cash coverage of near-term debt maturities.

-- A sustained increase in balance sheet leverage on a
    consolidated basis and/or a reduced commitment by management
    to reduce balance sheet leverage.

-- Aggressive capital management.

The ratings of the SSTL are sensitive to changes in OLS and OCN's
Long-term IDRs, as well as changes in collateral values and advance
rates under the secured borrowing facilities, which ultimately
impact the level of available asset coverage.

The ratings of the senior unsecured notes are sensitive to any
changes in OCN's Long-term IDR as well as to changes in OCN's
funding profile, the mix of secured to unsecured funding, and
unencumbered asset coverage. A material increase in unsecured
funding combined with a material improvement in unencumbered asset
coverage could reduce the notching between the IDR and the
unsecured notes and/or improve the RR.

SUBSIDIARY AND AFFILIATED COMPANY

The ratings of OLS are sensitive to the same factors that might
drive a change in OCN's IDR due to the unconditional guaranty
provided by OCN and its guarantor subsidiaries.

Fitch has affirmed the ratings as follows:

Ocwen Financial Corporation
-- Long-Term IDR at 'B-';
-- Short-Term IDR at 'B';
-- Senior unsecured notes at 'CC/RR6'.

Ocwen Loan Servicing, LLC
-- Long-Term IDR at 'B-';
-- Senior secured term loan at 'B-/RR4'.

The Rating Outlook is Stable.


OI S.A.: Chapter 15 Case Summary
--------------------------------
Chapter 15 Petitioner: Ojas N. Shah

Chapter 15 Debtors:

   Debtors                                      Case No.
   -------                                      --------
   Oi S.A.                                      16-11791
   Rua Do Lavradio, No. 71, 2nd Floor
   Rio de Janeiro, RJ 2 02 30070
   Brazil

   Oi Movel S.A.                                16-11792

   Telemar Norte Leste S.A.                     16-11793

   Oi Brasil Holdings Cooperatief U.A.          16-11794

Type of Business: Telecommunications

Chapter 15 Petition Date: June 21, 2016

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Judge: Hon. Sean H. Lane

Chapter 15 Petitioner's Counsel: John K. Cunningham, Esq.
                                 Mark P. Franke, Esq.
                                 WHITE & CASE LLP
                                 1155 Avenue of the Americas
                                 New York, New York 10036-2787
                                 Tel: (212) 819-8200
                                 E-mail:
johncunningham@whitecase.com
                                         mark.franke@whitecase.com
             
                                         - and -

                                 Jason N. Zakia, Esq.
                                 Richard S. Kebrdle, Esq.
                                 Laura L. Femino, Esq.
                                 WHITE & CASE LLP
                                 Southeast Financial Center
                                 200 South Biscayne Blvd.,
                                 Suite 4900
                                 Miami, Florida 33131
                                 Tel: (305) 371-2700
                                 E-mail: jzakia@whitecase.com
                                         rkebrdle@whitecase.com
                                        
laura.femino@whitecase.com

Estimated Assets: Not Indicated

Estimated Debts: Not Indicated


OI S.A.: Seeks U.S. Recognition of Brazilian Proceeding
-------------------------------------------------------
In support of the reorganization proceeding already underway in
Brazil, OI S.A., Telemar Norte Leste S.A., Oi Brasil Holdings
Cooperatief U.A., and Oi Movel S.A filed Chapter 15 petitions in
the U.S. Bankruptcy Court for the Southern District of New York
seeking recognition in the United States of the Brazilian
Proceeding.  Despite its financial condition, the Oi Group is
poised to successfully emerge from restructuring and to continue to
provide its customers with the highest level of telecom services.

Ojas N. Shah, as petitioner, commenced the Chapter 15 cases to
ensure a centralized and efficient restructuring of the Company's
capital structure and to protect any and all of the Debtors' U.S.
assets.  The Petitioner also seeks relief to protect the Debtors
against the risk of U.S. lawsuits from creditors that may interfere
with restructuring negotiations.  Although none of the Debtors have
a domicile or any place of business in the United States, they have
borrowed U.S. dollar-denominated funds under instruments governed
by New York law.

On June 20, 2016, OI S.A., et al. filed a joint voluntary petition
in the Seventh Business Court of Rio de Janeiro.  The petition
lists R$87.5 billion in total assets and R$65 billion in total
debt.  The filing came after debt restructuring talks with
creditors failed.  The Brazilian Court's acceptance of the
Proceeding is presently pending.

According to the Petitioner, the Oi Group's recent financial
difficulties began in the wake of a perfect storm of financial
stress at the regulatory, corporate, and national level.  

"Brazil's recent economic crisis has chilled foreign investment in
Brazil, raised interest rates and generally crippled the Brazilian
capital markets.  Financial strain tightened under competitive
pressures in the shifting telecom sector as marketplace demand for
mobile services rapidly rose while the demand for fixed-line
services -- the primary operational focus of Oi and Telemar --
declined just as quickly," said John K. Cunningham, Esq., at White
& Case LLP, one of the Petitioners' attorneys.

Burdened with the combined effects of the declining Brazilian
economy and increasingly uneconomic regulatory standards in a
rapidly evolving sector, and mindful of the threat of additional
adverse creditor action in multiple foreign forums, the Oi Group
had no choice but to commence the Brazilian Proceeding.

In early 2016 and in an effort to strengthen its market position,
the Company entered into discussions with competitor TIM
Participacoes S.A., for a possible merger, but these efforts proved
fruitless when negotiations terminated on Feb. 25, 2016.

                    The Dutch Litigation

According to the Petitioner, ongoing events in the Dutch Litigation
contributed significantly to the Oi Group's filing in Brazil.  In
March of 2016, U.S.-run hedge fund Capricorn Capital Ltd. -- an
affiliate of hedge fund Aurelius Capital Management -- brought
actions involving Oi, Coop, Portugal Telecom International Finance
B.V, and their present and former directors in the Netherlands.

On May 2, 2016, the Dutch court denied Capricorn's motion for a
freezing order, thereby allowing Coop to continue in its function
as a special purpose financing vehicle of the Oi Group as needed
for Company operations.  The court agreed with Coop in holding that
individual creditors (holding no debt of Coop) have no right to
question the transfer of funds by a financial company to its
operating affiliates (after all, this is the role of a special
purpose financial vehicle).

On May 19, 2016, Capricorn appealed the Dutch court's judgment in
an effort to block Coop from transfer of further funds to the
Company.  The appeal hearing was held on June 15, 2016 and the
judgment in respect to the appeal is expected on July 19, 2016.

A copy of the declaration in support of the Chapter 15 petition
is available for free at:

       http://bankrupt.com/misc/3_OISA_Declaration.pdf

Headquartered in Rio de Janeiro, and operating almost exclusively
within Brazil, the Oi Group provides services like fixed-line data
transmission and network usage for phones, internet, and cable,
Wi-Fi hot-spots in public areas, and mobile phone and data
services, and employs approximately 142,000 direct and indirect
employees.

The Company is represented by John K. Cunningham of White & Case.


In its most recent Annual Report, Oi SA reported total assets of
R$59,552,794,000 (currency in Brazilian Real).


PACIFIC EXPLORATION: Announces Closing of $500-Mil. DIP Financing
-----------------------------------------------------------------
Pacific Exploration & Production Corporation on June 22, 2016,
announced the successful closing of a debtor-in-possession
financing in the amount of US$500 million (the "DIP Financing"),
less applicable fees and charges, with: (i) certain holders of the
Company's senior unsecured notes (the "Supporting Noteholders");
and (ii) The Catalyst Capital Group Inc., on behalf of investment
funds managed by it ("Catalyst" and together with the Supporting
Noteholders, the "DIP Lenders").  In addition, the Company entered
into a U.S.$115,532,794 new letter of credit facility (the "Letter
of Credit Facility") with certain lenders under the Company's
pre-existing credit facilities ()Supporting Bank Lenders", and
together with the Supporting Noteholders, the "Supporting
Creditors").

The closing of the DIP Financing and entering into of the Letter of
Credit Facility are in furtherance of the Company's previously
announced comprehensive restructuring transaction (the
"Restructuring Transaction") with the Supporting Creditors and
Catalyst that will significantly reduce debt, improve liquidity,
and best position the Company to navigate the current oil price
environment.  The Restructuring Transaction has received support
from approximately 79% of the aggregate principal amount of the
debt held by the Company's noteholders and lenders under the
Company's credit facilities.

"The closing of the DIP Financing and the entering into of the
Letter of Credit Facility are a significant milestone for the
Restructuring Transaction.  We continue to work constructively with
the Supporting Noteholders, Catalyst and other stakeholders to
ensure that Pacific emerges from creditor protection as a stronger,
more efficient company," commented Dennis Mills, Chair of the
Independent Committee.

"The Catalyst Capital Group is excited to be the Creditors and
Pacific's partner and provide financing to ensure the long-term
viability of the company," said Gabriel de Alba, Managing Director
and Partner of Catalyst.  "Catalyst's philosophy is to invest in
businesses we can build.  A strong Pacific will play a key role in
its countries of operation, to the benefit of all its stakeholders.
We believe we can contribute greatly to rebuilding that
strength."

As part of the DIP Financing, the Company has issued 6,250,000
warrants (the "Warrants") to the Supporting Noteholders that are
exercisable at a nominal exercise price into common shares in the
reorganized capital of the Company upon completion of the
Restructuring Transaction.  Further information on the
Restructuring Transaction is disclosed in the Company's press
release of April 20, 2016.

The description of the DIP Financing, the Letter of Credit Facility
and the Warrants herein is qualified in its entirety by the text of
these documents, copies of which are available on the Company's
SEDAR profile at http://www.sedar.com/and on SIMEV at
http://www.superfinanciera.gov.co/web_valores/Simev

Shareholder Contact Information

Shareholders are reminded that any questions or concerns can be
directed to the Company at ir@pacificcorp.energy

Noteholder Contact Information

Noteholders with questions concerning the Restructuring Transaction
are encouraged to contact Kingsdale Shareholder Services at
1-877-659-1821 toll-free in North America or call collect at
1-416-867-2272 outside of North America or by email at
contactus@kingsdaleshareholder.com

             About Pacific Exploration & Production

Pacific Exploration & Production Corp. is a Canadian public company
and a leading explorer and producer of natural gas and crude oil,
with operations focused in Latin America.  The Company has a
diversified portfolio of assets with interests in more than 70
exploration and production blocks in various countries including
Colombia, Peru, Guatemala, Brazil, Guyana and Belize.  The
Company's strategy is focused on sustainable growth in production &
reserves and cash generation.   

In April 19, 2016 and April 20, 2016, the Company announced its
entry into an agreement with: (i) The Catalyst Capital Group Inc.,
(ii) certain members of an ad hoc committee of holders of the
Company's senior unsecured notes, and (iii) certain of the
Company's lenders under its credit facilities, to effect a
comprehensive financial restructuring (the "Restructuring
Transaction") that will significantly reduce debt, improve
liquidity, and best position the Company to navigate the current
oil price environment.  The restructuring will be implemented
by way of a plan of arrangement pursuant to a court-supervised
process in Canada, together with appropriate proceedings in
Colombia under Law 1116 and in the United States.

On April 27, 2016, Pacific Exploration, et al., applied for and
received an order for protection pursuant to the Companies’
Creditors Arrangement Act ("CCAA"), R.S.C.1985, c.C-36 from the
Ontario Superior Court of Justice Commercial List and
PricewaterhouseCoopers Inc. was appointed as monitor of the
Applicants (the "Monitor").

The Applicants filed recognition proceedings pursuant to Chapter 15
of title 11 of the United States Bankruptcy Code (the "U.S.
Proceedings") and pursuant to Law 1116 of 2006 of the Republic of
Colombia (the "Colombian Proceedings").  Pacific, et al., each
filed a Chapter 15 bankruptcy petition (Bank. S.D.N.Y. Case Nos.
16-11189 to 16-11211) in New York, in the U.S. on April 29, 2016.


The Company is being advised by Lazard Freres & Co. LLC, Norton
Rose Fulbright Canada LLP (Canada), Proskauer Rose LLP (U.S.),
Zolfo Cooper (U.S.), Garrigues (Colombia) and Kingsdale Shareholder
Services (Canada).  The Independent Committee is being advised by
Osler, Hoskin & Harcourt LLP and UBS Securities Canada Inc.  The
Noteholders forming part of the funding creditors are being advised
by Evercore Group L.L.C. (U.S.), Goodmans LLP (Canada), Paul,
Weiss, Rifkind, Wharton & Garrison LLP (U.S.) and Cardenas y
Cardenas Abogados (Colombia).  FTI Consulting (U.S.), Davis Polk &
Wardwell LLP (U.S.), Torys LLP (Canada) and Gomez-Pinzon Zuleta
Abogados (Colombia) are counsel to the agent on the revolving
credit facility of the Company, and Seward & Kissel is counsel to
the agent on the HSBC Bank, USA, N.A. term loan of the Company.
Catalyst is being advised by Brown Rudnick LLP (U.S.), McMillan LLP
(Canada) and GMP Securities L.P.

PricewaterhouseCoopers Inc., the foreign representative oF Pacific
Exploration, can be contacted at:

         PRICEWATERHOUSECOOPERS INC.
         PwC Tower  
         18 York Street, Suite 2600
         Toronto, ON M5J 0B2
         Attention: Tammy Muradova
         Canada/US: +1 844 855 8568
         Colombia: 01 800 518 2167
         Local US: +1 503 520 4469


PACIFIC WEBWORKS: Erkelens & Olson to Auction Surplus Assets
------------------------------------------------------------
Pacific Webworks, Inc., asks the U.S. Bankruptcy Court for the
District of Utah, Central Division, to authorize the sale of its
"surplus assets" at auction to be conducted by Erkelens and Olson
Auctioneers, and approving the auctioneer's commission in the
amount of 15% of the gross proceeds of sale which will be paid by
the Debtor at the time of the sale.

The Debtor, a publicly traded company formed in 1999, headquartered
in Salt Lake City, UT, operated its business through several wholly
owned subsidiaries, including Dynamic Webtools, LLC ("DWT"), its
last operating subsidiary.  On June 13, 2016, the Debtor filed a
motion to approve the sale of its interest in DWT. Once that sale
is closed, the Debtor does not anticipate a further need to lease
its office space located at 230 West 400 South #100, Salt Lake
City, UT ("Premises").

The Surplus Assets consist of office equipment, supplies and other
furnishings from the Premises.  As the Debtor will no longer be
occupying the Premises, it has no need for the Surplus Assets.  The
Surplus Assets to be sold are:

     1. Conference Table & (8) Chairs
     2. Cisco Phone System
     3. Desks
     4. Tables
     5. Modular Office Desks
     6. Sofas
     7. Vizio Flat screen TV’s
     8. Office Chairs
     9. File Cabinets
     10. Miscellaneous Monitors & Printers
     11. Soda Machine
     12. Fridge & Microwaves
     13. Miscellaneous Artwork
     14. Miscellaneous Office Supplies
     15. Misc. Electronics
     16. Office Dividers
     17. Table & (4) Chairs
     18. Occasional Table

The auction of the Surplus Assets will be conducted in the
following manner:

   A. All bids must be in cash.  Only those bidders who have lodged
their deposits with the auctioneer at or before the commencement of
the auction will be allowed to bid. At the conclusion of the sale,
the auctioneer will return any deposits lodged by unsuccessful
bidders.

   B. The total purchase price bid by any successful bidder, after
deducting the amount of the initial deposit, shall be paid
immediately after the conclusion of the auction.

   C. In the event that a successful bidder fails to complete
payment of the full purchase price immediately after the conclusion
of the auction, the initial deposit placed with the auctioneer
shall be forfeited, and the Surplus Assets shall be offered to the
next highest bidder at the next highest bidder's highest bid
price.

   D. The Surplus Assets shall be sold on an "as is, where is"
basis, without any representations or warranties.

   E. The Debtor and/or the auctioneer will reserve the right to
reject bids which in their opinion are insufficient or do not
conform to the terms of the sale set forth.  Moreover, some of the
Surplus Assets may be subject to minimum bids.  The Debtor further
reserves the right to continue the sale from time to time and from
place to place as it deems appropriate, and to withdraw one or more
items of Surplus Assets from the auction at any time.

   F. The sale of the Surplus Assets will take place at the
business premises of the Debtor, located at 230 West 400 South #
100, Salt Lake City, UT 84101 on July 7, 2016 at 10:00 a.m.

   G. A preview for the Surplus Assets will occur on July 7, 2016
from 8 to 10 a.m.

   H. Directions and maps for the site location for the preview and
auction may be obtained by contacting Erkelens and Olson
Auctioneers, whose business is located at 430 West 300 North, Salt
Lake City, UT 84103, (801) 355-6655. Additional information
concerning the auction may also be found at
http://www.salesandauction.com/

   I. The auctioneers' commission in the amount of 15% of the gross
proceeds of sale will be paid by the Debtor at the time of the
sale.

Pacific Webworks is represented by:

          George Hofmann
          Adam Reiser
          COHNE KINGHORN
          111 East Broadway, 11th Floor
          Salt Lake City, UT 84111
          Telephone: (801) 363-4300
          Facsimile: (801) 363-4378

                      About Pacific Webworks

Pacific WebWorks, Inc., previously known as Asphalt Associates, was
an application service provider and software development company.

Pacific WebWorks sought Chapter 11 protection (Bankr. D. Utah Case
No. 16-21223) on Feb. 23, 2016 to pursue an orderly liquidation of
its assets. It estimated assets and debt of $1 million to $10
million.

The Debtor tapped George B. Hofmann of Cohne Kinghorne as counsel.
The Debtor also engaged Rocky Mountain Advisory as an independent
contractor to provide management services, and appointed Gil Miller
as chief restructuring officer.


PACKAGING COORDINATORS: Moody's Assigns B2 CFR, Outlook Stable
--------------------------------------------------------------
Moody's Investors Service assigned ratings to Packaging
Coordinators Midco, Inc., a subsidiary of Pioneer UK Midco 1
Limited.  Moody's assigned a B2 Corporate Family Rating (CFR) and a
B2-PD Probability of Default Rating (PDR).  Moody's also assigned a
B1 credit rating to the proposed first lien credit facilities and a
Caa1 to its second lien term loan.  Pioneer UK Midco 1 Limited will
be a guarantor of the debt.  The loan proceeds, together with cash
and rollover equity, will be used to fund the planned acquisition
of PCI by Partners Group, a private equity firm, including the
repayment of legacy PCI's existing debt.  The outlook is stable.

Following the close of the acquisition, Moody's will withdraw the
ratings on all of PCI's previously rated debt, which will be
refinanced as part of the pending transaction.

Ratings Assigned:

Packaging Coordinators Midco, Inc. (PCI)

  Corporate Family Rating at B2
  Probability of Default Rating at B2-PD
  $65 million first lien senior secured revolving credit facility
   due 2021, B1 (LGD3)
  $460 million first lien senior secured term loan due 2023, B1
   (LGD3)
  $205 million second lien senior secured term loan due 2024, Caa1

   (LGD5)
  The outlook is stable.

Ratings to be withdrawn upon close:

PCI Pharma Midco UK Limited

  Corporate Family Rating at B2
  Probability of Default Rating at B2-PD

Packaging Coordinators, Inc.

  $50 million first lien senior secured revolving credit facility
   due 2019, B1 (LGD3)
  $376 million first lien senior secured term loan due 2021, B1
   (LGD3)
  $105 million second lien senior secured term loan due 2022, Caa1

   (LGD5)

RATINGS RATIONALE

The B2 CFR reflects PCI's modest size, both on an absolute basis
and relative to several much larger competitors, high financial
leverage and aggressive financial policy.  The ratings also
incorporate Moody's expectation that the company will pursue
bolt-on acquisitions which may further increase PCI's already high
adjusted debt to EBITDA.  Pro forma for the transaction, PCI's
adjusted debt to EBITDA was 6.6x as of March 31, 2016, or 7.0x
without giving consideration to anticipated synergies.  The rating
is also constrained by the risk of revenue losses either due to
patent expirations of customers' products or selective in-sourcing
by customers.

The rating is supported by the company's leading position among
contract packaging services companies, and its relatively
well-diversified customer base consisting largely of blue-chip
pharmaceutical clients.  The rating is also supported by Moody's
expectation for good interest coverage and a moderate level of
capital expenditures, which will allow for consistently positive
free cash flow.  Further, Moody's expects that PCI's growth will be
supported by favorable industry tailwinds, as the pharmaceutical
industry will continue to increase its reliance on outsourced
service providers.  Finally, Moody's expects the company to benefit
from growth in higher margin, more specialized services through its
Penn subsidiary.  Moody's believes that these factors will drive
healthy growth in EBITDA, resulting in deleveraging towards 6.0x
over the next 12-18 months.

The stable outlook reflects Moody's expectation that PCI will
remain a relatively small company with high leverage mitigated by
good product and customer diversity and stable free cash flow.

The ratings could be upgraded if PCI grows its scale while
maintaining good product and customer diversity and reduces debt to
EBITDA to below 4.5x.

The ratings could be downgraded if PCI experiences operating
disruptions such as significant product losses or pricing pressure,
or significantly higher than expected capital expenditures that
depletes free cash flow.  Moody's could also downgrade the ratings
if PCI fails to reduce adjusted debt to EBITDA to below 6.0x within
the next 12 to 18 months.

The principal methodology used in these ratings was Business and
Consumer Service Industry published in December 2014.

PCI is a global provider of outsourced pharmaceutical services that
include commercial and clinical packaging, clinical storage and
distribution services, high potency and non-potent drug
manufacturing, and selected drug development and analytical
services.  For the LTM period ending March 31, 2016, PCI generated
revenue of $492 million.  Following the proposed acquisition, PCI
will be majority-owned by Partners Group, with minority stakes by
Frazier Healthcare (current owner of PCI) and the management team.


PAMLAU LLC: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: Pamlau, LLC
        999 Brickell Ave., Suite 1000
        Miami, FL 33131

Case No.: 16-18820

Chapter 11 Petition Date: June 21, 2016

Court: United States Bankruptcy Court
       Southern District of Florida (Miami)

Judge: Hon. Jay A. Cristol

Debtor's Counsel: David C. Rubin, Esq.
                  DAVID C RUBIN PA
                  6800 SW 40th St. #352
                  Miami, FL 33155
                  Tel: 305-804-1898
                  E-mail: david3051@aol.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $0 to $50,000

The petition was signed by Delma Koessler, manager.

The Debtor did not include a list of its largest unsecured
creditors when it filed the petition.


PARADIGM EAST HANOVER: Taps Keen-Summit as Real Estate Advisor
--------------------------------------------------------------
Paradigm East Hanover, LLC seeks approval from the U.S. Bankruptcy
Court for the District of New Jersey to hire Keen-Summit Capital
Partners LLC.

The Debtor proposes to hire a real estate advisor in connection
with its plan to auction 37 acres of property located in East
Hanover, New Jersey.

Keen-Summit will earn a fee of 3% of the first $8 million of gross
proceeds, plus if applicable, 4.5% of gross proceeds in excess of
$8 million.  Fees are earned as and when the Debtor closes a
transaction, whether such transaction is completed individually or
as part of a package.

The Debtor will also pay all work-related expenses incurred by the
firm.

Harold Bordwin, managing director of Keen-Summit, disclosed in a
court filing that the firm is "disinterested" as defined in section
101(14) of the Bankruptcy Code.

Keen-Summit can be reached through:

     Harold Bordwin
     Keen-Summit Capital Partners LLC
     1460 Broadway
     New York, New York 10036

                   About Paradigm East Hanover

Paradigm East Hanover, LLC sought protection under Chapter 11  of
the Bankruptcy Code (Bankr. N.J. Case No. 16-21245) on June 9,
2016.  The petition was signed by David Kushner, managing member of
manager.  The Debtor disclosed total assets of $10.7 million and
total debts of $3.49 million.


PEAK WEB: Seeks to Employ Ropers Majeski as Special Counsel
-----------------------------------------------------------
Peak Web LLC seeks approval from the U.S. Bankruptcy Court for the
District of Oregon to employ Ropers Majeski Kohn Bentley PC as its
special counsel.

Ropers Majeski will continue to represent the Debtor, which has
been involved in litigation with Machine Zone, Inc. and Epic War,
LLC.  The case is pending in the Superior Court of California in
Santa Clara County.

Within the 12-month period preceding its Chapter 11 filing, Ropers
Majeski has received $200,000 as payment for its legal fees and
costs.

Travelers Insurance is now paying all fees to the law firm
associated with the litigation.  The Debtor proposes that the
insurance company be permitted to continue to pay Ropers Majeski
its fees on an hourly basis.

Michael Ioannou, Esq., a partner at Ropers Majeski, disclosed in a
court filing that the firm does not hold any interest adverse to
the Debtor's estate or any of its creditors.

Ropers Majeski can be reached through:

     Michael J. Ioannou, Esq.
     Ropers Majeski Kohn Bentley PC
     Phone: (408) 287-6262 Phone
     Fax: (408) 918-4501 Fax
     Tel: michael.ioannou@rmkb.com

                       About Peak Web

Headquartered in Oregon, Peak Web, LLC dba Peak Hosting, is a
managed-service company that provides the servers, storage,
network, datacenter, and staff for some of the largest online
businesses.  Peak's operations and engineering teams currently
support 26 customers in industries spanning online and mobile
gaming, finance, real estate, consulting, and big data companies.
Peak has 50% of its data center pre-built and ready for new
customers.  This equates to about 100 racks of space, which can
accommodate approximately 2,000 additional servers for the
expansion of new and existing customers.

Peak Web sought creditor protection in the U.S. Bankruptcy Court
for the District of Oregon (Bankr. D. Ore. Case No. 16-32311) on
June 13, 2016.  The petition was signed by Jeffrey E. Papen as
CEO.

The Debtor estimated assets in the range of $100 million to $500
million and liabilities of up to $100 million.

The Debtor has engaged Tonkon Torp LLP as counsel, Cascade Capital
Group, LLC as consultant and Susman Godfrey LLP and Ropers Majeski
Kohn Bentley PC as its litigation counsel.

The case is assigned to Judge Peter C McKittrick.



PHH CORP: Egan-Jones Cuts FC Sr. Unsecured Rating to B From BB-
---------------------------------------------------------------
Egan-Jones Ratings Company downgraded the foreign currency senior
unsecured rating on debt issued by PHH Corp to B from BB- on June
6, 2016.  EJR also lowered the foreign currency commercial paper
rating on the Company to B from A3.

The PHH Corporation is an American financial services corporation
headquartered in Mount Laurel, New Jersey, which provides mortgage
services to some of the world's largest financial services firms.



PHOENIX BRANDS: Creditors' Committee Taps Saul Ewing as Counsel
---------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of Phoenix Brands LLC, et al., asks for authorization from
the U.S. Bankruptcy Court for the District of Delaware to retain
the law firm of Saul Ewing LLP as counsel, nunc pro tune to June 1,
2016.

A hearing on the request is set for July 6,2016, at 11:00 a.m.
Objections must be filed by June 29, 2016, at 4:00 p.m.

Saul Ewing will provide, among other things, these services:

     (a) advise the Committee with respect to its rights, duties,
         and powers in these Chapter 11 cases;

     (b) assist and advise the Committee in its consultations with
         the Debtors relative to the administration of these
         Chapter 11 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' pre-petition lenders and the
         prosecution of any claims or causes of action revealed by
         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 unexpired 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 unsecured creditors regarding significant matters in
         these 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 behalf of the Committee, any pleadings,

         including without limitation, motions, memoranda,
         complaints, adversary complaints, objections, or comments
         in connection with any of the foregoing; and

     (l) perform other legal services as may be required or are
         otherwise deemed to be in the interests of the Committee
         in accordance with the Committee's powers and duties as
         set forth in the Bankruptcy Code, Bankruptcy Rules, or
         other applicable law.

Saul Ewing will be paid at these hourly rates:

         Partners                   $395-$925
         Special Counsel            $350-$575
         Associates                 $250-$410
         Paraprofessionals          $190-$325

The Committee requests that all legal fees and related costs and
expenses incurred by the Committee on account of services rendered
by Saul Ewing in these cases be paid as administrative expenses of
the estates pursuant to Sections 328, 330(a), 331, 503(b), and
507(a)(1) of the Bankruptcy Code.  Subject to the Court's approval,
Saul Ewing will charge for its legal services on an hourly basis in
accordance with its ordinary and customary hourly rates in effect
on the date such services are rendered, subject to Sections 328(a)
and 330 of the Bankruptcy Code as well as Orders of the Court
entered in these cases.  These hourly rates are subject to periodic
adjustments (typically in January of each year) to reflect economic
and other conditions.  Saul Ewing will maintain detailed records of
actual and necessary costs and expenses incurred in connection with
the legal services.

Sharon L. Levine, Esq., a partner in the law firm of Saul Ewing,
assures the Court that the firm (a) does not hold or represent any
interest adverse to the Debtors' estates in matters upon which it
is to be engaged, and (b) is a "disinterested person" within the
meaning of Section 101(14) of the Bankruptcy Code.

Saul Ewing can be reached at:

         Sharon L. Levine
         Saul Ewing LLP
         One Riverfront Plaza
         1037 Raymond Boulevard, Suite 1520
         Newark, NJ 07102-5426
         Tel: (973) 286-6713
         Fax: (973) 286-6821
         E-mail: slevine@saul.com

                 About Phoenix Brands

Phoenix Brands LLC and its three affiliates sought protection under
Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for
the District of Delaware (Delaware) (Case Nos. 16-11242 to
16-11245) on May 19, 2016.  The petitions were signed by William
Littlefield, CEO and President.  

The cases are assigned to Judge Brendan Linehan Shannon.  A motion
for joint administration of the Chapter 11 cases is pending.   

The Debtors tapped Pachulski Stang Ziehl & Jones LLP as local.

In its petition, Phoenix Brands LLC estimated its assets and
liabilities at between $10 million and $50 million each.


PILGRIM MEDICAL: Taps Anthony Van Grouw as Accountant
-----------------------------------------------------
Pilgrim Medical Center, Inc. seeks approval from the U.S.
Bankruptcy Court for the District of New Jersey to hire Anthony Van
Grouw as its accountant.

The Debtor proposes to hire an accountant to prepare and file its
quarterly reports and business tax returns.

Mr. Van Grouw, a certified public accountant at Anthony VanGrouw &
Associates, will be paid $250 per hour for his services.

In a court filing, Mr. Van Grouw disclosed that the firm is
"disinterested" as defined in section 101(14) of the Bankruptcy
Code.

                  About Pilgrim Medical Center

Pilgrim Medical Center, Inc. sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. D. N.J. Case No. 16-15414) on March 22,
2016.  The petition was signed by Nicholas V. Campanella,
shareholder. The case is assigned to Judge Stacey L. Meisel.  The
Debtor estimated under $50,000 in assets and debts of $1 million to
$10 million.


PILGRIM'S PRIDE: S&P Affirms 'BB+' CCR & Revises Outlook to Neg.
----------------------------------------------------------------
S&P Global Ratings said that it affirmed its 'BB+' corporate credit
rating on Pilgrim's Pride Corp.  S&P revised the outlook to
negative from stable.

S&P affirmed the 'BBB' issue-level ratings on the company's
$700 million revolving credit facility and $1 billion first-lien
term loan due 2020.  The recovery ratings on the secured debt are
unchanged at '1', indicating S&P's expectation for very high
recovery (90%-100%) in a default scenario.  S&P also affirmed the
'BB+' issue-level rating on the senior unsecured notes due 2025.
The '3' recovery rating on the senior unsecured notes remains
unchanged, indicating S&P's expectation of meaningful recovery
(50%-70%, at the high end of the range) in the event of a payment
default.

S&P estimates Pilgrim's Pride has about $1 billion in reported debt
outstanding as of March 27, 2016.

The outlook revision reflects the outlook change of parent company
JBS S.A.

Pilgrim's Pride is deemed a highly strategic subsidiary of
Brazilian protein processor JBS S.A.  JBS' outlook was recently
revised to negative from stable because of lackluster first quarter
2016 performance and sizable derivative losses.  Although Pilgrim's
Pride's projected leverage (including debt to EBITDA below 1.5x) is
much lower than JBS', S&P do not view Pilgrim's Pride's credit
profile as stronger because of the company's weaker business
strength (primarily concentrated in North American poultry
production) and because its cash flow ratios could deteriorate
materially during weaker earnings cycles.  In addition, S&P
recognizes that the company could increase leverage closer to 2x
for possible future acquisitions, although none are anticipated in
base-case projections.  Therefore, S&P caps Pilgrim's Pride's
corporate credit rating at 'BB+', the same as that of parent
company JBS, reflecting JBS' majority ownership of Pilgrim's Pride
and S&P's belief that Pilgrim's Pride is a highly strategic
subsidiary.

"The outlook is negative, reflecting the negative ratings outlook
of parent company JBS S.A., and our opinion that Pilgrim's Pride
will remain a highly strategic subsidiary of JBS, with a credit
profile that cannot be higher than its parent," said S&P Global
Ratings credit analyst Jessica Paige.

JBS' outlook was recently revised from stable to negative because
of lackluster first quarter 2016 performance and sizable derivative
losses; therefore Pilgrim's Pride's outlook was also revised to
negative from stable.  S&P could downgrade Pilgrim's Pride if JBS
is downgraded, or if Pilgrim's Pride's operating performance
unexpectedly weakens, debt to EBITDA approaches or exceeds 3x,
and/or FFO to debt falls below 30%.  S&P believes this could occur
if corn costs return to about $7 per bushel or higher and the
company cannot raise prices high enough to offset the higher feed
costs, or if the company were to pursue a debt-financed acquisition
or another leveraged dividend.


PLAZA HEALTHCARE: Hires Oz Law as Employment Litigation Counsel
---------------------------------------------------------------
Plaza Healthcare Center LLC, et al., seek permission from the U.S.
Bankruptcy Court for the Central District of California to employ
Oz Law Group, Inc., effective as of June 13, 2016, as their special
employment litigation counsel to represent the Debtors in a lawsuit
which has recently been filed in the Superior Court of California
based on claims which are alleged to have accrued after the
commencement of the Chapter 11 cases.  Because the lawsuit is based
on alleged post-petition claims, it may not be subject to the
automatic stay.

A hearing on the request is set for July 6, 2016, at10:00 a.m.

The Debtors seek to employ OLGI as special employment litigation
counsel to represent the Debtors in connection with the Guzman
action, and other employment litigation matters and filed claims as
may be agreed in the future between the Debtors, OLGI and the
Official Committee of Unsecured Creditors.

The Complaint in the action captioned as "Ivonne Guzman, Plaintiff
vs. East Healthcare Center, LLC; East Terrace Wellness GP, LLC;
East Terrace Rehabilitation & Wellness Centre, LP; Country Villa
East L.P. and Does 1 through 250, inclusive, Defendants" alleges
plaintiff was hired in May 2014, and terminated Aug. 11, 2015, so
the Complaint asserts that certain of its claims arose during the
period after the Petition Date and prior to the assumption of
operations by the Buyer as of Sept. 1, 2016.  The Complaint has six
causes of action, including for wrongful termination, multiple
violations of the Labor Code and for retaliation.  The Complaint
seeks damages including for medical injuries and emotional
distress, punitive damages, statutory damages and attorneys' fees.


On Oct. 31, 2014, the Debtors closed the sale of their 18 skilled
nursing and one assisted living facility to a buyer pursuant to a
court-authorized sale of the Debtors' assets.  Because the Buyer
assumed control of operations Sept. 1, 2014, any liability for
wrongful termination, retaliation, medical injuries and emotional
distress, or punitive damages should lie with the Buyer.  However,
the Complaint asserts claims arising during the period between May
2014 and Aug. 31, 2014, for violations concerning overtime, failure
to provide plaintiff with accurate wage statements, violation of
the rules and regulations related to meal breaks and rest breaks.


The Debtors have been advised by the relevant insurance carrier
that the Guzman Action is not covered by insurance; however, even
if it would be covered it would be subject to a $250,000 SIR under
the applicable insurance policy.

The Debtors have been named as defendants in a several lawsuits
based on prepetition claims by employees asserting violation of the
labor laws or other employment related claims.  Because those
claims accrued pre-petition, those lawsuits are subject to the
automatic stay.  The Debtors have also identified several filed
proofs of claim filed in the Chapter 11 cases asserting employment
claims based on events occurring either pre-petition or
post-petition, some of which are not the subject of pending
lawsuits.  The Debtors are working with the insurance companies to
review and resolve the asserted claims.  Some of the claims have
already been settled during the Chapter 11 cases.  It may be
necessary for the Debtors to employ qualified employment litigation
counsel to complete the process of resolving the claims.

Oz Law will be paid at these hourly rates:

     Greg Ozhekim, Esq.           $285
     Susan K. Laffer, Esq.        $285
     Sam Donabedian, Esq.         $185
     Carrie Gilmore, Esq.          $95

Greg Ozhekim, Esq., founder and CEO of OLGI, assures the Court that
the firm doesn't hold nor represent any interest materially adverse
to the interest of the Debtors' estates or of any class of
creditors or equity security holders, by reason of any direct or
indirect relationship to, connection with, or interest in, CVSC,
Mark Beckel, the Debtors or an investment banker for any security
of the Debtors, or for any other reason.

Oz Law can be reached at:

     Greg Ozhekim, Esq.
     Oz Law Group, Inc.
     21700 Oxnard Street, 7th Floor
     Woodland Hills, CA 91367
     Tel: (818) 712-9000
     Website: www.ozlawgroup.com

The Debtors' counsel can be reached at:

     Ron Bender, Esq.
     Philip A. Gasteier, Esq.
     Krikor J. Meshefejian, Esq.
     Lindsey L. Smith, Esq.
     LEVENE, NEALE, BENDER, YOO & BRILL L.L.P.
     10250 Constellation Boulevard, Suite 1700
     Los Angeles, California 90067
     Tel: (310) 229-1234
     Fax: (310) 229-1244
     E-mail: rb@lnbyb.com
             pag@lnbyb.com
             kjm@lnbyb.com
             lls@lnbyb.com

Headquartered in Santa Ana, California, Plaza Healthcare Center LLC
and affiliate Plaza Convalescent Center LP were engaged in the
business of owning and operating skilled nursing facilities in
Southern California, which provided 24 hour, 7 days a week and 365
days a year care to patients who resided at these facilities.
Collectively, the Debtors owned and operated 18 skilled nursing and
one assisted living facility.

The Debtors each filed a voluntary petition under Chapter 11 of the
Bankruptcy Code on March 4, 2014.  The following day, 17 of their
affiliates filed for bankruptcy protection.  The lead case is In re
Plaza Healthcare Center LLC, Case No. 14-11335 (Bankr. C.D.
Calif.).

In its petition, Plaza Healthcare estimated its assets and
liabilities at between $1 million and $10 million each.


PNW ARMS: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: PNW Arms, LLC
        1293 E. Freeze Road
        Potlatch, ID 83855

Case No.: 16-20457

Chapter 11 Petition Date: June 21, 2016

Court: United States Bankruptcy Court
       District of Idaho (Moscow)

Judge: Hon. Terry L Myers

Debtor's Counsel: Bruce A. Anderson, Esq.
                  ELSAESSER JARZABEK ANDERSON
                  ELLIOTT & MACDONALD, CHTD.
                  320 East Neider Avenue, Suite 102
                  Coeur d'Alene, ID 83815
                  Tel: (208) 667-2900
                  Fax: (208) 667-2150
                  E-mail: baafiling@ejame.com
                          brucea@ejame.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Mark Baciak, managing member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/idb16-20457.pdf


PORTOFINO TOWERS: Case Summary & Unsecured Creditor
---------------------------------------------------
Debtor: Portofino Towers 1002 LLC
        255 Collins Ave Ste 1
        Miami Beach, FL 33139

Case No.: 16-18808

Chapter 11 Petition Date: June 21, 2016

Court: United States Bankruptcy Court
       Southern District of Florida (Miami)

Judge: Hon. Laurel M Isicoff

Debtor's Counsel: Joel M. Aresty, Esq.
                  JOEL M. ARESTY P.A.
                  309 1st Ave S
                  Tierra Verde, FL 33715
                  Tel: 305.899.9876
                  Fax: 305.723.7893
                  E-mail: aresty@mac.com
                          aresty@icloud.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Laurent Benzaquen, authorized
representative.

The Debtor listed Heagrand, Inc. as its largest unsecured creditor
holding a claim of $400,000.

A full-text copy of the petition is available for free at:

         http://bankrupt.com/misc/flsb16-18808.pdf


PRELUDE INVESTMENT: Taps Michael Jay Berger as Legal Counsel
------------------------------------------------------------
Prelude Investment LLC seeks approval from the U.S. Bankruptcy
Court for the Central District of California to hire the Law
Offices of Michael Jay Berger as its legal counsel.

The Debtor tapped the firm to:

     (a) give legal advice about its rights and obligations in a
         bankruptcy proceeding;

     (b) represent the Debtor at the initial interview and the
         first meeting of creditors;

     (c) assist the Debtor in complying with reporting
         requirements of the Office of the U.S. Trustee;

     (d) prepare status reports as required by the court;

     (e) respond to any motions filed in the Debtor's bankruptcy
         proceeding;

     (f) respond to creditor inquiries, review proofs of claim and

         object to inappropriate claims; and

     (g) prepare a disclosure Statement and plan of reorganization

         for the Debtor.

The firm will charge the Debtor for the services of Michael Jay
Berger, Esq., at the rate of $495 per hour.  The hourly rates of
the other professionals employed by the firm are:

     Senior Associate         $365
     Mid-level Associate      $345
     Junior Associate         $265
     Paralegals/Law Clerks    $200

In a court filing, Mr. Berger disclosed that the firm does not hold
or represent any interest adverse to the Debtor's estate or
creditors.

The firm can be reached through:

     Michael Jay Berger, Esq.
     Law Offices of Michael Jay Berger
     9454 Wilshire Blvd., 6th Floor
     Beverly Hills, CA 90212-2929
     Telephone: (310) 271-6223
     Facsimile: (310) 271-9805
     E-mail: michael.berger@bankruptcypower.com

                        About Prelude Investment

Prelude Investment LLC filed petition under Chapter 7 of the
Bankruptcy Code (Bankr. C.D. Calif. Case No. 16-11776).  The court
converted the Chapter 7 case to a Chapter 11 proceeding on June 2,
2016.


PREMIER EXHIBITIONS: Wants to Sell Titanic Artifacts
----------------------------------------------------
Premier Exhibitions, Inc., filed a motion with the Bankruptcy Court
seeking permission to sell a portion of the Titanic artifacts
awarded to the Company pursuant to a 1993 French administrative
decree, which are from time to time referred to as the 1987
Artifacts in Company filings.  At this time the Company does not
know when the Bankruptcy Court will rule on this motion, and does
not know the likely outcome of the motion.

                       About RMS Titanic

RMS Titanic, Inc., a wholly owned subsidiary of Premier
Exhibitions, Inc., is the only company permitted by law to recover
objects from the wreck of Titanic.  The Company was granted
Salvor-In-Possession rights to the wreck of Titanic by the United
States District Court for the Eastern District of Virginia, Norfolk
Division in 1994 and has conducted eight research and recovery
expeditions to Titanic recovering approximately 5,000 artifacts.
In the summer of 2010, RMS Titanic, Inc. conducted a
ground-breaking expedition to Titanic 25 years after its discovery,
to undertake innovative 3D video recording, data gathering and
other technical measures so as to virtually raise Titanic,
preserving the legacy of the ship for all time.

                      About Premier Exhibitions

Premier Exhibitions, Inc. (Nasdaq:PRXI), located in Atlanta,
Georgia, is a foremost presenter of museum quality exhibitions
throughout the world.  Premier is a recognized leader in developing
and displaying unique exhibitions for education and entertainment
including Titanic: The Artifact Exhibition, BODIES...The
Exhibition, Tutankhamun: The Golden King and the Great Pharaohs,
Pompeii The Exhibition, Extreme Dinosaurs and Real Pirates in
partnership with National Geographic.  The success of Premier
Exhibitions, Inc. lies in its ability to produce, manage, and
market exhibitions.  Additional information about Premier
Exhibitions, Inc. is available at the Company's  Web site
http://www.PremierExhibitions.com/  

RMS Titanic and seven of its subsidiaries filed voluntary petitions
for reorganization under Chapter 11 of the Bankruptcy Code in the
U.S. Bankruptcy Court for the Middle District of Florida (Bankr.
M.D. Fla. Proposed Lead Case No. 16-02230) on June 14, 2016.  Chief
Financial Officer and Chief Operating Officer Michael J. Little
signed the petitions.

The Debtors estimated both assets and liabilities in the range of
$10 million to $50 million.

The Chapter 11 cases are assigned to Judge Paul M. Glenn.


RAILROAD SALVAGE: Taps Sader Law Firm as Legal Counsel
------------------------------------------------------
Railroad Salvage & Restoration, Inc. seeks approval from the U.S.
Bankruptcy Court for the Western District of Missouri to hire The
Sader Law Firm as its legal counsel.

Railroad Salvage tapped the firm to:

     (a) give advice about its rights and obligations as debtor-
         in-possession;

     (b) prepare legal papers;

     (c) represent the Debtor at the meeting of creditors and
         court hearings on approval of plan of reorganization and
         disclosure statement;

     (d) represent the Debtor in adversary proceedings and other
         contested bankruptcy matters; and,

     (e) represent the Debtor in matters related to its
         reorganization and business operations.

Neil Sader and Bradley McCormack, the attorneys who will assist the
Debtor during its bankruptcy, will be paid $330 per hour and $305
per hour, respectively.  The hourly rate of paralegals who may
assist them is $105.

Aside from professional fees, the firm will also receive
reimbursement for work-related expenses.

In a court filing, Messrs. Sader and McCormack disclosed that the
firm is "disinterested" as defined in section 101(14) of the
Bankruptcy Code.

The Sader Law Firm can be reached through:

     Bradley D. McCormack
     The Sader Law Firm
     2345 Grand Boulevard, Suite 2150
     Kansas City, MO 64108
     Tel: 816-561-1818
     Direct Dial: 816-595-1802
     Fax: 816-561-0818
     Email: bmccormack@saderlawfirm.com

                        About Railroad Salvage

Railroad Salvage & Restoration, Inc. sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. W. D. Mo. Case No.
16-30292) on June 14, 2016.  The petition was signed by William
Ryan Jackson, vice-president.  

The case is assigned to Judge Cynthia A. Norton.

At the time of the filing, the Debtor estimated both its assets and
liabilities at $1 million to $10 million.


RAVAGO HOLDINGS: Moody's Assigns B1 CFR, Outlook Stable
-------------------------------------------------------
Moody's Investors Service assigned first time ratings to Ravago
Holdings America, Inc., including a B1 corporate family rating, a
B1-PD probability of default rating and a B2 rating to the proposed
$325 million Senior Secured Term Loan due 2023.  Proceeds from the
new debt will be used to refinance the existing
$300 million Senior Secured Term Loan due 2020, pay down the
revolver, and pay fees and expenses associated with the
transaction.  The transaction is expected to close in June 2016.
The rating outlook is stable.

Moody's took these actions:

Ravago Holdings America, Inc.

   -- Assigned corporate family rating, B1
   -- Assigned probability of default rating, B1-PD
   -- Assigned $325 million Senior Secured Term Loan B due 2023,
      B2 (LGD4)
The rating outlook is stable.

The ratings are subject to the receipt and review of the final
documentation.

RATINGS RATIONALE

Ravago's B1 rating reflects its moderate leverage, good operating
cash flows, and relatively strong position in the polymer
distribution business.  Its large and diverse distribution network
in North America and Latin America, promising industry fundamentals
due to the feedstock advantage of North American ethylene
producers, its established and relatively stable market share, and
long-lived diverse customer and supplier relationships also support
our view of the company's relatively strong business position.
Ravago also has low capex requirements and good liquidity.

The rating is tempered by the low margin nature of the distribution
business.  While operating cash flow generation is favorable,
working capital swings can be a meaningful use of cash and impact
free cash flows.  Additionally, the company does pursue growth
through acquisitions in order to add customers and expand its
markets, however these transactions are typically of a small
bolt-on size.

Ravago has good liquidity to support operations.  Moody's expects
the company will generate flat to positive free cash flow on an
annual basis with substantial access to revolving credit to cover
any unforeseen shortfalls, that could arise from swings in working
capital.  The company reported $354 million of borrowings against
its $870 million asset-based revolving credit facility and, after
considering the impact of letters of credit and collateral
restrictions, nearly $500 million of availability at March 31,
2016.  The ABL credit agreement has a springing fixed charge
coverage ratio set at 1.1x if availability falls below 15% of the
commitment, which is not projected.  Moody's expects that the
company will not subject to the springing financial covenant over
the next two years.  Following the close of the refinancing, Ravago
will have extended the revolver's maturity to June 2021. The new
$325 million term loan due 2023 is expected to be covenant light.
Ravago does not have a history of paying dividends even though its
business model requires low capex spending.  While bolt-on
acquisitions could raise leverage temporarily, Moody's expects the
transactions to be small and accretive.

The stable outlook assumes that the company will continue to
achieve credit metrics appropriate for the rating, including
adjusted financial leverage below 4.5x, and that the company will
maintain a good liquidity position.  The outlook also factors in
the company's growth through bolt-on acquisitions that are expected
to be relatively small and accretive to earnings.

Moody's could upgrade the rating, if the company continues to grow
and realizes leverage (Debt/EBITDA) sustainably below 4.0x and
retained cash flow to debt (RCF/Debt) sustainably above 12%.
Conversely, Moody's could downgrade the rating if leverage was
sustained above 5.5x (Debt/EBITDA), RCF/Debt fell and remained
below 8%, or if there was a substantive deterioration in
liquidity.

The principal methodology used in these ratings was Global Chemical
Industry Rating Methodology published in December 2013.

Headquartered in Orlando, Florida, Ravago Holdings America, Inc. is
a distributer and reseller of polymers and rubber in North America
and Latin America.  The company operates in two main segments,
distribution and resale, with the remainder generated through third
party sales.  Ravago had revenues of approximately $3.8 billion for
the twelve months ended March 31, 2016, and is a subsidiary of
Ravago SA.


RESPONSE BIOMEDICAL: Enters Into Going Private Transaction
----------------------------------------------------------
Response Biomedical Corp. has entered into a definitive arrangement
agreement with 1077801 B.C. Ltd., a company owned by OrbiMed Asia
Partners, LP, OrbiMed Private Investments III, LP and OrbiMed
Associates III, LP and Shanghai Runda Medical Technology Co., Ltd.,
pursuant to which 1077801 B.C. Ltd. will acquire all of the issued
and outstanding common shares of Response for cash consideration of
$1.12 per Response Share (except in the case of certain rollover
shareholders who will instead receive shares of 1077801 B.C. Ltd.
on a 1 for 1 basis) by way of a statutory plan of arrangement under
the Business Corporations Act (British Columbia).  The cash
consideration price represents a 51% premium to the closing price
of the Response Shares on the Toronto Stock Exchange on June 15,
2016, the date prior to the date of signing of the Arrangement
Agreement.  OrbiMed Advisors LLC, an investment management firm
focused on the healthcare sector, and its affiliates currently own
4,970,543 Response Shares, representing 50.1% of the issued and
outstanding Response Shares, based on 9,925,256 Response Shares
outstanding.

The board of directors of Response formed a committee of
independent directors to, among other things, review and evaluate
the terms of the proposed acquisition and other alternatives, and
to make a recommendation to the Board in respect of the Transaction
and other related matters.  Bloom Burton & Co. Limited, the
financial advisor to the Special Committee, has provided a fairness
opinion and formal valuation and concluded that, subject to the
assumptions and limitations set out therein, the consideration to
be received by holders of Response Shares  pursuant to the
Transaction is fair, from a financial point of view, to those
Shareholders.

Following an extensive review and analysis of the Transaction and
the consideration of other alternatives, the Fairness Opinion and
Formal Valuation and the recommendations of the Special Committee,
the Board, after consulting with its financial and legal advisors,
unanimously determined that the consideration to be received by the
Shareholders pursuant to the Transaction is fair to such
Shareholders and that the Transaction is in the best interests of
Response.  The Board has approved the terms of the Transaction and
unanimously recommends that all Shareholders vote in favour of the
Transaction at the special Shareholders' meeting to be called to
consider the Transaction.

"We believe that the Arrangement serves the best interests of our
shareholders, employees, customers and business and we look forward
to working towards its successful completion," said Dr. Barbara
Kinnaird, Response's chief executive officer.  "The existing
Canada-led governance structure and the Canadian operations will be
preserved.  Runda's strong sales and marketing presence throughout
China and their financial strength provide an exceptionally
attractive opportunity to combine with Response's product
portfolio.  The transaction will provide the China sales expertise
and financial resources to best help Response achieve its full
potential," added Dr. Kinnaird.

In connection with the Arrangement Agreement, all directors and
officers of the Company, who in the aggregate own 305,747 Response
Shares representing 3.1% of the issued and outstanding Response
Shares, based on 9,925,256 Response Shares outstanding, and 1077801
B.C. Ltd. have entered into customary voting agreements to vote in
favour of the Arrangement.

                 The Arrangement and Approvals

Pursuant to the Arrangement, each Shareholder will receive cash
consideration of $1.12 for each Response Share held.  All currently
outstanding stock options to purchase Response Shares  will be
deemed to be unconditionally vested and exercisable and be deemed
to be assigned, transferred and disposed of to the Company in
exchange for a cash payment from the Company equal to the amount
(if any) by which the consideration exceeds the exercise price per
Response Share issuable pursuant to the Options.  The Options shall
subsequently be immediately cancelled pursuant to the Arrangement.
All outstanding Deferred Share Units and Restricted Share Units
will be paid out in common shares of Response which will then be
acquired for cash in the Arrangement.

The Transaction contains customary deal protection provisions
which, among other matters, restrict Response from soliciting,
assisting, initiating, encouraging or facilitating any inquiry,
proposal, or offer concerning alternative acquisition proposals.
However, the Transaction permits Response to respond to unsolicited
written acquisition proposals under certain circumstances which
include where such acquisition proposal constitutes or could
reasonably constitute or lead to a "superior proposal" (as defined
in the Arrangement Agreement). 1077801 B.C. Ltd. has the right to
match any competing proposal for Response in the event a superior
proposal is made.  No termination fee is payable by either party.

The Transaction is subject to customary approvals, including, but
not limited to, the approval of at least 66 2/3% of the votes cast
in person or by proxy at the Special Meeting, and the approval of a
"majority of the minority" of the Shareholders being a majority of
the votes cast in person or by proxy at the Special Meeting
excluding shareholders whose votes may not be included in
determining if minority approval is obtained pursuant to
Multilateral Instrument 61-101 - Protection of Minority Security
Holders in Special Transactions.  In addition, the information
circular prepared in connection with the Special Meeting is subject
to review by the U.S. Securities Exchange Commission.  The Special
Meeting is expected to be held on or before Oct. 17, 2016.

Closing of the Transaction is also subject to the satisfaction of a
number of conditions customary for transactions of this nature,
including the receipt of certain regulatory, court and stock
exchange approvals.  In addition, the Transaction will be subject
to approval in the Peoples Republic of China from the National
Development and Reform Commission, the Ministry of Commerce, and
the State Administration of Foreign Exchange.

Further information regarding the Arrangement will be contained in
the information circular that Response will prepare, file and send
to each Shareholder in connection with the Special Meeting.

Following closing of the Transaction, the Company will apply to
have the Response Shares de-listed from the TSX.

A copy of the Arrangement Agreement will be filed on Response's
SEDAR profile and will be available for viewing at
http://www.sedar.com/

                      Private Placement

Concurrent with the signing of the Arrangement Agreement, Response
entered into subscription agreements to undertake a non-brokered
private placement financing of up to 1,785,716 common shares of the
Company at a price of U.S. $0.56 per Response Share for total gross
proceeds of approximately U.S. $1,000,000.  Pursuant to the Private
Placement, Response has entered into subscription agreements with
OrbiMed, where OrbiMed funds will subscribe for 892,858 Response
Shares for total gross proceeds to the Company of approximately
U.S. $500,000, and with Runda where Runda will subscribe for
892,858 Response Shares for total gross proceeds to the Company of
approximately U.S. $500,000.

The closing of the Private Placement will be subject to satisfying
all of the requirements of the TSX and other conditions typical for
a transaction of this nature.  The first closing date for the
Private Placement is expected to occur in June 2016 or such other
date as the Company may determine.  The Company intends to use the
net proceeds of the Private Placement to fund research and
development and operating expenses and for general working capital
purposes.

The Private Placement will be made on a non-brokered private
placement basis, exempt from prospectus and registration
requirements of applicable securities laws.  The securities issued
pursuant to the Private Placement will be subject to resale
restrictions under applicable securities laws.

As OrbiMed is an insider of the Company, the Private Placement is
a "related party transaction", as defined under MI 61-101.  The
Company has relied on the exemptions contained in sections 5.5(a)
and 5.7(1)(a) of MI 61-101 from the valuation and minority
shareholder approval requirements of MI 61-101 in respect of
OrbiMed's participation in the Private Placement because the
aggregate fair market value of the Response Shares purchased by
OrbiMed is less than 25% of the Company's market capitalization.  A
material change report in respect of the Private Placement will be
filed in accordance with MI 61-101.

                         Advisors

Bloom Burton & Co. Limited is acting as exclusive financial advisor
to Response. Blake, Cassels & Graydon LLP and Wilson Sonsini
Goodrich & Rosati, P.C. are acting as legal counsel to Response.
Stikeman Elliott LLP is acting as legal counsel to OrbiMed and
Runda.

                   About Response Biomedical
  
Based in Vancouver, Canada, Response Biomedical Corporation
develops, manufactures and sells diagnostic tests for use with its
proprietary RAMP(R) System, a portable fluorescence immunoassay-
based diagnostic testing platform.  The RAMP(R) technology
utilizes a unique method to account for sources of error inherent
in conventional lateral flow immunoassay technologies, thereby
providing the ability to quickly and accurately detect and
quantify an analyte present in a liquid sample.  Consequently, an
end-user on-site or in a point-of-care setting can rapidly obtain
important diagnostic information.  Response Biomedical currently
has thirteen tests available for clinical and environmental
testing applications and the Company has plans to commercialize
additional tests.

Response Biomedical reported a net loss of C$150,000 on C$15.41
million of total revenue for the year ended Dec. 31, 2015, compared
to a net loss of C$2.09 million on C$11.01 million of total revenue
for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Response had C$11.8 million in total assets,
C$12.5 million in total liabilities, and a total shareholders'
deficit of C$711,000.

PricewaterhouseCoopers LLP, in Vancouver, Canada, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the company has incurred
recurring losses from operations and has an accumulated deficit at
Dec. 31, 2015, that raises substantial doubt about its ability to
continue as a going concern.


RESPONSE BIOMEDICAL: OrbiMed Advisors Has 42.6% Stake as of June 16
-------------------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, OrbiMed Advisors LLC disclosed that as of
June 16, 2016, it beneficially owns 6,000,328 shares of common
stock of Response Biomedical Corp. representing 42.6 percent of the
shares outstanding.  Also included in the filing are OrbiMed
Advisors Limited (3,547,498 shares); OrbiMed Asia GP, L.P.
(3,547,498 shares); OrbiMed Capital GP III LLC (5,943,771 shares);
and Samuel D. Isaly (6,000,328 shares).

Pursuant to its authority under the limited partnership agreement
of OrbiMed Private Investments III, LP, on June 16, 2016, OrbiMed
Capital, as general partner of OPI III, caused OPI III to purchase
an aggregate of 5,268 Shares at a price of USD$0.56 per Share,
using OPI III's working capital in the aggregate amount of
approximately USD$2,950.

Pursuant to its authority under the limited partnership agreement
of OrbiMed Asia Partners, L.P., on June 16, 2016, OrbiMed Asia
caused OAP to purchase an aggregate of 331,690 Shares at a price of
USD$0.56 per Share using OAP's working capital in the aggregate
amount of approximately USD$185,746.  Such authority is exercised
through OrbiMed Limited as the sole general partner of OrbiMed
Asia, which is the sole general partner of OAP.

Pursuant to its authority under the limited partnership agreement
of OrbiMed Associates III, LP on June 16, 2016, OrbiMed Advisors,
as general partner of OrbiMed Associates, caused OrbiMed Associates
to purchase an aggregate of 555,900 Shares at a price of USD$0.56
per Share using OrbiMed Associates' working capital in the
aggregate amount of approximately USD$311,304.

A copy of the regulatory filing is available for free at:

                    https://is.gd/J11AL8

                 About Response Biomedical
  
Based in Vancouver, Canada, Response Biomedical Corporation
develops, manufactures and sells diagnostic tests for use with its
proprietary RAMP(R) System, a portable fluorescence immunoassay-
based diagnostic testing platform.  The RAMP(R) technology
utilizes a unique method to account for sources of error inherent
in conventional lateral flow immunoassay technologies, thereby
providing the ability to quickly and accurately detect and
quantify an analyte present in a liquid sample.  Consequently, an
end-user on-site or in a point-of-care setting can rapidly obtain
important diagnostic information.  Response Biomedical currently
has thirteen tests available for clinical and environmental
testing applications and the Company has plans to commercialize
additional tests.

Response Biomedical reported a net loss of C$150,000 on C$15.41
million of total revenue for the year ended Dec. 31, 2015, compared
to a net loss of C$2.09 million on C$11.01 million of total revenue
for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Response had C$11.80 million in total assets,
C$12.51 million in total liabilities and a total shareholders'
deficit of C$711,000.

PricewaterhouseCoopers LLP, in Vancouver, Canada, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the company has incurred
recurring losses from operations and has an accumulated deficit at
Dec. 31, 2015, that raises substantial doubt about its ability to
continue as a going concern.


RICEBRAN TECHNOLOGIES: Asks Shareholders to Vote for All Nominees
-----------------------------------------------------------------
RiceBran Technologies announced that Institutional Shareholder
Services Inc., the nation's leading independent proxy advisory
firm, has issued a report recommending that RiceBran Technologies
shareholders vote on the WHITE proxy card "FOR" the election of all
the Company's director nominees -- W. John Short, Marco V. Galante,
David Goldman, Baruch Halpern, Henk W. Hoogenkamp, Robert C.
Schweitzer and Peter A. Woog -- at RiceBran Technologies' Annual
Meeting of Shareholders on June 22, 2016.

Robert C. Schweitzer, Chairman of RiceBran Technologies, said, "We
are pleased ISS supports the reelection of RiceBran Technologies'
highly-qualified and experienced director nominees.  ISS'
recommendation affirms our strong belief that RiceBran Technologies
has the right Board and leadership in place to continue to oversee
the successful execution of our clear plan to further drive high
performance and long-term profitable growth. Our efforts to
"convert feed to food" are yielding positive results and has
positioned the Company for continued growth in what we believe to
be the highest margin, fastest growing segments of the US food
market: natural, organic and functional foods."

In its report issued today, ISS* noted that:
   
* RiceBran's recent "...financial performance -- in 2015 versus
   2014, but particularly in Q1 2016 versus the same period in the
   prior year -- strongly suggests that the board's strategy is
   beginning to pay off...”

* "On balance, as the board's strategy seems to be beginning to
   demonstrate success, both in driving growth in the US and in
   capping further downside risk in Brazil..."

* "...both the executive team and the non-executive directors
   have significant shareholdings...suggesting a powerful
   alignment of interests with unaffiliated shareholders..."

* "...there does not appear to be a compelling case that change
   at the board level is warranted."

* Permission neither sought nor obtained from ISS.

On June 16, 2016, RiceBran Technologies filed an investor
presentation, which was presented to ISS, with the U.S. Securities
and Exchange Commission highlighting the strategic actions the
Company's Board of Directors and management team have taken to over
the past several years to enhance shareholder value. Specifically,
the presentation outlines the Company's recent strong performance
as a result of focused and disciplined execution of its strategic
plan.  Furthermore, the presentation illustrates the strength and
depth of RiceBran Technologies' Board of Directors, including it
proven executive, financial and industry expertise.  The
presentation is available at www.ricebrantech.com and on the
SEC’s website at www.sec.gov.

As the Annual Meeting date is rapidly approaching, RiceBran
Technologies strongly urges shareholders to protect the value in
their investment by voting on the WHITE proxy card "FOR" the
Company's highly-qualified and experienced director nominees.
RiceBran Technologies also advises shareholders not return the
"gold" card, even to withhold on LF-RB Group's nominees.

If you have any questions or require any assistance with voting
your shares, or if you need additional copies of the proxy
materials, please contact:

   Morrow & Co.
   470 West Ave
   Stamford, CT 06902
   ricebran@morrowco.com
   Stockholders call toll free: 800-662-5200

   Banks and brokers call: 203-658-9400

                        About RiceBran

Scottsdale, Ariz.-based RiceBran Technologies, a California
corporation, is a human food ingredient and animal nutrition
company focused on the procurement, bio-refining and marketing of
numerous products derived from rice bran.

RiceBran reported a net loss of $10.6 million on $39.9 million of
revenues for the year ended Dec. 31, 2015, compared to a net loss
of $26.6 million on $40.10 million of revenues for the year ended
Dec. 31, 2014.

As of March 31, 2016, RiceBran had $34.9 million in total assets,
$26.9 million in total liabilities and $7.66 million in total
equity attributable to the Company's shareholders.

The Company's auditors Marcum LLP, in New York, NY, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has suffered
recurring losses from operations resulting in an accumulated
deficit of $251 million at December 31, 2015.  This factor among
other things, raises substantial doubt about its ability to
continue as a going concern.


RITA ORTIZ: Selling Brentwood Property for $1.41 Million
--------------------------------------------------------
Debtor Rita S. Ortiz asks the U.S. Bankruptcy Court for the
Northern District of California for real property located at and
commonly identified as 6337 Brentwood Boulevard, Brentwood, CA, to
Maria Elena Arroyo and Jose Angel Pena.  In the proposed
transaction, the bankruptcy estate will receive total consideration
of $1,412,500 in exchange for the Brentwood Property, consisting of
$1,000,000 in cash and a promissory note in amount of $412,500.

Rita S. Ortiz sought Chapter 11 protection (Bankr. N.D. Cal. Case
No. 15-42480) on Aug. 10, 2015.

Attorney for debtor Rita S. Ortiz:

         Stephen D. Finestone
         John F. Sullivan
         LAW OFFICES OF STEPHEN D. FINESTONE
         456 Montgomery Street, 20th Floor
         San Francisco, CA 94104
         Telephone: (415) 421-2624
         Facsimile: (415) 398-2820
         E-mail: sfinestone@pobox.com


ROCKIES EXPRESS: Moody's Affirms Ba2 CFR, Outlook Stable
--------------------------------------------------------
Moody's Investors Service changed Rockies Express Pipeline LLC's
(REX) outlook to stable from positive and affirmed the Ba2
Corporate Family Rating, Ba2-PD Probability of Default Rating
(PDR), and the Ba2 senior unsecured notes ratings.  The Speculative
Grade Liquidity (SGL) Rating was withdrawn.

"REX's outlook change reflects the increased counterparty credit
risk due to significant stress in the exploration and production
(E&P) sector and the uncertain outlook on west-to-east gas flows
from the Rockies.  Although Encana's contract extension is credit
positive longer term, weaker credit quality of the east-to-west
customers and the continued uncertainty in re-contracting a
significant portion of the west-to-east capacity post-2019
constrain REX's rating at Ba2," commented Sreedhar Kona, Moody's
senior analyst.  "REX's moderate leverage, its firm transportation
contracts and its position as a key northern header system support
the Ba2 rating and the stable outlook."

Affirmations:

Issuer: Rockies Express Pipeline LLC

  Corporate Family Rating, Affirmed Ba2
  Probability of Default Rating, Affirmed Ba2-PD
  Senior Unsecured Regular Bond/Debenture, Affirmed Ba2 (LGD4)

Withdrawals:

Issuer: Rockies Express Pipeline LLC

  Speculative Grade Liquidity Rating, Withdrawn

Outlook Actions:

Issuer: Rockies Express Pipeline LLC

  Outlook, Changed to Stable from Positive

RATINGS RATIONALE

The stable outlook reflects Moody's expectation that the company's
leverage will fluctuate in a range supportive of the current rating
over the next three years as the effects of lower rates from
Encana, increased earnings potential from additional capacity, and
west-to-east gas flow contracts approach expiration.

The Ba2 CFR for REX is supported by access to large natural gas
supply basins in the Rocky Mountain and the Appalachian regions,
multiple interconnections with long haul pipelines serving the
Midwest and Northeast, and long-term firm transportation contracts.
REX has moderate leverage with its debt/EBITDA ratio measuring
4.0x as of March 31, 2016.  Moody's anticipates that the declining
leverage trend will reverse during the remainder of 2016 as lower
rates from the Encana contract extension reduce revenues. REX
should benefit from the east-to-west capacity expansion project
expected to be completed in 2016, resulting in leverage returning
to the low-to-mid 4x range by the end of 2017.  Further reduction
in leverage will be contingent upon REX's repayment of the debt
maturities in 2018 and 2019.  However, the expiration of most of
the west-to-east contracts in 2019 could cause the leverage to rise
significantly in 2020, thereby constraining REX's ratings.  REX's
ratings reflect its customer base which is almost entirely
comprised of E&P companies, or 'supply-push' customers, that are
directly exposed to commodity prices.  Additionally, REX's ratings
are tempered by the average credit quality of the customer
base--specifically, the east-to-west customers.

Moody's anticipates REX will maintain an adequate liquidity profile
through mid-2017.  As of March 31, 2016, the company had a cash
balance of $86 million and an undrawn $150 million senior unsecured
revolving credit facility maturing in January 2020. Based on
capital expenditure guidance, Moody's expects REX will generate
positive free cash flow before dividends.  REX's limited liability
company agreement provides that cash in excess of operational needs
be distributed to owners.  This provision results in a certain
degree of reliance on capital contributions from owners as was the
case for the repayment of $450 million in bonds in April 2015.  The
revolving credit facility contains one financial covenant
consisting of a maximum debt/EBITDA ratio currently set at 5.0x.
Moody's expects the company will remain in compliance with this
covenant looking out to mid-2017.  The nearest debt maturity is the
$550 million of senior notes due in July 2018.

An unexpected increase in financial leverage or a meaningful
decrease in interest coverage could lead to a ratings downgrade.
Debt/EBITDA sustained above 5x or significant deterioration in
customer credit quality could also result in downgrade.

Factors that could support a higher rating include debt/EBITDA
sustained below 4x with a significant portion of west to east
capacity re-contracted post 2019 and good liquidity.

The principal methodology used in these ratings was Natural Gas
Pipelines published in November 2012.

REX owns a 1,712 mile natural gas pipeline system that reaches from
the Rocky Mountains area of Wyoming and Colorado to Ohio.  REX is
owned 50% by Rockies Express Holdings, LLC, and a subsidiary of
Tallgrass Development, LP (TDEV), 25% by Tallgrass Energy Partners
(TEP), and 25% by P66REX LLC, a subsidiary of Phillips 66 (A3
stable).  TDEV acquired its 50% stake in REX during 2012 and
operates the pipeline on behalf of the consortium of owners.  TEP
acquired its 25% stake in REX in May 2016 from Sempra Energy.
Collectively, the Tallgrass entities have a 75% ownership stake in
REX.


RUFINO GALARZA: Aug. 25 Plan Confirmation Hearing
-------------------------------------------------
Judge Karen K. Specie of the U.S. Bankruptcy Court for the Northern
District of Florida, Panama City Division, issued an order
conditionally approving the disclosure statement explaining Rufino
Galarza and Maria N. Galarza's plan of reorganization.

August 18, 2016, is fixed as the last day for filing and serving
written objections to the disclosure statement, and is fixed as the
last day for filing acceptances or rejections of the plan, in
accordance with Rules 3017(a) and 3017(c).

A confirmation hearing will be held at U.S. Courthouse, 30 W.
Government Street, Panama City, FL on August 25, 2016 at 10:00 AM,
Central Time.

Objections to confirmation must be filed and served seven days
before the confirmation hearing date.

Rufino Galarza and Maria N. Galarza (Bankr. N.D. Fla. Case No.
15-50362) filed a Chapter 11 Petition on October 26, 2015.


SARATOGA RESOURCES: July 19 Hearing on Disclosure Statement
-----------------------------------------------------------
Saratoga Resources, Inc. (otc pink market:SARAQ) on June 21, 2016,
disclosed that it has filed a Notice of Hearing on Approval of
Adequacy of Disclosure Statement for Joint Chapter 11 Plan of
Reorganization.

As reflected in the Notice of Hearing, Saratoga, and its
subsidiaries, on June 13, 2016, filed a Joint Chapter 11 Plan of
Reorganization (the "Plan") and a Disclosure Statement (the
"Disclosure Statement").  By order dated June 15, 2016, a hearing
for consideration of the adequacy of the Disclosure Statement has
been scheduled for July 19, 2016 at 10:00 a.m. at the U.S.
Bankruptcy Court, Western District of Louisiana, 214 Jefferson
Street, Suite 100, Lafayette, Louisiana (the "Bankruptcy Court")
and July 12, 2016 has been set as the last day to file objections
to the Disclosure Statement.  The Plan and Disclosure Statement are
on file and available for review at the Office of the Clerk of
Court at the Bankruptcy Court at the above address and on the
Court's website www.lawb.uscourts.gov

Copies of the Plan and Disclosure Statement are also available
without cost at http://hellerdraper.com/harvest/or upon written
request from Heller, Draper, Patrick, Horn & Dabney, L.L.C., Attn:
Cherie Nobles, 650 Poydras Street, Suite 2500, New Orleans,
Louisiana 70130-6103, (504) 299-3300 or cnobles@hellerdraper.com.

Saratoga also filed a Motion for Relief from Bankruptcy Rule
2002(d) (the "Motion for Relief") which seeks relief from the
requirement of Bankruptcy Rule 2002(d) that a debtor provide notice
to all equity security holders of, among other things, the time
fixed for filing objections to and the hearing to consider approval
of a disclosure statement, the time fixed for filing objections to
and the hearing to consideration confirmation of a plan of
reorganization and the time fixed to accept or reject a proposed
modification of a plan.

                     About Saratoga Resources

Saratoga Resources -- http://www.saratogaresources.com/-- is an  
independent exploration and production company with offices in
Houston, Texas and Covington, Louisiana.  Principal holdings cover
approximately 51,500 gross/net acres, mostly held by production,
located in the transitional coastline and protected in-bay
environment on parish and state leases of south Louisiana and in
the shallow Gulf of Mexico Shelf.  Most of the company's large
drilling inventory has multiple pay objectives that range from as
shallow as 1,000 feet to the ultra-deep prospects below 20,000 feet
in water depths ranging from less than 10 feet to a maximum of
approximately 80 feet.  Saratoga Resources, Inc., Harvest Oil &
Gas, LLC, and their affiliated debtors sought protection under
Chapter 11 of the
Bankruptcy Code on June 18, 2015.  The lead case is In re Harvest
Oil & Gas, LLC, Case No. 15-50748 (Bankr. W.D. La.).

The Debtors are represented by William H. Patrick, III, Esq., at
Heller, Draper, Patrick, Horn & Dabney, LLC, in New Orleans,
Louisiana.


SERVICEMASTER COMPANY: Moody's Raises CFR to Ba3, Outlook Positive
------------------------------------------------------------------
Moody's Investors Service upgraded The Servicemaster Company, LLC's
Corporate Family rating to Ba3 from B1, the Probability of Default
rating to Ba3-PD from B1-PD, senior secured bank debt to Ba3 from
B1 and the senior unsecured to B2 from B3.  The Speculative Grade
Liquidity rating was affirmed at SGL-1. The ratings outlook remains
positive.

Upgrades:

Issuer: ServiceMaster Company, LLC (The)
  Corporate Family Rating, Upgraded to Ba3 from B1
  Probability of Default Rating, Upgraded to Ba3-PD from B1-PD
  Senior Secured Bank Credit Facility, Upgraded to Ba3 (LGD3) from

   B1 (LGD3)

Issuer: ServiceMaster Company (The) (Old)
  Backed Senior Unsecured Regular Bond/Debenture, Upgraded to B2
   (LGD6) from B3 (LGD6)

Issuer: ServiceMaster Company LimitedPartnership(The)
  Backed Senior Unsecured Regular Bond/Debenture, Upgraded to B2
   (LGD6) from B3 (LGD6)

Affirmations:

Issuer: ServiceMaster Company, LLC (The)
  Speculative Grade Liquidity Rating, Affirmed at SGL-1

Outlook:

Issuer: ServiceMaster Company, LLC (The)
  Outlook, Remains Positive

                         RATINGS RATIONALE

ServiceMaster's Ba3 CFR reflects Moody's expectations for about 5%
revenue growth, steady low 20s% EBITA margins and debt to EBITDA to
decline to around 4 times by the end of 2017.  ServiceMaster has
solid market positions and scale in two business segments (pest
control and home warranty policies).  Customer retention rates of
approaching 80% make revenues predictable.  Revenues at the
Terminix division are somewhat seasonal.  Disciplined cost
management, new products at Terminix, new contract sales at
American Home Shield (AHS) and a history of steady price increases
lead us to anticipate steady revenue growth.  Investments in new
product development, marketing and information technology could
limit near-term profit margin and free cash flow expansion.
Liquidity from over $200 million of cash, expectations of at least
$300 million of free cash flow and at least $150 million available
under the $300 million revolver is considered very good.

The positive ratings outlook reflects Moody's anticipation of
accelerated profit and free cash flow growth driven by current
infrastructure and information technology investments.  The
positive outlook also anticipates that further debt reduction may
be slowed by acquisitions or shareholder returns.  Higher ratings
are possible if Moody's comes to expect: 1) debt to EBITDA will
remain below 4 times; 2) free cash flow to debt above 12%; and 3)
balanced financial policies.  A downgrade is possible if Moody's
comes to expect: 1) debt to EBITDA will remain above 5 times; 2)
free cash flow to debt below 8%; or 3) more aggressive financial
policies.

The principal methodology used in these ratings was Business and
Consumer Service Industry published in December 2014.

ServiceMaster is a national provider of products and services
(termite and pest control, home service contracts, cleaning and
disaster restoration, house cleaning, furniture repair and home
inspection), through company-owned operations and franchise
licenses.  Brands include: Terminix, American Home Shield (AHS),
ServiceMaster Clean, Merry Maids, Furniture Medic and AmeriSpec.
Moody's expects 2016 revenues of over $2.7 billion.


SFX ENTERTAINMENT: Court OKs Exclusivity Extension Thru Aug. 29
---------------------------------------------------------------
BankruptcyData.com reported that the U.S. Bankruptcy Court approved
SFX Entertainment's motion to extend the exclusive period during
which the Company can file a Chapter 11 plan and solicit
acceptances thereof through and including August 29, 2016 and
October 28, 2016, respectively.  As previously reported, "Since the
Petition Date, almost four months ago, the Debtors focused their
efforts on stabilizing their domestic operations and the open
issues surrounding their foreign subsidiaries' operations. The
Debtors expended significant resources in negotiating with artists,
entering into critical vendor agreements, and promoting and
producing the Debtors' larger events and festivals that are held in
the summer.  The actions taken by the Debtors in the early stages
of these Chapter 11 Cases laid the groundwork for the Debtors to
minimize the impact these Chapter 11 Cases may have had on the
Debtors' festivals and events.  Additionally, the Debtors developed
and began to implement a business plan to reduce overhead expenses
and began to resolve the various disputes affecting the Debtors'
operations and estates. All of these issues will influence the
Debtors' exit strategy for these Chapter 11 Cases and make it
premature for the Debtors to have fully developed the terms of a
plan of reorganization.  Allowing the Exclusive Periods to
terminate before plan negotiations and preparation have concluded
would defeat the purpose of section 1121 of the Bankruptcy Code -
to afford the Debtors a meaningful and reasonable opportunity to
propose and confirm a consensual plan of reorganization."

                     About SFX Entertainment

SFX Entertainment, Inc., and 43 of its affiliates, a global
producer of live events and digital entertainment content focused
exclusively on the electronic music culture and other world-class
festivals, filed Chapter 11 bankruptcy petitions (Bankr. D. Del.
Case Nos. 16-10238 to 16-10281) on Feb. 1, 2016.  The petitions
were signed by Michael Katzenstein as chief restructuring officer.

The Debtors disclosed total assets of $662 million and total debt
of $490 million.

Judge Mary F. Walrath is assigned to the case.


SHEEHAN PIPE LINE: Court Sets Sept. 9 as General Claims Bar Date
----------------------------------------------------------------
The Hon. Terrence L. Michael of the U.S. Bankruptcy Court for the
Northern District of Oklahoma granted the request of Sheehan Pipe
Line Construction Company to establish deadlines by which proofs of
claim based on prepetition debts or liabilities against any of the
Debtors must be filed.

The Court set:

   (a) September 9, 2016, as the General Bar Date; and

   (b) October 12, 2016, as the Governmental Bar Date.
   
Judge Michael also approved the Debtor's proposed Proof of Claim
Form, Bar Date Notice and Publication Notice, and notice and
publication procedures.

                    About Sheehan Pipe Line

Sheehan Pipe Line Construction Company, a contractor that
constructs pipelines in various states across the country, filed a
voluntary petition for relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Okla. Case No. 16-10678) on April 15,
2016, listing total assets of $90.2 million and total debt of $68.4
million.   

The petition was signed by Robert A. Riess, Sr., as president and
CEO. McDonald, McCann & Metcalf & Carwile, LLP, serves as counsel
to the Debtor.  The case is pending before Judge Terrence L.
Michael.



SILICON ALLEY: Seeks to Hire Kasuri Byck as Legal Counsel
---------------------------------------------------------
Silicon Alley Group, Inc. seeks approval from the U.S. Bankruptcy
Court for the District of New Jersey to hire Kasuri Byck, LLC as
its legal counsel.

Kasuri Byck will provide legal services to the Debtor in connection
with its Chapter 11 case.  These services include negotiating with
its creditors and assisting the Debtor in fulfilling the
debtor-in-possession reporting requirements.

The firm received a $10,000 flat fee for its services, which was
paid in full prior to the filing of the Chapter 11 petition.

Harrison Ross Byck, Esq., disclosed in a court filing that the firm
is "disinterested" as defined in section 101(14) of the Bankruptcy
Code.

Kasuri Byck can be reached through:

     Harrison Ross Byck, Esq.
     Kasuri Byck, LLC
     340 Route 1 North
     Edison, NJ 08817
     732-253-7630 (ph)
     732-253-7632 (fax)

                       About Silicon Alley

Silicon Alley Group Inc. filed a voluntary chapter 11 petition
(Bankr. D. N.J. Case No. 16-18244) on Apr. 28, 2016, and is
represented by Harrison Ross Byck, Esq., at Kauri Byck, LLC, in
Edison, N.J.  At the time of the filing, the Debtor estimated its
assets at less than $50,000 and its liabilities exceeding $1
million.


SKAGIT GARDENS: Sec. 341 Meeting of Creditors on July 12
--------------------------------------------------------
The meeting of creditors under 11 U.S.C. Sec. 341 in the Chapter 11
cases of Skagit Gardens, Inc., and its affiliated debtors will be
held on July 12, 2016, at 1:30 p.m.

The meeting was originally set for July 6.

The meeting will take place at US Courthouse, Room 4107.

The court overseeing the bankruptcy case of a company schedules the
meeting of creditors usually about 30 days after the bankruptcy
petition is filed. The meeting is called the "341 meeting" after
the section of the Bankruptcy Code that requires it.

A representative of the company is required to appear at the
meeting and answer questions under oath. The meeting is presided
over by the U.S. trustee, the Justice Department's bankruptcy
watchdog.

                      About Skagit Gardens

Skagit Gardens Inc. and three affiliates filed Chapter 11 petitions
(Bankr. W.D. Wash., Proposed Lead Case No. 16-12879) on May 27,
2016. The company is a wholesale nursery that grows two categories
of plants, finished plants and plugs/liners, each grown for
different types of customers. The petitions were signed by Mark
Buchholz as president.

The Debtors listed total assets of $12.5 million and total
liabilities of $19.3 million.

The Debtors are represented by Bush Kornfeld LLP, in Seattle,
Washington, as counsel.

The cases are assigned to Judge Christopher M. Alston.


SOUTHCROSS HOLDINGS: S&P Assigns 'CCC+' CCR, Outlook Stable
-----------------------------------------------------------
S&P Global Ratings assigned its 'CCC+' corporate credit rating to
Southcross Holdings Borrower L.P.  The outlook is stable.

S&P assigned its 'CCC+' issue-level rating and '4' recovery rating
to the partnership's senior secured debt.  The '4' recovery rating
indicates S&P's expectation lenders can expect average (30%-50%;
lower half of the range) recovery in the event of a payment
default.

"Our 'CCC+' corporate credit rating reflects our assessment of a
vulnerable business risk profile and highly leveraged financial
risk profile," said S&P Global Ratings credit analyst Mike Llanos.
The partnership recently emerged from bankruptcy protection, which
allowed the partnership to eliminate over $700 million of funded
debt and preferred equity in addition to providing an equity
investment from certain equity holders.  This significantly
improves the capital structure and bolsters near-term liquidity. In
our view, recent operational issues, some of which have been
outside the control of the partnership, will lead to leverage
measures that are unsustainable at year-end.  S&P is looking
through year-end 2016 and forecast credit measures to improve in
2017.  S&P believes improved credit measures are dependent on a
rise in commodity prices, which would likely lead to increased
volumes across the asset base.

The stable outlook reflects S&P's view the recent restructuring has
improved the partnership's liquidity and capital structure
resulting in adjusted leverage in excess of 10x in 2016 and above
6x in 2017.

S&P could lower the rating if Holdings' liquidity becomes
constrained such that S&P would expect either a default or a
distressed debt exchange within 12 months.  This could occur if
commodity prices deteriorate further or if the partnership
experiences operational underperformance such that it exhausts its
liquidity.

S&P could consider higher ratings if commodity prices improve such
that it would expect leverage to be sustained below 7x.


SOUTHWIRE COMPANY: Moody's Raises CFR to Ba1, Outlook Stable
------------------------------------------------------------
Moody's Investors Service upgraded the Corporate Family Rating of
Southwire Company, LLC to Ba1 from Ba2, the Probability of Default
Rating to Ba1-PD from Ba2-PD and senior secured term loan to Ba2
from Ba3.  The rating outlook is stable.

These rating actions were taken:

Issuer: Southwire Company, LLC

  Corporate Family Rating, upgraded to Ba1 from Ba2;
  Probability of Default, upgraded to Ba1-PD from Ba2-PD;
  Senior secured term loan, upgraded Ba2 (LGD5) from Ba3 (LGD5);

The rating outlook is stable.

                        RATINGS RATIONALE

The ratings upgrade reflects continued improvement in Southwire's
financial ratios resulting from debt reduction and improved
operating performance.  The company's adjusted EBITA margin
increased approximately 100 basis points for the twelve months
ended March 31, 2016 from year-end 2014.  Adjusted debt-to-EBITDA
has improved over the same period, declining to 2.4x from 3.0x. The
stable outlook incorporates our expectation that Southwire will
experience positive volume growth supported by a modestly improving
economic environment in the United States and that the company will
maintain adjusted debt-to-EBITDA below 3.0x even as Southwire
executes its growth strategy.

The Ba1 Corporate Family Rating reflects Southwire's scale and
market position as one of the leading global manufacturers of
electrical wire and cable products, solid credit metrics, free cash
flow generation, relatively conservative financial policies and
moderate end market diversification.  At the same time, the Ba1
rating reflects the cyclical nature of the company's business and
relative lack of product differentiation within the wire and cable
manufacturing industry.  The rating further incorporates
Southwire's exposure to volatile raw material prices, lack of
geographic diversity relative to some large, global peers and the
resultant over-dependence on economic conditions within North
America.  The company has demonstrated its commitment to a
conservative capital structure through debt repayments.  Moody's
expects that Southwire will continue to grow through moderately
leveraged acquisitions.

The ratings could be upgraded if Southwire grows its revenue
comfortably above $5 billion and improves adjusted EBITA margin to
approximately 10%, while further diversifying its products offering
and geographic reach.  Maintaining very good liquidity, employing
conservative financial policies, with a primarily unsecured capital
structure, and consistently generating strong free cash flow would
also be positive for the rating.  Finally, if the company reduces
and maintains adjusted debt-to-EBITDA below 2.0x, the ratings could
be upgraded.

The ratings could be downgraded if Southwire's profitability and
adjusted EBITA margin decline such that adjusted debt-to-EBITDA
rises above 3.0x or adjusted EBITA margin is sustained below 4%. If
the company were to experience a material decline in operating cash
flow or deterioration in liquidity, or employ a more assertive
financial policy, the ratings could be downgraded.

The principal methodology used in these ratings was Global
Manufacturing Companies published in July 2014.

Headquartered in Carrollton, Georgia, Southwire manufactures copper
and aluminum wire and cable for approximately 6,000 customers
including electrical construction suppliers, retail home centers,
electric utilities, industrial clients and OEM manufacturers
throughout North America.  Revenue as of the latest twelve month
period ended March 31, 2016, was approximately $4.7 billion.


STEPHEN HARRIS: Powerdrive's $2.22MM Wins Auction
-------------------------------------------------
Judge Theodor C. Albert on June 15, 2016, entered an order
authorizing John M. Wolfe, the duly appointed Chapter 11 Trustee
for the bankruptcy estate of Energy Development Corporation and
Stephen T. Harris, to sell the Debtors' assets to Powerdrive Oil
and Gas Company LLC.

At the sale hearing on June 8, 2016, an auction was held consistent
with the Bidding Procedures approved by order entered May 18, 2016.
At the conclusion of the auction,

  (a) the Court confirmed as the highest bid the offer of
Powerdrive Oil, in the aggregate amount of $2,215,000, allocated
$1,662,500 to the EDC estate (subject to a further $10,000
suballocation to the Harris Estate as provided in the APA) and
$552,500 to the South Coast Oil Corporation ("SCOC") estate; and

  (b) confirmed as the backup bid the offer of Pacifoco, Inc. based
on the form of the Asset Purchase Agreement (the "APA") between the
Trustee and the Backup Bidder dated as of April 8, 2016, in the
aggregate amount of the consideration set forth in the Backup
Bidder APA, plus additional consideration at closing consisting of
$700,000 cash, with such additional consideration to be allocated
75% to EDC and 25% to SCOC.

The Trustee has been actively marketing the Debtor's assets for
sale.  While the Trustee received a number of offers and/or
expressions of interest, the Trustee concluded that the best offer
it received was from Powerdrive.

The "Purchased Assets" consist of substantially all of the assets
of SCOC, EDC and specified assets of Harris.

                       About Stephen Harris

Stephen Thomas Harris sought Chapter 11 protection (Bankr. C.D.
Cal. Case No. 06-11174) on July 21, 2006.  Related entity,
Huntington Beach, California-based Energy Development Corporation
simultaneously sought Chapter 11 protection (Case No. 06-11175).

EDC's business involved rights to subsurface mineral rights, drill
sites and wells, related tools and equipment and intangible rights
with respect to oil wells located in the town-lot portion of the
Huntington Beach Oil Field (the "HB Wells"), and two wells in the
adjacent West Newport Oil Field (collectively with the HB Wells,
the "EDC Wells").  The HB Wells were assigned, conveyed and
transferred to EDC by South Coast Oil Corporation ("SCOC")
pursuant
to an Assignment recorded May 10, 2001, as Document No.
20010298788, Official Records, Orange County, California (the
"2001
Assignment").  EDC also had certain rights or claims regarding the
State Lease PRC, 145.1 Offshore Lease located on County of Ventura
surface lands (the "Rincon Assets"), which had also been assigned
to EDC by SCOC.  EDC's primary business mission was to produce oil
and gas directly from existing oil and gas wells.  At the outset
of
these cases, Harris was engaged in operating EDC and the funds of
the two estates were combined.

EDC estimated assets and debt of $10 million to $50 million.

Simon H. Langer, Esq., in Los Angeles, California, represented the
Debtors.

John M. Wolfe was later appointed Chapter 11 Trustee for the
bankruptcy estates of EDC and Mr. Harris.  

Counsel for the Chapter 11 Trustee:

         Philip A. Gasteier
         LEVENE, NEALE, BENDER, YOO & BRILL L.L.P.
         10250 Constellation Boulevard, Suite 1700
         Los Angeles, California 90067
         Telephone: (310) 229-1234
         Facsimile: (310) 229-1244
         E-mail: pag@lnbyb.com


STONE ENERGY: Egan-Jones Cuts FC Sr. Unsecured Rating to C
----------------------------------------------------------
Egan-Jones Ratings Company lowered the foreign currency senior
unsecured rating on debt issued by Stone Energy Corp to C from B-
on June 8, 2016.  EJR also lowered the commercial paper rating on
the Company to D from B.

The Stone Energy Corporation is an American oil and gas corporation
based in Lafayette, Louisiana, USA.



STRATEGIC PARTNERS: S&P Assigns 'B' CCR, Outlook Stable
-------------------------------------------------------
S&P Global Ratings assigned its 'B' corporate credit rating to
Chatsworth, Calif.-based Strategic Partners Acquisition Corp.  The
outlook is stable.

At the same time, S&P assigned its 'B' issue-level rating to the
company's $370 million senior secured credit facility, which
consists of a five-year $45 million revolving credit facility and a
seven-year $325 million first-lien term loan.  The recovery rating
is '3', indicating S&P's expectation of meaningful (50% to 70%, on
the high end of the range) recovery in the event of a default.  The
ratings assume the transaction closes substantially on the terms
presented to S&P.  Pro forma debt outstanding is about $340
million.

"Our ratings on Strategic Partners reflect expectations of
aggressive financial policies as a result of its majority ownership
by a financial sponsor, limited scale, narrow business focus, and
some customer concentration in the highly competitive and
fragmented medical uniform industry," said S&P Global Ratings
analyst Gerald Phelan.  "The company benefits from its market
leadership position, stable demand for its products, consistent
operating profitability, and good profit margins," he added.

The stable outlook reflects S&P's expectation that Strategic
Partners will continue to achieve revenue and EBITDA growth through
product innovation, new customer wins, and consistent operating
efficiency while generating free cash flow of over
$25 million annually and improving debt to EBITDA to the low 5x.

S&P could lower the rating if the company makes a sizable
debt-financed distribution to sponsors or if EBITDA declines
materially such that debt to EBITDA is sustained around 7x.  The
latter could occur if the company loses a key customer or the
retailer makes major changes to the relationship, which damages
Strategic Partners' profitability and cash flow including
potentially unfavorable working capital outflows, fails to renew
key licenses relationships, or experiences revenue deterioration
from adverse economic market conditions.  This could occur if
EBITDA falls 25% or debt increase by more than $85 million.  S&P
could also lower the rating if the company generates negative free
operating cash flow.

Although unlikely over the next year, S&P could raise the rating if
the company's financial sponsor owners were to reduce control and
commit to a less aggressive financial policy such that leverage is
sustained well below 5x without a realistic risk for a
re-leveraging event.


SUBURBAN PROPANE: S&P Affirms 'BB-' CCR, Outlook Stable
-------------------------------------------------------
S&P Global Ratings affirmed its 'BB-' corporate credit rating on
Suburban Propane Partners L.P.  The outlook is stable.  S&P also
affirmed the 'BB-' rating on the company's senior unsecured notes.
The recovery rating on this debt is '4', and indicates S&P's
expectation of average recovery (lower end of the 30%-50% range) in
the event of a payment default.

Propane volume sales have been significantly lower as a result of
record warm temperatures last winter.  "Though credit metrics are
materially weaker than normal, we expect a normalized winter during
the upcoming heating season, which could lead to volume sales
increasing by over 15% for fiscal 2017, resulting in adjusted
leverage improving to about 4.25x," said S&P Global Ratings credit
analyst Mike Llanos.  S&P's forecast assumes fiscal 2016 leverage
of about 5.5x under the expectation that retail gallons sold
decline by 15% to 17% from the prior year.  Offsetting the decline
in gallons sold is the partnership's ability to maintain strong
profit margins.

The stable outlook reflects S&P's view retail propane volumes sold
will increase by over 15% year-over-year such that the partnership
achieves adjusted debt to EBITDA of about 4.25x in fiscal 2017.

S&P could lower the rating if the upcoming winter is warmer than
normal.  S&P could also consider lowering the rating if retail
margins deteriorate or propane volumes only increase by 5%
resulting in adjusted debt to EBITDA being sustained above 5x.

Though unlikely in the next year due to elevated debt levels, S&P
could consider higher ratings if the partnership can maintain
strong margins and increase retail propane gallons sold, or embrace
a more conservative financial policy, such that financial leverage
is sustained below 3x.


SUN PROPERTY: Taps Weinberg Gross as Legal Counsel
--------------------------------------------------
Sun Property Consultants, Inc. seeks approval from the U.S.
Bankruptcy Court for the Eastern District of New York to hire
Weinberg, Gross & Pergament LLP as its legal counsel.

Sun Property tapped the firm to:

     (a) provide legal advice about its powers and duties as a
         debtor-in-possession;

     (b) represent the Debtor before the court and at all hearings

         on matters pertaining to its affairs;

     (c) assist the Debtor in the preparation and negotiation of a

         plan of reorganization with its creditors; and

     (d) prepare legal papers on behalf of the Debtor.

The firm's professionals and their hourly rates are:

     Partners       $450 - $495     
     Associates     $150 - $350
     Paralegals     $95

Marc Pergament disclosed in a court filing that the firm is a
"disinterested person" as defined in section 101(14) of the
Bankruptcy Code.

Weinberg Gross can be reached through:

     Marc A. Pergament
     Weinberg, Gross & Pergament LLP
     400 Garden City Plaza, Suite 403
     Garden City, New York 11530
     (516) 877-2424

                  About Sun Property Consultants

Sun Property Consultants, Ltd. sought protection under Chapter 11
of the Bankruptcy Code (Bankr. E. D. N.Y. Case No. 16-72267) on May
23, 2016.  

The petition was signed by Rajesh K. Singh, authorized
representative.  The case is assigned to Judge Louis A. Scarcella.

At the time of the filing, the Debtor estimated its assets at $10
million to $50 million and debts at $1 million to $10 million.


SUNOCO LP: Fitch Rates $500MM Sr. Unsecured Notes 'BB/RR4'
----------------------------------------------------------
Fitch rates Sunoco, LP's (SUN) offering of $500 million in senior
unsecured notes due 2021 'BB/RR4.' The notes are being co-issued
with Sunoco Finance Corp. and are pari passu to SUN's existing
senior unsecured notes. Proceeds from the notes are expected to be
used to repay a portion of SUN's Term Loan A which it entered into
to finance an acquisition of 100% of the equity interest of Sunoco
Retail LLC and the remaining 68.4% interest in Sunoco, LLC from
Energy Transfer Partners, LP (ETP; 'BBB-'/Stable Outlook) for
roughly $2.2 billion in November 2015. The acquisition closed last
week. Fitch believes the acquisition of these assets allow SUN to
grow its size, scale, geographic diversity and ultimately
distributions for investors.

SUN's ratings are reflective of its growing size and scale, as well
as, its relationship with the Energy Transfer Equity, LP (ETE;
'BB'/Stable Outlook) family. The acquisition completes all of ETP's
planned dropdowns of the legacy Sunoco Inc. and Susser Holdings
retail assets. With the dropdowns complete Fitch expects SUN to be
more focused on organic growth and third-party acquisitions. Fitch
continues to expect ETE to be supportive of growth at all its
partnerships, including SUN, as it has historically been, providing
support if and as needed.

KEY RATING DRIVERS

Parent Affiliation: SUN's ratings consider SUN's relationship with
its parent and sponsor, ETE ('BB'/Rating Watch Positive) and with
ETP. SUN's affiliation with ETE and ETP provides significant
benefits to SUN, particularly with regard to SUN's ability to
acquire and fund assets through dropdown transactions such as this
one. These benefits are not available to standalone partnerships.
Fitch believes that the affiliation with ETP, and ultimately ETE,
helps minimize event financing and operating risks associated with
the newly acquired inventory of retail assets.

Growing Scale: Fitch believes that SUN will benefit from the
increased economies of scale that the acquisition provides. As the
store count managed by SUN continues to grow, SUN will be able to
benefit from increased purchasing power, logistical support and the
awareness of its top regional and national brands to create value.
This growing presence should allow SUN to increase its share of a
highly fragmented convenience store-fuel station market in which
nearly 60% of its competitors only own one store.

Moderate Leverage: Fitch expects SUN 2016 leverage will flex out to
between 5.0x to 5.5x, but fall to 5.0x and below for 2017 and
beyond. If leverage were to be meaningfully above 5.0x on a
sustained basis, Fitch would likely take a negative rating action.
Conversely, sustained leverage below 3.5x could lead to a positive
ratings action. Fitch expects future acquisitions and organic
spending to be funded with a balance of debt and equity with a
focus on maintaining moderate leverage at SUN. Fitch expects SUN
distribution coverage of above 1.0x for 2016 through 2018. If
distribution coverage were to be below 1.0x on a sustained basis
Fitch would likely take a negative rating action.

Organic Growth: A key to SUN's growth going forward will be
development of new stores targeted in high growth markets with
favorable demographics. New stores with more open and modern store
designs typically produce more cash flows than legacy stores. They
carry a larger proportion of higher margin food offerings and
private label products. Foodservice drives higher than average
gross margins and drives additional customer traffic. SUN also
plans to raze and rebuild on existing sites with attractive volume
and customer traffic. Utilizing existing locations eliminates the
need to permit sites. Fitch expects significant growth and
acquisition capital spending for 2016-2018, which is expected to be
funded on a balanced debt/equity basis, with SUN achieving leverage
in the 4.0x-4.5x range on a sustainable basis.

KEY ASSUMPTIONS

Fitch's key assumptions within the rating case for the issuer
include:

-- Wholesale distribution volume growth at a five-year compound
    average growth rate (CAGR) of about 1.5%-2%;

-- Same-store retail distribution volume growth at a five-year
    CAGR of 1.5%-2%;

-- SUN funds drop down acquisitions with proposed debt and equity

    issuance.

RATING SENSITIVITIES

Positive: Future developments that may, individually or
collectively, lead to a positive rating action include:

-- Sustained leverage (debt/EBITDA) below 3.5x, along with
    consistent operating margin improvements could result in
    positive rating action.

Negative: Future developments that may, individually or
collectively, lead to a negative rating action include:

-- Deteriorating EBIT margins at or below 1% on a consistent
    basis could lead to negative rating action.
-- An aggressive distribution policy that consistently resulted
    in a distribution coverage ratio below 1.0x on a sustained
    basis;
-- Higher than expected leverage, with debt/adjusted EBITDA
    ratios above 5.0x on a sustained basis could result in
    negative rating action.

LIQUIDITY

SUN's liquidity is adequate. As of Dec. 31, 2015, SUN had $61.7
million in cash and equivalents on hand and roughly $1.03 billion
in availability under its $1.5 billion secured revolving credit
facility due 2019. The revolver requires SUN to maintain a leverage
ratio as defined in the credit agreement of not more than 5.5x,
subject to an upward adjustment to 6.0x for three fiscal quarters
following an acquisition whose purchase price is not less than $50
million. SUN receives pro forma EBITDA credit for acquisitions and
material projects. SUN is currently in compliance with its leverage
covenant and is expected to remain so following the announced
acquisition transaction. SUN's debt maturities are manageable;
inclusive of the Term Loan A SUN does not have any significant debt
maturities until 2019.

FULL LIST OF RATING ACTIONS

Fitch rates Sunoco, LP's (SUN) offering of $500 million in senior
unsecured notes due 2021 'BB/RR4.'

Fitch currently rates SUN as follows:

Sunoco, LP
-- Long-term Issuer Default Rating 'BB';
-- Senior unsecured debt 'BB/RR4';
-- Senior secured debt 'BB+/RR1'.

Sunoco Finance Corp.
-- Senior unsecured debt 'BB/RR4'.


TALL CITY: Seeks to Hire Jesse Blanco as Legal Counsel
------------------------------------------------------
Tall City Well Service, LP seeks approval from the U.S. Bankruptcy
Court for the Western District of Texas to hire Jesse Blanco as its
legal counsel.

Mr. Blanco will provide legal services to the Debtor in connection
with its Chapter 11 case.  These services include:

     (a) examining the claims of creditors to determine their
         validity;

     (b) giving advice in connection with the use of cash
         collateral, sale or lease of property of the Debtor's
         estate, obtaining credit, and other bankruptcy-related
         matters;

     (c) drafting a Chapter 11 plan and negotiating with secured
         and unsecured creditors for the plan; and

     (d) objecting to claims, if appropriate.

Mr. Blanco will receive $400 per hour for his services.

In a court filing, Mr. Blanco disclosed that he does not represent
any interest adverse to the Debtor or its bankruptcy estate.

Mr. Blanco's contact information is:

     Jesse Blanco
     7406 Garden Grove
     San Antonio, Texas 78250
     713.320.3732 Telephone
     210.509.6903 Facsimile
     lawyerjblanco@gmail.com

                  About Tall City Well Service

Tall City Well Service, LP, filed a chapter 11 petition (Bankr.
W.D. Tex. Case No. 16-70079) on May 17, 2016, and is represented by
Jesse Blanco Jr., Esq., in San Antonio, Tex.  This chapter 11
proceeding is related to (but not jointly administered with) In re
J G Solis, Inc., (Bankr. W.D. Tex. Case No. 16-70080) also filed on
May 17, 2016.


TARRIE HYCHE: Selling Houston, AL Property for $300,000
-------------------------------------------------------
Tarrie Hyche is the joint owner, along with non-debtor wife Hilda
Hyche, of approximately 40 acres of property located at 12494
County Road 63, Houston, AL.  Tarrie Hyche asks the U.S. Bankruptcy
Court for the Northern District of Alabama to approve the private
sale of the Property to Gregory W. Cooper and Lacy W. Cooper for
$300,000.  The Debtor anticipates netting $282,523 after closing
costs.

The Debtor's attorney:

         BENTON & CENTENO, LLP
         2019 Third Avenue North
         Birmingham, Alabama 35203
         Tel: (205) 278-8000
         Fax: Ibenton@bcattys.com
              sstephens@bcattys.com

                        About Tarrie Hyche

Tarrie Hyche sought Chapter 11 protection (Bankr. N.D. Ala. Case
No. 12-72304) on Nov. 5, 2012.

Tarrie Hyche is represented by Lee R. Benton, Esq., and Jamie Alisa
Wilson, Esq., at Benton & Centeno, LLP.

The Debtor's Third Amended Plan of Reorganization was confirmed on
Nov. 6, 2013.  Pursuant to the Plan, Robert Morgan serves as the
Plan Trustee.


TEARN DEVELOPMENT: Taps Fitzgerald & Associates as Bankr. Counsel
-----------------------------------------------------------------
Tearn Development LLC asks for permission from the U.S. Bankruptcy
Court for the District of New Jersey to employ Fitzgerald &
Associates PC as bankruptcy counsel.

The Firm will represent the Debtor in all matters relating to the
Debtor's Chapter 11 case including preparation of plan and
disclosure statement, preparation and filing of bankruptcy
schedules.  The Firm will be paid at these hourly rates:

     Nicholas Fitzgerald, Esq., Associate Counsel        $400
     Paralegal                                            $80

Nicholas Fitzgerald, Esq., a member at the Firm, assures the Court
that the Firm doesn't hold nor represent an adverse interest to the
estate, and is a disinterested person under 11 U.S.C. Section
101(14).

The Firm can be reached at:

     Nicholas Fitzgerald, Esq.
     Fitzgerald & Associates, P.C.
     649 Newark Avenue
     Jersey City, NJ 07306
     Tel: (201) 533-1100
     Fax: (201) 533-1111
     E-mail:nickfitz.law@gmail.com
     Website: http://www.fitzgeraldlawnynj.net

Headquartered in Bayonne, New Jersey, Tearn Development LLC filed
for Chapter 11 bankruptcy protection (Bankr. D. N.J. Case No.
16-21672) on June 15, 2016, listing $2.25 million in total assets
and  $2.24 million in total liabilities.  The petition was signed
by Richard Cirminello, partner.  Judge Stacey L. Meisel presides
over the case.  Nicholas Fitzgerald, Esq., at Fitzgerald &
Associates, P.C., serves as the Debtor's bankruptcy counsel.


TERVITA CORP: Won't Make Interest Payment on Sr. Sub. Notes
-----------------------------------------------------------
Tervita Corporation on June 16, 2016, disclosed that it has reached
an agreement with noteholders concerning its 11.875% senior
subordinated notes due 2018.

On May 16, 2016, the Company disclosed it would not make the
US$18.3 million interest payment (the "May Interest Payments") in
connection with the Senior Subordinated Notes and utilize a 30-day
grace period (under its Senior Subordinated Notes) to engage in
discussions regarding a potential recapitalization transaction with
the holders of all of its long-term debt.  The grace period has
allowed Tervita to reach an agreement with approximately 96% of the
holders of the Senior Subordinated Notes, subject to certain
conditions, to forbear from declaring the principal amounts owing
under the Senior Subordinated Notes due and payable until September
15, 2016.  The Company has also entered into agreements with the
agents and certain required lenders under its CDN$350 million
revolving credit agreement and its US$244.6 million term loan
agreement to waive any defaults under those agreements that may
arise by not making the May Interest Payment.  These agreements
give the Company additional time to work on a broader agreement
with all of its long-term lenders to restructure or recapitalize
its long-term debt.

The Company remains current with all of its suppliers, contractors,
employees and other key partners.  With its strong cash position
and revolving line of credit, Tervita has ample liquidity to ensure
that these obligations will continue to be met in a timely
fashion.

"Tervita has taken steps to improve its cost profile and undertaken
a disciplined approach to managing and rationalizing its portfolio.
The Company appreciates the support of its many stakeholders.
Tervita's underlying business operations are strong, we remain
committed to our employees, our suppliers and our customers.  We
are being deliberate and thoughtful about this restructuring
process and are confident that Tervita will continue to be your
trusted partner for many years to come," Tervita said.

                         About Tervita

Tervita -- http://www.Tervita.com/-- is an environmental solutions
provider.  Its integrated earth, water, waste and resource
solutions deliver safe and efficient results through all phases of
a project by minimizing impact, maximizing returns.


THERAPEUTICSMD INC: Stockholders Elect 10 Directors
---------------------------------------------------
TherapeuticsMD, Inc., held its 2016 annual meeting of stockholders
on June 16, 2016, at which the stockholders:

    (1) elected Tommy G. Thompson, Robert G. Finizio, John C.K.
        Milligan, IV, Brian Bernick, M.D., J. Martin Carroll,
        Cooper C. Collins, Robert V. LaPenta, Jr., Jules A.
        Musing, Angus C. Russell and Nicholas Segal as directors,
        each to serve until the Company's next annual meeting of  

        stockholders or until their successors are elected and
        qualified;

    (2) approved, on a non-binding advisory basis, the
        compensation of the Company's named executive officers for
        fiscal year 2015; and

    (3) ratified the appointment of Grant Thornton, LLP, an
        independent registered public accounting firm, as the
        independent auditor of the Company for the fiscal year
        ending Dec. 31, 2016.

                  About TherapeuticsMD

Boca Raton, Florida-based TherapeuticsMD, Inc. (OTC QB: TXMD) is a
women's healthcare product company focused on creating and
commercializing products targeted exclusively for women.  The
Company currently manufactures and distributes branded and generic
prescription prenatal vitamins as well as over-the-counter
vitamins and cosmetics.  The Company is currently focused on
conducting the clinical trials necessary for regulatory approval
and commercialization of advanced hormone therapy pharmaceutical
products designed to alleviate the symptoms of and reduce the
health risks resulting from menopause-related hormone
deficiencies.

For the year ended Dec. 31, 2015, the Company reported a net loss
of $85.07 million on $20.1 million of net revenues compared to a
net loss of $54.2 million on $15.0 million of net revenues for the
year ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $73.7 million in total assets,
$10.7 million in total liabilities, all current, and $63.1 million
in total stockholders' equity.


TIERRA DEL REY: Ch.11 Trustee Taps R.A. Snyder as Broker
--------------------------------------------------------
The Chapter 11 trustee of Tierra Del Rey, LLC seeks approval from
the U.S. Bankruptcy Court for the Southern District of California
to hire R.A. Snyder Properties as its real estate broker.

Christopher Barclay, the bankruptcy trustee, tapped the firm to
market and sell the Debtor's main property located at 3675 King
Street in La Mesa.  

The property is an 80-unit apartment complex, which consists of
seven two-storey buildings.

R.A. Snyder will receive a commission, which is 3% of the aggregate
gross sale price for the property, upon the closing of a sale.  

Rick Snyder, a real estate agent with R.A. Snyder, disclosed in a
court filing that he is a "disinterested person" as defined in
section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Rick Snyder
     R.A. Snyder Properties
     2399 Camino Del Rio South
     San Diego, California, 92108
     Phone: (619) 992-7680

                      About Tierra Del Rey

Tierra Del Rey, LLC, owns the Tierra Del Rey Apartments, an 80-unit
multi-family apartment complex at 3675 King Street and 6975 Waite
Street in La Mesa, California.  The property is valued at $10.6
million and secures a debt of $4.21 million debt to Fannie Mae (1st
trust deed) and a $1.27 million debt to AP Mortgage Company, Inc.
(2nd trust deed).

A receiver seized control of the apartment complex on June 19,
2015.  The receiver, Trigild Inc., was appointed at the behest of
AP Mortgage, which commenced the suit styled, AP Mortgage Company,
Inc. vs. Bay Vista Methodist Heights et al.
37-2015-00012044-CU-OR-CTL, SDSC Central Division.

Tierra Del Rey filed a Chapter 11 bankruptcy petition (Bankr. S.D.
Cal. Case No. 15-04253) on June 29, 2015, disclosing assets of
$10.8 million against $5.54 million in debt.

The Debtor tapped Craig E. Dwyer, Esq., in San Diego, California,
as counsel.

The Court subsequently appointed Christopher Barclay as Chapter 11
bankruptcy trustee.



TODD VOLKER: Selling 22% HHA Stake for $1.32 Million
----------------------------------------------------
Todd A. Volker and Kimberly J. Volker ask the U.S. Bankruptcy Court
for the District of Kansas for approval to sell 22% of the stock of
HHA Holding Company to Greg Orman.

One of Debtor Todd Volker's primary assets in his bankruptcy case
is his ownership of approximately 22% of HHA Holding Company. HHA
Holding Company owns the stock of H & H Aero, Inc.  Both HHA
Holding Company and H&H Aero Inc. will be collectively referred to
as HHA, and the Debtor's stock shall collectively be called the
"HHA Stock."  The Debtor's HHA Stock is encumbered to the Internal
Revenue Service ("IRS") by nature of a federal tax lien in the
approximate amount of $550,000.

The Debtor has negotiated with Greg Orman for the sale and purchase
of Debtor's HHA Stock.  The Debtor also had prior communications
with HHA about buying back the HHA Stock.  While the Debtor is open
to other bidders, the Debtor believes Orman and HHA are the two
most likely buyers for the stock.

Orman submitted a Letter of Intent, subject to due diligence, to
Debtor for the purchase of all of Debtor's HHA stock, which, at the
time represented the highest and best price for Debtor's HHA Stock
(the "Orman LOI").  

To the extent additional interested parties come forward, Debtor
also seeks approval of the auction and bid procedures.

Subject to due diligence, the opening bid at auction shall be the
Orman bid of $1,320,000 ("Lead Bid").  The next bid must provide
for a cash purchase price exceeding the Lead Bid by a cash amount
equal to at least $89,600 (calculated as the sum of bid increment
of $50,000 plus $39,600, the $39,600 being the 3% "Break-Up Fee")
(the $89,600 shall be referred to as the "Initial Overbid"), with
subsequent overbids being in increments not less than $50,000.

The Debtors' attorneys:

         LENTZ CLARK DEINES PA
         Jeffrey A. Deines
         Shane J. McCall
         9260 Glenwood
         Overland Park, KS 66212
         Tel: (913) 648-0600
         Fax: (913) 648-0664
         E-mail: jdeines@lcdlaw.com
                 smccall@lcdlaw.com

On Feb. 22, 2013, Todd A. Volker and Kimberly J Volker filed a
voluntary petition for relief under Chapter 11 of the United States
Bankruptcy Code (Bankr. D. Kan. Case No. 13-20370) on Feb. 22,
2013.


TRILOGY ENERGY: S&P Lowers CCR to 'B-', Outlook Stable
------------------------------------------------------
S&P Global Ratings lowered its long-term corporate credit rating on
Calgary, Alta.-based oil and gas exploration and production (E&P)
company Trilogy Energy Corp. to 'B-' from 'B'.  The outlook is
stable.  At the same time, S&P Global Ratings affirmed its 'B-'
issue-level rating on the company's senior unsecured debt, and
revised its recovery rating on the debt to '3' from '5'.  This
indicates S&P's expectation of average (50%-70%; lower end of the
range) recovery for senior unsecured debtholders under its default
scenario.  

"The downgrade follows the revision to our assessment of Trilogy's
liquidity profile," said S&P Global Ratings credit analyst Michelle
Dathorne.  The company's liquidity profile has weakened to adequate
from strong, due to the reduced availability under its revolving
credit facility.  "As a result, the one-notch uplift the strong
liquidity profile provided no longer applies," Ms. Dathorne added.

Trilogy's successful efforts to cut costs and improve its operating
efficiency have enabled it to strengthen its profitability metrics,
and maintain a stable financial risk profile, despite persistent
low oil and gas prices.  Nevertheless, the reduced credit facility
availability has weakened the company's liquidity sources below the
level S&P estimates is necessary to support our previous strong
liquidity assessment.  In effect, S&P do not believe projected
liquidity sources will be sufficient to fund both maintenance and
growth spending while maintaining the ratio of liquidity sources to
total uses at or above 1.5x (the minimum threshold for a strong
liquidity profile) during the next 12 months.

The ratings on Trilogy reflect S&P Global Ratings' view of the
company's small, regionally focused upstream operations; its small
production base, which S&P do not expect to expand significantly
during the current industry downturn; and cash flow metrics that
S&P expects to remain weak throughout most of our 2016-2018 cash
flow forecast period.  S&P believes Trilogy's competitive
full-cycle cost structure (production and finding and development
costs), and moderate financial policies, which focus on maintaining
spending within internal cash flow generation, somewhat offset
these weaknesses.

The majority of Trilogy's reserves and production are in Alberta's
Kaybob region.  The company's reserves and production mix is about
65% natural gas and 35% liquids.

The stable outlook reflects S&P Global Ratings' expectation that
Trilogy will maintain its three-year (2016-2018), three-year
weighted-average FFO-to-debt ratio above 12% during S&P's 12-month
outlook period.  Although near-term cash flow metrics have weakened
materially relative to S&P's previous estimates due to persistently
low North American oil and gas prices, S&P believes the company's
ongoing efforts to limit capital spending within internal cash flow
generation should continue to support the financial risk profile at
levels S&P deems appropriate for the
'B-' rating.  Based on Trilogy's efforts to limit spending within
cash flow generation during the industry downturn, S&P do not
believe the company's leverage and cash flow metrics are likely to
weaken to levels where S&P would view its capital structure as
unsustainable.

S&P could lower its ratings on Trilogy if the company's balance
sheet leverage increased materially relative to S&P's base-case
scenario, such that its FFO-to-debt ratio fell below 6%, and S&P
believed its cash-flow metrics would remain below this level for an
extended period.

S&P could raise the ratings if the company's liquidity position
strengthened such that S&P would view its liquidity profile as
strong.  Alternatively, S&P could also raise the rating to 'B' if
Trilogy is able to strengthen and sustain its three-year,
weighted-average FFO-to-debt ratio above 20%.  This could likely
occur during midcycle to peak industry conditions, when the company
would generate stronger operating cash flow to fund continued
reserves and production growth.


U.S. SECURITY: Moody's Affirms B3 CFR, Outlook Stable
-----------------------------------------------------
Moody's Investors Service affirmed U.S. Security Associates
Holdings, Inc.'s B3 Corporate Family Rating and B3-PD Probability
of Default Rating, and assigned B2 instrument ratings to the
company's proposed $450 million senior secured first lien term loan
and $75 million senior secured first lien revolver.  The outlook is
stable.

Proceeds from the proposed transaction will be used to refinance
the company's existing credit facilities, pay related costs
associated with the transaction, and put cash on the balance sheet.
The existing facilities include approximately $402 million
outstanding on the term loan and $36 million across the company's
two revolving credit facilities (about $5 million of outstandings
under an $11 million revolver expiring in July 2016 and the
remainder under a $64 million revolver expiring in April 2017).

The transaction will be essentially leverage neutral and will
modestly improve the company's near term liquidity, as it will
address the upcoming maturities on US Security's revolving credit
facilities.  However, Moody's notes that the proposed term loan and
revolver are expected to contain a springing maturity inside of the
July 2018 maturity of the company's $160 million senior unsecured
notes (unrated) if $50 million or more remains outstanding on the
notes 91 days prior to maturity.  As a result, the company will
need to revisit its long term capital structure over the next 12-18
months.

Moody's took these rating actions:

Issuer: U.S. Security Associates Holdings, Inc.

  Corporate Family Rating, Affirmed at B3

  Probability of Default Rating, Affirmed at B3-PD

  New $450 million senior secured first lien term loan due 2023,
   Assigned at B2 (LGD3)

  New $75 million senior secured first lien revolving credit
   facility due 2021, Assigned at B2 (LGD3)

  Outlook, Remains at Stable

These ratings are unaffected and will be withdrawn upon close of
the proposed transaction:

  $11 million senior secured revolving credit facility due 2016,
   at B2 (LGD3) (to be withdrawn upon close of the proposed
   transaction)
  $64 million senior secured revolving credit facility due 2017,
   at B2 (LGD3) (to be withdrawn upon close of the proposed
   transaction)
  $345 million senior secured first lien term loan B due 2017, at
   B2 (LGD3) (to be withdrawn upon close of the proposed
   transaction)
  $75 million senior secured delayed draw term loan due 2017, at
   B2 (LGD3) (to be withdrawn upon close of the proposed
   transaction)

RATINGS RATIONALE

US Security's B3 CFR reflects the company's high leverage, which
Moody's estimates in the low 6 times range pro-forma for the
proposed refinancing.  The rating also considers the highly
competitive and fragmented contract security services industry in
which the company operates, which results in relatively low
operating margins.  Nonetheless, the rating benefits from a
recession-resistant and stable end market with a flexible cost
structure that requires minimal capital spending.  In addition, US
Security benefits from its scale and geographic footprint which
Moody's believes provide a competitive advantage relative to
smaller local players, as well as greater operating stability when
factoring in the meaningful share of revenue derived from national
accounts.
US Security's liquidity is adequate, supported by Moody's
expectation that positive free cash flow, modest balance sheet
cash, and availability under its $75 million revolver (expected to
be undrawn at close) will be sufficient to fund working capital
needs and mandatory debt amortization on the term loan over the
next 12-18 months.  However, failure to address the July 2018 on
its unsecured notes over the next 12 months could have a negative
impact on the company's liquidity and ratings.  The credit
facilities are expected to contain only a springing 1st lien net
leverage test on the revolver which is tested when the facility is
drawn at, or greater than 30%.  Moody's expects limited reliance on
the revolver and therefore does not anticipate the covenant will be
tested.  If it were tested Moody's would anticipate sufficient
cushion based on our expectation of where the covenants would be
set.

The B2 ratings on US Security's proposed senior secured credit
facilities are one notch above the company's B3 CFR and reflect the
instruments' senior position in the capital structure relative to
the $160 million unsecured notes and other junior claims including
trade payables, leases, and a modest amount of acquisition related
subordinated seller notes.  The credit facilities are expected to
have a first priority lien on substantially all assets and stock of
the borrower and its domestic subsidiaries.  If the company were to
refinance its unsecured notes with additional first lien debt it
could pressure the ratings on the credit facility lower, per
Moody's Loss Given Default Methodology.

The stable ratings outlook reflects Moody's expectation for modest
revenue growth and stable operating margins which should result in
a modest improvement to the company's credit metrics over the next
12-24 months.  The outlook also assumes that the company will
address the July 2018 maturity of its unsecured notes before they
become current in a little over 12 months.

An upgrade would require an improved liquidity profile, including
consistently positive free cash flow and a sustainable long term
capital structure.  Leverage sustained below 6 times and retained
cash flow to debt above 10% could also pressure the rating higher.

Ratings could be downgraded if the company does not, or is unable
to, address the maturity on its unsecured notes in a timely manner.
In addition, a deterioration in operating performance including
revenue declines, weaker operating margins, or negative free cash
flow resulting in a deterioration of credit metrics such that Debt
to EBITDA exceeded 7 times and EBITA to interest coverage was less
than 1.0 time, could also pressure the ratings.

The principal methodology used in these ratings was Business and
Consumer Service Industry published in December 2014.

US Security Associates Holdings, Inc., owned by affiliates of
Goldman Sachs Capital Partners and headquartered in Roswell,
Georgia, is a provider of security services primarily in North
America.  The company serves over 6,200 customers in various end
markets.  US Security reported revenue of approximately
$1.4 billion for the LTM period ending March 31, 2016.


U.S. SECURITY: S&P Affirms 'B' CCR, Outlook Stable
--------------------------------------------------
S&P Global Ratings affirmed its 'B' corporate credit rating on
Georgia-based contract security services company U.S. Security
Associates Holdings Inc.  The outlook is stable.

At the same time, S&P assigned its 'B+' issue-level rating on the
company's first-lien facilities, including a $75 million revolving
credit facility due 2021 and $450 million term loan due 2023.  The
'2' recovery rating indicates S&P's expectation for substantial
(70% to 90%, in the lower half of the range) recovery for secured
creditors in the event of a payment default.

As of March 31, 2016, the company had debt outstanding of $691
million, pro forma for the transactions, which includes S&P's
adjustments for insurance obligations and operating leases.

"The affirmation reflects our assessment of USS' continued high
financial leverage, narrow business focus, and its mid-tier
position in the domestic manned security industry," said S&P Global
Ratings analyst Peter Deluca.  "We also factor in the company's
flexible cost structure, diversified client base, solid client
retention track record, and our expectations of gradual
deleveraging," he added.

The stable outlook reflects S&P's expectation that US Security's
operating performance and credit metrics will remain near current
levels from steady demand for security services, its history of
integrating acquisitions, good reputation, solid expense
management, and market position in the growing manned security
guard sector.  S&P expects the company's credit metrics to
gradually improve as EBITDA grows modestly in the coming year.  S&P
forecasts financial leverage to improve to below 7x and that the
company will maintain EBITDA interest coverage above 2x in 2017, in
line with expectations for the current rating.

S&P could lower its corporate credit rating on USS if S&P expects
the company's credit metrics to remain weak, including debt to
EBITDA sustained above 7x in 2017.  This could occur from the
prioritization of acquisitions leading to unexpected increases in
debt not immediately offset by acquired EBITDA, inability to
achieve planned integration synergies, a reputation damaging event,
or unexpected customer contract losses leading to lower cash flow
and profitability.  In addition, failure to complete the proposed
refinancing could also trigger a downgrade, as liquidity could come
under pressure in late 2017.

Given the company's high debt levels and financial sponsor
ownership, it is unlikely that S&P would consider an upgrade in the
next year.  Longer term, S&P would consider an upgrade if the
company is able to improve credit metrics (perhaps from a less
aggressive financial policy) such that it sustains debt-to-EBITDA
leverage below 5x.  S&P estimates this could occur if the company
permanently pays down approximately $220 million in debt (assuming
2016 debt and EBITDA estimates.)


UCI INTERNATIONAL: 341 Meeting of Creditors Set for July 8
----------------------------------------------------------
The meeting of creditors of UCI International LLC, et al. is set to
be held on July 8, 2016, at 10:00 a.m., according to a filing with
the U.S. Bankruptcy Court for the District of Delaware.

The meeting will be held at:

         J. Caleb Boggs
         Federal Building
         844 King Street
         Wilmington, DE 19801

The court overseeing the bankruptcy case of a company schedules the
meeting of creditors usually about 30 days after the bankruptcy
petition is filed.  The meeting is called the "341 meeting" after
the section of the Bankruptcy Code that requires it.

A representative of the company is required to appear at the
meeting and answer questions under oath.  The meeting is presided
over by the U.S. trustee, the Justice Department's bankruptcy
watchdog.

                       About UCI International

UCI International, LLC, headquartered in Lake Forest, Illinois,
designs, manufactures, and distributes vehicle replacement parts,
including a broad range of filtration, fuel delivery systems, and
cooling systems products in the automotive, trucking, marine,
mining, construction, agricultural, and industrial vehicles
markets.  

UCI and its affiliates sought Chapter 11 protection (Bankr. D. Del.
Case No. 16-11355) on June 1, 2016.  The Debtors are represented by
lawyers at Sidley Austin LLP.  Alvarez & Marsal provides the
company with financial advice and Moelis & Company LLC is the
Debtors' investment banker.  Garden City Group serves as the
Debtors' Claims Agent.  Wilmington Trust is the Indenture Trustee
for a $400-million issue of 8.625% Senior Notes Due 2019.



UCI INTERNATIONAL: Court Orders Joint Administration of Cases
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware entered an
order directing the joint administration of Airtex Industries, LLC,
Airtex Products, LP, ASC Holdco, Inc., ASC Industries, Inc.,
Champion Laboratories, Inc., UCI Acquisitions Holdings (No. 1)
Corp., UCI Acquisition Holdings (No. 3) Corp, UCI Acquisition
Holdings (No. 4) LLC, UCI-Airtex Holdings, Inc., UCI International,
LLC, UCI Holdings Limited, UCI Pennsylvania, Inc. and United
Components, LLC's Chapter 11 cases under the lead case of UCI
International, LLC, case number 16-11354.

The above-captioned chapter 11 cases will be consolidated for
procedural purposes only and will be administered jointly.

                  About UCI International

UCI International, LLC, headquartered in Lake Forest, Illinois,
designs, manufactures, and distributes vehicle replacement parts,
including a broad range of filtration, fuel delivery systems, and
cooling systems products in the automotive, trucking, marine,
mining, construction, agricultural, and industrial vehicles
markets.  

UCI and its affiliates sought Chapter 11 protection (Bankr. D. Del.
Case No. 16-11355) on June 1, 2016.  The Debtors are represented by
lawyers at Sidley Austin LLP.  Alvarez & Marsal provides the
company with financial advice and Moelis & Company LLC is the
Debtors' investment banker.  Garden City Group serves as the
Debtors' Claims Agent.  Wilmington Trust is the Indenture Trustee
for a $400-million issue of 8.625% Senior Notes Due 2019.



UCI INTERNATIONAL: Seeks to Hire A&M, Designate Whittman as CRO
---------------------------------------------------------------
UCI International, LLC and its affiliates seek approval from the
U.S. Bankruptcy Court for the District of Delaware to hire Alvarez
& Marsal North America LLC.

The firm will provide the Debtors with a chief restructuring
officer and additional personnel to assist them in their
reorganization efforts.  Brian Whittman, managing director of
Alvarez & Marsal, will serve as the Debtors' CRO.

The services to be provided by Alvarez & Marsal include:

     (a) assisting the Debtors in preparing, obtaining approval
         of, and filing of schedules of assets and liabilities,
         statements of financial affairs and other information
         required in connection with their Chapter 11 cases;

     (b) assisting the Debtors and their legal counsel in
         responding to motions or pleadings during the pendency of

         the cases;

     (c) serving as the lead contact for creditor discussions and
         negotiations;

     (d) serving as the lead contact at meetings commenced by the
         U.S. trustee;

     (e) assisting or negotiating directly with trade creditors;

     (f) developing and overseeing cash management strategies and
         processes;

     (g) analyzing operating and financial budgets and making
         recommendations;

     (h) assisting the management in developing updated business
         plans and other related forecasts to be used during the
         restructuring;

     (i) assisting the management in implementing any strategic
         restructuring or sale of the Debtors; and

     (j) taking other actions consistent with the role of a CRO.

The Debtors will pay Alvarez & Marsal for the services of its
personnel at their customary hourly rates:

     Managing Directors    $775 – $975
     Directors             $600 – $750
     Analysts/Associates   $375 – $575

Meanwhile, the hourly rates for professionals in the firm's Claims
Management Services group, are:

     Managing Directors    $675 – $775
     Directors             $500 – $650
     Analysts/Consultants  $325 – $500

Aside from professional fees, the firm will also receive
reimbursement for work-related expenses.

In a court filing, Mr. Whittman disclosed that the firm does not
have any interest adverse to the Debtors' estates or any of their
creditors.

Alvarez & Marsal can be reached through:

     Brian Whittman
     Alvarez & Marsal North America LLC
     55 West Monroe Street, Suite 4000
     Chicago, IL 60603
     Phone: +1 312-601-4220
     Fax: +1 312-332-4559

                     About UCI International

UCI International, LLC, headquartered in Lake Forest, Ill.,
designs, manufactures, and distributes vehicle replacement parts,
including a broad range of filtration, fuel delivery systems, and
cooling systems products in the automotive, trucking, marine,
mining, construction, agricultural, and industrial vehicles
markets.  

UCI and its affiliates sought chapter 11 protection (Bankr. D. Del.
Case No. 16-11355) on June 1, 2016.  The Debtors are represented by
lawyers at Sidley Austin LLP.  Alvarez & Marsal provides the
company with financial advice and Moelis & Company LLC is the
Debtors' investment banker.  Garden City Group serves as the
Debtors' Claims Agent.  Wilmington Trust is the Indenture Trustee
for a $400-million issue of 8.625% Senior Notes Due 2019.


ULTRA PETROLEUM: Committee Taps PJT Partners as Financial Advisor
-----------------------------------------------------------------
The official committee of unsecured creditors of Ultra Petroleum
Corp. seeks approval from the U.S. Bankruptcy Court for the
Southern District of Texas to hire PJT Partners LP as its.

The Debtor tapped the firm to:

     (a) assist in the evaluation of the Debtors' businesses and
         prospects;

     (b) assist in the evaluation of the Debtors' long-term
         business plan and related financial projections;

     (c) assist in the evaluation of financial data and
         presentations to the committee;

     (d) analyze the Debtors' financial liquidity and evaluate

         alternatives to improve such liquidity;

     (e) analyze various restructuring scenarios and the potential
         impact of these scenarios on the recoveries of those
         stakeholders impacted by the restructuring or sale;

     (f) evaluate the Debtors' debt capacity and alternative
         capital structures;

     (g) participate in negotiations;

     (h) value securities offered by the Debtors in connection
         with a restructuring; and

     (i) provide expert witness testimony concerning any of the
         subjects encompassed by the other services.

PJT Partners will receive a monthly fee of $150,000, in cash, and a
restructuring fee of $4.75 million.  One-half of any monthly fee
paid subsequent to the sixth monthly fee will be creditable against
the restructuring fee.

Aside from professional fees, the firm will also receive
reimbursement for work-related expenses and will be entitled to
indemnification.

In a court filing, Mark Buschmann disclosed that the firm is a
"disinterested person" as defined in section 101(14) of the
Bankruptcy Code.

PJT Partners can be reached through:

     Mark Buschmann
     PJT Partners LP
     280 Park Avenue
     New York, NY 10017
     +1 212-364-7800
     info@pjtpartners.com

                     About Ultra Petroleum

Ultra Petroleum Corp. is an independent oil and gas company engaged
in the development, production, operation, exploration and
acquisition of oil and natural gas properties.

Ultra Petroleum Corp. and its affiliates filed separate Chapter 11
petitions (Bankr. S.D. Tex. Case Nos. 16-32202 to 16-32209) on
April 29, 2016. The Hon. Marvin Isgur presides over the cases.

James H.M. Sprayregen, P.C., David R. Seligman, P.C., Michael B.
Slade, Esq., Christopher T. Greco, Esq., and Gregory F. Pesce,
Esq., at KIRKLAND & ELLIS LLP; and Patricia B. Tomasco, Esq.,
Matthew D. Cavenaugh, Esq., and Jennifer F. Wertz, Esq., at Jackson
Walker, L.L.P., serve as counsel to the Debtors. Rothschild Inc.
serves as the Debtors' investment banker; Petrie Partners serves as
their investment banker; and Epiq Bankruptcy Solutions, LLC, serves
as claims and noticing agent.

Ultra Petroleum Corp. listed total assets of $1.28 billion and
total liabilities of $3.91 billion as of March 31, 2016.

The petitions were signed by Garland R. Shaw, chief financial
officer.

The Company's common stock commenced trading on the OTC Pink
Marketplace under the symbol "UPLMQ" on May 3, 2016.

The Office of the U.S. Trustee has appointed seven creditors of
Ultra Petroleum Corp. to serve on the official committee of
unsecured creditors.


VANGUARD HEALTHCARE: Panel Taps CohnReznick as Financial Advisor
----------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of Vanguard Healthcare, LLC, et al., asks for authorization
from the U.S. Bankruptcy Court for the Middle District of Tennessee
to retain CohnReznick LLP as its financial advisor nunc pro tunc to
June 1, 2016.

A hearing on the request is set for July 19, 2016, at 9:00 a.m.

CohnReznick is will:

     a) review the reasonableness of the cash collateral/DIP
        arrangements as to cost to the Debtor and the likelihood
        that the Debtor will be able to comply with the terms of
        the court order;

     b) at the request of Committee's counsel, analyze and review
        key motions to identify strategic financial issues in the
        case;

     c) gain an understanding of the Debtor's corporate structure,

        including non-debtor entities;

     d) perform a preliminary assessment of the Debtor's short-
        term budgets;

     e) establish reporting procedures that will allow for the
        monitoring of the Debtor's postpetition operations and
        sales efforts;

     f) develop and evaluate alternative sale strategies;

     g) scrutinize proposed transactions, including the assumption

        and rejection of executory contracts;

     h) identify, analyze and investigate transactions with non-
        debtor entities and other related parties;

     i) monitor the Debtor's weekly operating results;

     j) monitor the Debtor's budget to actual results on an
        ongoing basis for reasonableness and cost control;

     k) communicate findings to the Committee;

     l) perform forensic accounting procedures, as directed by the

        Committee and Counsel;

     m) investigate and analyze all potential avoidance action
        claims;

     n) prepare preliminary dividend analyses to determine the
        potential return to unsecured creditors;

     o) monitor the sales process (including evaluating asset
        purchase agreements submitted) and supplement the lists of

        potential buyers;

     p) assist the Committee and its counsel in negotiating the
        key terms of a plan of reorganization or plan of
        liquidation; and

     q) render assistance as the Committee and its counsel may
        deem necessary.

CohnReznick will be paid at these hourly rates:

        Partner/Senior Partner                 $610-$815
        Manager/Senior Manager/Director        $450-$640
        Other Professional Staff               $300-$440
        Paraprofessional                            $195

As an accommodation to the Committee, CohnReznick has agreed to a
blended hourly rate of $500 per hour in connection with its
services on this matter.  In the normal course of business,
CohnReznick revises its hourly rates on Feb. 1 of each year.  In
addition, CohnReznick will seek reimbursement for out-of-pocket
expenses incurred in connection with its services in this case.

Clifford A. Zucker, a partner of CohnReznick LLP, assures the Court
that the firm is a "disinterested person" within the meaning of
section 101(14) of the Bankruptcy Code, does not hold or represent
an interest adverse to the Debtor’s estate, and has no connection
to the Debtor, its creditors or its related parties.

CohnReznick can be reached at:

        Clifford A. Zucker
        Clifford A. Zucker, CPA, Partner
        CohnReznick LLP
        333 Thornall Street, 6th floor
        Edison, NJ 08837
        Tel: (732) 549-0700
        E-mail: Clifford.zucker@cohnreznick.com

The Committee's counsel can be reached at:

        Glenn B. Rose, Esq.
        Gene L. Humphreys, Esq.
        BASS, BERRY & SIMS PLC
        150 Third Avenue South, Suite 2800
        Nashville, TN 37201
        Tel: (615) 742-6200
        Fax: (615) 742-6293
        E-mail: grose@bassberry.com
                ghumphreys@bassberry.com

                    About Vanguard Healthcare

Vanguard is a long-term care provider headquartered in Brentwood,
Tennessee, providing rehabilitation and skilled nursing services
at 14 facilities in four states (Florida, Mississippi, Tennessee
and West Virginia).

Vanguard Healthcare, LLC, and 17 of its subsidiaries each filed a
Chapter 11 bankruptcy petition (Bankr. M.D Tenn. Lead Case
No. 16-03296) on May 6, 2016. The petitions were signed by William
D. Orand, the CEO.  Vanguard estimated assets in the range of $100
million to $500 million and liabilities of up to $100 million.

The Debtors have hired Bradley Arant Boult Cummings LLP as counsel
and BMC Group as noticing agent.

The Hon. Randal S. Mashburn is the case judge.


VANGUARD HEALTHCARE: Taps Jobe Hastings, 3 Other Accountants
------------------------------------------------------------
Vanguard Healthcare, LLC and its affiliates seek approval from the
U.S. Bankruptcy Court for the Middle District of Tennessee to hire
accountants utilized in the ordinary course of business.

The Debtors propose to hire Jobe Hastings & Associates, Reingruber
& Associates, Reingruber & Company PA, and LBMC PC.

The accounting firms will not be involved in the administration of
the Debtors' Chapter 11 cases.  Instead, they will continue to
provide the same types of services they provided to the Debtors
prior to their bankruptcy, according to court filings.

Prior to June 16, the Debtors made these payments to the firms for
completing and filing their 2015 Medicare cost reports last month:

     Accountant                 Payment Date     Amount
     ----------                 ------------     ------
     Jobe Hastings              05/23/2016       $7,300
     Reingruber & Associates    05/23/2016       $18,600
     Reingruber & Company       05/23/2016       $6,057
     LBMC                       No payments after
                                05/06/2016

The accounting firms do not have interests adverse to the Debtors
or any of their creditors, according to court filings.

                    About Vanguard Healthcare

Vanguard is a long-term care provider headquartered in Brentwood,
Tennessee, providing rehabilitation and skilled nursing services at
14 facilities in four states (Florida, Mississippi, Tennessee and
West Virginia).

Vanguard Healthcare, LLC and 17 of its subsidiaries each filed a
Chapter 11 bankruptcy petition (Bankr. M.D Tenn. Lead Case No.
16-03296) on May 6, 2016. The petitions were signed by William D.
Orand, the CEO.  Vanguard estimated assets in the range of $100
million to $500 million and liabilities of up to $100 million.

The Debtors have hired Bradley Arant Boult Cummings LLP as counsel
and BMC Group as noticing agent.

The Hon. Randal S. Mashburn is the case judge.


VERTELLUS SPECIALTIES: 341 Meeting of Creditors Set for July 11
---------------------------------------------------------------
The meeting of creditors of Vertellus Specialties, Inc., et al., is
set to be held on July 11, 2016, at 1:30 p.m., according to a
filing with the U.S. Bankruptcy Court in Delaware.

The meeting will take place at J. Caleb Boggs Federal Building, 844
King Street, Room 2112, Wilmington, Delaware 19801.

The court overseeing the bankruptcy case of a company schedules the
meeting of creditors usually about 30 days after the bankruptcy
petition is filed. The meeting is called the "341 meeting" after
the section of the Bankruptcy Code that requires it.

A representative of the company is required to appear at the
meeting and answer questions under oath. The meeting is presided
over by the U.S. trustee, the Justice Department's bankruptcy
watchdog.

                      About Vertellus Specialties

Vertellus Specialties Inc. is a global specialty chemicals company
focused on the manufacture of ingredients used in pharmaceuticals,
personal care, nutrition, agriculture, and a host of other market
areas affected by trends favoring "green" technologies and
chemistries.

Headquartered in Indianapolis, Indiana, Vertellus Specialties Inc.
and several affiliates filed separate Chapter 11 bankruptcy
petitions (Bankr. D. Del. Case Nos. 16-11289 to 16-11299) on May
31, 2016. Judge Christopher S. Sontchi presides over the case.

Stuart M. Brown, Esq., Kaitlin M. Edelman, Esq., Richard A.
Chesley, Esq., Daniel M. Simon, Esq., and David E. Avraham, Esq.,
at DLA Piper LLP (US) serve as the Debtors' bankruptcy counsel.

Jefferies LLC is the Debtors' investment banker. Andrew Hinkelman
at FTI Consulting, Inc., is the Debtors' chief restructuring
officer. Kurtzman Carson Consultants is the Debtors' claims and
noticing agent.

The Debtors estimated their assets at between $100 million and $500
million and debts at between $500 million and $1 billion.

The petitions were signed by Anne Frye, vice president, secretary
and general counsel.


VERTELLUS SPECIALTIES: Wants to File Schedules by July 15
---------------------------------------------------------
Vertellus Specialties, Inc., et al., ask the U.S. Bankruptcy Court
for the District of Delaware to extend the time for filing
schedules of assets and liabilities, and statements of financial
affairs for a period of 15 days in addition to the automatic
extension under local rules -- for a total of approximately 45 days
from the May 31, 2016 petition date -- without prejudice to the
Debtors' ability to request additional extensions for cause shown.

The scope and complexity of the Debtors' businesses, coupled with
the limited time and resources available to the Debtors to marshal
the required information, necessitate an extension of the deadline
to file the Schedules.

The nature and scope of the Debtors' operations require them to
maintain voluminous records and intricate accounting systems. The
complexity and diversity of the Debtors' business, the limited
staff available to perform the required internal review of their
financial records and affairs, the numerous critical operational
matters that their staff and professionals are expected to have to
address in the early days of these chapter 11 cases, and the
pressure incident to the commencement of these chapter 11 cases
provide ample cause justifying, if not necessitating, an extension
of the deadline to file the Schedules

The Debtors are represented by:

     Stuart M. Brown, Esq.
     Kaitlin M. Edelman, Esq.
     DLA Piper LLP (US)
     1201 North Market Street, Suite 2100
     Wilmington, DE 19801
     Telephone: (302) 468-5700
     Facsimile: (302) 394-2341
     Email: stuart.brown@dlapiper.com
            kaitlin.edelman@dlapiper.com

        - and –

     Richard A. Chesley, Esq.
     Daniel M. Simon, Esq.
     David E. Avraham, Esq.
     DLA Piper LLP (US)
     203 N. LaSalle Street, Suite 1900
     Chicago, IL 60601
     Telephone: (312) 368-4000
     Facsimile: (312) 236-7516
     Email: richard.chesley@dlapiper.com
            daniel.simon@dlapiper.com
            david.avraham@dlapiper.com

                      About Vertellus Specialties

Vertellus Specialties Inc. is a global specialty chemicals company
focused on the manufacture of ingredients used in pharmaceuticals,
personal care, nutrition, agriculture, and a host of other market
areas affected by trends favoring "green" technologies and
chemistries.

Headquartered in Indianapolis, Indiana, Vertellus Specialties Inc.
and several affiliates filed separate Chapter 11 bankruptcy
petitions (Bankr. D. Del. Case Nos. 16-11289 to 16-11299) on May
31, 2016. Judge Christopher S. Sontchi presides over the case.

Stuart M. Brown, Esq., Kaitlin M. Edelman, Esq., Richard A.
Chesley, Esq., Daniel M. Simon, Esq., and David E. Avraham, Esq.,
at DLA Piper LLP (US) serve as the Debtors' bankruptcy counsel.

Jefferies LLC is the Debtors' investment banker. Andrew Hinkelman
at FTI Consulting, Inc., is the Debtors' chief restructuring
officer. Kurtzman Carson Consultants is the Debtors' claims and
noticing agent.

The Debtors estimated their assets at between $100 million and $500
million and debts at between $500 million and $1 billion.

The petitions were signed by Anne Frye, vice president, secretary
and general counsel.


VISION SOLUTIONS: S&P Affirms Then Withdraws 'B-' CCR
-----------------------------------------------------
S&P Global Ratings said it affirmed its 'B-' corporate rating on
Irvine, Calif.-based Vision Solutions Inc.  The outlook is stable.

At the same time, S&P removed all ratings from CreditWatch, where
it placed them with developing implications on May 20, 2016.

S&P then withdrew all of its ratings, including its 'B-' corporate
credit rating, on Vision Solutions following the completion of the
sale of the company to Clearlake, and repayment of existing debt.

"The rating action follows the closing of the sale of Vision
Solutions to Clearlake and the repayment of its existing $240
million first-lien term loan due April 2017 and $90 million
second-lien term loan due July 2017," said S&P Global Ratings
credit analyst Tuan Duong.



VISUALANT INC: Dale Broadrick Reports 22% Stake as of June 20
-------------------------------------------------------------
In a Schedule 13D filed with the Securities and Exchange
Commission, Dale Broadrick, a private investor, disclosed that as
of June 20, 2016, he beneficially owns 310,165 shares of common
stock of Visualant, Inc. representing 22 percent based on total
shares of Common Stock outstanding as of June 20, 2016, of
1,407,324.  A copy of the regulatory filing is available for free
at https://is.gd/00kwbE

                    About Visualant Inc.

Seattle, Wash.-based Visualant, Inc., was incorporated under the
laws of the State of Nevada on Oct. 8, 1998.  The Company
develops low-cost, high speed, light-based security and quality
control solutions for use in homeland security, anti-
counterfeiting, forgery/fraud prevention, brand protection and
process control applications.

Visualant reported a net loss of $2.63 million on $6.29 million of
revenue for the year ended Sept. 30, 2015, compared to a net loss
of $1.01 million on $7.98 million of revenue for the year ended
Sept. 30, 2014.

As of Dec. 31, 2015, the Company had $2.43 million in total assets,
$9.69 million in total liabilities, all current, and a total
stockholders' deficit of $7.25 million.

PMB Helin Donovan, LLP, in Seattle, Washington, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Sept. 30, 2015, citing that Company has sustained a
net loss from operations and has an accumulated deficit since
inception.  These factors raise substantial doubt about the
Company's ability to continue as a going concern.


WATERPROOFING UNLIMITED: Taps Zalkin Revell as Bankruptcy Counsel
-----------------------------------------------------------------
Waterproofing Unlimited, Inc., seeks permission from the Hon. Jerry
C. Oldshue, Jr., of the U.S. Bankruptcy Court for the Northern
District of Florida to employ Zalkin Revell, PLLC, as counsel to
the Debtor, nunc pro tunc to the Petition Date.

The Firm will provide these services:

     a) preparing schedules and statements, as well as various
        pleadings, applications, motions, responses, objections,
        and notices related to administration of this case and
        conducting examinations incidental to the administration
        of this case and any proceedings;

     b) protecting the interests of the Debtor in all matters
        pending before the Court;

     c) analyzing and developing the relationship of the Debtor to

        the claims of creditors and other parties-in-interest in
        this case;

     d) advising the Debtor of its rights, duties and obligations
        as a debtor-in-possession operating under Chapter 11 of
        the U.S. Bankruptcy Code;

     e) taking any and all other necessary action incidental to
        the proper preservation and administration of this Chapter

        11 case;

     f) appearing at various hearings on administrative and
        contested matters and in any adversary proceedings filed;
        and

     g) advising and assisting the Debtor in the formation and
        drafting of a disclosure statement and plan of
        reorganization and negotiate with his creditors in
        relation to a plan and any and all matters related
        thereto.

The Firm will be paid at these hourly rates:

        Natasha Z. Revell, Esq.                $300
        Teresa M. Dorr, Esq.                   $265
        Zalkin Revell's Legal Assistant         $90

The Firm has been paid a $10,717 retainer which was deposited into
the Firm's trust account.  Of the Bankruptcy Retainer, $9,000 was
used for pre-petition services rendered to the Debtor in connection
with the filing of the Petition, and the remainder was used for the
payment of the filing fee.

Natasha Z. Revell, Esq., a member of the Firm, assures the Court
that the Firm doesn't hold nor represent an interest adverse to
this estate and that all members of the Firm are disinterested
persons under the Bankruptcy Code.

The Firm can be reached at:

        Natasha Z. Revell, Esq.
        Teresa M. Dorr, Esq.
        ZALKIN REVELL, PLLC
        2441 US Highway 98W, Suite 109
        Santa Rosa Beach, FL 32459
        Tel: (850) 267-2111
        Fax: (866) 560-7111
        E-mail: tasha@zalkinrevell.com
                tdorr@zalkinrevell.com

Waterproofing Unlimited, Inc., is an S Corporation organized under
the laws of the State of Florida with its principal place of
business located at 103 Bass Ave, Fort Walton Beach, Florida.  It
filed for Chapter 11 bankruptcy protection (Bankr. N.D. Fla. Case
No. 16-30441) on May 11, 2016.  Teresa M. Dorr, Esq., at Zalkin
Revell, PLLC, serves as the Debtor's bankruptcy counsel.


WAYNE COUNTY, MI: Fitch Hikes Issuer Default Rating to BB+
----------------------------------------------------------
Fitch Ratings has upgraded the ratings on the following Wayne
County, MI obligations to 'BB+' from 'B':

-- Issuer Default Rating (IDR);

-- $81.7 million limited tax general obligation (LTGO) bonds
    issued by Wayne County;

-- $47.5 million building authority (stadium) refunding bonds,
    series 2012 (Wayne County LTGO) issued by Detroit/Wayne County

    Stadium Authority;

-- $195.5 million building authority bonds issued by Wayne County

    Building Authority.

The Rating Outlook is Stable.

SECURITY

LTGO bonds issued by the county carry the county's general
obligation ad valorem tax pledge, subject to applicable charter,
statutory and constitutional limitations.

Stadium authority and building authority bonds are backed by lease
payments from the county to the respective authority. The
obligation to make the rental payments is not subject to
appropriation, setoff or abatement for any cause, and carries the
county's LTGO pledge.

KEY RATING DRIVERS

Upgrade Factors: The upgrade to 'BB+' from 'B' reflects the
significant progress that the county has made toward structural
balance by fundamentally realigning its expenditure and long-term
liability profiles with its likely revenue trajectory. The previous
rating of 'B' with a Stable Outlook incorporated the county's
financial distress as well as recovery plan execution risk. The
county's achievement of most of the recovery plan elements has
ameliorated financial distress, materially alters future prospects
for budgetary balance and significantly improves credit quality.

Economic Resource Base
The Detroit area economy remains pressured despite some improvement
after severe weakening during the recent recession. Economic
indices for county residents are below average overall, as the
effect of impoverished city residents outweighs that of the
relatively wealthier suburban residents.

Revenue Framework: 'bb' factor assessment
Fitch expects revenues to grow marginally in the near term, as
property values recover; however, the county's revenue framework
remains vulnerable to future economic downturns. The county's
independent legal ability to raise revenues is limited by state law
and the county remains unable to adjust tax rates for assessed
value (AV) declines.

Expenditure Framework: 'a' factor assessment
The county operates under an Act 436 consent agreement with the
state, which affords the county tools that it is using to improve
its expenditure flexibility, particularly labor costs.
Implementation of the recovery plan has realized significant
savings from wages, benefits, outsourcing and layoffs.

Long-Term Liability Burden: 'aa' factor assessment
Long-term liabilities, including unfunded pension and overall debt,
are moderate when measured against the resource base. Recent
changes to pensions and other post-employment benefits (OPEB) have
materially improved the county's credit profile.

Operating Performance: 'bb' factor assessment
The county has made marked progress towards structural balance and
recently eliminated the accumulated general fund deficit. However,
the existing cushion is still not sufficient to compensate for the
vulnerability of the revenue stream to recessionary declines, given
the county's limited capacity to take offsetting budgetary action.

RATING SENSITIVITIES
Sufficient Reserve Cushion: Restoration of a reserve safety margin
that provides an adequate cushion against future volatility of the
revenue stream could cause an upgrade.

Reversal of Progress: Recent progress achieved during the consent
agreement period has been instrumental to credit quality
improvement. Any reversal of such progress could put downward
pressure on the rating.

CREDIT PROFILE

Taxable value dropped sharply during the recession with more
moderate declines recorded throughout the recovery. The local
economy has been slow to recover but development activity has
picked up in Detroit's central business district as well as certain
other portions of the county outside the city.

The employment outlook is brightening after a long period of
weakness. Total employment and the labor force both contracted
severely over the last decade. More recently, the April 2016
unemployment rate of 5.3% was far below the 16.2% recorded in 2009,
although still higher than the state rate of 4.3%.

Revenue Framework
The county remains dependent on property taxes for more than half
of general fund revenues and is highly susceptible to losing
revenue during times of declining property values.

Fitch expects underlying economic trends to produce stagnant
revenues absent additional revenue raising measures. As an urban
center with Detroit's distressed tax base at its core, the county
remains vulnerable to a state-imposed framework that has the effect
of accelerating revenue declines in a downturn while limiting
upside potential in a recovery. Property tax collections have
declined an aggregate $186 million or 42% since 2007, only recently
showing signs of stabilization.

Legal ability to raise revenues is constrained. The county may not
adjust the mill rate to compensate for tax base declines. Growth in
the property tax levy may not exceed CPI plus new construction and
growth in assessed valuation is limited to the lesser of 5% or the
rate of inflation, according to Michigan state law. In addition,
Wayne County voters imposed a further limitation: the necessity for
a supermajority of the county committee and 60% of voters to
approve tax increases.

Expenditure Framework
The county has operated under a consent agreement with the state
under Act 436 for the past year and has used the powers granted
under that agreement to fundamentally change its expenditure
profile in a way that makes attainment of structural balance a
realistic goal. Previously, the county's expenditure framework
suffered from a lack of independent control, leading to chronic
structural imbalance.

Fitch expects that the changes that management has effected while
under the consent agreement will lower the trajectory of spending
growth, even after the county exits Act 436 supervision.

Historically, the county's efforts to rein in expenditures were not
enough to offset the catastrophic loss of property tax revenues
during the recession. Fitch believes that expenditure flexibility
has been greatly improved by management's success in using consent
agreement powers to realign core spending, including wages,
benefits and post-retirement costs.

Recovery plan implementation has largely closed the structural
budget deficit and eliminated the accumulated general fund deficit.
Key plan achievements include department
eliminations/consolidations, significant negotiated health care
savings, and the switch to a stipend model for OPEB/retiree health
care. Changes to OPEB alone resulted in a $34 million (63% of prior
OPEB payments) cost reduction annually. Modifications to the
county's defined benefit pension plan, including changes in
retirement age, vesting requirements and the limitation of average
final compensation to base wages should reduce the required
contribution by $11.7 million or 17% in the first year. The county
is eligible to be released from the consent agreement when the
county executive certifies and the state treasurer concurs that
financial stability has been restored, the county has repaid
amounts owed to the state, and audited financial statements show
the county is not required to submit a financial plan under
existing state law. The county anticipates release within one year
from now.

Long-Term Liability Burden
Long-term liability burden is moderate, with the unfunded pension
liability and overall debt at 12.6% of personal income.
Post-retirement benefit liabilities previously were a pressure
point on the county's credit profile, but recent changes under the
consent agreement make these obligations more manageable. The
changes affected both pension and OPEB liabilities as well as their
future cost trajectories.

The county's main pension plan has a weak asset to liability ratio
(47%) despite the changes, but a comparatively short amortization
schedule (24 years) and planned supplemental payments should
materially improve the net position.

The county has very little direct debt, although substantial
overlapping borrowing drives debt burden to an above-average 8.1%
of market value. Future new money borrowing plans are uncertain, as
plans for the jail construction are not yet settled. The county
halted the jail project, for which it borrowed $200 million in
2010, when cost projections rose from $300 million to $390 million.
Management is evaluating its options for the site and further
borrowing for project completion is a possibility.

Operating Performance
Unrestricted general fund balance returned to a positive position
in fiscal 2015, for the first time since recessionary revenue
losses severely depleted reserves, largely due to large transfers
from the delinquent tax revolving fund. While greatly improved, the
current level of reserves (almost 10% of spending, including
unrestricted general and delinquent tax revolving fund balances)
still represents what Fitch views as an insufficient cushion to
absorb potential revenue shortfalls in another recession, given the
exceptional vulnerability of the county's revenue stream to
economic downturns and the limited inherent budget flexibility to
compensate for any revenue losses.

The county's revenue stream has been slow to recover from
recessionary declines, making restoration of adequate cushion a
challenge. Actions taken during the past year, under the consent
agreement, are the first to successfully improve the county's
structural balance and long-term liability profile and thus improve
its ability to withstand a future economic downturn. Fitch expects
that the changes effected under the consent agreement will generate
more positive structural results beginning in fiscal 2016.



WESTERN ENERGY: S&P Lowers CCR to 'B', Outlook Negative
-------------------------------------------------------
S&P Global Ratings lowered its long-term corporate credit rating on
Western Energy Services Corp. to 'B' from 'B+.'  The outlook is
negative.  At the same time, S&P Global Ratings affirmed its 'B+'
rating on the company's senior unsecured notes. S&P Global Ratings
also revised its recovery rating on the notes to '2' from '4',
indicating S&P's expectation for substantial recovery (70%-90%;
upper half of the range) under S&P's default scenario.  As well,
S&P Global Ratings revised its business risk profile on the company
to vulnerable from weak and financial risk profile to highly
leveraged from aggressive.

"The downgrade reflects our expectation that Western's near-term
operating performance will continue to lag below our previous
expectations, resulting in significantly elevated credit measures
in 2016," said S&P Global Ratings credit analyst Michelle
Dathorne.

S&P expects the company's 2016 fully adjusted debt-to-EBITDA ratio
will remain above 10x and funds from operations (FFO)-to-debt will
be negative under S&P's base-case scenario, a key factor in its
financial risk profile revision.  Although S&P expects the
company's revenues and cash flow to improve beyond 2016, based on
an assumed increase in industry activity, the dramatically weakened
2016 cash flow ratios have weakened our estimate of its three-year,
weighted-average cash flow metrics, and the overall financial risk
profile.  S&P also believes the company's business risk profile has
weakened, due to its deteriorated profitability metrics,
specifically S&P's estimated adjusted EBITDA margins.

"We are using a positive comparable rating analysis (CRA) modifier,
which raises our 'b-' anchor score on Western to final 'B'
corporate credit rating.  The modifier reflects our view of the
company's fairly new and high-quality rig fleet (compared with that
of 'B-' rated peers), which we believe is less vulnerable to idle
time; its day rates; and utilization (and require less maintenance
capital).  We believe these attributes will help Western's
operating results to recover quickly compared with those of other
players as hydrocarbon prices rebound.  In addition, the company's
liquidity position, which remains consistent with our expectations
of an adequate liquidity profile and has not been adversely
affected by the reduced availability under its committed credit
facility, also supports our use of a positive CRA modifier," S&P
said.

The vulnerable business risk profile on Western reflects S&P's view
of the company's position in the land drilling industry, which is
facing significant pricing and utilization pressure; geographic
concentration in the Canadian drilling market; and the volatility
of its profitability metrics.  S&P believes Western's higher
capability, albeit small, land rig fleet somewhat offsets the
weaknesses, and supports S&P's use of the positive CRA modifier.

The company operates in North America, mostly Canada, and is
exposed to the highly competitive onshore drilling sector.  With
the drop in oil prices, both rig demand and pricing has come under
significant pressure.  Canadian industry utilization dropped to 23%
in 2015, compared with 44% a year earlier.  Given the persistent
weakness in hydrocarbon prices in 2016, and S&P's expectation of
only modest price increases in 2017 and 2018, it do not believe
industry activity will exceed 2015 levels during S&P's 2016-2018
forecast period.  As of March 31, 2016, Western had only about
seven of its 57 land rigs contracted (all seven contracts expiring
through 2018) with the balance of its utilized fleet operating on
spot dayrates.  In S&P's view, the low level of long-term contracts
heightens the company's exposure to revenue and cash flow decreases
during cyclical downturns.  Western's well service rigs and rental
services segments provide some diversity to company operations, but
are not significant enough to influence our assessment of the
scale, scope, and diversity of its business operations.

The negative outlook reflects the potential for Western's weakened
cash flow adequacy and leverage metrics to impair its overall
credit profile and the ratings.  Under S&P's updated base-case
scenario, it expects the company's credit measures will remain weak
over the next 12 months, with negative FFO-to-debt.

The positive CRA modifier assumes that the quality of Western's rig
fleet should ensure the company's utilization and day rates,
revenues, and cash flow should strengthen as industry activity
improves in tandem with hydrocarbon prices.  S&P could lower the
rating if the company underperforms its current base case scenario.
Specifically, S&P would lower the rating to 'B-' by removing the
positive CRA modifier if the company's three-year, weighted-average
FFO-to-debt fell below 10%.

S&P could revise the outlook to stable if the company's cash flow
and leverage metrics improved in tandem with improving industry
conditions such that Western's three-year weighted average
FFO-to-debt ratio increased above 12%, and we believed it would
remain above this threshold consistently.


WILLMAN CONSTRUCTION: Hires Steven Campana as Accountant
--------------------------------------------------------
Willman Construction, Inc., seeks permission from the U.S.
Bankruptcy Court for the Southern District of Iowa to employ Steven
W. Campana, CPA, at Honkamp Krueger & Co, P.C., as accountant nunc
pro tunc to June 1, 2016.

Mr. Camapana will:

     a. prepare year-end tax returns at an hourly rate of $250;

     b. assist DIP in providing cash flows and other financial
        information to assist Ellen Willman in its reorganization
        efforts; and

     c. any and all accounting services as stated on the
        engagement letter.

The Debtor wants to employ Mr. Camapana for any other accounting
work at his normal and customary hourly rate of $250.  Mr. Camapana
seeks a $3,000 retainer.

To the best of the Debtor's knowledge, Mr. Camapana has no
connection with the Debtor, the creditors or any other
party-in-interest or their respective attorneys and accountants,
the U.S. Trustee, or any person employed in the Office of the U.S.
Trustee.

        Steven W. Campana, CPA
        Honkamp Krueger & Co, P.C.
        4440 N. Brady Street, Suite
        Davenport, IA 52806
        Tel: (888) 556-0123
        Fax: (563) 391-4757

                   About Willman Construction

Willman Construction, Inc., filed for Chapter 11 bankruptcy
protection (Bankr. S.D. Iowa Case No. 16-00774) on April 15, 2016.
The petition was signed by Mark. Willman, authorized
representative.

The Debtor is represented by Dale G. Haake, Esq., at Katz Nowinski
P.C. The case is assigned to Judge Lee M. Jackwig.

The Debtor disclosed total assets of $521,700 and total debts of
$1.2 million.


WINDSTREAM HOLDINGS: Egan-Jones Cuts FC Sr. Unsec. Rating to B-
---------------------------------------------------------------
Egan-Jones Ratings Company downgraded the foreign currency senior
unsecured rating on debt issued by Windstream Holdings Inc to B-
from B on June 6, 2016.  EJR also lowered the commercial paper
rating on the Company to C from B.

Windstream Communications is a provider of voice and data network
communications, and managed services, to businesses in the United
States.



WRWM PARTNERSHIP: Hires Flynn Company as Real Estate Broker
-----------------------------------------------------------
WRWM Partnership, LLC, seeks permission from the U.S. Bankruptcy
Court for the Eastern District of Pennsylvania to employ The Flynn
Company as real estate broker to sell the real property located at
and known as 109 Wilmington Pike, Chadds Ford, Pennsylvania, and to
perform all other related services for the Debtor which may be
necessary.

The proposed terms of retention are for the listing of the Property
with a 6% commission based on the sale price.  The 6% commission is
standard in Pennsylvania for the sale of real property.

Kevin D. Flynn, the President of the Firm, assures the Court that
the Firm doesn't have any connection with the Debtor, the Debtor's
creditors, the U.S. Trustee, any person employed in the office of
the U.S. Trustee, or any other party-in-interest in this matter.

The real estate broker can be reached at:

     Kevin D. Flynn
     The Flynn Company
     1621 Wood Street
     Philadelphia, PA 19103
     Tel: (215) 561-5025
     E-mail: brokerage@flynnco.com

The Debtor's counsel can be reached at:

     BIELLI & KLAUDER, LLC
     Thomas D. Bielli, Esq.
     Cory P. Stephenson, Esq.
     1500 Walnut Street, Suite 900
     Philadelphia, PA 19102
     Tel: (215) 642-8271
     Fax: (215) 754-4177
     E-mail: tbielli@bk-legal.com
             cstephenson@bk-legal.com

WRWM Partnership, LLC, filed for Chapter 11 bankruptcy protection
(Bankr. E.D. Pa. Case No. 16-11997) on March 24, 2016, listing
under $1 million in both assets and liabilities.  Thomas Daniel
Bielli, Esq., at Bielli & Klauder, LLC, serves as the Debtor's
bankruptcy counsel.


ZERGA PHIN-KER: Hartford Objects to Disclosure Statement
--------------------------------------------------------
Hartford Fire Insurance Company, as assignee of HMC Contracting
Services, LLC, objects to the disclosure statement in support of
Zerga Phin-Ker LP's Chapter 11 plan of liquidation dated April 21,
2016.

HMC appears to be a member of Class 3 (General Unsecured Creditors)
under the Plan.  Holders of Class 3 Claims and/or Interests will be
paid a pro rata share of remaining assets of the Debtor after
Distributions are issued to Classes 1 (Bond Holder Secured Claim)
and Class 2 (Secured Tax Claims).

HMC has asserted a secured claim in this bankruptcy case in the
amount of $2,432,172. HMC's claim arises from construction services
provided at the real property owned by Debtor. The claim is secured
by the real property owned by the Debtor and improvements and
removable improvements on the Debtor's real property, as identified
in the liens filed and recorded in the Real Property Records of
Gregg County, Texas.

Hartford complains that the Disclosure Statement fails to satisfy
the adequate information requirement as it does not contain
sufficient information to enable a reasonable person to make an
"informed judgment about the Plan."  The Plan and Disclosure
Statement are ambiguous and/or omit material facts that may mislead
or preclude holders of claims or interests from making judgments
about the Plan or cause such holders to assume that classifications
and conclusions reached by Debtor in the Plan and Disclosure
Statement are appropriate, Hartford further complains.

Harford is represented by:

          Mike F. Pipkin, Esq.
          Melissa L. Gardner, Esq.
          WEINSTEIN RADCLIFF PIPKIN LLP
          8350 N. Central Expressway, Suite 1550
          Dallas, TX 75206
          Tel: 214.865.7012
          Fax: 214.865.6140
          Email: mpipkin @weinrad.com
                 mgardner@weinrad.com

                      About Zerga Phin-Ker

Zerga Phin-Ker LP filed a Chapter 11 bankruptcy petition (Bankr.
E.D. Tex. Case No. 15-42087) on Nov. 20, 2015.  The petition was
signed by Jerry Green as co-president.  The Debtor estimated both
assets and liabilities in the range of $10 million to $50 million.
Lewis Brisbois Bisgaard & Smith LLP represents the Debtor as
counsel. Judge Brenda T. Rhoades is assigned to the case.

Proofs of claim due by March 17, 2016.  Government proofs of Claim
due are due by May 18, 2016.


ZOWAA INC: Taps Campbell & Coombs as Legal Counsel
--------------------------------------------------
ZOWAA, Inc. seeks approval from the U.S. Bankruptcy Court for the
District of Arizona to hire Campbell & Coombs, P.C. as its legal
counsel.

ZOWAA tapped the firm to:

     (a) give legal advice about its powers and duties as a
         debtor-in-possession;

     (b) take necessary action to resolve cash collateral and
         post-petition financing issues;

     (c) represent Debtor in connection with obtaining a confirmed

         plan of reorganization; and

     (d) prepare legal papers on behalf of the Debtor.

The firm's professionals and their hourly rates are:

     Harold Campbell         $500
     Scott Coombs            $500
     Other Attorneys         $300 - $400
     Law Clerk/Paralegal      $85  

Campbell & Coombs does not represent any interest adverse to the
Debtor or its bankruptcy estate, according to court filings.

The firm can be reached through:

     Harold E. Campbell, Esq.
     Vincent R. Mayr, Esq.
     Campbell & Coombs, P.C.
     1811 S. Alma School Suite 225
     Mesa, Arizona 85210
     (480) 839-4828
     Facsimile: 480-897-1461
     heciii@haroldcampbel1.com
     vincent@haroldcampbell.com

                        About ZOWAA Inc.

ZOWAA, Inc. sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Ariz. Case No. 14-08177) on May 28, 2014.


[*] Jessica McKinlay Joins Dorsey & Whitney's Bankruptcy Practice
-----------------------------------------------------------------
International law firm Dorsey & Whitney LLP on June 21, 2016,
disclosed that Jessica G. Peterson McKinlay has joined the Firm's
Bankruptcy and Financial Restructuring Group in Palo Alto,
California, as Of Counsel.

Ms. McKinlay represents trustees, debtors, creditors and other
related parties in federal bankruptcy court and related state and
federal litigation.  She also represents clients in commercial
litigation in both federal and state courts.

Ms. McKinlay joins Dorsey from the Durham Jones & Pinegar law firm
in Salt Lake City, where she was a shareholder practicing in the
Bankruptcy & Creditors' Rights and Litigation practice groups.

Ms. McKinlay has a JD degree, an MBA degree and a BS degree in
Business Administration, from the University of Utah.  After law
school, she served as a law clerk for Chief Justice Christine M.
Durham of the Utah Supreme Court.  She has been recognized by
Mountain States Super Lawyers and Utah Business Magazine's "Legal
Elite."

"We are very pleased that Jessica has joined Dorsey," noted Ken
Cutler, Managing Partner of Dorsey & Whitney.  "Her expertise and
experience will complement Dorsey's strong, multi-office bankruptcy
and financial restructuring practice.  We continue to add talent
strategically across the Dorsey platform to better serve our
clients around the world."

"I am delighted to be joining Dorsey and its great Firm-wide team
of bankruptcy and restructuring lawyers," noted Ms. McKinlay.  "I
look forward to serving Dorsey's exceptional client base."

                   About Dorsey & Whitney LLP

With locations across the United States and in Canada, Europe and
the Asia-Pacific region, Dorsey provides an integrated, proactive
approach to its clients' legal and business needs.  Dorsey
represents a number of the world's most successful companies from a
wide range of industries, including leaders in the banking, energy,
food and agribusiness, health care, mining and natural resources,
and public-private project development sectors, as well as major
non-profit and government entities.


[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re Danilo Isaac Real and Laurel Blythe Brauer
   Bankr. C.D. Cal. Case No. 16-12432
      Chapter 11 Petition filed June 10, 2016
         represented by: Giovanni Orantes, Esq.
                         ORANTES LAW FIRM APC
                         E-mail: go@gobklaw.com

In re Margaret Mary Murphy
   Bankr. D. Mass. Case No. 16-41027
      Chapter 11 Petition filed June 10, 2016
         represented by: Thomas W. Fothergill, Esq.
                         LAW OFFICES OF THOMAS W. FOTHERGILL
                         E-mail: ThomasFothergill@msn.com

In re Langermann's of Baltimore, LLC
   Bankr. D. Md. Case No. 16-17913
      Chapter 11 Petition filed June 10, 2016
         See http://bankrupt.com/misc/mdb16-17913.pdf
         represented by: Stephen L. Prevas, Esq.
                         PREVAS AND PREVAS
                         E-mail: prevasandprevas@verizon.net

In re Wexford Development Corp.
   Bankr. E.D.N.Y. Case No. 16-72594
      Chapter 11 Petition filed June 10, 2016
         See http://bankrupt.com/misc/nyeb16-72594.pdf
         Filed Pro Se

In re Angel Ricardo Cintron Davila and Carola Elena Acosta Marin
   Bankr. D.P.R. Case No. 16-04627
      Chapter 11 Petition filed June 10, 2016
         represented by: Jesus Enrique Batista Sanchez, Esq.
                         THE BATISTA LAW GROUP, PSC
                         E-mail: jesus.batista@batistalawgroup.com

In re Jose Manuel Marrero Gonzalez
   Bankr. D.P.R. Case No. 16-04635
      Chapter 11 Petition filed June 10, 2016
         represented by: Jesus Enrique Batista Sanchez, Esq.
                         THE BATISTA LAW GROUP, PSC
                         E-mail: jesus.batista@batistalawgroup.com

In re ECRA Group, Corp.
   Bankr. D.P.R. Case No. 16-04651
      Chapter 11 Petition filed June 10, 2016
         See http://bankrupt.com/misc/prb16-04651.pdf
         represented by: Luis D Flores Gonzalez, Esq.
                         LUIS D FLORES GONZALEZ LAW OFFICE
                         E-mail: ldfglaw@coqui.net

In re Ryan M. Roth and Stephanie S. Roth
   Bankr. W.D. Wis. Case No. 16-12094
      Chapter 11 Petition filed June 10, 2016
         represented by: Ryan Anthony Blay, Esq.
                         KREKELER STROTHER, S.C.
                         E-mail: rblay@ks-lawfirm.com

In re Bench and Bar, Inc.
   Bankr. N.D. Cal. Case No. 16-41611
      Chapter 11 Petition filed June 11, 2016
         See http://bankrupt.com/misc/canb16-41611.pdf
         represented by: Nathan David Borris, Esq.
                         LAW OFFICES OF NATHAN D. BORRIS
                         E-mail: nateborris@gmail.com

In re Murray Altman
   Bankr. C.D. Cal. Case No. 16-15248
      Chapter 11 Petition filed June 12, 2016
         represented by: Andrew S Bisom, Esq.
                         THE BISOM LAW GROUP
                         E-mail: abisom@bisomlaw.com
In re Marzieh Bagheri-Tari
   Bankr. C.D. Cal. Case No. 16-12463
      Chapter 11 Petition filed June 13, 2016
         represented by: Yeznik O Kazandjian, Esq.
                         LAW OFFICES OF YEZNIK O KAZANDJIAN
                         E-mail: yeznik@yoklaw.com

In re DBD Beauty and Spa, Inc.
   Bankr. N.D. Cal. Case No. 16-41629
      Chapter 11 Petition filed June 13, 2016
         See http://bankrupt.com/misc/canb16-41629.pdf
         represented by: Nancy Weng, Esq.
                         TRINH LAW
                         E-mail: nweng@trinhlawfirm.com

In re Susan W. Poskus
   Bankr. D. Conn. Case No. 16-20955
      Chapter 11 Petition filed June 13, 2016
         represented by: Edward P. Jurkiewicz, Esq.
                         LAWRENCE & JURKIEWICZ LLC
                         E-mail: edwardjurkiewicz@sbcglobal.net

In re Freedom Marine Finance, LLC
   Bankr. S.D. Fla. Case No. 16-18448
      Chapter 11 Petition filed June 13, 2016
         See http://bankrupt.com/misc/flsb16-18448.pdf
         represented by: David W. Langley, Esq.
                         E-mail: dave@flalawyer.com

In re Girish Parbhu Patel
   Bankr. W.D. La. Case No. 16-20520
      Chapter 11 Petition filed June 13, 2016
         represented by: Wade N. Kelly, Esq.
                         E-mail: wnkellylaw@yahoo.com

In re MOBILEDIRECT, Inc.
   Bankr. D. Mont. Case No. 16-
      Chapter 11 Petition filed June 13, 2016
         See http://bankrupt.com/misc/mtb16-60596.pdf
         represented by: STEVEN M JOHNSON, Esq.
                         CHURCH HARRIS JOHNSON & WILLIAMS PC
                         E-mail: sjohnson@chjw.com

In re Fred A. Ordine, Jr.
   Bankr. D.N.J. Case No. 16-21458
      Chapter 11 Petition filed June 13, 2016
         represented by: Ilissa Churgin Hook, Esq.
                         HOOK & FATOVICH, LLC
                         E-mail: ihook@hookandfatovich.com

In re Mosholu JJJ Realty Ltd.
   Bankr. S.D.N.Y. Case No. 16-11723
      Chapter 11 Petition filed June 13, 2016
         See http://bankrupt.com/misc/nysb16-11723.pdf
         Filed Pro Se

In re Pratishta, Inc.
   Bankr. S.D.N.Y. Case No. 16-11726
      Chapter 11 Petition filed June 13, 2016
         See http://bankrupt.com/misc/nysb16-11726.pdf
         represented by: Michael A. King, Esq.
                         LAW OFFICE OF MICHAEL A. KING
                         E-mail: romeo1860@aol.com

In re LOBBY BAR, LLC
   Bankr. C.D. Cal. Case No. 16-23827
      Chapter 11 Petition filed June 13, 2016
         See http://bankrupt.com/misc/caeb16-23827.pdf
         represented by: Thomas B. Sheridan, Esq.
                         SHERIDAN LAW GROUP
                         E-mail: tsheridan@sheridanlawgrp.com

In re Paula Dean Laddusire
   Bankr. C.D. Cal. Case No. 16-11769
      Chapter 11 Petition filed June 14, 2016
         represented by: Clifford Bordeaux, Esq.
                         COHEN & BORDEAUX, LLP
                         E-mail: bordeaux.ecf@gmail.com

In re Roadrunner Auto Sales & Rental
   Bankr. C.D. Cal. Case No. 16-11770
      Chapter 11 Petition filed June 14, 2016
         See http://bankrupt.com/misc/cacb16-11770.pdf
         represented by: Bryan Diaz, Esq.
                         BRYAN DIAZ LAW, APC
                         E-mail:
bryan@bryandiazlaw.onmicrosoft.com

In re Jesus Avila Lua
   Bankr. C.D. Cal. Case No. 16-17876
      Chapter 11 Petition filed June 14, 2016
         represented by: Anthony Obehi Egbase, Esq.
                         LAW OFFICES OF ANTHONY O EGBASE & ASSOC
                         E-mail: info@aoelaw.com

In re Serve & Educate, LLC
   Bankr. M.D. Fla. Case No. 16-05080
      Chapter 11 Petition filed June 14, 2016
         See http://bankrupt.com/misc/flmb16-05080.pdf
         represented by: Scott A Rosin, Esq.
                         SCOTT A ROSIN, P A.
                         E-mail: srosincmecf@tampabay.rr.com

In re Craig E. Southern
   Bankr. W.D. La. Case No. 16-30855
      Chapter 11 Petition filed June 14, 2016
         represented by: Rex D. Rainach, Esq.
                         E-mail: rainach@msn.com

In re Allene Graves
   Bankr. D. Md. Case No. 16-18018
      Chapter 11 Petition filed June 14, 2016
         represented by: Richard S. Basile, Esq.
                         E-mail: rearsb@gmail.com

In re Darren J Casale
   Bankr. D. Md. Case No. 16-18040
      Chapter 11 Petition filed June 14, 2016
         represented by: Michael Patrick Coyle, Esq.
                         THE COYLE LAW GROUP LLC
                         E-mail: mcoyle@thecoylelawgroup.com

In re PNCH Associates, LLC
   Bankr. D.N.J. Case No. 16-21540
      Chapter 11 Petition filed June 14, 2016
         See http://bankrupt.com/misc/njb16-21540.pdf
         represented by: Albert A. Ciardi III, Esq.
                         CIARDI CIARDI & ASTIN, P.C.
                         E-mail: aciardi@ciardilaw.com

In re Brigid Giambrone
   Bankr. E.D.N.Y. Case No. 16-42610
      Chapter 11 Petition filed June 14, 2016
         represented by: Fredrick P Stern, Esq.
                         FREDRICK P STERN & ASSOCIATES PC
                         E-mail: FredPStern@netscape.net

In re D. Mike Hayes and Inge Hayes
   Bankr. W.D. Okla. Case No. 16-12307
      Chapter 11 Petition filed June 14, 2016
         represented by: Gary L. Morrissey, Esq.
                         E-mail: g.morrissey@yahoo.com

In re Wilson's Outdoor Services, LLC
   Bankr. W.D. Pa. Case No. 16-22190
      Chapter 11 Petition filed June 14, 2016
         See http://bankrupt.com/misc/pawb16-22190.pdf
         represented by: David Z. Valencik, Esq.
                         CALAIARO VALENCIK
                         E-mail: dvalencik@c-vlaw.com

In re Joseph A Zambarano
   Bankr. W.D. Tex. Case No. 16-10711
      Chapter 11 Petition filed June 14, 2016
         represented by: Frank B. Lyon, Esq.
                         E-mail: franklyon@me.com

In re Joseph E. Kokroko
   Bankr. D. Ariz. Case No. 16-06782
      Chapter 11 Petition filed June 15, 2016
         represented by: Eric Slocum Sparks, Esq.
                         ERIC SLOCUM SPARKS PC
                         E-mail: law@ericslocumsparkspc.com

In re Malcolm Curtis and Judith Curtis
   Bankr. C.D. Cal. Case No. 16-15373
      Chapter 11 Petition filed June 15, 2016
         represented by: Rebekah L Parker, Esq.
                         Email: RebekahLenParker@aol.com

In re LOVE-A-CHILD MISSIONS
   Bankr. N.D. Cal. Case No. 16-41651
      Chapter 11 Petition filed June 15, 2016
         See http://bankrupt.com/misc/canb16-41651.pdf
         represented by: Darya Sara Druch, Esq.
                         LAW OFFICES OF DARYA SARA DRUCH
                         E-mail: ecf@daryalaw.com

In re Gene Neytman
   Bankr. S.D. Fla. Case No. 16-18550
      Chapter 11 Petition filed June 15, 2016
         represented by: Michael A Vandetty, Esq.
                         E-mail: lawbymike@aol.com

In re David and Verda DiCorte Revocable Trust
   Bankr. N.D. Ga. Case No. 16-60447
      Chapter 11 Petition filed June 15, 2016
         Filed Pro Se

In re Boulaye Marine Towing, LLC
   Bankr. E.D. La. Case No. 16-11392
      Chapter 11 Petition filed June 15, 2016
         See http://bankrupt.com/misc/laeb16-11392.pdf
         represented by: Markus E. Gerdes, Esq.
                         GERDES LAW FIRM, LLC
                         E-mail: angel@gerdeslaw.net

In re YAKH LLC
   Bankr. D. Mass. Case No. 16-12304
      Chapter 11 Petition filed June 15, 2016
         See http://bankrupt.com/misc/mab16-12304.pdf
         represented by: Paul Feldman, Esq.
                         LAW OFFICE OF PAUL FELDMAN
                         E-mail: Paul@adv-residential.com

In re Dennis Darcy
   Bankr. S.D.N.Y. Case No. 16-22810
      Chapter 11 Petition filed June 15, 2016
         represented by: Robert J. Spence, Esq.
                         SPENCE LAW OFFICE, P.C.
                         E-mail: rspence@spencelawpc.com

In re Angel Gabriel Rodriguez Ortiz
   Bankr. D.P.R. Case No. 16-04807
      Chapter 11 Petition filed June 15, 2016
         represented by: Carlos A Ruiz Rodriguez, Esq.
                         E-mail: caruiz@reclamatusderechos.com

In re CH KIM, LLC
   Bankr. N.D. Ala. Case No. 16-81749
      Chapter 11 Petition filed June 16, 2016
         See http://bankrupt.com/misc/alnb16-81749.pdf
         represented by: Tazewell Shepard, Esq.
                         TAZEWELL SHEPARD, P.C.
                         E-mail: taze@ssmattorneys.com

In re All Type Contracting, LLC
   Bankr. E.D. Mo. Case No. 16-10509
      Chapter 11 Petition filed June 16, 2016
         See http://bankrupt.com/misc/moeb16-10509.pdf
         represented by: Thomas H. Riske, Esq.
                         DESAI EGGMANN MASON LLC
                         E-mail: triske@demlawllc.com

In re Horizon Products, LLC
   Bankr. D.N.J. Case No. 16-21756
      Chapter 11 Petition filed June 16, 2016
         See http://bankrupt.com/misc/njb16-21756.pdf
         represented by: Robert B Davis, Esq.
                         DAVIS LAW CENTER, LLC
                         E-mail: Rob@davislawcenterllc.com

In re Chez Jacqueline Rest Inc.
   Bankr. S.D.N.Y. Case No. 16-11739
      Chapter 11 Petition filed June 16, 2016
         See http://bankrupt.com/misc/nyeb16-11739.pdf
         Filed Pro Se

In re Jahanfar Jafari
   Bankr. E.D.N.Y. Case No. 16-42642
      Chapter 11 Petition filed June 16, 2016
         represented by: Todd Cushner, Esq.
                         E-mail: todd@thegtcfirm.com

In re Deonarine Parasram
   Bankr. E.D.N.Y. Case No. 16-42657
      Chapter 11 Petition filed June 16, 2016
         represented by: Fredrick P Stern, Esq.
                         FREDRICK P STERN & ASSOCIATES PC
                         E-mail: FredPStern@netscape.net

In re Life Extension Realty LLC
   Bankr. S.D.N.Y. Case No. 16-11750
      Chapter 11 Petition filed June 16, 2016
         See http://bankrupt.com/misc/nysb16-11750.pdf
         represented by: James H. Shenwick, Esq.
                         SHENWICK & ASSOCIATES
                         E-mail: jshenwick@gmail.com

In re Western Hiperbaric Services, P.S.C.
   Bankr. D.P.R. Case No. 16-04809
      Chapter 11 Petition filed June 16, 2016
         See http://bankrupt.com/misc/prb16-04809.pdf
         represented by: Gloria Justiniano Irizarry, Esq.
                         JUSTINIANO'S LAW OFFICE
                         E-mail: justinianolaw@gmail.com

In re Hyperbarics And Wound Care Centers Of Puerto Rico Corp.
   Bankr.  Case No. 16-04810
      Chapter D.P.R.11 Petition filed June 16, 2016
         See http://bankrupt.com/misc/prb16-04810.pdf
         represented by: Gloria Justiniano Irizarry, Esq.
                         JUSTINIANO'S LAW OFFICE
                         E-mail: justinianolaw@gmail.com

In re AC Industrial Services Corp
   Bankr. D.P.R. Case No. 16-04843
      Chapter 11 Petition filed June 16, 2016
         See http://bankrupt.com/misc/prb16-04843.pdf
         represented by: Noemi Landrau Rivera, Esq.
                         LANDRAU RIVERA & ASSOCIATES
                         E-mail: nlandrau@landraulaw.com

In re Peyton Nelson Jackson
   Bankr. E.D. Va. Case No. 16-12102
      Chapter 11 Petition filed June 16, 2016
         Filed Pro Se

In re Richard Eugene Bibb
   Bankr. E.D. Va. Case No. 16-33026
      Chapter 11 Petition filed June 16, 2016
         represented by: Robert Easterling, Esq.
                         E-mail: eastlaw@easterlinglaw.com

In re Richard Judson Battaglini
   Bankr. D. Ariz. Case No. 16-06908
      Chapter 11 Petition filed June 17, 2016
         Filed Pro Se

In re Aaron L. Huttsell
   Bankr. D. Ariz. Case No. 16-06939
      Chapter 11 Petition filed June 17, 2016
         represented by: ERIC OLLASON, Esq.
                         E-mail: eollason@182court.com

In re Richard A. Block and Judith A. Block
   Bankr. D. Ariz. Case No. 16-06945
      Chapter 11 Petition filed June 17, 2016
         represented by: Eric Slocum Sparks, Esq.
                         ERIC SLOCUM SPARKS PC
                         E-mail: law@ericslocumsparkspc.com

In re Beneficial Financial Services, LLC
   Bankr. C.D. Cal. Case No. 16-11136
      Chapter 11 Petition filed June 17, 2016
         Filed Pro Se

In re Rosemary Garcia
   Bankr. C.D. Cal. Case No. 16-12584
      Chapter 11 Petition filed June 17, 2016
         represented by: Kevin Tang, Esq.
                         TANG & ASSOCIATES
                         E-mail: tangkevin911@gmail.com

In re Wagner Enterprises, LLC
   Bankr. D. Mont. Case No. 16-60622
      Chapter 11 Petition filed June 17, 2016
         See http://bankrupt.com/misc/mtb16-60622.pdf
         represented by: Edward A. Murphy, Esq.
                         MURPHY LAW OFFICES, PLLC
                         E-mail: murphylawecf@gmail.com

In re Jesus Chavez-Martinez
   Bankr. D. Nev. Case No. 16-13336
      Chapter 11 Petition filed June 17, 2016
         represented by: Corey B. Beck, Esq.
                         E-mail: becksbk@yahoo.com

In re TJ Sign Solutions Inc.
   Bankr. N.D.N.Y. Case No. 16-60862
      Chapter 11 Petition filed June 17, 2016
         See http://bankrupt.com/misc/nynb16-60862.pdf
         represented by: Peter Alan Orville, Esq.
                         ORVILLE & MCDONALD LAW, PC
                         E-mail: peteropc@gmail.com

In re Nelson's Academy
   Bankr. E.D. Pa. Case No. 16-14370
      Chapter 11 Petition filed June 17, 2016
         See http://bankrupt.com/misc/paeb16-14370.pdf
         represented by: Vaughn A. Booker, Esq.
                         LAW OFFICES OF VAUGHN A. BOOKER
                         E-mail: vbs00001@aol.com

In re Cyrilla Landscaping & Supply Co. Inc.
   Bankr. W.D. Pa. Case No. 16-22254
      Chapter 11 Petition filed June 17, 2016
         See http://bankrupt.com/misc/pawb16-22254.pdf
         represented by: Donald R. Calaiaro, Esq.
                         CALAIARO VALENCIK
                         E-mail: dcalaiaro@c-vlaw.com

In re EOS Events Inc.
   Bankr. D.P.R. Case No. 16-04868
      Chapter 11 Petition filed June 17, 2016
         See http://bankrupt.com/misc/prb16-04868.pdf
         represented by: Alexis A Betancourt Vincenty, Esq.
                         LUGO MENDER GROUP LLC
                         E-mail: a_betancourt@lugomender.com

In re Andrea Steinmann Downs
   Bankr. C.D. Cal. Case No. 16-12589
      Chapter 11 Petition filed June 19, 2016
         represented by: James E Till, Esq.
                         BOSLEY TILL NEUE & TALERICO, LLP
                         E-mail: jtill@btntlaw.com

In re Asdrubal Martinez
   Bankr. M.D. Fla. Case No. 16-02294
      Chapter 11 Petition filed June 19, 2016
         represented by: Thomas C Adam, Esq.
                         ADAM LAW GROUP, P.A.
                         E-mail: tadam@adamlawgroup.com


                            *********

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.

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.

The Sunday TCR delivers securitization rating news from the week
then-ending.

                            *********

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., Washington, D.C., USA.  
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2016.  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 $975 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 Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-362-8552.

                   *** End of Transmission ***